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+1	In an Oct. 19 review of `` The Misanthrope '' at Chicago 's Goodman Theatre ( `` Revitalized Classics Take the Stage in Windy City , '' Leisure & Arts ) , the role of Celimene , played by Kim Cattrall , was mistakenly attributed to Christina Haag	Ms. Haag plays Elianti
+5	BELL INDUSTRIES Inc. increased its quarterly to 10 cents from seven cents a share	The new rate will be payable Feb. 15
+1	The new rate will be payable Feb. 15	A record date has n't been set
+6	Solo woodwind players have to be creative if they want to work a lot , because their repertoire and audience appeal are limited	The oboist Heinz Holliger has taken a hard line about the problem : He commissions and splendidly interprets fearsome contemporary scores and does some conducting , so he does n't have to play the same Mozart and Strauss concertos over and over again
+8	Richard Stoltzman has taken a gentler , more audience-friendly approach	Years ago , he collaborated with the new music gurus Peter Serkin and Fred Sherry in the very countercultural chamber group Tashi , which won audiences over to dreaded contemporary scores like Messiaen 's `` Quartet for the End of Time
+8	and now goes on the road with piano , bass , a slide show , and a repertoire that ranges from light classical to light jazz to light pop , with a few notable exceptions	Just the thing for the Vivaldi-at-brunch set , the yuppie audience that has embraced New Age as its very own easy listening
+8	But you ca n't dismiss Mr. Stoltzman 's music or his motives as merely commercial and lightweight	He believes in what he plays , and he plays superbly
+6	He believes in what he plays , and he plays superbly	His recent appearance at the Metropolitan Museum , dubbed `` A Musical Odyssey , '' was a case in point
+8	His recent appearance at the Metropolitan Museum , dubbed `` A Musical Odyssey , '' was a case in point	It felt more like a party , or a highly polished jam session with a few friends , than a classical concert
+9	Clad in his trademark black velvet suit , the soft-spoken clarinetist announced that his new album , `` Inner Voices , '' had just been released , that his family was in the front row , and that it was his mother 's birthday , so he was going to play her favorite tune from the record	He launched into Saint-Saens 's `` The Swan '' from `` Carnival of the Animals , '' a favorite encore piece for cellists , with lovely , glossy tone and no bite
+5	And so it went through the first half : an ingeniously chosen potpourri of pieces , none longer than five minutes , none that would disturb or challenge a listener	Mr. Stoltzman introduced his colleagues : Bill Douglas , pianist/bassoonist/composer and an old buddy from Yale , and jazz bassist Eddie Gomez
+9	Mr. Stoltzman introduced his colleagues : Bill Douglas , pianist/bassoonist/composer and an old buddy from Yale , and jazz bassist Eddie Gomez	An improvisational section was built around pieces by Mr. Douglas , beginning with `` Golden Rain , '' a lilting , laid-back lead in to the uptempo `` Sky , '' which gave Mr. Stoltzman the opportunity to wail in a high register and show off his fleet fingers
+9	An improvisational section was built around pieces by Mr. Douglas , beginning with `` Golden Rain , '' a lilting , laid-back lead in to the uptempo `` Sky , '' which gave Mr. Stoltzman the opportunity to wail in a high register and show off his fleet fingers	Bach 's `` Air '' followed
+9	Bach 's `` Air '' followed	Mr. Stoltzman tied the composer in by proclaiming him `` the great improviser of the 18th century
+8	The end of the first half , however , brought what the standing-room-only crowd seemed to be waiting for : the pop singer Judy Collins , who appears on `` Inner Voices	Glamorous and pure-voiced as ever , Ms. Collins sang Joni Mitchell 's `` For Free '' -- about an encounter with a street-corner clarinetist , to which Mr. Stoltzman contributed a clarinet obligatto -- and Mr. Douglas 's lush setting of a Gaelic blessing , `` Deep Peace
+8	The end of the first half , however , brought what the standing-room-only crowd seemed to be waiting for : the pop singer Judy Collins , who appears on `` Inner Voices . '' Glamorous and pure-voiced as ever , Ms. Collins sang Joni Mitchell 's `` For Free '' -- about an encounter with a street-corner clarinetist , to which Mr. Stoltzman contributed a clarinet obligatto -- and Mr. Douglas 's lush setting of a Gaelic blessing , `` Deep Peace . '' `` Deep Peace '' also featured a slide show of lovely but predictable images of clouds , beaches , deserts , sunsets , etc	It was all too mellow to be believed , but they probably would have gotten away with it , had they not felt compelled to add Ms. Collins 's signature tune , `` Amazing Grace , '' and ask for audience participation
+2	It was all too mellow to be believed , but they probably would have gotten away with it , had they not felt compelled to add Ms. Collins 's signature tune , `` Amazing Grace , '' and ask for audience participation	That went over the permissible line for warm and fuzzy feelings
+5	Was this why some of the audience departed before or during the second half ? Or was it because Ms. Collins had gone	Either way it was a pity
+2	Mr. Stoltzman must have worried that his audience might not be able to take it	He warned us in advance that `` New York Counterpoint '' lasts 11 1/2 minutes
+9	He also unfortunately illustrated this intricate , jazzy tapestry with Mr. Pearson 's images , this time of geometric or repeating objects , in a kitschy mirroring of the musical structure that was thoroughly distracting from Mr. Reich 's piece and Mr. Stoltzman 's elegant execution of it	The rest of the concert was more straight jazz and mellow sounds written by Charlie Parker , Ornette Coleman , Bill Douglas and Eddie Gomez , with pictures for the Douglas pieces
+8	The rest of the concert was more straight jazz and mellow sounds written by Charlie Parker , Ornette Coleman , Bill Douglas and Eddie Gomez , with pictures for the Douglas pieces	It was enjoyable to hear accomplished jazz without having to sit in a smoke-filled club , but like the first half , much of it was easy to take and ultimately forgettable
+8	Is this the future of chamber music	but can audiences really enjoy them only if the music is purged of threatening elements , served up in bite-sized morsels and accompanied by visuals
+5	but can audiences really enjoy them only if the music is purged of threatening elements , served up in bite-sized morsels and accompanied by visuals	What 's next
+6	What 's next	Slides to illustrate Shostakovich quartets
+8	when its anti-Western ideology , financial corruption and top leadership got out of hand	The personal antics of agency Director Amadou-Mahtar M'Bow drew much attention , such as when several of his top aides were uncovered as KGB plants and ejected from France and when a mysterious office fire was set just before Congress sent accountants to trace U.S. funds
+2	but even his replacement , the more personally genial Spanish biochemist Federico Mayor , has had little success at achieving reforms	Several ridiculous projects continue , including the `` New International Economic Order , '' which means redistributionism from the West to pay for everyone else 's statism
+7	which means redistributionism from the West to pay for everyone else 's statism	The Orwellian `` New World Information Order '' would give government officials rights against the press ; journalists would be obliged to kowtow to their government , which would have licensing and censorship powers and , indeed , duties to block printing of `` wrong '' ideas
+1	which means redistributionism from the West to pay for everyone else 's statism	The Orwellian `` New World Information Order '' would give government officials rights against the press ; journalists would be obliged to kowtow to their government , which would have licensing and censorship powers and , indeed , duties to block printing of `` wrong '' ideas
+2	The Orwellian `` New World Information Order '' would give government officials rights against the press	journalists would be obliged to kowtow to their government , which would have licensing and censorship powers and , indeed , duties to block printing of `` wrong '' ideas
+6	UNESCO somehow converted the founding U.N. ideals of individual rights and liberty into `` peoples ' rights	Million-dollar conferences were held to chew on subjects such as `` ethical responsibilities of scientists in support of disarmament '' and `` the impact of the activities of transnational corporations
+6	that even the Soviets now wonder about an agency that seemed so congenial to them	but Soviet Foreign Minister Eduard Shevardnadze last year admitted , `` The exaggerated ideological approach undermined tolerance intrinsic to UNESCO
+8	UNESCO is now holding its biennial meetings in Paris to devise its next projects	Mr. Mayor 's hope that references to `` press freedom '' would survive unamended seems doomed to failure
+2	Mr. Mayor 's hope that references to `` press freedom '' would survive unamended seems doomed to failure	the current phrasing is `` educating the public and media to avoid manipulation
+8	Mr. Mayor 's hope that references to `` press freedom '' would survive unamended seems doomed to failure ; the current phrasing is `` educating the public and media to avoid manipulation	He has n't been able to replace the M'Bow cabal
+2	He has n't been able to replace the M'Bow cabal	Soviets remain in charge of education programs , a former head of an African military tribunal for executions is in charge of culture , and a hard-line Polish communist in exile directs the human-rights and peace division
+5	Soviets remain in charge of education programs , a former head of an African military tribunal for executions is in charge of culture , and a hard-line Polish communist in exile directs the human-rights and peace division	Of the agency 's 2,750 staff members , 230 are in the field working on actual projects , such as literacy and oceanographic research
+8	The position of the United States , which once contributed 25 % of the budget , is that nothing has changed	John Bolton , the assistant secretary of state for international organizations , told Congress that the continuing `` statist , restrictive , nondemocratic '' programs make rejoining any time soon `` extremely unlikely
+0	The position of the United States , which once contributed 25 % of the budget , is that nothing has changed.John Bolton , the assistant secretary of state for international organizations , told Congress that the continuing `` statist , restrictive , nondemocratic '' programs make rejoining any time soon `` extremely unlikely	This has n't much bothered the UNESCO delegates
+8	This is that the Reagan Revolution spanning Eastern Europe and Tiananmen Square shows the power of ideas unencumbered by international civil servants or government functionaries	Free markets , free minds and free elections have an appeal that seems to get muddled only when delivered through U.N. organizations -- which of course are made up largely of governments that fear these principles at home
+0	The Babelists of the United Nations are experts at obfuscation	This can have its purposes at times , but there 's no reason to cloud the importance and allure of Western concepts of freedom and justice
+2	This can have its purposes at times , but there 's no reason to cloud the importance and allure of Western concepts of freedom and justice	We can see plenty of reasons to stay out , and none to rejoin UNESCO
+2	That 's because the male part , the tassel , and the female , the ear , are some distance apart on the corn plant	In a labor-intensive process , the seed companies cut off the tassels of each plant , making it male sterile.They sow a row of male-fertile plants nearby , which then pollinate the male-sterile plants
+9	In a labor-intensive process , the seed companies cut off the tassels of each plant , making it male sterile	They sow a row of male-fertile plants nearby
+5	The first hybrid corn seeds produced using this mechanical approach were introduced in the 1930s and they yielded as much as 20 % more corn than naturally pollinated plants	The vast majority of the U.S. corn crop now is grown from hybrid seeds produced by seed companies
+2	A similar technique is almost impossible to apply to other crops , such as cotton , soybeans and rice	The male part , the anthers of the plant , and the female , the pistils , of the same plant are within a fraction of an inch or even attached to each other.The anthers in these plants are difficult to clip off
+2	The male part , the anthers of the plant , and the female , the pistils , of the same plant are within a fraction of an inch or even attached to each other	The anthers in these plants are difficult to clip off
+0	A similar technique is almost impossible to apply to other crops , such as cotton , soybeans and rice.The male part , the anthers of the plant , and the female , the pistils , of the same plant are within a fraction of an inch or even attached to each other.The anthers in these plants are difficult to clip off	In China , a great number of workers are engaged in pulling out the male organs of rice plants using tweezers , and one-third of rice produced in that country is grown from hybrid seeds
+1	In China , a great number of workers are engaged in pulling out the male organs of rice plants using tweezers , and one-third of rice produced in that country is grown from hybrid seeds	At Plant Genetic Systems , researchers have isolated a pollen-inhibiting gene that can be inserted in a plant to confer male sterility
+8	The researchers also pulled off a second genetic engineering trick in order to get male-sterile plants in large enough numbers to produce a commercial hybrid seed crop	They attached a second gene , for herbicide resistance , to the pollen-inhibiting gene.Both genes are then inserted into a few greenhouse plants , which are then pollinated and allowed to mature and produce seed . The laws of heredity dictate that half of the plants springing from these greenhouse-produced seeds will be male sterile and herbicide resistant and half will be male fertile and herbicide susceptible.The application of herbicide would kill off the male-fertile plants , leaving a large field of male-sterile plants that can be cross-pollinated to produce hybrid seed
+2	The laws of heredity dictate that half of the plants springing from these greenhouse-produced seeds will be male sterile and herbicide resistant and half will be male fertile and herbicide susceptible	The application of herbicide would kill off the male-fertile plants , leaving a large field of male-sterile plants that can be cross-pollinated to produce hybrid seed
+6	In recent years , demand for hybrid seeds has spurred research at a number of chemical and biotechnology companies , including Monsanto Co. , Shell Oil Co. and Eli Lilly & Co	One technique developed by some of these companies involves a chemical spray supposed to kill only a plant 's pollen
+2	Plant Genetic 's approach `` interesting '' and `` novel , '' and `` complementary rather than competitive	There is a large market out there hungry for hybrid seeds
+8	Plant Genetic 's success in creating genetically engineered male steriles does n't automatically mean it would be simple to create hybrids in all crops.That 's because pollination , while easy in corn because the carrier is wind , is more complex and involves insects as carriers in crops such as cotton	It 's one thing to say you can sterilize , and another to then successfully pollinate the plant
+8	The clash is a sign of a new toughness and divisiveness in Japan 's once-cozy financial circles	Not only are Japan 's financial institutions putting their enormous clout to work
+5	Not only are Japan 's financial institutions putting their enormous clout to work	increasingly they 're squaring off against one another in unprecedented public fashion
+8	What triggered the latest clash was a skirmish over the timing of a New Zealand government bond issue	Nomura was attempting to organize the 50 billion-yen ( $ 352 million ) borrowing in Japan at a time when many Japanese banks , led by Industrial Bank of Japan , were pressuring the Wellington government to help them recover loans made to a defunct investment bank that had been owned by New Zealand 's civil-service pension fund.Unwilling to put up new money for New Zealand until those debts are repaid , most banks refused even to play administrative roles in the new financing , forcing an embarrassed Nomura to postpone it this week
+0	Nomura was attempting to organize the 50 billion-yen ( $ 352 million ) borrowing in Japan	most banks refused even to play administrative roles in the new financing , forcing an embarrassed Nomura to postpone it this week
+2	With Japan 's cash-flush banks aligned against it , though , raising money may be difficult	Not only can they block Wellington from raising money in Japan but as the largest underwriters in the Eurobond market , they might be able to scuttle borrowings there , too
+8	New Zealand 's finance minister , David Caygill , lashed out at such suggestions	He told reporters in Wellington Tuesday that the government had n't guaranteed the loans to DFC New Zealand Ltd. , an investment bank 80 % -owned by the National Provident Fund , and would n't bail it out . `` It may very well be what the Japanese banks want , '' he told Radio New Zealand . `` I think it would be irresponsible and I am not about to be blackmailed by Japanese banks or any other international interests
+1	It may very well be what the Japanese banks want	I think it would be irresponsible and I am not about to be blackmailed by Japanese banks or any other international interests
+8	No less significant than the Japanese banks ' attempt to cut off funds to pressure a foreign government are the implications of a confrontation between Japan securities and banking industries	Anxiety is rising over recent government proposals to eventually lower the strict barriers that now separate -- and protect -- the two industries from each other
+2	Both sides are jealously guarding their turf , and relations have been at a flashpoint for months	The banks badly want to break into all aspects of the securities business.Meanwhile , the securities companies -- most of them smaller than the banks -- are seeking access only to limited kinds of banking that would n't open them to the full brunt of competition from the banks
+8	In the past year , both have tried to stretch the limits of their businesses	Nomura started a credit-card venture with American Express Co. that allowed cardholders to use their Nomura securities accounts like a bank account , attracting the wrath of banks.And Industrial Bank of Japan started up a London securities subsidiary that sells Japanese stocks to non-Japanese institutions overseas , a move that stirred the anger of the stock brokerage firms
+2	Nomura started a credit-card venture with American Express Co. that allowed cardholders to use their Nomura securities accounts like a bank account , attracting the wrath of banks.And Industrial Bank of Japan started up a London securities subsidiary that sells Japanese stocks to non-Japanese institutions overseas , a move that stirred the anger of the stock brokerage firms	The New Zealand bond issue simply has brought the two institutions face-to-face
+1	ITEL CORP. reported third-quarter earnings , which were mistakenly shown in the Quarterly Earnings Surprises table in yesterday 's edition to be lower than the average of analysts ' estimates	On a pretax basis , Itel 's third-quarter earnings of 30 cents a share were actually 7.14 % higher than the average of estimates
+9	He will be in charge of research , equity sales and trading , and the syndicate operation of Rothschild	Mr. Conlon was executive vice president and director of the equity division of the international division of Nikko Securities Co
+5	Crouched at shortstop , Bert Campaneris , once Oakland 's master thief , effortlessly scoops up a groundball and flips it to second	In the outfield , Paul Blair , the Orioles ' eight-time Gold Glove winner , elegantly shags a fly
+5	Crouched at shortstop , Bert Campaneris , once Oakland 's master thief , effortlessly scoops up a groundball and flips it to second.In the outfield , Paul Blair , the Orioles ' eight-time Gold Glove winner , elegantly shags a fly	On the mound , former Red Sox great Luis Tiant , the wily master of 1,001 moves , throws an off-speed strike
+2	But for the next few months , these boys of summers long past are going to be reveling in an Indian summer of the soul	Now that the baseball season is officially over , you see , it 's time for a new season to begin
+8	Today is the debut of the Senior Professional Baseball Association , a new eight-team pro sports circuit , modeled after the highly successful senior tennis and golf tours and complete with good salaries , a cable television contract and even expansion plans	One hundred and ninety two former greats , near greats , hardly knowns and unknowns begin a 72-game , three-month season in spring-training stadiums up and down Florida
+5	One hundred and ninety two former greats , near greats , hardly knowns and unknowns begin a 72-game , three-month season in spring-training stadiums up and down Florida	For everyone involved , it 's one more swig of that elixir of youth , baseball
+1	Someone always makes you quit	You feel you want one more -- one more at-bat , one more hit , one more game
+5	And not just for the players	It 's one more for the baseball-loving lawyers , accountants and real estate developers who ponied up about $ 1 million each for the chance to be an owner , to step into the shoes of a Gene Autry or have a beer with Rollie Fingers
+1	Early in the morning Mr. Sider , an estate lawyer , pores over last wills and testaments	Midmorning , he dons an orange-and-blue uniform and , for fun , may field a bunt from Dave Kingman
+6	It 's one more , too , for the fans who dream of a season that never ends	I feel like a little kid , '' says a gleeful Alex de Castro , a car salesman , who has stopped by a workout of the Suns to slip six Campaneris cards to the Great Man Himself to be autographed
+9	he had the idea last January while lying on a beach in Australia	When he sent letters offering 1,250 retired major leaguers the chance of another season , 730 responded
+1	For some players , the lure is money -- up to $ 15,000 a month	Others , just released from the majors , hope the senior league will be their bridge back into the big-time
+8	My fastball is good	Real good
+8	that when he left baseball in 1978 , he `` never looked back	For a long time , he ignored baseball altogether , even the sports pages
+2	he 'd play for free	You ca n't give it up that easily
+9	He gave up seven hits , walked five and did n't get a decision	Arm troubles forced him back to the minors the next year
+8	There 's a satisfaction in going against the rules	He means the rule that a player ca n't cut it after a certain age
+8	I personally do n't enjoy seeing players who I remember vividly from their playing days running about and being gallant about their deficiencies	people should be allowed to remember players as they were
+6	But the ballplayers disagree	Most are trim
+5	Most are trim	Some have been training for months
+1	Some have been training for months	others only recently left active status
+8	others only recently left active status	No one has worked out the players ' average age , but most appear to be in their late 30s
+6	And there 's pride	I 'm not going to look stupid , '' vows former Pittsburgh Pirate second baseman Rennie Stennett
+2	It 's going to be a tough league	There will be a lot of malice
+2	There will be a lot of malice	Men who have played hard all their lives are n't about to change their habits
+6	So he adjusts	He no longer crowds the plate
+7	He no longer crowds the plate	He 's not thinking about home runs anymore , just base hits
+4	And do n't expect many complete games by pitchers -- perhaps three out of 288	Expect `` tricky '' stuff from pitchers
+7	Expect `` tricky '' stuff from pitchers	Expect brushbacks but no beanballs
+7	Expect brushbacks but no beanballs	Even expect stolen bases
+2	Even expect stolen bases	If you know how to slide , it 's no problem
+2	And expect slower fastballs	I 'm not so young anymore , '' concedes the cigar-chomping , 48-year-old Mr. Tiant
+6	And expect slower fastballs	I 'm not so young anymore , '' concedes the cigar-chomping , 48-year-old Mr. Tiant
+2	I 'm not so young anymore	I wo n't be throwing 90 mph
+8	the fastball he brought into the majors in 1955 has become a slowball	Its maximum velocity is 72 mph
+2	But he is n't worried	He will compensate with the guile learned from his years in the majors
+7	He will compensate with the guile learned from his years in the majors	He has good control
+2	He has good control	He will keep the ball down , move it around
+8	it received two contracts totaling $ 19 million to build gas-turbine generators	The separate contracts were from Paragould Light & Water Commission , a utility in Paragould , Ark. , and PSE Inc. , a cogeneration-plant operator in Houston
+2	These rate indications are n't directly comparable	lending practices vary widely by location
+1	service-industry output in August rose 0.4 % from July	Output of goods-producing industries increased 0.1 %
+2	it has been `` unfairly associated '' with other banks in New England that have had major loan losses in recent quarters	its People 's Savings Bank unit does n't have a `` large exposure to construction and commercial loans that have caused the loan-loss problems in many of the banks
+1	Seats currently are quoted at $ 400,000 bid , $ 425,000 asked	The record price for a full membership on the exchange is $ 550,000 , set March 9
+2	Mr. Ridley 's decision fires the starting pistol for perhaps a costly contest between the world 's auto giants for Britain 's leading luxury-car maker	Both General Motors Corp. and Ford Motor Co. have been trying to amass 15 % stakes in Jaguar
+6	Both General Motors Corp. and Ford Motor Co. have been trying to amass 15 % stakes in Jaguar	Ford , which already has an unwelcome 13.2 % holding , is prepared to bid for the entire company and had lobbied the government to lift the takeover restrictions early
+1	Ford is prepared to bid for the entire company and had lobbied the government to lift the takeover restrictions early	GM has been negotiating a friendly transaction with Jaguar that likely would involve joint ventures and an eventual stake of just under 30 %
+2	But the government 's action may scuttle the GM minority deal by forcing it to fight for all of Jaguar	they ( GM ) will let Ford have a free run
+2	they ( GM ) will let Ford have a free run	they will be going for a full bid
+2	Many investors certainly believe a bidding war is imminent	Jaguar shares skyrocketed yesterday after Mr. Ridley 's announcement , following their temporary suspension on London 's Stock Exchange
+8	Jaguar shares skyrocketed yesterday after Mr. Ridley 's announcement	In late trading , the shares were up a whopping 122 pence ( $ 1.93 ) -- a 16.3 % gain -- to a record 869 pence on very heavy volume of 9.7 million shares
+1	In late trading , the shares were up a whopping 122 pence ( $ 1.93 ) -- a 16.3 % gain -- to a record 869 pence on very heavy volume of 9.7 million shares	In the U.S. over-the-counter market , Jaguar shares trading as American Depositary Receipts closed at $ 13.625 , up $ 1.75
+8	Speculation about a takeover fight has sent Jaguar shares soaring in the past six weeks	The share price was languishing at about 400 pence before Ford 's Sept. 19 announcement of its interest in a minority stake
+1	An aggressive Ford bid for Jaguar would put pressure on GM to make a better offer as the British company 's `` white knight	Such a countermove could end Jaguar 's hopes for remaining independent and British-owned
+2	But it is n't clear how long GM would be willing to fight Ford for Jaguar	Because of their longstanding rivalry , GM just `` wants to make sure Ford pays a huge packet for ( Jaguar
+8	that Ford now may be able to shut out General Motors	It 's either going to be a shootout , or there only may be one player in town
+2	or there only may be one player in town	It is very hard to justify paying a silly price for Jaguar if an out-and-out bidding war were to start now
+5	In a statement , Jaguar 's board said they `` were not consulted about the ( Ridley decision ) in advance and were surprised at the action taken	The statement emphasized that holders representing 75 % of the shares voting at a special shareholders ' meeting must agree to lift the takeover restrictions
+5	that Ford is in the best position to benefit from the large number of Jaguar shares that have moved over the past month into the hands of arbitragers waiting for the highest takeover bid	Jaguar 's own defenses against a hostile bid are weakened because fewer than 3 % of its shares are owned by employees and management
+2	its plans for Jaguar would be more valuable in the long run than the initial windfalls investors might reap from a hostile Ford bid	Our intensive discussions with Jaguar , at their invitation have as their objectives to create a cooperative business relationship with Jaguar that would provide for the continued independence of this great British car company , to ensure a secure future for its employees and to provide an attractive long-term return for its shareholders
+2	Indeed , the government is taking a calculated risk	Mr. Ridley 's announcement set off a howl of protests from members of the opposition Labor Party , who accused the Thatcher administration of backing down on promised protection for a privatized company
+8	The Conservative government 's decision may reflect its desire to shed a politically sensitive issue well before the next election , expected in late 1991	It 's now a very good time politically to get this over and done with
+2	It 's now a very good time politically to get this over and done with	The government , already buffeted by high interest rates and a slowing economy , has been badly hurt by last week 's shake-up in Mrs. Thatcher 's cabinet
+8	At the same time , the government did n't want to appear to favor GM by allowing a minority stake that might preclude a full bid by Ford	Mr. Ridley hinted at this motive in answering questions from members of Parliament after his announcement
+8	Mr. Ridley hinted at this motive in answering questions from members of Parliament after his announcement	He said he was giving up the golden share `` to clear the way so the playing field is level between all contestants
+2	Erwin Tomash , the 67-year-old founder of this maker of data communications products and a former chairman and chief executive , resigned as a director	Dataproducts is fighting a hostile tender offer by DPC Acquisition Partners , a group led by New York-based Crescott Investments Associates.Under the circumstances , Dataproducts said , Mr. Tomash said he was unable to devote the time required because of other commitments
+1	In Tokyo , the Nikkei index of 225 selected issues was up 132.00 points to 35549.44	The index fell 109.85 Monday
+2	The topic that attracted participants ' attention was Mitsubishi Estate 's purchase of 51 % of Rockefeller Center Properties , announced late Monday in New York	Mitsubishi Estate ended the day at 2680 , up 150
+6	The gains also sparked buying interest in other real-estate companies	Sumitomo Realty & Development rose 40 to 2170
+7	Sumitomo Realty & Development rose 40 to 2170	Heiwa Real Estate gained 40 to 2210
+2	Investor focus shifted quickly	Many of the morning-session winners turned out to be losers by afternoon
+1	that for the week ended Friday , the balance of margin buying rose 189.8 billion yen ( $ 1.34 billion ) , to 7.160 trillion yen ( $ 50.46 billion	The balance of short positions outstanding fell 159.7 billion yen , to 779.8 billion yen
+8	Volume has been appalling	The market was dragged up by the scruff of its neck by Wall Street and by market makers getting caught short
+0	The market was dragged up by the scruff of its neck by Wall Street and by market makers getting caught short	No one wants stock on their books
+5	At the close , the narrower 30-share index was up 19.7 points to 1721.4	Volume totaled a modest 334.5 million shares , up from 257.8 million shares Monday
+2	that Jaguar shares were being temporarily suspended at 746 pence ( $ 11.80 ) each	that the government would abolish its golden share in Jaguar
+5	But although the golden share has been waived , a hostile bidder for Jaguar would still have to alter the British concern 's articles of association which ban shareholdings of more than 15 %	Jaguar shares closed at 869 pence , up 122 pence , on hefty turnover of 9.7 million shares
+10	But although the golden share has been waived , a hostile bidder for Jaguar would still have to alter the British concern 's articles of association which ban shareholdings of more than 15 %	Jaguar shares closed at 869 pence , up 122 pence , on hefty turnover of 9.7 million shares
+10	Elsewhere , share prices closed higher in Amsterdam , Brussels , Milan and Paris	Prices were mixed in Zurich and lower in Stockholm
+5	Elsewhere , share prices closed higher in Amsterdam , Brussels , Milan and Paris	Prices were mixed in Zurich and lower in Stockholm
+5	Stocks closed higher in Hong Kong , Manila , Singapore , Sydney and Wellington , but were lower in Seoul	Taipei was closed for a holiday
+2	An official linked the gain essentially to higher prices for beef and pork	summer drought problems that had hit several southern agricultural regions had stopped being a major source of price pressure in September
+8	The index is intended to measure future economic performance	A figure above 50 indicates the economy is likely to expand
+1	A figure above 50 indicates the economy is likely to expand	one below 50 indicates a contraction may be ahead
+5	Thomas A. Donovan , 37 years old , formerly vice president , West Coast operations , at this hazardous-waste-site remediation concern , was named executive vice president and chief operating officer , both newly created posts , and a director , filling a vacancy	it anticipates naming Mr. Donovan to succeed Richard F. Brissette , 55 , as president and chief executive officer , effective March 1
+5	The average yield on a six-month CD of $ 50,000 or less was 7.90 % , compared with 7.94 % a week earlier	The average one-year savings-type CD was down to 7.99 % from 8.01 % , according to Banxquote Money Markets , a New York information service that tracks CD yields
+2	This week was uneventful for the CD market	The major banks have n't even reacted to sharp rises in the three-month Treasury bill rates '' in the past two weeks
+2	The major banks have n't even reacted to sharp rises in the three-month Treasury bill rates '' in the past two weeks	Banks that adjusted payouts on CDs in the most recent week made only fractional moves
+6	The CD trend runs counter to the direction of short-term interest rates at the Treasury bill auction Monday	The average six-month bill was sold with a yield of 8.04 % , up from 7.90 %
+7	The average six-month bill was sold with a yield of 8.04 % , up from 7.90 %	The average three-month issue rose to 8.05 % from 7.77 %
+2	Typically , banks offer CD yields higher than those on Treasury bills , which are considered the safest short-term investments	banks need a competitive edge to sell their products
+6	Most yields on short-term jumbo CDs also moved in the opposite direction of Treasury bill yields	The average six-month yield on a jumbo CD was at 7.90 % , down from 7.93 %
+1	The average six-month yield on a jumbo CD was at 7.90 % , down from 7.93 %	For longer-term CDs , yields were up
+6	For longer-term CDs , yields were up	The average two-year and five-year jumbos were up 0.02 of a percentage point to 7.91 % and 7.96 % , respectively
+8	Among the major banks surveyed by Banxquote in six regions of the country , 8.33 % is the highest yield available	It is offered by the flagship banks of New York 's Manufacturers Hanover Corp. in the one-year maturity only
+5	It is offered by the flagship banks of New York 's Manufacturers Hanover Corp. in the one-year maturity only	The yield is offered across a range of maturities at San Francisco 's BankAmerica Corp. and Wells Fargo & Co
+1	The yield is offered across a range of maturities at San Francisco 's BankAmerica Corp. and Wells Fargo & Co	Just two weeks ago , BankAmerica 's yields in many of those maturities was 8.61 %
+2	Still , on average , the major California banks have the highest yields on CDs , according to Banxquote	The average yield there on six-month issues is 8.32 %
+4	But as the French embody a Zen-like state of blase when it comes to athletics ( try finding a Nautilus machine in Paris ) , my fellow conventioners were having none of it	The diners at my table simply lit more Gauloises and scoffed at the suggestion of interrupting a perfectly good Saturday morning to go golfing or even montgolfing ( ballooning to you ; the brothers Montgolfier , French of course , were the world 's first hot-air balloonists
+2	As in : `` You went ballooning ? ? ! ! In France	Americans have followed Malcolm Forbes 's hot-air lead and taken to ballooning in a heady way
+2	Americans it seems have followed Malcolm Forbes 's hot-air lead and taken to ballooning in a heady way	During the past 25 years , the number of balloonists ( those who have passed a Federal Aviation Authority lighter-than-air test ) have swelled from a couple hundred to several thousand , with some estimates running as high as 10,000
+5	During the past 25 years , the number of balloonists ( those who have passed a Federal Aviation Authority lighter-than-air test ) have swelled from a couple hundred to several thousand , with some estimates running as high as 10,000	Some 30 balloon shows are held annually in the U.S. , including the world 's largest convocation of ersatz Phineas Foggs -- the nine-day Albuquerque International Balloon Fiesta that attracts some 800,000 enthusiasts and more than 500 balloons , some of which are fetchingly shaped to resemble Carmen Miranda , Garfield or a 12-story-high condom
+0	or a 12-story-high condom	The condom balloon was denied official entry status this year
+8	But in Epinal , a gray 16th-century river town adjacent to France 's Vosges mountain region , none of these Yankee-come-lately enthusiasms for things aloft was evident	Ballooning at the de rigueur hour of 6 a.m. held all the attraction for most people of sunrise root-canal work
+1	Ballooning at the de rigueur hour of 6 a.m. held all the attraction for most people of sunrise root-canal work	Feeling the naggings of a culture imperative , I promptly signed up
+8	I 'm not referring to the traditional champagne drenching during the back-on-terra-firma toast	I 'm talking about landing in a canal
+7	I 'm talking about landing in a canal	In a porous wicker basket
+7	I 'm talking about landing in a canal.In a porous wicker basket	With a pilot who speaks no English
+5	In between came lots of coffee drinking while watching the balloons inflate and lots of standing around deciding who would fly in what balloon and in what order ( the baskets hold no more than four passengers	When it was n't my turn in the balloon I followed its progress from the `` chase car , '' listening to the driver holler into a walkie-talkie
+9	When it was n't my turn in the balloon I followed its progress from the `` chase car , '' listening to the driver holler into a walkie-talkie	After long stretches of this attendant ground activity came 20 or so lovely minutes of drifting above the Vosges watching the silver mists rise off the river and the French cows amble about the fields
+5	After long stretches of this attendant ground activity came 20 or so lovely minutes of drifting above the Vosges watching the silver mists rise off the river and the French cows amble about the fields	It 's hard not to feel that God 's in his heaven with this kind of bird's-eye view of the world , even if your pilote in silly plaid beret kept pointing out how `` belle '' it all was
+2	No wonder	We were coming down straight into their canal
+2	We were coming down straight into their canal	See , the other rule of thumb about ballooning is that you ca n't steer
+8	that you ca n't steer.And neither can your pilot	You can go only up or down and ride the air currents
+2	and most average a leisurely 5-10 miles an hour	When the balloon is cruising along at a steady altitude there is little sense of motion
+1	When the balloon is cruising along at a steady altitude there is little sense of motion	Only when one is ascending -- or in our case descending a tad trop rapidement -- does one feel , well , airborne in a picnic basket
+9	What 's he doing ? '' hissed my companion , who was the only other English-speaking member of the convention and whose knuckles were white	Attention , '' yelled our pilot as our basket plunged into the canal
+9	Attention , '' yelled our pilot as our basket plunged into the canal	You bet attention , '' I yelled back , leaping atop the propane tanks , `` I 'm wearing alligator loafers
+9	You bet attention , '' I yelled back , leaping atop the propane tanks , `` I 'm wearing alligator loafers	Our pilot simply laughed , fired up the burner and with another blast of flame lifted us , oh , a good 12-inches above the water level
+9	Our pilot simply laughed , fired up the burner and with another blast of flame lifted us , oh , a good 12-inches above the water level	We scuttled along for a few feet before he plunged us into the drink again
+9	Eventually we came to rest in a soggy patch of field where we had the exquisite pleasure of scrambling out of the basket into the mud while the French half of our ballooning tag team scrambled in	I looked at my watch
+5	that included the precision routine of yanking the balloon to the ground , punching all the air out of it , rolling it up and cramming it and the basket into the trailer	It was the most exercise we 'd had all morning
+2	me nursing an espresso and my ego	A whole morning of ballooning and I had been off the ground barely 30 minutes
+1	As for the ride back to camp , our pilot and all the other French-speaking passengers clambered into the chase car	My American companion and I were left to ride alfresco in the wicker basket
+2	My American companion and I were left to ride alfresco in the wicker basket	As we streaked by a blase gendarme , I could n't resist rearing up on my soggy loafers and saluting
+6	Differences between the Treasury and the Federal Reserve on the usefulness of intervention to help restrain the dollar resurfaced at the hearing	Fed Vice Chairman Manuel Johnson , who had dissented from the Treasury 's policy , told lawmakers , `` I became convinced about what looked to me like an attempt to push the dollar down against the fundamentals in the market
+0	Rep. John LaFalce ( D. , N.Y. ) said Mr. Johnson refused to testify jointly with Mr. Mulford and instead asked to appear after the Treasury official had completed his testimony	A Fed spokesman denied Mr. LaFalce 's statement
+2	West Germany is contributing to imbalances in the world economy because of its success as an exporter	The solution is stronger domestic growth { in Germany }
+2	Five officials of this investment banking firm were elected directors : E. Garrett Bewkes III , a 38-year-old managing director in the mergers and acquisitions department ; Michael R. Dabney , 44 , a managing director who directs the principal activities group which provides funding for leveraged acquisitions ; Richard Harriton , 53 , a general partner who heads the correspondent clearing services ; Michael Minikes , 46 , a general partner who is treasurer ; and William J. Montgoris , 42 , a general partner who is also senior vice president of finance and chief financial officer	The board increased by one to 26 members
+5	The board increased by one to 26 members	In the past year , one inside director resigned , while three others retired
+8	But even though NATO negotiators have only 10 months left under the Bush timetable , they are still wrestling over such seemingly fundamental questions as `` What is a tank	Five of the six categories of weapons under negotiation have n't even been defined
+1	Tanks currently are defined as armored vehicles weighing 25 tons or more that carry large guns	The Soviets complicated the issue by offering to include light tanks , which are as light as 10 tons
+2	But the issue is stickier than it seems	France , Britain and Italy all have light tanks they would like to keep out of the talks
+6	Defining combat aircraft is even tougher	The Soviets insisted that aircraft be brought into the talks , then argued for exempting some 4,000 Russian planes because they are `` solely defensive
+2	The Soviets insisted that aircraft be brought into the talks , then argued for exempting some 4,000 Russian planes because they are `` solely defensive . '' NATO has n't budged from its insistence that any gun-carrying plane has offensive capability	The dispute over that issue , according to one U.S. official , is a `` potential treaty stopper , '' and only President Bush and Soviet leader Mikhail Gorbachev may be able to resolve it
+2	Other nations are n't sure how many weapons they have in their own arsenals	It 's just going to be sloppy , both on our side and theirs { the Warsaw Pact 's }
+8	So far , neither the Bush administration nor arms-control experts in Congress seem moved by arguments that these problems may take more time to thrash out than President Bush has allowed	They argue that the bigger danger would be that the West would delay action so long that the Soviets might back away from the current conciliatory attitude
+2	The bottom line is that if we can get that { Warsaw Pact } superiority brought down to parity , we ought to keep pressing ahead as quickly as possible	about things becoming so unraveled on the other side that they might become unable to negotiate
+5	Two of the 757-200s are new aircraft to be delivered to American Trans Air , the main subsidiary of Amtran Inc. , in December 1991 and January 1992	Four of the planes were purchased by International Lease from Singapore Airlines in a previously announced transaction
+0	Norway 's unemployment rate for October was 3.6 % , unchanged from September but up from 2.6 % in the same month last year	The figure excludes a record number employed by extraordinary government work programs
+1	The number of people registered as jobless at the end of October declined by 900 from September to 78,600	Those employed in state-funded special programs increased by 7,400 to 65,200 in the same period
+5	The venture would be the latest in Coke 's rapid expansion of overseas investment	So far this year , it has put nearly $ 700 million into bottling operations in Australia , New Zealand and France
+2	That 's because when Coke looks to the Pacific area , it sees an economic and demographic gold mine	In countries such as Taiwan , South Korea and Singapore , economies are growing , resulting in a rise in disposable income that consumers can use for soft drinks
+2	In the past , however , Coke has typically taken a minority stake in such ventures	By acquiring stakes in bottling companies in the U.S. and overseas , Coke has been able to improve bottlers ' efficiency and production , and in some cases , marketing
+0	By acquiring stakes in bottling companies in the U.S. and overseas , Coke has been able to improve bottlers ' efficiency and production , and in some cases , marketing	Coke has tended to increase its control when results were sluggish in a given country
+8	a country of about three million people with a relatively high soft-drink consumption rate	In Singapore , per-capita consumption is about one-third that of the U.S
+2	where per-capita consumption is n't as high as in Singapore	Coke could be interested in more quickly developing some of the untapped potential in those markets
+0	Coke could be interested in more quickly developing some of the untapped potential in those markets	he could n't say whether that is the direction of the talks
+8	The Aga Khan , meanwhile , agreed to trade some of his stake in Luxembourg-based Ifint S.A. , another Agnelli family company , for 7.45 % of Giovanni Agnelli & Co. 's capital	His new stake would be in the form of preferred shares , which receive higher dividends but have voting rights only in extraordinary shareholders assemblies
+2	Your Oct. 2 page-one article on people riding so-called `` railbikes '' on railroad tracks was a disservice to your readers	It unfortunately encourages others to engage in a highly dangerous and illegal activity that only a very few are doing now
+6	The agreement ended a long impasse between the congressional leaders and the White House over the wage issue	President Bush in June vetoed a measure passed by Congress and said he would n't accept any minimum-wage rise that went beyond limits he set early in this year 's debate on the issue
+8	The compromise was a somewhat softened version of what the White House had said it would accept	Under the agreement with the House and Senate leaders , the minimum wage would rise from the current $ 3.35 an hour to $ 4.25 an hour by April 1991
+1	Mr. Bush had been holding out for a bill boosting the wage floor to $ 4.25 an hour by the end of 1991 , coupled with a six-month training wage for workers newly hired by any employer	Under the compromise , the $ 4.25 level would be reached nine months earlier , while the training subminimum would be shorter , unless it is tied to a training plan
+2	Democrats had been negotiating with some Republican congressional leaders on a compromise lately	With congressional elections next year , GOP leaders have worried about opposing a minimum-wage rise for low-paid workers at a time when Congress is moving toward a capital-gains tax cut that would directly benefit wealthier taxpayers
+2	With congressional elections next year , GOP leaders have worried about opposing a minimum-wage rise for low-paid workers at a time when Congress is moving toward a capital-gains tax cut that would directly benefit wealthier taxpayers	Republicans have been imploring the White House to compromise on the wage issue
+7	The House is scheduled to vote this week on the compromise , as a substitute to a new Democratic bill , itself watered down from last spring 's version	The Senate will probably vote not long afterward
+6	Some Democrats thought they might have compromised too much	Rep. Austin Murphy ( D. , Pa. ) , chairman of the House labor standards subcommittee , said they might have done better `` if we 'd held their feet to the fire
+5	Rep. Austin Murphy ( D. , Pa. ) , chairman of the House labor standards subcommittee , said they might have done better `` if we 'd held their feet to the fire	Mr. Kennedy suggested Democrats `` yielded a great deal '' on the size of the increase , but he cited concessions from the White House on the training wage , which he said make it `` less harsh
+5	With only 16-year-olds to 19-year-olds eligible , 68 % of workers getting less than $ 4.25 an hour , who are adults , wo n't be subject to the training wage	the compromise has `` adequate safeguards , so the youth are not exploited and older workers are not displaced
+5	Houston Lighting 's current situation has some positive aspects , including managing `` very well '' the construction and commercial operation risks of Units 1 and 2 of the South Texas Project nuclear power plant	Capital requirements will be declining and no new generating facilities will be required for several years
+5	Scott C. Smith , formerly vice president , finance , and chief financial officer of this media concern , was named senior vice president	Mr. Smith , 39 , retains the title of chief financial officer
+8	Moreover , such a sale could help Armstrong reassure its investors and deter the Belzbergs , who own a 9.85 % stake in the Lancaster , Pa. , company	Analysts expect Armstrong to use proceeds of the sale to reduce debt , buy back stock or perhaps finance an acquisition
+2	Analysts hailed the planned transaction as being beneficial to Armstrong and Shaw , the market leader in the U.S. carpet industry , with an estimated 17 % to 20 % share	Shaw , based in Dalton , Ga. , has annual sales of about $ 1.18 billion , and has economies of scale and lower raw-material costs that are expected to boost the profitability of Armstrong 's brands , sold under the Armstrong and Evans-Black names
+5	Yesterday , in composite trading on the New York Stock Exchange , Shaw 's shares closed ex-dividend at $ 26.125 , up $ 2.25	Armstrong 's shares , also listed on the Big Board , closed at $ 39.125 , up 12.5 cents
+1	For the quarter , earnings were $ 47 million , or 92 cents a share , including a one-time gain of $ 5.9 million	In the year-ago quarter , earnings were $ 42.9 million , or 93 cents a share
+8	I do n't think it provides much new information on the economy	So far this year , the index of leading indicators has risen in four months , fallen in four months and remained unchanged in the other month
+2	but monthly changes in this measure are even less reliable than those in other economic indicators	Because the figures are based on a small sample , the department said it is 90 % confident only that new-home sales fell somewhere between 5 % and 23 % during the month
+1	The index of leading indicators got a major boost in September from a surge in consumer expectations as measured by the University of Michigan	This measure had dropped sharply in August
+0	This measure had dropped sharply in August	that as a result of a new adjustment to the formula used to calculate the index , the influence of this component has been reduced
+8	Several components that track the health of the manufacturing sector of the economy turned down in September	These include new orders for manufactured consumer goods , lead times on vendor deliveries , orders for new plant and equipment , and backlogs of orders for durable goods
+1	that 61 % do n't expect a recession to occur until 1991 or later	The remainder expect a downturn to begin sometime in
+1	Although manufacturers often are quick to call for lower interest rates , 60 % of the executives said they would prefer that the Fed keep inflation-fighting as its top priority even if that means higher rates	The other 40 % said the Fed ought to worry less about inflation and bring interest rates down
+5	After various adjustments , they produced a 0.5 % rise in the index for August and a 0.2 % rise for September	September , and the change from August , are : from 1.11 in the previous month
+8	The charge resulted from a settlement approved yesterday by the Massachusetts Department of Public Utilities	As expected , the settlement limits rate increases for three years and ties future charges to customers for operation of the troubled Pilgrim Nuclear Power Station to that plant 's performance
+5	Bids totaling $ 515 million were submitted	Accepted bids ranged from 8.38 % to 8.395 %
+7	Bids totaling $ 475 million were submitted	Accepted bids ranged from 8 % to 8.019 %
+5	Accepted bids ranged from 8 % to 8.019 %	The bank holding company will auction another $ 50 million in each maturity next Tuesday
+2	It 's also unnecessary	Amateur spy-chaser Clifford Stoll is a real person , or as he might waggishly put it , a surreal person
+5	He is 37 , an astronomer with impressive credentials , and something of a genius at making computers do his bidding	He once described himself as a `` Berkeley Hippie , '' and played the role well ; obligatory ragged jeans , a thicket of long hair and rejection of all things conventional , including , for a time at least , formal marriage to his `` sweetheart , '' Martha Matthews
+10	He also is an entertaining writer , combining wisecracks and wordplay with programmatic detail and lucid explanations of how computers work	In `` The Cuckoo 's Egg '' ( Doubleday , 326 pages , $ 19.95 ) , he spins a remarkable tale of his efforts over 18 months to catch a computer spy
+6	The result last spring was the arrest by West German authorities of five young West Germans , accused of stealing information from computers in the U.S. and Europe and selling it to the Soviet KGB	One of them , 25-year-old Markus Hess of Hannover , allegedly used the international telecommunications network to break into more than 30 high-security computers in the U.S. , searching for secrets
+2	One of them , 25-year-old Markus Hess of Hannover , allegedly used the international telecommunications network to break into more than 30 high-security computers in the U.S. , searching for secrets	He probably did n't penetrate any top-secret files , but the KGB in East Berlin was willing to pay two of his associates , Peter Carl and Dirk Brezinski , $ 15,000 for some of the material Hess collected
+5	He probably did n't penetrate any top-secret files , but the KGB in East Berlin was willing to pay two of his associates , Peter Carl and Dirk Brezinski , $ 15,000 for some of the material Hess collected	They promised yet more for really good stuff
+2	Mr. Stoll draws his title from the cuckoo 's habit of laying eggs in the nests of other birds , making them surrogate parents	The computer spy had discovered that a popular editing/electronic mail program called Gnu-Emacs could do tricks with the widely used Unix operating system created by AT & T.Using Gnu-Emacs , the spy could substitute a bogus `` atrun '' program for the one that routinely cleans up the Unix system every five minutes
+8	The computer spy had discovered that a popular editing/electronic mail program called Gnu-Emacs could do tricks with the widely used Unix operating system created by AT & T	Using Gnu-Emacs , the spy could substitute a bogus `` atrun '' program for the one that routinely cleans up the Unix system every five minutes
+9	Using Gnu-Emacs , the spy could substitute a bogus `` atrun '' program for the one that routinely cleans up the Unix system every five minutes	Once his cuckoo 's egg was laid , he could enter Unix and become a `` super-user , '' with access to everything
+9	and he was asked to switch to helping run the lab 's computers	He discovered a 75-cent discrepancy in the charges made to various departments for computer time and traced it to a user named `` Hunter
+2	and traced it to a user named `` Hunter , '' who had no valid billing address	Mr. Stoll suspected the intruder was one of those precocious students who has fun breaking into computers
+10	and traced it to a user named `` Hunter , '' who had no valid billing address	Mr. Stoll suspected the intruder was one of those precocious students who has fun breaking into computers
+9	But after much tracking , it became evident to Mr. Stoll that the hacker was not on the Berkeley campus or even in California	Finding him became an obsession for Mr. Stoll
+6	Finding him became an obsession for Mr. Stoll	He made a midnight requisition of all the printers he could lay hands on so that he could monitor all the telephone lines coming into the lab 's computers
+5	He made a midnight requisition of all the printers he could lay hands on so that he could monitor all the telephone lines coming into the lab 's computers	After discovering that the hacker had taken over the dormant account of a legitimate user named Joe Sventek , he rigged up an alarm system , including a portable beeper , to alert him when Sventek came on the line
+5	He made a midnight requisition of all the printers he could lay hands on so that he could monitor all the telephone lines coming into the lab 's computers.After discovering that the hacker had taken over the dormant account of a legitimate user named Joe Sventek , he rigged up an alarm system , including a portable beeper , to alert him when Sventek came on the line	Some nights he slept under his desk
+10	Some nights he slept under his desk	His boss complained about neglect of other chores
+5	Some nights he slept under his desk	His boss complained about neglect of other chores
+6	but also using Berkeley and other easily accessible computers as stepping stones to the network of computers used by the military and national security agencies	The White Sands missile range and CIA contractor Mitre Inc. were among the targets
+5	When the hacker moved , Mr. Stoll moved too , calling up other systems managers to alert them but keeping his own system open to avoid arousing suspicion	Sometimes , if the hacker seemed to be into a sensitive file , he would drag his keychain across the terminal to create static or slow the system down to frustrate his quarry
+6	and he had the impression other federal security agencies were tangled up in legal red tape	The CIA told him it does not do domestic counterespionage
+5	The CIA told him it does not do domestic counterespionage	One learns a lot from this book , or seems to , about crippling federal bureaucracy
+8	One learns a lot from this book , or seems to , about crippling federal bureaucracy	Seems to '' because it 's possible that the CIA and the National Security Agency were more interested than they let on to Mr. Stoll
+8	Finally , he got help	Tymnet is a major network linking computers.One of its international specialists , Steve White , took a quick interest in Mr. Stoll 's hunt , ultimately tracing the hacker to West Germany
+10	Eventually , Mr. Stoll was invited to both the CIA and NSA to brief high-ranking officers on computer theft	He savored the humor of his uncombed appearance among these buttoned-up chaps
+9	He savored the humor of his uncombed appearance among these buttoned-up chaps	Back in Berkeley , he was violently scolded by a left-wing lady friend for consorting with such people
+2	Back in Berkeley , he was violently scolded by a left-wing lady friend for consorting with such people	He became angry in return
+2	He became angry in return	He had developed a hatred for the hacker and a grudging appreciation of the federal `` spooks '' who make national security their business
+5	and uses only one central processing chip	The machine employs reduced instruction-set computing , or RISC , technology
+8	At that price the computer offers up to 10 times the performance of similar machines	In the price range it 's a tremendously high-performing product
+2	the new machine will also be used by businesses and for communications	This clearly demonstrates that Mips is a systems company rather than just a chip company
+2	For Mips big-name allies such as Control Data are essential to attract software developers to the company 's RISC architecture	The thing it says about Mips is that they 're on a roll right now
+8	The thing it says about Mips is that they 're on a roll right now	They 're getting some major wins
+5	Last month , for example , Mips agreed to supply its computers to Nixdorf Computer AG of West Germany and France 's Groupe Bull	Sony Corp. , Tandem Computers Inc. and Digital Equipment have agreed to sell MIPS computers and companies such as Japan 's NEC Corp. and West Germany 's Siemens A.G. have agreed to make Mips chips under license
+2	The machine is essentially a mainframe computer	Suddenly CDC ( Control Data ) has a competitive product to fight back against the VAX9000 , '' a machine Digital announced last month
+7	The machine uses a single processor , which makes it easier to program than competing machines using several processors	The computer can process 13.3 million calculations called floating-point operations every second
+7	The computer can process 13.3 million calculations called floating-point operations every second	The machine can run software written for other Mips computers
+5	Instead the RTC should consider using Treasury debt , which is less expensive and subject to oversight by Congress	The spending could be exempted from meeting deficit-reduction targets in the Gramm-Rudman budget law
+2	Instead the RTC should consider using Treasury debt , which is less expensive and subject to oversight by Congress	The spending could be exempted from meeting deficit-reduction targets in the Gramm-Rudman budget law
+9	The RTC has projected that it will require between $ 50 billion to $ 100 billion in temporary working capital	The borrowing to raise these funds would be paid off as assets of sick thrifts are sold
+8	But higher interest rates paid on off-budget debt could add billions to the bailout costs , and would n't be subject to congressional scrutiny	To allow this massive level of unfettered federal borrowing without prior congressional approval would be irresponsible
+2	But the worst possibility would be raising no working capital	If working capital financing is not provided the RTC may have to slow { S & L sales } or dump acquired assets through fire sales
+8	the 500 million cubic feet a day capacity pipeline would be built by a proposed joint venture between two Panhandle Eastern units-Texas Eastern Transmission Corp. and Trunkline Gas Co	Texas Eastern Transmission will build and operate the system , which will connect the Arkoma Basin with several interstate pipelines
+2	Chez Panisse has n't exactly subjected diners to vanilla ice cream because of the theft	For one thing , Ms. Shere can draw on her cookbook
+2	And that puts added pressure on Chez Panisse dessert-menu planners	We make what we know how to make
+0	but figures she 'll have to reinvent many recipes from scratch	It 's an overwhelming job
+2	It 's an overwhelming job	There are so many possible proportions when you consider how many things are made out of eggs and butter and milk
+9	Scott Wakeman was named president and chief operating officer of U.S. operations , titles that had been held by Mr. Weekes	Mr. Wakeman was vice president of the instrument and controls division of closely held Omega Engineering Inc. , another company controlled by Mr. Hollander
+9	The Wilmington , Mass. , garment service company also boosted its quarterly dividend 20 % to three cents a share adjusted for the split	The dividend had been five cents a share
+1	Separately , UniFirst reported that net income rose 21 % to $ 3 million , or 29 cents a share adjusted for the split , for the fourth quarter ended Aug. 26	A year earlier UniFirst earned $ 2.4 million , or 24 cents a share adjusted for the split
+5	A year earlier UniFirst earned $ 2.4 million , or 24 cents a share adjusted for the split	Sales rose to $ 52.4 million from $ 50.1 million
+8	it completed the previously reported sale of approximately 27,500 acres of timberland near Truckee , Calif. , to closely held Sierra Pacific Industries Corp. , Arcata , Calif. , for $ 32.5 million	the transaction , which includes a swap of other timber interests , would result in a $ 13.5 million after-tax gain , to be recorded in the fourth quarter
+5	Under the agreement , Healthcare , a manager of health-care facilities , said it would pay HealthVest $ 3.9 million in overdue rent and mortgage payments and repay $ 1.1 million in funds that HealthVest advanced for construction work on facilities	In return , HealthVest agreed that it wo n't exercise its rights and remedies against Healthcare during the 120-day period
+2	After the payment , Healthcare still will be $ 6.5 million in arrears on rent and mortgage payments to HealthVest , a real estate investment trust whose portfolio consists largely of properties operated by Healthcare	Healthcare has given HealthVest a 12 % note for that overdue amount , to be repaid over three years
+1	In addition , Healthcare agreed to make monthly rent and mortgage payments of $ 2.7 million to $ 3 million to HealthVest during the standstill period , to be paid when Healthcare successfully completes asset sales	Because Healthcare actually owes HealthVest $ 4.2 million in rent and mortgage payments each month , the amount due above the amount paid will be added to the three-year note
+0	The funds should help ease a cash bind at HealthVest , which has been unable to pay its debts because Healthcare has n't made complete rent and mortgage payments since July	HealthVest has paid two of the three banks it owed interest to in October and is in negotiations with the third bank
+4	I was pleased to note that your Oct. 23 Centennial Journal item recognized the money-fund concept as one of the significant events of the past century	Actually , about two years ago , the Journal listed the creation of the money fund as one of the 10 most significant events in the world of finance in the 20th century
+0	But the Reserve Fund , America 's first money fund , was not named , nor were the creators of the money-fund concept , Harry Brown and myself	We innovated telephone redemptions , daily dividends , total elimination of share certificates and the constant $ 1 pershare pricing , all of which were painfully thought out and not the result of some inadvertence on the part of the SEC
+5	Baskets of roses and potted palms adorned his bench	The local American Legion color guard led the way
+5	Baskets of roses and potted palms adorned his bench.The local American Legion color guard led the way	As the judge marched down the center aisle in his flowing black robe , he was heralded by a trumpet fanfare
+2	But then Judge O'Kicki often behaved like a man who would be king -- and , some say , an arrogant and abusive one	While his case may be extreme , it reflects the vulnerability of many small communities to domineering judges
+8	Last March , nine months after the judge 's swearing-in , the state attorney general 's office indicted him on a sweeping array of charges alleging more than 10 years of `` official oppression '' in Cambria County , a depressed steel and mining community in western Pennsylvania	The allegations , ranging from theft and bribery to coercion and lewdness , paint a disquieting picture
+5	the judge , now 59 years old , harassed his secretaries , made imperial demands on his staff and hounded anyone who crossed him	Bailiffs claimed they were required to chauffeur him to and from work , mow his lawn , chop his wood , fix his car and even drop by his house to feed his two grown mutts , Dixie and Husky
+5	Bailiffs claimed they were required to chauffeur him to and from work , mow his lawn , chop his wood , fix his car and even drop by his house to feed his two grown mutts , Dixie and Husky	One former bailiff charged that the judge double-crossed him by reneging on a promise of a better paying job after pocketing a $ 500 bribe
+6	Some of the allegations are simply bizarre	Two former secretaries told the grand jury they were summoned to the judge 's chambers on separate occasions to take dictation , only to find the judge in his bikini underwear
+7	Two former secretaries told the grand jury they were summoned to the judge 's chambers on separate occasions to take dictation , only to find the judge in his bikini underwear	One secretary testified that the judge once called her to his office while wearing nothing at all
+4	The judge , suspended from his bench pending his trial , which began this week , vehemently denies all the allegations against him , calling them `` ludicrous '' and `` imaginative , political demagoguery	He blames the indictment on local political feuding , unhappiness with his aggressive efforts to clear the courthouse 's docket and a vendetta by state investigators and prosecutors angered by some of his rulings against them
+1	I do n't know whose toes I 've stepped on	I 'll find out , eventually , who pushed the state police buttons into action
+2	Lawyers and their clients who frequently bring business to a country courthouse can expect to appear before the same judge year after year	Fear of alienating that judge is pervasive
+0	It was also in law school that Mr. O'Kicki and his first wife had the first of seven daughters	He divorced his first wife three years ago and married the daughter of his court clerk
+2	Last year , Pennsylvania Supreme Court Justice John P. Flaherty called Mr. O'Kicki one of the finest judges `` not only in Pennsylvania but in the United States	Clearly , the judge has had his share of accomplishments
+9	After practicing law locally , he was elected to his first 10-year term as judge in 1971	in 1981 , he was effectively re-elected
+9	After practicing law locally , he was elected to his first 10-year term as judge in 1971 ; in 1981 , he was effectively re-elected	Six years ago , Judge O'Kicki was voted president of the Pennsylvania Conference of State Trial Judges by the state 's 400 judges
+5	Six years ago , Judge O'Kicki was voted president of the Pennsylvania Conference of State Trial Judges by the state 's 400 judges	He has been considered several times for appointments to federal district and appellate court vacancies in Pennsylvania
+8	He probably was the smartest guy who ever sat on our bench	He 's sharp as a tack
+6	He 's sharp as a tack	He could grasp an issue with the blink of an eye
+2	For more than a decade , virtually no one complained about Judge O'Kicki	What about those institutions that are supposed to be the bedrock of society , the banks and the bar association . . . ? '' wrote a columnist for the Tribune-Democrat , a newspaper in nearby Johnstown , shortly after the scandal became public . `` If only a banker or a lawyer had spoken out years ago , the judicial process would n't be under the taint it is today
+2	What about those institutions that are supposed to be the bedrock of society , the banks and the bar association . . . ?	If only a banker or a lawyer had spoken out years ago , the judicial process would n't be under the taint it is today
+2	that they had no inkling of anything amiss in Ebensburg	Nobody told us
+5	Nobody told us	nobody called us
+8	Nobody told us ; nobody called us	Nobody had the guts to complain
+1	Certainly not the lawyers	Johnstown attorney Richard J . Green Jr. shelled out $ 500 in loans to the judge over five years , he said in testimony to the grand jury
+6	Certainly not the lawyers	Johnstown attorney Richard J . Green Jr. shelled out $ 500 in loans to the judge over five years , he said in testimony to the grand jury
+0	Johnstown attorney Richard J . Green Jr. shelled out $ 500 in loans to the judge over five years	The judge never made a pretense of repaying the money
+0	When Mr. Green won a $ 240,000 verdict in a land condemnation case against the state in June 1983 Judge O'Kicki unexpectedly awarded him an additional $ 100,000	Mr. Green thought little of it until the judge walked up to him after the courtroom had cleared and suggested a kickback
+2	The practice of law is a matter of biting one 's lip when you live in a small community	One had best not dance on top of a coffin until the lid is sealed tightly shut
+6	The judge was considered imperious , abrasive and ambitious	He sipped tea sweetened with honey from his high-backed leather chair at his bench , while scribbling notes ordering spectators to stop whispering or to take off their hats in his courtroom
+5	He sipped tea sweetened with honey from his high-backed leather chair at his bench , while scribbling notes ordering spectators to stop whispering or to take off their hats in his courtroom	Four years ago , he jailed all nine members of the Cambria County School Board for several hours after they defied his order to extend the school year by several weeks to make up for time lost during a teachers ' strike
+5	Visitors in his chambers say he could cite precisely the years , months , weeks and days remaining until mandatory retirement would force aside the presiding president judge , giving Judge O'Kicki the seniority required to take over as the county 's top court administrator	The judge , they say , was fiercely proud of his abilities and accomplishments
+2	My name is judge , '' Judge O'Kicki told a car salesman in Ebensburg when he bought a new red Pontiac Sunbird in October 1984 , according to the grand-jury report	The dealership dutifully recorded the sale under the name `` Judge O'Kicki
+2	The arrogance of a judge , his demeanor , the way he handles people are not a basis for filing a complaint	Until this came up and hit the press , there was never any indication that he was doing anything wrong
+2	The inquiry soon focused on the judge	Even his routine business transactions caused trouble , according to the grand jury report
+6	Even his routine business transactions caused trouble , according to the grand jury report	When the judge bought his new Sunbird from James E. Black Pontiac-Cadillac in Ebensburg five years ago , the dealership had `` certain apprehensions '' about the judge 's reputation , according to the grand-jury report.The dealership took the extra step of having all the paper work for the transaction pre-approved by Ebensburg 's local lender , Laurel Bank . Then , as an additional precaution , the car dealership took the judge 's photograph as he stood next to his new car with sales papers in hand -- proof that he had received the loan documents . But when the judge received his payment book , he disavowed the deal . `` There was no loan , there is no loan , there never shall be a loan , '' the judge wrote the bank on his judicial stationery , according to the report
+2	When the judge bought his new Sunbird from James E. Black Pontiac-Cadillac in Ebensburg five years ago , the dealership had `` certain apprehensions '' about the judge 's reputation , according to the grand-jury report	The dealership took the extra step of having all the paper work for the transaction pre-approved by Ebensburg 's local lender , Laurel Bank
+8	But when the judge received his payment book , he disavowed the deal	There was no loan , there is no loan , there never shall be a loan , '' the judge wrote the bank on his judicial stationery , according to the report
+8	Later , the judge went a step farther	After Laurel Bank tried to repossess the car , a vice president asked him to intervene in an unrelated legal dispute involving a trust account.The judge wrote again . `` I find myself in an adversary relationship with Laurel Bank , and I am not inclined to extend myself as far as any favors are concerned , '' the judge wrote back in a letter attached to the grand jury 's report . `` Perhaps if my personal matters can be resolved with Laurel bank in the near future , I may be inclined to reconsider your request
+9	After Laurel Bank tried to repossess the car , a vice president asked him to intervene in an unrelated legal dispute involving a trust account	The judge wrote again
+1	I find myself in an adversary relationship with Laurel Bank , and I am not inclined to extend myself as far as any favors are concerned	Perhaps if my personal matters can be resolved with Laurel bank in the near future , I may be inclined to reconsider your request
+1	Perhaps if my personal matters can be resolved with Laurel bank in the near future , I may be inclined to reconsider your request	The judge now says it was `` unfortunate '' that he chose to write the letter but says `` there was certainly no intent to extort there
+2	The bank acquiesced	It refinanced the judge 's loan , lowered its interest rate and accepted a trade-in that had n't originally been part of the deal -- a beat up 1981 Chevy Citation the dealer had to repair before it could be resold
+2	The incident was n't the only time the judge got special treatment from his local bank	Two years later , he wrote to complain that the interest he was paying on an unsecured $ 10,000 loan was `` absolutely onerous . '' Paul L. Kane , Laurel 's president at the time , quickly responded.The bank , he wrote back , was `` immediately '' lowering the rate by 3.5 % , `` as a concession to you
+9	Two years later , he wrote to complain that the interest he was paying on an unsecured $ 10,000 loan was `` absolutely onerous	Paul L. Kane , Laurel 's president at the time , quickly responded
+8	Paul L. Kane , Laurel 's president at the time , quickly responded	The bank , he wrote back , was `` immediately '' lowering the rate by 3.5 % , `` as a concession to you
+8	that if he were as corrupt as state prosecutors believe , he would be far wealthier than he is	His seven-bedroom cedar and brick house outside of Johnstown is up for sale to pay for his lawyers
+6	The judge says he is confident he will return to his old bench	Already , he notes , the 76 charges originally filed against him have been trimmed to 27
+0	Already the 76 charges originally filed against him have been trimmed to 27	Most of the allegations no longer pending were ethics charges withdrawn by state prosecutors as part of a pre-trial agreement
+1	Most of the allegations no longer pending were ethics charges withdrawn by state prosecutors as part of a pre-trial agreement	The heart of the case -- `` official oppression '' -- remains intact
+5	If I lose , I lose my position , my career , my pension , my home and my investments	My God and I know I am correct and innocent
+8	Many thanks for Alexander Cockburn 's comic masterpiece ( `` U.S.Economy : A House Built on Junk-Bond Sand , '' Viewpoint , Oct. 19 )	The use of the abominable construction practices in the Soviet Union as a metaphor for the U.S. economic system was a sublime example of Mr. Cockburn 's satirical muse
+2	I await his sequel : the economic and social resiliency of the San Francisco Bay area and the outstanding work of the local governments and the private charitable organizations there as metaphors for the supremacy of whatever failed system Mr. Cockburn now believes in	It should be a scream
+2	The Wall Street Journal is an excellent publication that I enjoy reading ( and must read ) daily	Please make me and thousands of other readers more comfortable with our daily purchase of your newspaper by raising your environmental standards to your overall impeccable quality levels , and increase your use of recycled paper
+5	The first part , consisting of $ 151 million of 13 3/4 % senior subordinated reset notes , was priced at 99.75	The rate on the notes will be reset annually to give the issue a market value of 101
+1	However , the maximum coupon at which the notes can be reset is 16 1/4 %	The minimum coupon is 13 3/4 %
+5	The second part , consisting of $ 100 million of senior subordinated floating-rate notes , was priced at 99 3/4 to float 4.25 % above the three-month London interbank offered rate	The initial coupon on the floating-rate notes will be 12.9375 %
+1	The group 's bid for $ 40.9 million of wastewater treatment insured bonds , Series 1989 A , produced a 7.0826 % true interest cost.The Series 1989 A bonds are insured and rated triple-A by Moody 's and S & P	The group 's bid for $ 34.2 million of wastewater treatment bonds , Series 1989 B , produced a 7.0808 % true interest cost.The Series 1989 B bonds are uninsured and rated double-A by Moody 's and S & P
+5	Interest on the bonds will be treated as a preference item in calculating the federal alternative minimum tax that may be imposed on certain investors	The bonds are insured and rated triple-A by Moody 's and S & P
+8	$ 300 million of bonds due Nov. 16 , 1993 , with equity-purchase warrants , indicating a 3 3/4 % coupon at par via Nomura International Ltd	Each $ 5,000 bond carries one warrant , exercisable from Nov. 30 through Nov. 2 , 1993 , to buy company shares at an expected premium of 2 1/2 % to the closing share price when terms are fixed Tuesday
+8	$ 200 million of bonds due Nov. 16 , 1994 , with equity-purchase warrants , indicating a 4 1/2 % coupon at par via Yamaichi International Europe Ltd	Each $ 5,000 bond carries one warrant , exercisable from Nov. 30 through Nov. 2 , 1994 , to buy company shares at an expected premium of 2 1/2 % to the closing share price when terms are fixed Monday
+9	Separately , a federal judge hearing Mr. Hunt 's bankruptcy case yesterday turned down a proposed $ 65.7 million settlement between Mr. Hunt and Minpeco S.A. , another major creditor in the case	The Peruvian minerals concern had been seeking a claim of $ 251 million against Mr. Hunt
+9	In addition to turning down the compromise , Judge Harold C. Abramson said he would allow a claim of only $ 19.7 million	Minpeco attorneys said they would appeal the decision to a federal district court
+8	But they have been at odds over how much Mr. Hunt would owe the government after his assets are sold	The IRS had demanded $ 90 million but Mr. Hunt would agree to no more than $ 60 million
+8	An increasing number of big Japanese investors are buying up U.S. home mortgages that have been pooled and packaged for sale as interest-bearing instruments known as mortgage-backed securities	As much as 10 % of new U.S. mortgage securities issued by the Federal National Mortgage Association , or Fannie Mae , and Federal Home Loan Mortgage Corp. , or Freddie Mac , now flow into Japanese hands
+3	You ca n't say it 's a `` tsunami '' ( tidal wave ) , but we 're making some headway	Interest is a great deal higher than it was a year ago
+8	Interest is a great deal higher than it was a year ago	The steady growth of the mortgage securities market in the U.S. has even triggered talk of building up a similar market here
+6	Evidence of the growing Japanese demand for mortgage securities abounds	Earlier this year , Blackstone Group , a New York investment bank , had no trouble selling out a special $ 570 million mortgage-securities trust it created for Japanese investors
+7	Earlier this year , Blackstone Group , a New York investment bank , had no trouble selling out a special $ 570 million mortgage-securities trust it created for Japanese investors	Industrial Bank of Japan , which claims to be the biggest Japanese buyer of U.S. mortgage securities , says it will more than double its purchases this year , to an amount one official puts at several billion dollars
+1	Last year , there were only several big investors who were interested	This year , some investors are changing their policies and investing a lot
+2	First , they are safe	While they are n't backed by the full faith and credit of the U.S. government , as Treasury bonds are , it is widely assumed that the government would support them if necessary
+8	Second , they are liquid	The secondary market in federally backed mortgage securities now exceeds $ 900 billion , or nearly half of the $ 2.2 trillion in U.S. residential mortgages issued
+8	Third , they offer high yields	At the moment , some offer as much as 1.6 to 1.8 percentage points over Treasury securities of similar maturities
+8	But there is a risk	Since most mortgages can be prepaid or refinanced at any time , issuers of mortgage securities retain the right to buy back their bonds before maturity
+2	issuers of mortgage securities retain the right to buy back their bonds before maturity	That 's a headache for long-term investors , since it forces them to reinvest their money
+8	But they did n't lose touch with the U.S. issuers	Since 1985 , Japanese investors have bought nearly 80 % of $ 10 billion in Fannie Mae corporate debt issued to foreigners
+5	In addition , further packaging of mortgage-backed securities , such as Blackstone 's fund , have reduced the effects of prepayment risk and automatically reinvest monthly payments so institutions do n't have to	Freddie Mac for years has offered a so-called participation certificate that guarantees it wo n't be prepaid for a set number of years and offers semiannual payments
+2	that their adoption forces bidders to negotiate with a corporation 's directors , who are thereby put in a better position to pursue the long-term interests of the corporation	that corporations with poison pills have experienced greater stock-price appreciation than corporations without poison pills during the past few years
+6	Institutional investors that must evaluate poison pills on a regular basis are interested less in this general debate than in the answers to specific questions about the corporation issuing the pill	Does this corporation have a high-quality management team with a good track record
+7	Does this corporation have a high-quality management team with a good track record	Does this team have a viable strategy for improving shareholder values , and does this strategy require implementation over an extended period
+7	Does this corporation have a high-quality management team with a good track record ? Does this team have a viable strategy for improving shareholder values , and does this strategy require implementation over an extended period	Will the adoption of this particular form of a poison pill significantly improve the chances for management to carry out this strategy
+1	However , the problem is that once most poison pills are adopted , they survive forever	Although the current management team may be outstanding , who will be the CEO in 10 years
+7	Although the current management team may be outstanding , who will be the CEO in 10 years	Although the five-year strategy may be excellent , what will be the strategy in 25 years
+6	The solution to this problem is a time-limited poison pill	The limit could range from three years to seven years , depending on the composition of the management team and the nature of its strategic plan
+9	The limit could range from three years to seven years	At the end of this period , the poison pill would be eliminated automatically , unless a new poison pill were approved by the then-current shareholders
+8	One rare example of a time-limited poison pill is the shareholder rights plan adopted by Pennzoil last year after it received a huge litigation settlement from Texaco	Pennzoil 's poison pill covers five years in order to give current management enough time to put these proceeds to work in a prudent manner
+8	Another interesting example is the poison pill adopted recently by Pittsburgh-based National Intergroup Inc. , a diversified holding company	The State of Wisconsin Investment Board , which owned about 7 % of the company 's voting stock , worked with management to devise a time-limited poison pill.This pill automatically expires after three years unless continued by a vote of the shareholders
+5	The State of Wisconsin Investment Board , which owned about 7 % of the company 's voting stock , worked with management to devise a time-limited poison pill	This pill automatically expires after three years unless continued by a vote of the shareholders
+8	Mr. Blair and Hees have been feuding for months	Yesterday 's election was a sequel to Enfield 's annual meeting in June when Mr. Blair disallowed proxies in favor of two Hees nominees
+9	Yesterday 's election was a sequel to Enfield 's annual meeting in June when Mr. Blair disallowed proxies in favor of two Hees nominees	The Ontario Supreme Court overturned Mr. Blair 's decision
+1	his libel suit seeks 10 million Canadian dollars ( US $ 8.5 million ) from Canadian Express and Hees executives Manfred Walt and Willard L'Heureux	his suit against Enfield seeks two years severance pay , equivalent to C $ 720,000
+2	But in another sense , the $ 846 million purchase is uncharacteristically nervy	The usually cautious giant will become the majority owner of the company that owns New York 's beloved Rockefeller Center at a time when tensions over Japanese purchases of U.S. property are at an all-time high
+6	Officials of Rockefeller Group and Mitsubishi Estate prefer to focus on the affinities , nearly dismissing the threat of a backlash from the U.S. public	We think there will be positive as well as negative reactions , '' says Raymond Pettit , senior vice president and chief financial officer of Rockefeller Group
+5	Since the mid-1980s , Japan 's other major real estate purchases in the U.S. include Dai-Ichi Seimei America Corp. 's $ 670 million purchase of an office building at 153 East 53rd St. in Manhattan in 1987 and Mitsui Fudosan Inc. 's $ 610 million purchase of the Exxon Building , part of Rockefeller Center , in 1986	In Los Angeles , Arco Plaza was sold to Shuwa Corp. for $ 620 million in 1986 , and Sumitomo Life Insurance Co. paid $ 300 million for Atlanta 's IBM Tower last year
+2	Many Japanese companies have taken the warnings by the country 's leaders to heart and sought development partnerships rather than landmark properties	Mitsubishi Estate 's decision to buy into Rockefeller reflects the degree to which companies are irritated by the pressure to act for the good of Japan
+8	Mitsubishi Estate 's decision to buy into Rockefeller reflects the degree to which companies are irritated by the pressure to act for the good of Japan	Those who have no money and are n't buying think it 's right to refrain , but those with money who want to buy for themselves pay no attention
+6	Rockefeller may well have found its match in Mitsubishi Estate , a company of long history , strong government ties and sound resources	In asset terms , Mitsubishi Estate is the largest real estate firm in Japan
+8	In asset terms , Mitsubishi Estate is the largest real estate firm in Japan	The core of its holdings is 190,000 square meters of incredibly expensive property in the Marunouchi district , the business and financial center of Tokyo , often jokingly called `` Mitsubishi Village
+2	At the time , Japan had just opened its doors to the world after about 250 years of isolation and needed a Western-style business center	Mitsubishi built the government 's dream development in exchange for the official decision to locate Tokyo 's central railway station there
+8	It 's known for its cautiousness in part because it has had little need for bold overseas ventures	In the year ended March 31 , 57.4 % of its total revenue came from office building management
+5	In the year ended March 31 , 57.4 % of its total revenue came from office building management	Its earnings can rise 10 % to 12 % annually simply from the natural turnover of tenants and automatic rent increases
+6	Meanwhile , at home , Mitsubishi has control of some major projects	It is the largest private-sector landowner of the Minato-Mirai 21 project , a multibillion-yen development in the port city of Yokohama , about an hour outside Tokyo
+10	Sony is acquiring Columbia and Guber-Peters Entertainment Co. in two separate transactions valued at more than $ 5 billion	Warner Communications Inc. , which is being acquired by Time Warner , has filed a $ 1 billion breach-of-contract suit against Sony and the two producers
+2	Warner Communications Inc. has filed a $ 1 billion breach-of-contract suit against Sony and the two producers	Warner has a five-year exclusive contract with Mr. Guber and Mr. Peters that requires them to make movies exclusively at the Warner Bros. studio
+2	But it may amount to little more than posturing	the two have continued on-again , off-again settlement talks over the last few weeks , and people familiar with the talks say the matter could be resolved within a week
+2	Instead , Sony is likely to agree to let Warner participate in certain of its businesses , such as the record club of Sony 's CBS Records unit	Warner has surpassed Sony as the largest record company , but it does n't have a powerful world-wide record club like CBS
+8	One , for example , came from CBS Records Chairman Walter Yetnikoff	In his affidavit , Mr. Yetnikoff accused Warner Chairman Steven J. Ross of having an `` antiSony , anti-Japanese bias '' and said that Mr. Ross had tried to talk him out of letting Sony buy CBS Records two years ago for that reason
+2	But despite the acrimony between Mr. Ross and Mr. Yetnikoff , officials of the Time side of Time Warner have reportedly been increasingly interested in a settlement that might yield attractive business opportunities	Time executives such as the company 's president , N.J. Nicholas have no personal relationships or ego at stake in the fight over the Guber-Peters duo , and were never directly drawn into the fray
+2	But that does n't mean Mr. Guber and Mr. Peters might not eventually get their hands on some of their projects	studios develop hundreds of movies but produce only 10 to 20 each year
+2	Gulf Power 's guilty plea before U.S. District Judge Robert L. Vining yesterday marks the end of only one part of a wide-ranging inquiry of Southern Co	The company is the subject of a federal grand jury investigation into whether its officials and its utility subsidiaries conspired to cover up their accounting for spare parts to evade federal income taxes
+2	The terms announced today are strictly between the United States and Gulf Power	This is only a further step in a lengthy investigation
+8	The Appleyard Agency , for example , allegedly made contributions from 1982 to 1984 to various funds for political candidates	The contributions were funded by monthly payments of $ 1,000 to $ 2,000 to Appleyard in the guise of a `` special production fee '' -- in effect , hiding the nature of the payments from the Internal Revenue Service
+6	But at a time of mounting concern over alcohol abuse , some liquor marketers consider Seagram 's frequent buyer promotion risky	I 'm surprised they 're doing this , '' says Penn Kavanagh , president of Schieffelin & Somerset Co. , which markets Johnnie Walker scotches
+2	I 'm surprised they 're doing this	I would be very leery of anything that says if you drink more , you get more
+6	Others question the impact on Chivas 's upscale image of a promotion that has customers soaking off labels	It 's really bizarre , '' says Albert Lerman , creative director at the Wells Rich Greene ad agency
+2	It 's really bizarre	Chivas has an image of something you would savor , rather than guzzle
+6	Chivas Class is n't the first such promotion	Last year , J & B Scotch offered 500 TWA frequent flier miles in exchange for a label
+8	But the scope of Seagram 's Chivas promotion sets it apart	The current campaign is just the first leg of an aggressive three-to-five-year direct marketing plan
+2	the promotion is designed to build brand loyalty rather than promote heavy drinking	Seagram asks customers to buy only two or three bottles over a 12-month period
+8	Seagram asks customers to buy only two or three bottles over a 12-month period	We 're not asking them to save up 50 proof-of-purchases
+2	We 're not asking them to save up 50 proof-of-purchases	We 're not saying drink more , we 're saying trade up
+8	to market a higher-fat milk targeted at Hispanic consumers	To give Leche Fresca the creamier taste Goya says Hispanics prefer , the new brand has a butterfat content of 3.8 %
+2	Goya may be on to something	Borden sells considerably more whole milk than reduced-fat milks in southern and Hispanic markets
+2	Borden sells considerably more whole milk than reduced-fat milks in southern and Hispanic markets	Borden even tested a milk with 4 % butterfat in the South , but decided the market was too small
+5	And it 's adding 15 to 20 new outlets a day	Because of Leche Fresca 's success the joint venture is developing other dairy products tailored to Hispanic tastes
+6	FOR YEARS , costume jewelry makers fought a losing battle	Jewelry displays in department stores were often cluttered and uninspired
+8	To increase their share of that business , jewelry makers such as Crystal Brands Inc. 's Trifari and Monet units and Swank Inc. , maker of Anne Klein jewelry , are launching new lines with as much fanfare as the fragrance companies	They 're hiring models to stroll the aisles sporting their jewels , and they 're even beginning to borrow a perennial favorite of the beauty business -- offering a gift when consumers make a purchase
+6	But there are limits	retailers nixed a promotion for pins with animal motifs
+8	retailers nixed a promotion for pins with animal motifs	Her idea : bring in live zoo animals
+8	Trifari , whose national ads earlier this year included paper cutouts of its costume finery , takes a tamer approach	The company focuses on the how-to aspects
+6	The company focuses on the how-to aspects	Trifari now trains sales help to advise customers on the best earring styles
+8	But cosmetics firms still have one big marketing edge	They motivate sales people with commissions
+1	They motivate sales people with commissions	Jewelry makers rarely pay commissions and are n't expected to anytime soon
+2	DESPITE GROWING interest in the environment , U.S. consumers have n't shown much interest in refillable packages for household products	Procter & Gamble Co. recently introduced refillable versions of four products , including Tide and Mr. Clean , in Canada , but does n't plan to bring them to the U.S
+2	Procter & Gamble Co. recently introduced refillable versions of four products , including Tide and Mr. Clean , in Canada , but does n't plan to bring them to the U.S	Marketers believe most Americans wo n't make the convenience trade-off
+9	U.S. District Judge Julian A. Cook Jr. announced the settlements as the jury trial was to begin yesterday	He reset opening arguments for today
+2	His original strategy ( in itself a brilliant innovation for spreading a religion ) was to create new economic enterprises each time he wanted to extend and fund his various religious missions	Tax-exempt airport and street-corner solicitations were intended only to provide start-up funds
+1	Tax-exempt airport and street-corner solicitations were intended only to provide start-up funds	More stable industries were to build an economically viable infrastructure for the Moon movement in North America , as they had in Japan and South Korea
+6	Their legacy lives on	It is still common to read in the press that the church has 10,000 or more full-time American members and 25,000 `` associates
+5	It is still common to read in the press that the church has 10,000 or more full-time American members and 25,000 `` associates	Some estimates have gone as high as 80,000 members
+9	But internal church documents clearly show that at its publicity-seeking heights , as when it organized a spectacular Yankee Stadium bicentennial rally in 1976 , there actually were only about 2,000 full-time Unification Church members in the U.S	Mr . Moon 's support for a Watergate-beleaguered Richard Nixon , the Koreagate scandal , and his prison sentence for income-tax evasion did not help the church 's recruitment efforts
+5	Mr . Moon 's support for a Watergate-beleaguered Richard Nixon , the Koreagate scandal , and his prison sentence for income-tax evasion did not help the church 's recruitment efforts	Defections , burnouts , and abduction `` deprogrammings '' kept member turnover high
+2	Defections , burnouts , and abduction `` deprogrammings '' kept member turnover high	That the membership number has even kept close to its 1976 size is the result of the `` graying '' of the church
+8	That the membership number has even kept close to its 1976 size is the result of the `` graying '' of the church	Many of the enthusiastic young `` Moonies '' of the Nixon era who remained faithful to Father Moon are now parents , producing new members by procreation rather than conversion
+2	The reputed wealth of the Unification Church is another matter of contention	For a while in the 1970s it seemed Mr . Moon was on a spending spree , with such purchases as the former New Yorker Hotel and its adjacent Manhattan Center ; a fishing/processing conglomerate with branches in Alaska , Massachusetts , Virginia and Louisiana ; a former Christian Brothers monastery and the Seagram family mansion ( both picturesquely situated on the Hudson River ) ; shares in banks from Washington to Uruguay ; a motion picture production company , and newspapers , such as the Washington Times , the New York City Tribune ( originally the News World ) , and the successful Spanish-language Noticias del Mundo . Yet these purchases can be misleading
+8	Yet these purchases can be misleading	Most were obtained with huge inputs of church money from South Korea and Japan , minimum cash downpayments and sizable mortgages
+2	Most were obtained with huge inputs of church money from South Korea and Japan , minimum cash downpayments and sizable mortgages	Those teams of young fund-raisers selling flowers , peanuts or begging outright at traffic intersections brought in somewhere near $ 20 million a year during the mid-to-late 1970s , but those revenues were a pittance compared to the costs of Mr . Moon 's lavish international conferences , speaking tours , and assorted land buys
+6	Mr . Moon 's two English-language U.S. newspapers illustrate the scope of this financial drain	Start-up costs for the Washington Times alone were close to $ 50 million , and the total amount lost in this journalistic black hole was estimated at $ 150 million by 1984
+0	which are a further drain	that not even their editors know for sure how much these show-piece publications , along with the newspapers , have cost Mr . Moon
+5	Many American church-owned businesses , such as a $ 30 million factory to build fishing vessels , are defunct	Some components of the American church had their budgets cut in half last year and again this year
+5	Some components of the American church had their budgets cut in half last year and again this year	The relatively small academic conferences that have attracted conservative guests -- and press scrutiny -- in recent years are much more narrowly targeted and austere than the thousand-person get-togethers in fancy digs and exotic locales of years past
+8	According to veteran watchers of Unificationist affairs , such as Dr. J. Gordon Melton , director of the Institute for the Study of American Religion , almost all operations are being drastically reduced as Mr . Moon now concentrates more on developing his empire in the Far East	Everything is going back to Korea and Japan
+2	Everything , '' one non- '' Moonie '' senior consultant to the Unification Church recently told me in an interview , `` is going back to Korea and Japan	Europe had proved even less hospitable than North America
+2	( Europe had proved even less hospitable than North America	European politicians were less reluctant to have their governments investigate and harass new religions
+8	So Mr . Moon is in retreat , refocusing on the Far East	South Korea and Japan continue to be profitable
+5	South Korea and Japan continue to be profitable	Moon 's Tong'Il industry conglomerate is now investing heavily in China , where church accountants have high hopes of expanding and attracting converts even in the wake of the bloody massacre in Tiananmen Square
+8	According to senior consultants to the church , Mr . Moon has successfully negotiated a joint venture with the Chinese government to build an automobile-parts plant in Guangdong Province , an area of China with a substantial Korean minority	Mr . Moon has agreed to put up $ 10 million a year for 25 years and keep the profits in China.In return , he has the government 's blessing to build churches and spread Unificationism in that country
+2	Mr . Moon has agreed to put up $ 10 million a year for 25 years and keep the profits in China	In return , he has the government 's blessing to build churches and spread Unificationism in that country
+5	Spokespersons for both the trust and the company refused to comment on whether any talks with a possible acquirer of Manville had actually taken place	The trust is considering a sale of its Manville holdings , but Manville has the right of first refusal on any sales of its stock held by the trust
+10	Spokespersons for both the trust and the company refused to comment on whether any talks with a possible acquirer of Manville had actually taken place	The trust is considering a sale of its Manville holdings , but Manville has the right of first refusal on any sales of its stock held by the trust
+8	and crippled much of the continent 's tourist industry	The only people who are flying are those who have to
+5	The only people who are flying are those who have to	How is a travel agent going to sell a holiday when he can not guarantee a return flight
+2	Mr. Nahas yesterday blamed his predicament on the president of the Sao Paulo stock exchange	a few days before Mr. Nahas 's failure , the exchange raised the required margin on stock-margin transactions
+8	China 's parliament ousted two Hong Kong residents from a panel drafting a new constitution for the colony	The two , Szeto Wah and Martin Lee , were deemed unfit because they had condemned China 's crackdown on its pro-democracy movement
+5	However , a Canadian Embassy official in Tel Aviv said that Canada was unlikely to sell the Candu heavy-water reactor to Israel since Israel has n't signed the Nuclear Non-Proliferation Treaty	Israel has been accused in the past of using subterfuge to seek elements needed to develop nuclear weapons
+2	Poland is the second Communist nation to recognize the Seoul government	South Korea established diplomatic relations with Hungary in February 1989
+8	the program would be limited to a net disbursement of $ 600 million a year	Friday 's auction will be limited to $ 150 million disbursed by the Central Bank to potential investors
+8	The office of foreign investment has authorized some $ 1.78 billion worth of investment proposals	Most of the proposals are in tourism , basic industry and fishery and agro-industry projects
+8	A song by American singer Tracy Chapman praising jailed black leader Nelson Mandela was banned from South African state radio and television	The South African Broadcasting Corp. said the song `` Freedom Now '' was `` undesirable for broadcasting
+9	Britain 's House of Commons passed a law that will force English soccer fans to carry identity cards to enter stadiums	The `` anti-hooligan '' law must be ratified by the House of Lords
+9	As a result , Judge John F. Keenan of New York ordered Mrs. Marcos to turn over to the court all pleadings and documents she may have filed in foreign countries in opposition to U.S. requests for evidence	Mrs. Marcos had claimed that she did n't have to turn over the documents because she was brought here involuntarily and because providing the materials would violate her marital privilege
+6	they were charged with racketeering , conspiracy , obstruction of justice and mail fraud in a scheme in which they allegedly embezzled more than $ 100 million from their homeland	Much of the money was fraudulently concealed through purchases of prime Manhattan real estate , federal prosecutors have charged
+6	the two marital testimonial privileges cited by Mrs. Marcos do n't apply	The first one permits a witness to refuse to testify against her spouse.But Judge Keenan said that privilege 's purpose is `` fostering harmony in marriage . '' Because Mr. Marcos died Sept. 28 , the privilege can no longer apply , the judge said
+2	that privilege 's purpose is `` fostering harmony in marriage	Because Mr. Marcos died Sept. 28 , the privilege can no longer apply
+5	The Sidley-Ashurst venture will also be staffed by another Sidley partner specializing in corporate law , a partner from Ashurst concentrating on acquisitions and a Japanese attorney	The office will tap the resources of Sidley 's 700 lawyers in the U.S. , London and Singapore as well as the 400 Ashurst staff members in London and Brussels
+5	Ashurst is new to the Far East	Sidley will maintain its association with the Hashidate Law Office in Tokyo
+0	A three-judge panel of the court in Cincinnati made the ruling Saturday	The UAW is seeking a hearing by the full 14-judge panel
+0	The union sued the state in November 1985 , alleging that it intentionally segregated job classifications by sex and paid employees in predominantly female jobs less than males in comparable jobs.The UAW also charged that the state applied its own standards for determining pay in a discriminatory manner	In November 1987 , a district court judge in Detroit ruled against the UAW
+8	A Texas legislator proposes color-coding drivers ' licenses of some drug offenders	The bill would authorize courts to order the licenses as a condition of probation
+2	State Senator J.E . `` Buster '' Brown , a Republican who is running for Texas attorney general , introduced the bill	an altered license would be an `` embarrassment '' to teenagers and young adults and would act as a deterrant to drug use
+1	He said an altered license would be an `` embarrassment '' to teenagers and young adults and would act as a deterrant to drug use	Richard Avena , executive director of the Texas Civil Liberties Union , called the proposal `` political gimmickry , '' and said it fails to recognize the drug problem as a health issue
+5	Employees wore identification badges listing not only their names but also their dates of hire	No one could voice an opinion until everybody with more seniority had spoken first , so younger employees seldom spoke up at all
+5	But in 1986 , the badges and the `` do n't speak out of turn '' rule were abolished -- early steps in a cultural revolution still rolling on with all the subtlety of a freight train	In recent years , Nissan has instituted flex-time work schedules and allowed employees to dress casually , even in blue jeans
+5	In recent years , Nissan has instituted flex-time work schedules and allowed employees to dress casually , even in blue jeans	A rule forbidding staffers to own competitors ' cars has been lifted , and now many designers drive foreign cars to get useful ideas
+5	In recent years , Nissan has instituted flex-time work schedules and allowed employees to dress casually , even in blue jeans.A rule forbidding staffers to own competitors ' cars has been lifted , and now many designers drive foreign cars to get useful ideas	Nissan 's decades-old corporate song filled with references to Mount Fuji has been scrapped in favor of a snappy tune sung by a popular Japanese vocalist
+0	And in a Japanese corporate first , Nissan recently opened the first coed company dormitory for single employees at the suburban Tokyo technical center	We had lots of internal debate about this one
+0	This corporate glasnost is a big reason Nissan , after years of making lackluster cars and lousy profits , has loosened up its rigid ways and now is riding a string of hits , ranging from the sleek Maxima sedan and Porsche-like 300ZX to the whimsically nostalgic Pao , a minicar sold only in Japan	The company 's turnaround is far from complete
+2	The company 's turnaround is far from complete	many crucial tests are just beginning
+2	The big one : A company 's culture ca n't be radically changed unless top management first admits that things have gone badly awry and then publicly leads the charge	Atsushi Muramatsu , Nissan 's executive vice president for finance , helped set the tone in December 1986 , when the company was heading toward the first operating loss by a Japanese auto maker since the nation 's postwar recovery
+8	Atsushi Muramatsu , Nissan 's executive vice president for finance , helped set the tone in December 1986 , when the company was heading toward the first operating loss by a Japanese auto maker since the nation 's postwar recovery	This is a time of self-criticism to discover what is wrong with us , '' he said
+5	This is a time of self-criticism to discover what is wrong with us , '' he said	Yutaka Kume , who took the helm as Nissan 's president in June 1985 , added simply , `` I am deeply disappointed
+2	No wonder	Nissan , Japan 's second-largest auto maker and the world 's fourth-largest , was getting beat up not only by its bigger rival , Toyota Motor Corp. , but also by Honda Motor Co. , the most successful Japanese car company in the U.S. but a relative pipsqueak in Japan
+5	Nissan 's market share in Japan had been dropping year by year since the beginning of the decade	Its U.S. sales sagged , partly because of price increases due to the rising yen
+5	Its U.S. sales sagged , partly because of price increases due to the rising yen	Worst of all , Nissan was preoccupied with management infighting , cronyism and corporate rigidity
+6	At that time , tasks were assigned strictly on the basis of seniority	The oldest designer got to work on the dashboard
+1	The oldest designer got to work on the dashboard	The next level down did doors
+2	The next level down did doors	If a new person got to work on part of the speedometer , that was a big deal
+2	This system produced boring , boxy cars that consumers just were n't buying	Desperately hoping to spark sales , Nissan transferred 5,000 middle managers and plant workers to dealerships
+6	Some town-watching excursions were downright comic	One group of middle-aged manufacturing men from the company 's Zama plant outside Tokyo was supposed to check out a trendy restaurant in the city
+6	Other trips were more productive	Mr. Kume himself visited Honda 's headquarters in Tokyo 's upscale Aoyama district
+9	Later , Nissan borrowed other Honda practices , including an engineering `` idea contest '' to promote inventiveness	One engineer developed a `` crab car '' that moves sideways
+0	so much so , in fact , that some older employees have resisted	Nissan handled the die-hards in a typically Japanese fashion : They were n't fired but instead `` were neglected
+6	Despite the pain of adjusting , the cultural revolution has begun to yield exciting cars	A year ago , the company completely revamped its near-luxury sedan , the $ 17,699 Maxima , which competes against a broad range of upscale sedans ; it replaced its boxy , pug-nosed body with sleek , aerodynamic lines
+8	A year ago , the company completely revamped its near-luxury sedan , the $ 17,699 Maxima , which competes against a broad range of upscale sedans	it replaced its boxy , pug-nosed body with sleek , aerodynamic lines
+2	A year ago , the company completely revamped its near-luxury sedan , the $ 17,699 Maxima , which competes against a broad range of upscale sedans ; it replaced its boxy , pug-nosed body with sleek , aerodynamic lines.Since then , Nissan also has launched new versions of the $ 13,249 240SX sporty coupe and 300ZX sports car.The restyled 300ZX costs as much as $ 33,000 and is squared off against the Porche 944 , which begins at $ 41,900.Besides new styling , the new Nissans have more powerful engines and more sophisticated suspension systems	All three new models are outselling their predecessors by wide margins
+6	Nissan helped develop a Tokyo restaurant with both vehicles as its design theme	The chairs are S-Cargo seats , and a gift shop sells such items as alarm clocks styled like the Pao 's oversized speedometer
+2	All these vehicles have sharply improved Nissan 's morale and image -- but have n't done much for its market share	Nissan had 29 % of the Japanese car market in 1980 before beginning a depressing eight-year slide that continued through last year
+2	that continued through last year	Strong sales so far this year are certain to turn the tide , but even the 25 % market share that Nissan expects in 1989 will leave it far below its position at the beginning of the decade
+2	Nissan concedes that it wo n't recoup all its market-share losses in Japan until at least 1995 , and even that timetable might prove optimistic	Everyone else is going to catch up '' with Nissan 's innovative designs
+8	Everyone else is going to catch up '' with Nissan 's innovative designs	Nissan 's pace of new-model hits will slow just as arch-rival Toyota unleashes its own batch of new cars
+2	Why	So far , Nissan 's new-model successes are mostly specialized vehicles with limited sales potential
+1	So far , Nissan 's new-model successes are mostly specialized vehicles with limited sales potential	In compact and subcompact cars , the bread-and-butter sales generators for Japanese auto makers , Nissan still trails Toyota and Honda
+9	that that will start to change this fall , with its new version of the Stanza compact sedan	The Stanza has been a nonentity compared with Honda 's hugely successful Accord and Toyota 's Camry
+2	Nissan instead has kept its new Stanza a bit smaller than that and cut the base price 6 %	at $ 11,450 , Stanza prices start $ 749 below the predecessor model yet have a more-powerful engine
+1	at $ 11,450 , Stanza prices start $ 749 below the predecessor model yet have a more-powerful engine	Accord prices start at $ 12,345
+2	Even if the new Stanza succeeds , Nissan will remain behind in the subcompact segment , where its Sentra does n't measure up to the Honda Civic and Toyota Corolla	Nissan will introduce a completely revamped Sentra next fall
+8	Nissan started advertising Infiniti fully eight months before the cars hit American showrooms	The ads featured fences , rocks and pussy-willow buds -- almost anything but the cars themselves
+2	The ads featured fences , rocks and pussy-willow buds -- almost anything but the cars themselves	The ads have generated some laughs but also plenty of attention because they are so unlike any other U.S. auto advertising
+8	On the other hand , Nissan 's sales goals for Infiniti are modest compared with Toyota 's targets for Lexus	Nissan will build only about 3,500 of the $ 38,000 Infiniti Q45 sedans each month , sending about 2,000 of them to the U.S. and keeping the rest for sale in Japan.Toyota wants to sell about 49,000 Lexus LS400 sedans next year in the U.S. alone
+1	Nissan will build only about 3,500 of the $ 38,000 Infiniti Q45 sedans each month , sending about 2,000 of them to the U.S. and keeping the rest for sale in Japan	Toyota wants to sell about 49,000 Lexus LS400 sedans next year in the U.S. alone
+2	that Nissan is being prudent in following its slow-startup strategy instead of simply copying Lexus	Infiniti is Nissan 's big business move for the 21st century
+8	Infiniti is Nissan 's big business move for the 21st century , and we 're in no hurry to generate large profits right away	Despite plans to add two new Infiniti models next year , bringing the total to four , Infiniti wo n't show profits for at least five years
+2	These days Nissan can afford that strategy , even though profits are n't exactly robust	Nissan had record net income of 114.63 billion yen ( $ 868 million ) in the fiscal year ended last March 31 , a remarkable recovery from the 20.39 billion yen of two years earlier , when the company lost money on operations
+8	Nissan had record net income of 114.63 billion yen ( $ 868 million ) in the fiscal year ended last March 31 , a remarkable recovery from the 20.39 billion yen of two years earlier , when the company lost money on operations	Nissan has increased earnings more than market share by cutting costs and by taking advantage of a general surge in Japanese car sales
+6	The big reason : For all its cost-cutting , Nissan remains less efficient than Toyota	In its last fiscal year , Nissan 's profit represented just 2.3 % of sales , compared with 4.3 % at Toyota
+2	In its last fiscal year , Nissan 's profit represented just 2.3 % of sales , compared with 4.3 % at Toyota	To help close the gap , Nissan recently established a top-level cost-cutting committee
+2	Nissan is the world 's only auto maker currently building vehicles in all three of the world 's key economic arenas -- the U.S. , Japan and Europe	That gives it an enviable strategic advantage , at least until its rivals catch up , but also plenty of managerial headaches
+8	We are in a transitional phase from being a Japanese company to becoming an international company based in Japan	that Nissan will soon establish a holding company overseeing all U.S. operations , just as it 's doing in Europe
+2	Already , personnel officials are talking about the need for a `` Phase Two '' cultural-reform effort of some sort	We are still only half way through the turnaround of this company , and there are many more things to do
+9	and had been discussing a joint venture with both Warner and MCA	he chose Warner , the largest record company , because `` their standing in the entertainment industry is second to none
+2	Despite the informal nature of the session and the calculated effort to hold down expectations , the meeting could pay significant political dividends for both leaders	Mr. Gorbachev badly needs a diversion from the serious economic problems and ethnic unrest he faces at home
+2	Mr. Gorbachev badly needs a diversion from the serious economic problems and ethnic unrest he faces at home	that a meeting with the leader of the U.S. could help bolster his stature among Soviet politicians and academics , whose support he needs
+2	For his part , Mr. Bush has been criticized regularly at home for moving too slowly and cautiously in reacting to Mr. Gorbachev 's reforms and the historic moves away from communism in Eastern Europe	A face-to-face meeting with Mr. Gorbachev should damp such criticism , though it will hardly eliminate it
+2	that the December meeting , which was announced simultaneously in Moscow , will be held in the unusual setting of ships at sea to hold down the `` fanfare '' and force the two sides to limit participation to just small groups of advisers	By doing it in this manner we can have more time without the press of social activities or mandatory joint appearances , things of that nature for public consumption
+2	As the two sides plan to hold a full-scale summit in late spring-early summer next year , they found it useful , I would say even necessary , to hold an interim informal meeting	Although no specific agreements are expected that does n't mean they will be without an agenda
+1	The president specifically mentioned U.S. economic advice to Moscow as a possible topic	Mr. Gorbachev has for months been publicly urging the U.S. to drop its restrictions on Soviet trade
+8	Mr. Gorbachev has for months been publicly urging the U.S. to drop its restrictions on Soviet trade	He recently told a small group of American businessmen in Moscow that he hoped to sign a general trade agreement with the U.S. , possibly at the 1990 summit
+2	that he hoped to sign a general trade agreement with the U.S. , possibly at the 1990 summit	a trade agreement would give them Most-Favored Nation status , which would lower the tariffs on Soviet exports to the U.S
+2	In an unusually candid article about the latest economic woe -- unemployment -- Pravda yesterday reported that three million Soviets have lost their jobs as a result of perestroika and the number could grow to 16 million by the year 2005	Economists in Moscow are now proposing that the state start a system of unemployment benefits
+2	Do n't take this as some big opening for major movement on economic cooperation , or arms control , or the environment	Those things will all come up , but in a fairly informal way
+8	This is vintage George Bush	This was George Bush 's own idea
+8	This was George Bush 's own idea	It 's George Bush wanting to meet a foreign leader and talk to him directly
+2	one other issue the Soviets are likely to want to raise is naval force reductions	that , given the meeting 's setting at sea , Gorbachev is unlikely to pass up the opportunity to press once again for negotiated cuts in the navies of both the North Atlantic Treaty Organization and the Warsaw Pact
+8	That theme has been a recurring one for Soviet military officials for much of this year	They argue that as the Kremlin follows through on announced plans to cut land forces -- the Soviets ' area of greatest strength -- the U.S. should show more willingness to cut sea forces -- Washington 's area of greatest superiority
+2	One of the reasons Bush administration aides are anxious to insist that the coming meeting will be informal is to avoid comparisons with the last such loosely structured superpower gathering , former President Reagan 's 1986 meeting with Mr. Gorbachev in Reykjavik , Iceland	That meeting sent shivers through the Western alliance because Mr. Reagan was pulled into discussing the possible elimination of nuclear weapons without consulting American allies
+8	it actually was the arguments of leaders within the Soviet bloc itself that led the president to seek the December meeting	Mr. Bush decided he wanted the meeting after talking in Europe in July with the leaders of Poland and Hungary , who urged him to support Mr. Gorbachev 's efforts to transform the Soviet system and to urge him to loosen his grip on Eastern Europe
+2	Mr. Bush decided he wanted the meeting after talking in Europe in July with the leaders of Poland and Hungary , who urged him to support Mr. Gorbachev 's efforts to transform the Soviet system and to urge him to loosen his grip on Eastern Europe	While flying home from those discussions , Mr. Bush drafted a letter to Mr. Gorbachev suggesting an informal get-together to precede their formal summit next year
+2	that its Georgia branch had taken on loan commitments topping $ 3 billion without the Rome-based management 's approval	State-owned BNL , Italy 's largest bank , has filed charges against the branch 's former manager , Christopher Drogoul , and a former branch vice president , alleging fraud and breach of their fiduciary duties
+2	that its board had approved `` after an in-depth discussion , '' a letter to the Bank of Italy outlining measures the state-owned bank has taken or plans to take to improve controls on its foreign branches	The central bank had ordered BNL to come up with a suitable program by yesterday
+2	Maybe he did n't start it , but Mohandas Gandhi certainly provided a recognizable beginning to non-violent civil disobedience as we know it today	The Mahatma , or `` great souled one , '' instigated several campaigns of passive resistance against the British government in India
+0	The Mahatma , or `` great souled one , '' instigated several campaigns of passive resistance against the British government in India	Unfortunately , according to Webster 's Biographical Dictionary , `` His policies went beyond his control and resulted . . . in riots and disturbances '' and later a renewed campaign of civil disobedience `` resulted in rioting and a second imprisonment
+5	His policies went beyond his control and resulted . . . in riots and disturbances '' and later a renewed campaign of civil disobedience `` resulted in rioting and a second imprisonment	I am not a proponent of everything Gandhi did , but some of his law breaking was justified because India was then under occupation by a foreign power , and Indians were not able to participate fully in decisions that vitally affected them
+2	It is difficult , however , to justify civil disobedience , non-violent or not , where citizens have full recourse to the ballot box to effect change	Where truly representative governments are safeguarded by constitutional protections of human rights and an independent judiciary to construe those rights , there is no excuse for breaking the law because some individual or group disagrees with it
+1	Where truly representative governments are safeguarded by constitutional protections of human rights and an independent judiciary to construe those rights , there is no excuse for breaking the law because some individual or group disagrees with it	There may be a few cases where the law breaking is well pinpointed and so completely non-invasive of the rights of others that it is difficult to criticize it
+6	There may be a few cases where the law breaking is well pinpointed and so completely non-invasive of the rights of others that it is difficult to criticize it	The case of Rosa Parks , the black woman who refused to sit at the back of the bus , comes to mind as an illustration
+1	The public has a tendency to equate lawful demonstrations with non-violent civil disobedience	It is true that both are non-violent , but there is a fundamental difference between them
+8	It is true that both are non-violent , but there is a fundamental difference between them	Lawful demonstrations , such as peaceful picketing and other assemblages that do not disturb the peace or cause a public nuisance or interfere with the rights of others , are rights guaranteed by any truly free system of government.Civil disobedience , violent or non-violent , is intentional law breaking
+1	Lawful demonstrations , such as peaceful picketing and other assemblages that do not disturb the peace or cause a public nuisance or interfere with the rights of others , are rights guaranteed by any truly free system of government	Civil disobedience , violent or non-violent , is intentional law breaking
+8	but , before we get on with that , let me make just a few tangential remarks about lawful demonstrations	They are useful to call public attention to grievances , but they have little value in educating anyone about the issues in dispute
+2	They are useful to call public attention to grievances , but they have little value in educating anyone about the issues in dispute	The delight of television in dramatic confrontation encourages overuse of slogans chanted through bullhorns , militant gestures , accusatory signs and other emotionally inspired tactics
+2	The delight of television in dramatic confrontation encourages overuse of slogans chanted through bullhorns , militant gestures , accusatory signs and other emotionally inspired tactics	Civilized discourse and an environment where compromise can begin are lost in a hostile posture abetted by superficial media interviews
+5	At best , demonstrations are overused and boringly uninformative	at worst , they can become the stimuli that lead to law breaking
+2	Demonstrations are particularly apt to degenerate into criminal conduct when they leave the site of the grievance and become mobile	Petty criminals and street people looking for excitement attach themselves like remora to the fringes of the crowd and use the protest as an excuse for rock throwing , auto trashing , arson , window breaking , looting , pocket picking and general hooliganism
+8	Soon the whole purpose of the demonstration is lost in mob mania	There are better ways to promote a cause
+0	it is difficult to justify	Some find no harm in the misdemeanors of trespass , minor property destruction , blocking traffic and the like
+2	Some find no harm in the misdemeanors of trespass , minor property destruction , blocking traffic and the like	these are small prices to pay for galvanizing action for the all-important cause
+1	these are small prices to pay for galvanizing action for the all-important cause	The crimes may appear small , but the prices can be huge
+8	Assume a neighborhood demonstration to protest speeding on a certain road or a careless accident involving a police car	The protesters lie down in the street , blocking traffic , and will not move until the authorities carry them away
+9	The protesters lie down in the street , blocking traffic , and will not move until the authorities carry them away	Assume that someone caught in the jam has a heart attack
+1	Assume that someone caught in the jam has a heart attack	There is no way to get an ambulance in quickly to move him to a hospital
+2	There is no way to get an ambulance in quickly to move him to a hospital	He dies
+2	He dies	The demonstration was non-violent and involved only a simple misdemeanor , but its impact on that individual was violent and terminal
+5	Assume that a TV network is airing a celebrity interview program with a live audience	The politician appearing is highly controversial and has recently generated a good deal of rancor amid certain groups
+2	The politician appearing is highly controversial and has recently generated a good deal of rancor amid certain groups	In a planned protest against his appearance , several members of the studio audience chain themselves in front of the TV cameras in such a way that the program can not continue
+2	In a planned protest against his appearance , several members of the studio audience chain themselves in front of the TV cameras in such a way that the program can not continue	The network must refund money to the advertisers and loses considerable revenue and prestige
+2	Or maybe the TV network would lose nothing	Geraldo or Phil would probably pull up another camera and interview the chained protesters
+5	Geraldo or Phil would probably pull up another camera and interview the chained protesters	Let us look for a moment at another type of non-violent civil disobedience that only harms other people indirectly , yet does irreparable damage to the nation as a whole
+4	Geraldo or Phil would probably pull up another camera and interview the chained protesters	Let us look for a moment at another type of non-violent civil disobedience that only harms other people indirectly , yet does irreparable damage to the nation as a whole
+8	Let us look for a moment at another type of non-violent civil disobedience that only harms other people indirectly , yet does irreparable damage to the nation as a whole	those young men who chose to disobey their country 's call to arms during the Vietnam war and fled to Canada or some other sanctuary to avoid combat
+2	I am referring to those young men who chose to disobey their country 's call to arms during the Vietnam war and fled to Canada or some other sanctuary to avoid combat	Their cowardly acts of civil disobedience weakened the national fabric and threw additional burdens on those who served honorably in that conflict
+2	Even more at fault are those leaders in and out of government who urged and supported their defections , thereby giving great help and comfort to the enemy propagandists	It is amazing that the ensuing mass executions in Vietnam and Cambodia do not weight more heavily on minds so morally fine-tuned
+1	It is amazing that the ensuing mass executions in Vietnam and Cambodia do not weight more heavily on minds so morally fine-tuned	Worse , it remained to a well-meaning but naive president of the United States to administer the final infamy upon those who fought and died in Vietnam
+1	Under the guise of `` healing the wounds of the nation , '' President Carter pardoned thousands of draft evaders , thus giving dignity to their allegations of the war 's `` immorality	The precedent having been set , who can complain if future generations called upon to defend the U.S. yield to the temptation to avoid the danger of combat by simply declaring the war immoral and hiding until it is over
+8	to point out the extraordinarily high visibility of non-violent civil disobedience in these days of intensive media coverage	Give television a chance to cover live any breaking of the law , and no second invitation will be required
+2	Give television a chance to cover live any breaking of the law , and no second invitation will be required	This brings into question the motives of those who lead civil disobedience demonstrations
+8	This brings into question the motives of those who lead civil disobedience demonstrations	Do they want the spotlight for themselves or for their cause
+5	Here is a good rule of thumb : If the movement produced the leader , the chance that he is sincere is much greater than if the leader produced the movement	In either case , ask yourself whether you have become better informed on the issues under protest by watching the act of civil disobedience
+2	In either case , ask yourself whether you have become better informed on the issues under protest by watching the act of civil disobedience	If you have not , it is probable that a thorough airing of the dispute by calm and rational debate would have been the better course
+2	The tax increase would cover only part of the estimated $ 4 billion to $ 6 billion in total damage caused by the Oct. 17 quake	Aside from as much as $ 3.45 billion in recently approved federal aid , the state is expected to draw from a gubernatorial emergency fund that currently stands at an estimated $ 700 million
+2	The sales-tax plan was preferred over an alternative that would have boosted the state gasoline tax	that a gas-tax increase would take too long and possibly damage chances of a major gas-tax-increasing ballot initiative that voters will consider next June
+5	net rose to $ 108.8 million , or $ 1.35 a share , from $ 90.5 million , or $ 1.12 a share , a year ago	Sales rose 6.2 % to $ 1.45 billion from $ 1.37 billion
+8	After a flat second quarter tied largely to lower newsprint earnings , Kimberly-Clark attributed the gain to improved results in its consumer businesses in North America , Brazil and Korea	Those gains came from higher prices , particularly for disposable diapers and tissue products , and from increased sales , primarily for feminine-care products
+1	Those gains came from higher prices , particularly for disposable diapers and tissue products , and from increased sales , primarily for feminine-care products	Newsprint results continued to be depressed
+1	In the first nine months , profit rose 10 % to $ 313.2 million , or $ 3.89 a share , from $ 283.9 million , or $ 3.53 a share	Sales rose 6.7 % to $ 4.27 billion from $ 4 billion
+8	The 1988-return project starts Jan. 1 and is to be done by May 31 , 1991	Specially trained IRS agents will look for under-reported income and unsupported deductions and credits
+2	The agents will make more than routine inquiries about such items as marital status and dependents	they want to look at living standards and business assets
+5	The agents will make more than routine inquiries about such items as marital status and dependents	they want to look at living standards and business assets
+5	But they also are to see that taxpayers get all allowable tax benefits and to ask if filers who sought IRS aid were satisfied with it	Courts have ruled that taxpayers must submit to TCMP audits , but the IRS will excuse from the fullscale rigors anyone who was audited without change for either 1986 or 1987
+5	Sen. Pryor ( D. , Ark . ) , a leader on the issue who generally backs the House plan , wants some changes -- for one , separate sanctions for negligence and large misstatements of tax owed , not a single penalty	He would ease the proposed penalties for delayed payroll-tax deposits and for faulty Form 1099 and other reports that taxpayers correct voluntarily
+1	He would ease the proposed penalties for delayed payroll-tax deposits and for faulty Form 1099 and other reports that taxpayers correct voluntarily	The General Accounting Office urges Congress to ensure that all penalties retain their force as deterrents
+8	States are following suit	California enacted a rights law in 1988
+5	California enacted a rights law in 1988	In 1989 , Illinois , Kansas , Ohio , Oregon and South Carolina have adopted rights laws
+1	In 1989 , Illinois , Kansas , Ohio , Oregon and South Carolina have adopted rights laws	the features vary
+8	One group is the Committee on State Taxation	its efforts begun in 1989 have led to the introduction of bills in Massachusetts , Minnesota and Colorado to establish evenhanded procedures affecting all kinds of taxpayers
+5	THE MILEAGE RATE allowed for business use of a car in 1989 has risen to 25.5 cents a mile for the first 15,000 from 24 cents in 1988	the rate stays 11 cents for each added mile
+2	HUGO FELLED vast timberlands	South Carolina 's congressional delegation has entered Senate and House bills to provide special casualty-loss treatment and other tax relief for timber growers in the hurricane disaster areas
+2	Charles O. Givens of Mount Vernon , Ind.-investment broker , ex-accountant , and son of a former stable owner-bred Tennessee Walking Horses for six years , raised cattle for four , and never made a profit on either	He claimed losses totaling $ 42,455 -- and the IRS denied them all
+8	Special Judge Galloway noted that Givens managed horse-breeding in a businesslike way	He kept detailed accounts , practiced soil conservation , enhanced his experience by consulting experts , spent several hours a day doing chores , and dropped the sideline when his best brood mare died
+6	Yet he took little businesslike care with his cattle	He had no prior experience and did n't seek business counsel about them
+0	It 's unclear whether Eastern will succeed in overturning the arbitrator 's decision , made in a long-simmering `` pay parity '' dispute that predates both the carrier 's Chapter 11 petition and its 1986 acquisition by Texas Air	All Eastern 's previous court efforts to head off the pilots ' demands have failed
+2	the law is n't clear on how such an arbitration ruling can affect a company 's case	Like any other creditor , the pilots will have to apply to the court for payment of their claim
+2	the company was disappointed by the ruling	The obligation is totally unwarranted
+2	the pilots were extremely pleased	This is a blow not only to Eastern but to the creditors committee
+8	The dispute between Eastern and its pilots is over a `` pay parity '' clause in the pilots ' contract	The clause was part of an agreement in which pilots accepted a substantial pay cut as long as no other labor group got a raise . Shortly after Texas Air took control of Eastern , some Machinists union supervisors received a 20 % pay raise.The pilots argued that this triggered a pay raise for them.Eastern has disputed the claim
+2	Shortly after Texas Air took control of Eastern , some Machinists union supervisors received a 20 % pay raise	The pilots argued that this triggered a pay raise for them
+9	The pilots argued that this triggered a pay raise for them	Eastern has disputed the claim , but a federal district court , an appeals court and now the arbitrator have all sided with the pilots
+8	The two sides do n't even agree about how much money is at issue	The pilots put the amount as high as $ 100 million , the company at $ 65 million
+0	Ironically , many of the pilots involved have left Eastern or are still striking the carrier , which filed for bankruptcy protection March 9	About 800 have crossed the picket lines and returned to work
+8	Few people in the advertising business have raised as many hackles as Alvin A. Achenbaum	The general public may not know his name , but he 's famous -- make that infamous -- in advertising circles
+2	The general public may not know his name , but he 's famous -- make that infamous -- in advertising circles	A marketing consultant , he pioneered slashing ad agency commissions , to the delight of advertising clients and the dismay of agencies
+8	Now , after beating them , Mr. Achenbaum is joining them	Backer Spielvogel Bates Worldwide named Mr. Achenbaum , 62 , vice chairman of professional services , reporting directly to Carl Spielvogel , chairman and chief executive officer
+2	hiring Mr. Achenbaum is a shrewd move for Backer Spielvogel , a unit of Saatchi & Saatchi	Mr. Achenbaum has counted among his clients some of the most visible blue-chip advertisers in the country , including Nissan , Toyota , Seagram and Backer Spielvogel clients Hyundai and J.P. Morgan
+5	At Backer Spielvogel , he will work with clients and potential clients on marketing strategies	aside from agency compensation issues , he helped Nissan , for example , come up with its positioning and pricing for its new Infiniti line
+2	His client contacts , meanwhile , could prove a gold mine for an agency that has had few new business wins of late	I 've done over 40 ad agency searches { for clients } , so I have a pretty good notion of what clients are interested in when they look for an agency
+5	I 've done over 40 ad agency searches { for clients } , so I have a pretty good notion of what clients are interested in when they look for an agency	As a consultant , he has given seminars at agencies including Ogilvy & Mather on how to win new business
+8	At Backer Spielvogel , Mr. Spielvogel 's hallmark has been personal involvement with all major clients	He pampers them ; he invites them to fabulous parties ; he strokes them
+5	He pampers them	he invites them to fabulous parties
+5	He pampers them ; he invites them to fabulous parties	he strokes them
+8	Mr. Achenbaum , too , delves into his clients ' business	Carl has a much higher degree of intimacy with his clients than is ordinary for an agency his size
+2	Mr. Achenbaum 's move follows the announcement last month that his consulting partner , Stanley Canter , 66 , would retire	When the announcement came out , `` I picked up the phone and said , ` Why do n't you come to us
+8	Ad agencies typically earned a straight 15 % commission	if a client spent $ 100 million on TV time , the agency made $ 15 million
+9	But Mr. Achenbaum pioneered negotiated fees , which often worked out to less than 15 %	More recently , he negotiated `` indemnification '' clauses in which an ad agency in some cases must pay a client if it drops the account
+2	He ultimately became so well-known for cutting compensation , however , that clients did n't seek him out for anything else	I was very frustrated
+2	I was very frustrated	The fact of the matter is , I am a marketer
+2	The fact of the matter is , I am a marketer	That 's another reason { for the Backer Spielvogel job }
+8	That 's another reason { for the Backer Spielvogel job	It struck me as a way to get back to what I really want to do
+6	Mr. Achenbaum will work with clients to determine the mix of promotion , merchandising , publicity and other marketing outlets , and to integrate those services	He will concentrate on , among others , J.P. Morgan and Hyundai
+2	He will concentrate on , among others , J.P. Morgan and Hyundai	Mr. Achenbaum helped Morgan in its recent agency search , and he has a long relationship with Hyundai , which is having severe troubles , including declining sales
+2	The trail of revenue is increasingly going away from pure advertising , and going towards other services	Instead of being just an ad agency We have redefined our mission here
+8	We have redefined our mission here	Our mission is to help our clients grow , and to use every tool of marketing communications to accomplish that
+9	Industry executives are wishing Mr. Achenbaum well	Leonard Matthews , then-president of the American Association of Advertising Agencies , called Mr. Achenbaum a `` quisling '' in an incendiary 1987 speech
+1	Leonard Matthews , then-president of the American Association of Advertising Agencies , called Mr. Achenbaum a `` quisling '' in an incendiary 1987 speech	Yesterday , Mr. Matthews , now a consultant with the Stamford , Conn. , firm Matthews & Johnston , quipped , `` I think he 'll be very good at that { new job }
+9	and marks the end of its national cooperative advertising efforts	For years , the company 's ads were tied in with pitches for Cannon sheets or Martex towels , for example , and an announcer at the end of the ads would tell customers where to `` find the true performance label
+8	With the new TV spots , Ogilvy & Mather has opted for a family style with lots of laughter , hugs and tears	We 're making a fairly obvious plea for some emotional reaction
+5	third-quarter net income rose 54 % to $ 5.6 million , or 22 cents a share , from $ 3.6 million , or 15 cents a share , a year earlier	Revenue increased 20 % to $ 246.6 million from $ 204.8 million
+4	The interview did not touch on Singapore 's domestic affairs	Skipping personal pleasantries , Mr. Lee picked up exactly where he left off several months earlier -- before the government crackdown in China -- when he had warned that the orthodox leadership in Beijing feared a plurality of views
+2	It is a very unhappy scene	It took Zhao Ziyang ( former premier and party chief ) 10 years to build a team of economists who understood how the Western economies work and now that team is part in exile , part being rusticated and part missing
+2	and now that team is part in exile , part being rusticated and part missing	Rebuilding that team will take another 10 years
+6	In important particulars , the Soviets are different from the Chinese	They are already industrialized
+2	They are already industrialized	Their problem is one of inefficiency of an industrial economy
+1	Their problem is one of inefficiency of an industrial economy	The Chinese problem is much greater -- it 's how to industrialize to begin with
+0	I would think that the Soviets face a deeper dilemma because they have been more in blinkers than the Chinese -- I mean keeping their people cut off from the outside world	Mikhail Gorbachev is ahead of China 's leaders in his awareness of the world
+2	If America can keep up the present situation -- her markets open for another 15 years , with adjustments , and Japan can grow and not cut back , and so too , Korea , Taiwan , Hong Kong , Singapore , ASEAN , Australia and New Zealand -- then in 15 years , the economies of these countries would be totally restructured to be able to almost sustain growth by themselves	In such an arrangement , `` all benefit
+2	And if the Europeans come in , they benefit too	It 's not a zero-sum game
+8	the goal `` is to have a free and open world trading system	An Asian bloc is n't intended
+5	An Asian bloc is n't intended	That 's not possible
+2	I 'm encouraged	the earlier strident notes struck by { U.S.Commerce Secretary Robert } Mosbacher and { U.S.Trade Representative } Carla Hills have been more rounded
+2	the U.S. is becoming more patient and circumspect	It 's the total relationship that is important
+2	Japan 's recent political turbulence may mean Japan will slow market adjustments	They 'll be more timorous in tackling their own voters , like opening up more to agricultural imports from America , hurting their farmers
+2	What we have done is make it easier for the Philippines to continue to host American bases without it being said they are lackeys of the imperialists and the only ones in Asia or in Southeast Asia	We are willing to share the political burden of being host to America , an imperial power
+2	We are willing to share the political burden of being host to America , an imperial power	We think it is n't such a great burden , that it carries no stigma , and we are prepared to do it
+8	It 's such a mixed-up relationship going back into history	I really do not understand how it is that Filipinos feel so passionately involved in this father figure that they want to dispose of and yet they need
+8	I really do not understand how it is that Filipinos feel so passionately involved in this father figure that they want to dispose of and yet they need	I just do n't understand it
+1	I just do n't understand it	My relationships with the British are totally different
+8	My relationships with the British are totally different	They lorded it over me
+7	They lorded it over me	They did me some good
+7	They did me some good	They did themselves even more good
+7	They did themselves even more good	They let me down when the Japanese came down { during World War II }
+0	They let me down when the Japanese came down { during World War II }	I do n't feel down or done in because I show British serials on my television network or read their books
+8	I do n't feel down or done in because I show British serials on my television network or read their books	it is a normal adult relationship
+1	But the Filipinos and the Americans there 's so much passion about Filipino manhood being diminished as a result of being squatted upon by the Americans and so on	The occasional Englishman tries to put on airs but we let it pass
+2	The occasional Englishman tries to put on airs but we let it pass	It 's just comic when they try to pretend they 're still the master race
+5	The Soviets already are present	sooner or later , the Japanese would have to fill up a large part of the gap on the naval side
+4	sooner or later , the Japanese would have to fill up a large part of the gap on the naval side	Maybe the Chinese , maybe even the Indians
+9	Let 's assume that { former Cambodian leader Prince Norodom } Sihanouk does what the press wants him to do and joins up with { Vietnamese-backed Cambodian leader } Hun Sen	Is the trouble over
+2	Let 's assume that { former Cambodian leader Prince Norodom } Sihanouk does what the press wants him to do and joins up with { Vietnamese-backed Cambodian leader } Hun Sen	Is the trouble over
+8	Is the trouble over	Can Sihanouk and Hun Sen knock off the Khmer Rouge still supported by China
+1	Can Sihanouk and Hun Sen knock off the Khmer Rouge still supported by China	He ca n't
+8	What is the way forward	To get the Khmer Rouge as part of a process for elections
+8	And when they lose , then we can expect China to stop aid	Let 's put it bluntly.The Chinese can not be seen to have made use of the Khmer Rouge and then discard them
+5	Ms. House is vice president of Dow Jones International Group	Mr. Wain is editor of The Asian Wall Street Journal
+2	Using small electrical shocks applied to her feet , they were able to monitor sensory nerves	The shocks generated nerve impulses that traveled via spine to brain and showed up clearly on a brain-wave monitor , indicating no damage to the delicate spinal tissue
+8	Dr. Levy 's answer may come with a new kind of magnetic brain probe , a device that he and dozens of U.S. researchers are studying with great hope	Besides holding the promise of safer spinal surgery , the probe could improve the diagnosis of brain and nerve disorders such as strokes and multiple sclerosis
+5	Besides holding the promise of safer spinal surgery , the probe could improve the diagnosis of brain and nerve disorders such as strokes and multiple sclerosis	Perhaps most exciting , the device is thrusting open a window to the workings of the brain
