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