21800001@unknown@formal@none@1@S@Congress sent President Bush an $18.4 billion fiscal 1990 Treasury and Postal Service bill providing $5.5 billion for the Internal Revenue Service and increasing the Customs Service's air-interdiction program nearly a third.@@@@1@32@@oe@2-2-2013
21800002@unknown@formal@none@1@S@Final approval came on a simple voice vote in the Senate, and the swift passage contrasted with months of negotiations over the underlying bill which is laced with special-interest provisions for both members and the executive branch.@@@@1@37@@oe@2-2-2013
21800003@unknown@formal@none@1@S@An estimated $33 million was added for university and science grants, including $1.5 million for Smith College.@@@@1@17@@oe@2-2-2013
21800004@unknown@formal@none@1@S@And Southwest lawmakers were a driving force behind $54.6 million for U.S.-Mexico border facilities, or more than double the administration's request.@@@@1@21@@oe@2-2-2013
21800005@unknown@formal@none@1@S@More than $1.8 million is allocated for pensions and expenses for former presidents, and the budget for the official residence of Vice President Quayle is more than doubled, with $200,000 designated for improvements to the property.@@@@1@36@@oe@2-2-2013
21800006@unknown@formal@none@1@S@Even the Office of Management and Budget is remembered with an extra $1 million to help offset pay costs that other government departments are being asked to absorb.@@@@1@28@@oe@2-2-2013
21800007@unknown@formal@none@1@S@Within the IRS, nearly $1.95 billion is provided for processing tax returns, a 12% increase over fiscal 1989 and double what the government was spending five years ago.@@@@1@28@@oe@2-2-2013
21800008@unknown@formal@none@1@S@Investigation and taxpayer service accounts would grow to $1.6 billion, and Congress specifically added $7.4 million for stepped up criminal investigations of money laundering related to drug traffic.@@@@1@28@@oe@2-2-2013
21800009@unknown@formal@none@1@S@The large increase in Customs Service air-interdiction funds is also intended to counter smuggling, and the annual appropriations level has more than quadrupled in five years.@@@@1@26@@oe@2-2-2013
21800010@unknown@formal@none@1@S@The $196.7 million provided for fiscal 1990 anticipates the purchase of a Lockheed P-3 surveillance aircraft and five Cessna Citation II jets.@@@@1@22@@oe@2-2-2013
21800011@unknown@formal@none@1@S@Despite administration reservations, the plan has had the quiet backing of customs officials as well as influential lawmakers from Cessna's home state, Kansas.@@@@1@23@@oe@2-2-2013
21800012@unknown@formal@none@1@S@Among legislative provisions attached to the bill is a ban on any Treasury Department expenditure for enforcement of a 1986 tax provision intended to counter discrimination in employee-benefit plans.@@@@1@29@@oe@2-2-2013
21800013@unknown@formal@none@1@S@Small-business interests have lobbied against the so-called Section 89 tax rules.@@@@1@11@@oe@2-2-2013
21800014@unknown@formal@none@1@S@Repeal is considered likely now, but the Treasury Department bill has been used as a vehicle to raise the profile of the issue and block any action in the interim.@@@@1@30@@oe@2-2-2013
21800015@unknown@formal@none@1@S@Less noticed is a bit of legislative legerdemain by Houston Republicans on behalf of HEI Corp. of Texas to retroactively "move" a Missouri hospital from one county to the next to justify higher Medicare reimbursements.@@@@1@35@@oe@2-2-2013
21800016@unknown@formal@none@1@S@The provision seeks to wipe out an estimated $1.4 million in claims made by the Health Care Finance Administration against HEI, which owned the hospital in Sullivan, Mo., during most of the four-year period -- 1983-1987 -- covered in the amendment.@@@@1@41@@oe@2-2-2013
21800017@unknown@formal@none@1@S@In a separate development, a private meeting is scheduled this morning between House Appropriations Committee Chairman Jamie Whitten (D., Miss.) and Sen. Dale Bumpers (D., Ark.) in an effort to end a dispute which for two weeks has delayed action on an estimated $44 billion agriculture bill.@@@@1@47@@oe@2-2-2013
21800018@unknown@formal@none@1@S@A House-Senate conference reached agreement Oct. 5 on virtually all major provisions of the bill, but final settlement has been stalled because of differences between the two men over the fate of a modest Arkansas-based program to provide technical information to farmers seeking to reduce their dependence on chemical fertilizers and pesticides.@@@@1@52@@oe@2-2-2013
21800019@unknown@formal@none@1@S@The program's nonprofit sponsors received $900,000 in fiscal 1989 through an Extension Service grant, but Mr. Whitten has been adamant in insisting that the program be cut in 1990.@@@@1@29@@oe@2-2-2013
21800020@unknown@formal@none@1@S@The 79-year-old Mississippian takes a more orthodox, entrenched view of agriculture policy than those in the movement to reduce chemical use, but as a master of pork-barrel politics, he is believed to be annoyed as well that the project moved to Arkansas from a Tennessee center near Memphis and the northern Mississippi border.@@@@1@53@@oe@2-2-2013
21801001@unknown@formal@none@1@S@Michael F. Klatman, director of corporate public relations at Data General Corp., was named to the new position of vice president, corporate communications, of this maker of data storage equipment.@@@@1@30@@oe@2-2-2013
21802001@unknown@formal@none@1@S@B.A.T Industries PLC may delay aspects of its defensive restructuring plan -- including the sale of its Saks Fifth Avenue and Marshall Field units -- in the wake of the current upheaval in financial markets, company officials said.@@@@1@38@@oe@2-2-2013
21802002@unknown@formal@none@1@S@The British conglomerate, planning its own defensive restructuring to fight off a #13.35 billion ($21.03 billion) takeover bid by Anglo-French financier Sir James Goldsmith, intends to press ahead with an extraordinary shareholder vote today to clear the way for its value-boosting measures.@@@@1@42@@oe@2-2-2013
21802003@unknown@formal@none@1@S@If anything, the gyrations in world stock markets -- and in B.A.T's share price -- since last Friday's sharp Wall Street sell-off have increased the likelihood of shareholder approval for the restructuring, analysts and several big institutional holders said.@@@@1@39@@oe@2-2-2013
21802004@unknown@formal@none@1@S@"Thank God we have some deal on the table," said Stewart Gilchrist, a director at Scottish Amicable Investment Managers, which intends to vote its roughly 1% stake in favor of the restructuring.@@@@1@32@@oe@2-2-2013
21802005@unknown@formal@none@1@S@Investors in B.A.T have been on a roller coaster.@@@@1@9@@oe@2-2-2013
21802006@unknown@formal@none@1@S@B.A.T has been London's best-performing blue chip over the past six months, up 40% against a 4% rise in the Financial Times 100-Share Index.@@@@1@24@@oe@2-2-2013
21802007@unknown@formal@none@1@S@But this week, B.A.T has been hit harder than other big U.K. stocks -- first by the market gyrations, then by Tuesday's San Francisco earthquake, which could leave B.A.T's Farmers Group Inc. insurance unit facing big claims.@@@@1@37@@oe@2-2-2013
21802008@unknown@formal@none@1@S@B.A.T rose five pence (eight cents) to 756 pence ($11.91) in London yesterday as a late market rally erased a 28-pence fall earlier in the day.@@@@1@26@@oe@2-2-2013
21802009@unknown@formal@none@1@S@To fight off predators, B.A.T plans to spin off about $6 billion in assets, largely by selling such U.S. retailing units as Marshall Field and Saks and by floating its big paper and U.K. retailing business via share issues to existing holders.@@@@1@42@@oe@2-2-2013
21802010@unknown@formal@none@1@S@Proceeds will help pay for a planned buy-back of 10% of its shares and a 50% dividend increase.@@@@1@18@@oe@2-2-2013
21802011@unknown@formal@none@1@S@"I think the restructuring will get the required support," said Michael Pacitti, an analyst at London stockbroker UBS Phillips & Drew.@@@@1@21@@oe@2-2-2013
21802012@unknown@formal@none@1@S@"The shareholders effectively will support the share price by clearing the share buy-back."@@@@1@13@@oe@2-2-2013
21802013@unknown@formal@none@1@S@But B.A.T's restructuring, which was never going to happen quickly, now will take longer because of the market upheaval.@@@@1@19@@oe@2-2-2013
21802014@unknown@formal@none@1@S@Company officials, holders and analysts who previously expected the disposals to be substantially complete by the end of next year's first half now say the market gyrations could delay the actions well into the second half.@@@@1@36@@oe@2-2-2013
21802015@unknown@formal@none@1@S@"We aren't forced sellers.@@@@1@4@@oe@2-2-2013
21802016@unknown@formal@none@1@S@We don't have an absolute deadline and if market conditions are truly awful we might decide it is not the right time," to take particular steps, said Michael Prideaux, a B.A.T spokesman.@@@@1@32@@oe@2-2-2013
21802017@unknown@formal@none@1@S@Even if B.A.T receives approval for the restructuring, the company will remain in play, say shareholders and analysts, though the situation may unfold over the next 12 months, rather than six.@@@@1@31@@oe@2-2-2013
21802018@unknown@formal@none@1@S@The new B.A.T will be a smaller tobacco and financial-services hybrid whose price-earnings ratio may more closely reflect the lower-growth tobacco business than the higher-multiple financial-services business, these holders believe.@@@@1@30@@oe@2-2-2013
21802019@unknown@formal@none@1@S@Thus B.A.T's restructuring may only make the company a more manageable target for other corporate predators -- possibly such acquisitive bidders as Hanson PLC.@@@@1@24@@oe@2-2-2013
21802020@unknown@formal@none@1@S@"The last few days will surely slow down the pace of events," says Scottish Amicable's Mr. Gilchrist.@@@@1@17@@oe@2-2-2013
21802021@unknown@formal@none@1@S@"But I wouldn't write off" Sir James or other potential bidders.@@@@1@11@@oe@2-2-2013
21802022@unknown@formal@none@1@S@Among possible delays, the sales of Saks and Marshall Field -- which were expected to be on the block soon after the crucial Christmas season -- may slide into the second quarter or second half.@@@@1@35@@oe@2-2-2013
21802023@unknown@formal@none@1@S@Analysts estimate that sales of the two businesses could raise roughly $2 billion.@@@@1@13@@oe@2-2-2013
21802024@unknown@formal@none@1@S@B.A.T isn't predicting a postponement because the units "are quality businesses and we are encouraged by the breadth of inquiries," said Mr. Prideaux.@@@@1@23@@oe@2-2-2013
21802025@unknown@formal@none@1@S@But the delay could happen if B.A.T doesn't get adequate bids, he said.@@@@1@13@@oe@2-2-2013
21802026@unknown@formal@none@1@S@People familiar with B.A.T say possible acquirers for the units include managers from both retailing chains, and General Cinema Corp., which is interested in bidding for Saks.@@@@1@27@@oe@2-2-2013
21802027@unknown@formal@none@1@S@Other potential bidders for parts of B.A.T's U.S. retail unit include Dillard Department Stores Inc., May Department Stores Co. and Limited Inc.@@@@1@22@@oe@2-2-2013
21802028@unknown@formal@none@1@S@B.A.T has declined to identify the potential bidders.@@@@1@8@@oe@2-2-2013
21802029@unknown@formal@none@1@S@Though Sir James has said he intends to mount a new bid for B.A.T once approval from U.S. insurance regulators is received, jitters over prospects for junk-bond financing and U.S. leverage buy-outs are making investors more skeptical about Sir James's prospects.@@@@1@41@@oe@2-2-2013
21802030@unknown@formal@none@1@S@His initial offer indicated he needed to raise as much as 80% of the takeover financing through the debt markets.@@@@1@20@@oe@2-2-2013
21802031@unknown@formal@none@1@S@Market uncertainty also clouds the outlook for B.A.T's attracting a premium price for its U.S. retailing properties.@@@@1@17@@oe@2-2-2013
21802032@unknown@formal@none@1@S@Finally, Tuesday's California earthquake initially knocked 3.7% off B.A.T's share price in London yesterday because of fears of the potential claims to Los Angeles-based Farmers, which has a substantial portion of its property and casualty exposure in California.@@@@1@38@@oe@2-2-2013
21802033@unknown@formal@none@1@S@On Farmers, Mr. Prideaux said it is too early to quantify the level of potential claims.@@@@1@16@@oe@2-2-2013
21802034@unknown@formal@none@1@S@He added B.A.T "has no expectation of a material impact on Farmers.@@@@1@12@@oe@2-2-2013
21803001@unknown@formal@none@1@S@Bridge and highway collapses will disrupt truck and auto transportation in the San Francisco Bay area for months to come.@@@@1@20@@oe@2-2-2013
21803002@unknown@formal@none@1@S@But rail, air and ocean-shipping links to the area escaped Tuesday's earthquake with only minor damage, and many are expected to be operating normally today, government and corporate transport officials said.@@@@1@31@@oe@2-2-2013
21803003@unknown@formal@none@1@S@Air traffic at San Francisco International Airport was running about 50% of normal yesterday afternoon, but airport officals said they expect a return to full operations by Saturday.@@@@1@28@@oe@2-2-2013
21803004@unknown@formal@none@1@S@The major gateway to Asia and one of the nation's 10 busiest airports was closed to all but emergency traffic from the time the quake hit Tuesday afternoon, until 6 a.m. PDT yesterday when controllers returned to the tower.@@@@1@39@@oe@2-2-2013
21803005@unknown@formal@none@1@S@Getting to and from the airport in coming weeks may be the problem, however.@@@@1@14@@oe@2-2-2013
21803006@unknown@formal@none@1@S@"People's ability to drive throughout the bay area is greatly restricted," said a spokesman for the American Automobile Association.@@@@1@19@@oe@2-2-2013
21803007@unknown@formal@none@1@S@Tom Schumacher, executive vice president and general manager of the California Trucking Association in Sacremento, said his organization urged trucking firms to halt all deliveries into the Bay area yesterday, except for emergency-medical supplies.@@@@1@34@@oe@2-2-2013
21803008@unknown@formal@none@1@S@"Some foodstuff shipments will probably resume Thursday," he said.@@@@1@9@@oe@2-2-2013
21803009@unknown@formal@none@1@S@"Right now most of the roads into the Bay area are closed, but the list of closings changes about every 20 minutes.@@@@1@22@@oe@2-2-2013
21803010@unknown@formal@none@1@S@This {Wednesday} morning the San Mateo bridge was open and now we are informed that it is closed," Mr. Schumacher said.@@@@1@21@@oe@2-2-2013
21803011@unknown@formal@none@1@S@United Parcel Service, Greenwich, Conn., said its operations in the San Francisco area have been reduced to 40% of normal.@@@@1@20@@oe@2-2-2013
21803012@unknown@formal@none@1@S@A UPS spokesman said that although none of the company's terminals, trucks or airplanes were damaged in the quake, road shutdowns and power failures have impeded its pickup and delivery of packages.@@@@1@32@@oe@2-2-2013
21803013@unknown@formal@none@1@S@The spokesman noted four-hour to five-hour traffic delays on the San Mateo bridge, for example.@@@@1@15@@oe@2-2-2013
21803014@unknown@formal@none@1@S@In addition, power failures prevented its package-sorting facilities from operating, causing delays.@@@@1@12@@oe@2-2-2013
21803015@unknown@formal@none@1@S@But freight railroads reported that damage to their facilities was relatively minor, with Santa Fe Pacific Corp.'s rail unit the least affected by the quake.@@@@1@25@@oe@2-2-2013
21803016@unknown@formal@none@1@S@Santa Fe stopped freight trains Tuesday night while its officials inspected track but resumed service at 10:45 p.m. when they found no damage.@@@@1@23@@oe@2-2-2013
21803017@unknown@formal@none@1@S@Union Pacific Corp.'s rail unit said that except for damage to shipping containers in its Oakland yard, its track, bridges and structures were unharmed.@@@@1@24@@oe@2-2-2013
21803018@unknown@formal@none@1@S@That railroad is operating trains but with delays caused by employees unable to get to work.@@@@1@16@@oe@2-2-2013
21803019@unknown@formal@none@1@S@Southern Pacific Transportation Co., the hardest hit of the three railroads in the Bay area, said service on its north-south coastline, which is used by an Amtrak train between Los Angeles and Seattle, was suspended temporarily because of kinked rails near the epicenter of the quake.@@@@1@46@@oe@2-2-2013
21803020@unknown@formal@none@1@S@But service on the line is expected to resume by noon today.@@@@1@12@@oe@2-2-2013
21803021@unknown@formal@none@1@S@"We had no serious damage on the railroad," said a Southern Pacific spokesman.@@@@1@13@@oe@2-2-2013
21803022@unknown@formal@none@1@S@"We have no problem to our freight service at all expect for the fact businesses are shut down."@@@@1@18@@oe@2-2-2013
21803023@unknown@formal@none@1@S@Amtrak said it suspended train service into its Oakland station, which sustained "heavy structural damage" during the quake.@@@@1@18@@oe@2-2-2013
21803024@unknown@formal@none@1@S@The passenger railroad said it terminated some runs in Sacramento, relying on buses to ferry passengers to the Bay area.@@@@1@20@@oe@2-2-2013
21803025@unknown@formal@none@1@S@Amtrak said it planned to resume some train operations to Oakland late yesterday.@@@@1@13@@oe@2-2-2013
21803026@unknown@formal@none@1@S@Rail-transit operations suffered little damage, according to Albert Engelken, deputy executive director of the American Public Transit Association in Washington.@@@@1@20@@oe@2-2-2013
21803027@unknown@formal@none@1@S@The Bay Area Rapid Transit "withstood the earthquake perfectly," said Mr. Engelken, adding that the rail system was running a full fleet of 45 trains during the day to provide an alternative for highway travelers.@@@@1@35@@oe@2-2-2013
21803028@unknown@formal@none@1@S@"The highway system is screwed up" by the earthquake, Mr. Engelken said.@@@@1@12@@oe@2-2-2013
21803029@unknown@formal@none@1@S@"The transit system is how people are going to be getting around."@@@@1@12@@oe@2-2-2013
21803030@unknown@formal@none@1@S@He added that San Francisco's trolley cars and trolley buses were also running at full service levels.@@@@1@17@@oe@2-2-2013
21803031@unknown@formal@none@1@S@Although air-traffic delays in San Francisco were significant yesterday, they didn't appear to spread to other airports.@@@@1@17@@oe@2-2-2013
21803032@unknown@formal@none@1@S@The earthquake shattered windows at San Francisco International's air-traffic control tower and rained pieces of the ceiling down on controllers, three of whom suffered minor injuries.@@@@1@26@@oe@2-2-2013
21803033@unknown@formal@none@1@S@Terminals at San Francisco International also were damaged, but the tower itself was intact.@@@@1@14@@oe@2-2-2013
21803034@unknown@formal@none@1@S@Tuesday night, thousands were diverted to other airports and had to wait a day to resume travel.@@@@1@17@@oe@2-2-2013
21803035@unknown@formal@none@1@S@Runways at San Francisco weren't damaged, but traffic was being limited yesterday to 27 arrivals and 27 departures an hour -- down from 33 to 45 an hour normally -- mainly because the noise level in the control tower was overwhelming without the windows, an FAA spokeswoman said.@@@@1@48@@oe@2-2-2013
21803036@unknown@formal@none@1@S@While the airport was closed, flights were diverted to airports in Sacramento and Stockton, Calif.; Reno and Las Vegas, Nev.; and Los Angeles.@@@@1@23@@oe@2-2-2013
21803037@unknown@formal@none@1@S@United Airlines, the largest carrier at San Francisco, was operating only 50% of its scheduled service in and out of the area because of damage to its terminal, which in turn was causing delays for travelers headed to the Bay area.@@@@1@41@@oe@2-2-2013
21803038@unknown@formal@none@1@S@A United spokesman said 14 of its 21 gates were unusable, mainly because of water damage caused when a sprinkler system was triggered by the tremors.@@@@1@26@@oe@2-2-2013
21803039@unknown@formal@none@1@S@The United spokesman said none of its people were injured at the airport; in fact, as the airport was being evacuated Tuesday night, two babies were born.@@@@1@27@@oe@2-2-2013
21803040@unknown@formal@none@1@S@Yesterday, the United ticket counter was active, with people trying to get flights out, but the airline said demand for seats into the city also was active, with people trying to get there to help family and friends.@@@@1@38@@oe@2-2-2013
21803041@unknown@formal@none@1@S@The airports in San Jose and Oakland were both fully operational by noon yesterday, the Federal Aviation Administration said.@@@@1@19@@oe@2-2-2013
21803042@unknown@formal@none@1@S@In terms of diversions, Denver's Stapleton International may have experienced the most far-flung: A United flight from Japan was rerouted there.@@@@1@21@@oe@2-2-2013
21803043@unknown@formal@none@1@S@"I think that's the first nonstop commercial passenger flight from Japan to land here," an airport spokesman said.@@@@1@18@@oe@2-2-2013
21803044@unknown@formal@none@1@S@A Japan Air Lines spokesman said its flights into and out of San Francisco weren't affected, but getting information about its operations was difficult.@@@@1@24@@oe@2-2-2013
21803045@unknown@formal@none@1@S@Its telecommunications headquarters in Burlingame, Calif., had been knocked out since the quake.@@@@1@13@@oe@2-2-2013
21803046@unknown@formal@none@1@S@"We're in the dark," he said.@@@@1@6@@oe@2-2-2013
21804001@unknown@formal@none@1@S@Whitbread & Co. put its spirits division up for sale, triggering a scramble among global groups for the British company's brands.@@@@1@21@@oe@2-2-2013
21804002@unknown@formal@none@1@S@Whitbread already has been approached by "about half a dozen" companies interested in buying all or part of the spirits business, a spokesman said.@@@@1@24@@oe@2-2-2013
21804003@unknown@formal@none@1@S@Analysts expect the spirits operations and some California vineyards that also are being sold to fetch about #500 million ($788.8 million).@@@@1@21@@oe@2-2-2013
21804004@unknown@formal@none@1@S@Among the brands for sale are Beefeater gin, the No. 2 imported gin in the U.S., and Laphroaig single-malt whiskey.@@@@1@20@@oe@2-2-2013
21804005@unknown@formal@none@1@S@Also for sale are Buckingham Wile Co., which distributes Cutty Sark blended whiskey in the U.S., and Whitbread's Atlas Peak Vineyards in California's Napa Valley.@@@@1@25@@oe@2-2-2013
21804006@unknown@formal@none@1@S@Beefeater alone is worth as much as #300 million, analysts said.@@@@1@11@@oe@2-2-2013
21804007@unknown@formal@none@1@S@Whitbread bought the Beefeater distillery two years ago for #174.5 million.@@@@1@11@@oe@2-2-2013
21804008@unknown@formal@none@1@S@That purchase represented an attempt by Whitbread, a venerable British brewer, to become a major player in the global liquor business.@@@@1@21@@oe@2-2-2013
21804009@unknown@formal@none@1@S@But Whitbread has been squeezed by giant rivals amid widespread consolidation in the industry.@@@@1@14@@oe@2-2-2013
21804010@unknown@formal@none@1@S@Now, it wants to concentrate on beer and its newer hotel and restaurant operations.@@@@1@14@@oe@2-2-2013
21804011@unknown@formal@none@1@S@For rival liquor companies, the Whitbread auction is a rare opportunity to acquire valuable brands.@@@@1@15@@oe@2-2-2013
21804012@unknown@formal@none@1@S@"It's not very often something like this comes up," said Ron Littleboy, a liquor company analyst at Nomura Research Institute in London.@@@@1@22@@oe@2-2-2013
21804013@unknown@formal@none@1@S@"The division will be sold off quite rapidly," predicted Neill Junor, an analyst at London brokers County NatWest WoodMac.@@@@1@19@@oe@2-2-2013
21804014@unknown@formal@none@1@S@Among possible buyers, Grand Metropolitan PLC might find Beefeater a useful addition to its portfolio.@@@@1@15@@oe@2-2-2013
21804015@unknown@formal@none@1@S@Grand Met owns Bombay gin, the No. 3 imported gin in the U.S.; rival Guinness PLC has the No. 1 imported brand, Tanqueray.@@@@1@23@@oe@2-2-2013
21804016@unknown@formal@none@1@S@The Whitbread spirits auction "is an extremely interesting development . . . and naturally we'll be considering it carefully," a Grand Met spokesman said.@@@@1@24@@oe@2-2-2013
21804017@unknown@formal@none@1@S@Guinness, which owns several leading whiskey brands plus Gordon's gin, the world's No. 1 gin, is considered less likely to bid for the Whitbread spirits.@@@@1@25@@oe@2-2-2013
21804018@unknown@formal@none@1@S@A Guinness spokesman declined to comment.@@@@1@6@@oe@2-2-2013
21804019@unknown@formal@none@1@S@Two other global liquor giants, Canada's Seagram Co. and Britain's Allied-Lyons PLC, also are possible buyers.@@@@1@16@@oe@2-2-2013
21804020@unknown@formal@none@1@S@Seagram's gin is the world's No. 2 gin brand, but the company doesn't own any of the major gin brands imported in the U.S.@@@@1@24@@oe@2-2-2013
21804021@unknown@formal@none@1@S@Allied-Lyons, while powerful in whiskey, doesn't own any major white-spirit brands.@@@@1@11@@oe@2-2-2013
21804022@unknown@formal@none@1@S@"We will certainly have to take a look at" the Whitbread spirits business, an Allied-Lyons spokesman said.@@@@1@17@@oe@2-2-2013
21804023@unknown@formal@none@1@S@"We would certainly like to have a major white-spirits brand in our portfolio."@@@@1@13@@oe@2-2-2013
21804024@unknown@formal@none@1@S@A Seagram spokesman in New York wouldn't comment.@@@@1@8@@oe@2-2-2013
21804025@unknown@formal@none@1@S@Smaller liquor companies, such as Brown-Forman Corp. and American Brands Inc. of the U.S., also are likely to be interested.@@@@1@20@@oe@2-2-2013
21804026@unknown@formal@none@1@S@Such companies "are increasingly being left behind" in the global liquor business, says Nomura's Mr. Littleboy.@@@@1@16@@oe@2-2-2013
21804027@unknown@formal@none@1@S@In New York, a spokesman for American Brands wouldn't comment.@@@@1@10@@oe@2-2-2013
21804028@unknown@formal@none@1@S@Brown-Forman, a Louisville, Ky. distiller, also declined to comment.@@@@1@9@@oe@2-2-2013
21804029@unknown@formal@none@1@S@Whitbread's wine, spirits and soft-drink operations had trading profit of #35.4 million on sales of #315.5 million in the year ended Feb. 25.@@@@1@23@@oe@2-2-2013
21804030@unknown@formal@none@1@S@The company, which is retaining most of its wine and all of its soft-drink interests, didn't break out results for the businesses it plans to sell.@@@@1@26@@oe@2-2-2013
21804031@unknown@formal@none@1@S@But analysts estimate their trading profit at #30 million.@@@@1@9@@oe@2-2-2013
21804032@unknown@formal@none@1@S@Whitbread had total pretax profit in the year ended Feb. 25 of #223.2 million, on sales of #2.26 billion.@@@@1@19@@oe@2-2-2013
21804033@unknown@formal@none@1@S@Whitbread's spirits auction occurs amid a parallel shakeup in the British beer industry.@@@@1@13@@oe@2-2-2013
21804034@unknown@formal@none@1@S@Earlier this year, the government announced plans to foster increased competition in the industry.@@@@1@14@@oe@2-2-2013
21804035@unknown@formal@none@1@S@British brewers currently own thousands of pubs, which in turn sell only the breweries' beer and soft drinks.@@@@1@18@@oe@2-2-2013
21804036@unknown@formal@none@1@S@Under new rules, many of the country's pubs would become "free houses," selling beers of their choice.@@@@1@17@@oe@2-2-2013
21804037@unknown@formal@none@1@S@Whitbread now intends to bolster its brewing interests, in an effort to grab a share of sales to free houses.@@@@1@20@@oe@2-2-2013
21804038@unknown@formal@none@1@S@The company, which last month paid #50.7 million for regional British brewer Boddington Group PLC, has about 13% of the British beer market.@@@@1@23@@oe@2-2-2013
21804039@unknown@formal@none@1@S@Whitbread also owns the license to brew and distribute Heineken and Stella Artois beers in Britain.@@@@1@16@@oe@2-2-2013
21804040@unknown@formal@none@1@S@In addition, Whitbread intends to focus on its newer hotel, liquor store and restaurant businesses in Europe and North America.@@@@1@20@@oe@2-2-2013
21804041@unknown@formal@none@1@S@In Britain, those interests include the Beefeater steakhouse chain and joint ownership with PepsiCo Inc. of the country's Pizza Hut chain.@@@@1@21@@oe@2-2-2013
21804042@unknown@formal@none@1@S@In Canada and the U.S., Whitbread owns The Keg chain of steak and seafood restaurants.@@@@1@15@@oe@2-2-2013
21804043@unknown@formal@none@1@S@Focusing on beer, restaurants and hotels means "we can concentrate our skills and resources more effectively," Peter Jarvis, Whitbread's managing director, said in a statement.@@@@1@25@@oe@2-2-2013
21804044@unknown@formal@none@1@S@The spirits business "would require substantial additional investment to enable it to compete effectively in the first division of global players."@@@@1@21@@oe@2-2-2013
21804045@unknown@formal@none@1@S@Whitbread also announced that Mr. Jarvis, who is 48, will become the company's chief executive March 1.@@@@1@17@@oe@2-2-2013
21804046@unknown@formal@none@1@S@At that time Sam Whitbread, the company's chairman and a descendant of its 18th-century founder, will retire from executive duties.@@@@1@20@@oe@2-2-2013
21804047@unknown@formal@none@1@S@He will retain the honorary title of non-executive chairman.@@@@1@9@@oe@2-2-2013
21805001@unknown@formal@none@1@S@The Treasury plans to raise $700 million in new cash with the sale Tuesday of about $10 billion in two-year notes to redeem $9.29 billion in maturing notes.@@@@1@28@@oe@2-2-2013
21805002@unknown@formal@none@1@S@The offering will be dated Oct. 31 and mature Oct. 31,@@@@1@11@@oe@2-2-2013
21805003@unknown@formal@none@1@S@Tenders for the notes, available in minimum $5,000 denominations, must be received by 1 p.m. EDT Tuesday at the Treasury or at Federal Reserve banks or branches.@@@@1@27@@oe@2-2-2013
21806001@unknown@formal@none@1@S@NEWHALL LAND & FARMING Co., Valencia, Calif., announced a 2-for-1 split in the real estate limited partnership's units and increased its regular quarterly cash distribution 33%, to 40 cents a unit.@@@@1@31@@oe@2-2-2013
21806002@unknown@formal@none@1@S@The real estate limited partnership also said it will pay a special year-end cash distribution of 10 cents a unit.@@@@1@20@@oe@2-2-2013
21806003@unknown@formal@none@1@S@Both distributions are payable Dec. 4 to limited partners of record Nov. 3.@@@@1@13@@oe@2-2-2013
21807001@unknown@formal@none@1@S@Mellon Bank Corp. said directors authorized the buy-back of as many as 250,000 common shares.@@@@1@15@@oe@2-2-2013
21807002@unknown@formal@none@1@S@The bank holding company said stock repurchased will be used to meet requirements for the company's benefit plans.@@@@1@18@@oe@2-2-2013
21807003@unknown@formal@none@1@S@Mellon has 36.6 million shares outstanding.@@@@1@6@@oe@2-2-2013
21808001@unknown@formal@none@1@S@Champion International Corp.'s third-quarter profit dropped 17%, reflecting price declines for certain paper products, operating problems at certain mills, and other factors.@@@@1@22@@oe@2-2-2013
21808002@unknown@formal@none@1@S@The paper producer reported that net income fell to $102.1 million, or $1.09 a share, from $122.4 million, or $1.29 a share, in the year-earlier period.@@@@1@26@@oe@2-2-2013
21808003@unknown@formal@none@1@S@Sales rose 2.6% to $1.32 billion from $1.29 billion.@@@@1@9@@oe@2-2-2013
21808004@unknown@formal@none@1@S@In New York Stock Exchange composite trading, Champion's shares rose 25 cents to $32.125.@@@@1@14@@oe@2-2-2013
21809001@unknown@formal@none@1@S@Digital Equipment Corp. is planning a big coming-out party on Tuesday for its first line of mainframe computers.@@@@1@18@@oe@2-2-2013
21809002@unknown@formal@none@1@S@But an uninvited guest is expected to try to crash the party.@@@@1@12@@oe@2-2-2013
21809003@unknown@formal@none@1@S@On the morning of the long-planned announcement, International Business Machines Corp. is to introduce its own new mainframe.@@@@1@18@@oe@2-2-2013
21809004@unknown@formal@none@1@S@"Their attitude is, `You want to talk mainframes, we'll talk mainframes,'" says one computer industry executive.@@@@1@16@@oe@2-2-2013
21809005@unknown@formal@none@1@S@"They're deliberately trying to steal our thunder," a Digital executive complains.@@@@1@11@@oe@2-2-2013
21809006@unknown@formal@none@1@S@"Maybe we should take it as a compliment."@@@@1@8@@oe@2-2-2013
21809007@unknown@formal@none@1@S@Digital's target is the $40 billion market for mainframe computers, the closet-sized number-crunchers that nearly every big company needs to run its business.@@@@1@23@@oe@2-2-2013
21809008@unknown@formal@none@1@S@IBM, based in Armonk, N.Y., has dominated the market for decades.@@@@1@11@@oe@2-2-2013
21809009@unknown@formal@none@1@S@That doesn't scare Digital, which has grown to be the world's second-largest computer maker by poaching customers of IBM's mid-range machines.@@@@1@21@@oe@2-2-2013
21809010@unknown@formal@none@1@S@Digital, based in Maynard, Mass., hopes to stage a repeat performance in mainframes, and it has spent almost $1 billion developing the new technology.@@@@1@24@@oe@2-2-2013
21809011@unknown@formal@none@1@S@A spoiler, nimble Tandem Computers Inc. in Cupertino, Calif., jumped into the fray earlier this week with an aggressively priced entry.@@@@1@21@@oe@2-2-2013
21809012@unknown@formal@none@1@S@IBM appears more worried about Digital, which has a broad base of customers waiting for the new line, dubbed the VAX 9000.@@@@1@22@@oe@2-2-2013
21809013@unknown@formal@none@1@S@"It's going to be nuclear war," says Thomas Willmott, a consultant with Aberdeen Group Inc.@@@@1@15@@oe@2-2-2013
21809014@unknown@formal@none@1@S@The surge in competition is expected to stir new life into the huge mainframe market, where growth has slowed to single digits in recent years.@@@@1@25@@oe@2-2-2013
21809015@unknown@formal@none@1@S@IBM's traditional mainframe rivals, including Unisys Corp., Control Data Corp. and NCR Corp., have struggled recently.@@@@1@16@@oe@2-2-2013
21809016@unknown@formal@none@1@S@Digital is promising a new approach.@@@@1@6@@oe@2-2-2013
21809017@unknown@formal@none@1@S@Robert M. Glorioso, Digital's vice president for high performance systems, says Digital's mainframe is designed not as a central computer around which everything revolves, but as part of a decentralized network weaving together hundreds of workstations, personal computers, printers and other devices.@@@@1@42@@oe@2-2-2013
21809018@unknown@formal@none@1@S@And unlike IBM's water-cooled mainframes, it doesn't need any plumbing.@@@@1@10@@oe@2-2-2013
21809019@unknown@formal@none@1@S@The challengers will have a big price advantage.@@@@1@8@@oe@2-2-2013
21809020@unknown@formal@none@1@S@Digital is expected to tag its new line from about $1.24 million to $4.4 million and up, depending on configuration.@@@@1@20@@oe@2-2-2013
21809021@unknown@formal@none@1@S@That's about half the price of comparably equipped IBM mainframes.@@@@1@10@@oe@2-2-2013
21809022@unknown@formal@none@1@S@Tandem's pricing is just as aggressive.@@@@1@6@@oe@2-2-2013
21809023@unknown@formal@none@1@S@The heightened competition will hit IBM at a difficult time.@@@@1@10@@oe@2-2-2013
21809024@unknown@formal@none@1@S@The computer giant's current mainframe line, which has sold well and has huge profit margins, is starting to show its age.@@@@1@21@@oe@2-2-2013
21809025@unknown@formal@none@1@S@The new 3090s due next week will boost performance by only about 8% to 10%.@@@@1@15@@oe@2-2-2013
21809026@unknown@formal@none@1@S@And IBM isn't expected to deliver a new generation of mainframes until 1991.@@@@1@13@@oe@2-2-2013
21809027@unknown@formal@none@1@S@Still, no one expects IBM's rivals to deliver a knockout.@@@@1@10@@oe@2-2-2013
21809028@unknown@formal@none@1@S@IBM has a near-monopoly on mainframes, with an estimated 70% share of the market.@@@@1@14@@oe@2-2-2013
21809029@unknown@formal@none@1@S@IBM is five times the size of Digital -- and 40 times the size of Tandem -- and wields enormous market power.@@@@1@22@@oe@2-2-2013
21809030@unknown@formal@none@1@S@It counts among its customers a majority of the world's largest corporations, which entrust their most critical business information to IBM computers.@@@@1@22@@oe@2-2-2013
21809031@unknown@formal@none@1@S@"We're not going to walk in and replace a company's corporate accounting system if it's already running on an IBM mainframe," concedes Kenneth H. Olsen, Digital's president.@@@@1@27@@oe@2-2-2013
21809032@unknown@formal@none@1@S@He says Digital will target faster-growing market segments such as on-line transaction processing, which includes retail-sales tracking, airline reservations and bank-teller networks.@@@@1@22@@oe@2-2-2013
21809033@unknown@formal@none@1@S@Tandem, which already specializes in on-line transaction processing, is a potent competitor in that market.@@@@1@15@@oe@2-2-2013
21809034@unknown@formal@none@1@S@A key marketing target for Digital will be the large number of big customers who already own both Digital and IBM systems.@@@@1@22@@oe@2-2-2013
21809035@unknown@formal@none@1@S@One such company is Bankers Trust Co.@@@@1@7@@oe@2-2-2013
21809036@unknown@formal@none@1@S@Stanley Rose, a vice president, technological and strategic planning at Bankers Trust, says that despite Digital's low prices, "we aren't about to unplug our IBM mainframes for a DEC machine.@@@@1@30@@oe@2-2-2013
21809037@unknown@formal@none@1@S@The software conversion costs would dwarf any savings."@@@@1@8@@oe@2-2-2013
21809038@unknown@formal@none@1@S@But Mr. Rose is still looking seriously at the 9000.@@@@1@10@@oe@2-2-2013
21809039@unknown@formal@none@1@S@Bankers Trust uses Digital's VAX to run its huge money-transfer and capital markets accounts, juggling hundreds of billions of dollars each day, he says.@@@@1@24@@oe@2-2-2013
21809040@unknown@formal@none@1@S@As that system grows, larger computers may be needed.@@@@1@9@@oe@2-2-2013
21809041@unknown@formal@none@1@S@"In the past, customers had to go to IBM when they outgrew the VAX.@@@@1@14@@oe@2-2-2013
21809042@unknown@formal@none@1@S@Now they don't have to," he says.@@@@1@7@@oe@2-2-2013
21809043@unknown@formal@none@1@S@"That's going to cost IBM revenue."@@@@1@6@@oe@2-2-2013
21809044@unknown@formal@none@1@S@Analysts say Digital can expect this pent-up demand for the new VAX to fuel strong sales next year.@@@@1@18@@oe@2-2-2013
21809045@unknown@formal@none@1@S@Barry F. Willman, an analyst at Sanford C. Bernstein & Co., estimates the 9000 could boost sales by more than $1 billion in the fiscal year beginning in July.@@@@1@29@@oe@2-2-2013
21809046@unknown@formal@none@1@S@He bases the estimate on a survey of hundreds of Digital's largest customers.@@@@1@13@@oe@2-2-2013
21809047@unknown@formal@none@1@S@Although Digital will announce a full family of mainframes next week, it isn't expected to begin shipping in volume until next year.@@@@1@22@@oe@2-2-2013
21809048@unknown@formal@none@1@S@The first model available will be the 210, which is likely to appeal to many technical and scientific buyers interested in the optional super-charger, or vector processor, says Terry Shannon of International Data Corp., a market research concern.@@@@1@38@@oe@2-2-2013
21809049@unknown@formal@none@1@S@Four more models, aimed squarely at IBM's commercial customers, are expected to begin shipping in late June.@@@@1@17@@oe@2-2-2013
21809050@unknown@formal@none@1@S@Most analysts don't expect the new mainframes to begin contributing significantly to revenue before the fiscal first quarter, which begins next July 1.@@@@1@23@@oe@2-2-2013
21809051@unknown@formal@none@1@S@Digital's new line has been a long time coming.@@@@1@9@@oe@2-2-2013
21809052@unknown@formal@none@1@S@The company has long struggled to deliver a strong mainframe-class product, and made a costly decision in 1988 to halt development of an interim product meant to stem the revenue losses at the high end.@@@@1@35@@oe@2-2-2013
21809053@unknown@formal@none@1@S@Digital's failure to deliver a true mainframe-class machine before now may have cost the company as much as $1 billion in revenue in fiscal 1989, Mr. Willman says.@@@@1@28@@oe@2-2-2013
21809054@unknown@formal@none@1@S@IBM will face still more competition in coming months.@@@@1@9@@oe@2-2-2013
21809055@unknown@formal@none@1@S@Amdahl Corp., backed by Japan's Fujitsu Ltd., has a growing share of the market with its low-priced, IBM-compatible machines.@@@@1@19@@oe@2-2-2013
21809056@unknown@formal@none@1@S@And National Advanced Systems, a joint venture of Japan's Hitachi Ltd. and General Motors Corp.'s Electronic Data Systems, is expected to unveil a line of powerful IBM-compatible mainframes later this year.@@@@1@31@@oe@2-2-2013
21809057@unknown@formal@none@1@S@NOTE:@@@@1@1@@oe@2-2-2013
21809058@unknown@formal@none@1@S@NAS is National Advanced Systems, CDC -- Control Data Corp., Bull NH Information Systems Inc.@@@@1@15@@oe@2-2-2013
21809059@unknown@formal@none@1@S@Source: International Data Corp.@@@@1@4@@oe@2-2-2013
21809060@unknown@formal@none@1@S@Compiled by Publishers Weekly from data from large-city bookstores, bookstore chains and local bestseller lists across the U.S.@@@@1@18@@oe@2-2-2013
21809061@unknown@formal@none@1@S@Copyright 1989 by Reed Publishing USA.@@@@1@6@@oe@2-2-2013
21810001@unknown@formal@none@1@S@The frenetic stock and bond markets cooled off, but the dollar slumped.@@@@1@12@@oe@2-2-2013
21810002@unknown@formal@none@1@S@Stocks rose slightly as trading activity slowed from the frenzied pace earlier this week.@@@@1@14@@oe@2-2-2013
21810003@unknown@formal@none@1@S@Prices of long-term Treasury bonds hovered in a narrow band most of the day, finishing little changed despite the dollar's weakness and fears about a wave of government borrowing coming soon.@@@@1@31@@oe@2-2-2013
21810004@unknown@formal@none@1@S@Helped by futures-related program buying, the Dow Jones Industrial Average gained 4.92 points to close at 2643.65.@@@@1@17@@oe@2-2-2013
21810005@unknown@formal@none@1@S@But the Dow Jones Transportation Average fell for the seventh-consecutive session as more investors dumped UAL shares.@@@@1@17@@oe@2-2-2013
21810006@unknown@formal@none@1@S@Bond prices rallied early yesterday morning as traders scrambled to buy Treasury issues on fears that the Northern California earthquake might lead to a stock-market debacle.@@@@1@26@@oe@2-2-2013
21810007@unknown@formal@none@1@S@But when stocks held steady, Treasury bonds later retreated.@@@@1@9@@oe@2-2-2013
21810008@unknown@formal@none@1@S@Speculation that the Federal Reserve will lower interest rates in coming weeks helped push the dollar down while boosting stocks, traders said.@@@@1@22@@oe@2-2-2013
21810009@unknown@formal@none@1@S@But many investors remain wary about stocks, partly because they expect continued turbulence in the junk-bond market that would make it more difficult to finance corporate takeovers.@@@@1@27@@oe@2-2-2013
21810010@unknown@formal@none@1@S@"I'm surprised we didn't see more volatility" in stocks, said Raymond F. DeVoe Jr., market strategist at Legg Mason Wood Walker.@@@@1@21@@oe@2-2-2013
21810011@unknown@formal@none@1@S@"I think the problems in the junk-bond area are just beginning, and this will be very unsettling for companies that have issued junk bonds.@@@@1@24@@oe@2-2-2013
21810012@unknown@formal@none@1@S@In a bull market, credit does not matter," Mr. DeVoe added.@@@@1@11@@oe@2-2-2013
21810013@unknown@formal@none@1@S@"But when it does matter, then it's the only thing that matters."@@@@1@12@@oe@2-2-2013
21810014@unknown@formal@none@1@S@However, many institutional investors are reacting to the stock market's plunge as "a great buying opportunity," said Charles I. Clough, chief investment strategist at Merrill Lynch Capital Markets.@@@@1@28@@oe@2-2-2013
21810015@unknown@formal@none@1@S@"Things are beginning to settle down.@@@@1@6@@oe@2-2-2013
21810016@unknown@formal@none@1@S@The markets are returning to normalcy."@@@@1@6@@oe@2-2-2013
21810017@unknown@formal@none@1@S@Oil prices initially rose on fears that the massive earthquake in Northern California would disrupt production.@@@@1@16@@oe@2-2-2013
21810018@unknown@formal@none@1@S@But prices later reversed course, finishing slightly lower, as investors concluded that any cuts wouldn't be large and that foreign oil producers would quickly pick up the slack.@@@@1@28@@oe@2-2-2013
21810019@unknown@formal@none@1@S@In major market activity:@@@@1@4@@oe@2-2-2013
21810020@unknown@formal@none@1@S@Stock prices rose.@@@@1@3@@oe@2-2-2013
21810021@unknown@formal@none@1@S@New York Stock Exchange volume shrank to 166.9 million shares from 224.1 million Tuesday.@@@@1@14@@oe@2-2-2013
21810022@unknown@formal@none@1@S@Advancers on the Big Board outpaced decliners by 822 to 668.@@@@1@11@@oe@2-2-2013
21810023@unknown@formal@none@1@S@Bond prices were little changed in sluggish activity.@@@@1@8@@oe@2-2-2013
21810024@unknown@formal@none@1@S@The yield on the Treasury's 30-year issue fell slightly to 8.03%.@@@@1@11@@oe@2-2-2013
21810025@unknown@formal@none@1@S@The dollar dropped.@@@@1@3@@oe@2-2-2013
21810026@unknown@formal@none@1@S@In New York late yesterday, the currency was at 141.45 yen and 1.8485 marks, down from 142.75 yen and 1.8667 marks late Tuesday.@@@@1@23@@oe@2-2-2013
21811001@unknown@formal@none@1@S@James L. Madson, 46 years old, was named a vice president and assistant general manager of this producer of copper and other minerals.@@@@1@23@@oe@2-2-2013
21811002@unknown@formal@none@1@S@He will succeed Arthur E. Himebaugh as general manager Feb. 1, when Mr. Himebaugh retires.@@@@1@15@@oe@2-2-2013
21812001@unknown@formal@none@1@S@AMR Corp. posted an 8.8% drop in third-quarter net income and said the fourth quarter will be "disappointing" as well, primarily because of slimmer profit margins and increased fuel costs.@@@@1@30@@oe@2-2-2013
21812002@unknown@formal@none@1@S@AMR's earnings decline comes a year after the parent company of American Airlines and the rest of the airline industry set profit records.@@@@1@23@@oe@2-2-2013
21812003@unknown@formal@none@1@S@Some analysts say the latest results only seem pale by comparison with a spectacular second half of 1988.@@@@1@18@@oe@2-2-2013
21812004@unknown@formal@none@1@S@Still, AMR's stumble doesn't bode well for the rest of the industry.@@@@1@12@@oe@2-2-2013
21812005@unknown@formal@none@1@S@The Fort Worth, Texas, company is generally regarded as one of the best-run in the business, and its difficulties are likely to be reflected industrywide as other major carriers report third-quarter results over the next several days.@@@@1@37@@oe@2-2-2013
21812006@unknown@formal@none@1@S@Meanwhile, the company's board, which had said nothing publicly about investor Donald Trump's recently withdrawn $7.5 billion offer for AMR, issued a statement condemning "ill-conceived and reckless" bids and saying it was "pleased" that Mr. Trump had backed out.@@@@1@39@@oe@2-2-2013
21812007@unknown@formal@none@1@S@In the third quarter, AMR said, net fell to $137 million, or $2.16 a share, from $150.3 million, or $2.50 a share.@@@@1@22@@oe@2-2-2013
21812008@unknown@formal@none@1@S@Revenue rose 17% to $2.73 billion from $2.33 billion a year earlier.@@@@1@12@@oe@2-2-2013
21812009@unknown@formal@none@1@S@AMR's chairman, Robert L. Crandall, said the results were due to an 11% year-to-year increase in fuel prices and a slight decrease in yield, an industry measure analogous to profit margin on each seat sold.@@@@1@35@@oe@2-2-2013
21812010@unknown@formal@none@1@S@"We think these trends will continue and will produce a very disappointing fourth quarter as well," he said.@@@@1@18@@oe@2-2-2013
21812011@unknown@formal@none@1@S@Tim Pettee, an analyst with Merrill Lynch & Co., said: "The business turned faster than expected.@@@@1@16@@oe@2-2-2013
21812012@unknown@formal@none@1@S@Costs are giving them a little bit of trouble, and the whole industry is having a pricing problem."@@@@1@18@@oe@2-2-2013
21812013@unknown@formal@none@1@S@For the nine months, AMR's net rose 15% to $415.9 million, or $6.59 a share, from $360.1 million, or $5.99 a share.@@@@1@22@@oe@2-2-2013
21812014@unknown@formal@none@1@S@Revenue jumped 22% to $7.89 billion from $6.46 billion.@@@@1@9@@oe@2-2-2013
21812015@unknown@formal@none@1@S@AMR's board, in a statement after a regular meeting yesterday, said: "Ill-considered and reckless acquisition proposals adversely affect employee, financial and business relationships and are contrary to the best interests of AMR shareholders. . . .@@@@1@36@@oe@2-2-2013
21812016@unknown@formal@none@1@S@AMR has not been, and is not, for sale."@@@@1@9@@oe@2-2-2013
21812017@unknown@formal@none@1@S@Mr. Crandall said the company's current decline in earnings is exactly the kind of situation that an excessively leveraged company laden with debt from a takeover would find difficult to weather.@@@@1@31@@oe@2-2-2013
21812018@unknown@formal@none@1@S@"Our very disappointing third-quarter results and the discouraging outlook for the fourth quarter underscore the importance of an adequate capital base," he said.@@@@1@23@@oe@2-2-2013
21813001@unknown@formal@none@1@S@Christopher Whittington, 51-year-old deputy chairman of this British investment-banking group and chairman of Morgan Grenfell & Co., the group's main banking unit, has retired from his executive duties.@@@@1@28@@oe@2-2-2013
21813002@unknown@formal@none@1@S@Succeeding Mr. Whittington as deputy chairman of the group is Anthony Richmond-Watson, 43, currently a main board member.@@@@1@18@@oe@2-2-2013
21813003@unknown@formal@none@1@S@Succeeding Mr. Whittington at Morgan Grenfell & Co. is Richard Webb, 50, currently deputy chairman.@@@@1@15@@oe@2-2-2013
21813004@unknown@formal@none@1@S@Mr. Whittington will remain on the main group board as a nonexecutive director.@@@@1@13@@oe@2-2-2013
21814001@unknown@formal@none@1@S@Without federal subsidies to developers of beach houses, the economic and structural damage by Hurricane Hugo in South Carolina would have been much less, as highlighted by your Oct. 3 editorial "Subsidizing Disaster."@@@@1@33@@oe@2-2-2013
21814002@unknown@formal@none@1@S@Congress should stop throwing tax dollars out to sea by subsidizing the development of beach communities on ecologically fragile coastal barrier islands, such as the hard-hit Isle of Palms near Charleston.@@@@1@31@@oe@2-2-2013
21814003@unknown@formal@none@1@S@As you mentioned, subsidies for development on a number of barrier islands were curtailed in 1982 by the Coastal Barrier Resource System.@@@@1@22@@oe@2-2-2013
21814004@unknown@formal@none@1@S@The National Taxpayers Union would like Congress to add 800,000 acres to the 453,000 of shoreline in the system by enacting "The Coastal Barrier Improvement Act of 1989."@@@@1@28@@oe@2-2-2013
21814005@unknown@formal@none@1@S@This bill simply says that if you want to develop property on a barrier island you have to do so without taxpayer support.@@@@1@23@@oe@2-2-2013
21814006@unknown@formal@none@1@S@Private-property rights would be upheld because the legislation would not ban coastal development.@@@@1@13@@oe@2-2-2013
21814007@unknown@formal@none@1@S@However, home builders would have to bear the full costs of such beach-house construction.@@@@1@14@@oe@2-2-2013
21814008@unknown@formal@none@1@S@A Taxpayers Union study concluded the bill would save taxpayers up to $9.3 billion in barrier-island subsidies over 20 years.@@@@1@20@@oe@2-2-2013