+2	The probe , which is painless , non-invasive and apparently harmless , employs strong magnetic fields to induce small whirlwinds of electricity within the brain	If positioned over the brain 's motor-control area , the hand-held electromagnets generate nerve impulses that zip down motor nerves and activate muscles , making , say , a finger twitch
+6	The probe , which is painless , non-invasive and apparently harmless , employs strong magnetic fields to induce small whirlwinds of electricity within the brain	If positioned over the brain 's motor-control area , the hand-held electromagnets generate nerve impulses that zip down motor nerves and activate muscles , making , say , a finger twitch
+2	If positioned over the brain 's motor-control area , the hand-held electromagnets generate nerve impulses that zip down motor nerves and activate muscles , making , say , a finger twitch	In principle , they will enable doctors to check the body 's motor system the way an electrician tests a home 's electrical circuits by running current through them
+4	Until now , we 've had no objective way of measuring motor function	All we could do was tell a patient , ` squeeze my fingers as hard as you can ' or ` raise your arm
+0	All we could do was tell a patient , ` squeeze my fingers as hard as you can ' or ` raise your arm	Under the best circumstances such tests are subjective
+1	Under the best circumstances such tests are subjective	when a patient is unconscious , they do n't work at all
+9	Magnetic brain tweaking started in the early 1900s , when researchers produced flashes of light in the visual field with magnets	In the 1960s , Mayo Clinic researchers developed magnetic devices to stimulate motor nerves in the hand and other limbs
+5	Since then , at least two commercial versions have been put on the U.S. market , and an estimated 500 have been sold	In August , a Chicago conference on such devices attracted more than 100 researchers , who reported studies on everything from brain mapping to physical therapy
+5	The main sensation , besides feeling like a puppet jerked with invisible strings , is `` like a rap on the head	One apparent side effect is a minor increase in a brain hormone
+8	At least two companies , Cadwell Laboratories Inc. of Kennewick , Wash. , and Novametrix Medical Systems Inc. of Wallingford , Conn. , now sell versions of the magnetic devices	The machines , which at $ 12,500 are inexpensive by medical standards , have n't been approved in the U.S. for marketing as brain stimulators but are sold for stimulating nerves in the hand , legs and other non-brain areas
+1	The machines , which at $ 12,500 are inexpensive by medical standards , have n't been approved in the U.S. for marketing as brain stimulators but are sold for stimulating nerves in the hand , legs and other non-brain areas	Researchers can apply for permission to use the probes for brain studies
+6	The devices ' most remarkable possibilities , though , involve the brain	Probing with the stimulators , National Institutes of Health scientists recently showed how the brain reorganizes motor-control resources after an amputation
+5	Probing with the stimulators , National Institutes of Health scientists recently showed how the brain reorganizes motor-control resources after an amputation	Similar studies are expected to reveal how stroke patients ' brains regroup -- a first step toward finding ways to bolster that process and speed rehabilitation
+6	Scientists also are exploring memory and perception with the new machines	At the State University of New York at Brooklyn , researchers flash two groups of different letters on a computer screen in front of human guinea pigs
+10	At the State University of New York at Brooklyn , researchers flash two groups of different letters on a computer screen in front of human guinea pigs	Between flashes , certain areas in subjects ' brains are jolted with a magnetic stimulator
+5	At the State University of New York at Brooklyn , researchers flash two groups of different letters on a computer screen in front of human guinea pigs	Between flashes , certain areas in subjects ' brains are jolted with a magnetic stimulator
+2	Where does that first stimulus go	Trying to answer that is suggesting all kinds of theories , '' such as precisely where and how the brain processes incoming signals from the eyes
+5	The Wilmington , Del. , chemicals concern previously signed research superconductor agreements with Oak Ridge National Laboratory and with Argonne National Laboratory	Last year , Du Pont agreed to pay $ 4.5 million for rights to superconductor work at the University of Houston
+5	it issued $ 350 million of securities backed by credit-card receivables	The offering was priced with an 8.95 % coupon rate at 99.1875 % to yield 9.19 %
+9	As part of the transaction , J.C. Penney will sell a portion of its credit-card receivables to its JCP Receivables Inc. unit , which will then transfer them to a master trust	The trust will issue the certificates
+5	Here in this new center for Japanese assembly plants just across the border from San Diego , turnover is dizzying , infrastructure shoddy , bureaucracy intense	Even after-hours drag
+2	Even after-hours drag	karaoke '' bars , where Japanese revelers sing over recorded music , are prohibited by Mexico 's powerful musicians union
+8	Even after-hours drag	karaoke '' bars , where Japanese revelers sing over recorded music , are prohibited by Mexico 's powerful musicians union
+2	Still , 20 Japanese companies , including giants such as Sanyo Industries Corp. , Matsushita Electronics Components Corp. and Sony Corp. have set up shop in the state of Northern Baja California	Keeping the Japanese happy will be one of the most important tasks facing conservative leader Ernesto Ruffo when he takes office Nov. 1 , as the first opposition governor in Mexico 's modern history
+6	But the two countries remain separated by a cultural barrier wider than the ocean	Conservative Japanese investors are put off by what they consider Mexico 's restrictive investment regulations and loose work habits
+1	Conservative Japanese investors are put off by what they consider Mexico 's restrictive investment regulations and loose work habits	From the Mexicans ' viewpoint , vaunted tactics of methodical Japanese managers do n't count for much in a land where a saying says `` there are no fixed rules
+8	Mexican President Carlos Salinas de Gortari would like to change that	The young president so admires Japanese discipline that he sends his children to a Japanese school in Mexico City
+5	The young president so admires Japanese discipline that he sends his children to a Japanese school in Mexico City	He already has finagled a $ 2 billion loan from the Japanese government
+2	But Mexico urgently needs more help	Mr. Salinas 's unpopular Institutional Revolutionary Party , or PRI , faces congressional elections in 1991.For the PRI to stand a chance , Mr. Salinas has to press on with an economic program that so far has succeeded in lowering inflation and providing moderate economic growth
+2	But maintaining the key components of his strategy will consume enormous amounts of foreign exchange	Mr. Salinas needs big investment inflows -- quickly
+8	The problem is that Japanese businesses make decisions with a view well beyond the coming months that weigh so heavily on Mr. Salinas	The Japanese will come to Mexico , but not immediately
+1	The Japanese will come to Mexico , but not immediately	If not now , when
+8	Pressed on the matter , he is more specific	There will be big Japanese investments probably five to 10 years from now
+8	Ryukichi Imai , Japan 's ambassador to Mexico , agrees that Mexico may be too eager	There seems to be a presumption in some sectors of ( Mexico 's ) government that there is a lot of Japanese money waiting behind the gate , and that by slightly opening the gate , that money will enter Mexico
+1	There seems to be a presumption in some sectors of ( Mexico 's ) government that there is a lot of Japanese money waiting behind the gate , and that by slightly opening the gate , that money will enter Mexico	that is the case
+6	Mexican officials maintain the Japanese reserve is only a result of unfamiliarity	Because of distance , it takes a while for them to appreciate the economic stability we 've achieved , '' says one economic policymaker
+2	Mexico is sending a number of missions to Japan looking for a major breakthrough investment in telecommunications , petrochemicals or tourism	It is hoped that other Japanese would then follow the leader
+8	but also reservations about Mexico 's recently revamped investment law	Unable to get a new law through a congress with a strong leftist bloc , Mexico jury-rigged the existing law 's regulations.It created special 20-year trusts to allow foreigners 100 % ownership in some once-closed industries.It also made artful use of semantics , redefining as non-strategic industries some that had been in the national domain
+8	Unable to get a new law through a congress with a strong leftist bloc , Mexico jury-rigged the existing law 's regulations	It created special 20-year trusts to allow foreigners 100 % ownership in some once-closed industries
+5	Most of the 10 analysts polled last week by Dow Jones International News Service in Frankfurt , Tokyo , London and New York expect the U.S. dollar to ease only mildly in November	Opinion is mixed over its three-month prospects
+8	Opinion is mixed over its three-month prospects	Half of those polled see the currency trending lower over the next three months , while the others forecast a modest rebound after the New Year
+1	In late afternoon New York trading yesterday , the dollar stood at 1.8415 West German marks , up from 1.8340 marks late Monday , and at 142.85 yen , up from 141.90 yen late Monday	A month ago , a similar survey predicted the dollar would be trading at 1.8690 marks and 139.75 yen by the end of October
+8	By late January , the consensus calls for the dollar to be trading around 1.8200 marks and near 142 yen	Those with a bullish view see the dollar trading up near 1.9000 marks and 145 yen , while the dollar bears see the U.S. currency trading around 1.7600 marks and 138 yen
+8	that new home sales for September were down 14 % from August 's revised 3.1 % fall	The drop marked the largest monthly tumble since a 19 % slide in January 1982
+9	Indeed , in early October the West German central bank raised its discount and Lombard rates by a full percentage point	Several other European central banks , notably in Britain , followed the West German Bundesbank 's lead by raising their own key rates
+8	the key dollar-yen exchange rate is at 135 yen	If 135 is broken , some panic will be seen
+2	he expects the dollar to recover within the next three months to around 1.88 marks as U.S. economic data , particularly U.S. trade figures , level off	that the Fed wo n't ease rates further , but predicted Bundesbank officials will relax key rates in West Germany
+8	Alfred Zapfel , chief trader at Bank of Boston in Frankfurt , took an opposite stance	he expects U.S. interest rates to decline , dragging the dollar down to around 1.80 marks by the end of January after a short-lived dash to 1.87 marks by the end of November
+1	he expects U.S. interest rates to decline , dragging the dollar down to around 1.80 marks by the end of January after a short-lived dash to 1.87 marks by the end of November	West German interest rates will remain unchanged
+2	But I 'm not one of these great dollar bears you see more of these days	I ca n't really see it dropping far below 1.80 marks
+2	Scott Greene , chief foreign exchange dealer with Julius Baer & Co. in New York , fits the description of a `` great dollar bear	He predicted the U.S. unit will skid below 1.80 marks to around 1.78 marks this month and 1.75 marks by the beginning of the new year
+1	Earlier this year , President Bush made a final `` take-it-or-leave it '' offer on the minimum wage : an increase to $ 4.25 an hour over three years , and only if accompanied by a lower wage for the first six months of a job	Now , the White House has decided to accept the higher wage over only two years
+5	Now , the White House has decided to accept the higher wage over only two years	The sub-minimum wage would apply only to first-time teen-age workers for 90 days
+2	The White House had enough votes to sustain a veto but chose to avoid a confrontation	The only permanent losers will be the 200,000 or so workers everyone agrees will be priced out of a job at the $ 4.25 rate Congress is likely to approve today
+8	The only permanent losers will be the 200,000 or so workers everyone agrees will be priced out of a job at the $ 4.25 rate Congress is likely to approve today	It is compromises such as this that convince Washington 's liberals that if they simply stay the course , this administration will stray from its own course on this and other issues
+1	A separate inquiry by Chemical cleared Mr. Edelson of allegations that he had been lavishly entertained by a New York money broker	That inquiry has n't resolved similar allegations involving another Chemical options trader
+5	A Chemical spokeswoman said the second-quarter charge was `` not material '' and that no personnel changes were made as a result	The spokeswoman said the Frankfurt situation was `` totally different '' from problems in the interest-rate options unit
+6	These complex products require close monitoring because each must be valued separately in light of current market conditions	In an interest-rate options contract , a client pays a fee to a bank for custom-tailored protection against adverse interest-rate swings for a specified period
+5	In an interest-rate options contract , a client pays a fee to a bank for custom-tailored protection against adverse interest-rate swings for a specified period	In a forward-rate agreement , a client agrees to an exchange rate on a future currency transaction
+6	Started three years ago , Chemical 's interest-rate options group was a leading force in the field	From 1987 to 1988 , the value of Chemical 's option contracts outstanding mushroomed to $ 37 billion from $ 17 billion
+2	More importantly , the volume of options written exceeded those purchased by almost 2-to-1	With such a lopsided book of options Chemical was more vulnerable to erroneous valuation assumptions
+5	We consider our internal controls to have worked well	Its valuation methodologies are recognized as some of the best on the Street
+2	ts valuation methodologies `` are recognized as some of the best on the Street	Not a lot was needed to be done
+8	The missing watch is emblematic of the problems Mr. Wathen encountered in building his closely held California Plant Protection Security Service into the largest detective and security agency in the U.S. through acquisitions	The ever-optimistic Mr. Wathen has learned that while acquiring a big brand-name company can be a shortcut to growth , it can also bring a host of unforeseen problems
+8	Mr. Wathen built his California Plant Protection from a tiny mom-and-pop security patrol firm here in the San Fernando Valley	He joined the firm in 1963 and bought it from the owners the next year
+5	he could easily merge Pinkerton 's operations with his own while slashing overhead costs because the two already operated in many of the same cities	He could acquire a staff of loyal Pinkerton 's employees , many of whom had spent their entire careers with the firm , he could eliminate a competitor and he could get the name recognition he 'd wanted
+8	The security business is my favorite subject	I love this business
+1	I love this business	Most of the LBO guys do n't know how to run a business anyway
+8	But there were hitches , not the least of which was that he proceeded almost blindly in doing the $ 95 million acquisition	We were n't allowed to do any due diligence because of competitive reasons
+1	We were n't allowed to do any due diligence because of competitive reasons	If we had , it might have scared us off
+6	Five years of rapid expansion under American Brands , with an emphasis on marketing the agency 's services instead of improving them , had hurt Pinkerton 's profits	his team could n't tell whether accounts receivable had been paid or not
+5	his team could n't tell whether accounts receivable had been paid or not	Pinkerton 's had locked itself into low-price contracts to win new business , with no hope of profitability until the contracts expired
+6	And regional offices were `` egregiously overstaffed	One office had 19 people doing the work of three
+8	his turnaround strategy has been simple : just hack away at the fat	He began by closing 120 of the combined companies ' 260 offices in two months , eliminating about 31 % of the company 's 2,500-person adminstrative staff , including more than 100 sales positions
+5	He began by closing 120 of the combined companies ' 260 offices in two months , eliminating about 31 % of the company 's 2,500-person adminstrative staff , including more than 100 sales positions	He shut down the company 's tony New York headquarters
+5	But Mr. Wathen 's team still must pay down about $ 82 million of long-term bank debt from the acquisition within the next four years	Last year , earnings of the combined companies did n't cover debt service and Pinkerton 's was forced to borrow $ 20 million of subordinated debt
+1	and Pinkerton 's was forced to borrow $ 20 million of subordinated debt	We would n't have had to refinance if a lot of the problems had n't been there
+1	We would n't have had to refinance if a lot of the problems had n't been there	This year the firm will be able to service debt and still turn a modest profit
+2	Now Pinkerton 's could become entangled in a protracted legal fracas with its former parent	The company recently filed suit in state court in Los Angeles against American Brands , seeking at least $ 40 million in damages from the Old Greenwich , Conn.-based company
+5	that an inventory of Pinkerton 's memorabilia disclosed that one of the watches had n't been forked over by American Brands	American Brand 's failure to surrender the gold watch has damaged new Pinkerton 's in an amount as yet { to be } determined and deprived it of a valuable artifact for which it had bargained
+1	American Brands `` just had a different approach	Their approach did n't work
+5	Broiler prices fell 6.5 cents in October to 30.6 cents a pound , while turkey prices rose 1.2 cents a pound to 38.5 cents	Egg prices averaged 64.2 cents a dozen , down 0.2 cent from September
+5	Paramount , which agreed to sell the unit in July , said it would realize net proceeds from the sale of $ 2.6 billion , with an after-tax gain of $ 1.2 billion	Paramount said the gain would be recorded in its fourth quarter , which ended yesterday
+9	it will move immediately to sell two ports , various ferries , ferry services , containers , and other investments	Of the proceeds , $ 500 million will be used to fund its tender offer
+0	Of the proceeds , $ 500 million will be used to fund its tender offer	Sea Containers added that the recapitalization plan will reduce its debt by more than $ 500 million
+2	that it was considering a restructuring to ward off a hostile takeover attempt by two European shipping concerns	In late May , Stena Holding AG and Tiphook PLC , launched a $ 50-a-share , or $ 777 million , tender offer for the Hamilton , Bermuda-based Sea Containers
+9	In late May , Stena Holding AG and Tiphook PLC , launched a $ 50-a-share , or $ 777 million , tender offer for the Hamilton , Bermuda-based Sea Containers	In mid-August , the companies , through their jointly owned holding company , Temple Holdings Ltd. , sweetened the offer to $ 63 a share , or $ 963 million
+5	that offering holders a higher , $ 70-a-share price is `` a fairly effective method of blocking '' the Stena-Tiphook bid	that the sale of assets would allow Sea Containers to focus on its core container businesses
+5	For holders who decide not to tender their shares , Sea Containers will issue one share of preferred stock with a stated value of $ 25 , plus a cash dividend on the common stock	its directors , management and subsidiaries will remain long-term investors and wo n't tender any of their shares under the offer
+2	the court has indicated it will make a decision on or about Nov. 27	Sea Containers will soon set a date for its annual shareholder meeting to seek holder approval for the offer
+0	You 'd think all the stories about well-heeled communities and developers getting HUD grants would prompt Congress to tighten up on upscale housing subsidies	No way
+1	No way	Congress has just made it easier for the affluent to qualify for insured loans from the deficit-ridden Federal Housing Administration
+8	Congress has just made it easier for the affluent to qualify for insured loans from the deficit-ridden Federal Housing Administration	It appears that the only thing Congress is learning from the HUD story is how to enlarge its control of the honey pot going to special interests
+1	Right now , the largest loan the FHA can insure in high-cost housing markets is $ 101,250	Last week , housing lobbies persuaded Congress to raise the ceiling to $ 124,875 , making FHA loans more accessible to the well-to-do
+5	But it does that at the cost of deepening the taxpayer 's exposure if the FHA is forced to pay for more loans going sour	This is no idle fearlast year the FHA lost $ 4.2 billion in loan defaults
+6	But the higher mortgage ceiling is only the starter kit for what Senator Alan Cranston and Majority Leader George Mitchell have in mind for housing	The Senate Banking Committee will begin hearings next week on their proposal to expand existing federal housing programs
+5	The Senate Banking Committee will begin hearings next week on their proposal to expand existing federal housing programs	Other Senators want to lower the down payments required on FHA-insured loans
+2	That would be a formula for ensuring even more FHA red ink	Experience has shown that the most important element in predicting a housing-loan default is the down payment
+2	Because a purchaser can use an FHA loan to finance all points and closing costs , the FHA can wind up lending more than a house is worth	If housing prices continue to fall , many borrowers would be better off walking away from their homes and leaving taxpayers with the losses
+5	If housing prices continue to fall , many borrowers would be better off walking away from their homes and leaving taxpayers with the losses	Much the same thing happened with busted S & Ls , a problem Congress just `` solved '' with a $ 166 billion bailout
+1	that HUD Secretary Jack Kemp is toying with going along with some of the Cranston-Mitchell proposals	That sounds like a formula for ensuring that he gets dragged into the next HUD tar pit
+5	That sounds like a formula for ensuring that he gets dragged into the next HUD tar pit	A group of 27 Senators has written Mr. Kemp urging him to reject Cranston-Mitchell and focus on programs that empower the poor rather than create vast new government obligations
+2	Exhibit A is last week 's House vote to fund 40 pet projects out of the same discretionary fund that is at the heart of the HUD scandal	None of the grants had been requested by HUD , judged competitively or were the subject of a single hearing
+6	More and more observers now realize that the key to ending future HUD scandals lies in forcing Congress to clean up its own act	This week , a Baltimore Sun editorial said the Lantos subcommittee on HUD should forget about Sam Pierce 's testimony for the moment and call some other witnesses : the various congressional sponsors of the 40 pork-barrel projects
+2	that Mr. Pierce is only part of the problem -- and a part that 's gone	If HUD is to be reformed Members of Congress will `` have to start looking into , and doing something about , the practices of their colleagues
+1	Of course , self-reform is about the last thing this Congress is interested in	Proponents of expanding FHA programs say they merely want to help home buyers who are frozen out of high-priced markets
+5	Proponents of expanding FHA programs say they merely want to help home buyers who are frozen out of high-priced markets.But the FHA program is hemorrhaging bad loans	Jack Kemp has submitted a package of reforms , and they are surely headed for the Capitol Hill sausage-grinder
+1	and they are surely headed for the Capitol Hill sausage-grinder	Like the S & L mess before it , this is a problem Congress should be solving , not ignoring
+8	it is planning to restructure its South African subsidiary	Under the plan , Gillette South Africa will sell manufacturing facilities in Springs , South Africa , and its business in toiletries and plastic bags to Twins Pharmaceuticals Ltd. , an affiliate of Anglo American Corp. , a South African company
+1	it is part of a continuing world-wide restructuring in which it has downsized or sold operations in several countries	its continued presence in South Africa `` enables it to make meaningful contributions to South African society , to the lives of its employees and to the communities in which it operates
+8	But often nothing 's resolved , To my frustration and fury	With pros and cons in limbo , I feel like a hung jury
+1	In the third quarter , the company , which is 61 % -owned by Murphy Oil Corp. of Arkansas , had a net loss of $ 46.9 million , or 91 cents a share , compared with a restated loss of $ 9 million , or 18 cents a share , a year ago	The latest period had profit from continuing operations of $ 4 million
+5	The latest period had profit from continuing operations of $ 4 million	Revenue gained 13 % to $ 77.3 million from $ 68.5 million
+6	Corporate leaders , frustrated by double-digit increases in health-care costs , are beginning to sound like liberal Democrats	Failure to check rising medical costs ultimately could `` lead some of us who today are free-market advocates to re-examine our thinking and positions with respect to government-sponsored national health insurance , '' Arthur Puccini , a General Electric Co. vice president , warned earlier this year
+8	The pocketbook impact of health benefits has driven business and labor to a surprising consensus	Both the AFL-CIO and the National Association of Manufacturers are calling for measures to control rising costs , improve quality and provide care to the 31 million Americans who currently lack health insurance
+6	But there are signs that labor-management cooperation could change the politics of health-care legislation and the economics of medicine	I ca n't remember a time when virtually everyone can agree on what the problem is
+2	Business across the country is spending more time addressing this issue	It 's a bottom-line issue
+6	It 's a bottom-line issue	Business complained earlier this year when Sen. Kennedy introduced a bill that would require employers to provide a minimum level of health insurance to workers but does n't contain cost-control measures
+2	when Sen. Kennedy introduced a bill that would require employers to provide a minimum level of health insurance to workers but does n't contain cost-control measures	Partly in response , a bipartisan group of senators from the finance and labor committees is drafting a plan to attract broader support
+8	to attract broader support	It will feature a cost-containment provision designed to keep expanded benefits from fueling higher care prices
+2	At 11.1 % of gross national product , U.S. health costs already are the highest in the world.By contrast , Japan 's equal 6.7 % of GNP , a nation 's total output of goods and services	Management and labor worry that the gap makes U.S. companies less competitive
+2	that health costs add $ 700 to the price of each of its cars , about $ 300 to $ 500 more per car than foreign competitors pay for health	The cost of health care is eroding standards of living and sapping industrial strength
+6	Labor is upset because many companies are using higher employee insurance premiums , deductibles and co-payments to deflect surging medical costs to workers	Health benefits are contentious issues in the strikes against Pittston Co. and Nynex Corp
+5	Health benefits are contentious issues in the strikes against Pittston Co. and Nynex Corp	In their new contract this year , American Telephone & Telegraph Co. and the Communications Workers of America agreed to look for `` prompt and lasting national solutions '' to rising health-care costs
+6	Some analysts are cynical about the new corporate interest in health-care overhaul	Carl Schramm , president of the Health Insurance Association of America , scoffs at `` capitalists who want to socialize the entire financing system '' for health
+2	capitalists who want to socialize the entire financing system '' for health	They hope they can buy some government cost discipline , '' but this is a false hope
+1	They hope they can buy some government cost discipline , '' but this is a false hope	that government has done an even worse job of controlling its health bill than business
+2	So far neither the Bush administration nor Congress is prepared to lead the way toward revamping health care	The administration lacks a comprehensive health-care policy.Congress still is struggling to dismantle the unpopular Catastrophic Care Act of 1988 , which boosted benefits for the elderly and taxed them to pay for the new coverage
+5	The administration lacks a comprehensive health-care policy	Congress still is struggling to dismantle the unpopular Catastrophic Care Act of 1988 , which boosted benefits for the elderly and taxed them to pay for the new coverage
+5	A bipartisan commission established by Congress and headed by Sen. John Rockefeller ( D. , W.Va. ) is scheduled to present new plans for dealing with the uninsured and long-term care for the elderly by next March 1	A quadrennial commission appointed by Health and Human Services Secretary Louis Sullivan is taking a broad look at the economics of Medicare for the elderly , Medicaid for the poor and the health system in general
+2	But 1991 could be a window for action	The pressure for change will rise with costs
+2	The pressure for change will rise with costs	employers are really going to be the ones to push for major change
+2	The NAM embraces efforts to measure the effectiveness of medical treatments and then to draft medical-practice guidelines	that such standards will improve treatment while limiting unnecessary tests and medical procedures
+8	that such standards will improve treatment while limiting unnecessary tests and medical procedures	that as much as 25 % of the medical procedures performed each year may be inappropriate or unnecessary
+2	Limiting care wo n't be easy or popular	To slow the rise in total spending , it will be necessary to reduce per-capita use of services
+2	To slow the rise in total spending , it will be necessary to reduce per-capita use of services	This will `` require us to define -- and redefine -- what is ` necessary ' or ` appropriate ' care
+5	This will `` require us to define -- and redefine -- what is ` necessary ' or ` appropriate ' care	This involves trade-offs and { it } cuts against the grain of existing consumer and even provider conceptions of what is ` necessary
+2	This will `` require us to define -- and redefine -- what is ` necessary ' or ` appropriate ' care	This involves trade-offs and { it } cuts against the grain of existing consumer and even provider conceptions of what is ` necessary
+5	it has an option to lease a 350,000-square-foot building in Brantford and proposes to spend 24.5 million Canadian dollars ( US $ 20.9 million ) on the facility	The three existing plants and their land will be sold
+5	that all terms of the offer are negotiable	that he had spoken with Mr. Laidig by telephone Monday evening
+5	Yesterday , Nekoosa common closed in composite New York Stock Exchange trading at $ 62.875 , up $ 20.125 , on volume of almost 6.3 million shares	Georgia-Pacific closed down $ 2.50 , at $ 50.875 in Big Board trading
+2	For the paper industry specifically the deal will spur a wave of paper-company takeovers , possibly involving such companies as Union Camp Corp. , Federal Paperboard Co. and Mead Corp	that Georgia-Pacific 's offer , the first hostile bid ever among major players in the paper industry , ends the unwritten taboo on hostile bids , and will push managements to look closely at the industry 's several attractive takeover candidates
+1	Consolidation has been long overdue	It was just the culture of the industry that kept it from happening
+2	It was just the culture of the industry that kept it from happening	The Georgia-Pacific offer has definitely changed the landscape
+2	The Georgia-Pacific offer has definitely changed the landscape	It 's much easier to be second
+2	A Georgia-Pacific acquisition of Nekoosa would create the largest U.S. forest-products company	Based on 1988 sales , Georgia-Pacific ranked third at $ 9.51 billion , behind Weyerhaeuser Co. at $ 10 billion and International Paper Co. at $ 9.53 billion.Nekoosa ranked 11th with sales of $ 3.59 billion.The combined company would have had 1988 sales of $ 13.1 billion
+5	Based on 1988 sales , Georgia-Pacific ranked third at $ 9.51 billion , behind Weyerhaeuser Co. at $ 10 billion and International Paper Co. at $ 9.53 billion	Nekoosa ranked 11th with sales of $ 3.59 billion
+2	Based on 1988 sales , Georgia-Pacific ranked third at $ 9.51 billion , behind Weyerhaeuser Co. at $ 10 billion and International Paper Co. at $ 9.53 billion.Nekoosa ranked 11th with sales of $ 3.59 billion	The combined company would have had 1988 sales of $ 13.1 billion
+8	But such a combination also presents great risks	At a time when most analysts and industry consultants say pulp and paper prices are heading for a dive , adding capacity and debt could squeeze Georgia-Pacific if the industry declines more than the company expects
+2	Nobody knows how deep the cycle is going to be	Depending on how far down you go , it may be difficult to pay off that debt
+6	that a combined operation would allow savings in many ways	The two companies each produce market pulp , containerboard and white paper
+2	that even under those conditions , the company still would realize a savings of tens of millions of dollars in the first year following a merger	The fit is so good , we see this as a time of opportunity
+0	its board is n't likely to meet before the week after next to respond to the bid	The board has 10 business days to respond
+2	In addition to the usual array of defenses , including a so-called poison pill and a staggered board , Nekoosa has another takeover defense : a Maine state law barring hostile bidders from merging acquired businesses for five years	Nekoosa is incorporated in Maine
+5	Among companies mentioned by analysts as possible counterbidders for Nekoosa are International Paper , Weyerhaeuser , Canadian Pacific Ltd. and MacMillan Bloedel Ltd	I 'm sure everybody else is putting pencil to paper
+5	International Paper and Weyerhaeuser declined to comment	Canadian Pacific could n't be reached for comment , and MacMillan Bloedel said it has n't any plans to make a bid for Nekoosa
+6	Investors were quick to spot other potential takeover candidates , all of which have strong cash flows and low-cost operations	Among paper company stocks that rallied on the Big Board because of the offer were Union Camp , up $ 2.75 to $ 37.75 , Federal Paperboard , up $ 1.75 to $ 27.875 , Mead , up $ 2.375 to $ 38.75 , and Temple Inland Inc. , up $ 3.75 to $ 62.25
+5	Among paper company stocks that rallied on the Big Board because of the offer were Union Camp , up $ 2.75 to $ 37.75 , Federal Paperboard , up $ 1.75 to $ 27.875 , Mead , up $ 2.375 to $ 38.75 , and Temple Inland Inc. , up $ 3.75 to $ 62.25	In over-the-counter national trading , Bowater Inc. jumped $ 1.50 to $ 27.50
+2	I do n't think anyone is now immune from takeover	Every paper company management has to be saying to itself , ` Before someone comes after me , I 'm going to go after somebody . '
+8	he does n't see the industry 's capacity-expansion program hindering takeover activity	Several projects are still on the drawing board
+5	Indeed , a number of analysts said that Japanese paper companies are hungry to acquire additional manufacturing capacity anywhere in the world	Some predicted that Nekoosa will end up being owned by a Japanese company
+2	One would have thought this would have happened two or three years ago as the labor market tightened	It is a considerably delayed reaction
+6	The new data underscored the severity of the nation 's health-care cost problem	In the 12 months ended in September , wages and salaries of private-sector workers rose 4.4 % , while health insurance costs spurted by 13.7 %
+1	In the 12 months ended in September , wages and salaries of private-sector workers rose 4.4 % , while health insurance costs spurted by 13.7 %	The consumer price index climbed 4.3 % in the same period
+10	In the 12 months ended in September , wages and salaries of private-sector workers rose 4.4 % , while health insurance costs spurted by 13.7 %	The consumer price index climbed 4.3 % in the same period
+2	Despite the big increases in health-care costs , wages still account for a far greater share of overall labor costs	The overall private-sector employment cost index , which includes both wages and benefits , rose 4.7 % in the 12 months ended in September , compared with 4.5 % for both the 12 months ended in June and the 12 months ended September 1988
+8	For the past five years , unions have n't managed to win wage increases as large as those granted to nonunion workers	For private-sector union workers , the cost of wages and benefits rose 0.9 % in the third quarter.For nonunion workers , the costs rose 1.4 %
+1	For private-sector union workers , the cost of wages and benefits rose 0.9 % in the third quarter	For nonunion workers , the costs rose 1.4 %
+1	Including employees of state and local governments , the employment cost index rose 1.6 % in the third quarter , compared with a 1.3 % rise in the same quarter in 1988	The index rose 1.1 % in the second quarter
+1	For the 12 months ended in September , this index was up 5.1 %	It rose 4.8 % for the 12 months ended in June and 4.7 % in the 12 months ended in September 1988
+1	However , StatesWest is n't abandoning its pursuit of the much-larger Mesa	it may purchase more Mesa stock or make a tender offer directly to Mesa shareholders
+1	StatesWest serves 10 cities in California , Arizona and Nevada	Mesa flies to 42 cities in New Mexico , Arizona , Wyoming , Colorado and Texas
+5	The dollar drew strength from the stock market 's climb	Long-term bond prices rose despite trepidation about what a key economic report will show today
+8	the offer for Great Northern Nekoosa broke the pall that settled over the takeover business for the past three weeks in the wake of the collapsed UAL Corp. buy-out	Great Northern Nekoosa soared $ 20.125 a share , to $ 62.875 , substantially above the $ 58 a share Georgia-Pacific is offering
+5	That indicates speculators are betting a higher offer is in the wings	Prices of other paper makers rose sharply
+8	Despite all the furor over program trading , program trading played a big role in yesterday 's rally	that as the big brokerage firms back out of program trading for their own accounts or for clients , opportunities increase for others to engage in the controversial practice
+2	Despite all the furor over program trading , program trading played a big role in yesterday 's rally	that as the big brokerage firms back out of program trading for their own accounts or for clients , opportunities increase for others to engage in the controversial practice
+5	that as the big brokerage firms back out of program trading for their own accounts or for clients , opportunities increase for others to engage in the controversial practice	That 's what happened yesterday
+8	The rally notwithstanding , there are plenty of worries about the short-term course of stock prices	A slowing economy and its effect on corporate earnings is the foremost concern of many traders and analysts
+2	A slowing economy and its effect on corporate earnings is the foremost concern of many traders and analysts	Unless the Federal Reserve eases interest rates soon to stimulate the economy , profits could remain disappointing
+5	A report late yesterday that the Chicago-area purchasing managers survey showed increased economic activity in that part of the country cut into bond-price gains	If the national survey confirms a pickup in the manufacturing sector , it could further depress bond prices while bolstering stock prices and the dollar
+8	Meanwhile , bond investors are laboring under the onus of a national debt ceiling debate	Although the Treasury is expected to announce details of its November quarterly refunding operation today , the Nov. 79 schedule could be delayed unless Congress and the president act soon to lift the nation 's debt ceiling
+8	Stock prices rallied in active trading	Volume on the New York Stock Exchange totaled 176.1 million shares
+5	Stock prices rallied in active trading.Volume on the New York Stock Exchange totaled 176.1 million shares	Advancing issues on the Big Board surged ahead of decliners 1,111 to
+6	Bond prices rose	The Treasury 's benchmark 30-year bond gained less than a quarter of a point , or less than $ 2.50 for each $ 1,000 of face amount
+5	The Treasury 's benchmark 30-year bond gained less than a quarter of a point , or less than $ 2.50 for each $ 1,000 of face amount	The yield on the issue slipped to 7.91 %
+8	The dollar gained against most foreign currencies	In late afternoon New York trading , the dollar was at 1.8415 marks and 142.85 yen compared with 1.8340 marks and 141.90 yen late Monday
+1	For all of 1988 , Bouygues had consolidated profit of 519 million francs , after payments to minority interests , on revenue of 50 billion francs	The group has forecast 1989 revenue of 56.9 billion francs
+1	it had a loss of $ 92.2 million , or $ 6.98 a share , for the quarter ended Sept. 30	Coast earned $ 10.2 million , or 67 cents a share , in the year-ago quarter
+8	The restructuring program is designed to increase the company 's tangible capital ratio	It includes removing $ 242 million in good will from the books , issuing $ 150 million in preferred stock and commencing an exchange offer for $ 52 million in convertible bonds
+8	During the third quarter , the company charged about $ 46 million against earnings in reducing goodwill , added $ 20 million to its general loan loss reserves and established a $ 30 million reserve for its high-yield bond portfolio	its junk-bond portfolio after these moves had been reduced to less than 1 % of assets
+2	The campaign , a patriotic celebration of the 200th anniversary of the Bill of Rights , does n't mention cigarettes or smoking	cigarette ads have been prohibited on television since 1971
+1	Philip Morris seems determined to evolve beyond its roots in Marlboro country	that its name recognition among most consumers remains unusually low , although its array of brands blanket supermarket shelves
+1	Philip Morris hopes that by taking its Bill of Rights theme to the airwaves , in addition to publications , it will reach the broadest possible audience	Until now , its corporate ads , mainly promoting its sponsorship of the arts , have appeared almost exclusively in newspapers and magazines
+2	Most people have n't got a clue who we are	If they think well of the company through our support of the Bill of Rights , it follows they 'll think well of our products
+1	If they think well of the company through our support of the Bill of Rights , it follows they 'll think well of our products	the Bill of Rights commercial , which trumpets the themes of liberty and freedom of expression , is n't designed to have any special appeal for smokers
+5	the Bill of Rights commercial , which trumpets the themes of liberty and freedom of expression , is n't designed to have any special appeal for smokers	Although Philip Morris typically tries to defend the rights of smokers with free-choice arguments , `` this has nothing to do with cigarettes , nor will it ever
+6	But some anti-smoking activists disagree , expressing anger at what they see as the company 's attempt to purchase innocence by association	I 'm outraged because this company is portraying itself at the heart of American culture and political freedom and in fact it 's a killer , '' says Michael Pertschuk , former chairman of the Federal Trade Commission and a tobacco-industry critic
+2	and in fact it 's a killer	It should be treated like the Medellin { drug } mafia , not the Founding Fathers
+5	and wooing blacks by portraying itself as a protector of civil rights	The commercial features , among others , the voice of Martin Luther King Jr. , the slain civil rights leader
+8	that the ads ' implied smoking message is unmistakable	This is clever , subliminal advertising that really says , ` Smokers have rights , too
+8	This is clever , subliminal advertising that really says , ` Smokers have rights , too	This is designed to get the wagons in a circle and defend the smoking franchise
+2	It 's very popular to drape yourself in the flag these days	If you can do that and at the same time send a message that supports your business , that 's brilliant
+2	Despite the criticism , Philip Morris 's corporate campaign runs little risk of getting yanked off the tube	They are n't showing James Madison taking a puff or lighting up
+8	Despite the criticism , Philip Morris 's corporate campaign runs little risk of getting yanked off the tube	They are n't showing James Madison taking a puff or lighting up
+1	They are n't showing James Madison taking a puff or lighting up	All they are trying to do is borrow some of the legitimacy of the Bill of Rights itself
+8	But the move lagged a stronger rise in New York Stock Exchange issues	The Big Board 's composite index was up more than 1.4 % , and the Dow Jones Industrial Average jumped 1.6 %
+6	Nasdaq 's gain was led by its biggest industrial stocks	The Nasdaq 100 rose 7.08 to 445.23
+5	The Nasdaq 100 rose 7.08 to 445.23	The Financial Index of 100 biggest banks and insurance issues added 2.19 to 447.76
+7	The Financial Index of 100 biggest banks and insurance issues added 2.19 to 447.76	Other strong sectors were indicated in gains of the Transportation Index , up 7.55 to 475.35 , and the Utility Index , up 8.68 to 730.37
+6	Many of Nasdaq 's biggest technology stocks were in the forefront of the rally	Microsoft added 2 1/8 to 81 3/4 and Oracle Systems rose 1 1/2 to 23 1/4
+7	Microsoft added 2 1/8 to 81 3/4 and Oracle Systems rose 1 1/2 to 23 1/4	Intel was up 1 3/8 to 33 3/4
+2	The technology group includes many of the OTC market 's biggest stocks	rallies in the group historically have lifted the market , while weakness in the sector often sank unlisted share prices broadly
+2	But increasing volatility in the sector has exhausted investors who try to follow its dips and swings	The stocks have been pummeled repeatedly by inventory gluts and disappointing earnings as the industry matures and slows
+5	The stocks have been pummeled repeatedly by inventory gluts and disappointing earnings as the industry matures and slows	Some even claim the group has become a lagging , not leading , indicator
+5	The technology sector of the Dow Jones Equity Market Index has risen only about 6.24 % this year , while the Nasdaq Composite Index has gained 18.35 %	While the composite index lost less than a third of its year-to-date gains in the market 's recent decline , the technology group 's gains were more than halved
+2	The OTC technology sector is far from a cohesive unit	The group is divided primarily between software , semiconductors and computers.While computer stocks have taken the biggest hit from the slowdown in the industry , many software and semiconductor stocks have continued to outperform the market
+6	many software and semiconductor stocks have continued to outperform the market	Microsoft is up more than 50 % this year , while Intel is up more than 40 %
+2	while the smaller stocks churn on their individual merits or faults	The volatility of smaller technology companies has served the group well overall in recent stock trading , according to Hambrecht & Quist 's technology stock indexes
+8	Yesterday , bank stocks lagged behind the overall OTC market	The Nasdaq Bank Index rose 0.17 to 432.78
+2	The interest-rate sensitives are n't rallying with the rest of the market because of fears about what the ( Federal Reserve ) will do	that investors will scour the October employment report , due out Friday , for clues about the direction of the economy and the immediate outlook for interest rates
+9	that it would no longer handle index-arbitrage-related program trades for its accounts	Shearson , with its in-house order execution system , has handled the bulk of such program trades in the over-the-counter market
+8	Gen-Probe was another active takeover stock	It surged 2 3/4 to 6 on volume of more than 1.7 million shares after the company agreed to be acquired by Japan 's Chugai Pharmaceutical for about $ 110 million -- almost double the market price of Gen-Probe 's stock
+2	MCI Communications added 1 1/2 to 43 3/8	The company has toted up over $ 40 million in contracts in the past two days
+8	The company has toted up over $ 40 million in contracts in the past two days	Monday , MCI announced a $ 27 million multiyear contract with the investment bank Stuart-James.Yesterday , it received a $ 15 million , three-year contract from Drexel Burnham Lambert
+7	Monday , MCI announced a $ 27 million multiyear contract with the investment bank Stuart-James	Yesterday , it received a $ 15 million , three-year contract from Drexel Burnham Lambert
+2	Florida National Banks of Fla. slid 1 1/8 to 24 3/4	it is delaying approval of First Union Corp. 's proposed $ 849 million acquisition of Florida National Banks pending the outcome of an examination into First Union 's lending practices in low-income heighborhoods
+0	it is delaying approval of First Union Corp. 's proposed $ 849 million acquisition of Florida National Banks pending the outcome of an examination into First Union 's lending practices in low-income heighborhoods	Florida National said yesterday that it remains committed to the merger
+8	But yesterday 's action put to rest any lingering resistance from tobacco interests	Faced with inevitable defeat , the once dominant industry declined any recorded vote on the ban
+5	But the bill still faces budget questions because it also is the vehicle for an estimated $ 3.1 billion in supplemental appropriations for law enforcement and anti-drug programs	The additional spending pushes the measure more than $ 2 billion above its prescribed budget ceiling
+5	but was saved ultimately by its importance to a broad spectrum of interests in Congress and the administration itself	No single bill this year includes more discretionary spending for domestic programs
+1	Separately , the bill gives authority to the Department of Housing and Urban Development to facilitate the refinancing of high-interest loans subsidized by the government under the so-called Section 235 home-ownership program for lower-income families	This provision met early and strong resistance from investment bankers worried about disruptions in their clients ' portfolios
+2	The estimated $ 1.8 billion for the space station would be double last year 's level , and total appropriations for the National Aeronautics and Space Administration would grow 16 % to nearly $ 12.4 billion	A string of costly projects , including the high-speed national aerospace plane and the advanced communications technology satellite , would continue to be developed within these limits
+6	Senior members of the House Budget Committee are reduced in frustration to raising doomed parliamentary obstacles to individual bills , yet admit that much of the disorder now stems from the fiscal legerdemain associated with their own summit agreement with the White House this past spring	It 's hard to get the administration 's attention on anything , '' said Rep. Bill Frenzel ( R. , Minn. ) , `` because the whole agreement was built on gimmickry
+2	Among the subsidies continued in the transportation bill is $ 30.7 million to maintain commercial air service for an estimated 92 communities , often in rural areas	Senate Appropriations Committee Chairman Robert Byrd ( D. , W.Va. ) strongly resisted deeper cuts sought by the House
+8	as the Senate remained mired in difficulties over a $ 17.25 billion measure covering the budgets for the State , Commerce , and Justice departments in fiscal 1990	The compromise bill passed the House last week but has now provoked jurisdictional fights with the Senate Foreign Relations Committee , which jealously protects its prerogatives over operations at the State Department
+6	The same jealousy can breed confusion , however , in the absence of any authorization bill this year	House and Senate appropriators sought to establish a Nov. 30 deadline after which their bill would become the last word on how funds are distributed.But on a 53-45 roll call this provision was stripped from the bill last night after Foreign Relations Chairman Claiborne Pell ( D. , R.I. ) complained that it was an intrusion on exclusive powers vested in his panel for more than three decades
+7	that $ 10 million of the facility would be used to consolidate the company 's $ 8.1 million of existing bank debt , to repurchase 4 million of its 4.9 million shares outstanding of Series D convertible preferred stock , and to purchase a 10 % net-profits interest in certain oil and gas properties from one of its existing lenders , National Canada Corp	The remaining $ 40 million can be used over three years for oil and gas acquisitions
+5	Ted Eubank , Coda 's president , said the loan carries an interest rate of prime plus one percentage point , with 85 % of the company 's net oil and gas revenue each month dedicated to repayment	The company put up `` virtually all '' of its oil and gas properties as collateral , he said
+6	Since the value of its assets was n't known , analysts were free to pick a number	In one of many rosy scenarios , Bear Stearns 's Gary Schneider wrote in March that its real estate alone had a value of $ 4.5 billion
+2	that its real estate alone had a value of $ 4.5 billion	Throw in its railroad , minerals , pipeline and oil assets and the Chicago-based conglomerate should be worth 30 a share
+8	That was another reason the Street loved Santa Fe	With real estate experts Olympia & York and Samuel Zell 's Itel owning close to 40 % of Santa Fe 's stock , management was under pressure -- in a favored phrase of Wall Street -- to quickly `` maximize values
+1	that it is negotiating to sell a 20 % interest in its real estate unit to the California Public Employees Retirement System for roughly $ 400 million	Since the real estate unit also includes debt , the imputed value of the real estate itself is close to $ 3 billion
+2	The implied current net asset value of 22.70 { per share } is well below the 30 level that the Street believed	The upside was in the intangible real estate . . . which is no longer an intangible
+1	If the railroad is valued on a private market basis it would have a value of $ 1.65 billion	A compromise between bulls and bears puts remaining assets and cash at $ 2 billion
+5	If the railroad is valued on a private market basis it would have a value of $ 1.65 billion	A compromise between bulls and bears puts remaining assets and cash at $ 2 billion
+2	But it is n't clear why that should be so	The spinoff argument , after all , reverses the current notion that assets are worth more to private buyers than to public shareholders
+6	Some analysts remain bullish	he is recalculating the worth of the company 's assets and , in the meantime , is sticking to his `` buy '' recommendation on the belief that he will find `` values '' of 30 a share
+1	and , in the meantime , is sticking to his `` buy '' recommendation on the belief that he will find `` values '' of 30 a share	If for any reason I do n't have the values , then I wo n't recommend it
+1	First Boston 's Graeme Anne Lidgerwood values Santa Fe at 24 , down from her earlier estimate of 29	Her recent report classifies the stock as a `` hold
+5	In other words : The real estate has a higher value than the pending deal suggests	Since most of the unit 's real estate is in California , the pension fund will be a useful political ally in a state where development is often held hostage to zoning boards
+9	it would fund the acquisition through internal resources	The takeover would be followed by a restructuring of Orkem 's U.K. unit , including the addition of related Orkem businesses and possibly further acquisitions
+9	The takeover would be followed by a restructuring of Orkem 's U.K. unit , including the addition of related Orkem businesses and possibly further acquisitions	it eventually would seek to make a public share offering in its U.K. business
+1	Mr. Edelman said the decision `` has nothing to do with Marty Ackerman	Mr. Ackerman contended that it was a direct response to his efforts to gain control of Datapoint
+5	Profit after tax and minority interest but before extraordinary items rose 12 % to # 135.2 million	per-share earnings rose to five pence from 4.5 pence
+5	Operating profit dropped 35 % , however , to # 3.8 million	Brooks Brothers , which Marks bought last year , saw operating profit drop in half to # 5 million
+8	to provide a luxurious life style for its owners	Lincoln 's principal owner , Charles Keating Jr. , and his family drew off at least $ 34 million from the thrift in salaries , bonuses and proceeds from securities sales in the 3 1/2 years before federal authorities seized it earlier this year
+8	there 's overwhelming evidence to indicate probable criminal activity	the evidence pointed to wrongdoing by Mr. Keating `` and others , '' although he did n't allege any specific violation
+8	he also saw evidence that crimes had been committed	It sure smells like it
+2	It sure smells like it	30 % of the loans he sampled were `` dead meat on the day they were made
+1	Those who testified { yesterday } have consistently maintained that anyone who did n't agree with them is part of a coverup , a whitewash , or the subject of excessive influence	We simply do n't agree with that or the findings of their investigation
+6	A couple of things Mr. Newsom said were at least misleading	federal regulators eventually declared one of the loans the state regulator cited to be a total loss , and forced Lincoln to make an $ 18 million downward adjustment on another
+8	Our response to the whitewash would simply be , look what happened	Federal officials seized the association in April , a day after the parent corporation entered bankruptcy-law proceedings
+8	that regulators waited far too long , however , ignoring a recommendation from regional officials to place Lincoln into receivership two years before it failed	He took the reckless course of ignoring the evidence
+5	that a day or two before Lincoln 's parent entered bankruptcy proceedings , he and other examiners saw `` a truck with a sign on it that said it was from the ` Document Destruction Center	We observed at least two large plastic bags of shredded paper loaded into this truck
+5	Mr. Meek said his suspicions were aroused by several foreign investments by Lincoln , including $ 22 million paid to Credit Suisse of Switzerland , an $ 18 million interest in Saudi European Bank in Paris , a $ 17.5 million investment in a Bahamas trading company , and a recently discovered holding in a Panama-based company , Southbrook Holdings	Mr. Bickwit said , `` I can see why an S & L examiner would regard these as unusual activities , '' but said the overseas investments `` essentially broke even '' for the S & L
+0	Mr. Meek said his suspicions were aroused by several foreign investments by Lincoln , including $ 22 million paid to Credit Suisse of Switzerland , an $ 18 million interest in Saudi European Bank in Paris , a $ 17.5 million investment in a Bahamas trading company , and a recently discovered holding in a Panama-based company , Southbrook Holdings	Mr. Bickwit said , `` I can see why an S & L examiner would regard these as unusual activities , '' but said the overseas investments `` essentially broke even '' for the S & L
+1	The big questions are whether the increase , effective Jan. 1 , 1990 , will stick , and whether other major steelmakers will follow suit	It is widely expected that they will
+1	Major steel producers are selling cold rolled sheet steel at about $ 370 a ton , compared with a peak price of $ 520 a ton in 1988	Second-tier companies are receiving even less per ton
+8	the move is designed to more accurately reflect the value of products and to put steel on more equal footing with other commodities	that steel prices , adjusted for inflation , increased only 1.7 % between 1981 and the fourth quarter of 1988 , while the prices of other industrial commodities increased nearly five times as much
+2	that LTV may be trying to send a signal to major customers , such as Chrysler Corp. and Whirlpool Corp. , that steelmakers need more money	Both companies are in the process of negotiating contracts with LTV and others
+1	They { LTV } may believe this can impact contract negotiations and is their signal to the world that now is the time to get tough on prices	Mr. Marcus believes spot steel prices will continue to fall through early 1990 and then reverse themselves
+2	It wo n't be clear for months whether the price increase will stick	Steelmakers announced a round of base-price increases last year , but began offering sizable discounts over the summer
+8	It wo n't be clear for months whether the price increase will stick	Steelmakers announced a round of base-price increases last year , but began offering sizable discounts over the summer
+9	Penney decided to extend its involvement with the service for at least five years	If , by that time , the network reaches 14 million homes , the contract will be renewed for five more years
+2	Earlier this year , Penney abandoned another home shopping venture , Telaction Corp. , after investing $ 106 million in it	The company took a $ 20 million charge in the fiscal first quarter ended April 29 , related to discontinuing the service
+9	In 1953 , James Watson and his colleagues unlocked the double helix of DNA ( deoxyribonucleic acid ) , the genetic key to heredity	Twenty years later , two California academics , Stanley Cohen and Herbert Boyer , made `` recombinant '' DNA , transplanting a toad 's gene into bacteria , which then reproduced toad genes
+2	When Boyer met Robert Swanson , an M.I.T.-trained chemist-turned-entrepreneur in 1976 , they saw dollar signs	With $ 500 apiece and an injection of outside capital , they formed Genentech Inc
+10	With $ 500 apiece and an injection of outside capital , they formed Genentech Inc	Commercial gene-splicing was born
+2	With $ 500 apiece and an injection of outside capital , they formed Genentech Inc	Commercial gene-splicing was born
+6	Gene-splicing now is an integral part of the drug business	Genentech 's 1988 sales were $ 335 million , both from licensing and its own products
+5	In addition to Unocal 's 153,000 barrel-a-day refinery near Lemont , Ill. , the new venture would control 17 distribution terminals , a lubricating-oil blending and packaging plant , and 131 company-owned Unocal service stations	the venture , expected to take control of the facilities Dec. 1 , would also serve another 3,300 independent Unocal gasoline stations
+1	Democrats want to avoid having to make that choice by making the capital-gains tax cut an individual bill	Sen. Mitchell is confident he has sufficient votes to block such a measure with procedural actions
+2	Both plans would drop child-care provisions from the House version of the deficit-reduction legislation and let it progress as a separate bill	While that could make it vulnerable to a veto by Mr. Bush that a presidential rejection would give their party a valuable issue in next year 's congressional elections
+2	Yesterday , Mr. Dole seemed weary of the Bush administration 's strategy of pushing the capital-gains measure at every chance in the face of Democratic procedural hurdles	Pushing the issue on legislation needed to avoid default by the federal government does n't seem to be very good strategy to me
+2	At 12:01 a.m. EST today , the federal government 's temporary $ 2.87 trillion debt limit expired	To avoid default , lawmakers must pass legislation raising the limit to $ 3.12 trillion from $ 2.80 trillion by next Wednesday , according to the Treasury
+8	Aside from the takeover news , big buy orders were placed for blue-chip shares in afternoon trading	the buy programs came from very large institutional accounts that were also active in the stock-index futures markets
+2	the buy programs came from very large institutional accounts that were also active in the stock-index futures markets	At one point , almost all of the shares in the 20-stock Major Market Index , which mimics the industrial average , were sharply higher
+6	while broader market averages rose sharply	Standard & Poor 's 500-Stock Index climbed 5.29 to 340.36 , the Dow Jones Equity Market Index added 4.70 to 318.79 and the New York Stock Exchange Composite Index climbed 2.65 to
+5	Great Northern surged 20 1/8 to 62 7/8 , well above Georgia-Pacific 's offering price of $ 58 a share , amid speculation that other suitors for the company would surface or that the bid would be raised	Nearly 6.3 million shares , or about 11.5 % of the company 's shares outstanding , changed hands in Big Board composite trading
+2	the market 's surge also reflected an easing of concerns about volatility because of moves by a number of brokerage firms to curtail or cease stock-index arbitrage	Much of the instability in stock prices lately has been blamed on arbitrage trading
+6	which posted solid gains in the latest session	Pfizer gained 1 7/8 to 67 5/8 , Schering-Plough added 2 1/4 to 75 3/4 , Eli Lilly rose 1 3/8 to 62 1/8 and Upjohn firmed 3/4 to 38
+2	Also , SmithKline Beecham rose 1 3/8 to 39 1/2	An advisory committee of the Food and Drug Administration recommended that the agency approve Eminase , the company 's heart drug
+5	Pennzoil is rumored to be accumulating a stake in Chevron in order to push for a revamping of the company	investor Carl Icahn has recently increased his stake in USX , which separately reported earnings that were in line with expectations
+10	Pennzoil is rumored to be accumulating a stake in Chevron in order to push for a revamping of the company	investor Carl Icahn has recently increased his stake in USX , which separately reported earnings that were in line with expectations
+5	BankAmerica climbed 1 3/4 to 30 after PaineWebber boosted its investment opinion on the stock to its highest rating	The upgrade reflected the 20 % decline in shares of the bank since the firm lowered its rating in early October , based on the belief the stock had become expensive
+2	Sea Containers , which unveiled a proposed restructuring , advanced 1 to 62	it would repurchase half of its common shares at $ 70 each , sell an estimated $ 1.1 billion in assets and pay a special preferred-stock dividend to common-stock holders
+9	Sea Containers , which unveiled a proposed restructuring , advanced 1 to 62	it would repurchase half of its common shares at $ 70 each , sell an estimated $ 1.1 billion in assets and pay a special preferred-stock dividend to common-stock holders
+10	Shaw Industries , which agreed to acquire Armstrong World Industries ' carpet operations for an undisclosed price , rose 2 1/4 to 26 1/8	Armstrong added 1/8 to 39 1/8
+5	Shaw Industries , which agreed to acquire Armstrong World Industries ' carpet operations for an undisclosed price , rose 2 1/4 to 26 1/8	Armstrong added 1/8 to 39 1/8
+2	ERC Corp. rose 7/8 to 12	The company agreed definitively to be acquired by Ogden Corp. in a stock swap valued at about $ 82.5 million
+5	Imperial Holly fell 1 5/8 to 27 1/8 in the wake of its third-quarter earnings report	Net income was down from a year ago , when a gain from the restructuring of a retirement plan boosted earnigs
+5	Cilcorp will also assume $ 22 million of Hunter 's existing debt	it will pay Hunter $ 4 million in exchange for agreements not to compete
+5	that neither he nor Gorbachev expected any `` substantial decisions or agreements	The seaborne meetings wo n't disrupt plans for a formal summit next spring or summer , at which an arms-control treaty is likely to be completed
+8	Israel 's army lifted a blockade around a Palestinian town in the occupied West Bank , ending a 42-day campaign of seizing cars , furniture and other goods to crush a tax boycott	While residents claimed a victory , military authorities said they had confiscated the equivalent of more than $ 1.5 million to make up for the unpaid taxes
+5	East German leader Krenz arrived in Moscow for talks today with Gorbachev on restructuring proposals	In East Berlin , Communist Party officials considered legalizing New Forum , the country 's largest opposition alliance , as about 20,000 demonstrators staged protests in three cities to press demands for democratic freedoms
+10	East German leader Krenz arrived in Moscow for talks today with Gorbachev on restructuring proposals	In East Berlin , Communist Party officials considered legalizing New Forum , the country 's largest opposition alliance , as about 20,000 demonstrators staged protests in three cities to press demands for democratic freedoms
+5	Nicaragua 's Ortega postponed until today a decision on whether to end a 19-month-old cease-fire in the conflict with the Contra rebels	In Washington , the Senate voted to condemn Ortega 's threat to cancel the truce , and Bush said he would review U.S. policy toward Managua , including the possibility of renewing military aid to the rebels
+1	Turkey 's legislature elected Prime Minister Ozal as the country 's first civilian president since 1960 , opening the way for a change of government under a new premier he will select	The vote in Ankara was boycotted by opposition politicians , who vowed to oust Ozal
+8	they have developed a genetic engineering technique for creating hybrid plants for a number of crops , such as cotton , soybeans and rice	The scientists at Plant Genetic Systems N.V. isolated a gene that could lead to a generation of plants possessing a high-production trait
+2	Hungary 's Parliament voted to hold a national referendum on an election to fill the new post of president	The balloting to decide when and how to fill the position , which replaces a collective presidency under a pact signed by the ruling Socialists and opposition groups , is to be held Nov
+1	Ogden Projects , whose shares began trading on the New York Stock Exchange in August , closed yesterday at $ 26.875 , down 75 cents	The stock began trading this summer at $ 14 apiece
+5	Meanwhile , Ogden Corp. , which also has interests in building maintenance and management , reported third-quarter net income of $ 27.1 million , or 67 cents a share , more than twice the $ 13.5 million , or 34 cents a share , a year earlier	Revenue rose 33 % to $ 378.1 million from $ 283.8 million
+5	Mr. Phelan has been viewed by many exchange members as being indifferent to stock-price swings caused by program trades	He said he is `` very surprised '' by the furor over program trading and the exchange 's role in it that has raged in recent days
+1	Big Board officials have been under seige from both investors and the exchange 's own floor traders since the Dow Jones Industrial Average 's 190-point tumble on Oct. 13	Mr. Phelan has n't been making public remarks in recent days
+0	Early last year , after a 140-point , one-day drop in the Dow , the Big Board instituted the collar , which banned program trading through the Big Board 's computers whenever the Dow moved 50 points up or down in a day	It did n't work
+2	The collar was penetrated on a number of occasions , '' meaning securities firms figured out ways to conduct program trades to circumvent the collar and use the Big Board 's electronic trading system	That was when the exchange took a new tack by publishing monthly statistics listing the top 15 program trading firms
+6	that the Big Board is considering a variety of actions to deal with program trading	another idea likely to be approved is expanding the monthly reports on program trading to cover specific days or even hours of heavy program trading and who was doing it
+8	Meanwhile , another big Wall Street brokerage firm joined others that have been pulling back from program trading	it ceased all index-arbitrage program trading for client accounts
+2	that his predicting continued volatility is just `` how the world is	If bringing the message is a crime , I 'm guilty of it
+6	For example , in a special meeting Monday with Mr. Phelan , senior officials of some of the Big Board 's 49 stock specialist firms complained that the exchange is no longer representing their interests	We are looking for representation we have n't had , '' a specialist said
+4	We are looking for representation we have n't had	We 've had dictation
+5	especially as the exchange clearly relishes its role as the home for $ 200 billion in stock-index funds , which buy huge baskets of stocks to mimic popular stock-market indexes like the Standard & Poor 's 500 , and which sometimes employ program trading	The Big Board wants to keep such index funds from fleeing to overseas markets , but only as long as it `` handles it intelligently
+1	Despite what some investors are suggesting , the Big Board is n't even considering a total ban on program trading or stock futures	Most revisions it will propose will be geared toward slowing down program trading during stressful periods
+2	Most revisions it will propose will be geared toward slowing down program trading during stressful periods	Computers have made trading more rapid , but that can be fixed with some fine-tuning
+8	Computers have made trading more rapid , but that can be fixed with some fine-tuning	if you { can } speed things up , you can slow them down
+8	Volatility is greater than program trading	it 's proper to worry about program trading , but it 's only a piece of the business
+2	that big institutions have so much control over public investments that they can cause big swings in the market , regardless of index arbitrage	A lot of people would like to go back to 1970 , '' before program trading
+6	A lot of people would like to go back to 1970 , '' before program trading	I would like to go back to 1970
+2	that if stock-market volatility persists , the U.S. may lose its edge as being the best place to raise capital	Japan 's markets are more stable
+8	that if stock-market volatility persists , the U.S. may lose its edge as being the best place to raise capital	Japan 's markets are more stable
+2	Japan 's markets are more stable	If that continues , a significant number of { U.S. } companies will go over there to raise money
+2	This is a problem that 's taking on a life of its own	The program trading situation seems to have driven individual investors as well as others out of the market , and even Europeans are suspicious
+2	The program trading situation seems to have driven individual investors as well as others out of the market , and even Europeans are suspicious	The exchange should take a pro-active position
+2	I refuse to get out there and tell everybody everything is hunky-dory	We have a major problem , and that problem is volatility
+8	A NEW MINIMUM-WAGE PLAN has been worked out by Congress and Bush , opening the way for the first increase in over nine years	The compromise proposal , ending a long impasse between Democrats and the president , would boost the minimum wage to $ 4.25 an hour by April 1991 from $ 3.35 now
+2	The Big Board is considering reviving a curb on program trading when the market is volatile	The exchange , which abandoned such a `` collar '' last year because it did n't prevent sharp price swings , has been under attack recently for not taking action against program trading
+6	Stock prices rallied as the Georgia-Pacific bid broke the market 's recent gloom	The Dow Jones industrials finished up 41.60 , at 2645.08
+5	Labor costs climbed 1.2 % in private industry during the third quarter , matching the second-quarter rise	Health-insurance costs soared
+2	Sea Containers plans to sell $ 1.1 billion of assets and use some of the proceeds to buy about 50 % of its common shares for $ 70 each	The company is trying to fend off a hostile bid by two European shipping firms
+5	We saw good buying in Japan and excellent buying in London , '' said Jay Goldinger , market strategist and trader at Capital Insight Inc. , Beverly Hills , Calif	The market 's tempo was helped by the dollar 's resiliency , he said
+1	Late in London , the dollar was quoted at 1.8410 West German marks and 142.70 Japanese yen , up from late Monday in New York	British sterling eased to $ 1.5775 from $ 1.5825
+8	When U.S. trading began , Treasury bonds received an additional boost from news that sales of new single-family homes fell 14 % in September	The contraction was twice as large as economists projected and was the sharpest decline since a 19 % drop in January 1982
+8	But later in the day , a report by the Purchasing Management Association of Chicago cast doubt on the recession scenario	The association said its October index of economic activity rose to 51.6 % after having been below 50 % for three consecutive months
+6	By the end of the day , bond prices were mixed	The benchmark 30-year bond was nearly 1/4 point higher , or up about $ 2.50 for each $ 1,000 face amount
+1	The benchmark 30-year bond was nearly 1/4 point higher , or up about $ 2.50 for each $ 1,000 face amount	New two-year notes ended unchanged while three-year and four-year notes were slightly lower
+7	The benchmark 30-year bond was nearly 1/4 point higher , or up about $ 2.50 for each $ 1,000 face amount	New two-year notes ended unchanged while three-year and four-year notes were slightly lower
+7	New two-year notes ended unchanged while three-year and four-year notes were slightly lower	Municipal bonds ended unchanged to as much as 1/2 point higher while mortgage-backed securities were up about 1/8 point
+1	New two-year notes ended unchanged while three-year and four-year notes were slightly lower	Municipal bonds ended unchanged to as much as 1/2 point higher while mortgage-backed securities were up about 1/8 point
+7	The benchmark 30-year bond was nearly 1/4 point higher , or up about $ 2.50 for each $ 1,000 face amount.New two-year notes ended unchanged while three-year and four-year notes were slightly lower.Municipal bonds ended unchanged to as much as 1/2 point higher while mortgage-backed securities were up about 1/8 point	Corporate bonds were unchanged
+1	The benchmark 30-year bond was nearly 1/4 point higher , or up about $ 2.50 for each $ 1,000 face amount.New two-year notes ended unchanged while three-year and four-year notes were slightly lower.Municipal bonds ended unchanged to as much as 1/2 point higher while mortgage-backed securities were up about 1/8 point	Corporate bonds were unchanged
+2	IBM 's visits to the debt market are closely watched by treasurers at other corporations and by credit market analysts	Some analysts believe the company has the ability to pinpoint the trough in interest-rate cycles
+5	IBM might increase the size of the offering to as much as $ 1 billion if investor demand is strong	The company has $ 1 billion in debt filed with the Securities and Exchange Commission
+8	the $ 500 million is a little bit of a fire drill	as the pricing time arrives , the bonds will come a little richer and in a larger amount
+7	The benchmark 30-year bond was quoted late at 102 12/32 to yield 7.90 % compared with 102 7/32 to yield 7.92 % Monday	The latest 10-year notes were unchanged at 100 16/32 to yield 7.904 %
+8	Short-term rates also were mixed	The discount rate on three-month Treasury bills rose slightly from the average rate at Monday 's auction to 7.79 % for a bond-equivalent yield of 8.04 % .The discount rate on six-month Treasury bills fell slightly to 7.60 % for a bond-equivalent yield of 7.99 %
+1	The discount rate on three-month Treasury bills rose slightly from the average rate at Monday 's auction to 7.79 % for a bond-equivalent yield of 8.04 %	The discount rate on six-month Treasury bills fell slightly to 7.60 % for a bond-equivalent yield of 7.99 %
+7	The discount rate on three-month Treasury bills rose slightly from the average rate at Monday 's auction to 7.79 % for a bond-equivalent yield of 8.04 %	The discount rate on six-month Treasury bills fell slightly to 7.60 % for a bond-equivalent yield of 7.99 %
+7	Freddie Mac 's 9 1/2 % issue was quoted at 99 20/32 , up 3/32 from Monday	Fannie Mae 's 9 % issue was at 98 7/32 , up 1/8
+1	Freddie Mac 's 9 1/2 % issue was quoted at 99 20/32 , up 3/32 from Monday	Fannie Mae 's 9 % issue was at 98 7/32 , up 1/8
+2	We were oversold and today we bounced back	Some accounts came in for some blocks in the secondary { market } , which we have n't seen for a while
+8	There were no { sell } lists and the calendar is lightening up a bit	There 's light at the end of the tunnel for municipals
+2	The market 's tone improved after Monday 's pricing of $ 813 million New York City general obligation bonds	The issue 's smooth absorption eased fears that supply would overwhelm demand in coming sessions
+5	The issue 's smooth absorption eased fears that supply would overwhelm demand in coming sessions	Demand for the bonds was strong enough to permit underwriters to trim some yields in the tax-exempt portion of the offering late Monday
+5	His comments were interpreted as a sign that higher interest rates are possible	On Oct. 5 , the Bundesbank raised the Lombard and discount rates by one percentage point to 8 % and 6 % , respectively , the highest levels in seven years
+1	Germany 's 7 % bond due October 1999 was unchanged at 99.35 to yield 7.09 % while the 6 3/4 % notes due July 1994 rose 0.025 point to 97.275 to yield 7.445 %	Japanese government bonds showed little change
+8	British government bonds were little changed as investors awaited an address on economic policy by John Major , the new Chancellor of the Exchequer	Britain 's benchmark 11 3/4 % bond due 2003/2007 rose 2/32 to 111 1/2 to yield 10.14 % while the 11 3/4 % notes due 1991 were unchanged at 98 21/32 to yield 12.95 %
+1	The Financial Accounting Foundation voted 12-2 that FASB accounting rules supercede GASB rules in regard to utilities , hospitals , and colleges and universities owned by the government	GASB rules still apply for other government units
+0	According to Avery , for the year ended Sept. 30 , 1988 , Uniroyal Chemical had sales of $ 734.2 million and a net loss of $ 47.1 million	that the loss was magnified by accounting adjustments and that the company 's loss was smaller on a cash basis
+8	In a related development it completed a recapitalization in which its controlling shareholders and top officers , Nelson Peltz and Peter W. May , surrendered warrants and preferred stock in exchange for a larger stake in Avery 's common shares	On a fully diluted basis , the two raised their stake to 68 % from 51 %
+1	In January 1989 , the two men acquired the non-packaging assets of Triangle , including a controlling stake in Avery and , by extension , Uniroyal Chemical	that unless it sold Uniroyal , its ability to service debt would be hurt and Avery 's shareholder value would `` continue to erode
+5	In the August proxy material , Avery said that unless it sold Uniroyal , its ability to service debt would be hurt and Avery 's shareholder value would `` continue to erode	Until Avery makes an acquisition , Messrs.Peltz and May will waive their direct salaries and bonuses , the company said
+5	News of the bid drew sharp criticism from other computer companies and industry observers	Fujitsu itself , which said the bid had n't been approved by its headquarters , was clearly embarrassed
+2	Fujitsu itself , which said the bid had n't been approved by its headquarters , was clearly embarrassed	The bid was n't `` socially acceptable
+4	they still consider the contract in effect and had no immediate plans to cancel it	they wanted to wait for the outcome of any government investigation before deciding what to do
+1	it did n't use `` the misleading expression ` reduced from original prices	the company marked price tags and advertised at its `` lowest possible prices '' for all its merchandise to reduce public confusion
+8	Those two groups have recently been leading the list of stocks setting new highs	On Friday , when only a dozen common stocks hit 52-week highs on the New York Stock Exchange , five were gold-mining issues , and another four were utilities
+5	On Friday , when only a dozen common stocks hit 52-week highs on the New York Stock Exchange , five were gold-mining issues , and another four were utilities	On Monday , when a mere seven common stocks managed new highs , six were utilities or golds
+2	At first glance , gold and utilities seem strange bedfellows	After all , gold prices usually soar when inflation is high
+2	But the two groups have something very important in common : They are both havens for scared money , stocks for people who hate stocks	It 's as if investors , the past few days , are betting that something is going to go wrong -- even if they do n't know what
+2	Still , a lot of investors clearly have revived their interest in gold and utility shares	The primary overriding thing is that people are frightened
+2	that people are frightened	The aftershocks of Oct. 13 ( when the Dow Jones Industrial Average dropped 190 points ) are still reverberating
+8	Beyond that , money managers and analysts see other problems	Inventories are creeping up ; car inventories are already high , and big auto makers are idling plants.Takeover fever has cooled , removing a major horse from the market 's cart
+5	Inventories are creeping up	car inventories are already high , and big auto makers are idling plants
+5	Inventories are creeping up ; car inventories are already high , and big auto makers are idling plants	Takeover fever has cooled , removing a major horse from the market 's cart
+2	Britain 's unsettled political scene also worries some investors	The gyrations in the British government '' add political uncertainty on top of high inflation and a ragged stock market
+8	The gyrations in the British government '' add political uncertainty on top of high inflation and a ragged stock market	One of the three major markets in the world is getting chewed up pretty bad
+2	Utilities are a classic example	Even in recessions , people continue to use electric power , water and gas at a fairly steady rate
+2	Mr. Wachtel points to Coca-Cola Co. and PepsiCo Inc. as examples	They 're selling for 18 to 22 times estimated 1990 per-share earnings
+5	Gold stocks are n't cheap on this basis , either , with many selling for 20 times earnings or more	Even utility stocks are n't all that inexpensive , at an average of 14 times earnings
+2	But the two groups represent a further step in defensiveness	If gold stocks and utilities continue to lead , it may signal that the market is in for rough times
+8	That 's just what Joseph Granville expects	We are going to explode lower
+2	We are going to explode lower	Anyone telling you to buy stocks in this market is technically irresponsible
+5	Anyone telling you to buy stocks in this market is technically irresponsible	You do n't want to own anything long except gold stocks
+6	One reason for his gloom is a weekly tally he keeps of stocks within a point of hitting new highs or lows	Last Friday , 96 stocks on the Big Board hit new 12-month lows
+2	Robert Stovall , a veteran New York money manager and president of Stovall/ Twenty-First Securities , has money in both gold and utility issues	we could very well have { an economic } slowdown , beginning very soon if not already
+8	In such a climate , utility stocks look good to him	He favors FPL Group Inc. , Florida Progress Corp. , TECO Energy Inc. , Wisconsin Energy Corp. , and Dominion Resources Inc
+8	The appeal of gold issues is that `` they 're a counter group	You go into them because they move counter to the general market
+5	You go into them because they move counter to the general market	that gold stocks had been down so long they were `` ready for a bounce
+2	that `` you do n't buy { gold stocks } based on powerful fundamentals	In addition to having high price-earnings ratios , most pay puny dividends , if any
+8	In addition to having high price-earnings ratios , most pay puny dividends , if any	The earning power { of gold mining companies } is restricted unless the gold price hops up over $ 425 an ounce
+2	it makes sense to have some money in both utilities and gold	My outlook is for a decline of about 10 % in corporate profits '' in 1990
+8	But `` a bunch of utilities '' should post profit increases	Among utilities , Drexel currently favors Entergy Corp. and General Public Utilities Corp
+8	It never ceases to amaze me how the business world continues to trivialize the world 's environmental problems ( `` Is Science , or Private Gain , Driving Ozone Policy ? '' by George Melloan , Business World , Oct. 24 )	To suggest that a 10 % drop in ozone by the middle of the next century would be negligible is irresponsible and shortsighted
+2	To suggest that a 10 % drop in ozone by the middle of the next century would be negligible is irresponsible and shortsighted	that a mere 2 % drop in ozone would increase birth defects and mutations by allowing solar radiation to alter the DNA structure
+2	that a mere 2 % drop in ozone would increase birth defects and mutations by allowing solar radiation to alter the DNA structure	Even a small reduction is unacceptable and to suggest otherwise is penny-wise and pound-foolish
+8	The reason environmentalists `` do n't mind seeing new crises arise '' is because there are new crises	Crises larger and more dangerous to the quality of life than they were 10 years ago
+6	Crises larger and more dangerous to the quality of life than they were 10 years ago	that the Pomton Lakes Reservoirs in northern New Jersey , which supply the tristate area with drinking water , are riddled with toxic PCBs
+8	that the Pomton Lakes Reservoirs in northern New Jersey , which supply the tristate area with drinking water , are riddled with toxic PCBs	This is a fact and not the product of some environmental doomsayer or a group 's ploy to create a market
+2	Mr. Melloan 's column was right on the money , but I wish it could have gone one step further	As an employee of a major refrigerator and freezer manufacturer , I have been heavily involved in dealing with the political manifestations of the Rowland-Molina theory ( named after the researchers who found in 1974 that chlorofluorocarbons contributed to the depletion of ozone in the earth 's atmosphere ) and the Montreal Protocol
+5	that he knew of no recent changes in the trend	that there are studies by Norwegians , Russians and the Max Planck Institute that show either unchanging or declining UV-B at the surface
+1	This , in turn , threatens the massive vested interests of which you have written	My questions on this subject at a recent meeting at the World Resources Institute with representatives of the National Resource Development Commission , the Environmental Protection Agency , Friends of the Earth , etc . were greeted with derision and some mumbled comments about that report being discredited
+9	My questions on this subject at a recent meeting at the World Resources Institute with representatives of the National Resource Development Commission , the Environmental Protection Agency , Friends of the Earth , etc . were greeted with derision and some mumbled comments about that report being discredited	When I expressed amazement that no one was undertaking a more current and credible UV-B study , I was urged to get back to the agenda topic , which was , ironically , a schedule for getting rid of HCFCs , the so-called soft CFCs that are such an important part of the CFC substitution scenario
+5	But this is almost an underground activity	To my knowledge , no government entities , including the EPA , are pursuing UV-B measurements
+5	To my knowledge , no government entities , including the EPA , are pursuing UV-B measurements	The topic never comes up in ozonedepletion `` establishment '' meetings , of which I have attended many
+2	that such measurements are a vital part of any intellectually honest evaluation of the threat posed by CFCs	While recognizing that professional environmentalists may feel threatened , I intend to urge that UV-B be monitored whenever I can
+2	Although , like all scientific theories , it had its initial opponents , few experts question the connection now	The discovery of the ozone `` hole '' over Antarctica and the results of ground-based and high-altitude aircraft experiments conducted over the past several years serve as evidence that ozone depletion is related to CFC concentrations
+1	In the September issue of Scientific American , Thomas E. Graedel , distinguished member of the technical staff at AT & T Bell Laboratories , and Paul J. Crutzen , director of the air chemistry division of the Max Planck Institute for Chemistry in Mainz , West Germany , wrote , `` It is now quite evident that chlorofluorocarbons , particularly CFC-11 and CFC-12 are the major culprits responsible for ozone depletion	Mr. Melloan quotes Peter Teagan and invokes the name of Arthur D. Little Inc. to support his statement
+8	However , unlike Messrs.Graedel and Crutzen , who are both pioneers in the study of atmospheric chemistry , Mr. Teagan has no special expertise in the area	He is a mechanical engineer , not an atmospheric chemist
+0	MiniScribe also has n't filed any financial statements for 1989	such statements should be ready by the end of November
+5	Mr. Rifenburgh said such statements should be ready by the end of November	He said he expects the company to have $ 500 million in sales for this year
+1	He said he expects the company to have $ 500 million in sales for this year	He did n't say what the company expected to report for year-earlier sales , which will be restated from the previously reported $ 603 million
+8	on which it is pinning much of its hope for survival	it is the first with an 80-megabyte drive
+5	it is the first with an 80-megabyte drive	the company plans to introduce a 120-megabyte drive next year
+2	but questioning whether the company can survive in a highly competitive marketplace	It 's a wait-and-see attitude
+5	It 's a wait-and-see attitude , '' said Dave Vellante , vice president of storage research for International Data Corp	Others pointed out that at least four other disk-drive makers will have competitive one-inch drives early next year and that the industry already operates on very thin margins
+0	The company also faces delisting by the National Association of Securities Dealers	The company continues to trade in the over-the-counter market with an exception to listing requirements
+5	The company continues to trade in the over-the-counter market with an exception to listing requirements	MiniScribe filed a status report with the NASD on Monday , detailing its efforts to comply with listing requirements and requesting an extension of the exception , but has n't received a response
+5	the board still has n't acted on most of the internal report 's recommendations , pending restatement of the balance sheet	that he expects to make a recommendation within a few weeks on whether MiniScribe should file its own lawsuits against former company officers and directors
+6	By concentrating all their resources on the pay raise , Wright and Tower , the networks actually overlooked some major stories that showed the flaws and shortcomings of the institution	An imaginative producer could easily have created a fast-moving and interesting piece about how Congress really works -- and why voters in , say , West Virginia got a federally funded university project and building while voters in Arkansas did not
+5	The operative definition of newsworthiness will favor virtually unrestrained use of personal , sensitive and intimate facts	Traditional standards of relevancy and importance ( `` is this something the public ought to know '' ) will be replaced by a much broader test ( `` is this something the public is interested in knowing
+5	The operative definition of newsworthiness will favor virtually unrestrained use of personal , sensitive and intimate facts.Traditional standards of relevancy and importance ( `` is this something the public ought to know '' ) will be replaced by a much broader test ( `` is this something the public is interested in knowing '' ) .And , since the public has always been fascinated by gossip and voyeurism , reporters and editors will strain for creative angles to justify the inclusion of collateral facts about private lives including sexual activities and domestic relationships , activities of family members , and all matters about mental and physical health.Similarly , visual images will be more vivid , sensational and , sometimes , gruesome	One consequence of the trend toward tabloid standards of taste will be fierce attacks from politicians who will find sufficient evidence of abuse to arouse an already cynical public to control the press
+2	The seemingly mundane action has important implications for banks ' recent entry into the underwriting of corporate securities	The Fed 's action increases the volume of publicly registered securities that banks ' securities affiliates will be able to underwrite
+2	Over the past two years , the Fed has given a handful of banks ' securities affiliates permission to underwrite and deal in a variety of corporate , asset-backed and municipal securities that had previously been the sole domain of securities firms	Securities firms have challenged those Fed approvals , saying they violate federal laws separating the banking and securities businesses
+9	As many as 50 of his employees at Specialized Bicycle Components Inc. ride with him	When they return to their desks at 1 p.m. , they have pedaled 20 miles
+2	But today , the company needs its entrepreneurial spirit more than ever	One large competitor after another is leaping into the booming market Specialized helped create , turning out mountain bikes with such well-known names as Schwinn , Peugeot , Raleigh and Nishiki
+8	Thus , Mr. Sinyard 's company must innovate more than ever to stay ahead of them , by developing new products specifically for mountain biking.At the same time , though , it must become more structured to better manage its growth	Accomplishing both will be a balancing act as challenging as riding a unicycle
+1	The big word around Specialized is passion	What I hope to bring to this is another word : process
+2	Mr. Eidsmo is one of several key people from outside the cycling industry who were hired to bring the free-wheeling , fast-growing company under tighter control	We had a lot of problems
+6	We had a lot of problems	While the company 's sales were soaring , `` We still had a system that was probably appropriate for $ 10 million to $ 20 million in sales
+5	While the company 's sales were soaring , `` We still had a system that was probably appropriate for $ 10 million to $ 20 million in sales	What felt good that day was done that day
+2	Since his arrival in May , Mr. Eidsmo has put in place techniques learned while working for Citicorp , such as management-by-objective , detailed project plans and forecasts of company sales and product trends	We 're finally getting -- and it 's been very painful -- some understanding of what the company 's long-term horizon should begin to look like
+2	But it 's risky	You do n't want to lose the magic '' of the company 's creative drive
+6	Hoping to stay ahead of the pack , the company is emphasizing innovation	At a recent trade show , convention-goers lined up to view a new Specialized bike frame that weighs just 2.7 pounds -- a pound less than the lightest mountain-bike frame on the market
+5	At a recent trade show , convention-goers lined up to view a new Specialized bike frame that weighs just 2.7 pounds -- a pound less than the lightest mountain-bike frame on the market	By replacing the frame 's steel lugs with titanium ones , Mr. Sinyard 's company plans to make its next generation of frames even lighter
+9	It currently costs $ 750 , though Mr. Sinyard thinks the price can be reduced within three years to between $ 200 and $ 250	He was able to slash the price of the company 's least expensive mountain bike to $ 279 from $ 750 in
+2	But demands on the company 's creativity are certain to grow	Competition is intensifying as larger companies invade a mountain-bike market Mr. Sinyard 's company once had virtually all to itself
+8	Competition is intensifying as larger companies invade a mountain-bike market Mr. Sinyard 's company once had virtually all to itself	mountain biking is `` growing at such a monstrous rate that a lot of companies are getting into this
+2	One especially coveted Specialized market the new players are targeting is mountain-bike accessories	Accessories not only sell faster than whole bikes , they also offer profit margins nearly double the 25 % to 30 % or so on sales of complete cycles
+2	Accessories not only sell faster than whole bikes , they also offer profit margins nearly double the 25 % to 30 % or so on sales of complete cycles	To get a piece of the business , Nike Inc. , Beaverton , Ore. , introduced a line of mountain-bike shoes
+8	Accessories not only sell faster than whole bikes , they also offer profit margins nearly double the 25 % to 30 % or so on sales of complete cycles	To get a piece of the business , Nike Inc. , Beaverton , Ore. , introduced a line of mountain-bike shoes
+5	To get a piece of the business , Nike Inc. , Beaverton , Ore. , introduced a line of mountain-bike shoes	About a month ago , Michelin Tire Corp. , Greenville , S.C. , began selling mountain-bike tires , for years a Specialized stronghold
+6	Competition in the sale of complete bikes is heating up too	Trek Bicycle Corp. , which accounts for one-quarter of the $ 400 million in annual sales at its Milwaukee-based parent , Intrepid Corp. , entered the mountain-bike business in 1983
+5	A subsidiary of a Taiwanese holding company with world-wide sales of $ 150 million , Giant is one example of the sudden globalization of Mr. Sinyard 's once-cozy market niche	Schwinn Bicycle Co. , Chicago , established joint ventures with bike companies in mainland China and Hungary to sell bikes
+5	Schwinn Bicycle Co. , Chicago , established joint ventures with bike companies in mainland China and Hungary to sell bikes	In the past year , Derby International Corp. , Luxembourg , has acquired such major brands as Peugeot , Raleigh and Nishiki
+2	In response to the internationalization of the business , Mr. Sinyard 's company is replacing independent distributors overseas with wholly owned subsidiaries	The move will cut out the cost of a middleman and give Specialized more control over marketing and sales
+5	Roger M. Marino , president , was named to the new post of vice chairman	Michael Ruettgers , who had been executive vice president , operations , was named president and chief operating officer
+7	We 'll raise it through bank loans	We 'll raise it through { new } equity
+8	We 'll raise it through bank loans.We 'll raise it through { new } equity.And we 'll raise it through existing shareholders '' as well as through junk bonds	the bank loan , to be arranged by February , will supply about half of the financing
+2	The consortium faced a setback in May when technical problems forced it to postpone the September launch until next spring	Continued uncertainty about the timing of the consortium 's debut could make it hard to find a # 450 million cash injection
+8	British Satellite faces competition from Sky Television , a satellite-TV venture begun last February and owned by Rupert Murdoch 's News Corp	The rivals currently are locked in a costly bidding contest for Hollywood film rights
+1	In London , the Financial Times 100-share index finished 30.1 points higher at 2112.2	The index settled off the high of 2117.1 posted after Wall Street opened stronger
+0	The 30-share index settled 23.2 points higher at 1701.7	Volume was only 256.6 million shares , breaking the previous 1989 low of 276.8 million shares recorded Oct. 23
+2	Jaguar ended 22 higher at 747	fresh buying was drawn into Jaguar
+2	that the West German company held talks with the luxury auto maker over possible joint ventures	Although Daimler has said it is n't interested in mounting a bid for Jaguar its name further underlined the growing interest in the British concern
+1	Glaxo was the biggest gainer , jumping 35 to # 13.78 ( $ 21.72 ) on anticipation of a stock split next week	Total turnover in Glaxo was a thin 975,000 shares
+5	On Monday , volume on the First Section was estimated at 600 million shares , down from 1.24 billion shares Friday	Declining issues outnumbered advancers 551 to 349
+5	Declining issues outnumbered advancers 551 to 349	224 issues were unchanged
+2	Declining issues outnumbered advancers 551 to 349 ; 224 issues were unchanged	Investors mostly took a wait-and-see attitude Monday amid uncertainty in the foreign-currency market and New York stocks
+5	fading expectation for lower interest rates made investors step back from real-estate shares	institutions were waiting to see the U.S. jobless rate to be issued Friday
+1	The Tokyo Stock Price Index of all issues listed in the First Section , which fell 15.82 points Friday , was down 5.16 points , or 0.19 % , at 2676.60	The Second Section index , which fell 36.87 points Friday , was down 21.44 points , or 0.59 % , to close at 3636.06
+5	The Second Section index , which fell 36.87 points Friday , was down 21.44 points , or 0.59 % , to close at 3636.06	Second Section volume was estimated at 15 million shares , down from 24.5 million shares Friday
+2	The energy of participating investors streamed into Tokyu Group shares	that each Group company will buy the others ' stocks to defend themselves against a rumored takeover
+6	The announcement fueled speculation for future advances in the shares	Tokyu Department Store advanced 260 to 2410
+7	Tokyu Department Store advanced 260 to 2410	Tokyu Corp. was up 150 at 2890
+7	Tokyu Department Store advanced 260 to 2410.Tokyu Corp. was up 150 at 2890	Tokyu Construction gained 170 to 1610
+8	Share prices in Frankfurt closed narrowly mixed after listless and directionless trading	The DAX index closed at 1466.29 , up only 3.36
+5	Traders said turnover was particularly thin as investors waited for Wall Street to set the direction for the week	Most expect the decline in New York stock prices to continue this week
+8	Investors welcomed the move	Courtaulds ' shares rose 15 pence to 362 pence , valuing the entire company at about # 1.44 billion
+5	Courtaulds ' spinoff reflects pressure on British industry to boost share prices beyond the reach of corporate raiders	Courtaulds ' restructuring is among the largest thus far in Britain , though it is dwarfed by B.A.T Industries PLC 's plans to spin off roughly # 4 billion in assets to help fend off a takeover bid from Anglo-French financier Sir James Goldsmith
+8	Courtaulds ' restructuring is among the largest thus far in Britain	The divested Courtaulds textile operations had operating profit of # 50 million on # 980 million in revenue in the year ended March 31
+2	Courtaulds has been under pressure to enhance shareholder value since takeover speculators -- including Australian financier Kerry Packer -- surfaced holding small stakes last year	Though Mr. Packer has since sold his stake , Courtaulds is moving to keep its institutional shareholders happy
+8	Though Mr. Packer has since sold his stake , Courtaulds is moving to keep its institutional shareholders happy	Even without a specific takeover threat , Courtaulds is giving shareholders `` choice and value
+8	Both parts can only realize their full potential and be appropriately valued by the market if they are separately quoted companies	The sharper definition and the autonomy which each will thereby gain will benefit shareholders , customers and employees
+5	the new company , Sin Kean Boon-Sanwa ( J.V . ) is capitalized at the equivalent of 54 million yen ( $ 381,000 )	The Japanese concern has a 40 % stake , while the local partner has a 60 % stake
+2	The market was pretty dull '' for most of the day	some investors were reluctant to plunge into the market ahead of several key economic indicators due this week , especially Friday 's potentially market-moving employment report
+5	Other key economic indicators due this week include today 's release of the September leading indicators index and new-home sales	Tomorrow , the October purchasing managers report is due
+2	Despite yesterday 's modest bond market gains investors are anxious about the Treasury 's huge quarterly refunding of government debt	it could be delayed if Congress and President Bush fail to increase the Treasury 's borrowing capacity
+5	The Treasury 's benchmark 30-year bond rose 1/8 point	Mortgage-backed securities were up less than 1/8 point
+2	Strong demand for New York City 's $ 813 million general obligation bonds propped up the municipal market	most municipal bonds ended 1/2 point higher
+1	The New York City issue included $ 757 million of tax-exempt bonds priced to yield between 6.50 % to 7.88 % , depending on the maturity	The $ 56 million of New York 's taxable general obligation bonds were priced to yield between 9.125 % to 9.90 %
+2	As expected , the longer-term tax-exempt New York bonds had yields nearly as high as those on taxable long-term Treasury bonds	The yield on the benchmark 30-year Treasury bond ended yesterday at about 7.92 %
+6	As expected , the longer-term tax-exempt New York bonds had yields nearly as high as those on taxable long-term Treasury bonds	The yield on the benchmark 30-year Treasury bond ended yesterday at about 7.92 %
+5	As expected , the longer-term tax-exempt New York bonds had yields nearly as high as those on taxable long-term Treasury bonds.The yield on the benchmark 30-year Treasury bond ended yesterday at about 7.92 %	the rates for the long-term tax-exempt New York City bonds were among the highest , as a percentage of Treasury rates , for any New York City issue in recent memory
+1	The benchmark 30-year bond ended at 102 7/32 to yield 7.92 % , compared with Friday 's price of 102 2/32 to yield 7.93 %	The latest 10-year notes ended at about 100 16/ 32 to yield 7.90 % , compared with 100 11/32 to yield 7.93 % on Friday
+6	Short-term interest rates rose at the government 's regular weekly Treasury-bill auction	The average discount rate on three-month bills was 7.78 % and the rate on six-month bills was 7.62 %
+8	Other Western Union securities were also lower	The company 's 7.90 % sinking fund debentures were quoted at a bid price of 14 1/4 and an offered price of 30 , while the 10 3/4 % subordinated debentures of 1997 were being bid for at 28 and offered at around 34 3/4.The 10 3/4 % debentures last traded at 35
+1	while the 10 3/4 % subordinated debentures of 1997 were being bid for at 28 and offered at around 34 3/4	The 10 3/4 % debentures last traded at 35
+1	Ginnie Mae 's 9 % issue for November delivery finished at 98 1/2 , up 4/32 , and its 10 % issue at 102 3/8 , up 4/32	Freddie Mac 's 9 % issue ended at 97 19/32 , up 2/32
+2	the second large deal in the past week	Last week , a unit of MNC Financial Corp. offered $ 268 million of home-equity securities
+6	British government bonds ended moderately higher	The benchmark 11 3/4 % bond due 2003/2007 rose 10/32 to 111 14/32 to yield 10.14 % , while the Treasury 's 12 % notes due 1995 rose 7/32 to 103 5/8 to yield 11.04 %
+6	West German government bonds fell as much as 0.60 point in light , nervous trading	The 7 % Treasury bond due October 1999 ended off 0.60 point to 99.35 to yield 7.09 % , while the 6 3/4 % notes due 1994 fell 0.35 point to 97.25 to yield 7.45 %
+6	Japanese government bonds continued to erode as the dollar remained resilient against the yen	Japan 's No . 111 4.6 % bond due 1998 ended the day on brokers screens at 95.11 to yield 5.43 %
+2	The downturn in total value may be only temporary	that restructuring to prepare for the Common Market expansion due in 1992 `` has become more of a strategic priority , both for companies inside and outside the European Community
+2	The biotechnology firms may be setting up their own competitors	that until now the Japanese have only acquired equity positions in U.S. biotechnology companies
+8	that until now the Japanese have only acquired equity positions in U.S. biotechnology companies	They are piggybacking onto developed technology
+8	They are piggybacking onto developed technology	During the past five years , Japanese concerns have invested in several of the U.S. 's 431 independent biotechnology companies
+6	During the past five years , Japanese concerns have invested in several of the U.S. 's 431 independent biotechnology companies	Chugai has been one of the most active Japanese players in U.S. biotechnology companies ; it has an equity investment in Genetics Institute Inc. , Cambridge , Mass. , and a joint-venture agreement with Upjohn Co. , Kalamazoo , Mich
+6	Chugai has been one of the most active Japanese players in U.S. biotechnology companies	it has an equity investment in Genetics Institute Inc. , Cambridge , Mass. , and a joint-venture agreement with Upjohn Co. , Kalamazoo , Mich
+8	that it wants 10 % to 11 % of its gross national product to come from biotechnology products	It is becoming more of a horse race every day between the U.S. and Japan
+5	it is important for us to have such technology	that both companies would gain technological knowledge through the sale of Gen-Probe , which will expand `` significantly '' as a result of the acquisition
+1	In 1988 , Chugai had net income of $ 60 million on revenue of $ 991 million	GenProbe had a net loss of $ 9.5 million on revenue of $ 5.8 million
+0	GenProbe had a net loss of $ 9.5 million on revenue of $ 5.8 million	Recently , Gen-Probe received a broad U.S. patent for a technology that helps detect , identify and quantify non-viral organisms through the targeting of a form of genetic material called ribosomal RNA
+8	But after a few pleasantries , the Soviets unexpectedly got serious	The Soviets have a world-leading space program , the guests noted.Would n't the Japanese like a piece of it
+2	The Soviets have a world-leading space program	Would n't the Japanese like a piece of it
+8	We were just surprised	Shocked
+6	But `` the Soviet Union has areas where it is n't behind Japan	We have obtained through the development of Cosmos { the Soviet space program } technologies you do n't see anywhere else
+2	The sales pitch might n't be as farfetched as it seems	Japan-U.S. trade relations are bumpy these days , and some Japanese favor decreasing their reliance on U.S. technology in light of the FSX fighter-plane flap , when U.S. officials reversed an earlier decision and refused to share certain crucial fighter-plane technology
+6	And , despite its image as a technology superpower , Japan has a lot of weaknesses	It 's a world leader in semiconductors , but behind the U.S. in making the computers that use those chips
+5	It 's a world leader in semiconductors , but behind the U.S. in making the computers that use those chips	It 's a world leader in auto manufacturing , but its aviation industry is struggling , and its space program is years behind the U.S. , the Europeans and the Soviets
+6	One question being debated in the Soviet Union is how to use the defense sector 's research-and-production expertise in the rest of the economy	Many plants that used to make military equipment are now being ordered to produce televisions , videocassette recorders , small tractors and food-processing machinery
+6	By contrast , the Japanese have proved adept at making use of Soviet inventions	Kobe Steel Ltd. adopted Soviet casting technology in 1966 and used it for 14 years until it developed its own system
+5	Kobe Steel Ltd. adopted Soviet casting technology in 1966 and used it for 14 years until it developed its own system	Kawasaki Steel Corp. bought a Soviet steel-casting patent two years ago and has jointly developed the system with the Soviets
+5	Kobe Steel Ltd. adopted Soviet casting technology in 1966 and used it for 14 years until it developed its own system.Kawasaki Steel Corp. bought a Soviet steel-casting patent two years ago and has jointly developed the system with the Soviets	In 1991 , the Soviets will take a Japanese journalist into space , the first Japanese to go into orbit
+6	Soviet efforts to sell their technology abroad do n't appear to worry the U.S. , Japan 's principal ally	We have never opposed the development of economic relations between our allies and the Soviet Union , '' says a State Department official
+5	We have never opposed the development of economic relations between our allies and the Soviet Union	Frankly , I would n't expect the Japanese to get hooked on anybody 's technology , least of all the Soviets
+5	Under Mikhail Gorbachev 's perestroika , the Soviets have sought economic ties all over the world , including new export markets	They believe technology is one of their best bets
+2	They believe technology is one of their best bets	The Soviets held export exhibitions that included high-tech items in New York and West Germany
+5	The Soviets held export exhibitions that included high-tech items in New York and West Germany	Last week , a Soviet delegation came to Japan to push more space technologies
+9	In August , representatives of Keidanren , Japan 's largest business organization , visited Moscow to explore exports and investments that would help the Soviet economy	Out of the blue , the Soviet Chamber of Commerce handed over details on 59 technologies that the Japanese might want to buy
+2	But they also hope to benefit from Japanese manufacturing expertise	The Soviet Union has a lot of know-how , but it has been difficult to put that into actual production because of various structural problems in the economy
+2	The Soviet Union has a lot of know-how , but it has been difficult to put that into actual production because of various structural problems in the economy	The Soviets are `` contemplating a flexible system under which it would be possible to develop { technology } jointly and even to market it jointly
+2	such discussions would be fraught with political complications	many Japanese are eager to avoid appearing to help the Soviets in any way
+8	And what they have shown is n't impressive	My impression is that there is n't anything which arouses our interest at first glance
+2	The timing for change was right	Institutions had become active market players in the early 1970s and sought exchange seats to handle their own trades
+8	The timing for change was right	Institutions had become active market players in the early 1970s and sought exchange seats to handle their own trades
+8	Within three weeks of the 1975 end to fixed rates there were all-out price wars among brokers fighting for institutional business , with rate slashes of 35 % to 60 % below pre-May 1 levels	the `` breadth and depth of the discounting is more than I expected
+6	the `` breadth and depth of the discounting is more than I expected	Even a federal measure in June allowing houses to add research fees to their commissions did n't stop it
+2	Longer term , the impact is unclear	The change prompted the rise of discount brokers and a reduction in securities research firms
+8	Longer term , the impact is unclear	The change prompted the rise of discount brokers and a reduction in securities research firms
+6	Foreign stock markets also have ended fixed commissions in recent years	It came in London 's `` Big Bang '' 1986 deregulation ; and Toronto 's `` Little Bang '' the same year
+5	It came in London 's `` Big Bang '' 1986 deregulation ; and Toronto 's `` Little Bang '' the same year	Paris is currently phasing out fixed commissions under its `` Le Petit Bang '' plan
+8	that he intended to send such a mission , composed of top government aides and business and labor leaders	The mission will visit Poland from Nov. 29 to Dec. 2
+6	Mr. Azoff and Warner came to an agreement yesterday to form a 50-50 joint-venture company funded by Warner and run by Mr. Azoff	Among other things Mr. Azoff would develop musical acts for a new record label
+5	to be similar to Warner 's 50-50 partnership with record and movie producer David Geffen , whose films and records are distributed by the Warner Bros. studio and the Warner records unit	Although Mr. Azoff wo n't produce films at first , it is possible that he could do so later
+2	But Mr. Azoff had been negotiating for more than a year to get out of his MCA contract	Mr. Azoff was bored and frequently clashed with top MCA management over a number of issues such as compensation and business plans
+8	Mr. Azoff also was eager to return to a more entrepreneurial role in which he had a big financial stake in his own efforts	I 'd rather build a company than run one
+8	Tom Panelli had a perfectly good reason for not using the $ 300 rowing machine he bought three years ago	I ate a bad tuna sandwich , got food poisoning and had to have a shot in my shoulder making it too painful to row
+2	Yet the rowing machine has n't been touched since	but it left grease marks on his carpet , `` and it was boring
+2	It 's a horrible machine , actually	I 'm ashamed I own the stupid thing
+8	Mr. Panelli has plenty of company	Nearly three-fourths of the people who own home exercise equipment do n't use it as much as they planned , according to The Wall Street Journal 's `` American Way of Buying '' survey
+2	Nearly three-fourths of the people who own home exercise equipment do n't use it as much as they planned , according to The Wall Street Journal 's `` American Way of Buying '' survey	almost half of the exercise equipment owners found it duller than they expected
+4	It is n't just exercise gear that is n't getting a good workout	The fitness craze itself has gone soft
+6	The fitness craze itself has gone soft	Fewer people said they were working up a sweat with such activities as jogging , tennis , swimming and aerobics.Half of those surveyed said they simply walk these days for exercise
+5	Fewer people said they were working up a sweat with such activities as jogging , tennis , swimming and aerobics	Half of those surveyed said they simply walk these days for exercise
+2	some people do n't use their machines as much as they should	The first excuse is they do n't have enough time The second is they do n't have enough discipline
+5	The first excuse is they do n't have enough time	The second is they do n't have enough discipline
+5	Still , the average price of such bikes rose last year to $ 145	Mr. Doyle predicts a trend toward fewer pieces of home exercise equipment being sold at higher prices
+6	Mr. Doyle predicts a trend toward fewer pieces of home exercise equipment being sold at higher prices	Electronic gimmicks are key
+2	Nancy Igdaloff may be a good prospect for such a gizmo	She 's trying to sell a $ 150 exercise bike she bought about five years ago for her roommate
+8	But rather than write off home fitness equipment , she traded up	Ms. Igdaloff just paid about $ 900 for a fancier stationary bike , with a timer , dials showing average and maximum speeds and a comfortable seat that feels almost like a chair
+5	I 'm using it a lot	I spent so much money that if I look at it , and I 'm not on it , I feel guilty
+2	I 'm using it a lot	I spent so much money that if I look at it , and I 'm not on it , I feel guilty
+6	The poll points up some inconsistencies between what people say and what they do	A surprising 78 % of people said they exercise regularly , up from 73 % in 1981
+0	This conjures up images of a nation full of trim , muscular folks , and suggests couch potatoes are out of season	Of course , that is n't really the case
+8	because asking people about their fitness regime is a bit like inquiring about their love life	They 're bound to exaggerate
+2	People say they swim , and that may mean they 've been to the beach this year	It 's hard to know if people are responding truthfully
+2	It 's hard to know if people are responding truthfully	People are too embarrassed to say they have n't done anything
+8	the president 's council now uses specific criteria to determine what is considered vigorous	It must produce contractions of large muscle groups , must achieve 60 % of maximum aerobic capacity and must be done three or more times a week for a minimum of 20 minutes
+1	One of the council 's goals , set in 1980 , was to see more than 60 % of adults under 65 years of age getting vigorous exercise by 1990	That target has been revised to 30 % by the year 2000
+2	But even that goal may prove optimistic	Of 14 activities , the Journal survey found that 12 -- including bicycling , skiing and swimming -- are being done by fewer Americans today than eight years ago
+8	Of 14 activities , the Journal survey found that 12 -- including bicycling , skiing and swimming -- are being done by fewer Americans today than eight years ago	Time pressures and the ebb of the fitness fad are cited as reasons for the decline
+6	Only walking and golf increased in popularity during the 1980s -- and only slightly	Jeanette Traverso , a California lawyer , gave up running three times a week to play a weekly round of golf , finding it more social and serene
+5	Jeanette Traverso , a California lawyer , gave up running three times a week to play a weekly round of golf , finding it more social and serene	It 's an activity she feels she can do for life , and by pulling a golf cart , she still gets a good workout
+8	and by pulling a golf cart , she still gets a good workout	I 'm really wiped out after walking five hours
+6	Most people said they exercise both for health and enjoyment	If you sit down all the time , you 'll go stiff , '' says Joyce Hagood , a Roxboro , N.C. , homemaker who walks several miles a week
+6	And it 's relaxing	Sometimes , if you have a headache , you can go out and walk it right off
+2	Slightly more , like Leslie Sherren , a law librarian in San Francisco who attends dance aerobics five times a week , exercise to relieve stress	Working with lawyers I need it
+2	they did n't need to belong to a health club	They 're too crowded , and everybody 's showing off
+6	and everybody 's showing off	The guys are being macho , and the girls are walking around in little things
+8	The guys are being macho , and the girls are walking around in little things	They 're not there to work out
+1	But at least they show up	Nearly half of those who joined health clubs said they did n't use their membership as often as they planned
+4	they did n't use their membership as often as they planned	Feeling they should devote more time to their families or their jobs , many yuppies are skipping their once-sacred workout
+6	There are die-hard bodies , of course	People were going nuts the minute we opened , '' three days after the quake
+2	People were going nuts the minute we opened , '' three days after the quake	The emotional aspect is so draining , they needed a good workout
+2	that the bowling alley may be an endangered American institution	the number of people who said they bowl regularly has fallen to just 8 % from 17 % in 1981
+8	The survey reported the number of people who said they bowl regularly has fallen to just 8 % from 17 % in 1981	The American Bowling Congress claims a higher percentage of the public bowls regularly , but concedes its membership has declined this decade
+8	and dissatisfaction with bowling itself	People who start bowling expecting it to be a pleasurable exercise `` have been generally disappointed
+5	It 's good exercise	but I like meeting the girls
+5	I ca n't do anything score-wise , but I like meeting the girls	bowling helps him shed pounds , though that effort is sometimes thwarted by the fact that `` when I 'm drinking , I bowl better
+2	The outcome of our leveraged buyout is looking very positive	Unlike most of the other retailers mentioned in the story , Jos.A . Bank Clothiers Inc. is not in serious financial problems
+2	Unlike most of the other retailers mentioned in the story , Jos.A . Bank Clothiers Inc. is not in serious financial problems	We did experience some difficulties with the initial LBO terms and , as your article made clear , successfully restructured our debt earlier this year , something those other retailers have yet to accomplish
+8	When it comes to busting ghosts , the Monroe , Conn. , couple are perfect demons	They claim to have busted spirits , poltergeists and other spooks in hundreds of houses around the country
+5	They claim to have busted spirits , poltergeists and other spooks in hundreds of houses around the country	They say they now get three or four `` legitimate '' calls a week from people harried by haunts
+8	and he can even tell you how to encourage the spirits	All you have to do is eat a big pizza , and then go to bed
+9	All you have to do is eat a big pizza , and then go to bed	You 'll have weird dreams , too
+8	Either way , the ghostbusting business is going like gangbusters	Tales of haunts and horrors are proliferating beyond the nation 's Elm Streets and Amityvilles
+6	Tales of haunts and horrors are proliferating beyond the nation 's Elm Streets and Amityvilles	I get calls nearly every day from people who have ghosts in their house , '' says Raymond Hyman , a skeptical psychology professor at the University of Oregon
+2	In a public opinion poll published in the October issue of Parents Magazine , a third of those queried said they believe that ghosts or spirits make themselves known to people	The movies , the books , the tabloids -- even Nancy Reagan is boosting this stuff
+5	The spirits , of course , could hardly care less whether people do or do n't believe in them	They do n't even give a nod to human sensibilities by celebrating Halloween
+4	They do n't even give a nod to human sensibilities by celebrating Halloween	For the spooks it 's just another day of ectoplasmic business as usual
+8	For the spooks it 's just another day of ectoplasmic business as usual	the holiday seems to occasion no unusual number of ghost reports
+4	But they do n't careen around in an old Cadillac , wear funny suits or blast away at slimy spirits	Mr. Baker drives a 1987 Chevy and usually wears a tweed jacket on his ghostbusting forays
+6	But they do n't careen around in an old Cadillac , wear funny suits or blast away at slimy spirits	Mr. Baker drives a 1987 Chevy and usually wears a tweed jacket on his ghostbusting forays
+1	A foul-smelling demon supposedly plagued a house in Mannington , Ky	Mr. Baker found an opening under the house that led to a fume-filled coal mine
+9	A foul-smelling demon supposedly plagued a house in Mannington , Ky	Mr. Baker found an opening under the house that led to a fume-filled coal mine
+9	When the weather cools hobos often hole up in abandoned houses	People see activity in there , and the next thing you know , you 've got a haunting
+6	to report mysterious happenings in her house	Mrs. Stinnett says she never believed in ghosts before , but lately her vacuum cleaner turned itself on , a telephone flew off its stand , doors slammed inexplicably , and she heard footsteps in her empty kitchen
+6	Mr. Baker hears her out , pokes around a bit , asks a few questions and proposes some explanations	Of the self-starting vacuum cleaner , he says : `` Could be Cuddles , { Mrs.Stinnett 's dog } . '' The flying telephone : `` You tangle the base cord around a chair leg , and the receiver does seem to fly off . '' The ghostly footsteps : `` Interstate 64 is a block away , and heavy traffic can sure set a house to vibrating
+5	Of the self-starting vacuum cleaner , he says : `` Could be Cuddles , { Mrs.Stinnett 's dog }	The flying telephone : `` You tangle the base cord around a chair leg , and the receiver does seem to fly off
+5	Of the self-starting vacuum cleaner , he says : `` Could be Cuddles , { Mrs.Stinnett 's dog } . '' The flying telephone : `` You tangle the base cord around a chair leg , and the receiver does seem to fly off	The ghostly footsteps : `` Interstate 64 is a block away , and heavy traffic can sure set a house to vibrating
+5	I 'm not sure he 's explained everything	There are some things that have gone on here that nobody can explain
+9	I tell people it 's the groundup bones of saints	I sprinkle a little around and tell the demons to leave
+8	Oregon 's Mr. Hyman has investigated claims of flying cats , apparitions and bouncing chandeliers and has come up with a plausible explanation , he says , for every one	Invariably eyewitnesses are untrustworthy
+8	Two years ago , a Canadian reader bet Omni Magazine $ 1,000 that it could n't debunk the uncanny goings-on in `` the Oregon Vortex	To viewers from a distance , visitors to the spot seemed to shrink disproportionately , relative to the background
+8	and showed how the apparent shrinkage was caused by the perspective	A very striking illusion but an illusion nevertheless
+2	A very striking illusion but an illusion nevertheless	The Canadian wound up writing a check
+2	The Rev . Alphonsus Trabold , a theology professor and exorcism expert at St. Bonaventure University in Olean , N.Y. , frequently is asked to exorcise unruly spirits , and he often obliges	On certain occasions a spirit could be earthbound and make itself known
+8	On certain occasions a spirit could be earthbound and make itself known	It happens
+5	If the person believes there 's an evil spirit , you ask it to be gone	The suggestion itself may do the healing
+6	But sometimes more energetic attacks are required	To wrestle with a demon in a house owned by a Litchfield , Conn. , woman , the Warrens recently called in an exorcist , the Rev . Robert McKenna , a dissident clergyman who hews to the Catholic Church 's old Latin liturgy
+6	Mr. Warren pronounces the Litchfield case `` your typical demonic infestation	A Scottish dwarf built the small red house 110 years ago and now his demonic ghost haunts it
+5	A Scottish dwarf built the small red house 110 years ago and now his demonic ghost haunts it , Mr. Warren says	The owner , who begs anonymity , asserts that the dwarf , appearing as a dark shadow , has manhandled her , tossing her around the living room and yanking out a hank of hair
+9	Father McKenna moves through the house praying in Latin , urging the demon to split	Suddenly the woman begins swaying and then writhing
+9	Suddenly the woman begins swaying and then writhing	She 's being attacked by the demon , '' Mrs. Warren stagewhispers
+2	A half-hour later , the woman is smiling and chatting	the demon seems to have gone
+1	the woman has `` psychic burns '' on her back from the confrontation	She declines to show them
+5	Shearson Lehman Hutton Inc. counts under 39,000 workers , down 100 from the start of the year and off 8,500 from after its merger and the market collapse two years ago	Another major firm has cut 6,000 workers , 13 % of its staff , since Black Monday
+5	Another major firm has cut 6,000 workers , 13 % of its staff , since Black Monday	The Bureau of Labor Statistics says securities firms in New York City alone have slashed 17,000 jobs from the December 1987 peak of 163,000
+6	Any hiring is confined to retail sales	Illinois Company Investments had been trimming its ranks until last summer.But then it was acquired by Household International Inc. Now it offers richer commissions to lure a broker a week
+5	Now it offers richer commissions to lure a broker a week	Interstate/Johnson Lane Inc. this year adds 70 people -- 60 of them in retail -- to its 1,300-member staff
+5	But then it was acquired by Household International Inc. Now it offers richer commissions to lure a broker a week.Interstate/Johnson Lane Inc. this year adds 70 people -- 60 of them in retail -- to its 1,300-member staff	A.G. Edwards & Sons runs training classes and looks for experienced brokers
+1	I do n't foresee any shortages over the next few months	Ironically , `` up until the quake , we desperately tried to fill jobs , '' especially for crane and bulldozer operators
+2	The supply of experienced civil engineers , though , is tighter	In recent months , California 's Transportation Department has been recruiting in Pennsylvania , Arizona and Texas for engineers experienced in road and bridge design
+2	But , with the state offering only $ 39,000 a year and California 's high standard of living , `` there are n't too many to choose from	the department now has 75 openings and wants to hire 625 civil engineers over the next 15 months
+8	when the Labor Department backed away from a proposal that companies let former employees and beneficiaries -- along with active workers -- borrow against balances in 401 ( k ) and similar savings plans	In an advisory letter , the department said that , starting Oct. 18 , loans could be limited to `` parties in interest
+1	that IRS regulations being drafted could put companies in violation of the tax code if they make loans to retiree shareholders and directors but do n't make them available to other former workers who usually earned less	the question wo n't be settled until the regulations are issued `` shortly
+8	But violation could bring substantial tax penalties to both employer and employees	It 's a severe case of regulatory whiplash
+6	CORPORATE DOWNSIZING digs deeper	the average pay of its clients fell to $ 66,743 last year from $ 70,765 in 1987
+5	the average pay of its clients fell to $ 66,743 last year from $ 70,765 in 1987	severance pay dropped to 25 weeks from 29
+2	Only one in four companies with flexible benefit plans lets workers buy or sell vacation days	Employees like the option but firms say it 's too tough to run
+5	STUDENTS SHUN burger flipping for jobs tied to careers	Some even study
+2	Fast-food jobs are n't popular no matter what they pay	Working students want `` some satisfaction
+2	Working students want `` some satisfaction	University of Michigan students look for jobs related to planned careers
+8	some students conclude they can help their careers most by hitting the books	They 're opting to build their resumes through good grades and leadership roles in fraternities
+6	Slowing economies in some areas limit student choice	Student job postings at Boston University slip 10 % this year following a 10 % drop in 1988
+2	Democracy is making a return with a vengeance to Latin America 's most populous and deeply indebted country	On Nov. 15 , when Brazilians elect a president for the first time in 29 years , the country 's 82 million voters will have 22 candidates to choose from
+8	Who that winner will be is highly uncertain	A half-dozen candidates , backing policies ranging from Thatcherism to watered-down Marxism , are given a chance of winning
+2	A half-dozen candidates , backing policies ranging from Thatcherism to watered-down Marxism , are given a chance of winning	Whoever says he knows which of the six will win is out of his mind
+6	The uncertainty is sending shivers through Brazilian financial markets	The dollar , the best indicator of the country 's mood , has skyrocketed on the parallel market , as has gold
+5	The dollar , the best indicator of the country 's mood , has skyrocketed on the parallel market , as has gold	Capital flight is reported to be strong
+1	The big question is whether the new president will have the strength and the political support in Congress to take steps to cure Brazil 's economic ills	President Jose Sarney appears to be simply trying to avoid hyperinflation
+8	Still , massive internal debt has forced the government to borrow massively on the domestic market and to offer inflation-adjusted returns of 2 % to 3 % a month just to get investors to hold on to its paper	About $ 70 billion is estimated to be tied up in the short-term money market , which acts both as a hedge against inflation for consumers and an accelerator of inflation and deficits for the government
+6	Among the results is a frequent breakdown of public services	It 's not uncommon to wait three minutes for a dial tone after picking up the telephone , and then to be interrupted by a busy signal before finishing dialing the number
+10	But his inexperience raises doubts that he would have the political power to carry them out	The 67-year-old Mr. Brizola has been vague about his intentions and often inflammatory in his rhetoric , but analysts say he probably would be pragmatic
+5	But his inexperience raises doubts that he would have the political power to carry them out	The 67-year-old Mr. Brizola has been vague about his intentions and often inflammatory in his rhetoric , but analysts say he probably would be pragmatic
+6	Mr. Conn charges that Humana 's own actions undermine its argument	When a hospital in Lexington installed a lithotripter last year , demand for a similar kidney-stone smashing machine at a Humana hospital in Louisville fell 34 % .The Humana hospital responded by jacking up prices to make up for lost revenue , Mr. Conn says , and now charges as much as $ 8,000 for the procedure , which costs only about $ 3,500 in Lexington
+2	When a hospital in Lexington installed a lithotripter last year , demand for a similar kidney-stone smashing machine at a Humana hospital in Louisville fell 34 %	The Humana hospital responded by jacking up prices to make up for lost revenue
+1	Meanwhile , another hospital 's proposal for a new-generation lithotripter is pending before the board that administers the certificate-of-need law	Humana , which wants to acquire one of the new machines itself , is on the record as opposed to the proposal
+8	Now there 's a new wrinkle in what young doctors want	More than half of 300 residents responding to recent survey said they 'd prefer a guaranteed salary over traditional fee-for-service compensation in their first professional position
+1	Ten years ago , a physician would go to a town and take out a loan ( to start a practice )	They wo n't do that very often today at all
+4	They wo n't do that very often today at all	They 're looking for something that 's very safe
+5	The average debt of medical school graduates who borrowed to pay for their education jumped 10 % to $ 42,374 this year from $ 38,489 in 1988	That 's 115 % more than in 1981
+5	Money is n't the only reason for the shift in practice preferences	It reflects values of a generation that wants more time for families and personal interests
+8	It reflects values of a generation that wants more time for families and personal interests	This is a change in the social fabric of medicine
+8	The 12-bed `` cooperative care '' unit is one of about 18 nationwide where a family member or friend helps care for a patient in the hospital	The philosophy is to make the patient and the family very responsible for a portion of their own care
+8	The philosophy is to make the patient and the family very responsible for a portion of their own care	It helps us , and them , while they 're here , and it certainly makes them a better health-care team when they get home
+2	It also saves money	Because patients require less attention from nurses and other staff , room charges are lower
+8	The approach has generated so much interest that NYU is host to the first conference on cooperative care Nov. 30	It 's really part of the hospital of the 21st century
+5	THE CHIEF NURSING officer can be responsible for more than 1,000 employees and at least one-third of a hospital 's budget	a head nurse typically oversees up to 80 employees and $ 8 million
+1	Knight-Ridder would n't comment on the offer	The company has said the paper is n't for sale , and has rebuffed Mr. McMaster 's earlier requests for access to Free Press financial statements
+9	Knight-Ridder would n't comment on the offer	The company has said the paper is n't for sale , and has rebuffed Mr. McMaster 's earlier requests for access to Free Press financial statements
+1	Under the plan holders of its common units will receive one share of new common stock in Edisto Resources Corp. for every 14.97 common units owned	Holders of NRM 's $ 2 cumulative convertible acquisition preferred units will receive one new common share in Edisto for every 1.342 units they own
+5	As the largest holder of acquisition preferred units , Mesa Limited Partnership would own about 28 % of Edisto after the transaction	As part of the transaction , Edisto agreed to give Mesa , an Amarillo , Texas , oil and gas partnership managed by T. Boone Pickens Jr. , a seat on its board
+0	Sherwin-Williams Co. and Whittaker Corp. said they 've discontinued talks toward a definitive agreement regarding Sherwin-Williams ' acquisition of Whittaker 's chemical coating group	The companies reached an agreement in principle for the sale in August
+5	After hitting two-year highs this summer , net sales of stock funds slowed in September , according to the Investment Company Institute , a trade group	The sales recovery screeched to a halt this month
+1	Confidence was starting to come back because we did n't have wildly volatile days	Now everything '' -- such as program trading and wide stock market swings -- `` that everyone had pushed back in their consciousness is just sitting right there
+5	But if reinvested dividends are excluded , investors put in only $ 340 million more than they pulled out for the month	October 's numbers , which wo n't be released for a month , are down further
+4	Investors in stock funds did n't panic the weekend after mid-October 's 190-point market plunge	Most of the those who left stock funds simply switched into money market funds
+5	But the stock market swings have continued	The recent outcry over program trading will cast a pall over the stock-fund environment in the coming months
+8	Investors pulled back from bond funds in September , too	Net sales of bond funds for the month totaled $ 1.1 billion , down two-thirds from $ 3.1 billion in August
+5	The major reason : heavy outflows from high-risk , high-yield junk bond funds	Big withdrawals from the junk funds have continued this month
+8	Many small investors went for the safety of money market funds	Assets of these and other short-term funds surged more than $ 5 billion in September
+5	Assets of these and other short-term funds surged more than $ 5 billion in September	additional investors transferred their assets into money funds this month
+1	At Fidelity Investments , the nation 's largest fund group , money funds continue to draw the most business	In October , net sales of stock funds at Fidelity dropped sharply
+8	Investor interest in stock funds `` has n't stalled at all	that most of the net sales drop stemmed from a three-day period following the Friday the 13th plunge
+6	One trend that continues is growth in the money invested in funds	Buoyed by the continued inflows into money funds , assets of all mutual funds swelled to a record $ 953.8 billion in September , up fractionally from $ 949.3 billion in August
+8	Stock-fund managers , meantime , went into October with less cash on hand than they held earlier this year	These managers held 9.8 % of assets in cash at the end of September , down from 10.2 % in August and 10.6 % in September 1988
+8	Managers of junk funds were bolstering their cash hoards after the September cash crunch at Campeau Corp	Junk-portfolio managers raised their cash position to 9.4 % of assets in September from 8.3 % in August
+1	Junk-portfolio managers raised their cash position to 9.4 % of assets in September from 8.3 % in August	In September 1988 , that level was 9.5 %
+2	Investors in all funds will seek safety in the coming months	Among stock funds , the conservative growth-and-income portfolios probably will remain popular
+1	Secretary of State Baker , we read , decided to kill a speech that Robert Gates , deputy national security adviser and a career Soviet expert , was going to give to a student colloquium , the National Collegiate Security Conference	We keep wondering what Mr. Gates wanted to say
+4	Perhaps he might have cited Mr. Gorbachev 's need for `` a stable currency , free and competitive markets , private property and real prices '' and other pie-in-the-sky reforms	Perhaps he 'd have called for `` a decentralized political and economic system '' without a dominant communist party
+5	If Mr. Gates had been allowed to say these things , we would now be hearing about `` discord '' and `` disarray '' on foreign policy	Dark hints would be raised that parts of the administration hope Mr. Gorbachev would fail , just as they were when Vice President Quayle voiced similar sentiments
+8	In fact , he did	the quotes above are from Mr. Baker 's speech of two weeks ago
+8	So far as we can see , there is no disagreement among Mr. Baker , Mr. Quayle , the Mr. Gates we 've read , or for that matter President Bush	They all understand point one : Nothing the U.S. can do will make much difference in whether Mr. Gorbachev succeeds with perestroika
+1	They all understand point one : Nothing the U.S. can do will make much difference in whether Mr. Gorbachev succeeds with perestroika	Perhaps Mr. Gates would emphasize more than Mr. Baker the many hurdles the Soviet leader must leap if he is going to succeed
+2	that Mr. Gorbachev 's problems result from the failure of his own system	They can be relieved only by changing that system , not by pouring Western money into it
+8	They can be relieved only by changing that system , not by pouring Western money into it	GATT membership will not matter to Donbas coal miners short of soap , nor will a START treaty make any difference to Ukrainian nationalists
+2	On the other hand , so long as Mr. Gorbachev is easing his grip on his empire , everyone we 've heard agrees that the U.S. can benefit by engaging him	If a deal can be made to cut the world 's Ortegas loose from Moscow , why not
+5	If a deal can be made to cut the world 's Ortegas loose from Moscow , why not	We do n't expect much good from nuclear-arms control , but conventional-arms talks might demilitarize Eastern Europe
+5	Mr. Baker may want to avoid criticism from Senate Majority Leader George Mitchell , but as Secretary of State his audience is the entire Free World , not just Congress	In any case , he 's likely to find that the more he muzzles his colleagues , the more leaks will pop up all around Washington
+5	In any case , he 's likely to find that the more he muzzles his colleagues , the more leaks will pop up all around Washington , a lesson once learned by Henry Kissinger	Letting officials express their own nuances can be educational
+6	Letting officials express their own nuances can be educational	that in Rome yesterday Defense Secretary Cheney said that European euphoria over Mr. Gorbachev is starting to be tempered by a recognition of `` the magnitude of the problems he was trying to deal with
+1	It is in the Western interest to see Mr. Gorbachev succeed	The odds are against him , as he himself would no doubt tell you
+2	Even if the press is ready to seize and misinterpret , these are not very complicated thoughts	Surely there is someone in the administration , maybe Bob Gates , who could explain them to college students , or even schoolchildren
+9	Vernon E. Jordan was elected to the board of this transportation services concern	Mr. Jordan has served as executive director of the United Negro College Fund , director of the Voter Education Project of the Southern Regional Council and attorney-consultant to the U.S. Office of Economic Opportunity
+9	Two gunmen entered a Maryland restaurant , ordered two employees to lie on the floor and shot them in the backs of their heads	The killers fled with less than $ 100
+2	Sen. Strom Thurmond ( R. , S.C. ) recently urged fellow lawmakers to revive a broad federal death penalty	The ultimate punishment will protect the law-abiding from the vicious , cruel individuals who commit these crimes
+2	The law that Sen. Thurmond is pushing would be irrelevant in the case of the Maryland restaurant murders and almost all other killings	Most murders are state crimes
+8	Yet the bill is riding high on the furor over drug trafficking	Senate Republicans , after repeatedly failing to attach death-penalty amendments to unrelated legislation , have finally gotten a full-blown death-penalty bill through committee
+5	Senate Republicans have finally gotten a full-blown death-penalty bill through committee	The Democratic leadership agreed to allow a floor vote on the issue before the end of the year
+2	For one thing , it 's unlikely that many people would receive federal death sentences , let alone be executed	Most of the crimes incorporated in the Thurmond bill are exceedingly rare
+5	In fact , only 28 defendants would have been eligible for federal death sentences if the Thurmond bill had been in effect in the past three years , according to a study by the Senate Judiciary Committee 's Democratic staff	The last federal execution before the Supreme Court 's 1972 ruling banning the death penalty took place in 1963 , meaning that the federal government did n't exercise its execution authority for eight years
+8	In that sense , the whole debate is sort of a fraud	It 's distracting attention from serious issues
+1	but that is n't the point	that the mere existence of the penalty deters many people from the commission of capital crimes
+8	this bill has made race a major part of the death-penalty debate	Before the bill left committee , Sen. Edward Kennedy ( D. , Mass . ) attached an amendment that would allow a defendant to escape from a death sentence in jurisdictions shown to have meted out executions in a racist manner . The amendment prompted an ironic protest from Mr. Thurmond , who complained that it would `` kill '' capital punishment
+5	The amendment prompted an ironic protest from Mr. Thurmond , who complained that it would `` kill '' capital punishment	A large number of studies suggest that state judges and juries have imposed the penalty in a racially discriminatory fashion
+6	And the Kennedy amendment would invade not only federal but state sentencings , in two important ways	It would allow all defendants to introduce statistical evidence showing racially disproportionate application of the death penalty in the past
+2	That burden is very difficult , if not impossible , to meet	How do you prove a negative
+2	How do you prove a negative	Since most prosecutors would n't be able to demonstrate conclusively that racial considerations did n't affect sentencing , executions everywhere might come to a halt
+0	At least 15 major studies purport to show that particular states have imposed the death penalty disproportionately against killers of whites compared with blacks , and against black defendants compared with white defendants	Conservatives question the validity of the studies and note that the Supreme Court ruled in 1987 that such research , regardless of its accuracy , is n't relevant to a constitutional attack on a particular death sentence
+2	The Kennedy amendment would , in effect , legislate around the Supreme Court ruling	Lawyers would eagerly seize on the provision in their death-penalty appeals
+6	But if it survives , it could prompt other statutory changes	It might force Congress and the states to narrow the death penalty only to convictions shown to be relatively free of racial imbalance
+5	Robert Kornreich , an attorney for the Telerate holders , told Judge Hartnett the Dow Jones offer is `` arrogant '' and `` hostile	He accused Dow Jones of `` using unfair means to obtain the stock at an unfair price
+5	Telerate provides information about financial markets through an electronic network	Dow Jones publishes The Wall Street Journal , Barron 's magazine , other periodicals and community newspapers and operates electronic business information services
+9	the bankruptcy court granted Lone Star Steel an extension until year end on its exclusive period to present a reorganization plan	The 120-day exclusivity period was to expire yesterday
+6	Nothing was going to hold up the long-delayed settlement of Britton vs.Thomasini	Not even an earthquake
+5	The walls shook	the building rocked
+2	the building rocked	For a while , it looked like the deal -- not to mention the courtroom itself -- was on the verge of collapse
+9	The judge came out and said , ` Quick , let 's put this on the record	I said , ` NOW ?
