21200001@unknown@formal@none@1@S@Japan's production of cars, trucks and buses in September fell 4.1% from a year ago to 1,120,317 units because of a slip in exports, the Japan Automobile Manufacturers' Association said.@@@@1@30@@oe@2-2-2013
21200002@unknown@formal@none@1@S@Domestic demand continues to grow, but its contribution to higher production was sapped in September by the estimated 2% fall in imports, accompanied by a growing tendency for Japanese manufacturers to build vehicles overseas, according to the association.@@@@1@38@@oe@2-2-2013
21200003@unknown@formal@none@1@S@The association said domestic demand grew 8.8% in September.@@@@1@9@@oe@2-2-2013
21200004@unknown@formal@none@1@S@Demand has been growing consistently under the encouragement of pro-consumption government policies, an association spokesman said.@@@@1@16@@oe@2-2-2013
21200005@unknown@formal@none@1@S@He also said the introduction of a 3% consumption tax in April has helped sales.@@@@1@15@@oe@2-2-2013
21200006@unknown@formal@none@1@S@The new tax, though a source of general resentment among Japanese taxpayers, replaced a higher commodities tax that applied to automobiles.@@@@1@21@@oe@2-2-2013
21200007@unknown@formal@none@1@S@Japanese domestic motor-vehicle sales rose 12% in September, the Japan Automobile Dealers' Association said earlier this month.@@@@1@17@@oe@2-2-2013
21200008@unknown@formal@none@1@S@The manufacturers' association will issue statistics on vehicle exports later this month.@@@@1@12@@oe@2-2-2013
21200009@unknown@formal@none@1@S@Production of cars rose to 801,835 units in September, a 5.5% increase from a year earlier.@@@@1@16@@oe@2-2-2013
21200010@unknown@formal@none@1@S@Midsized cars accounted for the greatest growth in units, rising 62,872 units to 134,550 units, or 88%.@@@@1@17@@oe@2-2-2013
21200011@unknown@formal@none@1@S@Minicar output more than tripled.@@@@1@5@@oe@2-2-2013
21200012@unknown@formal@none@1@S@Manufacturers produced 46,835 of the vehicles -- which have engines of 500 cubic centimeters or less -- an increase of 31,777 units.@@@@1@22@@oe@2-2-2013
21200013@unknown@formal@none@1@S@Total truck production fell 22% from a year earlier to 315,546 units.@@@@1@12@@oe@2-2-2013
21200014@unknown@formal@none@1@S@Minitruck production fell 13% to 94,243 units.@@@@1@7@@oe@2-2-2013
21200015@unknown@formal@none@1@S@Bus production also slipped, by 49% from a year earlier to 2,936 units.@@@@1@13@@oe@2-2-2013
21200016@unknown@formal@none@1@S@The association spokesman said bus production has declined since January, but couldn't offer an explanation for the fall.@@@@1@18@@oe@2-2-2013
21200017@unknown@formal@none@1@S@Auto production for the first half of the fiscal year, which began in August, totaled 6,379,884 units, the association said.@@@@1@20@@oe@2-2-2013
21200018@unknown@formal@none@1@S@Half-year production was up 3.4% compared with the same period a year earlier.@@@@1@13@@oe@2-2-2013
21201001@unknown@formal@none@1@S@Stock of United Airlines parent UAL Corp. gyrated wildly yesterday amid speculation that one or more investors may challenge the UAL board's decision to remain independent instead of pursuing a buy-out or other transaction.@@@@1@34@@oe@2-2-2013
21201002@unknown@formal@none@1@S@The board's decision, announced after the market closed Monday, initially prompted a severe sell-off in UAL shares, which at midday traded as low as $145 a share, down $33 a share, in composite trading on the New York Stock Exchange.@@@@1@40@@oe@2-2-2013
21201003@unknown@formal@none@1@S@The deepening bloodbath for takeover-stock traders, who by then had seen UAL stock tumble 49% since Oct. 12, also triggered a marketwide sell-off that sent the Dow Jones Industrial Average down more than 80 points at 10:40 a.m.@@@@1@38@@oe@2-2-2013
21201004@unknown@formal@none@1@S@But then steady, concentrated buying by Bear, Stearns & Co., which frequently buys stock for corporate raiders, took hold and steadied the fall in UAL, which eventually buoyed the entire market.@@@@1@31@@oe@2-2-2013
21201005@unknown@formal@none@1@S@The industrial average closed down only 3.69 points at 2659.22.@@@@1@10@@oe@2-2-2013
21201006@unknown@formal@none@1@S@Late in the afternoon, several big purchases by Bear, Stearns, particularly a block of 200,000 shares at 2:43 p.m. at $150 a share, triggered a buying spree that took UAL up more than 18 points in the final hour of trading.@@@@1@41@@oe@2-2-2013
21201007@unknown@formal@none@1@S@UAL stock closed at $170 a share, down $8.375.@@@@1@9@@oe@2-2-2013
21201008@unknown@formal@none@1@S@Volume was a tumultuous 4.9 million shares, or 22% of the 21.8 million UAL shares outstanding.@@@@1@16@@oe@2-2-2013
21201009@unknown@formal@none@1@S@Traders estimated that Bear, Stearns bought more than 1 million shares.@@@@1@11@@oe@2-2-2013
21201010@unknown@formal@none@1@S@The two most frequently rumored buyers, neither of whom would comment, were Coniston Partners, which battled the UAL board in 1987, and New York real estate developer Donald Trump, who recently made and withdrew an offer for American Airlines parent AMR Corp.@@@@1@42@@oe@2-2-2013
21201011@unknown@formal@none@1@S@However, one person familiar with UAL said the signs pointed to Coniston because Mr. Trump hasn't asked for permission to buy more than $15 million of stock under federal antitrust rules.@@@@1@31@@oe@2-2-2013
21201012@unknown@formal@none@1@S@Takeover-stock traders, stung by their huge losses in UAL stock, remained eager for some action by an outside catalyst following the collapse Oct. 13 of a $300-a-share, $6.79 billion labor-management buy-out.@@@@1@31@@oe@2-2-2013
21201013@unknown@formal@none@1@S@Their hope was that the catalyst would seek to oust the board in a solicitation of shareholder consents.@@@@1@18@@oe@2-2-2013
21201014@unknown@formal@none@1@S@Baker, Nye Investments, a New York takeover-stock trader that owns UAL stock, wouldn't comment on reports the firm is considering seeking such a shareholder vote.@@@@1@25@@oe@2-2-2013
21201015@unknown@formal@none@1@S@But partner Richard Nye said, "This is the most extraordinary failed transaction I've seen in 25 years in this business.@@@@1@20@@oe@2-2-2013
21201016@unknown@formal@none@1@S@It would make sense for somebody to do it.@@@@1@9@@oe@2-2-2013
21201017@unknown@formal@none@1@S@I have never seen a case of incompetence shared by so many participants."@@@@1@13@@oe@2-2-2013
21201018@unknown@formal@none@1@S@In 1986, Baker, Nye waged a proxy fight for control of Leaseway Transportation Inc. that ultimately led to Leaseway's being sold.@@@@1@21@@oe@2-2-2013
21201019@unknown@formal@none@1@S@Some traders pointed hopefully to earlier estimates by UAL's investment adviser, First Boston Corp., that recapitalizations could yield $245 to $280 a share.@@@@1@23@@oe@2-2-2013
21201020@unknown@formal@none@1@S@But those would require pilots' cooperation.@@@@1@6@@oe@2-2-2013
21201021@unknown@formal@none@1@S@Any investor who acquires UAL stock in an attempt to force a buy-out or recapitalization must deal with United's contentious unions.@@@@1@21@@oe@2-2-2013
21201022@unknown@formal@none@1@S@The pilots are working under an expired contract, and the machinists contract expires next month.@@@@1@15@@oe@2-2-2013
21201023@unknown@formal@none@1@S@That gives them enormous leverage, including the threat of a strike to block any buy-out or recapitalization attempt they oppose.@@@@1@20@@oe@2-2-2013
21201024@unknown@formal@none@1@S@However, a catalyst like Coniston could seek shareholder support for a sale to a labor-management group at the last price discussed by that group before the board meeting Monday.@@@@1@29@@oe@2-2-2013
21201025@unknown@formal@none@1@S@The pilots had been working on a buy-out bid between $225 and $240 a share, or $5.09 billion to $5.42 billion.@@@@1@21@@oe@2-2-2013
21201026@unknown@formal@none@1@S@One person familiar with UAL said the unsettled labor situation and the uncertain world-wide financial markets contributed to the board's decision to avoid "rushing around selling the company at a bargain price," particularly since it accepted a $300-a-share offer just last month.@@@@1@42@@oe@2-2-2013
21201027@unknown@formal@none@1@S@Even some takeover-stock traders said they couldn't quarrel with the board's logic.@@@@1@12@@oe@2-2-2013
21201028@unknown@formal@none@1@S@But the board's decision prompted many to bail out of the stock yesterday.@@@@1@13@@oe@2-2-2013
21201029@unknown@formal@none@1@S@"We had a lot of people who threw in the towel today," said Earl Ellis, a partner in Benjamin Jacobson & Sons, a specialist in trading UAL stock on the Big Board.@@@@1@32@@oe@2-2-2013
21201030@unknown@formal@none@1@S@Another trader noted that many arbitrage firms are afraid to sell their UAL stock at the bottom, but already own so much they can't buy any more.@@@@1@27@@oe@2-2-2013
21201031@unknown@formal@none@1@S@"This deal is like a Roach Motel," he said.@@@@1@9@@oe@2-2-2013
21201032@unknown@formal@none@1@S@"They check in, but they can't check out."@@@@1@8@@oe@2-2-2013
21201033@unknown@formal@none@1@S@But both the traders and the pilots remain interested in some transaction.@@@@1@12@@oe@2-2-2013
21201034@unknown@formal@none@1@S@So too, according to many reports, is British Airways PLC, despite its public withdrawal from the buy-out.@@@@1@17@@oe@2-2-2013
21201035@unknown@formal@none@1@S@The pilots might end up teaming up with their longtime adversaries, the machinists union, in a recapitalization.@@@@1@17@@oe@2-2-2013
21201036@unknown@formal@none@1@S@The machinists are reviewing proposals they made in the past for recapitalizations that would pay a special shareholder dividend and give employees a minority stake.@@@@1@25@@oe@2-2-2013
21201037@unknown@formal@none@1@S@The company rejected those past proposals.@@@@1@6@@oe@2-2-2013
21201038@unknown@formal@none@1@S@It is unclear, however, if the machinists would support a majority stake, as the pilots want.@@@@1@16@@oe@2-2-2013
21201039@unknown@formal@none@1@S@A machinist official said that would depend on how much in concessions machinists would have to give in return for the majority stake.@@@@1@23@@oe@2-2-2013
21201040@unknown@formal@none@1@S@Some investors whose names were bandied about by traders as potential UAL stock buyers said they weren't buying.@@@@1@18@@oe@2-2-2013
21201041@unknown@formal@none@1@S@"I'm not interested," said Dallas investor Harold Simmons.@@@@1@8@@oe@2-2-2013
21201042@unknown@formal@none@1@S@A source close to Carl Icahn, a corporate raider who owns Trans World Airlines Inc., said he hasn't owned any UAL stock and isn't buying.@@@@1@25@@oe@2-2-2013
21201043@unknown@formal@none@1@S@One person familiar with Texas billionaire Robert Bass said he isn't likely to make any hostile moves.@@@@1@17@@oe@2-2-2013
21201044@unknown@formal@none@1@S@And a spokesman for Reliance Group Holdings Inc., which had held 7% of UAL before the first buy-out bid but later reduced its holdings below 5%, wouldn't comment.@@@@1@28@@oe@2-2-2013
21201045@unknown@formal@none@1@S@Marvin Davis, whose $5.4 billion takeover bid originally put the nation's second-largest airline in play, is limited by a standstill agreement with UAL he signed in September.@@@@1@27@@oe@2-2-2013
21201046@unknown@formal@none@1@S@The Los Angeles investor can't buy UAL stock, solicit shareholder consents or make a new offer unless he makes a formal offer of $300 a share or UAL accepts an offer below $300.@@@@1@33@@oe@2-2-2013
21201047@unknown@formal@none@1@S@However, Mr. Davis could pressure the board by asking that the agreement be waived, or letting it be known that he has financing for an offer at a lower price.@@@@1@30@@oe@2-2-2013
21202001@unknown@formal@none@1@S@Times Mirror Co. said third-quarter net income fell 13% to $70.1 million, or 54 cents a share, compared with net income of $81 million, or 62 cents a share, a year earlier.@@@@1@32@@oe@2-2-2013
21202002@unknown@formal@none@1@S@The Los Angeles media concern said that the year-ago period included a $26.5 million gain from the sale of assets, primarily timberlands.@@@@1@22@@oe@2-2-2013
21202003@unknown@formal@none@1@S@Revenue was $873.9 million, up 7.3% from $814.8 million.@@@@1@9@@oe@2-2-2013
21202004@unknown@formal@none@1@S@Stronger results from the company's broadcast and cable television units and professional and textbook publishing divisions, plus increased advertising at the company's largest newspaper, the Los Angeles Times, offset advertising declines in the company's newspapers in the Eastern U.S., the company said.@@@@1@42@@oe@2-2-2013
21202005@unknown@formal@none@1@S@"Looking ahead to the fourth quarter, the outlook for the newspaper group remains guarded, with no improvement yet seen in operating trends in our Eastern markets," said Robert F. Erburu, Times Mirror's chairman and chief executive.@@@@1@36@@oe@2-2-2013
21203001@unknown@formal@none@1@S@Copper futures sold off sharply yesterday, influenced by declines in the stock market and dollar, and a rally in bonds.@@@@1@20@@oe@2-2-2013
21203002@unknown@formal@none@1@S@December copper opened near Monday's close, tried to rally but failed, and then triggered stop-loss orders on its way down to settle at $1.1510 a pound, off 4.50 cents for the day.@@@@1@32@@oe@2-2-2013
21203003@unknown@formal@none@1@S@Stop-loss orders are placed previously with instructions to execute them if the market hits a predetermined price.@@@@1@17@@oe@2-2-2013
21203004@unknown@formal@none@1@S@William Kaiser, president of the Kaiser Financial Group in Chicago, said the decline was almost certainly influenced by the early sell-off in the stock market, which partly reflected a weakening economy.@@@@1@31@@oe@2-2-2013
21203005@unknown@formal@none@1@S@He said the recent decline in copper stocks was misleading in the face of a slowdown in manufacturing.@@@@1@18@@oe@2-2-2013
21203006@unknown@formal@none@1@S@Mr. Kaiser said traders could have picked up signals of an imminent price decline had they been watching the scrap metal markets, which became noticeably weaker two to three weeks ago.@@@@1@31@@oe@2-2-2013
21203007@unknown@formal@none@1@S@But though a weakening economy implies reduced demand, Mr. Kaiser said that Third World copper-producing countries haven't any choice but to sell copper.@@@@1@23@@oe@2-2-2013
21203008@unknown@formal@none@1@S@They might even step up sales in a falling market, he said, in an effort to maintain the flow of foreign exchange into their treasuries.@@@@1@25@@oe@2-2-2013
21203009@unknown@formal@none@1@S@Technically, Mr. Kaiser noted that a lot of traders had bought into the market when the price was in the $1.24 to $1.26 range, thinking there was support at the $1.20 level.@@@@1@32@@oe@2-2-2013
21203010@unknown@formal@none@1@S@When the market fell below that level on Monday and then yesterday couldn't climb above that level, traders started selling out their positions.@@@@1@23@@oe@2-2-2013
21203011@unknown@formal@none@1@S@Betty Raptopoulos, senior metals analyst at Prudential-Bache Securities in New York, agreed that most of the selling was of a technical nature.@@@@1@22@@oe@2-2-2013
21203012@unknown@formal@none@1@S@She said the market hit the $1.18 level at around 10 a.m. EDT where it encountered a large number of stop-loss orders.@@@@1@22@@oe@2-2-2013
21203013@unknown@formal@none@1@S@More stop-loss orders were touched off all the way down to below $1.14, where modest buying was attracted.@@@@1@18@@oe@2-2-2013
21203014@unknown@formal@none@1@S@Ms. Raptopoulos said the settling of strikes in Canada and Mexico will have little effect on supplies of copper until early next year.@@@@1@23@@oe@2-2-2013
21203015@unknown@formal@none@1@S@She thinks the next area of support for copper is in the $1.09 to $1.10 range.@@@@1@16@@oe@2-2-2013
21203016@unknown@formal@none@1@S@"I believe that as soon as the selling abates somewhat we could see a rally back to the $1.20 region," she added.@@@@1@22@@oe@2-2-2013
21203017@unknown@formal@none@1@S@She thinks a recovery in the stock market would help copper rebound as well.@@@@1@14@@oe@2-2-2013
21203018@unknown@formal@none@1@S@She noted that the preliminary estimate of the third-quarter gross national product is due out tomorrow and is expected to be up about 2.5% to 3%.@@@@1@26@@oe@2-2-2013
21203019@unknown@formal@none@1@S@"If the number is a little better, then copper will respond positively, if it is worse then more selling could ensue," she predicted.@@@@1@23@@oe@2-2-2013
21203020@unknown@formal@none@1@S@Ms. Raptopoulos noted that relating economic numbers to specific market activity is tricky.@@@@1@13@@oe@2-2-2013
21203021@unknown@formal@none@1@S@Yesterday, for example, "the durable goods numbers came out for September and the number was down only 0.1%," she said.@@@@1@20@@oe@2-2-2013
21203022@unknown@formal@none@1@S@"However, if you exclude defense-related orders then durable goods were down 3.9%.@@@@1@12@@oe@2-2-2013
21203023@unknown@formal@none@1@S@I believe that number reflects a slowing economy."@@@@1@8@@oe@2-2-2013
21203024@unknown@formal@none@1@S@She said copper traders will also be looking toward the release of the index of leading economic indicators next Tuesday.@@@@1@20@@oe@2-2-2013
21203025@unknown@formal@none@1@S@However, David Threlkeld, president of Threlkeld & Co., an international metals company, noted that so far this year copper consumption is way ahead of the same period of 1988, and that projected production is below last year.@@@@1@37@@oe@2-2-2013
21203026@unknown@formal@none@1@S@Mr. Threlkeld said the copper market seems to be anticipating a recession in three months, with declining use being the result.@@@@1@21@@oe@2-2-2013
21203027@unknown@formal@none@1@S@"But," he added, "we have had that exact same perception six times in the last six years."@@@@1@17@@oe@2-2-2013
21203028@unknown@formal@none@1@S@He noted that currently the ratio of available copper to consumption is about 3.5 weeks.@@@@1@15@@oe@2-2-2013
21203029@unknown@formal@none@1@S@He said the normal ratio is five to six weeks.@@@@1@10@@oe@2-2-2013
21203030@unknown@formal@none@1@S@According to Mr. Threlkeld, the bottleneck in copper production isn't at the mines but at the copper refineries.@@@@1@18@@oe@2-2-2013
21203031@unknown@formal@none@1@S@"It takes three months to turn copper concentrate into cathodes," he said.@@@@1@12@@oe@2-2-2013
21203032@unknown@formal@none@1@S@If there isn't a recession, he said, "we will be out of copper by the end of March.@@@@1@18@@oe@2-2-2013
21203033@unknown@formal@none@1@S@If there is a recession that will change the statistical situation."@@@@1@11@@oe@2-2-2013
21203034@unknown@formal@none@1@S@He thinks that without a recession copper prices could exceed a high of $1.65 a pound, which was reached last year.@@@@1@21@@oe@2-2-2013
21203035@unknown@formal@none@1@S@In the past Mr. Threlkeld has been known to have substantial long positionsthat is, he had bought copper futures in anticipation of rising prices -- in the copper futures market.@@@@1@30@@oe@2-2-2013
21203036@unknown@formal@none@1@S@In other commodity markets yesterday:@@@@1@5@@oe@2-2-2013
21203037@unknown@formal@none@1@S@ENERGY: The attitude was "wait-and-see" in crude oil futures yesterday in trading on the New York Mercantile Exchange.@@@@1@18@@oe@2-2-2013
21203038@unknown@formal@none@1@S@Prices for the U.S. benchmark West Texas Intermediate crude remained locked in a fairly narrow range before ending the session four cents lower at $19.72 a barrel for December delivery.@@@@1@30@@oe@2-2-2013
21203039@unknown@formal@none@1@S@Several analysts and brokers said the petroleum market was ready to rally after two days of price declines from profit-taking.@@@@1@20@@oe@2-2-2013
21203040@unknown@formal@none@1@S@But an early 80-point drop in the Dow Jones Industrial Average stopped the crude rally cold.@@@@1@16@@oe@2-2-2013
21203041@unknown@formal@none@1@S@The industrial average recovered to close only 3.69 points lower, but petroleum futures never shook off the chill.@@@@1@18@@oe@2-2-2013
21203042@unknown@formal@none@1@S@Most market participants said they were looking to this week's inventory statistics from the American Petroleum Institute to give the market some direction.@@@@1@23@@oe@2-2-2013
21203043@unknown@formal@none@1@S@The report isn't generally available until late on Tuesdays.@@@@1@9@@oe@2-2-2013
21203044@unknown@formal@none@1@S@PRECIOUS METALS: Futures prices inched upward in mostly lackluster trading.@@@@1@10@@oe@2-2-2013
21203045@unknown@formal@none@1@S@December gold was up $3.20 an ounce at $373.40; December silver gained 5.7 cents to $5.1950 an ounce.@@@@1@18@@oe@2-2-2013
21203046@unknown@formal@none@1@S@January platinum rose $2.30 an ounce to $488.60.@@@@1@8@@oe@2-2-2013
21203047@unknown@formal@none@1@S@Mr. Kaiser said there were no fundamental factors moving these markets.@@@@1@11@@oe@2-2-2013
21203048@unknown@formal@none@1@S@He noted that two weeks ago there were rumors of Soviet sales of precious metals to finance grain purchases, but the sales don't seem to have materialized.@@@@1@27@@oe@2-2-2013
21203049@unknown@formal@none@1@S@Ms. Raptopoulos thought yesterday's price action reflected weakness in the stock market and the dollar.@@@@1@15@@oe@2-2-2013
21203050@unknown@formal@none@1@S@"Gold still acts as a haven when uncertainty prevails in the financial markets as it did" yesterday, she said.@@@@1@19@@oe@2-2-2013
21203051@unknown@formal@none@1@S@Mr. Kaiser noted that gold was more than 71 times the price of silver at the close yesterday, which is historically high.@@@@1@22@@oe@2-2-2013
21203052@unknown@formal@none@1@S@"The high ratio reflects the fact that silver is still regarded as about a half-industrial metal and its price lagging relative to gold says that traders are expecting a weakening economy," he said.@@@@1@33@@oe@2-2-2013
21203053@unknown@formal@none@1@S@GRAINS AND SOYBEANS: Prices closed lower after trading in relatively narrow ranges because of strong selling in the cash market and continued favorable harvest weather.@@@@1@25@@oe@2-2-2013
21203054@unknown@formal@none@1@S@The sale to the Chinese government of 330,000 metric tons of wheat under the government's export enhancement program was announced after the close of trading Monday, but the sale was expected and failed to buoy prices yesterday, said Dale Gustafson, a futures analyst with Drexel Burnham Lambert Inc. in Chicago.@@@@1@50@@oe@2-2-2013
21203055@unknown@formal@none@1@S@As for other export customers, the Soviet Union isn't expected to be back buying U.S. corn in significant amounts until early next year, he said.@@@@1@25@@oe@2-2-2013
21203056@unknown@formal@none@1@S@A number of commercial grain users buttressed that opinion yesterday by buying certain corn options for delivery in March, indicating to analysts that the commercial companies would use the options to hedge against expected corn sales in next year's first quarter.@@@@1@41@@oe@2-2-2013
21203057@unknown@formal@none@1@S@COCOA: Futures at first continued the rally begun on Monday, but then faltered and closed lower.@@@@1@16@@oe@2-2-2013
21203058@unknown@formal@none@1@S@The December contract opened just under Monday's close, triggered some previously placed buy orders just above $1,030 a metric ton, pushing the price to $1,040, and then encountered heavy selling by traders who buy and sell for their own accounts and by commercial interests.@@@@1@44@@oe@2-2-2013
21203059@unknown@formal@none@1@S@The contract settled at $1,014 a ton, off $13.@@@@1@9@@oe@2-2-2013
21203060@unknown@formal@none@1@S@Robert Hafer, senior commodities analyst at Kaiser Financial Group, said Monday's rally continued yesterday for only about 20 minutes after the opening.@@@@1@22@@oe@2-2-2013
21203061@unknown@formal@none@1@S@He said even though there was arbitrage buying in New York because of the weak dollar, cocoa fell to relentless pressure from bearish traders.@@@@1@24@@oe@2-2-2013
21203062@unknown@formal@none@1@S@But he noted that speculators apparently don't believe there is much more of a decline in store for cocoa.@@@@1@19@@oe@2-2-2013
21203063@unknown@formal@none@1@S@The December contract reached its life-of-contract low of $975 a ton on Oct. 11; its lifetime high was $1,735, set in 1988, and its recent high was $1,368, set in early August.@@@@1@32@@oe@2-2-2013
21203064@unknown@formal@none@1@S@The last time cocoa traded at prices as low as currently was in 1974.@@@@1@14@@oe@2-2-2013
21203065@unknown@formal@none@1@S@But while further modest declines might be ahead, Mr. Hafer said it would be difficult to get through resistance levels just above yesterday's high.@@@@1@24@@oe@2-2-2013
21204001@unknown@formal@none@1@S@Citizens First Bancorp. Inc. said it agreed to buy Lakeland First Financial Group Inc., a Succasunna, N.J., bank holding company, for about $50.6 million in cash and stock.@@@@1@28@@oe@2-2-2013
21204002@unknown@formal@none@1@S@Citizens First, which controls Citizens First National Bank and is based in Glen Rock, N.J., will pay a maximum of 40% in cash for the parent of Lakeland Savings Bank and the remainder in convertible preferred stock, with a liquidation value of $18 a share.@@@@1@45@@oe@2-2-2013
21204003@unknown@formal@none@1@S@Lakeland holders will have the option to request either stock or cash.@@@@1@12@@oe@2-2-2013
21204004@unknown@formal@none@1@S@The convertible preferred will pay dividends at 7.875% and be convertible into shares of Citizens First at a rate equal to 20% above the average closing price of the stock during a 20-day period prior to the transaction's completion.@@@@1@39@@oe@2-2-2013
21204005@unknown@formal@none@1@S@The deal requires regulatory and shareholder approval.@@@@1@7@@oe@2-2-2013
21205001@unknown@formal@none@1@S@Color Systems Technology Inc., Los Angeles, said its major creditor, General Electric Pension Trust, agreed to convert $11.8 million of debt owed into 25% of Color System's fully diluted common stock.@@@@1@31@@oe@2-2-2013
21205002@unknown@formal@none@1@S@The agreement also calls for General Electric Pension, a unit of General Electric Co., to receive as much as 10% of Color Systems' fully diluted common stock, depending on the proceeds from the sale of the AEI Film Library and its receivables.@@@@1@42@@oe@2-2-2013
21205003@unknown@formal@none@1@S@General Electric Pension took control of the 85-title library last month after Color Systems defaulted on the loan.@@@@1@18@@oe@2-2-2013
21205004@unknown@formal@none@1@S@The agreement depends on Color Systems' ability to win similar concessions from other creditors.@@@@1@14@@oe@2-2-2013
21205005@unknown@formal@none@1@S@Buddy Young, president, said the company expects to conclude negotiations with other creditors within 60 days.@@@@1@16@@oe@2-2-2013
21205006@unknown@formal@none@1@S@Color Systems, which converts black-and-white film to color videotape, posted a loss of $7.1 million, or $1.32 a share, on revenue of $10.6 million for the fiscal year ended June 30.@@@@1@31@@oe@2-2-2013
21205007@unknown@formal@none@1@S@Its stock fell 12.5 cents, to $2.125, in American Stock Exchange composite trading yesterday.@@@@1@14@@oe@2-2-2013
21206001@unknown@formal@none@1@S@Next to Kohlberg Kravis Roberts's megabillion RJR Nabisco deal, SCI Television is small fry.@@@@1@14@@oe@2-2-2013
21206002@unknown@formal@none@1@S@But the troubles of SCI TV are a classic tale of the leveraged buy-out excesses of the 1980s, especially the asset-stripping game.@@@@1@22@@oe@2-2-2013
21206003@unknown@formal@none@1@S@SCI TV, which expects to release a plan to restructure $1.3 billion of debt in the next day or so, isn't just another LBO that went bad after piling on debt -- though it did do that.@@@@1@37@@oe@2-2-2013
21206004@unknown@formal@none@1@S@The cable and TV station company was an LBO of an LBO, a set of assets that were leveraged twice, enabling the blue-chip buy-out king Henry Kravis in 1987 to take more than $1 billion of cash out of the com- pany.@@@@1@42@@oe@2-2-2013
21206005@unknown@formal@none@1@S@SCI TV's buy-out was an ace in the hole for Mr. Kravis and for investors in KKR partnerships.@@@@1@18@@oe@2-2-2013
21206006@unknown@formal@none@1@S@But it has left holders of SCI TV's junk bonds holding the bag, including some heavyweights that KKR might need to finance future deals, such as Kemper Financial Services, First Executive, Columbia Savings & Loan and Prudential Insurance Co. of America.@@@@1@41@@oe@2-2-2013
21206007@unknown@formal@none@1@S@Some junk-holders are said to be considering legal action against KKR or moves to force SCI TV into bankruptcy court.@@@@1@20@@oe@2-2-2013
21206008@unknown@formal@none@1@S@And KKR's majority partner in SCI TV's buy-out, Nashville, Tenn., entrepreneur George Gillett, also is said to be very unhappy.@@@@1@20@@oe@2-2-2013
21206009@unknown@formal@none@1@S@SCI TV's six stations once were part of Storer Communications.@@@@1@10@@oe@2-2-2013
21206010@unknown@formal@none@1@S@KKR loaded up the cable and television company with debt in an 1985 buy-out, then later sold Storer's cable operations at a fat profit.@@@@1@24@@oe@2-2-2013
21206011@unknown@formal@none@1@S@In 1987, KKR for the second time piled debt onto Storer's TV stations, selling them for $1.3 billion to a new entity that was 45%-owned by KKR and 55%-owned by Gillett Corp., which now operates the SCI TV stations.@@@@1@39@@oe@2-2-2013
21206012@unknown@formal@none@1@S@In this second LBO, KKR with one hand took more than $1 billion of cash out of the TV company's assets and moved it into the Storer cable operations, making them more valuable in a 1988 sale.@@@@1@37@@oe@2-2-2013
21206013@unknown@formal@none@1@S@(Storer also took $125 million of junior SCI TV bonds as partial payment for the TV assets.)@@@@1@17@@oe@2-2-2013
21206014@unknown@formal@none@1@S@With the other hand, KKR put back into SCI TV less than 10% of the cash it had taken out, buying SCI TV common and preferred shares.@@@@1@27@@oe@2-2-2013
21206015@unknown@formal@none@1@S@So, while KKR today has an estimated $250 million sunk in now-shaky SCI TV, including equity and debt, the LBO firm still is $1 billion ahead on the SCI TV buy-out after taking cash up front.@@@@1@36@@oe@2-2-2013
21206016@unknown@formal@none@1@S@On Storer as a whole, KKR racked up compound annual returns of 60% in the three years it owned Storer.@@@@1@20@@oe@2-2-2013
21206017@unknown@formal@none@1@S@Meanwhile, Mr. Gillett risks losing his entire equity investment of about $100 million in SCI TV if the company can't be restructured.@@@@1@22@@oe@2-2-2013
21206018@unknown@formal@none@1@S@Overall, Mr. Gillett's holding company, Gillett Holdings, is heavily indebted and, except for its Vail Mountain resorts, isn't doing very well.@@@@1@21@@oe@2-2-2013
21206019@unknown@formal@none@1@S@With the TV business falling on hard times in recent years, analysts say that if SCI TV had to be liquidated today, it might fetch 30% less than in the 1987 buy-out, wiping out most of the company's junk-holders and its stockholders.@@@@1@42@@oe@2-2-2013
21206020@unknown@formal@none@1@S@Meanwhile, SCI TV can barely pay its cash interest bill, and to stay out of bankruptcy court it must soon reschedule a lot of bank loans and junk bonds that have fallen due.@@@@1@33@@oe@2-2-2013
21206021@unknown@formal@none@1@S@SCI TV's grace period for paying its bills is due to expire Nov. 16.@@@@1@14@@oe@2-2-2013
21206022@unknown@formal@none@1@S@It now is quietly circulating among creditors a preliminary plan to restructure debt.@@@@1@13@@oe@2-2-2013
21206023@unknown@formal@none@1@S@Negotiations "have started con- structively, but that's not to say we like this particular offer," says Wilbur Ross of Rothschild Inc., adviser to SCI TV junk-holders.@@@@1@26@@oe@2-2-2013
21206024@unknown@formal@none@1@S@No major player in the SCI TV deal will talk publicly.@@@@1@11@@oe@2-2-2013
21206025@unknown@formal@none@1@S@But it's understood that Mr. Kravis is disappointed that Mr. Gillett didn't manage to boost SCI TV's operating profit after the buy-out.@@@@1@22@@oe@2-2-2013
21206026@unknown@formal@none@1@S@Mr. Kravis apparently thinks SCI TV can survive if lenders extend its debt payments until TV stations rise in value again, allowing SCI TV to sell assets to pay debt.@@@@1@30@@oe@2-2-2013
21206027@unknown@formal@none@1@S@Mr. Gillett is said to be proud of his operating record; he has lifted some stations' ratings and turned around a Detroit station.@@@@1@23@@oe@2-2-2013
21206028@unknown@formal@none@1@S@As for junk-holders, they're discovering it can be a mistake to take the other side of a trade by KKR.@@@@1@20@@oe@2-2-2013
21206029@unknown@formal@none@1@S@The bonds of SCI TV now are being quoted at prices ranging from only five cents to about 60 cents on the dollar, according to R.D. Smith & Co. in New York, which trades distressed securities.@@@@1@36@@oe@2-2-2013
21206030@unknown@formal@none@1@S@People who have seen SCI TV's restructuring plan say it offers concessions by KKR and Gillett Corp.@@@@1@17@@oe@2-2-2013
21206031@unknown@formal@none@1@S@They would both give part of their combined $50 million in common equity in SCI TV to holders of SCI TV's $488 million of junk bonds, as a carrot to persuade them to accept new bonds that might reduce the value of their claims on the company.@@@@1@47@@oe@2-2-2013
21206032@unknown@formal@none@1@S@But some militant SCI TV junk-holders say that's not enough.@@@@1@10@@oe@2-2-2013
21206033@unknown@formal@none@1@S@They contend that SCI TV's equity now is worthless.@@@@1@9@@oe@2-2-2013
21206034@unknown@formal@none@1@S@They add that it isn't costing KKR anything to give up equity because of its big up-front cash profit on the buy-out, which they think contributed to SCI TV's current problems.@@@@1@31@@oe@2-2-2013
21206035@unknown@formal@none@1@S@Kemper, the biggest holder of senior SCI TV bonds, has refused to join the bond-holders committee and is said to be reviewing its legal options.@@@@1@25@@oe@2-2-2013
21206036@unknown@formal@none@1@S@To protect their claims, some junk-holders want KKR and perhaps Mr. Gillett to invest new money in SCI TV, perhaps $50 million or more.@@@@1@24@@oe@2-2-2013
21206037@unknown@formal@none@1@S@One investment banker who isn't involved in the deal says SCI TV needs at least $50 million of new equity to survive.@@@@1@22@@oe@2-2-2013
21206038@unknown@formal@none@1@S@Junk-holders say they have a stick to beat KKR with: "The threat of bankruptcy is a legitimate tool" to extract money from KKR, says one big SCI TV holder.@@@@1@29@@oe@2-2-2013
21206039@unknown@formal@none@1@S@This could be the first major bankruptcy-law proceeding for KKR, he adds.@@@@1@12@@oe@2-2-2013
21206040@unknown@formal@none@1@S@A big bankruptcy-court case might tarnish KKR's name, and provide new fuel for critics of LBOs in Washington and elsewhere.@@@@1@20@@oe@2-2-2013
21206041@unknown@formal@none@1@S@But others say junk-holders have nothing to gain by putting SCI TV into bankruptcy-law proceedings.@@@@1@15@@oe@2-2-2013
21206042@unknown@formal@none@1@S@While KKR doesn't control SCI TVwhich is unusual for a KKR investment -- it clearly has much deeper pockets than Mr. Gillett.@@@@1@22@@oe@2-2-2013
21206043@unknown@formal@none@1@S@Bankruptcy specialists say Mr. Kravis set a precedent for putting new money in sour LBOs recently when KKR restructured foundering Seaman Furniture, doubling KKR's equity stake.@@@@1@26@@oe@2-2-2013
21206044@unknown@formal@none@1@S@But with Seaman, KKR was only trying to salvage its original investment, says bankruptcy investor James Rubin of Sass Lamle Rubin in New York.@@@@1@24@@oe@2-2-2013
21206045@unknown@formal@none@1@S@By contrast, KKR probably has already made all the money it can on SCI TV.@@@@1@15@@oe@2-2-2013
21206046@unknown@formal@none@1@S@And people who know Mr. Kravis say he isn't in a hurry to pour more money into SCI TV.@@@@1@19@@oe@2-2-2013
21207001@unknown@formal@none@1@S@Rubbermaid Inc., reflecting strong earnings growth, boosted its quarterly dividend 18%, to 13 cents a share from 11 cents.@@@@1@19@@oe@2-2-2013
21207002@unknown@formal@none@1@S@The maker of household products said the new dividend is payable Dec. 1 to shares of record Nov. 10.@@@@1@19@@oe@2-2-2013
21207003@unknown@formal@none@1@S@Separately, the company's board adopted a proposal to amend its 1986 shareholder rights plan, further insulating the company from takeover.@@@@1@20@@oe@2-2-2013
21207004@unknown@formal@none@1@S@Rubbermaid officials said they aren't aware of any effort to take over the company, but believed the shareholder plan needed to be strengthened.@@@@1@23@@oe@2-2-2013
21207005@unknown@formal@none@1@S@"The board has stated repeatedly that Rubbermaid should be independent," said Walter W. Williams, Rubbermaid president.@@@@1@16@@oe@2-2-2013
21207006@unknown@formal@none@1@S@Some changes to the plan were minor adjustments, but the most significant was an amendment that provides that if any investor holds 25% or more of Rubbermaid's voting securities, each right held by others would entitle the holder to buy Rubbermaid shares with a market value of twice the right's exercise price.@@@@1@52@@oe@2-2-2013
21207007@unknown@formal@none@1@S@Mr. Williams said the exercise price is $125, meaning holders would have the right to buy $250 of Rubbermaid stock for half price, diluting the investor's 25% stake.@@@@1@28@@oe@2-2-2013
21207008@unknown@formal@none@1@S@For the third quarter, Rubbermaid earned $32.6 million, or 44 cents a share, up 16% from $28.1 million, or 38 cents a share, a year earlier.@@@@1@26@@oe@2-2-2013
21207009@unknown@formal@none@1@S@Sales rose 9.7% to $351.5 million from $320.4 million.@@@@1@9@@oe@2-2-2013
21207010@unknown@formal@none@1@S@Rubbermaid shares closed yesterday at $33.875, off 12.5 cents, in New York Stock Exchange composite trading.@@@@1@16@@oe@2-2-2013
21208001@unknown@formal@none@1@S@The stock market went on a dizzying ride as UAL, parent of United Airlines, once again led shares into a breathtaking decline and then an afternoon comeback.@@@@1@27@@oe@2-2-2013
21208002@unknown@formal@none@1@S@At the end of it all, the Dow Jones Industrial Average closed down 3.69 to 2659.22.@@@@1@16@@oe@2-2-2013
21208003@unknown@formal@none@1@S@At one point yesterday morning, the Dow was down 80.53 points.@@@@1@11@@oe@2-2-2013
21208004@unknown@formal@none@1@S@New York Stock Exchange volume was 237,960,000 shares.@@@@1@8@@oe@2-2-2013
21208005@unknown@formal@none@1@S@Declining issues swamped advancers, 1,222 to 382.@@@@1@7@@oe@2-2-2013
21208006@unknown@formal@none@1@S@Yesterday's sell-off and rebound was a powerful reminder that 11 days after the 190-point plunge on Friday the 13th, the stock market still has a bad case of nerves.@@@@1@29@@oe@2-2-2013
21208007@unknown@formal@none@1@S@Takeover stock speculation and futures-related program trading drove the industrial average through wide ranges.@@@@1@14@@oe@2-2-2013
21208008@unknown@formal@none@1@S@And there is more volatility to come.@@@@1@7@@oe@2-2-2013
21208009@unknown@formal@none@1@S@"October 13th left us with a cut and exposed nerve," said Jack Solomon, technical analyst for Bear Stearns.@@@@1@18@@oe@2-2-2013
21208010@unknown@formal@none@1@S@"People are fearful and sensitive.@@@@1@5@@oe@2-2-2013
21208011@unknown@formal@none@1@S@Everybody's finger is one inch closer to the button.@@@@1@9@@oe@2-2-2013
21208012@unknown@formal@none@1@S@I have never had as many calls as I had this morning.@@@@1@12@@oe@2-2-2013
21208013@unknown@formal@none@1@S@Volatility is here to stay."@@@@1@5@@oe@2-2-2013
21208014@unknown@formal@none@1@S@The Dow Jones Industrial Average plunged about 80 points in slightly more than one hour after the opening bell.@@@@1@19@@oe@2-2-2013
21208015@unknown@formal@none@1@S@For many, it began to look like a replay of Oct. 13.@@@@1@12@@oe@2-2-2013
21208016@unknown@formal@none@1@S@As stocks and stock-index futures fell, a trading limit was hit in the S&P 500 stock futures pit.@@@@1@18@@oe@2-2-2013
21208017@unknown@formal@none@1@S@Under a post-1987 crash reform, the Chicago Mercantile Exchange wouldn't permit the December S&P futures to fall further than 12 points for a half hour.@@@@1@25@@oe@2-2-2013
21208018@unknown@formal@none@1@S@That caused a brief period of panic selling of stocks on the Big Board.@@@@1@14@@oe@2-2-2013
21208019@unknown@formal@none@1@S@But at a critical moment, stock-index arbitrage traders showed their power and control.@@@@1@13@@oe@2-2-2013
21208020@unknown@formal@none@1@S@They scooped up hundreds of S&P futures when the market needed it most.@@@@1@13@@oe@2-2-2013
21208021@unknown@formal@none@1@S@At about 10:40 a.m. EDT, several big buy orders hit the S&P pit simultaneously, lifting the futures up out of the trading limit and eventually into ranges that caused computer-driven program buying of stocks.@@@@1@34@@oe@2-2-2013
21208022@unknown@formal@none@1@S@"It is very clear that those buy orders came from people who wanted their franchise protected," said one Chicago-based futures trader.@@@@1@21@@oe@2-2-2013
21208023@unknown@formal@none@1@S@"These guys wanted to do something to show how powerful they are."@@@@1@12@@oe@2-2-2013
21208024@unknown@formal@none@1@S@Traders said Goldman Sachs, Shearson Lehman Hutton and Salomon Brothers were the main force behind the futures buying at the pivotal moment.@@@@1@22@@oe@2-2-2013
21208025@unknown@formal@none@1@S@Shearson Lehman Hutton declined to comment.@@@@1@6@@oe@2-2-2013
21208026@unknown@formal@none@1@S@Officials at Goldman Sachs and Salomon Brothers were unavailable for comment.@@@@1@11@@oe@2-2-2013
21208027@unknown@formal@none@1@S@As in the Oct. 13 massacre, yesterday morning's drop was triggered by bad news for speculators in UAL.@@@@1@18@@oe@2-2-2013
21208028@unknown@formal@none@1@S@A UAL statement after the market closed Monday indicated that the airline's board wanted to keep the company independent, effectively crushing hopes of an immediate buy-out.@@@@1@26@@oe@2-2-2013
21208029@unknown@formal@none@1@S@Five minutes before the Big Board opened, a preliminary price was flashed for UAL -- somewhere between 135 and 155, a loss of as much as $43 a share from Monday's close.@@@@1@32@@oe@2-2-2013
21208030@unknown@formal@none@1@S@UAL finally opened for trading at 10:08 a.m. at 150, down $28.@@@@1@12@@oe@2-2-2013
21208031@unknown@formal@none@1@S@Floor traders said there was a huge crowd around the Big Board specialist's post where UAL trades.@@@@1@17@@oe@2-2-2013
21208032@unknown@formal@none@1@S@"There was a seething mass of people," said one floor trader.@@@@1@11@@oe@2-2-2013
21208033@unknown@formal@none@1@S@"Then there was a big liquidation of stock" across the board, he added.@@@@1@13@@oe@2-2-2013
21208034@unknown@formal@none@1@S@Takeover speculators -- who have already taken a record loss estimated at more than $700 million on UAL -- started selling other stocks as well as S&P futures in an attempt to hedge against a further UAL blood bath.@@@@1@39@@oe@2-2-2013
21208035@unknown@formal@none@1@S@Shortly after the UAL opening, program traders started selling stocks in the Major Market Index and S&P 500 index.@@@@1@19@@oe@2-2-2013
21208036@unknown@formal@none@1@S@The 20-stock MMI mimics the Dow Jones Industrial Average.@@@@1@9@@oe@2-2-2013
21208037@unknown@formal@none@1@S@By 10:30 a.m. the Dow was down 62.70.@@@@1@8@@oe@2-2-2013
21208038@unknown@formal@none@1@S@All 20-stocks in the MMI except Exxon, General Motors and Sears were down $1 to $2.@@@@1@16@@oe@2-2-2013
21208039@unknown@formal@none@1@S@At 10:33, when the S&P 500 December futures contract crunched to a 12-point loss under the force of sell programs, S&P futures trading was halted and program trades on the Big Board were routed into a special computer that scans for order imbalances.@@@@1@43@@oe@2-2-2013
21208040@unknown@formal@none@1@S@Under the rules adopted by the Chicago Mercantile Exchange, the futures contract cannot drop below the limit, but buyers can purchase futures.@@@@1@22@@oe@2-2-2013
21208041@unknown@formal@none@1@S@At this point, the Dow industrials were down 75.41 points and falling.@@@@1@12@@oe@2-2-2013
21208042@unknown@formal@none@1@S@The trading halt in the S&P 500 futures exacerbated selling and confusion, many traders maintain.@@@@1@15@@oe@2-2-2013
21208043@unknown@formal@none@1@S@But as the fright began to spread through the S&P pit, the big brokerage firms came in and bought futures aggressively.@@@@1@21@@oe@2-2-2013
21208044@unknown@formal@none@1@S@"It was whooosh!" said one futures trader.@@@@1@7@@oe@2-2-2013
21208045@unknown@formal@none@1@S@In five minutes, the Dow industrials climbed almost 30 points.@@@@1@10@@oe@2-2-2013
21208046@unknown@formal@none@1@S@The big futures buying triggered stock-index buy programs that eventually trimmed the Dow's loss to 31 points by 11 a.m.@@@@1@20@@oe@2-2-2013
21208047@unknown@formal@none@1@S@Traders said the futures buying was finely calculated by program traders.@@@@1@11@@oe@2-2-2013
21208048@unknown@formal@none@1@S@These firms sold stock into the big morning decline, but seeing the velocity of the market's drop, held back on their offsetting purchases of futures until the S&P futures hit the trading limit.@@@@1@33@@oe@2-2-2013
21208049@unknown@formal@none@1@S@Then they completed the other side of the trade by buying futures, which abruptly halted the stock market's decline as traders began to buy stocks.@@@@1@25@@oe@2-2-2013
21208050@unknown@formal@none@1@S@From then on, the Dow industrials held at a loss of 40 to 50 points.@@@@1@15@@oe@2-2-2013
21208051@unknown@formal@none@1@S@Then, in late-afternoon trading, hundred-thousand-share buy orders for UAL hit the market, including a 200,000-share order through Bear Stearns that seemed to spark UAL's late price surge.@@@@1@27@@oe@2-2-2013
21208052@unknown@formal@none@1@S@Almost simultaneously, PaineWebber began a very visible buy program for dozens of stocks.@@@@1@13@@oe@2-2-2013
21208053@unknown@formal@none@1@S@The combined buying rallied the Dow into a small gain, before closing at a slight loss.@@@@1@16@@oe@2-2-2013
21208054@unknown@formal@none@1@S@Some institutional traders loved the wild ride.@@@@1@7@@oe@2-2-2013
21208055@unknown@formal@none@1@S@"This is fun," asserted Susan Del Signore, head equity trader at Travelers Investment Management Co.@@@@1@15@@oe@2-2-2013
21208056@unknown@formal@none@1@S@She said she used the market's wild swings to buy shares cheaply on the sell-off.@@@@1@15@@oe@2-2-2013
21208057@unknown@formal@none@1@S@On the comeback, Ms. Del Signore unloaded shares she has been aiming to get rid of.@@@@1@16@@oe@2-2-2013
21208058@unknown@formal@none@1@S@But traders who risk money handling big blocks of stock were shaken.@@@@1@12@@oe@2-2-2013
21208059@unknown@formal@none@1@S@"This market is eating away my youth," said Chung Lew, head equity trader at Kleinwort Benson North America Inc.@@@@1@19@@oe@2-2-2013
21208060@unknown@formal@none@1@S@"Credibility sounds intangible.@@@@1@3@@oe@2-2-2013
21208061@unknown@formal@none@1@S@But I think we are losing credibility because when the market does this, it doesn't present itself as a rational investment.@@@@1@21@@oe@2-2-2013
21208062@unknown@formal@none@1@S@But if you overlook all this, it is a beautiful market for investment still."@@@@1@14@@oe@2-2-2013
