The DT Arizona NNP Corporations NNP Commission NNP authorized VBD an DT 11.5 CD % NN rate NN increase NN at IN Tucson NNP Electric NNP Power NNP Co. NNP , , substantially RB lower JJR than IN  recommended VBN  last JJ month NN by IN a DT commission NN hearing NN officer NN and CC barely RB half PDT the DT rise NN sought VBN  by IN the DT utility NN . .
The DT ruling NN follows VBZ a DT host NN of IN problems NNS at IN Tucson NNP Electric NNP , , including VBG major JJ write-downs NNS , , a DT 60 CD % NN slash NN in IN the DT common JJ stock NN dividend NN and CC the DT departure NN of IN former JJ Chairman NNP Einar NNP Greve NNP during IN a DT company NN investigation NN of IN his PRP$ stock NN sales NNS . .
The DT Arizona NNP regulatory JJ ruling NN calls VBZ for IN $ $ 42 CD million CD  in IN added JJ revenue NN yearly RB , , compared VBN with IN a DT $ $ 57 CD million CD  boost NN proposed VBN  by IN the DT commission NN hearing NN officer NN . .
The DT company NN had VBD sought VBN increases NNS totaling VBG $ $ 80.3 CD million CD  , , or CC 22 CD % NN . .
The DT decision NN was VBD announced VBN  after IN trading NN ended VBD . .
Tucson NNP Electric NNP closed VBD at IN $ $ 20.875 CD  a DT share NN , , down RB 25 CD cents NNS , , in IN New NNP York NNP Stock NNP Exchange NNP composite JJ trading NN . .
A DT Tucson NNP Electric NNP spokesman NN said VBD  the DT utility NN was VBD disappointed VBN by IN the DT commission NN 's POS decision NN and CC `` `` concerned JJ about IN the DT financial JJ integrity NN of IN the DT company NN . .
South JJ Korean JJ President NNP Roh NNP Tae NNP Woo NNP , ,  brushing VBG aside RP suggestions NNS that IN the DT won NN be VB revalued VBN  again RB , , said VBD  the DT currency NN 's POS current JJ level NN against IN the DT dollar NN is VBZ `` `` appropriate JJ . . '' ''
His PRP$ comments NNS , , made VBN  in IN response NN to TO reporters NNS ' POS questions NNS at IN the DT National NNP Press NNP Club NNP here RB , , signaled VBD that IN Seoul NNP is VBZ resisting VBG U.S. NNP pressure NN for IN a DT further JJR rise NN in IN the DT currency NN 's POS value NN . .
The DT U.S. NNP wants VBZ a DT higher JJR won NN  to TO make VB South NNP Korea NNP 's POS exports NNS more RBR expensive JJ and CC help VB  trim VB Seoul NNP 's POS trade NN surplus NN . .
Many JJ South JJ Korean JJ business NN people NNS want VBP a DT devaluation NN instead RB , ,  arguing VBG that IN the DT won VBN 's POS recent JJ gains NNS already RB have VBP weakened VBN the DT country NN 's POS export NN performance NN . .
Mr. NNP Roh NNP also RB said VBD  South NNP Korea NNP is VBZ taking VBG steps NNS that WDT  would MD free VB the DT won NN  to TO respond VB to TO market NN forces NNS . .
Seoul NNP has VBZ pointed VBN to TO its PRP$ lack NN of IN a DT foreign JJ exchange NN market NN as IN one CD reason NN  the DT won NN 's POS value NN remains VBZ heavily RB controlled VBN  . .
Mr. NNP Roh NNP said VBD  a DT U.S. NNP demand NN for IN the DT removal NN of IN South JJ Korean JJ import NN quotas NNS on IN beef NN will MD be VB resolved VBN  `` `` satisfactorily RB '' '' but CC gave VBD no DT hint NN when WRB that DT will MD happen VB  . .
 Speaking VBG to TO a DT joint JJ meeting NN of IN Congress NNP earlier RBR , , he PRP said VBD  South NNP Korea NNP ca MD n't RB move VB quickly RB on IN such JJ agricultural JJ trade NN issues NNS `` `` without IN  causing VBG political JJ and CC social JJ trauma NN . .
Great NNP American NNP Bank NNP said VBD  its PRP$ board NN approved VBD the DT formation NN of IN a DT holding NN company NN enabling VBG the DT savings NNS bank NN to TO pursue VB nontraditional JJ banking NN activities NNS under IN a DT new JJ federal JJ law NN . .
The DT proposed JJ holding NN company NN 's POS primary JJ purpose NN would MD be VB  to TO allow VB Great NNP American NNP to TO continue VB  engaging JJ in IN real JJ estate NN development NN activities NNS , , it PRP said VBD   . .
Those DT activities NNS generated VBD $ $ 26.1 CD million CD  in IN operating NN profit NN last JJ year NN . .
But CC according VBG to TO Great NNP American NNP , , such JJ profits NNS do VBP n't RB count VB toward IN  meeting VBG the DT San NNP Diego NNP savings NNS bank NN 's POS new JJ capitalization NN requirements NNS under IN 1989 CD federal JJ law NN . .
The DT new JJ real JJ estate NN unit NN would MD have VB a DT separate JJ capital NN structure NN  to TO comply VB with IN the DT law NN . .
The DT proposed JJ holding NN company NN would MD also RB consolidate VB Great NNP American NNP Bank NNP in IN San NNP Diego NNP and CC its PRP$ Tucson NNP , , Ariz. NNP , , savings NNS bank NN into IN a DT single JJ , , federally RB chartered JJ institution NN in IN San NNP Diego NNP . .
The DT consolidation NN is VBZ expected VBN  to TO save VB $ $ 1 CD million CD  a DT year NN in IN administrative JJ costs NNS , , a DT Great NNP American NNP spokesman NN said VBD   . .
Dale NNP Lang NNP , , who WP this DT week NN  completed VBD the DT acquisition NN of IN the DT publisher NN of IN Ms. NNP and CC Sassy NNP , , is VBZ candid JJ about IN the DT challenge NN  he PRP is VBZ taking VBG  on RP . .
Mr. NNP Lang NNP admits VBZ that DT Ms. NNP is VBZ `` `` in IN dire JJ straits NNS '' '' and CC that IN Sassy NNP needs VBZ big JJ promotional JJ dollars NNS   to TO keep VB it PRP alive JJ . .
But CC the DT 57-year-old JJ publisher NN has VBZ moved VBN quickly RB and CC boldly RB  to TO deal VB with IN the DT magazines NNS ' POS problems NNS . .
Last JJ Friday NNP , , he PRP told VBD the DT staff NN of IN Ms. NNP that IN the DT magazine NN in IN January NNP would MD begin VB  publishing VBG without IN advertising NN . .
Mr. NNP Lang NNP will MD do VB away RP with IN expensive JJ circulation NN drives VBZ , ,  not RB to TO mention VB sales NNS staff NN , , and CC attempt VB  to TO publish VB the DT 17-year-old JJ magazine NN  supported VBN  by IN circulation NN revenue NN alone RB . .
`` `` Any DT fool NN can MD publish VB a DT money-losing JJ magazine NN . .
I PRP want VBP  to TO publish VB one NN that WDT  succeeds VBZ , , '' '' said VBD  Mr. NNP Lang NNP . .
`` `` For IN Ms. NNP , , it PRP 's VBZ time NN   to TO publish VB for IN the DT reader NN , , not RB the DT advertiser NN  . . '' ''
As IN for IN Sassy NNP , , which WDT  competes VBZ directly RB with IN News NNP Corp. NNP 's POS Seventeen NNP magazine NN , , Mr. NNP Lang NNP says VBZ that IN in IN the DT next JJ two CD years NNS he PRP will MD spend VB $ $ 6 CD million CD   promoting VBG and CC improving VBG the DT magazine NN . .
Though NNP Sassy NNP has VBZ grown VBN quickly RB since IN its PRP$ debut NN in IN March NNP 1988 CD , , it PRP has VBZ been VBN the DT target NN of IN conservative JJ lobbyists NNS and CC skittish JJ advertisers NNS who WP  bristled VBD at IN its PRP$ frank JJ editorial JJ matter NN on IN teen-age JJ problems NNS . .
Mr. NNP Lang NNP said VBD  the DT former JJ Australian JJ owners NNS of IN Sassy NNP were VBD `` `` blind-sided JJ  by IN the DT Moral NNP Majority NNP ... : . .
Their PRP$ reaction NN was VBD  to TO do VB nothing NN and CC ride VB it PRP out RP . . '' ''
He PRP said VBD  Sassy NNP will MD keep VB its PRP$ irreverent JJ tone NN , , but CC added VBD , , `` `` We PRP will MD keep VB a DT close JJ watch NN on IN the DT editorial JJ content NN of IN the DT magazine NN . . '' ''
Sassy NNP already RB has VBZ recovered VBN ; : circulation NN has VBZ quickly RB passed VBN the DT 500,000 CD mark NN and CC advertising NN pages NNS have VBP stabilized VBN this DT year NN at IN more JJR than IN 300 CD . .
What WP  's VBZ more JJR , , Mr. NNP Lang NNP says VBZ  he PRP has VBZ what WP all DT publishers NNS wish VBP for IN  : : a DT bona JJ fide JJ niche NN . .
`` `` Seventeen NNP is VBZ written VBN  more RBR for IN mothers NNS , , not RB their PRP$ daughters NNS , , '' '' said VBD  Mr. NNP Lang NNP . .
`` `` But CC Sassy NNP has VBZ a DT different JJ spirit NN . .
It PRP gets VBZ more JJR mail NN  in IN a DT month NN than IN McCall NNP 's POS got VBD  in IN a DT year NN , , and CC it PRP 's VBZ not RB from IN mothers NNS . .
I PRP feel VBP about IN Sassy NNP like IN I PRP did VBD  about IN Working NNP Woman NNP 10 CD years NNS ago RB . . '' ''
Mr. NNP Lang NNP took VBD on RP Ms. NNP and CC Sassy NNP with IN the DT acquisition NN of IN Matilda NNP Publications NNP Inc. NNP by IN his PRP$ newly RB formed VBN Lang NNP Communications NNP . .
Lang NNP owns VBZ 70 CD % NN of IN Matilda NNP , , while IN Citicorp NNP owns VBZ the DT rest NN through IN its PRP$ Citicorp NNP Venture NNP Capital NNP Partners NNP . .
Two CD weeks NNS ago RB , , Citicorp NNP and CC Mr. NNP Lang NNP pumped VBD $ $ 800,000 CD  into IN Matilda NNP just RB  to TO keep VB the DT doors NNS open JJ . .
Industry NN observers NNS have VBP congratulated VBN Mr. NNP Lang NNP on IN what WP some DT call VB  his PRP$ `` `` courageous JJ '' '' handling NN of IN Ms. NNP , , but CC his PRP$ track NN record NN in IN magazine NN publishing NN in IN general JJ has VBZ gotten VBN mixed JJ reviews NNS . .
Besides IN Ms. NNP and CC Sassy NNP , , closely RB held VBN Lang NNP Communications NNP includes VBZ Success NNP , , a DT magazine NN for IN entrepreneurs NNS and CC small JJ businesses NNS , , and CC Working NNP Woman NNP and CC Working NNP Mother NNP , , two CD monthly JJ magazines NNS . .
Working NNP Woman NNP , , with IN circulation NN near IN one CD million CD , , and CC Working NNP Mother NNP , , with IN 625,000 CD circulation NN , , are VBP legitimate JJ magazine NN success NN stories NNS . .
The DT magazine NN Success NNP , , however RB , , was VBD for IN years NNS lackluster JJ and CC unfocused JJ . .
Only RB recently RB has VBZ it PRP been VBN attractively RB redesigned VBN  and CC its PRP$ editorial JJ product NN improved VBN  . .
Success NNP is VBZ expected VBN  to TO gain VB at IN least JJS because IN of IN the DT recent JJ folding NN of IN rival JJ Venture NNP , , another DT magazine NN for IN growing VBG companies NNS . .
Working NNP Woman NNP and CC Working NNP Mother NNP have VBP operated VBN as IN part NN of IN Working NNP Woman\/McCall NNP 's POS Group NNP , , a DT less-than-successful JJ joint JJ venture NN between IN Mr. NNP Lang NNP and CC Time NN Warner NNP Inc NNP . .
The DT joint JJ venture NN is VBZ being VBG undone VBN  , , with IN McCall NNP 's POS magazine NN being VBG sold VBN  last JJ summer NN to TO the DT New NNP York NNP Times NNP Co. NNP 's POS Magazine NNP Group NNP for IN about RB $ $ 80 CD million CD  , , and CC Time NN Warner NNP agreeing VBG  to TO sell VB back RP its PRP$ 50 CD % NN interest NN in IN Working NNP Woman NNP and CC Working NNP Mother NNP to TO Mr. NNP Lang NNP . .
Executives NNS at IN Time NNP Inc NNP . . Magazine NNP Co. NNP , , a DT subsidiary NN of IN Time NNP Warner NNP , , have VBP said VBN  the DT joint JJ venture NN with IN Mr. NNP Lang NNP was VBD n't RB a DT good JJ one CD . .
The DT venture NN , , formed VBN  in IN 1986 CD , , was VBD supposed VBN  to TO be VB Time NNP 's POS low-cost JJ , , safe JJ entry NN into IN women NNS 's POS magazines NNS . .
Mr. NNP Lang NNP surprised VBD Time NNP soon RB after IN  joining VBG forces NNS when WRB he PRP said VBD  he PRP would MD negotiate VB rates NNS individually RB with IN advertisers NNS , , a DT practice NN common JJ in IN broadcasting NN but CC considered VBN  taboo NN by IN magazine NN publishers NNS  . .
In IN addition NN , , McCall NNP 's POS put VBD in RP a DT less RBR than IN stellar JJ performance NN . .
Until IN a DT recent JJ comeback NN , , it PRP saw VBD steep JJ losses NNS in IN ad NN pages NNS and CC circulation NN . .
Time NNP executives NNS complained VBD about IN the DT shoddy JJ editorial JJ quality NN , , and CC in IN the DT end NN , , one CD Time NNP executive NN who WP  asked VBD  not RB to TO be VB identified VBN  said VBD , , `` `` Frankly RB , , McCall NNP 's POS and CC the DT joint JJ venture NN were VBD an DT embarrassment NN . . '' ''
Mr. NNP Lang NNP feels VBZ that DT Time NNP 's POS priorities NNS changed VBD . .
`` `` Their PRP$ management NN changed VBD right RB after IN -LCB- -LRB- the DT venture NN was VBD formed VBN  -RCB- -RRB- , , and CC I PRP do VBP n't RB think VB  they PRP were VBD comfortable JJ  getting VBG into IN the DT competitive JJ wars NNS of IN women NNS 's POS service NN magazines NNS . . '' ''
Today NN , , Mr. NNP Lang NNP believes VBZ  his PRP$ magazines NNS will MD offer VB what WP many JJ women NNS 's POS magazines NNS do VBP n't RB   . .
`` `` We PRP write VBP straight RB for IN women NNS on IN their PRP$ level NN , , '' '' he PRP said VBD  . .
`` `` We PRP do VBP n't RB have VB passive JJ readers NNS . . '' ''
Mr. NNP Lang NNP points VBZ out RP that IN even RB Success NNP , , in IN part NN , , fits VBZ the DT company NN 's POS image NN , , since IN about RB 30 CD % NN of IN its PRP$ readership NN is VBZ female JJ . .
Mr. NNP Lang NNP has VBZ named VBN Carol NNP Taber NNP , , 43 CD , , as IN group NN publisher NN of IN New NNP York-based JJ Lang NNP Communications NNP . .
She PRP will MD oversee VB Working NNP Woman NNP , , Working NNP Mother NNP and CC Success NNP magazines NNS , , and CC retain VB her PRP post NN as IN publisher NN of IN Working NNP Woman NNP . .
The DT sale NN price NN of IN McCall NNP 's POS -- : twice RB what WP Mr. NNP Lang NNP originally RB paid VBD  for IN it PRP -- : will MD finance VB Lang NNP Communications NNP ' POS buy-back NN of IN Time NNP Warner NNP 's POS 50 CD % NN interest NN in IN Working NNP Woman NNP and CC Working NNP Mother NNP . .
Mr. NNP Lang NNP says VBZ  he PRP is VBZ n't RB scouting VBG new JJ acquisitions NNS , , at IN least JJS for IN now RB . .
`` `` We PRP would MD have VB  to TO go VB outside RB to TO banks NNS  to TO get VB the DT money NN and CC I PRP am VBP not RB ready JJ  to TO do VB that DT , , '' '' he PRP said VBD  . .
`` `` Besides RB , , we PRP have VBP enough NN on IN our PRP$ plate NN . .
There EX is VBZ plenty NN of IN work NN   to TO be VB done VBN  on IN what WP we PRP have VBP  . .
Britain NNP 's POS Monopolies NNP and CC Mergers NNP Commission NNP Wednesday NNP cleared VBD Rhone-Poulenc NNP S.A. NNP 's POS purchase NN of IN a DT specialty NN bulk-chemical NN unit NN from IN Monsanto NNP Co. NNP , ,  saying VBG  the DT purchase NN was VBD unlikely JJ  to TO have VB any DT lasting JJ impact NN on IN U.K. NNP industrial JJ consumers NNS . .
The DT commission NN , , which WDT  was VBD asked VBN   to TO study VB the DT deal NN by IN the DT Department NNP of IN Trade NNP and CC Industry NNP after IN its PRP$ announcement NN in IN February NNP , , said VBD  the DT diversity NN of IN global JJ supply NN of IN chemicals NNS used VBN  in IN  making VBG analgesic JJ drugs NNS was VBD great JJ enough RB  to TO offset VB the DT dominant JJ U.K. NNP market NN share NN  Rhone-Poulenc NNP would MD gain VB  through IN the DT acquisition NN . .
The DT French NNP chemical NN giant NN would MD hold VB an DT 80 CD % NN share NN of IN the DT U.K. NNP market NN for IN salicylic JJ acid NN , , methyl NN salicylate NN and CC bulk JJ aspirin NN . .
The DT commission NN found VBD that IN if IN the DT British JJ government NN attempted VBD  to TO block VB the DT merger NN , , Rhone-Poulenc NNP would MD likely RB respond VB by IN  closing VBG the DT salicylates NNS plant NN  Monsanto NNP operates VBZ  in IN Wales NNP , ,  removing VBG the DT matter NN from IN U.K. NNP jurisdiction NN . .
Morrison NNP Knudsen NNP Corp. NNP posted VBD third-quarter JJ net JJ income NN of IN $ $ 7.9 CD million CD  , , or CC 69 CD cents NNS a DT share NN , ,  continuing VBG a DT rebound NN from IN steep JJ year-ago JJ losses NNS . .
In IN the DT third JJ quarter NN a DT year-earlier NN , , the DT construction NN and CC engineering NN concern NN posted VBD a DT loss NN of IN $ $ 51.2 CD million CD  , , or CC $ $ 4.68 CD  a DT share NN . .
Revenue NN in IN the DT latest JJS quarter NN rose VBD 14 CD % NN to TO $ $ 589 CD million CD  from IN $ $ 515.1 CD million CD  . .
In IN composite JJ trading NN on IN the DT New NNP York NNP Stock NNP Exchange NNP , , Morrison NNP gained VBD $ $ 2.25 CD  to TO $ $ 44.125 CD  . .
Morrison NNP said VBD  the DT engineering NN and CC construction NN segment NN performed VBD well RB , , with IN the DT mining NN and CC MK-Ferguson NNP operations NNS making VBG important JJ contributions NNS . .
Boise NNP , , Idaho-based JJ Morrison NNP had VBD losses NNS totaling VBG $ $ 186 CD million CD  over IN the DT two CD years NNS ended VBN in IN December NNP , , but CC it PRP has VBZ surged VBN back RB to TO profitability NN as IN a DT result NN of IN cost-cutting NN and CC  shedding NN of IN unprofitable JJ operations NNS . .
In IN the DT nine CD months NNS , , the DT company NN 's POS net JJ income NN was VBD $ $ 21.5 CD million CD  , , or CC $ $ 1.88 CD  a DT share NN , , compared VBN with IN a DT year-earlier JJ loss NN of IN $ $ 97.8 CD million CD  , , or CC $ $ 8.96 CD  a DT share NN . .
Revenue NN rose VBD 17 CD % NN to TO $ $ 1.62 CD billion CD  from IN $ $ 1.39 CD billion CD  . .
The DT House NNP Ethics NNP Committee NNP officially RB cited VBD Rep. NNP Jim NNP Bates NNP -LRB- -LRB- D. NNP , , Calif NNP . . -RRB- -RRB- for IN  sexually RB harassing VBG two CD female JJ employees NNS , , but CC did VBD n't RB recommend VB formal JJ disciplinary JJ action NN . .
Rep. NNP Bates NNP said VBD  he PRP accepted VBD the DT finding NN , , but CC one CD of IN the DT victims NNS , , Dorena NNP Bertussi NNP , , denounced VBD the DT ethics NNS panel NN 's POS action NN as IN `` `` absurd JJ . . '' ''
 Acting VBG more RBR than IN a DT year NN after IN Ms. NNP Bertussi NNP filed VBD a DT complaint NN , , the DT panel NN issued VBD a DT `` `` letter NN of IN reproval NN '' '' saying VBG  Rep. NNP Bates NNP had VBD admitted VBN conduct NN that WDT  violated VBD a DT House NNP rule NN forbidding VBG discrimination NN against IN employees NNS on IN account NN of IN their PRP$ sex NN . .
It PRP ordered VBD Rep. NNP Bates NNP  to TO write VB letters NNS of IN apology NN to TO Ms. NNP Bertussi NNP and CC to TO a DT second JJ complainant NN , , Karen NNP Dryden NNP . .
Rep. NNP Bates NNP said VBD  he PRP would MD write VB the DT letters NNS as IN  ordered VBN  . .
`` `` I PRP accept VBP the DT resolution NN of IN the DT matter NN by IN the DT Ethics NNP Committee NNP , , '' '' he PRP said VBD  . .
The DT panel NN also RB warned VBD Rep. NNP Bates NNP that IN any DT further JJ violations NNS `` `` may MD result VB in IN a DT recommendation NN that IN disciplinary JJ action NN be VB considered VBN  . . '' ''
But CC Ms. NNP Bertussi NNP asked VBD , , `` `` Who WP in IN their PRP$ right JJ mind NN  is VBZ going VBG  to TO file VB another DT complaint NN with IN the DT Ethics NNP Committee NNP ? . '' ''
Rep. NNP Bates NNP has VBZ publicly RB begged VBN for IN forgiveness NN from IN voters NNS and CC was VBD re-elected VBN  with IN 60 CD % NN of IN the DT vote NN last JJ November NNP . .
Mesa NNP Airlines NNP said VBD  the DT takeover NN offer NN  it PRP received VBD  earlier RBR this DT week NN from IN StatesWest NNP Airlines NNP is VBZ for IN a DT combination NN of IN cash NN and CC securities NNS valued VBN  by IN StatesWest NNP at IN $ $ 10 CD  a DT Mesa NNP share NN . .
Both DT companies NNS are VBP regional JJ carriers NNS in IN the DT Southwest NNP . .
When WRB it PRP made VBD the DT offer NN  , , StatesWest NNP declined VBD  to TO disclose VB details NNS and CC asked VBD Mesa NNP  to TO do VB the DT same JJ . .
But CC Farmington NNP , , N.M.-based JJ Mesa NNP said VBD  the DT offer NN was VBD for IN $ $ 7 CD  in IN cash NN and CC unspecified JJ StatesWest NNP securities NNS valued VBN  at IN $ $ 3 CD  a DT share NN . .
Based VBN on IN the DT number NN of IN Mesa NNP shares NNS outstanding JJ not RB already RB owned VBN  by IN StatesWest NNP , , the DT proposed JJ takeover NN would MD have VB a DT value NN of IN about RB $ $ 15.3 CD million CD  . .
StatesWest NNP owns VBZ 7.25 CD % NN of IN Mesa NNP . .
Last JJ week NN , , Mesa NNP rejected VBD a DT general JJ proposal NN  from IN StatesWest JJS that IN the DT two CD carriers NNS combine VB . .
In IN response NN to TO the DT specific JJ offer NN , , Gary NNP Risley NNP , , Mesa NNP vice NN president NN , , said VBD  management NN will MD ask VB directors NNS  to TO employ VB a DT financial JJ consultant NN   to TO advise VB them PRP . .
Hawker NNP Siddeley NNP Group NNP PLC NNP , , a DT U.K. NNP engineering NN company NN , , reported VBD a DT 16 CD % NN jump NN in IN pretax JJ profit NN for IN the DT six-month JJ period NN ending VBG June NNP 30 CD . .
Pretax JJ profit NN rose VBD to TO # # 93.2 CD million CD  -LRB- -LRB- $ $ 146.8 CD million CD  -RRB- -RRB- from IN # # 80.6 CD million CD  -LRB- -LRB- $ $ 127 CD million CD  -RRB- -RRB- , ,  matching VBG analysts NNS ' POS expectations NNS , , which WDT  ranged VBD from IN # # 90 CD million CD  to TO # # 95 CD million CD  . .
Profit NN after IN taxes NNS and CC minority NN interests NNS increased VBD 16 CD % NN to TO # # 55.2 CD million CD  from IN # # 47.6 CD million CD  in IN the DT year-earlier JJ period NN , , while IN earnings NNS per IN share NN rose VBD 16 CD % NN to TO 27.9 CD pence NNS -LRB- -LRB- 44 CD cents NNS -RRB- -RRB- from IN 24.1 CD pence NNS -LRB- -LRB- 38 CD cents NNS -RRB- -RRB- . .
Hawker NNP Siddeley NNP said VBD  its PRP$ core JJ electrical JJ products NNS division NN enjoyed VBD strong JJ growth NN , , with IN a DT 20 CD % NN rise NN in IN operating NN profit NN during IN the DT period NN . .
Fleet\/Norstar NNP Financial NNP Group NNP reported VBD a DT 12 CD % NN increase NN in IN net JJ income NN in IN the DT third JJ quarter NN , , led VBN  by IN a DT 43 CD % NN gain NN in IN its PRP$ financial JJ services NNS group NN . .
Fleet NNP 's POS net NN was VBD $ $ 96.4 CD million CD  , , or CC 86 CD cents NNS a DT primary JJ share NN , , compared VBN with IN $ $ 85.8 CD million CD  , , or CC 79 CD cents NNS a DT share NN , , a DT year NN earlier RBR . .
The DT Providence NNP , , R.I. NNP , , financial JJ services NNS group NN , , which WDT  includes VBZ commercial-credit NN , , leasing NN and CC mortgage-banking NN operations NNS , , contributed VBD $ $ 30.6 CD million CD   to TO net NN , , up RB from IN last JJ year NN 's POS $ $ 21.3 CD million CD  . .
Fleet NNP also RB noted VBD that IN , , unlike IN other JJ banking NN companies NNS in IN the DT Northeast NNP , , it PRP has VBZ been VBN only RB marginally RB hurt VBN  by IN nonperforming JJ loans NNS that WDT  have VBP resulted VBN from IN the DT slumping VBG regional JJ real JJ estate NN market NN . .
Fleet NNP reported VBD nine-month JJ net NN of IN $ $ 279.0 CD million CD  , , or CC $ $ 2.51 CD  a DT primary JJ share NN , , up RB from IN $ $ 248.2 CD million CD  , , or CC $ $ 2.28 CD  a DT share NN , , a DT year NN earlier RBR . .
Benj NNP . . Franklin NNP Federal NNP Savings NNP & CC Loan NNP Association NNP said VBD  it PRP expects VBZ  to TO post VB a DT third-quarter JJ net JJ loss NN of IN about RB $ $ 8 CD million CD  , , or CC $ $ 1.04 CD  a DT share NN , , as IN a DT result NN of IN  adding VBG $ $ 11 CD million CD  in IN loan-loss JJ reserves NNS . .
The DT Portland NNP , , Ore. NNP , , thrift NN , , which WDT  has VBZ $ $ 5.2 CD billion CD  of IN assets NNS , , had VBD net JJ income NN in IN last JJ year NN 's POS third JJ quarter NN of IN $ $ 1.8 CD million CD  , , or CC 23 CD cents NNS a DT share NN . .
Franklin NNP said VBD  it PRP expects VBZ  to TO report VB earnings NNS for IN the DT latest JJS quarter NN next IN week NN . .
The DT additional JJ reserves NNS relate VBP to TO possible JJ write-downs NNS of IN certain JJ assets NNS held VBN  by IN Franklin NNP and CC its PRP$ subsidiaries NNS and CC the DT default NN of IN a DT bond NN in IN its PRP$ investment NN portfolio NN , , the DT thrift NN said VBD   . .
According VBG to TO a DT spokeswoman NN , , they PRP also RB relate VBP to TO changes NNS  Franklin NNP will MD have VB  to TO make VB   in IN its PRP$ accounting NN procedures NNS  to TO comply VB with IN new JJ federal JJ capitalization NN requirements NNS for IN thrifts NNS . .
The DT company NN 's POS shares NNS closed VBD yesterday NN at IN $ $ 4.25 CD  , , off RB 25 CD cents NNS , , in IN national JJ over-the-counter JJ trading NN . .
Arkla NNP Inc. NNP said VBD that IN as IN part NN of IN a DT program NN   to TO improve VB profitability NN it PRP will MD take VB a DT total NN of IN $ $ 189 CD million CD  in IN after-tax JJ charges NNS by IN year NN end NN . .
It PRP also RB announced VBD an DT initial JJ public JJ offering NN of IN 18 CD % NN of IN its PRP$ gas NN exploration NN and CC production NN subsidiary NN . .
The DT Shreveport NNP , , La. NNP , , natural JJ gas NN company NN said VBD  the DT charges NNS , , though IN  partially RB offset VBN  by IN a DT one-time JJ gain NN from IN the DT offering NN , , will MD result VB in IN a DT full-year JJ after-tax JJ loss NN . .
Last JJ year NN , , the DT company NN had VBD net JJ income NN of IN $ $ 117.3 CD million CD  , , or CC $ $ 1.30 CD  a DT share NN . .
Arkla NNP said VBD  it PRP will MD report VB $ $ 179 CD milllion NN  in IN one-time JJ charges NNS against IN continuing JJ operations NNS for IN the DT third JJ quarter NN , ,  reflecting VBG settlement NN of IN certain JJ natural JJ gas NN contracts NNS . .
It PRP said VBD  it PRP will MD take VB a DT $ $ 10 CD million CD  fourth-quarter JJ charge NN against IN discontinued JJ operations NNS , ,  reflecting VBG certain JJ write-downs NNS and CC the DT planned JJ sale NN of IN a DT unit NN . .
Arkla NNP said VBD  its PRP$ initial JJ offering NN of IN 18 CD % NN of IN Arkla NNP Exploration NNP Co. NNP is VBZ expected VBN  to TO result VB in IN a DT net JJ gain NN of IN about RB $ $ 90 CD million CD  , , which WDT  will MD be VB used VBN   to TO pay VB down RP Arkla NNP debt NN . .
Arkla NNP Exploration NNP owns VBZ sizable JJ gas NN and CC crude-oil NN reserves NNS in IN the DT South NNP and CC Southwest NNP . .
South NNP Africa NNP negotiated VBD a DT new JJ debt NN agreement NN  with IN its PRP$ major JJ foreign JJ creditors NNS for IN about RB $ $ 8 CD billion CD  of IN its PRP$ foreign JJ debt NN outstanding JJ , , said VBD   Chris NNP Stals NNP , , governor NN of IN the DT Reserve NNP Bank NNP and CC the DT country NN 's POS chief JJ debt NN negotiator NN . .
The DT new JJ agreement NN will MD last VB for IN 3 CD 1\/2 CD years NNS starting VBG July NNP 1 CD , , 1990 CD , , when WRB the DT current JJ agreement NN expires VBZ  . .
The DT announcement NN coincides VBZ with IN the DT start NN of IN the DT Commonwealth NNP Ministers NNP Conference NNP in IN Kuala NNP Lumpur NNP , , where WRB proposals NNS for IN renewed JJ sanctions NNS against IN South NNP Africa NNP , , including VBG moves NNS   to TO block VB settling VBG of IN a DT new JJ debt NN agreement NN , , were VBD scheduled VBN  to TO be VB discussed VBN   . .
As RB with IN the DT previous JJ pact NN , , the DT new JJ agreement NN covers VBZ the DT country NN 's POS debt NN `` `` inside IN the DT net NN , , '' '' which WDT  applies VBZ mainly RB to TO repayments NNS due JJ to TO overseas JJ creditor NN banks NNS by IN the DT private JJ sector NN . .
The DT agreement NN calls VBZ for IN South JJ African JJ debtors NNS to TO make VB repayments NNS in IN eight CD installments NNS , , starting VBG in IN December NNP of IN next JJ year NN . .
The DT redemption NN then RB would MD be VB at IN 1.5 CD % NN of IN the DT total NN debt NN , ,  increasing VBG to TO 2.5 CD % NN in IN February NNP 1991 CD  , , and CC to TO 3 CD % NN at IN six-month JJ intervals NNS thereafter RB . .
A DT revised JJ provision NN  would MD be VB included VBN  for IN the DT conversion NN of IN short-term JJ claims NNS inside IN the DT net NN to TO long-term JJ loans NNS outside IN the DT net NN . .
These DT claims NNS would MD be VB repayable JJ over IN a DT 10-year JJ period NN . .
Foreign JJ debt NN falling VBG outside IN the DT net NN of IN affected VBN indebtedness NN -- : which WDT Mr. NNP Stahl NNP estimated VBD  at IN $ $ 12 CD billion CD  -- : would MD remain VB not RB subject JJ to TO the DT debt NN arrangements NNS . .
New NNP York NNP Times NNP Co. NNP said VBD  net JJ income NN rose VBD in IN the DT third JJ quarter NN because IN of IN a DT one-time JJ gain NN on IN the DT sale NN of IN the DT company NN 's POS cable-TV NN system NN . .
Net NN surged VBD to TO $ $ 210.8 CD million CD  , , or CC $ $ 2.68 CD  a DT share NN , , from IN $ $ 26.7 CD million CD  , , or CC 33 CD cents NNS a DT share NN , , a DT year NN earlier RBR . .
The DT latest JJS quarter NN included VBD a DT gain NN of IN $ $ 193.3 CD million CD  , , or CC $ $ 2.46 CD  a DT share NN , , from IN the DT sale NN of IN New NNP York NNP Times NNP Cable NNP , , completed VBN  in IN August NNP . .
 Exclusive JJ of IN the DT gain NN , , operating NN profit NN declined VBD 35 CD % NN to TO $ $ 16.4 CD million CD  , , or CC 21 CD cents NNS a DT share NN , , from IN $ $ 25.2 CD million CD  , , or CC 31 CD cents NNS a DT share NN . .
The DT decline NN primarily RB reflected VBD the DT dilution NN from IN  acquiring VBG McCall NNP 's POS , , Golf NNP World NNP -LRB- -LRB- U.S. NNP -RRB- -RRB- and CC Sailing NNP World NNP magazines NNS ; : lower JJR equity NN earnings NNS from IN the DT forest-products NNS group NN because IN of IN price NN discounting NN and CC an DT unfavorable JJ exchange NN rate NN , , and CC an DT 8.7 CD % NN decline NN in IN advertising NN linage NN at IN the DT New NNP York NNP Times NNP , , the DT company NN 's POS flagship JJ newspaper NN . .
Advertising NN volume NN at IN the DT company NN 's POS 35 CD regional JJ newspapers NNS decreased VBD 1.1 CD % NN . .
The DT company NN said VBD  the DT negative JJ factors NNS are VBP expected VBN  to TO continue VB into IN next JJ year NN . .
Revenue NN rose VBD 6.4 CD % NN to TO $ $ 415.3 CD million CD  from IN $ $ 390.5 CD million CD  . .
Democrat NNP Gene NNP Taylor NNP won VBD a DT special JJ election NN   to TO fill VB the DT congressional JJ seat NN vacated VBN  by IN the DT death NN of IN Republican NNP Larkin NNP Smith NNP , ,  taking VBG back RP the DT GOP NNP 's POS lone JJ redoubt NN in IN Mississippi NNP 's POS House NNP delegation NN . .
Mr. NNP Taylor NNP 's POS overwhelming JJ victory NN against IN Republican NNP Tom NNP Anderson NNP reclaims VBZ a DT seat NN  the DT Republicans NNPS had VBD held VBN  for IN 17 CD years NNS and CC gives VBZ the DT Democrats NNPS their PRP$ fifth JJ victory NN in IN the DT seven CD special JJ House NNP elections NNS held VBN  this DT year NN . .
Mr. NNP Taylor NNP , , a DT 36-year-old JJ state NN senator NN from IN Bay NNP St. NNP Louis NNP , , won VBD 65 CD % NN of IN the DT vote NN in IN a DT district NN that WDT  has VBZ voted VBN  Republican JJ in IN the DT past JJ five CD presidential JJ elections NNS and CC that DT  was VBD once RB represented VBN  by IN Republican NNP U.S. NNP Sen. NNP Trent NNP Lott NNP . .
Mr. NNP Taylor NNP 's POS victory NN was VBD an DT embarrassment NN for IN both DT state NN and CC national JJ Republicans NNPS . .
Mr. NNP Anderson NNP , , a DT former JJ Lott NNP aide NN , , received VBD campaign NN assistance NN from IN the DT senator NN and CC from IN President NNP Bush NNP , , who WP  visited VBD the DT district NN last JJ week NN . .
Even RB so RB , , Mr. NNP Taylor NNP carried VBD all DT but IN one CD of IN the DT district NN 's POS dozen NN counties NNS . .
Rep. NNP Smith NNP died VBD in IN a DT plane NN crash NN on IN Aug. NNP 13 CD . .
Wall NNP Street NNP Journal NNP reporters NNS called VBD companies NNS with IN headquarters NNS or CC facilities NNS in IN the DT Bay NNP area NN in IN a DT bid NN  to TO assess VB the DT damage NN to TO their PRP$ operations NNS caused VBN  by IN Tuesday NNP 's POS earthquake NN . .
The DT calls NNS reached VBD many JJ , , but CC certainly RB not RB all DT , , of IN the DT publicly RB held VBN companies NNS with IN operations NNS in IN the DT area NN . .
In IN most JJS cases NNS damage NN to TO company NN facilities NNS and CC operations NNS was VBD minimal JJ . .
ADIA NNP SERVICES NNP INC. NNP , , Menlo NNP Park NNP , , temporary JJ personnel NNS agency NN , , annual JJ sales NNS of IN $ $ 504 CD million CD  , , OTC NNP , , said VBD  all DT 30 CD offices NNS in IN Bay NNP area NN were VBD working VBG , , but CC in IN various JJ states NNS of IN disarray NN . .
Business NN was VBD slow JJ because IN many JJ companies NNS were VBD closed JJ yesterday NN . .
ADVANCED NNP MICRO NNP DEVICES NNP INC. NNP , , Sunnyvale NNP , , integrated JJ circuit NN maker NN , , annual JJ sales NNS of IN $ $ 1.12 CD billion CD  , , NYSE NNP , , had VBD only JJ minor JJ structural JJ damage NN . .
Most JJS of IN its PRP$ 4,500 CD workers NNS were VBD at IN work NN yesterday NN , , and CC no DT production NN slowdown NN was VBD anticipated VBN  as RB long RB as IN electricity NN remains VBZ available JJ . .
AMDAHL NNP CORP. NNP , , Sunnyvale NNP , , computer NN maker NN , , annual JJ sales NNS of IN $ $ 1.8 CD billion CD  , , Amex NNP , , was VBD closed JJ yesterday NN and CC no DT damage NN estimates NNS were VBD available JJ . .
AMERICAN NNP BUILDING NNP MAINTENANCE NNP INDUSTRIES NNP Inc. NNP , , San NNP Francisco NNP , , provider NN of IN maintenance NN services NNS , , annual JJ revenue NN of IN $ $ 582 CD million CD  , , NYSE NNP , , had VBD some DT damage NN to TO headquarters NN and CC lost VBD phone NN service NN , , but CC operations NNS were VBD moved VBN  to TO a DT branch NN office NN and CC are VBP running VBG smoothly RB thanks NNS to TO a DT decentralized JJ computer NN system NN  the DT company NN had VBD developed VBN  before IN the DT quake NN . .
AMERICAN NNP PRESIDENT NNP COS. NNP , , Oakland NNP , , shipping NN concern NN , , annual JJ sales NNS of IN $ $ 2.2 CD billion CD  , , NYSE NNP , , had VBD little JJ damage NN to TO the DT cranes NNS , , dock NN or CC rail NN track NN at IN its PRP$ container-ship NN facility NN near IN the DT collapsed JJ Route NNP 880 NNP overpass NN . .
The DT company NN expects VBZ  to TO work VB a DT ship NN due JJ in IN today NN with IN minimal JJ delays NNS , , despite IN sporadic JJ power NN . .
ANACOMP NNP INC. NNP , , Indianapolis NNP , , NYSE NNP , , said VBD  its PRP$ Xidex NNP Corp. NNP unit NN , , a DT Sunnyvale NNP maker NN of IN computer NN disks NNS and CC microfilm NN with IN annual JJ sales NNS of IN $ $ 637 CD million CD  , , had VBD only JJ minor JJ damage NN and CC is VBZ fully RB operational JJ . .
ANTHEM NNP ELECTRONICS NNP INC. NNP , , San NNP Jose NNP , , distributor NN of IN electronic JJ parts NNS , , annual JJ sales NNS of IN about RB $ $ 300 CD million CD  , , NYSE NNP , , sustained VBD very RB little JJ damage NN , , anticipated VBN being VBG `` `` in IN 100 CD % NN operating NN condition NN '' '' by IN midday NN . .
APPLE NNP COMPUTER NNP CO. NNP , , Cupertino NNP , , computer NN maker NN , , annual JJ sales NNS of IN $ $ 4.07 CD billion CD  , , OTC NNP , , sustained VBD some DT structural JJ damage NN . .
Offices NNS were VBD closed JJ yesterday NN . .
APPLIED NNP MATERIALS NNP INC. NNP , , Santa NNP Clara NNP , , maker NN of IN computer-chip NN machine NN systems NNS , , annual JJ sales NNS of IN $ $ 490 CD million CD  , , OTC NNP , , had VBD slight JJ damage NN to TO headquarters NN , , no DT damage NN to TO manufacturing NN plants NNS . .
Company NN , , with IN 1,750 CD workers NNS in IN area NN , , is VBZ fully RB functional JJ . .
ATARI NNP CORP. NNP , , Sunnyvale NNP , , maker NN of IN personal JJ computers NNS and CC software NN , , annual JJ sales NNS of IN $ $ 700 CD million CD  , , Amex NNP , , had VBD minor JJ damage NN and CC expects VBZ  to TO be VB fully RB operational JJ by IN tomorrow NN . .
BANKAMERICA NNP Corp. NNP , , San NNP Francisco NNP , , bank NN holding NN company NN , , annual JJ revenue NN of IN $ $ 10.2 CD billion CD  , , NYSE NNP , , yesterday NN had VBD no DT power NN at IN its PRP$ headquarters NNS , , 80 CD of IN its PRP$ 433 CD Northern NNP California NNP branches NNS were VBD closed JJ and CC 250 CD of IN 750 CD automatic JJ teller NN machines NNS were VBD closed JJ in IN the DT area NN . .
Securities NNS trading NN was VBD conducted VBN  in IN a DT backup JJ facility NN in IN Concord NNP . .
BECHTEL NNP CORP. NNP , , San NNP Francisco NNP , , engineering NN and CC construction NN concern NN , , annual JJ sales NNS of IN $ $ 4 CD billion CD  , , had VBD only RB minor JJ structural JJ damage NN at IN its PRP$ three CD buildings NNS in IN the DT city NN , , but CC its PRP$ computers NNS were VBD knocked VBN  out RP . .
Backup JJ computer NN tapes NNS were VBD hand-carried VBN  to TO an DT IBM NNP office NN in IN Philadelphia NNP , , and CC the DT company NN expects VBZ its PRP$ mainframe NN to TO be VB up RB in IN a DT few JJ days NNS . .
Workers NNS , , except IN for IN senior JJ management NN , , were VBD asked VBN   not RB to TO report VB for IN work NN yesterday NN . .
BIO-RAD NNP LABORATORIES NNP INC. NNP , , Hercules NNP , , biological JJ research NN and CC clinical-products NNS leader NN , , $ $ 200 CD million CD  in IN annual JJ sales NNS , , Amex NNP , , said VBD  its PRP$ Richmond NNP warehouse NN north RB of IN San NNP Francisco NNP was VBD closed JJ because IN of IN debris NN and CC fallen JJ shelves NNS . .
It PRP expects VBZ  to TO be VB fully RB operational JJ by IN next JJ week NN . .
BORLAND NNP INTERNATIONAL NNP , , Scotts NNP Valley NNP , , personal JJ computer NN and CC software NN designer NN , , annual JJ sales NNS of IN $ $ 72 CD million CD  , , had VBD heavy JJ damage NN to TO its PRP$ headquarters NN and CC was VBD conducting VBG business NN from IN its PRP$ parking NN lot NN . .
The DT company NN does VBZ n't RB expect VB any DT shipping NN delays NNS . .
BUSINESSLAND NNP INC. NNP , , San NNP Jose NNP , , computer NN retail NN company NN , , annual JJ sales NNS of IN $ $ 1.1 CD billion CD  , , NYSE NNP , , said VBD  all DT 16 CD corporate JJ office NN and CC stores NNS in IN the DT area NN were VBD open JJ with IN the DT exception NN of IN a DT retail JJ center NN in IN San NNP Francisco NNP 's POS business NN district NN . .
That DT facility NN should MD reopen VB today NN . .
CARTER NNP HAWLEY NNP HALE NNP STORES NNP Inc. NNP , , Los NNP Angeles NNP , , retailer NN , , annual JJ sales NNS of IN $ $ 2.79 CD billion CD  , , NYSE NNP , , said VBD  nine CD of IN its PRP$ 22 CD Emporium NNP stores NNS in IN the DT area NN were VBD closed JJ because IN of IN water NN damage NN , , broken JJ windows NNS and CC fallen JJ displays NNS . .
A DT spokesman NN said VBD  sales NNS are VBP expected VBN  to TO be VB hurt VBN  , , but CC the DT losses NNS are VBP covered VBN  by IN insurance NN . .
CHEVRON NNP CORP. NNP , , San NNP Francisco NNP , , oil NN company NN , , annual JJ sales NNS of IN $ $ 25.2 CD billion CD  , , NYSE NNP , , had VBD minor JJ damage NN to TO downtown JJ headquarters NNS , , but CC structural JJ damage NN closed VBD two CD of IN its PRP$ seven CD buildings NNS in IN San NNP Ramone NNP industrial JJ park NN . .
Company NN expects VBZ  to TO be VB fully RB operational JJ by IN next JJ week NN . .
CLOROX NNP Co. NNP , , Oakland NNP , , consumer NN products NNS , , annual JJ sales NNS of IN $ $ 1.36 CD billion CD  , , NYSE NNP , , was VBD closed VBN yesterday NN but CC plans VBZ  to TO reopen VB today NN or CC tomorrow NN . .
Meanwhile RB , , orders NNS are VBP being VBG routed VBN  through IN Kingsford NNP Products NNP unit NN in IN Louisville NNP , , Ky. NNP , , but CC computer NN problems NNS mean VBP  they PRP must MD be VB processed VBN  manually RB . .
 Expects NNS  to TO be VB fully RB operational JJ early RB next JJ week NN . .
COHERENT NNP INC. NNP , , Palo NNP Alto NNP , , laser NN maker NN , , annual JJ sales NNS of IN $ $ 159 CD million CD  , , was VBD closed JJ yesterday NN but CC expects VBZ  to TO reopen VB today NN . .
CONSOLIDATED NNP FREIGHTWAYS NNP INC. NNP , , Menlo NNP Park NNP , , trucking NN company NN , , $ $ 2.69 CD billion CD  in IN annual JJ sales NNS , , NYSE NNP , , had VBD structural JJ damage NN to TO CF NNP Motor NNP Freight NNP subsidiary NN 's POS office NN in IN Palo NNP Alto NNP , , no DT damage NN in IN Menlo NNP Park NNP . .
COOPER NNP COMPANIES NNP INC. NNP , , Palo NNP Alto NNP , , medical JJ products NNS maker NN , , annual JJ sales NNS of IN $ $ 628 CD million CD  , , NYSE NNP , , had VBD little JJ damage NN and CC was VBD in IN full JJ operation NN yesterday NN . .
DAYTON NNP HUDSON NNP CORP. NNP , , Minneapolis NNP , , retailer NN , , annual JJ sales NNS of IN $ $ 12.2 CD billion CD  , , NYSE NNP , , closed VBD seven CD of IN its PRP$ 13 CD Bay-area JJ Target NNP discount NN stores NNS and CC nine CD of IN its PRP$ 20 CD Mervyn NNP 's POS department NN stores NNS because RB of IN pending VBG reviews NNS by IN structural JJ engineers NNS or CC requests NNS from IN authorities NNS , , who WP  were VBD trying VBG  to TO keep VB shoppers NNS off IN the DT freeways NNS . .
The DT company NN expects VBZ  to TO reopen VB three CD Target NNP stores NNS and CC all DT but IN two CD Mervyn NNP 's POS today NN or CC tomorrow NN . .
DIASONICS NNP INC. NNP , , South NNP San NNP Francisco NNP , , maker NN of IN magnetic JJ resonance NN imaging NN equipment NN , , annual JJ sales NNS of IN $ $ 281 CD million CD  , , Amex NNP , , had VBD minor JJ damage NN , , mostly RB in IN a DT stockroom NN . .
The DT company NN plans VBZ  to TO be VB fully RB operational JJ today NN . .
DIGITAL NNP EQUIPMENT NNP CORP. NNP , , Maynard NNP , , Mass. NNP , , computer NN maker NN , , annual JJ sales NNS of IN $ $ 12.7 CD billion CD  , , NYSE NNP , , had VBD structural JJ damage NN at IN its PRP$ San NNP Francisco NNP sales NNS office NN but CC no DT appreciable JJ damage NN elsewhere RB in IN the DT area NN , , including VBG its PRP$ Cupertino NNP plant NN . .
DREYER'S NNP GRAND NNP ICE NNP CREAM NNP INC. NNP , , Oakland NNP , , ice NN cream NN maker NN , , annual JJ sales NNS of IN $ $ 225 CD million CD  , , OTC NNP , , said VBD  it PRP is VBZ delivering VBG ice NN cream NN wherever WRB roads NNS are VBP passable JJ  . .
EVEREX NNP SYSTEMS NNP INC. NNP , , Fremont NNP , , maker NN of IN personal JJ computers NNS and CC peripherals NNS , , annual JJ sales NNS of IN $ $ 377 CD million CD  , , OTC NNP , , had VBD minor JJ damage NN and CC was VBD almost RB fully RB operational JJ yesterday NN . .
EXXON NNP Corp. NNP , , New NNP York NNP , , oil NN company NN , , NYSE NNP , , said VBD  its PRP$ refinery NN northeast RB of IN San NNP Francisco NNP was VBD operating VBG at IN a DT slightly RB reduced VBN rate NN as IN a DT precaution NN in IN case NN of IN aftershocks NNS . .
FORD NNP MOTOR NNP CO. NNP , , Dearborn NNP , , Mich. NNP , , auto NN maker NN , , annual JJ sales NNS of IN $ $ 92.4 CD billion CD  , , NYSE NNP , , said VBD  its PRP$ three CD Ford NNP Aerospace NNP unit NN facilities NNS in IN the DT Bay NNP area NN , , including VBG a DT satellite-assembly NN operation NN in IN Palo NNP Alto NNP , , had VBD no DT major JJ damage NN . .
GAP NNP Inc. NNP , , San NNP Bruno NNP , , clothing NN retailer NN , , annual JJ sales NNS of IN $ $ 1.25 CD billion CD  , , NYSE NNP , , expects VBZ most JJS of IN its PRP$ stores NNS to TO return VB to TO full JJ operation NN and CC all DT 2,500 CD of IN its PRP$ Bay-area JJ workers NNS to TO be VB back RB at IN work NN by IN today NN . .
GENENTECH NNP INC. NNP , , South NNP San NNP Francisco NNP , , biotechnology NN company NN , , annual JJ sales NNS of IN $ $ 334.8 CD million CD  , , NYSE NNP , , sustained VBD no DT major JJ damage NN and CC expects VBZ  to TO be VB fully RB operational JJ today NN . .
GENERAL NNP ELECTRIC NNP CO. NNP , , Fairfield NNP , , Conn. NNP , , consumer NN , , industrial JJ products NNS and CC broadcasting VBG concern NN , , annual JJ sales NNS of IN $ $ 50 CD billion CD  , , NYSE NNP , , said VBD  its PRP$ GE NNP Nuclear NNP Energy NNP unit NN , , with IN 1,600 CD Bay-area JJ employees NNS , , had VBD only JJ minor JJ damage NN at IN its PRP$ San NNP Jose NNP headquarters NN . .
Business NN was VBD n't RB disrupted VBD . .
GENERAL NNP MOTORS NNP CORP. NNP , , Detroit NNP , , auto NN maker NN , , annual JJ sales NNS of IN $ $ 123.6 CD billion CD  , , NYSE NNP , , sustained VBD about RB 10 CD injuries NNS to TO workers NNS and CC some DT ruptured JJ water NN mains NNS at IN its PRP$ New NNP United NNP Motor NNP Manufacturing NNP Inc. NNP facility NN in IN Fremont NNP , , a DT joint JJ venture NN with IN Toyota NNP Motor NNP Corp NNP . .
There EX was VBD limited JJ production NN of IN some DT models NNS yesterday NN , , but CC it PRP  was VBD n't RB clear JJ when WRB the DT normal JJ 750-car-a-day JJ pace NN will MD resume VB  . .
Plant NN officials NNS are VBP still RB assessing VBG damage NN to TO parts NNS suppliers NNS and CC Port NNP of IN Oakland NNP facilities NNS that WDT  handle VBP shipments NNS to TO the DT plant NN . .
GOLDEN NNP WEST NNP FINANCIAL NNP CORP. NNP , , Oakland NNP , , savings NNS and CC loan NN , , annual JJ revenue NN of IN $ $ 1.4 CD billion CD  , , NYSE NNP , , had VBD only JJ minor JJ damage NN to TO a DT few JJ branches NNS and CC no DT injured JJ employees NNS . .
HEWLETT-PACKARD NNP Co. NNP , , Palo NNP Alto NNP , , personal JJ computer NN and CC electronic JJ equipment NN maker NN , , annual JJ sales NNS of IN $ $ 9.8 CD billion CD  , , NYSE NNP , , said VBD  there EX will MD be VB a DT `` `` minimal JJ suspension NN '' '' of IN manufacturing NN for IN an DT undefined JJ period NN . .
The DT computer NN system NN was VBD operating VBG , , so IN orders NNS could MD be VB taken VBN  . .
The DT company NN has VBZ 18,000 CD employees NNS and CC more JJR than IN 70 CD buildings NNS in IN the DT Bay NNP area NN . .
One CD building NN in IN Palo NNP Alto NNP may MD be VB damaged JJ beyond IN repair NN . .
Others NNS had VBD lesser JJR damage NN and CC there EX were VBD no DT injuries NNS among IN workers NNS . .
Damage NN will MD be VB `` `` easily RB in IN the DT millions NNS , , '' '' the DT company NN said VBD   . .
HEXCEL NNP Corp. NNP , , Dublin NNP , , manufacturer NN of IN engineered JJ parts NNS , , annual JJ sales NNS of IN $ $ 399 CD million CD  , , NYSE NNP , , had VBD little JJ damage NN beyond IN some DT phone NN trouble NN . .
HOMESTAKE NNP MINING NNP CO. NNP , , San NNP Francisco NNP , , gold NN and CC general JJ miner NN , , annual JJ sales NNS of IN $ $ 432.6 CD million CD  , , NYSE NNP , , said VBD  its PRP$ headquarters NN was VBD closed JJ yesterday NN because IN of IN power NN failures NNS and CC lack NN of IN water NN , , but CC that IN it PRP may MD reopen VB today NN . .
It PRP expects VBZ any DT impact NN on IN its PRP$ business NN to TO be VB slight JJ . .
HOMESTEAD NNP FINANCIAL NNP CORP. NNP , , Millbrae NNP , , financial JJ services NNS concern NN , , annual JJ revenue NN of IN $ $ 562 CD million CD  , , OTC NNP , , said VBD  three CD of IN its PRP$ 17 CD Bay-area JJ branches NNS were VBD closed JJ yesterday NN . .
The DT company NN expects VBZ all DT branches NNS to TO reopen VB today NN . .
INMAC NNP CORP. NNP , , Santa NNP Clara NNP , , maker NN of IN computer NN accessories NNS , , annual JJ sales NNS of IN $ $ 250 CD million CD  , , OTC NNP , , said VBD  telephones NNS were VBD out RB at IN its PRP$ headquarters NN but CC service NN should MD be VB restored VBN  by IN today NN . .
The DT company NN said VBD  it PRP was VBD doing VBG a DT brisk JJ business NN in IN computer NN power-surge NN protectors NNS , , cables NNS and CC uninterruptable JJ power NN sources NNS . .
INTEL NNP Corp. NNP , , Santa NNP Clara NNP , , semiconductor NN maker NN , , annual JJ sales NNS of IN $ $ 2.87 CD billion CD  , , OTC NNP , , had VBD some DT damage NN and CC few JJ people NNS were VBD at IN work NN yesterday NN . .
INTERNATIONAL NNP BUSINESS NNP MACHINES NNP Corp NNP , , Armonk NNP , , N.Y. NNP , , maker NN of IN business NN machines NNS , , NYSE NNP , , said VBD  flooding NN caused VBN  by IN broken JJ water NN pipes NNS closed VBD its PRP$ San NNP Jose NNP plant NN , , which WDT  makes VBZ high-end JJ data-storage NN devices NNS . .
The DT plant NN and CC its PRP$ 8,500 CD employees NNS gradually RB will MD resume VB operations NNS over IN the DT next JJ several JJ days NNS , , the DT company NN said VBD   . .
Also RB closed JJ yesterday NN were VBD  the DT company NN 's POS Santa NNP Teresa NNP software-development NN lab NN and CC the DT Almaden NNP research NN center NN . .
The DT concern NN 's POS National NNP Service NNP Division NNP opened VBD a DT center NN for IN emergency NN service NN in IN Walnut NNP Creek NNP as IN part NN of IN its PRP$ disaster-recovery JJ plan NN . .
KAISER NNP ALUMINUM NNP & CC CHEMICAL NNP , , Oakland NNP , , metal NN and CC chemical NN maker NN , , annual JJ sales NNS of IN $ $ 2.22 CD billion CD  , , had VBD slight JJ structural JJ damage NN to TO its PRP$ 28-story JJ headquarters NN building NN and CC employees NNS stayed VBD home RB yesterday NN  to TO allow VB crews NNS to TO clean VB up RP . .
LOCKHEED NNP CORP. NNP , , Calabasas NNP , , aerospace NN and CC defense NN concern NN , , annual JJ sales NNS of IN $ $ 10.59 CD billion CD  , , NYSE NNP , , said VBD  its PRP$ Lockheed NNP Missiles NNP & CC Space NNP division NN closed VBD its PRP$ Santa NNP Cruz NNP test NN facility NN because IN of IN power NN outages NNS and CC landslides NNS . .
The DT closing NN , ,  affecting VBG 266 CD employees NNS , , will MD continue VB at IN least JJS until IN roads NNS are VBP cleared VBN  . .
It PRP  was VBD n't RB known VBN  to TO what WP extent NN , , if IN any DT , , the DT facility NN was VBD damaged VBN   . .
It PRP also RB was VBD n't RB known VBN what WP the DT impact NN  will MD be VB  on IN the DT division NN 's POS work NN , , which WDT  includes VBZ the DT Navy NNP 's POS Trident NNP submarine-based JJ missile NN program NN and CC the DT Air NNP Force NNP 's POS Strategic NNP Defense NNP Initiative NNP . .
The DT division NN had VBD only RB minor JJ damage NN at IN its PRP$ Sunnyvale NNP headquarters NN and CC plant NN in IN Palo NNP Altos NNP , , and CC no DT delays NNS in IN deliveries NNS are VBP expected VBN  . .
LONGS NNP DRUG NNP STORES NNP INC. NNP , , Walnut NNP Creek NNP , , drugstore NN chain NN , , annual JJ sales NNS of IN $ $ 1.9 CD billion CD  , , NYSE NNP , , had VBD only RB minor JJ damage NN and CC only RB four CD of IN its PRP$ 75 CD Bay-area JJ stores NNS , , all DT in IN the DT Santa NNP Cruz NNP area NN , , were VBD closed JJ . .
All DT are VBP expected VBN  to TO reopen VB soon RB . .
LSI NNP LOGIC NNP CORP. NNP , , Milpitas NNP , , maker NN of IN customized JJ integrated JJ circuits NNS , , annual JJ sales NNS of IN $ $ 550 CD million CD  , , NYSE NNP , , has VBZ halted VBN manufacturing NN at IN its PRP$ three CD plants NNS in IN the DT area NN while IN they PRP are VBP inspected VBN  for IN structural JJ damage NN . .
The DT company NN expects VBZ  to TO resume VB full JJ operations NNS by IN today NN . .
R.H. NNP MACY NNP & CC Co. NNP , , New NNP York NNP , , retailer NN , , annual JJ sales NNS of IN $ $ 7 CD billion CD  , , said VBD  there EX was VBD minor JJ damage NN to TO its PRP$ 24 CD Macy NNP stores NNS and CC nine CD I. NNP Magnin NNP stores NNS in IN the DT Bay NNP area NN . .
MEASUREX NNP CORP. NNP , , Cupertino NNP , , maker NN of IN computer NN integrated JJ manufacturing NN processes NNS , , annual JJ sales NNS of IN $ $ 265 CD million CD  , , NYSE NNP , , had VBD only RB minor JJ damage NN but CC workers NNS spent VBD most RBS of IN yesterday NN  cleaning VBG up RP . .
NATIONAL NNP SEMICONDUCTOR NNP CORP. NNP , , Santa NNP Clara NNP , , semiconductor NN maker NN , , annual JJ sales NNS of IN $ $ 1.65 CD billion CD  , , NYSE NNP , , said VBD  it PRP had VBD no DT major JJ structural JJ damage NN at IN its PRP$ 30 CD Bay-area JJ buildings NNS , , but CC two CD workers NNS were VBD injured VBN  . .
Production NN resumed VBD yesterday NN . .
Piping NN in IN a DT waste-treatment NN plant NN needed VBD immediate JJ repairs NNS . .
NORDSTROM NNP INC. NNP , , Seattle NNP , , retailer NN , , annual JJ sales NNS $ $ 2.33 CD billion CD  , , OTC NNP , , five CD of IN this DT 59-store JJ chain NN 's POS nine CD stores NNS in IN the DT Bay NNP Area NNP were VBD closed JJ yesterday NN , , damage NN appears VBZ primarily RB cosmetic JJ , , hopes VBZ  to TO reopen VB four CD of IN the DT stores NNS by IN today NN and CC the DT fifth JJ by IN Saturday NNP . .
ORACLE NNP SYSTEMS NNP CORP. NNP , , Belmont NNP , , provider NN of IN computer NN programming NN and CC software NN services NNS , , annual JJ sales NNS $ $ 584 CD million CD  , , four CD of IN 12 CD offices NNS and CC buildings NNS in IN the DT Belmont NNP and CC San NNP Mateo NNP areas NNS were VBD closed JJ , , 95 CD % NN of IN computer NN and CC telephone NN systems NNS are VBP operating VBG , , expects VBZ  to TO be VB back RB to TO full JJ operation NN by IN the DT end NN of IN the DT week NN . .
PACIFIC NNP GAS NNP & CC ELECTRIC NNP CO. NNP , , San NNP Francisco NNP , , electric JJ , , gas NN and CC water NN supplier NN , , annual JJ sales NNS $ $ 7.6 CD billion CD  , , some DT minor JJ damage NN to TO headquarters NN , , undetermined JJ damage NN to TO four CD nearby JJ substations NNS , , severe JJ structural JJ damage NN to TO a DT major JJ power NN plant NN at IN Moss NNP Landing NNP , , extensive JJ damage NN to TO gas NN lines NNS and CC electric JJ lines NNS , , 400,000 CD residences NNS without IN electricity NN and CC 69,000 CD without IN gas NN , , can MD not RB reconnect VB electricity NN until IN it PRP is VBZ certain JJ  there EX are VBP no DT gas NN leaks NNS , , no DT predictions NNS on IN when WRB this DT will MD happen VB  . .
PACIFIC NNP TELESIS NNP GROUP NNP , , San NNP Francisco NNP , , telecommunications NNS holding NN company NN , , annual JJ sales NNS of IN $ $ 9.5 CD billion CD  , , no DT damage NN to TO headquarters NN , , but CC no DT power NN , , the DT power NN failure NN has VBZ caused VBN a DT delay NN in IN the DT release NN of IN the DT company NN 's POS earnings NNS report NN , , major JJ concern NN is VBZ subsidiaries NNS , , Pacific NNP Bell NNP and CC Pacific NNP Telesis NNP Cellular NNP , , both DT of IN which WDT  sustained VBD damage NN to TO buildings NNS , , structural JJ damage NN to TO several JJ cellular JJ sites NNS in IN Santa NNP Cruz NNP , , volume NN of IN calls NNS on IN cellular JJ phones NNS 10 CD times NNS the DT usual JJ , ,  causing VBG a DT big JJ slowdown NN . .
PROCTER NNP & CC GAMBLE NNP CO. NNP , , Cincinnati-based JJ company NN 's POS Folgers NNP Coffee NNP plant NN in IN South NNP San NNP Francisco NNP was VBD closed JJ following VBG the DT earthquake NN , , no DT injuries NNS or CC major JJ damage NN , , other JJ plants NNS around IN country NN can MD make VB up RP for IN any DT lost JJ production NN . .
QUANTUM NNP CORP. NNP , , Milpitas NNP , , manufactures VBZ rigid JJ disc NN drives NNS for IN small JJ business NN computers NNS , , word NN processors NNS , , annual JJ sales NNS $ $ 120.8 CD million CD  , , OTC NNP , , open JJ for IN business NN , , minor JJ structural JJ damage NN . .
RAYCHEM NNP CORP. NNP , , Menlo NNP Park NNP , , plastics NNS manufacturer NN , , annual JJ sales NNS $ $ 1 CD billion CD  , , no DT major JJ damage NN and CC no DT production NN slowdown NN is VBZ anticipated VBN  . .
ROSS NNP STORES NNP INC. NNP , , Newark NNP , , discount NN apparel NN chain NN , , annual JJ sales NNS $ $ 576 CD million CD  , , two CD of IN 28 CD stores NNS in IN Bay NNP Area NNP closed JJ , , both DT could MD open VB as RB early RB as IN today NN . .
SAFEWAY NNP STORES NNP INC. NNP , , Oakland NNP , , retail JJ food NN chain NN , , annual JJ sales NNS of IN $ $ 13.6 CD billion CD  , , some DT structural JJ damage NN to TO headquarters NN and CC no DT power NN ; : major JJ problems NNS  transporting VBG products NNS to TO those DT stores NNS that WDT  remained VBD open JJ ; : no DT numbers NNS on IN how WRB many JJ stores NNS  closed VBD . .
CHARLES NNP SCHWAB NNP & CC CO. NNP , , San NNP Francisco NNP , , discount NN brokerage NN firm NN , , annual JJ sales NNS of IN $ $ 392 CD million CD  , , had VBD only JJ minor JJ damage NN to TO headquarters NNS building NN and CC was VBD up RB and CC running VBG for IN yesterday NN 's POS market NN open NN . .
Firm NN will NN not RB , , however RB , , resume VB 24-hour JJ service NN until IN power NN in IN city NN is VBZ restored VBN  . .
Office NN closed VBD yesterday NN at IN 4:30 CD p.m. NN EDT NNP . .
SEAGATE NNP TECHNOLOGY NNP , , Scotts NNP Valley NNP , , maker NN of IN hard JJ disk NN drives NNS for IN computers NNS , , annual JJ sales NNS of IN $ $ 1.37 CD billion CD  , , OTC NNP , , closed VBD  to TO assess VB what WP  appeared VBD  to TO be VB minor JJ damage NN to TO some DT of IN its PRP$ 20 CD buildings NNS . .
SOUTHERN NNP PACIFIC NNP TRANSPORTATION NNP CO. NNP , , San NNP Francisco NNP , , railroad NN , , annual JJ sales NNS of IN $ $ 2.41 CD billion CD  , , had VBD only RB minor JJ damage NN to TO headquarters NN and CC tracks NNS , , and CC expects VBZ  to TO be VB fully RB operational JJ tomorrow NN . .
St. NNP Louis NNP Southwestern NNP Railway NNP Co. NNP unit NN halted VBD all DT service NN Tuesday NNP night NN but CC has VBZ since IN restored VBN some DT freight NN lines NNS and CC limited JJ commuter NN service NN between IN San NNP Francisco NNP and CC San NNP Jose NNP . .
SUN NNP MICROSYSTEMS NNP INC. NNP , , Mountain NNP View NNP , , maker NN of IN desktop JJ computers NNS , , annual JJ sales NNS $ $ 1.77 CD billion CD  , , OTC NNP , , no DT injured JJ employees NNS and CC very RB little JJ damage NN to TO buildings NNS . .
Closed VBN yesterday RB due JJ to TO power NN difficulties NNS . .
TANDEM NNP COMPUTERS NNP INC. NNP , , Cupertino NNP , , computer NN maker NN , , annual JJ sales NNS of IN $ $ 1.6 CD billion CD  , , NYSE NNP , , said VBD  it PRP had VBD no DT significant JJ damage NN and CC should MD be VB fully RB operational JJ within IN a DT week NN . .
Many JJ employees NNS stayed VBD home RB yesterday NN , , but CC customer NN service NN was VBD being VBG maintained VBN  . .
TRANSAMERICA NNP CORP. NNP , , San NNP Francisco NNP , , financial JJ services NNS and CC insurance NN company NN , , annual JJ sales NNS of IN $ $ 7.9 CD billion CD  , , NYSE NNP , , said VBD  its PRP$ headquarters NNS , , the DT well-known JJ downtown JJ pyramid-shaped JJ building NN , , was VBD intact JJ but CC closed JJ yesterday NN . .
VARIAN NNP ASSOCIATES NNP INC. NNP , , Palo NNP Alto NNP , , instrumentation NN and CC semiconductor NN equipment NN company NN , , annual JJ sales NNS of IN $ $ 1.3 CD billion CD  , , had VBD only RB minor JJ damage NN and CC no DT slowdowns NNS were VBD anticipated VBN  . .
VLSI NNP TECHNOLOGY NNP INC. NNP , , San NNP Jose NNP , , maker NN of IN semiconductor NN products NNS , , annual JJ sales NNS $ $ 171.9 CD million CD  , , OTC NNP , , minimal JJ damage NN to TO facilities NNS , , no DT injuries NNS , , expected VBN operations NNS to TO return VB to TO normal JJ late RB yesterday NN . .
WATKINS-JOHNSON NNP CO. NNP , , defense-oriented JJ electronics NN manufacturer NN , , annual JJ sales NNS $ $ 292 CD million CD  , , NYSE NNP , , minor JJ damage NN to TO headquarters NN and CC plant NN in IN Palo NNP Alto NNP , , no DT damage NN to TO San NNP Jose NNP plant NN , , `` `` still RB assessing VBG '' '' damage NN at IN Scotts NNP Valley NNP plant NN , , where WRB main JJ product NN is VBZ furnaces NNS for IN semiconductor NN production NN  . .
WELLS NNP FARGO NNP & CC CO. NNP , , San NNP Francisco NNP , , bank NN holding NN company NN , , annual JJ revenue NN $ $ 4.9 CD billion CD  , , NYSE NNP , , minor JJ damage NN at IN headquarters NN , , 12 CD branches NNS out IN of IN 170 CD in IN Northern NNP California NNP sustained VBD structural JJ damage NN that WDT  will MD preclude VB them PRP from IN  opening VBG in IN the DT near JJ future NN , , 45 CD locations NNS with IN at IN least JJS one CD automatic JJ teller NN machine NN inoperable JJ , , central JJ computer NN systems NNS are VBP operating VBG , , no DT injuries NNS . .
WYSE NNP TECHNOLOGY NNP INC. NNP , , San NNP Jose NNP , , maker NN of IN video JJ display NN terminals NNS and CC workstations NNS and CC IBM\/PC NNP compatible JJ computers NNS , , annual JJ sales NNS of IN $ $ 452 CD million CD  , , slight JJ structural JJ damage NN at IN headquarters NN , , no DT injuries NNS , , expects VBZ  to TO be VB back RB to TO full JJ operation NN today NN . .
3COM NNP CORP. NNP , , Santa NNP Clara NNP , , maker NN of IN computer NN communications NNS systems NNS , , annual JJ sales NNS of IN $ $ 386 CD million CD  , , OTC NNP , , slight JJ structural JJ damage NN to TO headquarters NNS , , communications NNS systems NNS already RB fully RB operational JJ . .
Could MD the DT collapse NN of IN I-880 NNP have VB been VBN prevented VBN  ? .
That DT was VBD the DT question NN  structural JJ engineers NNS and CC California NNP transportation NN officials NNS were VBD asking VBG themselves PRP  yesterday NN as IN rescue NN workers NNS began VBD the DT gruesome JJ task NN of IN  trying VBG  to TO extract VB as RB many JJ as IN 250 CD victims NNS from IN beneath IN the DT concrete JJ slabs NNS of IN the DT double-deck JJ Nimitz NNP Freeway NNP in IN Oakland NNP that WDT  caved VBD in RP during IN Tuesday NNP 's POS temblor NN . .
After IN  touring VBG the DT area NN , , California NNP Gov. NNP George NNP Deukmejian NNP late RB yesterday NN called VBD for IN an DT inquiry NN into IN the DT freeway NN 's POS collapse NN , ,  blaming VBG the DT disaster NN on IN substandard JJ construction NN , , the DT Associated NNP Press NNP reported VBD   . .
The DT impact NN of IN the DT destruction NN of IN this DT 2.5-mile JJ stretch NN of IN highway NN was VBD tragically RB measured VBN  in IN lost VBN lives NNS . .
But CC there EX are VBP other JJ long-term JJ effects NNS that WDT  raise VBP serious JJ questions NNS about IN the DT ability NN  of IN California NNP 's POS infrastructure NN  to TO withstand VB a DT major JJ temblor NN . .
It PRP  could MD easily RB be VB two CD years NNS before IN the DT well-traveled JJ artery NN that WDT  helps VBZ connect VB Oakland NNP with IN San NNP Francisco NNP is VBZ reopened VBN  , , and CC the DT cost NN  to TO build VB a DT new JJ stretch NN of IN highway NN could MD soar VB to TO more JJR than IN $ $ 250 CD million CD  , , said VBD   Charles NNP J. NNP O'Connell NNP , , deputy NN district NN director NN in IN Los NNP Angeles NNP of IN the DT California NNP Department NNP of IN Transportation NNP , , nicknamed VBN  Caltrans NNP . .
Caltrans NNP in IN Sacramento NNP said VBD  total JJ damage NN from IN the DT collapsed JJ highway NN is VBZ estimated VBN  at IN around IN $ $ 500 CD million CD  . .
The DT aftershocks NNS of IN the DT highway NN tragedy NN are VBP reverberating VBG in IN Los NNP Angeles NNP as IN well RB , , as IN local JJ politicians NNS spoke VBD yesterday NN against IN plans NNS  to TO bring VB double-decking NN to TO Los NNP Angeles NNP freeways NNS by IN 1994 CD . .
Caltrans NNP plans NNS  to TO add VB a DT second JJ deck NN for IN buses NNS and CC car NN pools NNS above IN the DT median NN of IN a DT 2.5-mile JJ stretch NN of IN the DT Harbor NNP Freeway NNP just RB south RB of IN Los NNP Angeles NNP , , near IN the DT Memorial NNP Coliseum NNP . .
Los NNP Angeles NNP County NNP Supervisor NNP Kenneth NNP Hahn NNP yesterday NN vowed VBD  to TO fight VB the DT introduction NN of IN double-decking NN in IN the DT area NN . .
Caltrans NNS abandoned VBD double-decking NN in IN the DT early JJ 1970s NNS , , following VBG the DT 1971 CD Sylmar NNP earthquake NN that WDT  destroyed VBD freeway NN sections NNS just RB north RB of IN Los NNP Angeles NNP , , Mr. NNP O'Connell NNP explained VBD   . .
That DT temblor NN measured VBD 6.1 CD on IN the DT Richter NNP scale NN ; : Tuesday NNP 's POS was VBD
So RB why WRB  even RB consider VB  stacking VBG freeways NNS now RB ? .
`` `` We PRP 've VBP run VBN out RP of IN places NNS   to TO build VB freeways NNS  in IN L.A. NNP , , and CC the DT only JJ place NN   to TO go VB  is VBZ up RB , , '' '' Mr. NNP O'Connell NNP said VBD  , , although IN he PRP acknowledges VBZ  there EX are VBP many JJ obstacles NNS , , including VBG cost NN . .
But CC as IN for IN safety NN , , he PRP says VBZ  double-deck JJ freeways NNS built VBN  today NN with IN the DT heavily RB reinforced VBN concrete JJ and CC thicker JJR columns NNS required VBN  after IN the DT Sylmar NNP quake NN should MD withstand VB a DT calamitous JJ temblor NN of IN 7.5 CD to TO 8 CD on IN the DT Richter NNP scale NN . .
Reasons NNS for IN the DT collapse NN of IN the DT Nimitz NNP Freeway NNP were VBD sketchy JJ yesterday NN . .
But CC most RBS structural JJ engineers NNS attributed VBD the DT destruction NN to TO improper JJ reinforcement NN of IN the DT columns NNS that WDT  supported VBD the DT decks NNS , , and CC the DT fact NN that IN the DT ground NN beneath IN the DT highway NN is VBZ largely RB landfill NN and CC can MD become VB unstable JJ , , or CC `` `` liquefy VB , , '' '' in IN a DT major JJ quake NN . .
The DT two-story JJ roadway NN , , designed VBN  in IN the DT mid-1940s NNS and CC completed VBN  in IN 1957 CD , , was VBD supported VBN  by IN columns NNS that WDT  apparently RB lacked VBD the DT kind NN of IN steel NN reinforcement NN used VBN  in IN highways NNS today NN . .
While IN the DT pillars NNS did VBD have VB long JJ metal NN bars NNS running VBG vertically RB through IN them PRP for IN reinforcement NN , , they PRP apparently RB lacked VBD an DT adequate JJ number NN of IN metal NN `` `` ties NNS '' '' that WDT  run VBP horizontally RB through IN the DT column NN , , said VBD   Leo NNP Parker NNP , , a DT structural JJ engineer NN in IN Los NNP Angeles NNP . .
Caltrans NNP today NN uses VBZ a DT variation NN of IN the DT design NN  Mr. NNP Parker NNP describes VBZ  , , with IN spiraling JJ steel NN rods NNS inside RB . .
But CC in IN the DT case NN of IN the DT Nimitz NNP Freeway NNP , , the DT lack NN of IN such JJ support NN caused VBD the DT core NN of IN the DT columns NNS to TO crumble VB and CC buckle VB under IN the DT weight NN of IN the DT second JJ deck NN , ,  crushing VBG motorists NNS who WP  were VBD lined VBN  up RP in IN bumper-to-bumper JJ rush-hour JJ traffic NN on IN the DT lower JJR deck NN nearly RB 15 CD feet NNS below RB . .
Officials NNS of IN the DT state NN agency NN did VBD n't RB have VB any DT immediate JJ explanation NN why WRB the DT reinforcement NN did VBD n't RB hold VB up RP  . .
Caltrans NNP reinforced VBD the DT highway NN in IN 1977 CD as IN part NN of IN a DT $ $ 55 CD million CD  statewide JJ project NN , ,  using VBG steel NN cables NNS  to TO tie VB the DT decks NNS of IN the DT freeway NN to TO the DT columns NNS and CC prevent VB the DT structure NN from IN  swaying VBG in IN a DT quake NN . .
Caltrans NNP spokesman NN Jim NNP Drago NNP in IN Sacramento NNP declined VBD  to TO identify VB the DT engineering NN firm NN that WDT  did VBD the DT reinforcement NN work NN . .
Liability NN in IN the DT bridge NN and CC road NN collapses NNS will MD revolve VB around IN whether IN government NN took VBD `` `` reasonable JJ care NN '' ''  to TO build VB and CC maintain VB the DT structures NNS , , says VBZ   John NNP Messina NNP , , a DT Tacoma NNP , , Wash. NNP , , personal-injury JJ attorney NN who WP  specializes VBZ in IN highway NN design NN and CC maintenance NN cases NNS . .
The DT firm NN brought VBD  in RP  to TO strengthen VB the DT structure NN could MD be VB liable JJ as RB well RB . .
The DT results NNS of IN the DT quake NN certainly RB raise VBP questions NNS about IN whether IN reasonable JJ care NN was VBD taken VBN  , , Mr. NNP Messina NNP says VBZ   . .
Given VBN the DT seismic JJ history NN of IN the DT Bay NNP Area NNP , , `` `` it PRP seems VBZ to TO me PRP that IN a DT 6.9 CD earthquake NN is VBZ a DT foreseeable JJ event NN . . '' ''
Caltrans NNP ' POS Mr. NNP Drago NNP defended VBD the DT agency NN 's POS work NN on IN the DT Nimitz NNP Freeway NNP . .
`` `` The DT work NN was VBD done VBN properly RB , , '' '' he PRP said VBD  . .
`` `` Basically RB , , we PRP had VBD a DT severe JJ earthquake NN of IN significant JJ duration NN and CC it PRP was VBD just RB something NN  the DT structure NN could MD n't RB withstand VB  . . '' ''
Ironically RB , , Caltrans NNP this DT year NN began VBD  working VBG on IN a DT second JJ round NN of IN seismic JJ reinforcements NNS of IN freeways NNS around IN the DT state NN , ,  this DT time NN wrapping VBG freeway NN columns NNS in IN `` `` steel NN blankets NNS '' ''  to TO reinforce VB them PRP . .
But CC only RB bridges NNS supported VBN  with IN single JJ rows NNS of IN columns NNS were VBD top JJ priority NN , , and CC the DT Nimitz NNP Freeway NNP , , supported VBN  by IN double JJ rows NNS , , was VBD left VBN  out RP , , Mr. NNP Drago NNP explained VBD   . .
`` `` The DT reason NN is VBZ that IN the DT technology NN is VBZ such JJ that IN we PRP 're VBP not RB able JJ  to TO retrofit VB multi-column JJ structures NNS , , '' '' he PRP said VBD  . .
Charles NNP McCoy NNP in IN San NNP Francisco NNP and CC John NNP R. NNP Emshwiller NNP in IN Los NNP Angeles NNP contributed VBD to TO this DT article NN . .
Lionel NNP Corp. NNP 's POS board NN unanimously RB rejected VBD a DT tender NN offer NN of IN $ $ 8 CD  a DT share NN , , or CC $ $ 95.4 CD million CD  , , for IN as RB much JJ as IN 90 CD % NN of IN Lionel NNP by IN a DT group NN with IN a DT 9.9 CD % NN stake NN in IN the DT toy NN retailer NN . .
Lionel NNP also RB urged VBD holders NNS of IN its PRP$ stock NN and CC debt NN  not RB to TO tender VB their PRP$ securities NNS , ,  saying VBG  it PRP wants VBZ  to TO remain VB independent JJ  to TO pursue VB its PRP$ business NN strategy NN . .
Lionel NNP also RB said VBD  the DT offer NN by IN Robert NNP I. NN Toussie NNP Limited NNP Partnership NNP is VBZ inadequate JJ , , and CC full JJ of IN conditions NNS that WDT  leave VB it PRP `` `` subject NN to TO substantial JJ uncertainty NN . . '' ''
In IN addition NN , , Lionel NNP began VBD a DT lawsuit NN  in IN federal JJ District NNP Court NNP in IN New NNP York NNP seeking VBG  to TO enjoin VB the DT offer NN , ,  alleging VBG , , among IN other JJ things NNS , , violations NNS of IN federal JJ securities NNS law NN and CC fraudulent JJ manipulation NN of IN the DT market NN for IN Lionel NNP 's POS securities NNS . .
Robert NNP I. NN Toussie NNP , , general JJ partner NN of IN the DT investment NN group NN , , said VBD  the DT Lionel NNP response NN reflected VBD management NN 's POS entrenched VBN position NN , ,  saying VBG  officials NNS had VBD failed VBN  to TO come VB up RP with IN a DT better JJR alternative NN to TO his PRP$ group NN 's POS offer NN . .
Mr. NNP Toussie NNP said VBD  he PRP would MD respond VB to TO Lionel NNP 's POS suit NN after IN his PRP$ lawyers NNS review VB it PRP . .
Efforts NNS  by IN a DT federal JJ mediator NN  to TO reignite VB talks NNS between IN Boeing NNP Co. NNP and CC the DT Machinists NNPS union NN apparently RB failed VBD , , and CC no DT further JJ meetings NNS are VBP scheduled VBN  . .
Company NN officials NNS and CC union NN representatives NNS did VBD n't RB meet VB face NN to TO face VB , , but CC the DT mediator NN shuttled VBD between IN the DT two CD groups NNS . .
In IN a DT statement NN issued VBN  after IN the DT meeting NN , , the DT aerospace JJ giant NN said VBD  it PRP wo MD n't RB increase VB its PRP$ offer NN although IN adjustments NNS within IN the DT proposed JJ pay-and-benefit JJ mix NN are VBP possible JJ . .
Machinists NNS already RB have VBP rejected VBN a DT proposal NN that WDT  called VBD for IN a DT 4 CD % NN pay NN increase NN and CC 8 CD % NN bonus NN in IN the DT first JJ year NN . .
In IN the DT second JJ year NN , , workers NNS would MD receive VB a DT 3 CD % NN wage NN boost NN and CC a DT 3 CD % NN bonus NN , , followed VBN by IN a DT 3 CD % NN increase NN without IN a DT bonus NN in IN the DT third JJ year NN . .
`` `` The DT company NN will MD not RB budge VB on IN anything NN , , '' '' said VBD  a DT spokesman NN for IN the DT union NN . .
As IN the DT strike NN enters VBZ its PRP$ 15th JJ day NN today NN , , some DT members NNS are VBP getting VBG nervous JJ , , the DT spokesman NN conceded VBD   , , but CC the DT majority NN of IN the DT 55,000 CD Machinists NNPS are VBP prepared VBN  to TO `` `` wait VB it PRP out RP as RB long RB as IN it PRP takes VBZ  . .
United NNP Merchants NNP & CC Manufacturers NNP Inc. NNP said VBD  its PRP$ president NN , , Uzi NNP Ruskin NNP , , withdrew VBD his PRP$ proposal NN  to TO acquire VB control NN of IN the DT New NNP York NNP textile JJ and CC clothing NN company NN . .
Last JJ month NN , , Mr. NNP Ruskin NNP proposed VBD , , among IN other JJ things NNS , ,  to TO buy VB 3.5 CD million CD shares NNS , , or CC 38 CD % NN , , for IN $ $ 4 CD  apiece RB . .
Coupled VBN with IN his PRP$ current JJ 1.2 CD million CD shares NNS and CC 4 CD % NN held VBN  by IN an DT associate NN , , the DT stake NN would MD have VB given VBN him PRP control NN of IN 55 CD % NN of IN the DT concern NN . .
In IN a DT Securities NNP and CC Exchange NNP Commission NNP filing NN , , Mr. NNP Ruskin NNP had VBD said VBN that IN holders NNS of IN the DT other JJ 45 CD % NN of IN United NNP Merchants NNP would MD receive VB one-half JJ share NN of IN a DT new JJ preferred JJ stock NN for IN each DT of IN their PRP$ shares NNS . .
A DT special JJ committee NN of IN United NNP Merchants NNP directors NNS said VBD that IN in IN view NN of IN uncertainties NNS regarding VBG various JJ legal JJ and CC financial JJ considerations NNS , , it PRP could MD n't RB recommend VB the DT plan NN to TO the DT full JJ board NN . .
The DT company NN is VBZ exploring VBG , , with IN a DT major JJ financial JJ institution NN , , the DT development NN of IN a DT plan NN  to TO boost VB the DT value NN of IN the DT company NN for IN its PRP$ holders NNS , , Mr. NNP Ruskin NNP said VBD   . .
In IN a DT separate JJ SEC NNP filing NN , , Albert NNP Safer NNP , , who WP  holds VBZ 6.46 CD % NN of IN United NNP Merchants NNP , , said VBD  he PRP retained VBD investment NN bank NN Lazard NNP Freres NNP & CC Co. NNP for IN advice NN as IN he PRP evaluates VBZ the DT possibility NN of IN  making VBG a DT bid NN for IN the DT textile JJ maker NN . .
On IN Friday NNP , , Mr. NNP Safer NNP , , a DT Newark NNP , , N.J. NNP , , textile JJ businessman NN , , signed VBD a DT confidentiality NN agreement NN under IN which WDT United NNP Merchants NNP would MD provide VB him PRP with IN nonpublic JJ information NN  . .
The DT White NNP House NNP is VBZ making VBG sure RB  nobody NN will MD accuse VB it PRP of IN  taking VBG this DT crisis NN lightly RB . .
In IN the DT aftermath NN of IN the DT California NNP earthquake NN , , President NNP Bush NNP and CC his PRP$ aides NNS flew VBD into IN a DT whirlwind NN of IN earthquake-related JJ activity NN yesterday NN morning NN . .
Some DT of IN it PRP was VBD necessary JJ  to TO get VB federal JJ help NN flowing VBG to TO victims NNS , , but CC some DT seemed VBD designed VBN  mostly RB  to TO project VB an DT image NN of IN a DT White NNP House NNP in IN action NN . .
Mr. NNP Bush NNP and CC his PRP$ aides NNS were VBD accused VBN  of IN  responding VBG too RB slowly RB after IN the DT Exxon NNP Valdez NNP oil NN tanker NN split VBD open RB in IN Alaskan JJ waters NNS and CC Hurricane NNP Hugo NNP struck VBD the DT Carolina NNP coast NN , , and CC they PRP clearly RB do VBP n't RB want VB a DT repeat NN of IN those DT charges NNS now RB . .
So IN the DT White NNP House NNP announced VBD that IN Mr. NNP Bush NNP got VBD his PRP$ first JJ earthquake NN briefing NN of IN the DT day NN at IN 6:30 CD a.m. NN from IN chief NN of IN staff NN John NNP Sununu NNP . .
By IN noon NN , , Mr. NNP Bush NNP had VBD taken VBN two CD phone NN calls NNS from IN Vice NNP President NNP Dan NNP Quayle NNP , , who WP  was VBD in IN California NNP ; : made VBN a DT televised VBN statement NN of IN concern NN ; : signed VBN a DT disaster NN proclamation NN ; : received VBN a DT written JJ report NN from IN the DT Federal NNP Emergency NNP Management NNP Agency NNP ; : and CC visited VBN FEMA NNP headquarters NN . .
Mr. NNP Bush NNP himself PRP essentially RB acknowledged VBD that IN he PRP and CC his PRP$ aides NNS were VBD trying VBG  to TO head VB off RP criticism NN . .
On IN his PRP$ FEMA NNP visit NN , , Mr. NNP Bush NNP said VBD that IN he PRP hoped VBD  there EX would MD be VB `` `` less JJR carping NN '' '' about IN the DT emergency NN office NN 's POS performance NN this DT time NN , ,  adding VBG that IN the DT agency NN `` `` took VBD a DT hit NN '' '' for IN its PRP$ reaction NN to TO Hurricane NNP Hugo NNP . .
The DT White NNP House NNP already RB is VBZ talking VBG of IN Mr. NNP Bush NNP visiting VBG the DT California NNP earthquake NN site NN this DT weekend NN . .
He PRP visited VBD the DT Hugo NNP devastation NN but CC not RB until IN after IN local JJ leaders NNS urged VBD him PRP  to TO do VB so RB . .
Beazer NNP PLC NNP , , a DT major JJ British JJ building NN materials NNS and CC construction NN concern NN , , reported VBD a DT 24 CD % NN jump NN in IN pretax JJ profit NN for IN its PRP$ latest JJS financial JJ year NN , ,  helped VBN  largely RB by IN contributions NNS from IN its PRP$ U.S. NNP unit NN , , Koppers NNP Co NNP . .
Pretax JJ profit NN for IN the DT year NN to TO June NNP 30 CD rose VBD to TO # # 142.5 CD million CD  -LRB- -LRB- $ $ 224.5 CD million CD  -RRB- -RRB- from IN # # 114.7 CD million CD  -LRB- -LRB- $ $ 180.7 CD million CD  -RRB- -RRB- , ,  broadly RB matching VBG analysts NNS ' POS expectations NNS . .
Profit NN after IN taxes NNS and CC minority NN interests NNS but CC before IN extraordinary JJ items NNS increased VBD 22 CD % NN to TO # # 92.6 CD million CD  from IN # # 75.6 CD million CD  a DT year NN earlier RBR , , while IN fully RB diluted VBN earnings NNS per IN share NN rose VBD to TO 29.90 CD pence NNS -LRB- -LRB- 47 CD cents NNS -RRB- -RRB- from IN 24.68 CD pence NNS -LRB- -LRB- 39 CD cents NNS -RRB- -RRB- . .
The DT lethal JJ shudders NNS that WDT  wracked VBD the DT San NNP Francisco NNP Bay NNP Area NNP -- : rated VBN  a DT 6.9 CD on IN the DT Richter JJR scale NN -- : did VBD n't RB match VB the DT great JJ earthquake NN of IN 1906 CD , , rated VBN  at IN 8.25 CD . .
The DT difference NN of IN just RB 1.35 CD points NNS on IN the DT scale NN , , designed VBN  by IN Charles NNP Richter NNP of IN CalTech NNP in IN the DT 1930s NNS , , means VBZ  the DT older JJR quake NN was VBD `` `` 10 CD to TO 20 CD times NNS stronger JJR , , '' '' says VBZ  Lane NNP Johnson NNP , , director NN of IN the DT University NNP of IN California NNP Berkeley NNP Seismographic NNP Station NNP . .
The DT ground NN ruptured VBD along IN a DT 20-to-30-mile JJ stretch NN of IN the DT San NNP Andreas NNP Fault NNP on IN Tuesday NNP , , Mr. NNP Johnson NNP added VBD   . .
In IN 1906 CD , , the DT rupture NN was VBD 300 CD miles NNS long JJ and CC a DT couple NN feet NNS wide JJ . .
Though IN the DT epicenter NN of IN Tuesday NNP 's POS temblor NN was VBD located VBN  10 CD miles NNS north RB of IN the DT town NN of IN Santa NNP Cruz NNP , , and CC 50 CD miles NNS south RB of IN San NNP Francisco NNP , , its PRP$ havoc NN hopscotched VBD up IN the DT coast NN in IN seemingly RB random JJ fashion NN . .
But CC the DT greatest JJS damage NN was VBD visited VBN  on IN buildings NNS and CC roadways NNS perched VBN  upon IN landfill NN , , as IN were VBD  the DT Marina NNP District NNP of IN San NNP Francisco NNP and CC the DT Bay NNP Bridge NNP -- : two CD areas NNS of IN maximum JJ devastation NN . .
`` `` Landfill NN -- : loose JJ and CC unconsolidated JJ earth NN -- : may MD feel VB like IN rock NN but CC it PRP behaves VBZ like IN liquid NN when WRB you PRP shake VBP it PRP  , , '' '' said VBD  Douglas NNP Segar NNP , , professor NN of IN geosciences NNS at IN San NNP Francisco NNP State NNP University NNP in IN a DT televised JJ interview NN . .
`` `` It PRP liquefies VBZ in IN a DT patchwork JJ quilt NN pattern NN . .
Our PRP$ quake NN behaved VBD much RB like IN the DT Mexico NNP City NNP earthquake NN , , where WRB great JJ damage NN was VBD miles NNS from IN the DT epicenter NN  . . '' ''
Mr. NNP Johnson NNP , , of IN the DT Berkeley NNP seismographic JJ station NN , , said VBD : : `` `` Landfill NN can MD be VB done VBN  if IN it PRP 's VBZ properly RB compacted VBN  . .
You PRP can MD drive VB piles NNS on IN it PRP and CC build VB on IN it PRP . . '' ''
He PRP cited VBD the DT example NN of IN San NNP Francisco NNP 's POS financial JJ district NN , , where WRB many JJ new JJ glass NN towers NNS survived VBD  almost RB unscathed JJ  . .
But CC the DT public JJ policy NN issues NNS raised VBN  by IN earthquake NN damage NN will MD be VB difficult JJ   to TO address VB  , , Mr. NNP Johnson NNP predicted VBD   . .
`` `` The DT attention NN span NN of IN the DT public NN is VBZ short JJ , , '' '' he PRP said VBD  . .
`` `` We PRP 've VBP known VBN for IN years NNS and CC years NNS  we PRP 've VBP got VBD lots NNS of IN old JJ -LCB- -LRB- pre-1950s JJ -RCB- -RRB- unreinforced JJ brick NN and CC masonry NN buildings NNS . . '' ''
One CD old JJ building NN , , the DT Golden NNP State NNP Bank NNP Building NNP on IN Front NNP Street NNP , , had VBD its PRP$ yellow JJ brick NN facade NN sheared VBN  off RP by IN the DT shock NN of IN the DT quake NN , ,  leaving VBG a DT wedge NN of IN its PRP$ third JJ floor NN open RB to TO the DT air NN , , while IN piles NNS of IN dusty JJ bricks NNS tumbled VBD to TO the DT street NN below RB  narrowly RB missing VBG rush-hour JJ pedestrians NNS and CC cars NNS . .
 Reinforcing VBG such JJ old JJ building NN stock NN , , Mr. NNP Johnson NNP said VBD   , , `` `` comes VBZ down RB to TO money NN . .
It PRP 's VBZ a DT danger NN . .
We PRP know VBP  it PRP 's VBZ there RB . .
And CC sooner RB or CC later RB , , we PRP have VBP  to TO do VB something NN about IN it PRP . . '' ''
The DT urgency NN is VBZ heightened VBN  because RB this DT week NN 's POS earthquake NN -- : while IN  major JJ and CC followed VBN  by IN hundreds NNS of IN aftershocks NNS -- : did VBD n't RB release VB enough JJ pent-up JJ energy NN tension NN  along IN the DT faultlines NNS  to TO preclude VB more JJR and CC bigger JJR quakes NNS soon RB . .
`` `` The DT big JJ one CD is VBZ still RB due JJ , , '' '' Mr. NNP Johnson NNP predicted VBD  in IN an DT interview NN . .
`` `` The DT Bay NNP Area NNP has VBZ three CD very RB dangerous JJ faults NNS , , the DT San NNP Andreas NNP , , the DT Hayward NNP fault NN and CC the DT Calaveras NNS fault NN . .
It PRP -LCB- -LRB- Tuesday NNP 's POS quake NN -RCB- -RRB- has VBZ n't RB solved VBD our PRP$ problem NN . .
In IN California NNP , , this DT is VBZ the DT reality NN . .
Coca-Cola NNP Co. NNP may MD be VB about RB  to TO intensify VB the DT cola NN wars NNS . .
Coke NNP said VBD  it PRP will MD test NN market VB a DT caffeine-free JJ version NN of IN its PRP$ flagship JJ brand NN , , Coca-Cola NNP Classic NNP , , beginning VBG next JJ week NN in IN Charlotte NNP , , N.C NNP . .
Other JJ , , as RB yet RB unnamed JJ , , cities NNS will MD follow VB . .
If IN all DT goes VBZ well RB , , the DT product NN will MD be VB rolled VBN  out RP for IN national JJ sales NNS sometime RB next IN year NN , , a DT Coke NNP spokesman NN said VBD   . .
After IN the DT confusion NN surrounding VBG the DT change NN of IN the DT Coke NNP formula NN in IN 1985 CD , , Coca-Cola NNP was VBD reluctant JJ  to TO clutter VB the DT Classic NNP name NN with IN a DT brand NN extension NN . .
But CC now RB , , the DT soft-drink NN giant NN appears VBZ willing JJ  to TO take VB the DT risk NN . .
`` `` The DT name NN Classic NNP Coke NNP has VBZ tremendous JJ value NN , , and CC they PRP have VBP n't RB merchandised VBN that DT name NN before RB , , '' '' says VBZ  Jesse NNP Meyers NNP , , publisher NN of IN the DT trade NN journal NN Beverage NNP Digest NNP . .
The DT Coke NNP spokesman NN said VBD  a DT caffeine-free JJ Classic NN should MD help VB  increase VB volume NN of IN the DT original JJ brand NN . .
Indeed RB , , analysts NNS have VBP said VBD that IN the DT absence NN of IN new JJ products NNS , , among IN other JJ factors NNS , , has VBZ limited VBN sales JJ growth NN throughout IN the DT industry NN . .
Coke NNP now RB leads VBZ Pepsi NNP in IN market NN share NN in IN caffeine-free JJ diet NN colas NNS but CC trails VBZ Pepsi NNP in IN sales NNS of IN caffeine-free JJ sugared JJ colas NNS , , according VBG to TO Beverage NNP Digest NNP . .
Coke NNP introduced VBD a DT caffeine-free JJ sugared JJ cola NN based VBN on IN its PRP$ original JJ formula NN in IN 1983 CD . .
It PRP switched VBD to TO a DT caffeine-free JJ formula NN using VBG its PRP$ new JJ Coke NNP in IN 1985 CD . .
Coke NNP has VBZ been VBN studying VBG the DT possibility NN of IN  introducing VBG a DT caffeine-free JJ Classic NNP for IN a DT year NN , , a DT company NN spokesman NN said VBD   . .
He PRP said VBD  large JJ increases NNS in IN sales NNS of IN other JJ non-caffeine JJ soft JJ drinks NNS make VBP the DT timing NN right RB now RB . .
CALIFORNIA NNP STRUGGLED VBD with IN the DT aftermath NN of IN a DT Bay NNP area NN earthquake NN . .
As IN aftershocks NNS shook VBD the DT San NNP Francisco NNP Bay NNP area NN , , rescuers NNS searched VBD through IN rubble NN for IN survivors NNS of IN Tuesday NNP 's POS temblor NN , , and CC residents NNS picked VBD their PRP$ way NN through IN glass-strewn JJ streets NNS . .
In IN Oakland NNP , , hopes NNS  faded VBD for IN  finding VBG any DT more JJR survivors NNS within IN the DT concrete NN and CC steel NN from IN the DT collapse NN of IN an DT interstate JJ highway NN . .
At IN least JJS 270 CD people NNS were VBD reported VBN  killed VBN   and CC 1,400 CD injured VBN  in IN the DT rush-hour JJ tremor NN that WDT  caused VBD billions NNS of IN dollars NNS of IN damage NN along IN 100 CD miles NNS of IN the DT San NNP Andreas NNP fault NN . .
Bush NNP declared VBD the DT region NN a DT major JJ disaster NN area NN and CC the DT military NN was VBD mobilized VBN   to TO prevent VB looting NN . .
The DT baseball NN commissioner NN said VBD  the DT third JJ game NN of IN the DT World NNP Series NNP between IN the DT Giants NNP and CC the DT Athletics NNP would MD be VB played VBN  Tuesday NNP in IN Candlestick NNP Park NNP . .
HONECKER NNP WAS VBD OUSTED VBN  as IN leader NN of IN East NNP Germany NNP amid IN growing VBG unrest NN . .
The DT 77-year-old JJ official NN , , who WP  oversaw VBD the DT building NN of IN the DT Berlin NNP Wall NNP , , was VBD removed VBN  during IN a DT meeting NN of IN the DT 163-member JJ Communist NNP Party NNP Central NNP Committee NNP in IN East NNP Berlin NNP . .
Honecker NNP , , who WP  was VBD reported VBN  ill JJ following VBG gall-bladder NN surgery NN in IN August NNP , , said VBD  he PRP was VBD resigning VBG for IN health NN reasons NNS . .
He PRP was VBD succeeded VBN  by IN internal-security NN chief NN Egon NNP Krenz NNP , , 52 CD , , a DT hard-liner NN who WP  quickly RB ruled VBD out RP any DT sharing NN of IN power NN with IN pro-democracy JJ groups NNS . .
Honecker NNP 's POS departure NN came VBD after IN weeks NNS of IN street NN protests NNS and CC an DT exodus NN to TO the DT West NNP of IN East NNP Germans NNPS who WP  had VBD become VBN disenchanted JJ with IN his PRP$ rule NN . .
HUNGARY NNP ADOPTED VBD constitutional JJ changes NNS  to TO form VB a DT democratic JJ system NN . .
At IN a DT nationally RB televised VBN legislative JJ session NN in IN Budapest NNP , , the DT Parliament NNP overwhelmingly RB approved VBD changes NNS formally RB ending VBG one-party JJ domination NN in IN the DT country NN , , regulating VBG free JJ elections NNS by IN next JJ summer NN and CC establishing VBG the DT office NN of IN state NN president NN   to TO replace VB a DT 21-member JJ council NN . .
The DT country NN was VBD renamed VBN  the DT Republic NNP of IN Hungary NNP . .
Like IN other JJ Soviet JJ bloc NN nations NNS , , it PRP had VBD been VBN known VBN  as IN a DT `` `` people NNS 's POS republic NN '' '' since IN
The DT voting NN for IN new JJ laws NNS followed VBD dissolution NN of IN Hungary NNP 's POS Communist NNP Party NNP this DT month NN and CC its PRP$ replacement NN by IN a DT Western-style JJ Socialist NNP Party NNP . .
The DT space NN shuttle NN Atlantis NNP blasted VBD into IN orbit NN from IN Cape NNP Canaveral NNP , , Fla. NNP , , and CC its PRP$ crew NN of IN five CD astronauts NNS launched VBD the DT nuclear-powered JJ Galileo NNP space NN probe NN on IN a DT flight NN to TO the DT planet NN Jupiter NNP . .
The DT $ $ 1.4 CD billion CD  robot NN spacecraft NN 's POS exploratory JJ mission NN is VBZ  to TO take VB six CD years NNS . .
The DT shuttle NN is VBZ slated VBN  to TO return VB Monday NNP to TO California NNP . .
South NNP Korea NNP 's POS President NNP Roh NNP addressed VBD a DT joint JJ House-Senate NNP meeting NN and CC urged VBD patience NN over IN U.S. NNP demands NNS for IN the DT opening NN of IN Seoul NNP 's POS markets NNS to TO more JJR American JJ goods NNS , ,  saying VBG  trade NN issues NNS would MD be VB `` `` resolved VBN  to TO mutual JJ satisfaction NN . . '' ''
He PRP also RB said VBD  tragic JJ results NNS could MD follow VB any DT `` `` hint NN of IN weakening NN '' '' of IN the DT U.S. NNP defense NN commitment NN to TO Seoul NNP . .
The DT Census NNP Bureau NNP reported VBD that IN 13.1 CD % NN of IN the DT U.S. NNP population NN , , or CC 31.9 CD million CD people NNS , , were VBD living VBG in IN poverty NN in IN 1988 CD . .
Last JJ year NN 's POS figure NN was VBD down RB from IN 13.4 CD % NN in IN 1987 CD and CC marked VBD the DT fifth JJ consecutive JJ annual JJ decline NN in IN the DT poverty NN rate NN . .
Per IN capita NN income NN rose VBD 1.7 CD % NN to TO $ $ 13,120 CD  , , but CC median JJ family NN income NN fell VBD 0.2 CD % NN . .
The DT Bush NNP administration NN accused VBD Israeli NNP Prime NNP Minister NNP Shamir NNP of IN  hindering VBG peace NN efforts NNS in IN the DT Mideast NNP with IN `` `` unhelpful JJ '' '' and CC disappointing JJ statements NNS . .
Shamir NNP said VBD Tuesday NNP that IN he PRP was VBD prepared VBN  to TO risk VB a DT policy NN conflict NN with IN the DT U.S. NNP over IN an DT Egyptian JJ plan NN  to TO hold VB direct JJ Israeli-Palestinian JJ talks NNS , , which WDT the DT premier NN 's POS Likud NNP bloc NN opposes VBZ  . .
Cuba NNP was VBD elected VBN  to TO the DT U.N. NNP Security NNP Council NNP for IN the DT first JJ time NN since IN its PRP$ Castro-led JJ revolution NN 30 CD years NNS ago RB . .
The DT election NN was VBD by IN secret JJ ballot NN in IN the DT General NNP Assembly NNP . .
The DT U.S. NNP did VBD n't RB openly RB oppose VB Cuba NNP 's POS seating NN as IN the DT Latin JJ American JJ council NN delegate NN . .
Britain NNP 's POS Prime NNP Minister NNP Thatcher NNP told VBD a DT Commonwealth NNP summit NN in IN Kuala NNP Lumpur NNP , , Malaysia NNP , , that WDT sanctions NNS against IN South NNP Africa NNP were VBD `` `` utterly RB irresponsible JJ , , '' '' officials NNS said VBD   . .
But CC other JJ nations NNS at IN the DT opening NN of IN the DT 49-nation JJ meeting NN of IN Britain NNP and CC its PRP$ former JJ colonies NNS pressed VBD for IN continued JJ or CC stronger JJR embargoes NNS in IN an DT effort NN  to TO end VB apartheid NN . .
Arab JJ officials NNS in IN Saudi NNP Arabia NNP said VBD  three-week-old JJ talks NNS by IN Lebanese JJ lawmakers NNS aimed VBN  at IN  ending VBG Lebanon NNP 's POS civil JJ war NN appeared VBD  about RB  to TO collapse VB . .
Christian JJ legislators NNS are VBP insisting VBG on IN a DT Syrian JJ troop NN pullout NN from IN Lebanon NNP before IN  agreeing VBG to TO political JJ changes NNS giving VBG the DT nation NN 's POS Moslems NNPS a DT greater JJR role NN in IN Beirut NNP 's POS government NN . .
Colombia NNP 's POS judges NNS launched VBD a DT 72-hour JJ strike NN   to TO press VB security NN demands NNS following VBG Tuesday NNP 's POS murder NN of IN a DT High NNP Court NNP justice NN in IN Medellin NNP . .
The DT country NN 's POS narcotics NNS traffickers NNS claimed VBD responsibility NN for IN the DT slaying NN . .
Most JJS of IN the DT country NN 's POS 20,000 CD judges NNS and CC judicial JJ employees NNS joined VBD the DT work NN stoppage NN . .
Charles NNP S. NNP Mitchell NNP , , a DT vice NN president NN with IN Homart NNP Development NNP Co. NNP , , the DT real JJ estate NN development NN subsidiary NN of IN Sears NNP , , Roebuck NNP & CC Co. NNP , , was VBD named VBN  president NN of IN Figgie NNP Properties NNP , , a DT real JJ estate NN development NN unit NN . .
He PRP succeeds VBZ William NNP Kohut NNP , , who WP  resigned VBD earlier RBR this DT year NN . .
Also RB , , Richard NNP A. NN Barkley NNP , , a DT former JJ marketing NN executive NN with IN FMC NNP Corp. NNP , , was VBD appointed VBN  president NN of IN Continental NNP Container NNP Systems NNP , , a DT producer NN of IN can NN closing VBG machinery NN that IN Figgie NNP acquired VBD  late RB last JJ year NN . .
Figgie NNP is VBZ a DT fire NN protection NN , , electronics NN and CC industrial JJ products NNS concern NN . .
Dow NNP Chemical NNP Co. NNP said VBD  third-quarter JJ net JJ income NN slipped VBD 6.8 CD % NN from IN a DT record JJ year-ago JJ quarter NN . .
The DT decline NN broke VBD a DT streak NN of IN 10 CD quarters NNS in IN which WDT Dow NNP posted VBD earnings NNS increases NNS  . .
Dow NNP 's POS third-quarter JJ net NN fell VBD to TO $ $ 589 CD million CD  , , or CC $ $ 3.29 CD  a DT share NN , , from IN $ $ 632 CD million CD  , , or CC $ $ 3.36 CD  a DT share NN , , a DT year NN ago RB . .
Sales NNS in IN the DT latest JJS quarter NN rose VBD 2 CD % NN to TO $ $ 4.25 CD billion CD  from IN $ $ 4.15 CD billion CD  a DT year NN earlier RBR . .
Dow NNP closed VBD at IN $ $ 94.625 CD  a DT share NN , , up RB 75 CD cents NNS , , in IN New NNP York NNP Stock NNP Exchange NNP composite JJ trading NN . .
A DT spokeswoman NN said VBD  Dow NNP is VBZ comfortable JJ with IN Wall NNP Street NNP expectations NNS that IN full-year JJ earnings NNS will MD total VB about RB $ $ 14.60 CD  a DT share NN , , compared VBN with IN last JJ year NN 's POS record JJ net NN of IN $ $ 2.4 CD billion CD  , , or CC $ $ 12.76 CD  a DT share NN . .
But CC that DT signal NN on IN full-year JJ profit NN casts VBZ doubt NN on IN whether IN Dow NNP will MD improve VB on IN its PRP$ year-ago JJ fourth-quarter JJ net NN of IN $ $ 3.44 CD  a DT share NN , , or CC $ $ 635 CD million CD  . .
Dow NNP would MD earn VB $ $ 14.85 CD  a DT share NN for IN the DT year NN if IN it PRP equaled VBD that IN year-ago JJ fourth-quarter JJ performance NN . .
Dow NNP officials NNS were VBD signaling VBG that IN the DT company NN would MD earn VB less JJR than IN $ $ 15 CD  a DT share NN this DT year NN even RB before IN they PRP announced VBD in IN July NNP a DT plan NN  to TO acquire VB 67 CD % NN of IN Marion NNP Laboratories NNP Inc NNP . .
That DT acquisition NN could MD further RB dilute VB earnings NNS per IN share NN this DT year NN , , the DT company NN spokeswoman NN said VBD   . .
Dow NNP has VBZ n't RB said VBD exactly RB what WP impact NN the DT Marion NNP acquisition NN will MD have VB  on IN 1989 CD earnings NNS . .
Dow NNP blamed VBD the DT third-quarter JJ earnings NNS drop NN on IN several JJ factors NNS , , including VBG softer JJR prices NNS for IN polyethylene NN and CC other JJ basic JJ chemicals NNS , , a DT slower JJR U.S. NNP economy NN and CC a DT stronger JJR dollar NN , , which WDT  made VBD Dow NNP 's POS exports NNS from IN the DT U.S. NNP more RBR expensive JJ to TO overseas JJ customers NNS . .
Another DT problem NN was VBD a DT 7 CD % NN increase NN in IN operating NN costs NNS at IN a DT time NN when WRB revenue NN was VBD rising VBG by IN only RB 2 CD % NN  . .
For IN the DT first JJ nine CD months NNS of IN the DT year NN , , Dow NNP earned VBD $ $ 2.06 CD billion CD  , , or CC $ $ 11.41 CD  a DT share NN , , up RB 17 CD % NN from IN $ $ 1.76 CD billion CD  , , or CC $ $ 9.32 CD  a DT share NN , , a DT year NN ago RB . .
Sales NNS for IN the DT latest JJS nine CD months NNS rose VBD 7.7 CD % NN to TO $ $ 13.34 CD billion CD  from IN $ $ 12.38 CD billion CD  in IN the DT year-ago JJ period NN . .
Whether IN or CC not RB `` `` great JJ cases NNS make VBP bad-law NN '' '' -- : as IN Justice NNP Holmes NNP asserted VBD  -- : who WP  can MD doubt VB that IN when WRB great JJ confirmation NN hearings NNS turn VBP on IN the DT nominee NN 's POS response NN to TO these DT great JJ cases NNS  they PRP make VBP bad JJ judicial JJ history NN ? .
Ethan NNP Bronner NNP 's POS `` `` Battle NN for IN Justice NN : : How WRB the DT Bork NNP Nomination NN Shook VBD America NNP '' '' -LRB- -LRB- Norton NNP , , 399 CD pages NNS , , $ $ 22.50 CD  -RRB- -RRB- is VBZ a DT spirited JJ narrative NN of IN the DT nastiest JJS of IN these DT hearings NNS , , done VBN  with IN journalistic JJ verve NN , , but CC with IN a DT flawed JJ legal JJ philosophy NN . .
While IN the DT book NN amply RB justifies VBZ its PRP$ subtitle NN , , the DT title NN itself PRP is VBZ dubious JJ . .
What WP  shook VBD America NNP was VBD not RB a DT battle NN for IN justice NN but CC for IN naked JJ power NN , , in IN which WDT an DT army NN of IN judicial JJ activists NNS rolled VBD over RB a DT judge NN  they PRP had VBD demonized VBN   . .
In IN its PRP$ basic JJ structure NN and CC style NN the DT book NN is VBZ novelistic JJ , , with IN piquant JJ character NN portrayal NN , , hard-wire JJ action NN and CC devious JJ intrigue NN of IN the DT sort NN more RBR likely JJ  to TO be VB encountered VBN  in IN a DT Washington NNP docudrama NN than IN in IN a DT constitutional JJ history NN . .
Mr. NNP Bronner NNP seems VBZ  to TO believe VB that IN the DT hearings NNS could MD have VB gone VBN either DT way NN . .
I PRP doubt VBP that DT . .
Given VBN Democratic JJ frustration NN with IN the DT Reagan NNP victories NNS and CC Court NNP appointments NNS , , the DT contingency NN plans NNS in IN place NN , , and CC Mr. NNP Bork NNP 's POS paper NN trail NN of IN vulnerable JJ writings NNS , , it PRP  was VBD pretty RB clear JJ that IN Judge NNP Bork NNP never RB stood VBD much JJ chance NN of IN  being VBG confirmed VBN  . .
As IN Mr. NNP Bronner NNP himself PRP says VBZ   , , the DT smell NN of IN `` `` raw JJ meat NN '' '' was VBD in IN the DT air NN . .
Perhaps RB because IN they PRP won VBD , , Mr. NNP Bork NNP 's POS attackers NNS come VBD through RP more RBR vividly RB than IN his PRP$ defenders NNS . .
Ralph NNP Neas NNP was VBD the DT organizing NN genius NN , ,  whipping VBG a DT conglomerate NN of IN pressure NN groups NNS into IN an DT irresistible JJ attacking NN force NN . .
Harvard NNP 's POS Laurence NNP Tribe NNP was VBD the DT constitutional JJ heavy NN , ,  laying VBG out RP legal JJ strategies NNS  for IN the DT senators NNS and CC witnesses NNS to TO follow VB  . .
But CC it PRP was VBD Ted NNP Kennedy NNP who WP  scored VBD most RBS effectively RB with IN his PRP$ searing JJ portrayal NN of IN `` `` Robert NNP Bork NNP 's POS America NNP '' '' -- : the DT parade NN of IN imaginary JJ horribles NNS that WDT  would MD follow VB logically RB , , he PRP claimed VBD   , , from IN the DT positions NNS  Mr. NNP Bork NNP had VBD taken VBN  over IN the DT space NN of IN two CD decades NNS . .
Sen. NNP Kennedy NNP , ,  never RB mind VB his PRP$ dubious JJ credentials NNS for IN the DT moral JJ high JJ ground NN , , emoted VBD brilliantly RB . .
I PRP add VBP two CD others NNS . .
Republican NNP Sen. NNP Arlen NNP Specter NNP of IN Pennsylvania NNP engaged VBD the DT nominee NN in IN a DT verbal JJ contest NN aimed VBN  at IN  showing VBG that IN Mr. NNP Bork NNP was VBD willing JJ  to TO stretch VB the DT Constitution NNP in IN one CD area NN -LRB- -LRB- free JJ speech NN -RRB- -RRB- while IN  remaining VBG rigid JJ in IN all PDT the DT others NNS . .
It PRP achieved VBD a DT good JJ media NN play NN , , and CC enabled VBD Sen. NNP Specter NNP and CC others NNS to TO vote VB against IN Mr. NNP Bork NNP out IN of IN `` `` conscience NN . . '' ''
Further JJ ammunition NN came VBD from IN left JJ legal JJ theorist NN Ronald NNP Dworkin NNP , , who WP in IN the DT New NNP York NNP Review NNP of IN Books NNP  painted VBD a DT picture NN of IN a DT constitutional JJ zombie NN willfully RB reading VBG his PRP$ personal JJ prejudices NNS into IN the DT Constitution NNP , , particularly RB in IN the DT area NN of IN `` `` original JJ intent NN . . '' ''
The DT charge NN of IN  being VBG `` `` outside IN the DT mainstream NN '' '' of IN legal JJ thought NN gravely RB undercut VBD Mr. NNP Bork NNP 's POS scholarly JJ standing NN , ,  leaving VBG him PRP bleeding VBG on IN the DT platform NN . .
The DT nomination NN still RB might MD have VB been VBN salvaged VBN  if IN a DT number NN of IN Democratic JJ moderates NNS in IN the DT South NNP and CC Southwest NNP had VBD broken VBN party NN lines NNS . .
But CC Democratic NNP Sen. NNP Bennett NNP Johnson NNP of IN Louisiana NNP reminded VBD the DT little JJ band NN that IN anti-Bork JJ blacks NNS and CC women NNS could MD furnish VB the DT margin NN   to TO punish VB them PRP in IN their PRP$ next JJ Senate NNP elections NNS . .
Demographics NNS converged VBD with IN `` `` mainstream NN '' '' and CC demonizing NN  to TO seal VB Robert NNP Bork NNP 's POS fate NN . .
The DT upshot NN ? .
Mr. NNP Bork NNP 's POS opponents NNS chose VBD the DT battlefield NN , , held VBD it PRP and CC kept VBD it PRP . .
Yet CC with IN the DT smooth JJ confirmation NN of IN Anthony NNP Kennedy NNP , , an DT `` `` 80 CD percenter NN '' '' only RB slightly RB less RBR supportive JJ of IN judicial JJ restraint NN than IN Mr. NNP Bork NNP , , the DT Democrats NNPS may MD have VB won VBN the DT battle NN but CC lost VBN the DT war NN . .
Another DT upshot NN , , however RB , , was VBD the DT chilling JJ message NN  the DT Bork NNP hearings NNS sent VBD  into IN the DT judicial JJ culture NN from IN which WDT the DT Supreme NNP Court NNP draws VBZ its PRP$ talent NN  . .
The DT word NN  went VBD forth RB to TO every DT law NN school NN that IN those DT with IN federal JJ court NN ambitions NNS must MD travel VB a DT safe JJ constitutional JJ journey NN , , with IN no DT paper NN trail NN and CC no DT bite NN to TO their PRP$ tongue NN or CC pen NN . .
Unfortunately RB , , the DT author NN simply RB does VBZ n't RB supply VB the DT philosophical JJ frame NN   to TO sustain VB his PRP$ reportorial JJ talents NNS . .
He PRP has VBZ too RB readily RB swallowed VBN the DT case NN for IN the DT activist JJ law NN school NN culture NN . .
 Probing VBG more RBR deeply RB into IN the DT doctrine NN of IN `` `` judicial JJ restraint NN , , '' '' he PRP would MD have VB found VBN a DT long JJ history NN going VBG back RB to TO the DT great JJ decisions NNS of IN Justice NNP Holmes NNP . .
He PRP would MD discover VB it PRP also RB in IN Alexander NNP Bickel NNP , , a DT subtle JJ constitutional JJ scholar NN , , Mr. NNP Bork NNP 's POS closest JJS friend NN at IN Yale NNP , , whose WP$ influence NN on IN the DT judge NN  goes VBZ well RB beyond IN Mr. NNP Bronner NNP 's POS reporting NN . .
Still RB , , the DT long JJ view NN of IN Robert NNP Bork NNP as IN constitutional JJ thinker NN must MD be VB a DT spotty JJ one CD . .
His PRP$ strength NN lies VBZ in IN his PRP$ majoritarian JJ doctrine NN , , which WDT  keeps VBZ the DT Court NNP clear JJ of IN transient JJ group NN pressures NNS and CC leaves VBZ most JJS decisions NNS in IN a DT democracy NN to TO elected JJ legislatures NNS and CC executives NNS . .
Unfortunately RB , , Mr. NNP Bork NNP failed VBD  to TO distinguish VB between IN such JJ pressures NNS and CC the DT emergence NN of IN great JJ issues NNS critical JJ to TO a DT society NN that WDT  must MD be VB settled VBN  judicially RB if IN it PRP is VBZ  to TO cohere VB . .
The DT question NN of IN segregated JJ schools NNS , , in IN Brown NNP vs. IN Board NNP of IN Education NNP , , was VBD such PDT an DT issue NN . .
In IN our PRP$ time NN abortion NN has VBZ become VBN another DT , , best RBS left VBN  to TO a DT line NN of IN Supreme NNP Court NNP decisions NNS rather RB than IN to TO the DT chaos NN of IN 50 CD state NN legislatures NNS . .
A DT reflective JJ and CC growing JJ consensus NN of IN Americans NNPS clearly RB wishes VBZ  to TO apply VB the DT right NN to TO privacy NN in IN contraceptive JJ matters NNS -LRB- -LRB- decided VBN  in IN the DT Griswold NNP case NN -RRB- -RRB- to TO abortion NN as RB well RB . .
One PRP can MD understand VB Mr. NNP Bork NNP 's POS fear NN that IN the DT new JJ right NN to TO privacy NN will MD become VB intolerably RB stretched VBN  , , though IN a DT Supreme NNP Court NNP composed VBN  of IN men NNS and CC women NNS with IN realism NN , , guts NNS and CC a DT sense NN of IN limits NNS should MD be VB able JJ  to TO manage VB it PRP . .
What WP  is VBZ certain JJ is VBZ that IN if IN Americans NNPS allow VBP another DT happening NN like IN the DT degrading JJ Bork NNP confirmation NN circus NN , , it PRP will MD be VB at IN their PRP$ peril NN . .
Mr. NNP Lerner NNP is VBZ a DT writer NN and CC historian NN living VBG in IN New NNP York NNP . .
Sotheby NNP 's POS Inc. NNP , , the DT world NN 's POS biggest JJS auction NN house NN , , is VBZ taking VBG a DT huge JJ Wall NNP Street-style JJ risk NN on IN the DT outcome NN of IN the DT sale NN of IN art NN from IN the DT estate NN of IN John NNP T. NNP Dorrance NNP Jr. NNP , , the DT Campbell NNP Soup NNP Co. NNP heir NN . .
The DT Financial NNP Services NNP division NN has VBZ guaranteed VBN the DT Dorrance NNP family NN that IN it PRP will MD receive VB a DT minimum NN of IN $ $ 100 CD million CD  for IN the DT collection NN , , regardless RB of IN what WP the DT bids NNS for IN the DT art NN works NNS total VBP  , , people NNS close RB to TO the DT transaction NN say VBP   . .
The DT collection NN , , which WDT  includes VBZ two CD early JJ Picassos NNPS , , a DT van NNP Gogh NNP , , a DT Monet NNP , , other JJ paintings NNS , , furniture NN and CC porcelains NNS , , went VBD on IN sale NN last JJ night NN in IN the DT first JJ of IN six CD auctions NNS . .
What WP Sotheby NNP 's POS is VBZ doing VBG  closely RB resembles VBZ an DT underwriting NN by IN an DT investment NN bank NN . .
A DT corporation NN that WDT  wants VBZ  to TO sell VB stock NN or CC bonds NNS goes VBZ to TO a DT Wall NNP Street NNP firm NN , , which WDT  purchases VBZ the DT securities NNS outright RB , ,  accepting VBG the DT financial JJ risk NN of IN  finding VBG buyers NNS . .
If IN the DT investment NN bank NN can MD sell VB the DT securities NNS at IN a DT higher JJR price NN than IN it PRP paid VBD the DT issuer NN  , , it PRP makes VBZ a DT profit NN . .
At IN the DT initial JJ sale NN last JJ night NN , , for IN example NN -- : the DT sale NN featuring VBG the DT Impressionists NNPS masters NNS -- : bids NNS totaled VBD $ $ 116 CD million CD  . .
That DT was VBD slightly RB above IN Sotheby NNP 's POS presale JJ estimate NN of IN $ $ 111 CD million CD  . .
Normally NNP , , Sotheby NNP 's POS would MD have VB earned VBN 20 CD % NN of IN the DT total NN in IN commissions NNS . .
Instead RB , , people NNS familiar JJ with IN the DT transaction NN said VBD   , , the DT auction NN house NN opted VBD  to TO forgo VB that DT percentage NN in IN order NN  to TO obtain VB the DT collection NN and CC in IN exchange NN for IN  taking VBG a DT bigger JJR chunk NN of IN proceeds NNS exceeding VBG $ $ 100 CD million CD  . .
Art NN dealers NNS say VBP that IN while IN auction NN houses NNS occasionally RB guarantee VBP the DT seller NN of IN a DT highly RB desirable JJ work NN of IN art NN a DT minimum JJ price NN , , a DT financial JJ commitment NN of IN this DT size NN is VBZ unprecedented JJ . .
Diana NNP D. NNP Brooks NNP , , president NN of IN Sotheby NNP 's POS North NNP America NNP division NN , , vehemently RB denies VBZ  it PRP offered VBD the DT Dorrance NNP heirs NNS a DT money-back JJ guarantee NN , ,  calling VBG such JJ reports NNS `` `` inaccurate JJ . . '' ''
 Buried VBN  in IN the DT glossy JJ hardbound JJ catalog NN for IN the DT sale NN , , however RB , , appears VBZ the DT statement NN , , `` `` Sotheby NNP 's POS has VBZ an DT interest NN in IN the DT property NN in IN this DT catalog NN . . '' ''
Explains VBZ   a DT Sotheby NNP 's POS spokeswoman NN , , the DT statement NN `` `` means VBZ exactly RB what WP it PRP says VBZ  . .
We PRP have VBN some DT level NN of IN financial JJ interest NN '' '' in IN the DT collection NN . .
`` `` We PRP do VBP n't RB disclose VB specifics NNS . . '' ''
Frank NNP Mirabello NNP , , a DT lawyer NN for IN the DT Dorrance NNP estate NN with IN the DT Philadelphia NNP law NN firm NN of IN Morgan NNP , , Lewis NNP & CC Bockius NNP , , declines VBZ  to TO comment VB on IN the DT financial JJ arrangements NNS . .
Sotheby NNP 's VBZ made VBN the DT $ $ 100 CD million CD  guarantee NN  to TO keep VB the DT Dorrance NNP collection NN away RB from IN its PRP$ archrival JJ , , auction NN house NN Christie NNP 's POS International NNP PLC NNP ; : Christie NNP 's POS has VBZ handled VBN smaller JJR sales NNS for IN the DT Dorrance NNP family NN over IN the DT years NNS . .
When WRB Christie NNP 's POS officials NNS asked VBD why WRB the DT firm JJ was VBD n't RB picked VBN   to TO sell VB the DT Dorrance NNP collection NN   , , representatives NNS of IN the DT Dorrance NNP family NN `` `` told VBD us PRP  it PRP was VBD a DT question NN of IN financial JJ considerations NNS , , '' '' said VBD   Michael NNP Findlay NNP , , Christie NNP 's POS head NN of IN impressionist JJ and CC modern JJ paintings NNS . .
Collectors NNS who WP  have VBP made VBN their PRP$ money NN on IN Wall NNP Street NNP have VBP become VBN an DT increasingly RB important JJ part NN of IN the DT art NN business NN and CC their PRP$ money NN has VBZ helped VBN  fuel VB the DT art NN boom NN , , but CC recently RB it PRP appears VBZ  Sotheby NNP 's POS has VBZ been VBN returning VBG the DT compliment NN . .
In IN November NNP 1987 CD , , Sotheby NNP 's POS essentially RB offered VBD a DT Wall NNP Street-style JJ `` `` bridge NN loan NN '' '' of IN about RB $ $ 27 CD million CD  to TO Australian JJ businessman NN Alan NNP Bond NNP  to TO enable VB him PRP to TO purchase VB Vincent NNP van NNP Gogh NNP 's POS `` `` Irises NNS '' '' for IN $ $ 53.9 CD million CD  . .
It PRP was VBD the DT highest JJS bid NN in IN history NN for IN a DT work NN of IN art NN . .
But CC two CD weeks NNS ago RB , , Sotheby NNP 's VBZ said VBD that IN it PRP has VBZ the DT painting NN under IN lock NN and CC key NN because IN the DT loan NN had VBD not RB been VBN fully RB repaid VBN  . .
Sotheby NNP 's POS is VBZ offering VBG such JJ deals NNS because IN it PRP 's VBZ an DT art NN sellers NNS ' POS market NN , , at IN least JJS where WRB the DT best JJS works NNS are VBP concerned VBN   , , says VBZ   Ralph NNP Lerner NNP , , an DT attorney NN and CC author NN of IN the DT book NN `` `` Art NN Law NN . . '' ''
`` `` There EX seems VBZ  to TO be VB a DT lot NN of IN art NN for IN sale NN , , but CC there EX 's POS more JJR competition NN . .
The DT competition NN gives VBZ the DT seller NN the DT ability NN  to TO cut VB a DT better JJR deal NN , , '' '' he PRP says VBZ   . .
The DT Dorrance NNP family NN will MD still RB receive VB a DT substantial JJ portion NN of IN the DT auction NN proceeds NNS above IN $ $ 100 CD million CD  , , people NNS familiar JJ with IN the DT transaction NN said VBD   . .
But CC it PRP  's VBZ likely RB that DT Sotheby NNP 's POS will MD take VB a DT higher JJR than IN usual JJ commission NN , , called VBD  an DT override NN , , on IN the DT amount NN exceeding VBG the DT guarantee NN . .
Sotheby NNP 's POS has VBZ been VBN aggressively RB promoting VBG the DT Dorrance NNP sale NN . .
At IN a DT news NN conference NN last JJ May NNP announcing VBG plans NNS for IN the DT auction NN , , Sotheby NNP 's POS estimated VBD its PRP$ value NN in IN excess NN of IN $ $ 100 CD million CD  . .
More RBR recently RB , , Sotheby NNP 's POS has VBZ predicted VBN  the DT collection NN will MD fetch VB $ $ 140 CD million CD  . .
That DT 's VBZ the DT highest JJS estimate NN for IN a DT single JJ collection NN in IN auction NN history NN . .
The DT decision NN  to TO put VB the DT entire JJ collection NN on IN the DT block NN stunned VBD many JJ , , since IN Mr. NNP Dorrance NNP had VBD served VBN as IN chairman NN of IN the DT Philadelphia NNP Museum NNP of IN Art NNP , , and CC it PRP  had VBD been VBN assumed VBN   many JJ of IN the DT works NNS would MD be VB donated VBN  to TO the DT institution NN . .
At IN last JJ night NN 's POS sale NN , , 13 CD of IN 44 CD works NNS that WDT  sold VBD were VBD purchased VBN  by IN Aska NNP International NNP Gallery NNP , , the DT art-acquisition JJ unit NN of IN Aichi NNP Financial NNP , , a DT Japanese JJ conglomerate NN that WDT  owns VBZ 7.5 CD % NN of IN Christie NN 's POS . .
Meanwhile RB , , Sotheby NNP 's POS guarantee NN is VBZ raising VBG eyebrows NNS in IN the DT art NN world NN . .
`` `` The DT consumer NN has VBZ  to TO throw VB out RP the DT idea NN that IN the DT auction NN house NN is VBZ a DT disinterested JJ middleman NN , , '' '' says VBZ  New NNP York NNP art NN dealer NN David NNP Tunick NNP . .
While IN he PRP adds VBZ that IN he PRP has VBZ no DT problem NN with IN auction NN houses NNS who WP  sell VBP works NNS in IN which WDT they PRP have VBP a DT financial JJ interest NN  , , `` `` It PRP ought MD  not RB to TO be VB hidden VBN  in IN some DT small JJ print NN . . '' ''
In IN such JJ situations NNS , , he PRP says VBZ , , the DT house NN `` `` is VBZ going VBG  to TO put VB the DT best JJS light NN on IN things NNS . . '' ''
For IN example NN , , an DT auction NN house NN 's POS comments NNS on IN the DT condition NN of IN a DT work NN of IN art NN that WDT  is VBZ up RB for IN sale NN should MD be VB looked VBN at IN  with IN `` `` very RB open JJ eyes NNS , , '' '' he PRP says VBZ   . .
`` `` There EX 's VBZ more JJR and CC more JJR of IN this DT cash-up-front NN going VBG on RP at IN every DT level NN , , '' '' says VBZ  Bruce NNP Miller NNP , , president NN of IN Art NNP Funding NNP Corp. NNP , , an DT art NN lender NN . .
Dealers NNS and CC auction NN houses NNS `` `` know VBP  if IN they PRP do VBP n't RB lay VB out RP a DT half PDT a DT million CD for IN this DT , , another DT one NN will MD  ; : it PRP 's VBZ that RB competitive JJ . . '' ''
In IN January NNP , , two CD small JJ New NNP York NNP galleries NNS , , the DT Coe NNP Kerr NNP Gallery NNP and CC Beadleston NNP Fine NNP Arts NNP , , snatched VBD a DT major JJ art NN collection NN owned VBN  by IN the DT Askin NNP family NN away RB from IN rival JJ auction-house NN bidders NNS with IN an DT up-front JJ payment NN of IN about RB $ $ 25 CD million CD  . .
A DT Christie NNP 's POS spokeswoman NN said VBD that IN while IN the DT auction NN house NN sometimes RB waives VBZ its PRP$ seller NN 's POS commission NN  to TO attract VB art NN works NNS -- : it PRP still RB gets VBZ a DT commission NN from IN the DT buyer NN -- : Christie NNP 's POS wo MD n't RB offer VB financial JJ guarantees NNS because IN `` `` Christie NNP 's POS believes VBZ  its PRP$ primary JJ role NN is VBZ as IN an DT auction NN house NN , , and CC therefore RB as IN an DT agent NN -LCB- -LRB- for IN buyer NN and CC seller NN -RCB- -RRB- , , not RB as IN a DT bank NN . .
Egon NNP Krenz NNP , , the DT man NN tapped VBN  yesterday NN  to TO become VB East NNP Germany NNP 's POS new JJ leader NN , , faces VBZ the DT same JJ task NN that WDT  has VBZ fallen VBN to TO neighboring VBG socialist JJ colleagues NNS : :  reforming VBG a DT country NN in IN crisis NN . .
But CC unlike IN the DT other JJ new JJ leaders NNS in IN the DT East NNP Bloc NNP , , Mr. NNP Krenz NNP will MD face VB an DT immediate JJ threat NN to TO his PRP$ nation NN 's POS very JJ existence NN : : German JJ reunification NN . .
Mr. NNP Krenz NNP , , age NN 52 CD , , is VBZ known VBN  as IN an DT old-guard JJ ironfist NN , , one NN likely JJ  to TO continue VB the DT method NN of IN  running VBG a DT country NN that WDT the DT Berlin NNP Wall NNP made VBD  famous JJ . .
Even RB if IN he PRP were VBD  to TO change VB his PRP$ stripes NNS and CC become VB another DT Milton NNP Friedman NNP , , however RB , , he PRP would MD still RB stand VB a DT good JJ chance NN of IN  losing VBG a DT country NN . .
Mr. NNP Krenz NNP almost RB certainly RB will MD be VB a DT younger JJR version NN of IN Erich NNP Honecker NNP , , his PRP$ rigid JJ predecessor NN as IN dictator NN . .
Mr. NNP Krenz NNP has VBZ followed VBN much RB the DT same JJ career NN path NN as IN Mr. NNP Honecker NNP : : Both DT spent VBD years NNS  overseeing VBG the DT Freie NNP Deutsche NNP Jugend NNP , , the DT youth NN group NN that WDT  is VBZ the DT communist JJ regime NN 's POS principal JJ tool NN for IN  stamping VBG young JJ Germans NNPS into IN socialist JJ citizens NNS . .
More RBR recently RB , , Mr. NNP Krenz NNP has VBZ been VBN in IN charge NN of IN East JJ German JJ security NN , , and CC is VBZ the DT youngest JJS member NN of IN the DT ruling VBG Politburo NNP . .
 Faced VBN  with IN another DT Mr. NNP Honecker NNP , , so RB many JJ despairing JJ East NNP Germans NNPS  are VBP likely JJ  to TO flee VB that IN the DT two CD German JJ peoples NNS will MD get VB their PRP$ reunification NN , , de FW facto FW , , on IN West JJ German JJ ground NN . .
But CC if IN East NNP Germany NNP 's POS arthritic JJ Politburo NNP does VBZ loosen VB up RP enough RB  to TO permit VB Mr. NNP Krenz NNP to TO make VB serious JJ efforts NNS at IN reform NN , , he PRP will MD face VB a DT challenge NN just RB as IN fundamental JJ . .
 Abandoning VBG socialism NN means NNS  abandoning VBG the DT East JJ German JJ state NN 's POS reason NN for IN existence NN , , and CC with IN it PRP the DT justification NN for IN its PRP$ watchdogs NNS and CC its PRP$ Wall NNP . .
In IN this DT scenario NN it PRP  's VBZ hard JJ  to TO imagine VB that IN a DT pale JJ imitation NN of IN the DT Federal NNP Republic NNP could MD avoid VB  being VBG pulled VBD  into IN some DT kind NN of IN tie NN -- : economic JJ , , federal JJ or CC stronger JJR -- : with IN West NNP Germany NNP . .
Mr. NNP Krenz NNP may MD need VB a DT bit NN of IN time NN  to TO consolidate VB his PRP$ empire NN , , which WDT  would MD do VB a DT lot NN   to TO promote VB Reunification NNP Scenario NNP One CD . .
Cartoonists NNP in IN West NNP Germany NNP have VBP already RB mocked VBN the DT exodus NN by IN  imagining VBG an DT advertisement NN placed VBN  by IN Mr. NNP Honecker NNP : : `` `` Wanted VBN  : : one CD people NN . . '' ''
The DT West JJ German JJ embassies NNS in IN Prague NNP , , Budapest NNP and CC Warsaw NNP are VBP continuing VBG  to TO find VB refugees NNS at IN their PRP$ gates NNS . .
Of IN course NN East NNP Germany NNP , ,  true JJ to TO its PRP$ tradition NN , , could MD tighten VB its PRP$ borders NNS yet CC further RBR . .
Two CD of IN the DT last JJ gestures NNS of IN the DT Honecker NNP regime NN were VBD  to TO close VB the DT border NN to TO Czechoslovakia NNP and CC install VB halogen NN lights NNS in IN some DT spots NNS along IN the DT frontier NN . .
But CC with IN world-wide JJ opinion NN -- : even RB , , apparently RB in IN Moscow NNP -- : against IN East NNP Germany NNP , , the DT country NN would MD have VB  to TO turn VB itself PRP into IN an DT Albania NNP  to TO clamp VB down RP further RB on IN refugees NNS . .
There EX have VBP been VBN some DT reports NNS that IN Mr. NNP Krenz NNP is VBZ moving VBG  to TO `` `` soften VB '' '' his PRP$ reputation NN , , notably RB rumors VBZ that IN it PRP was VBD he PRP who WP  kept VBD East NNP Germany NNP 's POS state NN police NN off IN protesters NNS ' POS backs NNS at IN the DT country NN 's POS dismal JJ 40th JJ anniversary NN celebrations NNS earlier RBR this DT month NN . .
But CC even RB if IN he PRP effects VBZ a DT Hyde-to-Jekyll JJ transformation NN , , he PRP will MD face VB a DT serious JJ ideological JJ crisis NN and CC Reunification NNP Scenario NNP Two CD . .
The DT problem NN is VBZ one NN that IN East NNP Germany NNP shares NNS  with IN other JJ half-states NNS , , such JJ as IN North NNP Korea NNP , , but CC one NN  it PRP must MD shoulder VB  alone RB in IN the DT East NNP Bloc NNP . .
When WRB Poland NNP moves VBZ  to TO reform VB  , , it PRP can MD at IN least JJS lean VB on IN its PRP$ past NN : : However RB flawed JJ and CC short-lived JJ Joseph NNP Pilsudski NNP 's POS interwar JJ republic NN  , , it PRP was VBD a DT nonsocialist JJ democracy NN . .
Czech JJ reformers NNS can MD recall VB the DT Wilsonian JJ ideals NNS of IN the DT same JJ period NN in IN their PRP$ country NN . .
Even RB the DT Soviet NNP Union NNP has VBZ Peter NNP the DT Great NNP   to TO rediscover VB  , , should MD it PRP choose VB  to TO  . .
But CC East NNP Germany NNP is VBZ merely RB `` `` the DT land NN of IN truly RB existing VBG socialism NN . . '' ''
Beyond IN that DT , , it PRP has VBZ  to TO compete VB with IN West NNP Germany NNP for IN a DT claim NN to TO the DT German JJ identity NN . .
Up IN to TO now RB , , the DT main JJ weapon NN of IN the DT `` `` worker NN and CC peasant NN state NN '' '' has VBZ been VBN the DT ideology NN of IN socialism NN . .
With IN talk NN today NN of IN a DT second JJ economic JJ miracle NN in IN West NNP Germany NNP , , East NNP Germany NNP no RB longer RBR can MD content VB itself PRP with IN  being VBG the DT economic JJ star NN in IN a DT loser JJ league NN . .
Without IN Moscow NNP 's POS military NN and CC party NN behind IN it PRP , , East NNP Germany NNP runs VBZ the DT risk NN of IN disintegrating VBG . .
If IN it PRP goes VBZ capitalist JJ , , and CC increases VBZ trade NN with IN West NNP Germany NNP , , it PRP will MD convert VB itself PRP , , willy-nilly RB , , into IN an DT economic JJ annex NN of IN the DT Federal NNP Republic NNP . .
There EX 's VBZ a DT certain JJ cruel JJ logic NN at IN work NN here RB : : It PRP  's VBZ particularly RB appropriate JJ -- : and CC tragic JJ -- : that IN the DT land NN that WDT  produced VBD Karl NNP Marx NNP should MD prove VB socialism NN 's POS failure NN in IN an DT experiment NN that WDT  uses VBZ its PRP$ own JJ people NNS as IN controls NNS . .
There EX may MD be VB forces NNS that WDT  would MD delay VB this DT scenario NN . .
Ideologues NNS are VBP the DT last JJ   to TO surrender VB , , and CC Germans NNPS are VBP an DT ideological JJ people NNS . .
The DT protesters NNS who WP  greeted VBD Mikhail NNP Gorbachev NNP at IN East NNP Berlin NNP 's POS airport NN earlier RBR this DT month NN were VBD n't RB shouting VBG `` `` Go VB U.S.A NNP '' '' -- : they PRP were VBD chanting VBG `` `` Gorby NNP , ,  Help VB Us PRP . . '' ''
Ideologues NNS on IN the DT other JJ side NN of IN the DT border NN can MD also RB slow VB the DT process NN . .
Helmut NNP Kohl NNP 's VBZ governing VBG conservative JJ coalition NN is VBZ proving VBG admirably RB true JJ to TO the DT West JJ German JJ constitution NN by IN  making VBG more JJR than IN 500,000 CD people NNS of IN German JJ descent NN automatic JJ citizens NNS this DT year NN alone RB . .
But CC within IN the DT government NN and CC in IN the DT think VB tanks NNS outside IN it PRP , , many JJ West NNP Germans NNPS maintain VBP that IN they PRP do VBP n't RB want VB immediate JJ reunification NN . .
Politically RB , , this DT currently RB is VBZ wisdom NN -- : particularly RB given VBN a DT nervous JJ neighboring JJ France NNP . .
But CC it PRP would MD be VB ironic JJ if IN Germany NNP 's POS reunification NN , , just RB like IN its PRP$ division NN , , eventually RB were VBD the DT result NN of IN actions NNS in IN centers NNS of IN power NN other JJ than IN Bonn NNP and CC Berlin NNP . .
In IN a DT statement NN that WDT  was VBD as RB close JJ  as IN East NNP Germany NNP gets VBZ  to TO  practicing VBG `` `` glasnost NN '' '' , , Otto NNP Reinhold NNP , , an DT East JJ German JJ party NN theorist NN , , actually RB acknowledged VBD the DT reunification NN dilemma NN . .
`` `` The DT main JJ problem NN , , '' '' Mr. NNP Reinhold NNP said VBD   in IN an DT East JJ German JJ radio NN interview NN monitored VBN  by IN Radio NNP Free NNP Europe NNP in IN Munich NNP , , stems VBZ from IN the DT fact NN that IN `` `` the DT GDR NNP is VBZ different JJ '' '' from IN other JJ East JJ European JJ states NNS . .
`` `` What WDT kind NN of IN right NN  to TO exist VB , , '' '' he PRP asked VBD  , , `` `` would MD a DT capitalist JJ German NNP Democratic NNP Republic NNP have VBP  alongside IN a DT capitalist JJ Federal NNP Republic NNP ? . '' ''
That DT 's VBZ a DT question NN  East NNP Germany NNP ca MD n't RB answer VB  easily RB , , no DT matter NN what WP its PRP$ new JJ leader NN does VBZ  . .
Miss NNP Shlaes NNP is VBZ editorial JJ features NNS editor NN of IN The DT Wall NNP Street NNP Journal\/Europe NNP . .
INSURERS NNS ARE VBP FACING VBG billions NNS of IN dollars NNS in IN damage NN claims NNS from IN the DT California NNP quake NN . .
But CC most JJS businesses NNS in IN the DT Bay NNP area NN , , including VBG Silicon NNP Valley NNP , , were VBD n't RB greatly RB affected VBN  . .
Computer NN and CC software NN companies NNS in IN the DT region NN are VBP expecting VBG virtually RB no DT long-term JJ disruption NN in IN shipments NNS . .
Also RB , , investors NNS quickly RB singled VBD out RP stocks NNS of IN companies NNS expected VBN  to TO profit VB or CC suffer VB from IN the DT disaster NN . .
Leveraged JJ buy-outs NNS may MD be VB curbed VBN  by IN two CD rules NNS in IN pending VBG congressional JJ legislation NN . .
The DT provisions NNS , , in IN deficit-reduction JJ bills NNS recently RB passed VBN  by IN the DT House NNP and CC Senate NNP , , could MD raise VB the DT price NN tags NNS of IN such JJ deals NNS by IN up IN to TO 10 CD % NN and CC cool VB the DT takeover NN boom NN . .
A DT bill NN giving VBG the DT Transportation NNP Department NNP the DT power NN  to TO block VB airline NN leveraged JJ buy-outs NNS cleared VBD a DT House NN panel NN . .
But CC Secretary NNP Skinner NNP said VBD  he PRP would MD urge VB Bush NNP  to TO veto VB the DT bill NN . .
Housing NN starts NNS sank VBD 5.2 CD % NN in IN September NNP to TO a DT seven-year JJ low JJ . .
The DT drop NN , , following VBG a DT 6.2 CD % NN decline NN in IN August NNP , , indicates VBZ  the DT industry NN is VBZ still RB being VBG hurt VBN  by IN the DT Fed NNP 's POS anti-inflation JJ battle NN . .
IBM NNP plans VBZ  to TO buy VB back RP $ $ 1 CD billion CD  of IN its PRP$ common JJ shares NNS , , a DT move NN likely RB  to TO help VB the DT computer NN giant NN 's POS battered JJ stock NN . .
The DT buy-back NN , , which WDT  was VBD n't RB a DT complete JJ surprise NN , , was VBD announced VBN  after IN the DT stock NN market NN had VBD closed VBN . .
A DT capital-gains NNS tax NN cut NN plan NN has VBZ been VBN worked VBN  out RP by IN Senate NNP Republicans NNPS . .
A DT similar JJ proposal NN may MD be VB introduced VBN  soon RB by IN Senate NNP Democrats NNPS . .
British NNP Airways NNP said VBD  it PRP is VBZ seeking VBG improved JJ terms NNS and CC a DT sharply RB lower JJR price NN in IN any DT revised VBN bid NN for IN United NNP Air NNP 's POS parent NN . .
The DT British JJ carrier NN also RB confirmed VBD  it PRP is VBZ n't RB committed VBN to TO  going VBG forward RB with IN any DT new JJ bid NN . .
UAL NNP 's POS stock NN fell VBD $ $ 6.25 CD  , , to TO $ $ 191.75 CD  . .
Stock NN prices NNS rose VBD slightly RB as IN trading NN slowed VBD , , while IN bonds NNS ended VBD  little RB changed VBN despite IN a DT slumping VBG dollar NN . .
The DT Dow NNP Jones NNP industrials NNS gained VBD 4.92 CD , , to TO 2643.65 CD . .
But CC investors NNS remain VBP wary JJ about IN stocks NNS , , partly RB because IN of IN turmoil NN in IN the DT junk-bond NN market NN . .
B.A.T NNP Industries NNP may MD delay VB part NN of IN its PRP$ defensive JJ restructuring NN plan NN , , including VBG the DT sale NN of IN its PRP$ Saks NNP Fifth NNP Avenue NNP and CC Marshall NNP Field NNP units NNS . .
The DT British JJ conglomerate NN cited VBD the DT recent JJ turmoil NN in IN financial JJ markets NNS . .
WCRS NNP Group NNP announced VBD a DT major JJ restructuring NN that WDT  largely RB removes VBZ it PRP from IN the DT advertising NN business NN . .
The DT London-based JJ concern NN will MD sell VB most JJS of IN its PRP$ ad NN unit NN to TO France NNP 's POS Eurocom NNP . .
Commodore NNP International NNP expects VBZ  to TO post VB its PRP$ second JJ consecutive JJ quarterly JJ loss NN because IN of IN weak JJ personal JJ computer NN sales NNS in IN some DT markets NNS . .
Jaguar NNP hopes VBZ  to TO reach VB a DT friendly JJ accord NN with IN General NNP Motors NNP  within IN a DT month NN that WDT  may MD involve VB  producing VBG a DT cheaper JJR executive JJ model NN . .
Sears NNP is VBZ negotiating VBG  to TO refinance VB its PRP$ Sears NNP Tower NNP for IN close RB to TO $ $ 850 CD million CD  , , sources NNS said VBD   . .
The DT retailer NN was VBD unable JJ  to TO find VB a DT buyer NN for IN the DT building NN . .
Whitbread NNP of IN Britain NNP put VBD its PRP$ spirits NNS division NN up RB for IN sale NN , ,  setting VBG off RP a DT scramble NN among IN distillers NNS . .
The DT business NN includes VBZ Beefeater NNP gin NN . .
Markets NNS -- :
Stocks NNS : : Volume NN 166,900,000 CD shares NNS . .
Dow NNP Jones NNP industrials VBZ 2643.65 CD , , up RB 4.92 CD ; : transportation NN 1247.87 CD , , off RB 6.40 CD ; : utilities NNS 213.97 CD , , off RB 0.57 CD . .
Bonds NNS : : Shearson NNP Lehman NNP Hutton NNP Treasury NNP index NN 3371.36 CD , , off RB
Commodities NNS : : Dow NNP Jones NNP futures NNS index NN 129.90 CD , , up RB 0.18 CD ; : spot NN index NN 130.36 CD , , up RB 0.39 CD . .