21814009@unknown@formal@none@1@S@Already, the 1982 legislation has saved an estimated $800 million.@@@@1@10@@oe@2-2-2013
21814010@unknown@formal@none@1@S@Marshall Y. Taylor@@@@1@3@@oe@2-2-2013
21814011@unknown@formal@none@1@S@Communications Director@@@@1@2@@oe@2-2-2013
21814012@unknown@formal@none@1@S@National Taxpayers Union@@@@1@3@@oe@2-2-2013
21815001@unknown@formal@none@1@S@The government said 13.1% of Americans, or 31.9 million people, were living in poverty in 1988.@@@@1@16@@oe@2-2-2013
21815002@unknown@formal@none@1@S@While last year's figure was down from 13.4% in 1987 and marked the fifth consecutive annual decline in the poverty rate, the Census Bureau said the 1988 drop wasn't statistically significant.@@@@1@31@@oe@2-2-2013
21815003@unknown@formal@none@1@S@The bureau's report also showed that while some measures of the nation's economic well-being improved modestly in 1988, the fruits of prosperity were shared less equitably than the year before.@@@@1@30@@oe@2-2-2013
21815004@unknown@formal@none@1@S@Summarizing data derived from a March 1989 survey of 58,000 households, William Butz, associate director of the Census Bureau, said that "most groups either stayed the same or improved."@@@@1@29@@oe@2-2-2013
21815005@unknown@formal@none@1@S@But, he added, "Since the late 1960s, the distribution of income has been slowly getting less equal.@@@@1@17@@oe@2-2-2013
21815006@unknown@formal@none@1@S@There was no reversal {of that trend} between 1987 and 1988."@@@@1@11@@oe@2-2-2013
21815007@unknown@formal@none@1@S@Per capita income, a widely used measure of a nation's economic health, hit a record in 1988, rising 1.7% after inflation adjustment to $13,120.@@@@1@24@@oe@2-2-2013
21815008@unknown@formal@none@1@S@But the median income of American families fell 0.2%, the first time it has failed to rise since 1982.@@@@1@19@@oe@2-2-2013
21815009@unknown@formal@none@1@S@Mr. Butz said the divergence in the two measures reflects changes in family size and structure, including the rising number of female-headed families and a sharp increase in income reported by Americans who aren't living in families.@@@@1@37@@oe@2-2-2013
21815010@unknown@formal@none@1@S@As a result of last year's decline, the government's estimate for the number of people living below the poverty line declined by about 500,000.@@@@1@24@@oe@2-2-2013
21815011@unknown@formal@none@1@S@The poverty threshold, defined as three times food expenses as calculated by the Agricultural Department, last year was $12,092 for a family of four.@@@@1@24@@oe@2-2-2013
21815012@unknown@formal@none@1@S@The Census Bureau counts all cash income in determining whether families are below the line, but it doesn't consider other government benefits, such as Medicare.@@@@1@25@@oe@2-2-2013
21815013@unknown@formal@none@1@S@Thanks largely to the continued growth of the U.S. economy, the poverty rate is now substantially lower than the 1983 peak of 15.3%, but the improvements have been modest in the past couple of years.@@@@1@35@@oe@2-2-2013
21815014@unknown@formal@none@1@S@Poverty remains far more widespread among blacks than other Americans.@@@@1@10@@oe@2-2-2013
21815015@unknown@formal@none@1@S@In 1988, 31.6% of blacks lived in poverty, compared with 10.1% for whites and 26.8% for Hispanics.@@@@1@17@@oe@2-2-2013
21815016@unknown@formal@none@1@S@But two-thirds of all poor Americans were white.@@@@1@8@@oe@2-2-2013
21815017@unknown@formal@none@1@S@More than half of poor families were headed by women living without men, the bureau said.@@@@1@16@@oe@2-2-2013
21815018@unknown@formal@none@1@S@More than three-fourths of poor black families were headed by women.@@@@1@11@@oe@2-2-2013
21815019@unknown@formal@none@1@S@The poverty rate of children under 18 years old dropped last year to 19.7% from 20.5% in 1987, but remained far higher than a decade ago.@@@@1@26@@oe@2-2-2013
21815020@unknown@formal@none@1@S@The rate among the elderly -- 12% in 1988 -- wasn't significantly lower than the year before.@@@@1@17@@oe@2-2-2013
21815021@unknown@formal@none@1@S@If it weren't for Social Security payments, more than three times as many elderly would be below the poverty line, Mr. Butz said.@@@@1@23@@oe@2-2-2013
21815022@unknown@formal@none@1@S@The Census Bureau also said:@@@@1@5@@oe@2-2-2013
21815023@unknown@formal@none@1@S@-- Some 17.2% of all money income received by families in 1988 went to the wealthiest 5% of all families, up from 16.9% in 1987.@@@@1@25@@oe@2-2-2013
21815024@unknown@formal@none@1@S@That is the greatest share reported for any year since 1950, although changing definitions over the years distort the comparison.@@@@1@20@@oe@2-2-2013
21815025@unknown@formal@none@1@S@-- The top fifth of all families got 44% of the income, up from 41.5% a decade earlier.@@@@1@18@@oe@2-2-2013
21815026@unknown@formal@none@1@S@The bottom fifth of all families got 4.6% of the income, down from 5.2% a decade earlier.@@@@1@17@@oe@2-2-2013
21815027@unknown@formal@none@1@S@-- Confirming other government data showing that wages aren't keeping pace with inflation, earnings of year-round, full-time male workers fell 1.3% in 1988 after adjusting for higher prices, the first such drop since 1982.@@@@1@34@@oe@2-2-2013
21815028@unknown@formal@none@1@S@Earnings of female workers were unchanged.@@@@1@6@@oe@2-2-2013
21815029@unknown@formal@none@1@S@-- Women working full-time earned 66 cents for every dollar earned by men, a penny more than in 1987 and seven cents more than in 1978.@@@@1@26@@oe@2-2-2013
21815030@unknown@formal@none@1@S@-- Median household income -- which includes both those living in families and those who aren't -- rose 0.3% last year to $27,225 after inflation.@@@@1@25@@oe@2-2-2013
21815031@unknown@formal@none@1@S@It rose sharply in the Northeast and Midwest and fell slightly in the South and West.@@@@1@16@@oe@2-2-2013
21815032@unknown@formal@none@1@S@Median family income was $32,191, down 0.2%.@@@@1@7@@oe@2-2-2013
21815033@unknown@formal@none@1@S@-- Per capita income of blacks, though still only 60% that of whites, rose 3.9% in 1988, while per capita income of whites rose only 1.5%.@@@@1@26@@oe@2-2-2013
21815034@unknown@formal@none@1@S@-- Among married couples, the gap between blacks and whites narrowed sharply, as income of black families shot up 6.8% while income of whites didn't budge.@@@@1@26@@oe@2-2-2013
21815035@unknown@formal@none@1@S@Fueling a controversy that has been simmering for years, the Census Bureau also said its figures would look far rosier if it recalculated the poverty threshold using an improved consumer-price measure adopted in 1983.@@@@1@34@@oe@2-2-2013
21815036@unknown@formal@none@1@S@The bureau said some 3.5 million fewer people would have fallen below the poverty line in 1988 -- and the poverty rate would have been 10.5% instead of 13.1% -- under the alternative calculation.@@@@1@34@@oe@2-2-2013
21815037@unknown@formal@none@1@S@Critics on the left and right have been calling for all sorts of revisions to the measure for years.@@@@1@19@@oe@2-2-2013
21815038@unknown@formal@none@1@S@A report by the staff of the Joint Economic Committee of Congress released yesterday concluded, "It is misleading to make this change without adjusting for other changes."@@@@1@27@@oe@2-2-2013
21815039@unknown@formal@none@1@S@The official poverty threshold is set by the Office of Management and Budget.@@@@1@13@@oe@2-2-2013
21816001@unknown@formal@none@1@S@John E. Hayes Jr. was elected chairman, president and chief executive officer, succeeding David S. Black, who retired.@@@@1@18@@oe@2-2-2013
21816002@unknown@formal@none@1@S@Mr. Hayes, 52 years old, left Southwestern Bell Telephone Co. in January, where he had been chairman, president and chief executive, to join Triad Capital Partners, a St. Louis company with interests in solid waste and recycling, telecommunications and international venture capital.@@@@1@42@@oe@2-2-2013
21816003@unknown@formal@none@1@S@He has resigned his posts at Triad to take the Kansas Power positions.@@@@1@13@@oe@2-2-2013
21816004@unknown@formal@none@1@S@Kansas Power said Mr. Black, 61, chose early retirement.@@@@1@9@@oe@2-2-2013
21817001@unknown@formal@none@1@S@The space shuttle Atlantis boosted the Galileo spacecraft on its way to Jupiter, giving a big lift as well to an ambitious U.S. program of space exploration.@@@@1@27@@oe@2-2-2013
21817002@unknown@formal@none@1@S@Seven years late in the launching, $1 billion over budget and a target of anti-nuclear protestors, Galileo has long been a symbol of trouble for the National Aeronautics and Space Administration.@@@@1@31@@oe@2-2-2013
21817003@unknown@formal@none@1@S@But yesterday, as Atlantis rumbled into a patch of clear sky above Florida with storm clouds closing in on it, NASA sought to turn Galileo into a symbol of triumph.@@@@1@30@@oe@2-2-2013
21817004@unknown@formal@none@1@S@"NASA did it right; that's the message," said J.R. Thompson, the agency's deputy administrator.@@@@1@14@@oe@2-2-2013
21817005@unknown@formal@none@1@S@The $1.4 billion robot spacecraft faces a six-year journey to explore Jupiter and its 16 known moons.@@@@1@17@@oe@2-2-2013
21817006@unknown@formal@none@1@S@If all goes well, it will parachute a probe into the dense Jovian atmosphere in July 1995 to pick up detailed data about gases that may be similar to the material from which the solar system was formed 4.6 billion years ago.@@@@1@42@@oe@2-2-2013
21817007@unknown@formal@none@1@S@Jupiter is so enormous -- its mass is 318 times that of Earth -- that its gravity may have trapped these primordial gases and never let them escape.@@@@1@28@@oe@2-2-2013
21817008@unknown@formal@none@1@S@Investigating Jupiter in detail may provide clues to what astronomer Tobias Owen calls the "cosmic paradox" of life: Jupiter and other bodies in the outer solar system are rich in elements such as hydrogen that are essential for life on Earth, but these planets are lifeless; Earth, on the other hand, has a diminished store of such material but is rich in life.@@@@1@63@@oe@2-2-2013
21817009@unknown@formal@none@1@S@Some scientists have suggested that comets and asteroids may have brought enough of this kind of material from the outer solar system to Earth to spawn life.@@@@1@27@@oe@2-2-2013
21817010@unknown@formal@none@1@S@Beginning in December 1995, Galileo will begin a two-year tour of the Jovian moons.@@@@1@14@@oe@2-2-2013
21817011@unknown@formal@none@1@S@In 1979, two Voyager spacecraft sent back stunning photos of Jovian moons Io and Europa that showed them to be among the most intriguing bodies in the solar system.@@@@1@29@@oe@2-2-2013
21817012@unknown@formal@none@1@S@The photos showed active geysers on Io spewing sulfurous material 190 miles into its atmosphere and indicated that Europa may have an ocean hidden under a thick sheet of ice.@@@@1@30@@oe@2-2-2013
21817013@unknown@formal@none@1@S@Galileo's photos of Europa will be more than 1,000 times as sharp as Voyager's, according to Torrence Johnson, Galileo's project scientist, and may show whether it actually has the only known ocean other than those on Earth.@@@@1@37@@oe@2-2-2013
21817014@unknown@formal@none@1@S@Atlantis lifted Galileo from the launch pad at 12:54 p.m. EDT and released the craft from its cargo bay about six hours later.@@@@1@23@@oe@2-2-2013
21817015@unknown@formal@none@1@S@"Galileo is on its way to another world in the hands of the best flight controllers in this world," Atlantis Commander Donald Williams said.@@@@1@24@@oe@2-2-2013
21817016@unknown@formal@none@1@S@"Fly safely."@@@@1@2@@oe@2-2-2013
21817017@unknown@formal@none@1@S@The five-member Atlantis crew will conduct several experiments, including growing plants and processing polymeric materials in space, before their scheduled landing at Edwards Air Force Base, Calif., Monday.@@@@1@28@@oe@2-2-2013
21817018@unknown@formal@none@1@S@The Galileo project started in 1977, and a number of project veterans were on hand to watch the launch.@@@@1@19@@oe@2-2-2013
21817019@unknown@formal@none@1@S@An ebullient Mr. Johnson, wearing a NASA baseball cap and carrying a camera and binoculars, called the launch "fantastic."@@@@1@19@@oe@2-2-2013
21817020@unknown@formal@none@1@S@Benny Chin, manager of the Galileo probe, compared it to watching a child leave home.@@@@1@15@@oe@2-2-2013
21817021@unknown@formal@none@1@S@"I'm happy and sad," he said.@@@@1@6@@oe@2-2-2013
21817022@unknown@formal@none@1@S@Anti-nuclear activists took a less positive view.@@@@1@7@@oe@2-2-2013
21817023@unknown@formal@none@1@S@Having argued that Galileo's plutonium power source could have released lethal doses of radiation if the shuttle exploded yesterday, they weren't quieted by yesterday's successful launch.@@@@1@26@@oe@2-2-2013
21817024@unknown@formal@none@1@S@Galileo will skim past Earth in 1990 and 1992, collecting energy from the planet's gravitational field to gain momentum for its trip to Jupiter.@@@@1@24@@oe@2-2-2013
21817025@unknown@formal@none@1@S@The protesters point out that Galileo also could crash to Earth then.@@@@1@12@@oe@2-2-2013
21817026@unknown@formal@none@1@S@They said they dropped plans to infiltrate the Kennedy Space Center after NASA beefed up its security.@@@@1@17@@oe@2-2-2013
21817027@unknown@formal@none@1@S@One protest did get past NASA's guard, though; a computer virus caused anti-Galileo messages to flash onto some computer screens at NASA centers.@@@@1@23@@oe@2-2-2013
21817028@unknown@formal@none@1@S@The successful launch continues a remarkable recovery in the U.S. space-science program.@@@@1@12@@oe@2-2-2013
21817029@unknown@formal@none@1@S@An unmanned spacecraft, Magellan, already is heading to Venus and is due to begin mapping the planet next August.@@@@1@19@@oe@2-2-2013
21817030@unknown@formal@none@1@S@Voyager 2 sent back spectacular photos of Neptune and its moon, Triton, this summer.@@@@1@14@@oe@2-2-2013
21817031@unknown@formal@none@1@S@Next month, NASA plans to launch a satellite to study cosmic rays dating from the birth of the universe.@@@@1@19@@oe@2-2-2013
21817032@unknown@formal@none@1@S@In December, the shuttle Columbia will try to retrieve a satellite that's been in orbit for nearly five years measuring the deleterious effects of space on materials and instruments.@@@@1@29@@oe@2-2-2013
21817033@unknown@formal@none@1@S@Next March, the shuttle Discovery will launch the Hubble space telescope, a $1.5 billion instrument designed to see the faintest galaxies in the universe.@@@@1@24@@oe@2-2-2013
21817034@unknown@formal@none@1@S@Not all of NASA's space-science work will be so auspicious, though.@@@@1@11@@oe@2-2-2013
21817035@unknown@formal@none@1@S@Around Thanksgiving, the Solar Max satellite, which NASA repaired in orbit in 1984, will tumble back into the Earth's atmosphere.@@@@1@20@@oe@2-2-2013
21817036@unknown@formal@none@1@S@NASA won't attempt a rescue; instead, it will try to predict whether any of the rubble will smash to the ground and where.@@@@1@23@@oe@2-2-2013
21818001@unknown@formal@none@1@S@The Associated Press's earthquake coverage drew attention to a phenomenon that deserves some thought by public officials and other policy makers.@@@@1@21@@oe@2-2-2013
21818002@unknown@formal@none@1@S@Private relief agencies, such as the Salvation Army and Red Cross, mobilized almost instantly to help people, while the Washington bureaucracy "took hours getting into gear."@@@@1@26@@oe@2-2-2013
21818003@unknown@formal@none@1@S@One news show we saw yesterday even displayed 25 federal officials meeting around a table.@@@@1@15@@oe@2-2-2013
21818004@unknown@formal@none@1@S@We recall that the mayor of Charleston complained bitterly about the federal bureaucracy's response to Hurricane Hugo.@@@@1@17@@oe@2-2-2013
21818005@unknown@formal@none@1@S@The sense grows that modern public bureaucracies simply don't perform their assigned functions well.@@@@1@14@@oe@2-2-2013
21819001@unknown@formal@none@1@S@Bally Manufacturing Corp. and New York developer Donald Trump have agreed in principle to a $6.5 million settlement of shareholder litigation stemming from Bally's alleged greenmail payment to Mr. Trump.@@@@1@30@@oe@2-2-2013
21819002@unknown@formal@none@1@S@According to lawyers familiar with the settlement talks, the verbal agreement to end a lawsuit filed more than two years ago was reached last week and will soon be submitted to a federal judge in Camden, N.J.@@@@1@37@@oe@2-2-2013
21819003@unknown@formal@none@1@S@In February 1987, Bally thwarted a possible hostile takeover bid from Mr. Trump by agreeing to buy 2.6 million of Mr. Trump's 3.1 million Bally shares for $83.7 million -- more than $18 million above market price.@@@@1@37@@oe@2-2-2013
21819004@unknown@formal@none@1@S@The term greenmail refers to a situation where a company pays a premium over market value to repurchase a stake held by a potential acquirer.@@@@1@25@@oe@2-2-2013
21819005@unknown@formal@none@1@S@Lawyers for shareholders, Bally and Mr. Trump all declined to talk publicly about the proposed settlement, citing a request by a federal court magistrate not to reveal details of the agreement until it is completed.@@@@1@35@@oe@2-2-2013
21819006@unknown@formal@none@1@S@But some attorneys who are familiar with the matter said the $6.5 million payment will be shared by Bally and Mr. Trump, with the casino and hotel concern probably paying the bulk of the money.@@@@1@35@@oe@2-2-2013
21819007@unknown@formal@none@1@S@The amount Bally and Mr. Trump will pay to settle the class-action suit pales in comparison to the $45 million Walt Disney Co. and Saul Steinberg's Reliance Group Holdings Inc. agreed to pay to settle a similar suit in July.@@@@1@40@@oe@2-2-2013
21819008@unknown@formal@none@1@S@That settlement represented the first time shareholders were granted a major payment in a greenmail case.@@@@1@16@@oe@2-2-2013
21819009@unknown@formal@none@1@S@Mr. Steinberg made a $59.7 million profit on the sale to Disney of his investment in the company in 1984.@@@@1@20@@oe@2-2-2013
21819010@unknown@formal@none@1@S@But lawyers said Mr. Steinberg probably faced much more potential liability because, when he sued Disney during his takeover battle, he filed on behalf of all shareholders.@@@@1@27@@oe@2-2-2013
21819011@unknown@formal@none@1@S@When Disney offered to pay Mr. Steinberg a premium for his shares, the New York investor didn't demand the company also pay a premium to other shareholders.@@@@1@27@@oe@2-2-2013
21819012@unknown@formal@none@1@S@When Mr. Trump sued Bally, he sued only on behalf of himself.@@@@1@12@@oe@2-2-2013
21819013@unknown@formal@none@1@S@Mr. Trump and Bally also appeared to have some leverage in the case because in the state of Delaware, where Bally is incorporated, courts have held that greenmail is often protected by the business-judgment rule.@@@@1@35@@oe@2-2-2013
21819014@unknown@formal@none@1@S@That rule gives boards of directors wide latitude in deciding how to deal with dissident shareholders.@@@@1@16@@oe@2-2-2013
21819015@unknown@formal@none@1@S@SENATE HEARS final arguments in impeachment trial of federal judge.@@@@1@10@@oe@2-2-2013
21819016@unknown@formal@none@1@S@Yesterday, U.S. Judge Alcee Hastings faced his jury -- the full U.S. Senate -- and said, "I am not guilty of having committed any crime."@@@@1@25@@oe@2-2-2013
21819017@unknown@formal@none@1@S@Seventeen articles of impeachment against the Florida judge, one of the few blacks on the U.S. bench, were approved by the House in August 1988.@@@@1@25@@oe@2-2-2013
21819018@unknown@formal@none@1@S@The central charge against Judge Hastings is that he conspired with a Washington lawyer to obtain a $150,000 bribe from defendants in a criminal case before the judge, in return for leniency.@@@@1@32@@oe@2-2-2013
21819019@unknown@formal@none@1@S@He is also accused of lying under oath and of leaking information obtained from a wiretap he supervised.@@@@1@18@@oe@2-2-2013
21819020@unknown@formal@none@1@S@The Senate's public gallery was packed with Judge Hastings' supporters, who erupted into applause after he finished his argument.@@@@1@19@@oe@2-2-2013
21819021@unknown@formal@none@1@S@Judge Hastings, who was acquitted of similar charges by a federal jury in 1983, claims he is being victimized and that the impeachment proceedings against him constitute double jeopardy.@@@@1@29@@oe@2-2-2013
21819022@unknown@formal@none@1@S@But Rep. John Bryant (D., Texas), the lead counsel for the House managers who conducted a lengthy inquiry into Judge Hastings' activities, said "a mountain of evidence points to his certain guilt."@@@@1@32@@oe@2-2-2013
21819023@unknown@formal@none@1@S@The Senate will deliberate behind closed doors today and is scheduled to vote on the impeachment tomorrow.@@@@1@17@@oe@2-2-2013
21819024@unknown@formal@none@1@S@If the judge is impeached, as is thought likely, he will be removed from office immediately.@@@@1@16@@oe@2-2-2013
21819025@unknown@formal@none@1@S@However, Judge Hastings has said he will continue to fight and is contemplating an appeal of any impeachment to the U.S. Supreme Court.@@@@1@23@@oe@2-2-2013
21819026@unknown@formal@none@1@S@COMPANIES SEEKING to make insurers pay for pollution cleanup win court victory.@@@@1@12@@oe@2-2-2013
21819027@unknown@formal@none@1@S@In a case involving Avondale Industries Inc. and its insurer, Travelers Cos., the Second U.S. Circuit Court of Appeals in New York ruled in favor of the company on two issues that lawyers say are central to dozens of pollution cases around the country.@@@@1@44@@oe@2-2-2013
21819028@unknown@formal@none@1@S@Travelers and other insurers have maintained that cleanup costs aren't damages and thus aren't covered under commercial policies.@@@@1@18@@oe@2-2-2013
21819029@unknown@formal@none@1@S@They also have argued that government proceedings notifying a company of potential responsibility don't fit the legal definition of a lawsuit; thus, such governmental proceedings aren't covered by the policies, the insurers say.@@@@1@33@@oe@2-2-2013
21819030@unknown@formal@none@1@S@The appeals court disagreed on both counts.@@@@1@7@@oe@2-2-2013
21819031@unknown@formal@none@1@S@Avondale was notified by Louisiana officials in 1986 that it was potentially responsible for a cleanup at an oil-recycling plant.@@@@1@20@@oe@2-2-2013
21819032@unknown@formal@none@1@S@Avondale asked Travelers to defend it in the state proceeding, but the insurer didn't respond.@@@@1@15@@oe@2-2-2013
21819033@unknown@formal@none@1@S@The appeals court upheld a district judge's ruling that the insurer had to defend the company in such proceedings.@@@@1@19@@oe@2-2-2013
21819034@unknown@formal@none@1@S@The appeals court also said, "We think an ordinary businessman reading this policy would have believed himself covered for the demands and potential damage claims" stemming from any cleanup.@@@@1@29@@oe@2-2-2013
21819035@unknown@formal@none@1@S@"This decision will have a very considerable impact," said Kenneth Abraham, professor of environmental law and insurance law at the University of Virginia, because many commercial insurance policies are issued by companies based in New York.@@@@1@36@@oe@2-2-2013
21819036@unknown@formal@none@1@S@William Greaney, an attorney for the Chemical Manufacturers Association, said that while other appeals courts have ruled differently on whether cleanup costs are damages, the influence of the appeals court in New York "will make insurers sit up and listen."@@@@1@40@@oe@2-2-2013
21819037@unknown@formal@none@1@S@He said the decision was the first in which a federal appeals court has ruled whether administrative government proceedings qualify as litigation.@@@@1@22@@oe@2-2-2013
21819038@unknown@formal@none@1@S@Barry R. Ostrager, an attorney for Travelers, said, "there are procedural bases on which this case will be appealed further."@@@@1@20@@oe@2-2-2013
21819039@unknown@formal@none@1@S@NEW YORK'S poor face nearly three million legal problems a year without legal help.@@@@1@14@@oe@2-2-2013
21819040@unknown@formal@none@1@S@That is the conclusion of a report released by the New York State Bar Association.@@@@1@15@@oe@2-2-2013
21819041@unknown@formal@none@1@S@The report was based on a telephone survey of 1,250 low-income households across the state, a mail survey of major legal-services programs and on-site interviews with individuals in the field.@@@@1@30@@oe@2-2-2013
21819042@unknown@formal@none@1@S@"The report provides detailed documentation of the extent and nature of the problem and indicates how we may want to shape solutions," said Joseph Genova, chairman of the committee that oversaw the survey and a partner at the law firm of Milbank, Tweed, Hadley & McCloy.@@@@1@46@@oe@2-2-2013
21819043@unknown@formal@none@1@S@According to the study, slightly more than 34% of those surveyed reported having at least one housing problem every year for which they had no legal help.@@@@1@27@@oe@2-2-2013
21819044@unknown@formal@none@1@S@Nearly 36% ranked housing problems as their most serious unmet legal need.@@@@1@12@@oe@2-2-2013
21819045@unknown@formal@none@1@S@Other areas targeted by the survey's respondents included difficulty obtaining or maintaining public benefits (22%), consumer fraud (15.4%), and health-care issues (15%).@@@@1@22@@oe@2-2-2013
21819046@unknown@formal@none@1@S@During the 15-month survey, 43% of all legal-services programs said that at some period they were unable to accept new clients unless they had an emergency.@@@@1@26@@oe@2-2-2013
21819047@unknown@formal@none@1@S@Mr. Genova said the committee may meet to propose solutions to the problems identified in the study.@@@@1@17@@oe@2-2-2013
21819048@unknown@formal@none@1@S@PROSECUTOR TO JOIN Gibson Dunn:@@@@1@5@@oe@2-2-2013
21819049@unknown@formal@none@1@S@Assistant U.S. Attorney Randy Mastro, who headed the government's racketeering case against the International Brotherhood of Teamsters, will join Gibson, Dunn & Crutcher in its New York office.@@@@1@28@@oe@2-2-2013
21819050@unknown@formal@none@1@S@Mr. Mastro has been with the New York U.S. attorney's office for nearly five years.@@@@1@15@@oe@2-2-2013
21819051@unknown@formal@none@1@S@In 1987 he became deputy chief of the civil division.@@@@1@10@@oe@2-2-2013
21819052@unknown@formal@none@1@S@Mr. Mastro will do civil litigation and white-collar defense work for Gibson Dunn, which is based in Los Angeles.@@@@1@19@@oe@2-2-2013
21819053@unknown@formal@none@1@S@FORMER APPLE COMPUTER Inc. general counsel John P. Karalis has joined the Phoenix, Ariz., law firm of Brown & Bain.@@@@1@20@@oe@2-2-2013
21819054@unknown@formal@none@1@S@Mr. Karalis, 51, will specialize in corporate law and international law at the 110-lawyer firm.@@@@1@15@@oe@2-2-2013
21819055@unknown@formal@none@1@S@Before joining Apple in 1986, Mr. Karalis served as general counsel at Sperry Corp.@@@@1@14@@oe@2-2-2013
21820001@unknown@formal@none@1@S@After failing to find a buyer for the Sears Tower in Chicago, Sears, Roebuck & Co. is negotiating with Boston pension fund adviser Aldrich, Eastman & Waltch Inc. to refinance the property for close to $850 million, according to people close to the negotiations.@@@@1@44@@oe@2-2-2013
21820002@unknown@formal@none@1@S@Under the proposed agreement involving the world's tallest building, Chicago-based Sears would receive about half the money through conventional mortgage financing and the other half as a convertible mortgage.@@@@1@29@@oe@2-2-2013
21820003@unknown@formal@none@1@S@At the end of the term of the convertible loan, Sears could still own half the building, and AEW could own the other half.@@@@1@24@@oe@2-2-2013
21820004@unknown@formal@none@1@S@Neither side would comment.@@@@1@4@@oe@2-2-2013
21820005@unknown@formal@none@1@S@The parties are currently negotiating over who would manage the building, which will be emptied of 6,000 employees from Sears' merchandise group, which is moving elsewhere.@@@@1@26@@oe@2-2-2013
21820006@unknown@formal@none@1@S@The new manager will face the daunting task of leasing 1.8 million square feet in a relatively soft Chicago real estate market.@@@@1@22@@oe@2-2-2013
21820007@unknown@formal@none@1@S@Also, it has not yet been decided exactly how much of the mortgage AEW will be able to convert into equity.@@@@1@21@@oe@2-2-2013
21820008@unknown@formal@none@1@S@Convertible mortgages have become an increasingly popular way to finance prestigious buildings of late.@@@@1@14@@oe@2-2-2013
21820009@unknown@formal@none@1@S@In a convertible mortgage, the investor lends the building owner a certain amount in return for the option to convert its interest into equity, usually less than 50%, at the end of the loan term.@@@@1@35@@oe@2-2-2013
21820010@unknown@formal@none@1@S@During the term, the lender can either receive a percentage of cash flow, a percentage of the building's appreciation or a fixed return.@@@@1@23@@oe@2-2-2013
21820011@unknown@formal@none@1@S@The main advantage of a convertible mortgage is that it is not a sale and therefore does not trigger costly transfer taxes and reappraisal.@@@@1@24@@oe@2-2-2013
21820012@unknown@formal@none@1@S@Sears said it would put the 110-story tower on the block almost a year ago as part of its anti-takeover restructuring.@@@@1@21@@oe@2-2-2013
21820013@unknown@formal@none@1@S@But Japanese institutions shied away from bidding on the high-profile tower out of fear their purchase of the property would trigger anti-Japanese sentiment.@@@@1@23@@oe@2-2-2013
21820014@unknown@formal@none@1@S@Last summer, Sears appeared to have a deal with Canadian developer Olympia & York Developments Ltd.@@@@1@16@@oe@2-2-2013
21820015@unknown@formal@none@1@S@But that deal fell through in September after it became clear that the sale would lead to a major real estate tax reassessment, raising property taxes, and making it difficult to lease the building at competitive prices.@@@@1@37@@oe@2-2-2013
21820016@unknown@formal@none@1@S@Real estate industry executives said Sears' investment banker, Goldman, Sachs & Co., sought financing in Japan.@@@@1@16@@oe@2-2-2013
21820017@unknown@formal@none@1@S@However, Japanese authorities apparently were concerned that a refinancing also would attract too much publicity.@@@@1@15@@oe@2-2-2013
21820018@unknown@formal@none@1@S@Sears then went back to AEW, the Boston pension adviser that had proposed a convertible debt deal during the first round of bids last spring.@@@@1@25@@oe@2-2-2013
21820019@unknown@formal@none@1@S@AEW has $3.5 billion of real estate investments nationwide, according to a spokesman.@@@@1@13@@oe@2-2-2013
21821001@unknown@formal@none@1@S@Tandy Corp. said it signed a definitive agreement to acquire two units of Datatronic AB of Stockholm for cash.@@@@1@19@@oe@2-2-2013
21821002@unknown@formal@none@1@S@The amount wasn't disclosed.@@@@1@4@@oe@2-2-2013
21821003@unknown@formal@none@1@S@The electronics maker and retailer previously estimated the sale price at between $100 million and $200 million for Datatronic's Victor microcomputer and Micronic hand-held computer subsidiaries.@@@@1@26@@oe@2-2-2013
21821004@unknown@formal@none@1@S@In addition, Tandy will acquire rights to the Victor and Micronic names for computers.@@@@1@14@@oe@2-2-2013
21821005@unknown@formal@none@1@S@During 1988, the Datatronic subsidiaries had combined sales in excess of $200 million.@@@@1@13@@oe@2-2-2013
21821006@unknown@formal@none@1@S@The transaction will give Tandy a well-known European computer brand that includes 2,700 dealers and distributors marketing to medium-sized business and educational institutions.@@@@1@23@@oe@2-2-2013
21821007@unknown@formal@none@1@S@Closing of the transaction is subject to certain conditions and regulatory approvals, the company said.@@@@1@15@@oe@2-2-2013
21822001@unknown@formal@none@1@S@Two rules in pending congressional legislation threaten to hinder leveraged buy-outs by raising the price tags of such deals by as much as 10%.@@@@1@24@@oe@2-2-2013
21822002@unknown@formal@none@1@S@Wall Street is seething over the rules, which would curtail the tax deductibility of debt used in most LBOs.@@@@1@19@@oe@2-2-2013
21822003@unknown@formal@none@1@S@The provisions, in deficit-reduction bills recently passed by the House and Senate, could further cool the takeover boom that has been the driving force behind the bull market in stocks for much of the 1980s, some tax experts and investment bankers argue.@@@@1@42@@oe@2-2-2013
21822004@unknown@formal@none@1@S@Indeed, some investment bankers have already started restructuring deals to cope with the expected rules.@@@@1@15@@oe@2-2-2013
21822005@unknown@formal@none@1@S@Wall Street has all but conceded on the issue and is now lobbying for the less onerous Senate version of one of the provisions.@@@@1@24@@oe@2-2-2013
21822006@unknown@formal@none@1@S@At issue is the deductibility of certain junk bonds that are used in most LBOs.@@@@1@15@@oe@2-2-2013
21822007@unknown@formal@none@1@S@Such high-yield debt is similar to a zero-coupon bond in that it is sold at a discount to face value, with interest accruing instead of being paid to the holder.@@@@1@30@@oe@2-2-2013
21822008@unknown@formal@none@1@S@Under current rules, that accrued interest is deductible by the company issuing the debt.@@@@1@14@@oe@2-2-2013
21822009@unknown@formal@none@1@S@The House version of the legislation would kill that deduction, and label any such debt as equity, which isn't deductible.@@@@1@20@@oe@2-2-2013
21822010@unknown@formal@none@1@S@The less-rigorous Senate version would defer the deductibility for roughly five years.@@@@1@12@@oe@2-2-2013
21822011@unknown@formal@none@1@S@"You see these in just about every LBO," said Robert Willens, senior vice president in charge of tax issues at Shearson Lehman Hutton Inc. in New York.@@@@1@27@@oe@2-2-2013
21822012@unknown@formal@none@1@S@"It becomes a source of cash" for the company making the LBO because it gets a deduction and doesn't have to repay the debt for several years.@@@@1@27@@oe@2-2-2013
21822013@unknown@formal@none@1@S@Typically, Mr. Willens estimates, this type of debt makes up 15% to 20% of the financing for LBOs.@@@@1@18@@oe@2-2-2013
21822014@unknown@formal@none@1@S@These types of bonds have been used in buy-outs of companies such as RJR Nabisco Inc., Storer Communications Inc. and Kroger Co.@@@@1@22@@oe@2-2-2013
21822015@unknown@formal@none@1@S@A second provision passed by the Senate and House would eliminate a rule allowing companies that post losses resulting from LBO debt to receive refunds of taxes paid over the previous three years.@@@@1@33@@oe@2-2-2013
21822016@unknown@formal@none@1@S@For example, if a company posted a loss of $100 million from buy-out interest payments, the existing rule would allow the concern to be able to receive a refund from the tax it paid from 1986 through 1989, when it may have been a profitable public company.@@@@1@47@@oe@2-2-2013
21822017@unknown@formal@none@1@S@But that rule is being virtually overlooked by Wall Street, which is concentrating on coping with the deduction issue.@@@@1@19@@oe@2-2-2013
21822018@unknown@formal@none@1@S@"Prices for LBOs have to come down if you don't have that feature," argued Lawrence Schloss, managing director for merchant banking at Donaldson, Lufkin & Jenrette Securities Corp. in New York.@@@@1@31@@oe@2-2-2013
21822019@unknown@formal@none@1@S@Several Wall Street officials say the proposed legislation already is having an impact.@@@@1@13@@oe@2-2-2013
21822020@unknown@formal@none@1@S@An investment group led by Chicago's Pritzker family recently lowered a $3.35 billion bid for American Medical International, Beverly Hills, Calif., because of the threat of the legislation.@@@@1@28@@oe@2-2-2013
21822021@unknown@formal@none@1@S@Moreover, one investment banker, who requested anonymity, said his firm didn't raise the ante for a target company earlier this month after a stronger bid emerged from a public company that wasn't concerned about the financing provision.@@@@1@37@@oe@2-2-2013
21822022@unknown@formal@none@1@S@"We would have paid more if we thought that law wasn't going to pass," he said.@@@@1@16@@oe@2-2-2013
21822023@unknown@formal@none@1@S@One possible solution for Wall Street is to increase the equity part of the transaction -- that is, give lenders a bigger stake in the surviving company rather than just interest payments.@@@@1@32@@oe@2-2-2013
21822024@unknown@formal@none@1@S@That would force the buy-out firm and the target company's management to reduce their level of ownership.@@@@1@17@@oe@2-2-2013
21822025@unknown@formal@none@1@S@"The pigs in the trough may have to give a little bit of the slop back and then the deal can go through," said Peter C. Canellos, tax partner at Wachtell, Lipton, Rosen & Katz.@@@@1@35@@oe@2-2-2013
21822026@unknown@formal@none@1@S@Another solution, said a tax lawyer who requested anonymity, is for firms to use convertible bonds that sell at a discount.@@@@1@21@@oe@2-2-2013
21822027@unknown@formal@none@1@S@Since they have a lower interest rate, they wouldn't fall under the junk-bond category that would lose its deductibility.@@@@1@19@@oe@2-2-2013
21822028@unknown@formal@none@1@S@The House version of the bill would make debt non-deductible if it pays five percentage points above Treasury notes, has at least a five-year maturity and doesn't pay interest for at least one year out of the first five.@@@@1@39@@oe@2-2-2013
21822029@unknown@formal@none@1@S@The bill would then declare that the debt is equity and therefore isn't deductible.@@@@1@14@@oe@2-2-2013
21822030@unknown@formal@none@1@S@The Senate bill would only deny the deduction until interest is actually paid.@@@@1@13@@oe@2-2-2013
21822031@unknown@formal@none@1@S@Currently, even though the issuer doesn't pay tax, the debt holder is taxed on the accrued interest.@@@@1@17@@oe@2-2-2013
21822032@unknown@formal@none@1@S@But those holders are often foreign investors and tax-exempt pension funds that don't pay taxes on their holdings.@@@@1@18@@oe@2-2-2013
21822033@unknown@formal@none@1@S@The Senate estimates that its version of the provision would yield $17 million the first year and a total of $409 million over five years.@@@@1@25@@oe@2-2-2013
21822034@unknown@formal@none@1@S@The House version would raise slightly more.@@@@1@7@@oe@2-2-2013
21822035@unknown@formal@none@1@S@Even if Wall Street finds ways around the new rules, a Senate aide contends LBOs will become somewhat more difficult.@@@@1@20@@oe@2-2-2013
21822036@unknown@formal@none@1@S@"There's no question it will make LBOs more expensive," he said.@@@@1@11@@oe@2-2-2013
21822037@unknown@formal@none@1@S@"The interest deduction was the engine that made these things more productive.@@@@1@12@@oe@2-2-2013
21823001@unknown@formal@none@1@S@The average publicly offered commodity fund fell 4.2% in September, largely because of the volatile markets in foreign currencies, according to Norwood Securities.@@@@1@23@@oe@2-2-2013
21823002@unknown@formal@none@1@S@The firm said that losers outnumbered gainers by more than three to one among the 122 funds it tracks.@@@@1@19@@oe@2-2-2013
21823003@unknown@formal@none@1@S@For the first nine months of the year, Norwood said the average fund has lost 3.3%.@@@@1@16@@oe@2-2-2013
21824001@unknown@formal@none@1@S@The government moved aggressively to open the spigots of federal aid for victims of the California earthquake, but its reservoir of emergency funds must be replenished soon if the aid is to continue.@@@@1@33@@oe@2-2-2013
21824002@unknown@formal@none@1@S@President Bush signed a disaster declaration covering seven Northern California counties.@@@@1@11@@oe@2-2-2013
21824003@unknown@formal@none@1@S@The declaration immediately made the counties eligible for temporary housing, grants and low-cost loans to cover uninsured property losses.@@@@1@19@@oe@2-2-2013
21824004@unknown@formal@none@1@S@In addition, an unusually wide array of federal agencies moved to provide specialized assistance.@@@@1@14@@oe@2-2-2013
21824005@unknown@formal@none@1@S@The Department of Housing and Urban Development prepared to make as many as 100 vacant houses available for those left homeless, the Agriculture Department was set to divert food from the school-lunch program to earthquake victims, and the Pentagon was providing everything from radio communications to blood transfusions to military police for directing traffic.@@@@1@54@@oe@2-2-2013
21824006@unknown@formal@none@1@S@But the pool of federal emergency-relief funds already is running low because of the heavy costs of cleaning up Hurricane Hugo, and Congress will be under pressure to allocate more money quickly.@@@@1@32@@oe@2-2-2013
21824007@unknown@formal@none@1@S@In Hugo's wake, Congress allocated $1.1 billion in relief funds, and White House spokesman Marlin Fitzwater said $273 million of that money remains and could be diverted for quick expenditures related to the earthquake.@@@@1@34@@oe@2-2-2013
21824008@unknown@formal@none@1@S@Now, though, enormous costs for earthquake relief will pile on top of outstanding costs for hurricane relief.@@@@1@17@@oe@2-2-2013
21824009@unknown@formal@none@1@S@"That obviously means that we won't have enough for all of the emergencies that are now facing us, and we will have to consider appropriate requests for follow-on funding," Mr. Fitzwater said.@@@@1@32@@oe@2-2-2013
21824010@unknown@formal@none@1@S@The federal government isn't even attempting yet to estimate how much the earthquake will cost it.@@@@1@16@@oe@2-2-2013
21824011@unknown@formal@none@1@S@But Mr. Fitzwater said, "There will be, I think quite obviously, a very large amount of money required from all levels of government."@@@@1@23@@oe@2-2-2013
21824012@unknown@formal@none@1@S@In Congress, lawmakers already are looking for ways to add relief funds.@@@@1@12@@oe@2-2-2013
21824013@unknown@formal@none@1@S@Money could be added to a pending spending bill covering the Federal Emergency Management Agency, which coordinates federal disaster relief.@@@@1@20@@oe@2-2-2013
21824014@unknown@formal@none@1@S@More likely, relief funds could be added to an omnibus spending bill that Congress is to begin considering next week.@@@@1@20@@oe@2-2-2013
21824015@unknown@formal@none@1@S@But it isn't just Washington's relief dollars that are spread thin; its relief manpower also is stretched.@@@@1@17@@oe@2-2-2013
21824016@unknown@formal@none@1@S@FEMA still has special disaster centers open to handle the aftermath of Hugo, and spokesman Russell Clanahan acknowledged that "we're pretty thin."@@@@1@22@@oe@2-2-2013
21824017@unknown@formal@none@1@S@Mr. Clanahan says FEMA now possibly may have the heaviest caseload in its history.@@@@1@14@@oe@2-2-2013
21824018@unknown@formal@none@1@S@To further complicate relief efforts, the privately funded American Red Cross also finds itself strapped for funds after its big Hugo operation.@@@@1@22@@oe@2-2-2013
21824019@unknown@formal@none@1@S@"It's been a bad month money-wise and every other way," said Sally Stewart, a spokeswoman for the Red Cross.@@@@1@19@@oe@2-2-2013
21824020@unknown@formal@none@1@S@"It just makes it a little rough when you have to worry about the budget."@@@@1@15@@oe@2-2-2013
21824021@unknown@formal@none@1@S@The Red Cross has opened 30 shelters in the Bay area, serving 5,000 people.@@@@1@14@@oe@2-2-2013
21824022@unknown@formal@none@1@S@Twenty-five trucks capable of cooking food were dispatched from other states.@@@@1@11@@oe@2-2-2013
21824023@unknown@formal@none@1@S@All the precise types of federal aid that will be sent to California won't be determined until state officials make specific requests to FEMA, agency officials said.@@@@1@27@@oe@2-2-2013
21824024@unknown@formal@none@1@S@And in the confusion after the earthquake, "the information flow is a little slow coming in from the affected area," said Carl Suchocki, a FEMA spokesman.@@@@1@26@@oe@2-2-2013
21824025@unknown@formal@none@1@S@Still, some aid is moving westward from Washington almost immediately.@@@@1@10@@oe@2-2-2013
21824026@unknown@formal@none@1@S@HUD officials said they will make available as many as 100 Bay area houses that are under HUD loans but now are vacant after the houses have been inspected to ensure they are sound.@@@@1@34@@oe@2-2-2013
21824027@unknown@formal@none@1@S@Additional housing vouchers and certificates will be made available, officials said, and some housing and community-development funds may be shifted from other programs or made available for emergency use.@@@@1@29@@oe@2-2-2013
21824028@unknown@formal@none@1@S@Another federal agency not normally associated with disaster relief -- the Internal Revenue Service -- moved quickly as well.@@@@1@19@@oe@2-2-2013
21824029@unknown@formal@none@1@S@The IRS said it will waive certain tax penalties for earthquake victims unable to meet return deadlines or make payments because of the quake's devastation.@@@@1@25@@oe@2-2-2013
21824030@unknown@formal@none@1@S@The agency plans to announce specific relief procedures in the coming days.@@@@1@12@@oe@2-2-2013
21824031@unknown@formal@none@1@S@And the Treasury said residents of the San Francisco area will be able to cash in savings bonds even if they haven't held them for the minimum six-month period.@@@@1@29@@oe@2-2-2013
21824032@unknown@formal@none@1@S@One advantage that federal officials have in handling earthquake relief is the large number of military facilities in the San Francisco Bay area, facilities that provide a ready base of supplies and workers.@@@@1@33@@oe@2-2-2013
21824033@unknown@formal@none@1@S@Even before the full extent of the devastation was known, Defense Secretary Dick Cheney ordered the military services to set up an emergency command center in the Pentagon and prepare to respond to various FEMA requests for assistance.@@@@1@38@@oe@2-2-2013
21824034@unknown@formal@none@1@S@By yesterday afternoon, Air Force transport planes began moving additional rescue and medical supplies, physicians, communications equipment and FEMA personnel to California.@@@@1@22@@oe@2-2-2013
21824035@unknown@formal@none@1@S@A military jet flew a congressional delegation and senior Bush administration officials to survey the damage.@@@@1@16@@oe@2-2-2013
21824036@unknown@formal@none@1@S@And the Pentagon said dozens of additional crews and transport aircraft were on alert "awaiting orders to move emergency supplies."@@@@1@20@@oe@2-2-2013
21824037@unknown@formal@none@1@S@Two Air Force facilities near Sacramento, and Travis Air Force Base, 50 miles northeast of San Francisco, were designated to serve as medical-airlift centers.@@@@1@24@@oe@2-2-2013
21824038@unknown@formal@none@1@S@Some victims also were treated at the Letterman Army Medical Center in San Francisco and at the Naval Hospital in Oakland.@@@@1@21@@oe@2-2-2013
21824039@unknown@formal@none@1@S@In addition, 20 military police from the Presidio, a military base in San Francisco, are assisting with traffic control, and a Navy ship was moved from a naval station at Treasure Island near the Bay Bridge to San Francisco to help fight fires.@@@@1@43@@oe@2-2-2013
21824040@unknown@formal@none@1@S@To help residents in Northern California rebuild, FEMA intends to set up 17 disaster assistance offices in the earthquake area in the next several days and to staff them with 400 to 500 workers from various agencies, said Robert Volland, chief of the agency's individual assistance division.@@@@1@47@@oe@2-2-2013
21824041@unknown@formal@none@1@S@At these offices, earthquake victims will be helped in filling out a one-page form that they will need to qualify for such federal assistance as home-improvement loans and to repair houses.@@@@1@31@@oe@2-2-2013
21824042@unknown@formal@none@1@S@And federal officials are promising to move rapidly with federal highway aid to rebuild the area's severely damaged road system.@@@@1@20@@oe@2-2-2013
21824043@unknown@formal@none@1@S@The Federal Highway Administration has an emergency relief program to help states and local governments repair federally funded highways and bridges seriously damaged by natural disasters.@@@@1@26@@oe@2-2-2013
21824044@unknown@formal@none@1@S@The account currently has $220 million.@@@@1@6@@oe@2-2-2013
21824045@unknown@formal@none@1@S@And though federal law dictates that only $100 million can be disbursed from that fund in any one state per disaster, administration officials expect Congress to move in to authorize spending more now in California.@@@@1@35@@oe@2-2-2013
21824046@unknown@formal@none@1@S@To get that money, states must go through an elaborate approval process, but officials expect red tape to be cut this time.@@@@1@22@@oe@2-2-2013
21824047@unknown@formal@none@1@S@Keith Mulrooney, special assistant to Federal Highway Administrator Thomas Larson, also said that after the 1971 San Fernando earthquake in Southern California, the state set tougher standards for bridges, and with federal aid, began a program to retrofit highways and bridges for earthquake hazards.@@@@1@44@@oe@2-2-2013
21824048@unknown@formal@none@1@S@The first phase of the program has been completed, but two other phases are continuing.@@@@1@15@@oe@2-2-2013
21824049@unknown@formal@none@1@S@The two major structures that failed Tuesday night, he said, were both built well before the 1971 earthquake -- the San Francisco Bay Bridge, completed in the 1930s, and the section of I-880, built in the 1950s.@@@@1@37@@oe@2-2-2013
21824050@unknown@formal@none@1@S@The I-880 section had completed the first phase of the retrofitting.@@@@1@11@@oe@2-2-2013
21824051@unknown@formal@none@1@S@Laurie McGinley contributed to this article.@@@@1@6@@oe@2-2-2013
21825001@unknown@formal@none@1@S@FARMERS REAP abundant crops.@@@@1@4@@oe@2-2-2013
21825002@unknown@formal@none@1@S@But how much will shoppers benefit?@@@@1@6@@oe@2-2-2013
21825003@unknown@formal@none@1@S@The harvest arrives in plenty after last year's drought-ravaged effort: The government estimates corn output at 7.45 billion bushels, up 51% from last fall.@@@@1@24@@oe@2-2-2013
21825004@unknown@formal@none@1@S@Soybean production swells 24%.@@@@1@4@@oe@2-2-2013
21825005@unknown@formal@none@1@S@As a result, prices paid to farmers for the commodities, which are used in products as diverse as bubble gum and chicken feed, plummet 20% to 33%.@@@@1@27@@oe@2-2-2013
21825006@unknown@formal@none@1@S@But don't expect too much in the way of price breaks soon at the supermarket.@@@@1@15@@oe@2-2-2013
21825007@unknown@formal@none@1@S@Economists expect consumer food prices to jump 5.5% this year to the highest level since 1980 and up from last year's 4.1% rise.@@@@1@23@@oe@2-2-2013
21825008@unknown@formal@none@1@S@Next year may see a drop of one percentage point.@@@@1@10@@oe@2-2-2013
21825009@unknown@formal@none@1@S@Beef prices, hovering near records since the drought, could drop in earnest this winter if ranchers expand herds.@@@@1@18@@oe@2-2-2013
21825010@unknown@formal@none@1@S@Lower feed prices may help animals eat more cheaply, but humans have to factor in an expensive middleman: the processor.@@@@1@20@@oe@2-2-2013
21825011@unknown@formal@none@1@S@Food companies probably won't cut their prices much, blaming other costs.@@@@1@11@@oe@2-2-2013
21825012@unknown@formal@none@1@S@"Labor takes the biggest single chunk out of the `food dollar,'" says Frank Pankyo of the Food Institute.@@@@1@18@@oe@2-2-2013
21825013@unknown@formal@none@1@S@Stokely says stores revive specials like three cans of peas for 99 cents.@@@@1@13@@oe@2-2-2013