21208063@unknown@formal@none@1@S@Traders attributed rallies in a number of stocks to a Japanese buy program that PaineWebber carried out as part of a shift in portfolio strategy, according to Dow Jones Professional Investor Report.@@@@1@32@@oe@2-2-2013
21208064@unknown@formal@none@1@S@Dow Jones climbed 5 3/4 to 41 on very heavy volume of 786,100 shares.@@@@1@14@@oe@2-2-2013
21208065@unknown@formal@none@1@S@Analysts said a big Japanese buy order was behind the rise.@@@@1@11@@oe@2-2-2013
21208066@unknown@formal@none@1@S@A Dow Jones spokesman said there were no corporate developments that would account for the activity.@@@@1@16@@oe@2-2-2013
21208067@unknown@formal@none@1@S@Other issues said to be included in the buy program were Procter & Gamble, which rose 2 7/8 to 133 1/2; Atlantic Richfield, which gained 2 to 103 3/4, and Rockwell International, which jumped 2 3/4 to 27 1/8.@@@@1@39@@oe@2-2-2013
21208068@unknown@formal@none@1@S@PaineWebber declined to comment.@@@@1@4@@oe@2-2-2013
21208069@unknown@formal@none@1@S@UAL finished at 170, off 8 3/8.@@@@1@7@@oe@2-2-2013
21208070@unknown@formal@none@1@S@Other airline stocks fell in response to the UAL board's decision to remain independent for now, including USAir Group, which separately reported a third-quarter loss of $1.86 a share compared with a year-ago profit.@@@@1@34@@oe@2-2-2013
21208071@unknown@formal@none@1@S@USAir fell 2 1/2 to 40.@@@@1@6@@oe@2-2-2013
21208072@unknown@formal@none@1@S@AMR, the parent of American Airlines, fell 1 3/4 to 68 7/8 on 2.3 million shares; Delta Air Lines lost 1 1/2 to 66, Southwest Airlines slid 3/4 to 24 1/4 and Midway Airlines dropped 1/4 to 14 7/8.@@@@1@39@@oe@2-2-2013
21208073@unknown@formal@none@1@S@Texas Air, which owns Continental and Eastern airlines, lost 3/8 to 13 1/8 on the American Stock Exchange.@@@@1@18@@oe@2-2-2013
21208074@unknown@formal@none@1@S@Metals stocks also were especially weak, as concerns about the earnings outlook for cyclical companies weighed on the group.@@@@1@19@@oe@2-2-2013
21208075@unknown@formal@none@1@S@Aluminum Co. of America dropped 1 1/2 to 70 1/4, Phelps Dodge fell 4 to 59 7/8, Asarco lost 1 3/8 to 31 3/4, Reynolds Metals slid 1 3/8 to 50 3/8, Amax dropped 1 1/8 to 21 5/8 and Cyprus Minerals skidded 2 to 26 3/4.@@@@1@47@@oe@2-2-2013
21208076@unknown@formal@none@1@S@Alcan Aluminium was an exception, as it gained 1 3/8 to 23 on two million shares.@@@@1@16@@oe@2-2-2013
21208077@unknown@formal@none@1@S@Goodyear Tire & Rubber tumbled 2 7/8 to 43 7/8.@@@@1@10@@oe@2-2-2013
21208078@unknown@formal@none@1@S@Its third-quarter earnings were higher than a year ago, but fell short of expectations.@@@@1@14@@oe@2-2-2013
21208079@unknown@formal@none@1@S@Other stocks in the Dow industrials that failed to benefit from the market's rebound included United Technologies, which dropped 1 to 53 5/8, and Bethle hem Steel, which fell 1 to 16 7/8.@@@@1@33@@oe@2-2-2013
21208080@unknown@formal@none@1@S@BankAmerica dropped 1 1/4 to 29 1/2 on 2.3 million shares amid rumors that the earthquake last week in the San Francisco area had caused structural damage to its headquarters building.@@@@1@31@@oe@2-2-2013
21208081@unknown@formal@none@1@S@The company denied the rumors and noted that it doesn't own the building.@@@@1@13@@oe@2-2-2013
21208082@unknown@formal@none@1@S@Stocks of California-based thrifts also were hard hit.@@@@1@8@@oe@2-2-2013
21208083@unknown@formal@none@1@S@Great Western Financial lost 1 1/8 to 20 1/2 on 1.6 million shares, Golden West Financial dropped 1 1/4 to 28 1/2 and H.F. Ahmanson dipped 5/8 to 21 1/4.@@@@1@30@@oe@2-2-2013
21208084@unknown@formal@none@1@S@HomeFed plunged 3 5/8 to 38 1/2; its third-quarter earnings were down from a year ago.@@@@1@16@@oe@2-2-2013
21208085@unknown@formal@none@1@S@Golden Valley Microwave Foods skidded 3 5/8 to 31 3/4 after warning that its fourth-quarter results could be hurt by "some fairly large international marketing expenses."@@@@1@26@@oe@2-2-2013
21208086@unknown@formal@none@1@S@Dividend-related trading swelled volume in two issues: Security Pacific, which fell 7/8 to 44 1/2 and led the Big Board's most actives list on composite volume of 14.8 million shares, and Nipsco Industries, which lost 3/8 to 17 3/8 on 4.4 million shares.@@@@1@43@@oe@2-2-2013
21208087@unknown@formal@none@1@S@Both stocks have dividend yields of about 5% and will go ex-dividend Wednesday.@@@@1@13@@oe@2-2-2013
21208088@unknown@formal@none@1@S@Kellogg surged 4 1/4 to 75.@@@@1@6@@oe@2-2-2013
21208089@unknown@formal@none@1@S@Donaldson, Lufkin & Jenrette placed the stock on its list of recommended issues.@@@@1@13@@oe@2-2-2013
21208090@unknown@formal@none@1@S@The company noted that its third-quarter results should be released later this week or early next week.@@@@1@17@@oe@2-2-2013
21208091@unknown@formal@none@1@S@Vista Chemical rose 1 3/8 to 38 5/8 after Bear Stearns added the stock to the firm's buy list, citing recent price weakness.@@@@1@23@@oe@2-2-2013
21208092@unknown@formal@none@1@S@Georgia Gulf, another producer of commodity chemicals, advanced 2 to 49 1/2; Dallas investor Harold Simmons, who holds about 10% of its shares, said he hasn't raised his stake.@@@@1@29@@oe@2-2-2013
21208093@unknown@formal@none@1@S@Norfolk Southern went up 1 1/8 to 37 7/8.@@@@1@9@@oe@2-2-2013
21208094@unknown@formal@none@1@S@The company's board approved the repurchase of up to 45 million common shares, or about 26% of its shares outstanding, through the end of 1992.@@@@1@25@@oe@2-2-2013
21208095@unknown@formal@none@1@S@Airborne Freight climbed 1 1/8 to 38 1/2.@@@@1@8@@oe@2-2-2013
21208096@unknown@formal@none@1@S@Its third-quarter earnings more than doubled from a year earlier and exceeded analysts' expectations.@@@@1@14@@oe@2-2-2013
21208097@unknown@formal@none@1@S@John Harland, which will replace American Medical International on the S&P 500 following Wednesday's close, gained 5/8 to 24 1/8.@@@@1@20@@oe@2-2-2013
21208098@unknown@formal@none@1@S@The Amex Market Value Index fell 3.10 to 376.36.@@@@1@9@@oe@2-2-2013
21208099@unknown@formal@none@1@S@Volume totaled 14,560,000 shares.@@@@1@4@@oe@2-2-2013
21209001@unknown@formal@none@1@S@GANNETT Co. raised its quarterly dividend 11% to 30 cents a share from 27 cents, payable Jan. 2, 1990, to shares of record Dec. 8, 1989.@@@@1@26@@oe@2-2-2013
21209002@unknown@formal@none@1@S@The action increases the annual dividend to $1.20 a share from $1.08.@@@@1@12@@oe@2-2-2013
21209003@unknown@formal@none@1@S@This is the 22nd year in which the Washington media company has increased dividends.@@@@1@14@@oe@2-2-2013
21209004@unknown@formal@none@1@S@Gannett's third-quarter earnings rose 11% to 52 cents a share from 47 cents in the year-ago period.@@@@1@17@@oe@2-2-2013
21209005@unknown@formal@none@1@S@Sales rose 2.9% to $827.9 million from $804.3 million.@@@@1@9@@oe@2-2-2013
21209006@unknown@formal@none@1@S@Gannett has 161 million shares outstanding.@@@@1@6@@oe@2-2-2013
21210001@unknown@formal@none@1@S@Fireman's Fund Corp. said third-quarter net income plunged 85% to $7.2 million from last year's $49.1 million, or 99 cents a share, because of ravages of Hurricane Hugo and increased reserves for legal expenses.@@@@1@34@@oe@2-2-2013
21210002@unknown@formal@none@1@S@Payout of preferred dividends resulted in a net loss of five cents a share in the most recent quarter.@@@@1@19@@oe@2-2-2013
21210003@unknown@formal@none@1@S@Revenue edged up 3.4% to $904 million from $874 million in last year's third quarter.@@@@1@15@@oe@2-2-2013
21210004@unknown@formal@none@1@S@In New York Stock Exchange composite trading, Fireman's closed at $35.50 a share, down 50 cents.@@@@1@16@@oe@2-2-2013
21210005@unknown@formal@none@1@S@Impact of the Oct. 17 San Francisco earthquake, which will be recorded in the fourth quarter, isn't expected to exceed $50 million after taxes, the company added.@@@@1@27@@oe@2-2-2013
21210006@unknown@formal@none@1@S@For the nine months, the insurance company said net fell 46% to $88.8 million, or $1.54 a share, from $164 million, or $3.16 a share, the previous year.@@@@1@28@@oe@2-2-2013
21210007@unknown@formal@none@1@S@Revenue slid 7% to $2.6 billion from $2.8 billion a year earlier.@@@@1@12@@oe@2-2-2013
21210008@unknown@formal@none@1@S@Fireman's Fund property-liability subsidiaries reported a 120.7% combined underwriting ratio for the nine months, up from 108.4% for the year-ago period.@@@@1@21@@oe@2-2-2013
21210009@unknown@formal@none@1@S@Hurricane Hugo accounted for about $36 million in pretax third-quarter losses, net of reinsurance recoveries.@@@@1@15@@oe@2-2-2013
21210010@unknown@formal@none@1@S@The company said there was an additional increase in loss and loss-expense reserves of $71 million reflecting "higher than expected" development in claims legal expenses from to prior periods.@@@@1@29@@oe@2-2-2013
21210011@unknown@formal@none@1@S@For the third quarter, net premiums were $742 million, up 9.6% from $677 million in last year's quarter, because of the expiration of the National Indemnity quota share reinsurance agreement.@@@@1@30@@oe@2-2-2013
21210012@unknown@formal@none@1@S@Net premiums written through Sept. 30 fell 5% to $2.1 billion from $2.2 billion a year ago, because of the writing of fewer policies at flat prices, the company said.@@@@1@30@@oe@2-2-2013
21210013@unknown@formal@none@1@S@Third-quarter and nine-month results don't include any provision for premium returns that could be ordered by the California Department of Insurance under Proposition 103.@@@@1@24@@oe@2-2-2013
21210014@unknown@formal@none@1@S@Fireman's Fund said it has applied for an exemption from these rate rollbacks, and plans to defend its filing in hearings before the department.@@@@1@24@@oe@2-2-2013
21211001@unknown@formal@none@1@S@CONTROL DATA Corp. said it is offering to purchase the $154.2 million amount of its 12 3/4% senior notes due June 15, 1991, at par, plus accrued interest to the Dec. 8 purchase date.@@@@1@34@@oe@2-2-2013
21211002@unknown@formal@none@1@S@The Minneapolis computer systems and services concern said the offer is required under the senior note indenture as a result of Control Data's recent sale of its disk drive subsidiary, Imprimis, to Seagate Technology Inc.@@@@1@35@@oe@2-2-2013
21212001@unknown@formal@none@1@S@Child's Game@@@@1@2@@oe@2-2-2013
21212002@unknown@formal@none@1@S@There was very slow play on the market today, They were selling and buying by halves; Instead of trading like Bears and Bulls, They behaved like cubs and calves.@@@@1@29@@oe@2-2-2013
21212003@unknown@formal@none@1@S@-- George O. Ludcke.@@@@1@4@@oe@2-2-2013
21212004@unknown@formal@none@1@S@Politrick@@@@1@1@@oe@2-2-2013
21212005@unknown@formal@none@1@S@I've learned one thing from candidates, A technique so deftly done: If a question can't be answered, Strongly answer an unasked one!@@@@1@22@@oe@2-2-2013
21212006@unknown@formal@none@1@S@-- Mimi Kay.@@@@1@3@@oe@2-2-2013
21212007@unknown@formal@none@1@S@Foresight@@@@1@1@@oe@2-2-2013
21212008@unknown@formal@none@1@S@We need to get a space platform set up soon -- just in case we want to step out for a breath of fresh air.@@@@1@25@@oe@2-2-2013
21212009@unknown@formal@none@1@S@-- Ivern Ball.@@@@1@3@@oe@2-2-2013
21213001@unknown@formal@none@1@S@After being whipsawed by a volatile stock market, Treasury bonds closed higher.@@@@1@12@@oe@2-2-2013
21213002@unknown@formal@none@1@S@But junk bonds took more hits.@@@@1@6@@oe@2-2-2013
21213003@unknown@formal@none@1@S@Early in the day, bond dealers said trading volume was heavy as large institutional investors scrambled to buy long-term Treasury bonds on speculation that the stock market's volatility would lead to a "flight-to-quality" rally.@@@@1@34@@oe@2-2-2013
21213004@unknown@formal@none@1@S@That happens when nervous stock investors dump equities and buy Treasurys, which are higher in quality and thus considered safe.@@@@1@20@@oe@2-2-2013
21213005@unknown@formal@none@1@S@"Some retail accounts, such as commercial banks and pension funds, wanted to get on the bandwagon before it was too late," said Sung Won Sohn, chief economist at Norwest Corp., Minneapolis.@@@@1@31@@oe@2-2-2013
21213006@unknown@formal@none@1@S@At one point, the Dow Jones Industrial average fell about 80 points on news that UAL Corp. decided to remain independent.@@@@1@21@@oe@2-2-2013
21213007@unknown@formal@none@1@S@In response, Treasury prices soared 1 1/8 points, or about $11.25 for each $1,000 face amount.@@@@1@16@@oe@2-2-2013
21213008@unknown@formal@none@1@S@But the gains in Treasury bonds were pared as stocks staged a partial recovery.@@@@1@14@@oe@2-2-2013
21213009@unknown@formal@none@1@S@The industrial average ended at 2659.22, down 3.69 points.@@@@1@9@@oe@2-2-2013
21213010@unknown@formal@none@1@S@Economists said the bond market's strength also is a sign that investors expect the Federal Reserve to cut interest rates amid growing evidence that the economy is slowing.@@@@1@28@@oe@2-2-2013
21213011@unknown@formal@none@1@S@While they don't expect the Fed to move right away, they say the case for lower rates is building.@@@@1@19@@oe@2-2-2013
21213012@unknown@formal@none@1@S@Yesterday, for example, the Commerce Department reported that new orders for durable goods fell 0.1%, while the nation's auto makers reported lackluster mid-October sales.@@@@1@24@@oe@2-2-2013
21213013@unknown@formal@none@1@S@The Treasury's 30-year bond ended over 1/4 point higher.@@@@1@9@@oe@2-2-2013
21213014@unknown@formal@none@1@S@Municipal, mortgage-backed and investment-grade corporate bonds rose 1/8 to 1/2 point.@@@@1@11@@oe@2-2-2013
21213015@unknown@formal@none@1@S@But high-yield, high-risk bonds fell 1/4 to 1/2 point with the stock market early in the session and never recovered.@@@@1@20@@oe@2-2-2013
21213016@unknown@formal@none@1@S@According to a trader at Drexel Burnham Lambert Inc., the hardest hit junk bonds were those issued by RJR Holdings Capital Corp., which are the easiest to sell.@@@@1@28@@oe@2-2-2013
21213017@unknown@formal@none@1@S@RJR's 14.70% bonds due 2007 fell 2 1/2 points.@@@@1@9@@oe@2-2-2013
21213018@unknown@formal@none@1@S@Trading activity in the junk market was extremely light as dealers couldn't find enough buyers to match sellers.@@@@1@18@@oe@2-2-2013
21213019@unknown@formal@none@1@S@"While the stock market was falling, most {junk bond holders} were just watching it not knowing what to do," said Paul Suckow, director of fixed-income securities at Oppenheimer Management Corp.@@@@1@30@@oe@2-2-2013
21213020@unknown@formal@none@1@S@"It was like driving down the highway watching a wreck.@@@@1@10@@oe@2-2-2013
21213021@unknown@formal@none@1@S@Everybody was rubber-necking."@@@@1@3@@oe@2-2-2013
21213022@unknown@formal@none@1@S@Adding to the junk market's jitters were reports that Donaldson, Lufkin & Jenrette Securities Corp. is having trouble structuring a $1.6 billion offering for TW Food Services Inc. and will postpone or even cancel the issue.@@@@1@36@@oe@2-2-2013
21213023@unknown@formal@none@1@S@TW is the largest franchisee of Hardee's, a fast-food restaurant, and operates several other food chains.@@@@1@16@@oe@2-2-2013
21213024@unknown@formal@none@1@S@Donaldson Lufkin wouldn't comment.@@@@1@4@@oe@2-2-2013
21213025@unknown@formal@none@1@S@Credit analysts said investors are nervous about the issue because they say the company's ability to meet debt payments is dependent on too many variables, including the sale of assets and the need to mortgage property to retire some existing debt.@@@@1@41@@oe@2-2-2013
21213026@unknown@formal@none@1@S@Also, the TW offering includes interest-deferred and pay-in-kind securities, which are currently unpopular.@@@@1@13@@oe@2-2-2013
21213027@unknown@formal@none@1@S@Meanwhile, investors turned a cold shoulder to the Treasury's sale of $10 billion of new two-year notes yesterday.@@@@1@18@@oe@2-2-2013
21213028@unknown@formal@none@1@S@"It's not too surprising that the auction was sloppy, given the volatility in the bond market because of stocks," said Robert T. McGee, a senior vice president at Tokai Bank Ltd.@@@@1@31@@oe@2-2-2013
21213029@unknown@formal@none@1@S@"People are looking past supply to lower interest rates, but they're also worried about being whipsawed by the volatility in the stock market."@@@@1@23@@oe@2-2-2013
21213030@unknown@formal@none@1@S@The new two-year notes were priced with an average yield of 7.74%.@@@@1@12@@oe@2-2-2013
21213031@unknown@formal@none@1@S@That was higher than the 7.71% to 7.73% average yield that traders had expected.@@@@1@14@@oe@2-2-2013
21213032@unknown@formal@none@1@S@In when-issued trading, the notes were quoted at a price to yield 7.78%.@@@@1@13@@oe@2-2-2013
21213033@unknown@formal@none@1@S@Sluggish demand was also evidenced by the weak 2.41-to-1 bid-to-cover ratio, which was lower than the average 2.79-to-1 ratio at the last 12 similar auctions.@@@@1@25@@oe@2-2-2013
21213034@unknown@formal@none@1@S@The ratio, which reflects the number of bids the Treasury receives for each bid accepted, is used to gauge investor demand.@@@@1@21@@oe@2-2-2013
21213035@unknown@formal@none@1@S@Dealers said players shied away from the note sale because they were concerned that prices at the time of the auction might erode if the stock market staged a recovery, which, in fact, did happen.@@@@1@35@@oe@2-2-2013
21213036@unknown@formal@none@1@S@Individual and Japanese participation in the auction was disappointing, according to dealers.@@@@1@12@@oe@2-2-2013
21213037@unknown@formal@none@1@S@"Interest by Japanese investors was limited," said Michael Moran, chief economist at Daiwa Securities America Inc.@@@@1@16@@oe@2-2-2013
21213038@unknown@formal@none@1@S@"They are typically not active in two-year note auctions, but today's participation could be viewed as lighter-than-normal."@@@@1@17@@oe@2-2-2013
21213039@unknown@formal@none@1@S@However, Mr. Moran added that the Japanese generally have a positive view of the U.S. bond market because of expectations that the dollar will remain strong and interest rates will decline.@@@@1@31@@oe@2-2-2013
21213040@unknown@formal@none@1@S@He said, "Possibly, they're waiting to buy at the (quarterly) refunding" of government debt to be held next month by the Treasury.@@@@1@22@@oe@2-2-2013
21213041@unknown@formal@none@1@S@A trader at a Japanese firm estimated that the Japanese purchased no more than 10% of the two-year notes.@@@@1@19@@oe@2-2-2013
21213042@unknown@formal@none@1@S@Treasury, Agency Securities@@@@1@3@@oe@2-2-2013
21213043@unknown@formal@none@1@S@Today investors will focus on the long-awaited auction of $4.5 billion of 30-year bonds by Resolution Funding Corp.@@@@1@18@@oe@2-2-2013
21213044@unknown@formal@none@1@S@The initial bond offering by the new government agency, which was created to help rescue the nation's troubled thrifts, isn't expected to see robust demand.@@@@1@25@@oe@2-2-2013
21213045@unknown@formal@none@1@S@A small yield premium over comparable Treasurys and a lack of liquidity is hampering dealers' efforts to drum up interest in the so-called bailout bonds.@@@@1@25@@oe@2-2-2013
21213046@unknown@formal@none@1@S@In when-issued trading, the Refcorp bonds were quoted at a price to yield 8.17%.@@@@1@14@@oe@2-2-2013
21213047@unknown@formal@none@1@S@Yesterday, the benchmark 30-year bond was quoted late at 102 18/32 to yield 7.89%, compared with 102 9/32 to yield 7.93% on Monday.@@@@1@23@@oe@2-2-2013
21213048@unknown@formal@none@1@S@The latest 10-year Treasury was quoted at 100 22/32 to yield 7.88%, compared with 100 17/32 to yield 7.9%.@@@@1@19@@oe@2-2-2013
21213049@unknown@formal@none@1@S@Short-term rates were unchanged to slightly lower.@@@@1@7@@oe@2-2-2013
21213050@unknown@formal@none@1@S@The discount rate on three-month Treasury bills was quoted at 7.52% for a bond-equivalent yield of 7.75%, while the rate on six-month Treasury bills was quoted at 7.47% for a yield of 7.85%.@@@@1@33@@oe@2-2-2013
21213051@unknown@formal@none@1@S@Rates are determined by the difference between the purchase price and face value.@@@@1@13@@oe@2-2-2013
21213052@unknown@formal@none@1@S@Thus, higher bidding narrows the investor's return while lower bidding widens it.@@@@1@12@@oe@2-2-2013
21213053@unknown@formal@none@1@S@Corporate Issues@@@@1@2@@oe@2-2-2013
21213054@unknown@formal@none@1@S@Several blue-chip companies tapped the new-issue market yesterday to take advantage of falling interest rates.@@@@1@15@@oe@2-2-2013
21213055@unknown@formal@none@1@S@Three of the largest offerings, by Exxon Capital Corp., Xerox Corp. and Citicorp, were underwritten by groups led by Salomon Brothers Inc.@@@@1@22@@oe@2-2-2013
21213056@unknown@formal@none@1@S@Exxon Capital, long-rumored to be a potential debt issuer, offered $200 million of 10-year notes priced to yield 8.31%.@@@@1@19@@oe@2-2-2013
21213057@unknown@formal@none@1@S@Citicorp issued $200 million of seven-year notes priced to yield 8.82%, and Xerox priced $150 million of six-year notes to yield 8.85%.@@@@1@22@@oe@2-2-2013
21213058@unknown@formal@none@1@S@Meanwhile, International Business Machines Corp. paved the way for a visit to the credit markets by filing a shelf registration with the Securities and Exchange Commission for $800 million in new debt.@@@@1@32@@oe@2-2-2013
21213059@unknown@formal@none@1@S@This is in addition to IBM's existing shelf registration under which $200 million in debt securities are available for issuance.@@@@1@20@@oe@2-2-2013
21213060@unknown@formal@none@1@S@In secondary trading, investment-grade corporate bonds ended 1/8 to 1/4 higher.@@@@1@11@@oe@2-2-2013
21213061@unknown@formal@none@1@S@Municipals@@@@1@1@@oe@2-2-2013
21213062@unknown@formal@none@1@S@Actively traded municipal bonds ended 1/4 to 1/2 point higher in brisk trading, despite a flood of new supply.@@@@1@19@@oe@2-2-2013
21213063@unknown@formal@none@1@S@New Jersey Turnpike Authority's 7.20% issue of 2018 finished 1/4 point stronger at 98 1/2 bid, to yield 7.32%.@@@@1@19@@oe@2-2-2013
21213064@unknown@formal@none@1@S@Traders said municipals were underpinned by influences including the climb in Treasury issue prices.@@@@1@14@@oe@2-2-2013
21213065@unknown@formal@none@1@S@Also, municipal bonds lured buying because the stock market remains wobbly, traders contended.@@@@1@13@@oe@2-2-2013
21213066@unknown@formal@none@1@S@Mainly, though, it was a favorable outlook for yesterday's new supply that propped up municipals, some traders said.@@@@1@18@@oe@2-2-2013
21213067@unknown@formal@none@1@S@Among the new issues was Massachusetts's $230 million of general obligation bonds.@@@@1@12@@oe@2-2-2013
21213068@unknown@formal@none@1@S@The bonds were won by a Goldman, Sachs & Co. group with a true interest cost of 7.17%.@@@@1@18@@oe@2-2-2013
21213069@unknown@formal@none@1@S@They were priced to yield from 6.00% in 1990 to 7.20% in 2009.@@@@1@13@@oe@2-2-2013
21213070@unknown@formal@none@1@S@The Massachusetts deal had an unsold balance of $84.3 million in late trading, the underwriter said.@@@@1@16@@oe@2-2-2013
21213071@unknown@formal@none@1@S@Mortgage-, Asset-Backed Securities@@@@1@3@@oe@2-2-2013
21213072@unknown@formal@none@1@S@Mortgage securities gained 3/32 to 9/32 point after a hectic session, with Government National Mortgage Association 8% securities as the standout issue.@@@@1@22@@oe@2-2-2013
21213073@unknown@formal@none@1@S@The Ginnie Mae issue rose amid talk of large purchases of the securities by institutional investors.@@@@1@16@@oe@2-2-2013
21213074@unknown@formal@none@1@S@The derivative markets remained active as one new issue was priced and talk circulated about more offerings in the next day or two.@@@@1@23@@oe@2-2-2013
21213075@unknown@formal@none@1@S@The Federal Home Loan Mortgage Corp. issued a $500 million real estate mortgage investment conduit backed by its 8 1/2% securities.@@@@1@21@@oe@2-2-2013
21213076@unknown@formal@none@1@S@In the asset-backed market, a big offering of Ford Motor Credit Corp. auto-loan securities was increased in size after strong institutional demand.@@@@1@22@@oe@2-2-2013
21213077@unknown@formal@none@1@S@The deal by the Ford Motor Co. unit, priced Monday, was increased to $3.05 billion from $2.58 billion.@@@@1@18@@oe@2-2-2013
21213078@unknown@formal@none@1@S@Among major pass-through issues, Ginnie Mae 9% securities for November delivery ended at 98 15/32, up 5/32, after touching an early high of 98 27/32; 8% securities were at 94 5/32, up 9/32; 9 1/2% securities at 100 15/32, up 4/32; and 10% securities at 102 11/32, up 3/32.@@@@1@49@@oe@2-2-2013
21213079@unknown@formal@none@1@S@Freddie Mac 9% securities were at 97 21/32, up 5/32.@@@@1@10@@oe@2-2-2013
21213080@unknown@formal@none@1@S@The Ginnie Mae 9% issue was yielding 9.34% to a 12-year average life assumption, as the spread above the Treasury 10-year note held at 1.46 percentage points.@@@@1@27@@oe@2-2-2013
21213081@unknown@formal@none@1@S@Foreign Bonds@@@@1@2@@oe@2-2-2013
21213082@unknown@formal@none@1@S@The Eurodollar bond market sprang to life late in the European trading session after the Dow Jones Industrial Average tumbled.@@@@1@20@@oe@2-2-2013
21213083@unknown@formal@none@1@S@Eurodollar bonds are often issued by foreign corporations, but interest and principal are paid in dollars.@@@@1@16@@oe@2-2-2013
21213084@unknown@formal@none@1@S@The bonds ended about 1/2 point higher yesterday.@@@@1@8@@oe@2-2-2013
21213085@unknown@formal@none@1@S@Prices of European government bonds also rose as U.S. stocks declined.@@@@1@11@@oe@2-2-2013
21213086@unknown@formal@none@1@S@West Germany's 7% issue due October 1999 rose 0.13 point to 99.93 to yield 7.01%, while the 6 3/4% issue due July 1994 rose 0.05 to 97.70 to yield 7.33%.@@@@1@30@@oe@2-2-2013
21213087@unknown@formal@none@1@S@Britain's 11 3/4% Treasury bond due 2003/2007 rose 17/32 to 112 6/32 to yield 10.05%, while the 12% notes due 1995 rose 11/32 to 104 2/32 to yield 10.93%.@@@@1@29@@oe@2-2-2013
21213088@unknown@formal@none@1@S@In Japan, government bond prices fell.@@@@1@6@@oe@2-2-2013
21213089@unknown@formal@none@1@S@The No. 111 4.6% bond due 1998 ended on brokers' screens at 95.22, down 0.17 point, to yield 5.41%.@@@@1@19@@oe@2-2-2013
21214001@unknown@formal@none@1@S@BSB BANCORP Inc., Binghamton, N.Y., said it increased its regular quarterly dividend 50%, to 15 cents a share from 10 cents.@@@@1@21@@oe@2-2-2013
21214002@unknown@formal@none@1@S@It is payable Dec. 10 to stock of record Nov. 24.@@@@1@11@@oe@2-2-2013
21214003@unknown@formal@none@1@S@The move was made because of the bank-holding company's increased profitability, officials said.@@@@1@13@@oe@2-2-2013
21214004@unknown@formal@none@1@S@In the third quarter, BSB earned $2 million, up from $1.8 million a year earlier.@@@@1@15@@oe@2-2-2013
21214005@unknown@formal@none@1@S@In national over-the-counter trading yesterday, BSB closed at $17.50, up 12.5 cents.@@@@1@12@@oe@2-2-2013
21214006@unknown@formal@none@1@S@BSB has 3.1 million shares outstanding.@@@@1@6@@oe@2-2-2013
21215001@unknown@formal@none@1@S@Staar Surgical Co.'s board said that it has removed Thomas R. Waggoner as president and chief executive officer and that John R. Wolf, formerly executive vice president, sales and marketing, has been named president and chief executive officer.@@@@1@38@@oe@2-2-2013
21215002@unknown@formal@none@1@S@Mr. Waggoner has been involved in a dispute with the board since August, when he ousted all the directors.@@@@1@19@@oe@2-2-2013
21215003@unknown@formal@none@1@S@Later they said they fired him, and two directors attempted to place the company under bankruptcy-law protection.@@@@1@17@@oe@2-2-2013
21215004@unknown@formal@none@1@S@A federal judge turned down the Chapter 11 petition.@@@@1@9@@oe@2-2-2013
21215005@unknown@formal@none@1@S@The company's latest announcement said Mr. Waggoner will remain a director of Staar, a maker of products for small-incision surgery.@@@@1@20@@oe@2-2-2013
21215006@unknown@formal@none@1@S@Mr. Wolf and other members of the board declined to comment on the announcement.@@@@1@14@@oe@2-2-2013
21215007@unknown@formal@none@1@S@Mr. Waggoner couldn't be reached.@@@@1@5@@oe@2-2-2013
21215008@unknown@formal@none@1@S@The Staar board also said that John R. Ford resigned as a director, and that Mr. Wolf was named a member of the board.@@@@1@24@@oe@2-2-2013
21216001@unknown@formal@none@1@S@EAST GERMANY'S KRENZ WARNED against further pro-democracy protests.@@@@1@8@@oe@2-2-2013
21216002@unknown@formal@none@1@S@After the legislature confirmed him as the Communist Party leader, Krenz said demonstrations to demand democratic freedoms could cause a "worsening of the situation, or confrontation."@@@@1@26@@oe@2-2-2013
21216003@unknown@formal@none@1@S@He also reaffirmed East Germany's allegiance to Communist orthodoxy.@@@@1@9@@oe@2-2-2013
21216004@unknown@formal@none@1@S@But as many as 12,000 people marched in East Berlin after the speech to protest his election.@@@@1@17@@oe@2-2-2013
21216005@unknown@formal@none@1@S@During the balloting, 26 members of the 500-seat Parliament voted against Krenz, a move considered unprecedented in the country's 40-year history.@@@@1@21@@oe@2-2-2013
21216006@unknown@formal@none@1@S@Officials in East Berlin, responding to complaints from opposition groups, admitted police used excessive force in dispersing protesters this month.@@@@1@20@@oe@2-2-2013
21216007@unknown@formal@none@1@S@The Iran-Contra judge agreed to allow Poindexter to subpoena the personal papers of ex-President Reagan, ruling that there was sufficient evidence that the data would be important to the defense.@@@@1@30@@oe@2-2-2013
21216008@unknown@formal@none@1@S@But the judge denied a request by the former national security adviser, who faces five criminal charges, to seek documents from Bush.@@@@1@22@@oe@2-2-2013
21216009@unknown@formal@none@1@S@San Francisco Bay area officials said nine people remain missing in the aftermath of last week's earthquake.@@@@1@17@@oe@2-2-2013
21216010@unknown@formal@none@1@S@The death toll rose to 63.@@@@1@6@@oe@2-2-2013
21216011@unknown@formal@none@1@S@The House, meanwhile, approved $2.85 billion to aid in the recovery from the temblor and from Hurricane Hugo as state legislators moved toward a temporary sales-tax increase.@@@@1@27@@oe@2-2-2013
21216012@unknown@formal@none@1@S@U.S. officials expressed skepticism over an Israeli effort to show the PLO continues to practice terrorism.@@@@1@16@@oe@2-2-2013
21216013@unknown@formal@none@1@S@Israel provided the State Department with a list of recent alleged terrorist incidents attributed to forces controlled by Arafat, but the U.S. said it wasn't satisfied that the incidents constituted terrorism.@@@@1@31@@oe@2-2-2013
21216014@unknown@formal@none@1@S@TV evangelist Jim Bakker was sentenced to 45 years in prison and fined $500,000 for defrauding followers of his PTL ministry.@@@@1@21@@oe@2-2-2013
21216015@unknown@formal@none@1@S@Bakker, who was immediately taken into custody, was convicted Oct. 5 by a federal court jury in Charlotte, N.C., of fraud and conspiracy for diverting more than $3.7 million of ministry funds for personal use.@@@@1@35@@oe@2-2-2013
21216016@unknown@formal@none@1@S@Lawmakers in Moscow voted to deny the Communist Party its 100 guaranteed seats in the Soviet Congress, meaning Gorbachev and other aides might have to face voters.@@@@1@27@@oe@2-2-2013
21216017@unknown@formal@none@1@S@In Warsaw, Shevardnadze held his first talks with the Solidarity-led government and vowed to maintain fuel supplies.@@@@1@17@@oe@2-2-2013
21216018@unknown@formal@none@1@S@Poland's premier is to visit Moscow next month.@@@@1@8@@oe@2-2-2013
21216019@unknown@formal@none@1@S@The Arab League pledged an accord for a complete Syrian troop pullout from Lebanon, where about 70,000 people marched to the headquarters of Christian leader Aoun to support his rejection of a peace plan approved Sunday by Lebanon's legislature.@@@@1@39@@oe@2-2-2013
21216020@unknown@formal@none@1@S@The plan lacked a withdrawal timetable.@@@@1@6@@oe@2-2-2013
21216021@unknown@formal@none@1@S@Pro-Iranian kidnappers renewed an offer to trade their captives in Lebanon for at least 15 Shiite Moslem comrades jailed in Kuwait.@@@@1@21@@oe@2-2-2013
21216022@unknown@formal@none@1@S@The statement by Islamic Jihad, which holds at least two U.S. hostages, was accompanied by a photograph of Associated Press correspondent Terry Anderson, longest held of 18 Western hostages.@@@@1@29@@oe@2-2-2013
21216023@unknown@formal@none@1@S@The Treasury Department said S&Ls reject blacks for mortgage loans twice as often as they reject whites.@@@@1@17@@oe@2-2-2013
21216024@unknown@formal@none@1@S@The department's Office of Thrift Supervision said that doesn't necessarily mean thrifts are biased, but conceded that it doesn't have data about applicants to determine why blacks are rejected more often.@@@@1@31@@oe@2-2-2013
21216025@unknown@formal@none@1@S@Emergency crews searched through the charred rubble of a Phillips Petroleum Co. plastics plant near Pasadena, Texas, where a series of explosions Monday killed at least two people and injured 124.@@@@1@31@@oe@2-2-2013
21216026@unknown@formal@none@1@S@Company officials said 22 workers were missing and presumed dead.@@@@1@10@@oe@2-2-2013
21216027@unknown@formal@none@1@S@Safety authorities didn't immediately know the cause of the blasts.@@@@1@10@@oe@2-2-2013
21216028@unknown@formal@none@1@S@NATO defense ministers opened a two-day meeting in Portugal to assess the alliance's nuclear-weapons needs amid reduced East-West tensions.@@@@1@19@@oe@2-2-2013
21216029@unknown@formal@none@1@S@The ministers ordered a study on the strategic role of nuclear arms in Western Europe once Soviet conventional weapons are reduced in the East bloc.@@@@1@25@@oe@2-2-2013
21216030@unknown@formal@none@1@S@The Justice Department scrambled to play down the significance of revised guidelines concerning prosecutions under the federal racketeering law.@@@@1@19@@oe@2-2-2013
21216031@unknown@formal@none@1@S@The guidelines, which discourage prosecutors from seeking court orders seizing the assets of certain racketeering defendants prior to trial, were first disclosed this week.@@@@1@24@@oe@2-2-2013
21216032@unknown@formal@none@1@S@Died: S. Clark Beise, 91, ex-president and chief executive officer of Bank of America NT&SA, Saturday, in Hillsboro, Calif.@@@@1@19@@oe@2-2-2013
21217001@unknown@formal@none@1@S@STOCK PRICES SWUNG wildly as the market reacted to an initial plunge by UAL shares, followed by a sharp rebound in the afternoon.@@@@1@23@@oe@2-2-2013
21217002@unknown@formal@none@1@S@The Dow Jones industrials, down over 80 points in the morning, closed off 3.69, at 2659.22.@@@@1@16@@oe@2-2-2013
21217003@unknown@formal@none@1@S@Bond prices surged in reaction to the sell-off in stocks, then eased slightly during the afternoon recovery.@@@@1@17@@oe@2-2-2013
21217004@unknown@formal@none@1@S@The dollar finished lower.@@@@1@4@@oe@2-2-2013
21217005@unknown@formal@none@1@S@UAL's stock regained most of an early loss amid speculation one or more investors may challenge the airline's decision to stay independent.@@@@1@22@@oe@2-2-2013
21217006@unknown@formal@none@1@S@The stock closed down $8.375, at $170, after plunging $33, to $145.@@@@1@12@@oe@2-2-2013
21217007@unknown@formal@none@1@S@Ford may seek all of Jaguar, setting the stage for a possible bidding war with GM.@@@@1@16@@oe@2-2-2013
21217008@unknown@formal@none@1@S@Jaguar has been discussing an alliance with GM, but Ford's move may derail the talks.@@@@1@15@@oe@2-2-2013
21217009@unknown@formal@none@1@S@Car and truck sales slid 20.5% in mid-October as U.S. manufacturers paid the price for heavy incentives earlier in the year.@@@@1@21@@oe@2-2-2013
21217010@unknown@formal@none@1@S@General Motors continued to be hardest hit.@@@@1@7@@oe@2-2-2013
21217011@unknown@formal@none@1@S@Durable goods orders slipped 0.1% in September, reflecting weakening auto demand after a spurt of orders for new 1990 models.@@@@1@20@@oe@2-2-2013
21217012@unknown@formal@none@1@S@Excluding transportation items, orders rose 1.8%.@@@@1@6@@oe@2-2-2013
21217013@unknown@formal@none@1@S@Norfolk Southern's board approved a buy-back of up to 45 million shares, valued at over $1.7 billion.@@@@1@17@@oe@2-2-2013
21217014@unknown@formal@none@1@S@The repurchase, coupled with an earlier buyback, will reduce the firm's shares outstanding by over 26%.@@@@1@16@@oe@2-2-2013
21217015@unknown@formal@none@1@S@PS New Hampshire received a sweetened $2.25 billion offer from Northeast Utilities, likely spurring a new round of bidding for the utility.@@@@1@22@@oe@2-2-2013
21217016@unknown@formal@none@1@S@GE executives were accused by U.S. prosecutors of providing "misleading and false" data to the Pentagon in 1985 to cover up "longstanding fraudulent" billing practices.@@@@1@25@@oe@2-2-2013
21217017@unknown@formal@none@1@S@Texaco said profit rose 11% in the quarter, partly due to a massive restructuring.@@@@1@14@@oe@2-2-2013
21217018@unknown@formal@none@1@S@Sun posted a gain.@@@@1@4@@oe@2-2-2013
21217019@unknown@formal@none@1@S@Mobil, Shell and Chevron had declines.@@@@1@6@@oe@2-2-2013
21217020@unknown@formal@none@1@S@Mobil is preparing to slash its work force in the U.S., possibly as soon as next month, sources said.@@@@1@19@@oe@2-2-2013
21217021@unknown@formal@none@1@S@Sears posted a 16% drop in third-quarter profit as U.S. retail operations recorded the first loss in over five years.@@@@1@20@@oe@2-2-2013
21217022@unknown@formal@none@1@S@The results show Sears is struggling to attract shoppers.@@@@1@9@@oe@2-2-2013
21217023@unknown@formal@none@1@S@Digital Equipment announced its first mainframe computers, targeting IBM's largest market and heating up the industry's biggest rivalry.@@@@1@18@@oe@2-2-2013
21217024@unknown@formal@none@1@S@Cray Research expects supercomputer sales to be flat next year, the latest in a series of negative announcements by the company.@@@@1@21@@oe@2-2-2013
21217025@unknown@formal@none@1@S@Short interest increased 6% in the Nasdaq over-the-counter market for the month ended Oct. 13.@@@@1@15@@oe@2-2-2013
21217026@unknown@formal@none@1@S@Salomon posted an unexpectedly big gain in quarterly earnings, aided by its securities trading and investment banking activities.@@@@1@18@@oe@2-2-2013
21217027@unknown@formal@none@1@S@Procter & Gamble's profit surged 38% in its latest fiscal quarter, aided by a gain from a legal settlement and continued growth overseas.@@@@1@23@@oe@2-2-2013
21217028@unknown@formal@none@1@S@Goodyear's profit rose 11% in the quarter, buoyed by improved operating results in its tire business.@@@@1@16@@oe@2-2-2013
21217029@unknown@formal@none@1@S@Markets --@@@@1@2@@oe@2-2-2013
21217030@unknown@formal@none@1@S@Stocks: Volume 237,960,000 shares.@@@@1@4@@oe@2-2-2013
21217031@unknown@formal@none@1@S@Dow Jones industrials 2659.22, off 3.69; transportation 1210.70, off 25.96; utilities 215.04, off 0.31.@@@@1@14@@oe@2-2-2013
21217032@unknown@formal@none@1@S@Bonds: Shearson Lehman Hutton Treasury index 3425.22, up@@@@1@8@@oe@2-2-2013
21217033@unknown@formal@none@1@S@Commodities: Dow Jones futures index 129.24, off 0.25; spot index 130.76, off 0.88.@@@@1@13@@oe@2-2-2013
21217034@unknown@formal@none@1@S@Dollar: 141.45 yen, off 0.45; 1.8355 marks, off 0.0115.@@@@1@9@@oe@2-2-2013
21218001@unknown@formal@none@1@S@Genetic Defect Spotted In 3-Day-Old Embryo@@@@1@6@@oe@2-2-2013
21218002@unknown@formal@none@1@S@RESEARCHERS diagnosed a genetic defect in a three-day-old mouse embryo in an experiment directly applicable to humans.@@@@1@17@@oe@2-2-2013
21218003@unknown@formal@none@1@S@Prenatal diagnosis of genetic defects as early as the sixth week of pregnancy is increasingly common today.@@@@1@17@@oe@2-2-2013
21218004@unknown@formal@none@1@S@But the mouse experiment at a Medical Research Council laboratory in London shows genetic defects can be detected three days after conception using a new American-developed gene-copying technique.@@@@1@28@@oe@2-2-2013
21218005@unknown@formal@none@1@S@The experiment, applicable to many genetic disorders, involved beta-thalassemia, a severe blood anemia resulting from a missing hemoglobin gene.@@@@1@19@@oe@2-2-2013
21218006@unknown@formal@none@1@S@It's an inherited human disorder that's been duplicated in mice.@@@@1@10@@oe@2-2-2013
21218007@unknown@formal@none@1@S@In the experiment, mice with the defective gene were mated.@@@@1@10@@oe@2-2-2013
21218008@unknown@formal@none@1@S@Three days later, before the new embryo had become implanted in the uterus, it was washed out of the mother mouse.@@@@1@21@@oe@2-2-2013
21218009@unknown@formal@none@1@S@The embryo had progressed only to a clump of eight identical cells.@@@@1@12@@oe@2-2-2013
21218010@unknown@formal@none@1@S@One cell was teased out, and its DNA extracted.@@@@1@9@@oe@2-2-2013
21218011@unknown@formal@none@1@S@Using the new technique developed by Cetus Corp., called the polymerase chain reaction, the scientists rapidly made millions of copies of the section of DNA that ordinarily contains the hemoglobin gene, providing enough copies to test.@@@@1@36@@oe@2-2-2013
21218012@unknown@formal@none@1@S@A genetic probe showed the hemoglobin gene was missing, the researchers report in the medical journal Lancet.@@@@1@17@@oe@2-2-2013
21218013@unknown@formal@none@1@S@In the report, two molecular biologists suggest such embryo diagnosis can be used by couples at high risk of passing a genetic defect to a child.@@@@1@26@@oe@2-2-2013
21218014@unknown@formal@none@1@S@For example, infertile couples who have the woman's eggs fertilized in the test tube usually have several eggs fertilized at a time.@@@@1@22@@oe@2-2-2013
21218015@unknown@formal@none@1@S@When the fertilized cells divide to eight cells, a single cell from each embryo can be tested for genetic defects.@@@@1@20@@oe@2-2-2013
21218016@unknown@formal@none@1@S@A healthy embryo can be picked for implantation and defective ones discarded.@@@@1@12@@oe@2-2-2013
21218017@unknown@formal@none@1@S@Or in other couples, the embryo could be temporarily taken out and tested three days after conception and returned if healthy, or discarded if not.@@@@1@25@@oe@2-2-2013
21218018@unknown@formal@none@1@S@Yeast Adapted to Make Gene-Spliced Drugs@@@@1@6@@oe@2-2-2013
21218019@unknown@formal@none@1@S@AN OIL COMPANY finds a sideline in the microscopic world of yeast.@@@@1@12@@oe@2-2-2013
21218020@unknown@formal@none@1@S@In the early 1970s, when the "world food crisis" was a major worry, Phillips Petroleum Co., like several other big companies, began developing "single-cell protein," edible protein made by microbes feeding on non-edible materials.@@@@1@34@@oe@2-2-2013
21218021@unknown@formal@none@1@S@Phillips found and improved a yeast, "Pichia pastoris," which made protein from natural gas-derived alcohol.@@@@1@15@@oe@2-2-2013
21218022@unknown@formal@none@1@S@It also could convert glucose from farm wastes into edible protein.@@@@1@11@@oe@2-2-2013
21218023@unknown@formal@none@1@S@Single-cell protein never panned out, and most companies abandoned such research.@@@@1@11@@oe@2-2-2013
21218024@unknown@formal@none@1@S@But Phillips persisted, calling in scientists from the Salk Institute.@@@@1@10@@oe@2-2-2013
21218025@unknown@formal@none@1@S@They've now adapted the yeast to making genetically engineered drugs.@@@@1@10@@oe@2-2-2013
21218026@unknown@formal@none@1@S@Like the bacteria used by genetic engineers, the yeast can take in human genes and churn out human proteins for medical use.@@@@1@22@@oe@2-2-2013
21218027@unknown@formal@none@1@S@But the yeast genetic apparatus is more like that of animals than the bacterial genetic apparatus.@@@@1@16@@oe@2-2-2013
21218028@unknown@formal@none@1@S@Thus, the proteins from the yeast are molecularly more like human proteins than those from bacteria.@@@@1@16@@oe@2-2-2013
21218029@unknown@formal@none@1@S@The oil company claims its yeast system also is better than bacteria at high-volume production of genetically engineered drugs.@@@@1@19@@oe@2-2-2013
21218030@unknown@formal@none@1@S@Chiron Corp., an Emeryville, Calif., biotechnology firm, is seeing if the Phillips yeast can be used to make its genetically engineered human proteins.@@@@1@23@@oe@2-2-2013
21218031@unknown@formal@none@1@S@Peeking Inside Arteries From Outside the Body@@@@1@7@@oe@2-2-2013
21218032@unknown@formal@none@1@S@VISUALIZING BLOOD vessels without poking catheters into the body may come out of research at AT&T Bell Laboratories.@@@@1@18@@oe@2-2-2013
21218033@unknown@formal@none@1@S@Strokes, heart attacks, leg pains (intermittent claudication) and other problems stem from clogging of the arteries by cholesterol-rich deposits.@@@@1@19@@oe@2-2-2013
21218034@unknown@formal@none@1@S@At present, doctors can see how badly an artery is clogged only by inserting a thin catheter into the artery and injecting a fluid that makes the arteries visible on X-rays.@@@@1@31@@oe@2-2-2013
21218035@unknown@formal@none@1@S@A non-invasive method is being researched by biophysicist Lynn Jelinski at the AT&T unit.@@@@1@14@@oe@2-2-2013
21218036@unknown@formal@none@1@S@It relies on the fact that certain atoms give off detectable signals when subjected to an intense magnetic field.@@@@1@19@@oe@2-2-2013
21218037@unknown@formal@none@1@S@It's the same phenomenon used in the new MRI (magnetic resonance imaging) scanners being used in hospitals in place of X-ray scans.@@@@1@22@@oe@2-2-2013
21218038@unknown@formal@none@1@S@In the Bell Labs experiments, an MRI-type of machine, synchronized with the heartbeat via an electrocardiogram, rapidly flashes a magnetic field on and off as blood passes a certain point in a vessel.@@@@1@33@@oe@2-2-2013
21218039@unknown@formal@none@1@S@The rapidly flashing return signals from excited hydrogen atoms in the blood give a "stop-motion" movie of the blood-filled vessel, (like the "stop-motion" seen in disco dancers when a strobe light is flashing).@@@@1@33@@oe@2-2-2013
21218040@unknown@formal@none@1@S@The scientists have experimented on the tiny neck arteries of rats.@@@@1@11@@oe@2-2-2013
21218041@unknown@formal@none@1@S@They've been able to measure the minuscule movements of the artery wall as the beating heart raises and lowers the pressure of the flowing blood, a first for such tiny blood vessels, they report in Nature, a scientific journal.@@@@1@39@@oe@2-2-2013
21218042@unknown@formal@none@1@S@They now are experimenting with measuring blood flow.@@@@1@8@@oe@2-2-2013
21218043@unknown@formal@none@1@S@The ultimate hope is that the technique could identify diseased vessels.@@@@1@11@@oe@2-2-2013
21218044@unknown@formal@none@1@S@Odds and Ends@@@@1@3@@oe@2-2-2013
21218045@unknown@formal@none@1@S@TESTS ON 2,800-year-old mummies from Chile indicate ancient wood fires didn't produce dioxins or dibenzofurans, contradicting a theory the two pollutants today are coming from wood burning, General Electric Co. reports in Environmental Science & Technology magazine. . . .@@@@1@40@@oe@2-2-2013
21218046@unknown@formal@none@1@S@Almost 40% of schizophrenic men have an impaired sense of smell vs. fewer than 10% of schizophrenic women, reports the American Journal of Psychiatry.@@@@1@24@@oe@2-2-2013
21219001@unknown@formal@none@1@S@The Justice Department said it filed a lawsuit seeking more than $7.7 million from a Meredith Corp. unit on charges that the company defrauded the government on a contract to provide relocation services for federal employees.@@@@1@36@@oe@2-2-2013