Dollar NN : : 141.45 CD yen NN , , off RB 1.30 CD ; : 1.8485 CD marks NNS , , off RB 0.0182 CD . .
The DT dollar NN finished VBD softer JJR yesterday NN , ,  tilted VBN  lower RBR by IN continued JJ concern NN about IN the DT stock NN market NN . .
`` `` We PRP 're VBP trading VBG with IN a DT very RB wary JJ eye NN on IN Wall NNP Street NNP , , '' '' said VBD  Trevor NNP Woodland NNP , , chief JJ corporate JJ trader NN at IN Harris NNP Trust NNP & CC Savings NNP Bank NNP in IN New NNP York NNP . .
`` `` No DT one NN is VBZ willing JJ  to TO place VB a DT firm JJ bet NN that IN the DT stock NN market NN wo MD n't RB take VB another DT tumultuous JJ ride NN . . '' ''
News NN of IN the DT major JJ earthquake NN in IN California NNP Tuesday NNP triggered VBD a DT round NN of IN dollar NN sales NNS in IN early JJ Asian JJ trade NN , , but CC most RBS foreign-exchange NN dealers NNS said VBD  they PRP expect VBP the DT impact NN of IN the DT quake NN on IN financial JJ markets NNS to TO be VB short-lived JJ . .
Despite IN the DT dollar NN 's POS lackluster JJ performance NN , , some DT foreign-exchange NN traders NNS maintain VBP that IN the DT U.S. NNP unit NN remains VBZ relatively RB well RB bid VBN . .
Harris NNP Trust NNP 's POS Mr. NNP Woodland NNP noted VBD that IN the DT unit NN continues VBZ  to TO show VB resilience NN in IN the DT face NN of IN a DT barrage NN of IN `` `` headline NN negatives NNS '' '' in IN recent JJ weeks NNS , , including VBG rate NN increases NNS in IN Europe NNP and CC Japan NNP , , aggressive JJ central JJ bank NN intervention NN , , a DT 190-point JJ plunge NN in IN New NNP York NNP stock NN prices NNS , , an DT unexpectedly RB poor JJ U.S. NNP trade NN report NN and CC action NN  by IN the DT Federal NNP Reserve NNP  to TO nudge VB U.S. NNP rates NNS lower RBR . .
While IN Mr. NNP Woodland NNP does VBZ n't RB predict VB a DT significant JJ climb NN for IN the DT U.S. NNP unit NN in IN light NN of IN recent JJ moves NNS in IN interest NN rates NNS around IN the DT world NN , , he PRP noted VBD that IN `` `` its PRP$ downside JJ potential NN is VBZ surprisingly RB and CC -- : for IN dollar NN bulls NNS -- : `` `` impressively RB '' '' limited JJ . .
In IN late JJ New NNP York NNP trading NN yesterday NN , , the DT dollar NN was VBD quoted VBN  at IN 1.8485 CD marks NNS , , down RB from IN 1.8667 CD marks NNS late RB Tuesday NNP , , and CC at IN 141.45 CD yen NN , , down RB from IN 142.75 CD yen NN late RB Tuesday NNP . .
Sterling NN was VBD quoted VBN  at IN $ $ 1.5920 CD  , , up RB from IN $ $ 1.5753 CD  late RB Tuesday NNP . .
In IN Tokyo NNP Thursday NNP , , the DT U.S. NNP currency NN opened VBD for IN trading VBG at IN 140.97 CD yen NN , , down RB from IN Wednesday NNP 's POS Tokyo NNP close NN of IN 142.10 CD yen NN . .
Since IN Friday NNP 's POS dive NN in IN stock NN market NN prices NNS , , the DT Fed NNP has VBZ injected VBN reserves NNS into IN the DT banking NN system NN in IN an DT effort NN  to TO calm VB the DT markets NNS and CC avert VB a DT repeat NN of IN 1987 CD 's POS stock NN market NN debacle NN . .
Some DT analysts NNS note VBP that IN after IN last JJ week NN 's POS stock NN market NN tailspin NN and CC Tuesday NNP 's POS California NNP earthquake NN , , it PRP  's VBZ hard JJ  to TO gauge VB where WRB the DT central JJ bank NN wants VBZ the DT key JJ federal JJ funds NNS rate NN  . .
They PRP say VBP that IN the DT earthquake NN , , by IN  preventing VBG many JJ banks NNS from IN  operating VBG at IN full JJ capacity NN , , has VBZ given VBN the DT Fed NNP an DT additional JJ reason NN   to TO keep VB liquidity NN at IN a DT high JJ level NN  . .
The DT Fed NNP did VBD , , in IN fact NN , , execute VB $ $ 1.5 CD billion CD  of IN liquidity-enhancing JJ customer NN repurchase NN agreements NNS , , the DT third JJ set NN of IN repurchase NN orders NNS in IN three CD days NNS . .
Analysts NNS said VBD  the DT additional JJ liquidity NN should MD tend VB  to TO reduce VB the DT federal JJ funds NNS rate NN . .
For IN now RB , , traders NNS say VBP  the DT foreign JJ exchange NN market NN is VBZ scrutinizing VBG both DT federal JJ funds NNS and CC events NNS on IN Wall NNP Street NNP . .
They PRP note VBP that IN the DT dollar NN remains VBZ extremely RB vulnerable JJ to TO the DT slightest JJS bad JJ news NN from IN the DT stock NN exchange NN . .
Indeed RB , , the DT U.S. NNP unit NN edged VBD lower RBR as IN the DT Dow NNP Jones NNP Industrial NNP Average NNP dropped VBD about RB 13 CD points NNS in IN early JJ trading NN . .
A DT slight JJ recovery NN in IN the DT stock NN market NN gave VBD currency NN traders NNS confidence NN   to TO push VB the DT dollar NN higher RBR before IN the DT unit NN dropped VBD back RB by IN day NN 's POS end NN  . .
Some DT dealers NNS noted VBD that DT nervousness NN over IN the DT recent JJ sharp JJ dive NN in IN stock NN prices NNS could MD intensify VB following VBG suggestions NNS by IN Bank NNP of IN Japan NNP Governor NNP Satoshi NNP Sumita NNP that WDT  appeared VBD  to TO advise VB Japanese JJ investors NNS  to TO be VB very RB careful JJ in IN  investing VBG in IN U.S. NNP leveraged JJ buy-outs NNS . .
Dealers NNS suggest VBP that IN the DT only JJ positive JJ news NN on IN the DT horizon NN that WDT  could MD detract VB attention NN from IN equities NNS transactions NNS is VBZ September NNP 's POS U.S. NNP consumer NN price NN data NNS . .
The DT figures NNS , , due JJ for IN release NN Friday NNP , , are VBP expected VBN  to TO show VB an DT uptick NN in IN inflation NN to TO 4.8 CD % NN from IN 4.7 CD % NN in IN August NNP . .
If IN the DT figures NNS show VBP a DT hefty JJ rise NN in IN inflation NN , , they PRP could MD militate VB against IN easing NN by IN the DT Fed NNP . .
On IN the DT Commodity NNP Exchange NNP in IN New NNP York NNP , , gold NN for IN current JJ delivery NN rose VBD $ $ 1.30 CD  to TO $ $ 368.70 CD  an DT ounce NN in IN moderate JJ trading NN . .
Estimated JJ volume NN was VBD three CD million CD ounces NNS . .
In IN early JJ trading NN in IN Hong NNP Kong NNP Thursday NNP , , gold NN was VBD at IN $ $ 368.15 CD  an DT ounce NN . .
Crude NN prices NNS spurted VBD upward RB in IN brisk JJ trading NN on IN the DT assumption NN that IN heavy JJ earthquake NN damage NN occurred VBD to TO San NNP Francisco NNP area NN refinery NN complexes NNS , , but CC the DT rise NN quickly RB fizzled VBD when WRB it PRP  became VBD apparent JJ that IN oil NN operations NNS were VBD n't RB severely RB curtailed VBN   . .
 Trading VBG on IN little JJ specific JJ information NN , , market NN players NNS overnight RB in IN Tokyo NNP began VBD  bidding VBG up RB oil NN prices NNS . .
The DT rally NN spread VBD into IN European JJ markets NNS , , where WRB traders NNS were VBD still RB betting VBG that IN the DT earthquake NN disrupted VBD the DT San NNP Francisco NNP area NN 's POS large JJ oil NN refining NN plants NNS  . .
By IN yesterday NN morning NN , , much JJ of IN the DT world NN was VBD still RB unable JJ  to TO reach VB San NNP Francisco NNP by IN telephone NN . .
West NNP Texas NNP Intermediate NNP was VBD bid VBN up RP more JJR than IN 20 CD cents NNS a DT barrel NN in IN many JJ overseas JJ markets NNS . .
At IN the DT opening NN of IN the DT New NNP York NNP Mercantile NNP Exchange NNP , , West NNP Texas NNP Intermediate NNP for IN November NNP delivery NN shot VBD up RB 10 CD cents NNS a DT barrel NN , , to TO $ $ 20.85 CD  , , still RB on IN the DT belief NN that IN the DT refineries NNS were VBD damaged VBN  . .
In IN the DT San NNP Francisco NNP area NN , , roughly RB 800,000 CD barrels NNS a DT day NN of IN crude NN , , about RB a DT third NN of IN all PDT the DT refining NN capacity NN in IN California NNP , , is VBZ processed VBN  daily RB , , according VBG to TO industry NN data NNS . .
For IN more RBR than IN the DT past NN year NN , , even RB the DT rumor NN of IN a DT major JJ West NNP Coast NNP refinery NN shutdown NN has VBZ been VBN enough NN  to TO spark VB a DT futures NNS rally NN because IN the DT gasoline NN market NN is VBZ so RB tight JJ . .
But CC yesterday NN , , as IN the DT morning NN wore VBD on RB , , some DT major JJ West NNP Coast NNP refinery NN operators NNS -- : including VBG Chevron NNP Corp. NNP , , Exxon NNP Corp. NNP and CC the DT Shell NNP Oil NNP Co. NNP unit NN of IN Royal NNP Dutch\/Shell NNP Group NNP -- : said VBD  their PRP$ refineries NNS were VBD n't RB damaged VBN  and CC were VBD continuing VBG  to TO operate VB normally RB . .
Most RBS said VBD  they PRP shut VBD down RP their PRP$ petroleum NN pipeline NN operations NNS as IN a DT precaution NN but CC did VBD n't RB see VB any DT immediate JJ damage NN . .
Gasoline NN terminals NNS were VBD also RB largely RB unhurt JJ , , they PRP said VBD   . .
`` `` It PRP  's VBZ hard JJ  to TO imagine VB how WRB the DT markets NNS were VBD speculating VBG  , , given VBN that IN nobody NN could MD get VB through IN to TO San NNP Francisco NNP , , '' '' said VBD  one CD amazed JJ oil NN company NN executive NN . .
As IN the DT news NN  spread VBD that IN the DT refineries NNS were VBD intact JJ , , crude JJ prices NNS plunged VBD , ,  ending VBG the DT day NN at IN $ $ 20.56 CD  a DT barrel NN , , down RB 19 CD cents NNS . .
Gasoline NN for IN November NNP delivery NN was VBD off RB 1.26 CD cents NNS a DT gallon NN to TO 54.58 CD cents NNS . .
Heating NN oil NN finished VBD at IN 60.6 CD cents NNS , , down RB 0.45 CD cent NN . .
`` `` The DT market NN was VBD basically RB acting VBG on IN two CD contradictory JJ forces NNS , , '' '' said VBD  Nauman NNP Barakat NNP of IN Shearson NNP Lehman NNP Hutton NNP Inc NNP . .
`` `` One CD is VBZ the DT panic NN , , the DT earthquake NN in IN San NNP Francisco NNP , , which WDT  is VBZ positive JJ . . '' ''
But CC once RB that DT factor NN was VBD eliminated VBN  , , traders NNS took VBD profits NNS and CC focused VBD on IN crude JJ oil NN inventories NNS , , Mr. NNP Barakat NNP said VBD   . .
After IN the DT market NN closed VBD Tuesday NNP , , the DT American NNP Petroleum NNP Institute NNP had VBD reported VBN that IN crude JJ stocks NNS increased VBD by IN 5.7 CD million CD barrels NNS in IN the DT week NN ended VBD Friday NNP , , which WDT traders NNS viewed VBD  as IN bearish JJ . .
But CC some DT market NN players NNS still RB think VBP  earthquake NN speculation NN could MD have VB more JJR impact NN on IN the DT oil NN markets NNS . .
`` `` The DT problem NN is VBZ that IN while IN on IN the DT surface NN everything NN is VBZ all RB right JJ , , the DT question NN is VBZ , , '' '' said VBD  Mr. NNP Barakat NNP , , `` `` was VBD there EX any DT structural JJ damage NN to TO the DT pipelines NNS or CC anything NN else RB . . '' ''
In IN other JJ commodity NN markets NNS yesterday NN : :
COPPER NN : :
Futures NNS prices NNS eased VBD on IN indications NNS of IN improvement NN in IN the DT industry NN 's POS labor NN situation NN . .
The DT December NNP contract NN declined VBD 1.85 CD cents NNS a DT pound NN to TO $ $ 1.2645 CD  . .
According VBG to TO one CD analyst NN , , workers NNS at IN the DT Cananea NNP copper NN mine NN in IN Mexico NNP , , which WDT  has VBZ n't RB been VBN operating VBG since IN it PRP was VBD declared VBN  bankrupt JJ by IN the DT Mexican JJ government NN in IN late JJ August NNP , , are VBP set VBN  to TO return VB to TO work VB . .
The DT analyst NN said VBD  it PRP will MD take VB about RB two CD to TO three CD months NNS before IN the DT mine NN begins VBZ  to TO produce VB copper NN in IN significant JJ quantities NNS . .
He PRP added VBD that IN , , while IN there EX has VBZ n't RB been VBN any DT official JJ announcement NN as IN yet RB , , the DT Highland NNP Valley NNP mine JJ strike NN in IN British NNP Columbia NNP , , which WDT  has VBZ lasted VBN more RBR than IN three CD months NNS , , is VBZ regarded VBN  as IN  settled VBN  . .
Another DT analyst NN said VBD  the DT Cananea NNP return NN to TO operation NN may MD not RB be VB as RB near RB as IN some DT expect VBP   . .
`` `` There EX are VBP still RB negotiations NNS taking VBG place NN on IN whether IN there EX will MD be VB a DT loss NN of IN jobs NNS , , which WDT  has VBZ been VBN a DT critical JJ issue NN all RB along RB , , '' '' he PRP said VBD  . .
Nevertheless RB , , the DT increasing JJ likelihood NN that IN these DT two CD major JJ supply NN disruptions NNS will MD be VB resolved VBN  weighed VBD on IN the DT market NN , , the DT analysts NNS agreed VBD   . .
Both DT of IN these DT mines NNS are VBP normally RB major JJ suppliers NNS of IN copper NN to TO Japan NNP , , which WDT  has VBZ been VBN buying VBG copper NN on IN the DT world NN market NN . .
The DT first JJ analyst NN said VBD that IN the DT Japanese NNPS , , as RB well RB as IN the DT Chinese NNPS , , bought VBD copper NN earlier RBR in IN the DT week NN in IN London NNP , , but CC that IN this DT purchasing NN has VBZ since IN slackened VBN as IN the DT supply NN situation NN , , at IN least JJS over IN the DT long JJ term NN , , appears VBZ  to TO have VB improved VBN . .
`` `` The DT focus NN for IN some DT time NN has VBZ been VBN on IN the DT copper NN supply NN , , and CC good JJ demand NN has VBZ been VBN taken VBN  for IN  granted JJ  , , '' '' he PRP said VBD  . .
`` `` Now RB that IN the DT supply NN situation NN seems VBZ  to TO be VB improving VBG , , it PRP  would MD be VB best JJS for IN traders NNS to TO switch VB their PRP$ concentration NN to TO the DT demand NN side NN . . '' ''
He PRP noted VBD the DT Commerce NNP Department NNP report NN  yesterday NN that DT housing NN starts NNS in IN September NNP dropped VBD 5.2 CD % NN from IN August NNP to TO 1.26 CD million CD units NNS on IN an DT annualized JJ basis NN , , the DT lowest JJS level NN in IN seven CD years NNS . .
`` `` Along RB with IN these DT factors NNS , , other JJ economic JJ reports NNS suggest VBP a DT slowing NN of IN the DT economy NN , , which WDT  could MD mean VB reduced JJ copper NN usage NN , , '' '' he PRP said VBD  . .
SUGAR NN : :
Futures NNS prices NNS extended VBD Tuesday NNP 's POS gains NNS . .
The DT March NNP delivery NN ended VBD with IN an DT advance NN of IN 0.16 CD cent NN a DT pound NN to TO 14.27 CD cents NNS , , for IN a DT two-day JJ gain NN of IN 0.3 CD cent NN . .
According VBG to TO one CD dealer NN , , Japan NNP said VBD  it PRP has VBZ only RB 40,000 CD tons NNS of IN sugar NN remaining VBG  to TO be VB shipped VBN  to TO it PRP this DT year NN by IN Cuba NNP under IN current JJ commitments NNS . .
The DT announcement NN was VBD made VBN  because IN of IN reports NNS  Tuesday NNP that IN Cuba NNP would MD delay VB shipments NNS to TO Japan NNP scheduled VBN  for IN later RB this DT year NN , , into IN early RB next JJ year NN . .
The DT dealer NN said VBD  the DT quantity NN mentioned VBN  in IN the DT Japanese JJ announcement NN is VBZ so RB small JJ that IN it PRP 's VBZ meaningless JJ . .
One CD analyst NN said VBD  he PRP thought VBD  the DT market NN continued VBD  to TO be VB supported VBN  to TO some DT degree NN by IN a DT delay NN in IN the DT Cuban JJ sugar NN harvest NN caused VBN  by IN adverse JJ weather NN . .
The DT dealer NN said VBD  India NNP might MD be VB the DT real JJ factor NN that WDT  is VBZ keeping VBG futures NNS prices NNS firm JJ . .
That DT country NN recently RB bought VBD 200,000 CD tons NNS of IN sugar NN and CC had VBD been VBN expected VBN  to TO seek VB a DT like JJ quantity NN last JJ week NN but CC did VBD n't RB  . .
`` `` It PRP  's VBZ known VBN   they PRP need VBP the DT sugar NN , , and CC the DT expectation NN that IN they PRP will MD come VB in RB is VBZ apparently RB giving VBG the DT market NN its PRP$ principal JJ support NN , , '' '' the DT dealer NN said VBD  . .
LIVESTOCK NN AND CC MEATS NNS : :
The DT Agriculture NNP Department NNP is VBZ expected VBN  to TO announce VB tomorrow NN that IN the DT number NN of IN cattle NNS in IN the DT 13 CD major JJ ranch NN states NNS slipped VBD 4 CD % NN to TO 8.21 CD million CD on IN Oct. NNP 1 CD compared VBN with IN the DT level NN a DT year NN earlier RBR , , said VBD   Tom NNP Morgan NNP , , president NN of IN Sterling NNP Research NNP Corp. NNP , , Arlington NNP Heights NNP , , Ill NNP . .
Cattle NNS prices NNS have VBP risen VBN in IN recent JJ weeks NNS on IN speculation NN that IN the DT government NN 's POS quarterly JJ report NN will MD signal VB tighter JJR supplies NNS of IN beef NN . .
Among IN other JJ things NNS , , the DT government NN is VBZ expected VBN  to TO report VB that IN the DT number NN of IN young JJ cattle NNS placed VBN  on IN feedlots NNS during IN the DT quarter NN slipped VBD 3 CD % NN . .
Feedlots NNS fatten VBP cattle NNS for IN slaughter NN , , so IN a DT drop NN indicates VBZ that IN the DT production NN of IN beef NN will MD dip VB this DT winter NN . .
Indeed RB , , some DT analysts NNS expect VBP the DT government NN to TO report VB that IN the DT movement NN of IN young JJ cattle NNS onto IN feedlots NNS in IN the DT month NN of IN September NNP in IN seven CD big JJ ranch NN states NNS dropped VBD 8 CD % NN compared VBN with IN the DT level NN for IN September NNP 1988 CD . .
The DT following JJ issues NNS were VBD recently RB filed VBN  with IN the DT Securities NNP and CC Exchange NNP Commission NNP : :
Health NNP Care NNP Property NNP Investors NNP Inc. NNP , , offering VBG of IN 2,250,000 CD shares NNS of IN common JJ stock NN , , via IN Merrill NNP Lynch NNP Capital NNP Markets NNP , , Alex NNP . . Brown NNP & CC Sons NNP Inc. NNP and CC Dean NNP Witter NNP Reynolds NNP Inc NNP . .
Union NNP Pacific NNP Corp. NNP , , shelf NN offering NN of IN up IN to TO $ $ 500 CD million CD  debt NN securities NNS and CC warrants NNS . .
United NNP Technologies NNP Corp. NNP , , shelf NN offering NN of IN up IN to TO $ $ 500 CD million CD  unsubordinated JJ non-convertible JJ unsecured JJ debt NN securities NNS . .
A DT new JJ drug NN   to TO prevent VB the DT rejection NN of IN transplanted JJ organs NNS has VBZ been VBN successfully RB used VBN  on IN more JJR than IN 100 CD patients NNS at IN the DT University NNP of IN Pittsburgh NNP , , according VBG to TO researchers NNS . .
The DT drug NN , , which WDT  is VBZ still RB in IN the DT experimental JJ phase NN , , has VBZ n't RB been VBN approved VBN  yet RB by IN the DT Food NNP and CC Drug NNP Admistration NNP , , and CC its PRP$ long-term JJ effects NNS are VBP unknown JJ . .
But CC researchers NNS say VBP  the DT drug NN , , called VBN  FK-506 NNP , , could MD revolutionize VB the DT transplantation NN field NN by IN  reducing VBG harmful JJ side JJ effects NNS and CC by IN  lowering VBG rejection NN rates NNS . .
Rejection NN has VBZ been VBN the DT major JJ obstacle NN in IN the DT approximately RB 30,000 CD organ NN transplants NNS performed VBN  world-wide RB each DT year NN . .
Researchers NNS began VBD  using VBG the DT drug NN  in IN February NNP on IN patients NNS who WP  had VBD received VBN kidney NN , , liver NN , , heart NN and CC pancreas NN transplants NNS . .
Only RB two CD of IN 111 CD transplants NNS have VBP been VBN rejected VBN  . .
The DT drug NN , , discovered VBN  in IN 1984 CD , , is VBZ metabolized VBN  from IN soil NN fungus NN found VBN  in IN Japan NNP . .
The DT Pittsburgh NNP patients NNS are VBP the DT first JJ humans NNS   to TO be VB given VBN  the DT drug NN , , which WDT  is VBZ made VBN  by IN Fujisawa NNP Pharmaceutical NNP Co NNP . .
`` `` We PRP 're VBP shocked JJ by IN it PRP , , because IN it PRP 's VBZ worked VBN so RB fast RB , , '' '' said VBD  Dr. NNP Thomas NNP E. NNP Starzl NNP , , director NN of IN the DT University NNP of IN Pittsburgh NNP Transplantation NNP Program NNP , , at IN a DT news NN conference NN here RB yesterday NN . .
`` `` We PRP consider VBP it PRP a DT life-saving JJ drug NN , , like IN one CD for IN AIDS NNP , , '' '' said VBD  Dr. NNP John NNP Fung NNP , , an DT immunologist NN at IN the DT University NNP of IN Pittsburgh NNP . .
Researchers NNS say VBP  they PRP believe VBP  FK-506 NNP is VBZ 100 CD times NNS more RBR effective JJ than IN the DT traditional JJ anti-rejection JJ drug NN , , cyclosporine NN , , made VBN  by IN Swiss JJ pharmaceutical JJ giant NN Sandoz NNP Ltd NNP . .
They PRP are VBP also RB encouraged VBN  by IN the DT relatively RB mild JJ side JJ effects NNS of IN FK-506 NNP , , compared VBN with IN cyclosporine NN , , which WDT  can MD cause VB renal JJ failure NN , , morbidity NN , , nausea NN and CC other JJ problems NNS . .
`` `` The DT side JJ effects NNS -LCB- -LRB- of IN cyclosporine NN -RCB- -RRB- have VBP made VBN the DT penalty NN for IN its PRP$ success NN rather RB high JJ , , '' '' Dr. NNP Starzl NNP said VBD  . .
Dr. NNP Fung NNP said VBD that IN FK-506 NNP would MD not RB be VB available JJ in IN the DT market NN for IN at IN least JJS a DT year NN , , and CC that IN the DT FDA NNP approval NN process NN usually RB takes VBZ three CD years NNS to TO five CD years NNS . .
There EX are VBP no DT firm JJ plans NNS  to TO expand VB the DT experimental JJ program NN beyond IN the DT University NNP of IN Pittsburgh NNP , , whose WP$ hospital NN  performs VBZ the DT most JJS transplants NNS in IN the DT world NN . .
Researchers NNS could MD n't RB estimate VB the DT cost NN of IN the DT drug NN when WRB it PRP reaches VBZ the DT market NN  , , but CC they PRP said VBD  FK-506 NNP will MD enable VB patients NNS to TO cut VB hospital NN stays NNS by IN 50 CD % NN and CC reduce VB the DT number NN of IN blood NN tests NNS used VBN  to TO monitor VB the DT dosage NN of IN cyclosporine JJ and CC other JJ drugs NNS among IN transplant NN recipients NNS . .
Dr. NNP Starzl NNP said VBD  the DT research NN has VBZ been VBN largely RB financed VBN  by IN the DT National NNP Institute NNP of IN Health NNP and CC by IN university NN funds NNS , , and CC that IN Fujisawa NNP did VBD n't RB give VB the DT hospital NN any DT grants NNS . .
He PRP said VBD that IN the DT research NN team NN had VBD no DT financial JJ stake NN in IN the DT drug NN . .
`` `` We PRP 've VBP known VBN for IN six CD months NNS the DT effect NN of IN this DT drug NN , , and CC our PRP$ advice NN to TO our PRP$ people NNS has VBZ been VBN  not RB to TO buy VB the DT company NN 's POS stock NN , , '' '' Dr. NNP Starzl NNP said VBD  , ,  adding VBG that IN  profiting VBG from IN FK-506 NNP would MD n't RB be VB ethical JJ . .
Economist NN David NNP N. NNP Laband NNP 's POS Sept. NNP 27 CD editorial-page NN article NN , , `` `` In IN Hugo NNP 's POS Path NN , , a DT Man-Made JJ Disaster NN , , '' '' decries VBZ the DT control NN of IN price NN gouging NN , , swiftly RB ordered VBN  by IN South NNP Carolina NNP 's POS governor NN after IN Hurricane NNP Hugo NNP . .
According VBG to TO Mr. NNP Laband NNP , ,  `` `` screaming VBG '' '' for IN price NN controls NNS occurs VBZ when WRB income NN redistribution NN `` `` threatens VBZ  to TO hit VB home NN  . . '' ''
 To TO be VB sure JJ , , the DT threat NN has VBZ hit VBN home NN down IN here RB . .
Yet CC in IN Mr. NNP Laband NNP 's POS rehash NN of IN free-market JJ logic NN , , human JJ greed NN and CC self-interest NN are VBP the DT only JJ permissible JJ psychological JJ reactions NNS . .
 Allowing VBG uncontrolled JJ prices NNS for IN necessities NNS would MD indeed RB shorten VB the DT lines NNS at IN stores NNS , , as IN he PRP contends VBZ   . .
But CC not RB because IN resources NNS are VBP going VBG to TO their PRP$ most RBS efficient JJ use NN , ,  leaving VBG scarce JJ goods NNS `` `` allocated VBN  to TO those DT buyers NNS who WP  place VBP the DT highest JJS value NN on IN them PRP . . '' ''
Rather RB , , lines NNS would MD diminish VB because RB at IN higher JJR prices NNS many JJ victims NNS could MD not RB afford VB necessities NNS such JJ as IN food NN and CC medical JJ supplies NNS . .
It PRP  is VBZ inhumane JJ  to TO imply VB that IN a DT poor JJ , , unemployed JJ woman NN can MD not RB receive VB immediate JJ relief NN for IN her PRP$ family NN at IN fair JJ prices NNS because IN she PRP does VBZ not RB have VB as RB much JJ   to TO protect VB  as IN a DT rich JJ family NN . .
Moreover RB , , essential JJ relief NN supplies NNS such JJ as IN ice NN must MD be VB distributed VBN  throughout IN the DT population NN because IN of IN potential JJ health NN problems NNS from IN spoiled JJ food NN and CC possible JJ outbreak NN of IN disease NN . .
Such JJ spillover NN effects NNS give VBP the DT state NN a DT right NN  to TO intervene VB in IN the DT marketplace NN and CC temporarily RB coordinate VB allocation NN of IN resources NNS . .
Fortunately RB , , volunteers NNS and CC charities NNS are VBP not RB motivated VBN  by IN self-interest NN , , but CC by IN altruism NN . .
Why WRB should MD they PRP have VBP  to TO co-exist VB with IN opportunists NNS rushing VBG in RB  to TO turn VB a DT quick JJ profit NN  ? .
These DT latter-day JJ scalawags NNS would MD be VB ill-advised JJ  to TO take VB advantage NN of IN the DT situation NN , , if IN they PRP ever RB expect VBP  to TO face VB the DT people NNS of IN South NNP Carolina NNP again RB . .
The DT government NN is VBZ actually RB protecting VBG avaricious JJ ice-baggers NNS and CC other JJ profiteers NNS who WP  can MD not RB see VB beyond IN their PRP$ own JJ short-term JJ gain NN . .
South NNP Carolina NNP deserves VBZ an DT A NN for IN its PRP$ quick JJ and CC timely JJ relief NN efforts NNS . .
Mr. NNP Laband NNP , , meanwhile RB , , gets VBZ an DT A NN for IN his PRP$ rote JJ recital NN of IN economic-efficiency NN arguments NNS . .
 Give VB him PRP an DT F NN for IN his PRP$ failure NN  to TO understand VB the DT ethics NNS of IN economic JJ equity NN . .
 Signed VBN  by IN 25 CD students NNS
Of IN Douglas NNP Woodward NNP 's POS Honors NNP Economics NNP Class NNP , ,
University NNP of IN South NNP Carolina NNP
Columbia NNP , , S.C NNP . .
Mr. NNP Laband NNP gives VBZ us PRP an DT idea NN why WRB economists NNS ' POS predictions NNS are VBP usually RB wrong JJ  . .
They PRP set VBP up RP absurd JJ situations NNS , , detached VBN  from IN reality NN , , and CC then RB try VB  to TO reason VB from IN them PRP . .
I PRP 'm VBP surprised JJ  he PRP did VBD n't RB advocate NN  letting VBG people NNS loot VB , , since IN that DT behavior NN can MD also RB be VB foreseen VBN  in IN a DT disaster NN and CC `` `` every DT individual NN has VBZ an DT incentive NN  to TO alter VB the DT distribution NN of IN income NN in IN his PRP$ favor NN . . '' ''
Price NN controls NNS were VBD `` `` so RB fervently RB embraced VBN  by IN Charleston NNP '' '' because IN price NN gouging NN in IN this DT situation NN is VBZ equivalent JJ to TO looting VBG . .
Suzanne NNP Foster NNP
Galax NNP , , Va NNP . .
Mr. NNP Laband NNP described VBD one CD of IN the DT more RBR insidious JJ threats NNS  we PRP face VBP  when WRB  dealing VBG with IN disasters NNS such JJ as IN Hugo NNP  -- : anti-profiteering JJ ordinances NNS such JJ as IN that DT by IN the DT Charleston NNP City NNP Council NNP as IN it PRP thrashed VBD about RB  trying VBG  to TO Do VB Something NN . .
Since IN he PRP concentrated VBD on IN the DT economic JJ folly NN of IN such JJ ordinances NNS , , he PRP did VBD n't RB mention VB certain JJ other JJ of IN their PRP$ effects NNS . .
They PRP divert VBP law-enforcement NN resources NNS at IN a DT time NN  they PRP are VBP most RBS needed VBN  for IN  protecting VBG lives NNS and CC property NN  . .
Also RB , , rather RB than IN  increase VB supplies NNS , , they PRP reduce VBP them PRP and CC encourage VBP hoarding NN . .
And CC they PRP , , or CC even RB the DT prospect NN of IN them PRP , , discourage VBP disaster NN preparedness NN in IN the DT form NN of IN speculative JJ advance NN stocking NN of IN supplies NNS by IN merchants NNS . .
N. NNP Joseph NNP Potts NNP
Miami NNP Lakes NNP , , Fla NNP . .
Would MD Mr. NNP Laband NNP also RB suggest VB that IN the DT Red NNP Cross NNP , , Salvation NNP Army NNP , , military JJ units NNS , , police NNS , , fire NN departments NNS , , rescue NN units NNS and CC individual JJ citizens NNS cease VB their PRP$ efforts NNS  to TO assist VB Hugo NNP 's POS victims NNS because IN they PRP interfere VBP with IN his PRP$ concept NN of IN the DT `` `` free JJ market NN '' '' ? .
What WP about IN those DT caring JJ people NNS all RB over IN the DT country NN who WP  are VBP donating VBG food NN , , water NN and CC other JJ necessities NNS of IN life NN to TO these DT people NNS who WP  could MD be VB any DT of IN us PRP ? .
Should MD they PRP , , too RB , , stop VB  `` `` messing VBG with IN '' '' his PRP$ free JJ market NN ? .
Maybe RB he PRP thinks VBZ  they PRP should MD also RB sell VB to TO the DT highest JJS bidder NN . .
And CC what WP about IN insurance NN firms NNS ? .
Should MD they PRP be VB required VBN  to TO pay VB claims NNS based VBN on IN exorbitant JJ costs NNS for IN labor NN and CC materials NNS ? .
Mr. NNP Laband NNP should MD beware VB , , since IN he PRP lives VBZ in IN South NNP Carolina NNP . .
In IN a DT free JJ market NN , , his PRP$ insurance NN rates NNS can MD be VB raised VBN   to TO recover VB insurance-company NN losses NNS . .
John NNP W. NNP Rush NNP
Marietta NNP , , Ga NNP . .
 Having VBG been VBN through IN several JJ tornadoes NNS and CC hurricanes NNS , , I PRP have VBP a DT different JJ perspective NN . .
Mine PRP comes VBZ from IN  seeing VBG thriving JJ communities NNS devastated VBN  -- : but CC only RB temporarily RB . .
Their PRP$ recovery NN came VBD surprisingly RB fast RB , , and CC always RB with IN the DT help NN of IN neighbors NNS . .
The DT shock NN of IN  seeing VBG homes NNS destroyed VBN  and CC city NN services NNS disrupted VBN  may MD cause VB some DT to TO confuse VB priorities NNS such JJ as IN the DT true JJ economic JJ value NN of IN a DT freezer NN full JJ of IN meat NN . .
In IN Texas NNP after IN Hurricane NNP Alicia NNP , , major JJ grocery NN chains NNS used VBD their PRP$ truck NN fleets NNS  to TO ship VB essential JJ goods NNS to TO Houston NNP , , no DT gouging NN , , just RB good JJ will NN . .
Tom NNP Mongan NNP
Victoria NNP , , Texas NNP
We PRP here RB in IN the DT affected JJ areas NNS were VBD dazzled VBN  by IN Mr. NNP Laband NNP 's POS analysis NN of IN time NN values NNS and CC his PRP$ comparisons NNS of IN effectiveness NN concerning VBG research NN and CC development NN . .
His PRP$ theoretical JJ approach NN and CC its PRP$ publication NN in IN this DT venerable JJ paper NN are VBP no DT doubt NN a DT noteworthy JJ accomplishment NN for IN him PRP . .
Too RB bad JJ theory NN fails VBZ in IN practice NN . .
We PRP consumers NNS tend VBP  to TO have VB long JJ memories NNS . .
The DT businesses NNS subscribing VBG to TO Mr. NNP Laband NNP 's POS effective JJ price NN system NN will MD be VB remembered VBN  when WRB normalcy NN returns VBZ  . .
Perhaps RB , ,  considering VBG the DT value NN of IN our PRP$ time NN , , we PRP will MD be VB unable JJ  to TO patronize VB their PRP$ establishments NNS in IN the DT post-Hugo JJ era NN . .
I PRP have VBP a DT question NN for IN Mr. NNP Laband NNP : : How WRB do VB I PRP explain VB to TO the DT single JJ mother NN of IN three CD standing NN in IN line NN next JJ to TO me PRP for IN the DT past JJ three CD hours NNS that IN the DT two CD bags NNS of IN ice NN  she PRP needs VBZ   to TO keep VB her PRP$ children NNS 's POS food NN edible JJ will MD take VB her PRP last JJ $ $ 20 CD   ? .
I PRP 'm VBP sure JJ  she PRP 'll MD appreciate VB what WP an DT efficient JJ reaction NN to TO her PRP$ problems NNS the DT price NN system NN has VBZ created VBN  . .
Chris NNP Edgar NNP
Myrtle NNP Beach NNP , , S.C NNP . .
This DT seems VBZ  to TO be VB the DT season NN for IN revivals NNS in IN Chicago NNP . .
Though NNP the DT Cubs NNP ' POS championship NN season NN ended VBD with IN the DT National NNP League NNP playoffs NNS , , a DT revival NN of IN the DT Organic NNP Theater NNP 's POS production NN of IN `` `` Bleacher NN Bums NNS , , '' '' a DT play NN in IN nine CD innings NN set VBN  in IN the DT Wrigley NNP Field NNP bleachers NNS , , continues VBZ within IN spitting NN distance NN of IN the DT ballpark NN . .
Revivals NNS of IN a DT different JJ sort NN also RB are VBP being VBG offered VBN  by IN our PRP$ two CD major JJ theater NN troupes NNS , , the DT Goodman NNP and CC Steppenwolf NNP . .
Each DT is VBZ more RBR problematic JJ than IN an DT unexpected JJ divisional JJ baseball NN championship NN , , but CC both DT help VBP  explain VB why WRB Chicago NNP remains VBZ a DT vital JJ center NN of IN this DT country NN 's POS regional JJ theater NN movement NN  . .
The DT Goodman NNP is VBZ offering VBG a DT modernized JJ version NN of IN Moliere NNP 's POS `` `` The DT Misanthrope NN '' '' through IN Nov. NNP 4 CD . .
The DT original NN is VBZ a DT comedy NN about IN Alceste NNP , , a DT man NN who WP  sees VBZ falseness NN and CC vanity NN in IN everyone NN except IN himself PRP . .
He PRP is VBZ the DT jealous JJ friend NN of IN Philinte NNP , , and CC the DT jealous JJ lover NN of IN Celimene NNP . .
The DT play NN is VBZ filled VBN  with IN intrigue NN , , dishonesty NN and CC injustice NN . .
Twenty-five CD years NNS ago RB the DT poet NN Richard NNP Wilbur NNP modernized VBD this DT 17th-century JJ comedy NN merely RB by IN  avoiding VBG `` `` the DT zounds UH sort NN of IN thing NN , , '' '' as IN he PRP wrote VBD in IN his PRP$ introduction NN . .
Otherwise RB , , the DT scene NN remained VBD Celimene NNP 's POS house NN in IN 1666 CD . .
 Assuming VBG  modern JJ audiences NNS readily RB understand VBP that DT Moliere NNP 's POS social JJ indictment NN covers VBZ their PRP$ world NN as RB well RB as IN 17th-century JJ Paris NNP , , Mr. NNP Wilbur NNP concentrated VBD his PRP$ formidable JJ artistry NN on IN  rendering VBG the DT Alexandrine JJ French JJ verse NN into IN sprightly JJ and CC theatrical JJ English JJ iambic JJ pentameter NN . .
The DT Wilbur NNP translation NN is VBZ remarkable JJ -- : well RB worth JJ a DT read VBN and CC even RB better RBR  seen VBN  in IN the DT theater NN if IN you PRP ever RB have VBP the DT opportunity NN . .
But CC if IN you PRP happen VBP  to TO be VB coming VBG to TO Chicago NNP in IN the DT next JJ few JJ weeks NNS , ,  do VBP n't RB fail VB  to TO have VB a DT look NN at IN Robert NNP Falls NNP 's POS `` `` The DT Misanthrope NN '' '' at IN the DT Goodman NNP . .
If IN Mr. NNP Wilbur NNP 's POS translation NN is VBZ a DT finely RB ground VBN lens NN through IN which WDT we PRP see VBP the DT pettiness NN and CC corruption NN of IN 17th-century JJ Paris NNP  , , Mr. NNP Falls NNP 's POS production NN is VBZ a DT mirror NN in IN which WDT we PRP see VBP ourselves PRP  . .
Mr. NNP Falls NNP , , the DT Goodman NNP 's POS artistic JJ director NN , , took VBD a DT recent JJ adaptation NN by IN Neil NNP Bartlett NNP and CC significantly RB adapted VBD it PRP . .
Mr. NNP Bartlett NNP had VBD slimmed VBN Moliere NNP 's POS cast NN of IN characters NNS to TO six CD and CC set VBN them PRP in IN the DT London NNP media NN world NN of IN Thatcherite JJ Britain NNP . .
Mr. NNP Falls NNP transfers VBZ the DT setting NN to TO Hollywood NNP , , and CC transforms VBZ the DT characters NNS into IN what WP  passes VBZ for IN aristocracy NN there RB -- : agents NNS , , producers NNS , , actors NNS , , writers NNS and CC sycophants NNS . .
It PRP works VBZ . .
Mr. NNP Bartlett NNP managed VBD  to TO more RBR or CC less RBR maintain VB Moliere NNP 's POS Alexandrine JJ verse NN form NN , , 12 CD syllable NN lines NNS in IN rhyming VBG couplets NNS . .
Mr. NNP Falls NNP kept VBD the DT form NN , , but CC Americanized VBD it PRP with IN Mr. NNP Bartlett NNP 's POS further JJ help NN . .
With IN a DT splendid JJ cast NN led VBN  by IN David NNP Darlow NNP as IN Alceste NNP , , Christina NNP Haag NNP as IN Celimene NNP and CC , , especially RB , , William NNP Brown NNP as IN a DT Philinte NNP who WP  plays VBZ the DT Hollywood NNP game NN but CC harbors VBZ authentic JJ values NNS and CC feelings NNS , , the DT Goodman NNP production NN barrels NNS through IN an DT all-night JJ Hollywood NNP party NN with IN exuberance NN and CC wit NN . .
If IN this DT version NN , , with IN its PRP$ references NNS to TO Steven NNP Spielberg NNP , , Spago NNP and CC `` `` thirtysomething NN '' '' attracts VBZ younger JJR audiences NNS who WP  might MD stay VB away RB from IN the DT classical JJ version NN , , then RB Messrs. NNPS Bartlett NNP and CC Falls NNP are VBP justified JJ in IN  abandoning VBG Mr. NNP Wilbur NNP . .
A DT 300-year-old JJ play NN may MD be VB easier JJR   to TO revive VB  than IN one NN merely RB 25 CD . .
The DT Steppenwolf NNP Theatre NNP Company NNP , , back RB from IN a DT critical JJ and CC box NN office NN success NN in IN London NNP with IN its PRP$ adaptation NN of IN Steinbeck NNP 's POS `` `` The DT Grapes NNS of IN Wrath NN , , '' '' opened VBD the DT new JJ season NN with IN Harold NNP Pinter NNP 's POS `` `` The DT Homecoming NN , , '' '' first RB produced VBN  by IN the DT Royal NNP Shakespeare NNP Company NNP in IN 1965 CD . .
Back RB then RB , , Mr. NNP Pinter NNP was VBD not RB only RB the DT angry JJ young JJ British JJ playwright NN , , but CC also RB the DT first JJ   to TO use VB silences NNS and CC sentence NN fragments NNS and CC menacing JJ stares NNS , , almost RB to TO the DT exclusion NN of IN what WP we PRP previously RB understood VBD  to TO be VB theatrical JJ dialogue NN . .
When WRB `` `` The DT Homecoming NN '' '' was VBD first RB produced VBN on IN this DT side NN of IN the DT Atlantic NNP  , , actors NNS and CC directors NNS were VBD reverential JJ . .
Silences NNS were VBD lengthy JJ -- : nobody NN moved VBD or CC gestured VBD . .
Nobody NN smiled VBD onstage RB , , and CC nobody NN in IN the DT audience NN was VBD encouraged VBN  to TO laugh VB . .
This DT kind NN of IN theater NN was VBD new JJ to TO us PRP . .
Also RB , , it PRP was VBD not RB a DT funny JJ time NN over IN here RB , , what WP with IN the DT Vietnam NNP War NNP , , the DT '68 CD Democratic JJ convention NN , , assassinations NNS and CC riots NNS . .
But CC under IN Jerry NNP Perry NNP 's POS direction NN the DT current JJ Steppenwolf NNP production NN , , scheduled VBN  to TO play VB through IN Nov. NNP 19 CD , , breaks VBZ through IN the DT flat JJ and CC boring JJ ritual NN that IN `` `` The DT Homecoming NN '' '' had VBD become VBN  . .
 Led VBN  by IN a DT near-perfect JJ performance NN by IN Alan NNP Wilder NNP as IN Max NNP , , the DT father NN , , the DT play NN is VBZ at IN once RB an DT appalling JJ and CC hilarious JJ dissection NN of IN a DT family NN 's POS rage NN , , bitterness NN , , fear NN and CC isolation NN . .
 Encouraged VBN  by IN Mr. NNP Wilder NNP 's POS sly JJ grins NNS , , embarrassed JJ grimaces NNS and CC sputtering JJ rages NNS , , the DT audience NN gets VBZ the DT joke NN and CC begins VBZ  to TO laugh VB before IN the DT end NN of IN the DT first JJ act NN . .
Three CD of IN the DT family NN members NNS , , Max NNP and CC his PRP$ two CD sons NNS , , Lenny NNP and CC Joey NNP , , live VBP off IN the DT flesh NN : : Max NNP is VBZ a DT retired JJ butcher NN , , Lenny NNP a DT pimp NN and CC Joey NNP an DT aspiring JJ boxer NN . .
Sam NNP , , Max NNP 's POS brother NN , , has VBZ escaped VBN the DT flesh NN by IN  working VBG as IN a DT liveried JJ chauffeur NN and CC never RB seeking VBG a DT wife NN . .
Teddy NNP , , the DT eldest JJS of IN Max NNP 's POS sons NNS , , has VBZ made VBN the DT most RBS dramatic JJ escape NN by IN  becoming VBG a DT professor NN of IN philosophy NN at IN an DT American JJ university NN . .
Though IN it PRP 's VBZ clearly RB Max NNP 's POS wife NN who WP  held VBD sway NN here RB until IN her PRP$ death NN , , now RB none NN of IN the DT other JJ male JJ residents NNS of IN this DT misbegotten JJ household NN can MD challenge VB Max NNP . .
The DT play NN concerns VBZ Teddy NNP 's POS homecoming NN with IN his PRP$ wife NN of IN six CD years NNS , , Ruth NNP . .
Curiously NNP , , Randall NNP Arney NNP as IN Teddy NNP seems VBZ the DT only JJ cast NN member NN unable JJ  to TO get VB beyond IN the DT zombie NN approach NN to TO a DT Pinter NNP character NN . .
As IN Ruth NNP , , Moira NNP Harris NNP , , a DT large JJ and CC beautiful JJ woman NN who WP  may MD be VB our PRP$ next JJ Colleen NNP Dewhurst NNP , , begins VBZ almost RB immediately RB  to TO overpower VB each DT of IN the DT men NNS . .
In IN the DT end NN , , Teddy NNP returns VBZ alone RB to TO America NNP , ,  leaving VBG Ruth NNP in IN Max NNP 's POS chair NN . .
We PRP have VBP seen VBN her PRP develop VB within IN a DT few JJ hours NNS from IN a DT shy JJ and CC unknown JJ in-law NN to TO a DT goddess NN of IN the DT flesh NN who WP  will MD replace VB the DT dead JJ mother NN , , and CC then RB some RB . .
While IN Steppenwolf NNP was VBD in IN London NNP with IN `` `` The DT Grapes NNS of IN Wrath NN , , '' '' Bruce NNP Sagan NNP , , the DT president NN of IN its PRP$ board NN of IN directors NNS , , quietly RB returned VBD to TO Chicago NNP  to TO buy VB a DT piece NN of IN real JJ estate NN in IN the DT city NN 's POS rapidly RB reviving VBG North NNP Halsted NNP Street NNP restaurant NN and CC theater NN district NN . .
Within IN a DT year NN he PRP hopes VBZ  Steppenwolf NNP will MD move VB into IN a DT new JJ 500-seat JJ theater NN on IN that DT site NN . .
The DT troupe NN currently RB performs VBZ in IN a DT converted JJ dairy NN that WDT  seats VBZ 211 CD and CC provides VBZ little JJ capacity NN for IN  staging VBG anything NN beyond IN a DT simple JJ one-set JJ production NN . .
`` `` If IN we PRP wanted VBD  to TO stage VB ` `` Death NN of IN a DT Salesman NN , , ' '' `` `` Mr. NNP Sagan NNP says VBZ  , , `` `` Willie NNP Loman NNP would MD have VB  to TO live VB in IN a DT ranch NN house NN because IN of IN the DT low JJ ceiling NN . . '' ''
Steppenwolf NNP needs VBZ the DT extra JJ seats NNS even RB more RBR than IN the DT fly NN space NN . .
It PRP 's VBZ currently RB forced VBN  to TO turn VB away RP many JJ potential JJ subscribers NNS beyond IN the DT 13,000 CD who WP  can MD be VB accommodated VBN  in IN its PRP$ present JJ digs NNS . .
For IN all PDT the DT attention NN that IN Chicago NNP theater NN has VBZ received VBN  during IN the DT past NN decade NN , , not RB one CD new JJ building NN has VBZ been VBN devoted VBN  to TO it PRP . .
Mr. NNP Sagan NNP , , a DT former JJ publisher NN and CC real JJ estate NN developer NN , , has VBZ put VBN together RB an DT $ $ 8 CD million CD  financial JJ package NN that WDT  includes VBZ approximately RB $ $ 4 CD million CD  of IN tax NN exempt JJ bonds NNS issued VBN  by IN the DT State NNP of IN Illinois NNP -LRB- -LRB- the DT first JJ time NN that IN a DT state NN has VBZ used VBN its PRP$ educational JJ facilities NNS authority NN  to TO support VB construction NN of IN a DT theater NN -RRB- -RRB- , , and CC approximately RB $ $ 1 CD million CD  in IN grants NNS from IN the DT National NNP Endowment NNP for IN the DT Arts NNP , , the DT MacArthur NNP Foundation NNP , , and CC a DT few JJ other JJ deep JJ pockets NNS . .
The DT rest NN , , he PRP is VBZ confident JJ   , , can MD be VB raised VBN  . .
His PRP$ board NN members NNS alone RB have VBP pledged VBN $ $ 800,000 CD  and CC he PRP is VBZ just RB beginning VBG  to TO massage VB local JJ foundations NNS and CC corporations NNS . .
Mr. NNP Sagan NNP compares VBZ the DT importance NN of IN Steppenwolf NNP with IN Orson NNP Welles NNP 's POS Mercury NNP Theater NNP in IN the DT '30s NNS . .
But CC Welles NNP 's POS theater NN company NN turned VBD out RP  to TO have VB a DT brief JJ -- : one PRP might MD say VB a DT mercurial JJ -- : existence NN . .
What WP will MD Mr. NNP Sagan NNP do VB  with IN his PRP$ new JJ theater NN building NN if IN the DT allure NN of IN Hollywood NNP and CC Broadway NNP proves VBZ too RB much RB for IN such JJ Steppenwolf NNP stalwarts NNS as IN John NNP Malkovich NNP -LRB- -LRB- `` `` Dangerous JJ Liaisons NNS '' '' -RRB- -RRB- , , Joan NNP Allen NNP -LRB- -LRB- `` `` The DT Heidi NNP Chronicles NNS '' '' -RRB- -RRB- , , and CC Glenne NNP Headly NNP -LRB- -LRB- `` `` Lonesome JJ Dove NN '' '' -RRB- -RRB- , , and CC the DT company NN crumbles VBZ ? .
`` `` That DT 's VBZ OK JJ , , '' '' Mr. NNP Sagan NNP replies VBZ  . .
`` ``  Let VB this DT building NN be VB Steppenwolf NNP 's POS legacy NN to TO Chicago NNP theater NN . . '' ''
Mr. NNP Henning NNP is VBZ a DT Chicago-based JJ law NN firm NN management NN consultant NN and CC a DT writer NN . .
After IN  enduring VBG three CD days NNS of IN heavy JJ selling NN , , the DT beleaguered JJ Nasdaq NNP over-the-counter JJ market NN finally RB rebounded VBD , ,  rising VBG sharply RB in IN hearty JJ trading NN . .
The DT Nasdaq NNP Composite NNP Index NNP jumped VBD 0.7 CD % NN , , or CC 3.35 CD , , to TO 463.28 CD . .
It PRP rose VBD more RBR than IN the DT New NNP York NNP Stock NNP Exchange NNP Composite NNP , , which WDT  improved VBD 0.2 CD % NN . .
Among IN bigger JJR stocks NNS , , the DT Nasdaq NNP 100 CD Index NNP rose VBD 1 CD % NN , , or CC 4.56 CD , , to TO 453.05 CD , , while IN the DT Dow NNP Jones NNP Industrial NNP Average NNP was VBD up RB 0.2 CD % NN . .
Richard NNP Bruno NNP , , head NN of IN OTC NNP trading NN at IN PaineWebber NNP , , said VBD  the DT OTC NNP market NN has VBZ a DT habit NN of IN  lagging VBG big JJ moves NNS on IN the DT New NNP York NNP Stock NNP Exchange NNP . .
While IN the DT industrial JJ average NN rallied VBD on IN Monday NNP following VBG last JJ Friday NNP 's POS collapse NN , , the DT OTC NNP market NN , , which WDT  did VBD n't RB suffer VB too RB badly RB during IN the DT correction NN , , tumbled VBD . .
`` `` Our PRP$ market NN got VBD hit VB a DT lot NN harder RBR  on IN Monday NNP than IN the DT listed JJ market NN , , '' '' Mr. NNP Bruno NNP said VBD  . .
`` `` We PRP 're VBP just RB recovering VBG and CC getting VBG back RB to TO business NN as RB usual JJ . .
I PRP 'm VBP encouraged VBN  by IN the DT action NN . . '' ''
The DT trading NN pace NN was VBD busy JJ , , with IN 4,343 CD issues NNS and CC 147.6 CD million CD shares NNS changing VBG hands NNS . .
Advancing VBG issues NNS beat VBP declining VBG ones NNS , , 1,271 CD to TO 811 CD . .
Much JJ of IN the DT jockeying NN by IN OTC NNP traders NNS and CC investors NNS centered VBD on IN shares NNS of IN companies NNS that WDT  might MD be VB financially RB affected VBN  by IN damage NN from IN the DT devastating JJ earthquake NN in IN northern JJ California NNP . .
As IN investors NNS speculated VBD about IN the DT long JJ - : and CC short-term JJ implications NNS , , shares NNS of IN a DT number NN of IN companies NNS that WDT  might MD either CC profit VB or CC face VB problems NNS because IN of IN the DT disaster NN were VBD actively RB traded VBN  . .
 Heading VBG the DT list NN : : insurance NN , , construction NN and CC technology NN companies NNS located VBN  in IN the DT San NNP Francisco NNP Bay NNP Area NNP . .
Insurance-related JJ stocks NNS were VBD mixed JJ as IN investors NNS tried VBD  to TO figure VB out RP how WRB  to TO assess VB the DT impact NN of IN the DT property NN damage NN and CC deaths NNS on IN those DT concerns NNS . .
Traders NNS said VBD  property-casualty JJ companies NNS with IN the DT heaviest JJS exposure NN in IN the DT San NNP Francisco NNP area NN include VBP the DT OTC NNP 's POS Safeco NNP and CC Ohio NNP Casualty NNP . .
Frank NNP Gilmartin NNP , , a DT trader NN who WP  follows VBZ insurance NN stocks NNS for IN Fox-Pitt NNP Kelton NNP , , said VBD  his PRP$ strategy NN was VBD  to TO sell VB early RB . .
Then RB , , if IN the DT stocks NNS fell VBD sharply RB , , he PRP planned VBD  to TO begin VB  buying VBG them PRP aggressively RB , , on IN the DT theory NN that IN the DT companies NNS that WDT  insure VBP against IN property NN damage NN and CC accidents NNS will MD have VB  to TO raise VB rates NNS eventually RB  to TO compensate VB for IN the DT claims NNS  they PRP will MD pay VB  to TO earthquake NN victims NNS and CC victims NNS of IN last JJ month NN 's POS Hurricane NNP Hugo NNP . .
As RB well RB , , reinsurers NNS and CC insurance NN brokerage NN companies NNS will MD have VB improved JJ profits NNS . .
Many JJ investors NNS expected VBD damage NN from IN the DT hurricane NN to TO be VB the DT catalyst NN for IN higher JJR rates NNS in IN the DT industry NN , , which WDT  has VBZ been VBN depressed VBN  because IN of IN low JJ rates NNS arising VBG from IN intense JJ competition NN . .
But CC Mr. NNP Gilmartin NNP said VBD  the DT hurricane NN damage NN was VBD n't RB extensive JJ enough RB  to TO prompt VB premium NN boosts NNS . .
`` `` The DT companies NNS just RB gave VBD back RP what WP they PRP had VBD reserved VBN for IN  , , '' '' he PRP said VBD  . .
`` `` Now RB , , they PRP 'll MD have VB  to TO increase VB their PRP$ coffers NNS  to TO protect VB for IN the DT future NN and CC that DT means VBZ rate NN increases NNS . . '' ''
Overall JJ OTC NNP insurance NN issues NNS were VBD mixed JJ . .
Safeco NNP fell VBD 1\/8 CD to TO 32 CD 5\/8 CD on IN 462,900 CD shares NNS . .
Ohio NNP Casualty NNP rose VBD 1\/4 CD to TO 51 CD 3\/4 CD on IN 137,200 CD shares NNS . .
St. NNP Paul NNP Cos. NNP jumped VBD 2 CD to TO 59 CD 3\/4 CD on IN 517,500 CD shares NNS . .
Academy NNP Insurance NNP fell VBD 1\/32 CD to TO 1 CD 3\/16 CD ; : but CC volume NN totaled VBD 1.2 CD million CD shares NNS . .
The DT Nasdaq NNP Insurance NNP Index NNP jumped VBD 4.15 CD to TO 529.32 CD on IN the DT day NN , , while IN the DT barometer NN of IN big JJ insurance NN and CC banking NN issues NNS climbed VBD 1.72 CD to TO 455.29 CD . .
Investors NNS expect VBP SunGard NNP Data NNP Systems NNP , , a DT company NN that WDT  provides VBZ disaster NN recovery NN services NNS for IN computer-dependent JJ businesses NNS , , to TO profit VB from IN the DT earthquake NN . .
SunGard NNP 's POS stock NN rose VBD 1 CD 3\/4 CD to TO 21 CD 1\/4 CD on IN 194,000 CD shares NNS . .
Shares NNP of IN Kasler NNP , , a DT California NNP road NN and CC bridge NN builder NN , , were VBD heavily RB traded VBN  , ,  jumping VBG 2 CD 1\/8 CD to TO 9 CD 7\/8 CD on IN 1.3 CD million CD shares NNS . .
Guy NNP F. NNP Atkinson NNP added VBD 7\/8 CD to TO 16 CD 7\/8 CD , , on IN 335,700 CD shares NNS . .
The DT company NN , , based VBN  in IN San NNP Francisco NNP , , provides VBZ industrial JJ infrastructure NN engineering NN and CC construction NN services NNS . .
Traders NNS were VBD initially RB nervous JJ about IN shares NNS of IN companies NNS , , including VBG many JJ leading JJ OTC NNP computer NN companies NNS , , such JJ as IN Apple NNP Computer NNP with IN offices NNS in IN the DT vicinity NN of IN the DT area NN damaged VBN  by IN the DT quake NN . .
But CC most JJS of IN those DT stocks NNS fared VBD well RB . .
Apple NNP Computer NNP gained VBD 1 CD to TO 48 CD 1\/4 CD ; : Ashton-Tate NNP rose VBD 3\/8 CD to TO 10 CD 3\/8 CD . .
Intel NNP also RB added VBD 3\/8 CD to TO 33 CD 7\/8 CD . .
But CC Sun NNP Microsystems NNP slipped VBD 1\/4 CD to TO 17 CD 1\/4 CD . .
Shares NNS of IN biotechnology NN companies NNS in IN the DT area NN were VBD also RB higher JJR . .
Chiron NNP was VBD up RB 1\/2 CD to TO 27 CD and CC Cetus NNP gained VBD 1\/2 CD to TO 16 CD 3\/8 CD . .
The DT stocks NNS of IN computer-related JJ companies NNS located VBN  outside IN California NNP improved VBD , , too RB . .
Microsoft NNP advanced VBD 1 CD 7\/8 CD to TO 80 CD 1\/2 CD and CC Lotus NNP Development NNP added VBD 1 CD 1\/4 CD to TO 32 CD 1\/2 CD . .
In IN other JJ earthquake-related JJ news NN , , Hambrecht NNP & CC Quist NNP 's POS OTC NNP market NN makers NNS were VBD excused VBN  from IN trading NN yesterday NN and CC its PRP$ positions NNS were VBD frozen VBN  for IN the DT day NN by IN the DT National NNP Association NNP of IN Securities NNP Dealers NNP . .
Power NN could MD n't RB be VB restored VBN  at IN the DT company NN 's POS San NNP Francisco NNP headquarters NNS  to TO allow VB trading NN yesterday NN morning NN . .
In IN New NNP York NNP , , Roger NNP Killion NNP , , a DT Hambrecht NNP executive JJ vice NN president NN , , said VBD  he PRP expects VBZ OTC NNP trading NN at IN the DT company NN to TO resume VB this DT morning NN , , either CC in IN New NNP York NNP or CC in IN San NNP Francisco NNP . .
In IN other JJ trading NN , , Medco NNP Containment NNP Services NNP gained VBD 7\/8 CD to TO 15 CD on IN 1.9 CD million CD shares NNS after IN  reporting VBG a DT loss NN for IN the DT first JJ quarter NN , , which WDT  ended VBD Sept. NNP 30 CD . .
The DT company NN earned VBD $ $ 6.6 CD million CD  in IN the DT year-earlier JJ quarter NN . .
Jaguar NNP 's POS American JJ depositary JJ receipts NNS added VBD 3\/8 CD to TO 10 CD 3\/4 CD on IN volume NN of IN 1.1 CD million CD . .
Analysts NNS in IN London NNP believe VBP  investors NNS , , despite IN their PRP$ stampede NN  to TO dump VB takeover NN stocks NNS , , should MD hold VB on RP tight RB to TO their PRP$ Jaguar NNP shares NNS , , this DT newspaper NN 's POS Heard VBN  on IN the DT Street NN column NN said VBD   yesterday NN . .
Amgen NNP rose VBD 1 CD 1\/2 CD to TO 50 CD 3\/4 CD in IN heavy JJ trading NN . .
Analysts NNS figure VBP  Amgen NNP could MD benefit VB as IN a DT result NN of IN troubles NNS facing VBG its PRP$ competitor NN , , Genetics NNP Institute NNP , , over IN the DT anti-anemia NN drug NN EPO NNP . .
Genetics NNP Institute NNP disclosed VBD recently RB that IN it PRP is VBZ embroiled VBN  in IN a DT dispute NN with IN Boehringer NNP Mannheim NNP , , which WDT  distributes VBZ the DT drug NN , , regarding VBG the DT usability NN of IN some DT batches NNS . .
Ciba-Geigy NNP Ltd. NNP and CC Chiron NNP Corp. NNP said VBD  they PRP extended VBD their PRP$ offer NN for IN Connaught NNP BioSciences NNP Inc. NNP , , valued VBN  at IN 866 CD million CD Canadian JJ dollars NNS -LRB- -LRB- US$ $ 736 CD million CD  -RRB- -RRB- to TO Oct. NNP 27 CD . .
The DT companies NNS earlier RBR said VBD  they PRP did VBD n't RB want VB  to TO raise VB their PRP$ offer NN  to TO match VB a DT rival JJ bid NN by IN Institut NNP Merieux NNP S.A. NNP of IN C$ $ 37 CD  a DT share NN , , or CC C$ $ 942 CD million CD  . .
But CC they PRP said VBD  the DT C$ $ 30-a-share JJ  bid NN , , which WDT  was VBD due JJ  to TO expire VB Monday NNP , , may MD still RB be VB extended VBN or CC varied VBN  . .
Merieux NNP , , a DT vaccine NN manufacturer NN based VBN  in IN Lyon NNP , , France NNP , , is VBZ 51%-held JJ by IN French JJ state-owned JJ Rhone-Poulenc NNP S.A NNP . .
Ciba-Geigy NNP is VBZ a DT major JJ pharmaceutical JJ concern NN based VBN  in IN Basel NNP , , Switzerland NNP . .
Chiron NNP , , another DT pharmaceutical JJ concern NN , , is VBZ based VBN  in IN Emeryville NNP , , Calif NNP . .
Connaught NNP is VBZ a DT biotechnology NN research NN and CC vaccine NN manufacturing NN concern NN . .
Institut NNP Merieux NNP 's POS bid NN for IN Toronto-based JJ Connaught NNP has VBZ run VBN into IN problems NNS with IN the DT Canadian JJ government NN , , which WDT  told VBD Merieux NNP last JJ week NN that IN it PRP was VBD n't RB convinced VBN  that IN the DT proposed JJ acquisition NN would MD be VB of IN `` `` net JJ benefit NN '' '' to TO Canada NNP . .
Merieux NNP officials NNS are VBP expected VBN  to TO meet VB with IN federal JJ officials NNS in IN Ottawa NNP today NN  to TO discuss VB the DT decision NN . .
Within IN minutes NNS after IN the DT stock NN market NN closed VBN Friday NNP , , I PRP called VBD Sen. NNP Bill NNP Bradley NNP of IN New NNP Jersey NNP , , advised VBD him PRP that IN the DT Dow NNP Jones NNP Industrial NNP Average NNP had VBD declined VBN by IN 190 CD points NNS late RB that DT afternoon NN , , and CC cheerfully RB informed VBD him PRP that IN he PRP and CC his PRP$ fellow JJ Democrats NNPS were VBD  to TO blame VB  . .
They PRP had VBD dealt VBN a DT major JJ setback NN that DT afternoon NN to TO President NNP Bush NNP 's POS capital-gains NNS tax NN cut NN proposal NN , , which WDT  had VBD seemed VBN in IN the DT bag NN after IN it PRP passed VBD the DT House NN overwhelmingly RB earlier RBR in IN the DT month NN . .
Sen. NNP Bradley NNP has VBZ it PRP  in IN his PRP$ mind NN that IN such PDT a DT tax NN cut NN would MD unravel VB the DT tax NN reform NN  he PRP helped VBD engineer VB  in IN 1986 CD . .
But CC he PRP knows VBZ that IN as RB many JJ as IN 20 CD of IN his PRP$ fellow JJ Democrats NNPS are VBP disposed VBN  to TO vote VB for IN the DT cut NN , , popular JJ among IN their PRP$ constituents NNS . .
As IN a DT result NN , , he PRP took VBD the DT lead NN in IN  arguing VBG that IN the DT cut NN should MD be VB blocked VBN  on IN procedural JJ grounds NNS . .
He PRP helped VBD  persuade VB 10 CD of IN these DT senators NNS  to TO support VB him PRP and CC Majority NNP Leader NNP George NNP Mitchell NNP on IN these DT grounds NNS . .
The DT budget NN reconciliation NN had VBD  to TO be VB dealt VBN with IN  by IN the DT Oct. NNP 15 CD deadline NN , , and CC these DT Senate NNP Democrats NNPS refused VBD  to TO agree VB  to TO allow VB a DT vote NN   to TO append VB capital NN gains NNS to TO the DT budget NN bill NN , ,  knowing VBG  it PRP would MD pass VB . .
 Denied VBN a DT vote NN on IN substance NN , , the DT GOP NNP leadership NN in IN the DT Senate NNP on IN Friday NNP morning NN was VBD confronted VBN  with IN a DT hard JJ choice NN . .
It PRP could MD throw VB in RP the DT towel NN and CC hope VB  to TO win VB on IN capital NN gains NNS late RB this DT month NN , , or CC it PRP could MD follow VB the DT White NNP House NNP strategy NN , ,  to TO veto VB reconciliation NN unless IN capital JJ gains NNS was VBD appended VBN  . .
The DT U.S. NNP Chamber NNP of IN Commerce NNP has VBZ been VBN in IN the DT forefront NN in IN  supporting VBG the DT Bush NNP proposal NN . .
It PRP endorsed VBD the DT White NNP House NNP strategy NN , ,  believing VBG it PRP to TO be VB the DT surest JJS way NN to TO victory NN . .
At IN noon NN Friday NNP , , a DT senior JJ White NNP House NNP official NN advised VBD Richard NNP Rahn NNP , , the DT Chamber NNP 's POS chief JJ economist NN , , that IN the DT White NNP House NNP would MD not RB agree VB to TO a DT budget NN reconciliation NN bill NN unless IN it PRP had VBD firm JJ assurances NNS that IN a DT vote NN on IN substance NN would MD be VB permitted VBN  in IN the DT Senate NNP . .
Two CD hours NNS later RB , , the DT first JJ word NN  emerged VBD on IN Capitol NNP Hill NNP that IN the DT administration NN had VBD agreed VBN to TO reconciliation NN with IN no DT such JJ assurances NNS from IN Senate NNP Democrats NNPS . .
Mr. NNP Rahn NNP was VBD shocked JJ , ,  telephoning VBG the DT office NN of IN Richard NNP Darman NNP , , director NN of IN the DT Office NNP of IN Management NNP and CC Budget NNP , , and CC the DT administration NN 's POS chief JJ strategist NN on IN this DT issue NN . .
He PRP left VBD a DT message NN accusing VBG Mr. NNP Darman NNP of IN  selling VBG out RP . .
It PRP was VBD the DT Senate NNP Republicans NNPS , , though RB , , who WP  had VBD edged VBN away RB from IN the DT veto NN strategy NN . .
The DT stock NN market NN reacted VBD as IN Mr. NNP Rahn NNP did VBD  , ,  crumbling VBG as IN it PRP absorbed VBD the DT news NN that IN Mr. NNP Darman NNP 's POS strategy NN had VBD been VBN abandoned VBN  . .
The DT stock NN market NN , , after IN all DT , , represents VBZ the DT collective JJ expectations NNS about IN the DT value NN of IN the DT future JJ income NN stream NN of IN the DT nation NN 's POS capital NN stock NN , , discounted VBD  to TO present JJ value NN . .
Why WRB should MD it PRP  be VB so RB surprising JJ that IN a DT 30 CD % NN cut NN in IN the DT capital-gains NNS tax NN would MD have VB such PDT an DT enormous JJ impact NN on IN the DT value NN of IN the DT nation NN 's POS capital NN stock NN  ? .
The DT total JJ value NN of IN privately RB held VBN assets NNS is VBZ easily RB more JJR than IN $ $ 15 CD trillion CD  . .
The DT value NN traded VBN  on IN the DT exchanges NNS is VBZ close RB to TO $ $ 3 CD trillion CD  . .
If IN the DT tax NN on IN any DT gain NN to TO those DT assets NNS was VBD doubled VBN  , , would MD n't RB the DT value NN fall VB to TO the DT owners NNS of IN the DT assets NNS ? .
Is VBZ n't RB it PRP  reasonable JJ  to TO assume VB that IN the DT asset NN  you PRP own VBP  would MD be VB worth JJ more JJR if IN the DT government NN suddenly RB announced VBD that IN if IN you PRP sold VBD it PRP , , you PRP would MD be VB able JJ  to TO keep VB 30 CD % NN more JJR of IN its PRP$ gain NN than IN you PRP previously RB believed VBD   ? .
Indeed RB , , the DT stock NN market NN 's POS steady JJ advance NN this DT year NN tracked VBD with IN President NNP Bush NNP 's POS success NN in IN  advancing VBG his PRP$ capital-gains NNS proposal NN . .
A DT 30 CD % NN cut NN in IN this DT year NN 's POS capital NN gains NNS alone RB amounts VBZ to TO roughly RB $ $ 50 CD billion CD  . .
We PRP 're VBP talking VBG real JJ money NN . .
When WRB Richard NNP Rahn NNP advised VBD the DT financial JJ press NN that IN the DT market NN crash NN was VBD caused VBN  by IN the DT setback NN to TO capital NN gains NNS  , , he PRP was VBD generally RB ignored VBN  and CC mildly RB ridiculed VBN  . .
Instead RB , , the DT press NN corps NN readily RB accepted VBD the DT notion NN that IN a DT snag NN in IN the DT takeover NN financing NN of IN United NNP Airlines NNP instantly RB knocked VBD 7 CD % NN off IN the DT value NN of IN the DT nation NN 's POS capital NN stock NN and CC caused VBD convulsions NNS around IN the DT world NN . .
Mr. NNP Rahn NNP was VBD pointing VBG out RP an DT elephant NN rumbling VBG through IN Wall NNP Street NNP while IN conventional JJ wisdom NN had VBD fastened VBN on IN the DT UAL NNP flea NN . .
Why WRB is VBZ this DT happening NN  ? .
For IN one CD thing NN , , quite PDT a DT number NN of IN the DT leading JJ spokesmen NNS on IN Wall NNP Street NNP are VBP not RB portfolio NN managers NNS , , who WP  understand VBP that IN the DT value NN of IN assets NNS is VBZ greatly RB affected VBN  by IN how WRB government NN taxes VBZ those DT assets NNS  . .
They PRP are VBP economists NNS and CC financial JJ reporters NNS who WP  sympathize VBP with IN the DT view NN that IN a DT capital-gains NNS tax NN cut NN benefits VBZ the DT rich JJ . .
Yet CC they PRP somehow RB think VBP that IN Wall NNP Street NNP is VBZ indifferent JJ to TO  losing VBG the DT tax NN cut NN that WDT  seemed VBD so RB close RB Friday NNP morning NN and CC is VBZ now RB problematic JJ . .
The DT market NN rebound NN Monday NNP followed VBD weekend NN assurances NNS  from IN Mr. NNP Darman NNP that IN the DT administration NN has VBZ other JJ plans NNS   to TO win VB the DT cut NN , , which WDT  is VBZ alive JJ and CC well RB  . .
Sen. NNP Bradley NNP 's POS argument NN is VBZ that IN a DT capital-gains NNS tax NN cut NN would MD be VB bad JJ for IN the DT economy NN in IN the DT longer JJR run NN . .
It PRP would MD inevitably RB lead VB to TO an DT increase NN in IN marginal JJ income-tax NN rates NNS in IN 1990 CD  , , he PRP thinks VBZ   , , when WRB the DT White NNP House NNP is VBZ forced VBN  to TO ask VB for IN higher JJR taxes NNS   to TO meet VB budget NN targets NNS   . .
That DT is VBZ , , with IN capital NN gains NNS cut VBN  , , the DT glue NN of IN the DT 1986 CD accord NN will MD be VB gone VBN , , and CC political JJ realities NNS will MD push VB up RP income-tax NN rates NNS . .
The DT counter-argument NN , , which WDT he PRP has VBZ heard VBN  , , is VBZ that IN if IN he PRP and CC his PRP$ fellow JJ Democrats NNP are VBP successful JJ in IN  killing VBG the DT president NN 's POS proposal NN , , the DT revenue NN gap NN will MD open VB up RP tremendously RB in IN 1990 CD because IN of IN the DT weakened JJ economy NN . .
In IN this DT atmosphere NN , , there EX would MD be VB no DT serious JJ consideration NN of IN tax NN increases NNS . .
If IN Sen. NNP Bradley NNP would MD permit VB a DT vote NN on IN capital NN gains NNS , , though RB , , it PRP would MD pass VB , , Christmas NNP retail JJ sales NNS would MD be VB strong JJ instead RB of IN burdened VBN by IN a DT falling VBG stock NN market NN , , the DT 1990 CD economy NN would MD be VB robust JJ , , and CC the DT revenue NN gains NNS at IN every DT level NN of IN government NN , , including VBG New NNP Jersey NNP 's POS , , would MD be VB surprisingly RB high JJ . .
No DT tax NN increases NNS would MD be VB necessary JJ . .
The DT struggle NN over IN capital NN gains NNS is VBZ the DT most RBS important JJ game NN in IN town NN . .
In IN Washington NNP and CC on IN Wall NNP Street NNP . .
Mr. NNP Wanniski NNP is VBZ president NN of IN Polyconomics NNP Inc. NNP , , of IN Morristown NNP , , N.J NNP . .
Federal JJ prosecutors NNS said VBD  they PRP have VBP obtained VBN a DT guilty JJ plea NN from IN another DT person NN in IN the DT government NN 's POS ongoing JJ probe NN of IN illegal JJ payments NNS in IN the DT record JJ industry NN . .
William NNP Craig NNP , , an DT independent JJ record NN promoter NN , , pleaded VBD guilty JJ to TO payola NN and CC criminal JJ tax NN charges NNS , , according VBG to TO a DT statement NN issued VBN  by IN Gary NNP Feess NNP , , the DT U.S. NNP attorney NN here RB . .
Payola NN is VBZ the DT practice NN of IN  making VBG illegal JJ , , undisclosed JJ payments NNS to TO radio NN station NN personnel NNS in IN return NN for IN  getting VBG the DT stations NNS to TO play VB certain JJ songs NNS over IN the DT air NN . .
As IN part NN of IN his PRP$ plea NN agreement NN with IN the DT government NN , , the DT 44-year-old JJ Mr. NNP Craig NNP faces VBZ a DT maximum NN of IN three CD years NNS in IN prison NN . .
In IN return NN , , Mr. NNP Craig NNP agreed VBD  to TO cooperate VB in IN the DT government NN 's POS continuing VBG payola NN probe NN , , says VBZ   a DT spokeswoman NN for IN the DT U.S. NNP attorney NN 's POS office NN . .
Mr. NNP Craig NNP and CC three CD others NNS were VBD indicted VBN  last JJ year NN as IN part NN of IN that DT payola NN probe NN . .
Two CD other JJ defendants NNS previously RB pleaded VBD guilty JJ , , and CC charges NNS against IN the DT third JJ were VBD dropped VBN  . .
Companies NNS listed VBN  below IN reported VBD quarterly JJ profit NN substantially RB different JJ from IN the DT average NN of IN analysts NNS ' POS estimates NNS . .
The DT companies NNS are VBP followed VBN  by IN at IN least JJS three CD analysts NNS , , and CC had VBD a DT minimum JJ five-cent JJ change NN in IN actual JJ earnings NNS per IN share NN . .
Estimated JJ and CC actual JJ results NNS involving VBG losses NNS are VBP omitted VBN  . .
The DT percent NN difference NN compares VBZ actual JJ profit NN with IN the DT 30-day JJ estimate NN where WRB at IN least JJS three CD analysts NNS have VBP issues NNS forecasts NNS in IN the DT past JJ 30 CD days NNS . .
Otherwise RB , , actual JJ profit NN is VBZ compared VBN  with IN the DT 300-day JJ estimate NN . .
Grumman NNP Corp. NNP was VBD awarded VBN  a DT $ $ 53.1 CD million CD  Navy NNP contract NN for IN advanced JJ acquisition NN of IN six CD E-2C NNP tactical JJ control NN aircraft NN . .
LTV NNP Corp. NNP won VBD a DT $ $ 25 CD million CD  Army NN contract NN for IN missile NN test NN equipment NN . .
Unisys NNP Corp. NNP received VBD a DT $ $ 24.4 CD million CD  Air NNP Force NNP contract NN for IN computer NN programming NN . .
Ford NNP Aerospace NNP & CC Communications NNP Corp. NNP , , a DT unit NN of IN Ford NNP Motor NNP Co. NNP , , was VBD awarded VBN  a DT $ $ 15.9 CD million CD  Air NNP Force NNP contract NN for IN computer NN improvements NNS . .
Rockwell NNP International NNP Corp. NNP was VBD issued VBN  a DT $ $ 12.5 CD million CD  Air NNP Force NNP contract NN for IN changes NNS in IN the DT National NNP Aerospace NNP Plane NNP . .
The DT Tennessee NNP Valley NNP Authority NNP issued VBD $ $ 4 CD billion CD  in IN bonds NNS in IN the DT federal JJ utility NN 's POS first JJ public JJ debt NN offering NN in IN 15 CD years NNS . .
Proceeds NNS from IN the DT bonds NNS , , with IN coupon NN rates NNS in IN the DT 8 CD % NN range NN , , will MD be VB used VBN  to TO replace VB bonds NNS with IN an DT average JJ interest NN rate NN of IN 13.1 CD % NN . .
The DT TVA NNP said VBD  the DT refinancing VBG should MD save VB $ $ 75 CD million CD  a DT year NN in IN interest NN payments NNS . .
The DT refinancing NN is VBZ part NN of IN the DT TVA NNP 's POS strategy NN of IN  dealing VBG with IN what WP  has VBZ been VBN an DT intractable JJ problem NN : : its PRP$ staggering JJ $ $ 18.5 CD billion CD  debt NN , , most JJS of IN which WDT  is VBZ owed VBN  to TO the DT Treasury NNP Department NNP 's POS Federal NNP Financing NNP Bank NNP . .
The DT TVA NNP currently RB plans VBZ  to TO issue VB a DT total NN of IN $ $ 6.7 CD billion CD  in IN bonds NNS  to TO refinance VB its PRP$ high-interest JJ debt NN . .
The DT $ $ 4 CD billion CD  bond NN issue NN also RB will MD help VB the DT TVA NNP meet VB its PRP$ goal NN of IN  not RB raising VBG rates NNS for IN another DT year NN , , said VBD   William NNP F. NNP Malec NNP , , the DT agency NN 's POS chief JJ financial JJ officer NN . .
The DT bond NN issue NN is VBZ TVA NNP 's POS first JJ public JJ offering NN since IN the DT Financing NNP Bank NNP was VBD created VBN  in IN 1974 CD , ,  primarily RB to TO finance VB the DT TVA NNP . .
But CC the DT offering NN almost RB did VBD n't RB happen VB . .
The DT TVA NNP , , in IN fact NN , , decided VBD  to TO proceed VB with IN the DT bond NN offering NN following VBG an DT agreement NN last JJ week NN with IN the DT Financing NNP Bank NNP , , which WDT  allows VBZ TVA NNP to TO keep VB borrowing VBG short JJ term NN from IN the DT bank NN for IN two CD years NNS after IN it PRP goes VBZ to TO the DT public JJ market NN . .
The DT Treasury NNP contended VBD that IN TVA NNP could MD n't RB borrow VB from IN both DT it PRP and CC the DT public JJ debt NN market NN . .
The DT $ $ 4 CD billion CD  in IN bonds NNS break VBP down RP as IN  follows VBZ : : $ $ 1 CD billion CD  in IN five-year JJ bonds NNS with IN a DT coupon NN rate NN of IN 8.25 CD % NN and CC a DT yield NN to TO maturity NN of IN 8.33 CD % NN ; : $ $ 1 CD billion CD  in IN 10-year JJ bonds NNS with IN a DT coupon NN rate NN of IN 8.375 CD % NN and CC a DT yield NN to TO maturity NN of IN 8.42 CD % NN ; : $ $ 2 CD billion CD  in IN 30-year JJ bonds NNS with IN five-year JJ call NN protection NN , , a DT coupon NN rate NN of IN 8.75 CD % NN and CC a DT yield NN to TO maturity NN of IN 9.06 CD % NN . .
Managing VBG the DT bond NN issue NN is VBZ  a DT group NN of IN investment NN banks NNS headed VBN  by IN First NNP Boston NNP Corp. NNP and CC co-managed VBN  by IN Goldman NNP , , Sachs NNP & CC Co. NNP , , Merrill NNP Lynch NNP Capital NNP Markets NNP , , Morgan NNP Stanley NNP & CC Co. NNP , , and CC Salomon NNP Brothers NNP Inc NNP . .
Mutual-fund NN czar NN John NNP M. NNP Templeton NNP has VBZ put VBN his PRP$ money NN where WRB his PRP$ moniker NN is VBZ  , ,  pouring VBG $ $ 1.4 CD million CD  into IN one CD of IN his PRP$ own JJ funds NNS , , the DT Templeton NNP Value NNP Fund NNP . .
Mr. NNP Templeton NNP owns VBZ shares NNS in IN several JJ of IN the DT 33 CD funds NNS that IN his PRP$ firm NN manages VBZ  , , but CC only RB in IN three CD of IN the DT 10 CD available JJ to TO U.S. NNP investors NNS , , according VBG to TO filings NNS with IN the DT Securities NNP and CC Exchange NNP Commission NNP . .
Those DT are VBP Templeton NNP Global NNP Income NNP , , Templeton NNP Emerging NNP Markets NNP and CC now RB the DT Value NNP Fund NNP . .
Why WRB did VBD he PRP add VB the DT Value NNP Fund NNP to TO the DT list NN  ? .
Because IN he PRP 's VBZ very RB bullish JJ on IN the DT emerging VBG growth NN stocks NNS that WDT  make VBP up RP the DT fund NN 's POS portfolio NN , , Mr. NNP Templeton NNP said VBD from IN his PRP$ Bahamas NNPS hideaway NN . .
`` `` Emerging VBG growth NN stocks NNS have VBP n't RB been VBN popular JJ in IN America NNP for IN years NNS , , they PRP 've VBP been VBN neglected VBN  , , '' '' he PRP said VBD   , , and CC their PRP$ prices NNS often RB trail VBP the DT market NN as IN a DT whole NN . .
Mr. NNP Templeton NNP 's POS 147,300-share JJ purchase NN in IN the DT closed-end JJ fund NN came VBD before IN the DT U.S. NNP stock NN market NN 's POS plunge NN last JJ Friday NNP , , but CC still RB proved VBD slightly RB profitable JJ . .
Mr. NNP Templeton NNP bought VBD his PRP$ shares NNS in IN several JJ separate JJ purchases NNS between IN Aug. NNP 30 CD and CC Sept. NNP 28 CD , , according VBG to TO reports NNS with IN the DT SEC NNP . .
He PRP bought VBD at IN share NN prices NNS ranging VBG from IN $ $ 9.375 CD  to TO $ $ 9.625 CD  . .
The DT fund NN closed VBD yesterday NN in IN New NNP York NNP Stock NNP Exchange NNP composite JJ trading NN at IN $ $ 9.625 CD  , , up RB 12.5 CD cents NNS . .
In IN addition NN , , Mr. NNP Templeton NNP received VBD a DT dividend NN of IN 22 CD cents NNS a DT share NN Oct. NNP 5 CD . .
RIVER NNP RUN NNP : :
A DT senior JJ vice NN president NN and CC a DT vice NN president NN at IN James NNP River NNP Corp. NNP sold VBD the DT majority NN of IN their PRP$ shares NNS in IN the DT Richmond NNP , , Va. NNP , , paper-products NNS concern NN in IN late JJ August NNP and CC early JJ September NNP , , reports NNS filed VBN  with IN the DT SEC NNP show VBP   . .
The DT executives NNS , , who WP  got VBD $ $ 30.88 CD  a DT share NN for IN the DT stock NN , , showed VBD good JJ timing NN . .
In IN Big NNP Board NNP trading NN yesterday NN , , James NNP River NNP shares NNS closed VBD at IN $ $ 28.375 CD  , , down RB 12.5 CD cents NNS . .
On IN Sept. NNP 6 CD , , Robert NNP Joseph NNP Sherry NNP , , the DT firm NN 's POS senior JJ vice NN president NN of IN employee NN and CC public JJ relations NNS , , sold VBD 4,000 CD shares NNS , ,  leaving VBG himself PRP with IN 1,062 CD shares NNS of IN James NNP River NNP . .
Including VBG a DT sale NN of IN stock NN last JJ February NNP , , Mr. NNP Sherry NNP has VBZ sold VBN 88 CD % NN of IN his PRP$ stake NN in IN the DT company NN this DT year NN , , according VBG to TO SEC NNP filings NNS . .
Mr. NNP Sherry NNP declined VBD  to TO comment VB when WRB  asked VBN about IN the DT sales NNS  . .
James NNP A. NN Toney NNP , , a DT vice NN president NN , , sold VBD 1,500 CD shares NNS Aug. NNP 28 CD . .
He PRP still RB has VBZ 1,143 CD shares NNS , , according VBG to TO SEC NNP files NNS . .
Mr. NNP Toney NNP also RB declined VBD  to TO comment VB . .
INTEREST-RATE NN PLAYER NNP : :
Cincinnati NNP Gas NNP & CC Electric NNP Co. NNP tops VBZ the DT companies NNS portion NN of IN the DT accompanying JJ Insider NNP Trading NNP table NN this DT week NN . .
Three CD of IN the DT utility NN 's POS directors NNS have VBP at IN least JJS doubled VBD their PRP$ holdings NNS in IN the DT company NN since IN July NNP . .
The DT largest JJS purchase NN was VBD by IN Dudley NNP Taft NNP , , who WP  bought VBD 4,400 CD shares NNS for IN $ $ 125,075 CD  . .
Mr. NNP Taft NNP , , who WP  is VBZ also RB president NN of IN Taft NNP Broadcasting NNP Co. NNP , , said VBD  he PRP bought VBD the DT shares NNS because IN he PRP keeps VBZ a DT utility NN account NN at IN the DT brokerage NN firm NN of IN Salomon NNP Brothers NNP Inc. NNP , , which WDT  had VBD recommended VBN the DT stock NN as IN a DT good JJ buy NN . .
Salomon NNP Brothers NNP confirmed VBD that IN it PRP has VBZ had VBN a DT buy JJ recommendation NN on IN the DT stock NN for IN about RB two CD years NNS . .
`` `` Cincinnati NNP Gas NNP & CC Electric NNP is VBZ in IN good JJ shape NN , , '' '' Mr. NNP Taft NNP said VBD   , , and CC utilities NNS are VBP `` `` a DT good JJ investment NN because IN interest NN rates NNS are VBP going VBG down RB . . '' ''
Mr. NNP Taft NNP paid VBD an DT average NN of IN $ $ 28.43 CD  for IN each DT share NN . .
The DT stock NN closed VBD yesterday NN on IN the DT Big NNP Board NNP at IN $ $ 28.75 CD  , , down RB 12.5 CD cents NNS . .
The DT two CD other JJ directors NNS bought VBD 1,000 CD and CC 1,900 CD shares NNS , , respectively RB , , at IN prices NNS between IN $ $ 28.15 CD  a DT share NN and CC $ $ 28.75 CD  a DT share NN , , filings NNS with IN the DT SEC NNP show NN   . .
The DT two CD could MD n't RB be VB reached VBN  for IN comment NN . .
A DT company NN spokesman NN said VBD  he PRP could MD n't RB explain VB their PRP$ sudden JJ bullishness NN . .
`` `` I PRP do VBP n't RB know VB of IN any DT news NN or CC anything NN unusual JJ happening VBG here RB , , '' '' said VBD  Bruce NNP Stoecklin NNP , , director NN of IN media NNS services NNS . .
Peter NNP Pae NNP in IN Pittsburgh NNP contributed VBD to TO this DT article NN . .
T. NNP Rowe NNP Price NNP Associates NNP Inc. NNP said VBD  directors NNS recommended VBD  stockholders NNS approve VB a DT 2-for-1 JJ stock NN split NN and CC an DT increase NN in IN authorized JJ shares NNS to TO 25 CD million CD from IN 10 CD million CD . .
Stockholders NNS will MD vote VB on IN the DT proposal NN at IN a DT meeting NN Dec. NNP 13 CD . .
T. NNP Rowe NNP Price NNP is VBZ an DT investment NN adviser NN to TO mutual JJ funds NNS , , institutions NNS and CC individuals NNS . .
In IN one CD of IN the DT first JJ indoor JJ air-pollution NN cases NNS   to TO go VB to TO trial NN , , a DT state-court NN jury NN decided VBD in IN favor NN of IN the DT defendant NN , , Burlington NNP Industries NNP Inc NNP . .
The DT verdict NN , , reached VBN  late JJ last JJ week NN in IN Cincinnati NNS , , may MD end VB an DT eight-year JJ legal JJ battle NN for IN the DT Greensboro NNP , , N.C. NNP , , carpet NN maker NN . .
Glenn NNP and CC Sharon NNP Beebe NNP of IN Cincinnati NNP had VBD sued VBN the DT com NN - : pany NN in IN 1981 CD after IN  installing VBG Burlington NNP carpets NNS in IN their PRP$ office NN . .
The DT Beebes NNPS alleged VBD that IN toxic JJ fumes NNS from IN the DT carpets NNS made VBD them PRP sick JJ . .
As IN a DT result NN of IN their PRP$ illness NN , , the DT Beebes NNPS said VBD   , , they PRP lost VBD $ $ 1.8 CD million CD  in IN wages NNS and CC earnings NNS . .
In IN addition NN , , they PRP said VBD that IN months NNS of IN exposure NN to TO the DT chemicals NNS has VBZ left VBN them PRP sensitive JJ to TO a DT wide JJ range NN of IN commonly RB used VBN substances NNS . .
The DT case NN had VBD been VBN closely RB watched VBN  because IN attorneys NNS anticipate VBP increasing JJ litigation NN nationally RB over IN the DT so-called JJ sick-building JJ syndrome NN . .
Plaintiffs NNS ' POS lawyers NNS say VBP that IN buildings NNS become VBP `` `` sick JJ '' '' when WRB inadequate JJ fresh JJ air NN and CC poor JJ ventilation NN systems NNS lead VBP pollutants NNS to TO build VB up RP inside RB  . .
Anthony NNP J. NNP Iaciofano NNP , , a DT lawyer NN for IN Burlington NNP , , said VBD  the DT company NN believes VBZ  the DT Beebes NNPS ' POS symptoms NNS were VBD not RB related VBN to TO the DT carpeting NN . .
He PRP said VBD that IN ill JJ effects NNS from IN new JJ carpets NNS manifest VBP themselves PRP immediately RB but CC that IN the DT Beebes NNPS ' POS symptoms NNS appeared VBD months NNS later RB . .
Catherine NNP Adams NNP , , the DT Beebes NNPS ' POS lawyer NN , , said VBD  the DT verdict NN would MD not RB discourage VB other JJ plaintiffs NNS from IN  filing VBG such JJ suits NNS . .
Scientists NNS are VBP only RB beginning VBG  to TO understand VB what WP  causes VBZ sick-building JJ syndrome NN and CC much JJ of IN that DT research NN was VBD unavailable JJ when WRB the DT Beebes NNPS filed VBD the DT case NN  , , she PRP said VBD   . .
The DT Beebes NNPS now RB believe VBP that IN a DT prime JJ culprit NN for IN their PRP$ injuries NNS was VBD fumes NNS from IN an DT adhesive NN used VBN  in IN the DT carpeting NN . .
But CC the DT Beebes NNPS did VBD n't RB come VBN to TO that DT conclusion NN until IN time NN limits NNS  had VBD elapsed VBN for IN  adding VBG the DT adhesives NNS maker NN as IN a DT defendant NN in IN the DT case NN , , Ms. NNP Adams NNP said VBD   . .
The DT Beebes NNPS have VBP not RB yet RB decided VBN whether IN  to TO appeal VB . .
TIMES NNP SQUARE NNP development NN opponents NNS are VBP dealt VBN  setback NN . .
The DT Appellate NNP Division NNP of IN New NNP York NNP State NNP Supreme NNP Court NNP dismissed VBD six CD lawsuits NNS attempting VBG  to TO block VB a DT $ $ 2.5 CD billion CD  project NN planned VBN  for IN 42nd NNP Street NNP in IN Manhattan NNP . .
Opponents NNS of IN the DT project NN had VBD claimed VBN that IN the DT city NN and CC the DT state NN of IN New NNP York NNP , , which WDT  are VBP co-sponsoring JJ the DT project NN , , had VBD failed VBN  to TO adhere VB to TO environmental JJ guidelines NNS . .
All DT but IN two CD of IN the DT 40 CD or CC so RB lawsuits NNS that WDT  have VBP been VBN filed VBN  since IN the DT project NN 's POS 1984 CD approval NN have VBP been VBN dismissed VBN  before IN the DT trial NN stage NN . .
The DT two CD that WDT  remain VBP have VBP n't RB yet RB reached VBN the DT pre-trial JJ fact-finding JJ stage NN . .
State NN officials NNS said VBD  the DT court NN 's POS ruling NN clears VBZ the DT way NN for IN proceedings NNS   to TO condemn VB buildings NNS in IN the DT area NN . .
`` `` This DT project NN is VBZ ready JJ  to TO move VB , , '' '' said VBD  State NNP Urban NNP Development NNP Corp. NNP Chairman NNP Vincent NNP Tese NNP . .
But CC developers NNS of IN four CD planned JJ office NN towers NNS cautioned VBD that IN obstacles NNS still RB remain VBP . .
As IN part NN of IN the DT agreement NN with IN the DT state NN , , the DT developers NNS -- : a DT partnership NN of IN Park NNP Tower NNP Realty NNP and CC Prudential NNP Insurance NNP Co. NNP of IN America NNP -- : said VBD  they PRP would MD not RB proceed VB with IN condemnation NN proceedings NNS while IN there EX was VBD `` `` significant JJ litigation NN '' '' pending VBG . .
Park NNP Tower NNP General NNP Counsel NNP Matthew NNP Mayer NNP said VBD  the DT development NN team NN will MD have VB  to TO review VB two CD additional JJ lawsuits NNS before IN  putting VBG up RP a DT $ $ 155 CD million CD  letter NN of IN credit NN   to TO cover VB condemnation NN costs NNS . .
Also RB , , he PRP said VBD   , , the DT partnership NN is VBZ waiting VBG  to TO see VB whether IN the DT appellate JJ division NN 's POS ruling NN will MD be VB appealed VBN  . .
The DT plan NN , , which WDT  has VBZ been VBN plagued VBN  with IN delays NNS and CC business-related JJ setbacks NNS , , seeks VBZ  to TO transform VB the DT area NN from IN a DT seedy JJ thoroughfare NN to TO a DT more RBR wholesome JJ office NN and CC theater NN district NN . .
State NN and CC city NN officials NNS are VBP still RB negotiating VBG with IN developers NNS  to TO renovate VB historic JJ theaters NNS and CC build VB and CC operate VB a DT merchandise NN mart NN and CC hotel NN . .
FEDERAL JJ JUDGE NN EXPANDS VBZ role NN of IN U.S. NNP courts NNS in IN extradition NN decisions NNS . .
U.S. NNP District NNP Judge NNP Jack NNP B. NNP Weinstein NNP of IN Brooklyn NNP , , N.Y. NNP , , ruled VBD that IN a DT man NN implicated VBN  in IN an DT attack NN on IN an DT Israeli JJ passenger NN bus NN in IN 1986 CD can MD be VB extradited VBN  to TO Israel NNP for IN trial NN . .
A DT magistrate NN had VBD initially RB refused VBN the DT request NN , ,  ruling VBG that IN the DT attack NN had VBD been VBN a DT political JJ act NN for IN which WDT the DT man NN , , Mahmoud NNP El-Abed NNP Ahmad NNP , , would MD be VB exempt JJ from IN extradition NN  . .
However RB , , Judge NNP Weinstein NNP wrote VBD in IN his PRP$ opinion NN late RB last JJ month NN that DT terrorism NN and CC acts NNS of IN war NN against IN civilians NNS can MD not RB be VB defined VBN  as IN political JJ acts NNS . .
Judge NNP Weinstein NNP also RB ruled VBD that IN judges NNS must MD consider VB prior RB to TO extradition NN whether IN the DT defendant NN will MD be VB treated VBN  fairly RB in IN a DT foreign JJ court NN . .
 To TO do VB so RB , , the DT judge NN said VBD   , , the DT U.S. NNP courts NNS must MD review VB the DT judicial JJ process NN in IN the DT foreign JJ country NN independently RB of IN the DT State NNP Department NNP 's POS assessment NN . .
He PRP said VBD that IN in IN this DT case NN he PRP concurred VBD with IN the DT State NNP Department NNP 's POS decision NN that IN Mr. NNP Ahmad NNP should MD be VB extradited VBN  . .
Mr. NNP Ahmad NNP 's POS lawyer NN said VBD  he PRP would MD appeal VB . .
Lawyers NNS close RB to TO the DT case NN said VBD  they PRP believed VBD  the DT ruling NN was VBD unprecedented JJ . .
`` `` Up IN until IN now RB the DT courts NNS have VBP said VBN  it PRP  is VBZ not RB their PRP$ role NN  to TO supervise VB the DT foreign JJ country NN 's POS courts NNS , , '' '' said VBD  Jacques NNP Semmelman NNP , , the DT assistant JJ U.S. NNP attorney NN on IN the DT case NN . .
FORMER JJ CANADIAN JJ AMBASSADOR NN to TO the DT U.S. NNP Allan NNP E. NNP Gotlieb NNP has VBZ joined VBN the DT Philadelphia NNP law NN firm NN of IN Pepper NNP , , Hamilton NNP & CC Scheetz NNP as IN a DT consultant NN . .
Mr. NNP Gotlieb NNP , , who WP  serves VBZ as IN a DT consultant NN to TO Stikeman NNP , , Elliott NNP , , one CD of IN Canada NNP 's POS biggest JJS law NN firms NNS , , is VBZ advising VBG Pepper NNP Hamilton NNP 's POS Washington NNP office NN on IN legal JJ matters NNS related VBN to TO Canadian-U.S. JJ investment NN , , corporate JJ finance NN and CC international JJ transactions NNS . .
QUOTABLE JJ : :
In IN a DT speech NN prepared VBN  for IN delivery NN in IN New NNP York NNP yesterday NN , , retired JJ Justice NNP Lewis NNP Powell NNP contested VBD the DT notion NN that IN the DT last JJ Supreme NNP Court NNP term NN marked VBD a DT turn NN toward IN conservatism NN : : `` `` Commentators NNS who WP  agreed VBD on IN little JJ else RB unanimously RB proclaimed VBD a DT ` `` shift NN in IN direction NN ' '' on IN the DT court NN ... : . .
I PRP take VBP these DT pronouncements NNS , , like IN many JJ that WDT  have VBP preceded VBN them PRP in IN past JJ years NNS , , with IN a DT grain NN of IN salt NN . .
In IN an DT era NN of IN ` `` sound NN bites NNS ' POS and CC instant JJ opinion NN polls VBZ it PRP  is VBZ dangerous JJ  to TO apply VB broad JJ labels NNS to TO a DT single JJ term NN . .
-LRB- -LRB- During IN its PRP$ centennial JJ year NN , , The DT Wall NNP Street NNP Journal NNP will MD report VB events NNS of IN the DT past JJ century NN that DT  stand NN as IN milestones NNS of IN American JJ business NN history NN . . -RRB- -RRB-
THE DT YOM NNP KIPPUR NNP WAR NNP , , WHEN WRB EGYPT NNP CRASHED VBD into IN Israel NNP on IN Oct. NNP 6 CD , , 1973 CD , , the DT holiest JJS day NN in IN the DT Jewish JJ calendar NN  , , lasted VBD barely RB a DT month NN . .
But CC one CD far-afield JJ effect NN is VBZ still RB with IN us PRP . .
The DT Arab JJ states NNS , , always RB bitterly RB resentful JJ of IN U.S. NNP support NN toward IN Israel NNP , , realized VBD  they PRP held VBD an DT irresistable JJ weapon NN -- : oil NN . .
Early RB in IN October NNP , , six CD Arab JJ nations NNS in IN the DT Persian NNP Gulf NNP jacked VBD up RP prices NNS sharply RB . .
On IN Oct. NNP 22 CD , ,  led VBN  by IN Saudi NNP Arabia NNP , , the DT world NN 's POS largest JJS exporter NN , , they PRP embargoed VBD oil NN shipments NNS to TO the DT U.S. NNP and CC to TO the DT Netherlands NNPS , , Israel NNP 's POS staunchest JJS European JJ ally NN . .
The DT timing NN was VBD perfect JJ . .
The DT Arabs NNPS had VBD tried VBN embargos NNS before RB . .
In IN 1956 CD , , when WRB Britain NNP , , France NNP and CC Israel NNP invaded VBD Egypt NNP  to TO seize VB the DT Suez NNP Canal NNP  , , Arab JJ producers NNS cut VBD off RP supplies NNS to TO Europe NNP . .
Texas NNP simply RB pumped VBD harder RBR . .
U.S. NNP oil NN supplies NNS , , however RB , , had VBD peaked VBN in IN 1970 CD and CC 1971 CD and CC by IN 1973 CD were VBD declining VBG . .
Imports NNS , , then RB six CD million CD barrels NNS a DT day NN , , came VBD primarily RB from IN Venezuela NNP and CC Canada NNP . .
But CC Middle NNP East NNP supplies NNS were VBD growing VBG in IN importance NN . .
By IN 1973 CD , , the DT U.S. NNP was VBD bringing VBG in RP two CD million CD barrels NNS of IN Arab JJ oil NN a DT day NN , , more JJR than IN 10 CD % NN of IN the DT 17.3 CD million CD barrels NNS consumed VBN  daily RB . .
Politics NNS and CC economics NNS conspired VBD . .
Japan NNP and CC Europe NNP , , far RB more RBR dependent JJ on IN Mideast JJ oil NN than IN the DT U.S. NNP , , would MD n't RB offend VB the DT Arabs NNPS or CC trade VB off RP their PRP$ precious JJ supplies NNS . .
The DT U.S. NNP did VBD manage VB  to TO supply VB the DT Dutch NNPS with IN oil NN by IN  relabeling VBG supplies NNS ; : once IN oil NN is VBZ shipped VBN  , , no DT one NN can MD tell VB its PRP$ source NN . .
But CC car-happy JJ Americans NNPS panicked VBD , , and CC so RB did VBD  the DT U.S. NNP and CC other JJ oil-consuming JJ governments NNS . .
`` `` Shortage NN '' '' and CC `` `` crisis NN '' '' became VBD buzz JJ words NNS , , although IN neither DT really RB applied VBD . .
The DT spot JJ dislocations NNS that WDT  showed VBD up RP were VBD largely RB the DT result NN of IN confusion NN -LRB- -LRB- much JJ of IN it PRP in IN Washington NNP -RRB- -RRB- , , though IN that DT was VBD cold JJ comfort NN for IN drivers NNS waiting VBG in IN mile-long JJ lines NNS at IN the DT gas NN pumps NNS . .
The DT embargo NN lasted VBD only RB six CD months NNS , , but CC the DT price NN hikes NNS became VBD a DT fact NN of IN life NN . .
What WP the DT Arabs NNPS started VBD  , , inflation NN finished VBD  . .
Once RB and CC for IN all DT , , $ $ 5-a-barrel JJ  crude JJ oil NN and CC 35-cents-a-gallon JJ gasoline NN were VBD history NN . .
Times NNP may MD be VB tough JJ on IN Wall NNP Street NNP for IN some DT , , but CC a DT few JJ bosses NNS are VBP making VBG as RB much JJ as IN ever RB -- : or CC more JJR . .
At IN Bear NNP Stearns NNP Cos. NNP , , for IN example NN , , the DT 15 CD executive JJ officers NNS led VBN  by IN Chairman NNP Alan NNP `` `` Ace NNP '' '' Greenberg NNP got VBD a DT pay NN increase NN to TO $ $ 35.9 CD million CD  for IN the DT 14-month JJ period NN ended VBN June NNP 30 CD from IN $ $ 22.9 CD million CD  for IN the DT 12 CD months NNS ended VBN April NNP 30 CD , , 1988 CD . .
The DT figures NNS do VBP n't RB include VB substantial JJ dividends NNS on IN holdings NNS of IN Bear NNP Stearns NNP stock NN . .
Mr. NNP Greenberg NNP himself PRP was VBD paid VBN  $ $ 4.5 CD million CD   , , before IN an DT estimated JJ $ $ 1.5 CD million CD  in IN dividends NNS , , up RB from IN $ $ 2.4 CD million CD  the DT year NN before RB . .
The DT increase NN is VBZ noted VBN  in IN the DT brokerage NN firm NN 's POS latest JJS proxy JJ statement NN filed VBN  with IN the DT Securities NNP and CC Exchange NNP Commission NNP . .
Because IN it PRP operates VBZ on IN a DT fiscal JJ year NN , , Bear NNP Stearns NNP 's POS yearly JJ filings NNS are VBP available JJ much RB earlier RBR than IN those DT of IN other JJ firms NNS . .
The DT latest JJS period NN includes VBZ 14 CD months NNS instead RB of IN 12 CD because IN Bear NNP Stearns NNP changed VBD to TO a DT fiscal JJ year NN ending VBG in IN June NNP instead RB of IN April NNP . .
Meanwhile RB , , Bear NNP Stearns NNP 's POS 650 CD stock NN and CC bond NN salesmen NNS saw VBD thinner JJR paychecks NNS over IN the DT past NN year NN , , which WDT the DT company NN says VBZ   reflected VBD lower JJR commission NN revenue NN caused VBN  by IN a DT decline NN in IN investor NN activity NN in IN the DT markets NNS . .
However RB , , Bear NNP Stearns NNP on IN Monday NNP reported VBD improved JJ earnings NNS for IN its PRP$ first JJ quarter NN , , ended VBN Sept. NNP 29 CD , , partly RB because IN of IN a DT 31 CD % NN increase NN in IN commissions NNS during IN the DT quarter NN . .
William NNP J. NNP Montgoris NNP , , chief JJ financial JJ officer NN , , defended VBD the DT lofty JJ salaries NNS at IN Bear NNP Stearns NNP . .
`` `` All DT of IN us PRP are VBP on IN a DT base JJ salary NN of IN $ $ 200,000 CD  if IN the DT firm NN makes VBZ nothing NN -- : and CC that DT 's VBZ pretty RB low JJ as RB far RB as IN Wall NNP Street NNP goes VBZ  , , '' '' Mr. NNP Montgoris NNP said VBD  . .
However RB , , Bear NNP Stearns NNP has VBZ never RB had VBD an DT unprofitable JJ year NN since IN its PRP$ founding NN 65 CD years NNS ago RB . .
Four CD Bear NNP Stearns NNP executives NNS besides IN the DT 62-year-old JJ Mr. NNP Greenberg NNP were VBD paid VBN  $ $ 3 CD million CD  or CC more JJR before IN dividends NNS for IN the DT 14 CD months NNS ended VBN in IN June NNP . .
According VBG to TO the DT proxy JJ statement NN , , James NNP E. NNP Cayne NNP , , 55 CD , , Bear NNP Stearns NNP 's POS president NN , , made VBD $ $ 3.9 CD million CD  ; : an DT executive JJ vice NN president NN , , Michael NNP L. NNP Tarnopol NNP , , 53 CD , , made VBD nearly RB $ $ 3.4 CD million CD  ; : and CC two CD executive JJ vice NN presidents NNS , , Vincent NNP J. NNP Mattone NNP , , 44 CD , , and CC William NNP J. NNP Michaelcheck NNP , , 42 CD , , made VBN about RB $ $ 3.3 CD million CD  each DT . .
Mr. NNP Montgoris NNP said VBD  the DT firm NN has VBZ a DT `` `` straight JJ mathematical JJ formula NN '' '' for IN  determining VBG compensation NN , , based VBN on IN the DT firm NN 's POS earnings NNS . .
`` `` Just RB because IN a DT particular JJ element NN of IN the DT firm NN  is VBZ down RB , , '' '' such JJ as IN stockbrokerage NN , , `` `` does VBZ n't RB mean VB  the DT executive JJ committee NN should MD be VB paid VBN  less JJR , , '' '' he PRP said VBD  . .
Morgan NNP Grenfell NNP Group NNP PLC NNP said VBD  John NNP Craven NNP , , group NN chief NN executive NN officer NN , , is VBZ taking VBG over RB the DT chairmanship NN of IN the DT merchant NN banking VBG group NN from IN Sir NNP Peter NNP Carey NNP , , who WP  is VBZ retiring VBG . .
Mr. NNP Carey NNP will MD remain VB a DT member NN of IN the DT merchant NN bank NN 's POS board NN . .
Mr. NNP Craven NNP is VBZ widely RB credited VBN  with IN  refocusing NN Morgan NNP Grenfell NNP 's POS energies NNS on IN its PRP$ core NN corporate JJ finance NN , , fund NN management NN and CC banking VBG activities NNS over IN the DT past JJ year NN . .
Last JJ year NN , , Morgan NNP Grenfell NNP shut VBD down RB its PRP$ ailing VBG U.K. NN securities NNS operations NNS . .
Mr. NNP Craven NNP said VBD  his PRP$ move NN to TO the DT chairmanship NN means VBZ  he PRP will MD take VB a DT less RBR active JJ role NN in IN the DT day-to-day JJ management NN of IN the DT group NN , , but CC he PRP added VBD that IN the DT merchant NN bank NN 's POS strategic JJ focus NN remains VBZ unchanged JJ . .
Mr. NNP Craven NNP joined VBD Morgan NNP Grenfell NNP as IN group NN chief NN executive NN in IN May NNP 1987 CD , , a DT few JJ months NNS after IN the DT resignations NNS of IN former JJ Chief NNP Executive NNP Christopher NNP Reeves NNP and CC other JJ top JJ officials NNS because IN of IN the DT merchant NN bank NN 's POS role NN in IN Guinness NNP PLC NNP 's POS controversial JJ takeover NN of IN Distiller NN 's POS Co. NN in IN 1986 CD . .
Morgan NNP Grenfell NNP had VBD advised VBN Guinness NNP on IN the DT bid NN , , which WDT  was VBD surrounded VBN  by IN allegations NNS that IN Guinness NNP used VBD artificial NN means NNS  to TO support VB the DT bid NN 's POS value NN . .
Morgan NNP Grenfell NNP said VBD  Michael NNP Dobson NNP , , currently RB group NN deputy NN chief NN executive NN , , will MD assume VB the DT chief JJ executive NN position NN . .
The DT merchant NN bank NN also RB announced VBD that IN finance NN director NN David NNP Eward NNP is VBZ taking VBG early JJ retirement NN for IN personal NN reasons NNS . .
His PRP$ duties NNS will MD be VB taken VBN  over RP by IN Anthony NNP Richmond-Watson NNP , , who WP  has VBZ been VBN elected VBN  deputy JJ chairman NN . .
News NNP of IN Mr. NNP Eward NNP 's POS retirement NN comes VBZ one CD day NN after IN Morgan NNP said VBD that IN Christopher NNP Whittington NNP resigned VBD as IN chairman NN of IN Morgan NNP 's POS banking VBG subsidiary NN  to TO join VB a DT financial JJ services NNS firm JJ . .
Mr. NNP Craven NNP said VBD  both DT Messrs. NNP Eward NNP and CC Whittington NNP had VBD planned VBN  to TO leave VB the DT bank NN earlier RB , , but CC Mr. NNP Craven NNP had VBD persuaded VBN them PRP  to TO remain VB until IN the DT bank NN was VBD in IN a DT healthy JJ position NN . .
`` `` If IN there EX 's VBZ any DT coincidence NN about IN the DT departures NNS it PRP 's POS that IN they PRP are VBP leaving VBG at IN a DT time NN when WRB the DT business NN is VBZ in IN reasonably RB good JJ shape NN and CC going VBG forward RB very RB well RB  . . '' ''
Last JJ month NN , , Morgan NNP Grenfell NNP announced VBD  its PRP$ pretax NN profit NN rose VBD 49.6 CD % NN to TO # # 32.8 CD million CD  in IN the DT first JJ half NN , ,  boosted VBN  by IN a DT healthy JJ growth NN in IN its PRP$ domestic JJ and CC international JJ corporate JJ finance NN business NN . .
The DT following JJ were VBD among IN yesterday NN 's POS offerings NNS and CC pricings NNS in IN the DT U.S. NNP and CC non-U.S. JJ capital NN markets NNS , , with IN terms NNS and CC syndicate NN manager NN , , as IN  compiled VBN  by IN Dow NNP Jones NNP Capital NNP Markets NNP Report NNP : :
Lockheed NNP Corp. NNP -- : $ $ 300 CD million CD  of IN 9 CD 3\/8 CD % NN notes NNS due JJ Oct. NNP 15 CD , , 1999 CD , , priced VBN  at IN 99.90 CD  to TO yield VB 9.39 CD % NN . .
The DT issue NN was VBD priced VBN  at IN a DT spread NN of IN 137.5 CD basis NN points NNS above IN the DT Treasury NNP 's POS 10-year JJ note NN . .
 Rated VBN  single-A-3 JJ by IN Moody NNP 's POS Investors NNP Service NNP Inc. NNP and CC single-A JJ by IN Standard NNP & CC Poor NNP 's POS Corp. NNP , , the DT issue NN will MD be VB sold VBN  through IN underwriters NNS led VBN  by IN Goldman NNP , , Sachs NNP & CC Co NNP . .
California NNP Health NNP Facilities NNP Financing NNP Authority NNP -- : $ $ 144.35 CD million CD  of IN revenue NN bonds NNS for IN Kaiser NNP Permanente NNP , , due JJ 19931999 CD , , 2004 CD , , 2008 CD , , 2018 CD and CC 2019 CD , , tentatively RB priced VBN  by IN a DT PaineWebber NNP Inc. NNP group NN  to TO yield VB from IN 6.25 CD % NN in IN 1993 CD to TO 7.227 CD % NN in IN 2018 CD . .
Serial JJ bonds NNS were VBD priced VBN   to TO yield VB to TO 6.80 CD % NN in IN 1999 CD . .
There EX are VBP about RB $ $ 10 CD million CD  of IN 7 CD % NN bonds NNS priced VBN  at IN 99 CD 1\/4 CD  to TO yield VB 7.081 CD % NN in IN 2004 CD ; : about RB $ $ 15 CD million CD  of IN 7 CD % NN bonds NNS priced VBN  at IN 98 CD 1\/2 CD  to TO yield VB 7.145 CD % NN in IN 2008 CD ; : about RB $ $ 88.35 CD million CD  of IN 7 CD % NN bonds NNS priced VBN  at IN 97 CD 1\/4 CD  to TO yield VB 7.227 CD % NN in IN 2018 CD ; : and CC about RB $ $ 15 CD million CD  of IN 6 CD 3\/4 CD % NN bonds NNS priced VBN   to TO yield VB 7.15 CD % NN in IN 2019 CD . .
The DT bonds NNS are VBP rated VBN  double-A-2 JJ by IN Moody NNP 's POS and CC double-A JJ by IN S&P NNP , , according VBG to TO the DT lead JJ underwriter NN . .
Pennsylvania NNP Higher NNP Education NNP Facilities NNP Authority NNP -- : approximately RB $ $ 117 CD million CD  of IN revenue NN bonds NNS for IN Hahnemann NNP University NNP , , Series NNP 1989 CD , , due JJ 1990-2002 CD , , 2009 CD and CC 2019 CD , , priced VBN  late RB Monday NNP by IN a DT Merrill NNP Lynch NNP Capital NNP Markets NNP group NN  to TO yield VB from IN 6 CD % NN in IN 1990 CD to TO 7.282 CD % NN in IN 2019 CD . .
Serial JJ bonds NNS were VBD priced VBN   to TO yield VB from IN 6 CD % NN in IN 1990 CD to TO 7.10 CD % NN in IN 2002 CD . .
There EX are VBP about RB $ $ 25.6 CD million CD  of IN 7.2 CD % NN term NN bonds NNS due JJ 2009 CD , , priced VBN   to TO yield VB 7.25 CD % NN , , and CC about RB $ $ 66.8 CD million CD  of IN 7.2 CD % NN term NN bonds NNS due JJ 2019 CD , , priced VBN  at IN 99 CD  to TO yield VB 7.282 CD % NN . .
The DT bonds NNS are VBP insured VBN   and CC rated VBN  triple-A JJ  by IN Moody NNP 's POS and CC S&P NNP . .
Connecticut NNP -- : $ $ 100.4 CD million CD  of IN general JJ obligation NN capital NN appreciation NN bonds NNS , , College NNP Savings NNP Plan NNP , , 1989 CD Series NNP B NNP , , priced VBN  by IN a DT Prudential-Bache NNP Capital NNP Funding NNP group NN . .
The DT zero-coupon JJ bonds NNS were VBD priced VBN   to TO yield VB to TO maturity NN from IN 6.25 CD % NN in IN 1994 CD to TO 6.90 CD % NN in IN 2006 CD , , 2007 CD and CC 2009 CD . .
The DT bonds NNS have VBP received VBN a DT rating NN of IN double-A-1 JJ from IN Moody NNP 's POS , , and CC a DT double-A-plus JJ rating NN is VBZ expected VBN  from IN S&P NNP , , the DT underwriter NN said VBD   . .
Oregon NNP -- : $ $ 100 CD million CD  of IN general JJ obligation NN veterans NNS ' POS tax NN notes NNS , , Series NNP 1989 CD , , dated VBN  Nov. NNP 1 CD , , 1989 CD , , and CC due JJ Nov. NNP 1 CD , , 1990 CD , , through IN a DT Chemical NNP Securities NNP Inc. NNP group NN . .
The DT group NN is VBZ offering VBG the DT notes NNS priced VBN  as IN 6 CD 3\/4 CD % NN securities NNS  to TO yield VB 6.25 CD % NN . .
The DT notes NNS are VBP rated VBN  MIG-1 JJ by IN Moody NN 's POS and CC SP1-plus JJ by IN S&P NNP . .
University NNP of IN Medicine NNP and CC Dentistry NNP of IN New NNP Jersey NNP -- : $ $ 55.8 CD million CD  of IN Series NNP C NNP bonds NNS priced VBN  by IN a DT Prudential-Bache NNP Capital NNP Funding NNP group NN . .
The DT bonds NNS , , rated VBN  single-A JJ by IN Moody NNP 's POS and CC double-A JJ by IN S&P NNP , , were VBD priced VBN   to TO yield VB from IN 6.20 CD % NN in IN 1992 CD to TO 7.26 CD % NN in IN 2019 CD . .
All DT serial JJ bonds NNS  are VBP being VBG offered VBN  at IN par NN except IN those DT due JJ 2002 CD . .
Federal NNP Home NNP Loan NNP Mortgage NNP Corp. NNP -- : $ $ 500 CD million CD  of IN Remic NNP mortgage NN securities NNS being VBG offered VBN in IN eight CD classes NNS by IN Salomon NNP Brothers NNP Inc NNP . .
The DT offering NN , , Series NNP 104 CD , , is VBZ backed VBN  by IN Freddie NNP Mac NNP 9 CD % NN securities NNS . .
The DT issue NN used VBD at-market JJ pricing NN . .
Federal NNP National NNP Mortgage NNP Association NNP -- : $ $ 350 CD million CD  of IN Remic NNP mortgage NN securities NNS being VBG offered VBN in IN 11 CD classes NNS by IN Greenwich NNP Capital NNP Markets NNP . .
The DT offering NN , , Series NNP 1989-82 CD , , is VBZ backed VBN  by IN Fannie NNP Mae NNP 9 CD 1\/2 CD % NN securities NNS and CC used VBD at-market JJ pricing NN . .
The DT issue NN brings VBZ Fannie NNP Mae NNP 's POS 1989 CD Remic NNP issuance NN to TO $ $ 30.2 CD billion CD  and CC its PRP$ total JJ volume NN  to TO $ $ 42.3 CD billion CD  since IN the DT program NN began VBD in IN April NNP 1987 CD . .
Hanshin NNP Electric NNP Railway NNP Co NNP . . -LRB- -LRB- Japan NNP -RRB- -RRB- -- : $ $ 150 CD million CD  of IN bonds NNS due JJ Nov. NNP 2 CD , , 1993 CD , , with IN equity-purchase JJ warrants NNS , , indicating VBG a DT 4 CD % NN coupon NN at IN par NN , , via IN Nomura NNP International NNP Ltd NNP . .
Each DT $ $ 5,000 CD  bond NN carries VBZ one CD warrant NN , , exercisable JJ from IN Nov. NNP 16 CD , , 1989 CD , , through IN Oct. NNP 19 CD , , 1993 CD , ,  to TO buy VB company NN shares NNS at IN an DT expected JJ premium NN of IN 2 CD 1\/2 CD % NN to TO the DT closing NN share NN price NN when WRB terms NNS are VBP fixed VBN  Oct. NNP 24 CD  . .
Toyobo NNP Co NNP . . -LRB- -LRB- Japan NNP -RRB- -RRB- -- : $ $ 150 CD million CD  of IN bonds NNS due JJ Nov. NNP 1 CD , , 1993 CD , , with IN equity-purchase JJ warrants NNS , , indicating VBG a DT 4 CD % NN coupon NN at IN par NN , , via IN Daiwa NNP Europe NNP Ltd NNP . .
Each DT $ $ 5000 CD  bond NN carries VBZ one CD warrant NN , , exercisable JJ from IN Nov. NNP 15 CD , , 1989 CD , , to TO Oct. NNP 18 CD , , 1993 CD , ,  to TO buy VB company NN shares NNS at IN an DT expected JJ premium NN of IN 2 CD 1\/2 CD % NN to TO the DT closing NN share NN price NN when WRB terms NNS are VBP fixed VBN  Oct. NNP 23 CD  . .
Sammi NNP Steel NNP Co NNP . . -LRB- -LRB- Korea NNP -RRB- -RRB- -- : $ $ 50 CD million CD  of IN bonds NNS due JJ Nov. NNP 8 CD , , 1994 CD , , with IN equity-purchase JJ warrants NNS , , indicating VBG a DT 1 CD 1\/4 CD % NN to TO 1 CD 3\/4 CD % NN  coupon NN at IN par NN , , via IN Merrill NNP Lynch NNP International NNP Ltd. NNP and CC Dong NNP Suh NNP Securities NNP Co NNP . .
Each DT $ $ 5,000 CD  bond NN carries VBZ one CD warrant NN , , exercisable JJ from IN May NNP 8 CD , , 1991 CD , , through IN Oct. NNP 8 CD , , 1994 CD , ,  to TO buy VB company NN shares NNS at IN an DT expected JJ premium NN of IN 75 CD % NN to TO 85 CD % NN  to TO the DT closing NN share NN price NN when WRB terms NNS are VBP fixed VBN  Oct. NNP 18 CD  . .
Redland NNP International NNP Funding NNP PLC NNP -LRB- -LRB- U.K. NNP parent NN -RRB- -RRB- -- : 150 CD million CD Australian JJ dollars NNS of IN 15 CD 3\/8 CD % NN bonds NNS due JJ Nov. NNP 8 CD , , 1996 CD , , priced VBN  at IN 101 CD 3\/4 CD  to TO yield VB 15.44 CD % NN less CC full JJ fees NNS , , via IN JP NNP Morgan NNP Securities NNP Ltd NNP . .
 Guaranteed VBN  by IN Redland NNP PLC NNP . .
Fees NNS 2 CD . .
Tennessee NNP Valley NNP Authority NNP -- : A DT $ $ 4 CD billion CD  , , three-part JJ offering NN of IN power NN bonds NNS priced VBN  through IN an DT underwriting NN group NN led VBN  by IN First NNP Boston NNP Corp NNP . .
The DT size NN of IN the DT issue NN was VBD increased VBN  from IN an DT originally RB planned VBN $ $ 3 CD billion CD  . .
The DT first JJ part NN , , consisting VBG of IN $ $ 2 CD billion CD  of IN bonds NNS due JJ Oct. NNP 1 CD , , 2019 CD , , with IN a DT five-year JJ non-call JJ provision NN , , was VBD priced VBN  as IN 8 CD 3\/4 CD % NN securities NNS at IN 96.808 CD  to TO yield VB 9.06 CD % NN . .
The DT 30-year JJ issue NN was VBD priced VBN  at IN a DT spread NN of IN 105 CD basis NN points NNS above IN the DT Treasury NNP 's POS 30-year JJ bellwether JJ bond NN . .
The DT second JJ part NN , , consisting VBG of IN $ $ 1 CD billion CD  of IN noncallable JJ bonds NNS due JJ Oct. NNP 1 CD , , 1999 CD , , was VBD priced VBN  as IN 8 CD 3\/8 CD % NN securities NNS at IN 99.691 CD  to TO yield VB 8.42 CD % NN . .
The DT 10-year JJ issue NN was VBD priced VBN  at IN a DT spread NN of IN 43 CD basis NN points NNS above IN the DT Treasury NNP 's POS 10-year JJ note NN . .
The DT third JJ part NN , , consisting VBG of IN $ $ 1 CD billion CD  of IN noncallable JJ bonds NNS due JJ Oct. NNP 1 CD , , 1994 CD , , was VBD priced VBN  as IN 8 CD 1\/4 CD % NN securities NNS at IN 99.672 CD  to TO yield VB 8.33 CD % NN . .
The DT five-year JJ issue NN was VBD priced VBN  at IN a DT spread NN of IN 43 CD basis NN points NNS above IN the DT Treasury NNP 's POS comparable JJ note NN . .
The DT issue NN is VBZ rated VBN  triple-A JJ by IN Moody NNP 's POS and CC triple-A JJ by IN S&P NNP . .
Par NNP Pharmaceutical NNP Inc. NNP said VBD  it PRP named VBD its PRP$ interim JJ president NN and CC chief JJ executive JJ officer NN , , Kenneth NNP I. NNP Sawyer NNP , , to TO those DT posts NNS permanently RB , , and CC elected VBD him PRP to TO the DT board NN . .
Par NNP also RB said VBD  it PRP was VBD advised VBN  by IN the DT U.S. NNP attorney NN for IN Maryland NN that IN it PRP is VBZ one CD of IN a DT number NN of IN companies NNS being VBG investigated VBN  by IN a DT federal JJ grand JJ jury NN for IN alleged JJ violations NNS of IN the DT federal JJ Food NNP , , Drug NNP and CC Cosmetic NNP Act NNP . .
Par NNP , , a DT generic-drug NN maker NN that WDT  has VBZ been VBN plagued VBN  by IN management NN problems NNS , , was VBD already RB the DT subject NN of IN a DT federal JJ criminal JJ inquiry NN into IN the DT drug-approval JJ process NN and CC a DT Food NNP and CC Drug NNP Administration NNP investigation NN . .
A DT Par NNP spokesman NN said VBD  he PRP understood VBD  the DT criminal JJ investigation NN in IN Maryland NNP relates VBZ to TO matters NNS  Par NNP disclosed VBD  in IN July NNP , , when WRB Par NNP said VBD  it PRP filed VBD false JJ drug NN information NN with IN the DT FDA NNP  . .
At IN the DT time NN , , the DT company NN said VBD  it PRP was VBD recalling VBG one CD of IN its PRP$ drugs NNS and CC had VBD stopped VBN  selling VBG two CD others NNS . .
The DT spokesman NN said VBD  he PRP also RB understood VBD that IN the DT inquiry NN related VBD to TO the DT existence NN of IN an DT `` `` off-the-record JJ '' '' production NN book NN . .
The DT book NN noted VBD changes NNS made VBN  at IN the DT manufacturing NN level NN that WDT  were VBD n't RB disclosed VBN  to TO the DT FDA NNP . .
Par NNP said VBD  it PRP is VBZ cooperating VBG in IN the DT investigation NN . .
Also RB yesterday NN , , Ashok NNP Patel NNP , , a DT former JJ Par NNP official NN who WP  pleaded VBD guilty JJ to TO  providing VBG an DT FDA NNP employee NN an DT illegal JJ gratuity NN of IN $ $ 3,000 CD  , , was VBD sentenced VBN  by IN a DT federal JJ judge NN in IN Baltimore NNP to TO one CD year NN of IN community NN service NN and CC a DT $ $ 150,000 CD  fine NN . .
Mr. NNP Patel NNP also RB was VBD placed VBN  on IN three CD years NNS ' POS probation NN . .
Mr. NNP Patel NNP resigned VBD as IN senior JJ vice NN president NN of IN Par NNP in IN April NNP . .
In IN July NNP , , Par NNP and CC a DT 60%-owned JJ unit NN agreed VBD  to TO plead VB guilty JJ in IN that DT inquiry NN , , as IN did VBD another DT former JJ Par NNP official NN  . .
Mr. NNP Sawyer NNP began VBD  running VBG the DT company NN on IN an DT interim JJ basis NN in IN late JJ September NNP . .
Par NNP said VBD  it PRP selected VBD him PRP for IN the DT posts NNS of IN president NN and CC chief JJ executive NN on IN a DT permanent JJ basis NN because IN of IN his PRP$ experience NN in IN the DT industry NN and CC his PRP$ performance NN at IN Par NNP . .
Perry NNP Levine NNP , , chairman NN , , said VBD  Mr. NNP Sawyer NNP had VBD `` `` taken VBN significant JJ steps NNS '' ''   to TO restore VB the DT company NN 's POS credibility NN and CC sense NN of IN professionalism NN and CC integrity NN . .
Just RB after IN midnight NN Monday NNP , , federal JJ spending NN started VBD  to TO drop VB by IN $ $ 16 CD billion CD  . .
What WP do VBP you PRP say VB we PRP all DT close VBP down RP the DT poker NN game NN , , go VBP home NN and CC bank VBP the DT $ $ 16 CD billion CD  ? .
That DT 's VBZ essentially RB what WP budget NN director NN Richard NNP Darman NNP is VBZ suggesting VBG  , , and CC we PRP think VBP  he PRP deserves VBZ as RB much JJ support NN as IN he PRP can MD get VB  . .
If IN human JJ beings NNS ca MD n't RB cut VB federal JJ spending NN honestly RB -- : and CC they PRP ca MD n't RB  -- :  let VB the DT computers NNS do VB it PRP . .
Congress NNP , , with IN a DT measure NN of IN White NNP House NNP complicity NN , , has VBZ been VBN manipulating VBG the DT spending NN accounts NNS for IN years NNS under IN the DT cover NN of IN omnibus JJ appropriations NNS bills NNS . .
-LRB- -LRB- Indeed RB without IN earlier JJR manipulations NNS , , the DT current NN sequester NN of IN $ $ 16 CD billion CD  would MD have VB been VBN even RB larger JJR . . -RRB- -RRB-
We PRP suspect VBP  voters NNS are VBP fed VBN up RP with IN the DT finagling NN . .
 Consider VB , , for IN instance NN , , that IN even RB yesterday NN 's VBZ widely RB publicized VBN sequester NN is VBZ likely JJ  to TO be VB traduced VBN  if IN business NN as IN usual JJ is VBZ allowed VBN  to TO prevail VB . .
Under IN the DT law NN , , Gramm-Rudman NNP 's POS across-the-board-cuts NNS in IN federal JJ programs NNS are VBP supposed VBN  to TO be VB permanent JJ . .
Social NNP Security NNP and CC spending NN for IN poor JJ people NNS are VBP exempted VBN  . .
However RB , , the DT Associated NNP Press NNP 's POS account NN of IN the DT Monday NNP sequester NN order NN signed VBN  by IN President NNP Bush NNP neatly RB captured VBD the DT contempt NN  Congress NNP shows VBZ  toward IN the DT notion NN of IN a DT legally RB binding JJ commitment NN : :
`` `` Lawmakers NNS have VBP been VBN saying VBG for IN weeks NNS that IN they PRP plan VBP  to TO roll VB back RP the DT cuts NNS as RB soon RB as IN they PRP agree VBP to TO a DT compromise NN on IN a DT deficit-cutting JJ bill NN . . '' ''
Mr. NNP Darman NNP 's POS inclination NN  to TO save VB the DT sequester NN was VBD backed VBN up RP yesterday NN by IN White NNP House NNP Press NNP Secretary NNP Marlin NNP Fitzwater NNP : :
`` `` There EX is VBZ some DT feeling NN  here RB that IN the DT cuts NNS are VBP the DT way NN   to TO go VB  . .
It PRP will MD reduce VB spending NN in IN a DT very RB effective JJ fashion NN . . '' ''
This DT attitude NN is VBZ being VBG waved VBD away RP by IN sophisticates NNS around IN Washington NNP as RB little JJ more JJR than IN tough JJ talk NN . .
It PRP looks VBZ to TO us PRP like IN a DT golden JJ opportunity NN for IN George NNP Bush NNP to TO chop VB off RP at IN the DT knees NNS all PDT this DT talk NN about IN a DT timid JJ , , unserious JJ presidency NN . .
Mr. NNP Bush NNP would MD be VB acting VBG in IN the DT public JJ interest NN if IN he PRP let VBD the DT Washington NNP elites NNS who WP  manipulate VBP these DT budgets NNS -- : the DT bureaucrats NNS , , the DT lobbyists NNS , , the DT congressional JJ staffers NNS -- : live VB for IN just RB one CD year NN on IN a DT restricted JJ diet NN . .
 Ask VB Tommy NNP Lasorda NNP ; : thin JJ is VBZ in RB . .
Senator NNP Phil NNP Gramm NNP pointed VBD out RP Monday NNP that IN in IN the DT 20 CD years NNS before IN Gramm-Rudman NNP was VBD enacted VBN  in IN 1985 CD , , federal JJ spending NN grew VBD by IN about RB 11 CD % NN a DT year NN ; : since IN the DT law NN , , it PRP 's VBZ grown VBN at IN under IN 5 CD % NN annually RB . .
Another DT major JJ factor NN in IN this DT positive JJ trend NN was VBD Ronald NNP Reagan NNP 's POS decision NN  early RB in IN his PRP$ presidency NN  to TO fight VB the DT budget NN war NN on IN the DT expenditure NN side NN rather RB than IN  raising VBG taxes NNS . .
George NNP Bush NNP 's POS continued JJ support NN of IN the DT tax NN dam NN sustains VBZ this DT strategy NN of IN  pressuring VBG Congress NNP to TO make VB choices NNS among IN competing VBG priorities NNS , , rather RB than IN  just RB saying VBG yes UH to TO all PDT the DT grateful JJ special-interest JJ constituencies NNS that WDT  fill VBP the DT PAC NNP trough NN . .
If IN Washington NNP 's POS elites NNS ever RB succeed VBP in IN  bursting VBG the DT tax NN dam NN , , Americans NNPS will MD be VB engulfed VBN  in IN a DT red JJ sea NN of IN new JJ spending NN programs NNS , , such JJ as IN federalized JJ child NN care NN . .
Child NN care NN was VBD one CD of IN the DT many JJ `` `` extraneous JJ '' '' bills NNS pulled VBN  out IN of IN the DT Senate NNP 's POS reconciliation NN bill NN last JJ Friday NNP . .
Others NNS were VBD the DT capital-gains NNS cut NN , , Section NNP 89 CD repeal NN , , the DT disabled JJ workers NNS bill NN , , and CC the DT unprecedented JJ reconsideration NN of IN the DT catastrophic JJ health NN act NN . .
All PDT this DT stuff NN still RB is VBZ in IN the DT House NNP 's POS 1,878-page JJ reconciliation NN bill NN , , and CC many JJ Members NNS say VBP  they PRP 're VBP reluctant JJ  to TO pull VB out RP cherished JJ bills NNS , ,  just RB to TO see VB them PRP die VB . .
Republicans NNPS especially RB want VBP a DT guarantee NN  from IN the DT House NNP leadership NN that IN they PRP 'll MD get VB an DT up-or-down JJ vote NN on IN the DT bills NNS . .
House NNP Speaker NNP Foley NNP ought MD  to TO deliver VB that DT promise NN . .
This DT is VBZ the DT way NN  government NN is VBZ supposed VBN  to TO work VB  , , with IN politicians NNS taking VBG responsibility NN for IN votes NNS that IN their PRP$ constituents NNS can MD identify VB  , , instead RB of IN  concealing VBG them PRP in IN the DT great JJ reconciliation NN garbage NN truck NN . .
We PRP have VBP as RB much JJ nostalgia NN as IN anyone NN for IN those DT leafy JJ , , breezy JJ days NNS in IN Washington NNP when WRB honorable JJ men NNS and CC women NNS dickered VBD over IN budgets NNS and CC even RB log-rolled VBD a DT bit NN  to TO see VB that IN the DT bridges NNS got VBD build VBN  , , roads NNS paved VBN  , , soldiers NNS paid VBN  or CC that IN the DT desperately RB poor JJ were VBD cared VBN for IN   . .
Those DT days NNS are VBP gone VBN . .
Nor CC do VBP we PRP see VB any DT reason NN   to TO believe VB that IN a DT metropolitan JJ Washington NNP that WDT  has VBZ gotten VBN fat JJ and CC rich JJ and CC lazy JJ in IN the DT shadow NN of IN the DT federal JJ colossus NN will MD change VB much RB on IN its PRP$ own JJ initiative NN  . .
 Save VB the DT sequester NN , , and CC let VB Washington NNP scream NN . .
The DT New NNP York NNP Stock NNP Exchange NNP said VBD  a DT seat NN sold VBN for IN $ $ 436,000 CD  , , down RB $ $ 39,000 CD  from IN the DT previous JJ sale NN Oct. NNP 4 CD . .
Seats NNS are VBP currently RB quoted VBN  at IN $ $ 425,000 CD  bid NN  and CC $ $ 475,000 CD  offered VBN  . .
The DT $ $ 475,000 CD  sale NN price NN earlier RBR this DT month NN was VBD the DT lowest JJS in IN nearly RB three CD years NNS . .
Exchange NN seats NNS hit VBD a DT peak NN of IN $ $ 1,150,000 CD  in IN September NNP 1987 CD . .
The DT Canadian JJ government NN auctioned VBD 750 CD million CD Canadian JJ dollars NNS -LRB- -LRB- US$ $ 637.5 CD million CD  -RRB- -RRB- of IN 9.25 CD % NN bonds NNS due JJ Dec. NNP 15 CD , , 1994 CD . .
The DT average JJ accepted JJ yield NN bid NN  was VBD 9.617 CD % NN for IN a DT price NN equivalent NN of IN 98.523 CD . .
Proceeds NNS of IN the DT sale NN will MD be VB used VBN   to TO redeem VB C$ $ 675 CD million CD  of IN government NN bonds NNS maturing VBG Nov. NNP 1 CD and CC for IN general JJ government NN purposes NNS . .
Northern NNP Trust NNP Corp. NNP said VBD  its PRP$ board NN adopted VBD a DT shareholder NN rights NNS plan NN aimed VBN  at IN  deterring VBG unwanted JJ takeover NN bids NNS , , but CC said VBD  it PRP 's VBZ not RB aware JJ of IN any DT plan NN  to TO acquire VB the DT banking NN concern NN . .
Under IN Northern NNP Trust NNP 's POS plan NN , , shareholders NNS were VBD issued VBN  rights NNS that IN , , in IN the DT event NN of IN certain JJ attempted VBN takeovers NNS , ,  allow VBP holders NNS to TO buy VB shares NNS in IN the DT company NN at IN half JJ price NN . .
National NNP Patent NNP Development NNP Corp. NNP said VBD  it PRP plans VBZ  to TO purchase VB as RB many JJ as IN 200,000 CD common JJ shares NNS of IN its PRP$ 81%-controlled JJ Interferon NNP Sciences NNP Inc. NNP unit NN in IN periodic JJ , , open-market JJ purchases NNS . .
The DT 200,000 CD shares NNS are VBP about RB 23 CD % NN of IN Interferon NNP 's POS common JJ shares NNS outstanding JJ , , excluding VBG National NNP Patent NNP 's POS stake NN . .
 Noting VBG the DT recent JJ Food NNP and CC Drug NNP Administration NNP approval NN of IN Interferon NNP 's POS genital JJ warts NNS treatment NN , , National NNP Patent NNP said VBD  it PRP believes VBZ  Interferon NNP 's POS stock NN is VBZ undervalued JJ . .
Japanese JJ investors NNS , ,  reassured VBN  by IN Monday NNP 's POS strong JJ rally NN on IN Wall NNP Street NNP , , erased VBD most JJS of IN that DT day NN 's POS losses NNS on IN the DT Tokyo NNP Stock NNP Exchange NNP . .
But CC analysts NNS said VBD  the DT rebound NN did VBD n't RB remove VB the DT cautious JJ mood NN from IN the DT market NN . .
In IN London NNP , , stocks NNS closed VBD lower JJR in IN volatile JJ trading NN as IN an DT opening NN rally NN was VBD obliterated VBN  by IN worse-than-expected JJ U.S. NNP trade NN figures NNS . .
Paris NNP shares NNS had VBD a DT similar JJ reaction NN , , but CC most JJS other JJ European JJ bourses NNS posted VBD gains NNS , , as IN did VBD all PDT major JJ Asian JJ and CC Pacific JJ stock NN markets NNS  . .
Tokyo NNP 's POS Nikkei NNP Index NNP of IN 225 CD stocks NNS jumped VBD 527.39 CD points NNS  to TO close VB at IN 34996.08 CD . .
The DT rise NN came VBD a DT day NN after IN the DT year NN 's POS biggest JJS drop NN on IN Monday NNP , , when WRB the DT Nikkei NNP fell VBD 647.33 CD , , or CC 1.8 CD % NN , , in IN response NN to TO Friday NNP 's POS 6.9 CD % NN plunge NN on IN Wall NNP Street NNP  . .
In IN early JJ trading NN Wednesday NNP in IN Tokyo NNP , , the DT Nikkei NNP index NN rose VBD 19.30 CD points NNS to TO 35015.38 CD . .
On IN Tuesday NNP , , the DT broader-based JJ Tokyo NNP Stock NNP Price NNP Index NNP of IN issues NNS listed VBN  in IN the DT first JJ section NN , , which WDT  fell VBD 45.66 CD Monday NNP , , rose VBD 41.76 CD , , or CC 1.61 CD % NN , , to TO 2642.64 CD . .
Trading NN was VBD relatively RB thin JJ at IN an DT estimated JJ 650 CD million CD shares NNS , , though IN  brisker JJR than IN Monday NNP 's POS 526 CD million CD . .
Advancing VBG issues NNS outnumbered VBD decliners NNS 821-201 CD , , with IN 103 CD unchanged JJ . .
`` `` We PRP 're VBP back RB to TO square NN one CD , , '' '' said VBD  Simon NNP Smithson NNP , , an DT analyst NN in IN Japan NNP for IN Kleinwort NNP Benson NNP International NNP Inc NNP . .
Japanese JJ domestic JJ institutions NNS , , including VBG trust NN banks NNS and CC investment NN management NN firms NNS , , that WDT  had VBD been VBN on IN the DT sidelines NNS during IN Monday NNP 's POS fall NN were VBD back RB in IN the DT market NN , , analysts NNS said VBD   . .
Foreign JJ investors NNS reportedly RB started VBD off RP  selling VBG but CC later RB joined VBD in IN the DT buying NN . .
The DT Tokyo NNP rally NN seemed VBD  to TO confirm VB the DT view NN  , , frequently RB expressed VBN  in IN Japan NNP in IN the DT past JJ few JJ days NNS , , that IN the DT drop NN in IN New NNP York NNP was VBD a DT local JJ problem NN related VBN to TO merger NN and CC acquisition NN activity NN in IN the DT U.S. NNP . .
`` `` This DT time NN we PRP do VBP n't RB really RB have VB  to TO worry VB about IN Tokyo NNP , , '' '' said VBD  an DT official NN at IN Daiwa NNP Securities NNP Co NNP . .
`` `` Nothing NN has VBZ changed VBN fundamentally RB in IN the DT Tokyo NNP market NN . . '' ''
But CC even RB though IN Tokyo NNP appears VBZ unharmed JJ by IN recent JJ market NN volatility NN , , analysts NNS and CC traders NNS say VBP  there EX are VBP still RB a DT few JJ concerns NNS on IN the DT horizon NN . .
In IN particular JJ , , Japanese JJ investors NNS will MD be VB keeping VBG a DT wary JJ eye NN on IN Wall NNP Street NNP  to TO see VB whether IN Monday NNP 's POS 88.12-point JJ rally NN holds VBZ up RP as RB fresh JJ U.S. NNP economic JJ data NNS are VBP released VBN  . .
`` `` People NNS are VBP placing VBG small JJ bets NNS . .
There EX 's VBZ no DT huge JJ buying NN , , '' '' said VBD  Stephen NNP Hill NNP , , head NN of IN equity NN sales NNS at IN Jardine NNP Fleming NNP Securities NNP Ltd. NNP in IN Tokyo NNP . .
`` `` Really RB brave JJ views NNS right RB now RB would MD be VB foolhardy JJ . . '' ''
Yesterday NN 's POS buyers NNS favored VBD real JJ estate NN , , construction NN and CC other JJ large-capitalization JJ issues NNS , ,  reflecting VBG the DT fact NN that IN many JJ Tokyo NNP investors NNS now RB feel VBP safer JJR with IN domestically RB oriented VBN stocks NNS , , analysts NNS said VBD   . .
They PRP also RB are VBP concerned JJ about IN the DT persistent JJ strength NN of IN the DT dollar NN against IN the DT yen NN , , as IN a DT weaker JJR yen NN leads VBZ to TO higher JJR import NN prices NNS in IN Japan NNP and CC adds VBZ to TO domestic JJ inflationary JJ pressures NNS . .
Currency NN concerns NNS also RB weigh VBP heavily RB on IN interest NN rate-sensitive JJ stocks NNS such JJ as IN banking NN and CC other JJ financial JJ issues NNS because IN of IN fears NNS that IN Japanese JJ interest NN rates NNS might MD have VB  to TO rise VB  to TO keep VB the DT dollar NN in IN check NN . .
Among IN steel NN shares NNS , , NKK NNP rose VBD 19 CD to TO 705 CD yen NN -LRB- -LRB- $ $ 4.97 CD  -RRB- -RRB- a DT share NN , , and CC Nippon NNP Steel NNP gained VBD 17 CD to TO 735 CD . .
Construction NN shares NNS that WDT  gained VBD included VBD Shimizu NNP , , which WDT  rose VBD 130 CD to TO 2,080 CD . .
In IN the DT real JJ estate NN sector NN , , Mitsui NNP Real NNP Estate NNP Development NNP was VBD up RB 100 CD at IN 2,760 CD , , and CC Mitsubishi NNP Estate NNP gained VBD 80 CD to TO 2,360 CD . .
London NNP 's POS Financial NNP Times-Stock NNP Exchange NNP 100-share JJ index NN fell VBD 27.9 CD points NNS to TO 2135.5 CD . .
It PRP was VBD down RB more JJR than IN 40 CD points NNS a DT half-hour NN before IN the DT close NN , ,  marking VBG a DT 61.5-point JJ turnaround NN from IN its PRP$ high JJ , , reached VBN  in IN the DT first JJ 15 CD minutes NNS of IN trading NN . .
The DT narrower JJR Financial NNP Times NNP 30-share JJ index NN fell VBD 29.6 CD to TO 1730.7 CD . .
Volume NN was VBD an DT active JJ 643.3 CD million CD shares NNS , , about IN double RB the DT recent JJ levels NNS but CC down RB from IN 959.3 CD million CD the DT previous JJ day NN , , which WDT U.K. NN traders NNS have VBP dubbed VBN  `` `` Manic NNP Monday NNP . . '' ''
Prices NNS opened VBD strongly RB on IN the DT basis NN of IN Monday NNP 's POS Wall NNP Street NNP rally NN and CC yesterday NN 's POS gains NNS in IN Tokyo NNP . .
But CC the DT advance NN faltered VBD as IN index-options NNS traders NNS and CC investors NNS jittery JJ about IN the DT U.K. NNP economic JJ outlook NN took VBD over RP . .
The DT unexpectedly RB wide JJ U.S. NNP August NNP trade NN deficit NN of IN $ $ 10.77 CD billion CD  hit VBD an DT already RB jittery JJ U.K. NNP market NN in IN midafternoon NN . .
Michael NNP Hicks NNP , , who WP  manages VBZ sales NNS and CC trading NN for IN brokerage NN concern NN Societe NNP Generale NNP Strauss NNP Turnbull NNP , , said VBD : : `` `` It PRP 's VBZ a DT nervous JJ market NN . .
It PRP was VBD all RB over IN the DT place NN . .
If IN you PRP bought VBD , , you PRP wish VBP  you PRP had VBD n't RB  , , and CC if IN you PRP sold VBD , , you PRP wish VBP  you PRP had VBD n't RB  . . '' ''
He PRP said VBD  the DT current JJ market NN `` `` is VBZ all RB about IN sentiment NN , , and CC the DT sentiment NN in IN London NNP is VBZ 90 CD % NN anxiety NN and CC worry NN . . '' ''
Britain NNP 's POS economic JJ fundamentals NNS , , he PRP said VBD   , , `` `` do VBP n't RB look VB very RB bright JJ . . '' ''
Dealers NNS said VBD  London NNP showed VBD signs NNS of IN  calming VBG in IN midafternoon NN after IN Wall NNP Street NNP avoided VBD sharp JJ losses NNS despite IN the DT trade NN report NN , , but CC a DT wave NN of IN futures-related JJ selling NN later RB in IN the DT session NN sent VBD buyers NNS back RB to TO the DT sidelines NNS . .
Still RB , , some DT sectors NNS found VBD buying NN interest NN after IN  being VBG actively RB sold VBN  in IN recent JJ weeks NNS . .
Merchant NN banks NNS were VBD stronger JJR across IN the DT board NN . .
Morgan NNP Grenfell NNP , , which WDT  has VBZ been VBN mentioned VBN  in IN takeover NN rumors NNS , , rose VBD 20 CD to TO 392 CD pence NNS -LRB- -LRB- $ $ 6.18 CD  -RRB- -RRB- a DT share NN . .
S.G. NNP Warburg NNP , , a DT rumored JJ target NN of IN some DT European JJ banking NN concerns NNS , , finished VBD 22 CD higher JJR at IN 400 CD . .
Hambros NNP rose VBD 5 CD to TO 204 CD , , and CC Schroders NNP rose VBD 25 CD to TO # # 12.75 CD  . .
On IN the DT corporate JJ front NN , , Ford NNP Motor NNP announced VBD that IN it PRP raised VBD its PRP$ stake NN in IN U.K. NNP luxury NN car NN maker NN Jaguar NNP to TO 10.4 CD % NN from IN 5 CD % NN . .
Jaguar NNP shares NNS jumped VBD 23 CD before IN  easing VBG  to TO close VB at IN 654 CD , , up RB 6 CD . .
Amstrad NNP , , a DT British JJ computer NN hardware NN and CC communications NNS equipment NN maker NN , , eased VBD 4 CD to TO 47 CD . .
It PRP announced VBD a DT 52 CD % NN plunge NN in IN pretax JJ profit NN for IN the DT latest JJS year NN . .
Brewery NN stocks NNS were VBD firm JJ to TO higher JJR on IN talk NN of IN early JJ bargain-hunting NN , , but CC most JJS ended VBD below IN their PRP$ peaks NNS . .
Bass NNP ended VBD up RP 3 CD higher JJR at IN 966 CD , , Guinness NNP closed VBD at IN 589 CD , , down RB 7 CD , , and CC Scottish NNP & CC Newcastle NNP dropped VBD 11 CD to TO 359 CD , , but CC Whitbread NNP Class NNP A DT shares NNS rose VBD 17 CD to TO 363 CD . .