21825014@unknown@formal@none@1@S@Two cans cost 89 cents during the drought.@@@@1@8@@oe@2-2-2013
21825015@unknown@formal@none@1@S@IF IN VITRO fertilization works, it usually does so after only a few tries.@@@@1@14@@oe@2-2-2013
21825016@unknown@formal@none@1@S@Costly infertility problems and procedures proliferate as aging baby boomers and others decide to have children -- now.@@@@1@18@@oe@2-2-2013
21825017@unknown@formal@none@1@S@It's estimated that one in six couples experiences infertility, and in 1987, Americans spent about $1 billion to fight the problem.@@@@1@21@@oe@2-2-2013
21825018@unknown@formal@none@1@S@Only about five states now offer some form of insurance coverage, but more are expected.@@@@1@15@@oe@2-2-2013
21825019@unknown@formal@none@1@S@A letter in the New England Journal of Medicine notes that while technology offers "almost endless hope . . . when to stop has become a difficult question. . . ."@@@@1@31@@oe@2-2-2013
21825020@unknown@formal@none@1@S@The authors, from Boston's Beth Israel Hospital, say that 84% of the 50 births they followed occurred after only two in vitro cycles.@@@@1@23@@oe@2-2-2013
21825021@unknown@formal@none@1@S@It adds that births were "extremely unlikely" after the fourth cycle and concludes couples who don't achieve a pregnancy after four to six procedures should be advised that success is unlikely.@@@@1@31@@oe@2-2-2013
21825022@unknown@formal@none@1@S@Some couples continue to try.@@@@1@5@@oe@2-2-2013
21825023@unknown@formal@none@1@S@"Such determination may translate into extreme physical, emotional and financial costs," the letter warns.@@@@1@14@@oe@2-2-2013
21825024@unknown@formal@none@1@S@MARKET MOVES, these managers don't.@@@@1@5@@oe@2-2-2013
21825025@unknown@formal@none@1@S@Only three of the 25 corporate pension fund managers attending a Lowry Consulting Group client conference say they plan to change the asset allocation mix in their portfolios because of the market drop.@@@@1@33@@oe@2-2-2013
21825026@unknown@formal@none@1@S@WORLD ODDITIES come alive in a multimedia version of the Guinness Book of Records.@@@@1@14@@oe@2-2-2013
21825027@unknown@formal@none@1@S@The $99 CD-ROM disk (it can only be played on an Apple Macintosh computer at the moment) combines animation, music and sound.@@@@1@22@@oe@2-2-2013
21825028@unknown@formal@none@1@S@Among the Guinness disk's wonders: the world's loudest recorded belch.@@@@1@10@@oe@2-2-2013
21825029@unknown@formal@none@1@S@ARTY FAX from David Hockney begins a tongue-in-cheek exhibit today at New York's Andre Emmerich Gallery.@@@@1@16@@oe@2-2-2013
21825030@unknown@formal@none@1@S@One of the artist's earliest Fax works was "Little Stanley Sleeping," a portrait of his dog.@@@@1@16@@oe@2-2-2013
21825031@unknown@formal@none@1@S@PACS GIVE and receive in a debatable duet with employees' favored charities.@@@@1@12@@oe@2-2-2013
21825032@unknown@formal@none@1@S@The Federal Election Commission clears corporate plans to donate to an employee's chosen charity in exchange for the worker's gift to the company political action committee.@@@@1@26@@oe@2-2-2013
21825033@unknown@formal@none@1@S@Latest approvals: Bell Atlantic's New Jersey Bell and General Dynamics.@@@@1@10@@oe@2-2-2013
21825034@unknown@formal@none@1@S@Companies get more political clout plus a possible tax-deductible charitable donation -- so far no word from the IRS on deductibility.@@@@1@21@@oe@2-2-2013
21825035@unknown@formal@none@1@S@Detroit Edison, the plan pioneer, generated $54,000 in matching funds this year, up from $39,000 in 1988.@@@@1@17@@oe@2-2-2013
21825036@unknown@formal@none@1@S@But the utility may not continue next year.@@@@1@8@@oe@2-2-2013
21825037@unknown@formal@none@1@S@"We're on a tight budget," says Detroit Edison's Carol Roskind.@@@@1@10@@oe@2-2-2013
21825038@unknown@formal@none@1@S@Two election commission members opposed the matching plans.@@@@1@8@@oe@2-2-2013
21825039@unknown@formal@none@1@S@Scott E. Thomas says the plans give employees "a bonus in the form of charitable donations made from an employer's treasury" in exchange for the political donation.@@@@1@27@@oe@2-2-2013
21825040@unknown@formal@none@1@S@"The U.S. government could be, in effect, subsidizing political contributions to corporate PACs," he says.@@@@1@15@@oe@2-2-2013
21825041@unknown@formal@none@1@S@New Jersey Bell awaits state clearance.@@@@1@6@@oe@2-2-2013
21825042@unknown@formal@none@1@S@Despite federal approval, General Dynamics says it decided it won't go ahead with the matching program.@@@@1@16@@oe@2-2-2013
21825043@unknown@formal@none@1@S@CHRISTMAS SHOPPERS find a helping hand from some catalog companies.@@@@1@10@@oe@2-2-2013
21825044@unknown@formal@none@1@S@Blunt Ellis & Loewi estimates direct mail catalog sales rose to $12 billion last year.@@@@1@15@@oe@2-2-2013
21825045@unknown@formal@none@1@S@And while it's too soon to tell how sales will fare in the important 1989 Christmas season, some companies take steps to ease the usual 11th-hour crush.@@@@1@27@@oe@2-2-2013
21825046@unknown@formal@none@1@S@Spiegel promises a "Guaranteed Christmas," with a pledge to deliver goods before Christmas if ordered by Dec. 20.@@@@1@18@@oe@2-2-2013
21825047@unknown@formal@none@1@S@And, for an extra $6, Land's End will deliver orders within two days; customers can designate the day.@@@@1@18@@oe@2-2-2013
21825048@unknown@formal@none@1@S@Spiegel, which also owns Eddie Bauer and Honeybee, says that since 1987, sales have doubled during the week before Christmas.@@@@1@20@@oe@2-2-2013
21825049@unknown@formal@none@1@S@An L.L. Bean spokeswoman notes: "People are just used to living in a last-minute society."@@@@1@15@@oe@2-2-2013
21825050@unknown@formal@none@1@S@Blunt Ellis, a Milwaukee brokerage firm, says part of the reason catalog sales grow in popularity is because consumers have more money but less time to spend it.@@@@1@28@@oe@2-2-2013
21825051@unknown@formal@none@1@S@L.L. Bean hires about 2,700 workers for the season rush, about 300 more than last year; Land's End hires 2,000.@@@@1@20@@oe@2-2-2013
21825052@unknown@formal@none@1@S@BRIEFS:@@@@1@1@@oe@2-2-2013
21825053@unknown@formal@none@1@S@Guarana Antarctica, a Brazilian soft drink, is brought to the U.S. by Amcap, Chevy Chase, Md.@@@@1@16@@oe@2-2-2013
21825054@unknown@formal@none@1@S@New Product News says the beverage "looks like ginger ale, tastes a little like cherries and smells like bubble gum." . . .@@@@1@23@@oe@2-2-2013
21825055@unknown@formal@none@1@S@"Amenities" planned for Chicago's new Parkshore Tower apartments include an on-site investment counselor.@@@@1@13@@oe@2-2-2013
21826001@unknown@formal@none@1@S@Four years ago, Pittsburgh was designated the most-livable U.S. city by Rand McNally's Places Rated Almanac, and the honor did wonders to improve Pittsburgh's soot-stained image.@@@@1@26@@oe@2-2-2013
21826002@unknown@formal@none@1@S@"People asked, is it really true?" says Maury Kelley, vice president, marketing services, for Beecham Products USA, a maker of health and personal-care products that used the ranking in its recruiting brochure.@@@@1@32@@oe@2-2-2013
21826003@unknown@formal@none@1@S@Yuba City, Calif., meanwhile, ranked dead last among 329 metro areas.@@@@1@11@@oe@2-2-2013
21826004@unknown@formal@none@1@S@Unamused, residents burned Rand McNally books and wore T-shirts that said: "Kiss my Atlas."@@@@1@14@@oe@2-2-2013
21826005@unknown@formal@none@1@S@The almanac will be making new friends and enemies on Oct. 27, when an updated version will be released.@@@@1@19@@oe@2-2-2013
21826006@unknown@formal@none@1@S@Pittsburgh figures it will be dethroned but plans to accept its ouster graciously.@@@@1@13@@oe@2-2-2013
21826007@unknown@formal@none@1@S@The city's Office of Promotion plans media events to welcome its successor.@@@@1@12@@oe@2-2-2013
21826008@unknown@formal@none@1@S@"We're encouraging a graceful transition," says Mary Kay Poppenberg, the organization's president.@@@@1@12@@oe@2-2-2013
21826009@unknown@formal@none@1@S@"Our attitude is that (the ranking) is like Miss America.@@@@1@10@@oe@2-2-2013
21826010@unknown@formal@none@1@S@Once you're Miss America, you're always Miss America."@@@@1@8@@oe@2-2-2013
21826011@unknown@formal@none@1@S@Tell that to Atlanta, which Pittsburgh replaced as the most-livable city in 1985.@@@@1@13@@oe@2-2-2013
21826012@unknown@formal@none@1@S@Many Atlantans thought Pittsburgh was an unworthy heir.@@@@1@8@@oe@2-2-2013
21826013@unknown@formal@none@1@S@A columnist in the Atlanta Journal and Constitution wrote: "Who did the research for this report?@@@@1@16@@oe@2-2-2013
21826014@unknown@formal@none@1@S@Two guys from Gary, Ind.?"@@@@1@5@@oe@2-2-2013
21826015@unknown@formal@none@1@S@Not so.@@@@1@2@@oe@2-2-2013
21826016@unknown@formal@none@1@S@Co-authors David Savageau and Richard Boyer, live in Gloucester, Mass., and Asheville, N.C., respectively.@@@@1@14@@oe@2-2-2013
21826017@unknown@formal@none@1@S@"Atlanta," Mr. Savageau sniffs, "has unrealistic pretensions to world-class status."@@@@1@10@@oe@2-2-2013
21826018@unknown@formal@none@1@S@The new edition lists the top 10 metropolitan areas as Anaheim-Santa Ana, Calif.; Boston; Louisville, Ky.; Nassau-Suffolk, N.Y.; New York; Pittsburgh; San Diego; San Francisco; Seattle; and Washington.@@@@1@28@@oe@2-2-2013
21826019@unknown@formal@none@1@S@Mr. Savageau says earthquake or not, San Francisco makes the list.@@@@1@11@@oe@2-2-2013
21826020@unknown@formal@none@1@S@But attention also rivets on who finishes last, and Pine Bluff, Ark. -- which finished third to last in 1981 and second to last in 1985 -- is certainly in the running.@@@@1@32@@oe@2-2-2013
21826021@unknown@formal@none@1@S@"I hate to dignify the publication by commenting on the obscene rating," Mayor Carolyn Robinson says, adding that cities have no way to rebut the book.@@@@1@26@@oe@2-2-2013
21826022@unknown@formal@none@1@S@"It's like fighting your way out of a fog.@@@@1@9@@oe@2-2-2013
21826023@unknown@formal@none@1@S@You don't know which way to punch.@@@@1@7@@oe@2-2-2013
21827001@unknown@formal@none@1@S@Northrop Corp.'s third-quarter net income fell 25% to $21.5 million, or 46 cents a share, while General Dynamics Corp. reported nearly flat earnings of $76.5 million, or $1.83 a share.@@@@1@30@@oe@2-2-2013
21827002@unknown@formal@none@1@S@Los Angeles-based Northrop recorded an 8.2% decline in sales as B-2 Stealth bomber research-and-development revenue continued to ebb and high costs on some other programs cut into profit.@@@@1@28@@oe@2-2-2013
21827003@unknown@formal@none@1@S@The aerospace concern earned $28.8 million, or 61 cents a share, a year earlier.@@@@1@14@@oe@2-2-2013
21827004@unknown@formal@none@1@S@Sales in the latest period were $1.25 billion, down from $1.36 billion in the 1988 quarter.@@@@1@16@@oe@2-2-2013
21827005@unknown@formal@none@1@S@At St. Louis-based General Dynamics, sales rose 10% to $2.52 billion from $2.29 billion.@@@@1@14@@oe@2-2-2013
21827006@unknown@formal@none@1@S@It earned $76.4 million, or $1.82 a share, in the 1988 quarter.@@@@1@12@@oe@2-2-2013
21827007@unknown@formal@none@1@S@General Dynamics credited significant earnings gains in its general aviation and material service segments, an earnings recovery in submarine operations, and higher military aircraft sales.@@@@1@25@@oe@2-2-2013
21827008@unknown@formal@none@1@S@Northrop said sales fell because of the decline in B-2 development dollars from the government as the plane continues its initial production stage and because fewer F/A-18 fighter sections are being produced in its subcontract work with prime contractor McDonnell Douglas Corp.@@@@1@42@@oe@2-2-2013
21827009@unknown@formal@none@1@S@In composite trading on the New York Stock Exchange, Northrop shares closed at $21.125, off 25 cents.@@@@1@17@@oe@2-2-2013
21827010@unknown@formal@none@1@S@General Dynamics closed at $54.875, up 50 cents.@@@@1@8@@oe@2-2-2013
21827011@unknown@formal@none@1@S@Northrop, which since early 1988 has declined to accept fixed-price contracts for research and development, said earnings were hurt by excessive costs on a number of such contracts won years ago.@@@@1@31@@oe@2-2-2013
21827012@unknown@formal@none@1@S@Among them were the ALQ-135 electronic countermeasures system for the F-15 fighter.@@@@1@12@@oe@2-2-2013
21827013@unknown@formal@none@1@S@Northrop's interest expense also soared to $35 million from $17 million a year ago.@@@@1@14@@oe@2-2-2013
21827014@unknown@formal@none@1@S@It said debt remained at the $1.22 billion that has prevailed since early 1989, although that compared with $911 million at Sept. 30, 1988.@@@@1@24@@oe@2-2-2013
21827015@unknown@formal@none@1@S@The backlog of undelivered orders at Northrop on Sept. 30 was $4.68 billion, down from $5.16 billion a year earlier.@@@@1@20@@oe@2-2-2013
21827016@unknown@formal@none@1@S@For the nine months, Northrop reported a net loss of $46.9 million, or $1 a share, compared with profit of $190.3 million, or $4.05 a share, in 1988.@@@@1@28@@oe@2-2-2013
21827017@unknown@formal@none@1@S@Sales dipped 3.6% to $3.92 billion from $4.07 billion.@@@@1@9@@oe@2-2-2013
21827018@unknown@formal@none@1@S@At General Dynamics, factors reducing earnings in the military aircraft segment included higher levels of cost-sharing in development of the Advanced Tactical Fighter, and the high cost of an advanced version of the F-16 fighter.@@@@1@35@@oe@2-2-2013
21827019@unknown@formal@none@1@S@F-16 deliveries also have fallen "slightly behind schedule," although a return to the previous schedule is expected in 1990, the company said.@@@@1@22@@oe@2-2-2013
21827020@unknown@formal@none@1@S@Backlog at General Dynamics rose to $16.5 billion from $15.8 billion.@@@@1@11@@oe@2-2-2013
21827021@unknown@formal@none@1@S@Its interest expense surged to $21.5 million from $12.4 million.@@@@1@10@@oe@2-2-2013
21827022@unknown@formal@none@1@S@For the nine months, General Dynamics earned $210.3 million, or $5.03 a share, up marginally from $208.8 million, or $4.97 a share, on a 4.9% rise in sales to $7.41 billion from $7.06 billion.@@@@1@34@@oe@2-2-2013
21828001@unknown@formal@none@1@S@Lotus Development Corp. reported a surprisingly strong 51% increase in third-quarter net income on a 32% sales gain, buoyed by strong demand for a new version of its 1-2-3 computer spreadsheet.@@@@1@31@@oe@2-2-2013
21828002@unknown@formal@none@1@S@The results topped analysts' expectations and the earnings growth of competitors, prompting traders to all but forget the product-launch delays that bogged down the company for much of the past two years.@@@@1@32@@oe@2-2-2013
21828003@unknown@formal@none@1@S@Yesterday, in heavy, national over-the-counter trading, Lotus shares rose to $32.50, up $1.25 apiece, capping a threemonth run-up of more than 40%.@@@@1@22@@oe@2-2-2013
21828004@unknown@formal@none@1@S@Lotus said net rose to $23 million, or 54 cents a share, on sales of $153.9 million.@@@@1@17@@oe@2-2-2013
21828005@unknown@formal@none@1@S@A year ago, net was $14.3 million, or 31 cents a share, on sales of $116.8 million.@@@@1@17@@oe@2-2-2013
21828006@unknown@formal@none@1@S@For the nine months, net of $38.5 million, or 92 cents a share, trailed the year earlier's $49.9 million, or $1.08 a share.@@@@1@23@@oe@2-2-2013
21828007@unknown@formal@none@1@S@Sales rose to $406 million from $356 million the year earlier.@@@@1@11@@oe@2-2-2013
21828008@unknown@formal@none@1@S@In the first half, Lotus struggled to keep market share with costly promotions while customers awaited the launch of 1-2-3 Release 3, the upgraded spreadsheet software.@@@@1@26@@oe@2-2-2013
21828009@unknown@formal@none@1@S@Lotus's results were about 10% higher than analysts' average expectations and compared favorably with the 36% earnings rise reported a day earlier by rival Microsoft Corp. of Redmond, Wash.@@@@1@29@@oe@2-2-2013
21828010@unknown@formal@none@1@S@The company said results were bolstered by upgrades to Release 3 by previous customers and improved profit margins, the result of manufacturing-cost controls.@@@@1@23@@oe@2-2-2013
21828011@unknown@formal@none@1@S@Rick Sherlund, a Goldman Sachs analyst, said Lotus had upgrade revenue of about $22 million in the quarter, twice what he had expected.@@@@1@23@@oe@2-2-2013
21828012@unknown@formal@none@1@S@Also, he estimated unit shipments of 1-2-3 in all its forms were about 315,000, up 7% from 1988's quarterly average.@@@@1@20@@oe@2-2-2013
21828013@unknown@formal@none@1@S@Demand for the new version was enabling Lotus to raise prices with distributors and to hold market share against Microsoft and other competitors that tried to exploit the earlier delays in Release 3's launch, Mr. Sherlund added.@@@@1@37@@oe@2-2-2013
21828014@unknown@formal@none@1@S@He estimated that 1-2-3 outsold Microsoft's Excel spreadsheet by four-to-one in the quarter, and held a 70% or better share of the spreadsheet market.@@@@1@24@@oe@2-2-2013
21829001@unknown@formal@none@1@S@Silicon Valley heaved a sigh of relief yesterday.@@@@1@8@@oe@2-2-2013
21829002@unknown@formal@none@1@S@Though details were sketchy in the aftermath of the violent earthquake that shook the high-tech corridor along with the rest of the San Francisco Bay area, a spot check of computer makers turned up little, if any, potentially lingering damage to facilities or fabrication equipment.@@@@1@45@@oe@2-2-2013
21829003@unknown@formal@none@1@S@Analysts and corporate officials said they expected practically no long-term disruption in shipments from the Valley of either hardware or software goods.@@@@1@22@@oe@2-2-2013
21829004@unknown@formal@none@1@S@Intel Corp., Advanced Micro Devices Inc. and National Semiconductor Corp. were all up and running yesterday, though many workers were forced to stay home because of damaged roadways; others elected to take the day off.@@@@1@35@@oe@2-2-2013
21829005@unknown@formal@none@1@S@"These systems are more rugged than many people would believe," said Thomas Kurlak, who tracks the computer industry for Merrill Lynch Research.@@@@1@22@@oe@2-2-2013
21829006@unknown@formal@none@1@S@"It's not the end of the world if you shake them up a little bit."@@@@1@15@@oe@2-2-2013
21829007@unknown@formal@none@1@S@Other companies, including International Business Machines Corp. and Hewlett-Packard Co., completely idled their operations because of Tuesday evening's temblor, which registered 6.9 on the Richter scale.@@@@1@26@@oe@2-2-2013
21829008@unknown@formal@none@1@S@Personnel spent the morning inspecting buildings for structural weaknesses, mopping up water from broken pipes and clearing ceiling tiles and other debris from factory floors.@@@@1@25@@oe@2-2-2013
21829009@unknown@formal@none@1@S@Still, many were confident that "in a day or two, everything should be back to normal," according to a spokeswoman for the Semiconductor Industry Association, based in Cupertino.@@@@1@28@@oe@2-2-2013
21829010@unknown@formal@none@1@S@IBM, for instance, said it anticipates returning to a normal work schedule by the weekend at its San Jose plant, which puts out disk drives for the 3090 family of mainframes.@@@@1@31@@oe@2-2-2013
21829011@unknown@formal@none@1@S@A Hewlett-Packard spokeswoman said that, while "things are a big mess," some 18,000 Valley employees have been called back to work today.@@@@1@22@@oe@2-2-2013
21829012@unknown@formal@none@1@S@Apple Computer added that it was being "cautiously optimistic," despite not yet closely eyeballing all of its 50 buildings in the region.@@@@1@22@@oe@2-2-2013
21829013@unknown@formal@none@1@S@Even the carefully calibrated machinery in its giant Fremont plant, to the north of the Valley, was believed to be undamaged.@@@@1@21@@oe@2-2-2013
21829014@unknown@formal@none@1@S@Sun Microsystems Inc. and Tandem Computers Inc. also signaled that they should recover quickly.@@@@1@14@@oe@2-2-2013
21829015@unknown@formal@none@1@S@Digital Equipment Corp., with major facilities in Santa Clara, Cupertino, Palo Alto and Mountain View, said that all of its engineering and manufacturing sites had reported to corporate headquarters in Maynard, Mass., Tuesday night.@@@@1@34@@oe@2-2-2013
21829016@unknown@formal@none@1@S@None sustained "significant" damage, a spokesman said, adding that "the delicate manufacturing process machines were checked and were all found to be operating normally."@@@@1@24@@oe@2-2-2013
21829017@unknown@formal@none@1@S@For many companies, of course, there is still a slew of nagging problems to grapple with, some of which have the potential to become quite serious.@@@@1@26@@oe@2-2-2013
21829018@unknown@formal@none@1@S@For example, a spokesman for Advanced Micro Devices said the Sunnyvale chip maker is worried about blackouts.@@@@1@17@@oe@2-2-2013
21829019@unknown@formal@none@1@S@A sudden surge or drop in electric power could ruin integrated circuits being built.@@@@1@14@@oe@2-2-2013
21829020@unknown@formal@none@1@S@But, given what might have happened to the fragile parts that are at the heart of the microelectronics business, the bulk of Valley companies seemed to be just about shouting hosannas.@@@@1@31@@oe@2-2-2013
21829021@unknown@formal@none@1@S@Several factors apparently spared the Valley -- a sprawling suburban stretch from San Jose to Palo Alto -- from the kind of impact felt in San Francisco, an hour's drive north.@@@@1@31@@oe@2-2-2013
21829022@unknown@formal@none@1@S@For one thing, buildings there tend to be newer and, thus, in step with the latest safety codes.@@@@1@18@@oe@2-2-2013
21829023@unknown@formal@none@1@S@Also, the soil in the Valley is solid, unlike the landfill of San Francisco's downtown Marina District, which was hit with fires and vast destruction.@@@@1@25@@oe@2-2-2013
21829024@unknown@formal@none@1@S@In addition, some microelectronics companies said they were prepared for tremulous conditions like Tuesday's.@@@@1@14@@oe@2-2-2013
21829025@unknown@formal@none@1@S@Their machine tools are even bolted to the shop floor.@@@@1@10@@oe@2-2-2013
21829026@unknown@formal@none@1@S@Intel said that over the past decade, it has installed computer sensors and shutoff valves, sensitive to the shake of an earthquake, in the pipes that snake through its plants.@@@@1@30@@oe@2-2-2013
21829027@unknown@formal@none@1@S@Like other large Valley companies, Intel also noted that it has factories in several parts of the nation, so that a breakdown at one location shouldn't leave customers in a total pinch.@@@@1@32@@oe@2-2-2013
21829028@unknown@formal@none@1@S@That's certainly good news for such companies as Compaq Computer Corp., Houston, which has only a four-day supply of microprocessors from the Valley on hand because of a just-in-time manufacturing approach that limits the buildup of inventory.@@@@1@37@@oe@2-2-2013
21829029@unknown@formal@none@1@S@Compaq said it foresees no difficulties in obtaining parts in the immediate future.@@@@1@13@@oe@2-2-2013
21829030@unknown@formal@none@1@S@Computer makers were scrambling to help customers recover from the disaster.@@@@1@11@@oe@2-2-2013
21829031@unknown@formal@none@1@S@Digital Equipment has set up disaster-recovery response centers in Dallas, Atlanta and Colorado Springs, Colo.@@@@1@15@@oe@2-2-2013
21829032@unknown@formal@none@1@S@These units were handling calls both from people in the San Francisco area and from computers themselves, which are set to dial Digital automatically when trouble arises.@@@@1@27@@oe@2-2-2013
21829033@unknown@formal@none@1@S@They then run remotely controlled self-diagnostic programs.@@@@1@7@@oe@2-2-2013
21829034@unknown@formal@none@1@S@Digital also said it has dispatched teams of technicians to California.@@@@1@11@@oe@2-2-2013
21829035@unknown@formal@none@1@S@Meanwhile, several other major installations around the Valley -- America's center of high-tech -- said they, too, fared as well as could be expected.@@@@1@24@@oe@2-2-2013
21829036@unknown@formal@none@1@S@Lawrence Livermore National Laboratory, where the Energy Department tests and conducts research on nuclear weapons, had only "superficial damage," a spokesman said.@@@@1@22@@oe@2-2-2013
21829037@unknown@formal@none@1@S@At Lockheed Corp.'s missiles and space systems group in Sunnyvale, about 40 miles south of San Francisco, workers were asked to head to work yesterday after it was realized that "there were no show-stoppers" in the 150-plus buildings on its one-square-mile campus.@@@@1@42@@oe@2-2-2013
21829038@unknown@formal@none@1@S@Several engineering and research offices needed closer scrutiny to make sure they weren't in danger of crumbling, but "the bulk of the place is in pretty good shape," an official said.@@@@1@31@@oe@2-2-2013
21829039@unknown@formal@none@1@S@One of Lockheed's most lucrative sectors -- accounting for more than half the aerospace company's $10.59 billion in sales in 1988 -- the missiles and space group is the prime Pentagon contractor on the Trident II ballistic missile.@@@@1@38@@oe@2-2-2013
21829040@unknown@formal@none@1@S@It also generates pieces of the missile shield called the Strategic Defense Initiative.@@@@1@13@@oe@2-2-2013
21829041@unknown@formal@none@1@S@Fortunately, the Hubble Space Telescope -- set to be launched on the shuttle next year in a search for distant solar systems and light emitted 14 billion years ago from the farthest reaches of the universe -- was moved from Sunnyvale to the Kennedy Space Center in Florida at the beginning of October.@@@@1@53@@oe@2-2-2013
21829042@unknown@formal@none@1@S@John R. Wilke contribued to this article.@@@@1@7@@oe@2-2-2013
21830001@unknown@formal@none@1@S@Michael Maynard offered the world a faster way to break eggs.@@@@1@11@@oe@2-2-2013
21830002@unknown@formal@none@1@S@As thanks, the egg industry tried to break him.@@@@1@9@@oe@2-2-2013
21830003@unknown@formal@none@1@S@And the egg producers have done a pretty good job.@@@@1@10@@oe@2-2-2013
21830004@unknown@formal@none@1@S@They tried to put Mr. Maynard out of business by an act of Congress.@@@@1@14@@oe@2-2-2013
21830005@unknown@formal@none@1@S@Egg-industry lobbying helped persuade six states to ban Mr. Maynard's automatic egg-breaking machine because of fears over salmonella.@@@@1@18@@oe@2-2-2013
21830006@unknown@formal@none@1@S@His company, Misa Manufacturing Inc., was forced to seek protection from creditors under federal bankruptcy law in 1987 and has since been liquidated.@@@@1@23@@oe@2-2-2013
21830007@unknown@formal@none@1@S@Monthly sales of his Egg King machine -- which he now is marketing through a new company -- have sunk to about half a dozen from a peak of 75, says the 46-year-old businessman.@@@@1@34@@oe@2-2-2013
21830008@unknown@formal@none@1@S@Mr. Maynard isn't the first entrepreneur to bump up against entrenched interests.@@@@1@12@@oe@2-2-2013
21830009@unknown@formal@none@1@S@But his case is notable both for the scale of the fight -- it isn't often that a congressional hearing is held to determine whether one small businessman is a threat to the republic -- and for what it tells about the pitfalls of marketing a new product.@@@@1@48@@oe@2-2-2013
21830010@unknown@formal@none@1@S@Now one might ask why people who sell eggs would fight someone who is trying to make it easier to crack them.@@@@1@22@@oe@2-2-2013
21830011@unknown@formal@none@1@S@Part of the answer lies in the nature of the industry.@@@@1@11@@oe@2-2-2013
21830012@unknown@formal@none@1@S@Many larger egg producers are also egg processors, who crack, inspect, and sanitize billions of eggs, turning them into powdered, liquified or frozen egg products.@@@@1@25@@oe@2-2-2013
21830013@unknown@formal@none@1@S@However, dozens of bakers, restaurant chefs and other food preparers who flocked to Mr. Maynard's defense say that products ranging from egg bread to eclairs lose some zip when the eggs come in 30-pound cans instead of shells.@@@@1@38@@oe@2-2-2013
21830014@unknown@formal@none@1@S@But for companies that use hundreds of eggs a day, breaking them by hand can get, well, out of hand.@@@@1@20@@oe@2-2-2013
21830015@unknown@formal@none@1@S@The idea behind the Egg King is pretty simple: put the eggs into a cylinder that contains perforated baskets, spin them at a high speed to break the shells and strain the edible part through the baskets.@@@@1@37@@oe@2-2-2013
21830016@unknown@formal@none@1@S@One Egg King -- which at just under four feet tall and two feet wide has been likened to the robot R2-D2 -- can crack about 20,000 eggs an hour.@@@@1@30@@oe@2-2-2013
21830017@unknown@formal@none@1@S@Because fresh eggs are less expensive than processed ones, a big egg user can recover the Egg King's $3,390 cost in a few months, says Mr. Maynard.@@@@1@27@@oe@2-2-2013
21830018@unknown@formal@none@1@S@Such centrifugal egg breakers have been around since the 1890s.@@@@1@10@@oe@2-2-2013
21830019@unknown@formal@none@1@S@But when Mr. Maynard came forward with his machine in the early 1970s nobody else was offering them in the U.S.@@@@1@21@@oe@2-2-2013
21830020@unknown@formal@none@1@S@The main reason: salmonella.@@@@1@4@@oe@2-2-2013
21830021@unknown@formal@none@1@S@Chickens carry this bacteria, which can cause upset stomachs and, in rare cases, death among people.@@@@1@16@@oe@2-2-2013
21830022@unknown@formal@none@1@S@Hens sometimes pass salmonella to the eggs, and it can also be found on unclean shells.@@@@1@16@@oe@2-2-2013
21830023@unknown@formal@none@1@S@Thus, any machine that breaks large amounts of eggs at once has the potential to spread salmonella if a bad egg gets in with the good ones.@@@@1@27@@oe@2-2-2013
21830024@unknown@formal@none@1@S@Mr. Maynard claims this is a manageable problem.@@@@1@8@@oe@2-2-2013
21830025@unknown@formal@none@1@S@The Egg King carries written instructions to break only high-grade eggs that have been properly sanitized and, as an added precaution, to use the eggs only in products that will be cooked enough to kill bacteria.@@@@1@36@@oe@2-2-2013
21830026@unknown@formal@none@1@S@With nearly 4,000 machines in use, there have been no salmonella problems as long as instructions were followed, Mr. Maynard boasts.@@@@1@21@@oe@2-2-2013
21830027@unknown@formal@none@1@S@He says the handful of salmonella cases involving products that may have used eggs broken by an Egg King stemmed from a failure to adequately cook the products.@@@@1@28@@oe@2-2-2013
21830028@unknown@formal@none@1@S@But he says that's no more a reason for banning Egg Kings than bad drivers are a reason for banning cars.@@@@1@21@@oe@2-2-2013
21830029@unknown@formal@none@1@S@Opponents don't buy such arguments.@@@@1@5@@oe@2-2-2013
21830030@unknown@formal@none@1@S@"Human nature being what it is, people don't always follow instructions," says Jack Guzewich, chief of food protection for the New York state Health Department.@@@@1@25@@oe@2-2-2013
21830031@unknown@formal@none@1@S@Leading the assault against the Egg King has been United Egg Producers.@@@@1@12@@oe@2-2-2013
21830032@unknown@formal@none@1@S@The Decatur, Ga., trade group has issued a "briefing book" that claims the machine is "a health hazard" and that Mr. Maynard is trying "to make a fast buck at the expense of the nation's egg producers."@@@@1@37@@oe@2-2-2013
21830033@unknown@formal@none@1@S@The UEP declines to comment, but the group's attorney, Alfred Frawley, says the group's actions are motivated solely by "health concerns."@@@@1@21@@oe@2-2-2013
21830034@unknown@formal@none@1@S@An early battleground was the U.S. Department of Agriculture.@@@@1@9@@oe@2-2-2013
21830035@unknown@formal@none@1@S@Mr. Maynard initially won approval for his machine to be used at egg-processing facilities regulated by the USDA's Food Safety Inspection Service.@@@@1@22@@oe@2-2-2013
21830036@unknown@formal@none@1@S@Unfortunately for Mr. Maynard, another branch of the USDA, the Agricultural Marketing Service, was in charge of eggs.@@@@1@18@@oe@2-2-2013
21830037@unknown@formal@none@1@S@After receiving complaints from egg producers, this branch got the other branch to rescind its approval, thus limiting the machine's potential market to bakeries and restaurants and other establishments that aren't regulated by the USDA.@@@@1@35@@oe@2-2-2013
21830038@unknown@formal@none@1@S@The egg producers also lobbied the Food and Drug Administration.@@@@1@10@@oe@2-2-2013
21830039@unknown@formal@none@1@S@But the FDA in a 1985 letter to the United Egg Producers said that there was "little likelihood" of a health problem as long as instructions were followed.@@@@1@28@@oe@2-2-2013
21830040@unknown@formal@none@1@S@So the producers went to Capitol Hill, where a congressman from Georgia introduced a measure to ban centrifugal egg-breaking machines.@@@@1@20@@oe@2-2-2013
21830041@unknown@formal@none@1@S@Mr. Maynard, whose company at the time was based in Santa Ana, Calif., enlisted his local congressman, and the battle was joined.@@@@1@22@@oe@2-2-2013
21830042@unknown@formal@none@1@S@Mr. Maynard's forces finally defeated the measure, though it took a vote on the floor of the House of Representatives to do it.@@@@1@23@@oe@2-2-2013
21830043@unknown@formal@none@1@S@Even then, opponents managed to get a congressional hearing to examine what one congressman called an "unscrupulous" method for breaking eggs.@@@@1@21@@oe@2-2-2013
21830044@unknown@formal@none@1@S@Foiled in their effort to get a national ban, the egg producers turned their attention to the states.@@@@1@18@@oe@2-2-2013
21830045@unknown@formal@none@1@S@So far, New York, New Jersey, Nebraska, Georgia, Michigan and Minnesota have outlawed Mr. Maynard's device, citing health concerns.@@@@1@19@@oe@2-2-2013
21830046@unknown@formal@none@1@S@An antitrust suit that Mr. Maynard's company filed in Los Angeles federal court against the United Egg Producers and others only added to the entrepreneur's woes.@@@@1@26@@oe@2-2-2013
21830047@unknown@formal@none@1@S@The judge dismissed the suit and ordered Mr. Maynard's company to pay over $100,000 in legal fees to the defendants' lawyers.@@@@1@21@@oe@2-2-2013
21830048@unknown@formal@none@1@S@Mr. Maynard says the ruling pushed his company into bankruptcy court.@@@@1@11@@oe@2-2-2013
21830049@unknown@formal@none@1@S@Now he has moved to Oklahoma where costs are lower, and started a new company, Adsi Inc., to market his machine.@@@@1@21@@oe@2-2-2013
21830050@unknown@formal@none@1@S@But, so far, the change of scenery hasn't ended his string of bad breaks.@@@@1@14@@oe@2-2-2013
21830051@unknown@formal@none@1@S@Mr. Maynard recently fell from a horse and fractured his arm.@@@@1@11@@oe@2-2-2013
21831001@unknown@formal@none@1@S@Michelle Pfeiffer can't chew gum and sing at the same time.@@@@1@11@@oe@2-2-2013
21831002@unknown@formal@none@1@S@But on the evidence of "The Fabulous Baker Boys," that may be the only thing she can't do, at least when she's acting in movies.@@@@1@25@@oe@2-2-2013
21831003@unknown@formal@none@1@S@As the tough, slinky lounge chanteuse in "The Fabulous Baker Boys," Ms. Pfeiffer sings for herself, and more than passably well.@@@@1@21@@oe@2-2-2013
21831004@unknown@formal@none@1@S@Her Susie Diamond handles a song the way the greats do, like she's hearing the way it should sound inside her head and she's concentrating on matching that internal tone.@@@@1@30@@oe@2-2-2013
21831005@unknown@formal@none@1@S@Yet her intensity stops and starts with the music.@@@@1@9@@oe@2-2-2013
21831006@unknown@formal@none@1@S@When she isn't performing for an audience, she prepares for a song by removing the wad of gum from her mouth, and indicates that she's finished by sticking the gum back in.@@@@1@32@@oe@2-2-2013
21831007@unknown@formal@none@1@S@Like almost everything in this wonderfully romantic and edgy movie, Ms. Pfeiffer's Susie seems like someone you've seen before, in numerous show-biz stories (even her name, Susie Diamond, sounds like a character Marilyn Monroe must have played).@@@@1@37@@oe@2-2-2013
21831008@unknown@formal@none@1@S@Yet nothing about "Baker Boys," and certainly nothing about Ms. Pfeiffer, really is like something from the video vault.@@@@1@19@@oe@2-2-2013
21831009@unknown@formal@none@1@S@Steve Kloves, the young writer and director (he isn't yet 30), has only one produced picture to his credit; he wrote the screenplay for "Racing With the Moon," a lovely coming-of-age picture set in the '40s.@@@@1@36@@oe@2-2-2013
21831010@unknown@formal@none@1@S@Both movies are infused with the nostalgic sensibility of someone much older, someone who doesn't dismiss dreams, but who also has enough experience to see his limits.@@@@1@27@@oe@2-2-2013
21831011@unknown@formal@none@1@S@However, Mr. Kloves directs his own material without sentimentality and at its own eccentric pace; "Baker Boys" is both bluesy and funny.@@@@1@22@@oe@2-2-2013
21831012@unknown@formal@none@1@S@He's put a fresh spin on material that could come off terribly cliched; for example, the way Susie wows an audience the first time she sings with the Baker Boys.@@@@1@30@@oe@2-2-2013
21831013@unknown@formal@none@1@S@Of course, it doesn't hurt that Mr. Kloves has made up for his lack of experience behind the camera with technicians who know exactly what they're doing.@@@@1@27@@oe@2-2-2013
21831014@unknown@formal@none@1@S@Much of the picture's sensuality emerges from cinematographer Michael Ballhaus's slyly seductive lens work.@@@@1@14@@oe@2-2-2013
21831015@unknown@formal@none@1@S@After working for years with Werner Rainer Fassbinder, the late German director, and more recently with Martin Scorsese ("After Hours," "The Color of Money," "The Last Temptation of Christ"), Mr. Ballhaus has developed a distinctively fluid style.@@@@1@37@@oe@2-2-2013
21831016@unknown@formal@none@1@S@And Dave Grusin's witty score embraces the banal requirements of banquet-hall musicianship ("Feelings" is a must) without condescension.@@@@1@18@@oe@2-2-2013
21831017@unknown@formal@none@1@S@Though Ms. Pfeiffer has the flashy part -- she gets the best comic bits and to wear glamorous dresses and spiked heelsthe boys are pretty great, too.@@@@1@27@@oe@2-2-2013
21831018@unknown@formal@none@1@S@What seemed like a good idea, to cast the Bridges brothers (Jeff and Beau) as the Baker brothers, actually turned out to be a good idea.@@@@1@26@@oe@2-2-2013
21831019@unknown@formal@none@1@S@Anyone who's tried to appear "natural" in front of a camera knows that it's much more natural to end up looking like a stiff.@@@@1@24@@oe@2-2-2013
21831020@unknown@formal@none@1@S@So it's quite possible that the terrific play between the brothers isn't natural at all, that Jeff and Beau had to work like crazy to make their brotherly love -- and resentment and frustration and rage -- seem so very real.@@@@1@41@@oe@2-2-2013
21831021@unknown@formal@none@1@S@When the movie opens the Baker brothers are doing what they've done for 15 years professionally, and twice as long as that for themselves: They're playing proficient piano, face-to-face, on twin pianos.@@@@1@32@@oe@2-2-2013
21831022@unknown@formal@none@1@S@They're small time in the small time-hotels (not the best ones) and restaurants in Seattle.@@@@1@15@@oe@2-2-2013
21831023@unknown@formal@none@1@S@Yet they don't disparage their audiences by disparaging their act.@@@@1@10@@oe@2-2-2013
21831024@unknown@formal@none@1@S@They wear tuxedos most nights, unless circumstances (a regular gig at a "tropical" lounge, for example) require them to wear special costumes, like Hawaiian shirts.@@@@1@25@@oe@2-2-2013
21831025@unknown@formal@none@1@S@Plump Beau, looking eager to please with his arched eyebrows and round face, plays the older brother, Frank.@@@@1@18@@oe@2-2-2013
21831026@unknown@formal@none@1@S@Frank plans the program, takes care of business, and approaches the work like any other job.@@@@1@16@@oe@2-2-2013
21831027@unknown@formal@none@1@S@He's even able to think of a job that takes him out of the house 300 nights a week as an ordinary job.@@@@1@23@@oe@2-2-2013
21831028@unknown@formal@none@1@S@He's got a wife and two kids and a house in the suburbs; the audience sees only the house, and only near the end of the movie.@@@@1@27@@oe@2-2-2013
21831029@unknown@formal@none@1@S@Frank grovels a little for the bookers, probably no more or less than he would have to if he worked for a big corporation.@@@@1@24@@oe@2-2-2013
21831030@unknown@formal@none@1@S@On his off-hours he wears cardigan sweaters.@@@@1@7@@oe@2-2-2013
21831031@unknown@formal@none@1@S@Jeff Bridges is the younger brother, Jack, who fancies himself the rebellious artist; he lives in a loft with his sick dog and the occasional visit from the little girl upstairs, who climbs down the fire escape.@@@@1@37@@oe@2-2-2013
21831032@unknown@formal@none@1@S@Yet Jack's the one who can remember every dive they ever played, and when, and he dutifully shows up for work night after night (he consoles himself with booze and by showing up at the last minute).@@@@1@37@@oe@2-2-2013
21831033@unknown@formal@none@1@S@Looking leaner than he has in a while, the younger Mr. Bridges's Jack is sexy and cynical and a far sadder case than Frank, who's managed to chisel his dreams to fit reality without feeling too cheated.@@@@1@37@@oe@2-2-2013
21831034@unknown@formal@none@1@S@He can live with little pleasures.@@@@1@6@@oe@2-2-2013
21831035@unknown@formal@none@1@S@Mr. Kloves has put together some priceless moments.@@@@1@8@@oe@2-2-2013
21831036@unknown@formal@none@1@S@These include Jennifer Tilly's audition to be the Baker Boys' girl singer.@@@@1@12@@oe@2-2-2013
21831037@unknown@formal@none@1@S@Ms. Tilly of the tweety-bird voice showed great comic promise during her stint as the mobster's girlfriend on the television show, "Hill Street Blues."@@@@1@24@@oe@2-2-2013
21831038@unknown@formal@none@1@S@Here she delivers, especially during her enthusiastically awful rendition of the "Candy Man," which she sings while prancing around in a little cotton candy pink angora sweater that couldn't be more perfect.@@@@1@32@@oe@2-2-2013
21831039@unknown@formal@none@1@S@(It matches her voice.)@@@@1@4@@oe@2-2-2013
21831040@unknown@formal@none@1@S@And Ms. Pfeiffer's particular version of "Making Whoopee" -- and the way Mr. Ballhaus photographs her, from the tips of her red high heels right up her clingy red velvet dress -- might make you think of Marilyn Monroe if Ms. Pfeiffer hadn't gone and become a star in her own right.@@@@1@52@@oe@2-2-2013
21831041@unknown@formal@none@1@S@VIDEO TIP:@@@@1@2@@oe@2-2-2013
21831042@unknown@formal@none@1@S@If you'd like to see the first time Michelle Pfeiffer sang on screen, and you have a lot of patience, take a look at "Grease 2."@@@@1@26@@oe@2-2-2013
21831043@unknown@formal@none@1@S@You'll find her there.@@@@1@4@@oe@2-2-2013
21831044@unknown@formal@none@1@S@Better yet, check out the emergence of her comic persona in "Married to the Mob," Jonathan Demme's delightful Mafia comedy.@@@@1@20@@oe@2-2-2013
21832001@unknown@formal@none@1@S@International Proteins Corp. definitively agreed to pay $49 million and 2,850,000 of its shares for Hanson PLC's Ground Round restaurant subsidiary.@@@@1@21@@oe@2-2-2013
21832002@unknown@formal@none@1@S@Shareholders of International Proteins, a food and agriproducts company, will vote on the transaction at a meeting late next month.@@@@1@20@@oe@2-2-2013
21832003@unknown@formal@none@1@S@Hanson is a London producer of consumer and other goods.@@@@1@10@@oe@2-2-2013
21832004@unknown@formal@none@1@S@International Proteins shares didn't trade yesterday on the American Stock Exchange.@@@@1@11@@oe@2-2-2013
21832005@unknown@formal@none@1@S@They closed Tuesday in composite trading at $13.625, down 37.5 cents, giving the stock portion of the transaction an indicated value of $38.8 million.@@@@1@24@@oe@2-2-2013
21833001@unknown@formal@none@1@S@Control Data Corp. agreed to sell its idle supercomputer manufacturing plant here to Minnesota Mining & Manufacturing Co. for $5.8 million.@@@@1@21@@oe@2-2-2013
21833002@unknown@formal@none@1@S@The tentative agreement calls for 3M to use the 115,000-square-foot plant and 19 acres of land for research laboratories.@@@@1@19@@oe@2-2-2013
21833003@unknown@formal@none@1@S@Control Data has been seeking a buyer for the facility since it folded its ETA Systems Inc. supercomputer unit this past April.@@@@1@22@@oe@2-2-2013
21834001@unknown@formal@none@1@S@General Dynamics Corp. was awarded contracts totaling $589 million for one Navy Trident submarine and for Air Force research on the National Aerospace plane.@@@@1@24@@oe@2-2-2013
21834002@unknown@formal@none@1@S@Grumman Corp. won a $58.9 million Navy contract for 12 F-14 aircraft.@@@@1@12@@oe@2-2-2013
21834003@unknown@formal@none@1@S@Raytheon Co. was issued a $19.2 million Air Force contract for support of the Milstar communications satellite.@@@@1@17@@oe@2-2-2013
21834004@unknown@formal@none@1@S@McDonnell Douglas Corp. got a $12.5 million Air Force contract for support work on the National Aerospace plane.@@@@1@18@@oe@2-2-2013
21835001@unknown@formal@none@1@S@Denis C. Smith was named to the new post of vice president of world-wide advanced materials operations for this chemicals concern.@@@@1@21@@oe@2-2-2013
21835002@unknown@formal@none@1@S@Mr. Smith, 50 years old, was formerly responsible for advanced materials, which include plastic composites and alloys, in North America only.@@@@1@21@@oe@2-2-2013
21835003@unknown@formal@none@1@S@Himont is 81%-owned by Montedison S.p.A. of Milan, Italy.@@@@1@9@@oe@2-2-2013
21836001@unknown@formal@none@1@S@Galveston-Houston Co. said it will redeem all 3,950 shares of its privately held 6.5% convertible Series C preferred stock Nov. 8.@@@@1@21@@oe@2-2-2013
21836002@unknown@formal@none@1@S@Holders can either convert each share into 421 shares of the company's common stock, or surrender their shares at the per-share price of $1,000, plus accumulated dividends of $6.71 a share.@@@@1@31@@oe@2-2-2013
21836003@unknown@formal@none@1@S@Galveston-Houston makes and markets products for the construction, mining and energy industries.@@@@1@12@@oe@2-2-2013
21837001@unknown@formal@none@1@S@Bank Building & Equipment Corp. of America, which previously said accounting discrepancies its auditors uncovered would hurt earnings and require restatement of earlier results, increased its projections of the negative fiscal impact, and said it was exploring the company's sale.@@@@1@40@@oe@2-2-2013
21837002@unknown@formal@none@1@S@Bank Building, which builds and equips banks, had announced it would restate the first-three quarters of this fiscal year, which ends Oct. 31.@@@@1@23@@oe@2-2-2013
21837003@unknown@formal@none@1@S@On Oct. 5, the company estimated after-tax effects on the year's earnings would be "at least" $1.3 million.@@@@1@18@@oe@2-2-2013
21837004@unknown@formal@none@1@S@Yesterday, the company said the negative after-tax effect on earnings for the year will be about $3.3 million.@@@@1@18@@oe@2-2-2013
21837005@unknown@formal@none@1@S@For the nine months ended July 31, Bank Building had a net loss of $1 million, on revenue of $66.5 million.@@@@1@21@@oe@2-2-2013
21837006@unknown@formal@none@1@S@Bank Building, which expects to report a fourth-quarter loss, said it engaged advisers to "explore financial alternatives for the company including the possible sale of the company or one or more of its units."@@@@1@34@@oe@2-2-2013
21837007@unknown@formal@none@1@S@Company auditors are continuing their review, and final restated figures aren't yet available.@@@@1@13@@oe@2-2-2013
21837008@unknown@formal@none@1@S@Bank Building earlier said the restatement is necessitated by "certain errors in recording receivables and payables" at its Loughman Cabinet division.@@@@1@21@@oe@2-2-2013
21837009@unknown@formal@none@1@S@That division's manager has been fired.@@@@1@6@@oe@2-2-2013
21837010@unknown@formal@none@1@S@In American Stock Exchange composite trading, Bank Building closed at $4 a share, down 62.5 cents.@@@@1@16@@oe@2-2-2013
21838001@unknown@formal@none@1@S@Gen. Paul X. Kelley, retired commandant of the U.S. Marine Corps, was elected a director of this plastics, specialty materials and aerospace concern, succeeding Jewel Lafontant, who resigned to accept a government position.@@@@1@33@@oe@2-2-2013
21839001@unknown@formal@none@1@S@Rep. Mary Rose Oakar (D., Ohio) at last week's hearings on irregularities in programs at the Department of Housing and Urban Development:@@@@1@22@@oe@2-2-2013
21839002@unknown@formal@none@1@S@I don't want to feel guilty representing my constituents.@@@@1@9@@oe@2-2-2013
21839003@unknown@formal@none@1@S@And if I think that some people {on HUD Secretary Jack Kemp's} staff are off base in terms in which they're evaluating certain things affecting my hometown, I have to tell you something -- I'm not going to take it.@@@@1@40@@oe@2-2-2013
21839004@unknown@formal@none@1@S@I think that I'm elected to represent the people that sent me here.@@@@1@13@@oe@2-2-2013
21839005@unknown@formal@none@1@S@And one of our charges is to be an ombudsman for our area.@@@@1@13@@oe@2-2-2013
21839006@unknown@formal@none@1@S@And if we're not ombudsman for our area, we ought to be thrown out of office.@@@@1@16@@oe@2-2-2013
21839007@unknown@formal@none@1@S@On the other hand, if we're asking for something unreasonable or unethical and so on, then that's a whole different story.@@@@1@21@@oe@2-2-2013
21839008@unknown@formal@none@1@S@But if I feel that there are situations where I'm trying to get housing for our area -- whatever it happens to be -- and I have to feel that I can't even ask a question, I've got to tell you, I think that's outrageous. .@@@@1@46@@oe@2-2-2013
21839009@unknown@formal@none@1@S@I think these regulations that would prohibit well-operated programs in areas across this country would be wrong to change. . . .@@@@1@22@@oe@2-2-2013
21839010@unknown@formal@none@1@S@I don't want to see some guidelines change that's going to inhibit my city's opportunity to use its money.@@@@1@19@@oe@2-2-2013
21840001@unknown@formal@none@1@S@The Chicago Mercantile Exchange said it fined Capcom Futures Inc. $500,000 and accepted its withdrawal from membership as part of a settlement of disciplinary actions against the firm.@@@@1@28@@oe@2-2-2013
21840002@unknown@formal@none@1@S@Capcom Futures is a Chicago subsidiary of Capcom Financial Services Ltd., a London financial firm that was implicated last year in a scheme to launder drug money.@@@@1@27@@oe@2-2-2013
21840003@unknown@formal@none@1@S@The case is pending.@@@@1@4@@oe@2-2-2013
21840004@unknown@formal@none@1@S@The firm was indicted in Tampa, Fla., on money-laundering charges.@@@@1@10@@oe@2-2-2013
21840005@unknown@formal@none@1@S@In June, the Chicago Board of Trade said it suspended Capcom Financial.@@@@1@12@@oe@2-2-2013
21840006@unknown@formal@none@1@S@The Capcom Futures unit withdrew from Board of Trade membership voluntarily in August, a Board of Trade spokesman said.@@@@1@19@@oe@2-2-2013
21840007@unknown@formal@none@1@S@Capcom Futures, while neither admitting nor denying the Merc charges, said in a statement that the Merc charges were "technical in nature" and that "no customers were hurt" as a result of the violations cited by the Merc.@@@@1@38@@oe@2-2-2013
21840008@unknown@formal@none@1@S@The Merc alleged that, among other things, from April 1987 through October 1988 Capcom Futures failed to document trades between Capcom Futures and people or entities directly or indirectly controlled by Capcom Futures shareholders.@@@@1@34@@oe@2-2-2013