21219002@unknown@formal@none@1@S@The suit, filed in federal trial court in Des Moines, Iowa, where Meredith is based, alleges that the diversified media company's relocation unit cheated the government by misrepresenting the value of government employees' homes.@@@@1@34@@oe@2-2-2013
21219003@unknown@formal@none@1@S@The government contract required Meredith Relocation Corp. to purchase employees' homes based on independent appraisals.@@@@1@15@@oe@2-2-2013
21219004@unknown@formal@none@1@S@The Justice Department alleges that the company "engaged in various forms of misrepresentation" with the goal of reducing the appraised value of employees' homes.@@@@1@24@@oe@2-2-2013
21219005@unknown@formal@none@1@S@In the suit, the department seeks to recover $7.7 million in costs incurred when the government terminated its contract with Meredith Relocation and sought other contracts to replace it.@@@@1@29@@oe@2-2-2013
21219006@unknown@formal@none@1@S@The department also said it seeks "three times the government's damages, which are presently undetermined, plus penalties."@@@@1@17@@oe@2-2-2013
21219007@unknown@formal@none@1@S@Officials with Meredith didn't have any immediate comment on the suit.@@@@1@11@@oe@2-2-2013
21220001@unknown@formal@none@1@S@Lloyd's of London said it plans to clamp down on the ability of underwriting syndicates to leave their annual accounts open beyond the customary three years.@@@@1@26@@oe@2-2-2013
21220002@unknown@formal@none@1@S@Underwriting syndicates at Lloyd's, the world's largest insurance market, generally don't close their accounts for three years, to allow for the filing of claims and litigation.@@@@1@26@@oe@2-2-2013
21220003@unknown@formal@none@1@S@When such claims and litigation extend beyond the period, the syndicates can extend their accounting deadlines.@@@@1@16@@oe@2-2-2013
21220004@unknown@formal@none@1@S@Lloyd's said there are currently 115 open account years involving 68 of the market's roughly 360 syndicates.@@@@1@17@@oe@2-2-2013
21220005@unknown@formal@none@1@S@The open-year accounting practice "is widely recognized within Lloyd's as of serious concern" to the 31,329 member investors, who underwrite insurance at Lloyd's in return for premium and investment income, Lloyd's said.@@@@1@32@@oe@2-2-2013
21220006@unknown@formal@none@1@S@The procedure causes "great uncertainty" because an investor can't be sure of his or her individual liability, Lloyd's said.@@@@1@19@@oe@2-2-2013
21220007@unknown@formal@none@1@S@As a result, the insurance market plans new measures to restrict the ability of syndicate officials to leave years open.@@@@1@20@@oe@2-2-2013
21220008@unknown@formal@none@1@S@Lloyd's said it expects to enact new rules mandating the changes by year end.@@@@1@14@@oe@2-2-2013
21220009@unknown@formal@none@1@S@Under the new rules, the officials will have to secure additional information and reports from actuaries, including an assessment of whether officials have acted reasonably.@@@@1@25@@oe@2-2-2013
21220010@unknown@formal@none@1@S@In addition, officials will have to get quotes for certain reinsurance contracts and obtain approvals from other syndicate directors.@@@@1@19@@oe@2-2-2013
21221001@unknown@formal@none@1@S@Computer Associates International Inc. reported earnings for the second quarter, ended Sept. 30, plummeted 66%, primarily because of the acquisition of Cullinet Software Inc.@@@@1@24@@oe@2-2-2013
21221002@unknown@formal@none@1@S@The nation's largest software company earned $9.6 million, or five cents a share, compared with $28 million, or 16 cents a share, a year earlier.@@@@1@25@@oe@2-2-2013
21221003@unknown@formal@none@1@S@Revenue rose 5% to $282 million from $268.3 million.@@@@1@9@@oe@2-2-2013
21221004@unknown@formal@none@1@S@The drop in earnings had been anticipated by most Wall Street analysts, but the results were reported after the market closed.@@@@1@21@@oe@2-2-2013
21221005@unknown@formal@none@1@S@Computer Associates closed at $13.625, down 25 cents, in composite trading on the New York Stock Exchange.@@@@1@17@@oe@2-2-2013
21221006@unknown@formal@none@1@S@Anthony Wang, president, attributed the drop to the disruption of the company's business resulting from the prolonged process of acquiring Cullinet.@@@@1@21@@oe@2-2-2013
21221007@unknown@formal@none@1@S@The acquisition was completed in September.@@@@1@6@@oe@2-2-2013
21221008@unknown@formal@none@1@S@In August, the company warned investors that the acquisition was being delayed, and many customers were holding off on purchase decisions until the takeover was completed.@@@@1@26@@oe@2-2-2013
21221009@unknown@formal@none@1@S@The delays mainly affected sales of data base management products, a core area for both Computer Associates and Cullinet, as well as sales of other products as part of package sales.@@@@1@31@@oe@2-2-2013
21222001@unknown@formal@none@1@S@Residents of this city soon will be seeing ads urging them to visit "Cleveland's outdoor museum" -- Lake View Cemetery.@@@@1@20@@oe@2-2-2013
21222002@unknown@formal@none@1@S@Despite such famous tenants as oil magnate John D. Rockefeller, Lake View Cemetery has fallen on hard times.@@@@1@18@@oe@2-2-2013
21222003@unknown@formal@none@1@S@So the inner-city burial ground is trying to resurrect itself with a television advertising campaign.@@@@1@15@@oe@2-2-2013
21222004@unknown@formal@none@1@S@The ads celebrate the achievements of some of Lake View's residents.@@@@1@11@@oe@2-2-2013
21222005@unknown@formal@none@1@S@A spot honoring Bill White, the inventor of chewing gum, shows a woman trying to extricate her high-heeled shoe from a wad of gum.@@@@1@24@@oe@2-2-2013
21222006@unknown@formal@none@1@S@Another focuses on Charles Brush, the first person to light a city electrically.@@@@1@13@@oe@2-2-2013
21222007@unknown@formal@none@1@S@It shows a boy hurling rocks at a street lamp.@@@@1@10@@oe@2-2-2013
21222008@unknown@formal@none@1@S@Street lights, the ad points out, "helped sharpen the arm of many a budding baseball player."@@@@1@16@@oe@2-2-2013
21222009@unknown@formal@none@1@S@Cemetery officials hope the ads, which will begin airing next month, will not only draw visitors but bolster burials and endowment fund contributions.@@@@1@23@@oe@2-2-2013
21222010@unknown@formal@none@1@S@Lake View had an operating deficit last year and has a poor reputation as an out-of-repair and crime-infested cemetery.@@@@1@19@@oe@2-2-2013
21222011@unknown@formal@none@1@S@The private, non-profit cemetery has had trouble competing against its for-profit counterparts, which use direct mail and other advertising to sell lots.@@@@1@22@@oe@2-2-2013
21222012@unknown@formal@none@1@S@"We don't want to be known as ambulance chasers," says William Garrison, Lake View's president.@@@@1@15@@oe@2-2-2013
21222013@unknown@formal@none@1@S@"We want people to think of Lake View as an historical park and educational experience. . . .@@@@1@18@@oe@2-2-2013
21222014@unknown@formal@none@1@S@A pleasant place to come and spend a few hours."@@@@1@10@@oe@2-2-2013
21222015@unknown@formal@none@1@S@Not all of the cemetery's better-known tenants lend themselves to the promotional job at hand, however.@@@@1@16@@oe@2-2-2013
21222016@unknown@formal@none@1@S@For example, President James A. Garfield is entombed here, the victim of an assassination in 1881.@@@@1@16@@oe@2-2-2013
21222017@unknown@formal@none@1@S@(Mr. Garrison notes, however, that the Garfield tomb is one of the nation's premier examples of Romanesque architecture.)@@@@1@18@@oe@2-2-2013
21222018@unknown@formal@none@1@S@Mr. Rockefeller, buried beneath a 180-foot-tall granite obelisk, didn't seem right for an ad either.@@@@1@15@@oe@2-2-2013
21222019@unknown@formal@none@1@S@The oil magnate, who spent his later years passing out dimes to counter his penny-pinching image, "isn't terribly amusing," says Barry Olson, creative director at Innis-Maggiore-Olson, Canton, Ohio, which is producing the ads.@@@@1@33@@oe@2-2-2013
21222020@unknown@formal@none@1@S@But there are plenty of other promising prospects at Lake View, promoters believe: Ernest Ball, for instance, who wrote "When Irish Eyes are Smiling," and Garrett Morgan, the inventor of the gas mask and the tri-colored traffic light.@@@@1@38@@oe@2-2-2013
21223001@unknown@formal@none@1@S@Euro Disneyland shares made a debut like Snow White yesterday while most of the London stock market looked like it had eaten the Evil Queen's poisoned apple.@@@@1@27@@oe@2-2-2013
21223002@unknown@formal@none@1@S@In its first day of when-issued trading here, Euro Disney soared like Dumbo to close at 814 pence ($13.05), up 15% from its 707-pence offering price.@@@@1@26@@oe@2-2-2013
21223003@unknown@formal@none@1@S@The overall London market, following Wall Street's early nosedive, took a late beating.@@@@1@13@@oe@2-2-2013
21223004@unknown@formal@none@1@S@The Financial Times-Stock Exchange 100-Share Index plummeted 40.4 points to close at 2149.3.@@@@1@13@@oe@2-2-2013
21223005@unknown@formal@none@1@S@Traders credited Euro Disney's share performance to the tremendous hyping of the project that the shares are destined to help finance: Walt Disney Co.'s 4,800-acre theme park 20 miles east of Paris.@@@@1@32@@oe@2-2-2013
21223006@unknown@formal@none@1@S@The park is slated to open in 1992.@@@@1@8@@oe@2-2-2013
21223007@unknown@formal@none@1@S@"The issue was very well-received -- Disney is such a well-known, you can say world-wide, name," said Vernon Dempsey, head trader of European equities at Kleinwort Benson Ltd., which is making a market in the issue.@@@@1@36@@oe@2-2-2013
21223008@unknown@formal@none@1@S@Mr. Dempsey estimated that the issue's London debut was accompanied by "very, very heavy turnover -- between five million and six million shares."@@@@1@23@@oe@2-2-2013
21223009@unknown@formal@none@1@S@Most of the buying was institutional, he added.@@@@1@8@@oe@2-2-2013
21223010@unknown@formal@none@1@S@Official trading in the shares will start in London, Paris and Brussels on Nov. 6, when the French-franc denominated offering, valued at the equivalent of nearly $1 billion, comes to market in the European Community.@@@@1@35@@oe@2-2-2013
21223011@unknown@formal@none@1@S@U.S. investors will be permitted to buy the shares from EC investors 90 days later.@@@@1@15@@oe@2-2-2013
21223012@unknown@formal@none@1@S@Because of the interest connected with the issue, the London exchange took the unusual step of letting traders establish an officially sanctioned when-issued market.@@@@1@24@@oe@2-2-2013
21223013@unknown@formal@none@1@S@A volatile, unofficial "gray" market in the shares has been operating in Paris for about two weeks.@@@@1@17@@oe@2-2-2013
21223014@unknown@formal@none@1@S@In contrast to the London performance, Euro Disney there closed down three francs yesterday, at 79 1/2 francs ($12.66) bid, but still about 10% over the 72-franc offering price.@@@@1@29@@oe@2-2-2013
21223015@unknown@formal@none@1@S@"A lot of people are getting hurt on this wicked whipsawing," cautioned Alistair Cuddeford, a London-based Salomon Brothers International Ltd. trader who makes a market in franc-denominated Euro Disney shares.@@@@1@30@@oe@2-2-2013
21223016@unknown@formal@none@1@S@"There should be no great rush for investors to buy this.@@@@1@11@@oe@2-2-2013
21223017@unknown@formal@none@1@S@A lot of big European banks, mostly French, and Swiss arb accounts have been buying the stock just to flip it" for a quick profit, he said.@@@@1@27@@oe@2-2-2013
21224001@unknown@formal@none@1@S@Albert Fried Jr., a 59-year-old director and holder of a 9.5% stake in the company, was named chairman of this maker of products for the construction equipment, material handling and railroad industries.@@@@1@32@@oe@2-2-2013
21224002@unknown@formal@none@1@S@He succeeds L.L. White Jr., 62, who resigned but continues as a director.@@@@1@13@@oe@2-2-2013
21224003@unknown@formal@none@1@S@Mr. Fried also is the managing partner of Albert Fried & Co.@@@@1@12@@oe@2-2-2013
21225001@unknown@formal@none@1@S@Ford Motor Co. intensified its battle with General Motors Corp. over Jaguar PLC by saying it is prepared to make a bid for all of the British auto maker when restrictions on its shareholding are lifted.@@@@1@36@@oe@2-2-2013
21225002@unknown@formal@none@1@S@The statement was part of a Ford filing with the U.S. Securities and Exchange Commission.@@@@1@15@@oe@2-2-2013
21225003@unknown@formal@none@1@S@Ford didn't say how much it might offer for Jaguar, or when.@@@@1@12@@oe@2-2-2013
21225004@unknown@formal@none@1@S@The British government currently forbids any outside investor from holding more than 15% of the company's shares without permission until Dec. 31,@@@@1@22@@oe@2-2-2013
21225005@unknown@formal@none@1@S@But with its stake in Jaguar, which it raised yesterday to 11.95%, Ford could convene a special Jaguar shareholders' meeting and urge holders to vote to drop the restriction sooner.@@@@1@30@@oe@2-2-2013
21225006@unknown@formal@none@1@S@A successful vote would put pressure on the British government to lift the restriction.@@@@1@14@@oe@2-2-2013
21225007@unknown@formal@none@1@S@"We have not made that decision" to seek a Jaguar special shareholders' meeting, said Martyn Watkins, a Ford spokesman in London.@@@@1@21@@oe@2-2-2013
21225008@unknown@formal@none@1@S@He emphasized that the car maker only would bid for all of Jaguar under the right circumstances, and said "those circumstances aren't right or possible at the moment."@@@@1@28@@oe@2-2-2013
21225009@unknown@formal@none@1@S@Last month, Ford announced plans to acquire as much as 15% of Jaguar.@@@@1@13@@oe@2-2-2013
21225010@unknown@formal@none@1@S@Since then, Jaguar officials have confirmed that they are discussing an alliance with GM and said last week that they hoped to reach an agreement within a month.@@@@1@28@@oe@2-2-2013
21225011@unknown@formal@none@1@S@Analysts have been expecting a GM-Jaguar pact that would give the U.S. car maker an eventual 30% stake in the British company and create joint ventures that would produce an executive-model range of cars.@@@@1@34@@oe@2-2-2013
21225012@unknown@formal@none@1@S@But the specter of Ford eventually launching a full-fledged bid could unravel the GM-Jaguar talks.@@@@1@15@@oe@2-2-2013
21225013@unknown@formal@none@1@S@Jaguar seems to be losing interest in giving GM a minority stake, said one individual close to the talks, adding, "It wouldn't surprise me if {Jaguar executives} want to wait and see what the color of that {Ford bid} is" first.@@@@1@41@@oe@2-2-2013
21225014@unknown@formal@none@1@S@He predicted Ford officials will meet with Jaguar executives in the next week to outline their proposed offer.@@@@1@18@@oe@2-2-2013
21225015@unknown@formal@none@1@S@Sir John Egan, Jaguar's chairman, so far has refused to meet with Ford officials, but he is believed to be willing to consider a specific bid proposal.@@@@1@27@@oe@2-2-2013
21225016@unknown@formal@none@1@S@As for GM, its "fallback position has to be a full bid itself," said Stephen Reitman, European auto-industry analyst at London brokers UBS-Phillips & Drew.@@@@1@25@@oe@2-2-2013
21225017@unknown@formal@none@1@S@A Ford takeover of Jaguar would "have such implications for the balance of power in the 1990s that General Motors can't afford to step aside.@@@@1@25@@oe@2-2-2013
21225018@unknown@formal@none@1@S@They will have to throw their hat in the ring."@@@@1@10@@oe@2-2-2013
21225019@unknown@formal@none@1@S@A GM spokesman yesterday reiterated the company's interest in acquiring a minority stake to help Jaguar remain independent.@@@@1@18@@oe@2-2-2013
21225020@unknown@formal@none@1@S@A pitched battle could mean Jaguar would fetch #10 ($16.02) a share, or about #1.8 billion ($2.88 billion), several analysts believe.@@@@1@21@@oe@2-2-2013
21225021@unknown@formal@none@1@S@The prospect of such a takeover fight has sent Jaguar shares soaring in recent weeks.@@@@1@15@@oe@2-2-2013
21225022@unknown@formal@none@1@S@U.S. takeover-stock speculators now own an estimated 25% of Jaguar shares.@@@@1@11@@oe@2-2-2013
21225023@unknown@formal@none@1@S@In a declining London stock market yesterday, Jaguar shares were down four pence from Monday in late trading, at 694 pence ($11.11) a share.@@@@1@24@@oe@2-2-2013
21225024@unknown@formal@none@1@S@In the U.S., Jaguar's American depositary receipts rose 12.5 cents in over-the-counter trading, to $11.25.@@@@1@15@@oe@2-2-2013
21225025@unknown@formal@none@1@S@Both Ford and GM badly need a luxury brand to combat new competition from the Japanese in the European and U.S. markets.@@@@1@22@@oe@2-2-2013
21225026@unknown@formal@none@1@S@And financially strapped Jaguar has spent over a year looking for a rich uncle to provide cash and technological know-how.@@@@1@20@@oe@2-2-2013
21225027@unknown@formal@none@1@S@The company has expressed a preference for GM over Ford because GM has promised it would keep Jaguar independent.@@@@1@19@@oe@2-2-2013
21225028@unknown@formal@none@1@S@Ford's need to acquire some or all of Jaguar became more acute last week when it abandoned a four-year effort to market its German-built Merkur Scorpio sedan as a European luxury import in the U.S.@@@@1@35@@oe@2-2-2013
21225029@unknown@formal@none@1@S@Then, last Friday, Ford's talks about a possible alliance with Saab-Scania AB of Sweden collapsed.@@@@1@15@@oe@2-2-2013
21225030@unknown@formal@none@1@S@GM's interest in Jaguar reflects a desire to help diversify the U.S. company's products in the growing luxury-car segment of the market.@@@@1@22@@oe@2-2-2013
21225031@unknown@formal@none@1@S@Its Opel line has a solid image and a recent string of highly successful new models, but it lacks Jaguar's cachet.@@@@1@21@@oe@2-2-2013
21225032@unknown@formal@none@1@S@GM officials also see a lot of potential in marrying Jaguar's cars to the technological know-how of Group Lotus PLC, a British engineering and specialty car maker GM bought in 1986.@@@@1@31@@oe@2-2-2013
21226001@unknown@formal@none@1@S@Texaco Inc. reported an 11% increase in third-quarter earnings, which it attributed partly to the company's massive restructuring after it emerged from bankruptcy-law proceedings 18 months ago.@@@@1@27@@oe@2-2-2013
21226002@unknown@formal@none@1@S@Sun Co. also reported higher earnings.@@@@1@6@@oe@2-2-2013
21226003@unknown@formal@none@1@S@Meanwhile, like many other oil companies hurt by less-profitable downstream businesses, Mobil Corp., Shell Oil Co. and Chevron Corp. reported lower quarterly earnings.@@@@1@23@@oe@2-2-2013
21226004@unknown@formal@none@1@S@Texaco@@@@1@1@@oe@2-2-2013
21226005@unknown@formal@none@1@S@Texaco's exploration and production earnings improved as a result of its streamlining of those operations as it sold many of its marginal producing properties over the past 18 months.@@@@1@29@@oe@2-2-2013
21226006@unknown@formal@none@1@S@An increase in production at some major oil fields in the North Sea, which had been knocked out by an explosion in July 1988, also aided results.@@@@1@27@@oe@2-2-2013
21226007@unknown@formal@none@1@S@The sale of a portion of refining and marketing operations to Saudi Arabia helped alleviate the decline in earnings from that business.@@@@1@22@@oe@2-2-2013
21226008@unknown@formal@none@1@S@"The company has been completely revamped," said Frank Knuettel, analyst for Prudential-Bache Securities Inc.@@@@1@14@@oe@2-2-2013
21226009@unknown@formal@none@1@S@Third-quarter net income at Texaco rose to $305 million from $274 million last year.@@@@1@14@@oe@2-2-2013
21226010@unknown@formal@none@1@S@Revenue declined 3.4%, to $8.4 billion from $8.7 billion.@@@@1@9@@oe@2-2-2013
21226011@unknown@formal@none@1@S@Per-share earnings declined to $1.10 a share from $1.12 a share, largely because of 21 million additional shares issued to retire $1 billion of debt.@@@@1@25@@oe@2-2-2013
21226012@unknown@formal@none@1@S@Per-share earnings also shrank because of dividends on a new series of preferred stock.@@@@1@14@@oe@2-2-2013
21226013@unknown@formal@none@1@S@Sun Sun Co.'s net income climbed 18% to $85 million, or 80 cents a share, from $72 million, or 67 cents a share.@@@@1@23@@oe@2-2-2013
21226014@unknown@formal@none@1@S@Revenue increased 11%, to $2.73 billion from $2.46 billion.@@@@1@9@@oe@2-2-2013
21226015@unknown@formal@none@1@S@Sun said some of the growth reflects higher earnings in the oil sands operation of Suncor, a majority-owned Canadian subsidiary.@@@@1@20@@oe@2-2-2013
21226016@unknown@formal@none@1@S@Chairman Robert McClements Jr. said the synthetic crude oil production from the facility rose even as the price for that oil increased.@@@@1@22@@oe@2-2-2013
21226017@unknown@formal@none@1@S@Overseas exploration and production results also improved because of additional output from the North Sea Magnus Field, a portion of which was acquired by Sun earlier this year.@@@@1@28@@oe@2-2-2013
21226018@unknown@formal@none@1@S@Results declined, however, in Sun's refining and marketing and coal businesses.@@@@1@11@@oe@2-2-2013
21226019@unknown@formal@none@1@S@Shell Oil@@@@1@2@@oe@2-2-2013
21226020@unknown@formal@none@1@S@Profits of Shell, a subsidiary of the Royal Dutch/Shell Group, tumbled $24 million, or 6.6%, to $340 million, despite a gain of $30 million from an insurance settlement.@@@@1@28@@oe@2-2-2013
21226021@unknown@formal@none@1@S@President Frank Richardson attributed the decline to lower natural gas prices, which countered higher earnings from the crude oil sector of Shell's exploration and production operation.@@@@1@26@@oe@2-2-2013
21226022@unknown@formal@none@1@S@Shaving away some of the gain in that unit was a decline in U.S. oil production to 502,000 barrels of oil a day during the quarter from 527,000 barrels a day last year.@@@@1@33@@oe@2-2-2013
21226023@unknown@formal@none@1@S@Shell's chemical earnings fell by $67 million, to $137 million, reflecting lower margins and less demand for commodity chemicals.@@@@1@19@@oe@2-2-2013
21226024@unknown@formal@none@1@S@Mobil@@@@1@1@@oe@2-2-2013
21226025@unknown@formal@none@1@S@Net income at Mobil Corp. slipped 4.5% to $532 million, or $1.30 a share, from $557 million, or $1.36 a share.@@@@1@21@@oe@2-2-2013
21226026@unknown@formal@none@1@S@Revenue declined $518 million, to $13.63 billion.@@@@1@7@@oe@2-2-2013
21226027@unknown@formal@none@1@S@Earnings included a one-time gain of $192 million on a property transaction in Hong Kong.@@@@1@15@@oe@2-2-2013
21226028@unknown@formal@none@1@S@Exploration and production profits slumped $40 million due to a provision for restructuring costs.@@@@1@14@@oe@2-2-2013
21226029@unknown@formal@none@1@S@The restructuring will take place over a two-year period and will involve the transfer and layoff of employees in U.S. operations to reduce costs and focus efforts in other areas.@@@@1@30@@oe@2-2-2013
21226030@unknown@formal@none@1@S@Last year, third-quarter earnings included a $157 million gain from foreign tax rate changes and a loss from a $65 million write-off of reserves.@@@@1@24@@oe@2-2-2013
21226031@unknown@formal@none@1@S@Chevron@@@@1@1@@oe@2-2-2013
21226032@unknown@formal@none@1@S@Chevron's net income fell 0.7%, to $417 million, or $1.22 a share, from $420 million, or $1.23 a share.@@@@1@19@@oe@2-2-2013
21226033@unknown@formal@none@1@S@Results included a $37 million gain from the sale of rights from Chevron's investment in Amax Inc., and a loss of $30 million from the sale of California oil and gas properties.@@@@1@32@@oe@2-2-2013
21226034@unknown@formal@none@1@S@Revenue rose 11%, to $8 billion from $7.2 billion.@@@@1@9@@oe@2-2-2013
21226035@unknown@formal@none@1@S@Chevron said higher crude oil prices boosted profits from production operations, but margins in refining and marketing declined.@@@@1@18@@oe@2-2-2013
21226036@unknown@formal@none@1@S@Profits from U.S. exploration and production operations totaled $58 million, after the property sale loss, compared with a year-earlier $44 million loss that included a $16 million reorganization charge.@@@@1@29@@oe@2-2-2013
21226037@unknown@formal@none@1@S@Refining and marketing operations earned $130 million in the quarter this year, compared with earnings of $186 million a year earlier that included $18 million in charges for environmental programs.@@@@1@30@@oe@2-2-2013
21226038@unknown@formal@none@1@S@Foreign earnings fell to $180 million from $182 million that included a $48 million gain from lower Canadian and Australian taxes.@@@@1@21@@oe@2-2-2013
21226039@unknown@formal@none@1@S@Chemical profits fell to $78 million from $98 million.@@@@1@9@@oe@2-2-2013
21226040@unknown@formal@none@1@S@Jeff Rowe contributed to this article.@@@@1@6@@oe@2-2-2013
21227001@unknown@formal@none@1@S@Asarco Inc., continuing its effort to refocus its business, ended its involvement in asbestos mining in the third quarter and said it would stop mining and selling coal by year end.@@@@1@31@@oe@2-2-2013
21227002@unknown@formal@none@1@S@The mining, metal and specialty-chemical concern said combined revenue for asbestos and coal was about $40 million of the company's total revenue in 1988 of $1.98 billion.@@@@1@27@@oe@2-2-2013
21227003@unknown@formal@none@1@S@Richard de J. Osborne, chairman, president and chief executive officer, said the company's "decisions to get out of asbestos and high-sulfur coal continue the process of simplifying and focusing the company in areas with a better future."@@@@1@37@@oe@2-2-2013
21227004@unknown@formal@none@1@S@Asarco also reported third-quarter net income rose 14%, to $52.7 million, or $1.25 a share, from a restated $46.2 million, or $1.10 a share, a year earlier.@@@@1@27@@oe@2-2-2013
21227005@unknown@formal@none@1@S@Asarco said the gain reflected continued strength in prices for refined copper, lead and zinc, and higher equity earnings in Mexico Desarrollo Industrial Minero S.A., a Mexican mining company in which Asarco has a 34% stake.@@@@1@36@@oe@2-2-2013
21227006@unknown@formal@none@1@S@The 1988 results were restated for accounting-rules changes.@@@@1@8@@oe@2-2-2013
21227007@unknown@formal@none@1@S@Sales rose 4.5% to $522.3 million from $499.4 million.@@@@1@9@@oe@2-2-2013
21227008@unknown@formal@none@1@S@In August, Asarco, through its Lac d'Amiante du Quebec subsidiary, sold its remaining one-third interest in an asbestos mining limited partnership in Canada for $11.7 million.@@@@1@26@@oe@2-2-2013
21227009@unknown@formal@none@1@S@Asarco said it plans to shut down or sell its Rapatee coal mine and will end its involvement in southern Illinois strip mining.@@@@1@23@@oe@2-2-2013
21227010@unknown@formal@none@1@S@The company said that it is discussing a management-employee buy-out of the facility, but that it would stop mining and selling coal at year end when existing sales contracts expire, regardless of the outcome of those talks.@@@@1@37@@oe@2-2-2013
21227011@unknown@formal@none@1@S@In New York Stock Exchange composite trading, Asarco fell $1.375 to close at $31.75.@@@@1@14@@oe@2-2-2013
21228001@unknown@formal@none@1@S@Companies listed below reported quarterly profit substantially different from the average of analysts' estimates.@@@@1@14@@oe@2-2-2013
21228002@unknown@formal@none@1@S@The companies are followed by at least three analysts, and had a minimum five-cent change in actual earnings per share.@@@@1@20@@oe@2-2-2013
21228003@unknown@formal@none@1@S@Estimated and actual results involving losses are omitted.@@@@1@8@@oe@2-2-2013
21228004@unknown@formal@none@1@S@The percent difference compares actual profit with the 30-day estimate where at least three analysts have issues forecasts in the past 30 days.@@@@1@23@@oe@2-2-2013
21228005@unknown@formal@none@1@S@Otherwise, actual profit is compared with the 300-day estimate.@@@@1@9@@oe@2-2-2013
21229001@unknown@formal@none@1@S@David W. Lodge was elected vice president and chief financial officer, effective Nov. 1.@@@@1@14@@oe@2-2-2013
21229002@unknown@formal@none@1@S@Mr. Lodge, 48 years old, a former finance executive at Singer Sewing Machine Co. and Celanese Corp., succeeds Francis L. Brophy, 64, who plans to retire from the company next year.@@@@1@31@@oe@2-2-2013
21230001@unknown@formal@none@1@S@Carlos A. Salvagni, vice president, pharmaceutical manufacturing, will assume responsibility for manufacturing in Kalamazoo, Mich., effective Nov. 1.@@@@1@18@@oe@2-2-2013
21230002@unknown@formal@none@1@S@Mr. Salvagni, 53 years old, succeeds John C. Griffin, 57, who is retiring as corporate vice president of pharmaceutical manufacturing.@@@@1@20@@oe@2-2-2013
21230003@unknown@formal@none@1@S@Upjohn is a world-wide provider of health-care products and services, seeds and speciality chemicals.@@@@1@14@@oe@2-2-2013
21231001@unknown@formal@none@1@S@This Brooklyn, N.Y., generic-drug maker announced a 5% stock dividend payable Dec. 15, to holders of record Nov. 15.@@@@1@19@@oe@2-2-2013
21231002@unknown@formal@none@1@S@As of Sept. 30, Halsey had 5.3 million common shares outstanding.@@@@1@11@@oe@2-2-2013
21231003@unknown@formal@none@1@S@Jay Marcus, president, said the move "reflects the confidence of our board and management in Halsey's long-term prospects and our desire to provide our shareholders with an attractive return on their investment."@@@@1@32@@oe@2-2-2013
21231004@unknown@formal@none@1@S@In American Stock Exchange composite trading, Halsey closed at $5.8125 a share, up 6.25 cents.@@@@1@15@@oe@2-2-2013
21232001@unknown@formal@none@1@S@Walter M. Brady was named a senior vice president of this insurer in the Canadian head office.@@@@1@17@@oe@2-2-2013
21232002@unknown@formal@none@1@S@He had been vice president in that office.@@@@1@8@@oe@2-2-2013
21232003@unknown@formal@none@1@S@John B. Foy was named senior vice president and remains responsible for the individual policy services department.@@@@1@17@@oe@2-2-2013
21232004@unknown@formal@none@1@S@Frank J. Ollari was named senior vice president in charge of the mortgage finance department.@@@@1@15@@oe@2-2-2013
21232005@unknown@formal@none@1@S@He had been vice president of the department, which was formerly called the real estate department.@@@@1@16@@oe@2-2-2013
21233001@unknown@formal@none@1@S@Timothy C. Brown, a vice president, was named executive vice president and a director of this lighting and specialty products concern.@@@@1@21@@oe@2-2-2013
21233002@unknown@formal@none@1@S@In the director post, Mr. Brown, 38 years old, succeeds Joseph W. Hibben, who retired from the board in August.@@@@1@20@@oe@2-2-2013
21233003@unknown@formal@none@1@S@C. Barr Schuler, 49, vice president and chief financial officer, was named senior vice president of corporate development and acquisitions, a new post.@@@@1@23@@oe@2-2-2013
21233004@unknown@formal@none@1@S@Phillip J. Stuecker, 37, vice president, secretary and treasurer, was named vice president of finance and chief financial officer.@@@@1@19@@oe@2-2-2013
21233005@unknown@formal@none@1@S@He remains secretary.@@@@1@3@@oe@2-2-2013
21234001@unknown@formal@none@1@S@Ronald B. Koenig, 55 years old, was named a senior managing director of the Gruntal & Co. brokerage subsidiary of this insurance and financial-services firm.@@@@1@25@@oe@2-2-2013
21234002@unknown@formal@none@1@S@Mr. Koenig will build the corporate-finance and investment-banking business of Gruntal, which has primarily been a retail-based firm.@@@@1@18@@oe@2-2-2013
21234003@unknown@formal@none@1@S@He was chairman and co-chief executive officer of Ladenburg, Thalmann & Co. until July, when he was named co-chairman of the investment-banking firm along with Howard L. Blum Jr., who then became the sole chief executive.@@@@1@36@@oe@2-2-2013
21234004@unknown@formal@none@1@S@Yesterday, Mr. Blum, 41, said he wasn't aware of plans at Ladenburg to name a co-chairman to succeed Mr. Koenig and said the board would need to approve any appointments or title changes.@@@@1@33@@oe@2-2-2013
21234005@unknown@formal@none@1@S@Mr. Blum added he wasn't surprised Mr. Koenig resigned, but his departure was "nothing that we desired or worked for."@@@@1@20@@oe@2-2-2013
21234006@unknown@formal@none@1@S@Mr. Koenig said: "I just got a tremendous offer from Gruntal.@@@@1@11@@oe@2-2-2013
21235001@unknown@formal@none@1@S@MCI Communications Corp. said it received a $12 million contract to provide virtual network services to Woolworth Corp.'s 5,600 corporate and retail sites in the@@@@1@25@@oe@2-2-2013
21235002@unknown@formal@none@1@S@The contract also provides for advanced billing and network management services.@@@@1@11@@oe@2-2-2013
21235003@unknown@formal@none@1@S@Woolworth said it expects to expand usage of the MCI services as it adds about 6,000 business locations over the next few years.@@@@1@23@@oe@2-2-2013
21236001@unknown@formal@none@1@S@The Philippine merchandise trade deficit widened to $1.71 billion during the first eight months of 1989 from $807 million a year earlier.@@@@1@22@@oe@2-2-2013
21236002@unknown@formal@none@1@S@Imports continued to outpace Philippine exports, despite gains in shipments abroad, the government National Statistics Office said.@@@@1@17@@oe@2-2-2013
21236003@unknown@formal@none@1@S@Exports reached $5.12 billion, up from $4.52 billion a year earlier, while imports rose to $6.81 billion from $5.33 billion.@@@@1@20@@oe@2-2-2013
21236004@unknown@formal@none@1@S@The trade deficit in the first eight months is already wider than the trade gap of $1.09 billion for all of 1988.@@@@1@22@@oe@2-2-2013
21236005@unknown@formal@none@1@S@Analysts expect the trade gap for the year to surpass $2 billion as demand for capital equipment and raw materials continues to push imports higher.@@@@1@25@@oe@2-2-2013
21237001@unknown@formal@none@1@S@Birtcher Corp. said it signed a definitive agreement with C.R. Bard Inc., a Murray Hill, N.J., maker of health-care products, for the purchase of the company's Bard/EMS Electrosurgery division for about $11 million.@@@@1@33@@oe@2-2-2013
21237002@unknown@formal@none@1@S@Birtcher, a maker of electronic medical equipment, said the transaction is expected to close on or before Nov. 30.@@@@1@19@@oe@2-2-2013
21237003@unknown@formal@none@1@S@Bard/EMS had 1988 sales of about $14 million, Birtcher said.@@@@1@10@@oe@2-2-2013
21238001@unknown@formal@none@1@S@WINSTON-SALEM, N.C. --@@@@1@3@@oe@2-2-2013
21238002@unknown@formal@none@1@S@First Wachovia Corp. said John F. McNair III will retire as president and chief executive officer of this regional banking company's Wachovia Corp. and Wachovia Bank & Trust Co. subsidiaries on Dec. 31.@@@@1@33@@oe@2-2-2013
21238003@unknown@formal@none@1@S@Mr. McNair, 62 years old, will be succeeded by L.M. "Bud" Baker Jr., 47, the parent's chief credit officer and head of its administration division.@@@@1@25@@oe@2-2-2013
21238004@unknown@formal@none@1@S@Mr. Baker will relinquish his previous positions, but a successor for him hasn't been named yet.@@@@1@16@@oe@2-2-2013
21238005@unknown@formal@none@1@S@In addition, on Jan. 1, Thomas A. Bennett, 52, will become vice chairman and chief operating officer of Wachovia and Wachovia Bank & Trust, filling a vacancy left by the retired Hans W. Wanders in April.@@@@1@36@@oe@2-2-2013
21238006@unknown@formal@none@1@S@Mr. Bennett will continue as executive in charge of the North Carolina banking operation.@@@@1@14@@oe@2-2-2013
21238007@unknown@formal@none@1@S@Messrs. Baker and Bennett have been elected directors of Wachovia and Wachovia Bank & Trust filling vacant seats on both boards.@@@@1@21@@oe@2-2-2013
21239001@unknown@formal@none@1@S@Canadian retail sales rose 0.2% in August from July, Statistics Canada, a federal agency, said.@@@@1@15@@oe@2-2-2013
21239002@unknown@formal@none@1@S@The August increase followed a 0.3% decline in July.@@@@1@9@@oe@2-2-2013
21239003@unknown@formal@none@1@S@During the past four months, retail sales have remained generally weak, advancing an average 0.2% a month, the agency said.@@@@1@20@@oe@2-2-2013
21240001@unknown@formal@none@1@S@Raw-steel production by the nation's mills decreased 0.7% last week to 1,816,000 tons from 1,828,000 tons the previous week, the American Iron and Steel Institute said.@@@@1@26@@oe@2-2-2013
21240002@unknown@formal@none@1@S@Last week's output fell 1.7% from the 1,848,000 tons produced a year earlier.@@@@1@13@@oe@2-2-2013
21240003@unknown@formal@none@1@S@The industry used 81.6% of its capability last week, compared with 82.2% the previous week and 86.2% a year ago.@@@@1@20@@oe@2-2-2013
21240004@unknown@formal@none@1@S@The American Iron and Steel Institute reported: The capability utilization rate is a calculation designed to indicate at what percent of its production capability the industry is operating in a given week.@@@@1@32@@oe@2-2-2013
21241001@unknown@formal@none@1@S@With reduced exports and rising imports, South Korea's trade surpluses with the U.S. and Europe between January and September fell sharply from a year ago, the Customs Administration said.@@@@1@29@@oe@2-2-2013
21241002@unknown@formal@none@1@S@Officials said South Korea's trade surplus with the U.S. for the first nine months of the year totaled $3.49 billion, down 43% from the same period last year on a customs-clearance basis.@@@@1@32@@oe@2-2-2013
21241003@unknown@formal@none@1@S@South Korean exports to the U.S. during the period fell 1.6% from a year ago to $15.06 billion, while imports from the U.S. soared 26% to $11.56 billion.@@@@1@28@@oe@2-2-2013
21241004@unknown@formal@none@1@S@The trade surplus with Europe was pegged at $414 million, down 57% from a year ago.@@@@1@16@@oe@2-2-2013
21241005@unknown@formal@none@1@S@Officials said South Korean exports to Europe dropped 5.3% to $3.02 billion while imports from there went up 17% to $2.61 billion.@@@@1@22@@oe@2-2-2013
21242001@unknown@formal@none@1@S@Bausch & Lomb Inc. said its pharmaceuticals subsidiary agreed to supply collagen corneal shields for animal eye surgery to a unit of International Minerals & Chemical Corp.@@@@1@27@@oe@2-2-2013
21242002@unknown@formal@none@1@S@Terms weren't disclosed.@@@@1@3@@oe@2-2-2013
21242003@unknown@formal@none@1@S@The agreement marks Bausch & Lomb's first venture selling its eye care products for use by veterinarians.@@@@1@17@@oe@2-2-2013
21242004@unknown@formal@none@1@S@The collagen corneal shield helps speed healing of the cornea after eye surgery.@@@@1@13@@oe@2-2-2013
21242005@unknown@formal@none@1@S@The product will be distributed by Pitman-Moore Inc., a subsidiary of International Minerals.@@@@1@13@@oe@2-2-2013
21243001@unknown@formal@none@1@S@France's industrial production index for July and August rose 1% from June and was up 4.6% from a year ago, according to seasonally adjusted data from the National Statistics Institute.@@@@1@30@@oe@2-2-2013
21243002@unknown@formal@none@1@S@The state agency, which usually publishes the data on monthly basis, but traditionally combines the index for the two summer-holiday months, said the advance was led by output of consumer goods, which rose 3.5% from June and was up 7.2% from a year earlier.@@@@1@44@@oe@2-2-2013
21243003@unknown@formal@none@1@S@Semifinished goods turned in a strong showing, with a monthly rise of 2% and a year-on-year advance of 3%.@@@@1@19@@oe@2-2-2013
21243004@unknown@formal@none@1@S@Food production was ahead 1.7% from June and 5.3% from a year earlier.@@@@1@13@@oe@2-2-2013
21243005@unknown@formal@none@1@S@Output in the capital-goods sector was ahead 0.9% on a monthly basis and 2.7% year on year.@@@@1@17@@oe@2-2-2013
21243006@unknown@formal@none@1@S@These gains were partly offset by output of cars and other consumer durables, which eased 3.9% from June's high level.@@@@1@20@@oe@2-2-2013
21243007@unknown@formal@none@1@S@The sector was still 8.8% above its output levels from a year earlier, however.@@@@1@14@@oe@2-2-2013
21244001@unknown@formal@none@1@S@International Minerals & Chemical Corp. said it agreed definitively to sell its international fragrance business to Bayer AG of West Germany.@@@@1@21@@oe@2-2-2013
21244002@unknown@formal@none@1@S@Terms weren't disclosed.@@@@1@3@@oe@2-2-2013
21244003@unknown@formal@none@1@S@The maker of animal health and nutrition products said the business, Creations Aromatiques of Port Valais, Switzerland, and Woodside, N.Y., is a division of its Mallinckrodt Inc. subsidiary and had sales of about $30 million for its most recent year.@@@@1@40@@oe@2-2-2013
21244004@unknown@formal@none@1@S@International Minerals said the sale will allow Mallinckrodt to focus its resources on its core businesses of medical products, specialty chemicals and flavors.@@@@1@23@@oe@2-2-2013
21245001@unknown@formal@none@1@S@Consumers Power Co. filed with the Michigan Public Service Commission a contract to buy power from the Palisades nuclear plant under a proposed new ownership arrangement for the plant.@@@@1@29@@oe@2-2-2013
21245002@unknown@formal@none@1@S@Consumers Power and Bechtel Power Corp. last year announced a joint venture to buy the plant, currently owned completely by the utility.@@@@1@22@@oe@2-2-2013
21246001@unknown@formal@none@1@S@Two Japanese scientists said they discovered an antibody that, in laboratory test-tube experiments, kills AIDS-infected cells while preserving healthy cells.@@@@1@20@@oe@2-2-2013
21246002@unknown@formal@none@1@S@If further experiments are successful, the work would represent a major advance in research on acquired immune deficiency syndrome.@@@@1@19@@oe@2-2-2013
21246003@unknown@formal@none@1@S@The drug AZT, the only treatment currently on the market, claims only to help stop the spread of AIDS, not to cure it.@@@@1@23@@oe@2-2-2013
21246004@unknown@formal@none@1@S@But several analysts and Japanese scientists familiar with the study, which was announced at a conference in Nagoya yesterday, expressed skepticism over the significance of the results.@@@@1@27@@oe@2-2-2013
21246005@unknown@formal@none@1@S@And the researchers themselves acknowledged they still must do much more work before they can say whether the treatment would actually cure humans.@@@@1@23@@oe@2-2-2013
21246006@unknown@formal@none@1@S@Shin Yonehara, a research scientist at the Tokyo Metropolitan Institute of Medical Science, said the antibody he discovered works by recognizing an antigen called a Fas-antigen, which is characteristic of an infected cell.@@@@1@33@@oe@2-2-2013
21246007@unknown@formal@none@1@S@The antibody then kills the cell.@@@@1@6@@oe@2-2-2013
21246008@unknown@formal@none@1@S@Dr. Yonehara and his partner, Nobuyuki Kobayashi of Yamaguchi University, said their experiments showed that the antibody wiped out an average of 60% of AIDS-infected cells within three days.@@@@1@29@@oe@2-2-2013
21246009@unknown@formal@none@1@S@In some of the experiments, it killed almost all the infected cells, the researchers said.@@@@1@15@@oe@2-2-2013
21246010@unknown@formal@none@1@S@Meanwhile, fewer than 10% of the healthy cells were killed.@@@@1@10@@oe@2-2-2013
21246011@unknown@formal@none@1@S@The two said they must still do more laboratory tests, then experiment on animals.@@@@1@14@@oe@2-2-2013
21246012@unknown@formal@none@1@S@They said they hoped to conduct tests on human patients in the U.S. by late next year.@@@@1@17@@oe@2-2-2013
21246013@unknown@formal@none@1@S@Japan doesn't have enough AIDS patients to do significant experimentation in that country, they said.@@@@1@15@@oe@2-2-2013
21246014@unknown@formal@none@1@S@The announcement got wide exposure in the Japanese media, and even moved some pharmaceutical stocks yesterday.@@@@1@16@@oe@2-2-2013
21246015@unknown@formal@none@1@S@But Takashi Kitamura, director of the biology department at Japan's National Institute of Health and secretary of the government's AIDS-research center, said, "I'm not so optimistic of its future use in therapeutic methods."@@@@1@33@@oe@2-2-2013
21246016@unknown@formal@none@1@S@He said some infected cells may not have the relevant antigen and so wouldn't be killed even after exposure to the antibody.@@@@1@22@@oe@2-2-2013
21246017@unknown@formal@none@1@S@"The results seem to be very premature," said Mitsuru Miyata, editor of Nikkei Biotechnology, a leading Japanese industry newsletter.@@@@1@19@@oe@2-2-2013
21246018@unknown@formal@none@1@S@Dr. Kobayashi responded that he thought the antibody could potentially kill all infected cells.@@@@1@14@@oe@2-2-2013
21246019@unknown@formal@none@1@S@But he and Dr. Yonehara said there were still several uncertainties, particularly regarding possible side effects.@@@@1@16@@oe@2-2-2013
21246020@unknown@formal@none@1@S@"Our antibody specifically killed infected cells at a very low dose, but it can also kill other cells," said Dr. Yonehara.@@@@1@21@@oe@2-2-2013
21246021@unknown@formal@none@1@S@"We don't know the effect of our antibody on the human body."@@@@1@12@@oe@2-2-2013
21246022@unknown@formal@none@1@S@AIDS isn't considered a widespread problem in Japan -- the government reports about 1,000 known carriers of the virus -- but many companies have poured substantial resources into research in recent years, hoping to cash in on a possible cure.@@@@1@40@@oe@2-2-2013
21246023@unknown@formal@none@1@S@Dr. Kitamura said about 35 projects are currently under way in Japan, and that Japanese researchers in the past year have made available three possible cures to American researchers for clinical tests.@@@@1@32@@oe@2-2-2013
21246024@unknown@formal@none@1@S@He said that when scientists from the two countries meet again in January in New Orleans, the Japanese will present at least three more drugs for human testing.@@@@1@28@@oe@2-2-2013
21246025@unknown@formal@none@1@S@AZT is the world's only prescription medicine approved for treating the disease.@@@@1@12@@oe@2-2-2013
21246026@unknown@formal@none@1@S@Wellcome PLC, a major British pharmaceutical maker, sells the drug under the name Retrovir.@@@@1@14@@oe@2-2-2013
21246027@unknown@formal@none@1@S@A Wellcome spokesman declined to comment on the discovery of the antibody in Japan.@@@@1@14@@oe@2-2-2013
21246028@unknown@formal@none@1@S@But Andrew Porter, a drug-industry analyst at Nikko Securities Co. in London, said if the product were to be successfully developed it would represent "a potential threat to the long-term viability of Retrovir.@@@@1@33@@oe@2-2-2013
21247001@unknown@formal@none@1@S@The following issues were recently filed with the Securities and Exchange Commission:@@@@1@12@@oe@2-2-2013
21247002@unknown@formal@none@1@S@American Exploration Co., offering of five million common shares, via Smith Barney, Harris Upham & Co. and Shearson Lehman Hutton Inc.@@@@1@21@@oe@2-2-2013
21247003@unknown@formal@none@1@S@Chemical Waste Management Inc., proposed global offering of 8,500,000 shares of common stock, of which seven million of the shares will be offered in the U.S. and 1,500,000 shares will be offered overseas, via Merrill Lynch Capital Markets (domestic) and Kidder, Peabody & Co. (international).@@@@1@45@@oe@2-2-2013
21247004@unknown@formal@none@1@S@Interlake Corp., proposed offering of $200 million of senior subordinated debentures, via Goldman, Sachs & Co.@@@@1@16@@oe@2-2-2013
21247005@unknown@formal@none@1@S@InterMedia Capital Corp., Robin Cable Systems L.P. and Brenmor Cable Partners, offering of senior subordinated discount reset debentures, via Drexel Burnham Lambert Inc.@@@@1@23@@oe@2-2-2013
21247006@unknown@formal@none@1@S@John Nuveen & Co., initial offerings of the Nuveen California Performance Plus Municipal Fund Inc. and the Nuveen New York Performance Plus Municipal Fund Inc., via Alex. Brown & Sons Inc.@@@@1@31@@oe@2-2-2013