Dealers NNS said VBD  there EX was VBD late JJ talk NN of IN a DT Whitbread NNP sale NN of IN brewing NN operations NNS to TO Scottish NNP & CC Newcastle NNP . .
The DT most RBS active JJ shares NNS were VBD major JJ blue-chips NNS , , particularly RB oils NNS and CC utilities NNS such JJ as IN British NNP Gas NNP and CC British NNP Telecommunications NNP . .
Traders NNS attributed VBD the DT action NN in IN them PRP largely RB to TO defensive JJ positioning NN in IN a DT volatile JJ market NN . .
British NNP Gas NNP finished VBD at IN 197 CD , , down RB 2 CD , , on IN 13 CD million CD shares NNS , , British NNP Petroleum NNP fell VBD 8 CD to TO 291 CD on IN 9.4 CD million CD shares NNS , , and CC British NNP Telecom NNP was VBD 4 CD lower JJR at IN 261 CD on IN turnover NN of IN 10 CD million CD shares NNS . .
Cable NNP & CC Wireless NNP fell VBD 20 CD to TO 478 CD . .
Also RB in IN active JJ trading NN , , British NNP Steel NNP fell VBD 1 CD to TO 124 CD as IN 20 CD million CD shares NNS changed VBD hands NNS . .
Racal NNP Electric NNP , , which WDT  traded VBD 11 CD million CD shares NNS , , declined VBD 12 CD to TO 218 CD . .
In IN other JJ European JJ markets NNS , , share NN prices NNS closed VBD sharply RB higher JJR in IN Frankfurt NNP and CC Zurich NNP and CC posted VBD moderate JJ rises NNS in IN Stockholm NNP , , Amsterdam NNP and CC Milan NNP . .
Paris NNP closed VBD lower JJR , , and CC most JJS Brussels NNS shares NNS were VBD unable JJ  to TO trade VB for IN a DT second JJ consecutive JJ day NN because IN of IN technical JJ problems NNS . .
South JJ African JJ gold NN stocks NNS closed VBD higher JJR . .
Elsewhere RB , , share NN prices NNS rebounded VBD in IN Hong NNP Kong NNP , , Sydney NNP , , Singapore NNP , , Wellington NNP , , Taipei NNP , , Manila NNP and CC Seoul NNP . .
In IN Hong NNP Kong NNP , , Sydney NNP and CC Singapore NNP -- : the DT largest JJS of IN those DT exchanges NNS -- : stocks NNS recovered VBD one-third NN to TO one-half NN of IN the DT ground NN  they PRP lost VBD  in IN Monday NNP 's POS plunge NN , , with IN major JJ market NN indexes NNS posting VBG gains NNS of IN 3.6 CD % NN to TO 4.4 CD % NN . .
Here RB are VBP  price NN trends NNS on IN the DT world NN 's POS major JJ stock NN markets NNS , , as IN  calculated VBN  by IN Morgan NNP Stanley NNP Capital NNP International NNP Perspective NNP , , Geneva NNP . .
 To TO make VB them PRP directly RB comparable JJ , , each DT index NN is VBZ based VBN  on IN the DT close NN of IN 1969 CD equaling VBG 100 CD . .
The DT percentage NN change NN is VBZ since IN year-end NN . .
Zurn NNP Industries NNP Inc. NNP said VBD  it PRP received VBD approval NN  to TO proceed VB on IN four CD separate JJ projects NNS with IN a DT total JJ contract NN value NN of IN $ $ 59 CD million CD  . .
The DT projects NNS include VBP construction NN of IN a DT 29,400 CD kilowatt NN waste-to-energy JJ plant NN for IN Ada NNP Cogeneration NNP L.P. NNP , , Ada NNP , , Mich. NNP ; : a DT steam NN generating NN plant NN at IN Ontario NNP , , Calif. NNP , , that DT Zurn NNP will MD own VB and CC operate VB  , , and CC two CD waste-water NN control NN projects NNS in IN Orange NNP County NNP , , Calif NNP . .
AVX NNP Corp. NNP and CC Unitrode NNP Corp. NNP said VBD  they PRP completed VBD the DT previously RB reported VBN sale NN of IN Unitrode NNP 's POS San NNP Diego-based JJ Passive NNP Components NNP division NN to TO AVX NNP . .
AVX NNP , , a DT New NNP York-based JJ maker NN of IN passive JJ electronic JJ products NNS , , paid VBD $ $ 11 CD million CD  in IN cash NN to TO Unitrode NNP , , a DT Lexington-based JJ maker NN of IN semiconductor NN products NNS . .
Passive NNP Components NNP makes VBZ capacitors NNS and CC filters NNS used VBN   to TO protect VB electronics NNS . .
Consolidated NNP Papers NNP Inc. NNP said VBD  it PRP plans VBZ  to TO spend VB $ $ 495 CD million CD  on IN new JJ paper-manufacturing JJ equipment NN and CC facilities NNS . .
The DT producer NN of IN paper NN used VBN  in IN magazines NNS and CC by IN commercial JJ printers NNS said VBD  spending VBG on IN the DT expansion NN is VBZ planned VBN  to TO begin VB in IN the DT first JJ quarter NN of IN 1990 CD . .
The DT expansion NN is VBZ subject JJ to TO approval NN by IN federal JJ and CC Wisconsin NNP environmental JJ regulators NNS . .
THE DT STOCK NN of IN Applied NNP Power NNP Inc. NNP , , which WDT  split VBD 2-for-1 JJ in IN May NNP , , has VBZ risen VBN since IN August NNP 1988 CD . .
In IN yesterday NN 's POS edition NN , , it PRP  was VBD incorrectly RB stated VBN  that IN the DT company NN 's POS share NN price NN has VBZ softened VBN since IN August NNP 1988 CD . .
The DT stock NN market NN 's POS dizzying JJ gyrations NNS during IN the DT past JJ few JJ days NNS have VBP made VBN a DT lot NN of IN individual JJ investors NNS wish VB  they PRP could MD buy VB some DT sort NN of IN insurance NN . .
After IN all DT , , they PRP wo MD n't RB soon RB forget VB the DT stock NN bargains NNS that WDT  became VBD available JJ after IN the DT October NNP 1987 CD crash NN . .
But CC while IN they PRP want VBP  to TO be VB on IN the DT alert NN for IN similar JJ buying NN opportunities NNS now RB , , they PRP 're VBP afraid JJ of IN  being VBG hammered VBN  by IN another DT terrifying JJ plunge NN . .
The DT solution NN , , at IN least JJS for IN some DT investors NNS , , may MD be VB a DT hedging NN technique NN that WDT  's VBZ well RB known VBN to TO players NNS in IN the DT stock-options NNS market NN . .
 Called VBN  a DT `` `` married JJ put NN , , '' '' the DT technique NN is VBZ carried VBN  out RP by IN  purchasing VBG a DT stock NN and CC simultaneously RB buying VBG a DT put NN option NN on IN that DT stock NN . .
It PRP 's POS like IN `` `` fire NN insurance NN , , '' '' says VBZ   Harrison NNP Roth NNP , , the DT senior JJ options NNS strategist NN at IN Cowen NNP & CC Co NNP . .
Because IN a DT put NN option NN gives VBZ its PRP$ owner NN the DT right NN  , , but CC not RB the DT obligation NN  , ,  to TO sell VB a DT fixed JJ number NN of IN shares NNS of IN the DT stock NN at IN a DT stated JJ price NN on IN or CC before IN the DT option NN 's POS expiration NN date NN , , the DT investor NN is VBZ protected VBN  against IN a DT sudden JJ drop NN in IN the DT stock NN 's POS price NN . .
But CC most JJS investment NN advisers NNS do VBP n't RB recommend VB  using VBG married JJ puts NNS all PDT the DT time NN . .
That DT 's VBZ because IN the DT cost NN of IN  buying VBG put NN options NNS eats VBZ into IN an DT investor NN 's POS profit NN when WRB stock NN prices NNS rise VBP  . .
`` `` This DT is VBZ the DT type NN of IN fire NN insurance NN  you PRP only RB buy VBP  when WRB the DT nearby JJ woods NNS are VBP on IN fire NN  , , '' '' says VBZ  Mr. NNP Roth NNP . .
`` `` You PRP always RB want VB your PRP$ house NN insured VBN  , , but CC you PRP do VBP n't RB always RB feel VB the DT need NN for IN your PRP$ investments NNS to TO be VB insured VBN  . . '' ''
In IN addition NN to TO  hedging VBG new JJ stock NN purchases NNS , , the DT married-put JJ technique NN can MD be VB used VBN   to TO protect VB stocks NNS that IN an DT investor NN already RB owns VBZ  . .
In IN either DT case NN , , the DT investor NN faces VBZ three CD possible JJ outcomes NNS : :
-- : If IN the DT stock NN goes VBZ up RB in IN price NN between IN now RB and CC the DT put NN 's POS expiration NN date NN , , the DT put NN will MD probably RB expire VB  worthless JJ . .
The DT investor NN will MD be VB out IN the DT cost NN of IN the DT put NN , , which WDT  is VBZ called VBN  the DT `` `` premium NN , , '' '' and CC this DT loss NN will MD reduce VB the DT stock-market NN profit NN . .
-- : If IN the DT stock NN stays VBZ at IN the DT same JJ price NN between IN now RB and CC the DT put NN 's POS expiration NN date NN , , the DT investor NN 's POS loss NN will MD be VB limited VBN  to TO the DT cost NN of IN the DT put NN , , less CC any DT amount NN realized VBN  from IN a DT closing NN sale NN of IN the DT put NN . .
The DT worst-case JJ scenario NN would MD be VB if IN the DT put NN expires VBZ  worthless JJ . .
-- : If IN the DT price NN of IN the DT stock NN declines VBZ , , the DT put NN will MD increase VB in IN value NN . .
Once IN the DT stock NN price NN is VBZ less JJR than IN the DT exercise NN price NN , , or CC `` `` strike NN price NN , , '' '' of IN the DT put NN , , the DT gain NN will MD match VB the DT loss NN on IN the DT stock NN dollar NN for IN dollar NN . .
The DT put NN establishes VBZ a DT minimum NN selling NN price NN for IN the DT stock NN during IN its PRP$ life NN . .
When WRB a DT stock NN falls VBZ below IN the DT put NN 's POS strike NN price NN  , , the DT investor NN simply RB sells VBZ the DT stock NN at IN a DT loss NN and CC simultaneously RB sells VBZ the DT put NN at IN a DT profit NN . .
Or CC , , the DT investor NN can MD exercise VB the DT put NN , , by IN  tendering VBG the DT stock NN to TO his PRP$ or CC her PRP$ broker NN in IN return NN for IN payment NN from IN another DT investor NN who WP  has VBZ sold VBN a DT put NN on IN the DT same JJ stock NN . .
Brokers NNS handle VBP such JJ transactions NNS through IN the DT Options NNP Clearing NNP Corp. NNP , , which WDT  guarantees VBZ all DT option NN trades NNS . .
The DT accompanying JJ table NN shows VBZ how WRB this DT strategy NN would MD work VB for IN three CD stocks NNS  . .
Though IN  not RB reflected VBN  in IN the DT table NN , , an DT investor NN should MD know VB that IN the DT cost NN of IN the DT option NN insurance NN can MD be VB partially RB offset VBN  by IN any DT dividends NNS that WDT the DT stock NN pays VBZ  . .
For IN example NN , , Tenneco NNP Inc. NNP pays VBZ a DT quarterly JJ dividend NN of IN 76 CD cents NNS , , which WDT  would MD be VB received VBN  before IN the DT February NNP option NN expires VBZ and CC , , thus RB , , reduce VB the DT cost NN of IN  using VBG the DT technique NN by IN that DT amount NN . .
In IN this DT case NN , , the DT investor NN 's POS risk NN would MD n't RB exceed VB 3.6 CD % NN of IN the DT total JJ investment NN . .
 To TO simplify VB the DT calculations NNS , , commissions NNS on IN the DT option NN and CC underlying JJ stock NN are VBP n't RB included VBN  in IN the DT table NN . .
There EX are VBP more JJR than IN 650 CD stocks NNS on IN which WDT options NNS  may MD be VB bought VBN and CC sold VBN  , , including VBG some DT over-the-counter JJ stocks NNS . .
But CC some DT investors NNS might MD prefer VB a DT simpler JJR strategy NN then RB  hedging VBG their PRP$ individual JJ holdings NNS . .
They PRP can MD do VB this DT by IN  purchasing VBG `` `` index NN puts VBZ , , '' '' which WDT  are VBP simply RB put VBN options NNS on IN indexes NNS that WDT  match VBP broad JJ baskets NNS of IN stocks NNS . .
For IN instance NN , , the DT most RBS popular JJ index NN option NN is VBZ the DT S&P NNP 100 CD option NN , , commonly RB called VBN  the DT OEX NNP . .
It PRP is VBZ based VBN  on IN the DT stocks NNS that WDT  make VBP up RP Standard NNP & CC Poor NNP 's POS 100-stock CD index NN . .
Unlike IN options NNS on IN individual JJ issues NNS , , index NN options NNS are VBP settled VBN  only RB in IN cash NN , , and CC no DT stock NN is VBZ ever RB tendered VBN  . .
But CC while IN index NN options NNS are VBP convenient JJ , , they PRP have VBP several JJ disadvantages NNS . .
For IN one CD thing NN , , an DT investor NN 's POS portfolio NN might MD not RB closely RB match VB the DT S&P NNP 100 CD . .
As IN a DT result NN , , the DT OEX NNP insurance NN may MD  or CC may MD not RB  fully RB protect VB an DT investor NN 's POS holdings NNS in IN the DT event NN of IN a DT market NN decline NN . .
In IN addition NN , , OEX NNP options NNS were VBD suspended VBN  from IN trading VBG last JJ Friday NNP afternoon NN , , after IN the DT stock-market NN sell-off NN got VBD under IN way NN and CC trading NN in IN the DT S&P-500 NNP futures NNS contract NN was VBD halted VBN  . .
So IN an DT investor NN who WP  wanted VBD  to TO realize VB a DT profit NN on IN OEX NNP puts NNS after IN the DT trading NN suspension NN would MD have VB been VBN out IN of IN luck NN . .
On IN the DT other JJ hand NN , , only RB a DT handful NN of IN individual JJ issues NNS were VBD suspended VBN  from IN trading VBG on IN Friday NNP . .
Normally RB , , once RB the DT underlying JJ investment NN is VBZ suspended VBN  from IN trading VBG , , the DT options NNS on IN those DT investments NNS also RB do VBP n't RB trade VB . .
Ultimately RB , , whether IN the DT insurance NN provided VBN  by IN  purchasing VBG puts NNS is VBZ worthwhile JJ depends VBZ on IN the DT cost NN of IN the DT options NNS . .
That DT cost NN rises VBZ in IN times NNS of IN high JJ market NN volatility NN . .
But CC it PRP still RB might MD be VB cheaper JJR than IN  taking VBG a DT major JJ hit NN . .
The DT protection NN from IN  using VBG married JJ puts NNS is VBZ clearly RB superior JJ to TO that DT afforded VBN  by IN another DT options NNS strategy NN  some DT investors NNS consider VBP  using VBG  during IN troubled JJ times NNS : :  selling VBG call NN options NNS on IN stocks NNS  the DT investor NN owns VBZ  . .
A DT call NN option NN is VBZ similar JJ to TO a DT put NN , , except IN that IN it PRP gives VBZ its PRP$ owner NN the DT right NN  to TO buy VB shares NNS at IN a DT stated JJ price NN until IN expiration NN . .
 Selling VBG a DT call NN option NN gives VBZ an DT investor NN a DT small JJ buffer NN against IN a DT stock-market NN decline NN . .
That DT 's VBZ because IN it PRP reduces VBZ the DT cost NN of IN the DT stock NN by IN the DT amount NN of IN premium NN received VBN  from IN the DT sale NN of IN the DT call NN . .
But CC if IN the DT price NN of IN the DT stock NN rises VBZ above IN the DT strike NN price NN of IN the DT option NN , , the DT stock NN is VBZ almost RB certain JJ  to TO be VB called VBN  away RP . .
And CC in IN that DT case NN , , the DT investor NN misses VBZ out RP on IN any DT major JJ upside JJ gain NN . .
These DT calculations NNS exclude VBP the DT effect NN of IN commissions NNS paid VBN  and CC dividends NNS received VBN  from IN the DT stock NN . .
All DT prices NNS are VBP as IN of IN Monday NNP 's POS close NN . .
Hopes NNS for IN quick JJ enactment NN of IN pending VBG deficit-reduction NN legislation NN faded VBD as IN efforts NNS  to TO streamline VB the DT House NNP version NN in IN advance NN of IN a DT House-Senate NNP conference NN broke VBD down RP . .
House NNP leaders NNS had VBD hoped VBN  to TO follow VB the DT Senate NNP 's POS lead NN by IN  getting VBG an DT agreement NN from IN House NNP committee NN chairmen NNS under IN which WDT they PRP would MD drop VB items NNS that WDT  would MD n't RB reduce VB the DT fiscal JJ 1990 CD budget NN deficit NN from IN the DT House-passed JJ bill NN before IN the DT negotiations NNS with IN the DT Senate NNP began VBD  . .
But CC the DT effort NN became VBD snagged VBN  on IN the DT question NN of IN what WP  would MD become VB of IN other JJ issues NNS , , ranging VBG from IN  cutting VBG the DT capital-gains NNS tax NN to TO child NN care NN to TO repeal NN of IN catastrophic-illness NN insurance NN . .
`` `` Many JJ members NNS feel VBP  there EX are VBP important JJ features NNS of IN the DT House NNP bill NN that WDT  should MD be VB enacted VBN  , , '' '' Speaker NNP Thomas NNP Foley NNP -LRB- -LRB- D. NNP , , Wash NNP . . -RRB- -RRB- said VBD  . .
`` `` If IN there EX is VBZ any DT support NN for IN  reducing VBG the DT bill NN , , it PRP is VBZ conditioned VBN  on IN their PRP$ desire NN  to TO see VB them PRP passed VBN  in IN another DT form NN . . '' ''
Now RB those DT items NNS will MD be VB discussed VBN  in IN a DT House-Senate NNP conference NN , , which WDT  could MD begin VB as RB soon RB as IN today NN , , with IN the DT expectation NN that IN they PRP could MD either CC be VB resolved VBN  there RB or CC placed VBN  into IN other JJ legislation NN . .
`` `` You PRP 've VBP got VBN  to TO give VB these DT chairmen NNS the DT opportunity NN  to TO see VB if IN they PRP can MD work VB things NNS out RP , , '' '' said VBD  House NNP Budget NNP Committee NNP Chairman NNP Leon NNP Panetta NNP -LRB- -LRB- D. NNP , , Calif NNP . . -RRB- -RRB- . .
`` `` This DT is VBZ a DT democratic JJ process NN -- : you PRP ca MD n't RB slam-dunk VB anything NN around IN here RB . . '' ''
White NNP House NNP Budget NNP Director NNP Richard NNP Darman NNP has VBZ said VBD  he PRP would MD continue VB  to TO press VB  to TO keep VB the DT capital-gains NNS provision NN in IN the DT final JJ version NN of IN the DT bill NN unless IN the DT House NNP drops VBZ many JJ of IN its PRP$ costly JJ provisions NNS . .
Senate NNP leaders NNS had VBD hoped VBN  to TO be VB able JJ  to TO send VB a DT compromise NN version NN of IN the DT measure NN to TO President NNP Bush NNP by IN the DT end NN of IN the DT week NN , , but CC Speaker NNP Foley NNP said VBD  that DT was VBD n't RB likely JJ . .
Failure NN  to TO pass VB the DT bill NN meant VBD that IN $ $ 16.1 CD billion CD  in IN across-the-board JJ spending NN cuts NNS took VBD effect NN Monday NNP under IN the DT Gramm-Rudman NNP budget NN law NN . .
The DT bill NN must MD be VB enacted VBN  before IN the DT cuts NNS can MD be VB restored VBN  . .
TRADING NN VOLUME NN in IN Standard NNP & CC Poor NNP 's POS 500 CD stock-index NN futures NNS contracts NNS on IN the DT Chicago NNP Mercantile NNP Exchange NNP Monday NNP totaled VBD 73,803 CD contracts NNS . .
Yesterday NN 's POS edition NN incorrectly RB reported VBD Monday NNP 's POS trading NN volume NN as IN a DT record NN for IN the DT S&P NNP 500 CD contract NN . .
NCNB NNP Corp. NNP raised VBD $ $ 1 CD billion CD  in IN new JJ capital NN during IN the DT third JJ quarter NN . .
In IN yesterday NN 's POS edition NN , , the DT amount NN of IN new JJ capital NN was VBD misstated VBN  . .
McCormick NNP Capital NNP Inc. NNP said VBD  its PRP$ tender NN offer NN  to TO buy VB back RP as RB many JJ as IN 1.1 CD million CD , , or CC 44 CD % NN , , of IN its PRP$ common JJ shares NNS at IN $ $ 3 CD  apiece RB , , which WDT  expired VBD Friday NNP evening NN , , was VBD oversubscribed VBN  . .
The DT developer NN and CC manager NN of IN futures-investment JJ limited JJ partnerships NNS said VBD  preliminary JJ results NNS indicate VBP that IN about RB 1,749,000 CD shares NNS had VBD been VBN tendered VBN  , ,  giving VBG a DT preliminary JJ proration NN factor NN of IN 0.6287 CD . .
The DT final JJ proration NN factor NN will MD be VB announced VBN  Monday NNP . .
Northgate NNP Exploration NNP Ltd. NNP said VBD  it PRP is VBZ proposing VBG  to TO amalgamate VB four CD of IN its PRP$ associated JJ companies NNS . .
Under IN a DT proposed VBN two-step JJ amalgamation NN involving VBG share NN swaps NNS , , ABM NNP Gold NNP Corp. NNP , , a DT gold JJ exploration NN and CC management NN company NN , , will MD merge VB with IN Neptune NNP Resources NNP Corp. NNP , , United NNP Gold NNP Corp. NNP and CC Inca NNP Resources NNP Inc NNP . .
ABM NNP will MD also RB increase VB its PRP$ stake NN in IN Sonora NNP Gold NNP Corp. NNP to TO 42 CD % NN from IN 26 CD % NN . .
Northgate NNP said VBD  it PRP will MD own VB about RB 50 CD % NN of IN the DT equity NN  and CC 81 CD % NN of IN the DT votes NNS  of IN ABM NNP after IN the DT amalgamation NN . .
The DT amalgamations NNS are VBP subject JJ to TO regulatory JJ approval NN and CC require VBP approval NN by IN shareholders NNS of IN ABM NNP , , Inca NNP , , United NNP and CC Neptune NNP at IN special JJ meetings NNS on IN Nov. NNP 10 CD . .
Steven NNP C. NNP Walker NNP , , senior JJ vice NN president NN of IN this DT bank NN holding NN company NN , , was VBD named VBN  president NN , , chief JJ executive JJ officer NN and CC a DT director NN of IN both CC Commercial NNP National NNP and CC Commercial NNP National NNP Bank NNP . .
He PRP succeeds VBZ James NNP E. NNP Burt NNP III NNP , , who WP  resigned VBD from IN all DT three CD posts NNS  to TO pursue VB other JJ interests NNS . .
Cincinnati NNP Microwave NNP Inc. NNP said VBD  it PRP introduced VBD two CD radar NN detectors NNS . .
One CD unit NN , , called VBD  the DT Escort NNP , , uses VBZ a DT new JJ digital JJ signal-processing JJ technology NN  to TO detect VB radar NN signals NNS much RB sooner RBR than IN  was VBD previously RB possible JJ , , the DT company NN said VBD   . .
The DT other JJ , , called VBN  the DT Solo NNP , , is VBZ battery NN operated VBN and CC is VBZ the DT first JJ high-performance JJ radar NN detector NN that WDT  does VBZ n't RB need VB a DT power NN cord NN , , the DT company NN said VBD   . .
A DT surprising JJ surge NN in IN the DT U.S. NNP trade NN deficit NN raised VBD fears NNS that IN the DT nation NN 's POS export NN drive NN has VBZ stalled VBN , , and CC caused VBD new JJ turmoil NN in IN financial JJ markets NNS . .
The DT merchandise NN trade NN deficit NN widened VBD in IN August NNP to TO $ $ 10.77 CD billion CD   , , the DT Commerce NNP Department NNP reported VBD   , , a DT sharp JJ deterioration NN from IN July NNP 's POS $ $ 8.24 CD billion CD  and CC the DT largest JJS deficit NN of IN any DT month NN this DT year NN . .
Exports NNS fell VBD for IN the DT second JJ month NN in IN a DT row NN , , while IN imports NNS rose VBD to TO a DT record NN . .
`` `` This DT is VBZ one CD of IN the DT worst JJS trade NN releases NNS  we PRP 've VBP had VBN  since IN the DT dollar NN troughed VBD out RP in IN 1987 CD , , '' '' said VBD  Geoffrey NNP Dennis NNP , , chief JJ international JJ economist NN at IN James NNP Capel NNP Inc NNP . .
Like IN most JJS analysts NNS , , Mr. NNP Dennis NNP was VBD hesitant JJ  to TO read VB too RB much JJ into IN one CD month NN 's POS numbers NNS ; : but CC he PRP said VBD , , `` `` It PRP indicates VBZ perhaps RB that IN the DT balance NN in IN the DT U.S. NNP economy NN is VBZ not RB as RB good JJ as IN we PRP 've VBP been VBN led VBN  to TO believe VB . . '' ''
The DT number NN had VBD a DT troubling JJ effect NN on IN Wall NNP Street NNP , ,  suggesting VBG that IN more RBR fundamental JJ economic JJ problems NNS may MD underlie VB last JJ Friday NNP 's POS stock NN market NN slide NN . .
The DT Dow NNP Jones NNP Industrial NNP Average NNP tumbled VBD more JJR than IN 60 CD points NNS after IN the DT report NN 's POS release NN , , before IN  recovering VBG  to TO close VB 18.65 CD points NNS lower JJR at IN 2638.73 CD . .
`` `` This DT bad JJ trade NN number NN raises VBZ some DT deeper JJR issues NNS about IN the DT market NN decline NN , , '' '' said VBD  Norman NNP Robertson NNP , , chief JJ economist NN for IN Mellon NNP Bank NNP . .
`` `` It PRP raises VBZ questions NNS about IN more RBR deep-seated JJ problems NNS , , the DT budget NN deficit NN and CC the DT trade NN deficit NN and CC the DT seeming JJ lack NN of IN ability NN  to TO come VB to TO grips NNS with IN them PRP . . '' ''
The DT trade NN report NN drew VBD yet RB another DT unsettling JJ parallel NN to TO October NNP 1987 CD . .
On IN Oct. NNP 14 CD of IN that DT year NN , , the DT announcement NN of IN an DT unusually RB large JJ August NNP trade NN deficit NN helped VBD  trigger NN a DT steep JJ market NN decline NN . .
The DT slide NN continued VBD until IN the DT record JJ 508-point JJ market NN drop NN on IN Oct. NNP 19 CD . .
In IN 1987 CD , , however RB , , the DT news NN was VBD the DT latest JJS in IN a DT string NN of IN disappointments NNS on IN trade NN , , while IN the DT current JJ report NN comes VBZ after IN a DT period NN of IN improvement NN . .
The DT bleak JJ trade NN report NN was VBD played VBN  down RP by IN the DT Bush NNP administration NN . .
Commerce NNP Secretary NNP Robert NNP Mosbacher NNP called VBD the DT worsening VBG trade NN figures NNS `` `` disappointing JJ after IN two CD very RB good JJ months NNS . . '' ''
And CC White NNP House NNP spokesman NN Marlin NNP Fitzwater NNP said VBD  the DT deficit NN was VBD `` `` an DT unwelcome JJ increase NN , , '' ''  adding VBG that IN `` `` we PRP 're VBP hopeful JJ that IN it PRP simply RB is VBZ a DT one-month JJ situation NN and CC will MD turn VB around RB . . '' ''
But CC the DT figures NNS reinforced VBD the DT view NN  of IN many JJ private JJ analysts NNS that IN the DT improvement NN in IN the DT U.S. NNP trade NN deficit NN has VBZ run VBN out IN of IN steam NN . .
`` `` The DT figures NNS today NN add VBP further JJ evidence NN   to TO support VB the DT view NN that IN the DT improvement NN in IN the DT U.S. NNP trade NN deficit NN has VBZ essentially RB stalled VBN out IN at IN a DT level NN of IN about RB a DT $ $ 110 CD billion CD  annual JJ rate NN , , '' '' said VBD  Jeffrey NNP Scott NNP , , a DT research NN fellow NN at IN the DT Institute NNP for IN International NNP Economics NNP here RB . .
`` `` That DT 's VBZ still RB an DT improvement NN over IN last JJ year NN , , but CC it PRP leads VBZ one PRP to TO conclude VB that IN basically RB we PRP 've VBP gotten VBN all PDT the DT mileage NN  we PRP can MD   out IN of IN past JJ dollar NN depreciation NN and CC past JJ marginal JJ cuts NNS in IN the DT federal JJ budget NN deficit NN . . '' ''
Exports NNS declined VBD for IN the DT second JJ consecutive JJ month NN in IN August NNP , ,  slipping VBG 0.2 CD % NN to TO $ $ 30.41 CD billion CD  , , the DT Commerce NNP Department NNP reported VBD   . .
Imports NNS , , on IN the DT other JJ hand NN , , leaped VBD 6.4 CD % NN to TO a DT record JJ $ $ 41.18 CD billion CD  . .
Not RB only RB was VBD August NNP 's POS deficit NN far RB worse JJR than IN July NNP 's POS , , but CC the DT government NN revised VBD the DT July NNP figure NN substantially RB from IN the DT $ $ 7.58 CD billion CD  deficit NN  it PRP had VBD initially RB reported VBN  last JJ month NN . .
Many JJ economists NNS contend VBP that IN deep JJ cuts NNS in IN the DT U.S. NNP budget NN deficit NN are VBP needed VBN  before IN further JJ trade NN improvement NN can MD occur VB . .
That DT 's VBZ because IN the DT budget NN deficit NN feeds VBZ an DT enormous JJ appetite NN in IN this DT country NN for IN both CC foreign JJ goods NNS and CC foreign JJ capital NN , ,  overwhelming VBG the DT nation NN 's POS capacity NN  to TO export VB . .
`` `` People NNS are VBP sick JJ and CC tired JJ of IN  hearing VBG about IN these DT deficits NNS , , but CC the DT imbalances NNS are VBP still RB there RB and CC they PRP are VBP still RB a DT problem NN , , '' '' said VBD  Mr. NNP Robertson NNP . .
In IN addition NN , , the DT rise NN in IN the DT value NN of IN the DT dollar NN against IN foreign JJ currencies NNS over IN the DT past JJ several JJ months NNS has VBZ increased VBN the DT price NN of IN U.S. NNP products NNS in IN overseas JJ markets NNS and CC hurt VBN the DT country NN 's POS competitiveness NN . .
Since IN March NNP , , exports NNS have VBP been VBN virtually RB flat JJ . .
At IN the DT same JJ time NN , , William NNP T. NNP Archey NNP , , international JJ vice NN president NN at IN the DT U.S. NNP Chamber NNP of IN Commerce NNP , , notes VBZ : : `` `` Clearly RB the DT stronger JJR dollar NN has VBZ made VBN imports NNS more RBR attractive JJ '' '' by IN  causing VBG their PRP$ prices NNS to TO decline VB . .
Most JJS economists NNS expect VBP the DT slowing VBG U.S. NNP economy NN to TO curb VB demand NN for IN imports NNS . .
But CC they PRP foresee VBP little JJ substantial JJ progress NN in IN exports NNS unless IN the DT dollar NN and CC the DT federal JJ budget NN deficit NN come VBD down RB . .
`` `` The DT best JJS result NN  we PRP could MD get VB  from IN these DT numbers NNS would MD be VB  to TO see VB the DT administration NN and CC Congress NNP get VB serious JJ about IN  putting VBG the DT U.S. NNP on IN an DT internationally RB competitive JJ economic JJ footing NN , , '' '' said VBD  Howard NNP Lewis NNP , , vice NN president NN of IN international JJ economic JJ affairs NNS at IN the DT National NNP Association NNP of IN Manufacturers NNP . .
`` `` That DT must MD start VB with IN  cutting VBG the DT federal JJ budget NN deficit NN . . '' ''
August NNP 's POS decline NN in IN exports NNS reflected VBD decreases NNS in IN sales NNS of IN industrial JJ supplies NNS , , capital NN goods NNS and CC food NN abroad RB and CC increases NNS in IN sales NNS of IN motor NN vehicles NNS , , parts NNS and CC engines NNS . .
The DT jump NN in IN imports NNS stemmed VBD from IN across-the-board JJ increases NNS in IN purchases NNS of IN foreign JJ goods NNS . .
The DT numbers NNS were VBD adjusted VBN  for IN usual JJ seasonal JJ fluctuations NNS . .
Alan NNP Murray NNP contributed VBD to TO this DT article NN . .
-LRB- -LRB- In IN billions NNS of IN U.S. NNP dollars NNS , , not RB seasonally RB adjusted VBN -RRB- -RRB-
\* SYM Newly RB industrialized VBN countries NNS : : Singapore NNP , , Hong NNP Kong NNP , , Taiwan NNP , , South NNP Korea NNP
Steve NNP Jobs NNP took VBD a DT step NN back RB from IN the DT frontier NN of IN personal-computer NN technology NN in IN an DT effort NN  to TO spur VB sales NNS of IN Next NNP Inc. NNP 's POS new JJ machine NN . .
Mr. NNP Jobs NNP moved VBD  to TO remedy VB a DT couple NN of IN his PRP$ computer NN 's POS drawbacks NNS yesterday NN by IN  lowering VBG the DT entry-level JJ price NN for IN a DT Next NNP machine NN by IN $ $ 1,500 CD  , , or CC 23 CD % NN , , if IN the DT buyer NN chooses VBZ a DT hard-disk JJ drive NN as IN an DT alternative NN to TO Next NNP 's POS optical-storage JJ device NN . .
The DT hard JJ drive NN , , which WDT  is VBZ the DT storage NN device NN of IN choice NN for IN virtually RB every DT desktop JJ computer NN user NN , , also RB now RB will MD supplement VB Next NNP 's POS futuristic JJ optical JJ device NN if IN buyers NNS pay VBP full JJ price NN . .
Mr. NNP Jobs NNP , , co-founder NN of IN Apple NNP Computer NNP Inc. NNP , , founded VBD Next NNP four CD years NNS ago RB in IN the DT hopes NNS of IN  fomenting VBG a DT revolution NN in IN the DT way NN  desktop JJ computers NNS are VBP designed VBN and CC used VBN   . .
His PRP$ Next NNP computer NN , , introduced VBN  about IN a DT year NN ago RB and CC aimed VBD  primarily RB at IN university NN computer NN users NNS , , sports VBZ snazzy JJ graphics NNS , , digital JJ sound NN , , built-in JJ networking NN and CC a DT sleek JJ black JJ design NN . .
But CC the DT computer NN was VBD proving VBG a DT hard JJ sell NN because IN of IN its PRP$ high JJ price NN , , a DT lack NN of IN software NN and CC an DT optical JJ data-storage JJ device NN that WDT  was VBD too RB slow JJ . .
The DT machine NN began VBD shipping VBG at IN the DT end NN of IN last JJ year NN . .
The DT closely RB held VBN company NN has VBZ n't RB disclosed VBN sales NNS . .
However RB , , most JJS universities NNS that WDT  have VBP bought VBN the DT machines NNS say VBP  they PRP are VBP buying VBG small JJ numbers NNS for IN evaluation NN purposes NNS . .
Universities NNS can MD now RB buy VB a DT Next NNP computer NN without IN an DT optical JJ storage NN device NN for IN $ $ 4,995 CD  . .
A DT computer NN with IN the DT optical JJ device NN will MD still RB cost VB $ $ 6,495 CD  , , but CC from IN now RB on RB Next NNP will MD outfit VB every DT computer NN with IN a DT hard JJ drive NN and CC supply VB one CD at IN no DT cost NN to TO those DT who WP  have VBP already RB bought VBN Next NNP machines NNS . .
Commercial JJ customers NNS can MD purchase VB the DT same JJ system NN through IN Businessland NNP Inc. NNP , , a DT computer NN retailer NN based VBN  in IN San NNP Jose NNP , , Calif. NNP , , for IN roughly RB $ $ 3,000 CD  more JJR . .
Mr. NNP Jobs NNP said VBD  the DT changes NNS were VBD prompted VBN  by IN requests NNS from IN customers NNS who WP  are VBP frustrated VBN  with IN the DT performance NN of IN the DT optical JJ device NN , , which WDT  is VBZ n't RB offered VBN  as IN standard JJ equipment NN by IN any DT rivals NNS . .
Another DT factor NN was VBD that IN customers NNS were VBD asking VBG , , `` `` Why WRB do VBP n't RB you PRP give VB us PRP a DT cheaper JJR system NN  ? . '' '' Mr. NNP Jobs NNP said VBD   at IN a DT conference NN on IN university NN computing NN here RB . .
Optical-storage JJ devices NNS can MD handle VB very RB large JJ amounts NNS of IN data NNS and CC make VB it PRP  far RB easier JJR  to TO edit VB film NN clips NNS or CC audio JJ recordings NNS with IN a DT computer NN . .
But CC the DT technology NN , , while IN reliable JJ , , is VBZ far RB slower JJR than IN the DT widely RB used VBN hard JJ drives NNS . .
 To TO get VB around IN the DT delays NNS caused VBN  by IN the DT optical JJ device NN , , Businessland NNP , , which WDT  is VBZ Next NNP 's POS exclusive JJ dealer NN to TO corporations NNS , , has VBZ for IN months NNS been VBN advising VBG customers NNS  to TO purchase VB hard JJ drives NNS with IN the DT machines NNS . .
Next NNP 's POS decision NN  to TO rely VB on IN the DT more-established JJR hard JJ drive NN in IN every DT Next NNP computer NN does VBZ n't RB signal VB a DT retreat NN from IN optical JJ storage NN , , said VBD   Mr. NNP Jobs NNP , , who WP  for IN years NNS has VBZ said VBD  this DT technology NN will MD play VB a DT crucial JJ role NN in IN the DT next JJ decade NN . .
`` `` We PRP 're VBP extremely RB committed VBN  to TO optical JJ storage NN technology NN '' '' he PRP said VBD  . .
`` `` We PRP think VBP  everything NN will MD go VB this DT way NN in IN a DT few JJ years NNS . . '' ''
He PRP said VBD that IN the DT next JJ generation NN of IN optical JJ drives NNS will MD be VB as RB fast JJ as IN hard JJ drives NNS , , but CC he PRP depends VBZ on IN outside JJ suppliers NNS for IN the DT devices NNS . .
But CC university NN computer NN specialists NNS , , who WP  welcomed VBD the DT move NN , , called VBD it PRP a DT necessary JJ retreat NN from IN the DT cutting NN edge NN of IN technology NN and CC one NN that WDT  's VBZ likely JJ  to TO increase VB Next NNP 's POS sales NNS on IN campuses NNS . .
`` `` From IN the DT standpoint NN of IN  being VBG on IN the DT forefront NN of IN technology NN , , this DT is VBZ a DT step NN backward RB , , '' '' said VBD  Jerry NNP W. NNP Sprecher NNP , , a DT senior JJ computing NN manager NN for IN the DT California NNP state NN university NN system NN . .
`` `` But CC it PRP will MD definitely RB boost VB Next NNP 's POS sales NNS . . '' ''
Universities NNS , , however RB , , say VBP  Next NNP 's POS prices NNS must MD go VB even RB lower JJR before IN large JJ numbers NNS of IN students NNS purchase VBP the DT machine NN . .
`` `` We PRP 'd MD still RB like VB  to TO see VB a DT student NN model NN , , '' '' priced VBN  at IN about RB $ $ 3,500 CD  , , said VBD   Ronald NNP Johnson NNP , , director NN of IN academic JJ computing NN at IN Minnesota NNP 's POS Gustavus NNP Adolphus NNP College NNP , , which WDT  has VBZ bought VBN eight CD Next NNP machines NNS . .
Broad JJ acceptance NN of IN Next NNP 's POS computer NN also RB is VBZ hindered VBN  by IN difficulty NN in IN  distributing VBG software NN for IN it PRP . .
Most JJS software NN is VBZ distributed VBN  on IN cheap JJ floppy JJ disks NNS , , but CC the DT Next NNP computer NN does VBZ n't RB come VB with IN a DT device NN that WDT  reads VBZ them PRP . .
Next NNP 's POS computer NN also RB needs VBZ more JJR software NN applications NNS , , but CC Mr. NNP Jobs NNP said VBD  he PRP expects VBZ more JJR soon RB . .
He PRP said VBD  he PRP expects VBZ Lotus NNP Development NNP Corp. NNP to TO introduce VB a DT Next NNP version NN of IN its PRP$ popular JJ 1-2-3 JJ spreadsheet NN program NN in IN 1990 CD . .
Educators NNS added VBD that IN Next NNP needs NNS  to TO soon RB offer VB a DT color JJ version NN of IN its PRP$ computer NN . .
Every DT major JJ maker NN offers VBZ computers NNS with IN color NN displays NNS . .
Next NNP wo MD n't RB comment VB on IN when WRB it PRP will MD do VB the DT same JJ  , , but CC is VBZ believed VBN  to TO have VB a DT color JJ model NN under IN development NN . .
Donald NNP J. NNP Amaral NNP , , 37 CD years NNS old JJ , , was VBD named VBN  president NN and CC chief JJ operating NN officer NN of IN this DT owner NN and CC operator NN of IN hospitals NNS , , nursing NN centers NNS and CC retirement NN hotels NNS . .
He PRP succeeds VBZ as IN president NN , , Don NNP Freeberg NNP , , who WP  remains VBZ chairman NN and CC chief JJ executive JJ officer NN . .
The DT position NN of IN chief JJ operating NN officer NN is VBZ new JJ . .
Ashton-Tate NNP Corp. NNP reported VBD a DT net JJ loss NN of IN $ $ 19.4 CD million CD  , , or CC 74 CD cents NNS a DT share NN , , for IN the DT third JJ quarter NN , , which WDT  was VBD burdened VBN  by IN severance NN costs NNS and CC the DT expense NN of IN  upgrading VBG its PRP$ database NN software NN inventories NNS . .
The DT software NN company NN said VBD  revenue NN slid VBD 28 CD % NN to TO $ $ 53.9 CD million CD  . .
This DT contrasts VBZ with IN the DT year-ago JJ quarter NN , , when WRB the DT company NN had VBD net JJ income NN of IN $ $ 11.7 CD million CD  , , or CC 45 CD cents NNS a DT share NN , , on IN revenue NN of IN $ $ 75.7 CD million CD   . .
For IN the DT nine CD months NNS , , Ashton-Tate NNP had VBD a DT loss NN of IN $ $ 27.6 CD million CD  , , or CC $ $ 1.05 CD  a DT share NN . .
In IN the DT year-ago JJ period NN , , the DT company NN had VBD profit NN of IN $ $ 34.3 CD million CD  , , or CC $ $ 1.32 CD  a DT share NN . .
Revenue NN in IN the DT period NN slid VBD almost RB 8 CD % NN to TO $ $ 203.2 CD million CD  from IN about RB $ $ 220 CD million CD  last JJ year NN . .
Edward NNP M. NNP Esber NNP , , chairman NN , , president NN and CC chief JJ executive JJ officer NN , , attributed VBD the DT decline NN to TO reduced JJ domestic JJ revenue NN because IN of IN $ $ 4.9 CD million CD  spent VBN   to TO upgrade VB existing JJ software NN inventories NNS to TO the DT new JJ database NN IV NNP Version NNP 1.1 CD , , and CC $ $ 1.8 CD million CD  spent VBN  on IN the DT recent JJ reduction NN in IN work NN force NN . .
He PRP said VBD  the DT company NN was VBD `` `` encouraged VBN  by IN feedback NN '' ''  it PRP received VBD  from IN selected JJ customers NNS now RB testing VBG Version NNP 1.1 CD . .
The DT red JJ ink NN came VBD as IN no DT surprise NN to TO Wall NNP Street NNP , , but CC analysts NNS said VBD  they PRP saw VBD ominous JJ hints NNS of IN a DT further JJ delay NN in IN volume NN shipments NNS of IN Version NNP 1.1 CD , , a DT harbinger NN of IN continued JJ losses NNS in IN the DT fourth JJ quarter NN . .
`` `` The DT loss NN is VBZ in IN line NN with IN our PRP$ expectations NNS , , '' '' said VBD  John NNP C. NNP Maxwell NNP III NNP , , an DT analyst NN with IN Dillon NNP , , Read NNP & CC Co. NNP in IN New NNP York NNP . .
He PRP added VBD  gross JJ margins NNS and CC operating NN profit NN `` `` eroded VBD quite RB dramatically RB '' '' from IN the DT prior JJ quarter NN , , along IN with IN sales NNS of IN existing JJ software NN product NN lines NNS like IN Multimate NNP and CC Framework NNP . .
`` `` The DT success NN of IN a DT new JJ product NN in IN the DT database NN line NN is VBZ needed VBN  . .
And CC while IN the DT company NN has VBZ n't RB made VBN a DT definite JJ statement NN , , it PRP now RB looks VBZ like IN that DT 's VBZ not RB going VBG  to TO be VB anytime RB soon RB , , '' '' Mr. NNP Maxwell NNP said VBD  . .
The DT company NN said VBD in IN a DT statement NN that IN it PRP expects VBZ  to TO ship VB new JJ products NNS `` `` during IN the DT next JJ two CD quarters NNS . . '' ''
`` `` It PRP now RB looks VBZ like IN database NN IV NNP Version NNP 1.1 CD is VBZ n't RB going VBG  to TO be VB -LCB- -LRB- widely RB -RCB- -RRB- available JJ until IN the DT first JJ quarter NN of IN 1990 CD , , '' '' said VBD  David NNP Bayer NNP , , an DT analyst NN with IN Montgomery NNP Securities NNP in IN San NNP Francisco NNP . .
`` `` This DT is VBZ the DT second JJ delay NN now RB in IN  getting VBG the DT product NN out IN the DT door NN . .
It PRP does VBZ prolong VB the DT pain NN somewhat RB . . '' ''
Mr. NNP Maxwell NNP said VBD  unless IN the DT company NN can MD start VB shipments NNS of IN the DT new JJ product NN sometime RB this DT quarter NN , , the DT fourth-quarter JJ loss NN is VBZ likely JJ  to TO be VB `` `` comparable JJ to TO the DT third JJ quarter NN 's POS . . '' ''
If IN the DT company NN can MD start VB  to TO ship VB during IN this DT quarter NN , , it PRP could MD stem VB some DT , , if IN not RB all DT of IN the DT red JJ ink NN , , he PRP said VBD   . .
In IN national JJ over-the-counter JJ trading NN , , Ashton-Tate NNP closed VBD yesterday NN at IN $ $ 10 CD  a DT share NN , , up RB 62.5 CD cents NNS . .
Tuesday NNP , , October NNP 17 CD , , 1989 CD
The DT key JJ U.S. NNP and CC foreign JJ annual JJ interest NN rates NNS below RB are VBP a DT guide NN to TO general JJ levels NNS but CC do VBP n't RB always RB represent VB actual JJ transactions NNS . .
PRIME JJ RATE NN : : 10 CD 1\/2 CD % NN . .
The DT base NN rate NN on IN corporate JJ loans NNS at IN large JJ U.S. NNP money NN center NN commercial JJ banks NNS . .
FEDERAL JJ FUNDS NNS : : 8 CD 11\/16 CD % NN high JJ , , 8 CD 5\/8 CD % NN low JJ , , 8 CD 5\/8 CD % NN near IN closing NN bid NN , , 8 CD 11\/16 CD % NN offered VBN  . .
Reserves NNS traded VBD  among IN commercial JJ banks NNS for IN overnight JJ use NN in IN amounts NNS of IN $ $ 1 CD million CD  or CC more JJR . .
Source NN : : Fulton NNP Prebon NNP -LRB- -LRB- U.S.A NN . . -RRB- -RRB- Inc NNP . .
DISCOUNT NN RATE NN : : 7 CD % NN . .
The DT charge NN on IN loans NNS to TO depository JJ institutions NNS by IN the DT New NNP York NNP Federal NNP Reserve NNP Bank NNP . .
CALL JJ MONEY NN : : 9 CD 3\/4 CD % NN to TO 10 CD % NN . .
The DT charge NN on IN loans NNS to TO brokers NNS on IN stock NN exchange NN collateral NN . .
COMMERCIAL JJ PAPER NN placed VBN  directly RB by IN General NNP Motors NNP Acceptance NNP Corp. NNP : : 8.40 CD % NN 30 CD to TO 44 CD days NNS ; : 8.325 CD % NN 45 CD to TO 59 CD days NNS ; : 8.10 CD % NN 60 CD to TO 89 CD days NNS ; : 8 CD % NN 90 CD to TO 119 CD days NNS ; : 7.85 CD % NN 120 CD to TO 149 CD days NNS ; : 7.70 CD % NN 150 CD to TO 179 CD days NNS ; : 7.375 CD % NN 180 CD to TO 270 CD days NNS . .
COMMERCIAL NNP PAPER NNP : : High-grade JJ unsecured JJ notes NNS sold VBN  through IN dealers NNS by IN major JJ corporations NNS in IN multiples NNS of IN $ $ 1,000 CD  : : 8.50 CD % NN 30 CD days NNS ; : 8.40 CD % NN 60 CD days NNS ; : 8.375 CD % NN 90 CD days NNS . .
CERTIFICATES NNS OF IN DEPOSIT NN : : 8.05 CD % NN one CD month NN ; : 8.02 CD % NN two CD months NNS ; : 8 CD % NN three CD months NNS ; : 7.98 CD % NN six CD months NNS ; : 7.95 CD % NN one CD year NN . .
Average JJ of IN top JJ rates NNS paid VBN  by IN major JJ New NNP York NNP banks NNS on IN primary JJ new JJ issues NNS of IN negotiable JJ C.D.s NNS , , usually RB on IN amounts NNS of IN $ $ 1 CD million CD  and CC more JJR . .
The DT minimum JJ unit NN is VBZ $ $ 100,000 CD  . .
Typical JJ rates NNS in IN the DT secondary JJ market NN : : 8.50 CD % NN one CD month NN ; : 8.50 CD % NN three CD months NNS ; : 8.45 CD % NN six CD months NNS . .
BANKERS NNS ACCEPTANCES NNS : : 8.38 CD % NN 30 CD days NNS ; : 8.28 CD % NN 60 CD days NNS ; : 8.23 CD % NN 90 CD days NNS ; : 8.13 CD % NN 120 CD days NNS ; : 8.03 CD % NN 150 CD days NNS ; : 7.93 CD % NN 180 CD days NNS . .
Negotiable JJ , , bank-backed JJ business NN credit NN instruments NNS typically RB financing VBG an DT import NN order NN . .
LONDON NNP LATE JJ EURODOLLARS NNS : : 8 CD 5\/8 CD % NN to TO 8 CD 1\/2 CD % NN one CD month NN ; : 8 CD 9\/16 CD % NN to TO 8 CD 7\/16 CD % NN two CD months NNS ; : 8 CD 9\/16 CD % NN to TO 8 CD 7\/16 CD % NN three CD months NNS ; : 8 CD 1\/2 CD % NN to TO 8 CD 3\/8 CD % NN four CD months NNS ; : 8 CD 7\/16 CD % NN to TO 8 CD 5\/16 CD % NN five CD months NNS ; : 8 CD 7\/16 CD % NN to TO 8 CD 5\/16 CD % NN six CD months NNS . .
LONDON NNP INTERBANK JJ OFFERED VBN RATES NNS -LRB- -LRB- LIBOR NNP -RRB- -RRB- : : 8 CD 5\/8 CD % NN one CD month NN ; : 8 CD 9\/16 CD % NN three CD months NNS ; : 8 CD 7\/16 CD % NN six CD months NNS ; : 8 CD 7\/16 CD % NN one CD year NN . .
The DT average NN of IN interbank NN offered VBN rates NNS for IN dollar NN deposits NNS in IN the DT London NNP market NN based VBN  on IN quotations NNS at IN five CD major JJ banks NNS . .
FOREIGN JJ PRIME JJ RATES NNS : : Canada NNP 13.50 CD % NN ; : Germany NNP 8.50 CD % NN ; : Japan NNP 4.875 CD % NN ; : Switzerland NNP 8.50 CD % NN ; : Britain NNP 15 CD % NN . .
These DT rate NN indications NNS are VBP n't RB directly RB comparable JJ ; : lending NN practices NNS vary VBP widely RB by IN location NN . .
TREASURY NN BILLS NNS : : Results NNS of IN the DT Monday NNP , , October NNP 16 CD , , 1989 CD , , auction NN of IN short-term JJ U.S. NNP government NN bills NNS , , sold VBN  at IN a DT discount NN from IN face NN value NN in IN units NNS of IN $ $ 10,000 CD  to TO $ $ 1 CD million CD  : : 7.37 CD % NN 13 CD weeks NNS ; : 7.42 CD % NN 26 CD weeks NNS . .
FEDERAL NNP HOME NNP LOAN NNP MORTGAGE NNP CORP NNP . . -LRB- -LRB- Freddie NNP Mac NNP -RRB- -RRB- : : Posted VBN yields NNS on IN 30-year JJ mortgage NN commitments NNS for IN delivery NN within IN 30 CD days NNS . .
9.88 CD % NN , , standard JJ conventional JJ fixed-rate JJ mortgages NNS ; : 7.875 CD % NN , , 2 CD % NN rate NN capped VBN one-year JJ adjustable JJ rate NN mortgages NNS . .
Source NN : : Telerate NNP Systems NNP Inc NNP . .
FEDERAL NNP NATIONAL NNP MORTGAGE NNP ASSOCIATION NNP -LRB- -LRB- Fannie NNP Mae NNP -RRB- -RRB- : : Posted VBN yields NNS on IN 30 CD year NN mortgage NN commitments NNS for IN delivery NN within IN 30 CD days NNS -LRB- -LRB- priced VBN  at IN par NN -RRB- -RRB- 9.80 CD % NN , , standard JJ conventional JJ fixed-rate JJ mortgages NNS ; : 8.70 CD % NN , , 6\/2 CD rate NN capped VBN one-year JJ adjustable JJ rate NN mortgages NNS . .
Source NN : : Telerate NNP Systems NNP Inc NNP . .
MERRILL NNP LYNCH NNP READY NNP ASSETS NNP TRUST NNP : : 8.50 CD % NN . .
Annualized JJ average JJ rate NN of IN return NN after IN expenses NNS for IN the DT past JJ 30 CD days NNS ; : not RB a DT forecast NN of IN future JJ returns NNS . .
Ethyl NNP Corp. NNP reported VBD that IN third-quarter JJ net JJ income NN fell VBD 12 CD % NN from IN a DT year-earlier JJ quarter NN  helped VBN  by IN a DT gain NN from IN discontinued VBN operations NNS . .
Profit NN from IN continuing VBG operations NNS rose VBD 19 CD % NN . .
The DT chemicals NNS and CC insurance NN company NN said VBD  net NN in IN the DT latest JJS quarter NN was VBD $ $ 54.8 CD million CD  , , or CC 45 CD cents NNS a DT share NN . .
In IN the DT year-earlier JJ quarter NN , , net NN was VBD $ $ 62.2 CD million CD  , , or CC 51 CD cents NNS a DT share NN . .
The DT previous-year JJ quarter NN included VBD $ $ 16.1 CD million CD  from IN businesses NNS spun VBN  off RP as IN Tredegar NNP Industries NNP Inc NNP . .
Revenue NN was VBD $ $ 613.7 CD million CD  , , up RB 18 CD % NN from IN $ $ 521.2 CD million CD  a DT year NN ago RB . .
Ethyl NNP said VBD  pretax JJ profit NN from IN its PRP$ insurance NN segment NN , , excluding VBG investment NN gains NNS , , rose VBD 28 CD % NN in IN the DT latest JJS quarter NN to TO $ $ 28.6 CD million CD  from IN $ $ 22.4 CD million CD  . .
In IN the DT chemicals NNS segment NN , , pretax JJ profit NN rose VBD 7 CD % NN to TO $ $ 69.2 CD million CD  from IN $ $ 64.9 CD million CD  . .
The DT company NN 's POS chemicals NNS interests NNS include VBP , , among IN other JJ things NNS , , petroleum NN additives NNS , , pharmaceuticals NNS ingredients NNS and CC polysilicon NN used VBN  by IN the DT semiconductor NN industry NN . .
For IN the DT nine CD months NNS , , Ethyl NNP said VBD  net NN fell VBD 2 CD % NN to TO $ $ 168.7 CD million CD  , , or CC $ $ 1.40 CD  a DT share NN , , from IN $ $ 172.2 CD million CD  , , $ $ 1.42 CD  a DT share NN , , a DT year NN ago RB . .
Net NN in IN the DT latest JJS period NN included VBD $ $ 11.9 CD million CD  from IN discontinued VBN operations NNS and CC a DT charge NN of IN $ $ 6.2 CD million CD  from IN a DT plant NN closing NN . .
In IN the DT year-ago JJ period NN , , net NN included VBD $ $ 32.7 CD million CD  from IN discontinued VBN operations NNS . .
Revenue NN was VBD $ $ 1.79 CD billion CD  , , up RB 18 CD % NN from IN $ $ 1.52 CD billion CD  a DT year NN earlier RBR . .
In IN New NNP York NNP Stock NNP Exchange NNP composite JJ trading NN , , Ethyl NNP closed VBN at IN $ $ 25.875 CD  a DT share NN , , up RB 12.5 CD cents NNS . .
Tribune NNP Co. NNP , ,  helped VBN  by IN a DT hefty JJ boost NN in IN performance NN at IN its PRP$ broadcasting NN and CC entertainment NN operations NNS , , said VBD  net JJ income NN jumped VBD 21 CD % NN in IN its PRP$ third JJ quarter NN ended VBN Sept. NNP 24 CD on IN a DT 3 CD % NN increase NN in IN revenue NN . .
The DT broadcasting NN and CC newspaper NN concern NN , , based VBN  in IN Chicago NNP , , said VBD  net NN was VBD $ $ 62.7 CD million CD  , , or CC 77 CD cents NNS a DT primary JJ share NN , , up RB from IN $ $ 51.6 CD million CD  , , or CC 69 CD cents NNS a DT share NN . .
Per-share JJ figures NNS this DT year NN reflect VBP $ $ 6.8 CD million CD  in IN preferred-share JJ dividends NNS ; : the DT 1988 CD quarter NN did VBD n't RB have VB such PDT a DT payout NN . .
Revenue NN rose VBD to TO $ $ 590.7 CD million CD  from IN $ $ 575.1 CD million CD  . .
Nine-month JJ net NN climbed VBD 19 CD % NN to TO $ $ 174.8 CD million CD  , , or CC $ $ 2.21 CD  a DT primary JJ share NN , , from IN $ $ 147.5 CD million CD  , , or CC $ $ 1.94 CD  a DT share NN . .
Nine-month JJ per-share JJ figures NNS for IN 1989 CD reflect VBP $ $ 12.9 CD million CD  in IN preferred JJ dividends NNS that WDT  had VBD no DT counterpart NN in IN the DT year-earlier JJ quarter NN . .
Revenue NN rose VBD 4 CD % NN to TO $ $ 1.79 CD billion CD  . .
In IN New NNP York NNP Stock NNP Exchange NNP composite JJ trading NN Friday NNP , , Tribune NNP closed VBD at IN $ $ 49.375 CD  , , down RB $ $ 4.75 CD  . .
Enserch NNP Corp. NNP said VBD  about RB 12 CD million CD , , or CC 93 CD % NN , , of IN the DT publicly RB traded VBN units NNS of IN its PRP$ limited JJ partnership NN , , Enserch NNP Exploration NNP Partners NNP Ltd. NNP , , were VBD tendered VBN  in IN response NN to TO an DT offer NN that WDT  expired VBD Monday NNP . .
Enserch NNP said VBD  the DT tendered VBN units NNS will MD raise VB its PRP$ ownership NN of IN the DT partnership NN to TO more JJR than IN 99 CD % NN from IN 87 CD % NN . .
About RB 900,000 CD units NNS will MD continue VB  to TO be VB publicly RB traded VBN  on IN the DT New NNP York NNP Stock NNP Exchange NNP , , Enserch NNP said VBD   . .
Enserch NNP had VBD offered VBN one-half NN a DT share NN of IN its PRP$ common JJ and CC $ $ 1 CD  in IN cash NN for IN each DT unit NN . .
The DT public JJ sector NN borrowing NN requirement NN , , the DT most RBS widely RB used VBN measure NN of IN Britain NNP 's POS government NN deficit NN or CC surplus NN , , showed VBD a DT deficit NN of IN # # 200 CD million CD  in IN September NNP , , compared VBN with IN a DT deficit NN of IN # # 765 CD million CD  in IN August NNP and CC a DT deficit NN of IN # # 1.08 CD billion CD  in IN September NNP 1988 CD , , the DT Treasury NNP said VBD   . .
In IN the DT six CD months NNS since IN the DT current JJ fiscal JJ year NN began VBD April NNP 1 CD , , the DT surplus NN totaled VBD # # 500 CD million CD  , , compared VBN with IN a DT surplus NN of IN # # 3.6 CD billion CD  in IN the DT year-earlier JJ period NN . .
The DT government NN is VBZ projecting VBG a DT # # 14 CD billion CD  surplus NN for IN the DT fiscal JJ year NN . .
The DT reported VBN figures NNS for IN the DT public JJ sector NN borrowing NN requirement NN include VBP receipts NNS from IN the DT sale NN of IN state-owned JJ industries NNS . .
 Excluding VBG those DT receipts NNS , , the DT government NN deficit NN would MD have VB totaled VBN about RB # # 2.5 CD billion CD  in IN the DT first JJ six CD months NNS , , compared VBN with IN # # 1.3 CD billion CD  a DT year NN earlier RBR , , the DT Treasury NNP said VBD   . .
French JJ crude-steel NN production NN in IN September NNP was VBD 1,616,000 CD metric JJ tons NNS , , unchanged JJ from IN a DT year NN earlier RBR , , according VBG to TO the DT National NNP Steel NNP Manufacturers NNP ' POS Association NN . .
The DT association NN said VBD  the DT September NNP total NN brought VBN French JJ output NN for IN the DT first JJ nine CD months NNS this DT year NN to TO 14,789,000 CD tons NNS , , up RB 4.5 CD % NN from IN a DT year NN earlier RBR . .
Prospect NNP Group NNP Inc. NNP , , whose WP$ recent JJ hostile JJ tender NN offer NN for IN Recognition NNP Equipment NNP Inc. NNP  failed VBD for IN lack NN of IN financing NN , , apparently RB has VBZ gained VBN a DT measure NN of IN control NN over IN the DT troubled JJ company NN anyway RB . .
As IN part NN of IN what WP a DT Recognition NNP spokeswoman NN termed VBD  an DT `` `` amiable JJ agreement NN , , '' '' Prospect NNP Group NNP will MD wind VB up RP with IN control NN of IN top JJ management NN posts NNS and CC an DT increased JJ stake NN in IN the DT maker NN of IN data NNS management NN equipment NN . .
In IN a DT management NN restructuring NN , , Thomas NNP L. NNP Ringer NNP resigned VBD as IN chairman NN , , chief JJ executive NN and CC a DT director NN , , while IN Israel NNP Sheinberg NNP resigned VBD as IN a DT director NN . .
Mr. NNP Sheinberg NNP remains VBZ as IN executive JJ vice NN president NN . .
Thomas NNP M. NNP Hurley NNP and CC Robert NNP A. NN Vanourek NNP , , who WP  had VBD been VBN designated VBN  to TO take VB over RP Recognition NNP 's POS top JJ spots NNS had VBD Prospect NNP 's POS tender NN offer NN succeeded VBN , , were VBD named VBN  co-chief JJ executives NNS and CC directors NNS . .
Mr. NNP Hurley NNP was VBD formerly RB a DT vice NN president NN and CC general JJ manager NN of IN an DT Avery NNP International NNP division NN ; : Mr. NNP Vanourek NNP was VBD a DT former JJ group NN vice NN president NN of IN Pitney NNP Bowes NNP Inc NNP . .
In IN addition NN , , the DT agreement NN calls VBZ for IN Gilbert NNP H. NNP Lamphere NNP , , chairman NN of IN Prospect NNP Group NNP 's POS executive JJ committee NN , , to TO be VB named VBN  chairman NN of IN a DT restructured VBN board NN that WDT  will MD include VB four CD new JJ independent JJ directors NNS . .
Also RB named VBN  to TO the DT revised JJ board NN was VBD  Thomas NNP A. NNP Loose NNP , , Recognition NNP 's POS senior JJ vice NN president NN and CC general JJ counsel NN . .
Prospect NNP , , a DT New NNP York-based JJ leveraged JJ buy-out NN firm NN , , also RB agreed VBD  to TO invest VB $ $ 15 CD million CD  in IN Recognition NNP , , which WDT  in IN turn NN agreed VBD  to TO repurchase VBN as RB much JJ as IN $ $ 20 CD million CD  of IN its PRP$ stock NN . .
That DT would MD increase VB Prospect NNP 's POS ownership NN of IN the DT company NN 's POS fully-diluted JJ shares NNS outstanding JJ to TO 20 CD % NN from IN 14.1 CD % NN . .
Under IN the DT agreement NN , , Prospect NNP is VBZ permitted VBN  to TO increase VB its PRP$ stake NN in IN Recognition NNP to TO 30 CD % NN . .
Beyond IN that DT , , Prospect NNP said VBD  it PRP would MD n't RB offer VB  to TO acquire VB additional JJ shares NNS for IN less JJR than IN $ $ 11.25 CD  a DT share NN during IN the DT next JJ year NN or CC less JJR than IN $ $ 14.06 CD  a DT share NN during IN the DT subsequent JJ two CD years NNS . .
Recognition NNP also RB said VBD  it PRP obtained VBD a DT commitment NN  from IN Chemical NNP Bank NNP and CC Bank NNP of IN Boston NNP  to TO convert VB an DT estimated JJ $ $ 18 CD million CD  in IN bank NN debt NN to TO a DT new JJ , , 24-month JJ secured JJ term NN loan NN   to TO be VB repaid VBN  through IN the DT sale NN of IN certain JJ assets NNS . .
In IN August NNP , , Recognition NNP said VBD  it PRP was VBD in IN violation NN of IN certain JJ terms NNS of IN its PRP$ debt NN agreements NNS with IN bank NN lenders NNS because IN of IN a DT $ $ 3.9 CD million CD  loss NN for IN the DT third JJ quarter NN ended VBN July NNP 31 CD . .
The DT company NN attributed VBD the DT loss NN to TO declining VBG revenue NN and CC litigation NN costs NNS relating VBG to TO criminal JJ charges NNS against IN the DT company NN and CC two CD former JJ executives NNS , , William NNP G. NNP Moore NNP Jr. NNP and CC Robert NNP W. NNP Reedy NNP . .
The DT former JJ executives NNS were VBD indicted VBN  last JJ October NNP on IN charges NNS of IN fraud NN , , theft NN and CC conspiracy NN related VBN to TO efforts NNS  by IN the DT company NN  to TO win VB $ $ 400 CD million CD  in IN Postal NNP Service NNP contracts NNS . .
Recognition NNP Equipment NNP said VBD  it PRP expected VBD  to TO put VB the DT agreement NN with IN Prospect NNP to TO a DT vote NN of IN its PRP$ stockholders NNS at IN a DT special JJ meeting NN in IN January NNP . .
In IN New NNP York NNP Stock NNP Exchange NNP composite JJ trading NN , , Recognition NNP rose VBD 87.5 CD cents NNS to TO $ $ 6.625 CD  . .
Prospect NNP slipped VBD 25 CD cents NNS to TO $ $ 10.50 CD  in IN national JJ over-the-counter JJ trading NN . .
General NNP Motors NNP Corp. NNP 's POS Chevrolet NNP division NN , ,  reacting VBG to TO slow JJ sales NNS , , said VBD  it PRP will MD offer VB $ $ 800 CD  rebates NNS on IN its PRP$ 1990 CD Beretta NNP , , the DT two-door JJ version NN of IN its PRP$ core JJ compact-car NN line NN . .
Sluggish JJ sales NNS of IN the DT Beretta NNP , , and CC its PRP$ four-door JJ sister JJ car NN , , the DT Corsica NNP , , prompted VBD GM NNP to TO idle VB the DT two CD plants NNS that WDT  build VBP the DT automobiles NNS for IN a DT total NN of IN three CD weeks NNS this DT month NN . .
The DT Corsica NNP and CC Beretta NNP make VBP up RP the DT highest-volume JJ car NN line NN at IN Chevrolet NN , , but CC sales NNS of IN the DT vehicles NNS are VBP off RB 9.6 CD % NN for IN the DT year NN , , and CC fell VBD a DT steep JJ 34 CD % NN during IN early JJ October NNP . .
Chevrolet NNP already RB is VBZ offering VBG an DT $ $ 800 CD  rebate NN on IN the DT 1990-model NN Corsica NNP . .
The DT latest JJS rebate NN is VBZ good JJ for IN all DT Beretta NNP models NNS . .
Chevrolet NNP buyers NNS can MD take VB the DT rebate NN , , or CC get VB discount NN financing NN at IN rates NNS ranging VBG from IN 6.9 CD % NN on IN 24-month JJ loans NNS to TO 10.9 CD % NN on IN 60-month JJ loans NNS . .
StatesWest NNP Airlines NNP said VBD  it PRP submitted VBD an DT offer NN  to TO the DT directors NNS of IN Mesa NNP Airlines NNP  to TO acquire VB the DT Farmington NNP , , N.M. NNP , , carrier NN . .
Except IN  to TO characterize VB its PRP$ offer NN as IN `` `` fair JJ and CC generous JJ and CC in IN the DT best JJS interests NNS of IN Mesa NNP shareholders NNS , , '' '' StatesWest NNP declined VBD  to TO discuss VB details NNS of IN its PRP$ proposal NN . .
It PRP also RB asked VBD Mesa NNP to TO keep VB the DT proposal NN confidential JJ . .
A DT Mesa NNP official NN confirmed VBD receipt NN of IN the DT offer NN and CC said VBD  directors NNS would MD meet VB  to TO consider VB it PRP . .
Last JJ week NN , , Mesa NNP rejected VBD a DT proposal NN  by IN StatesWest NNP  to TO acquire VB it PRP or CC merge VB . .
StatesWest NNP has VBZ a DT 7.25 CD % NN stake NN in IN Mesa NNP , , which WDT  operates VBZ 20 CD twin-engine JJ and CC two CD single-engine JJ turboprops NNS among IN 42 CD cities NNS in IN New NNP Mexico NNP , , Arizona NNP , , Wyoming NNP , , Colorado NNP and CC Texas NNP . .
StatesWest NNP operates VBZ four CD twin-engine JJ turboprop NN aircraft NN , ,  connecting VBG 10 CD cities NNS in IN California NNP , , Arizona NNP and CC Nevada NNP . .
The DT carrier NN has VBZ n't RB yet RB turned VBN a DT profit NN . .
The DT former JJ president NN of IN FirstSouth NNP F.A. NNP , , a DT defunct JJ Arkansas NNP thrift NN , , pleaded VBD guilty JJ to TO  conspiring VBG  to TO inflate VB the DT institution NN 's POS earnings NNS by IN  concealing VBG worthless JJ loan NN guarantees NNS . .
Roderick NNP D. NNP Reed NNP III NNP , , who WP  was VBD also RB chief JJ operating NN officer NN of IN FirstSouth NNP , , could MD receive VB a DT maximum JJ sentence NN of IN five CD years NNS in IN federal JJ prison NN and CC a DT $ $ 250,000 CD  fine NN . .
A DT sentencing NN date NN has VBZ n't RB been VBN set VBN  . .
Mr. NNP Reed NNP admitted VBD  he PRP conspired VBD  to TO conceal VB an DT agreement NN  not RB to TO enforce VB loan NN guarantees NNS executed VBN  by IN Dallas NNP real-estate NN developers NNS A. NN Starke NNP Taylor NNP III NNP and CC George NNP S. NNP Watson NNP , , both DT of IN whom WP  were VBD FirstSouth NNP stockholders NNS . .
Neither CC Mr. NNP Taylor NNP nor CC Mr. NNP Watson NNP have VBP been VBN charged VBN  with IN criminal JJ wrongdoing NN . .
By IN  concealing VBG the DT non-enforcement JJ agreement NN , , certain JJ transactions NNS with IN Messrs. NNP Taylor NNP and CC Watson NNP were VBD entered VBN  on IN FirstSouth NNP 's POS books NNS as IN loans NNS , ,  allowing VBG the DT thrift NN to TO report VB fees NNS and CC interest NN as IN current JJ income NN , , according VBG to TO the DT U.S. NNP attorney NN 's POS office NN in IN Little NNP Rock NNP , , Ark NNP . .
The DT conspiracy NN was VBD part NN of IN an DT effort NN  by IN Mr. NNP Reed NNP  to TO hide VB FirstSouth NNP 's POS shaky JJ financial JJ condition NN from IN federal JJ regulators NNS , , according VBG to TO federal JJ prosecutors NNS and CC regulators NNS . .
The DT $ $ 1.68 CD billion CD  thrift NN was VBD declared VBN  insolvent JJ and CC closed VBN  in IN December NNP 1986 CD . .
FirstSouth NNP 's POS former JJ chairman NN and CC chief JJ executive JJ officer NN , , Howard NNP Weichern NNP , , is VBZ also RB charged VBN  with IN  conspiring VBG  to TO conceal VB the DT agreements NNS with IN Messrs. NNPS Watson NNP and CC Taylor NNP . .
Mr. NNP Weichern NNP is VBZ scheduled VBN  for IN trial NN Jan. NNP 3 CD before IN federal JJ Judge NNP Stephen NNP Reasoner NNP of IN Little NNP Rock NNP . .
I PRP approached VBD `` `` Mastergate NNP , , '' '' Larry NNP Gelbart NNP 's POS new JJ comedy NN at IN the DT Criterion NNP Center NNP , , with IN considerable JJ trepidation NN . .
Nothing NNP , , I PRP assumed VBD   , , would MD be VB more RBR hopelessly RB dated JJ than IN a DT political JJ satire NN on IN the DT Iran-Contra NNP affair NN . .
I PRP had VBD underestimated VBN , , however RB , , both CC Mr. NNP Gelbart NNP 's POS wit NN and CC the DT persistence NN of IN scandal NN in IN Washington NNP . .
Though IN the DT play NN clearly RB is VBZ framed VBN  around IN the DT events NNS of IN Iran-Contra NNP , , it PRP takes VBZ in RP the DT wide JJ sweep NN of IN scandals NNS over IN the DT past JJ 30 CD years NNS . .
In IN fact NN , , at IN one CD point NN Merry NNP Chase NNP -LRB- -LRB- Melinda NNP Mullins NNP -RRB- -RRB- , , a DT cool JJ , , carefully RB coiffed JJ television NN announcer NN , , recites VBZ a DT list NN of IN a DT dozen NN or CC more JJR scandals NNS of IN recent JJ years NNS , ,  concluding VBG with IN those DT affecting VBG the DT Department NNP of IN Housing NNP and CC Urban NNP Development NNP and CC the DT savings NNS and CC loan NN industry NN . .
Onstage RB , , a DT congressional JJ hearing NN  is VBZ in IN progress NN , , complete JJ with IN elegant JJ crystal NN chandelier NN overhead RB and CC a DT lifesize JJ reproduction NN of IN the DT signing NN of IN the DT Constitution NNP in IN the DT background NN . .
The DT witness NN table NN is VBZ center RB stage NN and CC below IN it PRP , , the DT paraphernalia NNS for IN the DT ever-present JJ media NNS , , in IN this DT case NN TNN NNP , , the DT Total NNP News NNP Network NNP . .
Not RB only RB are VBP  there RB camera NN operators NNS on IN all DT sides NNS , , but CC the DT proceedings NNS are VBP shown VBN  on IN monitors NNS throughout IN the DT theater NN . .
The DT metaphor NN of IN theater NN is VBZ not RB entirely RB coincidental JJ . .
Mr. NNP Gelbart NNP clearly RB feels VBZ that IN all PDT the DT participants NNS in IN a DT congressional JJ hearing NN -- : the DT witnesses NNS , , the DT lawyers NNS , , the DT interrogators NNS and CC the DT news NN media NNS -- : are VBP performers NNS . .
As IN the DT story NN of IN `` `` Mastergate NNP '' '' unfolds VBZ , , we PRP learn VBP that IN the DT Internal NNP Revenue NNP Service NNP confiscated VBD one CD of IN the DT properties NNS of IN a DT foreign JJ financier NN who WP  owes VBZ the DT government NN millions NNS in IN taxes NNS . .
The DT man NN , , it PRP seems VBZ   , , has VBZ a DT Lichtenstein NNP corporation NN , , licensed VBN  in IN Libya NNP and CC sheltered VBN  in IN the DT Bahamas NNPS . .
He PRP himself PRP lives VBZ in IN a DT `` `` consecutive JJ series NN of IN unnumbered JJ houses NNS in IN a DT town NN in IN Switzerland NNP . . '' ''
The DT property NN seized VBN  by IN the DT IRS NNP is VBZ a DT Hollywood NNP film NN studio NN , , Master NNP Pictures NNP Incorporated NNP -LRB- -LRB- MPI NNP -RRB- -RRB- . .
Supposedly NNP the DT IRS NNP will MD sell VB off RP the DT assets NNS of IN MPI NNP , , but CC before IN it PRP can MD  , , a DT lowly JJ IRS NNP agent NN is VBZ called VBN  into IN the DT hospital NN room NN of IN Wylie NNP Slaughter NNP , , the DT dying VBG head NN of IN the DT Central NNP Intelligence NNP Agency NNP . .
The DT lowly JJ agent NN , , Abel NNP Lamb NNP , , who WP as IN you PRP might MD guess VB   , ,  is VBZ being VBG led VBN  to TO the DT slaughter NN , , is VBZ ordered VBN   to TO take VB over RP the DT studio NN . .
Soon RB the DT studio NN is VBZ producing VBG a DT $ $ 40 CD million CD  picture NN called VBN  `` `` Tet NNP , , the DT Motion NNP Picture NNP , , '' ''  to TO distinguish VB it PRP from IN `` `` Tet NNP , , the DT Offensive NNP , , '' '' as RB well RB as IN `` `` Tet NNP , , the DT Book NNP '' '' and CC `` `` Tet NNP , , the DT Album NNP . . '' ''
The DT picture NN , ,   to TO be VB made VBN  in IN the DT Central JJ American JJ country NN of IN San NNP Elvador NNP , , is VBZ a DT cover NN for IN  sending VBG $ $ 800 CD million CD  of IN arms NNS to TO Los NNP Otros NNP , , the DT rebel JJ group NN attempting VBG  to TO regain VB neighboring JJ Ambigua NNP , , which WDT  has VBZ been VBN taken VBN  over RP by IN the DT leftist JJ dictator NN Dr. NNP Overtega NNP , , a DT former JJ podiatrist NN , , who WP  leads VBZ a DT revolutionary JJ band NN of IN foot NN soldiers NNS . .
The DT man NN handling VBG all PDT this DT for IN the DT now-deceased JJ Slaughter NNP is VBZ Major NNP Manley NNP Battle NNP , , Mr. NNP Gelbart NNP 's POS stand NN in RP for IN Col. NNP Oliver NNP North NNP . .
Director NNP Michael NNP Engler NNP has VBZ assembled VBN a DT top-flight JJ cast NN   to TO carry VB out RP the DT impersonations NNS of IN well-known JJ political JJ figures NNS and CC to TO play VB the DT stock JJ characters NNS who WP  invariably RB show VB up RP at IN congressional JJ hearings NNS . .
Daniel NNP von NNP Bargen NNP is VBZ ramrod-stiff JJ but CC totally RB assured JJ as IN Major NNP Battle NNP , ,  mixing VBG just RB the DT right JJ brand NN of IN self-righteousness NN and CC patriotism NN ; : Jeff NNP Weiss NNP is VBZ fire NN , , brimstone NN and CC teary-eyed JJ emotionalism NN as IN the DT far-right JJ senator NN who WP  serves VBZ as IN a DT friendly JJ interrogator NN of IN Major NNP Battle NNP ; : Zach NNP Grenier NNP is VBZ maddeningly RB officious JJ  playing VBG a DT succession NN of IN lawyers NNS ; : Joseph NNP Daly NNP has VBZ the DT perfect JJ `` `` aw UH , , shucks UH '' '' demeanor NN of IN George NNP Bush NNP in IN his PRP$ portrayal NN of IN the DT vice NN president NN ; : and CC Ann NNP McDonough NNP is VBZ first-rate JJ as IN a DT succession NN of IN witnesses NNS ' POS wives NNS . .
With IN one CD she PRP is VBZ pregnant JJ , , with IN Major NNP Battle NNP she PRP is VBZ knitting VBG an DT American JJ flag NN , , and CC as IN the DT vice NN president NN 's POS wife NN she PRP rushes VBZ in RB with IN white JJ hair NN , ,  wearing VBG a DT tailored JJ suit NN and CC pearls NNS , ,  imitating VBG Barbara NNP Bush NNP 's POS gestures NNS down IN to TO the DT last JJ detail NN . .
Though IN it PRP  's VBZ clear JJ that IN Mr. NNP Gelbart NNP 's POS sympathies NNS do VBP not RB lie VB with IN the DT far RB right JJ , , it PRP  's VBZ also RB true JJ that IN he PRP is VBZ evenhanded JJ in IN  dispensing VBG his PRP$ satirical JJ jabs NNS , ,  taking VBG sharp JJ aim NN at IN senators NNS and CC congressmen NNS of IN all DT stripes NNS and CC particularly RB at IN the DT media NNS . .
Mr. NNP Gelbart NNP also RB has VBZ fun NN with IN language NN . .
`` `` Mastergate NNP '' '' is VBZ subtitled VBN  `` `` a DT play NN on IN words NNS , , '' '' and CC Mr. NNP Gelbart NNP plays VBZ that DT game NN as RB well RB as IN anyone NN . .
He PRP describes VBZ a DT Mastergate NNP flunky NN as IN one NN who WP  experienced VBD a DT `` `` meteoric JJ disappearance NN '' '' and CC found VBD himself PRP `` `` handling VBG blanket NN appeals NNS at IN the DT Bureau NNP of IN Indian NNP Affairs NNP . . '' ''
This DT interest NN in IN words NNS goes VBZ beyond IN puns NNS and CC playfulness NN , , however RB . .
Mr. NNP Gelbart NNP deplores VBZ the DT obfuscation NN , , the DT circumlocution NN and CC the DT debasement NN of IN language NN  he PRP sees VBZ  on IN all DT sides NNS . .
As IN the DT hearings NNS begin VBP , , the DT self-important JJ Sen. NNP Bowman NNP -LRB- -LRB- Jerome NNP Kilty NNP -RRB- -RRB- announces VBZ : : `` ``  Let VB me PRP emphaticize VB one CD thing NN at IN the DT outset NN : : We PRP are VBP not RB looking VBG for IN hides NNS   to TO skin NN  nor CC goats NNS   to TO scape VB  . . '' ''
Major NNP Battle NNP himself PRP speaks VBZ in IN pure JJ Pentagonese NNP : : `` `` Without IN further JJ monetary-stroke-military JJ aid NN , , scores NNS of IN Ambiguan JJ freedom NN lovers NNS , , who WP  had VBD gone VBN way RB out IN on IN their PRP$ life NN and CC limbs NNS for IN us PRP , , were VBD literally RB cut VBN  off RP at IN the DT knees NNS without IN a DT paddle NN . . '' ''
At IN another DT point NN he PRP intones VBZ : : `` `` Publicity NN is VBZ a DT small JJ price NN   to TO pay VB  for IN secrecy NN . . '' ''
The DT evening NN is VBZ short JJ -- : 95 CD minutes NNS without IN an DT intermission NN -- : but CC even RB so RB , , as IN the DT play NN progresses VBZ the DT thrust NN of IN Mr. NNP Gelbart NNP 's POS satire NN loses VBZ its PRP$ sharpness NN as IN his PRP$ targets NNS pop VBP up RP ever RB more RBR predictably RB . .
Most RBS of IN the DT evening NN , , though RB , , is VBZ filled VBN  with IN rare JJ and CC welcome JJ wit NN . .
In IN `` `` Mastergate NNP , , '' '' Mr. NNP Gelbart NNP has VBZ provided VBN us PRP not RB just RB one CD but CC two CD commodities NNS that WDT  have VBP all RB but RB disappeared VBD from IN the DT Broadway NNP theater NN : : sharp JJ political JJ satire NN and CC an DT even RB sharper JJR appreciation NN of IN the DT value NN of IN language NN . .
The DT Federal NNP National NNP Mortgage NNP Association NNP set VBD up RP a DT three-member JJ office NN of IN the DT chairman NN and CC elected VBD James NNP A. NN Johnson NNP as IN vice NN chairman NN , ,  effective JJ Jan. NNP 1 CD . .
Mr. NNP Johnson NNP has VBZ been VBN a DT managing NN director NN at IN Shearson NNP Lehman NNP Hutton NNP since IN 1985 CD , , and CC before IN that DT was VBD president NN of IN Public NNP Strategies NNP , , a DT Washington NNP consulting NN firm NN . .
He PRP is VBZ well-known JJ in IN Democratic JJ circles NNS , ,  having VBG been VBN executive JJ assistant NN to TO Vice NNP President NNP Walter NNP Mondale NNP and CC chairman NN of IN Mr. NNP Mondale NNP 's POS 1984 CD presidential JJ campaign NN . .
At IN Fannie NNP Mae NNP , , he PRP will MD take VB responsibility NN for IN the DT corporation NN 's POS financial JJ and CC legal JJ areas NNS and CC will MD work VB with IN David NNP Maxwell NNP , , chairman NN and CC chief JJ executive JJ officer NN , , and CC Roger NNP Birk NNP , , president NN and CC chief NN operating NN officer NN , , on IN strategic JJ planning NN . .
Mr. NNP Johnson NNP , , 45 CD years NNS old JJ , , has VBZ been VBN a DT consultant NN on IN strategy NN to TO Fannie NNP Mae NNP for IN the DT past JJ 3 CD 1\/2 CD years NNS . .
In IN an DT interview NN , , he PRP said VBD  Fannie NNP Mae NNP faces VBZ a DT number NN of IN challenges NNS with IN the DT restructuring NN of IN the DT thrift NN industry NN and CC the DT push NN  to TO broaden VB its PRP$ activities NNS overseas RB . .
`` `` There EX 's VBZ no DT shortage NN of IN major JJ things NNS   to TO do VB  , , '' '' he PRP said VBD  . .
Fannie NNP Mae NNP also RB said VBD  James NNP A. NNP Aliber NNP , , chairman NN of IN First NNP Federal NNP of IN Michigan NNP and CC a DT director NN since IN 1985 CD , , moved VBD up RP the DT date NN of IN his PRP$ retirement NN from IN the DT board NN  to TO accommodate VB Mr. NNP Johnson NNP 's POS election NN as IN a DT director NN . .
The DT board NN has VBZ 13 CD members NNS elected VBN  by IN holders NNS and CC five CD presidential JJ appointees NNS . .
Fannie NNP Mae NNP , , a DT federally RB chartered JJ , , shareholder-owned JJ corporation NN , , operates VBZ a DT secondary JJ market NN for IN mortgage NN loans NNS , ,  buying VBG loans NNS from IN lenders NNS , , packaging VBG some DT into IN securities NNS for IN sale NN to TO investors NNS and CC keeping VBG the DT rest NN in IN its PRP$ portfolio NN . .
`` `` The DT New JJ Crowd NN '' '' by IN Judith NNP Ramsey NNP Ehrlich NNP and CC Barry NNP J. NNP Rehfeld NNP -LRB- -LRB- Little NNP , , Brown NNP , , 444 CD pages NNS , , $ $ 19.95 CD  -RRB- -RRB- , , describes VBZ the DT displacing NN of IN the DT old JJ `` `` our PRP$ crowd NN '' '' Jewish JJ Wall NNP Street NNP banking NN grandees NNS by IN such JJ new JJ business NN barons NNS as IN Saul NNP Steinberg NNP , , Carl NNP Icahn NNP , , Sanford NNP Weill NNP and CC Bruce NNP Wasserstein NNP . .
Its PRP$ many JJ lively JJ stories NNS include VBP the DT Gutfreund-Postel NNP holiday NN cheer NN imbroglio NN . .
These DT two CD New NNP Crowd NNP families NNS lived VBD in IN the DT same JJ apartment NN building NN , , with IN the DT Postel NNP penthouse NN perched VBN  on IN top NN of IN the DT Gutfreund NNP duplex NN . .
The DT penthouse NN elevator NN started VBD up RB from IN the DT Gutfreund NNP landing NN , , and CC Susan NNP Gutfreund NNP used VBD  to TO turn VB off RP its PRP$ light NN , ,  to TO give VB the DT impression NN that IN there EX was VBD no DT higher JJR floor NN . .
Eventually RB , , Mr. NNP Postel NNP broke VBD his PRP$ toe NN in IN the DT dark NN . .
Then RB the DT Gutfreunds NNPS determined VBD  to TO put VB up RP a DT 22-foot JJ Christmas NNP tree NN , , weighing VBG a DT quarter NN of IN a DT ton NN , ,  to TO amaze VB their PRP$ holiday NN guests NNS . .
For IN this DT , , a DT crane NN needed VBD  to TO be VB mounted VBN  on IN the DT Postels NNPS ' POS terrace NN . .
The DT Postels NNPS did VBD not RB give VB permission NN . .
But CC the DT Gutfreund NNP workers NNS went VBD ahead RB anyway RB , ,  only RB to TO be VB captured VBN  `` `` in FW flagrante FW '' '' by IN Joan NNP Postel NNP , , who WP  called VBD the DT police NN . .
Before IN the DT Gutfreunds NNPS finally RB left VBD this DT unfriendly JJ environment NN for IN a DT prodigious JJ duplex NN on IN Fifth NNP Avenue NNP and CC an DT 18th-century JJ mansion NN with IN a DT specially RB excavated VBN $ $ 1 CD million CD  garage NN in IN Paris NNP , , the DT Postels NNPS had VBD obtained VBN an DT injunction NN   to TO prevent VB any DT future NN hoisting NN of IN trees NNS , , and CC in IN a DT neighborly JJ spirit NN hit VBD both DT the DT Gutfreunds NNPS and CC the DT building NN with IN a DT $ $ 35 CD million CD  lawsuit NN . .
Nothing NN less RBR , , it PRP seemed VBD   , , could MD console VB them PRP for IN their PRP$ traumas NNS . .
Where WRB had VBD all PDT the DT money NN come VBN from IN  ? .
The DT young JJ John NNP Gutfreund NNP had VBD been VBN discovered VBN  by IN Billy NNP Salomon NNP of IN Salomon NNP Bros. NNP when WRB he PRP was VBD still RB a DT bearded JJ liberal NN  , , and CC put VBN  to TO work VB as IN a DT trader NN , , and CC then RB as IN a DT rough-and-tumble JJ syndicator NN . .
`` `` ` ``  Get VB off IN your PRP$ ... : , , ' '' he PRP would MD bellow VB  , , '' '' say VBP  the DT authors NNS . .
 Rising VBG in IN the DT firm NN , , he PRP became VBD powerful JJ and CC bland JJ , , though IN his PRP$ new JJ wife NN , , Susan NNP , , made VBD him PRP shine VB in IN the DT gossip NN columns NNS with IN her PRP$ profligate JJ spending NN habits NNS and CC flamboyant JJ frocks NNS . .
After IN he PRP had VBD been VBN head NN of IN the DT company NN for IN 3 CD 1\/2 CD years NNS , , he PRP and CC his PRP$ partners NNS sold VBD it PRP to TO Phibro NNP , , a DT powerful JJ commodity NN trading NN outfit NN , , for IN $ $ 550 CD million CD  in IN Phibro NNP stock NN . .
Limited JJ partner NN Billy NNP Salomon NNP , , whose WP$ family NN name NN  had VBD been VBN on IN the DT firm NN 's POS door NN for IN 70 CD years NNS and CC who WP  had VBD hoped VBN  it PRP would MD be VB there RB forever RB , , was VBD not RB consulted VBN  . .
Mr. NNP Gutfreund NNP collected VBD $ $ 32 CD million CD  , , while IN Billy NNP Salomon NNP got VBD $ $ 10 CD million CD  , , much RB less JJR than IN if IN he PRP had VBD conducted VBN the DT sale NN . .
`` `` I PRP felt VBD betrayed VBN , , '' '' he PRP later RB said VBD  . .
Worse RBR , , Salomon NNP 's POS timing NN had VBD been VBN off RB . .
Its PRP$ profits NNS , , unlike IN Phibro NNP 's POS , , soared VBD over IN the DT next JJ two CD years NNS , , and CC had VBD it PRP held VBN out RP , , Salomon NNP could MD have VB gotten VBN an DT even RB bigger JJR bundle NN . .
The DT book NN also RB recounts VBZ the DT not RB dissimilar JJ maneuvers NNS surrounding VBG the DT changing NN of IN the DT guard NN at IN Lehman NNP Bros. NNP and CC other JJ grand JJ old JJ firms NNS . .
Often RB the DT genteel JJ , , conservative JJ , , long-term-oriented JJ investment NN bankers NNS were VBD displaced VBN  by IN crude JJ traders NNS : : `` `` When WRB  angered VBN   , , he PRP cursed VBD so RB forcefully RB that IN his PRP$ face NN reddened VB and CC his PRP$ pale-blue JJ eyes NNS narrowed VBD into IN tiny JJ slits NNS , , '' '' the DT authors NNS say VBP  of IN Lehman NNP 's POS Lewis NNP Glucksman NNP . .
The DT earlier JJR generation NN of IN `` `` our PRP$ crowd NN '' '' bankers NNS -- : Belmonts NNPS , , Warburgs NNPS , , Lehmans NNPS , , Baches NNPS and CC Schiffs NNPS -- : had VBD stressed VBN above IN all DT probity NN , , tradition NN , , continuity NN and CC reputation NN . .
They PRP were VBD old-fashioned JJ elegant JJ gentlemen NNS , , who WP  happened VBD  to TO be VB of IN German JJ Jewish JJ extraction NN . .
But CC in IN the DT harsh JJ world NN of IN today NN 's POS Wall NNP Street NNP they PRP have VBP lost VBN out RP to TO more RBR aggressive JJ and CC sometimes RB less RBR scrupulous JJ successors NNS . .
The DT cuckoo NN prefers VBZ the DT nests NNS of IN other JJ birds NNS and CC heaves VBD out RP their PRP$ eggs NNS . .
But CC the DT old JJ guard NN hired VBD the DT New NNP Crowd NNP people NNS : : It PRP brought VBD in IN its PRP$ own JJ cuckoos NNS . .
So RB , , as IN the DT Old NNP Crowd NNP toppled VBD from IN the DT branch NN , , it PRP should MD n't RB have VB been VBN too RB surprised JJ . .
The DT old JJ guard NN had VBD every DT right NN  , , however RB , ,  to TO disdain VB the DT newcomers NNS ' POS new JJ ways NNS of IN  making VBG money NN , , such JJ as IN greenmail NN . .
-LRB- -LRB- A DT Fortune NNP article NN on IN Saul NNP Steinberg NNP was VBD entitled VBN  , , `` `` Fear NN and CC Loathing NN in IN the DT Corporate JJ Boardrooms NNS . . '' '' -RRB- -RRB-
Their PRP$ other JJ staple NN has VBZ been VBN corporate JJ takeovers NNS , , often RB hostile JJ and CC financed VBN  by IN junk NN bonds NNS . .
Hostile JJ takeovers NNS are VBP quite PDT a DT new JJ phenomenon NN . .
Sometimes RB they PRP are VBP constructive JJ , , but CC often RB not RB . .
First RB , , by IN  making VBG management NN focus NN on IN short-term JJ results NNS , , they PRP inhibit VBP  building VBG for IN the DT future NN -- : just RB the DT opposite JJ of IN Japan NNP . .
Second RB , , a DT long-term JJ shareholder NN of IN a DT good JJ company NN need MD n't RB worry VB too RB much RB when WRB the DT stock NN price NN drops VBZ temporarily RB  : : It PRP will MD bounce VB back RP . .
But CC if IN a DT raider NN takes VBZ over RP when WRB the DT stock NN is VBZ weak JJ  , , the DT shareholder NN never RB gets VBZ his PRP$ recovery NN . .
The DT raiders NNS , , meanwhile RB , , have VBP evolved VBN their PRP$ own JJ pattern NN for IN  spending VBG their PRP$ new JJ millions NNS . .
As IN  described VBN  in IN `` `` The DT New JJ Crowd NN , , '' '' they PRP take VBP on RP ambitious JJ new JJ wives NNS , , move VBP to TO Greenwich NNP , , Conn. NNP , , or CC Bedford NNP , , N.Y. NNP , , buy VBP OK JJ pictures NNS , , and CC let VBP their PRP$ wives NNS share VB the DT wealth NN with IN decorators NNS . .
 Having VBG donated VBN heavily RB to TO museums NNS , , they PRP demand VBP a DT place NN on IN their PRP$ boards NNS . .
The DT book NN is VBZ patronizing JJ about IN this DT nouveau JJ riche JJ struggle NN for IN respectability NN , , which WDT  has VBZ its PRP$ tawdry JJ aspects NNS . .
However RB , , on IN balance NN , , the DT charity NN game NN helps VBZ America NNP . .
If IN those DT who WP  have VBP the DT money NN do VBP n't RB get VB involved JJ with IN the DT museums NNS and CC the DT charities NNS , , then RB City NNP Hall NNP will MD do VB it PRP , , badly RB . .
It PRP  has VBZ been VBN rightly RB observed VBN  that IN the DT main JJ thing NN wrong JJ with IN tainted JJ money NN is VBZ , ,  t' PRP ai VBZ nt RB enough NN of IN it PRP . .
A DT handful NN of IN the DT New NNP Crowd NNP operators NNS have VBP crossed VBN the DT line NN from IN the DT immoral JJ to TO the DT illegal JJ , , and CC have VBP ended VBN up RP in IN the DT slammer NN or CC  paying VBG huge JJ fines NNS : :
Ivan NNP Boesky NNP , , Dennis NNP Levine NNP , , Martin NNP Siegel NNP , , Victor NNP and CC Steven NNP Posner NNP , , and CC now RB Michael NNP Milken NNP and CC perhaps RB Leona NNP Helmsley NNP . .
The DT glitzy JJ office NN that WDT Ivan NNP Boesky NNP vacated VBD  for IN a DT prison NN cell NN had VBD previously RB contained VBN commodity NN operators NNS Marc NNP Rich NNP and CC `` `` Pinky NNP '' '' Green NNP , , today NN fugitives NNS from IN a DT potential JJ century NN apiece RB of IN jail NN sentences NNS . .
The DT Old NNP Crowd NNP is VBZ deeply RB concerned JJ by IN the DT backlash NN from IN all PDT this DT . .
However RB , , the DT phenomenon NN is VBZ not RB specifically RB Jewish JJ . .
It PRP  has VBZ always RB been VBN true JJ that IN those DT outside IN the DT club NN want VBP  to TO climb VB in RB , , and CC that IN a DT few JJ will MD cut VB corners NNS in IN the DT process NN . .
Some DT pretty RB seamy JJ stuff NN built VBD the DT turn-of-the-century JJ families NNS ' POS Fifth NNP Avenue NNP and CC Newport NNP palazzi NNS and CC endowed VBD their PRP$ daughters NNS ' POS weddings NNS to TO foreign JJ noblemen NNS . .
Mr. NNP Boesky NNP was VBD a DT piker NN compared VBN to TO Jay NNP Gould NNP and CC Jim NNP Fiske NNP , , and CC Commodore NNP Vanderbilt NNP thought VBD nothing NN of IN  bribing VBG judges NNS and CC legislators NNS . .
So RB who WP  knows VBZ ? .
In IN a DT generation NN or CC two CD some DT of IN the DT New NNP Crowd NNP may MD attain VB true JJ respectability NN , ,  perhaps RB to TO be VB displaced VBN  in IN turn NN by IN a DT later JJ flock NN of IN unscrupulous JJ raptors NNS . .
Or CC perhaps RB Wall NNP Street NNP , , when WRB it PRP has VBZ suffered VBN enough RB  , , will MD realize VB that DT finance NN is VBZ a DT service NN industry NN , , and CC change VB its PRP$ ethos NN . .
Mr. NNP Train NNP is VBZ president NN of IN Train NNP , , Smith NNP Investment NNP Counsel NNP , , New NNP York NNP . .
Dallas NNP investor NN Harold NNP C. NNP Simmons NNP said VBD  he PRP raised VBD his PRP$ stake NN in IN Lockheed NNP Corp. NNP to TO 10.62 CD % NN from IN 10.43 CD % NN of IN the DT aerospace NN and CC electronics NN concern NN 's POS common JJ shares NNS . .
In IN a DT Securities NNP and CC Exchange NNP Commission NNP filing NN , , Mr. NNP Simmons NNP said VBD  he PRP and CC companies NNS  he PRP controls VBZ  , , NL NNP Industries NNP Inc. NNP and CC NL NNP Chemicals NNP Inc. NNP , , hold VBP 6,744,600 CD shares NNS of IN Lockheed NNP , , of IN Calabasas NNP , , Calif NNP . .
They PRP include VBP 122,700 CD shares NNS bought VBD  Friday NNP for IN between IN $ $ 47.125 CD and CC $ $ 48 CD  each DT . .
In IN composite JJ trading NN on IN the DT New NNP York NNP Stock NNP Exchange NNP , , Lockheed NNP closed VBD at IN $ $ 46.125 CD  a DT share NN , , down RB 12.5 CD cents NNS . .
Earlier RBR this DT week NN , , Mr. NNP Simmons NNP objected VBD to TO published VBN reports NNS quoting VBG him PRP as IN  saying VBG  he PRP planned VBD  to TO sell VB his PRP$ Lockheed NNP stake NN because IN `` `` the DT defense NN industry NN seems VBZ  to TO be VB getting VBG more RBR uncertain JJ . . '' ''
Valhi NNP Inc. NNP , , another DT of IN Mr. NNP Simmons NNP ' POS companies NNS , , responded VBD to TO an DT article NN Monday NNP in IN The DT Wall NNP Street NNP Journal NNP , , which WDT  credited VBD a DT story NN in IN the DT Sunday NNP Los NNP Angeles NNP Daily NNP News NNP . .
Valhi NNP said VBD  the DT articles NNS did VBD n't RB accurately RB reflect VB Valhi NNP and CC its PRP$ affiliates NNS ' POS intentions NNS toward IN Lockheed NNP . .
Instead RB , , Valhi NNP said VBD   , , they PRP may MD increase VB , , decrease VB or CC retain VB their PRP$ Lockheed NNP holdings NNS , , depending VBG on IN a DT number NN of IN conditions NNS . .
Canada NNP , , which WDT  is VBZ preparing VBG  to TO speed VB up RP tariff NN cuts NNS with IN the DT U.S. NNP , , recorded VBD a DT 47 CD % NN narrowing NN in IN its PRP$ trade NN surplus NN with IN the DT U.S. NNP in IN August NNP , , Statistics NNP Canada NNP , , a DT federal JJ agency NN , , reported VBD   . .
U.S. NNP exports NNS to TO Canada NNP jumped VBD 11.2 CD % NN in IN August NNP from IN July NNP while IN U.S. NNP imports NNS from IN Canada NNP rose VBD only RB 2.7 CD % NN . .
As IN a DT result NN , , Canada NNP 's POS trade NN surplus NN with IN the DT U.S. NNP narrowed VBD to TO C$ $ 656.5 CD million CD  -LRB- -LRB- US$ $ 558 CD million CD  -RRB- -RRB- in IN August NNP from IN C$ $ 1.23 CD billion CD  -LRB- -LRB- US$ $ 1.04 CD billion CD  -RRB- -RRB- in IN July NNP . .
U.S. NNP exports NNS benefited VBD in IN August NNP from IN heavy JJ Canadian JJ spending NN on IN new JJ plant NN and CC equipment NN and CC a DT pickup NN in IN Canadian JJ auto NN demand NN , , Canadian JJ officials NNS said VBD   . .
The DT U.S. NNP and CC Canada NNP , , which WDT  do VBP more JJR trade NN than IN any DT other JJ pair NN of IN nations NNS , , are VBP  to TO meet VB next JJ month NN  to TO arrange VB an DT acceleration NN of IN planned JJ tariff NN cuts NNS under IN the DT U.S.-Canada NNP free JJ trade NN agreement NN . .
Industries NNS in IN both DT countries NNS have VBP requested VBN a DT speedup NN of IN tariff NN cuts NNS on IN hundreds NNS of IN products NNS . .
Some DT tariffs NNS were VBD eliminated VBN  when WRB the DT trade NN pact NN took VBD effect NN Jan. NNP 1 CD  . .
The DT remainder NN were VBD  to TO be VB phased VBN  out RP in IN five CD or CC 10 CD annual JJ installments NNS , , with IN all DT tariffs NNS eliminated VBN  by IN January NNP 1998 CD . .
The DT two CD countries NNS aim VBP  to TO reach VB an DT agreement NN  by IN early JJ December NNP on IN a DT package NN of IN accelerated JJ tariff NN cuts NNS that WDT  would MD take VB effect VB early RB next JJ year NN . .
Canadian JJ officials NNS said VBD  the DT trade NN pact NN has VBZ kindled VBN an DT export NN interest NN among IN many JJ small JJ Canadian JJ companies NNS that WDT  previously RB had VBD little JJ or CC no RB foreign JJ sales NNS . .
For IN such JJ businessmen NNS , , the DT Canadian JJ government NN is VBZ organizing VBG 55 CD missions NNS this DT year NN to TO U.S. NNP states NNS bordering VBG on IN Canada NNP . .
The DT businessmen NNS are VBP introduced VBN  to TO potential JJ agents NNS and CC distributors NNS and CC instructed VBN  in IN trade NN procedures NNS . .
The DT U.S. NNP Commerce NNP Department NNP is VBZ planning VBG  to TO try VB out RP similar JJ trips NNS on IN U.S. NNP businessmen NNS in IN coming JJ months NNS under IN its PRP$ Canada NNP First NNP ! . Outreach NNP Program NNP . .
Participants NNS in IN the DT U.S. NNP missions NNS to TO Canada NNP are VBP  to TO be VB assisted VBN  by IN members NNS of IN the DT Service NNP Corps NNP of IN Retired NNP Executives NNP , , a DT volunteer NN group NN , , in IN  dealing VBG with IN their PRP$ export NN challenges NNS . .
The DT Canadian JJ government NN also RB has VBZ recently RB opened VBN new JJ trade NN offices NNS in IN San NNP Diego NNP ; : San NNP Juan NNP , , Puerto NNP Rico NNP ; : Miami NNP ; : Princeton NNP , , N.J. NNP , , and CC Denver NNP , ,  bringing VBG the DT total JJ number NN of IN such JJ Canadian JJ offices NNS in IN the DT U.S. NNP to TO 27 CD . .
The DT U.S. NNP has VBZ six CD trade NN promotion NN offices NNS in IN Canada NNP . .
Canada NNP 's POS export NN effort NN has VBZ been VBN blunted VBN  by IN robust JJ home NN market NN demand NN and CC by IN an DT 18 CD % NN appreciation NN of IN the DT Canadian JJ dollar NN against IN its PRP$ U.S. NNP counterpart NN in IN the DT past JJ three CD years NNS that WDT  has VBZ made VBN Canadian JJ goods NNS more RBR costly JJ in IN the DT U.S. NNP . .
Canada NNP 's POS trade NN surplus NN with IN all DT countries NNS narrowed VBD to TO C$ $ 203.5 CD million CD  in IN August NNP from IN C$ $ 528.3 CD million CD  in IN July NNP , , Statistics NNP Canada NNP said VBD   . .
Loral NNP Corp. NNP said VBD  it PRP received VBD a DT $ $ 325 CD million CD  order NN  from IN Turkey NNP 's POS Ministry NNP of IN Defense NNP , , the DT largest JJS contract NN  the DT company NN ever RB has VBZ received VBN  . .
Loral NNP will MD provide VB to TO Turkey NNP an DT electronic JJ countermeasures NNS system NN for IN its PRP$ fleet NN of IN F-16 NNP aircraft NN . .
The DT system NN provides VBZ radar-threat JJ warning NN and CC electronic JJ jamming NN capabilities NNS . .
The DT defense NN electronics NNS maker NN said VBD  delivery NN will MD begin VB in IN October NNP 1991 CD and CC run VB through IN mid-1995 NN . .
Loral NNP said VBD  the DT contract NN with IN Turkey NNP will MD provide VB opportunities NNS for IN Loral NNP to TO supply VB that DT country NN with IN other JJ defense NN systems NNS . .
Crown NNP Resources NNP Corp. NNP said VBD  it PRP reached VBD a DT definitive JJ agreement NN  to TO acquire VB the DT Gold NNP Texas NNP Resources NNP Ltd. NNP shares NNS  it PRP does VBZ n't RB already RB own JJ  . .
Under IN the DT proposed VBN agreement NN , , Gold NNP Texas NNP holders NNS will MD receive VB 1.43 CD Crown NNP shares NNS for IN each DT of IN the DT 1.1 CD million CD Gold NNP Texas NNP shares NNS not RB owned VBN  by IN Crown NNP , , which WDT  already RB owns VBZ 65 CD % NN . .
The DT arrangement NN is VBZ subject JJ to TO approval NN by IN the DT Supreme NNP Court NNP of IN British NNP Columbia NNP province NN , , Crown NNP said VBD   . .
Gold NNP Texas NNP is VBZ based VBN  in IN Vancouver NNP , , British NNP Columbia NNP , , and CC Crown NNP Resources NNP is VBZ based VBN  in IN Denver NNP . .
Both DT are VBP mining NN concerns NNS . .
Apogee NNP Robotics NNP Inc. NNP said VBD  its PRP$ board NN extended VBD until IN Feb. NNP 1 CD the DT exercise NN period NN of IN Apogee NNP 's POS existing JJ stock NN purchase NN warrants NNS outstanding JJ . .
The DT expiration NN date NN had VBD been VBN Nov. NNP 3 CD . .
Each DT of IN the DT 1,075,000 CD warrants NNS entitle VBP the DT holders NNS to TO purchase VB one CD share NN of IN Apogee NNP common JJ stock NN for IN $ $ 2.25 CD  . .
Apogee NNP was VBD quoted VBN  in IN the DT over-the-counter JJ market NN yesterday NN at IN $ $ 2 CD  bid NN  . .
Bank NNP of IN New NNP England NNP Corp. NNP , ,  seeking VBG  to TO streamline VB its PRP$ business NN after IN a DT year NN of IN weak JJ earnings NNS and CC mounting VBG loan NN problems NNS , , said VBD  it PRP will MD sell VB some DT operations NNS and CC lay VB off RP 4 CD % NN of IN its PRP$ work NN force NN . .
The DT bank NN holding NN company NN also RB reported VBD that IN third-quarter JJ profit NN dropped VBD 41 CD % NN , , to TO $ $ 42.7 CD million CD  , , or CC 61 CD cents NNS a DT share NN , , from IN the DT year-earlier JJ $ $ 72.3 CD million CD  , , or CC $ $ 1.04 CD  a DT share NN . .
Among IN its PRP$ restructuring NN measures NNS , , the DT company NN said VBD  it PRP plans VBZ  to TO sell VB 53 CD of IN its PRP$ 453 CD branch NN offices NNS and CC to TO lay VB off RP 800 CD employees NNS . .
Altogether RB , , employment NN is VBZ expected VBN  to TO decline VB to TO less JJR than IN 16,000 CD from IN the DT current JJ level NN of IN about RB 18,000 CD . .
Walter NNP Connolly NNP , , chairman NN , , said VBD in IN an DT interview NN that IN the DT company NN expects VBZ  to TO record VB pretax JJ gains NNS of IN $ $ 100 CD million CD to TO $ $ 125 CD million CD  from IN the DT sale NN of IN its PRP$ leasing NN operations NNS and CC of IN certain JJ financial JJ processing NN services NNS . .
In IN a DT prepared JJ statement NN , , the DT company NN said VBD  it PRP expects VBZ  to TO realize VB those DT gains NNS before IN year NN end NN . .
Nonperforming JJ assets NNS continued VBD  to TO pile VB up RP in IN the DT latest JJS quarter NN , ,  rising VBG to TO $ $ 900 CD million CD  , , or CC 3.52 CD % NN of IN loans NNS and CC leases NNS , , from IN $ $ 667 CD million CD  , , or CC 2.68 CD % NN , , at IN the DT end NN of IN the DT second JJ quarter NN . .
Some RB $ $ 170 CD million CD  of IN the DT $ $ 233 CD million CD  increase NN in IN nonperforming JJ loans NNS was VBD related VBN to TO real JJ estate NN , , and CC roughly RB three-quarters NNS of IN that DT was VBD in IN the DT troubled JJ New NNP England NNP market NN , , according VBG to TO Richard NNP Driscoll NNP , , vice NN chairman NN . .
Mr. NNP Driscoll NNP said VBD that IN , , despite IN continued JJ weakness NN in IN the DT region NN 's POS real JJ estate NN market NN , , Bank NNP of IN New NNP England NNP expects VBZ the DT rate NN of IN increase NN in IN nonperforming JJ assets NNS to TO slow VB in IN coming JJ quarters NNS . .
Mr. NNP Connolly NNP noted VBD that IN net JJ third-quarter JJ charge-offs NNS , , at IN $ $ 63 CD million CD  , , improved VBD slightly RB from IN the DT $ $ 67 CD million CD  in IN the DT second JJ quarter NN . .
And CC he PRP indicated VBD that IN more RBR substantial JJ improvement NN is VBZ expected VBN  in IN the DT next JJ couple NN of IN quarters NNS . .
The DT company NN increased VBD its PRP$ loan NN loss NN reserve NN to TO $ $ 354 CD million CD  from IN $ $ 342 CD million CD  at IN the DT end NN of IN the DT second JJ quarter NN . .
Total JJ assets NNS slipped VBD to TO $ $ 31.4 CD billion CD  , , from IN $ $ 32 CD billion CD  as IN of IN June NNP 30 CD . .
Among IN other JJ restructuring NN measures NNS , , the DT bank NN said VBD  it PRP will MD close VB its PRP$ loan NN production NN offices NNS in IN Chicago NNP , , New NNP York NNP and CC Philadelphia NNP . .
The DT Chicago NNP office NN figured VBD prominently RB in IN the DT bank NN 's POS problems NNS earlier RBR this DT year NN , , when WRB $ $ 65 CD million CD  in IN loans NNS to TO Chicago NNP businessman NN William NNP Stoecker NNP went VBD sour JJ  . .
In IN an DT internal JJ memorandum NN to TO employees NNS , , Messrs. NNPS Connolly NNP and CC Driscoll NNP described VBD the DT restructuring NN as IN an DT effort NN  to TO continue VB  rationalizing VBG operations NNS assembled VBN  during IN a DT series NN of IN mergers NNS over IN the DT past JJ five CD years NNS . .
Italy NNP 's POS wholesale JJ price NN index NN rose VBD 0.4 CD % NN in IN August NNP from IN July NNP and CC was VBD up RB 6.1 CD % NN from IN a DT year NN earlier RBR , , the DT state NN statistical JJ institute NN reported VBD   . .
The DT index NN registered VBD 196.1 CD in IN August NNP , , compared VBN with IN 195.4 CD in IN July NNP and CC with IN 184.9 CD in IN August NNP 1988 CD . .
The DT year-on-year JJ rise NN in IN August NNP was VBD slightly RB down RB from IN the DT 6.4 CD % NN rate NN in IN July NNP . .
The DT index NN has VBZ a DT base NN of IN 100 CD set NN  in IN 1980 CD and CC is VBZ n't RB seasonally RB adjusted VBN  . .
U.S. NNP steel NN imports NNS in IN August NNP fell VBD 14 CD % NN from IN a DT year NN earlier JJR to TO 1,531,000 CD tons NNS , , according VBG to TO the DT American NNP Iron NNP and CC Steel NNP Institute NNP . .
The DT trade NN group NN 's POS compilation NN of IN Commerce NNP Department NNP data NNS showed VBD that IN August NNP imports NNS , , the DT second JJ largest JJS monthly JJ total NN of IN the DT year NN , , were VBD up IN 5 CD % NN from IN July NNP 's POS 1,458,000 CD tons NNS but CC below IN last JJ year NN 's VBZ high JJ of IN 1,979,000 CD tons NNS in IN June NNP 1988 CD . .
August NNP imports NNS claimed VBD 18.5 CD % NN of IN the DT U.S. NNP market NN , , compared VBN with IN 19.3 CD % NN in IN July NNP and CC 20.5 CD % NN in IN August NNP 1988 CD . .
The DT latest JJS month NN 's POS figures NNS show VB that IN imports NNS of IN steel NN from IN European NNP Community NNP nations NNS fell VBD to TO 466,000 CD tons NNS from IN 481,000 CD a DT month NN earlier RB , , while IN imports NNS from IN Japan NNP rose VBD to TO 323,000 CD tons NNS from IN 288,000 CD in IN July NNP . .
Imports NNS from IN Canada NNP rose VBD to TO 272,000 CD tons NNS in IN August NNP from IN 209,000 CD in IN July NNP . .
The DT American NNP Institute NNP for IN Imported NNP Steel NNP said VBD  imports NNS for IN the DT first JJ eight CD months NNS of IN 1989 CD were VBD below IN the DT level NN allowed VBN  by IN the DT Voluntary NNP Restraint NNP Agreement NNP program NN . .
The DT institute NN said VBD that IN , , excluding VBG semifinished VBN steel NN products NNS , , year-to-date JJ imports NNS represented VBD 15.2 CD % NN of IN consumption NN , , compared VBN with IN a DT permitted VBN maximum NN of IN 18.5 CD % NN . .
Japanese JJ machinery NN makers NNS received VBD orders NNS totaling VBG 1.465 CD trillion CD yen NN -LRB- -LRB- $ $ 10.33 CD billion CD  -RRB- -RRB-  in IN August NNP , , up RB 14 CD % NN from IN a DT year NN earlier RBR , , the DT Economic NNP Planning NNP Agency NNP said VBD   . .
`` `` Equipment NN orders NNS on IN the DT domestic JJ side NN were VBD particularly RB strong JJ in IN shipping NN and CC power NN utilities NNS , , '' '' said VBD  an DT agency NN official NN . .
The DT latest JJS report NN compares VBZ with IN a DT modest JJ 9.9 CD % NN increase NN in IN July NNP machinery NN orders NNS from IN a DT year NN earlier RBR . .
In IN August NNP , , soon RB after IN Wang NNP Laboratories NNP Inc. NNP reported VBD a DT staggering JJ $ $ 424.3 CD million CD  loss NN and CC replaced VBD its PRP$ president NN , , two CD Boston NNP sales NNS representatives NNS sent VBD customers NNS a DT letter NN saying VBG : : `` `` We PRP fully RB expect VBP that IN you PRP will MD soon RB be VB reading VBG stories NNS in IN the DT press NN reporting VBG the DT ` `` Amazing NNP Comeback NNP at IN Wang NNP . . ' '' '' ''
How WRB soon RB Wang NNP will MD stage VB a DT comeback NN  , , or CC if IN it PRP will MD  at IN all DT , , are VBP still RB matters NNS of IN debate NN . .
But CC Wang NNP salespeople NN are VBP trying VBG  to TO cope VB with IN the DT biggest JJS challenge NN  any DT marketer NN can MD face VB  : :  selling VBG the DT products NNS of IN a DT company NN that WDT  is VBZ on IN the DT ropes NNS . .
`` `` If IN your PRP$ prospect NN is VBZ feeling VBG risk VB the DT whole JJ time NN and CC you PRP 're VBP not RB feeling VBG as IN if IN you PRP 're VBP backed VBN  up RP by IN a DT stable JJ company NN , , you PRP 've VBP lost VBN it PRP before IN you PRP 've VBP begun VBN , , '' '' says VBZ  Mary NNP Ann NNP Cluggish NNP , , a DT Wellesley NNP , , Mass. NNP , , sales NNS trainer NN and CC consultant NN who WP  works VBZ with IN high JJ technology NN companies NNS . .
It PRP can MD happen VB in IN any DT industry NN . .
 Consider VB the DT difficulties NNS faced VBN  by IN Audi NNP salespeople NN when WRB the DT car NN was VBD tainted VBN  by IN false JJ charges NNS of IN sudden JJ acceleration NN  , , or CC Exxon NNP dealers NNS ' POS problems NNS in IN the DT wake NN of IN the DT Valdez NNP oil NN spill NN . .
Like IN thousands NNS of IN salespeople NN before IN them PRP , , Wang NNP 's POS are VBP finding VBG ways NNS   to TO combat VB the DT bad JJ news NN  . .
`` `` It PRP  's VBZ very RB important JJ that IN we PRP exude VBP confidence NN , , even RB though IN within IN the DT family NN we PRP know VBP  there EX 's VBZ a DT lot NN of IN hard JJ work NN ahead RB , , '' '' said VBD  Richard NNP Miller NNP , , the DT Lowell NNP , , Mass. NNP , , computer NN concern NN 's POS new JJ president NN , , in IN a DT video JJ message NN to TO salespeople NNS a DT month NN after IN he PRP took VBD over RP . .
Wang NNP got VBD into IN financial JJ trouble NN because IN of IN bloated JJ overhead NN and CC overly RB optimistic JJ sales NNS forecasts NNS . .
Its PRP$ mainline JJ minicomputers NNS and CC word NN processors NNS have VBP lost VBN ground NN to TO cheaper JJR personal JJ computers NNS . .
Last JJ year NN it PRP funded VBD its PRP$ high JJ employment NN by IN heavy JJ borrowing NN , , and CC it PRP suffered VBD huge JJ losses NNS when WRB sales NNS turned VBD down RB instead RB of IN rising VBG  . .
After IN the DT company NN reported VBD red JJ ink NN for IN the DT fiscal JJ third JJ quarter NN , , Wang NNP 's POS marketing NN department NN provided VBD the DT sales NNS force NN answers NNS to TO questions NNS such JJ as IN `` `` How WRB could MD you PRP not RB have VB known VBN  you PRP were VBD going VBG  to TO lose VB $ $ 55 CD million CD   ? . '' '' and CC `` `` Is VBZ  Wang NNP still RB a DT viable JJ company NN ? . '' ''
Salespeople NNS try VBP  to TO push VB their PRP$ products NNS and CC avoid VB discussions NNS of IN finances NNS . .
 Responding VBG to TO such JJ questions NNS is VBZ `` `` defensive JJ , , '' '' says VBZ  Kenneth NNP Olissa NNP , , Wang NNP 's POS vice NN president NN , , marketing NN . .
`` `` That DT 's VBZ antithetical JJ to TO the DT art NN of IN selling VBG . . '' ''
Moreover RB , , he PRP notes VBZ that IN  analyzing VBG financial JJ results NNS `` `` poses VBZ a DT problem NN for IN a DT salesman NN who WP  is VBZ n't RB particularly RB familiar JJ with IN a DT balance NN sheet NN . . '' ''
At IN one CD sales NNS strategy NN meeting NN , , an DT executive NN suggested VBD  ordering VBG salespeople NNS  to TO become VB experts NNS on IN the DT annual JJ report NN . .
Mr. NNP Miller NNP vetoed VBD that DT : : `` `` Even RB I PRP ca MD n't RB understand VB all PDT the DT footnotes NNS , , '' '' he PRP says VBZ  . .
Instead RB , , he PRP says VBZ   , , if IN the DT salespeople NNS can MD get VB the DT customers NNS to TO consider VB Wang NNP 's POS products NNS on IN their PRP$ merits NNS , , he PRP or CC a DT top JJ financial JJ officer NN will MD try VB  to TO assuage VB the DT fears NNS about IN finances NNS . .
Mike NNP Metschan NNP , , a DT salesman NN in IN Wang NNP 's POS Austin NNP , , Texas NNP , , office NN , , has VBZ a DT breezier JJR method NN : : `` `` We PRP tell VBP them PRP  $ $ 3 CD billion CD  companies NNS do VBP n't RB go VB out IN of IN business NN . .
We PRP tell VBP them PRP  all PDT the DT major JJ companies NNS are VBP having VBG financial JJ difficulties NNS . . '' ''
Numerous JJ computer NN companies NNS are VBP having VBG sales NNS slumps NNS and CC earnings NNS declines NNS , , but CC very RB few JJ have VBP had VBN losses NNS comparable JJ to TO Wang NNP 's POS or CC are VBP carrying VBG such PDT a DT large JJ debt NN load NN . .
Mr. NNP Miller NNP says VBZ that IN after IN a DT sharp JJ sales NNS slump NN in IN July NNP and CC August NNP , , sales NNS stabilized VBD in IN September NNP . .
Although IN Wang NNP will MD report VB a DT loss NN for IN the DT first JJ quarter NN ended VBN Sept. NNP 30 CD and CC the DT full JJ fiscal JJ year NN , , Mr. NNP Miller NNP says VBZ  he PRP expects VBZ  the DT company NN will MD return VB to TO profitability NN by IN the DT fourth JJ quarter NN . .
Experts NNS on IN sales NNS technique NN say VBP  anyone NN representing VBG a DT troubled JJ company NN must MD walk VB a DT fine JJ line NN . .
`` `` If IN a DT salesman NN jeopardizes VBZ his PRP$ credibility NN in IN this DT time NN of IN trouble NN , , it PRP will MD be VB a DT problem NN for IN the DT long JJ run NN , , '' '' says VBZ  George NNP Palmatier NNP , , a DT Minden NNP , , Nev. NNP , , sales NNS consultant NN and CC author NN of IN `` `` The DT Marketing NN Edge NN . . '' ''
Still RB , , says VBZ John NNP Sullivan NNP , , a DT management NN recruiter NN with IN Daniel NNP Roberts NNP Inc. NNP of IN Boston NNP , , who WP  has VBZ held VBN senior JJ sales NNS positions NNS at IN Polaroid NNP and CC Atari NNP : : `` `` The DT customer NN will MD react VB to TO strength NN . .
 Ignore VB the DT present JJ condition NN . .
 Show VB  it PRP 's VBZ business NN as IN usual JJ . . '' ''
That DT is VBZ n't RB easy JJ . .
Wang NNP 's POS customers NNS are VBP data NNS processing NN managers NNS who WP  want VBP  to TO be VB sure JJ that IN their PRP$ suppliers NNS are VBP stable JJ , , wellrun JJ companies NNS that WDT  will MD be VB around RB  to TO fix VB bugs NNS and CC upgrade VB computers NNS for IN years NNS   to TO come VB . .
For IN buyers NNS , , `` `` these DT are VBP career-risking JJ decisions NNS , , '' '' says VBZ   Jean NNP Conlin NNP , , who WP  supervises VBZ a DT network NN of IN Wang NNP computers NNS in IN the DT admissions NNS department NN at IN Boston NNP University NNP . .
The DT university NN is VBZ considering VBG  installing VBG a DT $ $ 250,000 CD  system NN   to TO store VB applications NNS electronically RB . .
`` `` Before IN the DT really RB bad JJ news NN , , we PRP were VBD looking VBG at IN Wang NNP fairly RB seriously RB , , '' '' she PRP says VBZ  . .
But CC `` `` their PRP$ present JJ financial JJ condition NN means VBZ  I PRP 'd MD have VB a DT hard JJ time NN  convincing VBG the DT vice NN president NN in IN charge NN of IN purchasing VBG . . '' ''
Ms. NNP Conlin NNP adds VBZ : : `` `` At IN some DT point NN we PRP 'd MD have VB  to TO ask VB , , ` `` How WRB do VBP we PRP know VB that IN in IN three CD years NNS you PRP wo MD n't RB be VB in IN Chapter NNP 11 CD  ? . ' '' '' ''
During IN the DT past JJ year NN , , Wang NNP has VBZ developed VBN new JJ products NNS and CC a DT new JJ strategy NN and CC hired VBN a DT new JJ president NN . .
Wang NNP 's POS overall JJ product NN line NN is VBZ `` `` still RB not RB as RB good JJ as IN other JJ vendors NNS , , but CC they PRP 've VBP come VBN a DT long JJ way NN , , '' '' says VBZ   Steven NNP Wendler NNP , , a DT consultant NN with IN market NN researcher NN Gartner NNP Group NNP , , Stamford NNP , , Conn NNP . .
`` `` They PRP were VBD on IN the DT road NN to TO recovery NN in IN terms NNS of IN customer NN attitudes NNS until IN this DT bad JJ quarter NN happened VBD . . '' ''
The DT first JJ priority NN for IN Wang NNP 's POS sales NNS force NN is VBZ  to TO make VB sure JJ  it PRP holds VBZ on IN to TO existing JJ customers NNS . .
Wang NNP 's POS installed JJ base NN is VBZ one CD of IN its PRP$ greatest JJS assets NNS , , and CC many JJ of IN those DT customers NNS remain VBP extremely RB loyal JJ . .
But CC even RB before IN Wang NNP 's POS latest JJS financial JJ troubles NNS surfaced VBD , , some DT customers NNS `` `` were VBD trying VBG  to TO wall VB off RP their PRP$ Wang NNP installations NNS '' '' so IN other JJ departments NNS would MD n't RB add VB Wang NNP , , says VBZ   Chris NNP Christiansen NNP , , a DT former JJ Wang NNP marketer NN who WP  is VBZ now RB a DT market NN analyst NN with IN Meta NNP Group NNP , , a DT market NN research NN firm NN in IN Stamford NNP , , Conn NNP . .
One CD Wang NNP salesman NN who WP  left VBD the DT company NN in IN July NNP recalls VBZ that IN when WRB he PRP tried VBD  to TO sell VB products NNS to TO Eastman NNP Kodak NNP  , , he PRP worked VBD `` ``  to TO muster VB support NN from IN internal JJ allies NNS , , '' '' but CC `` `` those DT allies NNS became VBD skeptical JJ as IN they PRP saw VBD the DT downtrend NN . .
The DT more RBR recent JJ losses NNS were VBD really RB devastating JJ . . '' ''
New JJ customers NNS , , the DT source NN of IN higher JJR commissions NNS for IN salespeople NN and CC the DT key NN to TO Wang NNP 's POS long-term JJ viability NN , , are VBP even RB tougher JJR . .
Rick NNP Lynch NNP , , a DT former JJ top JJ salesman NN in IN Wang NNP 's POS Boston NNP office NN , ,  referring VBG to TO Wang NNP 's POS mainstay JJ computer NN line NN , , says VBZ : : `` `` You PRP ca MD n't RB sell VB a DT VS NNP to TO a DT new JJ customer NN . . '' ''
Mr. NNP Lynch NNP left VBD Wang NNP this DT summer NN for IN Oracle NNP Systems NNP Inc. NNP , , a DT software NN vendor NN . .
The DT financial JJ problems NNS are VBP particularly RB frustrating JJ for IN salespeople NNS pushing VBG Wang NNP 's POS image NN systems NNS , , which WDT  convert VBP paper NN forms NNS to TO electronic JJ documents NNS . .
Consultants NNS say VBP that IN Wang NNP 's POS technology NN is VBZ among IN the DT best JJS available JJ in IN the DT image NN market NN . .
But CC salespeople NNS often RB found VBD that IN news NN of IN Wang NNP 's POS problems NNS superseded VBD their PRP$ sales NNS efforts NNS . .
William NNP Tait NNP , , a DT former JJ sales NNS manager NN in IN Indianapolis NNP , , says VBZ that IN his PRP$ office NN had VBD all RB but RB sold VBD a DT $ $ 1.5 CD million CD  image NN system NN to TO pharmaceutical JJ maker NN Eli NNP Lilly NNP & CC Co NNP . .
`` `` When WRB they PRP were VBD making VBG the DT decision NN  , , all DT hell NN broke VBD loose RB with IN the DT finances NNS . . '' ''
He PRP says VBZ  the DT Lilly NNP executives NNS told VBD him PRP  they PRP could MD n't RB take VB the DT risk NN with IN Wang NNP . .
Mr. NNP Tait NNP say VB  he PRP does VBZ n't RB blame VB Lilly RB . .
Buyers NNS have VBP  to TO rely VB on IN a DT supplier NN `` `` continually RB upgrading VBG and CC replacing VBG the DT product NN , , '' '' he PRP says VBZ   . .
`` `` When WRB a DT company NN realizes VBZ that DT  , , it PRP  's VBZ hard JJ  to TO go VB with IN Wang NNP . . '' ''
For IN Mr. NNP Tait NNP , , who WP  says VBZ  he PRP used VBD  to TO earn VB as RB much JJ as IN $ $ 150,000 CD  a DT year NN at IN Wang NNP , , it PRP was VBD one CD more JJR reason NN   to TO quit VB  . .
He PRP is VBZ now RB president NN of IN Eastate NNP Homes NNP Inc. NNP , , an DT Indianapolis NNP contractor NN . .
It PRP  can MD be VB hard JJ for IN a DT salesperson NN to TO fight VB off RP feelings NNS of IN discouragement NN . .
Brian NNP Petre NNP , , a DT former JJ Wang NNP salesman NN in IN upstate JJ New NNP York NNP , , says VBZ : : `` `` You PRP have VBP pride NN in IN your PRP$ job NN . .
You PRP think VBP  you PRP can MD go VB out RB and CC turn VB things NNS around RB . .
It PRP  's VBZ a DT tough JJ thing NN when WRB you PRP ca MD n't RB   . .
The DT reason NN does VBZ n't RB relate VB to TO your PRP$ selling NN skills NNS . . '' ''
Discouragement NN feeds VBZ on IN itself PRP . .
`` `` The DT problem NN is VBZ , , if IN people NNS get VBP down IN in IN the DT dumps NNS , , they PRP stop VBP  selling VBG , , '' '' says VBZ  Mike NNP Durcan NNP , , a DT laid-off JJ sales NNS manager NN in IN Wang NNP 's POS Austin NNP office NN . .
One CD key NN for IN salespeople NNS is VBZ  to TO boost VB their PRP$ own JJ morale NN . .
Paul NNP Hellman NNP , , a DT Framingham NNP , , Mass. NNP , , sales NNS and CC management NN consultant NN and CC author NN of IN `` ``  Ready JJ , ,  Aim VB , , You PRP 're VBP Hired VBN  , , '' '' says VBZ : : `` `` The DT bad JJ news NN is VBZ , , you PRP 'll MD be VB rejected VBN  more RBR . .
The DT good JJ news NN is VBZ , , it PRP 's VBZ not RB your PRP$ fault NN . . '' ''
So RB , , he PRP advises VBZ   , ,  make VB goals NNS achievable JJ . .
For IN instance NN , , he PRP suggests VBZ that IN salespeople NNS making VBG telephone NN calls NNS should MD say VB to TO themselves PRP : : `` `` All DT  I PRP want VBP  to TO do VB  today NN is VBZ get VB 50 CD rejections NNS . . '' ''
But CC Mr. NNP Miller NNP , , Wang NNP 's POS new JJ president NN , , recently RB warned VBD his PRP$ salespeople NN about IN negativism NN . .
`` `` Our PRP$ customers NNS watch VBP us PRP for IN the DT hidden JJ message NN , , '' '' he PRP said VBD  . .
`` ``  Look VB a DT customer NN right RB in IN the DT eye NN and CC say VB , , ` `` I PRP 'm VBP glad JJ  to TO be VB at IN Wang NNP . .
Blinder NNP International NNP Enterprises NNP Inc. NNP , , the DT parent NN of IN beleaguered JJ penny-stockbroker NN Blinder NNP , , Robinson NNP & CC Co. NNP , , said VBD  its PRP$ shareholders NNS approved VBD a DT previously RB announced VBN name NN change NN to TO Intercontinental NNP Enterprises NNP Inc NNP . .
`` `` The DT parent NN company NN is VBZ diversifying VBG into IN other JJ industries NNS around IN the DT world NN , , '' '' said VBD  president NN Meyer NNP Blinder NNP in IN  explaining VBG the DT name NN change NN . .
`` `` Everytime RB  we PRP talked VBD about IN Blinder NNP International NNP  , , -LCB- -LRB- people NNS -RCB- -RRB- thought VBD  it PRP was VBD the DT brokerage NN house NN . . '' ''
Mr. NNP Blinder NNP said VBD  the DT change NN was VBD n't RB related VBN to TO the DT brokerage NN 's POS recent JJ troubles NNS , , which WDT  have VBP included VBN sharp JJ declines NNS in IN earnings NNS , , run-ins NNS with IN the DT securities NNS regulators NNS and CC lawsuits NNS by IN former JJ customers NNS . .
The DT company NN said VBD  it PRP expects VBZ the DT name NN change NN to TO take VB effect NN within IN a DT week NN . .
Olin NNP Corp. NNP said VBD  third-quarter JJ net JJ income NN rose VBD 26 CD % NN on IN the DT strength NN of IN its PRP$ chemical NN business NN . .
Net NN was VBD $ $ 24 CD million CD  , , or CC $ $ 1.15 CD  a DT share NN , , up RB from IN $ $ 19 CD million CD  , , or CC 90 CD cents NNS a DT share NN , , a DT year NN earlier RBR . .
Sales NNS rose VBD 7.4 CD % NN to TO $ $ 580 CD million CD  from IN $ $ 540 CD million CD  . .
Olin NNP said VBD  its PRP$ chemical NN segment NN had VBD profit NN of IN $ $ 22 CD million CD  , , up RB from IN $ $ 15 CD million CD  a DT year NN ago RB , , largely RB because IN of IN gains NNS in IN electrochemicals NNS such JJ as IN caustic JJ soda NN . .
The DT company NN said VBD  the DT gains NNS were VBD tied VBN  to TO volume NN increases NNS and CC higher JJR prices NNS . .
The DT market NN for IN electrochemicals NNS include VBP the DT paper NN , , water-purification NN and CC textile JJ industries NNS . .
The DT chemical NN segment NN had VBD a DT $ $ 6 CD million CD  gain NN on IN the DT sale NN of IN ammonia NN and CC urea NN businesses NNS , , which WDT  was VBD offset VBN  by IN a DT $ $ 6 CD million CD  charge NN for IN future JJ environmental JJ expenditures NNS . .
Profit NNP in IN Olin NNP 's POS defense NN and CC ammunition NN segment NN rose VBD to TO $ $ 8 CD million CD  from IN $ $ 7 CD million CD  . .
The DT metals NNS segment NN , , hurt VBN  by IN a DT strike NN , , had VBD break-even JJ results NNS , , against IN $ $ 3 CD million CD  a DT year NN ago RB . .
In IN the DT first JJ nine CD months NNS , , net NN rose VBD 21 CD % NN to TO $ $ 93 CD million CD  , , or CC $ $ 4.52 CD  a DT share NN , , from IN $ $ 77 CD million CD  , , or CC $ $ 3.62 CD  a DT share NN a DT year NN ago RB . .
Sales NNS rose VBD 13 CD % NN to TO $ $ 1.91 CD billion CD  from IN $ $ 1.69 CD billion CD  . .
In IN New NNP York NNP Stock NNP Exchange NNP composite JJ trading NN , , Olin NNP closed VBD at IN $ $ 58.50 CD  a DT share NN , , down RB 25 CD cents NNS . .
GTE NNP Corp. NNP and CC MCI NNP Communications NNP Corp. NNP reported VBD strong JJ earnings NNS gains NNS to TO record JJ levels NNS for IN the DT third JJ quarter NN . .
Southwestern NNP Bell NNP Corp. NNP and CC Cincinnati NNP Bell NNP posted VBD slight JJ declines NNS . .
GTE NNP Corp NNP . .
GTE NNP said VBD  net JJ income NN rose VBD 18 CD % NN , ,  aided VBN  by IN higher JJR long-distance JJ calling NN volumes NNS and CC an DT increase NN in IN telephone NN lines NNS in IN service NN . .
Pretax JJ operating NN profit NN from IN telephone NN operations NNS rose VBD 8.2 CD % NN but CC profits NNS from IN telecommunications NNS products NNS and CC electrical JJ products NNS were VBD flat JJ . .
Revenues NNS rose VBD 8.8 CD % NN to TO $ $ 4.35 CD billion CD  from IN $ $ 4.0 CD billion CD  . .
The DT company NN said VBD  the DT quarter NN included VBD a DT 10 CD % NN increase NN in IN local-exchange JJ usage NN for IN long-distance JJ calling NN and CC a DT 5 CD % NN increase NN in IN the DT number NN of IN access NN lines NNS in IN service NN . .
Earlier JJR rate NN reductions NNS in IN Texas NNP and CC California NNP reduced VBD the DT quarter NN 's POS revenue NN and CC operating NN profit NN $ $ 55 CD million CD  ; : a DT year NN earlier RBR , , operating NN profit NN in IN telephone NN operations NNS was VBD reduced VBN  by IN a DT similar JJ amount NN as IN a DT result NN of IN a DT provision NN for IN a DT reorganization NN . .
Revenue NN in IN the DT telecommunications NN products NNS and CC services NNS unit NN rose VBD 27 CD % NN to TO $ $ 728.8 CD million CD  , , but CC operating NN profit NN was VBD unchanged JJ at IN $ $ 26.3 CD million CD  , , partly RB because IN of IN start-up JJ expenses NNS . .
Electrical JJ products NNS ' POS sales NNS fell VBD to TO $ $ 496.7 CD million CD  from IN $ $ 504.5 CD million CD  with IN higher JJR world-wide JJ lighting NN volume NN offset VBN  by IN lower JJR domestic JJ prices NNS and CC the DT impact NN of IN weaker JJR currencies NNS in IN Europe NNP and CC South NNP America NNP . .
Operating NN profit NN of IN $ $ 37.2 CD million CD  was VBD unchanged JJ . .
In IN composite JJ trading NN on IN the DT New NNP York NNP Stock NNP Exchange NNP , , GTE NNP rose VBD $ $ 1.25 CD  to TO $ $ 64.125 CD  . .
MCI NNP Communications NNP Corp NNP . .
MCI NNP , , which WDT  stepped VBD up RP efforts NNS  to TO sell VB long-distance JJ telephone NN service NN to TO residential JJ customers NNS , , reported VBD a DT 59 CD % NN jump NN in IN earnings NNS . .
Revenue NN rose VBD 23 CD % NN to TO $ $ 1.67 CD billion CD  from IN $ $ 1.36 CD billion CD  . .
Operating NN profit NN grew VBD 57 CD % NN to TO $ $ 269 CD million CD  from IN $ $ 171 CD million CD  , , while IN operating VBG margins NNS rose VBD to TO 16.1 CD % NN from IN 15.9 CD % NN the DT previous JJ quarter NN and CC 12.6 CD % NN a DT year NN ago RB . .
Daniel NNP Akerson NNP , , MCI NNP chief JJ financial JJ officer NN , , said VBD  the DT company NN sees VBZ further JJ improvements NNS in IN operating NN margins NNS . .
`` `` We PRP think VBP  we PRP can MD take VB it PRP to TO the DT 18 CD % NN range NN over IN next JJ 18 CD to TO 24 CD months NNS , , '' '' he PRP said VBD  . .
In IN national JJ over-the-counter JJ trading NN , , MCI NNP fell VBD $ $ 2.625 CD  to TO $ $ 42.375 CD  . .
Charles NNP Schellke NNP , , an DT analyst NN with IN Smith NNP Barney NNP , , Harris NNP Upham NNP & CC Co. NNP , , said VBD  some DT investors NNS apparently RB expected VB slightly RB better JJR revenue NN growth NN . .
The DT company NN said VBD that DT residential JJ traffic NN grew VBD faster RBR than IN business NN traffic NN and CC attributed VBD that DT to TO its PRP$ new JJ PrimeTime NNP calling NN plan NN that WDT  competes VBZ with IN American NNP Telephone NNP & CC Telegraph NNP 's POS Reach NNP Out IN America NNP plan NN . .
MCI NNP claims VBZ about RB 12 CD % NN of IN the DT overall JJ long-distance JJ telephone NN market NN but CC just RB under IN 10 CD % NN of IN the DT $ $ 23 CD billion CD  residential JJ market NN . .
It PRP has VBZ been VBN trying VBG  to TO improve VB its PRP$ share NN of IN the DT residential JJ market NN . .
The DT company NN wants VBZ its PRP$ business NN mix NN to TO more RBR closely RB match VB that DT of IN AT&T NNP -- : a DT step NN  it PRP says VBZ   will MD help VB  prevent VB cross JJ subsidization NN . .
Mr. NNP Akerson NNP said VBD  MCI NNP recorded VBD `` `` another DT solid JJ cash NN positive JJ quarter NN , , '' '' its PRP$ fourth JJ in IN a DT row NN , , but CC declined VBD  to TO comment VB on IN whether IN the DT company NN is VBZ considering VBG a DT dividend NN or CC is VBZ planning VBG any DT acquisition NN . .
The DT current JJ quarter NN , , he PRP said VBD   , , `` `` looks VBZ fine JJ . .
We PRP think VBP  revenue NN will MD continue VB  to TO grow VB and CC that IN we PRP can MD control VB costs NNS and CC thus RB improve VB profitability NN . . '' ''
Southwestern NNP Bell NNP Corp NNP . .
Southwestern NNP Bell NNP Corp. NNP said VBD  net NN dropped VBD 8.7 CD % NN , , mainly RB the DT result NN of IN four CD extraordinary JJ items NNS : : a DT franchise NN tax NN refund NN that IN its PRP$ Southwestern NNP Bell NNP Telephone NNP Co. NNP unit NN received VBD  last JJ year NN ; : a DT production NN shift NN of IN several JJ Yellow NNP Pages NNPS directories NNS to TO the DT fourth JJ quarter NN from IN the DT third JJ ; : a DT rate NN refund NN in IN Missouri NNP and CC a DT one-time JJ adjustment NN to TO phone NN company NN revenues NNS . .
Revenue NN slipped VBD 1.2 CD % NN to TO $ $ 2.21 CD billion CD  from IN $ $ 2.23 CD billion CD  . .
The DT earnings NNS drop NN had VBD been VBN expected VBN  . .
Chairman NNP Zane NNP E. NNP Barnes NNP said VBD  Southwestern NNP Bell NNP 's POS `` `` businesses NNS are VBP healthy JJ and CC are VBP continuing VBG  to TO grow VB . . '' ''
The DT company NN reported VBD a DT 3.1 CD % NN increase NN in IN the DT number NN of IN access NN lines NNS in IN service NN , , and CC also RB said VBD  its PRP$ Southwestern NNP Bell NNP Mobile NNP Systems NNP unit NN added VBD 30,000 CD new JJ customers NNS , , with IN a DT current JJ total NN of IN about RB 333,000 CD . .
Southwestern NNP shares NNS fell VBD 50 CD cents NNS to TO $ $ 55.875 CD  in IN composite JJ trading NN on IN the DT New NNP York NNP Stock NNP Exchange NNP . .
Cincinnati NNP Bell NNP Inc NNP . .
Cincinnati NNP Bell NNP Inc. NNP said VBD  net NN declined VBD 1.8 CD % NN . .
The DT company NN noted VBD that IN the DT year-ago JJ period NN was VBD particularly RB strong JJ , , with IN an DT increase NN of IN nearly RB 70 CD % NN . .
Revenue NN jumped VBD nearly RB 17 CD % NN to TO $ $ 223.3 CD million CD  from IN $ $ 191.4 CD million CD  . .
In IN composite JJ trading NN on IN the DT New NNP York NNP Stock NNP Exchange NNP , , Cincinnati NNP Bell NNP fell VBD 25 CD cents NNS to TO $ $ 29 CD  . .
The DT company NN said VBD that IN the DT number NN of IN access NN lines NNS dropped VBD slightly RB in IN the DT quarter NN , , a DT decline NN attributed VBN  to TO seasonal JJ fluctuations NNS . .
For IN the DT year NN , , however RB , , access NN lines NNS in IN service NN have VBP increased VBN 5.5 CD % NN . .
Chairman NNP D.H. NNP Hibbard NNP said VBD  the DT company NN has VBZ set VBN a DT new JJ five CD year NN goal NN of IN  doubling VBG revenues NNS to TO about RB $ $ 1.8 CD billion CD  while IN  steadily RB increasing VBG net NN . .
Rockwell NNP International NNP Corp. NNP 's POS Tulsa NNP unit NN said VBD  it PRP signed VBD a DT tentative JJ agreement NN extending VBG its PRP$ contract NN  with IN Boeing NNP Co. NNP  to TO provide VB structural JJ parts NNS for IN Boeing NNP 's POS 747 CD jetliners NNS . .
Rockwell NNP said VBD  the DT agreement NN calls VBZ for IN it PRP to TO supply VB 200 CD additional JJ so-called JJ shipsets NNS for IN the DT planes NNS . .
These DT include VBP , , among IN other JJ parts NNS , , each DT jetliner NN 's POS two CD major JJ bulkheads NNS , , a DT pressure NN floor NN , , torque NN box NN , , fixed VBN leading VBG edges NNS for IN the DT wings NNS and CC an DT aft JJ keel NN beam NN . .
Under IN the DT existing VBG contract NN , , Rockwell NNP said VBD , , it PRP has VBZ already RB delivered VBN 793 CD of IN the DT shipsets NNS to TO Boeing NNP . .
Rockwell NNP , , based VBN  in IN El NNP Segundo NNP , , Calif. NNP , , is VBZ an DT aerospace NN , , electronics NNS , , automotive JJ and CC graphics NNS concern NN . .
Frank NNP Carlucci NNP III NNP was VBD named VBN  to TO this DT telecommunications NNS company NN 's POS board NN , ,  filling VBG the DT vacancy NN created VBN  by IN the DT death NN of IN William NNP Sobey NNP last JJ May NNP . .
Mr. NNP Carlucci NNP , , 59 CD years NNS old JJ , , served VBD as IN defense NN secretary NN in IN the DT Reagan NNP administration NN . .
In IN January NNP , , he PRP accepted VBD the DT position NN of IN vice NN chairman NN of IN Carlyle NNP Group NNP , , a DT merchant NN banking NN concern NN . .
SHEARSON NNP LEHMAN NNP HUTTON NNP Inc NNP . .
Thomas NNP E. NNP Meador NNP , , 42 CD years NNS old JJ , , was VBD named VBN  president NN  and CC chief NN operating VBG officer NN  of IN Balcor NNP Co. NNP , , a DT Skokie NNP , , Ill. NNP , , subsidiary NN of IN this DT New NNP York NNP investment NN banking NN firm NN . .
Balcor NNP , , which WDT  has VBZ interests NNS in IN real JJ estate NN , , said VBD  the DT position NN is VBZ newly RB created VBN . .
Mr. NNP Meador NNP had VBD been VBN executive JJ vice NN president NN of IN Balcor NNP . .
In IN addition NN to TO his PRP$ previous JJ real-estate NN investment NN and CC asset-management NN duties NNS , , Mr. NNP Meador NNP takes VBZ responsibility NN for IN development NN and CC property NN management NN . .
Those DT duties NNS had VBD been VBN held VBN  by IN Van NNP Pell NNP , , 44 CD , , who WP  resigned VBD as IN an DT executive JJ vice NN president NN . .
Shearson NNP is VBZ about IN 60%-held JJ by IN American NNP Express NNP Co NNP . .
Great NNP American NNP Bank NNP , ,  citing VBG depressed JJ Arizona NNP real JJ estate NN prices NNS , , posted VBD a DT third-quarter NN loss NN of IN $ $ 59.4 CD million CD  , , or CC $ $ 2.48 CD  a DT share NN . .
A DT year NN earlier RBR , , the DT savings NNS bank NN had VBD earnings NNS of IN $ $ 8.1 CD million CD  , , or CC 33 CD cents NNS a DT share NN . .
For IN the DT nine CD months NNS , , it PRP had VBD a DT loss NN of IN $ $ 58.3 CD million CD  , , or CC $ $ 2.44 CD  a DT share NN , , after IN earnings NNS of IN $ $ 29.5 CD million CD  , , or CC $ $ 1.20 CD  a DT share NN , , in IN the DT 1988 CD period NN . .
Great NNP American NNP said VBD  it PRP increased VBD its PRP$ loan-loss NN reserves NNS by IN $ $ 93 CD million CD  after IN  reviewing VBG its PRP$ loan NN portfolio NN , ,  raising VBG its PRP$ total JJ loan NN and CC real JJ estate NN reserves NNS to TO $ $ 217 CD million CD  . .
Before IN the DT loan-loss NN addition NN , , it PRP said VBD , , it PRP had VBD operating VBG profit NN of IN $ $ 10 CD million CD  for IN the DT quarter NN . .
The DT move NN followed VBD a DT round NN of IN similar JJ increases NNS by IN other JJ lenders NNS against IN Arizona NNP real JJ estate NN loans NNS , ,  reflecting VBG a DT continuing VBG decline NN in IN that DT market NN . .
In IN addition NN to TO the DT increased VBN reserve NN , , the DT savings NNS bank NN took VBD a DT special JJ charge NN of IN $ $ 5 CD million CD  representing VBG general JJ and CC administrative JJ expenses NNS from IN staff NN reductions NNS and CC other JJ matters NNS , , and CC it PRP posted VBD a DT $ $ 7.6 CD million CD  reduction NN in IN expected VBN mortgage NN servicing VBG fees NNS , ,  reflecting VBG the DT fact NN that IN more JJR borrowers NNS are VBP prepaying VBG their PRP$ mortgages NNS . .
Arbitragers NNS were VBD n't RB the DT only JJ big JJ losers NNS in IN the DT collapse NN of IN UAL NNP Corp. NNP stock NN . .
 Look VB at IN what WP  happened VBD to TO UAL NNP 's POS chairman NN , , Stephen NNP M. NNP Wolf NNP , , and CC its PRP$ chief NN financial JJ officer NN , , John NNP C. NNP Pope NNP . .
On IN a DT day NN  some DT United NNP Airlines NNPS employees NNS wanted VBD Mr. NNP Wolf NNP fired VBD  and CC takeover NN stock NN speculators NNS wanted VBD his PRP$ scalp NN  , , Messrs. NNP Wolf NNP and CC Pope NNP saw VBD their PRP$ prospective JJ personal JJ fortunes NNS continue VB  to TO plummet VB  as IN shares NNS of IN UAL NNP , , United NNP 's POS parent NN company NN , , dived VBD $ $ 24.875 CD  on IN the DT Big NNP Board NNP  to TO close VB at IN $ $ 198 CD  . .
Including NNP Monday NNP 's POS plunge NN , , that WDT has VBZ given VBN the DT two CD executives NNS paper NN losses NNS of IN $ $ 49.5 CD million CD  , , based VBN  on IN what WP they PRP would MD have VB realized VBN  had VBD the DT pilots NNS and CC management-led JJ buy-out NN of IN UAL NNP gone VBN through RB at IN $ $ 300 CD  a DT share NN . .