+5	A 10-gallon water cooler had toppled onto the floor , soaking the red carpeting	Lights flickered on and off
+5	Lights flickered on and off	plaster dropped from the ceiling
+10	Lights flickered on and off ; plaster dropped from the ceiling , the walls still shook and an evacuation alarm blared outside	The four lawyers climbed out from under a table
+2	And the lawyers were just as eager as the judge to wrap it up	We were never going to get these insurance companies to agree again
+0	Indeed , the insurance adjusters had already bolted out of the courtroom	The lawyers went to work anyway , duly noting that the proceeding was taking place during a major earthquake
+6	The insurance adjusters think differently	I did n't know if it was World War III or what , '' says Melanie Carvain of Morristown , N.J
+2	I did n't know if it was World War III or what	Reading the settlement into the record was the last thing on my mind
+8	Elaborating on the concern about doctors ' sacrificing earnings in order to spend `` talk time '' with patients , we are finding the quality of the time spent is the key to true rapport	Even brief conversations can show caring and trust , and need not restrict the efficiency of the communication or restrain the doctor 's earnings
+2	The issue is far-reaching	Right now , the American populace is spending about 12 % of our gross national product on health care
+6	with foreign auto makers beginning car and truck production in the U.S	With companies such as Honda Motor Co. , Toyota Motor Corp. and Nissan Motor Co. running so-called transplant auto operations , Japanese auto production in the U.S. will reach one million vehicles this year
+8	Unless the market goes to 19 million units we have the inescapable fact that the transplants are adding capacity	The Japanese-managed plants eventually will have the capacity to build some 2.5 million vehicles in the U.S
+5	Revco reacted cautiously , saying the plan would add $ 260 million of new debt to the highly leveraged company	It was Revco 's huge debt from its $ 1.3 billion leveraged buy-out in 1986 that forced it to seek protection under Chapter 11 of the federal Bankruptcy Code
+9	Revco reacted cautiously , saying the plan would add $ 260 million of new debt to the highly leveraged company	It was Revco 's huge debt from its $ 1.3 billion leveraged buy-out in 1986 that forced it to seek protection under Chapter 11 of the federal Bankruptcy Code
+1	However , the group is offering to pay off bondholders in cash only -- $ 260.5 million -- and no equity	The Revco bonds are high-yield , high-risk `` junk '' bonds ; holders have $ 750 million in claims against Revco , Mr. Schulte said
+8	The Revco bonds are high-yield , high-risk `` junk '' bonds	holders have $ 750 million in claims against Revco
+1	the nation 's second-largest drugstore chain was a valuable company , despite its financial woes	Its problem is that management paid too much in the leveraged buy-out and the current $ 515 million debt load is keeping Revco in the red
+8	and demographics are helping pharmacies	The nation 's aging population will boost demand for prescription drugs
+5	Last week , Revco 's parent company , Anac Holding Corp. , said the company reported a loss of $ 16.2 million for the fiscal first quarter , compared with a loss of $ 27.9 million in the year-earlier quarter	Sales were $ 597.8 million , up 2.4 % from the previous year
+5	The offer consists of $ 410.5 million in cash and the rest in notes	Acadia would sell up to 10 % of the equity in the reorganized company to creditors and bondholders in exchange for the cash distribution , but creditors and bondholders would receive no discount for their shares
+8	Revco was dragging its feet in responding to the proposal	They want to pretend it does n't exist
+8	It 's certainly a responsible offer	It 's not an effort to steal the company '' in the middle of the night
+4	Copper futures prices failed to extend Friday 's rally	Declines came because of concern that demand for copper may slow down
+8	Also , the premiums paid by the U.S. government on a purchase of copper for the U.S. Mint were lower than expected , and acted as a price depressant	The mint purchases were at premiums about 4 1/2 cents a pound above the respective prices for the copper.At the time merchants were asking for premiums of about five cents a pound
+1	The mint purchases were at premiums about 4 1/2 cents a pound above the respective prices for the copper	At the time merchants were asking for premiums of about five cents a pound
+5	All this has led to prolonged selling in futures , mostly on the part of computer-guided funds	Prices fell through levels regarded as important support areas , which added to the selling
+2	The reluctance of traders to buy contracts indicates that they have begun focusing on demand rather than supply	that as production improves , the concern among traders is whether the prospective increased supply will find buyers because of uncertainty over national economies
+0	Japan normally depends heavily on the Highland Valley and Cananea mines as well as the Bougainville mine in Papua New Guinea	Recently , Japan has been buying copper elsewhere
+5	But as Highland Valley and Cananea begin operating , they are expected to resume their roles as Japan 's suppliers	According to Fred Demler , metals economist for Drexel Burnham Lambert , New York , `` Highland Valley has already started operating and Cananea is expected to do so soon
+5	It has n't been operating since May 15 because of attacks by native landowners	A recent attempt to resume operations was cut short quickly by these attacks
+5	According to Drexel 's Mr. Demler , the potential strike is expected to be resolved quickly , which may be one reason why the situation did n't affect prices much	that , if there was any concern , it was that a strike could encourage other walkouts in Chile
+1	that stocks of copper in U.S. producers ' hands at the end of September were down 16,000 metric tons from August to 30,000 tons	Outside the U.S. producer stocks at the end of August were 273,000 tons , down 3,000 tons from the end of July
+1	and stocks of copper held by consumers and merchants outside of the U.S. at the end of July stood at 123,000 tons , down from 125,000 tons in June	The high point of foreigners ' copper stocks this year was 136,000 tons at the end of April , according to Mr. Demler
+5	The prices of most corn , soybean and wheat futures contracts dropped slightly as farmers in the Midwest continued to rebuild stockpiles that were depleted by the 1988 drought	Buying by the Soviets has helped to prop up corn prices in recent weeks , but a lack of any new purchases kept prices in the doldrums
+8	Futures prices rose slightly in a market filled with rumors that a new international coffee agreement might still be achieved	The December contract ended with a gain of 1.29 cents a pound at 74.35 cents
+8	that Brazil and Colombia had agreed to a reduction in their coffee export quotas for the sake of creating a new agreement	Brazil would give up 500,000 bags of its quota and Colombia 200,000 bags
+1	The reports said Brazil would give up 500,000 bags of its quota and Colombia 200,000 bags	These reports were later denied by a high Brazilian official
+1	who said Brazil was n't involved in any coffee discussions on quotas	The Colombian minister to have referred to a letter that he said President Bush sent to Colombian President Virgilio Barco , and in which President Bush said it was possible to overcome obstacles to a new agreement
+6	Futures prices showed modest changes in light trading volume	December delivery gold eased 40 cents an ounce to $ 380.80
+7	December delivery gold eased 40 cents an ounce to $ 380.80	December silver was off 3.7 cents an ounce at $ 5.2830
+7	December delivery gold eased 40 cents an ounce to $ 380.80.December silver was off 3.7 cents an ounce at $ 5.2830	January platinum rose 90 cents an ounce at $ 500.20
+8	The market turned quiet after rising sharply late last week , according to one analyst	Last week 's uncertainty in the stock market and a weaker dollar triggered a flight to safety but yesterday the market lacked such stimuli
+4	Last week 's uncertainty in the stock market and a weaker dollar triggered a flight to safety but yesterday the market lacked such stimuli	There was some profit-taking because prices for all the precious metals had risen to levels at which there was resistance to further advance
+8	When the Supreme Soviet passed laws on workers ' rights in May 1987 and on self-managing cooperatives a year later , some Western observers assumed Mikhail Gorbachev had launched the Soviet Union on a course that would lead inevitably to the creation of a market economy	Their only doubt concerned the possibility that Mr. Gorbachev might not survive the opposition that his reforms would arouse and that the whole process might be reversed
+6	For example , while the laws on individual labor activity allow a citizen to earn a living independent of the state , strict provisions are attached on how far this may lead to the development of a free market	Before becoming self-employed , or setting up a cooperative , workers must seek permission from the local soviet ( council
+0	Before becoming self-employed , or setting up a cooperative , workers must seek permission from the local soviet ( council	Permission is far from automatic
+2	Permission is far from automatic	The soviets have the legal right to turn down applications and impose conditions , and they appear to be exercising these powers
+1	Private dressmaking , for example , is allowed in 10 Soviet republics but banned by five	shoemaking is allowed in seven but illegal in nine
+5	All independent media activity is now illegal , which perhaps is not surprising , but so is the manufacture of perfume , cosmetics , household chemicals and sand candles	Medical cooperatives , among the most successful in the U.S.S.R. , are banned from providing general-practitioner services ( their main source of income ) , carrying out surgery , and treating cancer patients , drug addicts and pregnant women
+5	The first enables the soviets to set prices for which goods may be sold	the second bans cooperatives from buying `` industrial and food goods '' from the state or other cooperatives
+2	Along with some other revealing indicators , these developments suggest that while Mr. Gorbachev wishes to move away from some rigid central controls , he is bent on creating economic structures of a kind that would scarcely find favor with the Austrian or Chicago schools of economic thought	Mr. Gorbachev has ruled out the use of the market to solve the problem of insufficient consumer goods
+8	Mr. Gorbachev has ruled out the use of the market to solve the problem of insufficient consumer goods	He told the Congress of People 's Deputies on May 30 : `` We do not share this approach , since it would immediately destroy the social situation and disrupt all the processes in the country
+5	that would combine the discipline and controls of the former with the economic benefits of the latter	Most important , this would leave the party intact and its monopoly of political power largely undisturbed
+8	The emergence of Russian corporatism had been anticipated in journalist George Urban 's introduction to a series of colloquies -- `` Can the Soviet System Survive Reform ? '' -- published this spring	Communism will reach its final stage of development in a feckless Russo -- corporation-socialist in form , nationalistic in content and Oriental in style -- that will puzzle the world with alternating feats of realism and recklessness
+8	The fascist concept of corporatism envisaged an `` organic '' society in which citizens were spiritually and morally unified , and prepared to sacrifice themselves for the nation	This unification was to be brought about through policies and institutions that would unite workers and employers with government in a fully integrated and `` harmonic '' society
+5	This unification was to be brought about through policies and institutions that would unite workers and employers with government in a fully integrated and `` harmonic '' society	The key to the creation of the `` organic '' state lay in the formation of `` natural '' groups that would undertake the role of decision-making
+2	The closeness of Soviet perestroika to the fascist social blueprint of Mussolini was evident when Mr. Gorbachev presented his economic vision to the Soviet Congress	In doing so , he neither rejected a socialist planned economy nor embraced the free market
+2	Mr. Gorbachev is in a much stronger position to pursue the corporatist ideal than was Mussolini	The Soviet Communist Party has the power to shape corporate development and mold it into a body dependent upon it
+2	At the same time , he must give it sufficient freedom to provide the economic benefits so desperately needed	It is the promise of economic returns that is supposed to make the corporatist model attractive to both the party and labor
+2	At the same time , the strategy requires that he deal effectively with those who seek genuine Western-style political pluralism	The most important development in Mr. Gorbachev 's policy for marginalizing the opposition movement is the claim that the U.S.S.R. also suffers from terrorism
+8	The most important development in Mr. Gorbachev 's policy for marginalizing the opposition movement is the claim that the U.S.S.R. also suffers from terrorism	An increasing number of references by the Soviet press to opposition groups now active in the U.S.S.R. , particularly the Democratic Union , allege that they show `` terroristic tendencies
+2	An increasing number of references by the Soviet press to opposition groups now active in the U.S.S.R. , particularly the Democratic Union , allege that they show `` terroristic tendencies '' and claim that they would be prepared to kill in order to achieve their aims	It is possible that , in perpetuating such myths , the ground is being laid for the arrest of opposition activists on the ground of terrorism
+2	Mr. Gorbachev would appear to see his central task , however , as that of ensuring that foundations of an alliance among labor , capital and the state are properly laid before the demands for a multiparty system reach a crescendo	If he were able to construct a popular and efficient corporatist system , he or his heir would be wellplaced to rein in political opposition , and to re-establish control in Eastern Europe
+2	The weaknesses in his plan do not lie in the political calculations but in its economic prescription	Contrary to widespread belief , Mussolini failed to live up to his promise to make the trains run on time
+5	Contrary to widespread belief , Mussolini failed to live up to his promise to make the trains run on time	it is doubtful whether Soviet-style corporatism will make Soviet trains run on time , or fill the shops with goods that the consumers so desperately crave
+8	Through the first nine months of the year , the unadjusted total of all new construction was $ 199.6 billion , flat compared with a year earlier	The South was off 2 % after the first nine months , while the North Central region was up 3 %
+5	The South was off 2 % after the first nine months , while the North Central region was up 3 %	The Northeast and West regions were unchanged
+1	The South was off 2 % after the first nine months , while the North Central region was up 3 %	The Northeast and West regions were unchanged
+8	At the end of the third quarter , there was still no evidence of renewed home building in response to the midyear decline of mortgage rates	Housing has been weak all year and especially so in the past five months
+8	Contracting for non-residential buildings rose 10 % in September to an annualized $ 100.8 billion	Commercial and industrial construction rose sharply , partly because of three large projects , each expected to cost more than $ 100 million
+1	Commercial and industrial construction rose sharply , partly because of three large projects , each expected to cost more than $ 100 million	Institutional building , such as hospitals and schools , eased in September following a surge in August
+2	it downgraded Financiere Credit Suisse-First Boston 's senior and subordinated Swiss debt to single-A-2 from single-A-1 and lowered Financiere CSFB N.V. 's junior subordinated perpetual Eurodebt , guaranteed by Financiere Credit Suisse -- First Boston , to single-A-3 from single-A-2	About $ 550 million of long-term debt is affected , according to Moody 's
+5	We remain committed to a full range of businesses , including merchant banking	We think that the ratings revision is unfortunate but not unexpected
+5	We remain committed to a full range of businesses , including merchant banking.We think that the ratings revision is unfortunate but not unexpected	Our commitment to manage these businesses profitably will continue
+2	First Boston 's merchant banking risks mounted last month as highly leveraged Campeau Corp. , First Boston 's most lucrative client of the decade , was hit by a cash squeeze and the high-risk junk bond market tumbled	First Boston incurred millions of dollars of losses on Campeau securities it owned as well as on special securities it could n't sell
+5	First Boston incurred millions of dollars of losses on Campeau securities it owned as well as on special securities it could n't sell	First Boston financings for several other highly leveraged clients , including Ohio Mattress , unraveled as the high-risk junk bond market plummeted
+8	its rating changes actions `` reflect CS First Boston 's aggressive merchant banking risk as well as the risk profile of its current merchant banking exposures	CS First Boston `` has consistently been one of the most aggressive firms in merchant banking '' and that `` a very significant portion '' of the firm 's profit in recent years has come from merchant banking-related business
+5	These two exposures alone represent a very substantial portion of CS First Boston 's equity	Total merchant banking exposures are in excess of the firm 's equity
+6	Independent providers of financial information , including Quotron , have been under some pressure as the major securities houses try to regain their hold on the production of market data and on the related revenue	Shearson , Goldman , Sachs & Co. , Morgan Stanley & Co. and Salomon Inc. are discussing formation of a group to sell securities-price data
+5	The job cuts , to be made in a number of areas at various job levels , are `` a streamlining of operations	The company has no immediate plans to close any operations
+9	The sweep by the A 's , whose pitchers and home-run hitters dominated the injury-prone Giants , will only make things worse for ABC , owned by Capital Cities/ABC Inc	The network had been expected to have losses of as much as $ 20 million on baseball this year
+2	It is n't clear how much those losses may widen because of the short Series	Had the contest gone a full seven games , ABC could have reaped an extra $ 10 million in ad sales on the seventh game alone , compared with the ad take it would have received for regular prime-time shows
+8	ABC , in anticipation of a four-game sweep , limited its losses by jacking up the number of commercials it aired in the third and fourth games	A World Series telecast typically carries 56 30-second commercials , but by the fourth game ABC was cramming in 60 to 62 ads to generate extra revenue
+1	The Series typically is among the highest-rated sports events on television	Last year 's series , broadcast by General Electric Co. 's NBC , was the lowest-rated Series in four years
+2	Last year 's series , broadcast by General Electric Co. 's NBC , was the lowest-rated Series in four years	instead of featuring a major East Coast team against a West Coast team , it pitted the Los Angeles Dodgers against the losing Oakland A 's
+2	ABC 's hurdle was even higher this year with two teams from the same area	The Series got off to a lukewarm start Oct. 14 with a 16.2 % rating
+9	The Series got off to a lukewarm start Oct. 14 with a 16.2 % rating	the next night it drew 17.4 % of homes
+1	the next night it drew 17.4 % of homes	Then came the earthquake and a damaging delay of 11 days
+5	Some people had hoped ABC 's ratings would go up because of the intense focus on the event in the aftermath of the earthquake	An analyst 's opinion to that effect even sent Capital Cities/ABC shares soaring two weeks ago
+6	But interest instead decreased	The third game , last Friday night , drew a disappointing 17.5 rating
+5	The Dow Jones Industrial Average gained 6.76 points to 2603.48 in light trading after losing more than 92 points last week	Bond prices continued to edge higher in anticipation of more news showing a slower economy
+5	Bond prices continued to edge higher in anticipation of more news showing a slower economy	Although the dollar rose slightly against most major currencies , the focus in currency markets was on the beleaguered British pound , which gained slightly against the dollar
+6	as major brokerage firms continued to throw in the towel on program trading	Kidder Peabody became the most recent firm to swear off stock-index arbitrage trading for its own account , and Merrill Lynch late yesterday took the major step of renouncing the trading strategy even for its clients
+8	Yet that did n't eliminate program trading from the market	The Dow industrials shot up 23 points in the opening hour , at least in part because of buy programs generated by stock-index arbitrage
+5	The first is Wednesday 's survey of purchasing managers	The other is Friday 's measure of October employment
+8	The first is Wednesday 's survey of purchasing managers , considered a good indicator of how the nation 's manufacturing sector fared in October.The other is Friday 's measure of October employment , an indicator of the broader economy 's health	Both are expected to show continued sluggishness , which would be good for bonds and bad for stocks
+6	Bond prices crept higher	The Treasury 's benchmark 30-year bond gained about an eighth of a point , or about $ 1.25 for each $ 1,000 face amount
+5	The Treasury 's benchmark 30-year bond gained about an eighth of a point , or about $ 1.25 for each $ 1,000 face amount	The yield on the issue slipped to 7.92 %
+8	The dollar gained	In late New York trading the dollar was quoted at 1.8340 marks and 141.90 yen , compared with 1.8300 marks and 141.65 yen Friday
+5	In late New York trading the dollar was quoted at 1.8340 marks and 141.90 yen , compared with 1.8300 marks and 141.65 yen Friday	The British pound , pressured by last week 's resignations of key Thatcher administration officials , nevertheless rose Monday to $ 1.5820 from Friday 's $ 1.5795
+2	Japanese corporations ' reputation as hi-tech powerhouses is only half right	Their factories may look like sets for a Spielberg movie , but their offices , with rows of clerks hunched over ledgers and abacuses , are more like scenes from a Dickens novel
+6	Now , the personal-computer revolution is finally reaching Japan	Kawasaki-Rikuso , a freight company , set up its own software subsidiary this year and is spending nearly a year 's profit to more than double the computer terminals at its main office
+5	Kawasaki-Rikuso , a freight company , set up its own software subsidiary this year and is spending nearly a year 's profit to more than double the computer terminals at its main office	In April , the Long-Term Credit Bank linked its computers in Tokyo with its three American offices
+5	Overall , PC sales in Japan in the first half of 1989 were 34 % higher than in the year-earlier period	Combined PC and work-station use in Japan will jump as much as 25 % annually over the next five years , according to some analysts , compared with about 10 % in the U.S
+2	And with a labor shortage and intense competitive pressure to improve efficiency , more and more Japanese companies are concluding that they have no choice	We have too many people in our home offices
+2	We have too many people in our home offices	Productivity in Japanese offices is relatively low
+6	But it also offers opportunities	Americans are well poised to supply the weapons
+0	Americans are well poised to supply the weapons	Japan may be a tough market for outsiders to penetrate , and the U.S. is hopelessly behind Japan in certain technologies
+6	After years of talking about selling in Japan , more and more U.S. companies are seriously pouring in	Apple Computer Inc. has doubled its staff here over the past year
+7	Apple Computer Inc. has doubled its staff here over the past year	Lotus Development Corp. has slashed the lag between U.S. and Japan product introductions to six months from three years
+7	Apple Computer Inc. has doubled its staff here over the past year.Lotus Development Corp. has slashed the lag between U.S. and Japan product introductions to six months from three years	Ungermann-Bass Inc. has a bigger share of the computer-network market in Japan than at home
+6	But the Japanese have to go a long way to catch up	Typical is one office of the Ministry of International Trade and Industry 's Machinery and Information Industries Bureau -- the main bureaucracy overseeing the computer industry . `` Personal Computer '' yearbooks are lined up on nearly every desk , and dog-eared copies of Nikkei Computer crowd magazine racks.But amid the two dozen bureaucrats and secretaries sits only one real-life PC
+8	Typical is one office of the Ministry of International Trade and Industry 's Machinery and Information Industries Bureau -- the main bureaucracy overseeing the computer industry	Personal Computer '' yearbooks are lined up on nearly every desk , and dog-eared copies of Nikkei Computer crowd magazine racks
+5	While American PC sales have averaged roughly 25 % annual growth since 1984 and West European sales a whopping 40 % , Japanese sales were flat for most of that time	Japanese office workers use PCs at half the rate of their European counterparts and one-third that of the Americans
+2	Moreover , Japanese offices tend to use computers less efficiently than American offices do	In the U.S. , PCs commonly perform many tasks and plug into a broad network.In Japan , many desktop terminals are limited to one function and ca n't communicate with other machines
+1	In the U.S. , PCs commonly perform many tasks and plug into a broad network	In Japan , many desktop terminals are limited to one function and ca n't communicate with other machines
+4	But the machines are n't on employees ' desks	they ring the perimeter of the large office
+5	Some machines make charts for presentations	Others analyze the data
+5	To transfer information from one to the other , employees make printouts and enter the data manually	To transmit charts to branch offices , they use a fax machine
+1	Some machines make charts for presentations.Others analyze the data.To transfer information from one to the other , employees make printouts and enter the data manually.To transmit charts to branch offices , they use a fax machine.Meanwhile , a woman sitting next to a new Fujitsu terminal writes stock-market information on a chart with a pencil and adds it up with a hand calculator	In an efficient setup , the same PC could perform all those tasks
+1	In the U.S. , more than half the PC software sold is either for spreadsheets or for database analysis , according to Lotus	In Japan , those functions account for only about a third of the software market
+5	In the U.S. , more than half the PC software sold is either for spreadsheets or for database analysis , according to Lotus.In Japan , those functions account for only about a third of the software market	Machines dedicated solely to word processing , which have all but disappeared in the U.S. , are still more common in Japan than PCs
+5	Machines dedicated solely to word processing , which have all but disappeared in the U.S. , are still more common in Japan than PCs	In the U.S. , one-fifth of the office PCs are hooked up to some sort of network.In Japan , about 1 % are linked
+1	In the U.S. , one-fifth of the office PCs are hooked up to some sort of network	In Japan , about 1 % are linked
+1	Computers here are used for data gathering	Some Japanese operations , such as securities-trading rooms , may be ahead of their American counterparts but `` basically , there 's little analysis done on computers in Japan
+5	but `` basically , there 's little analysis done on computers in Japan	Of course , simply buying computers does n't always solve problems , and many American companies have erred by purchasing technology they did n't understand
+2	But healthy skepticism is only a small reason for Japan 's PC lag	Various cultural and economic forces have suppressed demand
+8	But healthy skepticism is only a small reason for Japan 's PC lag	Various cultural and economic forces have suppressed demand
+6	and so `` keyboard allergy , '' especially among older workers , remains a common affliction	I have no experience before with such sophisticated machinery , '' says Matsuo Toshimitsu , a 66-year-old executive vice president of Japan Air Lines
+5	Japanese `` salarymen '' usually share large , common tables and rely heavily on old-fashioned personal contact	Top Japanese executives often make decisions based on consensus and personal relationships rather than complex financial projections and fancy presentations
+0	Besides , a computer processing the Japanese language needs a huge memory and much processing capability , while the screen and printer need far better definition to depict accurately the intricate symbols	Until recently , much of the necessary technology has been unavailable or at least unaffordable
+1	But the complex language is n't the only reason	For the past decade , NEC Corp. has owned more than half the Japanese PC market and ruled it with near-monopoly power
+2	For the past decade , NEC Corp. has owned more than half the Japanese PC market and ruled it with near-monopoly power	With little competition , the computer industry here is inefficient
+2	But early on , IBM offered its basic design to anybody wanting to copy it	Dozens of small companies did , swiftly establishing a standard operating system
+5	If a record industry lacked a common standard , Sony CD owners could listen to a Sony version of Madonna 's `` Like a Prayer '' but not one made for a Panasonic player	That is the state of Japan 's computer industry
+6	That is the state of Japan 's computer industry	NEC wo n't release its code , and every one of the dozen or so makers has its own proprietary operating system -- all incompatible with each other
+2	NEC wo n't release its code , and every one of the dozen or so makers has its own proprietary operating system	but NEC was ahead from the start and did n't need to invite in competitive allies
+8	Corporate pride as well as the close ties common among Japanese manufacturers help explain why	Most rivals `` have a working relationship with NEC , often through cross-licensing of technology
+2	Most rivals `` have a working relationship with NEC , often through cross-licensing of technology	They hesitate to market NEC-compatible machines
+2	They hesitate to market NEC-compatible machines	NEC disapproves of such machines , and marketing one would jeopardize their relationship
+6	The result , according to many analysts , is higher prices and less innovation	While tens of thousands of software packages using the IBM standard are available in the U.S. only about 8,000 are written for NEC
+5	While tens of thousands of software packages using the IBM standard are available in the U.S. , they say only about 8,000 are written for NEC	A year ago , Japan 's Fair Trade Commission warned NEC about possible violations of anti-monopoly laws for discouraging retailers from discounting
+2	because NEC is enjoying a monopoly	There are no price wars , no competition
+1	There are no price wars , no competition	that prices are higher in Japan because customers put a greater emphasis on quality and service than they do in the U.S
+1	An NEC spokeswoman responds that prices are higher in Japan because customers put a greater emphasis on quality and service than they do in the U.S	She adds that some technological advances trail those in the U.S. because the Japanese still import basic operating systems from American companies
+2	But the market is changing	The government is funding several projects to push PC use
+8	But the market is changing	The government is funding several projects to push PC use
+2	The government is funding several projects to push PC use	Over the next three years , public schools will get 1.5 million PCs , a 15-fold increase from current levels
+6	The government is funding several projects to push PC use	Over the next three years , public schools will get 1.5 million PCs , a 15-fold increase from current levels
+6	In the private sector , practically every major company is setting explicit goals to increase employees ' exposure to computers	Toyota Motor Corp. 's sales offices in Japan have one-tenth the computers per employee that its own U.S. offices do ; over the next five years , it is aiming for rough parity
+1	Toyota Motor Corp. 's sales offices in Japan have one-tenth the computers per employee that its own U.S. offices do	over the next five years , it is aiming for rough parity
+5	Toyota Motor Corp. 's sales offices in Japan have one-tenth the computers per employee that its own U.S. offices do ; over the next five years , it is aiming for rough parity	Within a year , Kao Corp. , a major cosmetics company , plans to eliminate 1,000 clerical jobs by putting on a central computer network some work , such as credit reports , currently performed in 22 separate offices
+8	By increasing the number of PCs it uses from 66 to 1,000 , Omron Tateishi Electronics Co. , of Kyoto , hopes not only to make certain tasks easier but also to transform the way the company is run	Managers have long been those who supervise their subordinates so orders would be properly acted on But new managers will have to be creators and innovators . . . and for that purpose it is necessary to create an environment where information from both inside and outside the company can be reached easily , and also shared
+6	Meanwhile , more computer makers now are competing for the new business	Seiko Epson Corp. , a newcomer to the industry , fought off a legal challenge and started selling NEC clones last year
+9	Seiko Epson Corp. , a newcomer to the industry , fought off a legal challenge and started selling NEC clones last year	It has won about 15 % of the retail PC market
+5	Seiko Epson Corp. , a newcomer to the industry , fought off a legal challenge and started selling NEC clones last year.It has won about 15 % of the retail PC market	Sony Corp. , which temporarily dropped out of the PC business three years ago , started selling its work station in 1987 and quickly became the leading Japanese company in that market
+2	In a country where elbow room is scarce , laptop machines will take a large portion of the industry 's future growth	Toshiba Corp. busted open that sector this summer with a notebook-sized machine that retails for less than 200,000 yen
+5	Toshiba Corp. busted open that sector this summer with a notebook-sized machine that retails for less than 200,000 yen	Fujitsu Ltd. is lavishing the most expensive promotion campaign in its history for its sophisticated sound/graphics FM Towns machine
+6	Many of the companies are even dropping their traditional independence and trying to band together to create some sort of standard	Two years ago , most of the smaller makers joined under the Microsoft Corp. umbrella to adopt a version of the American IBM AT standard
+5	Two years ago , most of the smaller makers joined under the Microsoft Corp. umbrella to adopt a version of the American IBM AT standard	That has n't generated much sales , but this summer Microsoft rallied all the major NEC competitors to make their new machines compatible with the IBM OS/2 standard
+2	But it could also help American companies , which also are starting to try to open the market	As with many other goods , the American share of Japan 's PC market is far below that in the rest of the world
+8	As with many other goods , the American share of Japan 's PC market is far below that in the rest of the world	U.S. makers have under 10 % share , compared with half the market in Europe and 80 % at home
+2	Though no formal trade barriers exist , the Japanese computer industry is difficult for outsiders to enter	If it were an open market , we would have been in in 1983 or 1984
+5	If it were an open market , we would have been in in 1983 or 1984	His company , without any major effort , sells more machines in China than in Japan
+5	His company , without any major effort , sells more machines in China than in Japan	Although it has opened a New Zealand subsidiary , it is still only `` studying '' Japan , the only nation that has n't adopted IBM-oriented specifications
+2	But the Americans are also to blame	They long made little effort here
+6	They long made little effort here	IBM did n't introduce its first PC in Japan until five years after NEC did , and that was n't compatible even with the U.S. IBM standard
+5	IBM , though long a leader in the Japanese mainframe business , did n't introduce its first PC in Japan until five years after NEC did , and that was n't compatible even with the U.S. IBM standard	Apple did n't introduce a kanji machine -- one that handles the Chinese characters of written Japanese -- until three years after entering the market
+5	American companies charge too much	it is investigating Apple for allegedly discouraging retailers from discounting
+6	But the U.S. companies are redoubling their efforts	Apple recently hired its first Japanese president , luring away an official of Toshiba 's European operations , as well as a whole Japanese top-management team
+5	Apple recently hired its first Japanese president , luring away an official of Toshiba 's European operations , as well as a whole Japanese top-management team	Earlier this year , it introduced a much more powerful kanji operating system and a kanji laser printer
+5	Earlier this year , it introduced a much more powerful kanji operating system and a kanji laser printer	IBM just last year started selling its first machine that could run in both Japanese and English and that substantially enhances compatibility with its American products
+1	Earlier this year , it introduced a much more powerful kanji operating system and a kanji laser printer	IBM just last year started selling its first machine that could run in both Japanese and English and that substantially enhances compatibility with its American products
+2	From a reading of the somewhat scant English-language medical literature on RU-486 , the French abortion pill emerges as one of the creepiest concoctions around	This is not only because it kills the unborn , a job at which it actually is not outstandingly efficient , zapping only 50 % to 85 % of them depending on which study you read ( prostaglandin , taken in conjunction with the pill , boosts the rate to 95 % ) .By contrast , surgical abortion is 99 % effective . Abortion via the pill is far more of an ordeal than conventional surgical abortion.It is time-consuming ( the abortion part alone lasts three days , and the clinical part comprises a week 's worth of visits ) , bloody ( one woman in a Swedish trial required a transfusion , although for most it resembles a menstrual period , with bleeding lasting an average of 10 days ) , and painful ( many women require analgesic shots to ease them through ) .Nausea and vomiting are other common side effects . Timing is of the essence with RU-486.It is most effective taken about a week after a woman misses her menstrual period up through the seventh week of pregnancy , when it is markedly less effective.That is typically about a three-week window . So far , all the studies have concluded that RU-486 is `` safe . '' But `` safe , '' in the definition of Marie Bass of the Reproductive Health Technologies Project , means `` there 's been no evidence so far of mortality . '' No one has researched the long-term effects of RU-486 on a woman 's health or fertility . The drug seems to suppress ovulation for three to seven months after it is taken.Some women clearly have no trouble eventually conceiving again : The studies have reported repeaters in their programs.But there are no scientific data on this question . Rather ominously , rabbit studies reveal that RU-486 can cause birth defects , Lancet , the British medical journal , reported in 1987.However , Dr. Etienne-Emile Baulieu , the French physician who invented RU-486 , wrote in a Science magazine article last month that the rabbit-test results could not be duplicated in rats and monkeys.The drug has a three-dimensional structure similar to that of DES , the anti-miscarriage drug that has been linked to cervical and vaginal cancer in some of the daughters of the women who took it
+8	Abortion via the pill is far more of an ordeal than conventional surgical abortion	It is time-consuming ( the abortion part alone lasts three days , and the clinical part comprises a week 's worth of visits ) , bloody ( one woman in a Swedish trial required a transfusion , although for most it resembles a menstrual period , with bleeding lasting an average of 10 days ) , and painful ( many women require analgesic shots to ease them through
+8	Timing is of the essence with RU-486	It is most effective taken about a week after a woman misses her menstrual period up through the seventh week of pregnancy , when it is markedly less effective
+2	It is most effective taken about a week after a woman misses her menstrual period up through the seventh week of pregnancy	That is typically about a three-week window
+1	But `` safe , '' in the definition of Marie Bass of the Reproductive Health Technologies Project , means `` there 's been no evidence so far of mortality	No one has researched the long-term effects of RU-486 on a woman 's health or fertility
+1	The drug seems to suppress ovulation for three to seven months after it is taken	Some women clearly have no trouble eventually conceiving again
+2	that women on whom the drug proves ineffective not carry the pregnancy to term but undergo a surgical abortion	A risk of birth defects
+6	Some abortion advocates have been asking themselves this very question	RU-486 `` probably represents a technical advance in an area where none is needed , or at least not very much , '' said Phillip Stubblefield , president of the National Abortion Federation , at a reproductive health conference in 1986
+5	RU-486 `` probably represents a technical advance in an area where none is needed , or at least not very much , '' said Phillip Stubblefield , president of the National Abortion Federation , at a reproductive health conference in 1986	Many physicians have expressed concern over the heavy bleeding , which occurs even if the drug fails to induce an abortion
+6	In the year since the pill went on the French market , the National Organization for Women and its offshoot , former NOW President Eleanor Smeal 's Fund for a Feminist Majority , have been trying to browbeat the U.S. pharmaceutical industry into getting involved	Its scare-tactic prediction : the pill `` will be available in the U.S. , either legally or illegally , in no more than 2-5 years
+6	Following the feminist and population-control lead has been a generally bovine press	A June 1988 article in Mother Jones magazine is typical of the general level of media ignorance
+8	A June 1988 article in Mother Jones magazine is typical of the general level of media ignorance	For a woman whose period is late , using RU-486 means no waiting , no walking past picket lines at abortion clinics , and no feet up in stirrups for surgery , '' burbles health writer Laura Fraser
+8	For a woman whose period is late , using RU-486 means no waiting , no walking past picket lines at abortion clinics , and no feet up in stirrups for surgery , '' burbles health writer Laura Fraser . `` It also means she will never have to know whether she had actually been pregnant	Wrong on all counts , Miss Fraser
+5	RU-486 is being administered in France only under strict supervision in the presence of a doctor	Roussel reportedly has every pill marked and accounted for to make sure none slips into the black market
+2	she will learn , via a pelvic examination and ultrasound , not only that she is pregnant , but just how pregnant she is	No doctor who fears malpractice liability would likely expose a non-pregnant patient to the risk of hemorrhaging
+5	Furthermore , because timing is so critical with RU-486 , she will learn , via a pelvic examination and ultrasound , not only that she is pregnant , but just how pregnant she is.No doctor who fears malpractice liability would likely expose a non-pregnant patient to the risk of hemorrhaging	Many women may even see the dead embryo they have expelled , a sight the surgical-abortion industry typically spares them
+5	Many women may even see the dead embryo they have expelled , a sight the surgical-abortion industry typically spares them	At seven weeks , an embryo is about three-fourths of an inch long and recognizably human
+2	At the behest of pro-choice members of Congress , a four-year reauthorization bill for Title X federal family-planning assistance now contains a $ 10 million grant for `` development , evaluation and bringing to the marketplace of new improved contraceptive devices , drugs and methods	If this passes it would put the federal government into the contraceptive marketing business for the first time
+6	We do not know whether RU-486 will be as disastrous as some of the earlier fertility-control methods released to unblinking , uncritical cheers from educated people who should have known better	Remember the Dalkon Shield and the early birth-control pills
+5	Mrs. Allen is a senior editor of Insight magazine	This article is adapted from one in the October American Spectator
+5	More than half of the `` newly found '' net exports were from just a few service-sector categories	Some of the biggest service-industry exporters have yet to be fully included in our export statistics
+2	Nearly 10 years ago , representatives of service-sector companies worked out a plan with the Commerce Department to improve the data on service-sector exports	Both groups believed that tens of billions of dollars of service exports were not being counted as exports
+8	Over time , through benchmark surveys , the corrected data on service exports and imports have been gathered	The first three major areas of the service sector to be revamped were expenditures by foreign students in the U.S. ( net after expenditures by Americans studying abroad ) , some exports by professional firms ( a law firm billing a German client for services rendered in watching legislation in Washington is as much an export as shipment of an American jet engine ) , and improved data from travel and tourism
+8	These revised figures also may explain some of the recent strength of the dollar	The materially smaller trade deficit may have been already discounted in the market
+2	These revised figures also may explain some of the recent strength of the dollar	The materially smaller trade deficit may have been already discounted in the market
+2	Too early to tell , but a trade deficit that is significantly smaller than we imagined does suggest a review of our trade posture	It does not relieve the need for our market-opening efforts for both goods and services , but it does suggest that it is our exports of services , and not just borrowing , that is financing our imports of goods
+5	The buy-out group is also entitled to $ 16 million to repay a fund created by the pilots union for an employee stock ownership plan	In addition to the $ 8 million for Citicorp and Chase , Salomon Brothers is also owed $ 3 million for promising to make a $ 200 million bridge loan
+2	At the New York Stock Exchange , which has been buffeted by complaints from angry individual investors and the exchange 's own listed companies , Chairman John J. Phelan Jr. held an emergency meeting with senior partners of some of the Big Board 's 49 stock specialist firms	The specialists were `` livid '' about Mr. Phelan 's recent remarks that sophisticated computer-driven trading strategies are `` here to stay
+2	The specialists were `` livid '' about Mr. Phelan 's recent remarks that sophisticated computer-driven trading strategies are `` here to stay	Many investors blame program trading for wild swings in the stock market , including the 190-point plunge in the Dow Jones Industrial Average on Oct. 13
+1	We 're working the problem and looking at the issue and meeting with a broad number of customers and constituents to get their views and ideas on the issue	The program-trading outcry was taken to a new level when giant Contel Corp. said it and 20 or more of the Big Board 's listed companies are forming an unprecedented alliance to complain about the exchange 's role in program trading
+2	The decision by Merrill , the nation 's largest securities firm , represents the biggest retreat yet from program trading	Merrill has been the fourth-biggest stock-index arbitrage trader on the Big Board this year , executing an average of 18.1 million shares a month in such trades , or about one million shares a day
+1	Merrill 's move is one of the most sweeping program-trading pullbacks of recent days , because the big securities firm will no longer execute stock-index arbitrage trades for customers	Most Wall Street firms , in pulling back , have merely stopped such trading for their own accounts
+8	In stock-index arbitrage , traders buy and sell large amounts of stocks with offsetting trades in stock-index futures and options	The idea is to lock in profits from short-term swings in volatile markets
+5	Last Thursday , PaineWebber Group Inc. also said it would cease index arbitrage altogether , but the firm was n't as big an index arbitrager as Merrill is	Other large firms , including Bear , Stearns & Co. and Morgan Stanley & Co. , last week announced a pullback from index arbitrage , but only for the firms ' own accounts
+2	Kidder made an abrupt about-face on program trading yesterday	Just a week ago , Mr. Carpenter staunchly defended index arbitrage at Kidder , the most active index-arbitrage trading firm on the stock exchange this year
+8	Just a week ago , Mr. Carpenter staunchly defended index arbitrage at Kidder , the most active index-arbitrage trading firm on the stock exchange this year	Index arbitrage , Mr. Carpenter said last week , does n't have a `` negative impact on the market as a whole '' and Kidder 's customers were `` sophisticated '' enough to know that
+2	big institutional investors , which he would n't identify , `` told us they would n't do business with firms '' that continued to do index arbitrage for their own accounts	We were following the trend of our competitors who were under pressure from institutions
+1	Kidder so far this year has executed a monthly average of 37.8 million shares in index-arbitrage trading	Most of Kidder 's program trading is for its own account , according to the New York Stock Exchange
+1	Our decision had nothing to do with any pressure Mr. Welch received	This was a Kidder Peabody stand-alone decision
+5	Meanwhile , Bear Stearns Chairman and Chief Executive Alan C. Greenberg said his firm will continue stock-index arbitrage for its clients	At the firm 's annual meeting last night , he told shareholders that index arbitrage wo n't go away , despite the public outcry
+8	At the firm 's annual meeting last night , he told shareholders that index arbitrage wo n't go away , despite the public outcry	If they think they are going to stop index arbitrage by causing a few Wall Street firms to quit , they are crazy , '' Mr. Greenberg said
+2	If they think they are going to stop index arbitrage by causing a few Wall Street firms to quit , they are crazy	It 's not going to stop it at all
+1	And there was speculation yesterday that Fidelity Investments and other large mutual-fund companies might soon follow the lead of Kemper Corp. and other institutions in cutting off trading business to securities firms that do program trading	A Fidelity spokesman in Boston denied the speculation , saying the program-trading issue was more of a regulatory problem
+5	Michael J.C. Roth , USAA executive vice president , called program trading `` mindless	He said there is `` no valid investment reason '' for stock-index futures to exist
+8	A program-bashing move is clearly on	he had no time to work yesterday because he received so many phone calls , faxes and letters supporting his view that the Big Board has been turned into a `` gambling casino '' by program traders
+2	We are reaching the moment of truth '' on Wall Street	Wall Street } is beginning to realize -- as Shakespeare said -- the trouble is not in our stars , but in ourselves
+8	An ancient red-figured Greek kylix , or drinking cup , was recovered backstage at Sotheby 's this spring and has been returned to the Manhattan couple who lost it in a burglary three years ago	Robert Guy , an associate curator at the Princeton Art Museum , was previewing a June antiquities sale at the auction house when he recognized the kylix , which he , as a specialist in Attic pottery and a careful reader of the Stolen Art Alert in `` IFAR Reports , '' knew was stolen.The timing of his visit was fortuitous ; the man who had brought it in for an estimate had returned to collect it and was waiting in the hall.To confirm Mr . Guy 's identification , Sotheby 's and IFAR exchanged photos by fax , and the waiting man , apparently innocent of knowledge that the kylix was stolen , agreed to release it.The cup had been insured , and in short order it was given over to a Chubb & Son representative.The original owners happily repaid the claim and took their kylix home
+5	Robert Guy , an associate curator at the Princeton Art Museum , was previewing a June antiquities sale at the auction house when he recognized the kylix	The timing of his visit was fortuitous
+2	The timing of his visit was fortuitous	the man who had brought it in for an estimate had returned to collect it and was waiting in the hall
+9	the man who had brought it in for an estimate had returned to collect it and was waiting in the hall	To confirm Mr . Guy 's identification , Sotheby 's and IFAR exchanged photos by fax , and the waiting man , apparently innocent of knowledge that the kylix was stolen , agreed to release it
+9	To confirm Mr . Guy 's identification , Sotheby 's and IFAR exchanged photos by fax , and the waiting man , apparently innocent of knowledge that the kylix was stolen , agreed to release it	and in short order it was given over to a Chubb & Son representative
+2	The cup had been insured , and in short order it was given over to a Chubb & Son representative	The original owners happily repaid the claim and took their kylix home
+8	to stealing and selling original signed and dated comic strips , among them 29 Dick Tracy strips by Chester Gould , 77 Prince Valiant Sunday cartoons by Hal Foster , and a dozen Walt Disney animation celluloids , according to Barbara Hammond , the museum 's director	He sold them well below market value to raise cash `` to pay off mounting credit-card debts , '' incurred to buy presents for his girlfriend
+9	He sold them well below market value to raise cash `` to pay off mounting credit-card debts , '' incurred to buy presents for his girlfriend	The curator , 27-year-old Sherman Krisher of Greenwich , Conn. , had worked his way up from janitor in seven years at the museum
+2	But on Oct. 6 , he had reason to celebrate	Two days earlier , his attorney met in a Park Avenue law office with a cartoon dealer who expected to sell 44 of the most important stolen strips to Mr. Russell for $ 62,800.Instead , New York City police seized the stolen goods , and Mr. Krisher avoided jail
+4	and Mr. Krisher avoided jail	He was sentenced to 500 hours of community service and restitution to the museum of $ 45,000
+2	The air-waybill number was changed en route , and paper work showing that the crates had cleared customs was misplaced , so it was a week before three of the four crates could be located in a bonded warehouse and the Gauguin discovered missing	Although Heathrow authorities have been watching a group of allegedly crooked baggage handlers for some time , the Gauguin may be `` lost
+5	the Gauguin may be `` lost	It is not uncommon for property to be temporarily mislaid or misrouted
+9	Officials at the University of Virginia Art Museum certainly would agree	Their museum had purchased an Attic black-figured column krater and shipped it from London
+1	Their museum had purchased an Attic black-figured column krater and shipped it from London	It was reported stolen in transit en route to Washington , D.C. , in February
+0	It was reported stolen in transit en route to Washington , D.C. , in February	Months later , the Greek vase arrived in good condition at the museum in Charlottesville , having inexplicably traveled by a circuitous route through Nairobi
+10	Two Mexican college dropouts , not professional art thieves , have been arrested for a 1985 Christmas Eve burglary from the National Museum of Anthropology in Mexico City	About 140 Mayan , Aztec , Mixtec and Zapotec objects , including some of Mexico 's best-known archaeological treasures , were taken
+9	About 140 Mayan , Aztec , Mixtec and Zapotec objects , including some of Mexico 's best-known archaeological treasures , were taken	The government offered a reward for the return of the antiquities , but routine police work led to the recovery
+8	but routine police work led to the recovery	As it turned out , Carlos Perches Trevino and Ramon Sardina Garcia had hidden the haul in a closet in the Perches family 's home for a year.Then they took the art to Acapulco and began to trade some of it for cocaine.Information from an arrested drug trafficker led to the two men and the recovery of almost all the stolen art
+9	Then they took the art to Acapulco and began to trade some of it for cocaine	Information from an arrested drug trafficker led to the two men and the recovery of almost all the stolen art
+9	the Leipzig Museum of Fine Arts announced that it has recovered `` Cemetery in the Snow , '' a painting by the German Romantic painter Caspar David Friedrich	the U.S. State Department notified IFAR of the theft in February 1988
+0	The precious canvas , cut from its frame at the time of the theft , was found in nearby Jena , hidden in the upholstery of an easy chair in the home of the girlfriend of one of the thieves	No charges were brought against her
+8	Trompe l'oeil painting is meant to fool the eye , but Robert Lawrence Trotter , 35 , of Kennett Square , Pa. , took his fooling seriously	He painted one himself in the style of John Haberle and sold it as a 19th-century original to antique dealers in Woodbridge , Conn
+5	Mr. Trotter 's painting showed a wall of wood boards with painted ribbons tacked down in a rectangle	tucked behind the ribbons were envelopes , folded , faded and crumpled papers and currency
+9	The dealers immediately showed their new acquisition to an expert and came to see it as a fake	They persuaded Mr. Trotter to take it back and , with the help of the FBI , taped their conversation with him
+5	They persuaded Mr. Trotter to take it back and , with the help of the FBI , taped their conversation with him	After his arrest , the forger admitted to faking and selling other paintings up and down the Eastern seaboard
+0	As a result of the adhesive problem on the Ford Escort subcompacts , windshields may easily separate from the car during frontal impact	When properly applied , the adhesive is designed to retain the windshield in place in a crash test at 30 miles per hour
+1	the Dearborn , Mich. , auto maker is n't aware of any injuries caused by the windshield problem	owners should return the cars to dealers so the windshields can be removed and securely reinstalled
+0	a combination of limited crankcase ventilation and improper maintenance could cause engine oil in some of the Mercury Tracers and Mazda 323s to deteriorate more rapidly than normal , causing increased engine noise or reduced engine life	the problems are n't safety related
+1	Mazda will extend to five years or 60,000 miles the warranty term for engine damage due to abnormal engine oil deterioration	The normal term for the 1986 and 1987 model 323 is two years or 24,000 miles
+1	The normal term for the 1986 and 1987 model 323 is two years or 24,000 miles	the term for the 1988 323 is three years or 50,000 miles
+1	The normal term for the 1986 and 1987 model 323 is two years or 24,000 miles ; the term for the 1988 323 is three years or 50,000 miles	the term on its warranty is already six years or 60,000 miles
+5	it will offer $ 750 cash rebates to buyers of its 1990-model Ford Bronco sport utility vehicle	it will also offer buyers the option of financing as low as 6.9 % on 24-month loans
+5	it will also offer buyers the option of financing as low as 6.9 % on 24-month loans	Ford also offered the low financing rate option on 1989-model Broncos , which previously carried a $ 750 cash discount
+1	A few months later , under pressure from the United Steelworkers of America , LTV instituted a new program to provide retirement benefits similar to those in the terminated plans	Because the federal pension agency had taken over the old plans , LTV would be responsible only for benefits paid under the new pension plans
+2	The agency also concluded that LTV 's financial status had improved while it was under reorganization	In September 1987 , it ordered LTV to reassume liability and funding for the three original plans
+8	In May , a federal appeals court in New York agreed that the agency acted unlawfully	The appeals court said there was no evidence that Congress intended to allow the pension agency to consider a company 's creation of new benefit plans as a basis for ordering that company to reassume liability for old plans
+5	that it was disappointed that the court agreed to hear the case because the move will further delay its Chapter 11 proceedings	The company has n't been able to come up with a reorganization plan , in part , because of the sizable disagreement with the pension agency
+8	The commercial was absolutely silent	Breaking into the raucous Chicago Bears-Cleveland Browns match during last week 's Monday night football game , it was nothing but simple block letters superimposed on the TV screen
+9	Please contribute what you can , '' the ad said	The Nissan logo flashed on the screen for a moment
+2	The Nissan logo flashed on the screen for a moment , and then came a taped plea for donations from former President Reagan -- followed by the silent print telling viewers where to call	Within two hours , viewers pledged over $ 400,000 , according to a Red Cross executive
+5	Sometimes , the ads attempt to raise money	always , they try to boost good will
+8	always , they try to boost good will	By advertising disaster relief , these companies are hoping to don a white hat and come out a hero
+2	But the strategy can backfire	if the ads appear too self-serving , the companies may end up looking like rank opportunists instead of good Samaritans
+6	That has n't deterred plenty of companies	Along with Nissan , Grand Metropolitan PLC 's Burger King and New York Life Insurance have tied ads to Red Cross donations
+1	Along with Nissan , Grand Metropolitan PLC 's Burger King and New York Life Insurance have tied ads to Red Cross donations	Other ads do n't bother with the fundraising
+6	Other ads do n't bother with the fundraising	a touching , if self-congratulatory , American Telephone & Telegraph ad that aired Sunday intermixed footage of the devastation in San Francisco and Charleston , S.C. , with interviews of people recounting how AT & T helped
+2	At Nissan , `` we felt we wanted to do something to help them gather money , and we had this airtime on Monday Night Football	What did we get out of it
+8	The ads are just the latest evidence of how television advertising is getting faster on the draw	While TV commercials typically take weeks to produce , advertisers in the past couple of years have learned to turn on a dime , to crash out ads in days or even hours
+6	While TV commercials typically take weeks to produce , advertisers in the past couple of years have learned to turn on a dime , to crash out ads in days or even hours	The big brokerage houses learned the art of the instant commercial after the 1987 crash , when they turned out reassuring ads inviting investors right back into the stock market
+5	when they turned out reassuring ads inviting investors right back into the stock market	They trotted out another crop of instant commercials after the sudden market dip a few weeks ago
+5	They trotted out another crop of instant commercials after the sudden market dip a few weeks ago	Nissan created its quake ad in a weekend
+2	But as advertisers latch onto disasters with increasing frequency , they risk hurting themselves as much as helping the cause	They chance alienating the customers they hope to woo by looking like opportunistic sharks
+8	They chance alienating the customers they hope to woo by looking like opportunistic sharks	People see extra messages in advertising , and if a manufacturer is clearly trying to get something out of it . . . if it 's too transparent . . . then consumers will see through that
+2	It can backfire because companies can step across the line and go too far , be too pushy	The ultimate form of charity is when you do n't tell anyone
+2	that only a few of the quake-related campaigns have been `` tasteless '' and that `` the majority have been truly beneficial to the people who need the help	We do n't consider that ambulance chasing
+6	The companies running the disaster ads certainly do n't see themselves as ambulance chasers , either	Burger King 's chief executive officer , Barry Gibbons , stars in ads saying that the fast-food chain will donate 25 cents to the Red Cross for every purchase of a BK Doubles hamburger.The campaign , which started last week and runs through Nov. 23 , with funds earmarked for both the quake and Hugo , `` was Barry 's idea , '' a spokeswoman says . `` Barry felt very committed
+5	Burger King 's chief executive officer , Barry Gibbons , stars in ads saying that the fast-food chain will donate 25 cents to the Red Cross for every purchase of a BK Doubles hamburger	The campaign , which started last week and runs through Nov. 23 , with funds earmarked for both the quake and Hugo , `` was Barry 's idea
+8	The campaign , which started last week and runs through Nov. 23 , with funds earmarked for both the quake and Hugo , `` was Barry 's idea	Barry felt very committed
+8	Barry felt very committed	He felt we should be giving something back
+4	he wo n't be paying for it	The donations will come out of the chain 's national advertising fund , which is financed by the franchisees
+8	Toyota 's upscale Lexus division , a sponsor of the World Series , also put in a plug for Red Cross donations in a World Series game it sponsored	The World Series is brought to you by Lexus , who urges you to help relieve the suffering caused by the recent earthquake . . . , '' the game announcer said
+5	The Red Cross has been helping people for 125 years	New York Life has been doing the same for over 140 years
+2	It can be hoped that Spanish Prime Minister Felipe Gonzalez will draw the right conclusion from his narrow election victory Sunday	A strong challenge from the far left , the Communist coalition Izquierda Unida , failed to topple him
+2	A strong challenge from the far left , the Communist coalition Izquierda Unida , failed to topple him	He should consider his victory a mandate to continue his growth-oriented economic reforms and not a demand that he move further left
+5	He should consider his victory a mandate to continue his growth-oriented economic reforms and not a demand that he move further left	If he follows the correct path , he may be able to look back on this election as the high-water mark of far-left opposition
+2	The far left had some good issues even if it did not have good programs for dealing with them	It could point to plenty of ailments that the Spanish economic rejuvenation so far has failed to cure
+6	It could point to plenty of ailments that the Spanish economic rejuvenation so far has failed to cure	Unemployment still is officially recorded at 16.5 % , the highest rate in Europe
+5	Unemployment still is officially recorded at 16.5 % , the highest rate in Europe	Housing is scarce and public services -- the court system , schools , mail service , telephone network and the highways -- are in disgraceful condition
+5	Unemployment still is officially recorded at 16.5 % , the highest rate in Europe , although actual joblessness may be lower.Housing is scarce and public services -- the court system , schools , mail service , telephone network and the highways -- are in disgraceful condition	Large pockets of poverty still exist
+8	The left also is critical of the style of the Socialist government	Mr. Gonzalez and his colleagues , particularly the finance minister , Carlos Solchaga , are charged with having abandoned their socialist principles and with having become arrogant elitists who refuse even to go on television ( controlled by the state ) to face their accusers
+1	Mr. Gonzalez and his colleagues , particularly the finance minister , Carlos Solchaga , are charged with having abandoned their socialist principles and with having become arrogant elitists who refuse even to go on television ( controlled by the state ) to face their accusers	In response to this , the Socialist prime minister has simply cited his free-market accomplishments
+6	They are very considerable	Since 1986 , when Spain joined the European Community , its gross domestic product has grown at an annual average of 4.6 % -- the fastest in the EC
+7	Since 1986 , when Spain joined the European Community , its gross domestic product has grown at an annual average of 4.6 % -- the fastest in the EC	In that time more than 1.2 million jobs have been created and the official jobless rate has been pushed below 17 % from 21 %
+7	Since 1986 , when Spain joined the European Community , its gross domestic product has grown at an annual average of 4.6 % -- the fastest in the EC.In that time more than 1.2 million jobs have been created and the official jobless rate has been pushed below 17 % from 21 %	A 14 % inflation rate dropped below 5 %
+7	Since 1986 , when Spain joined the European Community , its gross domestic product has grown at an annual average of 4.6 % -- the fastest in the EC.In that time more than 1.2 million jobs have been created and the official jobless rate has been pushed below 17 % from 21 % .A 14 % inflation rate dropped below 5 %	Net foreign investment through August this year has been running at a pace of $ 12.5 billion , about double the year-earlier rate
+6	Mr. Gonzalez is not quite a closet supply-side revolutionary , however	He did not go as far as he could have in tax reductions
+2	Yet the best the far-left could do was not enough to deter the biggest voting bloc -- nearly 40 % -- from endorsing the direction Spain is taking	Now he can go further
+6	Now he can go further	He should do more to reduce tax rates on wealth and income , in recognition of the fact that those cuts yield higher , not lower , revenues
+5	He should do more to reduce tax rates on wealth and income	He could do more to cut public subsidies and transfers , thus making funds available for public services starved of money for six years
+8	The voters delivered Mr. Gonzalez a third mandate for his successes	They , as well as numerous Latin American and East European countries that hope to adopt elements of the Spanish model , are supporting the direction Spain is taking
+2	They , as well as numerous Latin American and East European countries that hope to adopt elements of the Spanish model , are supporting the direction Spain is taking	It would be sad for Mr. Gonzalez to abandon them to appease his foes
+2	Oh , that terrible Mr. Ortega	Just when American liberalism had pulled the arms plug on the Contras and their friend Ronald Reagan , along comes Mr. Ortega in Costa Rica this weekend to `` blunder '' into the hands of what are often called conservatives
+1	Conservatives are the faction in U.S. politics which always said that Mr. Ortega and his friends do n't want to hold an election in Nicaragua	Liberals are the faction that says , Give peace a chance
+0	Liberals are the faction that says , Give peace a chance	now they are saying Mr. Ortega should give them a break , lest the conservatives ask them to vote for bullets instead of bandages
+8	Daniel Ortega knows the difference between a blunder and a strategy	He knows that making George Bush look silly in a photograph with him will trigger Noriegan fulminations
+5	and that announcing an end to the liberals ' cease-fire will produce mainly their concern over the Contras ' military activities in northern Nicaragua	Mr. Ortega understands better than those who worry about his behavior that what sustains the Sandinista movement is not democratic peace , but nondemocratic unpeace
+8	that what sustains the Sandinista movement is not democratic peace , but nondemocratic unpeace	It is the presence of internal and external `` enemies '' which justifies the need for a large , active army that Mikhail Gorbachev 's Soviet Union continues to supply with bullets
+5	The biotechnology concern said Spanish authorities must still clear the price for the treatment , but that it expects to receive such approval by year end	Four other countries in Europe have approved Proleukin in recent months
+5	Four other countries in Europe have approved Proleukin in recent months	Cetus is currently trying to obtain federal regulatory clearance for U.S. distribution
+10	they were considering the new reporting requirements , and the expected publication of the proposal in the Federal Register today is the first official step toward creating final regulations	The Treasury is still working out the details with bank trade associations and the other government agencies that have a hand in fighting money laundering
+5	Among the possibilities the Treasury is considering are requirements that banks keep records identifying the originators and recipients of international wire transfers	Another suggestion would draw banks more directly into tracking down money launderers by developing a `` suspicious international wire transfer profile , '' which banks would use to spotlight questionable payments
+2	But wire transfers from a standing account -- including those bigger than $ 10,000 -- are n't reported	this has left a gaping loophole that illegal drug businesses are exploiting
+1	Yesterday the company said it had filed a request with the Securities and Exchange Commission to withdraw the registration statement regarding the proposed swap	A Western Union spokesman , citing adverse developments in the market for high-yield `` junk '' bonds , declined to say what alternatives are under consideration
+5	Despite some early computer-guided program buying , the Nasdaq composite fell 1.39 to 451.37	The OTC market now has declined in eight of the past 11 sessions
+5	The Nasdaq bank index fell 5.00 to 432.61 , while the insurance index fell 3.56 to 528.56 , and the `` other finance '' index dropped 3.27 to 529.32	The largest financial issues , as measured by the Nasdaq financial index , tumbled 3.23 to
+2	Profit-taking accounted for much of the slide in OTC stock prices , according to David Mills , senior vice president of Boston Company Advisers	many portfolio managers , whose year-end bonuses are tied to annual performance , are selling now rather than risk seeing their gains erode further
+2	Tax-loss sellers , those investors who sell loss-making stocks so they can deduct their losses from this year 's income , are also getting out	That 's helping put pressure on both the market 's winners and its losers
+5	The stocks that have been the best are having big pullbacks , and the ones that have been the worst are getting clobbered	He expects the market to sink further and to reach a low sometime next month or in December
+6	The selling by money managers and individual investors is turning traders bearish as well	We are advising a lot of our clients to make moves that make sense to them , rather than waiting until the last minute , because things have been so volatile , '' said William Sulya , head of OTC trading at A.G. Edwards & Sons in St. Louis
+5	We are advising a lot of our clients to make moves that make sense to them , rather than waiting until the last minute , because things have been so volatile , '' said William Sulya , head of OTC trading at A.G. Edwards & Sons in St. Louis	many market players are awaiting some resolution of the current debate over program trading
+5	Weisfield 's surged 14 to 53 after agreeing in principle to be acquired by a unit of Ratners Group for $ 50 a share	The stock jumped 9 1/2 Friday , when the company announced it was in takeover talks
+5	Mid-State Federal Savings Bank advanced 1 1/2 to 20 1/4 after it said it is in talks with a possible acquirer	The bank said the talks resulted from solicitations by its financial adviser
+2	Daimler-Benz joined the list of companies interested in the British car maker	it has had talks with Jaguar about possible joint ventures
+8	Meanwhile , General Motors and Ford Motor continue their pursuit of the company	Ford has acquired more than 13 % of Jaguar 's shares , and GM has received U.S. regulatory clearance to buy 15 %
+2	ShowBiz Pizza Time gained 1 1/2 to 13	The company reported third-quarter operating profit of 37 cents a share , compared with 12 cents a share a year earlier
+0	The company reported third-quarter operating profit of 37 cents a share , compared with 12 cents a share a year earlier	A third-quarter charge of $ 3.5 million related to planned restaurant closings resulted in a net loss for the quarter
+1	Employers Casualty , which reported a $ 53.9 million third-quarter loss late Friday , fell 2 1/4 to 13 3/4.The loss was largely due to a $ 55.2 million addition to reserves	Employers Casualty had a loss of $ 3.6 million in the year-earlier quarter
+2	Old Stone fell 1 5/8 to 13 1/2	Late Friday , the company reported a loss of $ 51.3 million for the third quarter after earning $ 9.2 million a year before
+1	The loss came after a $ 23.3 million addition to loan-loss reserves	The bank made a $ 4.5 million provision in the 1988 quarter
+1	That is for the future	Already , scientists are developing tests based on the newly identified genes that , for the first time , can predict whether an otherwise healthy individual is likely to get cancer
+2	It 's a super-exciting set of discoveries	Only a decade ago cancer was a black box about which we knew nothing at the molecular level
+1	Only a decade ago cancer was a black box about which we knew nothing at the molecular level	Today , we know that the accumulation of several of these altered genes can initiate a cancer and , then , propel it into a deadly state
+2	Scientists call the new class of genes tumor-suppressors , or simply anti-cancer genes	When functioning normally , they make proteins that hold a cell 's growth in check
+8	that oncogenes do n't cause cancer by themselves	the two types of cancer genes work in concert : An oncogene may turn proliferating cells malignant only after the tumor-suppressor gene has been damaged
+8	In recent months , researchers have come to believe the two types of cancer genes work in concert	An oncogene may turn proliferating cells malignant only after the tumor-suppressor gene has been damaged
+2	so for cancer to arise , both copies must be impaired	A person who is born with one defective copy of a suppressor gene , or in whom one copy is damaged early in life , is especially prone to cancer
+2	The Dedham , Mass. , couple knew even before Bonnie became pregnant in 1987 that any child of theirs had a 50 % chance of being at risk for retinoblastoma	he carried a damaged gene , having lost an eye to the rare tumor when he was only two months old
+2	that little Will Quinlan had not inherited a damaged retinoblastoma supressor gene and , therefore , faced no more risk than other children of developing the rare cancer	It made our New Year
+5	This test was the first to predict reliably whether an individual could expect to develop cancer	Equally important , the initial discovery of the gene that controls retinal cell growth , made by a Boston doctor named Thaddeus Dryja , has opened a field of cancer study , which in recent months has exploded
+8	Equally important , the initial discovery of the gene that controls retinal cell growth , made by a Boston doctor named Thaddeus Dryja , has opened a field of cancer study , which in recent months has exploded	It turns out that studying a tragic but uncommon tumor made possible some fundamental insights about the most basic workings of cancer
+5	It turns out that studying a tragic but uncommon tumor made possible some fundamental insights about the most basic workings of cancer	this basic research will begin showing results there soon
+9	To date , scientists have fingered two of these cancer-suppressors	Dr. Dryja made his retinoblastoma discovery in 1986
+2	the inactivation of tumor-suppressor genes , alone or in combination , appears crucial to the development of such scourges as cancer of the brain , the skin , kidney , prostate , and cervix	that if people inherit defective versions of these genes , they are especially prone to cancer , perhaps explaining , finally , why some cancers seem to haunt certain families
+5	The story of tumor-suppressor genes goes back to the 1970s , when a pediatrician named Alfred G. Knudson Jr. proposed that retinoblastoma stemmed from two separate genetic defects	He theorized that in the eye cancer , an infant inherited a damaged copy of a gene from one parent and a normal copy from the other
+9	that in the eye cancer , an infant inherited a damaged copy of a gene from one parent and a normal copy from the other	The tumor developed when the second , normal copy also was damaged
+8	Dr. Knudson found that some children with the eye cancer had inherited a damaged copy of chromosome No . 13 from a parent who had had the disease	Under a microscope he could actually see that a bit of chromosome 13 was missing
+2	Under a microscope he could actually see that a bit of chromosome 13 was missing	He assumed the missing piece contained a gene or genes whose loss had a critical role in setting off the cancer
+10	Then , a scientific team led by molecular geneticist Webster Cavenee , then at the University of Utah , found the answer	The team used a battery of the newly developed `` gene probes , '' snippets of genetic material that can track a gene 's presence in a cell
+2	The finding riveted medicine	It was the first time anyone had showed that the loss of both copies of the same gene could lead to the eruption of a cancer
+2	It was the first time anyone had showed that the loss of both copies of the same gene could lead to the eruption of a cancer	It was extraordinarily satisfying
+2	It was extraordinarily satisfying	I was convinced that what was true of retinoblastoma would be true for all cancers
+9	But in Baltimore , Dr. Vogelstein , a young molecular biologist at Johns Hopkins Medical School , believed Dr. Knudson was right , and set out to repeat the Cavenee experiment in cells from other cancers	His was one of two research teams in 1984 to report dual chromosome losses for a rare childhood cancer of the kidney called Wilm 's tumor
+2	Dr. Vogelstein next turned his attention to colon cancer , the second biggest cancer killer in the U.S. after lung cancer	He believed colon cancer might also arise from multiple `` hits '' on cancer suppressor genes , because it often seems to develop in stages
+8	He believed colon cancer might also arise from multiple `` hits '' on cancer suppressor genes , because it often seems to develop in stages	It often is preceded by the development of polyps in the bowel , which in some cases become increasingly malignant in identifiable stages
+0	They began uncovering a confusing variety of genetic deletions , some existing only in benign polyps , others in malignant cells and many in both polyps and malignant cells	Gradually , a coherent picture of cancer development emerged
+8	Gradually , a coherent picture of cancer development emerged	If both copies of a certain gene were knocked out , benign polyps would develop
+5	If both copies of a certain gene were knocked out , benign polyps would develop	If both copies of a second gene were then deleted , the polyps would progress to malignancy
+2	If both copies of a second gene were then deleted , the polyps would progress to malignancy	It was clear that more than one gene had to be damaged for colon cancer to develop
+2	Their report galvanized other molecular biologists	It was the confirming evidence we all needed that { gene } losses were critical to the development of a common tumor
+9	But Dr. Vogelstein had yet to nail the identity of the gene that , if damaged , flipped a colon cell into full-blown malignancy	They focused on chromosome 17
+2	They focused on chromosome 17	For months the Johns Hopkins researchers , using gene probes , experimentally crawled down the length of chromosome 17 , looking for the smallest common bit of genetic material lost in all tumor cells
+2	For months the Johns Hopkins researchers , using gene probes , experimentally crawled down the length of chromosome 17 , looking for the smallest common bit of genetic material lost in all tumor cells	Such a piece of DNA would probably constitute a gene
+5	that several years earlier a Princeton University researcher , Arnold Levine , had found in experiments with mice that a gene called p53 could transform normal cells into cancerous ones	The deletion Dr. Vogelstein found was in exactly the same spot as p53
+6	Evidence now is emerging that the p53 suppressor gene is involved in other cancers , too	Researchers in Edinburgh , Scotland , have found that in 23 of 38 breast tumors , one copy of chromosome 17 was mutated at the spot where gene p53 lies
+2	Researchers in Edinburgh , Scotland , have found that in 23 of 38 breast tumors , one copy of chromosome 17 was mutated at the spot where gene p53 lies	that since breast cancer often strikes multiple members of certain families , the gene , when inherited in a damaged form , may predispose women to the cancer
+8	The p53 gene has just been implicated in lung cancer	that about half the cells taken from lung cancer tissue they tested are missing this gene
+8	At the same time , the Johns Hopkins team and others are rushing to pinpoint other tumor-suppressor genes	Dr. Vogelstein hopes soon to isolate one on chromosome 18 , also involved in colon cancer
+7	Dr. Vogelstein hopes soon to isolate one on chromosome 18 , also involved in colon cancer	Ray White in Utah and Walter Bodmer , a researcher in Great Britain , are close to finding another gene involved with some types of colon cancer , thought to be on chromosome 5
+1	Where these discoveries will lead , scientists can only speculate	Already two major pharmaceutical companies , the Squibb unit of Bristol-Myers Squibb Co. and Hoffmann-La Roche Inc. , are collaborating with gene hunters to turn the anticipated cascade of discoveries into predictive tests and , maybe , new therapies
+8	new cancer drugs to slow or reverse tumor growth may be based on the suppressor proteins normally produced by the genes	The idea would be to administer to patients the growth-controlling proteins made by healthy versions of the damaged genes
+5	The idea would be to administer to patients the growth-controlling proteins made by healthy versions of the damaged genes	It may even be possible to replace defective genes with healthy versions , though no one has come close to doing that so far
+2	Known as Easy Eggs , the product has disappointed investors	When the company this month announced lower-than-forecast sales of Easy Eggs , the stock dropped nearly 19 %
+2	Michael wo n't confirm the identities of any Easy Egg customers , nor will it say much of anything else	Two Minneapolis shareholder suits in the past month have accused top officers of making `` various untrue statements
+8	Two Minneapolis shareholder suits in the past month have accused top officers of making `` various untrue statements	These federal-court suits accuse the officers of failing to disclose that Easy Eggs were unlikely to sell briskly enough to justify all of Michael 's production capacity
+5	that by year end it wo n't be using any shell eggs	The Miami fast-food chain , owned by Grand Metropolitan of Britain , expects to consume roughly 34 million pounds of liquefied eggs annually
+2	Still , caution is advisable	Michael 's break-even volume on Easy Eggs is around 60 million pounds a year -- apparently well above current shipments and a far cry from what the company once suggested was a billion-pound market waiting for such a product
+1	Other institutional users reportedly include Marriott , which is moving away from fresh eggs on a region-by-region basis	The extent of Marriott 's use is n't known , and Marriott officials could n't be reached for comment
+5	Michael Foods has attracted a good many short-sellers	Many analysts question management 's credibility
+1	The company did n't put out a public announcement	A spokesman said later that Mr. Olson was being `` conservative '' in his estimate
+2	the last remaining bull on the stock	that Michael Foods is misunderstood
+2	that Michael Foods is misunderstood	This is a growth company in the packaged food industry -- a rare breed , like finding a white rhino
+2	Prospective competition is one problem	Last week a closely held New Jersey concern , Papetti High-Grade Egg Products Co. , rolled out an aseptically packaged liquefied item called Table Ready
+8	Prospective competition is one problem	Last week a closely held New Jersey concern , Papetti High-Grade Egg Products Co. , rolled out an aseptically packaged liquefied item called Table Ready
+1	Michael shares closed at 13 3/4 yesterday in national over-the-counter trading	In my mind this is a $ 7 stock
+2	But dry growing conditions in the Red River Valley of Minnesota and North Dakota are pushing spot prices of potatoes beyond what Michael contracted to pay last spring	Company lawyers recently sent letters to growers saying that Michael `` would take very seriously any effort . . . to divert its contracted-for potatoes to other outlets
+2	Yesterday , Quebecor Inc. , a Montreal printing , publishing and forest-products company 53 % -owned by Mr. Peladeau , agreed to acquire Maxwell Communication Corp. 's U.S. printing subsidiary , Maxwell Graphics Inc. , for $ 500 million in cash and securities	The purchase will make Quebecor the second-largest commercial printer in North America , behind only R.R . Donnelley & Sons Co. , Chicago
+5	to build Quebecor through acquisitions into an integrated paper , publishing and printing concern with a reach throughout North America	He already has achieved vertical integration on a limited scale
+2	He already has achieved vertical integration on a limited scale	Quebecor can put a weekly newspaper on almost any Quebec doorstep without using outside help
+2	this is a great strategic move for Quebecor	They are buying an operation that is running well
+2	he is n't trying to catch up to Donnelley , which has annual sales of over $ 3 billion	Size does n't matter
+4	Size does n't matter	What counts is the bottom line
+6	Some of Mr. Peladeau 's ventures , including an earlier push into the U.S. market , have n't paid off on the bottom line	Quebecor started the Philadelphia Journal , a daily tabloid , in 1977 and closed it three years later.The venture cost Quebecor $ 12 million , Mr. Peladeau says
+5	Quebecor started the Philadelphia Journal , a daily tabloid , in 1977 and closed it three years later	The venture cost Quebecor $ 12 million
+2	More recently , some former Quebecor executives started their own printing company , specializing in printing and distributing advertising circulars	Quebecor still lags in the Quebec circulars market , while Mr. Peladeau 's former employees are expanding across Canada
+9	Mr. Peladeau took his first big gamble 25 years ago , when he took advantage of a strike at La Presse , then Montreal 's dominant French-language newspaper , to launch the Journal de Montreal	The tabloid 's circulation soared to 80,000
+2	Still , Mr. Peladeau stuck with the venture	Now the Journal , flush with ads and hugely profitable , is even with La Presse in weekend circulation and outsells it 3 to 2 every weekday
+4	Mr. Peladeau has never made any apologies for publishing the tabloid , a brash mix of crime and sports	I 've read Balzac , '' he answers critics
+5	I 've read Balzac	It 's tabloid news from A to Z
+5	Quebecor also publishes a second tabloid in Montreal , the struggling 18-month-old Montreal Daily News ; dailies in Quebec City and Winnipeg , Manitoba ; and dozens of weeklies covering most of Quebec	A series of recent acquisitions made it the dominant magazine publisher in Quebec
+5	The new , as yet unnamed , subsidiary will combine Quebecor 's existing printing unit and Maxwell Graphics	It will have 61 plants from coast to coast and $ 1.5 billion in annual sales
+5	Quebecor will own 57.5 % of the new subsidiary	Caisse de Depot et Placement , the Quebec government pension-fund agency , will pay $ 112.5 million for the remaining 22.5 % stake in the printing operation
+2	The Maxwell deal is Quebecor 's second big printing acquisition in just over a year	Last October , Quebecor bought 23 Canadian printing plants from BCE Inc. , a Montreal telecommunications , manufacturing , energy and real estate company
+5	In Montreal , Quebecor 's multiple voting Class A stock closed at C $ 16.375 ( US $ 13.94 ) , down 12.5 Canadian cents	Quebecor Class B stock closed at C $ 15.375 , up 62.5 Canadian cents
+8	The U.S . Equal Employment Opportunity Commission sued New York state for age discrimination against appointed state judges	The suit , filed in federal court in Manhattan , charges that New York 's mandatory retirement age of 76 violates federal law
+8	Separately , the commission intervened in a Connecticut state judge 's age-bias suit in federal court in New Haven	The commission 's filing in that case challenges Connecticut 's mandatory retirement age of 70 for appointed judges
+1	The issue is n't age -- age is just a number	The issue is one of a judge 's experience , his competence and his physical ability to serve on the bench
+2	The suit 's impact on New York may be narrow , however	Most New York judges are elected , and the federal age-discrimination law does n't apply to elected officials
+8	Most New York judges are elected , and the federal age-discrimination law does n't apply to elected officials	Under New York law , elected judges must retire at age 70 , but then can be appointed to two-year terms until they reach 76
+2	to abolish the units	the strike-force lawyers will work more efficiently under the supervision of U.S. attorneys
+5	Mr. Thornburgh 's plan will needlessly break up longtime , tightly knit crime-fighting units that have successfully prosecuted major organized-crime figures	that organized-crime activity will increase once the units are dissolved and their responsibilities transferred to U.S. attorneys ' offices
+6	the units have already begun to break up	The Eastern District unit in Brooklyn , N.Y. , lost seven of its 15 attorneys this year partly because the lawyers were troubled by the proposed reorganization
+8	there has been no exodus of strike-force lawyers	27 lawyers have left and 21 have been hired since Mr. Thornburgh announced his plan
+6	Some congressional leaders intend to continue to fight for independent strike forces	A spokesman for Sen. Edward M. Kennedy ( D. , Mass . ) says Mr. Thornburgh would be required to reinstate the units next year if an proposed omnibus crime bill is passed
+2	Mr. Thornburgh would be required to reinstate the units next year if an proposed omnibus crime bill is passed	Among other things , the bill calls for a reorganization of the Justice Department
+2	We will vigorously oppose the bill	( the reorganization is ) going to happen
+8	Shelly Hancock , a male county court judge in Houston , refused to let a woman plead guilty to a drunk-driving charge because her skirt stopped three inches above her knees	The woman appeared in court Thursday to enter her plea , but when she started to approach the bench , she was stopped by Judge Hancock.He told the woman 's lawyer , Victor Blaine , that the short skirt was inappropriate for a court appearance.Despite Mr. Blaine 's protests , the judge rescheduled her case for Nov. 27
+2	but when she started to approach the bench , she was stopped by Judge Hancock	that the short skirt was inappropriate for a court appearance
+9	He told the woman 's lawyer , Victor Blaine , that the short skirt was inappropriate for a court appearance	Despite Mr. Blaine 's protests , the judge rescheduled her case for Nov. 27
+5	Although settlement talks had been dropped , attorneys for the two sides apparently began talking again yesterday in an attempt to settle the matter before Thursday , when a judge is expected to rule on Warner 's request for an injunction that would block the two producers from taking over the management of Columbia	Yesterday , in documents filed in connection with that case , Warner accused Sony officials of falsely claiming that they never read the five-year contract requiring the two producers to make movies exclusively for Columbia , citing Securities and Exchange Commission filings made by Sony that described the contracts
+5	the Sony executives had n't seen the contract because `` it was n't relevant once Guber and Peters told them Warner would let them terminate it at any time	statements about the contract made in SEC filings were made by attorneys who did have access to the contracts but who were n't part of the negotiations between Sony and the duo
+2	Warner described as `` nonsense '' yesterday Sony 's assertions in prior court filings that Mr. Guber and Mr. Peters could in theory run Columbia while still fulfilling their contract to produce movies for Warner	Such a dual role would be `` impractical and unethical
+5	DPC , an investor group led by New York-based Crescott Investment Associates , had itself filed a suit in state court in Los Angeles seeking to nullify the agreement	Earlier this year , Dataproducts had rejected a $ 15 a share offer from DPC , saying it was n't adequately financed
+9	Earlier this year , Dataproducts had rejected a $ 15 a share offer from DPC , saying it was n't adequately financed	DPC last week launched a new , $ 10-a-share offer for the Woodland Hills , Calif.-based computer printer maker
+5	For the third quarter , net rose to $ 242 million , or $ 1.05 a share , from $ 144 million , or 63 cents a share	Sales climbed 71 % to $ 6.36 billion from $ 3.72 billion as the company capitalized on the ravenous global demand for commercial airliners
+8	Boeing had been counting on turning 96 aircraft out the door in the present period	That included 21 of the company 's 747-400 jumbo jets , its most successful product
+8	That 's the primary reason the company 's share price has held up so well when , in Mr. Smith 's words , `` most companies would have unraveled '' by now	In New York Stock Exchange composite trading , Boeing closed yesterday at $ 54.50 a share , off a scant 12.5 cents
+6	Still , Boeing went through its normal verbal gymnastics and played up the downside	In a statement , Chairman Frank Shrontz asserted that the company `` faces significant challenges and risks , '' on both its commercial and government contracts
+5	that spending on Pentagon programs is shrinking , and Boeing is either the prime contractor or a major supplier on many important military projects , including the B-2 Stealth bomber , the V-22 Osprey tilt-rotor aircraft and the Air Force 's next-generation tactical fighter	Because of cost overruns on fixed-price military work the company 's defense business will record `` a significant loss '' in 1989
+2	Moreover production-rate increases that have been implemented on the 737 , 747 , 757 and 767 programs have resulted in `` serious work force skill-dilution problems	Suppliers and subcontractors are experiencing heightened pressure to support delivery schedules
+6	And , of course , there 's the unsteady labor situation	Besides the Machinists pact , accords representing 30,000 of the company 's engineering and technical employees in the Puget Sound and Wichita , Kan. , areas expire in early December
+2	Also , a contract with the United Auto Workers at the company 's helicopter plant in Philadelphia expired Oct. 15	This contract , covering about 3,000 hourly production and maintenance workers , is being extended on a day-to-day basis
+0	The Machinists rejected a proposal featuring a 10 % base wage increase over the life of the three-year contract , plus bonuses of 8 % the first year and 3 % the second	On top of that , Boeing would make cost-of-living adjustments projected to be 5 % for each year of the contract
+1	The union , though , has called the offer `` insulting	The company reiterated yesterday that it 's willing to reconfigure the package , but not add to the substance of it
+5	For the nine months , Boeing 's net increased 36 % to $ 598 million , or $ 2.60 a share , from $ 440 million , or $ 1.92 a share	Sales soared 28 % to $ 15.43 billion from $ 12.09 billion
+5	The settlement relates to four contracts negotiated from 1982 to 1985 , prosecutors said	They added that the settlement is the culmination of a 2 1/2-year investigation into the company 's aluminum pricing practices in connection with KC-135s
+5	All along the company has said there was no grounds for criminal prosecution	That was borne out by the Justice Department 's decision '' to settle the case
+2	Foothills ' main rival to build a Mackenzie Delta pipeline is likely to be TransCanada PipeLines	The Toronto-based company , together with Tenneco Inc. of Houston , has had an incomplete proposal filed with Canadian regulators since 1984 that it is now updating
+2	Like Foothills , TransCanada 's Polar Gas consortium plans to build a pipeline directly south from the Mackenzie River delta in Canada 's western Arctic with an initial capacity to transport 1.2 billion cubic feet of gas daily	they expect a fierce battle to emerge between TransCanada , which has a monopoly on Canadian gas transportation east of Alberta , and Nova and Westcoast , which control the pipelines within and running west of Alberta , respectively
+2	This is virgin territory , unclaimed , and it 's going to be nasty	Neither is going to back down easily
+8	First , the price of natural gas will have to almost double	the company believes the project would be viable if gas prices reach US $ 3.25 a thousand cubic feet by 1995 , in current dollars , up from a current spot price of about US $ 1.50
+9	it plans to seek regulatory approval to build an alternative line , the Alaska Natural Gas Transportation System further north toward Alaska	If that option is favored by gas buyers and regulators it would build another smaller pipeline connecting Mackenzie Delta reserves to the Alaska mainline
+5	It 's also likely that regulators will try to forge some kind of consensus between the would-be pipeline builders before undertaking any hearings into rival projects	that producers would prefer to avoid hearings into competing proposals that would lengthen the regulatory review process and bog down development
+5	The decision reflects the Fed 's tougher stance on enforcing the Community Reinvestment Act , a federal law passed in 1977 to help low-income residents obtain loans	In recent years , unions and community groups have won big commitments from banks to make low-interest loans in certain neighborhoods by threatening to hold up proposed acquisitions with protests to the Fed about reinvestment act compliance
+8	During the summer , Legal Services Corp. , a Florida legal aid group , filed a petition with the Fed on behalf of residents in four Florida counties	The petition challenged First Union 's lending record in the state , saying that the bank-holding company had `` shut itself off from contact with the low-income community and is redlining almost every black neighborhood that it serves in the state
+5	First Union , with assets of about $ 32 billion , said it was disappointed by the delay but said it would cooperate with regulatory authorities	The bank added that it believes the review will `` demonstrate that First Union is in compliance with the requirements of the Community Reinvestment Act
+1	The company has already missed its initial Oct. 1 target date for completing the merger	it still expects to close the acquisition later this year or early in 1990
+5	In New York Stock Exchange composite trading yesterday , First Union shares rose 25 cents to $ 23	Florida National stock closed unchanged at $ 25.875 in national over-the-counter trading
+0	Texas Air has run into difficulty reselling about $ 20 million of debt securities because of problems in the junk bond market And plans to raise another $ 20 million through changes to an insurance policy have hit a snag	the $ 40 million will have no effect whatsoever on the asset structure of Eastern 's plan
+2	the $ 40 million will have no effect whatsoever on the asset structure of Eastern 's plan	Forty million in the total scheme of things is not that significant
+2	However , since Eastern first filed for Chapter 11 protection March 9 , it has consistently promised to pay creditors 100 cents on the dollar	Because the carrier is still pledging to do that , some committee members successfully argued that there 's little reason yet to explore a different plan , according to one person familiar with the creditors ' position
+1	Because the carrier is still pledging to do that , some committee members successfully argued that there 's little reason yet to explore a different plan , according to one person familiar with the creditors ' position	Earlier this month the accounting firm of Ernst & Young and the securities firm of Goldman , Sachs & Co. , the experts hired by the creditors , contended that Eastern would have difficulty meeting earnings targets the airline was projecting
+8	Earlier this month the accounting firm of Ernst & Young and the securities firm of Goldman , Sachs & Co. , the experts hired by the creditors , contended that Eastern would have difficulty meeting earnings targets the airline was projecting	Ernst & Young said Eastern 's plan would miss projections by $ 100 million
+5	Ernst & Young said Eastern 's plan would miss projections by $ 100 million	Goldman said Eastern would miss the same mark by at least $ 120 million
+4	Yesterday , Joel Zweibel , an attorney for Eastern 's creditors committee , declined to comment on whether the experts had ever been instructed to look at other choices and whether they now were asked not to	He said only that the committee has not yet taken any position on Eastern 's reorganization plan and that the two sides were still negotiating
+2	and that the two sides were still negotiating	In every case , people would like to see a consentual plan
+0	Eastern and its creditors agreed in July on a reorganization plan that called for the carrier to sell off $ 1.8 billion in assets and to emerge from Chapter 11 status in late 1989 at two-thirds its former size	Eastern eventually decided not to sell off a major chunk , its South American routes , which were valued at $ 400 million
+1	Eastern eventually decided not to sell off a major chunk , its South American routes , which were valued at $ 400 million	Such a change meant the reorganization plan the creditors had agreed on was no longer valid , and the two sides had to begin negotiating again
+5	The bonds are all rated single-A by Moody 's Investors Service Inc	The underwriters expect a single-A-minus rating from Standard & Poor 's Corp. , which has the issue under review
+5	it is acting to protect its own interests as a shareholder of Navigation Mixte	That would be a blow to both Paribas and Navigation Mixte
+2	That would be a blow to both Paribas and Navigation Mixte	Each had claimed Allianz , Europe 's largest insurance company , as a tacit ally
+9	That would be a blow to both Paribas and Navigation Mixte	Each had claimed Allianz , Europe 's largest insurance company , as a tacit ally
+5	The Allianz statement also reinforced the belief that the takeover battle could be a long one	It led to broad market speculation that Paribas now will sweeten its bid , which is expected to be formally launched later this week , after approval from French government regulators
+6	Allianz 's entry reflects the increasing eagerness of West German companies , looking ahead to the reduction in European Community internal barriers in 1992 , to get involved in what until now were considered internal French affairs	Deutsche Bank , Dresdner Bank and Commerzbank all also have expressed eagerness to expand in France before 1992
+5	Dresdner Bank this month moved to acquire Banque Internationale des Placements	Commerzbank had hoped to buy a stake in Credit Lyonnais
+5	Commerzbank had hoped to buy a stake in Credit Lyonnais	Deutsche Bank has actively sought a French acquisition for at least two years
+5	Deutsche Bank has actively sought a French acquisition for at least two years	Lately , analysts say , Deutsche Bank has shocked some in the French financial community by indicating it wants a strong bank with a large number of branches
+5	We are still looking	The banks we think would fit into our concept are either government-owned or not for sale , though Deutsche Bank would be able to pay a good price
+5	Allianz currently holds between 5 % and 10 % of Navigation Mixte , an apparent increase from the 5 % stake that Navigation Mixte officials had earlier announced	Allianz was buying yesterday morning , and Navigation Mixte moved up 108 francs ( $ 17.19 ) to close at 1,908 francs in heavy trading
+5	Allianz also holds a 50 % stake in Navigation Mixte 's insurance subsidiary	Navigation Mixte holds the remaining 50 %
+2	that it regrets that Paribas is n't bidding for all of Navigation Mixte 's shares	that if Paribas wins its 66.7 % , remaining Navigation Mixte shares will fall in value
+2	that if Paribas wins its 66.7 % , remaining Navigation Mixte shares will fall in value	That displeases many current holders , such as Allianz , which could n't be sure of selling all their shares if they tendered to Paribas
+1	that Allianz eventually could sell to Paribas	That would be bad news for Navigation Mixte 's current management , which was counting on Allianz to help fend off Paribas
+0	That would be bad news for Navigation Mixte 's current management , which was counting on Allianz to help fend off Paribas	Allianz did n't say whom , if anyone , it will support
+4	Allianz did n't say whom , if anyone , it will support	It said simply that it will boost its Navigation Mixte stake as it sees fit over the coming days to protect itself , as long as it has French regulatory officials ' approval
+5	Paribas currently intends to offer 1,850 francs a share for Navigation Mixte shares that receive full dividends this year	It is to offer 1,800 francs for shares created on July 1 , which receive partial dividends
+5	it expects to begin full volume production of the drives in the U.S. and Singapore in the first quarter next year	A drive with 120 megabytes of capacity is scheduled for release during the third quarter of 1990
+8	MiniScribe has been on the rocks since it disclosed early this year that its earnings reports for 1988 were n't accurate	After an internal investigation , the company found that senior officials used a variety of schemes to fabricate sales gains , including counting shipments of bricks and defective drives as sales
+8	The settlement stemmed from a lawsuit the dealers filed in 1982 when the Times began its own competing direct delivery service	The pact calls for the Times to pay dealers $ 3.6 million over six years , as well as other payments in the form of subsidies over three years , based on the number of `` new customers started by the dealers and on pricing structures
+5	Home delivery is the fastest growing segment of the Times 's 1.1 million daily circulation	Currently , about 60 % of home delivery subscribers in the New York area receive the paper directly from the Times
+2	Mercury also is shrinking itself , part of its plan to change its emphasis from buying mortgage loans from mortgage brokers to making loans directly	Such a focus is `` more profitable , more efficient and gives us a greater sense of control
+0	the closed-end fund 's directors will consider Mr. Green 's offer in a couple of weeks at a regular meeting	He has n't added anything
+8	that Young & Rubicam worked up for Ford Motor Co	The ad agency had approached Ms. Midler about appearing , but she declined , citing a longstanding policy of refusing advertising work.The agency then turned to a former backup singer for Ms. Midler who appeared in the ad and crooned what was generally considered a more than credible imitation of Ms. Midler 's 1973 hit song `` Do You Wan na Dance
+2	but she declined	The agency then turned to a former backup singer for Ms. Midler who appeared in the ad and crooned what was generally considered a more than credible imitation of Ms. Midler 's 1973 hit song `` Do You Wan na Dance
+2	that the verdict reaffirms her position and our position that advertisers and advertising agencies can not with impunity imitate the voices of well-known performers	That is a property right that belongs to the performer
+8	because the same court had dismissed a similar case in 1970 involving singer Nancy Sinatra and a tire ad -- also a Young & Rubicam product	Ms. Sinatra sued over the use of her `` These Boots are Made for Walkin ' '' song in the ad
+8	One thing that is a little unnerving is that you had three old men on the court of appeals in California coming up with a statement that Nancy Sinatra is not distinctive but that Bette Midler is	I am not sure that judges , many of whom I like very much , are proper repositories for making distinctions about pop singers
+2	that the latest decisions are having a chilling effect	It has made people think twice about how they use music and is forcing them to be more circumspect about doing a particular rendition of a song in its most famous form
+5	James River , a maker of pulp , paper and plastic products , already has interests in tissue businesses in France , Spain , Italy and Turkey	it plans to form European ventures with Italian and Finnish companies
+2	the definitive agreements require that Anchor obtain a waiver from its bank lenders of existing covenant defaults under its bank facilities	Since Anchor is still seeking this waiver the tender offer is being extended until 5 p.m. EST tomorrow
+2	the dollar will continue to hold its current tight trading pattern	that weakness in both the yen and sterling have helped offset bearish U.S. economic news and have lent support to the dollar
+5	In late New York trading yesterday , the dollar was quoted at 1.8340 marks , up from 1.8300 marks late Friday , and at 141.90 yen , up from 141.65 yen late Friday	Sterling was quoted at $ 1.5820 , up from $ 1.5795 late Friday
+7	The dollar began yesterday on a firm note in Tokyo , closing higher in late trade	In Europe , the dollar closed slightly up in a market dominated by cross trades
+5	On the Commodity Exchange in New York , gold for current delivery settled at $ 377.80 an ounce , down 70 cents	Estimated volume was a moderate 3.5 million ounces
+10	Soviet police clashed with demonstrators in Moscow following a candlelight vigil around the KGB 's Lubyanka headquarters in memory of those persecuted under Stalin.More than 1,000 Muscovites attended the service	A splinter group demonstrated in Pushkin Square , where the police clubbed and detained a number of protesters
+5	Soviet police clashed with demonstrators in Moscow following a candlelight vigil around the KGB 's Lubyanka headquarters in memory of those persecuted under Stalin.More than 1,000 Muscovites attended the service	A splinter group demonstrated in Pushkin Square , where the police clubbed and detained a number of protesters
+8	aimed at resolving differences in proposals to reduce chemical-weapons arsenals	While the Kremlin has urged a ban on output of the poison gases , the White House wants to continue producing the weapons even after an international treaty calling for their destruction is signed
+9	Secretary of State Baker expressed concern that Nicaraguan President Ortega may attempt to use alleged attacks by the U.S.backed Contra rebels as an excuse to scuttle elections scheduled for February	Ortega had threatened to end a 19-month-old ceasefire
+8	in which the pilot of a training jet crashed into the ship , killing five sailors	the flier was making his first attempt to land on a carrier
+9	Four people torched three U.S. flags on the central steps of the U.S. Capitol in a bid to test a new federal law protecting the American flag from desecration	All four demonstrators were arrested
+5	the toll from two earthquakes Sunday had reached at least 30 dead and about 250 injured	The heaviest damage was reported in Tipasa , about 40 miles west of Algiers
+6	as opinion polls showed the prime minister 's popularity had hit a record low following the resignation last Thursday of Chancellor of the Exchequer Lawson	One poll , conducted for the British Broadcasting Corp. , found that 52 % of voters believed that she should quit
+5	that the number of persons working in product development will be reduced world-wide to 2,440 from 2,888 by the end of 1990	The number of workers in production sectors will be cut by 488 , to 5,200 by September
+5	The number of workers in production sectors will be cut by 488 , to 5,200 by September	The cuts will be made half within Germany and half abroad
+8	The company also cited some success in damping cost increases and said it wants to return to profitability in 1990	It cited the expected beneficial effects of a concentration on key products , further structural changes within the group and cooperation agreements with other companies
+5	The tender offer , which surprised analysts because it appeared to be unsolicited , could spark a period of industry consolidation	Analysts questioned whether Georgia-Pacific will ultimately prevail , saying other paper concerns may make competing bids
+6	Two more securities firms bowed to the outcry over program trading	GE 's Kidder Peabody unit said it would stop doing stock-index arbitrage for its own account , while Merrill Lynch said it was halting such trading entirely
+8	A big pension-insurance case will be reviewed by the Supreme Court	The justices agreed to decide whether federal insurers can require LTV to take back responsiblilty for funding its $ 2.3 billion pension shortfall
+8	Drug companies lost a major liability case	The Supreme Court let stand a New York ruling that all manufacturers of an anti-miscarriage drug are liable for injuries or deaths if the actual maker is n't known
+1	Revco received a $ 925 million takeover offer from Texas financier Robert Bass and Acadia Partners	The drugstore chain reacted cautiously
+1	Rockefeller Group agreed to sell a 51 % interest to Mitsubishi Estate , a major Japanese developer and property owner , for $ 846 million	Officials at some Rockefeller units are said to be unhappy with the agreement
+8	Continental Air replaced its top executive for the sixth time in as many years	Chairman and Chief Executive Joseph Corr was succeeded by Frank Lorenzo , chief of parent Texas Air
+2	The plan calls for Cray Research holders to receive one share in the new company for every two shares held	An estimated 14.7 million Cray Computer shares will be distributed
+8	the decline occurred although revenue rose 30 % to more than $ 8.3 million from $ 6.4 million a year earlier	fiscal 1989 earnings were `` down slightly '' from $ 3.2 million , or 74 cents a share , in fiscal l988
+6	that early signs point to improved earnings and revenue in the first quarter of fiscal 1990	The current backlog of orders is strong throughout the corporation
+5	Priam had a loss of $ 25.4 million for the fiscal year ended July 7 , compared with year-earlier profit of $ 543,000 , or two cents a share	Revenue for the year fell 13 % to $ 122.7 million
+5	In exchange offers that expired Friday , holders of each $ 1,000 of notes will receive $ 250 face amount of Series A 7.5 % senior secured convertible notes due Jan. 15 , 1995 , and 200 common shares	For each $ 1,000 face amount of debentures , holders received $ 250 of Series B 11 % senior secured convertible notes due Oct. 15 , 1998 , and 200 common shares
+8	Japan 's biggest computer maker last week undercut seven competitors to win a contract to design a mapping system for the city of Hiroshima 's waterworks	Its bid : one yen , or less than a U.S. penny
+2	that Fujitsu said it is now offering to withdraw from the project	From a common-sense viewpoint , it was not socially acceptable
+2	because we want experience in the field	We expect a big market in the future
+8	We expect a big market in the future , so in the long term it will be profitable	It 's a kind of an investment
+2	the municipal government had budgeted about 11 million yen ( $ 77,500 ) for the project	I was flabbergasted
+2	I was flabbergasted	I understand the firm 's enthusiasm in getting the deal , but such a large company would have been better off showing a little more discretion
+8	they may have been a little overzealous	headquarter officials did n't approve the bid in advance and will take measures so this kind of thing does n't happen in the future
+2	and will take measures so this kind of thing does n't happen in the future	It 's contrary to common sense
+2	that will show water lines throughout the city	The system could be used in a fire or earthquake to locate problems , among other things
+3	the Hiroshima contract will help it secure pacts with other municipalities	Japanese local governments are expected to invest heavily in computer systems over the next few years , and many companies expect that field to provide substantial revenue
+8	to invest heavily in computer systems over the next few years , and many companies expect that field to provide substantial revenue	In the near future , it will be a big market , not just for waterworks , but for all mapping systems
+8	In the near future , it will be a big market , not just for waterworks , but for all mapping systems	We can expect a hundreds-of-billions-of-yen market
+6	But the Japanese practice of deep discounting often is cited by Americans as a classic barrier to entry in Japan 's market	Earlier this year , the U.S. complained that Japan 's supercomputer makers were effectively closing out foreign competitors by slashing prices as much as 90 % for universities
+8	Fujitsu was n't the only company willing to sacrifice profit on the project	Three competitors bid between 300,000 yen and 500,000 yen , according to the Hiroshima government office
+1	Three competitors bid between 300,000 yen and 500,000 yen , according to the Hiroshima government office	Other bids ranged from about 10 million yen to 29 million yen
+5	With the new service , American will fly 161 flights a week to 17 European cities	The additions solidify American 's position as the third-largest U.S. transatlantic carrier , behind PanAm Corp. 's Pan American World Airways and Trans World Airlines
+8	that the results of the first three quarters suggest it will meet its profit goal for the year	Earnings at the department-store division , which generates the bulk of profit , should remain at least stable , while income at the mail-order and tourism units is likely to fall slightly from 1988
+6	Analysts , however , were surprised because the tender offer appeared unsolicited	It 's quite a bombshell , '' said one , adding that the offer could spark a period of industry consolidation
+5	The two companies would appear to be a logical fit because of their complementary lines , and analysts described the offer , representing a 36 % premium over Nekoosa 's market price , as fair	Nekoosa closed yesterday at $ 42.75 , up $ 2.75 , in New York Stock Exchange composite trading
+10	The two companies would appear to be a logical fit because of their complementary lines , and analysts described the offer , representing a 36 % premium over Nekoosa 's market price , as fair	Nekoosa closed yesterday at $ 42.75 , up $ 2.75 , in New York Stock Exchange composite trading
+3	whether Georgia Pacific will ultimately prevail	You have to watch out for counterbids
+6	You have to watch out for counterbids	International Paper or Weyerhaeuser could step in
+5	According to the Value Line Investment Survey , demand for Nekoosa 's commodity paper has weakened , prompting earnings to decline by 6.6 % in the third quarter ended Sept. 30	With discounts widening on business papers , and with newsprint and corrugated shipments flat , we expect negative earnings comparisons through next year
+1	they reached an agreement in principle for the acquisition of Weisfield 's by Sterling Inc	the acquisition is subject to a definitive agreement
+5	the acquisition is subject to a definitive agreement	they expect the transaction to be completed by Dec. 15
+2	Ratners , which controls 25 % of the British jewelry market , would increase the number of its U.S. stores to about 450 stores from 360	it hopes to control 5 % of jewelry business in the U.S. by 1992
+1	it hopes to control 5 % of jewelry business in the U.S. by 1992	currently it controls about 2 %
+2	that a one million share buy-back program announced in March is substantially complete	The company , which makes integrated circuits and other electronic parts , now has about 47 million common shares outstanding
+3	Where does Mr. Lehman get off castigating Gen. George Marshall for muscling in on naval prerogatives	Ever since the days of Alfred Thayer Mahan ( U.S. naval officer and naval historian ) and Teddy Roosevelt the Navy has been the service most favored by Washington officialdom
+5	Ever since the days of Alfred Thayer Mahan ( U.S. naval officer and naval historian ) and Teddy Roosevelt the Navy has been the service most favored by Washington officialdom	Mr. Lehman overlooks the fact that the Navy possesses its own air force ( the carrier fleet ) and its own army ( the Marines ) , which in turn has its own air force
+1	But Mr. Corr 's tenure was shorter than most	The 48-year-old Mr. Corr was hired largely because he was credited with returning Trans World Airlines Inc. to profitability while he was its president from 1986 to 1988
+9	largely because he was credited with returning Trans World Airlines Inc. to profitability while he was its president from 1986 to 1988	Before that , he was an executive with a manufacturing concern
+5	Companies listed below reported quarterly profit substantially different from the average of analysts ' estimates	The companies are followed by at least three analysts , and had a minimum five-cent change in actual earnings per share
+5	The companies are followed by at least three analysts , and had a minimum five-cent change in actual earnings per share	Estimated and actual results involving losses are omitted
+10	He succeeds Alvin A. McCall in the position	Mr. McCall will remain chairman
+5	He succeeds Alvin A. McCall in the position	Mr. McCall will remain chairman
+1	Charles A. Pearce , 66 years old , will retire from his post as chief executive officer of this bank holding company effective Dec. 31	He will remain chairman
+1	He will remain chairman	Charles R. Simpson Jr. , 46 , president and chief operating officer , will assume the chief executive 's post
+10	He will remain chairman	Charles R. Simpson Jr. , 46 , president and chief operating officer , will assume the chief executive 's post
+2	It is a peaceful time in this part of western India	The summer crop is harvested , winter sowing has yet to begin
+5	The summer crop is harvested , winter sowing has yet to begin	Farmers in loose turbans and fancy earrings spend their afternoons laughing and gossiping at the markets
+1	For just as the Arabs were in the 1960s , the farmers of Sidhpur are on the brink of global power and fame	The Arabs had merely oil
+1	The Arabs had merely oil	These farmers may have a grip on the world 's very heart
+2	Ever since the link to cholesterol was disclosed , Americans have begun scarfing up psyllium in their breakfast cereals	If further research proves the seed 's benefits , this dusty farm district could become the epicenter of a health-food fad to rival all fads since cod-liver oil
+2	This seed 's not grown anywhere else in India , or anywhere else in the world	The proper climatic conditions do n't exist in many places in the world
+3	Only one thing is certain here : Pysllium is likely to remain solely an export item from Sidhpur for a long time	Local farmers say it is as good a cash crop as mustard or fenugreek , a legume.But they have no desire to eat a bowl of psyllium each morning , and , perhaps , little need
+6	As such , the soluble fiber has an almost fanatic following in northern India	I can assure you from personal experience , it works
+5	I can assure you from personal experience , it works	I have been taking it daily since 1961
+5	Folk doctors also prescribe it for kidney , bladder and urethra problems , duodenal ulcers and hemorrhoids	Some apply it to gouty joints
+1	The transluscent husk of the seed is removed , sifted and crushed	the seed itself is fed to animals
+2	But some time ago , researchers discovered that soluble fibers also lower cholesterol levels in the blood	Cincinnati-based P & G took an interest
+2	Cincinnati-based P & G took an interest	it ordered two studies on psyllium and cholesterol
+5	One of the studies , done at the University of Minnesota , tested 75 people with raised cholesterol levels	After 16 weeks , the group that took three daily teaspoons of Metamucil saw a significant dip in their general cholesterol levels , and an even larger reduction in levels of low-density lipoproteins , the so-called bad cholesterol
+2	After 16 weeks , the group that took three daily teaspoons of Metamucil saw a significant dip in their general cholesterol levels , and an even larger reduction in levels of low-density lipoproteins , the so-called bad cholesterol	In late 1987 , P & G asked the FDA for approval to market Metamucil as the first non-prescription , cholesterol-lowering product in the
+2	In April , the psyllium bandwagon got more crowded	General Mills Inc. , the food giant , launched a breakfast cereal called Benefit , containing psyllium , oat , wheat and beet bran
+5	General Mills Inc. , the food giant , launched a breakfast cereal called Benefit , containing psyllium , oat , wheat and beet bran	the words , `` reduce cholesterol '' were prominently displayed on its package
+2	Suddenly , on television , in advertisements and on their cereal boxes , Americans were inundated with news about the obscure seed	The flood of claims and counter-claims worried consumers and actually hurt sales of the new cereals
+5	The flood of claims and counter-claims worried consumers and actually hurt sales of the new cereals	that Americans might someday , in various forms , ingest too much psyllium
+8	Currently , there is a lull in the psyllium war	The FDA has asked Kellogg and General Mills to show research that their cereals are safe
+5	But the agency has n't yanked psyllium off store shelves	If the FDA approves the new uses of psyllium , other companies are expected to rush to market with psyllium products
+5	It 's going to be a sensational thing , '' says Mr. Krishnamurthy of P & G in Bombay	Says psyllium exporter Mr. Patel : `` I just got back yesterday from the U.S.In the newspapers , on the radio and TV , psyllium is everywhere
+6	But the news of the boom has yet to trickle down to the farmers	They only know of one use for the crop , as a laxative , and with psyllium prices currently languishing in the wake of a bumper crop , they think of the seed as a marginal crop , something to grow between summer wheat crops
+2	Psyllium 's not a good crop	You get a rain at the wrong time and the crop is ruined
+2	Even at the Basic Chemicals , Pharmaceuticals and Cosmetics Export Promotion Council , the government agency that promotes the seed , the psyllium boom is distant thunder	The staff brags about psyllium 's hefty contribution to American regularity , without quite grasping the implications of the research on cholesterol
+2	without quite grasping the implications of the research on cholesterol	The council 's annual report has psyllium on its last page , lumped with such unglamorous export items as sarsaparilla and `` Nux vomica , '' a plant that induces vomiting
+2	In one way , the psyllium middlemen -- the buyers and exporters -- are glad to keep news of the boom to themselves	They want psyllium prices low for their purchases next year
+8	But there 's a catch	Sidhpur and adjacent districts are the only places in the world where psyllium is grown in large quantities
+8	This is partly due to the particular demands of the crop	Psyllium needs sandy soil , dew during the first few weeks , and then total dryness when its seeds are maturing
+2	Psyllium needs sandy soil , dew during the first few weeks , and then total dryness when its seeds are maturing	Small crops are grown in Pakistan , France , Spain , Italy , Belgium and Brazil , but their quality ca n't compare to that of Indian psyllium
+8	there are other spots on the globe , and in India , where the seed could be grown	It 's not a crop that ca n't be doubled or tripled
+0	In Sidhpur , it is almost time to sow this year 's crop	Many farmers , too removed to glean psyllium 's new sparkle in the West , have decided to plant mustard , fennel , cumin , fenugreek or castor-oil seeds
+6	passing up psyllium altogether this year in favor of a crop with a future such as cumin or fennel	Maybe I 'll plant castor-oil seeds
+10	Maybe I 'll plant castor-oil seeds	His brother , Parkhaji , whose head is swathed in a gorgeous crimson turban , nods vigorous assent
+5	Maybe I 'll plant castor-oil seeds	His brother , Parkhaji , whose head is swathed in a gorgeous crimson turban , nods vigorous assent
+6	The reasonable first-year rates can be followed by increases of 60 % or more if a covered employee files a major claim	Insurance premiums for one small Maryland concern went up 130 % in less than two years , the last increase coming after one of its three workers developed a herniated disk
+2	There 's a distinct possibility that I may lose my job over this	her employer ca n't afford the rate increases
+3	For employee and employer alike , the worry is widespread	that small-business owners rank the availability and rising cost of health insurance as one of their biggest concerns
+5	I have an old-fashioned name for people in that position : sick people who need health insurance	What we 're seeing now makes a mockery of the idea of insurance : collect premiums from the healthy , dump the sick and let them pay their own bills
+2	What we 're seeing now makes a mockery of the idea of insurance : collect premiums from the healthy , dump the sick and let them pay their own bills	Some lawmakers may seek legislation to limit overly restrictive insurance policies
+2	to woo the small-business market	As larger companies increasingly self-insure , or use reserves to pay their own workers ' medical bills , the insurance industry has turned to the small-employer market that was once a backwater for them
+8	Insurance companies will offer a good rate if no one is sick , but it 's a roll of the dice	One case of cancer or a high-risk pregnancy with a sick infant , and rates go up 40 % to 60 %
+2	One case of cancer or a high-risk pregnancy with a sick infant , and rates go up 40 % to 60 %	Small-business people end up paying insurance premiums worth two to three times the cost of one illness
+8	Some business analysts blame the problem on tough competition in the insurance market	insurance companies use policies aimed at excluding bad risks because their competitors do
+3	I 'm not accusing insurers of dereliction of duty	You ca n't ask one carrier to underwrite on social grounds when that might destroy it in the marketplace
+2	I 'm not accusing insurers of dereliction of duty	You ca n't ask one carrier to underwrite on social grounds when that might destroy it in the marketplace
+2	But first on the list of priorities is to prohibit state laws requiring the inclusion of specialty items , such as psychiatric care , in basic health plans	Such requirements make it difficult to provide a basic , low-cost health-benefits package
+1	Before the state of Wisconsin mandated that mental-health care be covered , there were only 70 mental-health clinics in the state	now there are 400
+9	Before the state of Wisconsin mandated that mental-health care be covered , there were only 70 mental-health clinics in the state	now there are 400
+5	Before the state of Wisconsin mandated that mental-health care be covered , there were only 70 mental-health clinics in the state ; now there are 400 , '' says Carolyn Miller , an NFIB lobbyist	She contends that similar mandates have driven up insurance costs 20 % in Maryland and 30 % in California
+1	which `` does n't save one dollar	It just makes healthy businesses subsidize unhealthy ones and gives each employer less incentive to keep his workers healthy
+2	It just makes healthy businesses subsidize unhealthy ones and gives each employer less incentive to keep his workers healthy	the HIAA is working on a proposal to establish a privately funded reinsurance mechanism to help cover small groups that ca n't get insurance without excluding certain employees
+1	It just makes healthy businesses subsidize unhealthy ones and gives each employer less incentive to keep his workers healthy	the HIAA is working on a proposal to establish a privately funded reinsurance mechanism to help cover small groups that ca n't get insurance without excluding certain employees
+8	But to Ms. Allen the issue was simple	What good is having health insurance when it 's so expensive that it becomes impossible to keep after only one major claim
+5	Its stock has slumped recently , closing unchanged Friday at $ 29 a share in composite trading on the New York Stock Exchange	at that price , the company has a market value of about $ 278.4 million
+2	Nashua 's `` intention is to remain an independent public company	it amended its shareholder rights plan by reducing to 10 % from 20 % the level of ownership by an outsider that would trigger the issuance to other holders of rights to buy additional shares of Nashua common at half price
+2	that while Nashua 's performance this year has been `` atrocious , '' the company nonetheless is attractive as a `` classic breakup candidate because there 's no similarity between its { four } businesses	the breakup value at $ 55 a share
+5	In over-the-counter trading Friday , Weisfield 's gained $ 9.50 to $ 39	At that price , the company has an indicated value of $ 42.9 million
+5	In over-the-counter trading Friday , Weisfield 's gained $ 9.50 to $ 39.At that price , the company has an indicated value of $ 42.9 million	Weisfield 's had about 1.1 million shares outstanding as of July 31
+6	Among the most upbeat was BT Brokerage ( Asia ) Ltd	the economy `` shockproof
+6	Others were more cautious	that eroding confidence might undermine future economic development
+5	Manufacturers have survived the turmoil in China largely unscathed	Signs of revival seem evident in Hong Kong 's hard-hit hotel sector
+5	But in the stock and real-estate markets , activity remains spotty even though prices have regained much of their lost ground	Waning demand reported by importers , retailers and even fancy restaurants all reinforce a profile of a community that is sharply tightening its belt
+2	As a model of capitalist efficiency on southern China 's doorstep , Hong Kong 's prospects look good	China 's land and labor offer inexpensive alternatives to local industry
+6	As a model of capitalist efficiency on southern China 's doorstep , Hong Kong 's prospects look good	China 's land and labor offer inexpensive alternatives to local industry
+5	China 's land and labor offer inexpensive alternatives to local industry	China-bound freight streams through the territory 's port
+5	China 's land and labor offer inexpensive alternatives to local industry.China-bound freight streams through the territory 's port	In the decade since the communist nation emerged from isolation , its burgeoning trade with the West has lifted Hong Kong 's status as a regional business center
+5	China 's land and labor offer inexpensive alternatives to local industry.China-bound freight streams through the territory 's port.In the decade since the communist nation emerged from isolation , its burgeoning trade with the West has lifted Hong Kong 's status as a regional business center	These benefits seem secure despite China 's current economic and political troubles
+1	It is also the sovereign power that , come 1997 , will take over this British colony	China 's leaders have promised generous liberties for post-1997 Hong Kong
+1	China 's leaders have promised generous liberties for post-1997 Hong Kong	That promise sounds shaky now that those same leaders have fallen back on Marxist dogma and brute force to crush their nation 's democracy movement
+1	Outflows of people and capital from Hong Kong have been growing since the sovereignty issue first arose in the early 1980s	that , given its robust economy , Hong Kong will be able to attract sufficient foreign money and talent to comfortably offset the outflows
+1	A widely held assumption all along has been that , given its robust economy , Hong Kong will be able to attract sufficient foreign money and talent to comfortably offset the outflows	With interest in emigration and investment abroad soaring since June 4 , that assumption no longer seems so safe
+8	Investment and emigration plans take time to come to fruition	Only four months have passed since the Beijing massacre , and few are prepared to predict its ultimate impact
+2	The only consensus is that more money and people may leave Hong Kong than had been thought likely	This expected blow has cast a pall over the economy 's prospects
+1	that the territory may not be able to regain its momentum until some time after 1997	It may experience an upswing or two in between
+2	Investors have to accept the possibility of a significant slowdown in economic activity in the runup to 1997	Over the next few years , I would advise caution
+1	Nearly half of them argue that Hong Kong 's uneasy relationship with China will constrain -- though not inhibit -- long-term economic growth	The rest are split roughly between optimists who expect Hong Kong to hum along as before and pessimists who foresee irreparable chaos
+5	Since the China crisis erupted the scenario as depicted by the middle-of-the-road group bears a remarkable resemblance to the difficulties Hong Kong currently faces	that the local economy will grow through the 1990s at annual rates averaging between 3 % and 5 %
+2	Such a pace of growth , though respectable for mature industrialized economies , would be unusually slow for Hong Kong	Only twice since the 1960s has annual gross domestic product growth here fallen below 5 % for two or more consecutive years
+8	Such a pace of growth , though respectable for mature industrialized economies , would be unusually slow for Hong Kong	Only twice since the 1960s has annual gross domestic product growth here fallen below 5 % for two or more consecutive years
+8	Only twice since the 1960s has annual gross domestic product growth here fallen below 5 % for two or more consecutive years	The first instance occurred in 1967-68 , when China 's Cultural Revolution triggered bloody street rioting in the colony
+7	The first instance occurred in 1967-68 , when China 's Cultural Revolution triggered bloody street rioting in the colony	The other came in 1974-75 from the combined shock of world recession and a severe local stock market crash
+1	The other came in 1974-75 from the combined shock of world recession and a severe local stock market crash	During the past 10 years , Hong Kong 's economic growth has averaged 8.3 % annually
+2	During the past 10 years , Hong Kong 's economic growth has averaged 8.3 % annually	Given Hong Kong 's record , Mr. Mushkat 's `` realists '' might have sounded unduly conservative when the interviews took place two years ago
+1	Given Hong Kong 's record , Mr. Mushkat 's `` realists '' might have sounded unduly conservative when the interviews took place two years ago	Under the current circumstances their scenario no longer seems unrealistic
+5	The city could lose some of its entrepreneurial flavor	It could lose some of its dynamism
+1	It could lose some of its dynamism	It does n't have to be a disaster
+8	It does n't have to be a disaster	It just means that Hong Kong would become a less exciting place
+8	Going by official forecasts of GDP , which measures the colony 's output of goods and services , minus foreign income , Mr. Mushkat 's `` realists '' seem relatively close to the mark	After taking into account the fallout from the China crisis , the government has projected 1989 GDP growth of 5 %
+1	a further downward revision may be justified unless the economy stages a more convincing rally	We are n't looking at anything like a doomsday scenario
+6	Many factors besides a dread of 1997 will have a bearing on Hong Kong 's economy	One concerns Japanese investors
+8	One concerns Japanese investors	Barely visible on Hong Kong 's property scene in 1985 , by last year Japan had become the top foreign investor , spending $ 602 million
+1	Barely visible on Hong Kong 's property scene in 1985 , by last year Japan had become the top foreign investor , spending $ 602 million	The market has grown relatively quiet since the China crisis
+2	Another -- and critical -- factor is the U.S. , Hong Kong 's biggest export market	Even before the China crisis , weak U.S. demand was slowing local economic growth
+6	Another -- and critical -- factor is the U.S. , Hong Kong 's biggest export market	Even before the China crisis , weak U.S. demand was slowing local economic growth
+2	that global forces will continue to govern Hong Kong 's economic rhythm	Once external conditions , such as U.S. demand , swing in the territory 's favor local businessmen will probably overcome their 1997 worries and continue doing business as usual
+3	that global forces will continue to govern Hong Kong 's economic rhythm	Once external conditions , such as U.S. demand , swing in the territory 's favor local businessmen will probably overcome their 1997 worries and continue doing business as usual
+2	But economic arguments , however solid , wo n't necessarily impress Hong Kong 's 5.7 million people	Many are refugees , having fled China 's unending cycles of political repression and poverty since the Communist Party took power in 1949
+6	But economic arguments , however solid , wo n't necessarily impress Hong Kong 's 5.7 million people	Many are refugees , having fled China 's unending cycles of political repression and poverty since the Communist Party took power in 1949
+9	Emigration applications soared in 1985 , when Britain and China ratified their accord on Hong Kong 's future	In 1987 , Hong Kong 's most prosperous year for a decade , 30,000 left , up 58 % from the previous year
+1	In 1987 , Hong Kong 's most prosperous year for a decade , 30,000 left , up 58 % from the previous year	Last year , 45,000 went
+1	Last year , 45,000 went	The government predicts that annual outflows will level off over the next few years at as much as 60,000 -- a projection that is widely regarded as unrealistically low
+5	The government predicts that annual outflows will level off over the next few years at as much as 60,000 -- a projection that is widely regarded as unrealistically low	A large number of those leaving are managers and professionals
+5	A large number of those leaving are managers and professionals	While no one professes to know the exact cost of such a `` brain drain '' to the economy , hardly anyone doubts that it poses a threat
+5	Though the trading halts are offered as a sign of concern about recent stock market volatility , most Wall Street firms remain open to handle program trading for customers	Trading executives privately say that huge stock-index funds , which dwarf Wall Street firms in terms of the size of their program trades , will continue to launch big programs through the stock market
+8	and frequently swap between stocks and futures to capture profits	They will do it every chance they get
+8	In fact , without Wall Street firms trading for their own accounts , the stock-index arbitrage trading opportunities for the big funds may be all the more abundant	More customers may come to us now
+1	the current debate over program trading as a repeat of the concern expressed after the 1987 crash	that studies completed after the 1987 crash exonerated program trading as a source of volatility
+2	that studies completed after the 1987 crash exonerated program trading as a source of volatility	The issues that are ( now ) being raised , in classic anti-intellectual fashion , fly in the face of a number of post-crash studies
+2	Stock-index funds have grown in popularity over the past decade as pension funds and other institutional investors have sought a low-cost way to match the performance of the stock market as a whole	Many money managers who trade stock actively have trouble consistently matching the S & P-500 's returns
+6	The Wall Street firms ' pullback followed their recent blacklisting by several institutional investors	Last Tuesday , Kemper Corp. 's Kemper Financial Services Inc. unit said it would no longer trade with firms committed to stock-index arbitrage , including the three that later suspended stock-index arbitrage trading on Friday
+2	Morgan Stanley 's trading halt for its own account is likely to shake up firms such as Kidder , Peabody & Co. that still do such trades for their own account	Morgan Stanley has consistently been one of the top stock-index arbitrage traders in recent months
+3	Morgan Stanley 's trading halt for its own account is likely to shake up firms such as Kidder , Peabody & Co. that still do such trades for their own account	Morgan Stanley has consistently been one of the top stock-index arbitrage traders in recent months
+2	We have to clear up these issues and find out what is present that is creating artificial volatility	There is no question that investor confidence ( in the stock market ) is critical
+8	Margin rules determine the minimum amount of cash an investor must put up when buying a security	Current rules permit investors to put up less cash for futures than for stocks
+2	that different rules governing stock and futures markets are partly responsible for volatility	These rules permit faster and cheaper trading in futures than in stocks , which frequently knocks the two markets out of line
+8	There has to be better coordination on a regulatory basis	One agency should have the authority over all equity products
+5	The former comes from the latest wave of political activism in Hollywood , especially around feminist issues such as abortion	The latter comes from the perception , on the part of many people in network TV , that their only hope of keeping viewers from defecting to cable is to fill the airwaves with an increasingly raw sensationalism
+2	The former comes from the latest wave of political activism in Hollywood , especially around feminist issues such as abortion.The latter comes from the perception , on the part of many people in network TV , that their only hope of keeping viewers from defecting to cable is to fill the airwaves with an increasingly raw sensationalism	Put these together , and you get programs about rape
+8	But tonight 's offering , `` Settle the Score '' ( 9-11 p.m. EST , on NBC ) , does n't even try	This tale of a Chicago policewoman returning home to find the man who raped her 20 years earlier is supposed to be set in the Ozarks.But it 's more like an illustration of what Ben Stein describes in his study of social attitudes in the TV industry : `` Fear of violence and animosity . . . because of race or religion , fear and lack of comprehension about the politics of small-town people . . . produce a powerful wave of dislike of small towns in the minds of TV writers and producers
+6	he felt rejected by many of the Protestants and Southerners he met at Yale	He quotes one student saying , `` You 're just the kind of Jewboy we Southerners ca n't stand
+2	He quotes one student saying , `` You 're just the kind of Jewboy we Southerners ca n't stand	that it was partly in response to such attitudes that he is now `` a dweller on one of the two islands off the coast of America
+2	Not to judge by `` Settle the Score , '' in which Mr. Sohmer seems to be settling a score of his own	Of all the unflattering portraits of small-town America I 've seen on TV , this film is the most gratuitously nasty
+6	Of all the unflattering portraits of small-town America I 've seen on TV , this film is the most gratuitously nasty	The sole sympathetic character is the prodigal daughter Kate ( Jaclyn Smith ) , and she is tolerable only by virtue of having nothing in common with her kinfolk , a truly benighted pack of Southern Protestants whose grim existence consists mostly of growing peaches and repressing sex
+5	I mean , these folks are so uptight that they blame pretty Kate for the fact that when she was a teen-ager , someone tied her hands behind her back , thrust her head into a gunny sack , brutally raped and beat her , and then left her to die in a cold-storage room	Her Pa ( Howard Duff ) is the kind of guy who , while saying grace at the supper table , pauses at the word `` sin '' and glares at the daughter he has n't seen for two decades , because he knows in his heart that she enjoyed what happened in the cold-storage room , and has been indulging the same taste ever since in the fleshpots of Chicago
+10	I mean , these folks are so uptight that they blame pretty Kate for the fact that when she was a teen-ager , someone tied her hands behind her back , thrust her head into a gunny sack , brutally raped and beat her , and then left her to die in a cold-storage room	Her Pa ( Howard Duff ) is the kind of guy who , while saying grace at the supper table , pauses at the word `` sin '' and glares at the daughter he has n't seen for two decades , because he knows in his heart that she enjoyed what happened in the cold-storage room , and has been indulging the same taste ever since in the fleshpots of Chicago
+2	But in Mr. Sohmer 's Ozarks , he is but the tip of the patriarchal iceberg	Every man Kate encounters is either sniggeringly puritanical , viciously patronizing , revoltingly lecherous , or all three
+3	but we know from the outset that he 's not a member of the evil patriarchy	How could he be
+3	How could he be	He 's the director of the local Planned Parenthood chapter
+5	Josh makes clumsy passes at Kate when she 's seething with anger and fear , but we know from the outset that he 's not a member of the evil patriarchy.How could he be ? He 's the director of the local Planned Parenthood chapter	As for Lincoln , if you ca n't guess why he 's so sweet to his sister when everybody else hates her , then I 'm not going to tell you
+6	As for the women , they 're pathetic	Kate 's Ma ( Louise Latham ) is a moral coward
+5	Kate 's Ma ( Louise Latham ) is a moral coward	Her sister-in-law ( Amy Wright ) is a sniveling prude afraid that Kate will seduce all the married men in town , including a particularly loathsome fellow named Tucker
+2	Her sister-in-law ( Amy Wright ) is a sniveling prude afraid that Kate will seduce all the married men in town , including a particularly loathsome fellow named Tucker , whose idea of fun is to leave his wife at home tending to her bruises and cigarette burns , while he bullies Kate into a dance that consists of drooling on her while trying to break her ribs	At the very least , it would appear that Sis is a poor judge of masculine charm
+6	At this point , the truce between feminism and sensationalism gets mighty uneasy	Take the scene in which Kate stands naked by a lighted window , whispering to her hidden assailant , `` Look all you want.Starting tomorrow , I 'm stalking you
+8	Surely the question is obvious	With friends like Mr. Sohmer , do the feminists of Hollywood need enemies ?
+8	A spokesman said the savings bank may not qualify for the capital requirements because , under the proposed guidelines , its $ 380 million of preferred stock does n't meet the `` core capital '' criteria outlined under the new Financial Institutions Reform , Recovery and Enforcement Act of 1989	He added that final guidelines to be published in early November will determine whether the bank is in compliance
+1	it retained three investment bankers to assist it in developing and implementing a financial restructuring plan	It would n't identify the bankers
+8	it retained three investment bankers to assist it in developing and implementing a financial restructuring plan	It would n't identify the bankers
+1	Additionally , Crossland reported a third-quarter loss of $ 175.5 million , or $ 13.44 a share , compared with net income of $ 27.1 million , or $ 1.16 a share , a year ago	A major factor in the third-quarter loss was the write-down of $ 143.6 million of goodwill
+5	that the proposed guidelines caused Crossland to revise its business objectives and , consequently , to write down the asset value of some previous acquisitions	Crossland recorded an additional $ 20 million in loan loss reserves in the third quarter
+5	Net interest income for the third quarter declined to $ 35.6 million from $ 70.1 million a year ago.However , non-interest income rose to $ 23.5 million from $ 22 million	Third-quarter loan originations dropped sharply to $ 663 million from $ 1 billion a year ago
+2	It also placed on CreditWatch for possible downgrade other securities , including the double-B-minus/B rating of Crossland 's certificates of deposit and the single-B rating of its senior subordinated capital notes	About $ 518 million of debt is affected
+4	Does the tyke have a good mind about to be wasted	Is he a victim of Gramm-Rudman cuts
+2	and the producers of one new arrival are a bit desperate	Homeroom , '' a show about a black ad executive who gives up the boardroom for a fourth-grade classroom , is flunking the ratings test
+2	So producers Alyce and Topper Carew spun their Rolodexes and gathered names of black opinion makers to mount a direct-mail campaign	By wooing a core black audience they figure they might keep the show alive at least until the spring semester
+8	Using direct mail for a TV show is like fishing for whale with a breaded hook	It just is n't done
+8	This is a very personal , ethnic style	I want people in the barber shops and the beauty shops and standing in line at the rib joints to be talking about the show
+2	Since deregulation of the market in 1985 , producers have become much more intensely involved in both transportation and marketing	It 's a matter of being close to those suppliers
+1	It 's a matter of being close to those suppliers	many of those companies do n't know us as well as they should
+8	TransCanada transports all gas that moves eastward from Alberta	That includes all the gas consumed in Ontario and Quebec , along with the bulk of Canadian gas exports to the
+2	Having more than a token presence here should enhance communications and business relationships	Since the cost of transporting gas is so important to producers ' ability to sell it , it helps to have input and access to transportation companies
+5	The move should be complete by next summer	All 700 Toronto-based employees will be offered positions in Calgary
+2	So two weeks ago , thousands of Brooks Brothers charge customers -- customers conditioned to wait for twice-yearly clearance sales -- got a surprise : an invitation to come in and buy any one item for 25 % off	During the four-day promotion , shoppers at the Short Hills , N.J. , store lined up to pay for big-ticket items like coats and suits
+6	That 's not all	Departing from its newspaper ads featuring prim sketches of a suit or a coat , Brooks Brothers is marketing an updated image in a new campaign that carries the slogan , `` The Surprise of Brooks Brothers
+8	Departing from its newspaper ads featuring prim sketches of a suit or a coat , Brooks Brothers is marketing an updated image in a new campaign that carries the slogan , `` The Surprise of Brooks Brothers	One color photo displays a rainbow of dress shirts tied in a knot ; another picture shows neckties with bold designs
+2	One color photo displays a rainbow of dress shirts tied in a knot ; another picture shows neckties with bold designs	The message is loud and clear : This is not your father 's Brooks Brothers
+6	As part of its national ad pitch , Brooks Brothers will show less preppy women 's clothes , moving away from its floppy-tie business stereotype	One ad shows a bright red jacket paired with a black leather skirt
+2	that shaking its time-honored traditions will attract more young men and more women and change consumer perceptions about its range of merchandise	We have men who only buy their shirts and underwear here or younger customers who only buy their { job } interview suit here
+1	We have men who only buy their shirts and underwear here or younger customers who only buy their { job } interview suit here	We want them to buy more of their wardrobe here
+5	When acquired in May 1988 by British retailer Marks & Spencer PLC , Brooks Brothers ' annual operating profit was about $ 41.8 million on sales of $ 290.1 million	that since the $ 750 million takeover , `` sales growth has n't been dramatic
+8	that since the $ 750 million takeover , `` sales growth has n't been dramatic	For the 11 months ended March 31 , operating profit at the 52-store chain totaled $ 40.5 million on sales of $ 286.8 million
+2	As Brooks Brothers jumps into the fashion fray , it will be playing catch up	Many clothiers , especially Ralph Lauren , have cashed in on the recent popularity of updated Ivy League and English styles
+3	As Brooks Brothers jumps into the fashion fray , it will be playing catch up	Many clothiers , especially Ralph Lauren , have cashed in on the recent popularity of updated Ivy League and English styles
+5	Many clothiers , especially Ralph Lauren , have cashed in on the recent popularity of updated Ivy League and English styles	In keeping with men 's broader fashion scope today , businessmen are dabbling in English and Italian suits that are conservative but not stodgy
+2	By making a break from tradition , Brooks Brothers is seeking a delicate balance	If it promotes fashion too much , the shop risks alienating its old-line customers
+5	By making a break from tradition , Brooks Brothers is seeking a delicate balance	If it promotes fashion too much , the shop risks alienating its old-line customers
+1	If it promotes fashion too much , the shop risks alienating its old-line customers	by emphasizing `` value , '' it risks watering down its high-minded mystique
+1	Fashion industry consultants also question whether the company can make significant strides in its women 's business , given that its customer base is less established and that conservative business dress for women is on the decline	Brooks Brothers ' aim is for 20 % of total sales to come from the women 's department , up from the current 12 %
+6	Everybody forgets that there are fashion cycles in classic merchandise	For women , dressing for success in a real structured way is over
+2	Despite these challenges , Marks & Spencer sees big potential in Brooks Brothers , noting the widely recognized name and global presence	Marks & Spencer plans to open roughly 18 more U.S. stores in the next five years
+5	Marks & Spencer plans to open roughly 18 more U.S. stores in the next five years	Brooks Brothers says business is robust at its 30 outlets in Japan and two shops in Hong Kong
+6	Brooks Brothers is also remodeling its stores	Wednesday , it will unveil a $ 7 million refurbishing at its flagship store on Madison Avenue
+6	Wednesday , it will unveil a $ 7 million refurbishing at its flagship store on Madison Avenue	With newly installed escalators , the store retains its signature wood-and-brass look but is less intimidating
+5	With newly installed escalators , the store retains its signature wood-and-brass look but is less intimidating	More shirts and sweaters will be laid out on tables , instead of sitting behind glass cases , so that customers can `` walk up and touch them
+2	Because the biggest growth in menswear is in casual sportswear , Brooks Brothers is chasing more of that business	The entire second floor of its Madison Avenue store is now casual sportswear featuring items such as ski sweaters , leather backpacks and a $ 42 wool baseball hat with the store 's crest
+6	Because the biggest growth in menswear is in casual sportswear , Brooks Brothers is chasing more of that business	The entire second floor of its Madison Avenue store is now casual sportswear featuring items such as ski sweaters , leather backpacks and a $ 42 wool baseball hat with the store 's crest
+2	The centerpiece of the overhaul , according to Mr. Roberti , is the men 's tailored clothing department , where Brooks Brothers has added new suit styles and fabrics	The perception out there is that we are very conservative and we only sell one type of suit
+5	to add suits cut for athletic men with broader upper bodies	Next spring , nearly 30 % of its suits will have pleated pants , compared with virtually none a couple of years ago
+1	Ferro Corp. said it will buy back as many as one million common shares	The maker of chemical and industrial materials did n't say how much it would pay or when it would make the transactions
+1	and Mr. Price could n't be reached on Friday	In the TVS statement , Mr. Price said `` leaving MTM was a very difficult decision , '' but added that `` it is now time for a change . . .
+5	Mr. Gatward has spent a lot of time since late September at MTM 's headquarters	he eliminated three departments and fired six executives , according to the TVS spokesman
+5	he eliminated three departments and fired six executives , according to the TVS spokesman	Further staff cuts are likely
+3	Further staff cuts are likely	Obviously , we are looking at making economies across the board
+2	TVS blames difficulties in peddling reruns of MTM shows to U.S. broadcasters for the problems at MTM	The market for reruns sold to local U.S. broadcasters has been weak for the past three or four seasons
+1	that at the close of business Thursday , 5,745,188 shares of Connaught and C $ 44.3 million face amount of debentures , convertible into 1,826,596 common shares , had been tendered to its offer	11,580 common shares had been tendered to their offer
+5	At the close of business Thursday , Ciba-Geigy and Chiron said 11,580 common shares had been tendered to their offer	At last report , Connaught had 21.8 million shares outstanding
+1	The insurance concern said all conversion rights on the stock will terminate on Nov. 30	the stock remains convertible into common stock at the rate of 1.439 shares of common stock for each share of preferred stock , which is equivalent to a conversion price of $ 17.50 a common share
+2	If the case is converted to Chapter 7 , what remains of the oil tycoon 's once-vast estate -- now believed to have a value of less than $ 125 million -- would be sold off quickly with most of the proceeds going to the Internal Revenue Service , whose claim for $ 300 million in back taxes has priority in the case	Hundreds of smaller creditors could get nothing , according to attorneys involved
+2	It would be a shame to have a Chapter 7 after all the progress in this case	Under Chapter 11 of the Federal Bankruptcy Code , a company continues to operate under protection from creditors ' lawsuits while it works out a plan to pay its debts
+1	Under Chapter 11 of the Federal Bankruptcy Code , a company continues to operate under protection from creditors ' lawsuits while it works out a plan to pay its debts	Under Chapter 7 , the assets of a company are sold off to pay creditors
+4	Under Chapter 11 of the Federal Bankruptcy Code , a company continues to operate under protection from creditors ' lawsuits while it works out a plan to pay its debts	Under Chapter 7 , the assets of a company are sold off to pay creditors
+1	Under prodding from Judge Abramson , a Minpeco executive flew in from Peru last week to talk directly with executives from Manufacturers Hanover on a settlement	Despite long private sessions in both New York and Dallas , the two sides ended the week `` 6,000 miles and many dollars apart , '' according to attorney Hugh Ray , who represents Manufacturers Hanover
+5	All three major creditors -- the IRS , Minpeco and Manufacturers Hanover -- voted against and effectively doomed a reorganization plan proposed by Mr. Hunt	A reorganization plan proposed jointly by the IRS and Manufacturers Hanover was stalled by a negative vote from Minpeco
+5	A reorganization plan proposed jointly by the IRS and Manufacturers Hanover was stalled by a negative vote from Minpeco	The mineral concern 's own reorganization plan met a similar fate after opposition from the IRS and Manufacturers Hanover
+8	Meanwhile , settlement negotiations continue between Mr. Hunt and the IRS	The two sides have been far apart on how much Herbert Hunt will continue to owe the government after his assets are sold
+5	Old Stone 's construction lending portfolio includes about $ 250 million in real-estate loans outstanding	The unit has 30 employees in four California offices
+5	it had a pre-tax gain on the transaction of $ 57 million , including its part of Brae 's gain	it expects to escape taxes on `` a substantial portion of the gain
+1	If all the debt is converted to common , Automatic Data will issue about 3.6 million shares	last Monday , the company had nearly 73 million shares outstanding
+1	The offer previously had been scheduled to expire at midnight Friday	it extended the offer to allow shareholders time to review a supplement to the Dow Jones tender offer circular that it mailed last Friday
+2	In Delaware Chancery Court litigation , Telerate has criticized Dow Jones for not disclosing that Telerate 's management expects the company 's revenue to increase by 20 % annually , while Dow Jones based its projections of Telerate 's performance on a 12 % revenue growth forecast	In the tender offer supplement , Dow Jones discloses the different growth forecasts but says it views the 20 % growth rate `` as a hoped-for goal '' of Telerate 's management `` and not as a realistic basis on which to project the company 's likely future performance
+1	Telerate shares fell 50 cents on Friday to close at $ 20 each in New York Stock Exchange composite trading	Dow Jones shares also fell 50 cents to close at $ 36.125 in Big Board composite trading
+5	Telerate provides information about financial markets through an electronic network	Dow Jones , which owns 67 % of Telerate , publishes The Wall Street Journal , Barron 's magazine , community newspapers and operates financial news services and computer data bases
+5	Norman J. Harrison , chairman , will succeed him as chief executive	Roger L. Sutton , executive vice president , was appointed as the new president and chief operating officer
+5	Roger L. Sutton , executive vice president , was appointed as the new president and chief operating officer	Kerry P. Charlet will become executive vice president , and retain his positions as chief financial officer and treasurer
+2	Upset over the use of what it says are its exclusive trademarks , Hells Angels Motorcycle Corp. is fighting back -- in court	Concord New Horizons Corp. , creators of a 1988 movie called Nam Angels , used the gang 's name and trademarks without authorization
+2	There is absolutely no way our board or membership would have approved the portrayal of the Hells Angels in this movie	Portrayal of our members as disloyal to each other is totally contrary to the most important values of our organization -- loyalty and trust
+1	Nam Angels shows Angels fighting with each other and also depicts them as showing no remorse when a member is killed	Both of these actions are n't characteristic of real Hells Angels
+1	The world had a big yuk recently when the Soviets reported a rash of UFO landings , one of them bringing tall aliens who glowed in the dark to Voronezh	It is the opinion of Timothy Good , author of `` Above Top Secret : The World UFO Cover-Up '' ( Quill/William Morrow , 592 pages , $ 12.95 ) , that the world laughs too fast
+6	Here is a bible for UFO watchers , complete with pictures of people who say they 've had personal relationships with aliens	One photo shows a woman sporting a scar she says was made by a laser beam ( a low-caliber weapon , from the looks of the wound )
+6	So far anyway , our alien visitors seem more intent on brightening our skies than pulverizing us	Mr. Good devotes much serious space to the events of Feb. 25 , 1942 , when American gunners spotted strange lights in the sky above Los Angeles
+9	Mr. Good devotes much serious space to the events of Feb. 25 , 1942 , when American gunners spotted strange lights in the sky above Los Angeles	Air-raid sirens sounded the alarm at 2:25 a.m. , summoning 12,000 air wardens to duty
+2	Ground batteries , targeting an odd assortment of aircraft traveling at highly unusual speeds , opened up a furious fusillade	The sky filled with 12.8-pound shells , several of which fell back to Earth , destroying homes and buildings
+9	The sky filled with 12.8-pound shells , several of which fell back to Earth , destroying homes and buildings	When the smoke cleared , six people were dead ( three from heart attacks ) , and everyone wondered what in the world they were shooting at
+1	but you will just have to make your own decision about such sightings	One thing 's for sure : There have been a ton of them , and greater beings than the editors of the National Enquirer have shown interest
+6	One thing 's for sure : There have been a ton of them , and greater beings than the editors of the National Enquirer have shown interest	Gerald Ford , a fairly down-to-earth fellow , once sent a letter to the chairman of the Armed Services Committee recommending that `` there be a committee investigation of the UFO phenomenon
+2	Gerald Ford , a fairly down-to-earth fellow , once sent a letter to the chairman of the Armed Services Committee recommending that `` there be a committee investigation of the UFO phenomenon	we owe it to the American people to establish credibility regarding UFOs and to produce the greatest possible enlightenment on the subject
+5	If I become president , I 'll make every piece of information this country has about UFO sightings available to the public , and the scientists	I am convinced that UFOs exist because I have seen one
+5	But you know about campaign promises	It still does n't look like governments are coughing up everything they know
+1	For instance , witnesses in Voronezh say the pinheaded behemoths and their robot friend , after strolling around the city park , left behind some rocks	Now why , you have to ask yourself , would intelligent beings haul a bunch of rocks around the universe ?