21247007@unknown@formal@none@1@S@KnowledgeWare Inc., initial offering of three million shares of its common stock, of which 1,657,736 shares will be sold by the company and 1,342,264 will be sold by holders, via Montgomery Securities and Donaldson, Lufkin & Jenrette Securities Corp.@@@@1@39@@oe@2-2-2013
21247008@unknown@formal@none@1@S@MGM Grand Inc., proposed offering of six million shares of common stock, via Merrill Lynch.@@@@1@15@@oe@2-2-2013
21247009@unknown@formal@none@1@S@Microlog Corp., formerly called Old Dominion Systems Inc., offering of 1.2 million common shares, of which one million will be sold by the company, and the balance by holders, via Hambrecht & Quist and Johnston, Lemon & Co.@@@@1@38@@oe@2-2-2013
21247010@unknown@formal@none@1@S@Scott Paper Co., shelf offering of up to $360 million of debt securities, via Goldman Sachs, Salomon Brothers Inc. and Smith Barney, Harris Upham.@@@@1@24@@oe@2-2-2013
21247011@unknown@formal@none@1@S@Sullivan Graphics Inc., offering of $110 million of senior subordinated notes, via Merrill Lynch.@@@@1@14@@oe@2-2-2013
21247012@unknown@formal@none@1@S@Sun Sportswear Inc., initial offering of 1.7 million common shares, of which one million shares will be sold by the company, and the balance by a holder, via Salomon Brothers Inc. and Piper, Jaffray & Hopwood Inc.@@@@1@37@@oe@2-2-2013
21247013@unknown@formal@none@1@S@Yes Clothing Co., proposed initial offering of 776,470 common shares, of which 600,000 shares will be offered by the company and 176,470 by holders, via Seidler Amdec Securities Inc.@@@@1@29@@oe@2-2-2013
21248001@unknown@formal@none@1@S@A #320 million ($508 million) British Airways PLC rights issue flopped badly -- the victim of recent market turbulence and the collapse of the buy-out bid for United Airlines' parent, UAL Corp.@@@@1@32@@oe@2-2-2013
21248002@unknown@formal@none@1@S@The United Kingdom carrier had planned the issue to help finance its $750 million purchase of a 15% stake in UAL.@@@@1@21@@oe@2-2-2013
21248003@unknown@formal@none@1@S@But British Airways withdrew from the UAL labor-management buy-out plan last Friday, after the group failed to get bank financing for its $6.79 billion buy-out.@@@@1@25@@oe@2-2-2013
21248004@unknown@formal@none@1@S@British Airways said its shareholders accepted only 6.3% of the convertible capital bonds, but that the rest of the issue will be taken up by underwriters.@@@@1@26@@oe@2-2-2013
21248005@unknown@formal@none@1@S@Analysts said that 6.3% level marked the poorest showing for any major British rights issue since the 1987 global stock market crash.@@@@1@22@@oe@2-2-2013
21248006@unknown@formal@none@1@S@"It is close to being a record undersubscription," said Bob Bucknell, an analyst with London broker Smith New Court Securities.@@@@1@20@@oe@2-2-2013
21248007@unknown@formal@none@1@S@"Fund managers don't like to have rights issues that don't have an obvious reason.@@@@1@14@@oe@2-2-2013
21248008@unknown@formal@none@1@S@The obvious reason was (for British Air) to buy a stake in United Airlines."@@@@1@14@@oe@2-2-2013
21248009@unknown@formal@none@1@S@In a statement, British Air Chairman Lord King said the company was "obviously disappointed that the issue was not taken up, but it would have been unreasonable to expect a better result given the volatility of the stock market since the launch of the issue."@@@@1@45@@oe@2-2-2013
21248010@unknown@formal@none@1@S@But except for the embarrassment, British Air will emerge relatively unscathed from the flopped issue.@@@@1@15@@oe@2-2-2013
21248011@unknown@formal@none@1@S@Underwriters led by Lazard Brothers & Co. will pick up the rest of the airline's offer of four convertible capital bonds for every nine common shares.@@@@1@26@@oe@2-2-2013
21248012@unknown@formal@none@1@S@Lazard and other primary underwriters have reduced or eliminated their exposure by sub-underwriting the issue among U.K. institutional investors.@@@@1@19@@oe@2-2-2013
21248013@unknown@formal@none@1@S@"The (paper) loss here is very small" for these sub-underwriters, observed John Nelson, a Lazard managing director.@@@@1@17@@oe@2-2-2013
21248014@unknown@formal@none@1@S@In any case, he added, "most institutions probably won't sell" the bonds.@@@@1@12@@oe@2-2-2013
21248015@unknown@formal@none@1@S@And instead of buying the UAL stake, the U.K. carrier will be able to reduce its high debt level and build an acquisition war chest.@@@@1@25@@oe@2-2-2013
21248016@unknown@formal@none@1@S@"From a cash flow point of view, British Airways is better off not being in United Airlines in the short term," said Andy Chambers, an analyst at Nomura Research Institute in London.@@@@1@32@@oe@2-2-2013
21248017@unknown@formal@none@1@S@Added another U.K. analyst: "It gives them some cash in the back pocket for when they want to do something."@@@@1@20@@oe@2-2-2013
21248018@unknown@formal@none@1@S@For instance, British Air is continuing to negotiate with KLM Royal Dutch Airlines about each acquiring a 20% stake in Sabena World Airlines, the air transport subsidiary of the Belgian national airline.@@@@1@32@@oe@2-2-2013
21248019@unknown@formal@none@1@S@A definitive agreement had been expected by the end of July.@@@@1@11@@oe@2-2-2013
21248020@unknown@formal@none@1@S@The failed rights issue also should have a modest impact on British Air shares.@@@@1@14@@oe@2-2-2013
21248021@unknown@formal@none@1@S@The airline's share price already is far below the 210 pence ($3.33) level seen after the company announced the rights issue in late September.@@@@1@24@@oe@2-2-2013
21248022@unknown@formal@none@1@S@In late trading on London's Stock Exchange yesterday, the shares were off three pence at 194 pence.@@@@1@17@@oe@2-2-2013
21248023@unknown@formal@none@1@S@And because British Air is issuing convertible bonds rather than ordinary shares, the share price won't be directly hurt by any surplus left with underwriters after they try to sell the issue in the open market.@@@@1@36@@oe@2-2-2013
21248024@unknown@formal@none@1@S@But British Air's withdrawal from the UAL buy-out could have further repercussions.@@@@1@12@@oe@2-2-2013
21248025@unknown@formal@none@1@S@Some analysts speculated yesterday that the move has set off a board room split, which may lead to the resignation of Sir Colin Marshall, the carrier's chief executive officer.@@@@1@29@@oe@2-2-2013
21248026@unknown@formal@none@1@S@"The stories are rubbish," a British Air spokesman said.@@@@1@9@@oe@2-2-2013
21248027@unknown@formal@none@1@S@"There is no difference of opinion between (Chairman) Lord King and Sir Colin on any aspect of company policy.@@@@1@19@@oe@2-2-2013
21249001@unknown@formal@none@1@S@MINORITY RECRUITING has yet to meet hopes raised by Bush administration.@@@@1@11@@oe@2-2-2013
21249002@unknown@formal@none@1@S@Six months ago, as some personnel specialists saw it, a perception that President Bush really cared about fair employment -- after what they said was eight years of Reagan-era neglect -- was prodding top management to raise hiring goals for females, blacks and other minorities.@@@@1@45@@oe@2-2-2013
21249003@unknown@formal@none@1@S@The perception lingers, says an official at a major industrial company.@@@@1@11@@oe@2-2-2013
21249004@unknown@formal@none@1@S@But so far, he declares, there's little evidence the "new urgency" is trickling down to the managers who actually do hiring.@@@@1@21@@oe@2-2-2013
21249005@unknown@formal@none@1@S@"Is there really a commitment or an illusion of activity?" he asks.@@@@1@12@@oe@2-2-2013
21249006@unknown@formal@none@1@S@The recruiting "hasn't materialized," asserts Jeffrey Christian, who runs a search agency.@@@@1@12@@oe@2-2-2013
21249007@unknown@formal@none@1@S@Samuel Hall, Howard University's placement director, also doesn't see it.@@@@1@10@@oe@2-2-2013
21249008@unknown@formal@none@1@S@And he questions the White House dedication.@@@@1@7@@oe@2-2-2013
21249009@unknown@formal@none@1@S@"I don't think the Bush administration has done anything," he says.@@@@1@11@@oe@2-2-2013
21249010@unknown@formal@none@1@S@Recruiter Donald Clark does note an increase in searches for minority candidates.@@@@1@12@@oe@2-2-2013
21249011@unknown@formal@none@1@S@But some of the activity, he says, may reflect a rush to get "numbers in order" for end-of-year reports.@@@@1@19@@oe@2-2-2013
21249012@unknown@formal@none@1@S@PAY FOR PERFORMANCE hangs mostly on boss's subjective view.@@@@1@9@@oe@2-2-2013
21249013@unknown@formal@none@1@S@Du Pont Co. in a couple of units has installed objective tests based on earnings or return on equity.@@@@1@19@@oe@2-2-2013
21249014@unknown@formal@none@1@S@Many companies have set up machinery to assure workers a fair shake.@@@@1@12@@oe@2-2-2013
21249015@unknown@formal@none@1@S@At most firms, though, it's the immediate supervisor who decides the merit increases subordinates will be paid.@@@@1@17@@oe@2-2-2013
21249016@unknown@formal@none@1@S@Managers have "some very broad discretion," says an official at Walt Disney Co.@@@@1@13@@oe@2-2-2013
21249017@unknown@formal@none@1@S@Unocal Corp.'s top management sets guidelines, but line supervisors slice up the merit pie.@@@@1@14@@oe@2-2-2013
21249018@unknown@formal@none@1@S@Lotus Development Corp. feeds its evaluations into a computer, but only for storage; the decisions are made by supervisors.@@@@1@19@@oe@2-2-2013
21249019@unknown@formal@none@1@S@Hershey Foods Corp. strives for fairness by basing increases on quarterly reviews, annual appraisals and meetings with workers.@@@@1@18@@oe@2-2-2013
21249020@unknown@formal@none@1@S@At Chemfix Technology Inc., each supervisor's recommendation must be approved by the next boss up the line, and then sanctioned by a salary review committee.@@@@1@25@@oe@2-2-2013
21249021@unknown@formal@none@1@S@JAPANESE COMPANIES fare best in U.S. when they give Americans more say.@@@@1@12@@oe@2-2-2013
21249022@unknown@formal@none@1@S@University of Michigan researchers find the companies earn more and win a bigger market share when their American employees get a voice in planning, product development and design, including decision-making back in Japan.@@@@1@33@@oe@2-2-2013
21249023@unknown@formal@none@1@S@"You can't hire competent Americans and say, `Let them run only their own show,'" says Vladimir Pucik, who headed the study run with Egon Zehnder International, a search firm.@@@@1@29@@oe@2-2-2013
21249024@unknown@formal@none@1@S@The researchers say many Japanese companies err in the U.S. by adopting the American practice of hiring managers on the "open market."@@@@1@22@@oe@2-2-2013
21249025@unknown@formal@none@1@S@In Japan, by contrast, companies tend to develop their own talent and promote from within.@@@@1@15@@oe@2-2-2013
21249026@unknown@formal@none@1@S@The Japanese also are accused of keeping their cards too close to their vests.@@@@1@14@@oe@2-2-2013
21249027@unknown@formal@none@1@S@"Some Japanese executives are not yet . . . comfortable about sharing strategic information with their American colleagues," the researchers say.@@@@1@21@@oe@2-2-2013
21249028@unknown@formal@none@1@S@Americans stay longer with Japanese firms than American companies.@@@@1@9@@oe@2-2-2013
21249029@unknown@formal@none@1@S@But they think promotions are limited.@@@@1@6@@oe@2-2-2013
21249030@unknown@formal@none@1@S@THE HOUSE votes down a proposal to put pension plans under the control of joint labor-management boards.@@@@1@17@@oe@2-2-2013
21249031@unknown@formal@none@1@S@Some consultants had insisted it wouldn't work.@@@@1@7@@oe@2-2-2013
21249032@unknown@formal@none@1@S@LONG-TERM care insurance gains favor.@@@@1@5@@oe@2-2-2013
21249033@unknown@formal@none@1@S@More than half the people surveyed for the Employee Benefit Research Institute say they would be willing and able to pick up most of the cost of the coverage.@@@@1@29@@oe@2-2-2013
21249034@unknown@formal@none@1@S@FRINGE-BENEFIT spending by small and medium-sized employers has dropped to 25% of payroll from 29% three years ago, says the National Institute of Business Management, an advisory service.@@@@1@28@@oe@2-2-2013
21249035@unknown@formal@none@1@S@OUSTED EXECUTIVES over 50 years old take slightly less time than their younger colleagues to find a job -- 3.23 months vs. 3.26 for the juniors -- outplacement firm Challenger, Gray & Christmas finds.@@@@1@34@@oe@2-2-2013
21249036@unknown@formal@none@1@S@It's the first time in the survey's 15 years that the over-50 group came out ahead.@@@@1@16@@oe@2-2-2013
21249037@unknown@formal@none@1@S@FEAR OF AIDS hinders hiring at few hospitals.@@@@1@8@@oe@2-2-2013
21249038@unknown@formal@none@1@S@Dedication runs high.@@@@1@3@@oe@2-2-2013
21249039@unknown@formal@none@1@S@Wafaa El-Sadr, who heads the AIDS program at New York City's Harlem Hospital Center, can't find help.@@@@1@17@@oe@2-2-2013
21249040@unknown@formal@none@1@S@"I've been recruiting every single day since it's been identified that many AIDS patients come from the inner city," she says.@@@@1@21@@oe@2-2-2013
21249041@unknown@formal@none@1@S@She was the only staff physician available to treat AIDS patients last summer and now she has the help of only two doctors part time.@@@@1@25@@oe@2-2-2013
21249042@unknown@formal@none@1@S@Part of the problem, though, may reflect a general unwillingness to work with the urban poor.@@@@1@16@@oe@2-2-2013
21249043@unknown@formal@none@1@S@Parkland Memorial Hospital in Dallas says it hasn't had any problem recruiting, even after a nurse contracted the virus while injecting an AIDS patient.@@@@1@24@@oe@2-2-2013
21249044@unknown@formal@none@1@S@"I can tell you that nobody quit over it.@@@@1@9@@oe@2-2-2013
21249045@unknown@formal@none@1@S@No one panicked," a spokeswoman says.@@@@1@6@@oe@2-2-2013
21249046@unknown@formal@none@1@S@St. Paul Medical Center, also in Dallas, sees only a "minimal erosion" of support staff due to AIDS.@@@@1@18@@oe@2-2-2013
21249047@unknown@formal@none@1@S@Yale-New Haven Hospital sees no problem, says John Fenn, the chief of staff.@@@@1@13@@oe@2-2-2013
21249048@unknown@formal@none@1@S@"There are enough enlightened and spirited individuals who know their responsibilities," he says.@@@@1@13@@oe@2-2-2013
21249049@unknown@formal@none@1@S@THE CHECKOFF: At least somebody gains on layoffs.@@@@1@8@@oe@2-2-2013
21249050@unknown@formal@none@1@S@The Association of Outplacement Consulting Firms says the industry's volume has soared tenfold since 1980, to $350 million a year. . . .@@@@1@23@@oe@2-2-2013
21249051@unknown@formal@none@1@S@And somebody loses on the expected repeal of Section 89, the benefits test fought by most employers.@@@@1@17@@oe@2-2-2013
21249052@unknown@formal@none@1@S@Triad Solutions says software producers had each invested hundreds of thousands of dollars in programs that now have no use.@@@@1@20@@oe@2-2-2013
21250001@unknown@formal@none@1@S@Big gains for the ultra-right Republicans party in Baden-Wuerttemburg state municipal elections Sunday showed eroding support for Chancellor Helmut Kohl in a traditional bastion for his Christian Democratic Union.@@@@1@29@@oe@2-2-2013
21250002@unknown@formal@none@1@S@With ballots from most of the state's major cities in by yesterday morning, the Republicans came away with 10% of the vote in several of the key districts.@@@@1@28@@oe@2-2-2013
21250003@unknown@formal@none@1@S@With many rural districts yet to report ballots, election officials estimate support for Christian Democrats fell an average five percentage points statewide.@@@@1@22@@oe@2-2-2013
21250004@unknown@formal@none@1@S@The left-of-center Social Democrats and the environmental Greens party posted mixed results.@@@@1@12@@oe@2-2-2013
21250005@unknown@formal@none@1@S@Headed by a former Waffen SS sergeant and working from a nationalistic platform of anti-foreigner rhetoric, the fledgling Republicans party has scored surprising gains in earlier elections in the states of West Berlin, Hesse and North-Rhine Westphalia.@@@@1@37@@oe@2-2-2013
21250006@unknown@formal@none@1@S@With West German unemployment remaining high at two million jobless and the lack of affordable housing becoming a primary issue for next year's campaign, the Republicans are seen drawing support for their "Germans First" stand on social-welfare issues.@@@@1@38@@oe@2-2-2013
21250007@unknown@formal@none@1@S@Election analysts acknowledge that a "Red-Green" coalition of Social Democrats and Greens could edge out Chancellor Kohl's coalition in the December 1990 national election if support for the Republicans continues to spread.@@@@1@32@@oe@2-2-2013
21250008@unknown@formal@none@1@S@International investigators urged Britain to allow prosecution of suspected Nazi war criminals who took refuge there after 1945.@@@@1@18@@oe@2-2-2013
21250009@unknown@formal@none@1@S@Under current law, such suspects are immune from prosecution for acts committed while not British citizens.@@@@1@16@@oe@2-2-2013
21250010@unknown@formal@none@1@S@"If we're not careful we could become known as a haven for war criminals," said Jeff Rooker, a member of Parliament and one of several British politicians attending a London conference with government investigators from the U.S., Canada and Australia.@@@@1@40@@oe@2-2-2013
21250011@unknown@formal@none@1@S@A parliamentary inquiry found in July that more than 70 people living in Britain could have been part of death squads that roamed Nazi-occupied Eastern Europe.@@@@1@26@@oe@2-2-2013
21250012@unknown@formal@none@1@S@Parliament is expected to discuss next month whether to change the law.@@@@1@12@@oe@2-2-2013
21250013@unknown@formal@none@1@S@British investigations were prompted by a list of 17 alleged war criminals living in Britain sent to Prime Minister Margaret Thatcher in October 1986 by the Simon Wiesenthal Center in Los Angeles.@@@@1@32@@oe@2-2-2013
21250014@unknown@formal@none@1@S@In a sign of easing tension between Beijing and Hong Kong, China said it will again take back illegal immigrants caught crossing into the British colony.@@@@1@26@@oe@2-2-2013
21250015@unknown@formal@none@1@S@China had refused to repatriate citizens who sneaked into Hong Kong illegally since early this month, when the colony allowed a dissident Chinese swimmer to flee to the U.S.@@@@1@29@@oe@2-2-2013
21250016@unknown@formal@none@1@S@About 1,100 Chinese were awaiting repatriation yesterday.@@@@1@7@@oe@2-2-2013
21250017@unknown@formal@none@1@S@Italy's Foreign Ministry said it is investigating exports to the Soviet Union by an Ing. C. Olivetti & Co. subsidiary called OCN-PPL that makes numerically controlled machine tools.@@@@1@28@@oe@2-2-2013
21250018@unknown@formal@none@1@S@Although Italy's investigation of whether Olivetti had violated Western export-control rules had previously been made known, this marked the first time the unit and product were named.@@@@1@27@@oe@2-2-2013
21250019@unknown@formal@none@1@S@The U.S. is worried about the convertibility of Olivetti's machine tools to military use.@@@@1@14@@oe@2-2-2013
21250020@unknown@formal@none@1@S@However, an Olivetti spokeswoman said OCN-PPL, of which Olivetti sold the majority interest last year, "doesn't make equipment that has the type of precision necessary for sophisticated productions."@@@@1@28@@oe@2-2-2013
21250021@unknown@formal@none@1@S@Conservationists say that drift-net fishing threatens to wipe out much of the world's tuna stocks in a few years.@@@@1@19@@oe@2-2-2013
21250022@unknown@formal@none@1@S@But the Japanese Fisheries Association criticized moves to ban the practice in international waters.@@@@1@14@@oe@2-2-2013
21250023@unknown@formal@none@1@S@"It is really unfortunate for human beings to be swayed by emotional discussions," the association said.@@@@1@16@@oe@2-2-2013
21250024@unknown@formal@none@1@S@In driftnet, or "wall of death," fishing, fleets lay nets up to three miles long that trap almost everything in their path.@@@@1@22@@oe@2-2-2013
21250025@unknown@formal@none@1@S@Earlier this year, Japan said it would cut the number of its drift-net vessels in the South Pacific by two-thirds, or down to 20.@@@@1@24@@oe@2-2-2013
21250026@unknown@formal@none@1@S@Workers at Peugeot S.A.'s car plant at Sochaux, in eastern France, voted to end a six-week-old strike that has cost the Peugeot group production of 60,000 automobiles, a company spokesman said.@@@@1@31@@oe@2-2-2013
21250027@unknown@formal@none@1@S@The strikers voted to accept a series of management proposals that will give them a higher basic wage, better profit-sharing benefits and bigger annual bonuses.@@@@1@25@@oe@2-2-2013
21250028@unknown@formal@none@1@S@The spokesman said the vote at Sochaux is expected to be followed by a similar move at the company's assembly plant at Mulhouse, where the number of strikers has been whittled down to 80.@@@@1@34@@oe@2-2-2013
21250029@unknown@formal@none@1@S@About 8,000 National Union of Mineworkers members resumed their strike against De Beers Consolidated Mines Ltd. after further negotiations to settle a wage dispute broke down.@@@@1@26@@oe@2-2-2013
21250030@unknown@formal@none@1@S@Striking workers, who began striking five diamond mines on Oct. 13, had returned to work last week when the union and De Beers arranged to reopen negotiations.@@@@1@27@@oe@2-2-2013
21250031@unknown@formal@none@1@S@A De Beers spokesman said yesterday the company had offered to increase the minimum wage by 18%, while the union was demanding 26.6%.@@@@1@23@@oe@2-2-2013
21250032@unknown@formal@none@1@S@Before the two parties resumed talks last week, De Beers offered 17% and the union wanted 37.6%.@@@@1@17@@oe@2-2-2013
21250033@unknown@formal@none@1@S@China's People's Daily took note of the growing problem of computer fraud.@@@@1@12@@oe@2-2-2013
21250034@unknown@formal@none@1@S@Since the first fraud was discovered in July 1986 at an office of the People's Bank of China in Shenzhen, 15 major cases have been found, the paper said; the biggest was the theft of $235,000 from a bank in Chengdu in March 1988.@@@@1@44@@oe@2-2-2013
21250035@unknown@formal@none@1@S@The number of computers has mushroomed in recent years, with 10,000 in use, as well as 30,000 miniature models.@@@@1@19@@oe@2-2-2013
21250036@unknown@formal@none@1@S@But security systems, effective management controls and regulations to govern their use have not kept pace, the People's Daily said.@@@@1@20@@oe@2-2-2013
21250037@unknown@formal@none@1@S@Besides money, criminals have also used computers to steal secrets and intelligence, the newspaper said, but it gave no more details.@@@@1@21@@oe@2-2-2013
21250038@unknown@formal@none@1@S@Japanese tourists will be told to take care when photographing earthquake damage in San Francisco, the Japan Association of Travel Agents said.@@@@1@22@@oe@2-2-2013
21250039@unknown@formal@none@1@S@The association issued an advisory to its 1,685 member agencies following a report from the Foreign Ministry that picture-taking by Japanese tourists in earthquake-stricken areas was causing ill feeling among local residents. . . .@@@@1@35@@oe@2-2-2013
21250040@unknown@formal@none@1@S@Tass said Lenin's tomb in Red Square will be closed from Nov. 10 to Jan. 15 for essential maintenance.@@@@1@19@@oe@2-2-2013
21250041@unknown@formal@none@1@S@The red granite mausoleum draws thousands of visitors daily.@@@@1@9@@oe@2-2-2013
21251001@unknown@formal@none@1@S@Fatalities on rural interstates rose 33% between 1986 and last year, the National Highway Traffic Safety Administration said in a report on the impact of the 65 miles-per-hour speed limit on those roads.@@@@1@33@@oe@2-2-2013
21251002@unknown@formal@none@1@S@The report to Congress said that fatalities rose 18% in 1987 and 13% in 1988 on rural interstates.@@@@1@18@@oe@2-2-2013
21251003@unknown@formal@none@1@S@The 1987 highway bill permitted states to raise the speed limit to 65 mph from 55 mph on interstate roads, which are defined as highways that pass through areas with fewer than 50,000 people.@@@@1@34@@oe@2-2-2013
21251004@unknown@formal@none@1@S@Since 1987, 40 states have increased the speed limit on rural interstates.@@@@1@12@@oe@2-2-2013
21251005@unknown@formal@none@1@S@"About one-third of the fatality increase is attributed to greater travel, and about two-thirds is attributed to other factors {primarily to greater speed}," according to NHTSA.@@@@1@26@@oe@2-2-2013
21251006@unknown@formal@none@1@S@The report showed that deaths on urban interstate highways rose 7% between 1986 and last year, while fatalities on non-interstate roads were about the same in 1988 as in 1986.@@@@1@30@@oe@2-2-2013
21251007@unknown@formal@none@1@S@In states that raised the speed limit on rural interstates, the fatality rate rose about 18% to 1.7 deaths per 100 million miles traveled between 1986 and 1988.@@@@1@28@@oe@2-2-2013
21251008@unknown@formal@none@1@S@In contrast, the fatality rate in the states that retained the 55 mph limit was 0.9 last year, the same as in 1986.@@@@1@23@@oe@2-2-2013
21252001@unknown@formal@none@1@S@Well-Seasoned Reasoning@@@@1@2@@oe@2-2-2013
21252002@unknown@formal@none@1@S@("Food manufacturer changes spelling of `catsup' to `ketchup,' saying that's the spelling people now prefer."@@@@1@15@@oe@2-2-2013
21252003@unknown@formal@none@1@S@-- WSJ Business Bulletin)@@@@1@4@@oe@2-2-2013
21252004@unknown@formal@none@1@S@Public preference is important, So product names should match up, And firms that find they're lagging behind Should now take steps to ketchup!@@@@1@23@@oe@2-2-2013
21252005@unknown@formal@none@1@S@-- George O. Ludcke.@@@@1@4@@oe@2-2-2013
21252006@unknown@formal@none@1@S@Judge Not@@@@1@2@@oe@2-2-2013
21252007@unknown@formal@none@1@S@How easy it is To attack others' views Without ever setting A foot in their shoes!@@@@1@16@@oe@2-2-2013
21252008@unknown@formal@none@1@S@-- G. Sterling Leiby.@@@@1@4@@oe@2-2-2013
21252009@unknown@formal@none@1@S@Daffynition@@@@1@1@@oe@2-2-2013
21252010@unknown@formal@none@1@S@Money-making course: wad-working.@@@@1@3@@oe@2-2-2013
21252011@unknown@formal@none@1@S@-- Thomas Henry.@@@@1@3@@oe@2-2-2013
21253001@unknown@formal@none@1@S@In an Oct. 10 editorial-page article, "It's the World Bank's Turn to Adjust," Paul Craig Roberts lays most of the blame for what ails developing countries at the doorstep of the World Bank.@@@@1@33@@oe@2-2-2013
21253002@unknown@formal@none@1@S@The article is, unfortunately, replete with outrageous distortions.@@@@1@8@@oe@2-2-2013
21253003@unknown@formal@none@1@S@One of Mr. Roberts's observations is that the Bank's own loan portfolio is in deep trouble because of its lending to developing countries.@@@@1@23@@oe@2-2-2013
21253004@unknown@formal@none@1@S@This is just not so.@@@@1@5@@oe@2-2-2013
21253005@unknown@formal@none@1@S@The reality is that Bank finances are rock solid.@@@@1@9@@oe@2-2-2013
21253006@unknown@formal@none@1@S@As of June 30, 1989 -- the day our past fiscal year came to a close -- only 4.1% of the Bank's portfolio was affected by arrears of over six months.@@@@1@31@@oe@2-2-2013
21253007@unknown@formal@none@1@S@This is an enviably low level.@@@@1@6@@oe@2-2-2013
21253008@unknown@formal@none@1@S@Moreover, the Bank follows a prudent provisioning policy and has set aside $800 million against possible loan losses.@@@@1@18@@oe@2-2-2013
21253009@unknown@formal@none@1@S@For the same fiscal year, by the way, the Bank's net income was a robust $1.1 billion after provisions.@@@@1@19@@oe@2-2-2013
21253010@unknown@formal@none@1@S@Because of the business-like manner in which the Bank goes about development, financial markets have confidence in it.@@@@1@18@@oe@2-2-2013
21253011@unknown@formal@none@1@S@This helps explain the triple-A rating enjoyed by our bonds and our ability to borrow $9.3 billion in fiscal 1989 on the most advantageous terms.@@@@1@25@@oe@2-2-2013
21253012@unknown@formal@none@1@S@Another of Mr. Roberts's criticisms is that Bank lending has done more harm than good "by implanting the wrong incentives and deflecting energy away from economic development."@@@@1@27@@oe@2-2-2013
21253013@unknown@formal@none@1@S@Here, too, Mr. Roberts is way off the mark.@@@@1@9@@oe@2-2-2013
21253014@unknown@formal@none@1@S@The reality is that Bank loans have been linked to policy improvements for 40 years.@@@@1@15@@oe@2-2-2013
21253015@unknown@formal@none@1@S@Our traditional project loans have, for instance, supported sensible energy pricing in the power sector, sound interest-rate policies in the credit area and the operation of public utilities as efficient, autonomous agencies.@@@@1@32@@oe@2-2-2013
21253016@unknown@formal@none@1@S@By and large, these efforts have borne fruit.@@@@1@8@@oe@2-2-2013
21253017@unknown@formal@none@1@S@In my home region, Latin America, much of the existing infrastructure base -- an important building block for development -- has been financed by the World Bank.@@@@1@27@@oe@2-2-2013
21253018@unknown@formal@none@1@S@Mr. Roberts also takes a swipe at the Bank's adjustment lending.@@@@1@11@@oe@2-2-2013
21253019@unknown@formal@none@1@S@What are the facts on this type of lending?@@@@1@9@@oe@2-2-2013
21253020@unknown@formal@none@1@S@The Bank has been making adjustment loans for 10 years.@@@@1@10@@oe@2-2-2013
21253021@unknown@formal@none@1@S@As their name implies, these operations are linked to far-reaching policy reforms that aim at helping borrowing countries get back on the growth path and at enhancing their credit-worthiness.@@@@1@29@@oe@2-2-2013
21253022@unknown@formal@none@1@S@Typically, these measures include reforms to downsize the role of government and parastatals in the economy, to open up inward-looking economies to international competition and to promote the development of a vigorous private sector.@@@@1@34@@oe@2-2-2013
21253023@unknown@formal@none@1@S@Support for the private sector has been a longstanding concern of the Bank's.@@@@1@13@@oe@2-2-2013
21253024@unknown@formal@none@1@S@Over the years, it has helped encourage investments by entrepreneurs in the Third World through its extensive credit operations and through loans and investments by the International Finance Corp.@@@@1@29@@oe@2-2-2013
21253025@unknown@formal@none@1@S@Most recently, the Bank Group has been expanded to include the Multilateral Investment Guarantee Agency to stimulate direct foreign investment in developing countries by offering guarantees against noncommercial risk and advice to member countries on how to improve their business climate.@@@@1@41@@oe@2-2-2013
21253026@unknown@formal@none@1@S@These are not the actions of a development agency wed to central planning and to the concentration of investment decisions in the hands of government, as Mr. Roberts alleges.@@@@1@29@@oe@2-2-2013
21253027@unknown@formal@none@1@S@Rather, they reflect the Bank's time-tested, pragmatic approach, which aims at ensuring that developing countries put their scarce resources to the best possible use.@@@@1@24@@oe@2-2-2013
21253028@unknown@formal@none@1@S@Francisco Aguirre-Sacasa Director, External Affairs The World Bank@@@@1@8@@oe@2-2-2013
21254001@unknown@formal@none@1@S@The government said it would streamline its enormous and often-criticized food marketing and distribution network, Compania Nacional de Subsistencias Populares, or Conasupo.@@@@1@22@@oe@2-2-2013
21254002@unknown@formal@none@1@S@Conasupo Director Ignacio Ovalle Fernandez said the agency will sell 589 midsized supermarkets and several food-production plants and warehouses beginning early next year.@@@@1@23@@oe@2-2-2013
21254003@unknown@formal@none@1@S@The agency will withdraw from the production of nine food products, maintaining production of the two most important ones, corn and milk.@@@@1@22@@oe@2-2-2013
21254004@unknown@formal@none@1@S@Mr. Ovalle also said Conasupo will cut back subsidies to producers of nonessential farm products and close retail outlets in wealthy neighborhoods.@@@@1@22@@oe@2-2-2013
21254005@unknown@formal@none@1@S@The agency's workers and private companies would be allowed to bid for the assets up for sale.@@@@1@17@@oe@2-2-2013
21254006@unknown@formal@none@1@S@Conasupo controls prices on agricultural goods and operates retail outlets where basic consumer items are sold at state-subsidized prices.@@@@1@19@@oe@2-2-2013
21254007@unknown@formal@none@1@S@Business leaders have long criticized the agency as a leading example of bureacratic waste.@@@@1@14@@oe@2-2-2013
21254008@unknown@formal@none@1@S@Private-sector leaders praised the Conasupo restructuring.@@@@1@6@@oe@2-2-2013
21254009@unknown@formal@none@1@S@But most economists doubt the streamlining would cut deeply into Conasupo government subsidy, which largely goes to reduce consumer prices for corn and milk.@@@@1@24@@oe@2-2-2013
21255001@unknown@formal@none@1@S@The Food and Drug Administration banned all imports of mushrooms from China in response to a rash of food-poisoning outbreaks linked to canned Chinese mushrooms.@@@@1@25@@oe@2-2-2013
21255002@unknown@formal@none@1@S@"The agency has concluded that contamination may be widespread throughout the mushroom-processing industry in China," an FDA spokesman said yesterday.@@@@1@20@@oe@2-2-2013
21255003@unknown@formal@none@1@S@The agency won't allow mushrooms that were canned or packed in brine at any Chinese plant to enter the U.S. until "satisfactory sanitation-control measures are implemented in China to prevent" bacterial contamination.@@@@1@32@@oe@2-2-2013
21255004@unknown@formal@none@1@S@On May 19, the FDA began detaining Chinese mushrooms in 68-ounce cans after more than 100 people in Mississippi, New York and Pennsylvania became ill from eating tainted mushrooms.@@@@1@29@@oe@2-2-2013
21255005@unknown@formal@none@1@S@In subsequent tests, the agency found smaller-size cans from several Chinese plants to be similarly contaminated.@@@@1@16@@oe@2-2-2013
21255006@unknown@formal@none@1@S@The outbreaks were traced to staphylococcus aureus, a type of bacteria that produces a toxin capable of surviving the high temperatures used in canning vegetables.@@@@1@25@@oe@2-2-2013
21255007@unknown@formal@none@1@S@A recall of the mushrooms blamed for the food poisoning began in early March.@@@@1@14@@oe@2-2-2013
21255008@unknown@formal@none@1@S@In 1987, China exported 65 million pounds of mushrooms, valued at $47 million, to the U.S.@@@@1@16@@oe@2-2-2013
21255009@unknown@formal@none@1@S@The shipments went mostly to food-service distributors that supply pizzerias and restaurants.@@@@1@12@@oe@2-2-2013
21255010@unknown@formal@none@1@S@A spokesman for the Chinese Embassy here said that the Beijing government has taken "many effective measures" to stop the mushroom contamination and is further investigating the underlying causes.@@@@1@29@@oe@2-2-2013
21255011@unknown@formal@none@1@S@He predicted the problem will be solved "very soon."@@@@1@9@@oe@2-2-2013
21256001@unknown@formal@none@1@S@Your Sept. 26 "Politics & Policy" article about William Bennett's Emergency Drug Plan for Washington gives the impression that the FBI has not been nor is actively involved.@@@@1@28@@oe@2-2-2013
21256002@unknown@formal@none@1@S@This is not the case.@@@@1@5@@oe@2-2-2013
21256003@unknown@formal@none@1@S@The FBI is very supportive of and an active participant in Mr. Bennett's initiative.@@@@1@14@@oe@2-2-2013
21256004@unknown@formal@none@1@S@It was agreed at the outset of the Washington Drug Initiative that the FBI's role would be to continue targeting the major drug traffickers through our National Drug Strategy.@@@@1@29@@oe@2-2-2013
21256005@unknown@formal@none@1@S@Through these investigations we do not focus on the street drug user, but rather we target and attack major drug-trafficking organizations that control a large segment of the drug market.@@@@1@30@@oe@2-2-2013
21256006@unknown@formal@none@1@S@The trial of Raful Edmond III in Washington serves to highlight our efforts in this area and the results achieved through our excellent working relationship with the Drug Enforcement Administration and the Metropolitan Police Department (MPD).@@@@1@36@@oe@2-2-2013
21256007@unknown@formal@none@1@S@The FBI's role is to complement the D.C. initiative through not only these major trafficking investigations, but also by providing a full range of services through various task forces and our contacts with local police squads handling drug-related crimes.@@@@1@39@@oe@2-2-2013
21256008@unknown@formal@none@1@S@In fact, we have agents assigned full time to assist the MPD in drug-related crimes such as homicide and other crimes of violence.@@@@1@23@@oe@2-2-2013
21256009@unknown@formal@none@1@S@Milt Ahlerich Assistant Director Office of Public Affairs Federal Bureau of Investigation@@@@1@12@@oe@2-2-2013
21257001@unknown@formal@none@1@S@Ramada Inc. revised the terms of its restructuring and extended to Feb. 28, 1990, the deadline to complete the sale of its hotel business to New World Development Co. of Hong Kong and Prime Motor Inns Inc. of Fairfield, N.J.@@@@1@40@@oe@2-2-2013
21257002@unknown@formal@none@1@S@Ramada's previous plan was derailed by upheaval in the junk-bond market that hindered the offering of $400 million in high-yield securities of Aztar Corp., the new company that will operate Ramada's casinos in Nevada and Atlantic City,@@@@1@37@@oe@2-2-2013
21257003@unknown@formal@none@1@S@Under the new terms, New World will still pay $540 million for Ramada's hotel business, subject to adjustment at closing, but Ramada will now reimburse New World for $10 million in expenses.@@@@1@32@@oe@2-2-2013
21257004@unknown@formal@none@1@S@Prime will still manage Ramada's domestic franchise system when the sale closes.@@@@1@12@@oe@2-2-2013
21257005@unknown@formal@none@1@S@Revised terms call for each Ramada common share to be exchanged for $1 in cash, subject to possible reduction, and one share of Aztar common stock.@@@@1@26@@oe@2-2-2013
21257006@unknown@formal@none@1@S@Shareholders will also receive one cent per share for the redemption of preferred stock purchase rights.@@@@1@16@@oe@2-2-2013
21257007@unknown@formal@none@1@S@The cash payout will be reduced by 40% of any amount by which the weighted mean price of Ramada's common stock exceeds $14 on the day the transaction closes.@@@@1@29@@oe@2-2-2013
21257008@unknown@formal@none@1@S@The provision will help provide for tax liabilities that may stem from the restructuring.@@@@1@14@@oe@2-2-2013
21257009@unknown@formal@none@1@S@Ramada's stock rose 87.5 cents on the news to close at $11.25 in composite New York Stock Exchange trading.@@@@1@19@@oe@2-2-2013
21257010@unknown@formal@none@1@S@The announcement dispelled some Wall Street observers' fears that New World might demand a huge premium for the delay, or scrap the deal entirely.@@@@1@24@@oe@2-2-2013
21257011@unknown@formal@none@1@S@The previous deadline to complete the sale was Nov. 30.@@@@1@10@@oe@2-2-2013
21257012@unknown@formal@none@1@S@One major advantage of the revised plan is that Aztar will have far less debt than under the old terms.@@@@1@20@@oe@2-2-2013
21257013@unknown@formal@none@1@S@"They'll go from being one of the most leveraged to one of the least leveraged casino companies," said Daniel Lee, an analyst with Drexel Burnham Lambert Inc.@@@@1@27@@oe@2-2-2013
21257014@unknown@formal@none@1@S@Mr. Lee values the package at between $15 and $20 a share, based on current trading prices of other casino-company stocks.@@@@1@21@@oe@2-2-2013
21257015@unknown@formal@none@1@S@The much-revised restructuring, which was first announced in October 1988, must again be approved by shareholders and state casino regulators in Nevada and New Jersey.@@@@1@25@@oe@2-2-2013
21257016@unknown@formal@none@1@S@Financing plans include raising $170 million in debt secured by the company's holdings in New Jersey.@@@@1@16@@oe@2-2-2013
21257017@unknown@formal@none@1@S@In May, Ramada sold its Marie Callender Pie Shops Inc. unit to a group of private investors as part of its plan to focus on its casinos in Atlantic City and in Las Vegas and Laughlin, Nev.@@@@1@37@@oe@2-2-2013
21258001@unknown@formal@none@1@S@Bond prices took the high road and stock prices took the low road as worries mounted about the economy and the junk bond market.@@@@1@24@@oe@2-2-2013
21258002@unknown@formal@none@1@S@The Dow Jones Industrial Average fell 26.23 points to 2662.91 in sluggish trading.@@@@1@13@@oe@2-2-2013
21258003@unknown@formal@none@1@S@But long-term Treasury bonds staged a modest rally, with prices on most issues rising about half a point, or $5 for each $1,000 face amount.@@@@1@25@@oe@2-2-2013
21258004@unknown@formal@none@1@S@The dollar sagged against other major currencies in lethargic trading.@@@@1@10@@oe@2-2-2013
21258005@unknown@formal@none@1@S@Traders and analysts said the divergence between the stock and bond markets is a sign of growing unease about the economic outlook.@@@@1@22@@oe@2-2-2013
21258006@unknown@formal@none@1@S@A sinking economy depresses corporate earnings and thus stock prices, but it buoys bond prices as interest rates fall.@@@@1@19@@oe@2-2-2013
21258007@unknown@formal@none@1@S@That unease is expected to grow today when the government reports on September durable goods orders and again Thursday when the first assessment of third-quarter economic growth is released.@@@@1@29@@oe@2-2-2013
21258008@unknown@formal@none@1@S@Analysts say they think durable goods orders fell about 1%, compared with a 3.9% gain in August, and that growth in the third quarter slowed to about 2.3% from the second quarter's 2.5%.@@@@1@33@@oe@2-2-2013
21258009@unknown@formal@none@1@S@The stock market's decline, coming after a record weekly gain of 119.88 points, surprised some investors.@@@@1@16@@oe@2-2-2013
21258010@unknown@formal@none@1@S@But A.C. Moore, director of research at Argus Research, said last week's rally was a reflex reaction to the Oct. 13 stock market rout.@@@@1@24@@oe@2-2-2013
21258011@unknown@formal@none@1@S@Overall, he said, the trend in stock prices will be down as the economy weakens.@@@@1@15@@oe@2-2-2013
21258012@unknown@formal@none@1@S@"We think we're on target in looking for renewed economic deterioration," he said.@@@@1@13@@oe@2-2-2013
21258013@unknown@formal@none@1@S@"Corporate profits are going to decrease faster than interest rates will fall, and the probability is that we'll see negative economic growth in the fourth quarter."@@@@1@26@@oe@2-2-2013
21258014@unknown@formal@none@1@S@Hugh Johnson, chief investment officer at First Albany Corp., agreed that a deteriorating economy is worrisome, but he said the real concern among stock investors is that some new problem will crop up in the junk bond market.@@@@1@38@@oe@2-2-2013
21258015@unknown@formal@none@1@S@In major market activity: Stock prices slumped in sluggish trading.@@@@1@10@@oe@2-2-2013
21258016@unknown@formal@none@1@S@Volume on the New York Stock Exchange totaled 135.9 million shares.@@@@1@11@@oe@2-2-2013
21258017@unknown@formal@none@1@S@Declining issues on the Big Board were ahead of gainers, 1,012 to 501.@@@@1@13@@oe@2-2-2013
21258018@unknown@formal@none@1@S@Bond prices rallied.@@@@1@3@@oe@2-2-2013
21258019@unknown@formal@none@1@S@The yield on the Treasury's benchmark 30-year bond slipped to 7.93%.@@@@1@11@@oe@2-2-2013
21258020@unknown@formal@none@1@S@The dollar weakened against most other major currencies.@@@@1@8@@oe@2-2-2013
21258021@unknown@formal@none@1@S@In late New York trading, the dollar was quoted at 1.8470 marks and 141.90 yen, compared with 1.8578 marks and 142.43 yen late Friday.@@@@1@24@@oe@2-2-2013
21259001@unknown@formal@none@1@S@The Wall Street Journal "American Way of Buying" Survey consists of two separate, door-to-door nationwide polls conducted for the Journal by Peter D. Hart Research Associates and the Roper Organization.@@@@1@30@@oe@2-2-2013
21259002@unknown@formal@none@1@S@The two surveys, which asked different questions, were conducted using national random probability samples.@@@@1@14@@oe@2-2-2013
21259003@unknown@formal@none@1@S@The poll conducted by Peter D. Hart Research Associates interviewed 2,064 adults age 18 and older from June 15 to June 30, 1989.@@@@1@23@@oe@2-2-2013
21259004@unknown@formal@none@1@S@The poll conducted by the Roper Organization interviewed 2,002 adults age 18 and older from July 7 to July 15, 1989.@@@@1@21@@oe@2-2-2013
21259005@unknown@formal@none@1@S@Responses were weighted on the basis of age and gender to conform with U.S. Census data.@@@@1@16@@oe@2-2-2013
21259006@unknown@formal@none@1@S@For each poll, the odds are 19 out of 20 that if pollsters had sought to survey every household in the U.S. using the same questionnaire, the findings would differ from these poll results by no more than 2 1/2 percentage points in either direction.@@@@1@45@@oe@2-2-2013
21259007@unknown@formal@none@1@S@The margin of error for subgroups -- for example, married women with children at home -- would be larger.@@@@1@19@@oe@2-2-2013
21259008@unknown@formal@none@1@S@In addition, in any survey, there is always the chance that other factors such as question wording could introduce errors into the findings.@@@@1@23@@oe@2-2-2013
21259009@unknown@formal@none@1@S@(See related story: "The American Way of Buying: Is Buying a Car a Choice or a Chore? --@@@@1@18@@oe@2-2-2013
21260001@unknown@formal@none@1@S@Ironically, American Airlines' attempt to lead industry prices higher was reported in the same issue as your survey showing that consumers had the least confidence in the airline industry (Sept. 20).@@@@1@31@@oe@2-2-2013
21260002@unknown@formal@none@1@S@You quote Robert Crandall, chairman of American's parent, AMR Corp., as having said that discount deals for big customers would be "dumb" because "you will go to Detroit because you have to go to Detroit whether the fare is $175, $275 or $375."@@@@1@43@@oe@2-2-2013
21260003@unknown@formal@none@1@S@Even if Mr. Crandall is correct, he of all people must realize our society relies on competition to keep prices at a competitive level.@@@@1@24@@oe@2-2-2013
21260004@unknown@formal@none@1@S@In 1986, he settled an antitrust suit based on a taped telephone conversation of him proposing to Braniff's president that they both raise fares 20%.@@@@1@25@@oe@2-2-2013
21260005@unknown@formal@none@1@S@(Braniff declined).@@@@1@2@@oe@2-2-2013
21260006@unknown@formal@none@1@S@When I asked American Airlines for its side of the story for use in my MBA class, where I teach business ethics, it did not respond.@@@@1@26@@oe@2-2-2013
21260007@unknown@formal@none@1@S@Perhaps the ethics of an industry's leader filters down and is one of the factors that ultimately shapes consumer trust in that industry.@@@@1@23@@oe@2-2-2013
21260008@unknown@formal@none@1@S@Arnold Celnicker Assistant Professor Ohio State University@@@@1@7@@oe@2-2-2013
21261001@unknown@formal@none@1@S@Meredith Corp. is launching a new service to offer advertisers package deals combining its book, magazine and videocassette products.@@@@1@19@@oe@2-2-2013
21261002@unknown@formal@none@1@S@The Des Moines-based publisher said it created a new Custom Marketing Group that will offer advertisers special rates for combination packages in its magazines, such as Ladies Home Journal and Better Homes and Gardens.@@@@1@34@@oe@2-2-2013
21261003@unknown@formal@none@1@S@In addition, the group will create custom-designed media such as cookbooks, newspaper inserts and videos for ad campaigns.@@@@1@18@@oe@2-2-2013