When WRB bank NN financing NN for IN the DT buy-out NN collapsed VBD last JJ week NN  , , so RB did VBD UAL NNP 's POS stock NN  . .
Even RB if IN the DT banks NNS resurrect VBP a DT financing VBG package NN at IN $ $ 250 CD  a DT share NN , , the DT two CD executives NNS would MD still RB get VB about IN $ $ 25 CD million CD  less JJR than IN  they PRP stood VBD  to TO gain VB  in IN the DT initial JJ transaction NN . .
Mr. NNP Wolf NNP owns VBZ 75,000 CD UAL NNP shares NNS and CC has VBZ options NNS  to TO buy VB another DT 250,000 CD at IN $ $ 83.3125 CD  each DT . .
In IN the DT $ $ 300-a-share JJ  buyout NN , , that WDT totaled VBD about IN $ $ 76.7 CD million CD  . .
By IN yesterday NN 's POS close NN of IN trading NN , , it PRP was VBD good JJ for IN a DT paltry JJ $ $ 43.5 CD million CD  . .
Of IN course NN , , Mr. NNP Wolf NNP , , 48 CD years NNS old JJ , , has VBZ some DT savings NNS . .
He PRP left VBD his PRP$ last JJ two CD jobs NNS at IN Republic NNP Airlines NNPS and CC Flying NNP Tiger NNP with IN combined VBN stock-option NN gains NNS of IN about IN $ $ 22 CD million CD  , , and CC UAL NNP gave VBD him PRP a DT $ $ 15 CD million CD  bonus NN when WRB it PRP hired VBD him PRP  . .
His PRP$ 1988 CD salary NN was VBD $ $ 575,000 CD  , , with IN a DT $ $ 575,000 CD  bonus NN . .
The DT 40-year JJ old JJ Mr. NNP Pope NNP has VBZ n't RB changed VBN jobs NNS enough RB -- : at IN least JJS the DT right JJ ones NNS -- :  to TO stash VB away RB that DT kind NN of IN money NN . .
United NNP paid VBD him PRP a DT $ $ 375,000 CD  bonus NN  to TO lure VB him PRP away RB from IN American NNP Airlines NNPS , , and CC he PRP was VBD paid VBN  a DT salary NN of IN $ $ 342,122 CD   last JJ year NN with IN a DT $ $ 280,000 CD  bonus NN . .
Mr. NNP Pope NNP owns VBZ 10,000 CD UAL NNP shares NNS and CC has VBZ options NNS  to TO buy VB another DT 150,000 CD at IN $ $ 69 CD  each DT . .
That DT came VBD to TO a DT combined VBN $ $ 37.7 CD million CD  under IN the DT $ $ 300-a-share JJ  buy-out NN , , but CC just RB $ $ 21.3 CD million CD  at IN yesterday NN 's POS close NN . .
Of IN the DT combined VBN $ $ 114.4 CD million CD   the DT two CD men NNS were VBD scheduled VBN  to TO reap VB  under IN the DT buy-out NN , , they PRP agreed VBD  to TO invest VB in IN the DT buy-out NN just RB $ $ 15 CD million CD   , ,  angering VBG many JJ of IN the DT thousands NNS of IN workers NNS asked VBD   to TO make VB pay NN concessions NNS so IN the DT buy-out NN would MD be VB a DT success NN . .
United NNP 's POS directors NNS voted VBD themselves PRP , , and CC their PRP$ spouses NNS , , lifetime NN access NN to TO the DT Friendly NNP Skies NNPS -- : free JJ first-class JJ travel NN , , and CC $ $ 20,000 CD  a DT year NN for IN life NN as RB well RB . .
Conceivably RB , , in IN a DT scaled-back JJ buy-out NN , , they PRP could MD be VB bumped VBN  back RB to TO coach NN seats NNS for IN life NN . .
Thomas NNP H. NNP Johnson NNP , , president NN of IN the DT Coatedboard NNP division NN of IN Mead NNP Corp. NNP , , was VBD named VBN  president NN of IN Manville NNP Forest NNP Products NNPS Corp. NNP , , a DT Manville NNP unit NN , , and CC senior JJ vice NN president NN of IN Manville NNP Corp NNP . .
Mr. NNP Johnson NNP succeeds VBZ Harry NNP W. NNP Sherman NNP , , who WP  resigned VBD  to TO pursue VB other JJ interests NNS , , in IN both DT positions NNS . .
Manville NNP is VBZ a DT building NN and CC forest NN products NNS concern NN . .
US NNP Facilities NNPS Corp. NNP said VBD  Robert NNP J. NNP Percival NNP agreed VBD  to TO step VB down IN as IN vice NN chairman NN of IN the DT insurance NN holding VBG company NN . .
`` `` There EX was VBD a DT difference NN of IN opinion NN as IN to TO the DT future JJ direction NN of IN the DT company NN , , '' '' a DT spokeswoman NN said VBD  . .
Mr. NNP Percival NNP declined VBD  to TO comment VB . .
In IN a DT statement NN , , US NNP Facilities NNPS said VBD  Mr. NNP Percival NNP 's POS employment NN contract NN calls VBZ for IN him PRP to TO act VB as IN a DT consultant NN to TO the DT company NN for IN two CD years NNS . .
He PRP will MD also RB remain VB a DT director NN , , US NNP Facilities NNPS said VBD   , , but CC  wo MD n't RB serve VB on IN any DT board NN committees NNS . .
Mr. NNP Percival NNP will MD be VB succeeded VBN  on IN an DT interim JJ basis NN by IN George NNP Kadonada NNP , , US NNP Facilities NNPS chairman NN and CC president NN . .
In IN the DT same JJ statement NN , , US NNP Facilities NNPS also RB said VBD  it PRP had VBD bought VBN back RB 112,000 CD of IN its PRP$ common JJ shares NNS in IN a DT private JJ transaction NN . .
Terms NNS were VBD n't RB disclosed VBN  . .
The DT buy-back NN represents VBZ about IN 3 CD % NN of IN the DT company NN 's POS shares NNS , , based VBN on IN the DT 3.7 CD million CD shares NNS outstanding JJ as IN of IN Sept. NNP 30 CD . .
In IN national JJ over-the-counter NN trading NN yesterday NN , , US NNP Facilities NNPS closed VBD at IN $ $ 3.625 CD  , , unchanged JJ . .
Three CD leading VBG drug NN companies NNS reported VBD robust JJ third-quarter NN earnings NNS , , bolstered VBN  by IN strong JJ sales NNS of IN newer JJR , , big-selling JJ prescriptions NNS drugs NNS that WDT  provide VBP hefty JJ profit NN margins NNS . .
Merck NNP & CC Co. NNP reported VBD a DT 25 CD % NN increase NN in IN earnings NNS ; : Warner-Lambert NNP Co. NNP 's POS profit NN rose VBD 22 CD % NN and CC Eli NNP Lilly NNP & CC Co. NNP 's POS net JJ income NN rose VBD 24 CD % NN . .
The DT results NNS were VBD in IN line NN with IN analysts NNS ' POS expectations NNS . .
Merck NNP & CC Co NNP . .
Merck NNP , , Rahway NNP , , N.J. NNP , , continued VBD  to TO lead VB the DT industry NN with IN a DT strong JJ sales NNS performance NN in IN the DT human NN and CC animal NN health-products NNS segment NN . .
A DT stronger JJR U.S. NNP dollar NN reduced VBD third-quarter NN and CC first-nine-month JJ sales NNS growth NN 2 CD % NN and CC 3 CD % NN  , , respectively RB . .
International JJ sales NNS accounted VBD for IN 47 CD % NN of IN total JJ company NN sales NNS for IN the DT nine CD months NNS , , compared VBN with IN 50 CD % NN a DT year NN earlier RBR . .
Sales NNS for IN the DT quarter NN rose VBD to TO $ $ 1.63 CD billion CD  from IN $ $ 1.47 CD billion CD  . .
Mevacor NNP , , Merck NNP 's POS new JJ cholesterol-lowering JJ drug NN , , had VBD higher JJR sales NNS than IN any DT other JJ prescription NN medicine NN has VBZ ever RB achieved VBN in IN the DT U.S. NNP in IN the DT year NN following VBG introduction NN , , the DT company NN said VBD   . .
The DT drug NN was VBD introduced VBN  in IN West NNP Germany NNP this DT year NN . .
Intense JJ competition NN , , however RB , , led VBD to TO unit NN sales NNS declines NNS for IN a DT group NN of IN Merck NNP 's POS established VBN human NN and CC animal-health NN products NNS , , including VBG Aldomet NNP and CC Indocin NNP . .
In IN New NNP York NNP Stock NNP Exchange NNP composite JJ trading NN yesterday NN , , Merck NN shares NNS closed VBD at IN $ $ 75.25 CD  , , up IN 50 CD cents NNS . .
Warner-Lambert NNP Co NNP . .
Warner-Lambert NNP , , Morris NNP Plains NNP , , N.J. NNP , , reported VBD sales NNS that WDT  were VBD a DT record NN for IN any DT quarter NN and CC the DT eighth JJ quarter NN in IN a DT row NN of IN 20 CD % NN or CC more JJR per-share JJ earnings NNS growth NN . .
 Spurred VBN by IN growth NN in IN world-wide JJ sales NNS of IN the DT company NN 's POS prescription NN drugs NNS , , Warner-Lambert NNP said VBD  1989 CD will MD be VB the DT best JJS year NN in IN its PRP$ history NN , , with IN per-share JJ earnings NNS expected VBN  to TO increase VB more JJR than IN 20 CD % NN to TO about IN $ $ 6.10 CD  . .
Sales NNS for IN the DT quarter NN rose VBD to TO $ $ 1.11 CD billion CD  from IN $ $ 1.03 CD billion CD  . .
Prescription-drug NN world-wide JJ sales NNS rose VBD 9 CD % NN in IN the DT quarter NN to TO $ $ 340 CD million CD  ; : U.S. NNP sales NNS rose VBD 15 CD % NN . .
The DT segment NN 's POS growth NN was VBD led VBN  by IN sales NNS of IN the DT cardiovascular JJ drugs NNS Lopid NNP , , a DT lipid NN regulator NN , , and CC Dilzem NNP , , a DT calcium NN channel NN blocker NN . .
World-wide JJ sales NNS of IN Warner-Lambert NNP 's POS non-prescription JJ health-care NN products NNS , , such JJ as IN Halls NNP cough NN tablets NNS , , Rolaids NNP antacid NN , , and CC Lubriderm NNP skin NN lotion NN , , increased VBD 3 CD % NN to TO $ $ 362 CD million CD  in IN the DT third JJ quarter NN ; : U.S. NNP sales NNS rose VBD 5 CD % NN . .
Confectionery JJ products NNS sales NNS also RB had VBD strong JJ growth NN in IN the DT quarter NN . .
World-wide JJ sales NNS of IN Trident NNP gum NN , , Certs NNP breath NN mints NNS , , and CC Clorets NNP gum NN and CC breath NN mints NNS , , increased VB 12 CD % NN to TO $ $ 277 CD million CD  . .
Warner-Lambert NNP shares NNS closed VBD at IN $ $ 109.50 CD  a DT share NN , , up IN $ $ 1.50 CD  , , in IN Big NNP Board NNP composite JJ trading NN yesterday NN . .
Eli NNP Lilly NNP & CC Co NNP . .
Lilly NNP attributed VBD record NN third-quarter JJ and CC nine-month JJ results NNS to TO world-wide JJ gains NNS for IN pharmaceuticals NNS , , medical JJ instruments NNS and CC plant-science NN products NNS despite IN poor JJ exchange NN rates NNS for IN the DT dollar NN that WDT  slowed VBD sales NNS abroad RB . .
Earnings NNS continued VBD  to TO pace VB sales NNS because IN of IN a DT lower JJR tax NN rate NN , , profit NN from IN the DT renegotiation NN of IN the DT debt NN instrument NN received VBN  from IN Faberge NNP Inc. NNP in IN connection NN with IN Lilly NNP 's POS sale NN of IN Elizabeth NNP Arden NNP Inc. NNP in IN 1987 CD , , and CC net JJ proceeds NNS from IN the DT settlement NN of IN patent NN litigation NN at IN Lilly NNP 's POS Hybritech NNP Inc. NNP unit NN . .
Third-quarter NN sales NNS of IN the DT Indianapolis NNP , , Ind. NNP , , company NN rose VBD 11 CD % NN to TO $ $ 1.045 CD billion CD  from IN $ $ 940.6 CD million CD  . .
Nine-month JJ sales NNS grew VBD 12 CD % NN to TO $ $ 3.39 CD billion CD  from IN $ $ 3.03 CD billion CD  a DT year NN earlier RBR . .
Sales NNS of IN Prozac NNP , , an DT anti-depressant NN , , led VBD drug-sales NNS increases NNS . .
Higher JJR sales NNS of IN pesticides NNS and CC other JJ plant-science NN products NNS more RBR than IN offset VBP a DT slight JJ decline NN in IN the DT sales NNS of IN animal-health NN products NNS  to TO fuel VB the DT increase NN in IN world-wide JJ agricultural JJ product NN sales NNS , , Lilly NNP said VBD   . .
Advanced NNP Cardiovascular NNP Systems NNPS Inc. NNP and CC Cardiac NNP Pacemakers NNPS Inc. NNP units NNS led VBD growth NN in IN the DT medical-instrument JJ systems NNS division NN . .
Lilly NNP shares NNS closed VBD yesterday NN in IN composite JJ trading NN on IN the DT Big NNP Board NNP at IN $ $ 62.25 CD  , , down IN 12.5 CD cents NNS . .
Reuben NNP Mark NNP , , chairman NN of IN Colgate-Palmolive NNP Co. NNP , , said VBD  he PRP is VBZ `` `` comfortable JJ '' '' with IN analysts NNS ' POS estimates NNS that IN third-quarter NN earnings NNS rose VBD to TO between IN 95 CD cents NNS and CC $ $ 1.05 CD  a DT share NN . .
That DT compares VBZ with IN per-share JJ earnings NNS from IN continuing VBG operations NNS of IN 69 CD cents NNS the DT year NN earlier RBR ; : including VBG discontinued VBN operations NNS , , per-share NN was VBD 88 CD cents NNS a DT year NN ago IN . .
The DT per-share JJ estimates NNS mean VBP  the DT consumer-products NNS company NN 's POS net NN income NN , , increased VBD to TO between IN $ $ 69.5 CD million CD and CC $ $ 76 CD million CD  , , from IN $ $ 47.1 CD million CD  the DT year-before JJ period NN . .
Analysts NNS estimate VBP  Colgate NNP 's POS world-wide JJ third-quarter NN sales NNS rose VBD about IN 8 CD % NN to TO $ $ 1.29 CD billion CD  . .
Mr. NNP Mark NNP attributed VBD the DT earnings NNS growth NN to TO strong JJ sales NNS in IN Latin NNP America NNP , , Asia NNP and CC Europe NNP . .
Results NNS were VBD also RB bolstered VBN by IN `` `` a DT very RB meaningful JJ '' '' increase NN in IN operating VBG profit NN by IN Colgate NNP 's POS U.S. NNP business NN , , Mr. NNP Mark NNP said VBD   . .
Operating VBG profit NN at IN Colgate NNP 's POS U.S. NNP household NN products NNS and CC personal-care JJ businesses NNS jumped VBD 25 CD % NN in IN the DT quarter NN , , Mr. NNP Mark NNP added VBD   . .
He PRP said VBD  the DT improvement NN was VBD a DT result NN of IN cost NN savings NNS achieved VBN  by IN  consolidating VBG manufacturing VBG operations NNS , , blending VBG two CD sales NNS organizations NNS and CC focusing VBG more RBR carefully RB the DT company NN 's POS promotional JJ activities NNS . .
The DT estimated VBN improvement NN in IN Colgate NNP 's POS U.S. NNP operations NNS took VBD some DT analysts NNS by IN surprise NN . .
Colgate NNP 's POS household NN products NNS business NN , , which WDT  includes VBZ such JJ brands NNS as IN Fab NNP laundry NN detergent NN and CC Ajax NNP cleanser NN , , has VBZ been VBN a DT weak JJ performer JJ . .
Analysts NNS estimate VBP  Colgate NNP 's POS sales NNS of IN household NN products NNS in IN the DT U.S. NNP were VBD flat JJ for IN the DT quarter NN , , and CC they PRP estimated VBD operating VBG margins NNS at IN only RB 1 CD % NN to TO 3 CD % NN  . .
`` `` If IN you PRP could MD say VB  their PRP$ business NN in IN the DT U.S. NNP was VBD mediocre JJ , , but CC great RB everywhere RB else RB , , that IN would MD be VB fine JJ , , '' '' says VBZ  Bonita NNP Austin NNP , , an DT analyst NN with IN Wertheim NNP Schroder NNP & CC Co NNP . .
`` `` But CC it PRP 's VBZ not RB mediocre JJ , , it PRP 's VBZ a DT real JJ problem NN . . '' ''
Mr. NNP Mark NNP conceded VBD that DT Colgate NNP 's POS domestic JJ business NN , , apart RB from IN its PRP$ highly RB profitable JJ Hill NNP 's POS Pet NNP Products NNPS unit NN , , has VBZ lagged VBN . .
`` `` We PRP 've VBP done VBN a DT lot NN  to TO improve VB -LCB- -LRB- U.S. NNP . . -RCB- -RRB- results NNS , , and CC a DT lot NN more RBR will MD be VB done VBN  , , '' '' Mr. NNP Mark NNP said VBD  . .
`` ``  Improving VBG profitability NN of IN U.S. NNP operations NNS is VBZ an DT extremely RB high JJ priority NN in IN the DT company NN . . '' ''
 To TO focus VB on IN its PRP$ global JJ consumer-products NNS business NN , , Colgate NNP sold VBD its PRP$ Kendall NNP health-care NN business NN in IN 1988 CD . .
H. NNP Anthony NNP Ittleson NNP was VBD elected VBN  a DT director NN of IN this DT company NN , , which WDT  primarily RB has VBZ interests NNS in IN radio NN and CC television NN stations NNS , ,  increasing VBG the DT number NN of IN seats NNS to TO five CD . .
Osborn NNP also RB operates VBZ Muzak NNP franchises NNS , , entertainment NN properties NNS and CC small JJ cable-television NN systems NNS . .
Mr. NNP Ittleson NNP is VBZ executive JJ , , special JJ projects NNS , , at IN CIT NNP Group NNP Holdings NNP Inc. NNP , , which WDT  is VBZ controlled VBN  by IN Manufacturers NNPS Hanover NNP Corp NNP . .
The DT Boston NNP Globe NNP says VBZ  its PRP$ newly RB redesigned VBN pages NNS have VBP a DT `` `` crisper NN '' '' look NN with IN revamped VBN fixtures NNS aimed VBN  at IN  making VBG the DT paper NN `` `` more RBR consistent JJ '' '' and CC `` `` easier JJR   to TO read VB  . . '' ''
Maybe RB so RB -- : if IN you PRP can MD find VB where WRB your PRP$ favorite JJ writer NN went VBD  . .
Beantown NNP scribes NNS , , who WP  spare VBP no DT invective NN when WRB  taking VBG on RP local JJ luminaries NNS such JJ as IN Michael NNP `` `` Pee NNP Wee NNP '' '' Dukakis NNP , , or CC New NNP England NNP Patriots NNPS Coach NNP Raymond NNP `` `` Rev. NNP Ray NNP '' '' Berry NN  , , yesterday NN poured VBD ridicule NN on IN new JJ drawings NNS of IN Globe NNP columnists NNS that WDT  replaced VBD old JJ photos NNS in IN the DT revamped VBN pages NNS this DT week NN . .
By IN late JJ last JJ night NN , , Globe NNP Managing NNP Editor NNP Thomas NNP Mulvoy NNP , ,  bending VBG to TO the DT will NN of IN his PRP$ troops NNS , , scrapped VBD the DT new JJ drawings NNS . .
For IN a DT few JJ days NNS at IN least JJS , , he PRP says VBZ , , no DT pictures NNS or CC drawings NNS of IN any DT kind NN will MD adorn VB the DT columns NNS . .
Trouble NN was VBD , ,  nobody NN thought VBD  they PRP looked VBD right RB . .
Globe NNP columnist NN Mike NNP Barnicle NNP -- : in IN the DT second JJ attack NN on IN his PRP$ employer NN in IN as RB many JJ weeks NNS -- : averred VBD that IN his PRP$ shadowy JJ countenance NN was VBD so RB bad JJ , ,  it PRP looked VBD `` `` like IN a DT face NN  you PRP 'd MD find VB  on IN a DT bottle NN of IN miracle NN elixir NN that WDT  promises VBZ  to TO do VB away RB with IN diarrhea NN in IN our PRP$ lifetime NN . . '' ''
Mr. NNP Barnicle NNP reminded VBD readers NNS that IN he PRP still RB has VBZ n't RB forgiven VBN Globe NNP management NN for IN  questioning VBG a DT $ $ 20 CD  expense NN chit NN  he PRP submitted VBD  for IN  parking VBG his PRP$ car NN while IN  chasing VBG a DT story NN . .
`` `` I PRP thought VBD -LCB- -LRB- the DT drawing NN -RCB- -RRB- a DT cross NN between IN someone NN  you PRP 'd MD spot VB  whipping VBG open JJ his PRP$ trench NN coat NN ... : or CC a DT guy NN who WP  boasted VBD  he PRP 'd VBD been VBN Charles NNP Manson NNP 's POS roommate NN for IN the DT last JJ 19 CD years NNS , , '' '' he PRP said VBD  . .
Mr. NNP Barnicle NNP was VBD hardly RB kinder JJR to TO the DT renderings NNS of IN colleagues NNS Michael NNP Madden NNP -LRB- -LRB- `` ``  appears NNS  to TO be VB a DT pervert NN '' '' -RRB- -RRB- , , Will NNP McDonough NNP -LRB- -LRB- `` ``  looks VBZ as IN if IN he PRP drove VBD for IN Abe NNP Lincoln NNP '' '' -RRB- -RRB- or CC Bella NNP English NNP , , whose WP$ `` `` little JJ girl NN  now RB screams VBZ hysterically RB every DT time NN  she PRP sees VBZ a DT newspaper NN  . . '' ''
Lynn NNP Staley NNP , , the DT Globe NNP 's POS assistant NN managing VBG editor NN for IN design NN , , acknowledges VBZ that IN the DT visages NNS were VBD `` `` on IN the DT low JJ end NN of IN the DT likeness NN spectrum NN . . '' ''
Rival NNP Boston NNP Herald NNP columnist NN Howie NNP Carr NNP , , who WP  usually RB rails VBZ at IN Statehouse NN `` `` hacks NNS '' '' and CC nepotism NN , , argued VBD that IN the DT new JJ drawings NNS were VBD designed VBN   to TO hide VB Mr. NNP Madden NNP 's POS `` `` rapidly RB growing VBG forehead NN '' '' and CC the DT facial JJ defects NNS of IN `` `` chinless JJ '' '' Dan NNP Shaughnessy NNP , , a DT Globe NNP sports NNS columnist NN . .
`` `` But CC  think VB of IN the DT money NN  you PRP , , the DT reader NN , , will MD save VB  on IN Halloween NNP , , '' '' said VBD  Mr. NNP Barnicle NNP . .
`` `` Instead RB of IN  buying VBG masks NNS for IN your PRP$ kids NNS , ,  just RB cut VB out RP the DT columnists NNS ' POS pictures NNS ... : . .
Deeply RB ingrained JJ in IN both PDT the DT book NN review NN `` ``  Kissing VBG Nature NN Good-bye NN '' '' by IN Stephen NNP MacDonald NNP -LRB- -LRB- Leisure NNP & CC Arts NNPS , , Sept. NNP 27 CD -RRB- -RRB- and CC the DT books NNS reviewed VBN  is VBZ  the DT assumption NN that IN global JJ warming NN is VBZ entirely RB a DT result NN of IN human JJ activity NN . .
Is VBZ such JJ a DT view NN justified VBN  ? .
In IN the DT absence NN of IN humans NNS , , would MD the DT Earth NN enjoy VB a DT constant JJ climate NN over IN the DT long JJ term NN ? .
Clearly RB not RB . .
About IN 20,000 CD years NNS ago IN the DT last JJ ice NN age NN ended VBD . .
Enormous JJ ice NN sheets NNS retreated VBD from IN the DT face NN of IN North NNP America NNP , , northern JJ Europe NNP and CC Asia NNP . .
This DT global JJ warming NN must MD have VB been VBN entirely RB natural JJ -- : nobody NN would MD blame VB it PRP on IN a DT few JJ hundred CD thousand CD hunter-gatherers NNS hunting VBG mammoths NNS and CC scratching VBG around IN in IN caves NNS . .
Furthermore RB , , no DT bell NN has VBZ yet RB rung VBN  to TO announce VB the DT end NN of IN this DT immense JJ episode NN of IN natural JJ global JJ warming NN . .
It PRP is VBZ probably RB continuing VBG and CC may MD well RB account VB for IN most RBS of IN  , , or CC all DT of IN  , , present-day JJ global JJ warming NN . .
I PRP bow VBP to TO no DT one CD in IN my PRP$ regard NN for IN our PRP$ terrestrial JJ heritage NN , , but CC if IN we PRP are VBP serious JJ about IN global JJ warming NN we PRP must MD look VB at IN the DT big JJ picture NN and CC not RB allow VB the DT Dominant NNP Culture NNP to TO lock VB us PRP into IN the DT capitalist-exploiters-greedy-American-consumers-global JJ - : warming NN scenario NN as IN the DT sole JJ model NN for IN discussion NN . .
Jocelyn NNP Tomkin NNP Astronomy NNP Department NNP University NNP of IN
The DT Internal NNP Revenue NNP Service NNP plans VBZ  to TO restructure VB itself PRP more RBR like IN a DT private JJ corporation NN . .
In IN addition NN , , the DT tax-collecting JJ agency NN says VBZ that IN it PRP will MD take VB the DT unusual JJ step NN of IN  looking VBG to TO the DT private JJ sector NN  to TO fill VB two CD new JJ high-level JJ positions NNS   to TO guide VB the DT 120,000-employee JJ agency NN  : : a DT comptroller NN   to TO oversee VB daily JJ finances NNS and CC a DT chief NN information NN officer NN   to TO update VB the DT information NN system NN , , which WDT  includes VBZ probably RB the DT largest JJS computer NN data NNS base NN in IN the DT world NN . .
The DT IRS NNP also RB said VBD that IN it PRP would MD create VB the DT position NN of IN chief NN financial JJ officer NN , , who WP  will MD be VB hired VBN  from IN within IN the DT agency NN . .
IRS NNP Commissioner NNP Fred NNP T. NNP Goldberg NNP said VBD  the DT changes NNS are VBP intended VBN  to TO bring VB `` `` accountability NN '' '' to TO the DT agency NN , , which WDT  has VBZ an DT annual JJ budget NN of IN more RBR than IN $ $ 5 CD billion CD  and CC collects VBZ about IN $ $ 1 CD trillion CD  a DT year NN . .
`` `` My PRP$ assessment NN and CC everyone NN 's POS assessment NN is VBZ that IN we PRP do VBP not RB have VB the DT kinds NNS of IN information NN that WDT  let VBD us PRP responsibly RB and CC effectively RB formulate VB and CC execute VB our PRP$ budget NN , , '' '' Mr. NNP Goldberg NNP said VBD  . .
`` `` And CC we PRP do VBP n't RB have VB internal JJ controls NNS and CC discipline NN that IN we PRP need VBP  to TO have VB   to TO spend VB $ $ 5 CD billion CD  properly RB . . '' ''
Mr. NNP Goldberg NNP , , who WP  took VBD over RP as IN head NN of IN the DT IRS NNP in IN July NNP , , has VBZ been VBN disturbed VBN  by IN what WP he PRP considers VBZ  the DT inefficiency NN , , waste NN and CC lack NN of IN coordination NN among IN the DT branches NNS of IN the DT vast JJ federal JJ agency NN . .
The DT IRS NNP operates VBZ on IN a DT computer NN system NN designed VBN  in IN 1961 CD , , which WDT it PRP has VBZ been VBN trying VBG  to TO modernize VB  for IN years NNS . .
And CC the DT agency NN , , which WDT  operated VBD throughout IN fiscal JJ 1989 CD with IN a DT $ $ 360 CD million CD  budget NN shortfall NN , , has VBZ been VBN under IN a DT hiring VBG freeze NN since IN last JJ fall NN . .
The DT new JJ commissioner NN says VBZ that IN closer JJR scrutiny NN of IN how WRB the DT agency NN uses VBZ its PRP$ resources NNS will MD go VB a DT long JJ way NN toward IN  enhancing VBG its PRP$ ability NN  to TO collect VB more JJR tax NN revenue NN . .
`` `` I PRP think VBP that IN you PRP will MD see VB a DT significant JJ improvement NN in IN the DT budget NN formulation NN and CC execution NN process NN which WDT , , in IN turn NN , , I PRP believe VBP   will MD result VB in IN a DT significant JJ increase NN in IN revenue NN , , '' '' he PRP said VBD  . .
The DT IRS NNP hopes VBZ  to TO fill VB the DT new JJ positions NNS soon RB . .
Customarily RB , , it PRP would MD appoint VB career NN civil JJ servants NNS from IN within IN the DT agency NN , , but CC Mr. NNP Goldberg NNP said VBD  he PRP plans VBZ  to TO `` `` scour VB the DT world NN '' '' for IN the DT chief NN information NN officer NN and CC the DT comptroller NN . .
Although IN the DT jobs NNS will MD probably RB pay VB between IN $ $ 70,000 CD and CC $ $ 80,000 CD  a DT year NN , , IRS NNP officials NNS are VBP confident JJ that IN they PRP can MD attract VB top-notch JJ candidates NNS from IN the DT private JJ sector NN . .
`` `` You PRP 're VBP telling VBG someone NN  they PRP can MD spend VB the DT next JJ three CD or CC four CD or CC five CD or CC six CD years NNS of IN their PRP$ life NN  bringing VBG about RP the DT most RBS difficult JJ and CC costly JJ modernization NN of IN an DT information NN system NN on IN the DT civil JJ side NN ever RB , , '' '' Mr. NNP Goldberg NNP said VBD  . .
`` `` On IN the DT comptroller NN side NN , , you PRP 're VBP developing VBG  and CC making VBG work VB  financial JJ controls NNS governing VBG a DT $ $ 6 CD billion CD  budget NN . .
When WRB Maj. NNP Moises NNP Giroldi NNP , , the DT leader NN of IN the DT abortive JJ coup NN in IN Panama NNP , , was VBD buried VBN   , , his PRP$ body NN bore VBD several JJ gunshot NN wounds NNS , , a DT cracked VBN skull NN and CC broken VBN legs NNS and CC ribs NNS . .
They PRP were VBD the DT signature NN of IN his PRP$ adversary NN , , Panamanian JJ leader NN Manuel NNP Antonio NNP Noriega NNP . .
The DT rebel NN officer NN 's POS slow JJ and CC painful JJ death NN , , at IN the DT headquarters NN of IN Panama NNP 's POS Battalion-2000 NN squad NN , , was VBD personally RB supervised VBN  by IN Gen. NNP Noriega NNP , , says VBZ   a DT U.S. NNP official NN with IN access NN to TO intelligence NN reports NNS . .
 Leaping VBG into IN rages NNS , ,  sinking VBG into IN bouts NNS of IN drunkenness NN and CC mistrust NN , , Mr. NNP Noriega NNP has VBZ put VBN to TO death NN some DT 70 CD of IN his PRP$ troops NNS involved VBN  in IN the DT coup NN , , according VBG to TO U.S. NNP officials NNS monitoring VBG crematoriums NNS and CC funeral NN parlors NNS in IN Panama NNP City NNP . .
He PRP is VBZ now RB changing VBG the DT place NN  he PRP sleeps VBZ  every DT night NN , , sometimes RB more JJR than IN once RB a DT night NN . .
His PRP$ meals NNS are VBP most RBS often RB prepared VBN by IN women NNS  he PRP trusts VBZ  -- : his PRP$ full-time JJ mistress NN , , Vicky NNP Amado NNP , , and CC her PRP$ mother NN , , Norma NNP . .
And CC he PRP is VBZ collecting VBG the DT names NNS of IN those DT who WP  telephoned VBD the DT coup-makers NNS  to TO congratulate VB them PRP during IN their PRP$ brief JJ time NN in IN control NN of IN his PRP$ headquarters NNS . .
More JJR enemies NNS   to TO be VB dealt VBN with IN  . .
In IN the DT two CD weeks NNS since IN the DT rebellion NN , , which WDT the DT U.S. NNP hesitantly RB backed VBD  , , Mr. NNP Noriega NNP has VBZ been VBN at IN his PRP$ most JJS brutal JJ - : and CC efficient JJ - : in IN  maintaining VBG power NN . .
Yet RB , , while IN the DT failed VBN coup NN is VBZ a DT major JJ U.S. NNP foreign JJ policy NN embarrassment NN , , it PRP is VBZ merely RB the DT latest JJS chapter NN in IN a DT byzantine JJ relationship NN between IN Mr. NNP Noriega NNP and CC Washington NNP that WDT  stretches VBZ back RB three CD decades NNS . .
America NNP 's POS war NN on IN the DT dictator NN over IN the DT past JJ two CD years NNS , , following VBG his PRP$ indictment NN on IN drug NN charges NNS in IN February NNP 1988 CD , , is VBZ the DT legacy NN of IN that DT relationship NN . .
Before IN American JJ foreign JJ policy NN set VBD out RP  to TO destroy VB Noriega NNP , , it PRP helped VBD create VB him PRP out IN of IN the DT crucible NN of IN Panama NNP 's POS long JJ history NN of IN conspirators NNS and CC pirates NNS . .
For IN most JJS of IN the DT past JJ 30 CD years NNS , , the DT marriage NN was VBD one CD of IN convenience NN . .
In IN 1960 CD , , for IN example NN , , when WRB Mr. NNP Noriega NNP was VBD both PDT a DT cadet NN at IN an DT elite JJ military JJ academy NN in IN Peru NNP and CC a DT spy-in-training NN for IN the DT U.S. NNP Defense NNP Intelligence NNP Agency NNP  , , he PRP was VBD detained VBN  by IN Lima NNP authorities NNS for IN  allegedly RB raping VBG  and CC savagely RB beating VBG  a DT prostitute NN , , according VBG to TO a DT U.S. NNP Embassy NNP cable NN from IN that DT period NN . .
The DT woman NN had VBD nearly RB died VBN . .
But CC U.S. NNP intelligence NN , , rather RB than IN  rein VB in RB  or CC cut VB loose JJ  its PRP$ new JJ spy NN , , merely RB filed VBD the DT report NN away RB . .
Mr. NNP Noriega NNP 's POS tips NNS on IN emerging VBG leftists NNS at IN his PRP$ school NN were VBD deemed VBN  more RBR important JJ to TO U.S. NNP interests NNS . .
From IN that DT point NN on IN , , the DT U.S. NNP would MD make VB a DT practice NN of IN  overlooking VBG the DT Panamanian NNP 's POS misadventures NNS . .
The DT U.S. NNP has VBZ befriended VBN  and CC later RB turned VBD against IN  many JJ dictators NNS , , but CC none NN quite RB so RB resourceful JJ . .
The DT 55-year-old JJ Mr. NNP Noriega NNP is VBZ n't RB as RB smooth JJ as IN the DT shah NN of IN Iran NNP , , as RB well-born JJ as IN Nicaragua NNP 's POS Anastasio NNP Somoza NNP , , as RB imperial JJ as IN Ferdinand NNP Marcos NNP of IN the DT Philippines NNP or CC as RB bloody JJ as IN Haiti NNP 's POS Baby NNP Doc NNP Duvalier NNP . .
Yet CC he PRP has VBZ proved VBN more RBR resilient JJ than IN any DT of IN them PRP . .
And CC out IN of IN necessity NN : : The DT U.S. NNP can MD make VB mistakes NNS and CC still RB hope VB  to TO remove VB him PRP from IN power NN , , but CC a DT single JJ error NN on IN his PRP$ part NN could MD cost VB him PRP his PRP$ life NN . .
`` `` The DT U.S. NNP underestimated VBD Noriega NNP all DT along IN , , '' '' says VBZ  Ambler NNP Moss NNP , , a DT former JJ Ambassador NN to TO Panama NNP . .
`` `` He PRP has VBZ mastered VBN the DT art NN of IN survival NN . . '' ''
In IN  keeping VBG with IN America NNP 's POS long JJ history NN of IN  propping VBG up RP Mr. NNP Noriega NNP , , recent JJ U.S. NNP actions NNS have VBP extended VBN rather RB than IN shortened VBN his PRP$ survival NN . .
Mr. NNP Noriega NNP might MD have VB fallen VBN of IN his PRP$ own JJ weight NN in IN 1988 CD because IN of IN Panama NNP 's POS dire JJ economic JJ situation NN , , says VBZ   Mr. NNP Moss NNP , , but CC increasing VBG external JJ pressure NN has VBZ only RB given VBN him PRP additional JJ excuses NNS for IN repression NN , , and CC a DT scapegoat NN for IN his PRP$ own JJ mismanagement NN . .
`` `` If IN the DT U.S. NNP had VBD sat VBN back RB and CC done VBN nothing NN , , he PRP might MD not RB have VB made VBN it PRP through IN 1988 CD , , '' '' Mr. NNP Moss NNP contends VBZ  . .
Perhaps RB most RBS important JJ , , Mr. NNP Noriega NNP 's POS allies NNS have VBP intervened VBN  to TO encourage VB -- : in IN some DT cases NNS , ,  to TO demand VB -- : that IN the DT dictator NN maintain VB his PRP$ grip NN of IN the DT throne NN . .
One CD Colombian JJ drug NN boss NN , , upon IN  hearing NN in IN 1987 CD that IN Gen. NNP Noriega NNP was VBD negotiating VBG with IN the DT U.S. NNP  to TO abandon VB his PRP$ command NN for IN a DT comfortable JJ exile NN , , sent VBD him PRP a DT hand-sized JJ mahogany NN coffin NN engraved VBN  with IN his PRP$ name NN . .
`` `` He PRP is VBZ cornered JJ , , '' '' says VBZ  the DT Rev. NNP Fernando NNP Guardia NNP , , who WP  has VBZ led VBN Catholic NNP Church NNP opposition NN against IN Noriega NNP . .
`` `` The DT Americans NNPS have VBP left VBN him PRP without IN a DT way NN out IN . .
It PRP  is VBZ easy JJ  to TO fight VB when WRB you PRP do VBP n't RB have VB any DT other JJ option NN  . . '' ''
His PRP$ chief NN advantage NN in IN the DT fight NN : : his PRP$ intimate JJ knowledge NN of IN American JJ ways NNS and CC weaknesses NNS . .
Mr. NNP Noriega NNP often RB tells VBZ friends NNS that IN patience NN is VBZ the DT best JJS weapon NN against IN the DT gringos NNS , , who WP  have VBP a DT short JJ attention NN span NN and CC little JJ stomach NN for IN lasting VBG confrontation NN . .
The DT U.S. NNP discovered VBD the DT young JJ Tony NNP Noriega NNP in IN late JJ 1959 CD , , when WRB he PRP was VBD in IN his PRP$ second JJ year NN at IN the DT Chorrillos NNP Military NNP Academy NNP in IN Lima NNP  , , according VBG to TO former JJ U.S. NNP intelligence NN officials NNS . .
The DT contact NN occurred VBD through IN Mr. NNP Noriega NNP 's POS half-brother NN , , a DT Panamanian JJ diplomat NN based VBN  in IN Peru NNP named VBN  Luis NNP Carlos NNP Noriega NNP Hurtado NNP . .
Luis NNP Carlos NNP , ,  knowing VBG that IN  helping VBG the DT Americans NNPS could MD advance VB the DT career NN of IN any DT Panamanian JJ officer NN , , relayed VBD Tony NNP 's POS reports NNS on IN the DT leftist JJ tendencies NNS  he PRP observed VBD  among IN his PRP$ fellow NN students NNS and CC , , more RBR important JJ , , among IN his PRP$ officers NNS and CC instructors NNS . .
A DT spy NN was VBD born VBN  . .
It PRP was VBD a DT heady JJ experience NN for IN the DT pockmarked VBN and CC slightly RB built VBN Mr. NNP Noriega NNP , , who WP  was VBD known VBN  to TO his PRP$ friends NNS as IN Cara NNP la DT Pina NNP -- : pineapple NN face NN . .
 Born VBN the DT illegitimate JJ son NN of IN his PRP$ father NN 's POS maid NN , , he PRP was VBD raised VBN  on IN the DT mean JJ streets NNS of IN the DT central JJ market NN district NN of IN Panama NNP City NNP . .
Tony NNP was VBD four CD years NNS older JJR than IN most JJS of IN his PRP$ fellow NN cadets NNS , , and CC gained VBD admission NN to TO the DT academy NN because IN his PRP$ brother NN had VBD falsified VBN his PRP$ birth NN certificate NN . .
He PRP considered VBD himself PRP intellectually RB superior JJ to TO his PRP$ Peruvian JJ peers NNS , , many DT of IN whom WP  were VBD wayward JJ sons NNS sent VBN  by IN their PRP$ well-off JJ families NNS to TO the DT highly RB disciplined VBN , , French-modeled JJ academy NN as IN a DT sort NN of IN reform NN school NN . .
In IN his PRP$ peaked JJ military JJ cap NN and CC neatly RB pressed VBN , , French-made JJ uniform NN , , Noriega NNP felt VBD more RBR respected VBN and CC powerful JJ than IN ever RB in IN his PRP$ underprivileged JJ life NN , , friends NNS from IN the DT period NN say VBP   . .
`` `` He PRP had VBD an DT elegant JJ uniform NN with IN gold JJ buttons NNS in IN a DT country NN where WRB there EX was VBD a DT cult NN of IN militarism NN  , , where WRB officers NNS were VBD the DT elite NN with IN special JJ privileges NNS  , , '' '' recalls VBZ  Darien NNP Ayala NNP , , a DT fellow NN student NN in IN Peru NNP and CC a DT lifelong JJ friend NN . .
Mr. NNP Noriega NNP 's POS relationship NN to TO American JJ intelligence NN agencies NNS became VBD contractual JJ in IN either DT 1966 CD or CC 1967 CD , , intelligence NN officials NNS say VBP   . .
His PRP$ commanding JJ officer NN at IN the DT Chiriqui NNP Province NNP garrison NN , , Major NNP Omar NNP Torrijos NNP , , gave VBD him PRP an DT intriguing JJ assignment NN : : Mr. NNP Noriega NNP would MD organize VB the DT province NN 's POS first JJ intelligence NN service NN . .
The DT spy NN network NN would MD serve VB two CD clients NNS  : : the DT Panamanian JJ government NN , , by IN  monitoring VBG political JJ opponents NNS in IN the DT region NN , , and CC the DT U.S. NNP , , by IN  tracking VBG the DT growing VBG Communist JJ influence NN in IN the DT unions NNS organized VBN  at IN United NNP Fruit NNP Co. NNP 's POS banana NN plantations NNS in IN Bocas NNP del NNP Toros NNP and CC Puerto NNP Armuelles NNP . .
United NNP Fruit NNP was VBD one CD of IN the DT two CD largest JJS contributors NNS to TO Panama NNP 's POS national JJ income NN . .
 Satisfying VBG its PRP$ interests NNS was VBD a DT priority NN for IN any DT Panamanian JJ leader NN . .
Mr. NNP Noriega NNP 's POS initial JJ retainer NN was VBD only RB $ $ 50 CD  to TO $ $ 100 CD  a DT month NN , , plus CC occasional JJ gifts NNS of IN liquor NN or CC groceries NNS from IN the DT American JJ PX NNP , , a DT former JJ intelligence NN official NN says VBZ   . .
It PRP was VBD modest JJ pay NN by IN American JJ standards NNS , , but CC a DT healthy JJ boost NN to TO his PRP$ small JJ military JJ salary NN , , which WDT fellow NN officers NNS remember VBP as IN  having VBG been VBN $ $ 300 CD  to TO $ $ 400 CD  monthly RB . .
`` `` He PRP did VBD it PRP very RB well RB , , '' '' recalls VBZ  Boris NNP Martinez NNP , , a DT former JJ Panamanian JJ colonel NN who WP  managed VBD Mr. NNP Noriega NNP and CC his PRP$ operation NN . .
`` `` He PRP started VBD building VBG the DT files NNS that WDT  helped VBD him PRP gain VB power NN . . '' ''
A DT National NNP Guard NNP job NN assumed VBN  by IN Capt. NNP Noriega NNP in IN 1964 CD -- : as IN chief NN of IN the DT transit NN police NN in IN David NNP City NNP , , capital NN of IN the DT Chiriqui NNP Province NNP -- : was VBD tailor-made JJ for IN an DT aspiring VBG super-spy NN . .
By IN  pressuring VBG taxi NN and CC bus NN drivers NNS who WP  needed VBD licenses NNS , , he PRP gained VBD a DT ready JJ cache NN of IN information NN . .
He PRP knew VBD which WDT local JJ luminaries NNS  had VBD been VBN caught VBN  driving VBG drunk NN , , which WDT  had VBD been VBN found VBN  with IN their PRP$ mistresses NNS . .
This DT proved VBD particularly RB valuable JJ to TO the DT Panamanian JJ government NN in IN 1967 CD , , when WRB union NN leaders NNS were VBD planning VBG a DT May NNP Day NNP march NN that IN the DT government NN feared VBD   could MD turn VB violent JJ  . .
Mr. NNP Noriega NNP had VBD learned VBN that IN a DT local JJ union NN leader NN was VBD sleeping VBG with IN the DT wife NN of IN his PRP$ deputy NN . .
So IN he PRP splashed VBD the DT information NN on IN handbills NNS that IN he PRP distributed VBD  throughout IN the DT banana-exporting JJ city NN of IN Puerto NNP Armuelles NNP , , which WDT  was VBD ruled VBN  by IN United NNP Fruit NNP Co NNP . .
The DT campaign NN so RB divided VBD union NN leaders NNS that IN the DT government NN found VBD them PRP far RB easier JJR   to TO control VB  . .
`` `` It PRP was VBD like IN a DT play NN on IN Broadway NNP , , '' '' recalls VBZ  Mr. NNP Martinez NNP . .
`` `` Noriega NNP managed VBD the DT whole JJ thing NN . .
He PRP was VBD superb JJ . .
Noriega NNP was VBD an DT expert NN at IN  bribing VBG and CC blackmailing VBG people NNS . . '' ''
During IN his PRP$ years NNS in IN Chiriqui NNP , , however RB , , Mr. NNP Noriega NNP also RB revealed VBD himself PRP as IN an DT officer NN as RB perverse JJ as IN he PRP was VBD ingenious JJ . .
Rodrigo NNP Miranda NNP , , a DT local JJ lawyer NN and CC human-rights NN monitor NN , , recalls VBZ an DT intoxicated JJ Noriega NNP visiting VBG prisoners NNS in IN their PRP$ cells NNS at IN the DT 5th JJ Zone NNP Garrison NNP headquarters NN in IN David NNP , , where WRB he PRP had VBD his PRP$ offices NNS  . .
Mr. NNP Noriega NNP would MD order VB them PRP all DT  to TO take VB off IN their PRP$ clothes NNS and CC run VB around IN the DT courtyard NN naked JJ , ,  laughing VBG at IN them PRP and CC then RB retreating VBG to TO his PRP$ office NN . .
`` `` People NNS started VBD wondering VBG if IN something NN was VBD wrong JJ with IN him PRP , , '' '' Mr. NNP Miranda NNP recalls VBZ  . .
But CC through IN this DT period NN , , so RB far RB as IN the DT U.S. NNP military NN was VBD concerned VBN  , , Mr. NNP Noriega NNP was VBD a DT model NN recruit NN . .
He PRP signed VBD up RP for IN intelligence NN and CC counter-intelligence JJ training NN under IN American JJ officers NNS at IN Fort NNP Gulick NNP in IN Panama NNP in IN July NNP 1967 CD , , according VBG to TO a DT copy NN of IN a DT 1983 CD resume NN with IN details NNS  Mr. NNP Noriega NNP has VBZ since IN classified VBN  as IN secret JJ . .
He PRP flew VBD to TO Fort NNP Bragg NNP , , N.C. NNP , , in IN September NNP of IN that DT year NN for IN a DT course NN in IN psychological JJ operations NNS , ,  returning VBG to TO the DT School NNP of IN the DT Americas NNPS in IN Panama NNP for IN a DT two-month JJ course NN called VBN  `` `` military JJ intelligence NN for IN officers NNS . . '' ''
Some DT American JJ officers NNS interpreted VBD his PRP$ eagerness NN and CC studiousness NN as IN a DT sign NN of IN loyalty NN , , but CC they PRP did VBD so RB falsely RB . .
He PRP rose VBD to TO chief NN of IN intelligence NN in IN Panama NNP 's POS socalled VBN G-2 NN in IN 1970 CD after IN  providing VBG populist JJ dictator NN Torrijos NNP the DT critical JJ support NN  to TO defeat VB a DT coup NN attempt NN against IN him PRP a DT year NN earlier RBR . .
He PRP became VBD Gen. NNP Torrijos NNP 's POS inseparable JJ shadow NN , , and CC the DT holder NN of IN all DT Panama NNP 's POS secrets NNS . .
Mr. NNP Noriega NNP , , by IN now RB a DT lieutenant NN colonel NN , , expanded VBD his PRP$ contacts NNS to TO include VB the DT Cubans NNPS -- : not RB to TO mention VB the DT Israelis NNPS , , the DT Taiwanese NNP and CC any DT other JJ intelligence NN service NN that WDT  came VBD knocking VBG . .
When WRB U.S. NNP diplomats NNS complained VBD to TO the DT CIA NNP of IN Col. NNP Noriega NNP 's POS moonlighting NN  , , intelligence NN experts NNS always RB insisted VBD that DT his PRP$ allegiance NN was VBD first RB to TO the DT Americans NNPS . .
`` `` Early RB on IN in IN the DT State NNP Department NNP , , we PRP took VBD to TO  calling VBG him PRP the DT rent-a-colonel NN , , in IN tribute NN to TO his PRP$ ability NN  to TO simultaneously RB milk VB the DT antagonistic JJ intelligence NN services NNS of IN Cuba NNP and CC the DT United NNP States NNPS , , '' '' recalls VBZ  Francis NNP J. NNP McNeil NNP , , who WP , , as IN deputy JJ assistant JJ secretary NN of IN state NN for IN inter-American JJ affairs NNS , ,  first RB ran VBD across IN reports NNS about IN Mr. NNP Noriega NNP in IN 1977 CD  . .
`` `` Some DT of IN us PRP wondered VBD how WRB our PRP$ intelligence NN people NNS could MD put VB so RB much JJ stock NN in IN his PRP$ information NN when WRB he PRP was VBD just RB as RB close RB to TO the DT Cubans NNPS  . . '' ''
Even RB at IN this DT early JJ stage NN , , drugs NNS caused VBD additional JJ concerns NNS . .
During IN the DT Nixon NNP administration NN , , the DT Drug NNP Enforcement NNP Administration NNP became VBD dismayed VBN at IN the DT extent NN of IN the DT G-2 NN 's POS connections NNS to TO arrested VBN drug NN traffickers NNS . .
One CD DEA NNP agent NN drew VBD up RP a DT list NN of IN five CD options NNS for IN  dealing VBG with IN Col. NNP Noriega NNP , , one CD of IN which WDT  was VBD assassination NN . .
The DT head NN of IN the DT DEA NNP at IN the DT time NN , , John NNP Ingersoll NNP , , scotched VBD the DT assassination NN plan NN . .
But CC he PRP did VBD fly VB to TO Panama NNP  to TO scold VB dictator NN Torrijos NNP on IN the DT drug NN ties NNS of IN Panamanian JJ officials NNS , , including VBG Mr. NNP Noriega NNP . .
Mr. NNP Ingersoll NNP later RB recalled VBD that IN Gen. NNP Torrijos NNP seemed VBD afraid JJ  to TO act VB on IN the DT concerns NNS of IN the DT U.S. NNP . .
`` `` Everybody NN was VBD afraid JJ of IN him PRP , , '' '' Mr. NNP Ingersoll NNP says VBZ  . .
Mr. NNP Noriega NNP became VBD an DT even RB greater JJR threat NN in IN 1976 CD , , when WRB U.S. NNP intelligence NN services NNS discovered VBD that IN he PRP had VBD been VBN buying VBG recordings NNS of IN electronically RB monitored VBN conversations NNS from IN three CD sergeants NNS working VBG for IN the DT U.S. NNP Army NNP 's POS 470th JJ Military NNP Intelligence NNP Group NNP  . .
The DT tapes NNS included VBD wiretaps NNS of IN Gen. NNP Torrijos NNP 's POS own JJ phone NN , , according VBG to TO American JJ intelligence NN officials NNS . .
`` `` We PRP caught VBD him PRP with IN his PRP$ hands NNS on IN our PRP$ cookie NN jar NN , , '' '' says VBZ  former JJ CIA NNP Director NNP Stansfield NNP Turner NNP . .
For IN the DT first JJ time NN , , the DT U.S. NNP considered VBD cutting VBG Mr. NNP Noriega NNP from IN its PRP$ intelligence NN payroll NN -- : and CC the DT deliberations NNS were VBD intense JJ , , Mr. NNP Turner NNP says VBZ   . .
`` `` In IN the DT world NN of IN intelligence NN , , if IN you PRP want VBP  to TO get VB information NN , , you PRP get VBP it PRP from IN seedy JJ characters NNS . .
The DT question NN is VBZ how WRB much RB you PRP get VBP  tied VBN in RP with IN seedy JJ characters NNS so IN they PRP can MD extort VB you PRP  . . '' ''
Intelligence NN officials NNS to TO this DT day NN worry VBP whether IN Mr. NNP Noriega NNP sold VBD sensitive JJ information NN on IN the DT recordings NNS to TO the DT Cubans NNPS or CC others NNS . .
Mr. NNP Turner NNP was VBD troubled VBN  enough RB  to TO cancel VB the DT U.S. NNP contract NN with IN the DT rent-a-colonel NN at IN the DT beginning NN of IN the DT Carter NNP administration NN . .
The DT U.S. NNP soon RB found VBD new JJ cause NN for IN concern NN : : gun-running NN . .
Prosecutors NNS in IN Southern NNP Florida NNP indicted VBD five CD Panamanians NNPS on IN charges NNS of IN  illegally RB running VBG arms NNS to TO Sandinista NNP rebels NNS trying VBG  to TO overthrow VB the DT Nicaraguan JJ government NN of IN Mr. NNP Somoza NNP . .
They PRP included VBD one CD of IN Mr. NNP Noriega NNP 's POS closest JJS friends NNS and CC business NN partners NNS , , Carlos NNP Wittgreen NNP . .
And CC the DT investigators NNS were VBD quickly RB closing VBG in RP on IN Mr. NNP Noriega NNP himself PRP . .
At IN the DT time NN , , though RB , , in IN 1979 CD , , the DT U.S. NNP was VBD once RB again RB flirting VBG with IN its PRP$ longtime NN Latin NNP American NNP spy NN . .
Mr. NNP Noriega NNP made VBD plans NNS  to TO fly VB to TO Washington NNP for IN a DT meeting NN with IN his PRP$ counterpart NN at IN the DT Pentagon NNP . .
Dade NNP County NNP and CC federal JJ authorities NNS , ,  learning VBG that IN he PRP intended VBD  to TO fly VB through IN Miami NNP , , made VBN plans NNS  to TO arrest VB him PRP on IN the DT gun-running JJ charges NNS as RB soon RB as IN he PRP hit VBD U.S. NNP soil NN . .
It PRP was VBD a DT Friday NNP in IN June NNP . .
The DT Pentagon NNP foiled VBD the DT plan NN . .
According VBG to TO military JJ officers NNS at IN the DT time NN , , word NN  was VBD passed VBN  to TO Mr. NNP Noriega NNP by IN his PRP$ American JJ hosts NNS that IN the DT police NN would MD be VB waiting VBG . .
On IN Monday NNP , , U.S. NNP officials NNS received VBD a DT routine JJ , , unclassified JJ message NN from IN the DT military JJ group NN commander NN in IN Panama NNP . .
`` `` Due JJ to TO health NN reasons NNS , , Lt. NNP Col. NNP Noriega NNP has VBZ elected VBN  to TO postpone VB his PRP$ visit NN to TO Washington NNP , , '' '' it PRP read VBD  . .
Prosecutors NNS in IN Miami NNP received VBD yet RB another DT setback NN . .
Their PRP$ original JJ indictment NN against IN Mr. NNP Wittgreen NNP , , the DT friend NN of IN Mr. NNP Noriega NNP , , and CC the DT other JJ four CD was VBD dismissed VBN  on IN a DT technicality NN . .
But CC now RB , , along IN with IN  reindicting VBG Mr. NNP Noriega NNP 's POS pal NN , , they PRP intended VBD  to TO charge VB Mr. NNP Noriega NNP himself PRP , , on IN allegations NNS that IN he PRP was VBD involved VBN  in IN the DT illegal JJ trading NN of IN some DT $ $ 2 CD million CD  in IN arms NNS . .
In IN January NNP 1980 CD , , Jerome NNP Sanford NNP , , as IN assistant JJ U.S. NNP attorney NN , , was VBD summoned VBN  to TO a DT meeting NN with IN a DT Federal NNP Bureau NNP of IN Investigation NNP agent NN assigned VBN  to TO the DT Bureau NNP of IN Alcohol NNP , , Tobacco NNP and CC Firearms NNPS in IN Miami NNP . .
Panamanian JJ dictator NN Torrijos NNP , , he PRP was VBD told VBN    , , had VBD granted VBN the DT shah NN of IN Iran NNP asylum NN in IN Panama NNP as IN a DT favor NN to TO Washington NNP . .
Mr. NNP Sanford NNP was VBD told VBN   Mr. NNP Noriega NNP 's POS friend NN , , Mr. NNP Wittgreen NNP , , would MD be VB handling VBG the DT shah NN 's POS security NN . .
It PRP  would MD n't RB be VB a DT good JJ idea NN  to TO indict VB him PRP  -- : much RB less JJR Mr. NNP Noriega NNP , , the DT prosecutor NN was VBD told VBN    . .
After IN prodding VBG from IN Mr. NNP Sanford NNP , , U.S. NNP Attorney NNP Jack NNP Eskenazi NNP pleaded VBD with IN Justice NNP Department NNP officials NNS in IN Washington NNP  to TO let VB the DT indictment NN proceed VB . .
`` `` Unfortunately RB , , '' '' Mr. NNP Eskenazi NNP wrote VBD   in IN a DT letter NN , , `` `` those DT of IN us PRP in IN law NN enforcement NN in IN Miami NNP find VBP ourselves PRP frequently RB attempting VBG  to TO enforce VB the DT laws NNS of IN the DT United NNP States NNPS but CC simultaneously RB being VBG caught VBN  between IN foreign JJ policy NN considerations NNS over IN which WDT we PRP have VBP no DT control NN  . . '' ''
The DT letter NN , , along IN with IN a DT detailed VBN prosecution NN memo NN , , sat VBD on IN the DT desks NNS of IN Justice NNP officials NNS for IN months NNS before IN the DT case NN died VBD a DT quiet JJ death NN . .
`` `` I PRP think VBP  if IN we PRP had VBD been VBN allowed VBN  to TO go VB ahead RB then RB we PRP would MD n't RB have VB the DT problems NNS  we PRP have VBP  now RB , , '' '' Mr. NNP Sanford NNP says VBZ  . .
`` `` If IN he PRP had VBD been VBN found VBN  guilty JJ , , we PRP could MD have VB stopped VBN him PRP . . '' ''
In IN August NNP 1983 CD , , Mr. NNP Noriega NNP took VBD over RP as IN General NNP  and CC de-facto JJ dictator NN  of IN Panama NNP , ,  having VBG maneuvered VBN his PRP$ way NN to TO the DT top NN only RB two CD years NNS after IN the DT mysterious JJ death NN in IN a DT plane NN crash NN of IN his PRP$ old JJ boss NN Omar NNP Torrijos NNP . .
Soon RB , , the DT military NN became VBD a DT veritable JJ mafia NN controlling VBG legal JJ and CC illegal JJ businesses NNS . .
The DT Reagan NNP administration NN also RB put VBD Mr. NNP Noriega NNP 's POS G-2 NN back NN on IN the DT U.S. NNP payroll NN . .
Payments NNS  averaged VBD nearly RB $ $ 200,000 CD  a DT year NN from IN the DT U.S. NNP Defense NNP Intelligence NNP Agency NNP and CC the DT CIA NNP . .
Although IN  working VBG for IN U.S. NNP intelligence NN , , Mr. NNP Noriega NNP was VBD hardly RB helping VBG the DT U.S. NNP exclusively RB . .
During IN the DT Reagan NNP years NNS he PRP expanded VBD his PRP$ business NN and CC intelligence NN contacts NNS with IN the DT Cubans NNPS and CC the DT Sandinistas NNPS . .
He PRP allegedly RB entered VBD into IN Panama NNP 's POS first JJ formal JJ business NN arrangement NN with IN Colombian JJ drug NN bosses NNS , , according VBG to TO Floyd NNP Carlton NNP , , a DT pilot NN who WP  once RB worked VBD for IN Mr. NNP Noriega NNP and CC who WP  testified VBD before IN the DT U.S. NNP grand JJ jury NN in IN Miami NNP that WDT  would MD ultimately RB indict VB the DT Panamanian NNP on IN drug NN charges NNS . .
But CC Mr. NNP Noriega NNP was VBD convinced VBN   the DT Reagan NNP White NNP House NNP would MD n't RB act VB against IN him PRP , , recalls VBZ   his PRP$ close JJ ally NN Jose NNP Blandon NNP , , because IN he PRP had VBD an DT insurance NN policy NN : : his PRP$ involvement NN with IN the DT Contra NNP rebels NNS in IN Nicaragua NNP . .
Mr. NNP Blandon NNP says VBZ  the DT general NN allowed VBD the DT Contras NNPS to TO set VB up RP a DT secret JJ training NN center NN in IN Panama NNP . .
Mr. NNP Noriega NNP also RB conveyed VBD intelligence NN from IN his PRP$ spy NN operation NN inside IN the DT Nicaraguan JJ capital NN of IN Managua NNP . .
And CC on IN at IN least JJS one CD occasion NN , , in IN the DT spring NN of IN 1985 CD , , he PRP helped VBD arrange VB a DT sabotage NN attack NN on IN a DT Sandinista NNP arsenal NN in IN Nicaragua NNP . .
Although IN , , his PRP$ help NN for IN the DT Contra NNP cause NN was VBD limited VBN  , , it PRP was VBD enough JJ  to TO win VB him PRP important JJ protectors NNS in IN the DT Reagan NNP administration NN , , says VBZ   Sen. NNP Patrick NNP Leahy NNP , , a DT Vermont NNP Democrat NNP who WP  then RB served VBD on IN the DT Senate NNP Intelligence NNP Committee NNP . .
`` `` Noriega NNP played VBD U.S. NNP intelligence NN agencies NNS and CC the DT U.S. NNP government NN like IN a DT violin NN , , '' '' he PRP says VBZ  . .
An DT incident NN in IN 1984 CD suggested VBD one CD additional JJ means NNS by IN which WDT Mr. NNP Noriega NNP might MD have VB maintained VBN such JJ influence NN with IN Washington NNP  -- : by IN  compromising VBG U.S. NNP officials NNS . .
Curtin NNP Windsor NNP , , then RB the DT ambassador NN to TO Costa NNP Rica NNP , , recalls VBZ  being VBG invited VBN  to TO Panama NNP by IN Mr. NNP Noriega NNP 's POS brother NN Luis NNP Carlos NNP for IN a DT weekend NN of IN deep JJ sea NN fishing NN and CC `` `` quiet JJ , , serious JJ conversation NN '' '' on IN the DT Aswara NNP Peninsula NNP . .
Mr. NNP Windsor NNP notified VBD Everett NNP E. NNP Briggs NNP , , the DT U.S. NNP ambassador NN to TO Panama NNP , , of IN the DT invitation NN . .
`` `` Briggs NNP screamed VBD , , '' '' Mr. NNP Windsor NNP recalls VBZ  . .
He PRP says VBZ  Mr. NNP Briggs NNP told VBD him PRP  he PRP was VBD being VBG set VBN up RP  for IN a DT `` `` honey NN trap NN , , '' '' in IN which WDT Mr. NNP Noriega NNP would MD try VB  to TO involve VB him PRP in IN an DT orgy NN and CC then RB record VB the DT event NN `` `` with IN sound NN and CC video NN  . . '' ''
Mr. NNP Briggs NNP , , on IN vacation NN after IN  resigning VBG his PRP$ position NN at IN the DT National NNP Security NNP Council NNP , , could MD n't RB be VB reached VBN  for IN comment NN . .
As IN Mr. NNP Noriega NNP 's POS political JJ troubles NNS grew VBD , , so RB did VBD his PRP$ offers NNS of IN assistance NN to TO the DT Contras NNPS , , an DT apparent JJ attempt NN  to TO curry VB more JJR favor NN in IN Washington NNP . .
For IN instance NN , , he PRP helped VBD steal VB the DT May NNP 1984 CD Panamanian JJ elections NNS for IN the DT ruling VBG party NN . .
But CC just RB one CD month NN later RB , , he PRP also RB contributed VBD $ $ 100,000 CD  to TO a DT Contra NNP leader NN , , according VBG to TO documents NNS released VBN  for IN Oliver NNP North NNP 's POS criminal JJ trial NN in IN Washington NNP , , D.C NNP . .
Yet RB , , his PRP$ political JJ setbacks NNS mounted VBD . .
Mr. NNP Noriega NNP was VBD accused VBN  of IN  ordering VBG in IN 1985 CD the DT beheading NN of IN Hugo NNP Spadafora NNP , , his PRP$ most JJS outspoken JJ political JJ opponent NN and CC the DT first JJ man NN   to TO publicly RB finger VB Mr. NNP Noriega NNP on IN drug NN trafficking NN charges NNS . .
He PRP then RB ousted VBD President NNP Nicholas NNP Ardito NNP Barletta NNP , , a DT former JJ World NNP Bank NNP official NN with IN close JJ ties NNS to TO the DT U.S. NNP , , after IN Mr. NNP Barletta NNP tried VBD  to TO create VB a DT commission NN  to TO investigate VB the DT murder NN . .
And CC , , all PDT the DT while NN , , Panama NNP 's POS debt NN problems NNS continued VBD  to TO grow VB . .
Mr. NNP Noriega NNP was VBD growing VBG desperate JJ . .
In IN late JJ 1986 CD , , he PRP made VBD an DT offer NN  he PRP thought VBD  the DT U.S. NNP could MD n't RB refuse VB  . .
As IN  recounted VBN  in IN a DT stipulation NN that WDT  summarized VBD government NN documents NNS released VBN  for IN the DT North NNP trial NN , , Mr. NNP Noriega NNP offered VBD  to TO assassinate VB the DT Sandinista NNP leadership NN in IN exchange NN `` `` for IN a DT promise NN  to TO help VB  clean VB up RP Noriega NNP 's POS image NN and CC a DT commitment NN  to TO lift VB the DT -LCB- -LRB- U.S. NNP . . -RCB- -RRB- ban NN on IN military JJ sales NNS to TO the DT Panamanian NNP Defense NNP Forces NNPS . . '' ''
`` `` North NNP , , '' '' the DT document NN went VBD on RB  , ,  referring VBG to TO Oliver NNP North NNP , , `` `` has VBZ told VBN Noriega NNP 's POS representative NN that IN U.S. NNP law NN forbade VBD such JJ actions NNS . .
The DT representative NN responded VBD that IN Noriega NNP had VBD numerous JJ assets NNS in IN place NN in IN Nicaragua NNP and CC could MD accomplish VB many JJ essential JJ things NNS , , just RB as IN Noriega NNP had VBD helped VBN -LCB- -LRB- the DT U.S. NNP . . -RCB- -RRB- the DT previous JJ year NN in IN  blowing VBG up RP a DT Sandinista NNP arsenal NN . . '' ''
Col. NNP North NNP conveyed VBD the DT request NN to TO his PRP$ superiors NNS and CC to TO Assistant NNP Secretary NNP of IN State NNP Elliot NNP Abrams NNP , , who WP  relayed VBD it PRP to TO Secretary NNP of IN State NNP George NNP Shultz NNP . .
Mr. NNP Noriega NNP 's POS proposal NN was VBD turned VBN  down IN . .
And CC Mr. NNP Shultz NNP curtly RB told VBD Mr. NNP Abrams NNP that IN the DT general NN should MD be VB told VBN  that IN only RB he PRP could MD repair VB his PRP$ tarnished VBN image NN . .
The DT end NN of IN the DT marriage NN was VBD at IN hand NN . .
Within IN weeks NNS the DT unfolding VBG Iran-Contra NNP scandal NN took VBD away RB Mr. NNP Noriega NNP 's POS insurance NN policy NN . .
The DT death NN of IN CIA NNP Director NNP William NNP Casey NNP and CC resignation NN of IN Oliver NNP North NNP allowed VBD anti-Noriega JJ political JJ forces NNS to TO gain VB influence NN . .
Public JJ protests NNS against IN him PRP were VBD triggered VBN  in IN June NNP 1987 CD due JJ to TO charges NNS  by IN Diaz NNP Herrera NNP , , his PRP$ former JJ chief NN of IN staff NN , , that IN Mr. NNP Noriega NNP had VBD stolen VBN the DT 1984 CD election NN and CC had VBD ordered VBN the DT killing NN of IN Messrs. NNP Spadafora NNP and CC Torrijos NNP . .
Few JJ American JJ officials NNS were VBD willing VBG any DT longer RB  to TO defend VB him PRP . .
Lawyers NNS in IN Miami NNP -- :  this DT time NN working VBG virtually RB without IN impediment NN -- : prepared VBD  to TO have VB him PRP indicted VBN on IN drug NN charges NNS in IN February NNP 1988 CD . .
During IN negotiations NNS with IN American JJ officials NNS in IN May NNP 1988 CD over IN proposals NNS  to TO drop VB the DT U.S. NNP indictments NNS in IN exchange NN for IN his PRP$ resignation NN , , Mr. NNP Noriega NNP often RB asked VBD almost RB plaintively RB how WRB the DT Americans NNPS , , whom WP he PRP had VBD helped VBN  for IN so RB many JJ years NNS , , could MD turn VB against IN him PRP  . .
Now RB , , neither CC side NN -- : the DT U.S. NNP nor CC Mr. NNP Noriega NNP -- : has VBZ an DT easy JJ out NN . .
President NNP Bush NNP has VBZ sworn VBN  to TO bring VB him PRP to TO justice NN . .
Mr. NNP Noriega NNP believes VBZ  he PRP has VBZ n't RB any DT alternative NN but CC  to TO continue VB clutching VBG to TO power NN . .
It PRP is VBZ a DT knock-out JJ battle NN -- : perhaps RB to TO the DT death NN . .
In IN the DT end NN , , is VBZ Mr. NNP Noriega NNP the DT political JJ equivalent NN of IN Frankenstein NNP 's POS monster NN , , created VBN by IN a DT well-intentioned JJ but CC misguided JJ foreign JJ power NN ? .
Not RB quite RB , , Sen. NNP Leahy NNP contends VBZ   . .
`` `` For IN short-term JJ gains NNS , , people NNS were VBD willing JJ  to TO put VB up RP with IN him PRP . .
That DT allowed VB him PRP to TO get VB stronger JJR and CC stronger JJR , , '' '' he PRP says VBZ  . .
`` `` I PRP do VBP n't RB think VB  we PRP created VBD him PRP as RB much RB as IN we PRP fed VBD him PRP , , nurtured VBD him PRP and CC let VB him PRP grow VB up IN  to TO be VB big JJ and CC strong JJ . .
UPJOHN NNP Co. NNP reported VBD that IN third-quarter NN net JJ income NN rose VBD to TO $ $ 96 CD million CD  , , or CC 52 CD cents NNS a DT share NN , , from IN $ $ 89.6 CD million CD  , , or CC 49 CD cents NNS a DT share NN , , a DT year NN earlier RBR . .
Yesterday NN 's POS edition NN provided VBD analysts NNS ' POS estimates NNS for IN the DT company NN when WRB actual JJ earnings NNS were VBD available JJ  . .
Industrial JJ production NN declined VBD 0.1 CD % NN in IN September NNP , ,  reinforcing VBG other JJ signs NNS that IN the DT manufacturing VBG sector NN continues VBZ its PRP$ slowing VBG trend NN . .
The DT Federal NNP Reserve NNP Board NNP said VBD  output NN of IN the DT nation NN 's POS factories NNS , , mines NNS and CC utilities NNS expanded VBD at IN an DT annual JJ rate NN of IN 1.3 CD % NN in IN the DT third JJ quarter NN , , substantially RB slower JJR than IN the DT 3.3 CD % NN annual JJ rate NN in IN the DT second JJ quarter NN . .
`` `` Capital NN spending NN and CC exports NNS , , which WDT  have VBP been VBN the DT driving VBG force NN in IN this DT expansion NN , , are VBP showing VBG clear JJ signs NNS of IN  having VBG the DT steam NN taken VBN out IN of IN them PRP , , '' '' said VBD  Robert NNP Dederick NNP , , economist NN for IN Northern NNP Trust NNP Co. NNP in IN Chicago NNP . .
The DT new JJ reports NNS of IN sluggishness NN , , which WDT  were VBD foreshadowed VBN  by IN an DT earlier JJR Labor NNP Department NNP report NN that IN manufacturing VBG payrolls NNS dropped VBD by IN 105,000 CD in IN September NNP , , give VBP the DT Fed NNP another DT reason NN  to TO further RB ease VB its PRP$ grip NN on IN credit NN and CC lower VB interest NN rates NNS . .
`` `` They PRP need VBP  to TO do VB something NN about IN this DT , , '' '' said VBD  Maury NNP Harris NNP , , economist NN at IN PaineWebber NNP Group NNP Inc NNP . .
The DT Fed NNP also RB said VBD  U.S. NNP industry NN operated VBD at IN 83.6 CD % NN of IN capacity NN last JJ month NN , , down IN from IN 83.8 CD % NN in IN August NNP . .
Measures NNS of IN manufacturing VBG activity NN fell VBD more RBR than IN the DT overall JJ measures NNS . .
Factory NN output NN dropped VBD 0.2 CD % NN  , , its PRP$ first JJ decline NN since IN February NNP , , after IN  having VBG been VBN unchanged JJ in IN October NNP . .
Factories NNS operated VBD at IN 83.7 CD % NN of IN capacity NN , , the DT lowest JJS rate NN in IN more JJR than IN a DT year NN and CC down IN from IN 84.1 CD % NN in IN September NNP . .
The DT declines NNS mainly RB reflected VBD widespread JJ weakness NN in IN durable JJ goods NNS , , those DT intended VBN  to TO last VB more JJR than IN three CD years NNS . .
The DT biggest JJS drop NN was VBD recorded VBN  by IN primary JJ metals NNS producers NNS , , a DT category NN that WDT  includes VBZ the DT steel NN industry NN . .
Output NN of IN business NN equipment NN was VBD unchanged JJ in IN September NNP . .
Production NN of IN factory NN equipment NN , , one CD indication NN of IN the DT strength NN of IN manufacturers NNS ' POS investment NN spending NN , , fell VBD 0.3 CD % NN . .
Some DT economists NNS expect VBP further JJ declines NNS in IN investment NN spending NN . .
`` `` Whenever WRB corporate JJ profits NNS are VBP weak JJ  that WDT means VBZ  capital NN spending NN is VBZ going VBG  to TO soften VB subsequently RB , , '' '' Mr. NNP Harris NNP said VBD  . .
`` `` You PRP have VBP n't RB seen VBN the DT full JJ effect NN of IN that DT yet RB . . '' ''
A DT decline NN in IN truck NN production NN more RBR than IN offset VB a DT sharp JJ rise NN in IN auto NN assemblies NNS , , the DT Fed NNP noted VBD   . .
Analysts NNS do VBP n't RB expect VB the DT September NNP surge NN in IN auto NN production NN to TO be VB repeated VBN  in IN the DT coming VBG months NNS . .
Here RB is VBZ a DT summary NN of IN the DT Federal NNP Reserve NNP Board NNP 's POS report NN on IN industrial JJ production NN in IN September NNP . .
The DT figures NNS are VBP seasonally RB adjusted VBN  . .
142.3 CD % NN of IN the DT 1977 CD average NN . .
Robin NNP Honiss NNP , , president NN and CC chief NN executive JJ officer NN of IN this DT bank NN holding VBG company NN , , was VBD elected VBN  to TO the DT additional JJ posts NNS of IN chairman NN , , president NN and CC chief NN executive NN of IN the DT company NN 's POS New NNP England NNP Savings NNP Bank NNP subsidiary NN . .
William NNP R. NNP Attridge NNP resigned VBD those DT posts NNS , , as RB well RB as IN a DT seat NN on IN NESB NNP 's POS board NN . .
NESB NNP is VBZ also RB the DT parent NN of IN Omnibank NNP . .
Lung-cancer NN mortality NN rates NNS for IN people NNS under IN 45 CD years NNS of IN age NN have VBP begun VBN  to TO decline VB , , federal JJ researchers NNS report VBP   . .
The DT drop NN is VBZ particularly RB large JJ for IN white JJ males NNS , , although IN black JJ males NNS and CC white JJ and CC black JJ women NNS also RB show VBP lower JJR mortality NN rates NNS . .
A DT report NN in IN this DT week NN 's POS issue NN of IN the DT Journal NNP of IN the DT National NNP Cancer NNP Institute NNP also RB projects VBZ that IN overall JJ U.S. NNP mortality NN rates NNS from IN lung NN cancer NN , , the DT leading VBG cause NN of IN cancer NN death NN , , should MD begin VB  to TO drop VB in IN several JJ years NNS if IN cigarette NN smoking NN continues VBZ  to TO abate VB . .
The DT report NN , , which WDT  comes VBZ 25 CD years NNS after IN the DT U.S. NNP Surgeon NNP General NNP issued VBD a DT report NN warning VBG against IN the DT dangers NNS of IN smoking NN , , is VBZ the DT strongest JJS indication NN to TO date NN that IN the DT reduction NN in IN smoking NN is VBZ leading VBG to TO lower JJR death NN rates NNS from IN lung NN cancer NN . .
`` `` What WP this DT is VBZ saying VBG  is VBZ that IN the DT surgeon NN general NN 's POS message NN is VBZ having VBG an DT impact NN , , '' '' said VBD  Melvyn NNP Tockman NNP , , an DT epidemiologist NN at IN the DT Johns NNP Hopkins NNP School NNP of IN Hygiene NNP and CC Public NNP Health NNP in IN Baltimore NNP . .
The DT National NNP Cancer NNP Institute NNP report NN compares VBZ mortality NN rates NNS of IN two CD groups NNS of IN people NNS between IN the DT ages NNS of IN 35 CD and CC 44 CD a DT decade NN apart RB . .
The DT death NN rate NN from IN lung NN cancer NN of IN white JJ males NNS aged VBN  35 CD to TO 44 CD in IN the DT mid-1970s CD was VBD 13.4 CD per IN 100,000 CD , , but CC the DT mortality NN rate NN of IN the DT same JJ age NN group NN in IN the DT mid-1980s CD was VBD 9.6 CD , , a DT decline NN of IN 28.7 CD % NN . .
 Measured VBN the DT same JJ way NN , , the DT decline NN for IN black JJ males NNS was VBD 14.2 CD % NN . .
The DT drop NN in IN mortality NN rates NNS for IN women NNS was VBD less RBR steep JJ -- : 8.9 CD % NN for IN blacks NNS and CC 5.3 CD % NN for IN whites NNS . .
The DT study NN , , by IN Susan NNP Devesa NNP , , William NNP Blot NNP and CC Joseph NNP Fraumeni NNP of IN the DT institute NN 's POS staff NN , , also RB shows VBZ that IN the DT incidence NN of IN lung NN cancer NN as RB well RB as IN the DT death NN rate NN declined VBD over IN the DT decade NN for IN all DT groups NNS in IN the DT 35-44 CD age NN bracket NN , , except IN black JJ men NNS . .
Although IN lung-cancer NN mortality NN rates NNS are VBP increasing VBG for IN the DT nation NN as IN a DT whole NN , , the DT report NN projects VBZ that IN death NN rates NNS will MD begin VB  to TO decline VB in IN the DT 1990s CD for IN men NNS and CC after IN the DT year NN 2000 CD for IN women NNS . .
Lung-cancer NN mortality NN rates NNS increase VBP with IN age NN and CC are VBP continuing VBG  to TO rise VB for IN all DT age NN groups NNS over IN 55 CD , , with IN sharp JJ increases NNS for IN everybody NN but CC white JJ men NNS . .
But CC Dr. NNP Fraumeni NNP , , one CD of IN the DT authors NNS of IN the DT report NN , , said VBD `` `` the DT declining VBG rates NNS  we PRP 're VBP seeing VBG  for IN younger JJR people NNS we PRP believe VBP  may MD  be VB a DT harbinger NN of IN declining VBG mortality NN in IN the DT future NN . . '' ''
However RB , , he PRP stressed VBD that IN the DT improvement NN depends VBZ on IN a DT continued VBN reduction NN in IN smoking NN . .
`` `` Even RB though IN these DT favorable JJ trends NNS in IN lung-cancer NN mortality NN affect VBP all DT sex NN and CC race NN groups NNS , , they PRP ca MD n't RB be VB taken VBN  for IN granted VBN , , '' '' the DT report NN says VBZ  . .
`` `` Smoking NN prevention NN programs NNS should MD reach VB larger JJR segments NNS of IN the DT population NN , , especially RB children NNS , , adolescents NNS and CC minorities NNS . . '' ''
An DT editorial NN in IN the DT NCI NNP Journal NNP says VBZ  the DT report NN of IN declining VBG lung-cancer NN mortality NN `` `` among IN young JJ men NNS and CC women NNS in IN the DT U.S. NNP indicates VBZ that IN we PRP finally RB may MD be VB winning VBG the DT battle NN -- : this DT even RB in IN a DT country NN where WRB the DT tobacco NN industry NN spends VBZ over IN $ $ 2 CD billion CD  a DT year NN for IN promotion NN of IN the DT addictive JJ habit NN of IN smoking NN  . . '' ''
But CC the DT editorial NN , , by IN Jan NNP Stjernsward NNP of IN the DT World NNP Health NNP Organization NNP , , notes VBZ that IN tobacco NN consumption NN and CC lung-cancer NN mortality NN rates NNS are VBP rising VBG in IN developing VBG countries NNS . .
`` `` Non-smoking NN should MD be VB established VBN  as IN the DT norm NN of IN social JJ behavior NN '' '' around IN the DT world NN , , the DT editorial NN says VBZ   , , through IN the DT enactment NN of IN laws NNS that WDT  limit VBP advertising NN , , boost VBP tobacco NN prices NNS and CC promote VBP anti-smoking JJ education NN . .
 Asked VBN  for IN comment NN , , Walker NNP Merryman NNP , , a DT vice NN president NN of IN the DT Tobacco NNP Institute NNP , , said VBD  new JJ efforts NNS  to TO restrict VB tobacco NN advertising NN in IN the DT U.S. NNP could MD violate VB the DT First NNP Amendment NNP protection NN of IN free JJ speech NN . .
According VBG to TO the DT American NNP Cancer NNP Society NNP , , smoking NN is VBZ responsible JJ for IN 85 CD % NN of IN the DT lung-cancer NN cases NNS among IN men NNS and CC 75 CD % NN among IN women NNS . .
The DT NCI NNP report NN attributes VBZ the DT differences NNS in IN mortality NN rates NNS by IN race NN to TO different JJ smoking NN patterns NNS . .
A DT higher JJR proportion NN of IN black JJ men NNS  smoke VBP than IN white JJ men NNS . .
While IN nearly RB equal JJ percentages NNS of IN black JJ and CC white JJ women NNS currently RB smoke VBP , , in IN both DT sexes NNS more JJR whites NNS  have VBP given VBN up RP smoking NN than IN blacks NNS . .
In IN  comparing VBG changes NNS in IN mortality NN rates NNS over IN the DT past NN decade NN , , the DT NCI NNP study NN looked VBD only RB at IN blacks NNS and CC whites NNS . .
Asians NNPS and CC native JJ Americans NNPS were VBD n't RB studied VBN  ; : Hispanics NNPS were VBD included VBN  with IN whites NNS . .
Recent JJ changes NNS in IN average JJ annual JJ age-specific JJ lung-cancer NN rates NNS per IN 100,000 CD population NN by IN race NN and CC sex NN . .
White NNP Males NNPS
White NNP Females NNPS
Black NNP Males NNPS
Black NNP Females NNPS
Directors NNS elected VBD R. NNP Marvin NNP Womack NNP , , currently RB vice NN president\/product NN supply NN , , purchasing NN , ,  to TO head VB the DT company NN 's POS Washington NNP , , D.C. NNP , , office NN . .
As IN vice NN president\/national-government NN relations NNS , , Mr. NNP Womack NNP will MD work VB with IN P&G NNP 's POS top JJ management NN and CC with IN the DT company NN 's POS government-relations NNS staff NN `` ``  to TO represent VB P&G NNP 's POS interests NNS at IN the DT federal JJ level NN , , '' '' said VBD   John NNP G. NNP Smale NNP , , chairman NN and CC chief NN executive NN officer NN . .
Mr. NNP Smale NNP said VBD  the DT appointment NN `` `` recognizes VBZ the DT growing VBG influence NN of IN government NN on IN our PRP$ business NN . . '' ''
Mr. NNP Womack NNP , , 53 CD years NNS old JJ , , has VBZ been VBN with IN the DT big JJ producer NN of IN household NN products NNS , , food NN and CC pharmaceuticals NNS for IN 30 CD years NNS . .
Traders NNS trying VBG  to TO profit VB from IN the DT recent JJ volatility NN in IN financial JJ markets NNS invaded VBD the DT Nasdaq NNP over-the-counter NN market NN , ,  prompting VBG even RB more JJR swings NNS in IN stock NN prices NNS . .
After IN  gaining VBG strength NN during IN a DT brief JJ run-up NN when WRB trading NN began VBD  , , the DT Nasdaq NNP Composite NNP Index NNP weakened VBD under IN selling VBG pressure NN . .
The DT forces NNS at IN work NN included VBD computer-guided JJ trading NN , , as RB well RB as IN profit-driven JJ market NN makers NNS and CC institutional JJ investors NNS who WP  had VBD bought VBN stock NN on IN the DT cheap NN during IN the DT recent JJ correction NN . .
During IN the DT last JJ two CD hours NNS of IN trading NN , , the DT composite NN almost RB drew VBD even RB on IN the DT day NN before IN  slipping VBG again RB . .
The DT Nasdaq NNP Composite NNP closed VBD down RB 1.05 CD , , or CC 0.2 CD % NN , , to TO 459.93 CD . .
The DT action NN was VBD confined VBN  to TO Nasdaq NNP 's POS biggest JJS and CC most RBS liquid JJ stocks NNS , , traders NNS said VBD   . .
The DT Nasdaq NNP 100 CD Index NNP began VBD the DT day NN at IN 449.89 CD , , lost VBN 2 CD % NN at IN one CD point NN , , and CC was VBD up IN 0.4 CD % NN at IN another DT . .
The DT barometer NN of IN the DT biggest JJS nonfinancial JJ stocks NNS settled VBD at IN 448.49 CD , , off IN 1.40 CD . .
Its PRP$ counterpart NN , , the DT Nasdaq NNP Financial NNP Index NNP , , was VBD weak JJ for IN most JJS of IN the DT day NN , ,  sliding VBG 2.51 CD to TO 453.57 CD by IN the DT end NN of IN trading NN . .
The DT volatility NN was VBD dizzying JJ for IN traders NNS . .
`` `` The DT market NN must MD have VB turned VBN up RB and CC down RB 15 CD different JJ times NNS , , '' '' commented VBD  Lance NNP Zipper NNP , , head NN of IN OTC NN trading NN at IN Kidder NNP Peabody NNP . .
`` `` Every DT time NN  you PRP thought VBD  it PRP was VBD going VBG into IN a DT rally NN  it PRP gave VBD up IN , , and CC every DT time NN  you PRP thought VBD  it PRP would MD rally VB  it PRP came VBD down RB . .
This DT is VBZ a DT tough JJ market NN . . '' ''
Mr. NNP Zipper NNP said VBD  the DT market NN is VBZ still RB settling VBG down RP after IN the DT recent JJ correction NN . .
Most JJS of IN trading NN action NN now RB is VBZ from IN professional JJ traders NNS who WP  are VBP trying VBG  to TO take VB advantage NN of IN the DT price NN swings NNS  to TO turn VB a DT quick JJ profit NN , , he PRP and CC other JJ traders NNS said VBD   . .
`` `` Everybody NN 's VBZ confused VBN and CC no DT one NN has VBZ an DT opinion NN that WDT  lasts VBZ longer RB than IN 30 CD seconds NNS , , '' '' said VBD  Mr. NNP Zipper NNP . .
`` `` A DT lot NN of IN the DT professional JJ traders NNS are VBP just RB going VBG back RB and CC forth RB . .
They PRP 're VBP just RB as RB confused VBN . . '' ''
William NNP Rothe NNP , , head NN of IN OTC NNP trading NN at IN Alex NNP . . Brown NNP & CC Sons NNPS , , in IN Baltimore NNP , , said VBD  program NN trading NN is VBZ keeping VBG the DT markets NNS unsettled VBN . .
He PRP believes VBZ that IN the DT volatile JJ conditions NNS created VBN  by IN program NN trading NN has VBZ `` `` thoroughly RB confused VBN '' '' investors NNS about IN where WRB the DT market NN is VBZ headed VBN   . .
Program NN trading NN is VBZ `` `` benefiting VBG a DT few JJ to TO the DT detriment NN of IN many JJ and CC I PRP wish VBP  someone NN would MD do VB something NN about IN it PRP , , '' '' he PRP complained VBD   . .
Trading NN activity NN cooled VBD off RP from IN Monday NNP 's POS sizzling JJ pace NN . .
Share NN turnover NN subsided VBD to TO 161.5 CD million CD . .
Advancing VBG and CC declining VBG issues NNS finished VBD  about IN even RB . .
Of IN the DT 4,345 CD stocks NNS that IN  changed VBD hands NNS , , 1,174 CD  declined VBD and CC 1,040 CD  advanced VBD . .
One CD big JJ technology NN issue NN , , Novell NNP , , rode VBD the DT roller NN coaster NN . .
The DT stock NN , , which WDT  finished VBD Monday NNP at IN 29 CD 1\/2 CD , , traded VBD as RB high JJ as IN 29 CD 3\/4 CD and CC as RB low JJ as IN 28 CD 3\/4 CD before IN  closing VBG at IN 29 CD 1\/4 CD , , down IN 1\/4 CD . .
It PRP was VBD a DT jarring VBG day NN for IN investors NNS in IN Genetics NNP Institute NNP . .
The DT stock NN tumbled VBD 2 CD 3\/4 CD on IN news NN that IN it PRP might MD have VB  to TO take VB a DT charge NN against IN earnings NNS if IN it PRP ca MD n't RB successfully RB resolve VB a DT dispute NN with IN its PRP$ European JJ licensee NN , , Boehringer NNP Mannheim NNP , , over IN its PRP$ anti-anemia NN drug NN , , EPO NNP . .
The DT stock NN recovered VBD somewhat RB  to TO finish VB 1 CD 1\/4 CD lower JJR at IN 26 CD 1\/4 CD . .
In IN a DT statement NN , , Genetics NNP Institute NNP said VBD  the DT dispute NN with IN Boehringer NNP centers VBZ on IN questions NNS of IN the DT usability NN of IN certain JJ batches NNS of IN EPO NNP material NN valued VBN  at IN $ $ 13.6 CD million CD  . .
Earlier RBR this DT week NN , , Genetics NNP Institute NNP reported VBD wider JJR losses NNS in IN its PRP$ fiscal JJ third JJ quarter NN ended VBD Aug. NNP 31 CD . .
Price NNP Co. NNP jumped VBD 2 CD 1\/4 CD to TO 44 CD on IN 1.7 CD million CD shares NNS . .
The DT wholesaler NN of IN cash NN and CC carry NN merchandise NN reported VBD fiscal JJ fourthquarter NN earnings NNS that WDT  were VBD better JJR than IN analysts NNS had VBD expected VBN  . .
The DT company NN also RB pleased VBD analysts NNS by IN  announcing VBG four CD new JJ store NN openings NNS planned VBN  for IN fiscal JJ 1990 CD , , ending VBG next JJ August NNP . .
That DT will MD bring VB the DT total NN for IN the DT year NN to TO 10 CD , , from IN five CD during IN fiscal JJ 1989 CD . .
`` `` Every DT year NN we PRP 've VBP been VBN waiting VBG for IN stepped-up JJ expansion NN from IN the DT company NN . .
The DT news NN could MD n't RB have VB been VBN better JJR , , '' '' said VBD  Linda NNP Kristiansen NNP , , a DT Dean NNP Witter NNP Reynolds NNP analyst NN , , in IN an DT interview NN . .
Intermec NNP , , a DT maker NN of IN optical JJ character-recognition NN devices NNS , , also RB reported VBD higher JJR third-quarter NN earnings NNS . .
Its PRP$ shares NNS added VBD 3\/4 CD to TO 30 CD 3\/4 CD . .
But CC favorable JJ earnings NNS was VBD n't RB a DT guarantee NN that IN a DT stock NN 's POS price NN would MD improve VB yesterday NN . .
MCI NNP Communications NNP tumbled VBD 2 CD 5\/8 CD to TO 42 CD 3\/8 CD on IN 4.7 CD million CD shares NNS even RB though IN the DT telecommunications NNS giant NN reported VBD a DT 63 CD % NN increase NN in IN third-quarter NN profit NN . .
CoreStates NNPS Financial NNP slipped VBD 3\/8 CD to TO 43 CD 1\/8 CD in IN active JJ trading NN after IN  reporting VBG that IN third-quarter NN earnings NNS improved VBD to TO $ $ 1.27 CD  a DT share NN from IN $ $ 1.15 CD  a DT share NN a DT year NN earlier RBR . .
However RB , , the DT bank NN holding VBG company NN 's POS loan-loss NN reserves NNS rose VBD to TO $ $ 177.3 CD million CD  from IN $ $ 154 CD million CD  a DT year NN earlier RBR . .
A&W NNP Brands NNPS lost VBD 1\/4 CD to TO 27 CD . .
But CC its PRP$ thirdquarter NN earnings NNS rose VBD to TO 26 CD cents NNS a DT share NN from IN 18 CD cents NNS a DT share NN last JJ year NN . .
Capital NNP Associates NNPS dropped VBD 1 CD to TO 5 CD 3\/8 CD . .
The DT company NN , , which WDT  leases VBZ technology NN equipment NN , , reported VBD substantially RB lower JJR net NN income NN for IN its PRP$ fiscal JJ first JJ quarter NN , , which WDT  ended VBD Aug. NNP 31 CD . .
Robert NNP M. NNP Jelenic NNP , , 39 CD , , was VBD named VBN  president NN  and CC chief NN operating VBG officer NN  of IN this DT closely RB held VBN publisher NN . .
The DT post NN had VBD been VBN vacant JJ for IN more RBR than IN a DT year NN . .
Mr. NNP Jelenic NNP had VBD been VBN executive JJ vice NN president NN for IN operations NNS . .
In IN addition NN , , Ralph NNP Ingersoll NNP II NNP , , 43 CD , , chairman NN and CC chief NN executive NN , , said VBD  he PRP would MD take VB on RP additional JJ responsibilities NNS as IN editor NN in IN chief NN of IN the DT company NN . .
John NNP Wilpers NNP resigned VBD as IN editor NN in IN chief NN . .
Mr. NNP Ingersoll NNP remains VBZ editor NN in IN chief NN of IN the DT company NN 's POS recently RB launched VBN daily RB , , the DT St. NNP Louis NNP Sun NNP . .
Also RB , , Jean NNP B. NNP Clifton NNP , , 28 CD , , was VBD named VBN  executive JJ vice NN president NN , , treasurer NN and CC chief NN financial JJ officer NN . .
Michael NNP Applebaum NNP resigned VBD after IN less RBR than IN a DT year NN in IN the DT posts NNS . .
Ms. NNP Clifton NNP had VBD been VBN executive JJ financial JJ assistant NN to TO the DT chairman NN . .
Certainly RB conservative JJ environmentalists NNS can MD defend VB their PRP$ limited VBN government NN position NN by IN  differentiating VBG between IN Old NNP Environmentalism NNP and CC New NNP Environmentalism NNP -LRB- -LRB- `` `` Journalists NNPS and CC Others NNPS for IN Saving NNP the DT Planet NNP , , '' '' by IN David NNP Brooks NNP , , editorial NN page NN , , Oct. NNP 5 CD -RRB- -RRB- . .
Old NNP Environmentalism NNP involved VBD microbe NN hunters NNS and CC sanitationists NNS . .
It PRP started VBD with IN improvements NNS in IN hygiene NN made VBN  possible JJ by IN affordable JJ soap NN and CC washable JJ underwear NN during IN the DT Industrial NNP Revolution NNP . .
Then RB cast-iron JJ sewer NN pipe NN and CC the DT flush JJ toilet NN were VBD followed VBN  by IN sewage NN - : and CC water-treatment NN plants NNS toward IN the DT end NN of IN the DT 19th JJ century NN . .
Medicine NN in IN the DT 19th JJ century NN was VBD dedicated VBN  mostly RB to TO  combating VBG sepsis NN and CC diagnostic JJ analysis NN . .
Then RB the DT 20th JJ century NN saw VBD the DT evolution NN of IN private-sector JJ wonder NN drugs NNS , , which WDT  promulgated VBD medical JJ therapy NN . .
The DT process NN dramatically RB increased VBD our PRP$ average JJ life NN expectancy NN , , eliminated VBD much JJ pain NN and CC constantly RB improved VBN health NN and CC well-being NN . .
Most JJS public-health NN measures NNS were VBD handled VBN  at IN the DT local JJ level NN . .
New NNP Environmentalism NNP probably RB started VBD in IN 1962 CD with IN the DT publication NN of IN Rachel NNP Carson NNP 's POS book NN `` `` Silent NNP Spring NNP . . '' ''
Shortly RB thereafter RB , , hysterical JJ articles NNS began VBD  to TO appear VB  predicting VBG that IN advanced VBN industrial JJ societies NNS would MD produce VB a DT blackened VBN , , uninhabitable JJ planet NN possibly RB by IN the DT turn NN of IN the DT century NN . .
These DT apocalyptic JJ predictions NNS were VBD advanced VBN  by IN such JJ stalwarts NNS as IN Paul NNP Ehrlich NNP , , Barry NNP Commoner NNP , , Rene NNP Dubois NNP and CC George NNP Wald NNP . .
 Writing VBG in IN the DT 1960s CD Ms. NNP Carson NNP suggested VBD that IN the DT human JJ race NN could MD be VB eliminated VBN  in IN 20 CD years NNS , , and CC Mr. NNP Wald NNP suggested VBD that DT life NN on IN earth NN might MD end VB by IN 1985 CD . .
Mr. NNP Ehrlich NNP predicted VBD unprecedented JJ famine NN by IN 1980 CD . .
There EX were VBD many RB more JJR . .
Thousands NNS of IN chemical NN products NNS were VBD categorized VBN  as IN carcinogenic JJ , , with IN recommendations NNS that IN they PRP be VB banned VBN  from IN industrial JJ use NN because IN they PRP produced VBD malignant JJ tumors NNS in IN overdosed VBN rats NNS . .
Unknown JJ before IN 1960 CD were VBD  the DT inconclusive JJ effects NNS of IN acid NN rain NN , , greenhouse NN warming NN and CC ozone NN depletion NN , , all DT of IN which WDT  required VBD burgeoning VBG political JJ power NN and CC gargantuan JJ expense NN . .
Meanwhile RB , , the DT New NNP Environmentalists NNPS systematically RB opposed VBD the DT methods NNS of IN the DT Old NNP Environmentalists NNPS . .
Local JJ pollution NN problems NNS require VBP cheap JJ energy NN and CC capital NN for IN their PRP$ solution NN . .
But CC the DT New NNP Environmentalists NNPS oppose VBP private JJ wealth NN creation NN -LRB- -LRB- which WDT , , they PRP claim VBP   , ,  depletes VBZ natural JJ resources NNS -RRB- -RRB- and CC nuclear JJ power NN -LRB- -LRB- even RB though IN it PRP would MD counteract VB the DT greenhouse NN effect NN -RRB- -RRB- . .
They PRP are VBP in IN the DT forefront NN of IN  opposing VBG the DT search NN for IN new JJ landfills NNS and CC methods NNS of IN incineration NN and CC even RB oppose VBP new JJ methods NNS of IN research NN such JJ as IN genetic JJ engineering NN . .
New NNP Environmentalism NNP is VBZ an DT emotional JJ attack NN on IN proven VBN methods NNS of IN  improving VBG our PRP$ quality NN of IN life NN and CC a DT bid NN for IN political JJ power NN . .
 Let VB 's PRP  rationalize VB our PRP$ priorities NNS by IN  solving VBG pollution NN problems NNS at IN the DT local JJ level NN as RB heretofore RB . .
Harry NNP Lee NNP Smith NNP Alpharetta NNP , , Ga NNP . .
Your PRP$ story NN missed VBD some DT essential JJ points NNS of IN the DT conference NN on IN `` `` The NNP Global NNP Environment NNP : : Are VBP We PRP Overreacting VBG ? . '' ''
First RB and CC foremost RB , , the DT vignettes NNS presented VBN  by IN the DT various JJ scientists NNS represent VBP a DT general JJ consensus NN among IN specialists NNS working VBG in IN the DT respective JJ aspects NNS of IN the DT global JJ environment NN . .
 Consider VB , , for IN example NN , , the DT greenhouse NN effect NN and CC climate NN change NN ; : numerous JJ blue-ribbon JJ scientific JJ committees NNS , , including VBG one CD from IN the DT National NNP Academy NNP of IN Science NNP , , judge VBP  there EX is VBZ a DT greater JJR than IN 50 CD % NN probability NN of IN a DT grave JJ problem NN in IN the DT offing NN . .
The DT point NN was VBD  to TO answer VB the DT question NN in IN the DT conference NN title NN , , not RB  to TO try VB  to TO create VB news NN stories NNS for IN the DT event NN itself PRP . .
Nor CC was VBD it PRP intended VBN  to TO dictate VB a DT set NN of IN prescriptive JJ solutions NNS , , although IN various JJ points NNS were VBD raised VBN  . .
Each DT speaker NN was VBD asked VBN  to TO address VB a DT specific JJ topic NN , , not RB deliver VB a DT point NN of IN view NN . .
Each DT scientist NN independently RB concluded VBD  society NN and CC government NN are VBP underreacting VBG when WRB it PRP comes VBZ to TO substantive JJ policy NN change NN  . .
This DT leads VBZ to TO a DT very RB special JJ sense NN of IN urgency NN . .
If IN the DT media NNS decide VBP  to TO work VB harder RBR at IN  educating VBG the DT public NN about IN these DT complex JJ and CC technical JJ issues NNS , , that WDT hardly RB can MD be VB termed VBN  non-objective JJ journalism NN . .
The DT environment NN can MD no RB longer RB be VB a DT normal JJ issue NN , ,  to TO be VB dealt VBN  with IN on IN a DT business-as-usual JJ basis NN with IN comfortable JJ increments NNS of IN change NN . .
We PRP have VBP literally RB altered VBN the DT chemistry NN and CC physics NNS of IN our PRP$ planet NN 's POS atmosphere NN . .
This DT portends VBZ consequences NNS from IN what WP we PRP have VBP already RB done VBN  that WDT  will MD be VB very RB destabilizing VBG to TO social JJ and CC economic JJ systems NNS . .
The DT problems NNS of IN the DT environment NN are VBP so RB interrelated JJ , , so RB inextricably RB entwined VBN with IN our PRP$ current JJ way NN of IN life NN and CC so RB large JJ that IN it PRP  is VBZ unlikely JJ  we PRP will MD be VB able JJ  to TO address VB them PRP effectively RB unless IN major JJ changes NNS are VBP made VBN  in IN less RBR than IN 10 CD years NNS . .
The DT consensus NN from IN the DT scientific JJ community NN is VBZ that IN there EX is VBZ sufficient JJ evidence NN  to TO advise VB major JJ policy NN changes NNS . .
No RB , , we PRP are VBP not RB overreacting VBG . .
Thomas NNP E. NNP Lovejoy NNP Assistant NNP Secretary NNP for IN External NNP Affairs NNPS Smithsonian NNP Institution NNP
Coca-Cola NNP Enterprises NNPS Inc. NNP , ,  fulfilling VBG its PRP$ dismal JJ earnings NNS forecast VBN for IN 1989 CD , , said VBD  its PRP$ third-quarter NN net NN income NN fell VBD 68 CD % NN on IN flat JJ revenue NN . .
 Stung VBN by IN higher JJR marketing NN costs NNS and CC slowing VBG volume NN growth NN , , the DT giant JJ Coke NNP bottling NN operation NN said VBD  net NN fell VBD to TO $ $ 12.7 CD million CD  , , or CC six CD cents NNS a DT share NN , , from IN $ $ 39.9 CD million CD  , , or CC 26 CD cents NNS a DT share NN , , the DT year NN earlier RBR . .
The DT results NNS met VBD estimates NNS of IN analysts NNS , , who WP  had VBD already RB slashed VBN their PRP$ projections NNS after IN the DT company NN said VBD in IN late JJ August NNP that IN its PRP$ 1989 CD earnings NNS could MD tumble VB as RB much RB as IN 37 CD % NN . .
A DT company NN spokesman NN said VBD yesterday NN that IN Coca-Cola NNP Enterprises NNPS sticks VBZ by IN its PRP$ 1989 CD forecast NN . .
Third-quarter NN revenue NN was VBD flat JJ at IN $ $ 1.02 CD billion CD  . .
The DT year-ago JJ results NNS , , however RB , , included VBD the DT operations NNS of IN a DT bottling NN business NN , , which WDT  was VBD sold VBN  last JJ December NNP . .
 Excluding VBG that DT bottling NN business NN , , Coca-Cola NNP Enterprises NNPS ' POS volume NN , , measured VBN  by IN cases NNS of IN soda NN , , rose VBD only RB 1 CD % NN . .
The DT volume NN is VBZ well RB below IN the DT industry NN 's POS 4 CD % NN to TO 5 CD % NN growth NN rate NN of IN recent JJ years NNS , , but CC in IN line NN with IN other JJ soft-drink JJ companies NNS for IN the DT third JJ quarter NN . .
The DT latest JJS third-quarter NN volume NN also RB compares VBZ with IN a DT very RB strong JJ 10 CD % NN growth NN in IN the DT year-ago JJ quarter NN . .
Coca-Cola NNP Enterprises NNPS blamed VBD the DT lower JJR volume NN on IN its PRP$ soft-drink JJ prices NNS , , which WDT  were VBD about IN 3 CD % NN higher JJR in IN the DT third JJ quarter NN . .
Consumers NNS have VBP been VBN accustomed VBN  to TO  buying VBG soft-drinks NNS at IN discounted VBN prices NNS for IN several JJ years NNS . .
Coca-Cola NNP Enterprises NNPS said VBD  it PRP had VBD  to TO boost VB spending VBG for IN trade NN and CC dealer NN incentives NNS  to TO try VB  to TO keep VB volumes NNS from IN  slipping VBG . .
The DT company NN said VBD  it PRP expects VBZ  consumers NNS will MD adjust VB to TO higher-priced JJ soft JJ drinks NNS . .
A DT spokesman NN attributed VBD the DT bulk NN of IN a DT 14 CD % NN increase NN in IN selling VBG , , administrative JJ and CC general JJ expenses NNS -- : to TO $ $ 324.9 CD million CD  -- : to TO marketing NN costs NNS . .
`` `` They PRP 're VBP out IN there RB  promoting VBG like IN crazy JJ , ,  trying VBG  to TO get VB prices NNS up IN by IN promotion NN , , '' '' said VBD  Roy NNP Burry NNP , , an DT analyst NN with IN Kidder NNP , , Peabody NNP & CC Co NNP . .
For IN the DT nine CD months NNS , , Coca-Cola NNP Enterprises NNPS ' POS net NN fell VBD 31 CD % NN to TO $ $ 65 CD million CD  , , or CC 39 CD cents NNS a DT share NN , , from IN $ $ 93.8 CD million CD  , , or CC 63 CD cents NNS a DT share NN . .
Revenue NN was VBD flat JJ at IN about IN $ $ 2.97 CD billion CD  . .
Coca-Cola NNP Enterprises NNPS , , which WDT  is VBZ 49%-owned JJ by IN Coca-Cola NNP Co. NNP , , also RB said VBD  it PRP repurchased VBD about IN 1.2 CD million CD of IN its PRP$ common JJ shares NNS during IN the DT third JJ quarter NN . .
The DT buy-back NN is VBZ part NN of IN a DT 25-million-share JJ repurchase VBN plan NN , , under IN which WDT Coca-Cola NNP Enterprises NNPS so RB far RB has VBZ acquired VBN a DT total NN of IN 9.7 CD million CD shares NNS  . .
Separately RB , , Purchase NNP , , N.Y.-based JJ PepsiCo NNP Inc. NNP , , as IN  expected VBN  , , said VBD  fiscal JJ third-quarter NN net NN rose VBD 11 CD % NN to TO $ $ 269.3 CD million CD  , , or CC $ $ 1.02 CD  a DT share NN , , from IN $ $ 241.6 CD million CD  , , or CC 91 CD cents NNS a DT share NN . .
Sales NNS rose VBD 25 CD % NN to TO $ $ 3.90 CD billion CD  from IN $ $ 3.13 CD billion CD  . .
The DT year-ago JJ quarter NN 's POS results NNS include VBP an DT after-tax JJ charge NN of IN $ $ 5.9 CD million CD  from IN the DT sale NN of IN a DT winery NN in IN Spain NNP . .
In IN composite JJ trading NN on IN the DT New NNP York NNP Stock NNP Exchange NNP , , Coca-Cola NNP Enterprises NNPS closed VBD at IN $ $ 16.375 CD  a DT share NN , , down IN 62.5 CD cents NNS . .
PepsiCo NNP closed VBD at IN $ $ 58.50 CD  a DT share NN , , up IN $ $ 1.375 CD  . .
L.J. NNP Hooker NNP Corp. NNP is VBZ expected VBN  to TO reach VB an DT agreement NN  in IN principle NN this DT week NN  to TO sell VB Merksamer NNP Jewelers NNPS Inc. NNP to TO management NN , , say VBP   executives NNS familiar JJ with IN the DT talks NNS . .
L.J. NNP Hooker NNP , , based VBN  in IN Atlanta NNP , , filed VBD for IN Chapter NN 11 CD bankruptcy NN protection NN earlier RBR this DT year NN . .
Currently RB , , its PRP$ parent NN company NN , , Hooker NNP Corp. NNP of IN Sydney NNP , , Australia NNP , , is VBZ being VBG managed VBN  by IN a DT court-appointed JJ liquidator NN . .
It PRP is VBZ expected VBN  that IN GE NNP Capital NNP Corp. NNP , , a DT financial-services NNS subsidiary NN of IN General NNP Electric NNP Co. NNP , , will MD provide VB much RB of IN the DT funding NN for IN the DT proposed VBN leveraged JJ buy-out NN of IN Merksamer NNP , , based VBN  in IN Sacramento NNP , , Calif NNP . .
A DT spokesman NN for IN GE NNP Capital NNP declined VBD  to TO comment VB . .
GE NNP Capital NNP has VBZ a DT working VBG relationship NN with IN L.J. NNP Hooker NNP . .
It PRP is VBZ providing VBG $ $ 50 CD million CD  in IN emergency NN financing NN to TO the DT company NN and CC has VBZ agreed VBN  to TO buy VB as RB much RB as IN $ $ 75 CD million CD  in IN receivables NN from IN B. NNP Altman NNP & CC Co. NNP and CC Bonwit NNP Teller NNP , , L.J. NNP Hooker NNP 's POS two CD fully RB owned VBN department-store NN chains NNS . .
Sam NNP Merksamer NNP , , chief NN executive NN officer NN of IN the DT nationwide JJ jewelry NN chain NN , , and CC Sanford NNP Sigoloff NNP , , chief NN executive NN of IN L.J. NNP Hooker NNP Corp. NNP , , both DT declined VBD  to TO comment VB . .
Currently RB , , Mr. NNP Merksamer NNP owns VBZ 20 CD % NN of IN the DT company NN ; : L.J. NNP Hooker NNP acquired VBD its PRP$ 80 CD % NN interest NN in IN the DT firm NN in IN May NNP 1986 CD . .
At IN the DT time NN , , the DT Merksamer NNP chain NN had VBD 11 CD stores NNS in IN operation NN . .
Today NN , , there EX are VBP 77 CD units NNS , , all DT located VBN in IN shopping NN malls NNS . .
In IN recent JJ weeks NNS Mr. NNP Merksamer NNP has VBZ approached VBN a DT number NN of IN his PRP$ suppliers NNS and CC asked VBN them PRP  to TO provide VB letters NNS of IN intent NN saying VBG  they PRP will MD continue VB  shipping VBG merchandise NN to TO the DT chain NN following VBG the DT buy-out NN , , say VBP   those DT familiar JJ with IN the DT situation NN . .
This DT year NN , , a DT number NN of IN retail JJ leveraged JJ buyouts NNS have VBP failed VBN , ,  causing VBG jitters NNS among IN suppliers NNS , , and CC Mr. NNP Merksamer NNP apparently RB wanted VBD assurances NNS that IN he PRP wo MD n't RB have VB delivery NN problems NNS . .
For IN the DT year NN ended VBD June NNP 30 CD , , 1989 CD , , Merksamer NNP Jewelers NNPS had VBD $ $ 62 CD million CD  of IN revenue NN and CC operating VBG profit NN of IN $ $ 2.5 CD million CD  . .
The DT jewelery NN chain NN was VBD put VBN  up IN for IN sale NN in IN June NNP . .
According VBG to TO those DT familiar JJ with IN the DT situation NN , , other JJ bidders NNS included VBD Ratners NNP Group NNP PLC NNP of IN London NNP and CC Kay NNP Jewelers NNPS Inc NNP . .
First NNP Boston NNP Corp. NNP is VBZ advising VBG L.J. NNP Hooker NNP on IN the DT sale NN of IN the DT Merksamer NNP business NN . .
Merksamer NNP was VBD the DT first JJ in IN a DT series NN of IN retail JJ acquisitions NNS made VBN  by IN L.J. NNP Hooker NNP . .
The DT company NN was VBD founded VBN  in IN Sacramento NNP in IN 1929 CD by IN two CD brothers NNS , , Ralph NNP and CC Walter NNP Merksamer NNP , , who WP  operated VBD as IN DeVon NNP 's POS Jewelers NNPS . .
In IN 1979 CD , , the DT pair NN split VBD the DT company NN in IN half DT , , with IN Walter NNP and CC his PRP$ son NN , , Sam NNP , , agreeing VBG  to TO operate VB under IN the DT Merksamer NNP Jewelery NNP name NN . .
The DT sale NN of IN Merksamer NNP Jewelers NNPS is VBZ subject JJ to TO approval NN by IN Judge NNP Tina NNP Brozman NNP of IN U.S. NNP Bankruptcy NNP Court NNP . .
As IN  earlier RBR reported VBN  , , L.J. NNP Hooker NNP this DT week NN received VBD a DT $ $ 409 CD million CD  bid NN for IN its PRP$ three CD shopping NN malls NNS , , plus CC other JJ properties NNS from IN a DT consortium NN led VBN  by IN Honolulu NNP real-estate NN investor NN Jay NNP Shidler NNP and CC A. NNP Boyd NNP Simpson NNP , , an DT Atlanta NNP developer NN and CC former JJ L.J. NNP Hooker NNP senior JJ executive NN . .
The DT offer NN , , which WDT  did VBD n't RB include VB the DT Merksamer NNP chain NN , , is VBZ being VBG reviewed VBN  by IN Mr. NNP Sigoloff NNP . .
Robert NNP J. NNP Regal NNP was VBD named VBN  president NN  and CC chief NN executive JJ officer NN  of IN this DT company NN 's POS Universal-Rundle NNP Corp. NNP unit NN . .
Mr. NNP Regal NNP had VBD been VBN president NN  and CC chief NN executive NN  of IN RBS NNP Industries NNPS Inc NNP . .
Robert NNP H. NNP Carlson NNP , , previous JJ president NN and CC chief NN executive NN of IN Universal-Rundle NNP , , will MD assume VB the DT title NN of IN chairman NN of IN the DT unit NN , , a DT vitreous-china NN maker NN . .
The DT days NNS  may MD be VB numbered VBN  for IN animated VBN shows NNS featuring VBG Alf NNP , , the DT Karate NNP Kid NNP and CC the DT Chipmunks NNPS . .
NBC NNP , , a DT leader NN in IN morning NN , , prime-time JJ and CC late JJ night NN programs NNS but CC an DT also-ran NN on IN Saturday NNP mornings NNS , , when WRB children NNS rule VB the DT TV NN set NN  , , is VBZ contemplating VBG  getting VBG out IN of IN the DT cartoon NN business NN . .
Instead RB , , network NN officials NNS say VBP   , , it PRP may MD `` `` counterprogram VB '' '' with IN shows NNS for IN an DT audience NN that WDT  is VBZ virtually RB ignored VBN in IN that DT time NN period NN : : adults NNS . .
`` `` There EX is VBZ talk NN of IN some DT revamping VBG and CC we PRP 're VBP certainly RB heading VBG in IN the DT direction NN of IN less JJR and CC less JJR animation NN , , '' '' said VBD  Joseph NNP S. NNP Cicero NNP , , vice NN president NN of IN finance NN and CC administration NN for IN National NNP Broadcasting NNP Co. NNP , , a DT unit NN of IN General NNP Electric NNP Co NNP . .
Mr. NNP Cicero NNP said VBD that IN NBC NNP Entertainment NNP president NN Brandon NNP Tartikoff NNP , , who WP  declined VBD  to TO be VB interviewed VBN  , , is VBZ `` `` looking VBG at IN options NNS now RB and CC may MD put VB some DT things NNS into IN the DT schedule NN by IN mid-season NN . . '' ''
He PRP declined VBD  to TO elaborate VB . .
NBC NNP 's POS options NNS could MD range VB from IN news-oriented JJ programming NN to TO sports NNS shows NNS , , although IN the DT network NN declined VBD  to TO comment VB . .
One CD major JJ NBC NNP affiliate NN , , KCRA NNP in IN Sacramento NNP , , plans VBZ  to TO cancel VB the DT NBC NNP Saturday NNP morning NN line-up NN as IN of IN January NNP and CC replace VB it PRP with IN a DT local JJ newscast NN . .
The DT one-hour JJ program NN will MD be VB repeated VBN  with IN updates NNS throughout IN Saturday NNP mornings NNS . .
`` `` We PRP feel VBP  there EX is VBZ an DT opportunity NN for IN an DT audience NN that WDT  is VBZ not RB being VBG served VBN  by IN any DT network NN , , so IN we PRP want VBP  to TO take VB the DT lead NN , , '' '' says VBZ  KCRA NNP 's POS general JJ manager NN , , John NNP Kueneke NNP . .
`` `` We PRP do VBP n't RB need VB cartoons NNS anymore RB . .
They PRP only RB accounted VBD for IN 5 CD % NN , , at IN best JJS , , of IN the DT station NN 's POS total JJ revenues NNS . . '' ''
An DT NBC NNP spokesman NN says VBZ  the DT network NN will MD `` `` closely RB monitor VB '' '' the DT Sacramento NNP situation NN , , and CC says VBZ  it PRP is VBZ the DT only JJ station NN   to TO defect VB . .
Spokesmen NNS for IN the DT television NN networks NNS of IN CBS NNP Inc. NNP and CC Capital NNP Cities\/ABC NNP Inc. NNP , , say VBP  there EX are VBP no DT plans NNS  to TO alter VB the DT children NNS 's POS line-up NN on IN Saturday NNP mornings NNS . .
The DT youthful JJ audience NN for IN Saturday NNP programming NN is VBZ no DT longer RB dependent JJ on IN the DT networks NNS . .
There EX has VBZ been VBN a DT surge NN in IN syndicated VBN children NNS 's POS shows NNS to TO independent JJ stations NNS , , as RB well RB as IN competition NN from IN videocassettes NNS for IN kids NNS and CC from IN cable NN outlets NNS such JJ as IN Nickelodeon NNP and CC the DT Disney NNP Channel NNP . .
At IN the DT same JJ time NN , , there EX appears VBZ  to TO be VB a DT market NN for IN news-oriented JJ programming NN ; : Turner NNP Broadcasting NNP System NNP Inc. NNP 's POS Cable NNP News NNP Network NNP has VBZ its PRP$ highest JJS ratings NNS , , outside IN of IN prime JJ time NN , , on IN Saturday NNP mornings NNS . .
NBC NNP has VBZ on IN previous JJ occasions NNS considered VBN replacing VBG cartoons NNS with IN a DT Saturday NNP version NN of IN `` `` Today NNP , , '' '' which WDT  is VBZ produced VBN  by IN NBC NNP News NNP . .
The DT network NN 's POS own JJ production NN company NN , , NBC NNP Productions NNPS , , supplies VBZ a DT half-hour JJ family-oriented JJ show NN titled VBN  `` ``  Saved NNP By NNP The NNP Bell NNP . . '' ''
NBC NNP Productions NNPS or CC NBC NNP News NNP could MD supply VB the DT network NN with IN other JJ Saturday NNP morning NN shows NNS , , a DT move NN that WDT  would MD control VB costs NNS . .
Animated JJ shows NNS , , which WDT  are VBP made VBN  by IN outside JJ production NN companies NNS , , cost VBD the DT network NN about IN $ $ 300,000 CD  per IN episode NN . .
Rohm NNP & CC Haas NNP Co. NNP said VBD  third-quarter NN net NN income NN skidded VBD 35 CD % NN to TO $ $ 32.6 CD million CD  , , or CC 49 CD cents NNS a DT share NN . .
In IN the DT year-earlier JJ quarter NN , , the DT chemicals NNS company NN had VBD net NN of IN $ $ 49.8 CD million CD  , , or CC 75 CD cents NNS a DT share NN . .
Sales NNS were VBD $ $ 623 CD million CD  , , up IN 0.5 CD % NN from IN $ $ 619.8 CD million CD  a DT year NN ago IN . .
Rohm NNP & CC Haas NNP , , which WDT  plans VBZ  to TO start VB  operating VBG seven CD new JJ production NN units NNS this DT year NN , , attributed VBD the DT profit NN slide NN partly RB to TO higher JJR start-up JJ expense NN . .
The DT company NN also RB cited VBD the DT stronger JJR dollar NN , , which WDT  cuts VBZ the DT value NN of IN overseas JJ profit NN when WRB it PRP is VBZ translated VBN  into IN dollars NNS  . .
In IN addition NN , , the DT company NN said VBD   , , it PRP was VBD hurt VBN  by IN higher JJR than IN previous-year JJ costs NNS for IN raw JJ materials NNS , , though IN those DT costs NNS have VBP declined VBN since IN the DT second JJ quarter NN . .
Incrementally RB higher JJR production NN of IN those DT chemicals NNS which WDT  remain VBP in IN heavy JJ demand NN also RB has VBZ forced VBN up IN costs NNS , , such JJ as IN overtime NN pay NN . .
For IN the DT nine CD months NNS , , Rohm NNP & CC Haas NNP net NN totaled VBD $ $ 155 CD million CD  , , or CC $ $ 2.33 CD  a DT share NN , , down IN 17 CD % NN from IN $ $ 187.8 CD million CD  , , or CC $ $ 2.82 CD  a DT share NN , , a DT year NN ago IN . .
Sales NNS rose VBD 5.2 CD % NN to TO $ $ 2.04 CD billion CD  from IN $ $ 1.94 CD billion CD  the DT previous JJ year NN . .
In IN New NNP York NNP Stock NNP Exchange NNP composite JJ trading NN , , Rohm NNP & CC Haas NNP closed VBD at IN $ $ 33 CD  a DT share NN , , down IN $ $ 1.75 CD  . .
Michael NNP A. NNP Gaskin NNP , , 55 CD years NNS old JJ , , was VBD named VBN  president NN  and CC chief NN executive JJ officer NN  of IN this DT manufacturer NN of IN industrial JJ robots NNS , ,  succeeding VBG Walter NNP K. NNP Weisel NNP . .
Mr. NNP Weisel NNP , , 49 CD , , resigned VBD as IN president NN and CC chief NN executive NN and CC will MD work VB on IN special JJ projects NNS , , said VBD   John NNP J. NNP Wallace NNP , , chairman NN . .
Mr. NNP Gaskin NNP formerly RB was VBD president NN  and CC chief NN executive NN  of IN Taylor NNP & CC Gaskin NNP Inc. NNP and CC was VBD a DT director NN of IN Prab NNP Robots NNP since IN 1985 CD . .
Stephen NNP N. NNP Wertheimer NNP was VBD named VBN  managing VBG director NN  and CC group NN head NN  of IN investment NN banking NN in IN Asia NNP , , based VBN  in IN Tokyo NNP . .
Mr. NNP Wertheimer NNP , , 38 CD years NNS old JJ , , had VBD been VBN a DT first JJ vice NN president NN in IN the DT industrial JJ group NN in IN investment NN banking NN . .
He PRP succeeds VBZ Everett NNP Meyers NNP , , who WP  resigned VBD in IN May NNP . .
This DT is VBZ written VBN   to TO correct VB a DT misquotation NN in IN your PRP$ Oct. NN 3 CD article NN `` `` Deaths NNP From IN Advanced NNP Colon NNP Cancer NNP Can MD Be VB Reduced NNP  by IN  Using VBG Two CD Drugs NNP . . '' ''
In IN this DT article NN , , I PRP was VBD alleged VBN  to TO have VB said VBN , ,  `` `` Any DT patient NN with IN high-risk JJ colon NN cancer NN is VBZ really RB getting VBG short JJ shrift NN if IN he PRP 's VBZ not RB getting VBG this DT therapy NN . . '' ''
I PRP did VBD n't RB say VB this DT , , and CC I PRP 'm VBP totally RB opposed VBN to TO the DT philosophy NN expressed VBN  by IN the DT quote NN . .
I PRP have VBP not RB offered VBN and CC will MD not RB offer VB routine JJ therapy NN with IN the DT two CD drugs NNS , , levamisole NN and CC 5-fluorouracil NN , , to TO any DT of IN my PRP$ colon-cancer NN patients NNS . .
With IN this DT treatment NN we PRP have VBP reduced VBN deaths NNS in IN high-risk JJ colon NN cancer NN by IN one-third NN -- : but CC this DT leaves VBZ the DT two-thirds NNS who WP  are VBP dying VBG of IN cancer NN . .
This DT is VBZ not RB nearly RB good JJ enough RB . .
I PRP believe VBP  any DT physician NN who WP  truly RB cares VBZ about IN cancer NN patients NNS , , both DT today NN and CC tomorrow NN , , should MD offer VB the DT hope NN of IN something NN better JJR than IN that DT . .
My PRP$ statement NN , , read VBD verbatim RB from IN a DT printed VBN text NN available JJ to TO all DT reporters NNS attending VBG the DT National NNP Cancer NNP Institute NNP news NN conference NN , , was VBD the DT following VBG : : `` `` New JJ clinical JJ trials NNS are VBP already RB in IN operation NN  seeking VBG  to TO improve VB these DT results NNS . .
These DT research NN protocols NNS offer VBP to TO the DT patient NN not RB only RB the DT very RB best JJS therapy NN which WDT we PRP have VBP established VBN  today NN but CC also RB the DT hope NN of IN something NN still RB better JJR . .
I PRP feel VBP  any DT patient NN with IN high-risk JJ cancer NN is VBZ getting VBG short JJ shrift NN if IN he PRP is VBZ not RB offered VBN this DT opportunity NN . . '' ''
We PRP have VBP very RB exciting JJ prospects NNS for IN far RB more RBR impressive JJ advances NNS in IN the DT treatment NN of IN colon NN cancer NN during IN the DT years NNS immediately RB ahead RB . .
This DT hope NN , , however RB , , will MD never RB be VB realized VBN  if IN we PRP use VBP levamisole NN and CC 5-fluorouracil NN as IN a DT stopping NN point NN . .
Charles NNP G. NNP Moertel NNP M.D NNP . . Mayo NNP Clinic NNP Rochester NNP , , Minn NNP . .
The DT oil NN and CC auto NN industries NNS , , united VBN  in IN their PRP$ dislike NN of IN President NNP Bush NNP 's POS proposal NN for IN cars NNS that WDT  run VBP on IN alternative JJ fuels NNS , , announced VBD a DT joint JJ research NN program NN that WDT  could MD turn VB up RP a DT cleaner-burning JJ gasoline NN . .
Officials NNS of IN the DT Big NNP Three CD auto NN makers NNS and CC 14 CD petroleum NN companies NNS said VBD  they PRP are VBP setting VBG out RP  to TO find VB the DT most RBS cost-effective JJ fuel NN for IN  reducing VBG cities NNS ' POS air-pollution NN problems NNS , , with IN no DT bias NN toward IN any DT fuel NN in IN particular NN . .
However RB , , their PRP$ search NN notably RB wo MD n't RB include VB natural JJ gas NN or CC pure JJ methanol NN -- : the DT two CD front-running JJ alternative JJ fuels NNS -- : in IN tests NNS   to TO be VB completed VBN  by IN next JJ summer NN . .
Instead RB , , the DT tests NNS will MD focus VB heavily RB on IN new JJ blends NNS of IN gasoline NN , , which WDT  are VBP still RB undeveloped JJ but CC which WDT the DT petroleum NN industry NN has VBZ been VBN touting VBG  as IN a DT solution NN for IN automobile NN pollution NN that WDT  is VBZ choking VBG urban JJ areas NNS . .
Environmentalists NNS criticized VBD the DT program NN as IN merely RB a DT public-relations NNS attempt NN  to TO head VB off RP a DT White NNP House NNP proposal NN  to TO require VB a DT million CD cars NNS a DT year NN that WDT  run VBD on IN cleaner-burning JJ fuels NNS by IN 1997 CD . .
While IN major JJ oil NN companies NNS have VBP been VBN experimenting VBG with IN cleaner-burning JJ gasoline NN blends NNS for IN years NNS , , only RB Atlantic NNP Richfield NNP Co. NNP is VBZ now RB marketing VBG a DT lower-emission NN gasoline NN for IN older JJR cars NNS currently RB running VBG on IN leaded JJ fuel NN . .
The DT initial JJ $ $ 11 CD million CD  research NN program NN will MD conduct VB the DT most RBS extensive JJ  testing NN to TO date NN of IN reformulated VBN gasolines NNS , , said VBD   Joe NNP Colucci NNP , , head NN of IN fuels NNS and CC lubricants NNS at IN General NNP Motors NNPS Corp. NNP research NN laboratories NNS . .
It PRP will MD compare VB 21 CD different JJ blends NNS of IN gasolines NNS with IN three CD mixtures NNS of IN up IN to TO 85 CD % NN methanol NN . .
A DT second JJ phase NN of IN research NN , , which WDT  is VBZ still RB being VBG planned VBN  , , will MD test VB reformulated VBN gasolines NNS on IN newer JJR engine NN technologies NNS now RB being VBG developed VBN for IN use NN in IN 1992 CD or CC 1993 CD cars NNS . .
There EX was VBD no DT cost NN estimate NN for IN the DT second JJ phase NN . .
`` `` The DT whole JJ idea NN here RB is VBZ  the DT automobile NN and CC oil NN companies NNS have VBP joint JJ customers NNS , , '' '' said VBD  Keith NNP McHenry NNP , , a DT senior JJ vice NN president NN of IN technology NN at IN Amoco NNP Corp NNP . .
`` `` And CC we PRP are VBP looking VBG for IN the DT most RBS cost-effective JJ way NN   to TO clean VB up RP the DT air NN  . . '' ''
But CC David NNP Hawkins NNP , , an DT environmental JJ lawyer NN with IN the DT Natural NNP Resources NNPS Defense NNP Council NNP , , said VBD  the DT research NN appears VBZ merely RB  to TO be VB a DT way NN   to TO promote VB reformulated VBN gasoline NN  . .
Oil NN and CC auto NN companies NNS supported VBD a DT move NN  on IN Capitol NNP Hill NNP last JJ week NN  to TO gut VB Mr. NNP Bush NNP 's POS plans NNS  to TO require VB auto NN makers NNS to TO begin VB  selling VBG alternative-fueled JJ cars NNS by IN 1995 CD . .
Instead RB , , a DT House NNP subcommittee NN adopted VBD a DT clean-fuels NNS program NN that WDT  specifically RB mentions VBZ reformulated VBN gasoline NN as IN an DT alternative NN . .
The DT Bush NNP administration NN has VBZ said VBN  it PRP will MD try VB  to TO resurrect VB its PRP$ plan NN  when WRB the DT House NNP Energy NNP and CC Commerce NNP Committee NNP takes VBZ up RP a DT comprehensive JJ clean-air JJ bill NN . .
William NNP Seidman NNP , , chairman NN of IN the DT Federal NNP Deposit NNP Insurance NNP Corp. NNP , , said VBD  Lincoln NNP Savings NNP & CC Loan NNP Association NNP should MD have VB been VBN seized VBN  by IN the DT government NN in IN 1986 CD  to TO contain VB losses NNS that IN he PRP estimated VBD   will MD cost VB taxpayers NNS as RB much RB as IN $ $ 2 CD billion CD  . .
Mr. NNP Seidman NNP , , who WP  has VBZ been VBN the DT nation NN 's POS top JJ bank NN regulator NN , , inherited VBD the DT problems NNS of IN Lincoln NNP , , based VBN  in IN Irvine NNP , , Calif. NNP , , after IN his PRP$ regulatory JJ role NN was VBD expanded VBN  by IN the DT new JJ savings-and-loan JJ bailout NN law NN . .
He PRP made VBD his PRP$ comments NNS before IN House NNP Banking NNP Committee NNP hearings NNS  to TO investigate VB what WP  appears VBZ  to TO be VB the DT biggest JJS thrift NN disaster NN in IN a DT scandal-ridden JJ industry NN . .
The DT inquiry NN also RB will MD cover VB the DT actions NNS of IN Charles NNP Keating NNP Jr. NNP , , who WP  is VBZ chairman NN of IN American NNP Continental NNP Corp. NNP , , Lincoln NNP 's POS parent NN , , and CC who WP  contributed VBD heavily RB to TO several JJ U.S. NNP senators NNS . .
Mr. NNP Seidman NNP told VBD the DT committee NN that IN the DT Resolution NNP Trust NNP Corp. NNP , , the DT agency NN created VBD  to TO sell VB sick JJ thrifts NNS , , has VBZ studied VBN Lincoln NN 's POS examination NN reports NNS by IN former JJ regulators NNS dating VBG back RB to TO 1986 CD . .
`` `` My PRP$ staff NN indicated VBD that IN had VBD we PRP made VBN such JJ findings NNS in IN one CD of IN our PRP$ own JJ institutions NNS , , we PRP would MD have VB sought VBN an DT immediate JJ cease-and-desist JJ order NN  to TO stop VB the DT hazardous JJ operations NNS , , '' '' Mr. NNP Seidman NNP said VBD  . .
When WRB Lincoln NNP was VBD seized VBN  by IN the DT government NN  , , for IN example NN , , 15 CD % NN of IN its PRP$ loans NNS , , or CC $ $ 250 CD million CD  , , were VBD to TO borrowers NNS who WP  were VBD buying VBG real JJ estate NN from IN one CD of IN American NNP Continental NNP 's POS 50 CD other JJ subsidiaries NNS , , according VBG to TO Mr. NNP Seidman NNP . .
But CC the DT government NN did VBD n't RB step VB in RB until IN six CD months NNS ago IN , , when WRB thrift NN officials NNS put VBD Lincoln NNP into IN conservatorship NN  -- : the DT day NN after IN American NNP Continental NNP filed VBD for IN Chapter NN 11 CD bankruptcy NN protection NN from IN creditors NNS . .
The DT bankruptcy NN filing NN , , the DT government NN has VBZ charged VBN   in IN a DT $ $ 1.1 CD billion CD  civil JJ lawsuit NN , , was VBD part NN of IN a DT pattern NN  to TO shift VB insured VBN deposits NNS to TO the DT parent NN company NN , , which WDT  used VBD the DT deposits NNS as IN a DT cache NN for IN real-estate NN deals NNS . .
The DT deposits NNS that WDT  have VBP been VBN transferred VBN  to TO other JJ subsidiaries NNS are VBP now RB under IN the DT jurisdiction NN of IN the DT bankruptcy NN court NN . .
`` `` I PRP think VBP  it PRP  's VBZ fairly RB clear JJ  -LCB- -LRB- Mr. NNP Keating NNP -RCB- -RRB- knew VBD , , '' '' that IN regulators NNS were VBD set VBN  to TO seize VB Lincoln NNP , , Mr. NNP Seidman NNP said VBD   . .
Further JJ investigation NN , , he PRP said VBD   , , may MD result VB in IN further JJ actions NNS against IN Lincoln NNP 's POS executives NNS , , said VBD   Mr. NNP Seidman NNP , , `` `` including VBG fraud NN actions NNS . . '' ''
Mr. NNP Keating NNP , , for IN his PRP$ part NN , , has VBZ filed VBN suit NN  alleging VBG that IN regulators NNS unlawfully RB seized VBD the DT thrift NN . .
Leonard NNP Bickwit NNP , , an DT attorney NN in IN Washington NNP for IN Mr. NNP Keating NNP , , declined VBD  to TO comment VB on IN the DT hearings NNS , , except IN  to TO say VB  , , `` `` We PRP will MD be VB responding VBG comprehensively RB in IN several JJ forums NNS to TO each DT of IN these DT allegations NNS at IN the DT appropriate JJ time NN . . '' ''
Lincoln NNP 's POS treatment NN by IN former JJ thrift NN regulators NNS , , in IN an DT agency NN disbanded VBN  by IN the DT new JJ law NN , , has VBZ proved VBN embarrassing VBG for IN five CD senators NNS who WP  received VBD thousands NNS of IN dollars NNS in IN campaign NN contributions NNS from IN Mr. NNP Keating NNP . .
Mr. NNP Seidman NNP said VBD yesterday NN , , for IN example NN , , that IN Sen. NNP Dennis NNP DeConcini NNP -LRB- -LRB- D. NNP , , Ariz. NNP -RRB- -RRB- , , who WP  received VBD $ $ 48,100 CD  in IN contributions NNS from IN Mr. NNP Keating NNP , , phoned VBD Mr. NNP Seidman NNP  to TO request VB that IN he PRP push VB for IN a DT sale NN of IN Lincoln NNP before IN it PRP would MD be VB seized VBN  . .
After IN the DT government NN lawsuit NN was VBD filed VBN  against IN Lincoln NNP , , Sen. NNP DeConcini NNP returned VBD the DT campaign NN contributions NNS . .
The DT senator NN 's POS spokesman NN said VBD yesterday NN that IN he PRP pushed VBD for IN the DT sale NN of IN Lincoln NNP because IN `` `` hundreds NNS of IN Arizona NNP jobs NNS -LCB- -LRB- at IN Lincoln NNP -RCB- -RRB- were VBD on IN the DT line NN . . '' ''
Senate NNP Banking NNP Committee NNP Chairman NNP Donald NNP Riegle NNP -LRB- -LRB- D. NNP , , Mich NNP . . -RRB- -RRB- has VBZ also RB returned VBN contributions NNS  he PRP received VBD  from IN Mr. NNP Keating NNP a DT year NN ago IN . .
Sens. NNP John NNP Glenn NNP -LRB- -LRB- D. NNP , , Ohio NNP -RRB- -RRB- , , John NNP McCain NNP , , -LRB- -LRB- R. NNP , , Ariz. NNP -RRB- -RRB- and CC Alan NNP Cranston NNP -LRB- -LRB- D. NNP , , Calif. NNP -RRB- -RRB- also RB received VBD substantial JJ contributions NNS from IN Mr. NNP Keating NNP and CC sought VBD  to TO intervene VB on IN behalf NN of IN Lincoln NNP . .
House NNP Banking NNP Committee NNP Chairman NNP Henry NNP Gonzalez NNP -LRB- -LRB- D. NNP , , Texas NNP -RRB- -RRB- said VBD  Sen. NNP Cranston NNP volunteered VBD  to TO appear VB before IN the DT House NNP committee NN , , if IN necessary JJ . .
But CC a DT committee NN staff NN member NN said VBD  the DT panel NN is VBZ unlikely JJ  to TO pursue VB closely RB the DT role NN of IN the DT senators NNS . .
At IN the DT hearing NN , , Mr. NNP Seidman NNP said VBD  the DT RTC NNP has VBZ already RB pumped VBN $ $ 729 CD million CD  into IN Lincoln NNP for IN liquidity NN . .
He PRP also RB held VBD out RP little JJ hope NN of IN restitution NN for IN purchasers NNS of IN $ $ 225 CD million CD  in IN American NNP Continental NNP subordinated VBD debt NN . .
Some DT of IN those DT debtholders NNS have VBP filed VBN a DT suit NN , ,  saying VBG  they PRP believed VBD  they PRP were VBD buying VBG government-insured JJ certificates NNS of IN deposit NN . .
`` `` We PRP have VBP no DT plans NNS  at IN this DT time NN  to TO pay VB off RP those DT notes NNS , , '' '' he PRP said VBD  . .
Eastern NNP Airlines NNP ' POS creditors NNS committee NN , , unhappy JJ with IN the DT carrier NN 's POS plans NNS for IN  emerging VBG from IN bankruptcy-law NN proceedings NNS , , asked VBD its PRP$ own JJ experts NNS  to TO devise VB alternate JJ approaches NNS to TO a DT reorganization NN . .
Representatives NNS of IN the DT accounting VBG firm NN of IN Ernst NNP & CC Young NNP and CC the DT securities NNS firm NN of IN Goldman NNP , , Sachs NNP & CC Co. NNP , , hired VBN  by IN creditors NNS  to TO consult VB on IN Eastern NNP 's POS financial JJ plans NNS , , told VBD the DT committee NN in IN a DT private JJ meeting NN yesterday NN that IN Eastern NNP 's POS latest JJS plan NN  to TO emerge VB from IN bankruptcy-law NN protection NN is VBZ far RB riskier JJR than IN an DT earlier JJR one CD which WDT  won VBD the DT creditors NNS ' POS approval NN . .
According VBG to TO one CD person NN present JJ at IN the DT meeting NN , , Eastern NNP 's POS new JJ plan NN is VBZ financially RB `` `` overly RB optimistic JJ . . '' ''
 Asked VBN about IN the DT consultants NNS ' POS reports NNS , , an DT Eastern NNP spokeswoman NN said VBD  `` `` we PRP totally RB disagree VBP . . '' ''
She PRP said VBD  they PRP have VBP `` `` oversimplified VBN and CC made VBN some DT erroneous JJ assumptions NNS that WDT  make VBP their PRP$ analysis NN completely RB off-base JJ . . '' ''
At IN a DT later JJ news NN conference NN here RB , , Frank NNP Lorenzo NNP , , chairman NN of IN Eastern NNP 's POS parent NN Texas NNP Air NNP Corp. NNP , , said VBD  Eastern NNP was VBD exceeding VBG its PRP$ goals NNS for IN  getting VBG back NN into IN operation NN and CC predicted VBD  it PRP would MD emerge VB from IN Chapter NN 11 CD protection NN from IN creditors NNS early RB next IN year NN , ,  operating VBG with IN more JJR service NN than IN it PRP originally RB had VBD scheduled VBN . .
He PRP insisted VBD , , as IN he PRP has VBZ  before IN , , that IN creditors NNS would MD be VB paid VBN  in IN full JJ under IN the DT plan NN . .
Mr. NNP Lorenzo NNP made VBD no DT mention NN of IN creditors NNS ' POS negative JJ response NN to TO his PRP$ plan NN . .
`` `` We PRP 're VBP in IN the DT process NN of IN  discussing VBG an DT amended VBN plan NN with IN the DT creditors NNS and CC anticipate VBP  filing VBG that IN amended VBN plan NN shortly RB , , '' '' Mr. NNP Lorenzo NNP told VBD reporters NNS  . .
`` `` We PRP 're VBP meeting VBG and CC surpassing VBG our PRP$ goals NNS , , '' '' he PRP added VBD  . .
In IN July NNP , , Eastern NNP and CC its PRP$ creditors NNS agreed VBD on IN a DT reorganization NN plan NN that WDT  called VBD for IN Eastern NNP to TO sell VB $ $ 1.8 CD billion CD  in IN assets NNS and CC to TO emerge VB from IN bankruptcy-law NN protection NN at IN two-thirds NNS its PRP$ former JJ size NN . .
But CC after IN  selling VBG off RP pieces NNS such JJ as IN its PRP$ East NNP Coast NNP shuttle NN , , its PRP$ Philadelphia NNP hub NN and CC various JJ planes NNS , , Eastern NNP hit VBD a DT stumbling VBG block NN . .
It PRP could MD n't RB sell VB its PRP$ South NNP American NNP routes NNS , , one CD of IN the DT major JJ assets NNS marked VBN  for IN disposal NN . .
Those DT routes NNS , , valued VBN  by IN the DT creditors NNS ' POS professionals NNS at IN about IN $ $ 400 CD million CD  , , were VBD  to TO be VB sold VBN  to TO AMR NNP Corp. NNP 's POS American NNP Airlines NNPS . .
A DT last-minute JJ snag NN in IN negotiations NNS with IN AMR NNP , , over IN an DT unrelated JJ lawsuit NN between IN American NNP and CC another DT Texas NNP Air NNP unit NN , , caused VBD the DT deal NN to TO collapse VB . .
Eastern NNP ultimately RB decided VBD  it PRP would MD have VB  to TO keep VB and CC operate VB the DT routes NNS itself PRP , , which WDT  would MD leave VB it PRP with IN less JJR cash NN for IN its PRP$ reorganization NN . .
It PRP also RB would MD leave VB Eastern NNP a DT bigger JJR carrier NN than IN the DT scaled-down JJ one CD proposed VBN  under IN the DT initial JJ plan NN . .
Those DT changes NNS in IN its PRP$ condition NN meant VBD  the DT reorganization NN plan NN previously RB presented VBN  to TO creditors NNS would MD have VB  to TO be VB revamped VBN  . .
Since IN then RB , , Eastern NNP has VBZ been VBN negotiating VBG with IN creditors NNS over IN revisions NNS , , but CC the DT creditors NNS committee NN has VBZ been VBN having VBG problems NNS with IN the DT revisions NNS . .
The DT committee NN has VBZ two CD groups NNS of IN experts NNS  it PRP calls VBZ on IN   to TO analyze VB Eastern NNP 's POS plans NNS . .
Both DT said VBD  the DT new JJ plan NN would MD n't RB work VB . .
Ernst NNP & CC Young NNP said VBD  Eastern NNP 's POS plans NNS will MD miss VB its PRP$ projections NNS of IN earnings NNS before IN interest NN , , tax NN and CC depreciation NN by IN $ $ 100 CD million CD  , , and CC that IN Eastern NNP 's POS plan NN presented VBD no DT comfort NN level NN , , according VBG to TO a DT source NN present NN at IN yesterday NN 's POS session NN . .
Experts NNS from IN Goldman NNP Sachs NNP estimated VBD  Eastern NNP would MD miss VB the DT same JJ mark NN by IN $ $ 120 CD million CD to TO $ $ 135 CD million CD  , , the DT source NN said VBD  . .
The DT experts NNS said VBD  they PRP expected VBD  Eastern NNP would MD have VB  to TO issue VB new JJ debt NN  to TO cover VB its PRP$ costs NNS , , and CC that IN it PRP would MD generate VB far RB less JJR cash NN than IN   anticipated VBN  . .
Other JJ costs NNS  also RB would MD increase VB , , including VBG maintenance NN , , because IN Eastern NNP has VBZ an DT older JJR fleet NN . .
At IN the DT news NN conference NN , , Mr. NNP Lorenzo NNP and CC Eastern NNP President NNP Phil NNP Bakes NNP presented VBD a DT far JJ rosier JJR assessment NN . .
 Flanked VBN by IN flight NN attendants NNS , , pilots NNS and CC gate NN agents NNS dressed VBN  in IN spiffy JJ new JJ blue JJ uniforms NNS , , they PRP said VBD  Eastern NNP has VBZ exceeded VBN its PRP$ operational JJ goals NNS and CC is VBZ filling VBG its PRP$ seats NNS . .
 Starting VBG next JJ month NN , , Eastern NNP will MD begin VB  flying VBG 775 CD flights NNS daily RB instead RB of IN the DT previously RB announced VBN 700 CD , , they PRP said VBD   . .
Mr. NNP Bakes NNP declined VBD  to TO give VB out IN Eastern NNP 's POS daily JJ losses NNS , , but CC said VBD  he PRP did VBD n't RB expect VB  Eastern NNP would MD have VB  to TO dip VB into IN the DT cash NN from IN asset NN sales NNS currently RB held VBN  in IN escrow NN . .
These DT accounts NNS hold VBP several JJ hundred CD million CD dollars NNS , , primarily RB from IN asset NN sales NNS . .
The DT plan NN  Eastern NNP hopes VBZ  to TO pursue VB  , , he PRP said VBD   , , calls NNS for IN Eastern NNP to TO have VB $ $ 390 CD million CD  in IN cash NN by IN year NN 's POS end NN . .
Both DT he PRP and CC Mr. NNP Lorenzo NNP predicted VBD  that DT plan NN might MD be VB confirmed VBN  in IN January NNP . .
As IN to TO negotiations NNS with IN creditors NNS , , Mr. NNP Lorenzo NNP said VBD in IN remarks NNS after IN the DT conference NN `` ``  we PRP 'll MD have VB  to TO see VB how WRB they PRP -LCB- -LRB- talks NNS -RCB- -RRB- come VBP along RP  . . '' ''
However RB , , he PRP added VBD , , `` `` it PRP  's VBZ not RB a DT requirement NN that IN the DT plan NN be VB accepted VBN  by IN creditors NNS . .
It PRP must MD be VB accepted VBN  by IN the DT court NN . . '' ''
Under IN bankruptcy NN law NN , , Eastern NNP has VBZ exclusive JJ rights NNS  for IN a DT certain JJ period NN  to TO develop VB its PRP$ own JJ reorganization NN plan NN . .
That DT deadline NN has VBZ been VBN extended VBN once RB and CC could MD be VB extended VBN again RB . .
If IN Eastern NNP can MD get VB creditor NN support NN , , court NN confirmation NN of IN its PRP$ plan NN could MD be VB relatively RB swift JJ . .
But CC creditors NNS are VBP free JJ  to TO press VB for IN court NN approval NN of IN their PRP$ own JJ plan NN , , or CC the DT court NN could MD ignore VB both DT sides NNS and CC draw VB its PRP$ own JJ . .
In IN any DT event NN , , some DT people NNS familiar JJ with IN the DT case NN question NN whether IN the DT court NN will MD act VB by IN January NNP as IN  forecast VBN  by IN Mr. NNP Lorenzo NNP and CC Mr. NNP Bakes NNP . .
Eastern NNP sought VBD bankruptcy-law NN protection NN a DT few JJ days NNS after IN a DT crippling JJ strike NN began VBD March NNP 4 CD . .
Mr. NNP Lorenzo NNP told VBD reporters NNS  the DT reorganization NN  Eastern NNP is VBZ pursuing VBG  would MD create VB a DT carrier NN 85 CD % NN to TO 90 CD % NN  of IN the DT size NN of IN the DT pre-bankruptcy NN Eastern NNP . .
He PRP projected VBD  it PRP would MD be VB operating VBG about IN 1,000 CD flights NNS a DT day NN by IN late JJ spring NN , , only RB slightly RB fewer JJR than IN the DT carrier NN 's POS old JJ volume NN of IN 1,050 CD a DT day NN . .
HOPES NNS OF IN  SIMPLIFYING VBG the DT corporate JJ minimum JJ tax NN before IN 1990 CD are VBP weakening VBG . .
The DT method NN of IN  calculating VBG the DT 20 CD % NN tax NN , , paid VBN  if IN it PRP exceeds VBZ tax NN figured VBN  the DT regular JJ way NN , , is VBZ due JJ for IN a DT change NN in IN 1990 CD , , thanks NNS to TO 1986 CD 's POS tax NN act NN . .
But CC most JJS experts NNS agree VBP that IN the DT concept NN that WDT  is VBZ  to TO be VB introduced VBN  drags VBZ in RB great JJ complexity NN ; : they PRP have VBP been VBN trying VBG  to TO head VB it PRP off RP this DT year NN . .
Ways NNS and CC Means NNS Chairman NNP Rostenkowski NNP backed VBD a DT simplification NN plan NN in IN the DT pending VBG House NN tax NN bill NN , , but CC the DT plan NN turns VBZ out RP  to TO be VB a DT big JJ revenue NN loser NN . .
Now RB the DT Senate NNP 's POS stripped-down JJ bill NN omits VBZ any DT proposal NN  to TO deal VB with IN the DT corporate JJ tax NN . .
Proponents NNS of IN simplification NN fear NN that IN the DT chances NNS of IN  getting VBG it PRP into IN the DT final JJ bill NN are VBP waning VBG . .
`` `` We PRP hear VBP  it PRP has VBZ low JJ priority NN on IN the DT House NN side NN , , '' '' says VBZ  Samuel NNP Starr NNP of IN Coopers NNP & CC Lybrand NNP , , CPAs NNPS . .
If IN the DT law NN is VBZ n't RB changed VBN  , , he PRP says VBZ   , , `` `` we PRP are VBP left VBN  staring VBG at IN rules NNS that WDT  are VBP almost RB impossible JJ   to TO implement VB  , , because IN there EX are VBP so RB many JJ complex JJ depreciation NN calculations NNS   to TO do VB  . . '' ''
But CC Congress NNP still RB could MD resolve VB the DT issue NN with IN other JJ legislation NN this DT year NN or CC next JJ , , Starr NNP adds VBZ   . .
HUGO NNP 'S POS RAVAGES NNS may MD be VB offset VBN  by IN immediate JJ claims NNS for IN tax NN refunds NNS . .
This DT law NN aids VBZ hurricane-wracked JJ locales NNS named VBN  by IN the DT president NN as IN disaster NN areas NNS , , as RB well RB as IN regions NNS so RB designated VBN after IN other JJ 1989 CD disasters NNS . .