+6	Or land in Russia so often	In a 1961 incident , a Soviet mail plane disappeared off the radar screen just after radioing its position to ground control in Sverdlovsk
+4	Speculation as to the nature of aliens will no doubt continue until we wake up one morning to find they 've taken over `` The Today Show , '' the way they overwhelm an entire town in Jack Finney 's `` Invasion of the Body Snatchers '' ( Fireside/Simon & Schuster , 216 pages , $ 8.95	Maybe some of our talk-show hosts and anchors have already been taken over
+2	Maybe some of our talk-show hosts and anchors have already been taken over	The point of this 1955 novel , which spawned two movies , is that the soulless pod people replicated by alien plants are virtually indistinguishable from human folks
+8	Another guy who thinks they 're out there and closing fast is Whitley Strieber , whose new novel , `` Majestic '' ( Putnam , 317 pages , $ 18.95 ) , takes a look at a reported 1947 UFO crash near the Roswell Army Air Field in a New Mexico desert	Mr. Strieber knows a lot about aliens
+8	Mr. Strieber knows a lot about aliens	He even had sex with one -- sort of , and not intentionally -- as readers learned in his `` Communion '' ( a book recently described in the New York Times as a `` nonfiction best seller '' )
+9	the intelligence officer who found the craft 's strange debris was forced by the government to call the flower-inscribed scraps parts of a weather balloon	The apparent crash became top secret , and the alien creatures went away upset with the rude ways of human beings
+2	The apparent crash became top secret , and the alien creatures went away upset with the rude ways of human beings	We lost our chance to communicate with sweet-natured visitors `` about four feet tall { who } looked as though they were made of puffed-up marshmallow
+5	it is in far better shape to cope	Investment analysts generally agree
+5	Aside from slashing costs and investing heavily in its plants , Akzo has spent 3.9 billion guilders ( $ 1.88 billion ) on acquisitions since 1983 to give it better balance	During the same period , the company has sold about 1.6 billion guilders of assets
+2	The fibers business now accounts for only 20 % of Akzo 's sales	We have definitely become less cyclical
+2	Still , Akzo has n't yet found a way to achieve another goal : a large presence in the U.S. market for prescription drugs	prices for U.S. pharmaceutical companies remain too high , making it unlikely that Akzo will pursue any major acquisitions in that area
+3	Maybe Akzo can surprise the investment world a bit	Akzo is likely to be one of the few major chemical companies to show profit growth next year
+2	Maybe Akzo can surprise the investment world a bit	Akzo is likely to be one of the few major chemical companies to show profit growth next year
+8	Akzo is likely to be one of the few major chemical companies to show profit growth next year	Akzo will show per-share earnings of 24 guilders in 1990 , up from an estimated 22.5 guilders for this year and the 20.9 guilders reported for 1988
+5	The company is exposed to bulk chemicals , however	Although bulk-chemical prices have begun falling in the U.S. , they are generally stable in Europe
+2	they are generally stable in Europe	A decline may come in the first half of 1990 but the market does n't appear on the verge of a severe downturn
+6	they are generally stable in Europe	A decline may come in the first half of 1990 but the market does n't appear on the verge of a severe downturn
+8	To reduce the danger of such pricing cycles , Akzo has invested heavily in specialty chemicals	Akzo 's biggest move in this area was the 1987 acquisition of Stauffer Chemical Co. 's specialty chemical business for $ 625 million
+5	world-wide industry sales of aramid fibers are expected to total about $ 500 million this year	Sales growth of 10 % a year seems possible
+2	In August , for example , it completed the $ 110 million acquisition of Reliance Universal Inc. , a U.S. maker of industrial coatings for wood , metals and plastics , from Tyler Corp	Akzo is likely to see strong profit growth from coatings as it realizes cost savings and other benefits from its greater scale
+1	but is still seeking regulatory approvals to enter that market in the U.S. and Japan	Akzo hopes to have approval to sell its Marvelon pill in the U.S. in 1992
+2	We 're sorry to see Nigel Lawson 's departure from the British government	He is a politician with the courage of true conviction , as in summarily sacking exchange controls and in particular slashing the top rate of income taxation to 40 %
+6	The early omens scarcely suggest so wholesome an outcome	The Fleet Street reaction was captured in the Guardian headline , `` Departure Reveals Thatcher Poison
+2	British politicians divide into two groups of chickens , those with their necks cut and those screaming the sky is falling	So far as we can see only two persons are behaving with a dignity recognizing the seriousness of the issues : Mr. Lawson and Sir Alan Walters , the counterpoint of the Chancellor 's difficulties , who also resigned as personal adviser to Mrs. Thatcher
+8	The problem is that on the vital issue of monetary policy and exchange rates , conservative , free-market economists divide into at least three incompatible camps	There are the strict monetarists , who believe that floating exchange rates free an economy to stabilize its price level by stabilizing the monetary aggregates
+5	There are the strict monetarists , who believe that floating exchange rates free an economy to stabilize its price level by stabilizing the monetary aggregates	There are the supply-side globalists , who seek to spread the advantages of a common currency through fixed exchange rates
+3	In the British case , Mr. Lawson is the closest thing in London to a supply-side globalist	He not only slashed marginal tax rates , initially sparking fresh growth in Britain , but he wanted to regulate monetary policy by targeting exchange rates , indeed joining the European Monetary System
+2	In the British case , Mr. Lawson is the closest thing in London to a supply-side globalist	He not only slashed marginal tax rates , initially sparking fresh growth in Britain , but he wanted to regulate monetary policy by targeting exchange rates , indeed joining the European Monetary System
+1	He not only slashed marginal tax rates , initially sparking fresh growth in Britain , but he wanted to regulate monetary policy by targeting exchange rates , indeed joining the European Monetary System	While no doubt agreeing with Mr. Lawson on everything else , Sir Alan is a dyed-in-the-wool monetarist , inclined to defend floating rates to the death
+8	that Mr. Lawson 's tax cuts would have profound effects on Britain 's international accounts and the value of sterling	They increased the after-tax rate of return and made Britain a far more attractive place to invest , producing sudden capital inflows
+3	At this point , the options were : Crunch money to stop the boost in the aggregates , as Sir Alan surely advised , and forget the soaring pound	To push the pound even lower trying to cure the trade deficit , a policy Britain has repeatedly proved disastrous
+2	But this devastated the U.S. manufacturing sector , laying the seeds of protectionism	Mr. Lawson , though not allowed to join the EMS , chose to `` shadow '' the deutsche mark
+2	Mr. Lawson , though not allowed to join the EMS , chose to `` shadow '' the deutsche mark	He reaped inflation along with rapid growth , no doubt validating Sir Alan 's predictions in the Prime Minister 's mind
+5	So the British experience presents a genuine puzzle that reaches far beyond the shores of Albion	We had been soliciting opinions on it long before Mr. Lawson 's resignation , and offer some of the collection for the benefit of his successor and one-time deputy , John Major
+8	We should also add Mr. Lawson 's own explanation , as we understand it	Unlike the U.S. , Britain never achieved even a momentary reduction in real wages
+5	Unlike the U.S. , Britain never achieved even a momentary reduction in real wages	The wage stickiness , which OECD studies confirm is particularly high in Britain , gives its economy a structural bias toward inflation
+5	Unlike the U.S. , Britain never achieved even a momentary reduction in real wages.The wage stickiness , which OECD studies confirm is particularly high in Britain , gives its economy a structural bias toward inflation	Inflation is easier to spark and harder to control
+5	Perhaps the fiscal shock of tax cuts is after all best absorbed by floating rates , though of course in the event Mr. Lawson resigned over whether to support a weak pound , not restrain a strong one	that Mr. Roberts not only chides the Chancellor for being too easy because of a desire to constrain sterling , but also led the chorus saying that Mr. Volcker was too tight when he let the dollar rise
+2	that Mr. Roberts not only chides the Chancellor for being too easy because of a desire to constrain sterling , but also led the chorus saying that Mr. Volcker was too tight when he let the dollar rise	Somewhere in between there must be a golden mean , perhaps measured by M-Whatever , but perhaps measured by purchasing power parity
+4	In fixing rates the choice of initial parities is crucial , for example , and perhaps he picked the wrong pound-DM rate	For that matter , perhaps he fixed to the wrong currency
+8	For that matter , perhaps he fixed to the wrong currency	We sympathize with Mrs. Thatcher 's reluctance to tie her currency to one governed by the domestic political imperatives of West Germany
+5	We sympathize with Mrs. Thatcher 's reluctance to tie her currency to one governed by the domestic political imperatives of West Germany	Perhaps the shock would have been less if they 'd fixed to another low-tax , deregulated , supply-side economy
+2	that the unrecognized inflationary culprit is the budget surplus	that the retirement of gilts for cash is equivalent to an expansionary open-market operation
+4	In particular , `` shadowing '' a currency is anything but fixing	it is an open announcement that the exchange rate target has no credibility
+2	All the more so when strong voices are heard opposing the policy	Better to have a true monetarist policy , just for the experience
+2	What Mr. Major and Mrs. Thatcher will do now remains to be seen	They confront stubborn inflation and a sagging economy , that is to say , stagflation
+1	They confront stubborn inflation and a sagging economy , that is to say , stagflation	This can not be solved by provoking a further downturn
+2	This can not be solved by provoking a further downturn	reducing the supply of goods does not solve inflation
+2	This can not be solved by provoking a further downturn ; reducing the supply of goods does not solve inflation	Our advice is this : Immediately return the government surpluses to the economy through incentive-maximizing tax cuts , and find some monetary policy target that balances both supply and demand for money
+4	This can not be solved by provoking a further downturn ; reducing the supply of goods does not solve inflation	Our advice is this : Immediately return the government surpluses to the economy through incentive-maximizing tax cuts , and find some monetary policy target that balances both supply and demand for money
+4	This can not be solved by provoking a further downturn ; reducing the supply of goods does not solve inflation	Our advice is this : Immediately return the government surpluses to the economy through incentive-maximizing tax cuts , and find some monetary policy target that balances both supply and demand for money
+2	Immediately return the government surpluses to the economy through incentive-maximizing tax cuts , and find some monetary policy target that balances both supply and demand for money	This was the version of supply-side economics that , in the late 1970s and early '80s , worked in America and world-wide to solve a far more serious stagflation than afflicts Britain today
+2	he hopes to improve client service	Ogilvy under the fastidious Mr. Roman gained a reputation as occasionally being high-handed in its treatment of clients , of preaching what strategy a client should -- indeed , must -- follow
+2	He also plans to get to know clients that Mr. Roman was closer to , such as Lever Brothers , American Express and Seagram	The two men are planning joint visits to a number of clients to attempt to smoothly hand over the reins
+2	The two men are planning joint visits to a number of clients to attempt to smoothly hand over the reins	Clients want to see more of our senior people involved in the business -- not once a month , but two or three times a week
+2	Under the reorganization , Ogilvy plans to name one executive on each account as a `` client service director '' to work as the client 's single contact for all those services	There is little or no integration of our work , quality is spotty , there is no single focus
+2	Industry executives and analysts are divided on whether Mr. Phillips is up to the task	He is n't as well-known to clients as is Mr. Roman
+6	Industry executives and analysts are divided on whether Mr. Phillips is up to the task	He is n't as well-known to clients as is Mr. Roman
+5	He is n't as well-known to clients as is Mr. Roman	Under his watch , office politicking was often rampant in the agency 's New York operation and the office there has had a dismal new-business record for more than a year
+2	The one thing Mr. Phillips clearly does have going for him is continuity , although it is n't certain if that will be enough	The last thing they need is enormous disruption at the top . . . and Graham is obviously a long-term member of the Ogilvy Mafia , as we call it
+8	that the company 's profitability was dragged down this year by an expensive move to luxurious , oversized new New York headquarters	The move , budgeted at about $ 7 million , actually came in at about $ 10 million
+8	But margins will be helped , too , by some other cost-saving steps	Ogilvy eliminated the mail room staff , closed the executive dining room and , after the takeover , let go half a dozen financial executives
+5	let go half a dozen financial executives	WPP instituted a new financial system and plans to sublet some floors in Ogilvy 's new headquarters building to outsiders
+10	let go half a dozen financial executives	WPP instituted a new financial system and plans to sublet some floors in Ogilvy 's new headquarters building to outsiders
+2	Mr. Klein decided to remove himself to minimize `` negative reaction '' from prospective clients and others and to prepare for his defense	The fact that he is in the process of defending himself against the present charges could conceivably have an adverse impact on Y & R
+1	The fact that he is in the process of defending himself against the present charges could conceivably have an adverse impact on Y & R	Mr. Klein will return to his post at the end of the trial `` at which he will be vindicated
+1	The agency , with about $ 35 million in billings , will be dissolved , with some of its staffers absorbed by WCRS 's Della Femina McNamee unit in Boston	it was too early to say what would happen to its clients , including Reebok and Apple
+8	At Wells Rich , Ms. Heller will concentrate on accounts that include Philip Morris 's Benson & Hedges cigarette brand , which relies on print ads , Ms. Heller 's specialty	the account is troubled , with Philip Morris asking Backer Spielvogel Bates , Ogilvy & Mather , and possibly others to try their hand at developing new creative work
+8	The net loss for the quarter was $ 43.1 million against a year-earlier loss of $ 106 million	The loss in the fourth quarter of 1988 reflected in part expenses for an unsuccessful bid for Federated Department Stores Inc. , as well as the restructuring of some of its department store operations
+5	For the year , sales were up 5.6 % to $ 6.97 billion compared with $ 6.61 billion in fiscal 1988	Sales for both years reflect 12-month performances for each year of I. Magnin , Bullock 's , and Bullocks Wilshire
+1	The $ 833.6 million figures includes the new acquisitions	Excluding those businesses , earnings before interest , taxes and depreciation for 1988 would have been $ 728.5 million
+8	The company estimates its total debt at about $ 5.2 billion	This includes $ 4.6 billion of long-term debt , $ 457.5 million in short-term debt , and $ 95.7 million of the current portion of long-term debt
+2	that he expects the company to `` benefit from some of the disruption faced by our competitors	While our competitors are concerned with their financial viability and possible ownership changes , we will be concentrating on buying and selling merchandise our customers need and want
+5	Those chains include Bloomingdale 's , which Campeau recently said it will sell	Other retail properties for sale include Saks Fifth Avenue and Marshall Field , retailers now owned by B.A.T PLC , the British tobacco conglomerate
+5	The sale , which had been expected , is part of KKR 's program to pay down $ 5 billion of a $ 6 billion bridge loan by February	Roughly $ 2 billion of that debt has already been repaid from previous asset sales , and RJR expects to use another $ 2 billion from the pending , two-part sale of most of its Del Monte unit
+8	Louis Gerstner Jr. , chairman and chief executive officer of New York-based RJR , called the sale a `` significant step '' in the company 's divestiture program , as well as a `` a strategic divestiture	Since KKR bought RJR in February for $ 25 billion of debt , it has agreed to sell nearly $ 5 billion of RJR assets
+4	they will dispense with certain brands , in particular , that are n't leaders in their markets	RJR Nabisco and Planters LifeSavers will concentrate more on our own core businesses
+1	Baby Ruth and Butterfinger are both among the top-selling 15 chocolate bars in the U.S. , but RJR 's overall share of the roughly $ 5.1 billion market is less than 5 %	Nestle 's share of 7 % before Friday 's purchases is far below the shares of market leaders Hershey Foods Corp. and Mars Inc. , which have about 40 % and 36 % of the market , respectively
+8	This means Nestle is now in the candybar business in a big way	For them , it makes all kinds of sense
+2	For them , it makes all kinds of sense	They 've been given a mandate from Switzerland '' to expand their U.S. chocolate operations
+1	Catastrophe losses reduced Aetna 's net income by $ 50 million , including $ 36 million from Hugo	Last year catastrophe losses totaled $ 5 million , when net was $ 235.5 million , or $ 2.07 a share
+5	In the latest quarter , Aetna had a $ 23 million loss on its auto/homeowners line , compared with earnings of $ 33 million last year	Profit for its commercial insurance division fell 30 % to $ 59 million , reflecting higher catastrophe losses and the price war in the property/casualty market for nearly three years
+5	Here , at a soccer stadium near the black township of Soweto yesterday , were eight leaders of the African National Congress , seven of whom had spent most of their adult lives in prison for sabotage and conspiracy to overthrow the government	Here were more than 70,000 ANC supporters , gathering for the first ANC rally inside South Africa since the black liberation movement was banned in 1960
+5	Here , at a soccer stadium near the black township of Soweto yesterday , were eight leaders of the African National Congress , seven of whom had spent most of their adult lives in prison for sabotage and conspiracy to overthrow the government.Here were more than 70,000 ANC supporters , gathering for the first ANC rally inside South Africa since the black liberation movement was banned in 1960	Here was the state security appartus poised to pounce on any words or acts of provocation , let alone revolution
+6	But the words that boomed over the loudspeakers bore messages of peace , unity , negotiation and discipline	We stand for peace today and we will stand for peace tomorrow
+5	We stand for peace today and we will stand for peace tomorrow	Viva peace , viva
+2	These are curious times in South African politics	The government and the ANC , the bitterest of enemies , are engaged in an elaborate mating dance designed to entice each other to the negotiating table
+2	The government and the ANC , the bitterest of enemies , are engaged in an elaborate mating dance designed to entice each other to the negotiating table	Pretoria releases the ANC leaders , most of whom were serving life sentences , and allows them to speak freely , hoping that the ANC will abandon its use of violence
+5	Pretoria releases the ANC leaders , most of whom were serving life sentences , and allows them to speak freely , hoping that the ANC will abandon its use of violence	The ANC leaders speak in tones of moderation , emphasizing discipline , hoping the government will be encouraged to take further steps , such as freeing Nelson Mandela , the most prominent ANC figure , and unbanning the organization
+6	The result is that the unthinkable and illogical are happening	Six months ago , government approval for an ANC rally was inconceivable
+8	Equally inconceivable is that the ANC , given the chance to hold a rally , would extend a hand , albeit warily , to the government	In a message read out at the rally , exiled ANC President Oliver Tambo , who ca n't legally be quoted in South Africa , said the country was at a crossroads and that Mr. de Klerk `` may yet earn a place among the peacemakers of our country '' if he chooses a `` path of genuine political settlement
+6	The ANC vows to keep up pressure on the government	Speakers yesterday called on foreign governments to increase sanctions against Pretoria and urged supporters inside the country to continue defying emergency restrictions and racial segregation , known as apartheid
+2	Speakers yesterday called on foreign governments to increase sanctions against Pretoria and urged supporters inside the country to continue defying emergency restrictions and racial segregation , known as apartheid	We can not wait on the government to make changes at its own pace
+4	Because the ANC remains banned , both the government and the organizers denied it was an ANC rally	They both called it a `` welcome home '' gathering
+5	The recently released leaders sat high atop a podium in one section of the stadium stands	Behind them was a huge ANC flag and an even bigger sign that said `` ANC Lives , ANC Leads
+5	Behind them was a huge ANC flag and an even bigger sign that said `` ANC Lives , ANC Leads	Next to them was the red flag of the outlawed South African Communist Party , which has long been an ANC ally
+5	Next to them was the red flag of the outlawed South African Communist Party , which has long been an ANC ally	In the stands , people waved ANC flags , wore ANC T-shirts , sang ANC songs and chanted ANC slogans
+2	There can be no question of us unilaterally abandoning the armed struggle	To date , we see no clear indication that the government is serious about negotiations
+2	To date , we see no clear indication that the government is serious about negotiations	All their utterances are vague
+8	For the first time since the mid-1970s , Westinghouse this year has seen a significant increase in orders for power plants	Most are from independent producers instead of regulated utilities
+8	predicting that the revived market could significantly boost Westinghouse 's bottom line in coming years	Westinghouse 's earnings could be materially enhanced in the mid-1990s or sooner
+2	Westinghouse 's earnings could be materially enhanced in the mid-1990s or sooner	The company expects a need for 140,000 megawatts of new generation in the U.S. over the next decade
+5	The company expects a need for 140,000 megawatts of new generation in the U.S. over the next decade	Already this year , it has received orders for four 150-megawatt advanced combustion turbines from Florida Power & Light Co. and for two 300-megawatt plants from Intercontinental Energy Corp. , among others
+2	Westinghouse 's own role as a supplier also is changing	In the past , the company usually took token equity positions in power plants it supplied as a `` kicker '' to close deals
+8	its venture with Mitsubishi will help fend off growing competition , particularly in the U.S. , from such European competitors as Asea Brown Boveri AG , Siemens AG , and British General Electric Co	Under the agreement , Westinghouse will be able to purchase smaller combustion turbines from its Japanese partner , and package and sell them with its own generators and other equipment
+8	The Westinghouse-Mitsubishi venture was designed as a non-equity transaction , circumventing any possible antitrust concerns	Westinghouse carefully crafted the agreement
+8	that the current surge in demand for new power will be filled primarily by independent producers which , unlike utilities , are n't regulated and therefore do n't need government approval to construct new plants	Westinghouse expects about half of its new orders for turbines to come from independent producers for at least the next six years
+2	Even if that scenario occurs , Westinghouse figures it is prepared	The company already is gearing up for a renaissance of nuclear power even though it has n't received an order for a domestic nuclear plant in a decade
+6	Even if that scenario occurs , Westinghouse figures it is prepared	The company already is gearing up for a renaissance of nuclear power even though it has n't received an order for a domestic nuclear plant in a decade
+8	The company already is gearing up for a renaissance of nuclear power even though it has n't received an order for a domestic nuclear plant in a decade	he expects a commercial order by 1995 for the company 's AP600 nuclear power plant , which is under development
+8	a commercial order by 1995 for the company 's AP600 nuclear power plant , which is under development	Once we see an order it 'll be on line by 2000
+8	that the Richter scale , which measures earthquakes , is n't like the one in your bathroom	A quake that measures two on the Richter is n't twice as severe as a `` one '' -- it 's 10 times worse
+5	A quake that measures two on the Richter is n't twice as severe as a `` one '' -- it 's 10 times worse	A `` three '' is 10 times 10 again , and so on
+2	A quake that measures two on the Richter is n't twice as severe as a `` one '' -- it 's 10 times worse.A `` three '' is 10 times 10 again , and so on	That put the `` seven '' of Oct. 17 in perspective for me
+2	That put the `` seven '' of Oct. 17 in perspective for me	Think I 'll buy one of those `` I Survived '' T-shirts after all
+8	By Richterian standards , the show that the Oakland Athletics put on Friday and Saturday nights , in putting a mercifully swift end to the game 's Longest Short Series , rated somewhere between a 10 and an 11	but they certainly did some impressive things with baseballs
+8	The joke here is that the Giants lost by de fault	That 's geologically correct , but a trifle unfair otherwise
+2	but a trifle unfair otherwise	They showed up , but did n't -- or could n't -- challenge
+5	I went out to Todd { Burns , the A 's reliever } and told him that we were n't gon na let this guy beat us	I told him to make Mitchell reach for everything
+8	I told him to make Mitchell reach for everything , and that 's what we did	The ball he hit was n't a strike
+5	The ball he hit was n't a strike	If it had been , he mighta hit it out
+5	But if the A 's had n't won in four , they would have prevailed in five , or six , or seven	The best team won this Series
+2	The best team won this Series , which is more unusual than it may sound	Baseball ai n't football , where the good teams beat up on the bad ones
+5	Baseball ai n't football , where the good teams beat up on the bad ones	The best baseball teams win six of 10 games and the worst win four of 10
+2	The best baseball teams win six of 10 games and the worst win four of 10	that several recent champions of the world according to us ( as in U.S. ) might not have ranked No . 1 in many polls
+6	that several recent champions of the world according to us ( as in U.S. ) might not have ranked No . 1 in many polls	That list includes last season 's champs , the Los Angeles Dodgers , who rode a miracle home run by Kirk Gibson and two faultless pitching performances by Orel Hershiser to a five-game triumph over a bewitched , bothered Oakland crew
+2	These A 's , however , got few grades as low as B on their 1989 report card	They led the Major Leagues in regular-season wins with 99 and flattened the Toronto Blue Jays four games to one for the American League pennant before stomping their cross-bay rivals
+5	They led the Major Leagues in regular-season wins with 99 and flattened the Toronto Blue Jays four games to one for the American League pennant before stomping their cross-bay rivals	The pithiest testimony to their domination of the just-concluded tournament came from Giants ' manager Roger Craig after his team had fallen in Game Three to a five-home-run barrage that tied a 61-year-old Series record
+8	The pithiest testimony to their domination of the just-concluded tournament came from Giants ' manager Roger Craig after his team had fallen in Game Three to a five-home-run barrage that tied a 61-year-old Series record	that he might play his outfielders deeper , `` maybe on the other side of the fence
+6	The A 's offensive showing in the Series got an A , as in awesome	Their 85 total bases broke a record for a four-game set
+5	Their 85 total bases broke a record for a four-game set , and their nine home runs tied one	Eight Oakland players hit homers , with centerfielder Dave Henderson getting two , both on Friday
+5	Their 85 total bases broke a record for a four-game set , and their nine home runs tied one.Eight Oakland players hit homers , with centerfielder Dave Henderson getting two , both on Friday	Rickey Henderson , the do-everything leadoff man , had nine hits and set or tied four-game Series marks for triples ( 2 ) and stolen bases ( 3 )
+2	The sole A not to homer was cleanup hitter Mark McGwire , their regular-season leader with 33 , and he contributed five hits plus a diving fielding play on a ground ball in Game Three that stopped a Giant rally while the issue still was in doubt	Think I 'll redo my image -- get this changed to a glove
+2	Even with that power show , though , the Oakland Series ' star , certified by the Most Valuable Player award , was a pitcher , Dave Stewart	He shut out the Giants on five hits in Game One , and allowed three runs on five hits in seven innings Friday after the 12-day break caused by the earthquake
+5	One was that , despite his 62 regular-season wins over the past three seasons in the Land Beyond the Late News , he has been overshadowed by his more-muscular mates and missed out on prizes that might have been his due	The other is that he 's an Oakland native , and lifted residents ' spirits by his visits to quake-hit areas last week
+8	he thought his championship-team ring would outshine his individual trophy	Give me four or five more Series with these guys , and I do n't care if I ever win a Cy Young
+2	that Sandy Alderson , the team 's general manager , felt obliged to dampen it	People change , teams change , '' he cautioned
+5	People change , teams change	It 's easier to get worse than better in this game
+10	The last Series sweep , by the Cincinnati Reds , came in 1976 , which also was the first year of baseball player free agency	It was widely predicted that free agency would allow the glamorous , `` big market '' teams to monopolize the best talent
+5	Twelve different clubs have won titles in the 14 seasons since its advent	The number includes such unstylish burgs as , well , Oakland
+4	But in the real world , you learn that speed and quality are not a trade-off	Speed is a component of quality -- one of the things we must deliver to satisfy customers
+2	Companies that actually market speed as part of their service train their managers to lead and participate in teams that increase speed and improve quality in everyday operations	Managers learn to spot opportunities to increase customer satisfaction through speed , and shift some responsibility for analyzing , improving and streamlining work processes from themselves to teams of employees
+8	One team at the Federal Express Ground Operations station in Natick , Mass. , focused on a particularly time-sensitive operation : the morning package sort	Every morning , tractor-trailer trucks arrive at the Natick Ground Station from Boston 's Logan Airport , carrying the day 's package load.In peak periods that load may include 4,000 pieces.The packages must be sorted quickly and distributed to smaller vans for delivery , so couriers can be on the road by 8:35
+5	Every morning , tractor-trailer trucks arrive at the Natick Ground Station from Boston 's Logan Airport , carrying the day 's package load	In peak periods that load may include 4,000 pieces
+5	In peak periods that load may include 4,000 pieces	The packages must be sorted quickly and distributed to smaller vans for delivery , so couriers can be on the road by 8:35
+2	The packages must be sorted quickly and distributed to smaller vans for delivery , so couriers can be on the road by 8:35	No customer is present at the morning package sort , but the process is nevertheless critical to customer satisfaction
+2	We 're committed to deliver the customer 's package by a stated time , usually 10:30	The sooner our vans hit the road each morning , the easier it is for us to fulfill that obligation
+9	until we completed our data gathering	We used the data to redesign our sorting system and put our resources where they could do the most good
+5	We used the data to redesign our sorting system and put our resources where they could do the most good	The team even created a points system to identify those couriers and subgroups that were doing the most to reduce package-sort cycle time
+9	to identify those couriers and subgroups that were doing the most to reduce package-sort cycle time	Winners of the friendly competition earn a steak dinner out with their spouses
+6	Monitoring shows that the Natick team 's new system really does reduce cycle time for the morning package sort	The vans leave at least 15 minutes earlier , on average , than they used to
+2	each department developed its specialized contribution to the proposal , submitting data and cost estimates on a closely managed schedule	We cleared up questions and inconsistencies very quickly , because the people who had the skills and perspective required to resolve them were part of the task team
+5	The team trimmed more than two months from the cycle time previously required to develop comparable proposals	The team eliminated the crisis mentality that proposal deadlines can generate
+8	that managing speed may be an underutilized source of competitive advantage	Managers in all three companies recognize speed as a component of quality and a key to customer satisfaction
+2	Managers in all three companies recognize speed as a component of quality and a key to customer satisfaction	They effectively lead team efforts to reduce cycle time
+2	I think it is a nail in the coffin in any royalty tax proposal	What { the report } shows is everything we 've been saying for the past eight or nine years -- that audio taping is the best thing to happen for the recording industry
+2	that audio taping is the best thing to happen for the recording industry	The people who tape the most buy the most
+5	Under current copyright laws , it is considered `` fair use '' to reproduce copyrighted material for one 's personal use or for use by one 's family or friends , while copying for purposes of resale or profit is prohibited	that most people consider home copying for such personal use a `` right '' -- a right , moreover , that was exercised by 40 % of Americans over the age of 10 in the past year
+4	Switzerland 's most famous raider says he is n't one	Werner K. Rey believes fortunes are made by being friendly
+8	And in little more than a decade of being friendly the 46-year-old Mr. Rey has grown from a modest banker to a billionaire	He achieved this in part with an uncanny talent for getting his foot peacefully in the door of established European companies
+9	This will be his return on an original investment of between 50 million Swiss francs and 80 million Swiss francs	Mr. Rey bought a controlling stake in Inspectorate for 18 million Swiss francs in 1982 , building up the little-known engineering company with European and U.S. acquisitions
+5	Home is an estate with green meadows opening onto Lake Geneva and a low-slung house whose rooms overlook the water and offer a view of the French Alps	In the corner of his reception room is a delicate antique desk piled high with dossiers
+5	In the corner of his reception room is a delicate antique desk piled high with dossiers	There is a small Renoir on the wall
+5	Mr. Rey as having a fortune of about 1.5 billion Swiss francs	No one in Switzerland ever came so far so fast
+5	No one in Switzerland ever came so far so fast	He was simply the first in this country to realize that treasures were just lying around waiting to be picked up
+9	Sitting beside a banker at a luncheon in London he learned that a large packet of Bally 's shares was up for sale	Looking into Bally , he could hardly believe what he saw : a company with enormous real-estate holdings in major European cities and a market capitalization of 28 million Swiss francs ; it had 7,000 employees
+5	Looking into Bally , he could hardly believe what he saw : a company with enormous real-estate holdings in major European cities and a market capitalization of 28 million Swiss francs	it had 7,000 employees
+2	But such tactics were alien to Switzerland in 1976	Eventually , Mr. Rey was forced to sell his Bally shares to the weapons maker Oerlikon-Buehrle Holding AG as establishment pressure grew on this hostile move into the Swiss old boys ' network
+5	Mr. Rey made 50 million Swiss francs on the sale	Bally was not an unfriendly takeover
+2	Bally was not an unfriendly takeover	Buying from willing shareholders makes an unfriendly takeover impossible
+5	Buying from willing shareholders makes an unfriendly takeover impossible	I bought from willing shareholders
+10	In 1979 , his career as an industrialist began with the acquisition of the Swiss metals works Selve , based in Thun	With the nonferrous metals business undermined in Switzerland by tough foreign competition and high domestic costs , this looked like a dull undertaking
+2	But Mr. Rey brought about a merger in the next few years between the country 's major producers	the increased efficiency has perked up the industry
+9	But Mr. Rey brought about a merger in the next few years between the country 's major producers	the increased efficiency has perked up the industry
+9	A major boost to Mr. Rey 's respectability among the Swiss came in 1986 when he sold 60 % of his Phibro Bank to the conservative Swiss cantonal banks	They renamed it Swiss Cantobank and are using it to expand abroad
+9	They renamed it Swiss Cantobank and are using it to expand abroad	In 1987 , Mr. Rey bested leading publishing houses to take over Switzerland 's Jean Frey AG , a major producer of magazines and newspapers
+2	And with the recent acquisition of 30 % of Winterthur-based machinery manufacturer Gebrueder Sulzer AG , Mr. Rey has enjoyed the status of white knight	Sulzer preferred him to financier Tito Tettamanti , whose secretive raid on the company 's stock had led to a bitter battle
+2	For financial analysts , reading Omni 's accounts is a tough challenge	Companies move in and out
+6	that Mr. Rey is attracted to companies that are undervalued on the basis of their real-estate interests	In August , Omni unexpectedly bought Inspectorate 's 80 % stake in Harpener AG of West Germany , a land-rich company
+2	In August , Omni unexpectedly bought Inspectorate 's 80 % stake in Harpener AG of West Germany , a land-rich company	it makes sense for Inspectorate-Adia to focus on its main businesses of product inspection and temporary help
+2	the move is yet another example of his conservatism	that companies with real estate give `` security
+2	that companies with real estate give `` security	The real estate can be used as guarantees for bank loans for corporate development
+8	he wants to `` influence '' but not `` manage '' companies	I do n't want to be like { financier Alan } Bond and the other Australians
+2	he wants to `` influence '' but not `` manage '' companies	I do n't want to be like { financier Alan } Bond and the other Australians
+8	I do n't want to be like { financier Alan } Bond and the other Australians	I do n't want companies to be built around me as a person
+4	I do n't want companies to be built around me as a person	I want them to stand alone
+5	Meanwhile , Boeing officials and representatives of the Machinists union met separately last night with a federal mediator in an attempt to break the month-old strike that has shut the aerospace giant 's assembly lines at a time when it has an $ 80 billion backlog of jetliner orders	The two sides were scheduled to meet with the mediator this morning
+1	Machinists already have rejected a package that would provide a 10 % pay raise plus bonuses over the three-year life of the contract	Boeing has said repeatedly it wo n't expand its offer
+2	However , the resolve of some of the striking 57,000 machinists might be weakening	About 1,000 strikers signed petitions last week calling for Boeing and Machinists representatives to schedule new meetings
+2	its military business is feeling the effects of a declining defense budget after a strong buildup during the Reagan presidency	In May , the company consolidated its Aerospace and Electronics groups ; the new Defense and Space Group will contain the Aerospace and Electronics division and Advanced Systems , both based in the Seattle area ; Boeing Helicopters in Philadelphia ; Boeing Military Airplanes in Wichita , Kan. , and ArgoSystems in Sunnyvale , Calif
+8	In addition it also will reorganize all its work in Wichita into military and commercial divisions	All of the changes will reduce its overhead and streamline operations
+6	Analysts agreed	It 's a further step to better returns in the hemorrhaging defense business , '' said Steven Binder , an analyst with Bear , Stearns & Co. in New York
+2	It 's a further step to better returns in the hemorrhaging defense business	They had to do it
+8	the shift reflects Boeing confidence in Mr. Pinick , described by Mr. Rubel as an expert on doing business with the military	His side of the business has been successful in a tough environment
+2	The U.S. had been under pressure from several Cocom members , especially France , West Germany and Italy , to ease restrictions on some types of machine tools , which those countries argued were now widely available to East Bloc countries from non-Cocom members	For several years some European countries have complained that outdated Cocom lists and restrictions served more to hamper their trade than to add to Western security
+5	representatives at the meeting decided that this was `` a matter for further discussion at future meetings	that `` all of us ( Cocom members ) look at the changes in Hungary and Poland in a positive way , but a question of this scope deserves further discussion and study
+5	The U.S. officials said that despite the rapid changes under way in Eastern Europe and the Soviet Union , all the Cocom members agreed on `` the continuing need for this organization , '' which was founded 40 years ago at the start of the Cold War	The officials said the meeting agreed to continue working toward `` streamlining '' Cocom 's restricted products list , and to improve procedures for punishing companies that do n't comply with the export restrictions
+5	The U.S. officials said that despite the rapid changes under way in Eastern Europe and the Soviet Union , all the Cocom members agreed on `` the continuing need for this organization , '' which was founded 40 years ago at the start of the Cold War.The officials said the meeting agreed to continue working toward `` streamlining '' Cocom 's restricted products list , and to improve procedures for punishing companies that do n't comply with the export restrictions	The officials said this meeting `` put in motion '' procedural steps that would speed up both of these functions , but that no specific decisions were taken on either matter
+8	Unisys is getting clobbered	Just clobbered
+8	Just clobbered	The quarter was terrible , and the future looks anything but encouraging
+5	would be laid off	that should help it save $ 500 million a year in costs , again at the high end of the previously reported range of $ 400 million to $ 500 million
+8	The company also reported slower growth in another important business : systems that use the Unix operating system	That would be a huge problem if it were to continue
+8	In addition , Unisys must deal with its increasingly oppressive debt load	Debt has risen to around $ 4 billion , or about 50 % of total capitalization
+8	he is approaching next year with caution	the strength of the world-wide economy is suspect , and does n't see much revenue growth in the cards
+2	that the price wars flaring up in parts of the computer industry will continue through next year	the move toward standard operating systems means customers are n't locked into buying from their traditional computer supplier and can force prices down
+8	We 've approached this not as a response to a temporary condition in the industry but as a fundamental change the industry is going through	The information-systems industry is still going to be a high-growth business , and we 're confident that we have tremendous assets as a company.But we do n't minimize the challenges of the near term
+6	having been burned repeatedly on Unisys this year	Some had predicted earnings of more than $ 4 a share for this year , up from last year 's fully diluted $ 3.27 a share on earnings of $ 680.6 million
+3	he is cutting his earnings estimate for next year to $ 2 a share from $ 3	I was feeling like I was too high to begin with
+8	whether even that low target is at risk	The break-even point for next year is much lower , but is it low enough
+2	If a TV weatherman gets butterflies facing the camera again after a questionable forecast , Donald H. Straszheim surely understands	The chief economist of Merrill Lynch & Co. finds himself in such a position as he buzzes the Midwest on his first road trip since backpedaling on a major prediction
+2	and he 's right	Since the last time he traveled this way several months ago , he has recanted a series of bold forecasts of a recession
+8	in a splashy ad campaign launched in the summer of 1988 , Merrill Lynch urged investors to buy bonds	It said long-term interest rates , then above 9 % , could drop to 7 % by the end of 1989 , so bonds , which benefit from falling rates , would be a good buy
+8	But this September he took a detour if not a U-turn	He softened the talk about a recession
+8	Two well-known colleagues who believe Mr. Straszheim was right the first time are David Bostian Jr. and A. Gary Shilling , both of whom run their own New York research firms	Mr. Bostian said in August that his macroeconomic index signaled recession
+5	Mr. Bostian said in August that his macroeconomic index signaled recession	Mr. Shilling , who was Merrill Lynch 's chief economist from 1967 to 1971 , has heralded a recession for months
+2	Mr. Shilling , who was Merrill Lynch 's chief economist from 1967 to 1971 , has heralded a recession for months	My own personal opinion is that Don threw in the towel just about the time he should have doubled his bet
+1	that `` it may prove to be the case that we got whipsawed -- that we pulled the recession forecast at just the wrong time	That 's the forecasting business
+2	However risky the business , it 's brisk these days	Wall Street economists are forecasting about everything from broad economic trends to the dinkiest monthly indicator
+4	This is n't the quiet economic science practiced in the universities	This is the commercial version
+2	Mr. Straszheim meets confrontation that often occurs in inverse proportion to the size of the client	No sophisticated professional expects economists to be right all the time
+5	No sophisticated professional expects economists to be right all the time	Some smaller clients do n't seem to notice his switch
+8	Dennis O'Brien , the treasurer of Commonwealth Edison Co. in Chicago , adopts a polite approach , waiting for an opportunity to ask about the forecast	A good half-hour into breakfast at the Palmer House , Mr. O'Brien looks up from his plate after Mr. Straszheim says something about people who believe interest rates are about to nosedive
+9	A good half-hour into breakfast at the Palmer House , Mr. O'Brien looks up from his plate after Mr. Straszheim says something about people who believe interest rates are about to nosedive	I 'm one of them who hope they will , with $ 6 billion in debt on the books
+0	trying to pin down the economist	He does n't fully succeed
+8	In a chilly conference room at Alliance Capital Management in Minneapolis , in contrast , the firm 's money managers seem ready to pin Mr. Straszheim to the wall	Alfred Harrison , the manager , shoves Mr. Straszheim 's handout back at him
+5	It 's all in this handout you do n't want to look at	We could still have a recession '' at some point
+8	that the new outlook , though still weak , does n't justify calling a recession right now . `` It 's all in this handout you do n't want to look at.We could still have a recession '' at some point	One of Mr. Straszheim 's recurring themes is that the state of the economy is n't a simple black or white
+8	that the state of the economy is n't a simple black or white	Sometimes , like now , it 's gray
+9	Another challenges Merrill Lynch 's bond recommendation last year	We 're not running that ad campaign any more
+5	We 're not running that ad campaign any more	I think it was a fairly decent call
+1	We 're not running that ad campaign any more	I think it was a fairly decent call
+6	It 's hard to pin this on one factor	the economy , and especially the employment numbers , look much better than he expected
+5	the economy , and especially the employment numbers , look much better than he expected ; interest rates have generally declined ; inflation has n't run amok	Our business is constantly looking at all these things
+2	Mr. Shilling understands Mr. Straszheim 's problems	There 's unbelievable pressure on economists to forecast these numbers
+2	There 's unbelievable pressure on economists to forecast these numbers	You make a forecast
+2	It is indeed hard to back away from a widely publicized forecast , and Mr. Straszheim is fidgeting with the handcuffs on this trip	His approach to the recantation is direct but low-key
+8	His approach to the recantation is direct but low-key	For some time , we had forecast negative third- and fourth-quarter growth.We pulled that forecast
+0	For some time , we had forecast negative third- and fourth-quarter growth	We pulled that forecast
+9	For some time , we had forecast negative third- and fourth-quarter growth	We pulled that forecast
+5	Crane holds 504,200 Milton Roy shares , including 254,200 bought from Sept. 14 to Thursday for $ 15.50 to $ 16.75 each	In New York Stock Exchange composite trading Friday , Milton Roy shares leaped $ 2 , to $ 18.375 each , while Crane sank $ 1.125 , to $ 21.125 a share
+8	Milton Roy recently fended off unsolicited overtures from Thermo Electron Corp. , a Waltham , Mass. , maker of biomedical products	that it was approached for a possible acquisition by Thermo Electron , which agreed to purchase Milton Roy 's liquid-chromatography line for $ 22 million in February
+9	which agreed to purchase Milton Roy 's liquid-chromatography line for $ 22 million in February	Thermo Electron acquired some 6 % of Milton Roy 's common stock before throwing in the towel and reducing its stake in early September
+0	Gabelli Group began raising its Milton Roy stake in July , and holds 14.6 % , according to a recent SEC filing	It has n't made merger overtures to the board
+8	Last week the British displayed unusual political immaturity	The Chancellor of the Exchequer , Nigel Lawson , resigned because Prime Minister Thatcher would not fire her trusted adviser Sir Alan Walters
+5	The Chancellor of the Exchequer , Nigel Lawson , resigned because Prime Minister Thatcher would not fire her trusted adviser Sir Alan Walters	The opposition Labor Party leader , Neil Kinnock , in a display of the male chauvinism typical of the British lower class , denounced Mrs. Thatcher for having an independent mind and refusing to heed the men in her Cabinet
+5	The opposition Labor Party leader , Neil Kinnock , in a display of the male chauvinism typical of the British lower class , denounced Mrs. Thatcher for having an independent mind and refusing to heed the men in her Cabinet	The British press , making a mountain out of a molehill , precipitated an unnecessary economic crisis by portraying Mrs. Thatcher as an autocrat who had thrown economic policy into confusion by driving a respected figure from her government
+8	Behind the silly posturing lies a real dispute	Mr. Lawson and his European-minded colleagues want the British pound formally tied to the West German mark.Sir Alan considers this an ill-advised and costly policy
+1	Mr. Lawson and his European-minded colleagues want the British pound formally tied to the West German mark	Sir Alan considers this an ill-advised and costly policy
+2	Until his resignation , Mr. Lawson had been conducting British monetary policy as if the pound were tied to the mark	When Mrs. Thatcher cut the top tax rate to 40 % , Mr. Lawson flooded the country with money to prevent the pound from rising against the mark
+2	With inflation surging , the pound began falling against the mark	To keep the exchange rate pegged , Mr. Lawson tightened monetary policy and pushed interest rates up to 15 %
+5	To keep the exchange rate pegged , Mr. Lawson tightened monetary policy and pushed interest rates up to 15 %	This doubled the mortgage interest rates of the many new homeowners that Mrs. Thatcher 's policies had created , producing widespread disaffection and pushing Labor ahead in the polls
+2	This put Mrs. Thatcher in a bind	The concept of European integration is one of those grand schemes that appeal to intellectuals , the media and the imagination , but are full of practical pitfalls
+8	The reason is simple	When a country cuts tax rates , it makes itself more attractive to investors and drives up the value of its currency
+8	It was fear of disturbing EMS exchange-rate relationships that caused the Chirac government in France to be timid about cutting tax rates	Edouard Balladur , the finance minister at the time , was sold on the tax-cut policy but was concerned that his government would be criticized as anti-European for disturbing the linked European currency relationship
+2	The price of attracting capital -- whether one 's own or that of foreigners -- is a trade deficit	To avoid this deficit Mr. Lawson inflated the pound in order to prevent its rise
+0	To avoid this deficit Mr. Lawson inflated the pound in order to prevent its rise	This misguided policy could not prevent a British trade deficit
+2	Consequently , Mr. Lawson saddled Mrs. Thatcher with a record trade deficit , renewed inflation and high interest rates -- three political failures in a row	Little wonder that Mrs. Thatcher 's opponents were so anxious to keep Mr. Lawson in office
+2	It is extraordinary that the British Treasury thought it could prevent a trade deficit by inflating the pound	The British balance-of-payments statistics show that after the top tax rate was cut to 40 % , the flow abroad of British capital slowed , to 50 billion pounds ( $ 79 billion at the current rate ) in 1988 from 93 billion pounds in 1986.This change in the British capital account required an offsetting change in the trade account , a change that could not be prevented by pegging the currency
+5	that after the top tax rate was cut to 40 % , the flow abroad of British capital slowed , to 50 billion pounds ( $ 79 billion at the current rate ) in 1988 from 93 billion pounds in 1986	This change in the British capital account required an offsetting change in the trade account , a change that could not be prevented by pegging the currency
+8	the immense confusion in thought that has been characteristic of Western financial circles during the 1980s	The most important governments have ignored the role of low tax rates in attracting real capital investment , instead emphasizing financial flows in response to high interest rates
+2	The most important governments have ignored the role of low tax rates in attracting real capital investment , instead emphasizing financial flows in response to high interest rates	This has led them in a fruitless and destructive policy circle
+8	First comes monetary expansion to drive down the currency 's value that was pushed up by tax-rate reduction.Then , when the currency falls , interest rates are raised to attract financial flows in order to stabilize the exchange rate	This policy is totally mindless
+2	Britain and all of Europe need to reconsider the prospects for European integration in light of the possible reunification and neutralization of Germany	A unified Germany that remained within the Western alliance would give Germany such an overshadowing position that all other members of a unified Europe would become vassals of the German state
+5	A unified Germany that remained within the Western alliance would give Germany such an overshadowing position that all other members of a unified Europe would become vassals of the German state	Unless the Soviet Union collapses , German reunification is likely to require Germany 's neutralization
+2	Unless the Soviet Union collapses , German reunification is likely to require Germany 's neutralization	The implications for Britain , France and the rest of Europe of having their currencies tied to the economic policy of a neutral country need considering before we judge Mr. Lawson 's resignation to be unfortunate
+5	Personal spending grew 0.2 % in September to a $ 3.526 trillion annual rate	It was the smallest monthly increase in a year
+8	At the same time , personal income was held down by the effects of Hurricane Hugo	personal income rose 0.3 % in September to a $ 4.469 trillion rate but would have climbed 0.6 % had it not been for the storm
+6	personal income rose 0.3 % in September to a $ 4.469 trillion rate but would have climbed 0.6 % had it not been for the storm	Among the economic effects of the hurricane was a sharp drop in rental income
+5	But the new statistics show that by September , the burst in spending seemed to be tapering off	Many economists expect the weakness to continue
+1	I do n't think there 's a lot in the wings '' in other sectors of the economy to keep growth above 1 %	In the third quarter , the economy grew at a moderate 2.5 % annual rate
+5	to bargain car prices at the end of the model year	Car sales slackened in September after the 1990 models were introduced
+5	Car sales slackened in September after the 1990 models were introduced	According to the Commerce Department report , spending on durable goods -- items expected to last at least three years , including cars -- declined by $ 6.2 billion
+5	We 'd like to continue to reduce debt	the response will help determine future debt-reduction efforts
+4	the company has no intention of tapping its short-term bank lines `` for a good part of 1990	Sometime next year , Control Data will `` develop a new bank relationship
+5	Sometime next year , Control Data will `` develop a new bank relationship , '' Mr. Perlman said	In recent months a group of lenders , led by Bank of America , has extended Control Data up to $ 90 million in revolving loans through January , as well as $ 115 million in standby letters of credit
+10	Sometime next year , Control Data will `` develop a new bank relationship , '' Mr. Perlman said	In recent months a group of lenders , led by Bank of America , has extended Control Data up to $ 90 million in revolving loans through January , as well as $ 115 million in standby letters of credit
+5	Loan covenants require that the company achieve specified levels of operating earnings and meet a rolling four-quarter profitability test	Last week Control Data reported third-quarter earnings of $ 9.8 million , or 23 cents a share , on revenue of $ 763 million
+1	Last week Control Data reported third-quarter earnings of $ 9.8 million , or 23 cents a share , on revenue of $ 763 million	Through the first nine months , the company had a loss of $ 484 million , largely reflecting the closing of its supercomputer unit
+2	future restructuring would be a question of strategy	We do n't need the cash
+1	Rather , Mr. Perlman said , Control Data intends to bid for the coming Minnesota lottery contract and is seeking new applications for the technology overseas , where `` there is great interest in games of skill	He would n't elaborate
+5	The company 's strategy for keeping its computer products business profitable -- it recently achieved profitability after several quarters of losses -- calls for a narrow focus and a lid on expenses	Partly , costs will be held down through strategic technology alliances
+6	Partly , costs will be held down through strategic technology alliances	an agreement with MIPS Computer Systems Inc. to jointly develop machines with simplified operating software
+5	such arrangements could help slash Control Data 's computer research and development costs in half by the end of 1990	that before Control Data scrapped its ETA Systems Inc. supercomputer business this past spring , those costs were running at nearly 35 % of group revenue
+10	that before Control Data scrapped its ETA Systems Inc. supercomputer business this past spring , those costs were running at nearly 35 % of group revenue	At the same time four of six design projects were spiked
+2	it sees good opportunities in systems integration	we 're getting only 10 % of the integration dollars our customers are spending
+5	We think we 're getting only 10 % of the integration dollars our customers are spending	We 're in environments that are going to spend a lot of money on that
+5	Control Data mainframes are designed for numerically intensive computing users , such as the scientific , engineering and academic communities	Utilities management is a major commercial niche
+8	it had tried to do too much on its own	Absolutely
+2	he spends much time considering the possibility of a hostile takeover	We 've been listed as a candidate for so long it 's not worth worrying about
+1	Well , the arrogant East Coast media have spoken again ( `` Going for the Green , '' editorial , Oct. 17 )	Having resided in the great state of California for the past seven years , I find it hard to ignore our environmental problems when I start my commute to work with eyes tearing and head aching from the polluted air ; when I try to enjoy the beaches and come home covered with tar and oil ; when I hear of numerous deaths related to irresponsible processing of cheese and use of chemicals in fruit growing
+1	suggesting that their save-the-earth initiatives are `` whacky '' and referring to so many citizens as `` la-la activists	Strange that we do n't hear similar criticisms of the East Coast activists who seek to clean up Boston Harbor or rid their beaches of medical waste
+1	While there are no easy low-cost solutions , simply ignoring our problems will result in their severity increasing and spreading throughout the state , the nation and the world	If nothing else , such initiatives as these will provide an awareness to citizens and lawmakers and encourage appropriate corrective action
+2	but picking Frank Lloyd Wright to say it for you was a bad call	Wright 's organic architecture demonstrated a keen sensitivity to the environment decades before it became fashionable among `` la-la activists
+5	As for California being a state run by liberal environmental loonies , let 's not forget where Ronald Reagan came from	Perhaps Mr. Reagan , who claimed that air pollution is caused by trees , is the man you should be quoting to back up your position that economics is more important than the Earth
+8	Your editorial was commendable and neatly matched by the readers ' comments in letters to the editor , `` Alar : Scaring on the Side of Caution	The illogic and inaccuracy of John H. Adams 's comments for the National Resources Defense Council fully justifies your characterization of California 's Greens in particular as `` la-la activists
+2	The illogic and inaccuracy of John H. Adams 's comments for the National Resources Defense Council fully justifies your characterization of California 's Greens in particular as `` la-la activists	We may all hope that California 's voters will heed the scientific realities that their own university 's renowned Prof.Tom Jukes provides them and ignore the charlatanry profferred by their `` wealthy Hollywood weepers
+8	I have a different approach to offer , not only to Californians , but to all Americans	In a free country , the law should restrict citizens as little as is consistent with good manners and public safety
+5	In a free country , the law should restrict citizens as little as is consistent with good manners and public safety	Would-be naysayers should have the burden of proving reasonable necessity when they urge a prohibition for enactment into law
+8	According to the association 's annual report , scheduled to be released today in Warsaw , IATA members have n't posted such a strong performance since the late 1970s	Revenue last year increased by more than 11 % over 1988 , and net income nearly tripled from restated year-earlier net of $ 900 million
+6	The group attributed the strong results to the favorable economic climate , rising demand for air travel and improved average yield ( revenue received per ton of traffic transported a kilometer )	Systemwide , IATA airlines carried 632 million passengers last year , 2 % more than in 1987
+5	The KGB has abolished a unit known for persecuting dissidents , the government newspaper Izvestia said	The newspaper quoted KGB chairman Vladimir A. Kryuchkov as saying the definition of anti-Soviet crimes had narrowed , the laws had changed and people no longer have to fear a simple slip of the tongue
+5	The newspaper quoted KGB chairman Vladimir A. Kryuchkov as saying the definition of anti-Soviet crimes had narrowed , the laws had changed and people no longer have to fear a simple slip of the tongue	Mr. Kryuchkov was quoted as saying that in place of the infamous 5th Directorate a new unit would work `` to foil the conspiracies of foreign intelligence services to create and use organized anti-government groups in our country
+2	Czechoslovakia has restricted consumer-goods exports to neighbor countries because of `` massive buying out of food '' by tourists from Poland , Hungary and the Soviet Union	Rising inflation in Poland and Hungary makes Czechoslovak food , clothing and shoes relatively cheap for visitors from these countries
+5	West Germany 's biggest union , IG Metall , said it is ready to back demands for more pay and shorter hours with strikes against the nation 's automotive , steel and engineering industries	Its chairman told the union to prepare for the worst in next year 's confrontation with employers over a new three-year wage deal
+5	Last week came news of alarm in Venice over a plan to tap gas fields off the city 's coast	Now comes word from a scientist that over the next century Venice will sink nearly three times faster than the present rate because of the `` greenhouse effect
+8	that over the next century Venice will sink nearly three times faster than the present rate because of the `` greenhouse effect	Global warming means higher tides which will lower Venice by another 23 inches in the next 100 years
+6	it will establish a mail-order operation with two local partners in the Soviet Union next year	the newly established Moscow-based Intermoda company is scheduled to begin operations in February 1990
+1	the newly established Moscow-based Intermoda company is scheduled to begin operations in February 1990	Intermoda will initially only send the textile and clothing section of the Quelle catalog , translated into Russian , to Soviet customers who have access to convertible currency
+2	it will ban sex and violence from state-owned television next year	Many programs we have now come from the West and are not suitable to our culture
+6	Many programs we have now come from the West	A star attraction on the national network is the U.S. 's `` Dynasty
+9	In the opener , Sony Corp. would agree to buy Columbia Pictures Entertainment Inc. in a transaction valued at close to $ 5 billion	Shortly after that , Sony would offer to buy Guber-Peters Entertainment Co. for $ 200 million and offer its co-chairmen , Peter Guber and Jon Peters , the chance to run Columbia
+9	Shortly after that , Sony would offer to buy Guber-Peters Entertainment Co. for $ 200 million and offer its co-chairmen , Peter Guber and Jon Peters , the chance to run Columbia	Mr. Peters would fly to New York with the intention of telling Warner Communications Inc. Chairman Steven J. Ross that Guber-Peters planned to end its five-year contract to produce movies exclusively for Warner
+2	That 's where the two scripts would diverge	In affidavits filed in Los Angeles Superior Court in connection with the $ 1 billion breach-of-contract suit Warner brought against Sony for hiring the two producers , Mr. Guber and Mr. Peters tell one story.Warner tells another
+1	Mr. Guber and Mr. Peters tell one story	Warner tells another
+5	he was `` shocked '' when Mr. Ross refused a meeting and made it clear he would stop them	he reminded Mr. Ross that Robert Daly and Terry Semel , the top executives of the Warner Brothers studio , had `` repeatedly agreed that we had every right to accept '' an offer such as Sony 's
+5	Tell them that they do n't have a job	You can take them with you
+2	Warner denies Mr. Ross ever said any such thing , and , in fact , denies virtually everything Mr. Guber and Mr. Peters say in their affidavits	Tomorrow , Warner will file another batch of documents contending that `` the essence of everything these guys are saying is basically lies
+9	Tomorrow , Warner will file another batch of documents contending that `` the essence of everything these guys are saying is basically lies	Thursday , a judge is scheduled to rule on Warner 's motion seeking to block the Guber-Peters duo from going to Columbia
+5	The matter may never even be tried in court	Warner says that what it really wants is for the producers to fulfill their contractual obligations , but the bitterness of this battle and the accusations flying on both sides make it unlikely that the decade-long relationship between Warner and its two most prolific producers can ever be repaired
+1	but the bitterness of this battle and the accusations flying on both sides make it unlikely that the decade-long relationship between Warner and its two most prolific producers can ever be repaired	it is willing to settle the matter out of court
+5	Mr. Guber and Mr. Peters do n't have much to gain from a protracted battle	Sony , for its part , could decide that the cost of a Warner settlement or court fight is too high , choosing instead to find someone else to run Columbia
+6	but other murkier issues will play a big role	Sony and the Guber-Peters team are hanging much of their case on Warner 's willingness last year to release the producers from another contract and on an oral agreement they say allowed them to terminate the current written contract if the opportunity to run a major studio came up
+1	Sony and the Guber-Peters team are hanging much of their case on Warner 's willingness last year to release the producers from another contract and on an oral agreement they say allowed them to terminate the current written contract if the opportunity to run a major studio came up	Warner denies such an agreement was made , and disputes the Guber-Peters version of virtually every telephone call and meeting the two sides had on the matter
+6	Just how rancorous the relationship has become is clear from the differing versions of the two sides ' current business dealings	Mr. Guber and Mr. Peters say in their affidavits that Warner already is taking steps to freeze them out of their projects at Warner , notably the Sylvester Stallone film `` Tango and Cash
+5	Mr. Peters says in his affidavit that the movie 's staff was told last week that Warner was `` taking over '' the picture , and another producer would be giving all of the orders	Over his objections , Mr. Peters says , the film 's release date was moved up `` by many months '' to December , and plans for a soundtrack `` worth millions of dollars '' were dropped
+8	Hubert de la Bouillaire , an editor on the film , backs Mr. Peters in a separate sworn declaration	Mr. de la Bouillaire says Warner Brothers production president Mark Canton called him Oct. 19 and said Mr. Peters is `` off the picture
+5	Mr. Peters is `` off the picture	If he calls you up , just tell him everything is fine
+2	to screen the picture without telling stars Sylvester Stallone and Kurt Russell or Mr. Peters	The less they know , the easier it is for us
+2	The less they know , the easier it is for us	If someone asks , just lie and tell them it will be done
+2	That is `` a total 100 % lie	The movie is in its post-production stages of `` cleaning up the film
+4	That is `` a total 100 % lie	The movie is in its post-production stages of `` cleaning up the film
+5	The movie is in its post-production stages of `` cleaning up the film	Mr. Peters and Mr. Guber , as the contractual producers with consultation rights , have been invited to screenings and to give their input on the film
+5	Mr. Peters and Mr. Guber , as the contractual producers with consultation rights , have been invited to screenings and to give their input on the film	Dozens of Guber-Peters staffers are still working on the Warner lot and consulting on various projects on a `` daily basis
+5	he brought to lunch a release document Warner had agreed to in 1988 , when he and Mr. Peters made an aborted bid to buy part of MGM/UA Entertainment Co. to run the MGM studio	he had crossed out `` MGM '' with a red pen and written in `` Columbia , '' giving the document to Mr. Semel
+5	he had crossed out `` MGM '' with a red pen and written in `` Columbia , '' giving the document to Mr. Semel	Mr.Semel said absolutely nothing to indicate Warner would have any objection to our assuming management positions at Columbia
+4	Mr. Semel , in his affidavit , does n't mention any hugging or congratulating	He says he told Mr. Guber he could n't sign any documents and that `` the deal , although apparently a good one for him and Mr. Peters , would have a very negative impact on Warner
+9	he told Mr. Guber he could n't sign any documents and that `` the deal , although apparently a good one for him and Mr. Peters , would have a very negative impact on Warner	he would contact Mr. Ross and Warner Brothers Chairman Robert Daly
+2	But Sony is a problem	Warner is particularly concerned about the prospect of a huge Japanese company controlling important segments of the U.S. entertainment business
+8	Mr. Guber and Mr. Peters took encouragement from Warner studio executives such as Mr. Semel and Mr. Canton too literally	According to this theory , Warner executives , hoping to strengthen their relationships with the producers , encouraged Mr. Guber and Mr. Peters in their ambitions to build a major entertainment company
+2	the studio still wants the producers to come back and fulfill their contract	They are like a mini-studio ; they have 50 projects in development for Warner
+6	Even White House budget director Richard Darman had trouble finding a silver lining in the report	I suppose you could say the good news is that the deficits are not heading up , '' he said , `` but you ca n't be satisfied with deficits at this level and we 're not
+1	The 1989 deficit would have been nearly $ 10 billion larger had the government been able to spend as much as Congress intended on cleaning up the thrift industry before the year ended on Sept. 30	Because the Resolution Trust Corp. could n't spend the money fast enough , the savings-and-loan outlays were pushed into fiscal 1990
+1	The law sets a deficit target of $ 100 billion for fiscal 1990	A partisan fight over cutting capital-gains taxes has slowed the progress of 1990 deficit-reduction legislation almost to a halt , triggering across-the-board spending cuts under the Gramm-Rudman law
+5	The White House and the Democratic leadership in Congress blame each other for turning capital-gains taxes into such a divisive issue this year	Neither side showed any sign of retreating
+1	In all , federal outlays amounted to $ 1.143 trillion in 1989 , up 7.5 % from the previous year	Federal revenues rose 9 % to $ 990.79 billion
+6	a surge in tax receipts noted earlier in the year did n't turn out to be quite as strong as it first appeared	The Treasury marked up its forecast by $ 17 million in July , but that proved to be about $ 5 billion too optimistic
+8	Outlays for the month totaled $ 105.39 billion , up from $ 87.57 billion a year earlier	The increase reflects spending on the S & L rescue as well as payroll and Social Security checks normally issued in October that were issued in September this year because Oct. 1 fell on a Sunday
+0	Consumers Power Co. , now the main unit of CMS Energy , ran into financial problems over its $ 4.2 billion Midland nuclear plant	CMS is nearly done converting the Midland plant to a gas-fired cogeneration facility at a cost of $ 600 million
+5	The refund is about $ 9 million	Accrued interest on the refund was about $ 18 million as of Oct. 25
+5	Japanese government officials , eager to rebut foreign criticism of Japanese investments overseas , hailed the transaction as proof foreigners can make similar investments in Japan	Polly Peck 's chairman , Asil Nadir , echoed the official Japanese view of the accord , which was announced Friday
+2	Sansui is a special case	It expects to post a loss of 6.4 billion yen for the year ending tomorrow and its liabilities currently exceed its assets by about 13.8 billion yen
+8	But analysts say Sansui is a special case.It expects to post a loss of 6.4 billion yen for the year ending tomorrow and its liabilities currently exceed its assets by about 13.8 billion yen	If you find sound , healthy companies in Japan , they are not for sale
+2	Nor do analysts expect the Sansui deal to touch off a fresh wave of foreign purchases	If the strong yen and the high stock prices of Japanese companies were n't deterrents enough , webs of cross-shareholdings between friendly Japanese companies and fiercely independent Japanese corporate attitudes repel most would-be acquirers
+0	that this was not the company 's finest hour	Sansui was once one of Japan 's premier makers of expensive , high-quality stereo gear for audiophiles
+1	Some of Sansui 's fellow audio-specialty companies , such as Aiwa Co. and Pioneer Electric Corp. , responded to the challenge by quickly bringing out mini-component products of their own , by moving heavily into the booming compact disk businesses or by diversifying into other consumer-electronics fields , including laser disks or portable cassette players	Sansui was late into the mini-component business and failed to branch into other new businesses
+2	As the yen soared in recent years , Sansui 's deepening financial problems became a vicious circle	While competitors moved production offshore in response to the sagging competitiveness of Japanese factories , Sansui lacked the money to build new plants in Southeast Asia
+2	Sansui lacked the money to build new plants in Southeast Asia	Our company has not been able to cope very effectively with '' changes in the marketplace
+2	his firm will likely be recommending acquisitions of Japanese companies more often to foreign clients in the future	Attitudes { toward being acquired } are still negative , but they 're becoming more positive
+2	Mr. Nadir brimmed with self-confidence that he can turn Sansui around	Sansui is a perfect fit for Polly Peck 's electronics operations , which make televisions , videocassette recorders , microwaves and other products on an `` original equipment maker '' basis for sale under other companies ' brand names
+6	Such risk taking is an everyday matter for the brash Mr. Nadir , who is 25 % owner of Polly Peck as well as its chairman	He took Polly Peck , once a small fabric wholesaler , and used it at as a base to build a conglomerate that has been doubling its profits annually since 1980
+9	He took Polly Peck , once a small fabric wholesaler , and used it at as a base to build a conglomerate that has been doubling its profits annually since 1980	In September , it announced plans to acquire the tropical-fruit business of RJR Nabisco Inc. 's Del Monte foods unit for # 557 million ( $ 878 million )
+5	forcing huge debt on the proposed new company	The debt , estimated at $ 4.7 billion , could mortgage the cellular company 's future earning power in order to placate some LIN holders in the short term
+2	That money also would have to be borrowed	In effect , McCaw has forced LIN 's hand by bidding $ 1.9 billion for the stake earlier this month
+2	We 're taking on more debt than we would have liked to	that the company would n't be profitable until 1994 or later
+1	Analyst estimate the value of the BellSouth proposal at about $ 115 to $ 125 a share	They value McCaw 's bid at $ 112 to $ 118 a share
+1	They value McCaw 's bid at $ 112 to $ 118 a share	The previous BellSouth pact was valued at about $ 98 to $ 110 a share
+1	McCaw , the largest provider of cellular telephone service in the U.S. , already owns about 9.4 % of LIN 's stock	In response to BellSouth 's amended pact , the Kirkland , Wash. , company extended its own offer to buy 22 million LIN shares for $ 125 apiece
+5	In response to BellSouth 's amended pact , the Kirkland , Wash. , company extended its own offer to buy 22 million LIN shares for $ 125 apiece	Over the weekend , McCaw continued to call for an auction of LIN
+5	Over the weekend , McCaw continued to call for an auction of LIN	McCaw to escalate the bidding again
+8	This game is n't over yet	At some point , it will become non-economical for one company
+1	McCaw 's bid also has a similar clause	Only McCaw 's proposal requires the company to begin an auction process in June 1994 for remaining shares at third-party prices
+2	We 're very pleased with the new deal	We did n't expect BellSouth to be so responsive
+1	BellSouth 's `` back-end protection was flawed previously	this is a superior deal to McCaw 's
+2	this is a superior deal to McCaw 's	We 're surprised
+2	We 're surprised	We did n't think a sleeping { Bell } mentality would be willing to take on dilution
+2	But Kenneth Leon , a telecommunications analyst with Bear , Stearns & Co. , finds the BellSouth proposal still flawed because the company does n't have to wait five years to begin buying more LIN shares	How many shares will be around in 1995
+2	How many shares will be around in 1995 ?	There 's nothing preventing BellSouth from buying up shares in the meanwhile
+8	BellSouth 's revised proposal surprised many industry analysts , especially because of the company 's willingness to accept some dilution of future earnings	the revised agreement with LIN would dilute BellSouth earnings by about 9 % in both 1990 and 1991 and by significantly less thereafter
+5	For 1988 , BellSouth earned $ 1.7 billion , or $ 3.51 a share , on revenue of $ 13.6 billion	Analysts were predicting 1990 BellSouth earnings in the range of $ 3.90 a share , or $ 1.9 billion , but now those estimates are being scaled back
+8	Indeed , McCaw seemed to hint at that option in a brief statement	Urging LIN directors to conduct `` a fair auction on a level playing field , '' McCaw asked how well the public interest would be served `` with the Bell operating companies controlling over 94 % of all cellular { potential customers } in the nation 's top 10 markets
+8	Their motivation , however , has a strong practical aspect : Program trading is hazardous to their paychecks	The most controversial form of program trading , stock-index arbitrage , is `` making it tough for traders to make money
+1	The portion of OTC volume attributable to program trading is n't known , as it is on the New York Stock Exchange , where it amounted to more than 13 % in September	Estimates from traders put it at less than 5 % of Nasdaq 's average daily volume of roughly 133 million shares
+8	Other market-maker gripes : Program trading also causes the Nasdaq Composite Index to lose ground against other segments of the stock market	Because of program trading it is more difficult to trade many OTC stocks without sharp price moves , a condition known as illiquidity
+1	they do so only for customers , however	Kidder Peabody does program trading for its own as well as clients ' accounts
+9	That 's largely because of defensive measures they adopted after the 1987 crash , when individual investors fled the market and trading activity dwindled	Market makers , to cut costs , slashed inventories of stocks they keep on hand to sell investors when other holders are n't selling
+5	market makers became quicker to lower price quotes when sell programs are in progress	On days when prices are tumbling , they must be willing to buy shares from sellers when no one else will
+2	On days when prices are tumbling , they must be willing to buy shares from sellers when no one else will	In such an environment , market makers can suffer huge losses both on trades made that day at steadily dropping prices and in the value of their inventories of shares
+2	But this skittishness is creating liquidity problems in certain OTC stocks	It 's harder to sell stocks when the sell programs come in because some market makers do n't want to { take the orders
+8	It 's harder to sell stocks when the sell programs come in because some market makers do n't want to { take the orders }	No one has big positions and no one wants to take big risks
+1	they also make money when program trading pushes the prices higher	Sometimes { traders } lose sight of that
+2	These big stocks greatly influence the Nasdaq Composite Index	When the computers say `` sell , '' the composite tumbles as well as the Dow Jones Industrial Average
+6	This gap eventually closes , but slowly	Three days later , as of Friday 's close , the Nasdaq Composite was down 6 % , compared with 5.9 % for the industrial average , 5.7 % for the S & P 500 and 5.8 % for the Big Board Composite
+5	The main reason for this lag is that individual investors own 65 % of the OTC market 's capitalization , according to Mr. Hardiman , much more than on the Big Board	Such investors tend to be more cautious than institutional investors are about re-entering the market after massive selloffs
+1	The Nasdaq Composite Index tumbled 5.39 , or 1.2 % to 452.76 on Friday	For the week , the index dropped 3.8 %
+1	Weakness in big technology stocks hurt the composite as well as the Nasdaq 100 Index , which fell 1.4 % , or 6.43 , on Friday , to 437.68	The Nasdaq Financial Index lost about 1 % , or 3.95 , to 448.80
+10	Weakness in big technology stocks hurt the composite as well as the Nasdaq 100 Index , which fell 1.4 % , or 6.43 , on Friday , to 437.68	The Nasdaq Financial Index lost about 1 % , or 3.95 , to 448.80
+1	Friday 's trading volume totaled 132.8 million shares	The average daily share turnover for October is almost 148 million shares
+2	LIN Broadcasting surged 4 5/8 to 112 5/8	LIN and BellSouth sweetened their merger agreement in an attempt to keep shareholders from tendering their shares to McCaw Cellular Communications
+1	LIN and BellSouth sweetened their merger agreement in an attempt to keep shareholders from tendering their shares to McCaw Cellular Communications	McCaw , which dropped 2 1/2 to 37 3/4 , has offered $ 125 a share for a majority of LIN 's shares
+8	The revised LIN-BellSouth agreement boosts the dollar amount of the special dividend LIN promises to pay shareholders	LIN now plans to dole out $ 42 a share in cash , up from the earlier $ 20 amount
+5	Intel eased 1/8 to 31 7/8	The semiconductor concern said the interruption in shipment of its 80486 computer chip will be brief and have little impact on the company 's earnings
+1	the interruption in shipment of its 80486 computer chip will be brief and have little impact on the company 's earnings	The stock fell 7/8 Thursday amid concerns over problems discovered with the chip
+5	Kirschner Medical fell 4 to 15	The company said its third-quarter earnings will probably be lower than the 16 cents a share it reported last year , despite a rise in the company 's revenue
+8	The company said its third-quarter earnings will probably be lower than the 16 cents a share it reported last year , despite a rise in the company 's revenue	Kirschner earned $ 376,000 on revenue of $ 14.5 million in the 1988 quarter
+5	London shares were depressed initially by overnight losses in New York and by the drop in sterling after Mr. Lawson 's resignation	It showed some early resilience after central bank support firmed sterling , but the weight of Wall Street late in London trading , and signs of further weakness in the British pound , proved a hefty load to bear
+1	It showed some early resilience after central bank support firmed sterling , but the weight of Wall Street late in London trading , and signs of further weakness in the British pound , proved a hefty load to bear	New York stocks recovered some of their losses after the London market closed
+5	The 30-share index settled 42.0 points lower at 1678.5	Volume was 840.8 million shares , up from 443.6 million Thursday and the week 's most active session
+2	British Petroleum fell 5 to 286 on 14 million shares traded	the multinational oil company was pressured by recent brokerage recommendations urging investors to switch into Shell Trading & Transport
+2	In Tokyo , stocks closed lower but above intraday lows in active trading	The Nikkei index was pressured down by profit-taking triggered by sharp advances made through this week and fell 151.20 points to 35527.29
+5	On Friday , the Tokyo stock price index of first section issues was down 15.82 at 2681.76	First-section volume was estimated at 1.3 billion shares , up from 886 million shares Thursday
+8	Frankfurt prices closed lower again Friday , the fourth decline in the past five days and the culmination of a week that saw the DAX index lose 4 %	The DAX dropped 19.69 points Friday to 1462.93
+5	that selling pressure was n't enormous and that the DAX dropped Friday more on a lack of any substantial buying interest	contributing to the downward drift was the fact that many professional traders had chosen to square positions ahead of the weekend
+5	It 's the whole uncertainty about what 's happening around us	If you take away the outside influences , the market itself looks very cheap
+2	If you take away the outside influences , the market itself looks very cheap	What 's happening here is n't justified by the fundamentals
+2	because of the wild swings seen on the New York Stock Exchange last week	That 's leaving small investors with cold feet and prompting institutions to take a reserved stance on the sidelines as well
+2	Share prices also closed lower in Sydney , Hong Kong , Singapore , Taipei , Manila , Wellington and Seoul	Concern about declines in other markets , especially New York , caused selling pressure
+5	More than 70,000 people filled a soccer stadium on the outskirts of the black township of Soweto and welcomed freed leaders of the outlawed African National Congress	It was considered South Africa 's largest opposition rally
+5	While lawmakers have n't raised the possibility of renewing military aid to the Contras following Ortega 's weekend threat to end a truce , Senate Majority Leader Mitchell said on NBC-TV that Ortega had made `` a very unwise move	Minority Leader Dole plans to offer a resolution tomorrow denouncing the Nicaraguan president
+8	whose remarks came during a celebration in Costa Rica marking regional moves to democracy	Ortega cited renewed attacks by the U.S.backed rebels
+8	Spain 's Socialist Party claimed victory in nationwide elections , saying it had retained its parliamentary majority by one seat	With all the votes counted , a government spokesman said Prime Minister Gonzalez 's party won 176 seats in the 350-seat Cortes , or lower house of parliament
+1	With all the votes counted , a government spokesman said Prime Minister Gonzalez 's party won 176 seats in the 350-seat Cortes , or lower house of parliament	The Socialists held 184 seats going into the balloting
+5	Thousands of East Germans attended public rallies organized by the Communist leadership and demanded free speech , controls on the security forces and an end to official privileges	The gatherings in East Berlin and elsewhere were viewed as part of a government effort to stop activists from staging protests to press their demands
+5	The gatherings in East Berlin and elsewhere were viewed as part of a government effort to stop activists from staging protests to press their demands	Dissidents in Czechoslovakia said the nation 's pro-democracy movement was growing despite the government 's move to crush a protest Saturday in Prague 's Wenceslas Square
+10	The gatherings in East Berlin and elsewhere were viewed as part of a government effort to stop activists from staging protests to press their demands	Dissidents in Czechoslovakia said the nation 's pro-democracy movement was growing despite the government 's move to crush a protest Saturday in Prague 's Wenceslas Square
+8	a protest Saturday in Prague 's Wenceslas Square	More than 10,000 demonstrators had called for free elections and the resignation of Communist Party leader Milos Jakes
+5	More than 10,000 demonstrators had called for free elections and the resignation of Communist Party leader Milos Jakes	Police detained more than 350 people
+5	U.S. and Soviet officials are to open a new round of talks today aimed at reducing chemical-weapons arsenals amid superpower differences over whether to stop making the gases	The talks in New York are the first since Bush and Soviet Foreign Minister Shevardnadze unveiled proposals in September to scrap existing weapons
+8	Before adjustment for inflation orders were up a nominal 5 %	While domestic orders climbed an adjusted 8 % and a nominal 11 % in September , foreign orders declined 4 % after inflation and 1 % on a nominal basis
+8	In the third quarter , orders rose a real 5 % and a nominal 9 %	Domestic orders were up a real 11 % and a nominal 14 % , while foreign orders rose a real 1 % and a nominal 5 %
+9	Mr. Perry paused to scan the crowd	I see we have about half the audience working for us , '' he said , tongue in cheek
+1	I see we have about half the audience working for us	The other half , we may have before long
+2	Members of the audience gasped or laughed nervously	their industry has been unsettled recently by acquisitions
+2	First Unilever , the Anglo-Dutch packaged-goods giant , spent $ 2 billion to acquire brands such as Faberge and Elizabeth Arden	It now holds the No . 3 position at U.S. department-store cosmetic counters
+8	Then Procter & Gamble Co. agreed to buy Noxell Corp. for $ 1.3 billion	That acquisition , to be completed by year end , will include the Cover Girl and Clarion makeup lines , making P & G the top marketer of cosmetics in mass-market outlets
+2	P & G and Unilever bring with them great experience with mundane products like soap and toilet paper , sparking disdain in the glitzy cosmetics trade ; but they also bring mammoth marketing clout , sparking fear	Though it is far from certain that companies best known for selling Promise margarine and Tide detergent will succeed in cosmetics , there 's little doubt they will shake up the industry
+6	to blend the methodical marketing strategies they use for more mundane products with the more intuitive approach typical of cosmetics companies	Likely changes include more emphasis on research , soaring advertising budgets and aggressive pricing
+2	But some cosmetics-industry executives wonder whether techniques honed in packaged goods will translate to the cosmetics business	Estee Lauder Inc. , Revlon Inc. and other cosmetics houses traditionally have considered themselves fashion enterprises whose product development is guided by the creative intuition of their executives
+5	Estee Lauder Inc. , Revlon Inc. and other cosmetics houses traditionally have considered themselves fashion enterprises whose product development is guided by the creative intuition of their executives	Cosmetics companies roll out new makeup colors several times a year , and since most products can be easily copied by competitors , they 're loath to test them with consumers
+4	Just because upscale cosmetics look like packaged goods and smell like packaged goods , it does n't mean they are packaged goods	They 're really fashion items wrapped up in little jars
+8	Unilever and P & G are the habitats of organization men in gray-flannel suits	Both companies are conservative marketers that rely on extensive market research
+5	Both companies are conservative marketers that rely on extensive market research.P & G , in particular , rarely rolls out a product nationally before extensive test-marketing	Both can be extremely aggressive at pricing such products as soaps and diapers -- to the extent that some industry consultants predict cents-off coupons for mascara could result from their entry into the field
+6	P & G already has shown it can meld some traditional packaged-goods techniques with the image-making of the cosmetics trade in the mass-market end of the business	Consider Oil of Olay , which P & G acquired as part of Richardson-Vicks International in 1985
+9	Consider Oil of Olay , which P & G acquired as part of Richardson-Vicks International in 1985	The moisturizer , introduced in 1962 , had a dowdy image
+3	The moisturizer , introduced in 1962 , had a dowdy image	Oil of Olay brought with it the baggage of being used basically by older women who had already aged
+2	P & G set out to reposition the brand by broadening the product line to include facial cleansers and moisturizers for sensitive skin.It also redesigned Oil of Olay 's packaging , stamping the traditional pink boxes with gold lines to create a more opulent look.Moreover , P & G shifted its ad campaign from one targeting older women to one featuring a woman in her mid-30s vowing `` not to grow old gracefully	The company says sales have soared
+6	Goliaths like Unilever and P & G have enormous financial advantages over smaller rivals	Next year , Noxell plans to roll out a perfume called Navy
+1	Next year , Noxell plans to roll out a perfume called Navy	Without P & G 's backing , Noxell might not have been able to spend the estimated $ 5 million to $ 7 million needed to accomplish that without scrimping on its existing brands
+8	Without P & G 's backing , Noxell might not have been able to spend the estimated $ 5 million to $ 7 million needed to accomplish that without scrimping on its existing brands	Packaged-goods companies `` will make it tougher for smaller people to remain competitive
+6	Further consolidations in the industry could follow	Rumors that Unilever is interested in acquiring Schering-Plough Corp. 's Maybelline unit are widespread
+1	Rumors that Unilever is interested in acquiring Schering-Plough Corp. 's Maybelline unit are widespread	Unilever wo n't comment
+2	The presence of Unilever and P & G is likely to increase the impact of advertising on cosmetics	While the two are among the world 's biggest advertisers , most makers of upscale cosmetics spend relatively little on national ads
+5	Nearly 70 % of cosmetics sales come through mass-distribution outlets such as drug stores and supermarkets , according to Andrew Shore , an analyst at Shearson Lehman Hutton Inc	That figure has been inching up for several years
+5	That figure has been inching up for several years	As the trend continues , demand for mass-market items that are high quality but only mid-priced -- particularly skin-care products -- is expected to increase
+9	That figure has been inching up for several years	As the trend continues , demand for mass-market items that are high quality but only mid-priced -- particularly skin-care products -- is expected to increase
+2	The packaged-goods marketers may try filling that gap with a spate of new products	Unlike the old-line cosmetics houses , Unilever and P & G both have enormous research and development bases to draw on for new products
+8	that future product development will be driven more by technological innovation than by fashion whims -- especially among mass-market brands	There will be more emphasis on quality
+2	There will be more emphasis on quality	You 'll see fewer gimmicks
+6	But success for Unilever and P & G is far from guaranteed , as shown by the many consumer-product companies that have tried and failed to master the quirky beauty business	In the 1970s , several pharmaceutical and packaged-goods companies , including Colgate-Palmolive Co. , Eli Lilly & Co. , Pfizer Inc. and Schering-Plough acquired cosmetics companies
+1	In the 1970s , several pharmaceutical and packaged-goods companies , including Colgate-Palmolive Co. , Eli Lilly & Co. , Pfizer Inc. and Schering-Plough acquired cosmetics companies	only Schering-Plough , which makes the mass-market Maybelline , has maintained a meaningful business
+1	only Schering-Plough , which makes the mass-market Maybelline , has maintained a meaningful business	Colgate , which acquired Helena Rubenstein in 1973 , sold the brand seven years later after the brand languished
+5	only Schering-Plough , which makes the mass-market Maybelline , has maintained a meaningful business	Colgate , which acquired Helena Rubenstein in 1973 , sold the brand seven years later after the brand languished
+2	Unilever already has experienced some disappointment	The mass-market Aziza brand , which it acquired in 1987 along with Chesebrough-Pond 's Inc. , has lost share , according to industry analysts
+2	The ritzy world of department-store cosmetics retailing , where Unilever is concentrating its efforts , may prove even more treacherous	In this niche , makeup colors change seasonally because they are linked to ready-to-wear fashions
+2	In this niche , makeup colors change seasonally because they are linked to ready-to-wear fashions	Because brand loyalty is weak and most cosmetics purchases are unplanned , careful training of store sales staffs by cosmetics companies is important
+1	Over the past week , the president has agreed to keep the committee informed , usually in advance , of covert actions and to put key intelligence decisions in writing	That was n't always the way the Reagan administration handled such matters
+9	Mr. Bush has pledged as well to respect the 14-year-old executive order barring U.S. agents from assassinating foreign leaders or helping others to do so	Congress never fully trusted former CIA chief William Casey and National Security Adviser John Poindexter to honor the ban
+4	The new understanding did n't just spring to life in a spontaneous eruption of sweetness and light	It emerged after a rancorous display of old-style intelligence politics that followed this month 's failed coup attempt in Panama
+6	that congressionally imposed restrictions on covert actions made U.S. support for such coups difficult	that one Reagan-era deal with Congress required him to notify the odious Panamanian dictator , Manuel Noriega , if the U.S. learned of a coup plot that might endanger his life
+6	The senators responded in kind	Sen. Boren happily told reporters that there had been `` a meeting of the minds '' with the White House , and that the committee had given Mr. Bush `` a clean slate , '' free of the impediments imposed during the Reagan years
+5	Sen. Boren happily told reporters that there had been `` a meeting of the minds '' with the White House , and that the committee had given Mr. Bush `` a clean slate , '' free of the impediments imposed during the Reagan years	Sen. Cohen said the relationship has reverted to its pre-Reagan character
+6	There still are some details to be nailed down	Mr. Bush is reserving the right in `` rare '' instances to keep Congress in the dark , asserting a constitutional prerogative the committee does n't recognize
+6	Moreover , both sides may face political critics	Some conservatives will accuse the president of promising Congress too much
+2	the government faces a daunting job of rebuilding confidence in its policies	The prime minister and her new chancellor of the exchequer , the untested John Major , need to haul the country through something like a recession to bring down inflation and set the economy moving again
+6	the government faces a daunting job of rebuilding confidence in its policies	The prime minister and her new chancellor of the exchequer , the untested John Major , need to haul the country through something like a recession to bring down inflation and set the economy moving again
+5	The prime minister and her new chancellor of the exchequer , the untested John Major , need to haul the country through something like a recession to bring down inflation and set the economy moving again	Mrs. Thatcher has to come to terms with European economic integration , beginning with the European Monetary System , which Britain is committed to joining fully someday
+8	It sounds like the work of a decade , but the deadline is late 1991 , when Mrs. Thatcher is expected to call another national election	that the economic cycle may be out of kilter with the political timetable
+2	that the economic cycle may be out of kilter with the political timetable	She could end up seeking a fourth term in an economy sick with inflation , high interest rates and a heavy trade deficit
+8	supporters wonder if her steely , autocratic ways are the right formula today	There 's a rising fear that perhaps Mrs. Thatcher 's style of management has become a political liability
+5	The prime minister 's insistence on keeping a private coterie of advisers -- including an economic guru who openly criticized former Chancellor of the Exchequer Nigel Lawson -- confused the financial community	Last week , the strategy of playing the two experts off each other blew up : Mr. Lawson quit in exasperation and Sir Alan Walters , the adviser , announced his resignation within an hour
+2	The confusion could be costly	Currency traders , suspecting Mr. Major wo n't defend the pound strenuously , sent the British currency sharply lower Friday against the dollar and West German mark
+5	Currency traders , suspecting Mr. Major wo n't defend the pound strenuously , sent the British currency sharply lower Friday against the dollar and West German mark	Analysts expect further jitters this week
+2	A continuing slide in the pound could force the government to push through another rise in the base rate , currently 15 %	That could shove a weak economy into recession
+5	That could shove a weak economy into recession	Economists have been anticipating a slump for months , but they now say it will be deeper and longer than they had thought
+8	but they now say it will be deeper and longer than they had thought	Britain 's economy `` is developing rapidly toward no-growth
+5	A mild slowdown probably would have run its course by early 1991 while the grueling downturn now expected could stretch into 1992	Recovery could be hampered if Britain 's major trading partners in Europe , which are enjoying robust economic activity , cool off as expected in late 1990 and 1991
+2	That would leave Mrs. Thatcher little room for maneuver	For the Tories to win the next election , voters will need to sense economic improvement for about a year beforehand
+5	For the Tories to win the next election , voters will need to sense economic improvement for about a year beforehand	Though Mrs. Thatcher does n't need to call an election until June 1992 , she would prefer doing so in late 1991
+2	Though Mrs. Thatcher does n't need to call an election until June 1992 , she would prefer doing so in late 1991	If the economy shows no sign of turning around in about year 's time , she will be very vulnerable
+9	There 's an equally pressing deadline for the government to define its monetary and economic ties to the rest of the European Community	It has sent mixed signals about its willingness to take part in the exchange-rate mechanism of the European Monetary System
+6	It has sent mixed signals about its willingness to take part in the exchange-rate mechanism of the European Monetary System	At a June EC summit , Mrs. Thatcher appeared to ease her opposition to full EMS membership , saying Britain would join once its inflation rate fell and the EC liberalized capital movements
+2	Since then , the government has left observers wondering if it ever meant to join	Sir Alan assailed the monetary arrangement as `` half-baked '' in an article being published in an American economics journal
+6	Since then , the government has left observers wondering if it ever meant to join	Sir Alan assailed the monetary arrangement as `` half-baked '' in an article being published in an American economics journal
+5	Sir Alan assailed the monetary arrangement as `` half-baked '' in an article being published in an American economics journal	That produced little reaction from his boss , reinforcing speculation the government would use its two conditions as a pretext for avoiding full EMS membership
+2	Despite the departure of Mr. Lawson and Sir Alan , the tug-of-war over the EMS could continue	Sir Geoffrey Howe , deputy prime minister and a Lawson ally on the EMS , has signaled he will continue pressing for early membership
+2	Of immediate concern is whether the Thatcher government will continue Mr. Lawson 's policy of tracking the monetary policies of the West German Bundesbank and responding in kind when the Frankfurt authorities move interest rates	Mrs. Thatcher `` does n't like taking orders from foreigners
+6	As Conservatives rally around Mrs. Thatcher during the crisis , many harbor hopes last week 's debacle will prompt change	We wo n't have any more of this wayward behavior , '' says Sir Peter Hordern , a backbench Tory member of Parliament
+2	We wo n't have any more of this wayward behavior	The party is fed up with sackings of good people
+2	It 's an unrealistic expectation	As long as a decade ago , Mrs. Thatcher declared she did n't want debate in her cabinet ; she wanted strong government
+4	she did n't want debate in her cabinet	she wanted strong government
+5	As long as a decade ago , Mrs. Thatcher declared she did n't want debate in her cabinet ; she wanted strong government	Over the weekend , she said she did n't intend to change her style and denied she is authoritarian
+8	she is authoritarian	Nonsense
+8	Nonsense	I am staying my own sweet , reasonable self
+8	Rand Corp. researchers Linda Waite and Frances Goldscheider analyzed a large sample of married women with at least one child at home between the ages of six and 18	The women indicated which family member usually did various household chores and the approximate share each did
+5	Not unexpectedly , wives , whether working or non-working , did by far the most -- about 80 % of the shopping , laundry and cooking , and about two-thirds of housecleaning , washing dishes , child care and family paper work	Only for yardwork and home maintenance did women do less than half
+8	This pattern was particularly evident among more highly educated couples	In these families , husbands took on 80 % more chores than in couples with only grammar school education
+2	It is clear that most of the effect of increasing education has been to shift who is helping the wife/mother	Her share decreases , but only slightly
+5	State governments place very low ceilings on how much property people may own or how much income they may keep if they want welfare help on medical bills	Conventional wisdom has long held that anywhere from one-fourth to one-half of all elderly long-term care patients are obliged to spend themselves into poverty before qualifying for Medicaid assistance
+5	that `` a surprisingly small proportion '' -- only about 10 % -- of residents start out as private payers but `` spend down '' to Medicaid levels in a single nursing home stay before they die or are discharged	Another one-third are already on Medicaid when they enter the nursing homes , a considerably higher proportion than the analysts anticipated
+8	But a remarkably high percentage -- over half -- are private payers throughout their stay , even a fairly lengthy one	About one-third pay out of their own pockets , while the rest are covered throughout by Medicare , private insurers or the Veterans Administration
+8	Graduate students are taking longer than ever to get their doctor of philosophy degrees	the time between college graduation and the awarding of a Ph . D. has lengthened by 30 % over the past 20 years , with the average gap now ranging from about 7.4 years in the physical sciences to 16.2 years in education
+6	October was an edgy month for the practitioners of glasnost , the official Soviet policy of allowing more candor from the nation 's media	For one of the superstars of glasnost , Vitaly Korotich , editor of the trail-blazing weekly Ogonyok , Friday , Oct. 20 was a somersaulting day that turned from tension to elation
+2	Why had Mr. Korotich been called	that he was taking my butt to the Central Committee so they can . . . '' whack , whack , whack his hand made vigorous spanking gestures on his left palm
+2	so they can . . . '' whack , whack , whack his hand made vigorous spanking gestures on his left palm	They feel the need from time to time to ` educate ' me
+8	And indeed that was the import of the meeting	Anxious allies of President Mikhail Gorbachev are cautioning media leaders to take it easy , to be careful not to do anything that could be used by Mr. Gorbachev 's opponents
+8	Anxious allies of President Mikhail Gorbachev are cautioning media leaders to take it easy , to be careful not to do anything that could be used by Mr. Gorbachev 's opponents	The government is nervous
+2	The government is nervous	According to Mr. Korotich , who was present , Mr. Gorbachev 's publicized tongue-lashing of the press on Oct. 13 was more of a plea : `` Be careful boys ; use good judgment.We 're standing in gasoline , so do n't smoke
+8	The government is nervous	According to Mr. Korotich , who was present , Mr. Gorbachev 's publicized tongue-lashing of the press on Oct. 13 was more of a plea : `` Be careful boys ; use good judgment.We 're standing in gasoline , so do n't smoke
+8	Be careful boys	use good judgment
+8	use good judgment	We 're standing in gasoline , so do n't smoke
+9	In fact , a very high-ranking Soviet official told an American official at a diplomatic dinner that no change in the policy was contemplated	The day after that conversation at the residence of the U.S. ambassador , the Brezhnevite editor of Pravda , Victor Afnasjev , was replaced by a college classmate of Mr. Gorbachev 's
+2	The day after that conversation at the residence of the U.S. ambassador , the Brezhnevite editor of Pravda , Victor Afnasjev , was replaced by a college classmate of Mr. Gorbachev 's	Brezhnevite holdovers have more to fear from Mr. Gorbachev than the verbal spanking he gave to the press
+1	When Mr. Korotich took it over in 1986 , it sold 250,000 copies	today it sells 3.4 million
+2	Glasnost has made celebrities of men like Mr. Korotich	Prevented by the Communist Party from getting on its slate of nominees for the new Supreme Soviet , he stood as an independent candidate for Congress from his native Ukraine and won with 84 % of the vote
+5	Prevented by the Communist Party from getting on its slate of nominees for the new Supreme Soviet , he stood as an independent candidate for Congress from his native Ukraine and won with 84 % of the vote	The same evening that he was summoned for a warning from the Party , he was cheered by thousands of his supporters at a rally of what can only be called the Korotich party
+2	But as astounding as the changes that have already occurred are , there is a fragility to glasnost	Censorship is n't a Marxist invention
+8	Censorship is n't a Marxist invention	The czars were no civil libertarians
+6	The czars were no civil libertarians	As late as the 1890s , the Russian government prevented any coverage of famines
+5	As late as the 1890s , the Russian government prevented any coverage of famines	It even directed newspapers not to publish anything that might stain the honor of the Turkish sultan 's wives
+4	So glasnost is not a value woven with steel threads into the fabric of Russian society	It is an admirable public relations program initiated by a single political leader during a four-year blink of history
+5	It is an admirable public relations program initiated by a single political leader during a four-year blink of history	It is public relations of the highest sophistication , that recognizes that credibility is enhanced by honesty -- up to a point
+6	What is that point	Will Ogonyok begin a series of reports analyzing the failures of perestroika
+2	I 'd be destroying myself , '' replies Mr. Korotich , who then asks , `` What would that accomplish	His answer reveals his vulnerability
+8	it also draws the line that Soviet society must cross to enter the normal dialogue of Western culture	It is the line beyond which the press can report not only on the bankruptcy of factories but on the failures of even admirable leaders
+8	Judge Albert Green , in Cook County Circuit Court in Chicago , also recognized the suit , filed last May by Robert and Cynthia Langendorf , as a class action covering thousands of Irving customers	The plaintiffs accused Irving of paying less interest than promised in a marketing brochure
+1	The plaintiffs accused Irving of paying less interest than promised in a marketing brochure	Irving maintained -- and still does -- that its actions were proper under its account agreements with customers
+1	the settlement at between $ 6 million and $ 8 million	That 's the maximum , outside figure
+8	Federal Reserve critics used to complain of `` stop and go '' monetary policies	that the Fed would first give a green light to the economy by making credit readily available and then turn on the red and bring growth to a screeching halt
+2	But under Alan Greenspan that has changed	A supremely cautious man , the Fed chairman is forever blinking yellow
+2	Indeed , his caution has become legendary within the government	He fusses endlessly over economic statistics , dissecting them in dozens of ways , probing for hours in search of potential problems
+9	He fusses endlessly over economic statistics , dissecting them in dozens of ways , probing for hours in search of potential problems	After thoroughly digesting reams of information , he often concludes that more data are needed
+8	Such caution was evident after the recent Friday-the-13th stock market plunge	Some Bush administration officials urged Mr. Greenspan to make an immediate public announcement of his plans to provide ample credit to the markets
+6	Mr. Greenspan 's decision to keep quiet also prompted a near-mutiny within the Fed 's ranks	A `` senior Fed official '' spoke on Saturday after the market swoon to both the Washington Post and the New York Times , saying the Fed was prepared to provide as much credit as the markets needed
+5	And , while the mutinous Fed member has n't gone public , some Fed governors , most notably Vice Chairman Manuel Johnson , are known to have disagreed with the chairman 's decision to remain silent	Ironically , the anonymous official 's comments have earned some plaudits for Mr. Greenspan
+10	And , while the mutinous Fed member has n't gone public , some Fed governors , most notably Vice Chairman Manuel Johnson , are known to have disagreed with the chairman 's decision to remain silent	Ironically , the anonymous official 's comments have earned some plaudits for Mr. Greenspan
+6	Ironically , the anonymous official 's comments have earned some plaudits for Mr. Greenspan	At a hearing last week , Democratic Sen. Chris Dodd of Connecticut told Treasury Secretary Nicholas Brady that `` Chairman Greenspan 's '' announcement over the Oct. 13 weekend was a `` very important statement
+1	Chairman Greenspan 's '' announcement over the Oct. 13 weekend was a `` very important statement	that he was n't sure whether Mr. Greenspan `` made a statement himself , or whether that was a newspaper report
+6	when the central bank took only modest steps to aid the markets	A surprisingly small amount of reserves was added to the banking system
+8	Bush administration officials appear increasingly concerned that Mr. Greenspan is cautious to a fault	Signs of growing weakness in the economy , paired with indications that inflation is staying well under control , have caused them to wonder why the Fed chairman is so grudging in reducing rates
+2	The administration 's concerns are understandable	The economy is showing signs of weakness , particularly among manufacturers
+6	The economy is showing signs of weakness , particularly among manufacturers	Exports , which played a key role in fueling growth over the last two years , seem to have stalled
+5	Exports , which played a key role in fueling growth over the last two years , seem to have stalled	Factory payrolls and production fell in September
+8	In addition , the chairman has a wary eye aimed a year or two down the road	Inflation may be stable at the moment , running at about 4.5 % .But if the Fed eases too soon , Mr. Greenspan fears , prices may begin to accelerate again next year
+5	So far , Mr. Greenspan 's cautious approach to policy has served both him and the nation well	His hand on the monetary tiller seems one reason why the economy next month seems highly likely to begin an unprecedented eighth year of peacetime growth without a recession
+8	to begin an unprecedented eighth year of peacetime growth without a recession	We 've gotten through two stock market crashes , and we 've gone through an election without any major problems
+2	We 've gotten through two stock market crashes , and we 've gone through an election without any major problems	I think you have to give Greenspan a good rating
+6	But such caution is no guarantee against mistakes	The Fed 's reluctance to ease credit now could be laying the groundwork for a new recession , perhaps starting early next year
+9	The Fed 's reluctance to ease credit now could be laying the groundwork for a new recession , perhaps starting early next year	If that happens , Chairman Greenspan could well become an open target
+5	If that happens , Chairman Greenspan could well become an open target	Already , Congress is toying with legislation to curb the Fed 's independence
+5	Already , Congress is toying with legislation to curb the Fed 's independence	If the economy turns down , such proposals could gain strong momentum
+6	the federal judiciary is one of the last bastions of the generalist	A judge must jump from murder to antitrust cases , from arson to securities fraud , without missing a beat
+5	A new specialty court was sought by patent experts , who believed that the generalists had botched too many important , multimillion-dollar cases	Some patent lawyers had hoped that such a specialty court would be filled with experts in the field
+5	Now only three of the 12 judges have patent-law backgrounds	The latter two and Judge Daniel M. Friedman , 73 , are approaching senior status or retirement
+6	so patent lawyers and research-based industries are making a new push for specialists to be added to the court	Several organizations , including the Industrial Biotechnical Association and the Pharmaceutical Manufacturers Association , have asked the White House and Justice Department to name candidates with both patent and scientific backgrounds
+8	Several organizations , including the Industrial Biotechnical Association and the Pharmaceutical Manufacturers Association , have asked the White House and Justice Department to name candidates with both patent and scientific backgrounds	The associations would like the court to include between three and six judges with specialized training
+8	Their effort has received a lukewarm response from the Justice Department	We do not feel that seats are reserved ( for patent lawyers )
+6	The Justice Department 's view is shared by other lawyers and at least one member of the court , Judge H. Robert Mayer	I believe that any good lawyer should be able to figure out and understand patent law
+2	These rate indications are n't directly comparable	lending practices vary widely by location
+8	Posted yields on 30-year mortgage commitments for delivery within 30 days	9.80 % , standard conventional fixed-rate mortgages
+7	Only a few months ago , the 124-year-old securities firm seemed to be on the verge of a meltdown , racked by internal squabbles and defections	Its relationship with parent General Electric Co. had been frayed since a big Kidder insider-trading scandal two years ago
+7	Its relationship with parent General Electric Co. had been frayed since a big Kidder insider-trading scandal two years ago	Chief executives and presidents had come and gone
+8	it 's at a turning point	By the end of this year , 63-year-old Chairman Silas Cathcart -- the former chairman of Illinois Tool Works who was derided as a `` tool-and-die man '' when GE brought him in to clean up Kidder in 1987 -- retires to his Lake Forest , Ill. , home , possibly to build a shopping mall on some land he owns
+2	By the end of this year , 63-year-old Chairman Silas Cathcart retires to his Lake Forest , Ill. , home	I 've done what I came to do '' at Kidder
+8	try to make good on some grandiose plans	he will return Kidder to prominence as a great investment bank
+2	Wall Street is understandably skeptical	Through the first nine months of the year , Kidder ranks a distant 10th among underwriters of U.S. stocks and bonds , with a 2.8 % market share , up slightly from 2.5 % in the year-earlier period , according to Securities Data Co
+1	In 1988 , Kidder eked out a $ 46 million profit , mainly because of severe cost cutting	Its 1,400-member brokerage operation reported an estimated $ 5 million loss last year
+1	In fact , Kidder is a minor player in just about every business it does except computer-driven program trading	in that controversial business , only Morgan Stanley & Co. rivals Kidder
+6	he has done a `` complete rethink '' of Kidder in recent months	There have been a dizzying parade of studies of the firm 's operations
+7	There have been a dizzying parade of studies of the firm 's operations	More than 20 new managing directors and senior vice presidents have been hired since January
+7	More than 20 new managing directors and senior vice presidents have been hired since January	The firm 's brokerage force has been trimmed and its mergers-and-acquisitions staff increased to a record 55 people
+5	Mr. Carpenter says that when he assumes full control , Kidder will finally tap the resources of GE	One of GE 's goals when it bought 80 % of Kidder in 1986 was to take advantage of `` syngeries '' between Kidder and General Electric Capital Corp. , GE 's corporate-finance unit , which has $ 42 billion in assets
+6	Yet We 've really started to exploit the synergy between GE Capital and Kidder Peabody	The units have worked on 37 investment banking deals this year though not all of them have panned out
+4	We 've had a good relationship with GE , which is the first time you could say that -- uh , let me withdraw that	It 's been a steadily improving relationship
+2	A month ago , the firm started serving dinner at about 7:30 each night	about 50 to 60 of the 350 people in the investment banking operation have consistently been around that late
+6	Everywhere , Kidder stresses the `` always working '' theme	A new in-house magazine , Kidder World -- which will focus on the firm 's synergy strategy , says Mr. Carpenter -- confides that on weekends Mr. Newquist `` often gets value-added ideas while flying his single-engine Cessna Centurion on the way to Nantucket
+2	of the opportunity to `` rebuild a franchise '' at Kidder	The Kidder name is one of only six or seven that every CEO recognizes as a viable alternative '' when considering a merger deal
+2	The Kidder name is one of only six or seven that every CEO recognizes as a viable alternative '' when considering a merger deal	Now , according to a Kidder World story about Mr. Megargel , all the firm has to do is `` position ourselves more in the deal flow
+5	With investment banking as Kidder 's `` lead business , '' where do Kidder 's 42-branch brokerage network and its 1,400 brokers fit in	Mr. Carpenter this month sold off Kidder 's eight brokerage offices in Florida and Puerto Rico to Merrill Lynch & Co
+1	Mr. Carpenter this month sold off Kidder 's eight brokerage offices in Florida and Puerto Rico to Merrill Lynch & Co. , refueling speculation that Kidder is getting out of the brokerage business entirely	Mr. Carpenter denies the speculation
+10	Mr. Carpenter denies the speculation	To answer the brokerage question , Kidder , in typical fashion , completed a task-force study
+5	Mr. Carpenter denies the speculation	To answer the brokerage question , Kidder , in typical fashion , completed a task-force study
+2	As part of the upscale push , Kidder is putting brokers through a 20-week training course , turning them into `` investment counselors '' with knowledge of corporate finance	They will get `` new and improved tools to sell , particularly to the affluent investor
+2	the crack about his being a `` tool-and-die man '' never bothered him	It was an absolutely marvelous line
+5	the new Kidder chief is `` going to be recognized shortly as one of the real leaders in the investment-banking business	In coming years Kidder is `` gon na hum
+8	However , workers ca n't break ground until legal maneuvers to block the complex are resolved , moves which caused the signing to remain questionable up to the last moment	a member of the Philippines ' House of Representatives has sued to stop the plant
+5	As previously reported , a member of the Philippines ' House of Representatives has sued to stop the plant	The legislator , Enrique Garcia , had actively backed the plant , but at the original site in his constituency northwest of Manila
+9	The legislator , Enrique Garcia , had actively backed the plant , but at the original site in his constituency northwest of Manila	The country 's Supreme Court dismissed the suit , but Mr. Garcia late last month filed for a reconsideration
+8	her government was attempting to soothe the feelings of residents at the original site , adjacent to the government 's major petroleum refinery in Bataan province	We have tried our best to tell the people in Bataan that maybe this time it will not go to them , but certainly we will do our best to encourage other investors to go to their province
+5	that USI Far East is confident other investors will take up the slack	USI Far East has applied to both the Asian Development Bank and the World Bank 's International Finance Corp. for financing that could include equity stakes
+5	El Paso owns and operates a petroleum refinery	Franklin is a closed-end management investment company
+1	THE YALE POLITICAL UNION does n't pay an honorarium to speakers	In Thursday 's edition , it was incorrectly indicated that the union had paid a fee to former House Speaker Jim Wright
+2	it would be a great tool for curbing the budget deficit and slicing the lard out of government programs	He wants it now
+2	Not so fast	I consider it one of the stupidest ideas of the 20th century
+2	President Bush badly wants a line-item veto and has long called for a law giving it to the president	that he might not rely on Congress to pass the line-item veto law he seeks
+8	that he might not rely on Congress -- which has n't shown any willingness to surrender such authority -- to pass the line-item veto law he seeks	Mr. Bush is considering simply declaring that the Constitution gives him the power , exercising a line-item veto and inviting a court challenge to decide whether he has the right
+2	Although that may sound like an arcane maneuver of little interest outside Washington , it would set off a political earthquake	The ramifications are enormous
+2	The ramifications are enormous	It 's a real face-to-face arm wrestling challenge to Congress
+2	and for that reason , the president may back down from launching a test case this year	Some senior advisers argue that with further fights over a capital-gains tax cut and a budget-reduction bill looming , Mr. Bush already has enough pending confrontations with Congress
+2	Some senior advisers argue that with further fights over a capital-gains tax cut and a budget-reduction bill looming , Mr. Bush already has enough pending confrontations with Congress	They prefer to put off the line-item veto until at least next year
+5	when Vice President Dan Quayle told an audience in Chicago that Mr. Bush was looking for a test case	White House Press Secretary Marlin Fitzwater confirmed that Mr. Bush was interested in the idea
+2	that a line-item veto would go a long way in restoring discipline to the budget process	that a president needs the ability to surgically remove pork-barrel spending projects that are attached to big omnibus spending bills
+2	that a president needs the ability to surgically remove pork-barrel spending projects that are attached to big omnibus spending bills	Those bills ca n't easily be vetoed in their entirety because they often are needed to keep the government operating
+5	Conservatives note that 43 governors have the line-item veto to use on state budgets	More provocatively , some conservative legal theorists have begun arguing that Mr. Bush does n't need to wait for a law giving him the veto because the power already is implicit in the Constitution
+2	and that it would quickly make its way to the Supreme Court to be ultimately resolved	It 's a major issue , and they would n't want to leave it at a lower level
+2	a line-item veto would expand a president 's powers far beyond anything the framers of the Constitution had in mind	It puts this president in the legislative business
+1	It puts this president in the legislative business	That 's not what our fathers had in mind
+1	that , as a lawmaker from the San Francisco area , he fights each year to preserve federal funds for the Bay Area Rapid Transit system	If a president had a line-item veto and wanted to force him to support a controversial foreign-policy initiative the president could call and declare that he would single-handedly kill the BART funds unless the congressman `` shapes up '' on the foreign-policy issue
+2	But there may be another problem with the device : Despite all the political angst it would cause , it might n't be effective in cutting the deficit	Big chunks of the government budget , like the entitlement programs of Social Security and Medicare , would n't be affected
+7	Big chunks of the government budget , like the entitlement programs of Social Security and Medicare , would n't be affected	Governors have found that they have to use the device sparingly to maintain political comity
+2	that the veto would have what Mr. Glazier calls an important `` chilling effect '' on all manner of appropriations bills	Lawmakers would avoid putting many spending projects into legislation in the first place for fear of the embarrassment of having them singled out for a line-item veto later
+2	Whatever the outcome of a test case , President Bush would have to move cautiously becase the very attempt would `` antagonize not just Democrats but Republicans	Republicans have as much interest as Democrats in `` the way the system works
+6	Indeed , although a majority of Republican lawmakers favor a line-item veto , some , ranging from liberal Oregon Sen. Mark Hatfield to conservative Rep. Edwards are opposed	Rep. Edwards voices the traditional conservative view that it 's a mistake to put too much power in the hands of a single person
+2	that it 's a mistake to put too much power in the hands of a single person	Conservatives pushing for a line-item veto now may regret it later
+2	This has n't been Kellogg Co. 's year	The oat-bran craze has cost the world 's largest cereal maker market share.The company 's president quit suddenly.And now Kellogg is indefinitely suspending work on what was to be a $ 1 billion cereal plant
+6	This has n't been Kellogg Co. 's year	The oat-bran craze has cost the world 's largest cereal maker market share.The company 's president quit suddenly.And now Kellogg is indefinitely suspending work on what was to be a $ 1 billion cereal plant
+7	The oat-bran craze has cost the world 's largest cereal maker market share	The company 's president quit suddenly
+5	much of Kellogg 's erosion has been in such core brands as Corn Flakes , Rice Krispies and Frosted Flakes , which represent nearly one-third of its sales volume	Kellogg is so anxious to turn around Corn Flakes sales that it soon will begin selling boxes for as little as 99 cents
+2	Cheerios and Honey Nut Cheerios have eaten away sales normally going to Kellogg 's corn-based lines simply because they are made of oats	They are not a happy group of people at Battle Creek right now
+5	Another analyst , John C. Maxwell Jr. of Wheat , First Securities in Richmond , Va. , recently went to a `` sell '' recommendation on Kellogg stock , which closed Friday at $ 71.75 , down 75 cents , in New York Stock Exchange composite trading	I do n't think Kellogg can get back to 40 % this year
+8	Kellogg 's main problem is life style	People are reading the boxes and deciding they want something that 's ` healthy ' for you -- oats , bran
+2	People are reading the boxes and deciding they want something that 's ` healthy ' for you -- oats , bran	he would n't be surprised if , over the next two years or so , General Mills ' share increased to 30 % or more
+5	Cereal volume growth in the U.S. has not met our expectations for 1989	construction would n't resume until market conditions warrant it
+6	Kellogg indicated that it has room to grow without adding facilities	The company has five other U.S. plants , including a modern facility at its Battle Creek headquarters known as Building 100
+1	General Mills , meanwhile , finds itself constrained from boosting sales further because its plants are operating at capacity	A large plant in Covington , Ga. , is to come on line next year
+8	it was `` possible , but highly unlikely , '' that the plant might never be built	As we regain our leadership level where we have been , and as we continue to put new products into the marketplace and need additional capacity , we will look at resuming our involvement with our plan
+6	But in recent weeks , construction-industry sources reported that early preparation work was slowing at the 185-acre site	Subcontractors said they were told that equipment orders would be delayed
+7	they were told that equipment orders would be delayed	Fluor Daniel already has reassigned most of its work crew
+4	Last Friday 's announcement was the first official word that the project was in trouble and that the company 's plans for a surge in market share may have been overly optimistic	Until recently , Kellogg had been telling its sales force and Wall Street that by 1992 it intended to achieve a 50 % share of market , measured in dollar volume
+1	an earnings increase for the full year	Last year , the company earned $ 480.4 million , or $ 3.90 a share , on sales of $ 4.3 billion
+8	As expected , Kellogg reported lower third-quarter earnings	Net fell 16 % to $ 123.1 million , or $ 1.02 a share , from $ 145.7 million , or $ 1.18 a share
+5	Net fell 16 % to $ 123.1 million , or $ 1.02 a share , from $ 145.7 million , or $ 1.18 a share	Sales rose 4.8 % to $ 1.20 billion from $ 1.14 billion
+9	it will retain its Automotive Connectors and Cliff Impact divisions	The divisions that Parker Hannifin is retaining were n't mentioned in Thursday 's edition
+5	Sun Microsystems Inc. -- $ 125 million of 6 3/8 % convertible subordinated debentures due Oct. 15 , 1999 , priced at 84.90 to yield 7.51 %	The debentures are convertible into common stock at $ 25 a share , representing a 24 % conversion premium over Thursday 's closing price
+5	The debentures are convertible into common stock at $ 25 a share , representing a 24 % conversion premium over Thursday 's closing price	Rated single-B-1 by Moody 's Investors Service Inc. and single-B-plus by Standard & Poor 's Corp. , the issue will be sold through underwriters led by Goldman , Sachs & Co
+5	The issue , which is puttable back to the company in 1999 , was priced at a spread of 110 basis points above the Treasury 's 10-year note	Rated single-A-3 by Moody 's and triple-B by S & P , the issue will be sold through underwriters led by Merrill Lynch Capital Markets
+9	QUANTUM CHEMICAL Corp. 's plant in Morris , Ill. , is expected to resume production in early 1990	The year was misstated in Friday 's editions
+5	The deficit was 466 billion lire in August	For the first nine months , the trade deficit was 14.933 trillion lire , compared with 10.485 trillion lire in the year-earlier period
+1	For the first nine months , the trade deficit was 14.933 trillion lire , compared with 10.485 trillion lire in the year-earlier period	Istat said the statistics are provisional and are n't seasonally adjusted
+5	Imports rose 11 % to 18.443 trillion lire in September from a year earlier , while exports rose 17 % to 16.436 trillion lire	In the nine months , imports rose 20 % to 155.039 trillion lire , while exports grew 18 % to 140.106 trillion lire
+7	The state-owned industrial holding company Instituto Nacional de Industria and the Bank of Spain jointly hold a 13.94 % stake in Banco Exterior	The government directly owns 51.4 % and Factorex , a financial services company , holds 8.42 %
+7	The government directly owns 51.4 % and Factorex , a financial services company , holds 8.42 %	The rest is listed on Spanish stock exchanges
+2	that Banco Exterior may have waited too long to diversify from its traditional export-related activities	Catching up with commercial competitors in retail banking and financial services will be difficult , particularly if market conditions turn sour
+8	Instead , they are working to transform Banco Exterior into an efficient bank by the end of 1992	I want this to be a model of the way a public-owned company should be run
+2	We 've got a lot to do	We 've got to move quickly
+5	In Mr. Luzon 's first year , the bank eliminated 800 jobs	Now it says it 'll trim another 1,200 jobs over the next three to four years
+2	The bank is now aggressively marketing retail services at its domestic branches	Last year 's drop in export credit was partially offset by a 15 % surge in lending to individuals and small and medium-sized companies
+6	Expansion plans also include acquisitions in growing foreign markets	The bank says it 's interested in purchasing banks in Morocco , Portugal and Puerto Rico
+2	Banco Exterior was one of the last banks to create a brokerage house before the four Spanish stock exchanges underwent sweeping changes in July	The late start may be a handicap for the bank as Spain continues to open up its market to foreign competition
+8	The move is consistent with a trend for corporate legal staffs to do more work in-house , instead of farming it out to law firms	Mr. Pearce set up GM 's first in-house litigation group in May with four lawyers , all former assistant U.S. attorneys with extensive trial experience
+5	Mr. Pearce set up GM 's first in-house litigation group in May with four lawyers , all former assistant U.S. attorneys with extensive trial experience	He intends to add to the litigation staff
+6	Mr. Pearce has also encouraged his staff to work more closely with GM 's technical staffs to help prevent future litigation	GM lawyers have been working with technicians to develop more uniform welding procedures
+8	That 's a finding of a new study of the Justice Department by researchers at Syracuse University	fewer trials probably means a growing number of plea bargains
+8	The Justice Department rejected the implication that its prosecutors are currently more willing to plea bargain	Our felony caseloads have been consistent for 20 years , '' with about 15 % of all prosecutions going to trial , a department spokeswoman said
+5	Our felony caseloads have been consistent for 20 years , '' with about 15 % of all prosecutions going to trial	The discrepancy is somewhat perplexing in that the Syracuse researchers said they based their conclusions on government statistics
+1	In 1980 prosecutors surveyed filed charges against 25 defendants for each 100,000 people aged 18 years and older	In 1987 , prosecutors filed against 35 defendants for every 100,000 adults
+6	Prosecutors set significantly different priorities	The Manhattan U.S. attorney 's office stressed criminal cases from 1980 to 1987 , averaging 43 for every 100,000 adults.But the New Jersey U.S. attorney averaged 16.On the civil side , the Manhattan prosecutor filed an average of only 11 cases for every 100,000 adults during the same period ; the San Francisco U.S. attorney averaged 79
+1	The Manhattan U.S. attorney 's office stressed criminal cases from 1980 to 1987 , averaging 43 for every 100,000 adults.But the New Jersey U.S. attorney averaged 16	On the civil side , the Manhattan prosecutor filed an average of only 11 cases for every 100,000 adults during the same period ; the San Francisco U.S. attorney averaged 79
+1	Mrs. Marcos 's attorneys asked federal Judge John F. Keenan to give them access to all U.S. documents about her alleged abduction	Mrs. Marcos was making the `` fanciful -- and factually unsupported -- claim that she was kidnapped into this country '' in order to obtain classified material in the case
+8	Mrs. Marcos and her husband were n't brought to the U.S. against their will after Mr. Marcos was ousted as president	they were in this country at the invitation of President Reagan and that they were enjoying the hospitality of the U.S
+9	He made numerous trips to the U.S. in the early 1980s , but was n't arrested until 1987 when he showed up as a guest of then-Vice President George Bush at a government function	A federal judge in Manhattan threw out the indictment , finding that the seven-year delay violated the defendant 's constitutional right to a speedy trial
+5	the judge did n't adequately consider whether the delay would actually hurt the chances of a fair trial	Mr. Koskotas is fighting extradition proceedings that would return him to Greece , where he is charged with embezzling more than $ 250 million from the Bank of Crete
+10	the judge did n't adequately consider whether the delay would actually hurt the chances of a fair trial	Mr. Koskotas is fighting extradition proceedings that would return him to Greece , where he is charged with embezzling more than $ 250 million from the Bank of Crete
+2	In an effort to stave off a plan that would require all lawyers in New York state to provide twenty hours of free legal aid a year , the state bar recommended an alternative program to increase voluntary participation in pro bono programs	The state bar association 's policy making body , the House of Delegate , voted Saturday to ask Chief Judge Sol Wachtler to give the bar 's voluntary program three years to prove its effectiveness before considering mandatory pro bono
+2	The state bar association 's policy making body , the House of Delegate , voted Saturday to ask Chief Judge Sol Wachtler to give the bar 's voluntary program three years to prove its effectiveness before considering mandatory pro bono	We believe our suggested plan is more likely to improve the availability of quality legal service to the poor than is the proposed mandatory pro bono plan and will achieve that objective without the divisiveness , distraction , administrative burdens and possible failure that we fear would accompany an attempt to impose a mandatory plan
+5	Jackson & Walker , a 130-lawyer firm in Dallas and Datson & Scofield , a 70-lawyer firm in Houston said they have agreed in principle to merge	The consolidated firm , which would rank among the 10 largest in Texas , would operate under the name Jackson & Walker
+8	Piggybacking on government assertions that General Electric Co. may have covered up fraudulent billings to the Pentagon , two shareholders have filed a civil racketeering suit against the company	The suit was filed by plaintiffs ' securities lawyer Richard D. Greenfield in U.S. District Court in Philadelphia
+8	The suit was filed by plaintiffs ' securities lawyer Richard D. Greenfield in U.S. District Court in Philadelphia	He seeks damages from the company 's 15 directors on grounds that they either `` participated in or condoned the illegal acts . . . or utterly failed to carry out their duties as directors
+9	The trial begins today in federal court in Philadelphia	The government 's assertions of the cover-up were made in last minute pretrial motions
+8	GE , which vehemently denies the government 's allegations , denounced Mr. Greenfield 's suit	It is a cheap-shot suit -- procedurally defective and thoroughly fallacious -- which was hurriedly filed by a contingency-fee lawyer as a result of newspaper reports
+5	It is a cheap-shot suit -- procedurally defective and thoroughly fallacious -- which was hurriedly filed by a contingency-fee lawyer as a result of newspaper reports	that the company was considering bringing sanctions against Mr. Greenfield for making `` grossly inaccurate and unsupported allegations
+2	Mr. Tonkin 's plan as unworkable	It `` is going to sound neat to the dealer except when his 15-day car supply does n't include the bright red one that the lady wants to buy and she goes up the street to buy one
+8	Gulf Power and federal prosecutors are considering a settlement under which the company would plead guilty to two felony charges and pay fines totaling between $ 500,000 and $ 1.5 million	Under one count , Gulf Power would plead guilty to conspiring to violate the Utility Holding Company Act
+7	Under one count , Gulf Power would plead guilty to conspiring to violate the Utility Holding Company Act	Under the second count , the company would plead guilty to conspiring to evade taxes
+8	The guilty pleas would be made solely by Gulf Power	No employee or vendor would be involved
+5	only that discussions are continuing between Gulf Power and federal prosecutors	We have no further developments to report
+5	We have no further developments to report	Officials at Gulf Power could n't be reached for comment
+5	Morever , Mr. Addison has said Southern Co. and its units do n't condone illegal political contributions	Neither Mr. Addison nor any other Southern Co. official has been charged with any wrongdoing in connection with the current inquiries
+9	the grand jury has asked numerous questions about Jacob F. `` Jake '' Horton , the senior vice president of Gulf Power who died in the plane crash in April	Mr. Horton oversaw Gulf Power 's governmental-affairs efforts
+2	On the morning of the crash , he had been put on notice that an audit committee was recommending his dismissal because of invoicing irregularities in a company audit	Investigators have been trying to determine whether the crash was an accident , sabotage or suicide
+2	However , about 120 employees will be affected by the agreement	it will attempt to place the employees within the company , IBM or other companies in Memphis
+5	it will attempt to place the employees within the company , IBM or other companies in Memphis	The process will take as many as six months to complete
+8	The statement was the U.S. government 's first acknowledgement of what other groups , such as the International Monetary Fund , have been predicting for months	Continued strength in the dollar was cited as one reason the trade position may deteriorate
+8	The Treasury 's report , which is required annually by a provision of the 1988 trade act , again took South Korea to task for its exchange-rate policies	We believe that there have continued to be indications of exchange-rate ` manipulation ' '' during the past six months
+2	The Treasury expressed pleasure , however , with the government of Taiwan , which was cited for exchange-rate manipulation in last year 's report	Taiwan has liberalized its exchange rate system in the past year
+8	The next time you hear a Member of Congress moan about the deficit , consider what Congress did Friday	The Senate , 84-6 , voted to increase to $ 124,000 the ceiling on insured mortgages from the FHA , which lost $ 4.2 billion in loan defaults last year
+5	Congress gave Senator Byrd 's state $ 21.5 million	Senator Byrd is chairman of the Appropriations Committee
+7	For construction in West Virginia , Mr. Bush requested $ 4.5 million ; Congress gave Senator Byrd 's state $ 21.5 million.Senator Byrd is chairman of the Appropriations Committee	For Iowa , a $ 1.8 million request became $ 12 million for Senator Grassley , ranking minority member of a military construction subcommittee
+7	For construction in West Virginia , Mr. Bush requested $ 4.5 million ; Congress gave Senator Byrd 's state $ 21.5 million.Senator Byrd is chairman of the Appropriations Committee.For Iowa , a $ 1.8 million request became $ 12 million for Senator Grassley , ranking minority member of a military construction subcommittee	Rep. Jamie Whitten of Mississippi and chairman of House Appropriations turned a $ 20 million Bush request for his state into a $ 49.7 million bequest
+7	For construction in West Virginia , Mr. Bush requested $ 4.5 million ; Congress gave Senator Byrd 's state $ 21.5 million.Senator Byrd is chairman of the Appropriations Committee.For Iowa , a $ 1.8 million request became $ 12 million for Senator Grassley , ranking minority member of a military construction subcommittee.Rep . Jamie Whitten of Mississippi and chairman of House Appropriations turned a $ 20 million Bush request for his state into a $ 49.7 million bequest	Senator Sasser of Tennessee is chairman of the Appropriations subcommittee on military construction ; Mr. Bush 's $ 87 million request for Tennessee increased to $ 109 million
+1	Mr. Bush 's $ 87 million request for Tennessee increased to $ 109 million	I think we 've seen the peak of military construction spending for many years to come
+7	Tell us about spending restraint	Tell us about the HUD scandals
+7	Tell us about the HUD scandals	Tell us what measure , short of house arrest , will get this Congress under control
+9	The agreement was announced by Costa Rican President Oscar Arias Friday , as President Bush and other leaders from the Western Hemisphere gathered in the Central American nation for a celebration of democracy	Costa Rica had been negotiating with the U.S. and other banks for three years , but the debt plan was rushed to completion in order to be announced at the meeting
+7	Under the plan , Costa Rica will buy back roughly 60 % of its bank debt outstanding at a deeply discounted price , according to officials involved in the agreement	The remainder of the debt will be exchanged for new Costa Rican bonds with a 6 1/4 % interest rate
+5	No non-competitive tenders will be accepted	Tenders , available in minimum denominations of $ 1 million , must be received by noon EST today at Federal Reserve Banks or branches
+0	The 13-week and 27-week bills will be issued tomorrow rather than Thursday , Nov. 2 , as originally planned	The three-month bills will still mature Feb. 1 , 1990 , and the six-month bills on May 3 , 1990
+4	it wo n't be able to honor reinvestment requests from holders of bills maturing Nov. 2 held in the Treasury 's book-entry system	The department will make payment for bills maturing on Nov. 2 to all investors who have requested reinvestment of their bills on that date , as well as to all account holders who have previously requested payment
+8	In the second quarter , American Pioneer reported a loss of $ 7.3 million , compared with net income of $ 1.1 million a year earlier	The banking operation had a loss of $ 8.7 million in the second quarter , largely because of problem real-estate loans , while the insurance operations earned $ 884,000
+7	Several other reports come before Friday 's jobs data , including : the September leading indicators index , new-home sales and October agricultural prices reports due out tomorrow ; the October purchasing managers ' index and September construction spending and manufacturers ' orders on Wednesday ; and October chain-store sales on Thursday	Friday brings the final count on October auto sales
+2	Wednesday 's report from the purchasing agents will be watched to see if the index maintains a level below 50 % , as it has for the past couple of months	A reading of less than 50 % indicates an economy that is generally contracting while a reading above 50 % indicates an economy that 's expanding
+1	greatly increased consumer optimism , a larger money supply and higher stock prices helped lift the index	to have been weaker
+1	that he will be keeping a closer eye than ususal on October chain-store sales	Usually , October `` is n't a very interesting month { for retail figures } because school clothes have been bought and people are waiting for December to buy Christmas presents
+5	he will watch the numbers to get an inkling of whether consumers ' general buying habits may slack off as much as their auto-buying apparently has	that higher gasoline prices will help buoy the October totals
+5	to have taken their toll on September new-home sales , which are believed to have fallen sharply from August 's 755,000 units	to have slipped about 0.5 % from August levels
+8	September orders for machine tools rebounded from the summer doldrums , but remained 7.7 % below year-earlier levels , according to figures from NMTBA	Domestic machine tool plants received $ 303 million of orders last month , up 33 % from August 's $ 227.1 million , but still below the $ 328.2 million of September 1988
+2	Overall demand still is very respectable	The outlook is positive for the intermediate to long term
+5	September was one of the biggest order months in our history	At a recent meeting of manufacturing executives , `` everybody I talked with was very positive
+8	At a recent meeting of manufacturing executives , `` everybody I talked with was very positive	they plan to spend more on factory equipment in 1990 than in 1989
+2	But sales of North American-made 1990-model cars are running at an annual rate of only six million , down from 7.1 million a year earlier.And truck sales also are off more than 20 %	Auto makers , who began deferring some equipment purchases last spring , can be expected to remain cautious about spending if their sales do n't pick up
+2	that recent developments in Eastern Europe will expand markets for U.S.-made machine tools in that region	There is demand for state-of-the-art machine tools in the Soviet Union and in other Eastern European countries as those nations strive to improve the efficiency of their ailing factories as well as the quality of their goods
+8	However , there 's a continuing dispute between machine tool makers and the Defense Department over whether sophisticated U.S. machine tools would increase the Soviet Union 's military might	The Commerce Department says go , and the Defense Department says stop
+1	Orders last month for metal-forming presses and other machinery to form metal with pressure surged to $ 110.1 million , a 78 % rise from $ 61.7 million a year earlier and a 55 % gain from $ 70.9 million in August	Today 's presses are large and costly machines , and a few orders can produce a high total for one month that does n't necessarily indicate a trend
+5	Machine tool shipments last month were $ 281.2 million , a 24 % rise from a year earlier and a 25 % increase from August	Shipments have run well ahead of 1988 all year , as machine tool builders produce against relatively good backlogs
+1	U.S. producers had a $ 2.15 billion backlog of unfilled orders at the end of September	That was up 2.8 % from a year earlier , even though orders for the first nine months of 1989 were down 19 % from the comparable 1988 period
+2	In Bombay stock market circles , the buzzword is `` mega	At least 40 companies are coming to the capital market to raise $ 6 billion , an amount never thought possible in India
+8	When they talk mega-issues , they 're truly talking mega	The capital market is booming
+6	But the mega-issues are raising megaquestions about the rapidly evolving Indian capital market	One is whether there is enough money to fund the new issues without depressing stock trading
+2	Moreover , in the relatively unregulated Indian stock markets , investors frequently do n't know what they are getting when they subscribe to an issue	A prospectus in India does n't always tell a potential investor much
+6	Moreover , in the relatively unregulated Indian stock markets , investors frequently do n't know what they are getting when they subscribe to an issue	A prospectus in India does n't always tell a potential investor much
+5	A prospectus in India does n't always tell a potential investor much	Some of the large amounts are being raised by small firms
+6	Some analysts are concerned that the mega-issues , in such an unregulated environment , could lead to a mega-crash	The rate of failures will be much more than the rate of successes in the mega-projects , '' says G.S . Patel , a former chairman of the giant , government-run mutual fund , the Unit Trust of India
+8	The rate of failures will be much more than the rate of successes in the mega-projects	They 're going to have mega-problems
+1	The $ 6 billion that some 40 companies are looking to raise in the year ending March 31 compares with only $ 2.7 billion raised on the capital market in the previous fiscal year	In fiscal 1984 , before Mr. Gandhi came to power , only $ 810 million was raised
+5	And it is n't the only giant issue : together , the top four issues will raise $ 1.3 billion	Convertible debentures -- bonds that can later be converted into equity shares -- are the most popular instrument this year
+6	When Mr. Gandhi came to power , he ushered in new rules for business	He said industry should build plants on the same scale as those outside India and benefit from economies of scale.If the output was too great for the domestic market , he said , companies should export
+8	India 's overregulated businessmen had to be persuaded , but they have started to think big	and they require more capital than the smaller industrial units built in the past
+5	Some of the projects being funded by the new issues are the first fruits of Mr. Gandhi 's policy , and they require more capital than the smaller industrial units built in the past	The industrial revolution has produced an explosion in the capital market , which is a far cheaper source of funds than government-controlled banks , where interest rates for prime borrowers are around 16 %
+8	The second factor spurring mega-issues is political	Mr. Gandhi has called general elections for November , and many businessmen fear that he and his Congress ( I ) Party will lose
+2	Mr. Gandhi has called general elections for November , and many businessmen fear that he and his Congress ( I ) Party will lose	Some companies are raising money in anticipation of a government less predictable than Mr. Gandhi 's , and possibly more restrictive
+2	that some of the money raised in the current spate of issues will be used as campaign donations before the elections	but India 's industrialists have a history of making under-the-table campaign donations
+5	that some of the money raised in the current spate of issues will be used as campaign donations before the elections	but India 's industrialists have a history of making under-the-table campaign donations
+6	So far , the mega-issues are a hit with investors	Earlier this year , Tata Iron & Steel Co. 's offer of $ 355 million of convertible debentures was oversubscribed
+7	Earlier this year , Tata Iron & Steel Co. 's offer of $ 355 million of convertible debentures was oversubscribed	Essar Gujarat Ltd. , a marine construction company , had similar success with a slightly smaller issue
+7	Earlier this year , Tata Iron & Steel Co. 's offer of $ 355 million of convertible debentures was oversubscribed.Essar Gujarat Ltd. , a marine construction company , had similar success with a slightly smaller issue	Larsen & Toubro started accepting applications for its giant issue earlier this month ; bankers and analysts expect it to be oversubscribed
+5	I do n't think it will lead to any chaos in the secondary market only a sagging tendency	The `` markets are headed for growth unheard of and unseen before
+8	In the past , the government controlled the markets indirectly , through its tight grip on industry itself	Various ministries decided the products businessmen could produce and how much ; and government-owned banks controlled the financing of projects and monitored whether companies came through on promised plans
+2	But now , with large amounts being raised from investors , the government 's dawdling on regulation and disclosure requirements has a more dangerous aspect	The Securities and Exchange Board of India was set up earlier this year , along the lines of the U.S. Securities and Exchange Commission , but New Delhi has n't pushed the legislation to make it operational
+2	Mega or non-mega , we feel the prospectus standards need to be considerably improved	Disclosures are very poor in India
+6	Disclosures are very poor in India	the big questions -- `` Do you really need this much money to put up these investments ? Have you told investors what is happening in your sector ? What about your track record ? -- `` are n't asked of companies coming to market
+7	Do you really need this much money to put up these investments	Have you told investors what is happening in your sector
+7	Have you told investors what is happening in your sector	What about your track record
+5	The engineering company was acquired in a takeover earlier this year by the giant Reliance textile group	Although Larsen & Toubro had n't raised money from the public in 38 years , its new owners frequently raise funds on the local market
+6	Although Larsen & Toubro had n't raised money from the public in 38 years , its new owners frequently raise funds on the local market	Reliance floated a $ 357 million petrochemical company in 1988 that was , at the time , the largest public issue in Indian history
+1	Larsen & Toubro , for example , says	Unlike other companies , it has n't pin-pointed specific projects for the funds
+5	Someone must monitor where the funds are deployed	There is no proper monitoring and screening of the use of these funds
+5	There is no proper monitoring and screening of the use of these funds	They 're trying to plug the various loopholes , but they 're totally unprepared for this
+1	Because of the large amounts of money being raised , the loose disclosure requirements and the casual monitoring of how the money is used , some analysts fear that there could be a few mega-crashes , which could hurt market confidence far more than the small bankruptcies that followed the boom of 1986	The government insists that such a possibility is low
+8	The government insists that such a possibility is low	It says that despite loose regulation of the market itself , its longstanding regulation of industry will prevent such crashes
+1	Finnair and SAS said they plan to swap stakes in each other	Neither disclosed details pending board meetings next month
+5	that SAS would take a stake of at least 6 % in Finnair , valued at about $ 40 million at current market prices	Finnair would receive SAS shares valued at the same amount
+5	that it received permission late Thursday from U.S. antitrust regulators to increase its Jaguar holdings past the $ 15 million level	Ford got a similar go-ahead earlier in October
+5	In late trading Friday , Jaguar shares bucked the downward tide in London 's stock market and rose five pence to 725 pence ( $ 11.44 )	Trading volume was a moderately heavy 3.1 million shares
+1	Trading volume was a moderately heavy 3.1 million shares	In the U.S. , Jaguar 's American depositary receipts were among the most active issues Friday in national over-the-counter trading where they closed at $ 11.625 each , up 62.5 cents
+5	British government restrictions prevent any single shareholder from going beyond 15 % before the end of 1990 without government permission	The British government , which owned Jaguar until 1984 , still holds a controlling `` golden share '' in the company
+8	With the golden share as protection , Jaguar officials have rebuffed Ford 's overtures , and moved instead to forge an alliance with GM	Jaguar officials have indicated they are close to wrapping up a friendly alliance with GM that would preserve Jaguar 's independence , but no deal has been announced
+2	it 's willing to bid for all of Jaguar , despite the objections of Jaguar chairman Sir John Egan	that Ford may try to force the issue by calling for a special shareholder 's meeting and urging that the government and Jaguar holders remove the barriers to a full bidding contest before December 1990
+2	Ford officials will seek a meeting this week with Sir John to outline their proposal for a full bid	Any discussions with Ford could postpone the Jaguar-GM deal , headed for completion within the next two weeks
+8	Jaguar and GM hope to win Jaguar shareholders approval for the accord partly by structuring it in a way that would n't preclude a full Ford bid once the golden share expires	There 's either a minority { stake } package capable of getting Jaguar shareholder approval or there is n't If there is n't , { the deal } wo n't be put forward '' to shareholders
+8	There 's either a minority { stake } package capable of getting Jaguar shareholder approval or there is n't	If there is n't , { the deal } wo n't be put forward '' to shareholders
+5	Union sentiment also could influence shareholder reaction to a Jaguar-GM accord	GM 's U.K. unit holds crucial talks today with union officials about its consideration of an Ellesmere Port site for its first major engine plant in Britain
+2	about its consideration of an Ellesmere Port site for its first major engine plant in Britain	If they try to build it somewhere else { in Europe } besides the U.K. , they are going to be in big trouble '' with unionists over any Jaguar deal
+8	I 'm OK , Jack	I 'm OK
+2	I 'll always be with you , Jack	Do n't worry
+4	Of course that was n't the actual conversation the late anti-war activist , protest leader and founder of the Yippies ever had with his brother	It 's a script pieced together from interviews by CBS News for a re-enactment , a dramatic rendering by an actor of Mr. Hoffman 's ultimately unsuccessful struggle with depression
+8	The segment is soon to be broadcast on the CBS News series `` Saturday Night With Connie Chung , '' thus further blurring the distinction between fiction and reality in TV news	It is the New Journalism come to television
+2	who is n't new to the character	He was Mr. Hoffman in a 1979 Los Angeles production of a play called `` The Chicago Conspiracy Trial
+2	Television news , of course , has always been part show-biz	Broadcasters have a healthy appreciation of the role entertainment values play in captivating an audience
+7	Since its premiere Sept. 16 , the show on which Ms. Chung appears has used an actor to portray the Rev . Vernon Johns , a civil-rights leader , and one to play a teenage drug dealer	It has depicted the bombing of Pan Am flight 103 over the Scottish town of Lockerbie
+7	It has depicted the bombing of Pan Am flight 103 over the Scottish town of Lockerbie	On Oct. 21 , it did a rendition of the kidnapping and imprisonment of Associated Press correspondent Terry Anderson , who was abducted in March 1985 and is believed to be held in Lebanon
+8	On Oct. 21 , it did a rendition of the kidnapping and imprisonment of Associated Press correspondent Terry Anderson , who was abducted in March 1985 and is believed to be held in Lebanon	The production had actors playing Mr. Anderson and former hostages David Jacobsen , the Rev . Benjamin Weir and Father Lawrence Jenco
+6	ABC News has similarly branched out into entertainment gimmickry	Prime Time Live , '' a new show this season featuring Sam Donaldson and Diane Sawyer , has a studio audience that applauds and that one night ( to the embarrassment of the network ) waved at the camera like the crowd on `` Let 's Make a Deal
+0	that one night ( to the embarrassment of the network ) waved at the camera like the crowd on `` Let 's Make a Deal	ABC stops short of using an `` applause '' sign and a comic to warm up the audience
+4	ABC stops short of using an `` applause '' sign and a comic to warm up the audience	The stars do that themselves
+1	News programs , particularly if they score well in the ratings , appeal to the networks ' cost-conscious corporate parents because they are so much less expensive to produce than an entertainment show is -- somewhere between $ 400,000 and $ 500,000 for a one-hour program	Entertainment shows tend to cost twice that
+8	Re-enactments have been used successfully for several seasons on such syndicated `` tabloid TV '' shows as `` A Current Affair	That show , whose host is Ms. Chung 's husband , Maury Povich , has a particular penchant for grisly murders and stories having to do with sex -- the Robert Chambers murder case , the Rob Lowe tapes , what have you
+8	Nowhere have eyes been opened wider than at CBS News	At 555 W. 57th St. in Manhattan , one floor below the offices of `` 60 Minutes , '' the most successful prime-time news program ever , actors wait in the reception area to audition for `` Saturday Night With Connie Chung
+6	The network deals a lot with unknowns , including Scott Wentworth , who portrayed Mr. Anderson , and Bill Alton as Father Jenco , but the network has some big names to contend with , too	James Earl Jones is cast to play the Rev . Mr. Johns
+7	James Earl Jones is cast to play the Rev . Mr. Johns	Ned Beatty may portray former California Gov . Pat Brown in a forthcoming epsiode on Caryl Chessman , the last man to be executed in California , in 1960
+5	CBS News , which as recently as two years ago fired hundreds of its employees in budget cutbacks , now hires featured actors beginning at $ 2,700 a week	That is n't much compared with what Bill Cosby makes , or even Connie Chung for that matter
+4	CBS News is also re-enacting the 1979 Three Mile Island nuclear accident in Middletown , Pa. , with something less than a cast of thousands	It is combing the town of 10,000 for about 200 extras
+2	CBS News is also re-enacting the 1979 Three Mile Island nuclear accident in Middletown , Pa. , with something less than a cast of thousands	It is combing the town of 10,000 for about 200 extras
+2	It is combing the town of 10,000 for about 200 extras	On Oct. 20 , the town 's mayor , Robert Reid , made an announcement on behalf of CBS during half-time at the Middletown High School football game asking for volunteers
+5	There was a roll of laughter through the stands	They 're filming right now at the bank down the street , and they want shots of people getting out of cars and kids on skateboards
+5	and they want shots of people getting out of cars and kids on skateboards	They are approaching everyone on the street and asking if they want to be in a docudrama
+2	No way	I think re-enactments stink
+5	Though a re-enactment may have the flavor , Hollywood on the Hudson it is n't	Some producers seem tentative about the technique , squeamish even
+6	Re-creating events has , in general , upset news traditionalists , including former CBS News President Richard S. Salant and former NBC News President Reuven Frank , former CBS News anchorman Walter Cronkite and the new dean of the Columbia University Graduate School of Journalism , Joan Konner	Says she : `` Once you add dramatizations , it 's no longer news , it 's drama , and that has no place on a network news broadcast
+8	and that has no place on a network news broadcast	They should never be on
+6	Criticism of the Abbie Hoffman segment is particularly scathing among people who knew and loved the man	That includes his companion of 15 years , Johanna Lawrenson , as well as his former wife , Anita
+2	This is dangerous and misrepresents Abbie 's life	It 's a sensational piece about someone who is not here to defend himself
+2	that dramatization `` makes the truth flexible	It takes one person 's account and gives it authenticity
+8	The executive producer of `` Saturday Night With Connie Chung , '' Andrew Lack , declines to discuss re-creactions as a practice or his show , in particular	I do n't talk about my work
+1	but says CBS News is `` aware '' of the concerns of Ms. Lawrenson and Mr. Hoffman 's former wife	Neither woman was invited by CBS News to participate in a round-table discussion about Mr. Hoffman that is to follow the re-enactment
+2	he was concerned at first that the script would `` misrepresent an astute political mind , one that I admired , '' but that his concerns were allayed	The producers did a good job of depicting someone `` who had done so much , but who was also a manic-depressive
+9	Last year , Dentsu started HDM , a joint network with U.S. ad agency Young & Rubicam and Eurocom of France	A few months ago , Dentsu acquired 69 % of Australian agency Fortune Communication Holdings Ltd. for 5.9 million Australian dollars ( US $ 4.6 million )
+5	A few months ago , Dentsu acquired 69 % of Australian agency Fortune Communication Holdings Ltd. for 5.9 million Australian dollars ( US $ 4.6 million )	Dentsu has U.S. subsidiaries
+2	What is driving Dentsu 's international expansion largely is the need to keep up with its Japanese clients as they grow in the U.S. and Europe	If we do n't do something . . . we wo n't be able to catch up with demand
+5	If we do n't do something . . . we wo n't be able to catch up with demand	Our president said acquisition is an effective method
+1	Last year , Dentsu 's foreign business accounted for less than 10 % of total billings , but the company is aiming at 20 % in the near future	So far , it appears cautious about taking the big step
+6	Though Dentsu says it has no concrete acquisition plans or deadlines , it is laying the groundwork for international growth	It is setting up a special team in charge of international markets and training workers to do business abroad
+5	For the year ended March 31 , Dentsu sales rose 19 % to $ 8.9 billion from $ 7.5 billion , and net income jumped 59 % to $ 102 million from $ 64 million	Dentsu 's billings last year were larger than those of Young & Rubicam , the world 's second-largest ad agency , according to a survey by the publication Advertising Age
+2	But success overseas in unfamiliar markets could be trickier than for other industries such as manufacturers	On its own , Dentsu 's muscle in Japan may count for little in major foreign markets when seeking non-Japanese clients
+6	But Japanese agencies are cautious about expanding abroad because client relationships are different	Japanese agencies do business with rival clients in the same industry
+3	The show , one of five new NBC series , is the second casualty of the three networks so far this fall	Last week CBS Inc. canceled `` The People Next Door
+1	Thereafter , the rate will be renegotiated	that if no agreement is reached , other buyers will be sought by bid or auction
+1	the share issue is part of a strategy to strengthen Labatt 's balance sheet in anticipation of acquisitions to be made during the next 12 to 18 months	Labatt 's has no takeover bids outstanding currently
+2	Despite the inevitable comparison with Compaq , however , Texas Instruments ' new notebook wo n't be a direct competitor	While Compaq sells its machines to businesses through computer retailers , Texas Instruments will be selling most of its machines to the industrial market and to value-added resellers and original-equipment manufacturers
+5	The introductions also mark Texas Instruments ' plunge back into a technology it has all but ignored for the past several years	Although the Dallas-based computer giant introduced the first portable data terminal in 1971 -- a 38-pound monster -- and the world 's first microprocessor-based portable in 1976 , the only portable machines it has introduced since the first part of the decade have been `` dumb '' terminals with limited on-board processing ability
+5	Although the Dallas-based computer giant introduced the first portable data terminal in 1971 -- a 38-pound monster -- and the world 's first microprocessor-based portable in 1976 , the only portable machines it has introduced since the first part of the decade have been `` dumb '' terminals with limited on-board processing ability	It stopped selling a standard personal computer a while ago
+1	Now that is about to change , as Texas Instruments begins marketing two 14-pound laptop PCs with 20 megabyte and 40 megabyte hard drives	The laptops are not revolutionary and , indeed , are tardy in a market first opened by GRiD Systems Corp. , now a unit of Tandy Corp. , almost two years ago
+6	But the notebook , with the more advanced microprocessor and hard disk , is more innovative	Weighing 6.7 pounds with battery , the notebook measures 8.2 by 11.7 inches , has a 20-megabyte hard disk drive and boasts a backlit screen that is 22 % larger than Compaq 's
+7	Weighing 6.7 pounds with battery , the notebook measures 8.2 by 11.7 inches , has a 20-megabyte hard disk drive and boasts a backlit screen that is 22 % larger than Compaq 's	Its keyboard , according to industry consultants , is better than Compaq 's , but its battery life of two to three hours is shorter
+7	but its battery life of two to three hours is shorter	It does n't have an internal floppy disk drive , although a snap-on drive can be purchased separately
+7	but its battery life of two to three hours is shorter.It does n't have an internal floppy disk drive , although a snap-on drive can be purchased separately	Its greatest drawback may be its 3-inch thickness , big enough for one consultant to describe it as `` clunky
+5	List prices on the heavier Texas Instrument laptops will be $ 4,999 for the TI Model 25 , with a 20 megabyte disk drive , and $ 5,599 for the 40-megabyte Model 45	The notebook , the TI Model 12 , will be priced at $ 4,199
+1	Under current rules , investors in Taiwan can buy overseas stocks only through the purchase of mutual funds issued by local and foreign investment trusts	The new rules will allow investors to buy foreign stocks directly
+5	the brokerage service will be directed at individual investors who want to buy foreign and domestic stocks	It 's an attractive market with good growth opportunities
+8	The numbers show that `` we do n't have a monolithic economy	There are a lot of have and have-not markets
+2	the regional trends would continue through Christmas	The big mo is as much of a factor in retailing as in politics
+5	The council 's report is based on data the trade group buys from the U.S. Census Bureau	The information on 125 metropolitan markets is supplied by retailers such as Sears , Roebuck & Co. and K mart Corp. as well as closely held concerns such as R.H. Macy & Co
+6	strength in employment appears to have the biggest impact on sales growth	El Paso , Austin and Fort Worth , the three strongest retail markets in the nation , are all located in Texas , where employment grew a relatively strong 2 %
+1	El Paso , Austin and Fort Worth , the three strongest retail markets in the nation , are all located in Texas , where employment grew a relatively strong 2 %	Massachusetts , which has lost jobs in the computer and defense-related industries , was the weakest link in bleak New England
+6	The results reflect a reversal in the fortunes of the regions during the past two years	In 1987 , the West had the slowest sales growth , and the South and the Midwest were first and second respectively , according to the council
+6	that although retailers probably wo n't ever recover sales lost because of the California quake and Hurricane Hugo , they could see some benefits later on	Stores such as Sears that sell big-ticket durable goods might actually get a boost as consumers rush to replace items lost in the disasters
+1	that although retailers probably wo n't ever recover sales lost because of the California quake and Hurricane Hugo , they could see some benefits later on	Stores such as Sears that sell big-ticket durable goods might actually get a boost as consumers rush to replace items lost in the disasters
+2	In May 1988 , an ammonium perchlorate plant in Henderson owned by an American Pacific Corp. unit was leveled by a series of explosions	After the explosion , Kerr-McGee temporarily shut down its facility just south of Las Vegas for a safety inspection
+9	it has purchased 3,350 acres from the federal government in Clark County and plans to begin construction early next year	The new facility is expected to begin operations in early 1991
+5	The new facility is expected to begin operations in early 1991	The Henderson plant will continue its other chemical operations
+1	Elected as directors were Mr. Hollander , Frederick Ezekiel , Frederick Ross , Arthur B. Crozier and Rose Pothier	Removed from office were George Pratt , Robert E. Davis , Norman Gray , John Virtue , corporate secretary , and Barrett B. Weekes , chairman , president and chief executive officer
+1	Exact comparisons with the previous year were unavailable because of a change in the company 's fiscal calendar	The Tokyo-based company had net of 3.73 billion yen in the previous reporting period , which was the four months ended March 31
+5	Shiseido predicted that sales for the year ending next March 31 will be 318 billion yen , compared with 340.83 billion yen in the year ended Nov. 30 , 1988	It said it expects net to rise to 11 billion yen from 8.22 billion yen
+5	A total of 672 transactions were announced during the latest quarter , up 13 % from the year-earlier period 's 597	Transactions in which prices were disclosed totaled $ 71.9 billion , up 36 % from $ 52.9 billion a year earlier
+5	In the first nine months , 1,977 transactions were announced , up 15 % from 1,716 in the year-earlier period	Transactions in which prices were disclosed totaled $ 188.1 billion , up 15 % from $ 163.2 billion a year earlier