21261004@unknown@formal@none@1@S@Earlier this year, Meredith sold its first such package for $3 million to Kraft Inc., now a unit of New York-based Philip Morris Cos.@@@@1@24@@oe@2-2-2013
21261005@unknown@formal@none@1@S@The Kraft package included a specially published cookbook, a national free-standing insert in Sunday newspapers, and a Kraft "advertorial" section that ran in five Meredith magazines.@@@@1@26@@oe@2-2-2013
21261006@unknown@formal@none@1@S@Kraft recently agreed to spend an additional $3 million on similar programs through 1990.@@@@1@14@@oe@2-2-2013
21261007@unknown@formal@none@1@S@Bill Murphy, director of the new marketing unit, said Meredith is negotiating other large-scale packages with leading companies in several product categories, but he wouldn't disclose their names.@@@@1@28@@oe@2-2-2013
21261008@unknown@formal@none@1@S@Sources close to the company and ad agencies that work with Meredith said leading advertisers in consumer electronics, packaged goods and automotive products were among those negotiating ad packages with the Meredith group.@@@@1@33@@oe@2-2-2013
21261009@unknown@formal@none@1@S@Other magazine publishing companies have been moving in the same direction.@@@@1@11@@oe@2-2-2013
21261010@unknown@formal@none@1@S@The New York Times Co.'s Magazine Group earlier this year began offering advertisers extensive merchandising services built around buying ad pages in its Golf Digest magazine.@@@@1@26@@oe@2-2-2013
21261011@unknown@formal@none@1@S@Time Warner Inc. recently formed a "synergy department" to seek out ways to offer advertisers packages that could combine Time's magazines with Warner products such as videocassettes.@@@@1@27@@oe@2-2-2013
21261012@unknown@formal@none@1@S@Paul DuCharme, director of media services at Grey Advertising, said Meredith is the leader in providing multimedia packages.@@@@1@18@@oe@2-2-2013
21261013@unknown@formal@none@1@S@"They may get passed up later when other publishers get their acts together, but for now they are the quickest offering the most extensive plan," he said.@@@@1@27@@oe@2-2-2013
21261014@unknown@formal@none@1@S@Mr. Murphy of Meredith said one advertiser, which he wouldn't identify, wants Meredith to provide ad pages in seven Meredith magazines, publish an interior-decorating book that will be distributed at point of purchase, give away a videotape on installation pointers, and possibly use Meredith's Better Homes and Gardens' residential real-estate agents to distribute discount-coupon books to new homeowners.@@@@1@58@@oe@2-2-2013
21261015@unknown@formal@none@1@S@"Five years ago, magazine publishers would simply bid on an advertiser's big ad schedule for their magazine," said Mr. Murphy.@@@@1@20@@oe@2-2-2013
21261016@unknown@formal@none@1@S@"But the marketplace changed.@@@@1@4@@oe@2-2-2013
21261017@unknown@formal@none@1@S@Advertisers now say `Help us improve our image and extend our selling season.'@@@@1@13@@oe@2-2-2013
21261018@unknown@formal@none@1@S@They are coming to publishers looking for ideas.@@@@1@8@@oe@2-2-2013
21262001@unknown@formal@none@1@S@Your Sept. 21 article "It's So Easy to Get Burned When Buying a Small Firm" was excellent.@@@@1@17@@oe@2-2-2013
21262002@unknown@formal@none@1@S@I've been advising small businesses many years and have lived with the fact that 50% will go out of business within two years, and 80% in five years.@@@@1@28@@oe@2-2-2013
21262003@unknown@formal@none@1@S@The economic loss, jobs lost, anguish, frustration and humiliation are beyond measure.@@@@1@12@@oe@2-2-2013
21262004@unknown@formal@none@1@S@And most of these are absolutely unnecessary.@@@@1@7@@oe@2-2-2013
21262005@unknown@formal@none@1@S@Your article points out the traps people fall into, but when reviewing those traps one sees just about all of them could have been avoided.@@@@1@25@@oe@2-2-2013
21262006@unknown@formal@none@1@S@An accountant did not review the seller's books before buying a business.@@@@1@12@@oe@2-2-2013
21262007@unknown@formal@none@1@S@"I guess I was naive," he said.@@@@1@7@@oe@2-2-2013
21262008@unknown@formal@none@1@S@There is a more descriptive word to describe his lapse of common sense.@@@@1@13@@oe@2-2-2013
21262009@unknown@formal@none@1@S@Corporate managers who want to start their own business are the highest failure risks.@@@@1@14@@oe@2-2-2013
21262010@unknown@formal@none@1@S@They know all the answers and are not used to working more than 40 hours a week.@@@@1@17@@oe@2-2-2013
21262011@unknown@formal@none@1@S@The blue-collar worker who decides to start a business will listen and take advice.@@@@1@14@@oe@2-2-2013
21262012@unknown@formal@none@1@S@His humility gives him a much better chance of success.@@@@1@10@@oe@2-2-2013
21262013@unknown@formal@none@1@S@A few months ago your paper reported the results of a study to determine why Asians who arrive in this country without any money, and unable to speak English, become overnight successes.@@@@1@32@@oe@2-2-2013
21262014@unknown@formal@none@1@S@Their "secret" is that they gather a small group of advisers around them, listen to what they have to say, prepare a business plan and they are on their way.@@@@1@30@@oe@2-2-2013
21262015@unknown@formal@none@1@S@Successful American business owners do the same thing.@@@@1@8@@oe@2-2-2013
21262016@unknown@formal@none@1@S@Unfortunately, they are in the minority.@@@@1@6@@oe@2-2-2013
21262017@unknown@formal@none@1@S@Avoiding failure is easy.@@@@1@4@@oe@2-2-2013
21262018@unknown@formal@none@1@S@It's unfortunate so many must learn the hard way.@@@@1@9@@oe@2-2-2013
21262019@unknown@formal@none@1@S@Daniel B. Scully Tucson, Ariz.@@@@1@5@@oe@2-2-2013
21263001@unknown@formal@none@1@S@The management turnover at Reebok International Ltd. continued with the resignation of company president C. Joseph LaBonte, who joined Reebok just two years ago.@@@@1@24@@oe@2-2-2013
21263002@unknown@formal@none@1@S@Mr. LaBonte's departure follows by two months the resignation of Mark Goldston as senior vice president and chief marketing officer after only 11 months at Reebok.@@@@1@26@@oe@2-2-2013
21263003@unknown@formal@none@1@S@The resignations by the two executives, considered hard-charging and abrasive by Reebok insiders, reflect a difference in style with Paul Fireman, chairman and chief executive, according to several former executives.@@@@1@30@@oe@2-2-2013
21263004@unknown@formal@none@1@S@The two executives are among a number of outsiders recruited by Reebok in the past few years to help it make the transition from a small start-up company to a marketing giant with sales last year of $1.79 billion.@@@@1@39@@oe@2-2-2013
21263005@unknown@formal@none@1@S@The changes come as Reebok, which grew rapidly in the mid-1980s but has seen its sales flatten of late, is seeking to regain momentum in the athletic-shoe business against rivals Nike Inc. and L.A. Gear Inc.@@@@1@36@@oe@2-2-2013
21263006@unknown@formal@none@1@S@The departures, said Alice Ruth, an analyst at Montgomery Securities in San Francisco, should enable the company to focus on business issues instead of management differences.@@@@1@26@@oe@2-2-2013
21263007@unknown@formal@none@1@S@"I think it's more an issue of style.@@@@1@8@@oe@2-2-2013
21263008@unknown@formal@none@1@S@I would view it as a net positive.@@@@1@8@@oe@2-2-2013
21263009@unknown@formal@none@1@S@The company can go about its business.@@@@1@7@@oe@2-2-2013
21263010@unknown@formal@none@1@S@They're in the midst of a turnaround," she noted.@@@@1@9@@oe@2-2-2013
21263011@unknown@formal@none@1@S@Earnings have rebounded in 1989 after a 20% decline last year.@@@@1@11@@oe@2-2-2013
21263012@unknown@formal@none@1@S@A former executive agreed that the departures don't reflect major problems, adding: "If you see any company that grows as fast as Reebok did, it is going to have people coming and going."@@@@1@33@@oe@2-2-2013
21263013@unknown@formal@none@1@S@Reebok said Mr. LaBonte will resume the presidency of Vantage Group Inc., a California-based venture capital firm that he founded in 1983.@@@@1@22@@oe@2-2-2013
21263014@unknown@formal@none@1@S@Before that he was president and chief operating officer of Twentieth Century-Fox Film Corp.@@@@1@14@@oe@2-2-2013
21263015@unknown@formal@none@1@S@Reebok added that Mr. Fireman will assume the title of president.@@@@1@11@@oe@2-2-2013
21263016@unknown@formal@none@1@S@A spokesman said that neither Mr. Fireman nor Mr. LaBonte would be available for comment.@@@@1@15@@oe@2-2-2013
21263017@unknown@formal@none@1@S@"We will not be commenting beyond the news release," the spokesman said.@@@@1@12@@oe@2-2-2013
21263018@unknown@formal@none@1@S@Mr. Goldston, who had been president of Faberge Inc.'s Faberge U.S.A. division before joining Reebok in September 1988, left in August to pursue other interests.@@@@1@25@@oe@2-2-2013
21264001@unknown@formal@none@1@S@Magazine publishers are facing spiraling costs and a glut of new titles.@@@@1@12@@oe@2-2-2013
21264002@unknown@formal@none@1@S@But even a raft of recent failures isn't stopping them from launching new publications.@@@@1@14@@oe@2-2-2013
21264003@unknown@formal@none@1@S@At the American Magazine Conference here, publishers are plenty worried about the industry's woes.@@@@1@14@@oe@2-2-2013
21264004@unknown@formal@none@1@S@But they are also talking about new magazines.@@@@1@8@@oe@2-2-2013
21264005@unknown@formal@none@1@S@For example, Toronto-based Telemedia Inc. will publish Eating Well, a new food and health magazine due out next summer.@@@@1@19@@oe@2-2-2013
21264006@unknown@formal@none@1@S@New York-based Hearst Corp. this fall plans to publish its first issue of 9 Months, a magazine for expectant mothers, and has already launched American Home.@@@@1@26@@oe@2-2-2013
21264007@unknown@formal@none@1@S@And Time Warner Inc. is developing a spinoff of Time magazine aimed at kids, on the heels of its successful Sports Illustrated for Kids.@@@@1@24@@oe@2-2-2013
21264008@unknown@formal@none@1@S@Over the past four years, the number of consumer magazines has increased by an average of 80 magazines annually, according to Donald Kummerfeld, president of the Magazine Publishers of America.@@@@1@30@@oe@2-2-2013
21264009@unknown@formal@none@1@S@"This is an impressive show of faith in the future of the magazine industry," said Mr. Kummerfeld.@@@@1@17@@oe@2-2-2013
21264010@unknown@formal@none@1@S@"Entrepreneurs don't rush to get into a stagnant or declining industry."@@@@1@11@@oe@2-2-2013
21264011@unknown@formal@none@1@S@And despite the recent tough advertising climate, industry figures released at the meeting here indicate things may be turning around.@@@@1@20@@oe@2-2-2013
21264012@unknown@formal@none@1@S@For the first nine months, advertising pages in consumer magazines tracked by the Publishers Information Bureau increased 4% from the same period last year, to 125,849 pages.@@@@1@27@@oe@2-2-2013
21264013@unknown@formal@none@1@S@Total magazine ad revenue for the same period increased 12% to $4.6 billion.@@@@1@13@@oe@2-2-2013
21264014@unknown@formal@none@1@S@Though for some magazines categories a tough advertising climate persists, the industry in general is doing well compared with the newspaper industry.@@@@1@22@@oe@2-2-2013
21264015@unknown@formal@none@1@S@Though some magazines are thriving, the magazine publishing industry remains a risky business.@@@@1@13@@oe@2-2-2013
21264016@unknown@formal@none@1@S@Within the same nine months, News Corp. closed down In Fashion, a once-promising young woman's fashion magazine, Drake Publications Inc. has folded the long-troubled Venture magazine, and Lang Communications has announced Ms. magazine, after 17 years, will no longer carry advertising as of January.@@@@1@44@@oe@2-2-2013
21264017@unknown@formal@none@1@S@Lang is cutting costs and will attempt to operate the magazine with only subscription revenue.@@@@1@15@@oe@2-2-2013
21264018@unknown@formal@none@1@S@Meanwhile, American Health Partners, publisher of American Health magazine, is deep in debt, and Owen Lipstein, founder and managing partner, is being forced to sell the magazine to Reader's Digest Association Inc.@@@@1@32@@oe@2-2-2013
21264019@unknown@formal@none@1@S@Mr. Lipstein's absence from the meeting here raised speculation that the sale is in trouble.@@@@1@15@@oe@2-2-2013
21264020@unknown@formal@none@1@S@Mr. Lipstein said in a telephone interview from New York that the sale was proceeding as planned.@@@@1@17@@oe@2-2-2013
21264021@unknown@formal@none@1@S@"The magazine is strong.@@@@1@4@@oe@2-2-2013
21264022@unknown@formal@none@1@S@It's simply the right time to do what we are doing," Mr. Lipstein said.@@@@1@14@@oe@2-2-2013
21264023@unknown@formal@none@1@S@"Magazines can no longer be considered institutions," said James Autry, president of Meredith Corp.'s magazine group.@@@@1@16@@oe@2-2-2013
21264024@unknown@formal@none@1@S@"Publishers will find that some magazines have served their purpose and should die," he added.@@@@1@15@@oe@2-2-2013
21264025@unknown@formal@none@1@S@"Magazines could, like other brands, find that they have only a limited life."@@@@1@13@@oe@2-2-2013
21264026@unknown@formal@none@1@S@There are also indications that the number of magazine entrepreneurs, traditionally depended upon to break new ground with potentially risky start-ups, are dwindling.@@@@1@23@@oe@2-2-2013
21264027@unknown@formal@none@1@S@More than ever, independent magazines and small publishing groups are being gobbled up by larger publishing groups, such as American Express Publishing Corp., a unit of American Express Co., and Conde Nast Publications Inc., a unit of Advance Publications Inc., which are consolidating in order to gain leverage with advertisers.@@@@1@50@@oe@2-2-2013
21264028@unknown@formal@none@1@S@Some entrepreneurs are still active, though.@@@@1@6@@oe@2-2-2013
21264029@unknown@formal@none@1@S@Gerry Ritterman, president of New York-based Network Publishing Corp., earlier this year sold his Soap Opera Digest magazine to Rupert Murdoch's News Corp.@@@@1@23@@oe@2-2-2013
21264030@unknown@formal@none@1@S@Mr. Ritterman said that in the next six months he will take $50 million from the Soap Opera Digest sale to acquire new magazines.@@@@1@24@@oe@2-2-2013
21264031@unknown@formal@none@1@S@He would not reveal which magazines he is considering.@@@@1@9@@oe@2-2-2013
21264032@unknown@formal@none@1@S@"The magazines I am looking for are underdeveloped," said Mr. Ritterman.@@@@1@11@@oe@2-2-2013
21264033@unknown@formal@none@1@S@"They could be old or new, but they are magazines whose editorial quality needs to be improved.@@@@1@17@@oe@2-2-2013
21264034@unknown@formal@none@1@S@They will be the next hot magazines.@@@@1@7@@oe@2-2-2013
21265001@unknown@formal@none@1@S@MCA Inc. said its toy-making unit agreed to buy Buddy L Corp., producer of a line of toy vehicles and preschool products.@@@@1@22@@oe@2-2-2013
21265002@unknown@formal@none@1@S@The price wasn't disclosed, but an executive of LJN Toys Ltd., the MCA unit, said the closely held Buddy L had annual sales in excess of $20 million.@@@@1@28@@oe@2-2-2013
21265003@unknown@formal@none@1@S@The 40-year-old Buddy L concern, based in New York, designs and develops toys under the names "Buddy L" and "My First Buddy," he said.@@@@1@24@@oe@2-2-2013
21265004@unknown@formal@none@1@S@MCA said it expects the proposed transaction to be completed "no later than Nov. 10.@@@@1@15@@oe@2-2-2013
21266001@unknown@formal@none@1@S@(During its centennial year, The Wall Street Journal will report events of the past century that stand as milestones of American business history.)@@@@1@23@@oe@2-2-2013
21266002@unknown@formal@none@1@S@FRANKLIN NATIONAL BANK DIED at 3 p.m. EDT, Oct. 8, 1974, and was promptly resurrected under new owners to shore up confidence in other banks during a recession.@@@@1@28@@oe@2-2-2013
21266003@unknown@formal@none@1@S@Arthur Burns, Federal Reserve Board chairman, said the government's "luck" in keeping the bank open -- despite being the then-biggest U.S. bank failure -- prevented "shock waves around the country and around the world."@@@@1@34@@oe@2-2-2013
21266004@unknown@formal@none@1@S@Federal officials who had been probing the bank for months arranged a merger with European-American Bank & Trust, owned by six foreign banks, to avert the closedown.@@@@1@27@@oe@2-2-2013
21266005@unknown@formal@none@1@S@And federal insurance protected the bank's 631,163 depositors.@@@@1@8@@oe@2-2-2013
21266006@unknown@formal@none@1@S@The crisis had peaked on May 10, 1974, when the bank disclosed "severe" foreign-exchange losses due to "unauthorized" trading.@@@@1@19@@oe@2-2-2013
21266007@unknown@formal@none@1@S@Massive withdrawals followed and there was a brief rescue attempt, with political undertones, including $1.77 billion in Federal Reserve loans.@@@@1@20@@oe@2-2-2013
21266008@unknown@formal@none@1@S@Within six years many figures were convicted for their illegal abuse of Franklin funds.@@@@1@14@@oe@2-2-2013
21266009@unknown@formal@none@1@S@In June 1980, Michele Sindona -- an Italian financier who in July 1972 had bought a 22% block of Franklin's stock from Loews Corp., headed by Laurence A. Tisch -- was sentenced to 25 years in prison after being convicted of fraud and perjury.@@@@1@44@@oe@2-2-2013
21266010@unknown@formal@none@1@S@Included was the charge that Sindona siphoned $45 million of Franklin funds for his other ventures.@@@@1@16@@oe@2-2-2013
21266011@unknown@formal@none@1@S@(Sindona in 1979 faked his "kidnapping" for 2 1/2 months to delay his trial.)@@@@1@14@@oe@2-2-2013
21266012@unknown@formal@none@1@S@During 1976 to 1979, other former Franklin officials either pleaded guilty to or were found guilty of violations including phony transactions to hide the bank's losses.@@@@1@26@@oe@2-2-2013
21266013@unknown@formal@none@1@S@Sindona, the onetime Vatican financial adviser with reported links to the Mafia, died on March 22, 1986, at age 65, reportedly after drinking cyanide-laced coffee in an Italian prison.@@@@1@29@@oe@2-2-2013
21266014@unknown@formal@none@1@S@It happened four days after he was sentenced to life in prison for ordering a 1979 murder.@@@@1@17@@oe@2-2-2013
21266015@unknown@formal@none@1@S@Italian magistrates labeled his death a suicide.@@@@1@7@@oe@2-2-2013
21267001@unknown@formal@none@1@S@In a nondescript office building south of Los Angeles, human behavior is being monitored, dissected and, ultimately, manipulated.@@@@1@18@@oe@2-2-2013
21267002@unknown@formal@none@1@S@A squiggly line snakes across a video screen, gyrating erratically as subjects with hand-held computers register their second-by-second reactions to a speaker's remarks.@@@@1@23@@oe@2-2-2013
21267003@unknown@formal@none@1@S@Agreement, disapproval, boredom and distraction all can be inferred from the subjects' twist of a dial.@@@@1@16@@oe@2-2-2013
21267004@unknown@formal@none@1@S@In another experiment, an elaborate chart with color codes reveals how people's opinions were shaped -- and how they can be reshaped.@@@@1@22@@oe@2-2-2013
21267005@unknown@formal@none@1@S@Donald Vinson, who oversees the experiments, isn't some white-coated researcher.@@@@1@10@@oe@2-2-2013
21267006@unknown@formal@none@1@S@He heads Litigation Sciences Inc., the nation's largest legal consulting firm, which is helping corporate America prepare for high-stakes litigation by predicting and shaping jurors' reactions.@@@@1@26@@oe@2-2-2013
21267007@unknown@formal@none@1@S@In the process, Litigation Sciences is quietly but inexorably reshaping the world of law.@@@@1@14@@oe@2-2-2013
21267008@unknown@formal@none@1@S@Little known outside the legal world but a powerhouse within, Litigation Sciences, a unit of Saatchi & Saatchi PLC, employs more than 100 psychologists, sociologists, marketers, graphic artists and technicians.@@@@1@30@@oe@2-2-2013
21267009@unknown@formal@none@1@S@Twenty-one of its workers are Ph. D.s.@@@@1@7@@oe@2-2-2013
21267010@unknown@formal@none@1@S@Among other services, the firm provides pre-trial opinion polls, creates profiles of "ideal" jurors, sets up mock trials and "shadow" juries, coaches lawyers and witnesses, and designs courtroom graphics.@@@@1@29@@oe@2-2-2013
21267011@unknown@formal@none@1@S@Much like their cohorts in political consulting and product marketing, the litigation advisers encourage their clients to play down complex or ambiguous matters, simplify their messages and provide their target audiences with a psychological craving to make the desired choice.@@@@1@40@@oe@2-2-2013
21267012@unknown@formal@none@1@S@With jury verdicts getting bigger all the time, companies are increasingly willing to pay huge sums for such advice.@@@@1@19@@oe@2-2-2013
21267013@unknown@formal@none@1@S@Recently, Litigation Sciences helped Pennzoil Co. win a $10.5 billion jury verdict against Texaco Inc.@@@@1@15@@oe@2-2-2013
21267014@unknown@formal@none@1@S@It advised the National Football League in its largely successful defense of antitrust charges by the United States Football League.@@@@1@20@@oe@2-2-2013
21267015@unknown@formal@none@1@S@And it helped win defense verdicts in product-liability suits involving scores of products, ranging from Firestone 500 tires to the anti-nausea drug Bendectin.@@@@1@23@@oe@2-2-2013
21267016@unknown@formal@none@1@S@Largely as a result, Litigation Sciences has more than doubled in size in the past two years.@@@@1@17@@oe@2-2-2013
21267017@unknown@formal@none@1@S@Its 1988 revenue was $25 million.@@@@1@6@@oe@2-2-2013
21267018@unknown@formal@none@1@S@Meanwhile, competitors are being spawned almost daily; some 300 new businesses -- many just one-person shops -- have sprung up.@@@@1@20@@oe@2-2-2013
21267019@unknown@formal@none@1@S@Mr. Vinson estimates the industry's total revenues approach $200 million.@@@@1@10@@oe@2-2-2013
21267020@unknown@formal@none@1@S@In any high-stakes case, you can be sure that one side or the other -- or even both -- is using litigation consultants.@@@@1@23@@oe@2-2-2013
21267021@unknown@formal@none@1@S@Despite their ubiquity, the consultants aren't entirely welcome.@@@@1@8@@oe@2-2-2013
21267022@unknown@formal@none@1@S@Some lawyers and scholars see the social scientists' vision of the American jury system as a far cry from the ideal presented in civics texts and memorialized on the movie screen.@@@@1@31@@oe@2-2-2013
21267023@unknown@formal@none@1@S@In the film classic "Twelve Angry Men," the crucible of deliberations unmasks each juror's bias and purges it from playing a role in the verdict.@@@@1@25@@oe@2-2-2013
21267024@unknown@formal@none@1@S@After hours of conflict and debate, that jury focuses on the facts with near-perfect objectivity.@@@@1@15@@oe@2-2-2013
21267025@unknown@formal@none@1@S@In real life, jurors may not always work that way, but some court observers question why they shouldn't be encouraged to do so rather than be programmed not to.@@@@1@29@@oe@2-2-2013
21267026@unknown@formal@none@1@S@Litigation consulting is, as New York trial attorney Donald Zoeller puts it, "highly manipulative."@@@@1@14@@oe@2-2-2013
21267027@unknown@formal@none@1@S@He adds, "The notion they try to sell is that juries don't make decisions rationally.@@@@1@15@@oe@2-2-2013
21267028@unknown@formal@none@1@S@But the effort is also being made to try and cause jurors not to decide things rationally.@@@@1@17@@oe@2-2-2013
21267029@unknown@formal@none@1@S@I find it troubling."@@@@1@4@@oe@2-2-2013
21267030@unknown@formal@none@1@S@But Mr. Zoeller also acknowledges that consultants can be very effective.@@@@1@11@@oe@2-2-2013
21267031@unknown@formal@none@1@S@"It's gotten to the point where if the case is large enough, it's almost malpractice not to use them," he says.@@@@1@21@@oe@2-2-2013
21267032@unknown@formal@none@1@S@Others complain that the consultants' growing influence exacerbates the advantage of litigants wealthy enough to afford such pricey services.@@@@1@19@@oe@2-2-2013
21267033@unknown@formal@none@1@S@"The affluent people and the corporations can buy it, the poor radicals {in political cases} get it free, and everybody in between is at a disadvantage, and that's not the kind of system we want," says Amitai Etzioni, a prominent sociologist who teaches at George Washington University.@@@@1@47@@oe@2-2-2013
21267034@unknown@formal@none@1@S@Sophisticated trial consulting grew, ironically, from the radical political movements of the 1960s and 1970s before finding its more lucrative calling in big commercial cases.@@@@1@25@@oe@2-2-2013
21267035@unknown@formal@none@1@S@The Harrisburg 7 trial in 1972, in which Daniel Berrigan and others were charged with plotting anti-war-related violence, was a landmark.@@@@1@21@@oe@2-2-2013
21267036@unknown@formal@none@1@S@In that case, a group of left-leaning sociologists interviewed 252 registered voters around Harrisburg.@@@@1@14@@oe@2-2-2013
21267037@unknown@formal@none@1@S@The researchers discovered that Episcopalians, Presbyterians, Methodists and fundamantalist Protestants were nearly always against the defendants; the lawyers resolved to try to keep them off the jury.@@@@1@27@@oe@2-2-2013
21267038@unknown@formal@none@1@S@The defense also learned that college-educated people were uncharacteristically conservative about the Vietnam War.@@@@1@14@@oe@2-2-2013
21267039@unknown@formal@none@1@S@A more blue-collar panel became a second aim.@@@@1@8@@oe@2-2-2013
21267040@unknown@formal@none@1@S@Ultimately, that carefully picked jury deadlocked with a 10-2 vote to acquit, and the prosecution decided not to retry the case.@@@@1@21@@oe@2-2-2013
21267041@unknown@formal@none@1@S@Litigation consulting had arrived.@@@@1@4@@oe@2-2-2013
21267042@unknown@formal@none@1@S@The fledgling science went corporate in 1977 when International Business Machines Corp. hired a marketing professor to help defend a complex antitrust case.@@@@1@23@@oe@2-2-2013
21267043@unknown@formal@none@1@S@The problem for IBM trial lawyers Thomas Barr and David Boies was how to make such a highly technical case understandable.@@@@1@21@@oe@2-2-2013
21267044@unknown@formal@none@1@S@As the trial progressed, they were eager to know if the jury was keeping up with them.@@@@1@17@@oe@2-2-2013
21267045@unknown@formal@none@1@S@The solution devised by the professor was to hire six people who would mirror the actual jury demographically, sit in on the trial and report their reactions to him.@@@@1@29@@oe@2-2-2013
21267046@unknown@formal@none@1@S@He then briefed Messrs. Boies and Barr, who had the chance to tilt their next day's presentation accordingly.@@@@1@18@@oe@2-2-2013
21267047@unknown@formal@none@1@S@Thus, the "shadow" jury was born.@@@@1@6@@oe@2-2-2013
21267048@unknown@formal@none@1@S@Mr. Vinson, the professor, got the law bug and formed Litigation Sciences.@@@@1@12@@oe@2-2-2013
21267049@unknown@formal@none@1@S@(IBM won the case.)@@@@1@4@@oe@2-2-2013
21267050@unknown@formal@none@1@S@"The hardest thing in any complex case is to retain objectivity and, in some sense, your ignorance," says Mr. Boies of Cravath, Swaine & Moore.@@@@1@25@@oe@2-2-2013
21267051@unknown@formal@none@1@S@"What you look for in a shadow jury is very much what you do when you give an opening argument to your wife or a friend and get some response to it.@@@@1@32@@oe@2-2-2013
21267052@unknown@formal@none@1@S@A shadow jury is a way to do that in a more systematic and organized way."@@@@1@16@@oe@2-2-2013
21267053@unknown@formal@none@1@S@The approach worked well in the recent antitrust case in which Energy Transportation Systems Inc. sued Santa Fe Pacific Corp. over the transport of semi-liquefied coal -- the kind of case likely to make almost anyone's eyes glaze over.@@@@1@39@@oe@2-2-2013
21267054@unknown@formal@none@1@S@Energy Transportation retained Litigation Sciences, at a cost of several hundred thousand dollars, to poll, pre-try, profile and shadow.@@@@1@19@@oe@2-2-2013
21267055@unknown@formal@none@1@S@Just before the actual closing arguments, the firm put the case to a vote of the five shadow jurors, each of whom was being paid $150 a day.@@@@1@28@@oe@2-2-2013
21267056@unknown@formal@none@1@S@The jurors, who didn't know which side had retained them, decided for Energy Transportation, and awarded $500 million in damages.@@@@1@20@@oe@2-2-2013
21267057@unknown@formal@none@1@S@The real jury returned days later with a $345 million victory for Energy Transportation.@@@@1@14@@oe@2-2-2013
21267058@unknown@formal@none@1@S@"It's just like weather forecasting," says Energy Transportation trial attorney Harry Reasoner of Vinson & Elkins.@@@@1@16@@oe@2-2-2013
21267059@unknown@formal@none@1@S@"It's often wrong, but it's better than consulting an Indian rain dancer."@@@@1@12@@oe@2-2-2013
21267060@unknown@formal@none@1@S@Forecasting is only one part of Litigation Sciences' work.@@@@1@9@@oe@2-2-2013
21267061@unknown@formal@none@1@S@Changing the outcome of the trial is what really matters.@@@@1@10@@oe@2-2-2013
21267062@unknown@formal@none@1@S@And to the uninitiated, some of the firm's approaches may seem chillingly manipulative.@@@@1@13@@oe@2-2-2013
21267063@unknown@formal@none@1@S@Theoretically, jurors are supposed to weigh the evidence in a case logically and objectively.@@@@1@14@@oe@2-2-2013
21267064@unknown@formal@none@1@S@Instead, Mr. Vinson says, interviews with thousands of jurors reveal that they start with firmly entrenched attitudes and try to shoe-horn the facts of the case to fit their views.@@@@1@30@@oe@2-2-2013
21267065@unknown@formal@none@1@S@Pre-trial polling helps the consultants develop a profile of the right type of juror.@@@@1@14@@oe@2-2-2013
21267066@unknown@formal@none@1@S@If it is a case in which the client seeks punitive damages, for example, depressed, underemployed people are far more likely to grant them.@@@@1@24@@oe@2-2-2013
21267067@unknown@formal@none@1@S@Someone with a master's degree in classical arts who works in a deli would be ideal, Litigation Sciences advises.@@@@1@19@@oe@2-2-2013
21267068@unknown@formal@none@1@S@So would someone recently divorced or widowed.@@@@1@7@@oe@2-2-2013
21267069@unknown@formal@none@1@S@(Since Litigation Sciences generally represents the defense, its job is usually to help the lawyers identify and remove such people from the jury.)@@@@1@23@@oe@2-2-2013
21267070@unknown@formal@none@1@S@For personal-injury cases, Litigation Sciences seeks defense jurors who believe that most people, including victims, get what they deserve.@@@@1@19@@oe@2-2-2013
21267071@unknown@formal@none@1@S@Such people also typically hold negative attitudes toward the physically handicapped, the poor, blacks and women.@@@@1@16@@oe@2-2-2013
21267072@unknown@formal@none@1@S@The consultants help the defense lawyers find such jurors by asking questions about potential jurors' attitudes toward volunteer work, or toward particular movies or books.@@@@1@25@@oe@2-2-2013
21267073@unknown@formal@none@1@S@Litigation Sciences doesn't make moral distinctions.@@@@1@6@@oe@2-2-2013
21267074@unknown@formal@none@1@S@If a client needs prejudiced jurors, the firm will help find them.@@@@1@12@@oe@2-2-2013
21267075@unknown@formal@none@1@S@As Mr. Vinson explains it, "We don't control the facts.@@@@1@10@@oe@2-2-2013
21267076@unknown@formal@none@1@S@They are what they are.@@@@1@5@@oe@2-2-2013
21267077@unknown@formal@none@1@S@But any lawyer will select the facts and the strategy to employ.@@@@1@12@@oe@2-2-2013
21267078@unknown@formal@none@1@S@In our system of advocacy, the trial lawyer is duty bound to present the best case he possibly can."@@@@1@19@@oe@2-2-2013
21267079@unknown@formal@none@1@S@Once a jury is selected, the consultants often continue to determine what the jurors' attitudes are likely to be and help shape the lawyers' presentation accordingly.@@@@1@26@@oe@2-2-2013
21267080@unknown@formal@none@1@S@Logic plays a minimal role here.@@@@1@6@@oe@2-2-2013
21267081@unknown@formal@none@1@S@More important are what LSI calls "psychological anchors" -- a few focal points calculated to appeal to the jury on a gut level.@@@@1@23@@oe@2-2-2013
21267082@unknown@formal@none@1@S@In one personal-injury case, a woman claimed she had been injured when she slipped in a pool, but the fall didn't explain why one of her arms was discolored bluish.@@@@1@30@@oe@2-2-2013
21267083@unknown@formal@none@1@S@By repeatedly drawing the jury's attention to the arm, the defense lawyers planted doubt about the origin of the woman's injuries.@@@@1@21@@oe@2-2-2013
21267084@unknown@formal@none@1@S@The ploy worked.@@@@1@3@@oe@2-2-2013
21267085@unknown@formal@none@1@S@The defense won.@@@@1@3@@oe@2-2-2013
21267086@unknown@formal@none@1@S@In a classic defense of a personal-injury case, the consultants concentrate on encouraging the jury to shift the blame.@@@@1@19@@oe@2-2-2013
21267087@unknown@formal@none@1@S@"The ideal defense in a case involving an accident is to persuade the jurors to hold the accident victim responsible for his or her plight," Mr. Vinson has written.@@@@1@29@@oe@2-2-2013
21267088@unknown@formal@none@1@S@Slick graphics, pre-tested for effectiveness, also play a major role in Litigation Sciences' operation.@@@@1@14@@oe@2-2-2013
21267089@unknown@formal@none@1@S@Studies show, the consultants say, that people absorb information better and remember it longer if they receive it visually.@@@@1@19@@oe@2-2-2013
21267090@unknown@formal@none@1@S@Computer-generated videos help.@@@@1@3@@oe@2-2-2013
21267091@unknown@formal@none@1@S@"The average American watches seven hours of TV a day.@@@@1@10@@oe@2-2-2013
21267092@unknown@formal@none@1@S@They are very visually sophisticated," explains LSI graphics specialist Robert Seltzer.@@@@1@11@@oe@2-2-2013
21267093@unknown@formal@none@1@S@Lawyers remain divided about whether anything is wrong with all this.@@@@1@11@@oe@2-2-2013
21267094@unknown@formal@none@1@S@Supporters acknowledge that the process aims to manipulate, but they insist that the best trial lawyers have always employed similar tactics.@@@@1@21@@oe@2-2-2013
21267095@unknown@formal@none@1@S@"They may not have been able to articulate it all, but they did it," says Stephen Gillers, a legal ethics expert at New York University law school.@@@@1@27@@oe@2-2-2013
21267096@unknown@formal@none@1@S@"What you have here is intuition made manifest."@@@@1@8@@oe@2-2-2013
21267097@unknown@formal@none@1@S@Many lawyers maintain that all's fair in the adversary system as long as no one tampers with the evidence.@@@@1@19@@oe@2-2-2013
21267098@unknown@formal@none@1@S@Others point out that lawyers in small communities have always had a feel for public sentiment -- and used that to advantage.@@@@1@22@@oe@2-2-2013
21267099@unknown@formal@none@1@S@Litigation consulting isn't a guarantee of a favorable outcome.@@@@1@9@@oe@2-2-2013
21267100@unknown@formal@none@1@S@Litigation Sciences concedes that in one in 20 cases it was flatout wrong in its predictions.@@@@1@16@@oe@2-2-2013
21267101@unknown@formal@none@1@S@A few attorneys offer horror stories of jobs botched by consultants or of overpriced services -- as when one lawyer paid a consultant (not at Litigation Sciences) $70,000 to interview a jury after a big trial and later read more informative interviews with the same jurors in The American Lawyer magazine.@@@@1@51@@oe@2-2-2013
21267102@unknown@formal@none@1@S@Some litigators scoff at the notion that a sociologist knows more than they do about what makes a jury tick.@@@@1@20@@oe@2-2-2013
21267103@unknown@formal@none@1@S@"The essence of being a trial lawyer is understanding how people of diverse backgrounds react to you and your presentation," says Barry Ostrager of Simpson Thacher & Bartlett, who recently won a huge case on behalf of insurers against Shell Oil Co.@@@@1@42@@oe@2-2-2013
21267104@unknown@formal@none@1@S@He says he used consultants in the case but "found them to be virtually useless."@@@@1@15@@oe@2-2-2013
21267105@unknown@formal@none@1@S@But most lawyers accept that the marketplace has spoken.@@@@1@9@@oe@2-2-2013
21267106@unknown@formal@none@1@S@And the question remains whether the jury system can maintain its integrity while undergoing such a skillful massage.@@@@1@18@@oe@2-2-2013
21267107@unknown@formal@none@1@S@For more than a decade, Mr. Etzioni, the sociologist, has been a leading critic of the masseurs.@@@@1@17@@oe@2-2-2013
21267108@unknown@formal@none@1@S@"There's no reason to believe that juries rule inappropriately," he says.@@@@1@11@@oe@2-2-2013
21267109@unknown@formal@none@1@S@"But the last thing you want to do is manipulate the subconscious to make them think better.@@@@1@17@@oe@2-2-2013
21267110@unknown@formal@none@1@S@What you then do is you make them think inappropriately."@@@@1@10@@oe@2-2-2013
21267111@unknown@formal@none@1@S@To hamper the work of litigation scientists, he suggests that courts sharply limit the number of jurors that lawyers can remove from the jury panel through so-called peremptory challenges -- exclusions that don't require explanations.@@@@1@35@@oe@2-2-2013
21267112@unknown@formal@none@1@S@In most civil cases, judges allow each side three such challenges.@@@@1@11@@oe@2-2-2013
21267113@unknown@formal@none@1@S@For complex cases, judges sometimes allow many more.@@@@1@8@@oe@2-2-2013
21267114@unknown@formal@none@1@S@Mr. Etzioni also suggests forbidding anyone from gathering background information about the jurors.@@@@1@13@@oe@2-2-2013
21267115@unknown@formal@none@1@S@(Some courts release names and addresses, and researchers can drive by houses, look up credit ratings, and even question neighbors.)@@@@1@20@@oe@2-2-2013
21267116@unknown@formal@none@1@S@Furthermore, he says, psychologists should not be allowed to analyze jurors' personalities.@@@@1@12@@oe@2-2-2013
21267117@unknown@formal@none@1@S@Even some lawyers who have used consultants to their advantage see a need to limit their impact.@@@@1@17@@oe@2-2-2013
21267118@unknown@formal@none@1@S@Mr. Boies, the first lawyer to use Mr. Vinson's services, cautions against courts' allowing extensive jury questioning (known as voir dire) or giving out personal information about the jurors.@@@@1@29@@oe@2-2-2013
21267119@unknown@formal@none@1@S@"The more extensive the voir dire, the easier you make it for that kind of research to be effective, and I don't think courts should lend themselves to that," Mr. Boies says.@@@@1@32@@oe@2-2-2013
21268001@unknown@formal@none@1@S@Silicon Graphics Inc., a fast-growing maker of computer workstations, said it landed two federal government contracts worth more than $100 million over the next five years.@@@@1@26@@oe@2-2-2013
21268002@unknown@formal@none@1@S@One award is part of a Department of Defense contract to Loral Rolm Mil-Spec Computers and could be valued at more than $100 million over five years.@@@@1@27@@oe@2-2-2013
21268003@unknown@formal@none@1@S@The other involves the sale of about 35 of the company's high-end workstations to the National Institutes of Health.@@@@1@19@@oe@2-2-2013
21268004@unknown@formal@none@1@S@The models, which cost about $75,000 each, will be used in research.@@@@1@12@@oe@2-2-2013
21268005@unknown@formal@none@1@S@The awards are evidence that Silicon Graphics' approach to computer graphics is catching on with users of powerful desktop computers, analysts said.@@@@1@22@@oe@2-2-2013
21268006@unknown@formal@none@1@S@"The company's on a roll," said Robert Herwick, an analyst at Hambrecht & Quist.@@@@1@14@@oe@2-2-2013
21268007@unknown@formal@none@1@S@"No other {computer} vendor offers graphics performance that good for their price."@@@@1@12@@oe@2-2-2013
21268008@unknown@formal@none@1@S@In the battle to supply desktop computers for researchers and design engineers, most of the attention is given to the biggest competitors: Sun Microsystems Inc., Hewlett-Packard Co. and Digital Equipment Corp., which make computers mainly aimed at a wide range of engineering and scientific needs.@@@@1@45@@oe@2-2-2013
21268009@unknown@formal@none@1@S@Silicon Graphics, on the other hand, has targeted a specific niche since its inception in 1982, which has been dubbed by some as "motion-picture computing."@@@@1@25@@oe@2-2-2013
21268010@unknown@formal@none@1@S@This is a style of "visual" computing that provides three-dimensional, color models of everything from the inside of a house to the latest in women's fashion.@@@@1@26@@oe@2-2-2013
21268011@unknown@formal@none@1@S@Though Silicon Graphics is much smaller than Digital, Hewlett and Sun, it has emerged in recent years as a feared adversary in this graphics portion of the workstation market.@@@@1@29@@oe@2-2-2013
21268012@unknown@formal@none@1@S@In addition, the company has made it tough on competitors by offering a stream of desktop computers at sharply lower prices.@@@@1@21@@oe@2-2-2013
21268013@unknown@formal@none@1@S@A year ago, Silicon Graphics introduced a model priced at $15,000 -- almost as cheap as mainstream workstations that don't offer special graphics features.@@@@1@24@@oe@2-2-2013
21268014@unknown@formal@none@1@S@Silicon Graphics also plans to unveil even less expensive machines in the near future.@@@@1@14@@oe@2-2-2013
21268015@unknown@formal@none@1@S@"It's pretty safe to assume we can bring the cost down of these systems by 30% to 40% a year," said Edward McCracken, the company's chief executive officer.@@@@1@28@@oe@2-2-2013
21268016@unknown@formal@none@1@S@Silicon Graphics' strategy seems to be paying off.@@@@1@8@@oe@2-2-2013
21268017@unknown@formal@none@1@S@Revenue for its first quarter ended Sept. 30 was $86.4 million, a 95% increase over the year-ago period.@@@@1@18@@oe@2-2-2013
21268018@unknown@formal@none@1@S@Profit was $5.2 million, compared with $1 million for the year-ago quarter.@@@@1@12@@oe@2-2-2013
21269001@unknown@formal@none@1@S@Remember those bulky, thick-walled refrigerators of 30 years ago?@@@@1@9@@oe@2-2-2013
21269002@unknown@formal@none@1@S@They, or at least something less efficient than today's thin-walled units, may soon be making a comeback.@@@@1@17@@oe@2-2-2013
21269003@unknown@formal@none@1@S@That something, whatever it is, could add as much as $100 to the $600 or so consumers now pay for lower-priced refrigerators.@@@@1@22@@oe@2-2-2013
21269004@unknown@formal@none@1@S@These and other expensive changes in products ranging from auto air conditioners to foam cushioning to commercial solvents are in prospect because of something called the Montreal Protocol, signed by 24 nations in 1987.@@@@1@34@@oe@2-2-2013
21269005@unknown@formal@none@1@S@In one of the most sweeping environmental regulatory efforts to date -- involving products with an annual value of $135 billion in the U.S. alone -- the signatories agreed to curtail sharply the use of chlorofluorocarbons (CFCs).@@@@1@37@@oe@2-2-2013
21269006@unknown@formal@none@1@S@World-wide production would be cut in half by 1998.@@@@1@9@@oe@2-2-2013
21269007@unknown@formal@none@1@S@The U.S. Senate liked the treaty so well it ratified it by a vote of 89 to 0.@@@@1@18@@oe@2-2-2013
21269008@unknown@formal@none@1@S@Not to be outdone, George Bush wants CFCs banished altogether by the year 2000, a goal endorsed at an 80-nation U.N. environmental meeting in Helsinki in the spring.@@@@1@28@@oe@2-2-2013
21269009@unknown@formal@none@1@S@That's a lot of banishment, as it turns out.@@@@1@9@@oe@2-2-2013
21269010@unknown@formal@none@1@S@CFCs are the primary ingredient in a gas, often referred to by the Du Pont trade name Freon, which is compressed to liquid form to serve as the cooling agent in refrigeration and air-conditioning equipment.@@@@1@35@@oe@2-2-2013
21269011@unknown@formal@none@1@S@Gases containing CFCs are pumped into polyurethane to make the foam used in pillows, upholstery and insulation.@@@@1@17@@oe@2-2-2013
21269012@unknown@formal@none@1@S@Polyurethane foam is a highly efficient insulator, which accounts for why the walls of refrigerators and freezers can be thinner now than they were back in the days when they were insulated with glass fiber.@@@@1@35@@oe@2-2-2013
21269013@unknown@formal@none@1@S@But even though by some estimates it might cost the world as much as $100 billion between now and the year 2000 to convert to other coolants, foaming agents and solvents and to redesign equipment for these less efficient substitutes, the Montreal Protocol's legions of supporters say it is worth it.@@@@1@51@@oe@2-2-2013
21269014@unknown@formal@none@1@S@They insist that CFCs are damaging the earth's stratospheric ozone layer, which screens out some of the sun's ultraviolet rays.@@@@1@20@@oe@2-2-2013
21269015@unknown@formal@none@1@S@Hence, as they see it, if something isn't done earthlings will become ever more subject to sunburn and skin cancer.@@@@1@20@@oe@2-2-2013
21269016@unknown@formal@none@1@S@Peter Teagan, a specialist in heat transfer, is running a project at Arthur D. Little Inc., of Cambridge, Mass., to find alternative technologies that will allow industry to eliminate CFCs.@@@@1@30@@oe@2-2-2013
21269017@unknown@formal@none@1@S@In addition to his interest in ozone depletion he has extensively studied the related topic of global warming, a theory that mankind's generation of carbon dioxide through increased combustion of fossil fuels is creating a "greenhouse effect" that will work important climatic changes in the earth's atmosphere over time.@@@@1@49@@oe@2-2-2013
21269018@unknown@formal@none@1@S@"I would be the first to admit that there is not a complete consensus in the scientific community on either one of these problems," says Mr. Teagan.@@@@1@27@@oe@2-2-2013
21269019@unknown@formal@none@1@S@"In the kind of literature I read I come across countervailing opinions quite frequently.@@@@1@14@@oe@2-2-2013
21269020@unknown@formal@none@1@S@But the nature of the problem is such that many others feel it has to be addressed soon, before all the evidence is in.@@@@1@24@@oe@2-2-2013
21269021@unknown@formal@none@1@S@We can't afford to wait."@@@@1@5@@oe@2-2-2013
21269022@unknown@formal@none@1@S@But does it have to be so soon?@@@@1@8@@oe@2-2-2013
21269023@unknown@formal@none@1@S@Some atmospheric scientists think that even if CFCs were released into the atmosphere at an accelerating rate, the amount of ozone depletion would be only 10% by the middle of the next century.@@@@1@33@@oe@2-2-2013
21269024@unknown@formal@none@1@S@It's easy to get something comparable by simply moving to a higher altitude in the U.S.@@@@1@16@@oe@2-2-2013
21269025@unknown@formal@none@1@S@Moreover, there are questions, particularly among atmospheric scientists who know this subject best, about the ability of anyone to know what in fact is happening to the ozone layer.@@@@1@29@@oe@2-2-2013
21269026@unknown@formal@none@1@S@It is generally agreed that when CFCs rise from earth to stratosphere, the chlorine in them is capable of interfering with the process through which ultraviolet rays split oxygen molecules and form ozone.@@@@1@33@@oe@2-2-2013
21269027@unknown@formal@none@1@S@But ozone creation is a very large-scale natural process and the importance of human-generated CFCs in reducing it is largely a matter of conjecture.@@@@1@24@@oe@2-2-2013
21269028@unknown@formal@none@1@S@The ozone layer is constantly in motion and thus very hard to measure.@@@@1@13@@oe@2-2-2013
21269029@unknown@formal@none@1@S@What scientists have known since the late 1970s is that there is a hole in the layer over Antarctica that expands or contracts from year to year.@@@@1@27@@oe@2-2-2013