It PRP lets VBZ victims NNS elect VB  to TO deduct VB casualty NN losses NNS on IN either DT 1989 CD or CC amended VBD 1988 CD returns NNS , , whichever WDT  offers VBZ the DT larger JJR tax NN benefit NN ; : they PRP have VBP until IN April NNP 16 CD  to TO choose VB . .
 Amending VBG a DT 1988 CD return NN to TO claim VB a DT refund NN brings VBZ cash NN faster RBR ; : but CC for IN personal JJ losses NNS , , there EX are VBP other JJ factors NNS   to TO consider VB  , , notes VBZ   publisher NN Prentice NNP Hall NNP . .
A DT loss NN -- : after IN insurance NN recoveries NNS -- : is VBZ deductible JJ only RB to TO the DT extent NN that IN it PRP exceeds VBZ $ $ 100 CD  and CC that IN the DT year NN 's POS total JJ losses NNS exceed VBP 10 CD % NN of IN adjusted VBN gross JJ income NN ; : victims NNS may MD pick VB the DT year NN when WRB income NN is VBZ lower JJR and CC deductions NNS higher JJR  . .
In IN  filing VBG an DT original JJ -LRB- -LRB- not RB amended VBN -RRB- -RRB- return NN , , a DT couple NN should MD consider VB whether IN damaged VBN property NN is VBZ owned VBN  jointly RB or CC separately RB and CC whether IN one CD spouse NN has VBZ larger JJR income NN ; : that WDT may MD determine VB whether IN they PRP should MD file VB jointly RB or CC separately RB . .
THE DT IRS NNP DELAYS VBZ several JJ deadlines NNS for IN Hugo NNP 's POS victims NNS . .
Returns NNS for IN 1988 CD from IN people NNS with IN six-month JJ filing NN extensions NNS were VBD due JJ Monday NNP , , but CC the DT IRS NNP says VBZ  people NNS in IN the DT disaster NN areas NNS wo MD n't RB be VB penalized VBN  for IN late JJ filing NN if IN their PRP$ returns NNS are VBP marked VBN  `` `` Hugo NNP '' '' and CC postmarked VBN by IN Jan. NNP 16 CD . .
Interest NN will MD be VB imposed VBN  on IN unpaid JJ taxes NNS , , but CC late-payment NN penalties NNS on IN the DT returns NNS will MD be VB waived VBN  if IN the DT balance NN due JJ and CC paid VBN is VBZ 10 CD % NN or CC less JJR of IN the DT liability NN . .
IRS NNP Notice NN 89-136 CD describes VBZ this DT and CC other JJ deadline NN relief NN for IN Hugo NNP 's POS victims NNS . .
Among IN the DT provisions NNS : : Fiscal-year JJ taxpayers NNS with IN returns NNS due JJ last JJ Monday NNP wo MD n't RB be VB penalized VBN  if IN they PRP file VBP -- : or CC request VBP an DT extension NN -- : and CC pay VBP tax NN due JJ by IN Nov. NNP 15 CD . .
Excise-tax JJ returns NNS due JJ by IN Oct. NNP 31 CD or CC Nov. NNP 30 CD may MD be VB delayed VBN  to TO Jan. NNP 16 CD . .
Extensions NNS ca MD n't RB be VB granted VBN  for IN  filing VBG employment-tax JJ returns NNS due JJ Oct. NNP 31 CD or CC for IN  depositing VBG withheld VBN taxes NNS , , but CC late JJ penalties NNS will MD be VB abated VBN  for IN deposits NNS made VBN  by IN Nov. NNP 15 CD . .
The DT notice NN also RB grants VBZ relief NN for IN certain JJ estate-tax JJ returns NNS . .
ONE-DAY JJ JAUNTS NNS in IN a DT chartered JJ boat NN were VBD perks NNS for IN permanent JJ staffers NNS of IN American NNP Business NNP Service NNP Corp. NNP , , a DT Costa NNP Mesa NNP , , Calif. NNP , , supplier NN of IN temporary JJ workers NNS . .
The DT IRS NNP denied VBD cost NN deductions NNS because IN few JJ of IN the DT temps NNS got VBD  to TO go VB aboard IN . .
But CC the DT Tax NNP Court NNP said VBD  the DT limitations NNS were VBD reasonable JJ and CC realistic JJ and CC allowed VBD the DT deductions NNS . .
USED-CAR NN BUYERS NNS who WP  try VBP  to TO avoid VB sales JJ tax NN by IN  understating VBG prices NNS paid VBN  in IN private JJ deals NNS are VBP the DT targets NNS of IN a DT New NNP York NNP drive NN . .
 Estimating VBG that IN the DT state NN may MD lose VB $ $ 15 CD million CD  a DT year NN , , officials NNS announced VBD the DT filing NN of IN 15 CD criminal JJ actions NNS and CC `` `` hundreds NNS '' '' of IN civil JJ penalties NNS . .
WHEN WRB AN DT IRA NNP OWNER NNP dies VBZ  , , the DT trustee NN of IN the DT individual JJ retirement NN account NN must MD file VB forms NNS 5498 CD reporting VBG market NN values NNS relating VBG to TO the DT decedent NN and CC each DT beneficiary NN , , with IN copies NNS to TO the DT executor NN and CC beneficiaries NNS . .
IRS NNP Revenue NNP Procedure NNP 89-52 CD describes VBZ the DT reporting VBG requirements NNS . .
BIGGER JJR THAN IN A DT BREADBOX NN was VBD  this DT cash NN hoarder NN 's POS reputation NN for IN honesty NN . .
People NNS often RB cite VBP frugality NN and CC distrust NN of IN banks NNS  to TO justify VB cash NN caches NNS to TO the DT IRS NNP . .
Gregory NNP Damonne NNP Brown NNP of IN Fremont NNP , , Calif. NNP , , a DT hardworking JJ , , reclusive JJ young JJ bachelor NN , , told VBD that DT story NN to TO the DT Tax NNP Court NNP . .
But CC judges NNS usually RB find VBP  the DT real JJ aim NN is VBZ  to TO escape VB tax NN on IN hidden JJ income NN ; : and CC the DT IRS NNP said VBD  Brown NNP must MD have VB had VBN such JJ income NN -- : although IN it PRP uncovered VBD no DT source NN -- : because IN he PRP deposited VBD $ $ 124,732 CD  in IN a DT bank NN account NN in IN 1982-84 CD while IN  reporting VBG income NN of IN only JJ $ $ 52,012 CD  . .
Brown NNP 's POS story NN : :
The DT deposits NNS came VBD from IN savings NNS kept VBN  in IN a DT Tupperware NNP breadbox NN ; : he PRP saved VBD $ $ 47,000 CD  in IN 1974-81 CD by IN  living VBG with IN family NN members NNS and CC pinching VBG pennies NNS and CC $ $ 45,000 CD  of IN secret JJ gifts NNS from IN his PRP$ remorseful JJ father NN , , who WP  had VBD abandoned VBN the DT family NN in IN 1955 CD . .
Brown NNP had VBD no DT proof NN ; : but CC testimony NN of IN his PRP$ mother NN and CC stepmother NN about IN his PRP$ father NN and CC of IN an DT ex-employer NN about IN his PRP$ honesty NN and CC habits NNS satisfied VBD a DT judge NN that IN Brown NNP was VBD truthful JJ and CC his PRP$ tale NN of IN gifts NNS was VBD possible JJ . .
The DT IRS NNP offered VBD no DT evidence NN of IN hidden VBN sources NNS of IN taxable JJ income NN , , so IN Judge NNP Shields NNP rejected VBD its PRP$ claims NNS . .
BRIEFS NNS : :
 Asked VBD how WRB he PRP made VBD charitable JJ gifts NNS of IN $ $ 26,350 CD  out IN of IN reported VBN two-year JJ income NN of IN $ $ 46,892 CD   , , Thomas NNP H. NNP McFall NNP of IN Bryan NNP , , Texas NNP , , told VBD the DT Tax NNP Court NNP  he PRP had VBD understated VBN his PRP$ income NN . .
The DT court NN rejected VBD his PRP$ incredible JJ claims NNS , , denied VBD his PRP$ deductions NNS , , and CC imposed VBD a DT negligence NN penalty NN ... : . .
Rep. NNP Schaefer NNP -LRB- -LRB- R. NNP , , Colo. NNP -RRB- -RRB- entered VBD a DT bill NN   to TO exempt VB from IN tax NN rewards NNS for IN tips NNS leading VBG to TO the DT arrest NN of IN violent JJ criminals NNS . .
Kay NNP Peterson NNP mounts VBZ her PRP$ bicycle NN and CC grinds VBZ up RP yet RB another DT steep NN , , rocky JJ path NN seemingly RB suitable JJ only RB for IN mountain NN goats NNS . .
After IN a DT tortuous JJ climb NN , , she PRP is VBZ rewarded VBN  by IN a DT picture-postcard NN vista NN : : a DT glade NN of IN golden JJ aspens NNS under IN an DT azure JJ Indian-summer JJ sky NN . .
This DT place NN is VBZ 12 CD miles NNS into IN the DT back NN country NN -- : a DT day-long JJ trudge NN for IN a DT hiker NN , , but CC reached VBN by IN Ms. NNP Peterson NNP and CC six CD others NNS in IN a DT mere JJ two CD hours NNS of IN  pedaling VBG fat-tired JJ mountain NN bikes NNS . .
`` `` This DT , , '' '' says VBZ  Ms. NNP Peterson NNP , , `` `` is VBZ what WP it PRP 's VBZ all DT about IN  . . '' ''
Twelve CD hundred CD miles NNS away RB , , rangers NNS at IN a DT Napa NNP County NNP , , Calif. NNP , , state NN park NN are VBP among IN the DT many JJ who WP  do VBP n't RB quite RB share VB the DT enthusiasm NN . .
This DT summer NN , , speeding VBG bikers NNS were VBD blamed VBN  for IN an DT accident NN in IN the DT Napa NNP County NNP park NN , , in IN which WDT a DT horse NN -- : spooked VBN  on IN a DT trail NN that WDT  was VBD closed VBN  to TO bikers NNS -- : broke VBD its PRP$ leg NN . .
The DT animal NN had VBD  to TO be VB destroyed VBN  ; : the DT bikers NNS fled VBD and CC were VBD never RB found VBN . .
In IN numerous JJ parks NNS near IN San NNP Francisco NNP , , rangers NNS have VBP been VBN forced VBN  to TO close VB trails NNS  , , set VB up RP speed NN traps NNS  and CC use VB radar NN guns NNS   to TO curb VB fast JJ and CC reckless JJ riding NN . .
They PRP have VBP even RB sent VBN helicopters NNS in IN pursuit NN of IN bikers NNS after IN hikers NNS and CC equestrians NNS complained VBD  they PRP were VBD being VBG driven VBN  from IN trails NNS . .
`` `` We PRP were VBD being VBG overrun NN , , '' '' says VBZ  Steve NNP Fiala NNP , , trails NNS coordinator NN of IN the DT East NNP Bay NNP Regional NNP Park NNP District NNP . .
Two CD years NNS ago IN , , the DT district NN decided VBD  to TO limit VB the DT bikes NNS to TO fire NN roads NNS in IN its PRP$ 65,000 CD hilly JJ acres NNS . .
From IN about IN 200,000 CD six CD years NNS ago IN , , the DT number NN of IN mountain NN bikes NNS in IN the DT U.S. NNP is VBZ expected VBN  to TO grow VB to TO 10 CD million CD in IN 1990 CD  . .
At IN least JJS half PDT that DT growth NN will MD have VB come VBN in IN the DT past JJ three CD years NNS alone RB . .
The DT controversy NN kicked VBD up RP by IN the DT proliferation NN of IN these DT all-terrain JJ bicycles NNS is VBZ one CD of IN the DT most RBS divisive JJ storms NNS   to TO blow VB through IN the DT national JJ conservation NN movement NN in IN recent JJ memory NN . .
Bikers NNS -- : many JJ of IN them PRP ardent JJ environmentalists NNS -- : proclaim VBP their PRP$ sport NN an DT efficient JJ , , safe JJ , , fitness-promoting JJ way NN   to TO get VB back RB to TO nature NN  , , while IN  asserting VBG a DT right NN  , , as IN taxpayers NNS , ,  to TO pedal VB on IN public JJ lands NNS . .
But CC the DT bikes NNS ' POS burgeoning VBG numbers NNS , , safety NN concerns NNS and CC fear NN that IN they PRP damage VBP fragile JJ landscapes NNS have VBP prompted VBN pleas NNS  , , from IN the DT Sierras NNPS to TO the DT Eastern NNP Seaboard NNP , ,  to TO ban VB them PRP from IN the DT back NN country NN . .
Key JJ to TO the DT issue NN is VBZ  that IN the DT bikes NNS , , in IN skillful JJ hands NNS , , can MD go VB virtually RB anywhere RB , , and CC in IN reckless JJ hands NNS can MD become VB vehicles NNS of IN terror NN . .
An DT adept JJ bicyclist NN can MD leap VB from IN a DT dead JJ stop NN to TO the DT top NN of IN a DT picnic NN table NN without IN  losing VBG balance NN . .
Such JJ skills NNS allow VBP riders NNS to TO fly VB down IN treacherous JJ mountain NN grades NNS at IN speeds NNS of IN up IN to TO 40 CD miles NNS an DT hour NN -- : a DT thrill NN for IN the DT cyclist NN but CC a DT nightmare NN for IN unsuspecting JJ hikers NNS or CC equestrians NNS . .
For IN harried VBN public-land JJ managers NNS across IN the DT nation NN , , the DT response NN is VBZ increasingly RB  to TO shut VB the DT gates NNS . .
The DT state NN of IN California NNP , ,  following VBG the DT lead NN of IN some DT regional JJ parks NNS , , recently RB adopted VBD regulations NNS that WDT  closed VBD nearly RB all DT hiking NN paths NNS in IN state NN parks NNS to TO mountain NN bicycles NNS . .
The DT move NN largely RB consigns VBZ them PRP to TO roads NNS used VBN  by IN motorized VBN vehicles NNS . .
Most JJS other JJ states NNS have VBP enacted VBN similar JJ bans NNS . .
The DT bikes NNS are VBP unwelcome JJ on IN trails NNS in IN national JJ parks NNS . .
Even RB the DT U.S. NNP Forest NNP Service NNP , , whose WP$ lenient JJ `` `` multiple-use JJ '' '' philosophy NN  permits VBZ motorized VBN vehicles NNS on IN thousands NNS of IN miles NNS of IN its PRP$ trails NNS across IN the DT U.S. NNP , , has VBZ begun VBN  to TO close VB some DT lands NNS  to TO the DT bikes NNS , , including VBG major JJ portions NNS of IN the DT popular JJ Pacific NNP Crest NNP Trail NNP , , which WDT  stretches VBZ from IN California NNP to TO Canada NNP . .
Often RB these DT closings NNS come VBP after IN vigorous JJ anti-bike JJ lobbying NN by IN conservation NN organizations NNS , , the DT politically RB potent JJ Sierra NNP Club NNP among IN them PRP . .
Sierra NNP has VBZ been VBN instrumental JJ in IN  securing VBG a DT number NN of IN the DT California NNP bans NNS . .
It PRP has VBZ been VBN waging VBG an DT all-out JJ campaign NN  to TO beat VB back RB a DT proposal NN  , , pushed VBN  by IN Utah NNP bike NN groups NNS , ,  to TO allow VB the DT cycles NNS in IN federally RB designated VBN wilderness NN areas NNS , , where WRB they PRP are VBP now RB prohibited VBN  . .
Yet RB Sierra NNP 's POS hard-line JJ stance NN has VBZ created VBN something NN of IN a DT rift NN in IN the DT organization NN , , which WDT  estimates VBZ that IN 17 CD % NN of IN its PRP$ 500,000 CD members NNS own JJ mountain NN bikes NNS . .
Pressure NN from IN these DT members NNS prompted VBD the DT club NN recently RB  to TO soften VB its PRP$ anti-bike JJ rhetoric NN ; : it PRP no RB longer RB , , for IN example NN , , lumps VBZ the DT bikes NNS into IN the DT same JJ category NN as IN motorcycles NNS and CC other JJ terrain-marring JJ off-road JJ vehicles NNS . .
But CC the DT club NN still RB insists VBZ that IN public JJ lands NNS ought MD  to TO be VB closed VBN  to TO the DT bikes NNS unless IN studies NNS indicate VBP  the DT bikes NNS wo MD n't RB injure VB the DT environment NN or CC other JJ users NNS . .
`` `` I PRP have VBP a DT mountain NN bike NN , , yet RB as IN a DT hiker NN I PRP 've VBP been VBN run VBN  off IN the DT road NN by IN kids NNS careening VBG down IN a DT fire NN trail NN on IN them PRP , , '' '' says VBZ  Gene NNP Coan NNP , , an DT official NN at IN Sierra NNP 's POS headquarters NN in IN San NNP Francisco NNP , ,  echoing VBG the DT concerns NNS of IN many JJ members NNS . .
`` `` People NNS who WP  feel VBP that IN cyclists NNS should MD be VB banned VBN  from IN an DT area NN are VBP n't RB looking VBG at IN the DT whole JJ picture NN , , '' '' complains VBZ  Mark NNP Langton NNP , , associate JJ editor NN of IN Mountain NNP and CC City NNP Biking NNP magazine NN in IN Canoga NNP Park NNP , , Calif NNP . .
Mr. NNP Langton NNP is VBZ among IN the DT legions NNS of IN bikers NNS who WP  got VBD their PRP$ first JJ taste NN of IN wilderness NN as IN hikers NNS or CC backpackers NNS . .
He PRP says VBZ  fellow NN bikers NNS show VBP the DT same JJ concern NN for IN the DT land NN that IN they PRP demonstrated VBD  as IN hikers NNS ; : many DT are VBP appalled VBN that IN the DT conservation NN community NN would MD suddenly RB consider VB them PRP the DT enemy NN . .
 To TO fight VB back RB , , activists NNS such JJ as IN Mr. NNP Langton NNP are VBP forming VBG groups NNS   to TO lobby VB land NN managers NNS over IN access NN issues NNS and CC undertake VB education NN programs NNS   to TO show VB that IN the DT bikes NNS can MD responsibly RB share VB trails NNS . .
Mr. NNP Langton NNP 's POS group NN , , Concerned NNP Off-Road NNP Bicyclists NNPS Association NNP , , mounted VBN petition NN drives VBZ   to TO help VB keep VB open JJ certain JJ Santa NNP Monica NNP Mountain NNP trails NNS designated VBN  for IN closing VBG . .
Biking VBG groups NNS in IN Montana NNP , , Idaho NNP , , Michigan NNP and CC Massachusetts NNP have VBP won VBN similar JJ concessions NNS , , says VBZ   Tim NNP Blumenthal NNP , , mountain NN bike NN editor NN of IN Bicycling NNP magazine NN . .
These DT groups NNS have VBP been VBN trying VBG  to TO improve VB the DT mountain NN biker NN 's POS image NN ; : in IN the DT San NNP Francisco-area NNP park NN district NN where WRB a DT ranger NN was VBD clobbered VBN  by IN a DT cyclist NN this DT summer NN  bikers NNS have VBP formed VBN a DT volunteer NN patrol NN   to TO help VB rangers NNS enforce VB regulations NNS , , and CC to TO school NN riders NNS in IN proper JJ trail NN etiquette NN . .
Even RB staunch JJ anti-bike JJ Sierra NNP members NNS concede VBP that IN 10 CD % NN of IN all DT riders NNS cause VBP most JJS of IN the DT problems NNS . .
While IN some DT are VBP renegade NN riders NNS who WP  simply RB scorn VBP regulations NNS , , much RB bad JJ riding NN simply RB reflects VBZ ignorance NN that WDT  can MD be VB corrected VBN  through IN `` `` education NN and CC peer NN pressure NN , , '' '' says VBZ  Jim NNP Hasenauer NNP , , a DT director NN of IN the DT International NNP Mountain NNP Biking NNP Association NNP . .
`` `` I PRP think VBP  we PRP 're VBP making VBG progress NN . . '' ''
Few JJ would MD have VB foreseen VBN such PDT a DT furor NN when WRB , , a DT decade NN ago IN , , some DT Marin NNP County NNP bicycle NN enthusiasts NNS created VBD a DT hybrid JJ bike NN  using VBG fat JJ tires NNS , , lightweight JJ metallurgy NN and CC multi-gear JJ technology NN . .
They PRP wanted VBD a DT machine NN that WDT  would MD allow VB them PRP to TO pedal VB into IN rugged JJ terrain NN then RB inaccessible JJ to TO cycles NNS . .
They PRP got VBD a DT machine NN more RBR responsive JJ , , more RBR stable JJ and CC in IN many JJ ways NNS easier JJR   to TO ride VB  than IN the DT thin-tired JJ racing NN bikes NNS that WDT  then RB were VBD the DT rage NN . .
When WRB the DT bikes NNS first RB entered VBD mass JJ production NN in IN 1981 CD  , , they PRP were VBD dismissed VBN  as IN a DT fad NN . .
Last JJ year NN , , 25 CD % NN of IN the DT 10 CD million CD bicycles NNS sold VBN  in IN the DT U.S. NNP were VBD mountain NN bikes NNS . .
In IN California NNP , , a DT bellwether NN market NN , , they PRP accounted VBD for IN more RBR than IN 80 CD % NN of IN all DT bike NN sales NNS . .
The DT majority NN of IN the DT bikes NNS never RB even RB make VBP it PRP into IN the DT high JJ country NN . .
City NN dwellers NNS love VBP them PRP because IN they PRP shift VBP smoothly RB in IN traffic NN , , bounce VBP easily RB over IN curbs NNS and CC roll VBP through IN road NN glass NN with IN far RB fewer JJR flat JJ tires NNS than IN racing VBG bikes NNS . .
Crested NNP Butte NNP , , population NN 1,200 CD , , is VBZ a DT bastion NN of IN the DT sport NN . .
By IN one CD estimate NN , , everyone NN here RB under IN 50 CD owns VBZ at IN least JJS one CD bike NN . .
The DT town NN is VBZ home NN to TO the DT Mountain NNP Bike NNP Hall NNP of IN Fame NNP and CC it PRP hosts VBZ the DT annual JJ Fat NNP Tire NNP Bike NNP Week NNP . .
This DT summer NN , , the DT jamboree NN attracted VBD more JJR visitors NNS than IN the DT busiest JJS week NN of IN the DT town NN 's POS winter NN ski NN season NN . .
David NNP Lindsey NNP , , chairman NN of IN the DT Fat NNP Tire NNP Bike NNP celebration NN , , muses VBZ that IN the DT bike NN 's POS popularity NN may MD be VB a DT combination NN of IN technology NN and CC nostalgia NN . .
`` `` The DT mountain NN bike NN feels VBZ as RB comfortable JJ as IN the DT ` `` paperboy NN ' '' bike NN  you PRP had VBD  as IN a DT kid NN , , but CC it PRP can MD do VB so RB much RB more JJR , , '' '' he PRP says VBZ  . .
The DT following VBG issues NNS were VBD recently RB filed VBN with IN the DT Securities NNPS and CC Exchange NNP Commission NNP : :
Canada NNP 's POS Province NNP of IN Nova NNP Scotia NNP , , shelf NN offering NN of IN up IN to TO $ $ 550 CD million CD  of IN debentures NNS . .
Golar NNP Gas NNP Holding NNP Co. NNP , , a DT subsidiary NN of IN Gotaas-Larsen NNP Shipping NNP Corp. NNP , , offering VBG of IN $ $ 280 CD million CD  first RB preferred VBD ship NN mortgage NN notes NNS , , via IN Merrill NNP Lynch NNP Capital NNP Markets NNPS . .
H.F. NNP Ahmanson NNP & CC Co. NNP , , offering NN of IN four CD million CD shares NNS of IN noncumulative JJ convertible JJ preferred VBN stock NN , , Series NNP B. NNP , , via IN Goldman NNP , , Sachs NNP & CC Co NNP , , First NNP Boston NNP Corp. NNP , , and CC Merrill NNP Lynch NNP . .
Shared NNP Technologies NNPS Inc. NNP , , offering NN of IN 2.5 CD million CD common JJ shares NNS , , via IN Smetek NNP , , Van NNP Horn NNP & CC Cormack NNP Inc. NNP and CC Oakes NNP , , Fitzwilliams NNP & CC Co NNP . .
Stock-market NN tremors NNS again RB shook VBD bond NN prices NNS , , while IN the DT dollar NN turned VBD in RP a DT mixed VBN performance NN . .
Early RB yesterday NN , , investors NNS scrambled VBD  to TO buy VB Treasury NNP bonds NNS for IN safety NN as IN stock NN prices NNS plummeted VBD and CC fears NNS  mounted VBD of IN a DT replay NN of IN Friday NNP . .
But CC stocks NNS later RB recovered VBD , ,  erasing VBG most JJS of IN their PRP$ early JJ declines NNS . .
That DT cut VBD short RB the DT rally NN in IN Treasury NNP bonds NNS and CC depressed VBN prices NNS moderately RB below IN late JJ Monday NNP 's POS levels NNS . .
The DT Dow NNP Jones NNP Industrial NNP Average NNP , , down IN more RBR than IN 60.25 CD points NNS early RB in IN the DT day NN , , finished VBD 18.65 CD points NNS lower JJR at IN 2638.73 CD . .
Long-term JJ Treasury NNP issues NNS declined VBD about IN half PDT a DT point NN , , or CC $ $ 5 CD  for IN each DT $ $ 1,000 CD  face NN amount NN . .
`` `` The DT stock NN market NN clearly RB is VBZ leading VBG the DT bond NN markets NNS , , '' '' said VBD  Jack NNP Conlon NNP , , an DT executive JJ vice NN president NN at IN Nikko NNP Securities NNPS . .
`` `` People NNS are VBP breathing VBG a DT major JJ sigh NN  of IN relief NN that IN the DT world NN did VBD n't RB end VB Monday NNP morning NN '' '' or CC yesterday NN . .
Gold NN , , a DT closely RB watched VBN barometer NN of IN investor NN anxiety NN , , was VBD little RB changed VBN . .
The DT dollar NN initially RB fell VBD against IN other JJ major JJ currencies NNS on IN news NN that IN the DT U.S. NNP trade NN deficit NN surged VBD in IN August NNP to TO $ $ 10.77 CD billion CD  . .
But CC the DT dollar NN later RB rebounded VBD , ,  finishing VBG slightly RB higher JJR against IN the DT yen NN although IN slightly RB lower JJR against IN the DT mark NN . .
Federal NNP Reserve NNP officials NNS sent VBD another DT signal NN of IN their PRP$ determination NN  to TO shore VB up RP investor NN confidence NN . .
In IN an DT apparent JJ attempt NN  to TO keep VB a DT lid NN on IN short-term JJ interest NN rates NNS , , the DT Fed NNP once RB again RB pumped VBD money NN into IN the DT banking NN system NN . .
But CC the DT Fed NNP move NN was VBD a DT small JJ gesture NN , , traders NNS said VBD   . .
Fed NNP officials NNS appear VBP reluctant JJ  to TO ease VB their PRP$ credit NN grip NN any RB further RB because IN a DT bold JJ move NN does VBZ n't RB appear VB necessary JJ , , several JJ investment NN managers NNS said VBD   . .
The DT Fed NNP has VBZ allowed VBN a DT key JJ short-term JJ interest NN rate NN to TO decline VB about IN one-quarter NN percentage NN point NN . .
The DT federal JJ funds NNS rate NN on IN overnight JJ loans NNS between IN banks NNS has VBZ been VBN hovering VBG around IN 8 CD 3\/4 CD % NN , , down IN from IN 9 CD % NN previously RB . .
Although IN stocks NNS have VBP led VBN bonds NNS this DT week NN , , some DT traders NNS predict VBP  that IN relationship NN will MD reverse VB during IN the DT next JJ few JJ weeks NNS . .
Nikko NNP 's POS Mr. NNP Conlon NNP fears VBZ  a DT huge JJ wave NN of IN Treasury NNP borrowing VBG early JJ next JJ month NN will MD drive VB down RB Treasury NNP bond NN prices NNS . .
That IN , , coupled VBN  with IN poor JJ third-quarter NN corporate-earnings NNS comparisons NNS , , `` `` will MD make VB trouble NN for IN the DT equity NN market NN for IN the DT next JJ two CD to TO three CD months NNS , , '' '' he PRP says VBZ   . .
But CC several JJ other JJ traders NNS contend VBP  investors NNS have VBP overreacted VBN to TO junk-bond NN jitters NNS , , and CC that IN stock NN prices NNS will MD continue VB  to TO recover VB . .
`` `` They PRP shot VBD the DT whole JJ orchestra NN just RB because IN the DT piano NN player NN hit VBD a DT bad JJ note NN , , '' '' said VBD  Laszlo NNP Birinyi NNP , , president NN of IN Birinyi NNP Associates NNPS Inc. NNP , ,  referring VBG to TO the DT stock NN market NN 's POS plunge NN Friday NNP on IN news NN of IN trouble NN in IN  financing VBG the DT UAL NNP Corp NNP . . buy-out NN . .
In IN major JJ market NN activity NN : : Treasury NNP bond NN prices NNS fell VBD . .
The DT yield NN on IN 30-year JJ Treasury NNP bonds NNS climbed VBD back RB above IN 8 CD % NN , ,  ending VBG the DT day NN at IN 8.03 CD % NN . .
The DT dollar NN was VBD mixed VBN . .
Late JJ yesterday NN in IN New NNP York NNP , , the DT dollar NN rose VBD to TO 142.75 CD yen NN from IN 141.80 CD yen NN Monday NNP , , but CC fell VBD to TO 1.8667 CD marks NNS from IN 1.8685 CD marks NNS . .
The DT Consumer NNP News NNP and CC Business NNP Channel NNP cable NN network NN and CC U.S. NNP News NNP & CC World NNP Report NNP have VBP formed VBN a DT joint JJ venture NN  to TO produce VB cable NN program NN versions NNS of IN special JJ issues NNS of IN the DT magazine NN . .
The DT programs NNS will MD run VB on IN the DT cable NN network NN the DT Sunday NNP evening NN immediately RB prior RB to TO the DT release NN of IN the DT special JJ issue NN of IN U.S. NNP News NNP & CC World NNP Report NNP . .
CNBC NNP is VBZ a DT joint JJ venture NN of IN the DT National NNP Broadcasting NNP Co. NNP , , a DT unit NN of IN General NNP Electric NNP Co. NNP , , and CC Cablevision NNP System NNP Corp NNP . .
Advertisers NNS will MD be VB offered VBN  an DT advertising NN package NN , , which WDT for IN a DT single JJ price NN , ,  will MD include VB time NN on IN the DT CNBC NNP program NN and CC ad NN pages NNS in IN the DT special JJ guides NNS . .
CNBC NNP will MD produce VB six CD , , one-hour JJ programs NNS , ,  beginning VBG in IN April NNP 1990 CD . .
The DT first JJ program NN scheduled VBN  in IN the DT joint JJ venture NN is VBZ `` `` The NNP 1990 CD Homeowner NNP 's POS Guide NNP . . '' ''
Other JJ programs NNS and CC special JJ issues NNS will MD be VB based VBN  on IN themes NNS of IN health NN , , jobs NNS , , personal JJ finance NN , , the DT best JJS colleges NNS , , and CC investments NNS . .
The DT programs NNS will MD be VB written VBN and CC produced VBN  by IN CNBC NNP , , with IN background NN and CC research NN provided VBN  by IN staff NN from IN U.S. NNP News NNP & CC World NNP Report NNP . .
Skoal NNP Daze NNP
I PRP 've VBP learned VBN the DT hard JJ way NN that IN too RB much JJ booze NN Takes VBZ revenge NN the DT next JJ day NN about IN nine CD ; : No DT wonder NN  I PRP say VBP , , `` `` I PRP drink VBP to TO your PRP$ health NN '' '' -- : It PRP certainly RB is VBZ n't RB to TO mine PRP ! .
-- : George NNP O. NNP Ludcke NNP . .
Spaced NNP Out NNP
Those DT supermarket NN tabloids NNS Make VBP me PRP feel VB slow JJ Because IN I PRP still RB have VBP n't RB seen VBN
-- : Bruce NNP Kafaroff NNP . .
Daffynition NNP
Repression NN : : emote VB control NN . .
-- : Daisy NNP Brown NNP . .
Weyerhaeuser NNP Co. NNP reported VBD a DT one-time JJ gain NN and CC strong JJ wood-product NN sales NNS that WDT  offset VBP weakness NN in IN pulp NN and CC paper NN  to TO fuel VB a DT 15 CD % NN jump NN in IN third-quarter NN net JJ income NN to TO $ $ 166.8 CD million CD  , , or CC 78 CD cents NNS a DT share NN . .
In IN the DT 1988 CD third JJ quarter NN , , the DT forest-products NNS company NN reported VBD profit NN of IN $ $ 144.9 CD million CD  , , or CC 69 CD cents NNS a DT share NN . .
Sales NNS rose VBD 9 CD % NN to TO $ $ 2.57 CD billion CD  from IN $ $ 2.36 CD billion CD  . .
For IN the DT nine CD months NNS , , the DT company NN posted VBD a DT 14 CD % NN rise NN in IN profit NN to TO $ $ 469.8 CD million CD  , , or CC $ $ 2.21 CD  a DT share NN , , from IN $ $ 410.3 CD million CD  , , or CC $ $ 1.95 CD  a DT share NN . .
Sales NNS rose VBD 9 CD % NN to TO $ $ 7.54 CD billion CD  from IN $ $ 6.95 CD billion CD  . .
Results NNS for IN the DT 1989 CD third JJ quarter NN and CC nine CD months NNS include VBP a DT pretax NN loss NN of IN $ $ 33 CD million CD  from IN the DT company NN 's POS business NN improvement NN and CC refocusing NN program NN , , and CC a DT gain NN of IN $ $ 49 CD million CD  on IN the DT sale NN of IN a DT subsidiary NN 's POS common JJ stock NN . .
Forest-products NNS operations NNS strengthened VBD in IN the DT third JJ quarter NN , , while IN paper NN operations NNS were VBD dogged VBN  by IN higher JJR costs NNS , , soft JJ newsprint NN exports NNS and CC a DT strong JJ Japanese JJ yen NN . .
Some DT competing VBG forest-products NNS firms NNS have VBP recently RB reported VBN improved VBN results NNS due JJ to TO strong JJ pulp NN and CC paper NN business NN . .
Weyerhaeuser NNP 's POS pulp NN and CC paper NN operations NNS were VBD up IN for IN the DT nine CD months NNS , , but CC full-year JJ performance NN depends VBZ on IN the DT balance NN of IN operating VBG and CC maintenance NN costs NNS , , plus CC pricing VBG of IN certain JJ products NNS , , the DT company NN said VBD   . .
 Looking VBG ahead RB to TO the DT fourth JJ quarter NN , , the DT company NN said VBD  export JJ log NN and CC lumber NN markets NNS will MD be VB weak JJ , , while IN panel NN and CC plywood NN markets NNS will MD be VB stronger JJR . .
Pulp NN and CC paper NN performance NN depends VBZ on IN cost NN and CC price NN variables NNS , , the DT company NN said VBD   . .
Bankers NNP Trust NNP New NNP York NNP Corp. NNP became VBD the DT latest JJS major JJ U.S. NNP bank NN   to TO increase VB reserves NNS for IN its PRP$ loans NNS to TO less-developed JJ countries NNS , ,  making VBG a DT $ $ 1.6 CD billion CD  third-quarter NN addition NN to TO its PRP$ provision NN . .
The DT bank NN also RB said VBD  it PRP expects VBZ  to TO report VB a DT $ $ 1.42 CD billion CD  loss NN for IN the DT third JJ quarter NN and CC a DT loss NN for IN the DT full JJ year NN . .
The DT new JJ reserves NNS bring VBP the DT company NN 's POS provision NN for IN loans NNS to TO Third NNP World NNP countries NNS to TO $ $ 2.6 CD billion CD  , , or CC 85 CD % NN of IN Bankers NNP Trust NNP 's POS medium NN and CC long-term JJ loans NNS to TO these DT countries NNS . .
`` ``  Step VB up RB to TO the DT plate NN and CC take VB the DT big JJ swing NN . .
 Get VB the DT problem NN behind IN you PRP and CC  do VB n't RB look VB back RB , , '' '' said VBD  James NNP J. NNP McDermott NNP , , analyst NN at IN Keefe NNP , , Bruyette NNP & CC Woods NNP , , in IN  approving VBG of IN the DT move NN . .
Bankers NNP Trust NNP `` `` has VBZ had VBN the DT capacity NN  to TO do VB this DT for IN some DT time NN , , '' '' the DT analyst NN said VBD   . .
He PRP expects VBZ Citicorp NNP to TO take VB a DT similar JJ step NN this DT year NN . .
Citicorp NNP yesterday NN reported VBD a DT 9 CD % NN third-quarter NN earnings NNS drop NN , , which WDT analysts NNS called VBD  a DT bit NN disappointing JJ , , while IN Manufacturers NNP Hanover NNP Corp. NNP posted VBD a DT $ $ 789 CD million CD  loss NN for IN the DT quarter NN after IN  adding VBG $ $ 950 CD million CD  to TO its PRP$ reserve NN for IN loans NNS to TO less-developed JJ countries NNS . .
Three CD other JJ major JJ U.S. NNP banks NNS posted VBD earnings NNS increases NNS . .
Wells NNP Fargo NNP & CC Co. NNP of IN San NNP Francisco NNP posted VBD a DT 17 CD % NN jump NN . .
PNC NNP Financial NNP Corp. NNP , , the DT parent NN of IN Pittsburgh NNP National NNP Bank NNP , , reported VBD  net JJ income NN climbed VBD 9.8 CD % NN , , while IN net NN for IN Banc NNP One NNP Corp. NNP of IN Columbus NNP , , Ohio NNP , , grew VBD 3.8 CD % NN . .
Citicorp NNP
Analysts NNS were VBD only RB slightly RB disappointed VBN  by IN Citicorp NNP 's POS numbers NNS . .
`` `` There EX 's VBZ nothing NN in IN here RB that IN  's VBZ horrible JJ and CC nothing NN   to TO make VB you PRP think VB  they PRP 're VBP setting VBG the DT world NN on IN fire NN , , '' '' said VBD  Carole NNP Berger NNP , , analyst NN for IN C.J. NNP Lawrence NNP , , Morgan NNP Grenfell NNP Inc NNP . .
Earnings NNS from IN the DT bank NN 's POS global JJ consumer NN business NN grew VBD 27 CD % NN . .
`` `` The DT consumer NN business NN continues VBZ  to TO drive VB the DT earnings NNS stream NN , , '' '' said VBD Mr. NNP McDermott NNP of IN Keefe NNP , , Bruyette NNP & CC Woods NNP . .
Corporate JJ finance NN and CC trading NN results NNS in IN member NN countries NNS of IN the DT Organization NNP for IN Economic NNP Cooperation NNP and CC Development NNP were VBD `` `` relatively RB flat JJ , , sometimes RB choppy JJ , , '' '' the DT bank NN said VBD   , , and CC profit NN for IN the DT area NN sank VBD 27 CD % NN . .
The DT cross-border JJ loan NN portfolio NN reflected VBD `` `` adjustment NN problems NNS and CC episodic JJ payment NN patterns NNS , , '' '' the DT bank NN said VBD   no DT interest NN payments NNS from IN Argentina NNP in IN the DT nine CD months NNS and CC none NN from IN Brazil NNP in IN the DT third JJ quarter NN , , while IN Venezuela NNP brought VBD itself PRP `` `` substantially RB current JJ . . '' ''
Overall RB , , the DT portfolio NN narrowed VBD its PRP$ quarterly JJ loss NN to TO $ $ 70 CD million CD  from IN $ $ 80 CD million CD  a DT year NN earlier RBR . .
`` `` People NNS were VBD waiting VBG  to TO see VB if IN we PRP would MD take VB an DT additional JJ provision NN '' '' for IN medium-term JJ and CC long-term JJ loans NNS to TO less-developed JJ countries NNS , , a DT Citicorp NNP spokesman NN said VBD   . .
But CC he PRP reiterated VBD the DT bank NN 's POS position NN that IN it PRP is VBZ comfortable JJ with IN the DT current JJ level NN of IN $ $ 2.6 CD billion CD  , , covering VBG about IN 30 CD % NN of IN the DT $ $ 8.9 CD billion CD  of IN such JJ loans NNS outstanding JJ . .
Ronald NNP I. NNP Mandle NNP , , analyst NN at IN Sanford NNP C. NNP Bernstein NNP & CC Co. NNP , , called VBD Citicorp NNP 's POS venture-capital JJ gains NNS of IN $ $ 93 CD million CD  before IN taxes NNS `` `` strong JJ . . '' ''
A DT `` `` concerning VBG '' '' item NN  the DT analyst NN cited VBD  was VBD the DT 10 CD % NN jump NN in IN expenses NNS , , which WDT the DT bank NN attributes VBZ  to TO costs NNS of IN  expanding VBG both PDT its PRP$ consumer NN credit-card NN operations NNS and CC its PRP$ overseas JJ branch NN business NN . .
Citicorp NNP 's POS spokesman NN said VBD , , however RB , , that IN the DT bank NN is VBZ maintaining VBG those DT expenses NNS in IN proportion NN to TO revenue NN growth NN . .
Wells NNP Fargo NNP
Wells NNP Fargo NNP continued VBD  to TO generate VB one CD of IN the DT highest JJS profit NN margins NNS among IN major JJ banks NNS , ,  minimizing VBG a DT drop NN in IN net JJ interest NN margin NN with IN 13 CD % NN third-quarter NN growth NN in IN high-yielding JJ business NN loans NNS and CC similar JJ growth NN in IN mortgages NNS . .
Its PRP$ margin NN fell VBD only RB seven CD basis NN points NNS , , or CC 7\/100ths CD of IN a DT percentage NN point NN , , from IN a DT year NN ago IN , , compared VBN with IN a DT 13-point JJ drop NN at IN Security NNP Pacific NNP Corp. NNP and CC much JJ larger JJR declines NNS among IN banks NNS in IN other JJ parts NNS of IN the DT country NN . .
As IN a DT result NN , , Wells NNP Fargo NNP 's POS net JJ interest NN income NN rose VBD $ $ 36.3 CD million CD  , , or CC 7 CD % NN , , to TO $ $ 537 CD million CD  for IN the DT quarter NN . .
Non-interest JJ income NN fell VBD slightly RB to TO $ $ 191.9 CD million CD  from IN $ $ 193.3 CD million CD  , , while IN Wells NNP Fargo NNP continued VBD  to TO rigorously RB control VB non-interest JJ expense NN , , which WDT  was VBD almost RB flat JJ at IN $ $ 393.4 CD million CD  . .
The DT combination NN of IN solid JJ loan NN growth NN with IN tight JJ expense NN control NN gave VBD Wells NNP Fargo NNP a DT 1.25 CD % NN return NN on IN average JJ assets NNS for IN the DT quarter NN , , about IN 40 CD % NN higher JJR than IN Security NNP Pacific NNP 's POS and CC a DT profit NN ratio NN matched VBN  by IN only RB two CD or CC three CD other JJ major JJ banks NNS in IN the DT U.S. NNP . .
Wells NNP Fargo NNP 's POS return NN on IN equity NN increased VBD to TO 24.4 CD % NN from IN 23.8 CD % NN . .
Wells NNP Fargo NNP has VBZ sold VBN all DT of IN its PRP$ non-trade JJ loans NNS made VBN  to TO less-developed JJ countries NNS , , and CC managed VBD  to TO partly RB reverse VB the DT sharp JJ rise NN in IN domestic JJ non-accrual JJ loans NNS , , which WDT  fell VBD 8 CD % NN from IN the DT previous JJ quarter NN to TO $ $ 806.8 CD million CD  from IN $ $ 880.9 CD million CD  . .
But CC the DT amount NN was VBD still RB 39 CD % NN higher JJR than IN the DT year-ago JJ level NN , , and CC 25 CD % NN higher JJR as IN a DT percentage NN of IN total JJ loans NNS . .
That DT trend NN , , and CC Wells NNP Fargo NNP 's POS heavy JJ exposure NN to TO leveraged JJ buy-outs NNS , , are VBP about IN the DT only JJ worries NNS  analysts NNS have VBP  about IN Wells NNP Fargo NNP 's POS financial JJ picture NN . .
Wells NNP Fargo NNP is VBZ rebuilding VBG its PRP$ loan-loss NN reserve NN , , which WDT  increased VBD to TO $ $ 711 CD million CD  at IN Sept. NNP 30 CD from IN $ $ 664 CD million CD  the DT previous JJ quarter NN but CC was VBD down IN from IN $ $ 852 CD million CD  a DT year NN ago IN , , when WRB the DT bank NN still RB had VBD some DT shaky JJ foreign JJ loans NNS  . .
Manufacturers NNPS Hanover NNP
Manufacturers NNPS Hanover NNP said VBD that IN excluding VBG the DT addition NN to TO its PRP$ reserves NNS , , certain JJ tax NN benefits NNS , , and CC a DT one-time JJ $ $ 16 CD million CD  gain NN on IN the DT sale NN of IN an DT interest NN in IN a DT foreign JJ leasing NN company NN , , third-quarter NN earnings NNS were VBD $ $ 75 CD million CD  . .
The DT comparable JJ year-earlier JJ number NN was VBD $ $ 56 CD million CD  , , a DT spokesman NN said VBD  . .
The DT bank NN 's POS additional JJ provisions NNS brought VBD reserves NNS for IN loans NNS to TO less-developed JJ countries NNS to TO $ $ 2.4 CD billion CD  , ,  covering VBG 36 CD % NN of IN its PRP$ medium NN and CC long-term JJ loans NNS outstanding JJ to TO these DT nations NNS . .
The DT net JJ interest NN margin NN - : the DT difference NN between IN the DT bank NN 's POS cost NN of IN funds NNS and CC what WP it PRP receives VBZ  as IN interest NN payments NNS -- : improved VBD in IN the DT quarter NN , , as IN did VBD certain JJ areas NNS of IN wholesale JJ banking NN . .
Fees NNS from IN syndicating VBG loans NNS dropped VBD 48 CD % NN , , to TO $ $ 21 CD million CD  . .
`` `` We PRP did VBD n't RB take VB part NN in IN a DT lot NN of IN deals NNS '' '' in IN the DT quarter NN `` `` because IN their PRP$ credit NN quality NN was VBD poor JJ , , '' '' the DT spokesman NN said VBD  . .
Expenses NNS unrelated JJ to TO interest NN rose VBD 5.4 CD % NN , , to TO $ $ 541 CD million CD  . .
PNC NNP Financial NNP
PNC NNP Financial NNP cited VBD higher JJR income NN from IN sources NNS unrelated JJ to TO interest NN and CC said VBD  it PRP continues VBZ  to TO cut VB costs NNS . .
Net JJ interest NN income NN in IN the DT third JJ quarter NN edged VBD up RP 1.4 CD % NN , , to TO $ $ 317.7 CD million CD  . .
Trust NN income NN grew VBD 15 CD % NN , , to TO $ $ 49.9 CD million CD  , , while IN service NN charges NNS , , fees NNS and CC commissions NNS increased VBD 22 CD % NN , , to TO $ $ 79.4 CD million CD  . .
The DT bank NN 's POS total JJ allowance NN for IN credit NN losses NNS was VBD $ $ 502.1 CD million CD  , , or CC 1.82 CD % NN of IN total JJ loans NNS . .
Prime NNP Minister NNP Rajiv NNP Gandhi NNP set VBD a DT date NN  next IN month NN for IN general JJ elections NNS that IN some DT analysts NNS say VBP   could MD cost VB him PRP and CC his PRP$ ruling VBG Congress NNP -LRB- -LRB- I NN -RRB- -RRB- Party NN control NN of IN the DT government NN . .
Other JJ analysts NNS say VBP  the DT Indian JJ leader NN could MD retain VB control NN with IN a DT slim JJ majority NN or CC be VB forced VBN  to TO rule VB as IN the DT dominant JJ partner NN in IN a DT coalition NN with IN other JJ parties NNS . .
Elections NNS in IN this DT large JJ , , diverse JJ and CC passionate JJ nation NN are VBP always RB hard JJ   to TO predict VB  . .
Much RB depends VBZ on IN the DT opposition NN , , a DT loose JJ group NN of IN regional JJ and CC ideological JJ parties NNS led VBN  by IN former JJ Gandhi NNP cabinet NN minister NN Vishwanath NNP Pratap NNP Singh NNP . .
The DT biggest JJS certainty NN is VBZ that IN the DT elections NNS will MD be VB a DT vote NN for IN or CC against IN Mr. NNP Gandhi NNP and CC his PRP$ five CD years NNS in IN power NN -- : five CD years NNS of IN ups NNS and CC downs NNS , , promises NNS and CC disappointments NNS and CC wide JJ fluctuations NNS in IN popularity NN . .
Yesterday NN , , four CD days NNS after IN an DT unusual JJ parliamentary JJ defeat NN for IN the DT ruling VBG party NN , , Mr. NNP Gandhi NNP called VBD elections NNS for IN the DT lower JJR house NN of IN Parliament NNP on IN Nov. NNP 22 CD and CC 24 CD . .
The DT elections NNS will MD be VB held VBN  in IN different JJ states NNS on IN one CD of IN the DT two CD days NNS . .
-LRB- -LRB- The DT lower JJR house NN 's POS five-year JJ term NN expires VBZ in IN January NNP ; : the DT Parliament NNP 's POS upper JJ house NN is VBZ appointed VBN  . . -RRB- -RRB-
The DT elections NNS will MD be VB a DT rigorous JJ test NN for IN the DT 45-year-old JJ prime JJ minister NN and CC Congress NNP -LRB- -LRB- I NN -RRB- -RRB- , , which WDT  in IN various JJ forms NNS has VBZ ruled VBN for IN 40 CD of IN India NNP 's POS 42 CD years NNS of IN independence NN . .
After IN a DT landslide NN win NN in IN 1984 CD in IN polls NNS held VBN  after IN the DT assassination NN of IN his PRP$ mother NN , , Indira NNP Gandhi NNP , , Mr. NNP Gandhi NNP saw VBD his PRP$ popularity NN begin VB a DT roller NN coaster NN ride NN . .
His PRP$ early JJ promises NNS  to TO make VB India NNP a DT modern JJ nation NN remain VBP bogged VBD down IN in IN bloated JJ bureaucracy NN . .
His PRP$ pledge NN  to TO clean VB up RP local JJ administration NN and CC Indian JJ politics NNS , , including VBG his PRP$ own JJ party NN , , went VBD unfulfilled JJ . .
His PRP$ `` `` Mr. NNP Clean NNP '' '' image NN was VBD muddied VBN  by IN an DT arms-kickback NN scandal NN , , which WDT  will MD be VB a DT major JJ campaign NN issue NN . .
Some DT analysts NNS predict VBP that DT disappointment NN in IN Mr. NNP Gandhi NNP 's POS spent VBN pledge NN  to TO reduce VB corruption NN and CC heavy-handed JJ local JJ government NN will MD crest VB at IN the DT polls NNS . .
`` `` There EX 's VBZ a DT wide JJ feeling NN of IN indignation NN across IN the DT country NN , , '' '' says VBZ  Bhabani NNP Sen NNP Gupta NNP of IN the DT Center NNP for IN Policy NNP Research NNP , , in IN New NNP Delhi NNP . .
`` `` I PRP think VBP  the DT people NNS will MD be VB judging VBG the DT regime NN by IN a DT petty JJ policeman NN , , by IN a DT corrupt JJ revenue NN collector NN . .
This DT could MD be VB a DT big JJ protest NN against IN an DT administrative JJ failure NN . . '' ''
Even RB if IN the DT Congress NNP -LRB- -LRB- I NN -RRB- -RRB- retains VBZ control NN of IN the DT government NN , , Mr. NNP Gandhi NNP 's POS ability NN  to TO push VB through IN major JJ initiatives NNS might MD be VB hobbled VBN  by IN a DT thinner JJR majority NN . .
Economic JJ analysts NNS call VBP his PRP$ trail-blazing JJ liberalization NN of IN the DT Indian JJ economy NN incomplete JJ , , and CC many JJ are VBP hoping VBG for IN major JJ new JJ liberalizations NNS if IN he PRP is VBZ returned VBN  firmly RB to TO power NN . .
The DT Lok NNP Sabha NNP , , or CC lower JJR house NN of IN Parliament NNP , , has VBZ 542 CD elected VBN  and CC two CD appointed VBN  seats NNS . .
In IN 1984 CD , , the DT Congress NNP -LRB- -LRB- I NN -RRB- -RRB- captured VBN 405 CD seats NNS , , the DT largest JJS victory NN in IN the DT history NN of IN Indian JJ democracy NN . .
The DT landslide NN was VBD fueled VBN  by IN panic NN that WDT  prevailed VBD in IN India NNP at IN the DT time NN . .
Mrs. NNP Gandhi NNP had VBD been VBN assassinated VBN  by IN separatist JJ Sikhs NNPS , , and CC many JJ Indians NNPS feared VBD  their PRP$ country NN might MD split VB apart RB . .
In IN the DT previous JJ three CD general JJ elections NNS , , similar JJ national JJ issues NNS clinched VBD the DT vote NN . .
In IN 1971 CD , , the DT Congress NNP Party NNP won VBD after IN India NNP 's POS victory NN in IN the DT Bangladesh NNP war NN . .
In IN 1977 CD , , Mrs. NNP Gandhi NNP was VBD thrown VBN  out IN of IN office NN after IN her PRP$ 19-month JJ emergency NN rule NN , , and CC in IN 1980 CD , , after IN her PRP$ successors NNS made VBD a DT mess NN of IN their PRP$ three CD years NNS in IN power NN , , she PRP was VBD restored VBN  to TO office NN . .
Most RBS political JJ analysts NNS say VBP that IN if IN Mr. NNP Gandhi NNP 's POS opposition NN unites VBZ  to TO field VB single JJ candidates NNS in IN most JJS precincts NNS , , the DT Congress NNP -LRB- -LRB- I NN -RRB- -RRB- will MD lose VB big JJ . .
But CC if IN the DT opposition NN remains VBZ fractured VBN , , the DT Congress NNP -LRB- -LRB- I NN -RRB- -RRB- could MD win VB a DT small JJ majority NN , , or CC lead VB a DT coalition NN government NN . .
Chimanbhai NNP Mehta NNP , , a DT parliamentarian NN and CC former JJ Gandhi NNP ally NN , , predicts VBZ  Congress NNP -LRB- -LRB- I NN -RRB- -RRB- will MD win VB only RB 150 CD seats NNS , , a DT quarter NN of IN the DT house NN , , if IN the DT opposition NN fields VBZ single JJ candidates NNS in IN 80 CD % NN of IN the DT races NNS . .
Analysts NNS say VBP  the DT opposition NN will MD struggle VB this DT week NN  to TO unite VB , , and CC its PRP$ success NN will MD be VB clear JJ only RB when WRB it PRP announces VBZ its PRP$ final JJ list NN of IN parliamentary JJ candidates NNS  . .
The DT arms-kickback NN scandal NN is VBZ likely JJ  to TO be VB one CD of IN the DT big JJ talking VBG points NNS in IN the DT campaign NN , , but CC it PRP  's VBZ unclear JJ how WRB it PRP is VBZ viewed VBN  by IN average JJ Indian JJ voters NNS . .
In IN 1986 CD , , India NNP signed VBD a DT $ $ 1.4 CD billion CD  contract NN with IN AB NNP Bofors NNP , , a DT unit NN of IN Nobel NNP Industries NNPS Sweden NNP AB NNP , ,  to TO purchase VB 400 CD artillery NN pieces NNS . .
The DT contract NN was VBD negotiated VBN by IN the DT countries NNS ' POS two CD prime JJ ministers NNS , , and CC was VBD supposed VBN  to TO be VB free JJ of IN commissions NNS or CC agents NNS ' POS costs NNS . .
In IN April NNP 1987 CD , , evidence NN  surfaced VBD that IN commissions NNS were VBD paid VBN  . .
The DT opposition NN charged VBD that IN the DT money NN was VBD used VBN  to TO bribe VB Indian JJ government NN officials NNS , , an DT allegation NN denied VBN  by IN Mr. NNP Gandhi NNP 's POS administration NN . .
But CC many JJ of IN his PRP$ statements NNS on IN the DT issue NN in IN Parliament NNP subsequently RB were VBD proven VBN  wrong JJ by IN documentary JJ evidence NN . .
The DT scandal NN has VBZ faded VBN and CC flared VBN , , but CC recent JJ disclosures NNS propelled VBD it PRP back RB onto IN the DT front JJ pages NNS , , and CC that DT has VBZ helped VBN  galvanize VB the DT opposition NN , , which WDT  last JJ week NN blocked VBD passage NN of IN two CD constitutional JJ amendment NN bills NNS . .
It PRP was VBD the DT first JJ time NN in IN 20 CD years NNS that IN such JJ government NN bills NNS were VBD defeated VBN  . .
In IN a DT country NN where WRB a DT bribe NN is VBZ needed VBN  to TO get VB a DT phone NN , , a DT job NN , , and CC even RB into IN a DT school NN  , , the DT name NN Bofors NNP has VBZ become VBN a DT potent JJ rallying NN cry NN against IN the DT government NN . .
That DT illustrates VBZ the DT kind NN of IN disappointment NN  many JJ Indians NNPS feel VBP  toward IN Mr. NNP Gandhi NNP , , whom WP they PRP zestfully RB elected VBD  and CC enthusiastically RB supported VBD  in IN his PRP$ first JJ two CD years NNS in IN power NN . .
His PRP$ term NN has VBZ produced VBN no DT spectacular JJ failures NNS in IN politics NNS , , in IN the DT economy NN or CC on IN the DT military JJ front NN , , and CC has VBZ chalked VBN up RP some DT successes NNS . .
But CC the DT average JJ Indian NNP had VBD tremendous JJ hope NN in IN the DT youthful JJ leader NN and CC his PRP$ promise NN  to TO make VB both DT government NN and CC the DT ruling VBG party NN more JJR effective JJ and CC less RBR corrupt JJ . .
His PRP$ failures NNS in IN those DT two CD areas NNS deeply RB , , and CC sometimes RB bitterly RB , , disappointed VBN many JJ Indians NNPS . .
`` `` We PRP do VBP n't RB like VB the DT Congress NNP -LRB- -LRB- I NN -RRB- -RRB- , , '' '' says VBZ  Sooraji NNP Jath NNP , , a DT farmer NN in IN the DT western JJ state NN of IN Gujarat NN . .
`` `` The DT Congress NNP government NN is VBZ taking VBG the DT farmers NNS ' POS bread NN and CC not RB giving VBG us PRP any DT support NN . .
When WRB there EX are VBP well NN problems NNS , , light NN problems NNS , , road NN problems NNS , ,  the DT government NN tells VBZ us PRP  to TO forget VB it PRP . . '' ''
The DT greatest JJS thing NN going VBG for IN Mr. NNP Gandhi NNP and CC the DT Congress NNP -LRB- -LRB- I NN -RRB- -RRB- Party NN is VBZ the DT poor JJ reputation NN of IN the DT opposition NN . .
Even RB if IN it PRP unites VBZ for IN the DT elections NNS , , its PRP$ coherence NN is VBZ likely JJ  to TO be VB temporary JJ . .
When WRB the DT Congress NNP -LRB- -LRB- I NN -RRB- -RRB- lost VBD the DT 1977 CD election NN , , following VBG Mrs. NNP Gandhi NNP 's POS hated VBN emergency NN rule NN  , , a DT similar JJ coalition NN took VBD power NN and CC then RB disintegrated VBD . .
Many JJ Indians NNPS fear VBP a DT repeat NN of IN that DT experience NN . .
March NNP 24 CD , , 1986 CD : :
AB NNP Bofors NNP , , a DT unit NN of IN Nobel NNP Industries NNPS Sweden NNP AB NNP , , enters VBZ into IN a DT $ $ 1.4 CD billion CD  contract NN  with IN India NNP 's POS Defense NNP Ministry NNP  to TO supply VB 400 CD Bofors NNP FH-77B NNP 155-mm CD field NN howitzer NN guns NNS . .
In IN 1985 CD , , Prime NNP Minister NNP Rajiv NNP Gandhi NNP , , in IN his PRP$ talks NNS with IN then JJ Swedish NNP Prime NNP Minister NNP Olof NNP Palme NNP , , imposed VBD the DT condition NN that IN the DT contract NN have VB no DT middlemen NNS . .
April NNP 16 CD , , 1987 CD : :
Swedish NNP National NNP Radio NNP reports VBZ that IN about IN $ $ 40 CD million CD  -- : nearly RB 3 CD % NN of IN the DT total JJ contract NN -- : was VBD paid VBN  by IN Bofors NNP as IN commissions NNS to TO middlemen NNS . .
June NNP 1 CD , , 1987 CD : :
Sweden NNP 's POS National NNP Audit NNP Bureau NNP releases VBZ its PRP$ report NN confirming VBG payment NN of IN about IN $ $ 40 CD million CD  to TO unidentified JJ Indians NNPS . .
The DT report NN says VBZ that IN investigations NNS were VBD severely RB hampered VBN  by IN lack NN of IN cooperation NN from IN Bofors NNP . .
Bofors NNP says VBZ  it PRP ca MD n't RB disclose VB the DT names NNS of IN the DT middlemen NNS because IN it PRP would MD jeopardize VB industrial JJ confidentiality NN . .
A DT portion NN of IN the DT report NN containing VBG names NNS of IN the DT middlemen NNS is VBZ withheld VBN  by IN officials NNS   citing VBG bank NN secrecy NN requirements NNS . .
Aug. NNP 6 CD , , 1987 CD : :
Prime NNP Minister NNP Gandhi NNP tells VBZ the DT Indian NNP Parliament NNP , , `` `` ... : neither CC I PRP nor CC any DT member NN of IN my PRP$ family NN has VBZ received VBN any DT consideration NN in IN these DT transactions NNS . .
That DT is VBZ the DT truth NN . . '' ''
Aug. NNP 26 CD , , 1987 CD : :
Bofors NNP admits VBZ payments NNS of IN $ $ 41 CD million CD  to TO middlemen NNS . .
April NNP 22 CD , , 1988 CD : :
The DT Hindu NNP newspaper NN publishes VBZ facsimiles NNS of IN bank NN documents NNS for IN foreign-exchange JJ remittances NNS and CC letters NNS between IN Bofors NNP and CC certain JJ private JJ companies NNS related VBN to TO the DT sale NN of IN the DT guns NNS to TO India NNP . .
April NNP 26 CD , , 1988 CD : :
A DT parliamentary JJ investigative JJ committee NN dominated VBN  by IN the DT Congress NNP -LRB- -LRB- I NN -RRB- -RRB- Party NNP concludes VBZ that IN there EX were VBD no DT middlemen NNS in IN the DT deal NN and CC no DT payment NN to TO any DT Indian JJ individual NN or CC company NN . .
July NNP 18 CD , , 1989 CD : :
The DT comptroller NN and CC auditor-general NN of IN India NNP reports VBZ serious JJ lapses NNS in IN the DT government NN 's POS technical JJ and CC financial JJ evaluation NN of IN the DT Bofors NNP deal NN . .
Sept. NNP 15 CD , , 1989 CD : :
Retired VBN army NN Chief NNP of IN Staff NNP Krishnaswami NNP Sundarji NNP discloses VBZ in IN an DT interview NN that IN he PRP suggested VBD in IN May NNP 1987 CD that IN the DT government NN cancel VB the DT Bofors NNP contract NN . .
According VBG to TO Gen. NNP Sundarji NNP , , that WDT would MD have VB forced VBN Bofors NNP  to TO disclose VB the DT names NNS of IN the DT middlemen NNS who WP  received VBD kickbacks NNS from IN the DT company NN . .
His PRP$ recommendation NN was VBD rejected VBN  by IN the DT government NN . .
Oct. NNP 9. CD 1989 CD : :
The DT Hindu NNP newspaper NN publishes VBZ the DT withheld VBN portion NN of IN the DT Swedish NNP National NNP Audit NNP Bureau NNP 's POS report NN . .
The DT disclosures NNS state NN that IN commissions NNS were VBD paid VBN  by IN Bofors NNP to TO an DT Indian JJ agent NN of IN the DT arms NNS company NN . .
Parsow NNP Partnership NNP Ltd. NNP and CC Elkhorn NNP Partners NNPS L.P. NNP said VBD  they PRP may MD seek VB proposals NNS from IN third JJ parties NNS relating VBG to TO a DT sale NN or CC restructuring VBG of IN CACI NNP International NNP Inc NNP . .
In IN a DT filing NN with IN the DT Securities NNPS and CC Exchange NNP Commission NNP , , Parsow NNP and CC Elkhorn NNP , , which WDT  together RB hold VBP 8.685 CD % NN of IN CACI NNP 's POS common JJ shares NNS , , said VBD  they PRP think VBP  it PRP  is VBZ in IN the DT best JJS interest NN of IN CACI NNP stockholders NNS that IN the DT company NN be VB sold VBN  . .
CACI NNP , , based VBN  in IN Arlington NNP , , Va. NNP , , said VBD  it PRP had VBD n't RB seen VBN the DT filing NN by IN Parsow NNP and CC Elkhorn NNP and CC therefore RB had VBD no DT comment NN . .
The DT partnerships NNS said VBD  they PRP may MD seek VB board NN representation NN , , and CC they PRP may MD seek VB the DT support NN of IN CACI NNP 's POS board NN and CC other JJ major JJ shareholders NNS in IN connection NN with IN their PRP$ plans NNS . .
According VBG to TO the DT filing NN , , Parsow NNP and CC Elkhorn NNP are VBP based VBN in IN Elkhorn NNP , , Neb. NNP , , and CC are VBP controlled VBN by IN the DT same JJ general JJ partner NN , , Alan NNP S. NNP Parsow NNP . .
Their PRP$ combined VBN stake NN consists VBZ of IN 880,500 CD CACI NNP common JJ shares NNS , , including VBG 86,500 CD shares NNS bought VBN  in IN the DT past JJ 60 CD days NNS at IN $ $ 2.3125 CD to TO $ $ 2.4375 CD  a DT share NN . .
Additional JJ shares NNS may MD be VB bought VBN or CC sold VBN  in IN the DT open JJ market NN , , in IN private JJ transactions NNS or CC otherwise RB , , depending VBG on IN market NN conditions NNS and CC other JJ factors NNS . .
The DT inverse NN trading NN relationship NN between IN bonds NNS and CC stocks NNS was VBD interrupted VBN  yesterday NN as IN bonds NNS fell VBD despite IN a DT modest JJ decline NN in IN stock NN prices NNS . .
But CC bond NN investors NNS continue VBP  to TO keep VB a DT close JJ watch NN on IN the DT jittery JJ stock NN market NN . .
In IN early JJ trading NN , , investors NNS were VBD bidding VBG bond NN prices NNS higher JJR as IN stocks NNS tumbled VBD and CC fears NNS  mounted VBD that IN Friday NNP 's POS stock NN market NN debacle NN would MD be VB repeated VBN  . .
But CC a DT partial JJ recovery NN in IN the DT Dow NNP Jones NNP Industrial NNP Average NNP , , which WDT  had VBD been VBN down IN more RBR than IN 60 CD points NNS in IN midmorning NN , , dashed VBD those DT expectations NNS . .
Treasury NN bonds NNS also RB were VBD hurt VBN  late RB in IN the DT day NN by IN a DT $ $ 4 CD billion CD  offering NN by IN the DT Tennessee NNP Valley NNP Authority NNP and CC the DT prospect NN of IN a DT huge JJ amount NN of IN new JJ agency NN debt NN . .
`` `` Bond NN investors NNS were VBD hoping VBG that IN stock NN prices NNS would MD continue VB  to TO fall VB , , '' '' said VBD  Roger NNP Early RB , , a DT vice NN president NN at IN Federated NNP Investors NNPS Inc. NNP , , Pittsburgh NNP . .
`` `` When WRB stocks NNS stabilized VBD  , , that DT was VBD a DT disappointment NN . . '' ''
Meanwhile RB , , for IN the DT second JJ straight JJ day NN , , the DT bond NN market NN paid VBD little JJ attention NN to TO the DT Federal NNP Reserve NNP 's POS open JJ market NN operations NNS . .
Fed NNP officials NNS injected VBD more JJR cash NN into IN the DT banking NN system NN by IN  arranging VBG $ $ 1.5 CD billion CD  of IN repurchase VBN agreements NNS during IN the DT usual JJ pre-noon NN intervention NN period NN . .
The DT move NN was VBD meant VBN  to TO keep VB a DT lid NN on IN interest NN rates NNS and CC to TO boost VB investor NN confidence NN . .
`` `` The DT intervention NN has VBZ been VBN friendly JJ , ,  meaning VBG that IN they PRP really RB did VBD n't RB have VB  to TO do VB it PRP , , '' '' said VBD  Maria NNP Fiorini NNP Ramirez NNP , , money-market NN economist NN at IN Drexel NNP Burnham NNP Lambert NNP Inc NNP . .
She PRP said VBD  a DT more RBR aggressive JJ move NN was VBD n't RB needed VBN  . .
The DT Fed NNP also RB appears VBZ reluctant JJ  to TO ease VB credit NN conditions NNS further RB . .
It PRP already RB has VBZ allowed VBN the DT closely RB watched VBN federal JJ funds NNS rate NN to TO decline VB 1\/4 CD percentage NN point NN to TO about IN 8 CD 3\/4 CD % NN from IN its PRP$ previous JJ target NN level NN of IN about IN 9 CD % NN . .
The DT rate NN , , which WDT banks NNS charge VBP  each DT other JJ on IN overnight JJ loans NNS , , is VBZ considered VBN  an DT early JJ signal NN of IN changes NNS in IN Fed NNP policy NN . .
It PRP ended VBD at IN about IN 8 CD 11\/16 CD % NN yesterday NN , , but CC was VBD as RB low JJ as IN 8 CD 1\/2 CD % NN Monday NNP . .
The DT Treasury NNP 's POS benchmark NN 30-year JJ bond NN fell VBD more JJR than IN 1\/2 CD point NN , , or CC over IN $ $ 5 CD  for IN each DT $ $ 1,000 CD  face NN amount NN , , while IN the DT yield NN moved VBD above IN 8 CD % NN for IN the DT first JJ time NN since IN Thursday NNP . .
Investment-grade JJ corporate JJ , , municipal JJ and CC mortgage-backed JJ securities NNS also RB fell VBD . .
But CC most JJS junk NN bonds NNS closed VBD unchanged JJ after IN  opening VBG slightly RB higher JJR on IN bargain-hunting NN by IN institutional JJ investors NNS . .
Some DT so-called JJ high-quality NN junk NN issues NNS , , such JJ as IN R.H. NNP Macy NNP & CC Co. NNP 's POS 14 CD 1\/2 CD % NN subordinated VBN debentures NNS , , rose VBD . .
The DT Macy NNP 's POS issue NN closed VBD up RB about IN one CD point NN at IN a DT bid NN price NN of IN 97 CD . .
The DT TVA NNP 's POS public JJ debt NN offering VBG was VBD its PRP$ first JJ in IN 15 CD years NNS . .
Strong JJ investor NN demand NN prompted VBD it PRP  to TO boost VB the DT size NN of IN the DT issue NN from IN $ $ 3 CD billion CD  . .
Traders NNS said VBD  hedging VBG related VBN  to TO the DT TVA NNP pricing NN also RB pressured VBD Treasury NN bonds NNS . .
`` `` Underwriters NNS of IN the DT TVA NNP bonds NNS reduced VBD their PRP$ market NN risk NN by IN  selling VBG Treasurys NNS  to TO cover VB at IN least JJS part NN of IN their PRP$ -LCB- -LRB- TVA NNP -RCB- -RRB- holdings NNS , , '' '' said VBD  James NNP R. NNP Capra NNP , , a DT senior JJ vice NN president NN at IN Shearson NNP Lehman NNP Government NNP Securities NNPS Inc NNP . .
The DT TVA NNP bonds NNS also RB `` `` served VBD  to TO remind VB the DT market NN that IN there EX will MD be VB even RB more RBR new JJ supply NN , , '' '' said VBD  Lawrence NNP N. NNP Leuzzi NNP , , a DT managing VBG director NN at IN S.G. NNP Warburg NNP Securities NNPS & CC Co NNP . .
Today NN the DT Treasury NNP will MD announce VB the DT size NN of IN its PRP$ next JJ two-year JJ note NN sale NN and CC Resolution NNP Funding NNP Corp. NNP will MD announce VB details NNS of IN its PRP$ first JJ bond NN offering NN . .
Some DT traders NNS estimate VBP  $ $ 9.75 CD billion CD  of IN new JJ two-year JJ Treasurys NNS will MD be VB sold VBN  next JJ week NN , , and CC they PRP expect VBP Refcorp NNP to TO offer VB $ $ 4 CD billion CD to TO $ $ 6 CD billion CD  of IN long-term JJ `` `` bailout NN '' '' bonds NNS . .
Refcorp NNP was VBD created VBN   to TO help VB fund VB the DT thrift NN bailout NN . .
Another DT agency NN issue NN came VBD to TO market NN yesterday NN . .
The DT Office NNP of IN Finance NNP of IN the DT Federal NNP Home NNP Loan NNP Banks NNPS said VBD  it PRP priced VBD a DT four-part JJ $ $ 2.27 CD billion CD  bond NN offering VBG  for IN the DT banks NNS to TO yield VB from IN 8.125 CD % NN to TO 8.375 CD % NN  . .
The DT release NN of IN several JJ economic JJ reports NNS  had VBD little JJ impact NN on IN the DT market NN , , including VBG a DT report NN that IN the DT U.S. NNP trade NN deficit NN expanded VBN to TO a DT surprisingly RB wide JJ $ $ 10.77 CD billion CD  in IN August NNP , , up IN from IN a DT revised VBN $ $ 8.24 CD billion CD  in IN July NNP . .
The DT August NNP gap NN was VBD expected VBN  to TO have VB expanded VBN to TO $ $ 9.1 CD billion CD  . .
Treasury NNP Securities NNPS
Treasury NN securities NNS were VBD essentially RB flat JJ to TO about IN 1\/2 CD point NN lower JJR . .
The DT benchmark NN 30-year JJ bond NN was VBD quoted VBN  late RB at IN 100 CD 28\/32 CD  to TO yield VB 8.04 CD % NN , , compared VBN with IN 101 CD 19\/32 CD  to TO yield VB 7.97 CD % NN Monday NNP . .
The DT latest JJS 10-year JJ notes NNS were VBD quoted VBN  late RB at IN 99 CD 25\/32 CD  to TO yield VB 8.01 CD % NN , , compared VBN with IN 100 CD 1\/32 CD  to TO yield VB 7.97 CD % NN . .
Short-term JJ rates NNS increased VBD . .
The DT discount NN rate NN on IN three-month JJ bills NNS rose VBD to TO 7.52 CD % NN for IN a DT bond-equivalent JJ yield NN of IN 7.75 CD % NN . .
The DT rate NN on IN six-month JJ bills NNS rose VBD to TO 7.53 CD % NN for IN a DT bond-equivalent JJ yield NN of IN 7.92 CD % NN . .
Corporate NNP , , Other NNP Issues NNPS
Investment-grade JJ corporate JJ bonds NNS ended VBD 1\/4 CD to TO 1\/2 CD point NN lower JJR , , while IN most JJS junk NN bonds NNS ended VBD unchanged JJ . .
The DT TVA NNP 's POS huge JJ $ $ 4 CD billion CD  offering NN dominated VBD attention NN in IN the DT new-issue JJ market NN . .
TVA NNP offered VBD $ $ 2 CD billion CD  of IN 30-year JJ bonds NNS priced VBN  to TO yield VB 9.06 CD % NN ; : $ $ 1 CD billion CD  in IN 10-year JJ notes NNS priced VBN  to TO yield VB 8.42 CD % NN ; : and CC $ $ 1 CD billion CD  in IN five-year JJ notes NNS priced VBN  to TO yield VB 8.33 CD % NN . .
The DT TVA NNP , , which WDT  operates VBZ one CD of IN the DT nation NN 's POS largest JJS electric JJ power NN systems NNS , , is VBZ a DT corporation NN wholly RB owned VBN by IN the DT U.S. NNP government NN . .
Yesterday NN 's POS bond NN sale NN was VBD part NN of IN a DT $ $ 6.7 CD billion CD  refinancing VBG plan NN  to TO pay VB off RP high-interest JJ debt NN  the DT TVA NNP owes VBZ the DT Federal NNP Financing NNP Bank NNP , , an DT arm NN of IN the DT Treasury NN  . .
Meanwhile RB , , Lockheed NNP Corp. NNP priced VBD a DT $ $ 300 CD million CD  note NN offering VBG  to TO yield VB 9.39 CD % NN . .
Mortgage-Backed NNP Securities NNPS
The DT derivative JJ mortgage-backed JJ market NN revived VBD after IN a DT brief JJ hiatus NN as IN two CD new JJ Remics NNS totaling VBG $ $ 850 CD million CD  were VBD offered VBN  and CC talk NN  circulated VBD about IN two CD more JJR issues NNS that WDT  could MD be VB priced VBN  today NN . .
The DT revival NN of IN the DT real JJ estate NN mortgage NN investment NN conduit NN market NN reflected VBD the DT relative JJ calm NN in IN the DT mortgage NN market NN after IN two CD days NNS of IN volatile JJ trading NN . .
Dealers NNS noted VBD that IN it PRP  's VBZ difficult JJ  to TO structure VB new JJ Remics NNS when WRB prices NNS are VBP moving VBG widely RB  . .
The DT two CD Remics NNS priced VBN  were VBD a DT $ $ 500 CD million CD  Federal NNP Home NNP Loan NNP Mortgage NNP Corp. NNP issue NN underwritten VBN  by IN Salomon NNP Brothers NNPS Inc. NNP and CC a DT $ $ 350 CD million CD  Federal NNP National NNP Mortgage NNP Association NNP deal NN underwritten VBN  by IN Greenwich NNP Capital NNP Markets NNPS . .
The DT Remic NNP issuance NN supported VBD prices NNS of IN Freddie NNP Mac NNP and CC Fannie NNP Mae NNP securities NNS , , which WDT  held VBD up RP better RB than IN Government NNP National NNP Mortgage NNP Association NNP securities NNS during IN an DT afternoon NN sell-off NN . .
Ginnie NNP Mae NNP 9 CD % NN securities NNS for IN November NNP delivery NN ended VBD at IN 97 CD 29\/32 CD , , down IN 7\/32 CD ; : 9 CD 1\/2 CD % NN securities NNS at IN 99 CD 31\/32 CD , , down IN 6\/32 CD ; : and CC 10 CD % JJ securities NNS at IN 101 CD 29\/32 CD , , down IN 5\/32 CD . .
Freddie NNP Mac NNP 9 CD % NN securities NNS were VBD at IN 97 CD 5\/32 CD , , down IN 3\/32 CD . .
The DT Ginnie NNP Mae NNP 9 CD % NN issue NN was VBD yielding VBG 9.43 CD % NN to TO a DT 12-year JJ average NN life NN assumption NN , , as IN the DT spread NN above IN the DT Treasury NN 10-year JJ note NN held VBN at IN 1.42 CD percentage NN points NNS . .
Municipals NNS
Confusion NN over IN the DT near-term JJ trend NN for IN rates NNS dominated VBD the DT municipal JJ arena NN , , as IN gyrations NNS in IN the DT stock NN market NN continued VBD  to TO buffet VB bonds NNS . .
Long JJ tax-exempt JJ dollar NN bonds NNS were VBD mostly RB flat JJ to TO 3\/8 CD point NN lower JJR after IN a DT whipsaw NN session NN of IN  moving VBG inversely RB to TO stocks NNS in IN modest JJ dealer-led JJ trading NN . .
Prices NNS of IN pre-refunded JJ municipal JJ bonds NNS were VBD capped VBN  by IN news NN that IN Chemical NNP Securities NNPS Inc. NNP , , as IN agent NN for IN a DT customer NN , , will MD accept VB bids NNS today NN for IN two CD large JJ lists NNS of IN bonds NNS that WDT  include VBP many JJ such JJ issues NNS . .
The DT lists NNS total VBP $ $ 654.5 CD million CD  . .
Pre-refunded JJ bonds NNS are VBP called VBN  at IN their PRP$ earliest JJS call NN date NN with IN the DT escrowed VBN proceeds NNS of IN another DT bond NN issue NN . .
Meanwhile RB , , several JJ new JJ issues NNS were VBD priced VBN  . .
Underwriters NNS led VBN  by IN PaineWebber NNP Inc. NNP set VBD preliminary JJ pricing NN for IN $ $ 144.4 CD million CD  of IN California NNP Health NNP Facilities NNPS Financing NNP Authority NNP revenue NN bonds NNS for IN Kaiser NNP Permanente NNP . .
Tentative JJ reoffering NN yields NNS were VBD set VBN  from IN 6.25 CD % NN in IN 1993 CD to TO 7.227 CD % NN in IN 2018 CD . .
As IN part NN of IN its PRP$ College NNP Savings NNP Plan NNP , , Connecticut NNP offered VBD $ $ 100.4 CD million CD  of IN general JJ obligation NN capital NN appreciation NN bonds NNS priced VBN  to TO yield VB to TO maturity NN from IN 6.25 CD % NN in IN 1994 CD to TO 6.90 CD % NN in IN 2006 CD , , 2007 CD and CC 2009 CD . .
A DT Chemical NNP Securities NNPS group NN won VBD a DT $ $ 100 CD million CD  Oregon NNP general JJ obligation NN veterans NNS ' POS tax NN note NN issue NN due JJ Nov. NNP 1 CD , , 1990 CD . .
The DT 6 CD 3\/4 CD % NN notes NNS yield VBP 6.25 CD % NN . .
Foreign NNP Bonds NNPS
West NNP German NNP government NN bond NN prices NNS took VBD a DT wild JJ roller-coaster NN ride NN , ,  pulled VBD down IN by IN Monday NNP 's POS U.S. NNP stock NN market NN gains NNS then RB up IN by IN a DT wider-than-expected JJ U.S. NNP trade NN deficit NN and CC falling VBG U.S. NNP stock NN prices NNS . .
West NNP Germany NNP 's POS 7 CD % NN bond NN due JJ October NNP 1999 CD was VBD at IN 99.95 CD late JJ yesterday NN , , off IN 0.10 CD point NN from IN Monday NNP , ,  to TO yield VB 7.01 CD % NN . .
The DT 6 CD 3\/4 CD % NN notes NNS due JJ April NNP 1994 CD were VBD up IN 0.10 CD point NN to TO 97.85 CD  to TO yield VB 7.31 CD % NN . .
British JJ government NN bonds NNS surged VBD on RP renewed VBN volatility NN in IN the DT stock NN market NN . .
The DT Treasury NNP 11 CD 3\/4 CD % NN bond NN due JJ 2003\/2007 CD rose VBD 23\/32 CD to TO 112 CD 10\/32 CD  to TO yield VB 10.03 CD % NN . .
But CC Japanese JJ bonds NNS ended VBD weaker JJR . .
The DT benchmark NN No. NN 111 CD 4.6 CD % NN bond NN due JJ 1998 CD ended VBD on IN brokers NNS ' POS screens NNS at IN a DT price NN of IN 96 CD , , off IN 0.15 CD point NN  to TO yield VB 5.27 CD % NN . .
A DT House-Senate NNP conference NN approved VBD an DT estimated VBN $ $ 67 CD billion CD  fiscal JJ 1990 CD spending NN bill NN that WDT  provides VBZ a DT 28 CD % NN increase NN for IN space NN research NN and CC development NN and CC incorporates VBZ far-reaching JJ provisions NNS affecting VBG the DT federal JJ mortgage NN market NN . .
The DT current JJ ceiling NN on IN home NN loans NNS insured VBN  by IN the DT Federal NNP Housing NNP Administration NNP would MD be VB increased VBN  to TO $ $ 124,875 CD  . .
Separately RB , , the DT bill NN gives VBZ authority NN  to TO the DT Bush NNP administration NN  to TO facilitate VB the DT refinancing NN of IN federally RB subsidized VBN loans NNS for IN low-income NN and CC moderate-income NN homeowners NNS . .
The DT second JJ provision NN , , affecting VBG so-called JJ 235 CD mortgages NNS , , has VBZ met VBN strong JJ opposition NN from IN investment NN bankers NNS represented VBN  by IN the DT Public NNP Securities NNPS Association NNP . .
And CC a DT squad NN of IN influential JJ former JJ Senate NNP aides NNS employed VBN  by IN the DT Wall NNP Street NNP firm NN Salomon NNP Brothers NNPS came VBD to TO the DT Capitol NN in IN a DT vain JJ attempt NN  to TO strip VB the DT provision NN . .
By IN an DT 11-2 CD margin NN , , Senate NNP negotiators NNS voted VBD  to TO preserve VB the DT 235 CD mortgage NN refinancing NN plan NN , , and CC despite IN powerful JJ allies NNS , , the DT opposition NN found VBD itself PRP undercut JJ by IN an DT unusual JJ alliance NN of IN liberals NNS and CC conservatives NNS . .
The DT government NN currently RB is VBZ subsidizing VBG an DT estimated VBN 23,000 CD loans NNS above IN 11 CD % NN under IN the DT 235 CD program NN , , and CC however RB disruptive JJ to TO private JJ investors NNS , , the DT refinancing VBG is VBZ expected VBN  to TO yield VB at IN least JJS $ $ 15 CD million CD  in IN savings NNS in IN fiscal JJ 1990 CD . .
This DT sum NN has VBZ been VBN guarded VBN  jealously RB by IN appropriators NNS anxious JJ  to TO offset VB spending VBG elsewhere RB , , and CC conservative JJ Sen. NNP Phil NNP Gramm NNP cast VBD the DT fight NN as IN a DT populist JJ stand NN against IN monied JJ interests NNS . .
`` `` We PRP are VBP stewards NNS here RB , , not RB of IN the DT mortgage NN companies NNS , , but CC the DT taxpayers NNS , , '' '' said VBD  the DT Texas NNP Republican NNP . .
The DT action NN came VBD as IN the DT administration NN won VBD final JJ congressional JJ approval NN of IN $ $ 9 CD million CD  in IN assistance NN for IN elections NNS scheduled VBN  in IN Nicaragua NNP in IN February NNP . .
The DT bulk NN of IN the DT money NN would MD be VB funneled VBN  through IN the DT National NNP Endowment NNP for IN Democracy NNP , , but CC the DT legislation NN is VBZ so RB vaguely RB written VBN that IN it PRP has VBZ been VBN dogged VBN  by IN questions NNS regarding VBG the DT money NN 's POS true JJ purpose NN and CC its PRP$ ultimate JJ destination NN . .
The DT Senate NNP had VBD refused VBN late JJ Friday NNP  to TO invoke VB cloture NN and CC limit VB debate NN , , but CC behind IN the DT bipartisan JJ leadership NN , , a DT solid JJ majority NN took VBD shape NN yesterday NN and CC brushed VBD aside RB amendments NNS seeking VBG  to TO cut VB the DT total JJ package NN or CC steer VB it PRP away RB from IN direct JJ aid NN to TO political JJ parties NNS . .
Final JJ approval NN -- : on IN a DT 64-35 CD roll NN call NN -- : was VBD never RB in IN doubt NN , , but CC the DT opposition NN drew VBD an DT unusual JJ mix NN of IN senators NNS , , including VBG Republicans NNPS Jesse NNP Helms NNP and CC Warren NNP Rudman NNP and CC Democrats NNPS Bill NNP Bradley NNP and CC John NNP Glenn NNP . .
The DT money NN will MD be VB applied VBN  for IN voter NN registration NN and CC election NN monitoring NN , , but CC more RBR than IN half DT is VBZ likely JJ  to TO go VB to TO the DT Union NNP Nacional NNP Opositora NNP party NN . .
Critics NNS warned VBD  such JJ cash NN contributions NNS may MD only RB undercut VB the DT opposition NN party NN 's POS standing NN , , and CC one CD irony NN is VBZ that DT under IN Nicaraguan JJ law NN a DT major JJ portion NN of IN the DT opposition NN party NN 's POS funds NNS must MD be VB shared VBN  with IN the DT government NN 's POS Supreme NNP Electoral NNP Council NNP . .
Within IN the DT appropriations NNS conference NN yesterday NN , , the DT $ $ 67 CD billion CD  measure NN is VBZ the DT second RB largest JJS of IN the DT annual JJ domestic JJ spending NN bills NNS and CC covers VBZ a DT disparate JJ collection NN of IN accounts NNS for IN science NN , , housing NN , , veterans NNS and CC the DT environment NN . .
The DT decision NN  to TO raise VB the DT ceiling NN on IN FHA NNP home NN loans NNS still RB faces VBZ strong JJ opposition NN in IN the DT House NN . .
But CC it PRP is VBZ driven VBN  by IN the DT same JJ fiscal JJ pressures NNS that WDT  have VBP forced VBN lawmakers NNS to TO resort VB to TO various JJ bookkeeping NN devices NNS  to TO juggle VB as RB much RB as IN $ $ 1 CD billion CD  in IN spending NN that WDT  would MD otherwise RB put VB the DT bill NN over IN budget NN . .
These DT costs NNS will MD complicate VB the DT budget NN picture NN in IN fiscal JJ 1991 CD , , and CC the DT measure NN further RB commits VBZ Congress NNP to TO a DT set NN of IN costly JJ projects NNS , , including VBG the DT first JJ construction NN funds NNS for IN the DT space NN station NN . .
The DT station NN is VBZ promised VBN  $ $ 1.8 CD billion CD  within IN the DT $ $ 5.36 CD billion CD  provided VBN  for IN research NN and CC development NN in IN the DT National NNP Aeronautics NNP and CC Space NNP Administration NNP , , and CC the DT nation NN 's POS high-speed JJ aerospace NN plane NN -- : cut VBN  by IN the DT Senate NNP -- : could MD receive VB as RB much RB as IN $ $ 60 CD million CD  in IN new JJ funds NNS or CC transfers NNS . .
Similarly RB , , the DT House NNP agreed VBD  to TO add VB back RB $ $ 62 CD million CD   to TO continue VB work NN on IN the DT advanced VBN communications NNS technology NN satellite NN , , being VBG developed VBN by IN General NNP Electric NNP Co NNP . .
And CC while IN  setting VBG a DT statutory JJ limit NN of IN $ $ 1.6 CD billion CD  on IN the DT automated VBN space NN probe NN , , the DT conference NN appropriated VBD $ $ 30 CD million CD  for IN the DT start-up NN of IN the DT CRAF-Cassini NNP mission NN , , a DT successor NN to TO the DT Voyager NNP space NN probe NN . .
Among IN major JJ domestic JJ agencies NNS , , the DT Environmental NNP Protection NNP Agency NNP stands VBZ  to TO receive VB increases NNS significantly RB beyond IN those DT sought VBN  by IN the DT administration NN , , with IN pollution NN abatement NN and CC control NN accounts NNS growing VBG by IN 14 CD % NN to TO about IN $ $ 829.9 CD million CD  . .
An DT estimated VBN $ $ 1.57 CD billion CD  is VBZ separately RB allocated VBN for IN the DT National NNP Science NNP Foundation NNP , , and CC within IN the DT Housing NNP and CC Urban NNP Development NNP Department NNP , , more JJR than IN $ $ 9.2 CD billion CD  is VBZ provided VBN  for IN federally RB assisted VBN housing NN , , including VBG an DT expanded VBN effort NN  to TO modernize VB public JJ housing NN units NNS that WDT  serve VBP the DT poorest JJS families NNS . .
To TO an DT unusual JJ degree NN , , the DT massive JJ bill NN has VBZ become VBN a DT vehicle NN  for IN lawmakers NNS to TO earmark VB funds NNS for IN projects NNS in IN home NN states NNS  . .
While IN the DT practice NN was VBD discouraged VBN  in IN the DT past NN , , the DT conference NN agreement NN is VBZ laced VBN  with IN veterans NNS ' POS hospitals NNS , , environmental JJ projects NNS and CC urban JJ grants NNS designated VBN  for IN specific JJ communities NNS . .
The DT most RBS striking JJ example NN yesterday NN may MD have VB been VBN in IN community NN development NN funds NNS , , where WRB the DT two CD houses NNS had VBD separately RB approved VBN a DT total NN of IN 27 CD projects NNS valued VBN  at IN $ $ 20 CD million CD  , , and CC the DT conference NN added VBN 15 CD more RBR valued VBN  at IN $ $ 8 CD million CD   to TO ostensibly RB preserve VB `` `` balance NN '' '' between IN the DT House NNP and CC Senate NNP  . .
Yesterday NN 's POS conference NN agreement NN is VBZ the DT second JJ major JJ bill NN   to TO emerge VB from IN negotiations NNS this DT week NN , , as IN appropriators NNS approved VBD a DT fiscal JJ 1990 CD transportation NN bill NN late JJ Monday NNP that WDT  includes VBZ a DT sweeping VBG ban NN on IN  smoking VBG on IN most JJS domestic JJ airline NN flights NNS . .
An DT exemption NN will MD remain VB for IN flights NNS longer JJR than IN six CD hours NNS to TO Hawaii NNP and CC Alaska NNP , , but CC estimates NNS by IN the DT tobacco NN industry NN yesterday NN indicate VBP  all DT but CC about IN 30 CD flights NNS would MD be VB covered VBN  . .
Separately RB , , a DT third JJ conference NN report NN covering VBG an DT $ $ 18.4 CD billion CD  Treasury NNP and CC Postal NNP Service NNP bill NN was VBD sent VBN  to TO the DT Senate NNP after IN  passing VBG the DT House NNP on IN a DT 383-30 CD roll NN call NN yesterday NN . .
And CC after IN weeks NNS of IN delay NN , , the DT appropriations NNS process NN is VBZ beginning VBG  to TO take VB some DT final JJ shape NN . .
Defense NN and CC foreign JJ aid NN are VBP the DT two CD most RBS critical JJ areas NNS remaining VBG from IN the DT administration NN 's POS standpoint NN . .
And CC among IN domestic JJ programs NNS , , the DT most RBS serious JJ threat NN is VBZ White NNP House NNP opposition NN to TO abortion NN riders NNS attached VBD to TO separate JJ bills NNS funding VBG the DT District NNP of IN Columbia NNP and CC Department NNP of IN Health NNP and CC Human NNP Services NNPS . .
The DT same JJ issue NN threatens VBZ  to TO spill VB over RP to TO the DT foreign JJ aid NN debate NN , , and CC Mr. NNP Bush NNP also RB is VBZ threatening VBG  to TO veto VB any DT agreement NN that WDT  preserves VBZ Senate-passed JJ provisions NNS renewing VBG U.S. NNP support NN for IN the DT United NNP Nations NNPS Fund NNP for IN Population NNP Activities NNPS . .
In IN a DT sharply RB written VBN letter NN , , Rep. NNP David NNP Obey NNP , , chairman NN of IN the DT House NN appropriations NNS subcommittee NN for IN foreign JJ operations NNS , , warned VBD Mr. NNP Bush NNP that IN the DT result NN of IN his PRP$ `` `` ultimatum NN '' '' could MD weaken VB efforts NNS  to TO accommodate VB the DT administration NN elsewhere RB . .
`` `` As IN a DT result NN of IN your PRP$ ultimatum NN , , '' '' writes VBZ  the DT Wisconsin NNP Democrat NNP , , `` `` I PRP guess VBP  there EX is VBZ no DT longer RB any DT point NN in IN  taking VBG administration NN views NNS into IN account NN on IN other JJ items NNS in IN conference NN , , inasmuch RB regardless RB of IN their PRP$ resolution NN you PRP apparently RB intend VBP  to TO veto VB this DT bill NN . .
Markets NNS usually RB get VBP  noticed VBN because IN they PRP soar VBP or CC plunge VBP . .
Gold NN , , which WDT  has VBZ n't RB risen VBN or CC fallen VBN significantly RB in IN quite RB some DT time NN , , yesterday NN achieved VBD what WP  may MD be VB a DT new JJ level NN of IN impassiveness NN : : The DT most RBS actively RB traded VBN futures NNS contracts NNS closed VBD unchanged JJ despite IN nervous JJ fluctuations NNS in IN both PDT the DT dollar NN and CC the DT stock NN market NN . .
The DT settlement NN prices NNS of IN the DT December NNP , , February NNP and CC April NNP gold NN contracts NNS were VBD even RB with IN Monday NNP 's POS final JJ prices NNS . .
The DT December NNP 1989 CD contract NN , , which WDT  has VBZ the DT greatest JJS trading NN volume NN , , ended VBD at IN $ $ 371.20 CD  an DT ounce NN . .
The DT other JJ months NNS posted VBD advances NNS of IN 10 CD cents NNS to TO 20 CD cents NNS an DT ounce NN . .
According VBG to TO one CD analyst NN , , Bernard NNP Savaiko NNP of IN PaineWebber NNP , , New NNP York NNP , , the DT stock NN market NN 's POS ability NN  on IN Monday NNP  to TO rally VB from IN last JJ Friday NNP 's POS decline NN -- : which WDT  seemed VBD  to TO indicate VB that IN the DT economy NN was VBD n't RB going VBG  to TO fall VB either DT -- : took VBD the DT starch NN out IN of IN precious JJ metals NNS prices NNS , , and CC out IN of IN gold NN 's POS , , in IN particular NN . .
Yesterday NN , , gold NN traded VBD within IN a DT narrow JJ range NN . .
Gold NN tried VBD  to TO rally VB on IN Monday NNP but CC ran VBD into IN the DT same JJ situation NN that WDT  has VBZ subdued VBN gold JJ prices NNS for IN more JJR than IN a DT year NN : :  selling VBG by IN gold JJ producers NNS , , who WP  want VBP  to TO fix VB the DT highest JJS possible JJ price NN for IN their PRP$ gold NN . .
`` `` December NNP delivery NN gold NN is VBZ trading VBG in IN a DT range NN of IN $ $ 365 CD to TO $ $ 375 CD  -LCB- -LRB- an DT ounce NN -RCB- -RRB- and CC is VBZ having VBG difficulty NN  breaking VBG out RP above IN that DT , , '' '' Mr. NNP Savaiko NNP said VBD  . .
`` `` Producers NNS at IN the DT moment NN regard NN that DT area NN a DT good JJ one CD in IN which WDT  to TO sell VB gold NN  . . '' ''
Also RB , , Mr. NNP Savaiko NNP noted VBD  , , stock NN market NN investors NNS seeking VBG greater JJR safety NN are VBP veering VBG toward IN  buying VBG bonds NNS rather RB than IN precious JJ metals NNS because IN `` `` we PRP are VBP tending VBG more RBR toward IN a DT disinflationary JJ economy NN that WDT  does VBZ n't RB make VB gold NN and CC precious JJ metals NNS attractive JJ . . '' ''
Jeffrey NNP Nichols NNP , , president NN of IN APMS NNP Canada NNP , , Toronto NNP precious JJ metals NNS advisers NNS , , said VBD  there EX is VBZ little JJ   to TO motivate VB gold JJ traders NNS to TO buy VB the DT metal NN . .
`` `` Investors NNPS in IN the DT U.S. NNP and CC Europe NNP are VBP comfortable JJ with IN the DT actions NNS of IN the DT -LCB- -LRB- Federal NNP Reserve NNP -RCB- -RRB- in IN its PRP$ willingness NN  to TO supply VB liquidity NN to TO financial JJ system NN , , which WDT  helped VBD the DT stock NN market NN rebound NN on IN Monday NNP , , '' '' he PRP said VBD  . .
There EX is VBZ n't RB any DT rush NN on IN the DT part NN of IN investors NNS in IN the DT West NN  to TO buy VB gold NN , , he PRP said VBD   . .
`` `` They PRP still RB bear VBP the DT memory NN of IN October NNP 1987 CD , , when WRB they PRP bought VBD gold NN after IN the DT stock NN market NN crashed VBD and CC ended VBD up RP  losing VBG money NN because IN gold JJ prices NNS subsequently RB fell VBD  , , '' '' Mr. NNP Nichols NNP said VBD  . .
`` `` It PRP 's VBZ an DT experience NN  they PRP do VBP n't RB want VB  to TO repeat VB  . . '' ''
At IN the DT moment NN gold NN traders NNS are VBP n't RB concerned VBN about IN inflation NN , , he PRP said VBD  , , and CC as IN for IN the DT dollar NN , , `` `` gold NN 's POS association NN with IN the DT currency NN has VBZ been VBN diminishing VBG recently RB so IN drops NNS in IN the DT currency NN are VBP n't RB having VBG much JJ impact NN on IN gold NN . . '' ''
Dinsa NNP Mehta NNP , , chief NN bullion NN trader NN for IN Chase NNP Manhattan NNP Bank NNP , , said VBD : : `` `` There EX is VBZ little JJ incentive NN on IN the DT part NN of IN traders NNS   to TO sell VB gold NN  because IN the DT stock NN market NN may MD go VB lower JJR and CC gold NN may MD retain VB some DT of IN its PRP$ ` `` flight NN to TO safety NN ' '' quality NN . .
There EX is VBZ little RB incentive JJ   to TO buy VB gold NN  because IN if IN the DT stock NN market NN goes VBZ higher JJR , , it PRP may MD be VB just RB a DT false JJ alarm NN . .
This DT is VBZ keeping VBG the DT gold JJ traders NNS handcuffed VBN . . '' ''
The DT most RBS remarkable JJ feature NN about IN yesterday NN 's POS action NN was VBD that IN the DT price NN of IN roughly RB $ $ 370 CD  an DT ounce NN was VBD regarded VBN  as IN attractive JJ enough RB by IN gold JJ producers NNS around IN the DT world NN  to TO aggressively RB sell VB gold NN , , Mr. NNP Mehta NNP said VBD  . .
`` `` I PRP do VBP n't RB know VB what WP it PRP means VBZ  over IN the DT long JJ run NN , , but CC for IN the DT short JJ term NN , , it PRP appears VBZ that IN gold JJ producers NNS are VBP grateful JJ for IN the DT $ $ 10 CD  or CC so RB that DT gold NN has VBZ risen VBN  over IN the DT past JJ week NN or CC so RB , , '' '' he PRP said VBD  . .
Previously RB , , he PRP noted VBD  , , gold JJ producers NNS tended VBD  to TO back VB off RP from IN a DT rising VBG gold NN market NN , ,  letting VBG prices NNS rise VB as IN much RB as RB possible JJ before IN  selling VBG . .
Mr. NNP Mehta NNP observed VBD that IN the DT U.S. NNP merchandise NN trade NN deficit NN , , which WDT  rose VBD sharply RB in IN August NNP , , according VBG to TO yesterday NN 's POS report NN , , has VBZ been VBN having VBG less JJR and CC less JJR impact NN on IN the DT gold NN market NN . .
`` `` The DT dollar NN has VBZ n't RB reacted VBD much RB to TO it PRP , , so RB gold JJ has VBZ n't RB  either RB , , '' '' he PRP said VBD  . .
In IN other JJ commodity NN markets NNS yesterday NN : :
ENERGY NNP : :
Crude JJ oil NN prices NNS rose VBD slightly RB in IN lackluster JJ activity NN as IN traders NNS in IN the DT pits NNS tried VBD  to TO assess VB action NN in IN the DT stock NN market NN . .
Since IN stock NN market NN indexes NNS plummeted VBD last JJ Friday NNP , , participants NNS in IN all DT markets NNS have VBP been VBN wary JJ . .
When WRB traders NNS become VBP confident JJ that IN the DT stock NN market NN has VBZ stabilized VBN  , , oil NN prices NNS are VBP expected VBN  to TO rise VB as IN supply NN and CC demand NN fundamentals NNS once RB again RB become VBP the DT major JJ consideration NN . .
Crude JJ oil NN for IN November NNP delivery NN edged VBD up RP by IN 16 CD cents NNS a DT barrel NN to TO $ $ 20.75 CD  a DT barrel NN . .
Heating VBG oil NN prices NNS also RB rose VBD . .
November NNP gasoline NN slipped VBD slightly RB . .
SUGAR NNP : :
Futures NNS prices NNS rose VBD on IN a DT report NN that IN Cuba NNP may MD seek VB  to TO postpone VB some DT sugar NN shipments NNS . .
The DT March NNP contract NN advanced VBD 0.14 CD cent NN a DT pound NN to TO 14.11 CD cents NNS . .
According VBG to TO an DT analyst NN , , Cuba NNP ca MD n't RB meet VB all PDT its PRP$ shipment NN commitments NNS and CC has VBZ asked VBN Japan NNP  to TO accept VB a DT delay NN of IN shipments NNS scheduled VBN  for IN later RB this DT year NN , , into IN early JJ next JJ year NN . .
`` `` Japan NNP is VBZ perceived VBN  as IN a DT wealthy JJ nation NN that WDT  can MD turn VB elsewhere RB in IN the DT world NN market NN and CC buy VB the DT sugar NN , , '' '' the DT analyst NN said VBD  . .
It PRP was VBD the DT possibility NN of IN this DT demand NN that WDT  helped VBD firm VB prices NNS , , the DT analyst NN said VBD  . .
Another DT analyst NN noted VBD that IN Cuba NNP has VBZ been VBN deferring VBG shipments NNS in IN recent JJ years NNS . .
`` `` To TO the DT professionals NNS in IN the DT trade NN it PRP did VBD n't RB cause VB much JJ surprise NN . .
The DT March NNP futures NNS contract NN traded VBD as RB high JJ as IN 14.24 CD cents NNS , , but CC could MD n't RB sustain VB the DT advance NN , , '' '' he PRP said VBD  . .
LIVESTOCK NNP AND CC MEATS NNPS : :
The DT prices NNS of IN cattle NNS , , hogs NNS and CC pork NN belly NN futures NNS contracts NNS rebounded VBD as IN livestock NN traders NNS shook VBD off RP fears NNS that IN the DT Friday NNP stock NN market NN plunge NN would MD chill VB consumer NN spending NN , , which WDT  in IN turn NN would MD hurt VB retail JJ sales NNS of IN beef NN and CC pork NN . .
The DT prices NNS of IN most JJS livestock NN futures NNS contracts NNS had VBD dropped VBN sharply RB Monday NNP . .
Cattle NNS futures NNS prices NNS were VBD also RB supported VBN yesterday NN by IN signs NNS that IN supermarket NN chains NNS are VBP making VBG plans NNS  to TO increase VB their PRP$ promotions NNS concerning VBG beef NN . .
GRAINS NNPS AND CC SOYBEANS NNPS : :
The DT prices NNS of IN most JJS soybean NN and CC soybean-meal NN futures NNS contracts NNS rose VBD amid IN rumors NNS that IN the DT Soviet NNP Union NNP is VBZ interested VBN  in IN  buying VBG from IN the DT U.S. NNP or CC South NNP America NNP about IN 250,000 CD metric JJ tons NNS of IN soybeans NNS and CC as RB many JJ as IN 400,000 CD metric JJ tons NNS of IN soybean NN meal NN . .
Traders NNS are VBP especially RB sensitive JJ to TO reports NNS of IN possible JJ U.S. NNP soybean NN sales NNS because IN U.S. NNP exports NNS are VBP lagging VBG . .
Since IN Sept. NNP 1 CD , , about IN 13 CD million CD fewer JJR bushels NNS of IN U.S. NNP soybeans NNS  have VBP been VBN sold VBN  overseas RB than IN for IN the DT same JJ period NN last JJ year NN . .
Corn NN futures NNS prices NNS rose VBD slightly RB while IN wheat NN prices NNS settled VBD mixed VBN . .
Moody NNP 's POS Investors NNPS Service NNP Inc. NNP , ,  fretting VBG about IN increasing VBG competitive JJ pressure NN on IN Ryder NNP , , placed VBD about IN $ $ 2.8 CD billion CD  in IN company NN securities NNS under IN review NN for IN possible JJ downgrade NN . .
Ratings NNS under IN review NN are VBP Ryder NNP 's POS A-1 NN collateral JJ trust NN debentures NNS , , A-2 NN senior JJ notes NNS and CC bonds NNS , , A-2 NN preferred VBN stock NN and CC the DT company NN 's POS Prime-1 NN rating NN for IN commercial JJ paper NN . .
Moody NNP 's POS said VBD  it PRP is VBZ assessing VBG the DT strategies NNS  Ryder NNP 's POS management NN may MD follow VB  in IN  addressing VBG significant JJ challenges NNS in IN some DT major JJ markets NNS . .
The DT rating NN agency NN said VBD  it PRP is VBZ focusing VBG especially RB on IN the DT transportation NN service NN company NN 's POS efforts NNS  to TO control VB costs NNS , , improve VB margins NNS and CC enhance VB its PRP$ competitive JJ position NN in IN its PRP$ primary JJ business NN , , vehicle NN leasing NN and CC rental NN . .
The DT nations NNS of IN southern JJ Africa NNP know VBP a DT lot NN about IN  managing VBG elephants NNS ; : their PRP$ herds NNS are VBP thriving VBG . .
But CC the DT nations NNS of IN Europe NNP and CC North NNP America NNP have VBP decided VBN  they PRP know VBP better RB . .
At IN this DT week NN 's POS U.N. NNP conference NN in IN Lausanne NNP , , they PRP imposed VBD a DT global JJ ivory NN ban NN that WDT  seeks VBZ  to TO overturn VB local JJ policies NNS . .
A DT Zimbabwean NNP delegate NN argued VBD that IN the DT ban NN would MD `` `` guarantee VB the DT extinction NN of IN the DT elephant NN . . '' ''
Legitimate JJ ranchers NNS , , who WP  have VBP an DT interest NN in IN  preserving VBG the DT herds NNS , , would MD go VB out IN of IN business NN . .
Poachers NNS would MD control VB the DT underground JJ trade NN . .
Many JJ delegates NNS were VBD willing JJ  to TO craft VB a DT compromise NN , , but CC U.S. NNP delegate NN Constance NNP Harriman NNP and CC others NNS thundered VBD that DT down RP . .
The DT Greens NNP from IN the DT First NNP World NNP wanted VBD a DT morality NN play NN , , not RB a DT negotiation NN . .
Fortunately RB , , the DT nations NNS of IN southern JJ Africa NNP have VBP n't RB totally RB surrendered VBN their PRP$ sovereignty NN . .
Five CD countries NNS announced VBD  they PRP would MD not RB honor VB what WP one CD Zimbabwean JJ delegate NN wryly RB called VBD  the DT `` `` made VBN in IN Switzerland NNP '' '' solution NN . .
In IN fact NN , , they PRP seemed VBD a DT mite NN resentful JJ . .
The DT director NN of IN Zimbabwe NNP 's POS Wildlife NNP Department NNP described VBD American JJ conservationists NNS as IN `` `` fat JJ little JJ puppies NNS from IN urban JJ environments NNS who WP  do VBP n't RB know VB a DT thing NN about IN Africa NNP . . '' ''
That DT 's VBZ not RB fair JJ ; : they PRP 're VBP not RB all RB fat JJ . .
HUGO'S NNP BLAST NN generates VBZ pleas NNS for IN aid NN from IN South NNP Carolina NNP small JJ businesses NNS . .
The DT Small NNP Business NNP Administration NNP has VBZ received VBN more RBR than IN 5,000 CD formal JJ requests NNS for IN disaster NN loans NNS because IN of IN the DT hurricane NN . .
About IN 45 CD % NN of IN requests NNS for IN SBA NNP relief NN loans NNS , , which WDT  also RB are VBP available JJ to TO homeowners NNS , , come VBD from IN small JJ businesses NNS , , compared VBN with IN a DT 25 CD % NN business NN share NN after IN most JJS disasters NNS . .
The DT SBA NNP expects VBZ  to TO make VB about IN $ $ 1 CD billion CD  in IN Hurricane NNP Hugo NNP loans NNS . .
The DT disaster NN fund NN is VBZ replenished VBN  by IN loan NN repayments NNS . .
Hardest RBS hit VBN by IN Hugo NNP in IN South NNP Carolina NNP were VBD  small JJ retailers NNS tied VBN  to TO the DT tourist NN industry NN and CC businesses NNS in IN agriculture NN and CC cultivated VBN seafood NN . .
The DT State NNP Development NNP Board NNP set VBD up RP a DT Hugo NNP Hotline NNP  to TO accept VB business-to-business JJ help NN . .
After IN NBC NNP weather NN man NN Willard NNP Scott NNP broadcast VBD the DT hot-line NN number NN , , it PRP was VBD flooded VBN  with IN 10,000 CD calls NNS . .
Last JJ week NN , , the DT U.S. NNP Chamber NNP of IN Commerce NNP began VBD  using VBG its PRP$ national JJ TV NN show NN  to TO seek VB help NN , , such JJ as IN equipment NN , , for IN business NN owners NNS . .
Local JJ bankers NNS and CC accountants NNS help VBP applicants NNS fill VB out RP forms NNS . .
`` `` It PRP helps VBZ us PRP , , and CC people NNS feel VB better RB  talking VBG to TO someone NN who WP  's VBZ gone VBN through IN the DT same JJ thing NN , , '' '' an DT SBA NNP official NN says VBZ  . .
HEALTH NN BENEFITS NNS remain VBP a DT central JJ lobbying VBG effort NN , , even RB as IN Section NN 89 CD fades NNS . .
The DT Senate NNP , , after IN  deleting VBG Section NN 89 CD repeal NN from IN its PRP$ deficit-reduction JJ bill NN , , still RB is VBZ expected VBN  to TO join VB the DT House NN in IN  voting VBG  to TO kill VB the DT law NN , , which WDT  forces VBZ companies NNS to TO provide VB comparable JJ benefits NNS to TO laborers NNS and CC executives NNS alike RB . .
In IN  lobbying VBG on IN other JJ health-coverage NN topics NNS , , the DT National NNP Federation NNP of IN Independent NNP Business NNP will MD press VB for IN legislation NN that WDT  would MD give VB self-employed JJ people NNS a DT 100 CD % NN tax NN deduction NN for IN their PRP$ own JJ health NN plans NNS , , up IN from IN 25 CD % NN currently RB . .
And CC the DT group NN will MD urge VB that IN the DT federal JJ government NN pre-empt VB state NN rules NNS on IN what WP  must MD be VB covered VBN  by IN employers NNS ' POS health NN insurance NN . .
Small-business NN groups NNS also RB will MD fight VB the DT medical-leave JJ provision NN of IN legislation NN that WDT  would MD expand VB parental JJ leaves NNS . .
And CC they PRP still RB oppose VBP as IN too RB costly JJ an DT employer-paid JJ health NN insurance NN bill NN sponsored VBN  by IN Sen. NNP Edward NNP Kennedy NNP -LRB- -LRB- D. NNP , , Mass NNP . . -RRB- -RRB- despite IN his PRP$ proposal NN  to TO phase VB in RP small JJ business NN only RB gradually RB . .
There EX is VBZ also RB worry VB that IN the DT Pepper NNP Commission NNP studying VBG long-term JJ health NN care NN will MD again RB push VB lawmakers NNS toward IN employerpaid JJ solutions NNS . .
The DT Section NN 89 CD victory NN could MD have VB a DT downside NN by IN  making VBG it PRP  harder JJR  to TO oppose VB lawmakers NNS on IN other JJ health NN proposals NNS . .
`` `` With IN the DT repeal NN of IN Section NN 89 CD , , we PRP can MD no RB longer RB say VB  they PRP 're VBP discouraging VBG businesses NNS from IN  offering VBG health NN plans NNS , , '' '' says VBZ  Christine NNP Russell NNP , , the DT Chamber NNP of IN Commerce NNP 's POS small-business NN advocate NN . .
 JUMPING NNP THE NNP GUN NNP : :
Sen. NNP Lloyd NNP Bentsen NNP -LRB- -LRB- D. NNP , , Texas NNP -RRB- -RRB- was VBD outraged VBN after IN a DT private JJ word NN to TO John NNP Motley NNP , , lobbyist NN for IN the DT National NNP Federation NNP of IN Independent NNP Business NNP , , resulted VBD in IN a DT news NN release NN saying VBG that IN the DT Senate NNP Finance NNP Committee NNP chairman NN would MD recommend VB repeal NN of IN Section NN 89 CD . .
Even RB though IN the DT announcement NN was VBD true JJ in IN the DT end NN , , it PRP was VBD issued VBN  without IN the DT senator NN 's POS permission NN . .
`` `` I PRP blew VBD it PRP , , '' '' Mr. NNP Motley NNP says VBZ  apologetically RB . .
`` `` It PRP was VBD a DT timing NN mistake NN . . '' ''
PRISON-SHOP NNP BLUES NNPS : :
Sen. NNP Strom NNP Thurmond NNP -LRB- -LRB- R. NNP , , S.C NNP . . -RRB- -RRB- protests VBZ pending VBG legislation NN  to TO end VB the DT preference NN that IN the DT federal JJ prison NN system NN gets VBZ  in IN  selling VBG prisoner-made JJ furniture NN and CC other JJ goods NNS to TO government NN agencies NNS . .
Small-business NN suppliers NNS want VBP prisons NNS to TO stop VB  getting VBG high JJ priority NN , , especially RB as IN prison NN production NN grows VBZ with IN swelling VBG inmate NN populations NNS . .
Last JJ year NN , , the DT prisons NNS ' POS sales NNS to TO the DT Pentagon NNP totaled VBD $ $ 336 CD million CD  . .
REPAIR NN SHOPS NNS SCRAP VBP for IN more JJR access NN to TO work VB on IN auto-emissions NNS systems NNS . .
Groups NNS representing VBG some DT independent JJ auto-repair JJ shops NNS join VBP a DT compromise NN on IN the DT Clean NNP Air NNP legislation NN worked VBD out RP between IN environmentalists NNS and CC Rep. NNP Henry NNP Waxman NNP -LRB- -LRB- D. NNP , , Calif NNP . . -RRB- -RRB- . .
The DT plan NN would MD increase VB the DT warranty NN on IN auto-emission NN systems NNS to TO eight CD years NNS or CC 80,000 CD miles NNS from IN five CD years NNS or CC 50,000 CD for IN major JJ parts NNS . .
But CC the DT warranty NN on IN simpler JJR parts NNS would MD be VB lowered VBN  to TO two CD years NNS or CC 24,000 CD miles NNS . .
The DT garage NN owners NNS say VBP  they PRP would MD benefit VB because IN car NN owners NNS would MD be VB less RBR likely JJ  to TO go VB back RB to TO dealers NNS for IN the DT simpler JJR repairs NNS after IN two CD years NNS . .
The DT repair NN shops NNS are VBP n't RB united VBN , , however RB . .
Shops NNS represented VBN  by IN the DT Automotive NNP Service NNP Industry NNP Association NNP and CC the DT Motor NNP Equipment NNP Manufacturers NNPS Association NNP oppose VBP any DT increase NN in IN warranty NN length NN . .
They PRP say VBP  the DT longer JJR the DT warranty NN , , the DT longer JJR customers NNS will MD automatically RB return VB to TO new-car NN dealers NNS , , which WDT  then RB find VBP non-warranty NN work NN that WDT  might MD otherwise RB go VB to TO repair NN shops NNS . .
The DT House NNP Energy NNP Committee NNP will MD debate VB the DT issue NN later RB this DT month NN . .
Stan NNP Hathcock NNP , , an DT Atlanta NNP garage NN owner NN who WP  opposes VBZ a DT longer JJR warranty NN , , estimates VBZ that IN the DT current JJ plan NN costs VBZ him PRP as RB much RB as IN $ $ 15,000 CD  a DT year NN in IN lost VBN business NN . .
SMALL NNP TALK NNP : :
Some DT 70 CD % NN of IN graduates NNS who WP  recently RB earned VBD an DT M.B.A. NN degree NN say VBP  they PRP 'd MD prefer VB  to TO work VB in IN  or CC own VB  a DT small JJ company NN , , yet CC most JJS take VBP jobs NNS with IN large JJ concerns NNS , , says VBZ   a DT survey NN by IN the DT Foster NNP McKay NNP Group NNP , , a DT New NNP York NNP recruiting VBG firm NN ... : . .
Cardinal NNP Scientific NNP Inc. NNP of IN Waldorf NNP , , Md. NNP , , seeks VBZ a DT Small NNP Business NNP Innovation NNP Research NNP grant NN   to TO produce VB a DT `` `` nozzle NN assembly NN for IN an DT Army NN mass NN delousing VBG outfit NN  . .
Banc NNP One CD Corp. NNP said VBD  Frank NNP E. NNP McKinney NNP plans VBZ  to TO retire VB as IN the DT bank NN holding VBG company NN 's POS president NN effective JJ Jan. NNP 12 CD . .
Banc NNP One CD said VBD  `` `` it PRP  is VBZ contemplated VBN  '' '' that IN John NNP B. NNP McCoy NNP , , chairman NN and CC chief NN executive NN officer NN , , will MD assume VB the DT additional JJ position NN of IN president NN upon IN Mr. NNP McKinney NNP 's POS retirement NN . .
Mr. NNP McKinney NNP , , 50 CD years NNS old JJ , , was VBD chairman NN  and CC chief NN executive NN  of IN American NNP Fletcher NNP Corp. NNP , , Indianapolis NNP , , when WRB that DT bank NN holding VBG company NN merged VBD into IN Banc NNP One CD in IN January NNP 1987 CD  . .
The DT company NN said VBD  Mr. NNP McKinney NNP plans VBZ  to TO retire VB because IN the DT process NN of IN  affiliating VBG American NNP Fletcher NNP into IN Banc NNP One CD `` `` is VBZ considered VBN  completed VBN . . '' ''
Mr. NNP McKinney NNP will MD continue VB as IN chairman NN of IN the DT board NN and CC chairman NN of IN the DT executive JJ committee NN of IN Banc NNP One CD Indiana NNP Corp. NNP , , the DT successor NN company NN to TO American NNP Fletcher NNP Corp. NNP , , but CC will MD no RB longer RB be VB active JJ in IN day-to-day JJ management NN . .
He PRP will MD remain VB on IN the DT Banc NNP One CD board NN . .
The DT Treasury NNP plans VBZ  to TO raise VB $ $ 1.55 CD billion CD  in IN new JJ cash NN with IN the DT sale NN Monday NNP of IN about IN $ $ 15.6 CD billion CD  in IN short-term JJ bills NNS   to TO redeem VB $ $ 14.1 CD billion CD  in IN maturing VBG bills NNS  . .
The DT offering NN will MD be VB divided VBN  evenly RB between IN 13-week JJ and CC 26-week JJ bills NNS maturing VBG on IN Jan. NNP 25 CD , , 1990 CD , , and CC April NNP 26 CD , , 1990 CD , , respectively RB . .
Tenders NNS for IN the DT bills NNS , , available JJ in IN minimum JJ $ $ 10,000 CD  denominations NNS , , must MD be VB received VBN  by IN 1 CD p.m. NN EDT NNP Monday NNP at IN the DT Treasury NN or CC at IN Federal NNP Reserve NNP banks NNS or CC branches NNS . .
Moody NNP 's POS Investors NNPS Service NNP Inc. NNP said VBD  it PRP lowered VBD ratings NNS on IN about IN $ $ 650 CD million CD  of IN Beatrice NNP Co. NNP debt NN , ,  citing VBG the DT closely RB held VBN Chicago NNP food NN concern NN 's POS proposed VBN recapitalization NN . .
The DT ratings NNS concern NN said VBD  it PRP downgraded VBD Beatrice NNP notes NNS , , Euronotes NNS and CC certain JJ industrial JJ revenue NN bonds NNS to TO single-B-1 NN from IN Ba-3 NN and CC the DT company NN 's POS subordinated VBN debentures NNS to TO single-B-3 NN from IN single-B-2 NN . .
Moody NNP 's POS said VBD  the DT proposed VBN recaptilization NN may MD `` `` limit VB the DT company NN 's POS ability NN  to TO realize VB its PRP$ profit NN potential NN '' '' and CC that IN  paying VBG dividends NNS from IN a DT new JJ series NN of IN preferred VBN could MD squeeze VB `` `` basic JJ business NN operations NNS . . '' ''
A DT Beatrice NNP spokesman NN did VBD n't RB return VB calls NNS   seeking VBG comment NN . .
Beatrice NNP , , which WDT  went VBD private JJ in IN an DT $ $ 8.2 CD billion CD  leveraged JJ buy-out NN in IN 1986 CD , , said VBD last JJ month NN that IN it PRP might MD borrow VB again RB  to TO help VB pay VB investors NNS as RB much RB as IN $ $ 983 CD million CD  in IN preferred VBN stock NN and CC debt NN securities NNS . .
When WRB the DT Soviets NNPS announced VBD  their PRP$ last JJ soldier NN had VBD left VBN Afghanistan NNP in IN February NNP  , , the DT voices NNS of IN skepticism NN were VBD all DT but CC drowned VBD out RP by IN an DT international JJ chorus NN of IN euphoria NN . .
It PRP was VBD `` `` the DT Soviets NNPS ' POS Vietnam NNP . . '' ''
The DT Kabul NNP regime NN would MD fall VB . .
Millions NNS of IN refugees NNS would MD rush VB home NN . .
A DT resistance NN government NN would MD walk VB into IN Kabul NNP . .
Those DT who WP  bought VBD that DT illusion NN are VBP now RB bewildered VBN . .
Eight CD months NNS after IN Gen. NNP Boris NNP Gromov NNP walked VBD across IN the DT bridge NN into IN the DT U.S.S.R. NNP , , a DT Soviet-controlled JJ regime NN remains VBZ in IN Kabul NNP , , the DT refugees NNS sit VBP in IN their PRP$ camps NNS , , and CC the DT restoration NN of IN Afghan JJ freedom NN seems VBZ as RB far RB off IN as RB ever RB . .
But CC there EX never RB was VBD a DT chance NN that IN the DT Afghan JJ resistance NN would MD overthrow VB the DT Kabul NNP regime NN quickly RB and CC easily RB . .
Soviet JJ leaders NNS said VBD  they PRP would MD support VB their PRP$ Kabul NNP clients NNS by IN all DT means NNS necessary JJ -- : and CC did VBD  . .
The DT U.S. NNP said VBD  it PRP would MD fully RB support VB the DT resistance NN -- : and CC did VBD n't RB . .
With IN the DT February NNP 1987 CD U.N. NNP accords NNS `` `` relating VBG to TO Afghanistan NNP , , '' '' the DT Soviet NNP Union NNP got VBD everything NN  it PRP needed VBD   to TO consolidate VB permanent JJ control NN . .
The DT terms NNS of IN the DT Geneva NNP accords NNS leave VBP Moscow NNP free JJ  to TO provide VB its PRP$ clients NNS in IN Kabul NNP with IN assistance NN of IN any DT kind NN -- : including VBG the DT return NN of IN Soviet JJ ground NN forces NNS -- : while IN  requiring VBG the DT U.S. NNP and CC Pakistan NNP  to TO cut VB off RP aid NN . .
The DT only JJ fly NN in IN the DT Soviet JJ ointment NN was VBD the DT last-minute JJ addition NN of IN a DT unilateral JJ American JJ caveat NN , , that DT U.S. NNP aid NN to TO the DT resistance NN would MD continue VB as RB long RB as IN Soviet JJ aid NN to TO Kabul NNP did VBD  . .
But CC as RB soon RB as IN the DT accords NNS were VBD signed VBN  , , American JJ officials NNS sharply RB reduced VBD aid NN . .
In IN February NNP 1989 CD , , when WRB the DT Soviets NNPS said VBD  they PRP had VBD completed VBN their PRP$ pullout NN  , , the DT U.S. NNP cut VBD it PRP further RB . .
Not RB so IN the DT Soviets NNPS . .
Gen. NNP Gromov NNP himself PRP said VBD  Soviet JJ troops NNS expected VBD  to TO leave VB behind RB more RBR than IN $ $ 1 CD billion CD  of IN military JJ equipment NN and CC installations NNS for IN the DT Kabul NNP regime NN . .
Since IN the DT troop NN withdrawal NN , , Moscow NNP has VBZ poured VBN in RP an DT additional JJ $ $ 200 CD to TO $ $ 300 CD million CD  worth NN per IN month NN -- : nearly RB $ $ 2 CD billion CD  since IN February NNP , , equivalent JJ to TO the DT total JJ U.S. NNP aid NN to TO the DT resistance NN in IN nine CD years NNS . .
This DT includes VBZ what WP Deputy NNP Foreign NNP Minister NNP Yuli NNP Vorontsov NNP fetchingly RB called VBD  `` `` new JJ peaceful JJ long-range JJ weapons NNS , , '' '' including VBG more RBR than IN 800 CD SCUD NNP missiles NNS . .
By IN early JJ May NNP , , Moscow NNP had VBD delivered VBN , , for IN example NN , , 1,000 CD trucks NNS , , about IN 100 CD tanks NNS , , artillery NN and CC hundreds NNS of IN other JJ combat NN vehicles NNS . .
Later RB that DT month NN , , it PRP added VBD an DT entire JJ tank NN brigade NN , , including VBG 120 CD T-72 NN tanks NNS and CC more JJR than IN 40 CD BMP NNP state-of-the-art JJ infantry NN fighting VBG vehicles NNS . .
By IN September NNP , , a DT new JJ Reinforced NNP Motorized NNP Rifle NNP Brigade NNP with IN an DT additional JJ 300 CD combat NN vehicles NNS , , 1,000 CD more JJR trucks NNS and CC 10,000 CD Soviet-trained JJ Afghan JJ troops NNS had VBD arrived VBN in IN Kandahar NNP . .
In IN the DT last JJ few JJ weeks NNS , , Moscow NNP has VBZ added VBN FROG-7B NN missiles NNS , , the DT bomber NN version NN of IN the DT An-12 NN , , MiG-23BN NN high-altitude JJ aircraft NN , , MiG-29s NNS , , which WDT  can MD outfly VB Pakistan NNP 's POS U.S.-built JJ F16s NNS , , and CC Sukhoi NNP SU-27 NN fighter-bombers NNS , , which WDT  can MD outfly VB the DT MiG-29s NNS . .
Moscow NNP claims VBZ  this DT is VBZ all DT needed VBN  to TO protect VB the DT Kabul NNP regime NN against IN the DT guerrilla NN resistance NN . .
It PRP  is VBZ well-known JJ that IN the DT regular JJ Afghan JJ infantry NN is VBZ filled VBN  with IN reluctant JJ conscripts NNS . .
But CC this DT is VBZ not RB the DT entire JJ Afghan JJ army NN , , and CC it PRP is VBZ no DT longer JJR Kabul NNP 's POS only JJ military JJ force NN . .
Complete JJ units NNS have VBP been VBN trained VBN and CC indoctrinated VBN  in IN the DT U.S.S.R. NNP and CC other JJ East NNP bloc NN nations NNS ; : 30,000 CD to TO 40,000 CD of IN these DT troops NNS have VBP returned VBN . .
In IN addition NN , , the DT regime NN has VBZ established VBN well-paid JJ paramilitary JJ forces NNS totaling VBG more RBR than IN 100,000 CD , , including VBG 35,000 CD Soviet-trained JJ troops NNS of IN the DT Interior NNP Ministry NNP -LRB- -LRB- KHAD\/WAD NN -RRB- -RRB- , , which WDT  still RB is VBZ directed VBN  by IN 1,500 CD Soviet NNP KGB NNP officers NNS . .
Even RB if IN not RB all PDT these DT forces NNS are VBP committed VBN to TO the DT regime NN , , they PRP are VBP now RB dependent JJ on IN it PRP . .
And CC thousands NNS of IN Afghan JJ children NNS have VBP been VBN taken VBN  to TO the DT Soviet NNP Union NNP , , where WRB they PRP are VBP hostage NN for IN the DT behavior NN of IN their PRP$ families NNS  . .
Since IN 1981 CD , , Indian JJ military JJ advisers NNS have VBP been VBN assisting VBG the DT Kabul NNP regime NN . .
In IN preparation NN for IN the DT withdrawal NN , , Moscow NNP , , Kabul NNP and CC New NNP Delhi NNP signed VBD two CD agreements NNS  for IN several JJ hundred CD newly RB civilian JJ Indian JJ experts NNS to TO replace VB some DT of IN the DT more RBR visible JJ Soviet JJ military JJ personnel NNS  . .
Cuban JJ military JJ personnel NNS also RB have VBP been VBN active JJ in IN Afghanistan NNP since IN 1979 CD . .
The DT Soviets NNPS cut VBD a DT deal NN with IN Iran NNP : : a DT future JJ Iranian JJ role NN in IN Afghanistan NNP in IN exchange NN for IN Iranian JJ support NN of IN Soviet JJ policy NN . .
The DT deal NN was VBD symbolized VBN  by IN the DT restoration NN of IN the DT Shi'ite NNP Sultan NNP Ali NNP Keshtmand NNP to TO the DT Afghan JJ prime JJ ministry NN . .
Moreover RB , , serious JJ questions NNS have VBP been VBN raised VBN  about IN the DT claimed VBN withdrawal NN of IN Soviet JJ forces NNS . .
Before IN his PRP$ assassination NN in IN 1988 CD , , President NNP Zia NNP of IN Pakistan NNP repeatedly RB stated VBD that IN fresh JJ Soviet JJ troops NNS were VBD being VBG inserted VBN  into IN Afghanistan NNP even RB as IN others NNS were VBD ostentatiously RB withdrawn VBN  . .
Rep. NNP Bill NNP McCollum NNP -LRB- -LRB- R. NNP , , Fla. NNP -RRB- -RRB- reports VBZ that IN these DT included VBD 20,000 CD to TO 30,000 CD Soviet NNP Central NNP Asian NNP KGB NNP Border NNP Guards NNPS , , ethnically RB indistinguishable JJ from IN Afghans NNPS and CC wearing VBG unmarked JJ uniforms NNS . .
Meanwhile RB , , the DT Kabul NNP regime NN is VBZ increasingly RB successful JJ at IN  portraying VBG the DT resistance NN as IN bloody-minded JJ fanatics NNS . .
In IN this DT they PRP are VBP aided VBN  by IN years NNS of IN American JJ , , European JJ , , Pakistani JJ and CC Saudi JJ support NN for IN the DT most RBS extreme JJ factions NNS -- : radical JJ Islamic JJ fanatics NNS with IN leaders NNS whose WP$ policies NNS  are VBP anathema NN to TO the DT Afghan JJ public NN . .
This DT heavy JJ outside JJ support NN for IN the DT worst JJS has VBZ undermined VBN better JJR , , moderate JJ leaders NNS . .
In IN autumn NN last JJ year NN , , for IN example NN , , the DT regime NN garrison NN at IN Kandahar NNP was VBD prepared VBN  to TO surrender VB the DT city NN to TO resistance NN moderates NNS . .
At IN the DT last JJ minute NN , , however RB , , Pakistani JJ officials NNS sent VBD in RP Gulbuddin NNP Hekhmatyar NNP , , perhaps RB the DT most RBS hated VBN and CC feared VBN of IN the DT extremists NNS , , with IN a DT demand NN that IN the DT surrender NN be VB made VBN  to TO his PRP$ forces NNS . .
The DT deal NN fell VBD through RB , , and CC Kandahar NNP remains VBZ a DT major JJ regime NN base NN . .
The DT resistance NN lacks VBZ not RB only JJ air NN power NN , , armor NN and CC expertise NN but CC often RB such JJ essentials NNS as IN maps NNS , , mine NN detectors NNS , , or CC even RB winter NN gloves NNS . .
Experienced VBN resistance NN commanders NNS wanted VBD  to TO use VB guerrilla NN action NN and CC siege NN tactics NNS  to TO wear VB down RP the DT regime NN . .
Instead RB , , they PRP were VBD pressured JJ by IN Pakistan NNP 's POS ISI NNP , , the DT channel NN for IN their PRP$ support NN , , into IN  attacking VBG Jalalabad NNP . .
They PRP took VBD more RBR than IN 25 CD % NN casualties NNS ; : journalists NNS report VBP that IN they PRP faced VBD minefields NNS without IN mine NN detectors NNS . .
The DT wonder NN is VBZ not RB that IN the DT resistance NN has VBZ failed VBN  to TO topple VB the DT Kabul NNP regime NN , , but CC that IN it PRP continues VBZ  to TO exist VB and CC fight VB at IN all DT . .
Last JJ summer NN , , in IN response NN to TO congressional JJ criticism NN , , the DT State NNP Department NNP and CC the DT CIA NNP said VBD  they PRP had VBD resumed VBN military JJ aid NN to TO the DT resistance NN months NNS after IN it PRP was VBD cut VBN  off IN ; : but CC it PRP  is VBZ not RB clear JJ how WRB much RB  is VBZ being VBG sent VBN  or CC when WRB it PRP will MD arrive VB  . .
For IN months NNS the DT resistance NN has VBZ been VBN defenseless JJ against IN air NN attack NN . .
Thus RB far RB there EX is VBZ no DT indication NN that IN they PRP have VBP been VBN re-supplied VBN  with IN Stingers NNPS or CC other JJ anti-aircraft JJ weapons NNS . .
Indeed RB , , U.S. NNP officials NNS have VBP indicated VBN to TO the DT press NN that IN the DT continuation NN of IN aid NN depends VBZ on IN what WDT success NN the DT weakened VBN resistance NN achieves VBZ  by IN the DT end NN of IN this DT year NN . .
Moscow NNP and CC Kabul NNP must MD have VB found VBN that DT information NN useful JJ . .
For IN a DT decade NN U.S. NNP policy NN has VBZ been VBN incoherent JJ , , based VBN on IN miscalculation NN and CC the DT defense NN of IN bureaucratic JJ and CC political JJ turf NN . .
No DT settlement NN negotiated VBN  by IN others NNS can MD force VB the DT Afghan NNP people NNS to TO give VB up RP their PRP$ struggle NN . .
A DT cutoff NN of IN U.S. NNP military JJ aid NN would MD merely RB abandon VB them PRP  to TO die VB in IN vain JJ . .
Creation NN of IN a DT new JJ , , realistic JJ U.S. NNP policy NN is VBZ long RB overdue JJ . .
Ms. NNP Klass NNP , , editor NN and CC co-author NN of IN `` `` Afghanistan NNP : : The NNP Great NNP Game NNP Revisited NNP  '' '' -LRB- -LRB- Freedom NNP House NNP -RRB- -RRB- , , directs VBZ the DT Freedom NNP House NNP program NN on IN Afghanistan\/Southwest NNP Asia NNP . .
Nothing NN stirred VBD the DT soul NN of IN Ronald NNP Reagan NNP and CC his PRP$ disciples NNS as RB much RB as IN the DT crusade NN  to TO aid VB Nicaragua NNP 's POS Contra NNP rebels NNS , , or CC the DT dream NN of IN  building VBG a DT space-based JJ defense NN shield NN  to TO knock VB out RP Soviet JJ nuclear JJ missiles NNS . .
Yet RB under IN Mr. NNP Reagan NNP 's POS preferred VBN successor NN , , President NNP Bush NNP , , those DT two CD cherished VBN national-security NN causes NNS are VBP withering VBG on IN the DT vine NN . .
And CC , , surprisingly RB , , little RB more RBR than IN a DT whimper NN of IN protest NN is VBZ being VBG heard VBN  , , even RB though IN Reaganauts NNS once RB breathed VBD fire NN  supporting VBG the DT Contras NNPS and CC the DT Strategic NNP Defense NNP Initiative NNP . .
`` `` The DT programs NNS have VBP arthritis NN , , '' '' says VBZ  Rep. NNP Henry NNP Hyde NNP , , a DT conservative JJ Republican NNP from IN Illinois NNP . .
Yet RB , , he PRP asserts VBZ , , `` `` you PRP look VBP around RB ... : and CC you PRP say VBP , , ` `` Who WP  are VBP the DT leaders NNS ? .
Who WP  is VBZ going VBG  to TO carry VB the DT water NN ? . ' '' '' ''
It PRP  is VBZ n't RB surprising JJ that IN President NNP Bush NNP has VBZ n't RB led VBN a DT crusade NN  to TO pump VB up RP the DT Contras NNPS or CC SDI NNP . .
Though IN he PRP nominally RB supports VBZ both DT programs NNS , , Mr. NNP Bush NNP has VBZ n't RB been VBN a DT passionate JJ champion NN of IN either DT cause NN , , as IN Mr. NNP Reagan NNP was VBD  . .
What WP  's VBZ surprising VBG is VBZ that IN there EX is VBZ n't RB more JJR of IN a DT conservative JJ outcry NN as IN the DT Bush NNP administration NN lets VBZ the DT programs NNS slip VB down IN the DT national-priority JJ list NN . .
A DT combination NN of IN factors NNS -- : a DT weariness NN among IN some DT conservatives NNS , , a DT decline NN in IN the DT perception NN of IN a DT Soviet JJ threat NN and CC a DT preoccupation NN with IN other JJ issues NNS -- : seem VBP  to TO explain VB the DT strange JJ tranquility NN . .
Above IN all DT , , though RB , , conservative JJ Republicans NNPS who WP  have VBP championed VBN both PDT the DT Contras NNPS and CC SDI NNP are VBP reluctant JJ  to TO attack VB a DT Republican JJ president NN for IN  failing VBG  to TO do VB more RBR -- : though IN that DT reluctance NN may MD be VB receding VBG . .
`` `` We PRP want VBP  to TO complain VB , , we PRP want VBP  to TO say VB something NN about IN it PRP , , and CC we PRP 're VBP going VBG  to TO  as IN it PRP gets VBZ worse JJR , , '' '' says VBZ  Rep. NNP Dan NNP Burton NNP , , an DT Indiana NNP Republican NNP who WP  has VBZ been VBN a DT staunch JJ Contra NNP backer NN . .
`` `` But CC it PRP 's VBZ like IN  kicking VBG your PRP$ father NN in IN the DT pants NNS . .
You PRP hate VBP  to TO do VB it PRP because IN he PRP 's VBZ your PRP$ father NN . . '' ''
Mr. NNP Burton NNP says VBZ  conservatives NNS ' POS unhappiness NN with IN Mr. NNP Bush NNP 's POS cautious JJ handling NN of IN the DT recent JJ unsuccessful JJ coup NN in IN Panama NNP will MD make VB them PRP more RBR willing JJ  to TO speak VB out IN . .
Of IN course NN , , neither DT President NNP Bush NNP nor CC the DT Congress NNP has VBZ actually RB abandoned VBN the DT Contras NNPS or CC SDI NNP . .
Mr. NNP Bush NNP has VBZ struck VBN a DT deal NN  with IN congressional JJ leaders NNS  to TO provide VB nonlethal JJ aid NN to TO the DT Contras NNPS until IN Nicaragua NNP holds VBZ national JJ elections NNS next IN February NNP . .
But CC the DT administration NN has VBZ dropped VBN any DT effort NN  to TO win VB military JJ aid NN for IN the DT rebels NNS . .
And CC the DT administration NN 's POS deal NN with IN Congress NNP gives VBZ several JJ congressional JJ committees NNS the DT right NN  to TO cut VB off RP even RB humanitarian JJ aid NN next IN month NN , , though IN the DT committees NNS are VBP likely JJ  to TO let VB aid NN continue VB until IN February NNP . .
Most JJS analysts NNS think VBP  there EX 's POS little JJ prospect NN  the DT Contras NNPS can MD be VB a DT significant JJ fighting NN force NN without IN U.S. NNP arms NNS , , and CC after IN the DT February NNP election NN their PRP$ future NN in IN any DT form NN will MD be VB murky JJ at IN best RB . .
Instead RB of IN  focusing VBG on IN the DT Contras NNPS , , Mr. NNP Bush NNP has VBZ switched VBN to TO  urging VBG members NNS of IN Congress NNP -- : most RBS recently RB in IN a DT White NNP House NNP meeting NN yesterday NN -- :  to TO approve VB financing NN for IN the DT election NN campaign NN of IN political JJ opponents NNS of IN Nicaragua NNP 's POS Sandinista NNP government NN . .
The DT administration NN continues VBZ  to TO support VB SDI NNP , , or CC Star NNP Wars NNPS , , and CC it PRP recently RB lobbied VBD  to TO persuade VB the DT Senate NNP  to TO restore VB some DT of IN the DT funds NNS  it PRP planned VBD  to TO cut VB  from IN the DT program NN . .
And CC just RB last JJ week NN , , Defense NNP Secretary NNP Dick NNP Cheney NNP gave VBD a DT strong JJ speech NN listing VBG `` `` compelling JJ reasons NNS '' ''   to TO push VB ahead RB with IN SDI NNP  and CC saying VBG  he PRP 'd MD urge VB President NNP Bush NNP  to TO veto VB a DT defense NN bill NN with IN `` `` inadequate JJ '' '' funding NN for IN the DT program NN . .
But CC the DT strong JJ pitch NN by IN Mr. NNP Cheney NNP may MD be VB too RB little RB too RB late JJ   to TO prevent VB damage NN to TO SDI NNP . .
The DT House NNP has VBZ already RB voted VBN for IN a DT deep JJ cut NN in IN funding NN , , and CC in IN the DT end NN the DT program NN 's POS backers NNS will MD be VB hard RB pressed VBN  to TO head VB off RP some DT reduction NN in IN spending VBG next JJ year NN . .
And CC while IN the DT defense NN secretary NN is VBZ speaking VBG out IN , , President NNP Bush NNP himself PRP has VBZ n't RB launched VBN any DT high-visibility NN campaign NN  to TO drum VB up RP support NN , , as IN President NNP Reagan NNP did VBD  . .
The DT administration NN also RB acknowledges VBZ that IN it PRP is VBZ n't RB pursuing VBG Mr. NNP Reagan NNP 's POS original JJ vision NN of IN an DT `` `` impenetrable JJ shield NN '' '' protecting VBG the DT whole JJ U.S. NNP , , but CC rather RB a DT more RBR modest JJ version NN . .
 More RBR ominous JJ to TO SDI NNP supporters NNS , , the DT Bush NNP administration NN appears VBZ  to TO have VB tacitly RB accepted VBN a DT new JJ arms-control JJ proposal NN from IN the DT Soviet NNP Union NNP that WDT  spells VBZ long-term JJ trouble NN for IN Star NNP Wars NNPS . .
The DT Soviets NNPS have VBP agreed VBN  to TO complete VB a DT treaty NN cutting VBG strategic JJ weapons NNS without IN  including VBG restrictions NNS on IN space-based JJ defenses NNS . .
But CC the DT Soviets NNPS also RB are VBP insisting VBG that IN they PRP will MD reserve VB the DT right NN  to TO withdraw VB from IN the DT completed VBN strategic-arms NN treaty NN later RB on IN if IN the DT U.S. NNP does VBZ SDI NNP testing NN or CC deployment NN that IN the DT Soviets NNPS think VBP   violates VBZ the DT existing VBG anti-ballistic-missile JJ treaty NN . .
It PRP will MD be VB hard JJ  down IN the DT road NN  to TO persuade VB Congress NNP  to TO approve VB money NN for IN SDI NNP plans NNS if IN lawmakers NNS fear VBP  those DT plans NNS could MD scuttle VB a DT completed VBN treaty NN . .
As IN a DT result NN , , Frank NNP Gaffney NNP , , a DT former JJ Reagan NNP Pentagon NNP aide NN who WP  now RB heads VBZ the DT Center NNP for IN Security NNP Policy NNP , , charges VBZ that IN the DT administration NN 's POS `` `` professions NNS of IN continued VBN commitment NN to TO development NN and CC deployment NN of IN the DT SDI NNP program NN strain VBP credulity NN . . '' ''
Still RB , , proponents NNS may MD be VB shying VBG away RB from IN more JJR drumbeating NN because IN they PRP sense VBP  political JJ tides NNS have VBP turned VBN against IN  arming NN the DT Nicaraguan JJ rebels NNS or CC boosting VBG spending NN on IN SDI NNP -- : particularly RB when WRB the DT public NN perceives VBZ  the DT Soviet JJ threat NN is VBZ declining VBG under IN Mikhail NNP Gorbachev NNP  . .
In IN fact NN , , because IN communism NN seems VBZ  to TO be VB beating VBG a DT global JJ retreat NN , , some DT conservatives NNS may MD simply RB be VB so RB pleased VBN that IN their PRP$ anti-communist JJ philosophy NN is VBZ prevailing VBG that IN they PRP do VBP n't RB have VB the DT fire NN at IN the DT moment NN  to TO push VB controversial JJ programs NNS . .
`` `` The DT short JJ of IN it PRP is VBZ that IN the DT most RBS hard-bitten JJ among IN us PRP can MD not RB get VB into IN too RB sour JJ a DT mood NN with IN communism NN collapsing VBG , , '' '' says VBZ  Mitchell NNP Daniels NNP , , a DT former JJ Reagan NNP White NNP House NNP aide NN who WP  now RB is VBZ president NN of IN the DT Hudson NNP Institute NNP . .
Some DT activists NNS are VBP toiling VBG  to TO raise VB the DT profile NN of IN the DT two CD causes NNS . .
But CC they PRP say VBP  they PRP ca MD n't RB make VB much JJ headway NN because IN of IN a DT lack NN of IN willing JJ leaders NNS in IN a DT position NN   to TO turn VB the DT tide NN  . .
One CD longtime NN champion NN of IN these DT programs NNS in IN Congress NNP , , Republican NNP whip NN Newt NNP Gingrich NNP of IN Georgia NNP , , is VBZ distracted VBN  by IN questions NNS about IN his PRP$ ethics NNS , , conservatives NNS note VBP   . .
Other JJ conservative JJ champions NNS , , like IN Wyoming NNP Republican NNP Sen. NNP Malcolm NNP Wallop NNP , , a DT longtime NN SDI NNP advocate NN , , do VBP n't RB have VB the DT clout NN with IN the DT Bush NNP White NNP House NNP that IN they PRP enjoyed VBD  with IN President NNP Reagan NNP . .
Above IN all DT , , though RB , , proponents NNS say VBP  neither CC the DT Contra NNP nor CC the DT SDI NNP cause NN can MD be VB pushed VBN  much RB further RB without IN more JJR presidential JJ support NN . .
`` `` For IN there EX to TO be VB wind NN in IN the DT sails NNS of IN any DT program NN , , the DT chief NN executive NN has VBZ  to TO be VB blowing VBG in IN the DT sails NNS , , '' '' says VBZ  Rep. NNP Burton NNP . .
All PDT this DT causes VBZ Rep. NNP Hyde NNP to TO muse VB about IN an DT alternate JJ way NN   to TO drum VB up RP more JJR enthusiasm NN  . .
`` `` What WP I PRP 'd MD like VB  to TO see VB  , , if IN he PRP is VBZ up IN to TO it PRP , , is VBZ for IN Reagan NNP to TO take VB to TO the DT hustings NN  to TO regenerate VB enthusiasm NN for IN SDI NNP , , '' '' the DT congressman NN says VBZ . .
We PRP 're VBP sorry JJ  to TO report VB that IN on IN Monday NNP President NNP Bush NNP accepted VBD the DT resignation NN of IN William NNP Allen NNP as IN chairman NN of IN the DT U.S. NNP Civil NNP Rights NNPS Commission NNP . .
Mr. NNP Allen NNP , , appointed VBN  by IN President NNP Reagan NNP , , grew VBD understandably RB tired JJ of IN  dealing VBG with IN the DT guerrilla NN tactics NNS of IN his PRP$ enemies NNS . .
His PRP$ recent JJ speech NN , , provocatively RB titled VBN `` `` Blacks NNS ? . Animals NNS ? . Homosexuals NNS ? . What WP  is VBZ a DT Minority NN ? . '' '' caused VBD an DT uproar NN when WRB its PRP$ title NN leaked VBD out IN  . .
Mr. NNP Allen NNP 's POS commissioners NNS voted VBD  to TO call VB his PRP$ unread JJ speech NN `` `` thoughtless JJ , , disgusting JJ and CC unnecessarily RB inflammatory JJ . . '' ''
Commissioner NNP Mary NNP Francis NNP Berry NNP said VBD  it PRP was VBD `` `` another DT sad JJ episode NN in IN the DT saga NN of IN the DT unguided JJ missile NN who WP  is VBZ chairman NN . . '' ''
Rep. NNP Don NNP Edwards NNP , , the DT California NNP Democrat NNP , , warned VBD Mr. NNP Allen NNP that IN the DT speech NN would MD be VB `` `` outside IN the DT scope NN of IN the DT commission NN 's POS jurisdiction NN . . '' ''
Thomas NNP Stoddard NNP , , head NN of IN the DT Lambda NNP Legal NNP Defense NNP Fund NNP , , called VBD the DT prospect NN of IN the DT speech NN `` `` frankly RB shocking JJ . . '' ''
We PRP 've VBP actually RB read VBN the DT speech NN . .
Mr. NNP Allen NNP began VBD it PRP with IN a DT warning NN to TO his PRP$ hosts NNS , , a DT California NNP church NN group NN that WDT  opposes VBZ rights NNS for IN homosexuals NNS . .
He PRP said VBD that IN other JJ participants NNS in IN the DT conference NN `` `` do VBP not RB believe VB that IN the DT rights NNS of IN Americans NNPS should MD be VB guaranteed VBN  to TO citizens NNS who WP  are VBP homosexual JJ , , '' '' but CC that IN `` `` I PRP mean VBP  to TO persuade VB you PRP to TO the DT opposite JJ view NN . . '' ''
He PRP recalled VBD to TO the DT audience NN a DT `` `` strange JJ , , infelicitous JJ '' '' analogy NN  he PRP once RB heard VBD   arguing VBG `` ``  now RB that IN we PRP have VBP finally RB recognized VBN that IN American JJ blacks NNS have VBP rights NNS , , we PRP need VBP  to TO do VB the DT same JJ for IN animals NNS . .
'' '' Mr. NNP Allen NNP objected VBD to TO this DT analogy NN because IN it PRP seems VBZ  to TO `` `` assimilate VB the DT status NN of IN blacks NNS to TO that DT of IN animals NNS -- : as IN a DT mere JJ project NN of IN charity NN , , of IN humaneness NN . . '' ''
Rights NNS on IN such PDT a DT basis NN , , whether IN for IN blacks NNS or CC homosexuals NNS , , are VBP `` `` mere JJ indulgences NNS , , '' '' he PRP said VBD   , , subject JJ to TO  being VBG taken VBN  back RB . .
He PRP says VBZ  the DT title NN of IN his PRP$ speech NN was VBD  to TO make VB his PRP$ point NN that IN Americans NNPS have VBP rights NNS as IN individuals NNS , , not RB as IN members NNS of IN certain JJ select JJ groups NNS . .
His PRP$ speech NN criticized VBD the DT `` `` idiocy NN of IN notions NNS of IN protected VBN groups NNS in IN society NN '' '' as IN  opposed VBN to TO individual JJ equality NN or CC , , as IN he PRP put VBD it PRP , , in IN `` `` a DT common JJ destiny NN as IN Americans NNPS . . '' ''
Instead RB of IN  lobbying VBG for IN special JJ treatment NN , , Mr. NNP Allen NNP said VBD that IN homosexuals NNS and CC others NNS should MD try VB  to TO ensure VB equal JJ treatment NN under IN the DT law NN and CC not RB aim VB for IN special JJ privileges NNS that WDT  would MD risk VB `` `` invidious JJ retrenchment NN with IN government NN complicity NN . . '' ''
This DT hardly RB sounds VBZ like IN an DT anti-homosexual JJ screed NN . .