+5	MEDICINE SHOPPE INTERNATIONAL Inc. declared a 3-for-2 stock split , and substantially boosted the dividend payout	The franchiser of pharmacies said the added shares will be distributed Dec. 4 to stock of record Nov. 13
+1	insured losses from the earthquake at $ 960 million	This estimate does n't include claims under workers ' compensation , life , health disability and liability insurance and damage to infrastructure such as bridges , highways and public buildings
+5	Other insurance rates such as casualty insurance , which would cover liability claims , are n't likely to firm right away	the impact of losses from these catastrophes is n't likely to halt the growth of the industry 's surplus capital next year
+2	Property reinsurance rates are likely to climb first	The reinsurance market has been bloodied by disasters '' in the U.S. as well as in Great Britain and Europe
+8	Insurers typically retain a small percentage of the risks they underwrite and pass on the rest of the losses	Insurers buy this insurance protection for themselves by giving up a portion of the premiums they collect on a policy to another firm -- a reinsurance company , which , in turn , accepts a portion of any losses resulting from this policy
+6	Insurers buy this insurance protection for themselves by giving up a portion of the premiums they collect on a policy to another firm -- a reinsurance company , which , in turn , accepts a portion of any losses resulting from this policy	Insurers , such as Cigna Corp. , Transamerica Corp , and Aetna Life & Casualty Co. , buy reinsurance from other U.S.-based companies and Lloyd 's of London for one catastrophe at a time
+6	But some large insurers , such as State Farm Mutual Automobile Insurance Co. , do n't purchase reinsurance , but fund their own program	A few years ago , State Farm , the nation 's largest home insurer , stopped buying reinsurance because no one carrier could provide all the coverage that it needed and the company found it cheaper to self-reinsure
+5	A few years ago , State Farm , the nation 's largest home insurer , stopped buying reinsurance because no one carrier could provide all the coverage that it needed and the company found it cheaper to self-reinsure	The $ 472 million of losses State Farm expects from Hugo and an additional $ 300 million from the earthquake are less than 5 % of State Farm 's $ 16.7 billion total net worth
+5	In audio equipment , sales rose 13 % to 44.3 billion yen from 39.19 billion yen	Sales of electric appliances were flat
+5	The number of authorized common shares will remain at 100 million	Under the rights plan , holders will have one right for each common share held , with each right entitling the purchase of one common share for 100 Canadian dollars
+5	Under the rights plan , holders will have one right for each common share held , with each right entitling the purchase of one common share for 100 Canadian dollars	The rights plan would be triggered if a person or group acquires 20 % or more of the common shares outstanding without making an offer to all shareholders
+5	The charges in the 12-count indictment , which stem from events that allegedly occurred in late 1984 and early 1985 , involve enrollment procedures of six students and the preparation of certain reports , Wilfred said	No individuals were charged in the indictment
+5	that some directors , who have joined forces with company founder James Patterson , have ties to Wendy 's , a competing hamburger chain	The Patterson group , which controls about 42 % of Rally 's shares , also may seek control
+9	The threat came during a two-day celebration in Costa Rica to highlight Central America 's progress toward democracy in the region , attended by President Bush , Canadian Prime Minister Brian Mulroney and 14 other Western Hemisphere leaders	Mr. Bush returned to Washington Saturday night
+9	that he would end the cease-fire this week in response to the periodic Contra assaults against his army	that he would continue to abide by the cease-fire if the U.S. ends its financial support for the Contras
+5	that he would continue to abide by the cease-fire if the U.S. ends its financial support for the Contras	that the remaining U.S. humanitarian aid be diverted to disarming and demobilizing the rebels
+8	Not only did Mr. Ortega 's comments come in the midst of what was intended as a showcase for the region , it came as Nicaragua is under special international scrutiny in anticipation of its planned February elections	Outside observers are gathering in Nicaragua to monitor the registration and treatment of opposition candidates
+2	The administration should now state that if the { February } election is voided by the Sandinistas . . . they should call for military aid	In these circumstances , I think they 'd win
+6	Mr. Ortega 's threat to breach the cease-fire comes as U.S. officials were acknowledging that the Contras have at times violated it themselves	I have no reason to deny reports that some Contras ambushed some Sandinista soldiers
+5	It 's never very clear who starts what	that the U.S. has cut off aid to some rebel units when it was determined that those units broke the cease-fire
+6	Administration officials traveling with President Bush in Costa Rica interpreted Mr. Ortega 's wavering as a sign that he is n't responding to the military attacks so much as he is searching for ways to strengthen his hand prior to the elections	Mr. Abrams said that Mr. Ortega is seeking to demobilize the Contras prior to the elections to remove any pressure to hold fair elections
+8	it saw little significance in Mr. Petrie selling his stock to Petrie Stores	We did n't look at it and say , ` Oh my God , something is going to happen
+5	that Mr. Petrie or his company have been accumulating Deb Shops stock for several years , each time issuing a similar regulatory statement	no discussions currently are taking place between the two companies
+2	sales rose despite the adverse effect of Japan 's unpopular consumption tax , introduced in April	Increasing personal spending and capital investment are fueling growth
+5	Total sales gained 20 % to 122.36 billion yen from 102.01 billion yen	Exports made up 46.2 % of the latest year 's total , up from 39.8 % a year ago
+5	Nikon forecast sales for the year ending March 31 will rise 9.6 % to 240 billion yen	Pretax profit is expected to increase 18 % to 22 billion yen and net income is expected to rise 53 % to 10.5 billion yen
+5	the properties account for about 6 % of the company 's assets and produce about 5,000 barrels of oil and 35 million cubic feet of gas a day	Gulf Canada will likely report an extraordinary gain from the sale in the fourth quarter
+7	first-half computer sales totaled 555.5 billion yen , up 11 % from 500.26 billion yen a year earlier	Sales of electrical devices rose 13 % to 283.8 billion yen from 251.8 billion yen
+7	first-half computer sales totaled 555.5 billion yen , up 11 % from 500.26 billion yen a year earlier.Sales of electrical devices rose 13 % to 283.8 billion yen from 251.8 billion yen	sales of home electronic products advanced 3.7 % to 44.92 billion yen from 43.34 billion yen
+5	NEC forecast sales for the year ending next March 31 of 2.74 trillion yen , an increase of 27 % from the previous fiscal year	net income will rise 25 % to 69 billion yen
+9	Under the pact , Montedision will make a $ 37-a-share tender offer for Erbamont stock outstanding	The tender offer will be followed by the sale of all of Erbamont 's assets , subject to all of its liabilities , to Montedison
+1	The offer is based on several conditions , including obtaining financing	said it had received the reasonable assurance of Chase Manhattan Bank N.A . that the financing can be obtained
+5	it expects it will need about $ 215 million to buy the shares and pay related fees and expenses	that it has not begun discussions with financing sources , and said it expected to repay the amounts borrowed through proceeds of the liquidation
+2	In over-the-counter trading Friday , Jayark was quoted at 87.5 cents bid , down 15.625 cents	At the market price , the transaction has a total indicated value of $ 7.4 million
+5	Sales in the six months ended Sept. 30 were up 4.5 % to 229.03 billion yen from 219.27 billion yen	Sales were higher in all of the company 's business categories , with the biggest growth coming in sales of foodstuffs such as margarine , coffee and frozen food , which rose 6.3 %
+7	Oils and fats also did well , posting a 5.3 % sales increase	Sales in the category that includes pharmaceuticals , amino acids and chemicals rose 4.7 %
+5	sales in the current fiscal year ending next March 31 of 480 billion yen , compared with 460.05 billion yen in fiscal 1989	it expects full-year net of 16 billion yen , compared with 15 billion yen in the latest year
+1	Several longtime observers of the commodities industry think the fortunes of the Merc over the next decade will be determined to a large extent by how well its new natural gas futures contract does and how successful its new president is in raising the level of compliance by floor traders with exchange and Commodity Futures Trading Commission rules	If the exchange falters in these moves , they say , it might once again fall behind its chief New York competitor , the Commodity Exchange
+8	Only three weeks earlier , the Merc had turned to one of its own executives , 40-year-old R. Patrick Thompson , to replace Rosemary T. McFadden as president	Mr. Thompson is believed to have a mandate from the board of directors to help improve the Merc 's tarnished reputation as an exchange whose floor traders do n't follow the rules very well
+1	Ms. McFadden had been forced out in July in a bitter power struggle with Z. Lou Guttman , chairman and a longtime floor trader on the exchange	that he was looking for a president who would be `` responsive to the needs of the membership and the board
+9	By contrast , the Comex in July imported a highly regarded outsider , Arnold F. Staloff , as its president	Mr. Staloff , 44 , was a senior officer of the Philadelphia Stock Exchange and is considered a specialist in new financial products
+6	Mr. Thompson is n't bereft of experience with new products , however	For the past two years he and the exchange 's research department have been working on the new natural gas contract , seeking a good delivery site and studying the natural gas market
+1	Our members are eager to begin trading this contract , so we expect no difficulty in attracting locals to the natural gas pit	The educational effort of teaching companies in the natural gas industry how to use the futures to hedge would have to continue for another a year or two
+2	the biggest problem facing all commodity exchanges was one of image	Earlier this year , the U.S. attorney indicted 45 floor traders and one clerk at the two big Chicago exchanges
+6	the biggest problem facing all commodity exchanges was one of image	Earlier this year , the U.S. attorney indicted 45 floor traders and one clerk at the two big Chicago exchanges
+5	Earlier this year , the U.S. attorney indicted 45 floor traders and one clerk at the two big Chicago exchanges	Federal authorities in New York started investigating exchanges in May , though no indictments have been handed down there
+2	So far they have issued scores of subpoenas , some of which went to members of the New York Merc	Mr. Thompson will have to face some of the consequences of those subpoenas
+6	In a recent General Accounting Office study , the Merc was found to have been the most lax in enforcing exchange rules	It levied the smallest number of suspensions of traders and fines of the four largest commodity exchanges studied over the past five years
+1	that its compliance director , Kevin P. Conway , who then was responsible for policing the exchange 's busy oil and metal pits , `` was engaged in other personal business activities on Exchange time , '' including out-of-state trips , according to a New York Merc report prepared last year	Mr. Conway is no longer at the exchange
+1	We had a management breakdown in 1987 in terms of compliance	We recognized the problem and took care of it
+5	We recognized the problem and took care of it	that even if the natural gas contract boosts volume at the exchange strongly , the 1990 business plan calls for having adequate compliance people to ensure that exchange rules are being followed
+0	Periodically , there has even been talk of mergers between one or more exchanges	So far there is little to show for such efforts
+2	the case for working together is stronger now than ever	The cost of competition has become extremely high
+2	The cost of competition has become extremely high	We must find ways to save money for the futures commission merchants who do business on our exchanges
+5	We must find ways to save money for the futures commission merchants who do business on our exchanges	that progress in cooperation can be made in areas where no vested interests have built up
+6	that progress in cooperation can be made in areas where no vested interests have built up	One of those areas is the development of a hand-held electronic device that would permit floor traders to enter trades as they make them
+5	One of those areas is the development of a hand-held electronic device that would permit floor traders to enter trades as they make them	the creation of a system to record trade data so that an independent , verifiable audit trail can be established to prevent customer fraud
+5	The GAO has recommended the creation of a system to record trade data so that an independent , verifiable audit trail can be established to prevent customer fraud	The Merc is now cooperating with the Comex in developing such a device to provide such an audit trail
+2	Another major electronics problem faces Mr. Thompson -- the creation of a 24-hour trading system that can be used outside normal trading hours	In January , the New York Merc signed a letter of intent with the Chicago Merc as a preliminary step to joining their electronic system called Globex
+4	his exchange is n't waiting for the results of the Chicago exchanges ' cooperation	It recently began a pilot program to test an electronic trading system called ATS/2 , the automated trading system created by the International Commodities Clearing House
+5	there is good technical support between $ 1.10 and $ 1.12 a pound for December copper , which ended Friday at $ 1.1580 a pound , up 1.6 cents	the $ 1.10 to $ 1.12 range as a buying opportunity and considers the market oversold
+5	it wo n't climb further and he expects it to remain in a trading range between $ 1.10 and $ 1.25	that the equity markets will set the tone for the industrial metals this week and traders should keep an eye on Wall Street
+0	for a rally to occur , there must be demand from the Far East	that talk of strike settlements at producing mines has been fully discounted
+5	However , to resume the bull trend , according to Mr. O'Neill , copper would have to close over $ 1.19	there are two reports this week that might affect prices : the purchasing managers report on Wednesday and the unemployment report on Friday
+5	Friday 's strong price gains confirmed a turnaround in the precious metals markets , according to PaineWebber 's Mr. Frawley	Most traders will be looking to buy { on } pullbacks
+5	the moves in the metals last week were most influenced by the uncertainty in the equity and other financial markets	According to Mr. Frawley , floor traders say there is good support for December gold in the $ 374 to $ 375 per ounce area , around $ 5.20 an ounce for December silver and in the $ 485 to $ 490 an ounce range for January platinum
+5	the price action for all of last week is the best he has seen on a weekly basis in more than a year	last week 's activity in gold could portend a move to $ 390 an ounce for the December contract
+8	traders should be on the lookout for how metals producers react to this rally	I expect to see some selling , but will they kill this one as they have every rally in the recent past '' by selling and locking in prices for their production
+5	I expect to see some selling , but will they kill this one as they have every rally in the recent past '' by selling and locking in prices for their production	that for the first time in months there was some light investor interest in the metals
+2	In recent weeks , warm and dry weather has sped the Midwest harvest and that is permitting farmers to rebuild the stockpiles that were cut by the 1988 drought	If the weather allowed farmers to work in their fields over the weekend , many Midwest grain elevators will probably sell futures contracts today at the Chicago Board of Trade in order to hedge their weekend purchases from farmers
+2	If the weather allowed farmers to work in their fields over the weekend , many Midwest grain elevators will probably sell futures contracts today at the Chicago Board of Trade in order to hedge their weekend purchases from farmers	That selling of futures contracts by elevators is what helps keep downward pressure on crop prices during the harvest
+2	There may be some activity in soybean prices this week as investors try to get rid of the contract for November delivery	Investors usually do n't want to take physical delivery of a contract , preferring instead to profit from its price swings and then end any obligation to take delivery or make delivery as it nears expiration
+6	Thomson made significant concessions in the final round of talks	In addition to wage increases , the union negotiated improved vacation plans , benefit packages and pension plans
+8	For three years , a healthy economy and the export-boosting effects of a weak dollar propelled sales and earnings of the big paper companies to record levels	As the good times rolled they more than doubled their prices for pulp , a raw material used in all sorts of paper , to $ 830 a metric ton this past spring from $ 380 a ton at the start of 1986
+2	But now the companies are getting into trouble because they undertook a record expansion program while they were raising prices sharply	Third-quarter profits fell at several companies
+6	Other analysts are nearly as pessimistic	Gary Palmero of Oppenheimer & Co. expects a 30 % decline in earnings between now and 1991 for `` commodity-oriented '' paper companies , which account for the majority of the industry
+7	Gary Palmero of Oppenheimer & Co. expects a 30 % decline in earnings between now and 1991 for `` commodity-oriented '' paper companies , which account for the majority of the industry	Robert Schneider of Duff & Phelps sees paper-company stock prices falling 10 % to 15 % in 1990 , perhaps 25 % if there 's a recession
+2	much of the weakness to customer inventory reductions	that , barring a recession and a further strengthening of the dollar against foreign currencies , the industry is n't headed for a prolonged slump
+8	that , barring a recession and a further strengthening of the dollar against foreign currencies , the industry is n't headed for a prolonged slump	It wo n't be an earthshaking drop
+7	Oppenheimer 's Mr. Palmero , meanwhile , is steering clear of Gaylord Container , Stone Container and Federal Paper Board	Mr. Schneider is cool to Georgia Pacific and Abitibi-Price
+1	Oppenheimer 's Mr. Palmero , meanwhile , is steering clear of Gaylord Container , Stone Container and Federal Paper Board	Mr. Schneider is cool to Georgia Pacific and Abitibi-Price
+7	Mr. Schneider is cool to Georgia Pacific and Abitibi-Price	Lawrence Ross of PaineWebber would avoid Union Camp
+1	Mr. Schneider is cool to Georgia Pacific and Abitibi-Price	Lawrence Ross of PaineWebber would avoid Union Camp
+6	the analysts are too pessimistic	The odds of the dire predictions about us being right are small
+7	The odds of the dire predictions about us being right are small	that it is better positioned than most companies for the coming overcapacity because its individual mills can make more than one grade of paper
+5	that , unlike for some other paper products , demand for Stone 's principal commodity , unbleached containerboard , remains strong	the price for that product to rise even more next year
+1	analysts are skeptical of it because it 's carrying a lot of debt	We 've gotten our costs down and we 're better positioned for any cyclical downturn than we 've ever been
+8	We 're not as exposed as the popular perception of us	that its main product , bleached paperboard , which goes into some advertising materials and white boxes , historically does n't have sharp price swings
+2	he thinks that next year the share prices of some companies may fall at most only 5 % to 10 %	A company such as Federal Paper Board may be overly discounted and looks `` tempting '' to him
+6	Wall Street is n't avoiding everything connected with paper	Mr. Palmero recommends Temple-Inland , explaining that it is `` virtually the sole major paper company not undergoing a major capacity expansion , '' and thus should be able to lower long-term debt substantially next year
+6	their gloomy forecasts have a flip side	Some take a warm view of consumer-oriented paper companies , which buy pulp from the commodity producers and should benefit from the expected declines in pulp prices
+3	that the price drop should especially benefit the two big tissue makers , Scott Paper and Kimberly-Clark	A spokesman for Scott says that assuming the price of pulp continues to soften , `` We should do well
+2	it will report a write-off of $ 2.5 million , or seven cents a share , for its fourth quarter ended yesterday	transaction costs from its 1988 recapitalization as a result of a $ 160 million restructuring of its bank debt
+2	In addition , the effective interest rate on the $ 410 million of total remaining bank debt after the restructuring is 10.66 %	The combined effect of these changes is expected to save the company about $ 4 million in interest expenses next year , or six cents a share
+8	The company has made payments of $ 175 million against the original $ 585 million of bank debt incurred in connection with the recapitalization	These payments consisted of $ 54 million in scheduled payments and $ 121 million in prepayments , funded by $ 82.8 million from operating cash flow , zero-coupon subordinated debt and assets sales
+1	During the next decade Nissan plans to boost overseas vehicle production sufficiently to account for a majority of sales outside Japan	Last year Nissan exported slightly over one million vehicles , and produced 570,000 cars and trucks at its factories in North America , Europe and Australia
+2	By the end of the 1990s we want to be producing roughly two vehicles overseas for every vehicle that we export from Japan	That will involve a substantial increase in overseas manufacturing capacity
+5	National Intergroup in the year-ago third quarter earned $ 22.5 million , or 97 cents a share , including a gain of $ 18 million from the sale of a steel tube company	Revenue was $ 778.6 million
+5	Commercial banks and property/casualty insurers , which together own about 36 % of all municipal bonds , have been dumping their securities for weeks	Last week there were three institutional sellers for every buyer
+1	Every day we 're getting new bid lists '' from would-be sellers	Most dealers can not continue to absorb this supply
+8	There is incredible negative psychology building in the market	People are very concerned about who is going to step up to the plate and buy municipal bonds in the absence of institutional buyers
+5	For an investor in the 28 % federal tax bracket , 7.9 % tax-free is the same as 10.38 % on a taxable investment	That 's a taxable-equivalent yield nearly three percentage points more than the current yield on 30-year Treasury bonds
+3	How quickly things change	This past summer , investors ' appetite for municipal bonds seemed insatiable
+8	This past summer , investors ' appetite for municipal bonds seemed insatiable	Individuals eager for tax-free income drove up bond prices , making state and local government debt one of the best-performing types of fixed-income investments during the period
+6	the institutional selling was triggered by several factors	Big banks such as Chemical Bank and Chase Manhattan , which have been taking heavy charges to expand their Third World loan-loss reserves , are n't looking for tax-exempt income
+2	Big banks such as Chemical Bank and Chase Manhattan , which have been taking heavy charges to expand their Third World loan-loss reserves , are n't looking for tax-exempt income	We do n't need the shelter of tax-free bonds
+8	In recent weeks Chemical has sold more than $ 1 billion of tax-free bonds	that the bank has significantly reduced its muni holdings , but could n't immediately confirm the amount
+5	Insurance companies are rushing to sell before the end of the year , when some of their tax benefits associated with municipal bonds will be phased out	that property/casualty firms will sell even more munis as they scramble to raise cash to pay claims related to Hurricane Hugo and the Northern California earthquake
+6	Fundamental factors are at work as well	Muni bond holders are worried about the impact of a slowing economy on tax revenue , at a time when many state and local governments already face budget deficits and huge spending needs
+5	Muni bond holders are worried about the impact of a slowing economy on tax revenue , at a time when many state and local governments already face budget deficits and huge spending needs	The recent natural disasters , and the need of many other cities to rebuild crumbling infrastructure , suggests that supply of new issues will continue to rise sharply -- even as demand tapers off
+2	Mutual funds , for example , are said to be selling existing municipal bonds to raise cash to buy new issues	Because municipal bonds yields have risen at a time when interest rates generally have fallen , some portfolio managers are assuming that bonds bought now will appreciate in value as the municipal bond market rebounds
+8	But traders said the market 's tone could pick up this week if New York City 's $ 787 million bond offering goes well	The offering will include $ 729 million of 20-year tax-exempt bonds and $ 57.8 million of taxable bonds
+6	New York City bonds have been beaten down for three straight weeks	On Friday , some issues fell nearly one point , or close to $ 10 for each $ 1,000 face amount
+8	The sell-off in New York City bonds was triggered by concerns about the city 's financial health and political uncertainty in view of the impending mayoral election	The city 's economy is growing weaker and expenditures are rising as tax revenue is falling
+2	The city has issued so much supply recently that some people are getting a little concerned	They 'd like to see some other names in their portfolios
+5	The Treasury 's benchmark 30-year bond ended at a price of 102 2/32 , down nearly 5/8 point from Thursday , or about $ 6.25 for each $ 1,000 face amount	The issue 's yield rose to 7.93 % from 7.88 %
+8	The market also was hurt by rumors that Nippon Kangyo Kakumaru , a Japanese brokerage firm , was unloading some of the 30-year bonds it recently purchased	the talk was that the firm sold about $ 500 million of bellwether 30-year bonds
+2	by using Cantor Fitzgerald Securities Corp. as a broker	Cantor provides price quotes to Telerate Systems Inc. , a widely used electronic system
+5	Many of the RJR securities bounced back after the company 's announcement that it agreed to sell its Baby Ruth , Butterfinger and Pearson candy businesses to Nestle Foods , a unit of the Swiss-based food concern	The sale , expected to close before the end of the year , also includes a manufacturing plant in Franklin Park , Ill
+6	Other RJR securities also closed higher	RJR Holdings Capital Corp. 's 14.7 % convertible pay-in-kind securities maturing in 2009 closed 1/2 higher at 86 1/2 after trading as low as 85 1/4
+1	Most other junk bond issues finished a quarter-point lower on rumors that Campeau Corp. was filing for protection from creditors under Chapter 11 of the Bankruptcy Code	the rumors `` ridiculous
+5	Medicare Part B pays 80 % of a beneficiary 's allowable doctor 's bills after an annual deductible of $ 75	The Catastrophic Coverage Act would add a stop-loss provision next year to limit the maximum beneficiaries must pay for doctors
+5	The Catastrophic Coverage Act would add a stop-loss provision next year to limit the maximum beneficiaries must pay for doctors	Both the House and Senate bills to reduce the cost and coverage of the catastrophic-care plan would eliminate the cap on doctor 's bills
+1	If the House prevails in its efforts to kill the catastrophic-care plan , the monthly Part B premium will be $ 29 next year	If the Senate plan prevails , the premium will be $ 33.90 , with the additional $ 4.90 going to pay for expanded hospital coverage under Part A of Medicare
+5	it expects to make the cuts through a combination of furloughs , attrition and retirements	The reductions should be complete by the end of the year
+2	Defense contractors `` can not continue to get contracts on that basis	The pain is too great
+5	Separately , Innopac reported a fourth-quarter loss of about C $ 2.6 million , or 18 Canadian cents a share , reflecting inventory write-downs	The results made net income for the year ended Aug. 31 C $ 2.7 million , or 20 Canadian cents a share , down from C $ 9.7 million , or 70 Canadian cents a share last year
+5	The results made net income for the year ended Aug. 31 C $ 2.7 million , or 20 Canadian cents a share , down from C $ 9.7 million , or 70 Canadian cents a share last year	Revenue was C $ 291.6 million , up from C $ 252 million in 1988
+8	Innopac viewed Mr. Pattison 's decision to seek control as a `` very positive '' move	I 'm happy that he feels positively about our company
+1	I 'm happy that he feels positively about our company , '' he said	Mr. Fabi would n't say directly whether Mr. Pattison has disclosed potential terms for his planned bid for control
+5	Among other things , Innopac is involved in recycling polystyrene foam products that are often used by fast food chains , such as McDonald 's Corp. , for food packaging	A joint venture involving units of Innopac and Mobil Corp. earlier this year opened the first U.S. polystyrene recycling plant , in Leominster , Mass
+8	PROGRAM TRADING is being curbed by more securities firms	Bowing to criticism , Bear Stearns , Morgan Stanley and Oppenheimer joined PaineWebber in suspending stock-index arbitrage trading for their own accounts
+2	Personal spending rose 0.2 % in September , the smallest gain in a year	The slowdown raises questions about the economy 's strength because spending fueled much of the third-quarter GNP growth
+2	RJR Nabisco agreed to sell three candy businesses to Nestle for $ 370 million	The accord helps RJR pay off debt and boosts Nestle 's 7 % share of the U.S. candy market to 12 %
+2	GM and Ford are expected to go head to head in the markets to buy up rival 15 % stakes in Jaguar	GM confirmed it received U.S. antitrust clearance to boost its holding
+1	Americans did n't dislike metrics ; they simply ignored them	Scientists felt differently
+6	Scientists felt differently	In 1807 , the Swiss mathematician who headed the U.S. Coast and Geodetic Survey made an `` iron meter '' that he had brought from Europe the standard of measure.By the end of the century scientists had embraced the system
+2	Businessmen took their cue from the engineers	When Congress finally passed the Metric Conversion Act in 1975 , industry was far ahead
+1	When Congress finally passed the Metric Conversion Act in 1975 , industry was far ahead	Because the law made compliance voluntary , it inspired little more than jokes
+6	Because the law made compliance voluntary , it inspired little more than jokes	The press had a field day with questions about what would happen to `` six-footer , '' `` yardstick '' and `` inchworm
+7	General Motors , for example , uses metric terms for its automobile bodies and power trains . ( In auto advertising , however , items such as wheelbases are still described in inches	Farm-machine makers such as Caterpillar and Deere work in the metric system
+7	Farm-machine makers such as Caterpillar and Deere work in the metric system	The liquor industry went metric 10 years ago
+2	The Pentagon has led the charge , particularly as military alliances spread world-wide	New weapons systems will be around until the next century
+8	Still , like the auto makers , when dealing with Mr. Everyman the Pentagon sticks to the tried and true	Soldiers and sailors are still measured in inches and pounds
+5	What we 've done in eight weeks shows we wo n't have enormous difficulties getting to the place we want to be	his sales force is signing up schools at the rate of 25 a day
+1	In California and New York , state officials have opposed Channel One	private and parochial schools in both states will be canvassed to see if they are interested in getting the programs
+5	and Whittle continues to negotiate with 919 districts	About 10 % of the school districts approached have rejected the network
+1	that so far , three of the six schools that carried the program in a five-week test last spring have subscribed to the program	One of the test schools , Withrow High School in Cincinnati , rejected the project
+2	The number of correct responses was 45 % on the test and school absences did n't change much	The pilot program was received well ( by teachers and students ) , but there was n't reason enough to sign up
+5	The pilot program was received well ( by teachers and students ) , but there was n't reason enough to sign up	We even invited the public to stop by and see the program , but there was n't much interest
+6	Advertisers are showing interest	it had sold $ 150 million in advertising time on the network to national advertisers
+5	it had sold $ 150 million in advertising time on the network to national advertisers	several more advertisers have been added
+8	Whittle is spending $ 150 million initially to launch the network	Installation of satellite dishes , TVs and videocassette equipment will cost the company about $ 20,000 per school
+6	Now , stock prices seem to be in a general retreat	Since peaking at 2791.41 on Oct. 9 , the Dow Jones Industrial Average has lost 194.69 points , or 7 % , closing Friday at 2596.72 , down 17.01
+5	Since peaking at 2791.41 on Oct. 9 , the Dow Jones Industrial Average has lost 194.69 points , or 7 % , closing Friday at 2596.72 , down 17.01	The number of issues falling on the New York Stock Exchange each day is eclipsing the number of gainers
+8	There are , of course , analysts who view the near-panic that briefly swept through investors on Oct. 13 and again on Oct. 24 as momentary lapses of good judgment that have only temporarily undermined a healthy stock market	Sure , price action is volatile and that 's scary , but all-in-all stocks are still a good place to be
+2	The reaction to the UAL debacle `` is mindless	UAL is a small deal as far as the overall market is concerned
+5	UAL is a small deal as far as the overall market is concerned	The only way you can make it a big deal is to draw linkages that just do n't make sense
+1	There will still be deals	There may not be as many and the buyers may not get away with some of the things they 've done in the past
+5	There may not be as many and the buyers may not get away with some of the things they 've done in the past , but deals wo n't disappear	that the emphasis in mergers and acquisitions may soon return to what he calls `` strategic deals , in which somebody is taking over a company not to milk the cash flow , but because it 's a good fit
+2	Even the volatility created by stock index arbitrage and other computer-driven trading strategies is n't entirely bad , in Mr. Connolly 's view	For the long-term investor who picks stocks carefully , the price volatility can provide welcome buying opportunities as short-term players scramble frantically to sell stocks in a matter of minutes
+2	For the long-term investor who picks stocks carefully , the price volatility can provide welcome buying opportunities as short-term players scramble frantically to sell stocks in a matter of minutes	Who can make the better decision , the guy who has 10 seconds to decide what to do or the guy with all the time in the world
+5	Who can make the better decision , the guy who has 10 seconds to decide what to do or the guy with all the time in the world	What on earth does the UAL deal have to do with the price of Walmart , which I was able to buy on Oct. 16 at a very attractive price
+2	Kidder Peabody 's Mr. Jarrett also sees some benefits to the stock market 's recent drop	We 've run into a market that was beginning to run out of steam and get frothy
+2	We 've run into a market that was beginning to run out of steam and get frothy	that when somebody came along with a pin -- in this case the UAL deal -- we got a little pop
+8	The pop sobered up investors who had been getting a little too ebullient	It provided an excuse for people to get back to reality and to look at the economic data , especially the third-quarter economic numbers , and to realize that we ca n't continue to gloss over what is going on in the junk bond market
+8	that at current levels the stock market is comfortably valued , even with the economy obviously slowing	Just because we 've got some realism back in the market does n't mean it 's going lower from here
+5	The bottom line is that it 's healthy to have this kind of sideways activity , especially after a 30 % gain in stock values over the past 12 months	that after a period of consolidation , the Dow Jones Industrial Average will once again forge new highs
+2	maybe not	Abby Joseph Cohen , a market strategist at Drexel Burnham Lambert , is n't nearly so sanguine about the market 's chances of surging to new highs anytime soon
+6	maybe not	Abby Joseph Cohen , a market strategist at Drexel Burnham Lambert , is n't nearly so sanguine about the market 's chances of surging to new highs anytime soon
+4	Abby Joseph Cohen , a market strategist at Drexel Burnham Lambert , is n't nearly so sanguine about the market 's chances of surging to new highs anytime soon	Her view is that stock prices have three major props : merger and buy-out proposals , earnings and the economic outlook.At current levels of economic activity and earnings , stocks are fairly valued , she says.But any chance for prices to surge above fair value lies in the speculation that accompanies a vigorous merger and buy-out business , and UAL has obviously put a damper on that . `` Stocks are n't cheap anymore , there have been some judicial and legislative changes in the merger area and all of this changes the arithmetic of deals , '' she says . `` I 'm not saying they 've stopped altogether , but future deals are going to be structured differently and bids probably wo n't be as high
+5	that stock prices have three major props : merger and buy-out proposals , earnings and the economic outlook	At current levels of economic activity and earnings , stocks are fairly valued
+2	Stocks are n't cheap anymore , there have been some judicial and legislative changes in the merger area and all of this changes the arithmetic of deals	I 'm not saying they 've stopped altogether , but future deals are going to be structured differently and bids probably wo n't be as high
+6	M & A is getting all the headlines right now , but these other things have been building up more gradually	Third-quarter earnings have been generally disappointing and with economic data showing a clear slowing , the outlook for earnings in the fourth quarter and all of 1990 is getting worse
+5	With all this , can stock prices hold their own	The question is unanswerable at this point
+3	The question is unanswerable at this point	It depends on what happens
+6	It depends on what happens	If the economy slips into a recession , then this is n't a level that 's going to hold
+7	The Dow Jones Industrial Average fell 17.01 points to 2596.72 in active trading	Volume on the New York Stock Exchange totaled 170,330,000 shares
+7	Volume on the New York Stock Exchange totaled 170,330,000 shares	Declining issues on the Big Board were far ahead of gainers , 1,108 to 416
+7	Declining issues on the Big Board were far ahead of gainers , 1,108 to 416	For the week the Dow Jones Industrial Average sank 92.42 points , or 3.4 %
+5	Oil stocks escaped the brunt of Friday 's selling and several were able to post gains , including Chevron , which rose 5/8 to 66 3/8 in Big Board composite trading of 2.4 million shares	The stock 's advance reflected ongoing speculation that Pennzoil is accumulating a stake in the company , according to Dow Jones Professional Investor Report
+5	USX gained 1/2 to 33 3/8 on a report in Business Week magazine that investor Carl Icahn is said to have raised his stake in the oil and steel company to just about 15 %	Earlier this month , Mr. Icahn boosted his USX stake to 13.4 %
+7	Elsewhere in the oil sector , Exxon rallied 7/8 to 45 3/4 ; Amoco rose 1/8 to 47 ; Texaco was unchanged at 51 3/4 , and Atlantic Richfield fell 1 5/8 to 99 1/2	Mobil dropped 5/8 to 56 1/8
+6	The precious metals sector outgained other Dow Jones industry groups by a wide margin for the second consecutive session	Hecla Mining rose 5/8 to 14
+6	Gold mining stocks traded on the American Stock Exchange also showed strength	Echo Bay Mines rose 5/8 to 15 7/8
+7	Echo Bay Mines rose 5/8 to 15 7/8	Pegasus Gold advanced 1 1/2 to 12 , and Corona Class A gained 1/2 to 7 1/2
+7	Compaq Computer , which had lost 8 5/8 Thursday following a disappointing quarterly report , gained 5/8 to 100 5/8	International Business Machines dropped 7/8 to 99 7/8
+7	Compaq Computer , which had lost 8 5/8 Thursday following a disappointing quarterly report , gained 5/8 to 100 5/8.International Business Machines dropped 7/8 to 99 7/8	Digital Equipment tacked on 1 1/8 to 89 1/8 , and Hewlett-Packard fell 3/8 to 49 3/8
+5	Dividend-related trading swelled volume in Merrill Lynch , which closed unchanged at 28 3/8 as 2.7 million shares changed hands	The stock has a 3.5 % dividend yield and goes ex-dividend today
+5	Erbamont advanced 1 1/8 to 36 1/2 on 1.9 million shares	Montedison , which owns about 72 % of the company 's common stock , agreed to buy the rest for $ 37 a share
+5	Montedison , which owns about 72 % of the company 's common stock , agreed to buy the rest for $ 37 a share	Himont , another majority-owned unit of Montedison , added 1 1/4 to 47 1/8
+5	Milton Roy jumped 2 to 18 3/8	Crane said it holds an 8.9 % stake in the company and may seek control
+9	that a metallurgical flaw in the disk led to a crack that ultimately caused the tail engine to break apart in flight	The explosion sent shards of metal flying , severing the DC-10 's hydraulic or control systems , and led to the crash that killed 112 people
+8	The safety board will begin four days of hearings on the accident tomorrow in Sioux City	Among the issues the board will examine is whether United Airlines , a unit of UAL Corp. , should have been able to detect the cracks through maintenance checks
+5	that recent tests of the failed engine disk indicate that a flaw -- known as `` hard alpha '' -- occurred in the titanium during its production almost 20 years ago	there was n't any way to detect the flaw at that time , and that the process has since been changed to decrease the chance that such flaws would occur
+2	The FAA already has ordered that all 232 disks made by the old process be removed from the planes and subjected to an ultrasonic test in a water-submersion chamber	Such tests make the FAA confident that a Sioux City-type accident `` wo n't happen again
+5	Such tests make the FAA confident that a Sioux City-type accident `` wo n't happen again	that the company has been working with the FAA all along on this issue and `` will comply fully with the required inspections
+2	that the recalls will have no impact on GE 's engine production	The CF6-6 series engines are n't being manufactured any more
+2	To compare temperatures over the past 10,000 years , researchers analyzed the changes in concentrations of two forms of oxygen	These measurements can indicate temperature changes
+5	Analysis of ice from the Dunde ice cap , a glacial plateau in Tibet 17,000 feet above sea level , show that average temperatures were higher in 1937-87 than in any other 50-year period since before the last Ice Age	Some climate models project that interior regions of Asia would be among the first to heat up in a global warming because they are far from oceans , which moderate temperature changes
+5	Instead , the Dunde ice-core record shows increasing temperatures from 1900 through the early 1950s , decreasing temperatures from the late 1950s through the mid-1970s , then higher temperatures again through last year	Other temperature data show similar unexplained swings
+2	The result is that instead of the Pentagon 's proposed split of 60-40 between domestic and foreign bases , the reduced funding is distributed by a ratio of approximately 70-30	The extra margin for bases in the U.S. enhances the power of the appropriations committees
+7	House Appropriations Committee Chairman Jamie Whitten ( D. , Miss . ) helped secure $ 49.7 million for his state , or more than double the Pentagon 's budget	West Virginia , home of Senate Appropriations Committee Chairman Robert Byrd , would receive $ 21.5 million -- four times the military 's request
+7	West Virginia , home of Senate Appropriations Committee Chairman Robert Byrd , would receive $ 21.5 million -- four times the military 's request	Tennessee and North Carolina , home states of the two Democratic chairmen of the House and Senate military construction subcommittees , receive $ 243.2 million , or 25 % above the Pentagon 's request
+7	Tennessee and North Carolina , home states of the two Democratic chairmen of the House and Senate military construction subcommittees , receive $ 243.2 million , or 25 % above the Pentagon 's request	Though spending for Iowa and Oregon was far less , their increases above Pentagon requests -- 640 % and 430 % , respectively -- were much greater because of the influence of Republicans at critical junctures
+6	The swift passage of the bill , which cleared the Senate and House on simple voice votes last week , contrasts with the problems still facing a more cumbersome $ 66.8 billion measure funding housing , environmental , space and veterans programs	By an 84-6 margin , the Senate approved the bulk of the spending Friday , but the bill was then sent back to the House to resolve the question of how to address budget limits on credit allocations for the Federal Housing Administration
+2	but the underlying bill is already under attack for excesses elsewhere	Appropriations committees have used an assortment of devices to disguise as much as $ 1 billion in spending
+8	For example , a House-Senate conference ostensibly increased the National Aeronautics and Space Administration budget for construction of facilities to nearly $ 592 million , or more than $ 200 million above what either chamber had previously approved	Part of the increase would provide $ 90 million toward ensuring construction of a costly solid rocket-motor facility in Mr. Whitten 's Mississippi
+2	The bill 's managers face criticism , too , for the unusual number of conditions openly imposed on where funds will be spent	Conservatives , embarrassed by Republican influence-peddling scandals at the Department of Housing and Urban Development , have used the issue in an effort to shift blame onto a Democratic-controlled Congress
+2	Conservatives , embarrassed by Republican influence-peddling scandals at the Department of Housing and Urban Development , have used the issue in an effort to shift blame onto a Democratic-controlled Congress	HUD Secretary Jack Kemp backed an unsuccessful effort to strike such language last week
+7	Within discretionary funds for community development grants , more than $ 3.7 million is allocated to six projects in Michigan , home state of a subcommittee chairman , Rep. Bob Traxler	House Speaker Thomas Foley won $ 510,000 for a project in his district in Washington state
+1	The powerful Democrat had first wanted to add language relaxing environmental restrictions on two mills on the Hamakua coast that are threatening to close	When this plan met resistance , it was agreed instead to take money from HUD to subsidize needed improvements in two settling ponds for the mills , which employ an estimated 1,500 workers , according to Mr. Inouye 's office
+2	Dennis Farney 's Oct. 13 page-one article `` River of Despair , '' about the poverty along the Mississippi , fanned childhood memories of when my parents were sharecroppers in southeastern Arkansas , only a few miles from the river	Although we were white , the same economic factors affected us as affects the black people Mr. Farney writes about
+1	Although we were white , the same economic factors affected us as affects the black people Mr. Farney writes about	Fortunately , an aunt with a college degree bought a small farm and moved us 50 miles north to good schools and an environment that opened the world of opportunity for me as an eight-year-old
+9	These are the families who used -- and sometime abused -- their sharecroppers , people who had no encouragement and little access to an education or training for a better life	Following World War II , when one family with mechanized equipment could farm crops formerly requiring 20 families , the surplus people were dumped into the mainstream of society with no Social Security , no skills in the workplace , no hope for their future except welfare
+4	Yet the evidence that we have not hit bottom is found in the fact that we are not yet helping ourselves	The people of the Delta are waiting for that big factory to open , river traffic to increase , government spending to fund job-training programs or public schools to educate apathetic students
+1	Because we refuse to face the tough answers , the questions continue as fodder for the commissions and committees , for the media and politicians	Coffee-shop chatter does not lend itself to solving the problems of racism , teen pregnancy or lack of parental support or guidance
+7	Does the Delta deserve government help in attracting industry when the majority of residents , black and white , do not realize racism alienates potential employers	Should we focus on the region 's infant-mortality rate when the vocal right-wingers and the school boards , mayors and legislators prohibit schools from teaching the two ways ( abstinence or contraceptives ) of decreasing teen pregnancy
+8	Should we focus on the region 's infant-mortality rate when the vocal right-wingers and the school boards , mayors and legislators prohibit schools from teaching the two ways ( abstinence or contraceptives ) of decreasing teen pregnancy	Delta problems are difficult , not impossible , to solve -- I am just not convinced that we are ready to solve them yet
+8	I would like to issue a challenge to corporate America	The next time expansion plans are mentioned at the old company and somebody says , `` Aw heck , guys , nobody can do it like Japan or South Korea , '' I wish you would butt in and say , `` Hold it , fellas , why do n't we compare prices and use our own little Third World country
+5	The next time expansion plans are mentioned at the old company and somebody says , `` Aw heck , guys , nobody can do it like Japan or South Korea , '' I wish you would butt in and say , `` Hold it , fellas , why do n't we compare prices and use our own little Third World country	We would even save on freight
+2	Your story is an insult to the citizens of the Mississippi Delta	Many of the problems you presented exist in every part of this country
+6	Many of the problems you presented exist in every part of this country	Poverty is only two blocks from President Bush 's residence
+5	that it was going to reduce employment in production operations of the group by 8 % , or 400 people	The exploration side of the unit has recently undergone a similar overhaul , during which it also lost as many as 400 employees
+0	Mobil alluded to the work-force cuts last week when it took a $ 40 million charge as part of its third-quarter earnings and attributed it to a restructuring	that it is unlikely any additional charges related to this move will be taken in future quarters
+5	During the coming months , layers of management will be peeled away and regional offices will become more autonomous	For greater efficiency , employees at those locations will be reorganized into teams responsible for managing the properties under their jurisdiction
+8	For greater efficiency , employees at those locations will be reorganized into teams responsible for managing the properties under their jurisdiction	The main feature of the new organization is that each local manager will have both the authority and accountability for profitable and technically sound operations
+1	investors willing to look could find double-digit yields at some banks and thrifts	Now , the nationwide average yield on a six-month CD is just under 8 % , and 8.5 % is about the best around
+2	But investors looking for alternatives are n't finding it easy	Yields on most fixed-income securities are lower than several months ago
+6	There are , however , some alternatives that income-oriented investors should consider	Short-term municipal bonds , bond funds and tax-deferred annuities are some of the choices they mention -- and not just as a way to get a higher return
+2	A mix of CDs and other holdings may make the most sense	People should remember their money is n't all or nothing -- they do n't need to be shopping for the one interest-rate-type investment and putting all their money in it
+2	Investors with a heavy tax load should take out their calculators	Yields on municipal bonds can be higher than after-tax yields on CDs for maturities of perhaps one to five years
+5	For an investor paying tax at a 33 % rate , a seemingly puny 6 % yield on a one-year muni is equivalent to a taxable 9 %	Rates approach 6.5 % on five-year municipals
+2	Some of the more cautious CD holders might like `` pre-refunded '' municipals	These securities get top credit ratings
+2	But they will have disappointing returns or even losses if interest rates rise instead	Bond resale prices , and thus fund share prices , move in the opposite direction from rates
+8	Consider , for instance , two bond funds from Vanguard Group of Investment Cos. that were both yielding 8.6 % on a recent day	The Short Term Bond Fund , with an average maturity of 2 1/2 years , would deliver a total return for one year of about 10.6 % if rates drop one percentage point and a one-year return of about 6.6 % if rates rise by the same amount
+8	You get equity-like returns '' from bonds if you guess right on rates	If interest rates do n't change , bond fund investors ' returns will be about equal to the funds ' current yields
+6	These insurance company contracts feature some of the same tax benefits and restrictions as non-deductible individual retirement accounts : Investment gains are compounded without tax consequences until money is withdrawn , but a 10 % penalty tax is imposed on withdrawals made before age 59 1/2	Aimed specifically at CD holders are so-called CD-type annuities , or certificates of annuity
+8	Aimed specifically at CD holders are so-called CD-type annuities , or certificates of annuity	An interest rate is guaranteed for between one and seven years , after which holders get 30 days to choose another guarantee period or to switch to another insurer 's contract without the surrender charges that are common to annuities
+2	to go into money funds when rates are rising and shift out at times such as the present , when rates seem headed down	With average maturities of a month or so , money funds offer fixed share prices and floating returns that track market interest rates , with a slight lag
+2	Try combining a money fund and an intermediate-term bond fund as a low-risk bet on falling rates	If rates unexpectedly rise , the increasing return on the money fund will partly offset the lower-than-expected return from the bond fund
+5	the number of sudden , unexplained deaths of diabetics he had seen this year was 17 compared with just two in 1985	At least six of the deaths occurred among relatively young diabetics who had switched from animal to human insulin within the past year
+1	With proper warning , diabetics can easily raise their blood sugar to safe levels by eating sugar or sugary food	The anecdotal data certainly shows that some of the people were not aware of the rapid onset of hypoglycemia
+6	We do know there are slight differences in the way human and animal insulins drive down blood sugar	The human-based drug starts the blood sugar dropping sooner and drives it down faster
+2	Reports of Dr. Toseland 's findings in the British press have triggered widespread concern among diabetics there	Both the British Diabetic Association and the Committee on Safety in Medicines -- Britain 's equivalent of the U.S. FDA -- recently issued statements noting the lack of hard scientific evidence to support Dr. Toseland 's findings
+5	they had seen reports of hypoglycemic unawareness among some patients making the shift from animal to human insulin , but did n't know if the problem had caused any deaths	the company 's clinical trials of both its animal and human-based insulins indicated no difference in the level of hypoglycemia between users of either product
+5	most of the British diabetics who died had been taking a human-based insulin made by Novo/Nordisk , a Danish manufacturer	None of the diabetics were using Lilly 's insulin
+8	that , `` given an ideal world , we 'd have a nice , neat , orderly process	We 'd do the strategy and then we 'd come around and do the budget
+1	We 'd do the strategy and then we 'd come around and do the budget	This city does n't work that way
+1	This city does n't work that way	With a five-year defense plan costing more than $ 1.6 trillion , it 's about time we put together a defense strategy that works in Washington
+1	This wo n't happen until strategists come down from their ivory tower and learn to work in the real world of limited budgets and uncertain futures	As it is , we identify national goals and the threats to these goals , we shape a strategy to counter these threats , we determine the forces needed to execute the strategy , before finally forging the budgets needed to build and maintain the forces
+8	As it is , we identify national goals and the threats to these goals , we shape a strategy to counter these threats , we determine the forces needed to execute the strategy , before finally forging the budgets needed to build and maintain the forces	These procedures consume millions of man-hours of labor and produce tons of paper , and each year , their end product -- the Five Year Defense Plan -- promptly melts away
+8	The graph on the left shows how this happens	Compare the past eight five-year plans with actual appropriations
+8	Compare the past eight five-year plans with actual appropriations	The Pentagon 's strategists produce budgets that simply can not be executed because they assume a defense strategy depends only on goals and threats
+2	Strategy , however , is about possibilities , not hopes and dreams	By ignoring costs , U.S. strategists abdicate their responsibility for hard decisions
+1	That puts the real strategic decisions in the hands of others : bean counters , budgeteers , and pork-barrelers	These people have different agendas
+8	Reform starts in the Pentagon	Strategists should consider the impact of budget uncertainties at the beginning of the planning process
+8	Strategists should consider the impact of budget uncertainties at the beginning of the planning process	They ought to examine how a range of optimistic to pessimistic budget scenarios would change the defense program
+5	This kind of contingency analysis is common in war planning and business planning	There is no reason that it can not be done for defense planning
+8	Two steps are necessary to translate this idea into action	Step 1 cleans up our books
+2	Step 1 cleans up our books	Our five-year plan contains three accounting devices -- negative money , an above guidance management reserve and optimistic inflation estimates -- which understate the spending the Pentagon has committed itself to by almost $ 100 billion
+2	That plan exceeded the numbers contained in his budget message by $ 45 billion	To make the books balance , as is required by law , somebody invented a new budget line item that simply subtracted $ 45 billion
+0	The 1990 plan also assumes inflation will decline to 1.7 % by 1994	Most forecasters , including those in the Congressional Budget Office , assume inflation will be in excess of 4 % in each of those five years
+5	The graph on the right ( which assumes a 4 % rate of inflation ) , places these scenarios in the context of recent appropriations	Note how the baseline program assumes a sharp increase in future appropriations
+5	Scenario 1 , known as the `` Constant Dollar Freeze , '' reimburses the Pentagon for inflation only -- it slopes upward at 4 % per year	and it reduces the baseline by $ 106 billion between 1990 and 1994
+8	Scenario 3 , the `` Current Dollar Freeze , '' has been the approximate position of the House of Representatives for about four years	It freezes the budget at its current level , and forces the Pentagon to eat the effects of inflation until 1994
+2	It freezes the budget at its current level , and forces the Pentagon to eat the effects of inflation until 1994	This reduces the baseline by $ 229 billion
+2	Scenario 2 extends the recent compromises between the House and the Senate ; it splits the difference between Scenarios 1 and 3 , by increasing the budget at 2 % per year	It reduces the baseline by $ 169 billion
+1	Finally , Scenario 4 reduces the budget by 2 % per year for the next five years -- a total reduction of $ 287 billion	This can be thought of as a pessimistic prediction , perhaps driven by the sequestering effects of the Gramm-Rudman deficit reduction law or possibly a relaxation of tensions with the Soviet Union
+9	The strategic planners in the Joint Chiefs of Staff would construct the most effective defense program for each scenario , maximizing strengths and minimizing weaknesses	They would conclude their efforts by producing a comprehensive net assessment for each plan -- including the assumptions made , an analysis of its deficiencies and limitations , the impact on national security , and the best strategy for working around these limitations
+2	If , for example , they choose to keep the B-2 Stealth bomber , they would have to sacrifice more and more other programs -- such as carrier battlegroups or army divisions -- as they moved toward lower budget levels	These trade-offs would evolve priorities by revealing when the cost of the B-2 became prohibitive
+1	Anyway , ZBB 's procedures were so cumbersome that everyone involved was crushed under a burden of marginalia	A strategic review is fundamentally different
+2	A strategic review is fundamentally different	It would be run by the joint chiefs under simple directions : Produce the best possible force for each budget scenario and provide the Secretary of Defense with a comprehensive net assessment of how that force could be used to achieve U.S. goals
+5	It might be feared that even thinking about lower budgets will hurt national security because the door will be opened to opportunistic budget cutting by an irresponsible Congress	This argument plays well in the atmosphere of gaming and mistrust permeating the Pentagon and Congress , and unfortunately , there is some truth to it
+2	But in the end , it must be rejected for logical as well as moral reasons	To say that the Pentagon should act irresponsibly because acting responsibly will provoke Congress into acting irresponsibly leads to the conclusion that the Pentagon should deliberately exaggerate its needs in the national interest
+2	it is the art of the possible in a world where constraints force us to choose between unpleasant or imperfect alternatives	If we want meaningful priorities , we must understand the trade-offs they imply before we make commitments
+2	While Wall Street 's tough times and lower U.S. interest rates continue to undermine the dollar , weakness in the pound and the yen is expected to offset those factors	By default , '' the dollar probably will be able to hold up pretty well in coming days
+3	By default , '' the dollar probably will be able to hold up pretty well in coming days	We 're close to the bottom '' of the near-term ranges
+7	In late Friday afternoon New York trading , the dollar was at 1.8300 marks and 141.65 yen , off from late Thursday 's 1.8400 marks and 142.10 yen	The pound strengthened to $ 1.5795 from $ 1.5765
+2	With the stock market wobbly and dollar buyers discouraged by signs of U.S. economic weakness and the recent decline in U.S. interest rates that has diminished the attractiveness of dollar-denominated investments , traders say the dollar is still in a precarious position	They 'll be looking at levels to sell the dollar
+2	Predictions for limited dollar losses are based largely on the pound 's weak state after Mr. Lawson 's resignation and the yen 's inability to strengthen substantially when there are dollar retreats	With the pound and the yen lagging behind other major currencies , `` you do n't have a confirmation '' that a sharp dollar downturn is in the works
+2	While the pound has attempted to stabilize , currency analysts say it is in critical condition	Sterling plunged about four cents Thursday and hit the week 's low of $ 1.5765 when Mr. Lawson resigned from his six-year post because of a policy squabble with other cabinet members
+6	While the pound has attempted to stabilize , currency analysts say it is in critical condition	Sterling plunged about four cents Thursday and hit the week 's low of $ 1.5765 when Mr. Lawson resigned from his six-year post because of a policy squabble with other cabinet members
+1	Although the Bank of England 's tight monetary policy has fueled worries that Britain 's slowing economy is headed for a recession , it is widely believed that Mr. Lawson 's willingness to prop up the pound with interest-rate increases helped stem pound selling in recent weeks	If there are any signs that Mr. Major will be less inclined to use interest-rate boosts to rescue the pound from another plunge , that currency is expected to fall sharply
+1	The pound likely will fall in coming days and may trade as low as 2.60 marks within the next year	The pound was at 2.8896 marks late Friday , off sharply from 2.9511 in New York trading a week earlier
+1	But such an increase could be viewed by the market as `` too little too late	The Bank of England indicated its desire to leave its monetary policy unchanged Friday by declining to raise the official 15 % discount-borrowing rate that it charges discount houses
+5	The dollar has a `` natural base of support '' around 140 yen because the Japanese currency has n't been purchased heavily in recent weeks	The yen 's softness apparently stems from Japanese investors ' interest in buying dollars against the yen to purchase U.S. bond issues and persistent worries about this year 's upheaval in the Japanese government
+0	We are deeply disturbed that a recent editorial stated that the `` Americans With Disabilities Act of 1989 '' was `` crafted primarily by Democratic Senators Kennedy and Harkin '' with a premise `` based on the presumption that most Americans are hostile to the disabled	Perhaps even more offensive is the statement , `` It is surprising that George Bush and the White House inner circle would ally themselves with this crabby philosophy
+1	Quite the contrary -- it results from years of work by members of the National Council on the Handicapped , all appointed by President Reagan	You depict the bill as something Democratic leaders `` hoodwinked '' the administration into endorsing
+4	You depict the bill as something Democratic leaders `` hoodwinked '' the administration into endorsing	The opposite is true : It 's the product of many meetings with administration officials , Senate staffers , advocates , and business and transportation officials
+5	The opposite is true : It 's the product of many meetings with administration officials , Senate staffers , advocates , and business and transportation officials	Many congressmen are citing the compromise on the `` Americans With Disabilities Act of 1989 '' as a model for bipartisan deliberations
+2	Most National Council members are themselves disabled or are parents of children with disabilities	We know firsthand the discrimination addressed by the act : to be told there 's no place for your child in school ; to spend lonely hours at home because there is no transportation for someone in a wheelchair ; to be denied employment because you are disabled
+1	Your editorial mockingly entitles this legislation the `` Lawyers ' Employment Act	For the 43 million people with disabilities and their families , this legislation is the `` Emancipation Proclamation
+1	The group currently holds 3,027,330 Rally 's shares , or 45.2 % of its commmon shares outstanding	Giant Group owned 22 % of Rally 's shares before the initial public offering
+5	Companies listed below reported quarterly profit substantially different from the average of analysts ' estimates	The companies are followed by at least three analysts , and had a minimum five-cent change in actual earnings per share
+5	The companies are followed by at least three analysts , and had a minimum five-cent change in actual earnings per share	Estimated and actual results involving losses are omitted
+5	they did n't have a final copy of the filing	he had n't yet seen the filing and could n't comment
+9	DPC made a $ 15-a-share bid for the company in May , but Dataproducts management considered the $ 283.7 million proposal unacceptable	Dataproducts had sought a buyer for several months
+2	Hong Kong financial institutions have been waiting for interest-rate futures for a long time	The contract was first proposed more than two years ago
+9	but shortly afterward , the colony 's markets were hit hard by the October 1987 global stock crash	The subsequent drive to reform Hong Kong 's markets also has embroiled the interest-rate futures contract
+5	the new contract essential to the revival of the Hong Kong Futures Exchange	that without a healthy futures exchange , Hong Kong 's aspirations to be recognized as an international financial center will suffer
+8	The contract will be based on the three-month Hong Kong interbank offered rate , or Hibor	It is almost a carbon copy of the Chicago Mercantile Exchange 's Eurodollar contract , which is based on the three-month Eurodollar rate , the rate paid on U.S.-dollar deposits in London banks
+8	If the contract is as successful as some expect , it may do much to restore confidence in futures trading in Hong Kong	The contract is definitely important to the exchange
+8	Two years ago , the futures exchange was the envy of other would-be futures centers	After only 17 months , its main contract had grown to be the second-largest stock-index-futures contract in the world
+6	Trading in Hang Seng index futures remains crippled by the experience	Volume for the entire month of September totaled only 21,687 contracts , compared with a daily average of 27,000 in the month before the 1987 crash
+8	the futures market has shown itself to be resilient in two recent tests	While Asian markets struggled to cope with the uncertainty caused by the Oct. 13 plunge in New York stock prices , futures trading in Hong Kong was relatively heavy and went smoothly.That was also the case in the days following the June 4 massacre in Beijing , which caused a sharp drop in Hong Kong stock prices
+8	Most important to the contract 's success is the commitment of Hong Kong 's big financial institutions , especially the two leaders , Hongkong & Shanghai Banking Corp. and the local subsidiary of Britain 's Standard Chartered Bank PLC	The two big banks were instrumental in designing the new contract
+1	In early 1988 , when the three-month Eurodollar rate was between 7 % and 8 % , the three-month Hibor rate was as low as 1 %	Just a few months ago , the three-month Eurodollar rate was around 9.5 % , while three-month Hibor hit highs above 11 %
+2	Despite the initial support expected , trading in the contract is likely to start slowly	The wounds from the 1987 crash have n't yet healed , and not all claims against the exchange clearinghouse -- by those who bet the Hang Seng index would fall -- have been settled
+5	The wounds from the 1987 crash have n't yet healed , and not all claims against the exchange clearinghouse have been settled	Companies and financial institutions familiar with Hong Kong remain wary of trading in its futures market
+2	that there may be limits on how much the contract can grow because the Hong Kong dollar is n't a widely traded currency	the contract will be considered a success if it starts trading 500 to 1,000 lots a day
+5	Sales jumped 12.2 % to 232.12 billion yen from 206.87 billion yen	Net income increased 6.7 % to 12.43 billion yen from 11.66 billion yen
+5	Net income increased 6.7 % to 12.43 billion yen from 11.66 billion yen	Per-share net rose to 20.48 yen from 19.51 yen
+5	For the full fiscal year ending next March that total sales of 477.00 billion yen , up from 420.68 billion yen in the previous fiscal year	Pretax profit is seen at 45.00 billion yen , down from 47.17 billion yen , while net income is estimated at 23.500 billion yen , up from 23.031 billion yen
+5	its pretax profit rose 0.3 % to 13.05 billion yen from 13.02 billion yen	Sales rose 8.5 % to 195.19 billion yen from 179.916 billion yen
+5	its pretax profit rose 0.3 % to 13.05 billion yen from 13.02 billion yen.Sales rose 8.5 % to 195.19 billion yen from 179.916 billion yen	Net income surged 10 % to 7.12 billion yen from 6.47 billion yen
+5	its pretax profit rose 0.3 % to 13.05 billion yen from 13.02 billion yen.Sales rose 8.5 % to 195.19 billion yen from 179.916 billion yen.Net income surged 10 % to 7.12 billion yen from 6.47 billion yen	Per-share net rose to 14.95 yen from 14.44 yen
+5	that for the full fiscal year ending next March 31 , sales will total 400.0 billion yen , up from 366.89 billion yen	Pretax profit was estimated at 23.0 billion yen , down from 25.51 billion yen
+9	In 1986 , Unocal sold a 7.5 % stake in the Veslefrikk field to Deutsche Erdolversorgungs G.m.b.H. , a West German oil company , for an undisclosed amount	In 1987 , it sold a 2.5 % stake in the Veslefrikk field to the Swedish national oil company
+2	agreeing to pay $ 15 of its own stock for each share of La Jolla	that gives the transaction a value of $ 104 million
+5	Service Corp. International said it expects to report net income of 15 cents a share for the third quarter	The company said it expects to release third-quarter results in mid-November
+2	Your Sept. 25 criticism of credit-card foreign-exchange charges is unwarranted	and the net exchange rate charged on my Visa account was more favorable than I obtained for traveler 's checks in any of the several banks where I converted them
+1	The main factors for the September increase from the previous month were higher prices for services , food and housing	Prices fell marginally for fuel and electricity
+5	Sales increased 11.9 % to 279.39 billion yen from 249.68 billion yen	Net fell 1 % to 3.23 billion yen from 3.26 billion yen
+5	Sales increased 11.9 % to 279.39 billion yen from 249.68 billion yen.Net fell 1 % to 3.23 billion yen from 3.26 billion yen	Pershare net fell to 4.97 yen from 5.40 yen
+8	Rolled copper product sales were major contributors to overall sales growth	Sales by category rose 24 % to 35.23 billion yen , reflecting increased production in automobile , airconditioner and electric machine industries , which are major users of wire and cable products
+8	That 's the troubling conclusion reached by many international investors and money managers angry at the malfunctions on Continental stock exchanges during last week 's global market turbulence	They say the recent market volatility has underscored the shortcomings of the way many European exchanges trade stocks
+8	but the events of the past week have certainly exposed Europe 's weaknesses	the problems on European exchanges included market-system breakdowns , delayed execution of buy and sell orders and trading suspensions
+9	a frustrated Scottish Amicable fund manager finally tossed down her phone in disgust and called James Capel & Co. , a London brokerage firm	The firm did the trade in seconds on the London stock exchange 's SEAQ automated-quotation system
+8	London had some problems , too	The London exchange 's electronic price-reporting system provided only indicative , or non-firm , prices for about 40 minutes on Manic Monday
+5	The London exchange 's electronic price-reporting system provided only indicative , or non-firm , prices for about 40 minutes on Manic Monday	other traders were n't picking up their phones
+6	But London 's problems were nothing compared with the Continent 's	In Brussels disgusted traders watched helplessly as a software failure before opening on Manic Monday prevented trading for two days
+2	as a software failure before opening on Manic Monday prevented trading for two days	For 48 hours , no one had any idea precisely how much his securities were worth
+5	By Wednesday , frustrated Belgian brokers reopened the market by using the time-honored method of quoting stocks with chalk on a blackboard	The Belgian computer system finally was repaired and restarted on Tuesday of this week
+2	In France , more than half the top 25 blue-chip stocks did n't open until Wall Street rallied late in the European trading day	The rally transformed some big sell orders into big buy orders , solving an order-imbalance problem
+8	Belgium was closed for two days , France closed for a couple of hours , Germany was stuck	It was a nightmare
+2	The switch to the London market during such turbulent times is significant	For one thing , the size of the affected market is enormous
+5	the European stock markets account for some 22.5 % of global stock market capitalization , with an estimated value of $ 2.175 trillion , according to Morgan Stanley Capital International	The Continental markets alone contribute about 14.3 % of estimated world market capitalization of $ 9.671 trillion
+2	that despite the economic restructuring associated with European Community efforts to develop a single market by 1992 , European stock trading remains a highly fragmented and very localized activity	Against this backdrop , one thing that does n't seem likely to result from 1992 is a single European stock market
+6	Meantime , brokers on the Continent are worried , too , mostly by the potential loss of business	I would be much happier if this volume { in German stocks } were in Frankfurt rather than London , '' says Dieter Bauernfeind , head of international equity sales at Dresdner Bank in Frankfurt
+8	Already the Germans appear to be acting	at a special meeting on the day of the decline , directors of the Frankfurt Stock Exchange voted to extend their trading hours
+0	at a special meeting on the day of the decline , directors of the Frankfurt Stock Exchange voted to extend their trading hours , although they have n't decided when or by how much	the market still feels it `` functioned OK during this crash
+5	at a special meeting on the day of the decline , directors of the Frankfurt Stock Exchange voted to extend their trading hours , although they have n't decided when or by how much.A Frankfurt exchange official , acknowledging the brokers ' anxieties , says the market still feels it `` functioned OK during this crash	new equipment to solve the problems ought to be installed within a month
+1	But it 's just one of those things that happened	Investors can be assured now that this kind of problem can never occur again
+2	that the charter will force EC countries to adopt a single pattern in labor relations	Workers and management would lose the `` flexibility and diversity '' that has so far allowed them to adapt to local conditions and traditions
+2	But the cosmetic changes are n't expected to win over Britain	We still have serious differences with the text
+2	the charter would put poorer EC countries such as Spain , Greece and Portugal at a disadvantage	It would force these countries to introduce minimum standards for pay and working hours
+2	Indeed , lower wages are n't enough to offset higher transport costs and lower productivity in the southern countries	Increasing labor costs would only put the countries at a further disadvantage in competing in the barrier-free EC market planned for after 1992
+1	that producing a charter acceptable to both Britain and European industry is n't an unattainable goal	The charter would just have to be restricted to a list of workers ' fundamental rights
+2	One possible political solution would be for the commission to present the action program in late November , before the adoption of the charter at a summit of EC governments on Dec. 8 and 9	This would leave Britain free to adopt the charter after having rebutted the action program
+2	Sam Ramirez and his men are late	They pile out of their truck and furiously begin twisting together steel pipes linking a giant storage tank to the Sharpshooter , a freshly drilled oil well two miles deep
+1	We 've been putting in long hours -- six-day weeks and 13-hour days for the last two months	A year ago you 'd spend two days working and two days in the yard
+5	Independent drillers are gingerly sinking bits into the Earth 's crust again	Some in Big Oil are easing the grip on their wallets
+5	Independent drillers are gingerly sinking bits into the Earth 's crust again.Some in Big Oil are easing the grip on their wallets	Investment capital is creeping back , and oil properties are fetching more
+8	In broadest terms , stability has quietly settled into international oil markets	Mideast politics have calmed down and the squabbling within the Organization of Petroleum Exporting Countries seems under control for now
+2	Mideast politics have calmed down and the squabbling within the Organization of Petroleum Exporting Countries seems under control for now	The fundamentals of supply and demand once again are setting oil prices
+8	The fundamentals of supply and demand once again are setting oil prices	After years of wild swings , oil prices over the last 12 months have settled at around $ 15 to $ 20 a barrel
+5	Not that oil suddenly is a sure thing again	The current equilibrium is fragile and depends on steady , strong demand and continued relative harmony within OPEC
+2	The current equilibrium is fragile and depends on steady , strong demand and continued relative harmony within OPEC , producer of more than 40 % of the non-Communist world 's crude	A recession or new OPEC blowup could put oil markets right back in the soup
+2	Also , the new stirrings are faint , and some question their extent	Drilling activity is still far below eight years ago , there 's no hiring surge and some companies continue to shrink
+8	something has changed	It does n't appear to be getting worse
+2	It does n't appear to be getting worse	That in itself has got to cause people to feel a little more optimistic
+2	Though modest , the change reaches beyond the oil patch , too	The same roller-coaster prices that halted U.S. oil exploration and drove many veteran oil men and companies out of the business also played havoc with the nation 's inflation rate , the trade deficit and oil users ' corporate and personal budgets
+1	The same roller-coaster prices that halted U.S. oil exploration and drove many veteran oil men and companies out of the business also played havoc with the nation 's inflation rate , the trade deficit and oil users ' corporate and personal budgets	Now , at least some predictability has returned , for everyone from economists to motorists
+2	And consumers `` should be comfortable	I do n't see anything on the horizon that could lead to a precipitous rise in the price
+2	The catalyst for all this has been OPEC	About a year ago , it ended an on-again , off-again internal production war that had put prices on a roller coaster and pitched oil towns from Houston to Caracas into recession
+8	About a year ago , it ended an on-again , off-again internal production war that had put prices on a roller coaster and pitched oil towns from Houston to Caracas into recession	Saudi Arabia , OPEC 's kingpin , abandoned a policy of flooding the market to punish quota-cheaters
+5	In addition , global petroleum demand has been climbing	It is projected to keep growing by a million barrels a day , or up to 2 % annually , for years to come
+2	For OPEC , that 's ideal	The resulting firm prices and stability `` will allow both producers and consumers to plan confidently
+2	The resulting firm prices and stability `` will allow both producers and consumers to plan confidently	Consumers offer security of markets , while OPEC provides security of supply
+8	To promote this balance , OPEC now is finally confronting a long-simmering internal problem	At its November meeting , it will try to revise its quotas to satisfy Persian Gulf members that can produce far more oil than their allotments
+2	At its November meeting , it will try to revise its quotas to satisfy Persian Gulf members that can produce far more oil than their allotments	Being held well below capacity greatly irritates them , and has led to widespread cheating
+2	Being held well below capacity greatly irritates them , and has led to widespread cheating	OPEC has repeatedly raised its self-imposed production ceiling to legitimize some of that unauthorized output
+6	That would send prices plummeting from what some gun-shy U.S. oil executives still regard as too low a level	Patrick J . Early , president of Amoco Corp. 's oil-production unit , says that despite recent stability , he plans continued tightening of costs and exploration spending
+6	The view of some others in Big Oil is very much { similar to } Amoco 's outlook	Just this week Mobil Corp. disclosed new cutbacks in its domestic exploration and production operations
+5	A mile and a half away looms the 150-foot-tall rig of the Sniper , due to be pumping by December	Talk is that everybody is going to drill more wells
+8	It is more aggressive than most , but it is n't the only company with a new attitude , as it found when it went looking for a partner for the Sharpshooter	We went to six companies over two days pitching the prospect Five were interested
+2	Mitchell Energy & Development Corp. became the partner , ponying up more than half of the $ 600,000 in drilling and start-up costs	Mitchell will get a half-interest in the oil
+1	A kind of no-mistakes mentality '' had been stifling activity	Now `` everybody is a lot more optimistic
+2	At this price , $ 18 plus or minus , and with costs being significantly less than they were several years ago , the economics are pretty good	If you know you 've got stability in price , you can do things you would n't do with the volatility of the past few years
+6	The activity is enough to move some oil-service prices back up a little	Some drill-bit prices have risen 5 % in the past month
+7	Some drill-bit prices have risen 5 % in the past month	In the Gulf of Mexico , a boat to deliver supplies to offshore rigs now costs around $ 3,000 a day , up nearly 60 % since June
+7	Some drill-bit prices have risen 5 % in the past month.In the Gulf of Mexico , a boat to deliver supplies to offshore rigs now costs around $ 3,000 a day , up nearly 60 % since June	Some service boats recently were auctioned for about $ 1.7 million each , up from less than $ 1 million two years ago
+7	Some drill-bit prices have risen 5 % in the past month.In the Gulf of Mexico , a boat to deliver supplies to offshore rigs now costs around $ 3,000 a day , up nearly 60 % since June.Some service boats recently were auctioned for about $ 1.7 million each , up from less than $ 1 million two years ago	At the bottom of the slump , Schlumberger Inc. was discounting 75 % on an electronic evaluation of a well ; now it discounts about 50 % , drillers say
+2	Still , there is money to be made	Most oil companies , when they set exploration and production budgets for this year , forecast revenue of $ 15 for each barrel of crude produced
+1	Most oil companies , when they set exploration and production budgets for this year , forecast revenue of $ 15 for each barrel of crude produced	Prices have averaged more than $ 2 a barrel higher than that
+8	So , according to a Dun & Bradstreet Corp. survey , companies that had been refusing to spend even their very conservative budgets may loosen up before year end	40 % of those surveyed report that 1989 exploration spending will exceed 1988 's
+6	Funds for drilling may inch up more next year if oil prices stay stable	Texaco may raise spending , especially for low-risk prospects
+5	Texaco may raise spending , especially for low-risk prospects	Outside investors , scarce since '86 , are edging back
+2	Outside investors , scarce since '86 , are edging back	Although `` it 's still difficult to raise money for a pure wildcat program institutions are starting to see there are cycles to these things , and this one is beginning to turn
+6	The appetite for oil-service stocks has been especially strong	Contractors such as Parker Drilling Co. are raising cash again through stock offerings , and for the first time in years , two oil-service companies recently went public
+8	and for the first time in years , two oil-service companies recently went public	They are Grace Energy Corp. of Dallas and Marine Drilling Co. of Houston
+6	But a few new spots are opening	Arthur Andersen , the accounting firm , has increased its energy staff 10 % in a year
+8	Out in the oil fields shortages could appear because so many roughnecks , roustabouts and others left after the crash	Already `` it 's hard to get people
+2	Already `` it 's hard to get people	They 're so busy
+6	For most field workers , it 's about time	Mr. Ramirez just got the first raise he can remember in eight years , to $ 8.50 an hour from $ 8
+5	Mr. Ramirez just got the first raise he can remember in eight years , to $ 8.50 an hour from $ 8	Norman Young , a `` mud-logger '' at the Sniper well , has worked all but about nine days of this year
+1	Norman Young , a `` mud-logger '' at the Sniper well , has worked all but about nine days of this year	Last year , `` I was off a straight month , then one time for two to three weeks and another two to three weeks
+1	First year I came back there was n't any work	it 's on the way back now
+8	But it wo n't be a boom again	No major booms , no major setbacks
+2	that there certainly is n't any drilling boom	Only 14,505 wells , including 4,900 dry holes , were drilled for oil and natural gas in the U.S. in the first nine months of the year , down 22.4 % from the like 1988 period
+6	And the number of rigs active in the U.S. is inching up	According to Baker Hughes Inc. , 992 rotary rigs were at work in the U.S. last week , up from the year-ago count of 933
+1	According to Baker Hughes Inc. , 992 rotary rigs were at work in the U.S. last week , up from the year-ago count of 933	In 1981 , before the bust , the rig count was above 4,000
+8	Some equipment going to work is almost new	Grace Energy just two weeks ago hauled a rig here 500 miles from Caspar , Wyo. , to drill the Bilbrey well
+2	For Zel Herring , owner and a cook at the Sandhills Luncheon Cafe , a tin building in midtown , all this has made for a very good year	After 11:30 a.m. or so `` we have them standing and waiting
+8	Mike Huber , a roustabout , is even making it in his new career as an entrepreneur	He started Arrow Roustabouts Inc. a year ago with a loan from a friend , since repaid , and now employs 15
+2	I want to add one more truck	I sense that it 's going to continue to grow
+5	I sense that it 's going to continue to grow	That 's the word
+8	Accepted theories of asset pricing offer a perfectly legitimate explanation	Accepted theories state that investors require higher returns on riskier investments
+2	Thus , rather than seeing the excess returns to the pro-selected portfolio as being abnormal , I see those returns as simply compensations for taking on added risk	the risk for each individual stock selected by your pros is very large
+8	If you asked me to select a stock with the highest expected return , I would select a stock with the greatest amount of undiversifiable risk , as I am sure your pros do	Your hypothetical investor is simply being compensated for taking on this added risk
+2	Moreover , your hypothetical investor has forsaken the gains to be had in reducing risk by diversifying his portfolio	A four-stock portfolio is still exposed to a great deal of unnecessary risk
+8	This means the returns can vary a great deal	Mr. Dorfman provides confirming evidence of this phenomenon when he reports that your staff of dart throwers would have accumulated only $ 112,383 by randomly selecting four new stocks to be held in a portfolio each month
+2	Your Investment Dartboard article misses the target	The fact that stock pickers have bested a randomly selected portfolio in eight of 12 months has no bearing on the efficient-market theory
+8	For example , your pickers ' recommendations for the coming month are , on average , 22.5 % riskier than holding the market portfolio according to Value Line 's Beta estimates	James Morgan 's pick for October -- Dynascan -- is a substantial 35 % riskier than the market portfolio
+5	James Morgan 's pick for October -- Dynascan -- is a substantial 35 % riskier than the market portfolio	his lauded Thermo Electron pick is 40 % riskier
+1	BEING A TRAVEL agent used to be pretty glamorous	Now it 's getting downright dangerous
+2	the thieves seem to be part of a crime network that knows how to convert blank tickets into real ones	Already , the stolen tickets have been used for flights all over the world
+9	But then they put two loaded pistols to his temple and demanded he open the safe	When he initially refused they stabbed him in the back and made off with $ 2,000 and 280 blank tickets
+2	When he initially refused they stabbed him in the back	they wanted to show me how serious they were
+6	As word of the crime spree has spread , many agents have started changing their open-door policies	At El Monte Travel Center in El Monte , Calif. , customers now can get in only through a buzzer and lock system
+8	The robberies also have set off a controversy involving the airlines	Agents say airlines , which track ticket numbers of all stolen tickets , should be doing more to catch the thieves by confiscating the tickets when they 're used . `` They have the most sophisticated computers in the world , '' says Mr. LLerena . `` They ought to be able to do this . '' But airlines say it would be too expensive and cause too many delays if they started using computerized scanners to check tickets at the gate
+2	airlines should be doing more to catch the thieves by confiscating the tickets when they 're used	They have the most sophisticated computers in the world
+2	They have the most sophisticated computers in the world	They ought to be able to do this
+1	Before the law went into effect last month , car rental companies were charging as much as $ 12 a day for the waiver in Texas	Now , they 're charging as little $ 3 a day
+2	Now , they 're charging as little $ 3 a day	If they 're telling the truth now , then they 've been charging 300 % more than what is reasonable
+5	major airlines sometimes make flight attendants work 16 hours or more straight	Some flight attendants on charter planes are putting in 20-hour work days
+2	For instance , tired flight attendants might not react quickly enough during an emergency evacuation	At the end of their day , they are zombies
+2	At the end of their day , they are zombies	They have to work such long hours
+2	They have to work such long hours and then we expect them to be heroes if there 's an evacuation	it is considering changing its policy on flight attendants
+8	GOLF HAS BECOME the latest diversion for travelers stuck at some airports	Simulated golf games have been installed at airports in Denver and Pittsburgh
+1	The average cost for breakfast at a `` decent '' hotel restaurant in New York is $ 17.12 , according to Corporate Travel magazine	The cheapest , among 100 cities surveyed , was $ 5.11 in El Paso , Texas
+5	Why do you continually ignore the salubrious effects of indexing the basis of capital gains for inflation	Why do you maintain the House-passed capital-gains plan is a `` temporary '' reduction when it is not
+8	Your Sept. 29 page-one story on the House-passed capital-gains plan is a good example	You lead readers to believe that the House reduced the capital-gains tax for two years only
+5	You lead readers to believe that the House reduced the capital-gains tax for two years only	You virtually ignore the tax-reducing power of indexation , which in many cases is more substantial than a lower rate
+2	the capital-gains reduction plan adopted by the House would not be temporary , but permanent	I hope that you begin talking about the plan 's permanent and , in my view , most beneficial feature -- indexation
+8	That the motivation for the two-year reduction to 19.6 % is budgetary does not mean it is not in the public interest	The reduction eases the burden on portfolio changes and frees capital to seek more productive or more appropriate uses
+2	To argue that this is `` not likely '' to affect the economy in positive ways is contrary both to recent experience with capital-gains tax cuts and to common sense	A large part of the long-term appreciation of assets reflects inflation , and the taxation of inflation-created capital gains is confiscation
+2	A large part of the long-term appreciation of assets reflects inflation , and the taxation of inflation-created capital gains is confiscation	Does the Journal really believe that people ignore the prospect of having a substantial part of their capital confiscated when they decide whether to save or how to invest
+2	Under current law , it is not financially rational to forgo consumption	Real , aftertax returns from financial assets are on the order of 1 % or 2 % a year
+2	Real , aftertax returns from financial assets are on the order of 1 % or 2 % a year	The capital-gains tax reform is a step toward correcting one of the gravest structural weaknesses of the U.S. economy , the closely connected phenomena of low savings rates , weak capital formation and high capital costs
+1	Under the initial proposal , for example , banks would have been required to disclose that portion of allowances for loan losses that reflects specific letters of credit for which customers had defaulted	The final rule wo n't require such a breakdown of the allowances for loan losses , which appears on the balance sheet
+8	The FASB rule will cover such financial instruments as interest rate swaps , financial guarantees , foward interest rate contracts , loan contracts , loan commitments and options written on securites held	It will require companies to spell out in more detail collateral polices and concentrations of credit risk for all financial instruments
+9	The bank also said its effort would continue past the Nov. 1 deadline set in that agreement and that the litigation between the two sides might resume as a result	The thrift and the holders had suspended their lawsuits as part of the agreement
+9	they managed to induce bacteria to produce a non-toxic version of the poisons produced by the bacterium that causes whooping cough	Laboratory tests showed that non-toxic versions of the poisons are capable of inducing an immunity to whooping cough
+8	they had succeeded in getting bacteria to produce a non-toxic version of the pertussis toxin , which could be used as a safe vaccine	they have been able to pluck the five genes that produced the toxin out of the pertussis bacterium.It turned out that although it took all five genes to produce the toxin , only one was responsible for the toxin 's virulence . Ordinarily in genetic engineering each of these genes , minus the one that caused the virulence , would have been transferred to another bacterium , called E. coli , which would then produce a nonvirulent version of the toxin they did this , but the toxin did n't induce immunity to whooping cough . The scientists then took the five toxin genes and triggered a mutation in the one gene that caused virulence.Then , using a new technique ( called homologous recombination ) for introducing genes into cells , they transferred all five genes to bacteria closely related to the pertussis organism.These bacterial `` cousins '' ordinarily do n't make the toxin.But the genes were accompanied by a piece of DNA , called a promoter , that turns the genes on . The new bacteria recipients of the genes began producing pertussis toxin which , because of the mutant virulence gene , was no longer toxic
+8	they have been able to pluck the five genes that produced the toxin out of the pertussis bacterium	It turned out that although it took all five genes to produce the toxin , only one was responsible for the toxin 's virulence
+9	The new bacteria recipients of the genes began producing pertussis toxin which , because of the mutant virulence gene , was no longer toxic	Experiments showed that the new , non-virulent toxin is capable of inducing immunity , according to the researchers from the Selavo Research Center in Siena , Italy , the Medical College of Wisconsin in Milwaukee and the Japanese National Institutes of Health
+8	Much of the family 's mystique remained	Although its palatial residence was destroyed by bombs during World War II , the Rothschilds ' place in Frankfurt 's history is still recalled by the city park and a street bearing the Rothschild name
+2	The family 's long absence is understandable	The family was in Allied countries during both World War I and the long period of economic strife of the 1920s
+9	The family was in Allied countries during both World War I and the long period of economic strife of the 1920s	During the Third Reich , the Rothschilds were a target of Nazi propaganda against Jewish financiers
+8	During the Third Reich , the Rothschilds were a target of Nazi propaganda against Jewish financiers	The persecution pursued the Rothschilds across Europe as the Nazis grabbed countries , confiscating the family 's property in the process
+8	Indeed , the competition is n't greatly concerned	It would be surprising if they did n't come to Frankfurt in time for 1992 , and they bring an interesting tradition.But the market really is n't going to be stood on its head , '' said a banker at one of Frankfurt 's Big Three banks
+8	The return of the Rothschilds is modest	The new representative office , with one manager and two assistants -- none a member of the Rothschild family -- will carry out no banking operations of its own
+8	The constraints do n't bother the office 's 54-year-old manager , Erich Stromeyer	He left his job as general manager of Shearson Lehman Hutton Holdings Inc. 's Frankfurt office because When the Rothschilds called , I could n't resist
+1	In March , N M Rothschild in London and Rothschild Bank in Zurich showed assets of # 4.1 billion ( $ 6.51 billion ) and 1.26 billion Swiss francs ( $ 774 million ) , respectively	The Paris bank does n't publish that figure
+6	The Rothschilds hope to use a long history in private banking and an aura of exclusivity to attract private and institutional investors	As at the Zurich bank , the minimum investment for individuals will be high : about a million German marks ( $ 538,000 ) , three times what many other West German investment banks require
+6	and the critics include some of the country 's most successful investors	Warren Buffett has been on record as opposing stock-index futures since their inception in 1982
+8	Essentially , the critics of stock-index futures fall into two camps	One group says the futures contribute to stock market volatility ; the other contends that futures are a sideshow of speculation that detracts from the stock market 's basic function of raising capital
+1	One group says the futures contribute to stock market volatility	the other contends that futures are a sideshow of speculation that detracts from the stock market 's basic function of raising capital
+8	that futures are a sideshow of speculation that detracts from the stock market 's basic function of raising capital	Before futures you actually had to pay attention to whether the thing you were buying had any intrinsic value
+2	traders now routinely check the futures markets in Chicago before they buy or sell stocks	When Chicago futures prices jump up or down , the New York Stock Exchange follows
+2	Paul Lesutis blames futures markets for leading the way	The fundamentals do n't change in an hour
+2	The fundamentals do n't change in an hour	they should close down the futures exchange and then we could get back to investing
+2	Index arbitrage -- the rapid-fire buying and selling of stocks offset with opposite trades in futures -- is frequently blamed for adding to stock market volatility	Although index arbitrage is said to add liquidity to markets , John Bachmann , managing partner of Edward D. Jones , says too much liquidity is n't a good thing
+8	It 's too disruptive	It is n't investing
+8	But stock-index futures have plenty of support	Defenders say futures make markets more efficient and provide ways for investors to reduce risks
+5	Defenders say futures make markets more efficient and provide ways for investors to reduce risks	They note that stocks experienced volatile swings long before futures
+5	that trading baskets of stocks began in the 1970s , a decade before the advent of futures	Futures merely cut down on trading costs
+2	blaming futures is like blaming the messenger	Since stock-index arbitrage merely narrows the gap between prices in the futures and stock markets , it ca n't add to volatility
+8	either you adapt or die	If futures are n't permitted here , we 'll take it to Australia or Tokyo
+2	futures are useful as a way to hedge portfolios	If managers fear that the overall stock market will fall , but want to continue owning stocks , they can hold on to specific stocks and sell a corresponding amount of futures contracts
+2	futures are useful as a way to hedge portfolios	If managers fear that the overall stock market will fall , but want to continue owning stocks , they can hold on to specific stocks and sell a corresponding amount of futures contracts
+6	One reason futures are said to add volatility is that people can speculate in futures with little money down	Margin requirements for speculators on the Chicago Mercantile Exchange are currently about 7 %
+2	Margin requirements for speculators on the Chicago Mercantile Exchange are currently about 7 %	For $ 10 million , you can move $ 100 million of stocks
+2	For $ 10 million , you can move $ 100 million of stocks	That gives futures traders a lot more power
+2	The S & P 500 index futures `` transferred the identity of 500 stocks into one unit-making them a simple commodity to trade	It took away the need to know the bad third-quarter report of IBM , for example
+8	But owning index futures is n't the same as owning the underlying stocks	Stockholders , as a group , can win , because they own a share of corporate earnings , which can grow and boost stock prices
+2	Futures , on the other hand , are a zero sum game -- a market for making side bets about the direction of stock prices	You do n't own anything
+4	You do n't own anything	You 're making a pure bet on the market
+9	the commission voted , as expected , to formally object to the accord between Air France , the state-owned airline , and state-controlled domestic carrier Air Inter	the two companies will be notified so they can begin negotiations with Brussels on how to modify the pact
+5	in which Air France gained access to five domestic French routes under Air Inter 's flight numbers and the domestic airline got to fly to five cities outside of France under the flag of Air France	The two shared results from this route swap , and followed rules on ticket pricing
+7	An Air France spokeswoman said , `` we 're absolutely ready to study all solutions	An Air Inter spokesman said , `` Because they { the EC } have doubts , we will work again on the text and the contents of the accord
+5	The indictment charged that Pymm operated a machine to crush broken thermometers and recover the mercury in an illegal workroom	The charges said that one worker suffered permanent brain damage from mercury exposure
+5	The executives face five to 15 years in prison and fines of $ 5,000 or double the profit made by failing to comply with the rules	The company could be fined a maximum of $ 10,000 , or double the profit
+10	The GM move follows Tuesday 's declaration by Ford , which holds an unwelcome 12.45 % stake in Jaguar , that it is prepared to bid for the entire company	GM is close to completing a friendly deal with Jaguar that is likely to involve an eventual 30 % stake and joint manufacturing ventures
+5	Speculative investors pushed up Jaguar 's share price five pence ( eight U.S. cents ) to a near-record 720 pence ( $ 11.60 ) in late trading on London 's stock exchange yesterday	Since Tuesday , the shares have gained nearly 4 %
+2	But an all-out bidding war between the world 's top auto giants for Britain 's leading luxury-car maker seems unlikely	We will not go over a certain level
+8	We will not go over a certain level	There 's some price at which we 'd stop bidding
+5	Ford is willing to bid for 100 % of Jaguar 's shares if both the government and Jaguar shareholders agree to relax the anti-takeover barrier prematurely	As Jaguar 's biggest holder and Britain 's biggest car maker , Ford could turn up the heat by convening a special shareholders ' meeting and urging holders to drop the limits early
+2	The government probably would n't give in readily to a hostile foray by Ford , however	It has relinquished a golden share only once before -- during British Petroleum Co. 's # 2.5 billion ( $ 4 billion ) takeover of Britoil PLC in 1988
+5	In wooing British lawmakers , GM has pointed out that its willingness to settle for a minority stake would keep Jaguar British-owned and independent	This week , the U.S. auto giant paid for 10 House of Commons members and two House of Lords members to fly to Detroit and tour its operations there
+8	GM Chairman Roger Smith answered the legislators ' questions about it over lunch Tuesday	He said Jaguar `` should n't be smothered by anyone else
+6	Politics also influences the government 's thinking on the anti-takeover restriction	The Conservatives do n't dare jeopardize marginal Tory seats in Coventry
+5	demand for the group 's main product , rolling bearings , remained favorable in Europe	Latin American markets continued their recovery after a weak start to the year
+10	demand for the group 's main product , rolling bearings , remained favorable in Europe	Latin American markets continued their recovery after a weak start to the year
+8	The three business areas engaged in rolling bearing operations continued to show favorable sales development	Sales of rolling bearings increased 19 % to 15.7 billion kronor from 13.2 billion kronor in the corresponding period the previous year
+2	but times have changed , even in Utah	Mr. Redford no longer stands out as an extremist
+2	Mr. Redford no longer stands out as an extremist	He has not changed , but those around him have
+2	He has not changed , but those around him have	Many of his views on the protection of wilderness areas , rivers and canyons are now embraced by mainstream , conservative Utahans
+8	Recently , some 60 environmental and outdoor groups representing such divergent points of view as the Sierra Club , the League of Women Voters and the National Rifle Association joined together to request a reassessment of the environmentally unsound Central Utah Project	While Utah is not yet a haven for environmentalism , public views toward the environment have significantly improved
+2	While Utah is not yet a haven for environmentalism , public views toward the environment have significantly improved	In one of the most conservative , Republican states in the entire nation , the greening of Robert Redford 's neighbors is the real story that Mr. Tomsho missed
+8	It astounds me he can rationalize his self-righteous and greedy actions in Utah	An excellent environmental actor he is
+8	and has the time to do something that not even the federal government will do	Mr. Redford is slowing down a mindless , speeding maniac known as the progress of mankind
+8	Some conservatives say Mr. Bush should n't make the trip	These critics object to Mr. Bush 's participation in a meeting that includes Nicaraguan President Daniel Ortega among the guests
+8	I believe it will do more damage than good because it will legitimize people like Daniel Ortega	Mr. Windsor , among other analysts connected to the conservative Heritage Foundation , fears the gathering of 18 leaders , mostly from Central American nations , will force Mr. Bush `` to explain and redeem himself '' in the wake of charges that the U.S. failed to do enough to aid the removal of Panamanian dictator Manuel Noriega
+8	At the same time , liberal and moderate Democrats note the irony of Mr. Bush 's joining a celebration of Costa Rican democracy at a time his administration has sought sharp cuts in U.S. aid to the tiny country	The administration proposed only $ 57 million in so-called economic support funds for Costa Rica this year , down from the $ 90 million the U.S. provided last year
+6	However , peace efforts by Costa Rican President Oscar Arias have n't always helped the country 's cause in Washington	Mr. Arias 's long-time refusal to support the U.S. 's campaign against leftist Nicaragua earned him the ire of the Reagan White House
+8	Let me say there is a symbolic component to this trip	There wo n't be any formal resolutions or communiques , I do n't think.But we still see this as an opportunity to discuss many , many very important issues
+7	They want late-night shuttles to the biology labs	They want a 24-hour library
+5	Some people may think of nerds as calculator-toting , socially awkward individuals with shirt-pocket liners for their pencils and a preoccupation with computers and matters numerical	Geeks , by at least one definition , are chicken-mutilating circus freaks
+5	The club plans to show nerdy movies , such as `` Real Genius , '' in which physics whizzes pop corn with lasers ; and naturally , the `` Revenge of the Nerds , '' a tale of college males with runny noses and ill-fitting pants	One of its `` more ambitious goals '' is to get Jaime Escalante , the Los Angeles high-school mathematics teacher featured in the film `` Stand and Deliver , '' to come to Harvard for a guest lecture
+2	For instance ? `` I 'm a math major , but I want to know about psychobiology	Hopefully , I 'd find someone in psychobiology who wanted to know more about mathematics
+5	Typical is Ente Nazionale Idrocarburi , Italy 's state-owned energy company , which not long ago acquired through its AGIP oil subsidiary a 5 % share in the consortium accounting for half of Nigeria 's oil output	AGIP already has an oil stake in Libya
+8	Franco Reviglio , ENI chairman , looks for sweeping structural change in the oil industry as a result of environmental issues	He made a special trip to examine U.S. environmental trends because they are often followed in Europe
+2	He made a special trip to examine U.S. environmental trends because they are often followed in Europe	ENI needs to know what 's coming as it prepares to spend some $ 1.3 billion on upgrading its refineries
+6	In the U.S. , the search for oil had been headed toward environmentally sensitive areas believed to have vast reserves	Alaska 's Arctic National Wildlife Refuge alone is thought to hide more than three billion barrels of oil
+2	Similarly , a group of companies led by Chevron Corp. has been unable to pump oil found off the California coast in the early 1980s	A huge production system built in the sea off Santa Barbara and ashore is sitting idle
+2	But the push for cleaner fuels is increasing the attractiveness of natural gas	More than half the domestic drilling now under way is for gas
+6	Activity has revived in the largest U.S. gas-producing regions , such as the Gulf of Mexico	Santa Fe International Corp is stepping up development of a well off Texas ' Matagorda Island where it found gas in 1987
+2	Santa Fe International Corp is stepping up development of a well off Texas ' Matagorda Island where it found gas in 1987	We could have sat on it longer , but the impetus is to get the gas to the marketplace
+2	but the impetus is to get the gas to the marketplace	We 're trying to get it on line as soon as possible now
+8	The proposals go far beyond the current and rather confused policies of perestroika , Mikhail Gorbachev 's restructuring of the economy	They lay out a clear timetable and methodology for liberalizing the system of setting prices , breaking up huge industrial monopolies and putting unprofitable state-owned companies out of business
+8	Instead , they map out a strategy in several phases from now until 1995	Most of the measures would probably only start to have an effect on beleaguered Soviet consumers in two to three years at the earliest
+8	Rigid ideological restrictions on property ownership should be abandoned	breaking up the monolithic system of state-owned enterprises and farms and allowing a big private sector to flourish , helped by tough anti-monopoly legislation
+8	breaking up the monolithic system of state-owned enterprises and farms and allowing a big private sector to flourish , helped by tough anti-monopoly legislation	The economy would be thrown open to numerous types of ownership between now and 1992 , including factories leased by workers or owned by shareholders , cooperatives and joint ventures
+5	The economy would be thrown open to numerous types of ownership between now and 1992 , including factories leased by workers or owned by shareholders , cooperatives and joint ventures	Some forms of private property would be sanctioned
+8	breaking up the monolithic system of state-owned enterprises and farms and allowing a big private sector to flourish , helped by tough anti-monopoly legislation.The economy would be thrown open to numerous types of ownership between now and 1992 , including factories leased by workers or owned by shareholders , cooperatives and joint ventures.Some forms of private property would be sanctioned	Such moves would greatly reduce the power of government ministries , who now jealously guard their turf and are seen as one of the major obstacles blocking economic reform
+6	Emergency measures would be introduced to ease the country 's financial crisis , notably its $ 200 billion budget deficit	By the end of next year , all loss-making state enterprises would be put out of business or handed over to workers who would buy or lease them or turn them into cooperatives
+5	Emergency measures would be introduced to ease the country 's financial crisis , notably its $ 200 billion budget deficit.By the end of next year , all loss-making state enterprises would be put out of business or handed over to workers who would buy or lease them or turn them into cooperatives	Similar steps would be taken to liquidate unprofitable state and collective farms by the end of 1991
+5	Emergency measures would be introduced to ease the country 's financial crisis , notably its $ 200 billion budget deficit.By the end of next year , all loss-making state enterprises would be put out of business or handed over to workers who would buy or lease them or turn them into cooperatives.Similar steps would be taken to liquidate unprofitable state and collective farms by the end of 1991	A unified system of taxation should be introduced rapidly
+5	Emergency measures would be introduced to ease the country 's financial crisis , notably its $ 200 billion budget deficit.By the end of next year , all loss-making state enterprises would be put out of business or handed over to workers who would buy or lease them or turn them into cooperatives.Similar steps would be taken to liquidate unprofitable state and collective farms by the end of 1991.A unified system of taxation should be introduced rapidly	To mop up some of the 300 billion rubles in circulation , the government should encourage home ownership , including issuing bonds that guarantee holders the right to purchase an apartment
+1	A genuine market for labor and wages would replace the present rigid , centralized system	Departing from decades of Soviet dogma , the new system would lead to big differences in pay between workers and almost certainly to unemployment
+2	Departing from decades of Soviet dogma , the new system would lead to big differences in pay between workers and almost certainly to unemployment	To cushion the blows , the government would introduce a minimum wage and unemployment benefits
+2	The entire system of centrally set prices would be overhauled , and free-market prices introduced for most wholesale trade and some retail trade	Consumers would still be able to buy some food and household goods at subsidized prices , but luxury and imported items , including food , would be sold at market prices
+7	Consumers would still be able to buy some food and household goods at subsidized prices , but luxury and imported items , including food , would be sold at market prices	Wholesale prices would be divided into three categories : raw materials sold at fixed prices close to world levels ; government-set procurement prices for a small number of key products ; and free prices for everything else to be determined by contracts between suppliers and purchasers
+7	Consumers would still be able to buy some food and household goods at subsidized prices , but luxury and imported items , including food , would be sold at market prices.Wholesale prices would be divided into three categories : raw materials sold at fixed prices close to world levels ; government-set procurement prices for a small number of key products ; and free prices for everything else to be determined by contracts between suppliers and purchasers	Inflation-adjusted social benefits would ensure that the poor and elderly do n't suffer unduly
+8	The current liberalization and decentralization of foreign trade would be taken much further	Soviet companies would face fewer obstacles for exports and could even invest their hard currency abroad
+7	Soviet companies would face fewer obstacles for exports and could even invest their hard currency abroad	Foreigners would receive greater incentives to invest in the U.S.S.R
+7	Soviet companies would face fewer obstacles for exports and could even invest their hard currency abroad.Foreigners would receive greater incentives to invest in the U.S.S.R	Alongside the current non-convertible ruble , a second currency would be introduced that could be freely exchanged for dollars and other Western currencies
+7	Soviet companies would face fewer obstacles for exports and could even invest their hard currency abroad.Foreigners would receive greater incentives to invest in the U.S.S.R. Alongside the current non-convertible ruble , a second currency would be introduced that could be freely exchanged for dollars and other Western currencies	A domestic foreign exchange market would be set up as part of an overhaul of the nation 's banking system
+0	I always lift the hood When my car does n't start ; If gadgets at home do n't work I coolly take them apart	there 's nothing wrong That I ever do find
+8	Albert Engelken and Robert Thomson had never met , though for 38 years their lives had been intertwined in a way peculiar to the sports world	Mr. Engelken and Mr. Thomson had n't even talked to each other
+8	He often groans at the `` clutter '' of sports stories about drugs , alcohol , gambling and some player 's lament `` about the miserly millions he is offered to play the game	His morning paper , the Washington Post , even carries a sports column called `` Jurisprudence '' that recounts the latest arrests and convictions of players and team managers
+2	He often groans , he says , at the `` clutter '' of sports stories about drugs , alcohol , gambling and some player 's lament `` about the miserly millions he is offered to play the game . '' His morning paper , the Washington Post , even carries a sports column called `` Jurisprudence '' that recounts the latest arrests and convictions of players and team managers	Like many sports buffs , Mr. Engelken has turned cynic
+9	The Giants struck first , winning the opener , 3-1 , on a two-run homer off Dodger right-hander Ralph Branca	The Giants got swamped in the second game , 100 , and trailed 4-1 going into the bottom of the ninth of the third and deciding game
+9	The Giants got swamped in the second game , 100 , and trailed 4-1 going into the bottom of the ninth of the third and deciding game	The Giants scored once and had runners on second { Whitey Lockman } and third { Clint Hartung } as Bobby Thomson advanced to the plate
+8	The rest , as they say , is history	Mr. Thomson , a tall , Scottish-born , right-hand hitter , stepped into the batter 's box
+9	Mr. Thomson , a tall , Scottish-born , right-hand hitter , stepped into the batter 's box	Thomson took a called strike
+2	Thomson took a called strike	The tension mounted as Ralph Branca , again on the mound , stared down the batter
+9	The tension mounted as Ralph Branca , again on the mound , stared down the batter	He wound up and let loose a fastball
+2	and then , with a crack of the bat , was sent rocketing back into the lower leftfield stands	Giants fans went into euphoria
+8	Mr. Engelken and Mr. Thomson drifted in different directions in the subsequent years	Mr. Thomson played outfield and third base until 1960 , posting a lifetime .270 batting average and chalking up 264 home runs before retiring and going into paper-goods sales . Mr. Engelken moved south to Washington
+6	Mr. Engelken moved south to Washington , but he took with him enduring memories of the homer of 1951	When his wife , Betsy , came down the aisle on their wedding day in 1966 , Mr. Engelken -- no slouch on the romantic front -- gave her the ultimate compliment : `` You look prettier than Bobby Thomson 's home run
+5	When his wife , Betsy , came down the aisle on their wedding day in 1966 , Mr. Engelken -- no slouch on the romantic front -- gave her the ultimate compliment : `` You look prettier than Bobby Thomson 's home run	The couple 's first dog , Homer , was named after the Great Event
+9	Mr. Engelken wrote his sports hero to tell him of the coincidence of events	Mr. Thomson sent off a card to Martha
+9	Betsy Engelken asked the same question earlier this year , when her husband was about to turn 50	She had an idea
+8	Mrs. Engelken had scheduled a stop on the New Jersey Turnpike to , she told her husband , pick up some papers for a neighbor	The papers would be handed over at a bank of telephone booths just off Exit 10
+9	In a matter of minutes , she was back , with a tall , silver-haired man in tow	She crouched down by the car window and addressed her husband with her favorite nickname
+8	And there he was	The hero of my youth , the one person in history I 'd most like to meet
+2	And there he was The hero of my youth , the one person in history I 'd most like to meet	Keep your Thomas Jeffersons , or St. Augustines or Michelangelos
+2	Keep your Thomas Jeffersons , or St. Augustines or Michelangelos	I 'd take baseball 's Flying Scot without hesitation
+6	They talked of the home run	I thought it was in the upper deck , '' said Bobby Thomson , now 66 years old
+6	They talked of the aftermath	I never thought it would become so momentous , '' Bobby remarked
+5	The two men spent an hour at Exit 10 , rehashing the event , `` fulfilling the lifelong dream of a young boy now turned 50	His hero signed photographs of the homer and diplomatically called Ralph Branca `` a very fine pitcher
+8	But his fans , to his constant amazement , never let him forget the famous four-bagger	His mail regularly recalls `` my one event , '' and has been growing in recent years
+2	On the way home it took concentrated effort to keep that car pointed south	My mind was miles north at a place called Coogan 's Bluff , where a real sports hero had captured the imagination of a kid who never fully grew up and is all the richer for it
+2	Take heart , sports fans	Real heroes exist
+1	Real heroes exist	You might not find one in the ` Jurisprudence ' column
+5	Southam agreed to sell its 47 % stake in Selkirk Communications Ltd. , a broadcasting concern , to Maclean Hunter Ltd. for about C $ 285 million last year	This year , it has moved to cut costs in its newspaper division through layoffs and asset sales , while reaching joint venture and acquisition agreements in other areas
+1	The company had a tax credit of $ 1.4 million	In the year-earlier quarter , the tax credit was $ 3.3 million
+5	The company had a tax credit of $ 1.4 million.In the year-earlier quarter , the tax credit was $ 3.3 million	Sales rose 8 % to $ 368.5 million from $ 340.7 million
+10	The company had a tax credit of $ 1.4 million.In the year-earlier quarter , the tax credit was $ 3.3 million	Sales rose 8 % to $ 368.5 million from $ 340.7 million
+1	For the nine months , Norton had net of $ 81.2 million , or $ 3.87 a share , and a tax credit of $ 4.4 million	In the year-earlier period , the company had net of $ 77.2 million , or $ 3.68 a share , and a tax credit of $ 7.7 million
+8	but found that the closer they got to saving the $ 40,000 they originally needed , the more the price rose	By this month , it had more than doubled
+8	I am determined to get an apartment in three years	It 's all I think about or talk about
+5	For the Parks and millions of other young Koreans , the long-cherished dream of home ownership has become a cruel illusion	For the government , it has become a highly volatile political issue
+10	For the Parks and millions of other young Koreans , the long-cherished dream of home ownership has become a cruel illusion	For the government , it has become a highly volatile political issue
+5	Rents have soared along with house prices	the problem is intolerable for many people
+2	the problem is intolerable for many people	I 'm afraid of a popular revolt if this situation is n't corrected
+8	Last week , the government took three bills to the National Assembly	The proposed legislation is aimed at rectifying some of the inequities in the current land-ownership system
+8	The proposed legislation is aimed at rectifying some of the inequities in the current land-ownership system	Highlights of the bills , as currently framed , are : -- A restriction on the amount of real estate one family can own , to 660 square meters in the nation 's six largest cities , but more in smaller cities and rural areas.The government will penalize offenders , but wo n't confiscate property . -- A tax of between 3 % and 6 % on property holdings that exceed the governmentset ceiling . -- Taxes of between 15 % and 50 % a year on `` excessive '' profits from the resale of property , or the sale of idle land to the government.The government defines excessive profits as those above the average realized for other similar-sized properties in an area . -- Grace periods ranging from two to five years before the full scope of the penalties takes effect
+2	But opposition legislators and others calling for help for South Korea 's renters say the proposed changes do n't go far enough to make it possible for ordinary people to buy a home	Some want lower limits on house sizes
+5	Some want lower limits on house sizes	others insist on progressively higher taxation for larger homes and lots
+2	But others , large landowners , real-estate developers and business leaders , say the government 's proposals are intolerable	the critics are lobbying for the government to weaken its proposed restrictions and penalties
+6	Government officials who are urging real-estate reforms balk at the arguments of business leaders and chafe at their pressure	There is no violation of the capitalistic principle of private property in what we are doing , '' says Lee Kyu Hwang , director of the government 's Land Bureau , which drafted the bills
+8	that about 10,000 property speculators are operating in South Korea	The chief culprits are big companies and business groups that buy huge amounts of land `` not for their corporate use , but for resale at huge profit
+5	that as much as 67 % of corporate-owned land is held by 403 companies -- and that as little as 1.5 % of that is used for business	that in the first half of 1989 , the nation 's 30 largest business groups bought real estate valued at $ 1.5 billion
+5	Under those measures , financial institutions would be restricted from owning any more real estate than they need for their business operations	Banks , investment and credit firms would be permitted to own land equivalent in value to 50 % of their capital -- currently the proportion is 75 %
+5	Banks , investment and credit firms would be permitted to own land equivalent in value to 50 % of their capital -- currently the proportion is 75 %	The maximum allowable property holdings for insurance companies would be reduced to 10 % of their total asset value , down from 15 % currently
+1	that even if the policies work to slow or stop speculation , apartment prices are unlikely to go down	At best they will rise more slowly
+2	The ordinance , in Moon Township , prohibits locating a group home for the handicapped within a mile of another such facility	In papers filed with the federal district court in Pittsburgh , the Justice Department alleged that the ordinance makes housing unavailable on account of handicap
+2	The most ruthless dictatorships have not censored their press more brutally than the drug mafias censor Colombia 's	The censorship is enforced through terrorism and assassination
+6	The censorship is enforced through terrorism and assassination	In the past 10 years about 50 journalists have been silenced forever , murdered
+7	Within the past two months a bomb exploded in the offices of the El Espectador in Bogota , destroying a major part of its installations and equipment.And only last week the newspaper Vanguardia Liberal in the city of Bucaramanga was bombed , and its installations destroyed	Journalists and their families are constantly threatened as are the newspaper distribution outlets
+7	Within the past two months a bomb exploded in the offices of the El Espectador in Bogota , destroying a major part of its installations and equipment.And only last week the newspaper Vanguardia Liberal in the city of Bucaramanga was bombed , and its installations destroyed.Journalists and their families are constantly threatened as are the newspaper distribution outlets	Distribution centers are bombed , and advertisers are intimidated
+8	Distribution centers are bombed , and advertisers are intimidated	Censorship is imposed by terrorism
+2	If the Colombian media accept this new and hideous censorship there is little doubt that the drug mafia 's terrorism someday will extend to all the newspapers published in the free world	The solidarity of the uncensored media world-wide against drug terrorism is the only way press freedom can survive
+5	The American people and their government also woke up too late to the menace drugs posed to the moral structure of their country	Even now , the American attack upon this tremendous problem is timid in relation to the magnitude of the threat
+6	Even now , the American attack upon this tremendous problem is timid in relation to the magnitude of the threat	I can attest that a recent Colombian visitor to the U.S. was offered drugs three times in the few blocks ' walk between Grand Central Terminal and the Waldorf Astoria Hotel in midtown Manhattan
+2	Colombia alone -- its government , its people , its newspapers -- does not have the capacity to fight this battle successfully	All drug-consuming countries must jointly decide to combat and punish the consumers and distributors of drugs
+5	All drug-consuming countries must jointly decide to combat and punish the consumers and distributors of drugs	The U.S. , as the major drug consumer , should lead this joint effort
+6	Much is being done in Colombia to fight the drug cartel mafia	Luxurious homes and ranches have been raided by the military authorities , and sophisticated and powerful communications equipment have been seized
+7	Luxurious homes and ranches have been raided by the military authorities , and sophisticated and powerful communications equipment have been seized	More than 300 planes and helicopters have been impounded at airports , and a large number of vehicles and launches has been confiscated
+8	Luxurious homes and ranches have been raided by the military authorities , and sophisticated and powerful communications equipment have been seized.More than 300 planes and helicopters have been impounded at airports , and a large number of vehicles and launches has been confiscated.The military has also captured enormous arsenals of powerful and sophisticated weapons , explosives and other war-like materiel	Much has been accomplished
+1	There has been a lot of talk that a large portion of the Colombian economy is sustained by the laundering of drug money	In my opinion , this is not true
+4	In my opinion , this is not true	Laundered drug money has served only to increase , unrealistically , the price of real estate , creating serious problems for low-income people who aspire to own their own homes
+6	What is of much more importance to the Colombian economy than the supposed benefits of laundered drug money is higher prices for Colombia 's legitimate products	The price of coffee has gone down almost 45 % since the beginning of the year , to the lowest level ( after inflation ) since the Great Depression
+5	The price of coffee has gone down almost 45 % since the beginning of the year , to the lowest level ( after inflation ) since the Great Depression	Market conditions point to even lower prices next year
+2	Market conditions point to even lower prices next year	The 27-year-old coffee cartel had to be formally dissolved this summer
+8	As a result , Colombia will earn $ 500 million less from its coffee this year than last	Our coffee growers face reductions in their income
+2	to make a plea to the millions of readers of this newspaper , to become soldiers dedicated to the fight against the use of drugs	Each gram of cocaine consumed is a deadly bullet against those in our country and in the rest of the world who fight this terrible scourge
+2	Each gram of cocaine consumed is a deadly bullet against those in our country and in the rest of the world who fight this terrible scourge	A crusade of NO to the consumption of drugs is imperative
+7	It has more drug users than Boston has people	Thirty-four thousand of its children live in foster homes , while 50,000 residents have no homes at all
+7	It has more drug users than Boston has people.Thirty-four thousand of its children live in foster homes , while 50,000 residents have no homes at all	Its tax base is shrinking
+2	voters still have very little idea what they can expect from him	After 25 years in city politics , David Dinkins remains an enigma
+5	The soft-spoken , silver-haired Manhattan borough president -- the first black man to win the Democratic nomination for mayor here -- does n't have a single prominent political enemy	While he is widely described as a man with deep convictions , he has few major political programs that he can call his own
+2	While he is widely described as a man with deep convictions , he has few major political programs that he can call his own	Asked about his greatest achievement in public life , he first speaks about the quality of his staff
+8	While he is widely described as a man with deep convictions , he has few major political programs that he can call his own	Asked about his greatest achievement in public life , he first speaks about the quality of his staff
+6	Now , as election day nears , even some supporters wonder what he will do if he wins the mayoralty on Nov. 7	They wonder whether he can be firm with his longtime allies
+7	They wonder whether he can be firm with his longtime allies	They wonder whether he has the economic know-how to steer the city through a possible fiscal crisis
+8	and they wonder who will be advising him	Will he , if he wins , be in the thrall of the most liberal of his allies , who advocate such policies as rent control for commercial buildings , or will he tilt toward the real-estate interests that have funneled money into his campaign
+6	In an interview with reporters and editors of The Wall Street Journal , Mr. Dinkins appears quite confident of victory and of his ability to handle the mayoralty	A lot of people think I will give away the store , but I can assure you I will not , '' he says
+2	but I can assure you I will not	I am aware we have real budgetary problems
+5	The city is full of aging bridges , water mains and roadways that are in need of billions of dollars worth of repair	Renewed efforts to fight drugs and crime will be costly
+8	but that wo n't be enough	New York State Comptroller Edward Regan predicts a $ 1.3 billion budget gap for the city 's next fiscal year
+2	New York State Comptroller Edward Regan predicts a $ 1.3 billion budget gap for the city 's next fiscal year , a gap that could grow if there is a recession	If elected , Mr. Dinkins will probably have no choice but to raise taxes on overburdened businesses or cut spending in already under-serviced neighborhoods
+2	He is going to face a mess	His supporters are not venal , but their solution to everything will be to spend more money , and he wo n't have any money
+8	By and large , Mr. Dinkins has finessed the touchy question of whose ox he would gore	Instead of focusing on the financial future , Mr. Dinkins has sold himself as a unifier for a city recently touched by racial violence and as a soothing antidote to 12 years of commotion generated by Mayor Koch
+2	Instead of focusing on the financial future , Mr. Dinkins has sold himself as a unifier for a city recently touched by racial violence and as a soothing antidote to 12 years of commotion generated by Mayor Koch	The thing about the Dinkins candidacy is that it offers hope to a broad range of people
+8	The thing about the Dinkins candidacy is that it offers hope to a broad range of people	It is a feel-good candidacy
+2	No doubt , Mr. Dinkins has been a calming influence	He is an avuncular figure who remembers the birthdays of colleagues ' children , opens doors for women , and almost never has a bad word to say about anybody
+5	More important , he emerged as a peacemaker last summer after the Central Park rape of a white jogger and the racial murder of a black teen-ager in the white Brooklyn neighborhood of Bensonhurst	Rather than scaring off white voters , as many predicted he would , Mr. Dinkins attracted many whites precisely because of his reputation for having a cool head
+2	But even in his front-runner campaign , he has shown signs of the indecisiveness and confusion that some say has plagued his tenure as Manhattan borough president -- and might hinder him as mayor	Over the last few weeks , he has frittered away roughly half of what was once a 33-point lead in the polls over Mr. Giuliani
+6	Over the last few weeks , he has frittered away roughly half of what was once a 33-point lead in the polls over Mr. Giuliani	A story about how he mishandled the sale to his son of his stock in a media company controlled by his political patron Percy Sutton was allowed to fester a full week before Mr. Dinkins faced the media
+5	A story about how he mishandled the sale to his son of his stock in a media company controlled by his political patron Percy Sutton was allowed to fester a full week before Mr. Dinkins faced the media	He has canceled numerous campaign appointments and was largely inaccessible to the media until the stock story broke
+8	The debt rose further in 1977 when Mr. Sutton resigned his position as Manhattan borough president to run for mayor	Mr. Sutton recalls : `` When I left , I sat down with Charlie { Rangel } , Basil { Paterson } and David , and David said , 'Who will run for borough president
+6	and was best known among city politicians for his problems making up his mind on matters before the city 's Board of Estimate	Colleagues today recall with some humor how meetings would crawl into the early morning hours as Mr. Dinkins would march his staff out of board meetings and into his private office to discuss , en masse , certain controversial proposals
+6	Often , Mr. Dinkins 's procrastination prevented him from having a say in the way things turned out	On the campaign stump , he often points out that he was the only Board of Estimate member to vote against a controversial real-estate project at Manhattan 's Columbus Circle.But board members say he took so long to decide how to vote that by the time he decided , it was too late to try to draw other members to his position
+8	he took so long to decide how to vote that by the time he decided , it was too late to try to draw other members to his position	Everybody else had brought in the wagons and made their deal.He would have got a lot more done if he made up his mind faster
+2	Everybody else had brought in the wagons and made their deal	He would have got a lot more done if he made up his mind faster
+2	One Board member , Bronx Borough President Ferdinand Ferrer , was said to be so impatient with Mr. Dinkins 's behavior at many meetings that he withheld his support for Mr. Dinkins 's mayoral effort until late in the primary campaign	I had some problem from time to time on the length of time he would take to make up his mind
+4	that the Manhattan borough president has taken too long to decide important issues	We did n't rubber-stamp everything that came to us
+8	On some occasions when Mr. Dinkins has discussed the issues during the campaign , he has run into a familiar kind of trouble	Some supporters were stunned this summer when Mr. Dinkins suggested weakening the law forbidding public employees to go on strike
+9	Some supporters were stunned this summer when Mr. Dinkins suggested weakening the law forbidding public employees to go on strike	He withdrew the remark
+9	He withdrew the remark	When he later sided with striking hospital workers , some allies cringed a little more , concerned that Mr. Dinkins was setting the wrong tone for coming contract negotiations with city employees
+6	Mr. Dinkins 's position papers have more consistently reflected anti-development sentiment	He favors a form of commercial rent control , which the financial community believes would make it more difficult to attract investment in the city
+5	He favors a form of commercial rent control , which the financial community believes would make it more difficult to attract investment in the city	In the midst of a labor shortage , he proposes linking city subsidies to businesses to their record of hiring New York City residents
+1	In the midst of a labor shortage , he proposes linking city subsidies to businesses to their record of hiring New York City residents	With an untrained local labor pool that policy could drive businesses from the city
+1	And he favors a more cooperative approach toward the neighboring states of New Jersey and Connecticut in the battle over companies thinking of moving employees out of New York City	the Koch administration 's aggressive approach helped save 5,000 Chase Manhattan Bank jobs from moving across the Hudson
+6	But Mr. Dinkins 's economic planks do n't seem to bother the business community	Steven Spinola , president of the Real Estate Board of New York , an industry organization , says Mr. Dinkins 's `` economic development program is shortsighted , but when it comes down to it , he can be reasonable
+1	We know there are potholes for the city out there	If any of us think we 're going to sidetrack David 's determination to be the best possible mayor because of his obligations to us , we are making a sad mistake
+5	If any of us think we 're going to sidetrack David 's determination to be the best possible mayor because of his obligations to us , we are making a sad mistake	You have to remember David is a pragmatist
+6	But Mr. Dinkins 's sense of pragmatism often comes across more as an insider 's determination not to upset the political apple cart	He is taken aback in an interview when asked whether , as mayor , he plans on reforming the political `` fiefdoms '' that perpetuate the monumental ineffectiveness of New York 's school system
+8	He is taken aback in an interview when asked whether , as mayor , he plans on reforming the political `` fiefdoms '' that perpetuate the monumental ineffectiveness of New York 's school system	I will sit down and talk some of the problems out , but take on the political system ? Uh-uh , '' he says with a shake of the head
+2	Despite many doubts about his candidacy , white New Yorkers are n't expected to desert in sufficient numbers to turn the election to Mr. Giuliani	The former U.S. attorney , who prosecuted targets ranging from Mafia dons to Wall Street executives , has succeeded in raising questions about Mr. Dinkins 's ethical standards , but so far has failed to generate excitement about his own candidacy
+5	As a Republican in an overwhelmingly Democratic city , Mr. Giuliani has an inherent handicap	As a first-time candidate , he has been slow to learn the nuances of New York City politicking
+7	A deep trench now runs along its north wall , exposed when the house lurched two feet off its foundation during last week 's earthquake	A side porch was ripped away
+7	A deep trench now runs along its north wall , exposed when the house lurched two feet off its foundation during last week 's earthquake.A side porch was ripped away	The chimney is a pile of bricks on the front lawn
+7	A deep trench now runs along its north wall , exposed when the house lurched two feet off its foundation during last week 's earthquake.A side porch was ripped away.The chimney is a pile of bricks on the front lawn	The remainder of the house leans precariously against a sturdy oak tree
+5	they parcel out money so their clients can find temporary living quarters , buy food , replace lost clothing , repair broken water heaters , and replaster walls	Some of the funds will used to demolish unstable buildings and clear sites for future construction
+2	They do n't flinch at writing them	That 's my job -- get { policyholders } what they 're entitled to
+9	But she asks a workman toting the bricks from the lawn to give her a boost through an open first-floor window	Once inside , she spends nearly four hours measuring and diagramming each room in the 80-year-old house
+6	Once inside , she spends nearly four hours measuring and diagramming each room in the 80-year-old house , gathering enough information to estimate what it would cost to rebuild it	She snaps photos of the buckled floors and the plaster that has fallen away from the walls
+10	One of the friends sweeps broken dishes and shattered glass from a countertop and starts to pack what can be salvaged from the kitchen	Others grab books , records , photo albums , sofas and chairs , working frantically in the fear that an aftershock will jolt the house again
+2	The owners , William and Margie Hammack , are luckier than many others	A few years ago , Mrs. Hammack insisted on buying earthquake insurance for this house
+0	A few years ago , Mrs. Hammack insisted on buying earthquake insurance for this house , which had been converted into apartments	Only about 20 % of California home and business owners carried earthquake coverage
+8	Ms. Johnson is awed by the earthquake 's destructive force	It really brings you down to a human level , '' she says
+2	but you have to	If you do n't , you ca n't do your job
+2	For Aetna and other insurers , the San Francisco earthquake hit when resources in the field already were stretched	Most companies still are trying to sort through the wreckage caused by Hurricane Hugo in the Carolinas last month
+1	Adjusters who had been working on the East Coast say the insurer will still be processing claims from that storm through December	It could take six to nine months to handle the earthquake-related claims
+2	The secret to being a good adjuster is counting	You have to count everything
+9	To do that , they must think in terms of sheetrock by the square foot , carpeting by the square yard , wallpaper by the roll , molding by the linear foot	Using a calculator and a unit-price guide for such jobs as painting , plumbing and roofing in each major region of the country , adjusters can figure out the value of a home in today 's market and what it would cost to rebuild it
+6	Sometimes repairs are out of the question	When Aetna adjuster Bill Schaeffer visited a retired couple in Oakland last Thursday , he found them living in a mobile home parked in front of their yard . The house itself , located about 50 yards from the collapsed section of double-decker highway Interstate 880 , was pushed about four feet off its foundation and then collapsed into its basement
+10	But such skills were alien to Toni Johnson	Four years ago , she was managing a film-processing shop and was totally bored
+9	Four years ago , she was managing a film-processing shop and was totally bored	A friend mentioned that she might want to look into a position at Aetna , if she was interested in a job that would constantly challenge her
+2	A friend mentioned that she might want to look into a position at Aetna , if she was interested in a job that would constantly challenge her	She signed up
+9	She signed up , starting as an `` inside '' adjuster , who settles minor claims and does a lot of work by phone	A year later , she moved to the commercial property claims division
+6	Her new line of work has some perils	Recently , a contractor saved her from falling three stories as she investigated what remained of an old Victorian house torched by an arsonist
+2	Recently , a contractor saved her from falling three stories as she investigated what remained of an old Victorian house torched by an arsonist	I owe that contractor
+8	I owe that contractor	I really do
+5	the house begins to creak and sway	The ground shakes underneath her
+8	The ground shakes underneath her	It is an aftershock
+6	During her second meeting with the Hammacks , Ms. Johnson reviews exactly what their policy covers	They would like to retrieve some appliances on the second floor , but wonder if it 's safe to venture inside.Ms . Johnson tells them that , if the appliances ca n't be salvaged , their policy covers the replacement cost
+1	They would like to retrieve some appliances on the second floor , but wonder if it 's safe to venture inside	that , if the appliances ca n't be salvaged , their policy covers the replacement cost
+5	Ms. Johnson tells them that , if the appliances ca n't be salvaged , their policy covers the replacement cost	Mr. Hammack is eager to know what Aetna will pay for the house , which has to come down
+2	Mr. Hammack is eager to know what Aetna will pay for the house , which has to come down	When will I get that check for a million dollars ? '' he jokes
+9	In this case , that 's about $ 250,000	It suddenly dawns on Mr. Hammack that rebuilding the house in Los Gatos may cost more than Aetna 's policy will pay
+8	that rebuilding the house in Los Gatos may cost more than Aetna 's policy will pay	We can lose money on this
+5	So , many Californians believe they can get by without it	Even Ms. Johnson herself made that assumption
+8	Even Ms. Johnson herself made that assumption	I always knew that the 'Big One ' was coming , but not during my lifetime
+1	I always knew that the 'Big One ' was coming , but not during my lifetime	Now she 's thinking of contacting her own insurance agent
+2	For Ms. Johnson , dealing with the earthquake has been more than just a work experience	She lives in Oakland , a community hit hard by the earthquake
+5	She lives in Oakland , a community hit hard by the earthquake	She did n't have hot water for five days
+5	She lives in Oakland , a community hit hard by the earthquake.She did n't have hot water for five days	The apartment she shares with a 12-year-old daughter and her sister was rattled , books and crystal hit the floor
+0	but nothing was severely damaged	Her sister , Cynthia , wishes Toni had a different job
+2	Her sister , Cynthia , wishes Toni had a different job	We worry about her out there
+2	Last Sunday , Ms. Johnson finally got a chance to water her plants , but stopped abruptly	I realized I could n't waste this water when there are people in Watsonville who do n't have fresh water to drink
+5	I realized I could n't waste this water when there are people in Watsonville who do n't have fresh water to drink	She has n't played any music since the earthquake hit , out of respect for those who died on Interstate 880 where the roadway collapsed
+5	The FCC moves were good news for AT & T , which has been striving since the breakup of the phone system for greater latitude in pricing and reduced regulation	Alfred Sikes , the new FCC chairman , championed deregulation of AT & T at his last job as head of a Commerce Department telecommunications agency
+8	The FCC took three specific actions regarding AT & T	By a 4-0 vote , it allowed AT & T to continue offering special discount packages to big customers
+0	AT & T gave a 5 % to 10 % discount to the Memphis , Tenn. , company that oversees Holiday Inns , in response to a similar discount offered to Holiday Corp. by MCI Communications Corp	that because MCI 's offer had expired AT & T could n't continue to offer its discount plan
+2	AT & T offered a similar Tariff 15 discount to Resort Condominium International , of Indianapolis , to meet another MCI bid	The FCC `` did n't say I could n't do it again
+9	they expect to re-examine how AT & T is regulated since competition has increased	the agency to propose new rules next year
+8	AT & T applauded the FCC 's actions	The time is long overdue to take a look at the fierce competition in the long-distance business and the rules governing it , '' the New York telecommunications firm said in a statement
+2	it was `` obviously disappointed '' with the FCC decision on Tariff 12	it will petition the FCC decision in federal court
+2	it will petition the FCC decision in federal court	We believe that the court will find it unlawful
+5	Separately , AT & T filed a countersuit against MCI accusing it of misleading consumers through allegedly `` false and deceptive '' advertising	The AT & T action was the most recent blow in a nasty fight
+2	The AT & T action was the most recent blow in a nasty fight	Earlier this month , MCI sued AT & T in federal district court , claiming that AT & T 's ads are false
+8	Interviews with three major fund groups confirm the trend	Their junk funds combined have had net outflows totaling nearly $ 500 million , or about 13 % of their junk fund assets , in the past two months
+8	negative publicity has exacerbated investors ' concern about recent declines in junk-bond prices	People have been seeing headline after headline after headline and saying : ` I ca n't take it anymore -- I 'm getting out
+2	The withdrawals could spell trouble for the $ 200 billion junk market	If the heavy outflows continue , fund managers will face increasing pressure to sell off some of their junk to pay departing investors in the weeks ahead
+9	If the heavy outflows continue , fund managers will face increasing pressure to sell off some of their junk to pay departing investors in the weeks ahead	Such selling could erode prices of high-yield junk bonds , already weakened by a rash of corporate credit problems
+2	Mutual fund groups have n't lost control of much of the outgoing money	that investors have transferred most of it into their money market accounts , and to a lesser extent , government-bond funds
+8	The $ 1.5 billion Fidelity High Income Fund has had a net outflow of about $ 150 million in the past two months	About $ 60 million streamed out last week alone , double the level of the week following last month 's Campeau Corp. credit squeeze
+5	The fund , with a cash cushion of more than 10 % , has `` met all the redemptions without having to sell one thing	Our fund has had { positive } net sales every month for the last three years -- until this month
+2	Still , two-thirds of the outflow has been steered into other Vanguard portfolios	The fund now holds a cash position of about 15 %
+8	Those withdrawals followed little change in the fund 's sales picture this year through August	The last two months have been the whole ball game
+8	Junk-fund holders have barely broken even this year , as fat interest payments barely managed to offset declining prices	Through Oct. 19 , high-yield funds had an average 0.85 % total return ( the price change plus dividends on fund shares ) , according to Lipper Analytical Services Inc
+1	Fidelity 's junk fund has fallen 2.08 % this year through Oct. 19	the Vanguard fund rose 1.84 %
+2	People who remain in junk funds now could get hit again	Many funds in recent weeks and months have been selling their highest-quality junk issues , such as RJR Nabisco , to raise cash to meet expected redemptions . Funds might be forced to accept lower prices if they expand their selling to the securities of less-creditworthy borrowers.And then , asset values of the funds could plunge more than they have so far
+2	There was a general feeling that we 'd seen the worst	The resignation came as a great surprise
+2	The market was caught totally the wrong way	Everyone was extremely long on sterling
+1	In late New York trading yesterday , the dollar was quoted at 1.8400 marks , up from 1.8353 marks late Wednesday , and at 142.10 yen , up from 141.52 yen late Wednesday	Sterling was quoted at $ 1.5765 , sharply down from $ 1.6145 late Wednesday
+5	U.S. GNP rose at an annual rate of 2.5 % in the third quarter	The implicit price deflator , a measure of inflation , was down to a 2.9 % annual rate of increase in the quarter from a 4.6 % rate of gain in the second quarter
+8	But the broader truth is more complicated -- and dismaying	The policy was contained in an exchange of letters last October between the Senate intelligence committee and the CIA and National Security Council.Staff lawyers for both sides were busy agreeing with one another about what the U.S. could not do to oust the Panamanian thug.They simply got carried away with interpreting what the executive order banning assassinations really meant.Mr . Boren himself did n't discover the warn-your-enemy nuance until Mr. Bush told him privately at the White House last week
+5	They simply got carried away with interpreting what the executive order banning assassinations really meant	Mr. Boren himself did n't discover the warn-your-enemy nuance until Mr. Bush told him privately at the White House last week
+2	It 's ironic that David Boren should be in the center of this mire	A former Oklahoma governor , he 's a thoughtful defender of presidential powers in foreign policy
+5	A former Oklahoma governor , he 's a thoughtful defender of presidential powers in foreign policy	He 's a rare Democratic hawk
+5	He 's a rare Democratic hawk	He 's the senator most like Arthur Vandenberg , the GOP senator from Michigan who worked to forge a bipartisan foreign policy in the 1940s
+5	He 's the senator most like Arthur Vandenberg , the GOP senator from Michigan who worked to forge a bipartisan foreign policy in the 1940s	Vandenberg and Rayburn are heroes of mine
+2	Vandenberg and Rayburn are heroes of mine	They allowed this country to be credible
+6	But in 1989 most senators have other ideas	Last July , his committee rejected a Reagan administration plan to support a coup in Panama
+8	Last July , his committee rejected a Reagan administration plan to support a coup in Panama	Ohio Democrat Howard Metzenbaum refused to support any plan that might get people hurt , a charming notion for a great power
+5	Ohio Democrat Howard Metzenbaum refused to support any plan that might get people hurt , a charming notion for a great power	Maine Republican William Cohen said the plan might violate the assassination ban
+9	So the administration dropped it	By October , when the committee rejected a much more modest covert proposal , even the administration was agreeing little should be done
+8	but he does concede that Congress has made mistakes	In the aftermath of Vietnam , in the aftermath of Iran-Contra , I can understand some people might think that if they plan a coup , they have to bring their lawyers , '' he says
+2	it means a bipartisan majority	The sustainability of U.S. foreign policy is essential Why was containment so successful ? Because it had bipartisan support
+6	The sustainability of U.S. foreign policy is essential	Why was containment so successful ? Because it had bipartisan support
+2	Mr. Boren is confusing consensus on general principles with agreement on specific actions	that even Grenada or the Libyan raid would have taken place if `` consensus '' had been required
+1	Vandenberg and Rayburn were wise enough to leave specific operations to presidents	modern senators , Mr. Boren notwithstanding , are less modest
+0	The result is that the Senate committee has what amounts to veto power over every covert action	I would n't say it 's quite a veto
+8	Mr. Boren even spies a silver lining	He figures the episode will help `` clarify any ambiguities '' between the committee and administration
+8	More broadly , Mr. Boren hopes that Panama will shock Washington out of its fear of using military power	Maybe this will jolt us out of the post-Vietnam syndrome that we never are prepared to use force , '' he says
+4	the problem goes beyond legal interpretation	Maybe the problem is a political system that wo n't act without an `` exchange of letters
+2	that their substitute is a system that produces an absurd gridlock	The lawyers are now in charge of our national security
+2	But if , as many now fear , Waertsilae Marine joins the ranks of failed shipyards it might turn out to be remembered most as a blemish on Finland 's international reputation	The shipyard 's 6.5 billion Finnish markka ( $ 1.54 billion ) backlog includes about 20 ships ordered by big international shippers , including three for Carnival Cruise Lines Inc
+8	However , some bankers cited possible parallels between the Waertsilae Marine case and the collapse of Norway 's state-owned Kongsberg Vappenfabrikk AS two years ago	In that case , international banks and investors incurred big losses because they incorrectly believed the company 's debt carried implicit state guarantees
+2	The decision by a majority of state-appointed Waertsilae Marine directors Monday to file for bankruptcy was an abrupt about-face from previous government policy	In August , the government played a major part in a sweeping restructuring of the troubled shipyard
+5	Government officials were expected to combine Waertsilae Marine with two other struggling firms	The government spent most of last year attempting to carry out such a plan
+2	Mr. Suominen had grown increasingly worried about the state 's potential financial exposure as Waertsilae Marine 's losses ballooned to more than double the figure estimated in August	that Mr. Suominen may have decided to cut Finland 's losses once and for all
+2	The last thing markets like is uncertainty	you 'll see share prices go down
+6	The pound immediately began to take a buffetting after the resignations were announced	In late New York trading , sterling stood at $ 1.5765 , down from $ 1.6145 late Wednesday
+6	The British economy is hardly the picture of health these days	At 15 % , base interest rates are the highest in eight years
+5	and the 7.6 % annual inflation rate is by far the highest in the European Community	Unions are pressing demands for wage increases of more than 10 % despite general belief that economic growth next year will be less than 2 %
+6	Increasingly , the financial markets are reflecting the gloom	The Financial Times 100-share index has dropped about 12 % from its 1989 high of 2423.9 on Sept. 8
+5	The Financial Times 100-share index has dropped about 12 % from its 1989 high of 2423.9 on Sept. 8	Yesterday , even before the resignations were announced , the index dove 32.5 points to close at 2129.4
+1	a recession	how deep is it going to be
+2	The outlook for corporate earnings is fairly bleak	It 's quite likely we 're going to get repeats '' of the mid-October market shocks
+8	Red ink already has begun to flow in the wake of the U.S.-U.K. market breaks of Oct. 13 and Oct. 16	it will incur a second-half loss as a result of the market plunge
+2	that the loss stemmed from the default of three options traders who had bet on a price rise in UAL Corp. shares before Oct. 13	The price plummeted after a proposed leveraged buy-out of the airline fell through
+6	Denizens of London 's financial district are cushioning themselves for heavy blows	A lot more of our customers are staying until our 10 p.m. closing time , '' says Christopher Brown , managing director of Corney & Barrow Restaurants Ltd. , which runs five tony wine bars in the district
+9	There 's a strong sense among the martini set that there 's more { bad news } to come	People in the stock market were very much Thatcher 's children -- very young and wealthy optimists
+8	The malaise has created a nostalgic longing for the uncomplicated days of the mid-1980s	People come to us saying they 'd like to be back where they were a few years ago , in a more collegial atmosphere , with less tension , '' says Stephen Waterhouse , managing director of Hanover Partners Ltd. , a financial district head-hunting firm
+8	But after trading losses in the mid-October market jolts here , many people will be lucky to have jobs at all	The industry , which currently employs about 25,000 people in London , has shed about 2,500 jobs over the past two years
+2	Everybody and his sister have opened up M & A shops	It 's difficult to see that there 's going to be enough business to go around
+8	It 's difficult to see that there 's going to be enough business to go around	About eight firms will get the lion 's share
+5	About eight firms will get the lion 's share	At the others , there are going to be a lot of disappointments , after all those promises and all that big money that 's been paid to people
+8	It all adds up to a cold winter here	People are just plain scared
+2	One person who is past worrying about London 's blues is Christopher Hartley	Last summer , he chucked his 10-year career as a London stockbroker and headed for the mountains
+2	I 'm glad to be out	The percentage of your day spent twiddling your thumbs got greater , and the work day kept getting longer
+8	The warning by the U.S. attorney 's office follows two decisions by the U.S. Supreme Court last June	In those cases , the high court ruled that federal law gives prosecutors broad authority to seize assets of people accused of racketeering and drug-related crimes , including fees paid to lawyers before an indictment
+8	According to individuals familiar with Mr. Antar 's case , prosecutors issued their warning this week after one of Mr. Antar 's attorneys asked whether legal fees might be subject to seizure	In a letter , prosecutors told Mr. Antar 's lawyers that because of the recent Supreme Court rulings , they could expect that any fees collected from Mr. Antar may be seized
+8	In a letter , prosecutors told Mr. Antar 's lawyers that because of the recent Supreme Court rulings , they could expect that any fees collected from Mr. Antar may be seized	Prosecutors have told Mr. Antar 's attorneys that they believe Mr. Antar 's allegedly ill-gotten gains are so great that any money he has used to pay attorneys derives from illegal activities.Therefore , they said , the money can be taken from the lawyers even after they are paid
+8	Mr. Antar was charged last month in a civil suit filed in federal court in Newark by the Securities and Exchange Commission	In that suit , the SEC accused Mr. Antar of engaging in a `` massive financial fraud '' to overstate the earnings of Crazy Eddie , Edison , N.J. , over a three-year period
+8	that Mr. Antar aimed to pump up the company 's stock price through false financial statements in order to sell his stake and reap huge profits	Mr. Antar made more than $ 60 million from the sale of his shares between 1985 and 1987
+8	that the government 's fee-forfeiture power is to be used sparingly	According to department policy , prosecutors must make a strong showing that lawyers ' fees came from assets tainted by illegal profits before any attempts at seizure are made
+8	That 's just what happened in the October 1987 crash	As the market tumbled , disorderly market conditions prevailed : The margins between buying bids and selling bids widened ; trading in many stocks was suspended ; orders took unduly long to be executed ; and many specialists stopped trading altogether
+8	As the market tumbled , disorderly market conditions prevailed	The margins between buying bids and selling bids widened
+7	The margins between buying bids and selling bids widened	trading in many stocks was suspended
+7	The margins between buying bids and selling bids widened ; trading in many stocks was suspended	orders took unduly long to be executed
+2	The situation was like that of a skier who is thrown slightly off balance by an unexpected bump on the slope	His skis spread farther and farther apart
+9	His skis spread farther and farther apart -- just as buy-sell spreads widen during a financial panic -- and soon he is out of control	Unable to stop his accelerating descent , he crashes
+2	It 's doubtful , though , whether circuit breakers do any real good	In the additional time they provide even more order imbalances might pile up , as would-be sellers finally get their broker on the phone
+2	Instead , an appropriate institution should be charged with the job of preventing chaos in the market : the Federal Reserve	The availability of timely assistance -- of a backstop -- can help markets retain their resilience
+6	The availability of timely assistance -- of a backstop -- can help markets retain their resilience	The Fed already buys and sells foreign exchange to prevent disorderly conditions in foreign-exchange markets
+6	This does not mean that the Federal Reserve does not already play an important indirect role in the stock market	In 1987 , it pumped billions into the markets through open market operations and the discount window
+5	In 1987 , it pumped billions into the markets through open market operations and the discount window	It lent money to banks and encouraged them to make funds available to brokerage houses
+2	The stock market is certainly not too big for the Fed to handle	The foreign-exchange and government securities markets are vastly larger
+8	The foreign-exchange and government securities markets are vastly larger	Daily trading volume in the New York foreign exchange market is $ 130 billion.The daily volume for Treasury Securities is about $ 110 billion
+1	Daily trading volume in the New York foreign exchange market is $ 130 billion	The daily volume for Treasury Securities is about $ 110 billion
+2	The combined value of daily equity trading on the New York Exchange , the American Stock Exchange and the NASDAQ over-the-counter market ranges between $ 7 billion and $ 10 billion	The $ 13 billion the Fed injected into the money markets after the 1987 crash is more than enough to buy all the stocks traded on a typical day
+8	The Fed 's stock market role ought not to be very ambitious	It should seek only to maintain the functioning of markets -- not to prop up the Dow Jones or New York Stock Exchange averages at a particular level
+5	not to prop up the Dow Jones or New York Stock Exchange averages at a particular level	The Fed should guard against systemic risk , but not against the risks inherent in individual stocks
+2	The Fed should guard against systemic risk , but not against the risks inherent in individual stocks	It would be inappropriate for the government or the central bank to buy or sell IBM or General Motors shares
+2	Instead , the Fed could buy the broad market composites in the futures market	The increased demand would normalize trading and stabilize prices
+2	Stabilizing the derivative markets would tend to stabilize the primary market	The Fed would eliminate the cause of the potential panic rather than attempting to treat the symptom -- the liquidity of the banks
+8	But since the member countries of the International Monetary Fund agreed to the `` Guidelines to Floating '' in 1974 , such difficulties have been avoided	I can not recall any disorder in currency markets since the 1974 guidelines were adopted
+2	Caution should . . . be the rule of the day	It would be damaging to industry and to the financial sector in general , to say nothing of banks , if prudence does not guide the financing of leveraged transactions
+4	In other comments , he said takeovers may not always be the most efficient way of securing a change of corporate direction or strategy	A similar result could sometimes be achieved , at less cost , by changing managements
+2	that last week a customer discovered two flaws in its 80486 microprocessor chip 's `` floating-point unit '' , a set of circuits that do certain calculations	On Friday , Intel began notifying customers about the bugs which cause the chip to give wrong answers for some mathematical calculations
+2	the flaws do n't affect them	Bugs like this are just a normal part of product development
+8	the bugs wo n't delay their development of 486-based machines	We have n't modified our schedules in any way
+9	Nonetheless , concern about the chip may have been responsible for a decline of 87.5 cents in Intel 's stock to $ 32 a share yesterday in over-the-counter trading , on volume of 3,609,800 shares , and partly responsible for a drop in Compaq 's stock in New York Stock Exchange composite trading on Wednesday	Yesterday , Compaq plunged further
+2	it had corrected the problems and would start producing bugless chips next week	We should not be seeing any more
+8	the bugs only emerge on esoteric applications such as computer-aided design and scientific calculations and then very seldom	These errata do not affect business programs
+2	These errata do not affect business programs	The bugs will cause problems in `` specific and rare circumstances that will not occur in typical applications '' such as word-processing and spreadsheets
+4	Intel is n't wholly to blame for the snafu	The real culprits are computer makers such as IBM that have jumped the gun to unveil 486-based products
+8	The real culprits are computer makers such as IBM that have jumped the gun to unveil 486-based products	The reason this is getting so much visibility is that some started shipping and announced early availability
+8	IBM has no plans to recall its add-on cards and could probably circumvent the bugs without long product delays	We do n't look at this as a major problem for us
+2	it 's real strength lies in its software inheritance	The 486 is the descendant of a long series of Intel chips that began dominating the market ever since IBM picked the 16-bit 8088 chip for its first personal computer
+2	Of the big computer makers , only Apple Computer Co. bases its machines on Motorola chips instead	The 486 is going to have a big impact on the industry
+2	The 486 is going to have a big impact on the industry	It 's going to be the leading edge technology in personal computers for the next few years
+5	The venture is part of a two-pronged effort to shore up a division that has posted continuing operating losses for several years	The other element includes consolidating BethForge 's press-forge operations
+9	it is significant because it marks the first time the nation 's No . 2 steelmaker has joined forces with a foreign partner	Wall Street analysts have criticized Bethlehem for not following its major competitors in linking with a foreign company to share costs and provide technology to modernize old facilities or build new ones
+2	We think it 's a step in the right direction for Bethlehem	It 's important to share the risk and even more so when the market has already peaked
+9	Bethlehem is also working with the United Steelworkers union to consolidate BethForge 's two machine shops and four heat-treatment facilities of the press-forge operations	Once the consolidation is complete , Bethlehem plans to concentrate its forgings business on nuclear fabrication , hardened steel and large-diameter steel rolls for rolling mills and selected custom-die applications
+8	If you 're still wondering about the causes of the slump in the junk-bond market , consider the case of Columbia Savings & Loan	The California thrift has just announced a $ 226 million third-quarter loss
+8	Now , we regard this as a largely phony issue , but the `` long term '' is nonetheless a big salon topic all around the Beltway	It turns out that Columbia had this huge loss in large part because the new congressionally mandated rules forced it to adjust the book value of its soon-to-be-sold junk bonds to the lower of either their cost or market value
+2	It turns out that Columbia had this huge loss in large part because the new congressionally mandated rules forced it to adjust the book value of its soon-to-be-sold junk bonds to the lower of either their cost or market value	They could no longer be classified as what Columbia regarded them , namely long-term investments
+8	Congress 's ham-handed treatment of the existing structure of junk-bond holdings reminds us of a story in the Journal earlier this year about the Baby Bell companies ' desire to have the court-ordered bans lifted on offering information services	The issue of seeking relief from Congress was raised to Delbert Staley , the chairman of Nynex.Mr . Staley replied : `` Legislation tends to be compromised.I believe we have to take a shot at getting as much done as we can through the court , through Justice and through state and federal regulatory agencies.I see Congress as a last resort
+2	The issue of seeking relief from Congress was raised to Delbert Staley , the chairman of Nynex	Mr. Staley replied
+2	Legislation tends to be compromised	we have to take a shot at getting as much done as we can through the court , through Justice and through state and federal regulatory agencies
+8	I believe we have to take a shot at getting as much done as we can through the court , through Justice and through state and federal regulatory agencies	I see Congress as a last resort
+8	Healthy thrifts such as Columbia or the junk-bond market itself should have been so lucky	The reality of life in modern America is that if you want to wreck something that works , let it fall into the hands of Congress
+2	The shift wo n't affect operations	As part of its restructuring several years ago , Exxon moved most of those out of the city and sold its 53-floor Rockefeller Center skyscraper to a Japanese company
+6	But the pullout is an embarrassment to New York City officials , coming at a time of high office building vacancy rates and departures by other major companies	Mobil Corp. is in the process of vacating its headquarters here , and huge operations like J.C. Penney & Co. and Trans World Airlines have recently left
+6	New York authorities reacted with concern and even some anger to the idea of the nation 's third-largest corporation leaving without giving them an opportunity to accommodate it	We are dismayed , but there 's nothing we can do about it now , '' said Stanley Grayson , New York City deputy mayor for finance and economic development
+2	it was beyond all expectations ; what a coup	Dallas , its economy based on oil and real estate , has been in a slump
+5	it will build a new headquarters on a 132-acre tract in the 10-year-old Las Colinas complex in the suburb of Irving	Until the building is completed , Exxon will rent part of an existing office tower
+2	it will cost less to run its headquarters at Las Colinas than in New York	The company wo n't say how much it will save , but during at its interim location , sources say it will likely pay rent of $ 10 to $ 15 per square foot.Owners of the building in New York say they will be asking $ 50 per square foot for rent to fill the space that Exxon is vacating.In Texas , taxes and development costs are also lower , they said
+1	it will likely pay rent of $ 10 to $ 15 per square foot	they will be asking $ 50 per square foot for rent to fill the space that Exxon is vacating
+8	The completion of the merger agreement follows months of twists and turns	In January , American Medical brought in a new chief executive officer , Richard A. Gilleland , 45
+9	In January , American Medical brought in a new chief executive officer , Richard A. Gilleland , 45	A few days later , American Medical announced sharply lower earnings , taking charges of $ 24 million for insurance reserves and canceled real estate leases
+8	It also was considering a restructuring to help boost the stock price	A group including several members of the the Bass family of Texas urged the company to take some steps to maximize shareholder value
+9	Then , after extending its offer four times waiting for a congressional tax ruling , IMA early this month lowered its offer to $ 26.50 a share amid turbulence in the junk bond market	American Medical accepted the offer
+2	that he does n't want the ability to halt the markets	that discretionary power could have an impact on the markets if rumors were to circulate about when the exchanges might be closed
+5	that discretionary power could have an impact on the markets if rumors were to circulate about when the exchanges might be closed	that the president already has the power to close the markets in an emergency
+2	he asked the Working Group on Financial Markets to determine whether futures margins are too low	that some minimum margin requirements have been reduced to levels below those before the 1987 crash
+9	Mr. Brady also said he expects the leveraged buy-out phenomenon to `` end under ( its ) own weight	Asked whether there is anything Congress should do to curb the LBO boom , Mr. Brady responded , `` I think the LBO phenomenon , ( while ) it wo n't stop completely , will be a thing of the past
+5	Asked whether there is anything Congress should do to curb the LBO boom , Mr. Brady responded , `` I think the LBO phenomenon , ( while ) it wo n't stop completely , will be a thing of the past	Before taking any action , he advised the panel to `` see what the market has produced as a cure