21269030@unknown@formal@none@1@S@But it is at least worthy of some note that there are very few refrigerators in Antarctica.@@@@1@17@@oe@2-2-2013
21269031@unknown@formal@none@1@S@Moreover, surely someone has noticed that household refrigerators are closed systems, running for many years without either the CFC gas or the insulation ever escaping.@@@@1@25@@oe@2-2-2013
21269032@unknown@formal@none@1@S@Another argument of the environmentalists is that if substitutes are available, why not use them?@@@@1@15@@oe@2-2-2013
21269033@unknown@formal@none@1@S@Mr. Teagan cites a list of substitutes but none, so far, match the nonflammable, nontoxic CFCs.@@@@1@16@@oe@2-2-2013
21269034@unknown@formal@none@1@S@Butane and propane can be used as coolants, for example, but are flammable.@@@@1@13@@oe@2-2-2013
21269035@unknown@formal@none@1@S@Moreover, new lubricants will be needed to protect compressors from the new formulations, which, as with CFCs, are solvents.@@@@1@19@@oe@2-2-2013
21269036@unknown@formal@none@1@S@Mr. Teagan points out as well that if the equipment designed to get along without CFCs is less efficient than current devices, energy consumption will rise and that will worsen the greenhouse effect.@@@@1@33@@oe@2-2-2013
21269037@unknown@formal@none@1@S@Folks in the Midwest who just suffered a mid-October snowstorm may wonder where the greenhouse was when they needed it, but let's not be flippant about grave risks.@@@@1@28@@oe@2-2-2013
21269038@unknown@formal@none@1@S@As it happens, Arthur D. Little is not at all interested in throwing cold water on ozone depletion and global warming theories.@@@@1@22@@oe@2-2-2013
21269039@unknown@formal@none@1@S@It is interested in making some money advising industry on how to convert to a world without CFCs.@@@@1@18@@oe@2-2-2013
21269040@unknown@formal@none@1@S@There is, after all, big money in environmentalism.@@@@1@8@@oe@2-2-2013
21269041@unknown@formal@none@1@S@Maybe we should ask why it was that Du Pont so quickly capitulated and issued a statement, giving it wide publicity, that it was withdrawing CFCs.@@@@1@26@@oe@2-2-2013
21269042@unknown@formal@none@1@S@Freon, introduced in 1930, revolutionized America by making refrigeration and air conditioning practical after all.@@@@1@15@@oe@2-2-2013
21269043@unknown@formal@none@1@S@One answer is that big companies are growing weary of fighting environmental movements and are trying instead to cash in on them, although they never care to put it quite that way.@@@@1@32@@oe@2-2-2013
21269044@unknown@formal@none@1@S@Du Pont, as it happens, has a potential substitute for CFCs.@@@@1@11@@oe@2-2-2013
21269045@unknown@formal@none@1@S@Imperial Chemical Industries of the U.K. also has one, and is building a plant in Louisiana to produce it.@@@@1@19@@oe@2-2-2013
21269046@unknown@formal@none@1@S@Japanese chemical companies are at work developing their own substitutes and hoping to conquer new markets, of course.@@@@1@18@@oe@2-2-2013
21269047@unknown@formal@none@1@S@There are still others who don't mind seeing new crises arise.@@@@1@11@@oe@2-2-2013
21269048@unknown@formal@none@1@S@Environmental groups would soon go out of business were they not able to send out mailings describing the latest threat and asking for money to fight it.@@@@1@27@@oe@2-2-2013
21269049@unknown@formal@none@1@S@University professors and consultants with scientific credentials saw a huge market for their services evaporate when price decontrol destroyed the energy crisis and thus the demand for "alternative energy."@@@@1@29@@oe@2-2-2013
21269050@unknown@formal@none@1@S@They needed new crises to generate new grants and contracts.@@@@1@10@@oe@2-2-2013
21269051@unknown@formal@none@1@S@In other words, environmentalism has created a whole set of vested interests that fare better when there are many problems than when there are few.@@@@1@25@@oe@2-2-2013
21269052@unknown@formal@none@1@S@That tends to tilt the public debate toward "solutions" even when some of the most knowledgeable scientists are skeptical about the seriousness of the threats and the insistence of urgency.@@@@1@30@@oe@2-2-2013
21269053@unknown@formal@none@1@S@There is an element of make-work involved.@@@@1@7@@oe@2-2-2013
21269054@unknown@formal@none@1@S@Consumers pay the bill for all this in the price of a refrigerator or an air-conditioned car.@@@@1@17@@oe@2-2-2013
21269055@unknown@formal@none@1@S@If they were really getting insurance against environmental disaster, the price would be cheap.@@@@1@14@@oe@2-2-2013
21269056@unknown@formal@none@1@S@But if there is no impending threat, it can get to be very expensive.@@@@1@14@@oe@2-2-2013
21270001@unknown@formal@none@1@S@but worries about 1990.@@@@1@4@@oe@2-2-2013
21270002@unknown@formal@none@1@S@With most legislatures adjourned for the year, small business is tallying its scorecard.@@@@1@13@@oe@2-2-2013
21270003@unknown@formal@none@1@S@Much of its attention was spent fighting organized labor's initiatives on issues the small-business community traditionally opposes -- from raising state minimum wage levels to mandating benefits in health plans.@@@@1@30@@oe@2-2-2013
21270004@unknown@formal@none@1@S@While results were mixed in many states, "small business got by fairly well," concludes Don L. Robinson, associate director of the National Federation of Independent Business, the largest small-business organization.@@@@1@30@@oe@2-2-2013
21270005@unknown@formal@none@1@S@Five states -- Oregon, Rhode Island, New Hampshire, Iowa and Wisconsin -- passed bills to boost the minimum wage, but measures in 19 other states were defeated.@@@@1@27@@oe@2-2-2013
21270006@unknown@formal@none@1@S@Oregon's rate will rise to $4.75 an hour, the nation's highest, in Jan. 1, 1991.@@@@1@15@@oe@2-2-2013
21270007@unknown@formal@none@1@S@Iowa's will be the second highest -- at $4.65 an hour in January 1992 -- but small-business lobbyists won an exclusion for tiny concerns and a lower training rate.@@@@1@29@@oe@2-2-2013
21270008@unknown@formal@none@1@S@In 17 central states, one small-business count shows lawmakers adopted only three of 46 bills mandating health coverage or parental leave.@@@@1@21@@oe@2-2-2013
21270009@unknown@formal@none@1@S@The Illinois Legislature narrowly passed a parental-leave bill, which Gov. James Thompson vetoed, and Iowa and Tennessee amended laws to require that employers pay for breast-cancer exams.@@@@1@27@@oe@2-2-2013
21270010@unknown@formal@none@1@S@Small business is bracing for an avalanche of similar proposals next year.@@@@1@12@@oe@2-2-2013
21270011@unknown@formal@none@1@S@"Those kinds of issues always keep coming back," says Robert Beckwith, who manages the Illinois Chamber of Commerce's small-business office.@@@@1@20@@oe@2-2-2013
21270012@unknown@formal@none@1@S@DESPITE VICTORIES this year, small business fears losing parental-leave war.@@@@1@10@@oe@2-2-2013
21270013@unknown@formal@none@1@S@Only two states -- Vermont and Washington -- this year joined five others requiring private employers to grant leaves of absence to employees with newborn or adopted infants.@@@@1@28@@oe@2-2-2013
21270014@unknown@formal@none@1@S@Similar proposals were defeated in at least 15 other states.@@@@1@10@@oe@2-2-2013
21270015@unknown@formal@none@1@S@But small business, which generally detests government-mandated benefits, has taken note of the growing number of close votes.@@@@1@18@@oe@2-2-2013
21270016@unknown@formal@none@1@S@"It's just a matter of time before the tide turns," says one Midwestern lobbyist.@@@@1@14@@oe@2-2-2013
21270017@unknown@formal@none@1@S@Consequently, small business is taking more "pro-active" steps to counter mandated leaves.@@@@1@12@@oe@2-2-2013
21270018@unknown@formal@none@1@S@In Pennsylvania, small businesses are pushing for a voluntary alternative; they favor a commission that would develop sample leave policies that employers could adopt.@@@@1@24@@oe@2-2-2013
21270019@unknown@formal@none@1@S@They also support a tax credit for employers to offset the cost of hiring and training workers who temporarily replace employees on parental leave.@@@@1@24@@oe@2-2-2013
21270020@unknown@formal@none@1@S@In 1990, the issue is expected to be especially close in Alaska, California, Michigan, New York, Pennsylvania and Illinois.@@@@1@19@@oe@2-2-2013
21270021@unknown@formal@none@1@S@"We'll be playing a lot of defense, especially in the Midwest and Northeast," says Jim Buente of the NFIB.@@@@1@19@@oe@2-2-2013
21270022@unknown@formal@none@1@S@IN LOS ANGELES, more small businesses ponder adopting a child-care policy.@@@@1@11@@oe@2-2-2013
21270023@unknown@formal@none@1@S@Triggering the re-examination is a recent city council decision to give preference in letting city contracts to suppliers with a stated policy on child care for their employees.@@@@1@28@@oe@2-2-2013
21270024@unknown@formal@none@1@S@The preferential treatment even applies to awarding small contracts under $25,000 and consulting and temporary services -- which often go to the smaller concerns.@@@@1@24@@oe@2-2-2013
21270025@unknown@formal@none@1@S@Firms are permitted wide flexibility in the child-care arrangements they provide.@@@@1@11@@oe@2-2-2013
21270026@unknown@formal@none@1@S@Council member Joy Picus, the measure's chief advocate, considers it part of a "pro-family policy" that makes Los Angeles a leader in "humanizing the workplace."@@@@1@25@@oe@2-2-2013
21270027@unknown@formal@none@1@S@NOVEMBER BALLOTS will contain few referendum or initiative issues that especially affect small business.@@@@1@14@@oe@2-2-2013
21270028@unknown@formal@none@1@S@In San Francisco, small businesses are urging passage of a local initiative to build a new $95 million downtown baseball stadium; they believe it will spur retail sales and hotel-restaurant business.@@@@1@31@@oe@2-2-2013
21270029@unknown@formal@none@1@S@But in Washington state, small business generally opposes an initiative to boost spending on children's programs by $360 million, fearing the state's 7.8% sales tax will be raised to finance the outlays.@@@@1@32@@oe@2-2-2013
21270030@unknown@formal@none@1@S@DIALING DOLLARS:@@@@1@2@@oe@2-2-2013
21270031@unknown@formal@none@1@S@Small businesses in suburban Chicago are discovering that an area-code switch Nov. 11 -- to 708 from the familiar 312 -- won't be without some costs as they alter stationery, among other things, and notify customers.@@@@1@36@@oe@2-2-2013
21270032@unknown@formal@none@1@S@Wessels & Pautsch, a small St. Charles law firm, plans to mail 500 customers a list of its lawyers' new phone and fax numbers as well as updated Rolodex cards.@@@@1@30@@oe@2-2-2013
21270033@unknown@formal@none@1@S@But many owners plan to practice frugality -- crossing out the old code and writing in the new one until their stock runs out.@@@@1@24@@oe@2-2-2013
21270034@unknown@formal@none@1@S@Even print-shop operator Clay Smith of Naperville won't discard his old supply.@@@@1@12@@oe@2-2-2013
21270035@unknown@formal@none@1@S@(He reports his business is up slightly from customers replacing old stock.)@@@@1@12@@oe@2-2-2013
21270036@unknown@formal@none@1@S@CALIFORNIA, A TREND-SETTER in franchising rules, stirs a controversy.@@@@1@9@@oe@2-2-2013
21270037@unknown@formal@none@1@S@With some new rules, state officials say they made it easier -- and faster -- to sell new franchises whose terms stray from those in state-registered contracts.@@@@1@27@@oe@2-2-2013
21270038@unknown@formal@none@1@S@Previously, regulators insisted that franchisers pre-register such changes with the state -- a costly process taking at least six weeks.@@@@1@20@@oe@2-2-2013
21270039@unknown@formal@none@1@S@Now some negotiated sales that meet a series of tests don't have to be pre-registered.@@@@1@15@@oe@2-2-2013
21270040@unknown@formal@none@1@S@For instance, franchisers no longer must pre-register sales to aspiring franchisees who qualify as "sophisticated purchasers."@@@@1@16@@oe@2-2-2013
21270041@unknown@formal@none@1@S@Such buyers must have a minimum net worth of $1 million, $200,000 annual income, or recent experience in the business area of the franchise being sold.@@@@1@26@@oe@2-2-2013
21270042@unknown@formal@none@1@S@But critics consider the changes regressive.@@@@1@6@@oe@2-2-2013
21270043@unknown@formal@none@1@S@Lewis G. Rudnick, a Chicago lawyer who represents franchisers, contends California is narrowly limiting -- rather than expanding -- opportunities for negotiating sales.@@@@1@23@@oe@2-2-2013
21270044@unknown@formal@none@1@S@He argues California regulators historically have misinterpreted their law -- and he says negotiated sales that aren't pre-registered have been legal all along.@@@@1@23@@oe@2-2-2013
21270045@unknown@formal@none@1@S@San Francisco lawyer Timothy H. Fine, who represents franchisees, insists California's cautiousness helps protect franchisees from crafty sales negotiators who push unlawful clauses.@@@@1@23@@oe@2-2-2013
21270046@unknown@formal@none@1@S@SMALL TALK:@@@@1@2@@oe@2-2-2013
21270047@unknown@formal@none@1@S@A new Maryland law frees store owners of liability if a customer trips or otherwise gets hurt on the way to the restroom. . . .@@@@1@26@@oe@2-2-2013
21270048@unknown@formal@none@1@S@Only 4% of Missouri small businesses surveyed say they've tested an employee or applicant for drug or alcohol use. . . .@@@@1@22@@oe@2-2-2013
21270049@unknown@formal@none@1@S@By 52%-36%, Tennessee NFIB members favor laws to limit foreign ownership of land and facilities in the state.@@@@1@18@@oe@2-2-2013
21271001@unknown@formal@none@1@S@About 400,000 commuters trying to find their way through the Bay area's quake-torn transportation system wedged cheek-to-jowl into subways, sat in traffic jams on major freeways or waited forlornly for buses yesterday.@@@@1@32@@oe@2-2-2013
21271002@unknown@formal@none@1@S@In other words, it was a better-than-average Manhattan commute.@@@@1@9@@oe@2-2-2013
21271003@unknown@formal@none@1@S@City officials feared widespread gridlock on the first day that normal business operations were resumed following last Tuesday's earthquake.@@@@1@19@@oe@2-2-2013
21271004@unknown@formal@none@1@S@The massive temblor, which killed at least 61 people, severed the Bay Bridge, a major artery to the east, and closed most ramps leading to and from Highway 101, the biggest artery to the south.@@@@1@35@@oe@2-2-2013
21271005@unknown@formal@none@1@S@It will take several weeks to repair the bridge, and several months to repair some of the 101 connections.@@@@1@19@@oe@2-2-2013
21271006@unknown@formal@none@1@S@But in spite of a wind-driven rainstorm, gridlock never materialized, mainly because the Bay Area Rapid Transit subway system carried 50% more passengers than normal.@@@@1@25@@oe@2-2-2013
21271007@unknown@formal@none@1@S@For the first time in memory, it was standing-room only in BART's sleek, modern railcars.@@@@1@15@@oe@2-2-2013
21271008@unknown@formal@none@1@S@Moreover, the two main bridges still connecting San Francisco with the East Bay didn't charge tolls, allowing traffic to zip through without stopping.@@@@1@23@@oe@2-2-2013
21271009@unknown@formal@none@1@S@Officials also suspect that traffic benefited from steps by major employers to get workers to come in at odd hours, or that many workers are still staying at home.@@@@1@29@@oe@2-2-2013
21271010@unknown@formal@none@1@S@Many commuters who normally drove across the Bay Bridge, which is shut down for several weeks because of damage to one span, actually may have reached work a bit faster on BART yesterday, provided they could find a parking space at the system's jammed stations.@@@@1@45@@oe@2-2-2013
21271011@unknown@formal@none@1@S@In the best of times, the Bay Bridge is the worst commute in the region, often experiencing back-ups of 20 to 30 minutes or more.@@@@1@25@@oe@2-2-2013
21271012@unknown@formal@none@1@S@Not that getting into town was easy.@@@@1@7@@oe@2-2-2013
21271013@unknown@formal@none@1@S@Storm flooding caused back-ups on the freeway, and many commuters had to find rides to BART's stations, because parking lots were full before dawn.@@@@1@24@@oe@2-2-2013
21271014@unknown@formal@none@1@S@Bus schedules were sometimes in disarray, stranding commuters such as Marilyn Sullivan.@@@@1@12@@oe@2-2-2013
21271015@unknown@formal@none@1@S@Her commute from Petaluma, Calif., normally takes an hour and 15 minutes, via the Golden Gate Bridge, which connects San Francisco with the North Bay area.@@@@1@26@@oe@2-2-2013
21271016@unknown@formal@none@1@S@Yesterday, she was still waiting at a bus stop after three hours, trying to transfer to a bus going to the financial district.@@@@1@23@@oe@2-2-2013
21271017@unknown@formal@none@1@S@"It's worse than I thought," she said.@@@@1@7@@oe@2-2-2013
21271018@unknown@formal@none@1@S@"I don't know where all the buses are."@@@@1@8@@oe@2-2-2013
21271019@unknown@formal@none@1@S@But while traffic was heavy early in the commute over the Golden Gate, by 8 a.m. it already had thinned out.@@@@1@21@@oe@2-2-2013
21271020@unknown@formal@none@1@S@"It's one of the smoothest commutes I've ever had," said Charles Catania, an insurance broker on the bus from Mill Valley in Marin County.@@@@1@24@@oe@2-2-2013
21271021@unknown@formal@none@1@S@"It looks like a holiday.@@@@1@5@@oe@2-2-2013
21271022@unknown@formal@none@1@S@I think a lot of people got scared and stayed home."@@@@1@11@@oe@2-2-2013
21271023@unknown@formal@none@1@S@However, a spokeswoman for BankAmerica Corp. said yesterday's absenteeism at the bank holding company was no greater than on an average day.@@@@1@22@@oe@2-2-2013
21271024@unknown@formal@none@1@S@At the San Mateo Bridge, which connects the San Francisco peninsula with the East Bay, police were surprised at the speed with which traffic moved.@@@@1@25@@oe@2-2-2013
21271025@unknown@formal@none@1@S@"Everybody pretty much pitched in and cooperated," said Stan Perez, a sergeant with the California Highway Patrol.@@@@1@17@@oe@2-2-2013
21271026@unknown@formal@none@1@S@There were many indications that the new work hours implemented by major corporations played a big role.@@@@1@17@@oe@2-2-2013
21271027@unknown@formal@none@1@S@The Golden Gate handled as many cars as normally yesterday, but over four hours rather than the usual two-hour crush.@@@@1@20@@oe@2-2-2013
21271028@unknown@formal@none@1@S@Bechtel Group Inc., the giant closely held engineering concern, says it has instituted a 6 a.m. to 8 p.m. flextime arrangement, whereby employees may select any eight-hour period during those hours to go to work.@@@@1@35@@oe@2-2-2013
21271029@unknown@formal@none@1@S@Of Bechtel's 17,500 employees, about 4,000 work in San Francisco -- one-third of them commuting from stricken East Bay.@@@@1@19@@oe@2-2-2013
21271030@unknown@formal@none@1@S@Pacific Gas & Electric Co. is offering its 6,000 San Francisco employees a two-tier flextime schedule -- either 6 a.m. to 2 p.m. or 10 a.m. to 6 p.m.@@@@1@29@@oe@2-2-2013
21271031@unknown@formal@none@1@S@The flextime may cut by almost a third the number of PG&E employees working conventional 9-5 hours, a spokesman says.@@@@1@20@@oe@2-2-2013
21271032@unknown@formal@none@1@S@Some of the utility's employees may opt for a four-day workweek, 10 hours a day, to cut the commute by 20%.@@@@1@21@@oe@2-2-2013
21271033@unknown@formal@none@1@S@At Pacific Telesis Group, flextime is left up to individual working groups, because some of the telephone company's employees must be on-site during normal business hours, a spokeswoman says.@@@@1@29@@oe@2-2-2013
21271034@unknown@formal@none@1@S@Some individuals went to some lengths on their own to avoid the anticipated gridlock.@@@@1@14@@oe@2-2-2013
21271035@unknown@formal@none@1@S@One senior vice president at Bechtel said he got up at 3 a.m. to drive into San Francisco from the East Bay.@@@@1@22@@oe@2-2-2013
21271036@unknown@formal@none@1@S@But transportation officials worry that such extraordinary measures and cooperation may not last.@@@@1@13@@oe@2-2-2013
21271037@unknown@formal@none@1@S@Although one transportation official said drivers who didn't use car pools were committing "an anti-social act," about two-thirds of the motorists crossing the Golden Gate were alone, compared with the normal 70% rate.@@@@1@33@@oe@2-2-2013
21271038@unknown@formal@none@1@S@And some commuters, relieved by the absence of gridlock, were planning to return to their old ways.@@@@1@17@@oe@2-2-2013
21272001@unknown@formal@none@1@S@Garry Kasparov went to combat Sunday with the world's most advanced chess computer and kicked it around -- symbolically, anyway -- like an old tin can.@@@@1@26@@oe@2-2-2013
21272002@unknown@formal@none@1@S@Playing black in the first game, the human champion maneuvered Deep Thought, known for its attacking prowess, into a totally passive position.@@@@1@22@@oe@2-2-2013
21272003@unknown@formal@none@1@S@Then he unleashed his own, unstoppable, attack.@@@@1@7@@oe@2-2-2013
21272004@unknown@formal@none@1@S@And in the second game, with Mr. Kasparov advancing ferociously as white, D.T. offered feeble resistance and lost even faster.@@@@1@20@@oe@2-2-2013
21272005@unknown@formal@none@1@S@Well, mankind can rest easier for now.@@@@1@7@@oe@2-2-2013
21272006@unknown@formal@none@1@S@Though almost everybody at the playing site had been looking for the 26-year-old Soviet to beat the Pennsylvania-based computer, he gave the machine a far worse drubbing than many expected.@@@@1@30@@oe@2-2-2013
21272007@unknown@formal@none@1@S@And when Mr. Kasparov strode into the playing hall, he called the outcome.@@@@1@13@@oe@2-2-2013
21272008@unknown@formal@none@1@S@As if he were Iron Mike, about to enter the ring with a 98-pound weakling, he declared: "I'll be able to beat any computer for the next five years."@@@@1@29@@oe@2-2-2013
21272009@unknown@formal@none@1@S@His strategy against D.T. was based on a thorough study of dozens of its games, he said, including its notorious whippings of the grandmasters Bent Larsen of Denmark and Robert Byrne of the U.S.@@@@1@34@@oe@2-2-2013
21272010@unknown@formal@none@1@S@Mr. Kasparov was underwhelmed.@@@@1@4@@oe@2-2-2013
21272011@unknown@formal@none@1@S@"The computer's mind is too straight, too primitive," lacking the intuition and creativity needed to reach the top, he said.@@@@1@20@@oe@2-2-2013
21272012@unknown@formal@none@1@S@The champion apparently was not worried at all about D.T.'s strong points.@@@@1@12@@oe@2-2-2013
21272013@unknown@formal@none@1@S@Its chief builder, Taiwan-born Feng-hsiung Hsu, nicknamed his brainchild "the Weasel" for its tactical flair at wriggling out of horrible positions.@@@@1@21@@oe@2-2-2013
21272014@unknown@formal@none@1@S@D.T. also has a prodigious and flawless memory, is utterly fearless, and couldn't be distracted by the sexy nude sculptures spread around the playing hall, in the New York Academy of Art.@@@@1@32@@oe@2-2-2013
21272015@unknown@formal@none@1@S@In fact, D.T. never left home, Carnegie Mellon University in Pittsburgh, but communicated with its human handlers by telephone link.@@@@1@20@@oe@2-2-2013
21272016@unknown@formal@none@1@S@They conceded that the odds favored Mr. Kasparov, but they put their hope in D.T.'s recently enhanced capacity for examining positions -- up to a million per second, from 720,000.@@@@1@30@@oe@2-2-2013
21272017@unknown@formal@none@1@S@But the handlers mistakenly stuck with silicon chips; they needed kryptonite.@@@@1@11@@oe@2-2-2013
21272018@unknown@formal@none@1@S@This became apparent as game one, a Sicilian Defense by Mr. Kasparov, proceeded.@@@@1@13@@oe@2-2-2013
21272019@unknown@formal@none@1@S@No human can examine millions of moves, but Mr. Kasparov, using his ineffably powerful brain, consistently found very good ones.@@@@1@20@@oe@2-2-2013
21272020@unknown@formal@none@1@S@After eight moves by each side, the board was the same as in a game in which Nigel Short of Great Britain fought the champion to a draw in 1980.@@@@1@30@@oe@2-2-2013
21272021@unknown@formal@none@1@S@But the computer didn't play Mr. Short's ninth move, a key pawn thrust, and its position deteriorated rapidly.@@@@1@18@@oe@2-2-2013
21272022@unknown@formal@none@1@S@Instead of castling, a standard measure to safeguard the king, D.T. made a second-rate rook maneuver at move 13; then it put a knight offside on move 16.@@@@1@28@@oe@2-2-2013
21272023@unknown@formal@none@1@S@"Only two classes of minds would think of this -- very weak human players, and computers," said Edmar Mednis, the expert commentator for the match, which was attended by hundreds of chess fans.@@@@1@33@@oe@2-2-2013
21272024@unknown@formal@none@1@S@By move 21, D.T. had fallen into a deep positional trap.@@@@1@11@@oe@2-2-2013
21272025@unknown@formal@none@1@S@It allowed Mr. Kasparov to exchange his dark-squared bishop for one of D.T.'s knights.@@@@1@14@@oe@2-2-2013
21272026@unknown@formal@none@1@S@Bishops usually are worth slightly more than knights, but in this case Mr. Kasparov was left with a very dangerous knight and D.T.'s surviving bishop was reduced to passivity.@@@@1@29@@oe@2-2-2013
21272027@unknown@formal@none@1@S@Indeed, it looked more like a pawn, a "tall pawn," as spectators snidely put it.@@@@1@15@@oe@2-2-2013
21272028@unknown@formal@none@1@S@Consistently, D.T. was over-optimistic about its chances, which it continually sized up, in numerical form.@@@@1@15@@oe@2-2-2013
21272029@unknown@formal@none@1@S@When most spectators thought its position hopeless, the computer thought it was only, in effect, one-half of a pawn down.@@@@1@20@@oe@2-2-2013
21272030@unknown@formal@none@1@S@Such evaluations met with derision, and kept the machine from resigning as soon as humans would have -- prompting more derision.@@@@1@21@@oe@2-2-2013
21272031@unknown@formal@none@1@S@While D.T. shuffled its king back and forth in a defensive crouch, Mr. Kasparov maneuvered the knight to a dominant outpost.@@@@1@21@@oe@2-2-2013
21272032@unknown@formal@none@1@S@He also launched a kingside storm, sacrificing a pawn to denude D.T.'s king.@@@@1@13@@oe@2-2-2013
21272033@unknown@formal@none@1@S@No amount of weasling could have saved this game for D.T.@@@@1@11@@oe@2-2-2013
21272034@unknown@formal@none@1@S@A piece down, the computer resigned.@@@@1@6@@oe@2-2-2013
21272035@unknown@formal@none@1@S@Now, with the crowd in the analysis room smelling figurative blood, the only question seemed to be how fast Mr. Kasparov could win game two.@@@@1@25@@oe@2-2-2013
21272036@unknown@formal@none@1@S@With the advantage of playing white (which moves first), Mr. Kasparov followed up cleverly against the computer's defense, a Queen's Gambit Accepted.@@@@1@22@@oe@2-2-2013
21272037@unknown@formal@none@1@S@As early as move six, Mr. Kasparov deviated from a well-known sequence of moves, developing a knight instead of making a standard bishop attack against the computer's advanced knight.@@@@1@29@@oe@2-2-2013
21272038@unknown@formal@none@1@S@This left the computer with a broader range of plausible replies -- and it immediately blundered by moving a queenside pawn, to the neglect of kingside development.@@@@1@27@@oe@2-2-2013
21272039@unknown@formal@none@1@S@"In a new position just after the opening, a computer will have serious problems," Mr. Kasparov said later.@@@@1@18@@oe@2-2-2013
21272040@unknown@formal@none@1@S@In such positions, he explained, "you have to create something new, and the computer isn't able to do that right now."@@@@1@21@@oe@2-2-2013
21272041@unknown@formal@none@1@S@After only 11 moves for each side, the computer's position was shaky.@@@@1@12@@oe@2-2-2013
21272042@unknown@formal@none@1@S@Greedily, it grabbed a pawn, at the cost of facing a brutal attack.@@@@1@13@@oe@2-2-2013
21272043@unknown@formal@none@1@S@And when a defensive move was called for, D.T. passed up an obvious pawn move and instead exposed its queen to immediate tactical threats.@@@@1@24@@oe@2-2-2013
21272044@unknown@formal@none@1@S@Mr. Kasparov remarked later that "even a weak club player" would have avoided the queen move.@@@@1@16@@oe@2-2-2013
21272045@unknown@formal@none@1@S@Now, after only a dozen moves, spectators were looking for a mating combination.@@@@1@13@@oe@2-2-2013
21272046@unknown@formal@none@1@S@On a demonstration board, emcee Shelby Lyman showed a quick kill initiated by a knight sacrifice; no spectator refuted this line of play.@@@@1@23@@oe@2-2-2013
21272047@unknown@formal@none@1@S@Mr. Kasparov's continuation was slower but, in the end, just as deadly.@@@@1@12@@oe@2-2-2013
21272048@unknown@formal@none@1@S@He won D.T.'s queen for two minor pieces and two pawns -- not enough compensation, in this position, to give the computer much hope.@@@@1@24@@oe@2-2-2013
21272049@unknown@formal@none@1@S@In a hopeless position, the computer resigned rather than make its 37th move.@@@@1@13@@oe@2-2-2013
21272050@unknown@formal@none@1@S@And Mr. Kasparov, to cheers and applause, marched back into the analysis room.@@@@1@13@@oe@2-2-2013
21272051@unknown@formal@none@1@S@"In both games I got exactly what I wanted," he said.@@@@1@11@@oe@2-2-2013
21272052@unknown@formal@none@1@S@What he had demonstrated, he added, is that there's more to chess than sheer calculation.@@@@1@15@@oe@2-2-2013
21272053@unknown@formal@none@1@S@Undeterred, D.T.'s handlers vowed to press on.@@@@1@7@@oe@2-2-2013
21272054@unknown@formal@none@1@S@Indeed, three of them will be building a successor machine for International Business Machines Corp.@@@@1@15@@oe@2-2-2013
21272055@unknown@formal@none@1@S@Promises Feng-hsiung Hsu: "In three years we'll mount a better challenge."@@@@1@11@@oe@2-2-2013
21272056@unknown@formal@none@1@S@Mr. Tannenbaum is a reporter in the Journal's New York bureau.@@@@1@11@@oe@2-2-2013
21273001@unknown@formal@none@1@S@Reaching for that extra bit of yield can be a big mistake -- especially if you don't understand what you're investing in.@@@@1@22@@oe@2-2-2013
21273002@unknown@formal@none@1@S@Just ask Richard Blumenfeld, a New Jersey dentist who considers himself "a reasonably sophisticated investor."@@@@1@15@@oe@2-2-2013
21273003@unknown@formal@none@1@S@In May 1986, Dr. Blumenfeld gave Merrill Lynch & Co. about $40,000 for a federally insured certificate of deposit offering an effective yield of more than 9%.@@@@1@27@@oe@2-2-2013
21273004@unknown@formal@none@1@S@"It was a time when interest rates came down very rapidly," Dr. Blumenfeld recalls.@@@@1@14@@oe@2-2-2013
21273005@unknown@formal@none@1@S@Yields on five-year CDs at major banks were averaging about 7.45%, and 10-year Treasury notes were paying less than 8%.@@@@1@20@@oe@2-2-2013
21273006@unknown@formal@none@1@S@The CD seemed like a great deal.@@@@1@7@@oe@2-2-2013
21273007@unknown@formal@none@1@S@But nearly 3 1/2 years later, Merrill says the investment is worth about $43,000 -- an amount that represents an annual return of just over 2% on Dr. Blumenfeld's $40,000.@@@@1@30@@oe@2-2-2013
21273008@unknown@formal@none@1@S@The problem is that the CD he bought for a retirement plan wasn't a plain vanilla CD.@@@@1@17@@oe@2-2-2013
21273009@unknown@formal@none@1@S@Instead, his Merrill broker put him in a zero-coupon CD, which is sold at a deep discount to its face value.@@@@1@21@@oe@2-2-2013
21273010@unknown@formal@none@1@S@The difference between the price and the face value payable at maturity is the investor's return.@@@@1@16@@oe@2-2-2013
21273011@unknown@formal@none@1@S@More important, the CD was purchased on the secondary, or resale, market.@@@@1@12@@oe@2-2-2013
21273012@unknown@formal@none@1@S@Because the CD had an effective yield of 13.4% when it was issued in 1984, and interest rates in general had declined sharply since then, part of the price Dr. Blumenfeld paid was a premium -- an additional amount on top of the CD's base value plus accrued interest that represented the CD's increased market value.@@@@1@56@@oe@2-2-2013
21273013@unknown@formal@none@1@S@Now the thrift that issued the CD is insolvent, and Dr. Blumenfeld has learned to his surprise that the premium isn't insured under federal deposit insurance.@@@@1@26@@oe@2-2-2013
21273014@unknown@formal@none@1@S@The tip-off came when he opened a recent Merrill Lynch statement and found that the CD's "estimated current market value" had plummeted by $9,000 in a month.@@@@1@27@@oe@2-2-2013
21273015@unknown@formal@none@1@S@Several phone calls and a visit to his broker's office later, the dentist found out that the $9,000 drop represented the current value of the premium he paid when he bought the CD, and that the amount wasn't insured.@@@@1@39@@oe@2-2-2013
21273016@unknown@formal@none@1@S@"This is one thing I was never aware of," he says.@@@@1@11@@oe@2-2-2013
21273017@unknown@formal@none@1@S@He assumed that principal and interest were "fully insured up to $100,000," he adds.@@@@1@14@@oe@2-2-2013
21273018@unknown@formal@none@1@S@Dr. Blumenfeld isn't unique.@@@@1@4@@oe@2-2-2013
21273019@unknown@formal@none@1@S@Especially at times like these, when declining rates make it hard for investors to get yields they have come to expect, too many people chase the promise of above-market returns without fully appreciating the risk.@@@@1@35@@oe@2-2-2013
21273020@unknown@formal@none@1@S@"Yield greed often gets in the way of understanding things," says John Markese, research director of the American Association of Individual Investors, a Chicago-based educational group.@@@@1@26@@oe@2-2-2013
21273021@unknown@formal@none@1@S@"The biggest problem we have is that investors realize, after the fact, that they didn't understand what they were investing in."@@@@1@21@@oe@2-2-2013
21273022@unknown@formal@none@1@S@Dr. Blumenfeld concedes he didn't fully understand what he was buying.@@@@1@11@@oe@2-2-2013
21273023@unknown@formal@none@1@S@He says that he knew he was getting a zero-coupon CD and that he had previously invested in TIGRs (Treasury Income Growth Receipts), a type of zero-coupon Treasury security sold by Merrill Lynch.@@@@1@33@@oe@2-2-2013
21273024@unknown@formal@none@1@S@But he says he didn't understand he was buying the CD on the secondary market, and he contends his broker never fully explained the risks.@@@@1@25@@oe@2-2-2013
21273025@unknown@formal@none@1@S@The broker, Thomas Beairsto of Merrill Lynch's Morristown, N.J., office, refuses to discuss the matter with a reporter, referring inquiries to Merrill Lynch officials in New York.@@@@1@27@@oe@2-2-2013
21273026@unknown@formal@none@1@S@Those officials say there was full disclosure of the risks in a "fact sheet" sent to all CD investors with their confirmation of sale.@@@@1@24@@oe@2-2-2013
21273027@unknown@formal@none@1@S@The fact sheet, dated April 1986, says on page three: "If the price paid for a CD purchased in the secondary market . . . is higher than the accreted value in the case of zero-coupon CDs, the difference . . . is not insured . . . .@@@@1@49@@oe@2-2-2013
21273028@unknown@formal@none@1@S@Computations involving zero-coupon CDs are more complicated and you should discuss any questions you may have with your financial consultant."@@@@1@20@@oe@2-2-2013
21273029@unknown@formal@none@1@S@Dr. Blumenfeld says he doesn't remember the paragraph about premiums in the fact sheet he received and didn't realize part of what he paid was a premium.@@@@1@27@@oe@2-2-2013
21273030@unknown@formal@none@1@S@"I assumed I was buying a CD as a CD," he says.@@@@1@12@@oe@2-2-2013
21273031@unknown@formal@none@1@S@Nevertheless, Merrill Lynch has agreed that if the thrift that issued Dr. Blumenfeld's CD, Peoples Heritage Federal Savings & Loan Association in Salina, Kan., is liquidated and the CD terminated, the brokerage firm would cover the premium Dr. Blumenfeld paid.@@@@1@40@@oe@2-2-2013
21273032@unknown@formal@none@1@S@(Federal deposit insurance would pay principal and interest accrued to the date of liquidation, to a maximum of $100,000.)@@@@1@19@@oe@2-2-2013
21273033@unknown@formal@none@1@S@"It's not a blanket commitment, it's a case-by-case situation," says Albert Disposti, a managing director of Merrill Lynch Money Markets Inc.@@@@1@21@@oe@2-2-2013
21273034@unknown@formal@none@1@S@"There's a question whether brokers at the time were fully aware" of the risks.@@@@1@14@@oe@2-2-2013
21273035@unknown@formal@none@1@S@"We weren't sure that full disclosure, as we wanted it, was being made."@@@@1@13@@oe@2-2-2013
21273036@unknown@formal@none@1@S@Merrill Lynch says it's impossible to estimate how many investors are in Dr. Blumenfeld's situation, although it says the firm has received only one other complaint about premiums on the secondary market in three years.@@@@1@35@@oe@2-2-2013
21273037@unknown@formal@none@1@S@Merrill Lynch now provides credit rating information about the institutions whose CDs it sells, which it didn't provide in 1986.@@@@1@20@@oe@2-2-2013
21273038@unknown@formal@none@1@S@Zero-coupon CDs are only a small portion of the $1 trillion-plus in CDs outstanding, and those purchased on the secondary market are an even smaller part of the total.@@@@1@29@@oe@2-2-2013
21273039@unknown@formal@none@1@S@Merrill Lynch estimates that fewer than 10 financial institutions currently issue zero-coupon CDs.@@@@1@13@@oe@2-2-2013
21273040@unknown@formal@none@1@S@Still, there are several billion dollars of zero-coupon CDs with various maturities outstanding.@@@@1@13@@oe@2-2-2013
21273041@unknown@formal@none@1@S@Because of the tax consequences of zero-coupon investments -- income tax is payable in the year interest is accrued, although interest isn't actually paid until maturity -- zero-coupon CDs are usually sold for tax-advantaged accounts to finance things like retirement and children's education.@@@@1@43@@oe@2-2-2013
21273042@unknown@formal@none@1@S@Most zero-coupon CDs are in maturities of six to nine years, and they usually double in value by maturity.@@@@1@19@@oe@2-2-2013
21273043@unknown@formal@none@1@S@But investors who bought zero-coupon CDs in the secondary market aren't the only ones who may be surprised to learn the full amount of their investments isn't insured.@@@@1@28@@oe@2-2-2013
21273044@unknown@formal@none@1@S@People who paid a premium for standard CDs purchased on the secondary market could also find that those premiums aren't insured if the institutions that issued the CDs failed.@@@@1@29@@oe@2-2-2013
21273045@unknown@formal@none@1@S@However, those premiums are usually far smaller than on zero-coupon CDs, and the simpler pricing structure of a standard CD makes it more apparent when a premium is paid.@@@@1@29@@oe@2-2-2013
21273046@unknown@formal@none@1@S@Whatever the case, a Merrill Lynch spokesman emphasizes, investors shouldn't have to worry about the uninsured premium issue, unless the bank or thrift that issued the CD is closed and its deposits paid off before maturity or transferred to another institution at a lower rate.@@@@1@45@@oe@2-2-2013
21273047@unknown@formal@none@1@S@Dr. Blumenfeld says he's satisfied that his problem has been resolved.@@@@1@11@@oe@2-2-2013
21273048@unknown@formal@none@1@S@And he says he's learned a lesson: "You always have to watch out for yourself.@@@@1@15@@oe@2-2-2013
21273049@unknown@formal@none@1@S@No one else will watch out for you.@@@@1@8@@oe@2-2-2013
21274001@unknown@formal@none@1@S@Americans are drinking less, but young professionals from Australia to West Germany are rushing to buy premium-brand American vodka, brandy and other spirits.@@@@1@23@@oe@2-2-2013
21274002@unknown@formal@none@1@S@In particular, many are snubbing the scotch preferred by their parents and opting for bourbon, the sweet firewater from the Kentucky countryside.@@@@1@22@@oe@2-2-2013
21274003@unknown@formal@none@1@S@With U.S. liquor consumption declining steadily, many American producers are stepping up their marketing efforts abroad.@@@@1@16@@oe@2-2-2013
21274004@unknown@formal@none@1@S@And those efforts are paying off: Spirits exports jumped more than 2 1/2 times to $157.2 million in 1988 from $59.8 million in 1983, according to the Distilled Spirits Council of the U.S., a trade group.@@@@1@36@@oe@2-2-2013
21274005@unknown@formal@none@1@S@"Spirits companies now view themselves as global marketers," says Michael Bellas, president of Beverage Marketing Corp., a research and consulting firm.@@@@1@21@@oe@2-2-2013
21274006@unknown@formal@none@1@S@"If you want to be a player, you have to be in America, Europe and the Far East.@@@@1@18@@oe@2-2-2013
21274007@unknown@formal@none@1@S@You must have world-class brands, a long-term perspective and deep pockets."@@@@1@11@@oe@2-2-2013
21274008@unknown@formal@none@1@S@The internationalization of the industry has been hastened by foreign companies' acquisitions of many U.S. producers.@@@@1@16@@oe@2-2-2013
21274009@unknown@formal@none@1@S@In recent years, for example, Grand Metropolitan PLC of Britain acquired Heublein Inc., while another British company, Guinness PLC, took over United Distillers Group and Schenley Industries Inc.@@@@1@28@@oe@2-2-2013
21274010@unknown@formal@none@1@S@But the shift has also been fueled by necessity.@@@@1@9@@oe@2-2-2013
21274011@unknown@formal@none@1@S@While premium-brand spirits like Smirnoff vodka and Jack Daniel's whiskey are riding high in the U.S., domestic spirits consumption fell 15% to 141.1 million cases in 1988 from 166 million cases in 1979.@@@@1@33@@oe@2-2-2013
21274012@unknown@formal@none@1@S@In recent years, growth has come in the foreign markets.@@@@1@10@@oe@2-2-2013
21274013@unknown@formal@none@1@S@U.S. brandy exports more than doubled last year to 360,000 proof gallons, a standard industry measure, according to Jobson Beverage Alcohol Group, an industry association.@@@@1@25@@oe@2-2-2013
21274014@unknown@formal@none@1@S@Exports of rum surged 54% to 814,000 proof gallons.@@@@1@9@@oe@2-2-2013
21274015@unknown@formal@none@1@S@Mexico is the biggest importer of both rum and brandy from the U.S.@@@@1@13@@oe@2-2-2013
21274016@unknown@formal@none@1@S@Japan, the world's third-largest liquor market after the U.S. and Britain, helped American companies in April when it lowered its tax on imported spirits and levied a tax on many domestic products.@@@@1@32@@oe@2-2-2013
21274017@unknown@formal@none@1@S@California wineries, benefiting from lowered trade barriers and federal marketing subsidies, are expanding aggressively into Japan, as well as Canada and Great Britain.@@@@1@23@@oe@2-2-2013
21274018@unknown@formal@none@1@S@In Japan, the wineries are promoting their products' Pacific roots and courting restaurant and hotel chefs, whose recommendations carry weight.@@@@1@20@@oe@2-2-2013
21274019@unknown@formal@none@1@S@In Australia, Britain, Canada and Greece, Brown-Forman Corp. has increased its marketing of Southern Comfort Liqueur.@@@@1@16@@oe@2-2-2013
21274020@unknown@formal@none@1@S@Using cinema, television and print ads, the company pitches Southern Comfort as a grand old drink of the antebellum American South.@@@@1@21@@oe@2-2-2013
21274021@unknown@formal@none@1@S@The biggest foreign inroads, though, have been made by bourbon.@@@@1@10@@oe@2-2-2013
21274022@unknown@formal@none@1@S@While U.S. makers of vodka, rum and other spirits compete against powerhouses abroad, trade agreements prohibit any other country from making bourbon.@@@@1@22@@oe@2-2-2013
21274023@unknown@formal@none@1@S@(All bourbon comes from Kentucky, though Jack Daniel's Tennessee whiskey often is counted as bourbon because of similarity of taste.)@@@@1@20@@oe@2-2-2013
21274024@unknown@formal@none@1@S@Moreover, just as vodka has acquired an upscale image in the U.S., bourbon has become fashionable in many foreign countries, a uniquely American product tied to frontier folklore.@@@@1@28@@oe@2-2-2013
21274025@unknown@formal@none@1@S@How was the West won?@@@@1@5@@oe@2-2-2013
21274026@unknown@formal@none@1@S@With a six-shooter in one hand and bourbon in the other.@@@@1@11@@oe@2-2-2013
21274027@unknown@formal@none@1@S@"We imagine with bourbon the Wild West, Western motion pictures and gunmen appearing," says Kenji Kishimoto, vice president of Suntory International Corp., a division of Suntory Ltd., Japan's largest liquor company.@@@@1@31@@oe@2-2-2013
21274028@unknown@formal@none@1@S@Suntory distributes Brown-Forman bourbons in Japan.@@@@1@6@@oe@2-2-2013
21274029@unknown@formal@none@1@S@Bourbon makes up just 1% of world-wide spirits consumption, but it represented 57% of U.S. liquor exports last year, according to Jobson; no other category had more than 19%.@@@@1@29@@oe@2-2-2013
21274030@unknown@formal@none@1@S@Big U.S. distillers are fiercely vying for this market, which grew to $77 million last year from $33 million in 1987, according to government figures.@@@@1@25@@oe@2-2-2013
21274031@unknown@formal@none@1@S@Jim Beam Brands Co., a division of American Brands Inc., is the leading exporter of bourbon and produces 10 other types of liquor.@@@@1@23@@oe@2-2-2013
21274032@unknown@formal@none@1@S@The company says it will increase its international advertising 35% in 1990, with bourbon representing most of that amount.@@@@1@19@@oe@2-2-2013
21274033@unknown@formal@none@1@S@Guinness's Schenley Industries unit has increased its TV advertising in Japan and has built partnerships with duty-free shops throughout Asia, enabling it to install prominent counter displays.@@@@1@27@@oe@2-2-2013
21274034@unknown@formal@none@1@S@The company's I.W. Harper brand is the leading bourbon in Japan, with 40% of the market.@@@@1@16@@oe@2-2-2013
21274035@unknown@formal@none@1@S@Bourbon exporters have succeeded in Japan where other industries have failed, avoiding cultural hitches in marketing and distribution by allying themselves with local agents.@@@@1@24@@oe@2-2-2013
21274036@unknown@formal@none@1@S@Jim Beam Brands has a distribution partnership with Nikka Whiskey Co., a distiller.@@@@1@13@@oe@2-2-2013
21274037@unknown@formal@none@1@S@Seagram Co., which exports Four Roses bourbon, has such a link with Kirin Brewery Co.@@@@1@15@@oe@2-2-2013
21274038@unknown@formal@none@1@S@Some bourbon makers advertise abroad as they do at home.@@@@1@10@@oe@2-2-2013
21274039@unknown@formal@none@1@S@To promote Jack Daniel's overseas, Brown-Forman uses the same photos of front porches from Lynchburg, Va., and avuncular old men in overalls and hightops.@@@@1@24@@oe@2-2-2013
21274040@unknown@formal@none@1@S@Jim Beam print ads, however, strike different chords in different countries.@@@@1@11@@oe@2-2-2013
21274041@unknown@formal@none@1@S@In Australia, land of the outback, a snapshot of Jim Beam lies on a strip of hand-tooled leather.@@@@1@18@@oe@2-2-2013
21274042@unknown@formal@none@1@S@West Germans get glitz, with bourbon in the foreground and a posh Beverly Hills hotel in the background.@@@@1@18@@oe@2-2-2013
21274043@unknown@formal@none@1@S@Ads for England are artsy and irreverent.@@@@1@7@@oe@2-2-2013
21274044@unknown@formal@none@1@S@One ad features a huge robot carrying a voluptuous woman in a faint.@@@@1@13@@oe@2-2-2013
21274045@unknown@formal@none@1@S@The tagline: "I only asked if she wanted a Jim Beam.@@@@1@11@@oe@2-2-2013
21275001@unknown@formal@none@1@S@Capital Cities/ABC Inc.'s net income rose 29% on a modest 9% increase in revenue in the third quarter, mainly on strong advertising demand at its ABC television network operation.@@@@1@29@@oe@2-2-2013
21275002@unknown@formal@none@1@S@Demand for ads also rose at the eight TV stations Capital Cities owns and at its 80%-owned ESPN sports cable channel.@@@@1@21@@oe@2-2-2013
21275003@unknown@formal@none@1@S@The broadcast and publishing company reported net climbed to $80.8 million, or $4.56 a share, from $62.6 million, or $3.55 a share, in the year-earlier period.@@@@1@26@@oe@2-2-2013