What WP  's VBZ really RB going VBG on RP here RB ? .
The DT three CD most RBS important JJ things NNS   to TO understand VB  about IN Mr. NNP Allen NNP is VBZ that IN he PRP is VBZ a DT black JJ conservative JJ intellectual NN -- : a DT triple JJ threat NN to TO the DT liberal JJ establishment NN . .
Mr. NNP Allen NNP , , who WP  teaches VBZ government NN at IN prestigious JJ Harvey NNP Mudd NNP College NNP in IN California NNP and CC will MD remain VB a DT member NN of IN the DT commission NN , , has VBZ spent VBN years NNS  arguing VBG that IN civil JJ rights NNS are VBP individuals NNS ' POS rights NNS . .
He PRP last RB made VBD waves NNS when WRB he PRP dared VBD  to TO defend VB an DT Indian JJ girl NN who WP  had VBD been VBN adopted VBN  by IN non-Indian JJ parents NNS off IN her PRP$ reservation NN . .
Mr. NNP Allen NNP quickly RB ran VBD up RB against IN the DT liberal JJ establishment NN  again RB , , which WDT  somehow RB elevated VBD the DT vague JJ concept NN of IN `` `` Indian NNP rights NNS '' '' above IN the DT rights NNS of IN individual JJ Indians NNPS . .
There EX is VBZ a DT huge JJ divide NN between IN Mr. NNP Allen NNP 's POS we're-all-in-this-together JJ view NN and CC the DT divisive JJ litigation NN approach NN of IN the DT civil JJ rights NNS groups NNS . .
Indeed RB , , the DT gap NN is VBZ so RB large JJ that IN Mr. NNP Allen NNP 's POS critics NNS refuse VBP  to TO engage VB the DT debate NN . .
Their PRP$ ridicule NN of IN him PRP is VBZ no DT substitute NN for IN argument NN . .
Their PRP$ effort NN  to TO run VB him PRP out IN of IN Washington NNP is VBZ an DT embarrassment NN to TO the DT original JJ purpose NN of IN their PRP$ own JJ movement NN . .
We PRP hope VBP  the DT next JJ head NN of IN the DT Civil NNP Rights NNPS Commission NNP will MD be VB as RB brave JJ as IN Mr. NNP Allen NNP in IN  making VBG the DT case NN for IN equality NN of IN civil JJ rights NNS . .
Bearings NNP Inc. NNP said VBD  its PRP$ chairman NN , , John NNP R. NNP Cunin NNP , , will MD retire VB as IN an DT officer NN of IN the DT company NN on IN Jan. NNP 2 CD . .
George NNP L. NNP LaMore NNP , , president NN and CC chief NN executive NN officer NN , , will MD become VB chairman NN and CC chief NN executive NN upon IN Mr. NNP Cunin NNP 's POS retirement NN . .
John NNP C. NNP Dannemiller NNP , , executive JJ vice NN president NN and CC chief NN operating VBG officer NN , , will MD become VB president NN and CC chief NN operating VBG officer NN . .
Mr. NNP Cunin NNP , , 65 CD years NNS old JJ , , was VBD chief NN executive NN of IN the DT distributor NN of IN bearings NNS and CC power-transmission JJ products NNS from IN 1982 CD to TO 1988 CD . .
He PRP will MD continue VB as IN a DT director NN . .
Mr. NNP LaMore NNP , , 63 CD , , a DT 48-year JJ veteran NN at IN Bearings NNP , , has VBZ been VBN president NN since IN 1983 CD . .
Mr. NNP Dannemiller NNP , , 51 CD , , joined VBD Bearings NNP in IN August NNP 1988 CD from IN Leaseway NNP Transportation NNP Corp. NNP , , where WRB he PRP was VBD president NN and CC chief NN operating VBG officer NN  . .
He PRP has VBZ been VBN a DT Bearings NNP director NN since IN 1985 CD . .
The DT appointments NNS are VBP part NN of IN a DT planned VBN succession NN at IN the DT company NN . .
Soviet JJ leader NN Mikhail NNP Gorbachev NNP opened VBD a DT major JJ U.S. NNP trade NN exhibition NN in IN Moscow NNP and CC spent VBD two CD hours NNS  touring VBG some DT of IN the DT 150 CD stalls NNS representing VBG such JJ blue-chip JJ companies NNS as IN General NNP Motors NNPS Corp. NNP , , International NNP Business NNP Machines NNPS Corp. NNP and CC Johnson NNP & CC Johnson NNP . .
At IN the DT Archer-Daniels-Midland NNP Co. NNP stand NN , , Mrs. NNP Nelson NNP Rockefeller NNP , , a DT board NN member NN , , offered VBD him PRP a DT soy NN burger NN . .
He PRP did VBD n't RB bite VB . .
The DT exhibition NN by IN the DT U.S.-U.S.S.R. NNP Trade NNP and CC Economic NNP Council NNP underscores VBZ the DT growing VBG U.S. NNP interest NN in IN that DT nation NN 's POS market NN , , though IN trade NN between IN the DT two CD countries NNS is VBZ a DT minuscule JJ $ $ 3 CD billion CD  . .
The DT Soviet JJ president NN and CC his PRP$ prime JJ minister NN , , Nikolai NNP Ryzhkov NNP , , spent VBD the DT longest JJS time NN , , about IN 15 CD minutes NNS , , at IN the DT IBM NNP stand NN , , where WRB they PRP got VBD souvenir NN computer-chip JJ key NN rings NNS  . .
At IN the DT GM NNP stall NN , , they PRP barely RB looked VBD at IN a DT gleaming VBG Cadillac NNP , ,  preferring VBG  to TO talk VB about IN cooperation NN possibilities NNS . .
In IN Beijing NNP , , meantime NN , , China NNP opened VBD an DT international JJ aviation NN show NN , , but CC the DT West NN 's POS embargo NN on IN military JJ deals NNS and CC uncertainty NN about IN the DT nation NN 's POS stability NN kept VBD many JJ foreign JJ exhibitors NNS away RB . .
Officials NNS said VBD  91 CD companies NNS from IN 14 CD countries NNS , , including VBG the DT U.S. NNP , , had VBD displays NNS , , down IN from IN about IN 260 CD firms NNS from IN more JJR than IN 20 CD countries NNS at IN the DT last JJ show NN in IN
Japanese JJ air-conditioner NN maker NN Daikin NNP Industries NNPS Ltd. NNP was VBD fined VBN  two CD million CD yen NN -LRB- -LRB- $ $ 14,000 CD  -RRB- -RRB- for IN  exporting VBG to TO the DT Soviet NNP Union NNP a DT chemical NN solution NN that WDT  could MD be VB used VBN  in IN missile-guidance JJ systems NNS . .
A DT Daikin NNP executive NN in IN charge NN of IN exports NNS when WRB the DT high-purity NN halogenated VBD hydrocarbon NN was VBD sold VBN  to TO the DT Soviets NNPS in IN 1986 CD  received VBD a DT suspended VBN 10-month JJ jail NN sentence NN . .
Judge NNP Masaaki NNP Yoneyama NNP told VBD the DT Osaka NNP District NNP Court NNP  Daikin NNP 's POS `` `` responsibility NN is VBZ heavy JJ because IN illegal JJ exports NNS lowered VBD international JJ trust NN in IN Japan NNP . . '' ''
Sale NN of IN the DT solution NN in IN concentrated VBN form NN to TO Communist NNP countries NNS is VBZ prohibited VBN  by IN Japanese JJ law NN and CC by IN international JJ agreement NN . .
A DT Soviet JJ legislative JJ panel NN rejected VBD as RB not RB radical JJ enough RB a DT government NN proposal NN on IN  decentralizing VBG economic JJ control NN . .
The DT newspaper NN Leninskoye NNP Zamya NNP said VBD  the DT committee NN decided VBD  the DT plan NN  to TO parcel VB out RP economic JJ powers NNS previously RB exercised VBN  by IN Moscow NNP to TO the DT country NN 's POS 15 CD republics NNS `` `` does VBZ n't RB reflect VB the DT radical JJ changes NNS in IN the DT Soviet JJ federation NN . . '' ''
The DT committee NN gave VBD the DT government NN until IN Nov. NNP 15 CD  to TO revise VB the DT proposal NN . .
The DT move NN reflected VBD the DT growing VBG confidence NN of IN the DT revamped VBN Supreme NNP Soviet NNP . .
Scott NNP Paper NNP Co. NNP said VBD  it PRP is VBZ abandoning VBG a DT proposed VBN $ $ 650 CD million CD  tree-farming JJ project NN in IN Indonesia NNP because IN it PRP no RB longer RB expects VBZ  to TO use VB as IN much JJ eucalyptus NN pulp NN as RB  previously RB anticipated VBN . .
The DT eucalyptus NN plantation NN and CC pulp NN mill NN , , which WDT  would MD have VB covered VBN about IN 175,000 CD acres NNS in IN the DT Irian NNP Jaya NNP region NN , , had VBD been VBN approved VBN  by IN Indonesia NNP 's POS investment NN board NN . .
But CC it PRP was VBD opposed VBN  by IN some DT environmentalists NNS as IN a DT threat NN to TO Irian NNP Jaya NNP 's POS forests NNS and CC a DT potential JJ source NN of IN social JJ unrest NN for IN the DT primitive JJ tribes NNS who WP  inhabit VBP them PRP . .
Yaohan NNP Departmentstore NNP Co. NNP of IN Japan NNP is VBZ moving VBG its PRP$ international-operations NNS headquarters NNS and CC holding VBG company NN to TO Hong NNP Kong NNP  to TO gain VB from IN the DT British JJ colony NN 's POS economic JJ advantages NNS and CC tax NN structure NN . .
With IN funds NNS of IN 5.56 CD billion CD Hong NNP Kong NNP dollars NNS -LRB- -LRB- US$ $ 712 CD million CD  -RRB- -RRB- , , the DT new JJ company NN , , Yaohan NNP International NNP Co. NNP , , plans VBZ  to TO acquire VB 10 CD of IN Hong NNP Kong NNP 's POS top JJ restaurants NNS . .
It PRP also RB intends VBZ  to TO set VB up RP an DT international JJ wholesale JJ market NN with IN the DT Singapore NNP government NN next IN May NNP and CC  to TO open VB a DT department NN store NN in IN Bangkok NNP and CC shopping NN centers NNS in IN Malaysia NNP , , Taiwan NNP , , Canada NNP , , Chicago NNP and CC Seattle NNP by IN December NNP 1990 CD . .
The DT chain NN currently RB has VBZ 90 CD retail JJ outlets NNS in IN Japan NNP , , seven CD in IN the DT U.S. NNP , , three CD in IN Hong NNP Kong NNP and CC a DT dozen NN more JJR scattered VBN around IN the DT globe NN . .
Major JJ European JJ auction NN houses NNS are VBP turning VBG increasingly RB to TO specialized VBN sales NNS . .
Christie NNP 's POS will MD soon RB have VB a DT sale NN of IN Dada NNP and CC Symbolist NNP art NN while NN Sotheby NNP 's POS is VBZ luring VBG collectors NNS with IN sales NNS of IN Swiss JJ , , German JJ , , Spanish JJ , , Australian JJ and CC Canadian JJ paintings NNS . .
In IN Brussels NNP , , Hotel NNP de IN Ventes NNP Horta NNP auctioned VBD pistols NNS and CC sabers NNS - : along RB with IN paintings NNS and CC jewels NNS . .
Berlin NNP 's POS Villa NNP Grisebach NNP will MD auction VB art NN works NNS with IN pre-sale JJ estimates NNS of IN less RBR than IN $ $ 1,600 CD  on IN Nov. NNP 25 CD . .
The DT auction NN house NN , , known VBN  for IN its PRP$ sales NNS of IN top-drawer NN 19th JJ and CC 20th JJ century NN works NNS , , is VBZ providing VBG `` `` a DT service NN to TO clients NNS who WP  do VBP n't RB want VB  to TO sell VB just RB their PRP$ fabulous JJ oil NN paintings NNS , , '' '' says VBZ  Villa NNP Grisebach NNP 's POS Vivien NNP Reuter NNP . .
Antwerp NNP auctioneer NN Campo NNP is VBZ less RBR concerned VBN with IN market NN niches NNS than IN with IN Belgium NNP 's POS crushing VBG tax NN and CC auction-fee JJ burden NN . .
`` `` Everything NN has VBZ  to TO be VB the DT same JJ between IN countries NNS , , '' '' says VBZ  Campo NNP 's POS Stefan NNP Campo NNP , , who WP  is VBZ asking VBG clients NNS  to TO sign VB protest NN petitions NNS . .
`` `` Then RB there EX 'll MD be VB fair JJ competition NN . . '' ''
 Ending VBG tax-free JJ shopping NN in IN the DT European NNP Community NNP after IN 1992 CD could MD threaten VB more JJR than IN 3,000 CD jobs NNS , , the DT International NNP Duty NNP Free NNP Confederation NNP said VBD  . .
Instead RB of IN  banning VBG such JJ shopping NN , , the DT confederation NN proposed VBD  amending VBG controls NNS  to TO be VB sure JJ  the DT privilege NN is VBZ n't RB abused VBN  ... : . .
British JJ and CC Argentine JJ diplomats NNS opened VBD talks NNS  in IN Madrid NNP aimed VBN  at IN  restoring VBG ties NNS severed VBN  because IN of IN their PRP$ 1982 CD war NN over IN the DT Falkland NNP Islands NNPS . .
Britain NNP 's POS U.N. NNP representative NN and CC delegation NN head NN Crispin NNP Tickell NNP called VBD the DT first JJ meeting NN `` `` good JJ , , interesting JJ and CC businesslike JJ . .
Polaroid NNP Corp. NNP , , benefiting VBG from IN staff-reduction NN savings NNS , , reported VBD a DT strong JJ gain NN in IN third-quarter NN operating VBG results NNS and CC net JJ income NN of IN $ $ 29.9 CD million CD  , , or CC 40 CD cents NNS a DT share NN , , after IN preferred-stock JJ requirements NNS . .
Analysts NNS said VBD  the DT numbers NNS were VBD better JJR than IN expectations NNS , , partly RB because IN of IN strong JJ profit NN margins NNS and CC a DT positive JJ foreign-currency NN translation NN . .
However RB , , they PRP said VBD  the DT company NN 's POS flat JJ revenue NN was VBD a DT disappointment NN , , and CC an DT indication NN that IN sales NNS of IN Polaroid NNP 's POS new JJ conventional JJ film NN in IN the DT U.S. NNP have VBP been VBN sluggish JJ . .
Revenue NN in IN the DT third JJ quarter NN was VBD $ $ 437.7 CD million CD  , , almost RB unchanged JJ from IN $ $ 436.3 CD million CD  a DT year NN earlier RBR . .
Polaroid NNP reported VBD operating VBG profit NN before IN taxes NNS and CC interest NN costs NNS of IN $ $ 63.1 CD million CD  for IN the DT third JJ quarter NN , , more RBR than IN double VB the DT year-before JJ $ $ 24 CD million CD  . .
Charges NNS for IN staff NN cuts NNS and CC other JJ restructuring VBG produced VBN a DT net JJ loss NN of IN $ $ 54.1 CD million CD  , , or CC 77 CD cents NNS a DT share NN , , in IN 1988 CD 's POS third JJ quarter NN . .
`` `` I PRP 'm VBP somewhat RB skeptical JJ about IN the DT underlying VBG demand NN '' '' for IN Polaroid NNP products NNS , , said VBD   Michael NNP Ellmann NNP , , an DT analyst NN with IN Wertheim NNP Schroder NNP & CC Co NNP . .
`` `` If IN you PRP believe VBP that IN a DT good JJ performance NN next JJ year NN is VBZ contingent JJ on IN an DT acceleration NN of IN revenue NN , , there EX is VBZ n't RB a DT lot NN here RB   to TO base JJ optimism NN on IN  . . '' ''
Alex NNP Henderson NNP , , an DT analyst NN with IN Prudential-Bache NNP , , says VBZ  Polaroid NNP officials NNS told VBD him PRP yesterday NN that IN U.S. NNP sales NNS of IN the DT company NN 's POS new JJ conventional JJ film NN product NN , , introduced VBN  in IN the DT second JJ quarter NN , , have VBP been VBN `` `` disappointing JJ '' '' after IN a DT promising JJ start NN . .
Sam NNP Yanes NNP , , a DT Polaroid NNP spokesman NN , , said VBD  `` `` I PRP do VBP n't RB know VB about IN disappointing JJ , , '' '' but CC added VBD that IN the DT company NN has VBZ n't RB been VBN able JJ  to TO get VB the DT product NN on IN the DT shelves NNS of IN some DT mass-merchandise NN , , discount NN retailers NNS that IN it PRP had VBD hoped VBN   would MD be VB carrying VBG the DT product NN already RB . .
Mr. NNP Yanes NNP said VBD  the DT film NN , , One CD Film NNP , , is VBZ currently RB carried VBN at IN about IN 15,000 CD retail JJ outlets NNS , , including VBG drugstores NNS and CC supermarkets NNS . .
For IN the DT nine CD months NNS , , Polaroid NNP reported VBD earnings NNS of IN $ $ 98.5 CD million CD  , , or CC $ $ 1.27 CD  a DT share NN . .
Last JJ year NN , , the DT company NN had VBD a DT nine-month JJ loss NN of IN $ $ 15.1 CD million CD  , , or CC 23 CD cents NNS a DT share NN . .
In IN New NNP York NNP Stock NNP Exchange NNP composite JJ trading NN , , Polaroid NNP closed VBD at IN $ $ 47 CD  , , up IN $ $ 1.125 CD  . .
Why WRB is VBZ the DT stock NN market NN suddenly RB so RB volatile JJ ? .
Yesterday NN , , the DT Dow NNP Jones NNP Industrial NNP Average NNP did VBD a DT now RB familiar JJ dance NN : : It PRP plunged VBD 60.25 CD points NNS before IN lunch NN , , with IN most JJS of IN the DT drop NN occurring VBG in IN 25 CD minutes NNS . .
Then RB , , it PRP rebounded VBD  to TO finish VB down RB only RB 18.65 CD points NNS . .
And CC those DT swings NNS paled VB beside IN Friday NNP 's POS 190.58-point JJ plunge NN and CC Monday NNP 's POS 88.12-point JJ recovery NN . .
`` `` It PRP 's VBZ madness NN -- : that IN in IN an DT hour NN you PRP can MD whack VB off RP so RB much JJ value NN , , '' '' says VBZ  Stanford NNP Calderwood NNP , , chairman NN of IN Trinity NNP Investment NNP Management NNP Corp. NNP , , Boston NNP . .
And CC , , apparently RB , , it PRP is VBZ here RB  to TO stay VB . .
Richard NNP Bernstein NNP , , senior JJ quantitative JJ analyst NN at IN Merrill NNP Lynch NNP & CC Co NNP , , says VBZ , ,  `` `` My PRP$ gut NN feel NN is VBZ that IN we PRP 'll MD live VB with IN those DT swings NNS for IN a DT while NN . . '' ''
There EX are VBP many JJ reasons NNS for IN the DT market NN 's POS jumpiness NN : : new JJ trading NN vehicles NNS such JJ as IN stock-index JJ futures NNS and CC options NNS ; : computer-driven JJ strategies NNS like IN program NN trading NN ; : and CC crowd NN psychology NN . .
But CC most JJS are VBP linked VBN  by IN a DT single JJ theme NN : : liquidity NN -- : the DT ability NN  to TO get VB in IN  and CC out IN of IN  the DT market NN quickly RB . .
Prices NNS are VBP moving VBG up IN and CC down IN so RB fast RB because IN investors NNS are VBP employing VBG ways NNS   to TO turn VB over RP shares NNS at IN ever-faster JJ rates NNS  and CC increasingly RB acting VBG in IN concert NN . .
`` `` Institutions NNS are VBP herding VBG animals NNS , , '' '' says VBZ  Peter NNP Anderson NNP , , who WP  heads VBZ the DT pension-fund JJ management NN arm NN of IN IDS NNP Financial NNP Services NNPS Inc NNP . .
`` `` We PRP watch VBP the DT same JJ indicators NNS and CC listen VBP to TO the DT same JJ prognosticators NNS . .
Like IN lemmings NNS , , we PRP tend VBP  to TO move VB in IN the DT same JJ direction NN at IN same JJ time NN . . '' ''
And CC that IN , , naturally RB , , exacerbates VBZ price NN movements NNS . .
Institutions NNS -- : who WP  now RB account VBP for IN most JJS trading NN -- : count VBP on IN  being VBG able JJ  to TO buy VB and CC sell VB big JJ blocks NNS of IN stock NN at IN an DT eye-blink NN . .
But CC when WRB they PRP discover VBP that IN markets NNS are VBP n't RB always RB as RB liquid JJ as IN they PRP supposed VBD  -- : markets NNS jump VBP . .
On IN Monday NNP , , for IN instance NN , , Howard NNP Ward NNP , , a DT principal NN at IN Scudder NNP , , Stevens NNP & CC Clark NNP , , found VBD that IN `` `` you PRP could MD n't RB buy VB blue-chips NNS at IN quoted VBN prices NNS without IN  paying VBG up IN . . '' ''
And CC when WRB many JJ firms NNS had VBD  to TO `` `` pay VB up IN  , , '' '' Monday NNP 's POS sudden JJ rally NN was VBD sparked VBN  . .
Trading NN in IN futures NNS and CC options NNS , , some DT people NNS believe VBP   , , can MD add VB to TO volatility NN . .
Investors NNS believe VBP  they PRP can MD can MD rely VB on IN such JJ derivative JJ securities NNS  to TO get VB in IN  and CC out IN of IN  the DT stock NN market NN without IN  actually RB selling VBG any DT stocks NNS ; : that DT is VBZ , , a DT way NN of IN  staying VBG liquid JJ even RB when WRB they PRP own VBP stocks NNS  . .
These DT and CC other JJ modern JJ trading NN methods NNS `` `` tend VBP  to TO promote VB dramatic JJ shifts NNS in IN assets NNS , , '' '' says VBZ   George NNP Douglas NNP , , first JJ vice NN president NN at IN Drexel NNP Burnham NNP Lambert NNP Inc NNP . .
`` `` It PRP 's VBZ the DT idea NN that IN what WP  goes VBZ in IN easy RB can MD come VB out IN easy RB '' '' -- : so IN that IN bouts NNS of IN higher JJR volatility NN get VBP  built VBN  into IN the DT stock NN market NN . .
One CD new JJ investment NN style NN called VBN  `` `` asset NN allocation NN '' '' shifts VBZ portfolio NN weightings NNS between IN stocks NNS , , bonds NNS and CC cash NN when WRB computer NN models NNS say VBP  one CD is VBZ more RBR attractive JJ  . .
For IN instance NN , , First NNP Quadrant NNP Corp. NNP , , an DT asset NN allocator NN based VBN  in IN Morristown NNP , , N.J. NNP , , said VBD  it PRP quickly RB boosted VBD stock NN positions NNS in IN its PRP$ `` `` aggressive JJ '' '' accounts NNS to TO 75 CD % NN from IN 55 CD % NN  to TO take VB advantage NN of IN plunging VBG prices NNS Friday NNP . .
It PRP added VBD another DT 5 CD % NN Monday NNP before IN stocks NNS rallied VBD . .
When WRB they PRP did VBD  , , the DT firm NN reduced VBD those DT stock NN holdings NNS to TO about IN 70 CD % NN . .
A DT classic JJ example NN of IN institutions NNS ' POS hunger NN for IN liquidity NN is VBZ portfolio NN insurance NN , , now RB widely RB discredited VBN . .
Before IN the DT 1987 CD crash NN , , an DT estimated VBN $ $ 60 CD billion CD  in IN institutional JJ money NN was VBD managed VBN  under IN this DT hedging VBG technique NN . .
The DT idea NN was VBD  to TO `` `` insure VB '' '' the DT value NN of IN a DT portfolio NN by IN  selling VBG futures NNS when WRB stock NN prices NNS dropped VBD  -- :  eliminating VBG the DT need NN  to TO sell VB the DT stocks NNS themselves PRP . .
But CC in IN October NNP 1987 CD , , when WRB portfolio NN insurers NNS rushed VBD  to TO sell VB at IN the DT same JJ time NN , , they PRP overwhelmed VBD both PDT the DT stock NN and CC futures NNS markets NNS . .
Yet RB even RB today NN , , institutions NNS are VBP quietly RB practicing VBG forms NNS of IN portfolio NN insurance NN by IN  nervously RB rushing VBG to TO and CC fro RB in IN the DT markets NNS . .
Others NNS are VBP doing VBG `` `` index NN arbitrage NN '' '' a DT strategy NN of IN  taking VBG advantage NN of IN price NN discrepancies NNS between IN stocks NNS and CC futures NNS . .
Unlike IN traditional JJ buy-and-hold JJ strategies NNS , , all DT of IN the DT above JJ require VBP that IN market NN makers NNS be VB on IN hand NN  to TO provide VB liquidity NN by IN  buying VBG and CC selling VBG stocks NNS in IN a DT crunch NN . .
But CC institutions NNS say VBP  Wall NNP Street NNP brokerage NN firms NNS are VBP less RBR willing JJ  to TO make VB markets NNS . .
Brokers NNS do VBP n't RB deny VB that IN . .
Wall NNP Street NNP traders NNS say VBP that IN , , with IN institutional JJ brokerage NN commissions NNS far RB lower JJR than IN in IN the DT 1970s CD , , securities NNS firms NNS ca MD n't RB afford VB  to TO take VB the DT risk NN of IN  buying VBG too RB much JJ stock NN . .
`` `` I PRP think VBP  everyone NN 's VBZ a DT little RB more RBR leery JJ , , '' '' says VBZ  Jack NNP Baker NNP , , head NN of IN equity NN trading NN at IN Shearon NNP Lehman NNP Hutton NNP Inc NNP . .
`` `` The DT institutions NNS have VBP driven VBN -LRB- -LRB- commission NN -RRB- -RRB- rates NNS down IN to TO the DT point NN where WRB it PRP  makes VBZ no DT sense NN  to TO commit VB capital NN  , , '' '' says VBZ  Tom NNP Gallagher NNP , , senior JJ executive NN vice NN president NN in IN charge NN of IN institutional JJ trading NN at IN Oppenheimer NNP & CC Co NNP . .
`` `` Why WRB should MD I PRP risk VB money NN for IN a DT guy NN for IN who WP  's VBZ paying VBG me PRP five CD cents NNS a DT dance NN ? .
All DT  you PRP get VBP  is VBZ risk NN . . '' ''
Lack NN of IN liquidity NN can MD also RB result VB from IN exchange NN `` `` reforms NNS . . '' ''
Many JJ traders NNS say VBP that IN `` `` circuit NN breakers NNS '' '' put VBN in IN place NN  to TO damp VB volatility NN after IN the DT 1987 CD crash NN actually RB added VBD to TO volatility NN when WRB the DT stock NN market NN plunged VBD Friday NNP  . .
The DT circuit NN breakers NNS caused VBD a DT 30-minute JJ shutdown NN in IN trading NN in IN Standard NNP & CC Poor NNP 's POS 500-stock JJ index NN futures NNS contract NN as IN the DT markets NNS were VBD falling VBG . .
`` `` With IN the DT futures-trading JJ halt NN , , you PRP could MD only RB sell VB stocks NNS '' ''  to TO cut VB exposure NN to TO the DT market NN , , says VBZ   a DT money NN manager NN . .
`` `` It PRP was VBD scary JJ to TO people NNS thinking VBG that IN they PRP could MD n't RB get VB their PRP$ trades NNS off IN . . '' ''
`` `` It PRP was VBD like IN they PRP put VBD you PRP in IN a DT room NN with IN a DT gorilla NN and CC told VBD you PRP  there EX were VBD three CD doors NNS   to TO exit VB  , , '' '' said VBD  one CD Chicago-based JJ futures NNS trader NN . .
`` `` Then RB they PRP said VBD , , ` ``  By IN the DT way NN , , two CD of IN the DT doors NNS are VBP locked VBN . . ' '' '' ''
The DT takeover NN mania NN also RB adds VBZ to TO volatility NN . .
UAL NNP Corp. NNP is VBZ a DT good JJ example NN . .
 Valued VBN as IN a DT buy-out NN target NN , , the DT airline NN stock NN was VBD trading VBG at IN nearly RB $ $ 280 CD  a DT share NN . .
When WRB the DT deal NN ran VBD into IN trouble NN  , , the DT stock NN tumbled VBD ; : it PRP closed VBD at IN $ $ 198 CD  yesterday NN . .
Presumably RB , , UAL NNP is VBZ now RB trading VBG closer JJR to TO its PRP$ value NN based VBN  on IN earnings NNS . .
By IN contrast NN , , traditional JJ buy-and-hold JJ investors NNS are VBP unlikely JJ  to TO generate VB sudden JJ price NN moves NNS . .
Scott NNP Black NNP , , a DT value-oriented JJ money NN manager NN who WP  heads VBZ Delphi NNP Management NNP Inc. NNP , , points VBZ out RP that IN for IN those DT who WP  invest VBP on IN fundamentals NNS , , `` `` the DT value NN of IN a DT stock NN from IN day NN to TO day NN does VBZ n't RB change VB all RB that RB much RB . . '' ''
Some DT experts NNS say VBP  markets NNS are VBP n't RB as RB volatile JJ as IN  widely RB assumed VBN . .
Hans NNP Stoll NNP , , finance NN professor NN at IN Vanderbilt NNP University NNP , , says VBZ  the DT current JJ volatility NN in IN U.S. NNP markets NNS pales VBZ in IN comparison NN to TO the DT 1930s CD , , decades NNS before IN derivative JJ instruments NNS such JJ as IN options NNS and CC futures NNS were VBD introduced VBN  . .
`` `` I PRP just RB ca MD n't RB believe VB that IN the DT innovations NNS in IN the DT financial JJ market NN are VBP causing VBG any DT of IN this DT volatility NN , , '' '' he PRP says VBZ  . .
And CC Robert NNP D. NNP Arnott NNP , , president NN of IN asset NN allocator NN First NNP Quadrant NNP , , notes VBZ that IN before IN Friday NNP 's POS tailspin NN , , daily JJ volatility NN on IN the DT New NNP York NNP Stock NNP Exchange NNP in IN recent JJ weeks NNS had VBD reached VBN `` `` historically RB low JJ levels NNS . . '' ''
Some DT people NNS tend VBP  to TO ignore VB that IN a DT 50-point JJ move NN is VBZ less JJR in IN percentage NN terms NNS than IN it PRP was VBD  when WRB the DT stock NN market NN was VBD lower JJR  . .
John NNP J. NNP Phelan NNP Jr. NNP , , chairman NN of IN the DT Big NNP Board NNP , , asserts VBZ that IN `` `` 1988 CD and CC 1989 CD have VBP been VBN two CD of IN the DT least JJS volatile JJ years NNS in IN the DT last JJ 30 CD or CC 40 CD years NNS . . '' ''
But CC the DT low JJ average NN volatility NN  Mr. NNP Phelan NNP is VBZ talking VBG about IN  is VBZ n't RB any DT comfort NN in IN a DT period NN of IN rapid JJ stock-market NN moves NNS like IN the DT past NN week NN . .
In IN addition NN , , Sanford NNP Grossman NNP , , a DT Wharton NNP School NNP finance NN professor NN , , says VBZ  volatile JJ jumps NNS in IN stock NN prices NNS will MD continue VB as RB long RB as IN liquidity NN falls VBZ short RB of IN the DT voracious JJ demands NNS of IN institutions NNS `` `` who WP  can MD go VB out IN and CC say VB ` `` I PRP have VBP a DT billion CD dollars NNS of IN stocks NNS   to TO sell VB  . . ' '' '' ''
Some DT people NNS think VBP  the DT search NN for IN liquidity NN is VBZ fruitless JJ . .
In IN 1936 CD , , John NNP Maynard NNP Keynes NNP wrote VBD that IN `` `` of IN the DT maxims NNS of IN orthodox JJ finance NN none NN  , , surely RB , , is VBZ more RBR antisocial JJ than IN the DT fetish NN of IN liquidity NN . . '' ''
It PRP leads VBZ investors NNS  to TO focus VB on IN short-term JJ price NN movements NNS -- : `` `` a DT game NN of IN musical JJ chairs NNS , , '' '' he PRP called VBD it PRP  -- : rather RB than IN on IN long-term JJ fundamental JJ valuation NN . .
James NNP A. NNP White NNP contributed VBD to TO this DT article NN . .
The DT National NNP Aeronautics NNP and CC Space NNP Administration NNP said VBD  a DT computer NN virus NN has VBZ infected VBN one CD of IN its PRP$ networks NNS and CC is VBZ spreading VBG anti-nuclear JJ messages NNS related VBN  to TO its PRP$ Galileo NNP space NN probe NN , , which WDT  is VBZ  to TO be VB launched VBN  today NN . .
Charles NNP Redmond NNP , , a DT NASA NNP spokesman NN , , said VBD  the DT agency NN discovered VBD the DT virus NN on IN Monday NNP on IN the DT collection NN of IN computer NN networks NNS collectively RB called VBN  Internet NN and CC expected VBD 100 CD university NN centers NNS to TO be VB infected VBN  by IN today NN . .
Although IN the DT network NN is VBZ n't RB connected VBN to TO the DT computer NN systems NNS that WDT  operate VBP either DT Galileo NNP or CC the DT shuttle NN , , part NN of IN the DT network NN will MD carry VB analyses NNS of IN Galileo NNP data NNS once IN the DT craft NN gets VBZ spaceborn JJ . .
Mr. NNP Redmond NNP said VBD  the DT intruder NN had VBD n't RB yet RB done VBN any DT harm NN but CC the DT agency NN feared VBD  `` `` garbage NN data NNS could MD be VB substituted VBN  for IN real JJ data NNS . . '' ''
He PRP estimated VBD  it PRP  could MD take VB a DT day NN for IN a DT computer NN security NN manager NN to TO expunge VB the DT virus NN from IN a DT computer NN system NN . .
The DT intruder NN , , among IN the DT broadest JJS yet RB   to TO hit VB a DT research NN network NN , , appeared VBD  to TO affect VB only JJ Digital NNP Equipment NNP Corp. NNP hardware NN that WDT  uses VBZ Digital NNP 's POS VAX\/VMS NNP operating VBG system NN . .
It PRP is VBZ unrelated JJ to TO the DT much-publicized JJ virus NN that IN  last JJ year NN infected VBD Arpanet NNP , , a DT much RB larger JJR network NN used VBN  by IN researchers NNS at IN universities NNS , , laboratories NNS and CC government NN agencies NNS around IN the DT world NN . .
In IN the DT lingo NN of IN computer NN security NN , , the DT NASA NNP intruder NN is VBZ technically RB a DT computer NN worm NN , , Mr. NNP Redmond NNP said VBD   . .
A DT worm NN resides VBZ in IN the DT operating VBG system NN of IN a DT computer NN and CC spreads VBZ by IN  boring VBG into IN other JJ computers NNS contacted VBN  through IN networks NNS . .
The DT Galileo NNP worm NN apparently RB was VBD hatched VBN  on IN a DT computer NN in IN France NNP hooked VBD up RP to TO NASA NNP 's POS Space NNP Physics NNP Analysis NNP Network NNP , , Mr. NNP Redmond NNP said VBD   . .
NASA NNP said VBD  the DT Galileo NNP worm NN had VBD n't RB affected VBN its PRP$ computers NNS or CC the DT computers NNS of IN other JJ government NN agencies NNS because IN they PRP had VBD modified VBN their PRP$ systems NNS  to TO reject VB worms NNS . .
But CC Mr. NNP Redmond NNP said VBD  the DT worm NN hit VBD universities NNS that WDT  had VBD n't RB elected VBN  to TO make VB the DT changes NNS . .
Michael NNP Alexander NNP , , a DT senior JJ editor NN at IN Computerworld NNP , , a DT trade NN publication NN , , said VBD  he PRP was VBD told VBN  that IN the DT worm NN gets VBZ into IN a DT computer NN center NN by IN  looking VBG for IN obvious JJ passwords NNS -- : such JJ as IN ones NNS that WDT  are VBP the DT same JJ as IN the DT user NN 's POS name NN . .
If IN it PRP finds VBZ one CD and CC gets VBZ into IN the DT system NN , , it PRP will MD display VB a DT screen NN  when WRB a DT user NN logs VBZ on RP  that DT  says VBZ , , `` `` Worms NNPS Against NNP Nuclear NNP Killers NNPS ... : . .
You PRP talk VBP of IN times NNS of IN peace NN for IN all DT , , and CC then RB prepare VBP for IN war NN . . '' ''
In IN addition NN , , Mr. NNP Alexander NNP said VBD   , , the DT worm NN sends VBZ strange JJ messages NNS  to TO other JJ machines NNS at IN the DT center NN -- : such JJ as IN , , `` `` George NNP Orwell NNP was VBD an DT optimist NN , , '' '' or CC `` ``  Do VB n't RB feed VB the DT bats NNS tonight RB . . '' ''
The DT worm NN also RB looks VBZ for IN elementary JJ passwords NNS that WDT  confer VBP more JJR privileges NNS on IN the DT user NN . .
The DT passwords NNS are VBP included VBN in IN the DT system NN software NN when WRB it PRP is VBZ installed VBN   but CC are VBP supposed VBN  to TO be VB replaced VBN  as RB soon RB as IN the DT system NN is VBZ up IN and CC running VBG . .
If IN it PRP finds VBZ one CD of IN those DT passwords NNS , , Mr. NNP Alexander NNP said VBD   , , the DT worm NN will MD do VB such JJ things NNS as IN  change NN users NNS ' POS passwords NNS to TO a DT series NN of IN random JJ numbers NNS , ,  preventing VBG them PRP from IN  signing VBG on RP to TO the DT network NN . .
NASA NNP estimated VBD that IN , , on IN Monday NNP , , about IN four CD computer NN centers NNS were VBD affected VBN  . .
Yesterday NN , , the DT number NN grew VBD to TO 40 CD ; : today NN the DT number NN is VBZ expected VBN  to TO grow VB to TO 100 CD . .
NASA NNP said VBD  it PRP will MD take VB about IN a DT week NN before IN it PRP knows VBZ exactly RB how WRB many JJ centers NNS of IN the DT 6,000 CD connected VBN  to TO Internet NNP  were VBD affected VBN  and CC the DT extent NN of IN the DT damage NN , , if IN any DT . .
Anti-nuclear JJ activists NNS have VBP protested VBN the DT launch NN of IN the DT Galileo NNP space NN probe NN to TO Jupiter NNP because IN it PRP uses VBZ plutonium NN  to TO generate VB the DT electricity NN needed VBN  to TO run VB the DT craft NN . .
Activists NNS fear VBP that IN if IN the DT shuttle NN carrying VBG Galileo NNP into IN orbit NN should MD explode VB , , or CC if IN Galileo NNP itself PRP crashes VBZ into IN the DT Earth NN during IN the DT two CD times NNS  it PRP flies VBZ close RB to TO the DT planet NN , , fatal JJ levels NNS of IN plutonium NN would MD be VB released VBN  into IN the DT atmosphere NN . .
So IN far RB Galileo NNP has VBZ been VBN delayed VBN  twice RB , , once RB because IN of IN a DT computer NN malfunction NN connected VBN  with IN a DT space-shuttle NN engine NN , , and CC yesterday NN because IN of IN the DT weather NN . .
NASA NNP said VBD  the DT Galileo NNP worm NN had VBD nothing NN   to TO do VB  with IN either DT delay NN . .
Mr. NNP Alexander NNP of IN Computerworld NNP said VBD  hackers NNS have VBP gone VBN after IN SPAN NNP before IN . .
He PRP said VBD  the DT Chaos NNP Computer NNP Club NNP , , of IN West NNP Germany NNP , , once RB managed VBD  to TO invade VB SPAN NNP and CC do VB such JJ things NNS as IN   change VB the DT value NN of IN pi NN , ,  messing VBG up RP some DT calculations NNS . .
It PRP  is VBZ now RB a DT commonplace NN that IN prosecutors NNS are VBP bringing VBG criminal JJ indictments NNS in IN cases NNS where WRB until IN a DT few JJ years NNS ago IN only RB a DT civil JJ action NN at IN most RBS would MD have VB been VBN brought VBN   . .
Yet CC it PRP  is VBZ also RB axiomatic JJ that IN the DT power NN  to TO create VB new JJ crimes NNS belongs VBZ only RB to TO the DT legislature NN , , and CC not RB to TO courts NNS . .
Beginning VBG in IN the DT early JJ 19th JJ century NN , , with IN U.S. NNP v. CC Hudson NNP and CC Goodwin NNP , , the DT Supreme NNP Court NNP has VBZ repeatedly RB held VBN that IN a DT judicial JJ power NN  to TO declare VB conduct NN  to TO be VB against IN the DT public JJ interest NN and CC hence RB criminal JJ , , while IN  well RB established VBN in IN British JJ law NN , , would MD usurp VB legislative JJ authority NN under IN the DT doctrine NN of IN separation NN of IN powers NNS . .
That DT 's VBZ the DT conventional JJ theory NN anyway RB . .
In IN practice NN , , however RB , , the DT line NN between IN interpretation NN and CC redefinition NN of IN the DT criminal JJ law NN long RB ago RB began VBD  to TO blur VB . .
In IN particular JJ , , a DT common JJ law NN of IN white-collar JJ crime NN has VBZ developed VBN with IN surprising JJ rapidity NN over IN the DT past JJ decade NN . .
For IN example NN , , although IN insider NN trading NN has VBZ long RB been VBN criminal JJ , , it PRP has VBZ never RB been VBN statutorily RB defined VBN  . .
In IN 1983 CD , , the DT Supreme NNP Court NNP tried VBD  to TO supply VB a DT workable JJ definition NN in IN the DT Dirks NNS v. CC SEC NNP decision NN , , which WDT  found VBD that DT liability NN depended VBD on IN whether IN the DT tipper NN had VBD breached VBN his PRP$ fiduciary JJ duty NN to TO the DT corporation NN in IN order NN  to TO obtain VB `` `` some DT personal JJ gain NN '' '' and CC whether IN the DT tippee NN knew VBD  or CC recklessly RB disregarded VBD  this DT fact NN . .
Gradually RB , , however RB , , lower JJR courts NNS and CC prosecutors NNS have VBP pushed VBN this DT definition NN to TO its PRP$ breaking NN point NN . .
 Consider VB the DT facts NNS underlying VBG the DT 1989 CD conviction NN of IN Robert NNP Chestman NNP . .
Prior RB to TO a DT tender NN offer NN by IN A&P NNP for IN Waldbaum NNP Inc. NNP in IN 1986 CD , , the DT founder NN of IN the DT Waldbaum NNP 's POS supermarket NN chain NN called VBD an DT elderly JJ relative NN  to TO tell VB her PRP  to TO assemble VB her PRP$ stock NN certificates NNS for IN delivery NN . .
She PRP called VBD her PRP$ daughter NN   to TO take VB her PRP to TO the DT bank NN , , who WP , , in IN turn NN , ,  persuaded VBD her PRP husband NN , , a DT Mr. NNP Loeb NNP , ,  to TO run VB this DT errand NN . .
 Hearing VBG of IN this DT information NN , , the DT husband NN discussed VBD it PRP with IN his PRP$ broker NN , , Mr. NNP Chestman NNP , , and CC Mr. NNP Chestman NNP then RB bought VBD for IN his PRP$ own JJ account NN and CC other JJ clients NNS . .
Basically RB , , Mr. NNP Chestman NNP was VBD a DT fourth-level JJ tippee NN . .
Did VBD Mr. NNP Loeb NNP , , his PRP$ tipper NN , , breach VB a DT fiduciary JJ duty NN -LRB- -LRB- and CC , , if IN so RB , , to TO whom WP -RRB- -RRB- ? .
Did VBD Mr. NNP Loeb NNP seek VB personal JJ gain NN -LRB- -LRB- and CC if IN so RB , , how WRB -RRB- -RRB- ? .
Or CC did VBD Mr. NNP Chestman NNP only RB hear VB a DT market NN rumor NN -LRB- -LRB- which WDT one NN may MD lawfully RB trade VB upon IN  -RRB- -RRB- ? .
The DT line NN seems VBZ awfully RB thin JJ for IN criminal-law NN purposes NNS . .
A DT second JJ illustration NN is VBZ supplied VBN  by IN the DT recent JJ guilty JJ plea NN entered VBN  by IN Robert NNP Freeman NNP , , formerly RB head NN of IN arbitrage NN at IN Goldman NNP , , Sachs NNP & CC Co NNP . .
Essentially RB , , Mr. NNP Freeman NNP had VBD invested VBN heavily RB in IN the DT Beatrice NNP leveraged JJ buy-out NN , , when WRB he PRP was VBD told VBN  by IN another DT prominent JJ trader NN , , Bernard NNP `` `` Bunny NNP '' '' Lasker NNP , , that IN the DT deal NN was VBD in IN trouble NN  . .
After IN  placing VBG orders NNS  to TO sell VB , , Mr. NNP Freeman NNP called VBD Martin NNP Siegel NNP , , an DT investment NN banker NN at IN Kidder NNP , , Peabody NNP & CC Co. NNP , , who WP  was VBD advising VBG on IN the DT deal NN , ,  to TO confirm VB these DT rumors NNS . .
Mr. NNP Siegel NNP asked VBD Mr. NNP Freeman NNP who WP his PRP$ source NN was VBD  and CC , , on IN  hearing NN that IN it PRP was VBD Bunny NNP Lasker NNP , , responded VBD : : `` ``  Well UH , , your PRP$ bunny NN has VBZ a DT good JJ nose NN . . '' ''
The DT illegal JJ `` `` tip NN '' '' of IN the DT bunny NN 's POS good JJ nose NN was VBD then RB largely RB a DT confirmation NN of IN rumors NNS already RB known VBN  to TO many JJ in IN the DT market NN . .
Had VBD the DT case NN gone VBN to TO trial NN the DT same JJ issues NNS would MD have VB surfaced VBN : :
Was VBD there RB a DT fiduciary JJ breach NN in IN order NN  to TO obtain VB personal JJ gain NN ? .
Did VBD Mr. NNP Freeman NNP have VB notice VB of IN this DT ? .
Finally RB , , was VBD the DT information NN material NN ? .
Yet RB , , all PDT these DT issues NNS are VBP subsidiary JJ to TO a DT more JJR central JJ issue NN : : Who WP  is VBZ  and CC who WP  should MD be VB  making VBG the DT criminal JJ law NN here RB ? .
It PRP  is VBZ not RB my PRP$ contention NN that IN either DT Mr. NNP Chestman NNP or CC Mr. NNP Freeman NNP was VBD an DT innocent JJ victim NN of IN prosecutorial JJ overzealousness NN . .
Arguably RB , , both DT were VBD on IN notice NN that IN their PRP$ behavior NN was VBD at IN least JJS risky JJ . .
But CC even RB if IN they PRP behaved VBD recklessly RB , , reasons NNS  still RB exist VBP  to TO fear VB and CC resist VB this DT steady JJ process NN of IN case-by-case JJ judicial JJ extension NN of IN the DT law NN of IN insider NN trading NN . .
Courts NNS and CC legislatures NNS make VBP decisions NNS in IN very JJ different JJ ways NNS and CC are VBP each DT susceptible JJ to TO very RB different JJ kinds NNS of IN errors NNS . .
After-the-fact JJ judicial JJ examination NN of IN an DT actor NN 's POS conduct NN has VBZ always RB been VBN the DT common JJ law NN 's POS method NN . .
When WRB only RB civil JJ liability NN is VBZ involved VBN   , , this DT method NN has VBZ the DT undeniable JJ strengths NNS of IN factual JJ specificity NN and CC avoidance NN of IN overgeneralization NN . .
Still RB , , case-by-case JJ retrospective NN decision NN making NN of IN this DT sort NN is VBZ vulnerable JJ to TO the DT tunnel NN vision NN caused VBN  by IN a DT fixation NN on IN ad FW hoc FW -LRB- -LRB- and CC usually RB sleazy JJ -RRB- -RRB- examples NNS . .
When WRB a DT court NN decides VBZ that IN a DT particular JJ actor NN 's POS conduct NN was VBD culpable JJ and CC so RB extends VBZ the DT definition NN of IN insider NN trading NN  to TO reach VB this DT conduct NN  , , it PRP does VBZ not RB see VB the DT potentially RB enormous JJ number NN of IN other JJ cases NNS that WDT  will MD be VB covered VBN  by IN the DT expanded VBN rule NN . .
Thus RB , , a DT court NN is VBZ poorly RB positioned VBN  to TO make VB judgments NNS about IN the DT social JJ utility NN of IN the DT expanded VBN rule NN . .
For IN example NN , , in IN  focusing VBG on IN Mr. NNP Freeman NNP 's POS attempt NN  to TO gain VB nonpublic JJ information NN about IN a DT deal NN 's POS collapse NN , , one NN does VBZ not RB naturally RB think VB about IN the DT reverse JJ side NN of IN the DT coin NN : : What WP if IN the DT rumor NN had VBD been VBN false JJ ? .
Can MD a DT security NN analyst NN call VB an DT investment NN banker NN  to TO make VB certain JJ that IN a DT seemingly RB improbable JJ rumor NN is VBZ in IN fact NN false JJ ? .
In IN the DT past NN , , not RB only RB would MD reputable JJ professionals NNS have VBP rushed VBN  to TO check VB out RP such JJ rumors NNS with IN the DT company NN , , but CC companies NNS listed VBN  on IN the DT major JJ stock NN exchanges NNS were VBD encouraged VBN by IN the DT exchanges NNS  to TO respond VB openly RB to TO such JJ inquiries NNS from IN securities NNS analysts NNS . .
Today NN , , after IN Mr. NNP Freeman NNP 's POS plea NN , , there EX is VBZ an DT uncertainty NN that WDT  is VBZ both DT unfair JJ and CC inefficient JJ . .
In IN this DT light NN , , the DT comparative JJ advantages NNS of IN legislative JJ law-making NNS become VBP clear JJ : : -LRB- -LRB- 1 LS -RRB- -RRB- Before IN it PRP acts VBZ , , the DT legislature NN typically RB will MD hear VB the DT views NNS of IN representatives NNS of IN all PDT those DT affected VBN  by IN its PRP$ decision NN , , not RB just RB the DT immediate JJ parties NNS before IN the DT court NN ; : and CC -LRB- -LRB- 2 LS -RRB- -RRB- the DT legislature NN can MD frame VB `` `` bright JJ line NN '' '' standards NNS that WDT  create VBP less JJR uncertainty NN than IN the DT fact-bound JJ decisions NNS of IN courts NNS . .
Although IN legislative JJ lines NNS can MD result VB in IN under-inclusion NN -LRB- -LRB- which WDT  explains VBZ why WRB the DT SEC NNP has VBZ long RB resisted VBN a DT legislative JJ definition NN of IN insider NN trading NN -RRB- -RRB- , , judicial JJ lawmaking NN inevitably RB creates VBZ uncertainty NN because IN of IN the DT shadowy JJ outer JJ edges NNS and CC implications NNS of IN most JJS judicial JJ decisions NNS . .
At IN least JJS when WRB the DT stakes NNS are VBP high JJ  , , uncertainty NN in IN turn NN results VBZ in IN overinclusion NN , , as IN individuals NNS do VBP not RB dare VB  to TO approach VB an DT uncertain JJ line NN closely RB . .
The DT federal JJ mail NN and CC wire NN fraud NN statutes NNS provide VBP even RB better JJR illustrations NNS of IN the DT rapid JJ evolution NN of IN a DT federal JJ common JJ law NN of IN white-collar JJ crime NN . .
In IN 1987 CD , , the DT Supreme NNP Court NNP attempted VBD in IN McNally RB v. CC U.S. NNP  to TO halt VB the DT inexorable JJ expansion NN of IN these DT statutes NNS by IN  adopting VBG a DT rule NN of IN strict JJ construction NN for IN ambiguous JJ criminal JJ statues NNS . .
Yet RB , , late JJ last JJ year NN , , Congress NNP effectively RB reversed VBD this DT decision NN by IN  enacting VBG a DT one-sentence JJ statute NN that WDT  defined VBD fraud NN  to TO include VB any DT scheme NN  to TO deprive VB another DT of IN `` `` the DT intangible JJ right NN of IN honest JJ services NNS . . '' ''
At IN a DT stroke NN , , this DT may MD criminalize VB all DT fiduciary JJ breaches NNS -LRB- -LRB- and CC possibly RB all DT misrepresentations NNS by IN an DT agent NN or CC employee NN -RRB- -RRB- . .
Such PDT a DT statute NN illustrates VBZ the DT fundamental JJ problem NN : : Congress NNP finds VBZ  it PRP  is VBZ easier JJR   to TO pass VB sweepingly RB moralistic JJ prohibitions NNS , , which WDT the DT courts NNS must MD thereafter RB interpret VB  , , than IN  to TO engage VB in IN the DT difficult JJ line-drawing JJ distinctions NNS that WDT  are VBP inherently RB its PRP$ responsibility NN . .
We PRP are VBP confronted VBN  less RBR with IN a DT judicial JJ power NN grab NN than IN with IN a DT legislative JJ giveaway NN . .
Predictably RB , , when WRB  confronted VBN with IN morally RB dubious JJ behavior NN  , , prosecutors NNS will MD exploit VB the DT latitude NN  such JJ openended VBN statutes NNS give VBP them PRP  . .
Over IN the DT long JJ run NN , , however RB , , sleazy JJ cases NNS will MD make VB bad JJ law NN . .
Mr. NNP Coffee NNP is VBZ a DT professor NN at IN Columbia NNP Law NNP School NNP . .
Corning NNP Inc. NNP posted VBD a DT 38 CD % NN decline NN in IN third-quarter NN net JJ income NN to TO $ $ 76.5 CD million CD  , , or CC 80 CD cents NNS a DT share NN , , from IN $ $ 123.9 CD million CD  , , or CC $ $ 1.37 CD  a DT share NN , , a DT year NN earlier RBR . .
The DT year-earlier JJ figure NN included VBD a DT one-time JJ gain NN of IN $ $ 59.9 CD million CD  from IN the DT sale NN of IN Corning NNP 's POS stakes NNS in IN Japanese JJ businesses NNS . .
Without IN the DT gain NN , , operating VBG profit NN was VBD $ $ 64 CD million CD  , , or CC 71 CD cents NNS a DT share NN . .
The DT telecommunications NNS , , specialty NN glass NN , , ceramic JJ products NNS and CC laboratory-services JJ concern NN said VBD  the DT latest JJS quarter NN included VBD a DT tax-loss NN carry-forward NN of IN $ $ 600,000 CD  . .
A DT year NN earlier RBR , , net NN included VBD a DT $ $ 700,000 CD  taxlow NN carry-forward NN . .
Sales NNS rose VBD 14 CD % NN to TO $ $ 715 CD million CD  from IN $ $ 625.4 CD million CD  . .
Corning NNP 's POS chairman NN and CC chief NN executive NN officer NN , , James NNP R. NNP Houghton NNP , , said VBD  operating VBG performance NN continued VBD  to TO be VB strong JJ in IN the DT telecommunications NNS and CC health NN and CC science NN segments NNS . .
But CC the DT specialty-material JJ segment NN slowed VBD somewhat RB and CC consumer NN products NNS continued VBD below IN expectations NNS . .
As IN for IN joint JJ ventures NNS , , Mr. NNP Houghton NNP said VBD  profit NN was VBD `` `` essentially RB flat JJ '' '' due JJ primarily RB to TO a DT slow JJ recovery NN at IN Samsung-Corning NNP Co. NNP in IN Korea NNP following VBG a DT strike NN at IN a DT major JJ customer NN and CC the DT disruption NN of IN shipments NNS to TO China NNP . .
Also RB , , profit NN was VBD hurt VBN  by IN the DT strength NN of IN the DT dollar NN overseas NN which WDT  negatively RB affected VBD the DT company NN 's POS currency-exchange JJ rate NN . .
In IN New NNP York NNP Stock NNP Exchange NNP composite JJ trading NN , , Corning NNP closed VBD at IN $ $ 38.50 CD  , , down IN 75 CD cents NNS . .
UAL NNP , , the DT hair-trigger JJ stock NN that WDT  exploded VBD Friday NNP 's POS market NN bombshell NN , , briefly NN traumatized VBD traders NNS again RB yesterday NN . .
Within IN 10 CD minutes NNS after IN an DT 11:13 CD a.m. NN trading NN halt NN in IN UAL NNP , , parent NN of IN United NNP Airlines NNPS , , the DT Dow NNP Jones NNP Industrial NNP Average NNP plunged VBD nearly RB 27 CD points NNS to TO a DT 60.25-point JJ deficit NN . .
Computer-guided JJ buying NN then RB kicked VBD in IN , , and CC the DT industrials NNS regained VBD 27 CD points NNS in IN five CD minutes NNS . .
The DT lightning NN moves NNS show VBP that IN the DT stock NN market NN remains VBZ fragile JJ and CC volatile JJ -- : ready JJ  to TO jump VB at IN the DT slightest JJS rumor NN -- : a DT few JJ days NNS after IN its PRP$ shocking JJ 190.58-point JJ plunge NN . .
Nervous JJ investors NNS continued VBD  to TO limit VB their PRP$ buying NN to TO blue-chip JJ stocks NNS while IN  dumping VBG takeover-related JJ issues NNS . .
The DT industrial JJ average NN closed VBD down RB 18.65 CD , , to TO 2638.73 CD . .
New NNP York NNP Stock NNP Exchange NNP volume NN was VBD a DT heavy JJ 224,070,000 CD shares NNS . .
Decliners NNS on IN the DT Big NNP Board NNP outnumbered VBD advancers NNS , , 931 CD to TO 658 CD . .
UAL NNP was VBD watched VBN  closely RB and CC traded VBD  heavily RB . .
The DT stock NN tumbled VBD 24 CD 7\/8 CD to TO 198 CD on IN volume NN of IN 2.8 CD million CD shares NNS . .
The DT market NN is VBZ still RB very RB touchy JJ about IN rumors NNS and CC news NN on IN pending VBG takeovers NNS . .
UAL NNP , , which WDT  is VBZ trying VBG  to TO reconstruct VB a DT buy-out NN bid NN that IN banks NNS would MD n't RB finance VB  , , represents VBZ the DT future NN of IN one CD of IN the DT most RBS powerful JJ ingredients NNS in IN the DT bull NN market NN - : corporate JJ restructuring NN . .
An DT important JJ element NN of IN this DT phenomenon NN -- : the DT now-shaky JJ market NN for IN junk NN bonds NNS , , used VBN  often RB  to TO finance VB restructurings NNS and CC takeovers NNS -- : continued VBD  to TO cast VB a DT pall NN over IN stocks NNS . .
`` `` It PRP was VBD a DT very RB nervous JJ day NN , , '' '' said VBD  John NNP Geary NNP , , partner NN of IN the DT Big NNP Board NNP specialist NN firm NN Ziebarth NNP , , Geary NNP . .
The DT volatility NN wo MD n't RB end VB soon RB . .
This DT Friday NNP brings VBZ the DT `` `` double JJ witching NN hour NN , , '' '' Wall NNP Street NNP 's POS nickname NN for IN the DT monthly JJ simultaneous JJ expiration NN of IN a DT variety NN of IN stock NN index NN futures NNS , , index NN options NNS and CC options NNS on IN individual JJ stocks NNS . .
Traders NNS are VBP already RB buckling VBG their PRP$ seat NN belts NNS . .
Previous JJ monthly JJ expirations NNS of IN the DT Major NNP Market NNP Index NNP futures NNS and CC Standard NNP & CC Poor NNP 's POS 100-stock JJ index NN options NNS have VBP produced VBN spectacular JJ volatility NN . .
`` `` We PRP are VBP in IN one CD of IN those DT phases NNS where WRB you PRP are VBP going VBG  to TO get VB a DT lot NN of IN volatile JJ expiration NN action NN  , , '' '' said VBD  Donald NNP Selkin NNP , , head NN of IN stock-index JJ research NN at IN Prudential-Bache NNP Securities NNPS . .
Investors NNS were VBD buying VBG yesterday NN , , but CC they PRP were VBD running VBG scared VBN to TO premier JJ blue JJ chips NNS such JJ as IN Procter NNP & CC Gamble NNP , , which WDT  jumped VBD 3 CD 3\/8 CD to TO 127 CD . .
Investors NNS `` `` are VBP buying VBG stocks NNS that WDT  have VBP predictable JJ earnings NNS , , '' '' said VBD   Edward NNP J. NNP Laux NNP , , head NN of IN block NN trading NN at IN Kidder NNP Peabody NNP . .
Along IN the DT way NN , , investors NNS dumped VBD takeover NN stocks NNS and CC shares NNS of IN banks NNS that WDT  have VBP leveraged-buy-out JJ debt NN and CC risky JJ real JJ estate NN loans NNS on IN their PRP$ books NNS . .
`` `` These DT loans NNS are VBP more JJR of IN a DT focus NN than IN lesser-developed-country JJ debt NN now RB , , '' '' said VBD  William NNP Bee NNP , , senior JJ block NN trader NN at IN Prudential-Bache NNP Securities NNPS . .
Chase NNP Manhattan NNP , , which WDT  sold VBD 14 CD million CD additional JJ shares NNS at IN 40 CD 1\/8 CD Monday NNP through IN an DT underwriting VBG group NN led VBN  by IN Goldman NNP Sachs NNP , , closed VBN down RB 1\/8 CD to TO 40 CD . .
Citicorp NNP fell VBD 1\/2 CD to TO 32 CD , , and CC Manufacturers NNPS Hanover NNP slipped VBD 3\/8 CD to TO 40 CD 1\/4 CD . .
Chase NNP and CC Citicorp NNP 's POS Citibank NNP are VBP involved VBN  in IN the DT UAL NNP buy-out NN financing NN . .
Both DT Citicorp NNP and CC Manufacturers NNPS Hanover NNP reported VBD earnings NNS yesterday NN . .
In IN the DT first JJ hour NN of IN trading NN , , about IN one CD million CD shares NNS a DT minute NN changed VBD hands NNS on IN the DT Big NNP Board NNP as IN big JJ stock-index JJ arbitrage NN sell NN programs NNS pushed VBD prices NNS lower JJR . .
-LRB- -LRB- In IN stock-index JJ arbitrage NN , , traders NNS buy VBP or CC sell VBP big JJ baskets NNS of IN stocks NNS against IN offsetting VBG positions NNS in IN futures NNS . . -RRB- -RRB-
Traders NNS said VBD  many JJ of IN the DT sell NN programs NNS are VBP positions NNS being VBG established VBN ahead RB of IN this DT Friday NNP 's POS expiration NN . .
Aside RB from IN computer-guided JJ selling NN , , airline NN stocks NNS took VBD a DT beating NN as RB well RB . .
The DT Dow NNP Jones NNP Transportation NNP Average NNP fell VBD 49.96 CD  to TO close VB at IN 1254.27 CD . .
AMR NNP , , the DT parent NN of IN American NNP Airlines NNPS , , continued VBD  to TO retreat VB in IN the DT wake NN of IN New NNP York NNP developer NN Donald NNP Trump NNP 's POS decision NN  to TO withdraw VB his PRP$ $ $ 120-a-share JJ  takeover NN bid NN . .
The DT stock NN fell VBD 3 CD 1\/4 CD to TO 73 CD 1\/4 CD on IN 3.4 CD million CD shares NNS . .
Delta NNP Air NNP Lines NNPS fell VBD 1 CD 7\/8 CD to TO 67 CD 7\/8 CD , , USAir NNP Group NNP dropped VBD 3\/4 CD to TO 40 CD 1\/4 CD , , Southwest NNP Airlines NNPS dipped VBD 1\/2 CD to TO 25 CD and CC Alaska NNP Air NNP Group NNP slid VBD 3\/8 CD to TO 24 CD 1\/4 CD . .
But CC Texas NNP Air NNP , , the DT owner NN of IN Continental NNP and CC Eastern NNP airlines NNS , , bucked VBD the DT group NN 's POS decline NN by IN  rising VBG 7\/8 CD to TO 14 CD 5\/8 CD in IN American NNP Stock NNP Exchange NNP trading NN . .
Eastern NNP said VBD  it PRP is VBZ ahead RB of IN schedule NN in IN  resuming VBG its PRP$ operations NNS after IN  filing VBG earlier RBR this DT year NN for IN Chapter NN 11 CD bankruptcy NN protection NN , , from IN which WDT it PRP expects VBZ  to TO emerge VB early JJ next JJ year NN  . .
Philip NNP Morris NNP , , the DT most RBS active JJ Big NNP Board NNP issue NN for IN the DT second JJ consecutive JJ session NN , , was VBD unchanged JJ at IN 43 CD 1\/4 CD on IN 3.9 CD million CD shares NNS . .
Other JJ blue-chip JJ consumer NN issues NNS also RB fared VBD relatively RB well RB : : PepsiCo NNP rose VBD 1 CD 3\/8 CD to TO 58 CD 1\/2 CD ; : Coca-Cola NNP Co. NNP was VBD unchanged JJ at IN 66 CD 3\/4 CD ; : McDonald NNP 's POS also RB closed VBD unchanged JJ at IN 30 CD 1\/2 CD , , and CC Merck NNP rose VBD 1\/2 CD to TO 75 CD 1\/4 CD . .
Broader JJR averages NNS also RB fell VBD . .
Standard NNP & CC Poor NNP 's POS 500-stock JJ index NN fell VBD 1.69 CD to TO 341.16 CD , , and CC the DT New NNP York NNP Stock NNP Exchange NNP Composite NNP Index NNP fell VBD 0.88 CD to TO 188.89 CD . .
Among IN the DT takeover-related JJ stocks NNS that WDT  sold VBD off IN yesterday NN were VBD  Disney NNP , , which WDT  closed VBD down RB 2 CD 1\/8 CD to TO 121 CD 1\/4 CD . .
Philips NNP Industries NNPS tumbled VBD 3\/8 CD to TO 22 CD 7\/8 CD ; : Hilton NNP Hotels NNPS fell VBD 2 CD 1\/2 CD to TO 92 CD and CC Holiday NNP Corp. NNP fell VBD 2 CD 1\/8 CD to TO 69 CD 7\/8 CD . .
Among IN other JJ blue JJ chips NNS , , Exxon NNP gained VBD 1\/8 CD to TO 45 CD 1\/2 CD . .
International NNP Paper NNP fell VBD 1 CD 3\/8 CD to TO 51 CD 1\/2 CD , , Union NNP Carbide NNP eased VBD 7\/8 CD to TO 25 CD , , Chevron NNP gained VBD 1\/8 CD to TO 64 CD , , and CC Eastman NNP Kodak NNP closed VBD down RB 3\/4 CD to TO 44 CD 1\/4 CD . .
The DT only JJ industry NN group NN   to TO show VB a DT gain NN from IN the DT industrial JJ average NN 's POS record NN high JJ on IN Oct. NNP 9 CD is VBZ restaurants NNS . .
Among IN the DT three CD worst-performing JJ groups NNS , , with IN declines NNS of IN 10 CD % NN to TO 20 CD % NN  , , are VBP  airlines NNS , , casinos NNS and CC securities NNS brokers NNS . .
Trading NN also RB was VBD heavy JJ in IN the DT over-the-counter JJ market NN . .
The DT Nasdaq NNP composite JJ index NN closed VBD down RB 1.05 CD to TO 459.93 CD on IN volume NN of IN 161.5 CD million CD shares NNS . .
`` `` The DT environment NN is VBZ a DT lot NN more RBR trading-oriented JJ , , '' '' said VBD  Gary NNP Rosenbach NNP , , manager NN of IN equity NN trading NN at IN the DT OTC NNP stock NN firm NN Needham NNP & CC Co. NNP in IN New NNP York NNP . .
`` `` Because IN there EX is VBZ a DT lot RB more JJR volatility NN now RB , , if IN guys NNS see VBP that IN they PRP can MD make VB a DT quick JJ 10 CD % NN or CC 15 CD % NN  profit NN , , they PRP 'll MD take VB it PRP . . '' ''
Compaq NNP Computer NNP gained VBD 2 CD 1\/8 CD to TO 103 CD 3\/4 CD on IN two CD million CD shares NNS , ,  reflecting VBG market NN optimism NN about IN the DT prospects NNS for IN its PRP$ newly RB introduced VBN notebook-sized JJ computer NN . .
B.F. NNP Goodrich NNP dropped VBD 1 CD 3\/8 CD to TO 49 CD 1\/8 CD . .
The DT company NN 's POS third-quarter NN earnings NNS were VBD below IN both DT analysts NNS ' POS forecasts NNS and CC the DT year-earlier JJ level NN . .
Blue NNP Arrow NNP added VBD 1\/2 CD to TO 17 CD 1\/4 CD . .
The DT British JJ company NN plans VBZ  to TO change VB its PRP$ name NN to TO Manpower NNP , , the DT name NN of IN its PRP$ U.S. NNP unit NN , , and CC write VB off RP part NN of IN nearly RB $ $ 1.2 CD billion CD  in IN good JJ will NN as IN a DT possible JJ prelude NN to TO  reincorporating VBG in IN the DT U.S. NNP . .
Dravo NNP rose VBD 5\/8 CD to TO 16 CD 1\/8 CD . .
Shearson NNP Lehman NNP Hutton NNP began VBD its PRP$ coverage NN of IN the DT company NN with IN favorable JJ ratings NNS . .
Intertan NNP jumped VBD 2 CD 1\/4 CD to TO 56 CD 7\/8 CD . .
The DT company NN reported VBD that IN earnings NNS from IN operations NNS for IN the DT September NNP quarter NN were VBD up IN about IN 25 CD % NN from IN a DT year NN earlier RBR . .
Bay NNP Financial NNP , , which WDT  said VBD  it PRP may MD be VB forced VBN  to TO file VB under IN Chapter NN 11 CD if IN it PRP ca MD n't RB reach VB an DT agreement NN  with IN its PRP$ lenders NNS  to TO relieve VB its PRP$ debt NN burden NN , , plunged VBD 1 CD 3\/8 CD to TO 2 CD 1\/8 CD . .
The DT Amex NNP Market NNP Value NNP Index NNP fell VBD 1.25 CD to TO 375.16 CD . .
Volume NN totaled VBD 16,800,000 CD shares NNS . .
Among IN active JJ Amex NNP issues NNS , , the DT American NNP depositary NN receipts NNS of IN B.A.T NNP Industries NNPS fell VBD 1\/4 CD to TO 11 CD 3\/4 CD on IN turnover NN of IN 885,800 CD . .
Investment NN bankers NNS and CC retailers NNS said VBD  the DT turmoil NN on IN Wall NNP Street NNP may MD benefit VB managers NNS who WP  plan VBP  to TO bid VB for IN U.S. NNP retailing NN units NNS of IN the DT British JJ firm NN because IN takeover NN prices NNS may MD not RB be VB as RB high JJ as IN before IN the DT recent JJ correction NN . .
Fruit NNP of IN the DT Loom NNP slipped VBD 1\/8 CD to TO 12 CD 3\/8 CD on IN 501,200 CD shares NNS . .
DWG NNP Corp. NNP jumped VBD 1 CD 1\/4 CD to TO 15 CD on IN 454,100 CD shares NNS . .
Carnival NNP Cruise NNP Lines NNPS Class NNP A NNP dropped VBD 1 CD to TO 21 CD 1\/8 CD on IN 331,400 CD shares NNS . .
Amex NNP issues NNS with IN big JJ percentage NN price NN gains NNS included VBD two CD Eastern NNP Air NNP Lines NNPS preferred VBN stocks NNS , ,  reacting VBG to TO the DT news NN about IN improved VBN recovery NN in IN flight NN schedules NNS after IN the DT company NN filed VBD for IN bankruptcy NN protection NN . .
Eastern NNP 's POS Class NNP F NNP preferred VBN rose VBD 12 CD % NN , , or CC 1 CD 1\/4 CD , , to TO 11 CD 3\/4 CD ; : the DT Class NNP E NNP preferred VBN gained VBD 7 CD % NN , , or CC 5\/8 CD , , to TO 10 CD 1\/4 CD . .
The DT biggest JJS percentage NN gainer NN on IN the DT Amex NNP was VBD Enviropact NNP , , which WDT  jumped VBD 23 CD % NN , , or CC 5\/8 CD , , to TO 3 CD 3\/8 CD on IN volume NN of IN 29,000 CD shares NNS . .
On IN Monday NNP , , the DT company NN , , a DT provider NN of IN environmental JJ consulting VBG services NNS , , reported VBD a DT wider JJR fiscal JJ fourth-quarter NN loss NN and CC predicted VBD a DT loss NN for IN its PRP$ fiscal JJ 1990 CD first JJ quarter NN , , but CC said VBD  a DT profit NN is VBZ expected VBN  for IN all DT of IN fiscal JJ 1990 CD . .
But CC its PRP$ auditor NN , , Ernst NNP & CC Young NNP , , said VBD  Enviropact NNP 's POS financial JJ situation NN raises VBZ `` `` substantial JJ doubt NN about IN its PRP$ ability NN  to TO continue VB as IN a DT going VBG concern NN . . '' ''
Mission NNP Resource NNP Partners NNPS advanced VBD 8 CD % NN , , or CC 1 CD 3\/8 CD , , to TO 18 CD 7\/8 CD . .
Sonja NNP Steptoe NNP and CC David NNP Wilson NNP contributed VBD to TO this DT article NN . .
ONE CD LIBERTY NNP PROPERTIES NNPS Inc. NNP declared VBD a DT dividend NN of IN 40 CD cents NNS a DT share NN on IN its PRP$ $ $ 16.50 CD  cumulative JJ convertible JJ preferred VBN stock NN , , payable JJ Jan. NNP 2 CD to TO stock NN of IN record NN Dec. NNP 8 CD . .
But CC directors NNS of IN the DT Great NNP Neck NNP , , N.Y. NNP , , real JJ estate NN investment NN trust NN did VBD n't RB act VB on IN the DT common JJ stock NN dividend NN . .
And CC they PRP wo MD n't RB consider VB such PDT a DT dividend NN , , the DT trust NN added VBD   , , before IN results NNS  are VBP available JJ for IN the DT first JJ quarter NN of IN 1990 CD . .
In IN part NN , , the DT trust NN cited VBD the DT need NN  to TO retain VB cash NN for IN possible JJ acquisitions NNS . .
According VBG to TO a DT spokesman NN , , One CD Liberty NNP will MD have VB paid VBN out RP as IN dividends NNS the DT required VBN amount NN of IN its PRP$ taxable JJ income NN  to TO maintain VB its PRP$ legal JJ status NN as IN a DT real JJ estate NN investment NN trust NN . .
Banks NNS are VBP continuing VBG  to TO go VB after IN individual JJ investors NNS , , despite IN falling VBG interest NN rates NNS . .
Yields NNS on IN small-denomination NN certificates NNS of IN deposit NN fell VBD at IN about IN half PDT the DT rate NN of IN so-called JJ jumbo JJ CDs NNS this DT week NN , , according VBG to TO Banxquote NNP Money NNP Markets NNPS , , an DT information NN service NN based VBN  here RB . .
Investors NNS can MD get VB slightly RB higher JJR yields NNS on IN deposits NNS below IN $ $ 50,000 CD  than IN they PRP can MD  on IN deposits NNS of IN $ $ 90,000 CD  and CC up IN . .
`` `` Banks NNS want VBP  to TO remain VB competitive JJ , , '' '' said VBD  Norberto NNP Mehl NNP , , chairman NN of IN Banxquote NNP . .
`` `` October NNP is VBZ a DT big JJ rollover NN month NN and CC perhaps RB they PRP anticipate VBP greater JJR demand NN ... : among IN people NNS leaving VBG the DT stock NN market NN . . '' ''
Some DT bankers NNS are VBP reporting VBG more JJR inquiries NNS  than IN usual JJ about IN CDs NNS since IN Friday NNP . .
`` `` Reports NNS from IN branches NNS are VBP that IN there EX has VBZ been VBN greater JJR interest NN in IN the DT last JJ day NN or CC so RB , , '' '' said VBD  Steven NNP Braitman NNP , , a DT vice NN president NN at IN Chemical NNP Bank NNP in IN New NNP York NNP . .
Chemical NNP said VBD  deposits NNS Monday NNP were VBD about IN $ $ 5 CD million CD  higher JJR than IN usual JJ and CC it PRP expects VBZ more JJR activity NN as IN investors NNS receive VBP the DT proceeds NNS from IN sales NNS of IN stock NN . .
`` `` This DT is VBZ no DT time NN   to TO be VB playing VBG in IN the DT street NN  ... :
the DT Dow NNP has VBZ more JJR ups NNS and CC downs NNS than IN an DT elevator NN , , '' '' proclaimed VBD an DT advertisement NN Monday NNP in IN New NNP York NNP newspapers NNS , ,  touting VBG Lincoln NNP Savings NNP Bank NNP 's POS one-year JJ CD NN . .
Harold NNP Jones NNP , , Lincoln NNP 's POS chief NN retail JJ banking NN officer NN , , said VBD  there EX has VBZ n't RB yet RB been VBN `` `` a DT discernible JJ response NN , , '' '' although IN the DT ad NN included VBD a DT coupon NN that WDT  could MD arrive VB later RB in IN the DT week NN . .
Friday NNP 's POS market NN rout NN came VBD smack RB in IN the DT middle NN of IN the DT heaviest JJS month NN for IN CD NN rollovers NNS , , when WRB a DT number NN of IN banks NNS and CC thrifts NNS already RB have VBP promotions NNS under IN way NN  . .
First NNP National NNP Bank NNP of IN Boston NNP , , for IN example NN , , is VBZ offering VBG certain JJ new JJ depositors NNS an DT extra JJ quarter NN of IN a DT percentage NN point NN on IN six-month JJ and CC 12-month JJ CDs NNS . .
Some DT banks NNS actually RB boosted VBD yields NNS on IN the DT shortest JJS term NN CDs NNS in IN the DT latest JJS week NN . .
New NNP York NNP 's POS Citibank NNP , , for IN instance NN , , increased VBD the DT yield NN on IN small-denomination NN three-month JJ CDs NNS to TO 8 CD % NN from IN 7.9 CD % NN . .
On IN average NN , , however RB , , three-month JJ CDs NNS at IN major JJ banks NNS are VBP yielding VBG a DT tenth JJ of IN a DT percentage NN point NN less JJR than IN they PRP were VBD  a DT week NN ago IN . .
Average JJ yields NNS on IN CDs NNS aimed VBD at IN individual JJ investors NNS fell VBD less JJR than IN half DT as RB much JJ as IN yields NNS on IN Treasury NN bills NNS sold VBN  at IN Monday NNP 's POS auction NN . .
Six-month JJ CDs NNS of IN $ $ 50,000 CD  and CC less RBR yielded VBD an DT average JJ 8.02 CD % NN in IN the DT week NN ended VBD Tuesday NNP , , down IN from IN 8.10 CD % NN , , according VBG to TO Banxquote NNP . .
The DT yield NN on IN six-month JJ T-bills NNS fell VBD to TO 7.82 CD % NN on IN Monday NNP , , from IN 8.01 CD % NN the DT week NN before IN . .
Meanwhile RB , , the DT average JJ yield NN on IN six-month JJ CDs NNS of IN more RBR than IN $ $ 90,000 CD  fell VBD to TO 7.93 CD % NN in IN the DT latest JJS week NN , , according VBG to TO Banxquote NNP , , from IN 8.10 CD % NN the DT week NN before IN . .
Mr. NNP Mehl NNP noted VBD that IN actual JJ rates NNS are VBP almost RB identical JJ on IN small JJ and CC large-denomination NN CDs NNS , , but CC yields NNS on IN CDs NNS aimed VBD at IN the DT individual JJ investor NN are VBP boosted VBN  by IN more RBR frequent JJ compounding NN . .
CDs NNS sold VBD by IN major JJ brokerage NN houses NNS , , which WDT  like IN jumbo JJ CDs NNS tend VBP  to TO closely RB follow VB interest NN rate NN trends NNS , , also RB posted VBN larger JJR drops NNS in IN yields NNS . .
A DT six-month JJ , , broker-sold JJ CD NN , , for IN example NN , , was VBD yielding VBG an DT average JJ 8.09 CD % NN  in IN the DT latest JJS week NN , , a DT fifth JJ of IN a DT percentage NN point NN lower JJR than IN the DT week NN before IN . .
In IN late JJ April NNP , , when WRB interest NN rates NNS were VBD at IN their PRP$ recent JJ highs NNS  , , short-term NNP CDs NNS sold VBN  by IN brokers NNS were VBD offering VBG yields NNS half PDT a DT percentage NN point NN or CC more RBR higher JJR than IN banks NNS . .
CD NN yields NNS are VBP generally RB expected VBN  to TO fall VB further RB in IN coming VBG weeks NNS . .
`` `` What WP  happened VBD in IN the DT stock NN market NN and CC the DT bigger JJR trade NN deficit NN '' '' reported VBN  yesterday NN `` `` make VBP it PRP  unlikely JJ that IN short-term JJ interest NN rates NNS will MD rise VB '' '' any DT time NN soon RB , , said VBD  Mr. NNP Mehl NNP of IN Banxquote NNP . .
`` `` Even RB before IN the DT market NN drop NN , , rates NNS were VBD down IN about IN half PDT a DT percentage NN point NN , , '' '' said VBD  Robert NNP J. NNP Hutchinson NNP , , senior JJ vice NN president NN for IN retail JJ marketing NN at IN Manufacturers NNPS Hanover NNP Trust NNP Co. NNP in IN New NNP York NNP . .
`` `` That DT puts VBZ pressure NN on IN CD NN rates NNS . .
Conservatives NNS have VBP an DT important JJ decision NN   to TO make VB  this DT fall NN . .
At IN the DT recent JJ meetings NNS of IN the DT World NNP Bank NNP and CC International NNP Monetary NNP Fund NNP , , the DT Bush NNP administration NN announced VBD its PRP$ intention NN  to TO decide VB by IN yearend NN the DT size NN of IN the DT next JJ increase NN in IN the DT IMF NNP 's POS capital NN base NN . .
While IN the DT U.S. NNP share NN of IN the DT increase NN probably RB will MD not RB reach VB the DT $ $ 12 CD billion CD  or CC more RBR implicit JJ in IN the DT IMF NNP 's POS request NN for IN a DT doubling NN of IN its PRP$ $ $ 90 CD billion CD  capital NN , , the DT administration NN probably RB will MD agree VB to TO a DT multibillion-dollar JJ increase NN . .
This DT would MD be VB consistent JJ with IN its PRP$ unwavering VBG support NN for IN the DT Brady NNP Plan NNP and CC G-7 NNP exchange-rate JJ intervention NN , , and CC with IN its PRP$ financial JJ commitment NN to TO Mexico NNP , , Poland NNP and CC others NNS . .
The DT IMF NNP has VBZ several JJ reasons NNS for IN  requesting VBG the DT increase NN . .
Its PRP$ role NN in IN the DT economies NNS of IN developing VBG countries NNS has VBZ grown VBN steadily RB since IN the DT 1970s CD . .
The DT size NN and CC pace NN of IN disbursements NNS will MD accelerate VB further RB under IN the DT Brady NNP Plan NNP , , which WDT  promises VBZ larger JJR and CC earlier JJR disbursements NNS to TO approved VBN countries NNS . .
At IN least JJS three CD other JJ factors NNS have VBP encouraged VBN the DT IMF NNP to TO insist VB on IN increased VBN capital NN . .
First JJ , , it PRP argues VBZ that IN its PRP$ capital NN base NN must MD be VB increased VBN  in IN order NN  to TO maintain VB its PRP$ size NN relative JJ to TO world NN financial JJ markets NNS , , for IN which WDT it PRP feels VBZ some DT responsibility NN  . .
Second JJ , , the DT World NNP Bank NNP 's POS recent JJ $ $ 75 CD billion CD  capital NN increase NN -- : $ $ 14 CD billion CD  from IN the DT U.S. NNP -- : has VBZ left VBN the DT IMF NNP  feeling VBG less JJR than IN first JJ fiddle NN among IN international JJ financial JJ institutions NNS . .
Third JJ , , the DT IMF NNP would MD like VB  to TO meet VB Japan NNP 's POS request NN for IN increased VBN ownership NN -LRB- -LRB- currently RB 4.5 CD % NN -RRB- -RRB- . .
Japan NNP has VBZ supported VBN a DT larger JJR role NN for IN the DT IMF NNP in IN developing-country JJ debt NN issues NNS , , and CC is VBZ an DT important JJ financial JJ resource NN for IN IMF-guided JJ programs NNS in IN developing VBG countries NNS . .
While IN international JJ politics NNS may MD argue VB for IN the DT capital NN increase NN , , there EX is VBZ a DT clear JJ economic JJ case NN against IN it PRP . .
Opponents NNS of IN the DT increase NN argue VBP that IN the DT IMF NNP practices NNS central JJ planning NN while IN  supporting VBG ineffective JJ governments NNS . .
They PRP question VBP whether IN the DT IMF NNP has VBZ any DT role NN in IN developing VBG countries NNS , , given VBN its PRP$ original JJ mandate NN  to TO assist VB industrial JJ countries NNS in IN balance-of-payments NNS emergencies NNS . .
Opponents NNS show VBP that IN there EX are VBP already RB more JJR funds NNS available JJ than IN commendable JJ reform NN efforts NNS . .
They PRP worry VBP that DT new JJ IMF NNP funding NN of IN developing VBG countries NNS will MD simply RB end VB up RP  substituting VBG IMF NNP debt NN for IN reschedulable JJ commercial JJ bank NN debt NN , , a DT bad JJ trade NN all DT around IN . .
They PRP believe VBP  microeconomics NNS , , which WDT  addresses VBZ the DT problems NNS of IN markets NNS , , investment NN climate NN and CC management NN practices NNS , , is VBZ the DT key NN to TO developing-country JJ growth NN , , not RB the DT IMF NNP 's POS Keynesian JJ focus NN on IN trade NN deficits NNS , , quarterly JJ targets NNS and CC government NN debt NN . .
They PRP point VBP at IN the DT numerous JJ developing-country JJ governments NNS that WDT  have VBP inflated VBN , , taxed VBN and CC regulated VBN themselves PRP into IN despair NN under IN successive JJ IMF NNP programs NNS . .
Decisions NNS on IN increases NNS in IN the DT IMF NNP 's POS capital NN base NN traditionally RB are VBP made VBN  by IN the DT administration NN , , with IN subsequent JJ authorization NN by IN Congress NNP . .
The DT last JJ U.S. NNP congressional JJ authorization NN , , in IN 1983 CD , , was VBD a DT political JJ donnybrook NN and CC carried VBD a DT $ $ 6 CD billion CD  housing NN program NN along IN with IN it PRP  to TO secure VB adequate JJ votes NNS . .
The DT politics NNS of IN the DT 1990 CD congressional JJ authorization NN are VBP likely JJ  to TO be VB similar JJ to TO those DT of IN previous JJ authorizations NNS . .
Liberals NNS may MD support VB the DT stabilizing VBG , , quasi-governmental JJ role NN of IN the DT IMF NNP on IN two CD conditions NNS : : that IN the DT administration NN give VBP assurances NNS that IN liberal JJ Democrats NNPS ' POS support NN will MD not RB be VB used VBN  against IN them PRP in IN congressional JJ re-election NN campaigns NNS ; : and CC that IN the DT legislation NN address NN -- : with IN dollars NNS -- : social JJ and CC environmental JJ concerns NNS . .
Conservative NNP Republicans NNPS will MD be VB given VBN  the DT choice NN of IN  supporting VBG or CC fighting VBG their PRP$ party NN 's POS popular JJ president NN in IN an DT election NN year NN . .
A DT U.S. NNP decision NN  to TO refuse VB the DT IMF NNP its PRP$ capital NN increase NN , , or CC limit VB it PRP to TO 25 CD % NN , , would MD bring VB a DT major JJ change NN in IN international JJ economic JJ policy NN , , and CC could MD not RB be VB taken VBN  lightly RB . .
Commentators NNS would MD fret VB over IN the DT implications NNS for IN the DT G-7 NN coordination NN process NN and CC the DT stability NN of IN world NN financial JJ markets NNS . .
Because IN commercial JJ banks NNS and CC the DT developing-country JJ governments NNS believe VBP  they PRP will MD get VB a DT piece NN of IN any DT capital NN increase NN , , a DT scaled-down JJ IMF NNP mission NN would MD leave VB both DT feeling VBG shortchanged VBN . .
Furthermore RB , , a DT U.S. NNP rejection NN of IN the DT capital NN increase NN -LRB- -LRB- and CC transfer NN of IN shares NNS to TO Japan NNP -RRB- -RRB- would MD give VB Japan NNP an DT argument NN against IN future JJ calls NNS for IN economic JJ burden-sharing NN . .
On IN the DT other JJ hand NN , , a DT decision NN  to TO increase VB the DT IMF NNP 's POS capital NN would MD reinforce VB the DT central JJ economic JJ role NN of IN multilateral JJ institutions NNS in IN developing VBG countries NNS . .
With IN the DT increase NN , , even RB more RBR developing-country JJ energy NN and CC talent NN would MD be VB diverted VBN  from IN  creating VBG profitable JJ economic JJ systems NNS to TO  setting NN up RP economic JJ planning VBG ministries NNS that WDT  generate VBP IMF-approved JJ economic JJ plans NNS . .
 Upping VBG the DT ante NN could MD slow VB economic JJ development NN even RB further RB , , as IN countries NNS delay VBP market-opening JJ steps NNS in IN anticipation NN of IN richer JJR multilateral JJ support NN . .
Conservatives NNS should MD take VB a DT position NN prior RB to TO the DT administration NN 's POS year-end JJ deadline NN . .
The DT issues NNS are VBP too RB important JJ  to TO be VB left VBN  to TO the DT financial JJ and CC budget NN ministries NNS fighting VBG over IN the DT size NN of IN the DT capital NN increase NN , , rather RB than IN its PRP$ purpose NN . .
If IN conservatives NNS do VBP n't RB support VB an DT increase NN in IN the DT IMF NNP 's POS capital NN , , then RB it PRP  is VBZ incumbent JJ on IN them PRP  to TO speak VB up RP now RB and CC explain VB the DT alternative NN . .
Mr. NNP Malpass NNP directs VBZ the DT Republican JJ staff NN of IN the DT Joint NNP Economic NNP Committee NNP of IN Congress NNP . .
The DT Chicago NNP Mercantile NNP Exchange NNP fined VBD and CC suspended VBD two CD commodities NNS traders NNS accused VBN  of IN  making VBG prearranged VBN trades NNS  with IN each DT other JJ that IN  allegedly RB cheated VBD a DT customer NN . .
Merc NNP officials NNS said VBD  Gary NNP N. NNP Roberts NNP was VBD disciplined VBN  following VBG the DT exchange NN 's POS investigation NN of IN his PRP$ trading NN in IN several JJ commodities NNS pits NNS from IN July NNP to TO November NNP 1988 CD . .
The DT Merc NNP said VBD  Mr. NNP Roberts NNP withheld VBD from IN the DT market NN certain JJ orders NNS in IN cooperation NN with IN another DT trader NN , , David NNP Stein NNP . .
The DT Merc NNP fined VBD Mr. NNP Roberts NNP $ $ 15,000 CD  and CC suspended VBD his PRP$ trading NN membership NN for IN three CD years NNS . .
Also RB , , he PRP and CC Mr. NNP Stein NNP were VBD ordered VBN  to TO make VB restitution NN of IN $ $ 35,000 CD  to TO a DT customer NN . .
Mr. NNP Stein NNP was VBD fined VBN $ $ 25,000 CD  and CC suspended VBN for IN three CD years NNS . .
Messrs. NNP Roberts NNP and CC Stein NNP could MD n't RB be VB reached VBN  for IN comment NN . .
The DT Merc NNP said VBD that IN as IN part NN of IN the DT disciplinary JJ settlement NN , , neither DT man NN admitted VBD , , nor CC denied VBD the DT alleged VBN violations NNS . .
Neither DT was VBD among IN the DT 46 CD traders NNS indicted VBN  last JJ August NNP in IN a DT federal JJ investigation NN of IN traders NNS at IN both PDT the DT Merc NNP and CC the DT Chicago NNP Board NNP of IN Trade NNP . .
In IN a DT move NN that WDT  could MD pose VB a DT new JJ competitive JJ challenge NN to TO Time NNP Warner NNP Inc. NNP 's POS powerful JJ Home NNP Box NNP Office NNP , , cable NN giant NN Tele-Communications NNPS Inc. NNP agreed VBD  to TO buy VB half DT of IN Showtime NNP Networks NNPS Inc. NNP from IN Viacom NNP Inc. NNP for IN $ $ 225 CD million CD  . .
The DT purchase NN comes VBZ after IN nearly RB three CD years NNS of IN on-again JJ off-again JJ talks NNS between IN TCI NNP and CC Viacom NNP , , which WDT  has VBZ also RB discussed VBN the DT sale NN of IN an DT interest NN in IN Showtime NNP with IN other JJ cable NN operators NNS . .
Showtime NNP is VBZ a DT distant JJ No. NN 2 CD to TO Home NNP Box NNP Office NNP , , and CC in IN May NNP filed VBD a DT $ $ 2.5 CD billion CD  antitrust JJ suit NN against IN Time NNP Warner NNP , ,  charging VBG the DT company NN and CC its PRP$ HBO NNP and CC American NNP Television NNP cable NN units NNS with IN  conspiring VBG  to TO monopolize VB the DT pay NN TV NN business NN . .
HBO NNP has VBZ close RB to TO 24 CD million CD subscribers NNS to TO its PRP$ HBO NNP and CC Cinemax NNP networks NNS , , while IN Showtime NNP and CC its PRP$ sister NN service NN , , The NNP Movie NNP Channel NNP , , have VBP only RB about IN 10 CD million CD , , according VBG to TO Paul NNP Kagan NNP Associates NNPS , , a DT Carmel NNP , , Calif. NNP , , research NN firm NN . .
For IN TCI NNP , , the DT investment NN in IN Showtime NNP puts VBZ it PRP in IN an DT unusual JJ position NN ; : as IN the DT largest JJS cable NN operator NN , , with IN control NN of IN close NN to TO 12 CD million CD of IN the DT nation NN 's POS 52 CD million CD cable NN subscribers NNS , , TCI NNP is VBZ HBO NNP 's POS largest JJS customer NN . .
But CC TCI NNP President NNP John NNP Malone NNP has VBZ long RB been VBN concerned VBN about IN HBO NNP 's POS dominance NN of IN the DT pay NN TV NN business NN , , and CC has VBZ been VBN eager JJ  to TO keep VB Showtime NNP as IN a DT healthy JJ competitor NN . .
`` `` It PRP  is VBZ important JJ to TO the DT cable NN industry NN that IN we PRP have VBP a DT vibrant JJ and CC competitive JJ pay-television NN marketplace NN , , '' '' Mr. NNP Malone NNP said VBD  in IN a DT statement NN . .
In IN a DT telephone NN interview NN , , Robert NNP Thomson NNP , , TCI NNP senior JJ vice NN president NN , , said VBD  Showtime NNP 's POS suit NN against IN HBO NNP `` `` does VBZ n't RB involve VB us PRP , , and CC nothing NN  we PRP 're VBP doing VBG  here RB bears VBZ any DT relationship NN to TO that DT . . '' ''
He PRP added VBD , , `` `` We PRP do VBP n't RB intend VB  to TO be VB drawn VBN  into IN it PRP , , '' ''  noting VBG that IN TCI NNP wo MD n't RB play VB any DT active JJ role NN in IN the DT management NN of IN Showtime NNP . .
 Linking VBG up RP Showtime NNP with IN the DT largest JJS cable NN operator NN in IN the DT U.S. NNP could MD sharply RB boost VB its PRP$ subscribers NNS . .
TCI NNP said VBD  it PRP may MD bring VB in RB other JJ cable NN operators NNS as IN investors NNS , , a DT practice NN  it PRP has VBZ employed VBN  in IN the DT past NN with IN investments NNS in IN other JJ cable NN networks NNS , , such JJ as IN The NNP Discovery NNP Channel NNP . .
Additional JJ cable NN partners NNS could MD boost VB subscribers NNS even RB further RB . .
Time NNP Warner NNP declined VBD comment NN . .
In IN addition NN to TO  owning VBG HBO NNP , , Time NNP Warner NNP owns VBZ American NNP Television NNP & CC Communications NNPS Inc. NNP , , the DT nation NN 's POS second JJ largest JJS cable NN operator NN after IN TCI NNP . .
Viacom NNP also RB owns VBZ cable NN systems NNS , , but CC it PRP is VBZ the DT 14th JJ largest JJS operator NN of IN such JJ systems NNS , , with IN less RBR than IN one CD million CD subscribers NNS . .
The DT TCI NNP investment NN is VBZ a DT big JJ victory NN for IN Viacom NNP 's POS chief NN executive NN officer NN , , Frank NNP Biondi NNP , , and CC Winston NNP H. NNP Cox NNP , , president NN of IN the DT Showtime NNP unit NN . .
`` `` This DT takes VBZ any DT question NN of IN Showtime NNP 's POS viability NN and CC puts VBZ it PRP away RB once RB and CC for IN all DT , , '' '' Mr. NNP Biondi NNP said VBD  in IN a DT telephone NN interview NN . .
The DT fight NN between IN HBO NNP and CC Showtime NNP is VBZ particularly RB acrimonious JJ because IN Mr. NNP Biondi NNP is VBZ the DT former JJ chief NN executive NN of IN HBO NNP , , and CC Mr. NNP Cox NNP served VBD as IN chief NN of IN marketing NN for IN the DT service NN . .
They PRP were VBD both DT hired VBN by IN Sumner NNP Redstone NNP , , the DT Boston NNP billionaire NN who WP  took VBD control NN of IN Viacom NNP three CD years NNS ago IN in IN a DT leveraged JJ buy-out NN . .
Time NNP Warner NNP has VBZ vigorously RB denied VBN all DT of IN Viacom NNP 's POS allegations NNS . .
Boeing NNP Co. NNP , , already RB struck VBN  by IN its PRP$ Machinists NNS union NN , , briefly NN called VBD off RP contract NN talks NNS with IN its PRP$ engineers NNS and CC labeled VBD their PRP$ demands NNS `` `` grossly RB excessive JJ . . '' ''
Later RB , , however RB , , the DT company NN agreed VBD  to TO meet VB on IN Monday NNP with IN the DT Seattle NNP Professional NNP Engineering NNP Employees NNPS Association NNP after IN a DT federal JJ mediator NN intervened VBD , , according VBG to TO the DT union NN . .
A DT spokesman NN for IN the DT engineers NNS said VBD  the DT company NN asked VBD the DT union NN  to TO reduce VB its PRP$ demands NNS , , which WDT  included VBD a DT 19 CD % NN pay NN hike NN in IN the DT first JJ year NN and CC 8 CD % NN in IN the DT second JJ and CC third JJ years NNS . .
The DT union NN represents VBZ about IN 28,000 CD engineers NNS and CC technical JJ workers NNS . .
Its PRP$ contract NN expires VBZ Dec. NNP 1 CD . .
Meanwhile RB , , a DT federal JJ mediator NN is VBZ scheduled VBN  to TO meet VB today NN with IN Boeing NNP officials NNS and CC representatives NNS of IN 55,000 CD striking JJ Machinists NNS . .
`` `` It PRP  will MD take VB several JJ meetings NNS  to TO resolve VB this DT , , '' '' said VBD  a DT spokesman NN for IN the DT Machinists NNS union NN . .
`` `` We PRP do VBP n't RB want VB  to TO bring VB back RB something NN  the DT members NNS will MD reject VB  . . '' ''
Machinists NNS already RB have VBP rejected VBN a DT package NN that WDT  would MD have VB provided VBN a DT 10 CD % NN pay NN raise NN plus CC bonuses NNS over IN the DT three-year JJ life NN of IN the DT contract NN . .
It PRP also RB would MD have VB reduced VBN mandatory JJ overtime NN . .
Investor NNP Asher NNP Edelman NNP increased VBD his PRP$ stake NN in IN Intelogic NNP Trace NNP Inc. NNP and CC cleared VBD the DT way NN for IN additional JJ purchases NNS . .
It PRP  was VBD n't RB clear JJ , , however RB , , whether IN the DT actions NNS were VBD related VBN  to TO a DT battle NN between IN the DT corporate JJ raider NN and CC New NNP York NNP attorney NN Martin NNP Ackerman NNP for IN control NN of IN Datapoint NNP Corp. NNP , , a DT San NNP Antonio NNP , , Texas-based JJ data-processing NN systems NNS maker NN . .
Intelogic NNP Trace NNP , , a DT computer NN services NNS company NN , , was VBD spun VBN  off RP to TO Datapoint NNP holders NNS in IN 1985 CD , , after IN Mr. NNP Edelman NNP gained VBD control NN . .
After IN Mr. NNP Ackerman NNP announced VBD  he PRP was VBD soliciting VBG consents NNS from IN shareholders NNS in IN order NN  to TO wrest VB control NN of IN Datapoint NNP from IN Mr. NNP Edelman NNP , , the DT corporate JJ raider NN purchased VBD 30 CD % NN of IN Datapoint NNP 's POS shares NNS . .
In IN a DT Securities NNPS and CC Exchange NNP Commission NNP filing NN , , Mr. NNP Edelman NNP said VBD  from IN Sept. NNP 29 CD to TO Oct. NNP 13 CD , , he PRP acquired VBD 309,500 CD shares NNS of IN Intelogic NNP common JJ shares NNS for IN $ $ 2.25 CD to TO $ $ 2.375 CD  each DT . .
The DT purchases NNS increased VBD his PRP$ stake NN to TO 16.2 CD % NN of IN the DT shares NNS outstanding JJ . .
The DT filing NN also RB said VBD  certain JJ provisions NNS which WDT  apply VBP to TO persons NNS   acquiring VBG 20 CD % NN or CC more JJR of IN Intelogic NNP common JJ stock NN , , were VBD waived VBN  by IN Intelogic NNP for IN Mr. NNP Edelman NNP , , who WP  is VBZ chairman NN of IN the DT company NN . .
Mr. NNP Edelman NNP could MD n't RB be VB reached VBN  for IN comment NN . .
The DT federal JJ government NN should MD make VB free JJ , , voluntary JJ testing NN for IN the DT AIDS NNP virus NN the DT cornerstone NN of IN an DT expanded VBN campaign NN  to TO stop VB the DT spread NN of IN acquired VBN immune JJ deficiency NN syndrome NN , , the DT Hudson NNP Institute NNP recommended VBD   . .
`` `` By IN  encouraging JJ massive JJ , , routine JJ , , voluntary JJ testing NN we PRP can MD enable VB society NN to TO voluntarily RB segregate VB itself PRP sexually RB into IN two CD groups NNS : : those DT who WP  carry VBP the DT virus NN and CC those DT who WP  do VBP not RB  , , '' '' the DT Indianapolis NNP research NN organization NN said VBD  in IN a DT new JJ report NN . .
The DT report NN takes VBZ a DT more RBR alarmed JJ view NN of IN AIDS NNP and CC recommends VBZ a DT more RBR sweeping JJ response NN than IN many JJ other JJ analyses NNS . .
It PRP warns VBZ that IN the DT AIDS NNP epidemic NN `` `` may MD reduce VB the DT rate NN of IN growth NN of IN the DT work NN force NN , , curb VB productivity NN gains NNS and CC slow VB economic JJ growth NN . . '' ''
It PRP contends VBZ that IN current JJ government NN policy NN is VBZ failing VBG  to TO stem VB the DT AIDS NNP epidemic NN because IN it PRP suggests VBZ  the DT use NN of IN condoms NNS can MD make VB sex NN `` `` safe JJ . . '' ''
But CC the DT report NN says VBZ : :  `` `` The DT only RB safe JJ sex NN is VBZ sex NN between IN uninfected JJ partners NNS , , '' '' and CC testing NN is VBZ the DT only JJ way NN   to TO learn VB of IN infection NN  . .
Hudson NNP 's POS researchers NNS estimated VBD that IN it PRP  would MD cost VB less RBR than IN $ $ 650 CD million CD  a DT year NN  to TO test VB the DT entire JJ population NN between IN the DT ages NNS of IN 12 CD and CC 65 CD years NNS old JJ . .
In IN addition NN , , the DT report NN recommends VBZ that IN federal JJ and CC state NN governments NNS provide VB free JJ treatment NN to TO all DT who WP  test VBP  positive JJ . .
An DT unexpectedly RB sharp JJ widening NN in IN the DT U.S. NNP trade NN gap NN for IN August NNP dragged VBD the DT dollar NN lower JJR Tuesday NNP , , but CC profit-taking NNS on IN short JJ positions NNS helped VBD the DT currency NN rebound NN  to TO close VB mixed VBN against IN major JJ counterparts NNS . .
While IN the DT market NN kept VBD careful JJ tabs NNS on IN Wall NNP Street NNP 's POS gyrations NNS , , it PRP shrugged VBD off RP a DT modest JJ downturn NN in IN equities NNS  to TO bid VB the DT dollar NN well RB above IN the DT day NN 's POS lows NNS . .
Soon RB after IN the DT release NN of IN the DT U.S. NNP trade NN figures NNS , , the DT dollar NN plunged VBD to TO an DT intraday NN low JJ of IN 140.95 CD yen NN . .
It PRP also RB declined VBD against IN the DT mark NN but CC  did VBD n't RB reach VB its PRP$ intraday NN low JJ of IN 1.8435 CD marks NNS until IN two CD hours NNS later RB . .
The DT unit NN stabilized VBD about IN midday NN New NNP York NNP time NN at IN around IN 1.85 CD marks NNS and CC 141 CD yen NN , ,  prompting VBG unconfirmed JJ rumors NNS that IN the DT U.S. NNP Federal NNP Reserve NNP had VBD intervened VBN  to TO blunt VB the DT unit NN 's POS tumble NN . .
The DT dollar NN finished VBD at IN its PRP$ intraday NN highs NNS . .
Dealers NNS noted VBD that IN the DT foreign JJ exchange NN market NN 's POS initial JJ bearish JJ reaction NN to TO the DT U.S. NNP trade NN figures NNS was VBD tempered VBN  later RB by IN a DT `` `` calmer JJR reassessment NN of IN the DT data NNS . . '' ''
The DT U.S. NNP Commerce NNP Department NNP reported VBD a DT $ $ 10.77 CD billion CD  deficit NN in IN August NNP , , compared VBN with IN a DT revised VBN July NNP deficit NN of IN $ $ 8.24 CD billion CD  . .
Economists NNS had VBD expected VBN a DT $ $ 9.1 CD billion CD  gap NN . .
The DT August NNP figure NN reflected VBD a DT 6.4 CD % NN rise NN in IN imports NNS and CC a DT 0.2 CD % NN drop NN in IN exports NNS . .
Marc NNP M. NNP Goloven NNP , , an DT economist NN with IN Manufacturers NNPS Hanover NNP Trust NNP in IN New NNP York NNP , , said VBD that IN while IN the DT figures NNS appear VBP  to TO indicate VB a DT sadly RB deteriorating VBG U.S. NNP trade NN performance NN , , there EX 's VBZ still RB enough RB positive JJ news NN  in IN the DT data NNS  to TO justify VB  buying VBG dollars NNS . .
He PRP said VBD that IN while IN the DT U.S. NNP trade NN gap NN with IN Canada NNP has VBZ widened VBN significantly RB , , the DT trade NN deficit NN with IN Western NNP Europe NNP and CC Japan NNP continues VBZ  to TO narrow VB . .
And CC he PRP added VBD that IN manufactured VBN goods NNS exports NNS are VBP still RB rising VBG . .
The DT dollar NN 's POS near-term JJ path NN remains VBZ foggy JJ , , according VBG to TO currencny NN analysts NNS , , who WP  characterize VBP the DT market NN as IN `` `` bewildering VBG . . '' ''
In IN late JJ New NNP York NNP trading NN yesterday NN , , the DT dollar NN was VBD quoted VBN  at IN 1.8667 CD marks NNS , , down IN from IN 1.8685 CD marks NNS late JJ Monday NNP , , and CC at IN 142.75 CD yen NN , , up IN from IN 141.85 CD yen NN late JJ Monday NNP . .
Sterling NN was VBD unchanged JJ at IN $ $ 1.5753 CD  . .
In IN Tokyo NNP Wednesday NNP , , the DT U.S. NNP currency NN opened VBD for IN trading VBG at IN 142.55 CD yen NN , , unchanged JJ from IN Tuesday NNP 's POS Tokyo NNP close NN . .
Later RB , , the DT U.S. NNP currency NN fell VBD to TO about IN 142.25 CD yen NN on IN news NN reports NNS of IN the DT San NNP Francisco NNP earthquake NN . .
Some DT analysts NNS remain VBP bullish JJ and CC point NN out RP that IN the DT dollar NN continues VBZ  to TO be VB well RB bid VBN despite IN key JJ rate NN increases NNS in IN Europe NNP and CC Japan NNP , , several JJ weeks NNS of IN aggressive JJ dollar NN sales NNS by IN the DT world NN central JJ banks NNS -- : some DT traders NNS estimate VBP that IN the DT barrage NN of IN sales NNS topped VBD $ $ 12 CD billion CD  -- : and CC a DT 190-point JJ plunge NN on IN the DT New NNP York NNP Stock NNP Exchange NNP . .
They PRP note VBP that IN the DT U.S. NNP unit NN is VBZ trading VBG at IN the DT upper JJ end NN of IN the DT presumed VBN target NN zones NNS established VBN  by IN the DT Group NNP of IN Seven CD trading NN partners NNS . .
The DT G-7 NN comprises VBZ West NNP Germany NNP , , the DT U.S. NNP , , France NNP , , the DT U.K. NNP , , Italy NNP , , Canada NNP and CC Japan NNP . .
The DT so-called JJ Louvre NNP accord NN was VBD seen VBN  to TO have VB set VBN ranges NNS of IN 1.70 CD marks NNS to TO 1.90 CD marks NNS and CC 120 CD yen NN to TO 140 CD yen NN . .
They PRP say VBP that IN the DT recent JJ injection NN of IN liquidity NN into IN the DT U.S. NNP banking NN system NN has VBZ been VBN modest JJ , , and CC they PRP do VBP n't RB anticipate VB significant JJ easing NN by IN the DT U.S. NNP Federal NNP Reserve NNP . .
The DT Fed NNP arranged VBD $ $ 1.5 CD billion CD  of IN customer NN repurchase VBD agreements NNS Tuesday NNP , , the DT second JJ repurchase JJ agreement NN in IN two CD days NNS . .
The DT move NN , , which WDT  injects VBZ capital NN into IN the DT system NN , , is VBZ seen VBN  as IN an DT effort NN  to TO reassure VB the DT finanicial JJ markets NNS that IN the DT U.S. NNP central JJ bank NN is VBZ ready JJ  to TO provide VB the DT ample JJ liquidity NN . .
But CC other JJ analysts NNS contend VBP that IN while IN the DT Fed NNP 's POS move NN  to TO loosen VB credit NN has VBZ n't RB been VBN aggressive JJ , , it PRP nevertheless RB sends VBZ a DT clear JJ signal NN that IN , , at IN least JJS for IN now RB , , the DT Fed NNP has VBZ relaxed VBN its PRP$ grip NN on IN credit NN . .
They PRP add VBP that IN the DT Fed NNP has VBZ allowed VBN the DT key JJ federal JJ funds NNS interest NN rate NN  to TO dip VB to TO about IN 8 CD 5\/8 CD % NN from IN its PRP$ levels NNS of IN just RB below IN 9 CD % NN last JJ week NN . .
The DT federal JJ funds NNS rate NN is VBZ the DT overnight JJ lending NN rate NN that IN banks NNS charge VBP each DT other JJ  . .
Market NN participants NNS said VBD that IN the DT mark NN continues VBZ  to TO post VB the DT most RBS significant JJ gains NNS against IN the DT dollar NN . .
On IN the DT Commodity NNP Exchange NNP in IN New NNP York NNP , , gold NN for IN current JJ delivery NN settled VBN at IN $ $ 367.40 CD  an DT ounce NN , , up IN 10 CD cents NNS . .
Estimated VBN volume NN was VBD a DT moderate JJ 3.5 CD million CD ounces NNS . .
In IN early JJ trading NN in IN Hong NNP Kong NNP Wednesday NNP , , gold NN was VBD at IN $ $ 366.55 CD  an DT ounce NN . .
National NNP Semiconductor NNP Corp. NNP said VBD  it PRP settled VBD a DT four-year-old JJ patent NN infringement NN case NN against IN Linear NNP Technology NNP Corp. NNP by IN  accepting VBG a DT $ $ 3 CD million CD  payment NN from IN Linear NNP in IN exchange NN for IN  granting VBG Linear NNP irrevocable JJ licenses NNS for IN all DT products NNS involved VBN  . .
The DT two CD companies NNS also RB agreed VBD  to TO settle VB any DT future JJ property NN rights NNS issues NNS over IN the DT next JJ 10 CD years NNS through IN binding VBG arbitration NN , , both DT companies NNS said VBD   . .
The DT products NNS are VBP so-called JJ analog JJ integrated VBN circuits NNS that WDT  have VBP applications NNS in IN the DT consumer NN electronics NNS , , automobile NN and CC electronic JJ instrumentation NN markets NNS . .
Linear NNP Technology NNP , , Milpitas NNP , , Calif. NNP , , called VBD the DT settlement NN `` `` positive JJ , , '' '' since IN products NNS covered VBN  by IN the DT disputed VBN patents NNS account VBP for IN about IN 20 CD % NN of IN its PRP$ annual JJ sales NNS . .
The DT electronics NNS concern NN said VBD  it PRP already RB has VBZ paid VBN $ $ 2 CD million CD  of IN the DT settlement NN to TO National NNP Semiconductor NNP , , Santa NNP Clara NNP , , Calif. NNP , , and CC will MD pay VB the DT remaining VBG $ $ 1 CD million CD  in IN equal JJ installments NNS over IN the DT next JJ eight CD quarters NNS . .
The DT payments NNS are VBP n't RB expected VBN  to TO have VB an DT impact NN on IN coming VBG operating VBG results NNS , , Linear NNP added VBD   . .
NBC NNP 's POS winning VBG streak NN has VBZ been VBN canceled VBN  . .
The DT National NNP Broadcasting NNP Co. NNP , , a DT unit NN of IN General NNP Electric NNP Co. NNP , , had VBD its PRP$ record-breaking JJ 68-week JJ reign NN as IN the DT prime-time JJ ratings NNS leader NN snapped VBD  yesterday NN by IN ABC-TV NNP , , a DT subsidiary NN of IN Capital NNP Cities\/ABC NNP Inc NNP . .
In IN the DT ratings NNS compiled VBN  by IN the DT A.C. NNP Nielsen NNP Co. NNP , , ABC NNP , , which WDT  broadcast VBD the DT World NNP Series NNP , , topped VBD the DT competition NN with IN a DT 14.8 CD rating NN and CC 25 CD share NN . .
NBC NNP was VBD second JJ with IN a DT 13.9 CD rating NN and CC 24 CD share NN followed VBN by IN CBS NNP Inc. NNP 's POS television NN network NN with IN a DT 12.5 CD rating NN and CC 21 CD share NN . .
-LRB- -LRB- A DT ratings NNS point NN represents VBZ 904,000 CD television NN households NNS ; : shares NNS indicate VBP the DT percentage NN of IN sets NNS in IN use NN . . -RRB- -RRB-
The DT first JJ two CD games NNS of IN the DT World NNP Series NNP between IN the DT Oakland NNP Athletics NNP and CC San NNP Francisco NNP Giants NNPS did VBD n't RB finish VB in IN the DT top JJ 10 CD ; : instead RB they PRP landed VBD in IN 16th JJ and CC 18th JJ place NN . .
The DT highest-rated JJ show NN continues VBZ  to TO be VB ABC NNP 's POS `` `` Roseanne NNP . . '' ''
NBC NNP had VBD five CD of IN the DT top JJ 10 CD shows NNS ; : ABC NNP had VBD four CD and CC CBS NNP had VBD one CD . .
CBS NNP held VBD the DT previous JJ record NN for IN consecutive JJ No. NNP 1 CD victories NNS -- : 46 CD weeks NNS -- : during IN the DT 1962-63 CD season NN . .
Procter NNP & CC Gamble NNP Co. NNP , , Cincinnati NNP , ,  expanding VBG its PRP$ presence NN in IN the DT food NN service NN market NN , , said VBD  it PRP acquired VBD Maryland NNP Club NNP Foods NNPS , , a DT coffee NN supplier NN , , from IN an DT investor NN group NN led VBN  by IN F. NNP Philip NNP Handy NNP of IN Winter NNP Park NNP , , Fla NNP . .
Terms NNS were VBD n't RB disclosed VBN  . .
Houston-based JJ Maryland NNP Club NNP Foods NNPS , , which WDT  had VBD sales NNS of IN about IN $ $ 200 CD million CD  last JJ year NN , , sells VBZ coffee NN under IN the DT Maryland NNP Club NNP and CC Butter-Nut NNP brands NNS to TO restaurants NNS , , hotels NNS , , offices NNS and CC airlines NNS . .
The DT acquisition NN `` `` gives VBZ us PRP additional JJ production NN capacity NN for IN the DT food NN service NN coffee NN business NN and CC a DT stronger JJR distribution NN network NN , , '' '' a DT P&G NNP spokesman NN said VBD   . .
P&G NNP already RB sells VBZ its PRP$ Folgers NNP ground NN roast NN coffee NN to TO food NN service NN concerns NNS , , but CC not RB to TO as RB many JJ markets NNS as IN Maryland NNP Club NNP . .
For IN example NN , , P&G NNP up IN until IN now RB has VBZ n't RB sold VBN coffee NN to TO airlines NNS and CC does VBZ only RB limited VBN business NN with IN hotels NNS and CC large JJ restaurant NN chains NNS . .
Maryland NNP Club NNP also RB distributes VBZ tea NN , , which WDT  fits VBZ well RB with IN P&G NNP 's POS Tender NNP Leaf NNP brand NN , , and CC hot JJ cocoa NN products NNS . .
The DT company NN said VBD  the DT acquisition NN has VBZ been VBN completed VBN and CC reviewed VBN by IN the DT Federal NNP Trade NNP Commission NNP . .
The DT purchase NN includes VBZ a DT coffee-roasting JJ plant NN in IN Omaha NNP , , Neb. NNP , , and CC a DT leased VBN facility NN in IN Houston NNP . .
MACMILLAN NNP BLOEDEL NNP Ltd. NNP said VBD  it PRP borrowed VBD 215 CD million CD Dutch JJ guilders NNS -LRB- -LRB- US$ $ 102 CD million CD  -RRB- -RRB- from IN a DT group NN of IN Dutch JJ institutional JJ investors NNS . .
MacMillan NNP Bloedel NNP , , a DT Vancouver NNP , , British NNP Columbia NNP , , forest NN products NNS concern NN , , said VBD  the DT 8.1 CD % NN loan NN is VBZ due JJ Oct. NNP 16 CD , , 1996 CD . .
Funds NNS will MD be VB used VBN   to TO repay VB existing VBG short-term JJ debt NN and CC  to TO finance VB capital NN spending NN , , it PRP said VBD   . .
President NNP Bush NNP will MD veto VB a DT bill NN funding VBG the DT Departments NNPS of IN Labor NNP , , Education NNP and CC Health NNP and CC Human NNP Services NNPS because IN it PRP would MD allow VB federal JJ funding NN of IN abortions NNS for IN victims NNS of IN rape NN and CC incest NN , , the DT White NNP House NNP said VBD   . .
Mr. NNP Bush NNP had VBD threatened VBN a DT veto NN previously RB . .
But CC he PRP put VBD off RP a DT firm JJ decision NN while IN his PRP$ aides NNS and CC legislators NNS searched VBD for IN a DT compromise NN that WDT  would MD tighten VB requirements NNS for IN such JJ abortions NNS in IN a DT way NN acceptable JJ to TO the DT president NN . .
White NNP House NNP Press NNP Secretary NNP Marlin NNP Fitzwater NNP said VBD  negotiations NNS between IN Bush NNP aides NNS and CC lawmakers NNS ended VBD Monday NNP without IN success NN . .
Most JJS lawmakers NNS think VBP  it PRP  will MD be VB extremely RB difficult JJ for IN Mr. NNP Bush NNP 's POS opponents NNS on IN the DT abortion NN issue NN to TO round VB up RP the DT votes NNS needed VBN  to TO override VB the DT veto NN . .
But CC there EX still RB may MD be VB prolonged VBN debate NN and CC political JJ maneuvering NN that WDT  holds VBZ up IN the DT $ $ 156.7 CD billion CD  funding NN bill NN for IN the DT fiscal JJ year NN that WDT  began VBD Oct. NNP 1 CD . .
Mr. NNP Bush NNP has VBZ said VBN  he PRP personally RB approves VBZ of IN abortions NNS in IN the DT cases NNS of IN rape NN , , incest NN and CC danger NN to TO the DT life NN of IN the DT mother NN . .
But CC he PRP has VBZ opposed VBN Medicaid NNP funding NN of IN abortions NNS for IN poor JJ women NNS who WP  say VBP  they PRP are VBP victims NNS of IN rape NN and CC incest NN , ,  arguing VBG that IN those DT exceptions NNS are VBP enforced VBN  so RB loosely RB that IN they PRP open VBP the DT way NN for IN abortions NNS for IN other JJ women NNS . .
NEWSPAPERS NNPS : :
Media NNP General NNP Inc. NNP intends VBZ  to TO sell VB two CD of IN its PRP$ West NNP Coast NNP weekly JJ newspaper NN chains NNS , , Golden NNP West NNP Publishing NNP Inc. NNP and CC Highlander NNP Publications NNPS , , which WDT  together RB comprise VBP 31 CD papers NNS . .
Media NNP General NNP said VBD  it PRP has VBZ had VBN inquiries NNS from IN potential JJ buyers NNS and CC expects VBZ  to TO complete VB a DT sale NN in IN 1989 CD . .
It PRP would MD n't RB discuss VB a DT price NN . .
Lee NNP Dirks NNP & CC Associates NNPS is VBZ  to TO sell VB the DT chains NNS . .
J.P. NNP Morgan NNP & CC Co. NNP , , New NNP York NNP , , will MD help VB the DT statutory JJ managers NNS of IN DFC NNP New NNP Zealand NNP Ltd. NNP  to TO evaluate VB the DT failed VBN investment NN bank NN 's POS condition NN . .
Earlier RBR this DT month NN , , the DT Reserve NNP Bank NNP of IN New NNP Zealand NNP , , the DT country NN 's POS central JJ bank NN , , appointed VBD the DT managers NNS  to TO run VB the DT investment NN bank NN and CC pay NN creditors NNS . .
DFC NNP asked VBD the DT central JJ bank NN  to TO appoint VB managers NNS after IN it PRP revised VBD loan-loss NN provisions NNS to TO around IN the DT same JJ level NN of IN shareholders NNS ' POS funds NNS of IN 180 CD million CD New NNP Zealand NNP dollars NNS -LRB- -LRB- US$ $ 105.4 CD million CD  -RRB- -RRB- . .
DFC NNP is VBZ held VBN  80 CD % NN by IN National NNP Provident NNP Fund NNP , , New NNP Zealand NNP 's POS largest JJS pension NN fund NN , , and CC 20 CD % NN by IN Salomon NNP Brothers NNPS Inc. NNP , , the DT investment-bank JJ and CC securities-firm JJ subsidiary NN of IN Salomon NNP Inc. NNP in IN New NNP York NNP . .
A DT spokeswoman NN for IN J.P. NNP Morgan NNP , , parent NN of IN the DT bank NN Morgan NNP Guaranty NNP Trust NNP Co. NNP , , confirmed VBD its PRP$ appointment NN  to TO assist VB the DT managers NNS but CC declined VBD  to TO elaborate VB . .
The DT managers NNS said VBD in IN a DT brief JJ statement NN yesterday NN that DT Morgan NNP will MD help VB  evaluate VB DFC NNP 's POS position NN and CC help VB  determine VB alternatives NNS . .
The DT managers NNS do VBP n't RB expect VB  to TO complete VB the DT evaluation NN until IN Nov. NNP 30 CD . .
An DT experimental JJ vaccine NN can MD alter VB the DT immune JJ response NN of IN people NNS infected VBN  with IN the DT AIDS NNP virus NN , , a DT prominent JJ U.S. NNP scientist NN said VBD   . .
However RB , , that DT does VBZ n't RB mean VB  they PRP can MD benefit VB from IN the DT vaccine NN . .
Its PRP$ effectiveness NN ca MD n't RB be VB determined VBN  until IN a DT large JJ clinical JJ trial NN is VBZ undertaken VBN  by IN the DT Army NNP in IN January NNP , , according VBG to TO Robert NNP Redfield NNP , , chief NN of IN acquired VBN immune JJ deficiency NN syndrome NN research NN at IN Walter NNP Reed NNP Army NNP Institute NNP of IN Research NNP . .
Dr. NNP Redfield NNP 's POS report NN on IN early JJ experiments NNS using VBG an DT AIDS NNP vaccine NN made VBD by IN MicroGeneSys NNP Inc. NNP of IN West NNP Haven NNP , , Conn. NNP , , came VBD at IN a DT meeting NN of IN AIDS NNP vaccine NN researchers NNS in IN Florida NNP late JJ Monday NNP . .
The DT vaccine NN , , VaxSyn NNP HIV-1 NNP , , has VBZ been VBN safely RB given VBN  to TO 14 CD people NNS , , some DT of IN whom WP  are VBP experiencing VBG substantial JJ increases NNS in IN certain JJ antibodies NNS . .
`` `` The DT conventional JJ wisdom NN used VBN  to TO be VB that IN you PRP could MD n't RB modify VB the DT immune JJ response NN of IN an DT infected JJ individual NN '' '' by IN  innoculating VBG them PRP with IN synthetic JJ viral JJ proteins NNS , , Dr. NNP Redfield NNP said VBD   . .
`` `` We PRP 've VBP demonstrated VBN that IN you PRP can MD  . . '' ''
He PRP said VBD  certain JJ volunteers NNS developed VBD kinds NNS of IN antibodies NNS associated VBN  with IN early JJ AIDS NNP . .
Other JJ antibodies NNS sparked VBN  by IN the DT preparation NN are VBP of IN a DT sort NN rarely RB present JJ in IN large JJ quantities NNS in IN infected JJ or CC ill JJ individuals NNS , , he PRP added VBD   . .
One CD of IN the DT mysteries NNS of IN AIDS NNP remains VBZ why WRB infected JJ people NNS produce VBP large JJ quantities NNS of IN antibodies NNS , , but CC deteriorate VBP nonetheless RB . .
Cross NNP & CC Trecker NNP Corp. NNP said VBD  it PRP reached VBD an DT agreement NN  to TO sell VB its PRP$ Wiedemann NNP division NN to TO recently RB created VBN Murata NNP Wiedemann NNP Inc. NNP , , a DT U.S. NNP affiliate NN of IN Murata NNP Machinery NNP Ltd. NNP of IN Kyoto NNP , , Japan NNP . .
The DT agreement NN also RB includes VBZ the DT purchase NN of IN Cross NNP & CC Trecker NNP 's POS Warner NNP & CC Swasey NNP -LRB- -LRB- Switzerland NNP -RRB- -RRB- AG NNP unit NN by IN a DT European JJ affiliate NN of IN Murata NNP Machinery NNP . .
Cross NNP & CC Trecker NNP is VBZ also RB selling VBG its PRP$ equity NN interest NN in IN a DT Japanese JJ joint NN venture NN , , Murata NNP Warner NNP Swasey NNP , , to TO Murata NNP Machinery NNP . .
Cross NNP & CC Trecker NNP , , a DT Bloomfield NNP Hills NNPS , , Mich. NNP , , machine-tool JJ maker NN , , said VBD  the DT net JJ sales NNS price NN of IN the DT total JJ transaction NN is VBZ $ $ 24 CD million CD  . .
The DT Wiedemann NNP division NN was VBD one CD of IN three CD businesses NNS put VBN  up RP for IN sale NN in IN Cross NNP & CC Trecker NNP 's POS restructuring VBG program NN announced VBN  in IN July NNP . .
Cross NNP & CC Trecker NNP said VBD  negotiations NNS  are VBP under IN way NN for IN the DT sale NN of IN another DT company NN , , RobertsCorp NNP . .
The DT average JJ interest NN rate NN fell VBD to TO 8.292 CD % NN at IN Citicorp NNP 's POS $ $ 50 CD million CD  weekly JJ auction NN of IN 91-day JJ commercial JJ paper NN , , or CC corporate JJ IOUs NNS , , from IN 8.483 CD % NN at IN last JJ week NN 's POS sale NN . .
Bids NNS totaling VBG $ $ 465 CD million CD  were VBD submitted VBN  , , and CC accepted VBN bids NNS were VBD at IN 8.292 CD % NN . .
Citicorp NNP also RB said VBD that IN the DT average JJ rate NN fell VBD to TO 7.986 CD % NN at IN its PRP$ $ $ 50 CD million CD  auction NN of IN 182-day JJ commercial JJ paper NN from IN 8.1255 CD % NN at IN last JJ week NN 's POS sale NN . .
Bids NNS totaling VBG $ $ 415 CD million CD  were VBD submitted VBN  , , and CC accepted VBN bids NNS were VBD at IN 7.986 CD % NN . .
The DT bank NN holding VBG company NN will MD auction VB another DT $ $ 50 CD million CD  of IN commercial JJ paper NN in IN each DT maturity NN next IN Tuesday NNP . .
Matra NNP S.A. NNP reported VBD  its PRP$ 1989 CD first-half NN profit NN soared VBD 88 CD % NN , , and CC indicated VBD that IN its PRP$ previous JJ estimate NN of IN a DT 50 CD % NN rise NN in IN earnings NNS for IN all DT of IN 1989 CD will MD be VB exceeded VBN  by IN a DT wide JJ margin NN . .
The DT French JJ electronics NNS and CC defense NN group NN said VBD  attributable JJ consolidated VBN net JJ profit NN for IN the DT first JJ six CD months NNS of IN 1989 CD totaled VBD 244 CD million CD francs NNS -LRB- -LRB- $ $ 38.4 CD million CD  -RRB- -RRB- , , compared VBN with IN 130 CD million CD francs NNS -LRB- -LRB- $ $ 20.5 CD million CD  -RRB- -RRB- in IN the DT corresponding JJ period NN of IN
Operating VBG profit NN climbed VBD 51 CD % NN , , to TO 572 CD million CD francs NNS from IN 378 CD million CD in IN the DT first JJ half DT of IN 1988 CD . .
Matra NNP said VBD  the DT sharp JJ improvement NN in IN net JJ profit NN partly RB reflected VBD a DT decline NN of IN 59 CD million CD francs NNS in IN the DT group NN 's POS net JJ loss NN from IN nonrecurring VBG items NNS in IN the DT first JJ half DT of IN this DT year NN to TO 104 CD million CD francs NNS from IN 163 CD million CD a DT year NN earlier RBR . .
There EX was VBD also RB a DT decline NN in IN the DT group NN 's POS net JJ financial JJ costs NNS to TO 25 CD million CD francs NNS from IN 50 CD million CD a DT year NN before IN . .
These DT movements NNS were VBD offset VBN  , , however RB , , by IN a DT steep JJ rise NN in IN corporate JJ income NN tax NN payments NNS to TO 199 CD million CD francs NNS from IN 35 CD million CD in IN the DT first JJ six CD months NNS of IN 1988 CD . .
Matra NNP said VBD  the DT sharp JJ rise NN in IN its PRP$ first-half JJ earnings NNS was VBD based VBN  on IN a DT 15 CD % NN gain NN in IN consolidated JJ revenue NN to TO 10.16 CD billion CD francs NNS from IN 8.85 CD billion CD a DT year NN earlier RBR . .
Rep. NNP Lee NNP Hamilton NNP -LRB- -LRB- D. NNP , , Ind NNP . . -RRB- -RRB- said VBD  he PRP and CC Rep. NNP Byron NNP Dorgan NNP -LRB- -LRB- D. NNP , , N.D NNP . . -RRB- -RRB- are VBP backing VBG away RB from IN their PRP$ proposal NN  to TO make VB the DT Treasury NNP Secretary NNP a DT voting VBG member NN of IN the DT Federal NNP Reserve NNP panel NN that WDT  sets VBZ monetary JJ policy NN . .
Rep. NNP Hamilton NNP said VBD  the DT bill NN will MD be VB modified VBN  substantially RB  to TO call VB for IN two CD meetings NNS each DT year NN between IN the DT Fed NNP 's POS open JJ market NN committee NN and CC the DT Treasury NNP Secretary NNP , , the DT chairman NN of IN the DT Council NNP of IN Economic NNP Advisers NNPS and CC the DT director NN of IN the DT Office NNP of IN Management NNP and CC Budget NNP . .
The DT original JJ bill NN was VBD strongly RB opposed VBN by IN the DT Fed NNP and CC publicly RB criticized VBN by IN friends NNS of IN the DT Fed NNP as IN an DT attempt NN  to TO undermine VB the DT central JJ bank NN 's POS independence NN . .
Fed NNP critics NNS , , however RB , , hailed VBD it PRP as IN a DT long JJ overdue JJ attempt NN  to TO bring VB a DT measure NN of IN openness NN and CC democracy NN to TO the DT setting NN of IN monetary JJ policy NN . .
Rep. NNP Hamilton NNP said VBD  the DT purpose NN of IN the DT meetings NNS would MD be VB  to TO `` `` improve VB communications NNS and CC perhaps RB coordination NN between IN the DT executive JJ branch NN and CC the DT Fed NNP . . '' ''
Fed NNP Chairman NNP Alan NNP Greenspan NNP meets VBZ regularly RB for IN lunch NN with IN Treasury NNP Secretary NNP Nicholas NNP Brady NNP and CC talks VBZ frequently RB with IN Budget NNP Director NNP Richard NNP Darman NNP and CC Michael NNP Boskin NNP , , chairman NN of IN the DT Council NNP of IN Economic NNP Advisers NNPS . .
The DT administration NN officials NNS do VBP n't RB ordinarily RB meet VB with IN the DT entire JJ membership NN of IN the DT open JJ market NN committee NN . .
B.F. NNP Goodrich NNP Co. NNP said VBD  third-quarter JJ profits NNS dropped VBD 34 CD % NN because IN of IN lower JJR prices NNS for IN polyvinyl NN chloride NN materials NNS , , the DT company NN 's POS largest JJS product NN group NN . .
Net NN fell VBD to TO $ $ 40.1 CD million CD  , , or CC $ $ 1.50 CD  a DT share NN , , from IN $ $ 60.7 CD million CD  , , or CC $ $ 2.32 CD  a DT share NN , , a DT year NN earlier RBR . .
Sales NNS for IN the DT quarter NN slipped VBD 2.7 CD % NN to TO $ $ 601.3 CD million CD  from IN $ $ 618.1 CD million CD  . .
Polyvinyl NN chloride NN capacity NN `` `` has VBZ overtaken VBN demand NN and CC we PRP are VBP experiencing VBG reduced VBN profit NN margins NNS as IN a DT result NN , , '' '' said VBD   John NNP D. NNP Ong NNP , , chairman NN and CC chief NN executive NN . .
Prices NNS for IN general-purpose JJ PVC NNP resin NN have VBP dropped VBN more RBR than IN 15 CD % NN since IN last JJ December NNP , , he PRP said VBD   . .
The DT plastic JJ resin NN is VBZ used VBN  in IN a DT wide JJ range NN of IN products NNS , , including VBG siding NN , , pipe NN and CC electrical JJ wire NN insulation NN . .
Goodrich NNP 's POS vinyl-products NNS segment NN reported VBD operating VBG profit NN for IN the DT quarter NN of IN $ $ 30.1 CD million CD  , , less JJR than IN half PDT the DT $ $ 64.1 CD million CD  of IN the DT year-earlier JJ quarter NN . .
Third-quarter JJ operating VBG profit NN of IN the DT specialty-chemicals NNS group NN declined VBD slightly RB to TO $ $ 24.3 CD million CD  from IN $ $ 24.9 CD million CD  . .
But CC operating VBG profit NN from IN aerospace NN products NNS rose VBD nearly RB 50 CD % NN to TO $ $ 15 CD million CD  from IN $ $ 10.1 CD million CD  . .
In IN New NNP York NNP Stock NNP Exchange NNP composite JJ trading NN , , shares NNS of IN the DT Akron NNP , , Ohio-based JJ company NN fell VBD $ $ 1.375 CD  to TO $ $ 49.125 CD  . .
Fiat NNP S.p NNP . . A. NNP , , Italy NNP 's POS leading VBG industrial JJ group NN , , is VBZ conducting VBG `` `` concrete JJ '' '' talks NNS with IN West NNP Germany NNP 's POS Daimler-Benz NNP AG NNP on IN a DT series NN of IN projects NNS in IN the DT aerospace NN sector NN , , Fiat NNP officials NNS said VBD   . .
However RB , , the DT officials NNS said VBD  it PRP  was VBD too RB early JJ  to TO disclose VB the DT nature NN of IN the DT proposed VBN projects NNS or CC indicate VB when WRB the DT talks NNS might MD be VB concluded VBN   . .
Daimler-Benz NNP Chairman NNP Edzard NNP Reuter NNP told VBD Milan NNP 's POS financial JJ daily JJ Il NNP Sole NNP 24 CD Ore NNP that IN talks NNS  are VBP taking VBG place NN between IN both DT companies NNS ' POS aerospace NN units NNS . .
`` `` While IN Mr. NNP Reuter NNP 's POS comments NNS please VBP us PRP very RB much RB , , there EX currently RB are VBP no DT talks NNS in IN progress NN regarding VBG the DT automotive JJ industry NN , , '' '' a DT Fiat NNP spokeswoman NN said VBD  . .
In IN the DT interview NN , , Mr. NNP Reuter NNP said VBD  he PRP is VBZ thinking VBG foremost RB of IN cooperation NN in IN the DT truck NN sector NN , , but CC `` `` in IN the DT long JJ run NN , , I PRP do VBP n't RB want VB  to TO rule VB out RP that IN we PRP can MD also RB come VB a DT bit NN closer RBR in IN personal JJ cars NNS . . '' ''
Roberto NNP Morelli NNP , , Italy NNP analyst NN for IN County NNP Natwest NNP Securities NNPS in IN London NNP , , said VBD that IN right RB now RB `` `` the DT market NN is VBZ n't RB being VBG influenced VBN  by IN that DT kind NN of IN news NN , , '' ''  referring VBG to TO the DT conditional JJ nature NN of IN the DT talks NNS mentioned VBN  by IN Mr. NNP Reuter NNP and CC by IN the DT uncertainty NN surrounding VBG world NN stock NN exchanges NNS this DT week NN . .
Paul NNP Tanner NNP was VBD named VBN  president NN  , , chief NN executive NN officer NN  and CC chairman NN  of IN this DT oil NN and CC natural JJ gas NN company NN . .
He PRP succeeds VBZ John NNP A. NNP Boudreau NNP , , who WP  resigned VBD for IN personal JJ reasons NNS . .
Mr. NNP Tanner NNP had VBD been VBN president NN of IN Penn NNP Pacific NNP 's POS National NNP Southwest NNP Capital NNP Group NNP subsidiary NN . .
Mr. NNP Boudreau NNP will MD remain VB with IN Penn NNP Pacific NNP as IN a DT director NN and CC a DT member NN of IN the DT executive JJ committee NN . .
He PRP has VBZ also RB agreed VBN  to TO become VB president NN of IN a DT new JJ subsidiary NN   to TO be VB formed VBN   to TO make VB future JJ acquisitions NNS , , the DT company NN said VBD   . .
Spooked VBN investors NNS , , despite IN their PRP$ stampede NN  to TO dump VB takeover NN stocks NNS , , should MD hold VB on RP tight RB to TO their PRP$ Jaguar NNP shares NNS . .
That DT 's VBZ the DT view NN of IN some DT analysts NNS here RB who WP  argue VBP that IN Britain NNP 's POS leading VBG maker NN of IN luxury NN cars NNS still RB may MD have VB two CD U.S. NNP auto NN giants NNS battling VBG for IN it PRP . .
Yesterday NN , , Ford NNP Motor NNP disclosed VBD that IN it PRP has VBZ raised VBN its PRP$ holding NN in IN Jaguar NNP to TO 10.4 CD % NN from IN 5 CD % NN . .
Both DT Ford NNP and CC its PRP$ rival NN General NNP Motors NNPS recently RB set VBD their PRP$ sights NNS on IN  grabbing VBG significant JJ minority NN stakes NNS in IN the DT British JJ company NN . .
Ford NNP 's POS latest JJS move NN increases VBZ the DT pressure NN  on IN GM NNP  to TO complete VB its PRP$ current JJ talks NNS with IN Jaguar NNP quickly RB . .
GM NNP is VBZ likely JJ  to TO reach VB the DT cooperative JJ operating VBG pact NN  it PRP has VBZ been VBN seeking VBG  in IN about IN two CD weeks NNS , , knowledgeable JJ individuals NNS say VBP   . .
At IN that DT point NN investors NNS may MD face VB a DT long JJ , , bumpy JJ ride NN . .
A DT victor NN in IN the DT fight NN for IN Jaguar NNP may MD not RB emerge VB until IN after IN the DT expiration NN late JJ next JJ year NN of IN British JJ government NN takeover NN restrictions NNS . .
The DT curbs NNS prevent VBP a DT buyer NN from IN  purchasing VBG more RBR than IN 15 CD % NN of IN Jaguar NNP shares NNS without IN permission NN . .
`` `` This DT is VBZ an DT exceptionally RB odd JJ takeover NN battle NN , , '' '' says VBZ  London NNP analyst NN Christopher NNP Will NNP of IN Shearson NNP Lehman NNP Hutton NNP . .
Jaguar NNP 's POS American JJ depositary NN receipts NNS were VBD up IN 3\/8 CD yesterday NN in IN a DT down NN market NN , ,  closing VBG at IN 10 CD 3\/8 CD . .
-LRB- -LRB- Jaguar NNP 's POS ADRs NNS make VBP the DT company NN one CD of IN the DT most RBS widely RB held VBN United NNP Kingdom NNP stocks NNS in IN the DT U.S. NNP , , with IN more RBR than IN one-fourth NN of IN its PRP$ shares NNS owned VBN  there RB . . -RRB- -RRB-
Jaguar NNP topped VBD the DT most-active JJ list NN for IN the DT U.S. NNP over-the-counter JJ market NN Monday NNP . .
And CC on IN London NNP 's POS Stock NNP Exchange NNP Monday NNP , , 18.5 CD million CD shares NNS  were VBD traded VBN  , , far RB above IN the DT usual JJ volume NN . .
Ford NNP 's POS share NN purchases NNS undoubtedly RB accounted VBD for IN much RB of IN Monday NNP 's POS heavy JJ trading NN . .
Last JJ week NN , , many JJ Jaguar NNP shareholders NNS took VBD their PRP$ money NN and CC ran VBD . .
Fears NNS that IN Ford NNP 's POS ardor NN might MD be VB cooling VBG put VBP Jaguar NNP shares NNS into IN reverse NN after IN GM NNP confirmed VBD its PRP$ friendly JJ negotiations NNS with IN Jaguar NNP . .
But CC yesterday NN 's POS announcement NN indicates VBZ that IN Ford NNP has VBZ n't RB lost VBN interest NN . .
Both DT Shearson NNP 's POS Mr NNP . . Will NNP and CC Stephen NNP Reitman NNP , , European JJ auto NN analyst NN at IN the DT London NNP brokerage NN firm NN UBS-Phillips NNP & CC Drew NNP , , recently RB switched VBD their PRP$ Jaguar NNP recommendations NNS to TO hold VB from IN buy NN . .
`` ``  Sit VB tight RB '' '' through IN the DT coming VBG volatility NN , , Mr. NNP Reitman NNP suggests VBZ   , , though IN he PRP concedes VBZ that IN many JJ small JJ investors NNS will MD find VB Jaguar NNP 's POS zigzags NNS `` `` too RB hard JJ   to TO swallow VB  . . '' ''
But CC a DT crucial JJ point NN is VBZ how WRB Ford NNP reacts VBZ when WRB GM NNP , , the DT world NN 's POS largest JJS auto NN maker NN , , firms NNS up RP its PRP$ proposed VBN deal NN with IN Jaguar NNP   . .
At IN the DT moment NN , , Ford NNP executives NNS will MD say VB little JJ beyond IN  reiterating VBG their PRP$ desire NN  to TO raise VB Ford NNP 's POS Jaguar NNP stake NN to TO about IN 15 CD % NN . .
GM NNP is VBZ expected VBN  to TO inject VB roughly RB # # 200 CD million CD  -LRB- -LRB- $ $ 316 CD million CD  -RRB- -RRB- by IN  acquiring VBG some DT Jaguar NNP shares NNS , , and CC then RB win VB Jaguar NNP management NN 's POS promise NN of IN an DT eventual JJ 30 CD % NN stake NN . .
Analysts NNS believe VBP  the DT car NN makers NNS also RB will MD create VB joint JJ ventures NNS   to TO develop VB new JJ executive NN models NNS  , ,  doubling VBG Jaguar NNP 's POS yearly JJ output NN of IN 50,000 CD cars NNS . .
Jaguar NNP shareholders NNS would MD have VB  to TO bless VB such PDT a DT far-reaching JJ accord NN . .
Ford NNP might MD challenge VB the DT proposal NN by IN  offering VBG a DT full JJ bid NN if IN holders NNS and CC the DT U.K. NNP government NN agreed VBD  to TO drop VB the DT anti-takeover NN barrier NN early RB . .
`` `` I PRP think VBP  Ford NNP is VBZ going VBG  to TO come VB out RP with IN full JJ guns NNS blazing VBG , , '' '' Mr. NNP Reitman NNP says VBZ  . .
`` `` Ford NNP wants VBZ -LCB- -LRB- Jaguar NNP -RCB- -RRB- very RB much RB . . '' ''
U.S. NNP takeover-stock JJ speculators NNS , , who WP  may MD own VB between IN 20 CD % NN and CC 30 CD % NN  of IN Jaguar NNP , , could MD give VB Ford NNP enough RB votes NNS  to TO block VB the DT GM NNP deal NN . .
GM NNP might NN counterbid NN . .
Then RB , , Mr NNP . . Will NNP says VBZ , , `` ``  you PRP get VBP a DT bidding NN war NN between IN two CD very RB rich JJ , , very RB determined VBN international JJ companies NNS . . '' ''
He PRP believes VBZ  Jaguar NNP 's POS share NN price NN could MD zoom VB to TO between IN # # 8 CD and CC # # 10 CD  -LRB- -LRB- $ $ 12.60 CD to TO $ $ 15.80 CD  -RRB- -RRB- . .
`` `` There EX 's VBZ quite RB a DT bit NN of IN value NN left VBN  in IN the DT -LCB- -LRB- Jaguar NNP -RCB- -RRB- shares NNS here RB even RB though IN they PRP have VBP run VBN up RP '' '' lately RB , , says VBZ   Doug NNP Johnson NNP , , a DT fund NN manager NN for IN Seattle-based JJ Safeco NNP Asset NNP Management NNP . .
At IN the DT moment NN , , he PRP intends VBZ  to TO keep VB the DT firm NN 's POS 180,000 CD Jaguar NNP shares NNS . .
The DT risk NN is VBZ that IN Jaguar NNP 's POS share NN price NN could MD slump VB if IN GM NNP 's POS agreement NN with IN Jaguar NNP effectively RB locks VBZ out RP its PRP$ U.S. NNP rival NN . .
`` `` Ford NNP 's POS appetite NN  to TO attack VB -LCB- -LRB- Jaguar NNP -RCB- -RRB- could MD gradually RB wane VB over IN time NN , , particularly RB if IN Saab NNP is VBZ a DT reasonably RB attractive JJ proposition NN , , '' '' says VBZ  John NNP Lawson NNP , , an DT auto NN analyst NN at IN London NNP 's POS Nomura NNP Research NNP Institute NNP . .
He PRP thinks VBZ  Saab-Scania NNP AB NNP on IN Friday NNP will MD announce VB the DT sale NN of IN 50 CD % NN of IN its PRP$ car NN division NN to TO Ford NNP ; : the DT companies NNS have VBP been VBN discussing VBG closer JJR cooperation NN for IN months NNS . .
Clifford NNP Stahl NNP , , president NN  and CC chief NN investment NN officer NN  of IN C-S NNP Capital NNP Advisors NNPS Inc. NNP , , two CD weeks NNS ago IN sold VBD his PRP$ Cincinnati NNP firm NN 's POS 107,100 CD Jaguar NNP ADRs NNPS at IN about IN 10 CD each DT , ,  making VBG a DT tidy JJ profit NN on IN a DT holding NN purchased VBN  at IN 4 CD 7\/8 CD in IN early JJ May NNP . .
`` `` I PRP thought VBD  the DT probabilities NNS of IN -LCB- -LRB- a DT bidding NN war NN -RCB- -RRB- happening VBG were VBD less JJR , , '' '' he PRP says VBZ  . .
Of IN course NN , , that WDT was VBD before IN Ford NNP 's POS latest JJS move NN . .
Jaguar NNP -LRB- -LRB- OTC NNP ; : Symbol NN : : JAGRY NNP -RRB- -RRB-
Business NN : : Luxury NN cars NNS
Year NN ended VBD Dec. NNP 31 CD , , 1988 CD : :
Revenue NN : : $ $ 1.71 CD billion CD 
Net JJ income NN : : $ $ 44.9 CD million CD  ; : or CC 25 CD cents NNS a DT share NN
First JJ half DT ended VBD , , June NNP 30 CD , , 1989 CD : :
Net JJ loss NN : : $ $ 1.7 CD million CD  vs. CC net JJ income NN : : $ $ 21.2 CD million CD  ; : or CC 12 CD cents NNS a DT share NN
Averae NNP daily RB trading NN volume NN : : Ordinary JJ shares NNS outstanding JJ : : 182.9 CD million CD
NOTE NN : : All DT figures NNS are VBP translated VBN  into IN U.S. NNP dollars NNS based VBN on IN current JJ exchange NN rates NNS . .
A.F. NNP Sloan NNP , , 60 CD years NNS old JJ , , announced VBD that IN he PRP will MD retire VB next JJ April NNP as IN chairman NN  and CC chief NN executive JJ officer NN  of IN this DT snack NN food NN and CC bakery NN products NNS maker NN . .
No DT replacement NN was VBD immediately RB named VBN  . .
Mr. NNP Sloan NNP plans VBZ  to TO remain VB on IN the DT board NN until IN his PRP$ current JJ term NN expires VBZ in IN April NNP 1991 CD , , a DT Lance NNP spokesman NN said VBD   . .
Newport NNP Electronics NNP Inc. NNP of IN Santa NNP Ana NNP , , Calif. NNP , , said VBD  Milton NNP B. NNP Hollander NNP , , who WP  holds VBZ a DT 49.4 CD % NN stake NN , , requested VBD a DT special JJ shareholders NNS ' POS meeting NN next IN Wednesday NNP  to TO remove VB four CD current JJ directors NNS and CC elect VB an DT alternative JJ slate NN . .
Mr. NNP Hollander NNP 's POS High NNP Technology NNP Holding NNP Co. NNP of IN Stamford NNP , , Conn. NNP , , acquired VBD most JJS of IN its PRP$ stake NN last JJ August NNP in IN an DT $ $ 11-a-share JJ  tender NN offer NN for IN Newport NNP , , a DT maker NN of IN electronic-measuring JJ devices NNS . .
Newport NNP said VBD  Mr. NNP Hollander NNP is VBZ asking VBG shareholders NNS  to TO retain VB only RB one CD director NN , , James NNP R. NNP Lees NNP , , a DT Newport NNP vice NN president NN . .
The DT board NN is VBZ n't RB proposing VBG a DT slate NN of IN its PRP$ own JJ and CC the DT other JJ four CD current JJ directors NNS do VBP n't RB want VB  to TO serve VB beyond IN the DT special JJ meeting NN date NN , , Newport NNP said VBD   . .
Mr. NNP Hollander NNP `` `` is VBZ the DT new JJ owner NN and CC wants VBZ  to TO exercise VB control NN , , '' '' said VBD Barret NNP B. NNP Weekes NNP , , Newport NNP 's POS chairman NN . .
Sandoz NNP AG NNP , , a DT major JJ Swiss NNP chemical NN and CC pharmaceutical JJ group NN , , said VBD that DT its PRP$ group NN sales NNS rose VBD 25 CD % NN to TO 9.482 CD billion CD francs NNS -LRB- -LRB- $ $ 5.80 CD billion CD  -RRB- -RRB- in IN the DT first JJ nine CD months NNS of IN this DT year NN , , with IN strong JJ gains NNS in IN all DT divisions NNS . .
A DT year NN earlier JJR sales NNS totaled VBD 7.567 CD billion CD francs NNS . .
Positive JJ currency NN rates NNS and CC strong JJ sales NNS growth NN led VBD to TO a DT substantial JJ rise NN in IN consolidated JJ profit NN in IN the DT period NN , , although IN the DT company NN did VBD n't RB provide VB figures NNS , ,  as IN  is VBZ customary JJ with IN Swiss NNP companies NNS . .
Sandoz NNP said VBD  it PRP expects VBZ a DT `` `` substantial JJ increase NN '' '' in IN consolidated JJ profit NN for IN the DT full JJ year NN , ,  barring VBG major JJ currency NN rate NN changes NNS . .
Amstrad NNP PLC NNP , , a DT British JJ maker NN of IN computer NN hardware NN and CC communications NNS equipment NN , , posted VBD a DT 52 CD % NN plunge NN in IN pretax NN profit NN for IN the DT latest JJS year NN . .
The DT # # 76.6 CD million CD  -LRB- -LRB- $ $ 120.6 CD million CD  -RRB- -RRB- in IN pretax NN profit NN for IN the DT 12 CD months NNS to TO June NNP 30 CD was VBD down IN from IN # # 160 CD million CD  -LRB- -LRB- $ $ 252 CD million CD  -RRB- -RRB- a DT year NN earlier RBR and CC below IN market NN expectations NNS of IN # # 80 CD million CD and CC # # 90 CD million CD  . .
The DT slump NN in IN profit NN , , which WDT  came VBD despite IN steady JJ sales NNS , , was VBD attributed VBN  to TO increased VBN costs NNS for IN parts NNS and CC problems NNS with IN model NN introductions NNS . .
Amstrad NNP 's POS profit NN after IN taxes NNS fell VBD a DT similarly RB steep JJ 51 CD % NN , , to TO # # 51.1 CD million CD  from IN # # 105 CD million CD  a DT year NN earlier RBR . .
Sales NNS edged VBD up IN fractionally RB to TO # # 626.3 CD million CD  from IN # # 625.4 CD million CD  a DT year NN earlier RBR . .