21841001@unknown@formal@none@1@S@Frederick W. Lang, 65 years old, the founder of this software services concern, was elected to the new post of chairman.@@@@1@21@@oe@2-2-2013
21841002@unknown@formal@none@1@S@Formerly president and treasurer, Mr. Lang remains chief executive officer.@@@@1@10@@oe@2-2-2013
21841003@unknown@formal@none@1@S@Victor C. Benda, 58, formerly executive vice president, succeeds Mr. Lang as president and becomes chief operating officer, a new post.@@@@1@21@@oe@2-2-2013
21842001@unknown@formal@none@1@S@Maurice Warren, 56-year-old group managing director, was named chief executive officer of this food and agriculture group.@@@@1@17@@oe@2-2-2013
21842002@unknown@formal@none@1@S@The post of chief executive has been vacant since July when Terry Pryce, 55, left the company.@@@@1@17@@oe@2-2-2013
21843001@unknown@formal@none@1@S@Money-market mutual fund assets grew at nearly three times their usual rate in the latest week, as investors opted for safety instead of the stock market.@@@@1@26@@oe@2-2-2013
21843002@unknown@formal@none@1@S@Money-fund assets soared $4.5 billion in the week ended Tuesday, to a record $348.4 billion, according to IBC/Donoghue's Money Fund Report, a Holliston, Mass.-based newsletter.@@@@1@25@@oe@2-2-2013
21843003@unknown@formal@none@1@S@"We were expecting it, following the fall of the Dow Friday," said Brenda Malizia Negus, editor of Money Fund Report.@@@@1@20@@oe@2-2-2013
21843004@unknown@formal@none@1@S@"It's the proverbial flight to safety."@@@@1@6@@oe@2-2-2013
21843005@unknown@formal@none@1@S@Despite recent declines in interest rates, money funds continue to offer better yields than other comparable investments.@@@@1@17@@oe@2-2-2013
21843006@unknown@formal@none@1@S@The average seven-day compound yield on the 400 taxable funds tracked by IBC/Donoghue's was 8.55% in the latest week, down from 8.60%.@@@@1@22@@oe@2-2-2013
21843007@unknown@formal@none@1@S@Compound yields assume reinvestment of dividends and that current yields continue for a year.@@@@1@14@@oe@2-2-2013
21843008@unknown@formal@none@1@S@Most short-term certificates of deposit are yielding about 8% or less at major banks, and the yields on Treasury bills sold at Monday's auction fell to 7.61% for three months and 7.82% for six months.@@@@1@35@@oe@2-2-2013
21843009@unknown@formal@none@1@S@Money-fund assets have been rising at an average rate of $1.6 billion a week in recent months, Ms. Negus said, reflecting the relatively high yields.@@@@1@25@@oe@2-2-2013
21843010@unknown@formal@none@1@S@In the latest week, funds open to institutions alone grew by $1.8 billion.@@@@1@13@@oe@2-2-2013
21843011@unknown@formal@none@1@S@Some fund managers say inflows could increase in coming days as a result of stock selling in the wake of Friday's 190.58point drop in the Dow Jones Industrial Average.@@@@1@29@@oe@2-2-2013
21843012@unknown@formal@none@1@S@"If you're selling equities, you don't start getting proceeds for five to seven days," said Frank Rachwalski, who manages the Kemper Money Market Fund.@@@@1@24@@oe@2-2-2013
21843013@unknown@formal@none@1@S@Neal Litvack, marketing vice president for Fidelity Investments, said inflows Friday into Fidelity's Spartan and Cash Reserves money-market funds were about twice normal levels, with about half coming from equity and junk-bond funds.@@@@1@33@@oe@2-2-2013
21843014@unknown@formal@none@1@S@Monday and Tuesday "were lackluster in comparison," he said.@@@@1@9@@oe@2-2-2013
21843015@unknown@formal@none@1@S@"People aren't necessarily running scared," Mr. Litvack said.@@@@1@8@@oe@2-2-2013
21843016@unknown@formal@none@1@S@"They're maintaining their attitude toward investing, which has leaned toward the conservative recently."@@@@1@13@@oe@2-2-2013
21843017@unknown@formal@none@1@S@Money-fund yields tend to lag interestrate trends as portfolio managers adjust the maturities of their investments -- short-term Treasury securities, commercial paper and the like -- to capture the highest yields.@@@@1@31@@oe@2-2-2013
21843018@unknown@formal@none@1@S@Maturities usually are shorter when rates are rising and longer when they are falling.@@@@1@14@@oe@2-2-2013
21843019@unknown@formal@none@1@S@The average maturity of the funds tracked by IBC/Donoghue's remained at 38 days for the third consecutive week.@@@@1@18@@oe@2-2-2013
21843020@unknown@formal@none@1@S@It was as short as 29 days at the start of this year, when rates were marching steadily upward, and hit 42 days in August.@@@@1@25@@oe@2-2-2013
21843021@unknown@formal@none@1@S@The average seven-day simple yield of the funds fell to 8.21% this week from 8.26%.@@@@1@15@@oe@2-2-2013
21843022@unknown@formal@none@1@S@The average 30-day simple yield was 8.26%, compared with 8.27% the week before, and the 30-day compound yield slid to 8.60% from 8.61%.@@@@1@23@@oe@2-2-2013
21843023@unknown@formal@none@1@S@Some funds are posting yields far higher than the average.@@@@1@10@@oe@2-2-2013
21843024@unknown@formal@none@1@S@The highest yielding taxable fund this week was Harbor Money Market Fund, with a seven-day compound yield of 12.75%.@@@@1@19@@oe@2-2-2013
21843025@unknown@formal@none@1@S@That included capital gains that were passed along to customers.@@@@1@10@@oe@2-2-2013
21843026@unknown@formal@none@1@S@Among the other high-yielding funds, Fidelity's Spartan Fund had a seven-day compound yield of 9.33% in the latest week.@@@@1@19@@oe@2-2-2013
21843027@unknown@formal@none@1@S@The seven-day compound yield of the Dreyfus Worldwide Dollar Fund was 9.51%.@@@@1@12@@oe@2-2-2013
21844001@unknown@formal@none@1@S@whose Della Femina McNamee WCRS agency created liar Joe Isuzu, among others -- announced a massive restructuring that largely removes it from the advertising business and includes selling the majority of its advertising unit to Paris-based Eurocom.@@@@1@37@@oe@2-2-2013
21844002@unknown@formal@none@1@S@The complex restructuring, which was long expected, transforms London-based WCRS from primarily a creator of advertising into one of Europe's largest buyers of advertising time and space.@@@@1@27@@oe@2-2-2013
21844003@unknown@formal@none@1@S@It also creates a newly merged world-wide ad agency controlled by Eurocom and headed jointly by New York ad man Jerry Della Femina and two top WCRS executives.@@@@1@28@@oe@2-2-2013
21844004@unknown@formal@none@1@S@The merged agency's admittedly ambitious goal: to become one of the world's 10 largest agencies, while attracting more multinational clients than the agencies were able to attract alone.@@@@1@28@@oe@2-2-2013
21844005@unknown@formal@none@1@S@WCRS's restructuring reflects the growing importance of media buying in Europe, where the only way to get a good price on advertising time and space is to buy it in bulk.@@@@1@31@@oe@2-2-2013
21844006@unknown@formal@none@1@S@For Eurocom, meanwhile, the move gives it a strong U.S. foothold in Della Femina, and more than quadruples the size of its ad agency business world-wide.@@@@1@26@@oe@2-2-2013
21844007@unknown@formal@none@1@S@It also gives the outspoken Mr. Della Femina -- who often generates as much publicity for himself as for his clients -- an international platform that he most certainly won't be loath to use.@@@@1@34@@oe@2-2-2013
21844008@unknown@formal@none@1@S@According to terms, WCRS will pay 2.02 billion French francs ($318.6 million) for the 50% it doesn't already own of Carat Holding S.A., one of Europe's largest media buyers.@@@@1@29@@oe@2-2-2013
21844009@unknown@formal@none@1@S@Meanwhile, Eurocom, which had held 20% of WCRS's ad unit, will pay #43.5 million ($68.5 million) to raise its stake to 60%.@@@@1@22@@oe@2-2-2013
21844010@unknown@formal@none@1@S@That price also covers Eurocom raising to 60% its 51% stake in Europe's Belier Group, a joint venture ad agency network it owns with WCRS.@@@@1@25@@oe@2-2-2013
21844011@unknown@formal@none@1@S@Eurocom will also have the right to buy the remaining 40% of the merged ad agency group in six years.@@@@1@20@@oe@2-2-2013
21844012@unknown@formal@none@1@S@The transaction places the three executives squarely at the helm of a major agency with the rather unwieldy name of Eurocom WCRS Della Femina Ball Ltd., or EWDB.@@@@1@28@@oe@2-2-2013
21844013@unknown@formal@none@1@S@The merged agency will include Della Femina McNamee based in New York, Eurocom's various agencies in France, the Belier Group in Europe and WCRS's other advertising and direct marketing operations.@@@@1@30@@oe@2-2-2013
21844014@unknown@formal@none@1@S@Mr. Della Femina will be joint chairman with former WCRS executive Robin Wight.@@@@1@13@@oe@2-2-2013
21844015@unknown@formal@none@1@S@Both will report to Tim Breene, a former WCRS executive who will be chief executive officer at the new agency.@@@@1@20@@oe@2-2-2013
21844016@unknown@formal@none@1@S@In an interview in New York, Mr. Breene, fresh from a Concorde flight from Paris where executives had worked through most of the night, outlined big plans for the new agency.@@@@1@31@@oe@2-2-2013
21844017@unknown@formal@none@1@S@"Our goal is to develop quite rapidly to a top-10 position . . . by the end of three years from now.@@@@1@22@@oe@2-2-2013
21844018@unknown@formal@none@1@S@It implies very dramatic growth," he said.@@@@1@7@@oe@2-2-2013
21844019@unknown@formal@none@1@S@He added that Eurocom and WCRS had agreed to provide a development fund of #100 million for acquisitions.@@@@1@18@@oe@2-2-2013
21844020@unknown@formal@none@1@S@The new agency group is already in discussions about a possible purchase in Spain, while Mr. Breene said it also plans to make acquisitions in Scandinavia, Germany and elsewhere.@@@@1@29@@oe@2-2-2013
21844021@unknown@formal@none@1@S@Cracking the top 10 within three years will be difficult at best.@@@@1@12@@oe@2-2-2013
21844022@unknown@formal@none@1@S@Della Femina had billings of just $660 million last year and ranked as the U.S.'s 24th-largest ad agency.@@@@1@18@@oe@2-2-2013
21844023@unknown@formal@none@1@S@The merged company that it now becomes part of will have billings of just more than $2.6 billion -- most of that in Europe -- bringing it to about 14th world-wide.@@@@1@31@@oe@2-2-2013
21844024@unknown@formal@none@1@S@To make it to top-10 status, it would have to leapfrog over such formidable forces as Grey Advertising, D'Arcy Masius Benton & Bowles and Omnicom's DDB Needham.@@@@1@27@@oe@2-2-2013
21844025@unknown@formal@none@1@S@The merged agency's game plan to attract multinational packaged-goods advertisers may prove equally difficult.@@@@1@14@@oe@2-2-2013
21844026@unknown@formal@none@1@S@When WCRS created Della Femina McNamee out of the merger of three smaller agency units in 1988, it said it did so in order to attract larger clients, especially packaged-goods companies.@@@@1@31@@oe@2-2-2013
21844027@unknown@formal@none@1@S@Since then, Della Femina won Pan Am as an international client and also does work for a few packaged-goods clients, including Dow Chemical Co.'s Saran Wrap.@@@@1@26@@oe@2-2-2013
21844028@unknown@formal@none@1@S@But major packaged-goods players of the world -- such as Procter & Gamble, Colgate-Palmolive and Unilever -- have steadfastly eluded the agency.@@@@1@22@@oe@2-2-2013
21844029@unknown@formal@none@1@S@"Three of our favorite names," Mr. Della Femina calls that roster, adding hopefully, "We're a much more attractive agency to large multinationals today than we were yesterday."@@@@1@27@@oe@2-2-2013
21844030@unknown@formal@none@1@S@Still, the restructuring could create one of the most powerful alliances between advertising and media-buying firms that Europe has seen.@@@@1@20@@oe@2-2-2013
21844031@unknown@formal@none@1@S@As part of the restructuring, WCRS and Eurocom said they will look for ways to combine their media buying across Europe.@@@@1@21@@oe@2-2-2013
21844032@unknown@formal@none@1@S@What's more, both Eurocom and brothers Francis and Gilbert Gross, who founded Carat, will acquire 14.99% stakes in WCRS Group, creating a powerful link between Eurocom and Carat.@@@@1@28@@oe@2-2-2013
21844033@unknown@formal@none@1@S@Carat will receive its WCRS stake as part of payment for the 50% Carat stake that WCRS is buying, while Eurocom said it expects to pay about #32 million for its WCRS stake.@@@@1@33@@oe@2-2-2013
21844034@unknown@formal@none@1@S@Mr. Della Femina says he plans to remain heavily involved in the creative product at the world-wide agency, serving as a sort of "creative conscience."@@@@1@25@@oe@2-2-2013
21844035@unknown@formal@none@1@S@Louise McNamee, Della Femina's president, will continue running the U.S. agency day-to-day.@@@@1@12@@oe@2-2-2013
21844036@unknown@formal@none@1@S@They and other top executives signed long-term employment contracts and Mr. Della Femina will receive an additional multimillion-dollar sum, which some industry executives pegged at about $10 million.@@@@1@28@@oe@2-2-2013
21844037@unknown@formal@none@1@S@WCRS Group, for its part, will now be able to follow its longstanding plan of becoming "a holding company for a series of media-related businesses," said Peter Scott, the firm's chief executive.@@@@1@32@@oe@2-2-2013
21844038@unknown@formal@none@1@S@In addition to Carat, WCRS will hold onto its public relations, TV programming and other businesses.@@@@1@16@@oe@2-2-2013
21844039@unknown@formal@none@1@S@WCRS says its debt will be cut to #24 million from #66 million as a result of the transaction.@@@@1@19@@oe@2-2-2013
21844040@unknown@formal@none@1@S@For Carat, meanwhile, the alliance with Eurocom and WCRS is intended to strengthen its own push outside France.@@@@1@18@@oe@2-2-2013
21844041@unknown@formal@none@1@S@Carat's Gross brothers invented the idea of large-scale buying of media space.@@@@1@12@@oe@2-2-2013
21844042@unknown@formal@none@1@S@By buying the space in bulk, they obtain discounts as high as 50%, which they can pass on to customers.@@@@1@20@@oe@2-2-2013
21844043@unknown@formal@none@1@S@They thus have won the French space-buying business of such advertising giants as Coca-Cola Co., Fiat S.p.A., Gillette and Kodak.@@@@1@20@@oe@2-2-2013
21844044@unknown@formal@none@1@S@But now, other agencies are getting into the business with their own competing media-buying groups -- and Carat wants to expand to the rest of Europe.@@@@1@26@@oe@2-2-2013
21844045@unknown@formal@none@1@S@To help finance the Carat purchase, WCRS said it plans an issue of Euroconvertible preferred shares once the market settles down.@@@@1@21@@oe@2-2-2013
21844046@unknown@formal@none@1@S@But WCRS added that "in the light of the current uncertainty in the equity markets," it has arranged medium-term debt financing, which would be underwritten by Samuel Montagu & Co. Ltd.@@@@1@31@@oe@2-2-2013
21844047@unknown@formal@none@1@S@Earthquake's Damage@@@@1@2@@oe@2-2-2013
21844048@unknown@formal@none@1@S@Tuesday's earthquake brought the San Francisco ad scene to a screeching halt yesterday, with only a few staffers showing up at their offices, mainly to survey the damage or to wring their hands about imminent new-business presentations.@@@@1@37@@oe@2-2-2013
21844049@unknown@formal@none@1@S@While no agencies reported injuries to employees, the quake damaged the offices of J. Walter Thompson, Chiat/Day/Mojo and DDB Needham, among others, spokesmen for those agencies said.@@@@1@27@@oe@2-2-2013
21844050@unknown@formal@none@1@S@Staffers at Thompson, whose offices are in the ultramodern Embarcadero Center, watched pictures drop from the walls and then felt the skyscraper sway seven to eight feet, according to a spokeswoman.@@@@1@31@@oe@2-2-2013
21844051@unknown@formal@none@1@S@Plaster fell and windows were broken at Chiat/Day/Mojo, a spokesman for that agency said.@@@@1@14@@oe@2-2-2013
21844052@unknown@formal@none@1@S@Late yesterday afternoon, DDB Needham executives were scrambling to figure out what to do about a new business presentation that had been scheduled for today, a spokesman said.@@@@1@28@@oe@2-2-2013
21844053@unknown@formal@none@1@S@DDB Needham's office building may have sustained structural damage, the spokesman added.@@@@1@12@@oe@2-2-2013
21844054@unknown@formal@none@1@S@"All operations have stopped," he said.@@@@1@6@@oe@2-2-2013
21844055@unknown@formal@none@1@S@A number of agencies, including Thompson and Foote, Cone & Belding, said some employees who live outside of San Francisco, fearful that they wouldn't be able to get home, spent the night at the agency.@@@@1@35@@oe@2-2-2013
21844056@unknown@formal@none@1@S@Ad Notes. . . .@@@@1@5@@oe@2-2-2013
21844057@unknown@formal@none@1@S@NEW ACCOUNT:@@@@1@2@@oe@2-2-2013
21844058@unknown@formal@none@1@S@Chesebrough-Pond's Inc., Greenwich, Conn., awarded its Faberge hair care accounts to J. Walter Thompson, New York.@@@@1@16@@oe@2-2-2013
21844059@unknown@formal@none@1@S@Thompson, a unit of WPP Group, will handle Faberge Organic shampoo and conditioner and Aqua Net hairspray.@@@@1@17@@oe@2-2-2013
21844060@unknown@formal@none@1@S@The accounts, which billed about $7 million last year, according to Leading National Advertisers, were previously handled at Bozell, New York.@@@@1@21@@oe@2-2-2013
21844061@unknown@formal@none@1@S@WHO'S NEWS:@@@@1@2@@oe@2-2-2013
21844062@unknown@formal@none@1@S@William Morrissey, 44, was named executive vice president, world-wide director of McCann Direct, the direct marketing unit of Interpublic Group's McCann-Erickson agency.@@@@1@22@@oe@2-2-2013
21844063@unknown@formal@none@1@S@He had been president and chief operating officer of Ogilvy & Mather Direct.@@@@1@13@@oe@2-2-2013
21844064@unknown@formal@none@1@S@BOZELL:@@@@1@1@@oe@2-2-2013
21844065@unknown@formal@none@1@S@Los Angeles will be the site of a new entertainment division for the ad agency.@@@@1@15@@oe@2-2-2013
21844066@unknown@formal@none@1@S@The division will be headed by Dick Porter, who returns to Bozell after being vice president of media at MGM.@@@@1@20@@oe@2-2-2013
21844067@unknown@formal@none@1@S@AC&R ADVERTISING:@@@@1@2@@oe@2-2-2013
21844068@unknown@formal@none@1@S@The agency's three California offices, previously called AC&R/CCL Advertising, will now be called AC&R Advertising to match the name of its New York office.@@@@1@24@@oe@2-2-2013
21844069@unknown@formal@none@1@S@AC&R Advertising is a unit of Saatchi & Saatchi Co.@@@@1@10@@oe@2-2-2013
21844070@unknown@formal@none@1@S@NEW BEER:@@@@1@2@@oe@2-2-2013
21844071@unknown@formal@none@1@S@Sibra Products Inc., Greenwich, Conn., awarded its Cardinal Amber Light beer account to Heidelberg & Associates, New York.@@@@1@18@@oe@2-2-2013
21844072@unknown@formal@none@1@S@Budget is set at $1.5 million.@@@@1@6@@oe@2-2-2013
21844073@unknown@formal@none@1@S@The new beer, introduced this week at a liquor industry convention, is imported from Switzerland's Cardinal brewery.@@@@1@17@@oe@2-2-2013
21844074@unknown@formal@none@1@S@Heidelberg's first ads for the brand, which Sibra says will compete with imported light beer leader Amstel Light, feature the line "The best tasting light beer you've ever seen.@@@@1@29@@oe@2-2-2013
21845001@unknown@formal@none@1@S@Diamond-Star Motors Corp., a joint venture of Chrysler Corp. and Mitsubishi Motors Corp. said it will begin shipping Mitsubishi Eclipse cars to Japan next week, emulating other Japanese auto ventures shipping U.S.-built vehicles back to Japan.@@@@1@36@@oe@2-2-2013
21845002@unknown@formal@none@1@S@Diamond-Star said it will export about 1,500 Eclipse cars to Japan by year's end.@@@@1@14@@oe@2-2-2013
21845003@unknown@formal@none@1@S@Honda Motor Co., the first Japanese auto maker to ship cars to Japan from the U.S., is now exporting more than 5,000 Accord Coupes a year from its Marysville, Ohio, factory.@@@@1@31@@oe@2-2-2013
21846001@unknown@formal@none@1@S@One of the most remarkable features of the forced marches of the ethnic Turks out of Bulgaria over the past five months has been the lack of international attention.@@@@1@29@@oe@2-2-2013
21846002@unknown@formal@none@1@S@The deportation of more than 315,000 men, women and children by the Bulgarian regime adds up to one of the largest migrations seen in the postwar years.@@@@1@27@@oe@2-2-2013
21846003@unknown@formal@none@1@S@Yet some people are advancing a chilling casuistry: that what we are seeing is somehow the understandable result of the historical sins committed by the Turks in the 16th century.@@@@1@30@@oe@2-2-2013
21846004@unknown@formal@none@1@S@Today's Turks in Bulgaria, in other words, deserve what is coming to them four centuries later.@@@@1@16@@oe@2-2-2013
21846005@unknown@formal@none@1@S@As if this weren't enough, the Senate Judiciary Committee is getting into the act.@@@@1@14@@oe@2-2-2013
21846006@unknown@formal@none@1@S@On Tuesday it approved Senator Bob Dole's proposed commemorative resolution designating April 24, 1990, as the "National Day of Remembrance of the 75th Anniversary of the Armenian Genocide of 1915-1923," suffered at the hands of the warring Ottoman Empire.@@@@1@39@@oe@2-2-2013
21846007@unknown@formal@none@1@S@There can be no quibbling that the Armenians endured terrible suffering, but one has to wonder what possible good such a resolution will achieve.@@@@1@24@@oe@2-2-2013
21846008@unknown@formal@none@1@S@It puts great strain on a longstanding U.S. friendship with Turkey, a country that has been one of America's strongest allies in NATO.@@@@1@23@@oe@2-2-2013
21846009@unknown@formal@none@1@S@The resolution also comes at a time when Turkey has been seeking help from the United States in resolving its Bulgarian emigration controversy and pursuing democratic reforms that may lead to membership in the European Community.@@@@1@36@@oe@2-2-2013
21846010@unknown@formal@none@1@S@Turkey has been fighting its past for years, and thus far has been only partially successful.@@@@1@16@@oe@2-2-2013
21846011@unknown@formal@none@1@S@Must it now accept that one of its strongest allies blames it for the genocide of another people?@@@@1@18@@oe@2-2-2013
21846012@unknown@formal@none@1@S@Such sentiment only encourages the adverse feelings toward Turkey that surfaced when Turkey asked for assistance in dealing with its Bulgarian emigration crisis.@@@@1@23@@oe@2-2-2013
21846013@unknown@formal@none@1@S@Mr. Dole's odd effort notwithstanding, most of Turkey's political problems lie with the Europeans.@@@@1@14@@oe@2-2-2013
21846014@unknown@formal@none@1@S@Part of the problem some Europeans have with Turkey seems to stem from its location -- Turkey isn't really part of Europe.@@@@1@22@@oe@2-2-2013
21846015@unknown@formal@none@1@S@Why, they wonder, should it belong to the EC?@@@@1@9@@oe@2-2-2013
21846016@unknown@formal@none@1@S@Another anti-Turkish hook is the Islamic faith of the majority of the Turkish people: Turkey, we are told, is not a Christian nation; its people simply won't fit in with the Western European Judeo-Christian tradition.@@@@1@35@@oe@2-2-2013
21846017@unknown@formal@none@1@S@It's when these rationalizations fall on deaf ears that the old standby of retribution for treatment at the hands of the Ottoman Empire comes to the fore.@@@@1@27@@oe@2-2-2013
21846018@unknown@formal@none@1@S@No one has to accept the sins of the Ottoman Empire to reject that argument.@@@@1@15@@oe@2-2-2013
21846019@unknown@formal@none@1@S@Turkey in any event is long past it.@@@@1@8@@oe@2-2-2013
21846020@unknown@formal@none@1@S@The country has in recent years accepted more than 500,000 refugees from at least four bordering nations.@@@@1@17@@oe@2-2-2013
21846021@unknown@formal@none@1@S@Kurds, suffering what many people consider to be a current extermination campaign at the hands of Syria, Iran and Iraq have inundated eastern Turkey.@@@@1@24@@oe@2-2-2013
21846022@unknown@formal@none@1@S@Now it is their fellow Turks arriving as refugees from Bulgaria.@@@@1@11@@oe@2-2-2013
21846023@unknown@formal@none@1@S@The Turkish refugee tragedy and the ongoing crisis cannot be ignored and shuttled off to that notorious dustbin of history that has become so convenient recently.@@@@1@26@@oe@2-2-2013
21846024@unknown@formal@none@1@S@Surely, the past suffering of any people at any time cannot be simply filed away and forgotten.@@@@1@17@@oe@2-2-2013
21846025@unknown@formal@none@1@S@But what the Senate Judiciary Committee has done in supporting the strongly worded Armenian resolution achieves no useful end; it merely produces more controversy and embittered memories.@@@@1@27@@oe@2-2-2013
21846026@unknown@formal@none@1@S@Congress has enough difficulty dealing with the realities of the world as it currently exists.@@@@1@15@@oe@2-2-2013
21846027@unknown@formal@none@1@S@Bulgaria's government has been behaving beyond the pale for months, and the U.S. does its values no credit by ignoring that while casting its votes into the past.@@@@1@28@@oe@2-2-2013
21847001@unknown@formal@none@1@S@Many in Washington say President Bush will have to raise taxes to pay for his war on drugs.@@@@1@18@@oe@2-2-2013
21847002@unknown@formal@none@1@S@We have a better idea: Dismantle HUD to pay for the war on drugs.@@@@1@14@@oe@2-2-2013
21847003@unknown@formal@none@1@S@Housing and Urban Development's budget is $17 billion.@@@@1@8@@oe@2-2-2013
21847004@unknown@formal@none@1@S@From what we and the nation have been reading, the money isn't being spent very well.@@@@1@16@@oe@2-2-2013
21847005@unknown@formal@none@1@S@The single most important contribution the government could make now to help the poor is to get the specter of drugs out of their neighborhoods.@@@@1@25@@oe@2-2-2013
21847006@unknown@formal@none@1@S@If that takes money, take it away from this discredited federal department.@@@@1@12@@oe@2-2-2013
21847007@unknown@formal@none@1@S@But of course the Democrats pillorying HUD in hearings and in the press have no such solution in mind.@@@@1@19@@oe@2-2-2013
21847008@unknown@formal@none@1@S@Instead, they're scrambling to protect the very programs at the heart of the HUD scandal.@@@@1@15@@oe@2-2-2013
21847009@unknown@formal@none@1@S@This month, HUD Secretary Jack Kemp unveiled a series of proposed reforms to improve management at HUD.@@@@1@17@@oe@2-2-2013
21847010@unknown@formal@none@1@S@No doubt many of his ideas are worthy, but ultimately he is proposing to make fundamentally flawed programs work slightly more fairly and efficiently.@@@@1@24@@oe@2-2-2013
21847011@unknown@formal@none@1@S@Congress is unlikely to go even that far.@@@@1@8@@oe@2-2-2013
21847012@unknown@formal@none@1@S@Last week, Secretary Kemp ran into a buzzsaw of criticism from House Banking Committee members.@@@@1@15@@oe@2-2-2013
21847013@unknown@formal@none@1@S@They were appalled, for instance, that he wanted to target more of the $3 billion Community Development Block Grant (CDBG) program to low-income projects and zero out the notorious "discretionary" funds that have allowed HUD officials to steer contracts to political cronies.@@@@1@42@@oe@2-2-2013
21847014@unknown@formal@none@1@S@These development grants mainly enrich developers who want to put up shopping centers and parking garages.@@@@1@16@@oe@2-2-2013
21847015@unknown@formal@none@1@S@They also give those in Congress political credit for bringing home the pork, and so they are popular with such Members as Mary Rose Oakar.@@@@1@25@@oe@2-2-2013
21847016@unknown@formal@none@1@S@Rep. Oakar, a Democrat from Cleveland, wants a $6.9 million grant so Cleveland can build an 18-story Rock and Roll Hall of Fame.@@@@1@23@@oe@2-2-2013
21847017@unknown@formal@none@1@S@She says it'd create 600 jobs and bring Cleveland tourist revenue.@@@@1@11@@oe@2-2-2013
21847018@unknown@formal@none@1@S@HUD says the project doesn't qualify, and Mr. Kemp says that rock 'n' roll musicians and the music industry ought to put up the money.@@@@1@25@@oe@2-2-2013
21847019@unknown@formal@none@1@S@At the hearing, Rep. Oakar started wailing about "phoney baloney regulations" that would stand between her and "housing for downtown Cleveland."@@@@1@21@@oe@2-2-2013
21847020@unknown@formal@none@1@S@Rep. Chalmers Wylie, an Ohio Republican, rallied to the cause: "I think the gentlelady is making an important statement.@@@@1@19@@oe@2-2-2013
21847021@unknown@formal@none@1@S@The implication that if a congressman calls about a project in his district there's something wrong, I think is most unfortunate."@@@@1@21@@oe@2-2-2013
21847022@unknown@formal@none@1@S@We're sure some theologian can explain the difference between what the Republican consultants have been doing with HUD and what these gentleladies and gentlemen want to do with HUD.@@@@1@29@@oe@2-2-2013
21847023@unknown@formal@none@1@S@Our view is that given Congress's attitude toward HUD, the place probably is beyond reform.@@@@1@15@@oe@2-2-2013
21847024@unknown@formal@none@1@S@For more than 50 years the federal government has tried various ways to provide housing for the poor and revive cities.@@@@1@21@@oe@2-2-2013
21847025@unknown@formal@none@1@S@In the process HUD has wasted untold billions, created slums and invited corruption.@@@@1@13@@oe@2-2-2013
21847026@unknown@formal@none@1@S@Much of HUD's spending actually is disguised welfare for developers or the middle class.@@@@1@14@@oe@2-2-2013
21847027@unknown@formal@none@1@S@That includes the CDBG funds and the Federal Housing Administration, which loans out money for private home mortgages and has just been discovered to be $4 billion in the hole.@@@@1@30@@oe@2-2-2013
21847028@unknown@formal@none@1@S@Selling the FHA's loan portfolio to the highest bidder would save the taxpayers untold billions in future losses.@@@@1@18@@oe@2-2-2013
21847029@unknown@formal@none@1@S@Some HUD money actually does trickle down to the poor, and zeroing out housing middlemen would free up more money for public housing tenants to manage and even own their units.@@@@1@31@@oe@2-2-2013
21847030@unknown@formal@none@1@S@The rest ought to be used to clean out drugs from the neighbhorhoods.@@@@1@13@@oe@2-2-2013
21847031@unknown@formal@none@1@S@Rival gangs have turned cities into combat zones.@@@@1@8@@oe@2-2-2013
21847032@unknown@formal@none@1@S@Even suburban Prince George's County, Md., reported last week there have been a record 96 killings there this year, most of them drug-related.@@@@1@23@@oe@2-2-2013
21847033@unknown@formal@none@1@S@Innocent bystanders often are the victims.@@@@1@6@@oe@2-2-2013
21847034@unknown@formal@none@1@S@A man in a wheelchair was gunned down in the crossfire of a Miami drug battle.@@@@1@16@@oe@2-2-2013
21847035@unknown@formal@none@1@S@A three-year-old Brooklyn boy was used as a shield by a drug dealer.@@@@1@13@@oe@2-2-2013
21847036@unknown@formal@none@1@S@Decent life in the inner cities won't be restored unless the government reclaims the streets from the drug gangs.@@@@1@19@@oe@2-2-2013
21847037@unknown@formal@none@1@S@Until then, the billions HUD spends on inner-city housing simply is wasted.@@@@1@12@@oe@2-2-2013
21847038@unknown@formal@none@1@S@It's still unclear whether Secretary Kemp wants to completely overhaul the engine room at HUD or just tighten a few screws here and there.@@@@1@24@@oe@2-2-2013
21847039@unknown@formal@none@1@S@No doubt he believes the place can be salvaged.@@@@1@9@@oe@2-2-2013
21847040@unknown@formal@none@1@S@Having seen the hypocrisy with which Congress has addressed the HUD scandals, we disagree.@@@@1@14@@oe@2-2-2013
21847041@unknown@formal@none@1@S@It's time to scrap the politically infested spending machine HUD has become and channel the resources into the drug war.@@@@1@20@@oe@2-2-2013
21848001@unknown@formal@none@1@S@Randy Delchamps was named chairman and chief executive officer of this grocery chain.@@@@1@13@@oe@2-2-2013
21848002@unknown@formal@none@1@S@Mr. Delchamps, 46 years old, succeeds A.F. Delchamps Jr., who died in a plane crash on Sunday at the age of 58.@@@@1@22@@oe@2-2-2013
21848003@unknown@formal@none@1@S@Randy Delchamps retains his position as president.@@@@1@7@@oe@2-2-2013
21849001@unknown@formal@none@1@S@Natural upheavals, and most particularly earthquakes, are not only horrible realities in and of themselves, but also symbols through which the state of a society can be construed.@@@@1@28@@oe@2-2-2013
21849002@unknown@formal@none@1@S@The rubble after the Armenian earthquake a year ago disclosed, quite literally, a city whose larger structures had been built with sand.@@@@1@22@@oe@2-2-2013
21849003@unknown@formal@none@1@S@The extent of the disaster stemmed from years of chicanery and bureaucratic indifference.@@@@1@13@@oe@2-2-2013
21849004@unknown@formal@none@1@S@The larger parallel after the earthquake centered south of San Francisco is surely with the state of the U.S. economy.@@@@1@20@@oe@2-2-2013
21849005@unknown@formal@none@1@S@Did the stock-market tremors of Friday, Oct. 13, presage larger fragility, far greater upheavals?@@@@1@14@@oe@2-2-2013
21849006@unknown@formal@none@1@S@Are the engineering and architecture of the economy as vulnerable as the spans of the Bay Bridge?@@@@1@17@@oe@2-2-2013
21849007@unknown@formal@none@1@S@The eerie complacency of the Reagan-Bush era has produced Panglossian paeans about the present perfection of U.S. economic and social arrangements.@@@@1@21@@oe@2-2-2013
21849008@unknown@formal@none@1@S@A licensed government intellectual, Francis Fukuyama, recently announced in The National Interest that history is, so to speak, at an end since the course of human progress has now culminated in the glorious full stop of American civilization.@@@@1@38@@oe@2-2-2013
21849009@unknown@formal@none@1@S@His observations were taken seriously.@@@@1@5@@oe@2-2-2013
21849010@unknown@formal@none@1@S@But we are, in reality, witnessing the continuing decline of the political economy of capitalism: not so much the end of history but the history of the end.@@@@1@28@@oe@2-2-2013
21849011@unknown@formal@none@1@S@The financial equivalent of the sand used by those Armenian contractors is junk bonds and the leveraged buy-outs associated with them.@@@@1@21@@oe@2-2-2013
21849012@unknown@formal@none@1@S@Builders get away with using sand and financiers junk when society decides it's okay, necessary even, to look the other way.@@@@1@21@@oe@2-2-2013
21849013@unknown@formal@none@1@S@And by the early 1980s U.S. capitalists had ample reason to welcome junk bonds, to look the other way.@@@@1@19@@oe@2-2-2013
21849014@unknown@formal@none@1@S@By that time they found extremely low profit rates from non-financial corporate investment.@@@@1@13@@oe@2-2-2013
21849015@unknown@formal@none@1@S@Government statistics in fact show that the profit rate -- net pretax profits divided by capital stock -- peaked in 1965 at 17.2%.@@@@1@23@@oe@2-2-2013
21849016@unknown@formal@none@1@S@That same calculation saw profit rates fall to 4.6% in the recession year 1982 and the supposed miracle that followed has seen the profit rate rise only to 8.1% in 1986 and 8% in 1987.@@@@1@35@@oe@2-2-2013
21849017@unknown@formal@none@1@S@Corresponding to the fall in profit rates was -- in the early 1980s -- the drop in the number arrived at if you divide the market value of firms by the replacement costs of their assets, the famous Q ratio associated with Prof. James Tobin.@@@@1@45@@oe@2-2-2013
21849018@unknown@formal@none@1@S@In theory, the value attached to a firm by the market and the cost of replacing its assets should be the same.@@@@1@22@@oe@2-2-2013
21849019@unknown@formal@none@1@S@But of course the market could decide that the firm's capital stock -- its assets -- means nothing if the firm is not producing profits.@@@@1@25@@oe@2-2-2013
21849020@unknown@formal@none@1@S@This is indeed what the market decided.@@@@1@7@@oe@2-2-2013
21849021@unknown@formal@none@1@S@By 1982 the ratio was 43.5%, meaning that the market was valuing every dollar's worth of the average firm's assets at 43 cents.@@@@1@23@@oe@2-2-2013
21849022@unknown@formal@none@1@S@From the history of capitalism we can take it as a sound bet that if it takes only 43 cents to buy a dollar's worth of a firm's capital stock, an alert entrepreneur won't look the other way.@@@@1@38@@oe@2-2-2013
21849023@unknown@formal@none@1@S@His assumption is that the underlying profitability rate will go up and the capital assets he bought on the cheap will soon be producing profits, thus restoring the market's faith in them.@@@@1@32@@oe@2-2-2013
21849024@unknown@formal@none@1@S@Hence the LBO craze.@@@@1@4@@oe@2-2-2013
21849025@unknown@formal@none@1@S@But here is where the entrepreneur made a very risky bet, and where society was maybe foolish to look the other way.@@@@1@22@@oe@2-2-2013
21849026@unknown@formal@none@1@S@The profit rate is still low and the Q ratio was only 65% in 1987 and 68.9% in 1988.@@@@1@19@@oe@2-2-2013
21849027@unknown@formal@none@1@S@Result: a landscape littered with lemons, huge debt burdens crushing down upon the arch and spans of corporate America.@@@@1@19@@oe@2-2-2013
21849028@unknown@formal@none@1@S@The mounting risks did not go unobserved, even in the mid-1980s.@@@@1@11@@oe@2-2-2013
21849029@unknown@formal@none@1@S@But there were enough promoters announcing the end of history (in this case suspension of normal laws of economic gravity) for society to continue shielding its eyes.@@@@1@27@@oe@2-2-2013
21849030@unknown@formal@none@1@S@Mainstream economists and commentators, craning their necks up at the great pyramids of junk financing, swiveling their heads to watch the avalanche of leveraged buy-outs, claimed the end result would be a leaner, meaner corporate America, with soaring productivity and profits and the weaker gone to the wall.@@@@1@48@@oe@2-2-2013
21849031@unknown@formal@none@1@S@But this is not where the rewards of junk financing were found.@@@@1@12@@oe@2-2-2013
21849032@unknown@formal@none@1@S@The beneficiaries were those financiers whose icon was the topic figure of '80s capitalism, Michael Milken's $517 million salary in one year.@@@@1@22@@oe@2-2-2013
21849033@unknown@formal@none@1@S@Left-stream economists I associate with -- fellows in the Union of Radical Political Economists, most particularly Robert Pollin of the economics faculty at the University of California at Riverside -- were not hypnotized in the manner of their pliant colleagues.@@@@1@40@@oe@2-2-2013
21849034@unknown@formal@none@1@S@All along they have been noting the tremors and pointing out the underlying realities.@@@@1@14@@oe@2-2-2013
21849035@unknown@formal@none@1@S@Profit rates after the great merger wave are no higher, and now we have an extremely high-interest burden relative to cash flow.@@@@1@22@@oe@2-2-2013
21849036@unknown@formal@none@1@S@The consequences of building empires with sand are showing up.@@@@1@10@@oe@2-2-2013
21849037@unknown@formal@none@1@S@In contrast to previous estimates reckoning the default rate on junk bonds at 2% or 3%, a Harvard study published in April of this year (and discussed in a lead story in The Wall Street Journal for Sept. 18) found the default rate on these junk bonds is 34%.@@@@1@49@@oe@2-2-2013
21849038@unknown@formal@none@1@S@What is the consequence of a high-interest burden, high default rates and continued low profitability?@@@@1@15@@oe@2-2-2013
21849039@unknown@formal@none@1@S@Corporations need liquidity, in the form of borrowed funds.@@@@1@9@@oe@2-2-2013
21849040@unknown@formal@none@1@S@Without liquidity from the junk-bond market or cash flow from profits, they look to the government, which obediently assists the natural motions of the capitalist economy with charity in the form of cuts in the capital-gains tax rate or bailouts.@@@@1@40@@oe@2-2-2013
21849041@unknown@formal@none@1@S@The consequence can be inflation, brought on as the effect of a desperate bid to avoid the deflationary shock of a sudden crash.@@@@1@23@@oe@2-2-2013
21849042@unknown@formal@none@1@S@Attacks on inflation come with another strategy of capital of a very traditional sort: an assault on wages.@@@@1@18@@oe@2-2-2013
21849043@unknown@formal@none@1@S@Mr. Fukuyama, peering through binoculars at the end of history, said in his essay that "the class issue has actually been successfully resolved in the West . . .@@@@1@29@@oe@2-2-2013
21849044@unknown@formal@none@1@S@the egalitarianism of modern America represents the essential achievement of the classless society envisioned by Marx."@@@@1@16@@oe@2-2-2013
21849045@unknown@formal@none@1@S@Mr. Fukuyama might want to consult some American workers on the subject of class and egalitarianism.@@@@1@16@@oe@2-2-2013
21849046@unknown@formal@none@1@S@From its peak in 1972 of $198.41, the average American weekly wage had fallen to $169.28 in 1987 -- both figures being expressed in 1977 dollars.@@@@1@26@@oe@2-2-2013
21849047@unknown@formal@none@1@S@In other words, after the glory boom of the Reagan years, wages had sunk from the post World War II peak by 16% as capitalists, helped by the government, turned down the screws or went offshore.@@@@1@36@@oe@2-2-2013
21849048@unknown@formal@none@1@S@But there are signs now -- the strikes by miners, Boeing workers, telephone workers, etc. -- that this attack on wages is being more fiercely resisted.@@@@1@26@@oe@2-2-2013
21849049@unknown@formal@none@1@S@These are long-term Richter readings on American capitalism.@@@@1@8@@oe@2-2-2013
21849050@unknown@formal@none@1@S@The whole structure is extremely shaky.@@@@1@6@@oe@2-2-2013
21849051@unknown@formal@none@1@S@Governments have become sophisticated in handling moments of panic (a word the London Times forbade my father to use when he was reporting the Wall Street crash in 1929).@@@@1@29@@oe@2-2-2013
21849052@unknown@formal@none@1@S@But sophistication has its limits.@@@@1@5@@oe@2-2-2013
21849053@unknown@formal@none@1@S@The S&L bailout could cost $300 billion, computing interest on the government's loans.@@@@1@13@@oe@2-2-2013
21849054@unknown@formal@none@1@S@These are real costs.@@@@1@4@@oe@2-2-2013
21849055@unknown@formal@none@1@S@Under what weights will the Federal Deposit Insurance Corporation totter?@@@@1@10@@oe@2-2-2013
21849056@unknown@formal@none@1@S@Capitalism may now be engineered to withstand sudden shocks, but there are fault lines -- the crisis in profits, the assault on wages, the structural inequity of the system -- that make fools of those who claim that the future is here and that history is over.@@@@1@47@@oe@2-2-2013
21849057@unknown@formal@none@1@S@Mr. Cockburn is a columnist for The Nation and LA Weekly.@@@@1@11@@oe@2-2-2013
21850001@unknown@formal@none@1@S@Japan Air Lines, Lufthansa German Airlines and Air France reportedly plan to form an international air-freight company this year, a move that could further consolidate the industry.@@@@1@27@@oe@2-2-2013
21850002@unknown@formal@none@1@S@Japanese newspaper Nihon Keizai Shimbun reported that the three giants plan to integrate their cargo computers and ground-cargo and air-cargo systems.@@@@1@21@@oe@2-2-2013
21850003@unknown@formal@none@1@S@They reportedly will invest a total of 20 billion yen ($140 million) in the venture, whose headquarters would be in France or West Germany.@@@@1@24@@oe@2-2-2013
21850004@unknown@formal@none@1@S@The action follows Federal Express Corp.'s acquisition of Flying Tiger Line Inc. in August.@@@@1@14@@oe@2-2-2013
21850005@unknown@formal@none@1@S@After that, "it would make sense for airlines to talk about doing things jointly," said Cotton Daly, director of cargo services for New York consulting firm Simat, Helliesen & Eichner Inc.@@@@1@31@@oe@2-2-2013
21850006@unknown@formal@none@1@S@Mr. Daly said such discussions are motivated by the competitive threat posed by Federal Express, United Parcel Service of America Inc. and other fast-growing air-freight companies.@@@@1@26@@oe@2-2-2013
21850007@unknown@formal@none@1@S@Many airlines are talking about cargo ventures, and there have been rumors about such a tie between JAL and European airlines.@@@@1@21@@oe@2-2-2013
21850008@unknown@formal@none@1@S@In Tokyo, a JAL spokesman said he couldn't confirm or deny the latest Japanese report.@@@@1@15@@oe@2-2-2013
21850009@unknown@formal@none@1@S@But he said JAL is talking to Lufthansa and Air France about some sort of cargo venture.@@@@1@17@@oe@2-2-2013
21850010@unknown@formal@none@1@S@"It is just one of a number of strategies JAL has embarked upon to come to terms with the situation in Europe after 1992," the deadline for ending trade barriers in the EC, he said.@@@@1@35@@oe@2-2-2013
21850011@unknown@formal@none@1@S@In Frankfurt, a Lufthansa spokesman confirmed talks are under way, but declined to comment.@@@@1@14@@oe@2-2-2013
21850012@unknown@formal@none@1@S@A Lufthansa spokeswoman in Tokyo said the head of Lufthansa's cargo operations had been in Toyko last week for talks with JAL.@@@@1@22@@oe@2-2-2013
21850013@unknown@formal@none@1@S@In Paris, Air France declined to comment.@@@@1@7@@oe@2-2-2013
21850014@unknown@formal@none@1@S@"Nothing is defined or signed at this point," Mr. Daly said of the talks.@@@@1@14@@oe@2-2-2013
21850015@unknown@formal@none@1@S@Whatever accord the three carriers reach, he said, he is skeptical it would create a separate airline.@@@@1@17@@oe@2-2-2013
21850016@unknown@formal@none@1@S@If the three companies pool their air-freight businesses, their clout would be considerable.@@@@1@13@@oe@2-2-2013
21850017@unknown@formal@none@1@S@According to figures from the International Air Transport Association, they carried a combined 1.8 million tons of freight last year.@@@@1@20@@oe@2-2-2013
21850018@unknown@formal@none@1@S@Federal Express and Flying Tiger, as separate companies, carried a combined 2.6 million tons.@@@@1@14@@oe@2-2-2013
21850019@unknown@formal@none@1@S@Air France and Lufthansa last month concluded a far-reaching cooperation accord that includes air-freight activities.@@@@1@15@@oe@2-2-2013
21850020@unknown@formal@none@1@S@They plan to increase cooperation in freight ground-handling and create a world-wide computer system to process cargo.@@@@1@17@@oe@2-2-2013
21850021@unknown@formal@none@1@S@Other airlines would have access to the system, they said, and negotiations with partners were already under way.@@@@1@18@@oe@2-2-2013
21850022@unknown@formal@none@1@S@Both European airlines operate extensive fleets of Boeing 747 freighters and 747 Combis, aircraft that carry both freight and passengers on the main deck.@@@@1@24@@oe@2-2-2013
21850023@unknown@formal@none@1@S@They currently have large orders for cargo planes.@@@@1@8@@oe@2-2-2013
21850024@unknown@formal@none@1@S@Several airlines, including Lufthansa, JAL and Cathay Pacific Airways, are working on a so-called global cargo system and are trying to attract other carriers to join, Mr. Daly said.@@@@1@29@@oe@2-2-2013
21850025@unknown@formal@none@1@S@JAL also has signaled it is looking for toeholds in Europe before the end of 1992.@@@@1@16@@oe@2-2-2013
21850026@unknown@formal@none@1@S@Last month, the carrier said it wanted to lease crews and planes from British Airways so it could funnel its passengers from London to other European destinations.@@@@1@27@@oe@2-2-2013
21850027@unknown@formal@none@1@S@British Airways said it hasn't received a proposal from JAL.@@@@1@10@@oe@2-2-2013
21850028@unknown@formal@none@1@S@But last week there were air-traffic negotiations between the U.K. and Japan, a likely first step to any commercial agreement between JAL and British Airways or another U.K. carrier.@@@@1@29@@oe@2-2-2013
21851001@unknown@formal@none@1@S@Federal Paper Board Co. said it completed the previously announced purchase of Imperial Cup Corp., a closely held maker of paper cups based in Kenton, Ohio.@@@@1@26@@oe@2-2-2013
21851002@unknown@formal@none@1@S@Terms weren't disclosed.@@@@1@3@@oe@2-2-2013
21851003@unknown@formal@none@1@S@Imperial Cup has annual sales of approximately $75 million.@@@@1@9@@oe@2-2-2013
21851004@unknown@formal@none@1@S@Federal Paper Board sells paper and wood products.@@@@1@8@@oe@2-2-2013
21852001@unknown@formal@none@1@S@In a move to prevent any dislocation in the financial markets from the California earthquake, the Securities and Exchange Commission said it temporarily reassigned options listed on the Pacific Stock Exchange to the American, New York and Philadelphia stock exchanges and to the Chicago Board Options Exchange.@@@@1@47@@oe@2-2-2013
21852002@unknown@formal@none@1@S@The decision, which affects millions of dollars of trading positions, was made late yesterday because the Pacific exchange's options floor was shut down as a result of Tuesday's earthquake.@@@@1@29@@oe@2-2-2013
21852003@unknown@formal@none@1@S@The SEC, faced with a major squeeze on options positions, said it was necessary to ensure that options listed on the exchange could be traded today and tomorrow.@@@@1@28@@oe@2-2-2013
21852004@unknown@formal@none@1@S@SEC Chairman Richard Breeden said the cooperation by the exchanges would enable investors to buy and sell options listed solely on the Pacific exchange, guaranteeing the liquidity of the market.@@@@1@30@@oe@2-2-2013
21852005@unknown@formal@none@1@S@Officials at the four exchanges said well over 50 traders from the Pacific exchange were taking flights from San Francisco late yesterday to the American, New York and Philadelphia exchanges and to the CBOE, where they would continue making markets in the Pacific-listed options.@@@@1@44@@oe@2-2-2013
21852006@unknown@formal@none@1@S@The Big Board said carpenters quickly erected a new options floor to accomodate 40 traders from the Pacific exchange.@@@@1@19@@oe@2-2-2013
21852007@unknown@formal@none@1@S@In addition, specialists on the exchanges agreed to provide backup capital for market-making in Pacific exchange options traded on the exchanges.@@@@1@21@@oe@2-2-2013
21852008@unknown@formal@none@1@S@Trading was light on the Pacific Stock Exchange yesterday, with workers at the exchange's main floor in San Francisco struggling to execute orders by flashlight as a result of a continuing power outage.@@@@1@33@@oe@2-2-2013
21852009@unknown@formal@none@1@S@The most pressing problem was the suspension of options trading.@@@@1@10@@oe@2-2-2013
21852010@unknown@formal@none@1@S@The Pacific exchange has options for 129 underlying stock issues, including highly active Hilton Hotels Corp., which is listed on the Big Board.@@@@1@23@@oe@2-2-2013
21852011@unknown@formal@none@1@S@Investors were concerned that they might be unable to exercise options that expire tomorrow.@@@@1@14@@oe@2-2-2013
21852012@unknown@formal@none@1@S@But professionals said throughout the day that the shutdown wouldn't be a cause for alarm even if it were to persist for several days.@@@@1@24@@oe@2-2-2013
21852013@unknown@formal@none@1@S@"I've told my staff and clients that they still have the ability to exercise their options, because they are guaranteed by the Options Clearing Corp.," said Michael Schwartz, a senior registered options strategist at Oppenheimer & Co.@@@@1@37@@oe@2-2-2013
21852014@unknown@formal@none@1@S@The SEC reassigned trading in the options, however, to allow investors to do more than simply exercise the options.@@@@1@19@@oe@2-2-2013
21852015@unknown@formal@none@1@S@While the exchange's equities floor in San Francisco remained open on a limited basis, orders were being routed and executed in Los Angeles.@@@@1@23@@oe@2-2-2013
21852016@unknown@formal@none@1@S@Workers could dial out, but they couldn't receive telephone calls.@@@@1@10@@oe@2-2-2013