+8	The former Wall Street executive refused to offer an opinion on the controversy surrounding program trading	I do not have a view of whether we should do anything about program trading at this time , '' he said
+8	The complex bill covers a wide range of provisions that would affect the funding and authority of the Commodity Futures Trading Commission and would profoundly change the way the industry is regulated	These include provisions relating to the technology and systems that must be employed by exchanges , oversight and disciplinary procedures for exchange trading practices , the relationship between commodity brokerage firms and floor traders , and exchange governance
+5	One of the most prominent features is the requirement that in three years all exchanges have in place a system that records all trades by a source independent of the executing broker	The New York futures exchanges have been working together to develop a trade recording system much like the one called for in the bill
+2	The U.S. futures exchanges compete world-wide as never before	Today , trading in almost any commodity can be diverted from U.S. markets with just a few strokes of a keyboard
+5	Today , trading in almost any commodity can be diverted from U.S. markets with just a few strokes of a keyboard	All foreign markets are aggressively courting U.S. business
+2	Today , trading in almost any commodity can be diverted from U.S. markets with just a few strokes of a keyboard.All foreign markets are aggressively courting U.S. business.In fact , several London markets already offer lower costs for trading in the same or very similar contracts	The U.S. exchanges need both market integrity and cost-efficiency ; long-term growth depends on it
+2	The U.S. exchanges need both market integrity and cost-efficiency	long-term growth depends on it
+8	The Senate bill contains many provisions that will increase the costs of trading	The most arbitrary of these is the imposition of `` service fees , '' which will directly widen the cost spread between U.S. and foreign markets . Other provisions have a more subtle , but nonetheless real and detrimental effect on the international position of U.S. exchanges.These include the extension of liability into areas beyond those established by judicial precedent and the expansion of liability to include punitive damages . In addition to increasing costs as a result of greater financial exposure for members , these measures could have other , far-reaching repercussions . One section of the bill would make all commodity brokerage firms and floor brokers liable for damages without willful misconduct.Nowhere in the federal securities law is simple negligence or inadvertent action a source of liability under similar circumstances . It is only logical to assume that the enactment of this provision will lead to increased litigation.In an already low-profitmargin business , commodity brokerage firms may well decide to eliminate the risk and expense of dealing with the retail public , depriving the private individual of access to the markets . Another measure makes commodity brokerage firms liable for violations committed by independent floor brokers who execute trades for them.This untried concept would expose these firms to potentially astronomical punitive damages . Faced with the virtually impossible task of supervising the execution of each trade , many commodity brokerage firms are likely to stop doing business with independents and instead hire their own salaried floor brokers.This would force out of business many of the individuals and small firms that function as floor brokers.A consequence of their departure could be a serious diminution of market liquidity . Finally , under the bill , a number of legitimate , longstanding business practices would be arbitrarily banned , unless the CFTC were to take specific and timely action to permit them to continue.In other words , regulation will occur through inaction and happenstance , rather than through a normal deliberative procedure . The affected practices include the placing of oral orders , which is the way most public customer orders are placed , and trading between affiliated brokers , even though in some cases trading with affiliates may be the only way to obtain the best execution for a client.Also precluded would be dual trading , whereby a broker trades for customers as well as his own account , a practice that provides needed liquidity to the markets
+8	Other provisions have a more subtle , but nonetheless real and detrimental effect on the international position of U.S. exchanges	These include the extension of liability into areas beyond those established by judicial precedent and the expansion of liability to include punitive damages
+1	One section of the bill would make all commodity brokerage firms and floor brokers liable for damages without willful misconduct	Nowhere in the federal securities law is simple negligence or inadvertent action a source of liability under similar circumstances
+2	It is only logical to assume that the enactment of this provision will lead to increased litigation	In an already low-profitmargin business , commodity brokerage firms may well decide to eliminate the risk and expense of dealing with the retail public , depriving the private individual of access to the markets
+2	Faced with the virtually impossible task of supervising the execution of each trade , many commodity brokerage firms are likely to stop doing business with independents and instead hire their own salaried floor brokers	This would force out of business many of the individuals and small firms that function as floor brokers
+5	Zaita the `` cripple-maker '' rearranges the limbs of aspiring beggars -- and takes a cut of every cent they cadge.Hassan Kamel Ali is a card shark and dope dealer who has a simple creed : `` I live in this world , assuming that there is no morality , God or police	For the killer and thief , Said Mahran , fame flows from the barrel of a gun
+8	For the killer and thief , Said Mahran , fame flows from the barrel of a gun	One man said you act as a stimulant a diversion to relieve people 's boredom
+8	They also chart the evolution of a city that has grown tenfold in the author 's lifetime , from a colonial outpost of fez-wearing pashas to a Third World slum choking on its own refuse	Soon it 'll be so crowded , '' a narrator complains , `` that people will start eating each other
+6	dooming his family to poverty and eventual disgrace	His daughter turns to dressmaking , then to peddling herself for a few piasters
+7	His daughter turns to dressmaking , then to peddling herself for a few piasters	One son sacrifices his own career so that his avaricious brother can succeed
+1	His daughter turns to dressmaking , then to peddling herself for a few piasters	One son sacrifices his own career so that his avaricious brother can succeed
+6	The real tragedy , though , lies not in the family 's circumstances but in its concern for appearances	Mourning for the father is overshadowed by the shame of burying him in a pauper 's grave
+7	Mourning for the father is overshadowed by the shame of burying him in a pauper 's grave	The family moves to another house at night to conceal shabby belongings from neighbors
+2	But its unsentimental sketches of Cairo life are vintage Mahfouz	We see , smell and hear slums filled with `` the echoes of hawkers advertising their wares interspersed with abusive language , rattling coughs and the sound of people gathering spittle in their throats and spewing into the street
+2	the prose is closer to Balzac 's `` Pere Goriot '' than it is to `` Arabian Nights	Mr. Mahfouz began writing when there was no novelistic tradition in Arabic , and he modeled his work on Western classics
+2	Mr. Mahfouz began writing when there was no novelistic tradition in Arabic , and he modeled his work on Western classics	In one sense , this limits him
+2	In one sense , this limits him	unlike a writer such as Gabriel Garcia Marquez Mr. Mahfouz 's style offers little that can be labeled `` Egyptian
+2	reminiscent of `` Crime and Punishment	Its antihero , Said Mahran , is an Egyptian Raskolnikov who seeks nobility in robbing and killing
+8	Its antihero , Said Mahran , is an Egyptian Raskolnikov who seeks nobility in robbing and killing	I am the hope and the dream , the redemption of cowards , '' he says in one of many interior monologues
+8	as it has in Said	His giddy dream of redeeming a life of `` badly aimed bullets '' by punishing the `` real robbers '' -- the rich `` dogs '' who prey on the poor -- leads only to the death of innocents , and eventually to his own
+8	Cairo 's spirited squalor also has gone gray	Here , the city is dark and laden with symbolism : Said has left his jail cell only to enter the larger prison of Cairo society
+2	While the theme is compelling , the plot and characters are not	We never care about Said or the `` hypocrites '' he hunts
+2	We never care about Said or the `` hypocrites '' he hunts	The Thief and the Dogs '' is a pioneering work , the first stream-of-consciousness novel in Arabic , but it is likely to disappoint Western readers
+8	The indirectness of his later work reflects both an appetite for new genres and the hazards of art in the Arab world	Mr. Mahfouz has been pilloried and censored for questioning Islam and advocating peace with Israel
+2	Mr. Mahfouz has been pilloried and censored for questioning Islam and advocating peace with Israel	Veiling his message has helped him endure
+8	Wedding Song '' gives glimpses of a Cairo that has become so much harsher since his youth	The clutter of the 1940s remains , but its color has drained away , and the will to overcome has been defeated
+7	The clutter of the 1940s remains , but its color has drained away , and the will to overcome has been defeated	Cars ca n't move because of overflowing sewers
+7	Cars ca n't move because of overflowing sewers	Characters complain ceaselessly about food queues , prices and corruption
+8	Wedding Song '' gives glimpses of a Cairo that has become so much harsher since his youth , when , as he once said , `` the poorest person was able to find his daily bread and without great difficulty . '' The clutter of the 1940s remains , but its color has drained away , and the will to overcome has been defeated.Cars ca n't move because of overflowing sewers.Characters complain ceaselessly about food queues , prices and corruption.And the ubiquitous opium addict is now a cynical and selfish man who gripes : `` Only government ministers can afford it these days	Having lost their faith in God , in social reform and in opium , Cairenes are left with nothing but their sense of humor
+2	Norwood , Mass.-based Phoenix , a once-high-flying maker of software for personal computers , has had substantial losses in the past two quarters	Its stock , which was as high as $ 18.75 a share , has been trading under $ 4 a share recently
+2	Instead , Congress 's idea of reform is to increase this slush fund by $ 28.4 million.And transfer control of much of it to Capitol Hill	The HUD scandals will simply continue , but under new mismanagement
+2	Of course , this kind of blatant congressional pork-barreling is called `` constituent service '' by Members , while the same kind of noncompetitive favoritism at HUD is labeled `` influence peddling	Unlike those awful Republican consultants , Members do n't profit directly from HUD projects
+4	Unlike those awful Republican consultants , Members do n't profit directly from HUD projects	They merely collect campaign contributions from developers that help keep them in office
+2	Conference committees are breeding grounds for mischief	They are often closed to the public and no minutes are taken
+2	They are often closed to the public and no minutes are taken	Members find it easy to doctor legislation by slipping in special provisions that could never survive in the cold light of day
+8	In this case , the Members outdid themselves	They transferred some $ 28 million from the Community Development Block Grant program designated largely for low- and moderate-income projects and funneled it into such items as : -- $ 1.2 million for a performing-arts center in Newark , -- $ 1.3 million for `` job retention '' in Hawaiian sugar mills . -- $ 400,000 for a collapsing utility tunnel in Salisbury , -- $ 500,000 for `` equipment and landscaping to deter crime and aid police surveillance '' at a Michigan park . -- $ 450,000 for `` integrated urban data based in seven cities . '' No other details . -- $ 390,000 for a library and recreation center at Mackinac Island , Mich
+5	I do n't know how much got through	Nobody has any credible estimate
+8	I welcome the emphasis that is now being put on the drug problem	The efforts to get to the people who are addicted , try to rehabilitate them ; if they can not be rehabilitated , at least to contain them ; to educate people , to strongly discourage use of drugs by people who are casual users and first users , to stop this process among the young -- all of these things I think are extremely important
+8	The conceptual base -- a criminal-justice approach -- is the same that I have worked through before	We designed a comprehensive program , and we worked hard on it
+9	We designed a comprehensive program , and we worked hard on it	In the Reagan administration we designed a comprehensive program ; we worked very hard on it
+5	In the Reagan administration we designed a comprehensive program ; we worked very hard on it	Our international efforts were far greater than ever before
+5	These efforts wind up creating a market where the price vastly exceeds the cost	With these incentives , demand creates its own supply and a criminal network along with it
+2	With these incentives , demand creates its own supply and a criminal network along with it	It seems to me we 're not really going to get anywhere until we can take the criminality out of the drug business and the incentives for criminality out of it
+2	Frankly , the only way I can think of to accomplish this is to make it possible for addicts to buy drugs at some regulated place at a price that approximates their cost	When you do that you wipe out the criminal incentives
+8	When you do that you wipe out the criminal incentives , including , I might say , the incentive that the drug pushers have to go around and get kids addicted , so that they create a market for themselves	They wo n't have that incentive because they wo n't have that market
+2	I find it very difficult to say that	Sometimes at a reception or cocktail party I advance these views and people head for somebody else
+8	I find it very difficult to say that	Sometimes at a reception or cocktail party I advance these views and people head for somebody else
+2	Sometimes at a reception or cocktail party I advance these views and people head for somebody else	They do n't even want to talk to you
+2	They do n't even want to talk to you	I know that I 'm shouting into the breeze here as far as what we 're doing now
+2	But I feel that if somebody does n't get up and start talking about this now , the next time around , when we have the next iteration of these programs , it will still be true that everyone is scared to talk about it	No politician wants to say what I just said , not for a minute
+8	But trade , one of the economy 's main forces in the past few years , showed a sharp deterioration	Imports of goods and services soared , while exports were flat
+2	For the past two years , the foreign trade sector has been a major contributor to economic growth	You ca n't rely now solely on consumer spending to sustain the economy on a solid growth path
+5	many analysts expect it to slow considerably in the fourth quarter as demand for autos falls	Many economists think the rise in the value of the U.S. dollar this year will further crimp progress in trade
+5	Treasury Secretary Nicholas Brady called the 2.5 % pace `` good , solid growth , '' although he said he expects the expansion to slow in the fourth quarter	Inflation is lower than I think people expected it to be , and I think that 's good news
+6	But administration officials were concerned over the bleak trade report	Mr. Darby called it a `` disappointment
+2	Some analysts also were disturbed by a pickup in the growth of business inventories	While a buildup of these stocks adds to GNP , it can hurt the economy because a pileup of unsold goods can lead to production cuts and layoffs
+5	According to the report , inventories outside the farm sector grew at an annual rate of $ 24.6 billion in the third quarter , up from a $ 19.5 billion pace in the second quarter	Manufacturers ' stocks fattened at an $ 18.4 billion annual rate , up from $ 8.3 billion
+8	Northrop Corp. received a $ 93.5 million contract by the U.S. Air Force for production tooling and test equipment for the Tacit Rainbow defense-suppression missile	The contract provides additional equipment for Northrop , the prime contractor on the missile , and also supports a 1990 purchase of 90 missiles for follow-on flight tests
+5	General Motors Corp. 's Chevrolet division said it is offering $ 750 cash incentives on all 1990 models of its full-size Blazer and Suburban truck lines	Chevrolet already has cash incentives on the 1989 models of these vehicles
+2	But in 1988 , it ran into a buzz saw : a Defense Department spending freeze	Iverson 's earnings plunged 70 % to $ 1.2 million
+9	Iverson 's earnings plunged 70 % to $ 1.2 million	The troubles continued in this year 's first half , when profit plunged 81 % to $ 302,000
+2	Iverson Technology is one of many small defense contractors besieged by the slowdown in defense spending	Unlike larger contractors with a broad enough base to weather the downturn easily , these companies are suffering big drops in business as once-lucrative specialty niches in the massive military market erode or even disappear
+6	there is more than one way to respond to a disaster	For many companies , the instinctive first response is to cut costs
+1	For many companies , the instinctive first response is to cut costs	Others are trying to find specialty defense work spared by the slowdown or new niches created by budget-cutting
+5	For many companies , the instinctive first response is to cut costs	Others are trying to find specialty defense work spared by the slowdown or new niches created by budget-cutting
+1	Others are trying to find specialty defense work spared by the slowdown or new niches created by budget-cutting	More venturesome businesses are applying their skills in commercial fields
+5	Others are trying to find specialty defense work spared by the slowdown or new niches created by budget-cutting	More venturesome businesses are applying their skills in commercial fields
+2	In the belief that development of advanced military technology will remain a top Defense Department priority , ERC last year acquired W.J . Schafer Associates , a technical and scientific analysis company with contracts under the Strategic Defense Initiative	While the SDI anti-missile program recently awarded W.J . Schafer two contracts totaling $ 13.4 million , ERC 's chairman and founder , Jack Aalseth , says he bought the company `` more for its technology than its customer
+9	As orders for its aircraft and submarine parts dwindled , three years of steady growth ended with a 69 % drop in income in this year 's first half	The company hit on a new strategy : If the Defense Department is so intent on saving money , why not make money off that trend
+5	UNC also is selling new parts , if needed , directly to the military instead of through a prime contractor	At as little as one-third of the government 's cost , the company is running a program to train Army helicopter pilots
+5	In another approach , tiny Iverson Technology is trying to resume its growth by braving the new world of commercial products	he hopes the company can eventually get up to half of its revenue from commercial markets
+6	Moreover , it 's trying to transfer its skill at designing military equipment to commercial ventures	A partnership with a Williamsburg , Va. , unit of Shell Oil Co. recently patented a process for producing plastic food containers that wo n't melt in microwave ovens
+8	We 're trying to take the imagination and talent of our engineers and come up with new processes for industry	It is an effort to branch out from the government
+2	Mr. Salvatori should know	Instead of helping his company in the defense spending slowdown , Dynamic Engineering Inc. , a troubled subsidiary that makes wind tunnels for the space industry , contributed to much of QuesTech 's $ 3.3 million loss on $ 55.6 million in revenue last year
+2	Instead of helping his company in the defense spending slowdown , Dynamic Engineering Inc. , a troubled subsidiary that makes wind tunnels for the space industry , contributed to much of QuesTech 's $ 3.3 million loss on $ 55.6 million in revenue last year	In January , Mr. Salvatori sold the unit
+8	Some companies are cutting costs and hoping for the best	Telos Corp. , a Santa Monica , Calif. , provider of software-development and hardware-maintenance services to the military , enjoyed steady growth until this year.Following a tripling of earnings , to $ 3.9 million , on a doubling of revenue , to $ 116 million , over four years , earnings in the company 's fiscal first quarter , which ended June 30 , plunged 90 % to $ 45,000.A one-time write-off for booking nonexistent revenue was partly to blame , but so were lower profits from a stingier contract with the Army and delays in getting paid . Telos responded by combining three of its five divisions to reduce expenses and `` bring more focus to potentially fewer bidding opportunities , '' says Lin Conger , Telos chairman and controlling shareholder
+9	Telos Corp. , a Santa Monica , Calif. , provider of software-development and hardware-maintenance services to the military , enjoyed steady growth until this year	Following a tripling of earnings , to $ 3.9 million , on a doubling of revenue , to $ 116 million , over four years , earnings in the company 's fiscal first quarter , which ended June 30 , plunged 90 % to $ 45,000
+2	Telos responded by combining three of its five divisions to reduce expenses and `` bring more focus to potentially fewer bidding opportunities	It 's evident we 're entering a more competitive era
+8	TransTechnology Corp provides a more dramatic example of cost-cutting	The company not only merged three military-electronics manufacturing operations , but also closed an unrelated plant that makes ordnance devices used in fighter planes and missiles
+5	In Japan , he 's known in racy weekly magazines as the `` King of Shady Money	If nothing else , the 57-year-old 's past has its share of dents
+3	In Japan , he 's known in racy weekly magazines as the `` King of Shady Money	If nothing else , the 57-year-old 's past has its share of dents
+8	Nearly 20 years ago , Mr. Morishita , founder and chairman of Aichi Corp. , a finance company , received a 10-month suspended sentence from a Tokyo court for violating a money-lending law and an income tax law	He was convicted of charging interest rates much higher than what the law permitted , and attempting to evade income taxes by using a double accounting system
+6	He 's had other brushes with the law	He was arrested on at least three other occasions in the '60s and '70s : for assault and unlawful confinement , for fraud and forgery of private documents , and for extortion
+2	but that it 's happy to deal with him	We like to make our own judgments '' about Mr. Morishita
+5	We like to make our own judgments '' about Mr. Morishita	People have a different reputation country by country
+3	We like to make our own judgments '' about Mr. Morishita	People have a different reputation country by country
+5	We 're an investor	In the long run , the { stock } prices will go up
+2	Mr. Morishita considers himself a connoisseur of art	In 30 years of collecting impressionist and Japanese paintings , he has acquired 600 items enough to persuade him to start a museum next year
+6	Mr. Morishita considers himself a connoisseur of art	In 30 years of collecting impressionist and Japanese paintings , he has acquired 600 items enough to persuade him to start a museum next year
+7	In 30 years of collecting impressionist and Japanese paintings , he has acquired 600 items enough to persuade him to start a museum next year	he spent $ 300 million on his art business this year
+6	he spent $ 300 million on his art business this year	A week ago , his gallery racked up a $ 23 million tab at a Sotheby 's auction in New York buying seven works , including a Picasso
+5	According to Teikoku Data Bank Ltd. , which tracks company earnings , Aichi 's revenue rose 15 % to 49.3 billion yen ( $ 348.4 million ) in the year ended February	Revenue doubled from two years ago
+5	That is , if the company reported results correctly	The Asahi Shimbun , a Japanese daily , last month reported that Aichi revised its tax calculations after being challenged for allegedly failing to report all of its income to tax authorities over a two-year period
+1	The Asahi Shimbun , a Japanese daily , last month reported that Aichi revised its tax calculations after being challenged for allegedly failing to report all of its income to tax authorities over a two-year period	The Tokyo Regional Taxation Office declines to comment
+10	The small , wiry Mr. Morishita comes across as an outspoken man of the world	Stretching his arms in his silky white shirt and squeaking his black shoes , he lectures a visitor about the way to sell American real estate and boasts about his friendship with Margaret Thatcher 's son
+8	The small , wiry Mr. Morishita comes across as an outspoken man of the world	Stretching his arms in his silky white shirt and squeaking his black shoes , he lectures a visitor about the way to sell American real estate and boasts about his friendship with Margaret Thatcher 's son
+8	he immediately takes offense	Are you stupid ? '' he snaps . `` You should know what questions to ask to get people to answer
+3	Are you stupid	You should know what questions to ask to get people to answer
+1	When a small company goes belly-up , for instance , the gossipy weekly magazines are often quick to link the demise with Aichi	Mr. Morishita scoffs at those stories , as well as the ones connecting him to the Japanese mob
+8	Mr. Morishita scoffs at those stories , as well as the ones connecting him to the Japanese mob	He says he has never even dined with gangsters
+6	The gruff financier recently started socializing in upper-class circles	last year he attended a New York gala where his daughter made her debut
+6	He also leads an opulent life style	Even in Denenchofu , one of Tokyo 's richest neighborhoods , Mr. Morishita 's splashy brick manor -- one of some 10 houses he owns -- outshines the neighbors '
+8	Even in Denenchofu , one of Tokyo 's richest neighborhoods , Mr. Morishita 's splashy brick manor -- one of some 10 houses he owns -- outshines the neighbors	A lavish white portico with a stained-glass window towers over the brick wall surrounding his property
+6	Even in Denenchofu , one of Tokyo 's richest neighborhoods , Mr. Morishita 's splashy brick manor -- one of some 10 houses he owns -- outshines the neighbors	A lavish white portico with a stained-glass window towers over the brick wall surrounding his property
+8	he offers one rule to success : Never gamble too far	I quit after one try , whether I win or lose
+2	I quit after one try , whether I win or lose	I 'm done in two minutes
+5	he intends to expand his business to many other areas at home and abroad	He 'll be there wherever there 's money to be made
+6	He 'll be there wherever there 's money to be made	if he heard that soybeans make money today , he might be flying out to Chicago tomorrow
+1	Settlements reached in the first nine months of 1989 called for wage increases averaging 3.7 % in the first contract year and 3.1 % annually over the life of the contracts	For all of 1988 , union contracts provided for 2.5 % wage increases in the first year and 2.4 % over the life of the contracts
+5	About 35 % of the workers covered by contracts signed in the first nine months of year get lump-sum payments	about 15 % are covered by cost-of-living clauses
+8	wage increases in manufacturing industries continue to be smaller than those in other industries	For all six million workers under major collective bargaining agreements , regardless of when they were signed , wage increases in the first nine months of 1989 averaged 2.5 % -- including cost-of-living adjustments
+8	An enormous turtle has succeeded where the government has failed	He has made speaking Filipino respectable
+5	who stars in the children 's television show `` Batibot	He speaks only in Filipino
+5	Batibot has developed into a distinctly Philippine effort	Radio programs and books have followed the daily television show
+2	In the process , `` Batibot , '' an archaic Filipino word meaning `` strong '' or `` enduring , '' has become a powerful advocate of the use of the Filipino language	It impresses on ordinary , young Filipinos that there 's nothing to feel inferior about in using their own language
+1	When we started the program six years ago , the use of Filipino was deemed unwise by the predominantly middle class	Now it 's no longer an issue
+8	that they are prejudiced against Filipino	For the middle and upper-middle class { Filipino } is declasse
+2	There 's also resentment	Other opponents of Filipino come from non-Tagalog regions They argue that their own languages should have equal weight
+2	Other opponents of Filipino come from non-Tagalog regions	They argue that their own languages should have equal weight
+5	What tongue to speak is an emotional mine field in the Philippines	It is entrenched in the country 's colonial bonds to the U.S. , in Philippine class structure , in the regional loyalties of its people and in its island geography
+2	What tongue to speak is an emotional mine field in the Philippines	It is entrenched in the country 's colonial bonds to the U.S. , in Philippine class structure , in the regional loyalties of its people and in its island geography
+8	It is entrenched in the country 's colonial bonds to the U.S. , in Philippine class structure , in the regional loyalties of its people and in its island geography	As they did when the Philippines was a colony of the U.S. , teachers for the most part teach in English , even though it is a foreign language for most Philippine children
+2	The issue has been simmering for years	It does n't take much to provoke an intense debate
+6	It does n't take much to provoke an intense debate	When President Corazon Aquino announced last year that the language would be used in official communications , there was an uproar from many legislators , who continue to conduct debates mostly in English
+5	But many proponents of Filipino see resistance to the language finally crumbling	the media , including `` Batibot , '' have played a crucial role
+3	According to chief scriptwriter Rene Villanueva , `` Batibot '' does n't set out to advance the cause of Filipino	It 's not as if we 're teaching language per se , We 're just using it
+4	as if we 're teaching language per se	We 're just using it
+5	These days , `` Batibot '' is produced in a converted lumberyard on a shoestring budget of $ 3,000 a one-hour segment	It is shown weekdays on two of the country 's five networks
+2	But advertising revenue is inadequate	Periodically , there are threats that the program will fold
+6	Batibot '' lacks the polish of `` Sesame Street	Sound stages echo
+7	Sound stages echo	Acting sometimes falls flat
+7	Acting sometimes falls flat	There are only two large puppets in the program : Pong Pagong and a monkey named Kiko Matsing
+5	And the show 's creativity makes up for any technological deficiencies	The program is n't afraid to tackle controversial topics such as nuclear weapons and the environment
+3	Not that the language war is won , even on `` Batibot	During one recent episode , all the advertisements were in English
+6	Not that the language war is won , even on `` Batibot	During one recent episode , all the advertisements were in English
+8	its subsidiary , Home Nutritional Services Inc. , registered with the Securities and Exchange Commission an initial public offering of four million shares of common	it will sell 1.8 million of the new shares , while Home Nutritional Services will sell the remaining 2.2 million
+1	Home Nutritional currently has 10 million shares outstanding	It will have 11.8 million shares outstanding after the offering
+5	Home Nutritional currently has 10 million shares outstanding	It will have 11.8 million shares outstanding after the offering
+8	but also significantly increased its debt load	The acquisition boosted Black & Decker 's ratio of debt to total capital to more than 80 %
+1	The acquisition boosted Black & Decker 's ratio of debt to total capital to more than 80 %	they plan to reduce that ratio to less than 50 % over the next 2 1/2 years
+5	The three units had combined 1988 sales of about $ 904 million	The three units contributed about a third of Emhart 's total sales
+8	The five units generated sales of about $ 1.3 billion in 1988 , almost half of Emhart 's $ 2.3 billion revenue	Bostic posted 1988 sales of $ 255 million
+3	investor concern about Black & Decker 's increased debt burden from the Emhart purchase	The company 's stock plunged when it first announced that it planned to acquire Emhart
+8	investor concern about Black & Decker 's increased debt burden from the Emhart purchase	The company 's stock plunged when it first announced that it planned to acquire Emhart
+2	Dick Darman , call your office	Embedded in the `` budget '' being concocted by the House-Senate conference committee is something that looks , smells and waddles like a duck
+8	Embedded in the `` budget '' being concocted by the House-Senate conference committee is something that looks , smells and waddles like a duck	It 's a nuisance tax on mergers
+0	The Hart-Scott filing is then reviewed and any antitrust concerns usually met	Typically , Hart-Scott is used now to give managers of target firms early news of a bid and a chance to use regulatory review as a delaying tactic
+5	The Hart-Scott filing is then reviewed and any antitrust concerns usually met	Typically , Hart-Scott is used now to give managers of target firms early news of a bid and a chance to use regulatory review as a delaying tactic
+5	but a serious drag on thousands of small , friendly deals	One especially dangerous aspect to the new tax would be that the proceeds will be used to increase the budgets of the antitrust division at Justice and the Federal Trade Commission
+9	Michael Grobstein , 46 years old , was named vice chairman for planning , marketing and industry services , a new post	Mr. Grobstein had been a vice chairman of Ernst & Whinney , an accounting firm that merged with rival Arthur Young in July to form Ernst & Young , a major accounting , tax and management consulting firm
+5	Mr. Grobstein had been a vice chairman of Ernst & Whinney , an accounting firm that merged with rival Arthur Young in July to form Ernst & Young , a major accounting , tax and management consulting firm	Mr. Grobstein 's appointment formalizes a role he has been performing since the merger
+1	he will be urging his allies to boost their stakes in Navigation Mixte At the same time , he is expected to seek legal and regulatory means of blocking or delaying Paribas 's bid	For the moment he has decided against seeking a white knight or organizing a counterbid for Paribas
+5	the exceptional gain would mean nearly twice as high a dividend this year as last	If holders avoid tendering to Paribas they can expect strong dividends again next year
+5	Without some unexpected `` coup de theatre '' , I do n't see what will block the Paribas bid	Mr. Fournier 's biggest hope was to somehow persuade regulatory authorities to block the bid
+2	Mr. Fournier 's biggest hope was to somehow persuade regulatory authorities to block the bid	Paribas still needs the go-ahead from the Commission des Operations de Bourse , a government regulatory agency
+1	it now holds just under 5 % of Paribas 's shares	Once he realized that Paribas 's intentions were n't friendly but before the bid was launched , he sought approval to boost his Paribas stake above 10 %
+8	One big question now is the likely role of Mr. Fournier 's allies	Mr. Fournier said the large institutions that hold nearly 50 % of Navigation Mixte 's capital all strongly support him , but some analysts said they are n't so sure
+8	it will offer 1,850 francs ( $ 296.95 ) each for Navigation Mixte shares that enjoy full dividend rights , and 1,800 francs each for a block of shares issued July 1 , which will receive only partial dividends this year.Alternatively , it is to offer three Paribas shares for one Navigation Mixte share	The Paribas offer values Navigation Mixte at about 23 billion francs , depending on how many of Navigation Mixte 's warrants are converted into shares during the takeover battle
+4	The zero-coupon subordinated notes have no periodic interest payments	Each note is being offered at $ 308.32 per $ 1,000 principal amount at maturity , representing an 8 % yield to maturity
+6	In addition , corporations are now shouldering a bigger share of the tax burden	Corporate taxes paid for almost 12 % of federal spending in 1988 -- excluding Social Security -- compared with less than 8 % in the first half of the 1980s
+8	Tax reform is working	Under the new tax-reform law , the days of widespread , wholesale corporate tax avoidance have come to an end
+3	Tax reform is working	Under the new tax-reform law , the days of widespread , wholesale corporate tax avoidance have come to an end
+8	But even though companies are paying more taxes , many are still paying less than the statutory rate And 45 companies paid effective tax rates of below 10 % of their income	While the overall picture is very encouraging , significant corporate tax avoidance continues
+6	that -- unlike manufacturing -- retailing is extremely sensitive to local cultures and life styles	the Europeans and Canadians stumble in the U.S. market
+3	that -- unlike manufacturing -- retailing is extremely sensitive to local cultures and life styles	the Europeans and Canadians stumble in the U.S. market
+8	Japanese department stores are also wary of attracting negative publicity	After Sony Corp. 's recent headline-grabbing acquisition of Columbia Pictures , many say it makes good political sense to lie low
+8	After Sony Corp. 's recent headline-grabbing acquisition of Columbia Pictures it makes good political sense to lie low	It 's a question of timing
+2	Still , for those with a long-term eye on the vast U.S. retail market , this is a tempting time to look for bargains	Britain 's B.A.T Industries PLC is trying to unwind its U.S. retailing operations , which include such well-known stores as Saks Fifth Avenue , Marshall Field 's , Breuners and Ivey 's
+6	Still , for those with a long-term eye on the vast U.S. retail market , this is a tempting time to look for bargains	Britain 's B.A.T Industries PLC is trying to unwind its U.S. retailing operations , which include such well-known stores as Saks Fifth Avenue , Marshall Field 's , Breuners and Ivey 's
+8	Nor is Tokyu the only Japanese retailer interested in Bloomingdale 's	Seven Japanese department-store groups were approached by investment bankers representing Bloomingdale 's chairman , Marvin Traub , and more than half are seeking additional information on the group
+2	Federated ran into a cash crunch after it was acquired last year by Campeau	that Federated decided to sell off the jewels of its retailing empire , including Bloomingdale 's
+8	him find partners for a management-led buy-out	Ideally he wants to get backing from a Japanese department store and a European department store to forge a global retailing network
+2	Ideally he wants to get backing from a Japanese department store and a European department store to forge a global retailing network	When you look at the economics , Traub needs a Japanese and a European partner to make it work
+8	When you look at the economics , Traub needs a Japanese and a European partner to make it work	Looking only at a narrow American strategy is n't where it 's at
+2	Persuading tradition-bound Japanese retailers to get involved in the turmoils of the U.S. retailing industry is n't likely to be so easy	Up until now , most stores have followed the same basic overseas strategy : First they set up overseas merchandising offices to import items and track new fashion trends.Then they opened small gift shops mostly aimed at Japanese tourists
+6	Reluctant to advance further on their own , some stores have settled for tie-ups with famous specialty shops	Last March , Isetan invested 1.5 billion yen ( $ 10.6 million ) in a venture with Barney 's Inc. , an up-scale New York specialty clothier
+5	Last March , Isetan invested 1.5 billion yen ( $ 10.6 million ) in a venture with Barney 's Inc. , an up-scale New York specialty clothier	The first Barney 's shop is scheduled to open in Japan next year
+5	And Mitsukoshi recently increased its equity stake in Tiffany & Co. to 13 %	Through the longstanding relationship between the two companies , Mitsukoshi has opened 22 Tiffany shops in its stores and arcades in Japan
+5	Through the longstanding relationship between the two companies , Mitsukoshi has opened 22 Tiffany shops in its stores and arcades in Japan	Plans are under way to open a Tiffany 's in Hawaii to cater to Japanese tourists
+5	that Mitsukoshi 's classy image makes it a possible match for Saks Fifth Avenue	they are studying various proposals
+5	Takashimaya Co. , Japan 's oldest department store , is another name that keeps popping up as a potential fit with Saks	that his company 's image is similar to Saks 's and that there is some interest in the idea
+8	But he stops there	We 'd like to do business in America , '' he says . `` But it looks tough
+8	Catholics had responded generously to an appeal last year to give more money after 1987 's record $ 63 million deficit	a 5 % jump in the `` Peter 's Pence '' collection -- the annual offering from Catholics to the pope -- helped cover the deficit
+8	Former President Richard Nixon is to visit China at the invitation of the government beginning Saturday	According to Mr. Nixon 's office , `` This is solely a fact-finding trip
+8	According to Mr. Nixon 's office , `` This is solely a fact-finding trip	There will be no sightseeing , no shopping and no social events
+8	According to Mr. Nixon 's office , `` This is solely a fact-finding trip There will be no sightseeing , no shopping and no social events	the former president `` expects to have one-on-one discussions with the major Chinese leaders
+8	that the Dutch appear to be the strongest supporters of the alliance	81 % of Dutch people supported NATO
+10	81 % of Dutch people supported NATO	Canada was the second most pro-NATO country with 78 % supporting the alliance , followed by the U.S. with 75 % , Britain with 71 % , Belgium with 69 % and West Germany with 63 %
+1	81 % of Dutch people supported NATO	Canada was the second most pro-NATO country with 78 % supporting the alliance , followed by the U.S. with 75 % , Britain with 71 % , Belgium with 69 % and West Germany with 63 %
+7	81 % of Dutch people supported NATO . Canada was the second most pro-NATO country with 78 % supporting the alliance , followed by the U.S. with 75 % , Britain with 71 % , Belgium with 69 % and West Germany with 63 %	All other countries registered support below 50 %
+1	81 % of Dutch people supported NATO . Canada was the second most pro-NATO country with 78 % supporting the alliance , followed by the U.S. with 75 % , Britain with 71 % , Belgium with 69 % and West Germany with 63 %	All other countries registered support below 50 %
+8	The Israeli Manufacturers ' Association filed a police complaint against an Arab pasta maker for using the four colors of the outlawed Palestinian flag on spaghetti packages	We asked police to investigate why they are allowed to distribute the flag in this way
+2	We asked police to investigate why they are allowed to distribute the flag in this way	It should be considered against the law
+5	Akio Tanii , president of Japan 's Matsushita Electric Industrial Co. , presented the U.S. consul general in Osaka with a $ 1 million check to help San Francisco 's earthquake victims	The company 's U.S. subsidiary , Matsushita Electric Corp. of America , had donated over $ 35,000 worth of Matsushita-made flashlights and batteries to residents shortly after the disaster
+5	Akio Tanii , president of Japan 's Matsushita Electric Industrial Co. , presented the U.S. consul general in Osaka with a $ 1 million check to help San Francisco 's earthquake victims.The company 's U.S. subsidiary , Matsushita Electric Corp. of America , had donated over $ 35,000 worth of Matsushita-made flashlights and batteries to residents shortly after the disaster	Several other Japanese companies and regional governments have sent aid to San Francisco
+6	Several other Japanese companies and regional governments have sent aid to San Francisco	Sumitomo Bank donated $ 500,000 , Tokyo prefecture $ 15,000 and the city of Osaka $ 10,000
+8	What 's more some Chinese exporters from state-run enterprises are protesting the crackdown by dragging their feet on soliciting new business	They are angry about the government . . . so they hold back the goods
+1	The Dow Jones Industrial Average tumbled 39.55 points , to 2613.73 , in active trading	Long-term Treasury bonds ended slightly higher
+5	Long-term Treasury bonds ended slightly higher	The dollar rose modestly against the mark and the yen
+8	but the effect hit home particularly hard yesterday	Compaq Computer nose-dived $ 8.625 a share , to $ 100 , and pulled other technology issues lower after reporting lower-than-expected earnings after the stock market closed Wednesday
+9	Compaq Computer nose-dived $ 8.625 a share , to $ 100 , and pulled other technology issues lower after reporting lower-than-expected earnings after the stock market closed Wednesday	Later yesterday the nation 's major auto makers added to the gloom when they each reported their core auto operations were net losers in the third quarter
+2	There are a lot more downward revisions of earnings forecasts than upward revisions	People are questioning corporate profits as a pillar of support for the equity market
+2	The bond market was unmoved by the economic statistics	While bond investors would have preferred growth to be a little slower , they were cheered by inflation measures in the data that showed prices rising at a modest annual rate of 2.9 %
+2	they were cheered by inflation measures in the data that showed prices rising at a modest annual rate of 2.9 %	That is another small encouragement for the Federal Reserve to lower interest rates in coming weeks
+10	Stock prices fell sharply in active trading	Volume on the New York Stock Exchange totaled 175.2 million shares
+5	Volume on the New York Stock Exchange totaled 175.2 million shares	Declining issues on the Big Board outstripped gainers 1,141 to 406
+6	Bond prices were barely higher	The Treasury 's benchmark 30-year rose fractionally
+5	The Treasury 's benchmark 30-year rose fractionally	Yield on the issue was 7.88 %
+8	The dollar rose modestly against most major currencies	In late New York trading the dollar was at 1.8400 marks and 142.10 yen compared with 1.8353 marks and 141.52 yen Wednesday
+5	In late New York trading the dollar was at 1.8400 marks and 142.10 yen compared with 1.8353 marks and 141.52 yen Wednesday	The dollar soared against the pound , which was at $ 1.5765 compared with $ 1.6145 Wednesday
+2	as a more realistic path to expediting compensation first authorized in 1988	The only way to reduce the costs is to say we do n't want to pay the bill
+8	who taunted President Bush 's party to back up his campaign promise of supporting the claims of $ 20,000 per individual	Read my lips , '' said Mr. Smith . `` If you 're for paying the claims . . . I do n't know how anyone can oppose this
+8	The issue has assumed some of the character of past civil-rights debates and reopens old regional divisions in the Democratic majority	As much as Republicans led the opposition , among the 53 Democrats voting against treating the payments as an entitlement , 42 came from the 13 states in the Old Dixiecrat South and its borders
+5	The estimated $ 40 million from the new pre-merger notification fee would be divided between the Justice Department 's Antitrust Division and the Federal Trade Commission	The Federal Bureau of Investigation is slated to receive $ 30 million by charging for fingerprint services in civil cases
+5	which said it had a loss in its U.S. automotive business for the first time since 1982	Ford predicted fourth-quarter net income will fall below the year-earlier level , partly because of a likely $ 500 million charge from the sale of its steel operations
+2	Yesterday 's announcements helped spark a midday wave of program selling in the stock market	GM 's common closed at $ 44.375 a share , down 50 cents , Ford fell 37.5 cents to end at $ 47.50 , and Chrysler eased 37.5 cents to $ 22.25 , all in New York Stock Exchange composite trading
+5	As Japanese auto makers gained market share , the Big Three , with GM in the lead , slashed North American production and launched a retail discounting blitz	The price war peaked in the third quarter as Big Three factory discounts climbed to more than $ 1,000 a vehicle , according to industry officials
+1	GM probably had the `` heaviest incentives	We all did what we had to do to stay within sight of them
+5	and domestic car sales have plunged 19 % since the Big Three ended many of their programs Sept. 30	GM , Ford and Chrysler have already cut fourth-quarter U.S. output plans an estimated 15 % from 1988 levels
+5	GM , Ford and Chrysler have already cut fourth-quarter U.S. output plans an estimated 15 % from 1988 levels	If sales do n't pick up , the cuts will go deeper and incentives will sprout again
+8	Nearly all the decline came in Ford 's U.S. automotive operations	The Dearborn , Mich. , auto maker ran a loss of $ 37 million on assembling and marketing cars in the U.S. , a deterioration of $ 378 million in that line from the 1988 quarter
+1	A year earlier , Ford reported record net of $ 856.3 million , or $ 1.78 a share , on revenue of $ 20.38 billion	In the latest nine months , Ford earned $ 3.52 billion , or $ 7.51 a share , compared with $ 4.14 billion , or $ 8.53 a share
+1	Its $ 309 million , or $ 1.32 a share , gain from the sale of 75 million Mitsubishi shares made net $ 331 million , or $ 1.42 a share	Sales were flat at $ 7.88 billion
+10	Its $ 309 million , or $ 1.32 a share , gain from the sale of 75 million Mitsubishi shares made net $ 331 million , or $ 1.42 a share	Sales were flat at $ 7.88 billion
+1	costs of incentives caused a `` moderate '' loss in the Highland Park , Mich. , company 's North American car and truck business	the loss was n't `` that much different '' from Ford 's $ 37 million loss on U.S. automotive operations
+2	Chrysler `` is no longer sure '' of its forecast for industry car and truck sales of 14.2 million in the 1990 model year	Consumers are balking at higher prices on 1990 cars
+5	In the nine months , net was $ 1.02 billion , or $ 4.38 a share , including the gain from the Mitsubishi stock sale , compared with $ 617 million , or $ 2.77 a share , after a charge of $ 93 million , or 42 cents a share , for plant closings in the 1988 period	Sales rose 8.4 % to $ 27.95 billion from $ 25.78 billion
+6	But GM 's results also illustrate the increasing diversity of its operations	In one breakdown , GM attributed half of its net to its two big technology units , Electronic Data Systems Corp. and GM Hughes Electronics Corp
+1	even though net for the first nine months was up 1.9 % to $ 3.52 billion on revenue of $ 95.57 billion	It earned $ 3.46 billion on revenue of $ 91.21 billion in the 1988 nine months
+8	There are two versions of `` Measure for Measure '' on stage at the Alley Theater here	One is a strong , vigorous portrayal of Shakespeare 's play ; the other is director Gregory Boyd 's overlay of present-day punk rock decadence on old Vienna
+1	One is a strong , vigorous portrayal of Shakespeare 's play	the other is director Gregory Boyd 's overlay of present-day punk rock decadence on old Vienna
+5	Measure for Measure '' is one of Shakespeare 's `` problem '' plays , so named because it does not fit neatly into a category such as tragedy , comedy or history	Its ambiguity and uneasy mixture of the serious and the comic is no doubt one reason why it is very much in vogue with directors just now
+9	and turns over the rule of the city to the puritanical Angelo	When Angelo hears that the young man Claudio has made his fiancee pregnant before he could marry her , Angelo summarily condemns Claudio to death
+5	featuring a rectangular platform of white-washed boards that extends into the audience	When the action requires , a prison cell , consisting of an enlarged wire cage , rolls forward on iron wheels on the platform
+8	In the play 's major scenes Mr. Boyd demonstrates that he has a firm grasp of the Shakespearean dynamic	When Isabella ( Ellen Lauren ) confronts her brother Claudio ( Matt Loney ) in his cell , explaining the price she has been asked to secure his freedom ; when Isabella and the disguised Duke ( Philip Kerr ) conspire to trick Angelo ; and when Mariana ( Annalee Jefferies ) , a woman wronged by Angelo , confronts him with his past misdeeds , the performers bring the dramatic high points to life with intense energy and intelligence
+1	Mr. Boyd is of the directorial school that believes one must find modern parallels or metaphors to make Shakespeare accessible to today 's audiences	but it puts a heavy burden on the director to show an uncommon degree of imagination and taste
+5	In his `` Measure , '' Mr. Boyd has `` modernized '' the pimps and prostitutes of Vienna whom Angelo is supposed to bring under control by converting them into transvestites , punk rockers and heavy metal types , with a strong emphasis on leather , chains and porno-inspired costumes	Loud rock music accompanies all the scene changes , even those in the convent
+5	When Claudio is arrested , he is brought on stage nude except for the manacles on his wrists and ankles	When the opportunist Lucio ( Jack Stehlin ) visits the convent to inform Isabella of her brother 's fate , Lucio not only slaps the mother superior on her rear , but brings along a voluptuous companion ( Jill Powell ) , not in Shakespeare 's script , to undulate lasciviously
+8	What 's more , it represents an important step for the Alley Theater	Measure for Measure '' is Mr. Boyd 's first directorial assignment as the theater 's new artistic director He succeeded Pat Brown , who was fired by the Alley board 18 months ago.Her dismissal angered many in the regional theater establishment and led Peter Zeisler , head of Theatre Communications Group , to write an editorial in American Theatre magazine condemning the board.None of this backlash could change the fact that Ms. Brown 's regime was remarkably undistinguished and unimaginative
+5	who was fired by the Alley board 18 months ago	Her dismissal angered many in the regional theater establishment and led Peter Zeisler , head of Theatre Communications Group , to write an editorial in American Theatre magazine condemning the board
+8	Now the Alley has moved ahead on both artistic and financial fronts	Not only is Mr. Boyd giving the theater a new sense of adventure and excitement on stage , the balance sheet is the best the theater has had in 10 years
+8	the balance sheet is the best the theater has had in 10 years	As opposed to the $ 1.4 million deficit of the 1987-88 season , the 1988-89 year concluded with a $ 200,000 surplus and a $ 500,000 cash reserve
+8	The 60-vote requirement will be there and they do n't have the 60 votes	They do n't have the votes to get it passed
+8	Sen. Bob Packwood ( R. , Ore. ) , the leading Republican proponent of the tax cut , did n't disagree	I 'm not sure what 's going to happen , '' he said
+1	Sen. Packwood has offered his capital-gains-cut package as an amendment to a bill that would authorize aid to Poland and Hungary	Democrats are holding up a vote on the amendment by threatening a filibuster , or extended debate
+8	The Republicans show no sign of relenting	GOP leaders continued to press for a vote on the amendment to the Eastern Europe aid measure
+8	This is serious business	we 're serious about a capital-gains reduction
+5	The Republicans contend that they can garner a majority in the 100-member Senate for a capital-gains tax cut	They accuse the Democrats of unfairly using Senate rules to erect a 60-vote hurdle
+1	They accuse the Democrats of unfairly using Senate rules to erect a 60-vote hurdle	Democrats counter that the Republicans have often used the same rules to suit their own ends
+8	The two sides also traded accusations about the cost of the Packwood plan	Democrats asserted that the proposal , which also would create a new type of individual retirement account , was fraught with budget gimmickry that would lose billions of dollars in the long run.Republicans countered that long-range revenue estimates were unreliable
+1	Democrats asserted that the proposal , which also would create a new type of individual retirement account , was fraught with budget gimmickry that would lose billions of dollars in the long run	Republicans countered that long-range revenue estimates were unreliable
+5	Under the proposed combination , Marsh & McLennan would gain a majority stake in Gradmann & Holler that would increase over time to the rest of the remaining 85 %	The three managing general partners would receive a `` significant '' number of Marsh & McLennan shares
+0	As part of the move , its affiliated U.S. company , International Components Technology Corp. , purchased a Mexican plant formerly belonging to KSI Disc Products Inc	The price was n't disclosed
+5	Together with two existing plants in the U.S. it will expand its current local monthly production of memory disks to 1.4 million sheets from 800,000	In Japan it will raise production at a plant outside Tokyo to 300,000 sheets monthly from 100,000
+2	PRIMERICA Corp. , New York , raised its quarterly 14 % to eight cents a share , from seven cents , payable Nov. 24 to stock of record Nov. 6	its `` continued confidence in the ongoing strength of the operations
+10	net jumped to $ 87 million , or $ 2.02 a share , from $ 58 million , or $ 1.40 a share , a year earlier	Sales increased 36 % to $ 683 million from $ 502 million
+5	net jumped to $ 87 million , or $ 2.02 a share , from $ 58 million , or $ 1.40 a share , a year earlier	Sales increased 36 % to $ 683 million from $ 502 million
+10	Net for the nine months was $ 254 million , or $ 5.94 a share , up 56 % from $ 163 million , or $ 4.06 a share , a year earlier	Sales rose 50 % to $ 2.1 billion from $ 1.4 billion
+5	Net for the nine months was $ 254 million , or $ 5.94 a share , up 56 % from $ 163 million , or $ 4.06 a share , a year earlier	Sales rose 50 % to $ 2.1 billion from $ 1.4 billion
+2	which will be used for international service and repair operations	the new space will allow Compaq to increase the manufacturing capacity of its plant in Erskine , Scotland
+0	who is retiring	Mr. Kilpatrick will remain a director
+5	it will build a $ 40 million plant for producing granular activated carbon	it will select the plant site early next year
+8	Michael Deaver , the former White House aide , has become the most recent addition to the teeming ranks of fallen politicians and officials earning their way as lobbyists and consultants here	Mr. Deaver has reopened a public-relations business
+2	people are slightly dulled by scandal	It now takes something really weird to inspire public outrage
+8	But many have	These people bounce back more resiliently than regular people
+8	For there is an emerging protocol -- indeed , an etiquette -- to it	Among the rules
+1	There are few mementos of his days as White House deputy chief of staff and confidant of Ronald and Nancy Reagan	The former $ 3 million-a-year lobbyist now frequents shelters for the homeless and devotes a third of his time counseling other recovering alcoholics
+2	The former $ 3 million-a-year lobbyist now frequents shelters for the homeless and devotes a third of his time counseling other recovering alcoholics	I feel better than I ever have in my life
+8	an appearance on ABC 's `` Nightline '' for a show on pack journalism	Host Ted Koppel introduced him as `` the media master of the Reagan Administration , '' with nary a mention of Mr. Deaver 's conviction in 1987 on perjury charges
+8	But it does n't always work so smoothly	After allegations surfaced in a 1985 divorce contest that he had beaten his wife , SEC enforcement chief John Fedders retreated to a Trappist monastery in rural Virginia.He is now in solo law practice in Washington , but his fees have been meager and he failed in efforts to win a chunk of his ex-wife 's royalties on her tell-all book
+1	He is now in solo law practice in Washington	From time to time he returns to the monastery for prayer , meditation and pro bono legal work
+8	Mr. Fedders is philosophical about his travails	This whole experience has been an opportunity for internal growth , '' he says
+8	The word surrender has a precise psychoanalytic meaning	My universe has changed
+8	Nobody proved that more masterfully than Mr. Coelho , the former Democratic majority whip	he resigned almost immediately after media reports questioned the propriety of a 1986 junk-bond investment , before any official investigations took hold
+10	Among the glitterati who turned out in bipartisan black-tie force to benefit the Coelho Epilepsy Fund last month were Sen. Robert Dole , Rep. Newt Gingrich , and other kingpins of Congress	Dan Rather served as emcee
+5	Among the glitterati who turned out in bipartisan black-tie force to benefit the Coelho Epilepsy Fund last month were Sen. Robert Dole , Rep. Newt Gingrich , and other kingpins of Congress	Dan Rather served as emcee
+6	Male scandal victims invariably fare better	Anne Burford , the former EPA chief who resigned under fire in 1983 during a flap with Congress , was kayoed in the confrontation , even though she was never charged with official wrondgoing
+9	Anne Burford , the former EPA chief who resigned under fire in 1983 during a flap with Congress , was kayoed in the confrontation	She worked part-time as a consultant and wrote a book
+5	but never restarted her high-powered legal career	It did n't help when , in 1986 , she was charged ( and then cleared ) on allegations of public drunkenness
+5	Another former EPA official , Rita Lavelle , is still struggling after her conviction in 1983 on perjury charges	There 's nothing she could do to bring herself back to where she was
+8	There 's nothing she could do to bring herself back to where she was	You could say she survived , but it was n't easy on her
+5	Anne Burford , the former EPA chief who resigned under fire in 1983 during a flap with Congress , was kayoed in the confrontation Another former EPA official , Rita Lavelle , is still struggling after her conviction in 1983 on perjury charges No book contracts have been dangled before Deborah Gore Dean , the reigning queen of the HUD scandal	Donna Rice of Gary Hart fame failed to obtain a book contract and lost her modeling contract for `` No Excuses '' jeans
+5	Anne Burford , the former EPA chief who resigned under fire in 1983 during a flap with Congress , was kayoed in the confrontation Another former EPA official , Rita Lavelle , is still struggling after her conviction in 1983 on perjury charges No book contracts have been dangled before Deborah Gore Dean , the reigning queen of the HUD scandal.Donna Rice of Gary Hart fame failed to obtain a book contract and lost her modeling contract for `` No Excuses '' jeans	Fawn Hall , Oliver North 's former secretary , has yet to launch a hoped-for television news career , according to her lawyer
+1	although with roles in such movies as `` Zombie Island Massacre '' and `` Aunt Ida 's Bikini Shop , '' she is doing a lot better than her former husband	He was back in jail over the summer on shoplifting charges
+8	Central figures -- such as Richard Nixon -- usually fare better than those with supporting roles	Richard Secord , the retired Air Force general felled in the Iran-Contra scandal , is all but ruined
+1	During the televised Iran-Contra hearings , Mr. North came off as a patriot from central casting	Mr. Secord 's performance was decidedly less inspiring
+8	Mr. North remains in heavy demand as a speaker , for fees reported in the $ 20,000 range	Even in the wake of Hurricane Hugo 750 people turned out in a remote Virginia town in September for a `` family tribute '' to Mr. North given by two dozen conservative members of Congress
+2	and one of the worst sins in Washington is to be laughed at	You can be wicked , but not foolish
+2	Former Rep. Robert Bauman , a Maryland Republican who lost his seat in 1980 after he was caught soliciting sex from a 16-year-old boy , has never regained his professional footing as a lawyer	he was deserted by the right wing
+8	he was deserted by the right wing	Conservatives shoot their own
+6	If the political establishment is reluctant to forgive sexual misadventures , the private sector sometimes will	John Tower was accused of womanizing and boozing during his unsuccessful bid to win confirmation as secretary of defense earlier this year.Now he is writing a book , serving on an elite foreign policy advisory board and consulting for an array of corporate clients , including British publishing mogul Robert Maxwell
+6	When all else fails , Gucci Gulch -- the fabled halls of the Capitol inhabited by lobbyists and their imported shoes -- offers a welcome environment for fallen officials	Former Rep. Fernand St Germain , brought down by the savings-and-loan crisis , now represents -- you guessed it -- savings-and-loans associations
+6	Some become pseudo-lobbyists	John Mack promptly quit his job last spring as an aide to Speaker Wright amid public outrage over Mr. Mack 's violent attack on a young woman when he was 19 years old.After a few weeks in seclusion , Mr. Mack opened a consulting firm , but not to enable him to directly lobby ; that would require him to disclose his clients by registering as a lobbyist.Still , Mr. Mack says he talks to `` 30 members of Congress a week
+9	John Mack promptly quit his job last spring as an aide to Speaker Wright amid public outrage over Mr. Mack 's violent attack on a young woman when he was 19 years old	After a few weeks in seclusion , Mr. Mack opened a consulting firm
+2	but not to enable him to directly lobby	that would require him to disclose his clients by registering as a lobbyist
+6	Other scandal survivors are sometimes the best source of solace	Raymond Donovan , the New Jersey construction executive who was forced to resign as labor secretary and indicted in 1985 , only to be acquitted of fraud charges , often calls other scandal-tossed public figures to offer a sympathetic ear
+2	Raymond Donovan , the New Jersey construction executive who was forced to resign as labor secretary and indicted in 1985 , only to be acquitted of fraud charges , often calls other scandal-tossed public figures to offer a sympathetic ear	Each time a new scandal hits it pulls the scabs off your knees
+6	Some Canadian political commentators have opposed Canada 's joining what they see as a U.S.-dominated organization	Canada could do plenty of things to get serious about Latin America without running the risk of getting caught in the cross fire '' between the U.S. and Latin American members of the OAS , said Jeffrey Simpson , a columnist in Toronto 's Globe & Mail newspaper
+8	if its United Nations voting record is an indication	In U.N. General Assembly votes last year , Canada voted the same as the U.S. only 63 % of the time
+1	In U.N. General Assembly votes last year , Canada voted the same as the U.S. only 63 % of the time	France voted the same as the U.S. 76 % of the time , West Germany 79 % and Britain 83 %
+2	that Latin American countries would be `` profoundly disappointed '' if Canada were to follow the U.S. lead in the OAS	Latin Americans see Canada as a non-interventionist power that respects their sovereignty
+5	The OAS is attempting to find a settlement of the current Panama political crisis	but the organization 's members are discussing Cuba 's reinstatement
+1	modern comedies contain violence , sex and foul language to any greater degree than other recent movies	Older movies have plenty of violence , though it is portrayed in keeping with the more restrictive social conventions of the time
+6	Similarly , one of the most popular comedy genres of the 1930s and '40s was the `` murder mystery/ comedy	The `` Thin Man '' series of movies , as well as many others , based their entire comedic appeal on the star detectives ' witty quips and puns as other characters in the movies were murdered
+2	Further , I think Mr. Knight made a poor choice in picking `` A Fish Called Wanda '' as an example of the deplorable state of modern comedy movies	The specific scene he mentions in which pet dogs are crushed is somewhat reminiscent of the continual plights that befall the coyote in the old Warner Bros. `` Road Runner '' cartoons
+5	The specific scene he mentions in which pet dogs are crushed is somewhat reminiscent of the continual plights that befall the coyote in the old Warner Bros. `` Road Runner '' cartoons	There is no slow-motion close-up , blood-and-guts portrayal of the animal 's demise
+5	The specific scene he mentions in which pet dogs are crushed is somewhat reminiscent of the continual plights that befall the coyote in the old Warner Bros. `` Road Runner '' cartoons.There is no slow-motion close-up , blood-and-guts portrayal of the animal 's demise	Keep in mind that this is the same movie in which a character is flattened by a steamroller only to pop right back up and peer in the window of a Boeing 747 -- from the outside -- as it takes off
+8	that there is much to be found wrong with modern movie making	Many modern scriptwriters seem to be incapable of writing drama , or anything else , without foul-mouthed cursing
+5	Many modern scriptwriters seem to be incapable of writing drama , or anything else , without foul-mouthed cursing	Sex and violence are routinely included even when they are irrelevant to the script
+9	that most of the improvement occurred in the second half of last year	since February of this year , unemployment has been steady at around 6.2 % of the labor force
+9	its board has approved a 1-for-10 reverse stock split	it wants shareholders to approve the split
+8	shareholders to approve the split because it would `` enhance the marketability '' and trading of the stock	If approved at a shareholder meeting in December , the number of shares outstanding would decrease to five million from 50 million , and par value would rise to 10 cents from a penny
+10	Manufacturers ' shipments rose 0.3 % in August following two months of declines	Inventories fell 0.3 % in August
+5	Manufacturers ' shipments rose 0.3 % in August following two months of declines	Inventories fell 0.3 % in August
+1	Burmah described the joint venture as `` fairly small	It did n't provide details of setup costs
+5	Du Pont , unlike companies hurt badly by sharp price declines for basic chemicals and plastics , is benefiting from its broad range of businesses	The profit gain was made despite a weakening in the housing market , for which the company is a supplier , and a strengthening in the dollar , which lowers the value of overseas earnings when they are translated into dollars
+1	The Wilmington , Del. , company reported net of $ 547 million , or $ 2.36 a share	In the year-earlier period , the company earned $ 461 million , or $ 1.91 a share
+2	that they intend to increase rewards to shareholders	We have n't benefited the shareholder as much as we need to , '' said Edgar Woolard Jr. , Du Pont 's chairman and chief executive officer , in an interview several months before he entered his current position in April
+8	The largest beneficiary will be Seagram Co	the company will post additional pretax profit of about $ 33 million a year because of the additional Du Pont dividends
+2	the company will post additional pretax profit of about $ 33 million a year because of the additional Du Pont dividends Du Pont also announced plans for a 3-for-1 stock split	Du Pont 's stock rose $ 2.50 a share to close at $ 117.375 in New York Stock Exchange composite trading yesterday
+10	Du Pont 's stock rose $ 2.50 a share to close at $ 117.375 in New York Stock Exchange composite trading yesterday	Seagram closed at $ 84.75 , up 12.5 cents a share in Big Board trading
+1	Du Pont 's stock rose $ 2.50 a share to close at $ 117.375 in New York Stock Exchange composite trading yesterday	Seagram closed at $ 84.75 , up 12.5 cents a share in Big Board trading
+2	Leading the gains for Du Pont in the latest quarter was its industrial products segment	The company benefited from continued strong demand and higher selling prices for titanium dioxide , a white pigment used in paints , paper and plastics
+5	Du Pont still holds an edge in making the pigment because the company was `` first in with the technology '' to lower costs	Du Pont holds about 23 % of the world-wide market , the largest single share , at a time when growing uses for the pigment have kept it in tight supply , although others are now adding low-cost production capacity
+8	In the diversifed businesses segment , which includes herbicides , profit grew to $ 64 million from $ 27 million	thus increasing sales in the third quarter
+2	In the diversifed businesses segment , which includes herbicides , profit grew to $ 64 million from $ 27 million	thus increasing sales in the third quarter
+8	Two segments posted lower earnings for the quarter	Profit from coal fell to $ 41 million from $ 58 million , partly because of a miners ' strike
+5	The increased dividend will be paid Dec. 14 to holders of record Nov. 15	The stock split , which is subject to holder approval , would be paid on a still unspecified date in January to holders of record Dec. 21
+2	American Medical International Inc. was dropped from the health care providers industry group of the Dow Jones Equity Market Index	The company is being acquired
+8	French President Francois Mitterrand , European Community Commission President Jacques Delors , Spanish Prime Minister Felipe Gonzalez and others have begun linking the rapid changes in the East to the need to speed up changes in the West	They are stressing that the best way for the West to help the East is to move faster towards Western European economic and monetary unity
+2	The only response to the challenge being presented to us by the East is to reinforce and accelerate the union and cohesion of the European Community	Mr. Mitterrand proposed that a conference be convened next fall to write a new treaty for the EC allowing a European central bank , and that the treaty be ratified by 1992
+2	that integrating 110 million Eastern Europeans with 320 million Western Europeans is primarily the task of Europeans , despite the U.S. 's obvious strategic and economic interest	The U.S. tends to look at Eastern Europe { not including the Soviet Union } as Europe looks at Latin America : important but far away.But for us in Western Europe , these are Europeans next door
+2	A reintegrated Europe implies big changes in 40-year-old military and economic policies	There is likely to be a natural division of labor with the U.S. more engaged in strategic issues with the Soviet Union , and Western Europe more involved with specific aid measures for the East
+3	In part , this division is dictated by economics	West Germany is a net exporter of capital while the U.S. is n't
+5	West Germany is a net exporter of capital while the U.S. is n't	While American aid efforts have been limited by budget problems , yesterday France announced a three-year , four billion French franc ( $ 650 million ) aid plan for Poland
+8	We need a Western Ostpolitik	For Poland and Hungary we need to think about a stick-and-carrot economic approach that would force them to price things realistically in return for removing all our tariff barriers
+6	For Poland and Hungary we need to think about a stick-and-carrot economic approach that would force them to price things realistically in return for removing all our tariff barriers	that the Marshall Plan of U.S. aid to Europe `` did n't just throw money at post-war Europe , it also liberalized and opened up those markets
+8	The French analysis goes further	Most of the West 's leaders have finally concluded that we all want perestroika { Soviet leader Mikhail Gorbachev 's policy of economic restructuring } to succeed , '' says Hubert Vedrine , security adviser to Mr. Mitterrand . `` But they have n't yet drawn the operational policy conclusions He adds that with communism collapsing and Mr. Gorbachev scrambling to rejuvenate the Soviet economy , `` Our interest lies in a controlled transformation , a contained nuclear reaction , so we need to help him , and not just with words . '' Managing change , he adds , will require a lot more aid and a prominent role for the EC , especially in dealing with the question of German reunification Thierry de Montbrial , director of the French Institutue for International Relations in Paris , says it is n't clear what , exactly , West Germany wants.Any push for a Gorbachev vision of a `` common European home , '' implying the eventual dissolution of the EC , a Soviet-German partnership and the withdrawal of U.S. forces , `` would be a very , very serious problem , '' he says.He doubts a Bismarckian super state will emerge that would dominate Europe , but warns of `` a risk of profound change in the heart of the European Community from a Germany that is too strong , even if democratic He adds : `` We , and the rest of the EC have to talk to the Germans , now , frankly and raise these future risks with them
+8	so we need to help him , and not just with words	Managing change will require a lot more aid and a prominent role for the EC , especially in dealing with the question of German reunification
+0	Any push for a Gorbachev vision of a `` common European home , '' implying the eventual dissolution of the EC , a Soviet-German partnership and the withdrawal of U.S. forces , `` would be a very , very serious problem	a Bismarckian super state will emerge that would dominate Europe
+8	Mr. Roper in London sees a more positive scenario	There seems to be a message from Moscow there 's a deal on offer , '' he says . `` They want reassurance we wo n't try to undermine or destroy the Warsaw Pact . . . . In return , the U.K. and France could keep their nuclear weapons.He adds : `` Once both sides feel comfortable , it should be that much easier to make more progress toward the economic and social reforms that are now starting in the East
+8	there 's a deal on offer	They want reassurance we wo n't try to undermine or destroy the Warsaw Pact . . . . In return , the U.K. and France could keep their nuclear weapons
+2	There seems to be a message from Moscow there 's a deal on offer They want reassurance we wo n't try to undermine or destroy the Warsaw Pact . . . . In return , the U.K. and France could keep their nuclear weapons	Once both sides feel comfortable , it should be that much easier to make more progress toward the economic and social reforms that are now starting in the East
+8	The so-called poison pill took effect Aug. 9 pending ratification by holders	Rights attached to the company 's common shares were issued that are triggered if a hostile bidder acquires more than 20 % of the shares outstanding
+1	Separately , Dominion Textile posted net income of 4.7 million Canadian dollars ( $ 4 million ) , or 12 Canadian cents a share , for the fiscal-first quarter ended Sept. 30	The company had a net loss of C $ 2.3 million , or 14 Canadian cents a share , a year ago
+5	Separately , Dominion Textile posted net income of 4.7 million Canadian dollars ( $ 4 million ) , or 12 Canadian cents a share , for the fiscal-first quarter ended Sept. 30.The company had a net loss of C $ 2.3 million , or 14 Canadian cents a share , a year ago	Sales were C $ 348.2 million compared with C $ 307.2 a year earlier
+5	Howell , a Port Washington , N.Y. , construction concern , was established in 1891	It has three U.S. branches
+5	Mr. Schwarz , 52 years old , will succeed Daniel P. Davison Feb. 1	Mr. Schwarz , who is president of U.S. Trust , will be succeeded in that post by Jeffrey S. Maurer , 42
+10	Mr. Schwarz , 52 years old , will succeed Daniel P. Davison Feb. 1	Mr. Schwarz , who is president of U.S. Trust , will be succeeded in that post by Jeffrey S. Maurer , 42
+2	But Mr. Schwarz welcomes the competition in U.S. Trust 's flagship businesses	the competition `` broadens the base of opportunity for us
+5	the competition `` broadens the base of opportunity for us	Other firms `` are dealing with the masses
+2	Other firms `` are dealing with the masses	they have the culture '' to adequately service high-net-worth individuals
+1	but now we are looking for smaller accounts that will grow	Our bread and butter is still the $ 2 million to $ 20 million account
+1	Our bread and butter is still the $ 2 million to $ 20 million account	The new services allow U.S. Trust to cater to the `` new wealth
+1	In this year 's third quarter , for example , net was $ 10.5 million , or $ 1.05 a share , compared with $ 10.3 million , or $ 1.02 a share , a year earlier	Assets as of Sept. 30 fell to $ 2.46 billion from about $ 2.77 billion
+5	Mr. Schwarz 's great-grandfather founded the New York toy store F.A.O . Schwarz	Mr. Schwarz 's father was a U.S. Trust trustee until 1974
+5	It will include Messrs.Schwarz and Maurer	and will serve in the office of the chairman
+5	Donald M. Roberts , 54 , treasurer , and Frederick S. Wonham , 58 , who takes responsibility for the funds-service group , were named vice chairmen and will serve in the office of the chairman	Mr. Roberts continues as treasurer , and Mr. Wonham remains responsible for the offices of comptroller , planning , marketing and general services
+5	Mr. Rogers , 60 years old , succeeds J.V . White , 64	Mr. Rogers will retain his position as president
+5	they would acquire the assets for a combination of cash and the assumption of certain of Sharon 's liabilities	The balance of the company 's assets and liabilities would be transferred to a new company that would be owned by Sharon 's creditors
+1	the plan is expected to be filed within 60 days with the U.S. Bankruptcy Court in Pittsburgh	The agreement is subject to certain conditions , including obtaining financing
+5	Executives at Sharon declined to comment on the proposal	The company 's trustee , F.E . Agnew , was unavailable for comment
+8	In a move apparently aimed at heading off new punitive legislation , Mr. Deng sent an indirect signal to Washington via T.D . Lee , a Columbia University physicist who met Mr. Deng and other Chinese leaders in Beijing last month	When he met with Mr. Bush on his return he told the president that the Chinese `` made statements to me that I regard as a first step toward reconciliation
+8	The Chinese leader expressed some regret for what had happened in Beijing and conceded that China 's officials bore some responsibility	Mr. Deng told him : `` We should not mind those who participated in demonstrations , signed anti-government materials and went on hunger strikes
+5	Mr. Deng told him : `` We should not mind those who participated in demonstrations , signed anti-government materials and went on hunger strikes	Mr. Deng added that `` we really made mistakes.We must not shirk our responsibility and we can not just blame the demonstrators
+5	we really made mistakes	We must not shirk our responsibility
+3	But I was not acting as a messenger	that the Chinese never asked him to convey their statements to President Bush , but that the White House spontaneously invited him to do so
+0	He says that the Chinese never asked him to convey their statements to President Bush	Mr. Lee concedes the statements made to him are far different from others being issued in China
+8	According to U.S. sources in Beijing , the administration hopes Mr. Deng 's fairly conciliatory comments will prod Congress to be cautious about further sanctions against Beijing	The president does n't want to have legislative sanctions , '' says a U.S. official
+8	Given China 's far-from-conciliatory statements to its own people , Mr. Bush may be unable to prevent new sanctions	Beijing officials have said they will step up the campaign of arrests and intimidation against those who participated in the demonstrations
+5	Beijing officials have said they will step up the campaign of arrests and intimidation against those who participated in the demonstrations	Sentences have been stiff
+6	Sentences have been stiff	A university student got eight years for participating in the rallies while an 18-year-old worker got 10 years
+6	So far , the victims are officially considered evil-doers , and their families receive no compensation	A man gunned down by a stray bullet while cycling to work carries , after his death , the official stigma of `` counterrevolutionary
+8	What 's more , much of China 's official rhetoric is hostile to the U.S	China frequently lambastes the U.S. Embassy for harboring astrophysicist Fang Lizhi , a political dissident who took refuge there after the massacre
+5	It will probably be attached to a State Department authorization bill	they are likely to mirror those Mr. Bush enacted shortly after the massacre
+8	Codifying those sanctions could prompt Chinese retaliation	If the two sides are n't careful , U.S.-China ties could spin downward , out of control
+1	If the two sides are n't careful , U.S.-China ties could spin downward , out of control	Bush and Deng are hoping { that } cooler heads prevail
+10	A genetically engineered version of the human protein developed by Amgen Corp. of Thousand Oaks , Calif. , recently has been marketed by the Ortho Pharmaceuticals division of Johnson & Johnson	A competing version of EPO is being developed by Genetics Institute Inc. in Cambridge , Mass
+5	A genetically engineered version of the human protein developed by Amgen Corp. of Thousand Oaks , Calif. , recently has been marketed by the Ortho Pharmaceuticals division of Johnson & Johnson	A competing version of EPO is being developed by Genetics Institute Inc. in Cambridge , Mass
+5	The EPO-treated patients donated an average of 5.4 units of blood each compared with only 4.1 units donated by a similar group of surgical patients who received a placebo injection	The volume of red cells donated by the EPO-treated patients was 41 % higher per donor
+8	Pension reform was its main thrust	Labor and business leaders hailed its provisions for insuring corporate pension benefits
+1	Labor and business leaders hailed its provisions for insuring corporate pension benefits	IRAs were like stepchildren there
+8	The IRA 's conception is murky	In 1972 , then Treasury Secretary George Shultz , with the key support of Sen. Carl Curtis , sought some form of pensions for the uncovered.That year a four-man group headed by William Lieber in the Legislation and Regulations division of the Office of the Chief Counsel for the Internal Revenue Service , was assigned the task of designing a plan They used the 1962 Keogh Plan , a pension plan created by a New York congressman for the self-employed , as a partial model.This team initially called its new model Personal Retirement Account , or `` PRA . '' But it did n't sing.So they opted for IRA , naming it after Ira Cohen , a brilliant IRS actuary who helped them
+2	In 1972 , then Treasury Secretary George Shultz , with the key support of Sen. Carl Curtis , sought some form of pensions for the uncovered	That year a four-man group headed by William Lieber in the Legislation and Regulations division of the Office of the Chief Counsel for the Internal Revenue Service , was assigned the task of designing a plan
+5	So they opted for IRA , naming it after Ira Cohen , a brilliant IRS actuary who helped them	Ira , himself , confirms this account
+6	IRA rules have been changed over the years	One in 1981 raised to $ 2,000 a year from $ 1,500 the amount a person could put , tax-deductible , into the tax-deferred accounts and widened coverage to people under employer retirement plans
+8	The measure will create a two-tier exchange rate	Commercial transactions will continue to be based on the official rate of about 0.63 rubles to the dollar.But for Soviet citizens who travel abroad for business or tourism , the rate will jump to 6.26 rubles to the dollar
+5	The current ruble rate has long been out of line with the black market	As Soviet leader Mikhail Gorbachev has opened up the country to foreign trade , the discrepancy has become ever greater
+8	the discrepancy has become ever greater	Western tourists in the Soviet Union who could exchange a dollar -- albeit illegally -- for about four rubles a year ago are now being offered 15 rubles or more
+8	Even at such rates , black marketeers have been able to make big profits because of the dire shortage of consumer goods here	They use dollars to buy Western items such as video recorders and personal computers and then sell them at a huge mark-up
+6	and then sell them at a huge mark-up	The going rate for a small personal computer that costs about $ 2,000 in the West is anywhere from 50,000 to 100,000 rubles
+5	The going rate for a small personal computer that costs about $ 2,000 in the West is anywhere from 50,000 to 100,000 rubles	Even a pack of 20 Western cigarettes can fetch 20 rubles or more
+8	but the size of the cut took many Western bankers by surprise	It 's much bigger than we expected , '' said one German banker
+8	Unless other rules are changed , the devaluation could cause difficulties for the people it is primarily meant to help : Soviets who travel abroad	Over the past three years , thousands of people here have made use of looser travel restrictions to get their first taste of life abroad But under current rules , they are allowed to change just 200 rubles into dollars and other currencies for each trip.At the new rate , that would give them about $ 30 to travel on
+1	A Kodak spokesman declined to disclose the potential value of the contract	He said that American Telephone & Telegraph , MCI Communications Corp. , Rochester Telephone Corp. and IBM itself would likely be Digital 's subcontractors on the project
+2	it 's time to take a fresh look at the nation 's central bank	After 75 years there may be a few things that are worth reexamining
+6	The regional Federal Reserve Bank setup , for instance , may be out of date	In earlier years it may have seemed reasonable to give Richmond , Va. , a bank and allow Los Angeles only a branch of the San Francisco bank , but times have changed
+8	In earlier years it may have seemed reasonable to give Richmond , Va. , a bank and allow Los Angeles only a branch of the San Francisco bank , but times have changed	Maybe the whole regional system is an anachronism
+8	to restore an arrangement we once had -- or , at least , part of it	In the beginning , the treasury secretary and the comptroller of the currency were both ex officio members of the Federal Reserve Board.But in 1935 , when Congress was trying to find someone or something to blame for the Great Depression , it decided to drop both the secretary and the comptroller from the board Rep. Byron Dorgan ( D. , N.D. ) has introduced a bill in Congress , co-sponsored by Rep. Lee Hamilton ( D. , Ind . ) , that would put the treasury secretary back on the board
+8	Carter Glass , a former treasury secretary who was then back in Congress , probably influenced the decision	that when he was on the board he felt that he had a great deal of power and , somehow , he did n't think that was a good thing
+8	Times have changed	Rep. Byron Dorgan ( D. , N.D. ) has introduced a bill in Congress , co-sponsored by Rep. Lee Hamilton ( D. , Ind . ) , that would put the treasury secretary back on the board
+2	Nicholas Brady , the incumbent treasury secretary , is of course aware of the proposal , and he does n't like it much	Mr. Dorgen has changed tactics , dropping the seat-for-the-secretary idea
+8	He was , in fact , taking an especially keen interest in board matters even before he went to the treasury	After the October 1987 market crash , Mr. Brady as a private citizen headed a presidential commission that tried to decide what went wrong and what should be done about it.One of the commission 's recommendations was that a single agency , probably the Federal Reserve , should coordinate regulation of all financial markets
+2	but so far Federal Reserve Chairman Alan Greenspan has n't made a pitch for the job	The Fed has plenty of responsibilities in times of market turmoil and in 1987 and again in 1989 it appears to have handled them well
+1	The Fed has plenty of responsibilities in times of market turmoil and in 1987 and again in 1989 it appears to have handled them well	he thought government agencies in the latest market drop were better prepared to coordinate their actions
+1	In recent weeks , moreover , Mr. Brady has joined other administration officials in trying to urge the Fed toward lower interest rates	The urging admittedly has been gentle
+8	The urging admittedly has been gentle	In an interview with the Washington Post in early October , the secretary said the Fed may be slightly more interested in curbing inflation than the administration is , while the administration may put slightly more emphasis on spurring economic growth
+8	At least some economists , of course , would argue that inflation deserves a lot of emphasis	Earlier this month the St. Louis Fed held a conference to assess the system 's first 75 years.Allan Meltzer , a Carnegie-Mellon University economist , noted that the Fed 's record included the longest , most sustained , peacetime inflation in our history , dating from either 1966 or 1967 to 1989
+5	but to have any hope of success it needs help from the Fed	The central bank has been helping
+2	Now , sterilized intervention may have some effect	When traders see the Fed is in the exchange market it may make them tread a little carefully , for fear of what the central bank may do
+8	But it 's generally accepted that sterilized intervention has little or no lasting impact on currency values	After August the Fed may have stopped sterilizing , but it 's hard to see much impact on the dollar
+8	but it 's hard to see much impact on the dollar	The dollar is still highly volatile
+1	In fact , however , Mr. Reagan 's casual debasement of the office he so recently held raises issues about which Americans can actually do something	Our ability to influence the outcome of events in Eastern Europe and the Soviet Union is far more marginal
+8	Those events continue to move at a rate , and in a direction , which leave informed commentary -- let alone policy -- far in their wake	that the U.S.S.R. ignored universal human values by invading Afghanistan and , to put it bluntly , `` engaged in a violation of the ABM Treaty '' by building its radar station at Krasnoyarsk
+5	Earlier this week , Soviet Foreign Minister Eduard A. Shevardnadze confessed that the U.S.S.R. ignored universal human values by invading Afghanistan and , to put it bluntly , `` engaged in a violation of the ABM Treaty '' by building its radar station at Krasnoyarsk	Hungary is no longer a `` Socialist Peoples '' republic
+8	It has been a well-paid transaction , this bartering away of the prestige of the republic 's highest office	The Japanese industrialist has coughed up at least $ 2 million , the Japanese government has put up just about as much , or so it is reported and at least one estimate puts the total tab at $ 7 million
+8	as Mr. Apple and I did the other night on ABC 's `` Nightline	Punching away , we raised what I still think were all the right issues and landed more than one hard blow
+2	that we had been aiming at the wrong target	President Reagan was simply doing what he had always done before his election
+8	President Reagan was simply doing what he had always done before his election	He was performing for pay
+2	Primarily because there 's more to the matter than Ronald Reagan 's personal values , or lack of them	Selling the presidency for a mess of pottage is not so much a devaluation from the norm of public life today as it is a reflection of the disintegration of public standards
+5	as it is a reflection of the disintegration of public standards	The theme song for the 1980s has been , `` Anything Goes , '' and it has been whistled with gusto from Wall Street to some of the highest peaks of televangelism
+5	that this is nothing new , that America has always suffered from a bad case of schizophrenia when it comes to the dichotomy between what is professed and what is practiced	There is evidence to support that view
+8	There is evidence to support that view	Eighty-three years ago , William James wrote to H.G . Wells : `` The moral flabbiness born of the exclusive worship of the bitch goddess success . . . that , with the squalid cash interpretation put on the word success , is our national disease But if it was the national disease in 1906 , it is today the national commonplace.If there is no law against it , do it.If the law leaves loopholes , use them.If there is no moral prohibition that expressly forbids it , full speed ahead.And if you are caught or if people complain , simply argue that `` everyone does it '' or `` no one said I should n't `` and brazen it out.As a last recourse , when all else has failed and you are pinned , apologize for having disappointed those who trusted you but deny having actually done anything wrong . ( See , for instance , Jim Bakker 's remarks upon being sentenced to prison this Tuesday for defrauding the faithful . ) Consider the troubling dissonance between Mr. Shevardnadze 's speech of confession this week and the hang-tough defense of everyone concerned with the Iran-Contra affair.The Soviet foreign minister publicly concedes that his government `` violated norms of behavior '' in Afghanistan and just plain lied about the radar station.We have people in high place still lying through their teeth about Iran-Contra , and that apparently is n't going to change.For that matter , those long ago identified as liars are still given respectful hearings in the press
+8	it is today the national commonplace	If there is no law against it , do it
+5	If there is no law against it , do it	If the law leaves loopholes , use them
+5	If there is no law against it , do it If the law leaves loopholes , use them	If there is no moral prohibition that expressly forbids it , full speed ahead
+5	If there is no law against it , do it If the law leaves loopholes , use them If there is no moral prohibition that expressly forbids it , full speed ahead And if you are caught or if people complain , simply argue that `` everyone does it '' or `` no one said I should n't `` and brazen it out	As a last recourse , when all else has failed and you are pinned , apologize for having disappointed those who trusted you but deny having actually done anything wrong
+6	As a last recourse , when all else has failed and you are pinned , apologize for having disappointed those who trusted you but deny having actually done anything wrong . ( See , for instance , Jim Bakker 's remarks upon being sentenced to prison this Tuesday for defrauding the faithful . )	Consider the troubling dissonance between Mr. Shevardnadze 's speech of confession this week and the hang-tough defense of everyone concerned with the Iran-Contra affair.The Soviet foreign minister publicly concedes that his government `` violated norms of behavior '' in Afghanistan and just plain lied about the radar station.We have people in high place still lying through their teeth about Iran-Contra , and that apparently is n't going to change.For that matter , those long ago identified as liars are still given respectful hearings in the press
+8	Consider the troubling dissonance between Mr. Shevardnadze 's speech of confession this week and the hang-tough defense of everyone concerned with the Iran-Contra affair	The Soviet foreign minister publicly concedes that his government `` violated norms of behavior '' in Afghanistan and just plain lied about the radar station.We have people in high place still lying through their teeth about Iran-Contra , and that apparently is n't going to change.For that matter , those long ago identified as liars are still given respectful hearings in the press
+1	The Soviet foreign minister publicly concedes that his government `` violated norms of behavior '' in Afghanistan and just plain lied about the radar station	We have people in high place still lying through their teeth about Iran-Contra , and that apparently is n't going to change.For that matter , those long ago identified as liars are still given respectful hearings in the press
+8	That is the key to the current `` national disease	No one seems willing to hold anyone in public life to a standard higher than the narrowest construction of the law
+4	to hold anyone in public life to a standard higher than the narrowest construction of the law	the general inclination is to offer a version of the old refrain , `` Who am I to judge
+1	You are mad because he 's making so much money , '' say President Reagan 's defenders	No , we ought to be mad because he has demeaned the office we gave him , enlisting it in the service of private gain , just as we ought to be mad that public officials lie through their teeth , play disingenuous games about their activities or , to steal a phrase , make public service a private trough
+2	But there is no defense at all for the ethos of the 1980s	We did n't stampede into it , we slithered and slipped down the long slope
+0	Mr. Drabinsky and Vice Chairman Myron Gottlieb are negotiating financing before offering C $ 16.40 a share to acquire all of Cineplex 's shares outstanding	that the two executives have n't reached a final decision to proceed with a bid
+1	Ms. Kolber said the committee had received other bids	She declined to identify other bidders
+1	Mr. Drabinsky 's offer `` is all cash , and it 's for all of the company	that outside bids received by the committee were either disappointingly low or for only part of the company
+2	that MCA and the Bronfmans have agreed on a price at which they can be bought out	If a bid materializes at that price , shareholders will have every reason to be glad
+0	the purchase was aimed at consolidating his control of the company	MCA strongly opposed the Drabinsky group 's move
+8	Cineplex shareholders responded coolly to yesterday 's announcement	In trading on the New York Stock Exchange , Cineplex closed at $ 11 , down 25 cents , with more than a million shares changing hands.On the Toronto Stock Exchange , Cineplex closed at C $ 12.875 , off 37.5 Canadian cents , well below the C $ 16.40 level
+7	In trading on the New York Stock Exchange , Cineplex closed at $ 11 , down 25 cents , with more than a million shares changing hands	On the Toronto Stock Exchange , Cineplex closed at C $ 12.875 , off 37.5 Canadian cents , well below the C $ 16.40 level
+8	Where 's the bid	he does n't think Messrs.Drabinsky and Gottlieb are `` anywhere close '' to arranging financing
+9	Hoechst AG 's Chairman Wolfgang Hilger said the company wants to have a substitute product to completely replace ozone-damaging chlorofluorocarbons by 1995	In April , Hoechst , the largest producer of CFCs in West Germany , said it wanted to reduce production of the product by 50 % by 1993
+1	one of the first companies to distribute bottled water nationwide	Perrier , sold by Perrier Group of America , a unit of Source Perrier S.A. of Paris , and Evian , sold by a U.S. unit BSN of France , are distributed to urban areas nationally , but are less available in rural communities
+1	Perrier , sold by Perrier Group of America , a unit of Source Perrier S.A. of Paris , and Evian , sold by a U.S. unit BSN of France , are distributed to urban areas nationally , but are less available in rural communities	Coors , with its large beer-distribution network , could penetrate more markets
+5	the water will be called Coors Rocky Mountain Sparkling Water and will come from the same mountain spring as water used in Coors beer	it will sell the water plain and with lemon-lime and cherry flavors and will package it in 28-ounce bottles and 6.5 ounce bottles as part of six-packs
+5	The U.S. , in a far-reaching plan submitted to the Geneva meeting Tuesday , proposed curbing price support subsidies within 10 years and eliminating export subsidies within five years	the plan was flexible , and was intended as a pragmatic approach for gradually removing trade-distorting subsidies
+8	But the EC reacted defiantly , arguing that the proposal 's main aim is to destroy the Common Agricultural Policy , the EC 's $ 28 billion-a-year price support program	The American proposal is not an adequate basis for negotiation , '' the EC said in a statement
+5	and is insisting on the `` elimination '' of export subsides , not just reduction	the U.S. plan `` calls into question '' the agreement reached by world negotiators last April in Geneva seeking `` substantial progressive reductions in agricultural support and protection
+5	U.S. Deputy Trade Representative Jules Katz replied that the proposal was entirely consistent with the April accord	He said he was surprised by the EC 's reaction , calling it `` vehement , even frenetic
+2	The U.S. proposal also was criticized by food-importing developing countries	While many experts argue that food-importing nations would eventually become self-sufficient in a free-market system , the poorest nations are likely to need help in the meantime
+8	its plan would allow considerable flexibility in determining how and when the free-trade goals would be achieved	that its plan would ease the transition to freer agriculture trade by converting certain non-tariff barriers into tariffs that , together with existing tariffs , then would be phased out over 10 years
+5	The new U.S. package also says countries could temporarily raise tariffs on certain products if they experience an unusually heavy volume of imports	It would establish procedures to prevent countries from using health and sanitation rules to impede trade arbitrarily
+1	Bell Atlantic Corp. said it agreed definitively to acquire one of Control Data Corp. 's computer-maintenance businesses	Terms of the accord were n't disclosed
+9	Russell Miller 's `` Bare-Faced Messiah : The True Story of L. Ron Hubbard '' is a biography of the founder of the Church of Scientology.Mr . Hubbard , who died in 1986 , bequeathed the copyrights on his writings to his church , which licensed them to New Era Publications , a Danish corporation	In 1988 New Era sought a permanent injunction to restrain Henry Holt & Co. from publishing `` Bare-Faced Messiah '' on the ground that Mr. Miller 's quotations from Mr. Hubbard infringed the copyrights
+1	In 1988 New Era sought a permanent injunction to restrain Henry Holt & Co. from publishing `` Bare-Faced Messiah '' on the ground that Mr. Miller 's quotations from Mr. Hubbard infringed the copyrights	The publisher argued in response that the `` fair use '' statute permits quotation `` for purposes such as criticism , comment , news reporting , teaching , . . . scholarship , or research
+5	District Court Judge Pierre Leval denied the injunction on the ground that New Era had failed to make its claim within a reasonable time -- the doctrine lawyers call `` laches	As for the merits , Judge Leval said that Mr. Miller had written `` a serious book of responsible historical criticism
+8	Verbatim quotation was justified in order to prove points the author had asserted about Mr. Hubbard -- mendacity , bigotry , paranoia and other unlovely traits that could not be persuasively demonstrated without use of Mr. Hubbard 's own words	The biographer/critic should not be required simply to express . . . conclusions without defending them by example
+2	The biographer/critic should not be required simply to express . . . conclusions without defending them by example	In such circumstances , free-speech interests outweighed the interests of the copyright owner
+0	But Judge Leval felt constrained by an earlier decision of the Second Circuit Court forbidding a biographer of J.D . Salinger to quote from Mr. Salinger 's personal letters	He distinguished the two cases
+8	He distinguished the two cases	In Salinger , Judge Leval noted , the quotations were for the purpose of enlivening the biography rather than of proving points about the subject
+2	Still the Salinger decision created a strong presumption against fair use of unpublished materials	that a few of Mr. Miller 's quotations from Mr. Hubbard 's unpublished writings , because they were not necessary to prove historical points , failed the fair-use test and therefore infringed copyright
+9	The case went on appeal to the Second Circuit	In a decision in April of this year , Judge Roger Miner , joined by Judge Frank Altimari , agreed on denying the injunction and did not doubt that `` Bare-Faced Messiah '' was a serious work but rejected Judge Leval 's argument that the public interest in scholarship could outweigh the sanctity of copyright
+8	but rejected Judge Leval 's argument that the public interest in scholarship could outweigh the sanctity of copyright	We conclude , '' the two judges wrote , `` that laches is the sole bar to the issuance of an injunction . '' Had the suit been filed in time , they said , `` Bare-Faced Messiah '' would have been suppressed
+2	that laches is the sole bar to the issuance of an injunction	Had the suit been filed in time Bare-Faced Messiah '' would have been suppressed
+2	This was too much for James Oakes , the court 's chief judge	In a powerful separate opinion , Judge Oakes further distinguished the Salinger case by pointing out that a living person , like Mr. Salinger , had privacy rights that did not apply to a dead man , like Mr. Hubbard
+3	that a living person , like Mr. Salinger , had privacy rights that did not apply to a dead man , like Mr. Hubbard	that Salinger might by being taken in another factual context come back to haunt us
+5	I thought that Salinger might by being taken in another factual context come back to haunt us	This case realizes that concern
+1	Judges Oakes and Leval understand the requirements of historical scholarship	Judges Miner and Altimari do not appear to have a clue
+3	As matters stand , the Salinger ruling , torn from context and broadly construed , is controlling	If an author quotes `` more than minimal amounts '' of unpublished copyrighted materials , as the Salinger decision had it , `` he deserves to be enjoined . '' The courts have not defined `` minimal amounts , '' but publishers , I understand , take it to mean about 50 words
+5	The `` Bare-Faced Messiah '' decision strikes a blow against the whole historical enterprise	A second decision , handed down in August by the Court of Appeals for the Ninth Circuit , is another blow against scholarship
+5	and , as proof of malice , Mr. Masson contended that defamatory quotations ascribed to him by Ms. Malcolm were in fact fabricated	The quotes could not be found on the tapes
+2	that when a writer uses quotation marks in reporting what someone has said , the reader assumes that these are the speaker 's precise words or at least his words purged of `` uh '' and `` you know '' and grammatical error	While judges have an obligation under the First Amendment to safeguard freedom of the press , `` the right to deliberately alter quotations is not , in my view , a concomitant of a free press
+1	Ms. Malcolm , for example , wrote that Mr. Masson described himself as `` the greatest analyst who ever lived	No such statement appears on the tapes
+1	No such statement appears on the tapes	The majority cited Mr. Masson 's remark `` It 's me alone . . . against the rest of the analytic world '' as warrant for the Malcolm fabrication
+1	Ms. Malcolm had Mr. Masson describing himself as `` an intellectual gigolo	Again , no such statement appears on the tapes
+1	Again , no such statement appears on the tapes	The majority decision contended that the phrase was a rational interpretation of Mr. Masson 's description of himself as a `` private asset but a public liability '' to Anna Freud
+1	The majority decision contended that the phrase was a rational interpretation of Mr. Masson 's description of himself as a `` private asset but a public liability '' to Anna Freud and that in any case it was not defamatory	Judge Kozinski found the derivation entirely strained and writes that `` for an academic to refer to himself as an intellectual gigolo is . . . a devastating admission of professional dishonesty
+3	These were only two of a series of fabrications that had , in Judge Kozinski 's words , the cumulative effect of making Mr. Masson `` appear more arrogant , less sensitive , shallower , more self-aggrandizing , and less in touch with reality than he appears from his own statements	As Robert Coles wrote in a review of Ms. Malcolm 's book , Mr. Masson emerges `` as a grandiose egotist . . . and , in the end , a self-destructive fool.But it is not Janet Malcolm who calls him such : his own words reveal this psychological profile
+6	These were only two of a series of fabrications that had , in Judge Kozinski 's words , the cumulative effect of making Mr. Masson `` appear more arrogant , less sensitive , shallower , more self-aggrandizing , and less in touch with reality than he appears from his own statements	As Robert Coles wrote in a review of Ms. Malcolm 's book , Mr. Masson emerges `` as a grandiose egotist . . . and , in the end , a self-destructive fool.But it is not Janet Malcolm who calls him such : his own words reveal this psychological profile
+1	who calls him such	his own words reveal this psychological profile
+1	his own words reveal this psychological profile	We now know that the words were not always his own
+8	There is one sacred rule of journalism	The writer must not invent
+2	The writer must not invent	Should the green light Judges Alarcon and Hall have given to the fabrication of quotations become standard practice , it will notably reduce the value of journalism for historians -- and for citizens
+8	Should the green light Judges Alarcon and Hall have given to the fabrication of quotations become standard practice , it will notably reduce the value of journalism for historians -- and for citizens	To invoke the right to deliberately distort what someone else has said is to assert the right to lie in print . . . . Masson has lost his case , but the defendants , and the profession to which they belong , have lost far more
+2	To invoke the right to deliberately distort what someone else has said is to assert the right to lie in print	Masson has lost his case , but the defendants , and the profession to which they belong , have lost far more
+2	Legal controversies in America have a way of assuming a symbolic significance far exceeding what is involved in the particular case	They speak volumes about the state of our society at a given moment
+6	It has always been so	In the 1920s , a young schoolteacher , John T. Scopes , volunteered to be a guinea pig in a test case sponsored by the American Civil Liberties Union to challenge a ban on the teaching of evolution imposed by the Tennessee Legislature.The result was a world-famous trial exposing profound cultural conflicts in American life between the `` smart set , '' whose spokesman was H.L . Mencken , and the religious fundamentalists , whom Mencken derided as benighted primitives.Few now recall the actual outcome : Scopes was convicted and fined $ 100 , and his conviction was reversed on appeal because the fine was excessive under Tennessee law
+0	The result was a world-famous trial exposing profound cultural conflicts in American life between the `` smart set and the religious fundamentalists	Few now recall the actual outcome
+8	when Alger Hiss became a lightning rod for the anxieties of the Cold War and conflicting attitudes toward the New Deal he had served	His trials aroused public passions out of all proportion to the rather banal secrets he allegedly had passed to Soviet intelligence
+5	And so it seems to be with the case of Elizabeth Morgan , the Washington , D.C. , plastic surgeon jailed in a child custody case for refusing to reveal the whereabouts of her daughter	Dr. Morgan has just emerged from the D.C. jail after more than two years ' confinement for contempt of court , a heroine to her many supporters
+1	And so it seems to be with the case of Elizabeth Morgan , the Washington , D.C. , plastic surgeon jailed in a child custody case for refusing to reveal the whereabouts of her daughter	Dr. Morgan has just emerged from the D.C. jail after more than two years ' confinement for contempt of court , a heroine to her many supporters
+2	It is what lawyers call `` fact intensive	It presents no great issue of legal principle , no overriding question of family law or the law of contempt
+2	Instead , it turns on the disputed and elusive facts of `` who did what to whom	It is difficult , if not impossible , for anyone who has not pored over the thousands of pages of court pleadings and transcripts to have a worthwhile opinion on the underlying merits of the controversy
+5	It is difficult , if not impossible , for anyone who has not pored over the thousands of pages of court pleadings and transcripts to have a worthwhile opinion on the underlying merits of the controversy	Certainly I do not
+8	So we must look elsewhere for an explanation of the unusual power this case has exerted over the minds of many , not just in Washington but elsewhere in the country and even the world	that three themes have come together in the strange case of Dr. Morgan
+5	many of Dr. Morgan 's supporters have taken Thurber 's memorable title `` The Male Animal '' quite literally	The vehemence of the emotions aroused by the case testifies to its symbolic importance in the war that Thurber accepted as an eternal part of the human condition
+2	A second theme is the undercurrent of social class and race in the public reaction to the Morgan case	Dr. Morgan is a highly educated white professional who attended some of the `` best '' schools
+5	Dr. Morgan is a highly educated white professional who attended some of the `` best '' schools	As members of the Black Caucus in Congress asked during the debate on the legislation that freed Dr. Morgan , does anyone seriously believe that if she were an uneducated , black , working-class woman , Congress would have rushed to pass a private relief bill freeing her
+2	Finally , the case of Dr. Morgan gave Congress an opportunity to act with unaccustomed decisiveness and to engage in one of its favorite pastimes -- bashing the District of Columbia government	The local government is discredited in the eyes of many residents for a variety of reasons
+2	The local government is discredited in the eyes of many residents for a variety of reasons	Bashing the D.C. government is risk-free for members of Congress
+5	The Morgan case thus tells us much more about the current state of sex , class , race and politics in our society than it does about the facts of Dr. Morgan 's particular situation	It may stand as a metaphor for how wide and deep the divisions in that society continue to be however we try to deny their existence
+2	The Morgan case thus tells us much more about the current state of sex , class , race and politics in our society than it does about the facts of Dr. Morgan 's particular situation	It may stand as a metaphor for how wide and deep the divisions in that society continue to be however we try to deny their existence
+8	The proposal , however , was immediately rebuffed by Arby 's parent , DWG Corp	Arby 's is n't for sale , '' said Renee Mottram , senior vice president at DWG
+5	Stevric 's principals , Richard and Steven Buckley , said they led the acquisition group that acquired the Nathan 's Famous Inc. restaurant chain and subsequently served as the top officers of the company	Richard Buckley said Stevric 's acquisition of Arby 's `` would allow seasoned franchisers and food-service operators , with no conflicts of interest , to stabilize franchisee relations and properly refocus the company 's energies toward growth
+5	GM closed down $ 1.875 at $ 44.875 in New York Stock Exchange trading yesterday	Earnings for GM common stock , reflecting the performance of GM 's core automotive operations , will be disclosed this morning
+5	Earnings for GM common stock , reflecting the performance of GM 's core automotive operations , will be disclosed this morning	GM Class H , which represents a dividend interest in Hughes earnings , closed at $ 29 , up 25 cents in Big Board composite trading
+1	GM Class H , which represents a dividend interest in Hughes earnings , closed at $ 29 , up 25 cents in Big Board composite trading	GM Class E , which represents a dividend interest in EDS profit , fell 75 cents to $ 52.25 on the Big Board
+5	In addition , GM 's North American vehicle production fell 8.4 % from a year ago , which hurt Delco Electronic 's earnings	That decline was reflected in revenue for the GM Hughes unit , which edged down to $ 2.58 billion from $ 2.63 billion
+1	In the nine months , GM Hughes net fell 6.6 % to $ 486.6 million , or $ 1.48 a share , from $ 521 million , or $ 1.58 a share	Revenue rose 3.5 % to $ 8.47 billion from $ 8.18 billion
+5	At GMAC , net dropped 3.1 % to $ 234.5 million from $ 241.9 million	The finance unit attributed the decline to higher borrowing costs compared with a year earlier
+1	At GMAC , net dropped 3.1 % to $ 234.5 million from $ 241.9 million The finance unit attributed the decline to higher borrowing costs compared with a year earlier	GMAC said its automotive financing and leasing business rose 35 % in the U.S. , largely because of dealer and customer incentives used to boost sales
+5	At EDS , third-quarter profit jumped 16 % to a record $ 110.9 million , or 93 cents a share , from $ 95.9 million , or 79 cents a share	Revenue rose 12 % to $ 1.37 billion from $ 1.22 billion
+5	In the nine months , EDS earned $ 315.8 million , or $ 2.62 a share , up 13 % from $ 280.7 million , or $ 2.30 a share	Revenue rose 14 % to $ 4.03 billion from $ 3.54 billion
+5	Revenue rose 14 % to $ 4.03 billion from $ 3.54 billion	Revenue from non-GM accounts was 45 % of EDS 's total business in the latest nine months , compared with 40 % a year earlier
+1	Revenue from non-GM accounts was 45 % of EDS 's total business in the latest nine months , compared with 40 % a year earlier	The company has said it wants to boost non-GM revenue to at least 50 % of its total business by the end of 1990
+5	that under the United Illuminating plan , unsecured creditors would be paid in full credits and interest of about $ 855 million , accrued before PS of New Hampshire 's Jan. 1988 filing for bankruptcy court protection In addition , they would receive some $ 200 million in payments for interest since then	that by next July they would have accrued unpaid interest equal to $ 350 million
+1	that by next July they would have accrued unpaid interest equal to $ 350 million	Other plans generally would n't pay unsecured creditors ' interest accrued since the filing
+8	Under United Illuminating 's plan , a new holding company would be formed to own the two companies	It would be 72 % -owned by United Illuminating holders and 28 % -owned by current holders of PS of New Hampshire preferred and common stock
+8	PS of New Hampshire preferred holders also would get certain debentures and preferred stock	the preferred holders total package would equal about 60 % of their claims
+1	the preferred holders total package would equal about 60 % of their claims	Common shareholders would end up owning about 6.4 % of the combined company
+5	Northeast Utilities , Hartford , Conn. , Monday filed a bid it valued at $ 2.25 billion	That offer was endorsed by the shareholders committee
+8	The other bidders , New England Electric System , Westboro , Mass. , and PS of New Hampshire , did n't change the value of their bids	New England Electric values its offer at $ 2 billion and PS of New Hampshire values its reorganization plan at $ 2.2 billion
+1	which promises to limit rate increases to 4.8 % annually for seven years	Northeast Utilities ' plan proposes 5.5 % annual increases
+8	United Illuminating also amended its rate plan	The new offer assumes just five years of 5.5 % rate increases , to be followed by state-approved increases under the usual hearing procedure
+0	The bids and rate proposals generally assume the Seabrook nuclear power plant , which is completed , will go into operation	Most of the plans have reduced bids in case the plant fails to get a license from the Nuclear Regulatory Commission
+1	In New York Stock Exchange trading , PS of New Hampshire 's 17 1/2 debenture due 2004 closed yesterday at $ 82.50 , up $ 2	The utility 's stock closed at $ 4 a share , up 37.5 cents , in composite trading on the Big Board
+5	In a separate development , PS of New Hampshire gave 60 managers severance agreements that would pay one to three years ' salary if their jobs were changed or they were dismissed in the wake of a takeover	It said the maximum cost of the plan would be $ 9.7 million
+2	Richard Breeden had n't noticed that his new desk had just four telephone lines and one phone	It was , after all , only his second full day as chairman of the Securities and Exchange Commission
+2	But the lack of lines became painfully apparent	As the stock market lurched into a 190-point free fall on Oct. 13 , Mr. Breeden found himself scurrying around the sixth floor of the SEC -- from his desk , where the New York Stock Exchange was on an open line , to his assistant 's office , where the Commodity Futures Trading Commission was connected , to a third room , where a computer monitored market moves
+5	As the stock market lurched into a 190-point free fall on Oct. 13 , Mr. Breeden found himself scurrying around the sixth floor of the SEC -- from his desk , where the New York Stock Exchange was on an open line , to his assistant 's office , where the Commodity Futures Trading Commission was connected , to a third room , where a computer monitored market moves	I 'd either have to disconnect the New York Stock Exchange or go out to the secretary 's desk
+2	It wo n't happen again	Now there are more lines connected to the chairman 's office , and the market-monitoring computer has been moved next to his desk
+8	Now there are more lines connected to the chairman 's office , and the market-monitoring computer has been moved next to his desk	It 's all part of a new `` command center
+5	In an interview and in congressional testimony , he repeatedly points to the recent 190-point plunge in the Dow Jones Industrial Average -- the second-largest ever -- as evidence of the need for Congress to give the SEC the ability to better monitor leveraged buy-out loan activity by brokerage firms and to track big trades in the market	A veteran of another financial crisis , the savings-and-loan bailout , Mr. Breeden wants to have the SEC regulate securities issued by banks and S & Ls
+5	More broadly , he wants to `` modernize '' regulation by eliminating barriers between commercial and investment banking and by helping U.S. financial firms compete in the global market	He believes the tax code encourages the use of debt instead of stock and may fuel leveraged buy-outs , an area the SEC does n't regulate directly but one where it wields influence both on Wall Street and in Congress
+2	Also unlike Mr. Ruder , Mr. Breeden appears to be in a position to get somewhere with his agenda	As a former White House aide who worked closely with Congress , he is savvy in the ways of Washington
+2	For instance , he has n't stated a clear position on high-risk , high-yield junk bonds , an area of growing concern as turmoil in the junk market spills over into stocks	He may be waiting to see the results of several pending SEC studies of junk market liquidity and disclosure rules
+2	Congress seems likely to let the new chairman have his way for a while	Members of the Senate Banking Committee know Mr. Breeden from working on the thrift-bailout bill , and the relationship generally remains warm
+2	These days , Mr. Breeden is winning praise in Washington and on Wall Street for his behind-the-scenes role in monitoring the Friday-the-13th market plunge and the following Monday 's harrowing morning session	As a regulator charged with restoring investor confidence , Mr. Breeden avoided making market-jarring comments and worked to gather information critical to Wall Street and to other government agencies
+2	Not everyone has jumped on the Breeden bandwagon , however	Some in Washington contend that it 's too soon to tell whether Mr. Breeden will help or hinder the SEC
+6	Not everyone has jumped on the Breeden bandwagon , however	Some in Washington contend that it 's too soon to tell whether Mr. Breeden will help or hinder the SEC
+2	Some in Washington contend that it 's too soon to tell whether Mr. Breeden will help or hinder the SEC	I do n't think this was a real test It was a fairly stressful weekend , but my sense is if you had n't had Richard Breeden there , it would n't have made much of a difference
+2	I do n't think this was a real test	It was a fairly stressful weekend , but my sense is if you had n't had Richard Breeden there , it would n't have made much of a difference
+2	an agency that covets its independence , Mr. Breeden may be too much of a Washington insider	that he has adorned his office with five photos of George Bush , one of them featuring the First Dog , Millie
+2	that he has adorned his office with five photos of George Bush , one of them featuring the First Dog , Millie	They worry that Mr. Breeden also will roll over when told to do so by the White House
+8	But Mr. Breeden already has shown an eagerness to run the SEC his way	During the Monday market rebound , a New York exchange spokesman told Cable News Network viewers that the industrial average had turned down 70 points.Stunned , Mr. Breeden turned to his market-monitoring computer , which by then was next to his desk.It showed the DJIA up 30 points SEC staffers soon determined that a widely watched stock-market service , Quotron , had miscalculated the industrial average.Mr . Breeden instructed SEC staffers to inform the network that it was airing the wrong number . `` It was the plunge that did n't happen , '' he says
+9	During the Monday market rebound , a New York exchange spokesman told Cable News Network viewers that the industrial average had turned down 70 points	Stunned , Mr. Breeden turned to his market-monitoring computer , which by then was next to his desk
+2	During the Monday market rebound , a New York exchange spokesman told Cable News Network viewers that the industrial average had turned down 70 points	Stunned , Mr. Breeden turned to his market-monitoring computer , which by then was next to his desk
+5	Stunned , Mr. Breeden turned to his market-monitoring computer , which by then was next to his desk	It showed the DJIA up 30 points
+2	that a widely watched stock-market service , Quotron , had miscalculated the industrial average	Mr. Breeden instructed SEC staffers to inform the network that it was airing the wrong number
+9	Congressmen raised the issue yesterday at a hearing	Mr. Breeden , not missing a chance to press his agenda , cited the earthquake
+8	Mr. Breeden , not missing a chance to press his agenda , cited the earthquake	That event , he contended , simply shows the `` vulnerability '' of having listings on only one exchange
+5	In a corner of the cavernous , new Nippon Convention Center sits Mazda Motor Corp. 's advanced-technology display	The highlight : a `` fragrance control system
+5	Here you can find Mitsubishi Motors Corp. displaying a `` live fish transporter , '' a truck akin to an aquarium on wheels , and Nissan Motor Co. with its `` keyless '' Boga , whose doors unlock upon recognizing the owner 's fingerprints	Suzuki Motor Co. 's Escudome sport vehicle features a pop-out rear tent and invites drivers to go `` back to the nature
+6	but the Tokyo show is international	Virtually every automotive analyst in New York showed up
+5	Virtually every automotive analyst in New York showed up	Detroit-to-Tokyo flights were booked solid this week as Motor City executives , including Ford Motor Co. Chairman Donald E. Petersen and Chrysler Corp. Vice Chairman Gerald Greenwald , flocked to see the future
+5	Virtually every automotive analyst in New York showed up Detroit-to-Tokyo flights were booked solid this week as Motor City executives , including Ford Motor Co. Chairman Donald E. Petersen and Chrysler Corp. Vice Chairman Gerald Greenwald , flocked to see the future	Even the Soviet Union came , for the first time in 24 years , to show off its Lada Niva sedan and its futuristic dark-blue `` Kompakt '' model
+8	that insulate passengers from bumps , potholes and other rigors of the road	These `` active suspension systems '' electronically sense road conditions and adjust a car 's ride
+2	that insulate passengers from bumps , potholes and other rigors of the road	These `` active suspension systems '' electronically sense road conditions and adjust a car 's ride
+5	These `` active suspension systems '' electronically sense road conditions and adjust a car 's ride	Existing suspension systems try to absorb bounces , but active suspension provides power to counter the jolts
+1	Nissan , in a 34-page tract , modestly compares its `` hydraulic active suspension '' to a cheetah , and equates the various parts to the animal 's heart , brain , nerves and blood vessels	Toyota Motor Corp. grandly touted its system in a car that splits in half to reveal the suspension 's inner workings
+2	But drivers in the U.S. must wait	The Japanese , for now , are keeping active suspension for domestic use only
+2	that within a decade could provide power equal to today 's engines	In the so-called two-stroke engines each piston goes up and down only once to provide power
+8	There 's plenty of whimsy here , but it is n't always clear whether it 's intentional	The show 's symbol is a woman riding on a snail , not your usual metaphor for speed and agility
+8	But the sponsors have an explanation	Through the character associated with a snail , '' they say , `` important values such as harmony with nature and aspirations for the future are sought
+8	Japanese auto makers are known for coming up with funny names , but this year the practice seems to have reached a new high -- or low	Honda has a tiny motorcycle called the Monkey , and a slightly larger cousin , the Gorilla
+7	Honda has a tiny motorcycle called the Monkey , and a slightly larger cousin , the Gorilla	Mitsubishi has a futuristic delivery truck called the Guppy
+7	Mitsubishi has a futuristic delivery truck called the Guppy	Mazda has the Bongo truck and , under its Autozam nameplate , a `` microvan '' called the Scrum
+7	Mazda has the Bongo truck and , under its Autozam nameplate , a `` microvan '' called the Scrum	Its buglike Carol minicar is `` designed with softness , gentleness and warmheartedness
+2	But the court jester appears to be Japan 's smallest car maker , Daihatsu Motor Co	One of its futuristic concepts is the bubblelike Sneaker , which seats just one person in front and could hold a small child and bag of groceries in the rear
+6	The jokes are n't just on the Japanese , though	Regie Nationale des Usines Renault , the French auto maker , has a concept car called the Megane.The name is supposed to connote feminine grandeur , but in Japanese it means `` eyeglasses
+6	Foreign auto makers are taking the Tokyo Motor Show more seriously than ever	AB Volvo invites passers-by to play `` the role of the test dummy '' by hopping in a car that simulates a crash to show just how its seat-belt tightener works
+3	Foreign auto makers are taking the Tokyo Motor Show more seriously than ever	AB Volvo invites passers-by to play `` the role of the test dummy '' by hopping in a car that simulates a crash to show just how its seat-belt tightener works
+7	AB Volvo invites passers-by to play `` the role of the test dummy '' by hopping in a car that simulates a crash to show just how its seat-belt tightener works	Hyundai Motor Co. of South Korea has its first-ever exhibit in Tokyo
+8	Ford officials , for example , crowed about their first-ever Tokyo Grand Prix racing victory	True , Ford was declared the winner Sunday
+8	Mr. Jordan of GM , meanwhile , still criticizes Japanese styling	It 's hard for the Japanese , '' he says , `` to get a feeling in a car , to get a passion in a car , to get emotion in a car
+8	This is a classic example of the old saying , `` The whole is greater than the sum of its parts	It 's ridiculous for a family with taxable income of $ 50,000 to pay the same 28 % incremental tax rate as a family with taxable income of $ 250,000
+1	for a family with taxable income of $ 50,000 to pay the same 28 % incremental tax rate as a family with taxable income of $ 250,000	The 33 % bracket should apply to all income over the applicable level , not just the 5 % rate adjustment amount
+2	current demand for used aircraft is strong	that PWA would have little difficulty attracting prospective buyers
+5	it will also increase its existing fleet of eight Boeing 767-300ER aircraft to 18 by 1994 , and add four more Boeing 747-400s by 1994 to the two units that it previously planned to add by next year	two of the Boeing 767-300ER aircraft scheduled for delivery in 1990 would be leased out for two to five years
+1	I do n't see this as a debt reduction exercise	It 's focused on streamlining '' PWA 's fleet in a bid to cut training and aircraft servicing costs
+7	This British banking and financial-services group 's investment-banking arm , Barclays de Zoete Wedd Group , announced the following appointments at its merchant-banking subsidiary Barclays de Zoete Wedd Ltd	John Padovan , 51 years old , was named a deputy chairman
+7	Graham Pimlott , 40 , was named to the new post of chief executive officer of the merchant-banking corporate-finance division	Callum McCarthy , 45 , was named to the new post of deputy head of the corporate-finance division and a managing director
+2	The recent bids for United and American Airlines have led Congress to move with supersonic speed to protect incumbent airline managements	The House is scheduled to vote today on an anti-airline-takeover bill that would block , for up to 50 days , any bid for 15 % or more of a U.S. airline , even a straight cash purchase
+1	The House is scheduled to vote today on an anti-airline-takeover bill that would block , for up to 50 days , any bid for 15 % or more of a U.S. airline , even a straight cash purchase	Transportation Secretary Sam Skinner now says the bill would further disturb the jittery capital markets
+1	Transportation Secretary Sam Skinner now says the bill would further disturb the jittery capital markets	Texas Rep. Steve Bartlett says the bill is `` good politics , but bad law
+5	the bill is `` good politics , but bad law	It is ironic that at a time when America 's partial airline deregulation is being emulated by governments from New Zealand to Ethiopia , so many in Congress favor an incumbent-protection program for airlines that would be more appropriate for the Soviet airline , Aeroflot
+5	aimed at eliminating inflation within five years	Such a deadline is attainable
+1	What seem to be interpreted as great conflicts are relatively minor issues of tactics , '' he said	He did n't elaborate
+1	Rep. Neal 's bill originally called on the Fed to reduce the inflation rate by one percentage point a year for five years and to maintain a zero inflation rate thereafter	He altered the wording to win Mr. Greenspan 's endorsement
+1	I 'm ecstatic about the change , '' said Mr. Vila	In an interview , Mr. Vila criticized his old show , which is continuing with a new host
+8	Public TV is in fantasy land	Last season , we did a story that involved spending $ 700,000 in converting a two-family house into a bed and breakfast
+1	Last season , we did a story that involved spending $ 700,000 in converting a two-family house into a bed and breakfast	In the new show we 're going to spend $ 60,000 building a start-up house '' for a young couple
+8	While Sears would n't comment on the brouhaha over Mr. Vila 's commercial endorsements , it appears to be building a fence around Mr. Vila 's affections	His contract makes him `` exclusive '' spokesman for Sears 's home improvement marketing campaigns
+5	His contract makes him `` exclusive '' spokesman for Sears 's home improvement marketing campaigns	Ogilvy & Mather in Chicago , a unit of WPP Group PLC , will handle the advertising account and syndication
+5	The only other endorsement permitted by the contract involves a series of Time-Life home improvement and repair books	His other agreements to promote products have expired
+1	that `` public TV never paid me more than $ 40,000 a year	his compensation under the Sears contract is `` a multimillion dollar deal
+6	But they are already objecting to , among other things , a plan to give more weight to cost-benefit considerations in evaluating pesticides	It 's a tremendous disappointment , '' said Janet Hathaway , an attorney with the Natural Resources Defense Council . `` Allowing the EPA to condone continued use of a chemical whenever the benefits outweigh the risks is absolutely anathema to the environmental community
+2	It 's a tremendous disappointment	Allowing the EPA to condone continued use of a chemical whenever the benefits outweigh the risks is absolutely anathema to the environmental community
+5	The principles would give the Environmental Protection Agency increased authority and flexibility in regulating pesticides , with the aim of enabling the agency to move more quickly	There already are proposals pending in Congress to overhaul pesticide law
+2	when the EPA was harshly criticized for failing to yank the possible carcinogen , a growth regulator used to make apples redder and crunchier	The agency has since acted to remove Alar from the nation 's grocery shelves by May 31 , 1991 , and the apple industry has said that growers already have stopped using the chemical
+2	to set `` negligible risk '' levels for pesticide residues in processed food	Chemicals that exceed these risk levels would be barred , but those that fall below these levels would be allowed
+1	The Dow Jones Industrial Average lost 5.94 points to 2653.28 in moderate trading	Long-term Treasury bonds rose slightly despite the arrival on the market of $ 4.52 billion in 30-year bonds offered by the Resolution Funding Corp. as part of the government 's bailout of the savings and loan industry
+1	Long-term Treasury bonds rose slightly despite the arrival on the market of $ 4.52 billion in 30-year bonds offered by the Resolution Funding Corp. as part of the government 's bailout of the savings and loan industry	The dollar was barely changed against the West German mark and up marginally against the Japanese yen
+2	Yesterday 's sluggish action was in marked contrast to the rearing and plunging of stock prices Tuesday after the proposed buy-out of UAL Corp. once again collapsed	the stock market 's lurching moves have prompted many investors to head for the sidelines until it regains some semblance of stability
+2	action also was much slower yesterday in the Treasury market	Bond investors paid close attention to comments by Federal Reserve Chairman Alan Greenspan
+0	but were n't able to extract many clues about the future course of the Fed 's monetary policy	Many analysts are expecting the Fed to lower interest rates at least once more before the end of the year
+5	Investors now are awaiting today 's release of the preliminary estimate of third-quarter gross national product	Economists predict the report will show economic growth of about 2.5 % in the third quarter , which would have little effect on financial markets
+5	Stock prices slipped lower in moderate trading	Volume on the New York Stock Exchange totaled 155.7 million shares
+8	Bond prices inched higher	The Treasury 's benchmark 30-year issue rose less than an eighth of a point , or less than $ 1.25 for each $ 1,000 of face amount
+5	The Treasury 's benchmark 30-year issue rose less than an eighth of a point , or less than $ 1.25 for each $ 1,000 of face amount	The yield on the issue stood at 7.88 %
+8	The dollar was virtually unchanged	In late New York trading the U.S. currency was quoted at 1.8353 marks and 141.52 yen , compared with 1.8355 marks and 141.45 yen Tuesday
+2	that discussed the `` image '' of intercollegiate athletics for an audience of campus information directors and others	We scribblers quickly concurred that not only was the bad rep of big-time college sports richly earned , but also that it could be corrected
+6	but also that it could be corrected	Competition could be maintained -- and stadiums probably would remain full -- if schedules were reduced and the games returned to the students
+5	that not only was the bad rep of big-time college sports richly earned , but also that it could be corrected.Competition could be maintained -- and stadiums probably would remain full -- if schedules were reduced and the games returned to the students	Comments from the audience reflected widespread , if wistful , agreement with those conclusions
+8	It 's like the U.S. and the Russians	Nobody wants to disarm first
+5	And so our institutions of higher learning lurch from scandal to scandal on gridiron and basketball court , while the casualties mount	Three new books make the point that one large price of the glittery college-sports show can be the integrity of the schools that stage it
+8	Three new books make the point that one large price of the glittery college-sports show can be the integrity of the schools that stage it	They are : `` A Payroll to Meet : A Story of Greed , Corruption and Football at SMU '' ( Macmillan , 221 pages , $ 18.95 ) by David Whitford ; `` Big Red Confidential : Inside Nebraska Football '' ( Contemporary , 231 pages , $ 17.95 ) by Armen Keteyian ; and `` Never Too Young to Die : The Death of Len Bias '' ( Pantheon , 252 pages , $ 18.95 ) by Lewis Cole
+5	The pick of the group is `` Payroll	it should be required reading for every college president
+2	it should be required reading for every college president	It chronicles how , over a period of a dozen years , Southern Methodist University bought its way to football respectability in the Southwest Conference , only to find itself trapped and strangled by the athlete-payoff system it created
+5	The school was the first , in 1987 , to receive the NCAA 's `` death penalty '' -- two years without football -- for repeated rules violations	Given current headlines about the University of Florida , it may not be the last
+5	Mr. Meyer 's personal style was illustrated by his pinning a $ 100 bill to a high-school bulletin board on which other coaches tacked their cards	One recruiter working with Mr. Meyer was so generous with $ 10 and $ 20 bills that prospects sang `` Here Comes Santa Claus '' when he approached
+8	Paying players at SMU was no casual operation	It involved the athletics director , two different football coaching staffs , and school trustees and governors -- just about everybody , it seemed , but Donald Shields , the university 's president
+5	It involved the athletics director , two different football coaching staffs , and school trustees and governors -- just about everybody , it seemed , but Donald Shields , the university 's president	There 's a memorable passage in which Mr. Shields , having finally learned of the practice , expresses his outrage to Bill Clements , then a university governor ( and now the governor of Texas ! ) and oil man Edwin Cox , chairman of the board of trustees
+5	You stay out of it	Go run the university
+1	Mr. Whitford drew on voluminous news media coverage of the SMU scandal , and on a university internal investigation	Mr. Keteyian had to do most of his own digging on University of Nebraska football , which is , to date , high and dry as far as the NCAA is concerned
+1	Mr. Keteyian had to do most of his own digging on University of Nebraska football , which is , to date , high and dry as far as the NCAA is concerned	Unfortunately , he gets low grades as an investigative reporter , relying heavily on what Chicago 's late mayor , Richard J. Daley , called `` insinuendo
+5	There are gratuitous references to supposed romantic liaisons between Husker players and a low-level female university employee	A serious charge -- that star flanker Irving Fryar `` threw '' the 1984 Orange Bowl game by intentionally dropping a pass in the end zone -- is included , even though the Nebraska assistant coach quoted denied making it
+6	especially concerning the use of steroids	Dean Steinkuhler , a spectacularly bulked-up former lineman , confesses that he used 'em
+1	that he used 'em other Huskers did too	It 's a mystery how this could have escaped the notice of Nebraska coaches
+1	It 's a mystery how this could have escaped the notice of Nebraska coaches	Probably , it did n't
+5	Bias 's coach , Lefty Driesell , ordered the room in which Bias died to be cleaned before the police could arrive and the school 's athletics director issued false information about the academic standing of Bias and other players	Those , of course , were the responses of people with something to hide
+5	Those , of course , were the responses of people with something to hide	One wonders how other college athletic officials would behave under the same circumstances
+1	Stores in upper-income neighborhoods , for instance , will carry high-priced wines , publications such as Vanity Fair , gourmet pasta sauces , oat bran cereals and Weight Watchers and Pritikin products	Stores in Hispanic areas will stock an assortment of Spanish-language magazines , Mexican cooking items and candies
+1	Stores in Hispanic areas will stock an assortment of Spanish-language magazines , Mexican cooking items and candies	Stores in the company 's core middle-class market will get more frozen and quick-to-prepare foods and a greater selection of bottled water
+8	that the industry 's poor performance stems from its failure to give customers what they want -- rather than from increasing competition from gasoline stations and 24-hour grocery stores	Convenience store merchandise has not kept pace with current trends in consumer preferences
+8	There are an increasing number of people out there who are time-poor	Those are primarily white-collar workers , a customer segment that has historically proved elusive for convenience stores
+2	Several months ago , it also added black health and beauty aids displays to many stores	We certainly see an increasing trend toward that
+5	Several months ago , it also added black health and beauty aids displays to many stores	We certainly see an increasing trend toward that
+5	it has tested its new merchandise mix in 100 stores , with favorable results	the company 's effort will be helped by its decision last year to put point-of-sale scanners in 200 stores , allowing National Convenience to quickly track items that are selling and those that are n't
+2	after Pittston refused to sign the UMW 's national labor pact	Pittston seeks changes in health and pension benefits , among other things
+5	In addition to the forecast , the company also said it is examining potential cost cuts and reductions in overhead	The spokeswoman said the exchange would resume trading of Delmed stock today
+1	sales of Delmed products through the exclusive arrangement with National Medical accounted for 87 % of Delmed 's 1988 sales of $ 21.1 million	The current distribution arrangement ends in March 1990 , although Delmed said it will continue to provide some supplies of the peritoneal dialysis products to National Medical
+2	But the plan now is being `` reformulated	The whole structure has changed
+5	The whole structure has changed	The value of the company has changed
+2	But July 5 , a thunderstorm in Wilmington , Del. , caused Shellpot Creek to rise 15 feet , pouring 1.3 million gallons of water into basement vaults	The water destroyed about $ 75 million in currency and caked $ 4 million of coins with mud , rendering them dangerous to counting machines
+8	We kind of got caught between bureaucracies	The U.S. Mint would n't take the coin because it was n't mutilated , and the Federal Reserve Bank accepts only clean coins
+8	it is merely an `` agent '' for coins , responsible only for storage and distribution	We issue paper money ; we destroy paper money
+5	We issue paper money	we destroy paper money
+1	We issue paper money ; we destroy paper money	The coin is their problem
+9	For eight hours a day for the past two weeks , in aggregates of as much as 27,000 pounds ( equaling $ 20,000 in pennies ) , Coin Wrap has been pouring money into a cement-mixing truck	A giant heater , working like a blowtorch , causes the mud to crust and burns off any wrappers
+9	A giant heater , working like a blowtorch , causes the mud to crust and burns off any wrappers	After clanging around for an hour or so , the shiny , hot money pours out of the cement chute , where a giant vacuum sucks away the dried mud and burnt wrappers
+2	In fact , there 's only one person involved who 's happy , and that 's Floyd String , president of Coin Wrap and conceiver of the cement-truck solution	Not only did his company find $ 20,000 worth of work , but when the approach was suggested Brooks officials `` did n't laugh at me or anything
+2	Parenthood , '' this summer 's successful and amusing movie about parents and children , apparently was only the beginning	It seems that every day a new movie opens featuring a child coping with a mother 's death , or adoption , or aging parents , or pregnancy
+8	Some of our best and most idiosyncratic film makers -- from Truffaut to Fellini to Woody Allen -- have taken a cue from Chekhov	When it comes to compelling drama , there 's no place like home
+1	that the drama played out in every home will be interesting to people who live somewhere else	This is not the case
+2	This is not the case	Some diaries simply are n't worth snooping in
+8	Yet there will be people who will sob at `` Immediate Family , '' a limply constructed and offensive movie about adoption	These are the sensitive souls who can empathize with and even enjoy hearing about other people 's troubles , no matter how haltingly or predictably the sad tale is told
+5	Immediate Family '' takes the position that only rich people living in nice houses should have children	The film makers have couched this offensive idea in pretty packaging
+8	The film makers have couched this offensive idea in pretty packaging	Everyone is very nice and good-looking -- the adoptive parents ( Glenn Close and James Woods ) and the teen-age couple who decide to give up their baby for adoption ( Mary Stuart Masterson and Kevin Dillon
+5	Having exhausted all modern aids to fertility , Linda and Michael decide to adopt	The actors wear pained expressions to indicate their genuine longing for a little one
+8	Or maybe they are disgusted by the literal-minded musical score	when a character arrives at a major decision her thoughts are revealed by the sound of `` I Can See Clearly Now
+5	Lucy , of course , is pretty and smart , though uneducated	Everyone falls in love with everyone else
+2	Lucy , of course , is pretty and smart , though uneducated	Everyone falls in love with everyone else
+1	Everyone falls in love with everyone else	There is some pain , when Lucy has the baby and `` did n't know she would feel like this '' and wants to keep the baby
+8	But in the end , everything turns out for the best , in the film makers ' warped view	Like lawyers in the hostile takeover field , the baby goes where the money is
+8	The glib emotional style Mr. Goldberg has perfected on television 's `` Family Ties '' does n't benefit from magnification	His characters practically scamper through a vast range of human emotions , like travelers doing 10 cities in eight days
+3	The glib emotional style Mr. Goldberg has perfected on television 's `` Family Ties '' does n't benefit from magnification	His characters practically scamper through a vast range of human emotions , like travelers doing 10 cities in eight days
+5	His characters practically scamper through a vast range of human emotions , like travelers doing 10 cities in eight days	They pause only to register little whimpers of distress and sighs of satisfaction , like tourists cataloging the sights they 've seen from the window of a bus
+8	Finally , there is one family movie that quite eloquently explores the depth of human emotion -- only its stars are bears	For the second time , in a movie called `` The Bear , '' French director Jean-Jacques Annaud demonstrates just how powerful pictures can be
+5	For the second time , in a movie called `` The Bear , '' French director Jean-Jacques Annaud demonstrates just how powerful pictures can be	Quest for Fire '' was the first time
+8	Westinghouse expects to meet its corporate goals despite a softening in the economy	Even if the gross national product is either flat or in the growth range of 2 % to 2.5 % , `` we can handle that
+8	which is experiencing a surge of growth for the first time in years	the business will achieve higher sales this year than the company 's target goal of 8.5 %
+5	While Westinghouse has n't had a nuclear power plant order from a U.S. utility in about a decade , excess capacity is beginning to shrink	the company foresees the need for a major boost in new-generation capability throughout the 1990s
+2	While Westinghouse has n't had a nuclear power plant order from a U.S. utility in about a decade , excess capacity is beginning to shrink	the company foresees the need for a major boost in new-generation capability throughout the 1990s
+5	Westinghouse also is well positioned to sell steam turbine and gas turbine plants to independent power producers	The company 's ability to respond to energy needs world-wide will be enhanced through a recently announced venture with Mitsubishi Heavy Industries
+8	Westinghouse also expects its international sales to soon grow to 25 % of total corporate sales from 20 % last year	The company is negotiating with the Soviets to build a Thermo King truck-refrigeration plant that would produce about 10,000 units annually
+2	Westinghouse also expects its international sales to soon grow to 25 % of total corporate sales from 20 % last year	The company is negotiating with the Soviets to build a Thermo King truck-refrigeration plant that would produce about 10,000 units annually
+5	Mr. Marous said Westinghouse would own 70 % of the facility	The deal , which will involve an initial $ 20 million investment , was struck with a handshake , he added
+2	The National Institutes of Health policy would require researchers to cut financial ties with health-care businesses -- or lose their government money	Among other concerns researchers with business ties are more likely to falsify findings in order to tout new drugs
+5	The National Institutes of Health policy would require researchers to cut financial ties with health-care businesses -- or lose their government money	Among other concerns researchers with business ties are more likely to falsify findings in order to tout new drugs
+2	researchers with business ties are more likely to falsify findings in order to tout new drugs	As ties between academia and venture capital have blossomed in recent years , governmental fear of abuse has risen
+9	The NIH is asking grant recipients and others for comments on the proposed guidelines until Dec. 15	After that , it will make a final decision on the policy
+8	The guidelines could foil future arrangements similar to the deal behind Lithox Inc. , a Salem , Mass. , start-up	With $ 2.3 million , he and other investors launched Lithox last year to market a gallstone cure being developed by researchers of the University of California at San Diego The researchers , who are being financed by the Lithox funds , will receive a royalty , or percentage of sales , if their research yields a commercial product.But because the University of California , like many other universities , shares its royalties with researchers , it may disqualify itself from federal funds under the proposed guidelines
+9	For instance , Commonwealth BioVentures Inc. , a venture-capital concern , last month invested $ 600,000 to launch Amira Inc. , a Worcester , Mass. , concern that will produce pharmaceuticals	Scientists Rima Kaddurah-Daouk and Paul Schimmel conducted the initial research at the Massachusetts Institute of Technology
+5	Scientists Rima Kaddurah-Daouk and Paul Schimmel conducted the initial research at the Massachusetts Institute of Technology	While Ms. Kaddurah-Daouk left MIT to head Amira , Prof.Schimmel will continue to work at MIT , serve on Amira 's board and own a small equity stake in the company
+2	The Amira transaction is typical of the way venture-capital firms are approaching the task of commercializing biotechnology research	While universities develop the basic research , `` venture capitalists are the ones best positioned to finance its commercialization
+5	While universities develop the basic research , `` venture capitalists are the ones best positioned to finance its commercialization	This is the best way to transfer technology straight off the campuses of universities
+2	The stakes in the controversy are large	Last year , venture capitalists spent an estimated $ 600 million to finance start-up companies in medical and biotechnology businesses , according to the National Venture Capital Association , a trade group
+8	The stakes in the controversy are large	Last year , venture capitalists spent an estimated $ 600 million to finance start-up companies in medical and biotechnology businesses , according to the National Venture Capital Association , a trade group
+5	Last year , venture capitalists spent an estimated $ 600 million to finance start-up companies in medical and biotechnology businesses , according to the National Venture Capital Association , a trade group	Many of the deals involved transactions in which scientific institutions or researchers agreed to commercialize their work in return for an equity stake or royalties
+2	In many of these deals , `` venture capitalists had the inside track	Investors were willing to gamble on new technologies because `` we had exclusive rights to those technologies
+2	But under the proposed guidelines , all federally funded research will have to be reported publicly so that anyone can capitalize on the work	Without the exclusivity , most venture capitalists wo n't have the incentive to invest in such deals
+2	The proposed guidelines could also delay commercialization -- and force small companies to waste scarce capital	If start-ups ca n't have early access to research being conducted at institutions , `` we have to replicate it ourselves or do without the research
+2	that its guidelines `` should not stifle research creativity or technology transfer from the research laboratory to commercial use	Universities such as Harvard and MIT should be able to develop a way to act as brokers for the individual scientists
+8	that have already begun to surface in scientific ventures	Not long ago , scientists holding stock in Spectra Pharmaceutical Services Inc. were accused of falsifying research to boost the stock
+5	Many officials are also concerned about companies getting a `` free ride '' on government-sponsored research	A congressional subcommitee has been investigating the potential abuse from researchers holding stock in companies exploiting their research
+2	Many officials are also concerned about companies getting a `` free ride '' on government-sponsored research	A congressional subcommitee has been investigating the potential abuse from researchers holding stock in companies exploiting their research
+8	the business and scientific community is overreacting to what the agency merely meant to be `` ideas for discussion	The predictions of doom are `` premature
+6	Indeed , institutions already are taking note	On Sept. 14 , Harvard began circulating a conflict-of-interest policy statement that , in effect , would follow the NIH guidelines faithfully
+7	The University of California at San Francisco is also circulating a memo among its scientific faculty that will restrict contact with the world of business	In many other institutions , scientists are shunning contacts with venture investors until the NIH policy is settled
+2	It does n't matter whether they call it guidelines or policy	The damage is already done
+6	No doubt there is something to irk everyone in this AT & T-sponsored dramatization of Bob Woodward and Carl Bernstein 's book about Watergate	Personally , I 'm irked by its combination of ponderousness and timidity , which adds up to an utter lack of drama
+5	The Ku Klux Klan was revived in the 1920s as a national organization aimed at Catholics and Jews as well as blacks	One reason for its downfall was the murder trial of D.C. Stephenson , an Indiana leader whose reckless career is depicted in this film starring Mel Harris ( `` thirtysomething '' ) and John Heard
+5	The filing , made yesterday in U.S. Bankruptcy Court here , follows an agreement by L.J . Hooker Corp. , Merksamer 's owner , to sell the chain to management for an undisclosed price	GE Capital Corp. , a financial services subsidiary of General Electric Co. , is providing Merksamer management with $ 15 million in financing
+1	At that time , Sam Merksamer , president of the chain , angrily denied that his company was about to file	Mr. Merksamer is leading the buy-out
+2	According to executives close to the situation , Merksamer filed for Chapter 11 to speed the sale of the chain	an accord signed by the unsecured creditors of L.J . Hooker Corp. had frozen in place all of L.J . Hooker 's assets
+8	The Merksamer bankruptcy-law filing appears to supersede that agreement	By filing for Chapter 11 , the Merksamer chain will only need approval from a bankruptcy judge for the sale , not the hundreds of unsecured creditors
+5	By filing for Chapter 11 , the Merksamer chain will only need approval from a bankruptcy judge for the sale , not the hundreds of unsecured creditors	The cash from the sale will go to L.J . Hooker , but the company itself will belong to Sam Merksamer
+1	For all of this year 's explosive run-up in stock prices , Renaissance Investment Management Inc. 's computer sat on the sidelines	Now it 's on the fence
+5	Renaissance , a Cincinnati-based money manager , began buying stocks again this week with half of the $ 1.8 billion that it oversees for clients , according to people familiar with the firm 's revised strategy	It was the first time since January that Renaissance has thought stocks are worth owning
+1	but its stock purchases were thought to have begun Tuesday , timed to coincide with the maturity this week of Treasury bills owned by the firm	The other half of its portfolio is expected to remain invested in Treasury bills for the time being
+5	they believed that Renaissance 's $ 900 million buy program was carried out by PaineWebber Inc	PaineWebber bought shares Tuesday as part of a customer strategy shift
+2	When it owns stocks , Renaissance 's portfolio typically is composed of about 60 large-capitalization issues	to make buy or sell moves , the firm solicits Wall Street brokerage houses a day or so in advance , looking for the best package price to carry out the trades
+5	When it owns stocks , Renaissance 's portfolio typically is composed of about 60 large-capitalization issues	to make buy or sell moves , the firm solicits Wall Street brokerage houses a day or so in advance , looking for the best package price to carry out the trades
+9	to make buy or sell moves , the firm solicits Wall Street brokerage houses a day or so in advance , looking for the best package price to carry out the trades	The broker winning the business does n't charge commissions , but instead profits by buying or selling for less than the overall package price
+6	That puts the broker at risk if it 's trying to buy stock in a rising market	In Tuesday 's gyrating session , the Dow Jones Industrial Average fell by 80 points early in the day , but finished with less than a four-point loss
+1	At the time , the Dow Jones Industrial Average stood at about 2200	The Dow average now stands more than 20 % higher , while Renaissance 's portfolio of Treasurys produced a return of about 6 % through the first three quarters of the year
+2	The Dow average now stands more than 20 % higher , while Renaissance 's portfolio of Treasurys produced a return of about 6 % through the first three quarters of the year	The computer 's miscalculation has been painful for Renaissance
+5	that if there was such a move , it would take about three days to complete the loose ends of the transaction	During that time , a buyer with the clout of a Renaissance could end up driving up the price of stocks it was trying to buy if it tipped its hand
+2	Our { computer } model has a certain trigger point	When the computer says switch , Renaissance switches
+5	The firm has made 17 previous shifts from one type of asset to another in its 10-year history	Almost all have involved at least half and often the firm 's entire portfolio , as the computer searches for the most undervalued investment category , following a money-management style called tactical asset allocation
+5	It was the 49-year-old Mr. Evans who had moved into the offices of MGM/UA and run the company during Qintex Australia Ltd. 's aborted bid for the movie company	After MGM/UA terminated the $ 1.5 billion merger because of a dispute over a $ 50 million letter of credit , Qintex Entertainment -- which is 43 % -owned by Qintex Australia -- found itself facing problems of its own
+5	On Oct. 19 , Qintex Entertainment was about to default on a $ 5.9 million payment owed to MCA Inc. in connection with the distribution of a television program	Qintex Entertainment was depending on Qintex Australia to arrange financing
+2	he believed Qintex Australia would n't be forthcoming	He recommended that the company file for protection under Chapter 11 of the U.S. Bankruptcy Code before the MCA deadline , according to a source familiar with the sessions
+2	But a majority of the board , which includes three members from the Australian company , overrode him	Mr. Evans resigned
+5	and asked Mr. Evans to stay on	Mr. Evans told the board he needed the weekend to think about it
+5	Mr. Evans told the board he needed the weekend to think about it	Mr. Evans could n't be reached yesterday for comment
+5	Last Monday , Qintex Australia announced a restructuring plan and said it would sell off assets	Last week the company indicated it would cut back on the working capital it would supply to Qintex Entertainment
+5	On top of this , the traveler who converts his dollars into foreign currency before the trip starts will lose interest from the day of conversion	At the end of the trip , any unspent foreign exchange will have to be converted back into dollars , with another commission due
+5	The card holder will pay the modest 1 % fee only on the amounts actually needed	Typically , he will be billed only several weeks after the expenditure
+1	Of the total purchase price , $ 50 million cash and $ 30 million in stock ( nearly 1.8 million shares ) would be paid to buy the existing 700-room Marina Hotel & Casino from Southwest Securities , a Nevada limited partnership	The remaining properties to be acquired are the Tropicana Country Club & Golf Course , a facility jointly owned by Ramada Inc. , of Phoenix , Ariz. , and the Jaffe family , and a small parcel owned by MGM Grand director James D. Aljian
+5	that will include 5,000 rooms and 85,000 square feet of casino space	The facility will be marketed toward families
+5	Assets of the 400 taxable funds tracked by IBC/Donoghue 's Money Fund Report jumped to $ 351.2 billion in the week ended Tuesday	Assets soared $ 4.5 billion in the previous week
+1	Assets of the 400 taxable funds tracked by IBC/Donoghue 's Money Fund Report jumped to $ 351.2 billion in the week ended Tuesday	Assets soared $ 4.5 billion in the previous week
+8	Meanwhile , the average yield on taxable funds dropped nearly a tenth of a percentage point , the largest drop since midsummer	The average seven-day compound yield fell to 8.47 % , its lowest since late last year , from 8.55 % the week before , according to Donoghue 's
+2	Lower yields are just reflecting lower short-term interest rates	Money funds invest in such things as short-term Treasury securities , commercial paper and certificates of deposit , all of which have been posting lower interest rates since last spring
+1	The yield on six-month Treasury bills sold at Monday 's auction , for example , was just 7.77 %	The average yield on six-month CDs of $ 50,000 or less at major banks was 7.96 % in the week ended Tuesday , according to Banxquote Money Markets , a New York information service
+8	One way that money fund managers boost yields in a declining rate environment is by extending the maturities of their investments	The average maturity of the taxable funds that Donoghue 's follows increased by two days in the latest week to 40 days , its longest since August
+8	when short-term interest rates were moving steadily upward	The average seven-day compound yield of the funds reached 9.62 % in late April
+8	The highest-yielding funds are still above 9 %	The top-performing fund in the latest week was Dreyfus Worldwide Dollar , with a seven-day compound yield of 9.45 %
+2	The top-performing fund in the latest week was Dreyfus Worldwide Dollar , with a seven-day compound yield of 9.45 %	The fund invests heavily in dollar-denominated money-market securities overseas
+5	The fund invests heavily in dollar-denominated money-market securities overseas	It is currently waiving management fees
+1	The average seven-day simple yield of the 400 funds fell to 8.14 % from 8.21 %	The average 30-day simple yield slid to 8.22 % from 8.26 %
+10	The average seven-day simple yield of the 400 funds fell to 8.14 % from 8.21 %	The average 30-day simple yield slid to 8.22 % from 8.26 %
+8	Many small investors are facing a double whammy this year	They got hurt by investing in the highly risky junk bond market
+8	where a 25 % leveraged portfolio in effect allows investors to have 125 % of their money working for them	The strategy boosts current yield by putting more bonds into the portfolio
+2	That 's really where the leverage hurt	Share prices performed even worse than the funds ' asset values
+1	which are n't publicly traded and are n't allowed to use leverage at all	Leverage is used only by some of the closed-end funds
+8	Consider the New America High Income Fund	With a leveraged position of about 45 % , the fund 's share price has plunged 28.5 % so far this year
+5	With a leveraged position of about 45 % , the fund 's share price has plunged 28.5 % so far this year	That 's worse than the price drop sustained by the bonds in its portfolio , whose total return ( bond-price changes plus interest ) has amounted to a negative 6.08 %
+1	Many investors are unaware their funds have borrowed to speculate in such a risky market	If someone actually sat down and thought about what they were being sold they might shy away
+2	In a typical leverage strategy , a fund tries to capture the spread between what it costs to borrow and the higher return on the bonds it buys with the borrowed money	If the market surges , holders can make that much more profit
+2	If the market surges , holders can make that much more profit	the leverage effectively acts as an interest-free margin account for investors
+6	Fund managers , for their part , defend their use of leverage	Carl Ericson , who runs the Colonial Intermediate High Income Fund , says the fund 's 25 % leverage has jacked up its interest income
+2	the fund 's 25 % leverage has jacked up its interest income	As long as I am borrowing at 9.9 % and each { bond } yields over that , it enhances the yield
+8	the fund 's 25 % leverage has jacked up its interest income	As long as I am borrowing at 9.9 % and each { bond } yields over that , it enhances the yield
+8	Yet some funds have pulled in their horns	that it plans to reduce its leverage position by buying back $ 5 million in preferred stock and notes from investors
+5	that it plans to reduce its leverage position by buying back $ 5 million in preferred stock and notes from investors	The fund made a similar move earlier this year
+1	the fund 's recent performance `` illustrates what happens in a leveraged product '' when the market does n't cooperate	When the market turns around it will give a nice picture '' of how leverage can help performance
+6	But a few funds have taken other defensive steps	Some have raised their cash positions to record levels
+2	Some have raised their cash positions to record levels	High cash positions help buffer a fund when the market falls
+5	Prospect Street High Income Portfolio , for instance , now holds about 15 % in cash and equivalents , nearly quintuple the amount it held earlier this year	the fund , which is 40 % leveraged , has maintained a `` substantial cushion '' between its borrowing costs and the yields of the portfolio 's bonds
+2	Prospect Street High Income Portfolio , for instance , now holds about 15 % in cash and equivalents , nearly quintuple the amount it held earlier this year	the fund , which is 40 % leveraged , has maintained a `` substantial cushion '' between its borrowing costs and the yields of the portfolio 's bonds
+2	the fund , which is 40 % leveraged , has maintained a `` substantial cushion '' between its borrowing costs and the yields of the portfolio 's bonds	I do n't want to be in a position to have to sell
+6	Other funds have recently sold weak junk bonds to raise cash	At the 50 % -leveraged Zenith Income Fund , portfolio manager John Bianchi recently dumped Mesa Petroleum , Wickes and Horsehead Industries , among others , to raise his cash position to a record 15 %
+5	That 's a problem because cash is n't earning us very much money	This is the most difficult market that I 've been involved in
+2	We 're looking at the leverage factor every day	At some point , if we are unable to cover our leveraged cost we 're going to have to make a move
+5	South Gardens , as the Bartlett scheme is called , will occupy the last 3.5 acres of open space at the southwest tip of Manhattan	It could cost taxpayers $ 15 million to install and BPC residents $ 1 million a year to maintain
+5	It could cost taxpayers $ 15 million to install and BPC residents $ 1 million a year to maintain	South Gardens , as now planned , will die from congestive garden design
+1	I do n't view this as a landscape	I view this as a building
+2	The third principal in the South Gardens adventure did have garden experience	The firm of Bruce Kelly/David Varnell Landscape Architects had created Central Park 's Strawberry Fields and Shakespeare Garden
+6	The third principal in the South Gardens adventure did have garden experience	The firm of Bruce Kelly/David Varnell Landscape Architects had created Central Park 's Strawberry Fields and Shakespeare Garden
+2	After four years , though , the South Gardens design is 100 % uncollaborated Jennifer Bartlett	She has done little more than recycle her standard motifs -- trees , water , landscape fragments , rudimentary square houses , circles , triangles , rectangles -- and fit them into a grid , as if she were making one of her gridded two-dimensional works for a gallery wall
+2	But for South Gardens , the grid was to be a 3-D network of masonry or hedge walls with real plants inside them	In a letter to the BPCA , kelly/varnell called this `` arbitrary and amateurish
+5	But for South Gardens , the grid was to be a 3-D network of masonry or hedge walls with real plants inside them	In a letter to the BPCA , kelly/varnell called this `` arbitrary and amateurish
+2	In a letter to the BPCA , kelly/varnell called this `` arbitrary and amateurish	The landscape architects were expelled from the garden in July
+9	In a letter to the BPCA , kelly/varnell called this `` arbitrary and amateurish	The landscape architects were expelled from the garden in July
+2	After that , the layout had been easy	I 've always relied heavily on the grid and found it never to fail
+5	As she put it in a 1987 lecture at the Harvard Graduate School of Design : `` I have designed a garden , not knowing the difference between a rhododendron and a tulip . '' Moreover , she proclaimed that `` landscape architects have been going wrong for the last 20 years '' in the design of open space.And she further stunned her listeners by revealing her secret garden design method : Commissioning a friend to spend `` five or six thousand dollars . . . on books that I ultimately cut up . '' After that , the layout had been easy . `` I 've always relied heavily on the grid and found it never to fail	Ms. Bartlett told her audience that she absolutely did not believe in compromise or in giving in to the client `` because I do n't think you can do watered-down versions of things
+1	here and there are simple architectural forms , a whimsical jet of water , a conceit of topiary or tartan plaid , and chairs of every sort to drag around	At the core of it all is a love for plants
+2	Plant lovers who studied the maquette were alarmed	They looked at the miniature and saw a giant folly
+2	a giant folly	Ms. Bartlett 's little rooms left little room for plants or people
+5	Ms. Bartlett 's little rooms left little room for plants or people	Kelly/Varnell had put South Gardens ' carrying capacity at four people per room , or about 100 humans overall
+5	Kelly/Varnell had put South Gardens ' carrying capacity at four people per room , or about 100 humans overall	This mincemeat of tiny gridlocked squares was inspired by the artist 's own digs : `` My loft was 50 by 100 feet , so 50 feet by 50 feet seemed like a good garden room
+6	Inside the grid were 24 of these plant cells jammed full of clutter	One she made into a topiary rec room , replete with plants shaped into a Barcalounger , TV , piano and chairs
+5	One she made into a topiary rec room , replete with plants shaped into a Barcalounger , TV , piano and chairs	In another , she requisitioned topiary MX missile cones -- costing $ 10,000 each -- in heights up to 20 feet
+5	One she made into a topiary rec room , replete with plants shaped into a Barcalounger , TV , piano and chairs.In another , she requisitioned topiary MX missile cones -- costing $ 10,000 each -- in heights up to 20 feet	Another she stuffed with eight `` rectilinear hedges '' for a topiary geometry lesson in the right-angling of plants
+5	One she made into a topiary rec room , replete with plants shaped into a Barcalounger , TV , piano and chairs.In another , she requisitioned topiary MX missile cones -- costing $ 10,000 each -- in heights up to 20 feet.Another she stuffed with eight `` rectilinear hedges '' for a topiary geometry lesson in the right-angling of plants	In the herbal lounge she specified a `` plaid knot garden '' decor
+5	One she made into a topiary rec room , replete with plants shaped into a Barcalounger , TV , piano and chairs.In another , she requisitioned topiary MX missile cones -- costing $ 10,000 each -- in heights up to 20 feet.Another she stuffed with eight `` rectilinear hedges '' for a topiary geometry lesson in the right-angling of plants.In the herbal lounge she specified a `` plaid knot garden '' decor	She ordered the foyer done in a different plaid planting
+5	Inside the grid were 24 of these plant cells jammed full of clutter.One she made into a topiary rec room , replete with plants shaped into a Barcalounger , TV , piano and chairs.In another , she requisitioned topiary MX missile cones -- costing $ 10,000 each -- in heights up to 20 feet.Another she stuffed with eight `` rectilinear hedges '' for a topiary geometry lesson in the right-angling of plants.In the herbal lounge she specified a `` plaid knot garden '' decor.She ordered the foyer done in a different plaid planting , and made the landscape architects study a book on tartans . In one garden roomette she implanted a 43-foot square glass cube meant to show off a plaid tile floor conceit , a `` zinc sink , '' a `` huge fishbowl with carp '' and a `` birdcage with cockatoos	Next door she put a smaller plaid-floored glass house , where , she suggested , a flat of strawberries might be displayed in the dead of winter
+1	It would demand the full-time skills of a battalion of topiary barbers , rosarians , orchardists and arborists	Ms. Bartlett blithely suggested calling upon `` semi-skilled garden club workers for maintenance
+2	Then , to make these gardenettes quite literally rooms , Ms. Bartlett had thrown up windowless walls ( brick , lattice , hedge ) eight to 10 feet tall , casting her interiors into day-long Stygian shade	It was hard to see how photosynthesis would ever happen in South Gardens without decking the walls in a Christmas-like array of Gro-Lites
+5	Ms. Bartlett threw up yet another wall , this time concrete , this time 10 1/2 feet tall	She ran it the length of the South Gardens riverfront , blotting out the city 's great natural water features , the harbor and the river
+5	Manhattan Community Board 1 passed a resolution against South Gardens	The Parks Council wrote the BPCA that this `` too ` private ' . . . exclusive , '' complex and expensive `` enclosed garden . . . belongs in almost any location but the waterfront
+5	Manhattan Community Board 1 passed a resolution against South Gardens.The Parks Council wrote the BPCA that this `` too ` private ' . . . exclusive , '' complex and expensive `` enclosed garden . . . belongs in almost any location but the waterfront	Lynden B. Miller , the noted public garden designer who restored Central Park 's Conservatory Garden , recalls her reaction to the South Gardens model in light of the public garden she was designing for 42nd Street 's Bryant Park : `` Bryant Park , as designed in 1933 , failed as a public space , because it made people feel trapped.By removing the hedges and some walls , the Bryant Park Restoration is opening it up.It seems to me the BPCA plan has the potential of making South Gardens a horticultural jail for people and plants