Microsoft NNP Corp. NNP 's POS earnings NNS growth NN continued VBD  to TO outstrip VB that IN of IN most JJS of IN its PRP$ competitors NNS and CC customers NNS in IN the DT personal-computer NN industry NN , , as IN it PRP reported VBD a DT 36 CD % NN jump NN in IN fiscal JJ first-quarter NN earnings NNS on IN a DT 33 CD % NN revenue NN gain NN . .
The DT Redmond NNP , , Wash. NNP company NN , , a DT bellwether NN provider NN of IN operating VBG systems NNS and CC software NN for IN personal-computer NN makers NNS and CC users NNS , , reported VBD net JJ income NN for IN the DT quarter NN ended VBD Sept. NNP 30 CD of IN $ $ 49.6 CD million CD  , , or CC 87 CD cents NNS a DT share NN , , up IN from IN $ $ 36.6 CD million CD  , , or CC 65 CD cents NNS a DT share NN , , in IN the DT year-ago JJ period NN . .
Revenue NN rose VBD to TO $ $ 235.2 CD million CD  , , from IN $ $ 176.4 CD million CD  . .
Microsoft NNP previously RB indicated VBD  it PRP would MD have VB a DT strong JJ quarter NN by IN  forecasting VBG its PRP$ revenue NN gain NN on IN Oct. NNP 4 CD , ,  causing VBG a DT $ $ 6.50 CD  a DT share NN jump NN in IN its PRP$ stock NN . .
But CC its PRP$ stock NN jumped VBD again RB yesterday NN as IN it PRP disclosed VBD surprisingly RB strong JJ margins NNS on IN those DT sales NNS . .
Microsoft NNP 's POS stock NN rose VBD $ $ 2.875 CD  a DT share NN in IN national JJ over-the-counter JJ trading NN to TO $ $ 78.625 CD  . .
The DT stock NN had VBD hit VBN a DT high JJ of IN $ $ 81 CD  a DT share NN early JJ last JJ week NN but CC collapsed VBD to TO $ $ 73.50 CD  in IN the DT Friday NNP stock NN plunge NN . .
The DT company NN had VBD been VBN experiencing VBG softening VBG margins NNS because IN of IN increased VBN sales NNS of IN software NN applications NNS , , which WDT  have VBP lower JJR margins NNS than IN do VBP  operating VBG systems NNS . .
But CC the DT company NN said VBD  that DT trend NN was VBD offset VBN  in IN the DT first JJ quarter NN by IN better JJR economies NNS of IN scale NN and CC efficiencies NNS in IN manufacturing NN . .
As IN a DT result NN , , Microsoft NNP 's POS cost NN of IN goods NNS , , as IN a DT percentage NN of IN sales NNS , , fell VBD 17 CD % NN from IN the DT year-ago JJ quarter NN and CC 13 CD % NN from IN the DT previous JJ period NN . .
The DT trend NN drove VBD up IN the DT aftertax NN margin NN -- : net JJ income NN as IN a DT percentage NN of IN revenues NNS -- : to TO 21.1 CD % NN in IN the DT quarter NN , , compared VBN with IN 20.7 CD % NN a DT year NN earlier RBR . .
Microsoft NNP officials NNS said VBD  the DT strong JJ results NNS also RB reflected VBD continuing VBG high JJ demand NN for IN its PRP$ software NN applications NNS and CC operating VBG systems NNS . .
While IN it PRP has VBZ predicted VBN that IN overall JJ growth NN in IN unit NN sales NNS of IN personal JJ computers NNS is VBZ slowing VBG to TO about IN a DT 10 CD % NN yearly JJ rate NN , , its PRP$ own JJ products NNS are VBP selling VBG at IN a DT much JJ faster JJR rate NN because IN many JJ are VBP geared VBN  to TO the DT high-performance NN end NN of IN the DT market NN . .
That DT segment NN continues VBZ  to TO post VB strong JJ quarter-to-quarter JJ gains NNS , , while IN the DT low-end NN , , or CC commodity NN segment NN , , of IN the DT industry NN is VBZ experiencing VBG sluggish JJ growth NN or CC even JJ sales NNS declines NNS . .
Compared VBN with IN its PRP$ previous JJ quarter NN , , the DT final JJ period NN of IN its PRP$ 1989 CD fiscal JJ year NN , , net NN rose VBD 9 CD % NN , , and CC sales NNS rose VBD 7 CD % NN . .
Control NNP Data NNP Corp. NNP , , Minneapolis NNP , , signed VBD a DT joint JJ development NN agreement NN  with IN MIPS NNP Computer NNP Systems NNPS Inc. NNP  to TO incorporate VB an DT emerging VBG computing VBG architecture NN in IN future JJ machines NNS . .
MIPS NNP is VBZ a DT leader NN in IN what WP  is VBZ known VBN  as IN reduced-instruction NN set NN computing NN , , or CC RISC NNP , , a DT technology NN combining VBG microprocessors NNS and CC sophisticated JJ software NN . .
In IN  joining VBG MIPS NNP , , Control NNP Data NNP follows VBZ several JJ competitors NNS in IN  embracing VBG RISC NNP as IN a DT new JJ design NN approach NN . .
Digital NNP Equipment NNP Corp. NNP , , Tandem NNP Computers NNPS Inc. NNP , , NEC NNP Corp. NNP and CC Group NNP Bull NNP , , among IN others NNS , , have VBP similar JJ arrangements NNS with IN MIPs NNP , , based VBN  in IN Sunnyvale NNP , , Calif NNP . .
Control NNP Data NNP said VBD  it PRP expects VBZ its PRP$ first JJ RISC-based JJ mainframe JJ machine NN  to TO be VB introduced VBN  next JJ year NN . .
The DT accord NN with IN MIPS NNP calls VBZ for IN Control NNP Data NNP to TO share VB its PRP$ expertise NN in IN data NNS storage NN , , the DT companies NNS said VBD   . .
Control NNP Data NNP also RB said VBD  it PRP is VBZ developing VBG what WP it PRP called VBD  a DT `` `` supermainframe NN '' '' computer NN , , the DT Cyber NNP 2000 CD , , intended VBN  for IN scientists NNS , , engineers NNS and CC other JJ users NNS of IN generalpurpose JJ high-performance JJ computers NNS . .
UAL'S NNP STOCK NN SKIDDED VBD an DT additional JJ $ $ 24.875 CD  , , to TO $ $ 198 CD  , , as IN British NNP Airways NNPS indicated VBD  it PRP may MD balk VB at IN any DT hastily RB revised VBN version NN of IN the DT aborted VBN $ $ 6.79 CD billion CD  buy-out NN of IN United NNP Air NNP 's POS parent NN . .
UAL NNP has VBZ fallen VBN $ $ 87.25 CD  , , or CC 31 CD % NN , , in IN the DT three CD trading NN days NNS since IN disclosure NN of IN the DT buy-out NN 's POS collapse NN jolted VBD the DT stock NN market NN . .
Meanwhile RB , , investor NN Marvin NNP Davis NNP said VBD  he PRP remains VBZ interested VBN in IN UAL NNP , , but CC he PRP dropped VBD his PRP$ earlier JJR $ $ 300-a-share JJ  back-up NN bid NN . .
Stock NN prices NNS fell VBD broadly RB in IN heavy JJ trading NN , ,  dominated VBN by IN futures-related JJ program NN selling NN and CC further JJ declines NNS by IN UAL NNP and CC other JJ airline NN stocks NNS . .
The DT Dow NNP Jones NNP industrials NNS closed VBD off RB 18.65 CD points NNS , , at IN 2638.73 CD , , after IN  plunging VBG over IN 60.25 CD points NNS in IN the DT morning NN . .
Bond NN prices NNS ended VBD lower JJR after IN an DT early JJ rally NN , , while IN the DT dollar NN was VBD mixed VBN  . .
The DT U.S. NNP trade NN deficit NN swelled VBD to TO $ $ 10.77 CD billion CD  in IN August NNP , ,  prompting VBG worries NNS that IN the DT nation NN 's POS export NN drive NN had VBD stalled VBN . .
Exports NNS declined VBD for IN the DT second JJ month NN in IN a DT row NN , , while IN imports NNS rose VBD to TO a DT record NN . .
An DT analyst NN called VBD it PRP one CD of IN the DT worst JJS trade NN reports NNS since IN the DT dollar NN bottomed VBD out RP in IN
Industrial JJ output NN fell VBD 0.1 CD % NN in IN September NNP , , the DT latest JJS sign NN  manufacturing NN is VBZ slowing VBG . .
An DT analyst NN cited VBD weaker JJR capital NN spending NN and CC exports NNS . .
Bankers NNPS Trust NNP  added VBD $ $ 1.6 CD billion CD  to TO reserves NNS for IN Third NNP World NNP loans NNS , , the DT latest JJS big JJ bank NN  to TO take VB such PDT a DT step NN . .
It PRP expects VBZ a DT $ $ 1.42 CD billion CD  quarterly JJ loss NN . .
Citicorp NNP posted VBD a DT 9 CD % NN drop NN in IN quarterly JJ profit NN . .
Manufacturers NNPS Hanover NNP had VBD a DT loss NN due JJ to TO a DT big JJ reserve NN addition NN . .
Bank NNP of IN New NNP England NNP plans VBZ  to TO sell VB some DT operations NNS and CC lay VB off RP 4 CD % NN of IN its PRP$ work NN force NN after IN a DT year NN of IN weak JJ earnings NNS and CC mounting VBG loan NN problems NNS . .
Eastern NNP Airlines NNPS ' POS creditors NNS have VBP begun VBN  exploring VBG alternative JJ approaches NNS to TO a DT Chapter NN 11 CD reorganization NN because IN they PRP are VBP unhappy JJ with IN the DT carrier NN 's POS latest JJS proposal NN . .
Tele-Communications NNPS agreed VBD  to TO buy VB half DT of IN Showtime NNP Networks NNPS from IN Viacom NNP for IN $ $ 225 CD million CD  . .
The DT move NN could MD pose VB a DT new JJ challenge NN to TO Time NNP Warner NNP 's POS Home NNP Box NNP Office NNP . .
The DT CFTC NNP plans NNS  to TO curb VB dual JJ trading NN on IN commodities NNS markets NNS , , in IN which WDT traders NNS buy VBP and CC sell VBP both DT for IN their PRP$ own JJ account NN and CC for IN clients NNS . .
The DT move NN is VBZ likely JJ  to TO anger NN traders NNS . .
FDIC NNP Chairman NNP Seidman NNP said VBD that IN Lincoln NNP Savings NNP & CC Loan NNP of IN California NNP should MD have VB been VBN seized VBN  in IN 1986 CD  to TO contain VB losses NNS  he PRP estimated VBD   will MD cost VB taxpayers NNS as RB much RB as IN $ $ 2 CD billion CD  . .
A DT $ $ 67 CD billion CD  spending VBG bill NN  was VBD approved VBN  by IN House-Senate NNP conferees NNS that WDT  includes VBZ major JJ provisions NNS affecting VBG the DT federal JJ mortgage NN market NN . .
Hooker NNP 's POS U.S. NNP unit NN is VBZ expected VBN  to TO agree VB in IN principle NN this DT week NN  to TO sell VB its PRP$ Merksamer NNP Jewelers NNPS chain NN to TO management NN , , according VBG to TO executives NNS . .
The DT deficit-reduction NN bill NN became VBD snagged VBN over IN efforts NNS  to TO streamline VB the DT House NN version NN of IN the DT legislation NN in IN advance NN of IN a DT House-Senate NNP conference NN . .
Integrated NNP Resources NNPS said VBD  talks NNS  have VBP ended VBN with IN another DT potential JJ buyer NN of IN its PRP$ core NN businesses NNS . .
Three CD big JJ drug NN makers NNS posted VBD robust JJ third-quarter NN earnings NNS . .
Merck NNP 's POS profit NN climbed VBD 25 CD % NN , , Warner-Lambert NNP 's POS 22 CD % NN and CC Eli NNP Lilly NNP 's POS 24 CD % NN . .
Markets NNS -- :
Stocks NNS : : Volume NN 224,070,000 CD shares NNS . .
Dow NNP Jones NNP industrials NNS 2638.73 CD , , off IN 18.65 CD ; : transportation NN 1254.27 CD , , off IN 49.96 CD ; : utilities NNS 214.54 CD , , off IN 0.19 CD . .
Bonds NNS : : Shearson NNP Lehman NNP Hutton NNP Treasury NNP index NN 3377.43 CD , , off IN
Commodities NNS : : Dow NNP Jones NNP futures NNS index NN 129.72 CD , , unchanged JJ ; : spot NN index NN 129.97 CD , , off IN 0.19 CD . .
Dollar NN : : 142.75 CD yen NN , , up IN 0.95 CD ; : 1.8667 CD marks NNS , , off IN 0.0018 CD . .
Paul NNP Ely NNP , , general JJ partner NN of IN Alpha NNP Partners NNPS , , a DT venture-capital JJ firm NN based VBN  in IN Menlo NNP Park NNP , , Calif. NNP , , was VBD named VBN  a DT director NN of IN this DT computer NN company NN . .
Mr. NNP Ely NNP , , 57 CD years NNS old JJ , , temporarily RB increases VBZ the DT board NN to TO seven CD members NNS . .
However RB , , director NN Thomas NNP O'Rourke NNP has VBZ said VBN  he PRP wo MD n't RB seek VB re-election NN at IN the DT company NN 's POS annual JJ meeting NN next IN month NN . .
BroadBeach NNP Associates NNPS Inc. NNP , , the DT Los NNP Angeles NNP investment NN partnership NN whose WP$ $ $ 62-a-share JJ  bid NN for IN McGill NNP Manufacturing NNP Co. NNP  was VBD topped VBN  recently RB by IN a DT competing VBG offer NN from IN a DT Swedish JJ concern NN , , disclosed VBD that IN it PRP sold VBD its PRP$ entire JJ 7 CD % NN McGill NNP stake NN . .
McGill NNP , , a DT Valparaiso NNP , , Ind. NNP , , ball-bearing NN manufacturer NN , , had VBD rebuffed VBN BroadBeach NNP 's POS proposal NN . .
It PRP has VBZ since IN asked VBN holders NNS  not RB to TO immediately RB tender VB their PRP$ shares NNS under IN a DT recent JJ $ $ 72-a-share JJ  , , or CC $ $ 104 CD million CD  , , bid NN from IN AB NNP SKF NNP of IN Sweden NNP , , until IN McGill NNP directors NNS have VBP completed VBN their PRP$ evaluation NN . .
In IN a DT Securities NNPS and CC Exchange NNP Commission NNP filing NN , , BroadBeach NNP said VBD  it PRP sold VBD the DT 101,000 CD McGill NNP shares NNS for IN $ $ 7.3 CD million CD  in IN a DT private JJ transaction NN on IN Oct. NNP 12 CD . .
BroadBeach NNP did VBD n't RB identify VB the DT buyer NN of IN the DT shares NNS , , but CC the DT date NN of IN the DT selloff NN followed VBN by IN one CD day NN the DT Swedish JJ concern NN 's POS tender NN offer NN , , and CC the DT indicated VBN price NN of IN the DT shares NNS sold VBN  equals VBZ SKF NNP 's POS $ $ 72-a-share JJ  tender NN offer NN price NN . .
A DT BroadBeach NNP spokeswoman NN said VBD  the DT company NN sold VBD the DT stock NN in IN the DT open JJ market NN and CC thus RB could MD n't RB identify VB the DT buyer NN or CC buyers NNS . .
Luis NNP Nogales NNP , , 45 CD years NNS old JJ , , has VBZ been VBN elected VBN  to TO the DT board NN of IN this DT brewer NN . .
Mr. NNP Nogales NNP , , former JJ president NN of IN United NNP Press NNP International NNP and CC the DT Univision NNP Spanish-language NNP network NN , , most RBS recently RB co-founded VBD Nogales NNP Castro NNP Partners NNPS , , a DT California-based JJ media NNS acquisition NN firm NN . .
Mr. NNP Nogales NNP , , the DT first RB Hispanic JJ person NN   to TO serve VB as IN a DT Coors NNP director NN , , is VBZ an DT addition NN to TO the DT board NN , ,  increasing VBG its PRP$ membership NN to TO nine CD . .
Hachette NNP S.A. NNP , , a DT European JJ media NNS and CC publishing NN group NN , , reported VBD a DT small JJ rise NN in IN its PRP$ attributable JJ first-half JJ group NN profit NN , , excluding VBG exceptional JJ items NNS , , to TO 133.8 CD million CD francs NNS -LRB- -LRB- $ $ 21.1 CD million CD  -RRB- -RRB- from IN 130.1 CD million CD francs NNS a DT year NN earlier RBR . .
The DT Paris-based JJ group NN said VBD  its PRP$ earlier JJR projection NN -- : that IN group NN profit NN for IN all DT of IN 1989 CD would MD be VB close JJ to TO the DT 322.7 CD million CD francs NNS posted VBN  for IN 1988 CD -- : remains VBZ valid JJ . .
 Taking VBG into IN account NN nonrecurring VBG gains NNS and CC losses NNS , , Hachette NNP 's POS group NN net NN income NN for IN the DT first JJ six CD months NNS of IN this DT year NN totaled VBD 246.6 CD million CD francs NNS , , practically RB double RB the DT year-earlier JJ figure NN of IN 124.5 CD million CD francs NNS . .
Analysts NNS said VBD  Hachette NNP 's POS earnings NNS in IN the DT second JJ half DT might MD be VB boosted VBN  by IN a DT capital NN gain NN from IN the DT sale NN of IN the DT Paris NNP headquarters NN of IN a DT newspaper-delivery NN company NN that WDT  is VBZ 49 CD % NN owned VBN  by IN Hachette NNP . .
Oncor NNP Inc. NNP , , Gaithersburg NNP , , Md. NNP , , said VBD  it PRP received VBD approval NN  from IN the DT U.S. NNP Food NNP and CC Drug NNP Administration NNP  to TO market VB a DT genetic JJ test NN that WDT  will MD assist VB in IN diagnosis NN and CC treatment NN of IN leukemia NN and CC lymph NN cancer NN . .
The DT B\/T NNP gene NN rearrangement NN test NN is VBZ more RBR accurate JJ than IN existing VBG tests NNS for IN  diagnosing VBG the DT type NN of IN cancer NN , , whether IN it PRP has VBZ spread VBN or CC whether IN there EX is VBZ a DT recurrence NN following VBG treatment NN , , said VBD   Oncor NNP President NNP Stephen NNP Turner NNP . .
Mr. NNP Turner NNP said VBD  the DT test NN initially RB will MD be VB used VBN in IN conjunction NN with IN biopsies NNS and CC other JJ tests NNS , , but CC eventually RB might MD become VB the DT benchmark NN for IN tumor NN analysis NN . .
Mr. NNP Turner NNP said VBD  the DT test NN will MD be VB shipped VBN  in IN 45 CD days NNS to TO hospitals NNS and CC clinical JJ laboratories NNS . .
Dr. NNP Wyndham NNP Wilson NNP , , a DT cancer NN treatment NN specialist NN at IN the DT National NNP Cancer NNP Institute NNP , , said VBD  the DT test NN is VBZ widely RB used VBN in IN research NN centers NNS but CC is VBZ n't RB having VBG a DT major JJ impact NN because IN it PRP is VBZ only RB occasionally RB useful JJ in IN  choosing VBG the DT most JJS effective JJ treatment NN . .
But CC the DT test NN may MD prove VB  to TO be VB more RBR sensitive JJ in IN  determining VBG whether IN a DT tumor NN has VBZ spread VBN or CC returned VBN following VBG treatment NN , , Dr. NNP Wilson NNP said VBD   . .
`` `` We PRP do VBP n't RB know VB yet RB how WRB useful JJ it PRP 's VBZ going VBG  to TO be VB  , , '' '' he PRP said VBD  . .
Oncor NNP , , a DT six-year-old JJ developer NN of IN genetic JJ medical JJ tests NNS , , projects VBZ that IN the DT cancer NN test NN will MD help VB it PRP  to TO post VB its PRP$ first-ever JJ profit NN during IN the DT first JJ quarter NN of IN 1990 CD , , Mr. NNP Turner NNP said VBD   . .
The DT company NN will MD charge VB $ $ 35 CD  for IN a DT test NN and CC projects VBZ about IN $ $ 2 CD million CD  in IN revenue NN from IN the DT test NN during IN the DT first JJ 12 CD months NNS of IN marketing NN , , he PRP said VBD   . .
Unilab NNP Corp. NNP , , Norcross NNP , , Ga. NNP , , said VBD  it PRP acquired VBD the DT clinical JJ laboratories NNS of IN closely RB held VBN Central NNP Diagnostic NNP Laboratory NNP Inc. NNP in IN a DT cash NN and CC securities NNS transaction NN valued VBN  at IN $ $ 85 CD million CD  . .
Unilab NNP said VBD  its PRP$ wholly RB owned VBN MetWest NNP Inc. NNP unit NN paid VBD $ $ 25 CD million CD  in IN cash NN , , provided VBN $ $ 30 CD million CD  in IN notes NNS and CC $ $ 30 CD million CD  in IN preferred VBN stock NN  to TO acquire VB Central NNP 's POS labs NNS in IN the DT Western NNP U.S. NNP . .
Unilab NNP , , which WDT  provides VBZ clinical JJ laboratory NN services NNS , , competed VBD with IN Central NNP , , based VBN  in IN Tarzana NNP , , Calif. NNP , , in IN a DT number NN of IN areas NNS . .
Beyond IN  removing VBG a DT competitor NN , , the DT combination NN should MD provide VB `` `` synergies NNS , , '' '' said VBD   Fred NNP Harlow NNP , , Unilab NNP 's POS chief NN financial JJ officer NN . .
It PRP also RB will MD hand VB Unilab NNP new JJ markets NNS . .
In IN Los NNP Angeles NNP , , for IN example NN , , Central NNP has VBZ had VBN a DT strong JJ market NN position NN while IN Unilab NNP 's POS presence NN has VBZ been VBN less RBR prominent JJ , , according VBG to TO Mr. NNP Harlow NNP . .
Consumers NNS may MD want VB  to TO move VB their PRP$ telephones NNS a DT little RB closer RBR to TO the DT TV NN set NN . .
Couch-potato NN jocks NNS watching VBG ABC NNP 's POS `` `` Monday NNP Night NNP Football NNP '' '' can MD now RB vote VB during IN halftime NN for IN the DT greatest JJS play NN in IN 20 CD years NNS from IN among IN four CD or CC five CD filmed VBN replays NNS . .
Two CD weeks NNS ago RB , , viewers NNS of IN several JJ NBC NNP daytime JJ consumer NN segments NNS started VBD  calling VBG a DT 900 CD number NN for IN advice NN on IN various JJ life-style NN issues NNS . .
And CC the DT new JJ syndicated JJ `` `` reality NN '' '' show NN `` `` Hard NNP Copy NNP '' '' records VBZ viewers NNS ' POS opinions NNS for IN possible JJ airing NN on IN the DT next JJ day NN 's POS show NN . .
Interactive JJ telephone NN technology NN has VBZ taken VBN a DT new JJ leap NN in IN sophistication NN , , and CC television NN programmers NNS are VBP racing VBG  to TO exploit VB the DT possibilities NNS . .
Eventually RB viewers NNS may MD grow VB bored VBN with IN the DT technology NN and CC resent VB the DT cost NN . .
But CC right RB now RB programmers NNS are VBP figuring VBG that IN viewers NNS who WP  are VBP busy JJ  dialing NN up RP a DT range NN of IN services NNS may MD put VB down RP their PRP$ remote JJ control NN zappers NNS and CC stay VB tuned VBN . .
`` `` We PRP 've VBP been VBN spending VBG a DT lot NN of IN time NN in IN Los NNP Angeles NNP  talking VBG to TO TV NN production NN people NNS , , '' '' says VBZ  Mike NNP Parks NNP , , president NN of IN Call NNP Interactive NNP , , which WDT  supplied VBD technology NN for IN both DT ABC NNP Sports NNPS and CC NBC NNP 's POS consumer NN minutes NNS . .
`` `` With IN the DT competitiveness NN of IN the DT television NN market NN these DT days NNS , , everyone NN is VBZ looking VBG for IN a DT way NN   to TO get VB viewers NNS more RBR excited JJ  . . '' ''
One CD of IN the DT leaders NNS behind IN the DT expanded VBN use NN of IN 900 CD numbers NNS is VBZ Call NNP Interactive NNP , , a DT joint JJ venture NN of IN giants NNS American NNP Express NNP Co. NNP and CC American NNP Telephone NNP & CC Telegraph NNP Co NNP . .
 Formed VBN  in IN August NNP , , the DT venture NN weds VBZ AT&T NNP 's POS newly RB expanded VBN 900 CD service NN with IN 200 CD voice-activated JJ computers NNS in IN American NNP Express NNP 's POS Omaha NNP , , Neb. NNP , , service NN center NN . .
Other JJ long-distance NN carriers NNS have VBP also RB begun VBN  marketing NN enhanced VBN 900 CD service NN , , and CC special JJ consultants NNS are VBP springing VBG up RP  to TO exploit VB the DT new JJ tool NN . .
Blair NNP Entertainment NNP , , a DT New NNP York NNP firm NN that WDT  advises VBZ TV NN stations NNS and CC sells VBZ ads NNS for IN them PRP , , has VBZ just RB formed VBN a DT subsidiary NN -- : 900 CD Blair NNP -- :   to TO apply VB the DT technology NN to TO television NN . .
The DT use NN of IN 900 CD toll NN numbers NNS has VBZ been VBN expanding VBG rapidly RB in IN recent JJ years NNS . .
For IN a DT while NN , , high-cost JJ pornography NN lines NNS and CC services NNS that WDT  tempt VBP children NNS to TO dial VB -LRB- -LRB- and CC redial VB -RRB- -RRB- movie NN or CC music NN information NN earned VBD the DT service NN a DT somewhat RB sleazy JJ image NN , , but CC new JJ legal JJ restrictions NNS are VBP aimed VBN  at IN  trimming VBG excesses NNS . .
The DT cost NN of IN a DT 900 CD call NN is VBZ set VBN  by IN the DT originator NN -- : ABC NNP Sports NNPS , , for IN example NN -- : with IN the DT cheapest JJS starting NN at IN 75 CD cents NNS . .
Billing NN is VBZ included VBN  in IN a DT caller NN 's POS regular JJ phone NN bill NN . .
From IN the DT fee NN , , the DT local JJ phone NN company NN and CC the DT long-distance NN carrier NN extract VB their PRP$ costs NNS   to TO carry VB the DT call NN  , ,  passing VBG the DT rest NN of IN the DT money NN to TO the DT originator NN , , which WDT  must MD cover VB advertising NN and CC other JJ costs NNS . .
In IN recent JJ months NNS , , the DT technology NN has VBZ become VBN more RBR flexible JJ and CC able JJ  to TO handle VB much RB more JJR volume NN . .
Before IN , , callers NNS of IN 900 CD numbers NNS would MD just RB listen VB and CC not RB talk VB , , or CC they PRP 'd MD vote VB `` `` yes UH '' '' or CC `` `` no UH '' '' by IN  calling VBG one CD of IN two CD numbers NNS . .
-LRB- -LRB- People NNS in IN the DT phone NN business NN call VBP this DT technology NN `` `` 900 CD click NN . . '' '' -RRB- -RRB-
Now RB , , callers NNS are VBP led VBN  through IN complex JJ menus NNS of IN choices NNS  to TO retrieve VB information NN  they PRP want VBP  , , and CC the DT hardware NN can MD process VB 10,000 CD calls NNS in IN 90 CD seconds NNS . .
Up IN to TO now RB , , 900 CD numbers NNS have VBP mainly RB been VBN used VBN  on IN local JJ TV NN stations NNS and CC cable NN channels NNS . .
MTV NNP used VBD one NN  to TO give VB away RP the DT house NN that DT rock NN star NN Jon NNP Bon NNP Jovi NNP grew VBD up RP in RB  . .
For IN several JJ years NNS , , Turner NNP Broadcasting NNP System NNP 's POS Cable NNP News NNP Network NNP has VBZ invited VBN viewers NNS to TO respond VB nightly RB to TO topical JJ issues NNS -LRB- -LRB- `` `` Should NNP the DT U.S. NNP military NN intervene VB in IN Panama NNP ? . '' '' -RRB- -RRB- , , but CC even RB the DT hottest JJS controversies NNS on IN CNN NNP log VBP only RB about IN 10,000 CD calls NNS . .
The DT newest JJS uses NNS of IN the DT 900-interactive JJ technology NN demonstrate VBP the DT growing VBG variety NN of IN applications NNS . .
Capital NNP Cities\/ABC NNP Inc. NNP , , CBS NNP Inc. NNP and CC General NNP Electric NNP Co. NNP 's POS National NNP Broadcasting NNP Co. NNP unit NN are VBP expected VBN  to TO announce VB soon RB a DT joint JJ campaign NN   to TO raise VB awareness NN about IN hunger NN . .
The DT subject NN will MD be VB written VBN  into IN the DT plots NNS of IN prime-time JJ shows NNS , , and CC viewers NNS will MD be VB given VBN  a DT 900 CD number NN   to TO call VB  . .
Callers NNS will MD be VB sent VBN  educational JJ booklets NNS , , and CC the DT call NN 's POS modest JJ cost NN will MD be VB an DT immediate JJ method NN of IN  raising VBG money NN . .
Other JJ network NN applications NNS have VBP very RB different JJ goals NNS . .
ABC NNP Sports NNPS was VBD looking VBG for IN ways NNS   to TO lift VB deflated VBN halftime NN ratings NNS for IN `` `` Monday NNP Night NNP Football NNP  . . '' ''
Kurt NNP Sanger NNP , , ABC NNP Sports NNP 's POS marketing NN director NN , , says VBZ that IN now RB `` `` tens NNS of IN thousands NNS '' '' of IN fans NNS call VBP its PRP$ 900 CD number NN each DT week NN  to TO vote VB for IN the DT best JJS punt NN return NN , , quarterback NN sack NN , , etc FW . .
Profit NN from IN the DT calls NNS goes VBZ to TO charity NN , , but CC ABC NNP Sports NNPS also RB uses VBZ the DT calls NNS as IN a DT sales NNS tool NN : : After IN  thanking VBG callers NNS for IN voting NN , , Frank NNP Gifford NNP offers VBZ a DT football NN videotape NN for IN $ $ 19.95 CD  , , and CC 5 CD % NN of IN callers NNS stay VBP on IN the DT line NN  to TO order VB it PRP . .
Jackets NNS may MD be VB sold VBN  next RB . .
Meanwhile RB , , NBC NNP Sports NNPS recently RB began VBD `` `` Scores NNPS Plus NNP , , '' '' a DT year-round JJ , , 24-hour JJ 900 CD line NN providing VBG a DT complex JJ array NN of IN scores NNS , , analysis NN and CC fan NN news NN . .
A DT spokesman NN said VBD  its PRP$ purpose NN is VBZ `` ``  to TO bolster VB the DT impression NN that IN NBC NNP Sports NNP is VBZ always RB there RB for IN people NNS . . '' ''
NBC NNP 's POS `` `` On-Line JJ '' '' consumer NN minutes NNS have VBP increased VBN advertiser NN spending NN during IN the DT day NN , , the DT network NN 's POS weakest JJS period NN . .
Each DT weekday NN matches VBZ a DT sponsor NN and CC a DT topic NN : : On IN Mondays NNPS , , Unilever NNP N.V. NNP 's POS Lever NNP Bros. NNPS sponsors VBZ tips NNS on IN diet NN and CC exercise NN , , followed VBN  by IN a DT 30-second JJ Lever NNP Bros. NNPS commercial NN . .
Viewers NNS can MD call VB a DT 900 CD number NN for IN additional JJ advice NN , , which WDT  will MD be VB tailored VBN  to TO their PRP$ needs NNS based VBN on IN the DT numbers NNS  they PRP punch VBP  -LRB- -LRB- `` ``  Press VB one CD if IN you PRP 're VBP pregnant JJ , , '' '' etc FW . . -RRB- -RRB- . .
If IN the DT caller NN stays VBZ on IN the DT line NN and CC leaves VBZ a DT name NN and CC address NN for IN the DT sponsor NN , , coupons NNS and CC a DT newsletter NN will MD be VB mailed VBN  , , and CC the DT sponsor NN will MD be VB able JJ  to TO gather VB a DT list NN of IN desirable JJ potential JJ customers NNS . .
Diane NNP Seaman NNP , , an DT NBC-TV NNP vice NN president NN , , says VBZ  NBC NNP has VBZ been VBN able JJ  to TO charge VB premium JJ rates NNS for IN this DT ad NN time NN . .
She PRP would MD n't RB say VB what WP the DT premium NN is VBZ  , , but CC it PRP 's VBZ believed VBN  to TO be VB about IN 40 CD % NN above IN regular JJ daytime JJ rates NNS . .
`` `` We PRP were VBD able JJ  to TO get VB advertisers NNS to TO use VB their PRP$ promotion NN budget NN for IN this DT , , because IN they PRP get VBP a DT chance NN   to TO do VB couponing NN  , , '' '' says VBZ  Ms. NNP Seaman NNP . .
`` `` And CC we PRP were VBD able JJ  to TO attract VB some DT new JJ advertisers NNS because IN this DT is VBZ something NN new JJ . . '' ''
Mr. NNP Parks NNP of IN Call NNP Interactive NNP says VBZ  TV NN executives NNS are VBP considering VBG the DT use NN of IN 900 CD numbers NNS for IN `` `` talk NN shows NNS , , game NN shows NNS , , news NN and CC opinion NN surveys NNS . . '' ''
Experts NNS are VBP predicting VBG a DT big JJ influx NN of IN new JJ shows NNS in IN 1990 CD , , when WRB a DT service NN called VBN  `` `` automatic JJ number NN information NN '' '' will MD become VB widely RB available JJ  . .
This DT service NN identifies VBZ each DT caller NN 's POS phone NN number NN , , and CC it PRP can MD be VB used VBN   to TO generate VB instant JJ mailing NN lists NNS . .
`` `` Hard NNP Copy NNP , , '' '' the DT new JJ syndicated JJ tabloid JJ show NN from IN Paramount NNP Pictures NNPS , , will MD use VB its PRP$ 900 CD number NN for IN additional JJ purposes NNS that WDT  include VBP research NN , , says VBZ   executive NN producer NN Mark NNP B. NNP von NNP S. NNP Monsky NNP . .
`` `` For IN a DT piece NN on IN local JJ heroes NNS of IN World NNP War NNP II NNP , , we PRP can MD ask VB people NNS  to TO leave VB the DT name NN and CC number NN of IN anyone NN  they PRP know VBP  who WP  won VBD a DT medal NN , , '' '' he PRP says VBZ  . .
`` `` That DT 'll MD save VB us PRP time NN and CC get VB people NNS involved VBN . . '' ''
But CC Mr. NNP Monsky NNP sees VBZ much RB bigger JJR changes NNS ahead RB . .
`` `` These DT are VBP just RB baby NN steps NNS toward IN real JJ interactive JJ video NN , , which WDT I PRP believe VBP   will MD be VB the DT biggest JJS thing NN yet RB   to TO affect VB television NN , , '' '' he PRP says VBZ  . .
Although IN it PRP  would MD be VB costly JJ  to TO shoot VB multiple JJ versions NNS , , TV NN programmers NNS could MD let VB audiences NNS vote VB on IN different JJ endings NNS for IN a DT movie NN . .
Fox NNP Broadcasting NNP experimented VBD with IN this DT concept NN last JJ year NN when WRB viewers NNS of IN `` `` Married JJ ... : With IN Children NNP '' '' voted VBD on IN whether IN Al NNP should MD say VB `` `` I PRP love VBP you PRP '' '' to TO Peg NNP on IN Valentine NNP 's POS Day NNP . .
Someday RB , , viewers NNS may MD also RB choose VB different JJ depths NNS of IN news NN coverage NN . .
`` `` A DT menu NN by IN phone NN could MD let VB you PRP decide VB , , ` `` I PRP 'm VBP interested JJ in IN just RB the DT beginning NN of IN story NN No. NN 1 CD , , and CC I PRP want VBP story NN No. NN 2 CD in IN depth NN , , '' '' Mr. NNP Monsky NNP says VBZ  . .
`` `` You PRP 'll MD start VB  to TO see VB shows NNS where WRB viewers NNS program VBP the DT program NN  . .
Integrated NNP Resources NNPS Inc. NNP , , the DT troubled JJ financial-services NNS company NN that WDT  has VBZ been VBN trying VBG  to TO sell VB its PRP$ core NN companies NNS  to TO restructure VB debt NN , , said VBD  talks NNS with IN a DT potential JJ buyer NN ended VBN . .
Integrated NNP did VBD n't RB identify VB the DT party NN or CC say VB why WRB the DT talks NNS failed VBD  . .
Last JJ week NN another DT potential JJ buyer NN , , Whitehall NNP Financial NNP Group NNP -- : which WDT  had VBD agreed VBN in IN August NNP  to TO purchase VB most JJS of IN Integrated NNP 's POS core NN companies NNS for IN $ $ 310 CD million CD  -- : ended VBN talks NNS with IN Integrated NNP . .
Integrated NNP said VBD that IN it PRP would MD continue VB  to TO pursue VB `` `` other JJ alternatives NNS '' ''  to TO sell VB the DT five CD core NN companies NNS and CC that IN a DT group NN of IN senior JJ executives NNS plans NNS  to TO make VB a DT proposal NN  to TO purchase VB three CD of IN the DT companies NNS -- : Integrated NNP Resources NNPS Equity NNP Corp. NNP , , Resources NNPS Trust NNP Co. NNP and CC Integrated NNP Resources NNPS Asset NNP Management NNP Corp NNP . .
A DT price NN was VBD n't RB disclosed VBN  . .
Integrated NNP also RB said VBD  it PRP expects VBZ  to TO report VB a DT second-quarter JJ loss NN wider JJR than IN the DT earlier JJR estimate NN of IN about IN $ $ 600 CD million CD  . .
The DT company NN did VBD n't RB disclose VB the DT new JJ estimate NN but CC said VBD  the DT change NN was VBD related VBN  to TO Integrated NNP 's POS failure NN  to TO sell VB its PRP$ core NN businesses NNS , , as RB well RB as IN `` `` other JJ events NNS , , '' '' which WDT it PRP did VBD n't RB detail NN  , , that WDT  occurred VBD after IN its PRP$ announcement NN  last JJ week NN that IN it PRP was VBD in IN talks NNS with IN the DT unidentified JJ prospective JJ buyer NN . .
Meanwhile RB , , a DT number NN of IN top JJ sales NNS producers NNS from IN Integrated NNP Resources NNPS Equity NNP will MD meet VB this DT afternoon NN in IN Chicago NNP  to TO discuss VB their PRP$ options NNS . .
The DT unit NN is VBZ a DT loosely RB constructed VBN group NN of IN about IN 3,900 CD independent JJ brokers NNS and CC financial JJ planners NNS who WP  sell VBP insurance NN , , annuities NNS , , limited JJ partnerships NNS , , mutual JJ funds NNS and CC other JJ investments NNS for IN Integrated NNP and CC other JJ firms NNS . .
The DT sales NNS force NN is VBZ viewed VBN  as IN a DT critical JJ asset NN in IN Integrated NNP 's POS attempt NN  to TO sell VB its PRP$ core NN companies NNS . .
Whitehall NNP cited VBD concerns NNS about IN how WRB long RB Integrated NNP would MD be VB able JJ  to TO hold VB together RP the DT sales NNS force NN  as IN one CD reason NN  its PRP$ talks NNS with IN Integrated NNP failed VBD  . .
In IN composite JJ trading NN on IN the DT New NNP York NNP Stock NNP Exchange NNP yesterday NN , , Integrated NNP closed VBD at IN $ $ 1.25 CD  a DT share NN , , down RB 25 CD cents NNS . .
Integrated NNP has VBZ been VBN struggling VBG  to TO avoid VB a DT bankruptcy-law NN filing NN since IN June NNP , , when WRB it PRP failed VBD  to TO make VB interest NN payments NNS on IN nearly RB $ $ 1 CD billion CD  of IN debt NN  . .
Integrated NNP senior JJ and CC junior JJ creditors NNS are VBP owed VBN  a DT total NN of IN about IN $ $ 1.8 CD billion CD  . .
AN DT EARTHQUAKE NN STRUCK VBD Northern JJ California NNP , ,  killing VBG more JJR than IN 50 CD people NNS . .
The DT violent JJ temblor NN , , which WDT  lasted VBD about IN 15 CD seconds NNS and CC registered VBD 6.9 CD on IN the DT Richter NNP scale NN , , also RB caused VBD the DT collapse NN of IN a DT 30-foot JJ section NN of IN the DT San NNP Francisco-Oakland NNP Bay NNP Bridge NNP and CC shook VBD Candlestick NNP Park NNP . .
The DT tremor NN was VBD centered VBN near IN Hollister NNP , , southeast NN of IN San NNP Francisco NNP , , and CC was VBD felt VBN  as RB far RB as IN 200 CD miles NNS away RB . .
Numerous JJ injuries NNS were VBD reported VBN  . .
Some DT buildings NNS collapsed VBD , , gas NN and CC water NN lines NNS ruptured VBD and CC fires NNS raged VBD . .
The DT quake NN , , which WDT also RB  caused VBD damage NN in IN San NNP Jose NNP and CC Berkeley NNP , , knocked VBD out RP electricity NN and CC telephones NNS , , cracked VBD roadways NNS and CC disrupted VBD subway NN service NN in IN the DT Bay NNP Area NN . .
Major JJ injuries NNS were VBD n't RB reported VBN  at IN Candlestick NNP Park NNP , , where WRB the DT third JJ game NN of IN baseball NN 's POS World NNP Series NNP was VBD canceled VBN  and CC fans NNS evacuated VBN  from IN the DT stadium NN  . .
Bush NNP vowed VBD  to TO veto VB a DT bill NN allowing VBG federal JJ financing NN for IN abortions NNS in IN cases NNS of IN rape NN and CC incest NN , ,  saying VBG  tax NN dollars NNS should MD n't RB be VB used VBN   to TO `` `` compound VB a DT violent JJ act NN with IN the DT taking NN of IN an DT unborn JJ life NN . . '' ''
His PRP$ pledge NN , , in IN a DT letter NN to TO Democratic JJ Sen. NNP Byrd NNP , , came VBD ahead RB of IN an DT expected JJ Senate NNP vote NN on IN spending NN legislation NN containing VBG the DT provision NN . .
East NNP Germany NNP 's POS Politburo NNP met VBD amid IN speculation NN that IN the DT ruling NN body NN would MD oust VB hard-line JJ leader NN Honecker NNP , , whose WP$ rule NN  has VBZ been VBN challenged VBN  by IN mass JJ emigration NN and CC calls NNS for IN democratic JJ freedoms NNS . .
Meanwhile RB , , about IN 125 CD refugees NNS flew VBD to TO Duesseldorf NNP , , West NNP Germany NNP , , from IN Warsaw NNP , , the DT first JJ airlift NN in IN East NNP Germany NNP 's POS refugee NN exodus NN . .
The DT World NNP Psychiatric NNP Association NNP voted VBD at IN an DT Athens NNP parley NN  to TO conditionally RB readmit VB the DT Soviet NNP Union NNP . .
Moscow NNP , , which WDT  left VBD the DT group NN in IN 1983 CD  to TO avoid VB explusion NN over IN allegations NNS that IN political JJ dissidents NNS were VBD being VBG certified VBN  as IN insane JJ , , could MD be VB suspended VBN  if IN the DT misuse NN of IN psychiatry NN against IN dissenters NNS is VBZ discovered VBN  during IN a DT review NN within IN a DT year NN . .
NASA NNP postponed VBD the DT liftoff NN of IN the DT space NN shuttle NN Atlantis NNP because RB of IN rain NN near IN the DT site NN of IN the DT launch NN pad NN in IN Cape NNP Canaveral NNP , , Fla NNP . .
The DT flight NN was VBD rescheduled VBN  for IN today NN . .
The DT spacecraft NN 's POS five CD astronauts NNS are VBP  to TO dispatch VB the DT nuclear-powered JJ Galileo NNP space NN probe NN on IN an DT exploratory JJ mission NN to TO Jupiter NNP . .
Senate NNP Democratic JJ leaders NNS said VBD  they PRP had VBD enough RB votes NNS   to TO defeat VB a DT proposed VBN constitutional JJ amendment NN   to TO ban VB flag NN burning NN  . .
The DT amendment NN is VBZ aimed VBN  at IN  skirting VBG a DT Supreme NNP Court NNP ruling NN that WDT  threw VBD out RP the DT conviction NN of IN a DT Texas NNP flag-burner NN on IN grounds NNS that IN his PRP$ freedom NN of IN speech NN was VBD violated VBN  . .
Federal JJ researchers NNS said VBD  lung-cancer NN mortality NN rates NNS for IN people NNS under IN 45 CD years NNS of IN age NN have VBP begun VBN  to TO decline VB , , particularly RB for IN white JJ males NNS . .
The DT National NNP Cancer NNP Institute NNP also RB projected VBD that DT overall JJ U.S. NNP mortality NN rates NNS from IN lung NN cancer NN should MD begin VB  to TO drop VB in IN several JJ years NNS if IN cigarette NN smoking NN continues VBZ  to TO abate VB . .
Bush NNP met VBD with IN South JJ Korean JJ President NNP Roh NNP , , who WP  indicated VBD that IN Seoul NNP plans VBZ  to TO further RBR ease VB trade NN rules NNS  to TO ensure VB that DT its PRP$ economy NN becomes VBZ as RB open JJ as IN the DT other JJ industrialized JJ nations NNS by IN the DT mid-1990s NNS . .
Bush NNP assured VBD Roh NNP that IN the DT U.S. NNP would MD stand VB by IN its PRP$ security NN commitments NNS `` `` as RB long RB as IN there EX is VBZ a DT threat NN '' '' from IN Communist NNP North NNP Korea NNP . .
The DT Bush NNP administration NN is VBZ seeking VBG an DT understanding NN with IN Congress NNP   to TO ease VB restrictions NNS on IN U.S. NNP involvement NN in IN foreign JJ coups NNS that WDT  might MD result VB in IN the DT death NN of IN a DT country NN 's POS leader NN . .
A DT White NNP House NNP spokesman NN said VBD that IN while IN Bush NNP would MD n't RB alter VB a DT longstanding JJ ban NN on IN such JJ involvement NN , , `` `` there EX 's VBZ a DT clarification NN needed VBN  '' '' on IN its PRP$ interpretation NN . .
India NNP 's POS Gandhi NNP called VBD for IN parliamentary JJ elections NNS next IN month NN . .
The DT balloting NN , , considered VBN  a DT test NN for IN the DT prime JJ minister NN and CC the DT ruling JJ Congress NNP -LRB- -LRB- I NNP -RRB- -RRB- Party NNP , , comes VBZ amid IN charges NNS of IN inept JJ leadership NN and CC government NN corruption NN . .
Gandhi NNP 's POS family NN has VBZ ruled VBN independent JJ India NNP for IN all DT but CC five CD years NNS of IN its PRP$ 42-year JJ history NN . .
The DT Soviet NNP Union NNP abstained VBD from IN a DT U.N. NNP General NNP Assembly NNP vote NN   to TO reject VB Israel NNP 's POS credentials NNS . .
It PRP was VBD the DT first JJ time NN in IN seven CD years NNS that IN Moscow NNP has VBZ n't RB joined VBN efforts NNS , , led VBN  by IN Moslem NNP nations NNS , ,   to TO expel VB Israel NNP from IN the DT world NN body NN , , and CC was VBD viewed VBN  as IN a DT sign NN of IN improving VBG Soviet-Israeli JJ ties NNS . .
Israel NNP was VBD seated VBN  by IN a DT vote NN of IN 95-37 CD , , with IN 15 CD abstentions NNS . .
Black JJ activist NN Walter NNP Sisulu NNP said VBD  the DT African NNP National NNP Congress NNP would MD n't RB reject VB violence NN as IN a DT way NN   to TO pressure NN the DT South JJ African JJ government NN into IN concessions NNS that WDT  might MD lead VB to TO negotiations NNS over IN apartheid NN  . .
The DT 77-year-old JJ Sisulu NNP was VBD among IN eight CD black JJ political JJ activists NNS freed VBN  Sunday NNP from IN prison NN . .
London NNP has VBZ concluded VBN that IN Austrian JJ President NNP Waldheim NNP was VBD n't RB responsible JJ for IN the DT execution NN of IN six CD British JJ commandos NNS in IN World NNP War NNP II NNP , , although IN he PRP probably RB was VBD aware JJ of IN the DT slayings NNS . .
The DT report NN by IN the DT Defense NNP Ministry NNP also RB rejected VBD allegations NNS that IN Britain NNP covered VBD up RP evidence NN of IN Waldheim NNP 's POS activities NNS as IN a DT German JJ army NN officer NN . .
An DT international JJ group NN approved VBD a DT formal JJ ban NN on IN ivory JJ trade NN despite IN objections NNS from IN southern JJ African JJ governments NNS , , which WDT  threatened VBD  to TO find VB alternative JJ channels NNS for IN  selling VBG elephant NN tusks NNS . .
The DT move NN by IN the DT Convention NN on IN Trade NNP in IN Endangered NNP Species NNPS , , meeting VBG in IN Switzerland NNP , , places VBZ the DT elephant NN on IN the DT endangered-species NNS list NN . .
An DT assassin NN in IN Colombia NNP killed VBD a DT federal JJ judge NN on IN a DT Medellin NNP street NN . .
An DT anonymous JJ caller NN to TO a DT local JJ radio NN station NN said VBD  cocaine NN traffickers NNS had VBD slain VBN the DT magistrate NN in IN retaliation NN for IN the DT extraditions NNS of IN Colombians NNPS wanted VBN  on IN drug NN charges NNS in IN the DT U.S. NNP . .
Libyan JJ leader NN Gadhafi NNP met VBN with IN Egypt NNP 's POS President NNP Mubarak NNP , , and CC the DT two CD officials NNS pledged VBD  to TO respect VB each DT other JJ 's POS laws NNS , , security NN and CC stability NN . .
They PRP stopped VBD short RB of IN  resuming VBG diplomatic JJ ties NNS , , severed VBN  in IN 1979 CD . .
The DT reconciliation NN talks NNS in IN the DT Libyan JJ desert NN town NN of IN Tobruk NNP followed VBD a DT meeting NN Monday NNP in IN the DT Egyptian JJ resort NN of IN Mersa NNP Metruh NNP . .
Alpine NNP Group NNP Inc. NNP revised VBD its PRP$ exchange NN offer NN for IN $ $ 43.7 CD million CD  face NN amount NN of IN 13.5 CD % NN senior JJ subordinated JJ debt NN due JJ 1996 CD and CC extended VBD the DT offer NN to TO Oct. NNP 27 CD from IN Oct. NNP 12 CD . .
The DT Hackensack NNP , , N.J. NNP , , company NN said VBD  holders NNS would MD receive VB for IN each DT $ $ 1,000 CD  face NN amount NN , , $ $ 750 CD  face NN amount NN of IN a DT new JJ issue NN of IN secured JJ senior JJ subordinated JJ notes NNS , , convertible JJ into IN common JJ stock NN at IN an DT initial JJ rate NN of IN $ $ 6.50 CD  a DT share NN , , and CC 50 CD common JJ shares NNS . .
The DT new JJ notes NNS will MD bear VB interest NN at IN 5.5 CD % NN through IN July NNP 31 CD , , 1991 CD , , and CC thereafter RB at IN 10 CD % NN . .
Under IN the DT original JJ proposal NN , , the DT maker NN of IN specialty NN coatings NNS and CC a DT developer NN of IN information-display NN technologies NNS offered VBD $ $ 400 CD  of IN notes NNS due JJ 1996 CD , , 10 CD common JJ shares NNS and CC $ $ 175 CD  in IN cash NN for IN each DT $ $ 1,000 CD  face NN amount NN . .
Completion NN of IN the DT exchange NN offer NN is VBZ subject JJ to TO the DT tender NN of IN at IN least JJS 80 CD % NN of IN the DT debt NN , , among IN other JJ things NNS . .
Alpine NNP , , which WDT  said VBD  it PRP does VBZ n't RB plan VB  to TO further RBR extend VB the DT offer NN , , said VBD  it PRP received VBD $ $ 615,000 CD  face JJ amount NN of IN debt NN under IN the DT original JJ offer NN . .
The DT stock NN of IN UAL NNP Corp. NNP continued VBD  to TO be VB pounded VBN  amid IN signs NNS that IN British NNP Airways NNPS may MD balk VB at IN any DT hasty JJ reformulation NN of IN the DT aborted JJ $ $ 6.79 CD billion CD  buy-out NN of IN United NNP Airlines NNPS ' POS parent NN . .
UAL NNP stock NN plummeted VBD a DT further JJ $ $ 24.875 CD  to TO $ $ 198 CD  on IN volume NN of IN more JJR than IN 2.8 CD million CD shares NNS in IN New NNP York NNP Stock NNP Exchange NNP composite JJ trading NN . .
The DT plunge NN followed VBD a DT drop NN of IN $ $ 56.875 CD  Monday NNP , , amid IN indications NNS  the DT takeover NN may MD take VB weeks NNS  to TO be VB revived VBN  . .
The DT stock NN has VBZ fallen VBN $ $ 87.25 CD  , , or CC 31 CD % NN , , in IN the DT three CD trading NN days NNS since IN announcement NN of IN the DT collapse NN of IN the DT $ $ 300-a-share JJ  takeover NN jolted VBD the DT entire JJ stock NN market NN into IN its PRP$ second-worst JJ plunge NN ever RB . .
`` `` This DT is VBZ a DT total JJ bloodbath NN '' '' for IN takeover-stock NN traders NNS , , one CD investment NN banker NN said VBD   . .
Los NNP Angeles NNP financier NN Marvin NNP Davis NNP , , who WP  put VBD United NNP in IN play NN with IN a DT $ $ 5.4 CD billion CD  bid NN two CD months NNS ago RB , , last JJ night NN proffered VBD both DT a DT ray NN of IN hope NN and CC an DT extra JJ element NN of IN uncertainty NN by IN  saying VBG  he PRP remains VBZ interested JJ in IN  acquiring VBG UAL NNP . .
But CC he PRP dropped VBD his PRP$ earlier JJ $ $ 300-a-share JJ  back-up NN bid NN , ,  saying VBG  he PRP must MD first RB explore VB bank NN financing NN . .
Even RB as IN Citicorp NNP and CC Chase NNP Manhattan NNP Corp. NNP scrambled VBD  to TO line VB up RP bank NN financing NN for IN a DT revised JJ version NN of IN the DT lapsed JJ labor-management NN bid NN , , British NNP Airways NNPS , , a DT 15 CD % NN partner NN in IN the DT buying NN group NN , , indicated VBD  it PRP wants VBZ  to TO start VB from IN scratch NN . .
Its PRP$ partners NNS are VBP United NNP 's POS pilots NNS , , who WP  were VBD  to TO own VB 75 CD % NN , , and CC UAL NNP management NN at IN 10 CD % NN . .
 Adding VBG insult NN to TO injury NN , , United NNP 's POS 25,000-member JJ Machinists NNS ' POS union NN , , which WDT  helped VBD  scuttle VB financing NN for IN the DT first JJ bid NN , , yesterday NN asked VBD UAL NNP Chairman NNP Stephen NNP Wolf NNP and CC other JJ UAL NNP directors NNS  to TO resign VB . .
A DT similar JJ demand NN was VBD made VBN  by IN a DT group NN that WDT  represents VBZ some DT of IN United NNP 's POS 26,000 CD noncontract JJ employees NNS . .
John NNP Peterpaul NNP , , Machinists NNS union NN general JJ vice NN president NN , , attacked VBD Mr. NNP Wolf NNP as IN `` `` greedy JJ and CC irresponsible JJ '' '' for IN  pursuing VBG the DT buy-out NN . .
Although IN Mr. NNP Wolf NNP and CC John NNP Pope NNP , , UAL NNP 's POS chief JJ financial JJ officer NN , , stood VBD  to TO pocket VB $ $ 114.3 CD million CD  for IN stock NN and CC options NNS in IN the DT buy-out NN , , UAL NNP executives NNS planned VBD  to TO reinvest VB only RB $ $ 15 CD million CD  in IN the DT new JJ company NN . .
The DT blue-collar JJ machinists NNS , , longtime NN rivals NNS of IN the DT white-collar JJ pilots NNS , , say VBP  the DT buyout NN would MD load VB the DT company NN with IN debt NN and CC weaken VB its PRP$ finances NNS . .
Confusion NN about IN the DT two CD banks NNS ' POS hurried JJ efforts NNS   to TO round VB up RP financing NN for IN a DT new JJ bid NN that IN the DT UAL NNP board NN has VBZ n't RB even RB seen VBN  yet CC helped VBD  send VB UAL NNP stock NN spiraling VBG downward RB . .
And CC rumors NNS of IN forced JJ selling NN by IN takeover-stock NN traders NNS triggered VBD a DT 25-point JJ downdraft NN in IN the DT Dow NNP Jones NNP Industrial NNP Average NNP around IN 11:15 CD a.m. RB EDT NNP yesterday NN . .
Yesterday NN 's POS selling NN began VBD after IN a DT Japanese JJ news NN agency NN reported VBD that IN Japanese JJ banks NNS , , which WDT  balked VBD at IN the DT first JJ bid NN , , were VBD ready JJ  to TO reject VB a DT revised VBN version NN at IN around IN $ $ 250 CD  a DT share NN , , or CC $ $ 5.65 CD billion CD  . .
Several JJ reports NNS as IN the DT day NN progressed VBD gave VBD vague JJ or CC conflicting JJ indications NNS about IN whether IN banks NNS would MD sign VB up RB . .
Citicorp NNP , , for IN example NN , , said VBD only RB that IN it PRP had VBD `` `` expressions NNS of IN interest NN of IN a DT transaction NN from IN both DT the DT borrowers NNS and CC the DT banks NNS , , '' '' but CC did VBD n't RB have VB an DT agreement NN . .
Late RB in IN the DT day NN , , Mr. NNP Wolf NNP issued VBD a DT onepage JJ statement NN calling VBG Mr. NNP Peterpaul NNP 's POS blast NN `` `` divisive JJ and CC uncalled JJ for IN . . '' ''
But CC he PRP gave VBD few JJ details NNS on IN the DT progress NN toward IN a DT new JJ bid NN , ,  saying VBG only RB , , `` `` We PRP are VBP working VBG toward IN a DT revised VBN proposal NN for IN majority NN employee NN ownership NN . . '' ''
Meanwhile RB , , in IN another DT sign NN that IN a DT new JJ bid NN is VBZ n't RB imminent JJ , , it PRP was VBD learned VBN  that IN the DT UAL NNP board NN held VBD a DT telephone NN meeting NN Monday NNP  to TO hear VB an DT update NN on IN the DT situation NN , , but CC that IN a DT formal JJ board NN meeting NN is VBZ n't RB likely JJ  to TO be VB convened VBN  until IN early JJ next JJ week NN . .
In IN London NNP , , British NNP Airways NNPS Chairman NN Lord NNP King NNP was VBD quoted VBN  in IN the DT Times NNP as IN  declaring VBG  he PRP is VBZ `` `` not RB prepared JJ  to TO take VB my PRP$ shareholders NNS into IN a DT hasty JJ deal NN . . '' ''
Observers NNS said VBD  it PRP appeared VBD that IN British NNP Air NNP was VBD angered VBN  at IN the DT way NN  the DT bid NN has VBZ degenerated VBN into IN confusion NN  , , as RB well RB as IN by IN the DT banks NNS ' POS effort NN   to TO round VB up RP financing NN for IN what WP one PRP called VBD  `` `` a DT deal NN that WDT  is VBZ n't RB a DT deal NN . . '' ''
The DT effort NN   to TO revive VB the DT bid NN was VBD complicated VBN  by IN the DT unwieldy JJ nature NN of IN the DT three-party JJ buying NN group NN . .
The DT pilots NNS were VBD meeting VBG outside IN Chicago NNP yesterday NN . .
But CC British NNP Air NNP , , which WDT  was VBD  to TO have VB supplied VBN $ $ 750 CD million CD out IN of IN $ $ 965 CD million CD  in IN equity NN financing NN , , apparently RB was VBD n't RB involved JJ in IN the DT second JJ proposal NN and CC could MD well RB reject VB it PRP even RB if IN banks NNS obtain VBP financing NN . .
A DT group NN of IN United NNP 's POS noncontract JJ employees NNS said VBD in IN a DT statement NN , , `` `` The DT fact NN that DT Wolf NNP and CC other JJ officers NNS were VBD going VBG  to TO line VB their PRP$ pockets NNS with IN literally RB millions NNS of IN dollars NNS while IN  instituting VBG severe JJ pay NN cuts NNS on IN the DT nonunion JJ employees NNS of IN United NNP is VBZ not RB only RB deplorable JJ but CC inexcusable JJ . . '' ''
The DT machinists NNS also RB asked VBD for IN an DT investigation NN by IN the DT Securities NNPS and CC Exchange NNP Commission NNP into IN possible JJ securities-law NN violations NNS in IN the DT original JJ bid NN for IN UAL NNP by IN Mr. NNP Davis NNP , , as RB well RB as IN in IN the DT response NN by IN UAL NNP . .
Last JJ week NN , , just RB before IN the DT bank NN commitments NNS were VBD due JJ , , the DT union NN asked VBD the DT U.S. NNP Labor NNP Department NNP to TO study VB whether IN the DT bid NN violated VBD legal JJ standards NNS of IN fairness NN governing VBG employee NN investment NN funds NNS . .
In IN his PRP$ statement NN , , Mr. NNP Wolf NNP said VBD , , `` `` We PRP continue VBP  to TO believe VB  our PRP$ approach NN is VBZ sound JJ , , and CC that IN it PRP is VBZ far RB better JJR for IN all DT employees NNS than IN the DT alternative NN of IN  having VBG an DT outsider NN own VB the DT company NN with IN employees NNS paying VBG for IN it PRP just RB the DT same JJ . . '' ''
Mr. NNP Wolf NNP has VBZ eschewed VBN merger NN advice NN from IN a DT major JJ Wall NNP Street NNP securities NNS firm NN , ,  relying VBG instead RB only RB on IN a DT takeover NN lawyer NN , , Peter NNP Atkins NNP of IN Skadden NNP Arps NNP Slate NNP Meagher NNP & CC Flom NNP . .
The DT huge JJ drop NN in IN UAL NNP stock NN prompted VBD one CD takeover NN stock NN trader NN , , George NNP Kellner NNP , , managing NN partner NN of IN Kellner NNP , , DiLeo NNP & CC Co. NNP , , to TO deny VB publicly RB rumors NNS that IN his PRP$ firm NN was VBD going VBG out IN of IN business NN . .
Mr. NNP Kellner NNP said VBD that IN despite IN losses NNS on IN UAL NNP stock NN , , his PRP$ firm NN 's POS health NN is VBZ `` `` excellent JJ . . '' ''
The DT stock NN 's POS decline NN also RB has VBZ left VBN the DT UAL NNP board NN in IN a DT quandary NN . .
Although IN it PRP may MD not RB be VB legally RB obligated VBN  to TO sell VB the DT company NN if IN the DT buy-out NN group NN ca MD n't RB revive VB its PRP$ bid NN , , it PRP may MD have VB  to TO explore VB alternatives NNS if IN the DT buyers NNS come VBP back RP with IN a DT bid NN much RB lower JJR than IN the DT group NN 's POS original JJ $ $ 300-a-share JJ  proposal NN . .
At IN a DT meeting NN  Sept. NNP 1 CD  to TO consider VB the DT labor-management NN bid NN , , the DT board NN also RB was VBD informed VBN  by IN its PRP$ investment NN adviser NN , , First NNP Boston NNP Corp. NNP , , of IN interest NN expressed VBN  by IN buy-out NN funds NNS including VBG Kohlberg NNP Kravis NNP Roberts NNP & CC Co. NNP and CC Forstmann NNP Little NNP & CC Co. NNP , , as RB well RB as IN by IN Robert NNP Bass NNP , , Morgan NNP Stanley NNP 's POS buy-out NN fund NN , , and CC Pan NNP Am NNP Corp NNP . .
The DT takeover-stock NN traders NNS were VBD hoping VBG that IN Mr. NNP Davis NNP or CC one CD of IN the DT other JJ interested JJ parties NNS might MD re-emerge VB with IN the DT situation NN in IN disarray NN , , or CC that IN the DT board NN might MD consider VB a DT recapitalization NN . .
Meanwhile RB , , Japanese JJ bankers NNS said VBD  they PRP were VBD still RB hesitant JJ about IN  accepting VBG Citicorp NNP 's POS latest JJS proposal NN . .
Macmillan NNP Inc. NNP said VBD  it PRP plans VBZ a DT public JJ offering NN of IN 8.4 CD million CD shares NNS of IN its PRP$ Berlitz NNP International NNP Inc. NNP unit NN at IN $ $ 19 CD to TO $ $ 21 CD  a DT share NN . .
The DT offering NN for IN the DT language NN school NN unit NN was VBD announced VBN  by IN Robert NNP Maxwell NNP , , chairman NN and CC chief JJ executive NN officer NN of IN London-based JJ Maxwell NNP Communication NNP Corp. NNP , , which WDT  owns VBZ Macmillan NNP . .
After IN the DT offering NN is VBZ completed VBN  , , Macmillan NNP will MD own VB about IN 56 CD % NN of IN the DT Berlitz NNP common JJ stock NN outstanding JJ . .
Five CD million CD shares NNS will MD be VB offered VBN  in IN the DT U.S. NNP , , and CC 3.4 CD million CD additional JJ shares NNS will MD be VB offered VBN  in IN concurrent JJ international JJ offerings NNS outside IN the DT U.S. NNP . .
Goldman NNP , , Sachs NNP & CC Co. NNP will MD manage VB the DT offering NN . .
Macmillan NNP said VBD  Berlitz NNP intends VBZ  to TO pay VB quarterly JJ dividends NNS on IN the DT stock NN . .
The DT company NN said VBD  it PRP expects VBZ  to TO pay VB the DT first JJ dividend NN , , of IN 12.5 CD cents NNS a DT share NN , , in IN the DT 1990 CD first JJ quarter NN . .
Berlitz NNP will MD borrow VB an DT amount NN equal JJ to TO its PRP$ expected JJ net JJ proceeds NNS from IN the DT offerings NNS , , plus CC $ $ 50 CD million CD  , , in IN connection NN with IN a DT credit NN agreement NN with IN lenders NNS . .
The DT total JJ borrowing NN will MD be VB about IN $ $ 208 CD million CD  , , the DT company NN said VBD   . .
Proceeds NNS from IN the DT borrowings NNS under IN the DT credit NN agreement NN will MD be VB used VBN   to TO pay VB an DT $ $ 80 CD million CD  cash NN dividend NN to TO Macmillan NNP and CC to TO lend VB the DT remainder NN of IN about IN $ $ 128 CD million CD  to TO Maxwell NNP Communications NNPS in IN connection NN with IN a DT promissory JJ note NN . .
Proceeds NNS from IN the DT offering NN will MD be VB used VBN   to TO repay VB borrowings NNS under IN the DT short-term JJ parts NNS of IN a DT credit NN agreement NN . .
Berlitz NNP , , which WDT  is VBZ based VBN  in IN Princeton NNP , , N.J. NNP , , provides VBZ language NN instruction NN and CC translation NN services NNS through IN more JJR than IN 260 CD language NN centers NNS in IN 25 CD countries NNS . .
In IN the DT past JJ five CD years NNS , , more JJR than IN 68 CD % NN of IN its PRP$ sales NNS have VBP been VBN outside IN the DT U.S. NNP . .
Macmillan NNP has VBZ owned VBN Berlitz NNP since IN 1966 CD . .
In IN the DT first JJ six CD months NNS of IN this DT year NN , , Berlitz NNP posted VBD net JJ income NN of IN $ $ 7.6 CD million CD  on IN sales NNS of IN $ $ 106.2 CD million CD  , , compared VBN with IN net JJ income NN of IN $ $ 8.2 CD million CD  on IN sales NNS of IN $ $ 90.6 CD million CD  . .
Right RB away RB you PRP notice VBP the DT following VBG things NNS about IN a DT Philip NNP Glass NNP concert NN . .
It PRP attracts VBZ people NNS with IN funny JJ hair NN -LRB- -LRB- or CC with IN no DT hair NN -- : in IN front NN of IN me PRP a DT girl NN with IN spiked JJ locks NNS sat VBD beside IN a DT boy NN who WP  had VBD shaved VBN his PRP$ -RRB- -RRB- . .
Whoever WP  constitute VB the DT local JJ Left NNP Bank NNP come VB out RP in IN force NN , ,  dressed VBN in IN black JJ , , along IN with IN a DT smattering NN of IN yuppies NNS who WP  want VBP  to TO be VB on IN the DT cutting JJ edge NN . .
People NNS in IN Glass NNP houses NNS tend VBP  to TO look VB stoned VBN . .
And CC , , if IN still RB conscious JJ at IN the DT evening NN 's POS end NN , , you PRP notice VBP something NN else RB : : The DT audience NN , , at IN first JJ entranced VBN and CC hypnotized VBN by IN the DT music NN , , releases VBZ its PRP$ pent-up JJ feelings NNS in IN collective JJ gratitude NN . .
Currently RB in IN the DT middle NN of IN a DT four-week JJ , , 20-city JJ tour NN as IN a DT solo NN pianist NN , , Mr. NNP Glass NNP has VBZ left VBN behind IN his PRP$ synthesizers NNS , , equipment NN and CC collaborators NNS in IN favor NN of IN  going VBG it PRP alone RB . .
He PRP sits VBZ down RP at IN the DT piano NN and CC plays NNS . .
And CC  plays NNS . .
Either CC one NN likes VBZ it PRP or CC one NN does VBZ n't RB  . .
The DT typical JJ Glass NNP audience NN , , which WDT  is VBZ more RBR likely JJ  to TO be VB composed VBN  of IN music NN students NNS than IN their PRP$ teachers NNS , , certainly RB does VBZ  . .
The DT work NN , , though RB , , sounds VBZ like IN Muzak NNP for IN spaceships NNS . .
Philip NNP Glass NNP is VBZ the DT emperor NN  , , and CC his PRP$ music NN the DT new JJ clothes NNS  , , of IN the DT avant-garde NN . .
His PRP$ success NN is VBZ easy JJ   to TO understand VB  . .
 Softly RB introducing VBG and CC explaining VBG his PRP$ pieces NNS , , Mr. NNP Glass NNP looks VBZ and CC sounds VBZ more JJR like IN a DT shaggy JJ poet NN describing VBG his PRP$ work NN than IN a DT classical JJ pianist NN playing VBG a DT recital NN . .
The DT piano NN compositions NNS , , which WDT  have VBP been VBN labeled VBN  variously RB as IN minimalist JJ , , Oriental JJ , , repetitive JJ , , cyclical JJ , , monophonic JJ and CC hypnotic JJ , , are VBP relentlessly RB tonal JJ -LRB- -LRB- therefore RB unthreatening JJ -RRB- -RRB- , , unvaryingly RB rhythmic JJ -LRB- -LRB- therefore RB soporific JJ -RRB- -RRB- , , and CC unflaggingly RB harmonious JJ but CC unmelodic JJ -LRB- -LRB- therefore RB both DT pretty JJ and CC unconventional JJ -RRB- -RRB- . .
It PRP is VBZ music NN for IN people NNS who WP  want VBP  to TO hear VB something NN different JJ but CC do VBP n't RB want VB  to TO work VB especially RB hard RB at IN the DT task NN . .
It PRP is VBZ E-Z JJ listening NN for IN the DT now JJ generation NN . .
Mr. NNP Glass NNP has VBZ inverted VBN the DT famous JJ modernist NN dictum NN `` `` less JJR is VBZ more JJR . . '' ''
His PRP$ more JJR is VBZ always RB less JJR . .
Far RB from IN  being VBG minimalist NN , , the DT music NN unabatingly RB torments VBZ us PRP with IN apparent JJ novelties NNS not RB so RB cleverly RB disguised VBN  in IN the DT simplicities NNS of IN 4\/4 CD time NN , , octave JJ intervals NNS , , and CC ragtime NN or CC gospel NN chord NN progressions NNS . .
But CC the DT music NN has VBZ its PRP$ charm NN , , and CC Mr. NNP Glass NNP has VBZ constructed VBN his PRP$ solo NN program NN around IN a DT move NN from IN the DT simple NN to TO the DT relatively RB complex JJ . .
`` `` Opening NN '' '' -LRB- -LRB- 1981 CD -RRB- -RRB- , , from IN Glassworks NNP , , introduces VBZ the DT audience NN to TO the DT Glass NNP technique NN : :  Never RB straying VBG too RB far RB from IN the DT piano NN 's POS center NN , , Mr. NNP Glass NNP works VBZ in IN the DT two CD octaves NNS on IN either DT side NN of IN middle JJ C NNP , , and CC his PRP$ fingers NNS seldom RB leave VBP the DT keys NNS . .
There EX is VBZ a DT recognizable JJ musical JJ style NN here RB , , but CC not RB a DT particular JJ performance NN style NN . .
The DT music NN is VBZ not RB especially RB pianistic JJ ; : indeed RB , , it PRP  's VBZ hard JJ  to TO imagine VB a DT bad JJ performance NN of IN it PRP . .
Nothing NN bravura NN , , no DT arpeggios NNS , , no DT ticklish JJ fingering NN problems NNS challenge VBP the DT performer NN . .
We PRP hear VBP , , we PRP may MD think VB , , inner JJ voices NNS , , but CC they PRP all DT seem VBP  to TO be VB saying VBG the DT same JJ thing NN . .
With IN `` `` Planet NN News NN , , '' '' music NN meant VBN  to TO accompany VB readings NNS of IN Allen NNP Ginsberg NNP 's POS `` `` Wichita NNP Vortex NN Sutra NN , , '' '' Mr. NNP Glass NNP gets VBZ going VBG . .
His PRP$ hands NNS sit VBP farther RBR apart RB on IN the DT keyboard NN . .
Seventh JJ chords NNS make VBP you PRP feel VB as IN though IN he PRP may MD break VB into IN a DT -LRB- -LRB- very RB slow JJ -RRB- -RRB- improvisatory JJ riff NN . .
The DT chords NNS modulate VBP , , but CC there EX is VBZ little RB filigree JJ even RB though IN his PRP$ fingers NNS begin VBP  to TO wander VB over IN more JJR of IN the DT keys NNS . .
Contrasts NNS predictably RB accumulate VBP : : First RB the DT music NN is VBZ loud JJ , , then RB it PRP becomes VBZ soft JJ , , then RB -LRB- -LRB- you PRP realize VBP -RRB- -RRB- it PRP becomes VBZ louder JJR again RB . .
`` `` The DT Fourth JJ Knee NN Play NN , , '' '' an DT interlude NN from IN `` `` Einstein NNP on IN the DT Beach NN , , '' '' is VBZ like IN a DT toccata NN but CC it PRP does VBZ n't RB seem VB  to TO move VB much RB beyond IN its PRP$ left-hand JJ ground NN in IN `` `` Three CD Blind JJ Mice NNS . . '' ''
When WRB Mr. NNP Glass NNP decides VBZ  to TO get VB really RB fancy JJ  , , he PRP crosses VBZ his PRP$ hands NNS and CC hits VBZ a DT resonant JJ bass NN note NN with IN his PRP$ right JJ hand NN . .
He PRP does VBZ this DT in IN at IN least JJS three CD of IN his PRP$ solo NN pieces NNS . .
You PRP might MD call VB it PRP a DT leitmotif NN or CC a DT virtuoso NN accomplishment NN . .
In IN `` `` Mad JJ Rush NN , , '' '' which WDT  came VBD from IN a DT commission NN  to TO write VB a DT piece NN of IN indeterminate JJ length NN -LRB- -LRB- Mr. NNP Glass NNP charmingly RB , , and CC tellingly RB , , confessed VBD that IN `` `` this DT was VBD no DT problem NN for IN me PRP '' '' -RRB- -RRB- , , an DT A NNP section , alternates NNS with IN a DT B NN section NN several JJ times NNS before IN the DT piece NN ends VBZ unresolved JJ . .
Not RB only RB is VBZ the DT typical JJ Glasswork NNP open-ended JJ , , it PRP is VBZ also RB often RB multiple JJ in IN its PRP$ context NN -LRB- -LRB- s PRP -RRB- -RRB- . .
`` `` Mad JJ Rush NN '' '' began VBD its PRP$ life NN as IN the DT accompaniment NN to TO the DT Dalai NNP Lama NNP 's POS first JJ public JJ address NN in IN the DT U.S. NNP , , when WRB Mr. NNP Glass NNP played VBD it PRP on IN the DT organ NN at IN New NNP York NNP 's POS Cathedral NNP of IN St. NNP John NNP the DT Divine NNP  . .
Later RB it PRP was VBD performed VBN  on IN Radio NNP Bremen NNP in IN Germany NNP , , and CC then RB Lucinda NNP Childs NNP took VBD it PRP for IN one CD of IN her PRP$ dance NN pieces NNS . .
The DT point NN is VBZ that IN any DT piece NN can MD be VB used VBN  as IN background NN music NN for IN virtually JJ anything NN . .
The DT evening NN ended VBD with IN Mr. NNP Glass NNP 's POS `` `` Metamorphosis NN , , '' '' another DT multiple JJ work NN . .
Parts NNS 1 CD , , 2 CD , , and CC 5 CD come VBN from IN the DT soundtrack NN of IN Errol NNP Morris NNP 's POS acclaimed JJ film NN , , `` `` The DT Thin JJ Blue JJ Line NN , , '' '' and CC the DT two CD other JJ parts NNS from IN incidental JJ music NN to TO two CD separate JJ dramatizations NNS of IN the DT Kafka NNP story NN of IN the DT same JJ name NN . .
When WRB  used VBN  as IN background NN in IN this DT way NN  , , the DT music NN has VBZ an DT appropriate JJ eeriness NN , , as IN when WRB a DT two-note JJ phrase NN , , a DT descending VBG minor JJ third NN , , accompanies VBZ the DT seemingly RB endless JJ litany NN of IN reports NNS , , interviews NNS and CC confessions NNS of IN witnesses NNS in IN the DT Morris NNP film NN . .
 Served VBN  up RP as IN a DT solo NN , , however RB , , the DT music NN lacks VBZ the DT resonance NN provided VBN  by IN a DT context NN within IN another DT medium NN . .
Admirers NNS of IN Mr. NNP Glass NNP may MD agree VB with IN the DT critic NN Richard NNP Kostelanetz NNP 's POS sense NN that IN the DT 1974 CD `` `` Music NN in IN Twelve CD Parts NNS '' '' is VBZ as RB encyclopedic JJ and CC weighty JJ as IN `` `` The DT Well-Tempered JJ Clavier NN . . '' ''
But CC while IN  making VBG the DT obvious JJ point NN that IN both DT composers NNS develop VBP variations NNS from IN themes NNS , , this DT comparison NN ignores VBZ the DT intensely RB claustrophobic JJ nature NN of IN Mr. NNP Glass NNP 's POS music NN . .
Its PRP$ supposedly RB austere JJ minimalism NN overlays VBZ a DT bombast NN that WDT  makes VBZ one CD yearn NN for IN the DT astringency NN of IN neoclassical JJ Stravinsky NNP , , the DT genuinely RB radical JJ minimalism NN of IN Berg NNP and CC Webern NNP , , and CC what WP in IN retrospect NN even RB  seems VBZ like IN concision NN in IN Mahler NNP . .
Mr. NNP Spiegelman NNP is VBZ professor NN of IN English NNP at IN Southern NNP Methodist NNP University NNP and CC editor NN of IN the DT Southwest NNP Review NNP . .
Honeywell NNP Inc. NNP said VBD  it PRP hopes VBZ  to TO complete VB shortly RB the DT first JJ of IN two CD sales NNS of IN shares NNS in IN its PRP$ Japanese JJ joint JJ venture NN , , Yamatake-Honeywell NNP , , for IN about IN $ $ 280 CD million CD  . .
The DT company NN would MD n't RB disclose VB the DT buyer NN of IN the DT initial JJ 16 CD % NN stake NN . .
Proceeds NNS of IN the DT sale NN , , expected VBN  to TO be VB completed VBN  next JJ week NN , , would MD be VB used VBN   to TO repurchase VB as RB many JJ as IN 10 CD million CD shares NNS of IN Honeywell NNP stock NN , , the DT company NN said VBD   . .
Honeywell NNP said VBD  it PRP is VBZ negotiating VBG the DT sale NN of IN a DT second JJ stake NN in IN Yamatake-Honeywell NNP , , but CC indicated VBD  it PRP intends VBZ  to TO hold VB at IN least JJS 20 CD % NN of IN the DT joint JJ venture NN 's POS stock NN long JJ term NN . .
A DT 20 CD % NN stake NN would MD allow VB Honeywell NNP to TO include VB Yamatake NNP earnings NNS in IN its PRP$ results NNS . .
Honeywell NNP previously RB said VBD  it PRP intended VBD  to TO reduce VB its PRP$ holding NN in IN the DT Japanese JJ concern NN as IN part NN of IN a DT restructuring NN plan NN which WDT also RB  calls VBZ for IN a DT reduction NN of IN dependence NN on IN weapons NNS sales NNS . .
Yesterday NN a DT spokeswoman NN said VBD  the DT company NN was VBD `` `` pleased JJ with IN our PRP$ progress NN '' '' in IN that DT regard NN and CC `` `` hopes VBZ  to TO provide VB additional JJ details NNS soon RB . . '' ''
Honeywell NNP said VBD  its PRP$ Defense NN and CC Marine NN Systems NNS group NN incurred VBD delays NNS in IN  shipping VBG some DT undisclosed JJ contracts NNS during IN the DT third JJ quarter NN , , resulting VBG in IN lower JJR operating NN profit NN for IN that DT business NN . .
Overall RB , , Honeywell NNP reported VBD earnings NNS of IN $ $ 74.4 CD million CD  , , or CC $ $ 1.73 CD  a DT share NN , , for IN the DT three CD months NNS ended VBN Oct. NNP 1 CD compared VBN with IN a DT loss NN of IN $ $ 41.4 CD million CD  , , or CC 98 CD cents NNS a DT share NN , , a DT year NN earlier RB . .
The DT previous JJ period NN 's POS results NNS included VBD a DT $ $ 108 CD million CD  pretax JJ charge NN related VBN  to TO unrecoverable JJ contract NN costs NNS and CC a DT $ $ 12.3 CD million CD  pretax JJ gain NN on IN real JJ estate NN sales NNS . .
Sales NNS for IN the DT latest JJS quarter NN were VBD flat JJ , , at IN $ $ 1.72 CD billion CD  . .
For IN the DT nine CD months NNS , , Honeywell NNP reported VBD earnings NNS of IN $ $ 212.1 CD million CD  , , or CC $ $ 4.92 CD  a DT share NN , , compared VBN with IN earnings NNS of IN $ $ 47.9 CD million CD  , , or CC $ $ 1.13 CD  a DT share NN , , a DT year NN earlier RB . .
Sales NNS declined VBD slightly RB to TO $ $ 5.17 CD billion CD  . .
Once RB again RB , , your PRP$ editorial NN page NN misstates VBZ the DT law NN   to TO conform VB to TO your PRP$ almost RB beatific JJ misperceptions NNS . .
In IN an DT excursus NN of IN little JJ relevance NN to TO his PRP$ central JJ point NN about IN private JJ enforcement NN suits NNS by IN environmental JJ groups NNS , , Michael NNP S. NNP Greve NNP informs VBZ your PRP$ readers NNS , , `` `` ... : the DT Clean NNP Water NNP Act NNP is VBZ written VBN  upon IN the DT presumption NN -- : the DT pretense NN , , rather RB -- : that IN nothing NN but CC zero CD risk NN will MD do VB ; : it PRP establishes VBZ a DT legal JJ standard NN of IN zero CD discharge NN '' '' -LRB- -LRB- `` `` Congress's NNP Environmental JJ Buccaneers NNS , , '' '' Sept. NNP 18 CD -RRB- -RRB- . .
This DT statement NN surely RB buttresses VBZ your PRP$ editorial NN viewpoint NN that IN environmental JJ protection NN is VBZ generally RB silly JJ or CC excessive JJ , , but CC it PRP is VBZ simply RB wrong JJ . .
The DT Clean NNP Water NNP Act NNP contains VBZ no DT `` `` legal JJ standard NN '' '' of IN zero CD discharge NN . .
It PRP requires VBZ that IN `` `` discharges NNS of IN pollutants NNS '' '' into IN the DT `` `` waters NNS of IN the DT United NNP States NNPS '' '' be VB authorized VBN  by IN permits NNS that WDT  reflect VBP the DT effluent JJ limitations NNS developed VBN  under IN section NN 301 CD . .
Whatever WDT  may MD be VB the DT problems NNS with IN this DT system NN , , it PRP scarcely RB reflects VBZ `` `` zero CD risk NN '' '' or CC `` `` zero CD discharge NN . . '' ''
Perhaps RB Mr. NNP Greve NNP was VBD confused VBN  by IN Congress NNP 's POS meaningless JJ statement NN of IN `` `` the DT national JJ goal NN '' '' in IN section NN 101 CD , , which WDT indeed RB  calls VBZ for IN the DT elimination NN of IN discharges NNS -- : by IN 1985 CD , , no DT less JJR . .
This DT fatuous JJ statement NN was VBD not RB taken VBN  seriously RB when WRB  enacted VBN  in IN 1972 CD  , , and CC should MD not RB now RB be VB confused VBN  with IN the DT operative JJ provisions NNS of IN the DT statute NN . .
Thus RB , , you PRP do VBP the DT public NN a DT great JJ disservice NN when WRB Mr. NNP Greve NNP suggests VBZ , , even RB facetiously RB , , that IN the DT Clean NNP Water NNP Act NNP prohibits VBZ the DT preparation NN of IN a DT scotch NN and CC water NN  ; : your PRP$ tippling JJ readers NNS may MD be VB led VBN  to TO believe VB that IN nothing NN but CC chance NN or CC oversight NN protects VBZ them PRP , , as IN they PRP cower VBP in IN the DT night NN with IN their PRP$ scotch NN and CC waters NNS , , from IN the DT hairyknuckled JJ knock NN of IN the DT Sierra NNP Club NNP at IN their PRP$ doors NNS . .
Robert NNP J. NNP McManus NNP
National NNP Geographic NNP , , the DT sixth-largest JJ U.S. NNP magazine NN , , is VBZ attracting VBG more JJR readers NNS than IN ever RB and CC offers VBZ the DT glossy JJ , , high-toned JJ pages NNS that IN upscale JJ advertisers NNS love VBP  . .
So RB why WRB did VBD advertising NN pages NNS plunge VBP by IN almost RB 10 CD % NN and CC ad NN revenue NN by IN 7.2 CD % NN in IN the DT first JJ half NN  ? .
 To TO hear VB advertisers NNS tell VB it PRP , , the DT magazine NN just RB has VBZ n't RB kept VBD up RP with IN the DT times NNS . .
Despite IN renewed VBN interest NN by IN the DT public NN in IN such JJ topics NNS as IN the DT environment NN and CC the DT Third NNP World NNP , , it PRP has VBZ n't RB been VBN able JJ  to TO shake VB its PRP$ reputation NN as IN a DT magazine NN  boys NNS like VBP  to TO flip VB through RB  in IN search NN of IN topless JJ tribe NN women NNS . .
Worse JJR , , it PRP lagged VBD behind IN competitors NNS in IN  offering VBG now-standard JJ gimmicks NNS , , from IN regional JJ editions NNS to TO discounts NNS for IN frequent JJ advertisers NNS . .
But CC now RB , , the DT magazine NN is VBZ attempting VBG  to TO fight VB back RP , , with IN an DT ambitious JJ plan NN including VBG a DT revamped VBN sales NNS strategy NN and CC a DT surprisingly RB aggressive JJ ad NN campaign NN . .
Advertisers NNS do VBP n't RB think VB of IN the DT magazine NN first RB , , says VBZ   Joan NNP McCraw NNP , , who WP  joined VBD in IN April NNP as IN national JJ advertising NN director NN . .
`` `` What WP we PRP want VBP  to TO do VB  is VBZ  take VB a DT more RBR aggressive JJ stance NN . .
People NNS did VBD n't RB believe VB  we PRP were VBD in IN tune NN with IN the DT marketplace NN , , and CC in IN many JJ ways NNS we PRP were VBD n't RB  . . '' ''
The DT 101-year-old JJ magazine NN has VBZ never RB had VBN  to TO woo VB advertisers NNS with IN quite RB so RB much JJ fervor NN before RB . .
It PRP largely RB rested VBD on IN its PRP$ hard-to-fault JJ demographics NNS : : 10.8 CD million CD subscribers NNS in IN the DT first JJ half NN , , up RB from IN 10.5 CD million CD a DT year NN ago RB ; : an DT average JJ age NN of IN 42 CD for IN readers NNS -- : at IN the DT height NN of IN their PRP$ consuming NN years NNS ; : loyalty NN to TO the DT tune NN of IN an DT 85 CD % NN average JJ subscription NN renewal NN rate NN . .
The DT magazine NN had VBD its PRP$ best JJS year NN yet RB in IN 1988 CD , , when WRB it PRP celebrated VBD its PRP$ centennial NN  and CC racked VBD up RP a DT 17 CD % NN gain NN in IN ad NN pages NNS , , to TO 283 CD  . .
But CC this DT year NN , , when WRB the DT hullabaloo NN surrounding VBG its PRP$ centennial NN died VBD  , , so RB too RB did VBD  some DT advertiser NN interest NN . .
The DT reason NN , , ad NN executives NNS say VBP   , , is VBZ that IN the DT entire JJ magazine NN business NN has VBZ been VBN soft JJ -- : and CC National NNP Geographic NNP has VBZ some DT quirks NNS that WDT  make VBP it PRP especially RB unattractive JJ during IN a DT soft JJ market NN . .
Perhaps RB the DT biggest JJS of IN those DT factors NNS is VBZ its PRP$ high JJ ad NN prices NNS -- : $ $ 130,000 CD  for IN a DT four-color JJ page NN , , vs. FW $ $ 47,000 CD  for IN the DT Smithsonian NNP , , a DT comparable JJ publication NN with IN a DT far RB smaller JJR circulation NN . .
When WRB ad NN dollars NNS are VBP tight JJ  , , the DT high JJ page NN cost NN is VBZ a DT major JJ deterrent NN for IN advertisers NNS , , who WP generally RB  want VBP  to TO appear VB regularly RB in IN a DT publication NN or CC not RB at IN all DT . .
Even RB though IN National NNP Geographic NNP offers VBZ far RB more JJR readers NNS than IN does VBZ a DT magazine NN like IN Smithsonian NNP  , , `` `` the DT page NN costs VBZ you PRP an DT arm NN and CC a DT leg NN  to TO develop VB any DT frequency NN , , '' '' says VBZ   Harry NNP Glass NNP , , New NNP York NNP media NNS manager NN for IN Bozell NNP Inc NNP . .
 To TO combat VB that DT problem NN , , National NNP Geographic NNP , , like IN other JJ magazines NNS , , began VBD  offering VBG regional JJ editions NNS allowing VBG advertisers NNS to TO appear VB in IN only RB a DT portion NN of IN its PRP$ magazines NNS -- : for IN example NN , , ads NNS can MD run VB only RB in IN the DT magazines NNS sent VBN  to TO subscribers NNS in IN the DT largest JJS 25 CD markets NNS . .
But CC the DT magazine NN was VBD slower JJR  than IN its PRP$ competitors NNS  to TO come VB up RP with IN its PRP$ regional JJ editions NNS , , and CC until IN last JJ year NN offered VBD fewer JJR of IN them PRP than IN did VBD competitors NNS  . .
Time NNP magazine NN , , for IN example NN , , has VBZ more JJR than IN 100 CD separate JJ editions NNS going VBG to TO different JJ regions NNS , , top JJ management NN , , and CC other JJ groups NNS . .
Another DT sticking JJ point NN for IN advertisers NNS was VBD National NNP Geographic NNP 's POS tradition NN of IN  lumping VBG its PRP$ ads NNS together RB , , usually RB at IN the DT beginning NN or CC end NN of IN the DT magazine NN , , rather RB than IN spreading VBG ads NNS out RP among IN its PRP$ articles NNS , , as IN most JJS magazines NNS do VBP  . .
And CC National NNP Geographic NNP 's POS smaller-than-average JJ size NN means VBZ extra JJ production NN costs NNS for IN advertisers NNS . .
But CC Ms. NNP McCraw NNP says VBZ  the DT magazine NN is VBZ fighting VBG back RB . .
It PRP now RB offers VBZ 30 CD regional JJ editions NNS , , it PRP very RB recently RB began VBD  running VBG ads NNS adjacent JJ to TO articles NNS , , and CC it PRP has VBZ been VBN beefing VBG up RP its PRP$ sales NNS force NN . .
And CC it PRP just RB launched VBD a DT promotional JJ campaign NN   to TO tell VB chief JJ executives NNS , , marketing NN directors NNS , , and CC media NNS executives NNS just RB that DT . .
The DT centerpiece NN of IN the DT promotion NN is VBZ its PRP$ new JJ ad NN campaign NN , , into IN which WDT the DT magazine NN will MD pour VB about IN $ $ 500,000 CD  , , mostly RB in IN the DT next JJ few JJ weeks NNS  . .
The DT campaign NN , , created VBN  by IN Omnicom NNP Group NNP 's POS DDB NNP Needham NNP agency NN , , takes VBZ advantage NN of IN the DT eye-catching JJ photography NN that IN National NNP Geographic NNP is VBZ known VBN  for IN  . .
In IN one CD ad NN , , a DT photo NN of IN the DT interior NN of IN the DT Sainte-Chapelle NNP in IN Paris NNP is VBZ paired VBN  with IN the DT headline NN , , `` `` The DT only JJ book NN more RBR respected JJ than IN ours JJ does VBZ n't RB accept VB advertising NN . . '' ''
Another DT ad NN pictures VBZ a DT tree NN ant NN , , magnified VBN  80 CD times NNS , , with IN the DT headline NN , , `` `` For IN impact NN far RB beyond IN your PRP$ size NN  consider VB our PRP$ regional JJ editions NNS . . '' ''
Ms. NNP McCraw NNP says VBZ  she PRP wants VBZ the DT campaign NN to TO help VB  attract VB advertisers NNS in IN 10 CD categories NNS , , including VBG corporate JJ , , financial JJ services NNS , , consumer NN electronics NNS , , insurance NN and CC food NN . .
Her PRP$ goal NN : :  to TO top VB 300 CD ad NN pages NNS in IN 1990 CD , , up RB from IN about IN 274 CD this DT year NN . .
Whether IN she PRP can MD meet VB that DT ambitious JJ goal NN is VBZ still RB far RB from IN certain JJ . .
`` `` The DT ad NN campaign NN is VBZ meant VBN  to TO contemporize VB the DT thought NN of IN National NNP Geographic NNP , , '' '' she PRP says VBZ  . .
`` `` We PRP want VBP it PRP to TO be VB a DT '90s NNS kind NN of IN image NN . . '' ''
WCRS NNP Plans VBZ Ad-Unit NN Sale NN
WCRS NNP Group NNP hopes VBZ  to TO announce VB , , perhaps RB today NN , , an DT agreement NN  to TO sell VB the DT majority NN of IN its PRP$ ad NN unit NN to TO Paris-based JJ Eurocom NNP , , a DT European JJ ad NN executive NN said VBD   . .
WCRS NNP has VBZ been VBN in IN discussions NNS with IN Eurocom NNP for IN several JJ months NNS . .
However RB , , when WRB negotiations NNS bogged VBD down RP recently RB  , , WCRS NNP 's POS chief JJ executive NN , , Peter NNP Scott NNP , , met VBD in IN Paris NNP with IN another DT French JJ firm NN , , Boulet NNP Dru NNP Dupuy NNP Petit NNP , , or CC BDDP NNP . .
According VBG to TO the DT executive NN , , BDDP NNP 's POS involvement NN prompted VBD renewed VBN vigor NN in IN the DT WCRS-Eurocom JJ talks NNS and CC the DT two CD agencies NNS were VBD hoping VBG  to TO hammer VB out RP details NNS by IN today NN . .
Executives NNS of IN the DT two CD agencies NNS could MD n't RB be VB reached VBN  last JJ night NN . .
Ad NN Notes NNS ... : . .
NEW JJ ACCOUNT NN : : Procter NNP & CC Gamble NNP Co. NNP , , Cincinnati NNP , , awarded VBD the DT ad NN accounts NNS for IN its PRP$ line NN of IN Professional NNP Crisco NNP vegetable NN shortening NN and CC oil NN products NNS to TO Northlich NNP , , Stolley NNP , , LaWarre NNP , , Cincinnati NNP . .
Billings NNS were VBD n't RB disclosed VBN  . .
Professional JJ Crisco NNP products NNS are VBP specially RB made VBN  for IN the DT foodservice NN industry NN . .
WHO WP  'S VBZ NEWS NN : : Stephen NNP Novick NNP , , 49 CD , , was VBD named VBN  executive NN vice NN president NN , , deputy NN creative JJ director NN at IN Grey NNP Advertising NNP , , New NNP York NNP . .
He PRP was VBD executive NN vice NN president NN , , director NN of IN broadcast NN production NN . .
The DT Commodity NNP Futures NNPS Trading NNP Commission NNP plans VBZ  to TO restrict VB dual JJ trading NN on IN commodity NN exchanges NNS , , a DT move NN almost RB certain JJ  to TO infuriate VB exchange NN officials NNS and CC traders NNS . .
The DT CFTC NNP said VBD  it PRP will MD propose VB the DT restrictions NNS after IN the DT release NN of IN a DT study NN that WDT  shows VBZ little JJ economic JJ benefit NN resulting VBG from IN dual JJ trading NN and CC cites VBZ `` `` problems NNS '' '' associated JJ  with IN the DT practice NN . .
Dual JJ trading NN gives VBZ an DT exchange NN trader NN the DT right NN   to TO trade VB both DT for IN his PRP$ own JJ account NN and CC for IN customers NNS . .
The DT issue NN exploded VBD this DT year NN after IN a DT Federal NNP Bureau NNP of IN Investigation NNP operation NN led VBD to TO charges NNS of IN widespread JJ trading NN abuses NNS at IN the DT Chicago NNP Board NNP of IN Trade NNP and CC Chicago NNP Mercantile NNP Exchange NNP . .
While IN  not RB specifically RB mentioned VBN  in IN the DT FBI NNP charges NNS , , dual JJ trading NN became VBD a DT focus NN of IN attempts NNS  to TO tighten VB industry NN regulations NNS . .
Critics NNS contend VBP that IN traders NNS were VBD putting VBG buying NN or CC selling NN for IN their PRP$ own JJ accounts NNS ahead RB of IN other JJ traders NNS ' POS customer NN orders NNS . .
Traders NNS are VBP likely JJ  to TO oppose VB such JJ restrictions NNS because IN dual JJ trading NN provides VBZ a DT way NN   to TO make VB money NN in IN slower JJR markets NNS where WRB there EX is VBZ a DT shortage NN of IN customer NN orders NNS   . .
The DT exchanges NNS contend VBP that IN dual JJ trading NN improves VBZ liquidity NN in IN the DT markets NNS because IN traders NNS can MD buy VB or CC sell VB even RB when WRB they PRP do VBP n't RB have VB a DT customer NN order NN in IN hand NN  . .
The DT exchanges NNS say VBP  liquidity NN becomes VBZ a DT severe JJ problem NN for IN thinly RB traded JJ contracts NNS such JJ as IN those DT with IN a DT long JJ time NN remaining VBG before IN expiration NN . .
The DT CFTC NNP may MD take VB those DT arguments NNS into IN account NN by IN  allowing VBG exceptions NNS to TO its PRP$ restrictions NNS . .
The DT agency NN did VBD n't RB cite VB specific JJ situations NNS where WRB dual JJ trading NN might MD be VB allowed VBN   , , but CC smaller JJR exchanges NNS or CC contracts NNS that WDT  need VBP additional JJ liquidity NN are VBP expected VBN  to TO be VB among IN them PRP . .
Wendy NNP Gramm NNP , , the DT agency NN 's POS chairman NN , , told VBD the DT Senate NNP Agriculture NNP Committee NNP that IN she PRP expects VBZ the DT study NN to TO be VB released VBN  within IN two CD weeks NNS and CC the DT rule NN changes NNS to TO be VB completed VBN  by IN Thanksgiving NNP . .
The DT study NN , , by IN the DT CFTC NNP 's POS division NN of IN economic JJ analysis NN , , shows VBZ that IN `` `` a DT trade NN is VBZ a DT trade NN , , '' '' a DT member NN of IN the DT study NN team NN said VBD  . .
Whether IN a DT trade NN is VBZ done VBN  on IN a DT dual JJ or CC non-dual JJ basis NN , , the DT member NN said VBD   , , `` `` does VBZ n't RB seem VB  to TO have VB much JJ economic JJ impact NN . . '' ''
Currently RB , , most JJS traders NNS on IN commodity NN exchanges NNS specialize VBP in IN trading NN either CC for IN customer NN accounts NNS , , which WDT  makes VBZ them PRP brokers NNS , , or CC for IN their PRP$ own JJ accounts NNS as IN socalled JJ locals NNS . .
`` `` The DT tests NNS indicate VBP that IN dual JJ and CC non-dual JJ traders NNS are VBP similar JJ in IN terms NNS of IN the DT trade NN executions NNS and CC liquidity NN  they PRP provide VBP  to TO the DT market NN , , '' '' Mrs. NNP Gramm NNP told VBD the DT Senate NNP panel NN  . .
Members NNS of IN Congress NNP have VBP proposed VBN  restricting VBG dual JJ trading NN in IN bills NNS   to TO reauthorize VB CFTC NNP operations NNS . .
The DT House NNP 's POS bill NN would MD prohibit VB dual JJ trading NN in IN markets NNS with IN daily JJ average JJ volume NN of IN 7,000 CD contracts NNS or CC more JJR , , comprising VBG those DT considered VBN  too RB difficult JJ   to TO track VB  without IN a DT sophisticated JJ computer NN system NN . .
The DT Senate NNP bill NN would MD force VB the DT CFTC NNP to TO suspend VB dual JJ trading NN if IN an DT exchange NN ca MD n't RB show VB that DT its PRP$ oversight NN system NN can MD detect VB dual-trading NN abuses NNS . .
So RB far RB , , one CD test NN of IN  restricting VBG dual JJ trading NN has VBZ worked VBN well RB . .
The DT Chicago NNP Merc NNP banned VBD dual JJ trading NN in IN its PRP$ Standard NNP & CC Poor NNP 's POS 500-stock JJ index NN futures NNS pit NN in IN 1987 CD . .
Under IN the DT rules NNS , , traders NNS decide VBP before IN a DT session NN begins VBZ whether IN they PRP will MD trade VB for IN their PRP$ own JJ account NN or CC for IN customers NNS . .
Traders NNS who WP  stand VBP on IN the DT pit NN 's POS top NN step NN , , where WRB most JJS customer NN orders NNS are VBP executed VBN   , , ca MD n't RB trade VB for IN themselves PRP . .
A DT Merc NNP spokesman NN said VBD  the DT plan NN has VBZ n't RB made VBD much JJ difference NN in IN liquidity NN in IN the DT pit NN . .
`` `` It PRP 's VBZ too RB soon RB  to TO tell VB ... : but CC people NNS do VBP n't RB seem VB  to TO be VB unhappy JJ with IN it PRP , , '' '' he PRP said VBD  . .
He PRP said VBD  he PRP would MD n't RB comment VB on IN the DT CFTC NNP plan NN until IN the DT exchange NN has VBZ seen VBN the DT full JJ proposal NN . .
But CC at IN a DT meeting NN last JJ week NN , , Tom NNP Donovan NNP , , the DT Board NNP of IN Trade NNP 's POS president NN , , told VBD commodity NN lawyers NNS : : `` `` Dual JJ trading NN is VBZ definitely RB worth JJ  saving NN . .
It PRP adds VBZ something NN to TO the DT market NN . .
Japanese JJ Firms NNS Push VBP Posh JJ Car NN Showrooms NNS
JAPANESE JJ luxury-car NN makers NNS are VBP trying VBG  to TO set VB strict JJ design NN standards NNS for IN their PRP$ dealerships NNS . .
But CC some DT dealers NNS are VBP negotiating VBG looser JJR terms NNS , , while IN others NNS decline VBP  to TO deal VB at IN all DT . .
Nissan NNP Motor NNP Co. NNP 's POS Infiniti NNP division NN likes VBZ  to TO insist VB that IN every DT dealer NN construct VB and CC furnish VB a DT building NN in IN a DT Japanese JJ style NN . .
Specifications NNS include VBP a DT polished JJ bronze NN sculpture NN at IN the DT center NN of IN each DT showroom NN and CC a DT tile NN bridge NN spanning VBG a DT stream NN that WDT  flows VBZ into IN the DT building NN from IN outside RB . .
`` `` Infiniti NNP has VBZ it PRP down RB to TO the DT ashtrays NNS , , '' '' says VBZ  Jay NNP Ferron NNP , , a DT partner NN at IN J.D. NNP Power NNP & CC Associates NNPS , , an DT auto NN research NN firm NN . .
Toyota NNP Motor NNP Corp. NNP 's POS Lexus NNP division NN also RB provides VBZ specifications NNS . .
But CC only JJ two-thirds NNS of IN Lexus NNP dealers NNS are VBP constructing VBG new JJ buildings NNS according VBG to TO the DT Lexus NNP specs NNS . .
Some DT are VBP even RB coming VBG up RP with IN their PRP$ own JJ novel NN designs NNS . .
In IN Louisville NNP , , Ky. NNP , , for IN example NN , , David NNP Peterson NNP has VBZ built VBN a DT Lexus NNP dealership NN with IN the DT showroom NN on IN the DT second JJ floor NN . .
Yet CC some DT dealers NNS have VBP turned VBN down RP Infiniti NNP or CC Lexus NNP franchises NNS because IN they PRP were VBD unwilling JJ or CC unable JJ  to TO meet VB the DT design NN requirements NNS . .
Lee NNP Seidman NNP of IN Cleveland NNP says VBZ  Infiniti NNP `` `` was VBD a DT bear NN on IN interiors NNS '' '' but CC at IN least JJS let VB him PRP retrofit VB an DT existing VBG building NN -- : without IN the DT stream NN . .
Mr. NNP Seidman NNP says VBZ  he PRP turned VBD down RP a DT Lexus NNP franchise NN in IN part NN because IN `` `` the DT building NN was VBD gorgeous JJ but CC very RB expensive JJ . . '' ''
 To TO head VB off RP arguments NNS , , Infiniti NNP offers VBZ dealers NNS cash NN bonuses NNS and CC low-interest JJ construction NN loans NNS . .
Dictation NN Device NN 's POS Saga NN Plays VBZ Back RP a DT Lesson NN
PRODUCTS NNS DON'T VB have VBP  to TO be VB first JJ  to TO be VB winners NNS . .
That DT 's VBZ the DT lesson NN offered VBN  through IN one CD case NN study NN featured VBN  in IN a DT design NN exhibit NN . .
Dictaphone NNP Corp. NNP was VBD caught VBN  off IN guard NN in IN 1974 CD when WRB its PRP$ main JJ competitor NN , , Lanier NNP Office NNP Products NNPS of IN Japan NNP , , introduced VBD a DT microcassette NN dictation NN recorder NN half PDT the DT size NN of IN standard JJ cassette NN devices NNS . .
 Blocked VBN  by IN patent NN protection NN from IN  following VBG suit RB , , Dictaphone NNP decided VBD  to TO go VB a DT step NN further RBR and CC cut VB the DT cassette NN in IN half NN  again RB -- : down IN to TO the DT length NN of IN a DT paperclip NN . .
By IN 1979 CD , , designers NNS and CC engineers NNS at IN Dictaphone NNP , , a DT Pitney NNP Bowes NNP subsidiary NN , , had VBD produced VBN a DT working JJ model NN of IN a DT `` `` picocassette NN '' '' recorder NN . .
By IN 1982 CD , , however RB , , the DT patent NN status NN of IN the DT Lanier NNP microcassette NN had VBD changed VBN , ,  permitting VBG Dictaphone NN to TO develop VB its PRP$ own JJ competitive JJ micro JJ system NN , , which WDT it PRP did VBD  . .
Marketing NN and CC sales NNS departments NNS then RB urged VBD abandonment NN of IN the DT pico NN project NN . .
But CC others NNS said VBD  pico NN should MD proceed VB . .
Both DT were VBD right JJ . .
Dictaphone NNP went VBD ahead RB and CC introduced VBD the DT pico NN in IN 1985 CD , , but CC it PRP has VBZ n't RB sold VBN well RB . .
To TO date NN , , says VBZ   Emil NNP Jachmann NNP , , a DT Dictaphone NNP vice NN president NN , , it PRP has VBZ `` `` broken VBN even RB or CC shown VBN a DT small JJ loss NN . . '' ''
Nevertheless RB , , the DT device NN has VBZ been VBN successful JJ in IN other JJ ways NNS . .
It PRP helped VBD Dictaphone NNP attract VB better JJR engineers NNS , , and CC it PRP provided VBD new JJ technology NN for IN other JJ company NN products NNS . .
The DT picocassette NN recorder NN also RB helped VBD  transform VB the DT company NN 's POS reputation NN from IN follower NN to TO leading-edge JJ innovator NN . .
`` `` It PRP  gave VBD me PRP great JJ pride NN  to TO see VB the DT inventor NN of IN the DT microcassette NN in IN Japan NNP look VB at IN the DT pico NN and CC shake VB his PRP$ head NN and CC say VB ` `` unbelievable JJ , , ' '' '' '' says VBZ  Mr. NNP Jachmann NNP . .
Dictaphone NNP 's POS picocassette NN recorder NN is VBZ one CD of IN 13 CD case NN studies NNS in IN the DT TRIAD NNP Design NNP Project NNP , , sponsored VBN  by IN the DT Design NNP Management NNP Institute NNP of IN Boston NNP and CC Harvard NNP Business NNP School NNP . .
The DT studies NNS are VBP on IN exhibit NN at IN Harvard NNP this DT month NN and CC will MD travel VB to TO Chicago NNP 's POS Institute NNP of IN Design NNP and CC the DT University NNP of IN California NNP at IN Berkeley NN . .
A DT Rake NN 's POS Progress NN Means VBZ  Branching NNP Out RB
ONE CD DAY NNP Carl NNP Barrett NNP of IN Mobile NNP , , Ala. NNP , , was VBD raking VBG some DT sycamore NN leaves NNS , , but CC the DT rake NN kept VBD  riding VBG up RP over IN the DT piles NN . .
The DT harder RBR he PRP tried VBD  to TO push VB them PRP into IN large JJ piles NNS , , the DT closer RBR he PRP came VBD to TO  breaking VBG the DT rake NN and CC straining VBG his PRP$ back NN . .
So RB Mr. NNP Barrett NNP , , then RB vice NN president NN of IN the DT Alabama NNP Steamship NNP Association NNP , , took VBD a DT steel-toothed JJ garden NN rake NN and CC taped VBD it PRP to TO the DT underside NN of IN a DT leaf NN rake NN about IN nine CD inches NNS up RB . .
His PRP$ crude JJ device NN worked VBD : : The DT lower JJR teeth NNS gathered VBD the DT leaves NNS into IN a DT pile NN , , while IN the DT higher JJR , , harder JJR teeth NNS moved VBD the DT top NN of IN the DT pile NN . .
 Now RB incorporated JJ  into IN a DT polypropylene NN rake NN , , the DT four-inch JJ prongs NNS , , or CC `` `` wonderbars NNS , , '' '' also RB are VBP supposed VBN  to TO aid VB in IN  picking VBG up RP leaves NNS . .
One CD customer NN , , Donald NNP Blaggs NNP of IN Mobile NNP , , says VBZ  the DT Barrett NNP Rake NN allowed VBD him PRP to TO do VB his PRP$ lawn NN in IN 2 CD 1\/2 CD hours NNS , , two CD hours NNS less JJR than IN usual JJ . .
But CC other JJ rake NN makers NNS have VBP their PRP$ doubts NNS . .
Richard NNP Mason NNP , , president NN of IN Ames NNP Co. NNP in IN Parkersburg NNP , , W. NNP Va. NNP , , says VBZ  the DT Barrett NNP rake NN `` `` makes VBZ sense NN , , '' '' but CC it PRP would MD be VB `` `` tough JJ '' ''   to TO explain VB  to TO consumers NNS . .
John NNP Stoner NNP , , marketing NN director NN for IN True NNP Temper NNP Corp. NNP , , a DT subsidiary NN of IN Black NNP & CC Decker NNP , , says VBZ  people NNS do VBP n't RB want VB  to TO move VB a DT leaf NN pile NN . .
`` `` They PRP either RB pick VBP it PRP up RP , , '' '' he PRP says VBZ  , , `` `` or CC they PRP start VBP  pulling VBG from IN a DT fresh JJ direction NN . . '' ''
Odds NNS and CC Ends NNS
NO DT MORE RB STUBBED VBN toes NNS or CC bruised VBN shins NNS , , promises VBZ  Geste NNP Corp. NNP of IN Goshen NNP , , Ind. NNP , , the DT designer NN of IN a DT bed NN support NN   to TO replace VB traditional JJ frames NNS . .
Four CD tubular JJ steel NN `` `` Bedfellows NNS , , '' '' each DT roughly RB in IN the DT shape NN of IN a DT `` `` W NNP , , '' '' are VBP attached VBN  to TO the DT bottom NN of IN the DT box NN spring NN in IN a DT recessed VBN position NN ... : . .
Nearly RB half NN of IN U.S. NNP consumers NNS say VBP  they PRP 'll MD pay VB up RB to TO 5 CD % NN more JJR for IN packaging NN that DT  can MD be VB recycled VBN  or CC is VBZ biodegradable JJ , , according VBG to TO a DT survey NN commissioned VBN  by IN the DT Michael NNP Peters NNP Group NNP , , a DT design NN consultant NN . .
The DT Pentagon NNP is VBZ a DT haunted JJ house NN . .
 Living VBG there RB for IN six CD years NNS was VBD really RB scary JJ . .
The DT ghosts NNS of IN the DT past NN are VBP everywhere RB : : They PRP are VBP kept VBN  at IN bay NN only RB by IN  feeding VBG them PRP vast JJ quantities NNS of IN our PRP$ defense NN budget NN . .
Some DT can MD be VB bought VBN  off RP relatively RB cheaply RB . .
During IN the DT Korean NNP War NNP , , Gen. NNP Douglas NNP MacArthur NNP demanded VBD and CC got VBD , , in IN addition NN to TO his PRP$ U.N. NNP command NN in IN Korea NNP , , his PRP$ own JJ naval JJ command NN in IN Japan NNP , , NavforJapan NNP . .
Those DT obsolete JJ operations NNS cost VBP less JJR than IN $ $ 2 CD billion CD  a DT year NN , , and CC keep VBP Mac NNP 's POS ghost NN quiet JJ . .
That DT 's VBZ about IN all DT  it PRP costs VBZ   to TO appease VB Adm. NNP Erich NNP Raeder NNP 's POS ghost NN . .
In IN 1941 CD , , Raeder NNP and CC the DT German JJ navy NN threatened VBD  to TO attack VB the DT Panama NNP Canal NNP , , so RB we PRP created VBD the DT Southern NNP Command NNP in IN Panama NNP . .
The DT Southern NNP Command NNP has VBZ grown VBN even RB bigger RBR since IN the DT war NN because IN Raeder NNP 's POS ghost NN sometimes RB runs VBZ through IN the DT E NN ring NN  dressed VBN like IN Gen. NNP Noriega NNP . .
The DT Command NNP 's POS huge JJ bureaucracy NN is VBZ needed VBN   to TO analyze VB whether IN leaders NNS of IN coups NNS against IN Gen. NNP Noriega NNP meet VBP the DT War NNP Powers NNP Act NNP 's POS six CD points NNS , , Cap NNP Weinberger NNP 's POS seven CD points NNS , , the DT Intelligence NNP Committee NNP 's POS 32 CD points NNS and CC Woodrow NNP Wilson NNP 's POS 14 CD points NNS necessary JJ  to TO justify VB U.S. NNP support NN . .
So IN far RB no DT one NN has VBZ  . .
The DT ghost NN of IN the DT Soviet JJ brigade NN discovered VBD  in IN Cuba NNP back RB in IN the DT '70s NNS costs VBZ just RB a DT few JJ hundred CD million CD : : the DT price NN of IN the DT Caribbean NNP Command NNP in IN Key NNP West NNP that IN President NNP Carter NNP created VBD  in IN 1980 CD . .
The DT brigade NN has VBZ n't RB been VBN heard VBN from IN  since RB , , but CC we PRP keep VBP the DT staff NN around RB just RB in IN case NN . .
George NNP Marshall NNP 's POS ghost NN is VBZ much RB more RBR difficult JJ  to TO keep VB  happy JJ . .
We PRP keep VBP a DT lot NN of IN shrines NNS to TO him PRP  around IN the DT Pentagon NNP : : statues NNS , , busts NNS , , relics NNS and CC such JJ . .
The DT Army NNP headquarters NN on IN the DT third JJ deck NN of IN the DT Pentagon NNP used VBD  to TO burn VB a DT lot NN of IN incense NN to TO him PRP , , but CC the DT Navy NNP headquarters NN on IN the DT fourth JJ deck NN made VBD them PRP stop VB it PRP . .
You PRP see VBP , , Marshall NNP had VBD this DT thing NN about IN the DT Navy NNP and CC the DT Marines NNPS -- : he PRP wanted VBD  to TO make VB them PRP part NN of IN the DT Army NNP but CC Secretary NNP of IN the DT Navy NNP James NNP Forrestal NNP blocked VBD him PRP . .
Now RB his PRP$ ghost NN wo MD n't RB let VB up RP till IN it PRP 's VBZ done VBN  . .
 To TO keep VB him PRP quiet VB we PRP invent VBP a DT new JJ unified JJ command NN  every DT year NN or CC so RB run VB  by IN the DT Army NNP or CC the DT Air NNP Force NNP and CC put VBD more JJR of IN the DT Navy NNP and CC Marines NNPS under IN it PRP . .
But CC we PRP still RB hear VBP him PRP moaning VBG at IN night NN because IN the DT Navy NNP has VBZ a DT few JJ ships NNS left VBN , , and CC  to TO satisfy VB him PRP the DT Navy NNP 's POS sea NN lift NN forces NNS were VBD given VBN  to TO a DT new JJ Air NNP Force NNP bureaucracy NN in IN Illinois NNP , , its PRP$ space NN operations NNS to TO another DT command NN in IN Colorado NNP , , the DT frogmen NNS to TO a DT new JJ Army NNP bureaucracy NN in IN Fort NNP Bragg NNP , , and CC the DT Navy NNP 's POS Indian NNP Ocean NNP and CC Persian NNP Gulf NNP forces NNS to TO an DT Army NNP bureaucracy NN in IN Florida NNP . .
Which WDT  brings VBZ up RP the DT worst JJS and CC meanest JJS ghost NN of IN all DT -- : the DT ghost NN of IN the DT shah NN of IN Iran NNP . .
When WRB the DT shah NN died VBD  , , President NNP Carter NNP was VBD so RB scared VBN that IN the DT shah NN 's POS ghost NN would MD blame VB him PRP for IN  shoving VBG him PRP out RP  to TO make VB way NN for IN the DT ayatollah NN that IN he PRP declared VBD the DT Carter NNP Doctrine NNP . .
Mr. NNP Carter NNP said VBD  he PRP would MD go VB to TO war NN  to TO stop VB anyone NN from IN  trying VBG  to TO grab VB Iran NNP . .
But CC that DT ghost NN would MD n't RB settle VB for IN words NNS , , he PRP wanted VBD money NN and CC people NNS -- : lots NNS . .
So RB Mr. NNP Carter NNP formed VBD three CD new JJ Army NNP divisions NNS and CC gave VBD them PRP to TO a DT new JJ bureaucracy NN in IN Tampa NNP called VBN  the DT Rapid NNP Deployment NNP Force NNP . .
But CC that DT ghost NN was VBD n't RB fooled VBN  ; : he PRP knew VBD  the DT RDF NNP was VBD neither CC rapid JJ nor CC deployable JJ nor CC a DT force NN -- : even RB though IN it PRP cost VBD $ $ 8 CD billion CD  or CC $ $ 10 CD billion CD  a DT year NN . .
After IN Mr. NNP Carter NNP was VBD defeated VBN  in IN 1980 CD , , the DT shah NN 's POS ghost NN claimed VBD the DT credit NN and CC then RB went VBD after IN President NNP Reagan NNP and CC Cap NNP Weinberger NNP . .
I PRP saw VBD what WP he PRP did VBD  to TO them PRP firsthand RB . .
It PRP made VBD my PRP$ shoelaces NNS dance VB with IN terror NN . .
Why WRB , , he PRP used VBD  to TO lay VB in IN wait NN for IN Cap NNP ; : suddenly RB he PRP 'd MD leap VB from IN behind IN some DT statue NN of IN Marshall NNP onto IN Cap NNP 's POS chest NN and CC grab VB him PRP by IN the DT throat NN and CC choke VB him PRP till IN he PRP coughed VBD up RP an DT additional JJ $ $ 2 CD billion CD  or CC so RB . .
Cap NNP added VBD four CD more JJR divisions NNS  to TO the DT Army NNP , , two CD active JJ and CC two CD reserve JJ ; : two CD carrier NN groups NNS to TO the DT Navy NNP ; : a DT division NN -- : equivalent JJ to TO the DT Marines NNPS ; : and CC the DT C-5B NN , , KC-10 NN , , C-17 NN and CC a DT thousand CD tactical JJ aircraft NN to TO the DT Air NNP Force NNP . .
He PRP bought VBD $ $ 4 CD billion CD  in IN prepositioning JJ ships NNS and CC $ $ 7 CD billion CD  in IN ammo NN and CC equipment NN   to TO fill VB them PRP , , and CC parked VBD them PRP at IN a DT new JJ $ $ 6 CD billion CD  base NN at IN Diego NNP Garcia NNP in IN the DT middle NN of IN the DT Indian NNP Ocean NNP . .
He PRP dedicated VBD all PDT these DT new JJ forces NNS to TO the DT Persian NNP Gulf NNP . .
One CD night NN both DT Marshall NNP 's POS ghost NN and CC the DT shah NN 's POS ghost NN together RB caught VBN Cap NNP and CC threw VBD him PRP to TO the DT ground NN . .
Before IN they PRP let VB him PRP go VB he PRP added VBD a DT thousand CD bureaucrats NNS to TO the DT RDF NNP in IN Tampa NNP and CC renamed VBD it PRP Central NNP Command NNP . .
He PRP gave VBD those DT bureaucrats NNS charge NN of IN all DT naval JJ operations NNS in IN the DT Persian NNP Gulf NNP and CC Indian NNP Ocean NNP . .
Marshall NNP figured VBD  it PRP would MD be VB good JJ training NN for IN those DT soldiers NNS -- : someday RB maybe RB they PRP would MD get VB the DT whole JJ Navy NNP . .
They PRP had VBD fun NN  moving VBG the DT carriers NNS around RP , , but CC it PRP turned VBD out RP that IN they PRP had VBD forgotten VBN all DT about IN mine JJ sweepers NNS . .
But CC the DT shah NN still RB kept VBD  leaping VBG out RP at IN Cap NNP , , so RB Cap NNP bought VBD a DT hundred CD merchant NN ships NNS more JJR and CC $ $ 7 CD billion CD  of IN loading NN barges NNS , , ramps NNS , , etc. FW , , in IN order NN that IN those DT seven CD new JJ Army NNP divisions NNS and CC three CD Marine NNP brigades NNS could MD unload VB from IN all PDT those DT new JJ ships NNS and CC aircraft NN and CC go VB to TO war NN in IN the DT Zagros NNP mountains NNS . .
Then RB suddenly RB Ike NNP 's POS ghost NN came VBD  to TO visit VB and CC said VBD , , `` `` What WP the DT hell NN are VBP you PRP doing VBG   planning VBG for IN a DT land NN war NN in IN Asia NNP 12,000 CD miles NNS away RB ? .
We PRP 'd MD get VB our PRP$ asses NNS kicked VBN  . . '' ''
Lucky JJ for IN Cap NNP , , Ike NNP was VBD easygoing JJ and CC soon RB went VBD away RB , , while IN the DT shah NN -- : he PRP kept VBD  coming VBG back RB . .
So RB the DT U.S. NNP found VBD itself PRP  paying VBG about IN $ $ 2 CD billion CD  in IN baksheesh NN to TO various JJ Arab JJ potentates NNS for IN basing VBG rights NNS around IN the DT Indian NNP Ocean NNP . .
We PRP had VBD great JJ success NN in IN Somalia NNP . .
But CC then RB it PRP turned VBD out RP that IN President NNP Siad NNP Barrah NNP was VBD not RB at IN all DT a DT nice JJ person NN and CC the DT Navy NNP pointed VBD out RP that IN the DT base NN  he PRP promised VBD us PRP  in IN Berbera NNP had VBD silted VBN up RP about IN a DT hundred CD years NNS ago RB and CC anyway RB was VBD 1,244 CD miles NNS from IN the DT mouth NN of IN the DT Gulf NNP . .
-LRB- -LRB- But CC who WP  's VBZ counting VBG . . -RRB- -RRB-
Still RB , , Berbera NNP was VBD the DT best JJS  we PRP could MD get VB  , , so RB we PRP stay VBP in IN bed NN with IN President NNP Barrah NNP . .
All PDT these DT reports NNS about IN him PRP committing VBG genocide NN are VBP probably RB exaggerated JJ anyway RB . .
But CC would MD n't RB you PRP know VB , , now RB that IN we PRP are VBP spending VBG jillions NNS of IN dollars NNS , , and CC have VBP built VBN those DT new JJ divisions NNS and CC new JJ air NN wings NNS , , and CC have VBP positioned VBN all PDT these DT ships NNS and CC supplies NNS  to TO fight VB the DT Russians NNPS in IN Iran NNP , , the DT Russians NNPS seem VBP  to TO have VB lost VBN interest NN in IN the DT whole JJ subject NN . .
Meanwhile RB , , Congress NNP is VBZ cutting VBG huge JJ chunks NNS out IN of IN the DT rest NN of IN the DT defense NN budget NN . .
Predictably RB , , some DT Navy NNP guys NNS said VBD : : `` `` Do VB we PRP still RB need VB  to TO keep VB all DT 18 CD Army NNP divisions NNS on IN active JJ duty NN and CC all PDT those DT extra JJ land-based JJ aircraft NN without IN bases NNS and CC all PDT those DT Army NNP guys NNS playing VBG admiral NN in IN Tampa NNP ? .
Could MD n't RB we PRP save VB $ $ 20 CD billion CD  or CC $ $ 30 CD billion CD  a DT year NN by IN  shifting VBG that DT stuff NN to TO the DT reserves NNS ? .
And CC why WRB not RB  save VB the DT costs NNS of IN a DT thousand CD bureaucrats NNS by IN  abolishing VBG Central NNP Command NNP and CC putting VBG responsibility NN for IN Gulf NNP naval JJ operations NNS back RB where WRB it PRP belongs VBZ , , afloat RB with IN the DT task NN force NN commander NN in IN the DT Gulf NNP ? .
And CC where WRB were VBD  all RB our PRP$ handsomely RB paid VBN Indian NNP Ocean NNP allies NNS last JJ year NN when WRB our PRP$ convoys NNS were VBD being VBG attacked VBN   ? . '' ''
Questions NNS like JJ that DT really RB stir VBP up RP Marshall NNP 's POS ghost NN . .
He PRP appeared VBD late JJ one CD night NN in IN the DT bedroom NN of IN the DT new JJ defense NN secretary NN , , Dick NNP Cheney NNP . .
Marshall NNP came VBD  clanking VBG in RP like JJ Marley NNP 's POS ghost NN dragging VBG those DT chains NNS of IN brigades NNS and CC air NN wings NNS and CC links NNS with IN Arab JJ despots NNS . .
He PRP would MD n't RB leave VB until IN Mr. NNP Cheney NNP promised VBD  to TO do VB whatever WDT the DT Pentagon NNP systems NNS analysts NNS told VBD him PRP  . .
So RB next JJ day NN Mr. NNP Cheney NNP went VBD out RB and CC did VBD just RB that DT : : He PRP canceled VBD the DT 600-ship JJ Navy NNP and CC cut VBD back RB one CD carrier NN and CC 20 CD frigates NNS . .
Then RB he PRP canceled VBD production NN of IN the DT Navy NNP 's POS most RBS important JJ carrier NN aircraft NN , , the DT F-14 NN and CC the DT A-6 NN . .
On IN the DT other JJ hand NN , , Mr. NNP Cheney NNP retained VBD all PDT those DT new JJ land NN forces NNS . .
Marshall NNP 's POS ghost NN is VBZ satisfied JJ for IN now RB , , but CC he PRP 'll MD be VB back RB . .
What WP with IN Halloween NNP coming VBG and CC bigger JJR defense NN cuts NNS looming VBG , , more JJR and CC more JJR Pentagon NNP bureaucrats NNS are VBP crawling VBG under IN their PRP$ desks NNS . .
They PRP know VBP that IN they PRP can MD hold VB off RP the DT ghosts NNS only RB a DT little JJ while NN longer RB by IN  cutting VBG carriers NNS and CC ships NNS . .
Then RB the DT whole JJ thing NN will MD start VB  to TO collapse VB , , just RB as IN it PRP did VBD  in IN the DT 1970s NNS , , and CC the DT ghosts NNS and CC banshees NNS will MD be VB howling VBG through IN the DT place NN  turning VBG people NNS 's POS hair NN white JJ . .
 Gives VBZ me PRP the DT willies NNS  just RB thinking VBG about IN it PRP . .
Mr. NNP Lehman NNP , , a DT Reagan NNP Navy NNP secretary NN , , is VBZ a DT managing NN director NN of IN PaineWebber NNP . .
The DT metal NN and CC marble NN lobby NN of IN CenTrust NNP Bank NNP 's POS headquarters NN is VBZ grander JJR than IN your PRP$ average JJ savings NNS and CC loan NN . .
For IN one CD thing NN , , there EX is VBZ an DT old JJ master NN  on IN the DT wall NN -- : `` `` Samuel NNP Anointing VBG David NNP , , '' '' a DT big JJ baroque JJ canvas NN painted VBN  by IN Mattia NNP Preti NNP , , a DT 17th-century JJ Neapolitan NNP . .
At IN the DT moment NN , , however RB , , the DT painting NN is VBZ a DT nagging VBG reminder NN of IN the DT problems NNS that WDT  have VBP engulfed VBN CenTrust NNP and CC its PRP$ flamboyant JJ chairman NN and CC chief JJ executive NN , , David NNP L. NNP Paul NNP . .
In IN an DT international JJ buying NN spree NN that WDT  began VBD barely RB two CD years NNS ago RB , , Mr. NNP Paul NNP amassed VBD a DT collection NN of IN about IN 30 CD pre-18th-century JJ works NNS , , including VBG the DT Preti NNP , , at IN a DT total JJ cost NN of IN $ $ 28 CD million CD  . .
By IN midnight NN Oct. NNP 6 CD , , all DT of IN the DT paintings NNS were VBD supposed VBN  to TO have VB been VBN sold VBN  off RB , , under IN orders NNS from IN Florida NNP 's POS comptroller NN , , whose WP$ office NN  regulates VBZ the DT state NN 's POS S&Ls NNS . .
CenTrust NNP did VBD n't RB meet VB the DT deadline NN . .
The DT collection NN was VBD at IN the DT heart NN of IN a DT grandiose JJ plan NN  Mr. NNP Paul NNP had VBD  in IN which WDT the DT art NN was VBD  to TO do VB double JJ duty NN -- : as IN an DT investment NN for IN CenTrust NNP and CC as IN decoration NN for IN the DT S&L NNP 's POS new JJ office NN tower NN , , designed VBN  by IN I.M. NNP Pei NNP  . .
The DT rub NN is VBZ that IN the DT $ $ 28 CD million CD  was VBD plucked VBN  from IN the DT funds NNS of IN this DT federally RB insured JJ institution NN even RB as IN CenTrust NNP was VBD losing VBG money NN hand RB over IN fist RB . .
Mr. NNP Paul NNP had VBD no DT right NN  to TO buy VB art NN for IN the DT S&L NN in IN the DT first JJ place NN -- : it PRP is VBZ n't RB on IN the DT comptroller NN 's POS `` `` permissible JJ '' '' list NN -- : without IN  seeking VBG a DT special JJ dispensation NN , , which WDT he PRP did VBD not RB do VB  . .
Besides IN that DT , , some DT of IN the DT paintings NNS that WDT  were VBD  to TO grace VB the DT walls NNS of IN CenTrust NNP actually RB ended VBD up RP  hanging VBG in IN the DT chairman NN 's POS estate NN on IN La NNP Gorce NNP Isle NNP off IN Miami NNP Beach NNP . .
Last JJ spring NN , , the DT comptroller NN 's POS office NN called VBD a DT halt NN to TO Mr. NNP Paul NNP 's POS fling NN , ,  giving VBG him PRP six CD months NNS   to TO sell VB the DT paintings NNS  . .
The DT acquisitions NNS , , officials NNS said VBD   in IN a DT letter NN to TO Mr. NNP Paul NNP , , were VBD `` `` unsafe JJ , , unsound JJ and CC unauthorized JJ . . '' ''
So RB far RB , , Mr. NNP Paul NNP has VBZ unloaded VBN but CC three CD of IN his PRP$ masterpieces NNS , , he PRP wo MD n't RB say VB to TO whom WP . .
The DT comptroller NN 's POS office NN says VBZ  it PRP is VBZ `` `` monitoring VBG the DT situation NN . . '' ''
Though IN the DT agency NN could MD remove VB Mr. NNP Paul NNP , , it PRP has VBZ no DT current JJ intention NN  to TO do VB that DT . .
`` `` It PRP 's VBZ not RB like IN  selling VBG Chevrolets NNPS , , '' '' Mr. NNP Paul NNP says VBZ  , , as IN he PRP takes VBZ a DT drag NN on IN a DT goldbanded VBN St. NNP Moritz NNP cigarette NN . .
`` `` The DT last JJ six CD months NNS has VBZ established VBN the DT quality NN of IN the DT collection NN . .
There EX 's VBZ no DT fire NN sale NN here RB . . '' ''
Despite IN Mr. NNP Paul NNP 's POS characteristic JJ hauteur NN , , the DT 50-year-old JJ , , chain-smoking NN dynamo NN is VBZ finding VBG that IN  getting VBG CenTrust NNP -- : Florida NNP 's POS largest JJS thrift NN institution NN -- : out IN of IN its PRP$ riskiest JJS investments NNS is VBZ much RB tougher JJR than IN  getting VBG into IN them PRP had VBD been VBN  . .
Paintings NNS are VBP just RB part NN of IN the DT picture NN . .
Although IN Mr. NNP Paul NNP has VBZ pared VBN a DT $ $ 1.35 CD billion CD  junk-bond NN portfolio NN to TO less JJR than IN $ $ 900 CD million CD  since IN April NNP , , the DT high-yield JJ debt NN market NN has VBZ plummeted VBN . .
 Divesting VBG itself PRP of IN what WP  is VBZ left VBN  , , as IN  is VBZ required VBN  of IN all DT thrift NN institutions NNS by IN July NNP 1994 CD under IN the DT new JJ federal JJ S&L NN bailout NN law NN , , may MD well RB prove VB difficult JJ . .
And CC CenTrust NNP has VBZ other JJ problems NNS . .
Late RB last JJ week NN federal JJ regulators NNS ordered VBD the DT thrift NN institution NN  to TO stop VB  paying VBG dividends NNS on IN its PRP$ preferred JJ stock NN -- : a DT move NN that WDT  suggests VBZ deep JJ concern NN about IN an DT institution NN . .
Mr. NNP Paul NNP has VBZ a DT plan NN  to TO bring VB in RP $ $ 150 CD million CD  by IN  selling VBG off RP 63 CD of IN CenTrust NNP 's POS 71 CD branches NNS , , but CC it PRP has VBZ yet RB  to TO be VB approved VBN  by IN regulators NNS . .
It PRP  is VBZ Mr. NNP Paul NNP 's POS art NN venture NN , , however RB , , that WDT  has VBZ drawn VBN the DT most JJS attention NN from IN investors NNS and CC regulators NNS , , not RB to TO mention VB galleries NNS throughout IN the DT world NN . .
Embittered JJ shareholders NNS -LRB- -LRB- some DT of IN whom WP  are VBP suing VBG -RRB- -RRB- say VB  the DT chairman NN and CC his PRP$ collection NN epitomize VBP the DT excesses NNS of IN speculation NN that IN  set VBN off RP the DT national JJ S&L NN crisis NN . .
-LRB- -LRB- CenTrust NNP shares NNS have VBP fallen VBN sharply RB in IN price NN from IN a DT high JJ of IN $ $ 15.125 CD  in IN 1986 CD  to TO close VB yesterday NN at IN $ $ 2.875 CD  . . -RRB- -RRB-
Gallery NN directors NNS , , meanwhile RB , , say VBP  Mr. NNP Paul NNP and CC others NNS of IN his PRP$ ilk NN have VBP left VBN an DT indelible JJ mark NN on IN the DT art NN world NN -- : and CC not RB for IN the DT better RBR . .
Collectors NNS do VBP n't RB say VB `` `` It PRP 's VBZ a DT van NNP Gogh NNP '' '' anymore RB , , laments VBZ   Harry NNP Brooks NNP , , the DT president NN of IN Wildenstein NNP & CC Co. NNP , , a DT New NNP York NNP gallery NN . .
`` `` They PRP say VBP , , ` `` Johnny NNP Payson NNP got VBD $ $ 53 CD million CD  for IN his PRP$ , , so RB certainly RB $ $ 10 CD million CD  is VBZ n't RB too RB much JJ for IN mine NN . . ' ''
The DT great JJ collectors NNS  we PRP depended VBD on IN  , , such JJ as IN Paul NNP Mellon NNP or CC Norton NNP Simon NNP , , have VBP stopped VBN  buying VBG , , and CC the DT new JJ buyers NNS are VBP brilliant JJ men NNS who WP  made VBD money NN in IN the DT stock NN market NN or CC in IN takeovers NNS and CC rushed VBD into IN collecting VBG ... : . . '' ''
Mr. NNP Payson NNP , , an DT art NN dealer NN and CC collector NN , , sold VBD Vincent NNP van NNP Gogh NNP 's POS `` `` Irises NNS '' '' at IN a DT Sotheby NNP 's POS auction NN in IN November NNP 1987 CD to TO Australian JJ businessman NN Alan NNP Bond NNP . .
-LRB- -LRB- Trouble NN is VBZ , , Mr. NNP Bond NNP has VBZ yet RB  to TO pay VB up RB , , and CC until IN he PRP does VBZ , , Sotheby NNP 's POS has VBZ the DT painting NN under IN lock NN and CC key NN . . -RRB- -RRB-
When WRB Mr. NNP Paul NNP moved VBD in RP on IN the DT art NN market NN  , , he PRP let VBD it PRP be VB known VBN that IN virtually RB no DT piece NN was VBD too RB costly JJ   to TO be VB considered VBN  by IN CenTrust NNP . .
He PRP established VBD his PRP$ reputation NN as IN a DT freespender NN in IN January NNP last JJ year NN at IN Sotheby NNP 's POS auction NN of IN the DT Linda NNP and CC Gerald NNP Guterman NNP collection NN in IN New NNP York NNP . .
There RB , , on IN one CD of IN his PRP$ first JJ shopping NN trips NNS , , Mr. NNP Paul NNP picked VBD up RP several JJ paintings NNS at IN stunning JJ prices NNS . .
He PRP paid VBD $ $ 2.2 CD million CD  , , for IN instance NN , , for IN a DT still JJ life NN by IN Jan NNP Jansz. NNP den NN Uyl NNP that WDT  was VBD expected VBN  to TO fetch VB perhaps RB $ $ 700,000 CD  . .
The DT price NN paid VBN  was VBD a DT record NN for IN the DT artist NN . .
-LRB- -LRB- Some DT 64 CD % NN of IN items NNS offered VBN  at IN the DT Guterman NNP auction NN were VBD sold VBN  , , at IN an DT average JJ price NN of IN $ $ 343,333 CD  . .
The DT rest NN were VBD withdrawn VBN  for IN lack NN of IN acceptable JJ bids NNS . . -RRB- -RRB-
Afterward RB , , Mr. NNP Paul NNP is VBZ said VBD by IN Mr. NNP Guterman NNP  to TO have VB phoned VBN Mr. NNP Guterman NNP , , the DT New NNP York NNP developer NN selling VBG the DT collection NN , , and CC gloated VBD . .
`` `` He PRP says VBZ  he PRP ` `` stole VBD them PRP , , ' '' '' '' recalls VBZ  Mr. NNP Guterman NNP . .
`` `` And CC he PRP tells VBZ me PRP , , ` `` If IN you PRP want VBP  to TO see VB your PRP$ paintings NNS , , you PRP 'll MD have VB  to TO come VB to TO my PRP$ house NN in IN Florida NNP . . ' '' '' ''
Mr. NNP Paul NNP denies VBZ phoning VBG and CC gloating VBG . .
`` `` It PRP 's VBZ just RB not RB true JJ , , '' '' he PRP says VBZ  . .
Mr. NNP Paul NNP quickly RB became VBD more RBR aggressive JJ in IN his PRP$ collecting NN , , with IN the DT help NN of IN George NNP Wachter NNP , , a DT Sotheby NNP 's POS expert NN in IN old JJ masters NNS whom WP he PRP met VBD  at IN an DT exhibition NN of IN the DT Guterman NNP items NNS . .
Mr. NNP Wachter NNP , , who WP  became VBD his PRP$ principal JJ adviser NN , , searched VBD galleries NNS in IN London NNP , , Paris NNP and CC Monaco NNP . .
And CC , , according VBG to TO one CD dealer NN , , Mr. NNP Wachter NNP had VBD a DT penchant NN for IN  introducing VBG Mr. NNP Paul NNP with IN the DT phrase NN : : `` `` He PRP can MD buy VB anything NN . . '' ''
Nicholas NNP Hall NNP , , the DT president NN of IN the DT Colnaghi NNP U.S.A. NNP Ltd. NNP gallery NN in IN New NNP York NNP , , sold VBD Mr. NNP Paul NNP `` `` Abraham NNP and CC Sarah NNP in IN the DT Wilderness NN '' '' by IN Giovanni NNP Battista NNP Tiepolo NNP . .
Mr. NNP Hall NNP says VBZ  Mr. NNP Paul NNP `` `` was VBD known VBN  to TO spend VB a DT lot NN of IN money NN . .
People NNS were VBD interested JJ in IN  seeing VBG him PRP , , but CC it PRP was VBD recognized VBN  that IN the DT route NN was VBD through IN Sotheby NNP 's POS and CC particularly RB George NNP Wachter NNP . . '' ''
Mr. NNP Paul NNP thus RB developed VBD a DT close JJ , , symbiotic JJ relationship NN with IN Sotheby NNP 's POS . .
Mr. NNP Paul NNP was VBD eager JJ  to TO assemble VB a DT collection NN for IN the DT headquarters NN  CenTrust NNP has VBZ been VBN moving VBG into IN  for IN the DT greater JJR part NN of IN a DT year NN . .
Sotheby NNP 's POS , , the DT auction NN house NN founded VBN  in IN London NNP 1744 CD and CC now RB under IN the DT umbrella NN of IN Sotheby NNP 's POS Holdings NNPS Inc. NNP , , was VBD hoping VBG  to TO stir VB up RP interest NN in IN old JJ masters NNS as IN it PRP strove VBD  to TO build VB its PRP$ U.S. NNP business NN . .
European JJ dealers NNS continued VBD  to TO dominate VB the DT action NN in IN old JJ masters NNS , , which WDT Sotheby NNP 's POS North NNP America NNP had VBD lately RB been VBN touting VBG  in IN this DT country NN . .
For IN several JJ months NNS , , there EX was VBD optimism NN all DT around RB . .
Last JJ October NNP , , Mr. NNP Paul NNP paid VBD out RP $ $ 12 CD million CD  of IN CenTrust NNP 's POS cash NN -- : plus CC a DT $ $ 1.2 CD million CD  commission NN -- : for IN `` `` Portrait NN of IN a DT Man NN as IN Mars NNP . . '' ''
The DT painting NN , , attributed VBN  to TO Flemish JJ artist NN Peter NNP Paul NNP Rubens NNP , , was VBD purchased VBN  privately RB through IN Sotheby NNP 's POS , , not RB at IN auction NN . .
In IN March NNP 1989 CD , , just RB 15 CD months NNS into IN his PRP$ campaign NN , , Mr. NNP Paul NNP was VBD named VBN  by IN Art NNP & CC Antiques NNPS magazine NN as IN one CD of IN the DT top JJ 100 CD individual JJ collectors NNS in IN the DT U.S. NNP . .
`` ``  An DT unknown JJ quantity NN to TO most JJS of IN the DT art NN world NN , , Paul NNP is VBZ no DT stranger NN to TO lavish JJ spending NN , , '' '' the DT magazine NN said VBD  , ,  noting VBG that IN he PRP does VBZ n't RB stop VB at IN paint NN on IN canvas NN but CC also RB spends VBZ big JJ on IN art NN  you PRP can MD eat VB  . .
`` `` He PRP recently RB bid VBD $ $ 30,000 CD  at IN a DT Paris NNP charity NN auction NN for IN a DT dinner NN cooked VBN  by IN six CD of IN the DT world NN 's POS great JJ chefs NNS , , but CC the DT final JJ party NN cost VB closer RBR to TO $ $ 100,000 CD  . . '' ''
-LRB- -LRB- Mr. NNP Paul NNP says VBZ  it PRP was VBD n't RB that IN high JJ . . -RRB- -RRB-
The DT art NN collection NN might MD have VB come VBN  to TO rival VB the DT Medicis NNPS ' POS had VBD the DT Florida NNP comptroller NN 's POS office NN not RB got VBD wind NN of IN Mr. NNP Paul NNP 's POS aesthetic JJ adventure NN . .
In IN its PRP$ letter NN to TO him PRP , , dated VBN  March NNP 2 CD and CC shared VBN  with IN reporters NNS , , Alex NNP Hager NNP , , the DT chief NN of IN the DT thrift-institution NN bureau NN in IN the DT comptroller NN 's POS office NN , , expressed VBD puzzlement NN that IN the DT S&L NN could MD be VB so RB profligate JJ when WRB it PRP had VBD reported VBN losses NNS of IN more JJR than IN $ $ 13 CD million CD  in IN its PRP$ two CD preceding VBG quarters NNS  . .
The DT state NN gave VBD CenTrust NNP 30 CD days NNS   to TO sell VB the DT Rubens NNP  . .
The DT comptroller NN 's POS office NN eventually RB extended VBD the DT deadline NN to TO six CD months NNS but CC broadened VBD its PRP$ demands NNS , ,  ordering VBG that IN the DT `` `` book NN value NN of IN the DT collection NN -LCB- -LRB- be VB -RCB- -RRB- reduced VBN to TO zero CD . . '' ''
In IN other JJ words NNS : :  Get VB rid JJ of IN all PDT the DT pictures NNS . .
The DT state NN obliquely RB noted VBD that IN unsafe JJ banking NN practices NNS are VBP grounds NNS for IN  removing VBG an DT officer NN or CC director NN and CC closed VBD with IN the DT admonition NN to TO Mr. NNP Paul NNP : : `` ``  Govern VB yourself PRP accordingly RB . . '' ''
The DT state NN agency NN was VBD particularly RB vexed VBN  to TO learn VB that IN the DT Rubens NNP and CC a DT half-dozen NN other JJ paintings NNS listed VBN  among IN the DT bank NN 's POS `` `` furniture NN and CC fixtures NNS , , '' '' were VBD actually RB hanging VBG in IN the DT chairman NN 's POS house NN . .
Mr. NNP Paul NNP says VBZ that IN at IN one CD point NN he PRP did VBD indeed RB have VB eight CD or CC nine CD of IN the DT paintings NNS at IN home NN and CC that IN the DT rest NN were VBD in IN storage NN at IN Sotheby NNP 's POS . .
He PRP explains VBZ that IN he PRP was VBD `` `` merely RB storing VBG the DT paintings NNS at IN home NN -- : with IN some DT display NN -- : because IN of IN the DT special JJ dehumidified JJ environment NN '' '' required VBN  for IN their PRP$ safekeeping NN , , until IN CenTrust NNP 's POS new JJ building NN was VBD ready JJ for IN them PRP . .
Still RB , , the DT incident NN was VBD embarrassing JJ . .
It PRP came VBD on IN the DT heels NNS of IN a DT number NN of IN local JJ newspaper NN articles NNS suggesting VBG that IN Mr. NNP Paul NNP has VBZ benefited VBN handsomely RB from IN his PRP$ association NN with IN CenTrust NNP . .
For IN instance NN , , he PRP got VBD a DT $ $ 3 CD million CD  loan NN  from IN the DT S&L NN , , negotiated VBN  at IN a DT below-market JJ rate NN . .
He PRP owns VBZ 43 CD % NN of IN CenTrust NNP 's POS shares NNS . .
 Adding VBG to TO Mr. NNP Paul NNP 's POS problems NNS , , dealers NNS -LRB- -LRB- some DT with IN vested JJ interests NNS -RRB- -RRB- insist VBP that IN he PRP , , relying VBG rather RB too RB heavily RB on IN Sotheby NNP 's POS advice NN , , paid VBN much RB too RB much RB for IN several JJ pieces NNS in IN the DT CenTrust NNP collection NN . .
The DT $ $ 12 CD million CD  lavished VBN  on IN the DT Rubens NNP , , for IN example NN , , was VBD a DT record NN price NN for IN the DT artist NN and CC maybe RB twice RB its PRP$ value NN , , given VBN a DT dispute NN among IN scholars NNS about IN its PRP$ provenance NN . .
David NNP Tunick NNP , , the DT president NN of IN David NNP Tunick NNP Inc. NNP , , a DT New NNP York NNP gallery NN , , says VBZ  scholars NNS question VBP the DT authenticity NN of IN the DT Rubens NNP . .
It PRP may MD have VB been VBN painted VBN  instead RB by IN a DT Rubens NNP associate NN . .
`` `` The DT feeling NN among IN many JJ experts NNS on IN the DT commercial JJ side NN is VBZ that IN the DT price NN paid VBN  at IN the DT time NN was VBD excessive JJ in IN any DT event NN , , '' '' Mr. NNP Tunick NNP says VBZ  . .
`` `` It PRP sounds VBZ like IN with IN the DT Rubens NNP he PRP got VBD absolutely RB taken VBN  to TO the DT cleaners NNS . . '' ''
Victor NNP Wiener NNP , , the DT executive NN director NN of IN the DT Appraisers NNPS Association NNP of IN America NNP , , agrees VBZ that IN Mr. NNP Paul NNP paid VBD very RB dearly RB for IN the DT Rubens NNP and CC adds VBZ that IN  getting VBG rid JJ of IN it PRP any DT time NN soon RB for IN a DT similar JJ sum NN would MD be VB quite RB a DT feat NN . .
`` `` It PRP  's VBZ not RB beyond IN credibility NN  the DT Rubens NNP will MD someday RB be VB worth JJ $ $ 12 CD million CD  , , but CC whether IN it PRP could MD be VB sold VBN  for IN that DT amount NN tomorrow NN remains VBZ  to TO be VB seen VBN  . . '' ''
Still RB , , predicting NN is VBZ tricky JJ . .
`` `` I PRP 'm VBP forever RB dumbfounded JJ  by IN what WP I PRP see VBP  making VBG these DT high JJ prices NNS . . '' ''
Jonathan NNP H. NNP Kress NNP , , the DT son NN of IN the DT painting NN 's POS former JJ owner NN , , Mrs. NNP Rush NNP Kress NNP , , dismisses VBZ the DT price NN talk NN as IN `` `` sour JJ grapes NNS . . '' ''
Dealers NNS contemptuous JJ of IN the DT purchase NN price NN , , he PRP says VBZ   , , were VBD themselves PRP interested JJ in IN  buying VBG the DT Rubens NNP but CC lost VBN out RB . .
Mr. NNP Paul NNP , , for IN his PRP$ part NN , , defends VBZ the DT Rubens NNP price NN , ,  saying VBG  a DT lot NN of IN the DT experts NNS have VBP never RB seen VBN the DT thing NN itself PRP . .
`` `` Most JJS of IN them PRP were VBD n't RB even RB born VBN the DT last JJ time NN  the DT painting NN was VBD displayed VBN  publicly RB  , , '' '' he PRP says VBZ  . .
Art NN prices NNS are VBP skyrocketing VBG , , but CC a DT good JJ deal NN of IN legerdemain NN is VBZ involved VBN  in IN  compiling VBG statistics NNS on IN sales NNS . .
Salomon NNP Brothers NNPS Inc. NNP , , the DT investment-banking NN firm NN , , in IN its PRP$ annual JJ tally NN of IN investment NN returns NNS , , reported VBD that IN old JJ masters NNS appreciated VBD 51 CD % NN  in IN the DT year NN ended VBN June NNP 1 CD , , the DT greatest JJS return NN of IN any DT of IN 13 CD assets NNS  it PRP tracked VBD  . .
-LRB- -LRB- Impressionist JJ and CC modern JJ paintings NNS , , not RB tracked VBN  by IN Salomon NNP , , are VBP ranked VBN  even RB higher RBR at IN 74 CD % NN by IN Sotheby NNP 's POS . . -RRB- -RRB-
Salomon NNP , , moreover RB , , gets VBZ its PRP$ data NNS on IN art NN appreciation NN from IN Sotheby NNP 's POS , , whose WP$ prices NNS  go VBP up RP with IN clients NNS like IN Mr. NNP Paul NNP in IN its PRP$ thrall NN . .
The DT percentages NNS omit VBP from IN consideration NN the DT many JJ paintings NNS that WDT  go VBP  begging VBG at IN auction NN . .
Art NN indexes NNS track VBP winners NNS , , not RB losers NNS . .
But CC art NN that WDT  has VBZ fallen VBN sharply RB in IN value NN is VBZ rarely RB put VBN  up IN for IN sale NN . .
Also RB , , at IN any DT of IN Sotheby NNP 's POS auctions NNS of IN old JJ masters NNS , , roughly RB one-third NN to TO one-fifth NN of IN what WP  is VBZ offered VBN  does VBZ n't RB sell VB at IN any DT price NN . .
It PRP 's VBZ not RB that IN there EX are VBP n't RB any DT bids NNS , , but CC the DT bids NNS do VBP n't RB meet VB the DT minimum JJ `` `` reserve NN '' '' prices NNS set VBN  by IN the DT sellers NNS . .