21852017@unknown@formal@none@1@S@"It's a very uncertain situation right now," said Navin Vyas, administrative assistant of trading floor operations of the exchange, which has daily volume of about 10 million shares.@@@@1@28@@oe@2-2-2013
21852018@unknown@formal@none@1@S@Because the exchange's computer was rerouting orders to the exchange's trading operations in Los Angeles, "business is as usual" Mr. Vyas said.@@@@1@22@@oe@2-2-2013
21852019@unknown@formal@none@1@S@"If one city is down, the other can take over."@@@@1@10@@oe@2-2-2013
21852020@unknown@formal@none@1@S@Meanwhile, the brokerage firms in San Francisco were trying to cope.@@@@1@11@@oe@2-2-2013
21852021@unknown@formal@none@1@S@Charles Daggs, chairman and chief executive officer of Sutro & Co., said traders came to work at 5 a.m. PDT -- many on foot because of uncertain road and traffic conditions -- but learned that they would have to await a required inspection by the city in order to turn the power back on at the company's two main facilities there.@@@@1@61@@oe@2-2-2013
21852022@unknown@formal@none@1@S@That should happen by today, he said.@@@@1@7@@oe@2-2-2013
21852023@unknown@formal@none@1@S@Traders worked with the help of sunlight streaming through windows, despite large cracks in the walls and a lack of incoming phone calls.@@@@1@23@@oe@2-2-2013
21852024@unknown@formal@none@1@S@Also, most of the telecommunications equipment was out.@@@@1@8@@oe@2-2-2013
21852025@unknown@formal@none@1@S@The traders were executing municipal bond, mutual fund and other orders through a sister firm, Tucker Anthony Inc., which is also owned by John Hancock Freedom Securities but is based in New York.@@@@1@33@@oe@2-2-2013
21852026@unknown@formal@none@1@S@"We are having a regular day.@@@@1@6@@oe@2-2-2013
21852027@unknown@formal@none@1@S@Volume is down out of San Francisco, but not out of the 11 outlying offices," Mr. Daggs added.@@@@1@18@@oe@2-2-2013
21852028@unknown@formal@none@1@S@Sutro's Oakland office executed orders through the Sacramento office, which wasn't affected by the quake.@@@@1@15@@oe@2-2-2013
21852029@unknown@formal@none@1@S@Others, like Prudential-Bache Securities Inc., which has eight offices in the San Francisco area, set up an 800 number yesterday morning for customers to obtain market commentary and other help.@@@@1@30@@oe@2-2-2013
21852030@unknown@formal@none@1@S@At Kidder, Peabody & Co.'s Sacramento branch, Manager Janet White received calls yesterday morning from workers in San Francisco who offered to work in Sacramento.@@@@1@25@@oe@2-2-2013
21852031@unknown@formal@none@1@S@Then she discovered that Quotron Systems Inc.'s Sacramento lines were down, because they are normally tied in through a system that goes through San Francisco.@@@@1@25@@oe@2-2-2013
21852032@unknown@formal@none@1@S@So the Kidder brokers had to call other company offices to get quotes on stocks.@@@@1@15@@oe@2-2-2013
21852033@unknown@formal@none@1@S@At Quotron, the company's National Call-In Center, which swung into action for the first time last month for Hurricane Hugo, assembled a tactical team at 5 a.m. yesterday to begin rerouting lines and restore service to brokers and traders.@@@@1@39@@oe@2-2-2013
21852034@unknown@formal@none@1@S@The company dispatched as many as 200 people in the San Francisco area to do the work, though most of the rerouting was done by computer.@@@@1@26@@oe@2-2-2013
21852035@unknown@formal@none@1@S@Service appeared to be down throughout the financial district in downtown San Francisco, while just parts of Oakland and San Jose were knocked out.@@@@1@24@@oe@2-2-2013
21852036@unknown@formal@none@1@S@But Dale Irvine, director of the emergency center, said service was being restored to outlying San Francisco areas.@@@@1@18@@oe@2-2-2013
21852037@unknown@formal@none@1@S@In Chicago yesterday, Options Clearing confirmed that it guarantees the Pacific exchange options.@@@@1@13@@oe@2-2-2013
21852038@unknown@formal@none@1@S@The firm also will permit its members and the public "to exercise their put and call options contracts traded on the Pacific exchange" even if the exchange is closed, said Wayne Luthringshausen, chairman of Options Clearing.@@@@1@36@@oe@2-2-2013
21852039@unknown@formal@none@1@S@(Put options give holders the right, but not the obligation, to sell a financial instrument at a specified price, while call options give holders the right, but not the obligation, to buy a financial instrument at a specified price).@@@@1@39@@oe@2-2-2013
21852040@unknown@formal@none@1@S@Investors and traders in Pacific exchange options "are protected to the extent that they can convert their put and call options into the underlying instrument," Mr. Luthringshausen said.@@@@1@28@@oe@2-2-2013
21852041@unknown@formal@none@1@S@"We are seeing such exercises today, in fact.@@@@1@8@@oe@2-2-2013
21853001@unknown@formal@none@1@S@International Business Machines Corp. said its board approved the purchase of $1 billion of its common shares, a move that should help support its battered stock.@@@@1@26@@oe@2-2-2013
21853002@unknown@formal@none@1@S@Even as the stock market has generally done well this year, IBM's shares have slipped steadily from its 52-week high of $130.875.@@@@1@22@@oe@2-2-2013
21853003@unknown@formal@none@1@S@Yesterday's closing price of $101.75, down 50 cents, in composite trading on the New York Stock Exchange, puts the stock at about 1 1/2 times book value, which is as low as it has sunk over the past decade.@@@@1@39@@oe@2-2-2013
21853004@unknown@formal@none@1@S@The announcement came after the market's close.@@@@1@7@@oe@2-2-2013
21853005@unknown@formal@none@1@S@The move by IBM wasn't exactly a surprise.@@@@1@8@@oe@2-2-2013
21853006@unknown@formal@none@1@S@The company has spent some $5 billion over the past 3 1/2 years to buy back 42 million common shares, or roughly 7% of those outstanding.@@@@1@26@@oe@2-2-2013
21853007@unknown@formal@none@1@S@In addition, despite IBM's well-publicized recent problems, the computer giant still generates enormous amounts of cash.@@@@1@16@@oe@2-2-2013
21853008@unknown@formal@none@1@S@As of the end of the second quarter, it had $4.47 billion of cash and marketable securities on hand.@@@@1@19@@oe@2-2-2013
21853009@unknown@formal@none@1@S@As a result, some securities analysts had predicted in recent days that IBM would authorize additional purchases.@@@@1@17@@oe@2-2-2013
21853010@unknown@formal@none@1@S@In Armonk, N.Y., a spokesman said that although IBM didn't view its spending as necessarily a way to support the stock, it thought the purchases were a good way to improve such financial measurements as per-share earnings and return on equity.@@@@1@41@@oe@2-2-2013
21853011@unknown@formal@none@1@S@"We view it as a good long-term investment," the spokesman said.@@@@1@11@@oe@2-2-2013
21853012@unknown@formal@none@1@S@In the short term, the move is likely to have little effect.@@@@1@12@@oe@2-2-2013
21853013@unknown@formal@none@1@S@At yesterday's closing price, $1 billion would buy back about 10 million shares, or less than 2% of the roughly 580 million outstanding.@@@@1@23@@oe@2-2-2013
21853014@unknown@formal@none@1@S@In addition, as of Sept. 30, the company still had authorization to buy $368 million of stock under a prior repurchase program.@@@@1@22@@oe@2-2-2013
21853015@unknown@formal@none@1@S@Over the long term, however, IBM's stock repurchases -- along with its hefty, $4.84-a-share annual dividend and generally loyal following among large institutional investors -- are providing a floor for the stock price.@@@@1@33@@oe@2-2-2013
21853016@unknown@formal@none@1@S@Although IBM last year produced its first strong results in four years and was expected to continue to roll this year, it began faltering as early as January.@@@@1@28@@oe@2-2-2013
21853017@unknown@formal@none@1@S@First, it had trouble manufacturing a chip for its mainframes, IBM's bread-and-butter business.@@@@1@13@@oe@2-2-2013
21853018@unknown@formal@none@1@S@Then it had a series of smaller glitches, including problems manufacturing certain personal computers and the delay in the announcement of some important workstations.@@@@1@24@@oe@2-2-2013
21853019@unknown@formal@none@1@S@Finally, IBM had to delay the introduction of some high-end disk drives, which account for 10% of its $60 billion of annual revenue.@@@@1@23@@oe@2-2-2013
21853020@unknown@formal@none@1@S@None of the problems is necessarily fatal, and they aren't all necessarily even related.@@@@1@14@@oe@2-2-2013
21853021@unknown@formal@none@1@S@There are also other factors at work that are outside IBM's control, such as currency exchange rates.@@@@1@17@@oe@2-2-2013
21853022@unknown@formal@none@1@S@The strong dollar, which reduces the value of overseas earnings and revenue when they are translated into dollars, is expected to knock 80 to 85 cents off IBM's per-share earnings for the full year.@@@@1@34@@oe@2-2-2013
21853023@unknown@formal@none@1@S@Without that problem, IBM might have matched last year's earnings of $5.81 billion, or $9.80 a share.@@@@1@17@@oe@2-2-2013
21853024@unknown@formal@none@1@S@Still, investors will take some convincing before they get back into IBM's stock in a big way.@@@@1@17@@oe@2-2-2013
21853025@unknown@formal@none@1@S@Steve Milunovich, a securities analyst at First Boston, said that while investors were looking for an excuse to buy IBM shares a year ago, even the big institutional investors are looking for a reason to avoid the stock these days.@@@@1@40@@oe@2-2-2013
21854001@unknown@formal@none@1@S@On Wall Street yesterday, northern California's killer earthquake was just another chance to make a buck.@@@@1@16@@oe@2-2-2013
21854002@unknown@formal@none@1@S@At the opening bell, investors quickly began singling out shares of companies expected to profit or suffer in some way from the California disaster, including insurers, construction-related companies, refiners and housing lenders.@@@@1@32@@oe@2-2-2013
21854003@unknown@formal@none@1@S@Brokerage houses jumped in, touting "post-quake demand" stocks, and Kidder, Peabody & Co. set up a toll-free hot line for San Franciscans who might need emergency investment advice and help in transferring funds.@@@@1@33@@oe@2-2-2013
21854004@unknown@formal@none@1@S@"Wall Street thinks of everything in terms of money," says Tom Gallagher, a senior Oppenheimer & Co. trader.@@@@1@18@@oe@2-2-2013
21854005@unknown@formal@none@1@S@However, he added, such event-driven trading moves typically last only a few hours and are often made without full information.@@@@1@20@@oe@2-2-2013
21854006@unknown@formal@none@1@S@The most popular plays of the day were insurance companies such as General Re Corp., which rose $2.75 to $86.50, Nac Re Corp., up $2 to $37.75, American International Group Inc., up $3.25 to $102.625, and Cigna Corp., up 87.5 cents to $62.50.@@@@1@43@@oe@2-2-2013
21854007@unknown@formal@none@1@S@Yesterday, the brokerage firm Conning & Co. said insurers will use the earthquake as an excuse to raise insurance rates, ending their long price wars.@@@@1@25@@oe@2-2-2013
21854008@unknown@formal@none@1@S@Before this bullish theory surfaced, some insurance stocks initially fell, indicating that investors thought the quake might cost insurers a lot of money.@@@@1@23@@oe@2-2-2013
21854009@unknown@formal@none@1@S@In fact, Fireman's Fund Corp., which ended the day off 50 cents to $36.50, said earthquake damage would slightly hurt fourth-quarter profit.@@@@1@22@@oe@2-2-2013
21854010@unknown@formal@none@1@S@On the prospect for rebuilding northern California, investors bid up cement-makers Calmat Co., up $2.75 to $28.75, and Lone Star Industries Inc., up $1.75 to $29.25.@@@@1@26@@oe@2-2-2013
21854011@unknown@formal@none@1@S@Bridge and road builders had a field day, including Kasler Corp., up $2.125 to $9.875, Guy F. Atkinson Co., up 87.5 to $61.875, and Morrison Knudsen Corp., which reported higher third-quarter earnings yesterday, up $2.25 to $44.125.@@@@1@37@@oe@2-2-2013
21854012@unknown@formal@none@1@S@Fluor Corp., a construction engineering firm, gained 75 cents to $33.375.@@@@1@11@@oe@2-2-2013
21854013@unknown@formal@none@1@S@But home-building stocks were a mixed bag.@@@@1@7@@oe@2-2-2013
21854014@unknown@formal@none@1@S@Timber stocks got a big boost.@@@@1@6@@oe@2-2-2013
21854015@unknown@formal@none@1@S@Georgia Pacific Corp., up $1.25 to $58, and Maxxam Inc., up $3 to $43.75, both reported strong profits.@@@@1@18@@oe@2-2-2013
21854016@unknown@formal@none@1@S@Merrill Lynch & Co. touted Georgia-Pacific, Louisiana Pacific Corp. and Willamette Industries Inc. as the best post-quake plywood plays.@@@@1@19@@oe@2-2-2013
21854017@unknown@formal@none@1@S@Other gainers were companies with one or more undamaged California refineries.@@@@1@11@@oe@2-2-2013
21854018@unknown@formal@none@1@S@Tosco Corp. jumped $1.125 to $20.125 and Chevron Corp., despite a temporary pipeline shutdown, rose $1 to $65.@@@@1@18@@oe@2-2-2013
21854019@unknown@formal@none@1@S@Meanwhile, shares of some big housing lenders got hit, on the likelihood that the lenders' collateral -- people's homes -- suffered physical damage and perhaps a loss in value.@@@@1@29@@oe@2-2-2013
21854020@unknown@formal@none@1@S@Wells Fargo & Co. fell 50 cents to $81.50, and BankAmerica Corp. fell 50 cents to $31.875.@@@@1@17@@oe@2-2-2013
21854021@unknown@formal@none@1@S@Some California thrift stocks also fell, including Golden West Financial Corp. and H.F. Ahmanson & Co., which reported lower earnings yesterday.@@@@1@21@@oe@2-2-2013
21854022@unknown@formal@none@1@S@"Property values didn't go up in California yesterday," says one money manager.@@@@1@12@@oe@2-2-2013
21854023@unknown@formal@none@1@S@Pacific Gas & Electric Co. fell 37.5 cents to $19.625.@@@@1@10@@oe@2-2-2013
21854024@unknown@formal@none@1@S@One of its power generators was damaged, though the company said there won't be any financial impact.@@@@1@17@@oe@2-2-2013
21854025@unknown@formal@none@1@S@Pacific Telesis Group lost 62.5 cents to $44.625.@@@@1@8@@oe@2-2-2013
21854026@unknown@formal@none@1@S@A computer failure delayed its earnings announcement, and some investors think it might have extra costs to repair damaged telephone lines.@@@@1@21@@oe@2-2-2013
21854027@unknown@formal@none@1@S@Heavy construction, property-casualty insurance and forest products were among the best performing industry groups in the Dow Jones Equity Market Index yesterday.@@@@1@22@@oe@2-2-2013
21855001@unknown@formal@none@1@S@Friday's stock market plunge claimed its second victim among the scores of futures and options trading firms here.@@@@1@18@@oe@2-2-2013
21855002@unknown@formal@none@1@S@Petco Options, an options trading firm owned by the family of the deceased former Chicago Board of Trade chairman Ralph Peters, is getting out of the trade clearing, or processing and guaranteeing, business after sustaining a multimillion dollar loss Friday, options industry officials said.@@@@1@44@@oe@2-2-2013
21855003@unknown@formal@none@1@S@Nearly 75 options traders on the Chicago Board Options Exchange who cleared trades through Petco, including a handful of traders who lost between $500,000 to $1 million themselves as a result of Friday's debacle, are trying to transfer their business to other clearing firms, CBOE members said.@@@@1@47@@oe@2-2-2013
21855004@unknown@formal@none@1@S@Timothy Vincent, Petco chief executive officer, confirmed that Petco was withdrawing from the clearing business.@@@@1@15@@oe@2-2-2013
21855005@unknown@formal@none@1@S@"The owners of the company got a look at the potential risks in this business, and after Monday they felt they didn't want to be exposed any more," he said.@@@@1@30@@oe@2-2-2013
21855006@unknown@formal@none@1@S@He added that Petco remained in compliance with all industry capital requirements during the market's rapid plunge Friday and Monday's rebound.@@@@1@21@@oe@2-2-2013
21855007@unknown@formal@none@1@S@A CBOE spokeswoman declined comment on Petco.@@@@1@7@@oe@2-2-2013
21855008@unknown@formal@none@1@S@Over the weekend Fossett Corp., another options trading firm, transferred the clearing accounts of about 160 traders to First Options of Chicago, a unit of Continental Bank Corp., because it couldn't meet regulatory capital requirements after Friday's market slide.@@@@1@39@@oe@2-2-2013
21855009@unknown@formal@none@1@S@The unprecedented transfer of accounts underscored the options industry's desire not to have its credibility tarnished by potentially widespread trading defaults on Monday.@@@@1@23@@oe@2-2-2013
21855010@unknown@formal@none@1@S@The CBOE, American Stock Exchange, Options Clearing Corp. and Stephen Fossett, owner of Fossett, joined in putting up $50 million to guarantee the accounts at First Options.@@@@1@27@@oe@2-2-2013
21855011@unknown@formal@none@1@S@The head of another small options clearing firm, who asked not to be identified, said that the heightened volatility in the financial markets in recent years makes it increasingly difficult for any but the largest financial trading firms to shoulder the risk inherent in the highly leveraged options and futures business.@@@@1@51@@oe@2-2-2013
21855012@unknown@formal@none@1@S@Prior to the introduction of financial futures in the late 1970s, most trading firms clustered around the LaSalle Street financial district here were family operations handed down from one generation to the next.@@@@1@33@@oe@2-2-2013
21855013@unknown@formal@none@1@S@Most also were relatively undercapitalized compared with the size of most Wall Street securities firms.@@@@1@15@@oe@2-2-2013
21855014@unknown@formal@none@1@S@Mr. Peters, a LaSalle Street legend among the post-World War II generation of commodity traders, was rumored to have amassed a multimillion-dollar fortune from commodity trading and other activities by the time he died in May.@@@@1@36@@oe@2-2-2013
21856001@unknown@formal@none@1@S@Part of a Series}@@@@1@4@@oe@2-2-2013
21856002@unknown@formal@none@1@S@Betty Lombardi is a mild-mannered homemaker and grandmother in rural Hunterdon County, N.J.@@@@1@13@@oe@2-2-2013
21856003@unknown@formal@none@1@S@But put her behind a shopping cart and she turns ruthless.@@@@1@11@@oe@2-2-2013
21856004@unknown@formal@none@1@S@If Colgate toothpaste offers a tempting money-saving coupon, she'll cross Crest off her shopping list without a second thought.@@@@1@19@@oe@2-2-2013
21856005@unknown@formal@none@1@S@Never mind that her husband prefers Crest.@@@@1@7@@oe@2-2-2013
21856006@unknown@formal@none@1@S@Some weeks when her supermarket runs a double-coupon promotion, she boasts that she shaves $22 off her bill.@@@@1@18@@oe@2-2-2013
21856007@unknown@formal@none@1@S@Money isn't the only thing that makes her dump once favorite brands.@@@@1@12@@oe@2-2-2013
21856008@unknown@formal@none@1@S@After she heard about the artery-clogging hazards of tropical oils in many cookies, she dropped Pepperidge Farm and started buying brands free of such oils.@@@@1@25@@oe@2-2-2013
21856009@unknown@formal@none@1@S@"I always thought Pepperidge Farm was tasty and high quality," Mrs. Lombardi says.@@@@1@13@@oe@2-2-2013
21856010@unknown@formal@none@1@S@"But I don't want any of that oil for my grandkids."@@@@1@11@@oe@2-2-2013
21856011@unknown@formal@none@1@S@(Pepperidge Farm says it can't tell exactly how many customers it has lost, but it hopes to remove the objectionable tropical oil from all its products by year end.)@@@@1@29@@oe@2-2-2013
21856012@unknown@formal@none@1@S@Clearly, people like Mrs. Lombardi are giving marketers fits.@@@@1@9@@oe@2-2-2013
21856013@unknown@formal@none@1@S@She represents a new breed of savvy consumer who puts bargain prices, nutritional and environmental concerns, and other priorities ahead of old-fashioned brand loyalty.@@@@1@24@@oe@2-2-2013
21856014@unknown@formal@none@1@S@While brand loyalty is far from dead, marketing experts say it has eroded during the 1980s.@@@@1@16@@oe@2-2-2013
21856015@unknown@formal@none@1@S@Marketers themselves are partly to blame: They've increased spending for coupons and other short-term promotions at the expense of image-building advertising.@@@@1@21@@oe@2-2-2013
21856016@unknown@formal@none@1@S@What's more, a flood of new products has given consumers a dizzying choice of brands, many of which are virtually carbon copies of one other.@@@@1@25@@oe@2-2-2013
21856017@unknown@formal@none@1@S@"Marketers have brought this on themselves with their heavy use" of promotions, contends Joe Plummer, an executive vice president at the D'Arcy Masius Benton & Bowles ad agency.@@@@1@28@@oe@2-2-2013
21856018@unknown@formal@none@1@S@"Without some real product improvements, it's going to be difficult to win that loyalty back."@@@@1@15@@oe@2-2-2013
21856019@unknown@formal@none@1@S@The Wall Street Journal's "American Way of Buying" survey this year found that most consumers switch brands for many of the products they use.@@@@1@24@@oe@2-2-2013
21856020@unknown@formal@none@1@S@For the survey, Peter D. Hart Research Associates asked some 2,000 consumers, including Mrs. Lombardi, whether they usually buy one brand of a certain type of product or have no brand loyalty.@@@@1@32@@oe@2-2-2013
21856021@unknown@formal@none@1@S@More than half the users of 17 of the 25 products included in the survey said they're brand switchers.@@@@1@19@@oe@2-2-2013
21856022@unknown@formal@none@1@S@Overall, 12% of consumers aren't brand loyal for any of the 25 product categories.@@@@1@14@@oe@2-2-2013
21856023@unknown@formal@none@1@S@About 47% are loyal for one to five of the products.@@@@1@11@@oe@2-2-2013
21856024@unknown@formal@none@1@S@Only 2% are brand loyal in 16 to 20 of the categories, and no one is loyal for more than 20 types of products.@@@@1@24@@oe@2-2-2013
21856025@unknown@formal@none@1@S@For such products as canned vegetables and athletic shoes, devotion to a single brand was quite low, with fewer than 30% saying they usually buy the same brand.@@@@1@28@@oe@2-2-2013
21856026@unknown@formal@none@1@S@Only for cigarettes, mayonnaise and toothpaste did more than 60% of users say they typically stick with the same brand.@@@@1@20@@oe@2-2-2013
21856027@unknown@formal@none@1@S@People tend to be most loyal to brands that have distinctive flavors, such as cigarettes and ketchup.@@@@1@17@@oe@2-2-2013
21856028@unknown@formal@none@1@S@Kathie Huff, a respondent in the Journal survey from Spokane, Wash., says her husband is adamant about eating only Hunt's ketchup.@@@@1@21@@oe@2-2-2013
21856029@unknown@formal@none@1@S@He simply can't stomach the taste of Heinz, she says.@@@@1@10@@oe@2-2-2013
21856030@unknown@formal@none@1@S@The 31-year-old homemaker adds, "The only other thing I'm really loyal to is my Virginia Slims cigarettes.@@@@1@17@@oe@2-2-2013
21856031@unknown@formal@none@1@S@Coke and Pepsi are all the same to me, and I usually buy whichever brand of coffee happens to be on sale."@@@@1@22@@oe@2-2-2013
21856032@unknown@formal@none@1@S@Brand imagery plays a significant role in loyalty to such products as cigarettes, perfume and beer.@@@@1@16@@oe@2-2-2013
21856033@unknown@formal@none@1@S@People often stay with a particular brand because they want to be associated with the image its advertising conveys, whether that's macho Marlboro cigarettes or Cher's Uninhibited perfume.@@@@1@28@@oe@2-2-2013
21856034@unknown@formal@none@1@S@Loyalty lags most for utilitarian products like trash bags and batteries.@@@@1@11@@oe@2-2-2013
21856035@unknown@formal@none@1@S@Only 23% of trash-bag users in the Journal survey usually buy the same brand, and just 29% of battery buyers stick to one brand.@@@@1@24@@oe@2-2-2013
21856036@unknown@formal@none@1@S@Underwear scored a middling 36% in brand loyalty, but consumer researchers say that's actually quite high for such a mundane product.@@@@1@21@@oe@2-2-2013
21856037@unknown@formal@none@1@S@"In the past, you just wore Fruit of the Loom and didn't care," says Peter Kim, U.S. director of consumer behavior research for the J. Walter Thompson ad agency.@@@@1@29@@oe@2-2-2013
21856038@unknown@formal@none@1@S@"The high score reflects the attempts to make underwear more of a fashion image business for both men and women."@@@@1@20@@oe@2-2-2013
21856039@unknown@formal@none@1@S@He believes there's opportunity for a smart gasoline marketer to create a strong brand image and more consumer loyalty.@@@@1@19@@oe@2-2-2013
21856040@unknown@formal@none@1@S@What loyalty there is to gas brands, he believes, is a matter of stopping at the most conveniently located service stations.@@@@1@21@@oe@2-2-2013
21856041@unknown@formal@none@1@S@Brand loyalty was stronger among older consumers in the Journal survey.@@@@1@11@@oe@2-2-2013
21856042@unknown@formal@none@1@S@Nearly one-fourth of participants age 60 and older claim brand loyalty for more than 10 of the 25 products in the survey; only 9% of those age 18 to 29 have such strong allegiance.@@@@1@34@@oe@2-2-2013
21856043@unknown@formal@none@1@S@Higher-income people also tend to be more brand loyal these days, the Journal survey and other research studies indicate.@@@@1@19@@oe@2-2-2013
21856044@unknown@formal@none@1@S@Marketers speculate that more affluent people tend to lead more pressured lives and don't have time to research the products they buy for the highest quality and most reasonable price.@@@@1@30@@oe@2-2-2013
21856045@unknown@formal@none@1@S@An established brand name is insurance that at least the product will be of acceptable quality, if not always the best value for the money.@@@@1@25@@oe@2-2-2013
21856046@unknown@formal@none@1@S@It's sort of loyalty by default.@@@@1@6@@oe@2-2-2013
21856047@unknown@formal@none@1@S@Meanwhile, "the bottom end of the market is becoming less loyal," says Laurel Cutler, vice chairman of the ad agency FCB/Leber Katz Partners.@@@@1@23@@oe@2-2-2013
21856048@unknown@formal@none@1@S@"They're buying whatever's cheaper."@@@@1@4@@oe@2-2-2013
21856049@unknown@formal@none@1@S@The biggest wild card in the brand loyalty game: How those hotly pursued but highly unpredictable baby boomers will behave as they move into middle age.@@@@1@26@@oe@2-2-2013
21856050@unknown@formal@none@1@S@They grew up with more brand choices than any generation and have shown less allegiance so far.@@@@1@17@@oe@2-2-2013
21856051@unknown@formal@none@1@S@But now that they're settling down and raising families, might they also show more stability in their brand choices?@@@@1@19@@oe@2-2-2013
21856052@unknown@formal@none@1@S@Mr. Kim of J. Walter Thompson doesn't think so.@@@@1@9@@oe@2-2-2013
21856053@unknown@formal@none@1@S@He believes baby boomers will continue to be selective in their brand loyalties.@@@@1@13@@oe@2-2-2013
21856054@unknown@formal@none@1@S@"Earlier generations were brand loyal across categories," he says, "but boomers tend to be brand loyal in categories like running shoes and bottled water, but less so in others like toilet paper and appliances."@@@@1@34@@oe@2-2-2013
21856055@unknown@formal@none@1@S@While not as brand loyal as in the past, consumers today don't buy products capriciously, either.@@@@1@16@@oe@2-2-2013
21856056@unknown@formal@none@1@S@Rather, they tend to have a set of two or three favorites.@@@@1@12@@oe@2-2-2013
21856057@unknown@formal@none@1@S@Sometimes, they'll choose Ragu spaghetti sauce; other times, it will be Prego.@@@@1@12@@oe@2-2-2013
21856058@unknown@formal@none@1@S@Advertisers attribute this shared loyalty to the striking similarity among brands.@@@@1@11@@oe@2-2-2013
21856059@unknown@formal@none@1@S@If a more absorbent Pampers hits the market, you can be sure a new and improved Huggies won't be far behind.@@@@1@21@@oe@2-2-2013
21856060@unknown@formal@none@1@S@The BBDO Worldwide ad agency studied "brand parity" and found that consumers believe all brands are about the same in a number of categories, particularly credit cards, paper towels, dry soups and snack chips.@@@@1@34@@oe@2-2-2013
21856061@unknown@formal@none@1@S@"When there's a clutter of brands, consumers simplify the complexity by telling themselves, 'All brands are the same so what difference does it make which I buy,'" says Karen Olshan, a senior vice president at BBDO.@@@@1@36@@oe@2-2-2013
21856062@unknown@formal@none@1@S@"Too often, advertising imagery hasn't done a good job of forging a special emotional bond between a brand and the consumer."@@@@1@21@@oe@2-2-2013
21856063@unknown@formal@none@1@S@But given such strong brand disloyalty, some marketers are putting renewed emphasis on image advertising.@@@@1@15@@oe@2-2-2013
21856064@unknown@formal@none@1@S@A small but growing number of companies are also trying to instill more fervent brand loyalty through such personalized direct-marketing ploys as catalogs, magazines and membership clubs for brand users.@@@@1@30@@oe@2-2-2013
21856065@unknown@formal@none@1@S@While discount promotions are essential for most brands, some companies concede they went overboard in shifting money from advertising to coupons, refunds and other sales incentives.@@@@1@26@@oe@2-2-2013
21856066@unknown@formal@none@1@S@Some people argue that strong brands can afford to stop advertising for a time because of the residual impact of hundreds of millions of dollars spent on advertising through the years.@@@@1@31@@oe@2-2-2013
21856067@unknown@formal@none@1@S@But most companies are too afraid to take that chance.@@@@1@10@@oe@2-2-2013
21856068@unknown@formal@none@1@S@And perhaps with good reason.@@@@1@5@@oe@2-2-2013
21856069@unknown@formal@none@1@S@Says Clayt Wilhite, president of the D'Arcy Masius ad agency's U.S. division, "Every time 24 hours pass without any advertising reinforcement, brand loyalty will diminish ever so slightly -- even for a powerful brand like Budweiser."@@@@1@36@@oe@2-2-2013
21856070@unknown@formal@none@1@S@Consider, for example, what happened to Maxwell House coffee.@@@@1@9@@oe@2-2-2013
21856071@unknown@formal@none@1@S@The Kraft General Foods brand stopped advertising for about a year in 1987 and gave up several market share points and its leadership position in the coffee business.@@@@1@28@@oe@2-2-2013
21856072@unknown@formal@none@1@S@But since returning to advertising, Maxwell House has regained the lost share and is running neck and neck with archrival Folgers.@@@@1@21@@oe@2-2-2013
21856073@unknown@formal@none@1@S@"Now, Philip Morris {Kraft General Foods' parent company} is committed to the coffee business and to increased advertising for Maxwell House," says Dick Mayer, president of the General Foods USA division.@@@@1@31@@oe@2-2-2013
21856074@unknown@formal@none@1@S@"Even though brand loyalty is rather strong for coffee, we need advertising to maintain and strengthen it."@@@@1@17@@oe@2-2-2013
21856075@unknown@formal@none@1@S@Campbell Soup Co., for one, has concluded that it makes good sense to focus more on its most loyal customers than on people who buy competitive brands.@@@@1@27@@oe@2-2-2013
21856076@unknown@formal@none@1@S@"The probability of converting a non-user to your brand is about three in 1,000," says Tony Adams, the company's vice president for marketing research.@@@@1@24@@oe@2-2-2013
21856077@unknown@formal@none@1@S@"The best odds are with your core franchise.@@@@1@8@@oe@2-2-2013
21856078@unknown@formal@none@1@S@Our heavy users consume two to three cans of soup a week, and we'd like to increase that."@@@@1@18@@oe@2-2-2013
21856079@unknown@formal@none@1@S@So Campbell is talking to its "brand enthusiasts," probing their psychological attachment to its soup.@@@@1@15@@oe@2-2-2013
21856080@unknown@formal@none@1@S@In one consumer focus group, a fan declared that, "Campbell's soup is like getting a hug from a friend."@@@@1@19@@oe@2-2-2013
21856081@unknown@formal@none@1@S@That helped persuade the company to introduce a new advertising slogan: "A warm hug from Campbell's."@@@@1@16@@oe@2-2-2013
21857001@unknown@formal@none@1@S@Insurers face the prospect of paying out billions of dollars for damages caused by this week's California earthquake.@@@@1@18@@oe@2-2-2013
21857002@unknown@formal@none@1@S@Getting a grip on the extent of the damages is proving a far more difficult task than what insurers faced after Hurricane Hugo ripped through the Caribbean and the Carolinas last month.@@@@1@32@@oe@2-2-2013
21857003@unknown@formal@none@1@S@The earthquake's toll, including possible deep structural damage, goes far beyond the more easily observed damage from a hurricane, says George Reider, a vice president in Aetna Life & Casualty Insurance Co.'s claims division.@@@@1@34@@oe@2-2-2013
21857004@unknown@formal@none@1@S@But investors are betting that the financial and psychological impact of the earthquake, coming so soon after the hurricane, will help stem more than two years of intense price-cutting wars among business insurers.@@@@1@33@@oe@2-2-2013
21857005@unknown@formal@none@1@S@Reflecting that logic, insurance-company stocks posted strong gains.@@@@1@8@@oe@2-2-2013
21857006@unknown@formal@none@1@S@Aetna and other insurers are hiring engineers and architects to help them assess structural damage.@@@@1@15@@oe@2-2-2013
21857007@unknown@formal@none@1@S@Most insurers already have mobilized their "catastrophe" teams to begin processing claims from their policyholders in northern California.@@@@1@18@@oe@2-2-2013
21857008@unknown@formal@none@1@S@Since commercial air travel is interrupted, Aetna, based in Hartford, Conn., chartered three planes to fly claims adjusters into Sacramento and then planned for them to drive to the Bay area.@@@@1@31@@oe@2-2-2013
21857009@unknown@formal@none@1@S@About 25 adjusters were dispatched yesterday afternoon, along with laptop computers, cellular phones and blank checks.@@@@1@16@@oe@2-2-2013
21857010@unknown@formal@none@1@S@Some adjusters, already in other parts of California, drove to the disaster area with recreational vehicles and mobile homes that could be used as makeshift claims-processing centers.@@@@1@27@@oe@2-2-2013
21857011@unknown@formal@none@1@S@Insurers will be advertising 800 numbers -- probably on the radio -- that policyholders can call to get assistance on how to submit claims.@@@@1@24@@oe@2-2-2013
21857012@unknown@formal@none@1@S@State Farm Mutual Automobile Insurance Co., the largest home and auto insurer in California, believes the losses from the earthquake could be somewhat less than the $475 million in damages it expects to pay out for claims resulting from Hurricane Hugo.@@@@1@41@@oe@2-2-2013
21857013@unknown@formal@none@1@S@State Farm, based in Bloomington, Ind., is also the largest writer of personal-property earthquake insurance in California.@@@@1@17@@oe@2-2-2013
21857014@unknown@formal@none@1@S@Earthquake insurance is sold as a separate policy or a specific endorsement "rider" on a homeowner's policy in California, because of the area's vulnerability to earthquakes.@@@@1@26@@oe@2-2-2013
21857015@unknown@formal@none@1@S@State Farm said about 25% of its policyholders in California have also purchased earthquake insurance.@@@@1@15@@oe@2-2-2013
21857016@unknown@formal@none@1@S@Allstate Insurance Co., a unit of Sears, Roebuck & Co., said about 23% of its personal property policyholders -- about 28% in the San Franciso area -- also have earthquake coverage.@@@@1@31@@oe@2-2-2013
21857017@unknown@formal@none@1@S@The Association of California Insurance Companies estimated damage to residential property could total $500 million, but only $100 million to $150 million is insured, it said.@@@@1@26@@oe@2-2-2013
21857018@unknown@formal@none@1@S@Officials from the American Insurance Association's property-claim service division, which coordinates the efforts of the claims adjusters in an area after a natural disaster, will be flying to San Francisco today.@@@@1@31@@oe@2-2-2013
21857019@unknown@formal@none@1@S@They expect to have a preliminary estimate of the damages in a day or two.@@@@1@15@@oe@2-2-2013
21857020@unknown@formal@none@1@S@Roads and bridges in the Bay area appear to have suffered some of the most costly damage.@@@@1@17@@oe@2-2-2013
21857021@unknown@formal@none@1@S@Highways, such as the section of Interstate 880 that collapsed in Oakland, generally don't have insurance coverage.@@@@1@17@@oe@2-2-2013
21857022@unknown@formal@none@1@S@Industry officials say the Bay Bridge -- unlike some bridges -- has no earthquake coverage, either, so the cost of repairing it probably would have to be paid out of state general operating funds.@@@@1@34@@oe@2-2-2013
21857023@unknown@formal@none@1@S@However, the bridge, which charges a $1 toll each way, does have "loss of income" insurance to replace lost revenue if the operation of the bridge is interrupted for more than seven days.@@@@1@33@@oe@2-2-2013
21857024@unknown@formal@none@1@S@That coverage is provided by a syndicate of insurance companies including Fireman's Fund Corp., based in Novato, Calif., and Cigna Corp., based in Philadelphia.@@@@1@24@@oe@2-2-2013
21857025@unknown@formal@none@1@S@Earthquake-related claims aren't expected to cause significant financial problems for the insurance industry as a whole.@@@@1@16@@oe@2-2-2013
21857026@unknown@formal@none@1@S@Instead, even with the liabilities of two natural disasters in recent weeks, analysts said the total capital of the industry is likely to be higher at year end than it was at midyear.@@@@1@33@@oe@2-2-2013
21857027@unknown@formal@none@1@S@Indeed, the earthquake could contribute to a turnaround in the insurance cycle in a couple of ways.@@@@1@17@@oe@2-2-2013
21857028@unknown@formal@none@1@S@For example, insurers may seek to limit their future exposure to catastrophes by increasing the amount of reinsurance they buy.@@@@1@20@@oe@2-2-2013
21857029@unknown@formal@none@1@S@Such increased demand for reinsurance, along with the losses the reinsurers will bear from these two disasters, are likely to spur increases in reinsurance prices that will later be translated into an overall price rise.@@@@1@35@@oe@2-2-2013
21857030@unknown@formal@none@1@S@Reinsurance is protection taken out by the insurance firms themselves.@@@@1@10@@oe@2-2-2013
21857031@unknown@formal@none@1@S@"We are saying this is the breaking point, this is the event that will change the psychology of the marketplace," said William Yankus, an analyst with Conning & Co., a Hartford firm that specializes in the insurance industry.@@@@1@38@@oe@2-2-2013
21857032@unknown@formal@none@1@S@His firm, along with some others, issued new buy recommendations on insurer stocks yesterday.@@@@1@14@@oe@2-2-2013
21857033@unknown@formal@none@1@S@Among the insurance stocks, big gainers included American International Group, up $3.25 to $102.625; General Re Corp., up $2.75 to $86.50; Aetna, up $2.375 to $59.50; and Marsh & McLennan Inc., up $3.125 to $75.875.@@@@1@35@@oe@2-2-2013
21857034@unknown@formal@none@1@S@Still, a few individual companies, most likely smaller ones, could be devastated.@@@@1@12@@oe@2-2-2013
21857035@unknown@formal@none@1@S@"I think there is a damned good chance someone is going to hit the skids on this," said Oppenheimer & Co. analyst Myron Picoult.@@@@1@24@@oe@2-2-2013
21857036@unknown@formal@none@1@S@He suspects some insurers who had purchased reinsurance to limit their exposure to catastrophes will discover that reinsurance was used up by Hurricane Hugo.@@@@1@24@@oe@2-2-2013
21857037@unknown@formal@none@1@S@British, West German, Scandinavian and other overseas insurers are bracing for big claims from the San Francisco earthquake disaster.@@@@1@19@@oe@2-2-2013
21857038@unknown@formal@none@1@S@Although it's unclear how much exposure the London market will face, U.K. underwriters traditionally have a large reinsurance exposure to U.S. catastrophe coverage.@@@@1@23@@oe@2-2-2013
21857039@unknown@formal@none@1@S@Jack Byrne, chairman of Fireman's Fund, said this disaster will test the catastrophe reinsurance market, causing these rates to soar.@@@@1@20@@oe@2-2-2013
21857040@unknown@formal@none@1@S@The catastrophe losses sustained by insurers this year will probably be the worst on an inflation-adjusted basis since 1906 -- when another earthquake sparked the Great San Francisco Fire.@@@@1@29@@oe@2-2-2013
21857041@unknown@formal@none@1@S@Orin Kramer, an insurance consultant in New York, estimates that the 1906 San Francisco destruction, on an inflation-adjusted basis, included insured losses of $5.8 billion.@@@@1@25@@oe@2-2-2013
21857042@unknown@formal@none@1@S@He is estimating this week's disaster will generate insured losses of $2 billion to $4 billion, following about $4 billion in costs to insurers from Hurricane Hugo.@@@@1@27@@oe@2-2-2013
21858001@unknown@formal@none@1@S@Silicon Graphics Inc.'s first-quarter profit rose sharply to $5.2 million, or 28 cents a share, from $1 million, or six cents a share, a year ago.@@@@1@26@@oe@2-2-2013
21858002@unknown@formal@none@1@S@The maker of computer workstations said a surge of government orders contributed to the increase.@@@@1@15@@oe@2-2-2013
21858003@unknown@formal@none@1@S@Revenue rose 95% to $86.4 million from $44.3 million the year earlier.@@@@1@12@@oe@2-2-2013
21858004@unknown@formal@none@1@S@In national over-the-counter trading, the company closed yesterday at $23.25 a share, down 25 cents.@@@@1@15@@oe@2-2-2013
21859001@unknown@formal@none@1@S@Hunter Environmental Services Inc. said it reached a preliminary accord on the sale of its environmental consulting and services business for about $40 million and assumption of related debt.@@@@1@29@@oe@2-2-2013
21859002@unknown@formal@none@1@S@The buyer wasn't identified.@@@@1@4@@oe@2-2-2013
21859003@unknown@formal@none@1@S@The company said it also is making progress in negotiating the buy-out of its design division by management.@@@@1@18@@oe@2-2-2013
21859004@unknown@formal@none@1@S@In addition, Hunter said it will use proceeds from a private placement of $8 million of preferred shares to purchase an interest in a start-up company to underwrite environmental impairment insurance.@@@@1@31@@oe@2-2-2013
21859005@unknown@formal@none@1@S@Hunter wants to concentrate its resources on the insurance business and on a project to store hazardous wastes in salt domes.@@@@1@21@@oe@2-2-2013
21860001@unknown@formal@none@1@S@Jaguar PLC's chairman said he hopes to reach a friendly pact with General Motors Corp. within a month that may involve the British luxury-car maker's producing a cheaper executive model.@@@@1@30@@oe@2-2-2013
21860002@unknown@formal@none@1@S@Sir John Egan told reporters at London's Motorfair yesterday he "would be disappointed if we couldn't do {the deal} within a month."@@@@1@22@@oe@2-2-2013
21860003@unknown@formal@none@1@S@He said the tie-up would mean Jaguar could "develop cars down range {in price} from where we are" by offering access to GM's high-volume parts production.@@@@1@26@@oe@2-2-2013
21860004@unknown@formal@none@1@S@Besides creating joint manufacturing ventures, the accord is expected to give GM about a 15% stake that eventually would rise to about 30%.@@@@1@23@@oe@2-2-2013
21860005@unknown@formal@none@1@S@Jaguar figures a friendly alliance with GM will fend off unwelcome advances from Ford Motor Co.@@@@1@16@@oe@2-2-2013
21860006@unknown@formal@none@1@S@But Ford, Jaguar's biggest shareholder since lifting its stake to 10.4% this week, is pressing harder for talks with Sir John.@@@@1@21@@oe@2-2-2013
21860007@unknown@formal@none@1@S@"We're getting to the point where we are going to have to meet" with him, one Ford official said yesterday.@@@@1@20@@oe@2-2-2013
21860008@unknown@formal@none@1@S@Ford probably will renew its request for such a meeting soon, he added.@@@@1@13@@oe@2-2-2013
21860009@unknown@formal@none@1@S@Sir John has spurned Ford's advances since the U.S. auto giant launched a surprise bid for as much as 15% of Jaguar last month.@@@@1@24@@oe@2-2-2013
21860010@unknown@formal@none@1@S@Ford has signaled it might acquire a majority interest later.@@@@1@10@@oe@2-2-2013
21860011@unknown@formal@none@1@S@"I'm not obligated to sit down and talk to anybody," the Jaguar chairman asserted yesterday.@@@@1@15@@oe@2-2-2013
21860012@unknown@formal@none@1@S@He didn't rule out negotiations with Ford, however.@@@@1@8@@oe@2-2-2013
21860013@unknown@formal@none@1@S@The fiercely proud but financially strapped British company prefers to remain independent and publicly held, despite Ford's promise of access to cash and technological know-how.@@@@1@25@@oe@2-2-2013
21860014@unknown@formal@none@1@S@Sir John noted that GM, a longtime Jaguar supplier, agrees "we should remain an independent company."@@@@1@16@@oe@2-2-2013
21860015@unknown@formal@none@1@S@He said Jaguar started negotiating with GM and several other car makers over a year ago, but the rest "dropped by the wayside ever since the share price went above #4 ($6.30) a share."@@@@1@34@@oe@2-2-2013
21860016@unknown@formal@none@1@S@Jaguar shares stood at 405 pence before Ford's initial announcement, but the subsequent takeover frenzy has driven them up.@@@@1@19@@oe@2-2-2013
21860017@unknown@formal@none@1@S@The stock traded late yesterday on London's stock exchange at 673 pence, up 19 pence.@@@@1@15@@oe@2-2-2013
21860018@unknown@formal@none@1@S@Developing an executive-model range would mark a major departure for Britain's leading luxury-car maker.@@@@1@14@@oe@2-2-2013
21860019@unknown@formal@none@1@S@A typical British executive car is mass produced and smaller than a luxury car.@@@@1@14@@oe@2-2-2013
21860020@unknown@formal@none@1@S@It generally fetches no more than #25,000 ($39,400) -- roughly #16,000 less than the highest-priced Jaguars, which are all known for their hand-crafted leather work.@@@@1@25@@oe@2-2-2013
21860021@unknown@formal@none@1@S@"We have designs for such {executive} cars, but have never been able to develop them," Sir John said.@@@@1@18@@oe@2-2-2013
21860022@unknown@formal@none@1@S@GM's help would "make it possible {for Jaguar} to build a wider range of cars."@@@@1@15@@oe@2-2-2013
21860023@unknown@formal@none@1@S@An executive model would significantly boost Jaguar's yearly output of 50,000 cars.@@@@1@12@@oe@2-2-2013
21860024@unknown@formal@none@1@S@"You are talking about a couple hundred thousand a year," said Bob Barber, an auto-industry analyst at U.K. brokerage James Capel & Co.@@@@1@23@@oe@2-2-2013
21860025@unknown@formal@none@1@S@A pact with GM may emerge in as little as two weeks, according to sources close to the talks.@@@@1@19@@oe@2-2-2013
21860026@unknown@formal@none@1@S@The deal would require approval by a majority of Jaguar shareholders.@@@@1@11@@oe@2-2-2013
21860027@unknown@formal@none@1@S@"We have to make it attractive enough that {holders} would accept it," Sir John said.@@@@1@15@@oe@2-2-2013
21860028@unknown@formal@none@1@S@That may be difficult, the Jaguar chairman acknowledged, "when you have somebody else breathing down your neck.@@@@1@17@@oe@2-2-2013
21860029@unknown@formal@none@1@S@" Ford probably would try to kill the proposal by enlisting support from U.S. takeover-stock speculators and holding out the carrot of a larger bid later, said Stephen Reitman, European auto analyst at London brokers UBS Phillips & Drew.@@@@1@39@@oe@2-2-2013
21860030@unknown@formal@none@1@S@Ford can't make a full-fledged bid for Jaguar until U.K. government restrictions expire.@@@@1@13@@oe@2-2-2013
21860031@unknown@formal@none@1@S@The anti-takeover measure prevents any outside investor from buying more than 15% of Jaguar shares without permission until Dec. 31, 1990.@@@@1@21@@oe@2-2-2013
21860032@unknown@formal@none@1@S@But with its 10.4% stake, Ford can convene a special Jaguar shareholders' meeting and urge them to drop the restrictions prematurely.@@@@1@21@@oe@2-2-2013
21860033@unknown@formal@none@1@S@"It's a very valuable weapon in their armory," which could enable Ford to bid sooner for Jaguar, observed Mr. Barber of James Capel.@@@@1@23@@oe@2-2-2013
21860034@unknown@formal@none@1@S@Otherwise, Jaguar may have to tolerate the two U.S. auto giants each owning a 15% stake for more than a year.@@@@1@21@@oe@2-2-2013
21860035@unknown@formal@none@1@S@"It would be difficult to see how a car company can be owned by a collective," Sir John said.@@@@1@19@@oe@2-2-2013
21860036@unknown@formal@none@1@S@"It has never been done before, but there's always a first.@@@@1@11@@oe@2-2-2013
21861001@unknown@formal@none@1@S@Although two Baby Bells showed strong growth in access lines, usage and unregulated business revenue, one reported a modest gain in third-quarter net while the other posted a small drop.@@@@1@30@@oe@2-2-2013
21861002@unknown@formal@none@1@S@Ameritech Corp.'s earnings increased 2.8%, after strong revenue gains were offset somewhat by refunds and rate reductions imposed by regulators in its Midwest territory.@@@@1@24@@oe@2-2-2013
21861003@unknown@formal@none@1@S@BellSouth Corp.'s third-quarter earnings dropped 3.8% as a result of debt refinancing, the recent acquisition of a cellular and paging property and rate reductions in its Southeast territory.@@@@1@28@@oe@2-2-2013
21861004@unknown@formal@none@1@S@BellSouth@@@@1@1@@oe@2-2-2013
21861005@unknown@formal@none@1@S@At BellSouth, based in Atlanta, customer access lines grew by 162,000, or 3.5%, during the 12-month period ended Sept.@@@@1@19@@oe@2-2-2013
21861006@unknown@formal@none@1@S@For the third quarter, total operating revenue grew 2.6% to $3.55 billion from $3.46 billion.@@@@1@15@@oe@2-2-2013
21861007@unknown@formal@none@1@S@Total operating expenses increased 3.5% to $2.78 billion from $2.69 billion.@@@@1@11@@oe@2-2-2013
21861008@unknown@formal@none@1@S@Overall access minutes of use increased 10.3% and toll messages jumped 5.2%.@@@@1@12@@oe@2-2-2013
21861009@unknown@formal@none@1@S@BellSouth Chairman and Chief Executive Officer John L. Clendenin said three factors accounted for the drop in third-quarter earnings.@@@@1@19@@oe@2-2-2013
21861010@unknown@formal@none@1@S@The refinancing of $481 million in long-term debt reduced net income by $22 million, or five cents a share, but in the long run will save more than $250 million in interest costs.@@@@1@33@@oe@2-2-2013
21861011@unknown@formal@none@1@S@The company previously said that the recent acquisition of Mobile Communications Corp. of America would dilute 1989 earnings by about 3%.@@@@1@21@@oe@2-2-2013
21861012@unknown@formal@none@1@S@In addition, earnings were reduced by rate reductions in Florida, Kentucky, Alabama, Tennessee and Louisiana.@@@@1@15@@oe@2-2-2013
21861013@unknown@formal@none@1@S@Ameritech@@@@1@1@@oe@2-2-2013
21861014@unknown@formal@none@1@S@At Ameritech, based in Chicago, customer access lines increased by 402,000, or 2.6%, and cellular mobile lines increased by 80,000, or 62.3%, for the 12-month period ended Sept. 30.@@@@1@29@@oe@2-2-2013
21861015@unknown@formal@none@1@S@For the third quarter, revenue increased 1.9% to $2.55 billion from $2.51 billion.@@@@1@13@@oe@2-2-2013
21861016@unknown@formal@none@1@S@Operating expenses increased 2.6% to $2.04 billion, including one-time pretax charges of $40 million for labor contract signing bonuses.@@@@1@19@@oe@2-2-2013
21861017@unknown@formal@none@1@S@Local service revenue increased 3.5% and directory and unregulated business revenue jumped 9.5%.@@@@1@13@@oe@2-2-2013
21861018@unknown@formal@none@1@S@But network access revenue dropped 4% and toll revenue dropped 1.4%.@@@@1@11@@oe@2-2-2013
21861019@unknown@formal@none@1@S@a-reflects 2-for-1 stock split effective Dec. 30, 1988.@@@@1@8@@oe@2-2-2013