21275004@unknown@formal@none@1@S@Revenue reached $1.1 billion from $1.01 billion.@@@@1@7@@oe@2-2-2013
21275005@unknown@formal@none@1@S@In New York Stock Exchange composite trading yesterday, Capital Cities closed at $558.50, down $5.@@@@1@15@@oe@2-2-2013
21275006@unknown@formal@none@1@S@The broadcasting unit reported operating profit of $134.9 million, up 18% from the year-earlier $114.3 million.@@@@1@16@@oe@2-2-2013
21275007@unknown@formal@none@1@S@Publishing reported operating profit was $33.3 million, nearly flat with the year-before $33 million.@@@@1@14@@oe@2-2-2013
21275008@unknown@formal@none@1@S@Revenue at the broadcasting unit, consisting of the network and stations, advanced 11%, to $838 million from $752.9 million.@@@@1@19@@oe@2-2-2013
21275009@unknown@formal@none@1@S@The publishing unit reported revenue edged up 2.6% to $263.2 million from $256.6 million.@@@@1@14@@oe@2-2-2013
21275010@unknown@formal@none@1@S@Chairman Thomas S. Murphy cited Capital Cities' nine daily newspapers in explaining most of the gain.@@@@1@16@@oe@2-2-2013
21275011@unknown@formal@none@1@S@The parent also publishes weeklies, shopping guides and specialty magazines.@@@@1@10@@oe@2-2-2013
21275012@unknown@formal@none@1@S@For 1989's first nine months, Capital Cities net income grew 23% to $303.7 million, or $16.97 a share, from $246.9 million, or $14.43 a share.@@@@1@25@@oe@2-2-2013
21275013@unknown@formal@none@1@S@Revenue eased 0.3% to $3.45 billion from $3.46 billion.@@@@1@9@@oe@2-2-2013
21275014@unknown@formal@none@1@S@Last week, ABC unseated General Electric Co.'s National Broadcasting Co. unit as the No. 1 network, as rated by A.C. Nielsen Co.@@@@1@22@@oe@2-2-2013
21275015@unknown@formal@none@1@S@ABC has four shows in the top 10, including the top show, "Roseanne.@@@@1@13@@oe@2-2-2013
21276001@unknown@formal@none@1@S@As part of a previously announced transaction, Federal Mogul Corp. has bought approximately 565,000 shares of its common stock from Nortek Inc. at $23.50 a share.@@@@1@26@@oe@2-2-2013
21276002@unknown@formal@none@1@S@Nortek has agreed not to acquire any securities of Federal-Mogul for 10 years and not to influence company affairs during that period.@@@@1@22@@oe@2-2-2013
21277001@unknown@formal@none@1@S@Weyerhaeuser Co. said it sold its wall-paneling business to an affiliate of one of Indonesia's largest wood-products firms.@@@@1@18@@oe@2-2-2013
21277002@unknown@formal@none@1@S@Terms of the transaction weren't disclosed.@@@@1@6@@oe@2-2-2013
21277003@unknown@formal@none@1@S@Weyerhaeuser said its paneling business employs about 300 workers at two facilities in Chesapeake, Va., and Hancock, Vt.@@@@1@18@@oe@2-2-2013
21278001@unknown@formal@none@1@S@Manville Corp. said it will build a $24 million power plant to provide electricity to its Igaras pulp and paper mill in Brazil.@@@@1@23@@oe@2-2-2013
21278002@unknown@formal@none@1@S@The company said the plant will ensure that it has adequate energy for the mill and will reduce the mill's energy costs.@@@@1@22@@oe@2-2-2013
21278003@unknown@formal@none@1@S@Manville said it expects the plant to begin operating at the end of 1991.@@@@1@14@@oe@2-2-2013
21279001@unknown@formal@none@1@S@Housing and Urban Development Secretary Jack Kemp called on the Federal Reserve System to lower interest rates.@@@@1@17@@oe@2-2-2013
21279002@unknown@formal@none@1@S@In a speech to the Mortgage Bankers Association, Mr. Kemp broke the administration's public silence on the Fed and complained that "interest rates are too high."@@@@1@26@@oe@2-2-2013
21279003@unknown@formal@none@1@S@"I am convinced that a monetary policy for this country that would return interest rates to the historical level of 4% or 5% would have not only an immediate impact on housing starts, the housing stock, our industry in America, the refurbishing of our industrial system, it would help the Third World economies considerably and it would particularly have a favorable impact upon our budget deficit," Mr. Kemp said.@@@@1@69@@oe@2-2-2013
21279004@unknown@formal@none@1@S@The Fed recently eased credit by lowering the bellwether federal funds interest rate to 8 3/4% from about 9%.@@@@1@19@@oe@2-2-2013
21279005@unknown@formal@none@1@S@Bush administration officials say inflation is under control.@@@@1@8@@oe@2-2-2013
21279006@unknown@formal@none@1@S@With economic growth slowing, they say they believe the Fed should ease credit even further.@@@@1@15@@oe@2-2-2013
21279007@unknown@formal@none@1@S@But for the most part, officials have avoided expressing those views in public, fearing they would unnecessarily antagonize the Fed.@@@@1@20@@oe@2-2-2013
21280001@unknown@formal@none@1@S@McDonald's Corp. said third-quarter earnings rose 14% on a hefty sales gain, but domestic franchisees apparently didn't partake of the improvement.@@@@1@21@@oe@2-2-2013
21280002@unknown@formal@none@1@S@The world's largest fast-food chain said net income rose to $217.9 million, or 59 cents a share, from $191.3 million, or 51 cents a share, a year ago.@@@@1@28@@oe@2-2-2013
21280003@unknown@formal@none@1@S@In the latest period, the company had an average of 370.8 million shares, 5.6 million shares below last year's level.@@@@1@20@@oe@2-2-2013
21280004@unknown@formal@none@1@S@Revenue rose 12% to $1.63 billion from $1.46 billion.@@@@1@9@@oe@2-2-2013
21280005@unknown@formal@none@1@S@Systemwide sales, which include sales at franchisee as well as company-owned stores, totaled $4.59 billion compared with $4.2 billion.@@@@1@19@@oe@2-2-2013
21280006@unknown@formal@none@1@S@But sales for U.S. franchisees were flat at best on a per-store basis despite weak 1988 figures.@@@@1@17@@oe@2-2-2013
21280007@unknown@formal@none@1@S@Compared with the first nine months of last year, average franchisee store sales this year were down nearly $3,200, reflecting a fierce discounting war among fast-food chains.@@@@1@27@@oe@2-2-2013
21280008@unknown@formal@none@1@S@Since McDonald's menu prices rose this year, the actual decline may have been more.@@@@1@14@@oe@2-2-2013
21280009@unknown@formal@none@1@S@McDonald's closed at $31.375, up $1, in New York Stock Exchange composite trading yesterday.@@@@1@14@@oe@2-2-2013
21280010@unknown@formal@none@1@S@While franchisees were having a tough time holding sales, McDonald's company-operated stores posted hefty gains for the nine months, with sales per company-operated unit rising $20,000.@@@@1@26@@oe@2-2-2013
21280011@unknown@formal@none@1@S@One analyst noted that the company often has better store locations than do its franchisees, thus aiding promotional efforts.@@@@1@19@@oe@2-2-2013
21280012@unknown@formal@none@1@S@On average in the latest nine months, company-operated units in the U.S. had $90,552 more in sales than did franchised outlets.@@@@1@21@@oe@2-2-2013
21280013@unknown@formal@none@1@S@There are more than three times as many franchised domestic outlets as there are company stores.@@@@1@16@@oe@2-2-2013
21280014@unknown@formal@none@1@S@Profit margins at U.S. company-owned stores in the quarter were up nearly 1%, which the company attributed in part to lower food costs.@@@@1@23@@oe@2-2-2013
21280015@unknown@formal@none@1@S@Prudential-Bache Securities analyst Leslie Steppel said reduced labor costs helped boost margins, although she doubted "that kind of performance is sustainable."@@@@1@21@@oe@2-2-2013
21280016@unknown@formal@none@1@S@Calling sales "still relatively soft," Ms. Steppel believes that in real terms, U.S. sales slipped 3 1/2% to 4% at company-operated stores in the quarter.@@@@1@25@@oe@2-2-2013
21280017@unknown@formal@none@1@S@Apparently acknowledging weaker U.S. sales systemwide, McDonald's vowed "to use our size and muscle to do all that is necessary to build the brand."@@@@1@24@@oe@2-2-2013
21280018@unknown@formal@none@1@S@Overseas, both franchisees and the company performed substantially better than a year ago.@@@@1@13@@oe@2-2-2013
21280019@unknown@formal@none@1@S@Third-quarter sales in Europe were exceptionally strong, boosted by promotional programs and new products -- although weaker foreign currencies reduced the company's earnings.@@@@1@23@@oe@2-2-2013
21280020@unknown@formal@none@1@S@McDonald's said that systemwide sales would have been $115 million greater had 1988 exchange rates remained in effect.@@@@1@18@@oe@2-2-2013
21280021@unknown@formal@none@1@S@"Going into the fourth quarter the sales comparison will be more difficult," predicted restaurant analyst Howard Hansen of Kidder, Peabody & Co.@@@@1@22@@oe@2-2-2013
21280022@unknown@formal@none@1@S@Reflecting better growth prospects abroad, McDonald's noted that as of Sept. 30 more stores were under construction overseas than a year ago, while the opposite was true for domestic expansion.@@@@1@30@@oe@2-2-2013
21280023@unknown@formal@none@1@S@At the end of the third quarter McDonald's had 10,873 units operating world-wide.@@@@1@13@@oe@2-2-2013
21280024@unknown@formal@none@1@S@In the nine months, earnings rose 12% to $555.6 million, or $1.49 a share, from $494.4 million, or $1.31 a share, a year earlier.@@@@1@24@@oe@2-2-2013
21280025@unknown@formal@none@1@S@Revenue rose 11% to $4.56 billion from $4.12 billion.@@@@1@9@@oe@2-2-2013
21281001@unknown@formal@none@1@S@Carnival Cruise Lines Inc.'s common stock was dragged down yesterday amid concerns that a bankruptcy filing by a Finnish shipbuilder would delay delivery of three big cruise ships.@@@@1@28@@oe@2-2-2013
21281002@unknown@formal@none@1@S@The Miami-based company's stock fell $1.75 yesterday to $20.75 a share in heavy American Stock Exchange composite trading.@@@@1@18@@oe@2-2-2013
21281003@unknown@formal@none@1@S@Early yesterday, Carnival said in a company statement that it had been "notified unofficially" that Waertsilae Marine Industries, the Finnish shipyard that is building its three new cruise ships, planned to file for bankruptcy.@@@@1@34@@oe@2-2-2013
21281004@unknown@formal@none@1@S@Officials at Carnival declined to comment.@@@@1@6@@oe@2-2-2013
21281005@unknown@formal@none@1@S@"There is just a tremendous amount of uncertainty about what the effect, if any, of all this is," said John P. Uphoff, an analyst at Raymond James Associates Inc.@@@@1@29@@oe@2-2-2013
21281006@unknown@formal@none@1@S@"I didn't even know that a company in a socialistic country could file for bankruptcy."@@@@1@15@@oe@2-2-2013
21281007@unknown@formal@none@1@S@Carnival said the "Fantasy," the first of the three $200 million ships that Carnival has on order, is scheduled to be delivered next month, just in time for the winter tourist season in the Caribbean.@@@@1@35@@oe@2-2-2013
21281008@unknown@formal@none@1@S@That ship, which would carry about 2,050 passengers, would expand the capacity of Carnival's existing 14-ship fleet by 24%.@@@@1@19@@oe@2-2-2013
21281009@unknown@formal@none@1@S@The second ship, which is half-completed, is scheduled to be delivered in fall 1990, and the third in fall 1991.@@@@1@20@@oe@2-2-2013
21281010@unknown@formal@none@1@S@"There's a 99% chance that the Fantasy will be delivered close to schedule," said Caroline Levy, an analyst at Shearson Lehman Hutton Inc.@@@@1@23@@oe@2-2-2013
21281011@unknown@formal@none@1@S@"The others will probably be delivered as well, but Carnival will likely have to pay a higher price for them."@@@@1@20@@oe@2-2-2013
21281012@unknown@formal@none@1@S@She said the company could pay as much as 25% more for the ships.@@@@1@14@@oe@2-2-2013
21281013@unknown@formal@none@1@S@If the ships aren't delivered, however, it will likely have an effect on the company's earnings as soon as the 1990 fiscal year, which begins Dec. 1.@@@@1@27@@oe@2-2-2013
21281014@unknown@formal@none@1@S@Analysts said those estimates -- which range from about $1.80 a share to $1.95 a share -- are based on Fantasy being in operation in 1990.@@@@1@26@@oe@2-2-2013
21281015@unknown@formal@none@1@S@If the ship fails to arrive, those per-share earnings estimates could be trimmed 15 cents or more.@@@@1@17@@oe@2-2-2013
21281016@unknown@formal@none@1@S@Analysts weren't willing to speculate on how much money Carnival might lose through deposits.@@@@1@14@@oe@2-2-2013
21281017@unknown@formal@none@1@S@Normally, a company pays a portion of the total cost of a ship as it reaches various stages of construction.@@@@1@20@@oe@2-2-2013
21281018@unknown@formal@none@1@S@Carnival, for example, has already paid about $160 million of the total cost for Fantasy.@@@@1@15@@oe@2-2-2013
21281019@unknown@formal@none@1@S@Some analysts say this may give it the right to seize the ship if the situation warrants it.@@@@1@18@@oe@2-2-2013
21281020@unknown@formal@none@1@S@According to reports from Finland, Waertsilae Marine, 19%-owned by conglomerate Oy Waertsilae, filed for bankruptcy yesterday after the shipyard's contractors had started to demand bank guarantees.@@@@1@26@@oe@2-2-2013
21281021@unknown@formal@none@1@S@The shipyard disclosed in mid-August that it expected losses stemming from a series of unprofitable orders.@@@@1@16@@oe@2-2-2013
21282001@unknown@formal@none@1@S@Designer Sandra Garratt filed for Chapter 7 Bankruptcy Code protection, saying that her cash flow had been cut off.@@@@1@19@@oe@2-2-2013
21282002@unknown@formal@none@1@S@The designer, whose line of modular, one-size-fits-all clothing has spawned a host of clones, has been in a dispute with her latest licensee, Jerell Inc. for several months.@@@@1@28@@oe@2-2-2013
21282003@unknown@formal@none@1@S@Ms. Garratt was the subject of a Wall Street Journal article in March.@@@@1@13@@oe@2-2-2013
21282004@unknown@formal@none@1@S@The designer's attorney, Molly Bartholow, said that Ms. Garratt was forced to start bankruptcy-law proceedings because Jerell began withholding her royalty payments last month.@@@@1@24@@oe@2-2-2013
21282005@unknown@formal@none@1@S@Jerell paid Ms. Garratt royalties for the line known as Multiples by Sandra Garratt, which are sold primarily through department stores.@@@@1@21@@oe@2-2-2013
21282006@unknown@formal@none@1@S@Ms. Garratt sued the Dallas apparel maker earlier this year, charging that Jerell developed and marketed clothing lines fashioned after her designs, in violation of their contract.@@@@1@27@@oe@2-2-2013
21282007@unknown@formal@none@1@S@That lawsuit is still pending.@@@@1@5@@oe@2-2-2013
21282008@unknown@formal@none@1@S@Jerell couldn't immediately be reached for comment.@@@@1@7@@oe@2-2-2013
21282009@unknown@formal@none@1@S@Ms. Garratt's assets and liabilities weren't disclosed.@@@@1@7@@oe@2-2-2013
21283001@unknown@formal@none@1@S@Eaton Corp. had a 26% drop in third-quarter profit mainly because of lower sales of truck parts, its largest and most profitable single business.@@@@1@24@@oe@2-2-2013
21283002@unknown@formal@none@1@S@Sales of medium and heavy-duty trucks continue to lag previous-year rates, leading Eaton to expect fourth-quarter net income to fall below year-earlier levels, said Stephen R. Hardis, vice chairman and chief financial and administrative officer.@@@@1@35@@oe@2-2-2013
21283003@unknown@formal@none@1@S@He declined to make a specific earnings estimate.@@@@1@8@@oe@2-2-2013
21283004@unknown@formal@none@1@S@Third-quarter net was $40 million, or $1.04 a share, from $54.4 million, or $1.47 a share, a year ago.@@@@1@19@@oe@2-2-2013
21283005@unknown@formal@none@1@S@Sales rose 2.8% to $864.1 million, from $840.4 million.@@@@1@9@@oe@2-2-2013
21283006@unknown@formal@none@1@S@The quarter net was below analyst expectations mainly because truck-parts sales didn't rebound in September from the summer doldrums as they usually do, said Patrick E. Sheridan, analyst with McDonald & Co.@@@@1@32@@oe@2-2-2013
21283007@unknown@formal@none@1@S@Mr. Sheridan, who had been expecting quarter profit of about $1.25 a share, says he is reducing his estimate for the year to the area of $5.70 a share, from his previous estimate of $6.10.@@@@1@35@@oe@2-2-2013
21283008@unknown@formal@none@1@S@Eli Lustgarten of PaineWebber Inc., who a couple of weeks ago reduced his 1989 estimate to $5.70 a share because of the weakening truck market, says he will make another cut to about $5.50 a share in light of the third-quarter report.@@@@1@42@@oe@2-2-2013
21283009@unknown@formal@none@1@S@He said Eaton's quarter profit margin on controls was lower than he anticipated.@@@@1@13@@oe@2-2-2013
21283010@unknown@formal@none@1@S@Eaton said sales of truck axles, transmissions and other parts fell 7.2% to $295 million.@@@@1@15@@oe@2-2-2013
21283011@unknown@formal@none@1@S@Sales of parts for cars and construction vehicles rose.@@@@1@9@@oe@2-2-2013
21283012@unknown@formal@none@1@S@Eaton doesn't provide profit figures separately for each category, but operating profit for vehicle parts as a group fell 26% to $51 million on an about 1% drop in sales to $488 million.@@@@1@33@@oe@2-2-2013
21283013@unknown@formal@none@1@S@Mr. Hardis said truck-fleet operators appear to be cautious about buying new trucks until they see how the economy behaves.@@@@1@20@@oe@2-2-2013
21283014@unknown@formal@none@1@S@The truck sales slowdown reflects the general slowing in sales of consumer goods, he said, and the latest reports show a slight improvement rather than any indication of a downward spiral.@@@@1@31@@oe@2-2-2013
21283015@unknown@formal@none@1@S@Operating profit from electrical and electronics controls, Eaton's other major business group, fell 11% to $32 million, despite a 7.7% increase in sales to $376 million.@@@@1@26@@oe@2-2-2013
21283016@unknown@formal@none@1@S@The company attributed the decline to weakness in the commercial-switch market in North America and in the European appliance-controls market.@@@@1@20@@oe@2-2-2013
21283017@unknown@formal@none@1@S@For the nine months, net -- including profit from discontinued operations both years and in 1988 an extraordinary charge of $17.7 million related to settlement of a lawsuit -- was $170.6 million, or $4.54 a share, up 5.8% from $161.3 million, or $4.32 a share, a year ago.@@@@1@48@@oe@2-2-2013
21283018@unknown@formal@none@1@S@Eaton earned from continuing operations $165.1 million, or $4.40 a share, down 7% from $177.5 million, or $4.76 a share, a year earlier.@@@@1@23@@oe@2-2-2013
21283019@unknown@formal@none@1@S@Nine-month sales were $2.79 billion, up 8.2% from $2.58 billion a year earlier.@@@@1@13@@oe@2-2-2013
21283020@unknown@formal@none@1@S@In New York Stock Exchange composite trading, Eaton closed at $57.50 a share, down $2.50.@@@@1@15@@oe@2-2-2013
21284001@unknown@formal@none@1@S@In Poland's rapid shift from socialism to an undefined alternative, environmental issues have become a cutting edge of broader movements to restructure the economy, cut cumbersome bureaucracies, and democratize local politics.@@@@1@31@@oe@2-2-2013
21284002@unknown@formal@none@1@S@Initial steps were taken at Poland's first international environmental conference, which I attended last month.@@@@1@15@@oe@2-2-2013
21284003@unknown@formal@none@1@S@The conference, held in Lower Silesia, was co-sponsored by the Environment Ministry, the Rockefeller Brothers Fund, and the Polish Ecological Club, and was attended by 50 Poles from government and industry, as well as Hungarians, Czechs, Russians, Japanese and Americans.@@@@1@40@@oe@2-2-2013
21284004@unknown@formal@none@1@S@The conference was entitled "Economic Mechanisms for Environmental Protection," a significant departure from East Bloc usage, which recognizes only one economic mechanism -- central planning -- to direct industrial behavior.@@@@1@30@@oe@2-2-2013
21284005@unknown@formal@none@1@S@Even more remarkably, it focused on emissions trading and similar market approaches to address pollution, notwithstanding Poland's lack of functioning markets.@@@@1@21@@oe@2-2-2013
21284006@unknown@formal@none@1@S@Why did East Bloc participants unanimously endorse market-based pollution approaches?@@@@1@10@@oe@2-2-2013
21284007@unknown@formal@none@1@S@The answer lies both in the degraded environment of these countries and the perceived causes of that degradation.@@@@1@18@@oe@2-2-2013
21284008@unknown@formal@none@1@S@Like other East Bloc countries, Poland possesses environmental laws more honored in their breach than in their observance.@@@@1@18@@oe@2-2-2013
21284009@unknown@formal@none@1@S@According to a detailed report by Zbigniew Bochniarz of the University of Minnesota's Hubert Humphrey Institute, 27 areas containing a third of Poland's population are regarded as "ecological hazards" due to multiple violations of standards.@@@@1@35@@oe@2-2-2013
21284010@unknown@formal@none@1@S@Norms are consistently exceeded at 60% of nitrogen oxide monitoring sites and 80% of those for dust and soot emissions.@@@@1@20@@oe@2-2-2013
21284011@unknown@formal@none@1@S@Four-fifths of Poland's soils have become highly acidified; 70% of its southern forests are projected to die by century's end.@@@@1@20@@oe@2-2-2013
21284012@unknown@formal@none@1@S@Between 1965 and 1985, Polish waters fit for human consumption dropped from 33% to 6% of all surface waters, while those unfit even for industry use nearly doubled.@@@@1@28@@oe@2-2-2013
21284013@unknown@formal@none@1@S@Poland produces about 20 times more soot and five times more sulfur dioxide and solid waste per unit of gross national product than does Western Europe.@@@@1@26@@oe@2-2-2013
21284014@unknown@formal@none@1@S@Its mortality rate for males over 35 is about 50% higher than West Germany's, and 50% higher in hazard areas than the national average.@@@@1@24@@oe@2-2-2013
21284015@unknown@formal@none@1@S@Since 1978, average annual growth rates for most pollutants have outstripped the growth of GNP.@@@@1@15@@oe@2-2-2013
21284016@unknown@formal@none@1@S@Conference participants saw these effects as flowing directly from (a) Marxist devaluation of environmental resources, which are not produced by labor; (b) planned economies' inability to control pollution where enterprises are state-owned and penalties are paid by the government; and (c) the continuing Stalinist emphasis on heavy industry for economic development, producing a far heavier and more wasteful use of energy and natural resources than in the West.@@@@1@68@@oe@2-2-2013
21284017@unknown@formal@none@1@S@They repeatedly noted that environmental progress could not be secured without true ownership, genuine competition based on market factors, and the risk of bankruptcy if a business makes the wrong decisions.@@@@1@31@@oe@2-2-2013
21284018@unknown@formal@none@1@S@The solutions they formally proposed included lead/sulfur taxes, conservation and recycling incentives, reforestation offsets, transferable pollution permits, an ecological bank to finance pollution-reduction credits, and debt-for-environment swaps.@@@@1@27@@oe@2-2-2013
21284019@unknown@formal@none@1@S@But their most fundamental recommendation was to separate industry from the state, making it fully accountable for pollution control.@@@@1@19@@oe@2-2-2013
21284020@unknown@formal@none@1@S@A revolution takes more than conference manifestos.@@@@1@7@@oe@2-2-2013
21284021@unknown@formal@none@1@S@Indeed, skepticism was amply captured by a joke told by Poles at the conference: "The world must be coming to an end.@@@@1@22@@oe@2-2-2013
21284022@unknown@formal@none@1@S@The Russians are talking peace.@@@@1@5@@oe@2-2-2013
21284023@unknown@formal@none@1@S@The Palestinians are talking elections.@@@@1@5@@oe@2-2-2013
21284024@unknown@formal@none@1@S@And the Poles are engaged in commerce."@@@@1@7@@oe@2-2-2013
21284025@unknown@formal@none@1@S@But the implications of such a shift to market approaches go well beyond the fact that Poland is already working on nationwide emissions trades to reduce smelter pollution, or that the Soviets plan to introduce marketable pollution permits in some republics next year.@@@@1@43@@oe@2-2-2013
21284026@unknown@formal@none@1@S@Those implications include: -- Privatization.@@@@1@5@@oe@2-2-2013
21284027@unknown@formal@none@1@S@Faced with a $40 billion foreign debt and skyrocketing inflation, Poland must privatize industry and eliminate subsidies to stabilize its currency and qualify for international assistance.@@@@1@26@@oe@2-2-2013
21284028@unknown@formal@none@1@S@Market-based pollution control may consume some capital that would otherwise purchase state industries.@@@@1@13@@oe@2-2-2013
21284029@unknown@formal@none@1@S@But it could also accelerate "marketization" by reinforcing industrial accountability, breaking up state monopolies, giving managers a stake in solutions, and ensuring that modernization is not reversible for failure to address environmental effects.@@@@1@33@@oe@2-2-2013
21284030@unknown@formal@none@1@S@-- Least-cost solutions.@@@@1@3@@oe@2-2-2013
21284031@unknown@formal@none@1@S@As conferees noted, scarce capital means the costs of control must be minimized through a broad menu of compliance choices for individual firms.@@@@1@23@@oe@2-2-2013
21284032@unknown@formal@none@1@S@That means simple, clear rules that secure the first large blocks of reduction, deferring more complex issues such as risk.@@@@1@20@@oe@2-2-2013
21284033@unknown@formal@none@1@S@It also means use of quantity-based pollution limits such as transferable permits, rather than price-based limits such as effluent fees.@@@@1@20@@oe@2-2-2013
21284034@unknown@formal@none@1@S@That's because quota-trained managers will likely respond better to quantity than to price signals.@@@@1@14@@oe@2-2-2013
21284035@unknown@formal@none@1@S@-- Creative financing.@@@@1@3@@oe@2-2-2013
21284036@unknown@formal@none@1@S@Even least-cost environmental solutions will require billions of dollars.@@@@1@9@@oe@2-2-2013
21284037@unknown@formal@none@1@S@New types of financing must make funds available without draining Poland's hard-currency reserves.@@@@1@13@@oe@2-2-2013
21284038@unknown@formal@none@1@S@-- Democratization.@@@@1@2@@oe@2-2-2013
21284039@unknown@formal@none@1@S@East Bloc pollution data typically have been state secrets.@@@@1@9@@oe@2-2-2013
21284040@unknown@formal@none@1@S@While Polish data have been freely available since 1980, it was no accident that participants urged the free flow of information.@@@@1@21@@oe@2-2-2013
21284041@unknown@formal@none@1@S@For once information flows, public participation follows and repression becomes difficult to reimpose.@@@@1@13@@oe@2-2-2013
21284042@unknown@formal@none@1@S@-- Global reciprocity.@@@@1@3@@oe@2-2-2013
21284043@unknown@formal@none@1@S@One participant prematurely declared that America has had a free market in goods but a planned economy for environmental protection, while Poland represents the opposite.@@@@1@25@@oe@2-2-2013
21284044@unknown@formal@none@1@S@His point: It will be increasingly difficult for the U.S. to cling to command-and-control measures if even the East Bloc steps to a different drummer.@@@@1@25@@oe@2-2-2013
21284045@unknown@formal@none@1@S@At the moment, Poland resembles 19th-century Pittsburgh more than a modern industrial society -- with antiquated production, inadequate environmental management, and little ecological awareness.@@@@1@24@@oe@2-2-2013
21284046@unknown@formal@none@1@S@But the continuing pressures for free-market economics suggest the conference's vision was not all fantasy.@@@@1@15@@oe@2-2-2013
21284047@unknown@formal@none@1@S@Mr. Levin, former head of EPA's regulatory reform staff, adapted this from his November column for the Journal of the Air and Waste Management Association.@@@@1@25@@oe@2-2-2013
21285001@unknown@formal@none@1@S@Disappointing earnings news from some technology companies unnerved investors in the over-the-counter market, who sold shares of Apple Computer, Intel and many other computer-related concerns.@@@@1@25@@oe@2-2-2013
21285002@unknown@formal@none@1@S@The drop in those and other technology stocks contributed to an 0.7% slide by the Nasdaq composite index.@@@@1@18@@oe@2-2-2013
21285003@unknown@formal@none@1@S@It finished at 467.22, down 3.45.@@@@1@6@@oe@2-2-2013
21285004@unknown@formal@none@1@S@The nervousness about the technology stock outlook also hurt the Dow Jones Industrial Average, which slipped about 1%.@@@@1@18@@oe@2-2-2013
21285005@unknown@formal@none@1@S@Mostly because of the sell-off in technology stocks, the Nasdaq 100 Index of the OTC's largest non-financial issues dropped 4.58 to 457.52.@@@@1@22@@oe@2-2-2013
21285006@unknown@formal@none@1@S@The Nasdaq Financial Index of giant insurance and banking issues lost 2.38 to 458.32.@@@@1@14@@oe@2-2-2013
21285007@unknown@formal@none@1@S@Some traders said the sell-off of technology stocks on low volume reflected a lack of conviction by investors.@@@@1@18@@oe@2-2-2013
21285008@unknown@formal@none@1@S@But Charlie Howley, vice president in charge of OTC trading at SoundView Financial in Stamford, Conn., said the selling was orderly.@@@@1@21@@oe@2-2-2013
21285009@unknown@formal@none@1@S@"It's a quiet retreat," said Mr. Howley.@@@@1@7@@oe@2-2-2013
21285010@unknown@formal@none@1@S@"It's nothing dramatic, just a routine sell-off."@@@@1@7@@oe@2-2-2013
21285011@unknown@formal@none@1@S@Some of it was due to lower-than-expected earnings from leading companies, he said.@@@@1@13@@oe@2-2-2013
21285012@unknown@formal@none@1@S@But some of it also represented profit-taking by investors who have made big gains in some issues.@@@@1@17@@oe@2-2-2013
21285013@unknown@formal@none@1@S@Yesterday's volume of 117.2 million shares was far below last week's sizzling average of nearly 177 million.@@@@1@17@@oe@2-2-2013
21285014@unknown@formal@none@1@S@For October so far, daily volume is averaging 150.3 million, putting it on track to be the year's busiest month.@@@@1@20@@oe@2-2-2013
21285015@unknown@formal@none@1@S@Apple Computer, which reported lackluster earnings Friday, lost 1 1/4 to 46 3/4 on 1.1 million shares.@@@@1@17@@oe@2-2-2013
21285016@unknown@formal@none@1@S@Stratus Computer, which reported earnings late Friday that were in line with a disappointing forecast, eased 3/4 to 24 on 816,000 shares.@@@@1@22@@oe@2-2-2013
21285017@unknown@formal@none@1@S@Investors apparently didn't like the news from Rainbow Technologies either.@@@@1@10@@oe@2-2-2013
21285018@unknown@formal@none@1@S@It said net income was 17 cents a share in the third quarter, compared with 16 cents a share a year earlier.@@@@1@22@@oe@2-2-2013
21285019@unknown@formal@none@1@S@Rainbow's stock dropped 2 to 14 1/4.@@@@1@7@@oe@2-2-2013
21285020@unknown@formal@none@1@S@Other technology stocks that were weaker included Intel, which fell 1 1/4 to 33 1/2 on 1.9 million shares, Mentor Graphics, down 3/4 to 16 1/4 on 1.6 million shares, Sun Microsystems, which slipped 3/8 to 18 1/4, and MCI Communications, down 1 to 42 3/4.@@@@1@46@@oe@2-2-2013
21285021@unknown@formal@none@1@S@Microsoft, which last week rose to a record, fell victim to profit-taking, traders said, as it declined 2 1/8 to 83 1/8.@@@@1@22@@oe@2-2-2013
21285022@unknown@formal@none@1@S@Conner Peripherals was unchanged at 15.@@@@1@6@@oe@2-2-2013
21285023@unknown@formal@none@1@S@Among takeover stocks, Jefferson Smurfit jumped 1 1/4 to 42 1/2 after SIBV-MS Holdings said the price to be paid to Jefferson Smurfit's minority holders has been raised to $43 a share.@@@@1@32@@oe@2-2-2013
21285024@unknown@formal@none@1@S@The increase of $1.25 a share is being made to settle shareholder litigation relating to SIBV-MS's tender offer.@@@@1@18@@oe@2-2-2013
21285025@unknown@formal@none@1@S@SIBV-MS Holdings is a new company jointly owned by an affiliate of Jefferson Smurfit and a Morgan Stanley limited partnership.@@@@1@20@@oe@2-2-2013
21285026@unknown@formal@none@1@S@The Jefferson Smurfit affiliate, Smurfit International B.V., holds about 78% of the shares outstanding.@@@@1@14@@oe@2-2-2013
21285027@unknown@formal@none@1@S@These shares will be bought by SIBV-MS Holdings at $41.75 each after the acquisition of the minority shares.@@@@1@18@@oe@2-2-2013
21285028@unknown@formal@none@1@S@Another takeover target, LIN Broadcasting, eased 1/2 to 110 1/8 on 313,800 shares.@@@@1@13@@oe@2-2-2013
21285029@unknown@formal@none@1@S@LIN's suitor, McCaw Cellular Communications, dropped 1 to 40 on almost 350,000 shares.@@@@1@13@@oe@2-2-2013
21285030@unknown@formal@none@1@S@Some analysts say investors will begin paying more attention to earnings, partly in response to the latest round of disappointments.@@@@1@20@@oe@2-2-2013
21285031@unknown@formal@none@1@S@They say investors will favor companies that historically have posted annual earnings growth of 15% to 20%.@@@@1@17@@oe@2-2-2013
21285032@unknown@formal@none@1@S@That would be good news for the OTC market, some analysts say, because many small growth stocks are traded there.@@@@1@20@@oe@2-2-2013
21285033@unknown@formal@none@1@S@Michael R. Weisberg, partner in charge of research at Robertson Stephens & Co. in San Francisco, said some investors have already made the switch.@@@@1@24@@oe@2-2-2013
21285034@unknown@formal@none@1@S@The Robertson Stephens Index of 340 emerging growth stocks is up 23.1% for the year through Friday.@@@@1@17@@oe@2-2-2013
21285035@unknown@formal@none@1@S@The rise matches that of the Dow Jones industrials this year.@@@@1@11@@oe@2-2-2013
21285036@unknown@formal@none@1@S@"It's been a spectacular year for the emerging growth stock investor," Mr. Weisberg said.@@@@1@14@@oe@2-2-2013
21285037@unknown@formal@none@1@S@He predicted that the most popular growth companies will be those with "some kind of unique product or franchise" that makes them appear able to sustain their momentum.@@@@1@28@@oe@2-2-2013
21285038@unknown@formal@none@1@S@He puts the OTC market's Nellcor, Office Club and BizMart on the list.@@@@1@13@@oe@2-2-2013
21285039@unknown@formal@none@1@S@Nellcor, a maker of electronic patient monitoring systems, was up 3/4 to 16 7/8 on 258,000 shares yesterday, while retailing issue Office Club was unchanged at 10 3/4 on 65,200 shares.@@@@1@31@@oe@2-2-2013
21285040@unknown@formal@none@1@S@BizMart, another retailing stock, was off 3/8 to 8 1/4 on nearly 80,000 shares.@@@@1@14@@oe@2-2-2013
21285041@unknown@formal@none@1@S@Other favorites of growth-stock analysts and money managers also had a mixed session.@@@@1@13@@oe@2-2-2013
21285042@unknown@formal@none@1@S@Payco American, a credit collection concern, jumped 1 3/8 to 20 5/8 on volume of 93,000, and Mail Boxes Etc., a private postal services company, advanced 1/2 to 23 1/2 on volume of 64,000.@@@@1@34@@oe@2-2-2013
21285043@unknown@formal@none@1@S@But Legent, a systems software stock, was down 1/2 to 29 3/4 on 39,300 shares.@@@@1@15@@oe@2-2-2013
21285044@unknown@formal@none@1@S@Novell, a computer networking concern, fell 1 1/2 to 30 on 152,000 shares.@@@@1@13@@oe@2-2-2013
21285045@unknown@formal@none@1@S@Elsewhere, Valley National continued its slide, dropping 2 1/8 to 15 on 1.7 million shares.@@@@1@15@@oe@2-2-2013
21285046@unknown@formal@none@1@S@The Arizona banking concern is facing difficulties related to weakness in the real estate market in the state.@@@@1@18@@oe@2-2-2013
21285047@unknown@formal@none@1@S@Higher earnings helped some issues.@@@@1@5@@oe@2-2-2013
21285048@unknown@formal@none@1@S@Amgen rose 2 1/4 to 54 3/4 on almost 800,000 shares, and CVB Financial jumped 4 to 41 on only 1,000 shares.@@@@1@22@@oe@2-2-2013
21286001@unknown@formal@none@1@S@Why can't we teach our children to read, write and reckon?@@@@1@11@@oe@2-2-2013
21286002@unknown@formal@none@1@S@It's not that we don't know how to, because we do.@@@@1@11@@oe@2-2-2013
21286003@unknown@formal@none@1@S@It's that we don't want to.@@@@1@6@@oe@2-2-2013
21286004@unknown@formal@none@1@S@And the reason we don't want to is that effective education would require us to relinquish some cherished metaphysical beliefs about human nature in general and the human nature of young people in particular, as well as to violate some cherished vested interests.@@@@1@43@@oe@2-2-2013
21286005@unknown@formal@none@1@S@These beliefs so dominate our educational establishment, our media, our politicians, and even our parents that it seems almost blasphemous to challenge them.@@@@1@23@@oe@2-2-2013
21286006@unknown@formal@none@1@S@Here is an example.@@@@1@4@@oe@2-2-2013
21286007@unknown@formal@none@1@S@If I were to ask a sample of American parents, "Do you wish the elementary schools to encourage creativity in your children?" the near-unanimous answer would be, "Yes, of course."@@@@1@30@@oe@2-2-2013
21286008@unknown@formal@none@1@S@But what do we mean, specifically, by "creativity"?@@@@1@8@@oe@2-2-2013
21286009@unknown@formal@none@1@S@No one can say.@@@@1@4@@oe@2-2-2013
21286010@unknown@formal@none@1@S@In practice, it ends up being equated with a "self-expression" that encourages the youngsters' "self-esteem."@@@@1@15@@oe@2-2-2013
21286011@unknown@formal@none@1@S@The result is a generation of young people whose ignorance and intellectual incompetence is matched only by their good opinion of themselves.@@@@1@22@@oe@2-2-2013
21286012@unknown@formal@none@1@S@The whole notion of "creativity" in education was (and is) part and parcel of a romantic rebellion against disciplined instruction, which was (and is) regarded as "authoritarian," a repression and frustration of the latent talents and the wonderful, if as yet undefined, potentialities inherent in the souls of all our children.@@@@1@51@@oe@2-2-2013
21286013@unknown@formal@none@1@S@It is not surprising that parents find this romantic extravagance so attractive.@@@@1@12@@oe@2-2-2013
21286014@unknown@formal@none@1@S@Fortunately, these same parents do want their children to get a decent education as traditionally understood, and they have enough common sense to know what that demands.@@@@1@27@@oe@2-2-2013
21286015@unknown@formal@none@1@S@Their commitment to "creativity" cannot survive adolescent illiteracy.@@@@1@8@@oe@2-2-2013
21286016@unknown@formal@none@1@S@American education's future will be determined by the degree to which we -- all of us -- allow this common sense to prevail over the illusions that we also share.@@@@1@30@@oe@2-2-2013
21286017@unknown@formal@none@1@S@The education establishment will fight against common sense every inch of the way.@@@@1@13@@oe@2-2-2013
21286018@unknown@formal@none@1@S@The reasons are complex, but one simple reason ought not to be underestimated.@@@@1@13@@oe@2-2-2013
21286019@unknown@formal@none@1@S@"Progressive education" (as it was once called) is far more interesting and agreeable to teachers than is disciplined instruction.@@@@1@19@@oe@2-2-2013
21286020@unknown@formal@none@1@S@It is nice for teachers to think they are engaged in "personality development" and even nicer to minimize those irksome tests with often disappointing results.@@@@1@25@@oe@2-2-2013
21286021@unknown@formal@none@1@S@It also provides teachers with a superior self-definition as a "profession," since they will have passed courses in educational psychology and educational philosophy.@@@@1@23@@oe@2-2-2013
21286022@unknown@formal@none@1@S@I myself took such courses in college, thinking I might end up a schoolteacher.@@@@1@14@@oe@2-2-2013
21286023@unknown@formal@none@1@S@They could all fairly be described as "pap" courses.@@@@1@9@@oe@2-2-2013
21286024@unknown@formal@none@1@S@But it is unfair to dump on teachers, as distinct from the educational establishment.@@@@1@14@@oe@2-2-2013
21286025@unknown@formal@none@1@S@I know many schoolteachers and, on the whole, they are seriously committed to conscientious teaching.@@@@1@15@@oe@2-2-2013
21286026@unknown@formal@none@1@S@They may not be among the "best and brightest" of their generation -- there are very few such people, by definition.@@@@1@21@@oe@2-2-2013
21286027@unknown@formal@none@1@S@But they need not be to do their jobs well.@@@@1@10@@oe@2-2-2013
21286028@unknown@formal@none@1@S@Yes, we all can remember one or two truly inspiring teachers from our school days.@@@@1@15@@oe@2-2-2013
21286029@unknown@formal@none@1@S@But our education proceeded at the hands of those others, who were merely competent and conscientious.@@@@1@16@@oe@2-2-2013
21286030@unknown@formal@none@1@S@In this sense, a teacher can be compared to one's family doctor.@@@@1@12@@oe@2-2-2013
21286031@unknown@formal@none@1@S@If he were brilliant, he probably would not be a family doctor in the first place.@@@@1@16@@oe@2-2-2013
21286032@unknown@formal@none@1@S@If he is competent and conscientious, he serves us well.@@@@1@10@@oe@2-2-2013
21286033@unknown@formal@none@1@S@Our teachers are not an important factor in our educational crisis.@@@@1@11@@oe@2-2-2013
21286034@unknown@formal@none@1@S@Whether they are or are not underpaid is a problem of equity; it is not an educational problem.@@@@1@18@@oe@2-2-2013
21286035@unknown@formal@none@1@S@It is silly libel on our teachers to think they would educate our children better if only they got a few thousand dollars a year more.@@@@1@26@@oe@2-2-2013
21286036@unknown@formal@none@1@S@It is the kind of libel the teachers' unions don't mind spreading, for their own narrow purposes.@@@@1@17@@oe@2-2-2013
21286037@unknown@formal@none@1@S@It is also the kind of libel politicians find useful, since it helps them strike a friendly posture on behalf of an important constituency.@@@@1@24@@oe@2-2-2013
21286038@unknown@formal@none@1@S@But there is not one shred of evidence that, other things being equal, salary differentials result in educational differentials.@@@@1@19@@oe@2-2-2013
21286039@unknown@formal@none@1@S@If there were such evidence, you can be sure you would have heard of it.@@@@1@15@@oe@2-2-2013
21286040@unknown@formal@none@1@S@If we wish to be serious about American education, we know exactly what to do -- and, just as important, what not to do.@@@@1@24@@oe@2-2-2013
21286041@unknown@formal@none@1@S@There are many successful schools scattered throughout this nation, some of them in the poorest of ghettos, and they are all sending us the same message.@@@@1@26@@oe@2-2-2013
21286042@unknown@formal@none@1@S@Conversely, there are the majority of unsuccessful schools, and we know which efforts at educational reform are doomed beforehand.@@@@1@19@@oe@2-2-2013
21286043@unknown@formal@none@1@S@We really do know all we need to know, if only we could assimilate this knowledge into our thinking.@@@@1@19@@oe@2-2-2013
21286044@unknown@formal@none@1@S@In this respect, it would be helpful if our political leaders were mute, rather than eloquently "concerned."@@@@1@17@@oe@2-2-2013
21286045@unknown@formal@none@1@S@They are inevitably inclined to echo the conventional pap, since this is the least controversial option that is open to them.@@@@1@21@@oe@2-2-2013
21286046@unknown@formal@none@1@S@Thus at the recent governors' conference on education, Gov. Bill Clinton of Arkansas announced that "this country needs a comprehensive child-development policy for children under five."@@@@1@26@@oe@2-2-2013
21286047@unknown@formal@none@1@S@A comprehensive development policy for governors over 30 would seem to be a more pressing need.@@@@1@16@@oe@2-2-2013
21286048@unknown@formal@none@1@S@What Gov. Clinton is advocating, in effect, is extending the educational system down to the pre-kindergarten years.@@@@1@17@@oe@2-2-2013
21286049@unknown@formal@none@1@S@Whether desirable or not, this is a child-care program, not an educational program.@@@@1@13@@oe@2-2-2013
21286050@unknown@formal@none@1@S@We know that very early exposure to schooling improves performance in the first grade, but afterward the difference is quickly washed away.@@@@1@22@@oe@2-2-2013
21286051@unknown@formal@none@1@S@Let us sum up what we do know about education and about those education reforms that do work and don't work: -- "Parental involvement" is a bad idea.@@@@1@28@@oe@2-2-2013
21286052@unknown@formal@none@1@S@Parents are too likely to blame schools for the educational limitations of their children.@@@@1@14@@oe@2-2-2013
21286053@unknown@formal@none@1@S@Parents should be involved with their children's education at home, not in school.@@@@1@13@@oe@2-2-2013
21286054@unknown@formal@none@1@S@They should see to it that their kids don't play truant; they should make certain that the children spend enough time doing homework; they should scrutinize the report card.@@@@1@29@@oe@2-2-2013
21286055@unknown@formal@none@1@S@If parents are dissatisfied with a school, they should have the option of switching to another.@@@@1@16@@oe@2-2-2013
21286056@unknown@formal@none@1@S@-- "Community involvement" is an even worse idea.@@@@1@8@@oe@2-2-2013
21286057@unknown@formal@none@1@S@Here, the experience of New York City is decisive.@@@@1@9@@oe@2-2-2013
21286058@unknown@formal@none@1@S@Locally elected school boards, especially in our larger cities, become the prey of ambitious, generally corrupt, and invariably demagogic local politicians or would-be politicians.@@@@1@24@@oe@2-2-2013
21286059@unknown@formal@none@1@S@New York is in the process of trying to disengage itself from a 20-year-old commitment to this system of school governance, even as Chicago and other cities are moving to institute it.@@@@1@32@@oe@2-2-2013
21286060@unknown@formal@none@1@S@-- In most states, increasing expenditures on education, in our current circumstances, will probably make things worse, not better.@@@@1@19@@oe@2-2-2013
21286061@unknown@formal@none@1@S@The reason is simple: Education takes place in the classroom, where the influence of money is minimal.@@@@1@17@@oe@2-2-2013
21286062@unknown@formal@none@1@S@Decades of educational research tell us unequivocally that even smaller classes have zero effect on the academic performance of the pupils -- though they may sometimes be desirable for other reasons.@@@@1@31@@oe@2-2-2013
21286063@unknown@formal@none@1@S@The new money flows into the already top-heavy administrative structure, which busies itself piling more and more paper work on the teachers.@@@@1@22@@oe@2-2-2013
21286064@unknown@formal@none@1@S@There is neither mystery nor paradox in the fact that as educational expenditures (in real terms) have increased sharply in the past quarter-of-a-century -- we now spend more per pupil than any other country in the world -- educational performance has declined.@@@@1@42@@oe@2-2-2013
21286065@unknown@formal@none@1@S@That is the way the system works.@@@@1@7@@oe@2-2-2013
21286066@unknown@formal@none@1@S@-- Students should move up the educational ladder as their academic potential allows.@@@@1@13@@oe@2-2-2013
21286067@unknown@formal@none@1@S@No student should be permitted to be graduated from elementary school without having mastered the 3 R's at the level that prevailed 20 years ago.@@@@1@25@@oe@2-2-2013
21286068@unknown@formal@none@1@S@This means "tracking," whose main purpose is less to permit the gifted youngsters to flourish (though that is clearly desirable) than to ensure that the less gifted get the necessary grounding for further study or for entering the modern world of work.@@@@1@42@@oe@2-2-2013
21286069@unknown@formal@none@1@S@The notion that tracking is somehow "undemocratic" is absurd.@@@@1@9@@oe@2-2-2013
21286070@unknown@formal@none@1@S@The purpose of education is to encourage young men and women to realize their full academic potential.@@@@1@17@@oe@2-2-2013
21286071@unknown@formal@none@1@S@No one in his right mind actually believes that we all have an equal academic potential.@@@@1@16@@oe@2-2-2013
21286072@unknown@formal@none@1@S@-- It is generally desirable to use older textbooks -- many of them, alas, out of print -- rather than newer ones.@@@@1@22@@oe@2-2-2013