In IN January NNP , , the DT Preti NNP painting NN that WDT now RB  hangs VBZ at IN CenTrust NNP was VBD expected VBN  to TO bring VB no DT more RBR than IN $ $ 700,000 CD  at IN auction NN until IN Mr. NNP Paul NNP came VBD along RB with IN his PRP$ $ $ 1.15 CD million CD  . .
Mr. NNP Hall NNP of IN the DT Colnaghi NNP gallery NN says VBZ  $ $ 1.15 CD million CD  `` `` would MD have VB been VBN an DT impossible JJ price NN  for IN anyone NN to TO ask VB  for IN a DT Preti NNP four CD years NNS ago RB . . '' ''
But CC from IN his PRP$ vantage NN point NN , , it PRP is VBZ n't RB that IN Mr. NNP Paul NNP , , a DT customer NN of IN his PRP$ too RB , , overpaid VBD for IN the DT work NN , , `` `` a DT gargantuan JJ painting NN by IN an DT artist NN who WP  is VBZ not RB a DT household JJ word NN . . '' ''
-LRB- -LRB- The DT painting NN is VBZ 10 CD feet NNS wide JJ , , seven CD feet NNS high JJ . . -RRB- -RRB-
Rather RB , , `` `` It PRP just RB shows VBZ  things NNS have VBP changed VBN . . '' ''
Mr. NNP Paul NNP boasts VBZ that IN he PRP spotted VBD bargains NNS in IN old JJ masters NNS just RB before IN they PRP took VBD an DT upward JJ turn NN . .
`` `` They PRP went VBD up RB 51 CD % NN last JJ year NN , , and CC they PRP 'll MD do VB it PRP again RB this DT year NN , , '' '' he PRP declares VBZ  . .
`` `` They PRP were VBD a DT sleeper NN . .
Everybody NN was VBD out IN  buying VBG Monets NNPS . . '' ''
Sotheby NNP 's POS vice NN president NN Diana NNP Levitt NNP says VBZ  the DT auction NN house NN has VBZ been VBN `` `` assisting VBG '' '' Mr. NNP Paul NNP in IN  selling VBG the DT paintings NNS . .
And CC while IN Sotheby NNP 's POS chief JJ rivals NNS in IN the DT art NN world NN , , private JJ art NN dealers NNS , , `` `` wo MD n't RB be VB happy JJ  to TO hear VB it PRP , , '' '' she PRP adds VBZ   , , `` `` a DT number NN of IN -LCB- -LRB- the DT artworks NNS -RCB- -RRB- have VBP already RB been VBN sold VBN   , , and CC at IN a DT substantial JJ profit NN . . '' ''
Mr. NNP Paul NNP claims VBZ  to TO have VB sold VBN three CD paintings NNS , , at IN more JJR than IN a DT 10 CD % NN profit NN . .
That DT is VBZ n't RB 51 CD % NN , , and CC the DT claim NN is VBZ n't RB documented VBN  . .
He PRP furthermore RB denies VBZ that IN he PRP relied VBD too RB heavily RB on IN Sotheby NNP 's POS or CC Mr. NNP Wachter NNP . .
Mr. NNP Paul NNP says VBZ  he PRP had VBD not RB one CD  but CC four CD  advisers NNS and CC that IN he PRP never RB bid VBD impulsively RB . .
After IN all DT , , he PRP had VBD the DT counsel NN of IN `` `` curators NNS from IN the DT most RBS reputable JJ museums NNS in IN the DT world NN . . '' ''
He PRP says VBZ  he PRP expects VBZ  to TO sell VB the DT collection NN -- : including VBG the DT controversial JJ Rubens NNP -- : `` `` carefully RB and CC prudently RB , , just RB as IN it PRP was VBD put VBN  together RB . . '' ''
But CC in IN art-world NN parlance NN , , Mr. NNP Paul NNP 's POS holdings NNS are VBP `` `` burnt JJ . . '' ''
That DT is VBZ , , he PRP is VBZ being VBG compelled VBN  to TO put VB them PRP on IN the DT market NN too RB soon RB , , and CC has VBZ already RB gotten VBN offers NNS that WDT  are VBP less JJR than IN he PRP paid VBD  for IN some DT of IN the DT art NN works NNS . .
`` `` After IN a DT few JJ years NNS , , you PRP can MD argue VB  there EX has VBZ been VBN natural JJ appreciation NN , , '' '' says VBZ  Susan NNP Theran NNP , , the DT publisher NN of IN Leonard NN 's POS Annual NNP Price NNP Index NNP of IN Art NNP Auctions NNPS . .
But CC quick JJ turnover NN in IN artwork NN is VBZ `` `` like IN  pawning VBG your PRP$ jewelry NN -- : you PRP end VB up RP with IN 50 CD % NN . .
People NNS hold VBP out RB and CC try VBP  to TO get VB a DT bargain NN . . '' ''
Sotheby NNP 's POS defends VBZ itself PRP and CC Mr. NNP Paul NNP in IN the DT matter NN . .
Mr. NNP Wachter NNP says VBZ  Mr. NNP Paul NNP was VBD a DT quick JJ study NN who WP  worked VBD intensely RB and CC bought VBD the DT best JJS pictures NNS available JJ at IN the DT moment NN . .
`` `` On IN occasion NN , , he PRP paid VBD a DT high JJ price NN , , '' '' Mr. NNP Wachter NNP concedes VBZ   , , but CC he PRP says VBZ  those DT who WP  bid VBD less RBR and CC dropped VBD out RB were VBD dealers NNS who WP  would MD then RB have VB marked VBN up RP the DT paintings NNS  to TO resell VB them PRP at IN a DT profit NN to TO collectors NNS . .
Naomi NNP Bernhard NNP Levinson NNP , , a DT fine-arts NNS appraiser NN at IN Bernhard NNP Associates NNPS in IN San NNP Francisco NNP , , considers VBZ it PRP  `` `` definite JJ conflict NN of IN interest NN for IN an DT auction NN house NN to TO both DT advise VB a DT client NN on IN purchases NNS and CC to TO set VB price NN estimates NNS on IN the DT paintings NNS   to TO be VB purchased VBN  . . '' ''
Sotheby NNP 's POS , , she PRP says VBZ   , , is VBZ `` `` wearing VBG both DT hats NNS . . '' ''
`` `` I PRP ca MD n't RB see VB why WRB there EX would MD be VB a DT conflict NN of IN interest NN  , , '' '' says VBZ  Sotheby NNP 's POS Ms. NNP Levitt NNP . .
`` `` Estimates NNS are VBP based VBN  on IN the DT previous JJ price NN of IN similar JJ works NNS sold VBN  at IN auction NN and CC current JJ market NN conditions NNS , , and CC are VBP not RB affected JJ by IN any DT knowledge NN of IN who WP the DT potential JJ buyer NN could MD be VB  . . '' ''
Frequently RB , , clients NNS express VBP interest NN in IN paintings NNS but CC do VBP n't RB end VB up RP  bidding NN , , she PRP adds VBZ   , , `` `` so RB we PRP do VBP n't RB know VB who WP the DT potential JJ buyer NN will MD be VB  . . '' ''
Mr. NNP Paul NNP , , in IN  selling VBG off RP his PRP$ paintings NNS , , is VBZ seeking VBG at IN least JJS a DT 15 CD % NN return NN on IN the DT bank NN 's POS investment NN , , so IN as IN  to TO prove VB that IN the DT venture NN was VBD sound JJ . .
Mr. NNP Paul NNP says VBZ that IN he PRP has VBZ feelers NNS out IN over IN much JJ of IN the DT globe NN and CC that IN potential JJ buyers NNS from IN as RB far RB away RB as IN Japan NNP and CC Italy NNP have VBP examined VBN the DT collection NN . .
Because IN of IN the DT pressure NN  on IN CenTrust NNP  to TO sell VB , , dealers NNS and CC collectors NNS have VBP been VBN trying VBG  to TO get VB the DT paintings NNS at IN bargain-basement JJ prices NNS . .
But CC so RB far RB , , Mr. NNP Paul NNP and CC his PRP$ advisers NNS are VBP holding VBG  fast RB . .
One CD dealer NN , , Martin NNP Zimet NNP of IN French NNP & CC Co. NNP in IN New NNP York NNP , , says VBZ  he PRP `` `` would MD have VB loved VBD  to TO buy VB '' '' a DT Jan NNP Davids NNP de FW Heem NNP painting NN from IN the DT bank NN . .
`` `` I PRP tried VBD  to TO steal VB the DT picture NN -- : to TO buy VB it PRP attractively RB -- : and CC -LCB- -LRB- Sotheby NNP 's POS -RCB- -RRB- would MD n't RB do VB it PRP . .
They PRP were VBD protecting VBG his PRP$ interests NNS . . '' ''
Meanwhile RB , , Mr. NNP Paul NNP and CC CenTrust NNP executives NNS are VBP getting VBG squeamish JJ about IN opulence NN . .
Mr. NNP Paul NNP has VBZ been VBN characterized VBN  as IN `` `` the DT Great NNP Gatsby NNP or CC something NN , , '' '' complains VBZ   Karen NNP E. NNP Brinkman NNP , , an DT executive NN vice NN president NN of IN CenTrust NNP . .
The DT media NNS , , she PRP says VBZ   , , have VB distorted VBN his PRP$ personal JJ life NN . .
Mr. NNP Paul NNP nods VBZ in IN agreement NN . .
`` `` I PRP do VBP n't RB think VB  I PRP have VBP a DT life NN style NN that WDT  is VBZ , , frankly RB , , so RB flamboyant JJ , , '' '' he PRP says VBZ  . .
But CC at IN just RB that DT moment NN , , he PRP is VBZ interrupted VBN  in IN his PRP$ office NN by IN a DT servant NN in IN tuxedo NN who WP  pours VBZ coffee NN from IN silver NN into IN a DT cup NN of IN china NN and CC dabs VBZ the DT brim NN with IN linen NN . .
Mr. NNP Paul NNP says VBZ , ,  yes UH , , the DT ceiling NN in IN his PRP$ executive NN suite NN is VBZ gold-leaf NN inlay NN . .
The DT offices NNS are VBP done VBN  in IN hardwood NN and CC oriental JJ rugs NNS , , leatherbound NN books NNS and CC , , of IN course NN , , a DT $ $ 12 CD million CD  Rubens NNP . .
But CC he PRP implores VBZ that IN the DT splendor NN be VB played VBN  down RP . .
`` ``  Do VBP n't RB say VB  it PRP 's VBZ a DT gold JJ ceiling NN . .
 Just RB say VB  the DT offices NNS are VBP tastefully RB appointed JJ , , '' '' he PRP says VBZ  . .
`` `` Otherwise RB , , the DT regulators NNS will MD take VB it PRP for IN decadence NN , , and CC nowadays RB everything NN 's VBZ got VBD  to TO be VB pristine JJ . . '' ''
Figures NNS do VBP n't RB include VB taxes NNS or CC transaction NN costs NNS . .
Companies NNS listed VBN  below RB reported VBD quarterly JJ profit NN substantially RB different JJ from IN the DT average NN of IN analysts NNS ' POS estimates NNS . .
The DT companies NNS are VBP followed VBN  by IN at IN least JJS three CD analysts NNS , , and CC had VBD a DT minimum JJ five-cent JJ change NN in IN actual JJ earnings NNS per IN share NN . .
Estimated VBN and CC actual JJ results NNS involving VBG losses NNS are VBP omitted VBN  . .
The DT percent NN difference NN compares VBZ actual JJ profit NN with IN the DT 30-day JJ estimate NN where WRB at IN least JJS three CD analysts NNS have VBP issues NNS forecasts NNS in IN the DT past JJ 30 CD days NNS  . .
Otherwise RB , , actual JJ profit NN is VBZ compared VBN  with IN the DT 300-day JJ estimate NN . .
-LCB- -LRB- During IN its PRP$ centennial NN year NN , , The DT Wall NNP Street NNP Journal NNP will MD report VB events NNS of IN the DT past JJ century NN that DT  stand NN as IN milestones NNS of IN American JJ business NN history NN . . -RCB- -RRB-
CREATIVE JJ ACCOUNTING NN , , mostly RB by IN conglomerates NNS , , forced VBD CPAs NNS to TO change VB their PRP$ way NN of IN  setting VBG standards NNS   to TO be VB followed VBN  by IN corporations NNS reporting VBG financial JJ results NNS , , standards NNS that WDT  had VBD become VBN all RB too RB flexible JJ . .
The DT new JJ Financial NNP Accounting NNP Standards NNPS Board NNP -LRB- -LRB- FASB NNP -RRB- -RRB- was VBD created VBN  in IN 1972 CD  to TO replace VB the DT Accounting NNP Principles NNPS Board NNP of IN the DT American NNP Institute NNP of IN Certified NNP Public NNP Accountants NNPS . .
All DT of IN the DT former JJ board NN 's POS members NNS were VBD CPAs NNS , ,  provoking VBG conflict-of-interest NN criticism NN because IN they PRP were VBD writing VBG rules NNS while IN  handling VBG clients NNS ' POS books NNS at IN the DT same JJ time NN . .
The DT new JJ board NN 's POS seven-member JJ structure NN kept VBD four CD CPAs NNS , , but CC the DT others NNS were VBD from IN industry NN and CC academia NN . .
Francis NNP M. NNP Wheat NNP , , a DT former JJ Securities NNPS and CC Exchange NNP Commission NNP member NN , , headed VBD the DT panel NN that WDT  had VBD studied VBN the DT issues NNS for IN a DT year NN and CC proposed VBD the DT FASB NNP on IN March NNP 30 CD , , 1972 CD . .
The DT former JJ board NN had VBD produced VBN `` `` 21 CD opinions NNS and CC 1,000 CD critics NNS '' '' in IN its PRP$ 12-year JJ life NN , , its PRP$ chairman NN had VBD conceded VBN   . .
The DT climate NN  was VBD right JJ for IN the DT new JJ FASB NNP . .
In IN the DT late JJ 1960s NNS some DT CPAs NNS failed VBD  to TO correct VB such JJ abuses NNS as IN clients NNS picking VBG permissive JJ rules NNS that IN  hyped VBD earnings NNS and CC stock NN prices NNS . .
And CC in IN November NNP 1970 CD Congress NNP had VBD passed VBN a DT special JJ act NN  to TO overrule VB one CD board NN rule NN . .
Also RB , , James NNP Needham NNP , , an DT SEC NNP commissioner NN , , in IN April NNP 1972 CD had VBD warned VBN that IN the DT industry NN might MD face VB a DT `` `` federal JJ agency NN writing VBG accounting NN rules NNS '' '' if IN they PRP rejected VBD the DT FASB NNP idea NN . .
Keepers NNS of IN the DT books NNS , , dubbed VBN  `` `` figure NN filberts NNS , , '' '' loathed VBD the DT threat NN . .
The DT FASB NNP had VBD its PRP$ initial JJ meeting NN on IN March NNP 28 CD , , 1973 CD . .
On IN Dec. NNP 13 CD , , 1973 CD , , it PRP issued VBD its PRP$ first JJ rule NN ; : it PRP required VBD companies NNS to TO disclose VB foreign JJ currency NN translations NNS in IN U.S. NNP dollars NNS . .
The DT FASB NNP since IN then RB has VBZ issued VBN 102 CD rules NNS , , and CC some DT still RB rile VBP industry NN . .
Since IN late RB 1987 CD , , for IN example NN , , it PRP has VBZ put VBN off RP a DT rule NN dealing VBG with IN deferred JJ income NN taxes NNS because RB of IN the DT continuing VBG controversy NN over IN the DT issue NN . .
Amcast NNP Industrial NNP Corp. NNP said VBD  it PRP plans VBZ  to TO repurchase VBD 500,000 CD shares NNS , , or CC about IN 7 CD % NN of IN its PRP$ shares NNS outstanding JJ , , in IN open JJ market NN transactions NNS . .
The DT metal NN products NNS concern NN currently RB has VBZ 7.2 CD million CD common JJ shares NNS outstanding JJ . .
Amcast NNP previously RB had VBD said VBN  it PRP planned VBD  to TO repurchase VB shares NNS , , but CC did VBD n't RB disclose VB when WRB or CC how WRB many JJ shares NNS it PRP intended VBD  to TO buy VB  back RB . .
The DT company NN named VBN Dillon NNP Read NNP & CC Co. NNP as IN its PRP$ exclusive JJ agent NN for IN the DT stock NN buy-back NN program NN . .
A DT seat NN on IN the DT Chicago NNP Board NNP of IN Trade NNP was VBD sold VBN  for IN $ $ 390,000 CD  , , down RB $ $ 5,000 CD  from IN the DT previous JJ sale NN last JJ Tuesday NNP . .
Seats NNS currently RB are VBP quoted VBN  at IN $ $ 353,500 CD  bid NN  , , $ $ 405,000 CD  asked VBN  . .
The DT record NN price NN for IN a DT full JJ membership NN on IN the DT exchange NN is VBZ $ $ 550,000 CD  , ,  set VBN  Aug. NNP 31 CD , , 1987 CD . .
An DT associate NN member NN seat NN was VBD sold VBN  for IN $ $ 228,000 CD  , , up IN $ $ 8,000 CD  from IN the DT previous JJ sale NN Oct. NNP 4 CD . .
Associate JJ member NN seats NNS currently RB are VBP quoted VBN  at IN $ $ 225,000 CD  bid NN  , , $ $ 256,000 CD  asked VBN  . .
The DT record NN price NN for IN associate JJ membership NN is VBZ $ $ 275,000 CD  , ,  set VBN  Aug. NNP 30 CD , , 1988 CD . .
CAE NNP Industries NNPS Ltd. NNP said VBD  its PRP$ Link NN Flight NN Simulation NN division NN was VBD awarded VBN  a DT contract NN  by IN the DT U.S. NNP Army NNP for IN two CD helicopter NN simulators NNS , , which WDT the DT company NN valued VBN  at IN as RB much JJ as IN 37 CD million CD Canadian JJ dollars NNS -LRB- -LRB- US$ $ 31.5 CD million CD  -RRB- -RRB- . .
CAE NNP said VBD  the DT fixed VBN price NN for IN the DT first JJ of IN the DT AH-64 NN Apache NNP combat NN mission NN simulators NNS is VBZ C$ $ 19 CD million CD  . .
It PRP is VBZ scheduled VBN  for IN delivery NN in IN late JJ 1991 CD . .
The DT price NN of IN the DT second JJ simulator NN ranges VBZ between IN C$ $ 16.4 CD million CD  and CC C$ $ 18 CD million CD  , , CAE NNP said VBD   , ,  depending VBG on IN when WRB the DT Army NNP exercises VBZ its PRP$ option NN  . .
CAE NNP is VBZ a DT Toronto-based JJ maker NN of IN commercial JJ and CC military JJ aircraft NN simulators NNS and CC training NN equipment NN . .
Helionetics NNP Inc. NNP said VBD  it PRP agreed VBD  to TO team VB with IN a DT unit NN of IN Minneapolis-based JJ Honeywell NNP Inc. NNP  to TO provide VB power NN amplifiers NNS for IN a DT new JJ military JJ sonar NN system NN being NN proposed VBN  by IN Honeywell NNP . .
Total JJ value NN of IN the DT contract NN could MD be VB $ $ 100 CD million CD  , , Helionetics NNP said VBD   , , and CC work VB on IN the DT project NN would MD be VB about IN evenly RB divided VBN . .
As IN  previously RB reported VBN , , Helionetics NNP emerged VBD from IN Chapter NN 11 CD bankruptcy-law NN protection NN in IN February NNP . .
This DT Los NNP Angeles NNP company NN and CC its PRP$ Union NNP Federal NNP Savings NNPS Bank NNP subsidiary NN said VBD  more JJR than IN 99 CD % NN of IN their PRP$ 7 CD 1\/4 CD % NN convertible JJ subordinated JJ debentures NNS due JJ 2011 CD were VBD tendered VBN  for IN conversion NN into IN UnionFed NNP common JJ stock NN . .
The DT conversion NN increased VBD total JJ equity NN capital NN by IN about IN $ $ 38.5 CD million CD  to TO a DT total NN of IN $ $ 156.8 CD million CD  . .
Union NNP Federal NNP , , a DT federally RB insured JJ savings NNS bank NN , , has VBZ $ $ 2.4 CD billion CD  in IN assets NNS . .
David NNP D. NNP Lung NNP was VBD appointed VBN  president NN and CC chief NN operating VBG officer NN of IN this DT maker NN of IN building NN materials NNS for IN manufactured JJ homes NNS and CC recreational JJ vehicles NNS . .
As IN president NN , , Mr. NNP Lung NNP , , 42 CD years NNS old JJ , , succeeds VBZ his PRP$ father NN , , Mervin NNP D. NNP Lung NNP , , 66 CD , , who WP  founded VBD the DT company NN in IN 1959 CD . .
Mervin NNP Lung NNP remains VBZ chairman NN and CC chief JJ executive NN officer NN . .
David NNP Lung NNP has VBZ been VBN with IN Patrick NNP since IN 1970 CD , , and CC has VBZ served VBN as IN vice NN president NN for IN administration NN and CC purchasing NN since IN 1987 CD . .
General NNP Dynamics NNPS Services NNP Co. NNP , , a DT unit NN of IN General NNP Dynamics NNPS Corp. NNP , , won VBD a DT $ $ 48.2 CD million CD  Army NNP contract NN  to TO establish VB maintenance NN facilities NNS for IN tracked JJ vehicles NNS in IN Pakistan NNP . .
Grumman NNP Corp. NNP was VBD given VBN  a DT $ $ 15 CD million CD  Navy NNP contract NN for IN aircraft-electronics NN improvements NNS . .
Hughes NNP Aircraft NNP Co. NNP , , a DT unit NN of IN General NNP Motors NNPS Corp. NNP , , got VBD a DT $ $ 10.3 CD million CD  Air NNP Force NNP contract NN for IN airborne-radar NN equipment NN . .
Reynolds NNP Metals NNPS Co. NNP said VBD  third-quarter JJ net JJ income NN dropped VBD nearly RB 10 CD % NN to TO $ $ 123.7 CD million CD  , , or CC $ $ 2.10 CD  a DT share NN , , from IN $ $ 137.2 CD million CD  , , or CC $ $ 2.56 CD  a DT share NN , , a DT year NN earlier RB . .
The DT latest JJS earnings NNS reflect VBP an DT increase NN of IN about IN 5.5 CD million CD in IN common JJ shares NNS outstanding JJ . .
Revenue NN rose VBD 3 CD % NN to TO $ $ 1.52 CD billion CD  from IN $ $ 1.48 CD billion CD  . .
Reynolds NNP is VBZ the DT third JJ big JJ aluminum NN company NN since IN Friday NNP to TO report VB disappointing JJ earnings NNS . .
The DT No. NN 1 CD domestic JJ aluminum NN producer NN , , Aluminum NNP Co. NNP of IN America NNP , , Friday NNP said VBD  its PRP$ earnings NNS fell VBD 3.2 CD % NN to TO $ $ 219 CD million CD  , , or CC $ $ 2.46 CD  a DT share NN . .
And CC Alcan NNP Aluminium NNP Ltd. NNP yesterday NN reported VBD  net JJ income NN slid VBD 30 CD % NN to TO $ $ 180 CD million CD  , , or CC 77 CD cents NNS a DT share NN , , from IN $ $ 258 CD million CD  , , or CC $ $ 1.07 CD  a DT share NN . .
Analysts NNS on IN average NN had VBD been VBN expecting VBG about IN $ $ 2.70 CD  for IN Alcoa NNP and CC $ $ 1 CD  for IN Alcan NNP . .
`` `` It PRP 's VBZ a DT good JJ indication NN that DT level NN of IN profitability NN has VBZ peaked VBN for IN the DT industry NN , , '' '' says VBZ  Vahid NNP Fathi NNP , , metals NNS analyst NN with IN Prescott NNP , , Ball NNP & CC Turben NNP Inc. NNP , , who WP  had VBD estimated VBN  Reynolds NNP would MD earn VB about IN $ $ 2.35 CD  a DT share NN . .
The DT nation NN 's POS No. NN 2 CD aluminum NN company NN said VBD  earnings NNS were VBD hurt VBN  by IN lower JJR prices NNS for IN certain JJ fabricated VBN aluminum NN products NNS , , which WDT typically RB  follow VBP price NN fluctuations NNS of IN primary JJ ingots NNS . .
The DT base JJ metal NN price NN has VBZ dropped VBN 30.3 CD % NN from IN a DT year NN earlier RB to TO 78 CD cents NNS a DT pound NN . .
Much RB of IN the DT price NN decline NN has VBZ been VBN blamed VBN  on IN a DT slowing VBG economy NN and CC the DT third JJ quarter NN is VBZ typically RB the DT industry NN 's POS slowest JJS period NN . .
But CC William NNP O. NNP Bourke NNP , , chairman NN and CC chief JJ executive NN officer NN , , said VBD  the DT ingot NN price NN `` `` appears VBZ  to TO have VB bottomed VBN out RB . . '' ''
He PRP said VBD  shipments NNS are VBP continuing VBG at IN a DT `` `` healthy JJ '' '' pace NN and CC  the DT company NN has VBZ no DT excess JJ inventory NN . .
Aluminum NN shipments NNS of IN 329,600 CD metric JJ tons NNS were VBD nearly RB equal JJ to TO the DT year-earlier JJ period NN , , the DT company NN said VBD   . .
Nevertheless RB , , the DT company NN said VBD that IN in IN the DT latest JJS quarter NN there RB were VBD increased VBN material NN and CC labor NN costs NNS , , including VBG a DT new JJ employee NN profit-sharing NN plan NN . .
In IN composite JJ trading NN on IN the DT New NNP York NNP Stock NNP Exchange NNP , , Reynolds NNP closed VBD at IN $ $ 55.375 CD  , , up RB $ $ 1.25 CD  . .
No DT strikeout NN , , but CC certainly RB no DT home NN run NN . .
That DT 's VBZ how WRB the DT stock-picking NN game NN is VBZ shaping VBG up RP for IN the DT months NNS ahead RB  , , according VBG to TO money NN managers NNS and CC a DT few JJ brokers NNS . .
Yesterday NN 's POS 88-point JJ recovery NN from IN Friday NNP 's POS megadrop NN in IN the DT Dow NNP Jones NNP industrials NNS had VBD many JJ brokerage NN houses NNS proclaiming VBG that IN stocks NNS are VBP a DT good JJ bargain NN again RB . .
But CC quite RB a DT few JJ money NN managers NNS are VBP n't RB buying VBG it PRP . .
Weakening VBG corporate JJ earnings NNS , , they PRP say VBP   , , are VBP no DT prescription NN for IN a DT bull NN market NN . .
`` `` The DT stock NN market NN ai VBP n't RB going VBG  to TO do VB much RB of IN anything NN '' '' for IN a DT while NN , , says VBZ   John NNP Neff NNP of IN Wellington NNP Management NNP , , who WP  runs VBZ the DT $ $ 8.3 CD billion CD  Windsor NNP Fund NNP . .
He PRP suspects VBZ that IN Friday NNP 's POS market NN decline NN may MD have VB a DT second JJ leg NN , , perhaps RB a DT 10 CD % NN to TO 15 CD % NN drop NN later RB on RB . .
Mr. NNP Neff NNP says VBZ  the DT stock NN market NN has VBZ lost VBN some DT powerful JJ driving NN forces NNS , , namely RB earnings NNS growth NN and CC the DT `` `` LBO NNP sweepstakes NNS '' '' -- : buy-out NN fever NN that IN  induced VBN investors NNS to TO bid VB up RP whole RP groups NNS of IN stocks NNS , , such JJ as IN media NNS and CC airlines NNS . .
After IN  sitting VBG with IN 20 CD % NN of IN his PRP$ fund NN in IN cash NN before IN Friday NNP 's POS sell-off NN , , Mr. NNP Neff NNP says VBZ  he PRP bought VBD `` `` a DT narrow JJ list NN of IN stocks NNS '' '' yesterday NN . .
With IN flat JJ corporate JJ profits NNS on IN the DT horizon NN for IN 1990 CD , , money NN managers NNS say VBP  price-earnings NNS multiples NNS that WDT  look VBP cheap JJ today NN might MD go VB on RP  being VBG cheap JJ for IN a DT long JJ time NN . .
`` `` This DT is VBZ not RB a DT grossly RB overvalued VBN market NN , , but CC it PRP 's VBZ not RB cheap JJ either RB , , '' '' says VBZ  George NNP Collins NNP , , president NN of IN the DT mutual JJ fund NN company NN T. NNP Rowe NNP Price NNP Associates NNPS in IN Baltimore NNP . .
According VBG to TO Institutional NNP Brokers NNPS Estimate NNP System NNP , , Wall NNP Street NNP market NN strategists NNS see VBP only RB a DT 2.4 CD % NN jump NN in IN company NN profits NNS in IN 1990 CD -- : unlike IN in IN 1987 CD , , when WRB profits NNS a DT year NN out RB looked VBN good JJ  -LRB- -LRB- they PRP did VBD soar VB 36 CD % NN in IN 1988 CD -RRB- -RRB- . .
Bulls NNS say VBP  the DT market NN is VBZ an DT incredible JJ bargain NN , ,  priced VBN at IN only RB about IN 12 CD times NNS estimated VBN 1989 CD earnings NNS for IN stocks NNS in IN the DT Standard NNP & CC Poor NNP 's POS 500 CD index NN . .
Before IN the DT 1987 CD crash NN , , the DT P\/E NNP was VBD more JJR than IN 20 CD . .
The DT common JJ view NN , , says VBZ   Abby NNP Cohen NNP , , strategist NN for IN Drexel NNP Burnham NNP Lambert NNP , , is VBZ that IN there EX will MD be VB `` `` mild JJ economic JJ growth NN , , modest JJ profit NN expansion NN , , and CC things NNS are VBP going VBG  to TO be VB hunky-dory JJ . .
Our PRP$ view NN is VBZ that IN we PRP may MD see VB a DT profit NN decline NN . . '' ''
Some DT think VBP  investors NNS should MD sell VB into IN rallies NNS . .
The DT market NN `` `` is VBZ going VBG  to TO wind VB down RB , , '' '' says VBZ   Gerald NNP W. NNP Perritt NNP , , a DT Chicago NNP money NN manager NN . .
`` `` Things NNS are VBP a DT little RB less RBR overpriced JJ '' '' after IN Friday NNP 's POS jolt NN in IN the DT market NN . .
He PRP expects VBZ stocks NNS to TO decline VB an DT additional JJ 5 CD % NN to TO 30 CD % NN , , with IN the DT Dow NNP perhaps RB bottoming VBG out RP between IN 2000 CD and CC 2100 CD `` `` between IN now RB and CC June NNP . . '' ''
After IN Friday NNP 's POS decline NN , , Mr. NNP Perritt NNP 's POS firm NN ran VBD statistical JJ tests NNS on IN 100 CD high-quality NN stocks NNS , ,  using VBG old-fashioned JJ value NN criteria NNS devised VBN  by IN Benjamin NNP Graham NNP , , an DT analyst NN and CC author NN in IN the DT 1930s NNS and CC 1940s NNS who WP  is VBZ widely RB considered JJ  to TO be VB the DT father NN of IN modern JJ securities NNS analysis NN . .
He PRP found VBD 85 CD still RB overvalued VBN  and CC 15 CD fairly RB valued VBN  . .
Nicholas NNP Parks NNP , , a DT New NNP York NNP money NN manager NN , , expects VBZ the DT market NN to TO decline VB about IN 15 CD % NN . .
`` `` I PRP 've VBP been VBN two-thirds NNS in IN cash NN since IN July NNP , , and CC I PRP continue VBP  to TO think VB that IN  having VBG a DT defensive JJ position NN is VBZ appropriate JJ , , '' '' he PRP says VBZ  . .
Companies NNS that WDT  piled VBD on RP debt NN in IN leveraged JJ buy-outs NNS during IN the DT past JJ two CD years NNS `` `` will MD continue VB  to TO surface VB as IN business NN problems NNS . . '' ''
`` `` Generalizations NNS about IN value NN are VBP n't RB useful JJ , , '' '' says VBZ  New NNP York NNP money NN manager NN John NNP LeFrere NNP of IN Delta NNP Capital NNP Management NNP . .
For IN instance NN , , he PRP says VBZ   , , International NNP Business NNP Machines NNPS and CC Unisys NNP might MD look VB cheap JJ , , but CC investors NNS might MD continue VB  to TO do VB better RB with IN stocks NNS like IN Walt NNP Disney NNP , , Procter NNP & CC Gamble NNP and CC Coca-Cola NNP , , strong JJ performers NNS in IN recent JJ years NNS . .
Money NN manager NN Robert NNP Ross NNP , , head NN of IN Duncan NNP Ross NNP Associates NNPS Ltd. NNP in IN Vancouver NNP , , British NNP Columbia NNP , , says VBZ  stocks NNS would MD have VB  to TO fall VB 15 CD % NN to TO 20 CD % NN before IN they PRP are VBP competitive JJ with IN less RBR risky JJ investment NN alternatives NNS . .
Fredric NNP Russell NNP , , a DT money NN manager NN in IN Tulsa NNP , , Okla. NNP , , says VBZ  Friday NNP 's POS cave-in NN `` `` is VBZ going VBG  to TO have VB more JJR of IN a DT permanent JJ impact NN on IN the DT psyche NN of IN many JJ investors NNS than IN Wall NNP Street NNP would MD want VB  to TO admit VB . . '' ''
There EX are VBP still RB bulls NNS out IN there RB . .
`` `` I PRP still RB think VBP  we PRP will MD have VB a DT 3000 CD Dow NNP , , whether IN it PRP 's VBZ six CD months NNS  or CC 12 CD months NNS  from IN now RB I PRP do VBP n't RB know VB  , , '' '' says VBZ  David NNP Dreman NNP , , managing NN partner NN of IN Dreman NNP Value NNP Management NNP in IN New NNP York NNP . .
`` `` We PRP 're VBP doing VBG a DT little JJ buying NN '' '' in IN some DT stocks NNS `` `` that WDT  have VBP really RB been VBN smashed VBN  down RB . . '' ''
Many JJ brokerage NN house NN officials NNS also RB are VBP optimistic JJ . .
Yesterday NN , , Goldman NNP Sachs NNP , , Merrill NNP Lynch NNP and CC Dean NNP Witter NNP all DT increased VBD the DT proportion NN of IN assets NNS  they PRP recommend VBP  investors NNS commit VBP  to TO stocks NNS . .
Dean NNP Witter NNP now RB recommends VBZ 85 CD % NN , , Goldman NNP 65 CD % NN and CC Merrill NNP Lynch NNP 50 CD % NN . .
Some DT investors NNS say VBP  Friday NNP 's POS sell-off NN was VBD a DT good JJ thing NN , , because IN it PRP deflated VBD a DT lot NN of IN crazy JJ takeover NN speculation NN . .
`` `` It PRP was VBD a DT healthy JJ cleansing NN , , '' '' says VBZ  Michael NNP Holland NNP , , who WP  runs VBZ Salomon NNP Brothers NNPS Asset NNP Management NNP in IN New NNP York NNP . .
From IN here RB out RB , , these DT investors NNS see VBP a DT return NN to TO old-fashioned JJ investing NN , , based VBN  on IN a DT company NN 's POS ability NN  to TO show VB profit NN growth NN . .
`` `` The DT fundamentals NNS are VBP pretty RB strong JJ , , '' '' Mr. NNP Dreman NNP says VBZ  . .
`` `` I PRP do VBP n't RB see VB this DT as IN a DT bear NN market NN at IN all DT . .
It PRP 's VBZ a DT recognition NN that IN there EX was VBD much RB too RB much JJ fluff NN in IN the DT LBO NNP market NN . . '' ''
Friday NNP 's POS big JJ fall NN was VBD `` `` just RB a DT blunder NN by IN the DT stock NN market NN , , '' '' says VBZ   John NNP Connolly NNP , , chief JJ strategist NN for IN Dean NNP Witter NNP . .
`` `` It PRP was VBD an DT overreaction NN to TO an DT event NN -LCB- -LRB- the DT failure NN  of IN a DT management NN and CC union NN group NN  to TO get VB bank NN financing NN for IN a DT takeover NN of IN UAL NNP -RCB- -RRB- that WDT  does VBZ n't RB mean VB that IN much JJ to TO lots NNS of IN stocks NNS . . '' ''
Many JJ investors NNS have VBP nagging JJ worries NNS , , however RB . .
Newspapers NNS are VBP full JJ of IN headlines NNS about IN companies NNS defaulting VBG on IN their PRP$ debts NNS and CC banks NNS writing VBG off RP real JJ estate NN loans NNS . .
That DT hurts VBZ investors NNS ' POS confidence NN in IN the DT economy NN and CC stocks NNS . .
Not RB even RB all PDT the DT brokerage NN firms NNS see VBP clear JJ sailing NN ahead RB . .
`` `` Disappointing JJ profits NNS are VBP likely JJ  to TO get VB worse RBR in IN the DT next JJ two CD quarters NNS , , '' '' says VBZ  Mary NNP Farrell NNP , , a DT market NN strategist NN at IN PaineWebber NNP . .
She PRP thinks VBZ  the DT market NN could MD drop VB about IN 10 CD % NN in IN the DT next JJ few JJ months NNS , , then RB recover VBP and CC go VBP higher JJR . .
Companies NNS with IN steady JJ earnings NNS growth NN could MD do VB well RB , , she PRP says VBZ   , , while IN others NNS with IN high JJ debt NN or CC poor JJ earnings NNS could MD see VB their PRP$ shares NNS decline VBP far RB more JJR than IN 10 CD % NN . .
The DT turmoil NN on IN Wall NNP Street NNP may MD benefit VB some DT retailers NNS attempting VBG  to TO lead VB leveraged JJ buy-outs NNS of IN their PRP$ specialty NN and CC department-store NN chains NNS , , investment NN bankers NNS and CC retailers NNS said VBD   . .
Managers NNS at IN five CD chains NNS have VBP said VBN in IN recent JJ weeks NNS that IN they PRP intend VBP  to TO bid VB for IN their PRP$ companies NNS . .
The DT chains NNS include VBP Bloomingdale NNP 's POS , , owned VBN  by IN Campeau NNP Corp. NNP , , Toronto NNP ; : Saks NNP Fifth NNP Avenue NNP and CC Marshall NNP Field NNP 's POS , , owned VBN  by IN B.A.T NNP Industries NNPS PLC NNP , , London NNP ; : and CC B. NNP Altman NNP & CC Co. NNP and CC Sakowitz NNP Inc. NNP , , owned VBN  by IN Hooker NNP Corp. NNP , , which WDT  is VBZ now RB being VBG managed VBN  by IN a DT court-appointed JJ provisional JJ liquidator NN . .
Hooker NNP is VBZ based VBN  in IN Sydney NNP , , Australia NNP . .
The DT combination NN of IN so RB many JJ chains NNS available JJ for IN sale NN , , the DT recent JJ failures NNS of IN such JJ retailing NN LBO NN 's POS as RB Miller NNP & CC Rhoads NNP Inc. NNP and CC declining VBG investor NN confidence NN will MD drive VB down RP prices NNS , , retailing NN observers NNS said VBD   . .
`` `` The DT pricing NN will MD become VB more RBR realistic JJ , , which WDT  should MD help VB management NN , , '' '' said VBD  Bruce NNP Rosenthal NNP , , a DT New NNP York NNP investment NN banker NN with IN Nathan NNP S. NNP Jonas NNP & CC Co NNP . .
`` `` Investors NNS are VBP n't RB going VBG  to TO be VB throwing VBG money NN at IN any DT of IN the DT proposed VBN LBOs NNS , , but CC  doing VBG deals NNS on IN the DT basis NN of IN ridiculous JJ assumptions NNS never RB made VBN sense NN , , either RB . . '' ''
Earlier RB this DT year NN , , bankers NNS and CC other JJ investors NNS were VBD willing JJ  to TO provide VB financing NN because IN they PRP assumed VBD  there EX would MD be VB major JJ gains NNS in IN both DT profitability NN and CC sales NNS , , Mr. NNP Rosenthal NNP added VBD   . .
Those DT days NNS are VBP over RB now RB , , he PRP believes VBZ   . .
`` `` Competition NN from IN third JJ parties NNS who WP  have VBP cash NN and CC are VBP prepared JJ  to TO buy VB has VBZ always RB existed VBN and CC will MD continue VB , , '' '' added VBD  Mr. NNP Rosenthal NNP . .
`` `` But CC when WRB prices NNS were VBD crazy JJ  , , it PRP was VBD even RB harder JJR  to TO do VB an DT LBO NN . .
Bankers NNS believed VBD in IN the DT greater-fool JJR theory NN that WDT  says VBZ  somebody NN else JJ is VBZ always RB willing JJ  to TO pay VB more RBR . .
This DT is VBZ no DT longer RB true JJ today NN . . '' ''
At IN Saks NNP Fifth NNP Avenue NNP , , Paul NNP Leblang NNP , , senior JJ vice NN president NN , , marketing NN , , agreed VBD that IN lower JJR prices NNS will MD help VB his PRP$ management NN team NN in IN their PRP$ proposed VBN LBO NN . .
`` ``  Having VBG  to TO take VB on RP less JJR debt NN would MD certainly RB be VB an DT advantage NN , , '' '' said VBD  Mr. NNP Leblang NNP . .
`` `` It PRP would MD also RB help VB us PRP in IN our PRP$ search NN for IN equity NN partners NNS . .
 To TO make VB an DT LBO NN work NN , , now RB we PRP are VBP going VBG  to TO need VB more RBR than IN just RB junk NN bonds NNS . .
'' '' None NN believe VBP  the DT proposed VBN management NN LBOs NNS will MD be VB easy JJ  to TO complete VB  , , especially RB at IN B. NNP Altman NNP & CC Co. NNP , , which WDT  is VBZ under IN Chapter NN 11 CD bankruptcy NN protection NN . .
Not RB only RB could MD the DT Wall NNP Street NNP gyrations NNS damp VBP Christmas NNP sales NNS if IN consumers NNS lose VBP confidence NN in IN the DT economy NN , , but CC potential JJ junk-bond NN buyers NNS are VBP sure JJ  to TO demand VB even RB stronger JJR covenants NNS and CC greater JJR management NN equity NN participation NN . .
Further RB , , many JJ institutions NNS today NN holding VBG troubled JJ retailers NNS ' POS debt NN securities NNS will MD be VB reticent JJ  to TO consider VB additional JJ retailing NN investments NNS . .
`` `` It PRP 's VBZ called VBN bad JJ money NN driving VBG out RP good JJ money NN , , '' '' said VBD  one CD retailing NN observer NN . .
`` `` Institutions NNS that WDT  usually RB buy VBP retail JJ paper NN have VBP  to TO be VB more RBR concerned JJ . . '' ''
However RB , , the DT lower JJR prices NNS  these DT retail JJ chains NNS are VBP now RB expected VBN  to TO bring VB  should MD make VB it PRP easier RB for IN managers NNS to TO raise VB the DT necessary JJ capital NN and CC pay VB back RP the DT resulting VBG debt NN . .
In IN addition NN , , the DT fall NN selling VBG season NN has VBZ generally RB been VBN a DT good JJ one NN , , especially RB for IN those DT retailers NNS dependent JJ on IN apparel NN sales NNS for IN the DT majority NN of IN their PRP$ revenues NNS . .
`` `` What WP  's VBZ encouraging VBG about IN this DT is VBZ that IN retail JJ chains NNS will MD be VB sold VBN  on IN the DT basis NN of IN their PRP$ sales NNS and CC earnings NNS , , not RB liquidation NN values NNS , , '' '' said VBD  Joseph NNP E. NNP Brooks NNP , , chairman NN and CC chief JJ executive NN officer NN of IN Ann NNP Taylor NNP Inc. NNP , , a DT specialty NN chain NN . .
`` `` Retailers NNS who WP  had VBD good JJ track NN records NNS of IN  producing VBG profits NNS will MD have VB a DT better JJR chance NN  to TO buy VB back RP their PRP$ companies NNS . . '' ''
Still RB , , most JJS retailing NN observers NNS expect VBP that IN all PDT the DT proposed VBN retailing NN LBOs NNS will MD depend VB partly RB on IN the DT sale NN of IN junk NN bonds NNS , , a DT market NN already RB in IN tumult NN , , in IN part NN because IN of IN concerns NNS associated VBN  with IN bonds NNS issued VBN  by IN the DT Federated NNP and CC Allied NNP units NNS of IN Campeau NNP . .
`` `` Prices NNS for IN retail JJ chains NNS are VBP lower JJR today NN than IN they PRP were VBD  last JJ week NN , , which WDT  will MD help VB management NN , , '' '' said VBD  Gilbert NNP Harrison NNP , , chairman NN of IN Financo NNP Inc. NNP , , an DT investment-banking NN firm NN specializing VBG in IN retailing NN acquisitions NNS . .
`` `` But CC the DT hurdle NN of IN financing NN still RB has VBZ  to TO be VB resolved VBN  . .
Potential JJ bondholders NNS will MD either RB look VBP for IN greater JJR equity NN participation NN on IN behalf NN of IN management NN , , or CC insist VBP  the DT equity NN component NN of IN the DT deals NNS be VB substantially RB greater JJR than IN in IN the DT past NN . .
Sony NNP Corp. NNP won VBD a DT pretrial JJ order NN blocking VBG U.S. NNP sales NNS of IN Justin NNP Products NNPS Inc. NNP 's POS `` `` My PRP$ Own JJ '' '' line NN of IN portable JJ audio JJ players NNS for IN children NNS . .
Judge NNP John NNP E. NNP Sprizzo NNP issued VBD the DT order NN in IN Manhattan NNP federal JJ court NN , , where WRB Sony NNP has VBZ accused VBN the DT tiny JJ company NN of IN  illegally RB knocking VBG off RP the DT `` `` My PRP$ First JJ Sony NNP '' '' line NN  . .
The DT judge NN held VBD that IN the DT combination NN of IN colors NNS used VBN  for IN the DT Sony NNP products NNS is VBZ distinctive JJ and CC subject NN to TO protection NN under IN New NNP York NNP state NN law NN , , rather RB than IN federal JJ law NN . .
The DT legal JJ fight NN was VBD the DT subject NN of IN a DT Wall NNP Street NNP Journal NNP story NN yesterday NN . .
Justin NNP 's POS attorney NN , , Charles NNP E. NNP Baxley NNP , , said VBD  Justin NNP would MD ask VB an DT appeals NNS court NN  to TO set VB aside RP the DT order NN temporarily RB , , pending VBG an DT expedited VBN appeal NN . .
He PRP also RB repeated VBD Justin NNP 's POS denial NN of IN Sony NNP 's POS charges NNS . .
`` `` Their PRP$ likelihood NN of IN  reversing VBG us PRP is VBZ very RB slim JJ , , '' '' said VBD  Lewis NNP H. NNP Eslinger NNP , , Sony NNP 's POS attorney NN , , who WP  said VBD  he PRP doubts VBZ  Justin NNP will MD go VB ahead RB with IN a DT trial NN . .
CONTINENTAL NNP MORTGAGE NNP & CC EQUITY NNP TRUST NNP said VBD  it PRP will MD resume VB dividend NN payments NNS with IN a DT 10-cent-a-share JJ payout NN on IN Nov. NNP 6 CD to TO shares NNS of IN record NN Oct. NNP 25 CD . .
The DT Dallas NNP real JJ estate NN investment NN trust NN last RB paid VBD a DT dividend NN on IN Dec. NNP 31 CD , , 1987 CD , , when WRB shareholders NNS received VBD $ $ 1 CD  a DT share NN  . .
Despite IN continuing VBG troubles NNS with IN problem NN assets NNS and CC nonperforming VBG loans NNS , , the DT trust NN said VBD  it PRP expects VBZ  to TO be VB able JJ  to TO maintain VB or CC increase VB the DT rate NN of IN distributions NNS because IN of IN operations NNS of IN joint-venture NN properties NNS . .
A DT federal JJ appeals NNS court NN struck VBD down RP a DT natural-gas NN regulation NN that WDT  had VBD prevented VBN pipeline NN companies NNS from IN  passing VBG to TO customers NNS part NN of IN $ $ 1 CD billion CD  in IN costs NNS from IN controversial JJ `` `` take-or-pay JJ '' '' contracts NNS . .
The DT court NN , , in IN a DT 3-0 CD ruling NN , , threw VBD out RP a DT deadline NN set VBN  by IN the DT Federal NNP Energy NNP Regulatory NNP Commission NNP for IN  settling VBG old JJ contract NN disputes NNS over IN gas NN that IN the DT pipeline NN companies NNS reserved VBN  but CC did VBD n't RB use VB  . .
FERC NNP 's POS regulation NN had VBD given VBN pipelines NNS until IN March NNP 31 CD , , 1989 CD , ,  to TO pass VB on RP to TO customers NNS as RB much RB as IN 50 CD % NN of IN the DT costs NNS of IN  buying VBG out RP their PRP$ broken JJ contracts NNS , , which WDT  were VBD made VBN  with IN producers NNS when WRB gas NN prices NNS were VBD high JJ and CC supplies NNS short JJ . .
A DT majority NN of IN old JJ contracts NNS were VBD renegotiated VBN  by IN the DT deadline NN and CC settled VBD  at IN steep JJ discounts NNS . .
But CC pipeline NN companies NNS estimate VBP  they PRP still RB face VBP $ $ 2.4 CD billion CD  in IN liabilities NNS from IN unresolved JJ disputes NNS , , including VBG $ $ 1 CD billion CD   they PRP fear VBP  they PRP wo MD n't RB be VB able JJ  to TO pass VB on RP to TO customers NNS . .
According VBG to TO industry NN lawyers NNS , , the DT ruling NN gives VBZ pipeline NN companies NNS an DT important JJ second JJ chance NN  to TO resolve VB remaining VBG disputes NNS and CC take VB advantage NN of IN the DT cost-sharing NN mechanism NN . .
The DT court NN left VBD open RP whether IN FERC NNP could MD reimpose VB a DT new JJ deadline NN later RB . .
The DT court NN , , agreeing VBG with IN pipeline NN companies NNS , , found VBD  the DT March NNP 31 CD deadline NN was VBD `` `` arbitrary JJ and CC capricious JJ '' '' and CC `` `` highly RB prejudicial JJ to TO the DT bargaining NN power NN of IN pipelines NNS '' '' that WDT  were VBD forced VBN  to TO negotiate VB settlement NN of IN the DT old JJ take-or-pay JJ contracts NNS  to TO meet VB the DT deadline NN . .
A DT report NN last JJ month NN by IN the DT Interstate NNP Natural NNP Gas NNP Association NNP of IN America NNP found VBD that IN pipelines NNS ' POS settlement NN costs NNS had VBD jumped VBN in IN the DT three CD months NNS before IN the DT deadline NN to TO 39 CD cents NNS on IN the DT dollar NN , , from IN 22 CD cents NNS on IN the DT dollar NN in IN 1988 CD . .
The DT court NN ordered VBD FERC NNP to TO justify VB within IN 60 CD days NNS not RB only RB its PRP$ cost-sharing NN deadline NN , , but CC other JJ major JJ elements NNS of IN its PRP$ proposed VBN regulation NN for IN  introducing VBG more JJR competition NN into IN natural-gas NN transportation NN . .
The DT court NN also RB questioned VBD a DT crediting NN mechanism NN that WDT  could MD be VB used VBN   to TO resolve VB take-or-pay JJ liabilities NNS . .
The DT complex JJ regulation NN , , known VBN  in IN the DT industry NN as IN Order NN 500 CD , , has VBZ been VBN hotly RB contested JJ  by IN all DT sides NNS , , including VBG natural-gas NN producers NNS , , pipelines NNS , , local JJ distribution NN companies NNS and CC consumers NNS . .
The DT court NN 's POS decision NN would MD allow VB FERC NNP to TO change VB some DT of IN its PRP$ provisions NNS , , but CC ensures VBZ  it PRP will MD be VB reviewed VBN  again RB quickly RB by IN the DT court NN . .
MEDUSA NNP Corp. NNP said VBD  it PRP voluntarily RB prepaid VB $ $ 7 CD million CD  on IN its PRP$ original JJ $ $ 75 CD million CD  term NN loan NN , ,  bringing VBG the DT total JJ debt NN reduction NN for IN the DT year NN to TO $ $ 18 CD million CD  . .
After IN the DT payment NN , , the DT Cleveland NNP company NN owes VBZ $ $ 57 CD million CD  on IN the DT loan NN . .
The DT cement NN producer NN said VBD  the DT payment NN was VBD made VBN  from IN excess JJ cash NN flow NN . .
NATIONAL NNP INCOME NNP REALTY NNP TRUST NNP said VBD  it PRP will MD resume VB dividend NN payments NNS with IN a DT 12-cent-a-share JJ dividend NN   to TO be VB paid VBN  Nov. NNP 6 CD to TO shares NNS of IN record NN Oct. NNP 25 CD . .
The DT mortgage NN and CC equity NN real JJ estate NN investment NN trust NN last RB paid VBD a DT dividend NN on IN Aug. NNP 1 CD , , 1988 CD , , when WRB holders NNS received VBD 75 CD cents NNS a DT share NN  . .
Despite IN continuing VBG troubles NNS with IN problem NN properties NNS and CC nonperforming VBG loans NNS , , the DT Dallas NNP trust NN said VBD  it PRP has VBZ rebuilt VBN reserves NNS , , abandoned VBN properties NNS with IN little JJ potential NN and CC experienced VBD improved VBN operating NN results NNS from IN joint JJ ventures NNS . .
MLX NNP Corp. NNP said VBD  it PRP reached VBD a DT preliminary JJ agreement NN  with IN senior JJ lenders NNS to TO its PRP$ refrigeration NN and CC air-conditioning NN group NN  to TO restructure VB the DT $ $ 188.5 CD million CD  of IN credit NN facilities NNS  the DT lenders NNS provide VBP  to TO the DT group NN . .
MLX NNP , , which WDT also RB  makes VBZ aircraft NN and CC heavy-duty JJ truck NN parts NNS , , said VBD  the DT debt NN was VBD accumulated VBN  during IN its PRP$ acquisition NN of IN nine CD businesses NNS that WDT  make VBP up RP the DT group NN , , the DT biggest JJS portion NN of IN which WDT was VBD related VBN  to TO the DT 1986 CD purchase NN of IN a DT Hillman NNP Co. NNP unit NN . .
Among IN other JJ things NNS , , the DT restructured VBN facilities NNS will MD substantially RB reduce VB the DT group NN 's POS required VBN amortization NN of IN the DT term NN loan NN portion NN of IN the DT credit NN facilities NNS through IN September NNP 1992 CD , , MLX NNP said VBD   . .
Certain JJ details NNS of IN the DT restructured VBN facilities NNS remain VBP  to TO be VB negotiated VBN  . .
The DT agreement NN is VBZ subject JJ to TO completion NN of IN a DT definitive JJ amendment NN and CC appropriate JJ approvals NNS . .
William NNP P. NNP Panny NNP , , MLX NNP chairman NN and CC chief JJ executive NN , , said VBD  the DT pact NN `` `` will MD provide VB MLX NNP with IN the DT additional JJ time NN and CC flexibility NN necessary JJ  to TO complete VB the DT restructuring NN of IN the DT company NN 's POS capital NN structure NN . . '' ''
MLX NNP has VBZ filed VBN a DT registration NN statement NN  with IN the DT Securities NNPS and CC Exchange NNP Commission NNP covering VBG a DT proposed VBN offering NN of IN $ $ 120 CD million CD  in IN long-term JJ senior JJ subordinated VBN notes NNS and CC warrants NNS . .
Dow NNP Jones NNP & CC Co. NNP said VBD  it PRP acquired VBD a DT 15 CD % NN interest NN in IN DataTimes NNP Corp. NNP , , a DT subsidiary NN of IN Oklahoma NNP Publishing NNP Co. NNP , , Oklahoma NNP City NNP , , that WDT  provides VBZ electronic JJ research NN services NNS . .
Terms NNS were VBD n't RB disclosed VBN  . .
Customers NNS of IN either DT DataTimes NNP or CC Dow NNP Jones NNP News\/Retrieval NNP are VBP able JJ  to TO access VB the DT information NN on IN both DT services NNS . .
Dow NNP Jones NNP is VBZ the DT publisher NN of IN The DT Wall NNP Street NNP Journal NNP . .
Flowers NNPS Industries NNPS Inc. NNP said VBD  it PRP will MD report VB a DT charge NN of IN eight CD cents NNS to TO 10 CD cents NNS a DT share NN for IN its PRP$ fiscal JJ first JJ quarter NN , , ended VBD Sept. NNP 23 CD , , from IN the DT sale NN of IN two CD bakeries NNS , , in IN High NNP Point NNP , , N.C. NNP , , and CC Gadsden NNP , , Ala NNP . .
The DT convenience-food NN company NN said VBD  it PRP sold VBD the DT bakeries NNS to TO Mills NNP Family NNP Bakery NNP for IN an DT undisclosed JJ amount NN . .
It PRP said VBD  the DT sales NNS were VBD part NN of IN a DT 1983 CD Federal NNP Trade NNP Commission NNP Consent NNP Order NNP . .
A DT year NN earlier RB , , Flowers NNS had VBD fiscal JJ first-quarter JJ net JJ income NN of IN $ $ 8 CD million CD  , , or CC 23 CD cents NNS a DT share NN , , on IN revenue NN of IN $ $ 170.4 CD million CD  . .
Raw-steel JJ production NN by IN the DT nation NN 's POS mills NNS decreased VBD 0.8 CD % NN last JJ week NN to TO 1,828,000 CD tons NNS from IN 1,843,000 CD tons NNS the DT previous JJ week NN , , the DT American NNP Iron NNP and CC Steel NNP Institute NNP said VBD   . .
Last JJ week NN 's POS output NN rose VBD 1.4 CD % NN from IN the DT 1,802,000 CD tons NNS produced VBD  a DT year NN earlier RB . .
The DT industry NN used VBN 82.2 CD % NN of IN its PRP$ capability NN last JJ week NN , , compared VBN with IN 82.8 CD % NN the DT previous JJ week NN and CC 84 CD % NN a DT year NN ago RB . .
The DT capability NN utilization NN rate NN is VBZ a DT calculation NN designed VBN   to TO indicate VB at IN what WP percent NN of IN its PRP$ production NN capability NN the DT industry NN is VBZ operating VBG  in IN a DT given VBN week NN . .
Selwyn NNP B. NNP Kossuth NNP was VBD named VBN  executive NN director NN of IN the DT commission NN , ,  effective JJ early JJ November NNP . .
Mr. NNP Kossuth NNP , , 52 CD years NNS old JJ , , succeeds VBZ Ermanno NNP Pascutto NNP , , 36 CD , , who WP  resigned VBD  to TO join VB Hong NNP Kong NNP 's POS Securities NNPS and CC Futures NNPS Commission NNP . .
Mr. NNP Kossuth NNP was VBD vice NN president NN and CC director NN , , corporate JJ finance NN , , of IN Nesbitt NNP Thomson NNP Deacon NNP Inc. NNP , , a DT Toronto NNP investment NN dealer NN . .
Dun NNP & CC Bradstreet NNP Corp. NNP 's POS Market NNP Data NNP Retrieval NNP unit NN said VBD  it PRP acquired VBD School NNP and CC College NNP Construction NNP Reports NNPS service NN from IN Intelligence NNP for IN Education NNP Inc NNP . .
Terms NNS were VBD n't RB disclosed JJ  . .
The DT service NN supplies VBZ weekly JJ reports NNS on IN school NN and CC college NN construction NN plans NNS . .
Market NNP Data NNP Retrieval NNP is VBZ a DT compiler NN of IN educational JJ information NN and CC provides VBZ related JJ services NNS . .
Closely RB held JJ Intelligence NNP in IN Education NNP , , of IN Larchmont NNP , , N.Y. NNP , , is VBZ an DT educational JJ publisher NN and CC consultant NN . .
A DT battle NN  is VBZ raging VBG in IN Venice NNP over IN plans NNS  to TO have VB the DT 1,200-year-old JJ Italian JJ city NN be VB the DT site NN for IN a DT universal JJ exposition NN in IN 2000 CD . .
The DT plans NNS include VBP a DT subway NN system NN , , a DT congress NN center NN , , floating JJ trees NNS , , fanciful JJ fountains NNS -- : and CC as RB many JJ as IN 60,000 CD additional JJ tourists NNS a DT day NN . .
Expo NN enthusiasts NNS argue VBP that IN  holding VBG the DT fair NN would MD attract VB businesses NNS , , create VBP jobs NNS and CC help VB  renovate VB abandoned VBN sections NNS of IN town NN . .
But CC opponents NNS fear VBP overcrowding JJ . .
`` `` This DT city NN already RB has VBZ too RB many JJ tourists NNS , , and CC it PRP ca MD n't RB hold VB them PRP all DT , , '' '' says VBZ  Pierluigi NNP Beggiato NNP , , the DT president NN of IN the DT Venice NNP hoteliers NNS association NN . .
About IN 40 CD Italian JJ businesses NNS , , including VBG Fiat NNP S.p NNP . . A. NNP and CC Ing NNP . . C. NNP Olivetti NNP & CC Co. NNP , , have VBP formed VBN a DT consortium NN   to TO lobby NN for IN  holding VBG the DT expo NN in IN Venice NNP . .
Three CD gambling NN casinos NNS have VBP opened VBN in IN Poland NNP . .
The DT three CD establishments NNS -- : two CD in IN Warsaw NNP and CC one CD in IN Krakow NNP -- : accept VB only JJ foreign JJ currency NN and CC are VBP joint JJ ventures NNS between IN Polish JJ firms NNS and CC Western JJ companies NNS . .
Not RB all DT Poles NNPS are VBP pleased VBN . .
`` `` What WP do VBP we PRP want VBP casinos NNS for IN  when WRB we PRP have VBP n't RB got VBN anything NN in IN the DT shops NNS  ? . '' '' one CD housewife NN asked VBD  . .
But CC Bogdan NNP Gumkowski NNP , , who WP  runs VBZ the DT casino NN at IN Warsaw NNP 's POS Marriott NNP Hotel NNP , , said VBD  the DT ventures NNS would MD help VB Poland NNP service NN its PRP$ $ $ 39 CD billion CD  foreign JJ debt NN by IN  pouring VBG dollars NNS into IN the DT state NN firms NNS in IN the DT joint JJ ventures NNS -- : the DT LOT NNP airline NN and CC Orbis NNP tourist NN organization NN . .
Algeria NNP plans VBZ  to TO increase VB natural-gas NN sales NNS to TO Europe NNP and CC the DT U.S. NNP . .
According VBG to TO the DT Middle NNP East NNP Economic NNP Survey NNP , , the DT North JJ African JJ nation NN is VBZ holding VBG talks NNS with IN Italy NNP for IN  adding VBG a DT fourth JJ pipe NN to TO a DT section NN of IN the DT Trans-Mediterranean NNP pipeline NN , ,  expanding VBG capacity NN by IN up IN to TO six CD billion CD cubic JJ meters NNS a DT year NN from IN 12.5 CD billion CD . .
Algeria NNP also RB wants VBZ  to TO build VB a DT pipeline NN through IN Morocco NNP and CC across IN the DT Strait NNP of IN Gibraltar NNP  to TO supply VB Spain NNP , , France NNP and CC West NNP Germany NNP with IN up IN to TO 15 CD billion CD cubic JJ meters NNS a DT year NN by IN the DT late JJ 1990s NNS . .
South NNP Africa NNP 's POS National NNP Union NNP of IN Mineworkers NNPS agreed VBD  to TO suspend VB the DT strike NN by IN diamond NN workers NNS and CC resume VB negotiations NNS with IN De NNP Beers NNP Consolidated NNP Mines NNPS Ltd. NNP over IN their PRP$ wage NN dispute NN , , De NNP Beers NNP said VBD   . .
It PRP also RB said VBD  the DT union NN had VBD agreed VBN  to TO meet VB the DT company NN for IN further JJ talks NNS tomorrow NN . .
The DT strike NN at IN five CD De NNP Beers NNP mines NNS began VBD last JJ Thursday NNP , , with IN 9,500 CD out IN of IN a DT total JJ 10,000 CD NUM NNP members NNS employed VBN  on IN De NNP Beers NNP mines NNS participating VBG , , according VBG to TO the DT union NN , , while IN De NNP Beers NNP said VBD  there EX were VBD 7,800 CD participants NNS . .
The DT union NN has VBZ demanded VBN a DT 37.6 CD % NN increase NN in IN the DT minimum NN wage NN while IN De NNP Beers NNP 's POS final JJ offer NN was VBD an DT increase NN of IN 17 CD % NN . .
A DT 35-nation JJ environmental JJ conference NN opened VBN in IN Sofia NNP , , Bulgaria NNP . .
The DT gathering NN is VBZ expected VBN  to TO focus VB on IN  curbing VBG the DT fouling NN of IN rivers NNS and CC lakes NNS , , limiting VBG damage NN from IN industrial JJ accidents NNS and CC improving VBG the DT handling NN of IN harmful JJ chemicals NNS . .
West JJ German JJ Environment NNP Minister NNP Klaus NNP Toepfer NNP said VBD  Bonn NNP is VBZ convinced VBN  of IN the DT need NN for IN cooperation NN , , `` `` especially RB with IN our PRP$ neighbors NNS in IN the DT East NNP , , because IN we PRP are VBP directly RB affected JJ  by IN their PRP$ ecological JJ progress NN or CC lack NN of IN it PRP . . '' ''
The DT U.S. NNP and CC Canada NNP joined VBD every DT European JJ country NN except IN Albania NNP at IN the DT meeting NN . .
The DT Swedish JJ publishers NNS of IN a DT new JJ Estonian-language JJ newspaper NN rushed VBD an DT extra JJ edition NN across IN the DT Baltic NNP on IN Oct. NNP 10 CD after IN the DT first JJ run NN sold VBN out RP in IN one CD day NN . .
Editor NNP Hasse NNP Olsson NNP said VBD  plans NNS had VBD called VBN for IN 7,000 CD copies NNS of IN the DT monthly JJ Are NNP Paev NNP -LRB- -LRB- Business NNP Paper NNP -RRB- -RRB- to TO be VB sold VBN  at IN newsstands NNS and CC an DT additional JJ 3,000 CD promotion NN issues NNS to TO be VB sent VBN  by IN direct JJ mail NN . .
He PRP said VBD  13,000 CD more JJR copies NNS were VBD sent VBN  to TO Estonia NNP because IN of IN strong JJ sales NNS . .
The DT Swedish JJ publishing NN company NN Bonniers NNP owns VBZ 51 CD % NN of IN Are NNP Paev NNP , , and CC the DT Estonian JJ management NN company NN Minor NNP owns VBZ 49 CD % NN . .
Angel NNP Gurria NNP , , Mexico NNP 's POS top JJ debt NN negotiator NN , , said VBD  the DT country NN 's POS creditor NN banks NNS are VBP responding VBG positively RB to TO Mexico NNP 's POS debt-reduction NN package NN . .
Mr. NNP Gurria NNP 's POS optimism NN contrasts VBZ with IN some DT bankers NNS ' POS views NNS that IN the DT deal NN may MD require VB a DT lot NN of IN arm NN twisting NN by IN the DT U.S. NNP Treasury NNP in IN order NN  to TO succeed VB . .
Mr. NNP Gurria NNP , , Mexico NNP 's POS under-secretary NN of IN the DT ministry NN of IN finance NN , , met VBD yesterday NN with IN European JJ bankers NNS in IN London NNP , , at IN the DT half-way JJ point NN on IN a DT so-called JJ road NN show NN   to TO market VB the DT package NN around IN the DT world NN . .
An DT increasing VBG number NN of IN banks NNS appear VBP  to TO be VB considering VBG the DT option NN under IN the DT deal NN whereby WRB they PRP can MD swap VB their PRP$ Mexican JJ loans NNS for IN 30-year JJ bonds NNS with IN a DT face NN value NN discounted VBN  by IN 35 CD % NN  , , Mr. NNP Gurria NNP said VBD   . .
The DT other JJ two CD options NNS consist VBP of IN  swapping VBG loans NNS for IN bonds NNS with IN 6.25 CD % NN interest NN rates NNS , , or CC providing VBG fresh JJ loans NNS . .
The DT accord NN , , which WDT  covers VBZ $ $ 52.7 CD billion CD  of IN Mexico NNP 's POS medium NN - : and CC long-term JJ debt NN , , is VBZ expected VBN  to TO go VB into IN effect NN in IN early JJ
China NNP 's POS top JJ film NN actress NN , , Liu NNP Xiaoqing NNP , , paid VBD $ $ 4,555 CD  in IN back JJ taxes NNS and CC fines NNS in IN Shandong NNP province NN , , the DT People NNPS 's POS Daily NNP reported VBD   . .
The DT amount NN is VBZ equal JJ to TO about IN 30 CD years NNS earnings NNS for IN the DT average JJ peasant NN , , who WP  makes VBZ $ $ 145 CD  a DT year NN ... : . .
China NNP will MD spend VB $ $ 9.45 CD million CD  for IN urgent JJ maintenance NN on IN Tibet NNP 's POS Potala NNP Palace NNP , , former JJ home NN of IN the DT Dalai NNP Lama NNP , , the DT China NNP News NNP Service NNP said VBD   . .
The DT Dalai NNP Lama NNP , , who WP  was VBD just RB awarded VBN  the DT Nobel NNP Peace NNP Prize NNP , , lives VBZ in IN exile NN in IN India NNP . .
George NNP W. NNP Koch NNP , , 63 CD years NNS old JJ , , president NN and CC chief JJ executive NN officer NN of IN Grocery NNP Manufacturers NNPS of IN America NNP Inc. NNP , , was VBD elected VBN  a DT director NN of IN this DT maker NN of IN spices NNS , , seasonings NNS and CC specialty NN foods NNS , ,  succeeding VBG Erskin NNP N. NNP White NNP Jr. NNP , , 65 CD , , who WP  resigned VBD . .
American NNP Business NNP Computer NNP Corp. NNP said VBD  it PRP privately RB placed VBD 1,035,000 CD common JJ shares NNS at IN $ $ 2.50 CD  a DT share NN . .
The DT placement NN was VBD made VBN  through IN Gray NNP Seifert NNP Securities NNPS , , New NNP York NNP , , to TO institutional JJ investors NNS . .
Proceeds NNS will MD be VB used VBN   to TO commercialize VB recently RB patented VBN technology NN and CC support VB the DT company NN 's POS international JJ expansion NN . .
The DT company NN develops VBZ and CC markets VBZ products NNS for IN the DT food NN service NN industry NN . .
THE DT R.H. NNP MACY NNP & CC CO NNP . . department-store NN chain NN is VBZ n't RB for IN sale NN . .
In IN yesterday NN 's POS edition NN , , it PRP was VBD incorrectly RB included VBN  with IN a DT list NN of IN New NNP York NNP chains NNS up IN for IN sale NN . .
Korean JJ car NN exports NNS have VBP slid VBN about IN 40 CD % NN so RB far RB this DT year NN , , but CC auto NN makers NNS here RB are VBP n't RB panicking VBG . .
They PRP are VBP enjoying VBG domestic JJ sales NNS that WDT  are VBP more RBR than IN  making VBG up RP for IN lost VBN overseas JJ sales NNS . .
South JJ Korean JJ consumers NNS are VBP expected VBN  to TO buy VB almost RB 500,000 CD passenger NN cars NNS this DT year NN , , up RB 60 CD % NN from IN 1988 CD . .
In IN fact NN , , some DT auto NN executives NNS suggest VBP that IN slackened VBN demand NN for IN their PRP$ cars NNS in IN the DT U.S. NNP and CC Canada NNP is VBZ a DT blessing NN ; : otherwise RB they PRP would MD n't RB be VB able JJ  to TO keep VB up RP with IN demand NN in IN the DT more RBR profitable JJ local JJ market NN . .
`` `` We PRP are VBP very RB lucky JJ  to TO easily RB change VB an DT export NN loss NN to TO domestic JJ plus NN , , '' '' says VBZ  Hong NNP Tu NNP Pyo NNP , , managing NN director NN of IN domestic JJ marketing NN for IN Hyundai NNP Motor NNP Co NNP . .
As IN it PRP is VBZ  , , waiting NN lists NNS of IN a DT month NN  are VBP n't RB unusual JJ for IN popular JJ models NNS . .
Demand NN is VBZ so RB strong JJ that IN all DT of IN the DT domestic JJ makers NNS -- : Hyundai NNP , , Kia NNP Motors NNPS Corp. NNP , , Daewoo NNP Motor NNP Co. NNP and CC even RB upstart JJ SsangYong NNP Motor NNP Co. NNP -- : plan VBP  to TO build VB more JJR factories NNS . .
Industry NN analysts NNS predict VBP that IN by IN 1995 CD , , South NNP Korea NNP will MD be VB building VBG three CD million CD cars NNS a DT year NN -- : about IN half NN of IN that DT for IN export NN . .
It PRP 's VBZ an DT optimistic JJ move NN in IN a DT industry NN already RB facing VBG world-wide JJ overcapacity NN . .
But CC South NNP Korean NNP auto NN makers NNS are VBP confident JJ that IN the DT export NN market NN will MD bounce VB back RB and CC that DT demand NN in IN Korea NNP will MD stay VB strong JJ . .
Currently RB only RB one CD in IN 38 CD South NNPS Koreans NNPS owns VBZ a DT car NN , , up RB from IN one CD in IN 200 CD a DT decade NN ago RB . .
`` `` In IN the DT year NN 2000 CD it PRP will MD be VB one CD car NN per IN family NN . .
At IN that DT point NN domestic JJ sales NNS will MD slow VB down RB , , '' '' says VBZ  Kim NNP Yoon NNP Kwon NNP , , director NN of IN marketing NN for IN Daewoo NNP Motor NNP . .
The DT reason NN for IN the DT tremendous JJ demand NN is VBZ simple NN : : South NNPS Koreans NNPS suddenly RB have VBP a DT lot NN more JJR money NN . .
`` `` We PRP never RB thought VBD  we PRP 'd MD own VB a DT car NN , , '' '' says VBZ  Kwang NNP Ok NN Kyong NNP , , who WP  just RB bought VBD a DT Daewoo NNP LeMans NNP on IN a DT five-year JJ loan NN . .
She PRP and CC her PRP$ husband NN started VBD a DT small JJ printing NN business NN and CC need VBP the DT car NN for IN work NN as RB well RB as IN for IN weekend NN jaunts NNS . .
Pay NN raises NNS of IN 60 CD % NN over IN the DT past JJ three CD years NNS have VBP given VBN many JJ South NNPS Koreans NNPS the DT money NN   to TO enjoy VB the DT things NNS  they PRP were VBD supplying VBG the DT rest NN of IN the DT world NN   . .
The DT success NN of IN newcomer NN SsangYong NNP Motor NNP shows VBZ the DT strength NN of IN the DT auto NN market NN and CC its PRP$ growing VBG diversity NN . .
 A DT part NN of IN the DT construction-oriented JJ conglomerate NN SsangYong NNP Group NNP , , it PRP took VBD over RP the DT dying VBG Dong-A NNP Motor NNP Co. NNP in IN 1986 CD . .
SsangYong NNP began VBD  making VBG variations NNS of IN the DT Jeep-like JJ `` `` Korando NNP '' '' vehicle NN . .
-LRB- -LRB- Dong-A NNP had VBD had VBN a DT technology NN agreement NN with IN Jeep NN maker NN American NNP Motors NNPS Corp. NNP , , now RB a DT part NN of IN Chrysler NNP Corp NNP . . -RRB- -RRB-
The DT most RBS popular JJ style NN is VBZ the DT stretched JJ `` `` Family NNP , , '' '' which WDT  resembles VBZ a DT Ford NNP Bronco NNP or CC Chevy NNP Blazer NNP . .
The DT four-wheel-drive NN vehicles NNS start VBP at IN $ $ 15,000 CD  ; : a DT Family NNP can MD cost VB over IN $ $ 25,000 CD  . .
SsangYong NNP , , which WDT  has VBZ only RB about IN 3 CD % NN of IN the DT domestic JJ market NN , , will MD sell VB about IN 18,000 CD of IN its PRP$ models NNS  this DT year NN , , twice RB as RB many JJ as IN last JJ year NN . .
It PRP sees VBZ sales NNS rising VBG 45 CD % NN to TO 26,000 CD units NNS next JJ year NN . .
The DT company NN plans VBZ  to TO expand VB plant NN capacity NN 50 CD % NN by IN 1991 CD . .
By IN then RB it PRP also RB hopes VBZ  to TO begin VB  producing VBG a DT passenger NN car NN based VBN  on IN the DT Volvo NNP 240 CD and CC selling VBG for IN about IN $ $ 20,000 CD  . .
Hyundai NNP and CC Daewoo NNP seem VBP unconcerned JJ about IN the DT SsangYong NNP threat NN , , but CC Kia NNP , , the DT scrappy JJ No.3 JJ auto NN maker NN , , is VBZ selling VBG four-wheel-drive NN vehicles NNS through IN its PRP$ Asia NNP unit NN . .
It PRP plans VBZ  to TO sell VB 1,700 CD units NNS in IN 1989 CD . .
Kia NNP , , the DT only JJ Korean JJ car NN maker NN that WDT  has VBZ seen VBN its PRP$ overseas JJ sales NNS grow VB in IN 1989 CD , , aims VBZ at IN Korea NNP 's POS common JJ man NN . .
Its PRP$ advantage NN has VBZ been VBN the DT peppy JJ little JJ Pride NNP , , sold VBN  as IN the DT Ford NNP Festiva NNP in IN the DT U.S. NNP . .
At IN 3.8 CD million CD won NN , , or CC $ $ 5,700 CD  , , the DT econobox NN is VBZ the DT lowest-priced JJ car NN in IN South NNP Korea NNP . .
Along IN with IN two CD larger JJR models NNS , , the DT company NN claims VBZ 18 CD % NN of IN the DT domestic JJ market NN . .
Ford NNP Motor NNP Co. NNP and CC Japan NNP 's POS Mazda NNP Motor NNP Corp. NNP have VBP equity NN interests NNS in IN Kia NNP . .
Kia NNP is VBZ the DT most RBS aggressive JJ of IN the DT Korean NNP Big NNP Three NNP in IN  offering VBG financing NN . .
Loans NNS for IN as RB long JJ as IN five CD years NNS make VBP the DT cars NNS very RB accessible JJ , , with IN monthly JJ payments NNS as RB low RB as IN 80,000 CD won NN , , or CC $ $ 120 CD  . .
Daewoo NNP Motor NNP , , a DT 50-50 CD joint NN venture NN with IN General NNP Motors NNPS Corp. NNP and CC the DT Daewoo NNP Group NNP conglomerate NN , , is VBZ the DT only JJ auto NN maker NN that WDT  appears VBZ  to TO be VB hurting VBG . .
Shipments NNS of IN its PRP$ Lemans NNP to TO GM NNP 's POS Pontiac NNP division NN are VBP off RB about IN 65 CD % NN from IN a DT year NN ago RB , , versus FW a DT 44 CD % NN decline NN for IN Hyundai NNP and CC an DT 18 CD % NN increase NN for IN Kia NNP . .
Moreover RB , , Daewoo NNP 's POS domestic JJ sales NNS have VBP grown VBN half NN as RB fast RB as IN sales NNS of IN its PRP$ rivals NNS . .
The DT big JJ problem NN for IN Daewoo NNP , , which WDT  holds VBZ about IN 21 CD % NN of IN the DT market NN , , is VBZ the DT long JJ series NN of IN labor NN disruptions NNS  it PRP suffered VBD  this DT year NN . .
But CC Daewoo NNP is VBZ expanding VBG too RB . .
In IN fact NN , , a DT sister NN company NN , , Daewoo NNP Shipbuilding NNP and CC Heavy NNP Machinery NNP , , plans VBZ  to TO build VB 240,000 CD minicars NNS by IN the DT mid-1990s NNS . .
Hyundai NNP , , the DT Korean JJ market NN leader NN with IN a DT 58 CD % NN share NN , , also RB plans VBZ  to TO jump VB into IN minicars NNS at IN the DT same JJ time NN . .
It PRP has VBZ a DT similar JJ project NN for IN 200,000 CD cars NNS a DT year NN . .
Kia NNP is VBZ reportedly RB also RB considering VBG such JJ a DT plan NN . .
Even RB giant JJ Samsung NNP Group NNP is VBZ rumored VBN in IN the DT Korean JJ press NN  to TO be VB considering VBG  getting VBG into IN the DT auto-making NN business NN ; : a DT company NN spokesman NN had VBD no DT comment NN . .
Robert NNP P. NNP Bulseco NNP , , 44 CD years NNS old JJ , , was VBD named VBN  president NN and CC chief JJ administrative JJ officer NN of IN this DT regional JJ commercial JJ bank NN . .
Both DT posts NNS had VBD been VBN vacant JJ . .
Robert NNP Robie NNP , , 51 CD , , was VBD named VBN  to TO the DT new JJ positions NNS of IN vice NN chairman NN and CC chief JJ credit NN officer NN . .
Many JJ skittish JJ mutual JJ fund NN investors NNS picked VBD up RP the DT phone NN yesterday NN , , but CC decided VBD not RB  to TO cash VB in RP their PRP$ chips NNS after IN all DT . .
As IN the DT stock NN market NN bounced VBD back RB , , withdrawals NNS of IN money NN from IN stock NN funds NNS amounted VBD to TO a DT mere JJ trickle NN compared VBN with IN Black NNP Monday NNP , , when WRB investors NNS dumped VBD $ $ 2.3 CD billion CD  , , or CC about IN 2 CD % NN of IN stock-fund NN assets NNS  . .
Fidelity NNP Investments NNPS , , the DT nation NN 's POS largest JJS fund NN company NN , , said VBD  phone NN volume NN was VBD more RBR than IN double JJ its PRP$ typical JJ level NN , , but CC still RB half NN that DT of IN Oct. NNP 19 CD , , 1987 CD . .
Net JJ outflows NNS from IN Fidelity NNP 's POS stock NN funds NNS stood VBD at IN less JJR than IN $ $ 300 CD million CD  , , or CC below IN 15 CD % NN of IN the DT $ $ 2 CD billion CD  cash NN position NN of IN the DT firm NN 's POS stock NN portfolios NNS . .
Much RB of IN the DT money NN was VBD switched VBN  into IN the DT firm NN 's POS money NN market NN funds NNS . .
Outflows NNS since IN the DT close NN of IN trading NN Friday NNP remain VBP below IN one-third NN their PRP$ level NN of IN two CD years NNS ago RB , , Fidelity NNP said VBD   . .
Other JJ mutual JJ fund NN companies NNS reported VBD even RB lighter JJR withdrawal NN requests NNS . .
And CC some DT investors NNS at IN Fidelity NNP and CC elsewhere RB even RB began VBD  buying VBG stock NN funds NNS during IN the DT day NN . .
`` `` Two CD years NNS ago RB , , there EX was VBD a DT lot NN of IN redemption NN activity NN and CC trouble NN with IN people NNS getting VBG through RP on IN the DT phone NN , , '' '' said VBD  Kathryn NNP McGrath NNP , , head NN of IN the DT investment NN management NN division NN of IN the DT Securities NNPS and CC Exchange NNP Commission NNP . .
This DT time NN , , `` `` We PRP do VBP n't RB have VB that DT at IN all DT . . '' ''
Of IN course NN , , the DT relative JJ calm NN could MD be VB jolted VBN  if IN the DT market NN plunges VBZ again RB . .
And CC any DT strong JJ surge NN in IN redemptions NNS could MD force VB some DT funds NNS to TO dump VB stocks NNS  to TO raise VB cash NN , , as IN some DT did VBD  during IN Black NNP Monday NNP . .
But CC funds NNS generally RB are VBP better RBR prepared JJ this DT time NN around RB . .
As IN a DT group NN , , their PRP$ cash NN position NN of IN 10.2 CD % NN of IN assets NNS in IN August NNP -- : the DT latest JJS figure NN available JJ -- : is VBZ 14 CD % NN higher JJR than IN two CD years NNS earlier RB . .
Many JJ fund NN managers NNS have VBP boosted VBN their PRP$ cash NN levels NNS in IN recent JJ weeks NNS . .
The DT biggest JJS flurry NN of IN investor NN activity NN came VBD early RB in IN the DT day NN . .
Vanguard NNP Group NNP Inc. NNP saw VBD heavy JJ exchanges NNS from IN stock NN funds NNS into IN money NN market NN funds NNS after IN the DT telephone NN lines NNS opened VBN at IN 8:30 CD a.m RB . .
`` `` In IN the DT first JJ hour NN , , the DT real JJ nervous JJ folks NNS came VBD along RB , , '' '' a DT spokesman NN said VBD  . .
`` `` But CC the DT horrendous JJ pace NN of IN call NN volume NN in IN the DT first JJ half-hour JJ slowed VBD considerably RB . . '' ''
At IN Scudder NNP , , Stevens NNP & CC Clark NNP Inc. NNP , , phone NN calls NNS came VBD in RP at IN 40 CD % NN more JJR than IN the DT normal JJ pace NN through IN early JJ afternoon NN . .
Most JJS of IN that DT increase NN came VBD in IN the DT first JJ hour NN after IN the DT phone NN lines NNS opened VBN at IN 8 CD a.m RB . .
As IN stocks NNS rose VBD , , in IN fact NN , , some DT investors NNS changed VBD course NN and CC reversed VBD their PRP$ sell NN orders NNS . .
Many JJ funds NNS allow VBP investors NNS to TO void VB orders NNS before IN the DT close NN of IN trading NN . .
At IN Scudder NNP and CC at IN the DT smaller JJR Ivy NNP funds NNS group NN in IN Hingham NNP , , Mass. NNP , , for IN instance NN , , some DT shareholders NNS called VBD early RB in IN the DT morning NN  to TO switch VB money NN from IN stock NN funds NNS to TO money NN market NN funds NNS , , but CC later RB called VBN back RB  to TO reverse VB the DT switches NNS . .
Because IN mutual JJ fund NN trades NNS do VBP n't RB take VB effect NN until IN the DT market NN close RB -- : in IN this DT case NN , , at IN 4 CD p.m. RB -- : these DT shareholders NNS effectively RB stayed VBD put VBN . .
At IN Fidelity NNP 's POS office NN in IN downtown NN Boston NNP , , Gerald NNP Sherman NNP walked VBD in RP shortly RB after IN 7:30 CD a.m. RB and CC placed VBD an DT order NN  to TO switch VB his PRP$ retirement NN accounts NNS out IN of IN three CD stock NN funds NNS and CC into IN a DT money NN market NN fund NN . .
But CC by IN 3:15 CD p.m. RB , , with IN the DT market NN comfortably RB ahead RB for IN the DT day NN , , Mr. NNP Sherman NNP was VBD preparing VBG  to TO undo VB his PRP$ switch NN . .
`` `` It PRP  's VBZ a DT nice JJ feeling NN  to TO know VB that IN things NNS stabilized VBD , , '' '' said VBD  Mr. NNP Sherman NNP , , the DT 51-year-old JJ co-owner NN of IN a DT discount NN department NN store NN . .
But CC some DT investors NNS continued VBD  to TO switch VB out RB of IN high-risk CD , , high-yield JJ junk NN funds NNS despite IN yesterday NN 's POS rebound NN from IN that DT market NN 's POS recent JJ price NN declines NNS . .
Shareholders NNS have VBP been VBN steadily RB bailing VBG out RP of IN several JJ big JJ junk NN funds NNS the DT past JJ several JJ weeks NNS as IN the DT $ $ 200 CD billion CD  market NN was VBD jolted VBN  by IN a DT cash NN crunch NN at IN Campeau NNP Corp. NNP and CC steadily RB declining VBG prices NNS . .
Much RB of IN the DT money NN has VBZ been VBN switched VBN  into IN money NN market NN funds NNS , , fund NN executives NNS say VBP   . .
Instead RB of IN  selling VBG bonds NNS  to TO meet VB redemptions NNS , , however RB , , some DT funds NNS have VBP borrowed VBN from IN banks NNS  to TO meet VB withdrawal NN requests NNS . .
This DT avoids VBZ  knocking VBG down RP prices NNS further RBR . .
The DT $ $ 1.1 CD billion CD  T. NNP Rowe NNP Price NNP High NNP Yield NNP Fund NNP was VBD among IN the DT funds NNS that WDT  borrowed VBD during IN the DT Campeau NNP crisis NN , , says VBZ   George NNP J. NNP Collins NNP , , president NN of IN T. NNP Rowe NNP Price NNP Associates NNPS Inc NNP . .
That DT way NN , , Mr. NNP Collins NNP says VBZ , , `` `` We PRP did VBD n't RB have VB  to TO sell VB securities NNS in IN a DT sloppy JJ market NN . . '' ''
When WRB the DT market NN stabilized VBN  , , he PRP added VBD   , , the DT firm NN sold VBD the DT bonds NNS and CC quickly RB paid VBD the DT loans NNS back RB . .
Tom NNP Herman NNP contributed VBD to TO this DT article NN . .
Amcore NNP Financial NNP Inc. NNP said VBD  it PRP agreed VBD  to TO acquire VB Central NNP of IN Illinois NNP Inc. NNP in IN a DT stock NN swap NN . .
Shareholders NNS of IN Central NNP , , a DT bank NN holding VBG company NN based VBN  in IN Sterling NNP , , Ill. NNP , , will MD receive VB Amcore NNP stock NN equal JJ to TO 10 CD times NNS Central NNP 's POS 1989 CD earnings NNS , , Amcore NNP said VBD   . .
For IN the DT first JJ nine CD months NNS of IN 1989 CD , , Central NNP earned VBD $ $ 2 CD million CD  . .
Amcore NNP , , also RB a DT bank NN holding VBG company NN , , has VBZ assets NNS of IN $ $ 1.06 CD billion CD  . .
Central NNP 's POS assets NNS are VBP $ $ 240 CD million CD  . .
-LRB- -LRB- During IN its PRP$ centennial NN year NN , , The DT Wall NNP Street NNP Journal NNP will MD report VB events NNS of IN the DT past JJ century NN that DT  stand VBP as IN milestones NNS of IN American JJ business NN history NN . . -RRB- -RRB-
SOFT JJ CONTACT NN LENSES NNS WON VBP federal JJ blessing NN on IN March NNP 18 CD , , 1971 CD , , and CC quickly RB became VBD eye NN openers NNS for IN their PRP$ makers NNS . .
The DT Food NNP and CC Drug NNP Administration NNP that DT day NN said VBD  Bausch NNP & CC Lomb NNP could MD start VB  selling VBG them PRP in IN the DT U.S. NNP . .
The DT cornflake-size JJ product NN was VBD more RBR comfortable JJ and CC less RBR prone JJ to TO  falling VBG out RB than IN hard JJ contact NN lenses NNS , , which WDT  had VBD been VBN around IN since IN 1939 CD . .
Bausch NNP & CC Lomb NNP sold VBD the DT softies NNS under IN a DT sublicense NN from IN National NNP Patent NNP Development NNP , , which WDT  had VBD gained VBN the DT rights NNS from IN the DT Czechoslovakia NNP Academy NNP of IN Sciences NNPS . .
Otto NNP Wichterle NNP , , a DT Czech NNP , , invented VBD them PRP in IN 1962 CD . .
The DT plastic JJ lens NN wraps VBZ itself PRP over IN the DT cornea NN , ,  absorbing VBG eye NN moisture NN while IN  permitting VBG oxygen NN to TO pass VB through RB . .
But CC the DT new JJ lens NN became VBD the DT eye NN of IN a DT storm NN . .
In IN September NNP 1971 CD California NNP officials NNS seized VBD `` `` bootlegged VBN '' '' lenses NNS -- : made VBN  by IN unlicensed JJ companies NNS -- : after IN some DT showed VBD traces NNS of IN bacteria NNS . .
In IN October NNP doctors NNS were VBD debating VBG the DT product NN 's POS safety NN , , some DT claiming VBG  it PRP caused VBD infections NNS . .
And CC there EX were VBD Senate NNP hearings NNS on IN the DT questions NNS in IN July NNP 1972 CD . .
The DT product NN overcame VBD the DT bad JJ publicity NN and CC kept VBD  evolving VBG . .
The DT early JJ soft JJ lenses NNS , , which WDT  cost VBD $ $ 300 CD  a DT set NN , , were VBD expected VBN  to TO last VB for IN a DT year NN . .
In IN 1983 CD `` `` extended JJ wear NN '' '' versions NNS , , designed VBN  to TO be VB worn VBN  for IN 30 CD days NNS at IN a DT time NN , , wree NN offered VBD  . .
Eighteen CD months NNS ago RB a DT `` `` disposable JJ '' '' seven-day JJ model NN bowed VBD ; : a DT year NN 's POS supply NN costs VBZ about IN $ $ 500 CD  . .
Last JJ month NN the DT FDA NNP and CC Contact NNP Lens NNP Institute NNP cautioned VBD users NNS that IN serious JJ eye NN infections NNS could MD result VB from IN  wearing VBG lenses NNS more JJR than IN seven CD days NNS at IN a DT stretch NN . .
Today NN 20 CD million CD of IN the DT 25 CD million CD Americans NNPS using VBG contact NN lenses NNS are VBP using VBG the DT soft JJ type NN . .
Including VBG the DT accesory NN eye NN care NN products NNS , , contacts NNS account VBP for IN $ $ 2 CD billion CD  in IN annual JJ retail JJ sales NNS . .
Although IN Bausch NNP remains VBZ the DT leader NN among IN the DT six CD majors NNS , , Johnson NNP & CC Johnson NNP , , with IN its PRP$ new JJ disposables NNS , , is VBZ coming VBG on RP fast RB . .
The DT roller-coaster NN stock NN market NN is VBZ making VBG life NN tougher JJR for IN small JJ companies NNS trying VBG  to TO raise VB money NN . .
In IN the DT wake NN of IN Friday NNP 's POS plunge NN and CC yesterday NN 's POS rebound NN , , some DT companies NNS are VBP already RB postponing VBG deals NNS , , and CC others NNS wish VBP  they PRP could MD  . .
As IN in IN other JJ jittery JJ times NNS , , many JJ small JJ businesses NNS expect VBP a DT particularly RB rough JJ time NN  raising VBG funds NNS as IN investors NNS shun VBP risky JJ deals NNS , ,  seeking VBG safety NN in IN bigger JJR companies NNS . .
Even RB if IN stock NN prices NNS fully RB recover VBP from IN Friday NNP 's POS sharp JJ decline NN , , the DT unsettled JJ conditions NNS will MD frighten VB many JJ investors NNS . .
`` `` The DT implication NN of IN an DT unsettled JJ situation NN is VBZ that IN the DT thing NN could MD drop VB dramatically RB , , '' '' says VBZ  Henry NNP Linsert NNP Jr. NNP , , chairman NN of IN Martek NNP Corp. NNP , , a DT four-year-old JJ biotechnology NN company NN that WDT  is VBZ planning VBG a DT private JJ placement NN of IN stock NN . .
`` `` The DT more JJR variables NNS that WDT  indicate VBP risk NN , , the DT more JJR  the DT investor NN is VBZ going VBG  to TO drive VB a DT hard JJ bargain NN . . '' ''
Earlier RB this DT month NN , , Staples NNP Inc. NNP , , a DT Newton NNP , , Mass. NNP , , office-supplies NNS discounter NN , , said VBD  it PRP would MD accelerate VB expansion NN plans NNS nationwide JJ and CC offer VB more JJR of IN its PRP$ stock NN to TO the DT public NN . .
At IN the DT time NN , , its PRP$ shares NNS were VBD selling VBG above IN their PRP$ initial JJ offering NN price NN of IN $ $ 19 CD  , , and CC bankers NNS believed VBD  Staples NNP would MD sell VB new JJ stock NN without IN a DT hitch NN . .
But CC with IN the DT company NN 's POS shares NNS standing VBG at IN $ $ 15 CD  yesterday NN , , a DT new JJ offering NN seems VBZ unlikely JJ , , company NN officials NNS say VBP   . .
Business NN , , however RB , , continues VBZ  to TO be VB `` `` robust JJ , , '' '' and CC the DT stock NN market NN has VBZ n't RB affected VBN the DT concern NN 's POS expansion NN plans NNS , , says VBZ   Todd NNP Krasnow NNP , , a DT senior JJ executive NN . .
Other JJ companies NNS figure VBP  they PRP ca MD n't RB avoid VB the DT market NN . .
`` `` We PRP have VBP capital NN requirements NNS , , '' '' says VBZ   Mr. NNP Linsert NNP , , `` `` so IN we PRP have VBP  to TO go VB ahead RB '' '' with IN a DT planned JJ $ $ 1.5 CD billion CD  private JJ placement NN . .
Unless IN the DT market NN goes VBZ right RB back RB up RB , , he PRP says VBZ   , , `` `` it PRP may MD take VB us PRP six CD to TO nine CD months NNS   to TO find VB the DT money NN , , instead RB of IN three CD . . '' ''
And CC the DT Columbia NNP , , Md. NNP , , company NN may MD have VB  to TO settle VB for IN a DT lower JJR price NN , , he PRP adds VBZ   . .
Life NN is VBZ particularly RB nerve-racking JJ for IN companies NNS that WDT  had VBD planned VBN  to TO go VB public NN this DT week NN . .
Hand-holding NN is VBZ becoming VBG an DT investment-banking NN job NN requirement NN . .
Robertson NNP , , Stephens NNP & CC Co. NNP , , a DT San NNP Francisco NNP investment NN banking NN concern NN , , has VBZ a DT client NN that WDT  looked VBD forward RP to TO  making VBG its PRP$ initial JJ public NN offering NN yesterday NN . .
Officers NNS of IN the DT company NN , , a DT health-care NN concern NN , , `` `` were VBD very RB discouraged JJ on IN Friday NNP and CC felt VBD  they PRP should MD n't RB go VB public JJ ; : we PRP felt VBD  they PRP should MD  , , '' '' says VBZ   Sanford NNP Robertson NNP , , partner NN in IN the DT banking NN concern NN . .
As IN the DT market NN dropped VBD Friday NNP , , Robertson NNP Stephens NNP slashed VBD the DT value NN of IN the DT offering NN by IN 7 CD % NN . .
Yesterday NN , , when WRB similar JJ securities NNS rebounded NN  , , it PRP bumped VBD the DT valuation NN up RP again RB . .
As IN of IN late JJ yesterday NN , , the DT IPO NN was VBD still RB on RP . .
For IN many JJ , , the DT situation NN is VBZ especially RB discouraging JJ because IN the DT market NN for IN IPOs NNS was VBD showing VBG signs NNS of IN strengthening VBG after IN several JJ years NNS of IN weakness NN . .
`` `` We PRP were VBD just RB beginning VBG  to TO look VB at IN the DT increase NN in IN IPOs NNS , ,  seeing VBG the DT light NN at IN the DT end NN of IN the DT tunnel NN , , '' '' says VBZ  Frank NNP Kline NNP Jr. NNP , , partner NN in IN Lambda NNP Funds NNPS , , a DT Beverly NNP Hills NNPS , , Calif. NNP , , venture JJ capital NN concern NN . .
`` `` But CC the DT tunnel NN 's VBZ just RB gotten VBN longer RBR . . '' ''
Companies NNS planning VBG  to TO go VB public JJ `` `` are VBP definitely RB taking VBG a DT second JJ look NN , , '' '' says VBZ   Allen NNP Hadhazy NNP , , senior JJ analyst NN at IN the DT Institute NNP for IN Econometric NNP Research NNP , , Fort NNP Lauderdale NNP , , Fla. NNP , , which WDT  publishes VBZ the DT New NNP Issues NNPS newsletter NN on IN IPOs NNS . .
He PRP calculates VBZ that IN the DT recent JJ market NN slide NN translated VBN into IN a DT 5 CD % NN to TO 7 CD % NN reduction NN in IN IPO NN proceeds NNS to TO companies NNS . .
Many JJ companies NNS are VBP hesitating VBG . .
Exabyte NNP Corp. NNP had VBD been VBN planning VBG  to TO sell VB 10 CD % NN of IN its PRP$ stock NN this DT week NN in IN an DT IPO NN that WDT  would MD raise VB up IN to TO $ $ 28.5 CD million CD  . .
But CC now RB , , Peter NNP Behrendt NNP , , president NN , , says VBZ , , `` `` We PRP 're VBP making VBG decisions NNS on IN a DT day-to-day JJ basis NN . . '' ''
 Debt-free JJ and CC profitable JJ , , the DT Boulder NNP , , Colo. NNP , , computer-products NNS concern NN could MD borrow VB funds NNS if IN it PRP decides VBZ against IN an DT IPO NN now RB , , he PRP says VBZ   . .
KnowledgeWare NNP Inc. NNP , , an DT Atlanta NNP computer-software NN concern NN , , says VBZ  it PRP is VBZ still RB planning VBG  to TO go VB ahead RB with IN its PRP$ IPO NN this DT week NN or CC next JJ -- : unless IN conditions NNS change VBP . .
`` `` It PRP 's VBZ a DT wait-and-see JJ situation NN right RB now RB , , '' '' says VBZ  Terry NNP McGowan NNP , , president NN . .
Delayed JJ financings NNS also RB would MD affect VB the DT operations NNS of IN many JJ companies NNS . .
Sierra NNP Tucson NNP Cos. NNP , , a DT Tucson NNP , , Ariz. NNP , , operator NN of IN addiction-treatment NN centers NNS , , has VBZ a DT planned JJ doubling NN of IN capacity NN riding VBG on IN an DT IPO NN scheduled VBN  for IN next JJ week NN . .
William NNP O'Donnell NNP , , president NN , , says VBZ  he PRP still RB thinks VBZ  the DT IPO NN will MD succeed VB . .
If IN it PRP does VBZ n't RB  , , he PRP says VBZ   , , the DT company NN would MD have VB  to TO change VB its PRP$ expansion NN timetable NN . .
But CC the DT market NN turmoil NN could MD be VB partially RB beneficial JJ for IN some DT small JJ businesses NNS . .
In IN a DT sagging VBG market NN , , the DT Federal NNP Reserve NNP System NNP `` `` might MD flood VB the DT market NN with IN funds NNS , , and CC that DT should MD bring VB interest NN rates NNS down RB , , '' '' says VBZ   Leonard NNP T. NNP Anctil NNP , , vice NN president NN of IN the DT Bank NNP of IN New NNP England NNP , , Boston NNP . .
James NNP G. NNP Zafris NNP , , president NN of IN Danvers NNP Savings NNPS Bank NNP , , Danvers NNP , , Mass. NNP , , says VBZ  the DT market NN turmoil NN `` `` is VBZ an DT absolute JJ non-event NN for IN small JJ business NN . . '' ''
For IN small JJ companies NNS , , he PRP says VBZ   , , interest NN rates NNS are VBP far RB more RBR important JJ than IN what WP  happens VBZ on IN stock NN exchanges NNS . .
Mr. NNP Zafris NNP thinks VBZ  rates NNS are VBP heading VBG down RB , ,  helping VBG small JJ companies NNS . .
Peter NNP Drake NNP , , biotechnology NN analyst NN for IN Vector NNP Securities NNPS International NNP , , Chicago NNP , , thinks VBZ  market NN uncertainty NN may MD encourage VB small JJ companies NNS to TO form VB more RBR strategic JJ alliances NNS with IN big JJ corporations NNS . .
Partly RB because IN the DT 1987 CD market NN crash NN made VBD it PRP harder JJR for IN them PRP to TO find VB financing NN , , many JJ high-technology NN concerns NNS have VBP made VBN such JJ alliances NNS recently RB . .
Some DT even RB see VBP a DT silver NN lining NN in IN the DT dark JJ clouds NNS . .
Alan NNP Wells NNP , , president NN of IN Bollinger NNP , , Wells NNP , , Lett NNP & CC Co. NNP , , a DT New NNP York NNP merger NN specialist NN , , thinks VBZ  panicky JJ investors NNS may MD lose VB their PRP$ enthusiasm NN for IN leveraged JJ buy-out NN and CC giant JJ takeover NN deals NNS . .
Instead RB , , they PRP could MD turn VB to TO  investing VBG in IN smaller JJR deals NNS involving VBG smaller JJR companies NNS , , he PRP says VBZ   . .
And CC William NNP E. NNP Wetzel NNP Jr. NNP , , a DT University NNP of IN New NNP Hampshire NNP management NN professor NN and CC director NN of IN Venture NNP Capital NNP Network NNP Inc. NNP , , says VBZ  the DT market NN 's POS gyrations NNS will MD underline VB the DT investors NNS ' POS lack NN of IN control NN in IN big JJ stock NN investments NNS . .
This DT will MD add VB to TO the DT appeal NN of IN small JJ business NN , , he PRP says VBZ   , , where WRB investors NNS often RB have VBP a DT degree NN of IN influence NN  . .
Bay NNP Financial NNP Corp. NNP , , hurt VBN  by IN high JJ debts NNS and CC deteriorating VBG real JJ estate NN investments NNS , , reported VBD a DT wider JJR loss NN for IN the DT fourth JJ quarter NN and CC said VBD  it PRP might MD be VB forced VBN  to TO seek VB a DT bankruptcy-court NN reorganization NN if IN it PRP ca MD n't RB renegotiate VB its PRP$ borrowings NNS . .
Bay NNP said VBD  a DT `` `` substantial JJ part NN '' '' of IN its PRP$ debt NN outstanding JJ is VBZ in IN default NN as IN a DT result NN of IN inability NN  to TO sell VB certain JJ properties NNS quickly RB and CC lower-than-expected JJ prices NNS for IN sales NNS made VBN  . .
The DT company NN said VBD  its PRP$ real JJ estate NN portfolio NN is VBZ `` `` highly RB leveraged JJ , , '' '' while IN about IN two-thirds NNS of IN its PRP$ investments NNS are VBP n't RB income-producing JJ . .
Thus RB it PRP is VBZ coming VBG up RP short RB on IN a DT big JJ bet NN that IN quick JJ sales NNS at IN higher JJR prices NNS would MD enable VB it PRP to TO keep VB up RP with IN mortgage NN and CC other JJ debt NN payments NNS . .
According VBG to TO its PRP$ latest JJS annual JJ report NN , , about IN a DT quarter NN of IN the DT company NN 's POS holdings NNS are VBP in IN Massachusetts NNP , , in IN the DT midst NN of IN a DT real-estate NN slump NN . .
The DT company NN said VBD  it PRP had VBD a DT net JJ loss NN in IN its PRP$ fourth JJ quarter NN ended VBN June NNP 30 CD of IN $ $ 36.2 CD million CD  , , or CC $ $ 9.33 CD  a DT share NN , , on IN revenue NN of IN $ $ 13.1 CD million CD  . .
A DT year NN earlier RB , , the DT company NN had VBD a DT loss NN of IN $ $ 10.8 CD million CD  , , or CC $ $ 3.04 CD  a DT share NN , , on IN revenue NN of IN $ $ 10.8 CD million CD  . .
For IN the DT year NN , , it PRP had VBD a DT net JJ loss NN of IN $ $ 62 CD million CD  , , or CC $ $ 15.97 CD  a DT share NN , , on IN revenue NN of IN $ $ 44.3 CD million CD  . .
In IN the DT previous JJ year NN , , it PRP had VBD a DT loss NN of IN $ $ 22.5 CD million CD  , , or CC $ $ 6.52 CD  a DT share NN , , on IN revenue NN of IN $ $ 41.1 CD million CD  . .
Although IN it PRP is VBZ having VBG serious JJ cash-flow NN problems NNS , , Bay NNP said VBD  the DT fair-market JJ value NN of IN its PRP$ holdings NNS , , minus CC debt NN , , was VBD equal JJ to TO $ $ 6.02 CD  a DT share NN at IN June NNP 30 CD based VBN on IN a DT recent JJ appraisal NN . .
Book NN value NN per IN share NN , , which WDT  is VBZ based VBN  on IN investments NNS at IN cost NN , , was VBD a DT negative JJ $ $ 6.69 CD  a DT share NN . .
A DT year NN earlier RB , , fair-market JJ value NN per IN share NN was VBD $ $ 26.02 CD  and CC book NN value NN was VBD $ $ 9.43 CD  a DT share NN . .
Annualized VBN interest NN rates NNS on IN certain JJ investments NNS as IN  reported VBN  by IN the DT Federal NNP Reserve NNP Board NNP on IN a DT weekly-average JJ basis NN : : 1989 CD and CC Wednesday NNP October NNP 4 CD , , 1989 CD . .
c-Yields NNS , , adjusted VBN  for IN constant JJ maturity NN . .
TRW NNP Inc. NNP reported VBD a DT 12 CD % NN decline NN in IN third-quarter JJ net JJ income NN , , but CC the DT company NN said VBD that IN  excluding VBG unusual JJ gains NNS in IN both DT quarters NNS , , operating NN profit NN rose VBD 16 CD % NN . .
The DT electronics NNS , , automotive JJ and CC aerospace NN concern NN said VBD  third-quarter JJ net NN was VBD $ $ 60 CD million CD  , , or CC 98 CD cents NNS a DT share NN , , down RB from IN $ $ 68 CD million CD  , , or CC $ $ 1.11 CD  a DT share NN , , a DT year NN earlier RB . .
Share NN earnings NNS are VBP reported VBN  on IN a DT fully RB diluted JJ basis NN , , by IN company NN tradition NN . .
Results NNS for IN the DT 1988 CD quarter NN included VBD a DT gain NN of IN $ $ 1.05 CD  a DT share NN from IN sale NN of IN the DT Reda NNP Pump NNP and CC Oilwell NNP Cable NNP units NNS , , partly RB offset VBN  by IN a DT charge NN of IN 69 CD cents NNS a DT share NN for IN recall NN of IN faulty JJ truck NN steering NN systems NNS . .
The DT latest JJS quarter NN included VBD a DT gain NN of IN 11 CD cents NNS a DT share NN as IN a DT partial JJ reversal NN of IN the DT recall NN charge NN , , because IN the DT reserve NN established VBN  last JJ year NN exceeded VBD the DT actual JJ recall NN costs NNS . .
Sales NNS for IN the DT quarter NN rose VBD 8.3 CD % NN to TO $ $ 1.79 CD billion CD  , , from IN $ $ 1.65 CD billion CD  , , with IN all DT three CD major JJ product NN groups NNS reporting VBG gains NNS . .
The DT company NN said VBD  aerospace NN and CC defense NN sales NNS were VBD up IN 2 CD % NN for IN the DT quarter NN to TO $ $ 802 CD million CD  , , and CC operating NN profit NN climbed VBD 6 CD % NN to TO $ $ 61 CD million CD  , , mainly RB because IN of IN improved JJ program NN performance NN in IN spacecraft NN and CC advanced-technology NN contracts NNS . .
Automotive JJ sales NNS jumped VBD 16 CD % NN to TO $ $ 791 CD million CD  , , mainly RB because IN of IN higher JJR sales NNS of IN air NN bags NNS and CC other JJ passenger NN restraint NN systems NNS , , TRW NNP said VBD   . .
The DT group NN had VBD an DT operating NN profit NN of IN $ $ 65 CD million CD  , , against IN a DT loss NN of IN $ $ 13 CD million CD  a DT year NN earlier RB . .
However RB , ,  excluding VBG the DT year-earlier JJ charge NN for IN recall NN of IN steering NN gear NN , , operating NN profit NN in IN the DT latest JJS quarter NN declined VBD 14 CD % NN , ,  reflecting VBG higher JJR start-up NN and CC product NN development NN expenses NNS in IN passenger-restraint NN systems NNS . .
Materials NNS and CC production NN costs NNS also RB rose VBD , , TRW NNP said VBD   . .
The DT information NN systems NNS segment NN had VBD a DT 44 CD % NN jump NN sales NNS to TO $ $ 196 CD million CD  . .
An DT acquisition NN accounted VBD for IN half PDT the DT sales NNS rise NN , , TRW NNP said VBD   . .
Operating NN profit NN rose VBD threefold RB to TO $ $ 18 CD million CD  , , from IN $ $ 6 CD million CD  . .
For IN the DT nine CD months NNS , , TRW NNP 's POS net NN was VBD $ $ 199 CD million CD  , , or CC $ $ 3.22 CD  a DT share NN , , down RB 3 CD % NN from IN $ $ 205 CD million CD  , , or CC $ $ 3.33 CD  a DT share NN , , a DT year NN earlier RB . .
Sales NNS rose VBD 2.9 CD % NN to TO $ $ 5.42 CD billion CD  , , from IN $ $ 5.27 CD billion CD  . .
a DT tragicomic JJ monologue NN by IN an DT idealistic JJ , , not RB unheroic JJ , , though IN sadly RB self-deceived JJ English JJ butler NN in IN his PRP$ sixties NNS -- : proceeds VBZ as IN if IN the DT realistic JJ English JJ novel NN of IN manners NNS , , like IN Britannia NNP herself PRP , , still RB ruled VBD the DT waves NNS . .
In IN fact NN , , Kazuo NNP Ishiguro NNP 's POS `` `` The DT Remains NNS of IN the DT Day NN '' '' -LRB- -LRB- Knopf NNP , , 245 CD pages NNS , , $ $ 18.95 CD  -RRB- -RRB- is VBZ both DT an DT homage NN to TO traditional JJ English JJ forms NNS and CC a DT dramatic JJ critique NN of IN them PRP . .
It PRP implies VBZ that IN the DT British NNP Empire NNP was VBD rooted VBN  in IN its PRP$ subjects NNS ' POS minds NNS , , manners NNS and CC morals NNS , , and CC argues VBZ , , tacitly RB , , that IN its PRP$ self-destructive JJ flaws NNS were VBD embodied VBN  in IN the DT defensive JJ snobbery NN , , willful JJ blindness NN , , role-playing NN and CC especially RB the DT locutions NNS of IN its PRP$ domestic JJ servants NNS . .
As IN the DT narrator NN Stevens NNP , , the DT solitary JJ butler NN of IN Darlington NNP Hall NNP , , mulls VBZ over IN such JJ hallowed JJ terms NNS as IN `` `` greatness NN , , '' '' `` `` dignity NN , , '' '' `` `` service NN '' '' and CC `` `` loyalty NN , , '' '' we PRP see VBP how WRB pious JJ cant NN subverts VBZ the DT soul NN  . .
Stevens NNP 's POS dutiful JJ conflation NN of IN the DT public JJ and CC private JJ realms NNS -- : like IN his PRP$ beloved JJ master NN 's POS -- : destroys VBZ all DT  it PRP was VBD designed VBN  to TO preserve VB  . .
Such JJ armor NN crushes VBZ the DT soldier NN . .
The DT mask NN cuts VBZ to TO the DT quick JJ . .
It PRP 's VBZ 1956 CD , , the DT year NN  the DT Suez NNP crisis NN marked VBD the DT final JJ end NN of IN Empire NN  . .
As IN he PRP stands VBZ on IN a DT hill NN at IN the DT beginning NN of IN a DT six-day JJ motor NN expedition NN from IN Oxfordshire NNP to TO Cornwall NNP , , where WRB a DT former JJ housekeeper NN   resides VBZ  , , perhaps RB the DT victim NN of IN an DT unhappy JJ 20-year JJ marriage NN , , perhaps RB -LRB- -LRB- he PRP hopes VBZ with IN more JJR fervor NN than IN he PRP will MD ever RB acknowledge VB -RRB- -RRB- not RB disinclined JJ  to TO return VB to TO domestic JJ service NN , , Stevens NNP surveys NNS the DT view NN and CC thereby RB provides VBZ a DT self-portrait NN , , a DT credo NN and CC the DT author NN 's POS metaphor NN for IN the DT aesthetic NN of IN the DT novel NN  we PRP 're VBP reading VBG  : :
`` `` We PRP call VBP this DT land NN of IN ours JJ Great NNP Britain NNP , , and CC there EX may MD be VB those DT who WP  believe VBP this DT a DT somewhat RB immodest JJ practice NN . .
Yet RB I PRP would MD venture VB that IN the DT landscape NN of IN our PRP$ country NN alone RB would MD justify VB the DT use NN of IN this DT lofty JJ adjective NN ... : . .
It PRP is VBZ the DT very JJ lack NN of IN obvious JJ drama NN or CC spectacle NN that WDT  sets VBZ the DT beauty NN of IN our PRP$ land NN apart RB . .
What WP  is VBZ pertinent JJ is VBZ the DT calmness NN of IN that DT beauty NN , , its PRP$ sense NN of IN restraint NN . .
It PRP is VBZ as IN though IN the DT land NN knows VBZ of IN its PRP$ own JJ beauty NN , , of IN its PRP$ own JJ greatness NN , , and CC feels VBZ no DT need NN  to TO shout VB it PRP . .
In IN comparison NN , , the DT sorts NNS of IN sights NNS offered VBN  in IN such JJ places NNS as IN Africa NNP and CC America NNP , , though IN undoubtedly RB very RB exciting JJ , , would MD , , I PRP am VBP sure JJ , , strike VB the DT objective JJ viewer NN as IN inferior JJ on IN account NN of IN their PRP$ unseemly JJ demonstrativeness NN . . '' ''
An DT effusive JJ landscape NN ? .
An DT ill-mannered JJ mountain NN ? .
But CC  let VB Stevens NNP continue VB in IN his PRP$ unwitting JJ comic JJ manner NN -LRB- -LRB- his PRP$ conscious JJ efforts NNS at IN `` `` banter NN '' '' always RB fail VB -- : most RBS comically RB -RRB- -RRB- : : `` `` This DT whole JJ question NN is VBZ very RB akin JJ to TO the DT question NN that WDT  has VBZ caused VBN much JJ debate NN in IN our PRP$ profession NN over IN the DT years NNS : : what WP  is VBZ a DT ` `` great JJ ' '' butler NN ? . '' ''
His PRP$ answer NN is VBZ one NN `` `` possessed VBN  of IN a DT dignity NN in IN keeping VBG with IN his PRP$ position NN . . '' ''
Such JJ dignity NN `` `` has VBZ  to TO do VB crucially RB with IN a DT butler NN 's POS ability NN  not RB to TO abandon VB the DT professional JJ being NN  he PRP inhabits VBZ  . . '' ''
He PRP `` `` will MD not RB be VB shaken VBN  out RP by IN external JJ events NNS , , however RB surprising JJ , , alarming JJ or CC vexing JJ ... : . .
Continentals NNS are VBP unable JJ  to TO be VB butlers NNS because IN they PRP are VBP as IN a DT breed NN incapable JJ of IN the DT emotional JJ restraint NN which WDT only RB the DT English JJ race NN are VBP capable JJ of IN  . . '' ''
Despite IN his PRP$ racial JJ advantage NN , ,  to TO be VB a DT great JJ butler NN is VBZ a DT heroic JJ calling NN ; : one PRP 's POS pantry NN is VBZ `` `` not RB unlike IN general NN 's POS headquarters NN during IN a DT battle NN . . '' ''
If IN , , for IN example NN , , in IN the DT midst NN of IN a DT great JJ social JJ occasion NN -LRB- -LRB- such JJ as IN an DT international JJ conference NN on IN  revising VBG the DT Versailles NNP Treaty NNP in IN 1923 CD -RRB- -RRB- , , one PRP 's POS 72-yearold CD father NN , , himself PRP a DT great JJ butler NN once RB , , should MD happen VB  to TO die VB of IN a DT stroke NN , , one PRP must MD continue VB  to TO serve VB the DT port NN : : `` `` Please VB  do VBP n't RB think VB me PRP unduly RB improper JJ in IN  not RB ascending VBG  to TO see VB my PRP$ father NN in IN his PRP$ deceased JJ condition NN just RB at IN this DT moment NN . .
You PRP see VBP , , I PRP know VBP  my PRP$ father NN would MD have VB wished VBD me PRP to TO carry VB on RP just RB now RB . . '' ''
It PRP is VBZ this DT kind NN of IN dignity NN and CC restraint NN that WDT  allows VBZ Stevens NNP to TO declare VB : : `` `` For IN all DT its PRP$ sad JJ associations NNS , , whenever WRB I PRP recall VBP that DT evening NN today NN  , , I PRP find VBP  I PRP do VBP so RB with IN a DT large JJ sense NN of IN triumph NN . . '' ''
We PRP note VBP the DT imperial JJ public JJ word NN used VBN   to TO deny VB private JJ rage NN and CC sorrow NN . .
That IN Stevens NNP himself PRP is VBZ not RB grotesque JJ or CC repellent JJ , , but CC funny JJ and CC sad JJ and CC enlightening JJ , , is VBZ entirely RB the DT author NN 's POS triumph NN . .
Mr. NNP Ishiguro NNP 's POS ability NN  to TO create VB a DT fallible JJ narrative NN voice NN that WDT  permits VBZ him PRP to TO explore VB such JJ intertwining VBG domestic JJ , , cultural JJ and CC political JJ themes NNS was VBD abundantly RB clear JJ in IN his PRP$ previous JJ novel NN , , `` `` An DT Artist NN of IN the DT Floating JJ World NN , , '' '' set VBN  in IN Japan NNP after IN the DT war NN . .
Now RB  shifting VBG his PRP$ scene NN from IN the DT country NN  he PRP left VBD  at IN five CD to TO the DT England NNP  he PRP has VBZ lived VBN in IN  for IN nearly RB 30 CD years NNS , , he PRP has VBZ fashioned VBN a DT novel NN in IN the DT mode NN of IN Henry NNP James NNP and CC E.M. NNP Forster NNP . .
With IN great JJ aplomb NN he PRP considers VBZ not RB only RB filial JJ devotion NN and CC -LRB- -LRB- utterly RB repressed JJ -RRB- -RRB- sexual JJ love NN , , but CC British JJ anti-Semitism NNP , , the DT gentry NN 's POS impatience NN with IN democracy NN and CC support NN of IN Hitler NNP , , and CC the DT moral JJ problematics NNS of IN loyalty NN : : `` `` It PRP is VBZ , , in IN practice NN , , simply RB not RB possible JJ  to TO adopt VB such JJ a DT critical JJ attitude NN towards IN an DT employer NN and CC at IN the DT same JJ time NN provide VB good JJ service NN ... : . .
` `` This DT employer NN embodies VBZ all DT that IN I PRP find VBP  noble JJ and CC admirable JJ . .
I PRP will MD hereafter RB devote VB myself PRP to TO  serving VBG him PRP . .
' '' This DT is VBZ loyalty NN intelligently RB bestowed VBN  . . '' ''
In IN the DT end NN , , after IN  meeting NN with IN the DT former JJ housekeeper NN , , Stevens NNP sits VBZ by IN the DT seashore NN at IN dusk NN , ,  thinking VBG of IN her PRP and CC of IN his PRP$ employer NN , , and CC declares VBZ `` `` I PRP trusted VBD . .
I PRP trusted VBD in IN his PRP$ lordship NN 's POS wisdom NN ... : . .
I PRP ca MD n't RB even RB say VB  I PRP made VBD my PRP$ own JJ mistakes NNS . .
Really RB -- : one PRP has VBZ  to TO ask VB oneself PRP -- : what WP dignity NN is VBZ there RB  in IN that DT ? . '' ''
The DT loyal JJ servant NN has VBZ come VBN full JJ circle NN . .
What WP is VBZ greatness NN  ? .
What WP is VBZ dignity NN  ? .
We PRP understand VB  such JJ rueful JJ wisdom NN must MD be VB retrospective JJ : : The DT owl NN of IN Minerva NNP only RB spreads VBZ her PRP$ wings NNS at IN dusk NN . .
But CC as IN `` `` The DT Remains NNS of IN the DT Day NN '' '' so RB eloquently RB demonstrates VBZ with IN quiet JJ virtuosity NN , , such JJ wisdom NN can MD be VB movingly RB embodied VBN  in IN art NN . .
Mr. NNP Locke NNP teaches VBZ English NNP and CC comparative JJ literature NN at IN Columbia NNP University NNP . .
UGI NNP Corp. NNP said VBD  its PRP$ AmeriGas NNP subsidiary NN completed VBD the DT previously RB announced JJ sale NN of IN its PRP$ air NN separation NN plant NN and CC related JJ assets NNS in IN Waukesha NNP , , Wis. NNP , , to TO AGA NNP Gas NNP Inc. NNP , , Cleveland NNP . .
The DT price NN was VBD n't RB disclosed VBN  . .
The DT transaction NN is VBZ part NN of IN UGI NNP 's POS continuing VBG program NN  to TO shed VB AmeriGas NNP 's POS industrial JJ gas NN interests NNS and CC expand VB the DT subsidiary NN 's POS propane NN business NN . .
Since IN June NNP , , AmeriGas NNP has VBZ netted VBN more JJR than IN $ $ 100 CD million CD  from IN industrial JJ gas NN divestitures NNS and CC reinvested VBD more JJR than IN $ $ 50 CD million CD   to TO acquire VB three CD propane NN distributors NNS . .
UGI NNP is VBZ a DT gas NN and CC electric JJ utility NN and CC distributes VBZ propane NN nationally RB through IN its PRP$ AmeriGas NNP subsidiary NN . .
Stanislav NNP Ovcharenko NNP , , who WP  represents VBZ the DT Soviet JJ airline NN Aeroflot NNP here RB , , has VBZ some DT visions NNS that WDT  are VBP wild JJ even RB by IN the DT current JJ standards NNS of IN perestroika FW . .
In IN his PRP$ office NN overlooking VBG the DT runway NN of IN Shannon NNP Airport NNP , , Mr. NNP Ovcharenko NNP enthusiastically RB throws VBZ out RP what WP he PRP calls VBZ  `` `` just RB ideas NNS '' '' : :
First RB , , he PRP suggests VBZ   , , GPA NNP Group NNP Ltd. NNP , , the DT international JJ aircraft NN leasing NN company NN based VBN  in IN Ireland NNP , , could MD lease VB some DT of IN its PRP$ Boeing NNP jetliners NNS to TO the DT Soviet JJ airline NN . .
Then RB Aer NNP Lingus NNP , , the DT Irish JJ flag NN carrier NN , , could MD teach VB Aeroflot NNP pilots NNS  to TO fly VB the DT Boeings NNPS , , and CC the DT fleet NN could MD be VB based VBN  here RB at IN Shannon NNP Airport NNP . .
That DT 's VBZ not RB all DT , , he PRP says VBZ   . .
Aer NNP Rianta NNP , , the DT Irish JJ airport NN authority NN , , could MD build VB a DT cargo NN terminal NN in IN the DT Soviet NNP Union NNP . .
Aeroflot NNP could MD lease VB some DT of IN its PRP$ cargo NN planes NNS to TO Aer NNP Lingus NNP , , through IN GPA NNP , , for IN a DT joint-venture NN cargo NN airline NN . .
And CC then RB there EX is VBZ his PRP$ notion NN of IN an DT Irish-Soviet JJ charter NN airline NN   to TO ferry VB Armenians NNPS to TO Los NNP Angeles NNP via IN Shannon NNP . .
Have VBP the DT freedoms NNS of IN glasnost FW gone VBN to TO Mr. NNP Ovcharenko NNP 's POS head NN ? .
Hardly RB . .
The DT Irish-Soviet JJ aviation NN connection NN is VBZ alive JJ and CC well JJ here RB at IN Shannon NNP Airport NNP . .
GPA NNP is VBZ indeed RB talking VBG about IN  leasing VBG Western JJ planes NNS to TO Aeroflot NNP and CC even RB about IN  buying VBG Soviet-built JJ Tupolev NNP 204s NNS . .
Aer NNP Lingus NNP is VBZ in IN discussions NNS with IN the DT Soviet JJ carrier NN about IN a DT cargo NN venture NN and CC other JJ possibilities NNS . .
Aer NNP Rianta NNP already RB has VBZ so RB many JJ ventures NNS with IN Aeroflot NNP that IN its PRP$ chief JJ executive NN is VBZ studying VBG Russian NNP . .
 Unlikely RB as IN it PRP may MD seem VB  , , tiny JJ , , politically RB neutral JJ Ireland NNP has VBZ penetrated VBN the DT mighty JJ Soviet JJ airline NN bureaucracy NN . .
And CC as IN Aeroflot NNP struggles VBZ  to TO boost VB its PRP$ service NN standards NNS , , upgrade VB its PRP$ fleet NN and CC pursue VB commercial JJ opportunities NNS , , the DT Irish JJ aviation NN industry NN seems VBZ poised VBN  to TO benefit VB . .
`` `` Irish JJ and CC Soviet JJ people NNS are VBP similar JJ , , '' '' says VBZ  Mr. NNP Ovcharenko NNP . .
`` `` They PRP look VBP the DT same JJ . .
They PRP 're VBP very RB friendly JJ . . '' ''
Moreover RB , , he PRP says VBZ   , , Irish JJ companies NNS are VBP small JJ but CC spunky NN . .
`` `` We PRP have VBP  to TO study VB their PRP$ experience NN very RB well RB , , '' '' he PRP says VBZ  . .
`` `` We PRP must MD find VB any DT way NN   to TO get VB business NN  . . '' ''
The DT two CD groups NNS have VBP been VBN working VBG together RP since IN the DT late JJ 1970s NNS , , long RB before IN Soviet JJ joint NN ventures NNS were VBD the DT rage NN in IN the DT West NNP . .
Aeroflot NNP carried VBD about IN 125 CD million CD passengers NNS last JJ year NN , , and CC Shannon NNP Airport NNP , , the DT airline NN 's POS largest JJS transit NN airport NN outside IN the DT Soviet NNP Union NNP , , saw VBD 1,400 CD Aeroflot NNP flights NNS and CC 250,000 CD passengers NNS pass VB through RB . .
An DT apartment NN complex NN down IN the DT road NN is VBZ the DT crew-rest NN and CC staging NN area NN for IN more JJR than IN 130 CD Aeroflot NNP pilots NNS and CC flight NN attendants NNS . .
The DT airport NN 's POS biggest JJS supplier NN of IN aircraft NN fuel NN is VBZ the DT Soviet NNP Union NNP . .
Tankers NNS from IN the DT Latvian JJ port NN of IN Ventspils NNP each DT year NN unload VBP 25 CD million CD gallons NNS of IN fuel NN into IN a DT special JJ tank NN farm NN at IN the DT airport NN . .
What WP Aeroflot NNP does VBZ n't RB pour VB  into IN its PRP$ own JJ gas-guzzling JJ Ilyushins NNPS is VBZ bartered VBN  to TO the DT airport NN authority NN , , which WDT  resells VBZ it PRP to TO 11 CD Western JJ carriers NNS including VBG Air NNP France NNP , , Trans NNP World NNP Airlines NNPS and CC Pakistan NNP International NNP Airlines NNPS . .
Aeroflot NNP thus RB pays VBZ its PRP$ landing NN fees NNS , , ground-handling NN and CC catering NN bills NNS with IN fuel NN , ,  preserving VBG its PRP$ hard JJ currency NN . .
That DT is VBZ n't RB all DT . .
Last JJ year NN , , the DT Irish JJ airport NN authority NN , , in IN a DT joint JJ venture NN with IN Aeroflot NNP , , opened VBD four CD hard-currency JJ duty-free JJ shops NNS at IN Moscow NNP 's POS Sheremetyevo NNP Airport NNP . .
Aer NNP Rianta NNP now RB manages VBZ duty-free JJ sales NNS on IN all DT Aeroflot NNP international JJ flights NNS out IN of IN Moscow NNP . .
Duty-free JJ shops NNS in IN Leningrad NNP 's POS Pulkova NNP Airport NNP opened VBN in IN July NNP , , and CC hard-currency JJ shops NNS in IN Leningrad NNP hotels NNS and CC on IN the DT Soviet-Finnish JJ frontier NN are VBP coming VBG soon RB . .
Aer NNP Rianta NNP is VBZ talking VBG about IN similar JJ joint JJ ventures NNS in IN Tashkent NNP and CC in IN Sochi NNP , , a DT Black NNP Sea NNP resort NN , , and CC even RB has VBZ a DT computer-assembly NN project NN cooking VBG with IN the DT Georgian JJ city NN of IN Tbilisi NNP . .
Aeroflot NNP 's POS international JJ fleet NN of IN 285 CD planes NNS is VBZ being VBG repainted VBN and CC refurbished VBN  at IN Shannon NNP Airport NNP . .
 Thanks NNS to TO a DT new JJ air-traffic NN agreement NN and CC the DT ability NN  of IN Irish JJ travel NN agents NNS  to TO issue VB Aeroflot JJ tickets NNS , , tourists NNS here RB are VBP taking VBG advantage NN of IN Aeroflot NNP 's POS reasonable JJ prices NNS  to TO board VB flights NNS in IN Shannon NNP for IN holidays NNS in IN Havana NNP , , Kingston NNP and CC Mexico NNP City NNP . .
The DT round-trip NN fare NN to TO Havana NNP is VBZ 410 CD Irish JJ punts NNS -LRB- -LRB- $ $ 578 CD  -RRB- -RRB- . .
Jamaica NNP costs VBZ 504 CD punts NNS . .
A DT formal JJ blessing NN of IN sorts NNS was VBD bestowed VBN  on IN this DT friendship NN in IN April NNP when WRB Mikhail NNP and CC Raisa NNP Gorbachev NNP stopped VBD here RB for IN talks NNS with IN Irish JJ Prime NNP Minister NNP Charles NNP Haughey NNP  . .
New JJ trade NN accords NNS were VBD signed VBN  . .
It PRP all DT started VBN with IN geography NN . .
When WRB it PRP opened VBN in IN 1939 CD  , , Shannon NNP was VBD the DT first JJ landfall NN in IN Europe NNP for IN thirsty JJ airplanes NNS flying VBG from IN North NNP America NNP . .
Advances NNS in IN aircraft NN fuel NN efficiency NN over IN the DT years NNS made VBD a DT Shannon NNP stop NN unnecessary JJ for IN most JJS Western JJ air NN fleets VBZ , , but CC Aeroflot NNP still RB flies VBZ inefficient JJ Ilyushins NNPS that WDT  ca MD n't RB make VB it PRP from IN Moscow NNP to TO Managua NNP on IN one CD hop NN . .
As IN a DT result NN , , Ireland NNP did VBD n't RB spurn VB the DT Soviets NNPS after IN they PRP shot VBD down RP a DT Korean NNP Air NNP Lines NNP jetliner NN over IN the DT Sea NNP of IN Japan NNP in IN 1983 CD , , though IN it PRP suspended VBD direct JJ Moscow-Shannon JJ flights NNS for IN two CD months NNS . .
In IN fact NN , , Aer NNP Lingus NNP started VBD  ferrying VBG Russians NNPS from IN Shannon NNP to TO New NNP York NNP when WRB Washington NNP stripped VBD Aeroflot NNP of IN its PRP$ U.S. NNP landing NN rights NNS  . .
Today NN , , Aer NNP Rianta NNP is VBZ making VBG a DT heap NN of IN money NN from IN its PRP$ Soviet NNP friendship NN . .
And CC , , with IN those DT contacts NNS in IN place NN , , it PRP  could MD be VB relatively RB simple JJ  to TO add VB Aer NNP Lingus NNP and CC GPA NNP to TO the DT team NN . .
Then RB , , perhaps RB , , Mr. NNP Ovcharenko NNP 's POS ideas NNS would MD n't RB sound VB like IN so RB much JJ blarney NN . .
Britain NNP 's POS industrial JJ production NN rose VBD 1.5 CD % NN in IN August NNP from IN July NNP and CC was VBD up IN 0.9 CD % NN from IN August NNP 1988 CD , , according VBG to TO provisional JJ data NNS from IN the DT Central NNP Statistical NNP Office NNP . .
Output NN in IN the DT energy NN sector NN , , which WDT  can MD vary VB greatly RB with IN swings NNS in IN the DT oil NN market NN , , rose VBD 3.8 CD % NN in IN August NNP from IN May NNP but CC was VBD down RB 7.1 CD % NN from IN a DT year NN earlier RB . .
The DT latest JJS figures NNS compare VBP with IN July NNP 's POS 4.5 CD % NN month-to-month JJ rise NN and CC 11.3 CD % NN year-to-year JJ fall NN . .
When WRB Nucor NNP Corp. NNP begins VBZ  shipping VBG steel NN from IN the DT world NN 's POS first JJ thin-slab JJ plant NN this DT month NN  , , it PRP will MD begin VB  testing VBG the DT competitive JJ mettle NN of IN its PRP$ giant JJ competitors NNS . .
The DT new JJ technology NN , , which WDT  creates VBZ a DT very RB thin JJ piece NN of IN steel NN , , radically RB reduces VBZ the DT costs NNS of IN  making VBG flat-rolled JJ sheets NNS . .
An DT ebullient JJ Kenneth NNP Iverson NNP , , Nucor NNP 's POS chairman NN , , says VBZ  the DT company NN 's POS plant NN eventually RB will MD make VB a DT ton NN of IN steel NN in IN 1.5 CD man NN hours NNS , , compared VBN with IN four CD to TO six CD man NN hours NNS at IN a DT conventional JJ mill NN . .
`` `` We PRP 've VBP had VBD the DT Russians NNPS and CC Chinese NNPS , , and CC people NNS from IN India NNP visiting VBG us PRP , , '' '' Mr. NNP Iverson NNP beams VBZ  . .
`` `` Everyone NN in IN the DT world NN is VBZ watching VBG us PRP very RB closely RB . . '' ''
Especially RB his PRP$ neighbors NNS , , the DT major JJ U.S. NNP steelmakers NNS . .
Already RB , , USX NNP Corp. NNP and CC Armco NNP Inc. NNP are VBP studying VBG Nucor NNP 's POS technology NN  to TO see VB if IN they PRP can MD adopt VB it PRP . .
Says VBZ  the DT chief JJ executive NN officer NN of IN a DT major JJ Midwest NNP steel NN company NN : : `` `` It PRP 's VBZ damn RB worrisome JJ . . '' ''
The DT once-staid JJ steel NN industry NN is VBZ about IN  to TO be VB turned VBN  topsy-turvy RB by IN a DT 1990s NNS technology NN revolution NN . .
New JJ , , efficient JJ and CC sophisticated JJ processes NNS make VBP it PRP  easier RBR for IN smaller JJR , , less RBR cash-rich JJ companies NNS to TO make VB steel NN at IN a DT fraction NN of IN what WP Big NNP Steel NNP paid VBD  decades NNS ago RB . .
It PRP also RB enables VBZ minimills NNS finally RB to TO get VB a DT toehold NN in IN the DT flat-rolled JJ steel NN market NN -- : the DT major JJ steelmakers NNS ' POS largest JJS , , most RBS prized JJ , , and CC until IN now RB , , untouchable JJ , , market NN . .
But CC such JJ thin-slab JJ technology NN is VBZ only RB the DT beginning NN . .
Eager JJ engineers NNS espouse VBP direct-steelmaking NN and CC direct JJ casting NN , , which WDT by IN the DT end NN of IN the DT 1990s NNS  will MD enable VB production NN without IN coke NN ovens NNS and CC blast NN furnaces NNS . .
Those DT massive JJ structures NNS , , while IN  posing VBG cost NN and CC environmental JJ headaches NNS , , effectively RB locked VBD out RP all DT but CC deep-pocketed JJ giants NNS from IN steelmaking NN . .
`` `` There EX 's VBZ a DT revolution NN ahead RB of IN us PRP that WDT  will MD ultimately RB change VB the DT way NN  we PRP market VBP and CC distribute VBP steel NN  , , '' '' says VBZ  William NNP Dennis NNP , , vice NN president NN , , manufacturing NN and CC technology NN , , for IN the DT American NNP Iron NNP Ore NNP and CC Steel NNP Institute NNP . .
It PRP is VBZ n't RB that RB major JJ steelmakers NNS have VBP blithely RB ignored VBN high JJ technology NN . .
In IN fact NN , , they PRP 've VBP spent VBN billions NNS of IN dollars NNS  to TO boost VB the DT percentage NN of IN continously RB cast VBN steel NN to TO 60.9 CD % NN in IN 1988 CD , , from IN 39.6 CD % NN five CD years NNS before RB . .
Moreover RB , , their PRP$ balance NN sheets NNS are VBP rich JJ with IN diversity NN , , their PRP$ old JJ plants NNS shuttered JJ , , and CC work NN forces NNS lean JJ . .
But CC that DT wo MD n't RB suffice VB . .
`` `` It PRP  's VBZ no RB longer RB enough JJ  to TO beat VB the DT guy NN down IN the DT street NN . .
You PRP have VBP  to TO beat VB everyone NN around IN the DT world NN , , '' '' says VBZ  Mr. NNP Dennis NNP . .
He PRP wants VBZ  to TO see VB steelmakers NNS more RBR involved JJ in IN computers NNS and CC artificial JJ intelligence NN . .
The DT problem NN : : They PRP 're VBP saddled VBN with IN huge JJ plants NNS that WDT  require VBP costly JJ maintenance NN . .
And CC  try VB plying VBG new JJ dollars NNS free RB in IN a DT market NN that WDT  is VBZ softening VBG , , hurt JJ  by IN a DT strong JJ dollar NN and CC concerned JJ about IN overcapacity NN -- : the DT industry NN 's POS Darth NNP Vadar NNP . .
`` `` The DT technology NN revolution NN is VBZ going VBG  to TO be VB very RB threatening JJ to TO established JJ producers NNS , , '' '' says VBZ  Peter NNP Marcus NNP , , an DT analyst NN with IN PaineWebber NNP Inc NNP . .
`` `` They PRP 've VBP got VBN too RB much RB invested VBN  in IN the DT old JJ stuff NN and CC they PRP ca MD n't RB get VB their PRP$ workers NNS to TO be VB flexible JJ . . '' ''
No DT one NN expects VBZ minimills NNS to TO eclipse VB major JJ integrated JJ steelmakers NNS , , who WP  remain VBP the DT undisputed JJ kings NNS of IN highest-quality JJS steel NN used VBN  for IN autos NNS and CC refrigerators NNS . .
Nucor NNP 's POS plant NN in IN Crawfordsville NNP , , Ind. NNP , , ultimately RB will MD produce VB only RB one CD million CD tons NNS  annually RB , , a DT drop NN in IN the DT 40-million-ton-a-year JJ flat-rolled JJ steel NN bucket NN , , and CC it PRP will MD be VB years NNS before IN such JJ plants NNS can MD compete VB in IN the DT high-profit JJ market NN . .
Still RB , , flat-rolled JJ is VBZ the DT steel NN industry NN 's POS bread NN and CC butter NN , ,  representing VBG about IN half NN of IN the DT 80 CD million CD tons NNS of IN steel NN expected VBN  to TO be VB shipped VBN  this DT year NN . .
Moreover RB , , the DT process NN is VBZ n't RB without IN its PRP$ headaches NNS . .
Because IN all DT operations NNS are VBP connected VBN  , , one CD equipment NN failure NN forces VBZ a DT complete JJ plant NN shutdown NN . .
On IN some DT days NNS , , the DT Nucor NNP plant NN does VBZ n't RB produce VB anything NN . .
`` `` At IN this DT point NN , , the DT minimill NN capacity NN wo MD n't RB make VB a DT great JJ dent NN in IN the DT integrated JJ market NN , , but CC it PRP does VBZ challenge VB them PRP  to TO develop VB new JJ markets NNS , , '' '' says VBZ  James NNP McCall NNP , , vice NN president NN , , materials NNS , , at IN Battelle NNP , , a DT technology NN and CC management-research NN giant NN based VBN  in IN Columbus NNP , , Ohio NNP . .
Indeed RB , , with IN demand NN for IN steel NN not RB growing VBG fast RB enough RB  to TO absorb VB capacity NN , , steelmakers NNS will MD have VB  to TO change VB the DT way NN  they PRP do VBP business NN  . .
In IN the DT past NN , , says VBZ   Armco NNP 's POS chief JJ economist NN John NNP Corey NNP , , steelmakers NNS made VBD a DT product NN and CC set VBD it PRP out RP on IN the DT loading NN dock NN . .
`` `` We PRP said VBD : : ` `` We PRP 've VBP got VBN a DT product NN : : if IN you PRP want VBP it PRP , , you PRP can MD buy VB it PRP , , ' '' '' '' he PRP says VBZ  , ,  adding VBG : : `` `` Now RB we PRP 're VBP figuring VBG out RP what WP people NNS need VBP  , , and CC are VBP going VBG back RP  to TO make VB it PRP . . '' ''
Armco NNP 's POS sales NNS representatives NNS visit VBP the DT General NNP Motors NNP Corp. NNP 's POS Fairfax NN assembly NN plant NN in IN Kansas NNP City NNP , , Mo. NNP , , two CD or CC three CD days NNS a DT week NN . .
When WRB they PRP determined VBD that IN GM NNP needed VBD parts NNS more RBR quickly RB , , Armco NNP convinced VBD a DT steel NN service NN center NN to TO build VB a DT processing NN plant NN nearby RB so IN shipments NNS could MD be VB delivered VBN  within IN 15 CD minutes NNS . .
 Cementing VBG such JJ relationships NNS with IN major JJ clients NNS -- : car NN and CC appliance NN makers NNS -- : is VBZ a DT means NN of IN survival NN , , especially RB when WRB those DT key JJ clients NNS are VBP relying VBG on IN a DT smaller JJR pool NN of IN producers NNS  and CC flirting VBG with IN plastic NN and CC aluminum NN makers NNS  . .
For IN example NN , , when WRB Detroit NNP began VBD  talking VBG about IN plastic-bodied JJ cars NNS  , , the DT American NNP Iron NNP and CC Steel NNP Institute NNP began VBD a DT major JJ lobbying NN effort NN  to TO show VB auto NN makers NNS how WRB they PRP could MD use VB steel NN more RBR efficiently RB by IN  simply RB redesigning VBG how WRB a DT car NN door NN is VBZ assembled VBN    . .
But CC steelmakers NNS must MD also RB find VB new JJ markets NNS . .
After IN  letting VBG aluminum-makers NNS take VB the DT recycling NN lead NN , , a DT group NN of IN the DT nation NN 's POS largest JJS steelmakers NNS started VBD a DT recycling NN institute NN  to TO promote VB steel NN cans NNS to TO an DT environmentally RB conscious JJ nation NN . .
Battelle NNP 's POS Mr. NNP McCall NNP thinks VBZ  steelmakers NNS should MD concentrate VB more RBR on IN construction NN . .
Weirton NNP Steel NNP Corp. NNP , , Weirton NNP , , W. NNP Va. NNP , , for IN example NN , , is VBZ touting VBG to TO homeowners NNS fashionable JJ steel NN doors NNS , , with IN leaded JJ glass NN inserts NNS , , as IN a DT secure JJ and CC energy-efficient JJ alternative NN to TO wooden JJ or CC aluminum JJ ones NNS . .
Other JJ steelmakers NNS envision VBP steel NN roofs NNS covering VBG suburbia NN . .
Still RB others NNS are VBP looking VBG at IN overseas JJ markets NNS . .
USX NNP is VBZ funneling VBG drilling NN pipe NN to TO steel-hungry JJ Soviet NNP Union NNP . .
This DT year NN , , the DT nation NN 's POS largest JJS steelmaker NN reactivated VBD its PRP$ overseas JJ sales NNS operation NN . .
Producers NNS also RB are VBP trying VBG  to TO differentiate VB by IN  concentrating VBG on IN higher-profit JJR output NN , , such JJ as IN coated JJ and CC electrogalvanized JJ products NNS , , which WDT  remain VBP beyond IN the DT reach NN of IN minimills NNS . .
Almost RB all DT capital-improvement NN programs NNS announced VBN  by IN major JJ steelmakers NNS within IN the DT past NN year NN involve VBP  building VBG electrogalvanizing VBG lines NNS , , used VBN   to TO produce VB steel NN for IN such JJ products NNS as IN household NN appliances NNS and CC car NN doors NNS . .
But CC unfortunately RB , , that IN segment NN is VBZ much RB smaller JJR than IN the DT bread-and-butter JJ flat-rolled JJ steel NN . .
`` `` It PRP 's VBZ like IN everyone NN climbing VBG out IN of IN the DT QE NNP II NNP and CC getting VBG into IN a DT lifeboat NN , , '' '' says VBZ  John NNP Jacobson NNP , , an DT analyst NN with IN AUS NNP Consultants NNP . .
`` `` After IN a DT while NN , , someone NN has VBZ  to TO go VB over IN the DT side NN . . '' ''
Although IN he PRP does VBZ n't RB expect VB any DT bankruptcies NNS , , he PRP does VBZ see VB more JJR plants NNS being VBG sold VBN or CC closed VBN  . .
Robert NNP Crandall NNP , , with IN the DT Brookings NNP Institute NNP , , agrees VBZ . .
`` `` Unless IN there EX is VBZ an DT enormous JJ rate NN of IN economic JJ growth NN or CC a DT further JJR drop NN in IN the DT dollar NN , , it PRP 's VBZ unlikely JJ that IN consumption NN of IN U.S. NNP produced VBN steel NN will MD grow VB sufficiently RB  to TO offset VB the DT growth NN of IN minimills NNS . . '' ''
Not RB to TO mention VB the DT incursion NN of IN imports NNS . .
Japanese JJ and CC European JJ steelmakers NNS , , which WDT  have VBP led VBN the DT recent JJ technology NN developments NNS , , are VBP anxiously RB awaiting VBG the DT lifting NN of IN trade NN restraints NNS in IN 1992 CD . .
Moreover RB , , the DT U.S. NNP can MD expect VB more JJR competition NN from IN low-cost JJ producing VBG Pacific NNP Rim NNP and CC Latin JJ American JJ countries NNS . .
A DT Taiwanese JJ steelmaker NN recently RB announced VBD plans NNS  to TO build VB a DT Nucor-like JJ plant NN . .
`` `` People NNS think VBP of IN the DT steel NN business NN as IN an DT old JJ and CC mundane JJ smokestack NN business NN , , '' '' says VBZ  Mr. NNP Iverson NNP . .
`` `` They PRP 're VBP dead RB wrong JJ . . '' ''
\* SYM USX NNP , , LTV NNP , , Bethlehem NNP , , Inland NNP , , Armco NNP , , National NNP Steel NNP
\*\* SYM Projected VBN
Polaroid NNP Corp. NNP 's POS patent-infringement NN damages NNS case NN against IN Eastman NNP Kodak NNP Co. NNP , , one CD of IN the DT highest JJS stakes NNS corporate JJ trials NNS ever RB , , is VBZ getting VBG scant JJ attention NN on IN Wall NNP Street NNP . .
After IN 78 CD days NNS of IN mind-numbing JJ testimony NN in IN federal JJ court NN in IN Boston NNP , , the DT trial NN is VBZ being VBG all DT but CC ignored VBN  by IN analysts NNS and CC patent NN attorneys NNS . .
Most JJS have VBP read VBN the DT pre-trial NN documents NNS , , however RB , , and CC estimate VBP  Kodak NNP will MD be VB ordered VBN  to TO pay VB $ $ 1 CD billion CD to TO $ $ 1.5 CD billion CD  for IN  infringing VBG on IN seven CD Polaroid NNP patents NNS . .
That DT may MD be VB the DT largest JJS patent NN award NN ever RB , , but CC it PRP is VBZ well RB below IN the DT $ $ 12 CD billion CD   Polaroid NNP seeks VBZ  . .
The DT highest JJS patent NN damage NN award NN to TO date NN was VBD in IN 1986 CD , , when WRB Smith NNP International NNP Inc. NNP was VBD ordered VBN  to TO pay VB $ $ 205 CD million CD  to TO Baker NNP Hughes NNP Inc. NNP for IN  infringing VBG on IN a DT patent NN on IN an DT oil NN drilling NN bit NN seal NN . .
The DT two CD companies NNS later RB agreed VBD  to TO settle VB for IN $ $ 95 CD million CD  . .
Few JJ analysts NNS think VBP  it PRP  is VBZ worth JJ their PRP$ time NN  to TO slog VB through IN the DT Polaroid NNP trial NN testimony NN . .
`` `` It PRP 's VBZ like IN  panning VBG for IN gold JJ outside NN of IN Grand NNP Central NNP Station NNP . .
You PRP might MD find VB something NN , , but CC the DT chances NNS are VBP low JJ , , '' '' said VBD  Michael NNP Ellman NNP , , an DT analyst NN at IN Wertheim NNP Schroder NNP & CC Co NNP . .
And CC Eugene NNP Glazer NNP , , an DT analyst NN at IN Dean NNP Witter NNP Reynolds NNP Inc. NNP , , said VBD : : `` `` If IN you PRP hired VBD an DT attorney NN   to TO be VB there RB all PDT the DT time NN and CC give VB you PRP a DT -LRB- -LRB- prediction NN -RRB- -RRB- of IN the DT eventual JJ award NN , , I PRP would MD be VB willing JJ  to TO bet VB that IN he PRP would MD be VB off RP '' '' by IN a DT lot NN . .
A DT 75-day JJ trial NN in IN the DT early JJ 1980s NNS determined VBD that DT Kodak NNP , , based VBN  in IN Rochester NNP , , N.Y. NNP , , infringed VBD on IN patents NNS of IN Polaroid NNP , , of IN Cambridge NNP , , Mass NNP . .
The DT main JJ issues NNS remaining VBG are VBP how WRB  to TO calculate VB damages NNS  and CC whether IN the DT infringement NN was VBD `` `` willful JJ and CC deliberate JJ . . '' ''
If IN so RB , , the DT damages NNS could MD be VB tripled VBN  . .
Two CD analysts NNS who WP  have VBP read VBN the DT transcripts NNS , , David NNP Nelson NNP of IN Shearson NNP Lehman NNP Hutton NNP Inc. NNP and CC Calvert NNP D. NNP Crary NNP , , a DT litigation NN analyst NN at IN Labe NNP , , Simpson NNP & CC Co. NNP , , think VBP  Judge NNP A. NN David NNP Mazzone NNP will MD decide VB in IN Kodak NNP 's POS favor NN on IN the DT `` `` willful JJ and CC deliberate JJ '' '' issue NN . .
Mr. NNP Crary NNP said VBD  testimony NN by IN Kodak NNP 's POS patent NN counsel NN , , Francis NNP T. NNP Carr NNP of IN Kenyon NNP & CC Kenyon NNP , , showed VBD that IN `` `` he PRP worked VBD with IN Kodak NNP continuously RB from IN the DT outset NN of IN the DT project NN '' '' in IN an DT effort NN  to TO avoid VB infringement NN . .
`` `` Carr NNP told VBD Kodak NNP on IN many JJ occasions NNS  to TO avoid VB various JJ features NNS because IN of IN Polaroid NNP 's POS patent NN positions NNS , , '' '' and CC Kodak NNP followed VBD his PRP$ advice NN in IN every DT instance NN , , Mr. NNP Crary NNP said VBD  . .
But CC Irving NNP Kayton NNP , , a DT patent NN expert NN at IN George NNP Mason NNP University NNP School NNP of IN Law NNP who WP  is VBZ familiar JJ with IN the DT case NN , , said VBD  the DT fact NN that IN seven CD patents NNS were VBD infringed VBN  `` `` suggests VBZ  that DT infringement NN was VBD willful JJ . .
It PRP  's VBZ difficult JJ  to TO be VB that IN consistently RB wrong JJ . . '' ''
Observers NNS also RB wonder VBP whether IN Judge NNP Mazzone NNP will MD use VB th