21861020@unknown@formal@none@1@S@b-reflects extraordinary loss of five cents a share for early debt retirement.@@@@1@12@@oe@2-2-2013
21861021@unknown@formal@none@1@S@c-reflects extraordinary loss of five cents a share and extraordinary gain of 14 cents a share from cumulative effect of accounting change.@@@@1@22@@oe@2-2-2013
21862001@unknown@formal@none@1@S@The Wall Street Journal "American Way of Buying" Survey consists of two separate, door-to-door nationwide polls conducted for the Journal by Peter D. Hart Research Associates and the Roper Organization.@@@@1@30@@oe@2-2-2013
21862002@unknown@formal@none@1@S@The two surveys, which asked different questions, were conducted using national random probability samples.@@@@1@14@@oe@2-2-2013
21862003@unknown@formal@none@1@S@The poll conducted by Peter D. Hart Research Associates interviewed 2,064 adults age 18 and older from June 15 to June 30, 1989.@@@@1@23@@oe@2-2-2013
21862004@unknown@formal@none@1@S@The poll conducted by the Roper Organization interviewed 2,002 adults age 18 and older from July 7 to July 15, 1989.@@@@1@21@@oe@2-2-2013
21862005@unknown@formal@none@1@S@Responses were weighted on the basis of age and gender to conform with U.S. Census data.@@@@1@16@@oe@2-2-2013
21862006@unknown@formal@none@1@S@For each poll, the odds are 19 out of 20 that if pollsters had sought to survey every household in the U.S. using the same questionnaire, the findings would differ from these poll results by no more than 2 1/2 percentage points in either direction.@@@@1@45@@oe@2-2-2013
21862007@unknown@formal@none@1@S@The margin of error for subgroups -- for example, married women with children at home -- would be larger.@@@@1@19@@oe@2-2-2013
21862008@unknown@formal@none@1@S@In addition, in any survey, there is always the chance that other factors such as question wording could introduce errors into the findings.@@@@1@23@@oe@2-2-2013
21863001@unknown@formal@none@1@S@Program traders were buying and selling at full steam Monday, the first trading session after the stock market's 190.58-point plunge Friday.@@@@1@21@@oe@2-2-2013
21863002@unknown@formal@none@1@S@They accounted for a hefty 16% of New York Stock Exchange volume Monday, the fourth busiest session ever.@@@@1@18@@oe@2-2-2013
21863003@unknown@formal@none@1@S@On Friday, 13% of volume was in computer-guided program trades.@@@@1@10@@oe@2-2-2013
21863004@unknown@formal@none@1@S@In August, by contrast, program trading averaged 10.3% of daily Big Board turnover.@@@@1@13@@oe@2-2-2013
21863005@unknown@formal@none@1@S@Program traders were publicly castigated following the 508-point crash Oct. 19, 1987, and a number of brokerage firms pulled back from using this strategy for a while.@@@@1@27@@oe@2-2-2013
21863006@unknown@formal@none@1@S@But as the outcry faded by the spring of 1988, they resumed.@@@@1@12@@oe@2-2-2013
21863007@unknown@formal@none@1@S@Some observers thought that after Friday's sharp drop, the firms would rein in their program traders to avoid stoking more controversy.@@@@1@21@@oe@2-2-2013
21863008@unknown@formal@none@1@S@But the statistics released yesterday show the firms did nothing of the sort.@@@@1@13@@oe@2-2-2013
21863009@unknown@formal@none@1@S@One reason, they said, was that the official reports on the 1987 crash exonerated program trading as a cause.@@@@1@19@@oe@2-2-2013
21863010@unknown@formal@none@1@S@Stock-index arbitrage is the most controversial form of program trading because it accelerates market moves, if not actually causing them.@@@@1@20@@oe@2-2-2013
21863011@unknown@formal@none@1@S@In it, traders buy or sell stocks and offset those positions in stock-index futures contracts to profit from fleeting price discrepancies.@@@@1@21@@oe@2-2-2013
21863012@unknown@formal@none@1@S@Under the exchange's definitions, program trading also describes a number of other strategies that, in the opinion of some traders, don't cause big swings in the market.@@@@1@27@@oe@2-2-2013
21863013@unknown@formal@none@1@S@The Big Board's disclosure of program trading activity on these two days was unusual.@@@@1@14@@oe@2-2-2013
21863014@unknown@formal@none@1@S@Though it collects such data daily, its monthly reports on program trading usually come out about three weeks after each month ends.@@@@1@22@@oe@2-2-2013
21863015@unknown@formal@none@1@S@The September figures are due to be released this week.@@@@1@10@@oe@2-2-2013
21863016@unknown@formal@none@1@S@The Big Board declined to name the Wall Street firms involved in the activity Friday and Monday, or the type of strategies used.@@@@1@23@@oe@2-2-2013
21863017@unknown@formal@none@1@S@But traders on the exchange floor, who can observe the computer-guided trading activity on monitor screens, said most of the top program-trading firms were active both days.@@@@1@27@@oe@2-2-2013
21863018@unknown@formal@none@1@S@Through August, the top five program trading firms in volume were Morgan Stanley & Co., Kidder, Peabody & Co., Merrill Lynch & Co., PaineWebber Group Inc. and Salomon Brothers Inc.@@@@1@30@@oe@2-2-2013
21863019@unknown@formal@none@1@S@Though brokerage officials defended their use of program trading, one sign of what an issue it remains was that few executives would comment on the record.@@@@1@26@@oe@2-2-2013
21863020@unknown@formal@none@1@S@Besides reciting the pardon for program trading contained in the Brady Commission report, they said stock-index arbitrage was actually needed Monday to restore the markets' equilibrium.@@@@1@26@@oe@2-2-2013
21863021@unknown@formal@none@1@S@On Friday, the stock-index futures market was unhinged from the stock market when the Chicago Mercantile Exchange halted trading in Standard & Poor's 500 futures contract -- a "circuit breaker" procedure instituted after the 1987 crash and implemented for the first time.@@@@1@42@@oe@2-2-2013
21863022@unknown@formal@none@1@S@Futures trading resumed a half-hour later, but the session ended shortly thereafter, leaving the stock market set up for more sell programs, traders said.@@@@1@24@@oe@2-2-2013
21863023@unknown@formal@none@1@S@By Monday morning, they said, stock-index arbitrage sell programs helped re-establish the link between stocks and futures.@@@@1@17@@oe@2-2-2013
21863024@unknown@formal@none@1@S@But stunning volatility was produced in the process.@@@@1@8@@oe@2-2-2013
21863025@unknown@formal@none@1@S@The Dow Jones Industrial Average plunged a breathtaking 63.52 points in the first 40 minutes of trading Monday as stock-index arbitrage sell programs kicked in.@@@@1@25@@oe@2-2-2013
21863026@unknown@formal@none@1@S@At about 10:10 a.m. EDT, the market abruptly turned upward on stock-index arbitrage buy programs.@@@@1@15@@oe@2-2-2013
21863027@unknown@formal@none@1@S@By day's end, the Dow industrials had rebounded 88.12 points, or nearly half of Friday's drop.@@@@1@16@@oe@2-2-2013
21864001@unknown@formal@none@1@S@FREDERICK'S OF HOLLYWOOD Inc., Los Angeles, said its board voted a 50% increase in the specialty boutique-store operator's semiannual dividend, to five cents a common share.@@@@1@26@@oe@2-2-2013
21864002@unknown@formal@none@1@S@The dividend is payable Dec. 15 to stock of record Nov. 15.@@@@1@12@@oe@2-2-2013
21865001@unknown@formal@none@1@S@Valley National Corp. reported a third-quarter net loss of $72.2 million, or $3.65 a share, and suspended its quarterly dividend because of potential losses on its Arizona real estate holdings.@@@@1@30@@oe@2-2-2013
21865002@unknown@formal@none@1@S@The Phoenix-based holding company for Arizona's largest bank said it added $121 million to its allowance for losses on loans and for real estate owned.@@@@1@25@@oe@2-2-2013
21865003@unknown@formal@none@1@S@The company earned $18.7 million, or 95 cents a share, a year earlier.@@@@1@13@@oe@2-2-2013
21865004@unknown@formal@none@1@S@For the nine months, Valley National posted a net loss of $136.4 million, or $6.90 a share.@@@@1@17@@oe@2-2-2013
21865005@unknown@formal@none@1@S@It had profit of $48.6 million, or $2.46 a share, in the 1988 period.@@@@1@14@@oe@2-2-2013
21865006@unknown@formal@none@1@S@Valley National had been paying a quarterly dividend of 36 cents a share.@@@@1@13@@oe@2-2-2013
21865007@unknown@formal@none@1@S@"The Arizona real estate market continues to be depressed, and there is still uncertainty as to when values will recover," James P. Simmons, chairman, said.@@@@1@25@@oe@2-2-2013
21865008@unknown@formal@none@1@S@The decision to increase the loan-loss reserve and suspend the dividend is "both prudent and in the best long-term interest of the shareholders," he said.@@@@1@25@@oe@2-2-2013
21865009@unknown@formal@none@1@S@Valley National said it made the decision on the basis of an "overall assessment of the marketplace" and the condition of its loan portfolio and after reviewing it with federal regulators.@@@@1@31@@oe@2-2-2013
21865010@unknown@formal@none@1@S@The addition to reserves comes on top of a provision of $199.7 million that was announced in June.@@@@1@18@@oe@2-2-2013
21865011@unknown@formal@none@1@S@In July, Moody's downgraded $400 million of the company's debt, saying the bank holding company hadn't taken adequate write-offs against potential losses on real estate loans despite its second-quarter write-down.@@@@1@30@@oe@2-2-2013
21865012@unknown@formal@none@1@S@Richard M. Greenwood, Valley National's executive vice president, said then that the company believed the write-downs were "adequate" and didn't plan to increase its reserves again.@@@@1@26@@oe@2-2-2013
21865013@unknown@formal@none@1@S@Bruce Hoyt, a banking analyst with Boettcher & Co., a Denver brokerage firm, said Valley National "isn't out of the woods yet."@@@@1@22@@oe@2-2-2013
21865014@unknown@formal@none@1@S@The key will be whether Arizona real estate turns around or at least stabilizes, he said.@@@@1@16@@oe@2-2-2013
21865015@unknown@formal@none@1@S@"They've stepped up to the plate to take the write-downs, but when markets head down, a company is always exposed to further negative surprises," Mr. Hoyt said.@@@@1@27@@oe@2-2-2013
21865016@unknown@formal@none@1@S@Valley National closed yesterday at $24.25 a share, down $1, in national over-the-counter trading.@@@@1@14@@oe@2-2-2013
21866001@unknown@formal@none@1@S@Two years of coddling, down the drain.@@@@1@7@@oe@2-2-2013
21866002@unknown@formal@none@1@S@That's the way a lot of brokers feel today on the second anniversary of the 1987 stock-market crash.@@@@1@18@@oe@2-2-2013
21866003@unknown@formal@none@1@S@Ever since that fearful Black Monday, they've been tirelessly wooing wary individual investors -- trying to convince them that Oct. 19, 1987, was a fluke and that the stock market really is a safe place for average Americans to put their hard-earned dollars.@@@@1@43@@oe@2-2-2013
21866004@unknown@formal@none@1@S@And until last Friday, it seemed those efforts were starting to pay off.@@@@1@13@@oe@2-2-2013
21866005@unknown@formal@none@1@S@"Some of those folks were coming back," says Leslie Quick Jr., chairman, of discount brokers Quick & Reilly Group Inc.@@@@1@20@@oe@2-2-2013
21866006@unknown@formal@none@1@S@"We had heard from people who hadn't been active" for a long time.@@@@1@13@@oe@2-2-2013
21866007@unknown@formal@none@1@S@Then came the frightening 190-point plunge in the Dow Jones Industrial Average and a new wave of stock-market volatility.@@@@1@19@@oe@2-2-2013
21866008@unknown@formal@none@1@S@All of a sudden, it was back to square one.@@@@1@10@@oe@2-2-2013
21866009@unknown@formal@none@1@S@"It's going to set things back for a period, because it reinforces the concern of volatility," says Jeffrey B. Lane, president of Shearson Lehman Hutton Inc.@@@@1@26@@oe@2-2-2013
21866010@unknown@formal@none@1@S@"I think it will shake confidence one more time, and a lot of this business is based on client confidence."@@@@1@20@@oe@2-2-2013
21866011@unknown@formal@none@1@S@Brokers around the country say the reaction from individual investors this week has been almost eerie.@@@@1@16@@oe@2-2-2013
21866012@unknown@formal@none@1@S@Customers and potential customers are suddenly complaining about the stock market in the exact way they did in post-crash 1987.@@@@1@20@@oe@2-2-2013
21866013@unknown@formal@none@1@S@"The kinds of questions you had before have resurfaced," says Raymond A. "Chip" Mason, chairman of regional brokerage firm Legg Mason Inc., Baltimore.@@@@1@23@@oe@2-2-2013
21866014@unknown@formal@none@1@S@"I can just tell the questions are right back where they were: `What's going on?,' `Can't anything be done about program trading?,' `Doesn't the exchange understand?,' `Where is the SEC on this?'"@@@@1@32@@oe@2-2-2013
21866015@unknown@formal@none@1@S@Mr. Mason says he's convinced the public still wants to invest in common stocks, even though they believe the deck is stacked against them.@@@@1@24@@oe@2-2-2013
21866016@unknown@formal@none@1@S@But "these wide swings scare them to death."@@@@1@8@@oe@2-2-2013
21866017@unknown@formal@none@1@S@All of this is bad news for the big brokerage firms such as Shearson and Merrill Lynch & Co. that have big "retail," or individual-investor, businesses.@@@@1@26@@oe@2-2-2013
21866018@unknown@formal@none@1@S@After expanding rapidly during the bull-market years up to the 1987 crash, retail brokerage operations these days are getting barely enough business to pay the overhead.@@@@1@26@@oe@2-2-2013
21866019@unknown@formal@none@1@S@True, the amount of money investors are willing to entrust to their brokers has been growing lately.@@@@1@17@@oe@2-2-2013
21866020@unknown@formal@none@1@S@But those dollars have been going into such "safe" products as money market funds, which don't generate much in the way of commissions for the brokerage firms.@@@@1@27@@oe@2-2-2013
21866021@unknown@formal@none@1@S@At discount brokerage Charles Schwab & Co., such "cash-equivalent" investments recently accounted for a record $8 billion of the firm's $25 billion of client's assets.@@@@1@25@@oe@2-2-2013
21866022@unknown@formal@none@1@S@The brokers' hope has been that they could soon coax investors into shifting some of their hoard into the stock market.@@@@1@21@@oe@2-2-2013
21866023@unknown@formal@none@1@S@And before last Friday, they were actually making modest progress.@@@@1@10@@oe@2-2-2013
21866024@unknown@formal@none@1@S@A slightly higher percentage of New York Stock Exchange volume has been attributed to retail investors in recent months compared with post-crash 1988, according to Securities Industry Association data.@@@@1@29@@oe@2-2-2013
21866025@unknown@formal@none@1@S@In 1987, an average 19.7% of Big Board volume was retail business, with the monthly level never more than 21.4%.@@@@1@20@@oe@2-2-2013
21866026@unknown@formal@none@1@S@The retail participation dropped to an average 18.2% in 1988, and shriveled to barely 14% some months during the year.@@@@1@20@@oe@2-2-2013
21866027@unknown@formal@none@1@S@Yet in 1989, retail participation has been more than 20% in every month, and was 23.5% in August, the latest month for which figures are available.@@@@1@26@@oe@2-2-2013
21866028@unknown@formal@none@1@S@Jeffrey Schaefer, the SIA's research director, says that all of his group's retail-volume statistics could be overstated by as much as five percentage points because corporate buy-backs are sometimes inadvertently included in Big Board data.@@@@1@35@@oe@2-2-2013
21866029@unknown@formal@none@1@S@But there did seem to be a retail activity pickup.@@@@1@10@@oe@2-2-2013
21866030@unknown@formal@none@1@S@But "Friday didn't help things," says Mr. Schaefer.@@@@1@8@@oe@2-2-2013
21866031@unknown@formal@none@1@S@With the gyrations of recent days, says Hugo Quackenbush, senior vice president at Charles Schwab, many small investors are absolutely convinced that "they shouldn't play in the stock market."@@@@1@29@@oe@2-2-2013
21866032@unknown@formal@none@1@S@Joseph Grano, president of retail sales and marketing at PaineWebber Group Inc., still thinks that individual investors will eventually go back into the stock market.@@@@1@25@@oe@2-2-2013
21866033@unknown@formal@none@1@S@Investors will develop "thicker skins," and their confidence will return, he says.@@@@1@12@@oe@2-2-2013
21866034@unknown@formal@none@1@S@Friday's plunge, he is telling PaineWebber brokers, was nothing more than a "tremendous reaction to leveraged buy-out stocks."@@@@1@18@@oe@2-2-2013
21866035@unknown@formal@none@1@S@Meanwhile, PaineWebber remains among the leaders in efforts to simply persuade investors to keep giving Wall Street their money.@@@@1@19@@oe@2-2-2013
21866036@unknown@formal@none@1@S@"It's more of an important issue to keep control of those assets, rather than push the investor to move into (specific) products such as equities," Mr. Grano says.@@@@1@28@@oe@2-2-2013
21866037@unknown@formal@none@1@S@"The equity decision will come when the client is ready and when there's a semblance of confidence."@@@@1@17@@oe@2-2-2013
21866038@unknown@formal@none@1@S@It could be a long wait, say some industry observers.@@@@1@10@@oe@2-2-2013
21866039@unknown@formal@none@1@S@"Some investors will tiptoe back in," says Richard Ross, a market research director for Elrick & Lavidge in Chicago.@@@@1@19@@oe@2-2-2013
21866040@unknown@formal@none@1@S@"Then there'll be another swing.@@@@1@5@@oe@2-2-2013
21866041@unknown@formal@none@1@S@Given enough of these, this will drive everyone out except the most hardy," he adds.@@@@1@15@@oe@2-2-2013
21866042@unknown@formal@none@1@S@Mr. Ross, who has been studying retail investors' perception of risks in the brokerage industry, said a market plunge like Friday's "shatters investors' confidence in their ability to make any judgments on the market."@@@@1@34@@oe@2-2-2013
21866043@unknown@formal@none@1@S@The long-term outlook for the retail brokerage business is "miserable," Mr. Ross declares.@@@@1@13@@oe@2-2-2013
21867001@unknown@formal@none@1@S@The following were among yesterday's offerings and pricings in the U.S. and non-U.S. capital markets, with terms and syndicate manager, as compiled by Dow Jones Capital Markets Report:@@@@1@28@@oe@2-2-2013
21867002@unknown@formal@none@1@S@Washington, D.C. --@@@@1@3@@oe@2-2-2013
21867003@unknown@formal@none@1@S@$200 million of general obligation tax revenue anticipation notes, Series 1990, due Sept. 28, 1990.@@@@1@15@@oe@2-2-2013
21867004@unknown@formal@none@1@S@About $190 million were offered through Shearson Lehman Hutton Inc.@@@@1@10@@oe@2-2-2013
21867005@unknown@formal@none@1@S@Shearson is offering the notes as 6 3/4% securities priced to yield 6.15%.@@@@1@13@@oe@2-2-2013
21867006@unknown@formal@none@1@S@J.P. Morgan Securities Inc. is offering the remaining $10 million of notes.@@@@1@12@@oe@2-2-2013
21867007@unknown@formal@none@1@S@The notes are rated MIG-1 by Moody's Investors Service Inc.@@@@1@10@@oe@2-2-2013
21867008@unknown@formal@none@1@S@Standard & Poor's Corp. has them under review.@@@@1@8@@oe@2-2-2013
21867009@unknown@formal@none@1@S@Federal National Mortgage Association --@@@@1@5@@oe@2-2-2013
21867010@unknown@formal@none@1@S@$400 million of Remic mortgage securities being offered in 16 classes by Bear, Stearns & Co.@@@@1@16@@oe@2-2-2013
21867011@unknown@formal@none@1@S@The offering, Series 1989-83, is backed by Fannie Mae 9% securities.@@@@1@11@@oe@2-2-2013
21867012@unknown@formal@none@1@S@The offering used at-market pricing.@@@@1@5@@oe@2-2-2013
21867013@unknown@formal@none@1@S@Separately, Fannie Mae issued $400 million of Remic mortgage securities in 12 classes through First Boston Corp.@@@@1@17@@oe@2-2-2013
21867014@unknown@formal@none@1@S@The offering, Series 1989-84, is backed by Fannie Mae 9% securities.@@@@1@11@@oe@2-2-2013
21867015@unknown@formal@none@1@S@Pricing details weren't available.@@@@1@4@@oe@2-2-2013
21867016@unknown@formal@none@1@S@The two offerings bring Fannie Mae's 1989 Remic issuance to $31 billion and its total volume to $43.3 billion since the program began in April 1987.@@@@1@26@@oe@2-2-2013
21867017@unknown@formal@none@1@S@Societa per Azioni Finanziaria Industria Manaifatturiera (Italy) --@@@@1@8@@oe@2-2-2013
21867018@unknown@formal@none@1@S@$150 million of 9% depository receipts due Nov. 27, 1994, priced at 101.60 to yield 9.07% less fees, via Bankers Trust International Ltd.@@@@1@23@@oe@2-2-2013
21867019@unknown@formal@none@1@S@Fees 1 7/8.@@@@1@3@@oe@2-2-2013
21867020@unknown@formal@none@1@S@Mitsubishi Corp. Finance (Japanese parent) --@@@@1@6@@oe@2-2-2013
21867021@unknown@formal@none@1@S@$100 million of 8 5/8% bonds due Nov. 1, 1993 priced at 101 1/4 to yield 8.74% annually less full fees, via Yamaichi International (Europe) Ltd.@@@@1@26@@oe@2-2-2013
21867022@unknown@formal@none@1@S@Fees 1 5/8.@@@@1@3@@oe@2-2-2013
21867023@unknown@formal@none@1@S@Indian Oil Corp. (India) --@@@@1@5@@oe@2-2-2013
21867024@unknown@formal@none@1@S@$200 million of floating-rate notes due November 1994, paying six-month London interbank offered rate plus 3/16 point and priced at par via Credit Suisse First Boston Ltd.@@@@1@27@@oe@2-2-2013
21867025@unknown@formal@none@1@S@Guaranteed by India.@@@@1@3@@oe@2-2-2013
21867026@unknown@formal@none@1@S@Fees 0.36.@@@@1@2@@oe@2-2-2013
21867027@unknown@formal@none@1@S@Notes offered at a fixed level of 99.75.@@@@1@8@@oe@2-2-2013
21867028@unknown@formal@none@1@S@National Westminster Bank PLC (U.K.) --@@@@1@6@@oe@2-2-2013
21867029@unknown@formal@none@1@S@#200 million of undated variable-rate notes priced at par via Merill Lynch International Ltd.@@@@1@14@@oe@2-2-2013
21867030@unknown@formal@none@1@S@Initial interest rate set at 0.375 point over three-month Libor.@@@@1@10@@oe@2-2-2013
21867031@unknown@formal@none@1@S@Subsequent margins set by agreement between NatWest and Merrill.@@@@1@9@@oe@2-2-2013
21867032@unknown@formal@none@1@S@If no margin agreed, there is a fallback rate of Libor plus 0.75 point in years one to 15, and Libor plus 1.25 point thereafter.@@@@1@25@@oe@2-2-2013
21867033@unknown@formal@none@1@S@Keihin Electric Express Railway Co. (Japan) --@@@@1@7@@oe@2-2-2013
21867034@unknown@formal@none@1@S@$150 million of bonds due Nov. 9, 1993, with equity-purchase warrants, indicating a 4% coupon at par via Yamaichi International (Europe) Ltd.@@@@1@22@@oe@2-2-2013
21867035@unknown@formal@none@1@S@Each $5,000 bond carries one warrant, exercisable from Dec. 1, 1989, through Nov. 2, 1993, to buy company shares at an expected premium of 2 1/2% to the closing share price when terms are fixed Oct. 24.@@@@1@37@@oe@2-2-2013
21867036@unknown@formal@none@1@S@Seiren Co. (Japan) --@@@@1@4@@oe@2-2-2013
21867037@unknown@formal@none@1@S@110 million Swiss francs of privately placed convertible notes due March 31, 1994, with an indicated 0.25% coupon at par, via Bank Leu Ltd.@@@@1@24@@oe@2-2-2013
21867038@unknown@formal@none@1@S@Put option on March 31, 1992, at an indicated 109 to yield 3.865%.@@@@1@13@@oe@2-2-2013
21867039@unknown@formal@none@1@S@Callable on March 31, 1992, at 109, also beginning Sept. 30, 1992, from 101 1/2 and declining half a point semiannually to par.@@@@1@23@@oe@2-2-2013
21867040@unknown@formal@none@1@S@Each 50,000 Swiss franc note is convertible from Nov. 20, 1989, to March 17, 1994, at an indicated 5% premium over the closing share price Oct. 25, when terms are scheduled to be fixed.@@@@1@34@@oe@2-2-2013
21867041@unknown@formal@none@1@S@N. Nomura & Co. (Japan) --@@@@1@6@@oe@2-2-2013
21867042@unknown@formal@none@1@S@50 million Swiss francs of privately placed convertible notes due March 31, 1994, with an indicated 0.5% coupon at par, via Bank Julius Baer.@@@@1@24@@oe@2-2-2013
21867043@unknown@formal@none@1@S@Put option on March 31, 1992, at an indicated 108 1/4 to yield 3.846%.@@@@1@14@@oe@2-2-2013
21867044@unknown@formal@none@1@S@Each 50,000 Swiss franc note is convertible from Nov. 20, 1989, to March 17, 1994, at a 5% premium over the closing share price Oct. 21, when terms are scheduled to be fixed.@@@@1@33@@oe@2-2-2013
21867045@unknown@formal@none@1@S@Aegon N.V. (Netherlands) --@@@@1@4@@oe@2-2-2013
21867046@unknown@formal@none@1@S@250 million Dutch guilders of 7 3/4% bonds due Nov. 15, 1999, priced at 101 1/4 to yield 7.57% at issue price and 7.86% less full fees, via AMRO Bank.@@@@1@30@@oe@2-2-2013
21867047@unknown@formal@none@1@S@Fees 2.@@@@1@2@@oe@2-2-2013
21867048@unknown@formal@none@1@S@Continental Airlines --@@@@1@3@@oe@2-2-2013
21867049@unknown@formal@none@1@S@a four-part, $71 million issue of secured equipment certificates priced through Drexel Burnham Lambert Inc.@@@@1@15@@oe@2-2-2013
21867050@unknown@formal@none@1@S@The size of the issue was decreased from an originally planned $95.2 million.@@@@1@13@@oe@2-2-2013
21867051@unknown@formal@none@1@S@In addition, a planned two-part offering of $58 million in unsecured notes wasn't offered.@@@@1@14@@oe@2-2-2013
21867052@unknown@formal@none@1@S@The first part, consisting of $2.5 million of 11 1/4% secured equipment certificates due June 15, 1990, was priced at 98.481 with a yield to maturity of 13.75%.@@@@1@28@@oe@2-2-2013
21867053@unknown@formal@none@1@S@The second part, consisting of $28 million of 11 3/4% secured equipment certificates due June 15, 1995, was priced at 87.026 with a yield to maturity of 15.25%.@@@@1@28@@oe@2-2-2013
21867054@unknown@formal@none@1@S@The third part, consisting of $18.5 million of 12 1/8% secured equipment certificates due April 15, 1996, was priced at 85.60 with a yield to maturity of 15.75%.@@@@1@28@@oe@2-2-2013
21867055@unknown@formal@none@1@S@The fourth part, consisting of $22 million of 12 1/2% secured equipment certificates due April 15, 1999, was priced at 85.339 with a yield to maturity of 15.50%.@@@@1@28@@oe@2-2-2013
21867056@unknown@formal@none@1@S@The issue was rated single-B-2 by Moody's and single-B by S&P.@@@@1@11@@oe@2-2-2013
21867057@unknown@formal@none@1@S@All parts of the issue are callable at any time at par.@@@@1@12@@oe@2-2-2013
21867058@unknown@formal@none@1@S@Continental Airlines is a unit of Texas Air Corp.@@@@1@9@@oe@2-2-2013
21868001@unknown@formal@none@1@S@John V. Holmes, an investment-newsletter publisher, and three venture-capital firms he organized were enjoined from violating the registration provisions of the securities laws governing investment companies.@@@@1@26@@oe@2-2-2013
21868002@unknown@formal@none@1@S@As part of an agreement that settled charges brought by the Securities and Exchange Commission, a receiver was also appointed for the three venture-capital firms.@@@@1@25@@oe@2-2-2013
21868003@unknown@formal@none@1@S@Mr. Holmes was the subject of a page one profile in The Wall Street Journal in 1984, after the SEC questioned him about ties between him and companies he touted in a newsletter.@@@@1@33@@oe@2-2-2013
21868004@unknown@formal@none@1@S@In 1986, in another consent agreement with the SEC, Mr. Holmes was enjoined from violating the stock-registration and anti-fraud provisions of the securities laws.@@@@1@24@@oe@2-2-2013
21868005@unknown@formal@none@1@S@Without any admission or denial of guilt by Mr. Holmes, that agreement settled SEC charges that Mr. Holmes sold unregistered securities and misled investors.@@@@1@24@@oe@2-2-2013
21868006@unknown@formal@none@1@S@In charges filed last week in federal district court in Charlotte, N.C., the SEC alleged that Venture Capitalists Inc., Venture Finance Corp. and New Ventures Fund Inc., all of Charlotte, failed repeatedly to file proper documents.@@@@1@36@@oe@2-2-2013
21868007@unknown@formal@none@1@S@The SEC also charged that Mr. Holmes acted as an officer or director of New Ventures, in violation of his previous consent agreement.@@@@1@23@@oe@2-2-2013
21868008@unknown@formal@none@1@S@"Some companies were delinquent in filings and other actions, all of which cost money," Mr. Holmes said.@@@@1@17@@oe@2-2-2013
21868009@unknown@formal@none@1@S@Two of Mr. Holmes's business associates who worked for Venture Capitalists, Kimberly Ann Smith and Frederick Byrum, also consented to being enjoined from violations of registration provisions of the securities laws.@@@@1@31@@oe@2-2-2013
21868010@unknown@formal@none@1@S@Ms. Smith also agreed to a permanent injunction barring her from acting as an officer, director or investment adviser of any mutual fund, unit investment trust or face-amount certificate company.@@@@1@30@@oe@2-2-2013
21868011@unknown@formal@none@1@S@Mr. Byrum and Ms. Smith couldn't be reached for comment.@@@@1@10@@oe@2-2-2013
21868012@unknown@formal@none@1@S@In consenting to the injunctions, none of the individuals or companies admitted or denied the allegations.@@@@1@16@@oe@2-2-2013
21869001@unknown@formal@none@1@S@Senate Republicans have settled on a proposal that would cut the capital-gains tax for individuals and corporations.@@@@1@17@@oe@2-2-2013
21869002@unknown@formal@none@1@S@At the same time, a small group of Senate Democrats are working on a similar plan and may introduce it soon.@@@@1@21@@oe@2-2-2013
21869003@unknown@formal@none@1@S@Sen. Bob Packwood (R., Ore.), the lead sponsor of the GOP proposal, said he intends to unveil the plan today and to offer it as an amendment to whatever legislation comes along, particularly this month's bill to raise the federal borrowing limit.@@@@1@42@@oe@2-2-2013
21869004@unknown@formal@none@1@S@He gave 10-to-1 odds that a capital-gains tax cut of some sort would be approved this year, though it probably won't be included in the pending deficit-reduction bill.@@@@1@28@@oe@2-2-2013
21869005@unknown@formal@none@1@S@He added that he expects to talk to the Democrats who also wanted to cut the gains tax about drafting a joint proposal.@@@@1@23@@oe@2-2-2013
21869006@unknown@formal@none@1@S@For individuals, the Packwood plan would exclude from income 5% of the gain from the sale of a capital asset held for more than one year.@@@@1@26@@oe@2-2-2013
21869007@unknown@formal@none@1@S@The exclusion would rise five percentage points for each year the asset was held until it reached a maximum of 35%.@@@@1@21@@oe@2-2-2013
21869008@unknown@formal@none@1@S@The exclusion would apply to assets sold after Oct. 1, 1989.@@@@1@11@@oe@2-2-2013
21869009@unknown@formal@none@1@S@As an alternative, he said, taxpayers could chose to reduce their gains by an inflation index.@@@@1@16@@oe@2-2-2013
21869010@unknown@formal@none@1@S@For corporations, the top tax rate on the sale of assets held for more than three years would be cut to 33% from the current top rate of 34%.@@@@1@29@@oe@2-2-2013
21869011@unknown@formal@none@1@S@That rate would gradually decline to as little as 29% for corporate assets held for 15 years.@@@@1@17@@oe@2-2-2013
21869012@unknown@formal@none@1@S@The Packwood plan would also include a proposal, designed by Sen. William Roth (R., Del.), that would expand and alter the deduction for individual retirement accounts.@@@@1@26@@oe@2-2-2013
21869013@unknown@formal@none@1@S@The Roth plan would create a new, non-deductible IRA from which money could be withdrawn tax-free not only for retirement, but also for the purchase of a first home and to pay education and medical expenses.@@@@1@36@@oe@2-2-2013
21869014@unknown@formal@none@1@S@Current IRAs could be rolled over into the new IRAs but would be subject to tax.@@@@1@16@@oe@2-2-2013
21869015@unknown@formal@none@1@S@For their part, the group of Democrats are working on a plan that, like the Packwood proposal, would grant larger exclusions to assets the longer they were held by individuals and companies.@@@@1@32@@oe@2-2-2013
21869016@unknown@formal@none@1@S@Newly acquired assets would get a bigger break than those currently held.@@@@1@12@@oe@2-2-2013
21869017@unknown@formal@none@1@S@An extra exclusion would be given to long-held stock in small and medium-size corporations just starting up.@@@@1@17@@oe@2-2-2013
21869018@unknown@formal@none@1@S@No one in the Senate is considering the capital-gains plan passed by the House.@@@@1@14@@oe@2-2-2013
21869019@unknown@formal@none@1@S@That plan would provide a 30% exclusion to assets sold over a 2 1/2-year period ending Dec. 31, 1991.@@@@1@19@@oe@2-2-2013
21869020@unknown@formal@none@1@S@After then, the House measure would boost the tax rate to 28% and exclude from tax the gain attributable to inflation.@@@@1@21@@oe@2-2-2013
21869021@unknown@formal@none@1@S@Senators are focusing on making a capital-gains differential permanent.@@@@1@9@@oe@2-2-2013
21869022@unknown@formal@none@1@S@Separately, Chairman Dan Rostenkowski (D., Ill.) of the House Ways and Means Committee said he didn't want the capital-gains tax cut or any other amendments attached to the pending bill raising the federal borrowing limit.@@@@1@35@@oe@2-2-2013
21869023@unknown@formal@none@1@S@The current debt limit expires Oct. 31.@@@@1@7@@oe@2-2-2013
21869024@unknown@formal@none@1@S@He also urged House and Senate negotiators to rid the deficit-reduction bill of all provisions that increase the budget deficit, including the House-passed capital-gains provision.@@@@1@25@@oe@2-2-2013
21870001@unknown@formal@none@1@S@From a helicopter a thousand feet above Oakland after the second-deadliest earthquake in U.S. history, a scene of devastation emerges: a freeway crumbled into a concrete sandwich, hoses pumping water into once-fashionable apartments, abandoned autos.@@@@1@35@@oe@2-2-2013
21870002@unknown@formal@none@1@S@But this quake wasn't the big one, the replay of 1906 that has been feared for so many years.@@@@1@19@@oe@2-2-2013
21870003@unknown@formal@none@1@S@Despite the tragic loss of more than 270 lives, and damage estimated in the billions, most businesses and their plants and offices in the Bay area weren't greatly affected.@@@@1@29@@oe@2-2-2013
21870004@unknown@formal@none@1@S@The economic life of the region is expected to revive in a day or two, although some transportation problems may last weeks or months.@@@@1@24@@oe@2-2-2013
21870005@unknown@formal@none@1@S@A main factor mitigating more widespread damage was the location of the quake's epicenter -- 20 miles from the heart of the Silicon Valley and more than 50 miles from downtown San Francisco and Oakland.@@@@1@35@@oe@2-2-2013
21870006@unknown@formal@none@1@S@Also, the region's insistence on strict building codes helped prevent wider damage.@@@@1@12@@oe@2-2-2013
21870007@unknown@formal@none@1@S@The tremendous energy of the quake was dissipated by the distance, so that most parts of the valley and the major cities suffered largely cosmetic damage -- broken windows, falling brick and cornices, buckled asphalt or sidewalks.@@@@1@37@@oe@2-2-2013
21870008@unknown@formal@none@1@S@Of course, the quake was the worst since the emergence of the computer era turned Silicon Valley into the nation's capital of high technology.@@@@1@24@@oe@2-2-2013
21870009@unknown@formal@none@1@S@Like other major American cities, the San Francisco -- Oakland area owes its current prosperity more to its infrastructure of fiber-optic cables linking thousands of computer terminals and telephones than to its location astride one of the world's great natural harbors.@@@@1@41@@oe@2-2-2013
21870010@unknown@formal@none@1@S@When the tremors struck, the region's largely unseen high-tech fabric held up surprisingly well despite the devastation visible from the air.@@@@1@21@@oe@2-2-2013
21870011@unknown@formal@none@1@S@Michael L. Bandler, vice president for network technology at Pacific Bell Telephone Co., says nearly all the network's computer switches, which move thousands of calls a minute from one location to another, changed to battery power when the city lost power.@@@@1@41@@oe@2-2-2013
21870012@unknown@formal@none@1@S@The battery packs have enough power for only three hours, but that gave emergency crews time to turn on an emergency system that runs primarily on diesel fuel.@@@@1@28@@oe@2-2-2013
21870013@unknown@formal@none@1@S@Of some 160 switches in Pacific Bell's network, only four went down.@@@@1@12@@oe@2-2-2013
21870014@unknown@formal@none@1@S@One of those was in Hollister, Calif., near the earthquake's epicenter.@@@@1@11@@oe@2-2-2013
21870015@unknown@formal@none@1@S@Few telephone lines snapped.@@@@1@4@@oe@2-2-2013
21870016@unknown@formal@none@1@S@That's because the widely used fiber-optic cable has been installed underground with 25 extra feet of cable between junction points.@@@@1@20@@oe@2-2-2013
21870017@unknown@formal@none@1@S@The slack absorbs the pulling strain generated by an earthquake.@@@@1@10@@oe@2-2-2013
21870018@unknown@formal@none@1@S@Nevertheless, phone service was sporadic; many computer terminals remained dark, and by late yesterday a third of San Francisco remained without power.@@@@1@22@@oe@2-2-2013
21870019@unknown@formal@none@1@S@Business in the nation's fourth-largest metropolitan region was nearly paralyzed; an estimated one million members of the work force stayed at home.@@@@1@22@@oe@2-2-2013
21870020@unknown@formal@none@1@S@The economic dislocation was as abrupt as the earthquake itself, as virtually all businesses shut down.@@@@1@16@@oe@2-2-2013
21870021@unknown@formal@none@1@S@The $125-billion-a-year Bay area economy represents one-fourth of the economy of the nation's most populous state and accounts for 2% to 3% of the nation's total output of goods and services, according to the Center for Continuing Study of the California Economy in Palo Alto.@@@@1@45@@oe@2-2-2013
21870022@unknown@formal@none@1@S@In high-tech, the Bay area accounts for 15% to 20% of the U.S. computer-related industry.@@@@1@15@@oe@2-2-2013
21870023@unknown@formal@none@1@S@"This has been a major disruption for the Bay area economy," says Pauline Sweezey, the chief economist at the California Department of Finance.@@@@1@23@@oe@2-2-2013
21870024@unknown@formal@none@1@S@"Obviously, things are going to have to go on hold for many companies."@@@@1@13@@oe@2-2-2013
21870025@unknown@formal@none@1@S@The damage to the Bay area's roadways could cause significant economic hardship.@@@@1@12@@oe@2-2-2013
21870026@unknown@formal@none@1@S@A quarter of a million people cross the Bay Bridge every day, far more than the 100,000 that use the Bay Area Rapid Transit system (BART) -- which was working but wasn't stopping in the city's Financial District yesterday afternoon because electricity was shut off and the area was being checked for gas leaks.@@@@1@54@@oe@2-2-2013
21870027@unknown@formal@none@1@S@California state transportation officials interviewed by telephone say they nevertheless don't expect serious problems for commerce in and out of the Bay area.@@@@1@23@@oe@2-2-2013
21870028@unknown@formal@none@1@S@All major roadways except Interstate 880, known as the Nimitz Freeway, and the Bay Bridge were open by 1 p.m. yesterday.@@@@1@21@@oe@2-2-2013
21870029@unknown@formal@none@1@S@Officials expect difficulty routing traffic through downtown San Francisco.@@@@1@9@@oe@2-2-2013
21870030@unknown@formal@none@1@S@The earthquake caused many streets to buckle and crack, making them impassible.@@@@1@12@@oe@2-2-2013
21870031@unknown@formal@none@1@S@Other roads were obstructed by collapsed buildings and damaged water and power lines, an emergency relief spokesman says.@@@@1@18@@oe@2-2-2013
21870032@unknown@formal@none@1@S@San Francisco Mayor Art Agnos estimated the damage to his city alone at $2 billion.@@@@1@15@@oe@2-2-2013
21870033@unknown@formal@none@1@S@But many predicted that the commercial disruption would be short-lived.@@@@1@10@@oe@2-2-2013
21870034@unknown@formal@none@1@S@Of the scores of companies contacted by this newspaper, few reported any damage that they didn't expect to have remedied within a day or two.@@@@1@25@@oe@2-2-2013
21870035@unknown@formal@none@1@S@It is possible, of course, that some of the most seriously damaged companies couldn't be reached, particularly in areas nearest the epicenter.@@@@1@22@@oe@2-2-2013
21870036@unknown@formal@none@1@S@Typical, perhaps, was the situation at New United Motor Manufacturing Inc., the General Motors Corp.-Toyota joint-venture auto plant in Fremont, about 35 miles south of Oakland.@@@@1@26@@oe@2-2-2013
21870037@unknown@formal@none@1@S@Ten of the plant's workers were injured when the quake hit about a half-hour into the afternoon shift; seven were hospitalized.@@@@1@21@@oe@2-2-2013
21870038@unknown@formal@none@1@S@Metal racks on the plant floor fell over, and water mains ruptured, a spokeswoman says.@@@@1@15@@oe@2-2-2013
21870039@unknown@formal@none@1@S@The plant was evacuated and workers sent home.@@@@1@8@@oe@2-2-2013
21870040@unknown@formal@none@1@S@But the plant was able to resume limited production of its Toyota Corollas and Geo Prizms by 6 a.m. yesterday, and absenteeism was only 7% of the work force, about twice normal.@@@@1@32@@oe@2-2-2013
21870041@unknown@formal@none@1@S@Computer maker Hewlett-Packard Co., based in Palo Alto, says one of its buildings sustained severe damage when it was knocked off its foundation.@@@@1@23@@oe@2-2-2013
21870042@unknown@formal@none@1@S@Other buildings had broken glass, dangling light fixtures and broken pipes, a spokesperson says, estimating the cost of reconstruction "in the millions."@@@@1@22@@oe@2-2-2013
21870043@unknown@formal@none@1@S@Most banks were closed but were expected to reopen today with few problems anticipated.@@@@1@14@@oe@2-2-2013
21870044@unknown@formal@none@1@S@At the Federal Reserve Bank of San Francisco, Vice President Robert Fienberg says operations were "steaming along as usual" yesterday afternoon.@@@@1@21@@oe@2-2-2013
21870045@unknown@formal@none@1@S@`When the quake hit, we turned on our emergency generator and brought our computers up," he says.@@@@1@17@@oe@2-2-2013
21870046@unknown@formal@none@1@S@The Fed serves as a middleman for banks, taking checks from one bank and sending them to another, an operation that it handled smoothly Tuesday night after the quake.@@@@1@29@@oe@2-2-2013
21870047@unknown@formal@none@1@S@"The volume we received from the banks was a lot lower than usual," he says.@@@@1@15@@oe@2-2-2013
21870048@unknown@formal@none@1@S@A disaster-contingency plan in which the Los Angeles Fed would come to San Francisco's aid wasn't needed, he adds.@@@@1@19@@oe@2-2-2013
21870049@unknown@formal@none@1@S@Most of the telephone problems in the immediate aftermath stemmed from congestion.@@@@1@12@@oe@2-2-2013
21870050@unknown@formal@none@1@S@The telephone network simply couldn't handle the large number of people seeking to make a call at the same time.@@@@1@20@@oe@2-2-2013
21870051@unknown@formal@none@1@S@The volume resulted in dial-tone delays that were as short as 15 seconds and as long as five minutes.@@@@1@19@@oe@2-2-2013
21870052@unknown@formal@none@1@S@Mr. Bandler puts traffic volume at 10 to 50 times normal.@@@@1@11@@oe@2-2-2013
21870053@unknown@formal@none@1@S@American Telephone & Telegraph Co., MCI Communications Inc. and United Telecommunications' U S Sprint unit were blocking phone calls into the Bay area to alleviate congestion.@@@@1@26@@oe@2-2-2013
21870054@unknown@formal@none@1@S@The companies block traffic much as highway on-ramps are blocked when traffic backs up.@@@@1@14@@oe@2-2-2013
21870055@unknown@formal@none@1@S@William E. Downing, Pacific Bell's vice president of customer services for the Bay area, says most long-distance companies were blocking about 50% of all calls.@@@@1@25@@oe@2-2-2013
21870056@unknown@formal@none@1@S@Pacific Telesis says its Pacific Bell unit also was blocking about 50% of its calls locally.@@@@1@16@@oe@2-2-2013
21870057@unknown@formal@none@1@S@Ironically, the long-term effect of the earthquake may be to bolster the Bay area's economic fortunes and, indeed, the nation's gross national product.@@@@1@23@@oe@2-2-2013
21870058@unknown@formal@none@1@S@It may also lead to new safeguards in major construction projects such as double-deck highways.@@@@1@15@@oe@2-2-2013
21870059@unknown@formal@none@1@S@"It would in the near-term give a boost to the San Francisco economy because there will be an influx of people to help," says Beth Burnham Mace, a regional economist at DRI/McGraw Hill, a Lexington, Mass., forecasting firm.@@@@1@38@@oe@2-2-2013
21870060@unknown@formal@none@1@S@The construction industry is sure to feel increased demand.@@@@1@9@@oe@2-2-2013
21870061@unknown@formal@none@1@S@"There will be a big influx of federal dollars and gains in state, federal and local employment," Ms. Mace says.@@@@1@20@@oe@2-2-2013
21870062@unknown@formal@none@1@S@Adds Stacy Kotman, an economist at Georgia State University, "There's nothing positive about an earthquake, but it will probably generate more construction activity."@@@@1@23@@oe@2-2-2013
21870063@unknown@formal@none@1@S@Wall Street reacted swiftly yesterday to the disaster by bidding up stocks of construction and related companies.@@@@1@17@@oe@2-2-2013
21870064@unknown@formal@none@1@S@Shares of Lone Star Industries Inc., a cement maker, rose sharply in anticipation of stepped-up demand.@@@@1@16@@oe@2-2-2013
21870065@unknown@formal@none@1@S@In Greenwich, Conn., Lone Star spokesman Michael London says, "Obviously with an earthquake of this size, there are likely to be construction projects that wouldn't otherwise have been anticipated.@@@@1@29@@oe@2-2-2013
21870066@unknown@formal@none@1@S@But any increase isn't likely to be any kind of a surge.@@@@1@12@@oe@2-2-2013
21870067@unknown@formal@none@1@S@It's something likely to be spread out over a long period of time.@@@@1@13@@oe@2-2-2013
21870068@unknown@formal@none@1@S@There will be a lot of repair work that won't require the quantities of cement or concrete that new constructon would."@@@@1@21@@oe@2-2-2013
21870069@unknown@formal@none@1@S@Lone Star's San Francisco facilities weren't damaged in the quake.@@@@1@10@@oe@2-2-2013
21870070@unknown@formal@none@1@S@The earthquake is likely to reduce GNP negligibly in the near term and then could raise it a bit as rebuilding begins.@@@@1@22@@oe@2-2-2013
21870071@unknown@formal@none@1@S@The first effects are, of course, negative as work is disrupted and people lose income and cut spending.@@@@1@18@@oe@2-2-2013
21870072@unknown@formal@none@1@S@Corporate profits may also dip initially.@@@@1@6@@oe@2-2-2013
21870073@unknown@formal@none@1@S@Many of the lost tourism dollars won't be recovered; many trips delayed never take place.@@@@1@15@@oe@2-2-2013
21870074@unknown@formal@none@1@S@Subsequently, however, the ill effects are likely to be offset, at least in economic terms, as construction activity begins.@@@@1@19@@oe@2-2-2013
21870075@unknown@formal@none@1@S@Because of the way the government keeps its books, the damage to the Bay Bridge, however costly, won't be counted as a minus.@@@@1@23@@oe@2-2-2013
21870076@unknown@formal@none@1@S@The money spent on repairs will be counted as a plus.@@@@1@11@@oe@2-2-2013
21870077@unknown@formal@none@1@S@"It's very difficult to model the long-term impact of this," says Andrew Goldberg, who studies the public-policy and crisis-management aspects of earthquakes at the Center for Strategic International Studies in Washington, D.C.@@@@1@32@@oe@2-2-2013
21870078@unknown@formal@none@1@S@"You certainly can say it's going to be extremely severe.@@@@1@10@@oe@2-2-2013
21870079@unknown@formal@none@1@S@We really are talking about shutting down a major American city for a number of days, maybe for a few weeks."@@@@1@21@@oe@2-2-2013
21870080@unknown@formal@none@1@S@Mr. Goldberg says the cost of the earthquake will definitely top $1 billion and could reach $4 billion.@@@@1@18@@oe@2-2-2013
21870081@unknown@formal@none@1@S@He cautions that early damage estimates are often low; the damage totals in Hurricane Hugo increased tenfold as more information was received.@@@@1@22@@oe@2-2-2013
21870082@unknown@formal@none@1@S@The earthquake damage, of course, would have been far greater if the epicenter had been in downtown San Francisco.@@@@1@19@@oe@2-2-2013
21870083@unknown@formal@none@1@S@A direct hit on a major city, Mr. Goldberg figures, would cause $20 billion to $40 billion of damage.@@@@1@19@@oe@2-2-2013
21870084@unknown@formal@none@1@S@Experts caution that it is far too soon for reliable estimates of the quake's total damage, but it's clear that insurers are likely to pay out enormous sums.@@@@1@28@@oe@2-2-2013
21870085@unknown@formal@none@1@S@Jack Byrne, the chairman of Fireman's Fund Corp., which is based in Novato, Calif., estimates insured losses resulting the earthquake could total $2 billion.@@@@1@24@@oe@2-2-2013
21870086@unknown@formal@none@1@S@The impact on the insurance industry "will be big and harsh, but less than {Hurricane} Hugo," says Mr. Byrne, who toured the Bay area by car yesterday afternoon to get a sense of the company's exposure to the earthquake.@@@@1@39@@oe@2-2-2013
21870087@unknown@formal@none@1@S@Mr. Byrne says Fireman's Fund will probably pay hundreds of millions in primary claims, but, after taxes and use of its reinsurance lines, the company's fourthquarter charge against earnings shouldn't top $50 million.@@@@1@33@@oe@2-2-2013
21870088@unknown@formal@none@1@S@The company was able to assess its damage liability quickly because it has computerized maps of Northern California showing the exact locations of all the property it insures.@@@@1@28@@oe@2-2-2013
21870089@unknown@formal@none@1@S@Fireman's Fund had claims adjusters on the streets of San Francisco right after sunrise yesterday and was paying as many claims as it could right on the spot.@@@@1@28@@oe@2-2-2013
21870090@unknown@formal@none@1@S@Fireman's Fund insures 37,300 homes and autos and 35,000 businesses in the Bay area.@@@@1@14@@oe@2-2-2013
21870091@unknown@formal@none@1@S@In addition to paying for earthquake and fire damage, the insurer must cover worker-compensation claims and also losses due to businesses being shut down by lack of power or phone service.@@@@1@31@@oe@2-2-2013
21870092@unknown@formal@none@1@S@But many Californians may not have adequate insurance coverage to pay for damages to their property.@@@@1@16@@oe@2-2-2013
21870093@unknown@formal@none@1@S@The Independent Insurance Agents of America says fewer than one of every five California homeowners has earthquake insurance.@@@@1@18@@oe@2-2-2013
21870094@unknown@formal@none@1@S@A somewhat higher percentage of people living in the Bay area have bought the additional insurance protection, but the great majority aren't covered.@@@@1@23@@oe@2-2-2013
21870095@unknown@formal@none@1@S@Earthquake insurance typically runs $200 or more a year for a small house.@@@@1@13@@oe@2-2-2013
21870096@unknown@formal@none@1@S@Whatever the long-term economic effect, the scene from the helicopter above Oakland is one of tragedy.@@@@1@16@@oe@2-2-2013
21870097@unknown@formal@none@1@S@Gargantuan sections of a double-decker freeway have been heaved about like plastic building blocks.@@@@1@14@@oe@2-2-2013
21870098@unknown@formal@none@1@S@Atop them sit cars and trucks abandoned in a terrifying scramble to safety the day before.@@@@1@16@@oe@2-2-2013
21870099@unknown@formal@none@1@S@In areas where the freeway made giant concrete sandwiches of itself lie cars that police say have been flattened into foot-thick slabs.@@@@1@22@@oe@2-2-2013
21870100@unknown@formal@none@1@S@On the periphery, rescue workers seem, from the air, to move in slow motion.@@@@1@14@@oe@2-2-2013
21870101@unknown@formal@none@1@S@They peck away at the 1 1/2-mile section of rubble, searching for more of the 250 people thought to have died here.@@@@1@22@@oe@2-2-2013
21870102@unknown@formal@none@1@S@About 20 other deaths were also attributed to the earthquake.@@@@1@10@@oe@2-2-2013