21286073@unknown@formal@none@1@S@The latter are modish, trendy, often downright silly, and at best insubstantial.@@@@1@12@@oe@2-2-2013
21286074@unknown@formal@none@1@S@They are based on dubious psychological and sociological theories rather than on educational experience.@@@@1@14@@oe@2-2-2013
21286075@unknown@formal@none@1@S@One of the reasons American students do so poorly in math tests, as compared with British, French, German or Japanese students, is the influence of the "New Math" on American textbooks and teaching methods.@@@@1@34@@oe@2-2-2013
21286076@unknown@formal@none@1@S@Anyone who wants to appreciate just how bizarre this situation is -- with students who can't add or subtract "learning" the conceptual basis of mathematical theory -- should read the article by Caleb Nelson (himself a recent math major at Harvard) in the November American Spectator.@@@@1@46@@oe@2-2-2013
21286077@unknown@formal@none@1@S@-- Most important of all, schools should have principals with a large measure of authority over the faculty, the curriculum, and all matters of student discipline.@@@@1@26@@oe@2-2-2013
21286078@unknown@formal@none@1@S@Study after study -- the most recent from the Brookings Institution -- tells us that the best schools are those that are free of outside interference and are governed by a powerful head.@@@@1@33@@oe@2-2-2013
21286079@unknown@formal@none@1@S@With that authority, of course, goes an unambiguous accountability.@@@@1@9@@oe@2-2-2013
21286080@unknown@formal@none@1@S@Schools that are structured in this way produce students with higher morale and superior academic performance.@@@@1@16@@oe@2-2-2013
21286081@unknown@formal@none@1@S@This is a fact -- though, in view of all the feathers that are ruffled by this fact, it is not surprising that one hears so little about it.@@@@1@29@@oe@2-2-2013
21286082@unknown@formal@none@1@S@Mr. Kristol, an American Enterprise Institute fellow, co-edits The Public Interest and publishes The National Interest.@@@@1@16@@oe@2-2-2013
21287001@unknown@formal@none@1@S@International Business Machines Corp. unveiled a broad strategy to tackle the biggest problem that manufacturers face when computerizing their operations: Most machines can't talk to each other.@@@@1@27@@oe@2-2-2013
21287002@unknown@formal@none@1@S@The company unveiled more than 50 products, mostly software, that are designed to integrate the three areas of a manufacturing operation -- the plant floor, design operations and production planning.@@@@1@30@@oe@2-2-2013
21287003@unknown@formal@none@1@S@The aim, ultimately, is to increase the flow of information into a manufacturer's main computer network for use in business planning, marketing and other operations.@@@@1@25@@oe@2-2-2013
21287004@unknown@formal@none@1@S@Manufacturers have already spent so heavily on automation that they are one of the computer industry's leading revenue sources.@@@@1@19@@oe@2-2-2013
21287005@unknown@formal@none@1@S@But many manufacturers find that communication between different computers has been rendered nearly impossible by the babel of computer languages used by different machines, including robots and machine tools.@@@@1@29@@oe@2-2-2013
21287006@unknown@formal@none@1@S@IBM's announcement, which was expected and will formally be made to customers today, also marks an attempt to gain credibility on the plant floor, where Digital Equipment Corp. has long dominated and where Hewlett-Packard Co. has recently gained market share.@@@@1@40@@oe@2-2-2013
21287007@unknown@formal@none@1@S@Consultants have said that it will take a while for all the pieces of the IBM strategy to fall into place, even though the specific products IBM unveiled will generally be available by the end of the first quarter.@@@@1@39@@oe@2-2-2013
21287008@unknown@formal@none@1@S@Sam Albert, a consultant in Scarsdale, N.Y., said that in the past IBM has developed broad software strategies only for problems that crossed industry lines.@@@@1@25@@oe@2-2-2013
21287009@unknown@formal@none@1@S@He said he believes IBM's decision to invest this sort of effort into a single industry showed that it was getting serious about understanding customers' problems and wasn't just selling technology.@@@@1@31@@oe@2-2-2013
21287010@unknown@formal@none@1@S@He said he expects IBM to unveil similar strategies for other industries in coming months.@@@@1@15@@oe@2-2-2013
21287011@unknown@formal@none@1@S@IBM's push is also unusual in its approach to marketing.@@@@1@10@@oe@2-2-2013
21287012@unknown@formal@none@1@S@Rather than just send out marketing people to knock on customers' doors, IBM is making several hundred of its own manufacturing people available to discuss specific needs.@@@@1@27@@oe@2-2-2013
21287013@unknown@formal@none@1@S@IBM's manufacturing staff also will be able to provide software that IBM has developed internally and will be able to form teams with a customer to jointly solve manufacturing problems.@@@@1@30@@oe@2-2-2013
21287014@unknown@formal@none@1@S@IBM can obviously bring its expertise to bear on problems related to computer manufacturing, but it could also help customers on software to deal with such things as changes in engineering documents.@@@@1@32@@oe@2-2-2013
21287015@unknown@formal@none@1@S@"We may not have every manufacturing problem, but we have most," said George Conrades, IBM's top marketing official.@@@@1@18@@oe@2-2-2013
21288001@unknown@formal@none@1@S@Japan's Big Four securities firms posted first-half unconsolidated results that mirrored softer performance as a result of slower turnover on the Tokyo Stock Exchange during July and August.@@@@1@28@@oe@2-2-2013
21288002@unknown@formal@none@1@S@Figures for the period ended Sept. 30 for the four largest brokerage firms -- Nomura Securities Co., Daiwa Securities Co., Yamaichi Securities Co. and Nikko Securities -- also reflected a changeover to a fiscal year ending March 31, replacing the 12-month term formerly finishing Sept. 30.@@@@1@46@@oe@2-2-2013
21288003@unknown@formal@none@1@S@As a result, brokerage house officials said, appropriate comparisons from the same period a year earlier were unavailable.@@@@1@18@@oe@2-2-2013
21288004@unknown@formal@none@1@S@Operating profit, pretax profit and net income results, however, were provided for the immediately preceding six-month period.@@@@1@17@@oe@2-2-2013
21288005@unknown@formal@none@1@S@The statistics follow a year-on-year rebound in consolidated and unconsolidated results in the full fiscal year ended in March 1989, recovering from dismal results in the prior fiscal year as a result of the October 1987 stock market crash.@@@@1@39@@oe@2-2-2013
21288006@unknown@formal@none@1@S@Nomura said its pretax profits inched up 0.9% to 248.91 billion yen (US$1.75 billion) from 246.60 billion yen in the six months ended March 31.@@@@1@25@@oe@2-2-2013
21288007@unknown@formal@none@1@S@Total operating profit fell 3.1% to 486.1 billion yen from 501.61 billion yen.@@@@1@13@@oe@2-2-2013
21288008@unknown@formal@none@1@S@Net income, however, rose 3.7% to 107.87 billion yen from 103.98 billion yen.@@@@1@13@@oe@2-2-2013
21288009@unknown@formal@none@1@S@Per-share net rose to 55.10 yen from 54.51 yen.@@@@1@9@@oe@2-2-2013
21288010@unknown@formal@none@1@S@Daiwa said its pretax profits surged 9.6% to 171.04 billion yen from 156.12 billion yen in the preceding six-month term.@@@@1@20@@oe@2-2-2013
21288011@unknown@formal@none@1@S@Operating profit rose 5.5% to 332.38 billion yen from 315.12 billion yen.@@@@1@12@@oe@2-2-2013
21288012@unknown@formal@none@1@S@Net income jumped 21% to 79.03 billion yen from 65.53 billion yen.@@@@1@12@@oe@2-2-2013
21288013@unknown@formal@none@1@S@Per-share net rose to 62.04 yen from 51.50 yen.@@@@1@9@@oe@2-2-2013
21288014@unknown@formal@none@1@S@Yamaichi said its pretax profit increased 8.9% to 117.94 billion yen from 108.28 billion yen.@@@@1@15@@oe@2-2-2013
21288015@unknown@formal@none@1@S@Operating profit rose 5.3% to 279.75 billion yen from 265.79 billion yen.@@@@1@12@@oe@2-2-2013
21288016@unknown@formal@none@1@S@Net income surged 21% to 55.59 billion yen from 46.02 billion yen.@@@@1@12@@oe@2-2-2013
21288017@unknown@formal@none@1@S@Per-share net rose to 47.46 yen from 39.31 yen.@@@@1@9@@oe@2-2-2013
21288018@unknown@formal@none@1@S@Nikko's pretax profit rose 1.6% to 130.25 billion yen from 128.19 billion yen.@@@@1@13@@oe@2-2-2013
21288019@unknown@formal@none@1@S@Operating profit rose 4% to 293.29 billion yen from 282.08 billion yen.@@@@1@12@@oe@2-2-2013
21288020@unknown@formal@none@1@S@Net income rose 23% to 63.52 billion yen from 51.65 billion yen.@@@@1@12@@oe@2-2-2013
21288021@unknown@formal@none@1@S@Per-share net rose to 44.08 yen from 36.13 yen.@@@@1@9@@oe@2-2-2013
21289001@unknown@formal@none@1@S@Harken Energy Corp. of Dallas said it will drop its $11.75-a-share, or $190 million, offer for Tesoro Petroleum Corp. if the two companies don't have an agreement to merge by Dec. 15.@@@@1@32@@oe@2-2-2013
21289002@unknown@formal@none@1@S@Harken, which made its offer in August, said it still is awaiting a response to its offer from Tesoro's board.@@@@1@20@@oe@2-2-2013
21289003@unknown@formal@none@1@S@Harken also said that its financing from Bankers Trust Co. has been extended until Dec. 15 to give Tesoro's board time to consider the offer at a Tesoro board meeting scheduled for mid-November.@@@@1@33@@oe@2-2-2013
21289004@unknown@formal@none@1@S@Harken, which owns about 800 retail gas stations, has said it is particularly interested in Tesoro's refinery because it would fill a gap in its business.@@@@1@26@@oe@2-2-2013
21289005@unknown@formal@none@1@S@However, Tesoro, based in Houston, already has rejected a suitor in the past year.@@@@1@14@@oe@2-2-2013
21290001@unknown@formal@none@1@S@Francis D. John, 35-year-old president, will assume the additional job of chief executive officer.@@@@1@14@@oe@2-2-2013
21290002@unknown@formal@none@1@S@He succeeds Paul J. Montle, 42, who will remain chairman.@@@@1@10@@oe@2-2-2013
21290003@unknown@formal@none@1@S@National Environmental also said it will move its headquarters from Hingham to Folcroft, Pa., the site of its sludge dewatering facility.@@@@1@21@@oe@2-2-2013
21290004@unknown@formal@none@1@S@National Environmental, formerly Yankee Cos., is a sludge treatment company.@@@@1@10@@oe@2-2-2013
21291001@unknown@formal@none@1@S@Eagle Clothes Inc., which is operating under Chapter 11 of the federal Bankruptcy Code, said it reached an agreement with its creditors.@@@@1@22@@oe@2-2-2013
21291002@unknown@formal@none@1@S@Under the accord, Albert Roth, chairman and chief executive officer, and Arthur Chase, Sam Beigel, and Louis Polsky will resign as officers and directors of the menswear retailer.@@@@1@28@@oe@2-2-2013
21291003@unknown@formal@none@1@S@Mr. Roth, who has been on leave from his posts, will be succeeded by Geoffrie D. Lurie of GDL Management Inc., which is Eagle's crisis manager.@@@@1@26@@oe@2-2-2013
21291004@unknown@formal@none@1@S@Mr. Lurie is currently co-chief executive.@@@@1@6@@oe@2-2-2013
21291005@unknown@formal@none@1@S@Arnold Levine, acting co-chief executive, will continue as senior vice president and a board member.@@@@1@15@@oe@2-2-2013
21291006@unknown@formal@none@1@S@Eagle also said it received a commitment for as much as $8 million in financing from Norfolk Capital Group Inc.@@@@1@20@@oe@2-2-2013
21291007@unknown@formal@none@1@S@In addition, a Norfolk affiliate, York Capital Inc., will purchase all of the interests of Eagle's secured lenders, which total $11.5 million, and guarantee as much as $8.2 million in payments to Eagle's unsecured creditors.@@@@1@35@@oe@2-2-2013
21291008@unknown@formal@none@1@S@A committee representing the unsecured creditors agreed to accept 24 cents on the dollar, Eagle said.@@@@1@16@@oe@2-2-2013
21291009@unknown@formal@none@1@S@The plan would extend the period under which Eagle has the exclusive right to file a reorganization plan.@@@@1@18@@oe@2-2-2013
21291010@unknown@formal@none@1@S@It would extinguish all of Eagle's existing capital stock and issue new stock to York as sole holder.@@@@1@18@@oe@2-2-2013
21291011@unknown@formal@none@1@S@A bankruptcy court hearing is set for Nov. 3 on these accords.@@@@1@12@@oe@2-2-2013
21291012@unknown@formal@none@1@S@In its bankruptcy-law petition, filed in U.S. Bankruptcy Court in Manhattan, Eagle said its problems began in 1987 and early 1988 when its then-senior lender, Bankers Trust Co., reduced its credit line.@@@@1@32@@oe@2-2-2013
21291013@unknown@formal@none@1@S@In September 1988, Eagle acquired Biny Clothing Inc., a closely held New York chain operated under the Bonds name.@@@@1@19@@oe@2-2-2013
21291014@unknown@formal@none@1@S@Eagle's management retired and Biny's management took control of the company.@@@@1@11@@oe@2-2-2013
21291015@unknown@formal@none@1@S@At the time, Eagle reached a new credit agreement with Bankers Trust and with Bank Leumi Trust Co. of New York for $8 million, and a new subordinated debt accord with First Century Partners and Biny management for $2 million.@@@@1@40@@oe@2-2-2013
21291016@unknown@formal@none@1@S@But Eagle said the financing was insufficient and sales during the past fiscal year sagged.@@@@1@15@@oe@2-2-2013
21291017@unknown@formal@none@1@S@Under Chapter 11, a company operates under protection from creditors' lawsuits while it works out a plan to pay debts.@@@@1@20@@oe@2-2-2013
21292001@unknown@formal@none@1@S@Standard & Poor's Corp. said it would add John H. Harland Co., an Atlanta check printer, to its 500-stock index, effective at the close of trading on Wednesday.@@@@1@28@@oe@2-2-2013
21292002@unknown@formal@none@1@S@American Medical International Inc., a New York hospital operator, will be deleted from the index at that time.@@@@1@18@@oe@2-2-2013
21292003@unknown@formal@none@1@S@American Medical is being acquired.@@@@1@5@@oe@2-2-2013
21293001@unknown@formal@none@1@S@The tougher new regulations under the savings-and-loan bailout law are accelerating the thrift industry's shrinking act.@@@@1@16@@oe@2-2-2013
21293002@unknown@formal@none@1@S@Largely to meet tougher new capital requirements, thrifts reduced their assets $13.4 billion in August, by selling such assets as mortgage-backed securities and loans.@@@@1@24@@oe@2-2-2013
21293003@unknown@formal@none@1@S@Industry assets as of Aug. 31 were $1.31 trillion, the lowest since August 1988.@@@@1@14@@oe@2-2-2013
21293004@unknown@formal@none@1@S@As thrifts sell assets to improve their capital-to-asset ratio, as required under the new law passed in August, they must also reduce liabilities, such as deposits.@@@@1@26@@oe@2-2-2013
21293005@unknown@formal@none@1@S@As interest rates paid depositors were lowered, thrift withdrawals exceeded deposits by $5.1 billion, not including interest credited to accounts.@@@@1@20@@oe@2-2-2013
21293006@unknown@formal@none@1@S@It was the third consecutive month in which thrifts shed assets to increase the size of their capital in relation to their assets, the Office of Thrift Supervision said.@@@@1@29@@oe@2-2-2013
21293007@unknown@formal@none@1@S@The asset shrinkage was particularly concentrated in several large California institutions.@@@@1@11@@oe@2-2-2013
21293008@unknown@formal@none@1@S@"The downsizing of the thrift industry is well under way," said Bert Ely, an industry consultant in Alexandria, Va.@@@@1@19@@oe@2-2-2013
21293009@unknown@formal@none@1@S@"This suggests the bailout law is having a more dramatic effect than anyone would have imagined so soon."@@@@1@18@@oe@2-2-2013
21293010@unknown@formal@none@1@S@James Barth, an economist with the Office of Thrift Supervision, also attributed some of the outflow to seasonal factors.@@@@1@19@@oe@2-2-2013
21293011@unknown@formal@none@1@S@"August is a month when people are paying school tuition," he said.@@@@1@12@@oe@2-2-2013
21293012@unknown@formal@none@1@S@"That and adjustment to the new law were the biggest factors in the industry."@@@@1@14@@oe@2-2-2013
21293013@unknown@formal@none@1@S@Not including thrifts under government conservatorship, S&Ls reduced their assets by $10.1 billion from the previous month, and deposit outflows totaled $3.9 billion.@@@@1@23@@oe@2-2-2013
21293014@unknown@formal@none@1@S@For the 264 insolvent thrifts under government management at the end of August, assets declined by $3.3 billion and withdrawals exceeded deposits by $1.2 billion.@@@@1@25@@oe@2-2-2013
21293015@unknown@formal@none@1@S@Thrifts raised capital mostly by selling mortgages and mortgage-backed securities, which were reduced by $7.8 billion in August from the prior month.@@@@1@22@@oe@2-2-2013
21293016@unknown@formal@none@1@S@As of Aug. 31, thrifts held $185 billion in mortgage-backed securities.@@@@1@11@@oe@2-2-2013
21293017@unknown@formal@none@1@S@The deposit numbers for August marked a swing back to huge outflows after a July net deposit inflow of $54 million -- the only net inflow in more than a year.@@@@1@31@@oe@2-2-2013
21293018@unknown@formal@none@1@S@Deposits aren't expected to exceed withdrawals in the foreseeable future, as the industry continues to shrink.@@@@1@16@@oe@2-2-2013
21293019@unknown@formal@none@1@S@"I think we are going to see deposit shrinkage continue, unless we see big changes in rates," Mr. Ely said.@@@@1@20@@oe@2-2-2013
21293020@unknown@formal@none@1@S@For the first eight months of 1989, thrifts' withdrawals exceeded deposits by $44.5 billion.@@@@1@14@@oe@2-2-2013
21293021@unknown@formal@none@1@S@For the prior year, deposits exceeded withdrawals by $8.8 billion.@@@@1@10@@oe@2-2-2013
21294001@unknown@formal@none@1@S@The estimates of real gross national product prepared by the Bureau of Economic Analysis in the Department of Commerce significantly understate the rate of economic growth.@@@@1@26@@oe@2-2-2013
21294002@unknown@formal@none@1@S@Since the bureau's estimates for the business sector provide the numerator for the productivity ratios calculated by the Department of Labor, underestimated growth rates artificially depress official productivity statistics.@@@@1@29@@oe@2-2-2013
21294003@unknown@formal@none@1@S@If this thesis is correct, it has important implications for macroeconomic policies: It may lower the sense of urgency behind efforts to enact tax incentives and other measures to increase the rate of growth in productivity and real GNP.@@@@1@39@@oe@2-2-2013
21294004@unknown@formal@none@1@S@It would also affect the perceptions of the board of governors of the Federal Reserve System, and the informed public generally, as to what constitutes a reasonable degree of price stability.@@@@1@31@@oe@2-2-2013
21294005@unknown@formal@none@1@S@In the early 1980s, I predicted a significant acceleration in productivity growth over the rest of the decade.@@@@1@18@@oe@2-2-2013
21294006@unknown@formal@none@1@S@This forecast was based on the apparent reversal of most of the negative forces -- such as demographic changes, the oil shock and accelerating inflation -- that had reduced productivity gains in the 1970s.@@@@1@34@@oe@2-2-2013
21294007@unknown@formal@none@1@S@There has indeed been more than a one percentage point improvement in productivity growth since 1981.@@@@1@16@@oe@2-2-2013
21294008@unknown@formal@none@1@S@But I had expected more, which is one reason I began looking at evidence suggesting defects in the official output estimates.@@@@1@21@@oe@2-2-2013
21294009@unknown@formal@none@1@S@The evidence does not clearly support the view that the downward bias in output growth has become greater during the 1948-89 period, but all I am claiming is that the growth trend is understated.@@@@1@34@@oe@2-2-2013
21294010@unknown@formal@none@1@S@(It is, however, possible, that further study will reveal increasing bias.)@@@@1@11@@oe@2-2-2013
21294011@unknown@formal@none@1@S@This bias is in no way deliberate.@@@@1@7@@oe@2-2-2013
21294012@unknown@formal@none@1@S@The understatement of growth is due largely to the conservative expedients adopted to deal with deficiencies in basic economic data.@@@@1@20@@oe@2-2-2013
21294013@unknown@formal@none@1@S@The first of three major sources of error is the use of labor input estimates (mainly employment or hours) instead of output estimates for those sectors, such as governments, paid household services and private non-profit institutions, where there are difficulties in assembling output data.@@@@1@44@@oe@2-2-2013
21294014@unknown@formal@none@1@S@This means that no allowance is made for possible increases in output per unit of labor.@@@@1@16@@oe@2-2-2013
21294015@unknown@formal@none@1@S@In an unrelated program in which the Labor Department does estimate output per employee for more than two-thirds of federal civilian employees, it found an average annual rate of productivity improvement of 1.7% during the 1980s.@@@@1@36@@oe@2-2-2013
21294016@unknown@formal@none@1@S@Even if it is assumed that productivity rose no more than half as quickly in the rest of the nonbusiness sector, this Labor Department estimate indicates a downward bias in the real GNP estimates of 0.2 percentage point a year, on average.@@@@1@42@@oe@2-2-2013
21294017@unknown@formal@none@1@S@The federal productivity estimators use labor input, rather than output, data for their calculations of half of private financial and service industries as well.@@@@1@24@@oe@2-2-2013
21294018@unknown@formal@none@1@S@Independent estimates of output in those industries, including one by the Department of Labor for banking, suggests that productivity in finance and services appears to have risen by an average of at least 1.5% a year between 1948 and 1988.@@@@1@40@@oe@2-2-2013
21294019@unknown@formal@none@1@S@Because finance and services contribute 10% to final business product, missing these productivity improvements depresses the overall growth rate by 0.15% a year.@@@@1@23@@oe@2-2-2013
21294020@unknown@formal@none@1@S@The second source of error in growth statistics is the use of inappropriate deflators to adjust for price changes.@@@@1@19@@oe@2-2-2013
21294021@unknown@formal@none@1@S@I estimate that these mismeasurements as detailed by Martin N. Baily and Robert J. Gordon add a further 0.12 percentage point to the downward bias in the growth rate of real business product.@@@@1@33@@oe@2-2-2013
21294022@unknown@formal@none@1@S@Finally, the official estimates understate growth because they make inadequate allowance for improvements in quality of goods and services.@@@@1@19@@oe@2-2-2013
21294023@unknown@formal@none@1@S@In 1985, a new price index for computers adjusted for changes in performance characteristics was introduced, and that resulted in a significantly larger increase in real outlays for durable goods than the earlier estimates had showed.@@@@1@36@@oe@2-2-2013
21294024@unknown@formal@none@1@S@Since then, further research argues that failure to take account of quality improvements has contributed a total of at least 0.26 percentage point to the downward bias in the growth rate.@@@@1@31@@oe@2-2-2013
21294025@unknown@formal@none@1@S@In sum, the biases ennumerated above indicate a 0.7 percentage point understatement in growth of total real GNP.@@@@1@18@@oe@2-2-2013
21294026@unknown@formal@none@1@S@For the private domestic business economy, the bias was a bit over 0.5 percentage point.@@@@1@15@@oe@2-2-2013
21294027@unknown@formal@none@1@S@In other words, the growth rates of both total GNP and real private business product per labor hour have been underestimated by about 20%.@@@@1@24@@oe@2-2-2013
21294028@unknown@formal@none@1@S@Mr. Kendrick is professor emeritus of economics at George Washington University.@@@@1@11@@oe@2-2-2013
21294029@unknown@formal@none@1@S@He is co-author of "Personal Productivity: How to Increase Your Satisfaction in Living" (M.E. Sharp, 1988).@@@@1@16@@oe@2-2-2013
21295001@unknown@formal@none@1@S@Union Carbide Corp. said third-quarter net income plunged 35% from a year earlier on weakness in the company's mainstay chemicals and plastics business.@@@@1@23@@oe@2-2-2013
21295002@unknown@formal@none@1@S@Net was $139 million, or 98 cents a share, for the quarter, compared with $213 million, or $1.56 a share, a year ago.@@@@1@23@@oe@2-2-2013
21295003@unknown@formal@none@1@S@Sales were $2.14 billion, up 1.6% from $2.11 billion the previous year.@@@@1@12@@oe@2-2-2013
21295004@unknown@formal@none@1@S@Carbide, like other companies with a heavy reliance on the so-called commodity end of the chemicals industry, was expected to post earnings sharply lower than in an exceptionally strong 1988 third quarter.@@@@1@32@@oe@2-2-2013
21295005@unknown@formal@none@1@S@But the company's latest quarter was a few pennies a share lower than the more pessimistic projections on Wall Street.@@@@1@20@@oe@2-2-2013
21295006@unknown@formal@none@1@S@"It certainly wasn't a disaster, but it does show weakness" in some of the company's chief markets, said George Krug, a chemicals-industry analyst at Oppenheimer & Co.@@@@1@27@@oe@2-2-2013
21295007@unknown@formal@none@1@S@In New York Stock Exchange composite trading, Carbide closed at $24.50 a share, down 50 cents.@@@@1@16@@oe@2-2-2013
21295008@unknown@formal@none@1@S@Prices for polyethylene, a common plastic and an important Carbide product, started to fall early this year; the slide accelerated in the third quarter as buyers continued to trim inventories.@@@@1@30@@oe@2-2-2013
21295009@unknown@formal@none@1@S@Prices also fell for ethylene oxide and glycols, products used in making antifreeze.@@@@1@13@@oe@2-2-2013
21295010@unknown@formal@none@1@S@Some producers of polyethylene, figuring the inventory reductions are near an end, have announced price boosts.@@@@1@16@@oe@2-2-2013
21295011@unknown@formal@none@1@S@The first real test of whether prices have hit bottom may come in the next several weeks, when the new prices become effective.@@@@1@23@@oe@2-2-2013
21295012@unknown@formal@none@1@S@A Carbide spokesman said "the conditions are right for the increase to hold."@@@@1@13@@oe@2-2-2013
21295013@unknown@formal@none@1@S@For the third quarter, operating profit from Carbide's chemicals and plastics business fell to $238 million from $352 million a year ago, before accounting for taxes and interest expense.@@@@1@29@@oe@2-2-2013
21295014@unknown@formal@none@1@S@Operating profit from carbon products, such as graphite electrodes, also declined, to $6 million from $20 million.@@@@1@17@@oe@2-2-2013
21295015@unknown@formal@none@1@S@In the industrial-gases segment, operating profit climbed to $87 million from $58 million.@@@@1@13@@oe@2-2-2013
21295016@unknown@formal@none@1@S@The latest quarter included a gain of about $62 million on the sale of the company's urethane polyols and propylene glycols businesses.@@@@1@22@@oe@2-2-2013
21295017@unknown@formal@none@1@S@Propylene glycols are used in making personal-care products such as shampoo, and urethane polyols are used in making the polyurethane foam found in furniture cushioning and other products.@@@@1@28@@oe@2-2-2013
21295018@unknown@formal@none@1@S@That gain was mostly offset by a loss of about $55 million from a write-down in its polysilicon business.@@@@1@19@@oe@2-2-2013
21295019@unknown@formal@none@1@S@Polysilicon is used in making integrated circuits.@@@@1@7@@oe@2-2-2013
21295020@unknown@formal@none@1@S@For the nine months, net totaled $526 million, or $3.74 a share, up 5% from $501 million, or $3.71 a share, a year ago.@@@@1@24@@oe@2-2-2013
21295021@unknown@formal@none@1@S@Sales rose 7.7% to $6.66 billion from $6.19 billion.@@@@1@9@@oe@2-2-2013
21296001@unknown@formal@none@1@S@At least 10 states are resisting Drexel Burnham Lambert Inc.'s nationwide effort to settle its legal troubles, and some might instead try to revoke the firm's license to sell securities within their borders.@@@@1@33@@oe@2-2-2013
21296002@unknown@formal@none@1@S@The reluctance of some states to let Drexel off the hook could hamper the firm's attempts to polish its image after its guilty plea to six felonies last month, say several people familiar with the discussions.@@@@1@36@@oe@2-2-2013
21296003@unknown@formal@none@1@S@Up to now, Drexel has made a rapid-fire series of settlements with 25 states and the commonwealth of Puerto Rico.@@@@1@20@@oe@2-2-2013
21296004@unknown@formal@none@1@S@Just yesterday, New Hampshire announced it made a $75,000 settlement with Drexel, a record-tying fine for a securities-law matter in that state.@@@@1@22@@oe@2-2-2013
21296005@unknown@formal@none@1@S@These states have been entering into settlements with Drexel as part of the firm's efforts to operate freely anywhere in the U.S. despite its record as an admitted felon.@@@@1@29@@oe@2-2-2013
21296006@unknown@formal@none@1@S@But individuals familiar with the generally successful Drexel talks say the firm is meeting resistance from some big states, including New Jersey, New York, California, Pennsylvania, Connecticut and Missouri.@@@@1@29@@oe@2-2-2013
21296007@unknown@formal@none@1@S@Officials in some of these states say they don't want to simply accept the settlements offered by Drexel.@@@@1@18@@oe@2-2-2013
21296008@unknown@formal@none@1@S@They question if Drexel is getting easier treatment than the many small penny-stock firms whose brokerage licenses are routinely revoked.@@@@1@20@@oe@2-2-2013
21296009@unknown@formal@none@1@S@Drexel has to settle with state securities regulators in the wake of its criminal guilty plea and a related civil settlement with the Securities and Exchange Commission that includes payment of $650 million in penalties.@@@@1@35@@oe@2-2-2013
21296010@unknown@formal@none@1@S@These stem from a two-year federal investigation of insider trading and securities fraud on Wall Street.@@@@1@16@@oe@2-2-2013
21296011@unknown@formal@none@1@S@Ohio, the District of Columbia, Tennessee and Illinois have been less resistant to Drexel than the other six states, but nonetheless have refused to settle so far, say those familiar with the discussions.@@@@1@33@@oe@2-2-2013
21296012@unknown@formal@none@1@S@Drexel says it doesn't expect any of its state brokerage licenses will be revoked, and even if some are, its securities business wouldn't be directly hurt.@@@@1@26@@oe@2-2-2013
21296013@unknown@formal@none@1@S@It already has sold its retail, or individual-investor, brokerage network; securities firms don't need brokerage licenses for non-retail activities such as investment banking.@@@@1@23@@oe@2-2-2013
21296014@unknown@formal@none@1@S@Still, if nothing else, a revoked brokerage license could be a burden because it must be disclosed in many of the transactions in which Drexel could be involved.@@@@1@28@@oe@2-2-2013
21296015@unknown@formal@none@1@S@Securities regulators praise Drexel for its energetic effort, led by government-approved general counsel Saul S. Cohen, to settle its legal problems with the states.@@@@1@24@@oe@2-2-2013
21296016@unknown@formal@none@1@S@But they disagree about the message these settlements give to the public.@@@@1@12@@oe@2-2-2013
21296017@unknown@formal@none@1@S@"There was a lot of internal debate about that specific issue," said Susan Bryant, Oklahoma's chief securities regulator and president of the North American Securities Administrators Association, which drafted a voluntary settlement plan for the states with Drexel.@@@@1@38@@oe@2-2-2013
21296018@unknown@formal@none@1@S@The question, she said, is whether Drexel should be allowed to pay and move on, or "whether you should (simply) revoke the license when someone is convicted of a felony."@@@@1@30@@oe@2-2-2013
21296019@unknown@formal@none@1@S@While Ms. Bryant's state went ahead and accepted Drexel's settlement offer of $25,000, she said: "I don't have any argument with those who came to different conclusions.@@@@1@27@@oe@2-2-2013
21296020@unknown@formal@none@1@S@I can see both sides."@@@@1@5@@oe@2-2-2013
21296021@unknown@formal@none@1@S@Similarly, Alfred Rubega, New Hampshire's director of securities regulation, said his state hadn't received any complaints about Drexel, so it really couldn't press the issue.@@@@1@25@@oe@2-2-2013
21296022@unknown@formal@none@1@S@Still, "I understand the reasons" that other states are holding out, he said.@@@@1@13@@oe@2-2-2013
21296023@unknown@formal@none@1@S@Mr. Cohen, the Drexel general counsel, said, "I don't think, as we say in investment banking, that `by the end of the day' we'll be losing any licenses."@@@@1@28@@oe@2-2-2013
21296024@unknown@formal@none@1@S@Asked about states that are taking a hard line, he said, "There are states that have asked for additional information, which we are providing to them."@@@@1@26@@oe@2-2-2013
21296025@unknown@formal@none@1@S@Mr. Cohen said more than $2.8 million has been paid to 26 states and that Drexel still expects to pay out a total of $11.5 million.@@@@1@26@@oe@2-2-2013
21296026@unknown@formal@none@1@S@By the end of this week, Drexel should have another three to four settlements, Mr. Cohen said.@@@@1@17@@oe@2-2-2013
21296027@unknown@formal@none@1@S@"The rate we're going, I think that by the end of the month, we're looking to have a total of 30 to 35," he said.@@@@1@25@@oe@2-2-2013
21296028@unknown@formal@none@1@S@That total would be important for Drexel.@@@@1@7@@oe@2-2-2013
21296029@unknown@formal@none@1@S@The investment bank has previously announced that as part of its punishment it would create an independent foundation to promote ethical behavior in the securities industry.@@@@1@26@@oe@2-2-2013
21296030@unknown@formal@none@1@S@A proviso to that promise is that a minimum of 35 states reach settlement agreements before next Tuesday.@@@@1@18@@oe@2-2-2013
21296031@unknown@formal@none@1@S@There are, according to several securities commissioners, at least 16 states that are either close to settlements with Drexel or who don't appear opposed to settling.@@@@1@26@@oe@2-2-2013
21296032@unknown@formal@none@1@S@Drexel's proposed state fines have been based on a state's population and on the size of Drexel's business in the state.@@@@1@21@@oe@2-2-2013
21296033@unknown@formal@none@1@S@New Jersey, for example, was asked to accept $300,000, but refused.@@@@1@11@@oe@2-2-2013
21296034@unknown@formal@none@1@S@The state isn't ruling out revoking Drexel's brokerage license.@@@@1@9@@oe@2-2-2013
21296035@unknown@formal@none@1@S@The state can also bar Drexel as an investment adviser.@@@@1@10@@oe@2-2-2013
21296036@unknown@formal@none@1@S@State officials won't describe their position in detail, but James McLelland Smith, state securities chief, said: "We really are still looking at it and have informed (Drexel) that the proposal is really not sufficient for settlement."@@@@1@36@@oe@2-2-2013
21296037@unknown@formal@none@1@S@Connecticut already has issued a "notice of intent" to revoke Drexel's brokerage license.@@@@1@13@@oe@2-2-2013
21296038@unknown@formal@none@1@S@It is one of the states that have met with Mr. Cohen and asked for additional information about investors' accounts and other matters.@@@@1@23@@oe@2-2-2013
21296039@unknown@formal@none@1@S@"This particular issue goes to the very integrity of the capital-formation market," state Banking Commissioner Howard Brown said.@@@@1@18@@oe@2-2-2013
21296040@unknown@formal@none@1@S@A banking department spokesman added: "Commissioner Brown doesn't feel that money alone is the issue here."@@@@1@16@@oe@2-2-2013
21296041@unknown@formal@none@1@S@Particularly touchy are the cases of New York, which is Drexel's base, and California, the base of Drexel's highly profitable junk-bond operation that led to the firm's legal difficulties.@@@@1@29@@oe@2-2-2013
21296042@unknown@formal@none@1@S@Neither state has settled, and officials in the two states won't discuss their reasons for not doing so.@@@@1@18@@oe@2-2-2013
21296043@unknown@formal@none@1@S@But Drexel has made it clear it could mount a significant legal battle in each state if its license is revoked, according to state officials.@@@@1@25@@oe@2-2-2013
21296044@unknown@formal@none@1@S@Ms. Bryant, the head of the state securities group, said Drexel has done a better job of settling with the states than E.F. Hutton did after its guilty plea to a massive check-kiting scheme several years ago.@@@@1@37@@oe@2-2-2013
21296045@unknown@formal@none@1@S@Still, she said, Drexel's trouble with some states isn't a bad thing.@@@@1@12@@oe@2-2-2013
21296046@unknown@formal@none@1@S@"This process should point out that it's not going to be easy for a firm that's convicted of a felony to immediately jump back into the retail business," Ms. Bryant said.@@@@1@31@@oe@2-2-2013
21296047@unknown@formal@none@1@S@"We need to have somebody worried so they don't do this again."@@@@1@12@@oe@2-2-2013
21296048@unknown@formal@none@1@S@These are the 26 states, including the commonwealth of Puerto Rico, that have settled with Drexel: Alaska, Arkansas, Delaware, Georgia, Hawaii, Idaho, Indiana, Iowa, Kansas, Kentucky, Maine, Maryland, Minnesota, Mississippi, New Hampshire, New Mexico, North Dakota, Oklahoma, Oregon, South Carolina, South Dakota, Utah, Vermont, Washington, Wyoming and Puerto Rico.@@@@1@49@@oe@2-2-2013
21297001@unknown@formal@none@1@S@Time Warner Inc. reported a third-quarter net loss of $176 million, or $2.88 cents a share, reflecting acquisition costs for a 59.3% stake in Warner Communications Inc. and the purchase method of accounting for the transaction.@@@@1@36@@oe@2-2-2013
21297002@unknown@formal@none@1@S@Separately, Warner reported a net loss of $106 million, or 56 cents a share, including merger expenses of $100 million and $120 million in charges associated with stock-appreciation-based compensation plans.@@@@1@30@@oe@2-2-2013
21297003@unknown@formal@none@1@S@Time Warner is in the process of completing its acquisition of the remaining Warner shares.@@@@1@15@@oe@2-2-2013
21297004@unknown@formal@none@1@S@Time Warner emphasized in a news release that it should be evaluated based on its cash flow, which the company defined as earnings before interest, taxes, depreciation and amortization.@@@@1@29@@oe@2-2-2013
21297005@unknown@formal@none@1@S@On a pro-forma basis, assuming the merger was effective Jan 1, 1988, including the results from both Time Inc. and all of Warner, that cash flow figure would be $526 million for the latest quarter, more than double the comparable figure a year ago, or $242 million, according to Time Warner.@@@@1@51@@oe@2-2-2013
21297006@unknown@formal@none@1@S@Some analysts at least are buying that argument, and weren't alarmed by the losses.@@@@1@14@@oe@2-2-2013
21297007@unknown@formal@none@1@S@"What really matters is the operating income of the divisions: I look at these numbers and I say, these businesses are doing well," said Mark Manson, a vice president of Donaldson, Lufkin & Jenrette Securities Corp.@@@@1@36@@oe@2-2-2013
21297008@unknown@formal@none@1@S@"For example, Warner made more than $100 million from filmed entertainment in three months.@@@@1@14@@oe@2-2-2013
21297009@unknown@formal@none@1@S@That's a big number.@@@@1@4@@oe@2-2-2013
21297010@unknown@formal@none@1@S@Warner also had a gain of more than 13% from records and music publishing, even though the domestic record business was sluggish this summer."@@@@1@24@@oe@2-2-2013
21297011@unknown@formal@none@1@S@In the year-ago third quarter, Time on its own reported net income of $81 million, or $1.42 a share.@@@@1@19@@oe@2-2-2013
21297012@unknown@formal@none@1@S@Combined revenue for the latest quarter of Time Warner was $2.2 billion, compared with the year-ago Time revenue of $1.1 billion.@@@@1@21@@oe@2-2-2013
21297013@unknown@formal@none@1@S@On a pro forma basis, including all of Warner's earnings, Time Warner had a third-quarter loss of $217 million, compared with a $342 million loss a year earlier.@@@@1@28@@oe@2-2-2013
21297014@unknown@formal@none@1@S@On the same basis, revenue rose to $2.7 billion from $2.2 billion.@@@@1@12@@oe@2-2-2013
21297015@unknown@formal@none@1@S@For the third quarter, Warner's $106 million loss compared with a year-ago loss of $113 million, or 90 cents a share.@@@@1@21@@oe@2-2-2013
21297016@unknown@formal@none@1@S@Revenue rose to $1.5 billion from $1.1 billion.@@@@1@8@@oe@2-2-2013
21297017@unknown@formal@none@1@S@The 1988 figures were restated to include the results of Lorimar Telepictures Corp., which Warner acquired in January.@@@@1@18@@oe@2-2-2013
21297018@unknown@formal@none@1@S@Time Warner's operating earnings got a boost from Warner's record box-office results.@@@@1@12@@oe@2-2-2013
21297019@unknown@formal@none@1@S@"Batman" alone has racked up more than $247 million in box-office receipts to date, making it Warner Bros.' largest grossing film ever.@@@@1@22@@oe@2-2-2013
21297020@unknown@formal@none@1@S@"Lethal Weapon II" was also a big hit.@@@@1@8@@oe@2-2-2013
21297021@unknown@formal@none@1@S@Warner also contributed record results from its music business, where unit sales of compact discs rose more than 50% from a year ago, the company said, helped by Prince's "Batman" soundtrack.@@@@1@31@@oe@2-2-2013
21297022@unknown@formal@none@1@S@Time Warner said its cable division turned in a 77% increase in operating cash flow, to $166 million from $94 million, reflecting higher per-subscriber revenue.@@@@1@25@@oe@2-2-2013
21297023@unknown@formal@none@1@S@In addition, the 1988 results included a $20 million charge reflecting a reserve for relocation related expenses at American Television & Communications Corp.@@@@1@23@@oe@2-2-2013
21297024@unknown@formal@none@1@S@On the other hand, Time Warner said its operating cash flow declined in the quarter for its magazine division, its books division and the Home Box Office programming division.@@@@1@29@@oe@2-2-2013
21297025@unknown@formal@none@1@S@In magazines, higher advertising revenues at Sports Illustrated and Fortune were offset by lower ad revenue for other major magazines.@@@@1@20@@oe@2-2-2013
21297026@unknown@formal@none@1@S@The programming division saw a decline in operating cash flow because the year-ago quarter included a $12 million dividend from Turner Broadcasting System and because the quarter includes expenses associated with the Nov. 15 launch of HBO's Comedy Channel.@@@@1@39@@oe@2-2-2013
21297027@unknown@formal@none@1@S@In New York Stock Exchange composite trading, Time Warner closed at $138.625 a share, up $1.875, while Warner closed at $63.875 a share, up 12.5 cents.@@@@1@26@@oe@2-2-2013
21298001@unknown@formal@none@1@S@Robert J. Penn, president and chief executive officer, will take early retirement from this steelmaker Dec 31.@@@@1@17@@oe@2-2-2013
21298002@unknown@formal@none@1@S@William S. Leavitt, chairman, said Mr. Penn, 58 years old, would continue as a consultant and would work with the board in selecting a successor.@@@@1@25@@oe@2-2-2013
21298003@unknown@formal@none@1@S@UNR recently emerged from bankruptcy-law proceedings that left 64% of the reorganized company's common stock in the hands of trustees of an asbestos-disease claims trust.@@@@1@25@@oe@2-2-2013
21298004@unknown@formal@none@1@S@The company said it would have no further comment.@@@@1@9@@oe@2-2-2013
21298005@unknown@formal@none@1@S@Mr. Leavitt, 37, was elected chairman earlier this year by the company's new board, having served as vice president for legal and corporate affairs.@@@@1@24@@oe@2-2-2013
21298006@unknown@formal@none@1@S@His father, David S. Leavitt, was chairman and chief executive until his death in an accident five years ago, at which time Mr. Penn was named president.@@@@1@27@@oe@2-2-2013
21299001@unknown@formal@none@1@S@Some House Democrats are trying to head off an appointment by President Bush to the board that oversees the savings-and-loan bailout, contending that the prospective nominee is the head of troubled banks himself.@@@@1@33@@oe@2-2-2013
21299002@unknown@formal@none@1@S@Four Democrats on the House Banking Committee sent President Bush a letter stating their concerns about the expected appointment of James Simmons, an Arizona banker and former fund-raiser for Mr. Bush, to the Oversight Board of the Resolution Trust Corp.@@@@1@40@@oe@2-2-2013
21299003@unknown@formal@none@1@S@The Oversight Board, created in the savings-and-loan law signed in August, sets policy for the RTC, which will sell hundreds of the nation's sick thrifts and billions of dollars of their assets.@@@@1@32@@oe@2-2-2013
21299004@unknown@formal@none@1@S@Treasury Secretary Nicholas Brady, Federal Reserve Board Chairman Alan Greenspan and Housing and Urban Development Secretary Jack Kemp are members of the board.@@@@1@23@@oe@2-2-2013
21299005@unknown@formal@none@1@S@President Bush must appoint two other members, one a Democrat and one a Republican.@@@@1@14@@oe@2-2-2013
21299006@unknown@formal@none@1@S@An administration official confirmed last week that Mr. Simmons, the chairman of Valley National Bank in Phoenix, is the Republican appointee, and that a security clearance was under way.@@@@1@29@@oe@2-2-2013
21299007@unknown@formal@none@1@S@The Democratic appointee hasn't been determined, the official said.@@@@1@9@@oe@2-2-2013
21299008@unknown@formal@none@1@S@Mr. Simmons declined to comment, and the White House said the congressmen's letter is under review.@@@@1@16@@oe@2-2-2013
21299009@unknown@formal@none@1@S@The letter, dated last Thursday, cited the losses at Valley National, and at United Bank, also of Phoenix, where Mr. Simmons was chairman for 29 years.@@@@1@26@@oe@2-2-2013
21299010@unknown@formal@none@1@S@Both banks have been battered, as have other Arizona banks, by falling real estate prices.@@@@1@15@@oe@2-2-2013
21299011@unknown@formal@none@1@S@Valley National, for example, had $470 million in problem assets as of June.@@@@1@13@@oe@2-2-2013
21299012@unknown@formal@none@1@S@"We believe that there are numerous other candidates more qualified for this important position and we encourage you to give them your thorough consideration before making this key RTC appointment," the letter said.@@@@1@33@@oe@2-2-2013
21299013@unknown@formal@none@1@S@"The RTC needs the most able, competent management available."@@@@1@9@@oe@2-2-2013
21299014@unknown@formal@none@1@S@But Mr. Simmons has long ties to both Republicans and banking.@@@@1@11@@oe@2-2-2013
21299015@unknown@formal@none@1@S@He was co-chairman of Mr. Bush's Arizona campaign committee in last year's election, and also worked for Mr. Bush in the 1980 election.@@@@1@23@@oe@2-2-2013
21299016@unknown@formal@none@1@S@The two met more than 30 years ago, when Mr. Simmons worked for Commercial Bank & Trust Co. of Midland, Texas, where Mr. Bush was an organizing director.@@@@1@28@@oe@2-2-2013
21299017@unknown@formal@none@1@S@In 1986, Mr. Simmons also served on a committee of businessmen headed by William Seidman, chairman of the Federal Deposit Insurance Corp. and the Resolution Trust Corp.@@@@1@27@@oe@2-2-2013
21299018@unknown@formal@none@1@S@That committee determined to open Arizona to banking across state lines.@@@@1@11@@oe@2-2-2013
21299019@unknown@formal@none@1@S@Arizona Trend magazine referred to Mr. Simmons this year as one of the 25 most influential people in the state.@@@@1@20@@oe@2-2-2013
21299020@unknown@formal@none@1@S@The letter to Mr. Bush was signed by Reps. Bruce Vento (D., Minn.), the chairman of the Banking Committee's RTC Task Force, Thomas McMillen (D., Md.), Kweisi Mfume (D., Md.) and Paul Kanjorski (D., Pa.).@@@@1@35@@oe@2-2-2013