+1	Bryant Park , as designed in 1933 , failed as a public space , because it made people feel trapped	By removing the hedges and some walls , the Bryant Park Restoration is opening it up
+2	the decidedly `` questionable safety of . . . a complex garden of endless hiding places	The 8 ft. hedges which obstruct views in and out of small ` rooms ' insure . . . that this garden will be a potential breeding ground for crime
+1	They then addressed the decidedly `` questionable safety of . . . a complex garden of endless hiding places.The 8 ft. hedges which obstruct views in and out of small ` rooms ' insure . . . that this garden will be a potential breeding ground for crime	At Harvard , Ms. Bartlett had declared : `` There are going to be problems with safety . . . I 'm not going to address questions of safety
+8	Unhappily , our gardeners for ages have suffered at the hands of the decorative artist when applying his ` designs ' to the garden	It is this adapting of absurd ` knots ' and patterns from old books to any surface where a flower garden has to be made that leads to bad and frivolous design -- wrong in plan and hopeless for the life of plants
+2	Mr. Angell is incorrect when he states that the Soviet Union 's large gold reserves would give it `` great power to establish credibility	During the latter part of the 19th century , Russia was on a gold standard and had gold reserves representing more than 100 % of its outstanding currency , but no one outside Russia used rubles
+8	Mr. Angell is incorrect when he states that the Soviet Union 's large gold reserves would give it `` great power to establish credibility	During the latter part of the 19th century , Russia was on a gold standard and had gold reserves representing more than 100 % of its outstanding currency , but no one outside Russia used rubles
+2	The success of the British gold standard was due to independent private banking and common law , rather than the choice of gold for valuing the currency	It is no coincidence that from 1844 to 1914 , when the Bank of England was an independent private bank , the pound was never devalued and payment of gold for pound notes was never suspended , but with the subsequent nationalization of the Bank of England , the pound was devalued with increasing frequency and its use as an international medium of exchange declined
+2	These rate indications are n't directly comparable	lending practices vary widely by location
+8	Circuit breakers , designed to give the markets a breather in cases of sharp price movements , curb trading of futures or stocks at various trigger points	At certain points during the Friday the 13th drop , circuit breakers kicked in on the futures market , slowing trading at times
+1	At certain points during the Friday the 13th drop , circuit breakers kicked in on the futures market , slowing trading at times	A circuit breaker that would have closed down the New York Stock Exchange was n't tripped
+2	Rep. Edward Markey ( D. , Mass . ) , chairman of the House Telecommunications and Finance Subcommittee , is pushing the idea of a circuit breaker for computer-driven program trading in hopes that would curb `` turmoil '' in the marketplace	that program-trading by roughly 15 big institutions is pushing around the markets and scaring individual investors
+1	Mr. Breeden did n't reject the proposal	After the SEC study of the drop is completed , he said , `` I 'm perfectly happy to work with this committee . . . in identifying whether we need other devices , '' such as a program-trading curb
+5	Mr. Breeden backed most of the provisions in a market-reform bill that the SEC brought to the subcommittee last year under then-chairman David Ruder	The measure is expected to move through this Congress
+1	that uncertainty over when the SEC might act could worsen volatility in the markets	that the current circuit-breaker system allows investors to know `` precisely when and where any trading interruptions will occur and how long they will last
+2	One would force brokerage houses to provide the SEC detailed information about loans made by their holding companies	Such loans often are used to finance leveraged buy-outs , and the agency is worried that a sharp market drop could create capital problems for the firms
+2	to require large traders to report transactions on a systematic basis	That information is critical to reconstructing sharp market moves , such as the one nearly two weeks ago
+5	The centers comprise a total of about 1.6 million square feet of retail space	They are spread around the country and include locations in California , Florida , Washington and Arizona
+5	Mr. Pilevsky , who heads Philips International Holding Corp. , a New York-based real estate company , owns more than a dozen other shopping centers in which K mart is a tenant	The company is active in office and residential development in New York
+5	K mart runs 2,200 K mart stores , primarily in leased facilities	The company typically sells the centers it develops , but has usually sold only one or several at a time
+8	Motorola is fighting back against junk mail	So much of the stuff poured into its Austin , Texas , offices that its mail rooms there simply stopped delivering it
+2	that its mail rooms there simply stopped delivering it	Now , thousands of mailers , catalogs and sales pitches go straight into the trash
+8	We just do n't have the staff to { deliver } it , nor do we have the space or the time	It 's the overload problem and the weight problem we have
+2	Motorola is in good company	Businesses across the country are getting fed up with junk mail
+5	Businesses across the country are getting fed up with junk mail , and some are saying they just are n't going to take it anymore -- literally	the number is growing
+8	Anybody with a mailbox can answer that : sheer , overwhelming , mind-numbing volume	According to the Direct Marketing Association , total direct mail -- to both businesses and consumers -- jumped 50 % to 65.4 billion pieces in 1988 from five years earlier
+5	According to the Direct Marketing Association , total direct mail -- to both businesses and consumers -- jumped 50 % to 65.4 billion pieces in 1988 from five years earlier	it 's growing even faster
+2	The direct-mail industry , not surprisingly , is fuming at the injustice of it all	After all , this is the industry that has a hard enough time getting any respect , that is the butt of so many jokes that television 's `` L.A.Law '' portrays direct-mail-mogul David as short , bald , intensely nerdy , and unremittingly boring
+5	to junk any bulk mail that was n't addressed to an individual	Magazines are n't delivered at all , even if an individual 's name is listed
+8	At Air Products , meanwhile , the mailroom staff opens junk mail and often throws it away -- even if addressed to an individual	If they get 50 packets of something , they open one , see what it says , throw 48 away and send two to people or departments they think are appropriate
+8	when General Motors -- one of the country 's largest companies and a big direct-mail user itself -- entered the junk-mail battle	As of March 1 , its Flint office , with about 2,500 employees , stopped delivering bulk mail and non-subscription magazines
+5	As of March 1 , its Flint office , with about 2,500 employees , stopped delivering bulk mail and non-subscription magazines	Employees were told that if they really wanted the publications , they would have to have them sent home instead
+8	Direct-mail executives see GM 's stand as an ominous sign	Why anyone would want to close themselves off { from direct mail } , a priori , does n't make any sense , '' says Michael Bronner of Bronner Slosberg Associates , a Boston directmail firm . `` It smacks of big brotherism.They 're going to decide what their employees can or can not read
+2	Why anyone would want to close themselves off { from direct mail } , a priori , does n't make any sense	It smacks of big brotherism
+2	It smacks of big brotherism	They 're going to decide what their employees can or can not read
+2	The practice is , however , legal in most cases	the Postal Service 's only job is to deliver the mail to the mail room ; once it gets there , a company can do with it what it wishes
+0	The junk-mail titans , ever optimistic , are looking for ways around the problem	So far it has n't had any noticeable effect on response rates
+6	they 're trying to cut back on the clutter that created the situation in the first place	Among other things , the industry is trying to come up with standardized business lists that cut down on duplications
+8	Among other things , the industry is trying to come up with standardized business lists that cut down on duplications	We 're going to have to mail a lot less and a lot smarter
+5	The ad campaign , created by Saatchi & Saatchi 's Backer Spielvogel Bates agency , is an extension of the auto company 's `` Cars That Make Sense '' campaign , which emphasized affordability	TV ads plugging the company 's new V-6 Sonata and its souped-up Excel subcompact will begin appearing Monday
+9	One spot shows a Sonata next to a rival midsized car , and an announcer says , `` Listen to what they 're saying about the Hyundai Sonata	As the announcer reads favorable quotes about the model from Motor Trend and Road & Track magazines , the other car , which is white , slowly turns green
+5	As the announcer reads favorable quotes about the model from Motor Trend and Road & Track magazines , the other car , which is white , slowly turns green	No wonder the competition 's green with envy , '' the announcer says
+9	As the announcer reads favorable quotes about the model from Motor Trend and Road & Track magazines , the other car , which is white , slowly turns green	No wonder the competition 's green with envy , '' the announcer says
+8	promoting its Chivas Regal and Crown Royal brands	The Chivas ad illustrates -- via a series of pullouts -- the wild reactions from the pool man , gardener and others if not given Chivas for Christmas
+5	The Chivas ad illustrates -- via a series of pullouts -- the wild reactions from the pool man , gardener and others if not given Chivas for Christmas	The three-page Crown Royal ad features a black-and-white shot of a boring holiday party -- and a set of colorful stickers with which readers can dress it up
+5	Senate Majority Leader George Mitchell ( D. , Maine ) was confident he had enough votes to block the maneuver on procedural grounds , perhaps as soon as today	Mr. Packwood all but conceded defeat , telling Mr. Mitchell : `` I sense at this stage you may have the votes
+3	Senate Majority Leader George Mitchell ( D. , Maine ) was confident he had enough votes to block the maneuver on procedural grounds , perhaps as soon as today	Mr. Packwood all but conceded defeat , telling Mr. Mitchell : `` I sense at this stage you may have the votes
+0	The two lawmakers sparred in a highly personal fashion , violating usual Senate decorum	Their tone was good-natured
+8	advocates of the tax cut less optimistic about success	There is a one-out-of-three shot of getting it this year , '' said Sen. David Boren of Oklahoma , a leading Democratic proponent of cutting the capital-gains tax
+5	There is a one-out-of-three shot of getting it this year , '' said Sen. David Boren of Oklahoma , a leading Democratic proponent of cutting the capital-gains tax	He called the battle `` uphill
+8	Other Democrats who favor a capital-gains cut are even more pessimistic	There will be no capital-gains bill this year , '' said Sen. Dale Bumpers ( D. , Ark
+5	There will be no capital-gains bill this year	I 'm probably not going to vote for any capital-gains proposal
+2	I 'm probably not going to vote for any capital-gains proposal	The IRA portion ( of the Packwood-Roth plan ) is irresponsible
+8	to which it has become a purely political battle between President Bush and Senate Majority Leader Mitchell	Mr. Mitchell has made clear to his wavering colleagues that the issue is important to him personally
+2	Today , Sen. Mitchell and other leading Democrats plan to turn up the heat again by holding a news conference to bash the proposal	that the richest 100 taxpayers got an average benefit from the capital-gains differential of $ 13 million each in 1985 , the last year for which figures are available
+2	that there are numerous other important measures Democrats badly wanted passed -- such as the scaling back of a controversial catastrophic health-care plan for the elderly -- that might provide the president leverage in cutting deals with Democrats	A capital-gains tax cut might be paired with such measures to help ensure passage
+5	A capital-gains tax cut might be paired with such measures to help ensure passage	Other possibilities include a child-care initiative and an increase in the minimum wage
+8	that reigned at the agency	Before an inventory in 1984 that showed the `` disappearance '' of 944 coins valued at about 2.9 million French francs ( about $ 465,000 ) , there had n't been any stock-taking since 1868
+8	El Salvador is destroying more than 1.6 million pounds of food that had rotted in government warehouses	The state Supply Regulator Institute is to burn rice , corn and beans that spoiled because of neglect and corruption in the previous Christian Democrat government
+8	because of neglect and corruption in the previous Christian Democrat government	During the past administration the foodstuffs were first bought by the institute , then sold at low prices to `` unscrupulous businessmen '' who resold them to the institute at inflated prices
+5	A black-draped cruise liner sailed into Naples yesterday bringing 800 Libyans threatening vengeance if Italy refuses to pay compensation for more than 30 years of colonial rule	Another 250 Libyans were already in Italy to stage a day of mourning for victims of Italy 's colonial rule between 1911 and 1943
+8	A black-draped cruise liner sailed into Naples yesterday bringing 800 Libyans threatening vengeance if Italy refuses to pay compensation for more than 30 years of colonial rule.Another 250 Libyans were already in Italy to stage a day of mourning for victims of Italy 's colonial rule between 1911 and 1943	Libya 's revolutionary Committees have threatened attacks on Italians if Rome does n't pay compensation
+2	the project could jeopardize costly efforts to stop , or slow down , the subsidence that makes Venice subject to regular and destructive flooding	The council unanimously opposed the idea of AGIP pumping out the methane gas and swiftly appealed to the company and to Prime Minister Giulio Andreotti
+2	AGIP refused to reconsider	It 's unlikely extracting the gas will cause subsidence
+5	Net income includes an extraordinary gain of about $ 100,000 from the reversal of bad debt and interest income	Revenue was about $ 4.5 million
+1	Net income includes an extraordinary gain of about $ 100,000 from the reversal of bad debt and interest income.Revenue was about $ 4.5 million	In the 1988 third quarter , the company posted a net loss of $ 876,706 , or 22 cents a share , on revenue of about $ 5.1 million
+1	The Epilepsy Institute is not just a patient-advocacy organization	It is primarily a certified outpatient treatment facility providing comprehensive services to people with epilepsy and their families
+1	It is primarily a certified outpatient treatment facility providing comprehensive services to people with epilepsy and their families	The institute 's advocacy efforts are based on the needs of the population it serves and represents
+2	that a growing number of critics are challenging the FDA bioequivalence-therapeutic-equivalence equation	it is based on an assumption that has not yet been proven in valid tests
+1	We do not depend on pharmaceutical companies for our support	The institute has governmental service contracts for the provision of direct patient services ; collects patient fees ; receives money through contributions from individuals , foundations and bequests
+5	The institute has governmental service contracts for the provision of direct patient services	collects patient fees
+5	The institute has governmental service contracts for the provision of direct patient services ; collects patient fees	receives money through contributions from individuals , foundations and bequests
+5	The institute has governmental service contracts for the provision of direct patient services ; collects patient fees ; receives money through contributions from individuals , foundations and bequests	The funds received from pharmaceutical firms are used to offset physician symposiums , and these symposiums do not stress any particular medication or manufacturer
+2	But let us not confuse profits of big business masquerading as concerns for people 's health care or for the cost	For whom is the saving ? Surely not to people with epilepsy who depend on the same levels of medication in their bloodstream daily to maintain seizure control
+5	The man-made inferno will tower over a man-made lagoon with more than four acres of pools , grottoes and waterfalls	Visitors , whisked from the Strip on a moving walkway , will glide over a habitat for rare white tigers , which will star in performances by the famed illusionist team of Siegfried & Roy
+5	Visitors , whisked from the Strip on a moving walkway , will glide over a habitat for rare white tigers , which will star in performances by the famed illusionist team of Siegfried & Roy	Nearby , six dolphins will frolic in a 1.5 million-gallon saltwater aquarium
+5	At the core of all this stands a hotel	In the lobby behind its nine-story , orchid-strewn atrium , a 20,000-gallon aquarium will come alive with sharks , stingrays , angelfish , puffers and other creatures of the deep
+5	This is the Mirage , a $ 630 million island-fantasy hotel-casino now being completed for opening in November by Golden Nugget Inc	It 's the most stunning example of Las Vegas 's concerted effort to transform itself into a world-famous vacation resort for families as well as gamblers
+8	It 's the most stunning example of Las Vegas 's concerted effort to transform itself into a world-famous vacation resort for families as well as gamblers	Las Vegas has seen nothing quite like it before
+1	Not for 15 years has a big new hotel-casino opened here	Now the Mirage and Circus Circus Enterprises Inc. 's $ 290 million Excalibur are going up
+5	Smaller projects swell the figure to at least $ 2.5 billion	Still other projects that have been announced but not yet started could put expenditures above $ 3 billion over the next few years
+2	the Mirage and other projects will help Las Vegas attract a whole new generation of visitors	If you create a wonderment , if you create something so exciting that the public dreams of being part of it , then they 'll come
+2	The projects already under construction will increase Las Vegas 's supply of hotel rooms by 11,795 , or nearly 20 % , to 75,500	By a rule of thumb of 1.5 new jobs for each new hotel room , Clark County will have nearly 18,000 new jobs
+2	Hotel-casino operators play down the possibility of a labor shortage	After all , 40,000 newcomers a year are settling in the Las Vegas Valley
+1	Traffic is certainly a concern , as is pollution , water and an adequate labor market	City fathers have managed to push through projects that are crucial for tourist growth , such as the expansion of McCarran International Airport to accommodate the 44 % of Las Vegas tourists who fly here
+0	Traffic is certainly a concern , as is pollution , water and an adequate labor market	City fathers have managed to push through projects that are crucial for tourist growth , such as the expansion of McCarran International Airport to accommodate the 44 % of Las Vegas tourists who fly here
+2	City fathers have managed to push through projects that are crucial for tourist growth , such as the expansion of McCarran International Airport to accommodate the 44 % of Las Vegas tourists who fly here	This year , by one means of transport or another , more than 18 million people will visit the city
+2	The expansion will set off a marketing war among the big hotel-casinos	Las Vegas promises , or threatens , to become a giant carnival , with rooms to be had for $ 45 a day or less , for visitors uninspired solely by gambling
+0	Caesars World Inc. plans to defend its august reputation by sinking $ 190 million into its opulent Caesars Palace , next door to the new Mirage , and adding a $ 100 million shopping area reminiscent of Rodeo Drive	The Palace , with its marble fountains and toga parties for high rollers , is already well-known for its Caesarean theme
+1	Golden Nugget , Drexel Burnham Lambert Inc. 's first casino client , has borrowed on more than $ 600 million worth of mortgage notes to build the Mirage	Other casino owners , Circus Circus among them , are financing their expansion with their own cash and revolving credit lines from local lenders such as First Interstate Bank of Nevada
+8	The growth of Las Vegas tourism in recent years persuades lenders that they will	Casino revenues and hotel occupancy rates are high
+6	Casino revenues and hotel occupancy rates are high	Last year , the tourists left $ 3 billion with the area 's casinos , nearly 10 % more than in 1987
+5	If you build a better mousetrap , it will catch more mice , '' says Fred Benninger , chairman of MGM Grand	Ellen Cokely , a tourist from Alton , Ill. , seems inclined to agree
+8	Ellen Cokely , a tourist from Alton , Ill. , seems inclined to agree	I 'd love it if my daughter had something else to do here , '' says Ms. Cokely
+9	Two generations ago , Dad came to Las Vegas by himself for a little diversion	One generation ago , Mom joined Dad
+9	One generation ago , Mom joined Dad	Now , in the ` 90s , we 're headed toward a total resort environment
+1	One generation ago , Mom joined Dad	Now , in the ` 90s , we 're headed toward a total resort environment
+1	Only a decade or so ago , casino managers balked at in-room TV sets and other fripperies that distracted from gambling	Casinos today offer bowling alleys , water parks , golf courses , tennis courts , lush swimming pools and other diversions , and more such facilities are being designed
+5	For now , however , the naysayers ' voices are drowned by the roar of cement mixers and the clanging of construction cranes along the Strip	but at 7:30 on a recent morning , when construction choked traffic at the famous Four Corners intersection to one lane , a taxi passenger found it faster to abandon the cab and walk to her destination
+5	The ferocious competition probably will drive some poorly managed properties into bankruptcy or new ownership	It has happened before
+6	It has happened before	The Dunes , the Aladdin and the Riviera were all acquired by the present owners from bankruptcy proceedings spawned by the last recession , in the early 1980s
+8	Yet that has n't discouraged investors	Some have bought big chunks of Strip property for what may turn into another wave of building
+6	Some have bought big chunks of Strip property for what may turn into another wave of building	Atlantic City casino owner Donald Trump is scouting the Las Vegas market with an eye toward building an appropriately spectacular place
+8	Even before the huge new projects began , the Strip 's recent expansion squeezed smaller competitors	Many blue-collar customers of downtown 's no-frills gambling spots have been lured to the Strip or to Laughlin , Nev. , a Colorado River town catering to snowbirds and the recreational-vehicle crowd
+8	Hotel expansion and an influx of more-discriminating tourists have hurt motels	Since 1979 , the number of motel rooms has fallen by 17,000
+1	Many people here expect a room-rate war as the new projects open	There 's probably going to be some pressure on occupancy and room rates over the next year , but after that you should see the market return to 80 % -plus occupancy and regular rates , '' says Paul Rubeli , casino executive at Ramada Inc
+2	Skeptics wonder whether mega-resorts such as the Mirage will be able to squeeze a profit from their cash flow	The Mirage will cost at least $ 1 million a day to operate
+8	Skeptics wonder whether mega-resorts such as the Mirage will be able to squeeze a profit from their cash flow	The Mirage will cost at least $ 1 million a day to operate
+2	The Mirage will cost at least $ 1 million a day to operate	but some securities analysts doubt it
+5	but some securities analysts doubt it	that among large existing properties Bally Manufacturing Corp. 's Bally Grand hotel-casino probably will be hardest hit among major properties
+1	Competitors and analysts say that among large existing properties Bally Manufacturing Corp. 's Bally Grand hotel-casino probably will be hardest hit among major properties	Bally officials decline to discuss the situation
+0	Bally bought the former MGM Grand hotel-casino from Kirk Kerkorian four years ago	Only now is it undergoing a badly needed facelift
+2	Only now is it undergoing a badly needed facelift	Its parking lot is inconvenient , the MGM lion's-head logo still appears in places , and customers still call it the Grand , rather than the Bally Grand
+5	Its parking lot is inconvenient , the MGM lion's-head logo still appears in places , and customers still call it the Grand , rather than the Bally Grand	but they 're going to have some real problems when everyone around them opens
+2	Any hotel-casino without a strong identity will get whacked by the new competition	If you do n't know what you are , bigger wo n't make you better But it 'll sure make you poorer
+8	for its ability to vacuum cash from the pockets of vacationing families	The Circus Circus lures them with low room rates , inexpensive buffets and entertainment for children at no extra charge
+2	The company 's Excalibur will also appeal to families , of course	Its castle will be `` the most compelling piece of folk architecture ever built
+2	Instead , they are spending to reinforce the identity that they believe attracts their customers	More rooms are n't the answer for us
+8	More rooms are n't the answer for us , '' says Caesars World chairman Henry Gluck	While his company 's hotel is building a retail complex in Beverly Hills style and redoing existing rooms , it has decreased the number of its rooms
+5	it has decreased the number of its rooms	Some have been combined into suites for the high rollers
+2	Other , smaller concerns are also pursuing market niches -- Hawaiian tourists , for example , or the local trade	There 's still room for boutique properties
+2	There 's still room for boutique properties	Off the Strip , MarCor is building the Rio , a hotel-casino with a Brazilian theme and only 430 rooms -- all of them suites
+0	Despite the proliferation of tourist distractions , Las Vegans have n't forgot that gambling is still what the town is all about	The days when when the thrust of casinos was all high rollers , with no windows and clocks and lots of red and black decor , are gone
+2	But 93 % of tourists still come for gambling	We ca n't lose sight of that
+5	NORTH SIDE SAVINGS BANK directors declared an initial dividend of 10 cents a share , payable Dec. 5 to stock of record Nov. 21	The Floral Park , N.Y. , thrift has a strong capital-to-assets ratio , said Vice President Michael D.N . Confer
+9	Every Bill which shall have passed the House of Representatives and the Senate , shall , before it becomes a Law , be presented to the President of the United States	If he approve he shall sign it
+5	President Bush told reporters a few months ago that he was looking for the right test case to see whether he already has the line-item veto	Vice President Quayle and Budget Director Darman said recently they 've joined the search
+9	President Bush told reporters a few months ago that he was looking for the right test case to see whether he already has the line-item veto	Vice President Quayle and Budget Director Darman said recently they 've joined the search
+5	Vice President Quayle and Budget Director Darman said recently they 've joined the search	On Tuesday , the subject came up again when Marlin Fitzwater explained the constitutional argument based on the provisions above to the White House press corps
+9	Vice President Quayle and Budget Director Darman said recently they 've joined the search	On Tuesday , the subject came up again when Marlin Fitzwater explained the constitutional argument based on the provisions above to the White House press corps
+9	when lawyer Stephen Glazier first made the case on this page	The 1974 budget `` reform , '' passed over President Nixon 's veto , took away the presidential impoundment power , thereby introducing monstrous CRs and eviscerating the presidential veto
+2	that the Founders had worried that Congress might take the President out of the loop	Article I , Section 7 , Clause 3 says that whether it 's called an `` order , resolution or vote '' or anything else , Presidents must have the chance to veto
+2	Article I , Section 7 , Clause 3 says that whether it 's called an `` order , resolution or vote '' or anything else , Presidents must have the chance to veto	Labeling an omnibus budget a `` bill '' ca n't deprive the President of his power to veto items
+5	but there is something to be said for picking the best one possible	The White House had the perfect case , but Congress blinked before it could go to court
+6	but there is something to be said for picking the best one possible	The White House had the perfect case , but Congress blinked before it could go to court
+2	but Congress blinked before it could go to court	After the HUD and S & L stories broke , some Congressmen began to worry that their influence peddling at executive-branch and independent agencies might some day get them in trouble
+8	After the HUD and S & L stories broke , some Congressmen began to worry that their influence peddling at executive-branch and independent agencies might some day get them in trouble	They worried about an Interior Department directive to log all communications with Members or their staffs
+2	They worried about an Interior Department directive to log all communications with Members or their staffs	Congress inserted the following into the Interior appropriation : `` None of the funds available under this title may be used to prepare reports on contacts between employees of the Dept . of the Interior and Members and committees of Congress and their staff
+5	The White House warned that this would be an unconstitutional usurpation of its power	When it threatened to use this provision as the test for a line-item veto , Congress caved
+9	The White House warned that this would be an unconstitutional usurpation of its power	When it threatened to use this provision as the test for a line-item veto , Congress caved
+8	When it threatened to use this provision as the test for a line-item veto , Congress caved	The fear Congress has of any line-item-veto test led Members to add the single most contorted and ridiculous provision this year , `` This section shall be effective only on Oct. 1 , 1989
+8	but the line-item veto is better understood as a political opportunity than as mere fodder for lawyers	Commenting on the budget mess this week , President Bush said : `` The perception out there is that it 's the fault of Congress
+2	Exactly right	Now 's the time to make the political case that Presidents need the line-item weapon to restore discipline to the budget
+5	now that we 're into Gramm-Rudman 's sequestration	Just this week , the House-Senate conference met -- 231 conferees , divided into 26 different subconferences
+10	Just this week , the House-Senate conference met -- 231 conferees , divided into 26 different subconferences	Senator Daniel Inouye agreed to close some bases in Hawaii in exchange for such goodies as $ 11 million for a parking lot at Walter Reed Hospital
+5	Senator Daniel Inouye agreed to close some bases in Hawaii in exchange for such goodies as $ 11 million for a parking lot at Walter Reed Hospital	Conference negotiator Rep. Bill Hefner pulled down $ 40 million in military bases for North Carolina and graciously allowed Senator James Sasser $ 70 million for bases in Tennessee
+8	President Bush should take the Constitution in one hand and a budget ax in the other and get to work	He should chop out both unconstitutional provisions and budget pork
+8	but that does n't mean the country must learn to live forever with this mess	President Bush has the power to change how Washington works , if only he will use it
+5	SCI TV owns six TV stations , including several CBS Inc. affiliates	It is having trouble meeting its debt payments because of heavy borrowing in 1987 for a leveraged buy-out
+8	Through investment banker Drexel Burnham Lambert Inc. , SCI TV is offering to exchange three classes of junk bonds for packages of new bonds and equity that investors value at ranges from 20 cents to 70 cents on the dollar	KKR would give up a 31 % equity stake to bondholders , while Mr. Gillett would surrender an 8 % stake
+2	many junkholders had been hoping that KKR and Mr. Gillett would invest new money in SCI TV	Those investors think SCI TV needs new equity to survive
+8	club owners know the future lies with the lumpier over-40 set	It 's a misconception that physical fitness is something for the young and middle-aged , '' says Michael Pacholik , sales manager of the LA Fitness club , Diamond Bar , Calif
+5	It 's a misconception that physical fitness is something for the young and middle-aged , '' says Michael Pacholik , sales manager of the LA Fitness club , Diamond Bar , Calif	About 10 % to 15 % of members at Atlanta 's Holiday Espre Center are elderly , says Gerald Williams , fitness consultant
+2	that 43 % exercise regularly	an industry `` wash '' is in progress . `` Clubs need to be run like restaurants where every square foot makes a dollar
+2	an industry `` wash '' is in progress	Clubs need to be run like restaurants where every square foot makes a dollar
+5	where every square foot makes a dollar	Older people help profits by filling in `` downtime
+2	Older people help profits by filling in `` downtime	and are going to cross real soon
+8	People on fixed incomes get a break at Espre	over 55 wins a 45 % discount at Anaheim Imperial Health Spa
+1	In the U.S. , radiation limits are set and monitored by the Nuclear Regulatory Commission	but does n't currently monitor imports
+5	The { stones } that were irradiated in the U.S. are safe	that the vast majority of imported material is safe
+8	But there is a small risk that some were imported with high radiation levels	that the stones found in Hong Kong are thought to carry double the U.S. radiation limit
+1	Boston 's Advent International raises $ 230 million from U.S. pension funds and other institutions to invest in Europe	Other venture capitalists are already there : MMG Patricof Group and its Alan Patricof Associates , New York ; Burr , Egan , Deleage & Co. , Boston ; and San Francisco 's Hambrecht & Quist have about $ 800 million to invest in European companies
+5	to continue growing 35 % annually	that the strongest growth area will be southern Europe
+8	that the strongest growth area will be southern Europe	Spain and Italy are most often mentioned as the future economic hot spots
+5	Favored ventures include media , telecommunications and retailing	Most popular acquisition method : the leveraged buy-out
+2	SUSPECT `` SALES '' ads are challenged by the Better Business Bureau of Metropolitan New York	The bureau found that only two of six New York furniture stores could prove their presale prices were higher
+8	SUSPECT `` SALES '' ads are challenged by the Better Business Bureau of Metropolitan New York	The bureau found that only two of six New York furniture stores could prove their presale prices were higher
+8	But it may have a good listener in Washington	The FCC plans to hear a day of testimony Nov. 16 on the plight of AM radio
+2	The FCC plans to hear a day of testimony Nov. 16 on the plight of AM radio	The commission believes that improving AM service would broaden listening selections and increase options for advertisers
+1	considered technically superior because it can carry stereo broadcasts	AM stereo remains largely undeveloped because it lacks a uniform delivery system
+2	AM stereo remains largely undeveloped because it lacks a uniform delivery system	The National Association of Broadcasters in June adopted an agenda for revitalizing AM radio that includes , among other things , pursuing further FCC action on selecting an AM stereo standard and seeking a law requiring all stereo receivers to include AM stereo
+8	The Kemper Corp. unit and other critics complain that program trading causes wild swings in stock prices , such as on Tuesday and on Oct. 13 and 16 , and has increased chances for market crashes	Over the past nine months , several firms , including discount broker Charles Schwab & Co. and Sears , Roebuck & Co. 's Dean Witter Reynolds Inc. unit , have attacked program trading as a major market evil
+5	Index arbitrage recently has accounted for about half of all program trading on the New York Stock Exchange	Last month , program trading accounted for 20.9 million shares a day , or a record 13.8 % of the Big Board 's average daily volume
+1	On Tuesday afternoon , Kemper told Bear , Stearns & Co. , General Electric Co. 's Kidder , Peabody & Co. unit , Morgan Stanley and Oppenheimer & Co. that it will no longer do business with them because of their commitment to index arbitrage	Kemper officials declined to identify the firms
+2	We 've been opposed to '' index arbitrage `` for a long time	Index arbitrage does n't work , and it scares natural buyers '' of stock
+2	that `` on an intraday basis , it has major effects	We 've talked to proponents of index arbitrage and told them to cool it because they 're ruining the market
+1	We 've talked to proponents of index arbitrage and told them to cool it because they 're ruining the market	They said , ` Too bad
+8	Kemper also blasted the Big Board for ignoring the interests of individual and institutional holders	The New York Stock Exchange has vested interests '' in its big member securities firms `` that cloud its objectivity , '' Mr. Timbers said . `` It has never been interested in what we think.The Big Board also has a terrible communication problem with individual investors , '' he added
+2	The New York Stock Exchange has vested interests '' in its big member securities firms `` that cloud its objectivity	It has never been interested in what we think
+2	Small investors perceive that `` big operators '' dominate the market	they 'd love to do away with it { program trading } , but they { the exchange } ca n't do it
+8	that he has no inclination to eliminate program trading	but that all the exchange can do is `` slow down the process '' by using its circuit breakers and shock absorbers
+8	Morgan Stanley and Kidder Peabody , the two biggest program trading firms , staunchly defend their strategies	We continue to believe the position we 've taken is reasonable , '' a Morgan Stanley official said . `` We would stop index arbitrage when the market is under stress , and we have recently , '' he said , citing Oct. 13 and earlier this week.Michael Carpenter , president and chief executive officer at Kidder Peabody , said in a recent interview , `` We do n't think that index arbitrage has a negative impact on the market as a whole
+8	the position we 've taken is reasonable	We would stop index arbitrage when the market is under stress
+5	We continue to believe the position we 've taken is reasonable , '' a Morgan Stanley official said . `` We would stop index arbitrage when the market is under stress , and we have recently , '' he said , citing Oct. 13 and earlier this week	Michael Carpenter , president and chief executive officer at Kidder Peabody , said in a recent interview , `` We do n't think that index arbitrage has a negative impact on the market as a whole
+1	According to Lawrence Eckenfelder , a securities industry analyst at Prudential-Bache Securities Inc. , `` Kemper is the first firm to make a major statement with program trading	that `` having just one firm do this is n't going to mean a hill of beans
+5	priced at 99.771 to yield 8.457 %	The issue was priced at a spread of 70 basis points above the Treasury 's five-year note
+5	priced at 99.85 to yield 8.387 %	The noncallable issue was priced at a spread of 62.5 basis points above the Treasury 's five-year note
+5	There are $ 46,245,000 of 7 % term bonds due 2009 , priced at 97 7/8 to yield 7.20 % , and $ 64.9 million of 7.1 % term bonds due 2016 , priced at 98 1/4 to yield 7.25 %	Serial bonds , which all carry 7 % coupons , are priced to yield from 6.30 % in 1992 to 7 % in 2000
+5	Beverly Hills , Calif. -- $ 116,385,000 of refunding certificates of participation ( civic center improvements project ) , due 1990-2004 , 2007 , 2016 and 2019 , tentatively priced by a Goldman , Sachs & Co. group to yield from 6 % in 1990 to 7.19 % in 2016	Serial certificates yield to 7.10 % in 2004
+8	They are all priced at par	There are $ 12,915,000 of 7 % term certificates due 2007 , priced to yield 7.15 %
+5	There are $ 12,915,000 of 7 % term certificates due 2007 , priced to yield 7.15 %	The $ 58.9 million of 7 % certificates due 2016 carry the issue 's high yield , priced at 97 3/4 to yield 7.19 %
+8	Michigan -- $ 80 million of first general obligation bonds ( Series 1989 environmental protection program and recreation program ) , tentatively priced by a Shearson Lehman Hutton group to yield from 6 % for current interest bonds due 1990 to 7.25 % for convertible capital appreciation bonds	Environmental protection program current interest bonds are due 1995-1999 , 2005 and 2009
+5	Environmental protection program current interest bonds are due 1995-1999 , 2005 and 2009.They are tentatively priced to yield from 6.45 % in 1995 to 7.10 % in 2009	The standard capital appreciation bonds in the issue , due 1998-2011 , yield to maturity from 6.70 % in 1998 to 7.10 % in 2009-2011
+5	Environmental protection program current interest bonds are due 1995-1999 , 2005 and 2009.They are tentatively priced to yield from 6.45 % in 1995 to 7.10 % in 2009.The standard capital appreciation bonds in the issue , due 1998-2011 , yield to maturity from 6.70 % in 1998 to 7.10 % in 2009-2011	The convertible capital appreciation bonds all yield 7.25 % to their respective conversion dates , when they become 7 1/4 % current interest-bearing bonds until maturity
+5	Convertible capital appreciation bonds with a final stated maturity of Nov. 15 , 2014 , convert Nov. 15 , 1999	Convertible capital appreciation bonds with a final stated maturity of Nov. 15 , 2019 , convert Nov. 15 , 2004
+5	priced at yields ranging from 8.23 % to 8.43 %	All the issues were priced at a spread of 37 basis points above the Treasury strips with similar maturities
+8	Every day , Mr. Levy checks orders from Campeau department store chains	I 'm now monitoring every major account
+1	Orders from Campeau retailers used to be cause for celebration	This is no longer true because of Campeau 's massive debt load
+2	It 's all anybody wants to talk about	People wonder what 's going to happen next
+2	The few million dollars I could lose today is nothing against what I could lose on the spring line	I 'm buying fabric right now for clothes which I may not be paid for until April or May
+2	I 'm buying fabric right now for clothes which I may not be paid for until April or May	What happens to me if Campeau collapses between now and then
+8	Some credit concerns , such as Bernard Sands Credit Consultants Inc. , have told clients not to ship anything to Federated or Allied stores on credit	This is especially true for spring merchandise
+6	Some credit concerns , such as Bernard Sands Credit Consultants Inc. , have told clients not to ship anything to Federated or Allied stores on credit	This is especially true for spring merchandise
+2	This is especially true for spring merchandise	Campeau has too much debt
+6	Other credit houses , such as Credit Exchange and Solo Credit Service Corp. , are suggesting that their clients study each order before shipping	Payments are good right now , but we are n't recommending any long-term lines of credit , '' says Richard Hastings , a retail credit analyst
+2	Payments are good right now , but we are n't recommending any long-term lines of credit	The Campeau situation is a little uncertain and very difficult to analyze
+6	Because of those concerns , some manufacturers say they will ask for letters of credit before shipping spring merchandise	We 're being paid today , but we 're worried about tomorrow and will want '' letters of credit , says the sales director at one major dress maker who asked not to be identified
+0	It 's big time chaos today	I 'm going to ship and hope I get paid
+5	I 'm going to ship and hope I get paid	If I need to ask for money up front later , I will
+8	that all of the Federated and Allied chains are paying their bills in a timely manner	They continue to pay their bills and will do so
+5	They continue to pay their bills and will do so	We 're confident we 'll be paying our bills for spring merchandise as well
+8	Typically , manufacturers are paid 10 days after the month in which they ship	If goods are shipped to Bloomingdale 's between Oct. 1 and Oct. 20 , manufacturers expect to be paid by Nov. 10
+5	But manufacturers now buying fabric for spring season goods wo n't be paid until March , April or even May	Some in the market question whether Campeau will be in a position to pay bills at that time
+6	Everybody is worried about the possibility of cancellations	The buyers who work for the various Campeau chains may lose their jobs
+2	The buyers who work for the various Campeau chains may lose their jobs	The stores they work for may be sold
+7	The buyers who work for the various Campeau chains may lose their jobs	The stores they work for may be sold
+5	The stores they work for may be sold	What that will mean for manufacturers is anybody 's guess
+1	Right now , Federated owes us a considerable amount of money	We expect they will be current with their debts by the end of the week
+8	that his company is now holding some goods in anticipation of being paid in full	It 's become a day-by-day business
+2	Business has never been this tough before	Not only does your product have to be excellent , but you also have to be able to collect
+6	Other manufacturers are equally cautious	Bud Konheim , president of Nicole Miller Inc. , says his company is now shipping only to the flagship stores of the Federated and Allied chains
+2	his company is now shipping only to the flagship stores of the Federated and Allied chains	This limits his financial exposure
+2	The branches are just warmed over , empty halls	Why should I be part of that problem
+2	Why should I be part of that problem	I 've got limited production , and I ca n't give it to underperformers
+8	Campeau 's Ms. Sanger disputes Mr. Konheim 's comments	Many of the branches are very lucrative , '' she says . `` That 's just nonsense
+2	Many of the branches are very lucrative	That 's just nonsense
+1	he will maintain his credit lines with the various Campeau stores unless they miss a payment	If they slip for 10 cents for 10 minutes , I 'll stop
+3	Of all the major steelmakers , Bethlehem would seem to be the most vulnerable to a slowdown	It has n't diversified beyond steel , nor has it linked up with a joint venture partner to share costs and risks
+8	However , in spite of the difficult industrywide environment of high cost and low volume , Bethlehem `` had pretty good earnings numbers	third-quarter earnings of 55 cents a share
+5	third-quarter net income dropped 8 % to $ 33 million , or 35 cents a share , from $ 36 million , or 39 cents a share in the year-ago quarter	Sales dropped to $ 441.1 million from $ 820.4 million , because the company no longer consolidates its Eastern Steel division , which is now a joint venture with Kawasaki Steel Corp
+2	by holding higher-cost inventory when raw material costs of such key products as nickel dropped	Operating profit dropped 46 % in its specialty flat-rolled steel segment
+5	National Intergroup , which owns 50 % of the nation 's sixth largest steelmaker -- National Steel Corp. -- posted net income for the fiscal second-quarter of $ 8.6 million , or 33 cents a share , compared with a net loss of $ 50.3 million	Sales increased in the quarter ended Sept. 30 to $ 747.8 million from $ 623.5 million a year ago
+1	The latest period includes gains of $ 9.1 million from early retirement of debt and tax loss carry-forward	Last year 's results were hurt by $ 41.3 million in restructuring charges
+9	that the Japanese will take over that equipment market , too , unless U.S. semiconductor companies produce enough memory chips here to keep U.S. equipment makers healthy	Failure of U.S. equipment makers would leave it dependent on many of the Japanese companies that compete with it in other parts of the market
+5	it expects to benefit from the expertise that Motorola and other companies can bring to bear on the difficult problems involved in semiconductor manufacturing	IBM already participates in one industrywide effort to improve semiconductor-manufacturing techniques
+8	because semiconductor manufacturing has become so expensive	A state-of-the-art plant cost $ 40 million in the mid-1970s but costs $ 500 million today
+8	X-rays have problems , too	They can make the masks brittle and can pass through material they 're not supposed to
+1	Bertin Nadeau , newly appointed chairman and interim chief executive of Provigo , would n't say if Mr. Lortie was asked to leave	Mr.Lortie felt less pertinent , '' Mr. Nadeau said , given the decision to dump Provigo 's non-food operations
+4	Mr.Lortie felt less pertinent given the decision to dump Provigo 's non-food operations	At this stage I was perhaps more pertinent as chief executive
+8	Investors and analysts applauded the news	Provigo was the most active industrial stock on the Montreal Exchange , where it closed at C $ 9.75 ( US $ 8.32 ) , up 75 Canadian cents I think it 's a pretty positive development , '' said Ross Cowan , a financial analyst with Levesque Beaubien Geoffrion Inc. , of the decision to concentrate on groceries.Mr . Lortie 's departure , while sudden , was seen as inevitable in light of the shift in strategy . `` The non-food operations were largely Mr. Lortie 's creation { and } his strategy did n't work , '' said Steven Holt , a financial analyst with Midland Doherty Ltd
+2	it 's a pretty positive development	Mr. Lortie 's departure , while sudden , was seen as inevitable in light of the shift in strategy
+2	Mr. Lortie 's departure , while sudden , was seen as inevitable in light of the shift in strategy	The non-food operations were largely Mr. Lortie 's creation { and } his strategy did n't work
+6	Provigo 's profit record over the past two years tarnished the company 's and Mr. Lortie 's reputations	For the six months ended Aug. 12 , Provigo posted net income of C $ 6.5 million , or eight Canadian cents a share , compared with C $ 18.1 million , or 21 Canadian cents a share , a year earlier
+5	For the six months ended Aug. 12 , Provigo posted net income of C $ 6.5 million , or eight Canadian cents a share , compared with C $ 18.1 million , or 21 Canadian cents a share , a year earlier	Sales were C $ 4.2 billion compared with C $ 3.7 billion
+2	For the six months ended Aug. 12 , Provigo posted net income of C $ 6.5 million , or eight Canadian cents a share , compared with C $ 18.1 million , or 21 Canadian cents a share , a year earlier.Sales were C $ 4.2 billion compared with C $ 3.7 billion	Last month , Canadian Bond Rating Service downgraded Provigo 's commercial paper and debentures because of its lackluster performance
+5	Provigo will be able to sell the non-food businesses as a group for at least book value	he could n't yet say if the sale prices would match book values
+0	he could n't yet say if the sale prices would match book values	all three non-food operations are profitable
+0	Mr. Nadeau said discussions are under way with potential purchasers of each of the units	He declined to confirm or deny reports that Provigo executive Henri Roy is trying to put together a management buy-out of the catalogue showroom unit
+9	Yvon Bussieres was named senior executive vice president and chief operating officer of Provigo , a new position	Mr. Bussieres was president and chief operating officer of Provigo 's Quebec retail and wholesale grocery unit
+5	In late New York trading yesterday , the dollar was quoted at 1.8353 marks , down from 1.8355 marks Tuesday , and at 141.52 yen , up from 141.45 yen late Tuesday	Sterling was quoted at $ 1.6145 , up from $ 1.6055 late Tuesday
+9	Lawrence Insurance also sold 3.2 million of its shares for $ 7.125 each to its parent , Lawrence Group Inc	Lawrence Insurance plans to use the $ 22.5 million in proceeds to help finance the acquisition of United Republic
+2	United pilots have shown on a number of occasions they are willing and able to strike	If you have both { labor } groups on strike , you 've got no revenue and that 's a very scary thing for a bank to be looking at
+2	because their employer has yet to settle with either on new contracts	That gives them both the threat of a strike and the ability to resist any wage concessions that may be necessary to make a transaction work
+2	that the unions are key	There 's less likelihood of creating and completing a transaction without the unions ' cooperation and wage concessions
+8	Both the pilots and machinists have made it clear that they intend to block any transaction they do n't like	The pilots will be involved in any transaction that takes place around here , '' pilot union chairman Frederick C. Dubinsky declared yesterday
+8	his union would like majority ownership for employees	At the very least , the pilots want some form of control over the airline , perhaps through super-majority voting rights
+8	Still , in recent days , machinists ' union leaders have shown some new flexibility	We may be able to reach a tradeoff where we can accommodate { the pilot union 's } concerns and ours
+2	The pilots ' insistence on majority ownership also may make the idea of a recapitalization difficult to achieve	Who wants to be a public shareholder investing in a company controlled by the pilots ' union
+2	Who wants to be a public shareholder investing in a company controlled by the pilots ' union	Who would the board be working for -- the public shareholders or the pilots
+8	the dynamics of this situation are that something 's got to happen	The board and UAL 's management ca n't go back '' to business as usual
+2	The board and UAL 's management ca n't go back '' to business as usual	The pilots wo n't let them
+8	The key to Delta 's record earnings continued to be excellent passenger revenue growth	Passenger traffic jumped 14 % in the quarter , while profit per passenger grew 2 %
+5	Revenue rose 21 % to $ 243.4 million from $ 201.2 million	For the nine months , America West posted earnings of $ 18.9 million , or 97 cents a share , compared with a loss of $ 9.7 million , or 74 cents a share , a year earlier
+5	For the nine months , America West posted earnings of $ 18.9 million , or 97 cents a share , compared with a loss of $ 9.7 million , or 74 cents a share , a year earlier	Revenue rose 27 % to $ 715.1 million from $ 563.8 million
+1	increasing general reserves to $ 300 million , or about 6.7 % of the total portfolio , as of Sept. 30	On June 30 , loss reserves stood at $ 108.3 million
+1	Previously , Columbia did n't have to adjust the book value of its junk-bond holdings to reflect declines in market prices , because it held the bonds as long-term investments	Because Columbia now must sell the bonds within five years , accounting rules require the thrift to value the bonds at the lower of cost or market prices
+8	Its shares closed at $ 5.125 each in composite New York Stock Exchange trading , down 37.5 cents	The price of Columbia shares has been cut nearly in half since August , when they traded at about $ 10
+8	The price of Columbia shares has been cut nearly in half since August , when they traded at about $ 10	The stock 's decline accelerated in the past two weeks , from a price of $ 8 a share on Oct. 9
+8	the thrift should n't face problems meeting regulatory capital requirements , despite the large reserves and write-downs and stiffer regulatory requirements that should be in place by year 's end	Its ratio of tangible equity to total assets as of Sept. 30 was 3.6 % , and total equity was $ 457.9 million
+2	Over the summer , Anheuser competitors offered more and deeper discounts than industry observers have seen for a long time	Anheuser 's entry into the fray means near-term earnings trouble for all the industry players
+2	major rivals , Philip Morris Co. 's Miller Brewing unit and Adolph Coors Co. `` have been following a policy of continuous and deep discounting for at least the past 18 months '' on their premium brands , pricing their product as much as 25 cents a 12-pack below Anheuser 's Budweiser label in many markets	it 's discounting policy basically would involve matching such moves by rivals on a market-by-market basis
+5	third-quarter net income rose a lower-than-anticipated 5.2 % to $ 238.3 million , or 83 cents a share , from $ 226.5 million , or 78 cents	Third-period sales were $ 2.49 billion , up from last year 's $ 2.34 billion
+2	its new strategy -- started in some markets last month and expected to be applied soon in selected markets nationwide -- will mean lower-than-anticipated earnings for the last half of 1989 and for 1990	The projection sent Anheuser shares plunging $ 4.375 in New York Stock Exchange composite trading yesterday
+5	The projection sent Anheuser shares plunging $ 4.375 in New York Stock Exchange composite trading yesterday	The stock closed at $ 38.50 on heavy volume of about 3.5 million shares
+1	The projection sent Anheuser shares plunging $ 4.375 in New York Stock Exchange composite trading yesterday.The stock closed at $ 38.50 on heavy volume of about 3.5 million shares	Shares of Coors , the company 's sole publicly traded major competitor , fell $ 1.50 apiece to $ 19.125 in national over-the-counter trading , apparently on investor concerns over potential fallout from the coming pricing struggle
+10	The projection sent Anheuser shares plunging $ 4.375 in New York Stock Exchange composite trading yesterday.The stock closed at $ 38.50 on heavy volume of about 3.5 million shares	Shares of Coors , the company 's sole publicly traded major competitor , fell $ 1.50 apiece to $ 19.125 in national over-the-counter trading , apparently on investor concerns over potential fallout from the coming pricing struggle
+5	it will take `` appropriate competitive pricing actions to support our long-term market share growth strategy '' for the premium brands	it continues to hold to its earlier-announced goal of a 50 % U.S. market share by the mid-1990s
+8	Beneath the tepid news-release jargon lies a powerful threat from the brewing giant	Anheuser is the biggest guy in the bar , and he just decided to join in the barroom brawl
+2	Anheuser is the biggest guy in the bar , and he just decided to join in the barroom brawl	It 's going to get bloody
+2	Prudential-Bache Securities Inc. analyst George E. Thompson downplayed the importance of the announcement , and called any comparison between the coming beer-industry tiff and the seemingly unending `` cola wars , '' unwarranted	discounting `` a loser 's game for anyone without a dominant market share that Anheuser 's statement of intent could simply be a means of warning competitors to ease up on price-cutting or face a costly and fruitless battle
+8	But Smith Barney 's Mr. Doyle called the market 's reaction `` justified	While the third-quarter earnings were a `` moderate disappointment , '' he said , `` the real bad news is the intensity of price competition '' in the premium-beer sector
+5	According to Mr. Steinman , the newsletter publisher , Anheuser 's market share is nearly twice that of its nearest competitor , Miller Brewing , which had a 21.2 % stake last year	It 's followed by Stroh Brewery Co
+5	which has agreed to sell its assets to Coors	Both Coors and Stroh have recently been ceding market share to Miller and Anheuser
+5	Tokyo stocks closed easier for the second consecutive day	Stocks rose in London , but fell again in Frankfurt
+8	Trading was active	Volume on the first section was estimated at 1 billion shares , up from 914 million Tuesday
+5	But losers were spread in a broad range by the end of the session	that the more an issue gained recently , the sharper the loss sustained Wednesday
+8	which declined to their lowest level since the begining of this year	NTT lost 30,000 yen to 1,380,000 yen ( $ 9,756
+5	which fell 40 to 1,520	Toyota Motor fell 40 to 2,680
+8	Pioneer Electronic and Sony continued to fall Wednesday	Pioneer was down 90 at 5,810 , and Sony lost 40 to 8,550 , down 10 % from its record set Oct. 11
+5	The Financial Times 100-share index finished at 2161.9 , up 12.6 points	The 30-share index ended 12.6 points higher at 1751.9
+5	which settled 6 pence a share lower at 753 ( $ 12.10	Hanson , with 15 million shares traded , closed 2.5 lower at 212.5
+5	Jaguar was boosted 21 to 715 on follow-through buying after Ford Motor 's announcement Tuesday that it might be prepared to mount a full bid for the U.K. luxury auto maker	It was further helped by Ford , which announced after London 's close that it had raised its stake to 12 % from just under 11 % on Tuesday
+8	Frankfurt prices closed sharply lower in thin dealings	The German stock index tumbled 26.29 to end at
+2	It was dead , listless , depressing and negative	There was little turnover and nothing to stimulate the market
+5	Tough talk from trade union officials at the conference of the powerful IG Metall metals worker union in West Berlin raised the specter of nationwide strikes next spring	which could sharply increase the costs for German industry
+1	Deutsche Bank plummeted 12 to 645 , hurt by the general mood	Other banks were slightly more resilient , with Dresdner Bank shedding 4.8 to 320 , and Commerzbank slipping 2.5 to
+2	Meanwhile , Wall Street 's volatility unnerved investors in other markets	Share prices closed lower in Paris , Zurich , Brussels , Milan and Stockholm , and mixed in Amsterdam
+5	Among Pacific markets , prices closed lower in Sydney , Seoul , Hong Kong , Manila , Singapore and Wellington	Trading in Taipei was suspended for a national holiday
+5	To make them directly comparable , each index is based on the close of 1969 equaling 100	The percentage change is since year-end
+5	State-controlled Orkem already owns 40.6 % of Coates	The remainder is held by the public and by family interests
+8	The 231-191 roll call illustrates the limits of power a resurgent abortion-rights movement still faces	It continues to gain strength in the chamber but remains far short of the two-thirds majority required to prevail over Mr. Bush
+2	Yesterday 's vote dealt with the largest of these bills , an estimated $ 156.7 billion measure funding the departments of Labor , Education , and Health and Human Services	To gain more leverage , abortion-rights advocates may seek to fold the bill into an omnibus continuing resolution next month
+2	the president is in a commanding position for at least this year	Unless he changes , they lose
+9	as Congress sent to the president last night a stopgap spending bill to keep the government operating through Nov. 15 and provide $ 2.85 billion in emergency funds to assist in the recovery from Hurricane Hugo and the California earthquake	By a lopsided 97-1 margin , the Senate approved the measure after attaching further provisions sought by the influential California delegation and , despite reservations , the House adopted the bill on a 303-107 roll call
+5	The bill last night includes $ 500 million to help finance this credit and further raises the obligation ceiling for the Small Business Administration sixfold to $ 1.8 billion to accommodate the expected loan activity	In direct cash assistance , $ 1 billion is provided in federal highway construction funds , and $ 1.35 billion is divided between general emergency aid and a reserve to be available to the president to meet unanticipated costs from the two disasters
+2	In the Senate , Majority Whip Alan Cranston used his position to win not only the expanded credit but also more generous treatment than the House had permitted in the distribution of highway funds in the next six months	The emergency assistance would n't be counted against a state 's normal allocation of annual highway funds , and the bill circumvents existing restrictions that otherwise would prevent the use of federal aid to repair a toll road , such as the San Francisco-Oakland Bay Bridge damaged in last week 's earthquake
+5	The underlying stopgap bill is the second required by Congress this fall and , since the current fiscal year began Oct. 1 , only the Energy and Interior departments are operating on permanent appropriations enacted into law	The standoff over abortion is certain to contribute to further delays and , apart from the health and education measure vetoed by Mr. Bush , bills funding the District of Columbia and the entire U.S. foreign-aid budget are in jeopardy because of related abortion or family-planning issues
+8	The vote yesterday was the most partisan in many years , and though the Democratic leadership is ambivalent about how to address the abortion issue , the debate is increasingly measured in party terms	The 189 Democrats who supported the override yesterday compare with 175 who initially backed the rape-and-incest exemption two weeks ago and 136 last year on a similar vote By comparison , Republicans have held closer to the anti-abortion movement.Only 42 GOP members opposed the president 's veto , a marginal increase over the vote two weeks ago and just 12 more than the 30 who supported the rape-and-incest exemption last year
+8	By comparison , Republicans have held closer to the anti-abortion movement	Only 42 GOP members opposed the president 's veto , a marginal increase over the vote two weeks ago and just 12 more than the 30 who supported the rape-and-incest exemption last year
+6	But after years of using the issue for its benefit , the GOP finds its candidates on the defensive	New Jersey gubernatorial candidate Rep. James Florio pointedly returned from campaigning to vote against the president yesterday in contrast with his opponent , GOP Rep. James Courter , who has ardently supported abortion restrictions in the past but was absent
+5	In an extraordinary mix of cultures and church-state powers , Rep. Robert Dornan ( R. , Calif. ) lectured his fellow Roman Catholics -- including Mr. Florio -- for having the `` chutzpah '' to disagree with the hierarchy of their church on abortion	Rep. Les AuCoin was as blunt on behalf of the abortion-rights movement
+8	Rep. Les AuCoin was as blunt on behalf of the abortion-rights movement	This may not make George Bush a one-term president , '' said the Oregon liberal , addressing the Republican side of the House . `` But if you support him over rape victims , this may be your last term
+6	and incorporating far-reaching provisions affecting the federal mortgage market	The current ceiling on home loans insured by the Federal Housing Administration would be increased to $ 124,875 , and the bill gives the Department of Housing and Urban Development new authority to facilitate the refinancing of subsidized loans for low-income homeowners
+8	Also participating in the issue was Servifilm Spain Cinematografica S.A	The film producer , owned by Madrid-based financier Jacques Hachuel , received a 5 % stake in the Barcelona-based publishing group
+8	greatly enhancing the group 's ability to make investments	Zeta is seeking investment opportunities in communications and publishing
+2	that the ESP baskets are risky and not in the best interests of the investing public	the new product , with the $ 5 million minimum , will benefit only big institutional investors and could lead to `` wild spasms of volatility
+2	The New York Stock Exchange is losing its cool here	The new stock baskets `` are going to make it easier for program trading to be done
+8	Both the Big Board 's Exchange Stock Portfolio and the Chicago exchange 's Market Basket are designed for institutional investors	The Big Board lists its targets as pension plans , mutual fund managers and index-arbitrage traders
+8	At the same time , only four securities firms have signed up with the Big Board to buy and sell ESPs as market makers , an unenthusiastic response	The market makers so far are CS First Boston Group 's First Boston Corp. unit , Morgan Stanley & Co. , PaineWebber Group Inc. and Salomon Inc. 's Salomon Brothers Inc. unit
+8	major securities firms are reluctant to become market makers because they fear the baskets may attract only limited trading	only 25 contracts a day may trade at first , equivalent to a day 's action at a small , regional exchange
+2	With the futures locked into a trading halt Oct. 13 and trading in some individual stock difficult , program traders would have undoubtedly fled to the basket system	If we had the baskets , we would be leaving in caskets
+1	The loss in Comprehensive Care 's latest quarter is equal to 46 cents a share	In the year-earlier quarter , Comprehensive Care earned $ 1.6 million , or 18 cents a share
+1	Officials of Pittsburgh-based H.H . Robertson declined comment	As reported last month , Mr. Kass said he was interested in making an offer to buy H.H . Robertson for $ 13 a share
+8	Meanwhile , within the next few weeks , the limited partners in Ivan F. Boesky & Co. L.P. are expected to reach a partial settlement with Drexel Burnham Lambert Inc. regarding the distribution of the $ 330 million in partnership assets	Under the terms of the settlement , the limited partners would drop their civil suits against Drexel , now pending in federal court in New York
+5	Attorneys involved in the talks said that the parties were closer to accord than they were a year ago	One individual said the shareholders ' accord was `` well worked out
+8	The plaintiffs are investors who bought and sold securities in which Mr. Boesky and his partnerships were dealing	Some claim they suffered losses because they sold while he was buying and others because they bought while he was selling
+1	that `` discussions are under way	There are no agreements yet
+1	U.S. District Judge Robert P. Patterson Jr. ordered the FBI to immediately begin processing Herman Benjamin Ferguson 's request for documents stemming from the agency 's investigation of him during the 1960s	The FBI had said it would not be able to begin processing the request until June
+1	Mr. Ferguson fled the U.S. in 1970 after exhausting his appeals of a 1968 conviction on conspiracy to murder	He turned himself in to authorities in New York earlier this year
+5	He turned himself in to authorities in New York earlier this year	He maintains that the information from the FBI will help him get his 1968 conviction vacated and his bail-jumping indictment dismissed
+8	that the information from the FBI will help him get his 1968 conviction vacated and his bail-jumping indictment dismissed	he was framed by the FBI and New York police as part of a campaign to destroy the black liberation movement of the 1960s
+2	that the courts adopt different `` tracks '' for different types of civil cases in order to separate the handling of highly complex suits from simpler ones	Complex cases , such as antitrust suits and many business disputes , would receive intense supervision by federal judges to keep pretrial proceedings moving.Standard cases would require less judicial attention , and fast-track cases could be resolved quickly
+1	Complex cases , such as antitrust suits and many business disputes , would receive intense supervision by federal judges to keep pretrial proceedings moving	Standard cases would require less judicial attention , and fast-track cases could be resolved quickly
+5	Complex cases , such as antitrust suits and many business disputes , would receive intense supervision by federal judges to keep pretrial proceedings moving	Standard cases would require less judicial attention , and fast-track cases could be resolved quickly
+8	the makeup of the task force was unusually diverse	It included lawyers from civil rights and consumer groups , plaintiffs ' lawyers and defense attorneys , corporate counsel and law professors
+1	Businessland Inc. said it purchased a major regional computer retailer , Data Systems Computer Centre Inc. , Springfield , New Jersey	Terms were n't disclosed
+2	The purchase strengthens San Jose , Calif.-based Businessland 's links to the large corporations who are among the biggest buyers of computers	Data Systems has five retail stores in the northeast , but specializes in selling personal computers made by International Business Machines Corp. and Apple Computer Inc. to banks , brokerage firms and other big businesses based in the New York metropolitan area
+5	In a related matter , Peter Black , president of consumer brand Minwax , was named group vice president for the household products operating group	Kenneth M. Evans , president of Thompson & Formby brand , was named group vice president of the do-it-yourself operating group
+5	The New York-based company reported a third-quarter net loss of $ 5.1 million , or 10 cents a share , compared with a year-earlier net loss of $ 6.2 million , or 12 cents a share	Operating revenue surged 54 % in the latest period to $ 42.9 million from $ 27.7 million
+8	West Texas Intermediate , the U.S. benchmark crude , seemed tethered again yesterday in trading on the New York Mercantile Exchange	Widely expected to open 10 to 15 cents a barrel higher on the strength of statistics from the American Petroleum Institute , the December contract managed to start the session only eight cents higher
+2	The market quickly discounted the weekly inventory report showing a 6.3 million barrel decrease in U.S. crude oil stocks as the legacy of Hurricane Jerry	That storm hit the Gulf Coast Oct. 13 , closing the Louisiana Offshore Oil Port for a time and preventing tankers from unloading
+1	closing the Louisiana Offshore Oil Port for a time and preventing tankers from unloading	Next week 's report could very well show an increase in crude inventories
+2	to worry anew about the latest reports on OPEC production	An AP-Dow Jones survey of integrated oil companies , independent refiners , and oil industry consultants indicates that the Organization of Petroleum Exporting Countries increased its production to 22.2 million barrels a day in September
+5	An AP-Dow Jones survey of integrated oil companies , independent refiners , and oil industry consultants indicates that the Organization of Petroleum Exporting Countries increased its production to 22.2 million barrels a day in September	Estimates suggest October 's figure may be even higher
+1	An AP-Dow Jones survey of integrated oil companies , independent refiners , and oil industry consultants indicates that the Organization of Petroleum Exporting Countries increased its production to 22.2 million barrels a day in September	Estimates suggest October 's figure may be even higher
+8	late October weather , especially in the Northeast U.S. , continues to be very moderate	We are n't seeing any cold weather here , '' Mr. Bolling said from New York
+1	Wheat futures prices fell , however , at least partly in reaction to the rumored selling of futures contracts equal to several million bushels of wheat by commodity speculator Richard Dennis	Neither Mr. Dennis nor officials of his Chicago trading company , C & D Commodities , could be reached for comment
+8	As for corn and soybean futures , `` a lot of commission house buying this morning and computer-driven buying '' supported prices in early trading	Soybean futures for November delivery gained 5.25 cents a bushel to close at $ 5.66 a bushel on the Chicago Board of Trade.December corn futures added 2.25 cents a bushel to close at $ 2.4225 a bushel on the Board of Trade
+5	Soybean futures for November delivery gained 5.25 cents a bushel to close at $ 5.66 a bushel on the Chicago Board of Trade	December corn futures added 2.25 cents a bushel to close at $ 2.4225 a bushel on the Board of Trade
+6	Announced and anticipated purchases from foreign countries are also supporting futures prices	Russian ships are arriving in the gulf and there is n't enough grain in the pipeline
+8	Russian ships are arriving in the gulf and there is n't enough grain in the pipeline	The Soviet Union has purchased roughly eight million tons of grain this month , and is expected to take delivery by year end
+6	Futures prices rose modestly	The December contract settled at 73.97 cents a pound , up 0.59 cent
+2	that the move appeared to be mostly technical	Traders who had sold contracts earlier , in hopes of buying them back at lower prices , yesterday were buying contracts back at higher prices to limit their losses
+5	Traders who had sold contracts earlier , in hopes of buying them back at lower prices , yesterday were buying contracts back at higher prices to limit their losses	that the market could have been helped by rumors , which have been circulating for the past two days , about China purchasing cotton
+1	that if there were Chinese purchases , they should have had a bigger effect on the market	that if China was a buyer , it would be the earliest that country had made purchases since the 1979-80 crop year , and thus would be a bullish sign
+5	Another said that if China was a buyer , it would be the earliest that country had made purchases since the 1979-80 crop year , and thus would be a bullish sign	This trader characterized the recent price action as a contest between the fundamentalists , who see higher prices ahead , and the technicians , who are basically buying cotton toward the bottom of the current trading range , around 71 cents , and selling it when the price climbs more than 74 cents
+1	who are basically buying cotton toward the bottom of the current trading range , around 71 cents , and selling it when the price climbs more than 74 cents	the market would turn aggressively bullish from a technical standpoint if the December contract was able to exceed 75.75 cents
+6	The modest sell-off , which started on Tuesday , continued	The December contract ended at $ 999 a metric ton , down $ 15
+8	because of a lack of crop information out of Ghana and the Ivory Coast , the two largest African producers	the only report Ghana has issued about the arrival of cocoa from the interior was for 7,839 metric tons as of Oct. 12 By this time last year arrivals totaling 33,270 tons had been announced .A similar situation apparently exists in the Ivory Coast with no figures released yet this year , compared with 55,000 tons as of this time a year ago
+1	the only report Ghana has issued about the arrival of cocoa from the interior was for 7,839 metric tons as of Oct. 12	By this time last year arrivals totaling 33,270 tons had been announced
+8	A similar situation apparently exists in the Ivory Coast with no figures released yet this year , compared with 55,000 tons as of this time a year ago	that if little cocoa actually has arrived at the ports , shipping delays could result
+5	However , the French merchant has about 200,000 tons of old crop Ivory Coast cocoa stored in the Netherlands from an agreement it had negotiated with the Ivory Coast last spring	that even though the merchant has a contract stating that it wo n't bring this cocoa to market until after March 1991 , there is some evidence the contract has been modified
+2	the contract has been modified	This modification , apparently , would permit the French merchant to deliver this cocoa , if necessary , against existing short positions
+9	Richard D. Sutton , 64 years old , chairman of this bank-holding company , was named acting president and chief executive officer of the company and its First National Bank of Toms River subsidiary	Joseph W. Robertson , 61 , was dismissed from those posts
+0	Earlier it had been approached again by two other possible suitors	Yesterday that the two other parties told the company that they do n't have any current intention of making a takeover bid
+1	its directors have approved what is , in effect , a draft of a solvency opinion on the acquisition	A final opinion must be approved prior to the acceptance of tendered shares for payment under the offer
+2	Separately , Moody 's Investors Service Inc. downgraded the ratings of American Medical 's senior and subordinated debt issues and those of its international affiliate	The downgrade anticipates completion of the IMA Holdings acquisition today
+5	the acquisition should result in pretax losses from operations because of increases in interest expense and charges for depreciation and amortization , but that it expects the losses to be reduced through productivity gains and above average growth of the company 's hospitals	the ratings anticipate a successful debt-reduction program and modest improvement in discretionary cash flow because of planned asset sales
+1	The real estate investment trust said the `` purported class action suit , '' seeks `` damages and other remedies under federal securities law and state law	the company would n't disclose further details
+5	Gerald E. Wilson , corporate secretary and legal counsel , said the company would n't disclose further details	He declined to name the shareholder , the plaintiff 's lawyer or the court where the lawsuit was filed
+2	Bay reported a loss of $ 62 million , or $ 15.97 a share , for the fiscal year ended June 30	it might seek bankruptcy-court protection from creditor lawsuits if it ca n't renegotiate its borrowings
+9	This will include the sale of its interest in the joint venture Beghin Corbehem to Feldemuehle AG	The West German paper company entered the venture in April 1988 by acquiring a 50 % stake , also from Beghin-Say
+1	the parent asked it to respond by Oct. 31	it can provide no assurance a transaction will occur
+5	third-quarter net income fell 5.9 % to $ 9.5 million , or 46 cents a share , from $ 10.1 million , or 49 cents a share , in the year-ago period	Sales rose 2.9 % to $ 329.2 million from $ 320 million
+2	that the main points of a compromise defense authorization bill , hammered out during a flurry of private meetings over the past few days , provide a face-saving compromise for both the White House and House Democrats	Although conferees are still putting the finishing touches on the package , the final agreement could be announced as early as tomorrow
+1	The Senate voted to authorize $ 4.5 billion for SDI spending in the current fiscal year , but the House , reflecting a dramatic erosion of support for the program , earmarked only $ 3.1 billion	Despite the widening gap between the two sides , conferees eventually followed the pattern set in previous years by opting to roughly split the difference
+2	Despite the widening gap between the two sides , conferees eventually followed the pattern set in previous years by opting to roughly split the difference	That would hold spending on the program at about the previous year 's level
+2	The decision to keep the embattled F-14 's production line running for at least another year is an important victory for the House , and especially for Rep. Les Aspin ( D. , Wis	As the head of the House conferees , Rep. Aspin has been under intense pressure from his colleagues to reject Senate provisions that would have abruptly cut further F-14 production
+1	And lawmakers are putting the finishing touches on a compromise that would give the Air Force nearly all of the $ 2.4 billion it wants for production of Northrop Corp. 's radar-eluding B-2 bombers	The final B-2 agreement is certain to require detailed testing and verification of the bomber 's capabilities
+5	net was $ 7.4 million , or 22 cents a share , down from $ 32.3 million , or 86 cents a share , a year ago	Revenue totaled $ 1.01 billion , a 43 % increase from $ 704.4 million , reflecting the company 's acquisition of Emery earlier this year
+1	Analysts had expected Consolidated to post a slim profit	They have to continue to tighten their belts
+8	The average drifted in a trading range of about 30 points throughout the day	The lower boundary was established just after the opening in a brief round of selling ; the upper boundary was set at midday as scattered bargain-hunting pushed prices higher
+5	The lower boundary was established just after the opening in a brief round of selling	the upper boundary was set at midday as scattered bargain-hunting pushed prices higher
+2	People are sort of nervous to do anything in the market now	Our phones are quiet around here
+5	The gross national product report is expected to show that the economy continued to expand in the third quarter at a moderate pace	The consensus of economists polled by Dow Jones Capital Markets Report calls for a 2.5 % annual growth rate for GNP during the quarter
+9	But General Motors dropped 1 7/8 to 44 7/8	Its GM Hughes Electronics and financial-services units both reported that third-quarter earnings were down from a year earlier
+2	But General Motors dropped 1 7/8 to 44 7/8	Its GM Hughes Electronics and financial-services units both reported that third-quarter earnings were down from a year earlier
+9	Anheuser-Busch plunged 4 3/8 to 38 1/2 on 3.5 million shares	Its third-quarter earnings were lower than analysts had forecast , and the company said it had lowered its projections for earnings growth through the end of 1990 because of planned price cuts
+2	Anheuser-Busch plunged 4 3/8 to 38 1/2 on 3.5 million shares	Its third-quarter earnings were lower than analysts had forecast , and the company said it had lowered its projections for earnings growth through the end of 1990 because of planned price cuts
+9	Xerox fell 3 1/8 to 59 5/8	Disappointment with the company 's earnings for the quarter led Prudential-Bache Securities to reduce its 1989 and 1990 earnings estimates , according to Dow Jones Professional Investor Report
+2	Xerox fell 3 1/8 to 59 5/8	Disappointment with the company 's earnings for the quarter led Prudential-Bache Securities to reduce its 1989 and 1990 earnings estimates , according to Dow Jones Professional Investor Report
+8	Computer Associates International , the most active Big Board issue , was another victim of an earnings-related sell-off	The stock fell 3/4 to 12 7/8 as 3.6 million shares were traded in the wake of its report that fiscal second-quarter net income fell 66 % from a year ago
+7	Chubb rallied 3 3/4 to 86 1/2	Aetna Life & Casualty gained 1 3/8 to 61 1/8
+9	Comprehensive Care plunged 4 3/4 to 3 5/8 on 1.2 million shares	The company reported a third-quarter loss and said it is holding talks with its bank lenders for an extension on some overdue debt payments
+2	Comprehensive Care plunged 4 3/4 to 3 5/8 on 1.2 million shares	The company reported a third-quarter loss and said it is holding talks with its bank lenders for an extension on some overdue debt payments
+2	following the postponement of a $ 1.4 billion junk-bond offering that would have permitted Coniston Partners to complete its takeover of the company	it would pursue `` various financing alternatives
+6	Other airline stocks were mixed	AMR rose 3 3/8 to 72 1/4 ; USAir Group fell 1 1/2 to 38 5/8 , and Delta Air Lines rose 1/2 to 66 1/2
+5	AMR rose 3 3/8 to 72 1/4	USAir Group fell 1 1/2 to 38 5/8
+6	Stocks that reportedly benefited Tuesday from a Japanese buy program handled by PaineWebber gave back some of their gains	Procter & Gamble went down 3 1/2 to 130
+9	General Mills gained 2 1/4 to 72 7/8	Goldman Sachs placed the stock back on its list of recommended issues , raised its 1990 earnings estimate and recommended that its clients shift funds from Kellogg to General Mills
+2	General Mills gained 2 1/4 to 72 7/8	Goldman Sachs placed the stock back on its list of recommended issues , raised its 1990 earnings estimate and recommended that its clients shift funds from Kellogg to General Mills
+2	and recommended that its clients shift funds from Kellogg to General Mills	Kellogg dropped 1 3/4 to 73 1/4
+9	Manville advanced 3/4 to 10	The company offered to purchase $ 500 million of convertible preferred stock from the trust that handles its payments to asbestos victims
+5	it is starting negotiations with unidentified parties interested in acquiring its units	Investor Arthur Goldberg is pursuing a $ 32-a-share takeover offer
+9	Esselte Business Systems rose 1 to 43 1/2	Esselte AB of Sweden offered $ 43.50 a share for the 22 % of the company it does n't already own
+2	Esselte Business Systems rose 1 to 43 1/2	Esselte AB of Sweden offered $ 43.50 a share for the 22 % of the company it does n't already own
+9	Public Service of New Hampshire went up 3/8 to 4	Northeast Utilities boosted its offer to acquire the company by $ 400 million , to $ 2.25 billion
+2	Public Service of New Hampshire went up 3/8 to 4	Northeast Utilities boosted its offer to acquire the company by $ 400 million , to $ 2.25 billion
+5	The American Stock Exchange Market Value Index fell 0.44 to 375.92	Volume totaled 8,930,000 shares
+9	Mission Resource Partners lost 5 1/4 to 14 1/8	The partnership , which had solicited takeover offers , said it failed to receive any adequate bids for all of its operations but is reviewing offers for individual properties
+2	Mission Resource Partners lost 5 1/4 to 14 1/8	The partnership , which had solicited takeover offers , said it failed to receive any adequate bids for all of its operations but is reviewing offers for individual properties
+8	so , the maker of cameras and computer printers is doing what any Japanese company would do under the circumstances	It is increasing capital spending -- by 60 %
+6	It is increasing capital spending -- by 60 %	It is building , among other things , a new laser-beam-printer factory in western Japan that can produce up to 150,000 printers next year
+5	that can produce up to 150,000 printers next year	Some 70 % of them are to be exported to the U.S
+6	Even companies in smokestack industries wrestling with world-wide overcapacity are joining the boom	Japan 's steelmakers are raising capital spending 22 % this year to $ 4.8 billion
+6	Japan 's steelmakers are raising capital spending 22 % this year to $ 4.8 billion	Hitachi Zosen Corp. , a shipbuilder buried in debt just a few years ago , will build a machinery plant , its first expansion in 14 years
+2	From a financial standpoint , the boom could n't come at a better time	Many Japanese companies expect record profits this fiscal year
+2	But some economists and government officials here are n't applauding	They fear that the boom may be too big for Japan 's or anyone else 's good
+6	They fear that the boom may be too big for Japan 's or anyone else 's good	It 's an explosive cocktail '' thrown at the world , says Kenneth Courtis , senior economist at the Tokyo unit of Deutsche Bank Group
+5	It 's an explosive cocktail '' thrown at the world , says Kenneth Courtis , senior economist at the Tokyo unit of Deutsche Bank Group	The Ministry of International Trade and Industry is so concerned that it recently took the unusual step of urging Japanese auto companies to exercise caution in capital spending
+2	that it recently took the unusual step of urging Japanese auto companies to exercise caution in capital spending	MITI officials hope to avoid yet-another source of trade friction with the U.S
+6	Not everyone is worried , however	Some economists -- and many Japanese companies -- are puzzled by the warnings
+2	Some economists -- and many Japanese companies -- are puzzled by the warnings	The investment boom is mainly sparked by strong domestic demand and is n't likely to increase exports sharply
+8	Moreover , much investment is n't aimed at increasing capacity	According to a survey of some 2,400 large companies by the Japan Development Bank , expanded capacity is the goal of just 51.8 % of the outlays ; for manufacturers alone , the figure is 32 %
+5	According to a survey of some 2,400 large companies by the Japan Development Bank , expanded capacity is the goal of just 51.8 % of the outlays	for manufacturers alone , the figure is 32 %
+5	for manufacturers alone , the figure is 32 %	14.2 % of their spending is designed to improve products or add new ones , 17.5 % is to cut costs , 12.5 % is for research and development , and the rest is for maintenance and other purposes
+4	But the worriers remain unconvinced	With Japan running enormous trade surpluses against much of the world , they think that Japan should meet the increased domestic demand by importing more
+0	And eventually domestic demand will weaken , forcing companies to emphasize exports again	If there 's a further drive to export that 'll be a problem
+2	Japanese auto makers , for example , are increasing their production capacity in the U.S	the additional production should , in part , replace imported vehicles with locally manufactured ones
+1	In contrast to previous economic booms , Japanese auto companies are n't just trying to boost production	Many are pouring money into developing high-quality products to target affluent consumers and , to some extent , to avoid direct combat with cheaper cars from South Korea and Taiwan
+5	Many are pouring money into developing high-quality products to target affluent consumers and , to some extent , to avoid direct combat with cheaper cars from South Korea and Taiwan	Others are replacing older facilities with flexible assembly lines on which different models can be turned out at once
+8	Many are pouring money into developing high-quality products to target affluent consumers and , to some extent , to avoid direct combat with cheaper cars from South Korea and Taiwan.Others are replacing older facilities with flexible assembly lines on which different models can be turned out at once	So many companies are investing in high-tech machinery that Fanuc Ltd. , a robot maker , also had to build a new plant
+8	at least partly by soaring domestic demand	Japan 's marathon economy , growing at 4.3 % this year , is now in its 35th month of expansion , and some economists are betting that the boom will outlast the record 57-month expansion in the late 1960s
+6	Japanese consumers are increasingly eager to spend their money , especially on high-priced goods such as 29-inch television sets and luxury cars	Nissan Motor Co. 's domestic auto sales are up 20 % this year largely because its expensive Cima , Sylvia and Cefiro models are in heavy demand
+2	that if he had more cars , he 'd sell them right away	that the company is trying to keep up with demand `` by overworking '' its employees
+6	but now are capturing an increased share of the strengthening global market	Sasebo Heavy Industries Co. , a medium-sized shipbuilder , expects its sales to increase 30 % this year , largely because of rising demand for oil tankers
+2	Once one Japanese company steps up its investments , the whole industry follows	to let a competitor 's addition to capacity go unmatched is to concede defeat
+6	The emphasis on market share is evident at Daikin Industries Ltd. , Japan 's biggest maker of industrial air conditioners	Seeing new office buildings sprout up and its sales soar , Daikin is building another plant , which will lift its production capacity 50 % .The expansion is aimed not just at meeting demand but also at expanding the company 's market share to 30 % from 27 % currently
+1	Seeing new office buildings sprout up and its sales soar , Daikin is building another plant , which will lift its production capacity 50 %	The expansion is aimed not just at meeting demand but also at expanding the company 's market share to 30 % from 27 % currently
+5	Besides , Daikin 's major competitors , Hitachi Ltd. and Mitsubishi Heavy Industries Ltd. , `` are all adding production lines	Until now , we were trying to increase productivity with the facilities we already had.But we ca n't produce enough anymore
+6	The competition is even more heated in the auto industry , where companies are racing one another in a world-wide market	Nissan aims to expand its 25 % share of the market to 30 % by spending $ 141 million on a plant in southern Japan that could make as many as 240,000 cars a year
+5	Nissan aims to expand its 25 % share of the market to 30 % by spending $ 141 million on a plant in southern Japan that could make as many as 240,000 cars a year.Meanwhile , Toyota Motor Corp. 's $ 247 million buildup is increasing its annual capacity by 180,000 cars , and Honda is spending $ 317 million on expansion	but it boldly aims to double its annual domestic sales to 800,000 cars in the next four years
+6	that many new products are n't replacements for imports	Although imports account for less than 1 % of beer sales in Japan , Asahi Breweries Ltd. , which has been gaining share with its popular dry beer , plans to fend off Japanese competitors by pouring $ 1.06 billion into facilities to brew 50 % more beer
+2	Toshiba Corp. , for example , is spending $ 986 million on two new plants to build four-megabit dynamic random access memories , the next generation of computer chips	but Toshiba , which has already beaten everyone else in producing the current-generation one-megabit DRAMs , believes that its early investment will heighten its chances of beating its competitors again
+6	Meanwhile , Toshiba 's Japanese rivals , Hitachi , Fujitsu Ltd. and NEC Corp. , are n't sitting still	After doubling production in one plant , NEC is spending $ 275 million to build another plant that , in two years , will be able to make a million four-megabit DRAMs a year
+0	After doubling production in one plant , NEC is spending $ 275 million to build another plant that , in two years , will be able to make a million four-megabit DRAMs a year	The new chip plants `` wo n't be excessive investment
+2	The new chip plants `` wo n't be excessive investment	We have enough products to make and the markets to sell these products
+6	Some of Japan 's goods being produced as a result of the investment boom are already successful overseas	Toyota 's $ 35,000 Lexus automobile , a luxury model that it started shipping to the U.S. only last month , is racking up orders at a time when U.S.-made luxury-car sales are slow
+2	Toyota 's $ 35,000 Lexus automobile , a luxury model that it started shipping to the U.S. only last month , is racking up orders at a time when U.S.-made luxury-car sales are slow	Toyota plans to raise Lexus exports when a new plant starts up next year
+8	Japanese companies have a caveat competitor attitude	If excess capacity develops not everyone will suffer
+8	not everyone will suffer	The losers will be those with the least attractive products
+8	the restructuring 's initial phase will feature a gradual reduction in assets and staff positions	The plan may include selling branches , consolidating or eliminating departments , and winding down or disposing of unprofitable units within 18 months
+1	Net income fell 37 % to $ 32.9 million , or 30 cents a share , from $ 52.2 million , or 48 cents a share , in the year-ago period	Revenue rose 15 % to $ 534.3 million from $ 464.7 million
+6	Amdahl 's results were somewhat worse than expected	he expected the Sunnyvale , Calif. , company to earn 35 cents a share for the quarter
+5	So far , AIDS has stricken 1,859 children under age 13 , with many times that number believed to carry the infection without symptoms	To date , 1,013 of those children have died , according to the federal Centers for Disease Control
+1	Thank goodness it 's happening	It should have happened sooner
+9	and transmitted it to two of her children	One of them , a daughter Ariel , died a year ago at age seven after her parents unsuccessfully pleaded for the drug
+1	But my daughter could n't , until she was too ill to take it.To watch your child die is an inhuman experience	Her son , healthy and symptom-free , currently takes no medication
+7	The delay in getting AZT to children has been blamed on a combination of factors	Traditionally , the medical establishment has waited two years to approve adult treatments for pediatric uses , because of a combination of conservative safety standards and red tape
+8	why it 's taken so long	Why has it taken people so long for people to understand pediatric AIDS is a major problem
+8	it 's taken much too long to get to this point	Why did it take Burroughs Wellcome so long to apply '' for treatment investigational new drug status
+4	There 's no finger to be pointed	The crucial thing is that we learn our lesson well , and to make sure other experimental drugs , like Bristol-Myers Co. 's DDI , do n't follow the same frustrating course as AZT
+1	AIDS dementia is often the most striking aspect of the pediatric syndrome	For some patients , AZT has restored the ability to ride a bicycle or solve puzzles
+2	Currently , Avon , based in Santa Monica , Calif. , has 3.3 million common shares outstanding	About 1.1 million Class C warrants were issued
+5	About 1.1 million Class C warrants were issued , the company said	Each of the Class C warrants will enable the holders to purchase one share of common stock at $ 5.50
+5	Each of the Class C warrants will enable the holders to purchase one share of common stock at $ 5.50	The warrants may be exercised until 90 days after their issue date
+5	it will issue an additional 243,677 of the Class C warrants to holders of its Class A , Class B and unclassified warrants	Issuance of those warrants will be at the rate of one-third warrant for each warrant exercised
+2	THE BIG BOARD PLANS to launch its own vehicle for program trading today amid growing controversy over the practice	The new `` baskets '' of stocks will allow big investors to buy or sell all 500 S & P index stocks in a single trade
+5	The new `` baskets '' of stocks will allow big investors to buy or sell all 500 S & P index stocks in a single trade	that the product , which the SEC temporarily approved yesterday , will help ease rather than worsen any volatility in the stock market
+7	Financial markets quieted , with stock prices edging lower , bonds inching up and the dollar almost unchanged	The Dow Jones industrials closed off 5.94 points , at 2653.28
+5	profit slid 22 % in the third quarter	net fell 3.1 %
+1	Campeau reportedly may receive a $ 1.3 billion offer for Bloomingdale 's from Tokyu Department Store of Japan	Campeau declined to comment
+5	Stocks : Volume 155,650,000 shares	Dow Jones industrials 2653.28 , off 5.94 ; transportation 1199.32 , off 11.38 ; utilities 216.49 , up 1.45
+2	The chamber voted 231-191 , 51 votes short of the two-thirds majority needed to overturn the president 's veto of legislation renewing support of Medicaid abortions for poor women who are victims of rape and incest	The roll call was considered an illustration of the limits of power that the resurgent abortion-rights movement faces
+1	The FDA is expected to approve today a program granting access free of charge to the drug AZT for children with AIDS	Adults have had access to the only approved antiviral drug since 1987
+5	NATO defense ministers said the 16-nation alliance continues to need a strong nuclear strategy despite political changes in Eastern Europe	The ministers , concluding a two-day meeting in southern Portugal , welcomed Moscow 's pledges to cut its military forces , but urged the Soviets to do more to slash short-range nuclear weapons
+2	a possible challenge to a court order allowing former National Security Adviser Poindexter to subpoena ex-President Reagan 's personal papers for use in the defense case against Iran-Contra charges	the ruling `` raised a serious question '' about the office of the president
+2	A landslide engulfed a hillside slum in Sao Paulo , Brazil , and at least 20 people , most of them children , were missing and feared dead	The city 's mayor vowed to take legal action against developers who had been excavating at the crest of the hill
+6	he supports broad political and economic restructuring	Ladislav Adamec pledged changes in Czechoslovakia , including freer travel to the West
+2	It certainly was n't intended to be a demotion	Pete and Jeff and Joe Jr. have taken over the reins and are doing most of the work
+2	Pete and Jeff and Joe Jr. have taken over the reins and are doing most of the work	this will affect that
+5	Jeffrey , Peter and Joseph Jr. are brothers	William Coors is their uncle
+5	Jeffrey , Peter and Joseph Jr. are brothers.William Coors is their uncle	Jeffrey , Peter , Joseph Jr. , William and Joseph Sr. constitute the company 's board
+5	Peter Coors runs the Coors Brewing Co. unit , the nation 's fourth-largest brewery that accounted for $ 1.24 billion of Adolph Coors 's $ 1.52 billion in 1988 sales	Joseph Jr. runs Coors Ceramics Co. , the other operating unit , which had about $ 150 million in 1988 sales
+5	The current decline in failures continues a trend begun in late 1987	The drop accelerated in this year 's third quarter , underscoring an overall lack of stress in the U.S. economy
+1	Failures in seven of nine regional areas fell more than 10 % in the nine months	The South Atlantic States were the only region to report an increase in bankruptcies , up 5.3 % to 5,791 from 5,502
+8	Failures in seven of nine regional areas fell more than 10 % in the nine months	The South Atlantic States were the only region to report an increase in bankruptcies , up 5.3 % to 5,791 from 5,502
+1	A major Tokyo newspaper reported that a Japanese department store concern is planning to offer about $ 1.3 billion to buy Bloomingdale 's	Campeau Corp. , the chain 's owner , declined to comment on the report
+1	but she declined to comment on whether any actual bids had been made	Nihon Keizai Shimbun , Japan 's leading economic newspaper , reported Wednesday that Tokyu Department Store Co. is planning to team up with U.S. and Western European financing to buy the New York-based retail chain , which Campeau has put up for sale
+1	Nihon Keizai Shimbun , Japan 's leading economic newspaper , reported Wednesday that Tokyu Department Store Co. is planning to team up with U.S. and Western European financing to buy the New York-based retail chain , which Campeau has put up for sale	The service did n't identify its Tokyu sources
+5	This is the first of many rumors we expect to hear during the sale 's process	We wo n't comment on them
+1	Nobody is going to make a real bid before the middle of November	Tokyu is one of the potential buyers who might raise its hand
+5	Bloomingdale 's is a 17-store chain acquired last year by Campeau in its $ 6.6 billion acquisition of Federated	Bloomingdale 's does an estimated $ 1.2 billion in annual sales
+8	The suit , filed in U.S. District Court in Manhattan , seeks class-action status	The suit accuses the retailer and several of its officers of making false and misleading statements about the company 's business affairs
+5	The suit accuses the retailer and several of its officers of making false and misleading statements about the company 's business affairs	The suit says the company failed to disclose material adverse information about its financial condition
+5	According to Securities and Exchange Commission rules , McCaw is required to keep its offer for the cellular-phone and broadcasting concern open for at least five business days after the announcement of the financing	McCaw 's offer is scheduled to expire tomorrow
+8	it obtained `` firm '' financing commitments from three major banks in regard to its bid to control LIN Broadcasting	The banks jointly committed $ 1.2 billion of financing , subject to certain conditions
+2	the company was `` moving forward with our financing	that `` hopefully LIN will conduct a fair auction
+5	StatesWest asked Mesa to repond by Oct. 31	Mesa President Larry Risley said his board had received Stateswest 's most recent offer and was reviewing it
+5	The catalog retailer reported net income of $ 10.8 million , or 21 cents a share , up sharply from $ 6.6 million , or 13 cents a share , a year earlier	Revenue rose to $ 372.1 million from $ 336.4 million
+5	margins improved because its inventory position this year did n't need the costly markdowns required to trim last year 's swollen levels	the apparel market troughed in the first half of 1988 , then began showing improvement in the second half of last year
+5	then began showing improvement in the second half of last year	We 've seen continued improvement in 1989
+5	For the latest nine months , Spiegel 's net climbed a solid 47 % to $ 23.8 million , or 46 cents a share , from $ 16.2 million , or 34 cents	Unlike the quarter 's results , which were based on roughly equal shares outstanding , nine-month per-share figures reflect an increase in average common shares outstanding to 51.9 million from 47 million
+5	For the latest nine months , Spiegel 's net climbed a solid 47 % to $ 23.8 million , or 46 cents a share , from $ 16.2 million , or 34 cents.Unlike the quarter 's results , which were based on roughly equal shares outstanding , nine-month per-share figures reflect an increase in average common shares outstanding to 51.9 million from 47 million	Nine-month revenue was $ 1.02 billion , up 22 % from $ 841.5 million
+8	what the rejection says about the state of mind of junk buyers	Apparently they are learning to say no to excess risk
+0	But Coniston , a New York partnership managed by the firm of Gollust , Tierney & Oliver , yesterday announced that `` in view of unsettled conditions in securities markets '' the offering would be postponed and restructured	What was n't mentioned is that Coniston and its investment banker , Donaldson , Lufkin & Jenrette , just completed a two-week `` road show '' for the purpose of marketing the bonds
+8	TW 's junk bonds were n't , as junk bonds go , unusually weak	Its fast-food restaurants -- including Denny 's , Hardee 's , Quincy 's and El Pollo Loco ( `` the only significant fast-food chain to specialize in char-broiled chicken '' ) -- are stable , recession-resistant and growing
+8	But people do n't buy anything on expectation anymore	Investors are getting religion
+2	The TW buy-out may yet be financed	There is nothing wrong with the company
+4	There is nothing wrong with the company	The rub is that `` the junk market is n't as deep '' as before
+5	Gollust , Tierney & Oliver is likely to contribute more than the $ 120 million in equity it had planned on	Banks may contribute more senior debt
+1	that `` very few people said they did n't like the credit quality	People said they did n't think a billion-dollar deal would trade
+5	that if the acquisition had been completed earlier , pretax earnings `` would have been insufficient to cover its fixed charges , including interest on debt securities , '' by approximately $ 62.7 million in the first six months of 1989	that `` adjusted to eliminate non-cash charges '' TW would have run a cash surplus -- in this case , of $ 56 million over six months
+2	But they wo n't necessarily eat at Denny 's	The fast-food business is `` intensely competitive
+5	The fast-food business is `` intensely competitive	that TW historically has prospered because it has been willing to spend aggressively on remodeling restaurants and redoing menus
+1	We were concerned that they were n't going to generate enough cash for capital spending and also to pay down debt	that TW could , if necessary , cut capital spending , since half of what it plans to spend is for `` growth , '' rather than maintenance
+2	that under the shelved offering , TW would have needed to grow to meet its debt payments	Its calculations for meeting cash charges ignore $ 52 million a year in interest on cash-deferred , or zero-coupon debentures -- which ultimately would have had to be paid
+1	there can be no assurance '' that future growth will continue at past levels	In the recent past , bond buyers did n't seek such assurance
+1	In the recent past , bond buyers did n't seek such assurance	Now , apparently , they do
+2	Maggie Thatcher must be doing something right	her political enemies are screaming louder than ever
+2	A disastrous farce in Malaysia	She can no longer be trusted to behave in a civilised -- that is unflaky -- fashion when abroad
+5	A disastrous farce in Malaysia , '' screamed the Manchester Guardian . `` She can no longer be trusted to behave in a civilised -- that is unflaky -- fashion when abroad . '' Egad.Canada 's Brian Mulroney and Australia 's Bob Hawke , the paper said , were `` enraged	The London Times said she had `` contravened protocol
+8	saying what she thought	She issued a separate statement , separating herself from a Commonwealth document reasserting the political value of imposing sanctions against South Africa
+8	separating herself from a Commonwealth document reasserting the political value of imposing sanctions against South Africa	While supporting the Commonwealth `` in utterly condemning apartheid , '' her statement urged it to `` encourage change '' rather than inflict further punishment on the country 's black population
+8	Actually there is a consensus somewhere on sanctions	In May a Gallup Poll found that most South African blacks , 85 % , oppose economic sanctions
+2	Still , Mrs. Thatcher had once again gone against the grain	Malaysia 's Prime Minister Mahathir Mohamad sniffed , `` If everybody else puts out their left foot and you put out your right foot , you are out of step
+1	Malaysia 's Prime Minister Mahathir Mohamad sniffed , `` If everybody else puts out their left foot and you put out your right foot , you are out of step	Mrs. Thatcher : `` If it 's one against 48 , I 'm very sorry for the 48
+5	Malaysia 's Prime Minister Mahathir Mohamad sniffed , `` If everybody else puts out their left foot and you put out your right foot , you are out of step	Mrs. Thatcher : `` If it 's one against 48 , I 'm very sorry for the 48
+1	We can not , however , join the political chorus that as one proclaims how offputting it is that Mrs. Thatcher refuses to get along by going along	It is refreshing to see at least one world figure who knows what she believes in and is not inclined to reflexively compromise those beliefs
+8	That sign is wrong	It should read , `` Have You Anything Left
+8	But while the Composite gained 1.19 , to 462.89 , many issues did n't participate in the advance	It was a mixed bag
+8	It was a mixed bag	We played catch-up in some areas , and sold off in some others
+5	Volume totaled 132.1 million shares , which is about average for the year	Of the 4,348 issues that changed hands , 1,074 advanced and 866 declined
+8	Big financial stocks carried the day	The Nasdaq Financial Index rose 2.09 , to 454.86
+6	Despite the Composite 's advance , some trading officials are guardedly optimistic that the market is on the road to recovery	Lance Zipper , head of over-the-counter trading at Kidder Peabody , said it is difficult to make predictions based on yesterday 's trading volume
+2	it is difficult to make predictions based on yesterday 's trading volume	The advance felt more like a technical bounce
+1	The market acted better , but it was n't a tremendous comeback	If we get a decent rally { today } , maybe the buyers will come back
+8	If E.E . `` Buzzy '' Geduld is right	The president of Herzog , Heine , Mr. Geduld expects the market to be `` very choppy '' for a while
+8	the market to be `` very choppy '' for a while	There 's a lot of uncertainty out there , and it will cause a lot of swings
+1	Among active stocks , MCI Communications rose 7/8 to 43 on 2.2 million shares , Mentor Graphics added 1/8 to 16 3/8 on turnover of 1.5 million shares	Apple Computer dropped 1 1/8 to 46 1/2 on one million shares
+5	Apple Computer dropped 1 1/8 to 46 1/2 on one million shares	but the issue was unchanged at 17 3/4
+6	Biotechnology issues were strong	Amgen advanced 1 1/2 to 56 ; Chiron jumped 2 to 29 3/4 ; Cetus gained 1 to 16 7/8 and Biogen rose 5/8 to 14 5/8
+5	Amgen advanced 1 1/2 to 56	Chiron jumped 2 to 29 3/4
+7	Amgen advanced 1 1/2 to 56 ; Chiron jumped 2 to 29 3/4	Cetus gained 1 to 16 7/8 and Biogen rose 5/8 to 14 5/8
+5	The American depositary receipts of Jaguar jumped 3/8 to 11 5/8 on turnover of 1.9 million	it raised its stake in the British car maker to 12.45 % of the ordinary shares outstanding
+1	it holds 22.8 million ordinary shares	it is prepared to make a bid for all of the shares outstanding of Jaguar if British government restrictions to such a transaction are removed
+6	Other stocks were affected by corporate earnings	Informix , which recently said third-quarter net income rose to 16 cents a share from a penny a share a year ago , gained 1 5/8 to 13 5/8 on 810,700 shares
+2	Cimflex Teknowledge rose 13/16 , or 39 % , to 2 7/8 on volume of 494,100 shares	The maker of software products and services , which had a net loss in the 1988 third quarter , earned 200,000 , or a penny a share , in this year 's quarter
+2	Star States plunged 3 1/4 to 8 3/4 on 207,000 shares	The company suffered a $ 9 million loss in the third quarter , compared with net of $ 2.5 million a year earlier
+0	Collagen dropped 2 5/8 to 15 5/8 on 428,000 shares	In its fiscal-first quarter ended Sept. 30 , the biomedical-products maker earned 10 cents a share , up from eight cents a share in the 1988 quarter , which included an extraordinary credit
+10	One day last March , CBS Sports President Neal Pilson and Olympics superagent Barry Frank met for lunch at the Lotos Club here	Mr. Frank told Mr. Pilson that Olympics officials wanted $ 290 million or more for TV rights to the 1994 Winter Games in Norway
+5	Mr. Frank told Mr. Pilson that Olympics officials wanted $ 290 million or more for TV rights to the 1994 Winter Games in Norway	The CBS official said that price sounded fine
+9	Mr. Frank told Mr. Pilson that Olympics officials wanted $ 290 million or more for TV rights to the 1994 Winter Games in Norway	The CBS official said that price sounded fine
+5	At that price , CBS was the only player at the table when negotiations with the International Olympic Committee started in Toronto Aug. 23	that ABC and NBC had refused to even bid
+2	At that price , CBS was the only player at the table when negotiations with the International Olympic Committee started in Toronto Aug. 23	that ABC and NBC had refused to even bid
+5	Mr. Pilson and his team huddled in a hallway and took just 10 minutes to return with a $ 300 million offer	Mr . Pound responded , `` It 's a deal
+9	Mr. Pilson and his team huddled in a hallway and took just 10 minutes to return with a $ 300 million offer	Mr . Pound responded , `` It 's a deal
+9	Mr . Pound responded , `` It 's a deal	A beaming Mr. Pilson announced his lastest coup at a news conference that afternoon
+2	Mr. Pilson 's rivals at ABC and NBC grimaced at the price	How could CBS get pushed into outbidding itself
+8	With CBS Inc. on a spending spree that may top $ 2.5 billion for four years of major sports events , the new bout of hyperinflation could jolt the entire broadcast business	CBS itself could run up losses of a few hundred million dollars on four years of various sports if its big gamble goes wrong
+3	While rights fees head skyward , ad rates wo n't	Advertisers already are balking at higher prices
+6	Advertisers already are balking at higher prices	The networks are paying too much for rights , '' warns adman Paul Isacsson of Young & Rubicam
+2	The networks are paying too much for rights	If they ask advertisers to absorb the costs , they 're likely to lose all but a few who need sports , above all
+2	Viewers may not be cheering , either	Soaring rights fees will lead to an even greater clutter of commercials
+0	Mr. Pilson emphasizes the ancillary benefits of positive press , contented affiliate stations , enthusiastic advertisers and huge audiences that might stick around to watch other CBS programs when the game is over	The billion-dollar question is , How much are those benefits worth
+2	that CBS could run up	those deals can turn sour if the numbers do n't work
+8	CBS pursues top sports `` to belie the fact that they are n't supporting affiliates , viewers and advertisers	They lost the entertainment crown , and they needed one.And they 've bought one
+5	On just three big deals -- for four years of baseball and for the Olympic Winter Games in both 1992 and 1994 -- Pilson bid a total of $ 1.64 billion	That 's well over half a billion dollars more than ABC and NBC were willing to pay
+1	On just three big deals -- for four years of baseball and for the Olympic Winter Games in both 1992 and 1994 -- Pilson bid a total of $ 1.64 billion	That 's well over half a billion dollars more than ABC and NBC were willing to pay
+8	Now , Mr. Pilson -- a former college basketball player who says a good negotiator needs `` a level offocus and intellectual attention '' similar to a good athlete-s is facing the consequences of his own aggressiveness	Next month , talks will begin on two coveted CBS contracts , for the pro and college basketball finals.CBS is likely to spend whatever it takes to keep them.The potential bill : more than $ 600 million for several seasons , an 80 % jump
+10	Next month , talks will begin on two coveted CBS contracts , for the pro and college basketball finals	CBS is likely to spend whatever it takes to keep them
+8	CBS is likely to spend whatever it takes to keep them	The potential bill : more than $ 600 million for several seasons , an 80 % jump
+2	CBS is likely to spend whatever it takes to keep them	The potential bill : more than $ 600 million for several seasons , an 80 % jump
+5	Next month , talks will begin on two coveted CBS contracts , for the pro and college basketball finals.CBS is likely to spend whatever it takes to keep them.The potential bill : more than $ 600 million for several seasons , an 80 % jump	A few months later , CBS 's college and pro football contracts come up for renewal ; they could go for close to $ 100 million more than CBS now pays , a 40 % to 50 % rise
+10	A few months later , CBS 's college and pro football contracts come up for renewal	they could go for close to $ 100 million more than CBS now pays , a 40 % to 50 % rise
+6	What happens to those two basketball contracts will shape the next five years of network sports	NBC may `` come in with a huge bid for college basketball to take it away from CBS and say , 'We can overbid , too
+3	Mr. Pilson is an unlikely big spender	In the mid-1980s he sniped at rivals for paying reckless prices
+5	I love Pilson , but he was the guy who complained most bitterly and loudly , '' says Robert Wussler , a former CBS Sports president . `` And yet his company is one reason why rights are so high today	Rivals carp at `` the principle of Pilson , '' as NBC 's Arthur Watson once put it -- `` he 's always expounding that rights are too high , then he 's going crazy
+3	But the 49-year-old Mr. Pilson is hardly a man to ignore the numbers	A Yale law school graduate , he began his career in corporate law and then put in years at Metromedia Inc. and the William Morris talent agency.In 1976 , he joined CBS Sports to head business affairs and , five years later , became its president
+9	A Yale law school graduate , he began his career in corporate law and then put in years at Metromedia Inc. and the William Morris talent agency	In 1976 , he joined CBS Sports to head business affairs and , five years later , became its president
+5	that when he spoke out a few years ago , `` I did n't say forever , and I did n't say every property	The market changed
+9	that when he spoke out a few years ago , `` I did n't say forever , and I did n't say every property	The market changed
+6	And he is n't the only big spender	NBC will pay a record $ 401 million for the 1992 Summer Games
+1	Our competitors say we overbid them	Who cares
+8	Mr. Pilson 's `` Major Events '' strategy jelled after Mr. Tisch took over	Mr. Pilson recalls that in April 1986 , after CBS 's annual meeting in Philadelphia , he and Mr. Tisch took the 90-minute train ride back to New York , and Mr. Pilson used this extended private audience to outline his ambitions.Mr . Tisch , a billionaire in hotels and finance , was just learning the TV business.Five months later , Mr. Tisch took over as CBS 's chief executive , and soon he was wielding sole approval each time Mr. Pilson scribbled a frighteningly large figure on a slip of paper , sealed it in an envelope and gave it to sports negotiators Then , in May 1988 , Mr. Tisch urgently needed to make a bold statement to quell rumors that he might sell the network.Mr . Pilson gave him one : He bid $ 243 million for rights to the 1992 Winter Games in Albertville , France ; ABC and NBC would n't bid even $ 200 million
+10	Then , in May 1988 , Mr. Tisch urgently needed to make a bold statement to quell rumors that he might sell the network	Mr. Pilson gave him one : He bid $ 243 million for rights to the 1992 Winter Games in Albertville , France ; ABC and NBC would n't bid even $ 200 million
+6	Mr. Pilson gave him one	He bid $ 243 million for rights to the 1992 Winter Games in Albertville , France
+1	He bid $ 243 million for rights to the 1992 Winter Games in Albertville , France	ABC and NBC would n't bid even $ 200 million
+2	It 's also a fast fix for an ailing image	flashy sports as the only way the last-place network can cut through the clutter of cable and VCRs , grab millions of new viewers and tell them about other shows premiering a few weeks later
+5	I 've been struggling against that for years	Even if baseball triggers losses at CBS I 'd rather see the games on our air than on NBC and ABC
+2	That is n't surprising	Regular TV series ratings have slumped in the past five years , and premiering new shows is `` a crap shoot
+2	That will please once-grumpy affiliates -- another aim of the Pilson plan	They gleefully await the `` dream season '' in 1990
+2	They gleefully await the `` dream season '' in 1990	CBS will air the Super Bowl , baseball playoffs , college and pro basketball finals and other premier sports events
+8	They gleefully await the `` dream season '' in 1990	CBS will air the Super Bowl , baseball playoffs , college and pro basketball finals and other premier sports events
+2	CBS will air the Super Bowl , baseball playoffs , college and pro basketball finals and other premier sports events	It 's made me more committed to CBS
+2	The CBS plan to use big-time sports as a platform for other series carries no guarantee of success , however	No amount of hype will bring viewers back if the shows are weak
+8	The CBS plan to use big-time sports as a platform for other series carries no guarantee of success , however.No amount of hype will bring viewers back if the shows are weak	In this market of 40 channels , sophisticated viewers and the remote control , trial is n't a guarantee of anything If the show ai n't a killer , they 're gone
+2	In this market of 40 channels , sophisticated viewers and the remote control , trial is n't a guarantee of anything	If the show ai n't a killer , they 're gone
+5	During the 1984 Summer Games , for example , ABC touted `` Call to Glory , '' but the military drama was missing in action within weeks	Last October , during the 1988 Summer Games , NBC relentlessly pitched a new series , `` Tattingers . '' It belly-flopped anyway
+0	Last October , during the 1988 Summer Games , NBC relentlessly pitched a new series , `` Tattingers	It belly-flopped anyway
+5	Moreover , sports is hardly the best way to lure adult women	most advertisers buy based on ratings for women aged 18 to 49
+2	Nor is CBS a shoo-in to get blockbuster ratings	In recent years , the World Series and the Olympics were aired against CBS 's last-place lineup.But CBS will put the athletes up against Bill Cosby , `` Cheers '' and other shows in NBC 's No . 1 schedule
+8	Nor is CBS a shoo-in to get blockbuster ratings	In recent years , the World Series and the Olympics were aired against CBS 's last-place lineup.But CBS will put the athletes up against Bill Cosby , `` Cheers '' and other shows in NBC 's No . 1 schedule
+2	Even the boon to affiliate relations may be limited	The sports lineup may add only 1 % to 5 % to a station 's annual profits
+2	The sports lineup may add only 1 % to 5 % to a station 's annual profits	It alone is n't likely to stop a station from dumping CBS shows
+6	It alone is n't likely to stop a station from dumping CBS shows	The World Series , seven nights , was n't enough of an incentive
+5	The World Series , seven nights , was n't enough of an incentive	You 've got to judge where the network will be in three years
+6	And avoiding such losses will take a monumental effort	On the $ 1.06 billion baseball agreement alone , CBS is likely to lose $ 250 million in four years
+1	only that CBS will lose money on baseball in the first year	It 's too early to tell '' what happens after that
+0	CBS took to get an unprecedented lock on all playoff games	If the playoffs end in four-game sweeps , losses could soar
+6	Advertisers are resisting higher prices	CBS signed General Motors and Toyota to be the only auto-maker sponsors in baseball for four years.Price : $ 265 million But ad executives who negotiated the deal say that works out to only $ 275,000 for a 30-second ad in the World Series through 1993 -- 17 % less than what ABC is charging for the Series this month
+8	The Winter Games outlook also is mixed	CBS expects to make modest profits , but rivals contend that it will take a beating
+2	but rivals contend that it will take a beating	ABC lost $ 75 million on the 1988 Winter Games , partly because of its $ 309 million rights fee
+9	but rivals contend that it will take a beating	ABC lost $ 75 million on the 1988 Winter Games , partly because of its $ 309 million rights fee
+8	ABC lost $ 75 million on the 1988 Winter Games , partly because of its $ 309 million rights fee	but still failed to deliver the audience promised to advertisers
+2	and ratings could be hurt by a lack of live events	All prime-time fare will be on tape-delay because of time differences with Norway , so the results can be announced on the 6 o'clock news
+5	All prime-time fare will be on tape-delay because of time differences with Norway , so the results can be announced on the 6 o'clock news	Turner Broadcasting will pay CBS $ 25 million to air 50 hours of CBS coverage plus 50 hours of
+2	that even if CBS loses , say , $ 10 million , it matters little	Ten million ai n't jack , man , when you got $ 3 billion sitting in the bank
+8	Ten million ai n't jack , man , when you got $ 3 billion sitting in the bank	It does n't mean anything -- it 's public-relations money
+2	Moreover , sports has `` claimed its place '' as a guaranteed ratings-getter	This is n't outlandish bidding
+4	This is n't outlandish bidding	this is a situation of very careful businessmen making judgments about the worth of product and acting on it
+2	this is a situation of very careful businessmen making judgments about the worth of product and acting on it	I would tend to trust their judgment
+2	That 's easy for him to say	CBS 's four-year NBA pact , now at $ 176 million for four years , could double in price by the time his talks with Mr. Pilson are completed later this month
+1	And CBS takes in the least money in prime time	ABC and NBC charge 30 % to 35 % more for ads , according to a Variety survey
+6	and the risks go up with each new sports package that CBS locks up	Although sports officials predict jumps of 50 % to 100 % in the major contracts coming up for renewal , ad rates may rise only 20 %
+2	and the risks go up with each new sports package that CBS locks up	Although sports officials predict jumps of 50 % to 100 % in the major contracts coming up for renewal , ad rates may rise only 20 %
+2	Although sports officials predict jumps of 50 % to 100 % in the major contracts coming up for renewal , ad rates may rise only 20 %	CBS hopes to save money by ordering fewer episodes of regular series because sports will fill up a few weeks of prime time
+2	But the savings will be minuscule	Each hour of Olympics and baseball in prime time will cost CBS $ 2.6 million to $ 2.8 million ; an hour-long drama costs only $ 900,000
+1	Each hour of Olympics and baseball in prime time will cost CBS $ 2.6 million to $ 2.8 million	an hour-long drama costs only $ 900,000
+2	Wall Street wo n't take kindly to that	On a stand-alone basis , the network ought to make money
+4	When Mr. Pilson is asked directly -- can you make money on all this ? -- he does n't exactly say yes	What you 're really asking is , Are the profit and loss margins anticipated on the events acceptable to management ? '' he says
+5	Yes , they are	That 's the only question we need to address
+2	Place a phone order through most any catalog and chances are the clerk who answers wo n't be the only one on the line	Bosses have big ears these days
+8	Or open up an electronics magazine and peruse the ads for sneaky tape recorders and other snooping gadgets	Some would make even James Bond green with envy
+2	New technologies are changing the way we deal with each other and the way we work	Our expectation of confidentiality is being eroded
+5	that monitoring employee phone conversations is both legal and necessary to gauge productivity and ensure good service	The practice is common at catalog , insurance and phone companies , banks and telemarketers , according to trade groups and worker organizations
+6	The Communications Workers of America says supervisors listen in on an estimated 400 million calls each year	Among companies saying they monitor employees are United Airlines , American Airlines , United Parcel Service , Nynex Corp. , Spiegel Inc. , and the circulation department of this newspaper
+5	Among companies saying they monitor employees are United Airlines , American Airlines , United Parcel Service , Nynex Corp. , Spiegel Inc. , and the circulation department of this newspaper	Some Wall Street firms monitor for recordkeeping purposes
+5	Businesses `` want to verify information and ensure accuracy	The state of Alaska recently bought the Veritrac system to monitor the Exxon cleanup effort
+5	they use voice-activated systems to record and verify orders between salesmen and traders	it has taped some of its institutional trading desks , such as commodities and futures , for about four years
+5	The Counter Spy Shop in Washington , D.C. , for instance , offers the `` Secret Connection '' attache case , which can surreptitiously record conversations for nine hours at a stretch	but simple voice-activated tape recorders sell for as little as $ 70 at electronics stores like Radio Shack
+2	The most common use of spying devices is in divorce cases	they can mean leverage in a settlement
+8	lawmakers have proposed laws addressing the issue	Nine states have introduced bills requiring that workers and customers be made aware of monitoring
+7	Two bills in Congress hope to make such restrictions national	In May , Rep. Don Edwards ( D.Calif . ) introduced congressional legislation that would require an audible beeping during any employee monitoring , warning people that they are being heard
+2	The outlook on both federal bills is uncertain	The ACLU and worker organizations back tighter laws , but employers and device manufacturers object
+5	which is lobbying strenuously against the Edwards beeper bill Spiegel also opposes the beeper bill	Laura Dale , center manager at the catalog company 's customer order center in Reno , Nev. , defends monitoring
+2	Laura Dale , center manager at the catalog company 's customer order center in Reno , Nev. , defends monitoring	We like to follow up and make sure operators are achieving our standards of company service
+2	the telephone company needs to monitor operators to evaluate performance during the first six months on the job	Sometimes we 'll pull someone off the phones for more training
+5	new laws are needed because monitoring is heavily concentrated in service industries and 81 % of monitored workers are n't represented by unions	that monitoring not only infringes on employee privacy , but increases stress
+8	because of a giant loophole in the one-party consent law	Currently , if the person taping is a party to the conversation , it 's all right to record without the knowledge of the other person on the line . ( Intercepting other people 's private conversations is illegal and punishable by five years in prison and fines of $ 10,000
+0	Currently , if the person taping is a party to the conversation , it 's all right to record without the knowledge of the other person on the line	Intercepting other people 's private conversations is illegal and punishable by five years in prison and fines of $ 10,000
+5	The electronics industry is closely following the Dellums bill	Some marketers of surveillance gear -- including Communication Control System Ltd. , which owns the Counter Spy Shop and others like it -- already put warning labels in their catalogs informing customers of the one-party law
+2	it has a policy against selling products if a salesperson suspects they will be used illegally	Everything sold at Radio Shack has a legal purpose
+2	Everything sold at Radio Shack has a legal purpose	but that requiring a beeping tone on recorders `` would be ludicrous
+8	A few years ago , the company voluntarily stopped selling `` The Big Ear , '' a powerful microphone	With its ability to pick up rustlings and flapping wings , `` it was meant to be a toy for children for bird watching
+0	A few years ago , the company voluntarily stopped selling `` The Big Ear , '' a powerful microphone	With its ability to pick up rustlings and flapping wings , `` it was meant to be a toy for children for bird watching
+2	that its marketing focus would differ sharply from IBM 's	This is not your father 's mainframe It 's a whole new generation
+4	This is not your father 's mainframe	It 's a whole new generation
+5	the 16 new J and JH models will generally be available immediately , though three wo n't ship until the third quarter of next year	Prices on the larger models , which range as high as $ 13 million , generally wo n't change
+1	Prices on the larger models generally wo n't change	Small models will carry higher prices
+5	Digital 's VAX 9000 mainframes were priced from $ 1.2 million to $ 3.9 million , sharply lower than IBM models of comparable power	The first models will ship in the spring , with the largest following in the fall
+8	Analysts were disappointed that Digital 's new line apparently wo n't contribute much to earnings before the next fiscal year	Jay Stevens of Dean Witter Reynolds Inc. said he may cut his earnings estimate for the current fiscal year because he had expected at least some mainframe profit this year
+1	After the announcement yesterday , Digital shares gained $ 1.25 to close at $ 89.875 in New York Stock Exchange composite trading	IBM shares closed at $ 103 , down 50 cents , in Big Board trading
+2	Analysts have predicted strong pent-up demand for the new line among Digital 's customers	Large Digital buyers say the new VAX will let them stay with Digital when they need the power of a mainframe , instead of turning to IBM
+8	Analysts have predicted strong pent-up demand for the new line among Digital 's customers	Large Digital buyers say the new VAX will let them stay with Digital when they need the power of a mainframe , instead of turning to IBM
+5	Large Digital buyers say the new VAX will let them stay with Digital when they need the power of a mainframe , instead of turning to IBM	I 'm convinced there 's a huge market for this machine , '' said Stephen Smith of PaineWebber Inc
+2	when its mainstay minicomputer line is under growing pressure from smaller personal computers and workstations that operate on standard operating systems rather than on the proprietary systems that older minicomputers use	Although Digital has staked out a major presence in the booming workstation market , profit margins in that market are much slimmer than for mainframes
+6	The slow-growing mainframe market also has shown new signs of life lately	IBM 's mainframe sales have held up better than expected this year , with analysts estimating they have risen 10 % to 12 %
+6	Demand for these systems has been very , very strong	We have a good strong backlog for the fourth quarter even without '' the systems that were announced yesterday
+2	it wanted to bring out the mainframes as soon as it could to spark as many sales as possible by the end of the year	The fourth quarter is always IBM 's biggest by far , with most sales coming in December as customers seek to use budgets before year end
+2	it will have problems in the quarter , partly because of a delay in shipping a high-end disk drive and partly because the strong dollar will cut significantly the value of IBM 's overseas earnings when translated into dollars	IBM 's fourth-quarter per-share earnings will fall 10 % to $ 3.57 a share from $ 3.97 a share a year earlier
+2	In addition to the new mainframe hardware and software , IBM announced a magnetic-tape system for data storage that it said occupies half as much floor space as older systems but can store five times as much data on a single cartridge	That should help IBM address the damage that a resurgent Storage Technology Corp. has inflicted in that market
+1	Concord Camera Corp. completed the acquisition of Peter Bauser G.m.b.H. , a West German photographic products distributor	Terms were n't disclosed
+1	that a capital-gains cut should be part of the deficit-reduction bill	If that does n't happen , then we press forward on another vehicle and a separate vote
+6	On Capitol Hill , though , there does n't seem to be sufficient sentiment to pair capital gains and the deficit-reduction bill	I do n't see how we have the votes '' to place a capital-gains tax cut there
+8	Meanwhile , President Bush stepped up his personal lobbying for the capital-gains tax cut	he plans to hold a series of private White House meetings , mostly with Senate Democrats , to try to persuade lawmakers to fall in line behind the tax cut
+2	used instead of mazes of wiring to interconnect other telecommunications equipment	This cuts down greatly on labor
+8	AT & T predicted strong growth in demand for such products	It noted that last July , Nippon Telegraph & Telephone Corp. of Japan selected AT & T to supply $ 154 million of such equipment over a four-year period starting next year
+2	which has been so lucrative in the past	Much of this work was done for higher fees than other legal work
+1	Much of this work was done for higher fees than other legal work and was not generally billed by the hour	If deals take longer to complete and there are fewer of them to do , `` you ca n't bill the same kind of premium as when deals took a few weeks from start to finish
+2	but next year we 'll be another story	We 're settling down to a less active period
+5	they , too , have experienced a significant slowdown , particularly during the past few weeks	Everyone is waiting to see if deals can be done at sensible prices and if money is available
+1	Everyone is waiting to see if deals can be done at sensible prices and if money is available	It 's hard to know right now if the change is fundamental or cyclical
+6	Some lawyers say the slump , while more obvious in recent weeks , began earlier this year	Dennis Block , a partner at the New York firm of Weil , Gotshal & Manges , said that in the first eight months of this year , 89 hostile offers were launched , compared with 157 for the first eight months of
+6	Still , some lawyers say the mergers slowdown has n't affected foreign buyers as much as domestic ones	We just took another floor for our London offices , '' said Joseph Flom of the New York firm of Skadden , Arps , Slate , Meagher & Flom
+2	its international clients are keeping mergers and acquisitions partners busy	European companies are looking to buy American ones
+1	in what was an effort to get Mr. Lorin to implicate Mr. Laff	that Mr. Lorin was the `` real master criminal '' behind the stock manipulation , and that Mr. Laff knew nothing about it
+8	In March , Mr. Laff was indicted on 15 counts of conspiracy , mail and securities fraud , and obstructing an investigation by the Securities and Exchange Commission	The government has charged that Mr. Lorin and Mr. Laff were part of a conspiracy to maintain the prices of certain stocks at artificially high prices
+5	From the parts of the transcript read by Mr. Lang , it was unclear what exactly Mr. Lorin feared might happen	When asked for a copy of the transcript , Mr. Lang said Judge Thomas P. Griesa had instructed him not to release it or the memorandum
+9	During the trial , Mr. Lang asked Mr. Lorin whether he had been so upset `` that you considered killing Mr. Laff ? . . . Is n't it true that you were so worked up that framing Mr. Laff for this crime was the least that you planned for him ?	Mr. Lorin responded , `` No
+9	Mr. Lorin responded , `` No	When Mr. Lang asked Mr. Lorin whether he had taken steps to have Mr. Laff killed , the witness again said no
+6	three partners have joined its business and finance department	John Ake , 48 , a former vice-president in charge of legal compliance at American Capital Management & Research Inc. , in Houston , will join Ballard Spahr 's corporate-securities practice
+7	John Ake , 48 , a former vice-president in charge of legal compliance at American Capital Management & Research Inc. , in Houston , will join Ballard Spahr 's corporate-securities practice	Kent Walker , 45 , a former partner at the Philadelphia law firm of Mesirov , Gelman , Jaffe , Cramer & Jamieson , will specialize in antitrust , real estate and mergers and acquisitions
+7	John Ake , 48 , a former vice-president in charge of legal compliance at American Capital Management & Research Inc. , in Houston , will join Ballard Spahr 's corporate-securities practice.Kent Walker , 45 , a former partner at the Philadelphia law firm of Mesirov , Gelman , Jaffe , Cramer & Jamieson , will specialize in antitrust , real estate and mergers and acquisitions	Richard L. Sherman , 42 , will advise midsized businesses
+0	Robert S. Ehrlich resigned as chairman , president and chief executive	Mr. Ehrlich will continue as a director and a consultant
+5	Mr. Ehrlich was succeeded as chairman by Gerd Krick , a director of Fresenius , a West German pharmaceutical concern	Ben Lipps , president of Fresenius USA , was named president , chief executive and chief operating officer
+5	Fresenius owns about 42 % of Delmed 's fully diluted common stock	The two companies have been discussing a transaction under which Fresenius would buy Delmed stock for cash to bring its beneficial ownership to between 70 % and 80 % of Delmed 's fully diluted common stock
+0	it `` continues to explore the possibility of a combination with Fresenius USA	that it is apparent that any terms of a combination `` would be substantially less favorable than those previously announced
+5	Kennametal is a carbide-products and cutting-tools company	J & L , whose principal offices are in Detroit , is a mail-order distributer of industrial tools and supplies
+5	Revenue rose 23 % to $ 100 million from $ 81.6 million	Net product sales accounted for $ 76 million , up from $ 57.5 million a year earlier
+2	cooling investors	Genentech stock fell 12.5 cents in trading yesterday on the New York Stock Exchange to $ 20.125
+1	In the nine months , net income slid 21 % to $ 28.4 million , or 33 cents a share , from $ 36 million , or 42 cents a share	Revenues climbed 18 % to $ 289 million from $ 245.3 million
+1	TPA sales are down quarter to quarter	Expenses are flat
+5	Expenses are flat	There 's contract revenue from { limited research and development } partnerships
+5	Genentech faces competition in the cardiac-drug market from SmithKline Beecham PLC 's heart drug Eminase , expected to receive market approval shortly.And Genentech is n't likely to have any new products ready for market until at least 1992	The company 's stock is trading at 40 times next year 's numbers , and that 's too much
+1	THE AMERICAN CANCER SOCIETY 'S 1988 costs of fund raising and administration were $ 72.4 million , or 23.2 % of its revenue	A chart in last Friday 's special report on personal finance contained an incorrect figure supplied by NonProfit Times , a monthly newspaper covering charities
+5	The previous year 's third quarter included gains on the sale of aircraft by the company 's Aviation Leasing & Services Division	Revenue was flat at $ 1.3 billion
+8	they were n't surprised that problems in many of Ryder 's lines of business continued to plague the company	It pretty much confirms what we had been expecting
+2	they were n't surprised that problems in many of Ryder 's lines of business continued to plague the company	It pretty much confirms what we had been expecting
+5	But we 're still at the beginning stages of some of these changes	the fourth quarter will be `` challenging
+1	In the nine months , net income fell 79 % to $ 31.1 million , or 33 cents a share , from $ 149.3 million , or $ 1.82 a share , a year earlier	Revenue rose slightly to $ 3.8 billion from $ 3.7 billion
+1	Robert L. Wood , 37-year-old chief financial officer , was named chairman and chief executive officer of this independent power producer , succeeding Raymond L. Hixson , 63	Mr. Hixson remains a director
+0	Maxicare , which filed for bankruptcy protection March 16 , has total debt of $ 750 million	The company has promptly paid all its expenses and obligations since March 16
+5	General unsecured creditors of Maxicare 's continuing operations initially will receive $ 47 million in cash , $ 35 million face amount of senior notes , and 49 % of the new company 's stock General unsecured creditors of Maxicare 's discontinued operations initially will receive $ 17.8 million in cash and $ 10 million in senior notes	Maxicare 's public shareholders will receive 2 % of the new company 's stock and warrants entitling them to acquire as much as an additional 5 % of the stock on a fully-diluted basis
+1	The plan is subject to approval by the bankruptcy court and others	Maxicare hopes to complete the reorganization by early 1990
+5	Bids totaling $ 475 million were submitted	Accepted bids ranged from 8.328 % to 8.347 %
+5	Bids totaling $ 425 million were submitted	Accepted bids were all at 7.962 %
+5	ITT 's Hartford Insurance Group had a $ 53 million quarterly pretax loss from Hurricane Hugo	Hartford expects to report a further pretax loss of about $ 30 million for the current quarter , as a result of the California earthquake this month
+2	its consumer finance unit agreed in September to settle a civil suit with the California attorney general over alleged improper lending and sales practices	the company recorded a pretax charge of $ 24 million during the fourth quarter of 1988
+0	the company recorded a pretax charge of $ 24 million during the fourth quarter of 1988	the charge was n't publicly reported at the time
+1	but a 0.2 % rise by the consumer price index would put growth at either 178.8 or 178.9 , up 3.3 % or 3.4 % from the year-earlier level of 173.1	The index was 178.5 in August
+0	Conspicuous by its absence is California	San Jose and several other California cities mounted major campaigns during the summer to woo the group
+1	U.S. Memories investors include Advanced Micro Devices Inc. , Digital Equipment Corp. , Hewlett-Packard Co. , International Business Machines Corp. , Intel Corp. , LSI Logic Corp. , and National Semiconductor Corp	he expects several other companies to join some time after the venture completes a business plan , probably later this week
+2	Fred D. Thompson , a 47-year-old attorney in private practice in Washington and Nashville , Tenn. , was elected to the board of this engineering and construction company	The board increased to 11 seats
+5	The HyperCard program allows users to design applications for Macintosh computers without having to be hardcore programmers and is distributed with every Macintosh sold	It 's one of the most popular computer programs of all time
+2	that it believes the case has no merit , and that HyperCard does not infringe `` any valid claims '' of the Quickview patents	it filed an action of its own in federal court in San Jose , Calif. , seeking a declaration that Quickview 's claims are invalid
+8	he points the gun in the wrong direction	It is n't the Americans who must be criticized for not understanding the Japanese culture , but the Japanese who insist on forcing their culture on Americans
+2	It is n't the Americans who must be criticized for not understanding the Japanese culture , but the Japanese who insist on forcing their culture on Americans	The Japanese want us to accept their culture , but they refuse to accept the American culture
+2	Americans are expected to conform to the Japanese culture when in Japan	What is wrong with expecting the Japanese to conform to American norms when they locate here
+5	Americans place native or native speakers in charge of subsidiaries overseas	European multinationals do likewise ; even in America , their affiliates are usually run by American managers
+5	Americans place native or native speakers in charge of subsidiaries overseas.European multinationals do likewise	even in America , their affiliates are usually run by American managers
+2	But the Japanese insist upon Japanese managers everywhere they set up shop	Do the Japanese feel so superior that they can not find capable American managers
+1	Mr. Kageyama suggests that Kotobuki Electronics Industries workers were having difficulty understanding their foreign bosses ' perspective	I question his perspective
+2	Thus the conclusion is that the burden rests with management to understand/adopt the culture and philosophy of the country in which they are operating	The workers can be motivated , and the company reach its full potential , only when management embraces the employees ' perspective
+5	A manager should not have to rebut the opinions of his employees about the style of his management.Instead , he should listen to see how that criticism can be used constructively to advance his objective of carrying out a set of tasks through the efforts of his subordinates	Japanese culture vs.American culture is irrelevant
+4	Japanese culture vs.American culture is irrelevant	The key is how a manager from one culture can motivate employees from another
+5	For Mr. Kageyama to argue that American employees must passively accept a direct imposition of the Japanese way of doing things is outright cultural chauvinism of the first order	The Japanese are neglecting the opportunity to synthesize a new corporate culture based on a fusion of the best aspects of both national cultures
+1	Mr. Kageyama is accurate to deny a specific anti-American bias	It is more difficult to deny a general bigotry in seeing things only the Japanese way
+2	It is more difficult to deny a general bigotry in seeing things only the Japanese way	When the response to criticism is only a better explanation of policies without altering the reasons for the criticism that Mr. Kageyama has still failed to attack the root cause of the problem and is simply treating symptoms
+5	consolidated net profit after payments to minority interests rose to 749 million francs ( US $ 119.2 million ) from 575 million francs in the first half of 1988	Revenue climbed 13 % to 45.4 billion francs from 40.1 billion
+8	As a presidential candidate in 1980 , George Bush forthrightly expressed his position on abortion in an interview with Rolling Stone magazine published that March	What did he think of the Supreme Court 's decision legalizing abortion ? `` I happen to think it was right , '' Mr. Bush said flatly
+9	A few months later , Mr. Bush became Ronald Reagan 's running mate	Suddenly , George Bush the pro-choice advocate became George Bush the anti-abortionist
+8	But only four days after that , Mr. Bush resurrected the veto threat	I do not support federal funding for abortions except where the mother 's life is threatened , '' he proclaimed
+6	Anti-abortion forces regard him as at best an uncertain ally	In all honesty if you ask me , ` Is this man a true believer ? ' I do n't know , '' says John Fowler , head of the Washington-based Ad Hoc Committee in Defense of Life Inc
+6	Yet abortion-rights forces remain bitterly critical	Douglas Gould , vice president of communications for the Planned Parenthood Federation of America , calls Mr. Bush 's position on the abortion-funding issue `` extremely cruel
+4	The guy has n't done one thing about prevention	He 's totally geared to a punitive position
+2	Mr. Bush is plainly uncomfortable with the entire abortion question	For most of the past nine years , he has striven to convince anti-abortion activists of his stalwart support for their position
+1	Many Americans still agonize over their own personal feelings about abortion	Mr. Bush 's problem is n't so much that he seems to be agonizing over the issue as it is that he seems to vacillate on it
+1	as it is that he seems to vacillate on it	The political risk would be far less if the president drew a firm line and hewed to it
+2	The political risk would be far less if the president drew a firm line and hewed to it	If you have a position , you 're better off to stick with it than to move around very much
+8	If you have a position , you 're better off to stick with it than to move around very much	The need for consistency is especially acute for Mr. Bush , who lacks a strong ideological base
+1	By his moderate Republican heritage as well as the warnings of political advisers who say the issue is vital to younger voters , the president might seem to have at least some sympathy with abortion-rights arguments.Yet he is also firmly bound by his hard-line rhetoric and promises he made to anti-abortion activists during his long pursuit of the White House	On many issues -- flag-burning , for instance -- his keen political sensitivities overcome such conflicts
+6	These days , when others raise the subject of abortion , the usually loquacious president can be close-mouthed almost to the point of curtness	Ten days ago he was asked to amplify the reasons behind his anti-abortion stance . `` My position is well-known and well-stated , '' he replied
+9	Ten days ago he was asked to amplify the reasons behind his anti-abortion stance	My position is well-known and well-stated , '' he replied
+6	In his Rolling Stone interview in 1980 , Mr. Bush volunteered his abortion-rights remarks to contrast himself with his rival , Ronald Reagan	In addition to supporting the landmark Roe vs.Wade Supreme Court decision legalizing abortion , Mr. Bush said he opposed the constitutional ban on abortion that Mr. Reagan was promising to promote
+5	As Mr. Reagan 's running mate , though , Mr. Bush plunged headlong into the anti-abortion position , endorsing a constitutional amendment outlawing abortion	He acknowledged only one difference with Mr. Reagan -- that the amendment ought to have exceptions for rape and incest as well as to save a woman 's life
+5	In 1974 , as the U.S. representative to the United Nations , he wrote an introduction to a book on world population in which he boasted of his leadership during his term in Congress in expanding family-planning services for the poor.Running for president in early 1980 , he was also quoted as supporting federal funding for abortions in cases of rape , incest and to save the life of the mother In his Rolling Stone interview in 1980 , Mr. Bush volunteered his abortion-rights remarks to contrast himself with his rival , Ronald Reagan As Mr. Reagan 's running mate , though , Mr. Bush plunged headlong into the anti-abortion position , endorsing a constitutional amendment outlawing abortion Throughout the early 1980s , Mr. Bush was quoted sometimes supporting federal funding for abortion in cases of rape and incest and sometimes opposing it	In April 1986 , then-Vice President Bush had his staff write a letter spelling out that he would support a constitutional amendment banning abortions except in cases of rape , incest and life endangerment , but that he opposed federal funding in all but the latter case
+9	In 1974 , as the U.S. representative to the United Nations , he wrote an introduction to a book on world population in which he boasted of his leadership during his term in Congress in expanding family-planning services for the poor.Running for president in early 1980 , he was also quoted as supporting federal funding for abortions in cases of rape , incest and to save the life of the mother In his Rolling Stone interview in 1980 , Mr. Bush volunteered his abortion-rights remarks to contrast himself with his rival , Ronald Reagan As Mr. Reagan 's running mate , though , Mr. Bush plunged headlong into the anti-abortion position , endorsing a constitutional amendment outlawing abortion Throughout the early 1980s , Mr. Bush was quoted sometimes supporting federal funding for abortion in cases of rape and incest and sometimes opposing it	In April 1986 , then-Vice President Bush had his staff write a letter spelling out that he would support a constitutional amendment banning abortions except in cases of rape , incest and life endangerment , but that he opposed federal funding in all but the latter case
+5	In 1974 , as the U.S. representative to the United Nations , he wrote an introduction to a book on world population in which he boasted of his leadership during his term in Congress in expanding family-planning services for the poor.Running for president in early 1980 , he was also quoted as supporting federal funding for abortions in cases of rape , incest and to save the life of the mother In his Rolling Stone interview in 1980 , Mr. Bush volunteered his abortion-rights remarks to contrast himself with his rival , Ronald Reagan As Mr. Reagan 's running mate , though , Mr. Bush plunged headlong into the anti-abortion position , endorsing a constitutional amendment outlawing abortion Throughout the early 1980s , Mr. Bush was quoted sometimes supporting federal funding for abortion in cases of rape and incest and sometimes opposing it.In April 1986 , then-Vice President Bush had his staff write a letter spelling out that he would support a constitutional amendment banning abortions except in cases of rape , incest and life endangerment , but that he opposed federal funding in all but the latter case	At the GOP convention last year , he again came out for an amendment with exceptions for rape , incest and life endangerment
+9	In 1974 , as the U.S. representative to the United Nations , he wrote an introduction to a book on world population in which he boasted of his leadership during his term in Congress in expanding family-planning services for the poor.Running for president in early 1980 , he was also quoted as supporting federal funding for abortions in cases of rape , incest and to save the life of the mother In his Rolling Stone interview in 1980 , Mr. Bush volunteered his abortion-rights remarks to contrast himself with his rival , Ronald Reagan As Mr. Reagan 's running mate , though , Mr. Bush plunged headlong into the anti-abortion position , endorsing a constitutional amendment outlawing abortion Throughout the early 1980s , Mr. Bush was quoted sometimes supporting federal funding for abortion in cases of rape and incest and sometimes opposing it.In April 1986 , then-Vice President Bush had his staff write a letter spelling out that he would support a constitutional amendment banning abortions except in cases of rape , incest and life endangerment , but that he opposed federal funding in all but the latter case	At the GOP convention last year , he again came out for an amendment with exceptions for rape , incest and life endangerment
+5	affirming his `` firm support of our cause '' during an anti-abortion rally three days after his inauguration last January	He again urged passage of a constitutional amendment outlawing abortion
+8	the president began to lower the volume	When the ruling was handed down , the vacationing president dispatched Chief of Staff John Sununu to issue a statement and refused to answer questions himself
+5	But in the months since then he has shied away from talking about abortion	What few comments he has initiated have been oblique
+1	which anti-abortion forces had regarded as a key test of their ability to get state lawmakers to toughen abortion restrictions	The session failed to enact any new curbs
+6	Now , some see Mr. Bush trapped in a position he is neither comfortable with nor able to escape	Ken Ruberg , head of the Republican Mainstream Committee , a group of party moderates , observes : `` The administration finds itself in an ideological cul de sac that it will find it difficult -- if not impossible -- to get itself out of
+2	Christopher Cox 's Oct. 13 editorial-page article `` Toward More Crippling Lawsuits . . . '' misses the point	The 1989 Americans With Disabilities Act is about eliminating discriminatory barriers
+6	it is clear that our constitutionally mandated civil rights have evolved not through the goodness of people 's hearts but through legislation and constitutional amendments	This is how American women won the right to vote
+8	For the more than 43 million Americans with disabilities , the 1989 Americans With Disabilities Act provides the missing piece	Disabled Americans have had their civil rights guaranteed in all federally funded programs since Section 504 was passed as a part of the 1973 Rehabilitation Act.The 1989 act simply extends these guarantees to the private sector
+5	Disabled Americans have had their civil rights guaranteed in all federally funded programs since Section 504 was passed as a part of the 1973 Rehabilitation Act	The 1989 act simply extends these guarantees to the private sector
+2	The 1989 act simply extends these guarantees to the private sector	Those who fear a plethora of suits paralyzing our legal system need only look at the record on the Rehabilitation Act
+8	Those who fear a plethora of suits paralyzing our legal system need only look at the record on the Rehabilitation Act	Without legal recourse , there are no guarantees of civil rights for anyone
+6	Analysts had mixed responses to the results	Donald DeScenza , an independent analyst in New Canaan , Conn. , said he was `` impressed with the company 's performance However , Harry Millis , an analyst at McDonald & Co. , Cleveland , said Goodyear 's results `` fell at the bottom '' of his range of estimates
+8	Donald DeScenza , an independent analyst in New Canaan , Conn. , said he was `` impressed with the company 's performance	He said results were better than he 'd expected and indicate that Goodyear is in the midst of a turnaround from a string of lackluster quarters that have plagued the company for a year
+8	Goodyear 's results `` fell at the bottom '' of his range of estimates	Excluding an increase in the tax rate and the effects of foreign currency translations the company 's results `` were still a little disappointing
+5	total U.S. tire unit sales were off about 2 %	Total tire segment sales were up only about 1 % to $ 2.2 billion
+8	steel profits were close to a cyclical peak	Though imports were troublesome , they were n't running away with the market
+5	Though imports were troublesome , they were n't running away with the market , and American companies had high hopes that steel import quotas would be extended for another five years	Perhaps most important , Carl Icahn was subdued
+5	Perhaps most important , Carl Icahn , who had once threatened a hostile takeover bid , was subdued	He and Mr. Roderick were even dining out together
+6	whose fortunes have changed abruptly	Mr. Icahn , the company 's deep-pocketed , tenacious adversary , recently disclosed that he had raised his USX stake to 13.1 % , and he again threatened a takeover
+5	In addition , USX 's giant steel segment is facing softening demand and slipping prices as well as increasing competition from foreign steelmakers and low-cost minimills demand and slipping	The import quotas got only a 2 1/2-year extension
+2	Mr. Icahn , the company 's deep-pocketed , tenacious adversary , recently disclosed that he had raised his USX stake to 13.1 % , and he again threatened a takeover.A battle with Mr. Icahn would rattle even the most seasoned chief executive , to say nothing of one who took the helm less than five months ago In addition , USX 's giant steel segment , representing 34 % of its 1988 sales , is facing softening demand and slipping prices as well as increasing competition from foreign steelmakers and low-cost minimills.The import quotas got only a 2 1/2-year extension , and USX is laboring under a staggering $ 5.8 billion debt at a time when it must spend money to upgrade steel mills and drill for oil	It 's a baptism of fire for Corry
+6	without being pushed into unwelcome moves	Mr. Corry might have to dismember the company more than he wants to
+8	In 1986 , Mr. Roderick adroitly dodged Mr. Icahn 's first bullet after the takeover specialist had built up an 11.4 % stake	Mr. Roderick did so by having USX redeem a series of guaranteed notes , a move that , in effect , raised the cost of a $ 7.19 billion Icahn bid by about $ 3 billion
+8	and even strike up an unlikely friendship with the interloper	Over dinners at New York 's Sky Club and Links Club restaurants , the steel executive and the big investor talked steel , international trade and thoroughbred horses
+2	Mr. Corry had hoped the detente would continue	He was shocked to learn of Mr. Icahn 's new takeover threat
+8	But the fiercely competitive Mr. Corry quickly showed he 's no pushover	He huddled with directors at a special meeting two weeks ago and tried to block his opponent
+8	Now , it 's Mr. Icahn 's move	Will he try to gain a seat on or control of the board and force a radical split of USX into separate oil and steel companies
+5	Will he try to gain a seat on or control of the board and force a radical split of USX into separate oil and steel companies	Given the weakness of the junk-bond market , can he finance a buy-out
+1	Given the weakness of the junk-bond market , can he finance a buy-out	Mr. Icahn may not want to sell out unless he can get a special dividend similar to one he received before selling his stake in Texaco Inc. in June -- a coup that gave him enough cash to make his USX move
+5	it does n't end the takeover threat	I know it 's not over , '' a sober-faced Mr. Corry acknowledged
+8	In fact , it 's barely begun for Mr. Corry , who faces tough decisions before he has had a chance to get settled into his new job	He 's in a vulnerable position because he has n't established much credibility on his own
+4	The 57-year-old tax attorney never even aspired to the job of chief executive	An undistinguished college student who dabbled in zoology until he concluded that he could n't stand cutting up frogs , Mr. Corry wanted to work for a big company `` that could do big things
+9	But after joining the tax department of a USX subsidiary 30 years ago , he set the modest goal of becoming tax manager by the age of 46	For years , he quietly stuck to the back accounting rooms
+8	wearing a hat to work because everyone else did	I was never a rebel
+5	I was never a rebel	I do n't think most of the people that have been around me would ever say they 've seen me pound the table or get angry
+6	Yet , the unassuming Mr. Corry helped chart USX 's transition from Big Steel to Big Oil	He served as Mr. Roderick 's front man in tense negotiations for the 1982 purchase of Marathon Oil for $ 5.9 billion
+6	Nevertheless , Mr. Corry , once named chief executive , did n't waste any time distancing himself from his former boss	Soon after taking over last June , Mr. Corry rescinded a pay cut imposed on clerical workers , a move that Mr. Roderick had n't made in spite of improved earnings
+1	that Mr. Corry would agree if he could find a buyer at the right price	The problem is that Mr. Icahn is pushing him to move faster and further in restructuring USX than Mr. Corry had planned
+2	in restructuring USX	Mr. Icahn has long believed that the company , whose 1988 sales totaled $ 16.88 billion , is worth $ 70 a share if broken up
+2	and Mr. Corry does n't necessarily disagree	Unlike his predecessor , who saw steel as America 's backbone , Mr. Corry tends to view it as a capital-draining and labor-intensive business with limited potential
+2	as a capital-draining and labor-intensive business with limited potential	In the past five years , USX has turned steel into a profit maker by closing several plants and reducing labor costs.But the short-term outlook is so-so
+2	It is n't surprising that Messrs.Roderick and Corry view steel so differently	While Mr. Roderick was reared in the shadows of Pittsburgh 's smoking mills , Mr. Corry grew up in Cincinnati , a city nicknamed `` Porkapolis '' and more accustomed to pork chops than pig iron
+5	While Mr. Roderick was reared in the shadows of Pittsburgh 's smoking mills , Mr. Corry grew up in Cincinnati , a city nicknamed `` Porkapolis '' and more accustomed to pork chops than pig iron	He has never met Lynn Williams , the president of the United Steelworkers union
+8	Having two major products would lessen the company 's vulnerability to one market 's down cycle and help smooth out the flow of cash and earnings	We 're a two-product company and , boy , if you ca n't figure out the value of those two parts , you are so damn dumb that you do n't belong on Wall Street
+8	Moreover , the opportunity to sell steel at a price acceptable to USX may be gone , for now	The time has passed for us to spin off steel , '' either in a public offering or to a buyer , one executive contends
+5	The time has passed for us to spin off steel , '' either in a public offering or to a buyer	About the only way that USX now can get out of steel is to dish it out , piece by piece , in separate joint ventures
+6	However , even USX executives who work closely with him are n't sure about his long-term goals	I do n't think he has a clear sense of where he wants the company to go , '' one says
+1	he has a clear sense of where he wants the company to go	Right now he wants to continue to focus on paying down '' USX 's debt by selling assets
+8	When negotiating , Mr. Corry played his cards close to the vest	how his boss would routinely ask a subordinate to research an entire industry to target acquisition candidates . `` What he really wanted to know was about a particular company , but you did n't know that.He wanted your own unbiased , virgin opinion
+8	how his boss would routinely ask a subordinate to research an entire industry to target acquisition candidates	What he really wanted to know was about a particular company , but you did n't know that
+2	but you did n't know that	He wanted your own unbiased , virgin opinion
+6	It 's part of the capitalistic market system that equity can be bought and equity is bought	USX was formed 88 years ago , `` by in effect buying out a bunch of other companies
+8	USX was formed 88 years ago , `` by in effect buying out a bunch of other companies	People got rich through takeovers in those days , as they do today
+1	Israeli counterterrorism officials provided the State Department with a 20-page list of recent terrorist incidents they attribute directly to forces controlled by PLO Chairman Yasser Arafat	Mr. Arafat publicly renounced terrorism Dec. 15
+5	experts are studying the Israeli list	We have no independent evidence linking Fatah to any acts of terrorism since Dec. 15 , 1988
+8	So far , this list does n't change our view	Israel wants to end the dialogue , but our analysts take a different view than theirs
+5	that the Israeli government had provided its correspondent in Jerusalem with different documents that Israel said prove the PLO has been conducting terrorism from the occupied Arab territories	it has n't yet seen copies of those papers
+10	that the Israeli government had provided its correspondent in Jerusalem with different documents that Israel said prove the PLO has been conducting terrorism from the occupied Arab territories	it has n't yet seen copies of those papers
+5	Israel has long claimed Mr. Arafat never meant to renounce terrorism	Now it is backing up its contention with detailed accounts of alleged terrorist acts and plans linked to Mr. Arafat
+8	it is backing up its contention with detailed accounts of alleged terrorist acts and plans linked to Mr. Arafat	It blames most of these on Fatah
+8	to bring about talks between Israel and Palestinian representatives	The State Department said it had received a new letter on the subject from Israeli Foreign Minister Moshe Arens
+6	Deciding what constitutes `` terrorism '' can be a legalistic exercise	The U.S. defines it as `` premediated , politically motivated violence perpetrated against noncombatant targets by subnational groups or clandestine state agents
+2	The U.S. defines it as `` premediated , politically motivated violence perpetrated against noncombatant targets by subnational groups or clandestine state agents	To meet the U.S. criteria it only listed incidents that involved civilians and occurred inside its pre-1967 borders
+2	they are highly uncertain about the veracity of the separate documents leaked to the New York Times	The papers refer to terrorist acts to be carried out in the name of a group called `` the Revolutionary Eagles
+2	UAL 's decision to remain an independent company sent share prices tumbling	By midmorning , the DJIA had plunged 80 points
+8	that the market 's strong reaction to Wall Street reflects a general uneasiness about the dollar	that the DJIA 's swift drop proved an easy excuse for the market to drive the U.S. currency in the direction it was already headed
+5	In late New York trading yesterday , the dollar was quoted at 1.8355 marks , down from 1.8470 marks Monday , and at 141.45 yen , down from 141.90 yen late Monday	Sterling was quoted at $ 1.6055 , up from $ 1.6030 late Monday
+5	Meanwhile , sterling slumped on news that the United Kingdom posted a wider-than-expected trade deficit in September	The news also knocked the British unit to below 2.95 marks in London
+5	On the Commodity Exchange in New York , gold for current delivery jumped $ 3.20 to $ 370.20 an ounce	The close was the highest since Aug. 15
+5	The close was the highest since Aug. 15	Estimated volume was a light two million ounces
+2	Boston Safe Deposit 's performance has been hurt this year by a mismatch in the maturities of its assets and liabilities	The mismatch exposed the company to a high degree of interest-rate risk , and when rates moved unfavorably -- beginning late last year and continuing into this year -- `` it cost them
+2	that Boston Safe Deposit `` has taken some actions to better control asset-liability management and improve controls in general	As some securities mature and the proceeds are reinvested , the problems ought to ease
+5	But he also cited concerns over the company 's mortgage exposure in the troubled New England real estate market	Boston Co. officials declined to comment on Moody 's action or on the unit 's financial performance this year
+8	The resulting scandal led to the firing of James N. von Germeten as Boston Co. 's president and to the resignations of the company 's chief financial officer and treasurer	The executives were accused of improperly deferring expenses and booking revenue early , in an effort to dress up results -- and perhaps bolster performance-related bonuses
+2	the problems in the securities portfolio stem largely from positions taken last year	The company 's current management found itself `` locked into this
+8	But the news was even worse for Sears 's core U.S. retailing operation , the largest in the nation	its U.S. stores had a loss of $ 6.9 million , their first deficit for the period in more than five years
+8	the `` everyday low pricing '' strategy that it adopted in March as part of a broad attempt to revive its retailing business	Under the new approach , Sears set prices that were somewhere between its old `` regular '' and `` sale '' prices
+5	Under the new approach , Sears set prices that were somewhere between its old `` regular '' and `` sale '' prices	it would resort far less often to slashing prices to woo shoppers
+5	The new pricing strategy `` is working	after an initial surge triggered by an advertising blitz in March , Sears expected that the pricing program would n't have any effect on revenue
+1	that the pricing program would n't have any effect on revenue	growth coming from the large displays of brand-name merchandise it is adding to its stores over the next two years in what it calls `` power formats
+2	Sears faces an especially daunting challenge on the eve of the Christmas shopping season	everyday pricing in the current environment does n't work
+8	Sears faces an especially daunting challenge on the eve of the Christmas shopping season	everyday pricing in the current environment does n't work
+2	everyday pricing in the current environment does n't work	Sears is likely to be unsuccessful if it continues with its pricing policy when everyone else is offering unusual values
+6	In what amounts to an admission that the transition has n't gone as smoothly as Sears had hoped , the giant retailer is now trying new ways to drum up business without appearing to abandon its seven-month-old strategy	The company is highlighting more special deals in its advertising and stores , and it 's offering to defer finance charges on certain big-ticket items
+1	In a new TV ad , for instance , a woman going through the Sunday newspaper brands as hype claims by other stores that they are offering goods for `` 50 % , 60 % and 70 % off	By lowering prices throughout its stores Sears has the right idea
+8	But the ad also mentions Sears 's sales	When Sears has a sale at a special price , '' the woman in the ad declares , `` it 's something you do n't want to miss
+5	that Sears is having a tough time attracting shoppers because it has n't yet done enough to improve service or its selection of merchandise	The number of people who said they were more likely to shop at Sears fell in September to 37 % from 66 % in March , when Sears blanketed the airwaves with ads about its new pricing strategy
+5	Moreover , the number of people who spontaneously cited lower prices as the reason for their interest in Sears declined to 16 % in September from 33 % in March	Just 5 % of the respondents mentioned brands in September , up slightly from 2 % in March
+5	Moreover , the number of people who spontaneously cited lower prices as the reason for their interest in Sears declined to 16 % in September from 33 % in March.Just 5 % of the respondents mentioned brands in September , up slightly from 2 % in March	Only 2 % of the people in September cited Sears 's `` friendly personnel
+1	The power of price as an appeal , which was very considerable in driving traffic in March and April , has diminished	You see some improvement in these other areas , but it 's a very small and slow process
+5	Profit at Sears 's Allstate insurance unit fell 38 % to $ 126.1 million because of Hurricane Hugo	claims from the storm , as expected , reduced its third-quarter net by $ 80 million , or 23 cents a share
+5	Net income at Sears 's Dean Witter Financials Services group , meanwhile , rose nearly 32 % to $ 35.7 million	Profit at Sears 's Coldwell Banker Real Estate Group nearly quadrupled to $ 81.2 million because of gains on sales of property
+8	In Houston , we have seen how bad the housing problem can become	Unused houses deteriorate rapidly , affecting the value of nearby homes ; in a domino effect , the entire neighborhood can fall victim.At this stage some people just `` walk away '' from homes where the mortgage exceeds current market value
+9	Unused houses deteriorate rapidly , affecting the value of nearby homes	in a domino effect , the entire neighborhood can fall victim
+2	The problem is so vast that we need to try innovative solutions -- in small-scale experiments	Here are some ideas
+2	Develop rental agreements with exclusive purchase options for the renter	An occupant will , in most every case , be better for the home and neighborhood than a vacant house
+5	An occupant will , in most every case , be better for the home and neighborhood than a vacant house	In this way , the house is not dumped on to a glutted market
+2	An occupant will , in most every case , be better for the home and neighborhood than a vacant house	In this way , the house is not dumped on to a glutted market
+8	The unemployment rate was by far the highest in the southern , so-called Mezzogiorno region	The southern unemployment rate rose to 21.3 % in July from 21.2 % in April and from 20.6 % a year earlier
+5	Quarter net for the business-machines and financial-services company rose to $ 155 million , or $ 1.41 a share , from $ 146 million , or $ 1.37 a share , in the year-earlier period	Revenue rose to $ 4.45 billion from $ 4.15 billion
+1	Sales of Xerox copiers and other office products grew 1.6 %	we expected growth of 6 % to 7 %
+5	we expected growth of 6 % to 7 %	Operating-profit margins slipped almost 18 % , to 4.3 % of sales
+2	Still , with competitors such as Eastman Kodak Co. faltering in copier sales , Xerox 's sales increases `` were encouraging	They are holding their own in a weak market , and the restructuring is working
+5	For the nine months , Xerox earned $ 492 million , or $ 4.55 a share , up 5.8 % from $ 465 million , or $ 4.32 a share	Revenue rose 7.6 % to $ 12.97 billion from $ 12.05 billion
+8	But many economists pointed to a 1.8 % September rise in orders outside the volatile transportation category	That `` suggests the manufacturing sector is not falling apart
+8	an enormous jump in orders for heavy military equipment propped it up	Orders for capital defense goods skyrocketed 56 %
+2	Orders for military goods usually catapult in September as the Pentagon scrambles to spend its money before the new fiscal year begins Oct. 1	While all the numbers in the durable goods report were adjusted for seasonal fluctuations that the adjustment probably did n't factor out all of the wide-ranging surge in defense orders
+8	the backlog of orders at factories is slipping	Unfilled orders for durable goods rose 0.4 % in September , to $ 476.14 billion , after declining for the first time in 2 1/2 years in August
+1	Unfilled orders for durable goods rose 0.4 % in September , to $ 476.14 billion , after declining for the first time in 2 1/2 years in August	In July unfilled orders grew 1 %
+5	It means we 're eating into the bread that keeps us going	That is a little disturbing
+5	Capital goods orders outside of the defense sector tumbled for the second month in a row , posting a 5.6 % drop after a 10.3 % decline	Such steep drops in a category seen as a barometer of business investment would customarily be grave news for the economy
+1	If you look back a half-year or so the evidence was pretty good of affirmative strength in the capital-goods sector	Now at least there are question marks about that , and without any question the pace of growth has slowed