21870103@unknown@formal@none@1@S@The heart of the earthquake, 6.9 on the Richter scale, was 50 miles to the south, near Santa Cruz, but its terrible fist struck here on the Nimitz Freeway, a major artery serving the Bay Bridge between Oakland and San Francisco.@@@@1@41@@oe@2-2-2013
21870104@unknown@formal@none@1@S@Along the way, the quake toppled a mall in Santa Cruz, knocked down buildings in San Francisco's fashionable Marina District and sent a wall of bricks crashing on motorists in the city's Financial District.@@@@1@34@@oe@2-2-2013
21870105@unknown@formal@none@1@S@Just a short span across the bay to the west, the quake also showed its mettle: A four-square-block area of the Marina District lies smoldering under a steady stream of seawater being pumped onto rubble to prevent it from blazing anew.@@@@1@41@@oe@2-2-2013
21870106@unknown@formal@none@1@S@Many of the buildings, mostly condominiums and apartments, were flattened almost instantly as the underlying soil -- much of it landfill -- was literally turned to ooze by the quake's intensive shaking, rupturing gas lines.@@@@1@35@@oe@2-2-2013
21870107@unknown@formal@none@1@S@Onlookers say three persons died when one of the buildings exploded into a fireball shortly after the quake struck.@@@@1@19@@oe@2-2-2013
21870108@unknown@formal@none@1@S@Efforts to fight the blaze were hampered because water mains were severed as well.@@@@1@14@@oe@2-2-2013
21870109@unknown@formal@none@1@S@From the air, ribbons of yellow fire hose carry water from the bay to high-pressure nozzles trained on the site.@@@@1@20@@oe@2-2-2013
21870110@unknown@formal@none@1@S@As onlookers stand behind barricades, helmeted firemen and building inspectors survey rows of nearby buildings that were twisted from their foundations and seem on the verge of collapse.@@@@1@28@@oe@2-2-2013
21870111@unknown@formal@none@1@S@In the Marina District, residents spent yesterday assessing damage, cleaning up and trying to find friends and neighbors.@@@@1@18@@oe@2-2-2013
21870112@unknown@formal@none@1@S@Evelyn Boccone, 85 years old, has lived in the district most of her life.@@@@1@14@@oe@2-2-2013
21870113@unknown@formal@none@1@S@Her parents lost everything in the 1906 earthquake.@@@@1@8@@oe@2-2-2013
21870114@unknown@formal@none@1@S@"Now, we realize what our mothers must have gone through," she says.@@@@1@12@@oe@2-2-2013
21870115@unknown@formal@none@1@S@"We always heard about the earthquake, but as children we didn't always listen.@@@@1@13@@oe@2-2-2013
21871001@unknown@formal@none@1@S@PRINCE HENRI is the crown prince and hereditary grand duke of Luxembourg.@@@@1@12@@oe@2-2-2013
21871002@unknown@formal@none@1@S@An article in the World Business Report of Sept. 22 editions incorrectly referred to his father, Grand Duke Jean, as the crown prince.@@@@1@23@@oe@2-2-2013
21872001@unknown@formal@none@1@S@Resolution Funding Corp. plans to sell $4.5 billion of 30-year bonds Wednesday in the agency's first sale of securities.@@@@1@19@@oe@2-2-2013
21872002@unknown@formal@none@1@S@The new bonds will be dated Oct. 30 and mature Oct. 15, 2019.@@@@1@13@@oe@2-2-2013
21872003@unknown@formal@none@1@S@Tenders for the bonds, available in minimum denominations of $1,000, must be received by 1 p.m. EDT Wednesday at Federal Reserve banks.@@@@1@22@@oe@2-2-2013
21872004@unknown@formal@none@1@S@Refcorp, created by the thrift-overhaul law enacted in August, will use the proceeds to merge or sell off ailing savings-and-loan institutions.@@@@1@21@@oe@2-2-2013
21872005@unknown@formal@none@1@S@Congress authorized $50 billion to be borrowed to pay for the thrift bailout.@@@@1@13@@oe@2-2-2013
21872006@unknown@formal@none@1@S@Of that amount, $20 billion has already been borrowed by the Treasury Department.@@@@1@13@@oe@2-2-2013
21872007@unknown@formal@none@1@S@Unless otherwise specified in a particular offer, the bonds won't be subject to redemption prior to maturity.@@@@1@17@@oe@2-2-2013
21872008@unknown@formal@none@1@S@Interest payments on the bonds will be payable semiannually.@@@@1@9@@oe@2-2-2013
21872009@unknown@formal@none@1@S@The bonds are subject to federal taxation in the U.S., including income taxes.@@@@1@13@@oe@2-2-2013
21872010@unknown@formal@none@1@S@At the state and local level, the bonds are subject to surtaxes and estate, inheritance and gift taxes, but exempt from taxation as to principal and interest.@@@@1@27@@oe@2-2-2013
21873001@unknown@formal@none@1@S@G.D. Searle & Co., a Monsanto Co. unit, is launching a program to give consumers more information about its drugs when doctors prescribe them.@@@@1@24@@oe@2-2-2013
21873002@unknown@formal@none@1@S@Called Patients in the Know, the program features fact sheets designed to be easy to understand.@@@@1@16@@oe@2-2-2013
21873003@unknown@formal@none@1@S@The sheets tell how the medicine works, describe how to use it and list its possible side effects.@@@@1@18@@oe@2-2-2013
21873004@unknown@formal@none@1@S@They are designed to be given to patients by their doctors when the medicines are prescribed and include space for the doctor to write special instructions.@@@@1@26@@oe@2-2-2013
21873005@unknown@formal@none@1@S@In addition, Searle will give pharmacists brochures on the use of prescription drugs for distribution in their stores.@@@@1@18@@oe@2-2-2013
21873006@unknown@formal@none@1@S@Consumer groups have long advocated that drug companies and doctors make more information available to patients.@@@@1@16@@oe@2-2-2013
21873007@unknown@formal@none@1@S@"We believe that every drug that's marketed to a consumer should have a consumer label," said Douglas Teich of the Public Citizen Health Research Group, a Ralph Nader affiliate.@@@@1@29@@oe@2-2-2013
21873008@unknown@formal@none@1@S@Dr. Teich said Searle is "the only company I know that voluntarily" will make consumer information available.@@@@1@17@@oe@2-2-2013
21873009@unknown@formal@none@1@S@According to federal officials and drug-industry studies, nearly half of the 1.6 billion prescriptions filled each year aren't used properly, meaning that money is wasted on some prescriptions and patients are deprived of the benefits of medication.@@@@1@37@@oe@2-2-2013
21873010@unknown@formal@none@1@S@"We think it's very important to provide as much information as possible on the drugs consumers take," said Searle Chairman Sheldon Gilgore.@@@@1@22@@oe@2-2-2013
21874001@unknown@formal@none@1@S@Bond prices rambled yesterday as investors kept close watch on the stock market and worried about a wave of new supply.@@@@1@21@@oe@2-2-2013
21874002@unknown@formal@none@1@S@Early yesterday, bonds rose as investors rushed to buy Treasury securities on the prospect that stocks would plummet in the aftermath of the massive California earthquake.@@@@1@26@@oe@2-2-2013
21874003@unknown@formal@none@1@S@For example, some securities analysts warned that stocks of certain insurance companies, which face massive damage claims, would get hit hard.@@@@1@21@@oe@2-2-2013
21874004@unknown@formal@none@1@S@But when the Dow Jones Industrial Average rose instead, bonds drifted lower.@@@@1@12@@oe@2-2-2013
21874005@unknown@formal@none@1@S@With stocks not a major focus, "we're waiting for the next guiding light," said Brian J. Fabbri, chief economist at Midland Montagu Securities Inc.@@@@1@24@@oe@2-2-2013
21874006@unknown@formal@none@1@S@"If the stock market tremors are behind us, then the bond market will go back to looking at the next batch of economic numbers to determine" where interest rates are heading.@@@@1@31@@oe@2-2-2013
21874007@unknown@formal@none@1@S@The Treasury's benchmark 30-year bond, which jumped 3/8 point, or about $3.75 for each $1,000 face amount, during the first hour of trading, ended little changed.@@@@1@26@@oe@2-2-2013
21874008@unknown@formal@none@1@S@Interest rates barely budged from Tuesday's levels.@@@@1@7@@oe@2-2-2013
21874009@unknown@formal@none@1@S@Most junk bonds, which have been battered in recent weeks, continued a slow recuperation and ended unchanged to slightly higher.@@@@1@20@@oe@2-2-2013
21874010@unknown@formal@none@1@S@But some so-called high-quality junk issues fell as some mutual funds sold their most liquid issues to raise cash.@@@@1@19@@oe@2-2-2013
21874011@unknown@formal@none@1@S@RJR Holdings Capital Corp.'s 14.7% bonds due 2009 fell one point.@@@@1@11@@oe@2-2-2013
21874012@unknown@formal@none@1@S@Other RJR issues fell between 1/2 point and 1 1/2 point.@@@@1@11@@oe@2-2-2013
21874013@unknown@formal@none@1@S@In the latest sign of how difficult it is to place certain junk bonds, Continental Airlines said it was forced to scale back the size of its latest offering.@@@@1@29@@oe@2-2-2013
21874014@unknown@formal@none@1@S@Continental, a unit of Texas Air Corp., slashed the size of its note offering from $150 million to $71 million.@@@@1@20@@oe@2-2-2013
21874015@unknown@formal@none@1@S@The move had been widely expected.@@@@1@6@@oe@2-2-2013
21874016@unknown@formal@none@1@S@In the multipart offering, the company sold a portion of secured notes but shelved all the unsecured notes.@@@@1@18@@oe@2-2-2013
21874017@unknown@formal@none@1@S@A Continental spokeswoman said the notes may be offered at a later date.@@@@1@13@@oe@2-2-2013
21874018@unknown@formal@none@1@S@"This was not a do-or-die deal," she said.@@@@1@8@@oe@2-2-2013
21874019@unknown@formal@none@1@S@"I think this is a market that required some level of security.@@@@1@12@@oe@2-2-2013
21874020@unknown@formal@none@1@S@It did not make sense to offer unsecured paper in an unsettling market."@@@@1@13@@oe@2-2-2013
21874021@unknown@formal@none@1@S@Investors have been speculating for weeks about the market's ability to place the $7 billion to $10 billion of new junk bonds scheduled to be sold by year end.@@@@1@29@@oe@2-2-2013
21874022@unknown@formal@none@1@S@Supply troubles were also on the minds of Treasury investors yesterday, who worried about the flood of new government securities coming next week.@@@@1@23@@oe@2-2-2013
21874023@unknown@formal@none@1@S@"We're being bombarded by new Treasury and agency debt offerings," said William Sullivan Jr., director of money-market research at Dean Witter Reynolds Inc.@@@@1@23@@oe@2-2-2013
21874024@unknown@formal@none@1@S@"The market is concerned about its ability to underwrite all this debt at current levels."@@@@1@15@@oe@2-2-2013
21874025@unknown@formal@none@1@S@In addition to the $15.6 billion of Treasury bills to be sold at next week's regular Monday auction, the government will sell $10 billion of new two-year Treasury notes.@@@@1@29@@oe@2-2-2013
21874026@unknown@formal@none@1@S@And Resolution Funding Corp. said late yesterday that it will sell $4.5 billion of 30-year bonds Wednesday.@@@@1@17@@oe@2-2-2013
21874027@unknown@formal@none@1@S@Refcorp is the financing unit of Resolution Trust Corp., a new government agency created to rescue the nation's troubled thrifts.@@@@1@20@@oe@2-2-2013
21874028@unknown@formal@none@1@S@Its securities have been dubbed "bailout bonds" by traders.@@@@1@9@@oe@2-2-2013
21874029@unknown@formal@none@1@S@In when-issued trading, the two-year Treasurys had a yield of about 7.88%.@@@@1@12@@oe@2-2-2013
21874030@unknown@formal@none@1@S@In the municipal market, all eyes were on California debt as investors tried to gauge the financial ramifications of Tuesday's earthquake.@@@@1@21@@oe@2-2-2013
21874031@unknown@formal@none@1@S@But traders said the quake had only a minor impact on the trading of California state and local municipal debt.@@@@1@20@@oe@2-2-2013
21874032@unknown@formal@none@1@S@"There are certain bonds traders refer to as `earthquake' bonds because the (issuers) are on top of the San Andreas fault," said Zane Mann, editor of the California Municipal Bond Advisor, a newsletter for investors.@@@@1@35@@oe@2-2-2013
21874033@unknown@formal@none@1@S@Since those bonds already pay a slightly higher yield, an extra premium for the earthquake risk, they weren't materially affected.@@@@1@20@@oe@2-2-2013
21874034@unknown@formal@none@1@S@But some bond market analysts said that could quickly change if property casualty insurance companies scramble to sell portions of their municipal portfolios to raise cash to pay damage claims.@@@@1@30@@oe@2-2-2013
21874035@unknown@formal@none@1@S@"Insurance companies will foot a substantial amount of the bill to reconstruct San Francisco," said Charles Lieberman, chief economist at Manufacturers Hanover Securities Corp.@@@@1@24@@oe@2-2-2013
21874036@unknown@formal@none@1@S@He also expects the performance of municipals to lag Treasurys as California is forced to issue new debt over time to repair public facilities.@@@@1@24@@oe@2-2-2013
21874037@unknown@formal@none@1@S@A report issued late yesterday by Standard & Poor's Corp. concluded the quake won't cause "wide-scale credit deterioration" for issuers and debt issues in the 12-county area of Northern California affected by the quake.@@@@1@34@@oe@2-2-2013
21874038@unknown@formal@none@1@S@Treasury Securities@@@@1@2@@oe@2-2-2013
21874039@unknown@formal@none@1@S@Treasury bonds ended narrowly mixed in quiet trading.@@@@1@8@@oe@2-2-2013
21874040@unknown@formal@none@1@S@The benchmark 30-year bond ended at a price of 100 29/32 to yield 8.03%, compared with 100 28/32 to yield 8.04% Tuesday.@@@@1@22@@oe@2-2-2013
21874041@unknown@formal@none@1@S@The latest 10-year notes were quoted late at a price of 99 26/32 to yield 8%, compared with 99 25/32 to yield 8.01%.@@@@1@23@@oe@2-2-2013
21874042@unknown@formal@none@1@S@Short-term rates were little changed.@@@@1@5@@oe@2-2-2013
21874043@unknown@formal@none@1@S@Corporate Issues@@@@1@2@@oe@2-2-2013
21874044@unknown@formal@none@1@S@Investment-grade corporate bonds ended 1/4 point lower.@@@@1@7@@oe@2-2-2013
21874045@unknown@formal@none@1@S@The Continental junk bond offering, underwritten by Drexel Burnham Lambert Inc., was the only new issue priced yesterday.@@@@1@18@@oe@2-2-2013
21874046@unknown@formal@none@1@S@In the four-part offering, the $71 million of secured equipment certificates was priced to yield 13.75% to 15.75%.@@@@1@18@@oe@2-2-2013
21874047@unknown@formal@none@1@S@Municipals@@@@1@1@@oe@2-2-2013
21874048@unknown@formal@none@1@S@Municipal bonds ended about 1/8 to 3/8 point lower, hurt by the circulation of two "bid-wanted" lists totaling $655 million.@@@@1@20@@oe@2-2-2013
21874049@unknown@formal@none@1@S@Chemical Securities Inc. is acting as agent for the seller.@@@@1@10@@oe@2-2-2013
21874050@unknown@formal@none@1@S@Meanwhile, some California issues were down a touch more than the broad market, but traders said there hadn't been much investor selling because of the quake.@@@@1@26@@oe@2-2-2013
21874051@unknown@formal@none@1@S@But New York City general obligation bonds came under selling pressure.@@@@1@11@@oe@2-2-2013
21874052@unknown@formal@none@1@S@Traders said a steady stream of bonds was put up for sale yesterday, pushing yields for longer maturities up 0.05 percentage point.@@@@1@22@@oe@2-2-2013
21874053@unknown@formal@none@1@S@Traders said investors were reacting to recent negative news on the city's finances and are nervous ahead of the Nov. 7 election.@@@@1@22@@oe@2-2-2013
21874054@unknown@formal@none@1@S@Washington, D.C., topped the competitive slate yesterday with a sale of $200 million of general obligation tax revenue anticipation notes.@@@@1@20@@oe@2-2-2013
21874055@unknown@formal@none@1@S@In late trading, New Jersey Turnpike Authority's 7.20% issue of 2018 was off 1/4 point at 98 bid.@@@@1@18@@oe@2-2-2013
21874056@unknown@formal@none@1@S@The yield was 7.35%, up 0.01 percentage point.@@@@1@8@@oe@2-2-2013
21874057@unknown@formal@none@1@S@Mortgage-Backed Securities@@@@1@2@@oe@2-2-2013
21874058@unknown@formal@none@1@S@Mortgage securities ended little changed after light dealings.@@@@1@8@@oe@2-2-2013
21874059@unknown@formal@none@1@S@There was no appreciable market impact from the California earthquake.@@@@1@10@@oe@2-2-2013
21874060@unknown@formal@none@1@S@Dealers said there was some concern that insurance companies might be forced to sell mortgage securities to help pay earthquake-related claims, but no selling materialized.@@@@1@25@@oe@2-2-2013
21874061@unknown@formal@none@1@S@The Federal Home Loan Mortgage Corp. and Federal National Mortgage Association, two dominant issuers of mortgage securities, have a sizable amount of California home loans in their mortgagebacked pools.@@@@1@29@@oe@2-2-2013
21874062@unknown@formal@none@1@S@But their potential quake exposure is seen as small given that they require a financial cushion on all the loans they purchase.@@@@1@22@@oe@2-2-2013
21874063@unknown@formal@none@1@S@And because Northern California home prices are so high, loans from the region often are too large to be included in Freddie Mac and Fannie Mae pools.@@@@1@27@@oe@2-2-2013
21874064@unknown@formal@none@1@S@Meanwhile, Government National Mortgage Association 9% securities for November delivery ended at 97 29/32, unchanged.@@@@1@15@@oe@2-2-2013
21874065@unknown@formal@none@1@S@Freddie Mac 9% securities were at 97 4/32, down 1/32.@@@@1@10@@oe@2-2-2013
21874066@unknown@formal@none@1@S@In derivative markets, Fannie Mae issued two $400 million real estate mortgage investment conduits backed by its 9% securities.@@@@1@19@@oe@2-2-2013
21874067@unknown@formal@none@1@S@Foreign Bonds@@@@1@2@@oe@2-2-2013
21874068@unknown@formal@none@1@S@British government bonds, or gilts, ended moderately lower as equities there recovered from Tuesday's drop.@@@@1@15@@oe@2-2-2013
21874069@unknown@formal@none@1@S@The Treasury's 11 3/4% bond due 2003/2007 fell 11/32 to 111 31/32 to yield 10.08%, while the 12% notes due 1995 were down 7/32 to 103 22/32 to yield 11.04%.@@@@1@30@@oe@2-2-2013
21874070@unknown@formal@none@1@S@Traders said today may be an anxious day for the market.@@@@1@11@@oe@2-2-2013
21874071@unknown@formal@none@1@S@Several key economic figures are due out and Chancellor of the Exchequer Nigel Lawson is scheduled to give the annual "Mansion House" address to the financial community.@@@@1@27@@oe@2-2-2013
21874072@unknown@formal@none@1@S@The chancellor sometimes has used the occasion to announce major economic policy changes.@@@@1@13@@oe@2-2-2013
21874073@unknown@formal@none@1@S@Economists don't expect any such changes in this year's address, given Mr. Lawson's apparent reluctance to adjust policy currently.@@@@1@19@@oe@2-2-2013
21874074@unknown@formal@none@1@S@Meanwhile, Japanese government bonds retreated in quiet trading, stymied by the dollar's resiliency.@@@@1@13@@oe@2-2-2013
21874075@unknown@formal@none@1@S@Japan's bellwether 4.6% bond due 1998 ended on brokers' screens at 95.75 to yield 5.315%.@@@@1@15@@oe@2-2-2013
21874076@unknown@formal@none@1@S@In West Germany, investors stayed on the sidelines as the bond market searched for direction.@@@@1@15@@oe@2-2-2013
21874077@unknown@formal@none@1@S@The government's 7% issue due October 1999 fell 0.05 point to 99.90 to yield 7.01%.@@@@1@15@@oe@2-2-2013
21875001@unknown@formal@none@1@S@The Berlin Wall still stands.@@@@1@5@@oe@2-2-2013
21875002@unknown@formal@none@1@S@But the man who built it has fallen.@@@@1@8@@oe@2-2-2013
21875003@unknown@formal@none@1@S@East Germany yesterday removed Erich Honecker, one of the staunchest holdouts against the reform rumbling through the Communist world, in an effort to win back the confidence of its increasingly rebellious citizens.@@@@1@32@@oe@2-2-2013
21875004@unknown@formal@none@1@S@But while it was a move that stunned the East bloc, it hardly ushers in an era of reform -- at least anytime soon.@@@@1@24@@oe@2-2-2013
21875005@unknown@formal@none@1@S@For the Politburo replaced Mr. Honecker, who had led East Germany for 18 years and before that headed its security apparatus, with a man cut of the same cloth: Egon Krenz, the most recent internal-security chief and a longtime Honecker protege.@@@@1@41@@oe@2-2-2013
21875006@unknown@formal@none@1@S@East Germany, it is clear, is no Poland, where the Communist Party now shares power with the democratically elected Solidarity union.@@@@1@21@@oe@2-2-2013
21875007@unknown@formal@none@1@S@Nor is it a Hungary, where yesterday the parliament approved constitutional changes meant to help turn the Communist nation into a multiparty democracy.@@@@1@23@@oe@2-2-2013
21875008@unknown@formal@none@1@S@Still, any change in East Germany has enormous implications, for both East and West.@@@@1@14@@oe@2-2-2013
21875009@unknown@formal@none@1@S@It raises the long-cherished hopes of many Germans for reunification -- a prospect that almost equally alarms political leaders in Moscow, Washington and Western Europe.@@@@1@25@@oe@2-2-2013
21875010@unknown@formal@none@1@S@Mr. Krenz, 52, was named the new party chief just minutes after the Party's 163-member Central Committee convened in East Berlin.@@@@1@21@@oe@2-2-2013
21875011@unknown@formal@none@1@S@Although the East German news agency ADN claimed Mr. Honecker had asked to be relieved of his duties for "health reasons," West German government sources said the 26-man Politburo had asked for his resignation at a separate meeting late Tuesday.@@@@1@40@@oe@2-2-2013
21875012@unknown@formal@none@1@S@(Mr. Honecker was twice hospitalized this summer for a gall bladder ailment and his physical condition has been the subject of intense speculation in the Western media.)@@@@1@27@@oe@2-2-2013
21875013@unknown@formal@none@1@S@ADN said Mr. Honecker, a hard-line Stalinist who in 1961 supervised the construction of the Berlin Wall, also was relieved of his title as head of state and his position as chief of the military.@@@@1@35@@oe@2-2-2013
21875014@unknown@formal@none@1@S@Mr. Krenz is expected to be formally named to all three positions once the nation's parliament convenes later this week.@@@@1@20@@oe@2-2-2013
21875015@unknown@formal@none@1@S@Mr. Honecker's ignoble fall culminates nearly two decades of iron-handed leadership during which Mr. Honecker, now 77 years old, built East Germany into the most economically advanced nation in the Soviet bloc.@@@@1@32@@oe@2-2-2013
21875016@unknown@formal@none@1@S@His grip on power unraveled this summer as thousands of his countrymen, dissatisfied by the harshness of his rule, fled to the West.@@@@1@23@@oe@2-2-2013
21875017@unknown@formal@none@1@S@Thousands more have taken to the streets in the last month in East Germany's largest wave of domestic unrest since a workers' uprising in 1953.@@@@1@25@@oe@2-2-2013
21875018@unknown@formal@none@1@S@In Washington, the Bush administration took a characteristically cautious and skeptical view of the leadership change.@@@@1@16@@oe@2-2-2013
21875019@unknown@formal@none@1@S@The official line was to offer warmer ties to Mr. Krenz, provided he is willing to institute reforms.@@@@1@18@@oe@2-2-2013
21875020@unknown@formal@none@1@S@But U.S. officials have strong doubts that he is a reformer.@@@@1@11@@oe@2-2-2013
21875021@unknown@formal@none@1@S@President Bush told reporters: "Whether that {the leadership change} reflects a change in East-West relations, I don't think so.@@@@1@19@@oe@2-2-2013
21875022@unknown@formal@none@1@S@Because Mr. Krenz has been very much in accord with the policies of Honecker."@@@@1@14@@oe@2-2-2013
21875023@unknown@formal@none@1@S@One top U.S. expert on East Germany added: "There is no clear-cut champion of reform, that we know of, in the East German leadership."@@@@1@24@@oe@2-2-2013
21875024@unknown@formal@none@1@S@Indeed, Mr. Krenz said on East German television last night that there will be no sharing of power with pro-democracy groups.@@@@1@21@@oe@2-2-2013
21875025@unknown@formal@none@1@S@He said, while dialogue is important, enough forums already exist "in which different interests" can express themselves.@@@@1@17@@oe@2-2-2013
21875026@unknown@formal@none@1@S@The removal of Mr. Honecker was apparently the result of bitter infighting within the top ranks of the Communist party.@@@@1@20@@oe@2-2-2013
21875027@unknown@formal@none@1@S@According to West German government sources, Mr. Honecker and several senior Politburo members fought over the last week to delay any decisions about a leadership change.@@@@1@26@@oe@2-2-2013
21875028@unknown@formal@none@1@S@But, with public demonstrations in the country growing in size and intensity, Mr. Honecker and several key allies lost out in this battle, officials say.@@@@1@25@@oe@2-2-2013
21875029@unknown@formal@none@1@S@Those allies included Politburo members Guenter Mittag, who has long headed economic affairs, and Joachim Hermann, chief of information policy.@@@@1@20@@oe@2-2-2013
21875030@unknown@formal@none@1@S@Both men were also relieved of their duties yesterday.@@@@1@9@@oe@2-2-2013
21875031@unknown@formal@none@1@S@Although other resignations may follow, it's still not clear to what extent the change in party personnel will alter the government's resistance to fundamental change.@@@@1@25@@oe@2-2-2013
21875032@unknown@formal@none@1@S@Clearly, the central figure in this process is Egon Krenz.@@@@1@10@@oe@2-2-2013
21875033@unknown@formal@none@1@S@Born in 1937 in a Baltic Sea town now part of Poland, he was eight years old when World War II ended.@@@@1@22@@oe@2-2-2013
21875034@unknown@formal@none@1@S@Like West German Chancellor Helmut Kohl, he represents the postwar generation that has grown up during Germany's division.@@@@1@18@@oe@2-2-2013
21875035@unknown@formal@none@1@S@Since joining the Politburo in 1983 as its youngest member, Mr. Krenz had acquired the nickname "crown prince," a reference to the widely held view that he was the hand-picked successor to Mr. Honecker.@@@@1@34@@oe@2-2-2013
21875036@unknown@formal@none@1@S@In fact, the two men have had strikingly similar career paths, both having served as chief of internal security before their rise to the top party position.@@@@1@27@@oe@2-2-2013
21875037@unknown@formal@none@1@S@Moreover, both men have hewn to a similar hard-line philosophy.@@@@1@10@@oe@2-2-2013
21875038@unknown@formal@none@1@S@Notably, one of Mr. Krenz's few official visits overseas came a few months ago, when he visited China after the massacre in Beijing.@@@@1@23@@oe@2-2-2013
21875039@unknown@formal@none@1@S@He later defended the Chinese government's response during a separate visit to West Germany.@@@@1@14@@oe@2-2-2013
21875040@unknown@formal@none@1@S@East German Protestantism in particular fears Mr. Krenz, in part because of an incident in January 1988 when he was believed to have ordered the arrest of hundreds of dissidents who had sought refuge in the Church.@@@@1@37@@oe@2-2-2013
21875041@unknown@formal@none@1@S@However, Mr. Krenz also has a reputation for being politically savvy.@@@@1@11@@oe@2-2-2013
21875042@unknown@formal@none@1@S@His shrewd ability to read the shifting popular mood in East Germany is best illustrated by his apparent break with his old mentor, Mr. Honecker.@@@@1@25@@oe@2-2-2013
21875043@unknown@formal@none@1@S@Indeed, according to West German government sources, he was one of the leaders in the power struggle that toppled Mr. Honecker.@@@@1@21@@oe@2-2-2013
21875044@unknown@formal@none@1@S@In recent days, Mr. Krenz has sought to project a kinder image.@@@@1@12@@oe@2-2-2013
21875045@unknown@formal@none@1@S@According to a report widely circulating in East Berlin, it was Mr. Krenz who ordered police to stop using excessive force against demonstrators in Leipzig.@@@@1@25@@oe@2-2-2013
21875046@unknown@formal@none@1@S@"He doesn't want to have the image of the gun man," says Fred Oldenburg, an expert at the Bonn-sponsored Institute of East European and International Studies in Cologne.@@@@1@28@@oe@2-2-2013
21875047@unknown@formal@none@1@S@"He's not a reformer -- he wants to have the image of a reformer."@@@@1@14@@oe@2-2-2013
21875048@unknown@formal@none@1@S@As part of his image polishing, Mr. Krenz is expected to take modest steps toward reform to rebuild confidence among the people and reassert the party's authority.@@@@1@27@@oe@2-2-2013
21875049@unknown@formal@none@1@S@Besides sacking other senior Politburo officials who allied themselves with Mr. Honecker, Mr. Krenz could loosen controls on the news media, free up travel restrictions, and establish a dialogue with various dissident groups.@@@@1@33@@oe@2-2-2013
21875050@unknown@formal@none@1@S@But will it be enough?@@@@1@5@@oe@2-2-2013
21875051@unknown@formal@none@1@S@West German government officials and Western analysts are doubtful.@@@@1@9@@oe@2-2-2013
21875052@unknown@formal@none@1@S@"He doesn't signify what people want, so the unrest will go on," Mr. Oldenburg predicts.@@@@1@15@@oe@2-2-2013
21875053@unknown@formal@none@1@S@At the same time, the expectations of the East German people are great and will continue to grow.@@@@1@18@@oe@2-2-2013
21875054@unknown@formal@none@1@S@Says one West German official: "What's necessary now is the process of democratization.@@@@1@13@@oe@2-2-2013
21875055@unknown@formal@none@1@S@Not just that people are being heard but that their interests are being taken seriously."@@@@1@15@@oe@2-2-2013
21875056@unknown@formal@none@1@S@Chancellor Kohl, meanwhile, has invited Mr. Krenz to open discussions with Bonn on a wide range of subjects.@@@@1@18@@oe@2-2-2013
21875057@unknown@formal@none@1@S@Reports in the West German press, citing sources in East Germany, suggest Mr. Krenz may serve only as a bridge between Mr. Honecker and a genuine reform leader.@@@@1@28@@oe@2-2-2013
21875058@unknown@formal@none@1@S@Adding to that speculation is Mr. Krenz's reputation as a heavy drinker, who is said to also suffer from diabetes.@@@@1@20@@oe@2-2-2013
21875059@unknown@formal@none@1@S@"This is a dynamic process and we're experiencing the first step," the Bonn official adds.@@@@1@15@@oe@2-2-2013
21875060@unknown@formal@none@1@S@The selection of Mr. Krenz may also disappoint Moscow.@@@@1@9@@oe@2-2-2013
21875061@unknown@formal@none@1@S@Soviet leader Mikhail Gorbachev has pressed hard for a change in East Germany's rigid stance.@@@@1@15@@oe@2-2-2013
21875062@unknown@formal@none@1@S@Two reform-minded party leaders favored by Moscow as possible successors to Mr. Honecker, Dresden party secretary Hans Modrow and Politburo member Guenter Schabowski, were passed over.@@@@1@26@@oe@2-2-2013
21875063@unknown@formal@none@1@S@If Mr. Krenz sticks to rigid policies the pressure from the Soviet Union could intensify.@@@@1@15@@oe@2-2-2013
21875064@unknown@formal@none@1@S@In Moscow, Mr. Gorbachev sent Mr. Krenz a congratulatory telegram that appeared to urge the new leadership to heed growing calls for change.@@@@1@23@@oe@2-2-2013
21875065@unknown@formal@none@1@S@According to the Soviet news agency Tass, "Gorbachev expressed the conviction that the leadership of the Socialist Unity Party of {East} Germany, being sensitive to the demands of the time, . . . will find solutions to complicated problems the GDR {German Democratic Republic} encountered."@@@@1@45@@oe@2-2-2013
21875066@unknown@formal@none@1@S@A force of younger pro-Gorbachev members in the East German bureaucracy has for some time been pushing for relaxation within their country.@@@@1@22@@oe@2-2-2013
21875067@unknown@formal@none@1@S@The older generation has been torn between a fear of tampering with the status quo and a fear of what might happen if they didn't.@@@@1@25@@oe@2-2-2013
21875068@unknown@formal@none@1@S@From the perspective of East Germany's old guard, reforms that smack of capitalism and Western-style democracy could eliminate their country's reason for being.@@@@1@23@@oe@2-2-2013
21875069@unknown@formal@none@1@S@Unlike the other nations of the bloc, East Germany is a creature of the Cold War.@@@@1@16@@oe@2-2-2013
21875070@unknown@formal@none@1@S@Erasing the differences still dividing Europe, and the vast international reordering that implies, won't endanger the statehood of a Poland or a Hungary.@@@@1@23@@oe@2-2-2013
21875071@unknown@formal@none@1@S@But it could ultimately lead to German reunification and the disappearance of East Germany from the map.@@@@1@17@@oe@2-2-2013
21875072@unknown@formal@none@1@S@Which is what the Old Guard fears.@@@@1@7@@oe@2-2-2013
21875073@unknown@formal@none@1@S@"I'm sure they'll formulate a reform that will be a recipe for the GDR's future as a separately identifiable state," says Michael Simmons, a British journalist whose book on East Germany, entitled "The Unloved Country," was published this month.@@@@1@39@@oe@2-2-2013
21875074@unknown@formal@none@1@S@Up to now, that recipe has consisted of a dogged effort by former leader Walter Ulbricht to establish the country's international legitimacy, followed by Mr. Honecker's campaign to build the East bloc's only successful Stalinist economy into a consumer paradise.@@@@1@40@@oe@2-2-2013
21875075@unknown@formal@none@1@S@Neither man achieved perfection.@@@@1@4@@oe@2-2-2013
21875076@unknown@formal@none@1@S@Early in 1987, Mr. Honecker and his team stopped paying thin compliments to Mr. Gorbachev and joined with Romania in rejecting any necessity for adjustments in their systems.@@@@1@28@@oe@2-2-2013
21875077@unknown@formal@none@1@S@The less-self-confident Czechoslovaks and Bulgarians, in contrast, declared their intentions to reform, while doing nothing concrete about it.@@@@1@18@@oe@2-2-2013
21875078@unknown@formal@none@1@S@The East German media soon began presenting Mr. Gorbachev's speeches only as sketchy summaries, and giving space to his opponents.@@@@1@20@@oe@2-2-2013
21875079@unknown@formal@none@1@S@By late 1988, they were banning Soviet publications.@@@@1@8@@oe@2-2-2013
21875080@unknown@formal@none@1@S@The country abandoned its former devotion to socialist unity and took to insisting instead that each country in the bloc ought to travel its own road.@@@@1@26@@oe@2-2-2013
21875081@unknown@formal@none@1@S@Mr. Honecker spoke of "generally valid objective laws of socialism" and left no room for debate.@@@@1@16@@oe@2-2-2013
21875082@unknown@formal@none@1@S@With this year's dislocations in China and the Soviet Union, and the drive to democracy in Poland and Hungary, the East German leadership grew still more defensive.@@@@1@27@@oe@2-2-2013
21875083@unknown@formal@none@1@S@Politburo member Joachim Herrman confessed to a "grave concern" over Hungarian democracy.@@@@1@12@@oe@2-2-2013
21875084@unknown@formal@none@1@S@"Under the banner that proclaims the `renewal of socialism,'" he said, "forces are at work that are striving to eliminate socialism."@@@@1@21@@oe@2-2-2013
21875085@unknown@formal@none@1@S@Some loyal voices, in and out of the East German Communist party, saw the nation's unrest coming.@@@@1@17@@oe@2-2-2013
21875086@unknown@formal@none@1@S@The first signs were economic.@@@@1@5@@oe@2-2-2013
21875087@unknown@formal@none@1@S@Despite heavily subsidized consumer industries, East Germans have for years watched the West pull farther out ahead.@@@@1@17@@oe@2-2-2013
21875088@unknown@formal@none@1@S@In 1988, for the first time, economic growth came to a dead stop.@@@@1@13@@oe@2-2-2013
21875089@unknown@formal@none@1@S@Gingerly, some economists began to blame central planning.@@@@1@8@@oe@2-2-2013
21875090@unknown@formal@none@1@S@Some writers in theoretical journals even raised the notion of introducing democracy, at least in the workplace.@@@@1@17@@oe@2-2-2013
21875091@unknown@formal@none@1@S@By summer, an independent reform movement was saying out loud what it had only whispered before.@@@@1@16@@oe@2-2-2013
21875092@unknown@formal@none@1@S@But they are stalwart socialists.@@@@1@5@@oe@2-2-2013
21875093@unknown@formal@none@1@S@Their proclaimed purpose is to cleanse East Germany of its Stalinist muck, not to merge with the West.@@@@1@18@@oe@2-2-2013
21875094@unknown@formal@none@1@S@One of their pastors has envisioned a "new utopia" of "creative socialism."@@@@1@12@@oe@2-2-2013
21875095@unknown@formal@none@1@S@Meanwhile, the man Mr. Krenz replaces has left an indelible mark on East German society.@@@@1@15@@oe@2-2-2013
21875096@unknown@formal@none@1@S@Imprisoned by the Nazis during World War II for his political beliefs, Mr. Honecker typified the postwar generation of committed Communist leaders in Eastern Europe who took their cues from Moscow.@@@@1@31@@oe@2-2-2013
21875097@unknown@formal@none@1@S@He was a "socialist warrior" who felt rankled by West Germany's enormous postwar prosperity and the Bonn government's steadfast refusal to recognize the legitimacy of his state.@@@@1@27@@oe@2-2-2013
21875098@unknown@formal@none@1@S@Finally, during his first and only state visit to Bonn two years ago, he won some measure of the recognition he had long sought.@@@@1@24@@oe@2-2-2013
21875099@unknown@formal@none@1@S@But ultimately he was undone by forces unleashed by his own comrade, Mr. Gorbachev.@@@@1@14@@oe@2-2-2013
21875100@unknown@formal@none@1@S@Mr. Honecker's removal "was bound to happen," says one aide to Chancellor Kohl.@@@@1@13@@oe@2-2-2013
21875101@unknown@formal@none@1@S@"It was only a matter of time."@@@@1@7@@oe@2-2-2013
21875102@unknown@formal@none@1@S@The European Community Commission increased its forecast for economic growth in the EC in 1989 to 3.5%, slightly higher than its June projection of 3.25%.@@@@1@25@@oe@2-2-2013
21875103@unknown@formal@none@1@S@In its annual economic report for 1989-1990, the commission also projected 1990 gross domestic product growth for the 12 EC members at 3%.@@@@1@23@@oe@2-2-2013
21875104@unknown@formal@none@1@S@EC inflation was seen at 4.8% in 1989, higher than 1988's 3.6% price rise.@@@@1@14@@oe@2-2-2013
21875105@unknown@formal@none@1@S@However, inflation for 1990 was seen slowing to 4.5%.@@@@1@9@@oe@2-2-2013
21875106@unknown@formal@none@1@S@Leading EC growth forecasts in 1989 was Ireland, seen growing 5% at constant prices.@@@@1@14@@oe@2-2-2013
21875107@unknown@formal@none@1@S@Slower growth countries included Greece, at 2.5%, the U.K., at 2.25%, and Denmark, at 1.75%.@@@@1@15@@oe@2-2-2013
21875108@unknown@formal@none@1@S@Inflation is expected to be highest in Greece, where it is projected at 14.25%, and Portugal, at 13%.@@@@1@18@@oe@2-2-2013
21875109@unknown@formal@none@1@S@At the other end of the spectrum, West German inflation was forecast at 3% in 1989 and 2.75% in 1990.@@@@1@20@@oe@2-2-2013
21875110@unknown@formal@none@1@S@Nestle Korea Ltd. opened a coffee and non-dairy-creamer plant in Chongju, South Korea.@@@@1@13@@oe@2-2-2013
21875111@unknown@formal@none@1@S@An official at Nestle Korea, a 50-50 joint venture between Nestle S.A. and the Doosan Group, said the new facility will manufacture all types of soluble, roasted and ground coffee, coffee mix and nondairy coffee creamer.@@@@1@36@@oe@2-2-2013
21875112@unknown@formal@none@1@S@The South Korean coffee market, consisting mostly of instant coffee, was estimated at about 100 billion won ($150.7 million) last year.@@@@1@21@@oe@2-2-2013
21875113@unknown@formal@none@1@S@Brands made by the Kraft General Foods unit of Philip Morris Cos. had about 95% of the market share.@@@@1@19@@oe@2-2-2013
21875114@unknown@formal@none@1@S@Nestle currently has only about a 2% share with its Taster's Choice coffee.@@@@1@13@@oe@2-2-2013
21875115@unknown@formal@none@1@S@Poland plans to start negotiations soon on purchasing natural gas from Iran, the official Islamic Republic News Agency reported.@@@@1@19@@oe@2-2-2013
21875116@unknown@formal@none@1@S@The agency said Polish Prime Minister Tadeusz Mazowiecki told Iranian Deputy Foreign Minister Mahmoud Vaezi of Poland's willingess to purchase the gas during Mr. Vaezi's current visit to Warsaw.@@@@1@29@@oe@2-2-2013
21875117@unknown@formal@none@1@S@The agency didn't mention possible quantities and didn't say how the gas would be delivered.@@@@1@15@@oe@2-2-2013
21875118@unknown@formal@none@1@S@A Chinese official harshly criticized plans to close a British naval base in downtown Hong Kong.@@@@1@16@@oe@2-2-2013
21875119@unknown@formal@none@1@S@Hong Kong officials announced last week that the base will be relocated to a small island to allow downtown redevelopment.@@@@1@20@@oe@2-2-2013
21875120@unknown@formal@none@1@S@But Beijing wants to use the base for the People's Liberation Army after 1997, when the territory returns to Chinese sovereignty.@@@@1@21@@oe@2-2-2013
21875121@unknown@formal@none@1@S@Ke Zaishuo, head of China's delegation to a Chinese-British Liaison Committee on Hong Kong, accused Britain of trying to impose a fait accompli and said, "This is something we cannot accept."@@@@1@31@@oe@2-2-2013
21875122@unknown@formal@none@1@S@The Israeli and Soviet national airlines have reached preliminary agreement for launching the first direct flights between Tel Aviv and Moscow, a spokesman for the Israeli airline, El Al, said.@@@@1@30@@oe@2-2-2013
21875123@unknown@formal@none@1@S@El Al director Rafi Har-Lev and top officials of the Soviet Union's Aeroflot negotiated a preliminary pact in Moscow this week, the spokesman said.@@@@1@24@@oe@2-2-2013
21875124@unknown@formal@none@1@S@He added that concluding the deal requires approval by the governments of both countries, which have never had direct air links.@@@@1@21@@oe@2-2-2013
21875125@unknown@formal@none@1@S@The chairman and a director of one of the Republic of Singapore's leading property companies, City Development Ltd., or CDL, were charged yesterday with criminal breach of trust of some 800,000 Singapore dollars (about US$409,000).@@@@1@35@@oe@2-2-2013
21875126@unknown@formal@none@1@S@Kwek Hong Png, chairman of CDL, and director Quek Leng Chye were arrested by the republic's Corrupt Practices Investigation Bureau Tuesday night.@@@@1@22@@oe@2-2-2013
21875127@unknown@formal@none@1@S@In addition to abetting in the alleged criminal breach of trust, Kwek Hong Png was also charged with dishonestly receiving S$500,000 that had been stolen.@@@@1@25@@oe@2-2-2013
21875128@unknown@formal@none@1@S@Both men were charged in a subordinate court and released on bail of S$1 million.@@@@1@15@@oe@2-2-2013
21875129@unknown@formal@none@1@S@The charges are the culmination of weeks of rumors concerning CDL that have depressed the company's share price and to a lesser extent the shares of all companies owned by CDL's controlling Quek family, brokers in Singapore say.@@@@1@38@@oe@2-2-2013
21875130@unknown@formal@none@1@S@The Queks control the Hong Leong Group, which has widespread interests in manufacturing, property and finance in both Malaysia and Singapore.@@@@1@21@@oe@2-2-2013
21875131@unknown@formal@none@1@S@News of the arrest and charging of the two men helped to push prices on the Singapore Stock market sharply lower in early trading yesterday, but brokers said that the market and CDL shares recovered once it became apparent the charges were limited to the two men personally.@@@@1@48@@oe@2-2-2013
21875132@unknown@formal@none@1@S@One of the two British companies still making hard toilet paper stopped production of it.@@@@1@15@@oe@2-2-2013
21875133@unknown@formal@none@1@S@British Tissues decided to do away with its hard paper after a major customer, British Rail, switched to softer tissues for train bathrooms. . . .@@@@1@26@@oe@2-2-2013
21875134@unknown@formal@none@1@S@Peasants in Inner Mongolia have partly dismantled a 20-mile section of China's famed Great Wall, the official People's Daily said.@@@@1@20@@oe@2-2-2013
21875135@unknown@formal@none@1@S@The paper said the bricks were used to build homes and furnaces and, as a result, the wall "is in terrible shape.@@@@1@22@@oe@2-2-2013
21876001@unknown@formal@none@1@S@Wednesday, October 18, 1989@@@@1@4@@oe@2-2-2013
21876002@unknown@formal@none@1@S@The key U.S. and foreign annual interest rates below are a guide to general levels but don't always represent actual transactions.@@@@1@21@@oe@2-2-2013
21876003@unknown@formal@none@1@S@PRIME RATE: 10 1/2%.@@@@1@4@@oe@2-2-2013
21876004@unknown@formal@none@1@S@The base rate on corporate loans at large U.S. money center commercial banks.@@@@1@13@@oe@2-2-2013
21876005@unknown@formal@none@1@S@FEDERAL FUNDS: 8 15/16% high, 8 5/8% low, 8 3/4% near closing bid, 8 7/8% offered.@@@@1@16@@oe@2-2-2013
21876006@unknown@formal@none@1@S@Reserves traded among commercial banks for overnight use in amounts of $1 million or more.@@@@1@15@@oe@2-2-2013
21876007@unknown@formal@none@1@S@Source: Fulton Prebon (U.S.A.) Inc.@@@@1@5@@oe@2-2-2013
21876008@unknown@formal@none@1@S@DISCOUNT RATE: 7%.@@@@1@3@@oe@2-2-2013
21876009@unknown@formal@none@1@S@The charge on loans to depository institutions by the New York Federal Reserve Bank.@@@@1@14@@oe@2-2-2013
21876010@unknown@formal@none@1@S@CALL MONEY: 9 3/4% to 10%.@@@@1@6@@oe@2-2-2013
21876011@unknown@formal@none@1@S@The charge on loans to brokers on stock exchange collateral.@@@@1@10@@oe@2-2-2013
21876012@unknown@formal@none@1@S@COMMERCIAL PAPER placed directly by General Motors Acceptance Corp.: 8.45% 30 to 44 days; 8.25% 45 to 74 days; 8.30% 75 to 99 days; 7.75% 100 to 179 days; 7.50% 180 to 270 days.@@@@1@34@@oe@2-2-2013
21876013@unknown@formal@none@1@S@COMMERCIAL PAPER: High-grade unsecured notes sold through dealers by major corporations in multiples of $1,000: 8.55% 30 days; 8.45% 60 days; 8.375% 90 days.@@@@1@24@@oe@2-2-2013
21876014@unknown@formal@none@1@S@CERTIFICATES OF DEPOSIT: 8.05% one month; 8.02% two months; 8% three months; 7.98% six months; 7.95% one year.@@@@1@18@@oe@2-2-2013
21876015@unknown@formal@none@1@S@Average of top rates paid by major New York banks on primary new issues of negotiable C.D.s, usually on amounts of $1 million and more.@@@@1@25@@oe@2-2-2013
21876016@unknown@formal@none@1@S@The minimum unit is $100,000.@@@@1@5@@oe@2-2-2013
21876017@unknown@formal@none@1@S@Typical rates in the secondary market: 8.53% one month; 8.48% three months; 8.40% six months.@@@@1@15@@oe@2-2-2013
21876018@unknown@formal@none@1@S@BANKERS ACCEPTANCES: 8.42% 30 days; 8.30% 60 days; 8.28% 90 days; 8.15% 120 days; 8.05% 150 days; 7.95% 180 days.@@@@1@20@@oe@2-2-2013
21876019@unknown@formal@none@1@S@Negotiable, bank-backed business credit instruments typically financing an import order.@@@@1@10@@oe@2-2-2013
21876020@unknown@formal@none@1@S@LONDON LATE EURODOLLARS: 8 11/16% to 8 9/16% one month; 8 5/8% to 8 1/2% two months; 8 5/8% to 8 1/2% three months; 8 9/16% to 8 7/16% four months; 8 1/2% to 8 3/8% five months; 8 1/2% to 8 3/8% six months.@@@@1@45@@oe@2-2-2013
21876021@unknown@formal@none@1@S@LONDON INTERBANK OFFERED RATES (LIBOR): 8 11/16% one month; 8 11/16% three months; 8 1/2% six months; 8 1/2% one year.@@@@1@21@@oe@2-2-2013
21876022@unknown@formal@none@1@S@The average of interbank offered rates for dollar deposits in the London market based on quotations at five major banks.@@@@1@20@@oe@2-2-2013
21876023@unknown@formal@none@1@S@FOREIGN PRIME RATES: Canada 13.50%; Germany 8.50%; Japan 4.875%; Switzerland 8.50%; Britain 15%.@@@@1@13@@oe@2-2-2013
21876024@unknown@formal@none@1@S@These rate indications aren't directly comparable; lending practices vary widely by location.@@@@1@12@@oe@2-2-2013
21876025@unknown@formal@none@1@S@TREASURY BILLS: Results of the Monday, October 16, 1989, auction of short-term U.S. government bills, sold at a discount from face value in units of $10,000 to $1 million: 7.37% 13 weeks; 7.42% 26 weeks.@@@@1@35@@oe@2-2-2013
21876026@unknown@formal@none@1@S@FEDERAL HOME LOAN MORTGAGE CORP. (Freddie Mac):@@@@1@7@@oe@2-2-2013
21876027@unknown@formal@none@1@S@Posted yields on 30-year mortgage commitments for delivery within 30 days.@@@@1@11@@oe@2-2-2013
21876028@unknown@formal@none@1@S@9.88%, standard conventional fixed-rate mortgages; 7.875%, 2% rate capped one-year adjustable rate mortgages.@@@@1@13@@oe@2-2-2013
21876029@unknown@formal@none@1@S@Source: Telerate Systems Inc.@@@@1@4@@oe@2-2-2013
21876030@unknown@formal@none@1@S@FEDERAL NATIONAL MORTGAGE ASSOCIATION (Fannie Mae):@@@@1@6@@oe@2-2-2013
21876031@unknown@formal@none@1@S@Posted yields on 30 year mortgage commitments for delivery within 30 days (priced at par) 9.83%, standard conventional fixed-rate mortgages; 8.70%, 6/2 rate capped one-year adjustable rate mortgages.@@@@1@28@@oe@2-2-2013
21876032@unknown@formal@none@1@S@Source: Telerate Systems Inc.@@@@1@4@@oe@2-2-2013
21876033@unknown@formal@none@1@S@MERRILL LYNCH READY ASSETS TRUST: 8.50%.@@@@1@6@@oe@2-2-2013
21876034@unknown@formal@none@1@S@Annualized average rate of return after expenses for the past 30 days; not a forecast of future returns.@@@@1@18@@oe@2-2-2013
21877001@unknown@formal@none@1@S@A grand jury here indicted Norton Co.'s former director of advanced-ceramics research, charging him with interstate transportation of stolen property.@@@@1@20@@oe@2-2-2013
21877002@unknown@formal@none@1@S@Norton and General Electric Co. last month filed a lawsuit against the former research manager, Chien-Min Sung, charging him with stealing trade secrets.@@@@1@23@@oe@2-2-2013
21877003@unknown@formal@none@1@S@Mr. Sung formerly worked at General Electric in research on synthetic diamonds.@@@@1@12@@oe@2-2-2013
21877004@unknown@formal@none@1@S@The criminal charges brought against him involved GE technology, according the court documents.@@@@1@13@@oe@2-2-2013
21877005@unknown@formal@none@1@S@If convicted, he could be imprisoned for up to 10 years and fined $250,000.@@@@1@14@@oe@2-2-2013
21877006@unknown@formal@none@1@S@Mr. Sung couldn't be reached for comment.@@@@1@7@@oe@2-2-2013
21877007@unknown@formal@none@1@S@He earlier denied the allegations against him in the lawsuit by Norton and GE.@@@@1@14@@oe@2-2-2013
21877008@unknown@formal@none@1@S@Norton makes sandpaper and other abrasives, diamond tools, specialty plastics and ceramics.@@@@1@12@@oe@2-2-2013
21878001@unknown@formal@none@1@S@As the citizens of San Francisco and surrounding communities began assessing the damage from Tuesday's devastating earthquake, NBC News began assessing the damage from what some said was a failure to provide comprehensive coverage in the earthquake's initial moments.@@@@1@39@@oe@2-2-2013
21878002@unknown@formal@none@1@S@"In terms of coverage, it was a disaster equal to the earthquakes," said Eric Premner, president for broadcasting of King Broadcasting Co., which owns the NBC affiliate in Seattle, Wash.@@@@1@30@@oe@2-2-2013
21878003@unknown@formal@none@1@S@While rival ABC News outstripped the competition in live coverage of the event by sheer luck -- the network was broadcasting the World Series from Candlestick Park when the quake struck -- NBC News was unable to get its signal out of San Francisco for the first hour after the quake.@@@@1@51@@oe@2-2-2013
21878004@unknown@formal@none@1@S@"I have to attribute the lackluster performance to a natural disaster," said Mr. Premner.@@@@1@14@@oe@2-2-2013
21878005@unknown@formal@none@1@S@"So before I start to be really critical of NBC, I would like to know more about what happened."@@@@1@19@@oe@2-2-2013
21878006@unknown@formal@none@1@S@There were no complaints from affiliates of CBS Inc. and Cable News Network, a unit of Turner Broadcasting System Inc.@@@@1@20@@oe@2-2-2013
21878007@unknown@formal@none@1@S@But that was not the case at NBC News, which has been dogged with the image of not being aggressive on major breaking stories.@@@@1@24@@oe@2-2-2013
21878008@unknown@formal@none@1@S@Last summer, the affiliates bitterly complained to network executives about the poor coverage of the student uprising in China.@@@@1@19@@oe@2-2-2013
21878009@unknown@formal@none@1@S@"I was not pleased with the slow start, and neither was NBC News," said Guy Hempel, general manager of NBC affiliate WAVE in Louisville, Ky.@@@@1@25@@oe@2-2-2013
21878010@unknown@formal@none@1@S@A spokesman for National Broadcasting Co., a unit of General Electric Co., said the network was "looking into what happened."@@@@1@20@@oe@2-2-2013
21878011@unknown@formal@none@1@S@The stations said they were pleased with the extended coverage yesterday, including a special five-hour edition of "Today."@@@@1@18@@oe@2-2-2013
21878012@unknown@formal@none@1@S@Don Browne, director of news at NBC News, said in an interview that "we couldn't get a signal out of San Francisco.@@@@1@22@@oe@2-2-2013
21878013@unknown@formal@none@1@S@We were out of the box.@@@@1@6@@oe@2-2-2013
21878014@unknown@formal@none@1@S@It was horrible.@@@@1@3@@oe@2-2-2013
21878015@unknown@formal@none@1@S@The comment we're hearing is that we were slow out of the box, but beat everyone else in the stretch."@@@@1@20@@oe@2-2-2013
21878016@unknown@formal@none@1@S@NBC broadcast throughout the entire night and did not go off the air until noon yesterday.@@@@1@16@@oe@2-2-2013
21878017@unknown@formal@none@1@S@The quake postponed the third and fourth games of the World Series.@@@@1@12@@oe@2-2-2013
21878018@unknown@formal@none@1@S@In place of the games, ABC said it planned to broadcast next week's episodes of its prime-time Wednesday and Thursday lineups, except for a one-hour special on the earthquake at 10 p.m. last night.@@@@1@34@@oe@2-2-2013
21878019@unknown@formal@none@1@S@The series is scheduled to resume Tuesday evening in San Francisco.@@@@1@11@@oe@2-2-2013
21878020@unknown@formal@none@1@S@"There are no commercials to make up for since we're going to eventually broadcast the World Series," said a network spokesman.@@@@1@21@@oe@2-2-2013
21879001@unknown@formal@none@1@S@Pinnacle West Capital Corp. said it suspended indefinitely its common stock dividend and reported a 91% plunge in third-quarter net income.@@@@1@21@@oe@2-2-2013
21879002@unknown@formal@none@1@S@The announcement, made after the close of trading, caught analysts by surprise.@@@@1@12@@oe@2-2-2013
21879003@unknown@formal@none@1@S@The company closed at $12 a share, down 62.5 cents, in composite trading on the New York Stock Exchange.@@@@1@19@@oe@2-2-2013
21879004@unknown@formal@none@1@S@Pinnacle West slashed its quarterly dividend to 40 cents per share from 70 cents in December, saying at the time that it believed the new, lower dividend was "sustainable."@@@@1@29@@oe@2-2-2013
21879005@unknown@formal@none@1@S@A company spokesman said the decision to eliminate the dividend resulted from a quarterly appraisal and that circumstances had changed since the December announcement.@@@@1@24@@oe@2-2-2013
21879006@unknown@formal@none@1@S@He declined to elaborate.@@@@1@4@@oe@2-2-2013
21879007@unknown@formal@none@1@S@Edward J. Tirello Jr., an analyst at Shearson Lehman Hutton Inc., speculated that the sudden dividend elimination presages an expensive agreement with thrift regulators over the company's insolvent MeraBank savings and loan unit.@@@@1@33@@oe@2-2-2013
21879008@unknown@formal@none@1@S@Analysts have estimated that Pinnacle West may have to inject between $300 million and $400 million into the MeraBank unit before turning the thrift over to federal regulators.@@@@1@28@@oe@2-2-2013
21879009@unknown@formal@none@1@S@The latest financial results at the troubled utility and thrift holding company, based in Phoenix, Ariz., reflect continuing problems at MeraBank and losses in real-estate, venture-capital and uranium-mining operations.@@@@1@29@@oe@2-2-2013
21879010@unknown@formal@none@1@S@Third-quarter net income slid to $5.1 million, or six cents a share, from $56 million, or 65 cents, a year earlier.@@@@1@21@@oe@2-2-2013
21879011@unknown@formal@none@1@S@Utility operations, the only company unit operating in the black in the latest period, had a 26% drop in profit, to $86.3 million, largely as a result of outages at the company's huge Palo Verde nuclear facility and the cost of purchased replacement power.@@@@1@44@@oe@2-2-2013
21879012@unknown@formal@none@1@S@In other operations, losses at MeraBank totaled $85.7 million in the latest quarter, compared with a $2.5 million profit a year earlier.@@@@1@22@@oe@2-2-2013
21879013@unknown@formal@none@1@S@The latest quarter includes a $42.7 million addition to loan-loss reserves.@@@@1@11@@oe@2-2-2013
21879014@unknown@formal@none@1@S@As recently as August, the company said it didn't foresee a need for substantial additions to reserves.@@@@1@17@@oe@2-2-2013
21879015@unknown@formal@none@1@S@Pinnacle's SunCor Development Co. real-estate unit's loss narrowed to $13.8 million from $78.4 million.@@@@1@14@@oe@2-2-2013
21879016@unknown@formal@none@1@S@The latest period included a $9 million write-down on undeveloped land, while the year-earlier period included a $46 million reserve for real-estate losses.@@@@1@23@@oe@2-2-2013
21879017@unknown@formal@none@1@S@Losses at its Malapai Resources Co. uranium-mining unit narrowed to $3.4 million from $18 million a year ago, which included a $9 million write-down of utility inventories.@@@@1@27@@oe@2-2-2013
21879018@unknown@formal@none@1@S@Losses at El Dorado Investment Co., the venture-capital operation, widened to $6.8 million from $425,000 a year earlier.@@@@1@18@@oe@2-2-2013
21879019@unknown@formal@none@1@S@The latest quarter included a $6.6 million write-down of investments.@@@@1@10@@oe@2-2-2013
21880001@unknown@formal@none@1@S@Equitec Financial Group said it will ask as many as 100,000 investors in 12 of its public real-estate limited partnerships to give approval to rolling them up into a new master limited partnership.@@@@1@33@@oe@2-2-2013
21880002@unknown@formal@none@1@S@Under the proposal by Equitec, a financially troubled real-estate syndicator, New York-based Hallwood Group Inc. would replace Equitec as the newly formed master limited partnership's general partner and manager.@@@@1@29@@oe@2-2-2013
21880003@unknown@formal@none@1@S@Shares of the new partnership would trade on an exchange like a stock.@@@@1@13@@oe@2-2-2013
21880004@unknown@formal@none@1@S@Hallwood is a merchant bank whose activities include the ownership, management and financial restructuring of shopping centers, office buildings, apartments and other real estate.@@@@1@24@@oe@2-2-2013
21880005@unknown@formal@none@1@S@In a statement, Equitec Chairman Richard L. Saalfeld said the transfer will benefit both the company and investors in the 12 limited partnerships included in the proposed rollup.@@@@1@28@@oe@2-2-2013
21880006@unknown@formal@none@1@S@While he didn't describe the partnerships' financial condition, he said their operations "continue to drain the resources of Equitec."@@@@1@19@@oe@2-2-2013
21880007@unknown@formal@none@1@S@Equitec posted a $3.3 million net loss in the second quarter on $11.8 million of revenue, compared with a net loss of $12.9 million in the year-earlier period on revenue of $9.1 million.@@@@1@33@@oe@2-2-2013
21880008@unknown@formal@none@1@S@In New York Stock Exchange composite trading, Equitec closed at $2.625 a share, unchanged.@@@@1@14@@oe@2-2-2013
21880009@unknown@formal@none@1@S@Because of Tuesday's earthquake in Northern California, company officials couldn't immediately be reached for additional comment.@@@@1@16@@oe@2-2-2013
21880010@unknown@formal@none@1@S@A spokesman for Hallwood said the 12 limited partnerships, which were marketed by brokerage firms and financial planners between 1979 and 1984, raised several hundred million dollars from investors.@@@@1@29@@oe@2-2-2013
21881001@unknown@formal@none@1@S@With airline deals in a tailspin, legendary Wall Street trader Michael Steinhardt could have trouble parachuting out of USAir Group, traders say.@@@@1@22@@oe@2-2-2013
21881002@unknown@formal@none@1@S@Only a week ago, when airline buy-out fever was already winding down, Mr. Steinhardt was engaged in a duel with USAir.@@@@1@21@@oe@2-2-2013
21881003@unknown@formal@none@1@S@He was threatening to take over the carrier, after spending an estimated $167 million to build an 8.4% USAir stake for his investment clients.@@@@1@24@@oe@2-2-2013
21881004@unknown@formal@none@1@S@The would-be raider even hired an investment banker to give teeth to his takeover threat, which was widely interpreted as an effort to flush out an acquirer for USAir, or for his own stake.@@@@1@34@@oe@2-2-2013
21881005@unknown@formal@none@1@S@In fighting USAir, Mr. Steinhardt was pitted against another investor, billionnaire Warren Buffett, who bought into USAir to help fend off Mr. Steinhardt.@@@@1@23@@oe@2-2-2013
21881006@unknown@formal@none@1@S@Mr. Buffett's firm, Berkshire Hathaway, holds a much bigger stake in the carrier than Mr. Steinhardt's firm, Steinhardt Partners.@@@@1@19@@oe@2-2-2013
21881007@unknown@formal@none@1@S@Now, in the wake of UAL's troubles in financing its buy-out, the airline raiding game has been grounded.@@@@1@18@@oe@2-2-2013
21881008@unknown@formal@none@1@S@Instead of hoping to sell his USAir stake at analysts' estimated buy-out price of $80 a share, Mr. Steinhardt is stuck with roughly 3.7 million USAir shares that cost him $45, on average, but yesterday closed at 40 1/2, up 1/4, in New York Stock Exchange composite trading.@@@@1@48@@oe@2-2-2013
21881009@unknown@formal@none@1@S@"It doesn't make sense to parachute out at this price," Mr. Steinhardt says, though he has stopped his takeover talk and now commends USAir managers' "operating skills."@@@@1@27@@oe@2-2-2013
21881010@unknown@formal@none@1@S@At the current price, the USAir holding represents 9% of all the assets that Mr. Steinhardt manages.@@@@1@17@@oe@2-2-2013
21881011@unknown@formal@none@1@S@A week ago, USAir stock briefly soared above 52 after a report in USA Today that Mr. Steinhardt might launch a hostile bid for the carrier, though takeover speculators say they were skeptical.@@@@1@33@@oe@2-2-2013
21881012@unknown@formal@none@1@S@"If USAir is worth 80 as a takeover and the stock went to 52, the market was saying Steinhardt's presence wasn't worth anything, in terms of getting a deal done," says a veteran takeover speculator.@@@@1@35@@oe@2-2-2013
21881013@unknown@formal@none@1@S@Traders say this all goes to show that even the smartest money manager can get infected with crowd passions.@@@@1@19@@oe@2-2-2013
21881014@unknown@formal@none@1@S@In trying to raid USAir, Mr. Steinhardt abandoned his usual role as a passive investor, and ran into snags.@@@@1@19@@oe@2-2-2013
21881015@unknown@formal@none@1@S@Moreover, unlike Mr. Buffett, who often holds big stakes in companies for years, Mr. Steinhardt hasn't in the past done much long-term investing.@@@@1@23@@oe@2-2-2013
21881016@unknown@formal@none@1@S@Mr. Steinhardt, who runs about $1.7 billion for Steinhardt Partners, made his name as a gunslinging trader, moving in and out of stocks with agility -- enriching himself and his investment clients.@@@@1@32@@oe@2-2-2013
21881017@unknown@formal@none@1@S@Meanwhile, his big losses, for instance in 1987's crash, generally have been trading losses.@@@@1@14@@oe@2-2-2013
21881018@unknown@formal@none@1@S@So, some see a special irony in the fact that Mr. Steinhardt, the trader, now is encumbered with a massive, illiquid airline holding.@@@@1@23@@oe@2-2-2013
21881019@unknown@formal@none@1@S@Analysts say USAir stock might lose four or five points if the Steinhardt stake was dumped all at once.@@@@1@19@@oe@2-2-2013
21881020@unknown@formal@none@1@S@As a result, Mr. Steinhardt must reconcile himself to selling USAir at a loss, or to holding the shares as an old-fashioned investment.@@@@1@23@@oe@2-2-2013
21881021@unknown@formal@none@1@S@"Long-term investing -- that's not Steinhardt's style," chuckles an investor who once worked at Steinhardt Partners.@@@@1@16@@oe@2-2-2013
21881022@unknown@formal@none@1@S@"He doesn't usually risk that much unless he thinks he has an ace in the hole," adds another Steinhardt Partners alumnus.@@@@1@21@@oe@2-2-2013
21881023@unknown@formal@none@1@S@In recent days, traders say USAir has been buying its own shares, as part of a program to retire about eight million USAir shares, though the carrier won't discuss its buy-back program.@@@@1@32@@oe@2-2-2013
21881024@unknown@formal@none@1@S@If USAir stepped up its share purchases, that might be a way for Mr. Steinhardt to get out, says Timothy Pettee, a Merrill Lynch analyst.@@@@1@25@@oe@2-2-2013
21881025@unknown@formal@none@1@S@But USAir might not want to help Mr. Steinhardt, he adds.@@@@1@11@@oe@2-2-2013
21881026@unknown@formal@none@1@S@In 1987, USAir Chairman Edwin Colodny stonewalled when Trans World Airlines Chairman Carl Icahn threatened to take over the carrier.@@@@1@20@@oe@2-2-2013
21881027@unknown@formal@none@1@S@Mr. Icahn, a much more practiced raider than Mr. Steinhardt, eventually sold a big USAir stake at a tiny profit through Bear, Stearns.@@@@1@23@@oe@2-2-2013
21881028@unknown@formal@none@1@S@Mr. Steinhardt also could take that route.@@@@1@7@@oe@2-2-2013
21881029@unknown@formal@none@1@S@He confers big trading commissions on Wall Street firms.@@@@1@9@@oe@2-2-2013
21881030@unknown@formal@none@1@S@However, with airline stocks cratering, he might not get a very good price for his shares, traders say.@@@@1@18@@oe@2-2-2013
21881031@unknown@formal@none@1@S@Especially galling for Mr. Steinhardt, say people close to him, is that USAir's Mr. Colodny won't even take his telephone calls.@@@@1@21@@oe@2-2-2013
21881032@unknown@formal@none@1@S@While USAir isn't considered absolutely takeover-proof, its defenses, including the sale in August of a 12% stake in the company to Mr. Buffett's Berkshire Hathaway, are pretty strong.@@@@1@28@@oe@2-2-2013
21881033@unknown@formal@none@1@S@USAir's deal with Mr. Buffett "wasn't exactly a shining example of shareholder democracy," Mr. Steinhardt says.@@@@1@16@@oe@2-2-2013
21881034@unknown@formal@none@1@S@Since last April, the investor has made seven so-called 13D filings in USAir, as he bought and sold the company's stock.@@@@1@21@@oe@2-2-2013
21881035@unknown@formal@none@1@S@Such disclosures of big holdings often are used by raiders to try to scare a company's managers, and to stir interest in the stock.@@@@1@24@@oe@2-2-2013
21881036@unknown@formal@none@1@S@But of course it would be highly unusual for an investment fund such as Steinhardt Partners to take over a company.@@@@1@21@@oe@2-2-2013
21881037@unknown@formal@none@1@S@USAir and Mr. Buffett won't talk about Mr. Steinhardt at all.@@@@1@11@@oe@2-2-2013
21881038@unknown@formal@none@1@S@Analysts say USAir has great promise.@@@@1@6@@oe@2-2-2013
21881039@unknown@formal@none@1@S@By the second half of 1990, USAir stock could hit 60, says Helane Becker of Shearson Lehman Hutton.@@@@1@18@@oe@2-2-2013
21881040@unknown@formal@none@1@S@She thinks traders should buy the stock if it tumbles to 35.@@@@1@12@@oe@2-2-2013
21881041@unknown@formal@none@1@S@But meanwhile, USAir is expected to show losses or lackluster profit for several quarters as it tries to digest Piedmont Airlines, which it acquired.@@@@1@24@@oe@2-2-2013
21881042@unknown@formal@none@1@S@Moreover, some investors think a recession or renewed airfare wars will pummel airline stocks in coming months.@@@@1@17@@oe@2-2-2013
21881043@unknown@formal@none@1@S@However, Mr. Steinhardt says he's "comfortable holding USAir as an investment."@@@@1@11@@oe@2-2-2013
21881044@unknown@formal@none@1@S@While he has bought and sold some USAir shares in recent days, he says that contrary to rumors, he hasn't tried to unload his holding.@@@@1@25@@oe@2-2-2013
21881045@unknown@formal@none@1@S@Mr. Steinhardt adds that he bought USAir stock earlier this year as "part of a fundamental investment in the airline group."@@@@1@21@@oe@2-2-2013
21881046@unknown@formal@none@1@S@In 1989, Mr. Steinhardt says he made money trading in Texas Air, AMR and UAL.@@@@1@15@@oe@2-2-2013
21881047@unknown@formal@none@1@S@Overall, his investments so far this year are showing gains of about 20%, he adds.@@@@1@15@@oe@2-2-2013
21881048@unknown@formal@none@1@S@Does Mr. Steinhardt regret his incursion into the takeover-threat game?@@@@1@10@@oe@2-2-2013
21881049@unknown@formal@none@1@S@People close to the investor say that was an experiment he is unlikely to repeat.@@@@1@15@@oe@2-2-2013
21881050@unknown@formal@none@1@S@"I don't think you'll find I'm making a radical change in my traditional investment style," Mr. Steinhardt says.@@@@1@18@@oe@2-2-2013
21882001@unknown@formal@none@1@S@Addington Resources Inc. said it called for redemption on Nov. 21 its $25.8 million outstanding of 8% convertible subordinated debentures due 2013.@@@@1@22@@oe@2-2-2013
21882002@unknown@formal@none@1@S@The debentures were issued in the face amount of $46 million on July 11, 1988, the Ashland, Ky., coal mining, water transportation and construction company said.@@@@1@26@@oe@2-2-2013
21882003@unknown@formal@none@1@S@The company said the redemption is permitted because the price of Addington's stock has equaled or exceeded $19.60 for 20 consecutive trading days, a condition set in the terms of the debentures.@@@@1@32@@oe@2-2-2013
21882004@unknown@formal@none@1@S@Debenture holders are expected to convert most of the debentures into common because the value of the stock received in a conversion would exceed the $1,103.11 redemption price.@@@@1@28@@oe@2-2-2013
21883001@unknown@formal@none@1@S@Commodore International Ltd. said it will report a loss for the first quarter ended Sept. 30 because sales of personal computers for the home market remained weak in some major countries.@@@@1@31@@oe@2-2-2013
21883002@unknown@formal@none@1@S@That will mark the second consecutive quarterly loss for Commodore and will raise additional questions about whether it can sustain the turnaround it had seemed to be engineering.@@@@1@28@@oe@2-2-2013
21883003@unknown@formal@none@1@S@Commodore, West Chester, Pa., had said in August that it was consolidating manufacturing to cut costs and expected to be profitable in the fiscal first quarter.@@@@1@26@@oe@2-2-2013
21883004@unknown@formal@none@1@S@Commodore said that its announcement is based on preliminary information and that the situation could look different by the time final results are announced early next month.@@@@1@27@@oe@2-2-2013
21883005@unknown@formal@none@1@S@In fact, Commodore's fiscal fourth-quarter loss was $2 million narrower than Commodore had expected a few weeks after the quarter closed.@@@@1@21@@oe@2-2-2013
21883006@unknown@formal@none@1@S@Still, even results approaching break-even would mark a sharp weakening compared with fiscal 1989 first-quarter earnings of $9.6 million, or 30 cents a share, on sales of $200.2 million.@@@@1@29@@oe@2-2-2013
21883007@unknown@formal@none@1@S@Reflecting concerns about Commodore's outlook, its stock has plunged more than 50% since May, closing yesterday unchanged at $8.875 a share in composite trading on the New York Stock Exchange.@@@@1@30@@oe@2-2-2013
21883008@unknown@formal@none@1@S@The price can be expected to erode further, because the loss estimate came after the market closed.@@@@1@17@@oe@2-2-2013
21883009@unknown@formal@none@1@S@Commodore has seemed to be setting the stage recently for progress in the U.S., where its personal-computer sales have been so dismal for years that Commodore is close to dropping off research firms' market-share charts.@@@@1@35@@oe@2-2-2013
21883010@unknown@formal@none@1@S@Commodore has assembled an experienced management team, it has persuaded many more dealers to carry its products and it has unleashed a slick advertising campaign.@@@@1@25@@oe@2-2-2013
21883011@unknown@formal@none@1@S@But those represent long-term strategies that probably won't succeed quickly, even if they turn out to be the right ones.@@@@1@20@@oe@2-2-2013
21883012@unknown@formal@none@1@S@In the meantime, the strategies will increase expenses.@@@@1@8@@oe@2-2-2013
21883013@unknown@formal@none@1@S@Commodore had been counting on its consumer business to stay sufficiently healthy to support its efforts in other areas -- mainly in getting schools and businesses to use its Amiga, which has slick graphics yet has been slow to catch on because it isn't compatible with Apple Computer Inc. or International Business Machines Corp. hardware.@@@@1@55@@oe@2-2-2013
21883014@unknown@formal@none@1@S@But sales to consumers have become difficult during the past several months, even in West Germany, which has been by far Commodore's strongest market.@@@@1@24@@oe@2-2-2013
21883015@unknown@formal@none@1@S@The Commodore 64 and 128, mainly used for children's educational software and games, had surprised market researchers by continuing to produce strong sales even though other low-profit personal computers now operate several times as fast and have much more memory.@@@@1@40@@oe@2-2-2013
21883016@unknown@formal@none@1@S@Commodore has said it expects sales to rebound, but market researchers have said that sales of the low-end products may finally be trailing off.@@@@1@24@@oe@2-2-2013
21884001@unknown@formal@none@1@S@Stock prices closed slightly higher in the first routine trading day since Friday's big plunge.@@@@1@15@@oe@2-2-2013
21884002@unknown@formal@none@1@S@Some issues were affected by Tuesday's devastating earthquake in the San Francisco area.@@@@1@13@@oe@2-2-2013
21884003@unknown@formal@none@1@S@Activity continued to slow from the hectic pace set during the market's plunge late Friday and its rebound Monday, as players began to set their sights on events coming later this week.@@@@1@32@@oe@2-2-2013
21884004@unknown@formal@none@1@S@The Dow Jones Industrial Average drifted through the session within a trading range of about 30 points before closing with a gain of 4.92 at 2643.65.@@@@1@26@@oe@2-2-2013
21884005@unknown@formal@none@1@S@Broader averages also posted modest gains.@@@@1@6@@oe@2-2-2013
21884006@unknown@formal@none@1@S@Standard & Poor's 500-Stock Index rose 0.60 to 341.76, the Dow Jones Equity Market Index rose 0.71 to 320.54 and the New York Stock Exchange Composite Index gained 0.43 to 189.32.@@@@1@31@@oe@2-2-2013
21884007@unknown@formal@none@1@S@Some 822 New York Stock Exchange issues advanced in price, while 668 declined.@@@@1@13@@oe@2-2-2013
21884008@unknown@formal@none@1@S@But the Dow Jones Transportation Average went down for the seventh consecutive session, due largely to further selling in UAL.@@@@1@20@@oe@2-2-2013
21884009@unknown@formal@none@1@S@The average dropped 6.40 to 1247.87 and has now lost 21.7% of its value since the losing streak began Oct. 10.@@@@1@21@@oe@2-2-2013
21884010@unknown@formal@none@1@S@Big Board volume dropped to 166,900,000 shares, in line with the level of trading over the past few weeks, from 224.1 million Tuesday.@@@@1@23@@oe@2-2-2013
21884011@unknown@formal@none@1@S@Traders cited anticipation of the consumer price report for September, due today, and tomorrow's expiration of October stock-index futures and options as major factors in the slowdown.@@@@1@27@@oe@2-2-2013
21884012@unknown@formal@none@1@S@In addition, activity at a number of San Francisco-based brokerage houses was curtailed as a result of the earthquake, which knocked out power lines and telephone service throughout the Bay area.@@@@1@31@@oe@2-2-2013
21884013@unknown@formal@none@1@S@Stocks retreated to session lows just after the opening amid worries about the market impact of the quake, but quickly snapped back to higher levels with the help of futures-related program buying.@@@@1@32@@oe@2-2-2013
21884014@unknown@formal@none@1@S@The early move essentially established the day's trading range, and traders said they saw little of the program activity that has battered the market recently.@@@@1@25@@oe@2-2-2013
21884015@unknown@formal@none@1@S@"I didn't expect it to be this quiet.@@@@1@8@@oe@2-2-2013
21884016@unknown@formal@none@1@S@I expected to see more volatility as some of the institutions who were spooked last Friday did some selling," said Raymond F. DeVoe, a market strategist at Legg Mason Wood Walker, Baltimore.@@@@1@32@@oe@2-2-2013
21884017@unknown@formal@none@1@S@Mr. DeVoe said he expects prices to show some renewed instability over the next few sessions as institutions re-evaluate their stance toward the market in light of its decline.@@@@1@29@@oe@2-2-2013
21884018@unknown@formal@none@1@S@"I would suspect that a lot of investment committees are looking into whether (they) want to be in stocks at all," he said.@@@@1@23@@oe@2-2-2013
21884019@unknown@formal@none@1@S@Insurance stocks were sold at the opening amid concerns about the level of damage claims the companies would receive as a result of the earthquake.@@@@1@25@@oe@2-2-2013
21884020@unknown@formal@none@1@S@But those issues recovered quickly and turned higher because of expectations that the quake and the recent Hurricane Hugo would set the stage for an increase in premium rates.@@@@1@29@@oe@2-2-2013
21884021@unknown@formal@none@1@S@Issues of insurance brokers were especially strong.@@@@1@7@@oe@2-2-2013
21884022@unknown@formal@none@1@S@Marsh & McLennan advanced 3 1/8 to 75 7/8, Alexander & Alexander Services climbed 2 to 32 and Corroon & Black firmed 1 7/8 to 37 1/2.@@@@1@27@@oe@2-2-2013
21884023@unknown@formal@none@1@S@Elsewhere in the group, General Re rose 2 3/4 to 86 1/2, American International Group gained 3 1/4 to 102 5/8, Aetna Life & Casualty added 2 3/8 to 59 1/2 and Cigna advanced 7/8 to 62 1/2.@@@@1@38@@oe@2-2-2013
21884024@unknown@formal@none@1@S@Loews, the parent of CNA Financial, rose 1 3/8 to 123 1/8.@@@@1@12@@oe@2-2-2013
21884025@unknown@formal@none@1@S@Companies in the construction, engineering and building-products sectors were among other beneficiaries of earthquake-related buying.@@@@1@15@@oe@2-2-2013
21884026@unknown@formal@none@1@S@The heavy-construction sector was the session's best performer among Dow Jones industry groups; Fluor rose 3/4 to 33 3/8, Morrison Knudsen gained 2 1/4 to 44 1/8, Foster Wheeler added 3/8 to 18 1/4 and Ameron climbed 2 3/8 to 39 3/4.@@@@1@42@@oe@2-2-2013
21884027@unknown@formal@none@1@S@Among engineering firms, CRS Sirrine rose 5/8 to 34 1/4 on the Big Board and four others rallied on the American Stock Exchange: Jacobs Engineering Group, which gained 1 1/8 to 25 3/8, Greiner Engineering, which rose 3 1/2 to 22 1/2; Michael Baker, which added 1 1/4 to 15 1/4, and American Science & Engineering, up 1/2 to 8 1/2.@@@@1@61@@oe@2-2-2013
21884028@unknown@formal@none@1@S@Within the building-materials group, Georgia-Pacific climbed 1 1/4 to 58 and Louisiana-Pacific added 1 to 40 3/4 after Merrill Lynch recommended the forest-products issues.@@@@1@24@@oe@2-2-2013
21884029@unknown@formal@none@1@S@CalMat advanced 2 3/4 to 28 3/4, Lone Star Industries gained 1 3/4 to 29 1/4, Lafarge rose 1 to 19 1/2, Southdown added 5/8 to 24 5/8 and Eljer Industries rose 1 1/4 to 24 7/8.@@@@1@37@@oe@2-2-2013
21884030@unknown@formal@none@1@S@Pacific Gas & Electric fell 3/8 to 19 5/8 in Big Board composite trading of 1.7 million shares and Pacific Telesis Group slipped 5/8 to 44 5/8 as the companies worked to restore service to areas affected by the quake.@@@@1@40@@oe@2-2-2013
21884031@unknown@formal@none@1@S@Chevron added 1 to 65.@@@@1@5@@oe@2-2-2013
21884032@unknown@formal@none@1@S@The company, based in San Francisco, said it had to shut down a crude-oil pipeline in the Bay area to check for leaks but added that its refinery in nearby Richmond, Calif., was undamaged.@@@@1@34@@oe@2-2-2013
21884033@unknown@formal@none@1@S@Other companies based in the area include Hewlett-Packard, which rose 1/4 to 49; National Semiconductor, which went up 1/4 to 7 5/8, and Genentech, which eased 1/4 to 19 5/8.@@@@1@30@@oe@2-2-2013
21884034@unknown@formal@none@1@S@None of the firms reported any major damage to facilities as a result of the quake.@@@@1@16@@oe@2-2-2013
21884035@unknown@formal@none@1@S@BankAmerica eased 1/2 to 31 7/8 and Wells Fargo lost 1/2 to 81 1/2; the two bank holding companies, based in San Francisco, were forced to curtail some operations due to the temblor.@@@@1@33@@oe@2-2-2013
21884036@unknown@formal@none@1@S@Among California savings-and-loan stocks, H.F. Ahmanson eased 3/8 to 22 1/4, CalFed slid 3/4 to 24 1/8, Great Western Financial dropped 1/2 to 21 1/4 and Golden West Financial fell 5/8 to 29 1/4.@@@@1@34@@oe@2-2-2013
21884037@unknown@formal@none@1@S@UAL, the parent company of United Airlines, swung within a 14-point range during the course of the session before closing at 191 3/4, down 6 1/4, on 2.3 million shares.@@@@1@30@@oe@2-2-2013
21884038@unknown@formal@none@1@S@British Airways, a member of the group that had offered $300 a share for UAL in a leveraged buy-out, said it had yet to receive a revised proposal and it was "in no way committed" to the completion of a bid.@@@@1@41@@oe@2-2-2013
21884039@unknown@formal@none@1@S@Separately, investor Marvin Davis withdrew his backup $300-a-share takeover offer.@@@@1@10@@oe@2-2-2013
21884040@unknown@formal@none@1@S@While UAL faltered, AMR, the parent of American Airlines, pulled out of its recent nosedive by rising 3/4 to 74.@@@@1@20@@oe@2-2-2013
21884041@unknown@formal@none@1@S@The stock had been on the decline since the financing for the UAL buy-out fell through on Friday and developer Donald Trump subsequently withdrew a takeover offer of $120 a share for AMR.@@@@1@33@@oe@2-2-2013
21884042@unknown@formal@none@1@S@Also, AMR was the most active Big Board issue; 2.8 million shares changed hands.@@@@1@14@@oe@2-2-2013
21884043@unknown@formal@none@1@S@GTE added 1 1/4 to 65 3/8.@@@@1@7@@oe@2-2-2013
21884044@unknown@formal@none@1@S@PaineWebber repeated a buy recommendation on the stock and raised its 1990 earnings estimate by 35 cents a share, to $5.10.@@@@1@21@@oe@2-2-2013
21884045@unknown@formal@none@1@S@Colgate-Palmolive advanced 1 5/8 to 63 after saying it was comfortable with analysts' projections that third-quarter net income from continuing operations would be between 95 cents and $1.05 a share, up from 69 cents a year ago.@@@@1@37@@oe@2-2-2013
21884046@unknown@formal@none@1@S@Springs Industries dropped 1 3/8 to 36.@@@@1@7@@oe@2-2-2013
21884047@unknown@formal@none@1@S@Analysts at several brokerage firms lowered their 1989 and 1990 earnings estimates on the company after its third-quarter results proved disappointing.@@@@1@21@@oe@2-2-2013
21884048@unknown@formal@none@1@S@Trinova third-quarter loss after a charge for a planned restructuring, which will include the closing or downsizing of about 25% of its plants and a work force cut of about 1,500 over three years.@@@@1@34@@oe@2-2-2013
21884049@unknown@formal@none@1@S@The Amex Market Value Index snapped a five-session losing streak by rising 2.91 to 378.07.@@@@1@15@@oe@2-2-2013
21884050@unknown@formal@none@1@S@Volume totaled 12,500,000 shares.@@@@1@4@@oe@2-2-2013
21884051@unknown@formal@none@1@S@Carnival Cruise Lines Class A rose 1 1/4 to 22 3/8.@@@@1@11@@oe@2-2-2013
21884052@unknown@formal@none@1@S@The company, citing market conditions, postponed a $200 million debt offer.@@@@1@11@@oe@2-2-2013
21885001@unknown@formal@none@1@S@Philip Morris Cos. posted a 20% jump in third-quarter profit on a 45% revenue increase, reflecting strength in the company's cigarette, food and brewing businesses.@@@@1@25@@oe@2-2-2013
21885002@unknown@formal@none@1@S@Net income rose to $748 million, or 81 cents a share, from the year-earlier $621 million, or 67 cents a share.@@@@1@21@@oe@2-2-2013
21885003@unknown@formal@none@1@S@Per-share figures have been adjusted for a 4-for-1 stock split paid earlier this month.@@@@1@14@@oe@2-2-2013
21885004@unknown@formal@none@1@S@The New York-based tobacco, food and beer concern said revenue increased to $11.25 billion from $7.74 billion.@@@@1@17@@oe@2-2-2013
21885005@unknown@formal@none@1@S@In composite trading on the New York Stock Exchange, Philip Morris closed at $43.375, up 12.5 cents.@@@@1@17@@oe@2-2-2013
21885006@unknown@formal@none@1@S@Philip Morris disclosed little detailed information about performance by major business lines except to say that most, including Philip Morris U.S.A., Kraft General Foods and Miller Brewing Co., posted increased revenues.@@@@1@31@@oe@2-2-2013
21885007@unknown@formal@none@1@S@For the nine months, net increased 4.4% to $2.08 billion, or $2.25 a share, from $2 billion, which included $273 million reflecting the effect of an accounting change.@@@@1@28@@oe@2-2-2013
21886001@unknown@formal@none@1@S@Granges Inc., citing depressed gold prices, said it plans to suspend operations for an indefinite period at its Tartan gold mine in Manitoba.@@@@1@23@@oe@2-2-2013
21886002@unknown@formal@none@1@S@Granges said in Vancouver, British Columbia, that the production halt will be phased in over a 10-week period.@@@@1@18@@oe@2-2-2013
21886003@unknown@formal@none@1@S@Tartan currently produces gold at a cash operating cost of $393 an ounce, which is high by industry standards and $25 or so above the current spot price.@@@@1@28@@oe@2-2-2013
21886004@unknown@formal@none@1@S@Granges said it also plans in the third quarter to write down the carrying value of the Tartan mine by 2.5 million Canadian dollars (US$ 2.12 million), and to write off most of the C$6.3 million carrying value of its Windflower gold property in British Columbia.@@@@1@46@@oe@2-2-2013
21886005@unknown@formal@none@1@S@Granges didn't say what impact the moves would have on total gold output or earnings, and company officials weren't available.@@@@1@20@@oe@2-2-2013
21887001@unknown@formal@none@1@S@Computer Associates International Inc., Garden City, N.Y., and Digital Equipment Corp. said they agreed to jointly develop software to help manage Digital's Vax computers.@@@@1@24@@oe@2-2-2013
21887002@unknown@formal@none@1@S@Computer Associates has carved out a huge business selling such software for use in managing networks of International Business Machines Corp. computers but needs to find new markets if it is to maintain its growth rate of 30% and more each year.@@@@1@42@@oe@2-2-2013
21887003@unknown@formal@none@1@S@The market for system-management software for Digital's hardware is fragmented enough that a giant such as Computer Associates should do well there.@@@@1@22@@oe@2-2-2013
21887004@unknown@formal@none@1@S@At the same time, the market is smaller than the market for IBM-compatible software.@@@@1@14@@oe@2-2-2013
21887005@unknown@formal@none@1@S@For one thing, Digital, Maynard, Mass., has sold fewer machines.@@@@1@10@@oe@2-2-2013
21887006@unknown@formal@none@1@S@In addition, its machines are typically easier to operate, so customers require less assistance from software.@@@@1@16@@oe@2-2-2013
21888001@unknown@formal@none@1@S@Wang Laboratories Inc., Lowell, Mass., beset by declining demand for its computers, reported a $62.1 million, 38-cents-a-share loss in its first quarter ended Sept. 30.@@@@1@25@@oe@2-2-2013
21888002@unknown@formal@none@1@S@Revenue fell 12.7% to $596.8 million from $684 million, although some of the decline was caused by discontinued operations.@@@@1@19@@oe@2-2-2013
21888003@unknown@formal@none@1@S@Wang had previously forecast a loss.@@@@1@6@@oe@2-2-2013
21888004@unknown@formal@none@1@S@The company reiterated that it expects another loss in the second quarter and for the full year, although it expects a profitable fourth quarter.@@@@1@24@@oe@2-2-2013
21888005@unknown@formal@none@1@S@A year ago, Wang had earnings of $13.1 million, or eight cents a share, in its first quarter, including a $3.1 million loss from discontinued operations.@@@@1@26@@oe@2-2-2013
21888006@unknown@formal@none@1@S@The latest period loss included a $12.9 pretax charge for severance payments.@@@@1@12@@oe@2-2-2013
21889001@unknown@formal@none@1@S@Dayton Hudson Corp. said it accepted for purchase seven million common shares at $62.875 each, under the terms of a Dutch auction self-tender offer.@@@@1@24@@oe@2-2-2013
21889002@unknown@formal@none@1@S@The offer expired at 12:01 a.m. yesterday.@@@@1@7@@oe@2-2-2013
21889003@unknown@formal@none@1@S@In a Dutch auction, the buyer sets a price range and holders give a price in that range at which they're willing to sell their shares.@@@@1@26@@oe@2-2-2013
21889004@unknown@formal@none@1@S@The buyer then picks a price and buys shares at that price from holders who offered to sell at that price or lower.@@@@1@23@@oe@2-2-2013
21889005@unknown@formal@none@1@S@Dayton Hudson's repurchase offer, representing about 9% of its common shares outstanding, had established a range of between $60 and $65 for the buy-back.@@@@1@24@@oe@2-2-2013
21889006@unknown@formal@none@1@S@Dayton Hudson said it accepted all odd-lot shares tendered at or below the final $62.875 price; the preliminary proration factor for other shares tendered at or below the final price is 98%.@@@@1@32@@oe@2-2-2013
21889007@unknown@formal@none@1@S@The Minneapolis-based retailer said it expects to pay for the seven million shares next Thursday.@@@@1@15@@oe@2-2-2013
21889008@unknown@formal@none@1@S@Tendered shares not purchased will be returned to holders.@@@@1@9@@oe@2-2-2013
21889009@unknown@formal@none@1@S@In New York Stock Exchange composite trading, Dayton rose $1 to $61.125.@@@@1@12@@oe@2-2-2013
21890001@unknown@formal@none@1@S@Continental Bank Corp.'s third-quarter net income slipped 11% despite a big gain from the sale of the company's London headquarters building.@@@@1@21@@oe@2-2-2013
21890002@unknown@formal@none@1@S@The $55 million gain on the sale was offset by lower interest income, poorer results from foreign-exchange trading and a $9 million loss on the sale of a unit, Securities Settlement Corp.@@@@1@32@@oe@2-2-2013
21890003@unknown@formal@none@1@S@Chicago-based Continental earned $65.2 million, or $1.04 a share, compared with $73.6 million, or $1.19 a share, a year earlier.@@@@1@20@@oe@2-2-2013
21890004@unknown@formal@none@1@S@The 1988 quarter also included one-time gains totaling about $35 million.@@@@1@11@@oe@2-2-2013
21890005@unknown@formal@none@1@S@The bank, which has loss reserves equal to about half its long-term and medium-term loans to less-developed nations, said it doesn't think additional reserves are required.@@@@1@26@@oe@2-2-2013
21891001@unknown@formal@none@1@S@Enron Corp. said a subsidiary and two United Kingdom firms are studying the feasibility of constructing a 1,500 megawatt gas-fired power plant in northern England as an outgrowth of the government's privatization program.@@@@1@33@@oe@2-2-2013
21891002@unknown@formal@none@1@S@Enron Power Corp., a unit of the Houston natural gas pipeline company, would design, construct and run the plant.@@@@1@19@@oe@2-2-2013
21891003@unknown@formal@none@1@S@Gas to fuel it would be piped from the North Sea.@@@@1@11@@oe@2-2-2013
21891004@unknown@formal@none@1@S@A subsidiary of Britain's Imperial Chemical Industries would buy electricity and steam from the proposed station.@@@@1@16@@oe@2-2-2013
21891005@unknown@formal@none@1@S@Surplus power would be sold on the open market, Enron said.@@@@1@11@@oe@2-2-2013
21891006@unknown@formal@none@1@S@Also participating in the study, Enron said, is the National Power division of Britain's Central Electricity Generating Board.@@@@1@18@@oe@2-2-2013
21891007@unknown@formal@none@1@S@Upon privatization, National Power will be responsible for 70% of the country's power generating business.@@@@1@15@@oe@2-2-2013
21892001@unknown@formal@none@1@S@Viacom Inc., New York, reported that its third-quarter loss widened to $21.7 million, or 41 cents a share, primarily because of interest expense of $70.1 million.@@@@1@26@@oe@2-2-2013
21892002@unknown@formal@none@1@S@A year ago, Viacom had a net loss of $56.9 million, or $1.07 a share.@@@@1@15@@oe@2-2-2013
21892003@unknown@formal@none@1@S@Interest expense in the 1988 third quarter was $75.3 million.@@@@1@10@@oe@2-2-2013
21892004@unknown@formal@none@1@S@In the year-ago quarter, Viacom also paid preferred stock dividends of $17 million; Viacom exchanged its preferred stock for debt in March.@@@@1@22@@oe@2-2-2013
21892005@unknown@formal@none@1@S@The communications and entertainment company said revenue rose to $345.5 million, from $311.6 million.@@@@1@14@@oe@2-2-2013
21892006@unknown@formal@none@1@S@Viacom attributed the improvement to higher earnings from operations in its networks segment, which includes the MTV and Showtime networks.@@@@1@20@@oe@2-2-2013
21892007@unknown@formal@none@1@S@Viacom said it also restructured bank debt under a $1.5 billion unsecured bank agreement that offers significant interest rate savings.@@@@1@20@@oe@2-2-2013
21892008@unknown@formal@none@1@S@Sumner M. Redstone, Viacom's chairman, said Viacom "emerged from our leveraged buy-out structure and gained substantial operating and financial flexibility through" the bank pact.@@@@1@24@@oe@2-2-2013
21893001@unknown@formal@none@1@S@Trinova Corp., Maumee, Ohio, said it is launching an extensive restructuring of its core business, and took a charge that resulted in a loss of $29.7 million, or 87 cents a share, for the third quarter.@@@@1@36@@oe@2-2-2013
21893002@unknown@formal@none@1@S@Trinova said it will close, move or overhaul 40 of its 170 manufacturing facilities and over the next three years cut 1,500 jobs from its current world-wide payroll of 22,300 employees.@@@@1@31@@oe@2-2-2013
21893003@unknown@formal@none@1@S@Most of the factory closings and job cutbacks will affect Trinova's Aeroquip operations, which manufacture automotive plastics, hoses and other industrial and automotive parts.@@@@1@24@@oe@2-2-2013
21893004@unknown@formal@none@1@S@Hoses and plastics together account for about 42% of Trinova's total annual sales.@@@@1@13@@oe@2-2-2013
21893005@unknown@formal@none@1@S@In a separate announcement, Trinova said the Aeroquip group has agreed to sell its spring-brake, piston-brake and related businesses to Midland Brake Inc. of Branford, Conn.@@@@1@26@@oe@2-2-2013
21893006@unknown@formal@none@1@S@Terms weren't disclosed.@@@@1@3@@oe@2-2-2013
21893007@unknown@formal@none@1@S@To provide for the restructuring's costs, Trinova said it took an after-tax charge of $38.5 million, or $1.13 a share, in the third quarter.@@@@1@24@@oe@2-2-2013
21893008@unknown@formal@none@1@S@The $29.7 million net loss compares with net income of $19.6 million, or 57 cents a share, a year earlier.@@@@1@20@@oe@2-2-2013
21893009@unknown@formal@none@1@S@Sales rose 8% to $456.2 million from $422 million.@@@@1@9@@oe@2-2-2013
21893010@unknown@formal@none@1@S@Trinova closed at $25, down $1, in New York Stock Exchange composite trading.@@@@1@13@@oe@2-2-2013
21894001@unknown@formal@none@1@S@A group of investors, including Giancarlo Parretti's Pathe Communications Corp. and Sasea Holding S.A., have agreed to buy 76.66% of Odeon Finanziaria, a financially troubled Italian TV station.@@@@1@28@@oe@2-2-2013
21894002@unknown@formal@none@1@S@Florio Fiorini, managing director of Geneva-based Sasea, said the investors would pay only a symbolic one lira for the station, "but we have agreed to raise the capital that will enable the company to continue operating.@@@@1@36@@oe@2-2-2013
21894003@unknown@formal@none@1@S@It's sort of a Chapter 11 situation," he added, referring to the U.S. bankruptcy law that protects companies from creditors while they restructure.@@@@1@23@@oe@2-2-2013
21894004@unknown@formal@none@1@S@Milan-based Odeon, which draws about 3% of Italian TV viewers, has debt of 250 billion lire ($181.9 million), Mr. Fiorini said.@@@@1@21@@oe@2-2-2013
21894005@unknown@formal@none@1@S@He added that details of the recapitalization still have to be worked out, but that Pathe will take 50% of Odeon, Rome film producer Bruno Lucisano will take 10% and the remaining 16.66%, currently owned by Sasea, will eventually be sold to other investors.@@@@1@44@@oe@2-2-2013
21894006@unknown@formal@none@1@S@Calisto Tanzi, Odeon's owner, will retain his 23.34% stake.@@@@1@9@@oe@2-2-2013
21894007@unknown@formal@none@1@S@Italy's Supreme Court this year ordered Parliament to write a law that will regulate media ownership.@@@@1@16@@oe@2-2-2013
21894008@unknown@formal@none@1@S@"We think that it's going to be far more favorable to own a station before the law is passed than to try to buy one afterward," Mr. Fiorini said.@@@@1@29@@oe@2-2-2013
21895001@unknown@formal@none@1@S@San Francisco area officials gave the media high marks for helping people find shelter and obtain emergency information after Tuesday's catastrophic earthquake.@@@@1@22@@oe@2-2-2013
21895002@unknown@formal@none@1@S@"The press has been doing an excellent job.@@@@1@8@@oe@2-2-2013
21895003@unknown@formal@none@1@S@They are telling people what roads are closed and just keeping the public informed has helped to keep the panic down," said James Ball, a station supervisor at Daly City Police Department.@@@@1@32@@oe@2-2-2013
21895004@unknown@formal@none@1@S@Mr. Ball noted that television stations featured people holding up phone books, explaining where to call for help.@@@@1@18@@oe@2-2-2013
21895005@unknown@formal@none@1@S@Radio stations provided an emergency number for people who smelled gas but didn't know how to turn off their gas supply.@@@@1@21@@oe@2-2-2013
21895006@unknown@formal@none@1@S@Kim Schwartz, a spokesperson for the American Red Cross in Los Angeles, said television and radio stations in San Francisco played a "very positive role" by providing the address of 28 shelters of the Red Cross and by giving out the Red Cross number for contributions to help earthquake victims (1-800-453-9000).@@@@1@51@@oe@2-2-2013
21895007@unknown@formal@none@1@S@The San Francisco Examiner issued a special edition around noon yesterday that was filled entirely with earthquake news and information.@@@@1@20@@oe@2-2-2013
21895008@unknown@formal@none@1@S@The Examiner and the San Francisco Chronicle were able to publish despite Tuesday's quake, which occurred close to deadline for many newspapers.@@@@1@22@@oe@2-2-2013
21896001@unknown@formal@none@1@S@Sterling Software Inc. said it lost its bid to supply software services to the National Aeronautics and Space Administration's Ames Research Center at Moffett Field, Calif.@@@@1@26@@oe@2-2-2013
21896002@unknown@formal@none@1@S@Sterling, which estimated the value of the contract at $150 million, said NASA selected another bidder for final negotiations.@@@@1@19@@oe@2-2-2013
21896003@unknown@formal@none@1@S@In 1988, Dallas-based Sterling protested a similar decision by NASA involving the same contract, claiming it had submitted the lowest bid.@@@@1@21@@oe@2-2-2013
21896004@unknown@formal@none@1@S@As a result, last March the General Services Administration board of contract appeals directed NASA to reopen negotiations on the contract.@@@@1@21@@oe@2-2-2013
21896005@unknown@formal@none@1@S@Sterling said it had requested a briefing by NASA but had not decided whether to protest the agency's latest decision.@@@@1@20@@oe@2-2-2013
21897001@unknown@formal@none@1@S@Consolidated Rail Corp., New York, reported that third-quarter net income climbed 4.8% to $87 million, or $1.27 a share, exceeding analysts' expectations.@@@@1@22@@oe@2-2-2013
21897002@unknown@formal@none@1@S@In the year-earlier quarter, the freight railroad earned $83 million, or $1.21 a share.@@@@1@14@@oe@2-2-2013
21897003@unknown@formal@none@1@S@James A. Hagen, chairman and chief executive officer, noted that earnings advanced "in the face of a drop in business, brought on by the general economic slowdown."@@@@1@27@@oe@2-2-2013
21897004@unknown@formal@none@1@S@Revenue slipped 4.6% to $835 million from $876 million.@@@@1@9@@oe@2-2-2013
21897005@unknown@formal@none@1@S@For the rest of 1989, Mr. Hagen said, Conrail's traffic and revenue "will reflect the sluggish economy, but Conrail will continue to take steps to control and reduce costs."@@@@1@29@@oe@2-2-2013
21897006@unknown@formal@none@1@S@For the nine months, Conrail earnings grew 0.4% to $229 million, or $3.34 a share, from $228 million, or $3.31 a share.@@@@1@22@@oe@2-2-2013
21897007@unknown@formal@none@1@S@Revenue was flat at $2.59 billion.@@@@1@6@@oe@2-2-2013
21898001@unknown@formal@none@1@S@Georgia Gulf Corp., hurt by declining sales and falling chemical prices, said third-quarter earnings fell 13% to $46.1 million from $53.1 million in the year-earlier period.@@@@1@26@@oe@2-2-2013
21898002@unknown@formal@none@1@S@Sales declined 10% to $251.2 million from $278.7 million.@@@@1@9@@oe@2-2-2013
21898003@unknown@formal@none@1@S@The Atlanta-based chemical manufacturer said lower prices hurt margins for most products.@@@@1@12@@oe@2-2-2013
21898004@unknown@formal@none@1@S@"We did see some relief in raw material costs, but it wasn't sufficient to offset the drop in sales prices," James R. Kuse, the company's chairman and chief executive officer said in a statement.@@@@1@34@@oe@2-2-2013
21898005@unknown@formal@none@1@S@On a per-share basis, quarterly earnings remained at $1.85, the same as last year, because of the company's share buy-back program.@@@@1@21@@oe@2-2-2013
21898006@unknown@formal@none@1@S@Georgia Gulf had 24.9 million shares outstanding on average in the quarter, compared with 28.6 million in the third quarter of 1988, adjusted for a stock split paid in January 1989.@@@@1@31@@oe@2-2-2013
21898007@unknown@formal@none@1@S@In composite New York Stock Exchange trading, stock in Georgia Gulf, which has been mentioned as a takeover candidate, rose $2.125 a share to close at $46.125.@@@@1@27@@oe@2-2-2013
21899001@unknown@formal@none@1@S@This temblor-prone city dispatched inspectors, firefighters and other earthquake-trained personnel to aid San Francisco.@@@@1@14@@oe@2-2-2013
21899002@unknown@formal@none@1@S@But a secondary agenda among officials in the City of Angels was to learn about the disaster-contingency plans that work and those that don't.@@@@1@24@@oe@2-2-2013
21899003@unknown@formal@none@1@S@Los Angeles Mayor Tom Bradley used the opportunity to push the City Council harder to pass a measure establishing a loss-recovery reserve of $100 million.@@@@1@25@@oe@2-2-2013
21899004@unknown@formal@none@1@S@The amount would help Los Angeles cope in the first few weeks after its own anticipated quake, while waiting for federal assistance to arrive.@@@@1@24@@oe@2-2-2013
21899005@unknown@formal@none@1@S@After San Francisco Mayor Art Agnos spoke on television of the need for building inspectors to check the soundness of buildings, Los Angeles dispatched 32 inspectors to help.@@@@1@28@@oe@2-2-2013
21899006@unknown@formal@none@1@S@And the county of Los Angeles placed its firefighters and sheriffs on alert, ready to send in reinforcements, and alerted San Francisco that the city has 1,000 hospital beds at its disposal.@@@@1@32@@oe@2-2-2013
21899007@unknown@formal@none@1@S@Two Los Angeles radio stations initiated Red Cross donation campaigns, and one Los Angeles bank manager forked over $150,000 of his own money for relief purposes, the Red Cross said.@@@@1@30@@oe@2-2-2013
21899008@unknown@formal@none@1@S@The Los Angeles Red Cross sent 2,480 cots, 500 blankets, and 300 pints of Type-O blood.@@@@1@16@@oe@2-2-2013
21899009@unknown@formal@none@1@S@It is also pulling 20 people out of Puerto Rico, who were helping Huricane Hugo victims, and sending them to San Francisco instead.@@@@1@23@@oe@2-2-2013