+2	and investors applauded the move	In composite trading on the New York Stock Exchange , Norfolk Southern shares closed at $ 37.875 , up $ 1.125
+6	Still , analysts do n't expect the buy-back to significantly affect per-share earnings in the short term	The impact wo n't be that great , '' said Graeme Lidgerwood of First Boston Corp
+2	Moreover , the extensive program in effect establishes a floor for the stock price	The buy-back `` is really a comfort to those who want to buy the stock that there is a { price } floor
+2	The buy-back `` is really a comfort to those who want to buy the stock that there is a { price } floor	At a certain price , if the management thinks { the stock } is cheap , they can go in and buy it
+9	Under the earlier plan , Norfolk was authorized in 1987 to buy up to 20 million shares	It has purchased about 19 million of them
+5	Currently , Falcon has about 750,000 cable-television subscribers around the nation	the company 's cable-television unit reported 1988 revenue of about $ 100 million
+8	Your Oct. 2 editorial `` Reding , Wrighting & Erithmatic '' on the recent `` education summit '' was like most pieces on the subject of education	It had little to say
+1	Oddly , though , on the very same page you printed a comment that addresses one of the most serious shortcomings of the American education system	Unfortunately , the comment was buried in another article , so it could not stand out in an education context
+8	Japanese children are raised in a way many Americans would find severe	After a wonderfully frivolous early childhood , they are exposed to rigid discipline as soon as they enter school
+2	that American children , on the whole , are among the most undisciplined in the world , making any attempt at improvements in the mode of education potentially unsuccessful	Unless parents and educators alike start to develop more discipline in children , all the worthy concern , discussions and actions will not solve the problem
+2	Retired Adm. William J. Crowe , former chairman of the Joint Chiefs of Staff , and Robert P. Luciano , chairman and chief executive officer of Schering-Plough Corp. , were elected directors of this securities firm	The board expanded to 17 seats
+2	These rate indications are n't directly comparable	lending practices vary widely by location
+1	Japan has climbed up from the ashes of World War II and a gross national product of about $ 800 per capita to reach the heavyweight class among industrialized nations	Now this remarkable economic growth seems to be coming to an end
+8	Until 1980 it was a model developing nation	The government built ports , bridges , highways , schools , hospitals and railways
+5	The government built ports , bridges , highways , schools , hospitals and railways	When industries were weak , it protected them
+5	The government built ports , bridges , highways , schools , hospitals and railways.When industries were weak , it protected them	It gave the Japanese people a value system , based on the rationalization that given the country 's lack of natural resources , they must work hard to create value through exports and buy food with the surplus
+8	That system has worked	The standard of living has increased steadily over the past 40 years
+5	The standard of living has increased steadily over the past 40 years	more than 90 % of the people consider themselves middle class
+6	The people have given their leading and only credible political party , the Liberal Democratic Party , clear and uninterrupted power for those 40 years	The LDP won by a landslide in the last election , in July 1986
+8	The symptoms all point to one thing	Japan does not have a modern government
+1	Japan does not have a modern government	Its government still wants to sit in the driver 's seat , set the speed , step on the gas , apply the brakes and steer , with 120 million people in the back seat
+1	Its government still wants to sit in the driver 's seat , set the speed , step on the gas , apply the brakes and steer , with 120 million people in the back seat	In a modern system , the government 's role is to give the people as much choice as possible and to keep them well informed so they are capable of making a choice
+6	The Japanese government does n't allow this	The Ministry of Agriculture and Fishery actually is a ministry for farmers and fishermen instead of a ministry of provisions
+7	The Ministry of Agriculture and Fishery actually is a ministry for farmers and fishermen instead of a ministry of provisions	The Ministry of Health and Welfare is a ministry of doctors and pharmaceutical companies rather than an organization dedicated to protecting the health of the people
+7	The Ministry of Health and Welfare is a ministry of doctors and pharmaceutical companies rather than an organization dedicated to protecting the health of the people	The Ministry of Education is nothing but a cartel for licensed teachers , and certainly does not act on behalf of students
+7	The Ministry of Education is nothing but a cartel for licensed teachers , and certainly does not act on behalf of students	The Ministry of Construction spreads concrete throughout the country and boasts in international conferences that Japan 's paved roadway per capita is the longest in the world , but they seldom think of the poor commuters who spend so much time sitting in traffic
+7	The Ministry of Construction spreads concrete throughout the country and boasts in international conferences that Japan 's paved roadway per capita is the longest in the world , but they seldom think of the poor commuters who spend so much time sitting in traffic	The Ministry of Transportation serves the industry , certainly not the passengers who must pay extraordinarily high prices
+1	And the Ministry of Foreign Affairs works for itself , supporting Japanese diplomats who sprinkle abundant aid money around the world to ensure that their seat at the dinner table is next to the host 's	This ministry has done nothing to correct the misunderstandings and misperceptions that are at the root of Japan 's deteriorating image
+8	All this illustrates that Japanese ministries still have a `` provider '' mentality	they do not serve the people , and particularly not consumers
+1	they do not serve the people , and particularly not consumers	They serve the industries and the special-interest groups
+5	The rest of the world accepted such methods when Japan was developing	Japanese put up with it because the government provided job stability and growing paychecks
+1	Japan is not a political country	It is a bureaucratic country
+8	It is a bureaucratic country	The Diet plays a minor role compared with the powerful bureaucratic system
+5	The Diet plays a minor role compared with the powerful bureaucratic system	Most bills are drafted by bureaucrats , not politicians
+5	Most bills are drafted by bureaucrats , not politicians	The Diet does n't normally even debate bills because the opposition parties are so often opposed to whatever LDP does that it would be a waste of time
+5	So most bills are passed without full discussion	particularly difficult bills are passed in the absence of the opposition parties
+5	A recent example is the 3 % consumption tax on all commercial activities	This makes enormous sense in Japan , where direct tax accounts for more than 70 % of revenues and the capture rate of direct tax is so unfair
+6	This makes enormous sense in Japan , where direct tax accounts for more than 70 % of revenues and the capture rate of direct tax is so unfair	If you are a salaried man , Amen ! 100 % captured
+5	If you are a salaried man , Amen ! 100 % captured	If you are a retailer , 50 %
+2	If you are a salaried man , Amen ! 100 % captured.If you are a retailer , 50 % , and a farmer , 30 %	To correct this inequality , most people would have favored an indirect tax , like the consumption tax
+5	As a result , the Japanese people did n't know what to expect when the new law was introduced on April 1	They were frustrated by the longer queues at the cashier and the small coins given as change
+2	They were frustrated by the longer queues at the cashier and the small coins given as change	All of a sudden , prices were no longer in denominations of 100 or 200
+1	All of a sudden , prices were no longer in denominations of 100 or 200	They were 103 or 206
+2	They were 103 or 206	Pockets exploded with one-yen coins
+0	While people were jingling their change , the LDP politicians were caught in scandals	Money and women seldom have caused political scandals in Japan
+1	Money and women seldom have caused political scandals in Japan	Whereas most men were a bit ambivalent about the sex scandals ( though they were furious about Recruit ) , women were upset about both and surged to the polls
+8	Whereas most men were a bit ambivalent about the sex scandals ( though they were furious about Recruit ) , women were upset about both and surged to the polls	In the recent Upper House and Tokyo metropolitan congressional elections 60 % of all women voted , as opposed to the usual 40 %
+6	Taken by surprise , the Socialist Party is busy changing its doctrines	It 's now OK to deal with the U.S. , but not the Soviet Union
+7	It 's now OK to deal with the U.S. , but not the Soviet Union	Nuclear power plants are acceptable
+7	Nuclear power plants are acceptable	The U.S.-Japan Security Treaty can continue , sort of
+1	Against the rapid cosmetic overhaul of the Socialist Party the LDP has been paralyzed	Now is the time to reform the government from a provider , developing-country vanguard role to that of a modern , industrialized nation in which consumers have the ultimate choice
+2	Now is the time to reform the government from a provider , developing-country vanguard role to that of a modern , industrialized nation in which consumers have the ultimate choice	If the LDP , as currently composed , ca n't make the transformation , then it should split into two parties
+8	If the LDP , as currently composed , ca n't make the transformation , then it should split into two parties	One party could stand for consumer interests , small government , free trade and globalism to put Japan clearly among the most developed and open countries
+5	One party could stand for consumer interests , small government , free trade and globalism to put Japan clearly among the most developed and open countries	The other party could continue on the traditional track of the LDP , representing the manufacturers ' preference for larger government , control , regulation and protectionism
+2	The LDP must make a decision immediately	Lower House elections must take place before June
+5	Lower House elections must take place before June	In the current mood of the Japanese people , journalists and even some industrialists , giving power to the Socialists might be good for the LDP
+5	We must not forget , however , that such a humble political experiment could cause a global tidal wave of shocks in real-estate and financial markets	At the most there is only nine months before the LDP fuse burns out
+8	Early this century , diamond mining in the magnificent dunes where the Namib Desert meets the Atlantic Ocean was a day at the beach	Men would crawl in the sand looking for shiny stones
+10	Early this century , diamond mining in the magnificent dunes where the Namib Desert meets the Atlantic Ocean was a day at the beach	Men would crawl in the sand looking for shiny stones
+8	Men would crawl in the sand looking for shiny stones	It was as easy as collecting sea shells at Malibu
+6	But only after a fleet of 336 gargantuan earthmoving vehicles belonging to De Beers Consolidated Mines Ltd. , the world 's diamond kingpins , do their work	Last year , 43 million tons of desert were moved from one dune to another to recover 934,242 carats
+5	Last year , 43 million tons of desert were moved from one dune to another to recover 934,242 carats , which comes to 46 tons of sand per carat , or one-fifth gram	Oh yes , the Atlantic was also pushed back 300 yards
+2	Here , wedged between shifting dunes and pounding waves at the world 's most inhospitable diamond dig , lies the earth 's most precious jewel box	Thanks to centuries of polishing by Mother Nature 98 % of the diamonds uncovered are of gem quality
+1	Thanks to centuries of polishing by Mother Nature 98 % of the diamonds uncovered are of gem quality	While other mines might yield more carats , a higher percentage of them go to industrial use
+8	Since this treasure chest is too big to fit in a bank vault , it has been turned into one	Months after railway worker Zacharias Lewala first picked up a diamond from the sand in 1908 , the German colonialists who controlled Namibia proclaimed a wide swath of the desert -- about 200 miles north from the Orange River and 60 miles inland from the Atlantic -- a restricted area , a designation normally reserved for military operations
+9	Months after railway worker Zacharias Lewala first picked up a diamond from the sand in 1908 , the German colonialists who controlled Namibia proclaimed a wide swath of the desert a restricted area	When the Germans lost World War I , they lost Namibia to South Africa and the diamonds to Ernest Oppenheimer , patriarch of Anglo American Corp. and De Beers
+2	When the Germans lost World War I , they lost Namibia to South Africa and the diamonds to Ernest Oppenheimer , patriarch of Anglo American Corp. and De Beers	Today , no one gets in or out of the restricted area without De Beers 's stingy approval
+6	The mining zone has thus remained one of the most desolate places in Africa	Ghost towns dot the Namib dunes , proving diamonds are n't forever
+10	The mining zone has thus remained one of the most desolate places in Africa	Ghost towns dot the Namib dunes , proving diamonds are n't forever
+5	Ghost towns dot the Namib dunes , proving diamonds are n't forever	Oranjemund , the mine headquarters , is a lonely corporate oasis of 9,000 residents
+5	Oranjemund , the mine headquarters , is a lonely corporate oasis of 9,000 residents	Jackals roam the streets at night , and gemsbok , hardy antelope with long straight horns , wander in from the desert to drink from water sprinklers
+7	Jackals roam the streets at night , and gemsbok , hardy antelope with long straight horns , wander in from the desert to drink from water sprinklers	On most days , the desert 's heat and the cool of the ocean combine to create a mist like a damp rag
+7	On most days , the desert 's heat and the cool of the ocean combine to create a mist like a damp rag	The wind , stinging with sand , never seems to stop
+6	And Oranjemund boasts attractions besides diamonds	There are six video rental shops , three restaurants , one cinema and 34 sports and recreation clubs for everything from cricket to lawn bowling
+5	There are six video rental shops , three restaurants , one cinema and 34 sports and recreation clubs for everything from cricket to lawn bowling	The pride of Oranjemund is the 18-hole golf course -- with the largest sand trap in the world
+2	Last year , when the rising Orange River threatened to swamp the course , the same engineers who are pushing back the Atlantic rushed to build a wall to hold back the flood	Nothing is too good for our golf course
+6	Huge machines that look as though they came from the Star Wars desert-battle scene lumber among the dunes	Mechanized vacuum cleaners probe the sand like giant anteaters
+7	Mechanized vacuum cleaners probe the sand like giant anteaters	a whirring ferris wheellike excavator , with buckets instead of seats , chews through layers of compacted sand
+7	a whirring ferris wheellike excavator , with buckets instead of seats , chews through layers of compacted sand	tracks and conveyor belts , shuttling sand to the screening plants , criss-cross the beach
+9	Made of sand , it receives around-the-clock maintainence against the battering waves	When the mining in front of the wall is complete , it is moved northward
+5	When the mining in front of the wall is complete , it is moved northward	A companion jetty that helps hold back the sea looks like a rusting junkyard
+2	The Caterpillar people are n't too happy when they see their equipment used like that	They figure it 's not a very good advert
+1	Despite all these innovations , most of the diamonds are still found in the sand swept away by the men wielding shovels and brushes	they are supposed to concentrate on cleaning out crevices , and not strain their eyes looking for diamonds
+2	But should they spy one , the company will pay a bonus equal to one-third its value	For these workers at the bottom of the mine 's pay scale , this is usually enough to overcome the temptation to steal
+8	Still , employees do occasionally try to smuggle out a gem or two	One man wrapped several diamonds in the knot of his tie
+7	One man wrapped several diamonds in the knot of his tie	Another poked a hole in the heel of his shoe
+7	Another poked a hole in the heel of his shoe	A food caterer stashed stones in the false bottom of a milk pail
+1	One man wrapped several diamonds in the knot of his tie.Another poked a hole in the heel of his shoe.A food caterer stashed stones in the false bottom of a milk pail	None made it past the body searches and X-rays of mine security
+1	Not yet , anyway	Just after Hurricane Hugo battered South Carolina , some officials talked of perhaps adding a penny to the state gasoline tax or raising property taxes
+1	Just after Hurricane Hugo battered South Carolina , some officials talked of perhaps adding a penny to the state gasoline tax or raising property taxes	Gov . Campbell responded , `` They 're mentioning rope when there 's been a hanging in the family
+1	They 're mentioning rope when there 's been a hanging in the family	the governor believes he can avoid increases by relying on federal aid and shifting funds in state programs
+5	Hugo has n't prompted proposals for state or local increases	California , where earthquake damage may top $ 5 billion , plans a special legislative session
+1	Hugo has n't prompted proposals for state or local increases	California , where earthquake damage may top $ 5 billion , plans a special legislative session
+8	California , where earthquake damage may top $ 5 billion , plans a special legislative session	Property-tax relief is likely
+5	Property-tax relief is likely	Legislators are talking about temporary rises in sales or gasoline taxes , although Gov . Deukmejian says they should be a last resort
+1	Legislators are talking about temporary rises in sales or gasoline taxes	Needs are n't clear , and the state constitution makes increasing taxes and spending very difficult
+1	As a result of an erroneous IRS levy on a bank account , a taxpayer may incur administrative and overdraft charges	If the IRS admits its error and the charges have been paid , it will reimburse a taxpayer who has n't refused to give timely answers to IRS inquiries or has n't contributed to continuing or compounding the error
+5	If the IRS admits its error and the charges have been paid , it will reimburse a taxpayer who has n't refused to give timely answers to IRS inquiries or has n't contributed to continuing or compounding the error	The IRS recently amended the policy to cover stop-payment charges for checks lost by the IRS
+1	If the IRS asks for and gets a replacement for a check that it concedes it lost in processing , it will reimburse the taxpayer for the stop-payment charge on the original	Reimbursement claims must be filed with the IRS district or service-center director within a year after the expense accrues
+5	Reimbursement claims must be filed with the IRS district or service-center director within a year after the expense accrues	If the IRS seeks late-payment interest because of the lost check , you should request interest abatement
+5	They plan to expand the home site by buying five adjoining acres for $ 200,000 , borrowed against a first mortgage on the five acres and also collateralized by the 15 acres	Their debt will be well under the $ 1 million limit -- on borrowing to acquire , build , or improve a home -- that qualifies for mortgage-interest deductions
+5	IRS Notice 89108 has details	Notice 89-107 offers added relief for hurricane-hit concerns that must file pension and benefit-plan returns
+2	but do n't bet that contractors ' unreported income will be detected that way	that 50 % of IRS audits do n't spot companies that fail to file the reports
+2	A claim by Peter Testa of New York that a stranger paid him $ 500 to go into a bank and change $ 44,400 in small bills into large bills `` is unconvincing , '' the Tax Court found	It held that Testa is taxable on $ 44,400 of unreported income
+5	So he has arranged for a university foundation to set up a scholarship fund for undergraduate engineering students	He plans to tell clients to pay certain fees directly to the foundation instead of to him
+9	So he has arranged for a university foundation to set up a scholarship fund for undergraduate engineering students	He plans to tell clients to pay certain fees directly to the foundation instead of to him
+9	He plans to tell clients to pay certain fees directly to the foundation instead of to him	he would omit those fees from income reported on his return
+5	Well , notes IRS private ruling 8934014 , `` a fundamental principle '' is that income must be taxed to whoever earns it	The rule goes back at least as far as a 1930 Supreme Court decision
+5	Ben earns any fees sent directly to charity and is taxable on them	of course , he also may take a charitable deduction for them
+5	Ways and Means veteran Gephardt ( D. , Mo . ) moves to the House Budget Committee	Rep. Cardin ( D. , Md . ) replaces him
+1	Criticism from such big advertisers as Estee Lauder Inc. , Colgate-Palmolive Co. and Seagram Co. put a damper on the euphoria at the American Magazine Conference here	The conference opened Monday with glowing reports about consumer magazines ' growth in circulation and advertising revenue in the past year
+6	Magazines are not providing us in-depth information on circulation	How do readers feel about the magazine
+5	How deeply do they read it	Research does n't tell us whether people actually do read the magazines they subscribe to
+5	advertisers lack detailed demographic and geographic breakdowns of magazines ' audiences	We need research that convinces us that magazines are a real value in reader 's lives , that readers are really involved
+2	The critics also lambasted the magazine industry for something executives often are very proud of : the growth in magazine titles during the 1980s	consumer magazines are suffering from what he called `` niche-itis , '' the increasing number of magazines that target the idosyncratic interests of readers
+8	Niche-itis fragments our advertising dollars	We are being over-magazined
+2	We are being over-magazined	We are constantly faced with deciding which partnerships { with magazines } we can keep
+5	We are constantly faced with deciding which partnerships { with magazines } we can keep	There 's probably even a magazine for left-handed golfers
+8	and criticized the practice of stacking ads at the front of magazines	Readers do n't want to face all those ad pages at the front of a magazine , '' he said
+6	Magazine editors did not take the criticisms lying down	We spend a fortune on research information , '' said Steve Burzon , publisher of Meredith Corp. 's Metropolitan Home
+5	net income soared to $ 177 million , or $ 1.28 a share , from $ 65 million , or 38 cents a share , a year earlier	Revenue more than doubled to $ 2.62 billion from $ 1.29 billion
+2	Nevertheless , Salomon 's stock fell $ 1.125 yesterday to close at $ 23.25 a share in New York Stock Exchange composite trading	October was n't as good as the third quarter
+6	But some analysts say Salomon has turned the corner	I upgraded the firm to my buy list because I certainly see signs of improvement , '' says Lawrence Eckenfelder , an analyst at Prudential-Bache Securities
+5	I upgraded the firm to my buy list because I certainly see signs of improvement	The market has been overly harsh to them
+6	Analysts say investors remain skittish toward Salomon because of its volatile earnings	In the first quarter , Salomon had a record loss of $ 28 million on revenue of $ 1.54 billion
+1	With the market overbuilt , builders are finding limited opportunities and increased risks	Developers and money managers are looking for bargains among the thousands of financially troubled properties around the country
+5	Developers and money managers are looking for bargains among the thousands of financially troubled properties around the country	Real estate professionals now often bill themselves as `` turnaround experts '' and `` workout specialists
+5	Developers are also eyeing the real estate portfolios of major corporations	Some plan to pursue foreign development ventures , mostly in Europe
+6	So developers are saying they will look into distressed properties	They 'll go into someone else 's pasture as long as it 's greener than the one they 're in now
+2	Developers are also forming more joint ventures with pension funds and insurance companies that can finance big projects	The builders are more willing to give up some equity and rely on management and consulting fees to stay afloat in the soft market
+2	The builders are more willing to give up some equity and rely on management and consulting fees to stay afloat in the soft market	Developers are teaming up with institutions often acting as project managers
+8	Developers are teaming up with institutions often acting as project managers	They are growing more pragmatic about their role
+2	Real estate firms are also using their alliances with financial institutions to amass acquisition funds	Why should you beat your brains out fighting the environmentalists , the neighborhood groups , dealing with traffic mitigation , sewers and fighting city hall , then try to convince a lender to lend you money in an overbuilt market when you can get pension fund money , buy a portfolio , sell off pieces off it and play your own game
+2	that when it comes to distressed properties , finding diamonds in the rough is n't easy	The level of interest in the RTC 's properties has been greater than expected , and has come from larger companies than initially anticipated
+2	Finding pension funds and other sources willing to invest is a high priority	A theme of the Urban Land conference will be ` take a pension fund manager to lunch
+6	U.S. and Soviet officials hailed the joint project as a new indication of the further thaw in U.S.-Soviet relations	This is an outstanding example of how the East and the West can work together for their mutual benefit and progress , '' said Soviet Ambassador Yuri Dubinin
+5	the undertaking a `` historic step '' in the evolution of U.S.-Soviet ties	that it likely will have a `` mulitiplier effect '' in stimulating further trade between the two countries
+8	The project will be the largest U.S.-backed joint venture to be undertaken in the Soviet Union in recent years	One of the hotels , to be called the Sheraton Moscow , will have 450 rooms and will cost an estimated $ 75 million to build
+5	One of the hotels , to be called the Sheraton Moscow , will have 450 rooms and will cost an estimated $ 75 million to build	The six-story hotel will be on Gorky Street and initially will cater mostly to business travelers
+6	and initially will cater mostly to business travelers	It will have a Russian tavern , an English pub , a discotheque and Japanese and Italian restaurants , according to a Sheraton announcement
+5	Sheraton , a subsidiary of ITT Corp. , will have a 40 % share in the two hotels	Pan American , a subsidiary of Pan Am Corp. , will have a 10 % share
+5	Sheraton , a subsidiary of ITT Corp. , will have a 40 % share in the two hotels ; Pan American , a subsidiary of Pan Am Corp. , will have a 10 % share	The Soviet owners will be Mossoviet , Moscow 's city governing body , and Aeroflot , the Soviet national airline
+8	But some U.S. companies are negotiating projects that could be among the biggest ones to be launched	Chevron Corp. , Amoco Corp. , Archer-Daniels-Midland Co. , and Eastman Kodak Co. are among the U.S. companies known to be considering such ventures
+8	the U.S. airline 's participation is a natural outgrowth of its current arrangements with Aeroflot to jointly operate nonstop New York-Moscow flights	the rising volume of passenger traffic on this route justifies a major investment in new high-standard Moscow hotels
+8	David Shaffer was named to the new post of executive vice president of the Maxwell Macmillan group of this communications giant	Mr. Shaffer takes primary responsibility for the electronic and technical-services group
+9	Mr. Shaffer takes primary responsibility for the electronic and technical-services group	He had been group vice president of the electronic-publishing group
+5	A Japanese apple called the Fuji is cropping up in orchards the way Hondas did on U.S. roads	By 1995 it will be planted more often than any other apple tree , according to a recent survey of six apple-industry sages by Washington State University horticulturist Robert Norton
+5	By 1995 it will be planted more often than any other apple tree , according to a recent survey of six apple-industry sages by Washington State University horticulturist Robert Norton	the Fuji could someday tumble the Red Delicious from the top of America 's apple heap
+2	It certainly wo n't get there on looks	Compared to the Red Delicious , the exemplar of apple pulchritude , the Fuji is decidedly more dowdy -- generally smaller , less-perfectly shaped , greenish , with tinges of red
+5	Compared to the Red Delicious , the exemplar of apple pulchritude , the Fuji is decidedly more dowdy -- generally smaller , less-perfectly shaped , greenish , with tinges of red	To hear most U.S. growers tell it , we 'd still be in Paradise if the serpent had proffered one to Eve
+8	But how sweet it is	It has more sugar `` than any apple we 've ever tested
+5	It has more sugar `` than any apple we 've ever tested	It has a long shelf life and `` does n't fool the public
+8	and `` does n't fool the public	It does n't look nice on the outside while getting mealy inside
+5	Mr. Auvil , razor sharp at 83 , has picked and packed a zillion pecks of apples over the past 65 years	He is known as the father of the U.S.-grown Granny Smith , a radically different apple that the conventional wisdom once said would never catch on
+1	that the conventional wisdom once said would never catch on	It did , shaking the apple establishment to its roots
+1	It did , shaking the apple establishment to its roots	Now , even more radical changes seem afoot as the grand old maverick of American apples plays the role of Hiroshi Appleseed
+8	Now , even more radical changes seem afoot as the grand old maverick of American apples plays the role of Hiroshi Appleseed	The Fuji is going to be No . 1 to replace the Red Delicious
+2	The Delicious hegemony wo n't end anytime soon	New apple trees grow slowly , and the Red Delicious is almost as entrenched as mom
+5	and the Red Delicious is almost as entrenched as mom	Its roots are patriotic -- with the first trees appearing in 1872 in an orchard near Peru , Iowa , to be exact
+5	Its roots are patriotic -- with the first trees appearing in 1872 in an orchard near Peru , Iowa , to be exact	For more than 50 years , it has been the apple of our eye
+5	For more than 50 years , it has been the apple of our eye	A good Delicious can indeed be delicious
+5	A good Delicious can indeed be delicious	More than twice as many Red Delicious apples are grown as the Golden variety , America 's No . 2 apple
+2	But the apple industry is ripe for change	Red Delicious has been overplanted , and its prices have dropped below the cost of production
+6	But the apple industry is ripe for change	Red Delicious has been overplanted , and its prices have dropped below the cost of production
+5	Red Delicious has been overplanted , and its prices have dropped below the cost of production	The scare over Alar , a growth regulator that makes apples redder and crunchier but may be carcinogenic , made consumers shy away from the Delicious , though they were less affected than the McIntosh
+8	The scare over Alar , a growth regulator that makes apples redder and crunchier but may be carcinogenic , made consumers shy away from the Delicious	The glut and consequent lower prices , combined with cancer fears , was a very serious blow to growers
+8	The glut and consequent lower prices , combined with cancer fears , was a very serious blow to growers	A lot of growers wo n't be around in a few years
+2	But I 'm going to lose $ 50,000 to $ 60,000 on it	I 'm going to have to get another job this year just to eat
+5	Some 500 insects and 150 diseases wiggle , chew and romp through growers ' nightmares , including maggots , mites , mildew , thrips , black rot and the flat-headed borer	Even if a grower beats them back , his $ 2,000 rented bees might buzz off to the neighbors ' orchards instead of pollinating his
+2	Though growers ca n't always keep the worm from the apple , they can protect themselves against the price vagaries of any one variety by diversifying	I 've ripped out a lot of Delicious '' and grafted the trees with many different shoots
+2	I 've ripped out a lot of Delicious '' and grafted the trees with many different shoots	I 've got 70 kinds of apples
+6	I 've got 70 kinds of apples	Here 's a Waltana
+9	Here 's a Waltana , '' he exclaims , picking one off a tree	He bites it , scowls and throws it down
+2	scowls and throws it down	It 's a real dog
+1	Supermarkets are getting into the variety act , too	They still buy apples mainly for big , red good looks
+2	and stores are expanding shelf space for unconventional , but tastier , and often pricier , apples	Rather than sell 39-cents-a-pound Delicious , maybe we can sell 79-cents-a-pound Fujis
+5	The Fuji is a product of meticulous Japanese pomological engineering	Japanese researchers have bred dozens of strains of Fujis to hone its color , taste and shelf life
+2	Japanese researchers have bred dozens of strains of Fujis to hone its color , taste and shelf life	Now the best of them age as gracefully as Grannies , the industry 's gold standard for storability
+8	In the cornucopia of go-go apples , the Fuji 's track record stands out	During the past 15 years , it has gone from almost zilch to some 50 % of Japan 's market
+1	The Japanese apple market is very keyed to high quality and so apples are more of a delicacy there than a big food commodity	that this year Americans will eat about 40 % more fresh apples per capita than the Japanese
+8	But in California There 's a Fuji apple cult	Once somebody eats one , they get hooked
+2	that he could sell Fujis to Taiwan buyers at $ 40 a box if he had them	Taiwan already is a big importer of Fujis from other places
+1	But his first crop wo n't be picked till next year	I expect to see the demand exceed supply for Fujis for the next 10 to 15 years
+1	I expect to see the demand exceed supply for Fujis for the next 10 to 15 years	Washington Red Delicious , by the way , are wholesaling for less than $ 10 a box these days
+8	Fujis , in part , as striking a blow against the perversion of U.S. apples by supermarkets	When the chain stores took over , there was no longer a connection between grower and consumer
+1	When the chain stores took over , there was no longer a connection between grower and consumer	A guy is sitting up in an office deciding what you 're going to eat
+2	Then , as growers bred them more for looks , and to satisfy supermarket chains ' demands of long-term storage , the Red went into decline	Now , those red applelike things stores sell in summer are fruitbowl lovely , but usually not good eating
+8	The Fuji , to be sure , has blemishes too	It ripens later than most apples
+5	Moreover , the frumpy Fuji must compete with an increasingly dolledup Delicious	the `` big boss '' at a supermarket chain even rejected his Red Delicious recently because they were n't waxed and brushed for extra shine
+5	Still , Mr. Auvil points out , Grannies became popular without big , red looks , so why not Fujis	He sees a shift in American values -- at least regarding apples -- toward more emphasis on substance and less on glitz
+8	a shift in American values -- at least regarding apples -- toward more emphasis on substance and less on glitz	Taste has finally come to the fore
+9	The firms have all said that West Virginia 's suit is without merit	On Friday , the firms filed a suit against West Virginia in New York state court asking for a declaratory judgment absolving them of liability
+6	Few people are aware that the federal government lends almost as much money as it borrows	From 1980 to 1988 , while federal budget deficits totaled $ 1.41 trillion , the government issued $ 394 billion of new direct loans and an additional $ 756 billion of new primary loan guarantees
+5	From 1980 to 1988 , while federal budget deficits totaled $ 1.41 trillion , the government issued $ 394 billion of new direct loans and an additional $ 756 billion of new primary loan guarantees	These figures omit secondary guarantees , deposit insurance , and the activities of Government-Sponsored Enterprises ( a huge concern in its own right , as detailed on this page May 3
+1	Federal credit programs date back to the New Deal , and were meant to break even financially	Since the 1950s , federal lending has experienced extraordinary growth in credit volume , subsidy rates , and policy applications , spurred on by the growth of government in general and budget gimmicks and deceptive management in particular
+2	and budget gimmicks and deceptive management in particular	As we will see , many of these obligations do n't show up as part of the federal deficit
+6	But recent events indicate that federal credit is out of control	Student loan defaults remain high at about 12 % , and the program has been rocked by allegations of fraud and mismanagement
+7	Student loan defaults remain high at about 12 % , and the program has been rocked by allegations of fraud and mismanagement	Farmers Home Administration ( FmHA ) loans have turned into de facto giveaway programs
+8	Farmers Home Administration ( FmHA ) loans have turned into de facto giveaway programs	losses over the next three years are expected to exceed $ 20 billion
+7	Student loan defaults remain high at about 12 % , and the program has been rocked by allegations of fraud and mismanagement.Farmers Home Administration ( FmHA ) loans have turned into de facto giveaway programs ; losses over the next three years are expected to exceed $ 20 billion	Defaults on Veterans Affairs loan guarantees have quadrupled in the past eight years
+5	Last month , the General Accounting Office reported that defaults in Federal Housing Administration guarantees were five times as high as previously estimated , and that FHA 's equity fell to minus $ 2.9 billion	GAO 's findings are particularly troubling because the FHA has about $ 300 billion in obligations outstanding and had previously been considered one of the most financially secure credit programs
+2	If the programs continue their present path , the potential government losses are staggering	The federal government holds $ 222 billion in direct loans outstanding and backs an additional $ 550 billion in primary guarantees
+8	If the programs continue their present path , the potential government losses are staggering	The federal government holds $ 222 billion in direct loans outstanding and backs an additional $ 550 billion in primary guarantees
+5	The federal government holds $ 222 billion in direct loans outstanding and backs an additional $ 550 billion in primary guarantees	Secondary guarantees of pools of FHA- and VA-backed loans by the agency known as Ginnie Mae currently exceed $ 330 billion
+2	Although external events have contributed to the morass , the principal causes of the current crisis are internal and generic to all programs	To reduce the risks while still retaining the legitimate benefits these programs can provide , credit policy must : 1.Use credit to improve the operation of capital markets , not to provide subsidies
+8	There is a fundamental conflict between providing a subsidy and maintaining the integrity of a credit program	If the program is meant to provide a subsidy , collecting the debt defeats the original goal
+2	For example , legal restrictions on interstate banking once inhibited the supply of credit to the agricultural sector	Farm lending was enacted to correct this problem by providing a reliable flow of lendable funds
+2	For example , student loans currently attempt to subsidize college attendance and mitigate problems created by the fact that students ' future earnings are not accepted as collateral	The program provides highly subsidized loans to any student whose family earns less than a particular amount
+1	The program provides highly subsidized loans to any student whose family earns less than a particular amount	High default rates , a low interest rate , and government coverage of all interest costs while the student is in school make program costs extremely high
+5	High default rates , a low interest rate , and government coverage of all interest costs while the student is in school make program costs extremely high	Families that do not need the loan can make money simply by putting the loan in the bank and paying it back when the student graduates
+5	In contrast , a student loan program that was meant solely to correct capital-market imperfections would allow loans for any student , regardless of family income , at market or near-market rates	While the student was in school , interest costs would either be paid by the student or added to the loan balance
+6	Given the structure of most credit programs , it is surprising that default rates are not even higher	Guarantee rates are typically 100 % , giving lenders little reason to screen customers carefully
+1	Guarantee rates are typically 100 % , giving lenders little reason to screen customers carefully	Reducing those rates moderately ( say , to 75 % ) would still provide substantial assistance to borrowers
+2	Borrowers ' incentives are equally skewed	Since the government has a dismal record of collecting bad debts , the costs to the borrower of defaulting are usually low
+2	Since the government has a dismal record of collecting bad debts , the costs to the borrower of defaulting are usually low.In addition , it is often possible to obtain a new government loan even if existing debts are not paid off	Simple policy prescriptions in this case would be to improve debt collection ( taking the gloves off contracted collection agencies ) and to deny new credit to defaulters
+2	Simple policy prescriptions in this case would be to improve debt collection ( taking the gloves off contracted collection agencies ) and to deny new credit to defaulters	These provisions would be difficult to enforce for a program intended to provide a subsidy , but would be reasonable and effective devices for programs that attempt to offset market imperfections
+1	Since the budget measures cash flow , a new $ 1 direct loan is treated as a $ 1 expenditure , even though at least part of the loan will be paid back	Loan guarantees do n't appear at all until the borrower defaults , so new guarantees do not raise the deficit , even though they create future liabilities for the government
+2	Loan guarantees do n't appear at all until the borrower defaults , so new guarantees do not raise the deficit , even though they create future liabilities for the government	By converting an expenditure or loan to a guarantee , the government can ensure the same flow of resources and reduce the current deficit
+2	By converting an expenditure or loan to a guarantee , the government can ensure the same flow of resources and reduce the current deficit	Predictably , guarantees outstanding have risen by $ 130 billion since 1985 , while direct loans outstanding have fallen by $ 30 billion
+2	This figure could be estimated using techniques employed by private lenders to forecast losses , or determined by selling loans to private owners ( without federal guarantees )	Neither technique is perfect , but both are better than the current system , which misstates the costs of new credit programs by amounts that vary substantially and average about $ 20 billion annually , according to the Congressional Budget Office
+5	This figure could be estimated using techniques employed by private lenders to forecast losses , or determined by selling loans to private owners ( without federal guarantees )	Neither technique is perfect , but both are better than the current system , which misstates the costs of new credit programs by amounts that vary substantially and average about $ 20 billion annually , according to the Congressional Budget Office
+2	but both are better than the current system	A budget that reflected the real costs of lending would eliminate incentives to convert spending or lending programs to guarantees and would let taxpayers know what Congress is committing them to
+6	Creative accounting is a hallmark of federal credit	Many agencies roll over their debt , paying off delinquent loans by issuing new loans , or converting defaulted loan guarantees into direct loans
+2	Many agencies roll over their debt , paying off delinquent loans by issuing new loans , or converting defaulted loan guarantees into direct loans	In any case , they avoid having to write off the loans
+5	Many agencies roll over their debt , paying off delinquent loans by issuing new loans , or converting defaulted loan guarantees into direct loans.In any case , they avoid having to write off the loans	Some agencies simply keep bad loans on the books
+6	Some agencies simply keep bad loans on the books	as late as 1987 , the Export-Import Bank held in its portfolio at face value loans made to Cuba in the 1950s
+5	Many agencies roll over their debt , paying off delinquent loans by issuing new loans , or converting defaulted loan guarantees into direct loans.In any case , they avoid having to write off the loans.Some agencies simply keep bad loans on the books ; as late as 1987 , the Export-Import Bank held in its portfolio at face value loans made to Cuba in the 1950s	More seriously , FmHA has carried several billion dollars of defaulted loans at face value
+5	More seriously , FmHA has carried several billion dollars of defaulted loans at face value	Until GAO 's recent audit , FHA books had not been subject to a complete external audit in 15 years
+2	The administration of federal credit should closely parallel private lending practices , including the development of a loan loss reserve and regular outside audits	Establishing these practices would permit earlier identification of emerging financial crises , provide better information for loan sales and budgeting decisions , and reduce fraud
+1	Government lending was not intended to be a way to obfuscate spending figures , hide fraudulent activity , or provide large subsidies	The reforms described above would provide a more limited , but clearer , safer and ultimately more useful role for government as a lender
+1	The reforms described above would provide a more limited , but clearer , safer and ultimately more useful role for government as a lender	Without such reforms , credit programs will continue to be a large-scale , high-risk proposition for taxpayers
+9	Malcolm S. Todt was named vice president and senior officer in charge of equipment leasing to municipalities , a new effort of this bond insurer	Mr. Todt had been vice president and treasurer of Insilco Corp
+2	Mr. Bush has long campaigned for passage of a bill or a constitutional amendment that would explicitly give him a line-item veto	that such presidential power is necessary to rein in congressional spending
+9	but simply to assert that the Constitution already implicitly gives him the power to exercise a line-item veto	Such an assertion most likely would bring about a court challenge from Congress that would clarify whether a president already has such power
+2	but simply to assert that the Constitution already implicitly gives him the power to exercise a line-item veto	Such an assertion most likely would bring about a court challenge from Congress that would clarify whether a president already has such power
+5	she is confident it will gain considerable support from the U.S. 's trading partners	the new U.S. proposal would n't `` put farmers out of business '' but would only encourage them to `` grow what the markets desire instead of what the government wants
+5	The U.S. is submitting the proposal today in Geneva	Another U.S. proposal filed Monday urges more `` fair play '' in services trade
+1	the new package calls for the elimination of only the most tradedistorting ones	Less objectionable ones would be subject only to some restraints , and others with a `` relatively minor trade impact '' would be allowed to continue under certain conditions
+1	the European Community 's current attempt to bar imports of beef from hormone-treated U.S. cattle	The U.S. contends that the rules are n't justified on health grounds
+5	the European Community 's current attempt to bar imports of beef from hormone-treated U.S. cattle	The U.S. contends that the rules are n't justified on health grounds
+5	Net for the quarter ended Sept. 30 climbed to $ 551 million , or $ 1.66 a share , from $ 400 million , or $ 1.18 a share , a year earlier	Per-share figures have been adjusted for a 2-for-1 stock split effective Oct. 20
+5	Net for the quarter ended Sept. 30 climbed to $ 551 million , or $ 1.66 a share , from $ 400 million , or $ 1.18 a share , a year earlier.Per-share figures have been adjusted for a 2-for-1 stock split effective Oct. 20	Sales increased 6 % to $ 5.58 billion from $ 5.27 billion
+8	Excluding the gain , P & G 's earnings were close to analysts ' predictions of about $ 1.40 a share for the quarter	Wall Street had expected a modest rise in the company 's domestic sales and earnings , and more substantial increases in overseas results
+5	Wall Street had expected a modest rise in the company 's domestic sales and earnings , and more substantial increases in overseas results	One factor helping sales and earnings was a 3 % price rise for most P & G products , except coffee
+6	with P & G continuing to win market share in Japan 's diaper and detergent markets	P & G 's Always sanitary napkin , sold under the Whisper name in Japan , has firmly established itself as a leading brand
+2	P & G 's Always sanitary napkin , sold under the Whisper name in Japan , has firmly established itself as a leading brand	P & G will expand its personal-care product line in Japan to `` continue that momentum
+8	which had a strong year-earlier first quarter	Last year 's drought in the Midwest prompted retailers to stock up on oils ahead of anticipated price increases , boosting sales for Crisco and Puritan oils
+6	For fiscal 1990 , analysts expect P & G 's sales to continue to grow , with earnings climbing between 15 % and 20 %	Lynne Hyman , vice president of equity research for First Boston Corp. , expects P & G to post net of about $ 4.20 a share , on a post-split basis
+1	there 's a good chance they 'll do a bit better than that	In fiscal 1989 , P & G earned $ 3.56 a share , adjusted for the stock split
+6	Because of his remarkable success turning around P & G 's international operations , analysts have high hopes for his tenure	If he does to the domestic operations what he did internationally this company will earn $ 6 or $ 7 a share in a few years
+1	The Voting Rights Act of 1965 was enacted to keep the promise of the Fifteenth Amendment and enable Southern blacks to go to the polls , unhindered by literacy tests and other exclusionary devices	Twenty-five years later , the Voting Rights Act has been transformed by the courts and the Justice Department into a program of racial gerrymandering designed to increase the number of blacks and other minorities -- Hispanics , Asians and native Americans -- holding elective office
+5	In the 1980s , the Justice Department and lower federal courts that enforce the Voting Rights Act have required state legislatures and municipal governments to create the maximum number of `` safe '' minority election districts	The program has even been called upon to create `` safe '' white electoral districts in municipalities where whites are the minority
+2	The new goal of the Voting Rights Act -- more minorities in political office -- is laudable	For the political process to work , all citizens , regardless of race , must feel represented
+1	One essential indicator that they are is that members of minority groups get elected to public office with reasonable frequency	As is , blacks constitute 12 % of the population , but fewer than 2 % of elected leaders
+2	But racial gerrymandering is not the best way to accomplish that essential goal	It is a quick fix for a complex problem
+1	Examples of the divisive effects of racial gerrymandering can be seen in two cities -- New York and Birmingham , Ala	When they reapportion their districts after the 1990 census , every other municipality and state in the country will face this issue
+9	when Congress first amended the Voting Rights Act to expand its reach beyond the Southern states	In 1972 , the Justice Department required that the electoral map in the borough of Brooklyn be redrawn to concentrate black and Hispanic votes , despite protests that the new electoral boundaries would split a neighborhood of Hasidic Jews into two different districts
+9	This year , a commission appointed by the mayor to revise New York 's system of government completed a new charter , expanding the City Council to 51 from 35 members	Sometime in 1991 , as soon as the 1990 census becomes available , a redistricting panel will redraw the City Council district lines
+5	Sometime in 1991 , as soon as the 1990 census becomes available , a redistricting panel will redraw the City Council district lines	the new district lines will be drawn to maximize the number of solidly minority districts
+1	the new district lines will be drawn to maximize the number of solidly minority districts	Blacks and Hispanics currently make up 38 % of the city 's population and hold only 25 % of the seats on the council
+5	the new district lines will be drawn to maximize the number of solidly minority districts	Blacks and Hispanics currently make up 38 % of the city 's population and hold only 25 % of the seats on the council
+2	several members of New York 's sitting City Council represent heterogeneous districts that bring together sizable black , Hispanic , and non-Hispanic white populations	To win their seats on the council , these political leaders have had to listen to all the voices in their district and devise public policies that would benefit all
+5	To win their seats on the council , these political leaders have had to listen to all the voices in their district and devise public policies that would benefit all	Often they have found that the relevant issue is not race , but rather housing , crime prevention or education
+2	In Birmingham , which is 57 % black , whites are the minority	Insisting that they are protected by the Voting Rights Act , a group of whites brought a federal suit in 1987 to demand that the city abandon at-large voting for the nine member City Council and create nine electoral districts , including four safe white districts
+8	Insisting that they are protected by the Voting Rights Act , a group of whites brought a federal suit in 1987 to demand that the city abandon at-large voting for the nine member City Council and create nine electoral districts , including four safe white districts	The white group argued that whites were not fully and fairly represented , because in city-wide elections only black candidates or white candidates who catered to `` black interests '' could win
+2	but in June the Justice Department approved a districting plan for Birmingham that carves out three white-majority districts and six black-majority districts	Richard Arrington , Birmingham 's black mayor , lamented the consequences
+8	Richard Arrington , Birmingham 's black mayor , lamented the consequences	In the past , people who had to run for office had to moderate their views because they could n't afford to offend blacks or whites , '' he said
+1	In the past , people who had to run for office had to moderate their views because they could n't afford to offend blacks or whites	Now you go to districts , you 're likely to get candidates whose views are more extreme , white and black , on racial issues
+6	that the electoral districts for Congress were too large and encompassed too many different economic interests	A small farmer and a seaport merchant could not be represented by the same spokesman
+8	But James Madison refuted that argument in one of the most celebrated political treatises ever written , No . 10 of the Federalist Papers	Madison explained that a representative 's duty was to speak not for the narrow interests of one group but instead for the common good
+2	that a representative 's duty was to speak not for the narrow interests of one group but instead for the common good	Large , heterogeneous election districts would encourage good government because a representative would be compelled to serve the interests of all his constituents and be servile to none
+8	Madison 's noble and unifying vision of the representative still can guide us	As long as we believe that all Americans , of every race and ethnic background , have common interests and can live together cooperatively , our political map should reflect our belief
+1	As long as we believe that all Americans , of every race and ethnic background , have common interests and can live together cooperatively , our political map should reflect our belief	Racial gerrymandering -- creating separate black and white districts -- says that we have discarded that belief in our ability to live together and govern ourselves as one people
+5	Such orders can have a wide-ranging impact on third parties who do business with the defendants , including clients , vendors , banks , investors , creditors , dependents , and others	Some highly publicized cases involving RICO TROs have been the subject of considerable criticism in the press
+2	Some highly publicized cases involving RICO TROs have been the subject of considerable criticism in the press , because of a perception that pre-trial freezing of assets is tantamount to a seizure of property without due process	In order to ensure that the rights of all interested parties are protected , the Criminal Division has instituted the following requirements to control the use of TROs in RICO prosecutions
+5	In order to ensure that the rights of all interested parties are protected , the Criminal Division has instituted the following requirements to control the use of TROs in RICO prosecutions	It should be noted that these requirements are in addition to any other existing requirements , such as review by the Asset Forfeiture Office
+8	As part of the approval process for RICO prosecutions , the prosecutor must submit any proposed forfeiture TRO for review by the Organized Crime and Racketeering Section	The prosecutor must show that less-intrusive remedies ( such as bonds ) are not likely to preserve the assets for forfeiture in the event of a conviction
+2	In deciding whether forfeiture ( and , hence , a TRO ) is appropriate , the Section will consider the nature and severity of the offense	the government 's policy is not to seek the fullest forfeiture permissible under the law where that forfeiture would be disproportionate to the defendant 's crime
+8	Since then , deliveries have slumped	GM 's car sales dropped 24.8 % in mid-October to 69,980 , while truck sales fell 26 % to 37,860
+5	GM 's car sales dropped 24.8 % in mid-October to 69,980 , while truck sales fell 26 % to 37,860	GM also had dismal results in the first 10 days of the month
+5	All of the Big Three suffered in the just-ended period , however , with sales of all domestically made cars , including those built at Japanese-managed plants , falling 19 % to 158,863 from a year earlier	The seasonal adjusted annual selling rate was six million vehicles , a small improvement from the 5.8 million rate of early October , but a big drop from the 7.1 million rate a year ago
+5	but that may not be enough to prevent inventories from ballooning if sales do n't improve	that domestic auto makers will have a 93-day supply of cars at the end of the year , even if car sales improve to a 6.5 million vehicle rate for the quarter
+5	that domestic auto makers will have a 93-day supply of cars at the end of the year , even if car sales improve to a 6.5 million vehicle rate for the quarter	Ford Motor Co. reported a 21.2 % drop in sales of domestic-made cars to 46,995 and a 24.2 % drop in domestic trucks to 31,143
+5	Ford Motor Co. reported a 21.2 % drop in sales of domestic-made cars to 46,995 and a 24.2 % drop in domestic trucks to 31,143	The sales are being dragged down by a glut of 1989 vehicles
+2	The sales are being dragged down by a glut of 1989 vehicles	The earlier use of incentives depleted the market of `` scavengers '' for bargain-basement 1989 cars
+5	Town & Country Ford in Charlotte , N.C. , still needs to move about 850 1989 cars and trucks	Business had been fairly strong until Hurricane Hugo hit the area , but has been down since
+8	Chrysler Corp. also hit the rocks in mid-October	The No . 3 U.S. auto maker had a 23.7 % plunge in car sales to 22,336 and a 17.5 % drop in truck sales to 22,925 , which include its minivans and Jeeps
+8	Generally , a short seller expects a fall in a stock 's price and aims to profit by selling borrowed shares that are to be replaced later	the short seller hopes the replacement shares bought later will cost less than those that were sold
+2	the short seller hopes the replacement shares bought later will cost less than those that were sold	Short interest can be a bad-expectations barometer for many stocks
+8	Among 2,412 of the largest OTC issues , short interest rose to 196.8 million shares , from 185.7 million in 2,379 stocks in September	Big stocks with large short interest gains as of Oct. 13 included First Executive , Intel , Campeau and LIN Broadcasting
+7	Short interest in First Executive , an insurance issue , rose 55 % to 3.8 million	Intel 's short interest jumped 42 % , while Campeau 's increased 62 %
+5	Meritor Savings again had the dubious honor of being the OTC stock with the biggest short interest position on Nasdaq	Meritor has headed the list since May
+2	Short selling is n't necessarily bad for the overall market	Shorted shares must eventually be replaced through buying
+8	Two big stocks involved in takeover activity saw their short interest surge	Short interest in the American depositary receipts of Jaguar , the target of both Ford Motor and General Motors , more than doubled
+1	What defeated General Aoun was not only the weight of the Syrian army	The weight of Lebanon 's history was also against him
+2	Like Lebanon , and however unfairly , Israel is regarded by the Arab world as a colonial aberration	Its best hope of acceptance by its neighbours lies in reaching a settlement with the Palestinians
+2	Its best hope of acceptance by its neighbours lies in reaching a settlement with the Palestinians	Like Lebanon , Israel is being remade by demography
+8	Like Lebanon , Israel is being remade by demography	In Greater Israel more than half the children under six are Muslims
+2	In Greater Israel more than half the children under six are Muslims	Within 25 years Jews will probably be the minority
+1	By not choosing one of these options , Israelis will condemn themselves , as the Maronites did , to perpetual war with the Muslims in their midst	Unlike the Maronites , Israel 's Jews will not let themselves become the weakest force in a system of private armies
+2	Unlike the Maronites , Israel 's Jews will not let themselves become the weakest force in a system of private armies	Jerusalem will become Belfast before it becomes Beirut
+5	In contrast , the industrial average recovered almost completely from its skid and closed down 0.1 %	The New York Stock Exchange Composite was 0.4 % lower for the day
+5	MCI Communications , the most active issue , finished down 5/8 to 42 1/8	MCI traded as low as 41 3/8 during the session
+7	Other active stocks included Jaguar , whose American depositary receipts added 1/8 to 11 1/4	Apple Computer improved 7/8 to 47 5/8
+7	Apple Computer improved 7/8 to 47 5/8	Intel slipped 1/4 to 33 1/4
+1	Mr. DaPuzzo also complained that the sharp swings in stock prices lately is scaring away retail and foreign investors	While Shearson does n't do computer-guided program trading for its own account , the firm does execute orders for clients involved in the buying and selling of shares tied to movements in certain stock indexes
+8	The volatility inherent in program trading troubled other traders , too	They do n't like the risks they are forced to assume when prices swing so drastically
+8	They do n't like the risks they are forced to assume when prices swing so drastically	Market makers are supposed to keep supplies of stocks on hand to maintain orderly trading when imbalances occur
+2	That means that on days when prices are tumbling and sellers abound they must be willing to buy shares from sellers when no one else will	In such an environment , a market maker can absorb huge losses
+8	But the recent volatility in stock prices caused by the program trading has made some market makers less willing to soak up the stocks that are for sale	they are n't comfortable carrying big positions in stocks because they realize prices can tumble quickly
+8	The situation makes it harder to buy and sell shares quickly , exacerbating the rise and fall in stock prices during program-dominated trading	It 's making it tough for traders to make money
+5	It 's making it tough for traders to make money	when sell programs kick in , many traders believe that `` there 's no sense in sticking your nose out because you 're an instant loser
+5	Ohio Casualty dropped 2 1/8 to 49 1/2	The company posted third-quarter earnings of 95 cents a share , down from $ 1.26 a year earlier
+2	The company posted third-quarter earnings of 95 cents a share , down from $ 1.26 a year earlier	that losses from Hurricane Hugo reduced net income by 32 cents a share in the most recent quarter
+8	XL/Datacomp slid 2 1/4 to 16 1/2 amid continuing concerns about the company 's contract negotiations with International Business Machines	IBM is reviewing its entire business-partners program , and XL/Datacomp confirmed earlier this month that it was in talks with the company about possible modifications to its current IBM-remarketer contract
+5	Omni Capital Group surged 1 3/4 to 16 1/4	net rose to 38 cents a share in its fiscal-first quarter ended Sept. 30 , from 35 cents a shares a year ago
+5	We 're happy , we guess , to receive confirmation of the Krasnoyarsk violation from the Soviets , five years after we started writing about it	Perhaps even the American apologists will now accede
+2	Without question , something intriguing is going on in the policy chambers of the Politburo	the Soviet government has recognized it has a credibility problem
+1	It 's not enough	If the Soviets want to be believed , they need to start telling the truth about more than the totally obvious
+6	If the Soviets want to be believed , they need to start telling the truth about more than the totally obvious	Our own test of `` glasnost 's '' authenticity would be a Soviet decision to open itself to a complete international examination of one of the most troubling mysteries in U.S.-Soviet relations -- the reported 1979 anthrax outbreak at a Soviet military facility in Sverdlovsk
+2	The U.S. government has never waivered in its assessment of this incident as an accident at a biological weapons facility there	The Pentagon 's recently issued `` Soviet Military Power repeated the Sverdlovsk assessment
+1	Since Mr. Shevardnadze did not address this topic before the Supreme Soviet , the Soviet Union 's official position remains that the anthrax deaths were caused by tainted meat	We doubt this claim just as we doubted Mr. Shevardnadze 's assurance last year that Krasnoyarsk did n't violate the ABM treaty
+2	And we certainly do not believe that Mr. Gorbachev or any of his emissaries yet deserve to have the West take their word for it	Sverdlovsk is a large gray cloud over glasnost and indeed over the legitimacy of the arms-control process itself
+1	The U.S. government 's Sverdlovsk complaint , as with Krasnoyarsk , is no mere political posturing	Biological weapons violations have figured little in political debate , and indeed have not been pressed vigorously enough by the U.S. government
+1	The Soviets should be willing to set in motion a process that would allow them to acknowledge that Sverdlovsk violated the 1972 agreement or , alternatively , that would give U.S. specialists reasonable confidence that this was a wholly civilian accident	Until that happens , glasnost can not begin to deserve the kind of credibility Mr. Shevardnadze was bidding for with his confessions on Monday
+5	it made the offer within the past several weeks as part of an effort to improve shareholder value	it would purchase the stock at market price
+8	that the two are discussing the proposal but a decision has n't been made	We are considering that offer along with all other alternatives
+8	We are considering that offer along with all other alternatives	We need to look at how to maximize our cash flow to pay our beneficiaries
+2	and may soon face a cash crunch	As of June 30 , it had settled about 15,000 of 81,000 claims filed and its unpaid claims totaled $ 136 million , a large portion of its $ 268 million in cash and marketable securities
+1	As part of its offer , Manville said it requested changes in some covenants between it and the trust to allow Manville to `` reflect a more typical corporate ownership and financial structure	A Manville spokesman would n't elaborate on the proposed changes
+1	The $ 2.25 billion value claimed by Northeast , based in Hartford , Conn. , is the highest yet given to a bid	Some of the three other bidding groups are expected to increase their offers tomorrow
+5	Under the new Northeast Utilities plan , it would pay $ 1.65 billion in cash to creditors and assume $ 100 million in pollution control bonds	Secured creditors would recover both principal and interest , while unsecured creditors would receive only principal and interest accrued before PS of New Hampshire filed for Bankruptcy Code protection in January
+8	The biggest change in Northeast 's offer was in improvements made for equity holders who had been given short shrift previously	Assuming full operation of the Seabrook nuclear power plant equity holders would receive up to $ 500 million in cash , preferred stock and new 10-year Seabrook bonds
+1	Assuming full operation of the Seabrook nuclear power plant equity holders would receive up to $ 500 million in cash , preferred stock and new 10-year Seabrook bonds	Northeast 's previous offer had proposed that equity holders receive just $ 165 million
+1	In addition , Northeast promised the State of New Hampshire that rate increases would be limited to 5.5 % annually for seven years	Its previous proposal had conditioned rate limits on Seabrook operations and other contingencies
+8	The company has filed an internal reorganization plan it valued at $ 2.2 billion that would require 5.5 % rate increases	That plan would leave existing preferred shareholders with at least a 41 % stake and give common shareholders as little as 13 %
+2	that would require rate increases of only 4.8 % annually for seven years	The state of New Hampshire has favored that plan
+8	Once again , the indomitable peasant holds Poland 's future in his hands	Until his labor can produce a profit in this dying and distorted system , even Solidarity 's sympathetic new government wo n't win him over
+1	Factory workers on strike knocked Poland 's Communist bosses off balance last year	this year , it was the farmers who brought them down
+2	this year , it was the farmers who brought them down	In June , farmers held onto meat , milk and grain , waiting for July 's usual state-directed price rises
+2	The Communists froze prices instead	The farmers ran a boycott
+9	The farmers ran a boycott , and meat disappeared from the shops	On Aug. 1 , the state tore up its controls , and food prices leaped
+2	On Aug. 1 , the state tore up its controls , and food prices leaped	Without buffer stocks , inflation exploded
+2	But by the time Solidarity took office in September , the damage was done	Shortageflation , '' as economists have come to call it , had gone hyper
+6	Shortageflation , '' as economists have come to call it , had gone hyper	The cost of raising a pig kept bounding ahead of the return for selling one
+2	The cost of raising a pig kept bounding ahead of the return for selling one	The farmers stayed angry
+5	The farmers stayed angry	They still are
+2	At dawn on a cool day , hundreds travel to the private market in Radzymin , a town not far from Warsaw , hauling pigs , cattle and sacks of feed that the state 's official buyers ca n't induce them to sell	Here , they are searching for a higher price
+9	In a crush of trucks and horse carts on the trodden field , Andrzej Latowski wrestles a screeching , overweight hog into the trunk of a private butcher 's Polish Fiat	Of course it 's better to sell private , '' he says , as the butcher trundles away
+8	Of course it 's better to sell private	Why should anybody want to sell to them
+1	The young farmer makes money on the few hogs he sells here	He wo n't for long
+8	because his old state sources of rye and potatoes are drying up	There 's no feed
+8	There 's no feed	You ca n't buy anything nowadays
+5	Like the others , it is loaded with rye , wheat and oats in sacks labeled `` Asbestos.Made in U.S.S.R	The farmer at the next truck shouts , `` Wheat ! It 's nice
+10	Like the others , it is loaded with rye , wheat and oats in sacks labeled `` Asbestos.Made in U.S.S.R	The farmer at the next truck shouts , `` Wheat ! It 's nice
+9	The farmer at the next truck shouts , `` Wheat ! It 's nice ! It wo n't be cheaper ! We sell direct	A heavy , kerchiefed woman runs a handful through her fingers , and counts him out a pile of zlotys
+1	Country people breed pigs	They ca n't buy feed from the state
+2	They ca n't buy feed from the state	There is n't enough
+5	There is n't enough	Some state middlemen come to buy from me
+2	I sell -- a little	I am waiting
+5	I am waiting	I have plenty more at home
+8	On this morning , he does n't sell much in Radzymin , either	At closing time , farmers cart out most of what they carted in
+2	At closing time , farmers cart out most of what they carted in	A private market like this just is n't big enough to absorb all that business
+8	The hulk of Stalinism , it seems , will not quickly crumble away	State monopolies will keep on stifling trade , `` free '' prices or not , until something else replaces them
+2	State monopolies will keep on stifling trade , `` free '' prices or not , until something else replaces them	Polish agriculture will need a whole private network of procurement , processing and distribution -- plus a new manufacturing industry to supply it with tractors , pesticides , fertilizers and feed
+8	State monopolies will keep on stifling trade , `` free '' prices or not , until something else replaces them	Polish agriculture will need a whole private network of procurement , processing and distribution -- plus a new manufacturing industry to supply it with tractors , pesticides , fertilizers and feed
+2	The Communists spent 40 years working to ensure that no such capitalistic structures ever arose here	Building them now will require undergirding from the West , and removal of political deadwood , a job that Solidarity has barely started
+5	We are dealing with real entrepreneurs	There are a lot of them
+1	Polish peasants , spurning the collectivizers , were once a source of shame to orthodox Communists	Now , among Communist reformers , they are objects of envy
+2	Now , among Communist reformers , they are objects of envy	Food is the reformer 's top priority , the key to popular support
+2	As the Chinese have shown and the Soviets are learning , family farms thrive where collectives fail	Ownership , it seems , is the best fertilizer
+5	Ownership , it seems , is the best fertilizer	The Poles have had it all along
+2	On it , a quarter of the country 's 39 million people produce three-quarters of its grain , beef , eggs and milk , and nine-tenths of its fruit , vegetables and potatoes	Like the Roman Catholic Church , the Polish peasant is a pillar of the nation
+8	Like the Roman Catholic Church , the Polish peasant is a pillar of the nation	Try as they might , the Communists could neither replace nor break him
+5	Czeslaw Pyszkiewicz owns 30 acres in 14 scattered scraps	He grows rye and potatoes for a few hens , five cows and 25 piglets
+1	Until 1963 , it was good soil	Then the state put in a reservoir to supply the area with drinking water
+1	Then the state put in a reservoir to supply the area with drinking water	Farmers lay down before the bulldozers
+1	Farmers lay down before the bulldozers	Their protest was ignored
+2	Mr Pyszkiewicz smiles and his brow furrows	He expected as much
+1	In his lifetime , 47 years , the Communists brought electricity to his village and piped in drinking water from the reservoir	No phones
+7	No phones	No gas
+7	No phones.No gas	We wanted them to build a road here
+5	to build a road here	They started , and then abandoned it
+7	No phones.No gas . `` We wanted them to build a road here , '' he says . `` They started , and then abandoned it	A tractor , his only mechanized equipment , stands in front of the pigsty
+8	It 's Russian	Good for nothing
+7	Good for nothing	Parts are a tragedy
+5	Parts are a tragedy	Even if I had a lot of money , I could n't buy what I need
+2	The farmer can say the same for coal , cement , saw blades	In Poland , only 4 % of all investment goes toward making things farmers want
+1	In Poland , only 4 % of all investment goes toward making things farmers want	in the West , it is closer to 20 %
+5	The few big state farms take first crack at what does get made	They use 60 % more fertilizer per acre , twice the high-grade feed
+1	There is a lot of waste	A private farmer never wastes anything
+6	But it never did let up on the pressure	Until recently , a farmer with no heir had to will the state his land to collect his pension
+5	Until recently , a farmer with no heir had to will the state his land to collect his pension	The pension 's size still depends on how much produce he sells the state
+9	The pension 's size still depends on how much produce he sells the state	His allotment of materials also did
+2	Yet the state alone sells seeds and machines	When supplies are short , it often hands them over only in exchange for milk or grain
+5	A private farmer in Poland is free to buy and sell land , hire help , decide what to grow and how to grow it	He is free to invest in chickens , and to fail for lack of chicken wire
+8	He is free to invest in chickens , and to fail for lack of chicken wire	He has plenty of freedom -- but no choices
+2	I 'm on my own land	I do n't have to listen to what anybody tells me to do
+6	By starving the peasant , the Communists have starved Poland	Villages like Zalubice exist in a desert of poor schools and few doctors
+5	Villages like Zalubice exist in a desert of poor schools and few doctors	Farm income is 15 % below the average
+5	Farm income is 15 % below the average	The young leave , especially girls who wo n't milk cows by hand
+2	Farm income is 15 % below the average.The young leave , especially girls who wo n't milk cows by hand	Some men stay , their best friend a bottle of vodka , but two million acres have gone fallow
+5	but two million acres have gone fallow	Without machines , good farms ca n't get bigger
+5	So the potato crop , once 47 million tons , is down to 35 million	Meat consumption is at 1979 's level , pork production at 1973 's , milk output at 1960 's
+5	If a food crisis undid the Communists , a food revolution will make Solidarity	The potential is displayed along every road into Warsaw : row upon row of greenhouses , stretching out behind modern mansions that trumpet their owners ' wealth
+5	The potential is displayed along every road into Warsaw : row upon row of greenhouses , stretching out behind modern mansions that trumpet their owners ' wealth	Vegetables are abundant and full of flavor in Poland , the pickles and sauerkraut sublime , the state monopolies long broken
+2	A private challenge to the monolithic tractor industry will take more time and money than Poland can spare	Poland makes no machinery for a plant on that scale
+2	Poland makes no machinery for a plant on that scale	Solidarity wants it from the West
+8	Solidarity wants it from the West	The World Bank will be brought in to help us destroy the old system
+2	Felix Siemienas is destroying it now	He packs pork
+8	Felix Siemienas is destroying it now	He packs pork
+2	A law went on the books in January that let him smoke bacon without breeding pigs	He cashed in
+8	He cashed in	Poland is short on enterprises , not enterprise
+5	I hire transportation , and my customers have fresh cold cuts every day	I do n't subsidize anyone
+2	I do n't subsidize anyone	Everyone around me lives well
+1	Yes , my prices are high	If nobody buys , I bring my prices down
+8	If nobody buys , I bring my prices down	That 's the rule
+8	That 's the rule	That 's the market
+2	Mr. Siemienas is making a fortune	He has bought some trendy Western clothes , and a green Mercedes with an American flag in the window
+2	But the meat-processing machines he picked up are 50 years old	I do n't want expensive machines
+2	I do n't want expensive machines	If the situation changes , I 'll get stuck with them
+8	That 's politics	By taking power in a deal with the Peasant Party 's onetime Communist stooges , Solidarity has spooked the rural entrepreneur
+6	By taking power in a deal with the Peasant Party 's onetime Communist stooges , Solidarity has spooked the rural entrepreneur	Rural Solidarity objected , to no avail , when Solidarity leader Lech Walesa accepted the Peasants ' support
+1	We know how to get from capitalism to socialism	We do n't know how to get from socialism to capitalism
+5	Many people in Poland hope this government will break down	That 's what the naczelnik counts on
+1	He is our most dangerous enemy	Every time he sees me , he gets very nervous
+9	The farmer barges into the naczelnik 's office	A thin man in a gray suit looks up from a newspaper
+9	A thin man in a gray suit looks up from a newspaper	Mr. Niciporuk sits
+10	Mr. Niciporuk sits	Anatol Pawlowski 's leg begins jiggling beneath his desk
+2	Solidarity does n't care for the good of this region	They want to turn everything upside down in a week
+1	Solidarity does n't care for the good of this region	They want to turn everything upside down in a week
+6	They want to turn everything upside down in a week	Mr. Niciporuk here wants 60 acres used at the moment by a state farm
+1	Mr. Niciporuk here wants 60 acres used at the moment by a state farm	He ca n't guarantee that he can use it any better
+9	Big business , '' Mr. Pawlowski snorts in English	The farmer stands to go
+2	I care very much for this post	Eight years I 've had it
+5	Eight years I 've had it	A cultural center has been built , shops
+10	Eight years I 've had it	A cultural center has been built , shops
+1	A cultural center has been built , shops	Suddenly , I am not a comfortable man for Solidarity
+2	Suddenly , I am not a comfortable man for Solidarity	I have accomplished too much
+1	I have accomplished too much	They want to do more
+2	They want to do more	I wish them all the best
+8	and the issue forced a confrontation between the Appropriations Committee leadership and Budget Committee Chairman Leon Panetta , whose California district was at the center of the earthquake last week	Going to the well of the chamber , Mr. Panetta demanded the costs be fully counted
+1	Going to the well of the chamber , Mr. Panetta demanded the costs be fully counted	His prominent role put him in the awkward position of challenging the very committee members on whom his state will be most dependent in the months ahead
+5	We do not come to this House asking for any handout	We do not intend to hide these costs from the American people
+5	But the appropriations set in motion spending that adds to an already grim budget picture for fiscal 1991	Within the appropriations process , the situation is even more difficult
+6	and this urgency has contributed to the speed -- and , critics say , mistakes -- that have accompanied the package of disaster assistance	The hastily drafted measure could hurt California by requiring it to put up more matching funds for emergency highway assistance than otherwise would be required
+8	but both the White House and Congress appear most anxious to speed final approval before tonight 's deadline	Administration pressure discourages any effort to add to total funding
+1	and making severe cuts from Pentagon requests for installations abroad	An estimated $ 25.8 million is allocated to continue work in Oman
+6	Closer to home , the negotiators were more generous	An estimated $ 38.9 million was set aside for military installations in the home state of North Carolina Rep. W.G . Hefner , the House chairman
+5	but equally striking is the dominance of Alaska , Pennsylvania and West Virginia because of their power elsewhere in the appropriations process	Senate Appropriations Committee Chairman Robert Byrd ( D. , W.Va. ) even added report language listing $ 49.4 million in projects he wants in the budget next year
+5	This would be a second round of cuts by Mobil	Mobil 's latest move could signal the beginning of further reductions by other oil companies in their domestic oil-producing operations
+8	In yesterday 's third-quarter earnings report , the company alluded to a $ 40 million provision for restructuring costs involving U.S. exploration and production operations	The report says that `` the restructuring will take place over a two-year period and will principally involve the transfer and termination of employees in our U.S. operations
+8	that Mobil is reducing its U.S. work force because of declining U.S. output	domestic exploration and production operations had a $ 16 million loss in the third quarter
+5	Industrywide , oil production in this country fell by 500,000 barrels a day to 7.7 million barrels in the first eight months of this year	Daily output is expected to decline by at least another 500,000 barrels next year
+6	Some Mobil executives were dismayed that a reference to the cutbacks was included in the earnings report before workers were notified	One Mobil executive said that the $ 40 million charge related to the action indicates `` a substantial '' number of people will be involved
+8	that the $ 40 million charge related to the action indicates `` a substantial '' number of people will be involved	Some will likely be offered severance packages while others will be transferred to overseas operations
+2	Needless to say , he was talking about RICO	that the law currently holds too many incentives for abuse by prosecutors
+2	that Justice 's prosecutions of Drexel Burnham Lambert , Michael Milken and Princeton/Newport violated notions of fundamental fairness	Justice is attempting to avoid a replay of these tactics
+5	Justice is attempting to avoid a replay of these tactics	This amounts to an extraordinary repudiation of the tenure of New York mayoral candidate and former U.S. Attorney Rudolph Giuliani
+5	The new guidelines limit the pretrial forfeitures of assets of RICOed defendants and their investors , clients , bankers and others	This follows earlier new guidelines from the Tax Division prohibiting Princeton/Newport-like tax cases from masquerading as RICO cases
+2	that pre-trial freezing of assets is tantamount to a seizure of property without due process	prosecutors not to seek forfeitures if there are `` less intrusive '' alternatives , such as bonds , and in any case not to seek forfeitures `` disproportionate to the defendant 's crime
+2	These changes come a tad late for Princeton/Newport , the first RICOed securities firm	It was forced into liquidation before trial when investors yanked their funds after the government demanded a huge pre-trial asset forfeiture
+5	when investors yanked their funds after the government demanded a huge pre-trial asset forfeiture	Princeton/Newport investors , including McKinsey & Co. and the Harvard endowment , made the rational decision to withdraw their money
+1	Princeton/Newport investors , including McKinsey & Co. and the Harvard endowment , made the rational decision to withdraw their money	for the firm , the liquidation was sentence first , verdict later
+2	for the firm , the liquidation was sentence first , verdict later	Prosecutors wanted $ 23.8 million in forfeiture for alleged tax fraud of some $ 400,000
+8	for the firm , the liquidation was sentence first , verdict later	Prosecutors wanted $ 23.8 million in forfeiture for alleged tax fraud of some $ 400,000
+2	So two cheers for the new rules	Justice has finally recognized its employees ' abuses , thanks largely to the demands for reform by former U.S. attorney in Washington Joseph diGenova , who wants to salvage RICO for real criminals
+5	But prosecutorial guidelines are effective only if someone at Justice is willing and able to supervise hyperactive prosecutors	Judge Sentelle , of the appeals court in Washington , made this point at a Cato Institute conference last week in a remarkable speech titled , `` RICO : The Monster That Ate Jurisprudence
+8	Judge Sentelle , of the appeals court in Washington , made this point at a Cato Institute conference last week in a remarkable speech titled , `` RICO : The Monster That Ate Jurisprudence	He said ours is supposed to be `` a government of laws not of men , '' and yet RICO defenders `` tell us that we should rely on prosecutorial discretion to protect against overbreadth of RICO
+2	and yet RICO defenders `` tell us that we should rely on prosecutorial discretion to protect against overbreadth of RICO	No prosecutorial guidelines , observed or unobserved , limit civil RICO cases by plaintiffs for damages
+5	Justice should review these cases to see what other prosecutorial abuses may have occurred	We suspect that Justice will some day agree that only the complete repeal of RICO can guarantee an end to injustices in its name
+5	Teddy Z '' was boosted by favorable reviews and a network-wide promotional tie-in contest with K mart Corp	It was promoted on cable services , including MTV , Nick at Night and VH-1 , and premiered as the No . 22-rated show for the week
+8	But five weeks after the premiere , the series has floundered	In figures released yesterday by A.C. Nielsen Co. `` Teddy Z was in 37th place
+1	In figures released yesterday by A.C. Nielsen Co. `` Teddy Z was in 37th place	Worse , every week it suffers audience drop-off from `` Murphy Brown '' and viewership on CBS picks up again once `` Teddy Z '' is over and is followed by `` Designing Women
+2	The opening credits are being redone to make Teddy 's situation clear to viewers who have not been with us since the beginning	Those viewers find the show confusing
+8	that saw investors shifting assets from stocks to Treasury bonds	At its strongest , the Treasury 's benchmark 30-year bond rose more than a point , or more than $ 10 for each $ 1,000 face amount
+2	the combination of a second consecutive decline in monthly durable-goods orders and lackluster mid-October auto sales helped prop up the Treasury market	A slowing economy and the implication of lower inflation and interest rates tend to bolster bond prices
+2	reports like those yesterday help build the case for lower rates	Now bond investors are looking toward next week 's report from national purchasing managers and the government 's October employment report as potentially prompting the Fed to lower rates
+2	But as stock prices recovered some of the early losses , so did the U.S. currency	the dollar ended down only modestly
+8	Bond prices rose	The Treasury 's benchmark 30-year bond gained nearly half a point , or about $ 5 for each $ 1,000 face amount
+5	The Treasury 's benchmark 30-year bond gained nearly half a point , or about $ 5 for each $ 1,000 face amount	The yield on the issue slipped to 7.89 %
+8	The dollar retreated	In late New York trading the currency was quoted at 1.8355 marks and 141.45 yen , compared with 1.8470 marks and 141.90 yen Monday
+2	Lifestyles of the Rich and Famous '' may be visiting some new venues in the near future	Judge Robert ( `` Maximum Bob '' ) Potter sentenced Jim Bakker to 45 years in the big house yesterday , while a Beverly Hills judge tucked away Zsa Zsa Gabor for three days , plus 120 hours of work with homeless women
+5	Miss Gabor recanted her earlier-expressed fear of jailhouse lesbians	Mr. Bakker said he was guilty of sin but not fraud
+2	When the good fairy assigned to Slovakia hovered over the cradle of Edita Gruberova many years ago in Bratislava , she sprinkled her with high E flats , sparkling Ds , clean trills , and coloratura ornaments silvery as magic dust	Maybe she could drop by at the Metropolitan Opera and bring along what she forgot , a little charm , a few smidgins of thespian skills and a nice wig
+6	Cast as Violetta Valery in a new production of Verdi 's `` La Traviata , '' Ms. Gruberova last week did many things nicely and others not so well	It is n't every day that we hear a Violetta who can sing the first act 's high-flying music with all the little notes perfectly pitched and neatly stitched together
+5	It is n't every day that we hear a Violetta who can sing the first act 's high-flying music with all the little notes perfectly pitched and neatly stitched together	Never once did she gasp for air or mop her brow
+8	Never once did she gasp for air or mop her brow	She was as cool as a cucumber
+2	But as you may know , things are not going well for Violetta	There are times when she must show a little emotion
+2	There are times when she must show a little emotion	She has TB , after all , and a weak-kneed lover
+6	Worse , her walls move all the time -- at least in this production	Just when Ms. Gruberova sat down away from her guests to cough in private , her salon began sliding around the stage
+5	Just when Ms. Gruberova sat down away from her guests to cough in private , her salon began sliding around the stage	her country hideaway also has a very active set of drapes
+5	you wanted to caution her as the sets started to roll around once more	This is the most moving `` Traviata '' I 've ever seen
+2	They have a life of their own and can be counted on to look good and perform whenever a cast is n't up to either	If a strike ever hits the Met , the company can still sell tickets to his `` Boheme '' and `` Turandot
+6	If a strike ever hits the Met , the company can still sell tickets to his `` Boheme '' and `` Turandot	Last week 's discerning audience gave a bigger hand to a greenhouse than to the tenor Neil Shicoff
+5	Last week 's discerning audience gave a bigger hand to a greenhouse than to the tenor Neil Shicoff	Inexplicably costumed as a rabbinical student , tottering around on lifts , Mr. Shicoff hardly seemed the fellow to catch a fancy cocotte 's eye
+2	I wish he could wear lifts in his voice	Not nearly in his best form , the tenor made dullish sounds along with his usual clumsy hand gestures
+5	and its scenic ideas echo the movie he made with Placido Domingo and Teresa Stratas	Decades earlier , Maria Callas sang the Dallas staging that introduced the flashback idea
+8	that introduced the flashback idea	In an invention that drives Verdi purists bananas , Violetta lies dying in bed during the prelude , rising deliriously when then she remembers the great parties she used to throw
+2	In an invention that drives Verdi purists bananas , Violetta lies dying in bed during the prelude , rising deliriously when then she remembers the great parties she used to throw	The entire opera is her dream
+1	for a change there actually was a conductor in the pit whom we wanted to hear , Carlos Kleiber , trying to make memorable music while we all waited for the bed lump to stir into song	Once she did so , the big-souled German maestro with the shaky nerves who so often cancels offered a limpid , flowing performance that in its unswagged and unswaggering approach was totally at odds with the staging
+6	who as Germont seemed fairly desperate trying to inject an Italianate lilt into his heavy , teutonic baritone	Di Provenza '' was n't much of an advertisement for sunny , southern France
+2	Di Provenza '' was n't much of an advertisement for sunny , southern France	Perhaps Mr. Kleiber could let him substitute one of the songs about dead children and dark nights from Mahler 's `` Kindertotenlieder
+2	Speaking of dark nights , the Met 's next-door neighbor , the New York City Opera , has canceled its season after failing to reach a settlement with its musicians , who wanted pay parity with the the Chicago Lyric and San Francisco Opera orchestras	Well , they can now go and audition there
+2	Good luck	Common sense suggests that people who play for a company that charges about half what those houses do for a ticket are not in the same market
+2	The cancellation bodes poorly for a company already beset with an identity crisis exacerbated by the retirement of general director Beverly Sills and the amazing appointment of Christopher Keene as her successor after his years of feckless toiling in the pit	it is nearly impossible to recapture subscribers once they have had time to ponder their entertainment choices
+8	a strange piece written by 13 different Italian composers to honor Rossini after his death in 1868	Each of them contributed a section at the behest of Verdi , who was nearly driven to his own early grave by the troublesome arrangements
+0	Each of them contributed a section at the behest of Verdi , who was nearly driven to his own early grave by the troublesome arrangements	For all that , the piece landed unperformed in a dusty archive after Bologna refused to supply a chorus and orchestra
+1	We know Verdi 's own contribution was mighty impressive since the operatic `` Libera me '' was reworked for the Manzoni Requiem , of which he wrote every note himself having learned his lesson	The surprising discovery of the evening at Fisher was the high standard achieved by some of his now-obscure colleagues , notably Raimondo Boucheron
+8	The surprising discovery of the evening at Fisher was the high standard achieved by some of his now-obscure colleagues , notably Raimondo Boucheron	His melodious `` Confutatis '' was smoothly sung by bass Brian Matthews
+2	and even better , the Czech soprano Gabriela Benackova	She was in her most radiant , expressive voice
+2	She was in her most radiant , expressive voice	Maybe she could step across the plaza to the Met and help out her Czech compatriot by singing the slow parts of `` Traviata
+8	but it made its mark	It awarded the largest cash prize of any film festival to young and first-time film makers
+8	There are drawbacks	No one makes deals . . . and most of the films have been seen before at other festivals
+2	that many small investors in Belgium store securities privately , in some cases to avoid paying high inheritance taxes	The law could redound to the advantage of brokers and banks , who incur high administrative costs to deliver securities to investors
+8	Japan is considering giving aid to Hungary and Poland to support their recent political reforms	This is the first time , if we decide to do so , for Japan to extend aid of this kind to Eastern European countries
+5	This is the first time , if we decide to do so , for Japan to extend aid of this kind to Eastern European countries , '' the spokesman said	He said Prime Minister Toshiki Kaifu also is studying the possibility of a visit to the two Eastern bloc nations and to Western Europe next January
+2	Drugs were a major issue in two days of talks between French President Francois Mitterrand and Spanish Prime Minister Felipe Gonzalez	I demand the utmost severity in the fight against drug traffickers
+8	Drugs were a major issue in two days of talks between French President Francois Mitterrand and Spanish Prime Minister Felipe Gonzalez	I demand the utmost severity in the fight against drug traffickers
+2	I demand the utmost severity in the fight against drug traffickers	Banks must open their books
+8	I demand the utmost severity in the fight against drug traffickers	Banks must open their books
+9	Three Soviet government officials will visit Tehran next month for talks	Under an agreement signed last June , the Soviets will help Iran in oil exploration and other areas in return for exports of Iranian natural gas
+8	Toto Co. , a Japanese ceramics maker , has developed a toilet that can check the user 's health	the toilet not only tests blood pressure , pulse and urine , it also stores the data for up to 130 days
+1	which will go on the market in about two years time	It will be very expensive
+8	It will be very expensive	The price can not be less than $ 7,000
+2	Mr. Castaneda 's office will reportedly issue warrants during the next six months for the arrest of another 10,000 federal employees	Those employees are suspected of illegally gaining an estimated $ 376.8 million
+8	Mr. Castaneda 's office will reportedly issue warrants during the next six months for the arrest of another 10,000 federal employees	Those employees are suspected of illegally gaining an estimated $ 376.8 million
+5	Those employees are suspected of illegally gaining an estimated $ 376.8 million	that federal agents hope to recover at least half that amount
+8	The United Nations , which is distributing farm tools to returning refugees in Namibia , is rethinking a plan to hand out machetes because of the tense political climate during preparations for independence from South Africa	The decision to distribute machetes at this time , which could be used as weapons , is under review
+8	The company made its 1990 projection in announcing improved net income for the third quarter	Cray said it earned $ 30.6 million , or $ 1.04 a share , up 35 % from $ 22.6 million , or 73 cents a share , a year ago
+5	Cray said it earned $ 30.6 million , or $ 1.04 a share , up 35 % from $ 22.6 million , or 73 cents a share , a year ago	Revenue gained 45 % to $ 210.2 million from $ 145.2 million
+5	For the nine months , earnings totaled $ 36.6 million , or $ 1.24 a share , down 46 % from $ 68.1 million , or $ 2.19 a share , a year earlier	Revenue was $ 454.6 million , a 6.9 % gain from $ 425.4 million
+9	Cray made its announcement after the stock market closed	In New York Stock Exchange composite trading yesterday , Cray closed down $ 1.125 at $ 34.25
+8	its order backlog at Sept. 30 was $ 315 million , down $ 25 million from June 30	the company `` did well in the quarter as far as revenues and earnings are concerned , and not quite as well in terms of signing orders
+8	that the company expects `` strong '' operating profit for the year , `` but at a level significantly lower than last year	1989 's net income could be 11 % to 13 % of revenue , which , assuming current expectations , would be 40 % to 45 % below 1988 's level
+1	1989 's net income could be 11 % to 13 % of revenue	Last year , Cray earned $ 156.6 million , or $ 4.99 a share , on revenue of $ 756.3 million
+2	Next year `` looks dismal	Noting that Cray does n't have a low-end supercomputer to compete with the likes of Convex Computer Corp. and International Business Machines Corp. such a machine would be necessary `` to get things back on line here
+5	such a machine would be necessary `` to get things back on line here	it will decide on whether to build such a machine before year end
+5	Net for the New Brunswick , N.J. , maker of health-care products climbed to $ 265 million , or 80 cents a share , from $ 240 million , or 71 cents a share , in the year-earlier period	Sales rose to $ 2.45 billion from $ 2.2 billion
+5	substantial sales growth '' for the recently introduced Acuvue disposable contact lens and Hismanal , a once-a-day antihistamine	Eprex , used by dialysis patients who are anemic , and Prepulsid , a gastro-intestinal drug , did well overseas
+2	But domestic consumer sales slipped 1.2 % for the quarter , to $ 490 million from $ 496 million	softness in the retail health and beauty aids category , `` as well as the intense competition in the company 's sanitary protection product line
+1	that a `` tough tax-rate comparison '' may slow the company 's earnings growth for the current quarter	For last year 's fourth quarter , the company 's tax rate was less than 20 %
+5	Six top executives at the New York-based company sold shares in August and September	Four of those insiders sold more than half their holdings
+9	Last March , this newspaper reported on widespread allegations that the company misled many customers into purchasing more credit-data services than needed	In June , the company agreed to settle for $ 18 million several lawsuits related to its sales practices , without admitting or denying the charges
+5	In June , the company agreed to settle for $ 18 million several lawsuits related to its sales practices , without admitting or denying the charges	An investigation by U.S . Postal inspectors is continuing
+1	Dun & Bradstreet 's stock price began its recent spiral downward last Wednesday , when the company reported third-quarter results	Net income rose to 83 cents a share from 72 cents a share the year-earlier period
+8	Last Thursday , Merrill Lynch securities analyst Peter Falco downgraded his investment rating on the firm , according to Dow Jones Professional Investors Report , citing a slowdown in the credit-reporting business	He cut his rating to a short-term hold from above-average performer
+1	He cut his rating to a short-term hold from above-average performer and reduced his 1990 earnings estimate	Mr. Falco continues to rank the stock a longterm buy
+2	The stock received another blow on Friday , when Goldman Sachs analyst Eric Philo advised that investors with short-term horizons should avoid Dun & Bradstreet stock because it is unlikely to outperform the market	The stock fell 75 cents
+1	But previous sales have often been sales of shares purchased through the exercise of stock options and sold six months later , as soon as allowed	The most recent sales do n't appear to be option-related
+2	The stock split four-for-one on Oct. 10	Mr . Miles 's newly purchased shares are now worth $ 1,068,000 , based on Philip Morris 's closing price of $ 44.50
+8	Two directors of Pegasus Gold Inc. , a Spokane , Wash. , precious-metals mining firm , sold most of their holdings in the company Aug. 31	John J. Crabb sold 4,500 shares for $ 11.13 each , leaving himself with a stake of 500 shares
+2	John J. Crabb sold 4,500 shares for $ 11.13 each	He received $ 50,085
+7	John J. Crabb sold 4,500 shares for $ 11.13 each , leaving himself with a stake of 500 shares.He received $ 50,085	Peter Kutney sold 5,000 shares , all of his holdings , for $ 11.38 a share , or $ 56,900
+5	On Wall Street , Merrill Lynch & Co. analyst Daniel A. Roling rates the stock `` neutral '' and Drexel Burnham Lambert Inc. lists it as a `` buy	Pegasus Gold `` has been on a lot of recommended lists as a junior growth company stepping into the big leagues
+2	Pegasus Gold `` has been on a lot of recommended lists as a junior growth company stepping into the big leagues	It 's a good company , and growing
+2	It 's a good company , and growing	there 's nothing that would warrant that it be sold
+2	Now , only God exists as a matter of absolute necessity	it is built into His nature
+2	But since the time of Darwin , we humans could at least claim a sort of natural necessity for the existence of our species	Are n't we , after all , the inevitable culmination of that stately pageant called evolution
+8	His credentials are excellent for the task	Star lecturer at Harvard , author of numerous popular books on science , and scourge of the creationist lobby , Mr. Gould is perhaps the world 's most eminent evolutionary theorist
+8	Yet he puts quite a twist on the old story handed down from Darwin	For him , natural history is anything but a gradual , predictable march from primordial slime to human consciousness
+1	For him , natural history is anything but a gradual , predictable march from primordial slime to human consciousness	it is a careening , chaotic affair in which the emergence of a featherless biped was a one-in-a-million shot
+8	In `` Wonderful Life : The Burgess Shale and the Nature of History '' ( Norton , 326 pages , $ 19.95 ) , Mr. Gould makes his case for `` the awesome improbability of human evolution	The argument turns on the discovery in 1909 of an amazing fossil quarry high in the Canadian Rockies called the Burgess Shale
+2	Such an embarrassment of riches was inconceivable to the man who discovered the Burgess Shale , one Charles Doolittle Walcott	The received Darwinian wisdom of the day said that animals living so long ago must be simple in design , limited in scope and ancestral to contemporary species
+8	It was not until the early 1970s that Cambridge Prof.Harry Whittington and two sharp graduate students began to publish a reinterpretation of the Burgess Shale	By making clever inferences about how the squashed and distorted fossil remains corresponded to three-dimensional structures , this trio was able to piece together a series of wondrous beasties quite unlike anything currently on the planet
+5	a series of wondrous beasties quite unlike anything currently on the planet	One was so fantastic in appearance , it was dubbed Hallucigenia
+1	Would that Mr. Gould 's minute descriptions of these creatures was always so colorful	A good deal of the book is boring , particularly the endless allusions to high and pop culture and the frequent jokes festooning the text
+5	A good deal of the book is boring , particularly the endless allusions to high and pop culture and the frequent jokes festooning the text	These turns do not provide sufficient relief from sentences like , `` Most modern chelicerates have six uniramous appendages on the prosoma
+8	Interest picks up , though , when Mr. Gould gets around to discussing the meaning of the Burgess oddities for the theory of evolution	Not long after the appearance of life , evidently , there was an explosive proliferation in the number of animal designs seen on the earth
+2	Consequently , the winnowing process was like a lottery `` in which each group { held } a ticket unrelated to its anatomical virtues	So much for survival of the fittest
+6	So much , too , for the notion that we humans triumphed in the Darwinian struggle by evolving big brains	Our mammalian forerunners lucked out through the extraterrestrial impact that did in the dinosaurs because they were small , not smart
+8	If anyone has difficulty imagining a world in which history went merrily on without us , Mr. Gould sketches several	In one , birds are the dominant carnivores
+7	In one , birds are the dominant carnivores	in another the seas abound with `` little penises
+2	Mr. Gould finds this oddly exhilarating	like an existentialist of old , he views our contingency as `` a source of both freedom and consequent moral responsibility
+2	the universe is a big place , and given the right conditions , sympathetic to creating some form of life	Surely at some other cosmic address a Gouldoid creature would have risen out of the ooze to explain why , paleontologically speaking , `` it is , indeed , a wonderful life
+2	Use of the Racketeer Influenced and Corrupt Organizations law against white-collar defendants , as opposed to alleged organized-crime figures , has come under attack from some defense lawyers and legal scholars	that the law unfairly strips defendants of assets before a jury determines they have committed a crime and that aggressive use of the forfeiture provisions can ruin corporate defendants or force them into unfavorable plea bargains
+8	Use of the Racketeer Influenced and Corrupt Organizations law against white-collar defendants , as opposed to alleged organized-crime figures , has come under attack from some defense lawyers and legal scholars	that the law unfairly strips defendants of assets before a jury determines they have committed a crime and that aggressive use of the forfeiture provisions can ruin corporate defendants or force them into unfavorable plea bargains
+2	Mr. Runkel declined to speculate on whether the guidelines would curb racketeering prosecutions against corporate defendants	The impact , if there is any , will be impossible to judge ahead of time because the decision whether to use { racketeering charges } is made in individual cases '' by Justice Department officials in Washington
+9	The talk of a sales tax rise follows a rebuff from Congress on the question of how much the federal government is willing to spend to aid in California 's earthquake relief efforts	The state had sought as much as $ 4.1 billion in relief
+5	That leaves the state roughly $ 2 billion to $ 4 billion short	A sales tax increase appears to be the fastest and easiest to raise funds in a hurry
+6	A sales tax increase appears to be the fastest and easiest to raise funds in a hurry	According to the state department of finance , a one-penny increase in the state 's six-cent per dollar sales tax could raise $ 3 billion
+6	But observers expect broad support	If there 's an emergency and there are n't sufficient funds from elsewhere , I think the attitude will be supportive , '' said Kirk West , president of the California Chamber of Commerce
+2	But others think property owners ought to pay a higher portion of the state 's earthquake relief tab	Since the late 1970s , California property owners have benefited from a tax rollback as a result of a state ballot initiative known as Proposition 13
+6	Not everyone is convinced the state must raise new revenue to meet its earthquake needs	It 's possible , though not probable , '' that the state could get by with its existing resources and federal help , said Quentin Kopp , chairman of the state senate 's transportation committee
+1	The insured bonds are rated triple-A by Moody 's and S & P	The uninsured subordinate lien bonds are n't rated , according to the lead underwriter
+2	Red tape is the bugaboo of small business	Ironically , the person who wants to run his or her own business is probably the active , results-oriented sort most likely to hate meeting the rules and record-keeping demands of federal , state and local regulators
+8	There is hope of change	Last week , Sen. Malcolm Wallop ( R. , Wyo . ) held hearings on a bill to strengthen an existing law designed to reduce regulatory hassles for small businesses
+2	the red tape they most love to hate is red tape they would also hate to lose	that much of the government meddling that torments them is essential to the public good , and even to their own businesses
+6	Rules that set standards for products or govern business behavior , generally the best regarded form of red tape , `` create a level playing field and keep unscrupulous competitors away	the Federal Communications Commission and its standards for telecommunications equipment : `` They monitor product quality and prevent junk from flooding the market
+6	Some gripes about red tape are predictable	Architects complain about a host of building regulations , auto leasing companies about car insurance rules
+2	Architects complain about a host of building regulations	Determining when handicapped access is required can be a nightmare for architects
+8	Architects complain about a host of building regulations	Determining when handicapped access is required can be a nightmare for architects
+5	Determining when handicapped access is required can be a nightmare for architects	There is such a maze of federal , state and local codes that `` building inspectors are backing away from interpreting them
+8	Taxi , leasing and other companies that maintain fleets of vehicles devote substantial resources to complying with state insurance laws and a host of agencies	It 's very costly and time-consuming
+6	It 's very costly and time-consuming	One senior executive at his firm spends nearly 20 % of his time on insurance
+8	Other forms of red tape are more pervasive	The most onerous is the record-keeping and filing required by tax authorities
+5	The most onerous , many entrepreneurs say , is the record-keeping and filing required by tax authorities	Complying with environmental and workplace regulations runs a close second
+8	Next to medical insurance , `` costs of compliance '' are the fastest-growing expense at Impco Inc. , a Providence , R.I. , chemical company	spending on regulatory paper work and the people to do it -- mostly to comply with federal , state and local environmental laws -- will rise almost 30 % this year to $ 100,000
+5	spending on regulatory paper work and the people to do it -- mostly to comply with federal , state and local environmental laws -- will rise almost 30 % this year to $ 100,000	that spending on environmental red tape amounts to between 6.5 % and 7.5 % of Impco 's total operating expenses
+5	Eastern Reproduction Corp. , a Waltham , Mass. , maker of thin metal precision parts , must report to five federal and state agencies as well as to local fire , police , hospital and plumbing authorities	One state environmental regulator returned a report because `` it was n't heavy enough , it could n't have been correct
+1	Revising employee manuals on pensions , health care and other subjects costs over $ 25,000 a year for Bert Giguiere , president of Professional Agricultural Management Inc. , a Fresno , Calif. , provider of business services to farmers	An employer leaves itself open to a great deal of liability if its employee manuals do n't reflect the most recent laws
+2	But the ever-changing laws are usually so complicated and confusing that `` you need professionals to help you	you ca n't do it yourself
+2	Complying with these is enough to make business owners look forward to their own pension days	Yearly changes in federal benefit laws force small businesses to repeatedly re-evaluate and redesign existing plans
+6	Yearly changes in federal benefit laws force small businesses to repeatedly re-evaluate and redesign existing plans	she has had to overhaul her pension and profit-sharing plans three times in the past three years
+5	Alice Fixx , who runs her own public-relations concern in New York , says she has had to overhaul her pension and profit-sharing plans three times in the past three years	It does n't increase benefits , but it 's costly and time-consuming , '' Ms. Fixx says
+8	but it 's costly and time-consuming	Compliance added 15 % to 20 % to her accounting bill last year
+8	but the exemption comes at a price of exhaustive records and rigorous reviews	To justify their exempt status and avoid penalties , these businesses must show once a year that each and every transaction on which they did n't pay sales tax was a legitimate business expense
+2	To justify their exempt status and avoid penalties , these businesses must show once a year that each and every transaction on which they did n't pay sales tax was a legitimate business expense	You need one person to just take care of sales tax
+2	When the Trinity Repertory Theater named Anne Bogart its artistic director last spring , the nation 's theatrical cognoscenti arched a collective eyebrow	Ms. Bogart , an acclaimed creator of deconstructed dramatic collages that tear into such sacred texts as Rodgers and Hammerstein 's `` South Pacific , '' is decidedly downtown
+8	She held her fire with her first production at the Trinity earlier this season	It was a predictable revival of her prize-winning off-Broadway anthology of Bertolt Brecht 's theoretical writings , called `` No Plays , No Poetry
+5	Now , with the opening of Maxim Gorky 's bourgeois-bashing `` Summerfolk , '' Ms. Bogart has laid her cards on the table	Hers is a hand that will test the mettle of her audiences
+5	And `` Summerfolk is a lawn party of Russian yuppies engaged in an exhausting ideological fight to the finish between the allrightniks and the reformers	Along the way there also are lots of romantic dalliances
+5	Wisely Ms. Bogart has kept Gorky 's time and place intact	Despite the absence of samovars ( and a tendency to turn the furniture upside down ) , the production is rich in Russian ennui voiced by languorous folk sporting beige linen and rumpled cotton , with boaters and fishing poles aplenty
+2	But beyond this decorative nod to tradition , Ms. Bogart and company head off in a stylistic direction that all but transforms Gorky 's naturalistic drama into something akin to , well , farce	The director 's attempt to force some Brechtian distance between her actors and their characters frequently backfires with performances that are unduly mannered
+6	The director 's attempt to force some Brechtian distance between her actors and their characters frequently backfires with performances that are unduly mannered	Not only do the actors stand outside their characters and make it clear they are at odds with them , but they often literally stand on their heads
+5	Like Peter Sellars , Ms. Bogart manipulates her actors as if they were rag dolls	There are moments in this `` Summerfolk '' when the characters populating the vast multilevel country house spout philosophic bon mots with the self-conscious rat-a-tat-tat pacing of `` Laugh In
+6	There are moments in this `` Summerfolk '' when the characters populating the vast multilevel country house spout philosophic bon mots with the self-conscious rat-a-tat-tat pacing of `` Laugh In	Talk hurts from where it spurts , '' one of them says
+5	Talk hurts from where it spurts , '' one of them says	The clash of ideologies survives this treatment , but the nuance and richness of Gorky 's individual characters have vanished in the scuffle
+5	The clash of ideologies survives this treatment , but the nuance and richness of Gorky 's individual characters have vanished in the scuffle	As for the humor that Gorky 's text provides , when repainted in such broad strokes ( particularly by the lesser members of the ensemble ) it looks and sounds forced
+1	that her fondest artistic wish was to find a way to play `` Somewhere Over the Rainbow '' so that the song 's `` original beauty comes through	The danger that Ms. Bogart seems to be courting here is one of obfuscation rather than rejuvenation
+6	Ms. Bogart 's cast is part and parcel of the problem	Ed Shea and Barbara Orson never find a real reason for their love affair as the foolish , idealistic young Vass and the tirelessly humanitarian doctor Maria Lvovna
+7	Ed Shea and Barbara Orson never find a real reason for their love affair as the foolish , idealistic young Vass and the tirelessly humanitarian doctor Maria Lvovna	Cynthia Strickland as the long-suffering Varvara is a tiresome whiner , not the inspirational counterrevolutionary Gorky intended
+2	Cynthia Strickland as the long-suffering Varvara is a tiresome whiner , not the inspirational counterrevolutionary Gorky intended	Better to look in the corners for performances that inspire or amuse
+6	Better to look in the corners for performances that inspire or amuse	Janice Duclos , in addition to possessing one of the evening 's more impressive vocal instruments , brings an unsuspected comedic touch to her role of Olga , everybody 's favorite mom
+7	Janice Duclos , in addition to possessing one of the evening 's more impressive vocal instruments , brings an unsuspected comedic touch to her role of Olga , everybody 's favorite mom	Marni Rice plays the maid with so much edge as to steal her two scenes
+10	On July 18 , 1974 , International Nickle of Canada -- advised by Morgan -- offered $ 28 a share , equal to $ 157 million , for ESB , a Philadelphia battery maker	it was given only a three-hour advance warning on a `` take it or leave it '' basis from Inco , as the Toronto company is called
+8	but a whirlwind bidding match ensued	Within a few days in July , Inco raised its bid to $ 36 and United matched it
+9	Within a few days in July , Inco raised its bid to $ 36 and United matched it	On a single day Inco lifted its offer to $ 38 and then to $ 41 , equal to $ 225.5 million
+5	On a single day Inco lifted its offer to $ 38 and then to $ 41 , equal to $ 225.5 million	United met the $ 38 but then withdrew
+9	ESB on July 29 accepted the Inco offer and the brief battle was over	The new gritty game became a money maker for Wall Street 's once austere old-name houses
+2	The new gritty game became a money maker for Wall Street 's once austere old-name houses	Inco paid Morgan an advisory fee of about $ 250,000 , a paltry figure by today 's measures
+1	Inco paid Morgan an advisory fee of about $ 250,000 , a paltry figure by today 's measures	Early this year Morgan and three other investment houses each received $ 25 million in advisory fees from Kohlberg Kravis & Roberts in its $ 25 billion friendly buy-out of RJR Nabisco
+10	HomeFed had been one of the handful of large West Coast thrifts that in recent quarters had counteracted interest-rate problems dogging the industry by keeping a lid on problem assets and lending heavily into the furious California housing market	Analysts had been projecting fully diluted earnings in the third quarter in the range of about $ 1.30 a share
+8	Meanwhile , non-performing assets rose to $ 593 million from $ 518.7 million	Some $ 380 million of the troubled assets is repossessed real estate , a 55.6 % surge from the $ 244.2 million of repossesed property HomeFed held a year ago
+5	Some $ 380 million of the troubled assets is repossessed real estate , a 55.6 % surge from the $ 244.2 million of repossesed property HomeFed held a year ago	HomeFed has $ 17.9 billion of assets
+5	most of the troubled assets are apartment complexes , shopping malls and other commercial real estate	about half are in California , with the rest scattered across the country
+5	about half are in California , with the rest scattered across the country	sales of such properties were slower than anticipated in the third quarter , but it expects sales to pick up in the rest of the year
+5	it purposely curbed loan originations in the quarter because of uncertainty over the new capital requirements and regulations that will emerge from negotiations over implementing the government 's massive thrift bailout bill	its real-estate operations earned a record $ 21.7 million , more than double year-earlier real estate profit of $ 9 million
+5	earnings also were nicked in the quarter by a $ 4 million provision for losses associated with its previously reported plan to liquidate a real-estate franchise network	For the nine months , HomeFed earned $ 82.5 million , or $ 3.52 a fully diluted share , a 4.3 % increase from year-earlier net income of $ 79.1 million , or $ 3.43 a fully diluted share
+5	The average yield on six-month CDs of $ 50,000 and less slipped to 7.96 % from 8.00 % , according to Banxquote Money Markets , an information service based here	On one-year CDs of $ 50,000 and less , the average slid to 8.02 % from 8.06 %
+1	Because of shrinkage in the economy , rates can be expected to decline over a one-year horizon	It 's unclear how much rates can fall and how soon
+5	The average yield on small-denomination three-month CDs moved up two-hundredths of a percentage point in the latest week to 7.85 %	Long-term CDs declined just a fraction
+5	Long-term CDs declined just a fraction	The average yield on both two-year CDs and five-year CDs was 7.98 %
+8	Only CDs sold by major brokerage firms posted significant increases in average yields in the latest week	The average yield on six-month broker-sold CDs rose to 8.29 % from 8.05 % and on one-year CDs the average yield rose to 8.30 % from 8.09 %
+2	The average yield on six-month broker-sold CDs rose to 8.29 % from 8.05 % and on one-year CDs the average yield rose to 8.30 % from 8.09 %	The brokerage firms , which negotiate rates with the banks and thrifts whose CDs they sell , generally feel they have to offer clients more than they can get on T-bills or from banks and thrifts directly
+5	So-called jumbo CDs , typically in denominations of $ 90,000 and up , also usually follow T-bills and interest rate trends in general more than those aimed at small investors	Some jumbos posted fractional changes in average yields this week , both up and down
+8	Some jumbos posted fractional changes in average yields this week , both up and down	The average yield on threemonth jumbos rose to 8.00 % from 7.96 % , while the two-year average fell by the same amount to 7.89 %
+1	The average yield on threemonth jumbos rose to 8.00 % from 7.96 % , while the two-year average fell by the same amount to 7.89 %	Six-month and oneyear yields were unchanged , on average
+2	The ( CD ) market is unsettled right now	It 's very easily influenced by changes in the stock market and the junk bond market
+5	At Chase Manhattan Bank in New York , for example , the yield on a small denomination six-month CD fell about a quarter of a percentage point to 8.06 %	In California , Bank of America dropped the yield on both six-month and one-year `` savings '' CDs to 8.33 % from 8.61 %
+9	In response to questions after the annual meeting , Mr. Miller said the company is no longer looking for an equity investor	During the summer , Wang executives had said they might seek outside investment
+5	For the nine months profit fell 49 % to $ 23.5 million from $ 46 million in the year-earlier quarter , which included divestiture-related gains of $ 50.6 million	Sales increased 5.5 % to $ 9.81 billion from $ 9.3 billion
+9	At first UAL did n't open because of an order imbalance	When it did a half-hour into the session , it was priced at $ 150 a share , down more than $ 28 from Monday 's close
+9	When it did a half-hour into the session , it was priced at $ 150 a share , down more than $ 28 from Monday 's close	It sank further to as low as $ 145
+5	Options traders , arbitrage traders -- everyone	There were some pretty bad losses in the stock
+2	about the unraveling of UAL takeover plans on the train into work yesterday morning	it would be a while longer before UAL resumed trading like a regular airline stock after months of gyrations
+2	The news told them it would be a while longer before UAL resumed trading like a regular airline stock after months of gyrations	When Mr. Jacobson walked into the office at 7:30 a.m. EDT , he announced : `` OK , buckle up
+2	and immediately spotted trouble	Already entered in the Big Board 's computers and transmitted to their post were sell orders for 65,000 UAL shares
+8	and immediately spotted trouble	Already entered in the Big Board 's computers and transmitted to their post were sell orders for 65,000 UAL shares
+8	The UAL news had already caused a selling furor in the so-called third market	UAL , which closed on the Big Board Monday at $ 178.375 a share , traded in the third market afterward as low as $ 158 a share
+5	UAL , which closed on the Big Board Monday at $ 178.375 a share , traded in the third market afterward as low as $ 158 a share	There were rumors of $ 148-a-share trades
+9	And at 9:15 , they posted a $ 135 to $ 155 `` first indication	That range was quickly narrowed to $ 145 to $ 155
+8	When UAL finally opened a half hour late , some 400,000 shares traded at $ 150	There was `` selling pressure from everyone
+8	This month 's Friday-the-13th market plunge spurred by UAL news was n't as bad for the Jacobson specialists as yesterday 's action	On that earlier day , the stock 's trading was halted at a critical time so the specialists could catch their breath
+1	On that earlier day , the stock 's trading was halted at a critical time so the specialists could catch their breath	Not yesterday
+2	But yesterday , the heavy trading action eventually consumed not only Messrs.Jacobson and Bates but four other Jacobson partners	About 30 floor traders crammed near the UAL post most of the day
+5	About 30 floor traders crammed near the UAL post most of the day , and probably hundreds more came and went -- a `` seething mass , '' as one trader described it	The 4.9 million-share volume flowing through the Jacobson specialist operation was about five times normal for the stock
+9	The Bear Stearns order that marked the late-day turnaround caused a `` massive buying effort '' as UAL jumped $ 20 a share to $ 170 in the last half hour	With 15 seconds of trading to go , Mr. Jacobson announced to the trading mob : `` We 're going to trade one price on the bell
+1	Big Board traders praised the Jacobson specialists for getting through yesterday without a trading halt	In Chicago , a UAL spokesman , `` by way of policy , '' declined to comment on the company 's stock or the specialists ' performance
+2	the Jacobson specialists made no predictions about how trading might go today	It all starts all over again '' today
+8	the Jacobson specialists made no predictions about how trading might go today	It all starts all over again '' today
+6	investment by businesses is falling off	Of 1,224 companies surveyed , 31 % expect to cut spending on plant equipment and machinery , while only 28 % plan to spend more
+5	As a result , Prime Minister Margaret Thatcher 's government is n't currently expected to ease interest rates before next spring , if then	Chancellor of the Exchequer Nigel Lawson views the high rates as his chief weapon against inflation
+2	which was ignited by tax cuts and loose credit policies in 1986 and 1987	Officials fear that any loosening this year could rekindle inflation or further weaken the pound against other major currencies
+5	Mr. Lawson said inflation `` remains the greatest threat to our economic well-being '' and promised to take `` whatever steps are needed '' to choke it off	The latest government figures said retail prices in September were up 7.6 % from a year earlier
+6	Many economists have started predicting a mild recession next year	David Owen , U.K. economist with Kleinwort Benson Group , reduced his growth forecast for 1990 to 0.7 % from 1.2 %
+2	Still , Britain 's current slump is a cause for concern here	Compared with the major economies on the Continent , the U.K. faces both higher inflation and lower growth in the next several months
+1	But while September exports rose to # 8.43 billion , imports shot up to # 10.37 billion	The resulting # 1.9 billion merchandise trade deficit was partly offset by an assumed surplus of # 300 million in so-called invisible items
+8	Despite the narrowing of the monthly trade gap , economists expect the current account deficit for all of 1989 to swell to about # 20 billion from # 14.6 billion in 1988	the big deficit reflects the slipping competitive position of British industry
+2	the big deficit reflects the slipping competitive position of British industry	When the country gets wealthier , we tend to buy high-quality imports
+8	the big deficit reflects the slipping competitive position of British industry	When the country gets wealthier , we tend to buy high-quality imports
+2	and he is using the money to help buy a 45-acre horse farm	Just imagine how exciting that would be if that 's your horse
+2	that this is n't a game for anyone with a weak stomach or wallet	It 's a big-risk business
+8	that this is n't a game for anyone with a weak stomach or wallet	It 's a big-risk business
+8	It 's a big-risk business	You have to go into it firmly believing that it 's the kind of investment where you can lose everything
+6	And many have done just that	Consider Spendthrift Farm , a prominent Lexington horse farm that went public in 1983 but hit hard times and filed for bankruptcy-court protection last year
+9	that went public in 1983 but hit hard times and filed for bankruptcy-court protection last year	A group of investors recently bought the remaining assets of Spendthrift
+8	One big problem has been the thoroughbred racehorse market	From 1974 to 1984 , prices for the best yearlings at the summer sales rose 918 % to an average of $ 544,681
+1	From 1974 to 1984 , prices for the best yearlings at the summer sales rose 918 % to an average of $ 544,681	Since then , prices have slumped , to an average of $ 395,374 this summer
+1	But that 's for the best horses , with most selling for much less -- as little as $ 100 for some pedestrian thoroughbreds	Even while they move outside their traditional tony circle , racehorse owners still try to capitalize on the elan of the sport
+6	Even while they move outside their traditional tony circle , racehorse owners still try to capitalize on the elan of the sport	Glossy brochures circulated at racetracks gush about the limelight of the winner 's circle and high-society schmoozing
+6	Glossy brochures circulated at racetracks gush about the limelight of the winner 's circle and high-society schmoozing	One handout promises : `` Pedigrees , parties , post times , parimutuels and pageantry
+2	Maybe it 's not that simple	For starters , racehorse buyers have to remember the basic problem of such ventures : These beasts do n't come with warranties
+6	And for every champion , there are plenty of nags	Katherine Voss , a veteran trainer at the Laurel , Md. , track , offers neophytes a sobering tour of a horse barn , noting that only three of about a dozen horses have won sizable purses
+2	One brown two-year-old filly was wheezing from a cold , while another had splints on its legs , keeping both animals from the racetrack	You can see the highs and lows of the business all under one roof
+8	You can see the highs and lows of the business all under one roof	There are n't too many winners
+2	Perhaps the biggest hurdle owners face is convincing newcomers that this is a reputable business	Some badly managed partnerships have burned investors , sometimes after they received advice from industry `` consultants
+2	But some are skeptical of the code 's effectiveness	The industry is based on individual honesty
+8	But some are skeptical of the code 's effectiveness	The industry is based on individual honesty
+8	Despite the drop in prices for thoroughbreds , owning one still is n't cheap	At the low end , investors can spend $ 15,000 or more to own a racehorse in partnership with others
+5	At the low end , investors can spend $ 15,000 or more to own a racehorse in partnership with others	At a yearling sale , a buyer can go solo and get a horse for a few thousand dollars
+8	But that means paying the horse 's maintenance	on average , it costs $ 25,000 a year to raise a horse
+1	BUELL INDUSTRIES Inc. halved its quarterly dividend to five cents a share , payable Nov. 17 to stock of record Nov. 3	The company 's quarterly dividend had been 10 cents a share since April 30 , 1988
+1	The company 's quarterly dividend had been 10 cents a share since April 30 , 1988	it would incur an aftertax charge of about $ 3.6 million in its fourth quarter ending Tuesday , in connection with the sale and discontinuance of several lines at a plant
+9	Dunkin ' Donuts ' announcement followed DD Acquisition 's request to the Delaware Court of Chancery Monday to set a trial date for its suit against the company	The trial had been postponed to allow Dunkin ' Donuts to seek alternatives to DD Acquisition 's offer
+5	per-share earnings were 56 cents compared with the year-ago loss of $ 2.39	Sales fell 1.5 % to $ 884 million from $ 897.2 million
+7	Combustion reported improved profits in its automation and control products businesses , and it narrowed its losses in its public sector and environmental segment	Power generation had higher sales but lower earnings
+5	Net in the latest quarter included a pretax gain of $ 22.4 million from the sale of Combustion 's minority interest in Stein Industrie to GEC Alsthom N.V. of the Netherlands	Last year 's results reflected a gain of $ 28.2 million on disposition of assets and a $ 165 million pretax provision mainly from costs of completing certain waste-to-energy and other power plants
+5	that the French insurer would keep Farmers ' headquarters in Los Angeles and `` will not send French people to run the company	Axa would also maintain Farmers ' relationships with the insurance exchanges that it manages
+8	The bid is part of Sir James Goldsmith 's unfriendly takeover attempt for B.A.T Industries PLC , the British tobacco , retailing , paper and financial-services giant that acquired Farmers last year for $ 5.2 billion	Axa has agreed to acquire Farmers from Sir James 's investment vehicle , Hoylake Investments Ltd. , for $ 4.5 billion plus a $ 1 billion investment in Hoylake
+7	Hearings on Axa 's acquisition application have been set for Nov. 13 in Idaho ; Nov. 20 in Illinois ; Nov. 24 and Dec. 4 in Arizona ; Dec. 11 in Washington state ; and Jan. 8 in Oregon	Hearings have n't yet been set in Texas , Ohio and Kansas
+7	Hearings on Axa 's acquisition application have been set for Nov. 13 in Idaho ; Nov. 20 in Illinois ; Nov. 24 and Dec. 4 in Arizona ; Dec. 11 in Washington state ; and Jan. 8 in Oregon.Hearings have n't yet been set in Texas , Ohio and Kansas	California 's insurance commissioner does n't hold hearings on acquisition applications
+6	Although Axa has been rebuffed by Farmers and has n't had any meetings with management , Mr. Bebear nonetheless appears to be trying to woo the company 's executives with promises of autonomy and new-found authority under Axa	He said Mr. Denlea would be a member of the top management team of the Axa-Midi group of companies , and would `` help define policies and strategies of the group
+1	Those credits result because of taxes that Farmers , as the management company , has paid , and have `` proved to be very important for the exchanges	that the tax cost to the exchanges under the revised structure would be about $ 8 million a year , which he described as `` peanuts
+5	a second sale of Yamatake-Honeywell is still being negotiated	that it intends to retain at least a 20 % stake long term
+2	that it intends to retain at least a 20 % stake long term	A 20 % stake would allow Honeywell to include Yamatake earnings in its results
+5	OPPENHEIMER CAPITAL LIMITED PARTNERSHIP increased the quarterly distribution to 40 cents a limited partnership unit from 36.25 cents	The distribution represents available cash flow from the partnership between Aug. 1 and Oct. 31
+5	OPPENHEIMER CAPITAL LIMITED PARTNERSHIP increased the quarterly distribution to 40 cents a limited partnership unit from 36.25 cents.The distribution represents available cash flow from the partnership between Aug. 1 and Oct. 31	It is payable Nov. 30 to units of record Oct. 31
+9	The bank said the C $ 1 billion in reserves will result in a charge of C $ 595 million against earnings but said it still expects to report a profit for the year ending Tuesday	The bank reported net income of C $ 389 million for the nine months ended July 31
+5	The bank reported net income of C $ 389 million for the nine months ended July 31	The bank said the increase in loan-loss provisions wo n't affect the payment of dividends
+5	The bank said reserves now amount to 61 % of its total less-developed-country exposure	Excluding Mexico , reserves equal 95 % of LDC exposure
+8	The media concern said net income rose to $ 37.8 million , or 72 cents a share , from $ 32 million , or 57 cents a share , in the year-earlier period	The latest results include a gain of $ 4.2 million , or eight cents a share , on the sale of television stations in Oklahoma City and Flint , Mich
+8	despite only single-digit growth in newspaper revenue	That division 's revenue rose 2.3 % to $ 472.5 million from $ 461.9 million in the year-ago period
+5	ALBERTA ENERGY Co. , Calgary , said it filed a preliminary prospectus for an offering of common shares	The natural resources development concern said proceeds will be used to repay long-term debt
+5	The company plans to raise between C $ 75 million and C $ 100 million from the offering , according to a spokeswoman at Richardson Greenshields of Canada Ltd. , lead underwriter	The shares will be priced in early November , she said
+5	In a strongly worded response summarizing a filing made in the same court yesterday , GE asserted that `` prosecutors have misstated the testimony of witnesses , distorted documents and ignored important facts	The company attacked the government 's allegations as `` reckless and baseless mudslinging , '' and said its management `` promptly and accurately reported '' to the Pentagon all relevant information about billing practices
+5	The company , for its part , maintains that many of the disputed documents are privileged attorney-client communications that should n't be turned over to prosecutors	A hearing is scheduled on the issue today
+10	The government 's 136-page filing covers events leading up to the current case and an earlier indictment in March 1985 , when GE was accused of defrauding the Pentagon by illegally claiming cost overruns on Minuteman missile contracts	GE pleaded guilty and paid a fine of more than $ 1 million in the Minuteman case , which involved some of the same individuals and operations that are at the center of the dispute in the Philadelphia court
+5	a company that allegedly sat on damaging evidence of overcharges from 1983 to 1985 , despite warnings from an internal auditor	that Mr. Orr `` was erroneously informed that the { suspected } practices had only just been discovered '' by GE management
+9	and that the information was passed on quickly to Mr. Orr at his first meeting with company representatives	Subsequent meetings , initiated after the company and two of its units were briefly suspended from federal contracts , were held to familiarize Mr. Orr with the company 's self-policing procedures and to disclose additional information , according to GE
+1	The proposed acquisition provides for a cash payment of $ 10 a share at closing and a contingent payment of as much as 80 cents a share placed in escrow	Details of the escrow agreement have n't been completed
+5	London share prices closed sharply lower Tuesday on the back of Wall Street 's steep drop and renewed fears over U.K. economic fundamentals	Tokyo 's winning streak came to an end
+5	London 's Financial Times 100-share index shed 40.4 points to finish at 2149.3	At London 's close , the Dow Jones Industrial Average was 51.23 points lower at 2611.68
+5	British life insurer London & General , which firmed 2 pence to 356 pence ( $ 5.70 ) , and composite insurer Royal Insurance , which finished 13 lower at 475 , were featured in the talk	On the life insurance side , Pearl Group finished 5 lower at 640 , and Sun Life dropped 15 to # 11.53
+5	Jaguar finished 4 lower at 694	the market did n't react substantially to Ford Motor Co. 's disclosure to the U.S. Securities and Exchange Commission that it will seek 100 % of Jaguar 's shares outstanding when U.K. government share regulations are lifted at the end of next year
+1	The Nikkei index fell 58.97 points to 35526.55	The index gained 99.14 points Monday
+5	and expectations for future gains are high	Such sentiment is being supported by word that a large amount of cash from investment trust funds is scheduled to enter the market later this week and in early November
+2	Buying activity Tuesday centered on a wide range of midcapitalization , domestic demand-related shares whose prices range from 1,000 to 2,000 yen	Investors expect these shares will be targets of investment trust funds
+7	Tuesday 's notable losers were highpriced shares such as Pioneer , which shed 210 yen to 5,900 yen	Sony was down 130 to 8,590
+7	Tuesday 's notable losers were highpriced shares such as Pioneer , which shed 210 yen to 5,900 yen.Sony was down 130 to 8,590	TDK fell 120 to 5,960 , Fuji Photo Film declined 160 to 4,830 , and Fanuc dropped 160 to 7,440
+2	Share prices on the Frankfurt stock exchange closed sharply lower in thin dealings as worried investors remained idle as the result of two potentially destabilizing domestic developments	The DAX index fell 15.85 to end at 1507.37
+5	Cutting against the downward trend was Continental , which jumped 4 marks to 346 marks ( $ 187 ) in heavy trading on rumors that the tire maker is about to be taken over	It jumped 7.5 Monday
+2	the market was exceptionally thin , as small investors remain on the sidelines	investors are not only licking their wounds following the turbulence last week , but they have also been made nervous by two events in West Germany
+2	On Sunday , the governing Christian Democratic Union suffered a series of setbacks in municipal elections in Baden-Wuerttemberg	investors are worried that the CDU wo n't be able to hold office in federal elections at the end of 1990
+2	And statements by the chairman of the IG Metall labor union , Franz Steinkuehler , also cast a cloud over trading	Mr. Steinkuehler said at a convention in West Berlin that the union has to prepare for `` a big fight '' to achieve its main goal of a 35-hour workweek , down from current 37-hour workweek
+6	and the auto makers fell sharply as well	Daimler-Benz dropped 12.5 to 710.5 , Bayerische Motoren Werke dropped 10.5 to 543.5 , and Volkswagen lost 7.1
+5	Elsewhere , share prices closed lower in Zurich , Amsterdam , Milan and Stockholm	Uneasiness about Wall Street was cited in several markets
+5	To make them directly comparable , each index is based on the close of 1969 equaling 100	The percentage change is since year-end
+5	They said the agreement will be submitted to their respective supervisory boards next Wednesday	Extraordinary general meetings , to be held Nov. 28 , will decide the share exchange ratio
+1	But that does n't necessarily mean thrifts are discriminating against blacks	it does n't have data on the financial position of applicants and thus ca n't determine why blacks are rejected more often
+2	Nevertheless , on Capitol Hill lawmakers said they are worried that financial institutions are routinely discriminating against minorities	They asked regulators to suggest new ways to force banks and thrifts to comply with anti-discrimination laws
+1	The data is a red flag , but lacking the financial data you ca n't make a case that discrimination is widespread	Certainly the federal government should take a hard look at it
+6	that the bank and thrift regulators generally said they have been too busy handling the record number of bank and thrift failures in the past few years to put much energy into investigating possible discrimination	We would be the first to admit that we have not devoted the necessary amount of emphasis over the past several years '' to developing examinations for discrimination , said Jonathan Fiechter , a top official of the Office of Thrift Supervision
+8	they have punished only a few banks for violations of anti-discrimination laws	it has issued five citations to banks over the past three years for discriminatory practices
+5	it found no indications of illegal discrimination in 3,437 examinations of banks since April 1987	that of 37,000 complaints it received since January 1987 , only 16 alleged racial discrimination in real estate lending
+9	that of 37,000 complaints it received since January 1987 , only 16 alleged racial discrimination in real estate lending	The agency investigated the complaints but no violations were cited
+9	that among the possibilities being considered by regulators to fight discrimination is the use of `` testers	The Department of Housing and Urban Development has used testers to investigate discrimination in rental housing
+1	The Department of Housing and Urban Development has used testers to investigate discrimination in rental housing	Using testers could be controversial with financial institutions
+5	Last week , Tele-Communications agreed to pay Viacom Inc. $ 225 million for a 50 % stake in its Showtime subsidiary	Tele-Communications , the U.S. 's largest cable company , said it may seek other cable partners to join in its investment
+5	Tele-Communications is HBO 's largest customer , and the two have a number of other business relationships	Earlier this year , Time even discussed bringing Tele-Communications in as an investor in HBO
+2	Tele-Communications is HBO 's largest customer , and the two have a number of other business relationships.Earlier this year , Time even discussed bringing Tele-Communications in as an investor in HBO , executives at both companies said	The purchase of the Showtime stake is `` a direct slap in our face
+8	Time is expected to mount a legal challenge in U.S. District Court in New York , where Viacom in May filed a $ 2.5 billion antitrust suit charging Time and HBO with monopolizing the pay-TV business and trying to crush competition from Showtime	it is now preparing a countersuit naming both Viacom and Tele-Communications as defendants
+5	it is now preparing a countersuit naming both Viacom and Tele-Communications as defendants	Time may seek to break up the transaction after it is consummated , or may seek constraints that would prevent Tele-Communications from dropping HBO in any of its cable systems in favor of Showtime
+5	Viacom officials declined to comment	Jerome Kern , Tele-Communications ' chief outside counsel , said he was n't aware of Time 's legal plans
+1	In addition to owning HBO , with 22 million subscribers , Time Warner separately operates cable-TV system serving about 5.6 million cable-TV subscribers	Tele-Communications controls close to 12 million cable subscribers , and Viacom has about one million
+1	the ownership of both cable systems and cable-programming networks gives the company too much market power	that in joining up with Tele-Communications , Viacom has potentially more power , particularly since Viacom also owns cable networks MTV , VH-1 and Nick at Nite
+1	Time argues that in joining up with Tele-Communications , Viacom has potentially more power	Ironically , Tele-Communications and Time have often worked closely in the cable business
+5	Ironically , Tele-Communications and Time have often worked closely in the cable business	Together , they control nearly 40 % of Turner Broadcasting Systems Inc
+8	Together , they control nearly 40 % of Turner Broadcasting Systems Inc	Tele-Communications has a 21.8 % stake , while Time Warner has a 17.8 % stake
+2	But since Time 's merger with Warner Communications Inc. , relations between the two have become strained	Each company worries that the other is becoming too powerful and too vertically integrated
+8	and other developments are weakening Viacom 's antitrust suit against Time	Viacom accuses Time in its suit of refusing to carry Showtime or a sister service , The Movie Channel , on Time 's Manhattan Cable TV system , one of the nation 's largest urban systems.But yesterday , Manhattan Cable announced it will launch Showtime on Nov. 1 to over 230,000 subscribers
+6	several major carriers have posted or are expected to post relatively poor third-quarter results	Yesterday , USAir Group Inc posted a worse-than-expected $ 77.7 million net loss for the period
+5	And they say the outlook for 1990 is nearly as bad	Airlines in 1989 `` came in like a bang and are going out like a whimper
+1	This turn of events has put a big damper on an industry that seemed almost invincible last spring , when fares were rising at double-digit rates and many carriers seemed to be growing fat on near-monopolies in certain markets	Now , many airline companies might become a lot less attractive as takeover targets on Wall Street
+5	Now , many airline companies might become a lot less attractive as takeover targets on Wall Street	The downturn also raises questions about the carriers ' ambitious orders for new airplanes
+2	For travelers , though , the industry 's problems have had some positive effects	In recent weeks , airlines have cut numerous fares in leisure markets to try to win back customers
+8	For travelers , though , the industry 's problems have had some positive effects	In recent weeks , airlines have cut numerous fares in leisure markets to try to win back customers
+5	In recent weeks , airlines have cut numerous fares in leisure markets to try to win back customers	Others have tried to spruce up frequent-flier programs
+10	In recent weeks , airlines have cut numerous fares in leisure markets to try to win back customers	Others have tried to spruce up frequent-flier programs
+8	its third-quarter results would be `` significantly lower '' than a year earlier	Its loss of $ 77.7 million , or $ 1.86 a share , contrasted with net of $ 68.5 million , or $ 1.58 a share , in the 1988 third quarter.Revenue rose only 3.3 % in the latest period , to $ 1.53 billion from $ 1.48 billion
+5	Its loss of $ 77.7 million , or $ 1.86 a share , contrasted with net of $ 68.5 million , or $ 1.58 a share , in the 1988 third quarter	Revenue rose only 3.3 % in the latest period , to $ 1.53 billion from $ 1.48 billion
+5	For the nine months , the Arlington , Va. , company 's net plunged 73 % to $ 38.5 million , or 76 cents a share , from $ 142.2 million , or $ 3.28 a share	Revenue rose 12 % to $ 4.75 billion from $ 4.22 billion
+9	Shortly after announcing its quarterly loss , USAir 's stock tumbled $ 3 a share	It ended at $ 40.125 , down $ 2.375 , in New York Stock Exchange composite trading
+5	Nobody was expecting this size of a loss	One airline executive called the loss `` amazing
+6	In announcing the results , USAir cited many of the same problems that several other industry officials have named recently	the industry 's domestic traffic was flat in the third quarter
+2	this was because hefty fare increases earlier in the year scared off many leisure travelers this summer	To try to combat the traffic slowdown , airlines started reducing fares
+2	To try to combat the traffic slowdown , airlines started reducing fares	average fares rose only 1.7 % in August , in contrast to increases of 16 % each in February and March
+6	Some other fare promotions have backfired	This summer , the industry introduced a `` kids fly free '' program , in which children were allowed to fly free if they were traveling with an adult
+1	This summer , the industry introduced a `` kids fly free '' program , in which children were allowed to fly free if they were traveling with an adult	Airlines tried to restrict the program substantially by limiting the offer to certain days of the week , but it still was apparently used far more heavily than the airlines expected
+6	Airlines also say their frequent-flier programs are squeezing profits because awards are being redeemed at a heavier-than-normal rate	One airline official said about three times as many free-travel coupons are being turned in as in previous years
+6	Rising operating expenses are another problem	Fuel costs were up 10 % in the third quarter
+5	Fuel costs were up 10 % in the third quarter	Labor costs are on the upswing again at many carriers
+8	USAir , for example , blamed some of its loss on merger expenses and on disruptions caused by Hurricane Hugo last month	We can not quantify the total adverse effects of Hugo
+6	Whatever the cause for the downturn , few people are predicting any sudden improvement	Airline Economics Inc. , an aviation consulting firm , is projecting an industrywide operating profit of $ 2.5 billion for 1989 , compared with earlier forecasts of $ 3 billion to $ 3.5 billion
+5	Airline Economics Inc. , an aviation consulting firm , is projecting an industrywide operating profit of $ 2.5 billion for 1989 , compared with earlier forecasts of $ 3 billion to $ 3.5 billion	As for 1990 , the firm predicts that profit will slip to between $ 1 billion and $ 1.5 billion
+2	But now , Charlie Brown is about to start pitching everything from Chex Party Mix to light bulbs	Why is he cashing in now
+6	The effort will make the Peanuts gang very familiar pitchmen in 1990	General Electric plans to use the characters to plug its Miser light bulb
+7	General Electric plans to use the characters to plug its Miser light bulb	Teleflora will run TV ads at Valentine 's Day promoting its `` Snoopy 's Love Bouquet
+7	General Electric plans to use the characters to plug its Miser light bulb.Teleflora will run TV ads at Valentine 's Day promoting its `` Snoopy 's Love Bouquet	Ralston Purina will promote its Chex Party Mix 's three new flavor packets named for Charlie Brown , Lucy and Linus
+5	Beyond the advertisements , the syndicator is planning a traveling arena show , new TV specials for CBS and even an exhibit at the Smithsonian Institute	The yearlong schedule of festivities will be kicked off officially with a combination live and animation half-time special at the Super Bowl in January
+6	All the tie-ins , though , have some marketing experts questioning whether the party may go too far	There are too many people participating , '' says Al Ries , of Trout & Ries , a Greenwich , Conn. , marketing consulting firm
+5	There are too many people participating	If you want to cut through the clutter , you have to make your message as distinct , sharp and individual as possible
+2	it 's very scrupulous with the contracts it hands out	We 're not interested in promoting every single product that comes along
+8	it 's very scrupulous with the contracts it hands out	We 're not interested in promoting every single product that comes along
+1	Mr. Berry , 58 , had resigned after being asked by Ogilvy 's chairman and chief executive officer , Kenneth Roman , to give up his title as creative head of the New York office and to take a fuzzier international role	Yesterday , just a day after Mr. Roman announced he would leave to take a top post at American Express , WPP said Mr. Berry would return to take an international role at the parent company
+2	to cut costs	it will spend more than $ 140 million this year , down from about $ 200 million last year
+8	to cut costs	it will spend more than $ 140 million this year , down from about $ 200 million last year
+5	third-quarter net rose 15 % to $ 6.9 million , or 21 cents a share , from $ 6 million , or 18 cents a share , in the year-earlier period	Revenue increased more than 5 % to $ 283.2 million from $ 268.6 million
+5	PepsiCo Inc. will give away 4,000 sets of `` Game Boy , '' Nintendo 's new hand-held video game in a two-month promotion scheduled to begin Nov. 1	it will spend $ 10 million advertising the promotion
+5	Among these are the company 's Australian brewing assets , in the books at A $ 950 million but actually worth A $ 2.5 billion	An investment in Chile 's telephone company is carried at US $ 300 million but really worth US $ 500 million
+5	that all the company 's coal and oil interests might be for sale in total or in part	Some of the oil interests already have been sold
+8	Mercedes officials said they expect flat sales next year	Erich Krampe , president of the U.S. sales arm of West German auto maker Daimler Benz AG , predicted luxury-car sales will rise to 840,000 in 1990 from 830,000 this year primarily because of the new Japanese makes
+8	the charge stems from a building supply contract in which the company guaranteed a contractor 's performance	a subcontractor had severe cost overruns and was unable to fulfill the contract terms on its own , making it necessary for Apogee to advance cash to ensure completion of the project
+2	the introduction of a 3 % consumption tax in April has helped sales	The new tax , though a source of general resentment among Japanese taxpayers , replaced a higher commodities tax that applied to automobiles
+6	Production of cars rose to 801,835 units in September , a 5.5 % increase from a year earlier	Midsized cars accounted for the greatest growth in units , rising 62,872 units to 134,550 units , or 88 % .Minicar output more than tripled
+5	Midsized cars accounted for the greatest growth in units , rising 62,872 units to 134,550 units , or 88 %	Minicar output more than tripled
+8	Minicar output more than tripled	Manufacturers produced 46,835 of the vehicles -- which have engines of 500 cubic centimeters or less -- an increase of 31,777 units
+5	Total truck production fell 22 % from a year earlier to 315,546 units	Minitruck production fell 13 % to 94,243 units
+8	Bus production also slipped , by 49 % from a year earlier to 2,936 units	bus production has declined since January
+8	Auto production for the first half of the fiscal year , which began in August , totaled 6,379,884 units	Half-year production was up 3.4 % compared with the same period a year earlier
+5	But then steady , concentrated buying by Bear , Stearns & Co. , which frequently buys stock for corporate raiders , took hold and steadied the fall in UAL , which eventually buoyed the entire market	The industrial average closed down only 3.69 points at 2659.22
+5	UAL stock closed at $ 170 a share , down $ 8.375	Volume was a tumultuous 4.9 million shares , or 22 % of the 21.8 million UAL shares outstanding
+5	Volume was a tumultuous 4.9 million shares , or 22 % of the 21.8 million UAL shares outstanding	that Bear , Stearns bought more than 1 million shares
+8	Takeover-stock traders , stung by their huge losses in UAL stock , remained eager for some action by an outside catalyst following the collapse Oct. 13 of a $ 300-a-share , $ 6.79 billion labor-management buy-out	Their hope was that the catalyst would seek to oust the board in a solicitation of shareholder consents
+1	It would make sense for somebody to do it	I have never seen a case of incompetence shared by so many participants
+5	Any investor who acquires UAL stock in an attempt to force a buy-out or recapitalization must deal with United 's contentious unions	The pilots are working under an expired contract , and the machinists contract expires next month
+2	The pilots are working under an expired contract , and the machinists contract expires next month	That gives them enormous leverage , including the threat of a strike to block any buy-out or recapitalization attempt they oppose
+10	However , a catalyst like Coniston could seek shareholder support for a sale to a labor-management group at the last price discussed by that group before the board meeting Monday	The pilots had been working on a buy-out bid between $ 225 and $ 240 a share , or $ 5.09 billion to $ 5.42 billion
+8	But the board 's decision prompted many to bail out of the stock yesterday	We had a lot of people who threw in the towel today
+2	that many arbitrage firms are afraid to sell their UAL stock at the bottom , but already own so much they ca n't buy any more	This deal is like a Roach Motel
+2	This deal is like a Roach Motel	They check in , but they ca n't check out
+2	The pilots might end up teaming up with their longtime adversaries , the machinists union , in a recapitalization	The machinists are reviewing proposals they made in the past for recapitalizations that would pay a special shareholder dividend and give employees a minority stake
+0	The machinists are reviewing proposals they made in the past for recapitalizations that would pay a special shareholder dividend and give employees a minority stake	The company rejected those past proposals
+8	It is unclear , however , if the machinists would support a majority stake , as the pilots want	that would depend on how much in concessions machinists would have to give in return for the majority stake
+6	Some investors whose names were bandied about by traders as potential UAL stock buyers said they were n't buying	I 'm not interested , '' said Dallas investor Harold Simmons
+5	I 'm not interested , '' said Dallas investor Harold Simmons	A source close to Carl Icahn , a corporate raider who owns Trans World Airlines Inc. , said he has n't owned any UAL stock and is n't buying
+8	Marvin Davis , whose $ 5.4 billion takeover bid originally put the nation 's second-largest airline in play , is limited by a standstill agreement with UAL he signed in September	The Los Angeles investor ca n't buy UAL stock , solicit shareholder consents or make a new offer unless he makes a formal offer of $ 300 a share or UAL accepts an offer below $ 300
+1	the decline was almost certainly influenced by the early sell-off in the stock market , which partly reflected a weakening economy	the recent decline in copper stocks was misleading in the face of a slowdown in manufacturing
+2	the recent decline in copper stocks was misleading in the face of a slowdown in manufacturing	traders could have picked up signals of an imminent price decline had they been watching the scrap metal markets , which became noticeably weaker two to three weeks ago
+5	But though a weakening economy implies reduced demand that Third World copper-producing countries have n't any choice but to sell copper	They might even step up sales in a falling market in an effort to maintain the flow of foreign exchange into their treasuries
+1	that a lot of traders had bought into the market when the price was in the $ 1.24 to $ 1.26 range , thinking there was support at the $ 1.20 level	When the market fell below that level on Monday and then yesterday could n't climb above that level , traders started selling out their positions
+6	that most of the selling was of a technical nature	the market hit the $ 1.18 level at around 10 a.m. EDT where it encountered a large number of stop-loss orders
+5	the market hit the $ 1.18 level at around 10 a.m. EDT where it encountered a large number of stop-loss orders	More stop-loss orders were touched off all the way down to below $ 1.14 , where modest buying was attracted
+5	the settling of strikes in Canada and Mexico will have little effect on supplies of copper until early next year	the next area of support for copper is in the $ 1.09 to $ 1.10 range
+1	the next area of support for copper is in the $ 1.09 to $ 1.10 range	that as soon as the selling abates somewhat we could see a rally back to the $ 1.20 region
+2	that the preliminary estimate of the third-quarter gross national product is due out tomorrow and is expected to be up about 2.5 % to 3 %	If the number is a little better , then copper will respond positively , if it is worse then more selling could ensue
+1	that currently the ratio of available copper to consumption is about 3.5 weeks	the normal ratio is five to six weeks
+2	According to Mr. Threlkeld , the bottleneck in copper production is n't at the mines but at the copper refineries	It takes three months to turn copper concentrate into cathodes
+1	It takes three months to turn copper concentrate into cathodes	If there is n't a recession we will be out of copper by the end of March
+1	If there is n't a recession we will be out of copper by the end of March	If there is a recession that will change the statistical situation
+1	If there is a recession that will change the statistical situation	that without a recession copper prices could exceed a high of $ 1.65 a pound
+8	The attitude was `` wait-and-see '' in crude oil futures yesterday in trading on the New York Mercantile Exchange	Prices for the U.S. benchmark West Texas Intermediate crude remained locked in a fairly narrow range before ending the session four cents lower at $ 19.72 a barrel for December delivery
+1	Prices for the U.S. benchmark West Texas Intermediate crude remained locked in a fairly narrow range before ending the session four cents lower at $ 19.72 a barrel for December delivery	the petroleum market was ready to rally after two days of price declines from profit-taking
+9	But an early 80-point drop in the Dow Jones Industrial Average stopped the crude rally cold	The industrial average recovered to close only 3.69 points lower , but petroleum futures never shook off the chill
+6	Futures prices inched upward in mostly lackluster trading	December gold was up $ 3.20 an ounce at $ 373.40
+5	December gold was up $ 3.20 an ounce at $ 373.40 ; December silver gained 5.7 cents to $ 5.1950 an ounce	January platinum rose $ 2.30 an ounce to $ 488.60
+5	January platinum rose $ 2.30 an ounce to $ 488.60	there were no fundamental factors moving these markets
+5	there were no fundamental factors moving these markets	that two weeks ago there were rumors of Soviet sales of precious metals to finance grain purchases , but the sales do n't seem to have materialized
+2	yesterday 's price action reflected weakness in the stock market and the dollar	Gold still acts as a haven when uncertainty prevails in the financial markets as it did '' yesterday
+8	Gold still acts as a haven when uncertainty prevails in the financial markets as it did '' yesterday	that gold was more than 71 times the price of silver at the close yesterday , which is historically high
+5	The sale to the Chinese government of 330,000 metric tons of wheat under the government 's export enhancement program was announced after the close of trading Monday , but the sale was expected and failed to buoy prices yesterday	As for other export customers , the Soviet Union is n't expected to be back buying U.S. corn in significant amounts until early next year
+5	As for other export customers , the Soviet Union is n't expected to be back buying U.S. corn in significant amounts until early next year	A number of commercial grain users buttressed that opinion yesterday by buying certain corn options for delivery in March
+8	Futures at first continued the rally begun on Monday , but then faltered and closed lower	The December contract opened just under Monday 's close , triggered some previously placed buy orders just above $ 1,030 a metric ton , pushing the price to $ 1,040 , and then encountered heavy selling by traders who buy and sell for their own accounts and by commercial interests
+9	The December contract opened just under Monday 's close , triggered some previously placed buy orders just above $ 1,030 a metric ton , pushing the price to $ 1,040 , and then encountered heavy selling by traders who buy and sell for their own accounts and by commercial interests	The contract settled at $ 1,014 a ton , off $ 13
+10	Monday 's rally continued yesterday for only about 20 minutes after the opening	even though there was arbitrage buying in New York because of the weak dollar , cocoa fell to relentless pressure from bearish traders
+5	The December contract reached its life-of-contract low of $ 975 a ton on Oct. 11 ; its lifetime high was $ 1,735 , set in 1988 , and its recent high was $ 1,368 , set in early August	The last time cocoa traded at prices as low as currently was in 1974
+5	Citizens First will pay a maximum of 40 % in cash for the parent of Lakeland Savings Bank and the remainder in convertible preferred stock , with a liquidation value of $ 18 a share	Lakeland holders will have the option to request either stock or cash
+5	Color Systems posted a loss of $ 7.1 million , or $ 1.32 a share , on revenue of $ 10.6 million for the fiscal year ended June 30	Its stock fell 12.5 cents , to $ 2.125 , in American Stock Exchange composite trading yesterday
+1	SCI TV , which expects to release a plan to restructure $ 1.3 billion of debt in the next day or so , is n't just another LBO that went bad after piling on debt -- though it did do that	The cable and TV station company was an LBO of an LBO , a set of assets that were leveraged twice , enabling the blue-chip buy-out king Henry Kravis in 1987 to take more than $ 1 billion of cash out of the com- pany
+9	SCI TV 's six stations once were part of Storer Communications	KKR loaded up the cable and television company with debt in an 1985 buy-out
+5	In 1987 , KKR for the second time piled debt onto Storer 's TV stations , selling them for $ 1.3 billion to a new entity that was 45 % -owned by KKR and 55 % -owned by Gillett Corp	In this second LBO , KKR with one hand took more than $ 1 billion of cash out of the TV company 's assets and moved it into the Storer cable operations , making them more valuable in a 1988 sale
+5	So , while KKR today has an estimated $ 250 million sunk in now-shaky SCI TV , including equity and debt , the LBO firm still is $ 1 billion ahead on the SCI TV buy-out after taking cash up front	On Storer as a whole , KKR racked up compound annual returns of 60 % in the three years it owned Storer
+5	Meanwhile , Mr. Gillett risks losing his entire equity investment of about $ 100 million in SCI TV if the company ca n't be restructured	Overall , Mr. Gillett 's holding company , Gillett Holdings , is heavily indebted and , except for its Vail Mountain resorts , is n't doing very well
+2	SCI TV 's grace period for paying its bills is due to expire Nov. 16	It now is quietly circulating among creditors a preliminary plan to restructure debt
+1	that Mr. Kravis is disappointed that Mr. Gillett did n't manage to boost SCI TV 's operating profit after the buy-out	Mr. Kravis apparently thinks SCI TV can survive if lenders extend its debt payments until TV stations rise in value again , allowing SCI TV to sell assets to pay debt
+3	As for junk-holders , they 're discovering it can be a mistake to take the other side of a trade by KKR	The bonds of SCI TV now are being quoted at prices ranging from only five cents to about 60 cents on the dollar , according to R.D . Smith & Co. in New York , which trades distressed securities
+6	it offers concessions by KKR and Gillett Corp	They would both give part of their combined $ 50 million in common equity in SCI TV to holders of SCI TV 's $ 488 million of junk bonds , as a carrot to persuade them to accept new bonds that might reduce the value of their claims on the company
+2	But some militant SCI TV junk-holders say that 's not enough	They contend that SCI TV 's equity now is worthless
+5	that SCI TV 's equity now is worthless	that it is n't costing KKR anything to give up equity because of its big up-front cash profit on the buy-out
+5	They add that it is n't costing KKR anything to give up equity because of its big up-front cash profit on the buy-out , which they think contributed to SCI TV 's current problems	Kemper , the biggest holder of senior SCI TV bonds , has refused to join the bond-holders committee and is said to be reviewing its legal options
+8	The threat of bankruptcy is a legitimate tool '' to extract money from KKR	This could be the first major bankruptcy-law proceeding for KKR
+2	they are n't aware of any effort to take over the company , but believed the shareholder plan needed to be strengthened	The board has stated repeatedly that Rubbermaid should be independent
+5	For the third quarter , Rubbermaid earned $ 32.6 million , or 44 cents a share , up 16 % from $ 28.1 million , or 38 cents a share , a year earlier	Sales rose 9.7 % to $ 351.5 million from $ 320.4 million
+1	At the end of it all , the Dow Jones Industrial Average closed down 3.69 to 2659.22	At one point yesterday morning , the Dow was down 80.53 points
+10	New York Stock Exchange volume was 237,960,000 shares	Declining issues swamped advancers , 1,222 to 382
+5	Yesterday 's sell-off and rebound was a powerful reminder that 11 days after the 190-point plunge on Friday the 13th , the stock market still has a bad case of nerves	Takeover stock speculation and futures-related program trading drove the industrial average through wide ranges
+2	October 13th left us with a cut and exposed nerve	People are fearful and sensitive
+2	People are fearful and sensitive	Everybody 's finger is one inch closer to the button
+5	Everybody 's finger is one inch closer to the button	I have never had as many calls as I had this morning
+2	For many , it began to look like a replay of Oct. 13	As stocks and stock-index futures fell , a trading limit was hit in the S & P 500 stock futures pit
+2	As stocks and stock-index futures fell , a trading limit was hit in the S & P 500 stock futures pit	Under a post-1987 crash reform , the Chicago Mercantile Exchange would n't permit the December S & P futures to fall further than 12 points for a half hour
+10	But at a critical moment , stock-index arbitrage traders showed their power and control	They scooped up hundreds of S & P futures when the market needed it most
+8	It is very clear that those buy orders came from people who wanted their franchise protected	These guys wanted to do something to show how powerful they are
+5	Shearson Lehman Hutton declined to comment	Officials at Goldman Sachs and Salomon Brothers were unavailable for comment
+6	As in the Oct. 13 massacre , yesterday morning 's drop was triggered by bad news for speculators in UAL	A UAL statement after the market closed Monday indicated that the airline 's board wanted to keep the company independent , effectively crushing hopes of an immediate buy-out
+9	A UAL statement after the market closed Monday indicated that the airline 's board wanted to keep the company independent , effectively crushing hopes of an immediate buy-out	Five minutes before the Big Board opened , a preliminary price was flashed for UAL -- somewhere between 135 and 155 , a loss of as much as $ 43 a share from Monday 's close
+2	A UAL statement after the market closed Monday indicated that the airline 's board wanted to keep the company independent , effectively crushing hopes of an immediate buy-out	Five minutes before the Big Board opened , a preliminary price was flashed for UAL -- somewhere between 135 and 155 , a loss of as much as $ 43 a share from Monday 's close
+5	UAL finally opened for trading at 10:08 a.m. at 150 , down $ 28	there was a huge crowd around the Big Board specialist 's post where UAL trades
+8	there was a huge crowd around the Big Board specialist 's post where UAL trades	There was a seething mass of people
+5	Takeover speculators -- who have already taken a record loss estimated at more than $ 700 million on UAL -- started selling other stocks as well as S & P futures in an attempt to hedge against a further UAL blood bath	Shortly after the UAL opening , program traders started selling stocks in the Major Market Index and S & P 500 index
+5	By 10:30 a.m. the Dow was down 62.70	All 20-stocks in the MMI except Exxon , General Motors and Sears were down $ 1 to $ 2
+2	At 10:33 , when the S & P 500 December futures contract crunched to a 12-point loss under the force of sell programs , S & P futures trading was halted and program trades on the Big Board were routed into a special computer that scans for order imbalances	Under the rules adopted by the Chicago Mercantile Exchange , the futures contract can not drop below the limit , but buyers can purchase futures
+10	It was whooosh	In five minutes , the Dow industrials climbed almost 30 points
+9	In five minutes , the Dow industrials climbed almost 30 points	The big futures buying triggered stock-index buy programs that eventually trimmed the Dow 's loss to 31 points by 11 a.m
+8	the futures buying was finely calculated by program traders	These firms sold stock into the big morning decline , but seeing the velocity of the market 's drop , held back on their offsetting purchases of futures until the S & P futures hit the trading limit.Then they completed the other side of the trade by buying futures , which abruptly halted the stock market 's decline as traders began to buy stocks
+2	Almost simultaneously , PaineWebber began a very visible buy program for dozens of stocks	The combined buying rallied the Dow into a small gain , before closing at a slight loss
+6	Some institutional traders loved the wild ride	This is fun , '' asserted Susan Del Signore , head equity trader at Travelers Investment Management Co
+5	This is fun	she used the market 's wild swings to buy shares cheaply on the sell-off
+9	she used the market 's wild swings to buy shares cheaply on the sell-off	On the comeback , Ms. Del Signore unloaded shares she has been aiming to get rid of
+6	But traders who risk money handling big blocks of stock were shaken	This market is eating away my youth , '' said Chung Lew , head equity trader at Kleinwort Benson North America Inc
+6	Dow Jones climbed 5 3/4 to 41 on very heavy volume of 786,100 shares	a big Japanese buy order was behind the rise
+1	a big Japanese buy order was behind the rise	there were no corporate developments that would account for the activity
+5	UAL finished at 170 , off 8 3/8	Other airline stocks fell in response to the UAL board 's decision to remain independent for now , including USAir Group , which separately reported a third-quarter loss of $ 1.86 a share compared with a year-ago profit
+8	Other airline stocks fell in response to the UAL board 's decision to remain independent for now , including USAir Group , which separately reported a third-quarter loss of $ 1.86 a share compared with a year-ago profit	USAir fell 2 1/2 to 40
+5	AMR , the parent of American Airlines , fell 1 3/4 to 68 7/8 on 2.3 million shares ; Delta Air Lines lost 1 1/2 to 66 , Southwest Airlines slid 3/4 to 24 1/4 and Midway Airlines dropped 1/4 to 14 7/8	Texas Air , which owns Continental and Eastern airlines , lost 3/8 to 13 1/8 on the American Stock Exchange
+8	Metals stocks also were especially weak , as concerns about the earnings outlook for cyclical companies weighed on the group	Aluminum Co. of America dropped 1 1/2 to 70 1/4 , Phelps Dodge fell 4 to 59 7/8 , Asarco lost 1 3/8 to 31 3/4 , Reynolds Metals slid 1 3/8 to 50 3/8 , Amax dropped 1 1/8 to 21 5/8 and Cyprus Minerals skidded 2 to 26 3/4
+1	Aluminum Co. of America dropped 1 1/2 to 70 1/4 , Phelps Dodge fell 4 to 59 7/8 , Asarco lost 1 3/8 to 31 3/4 , Reynolds Metals slid 1 3/8 to 50 3/8 , Amax dropped 1 1/8 to 21 5/8 and Cyprus Minerals skidded 2 to 26 3/4	Alcan Aluminium was an exception , as it gained 1 3/8 to 23 on two million shares
+2	Goodyear Tire & Rubber tumbled 2 7/8 to 43 7/8	Its third-quarter earnings were higher than a year ago , but fell short of expectations
+5	Its third-quarter earnings were higher than a year ago , but fell short of expectations	Other stocks in the Dow industrials that failed to benefit from the market 's rebound included United Technologies , which dropped 1 to 53 5/8 , and Bethle hem Steel , which fell 1 to 16 7/8
+1	BankAmerica dropped 1 1/4 to 29 1/2 on 2.3 million shares amid rumors that the earthquake last week in the San Francisco area had caused structural damage to its headquarters building	The company denied the rumors and noted that it does n't own the building
+6	Stocks of California-based thrifts also were hard hit	Great Western Financial lost 1 1/8 to 20 1/2 on 1.6 million shares , Golden West Financial dropped 1 1/4 to 28 1/2 and H.F. Ahmanson dipped 5/8 to 21 1/4
+5	Great Western Financial lost 1 1/8 to 20 1/2 on 1.6 million shares , Golden West Financial dropped 1 1/4 to 28 1/2 and H.F. Ahmanson dipped 5/8 to 21 1/4	HomeFed plunged 3 5/8 to 38 1/2 ; its third-quarter earnings were down from a year ago
+5	Dividend-related trading swelled volume in two issues : Security Pacific , which fell 7/8 to 44 1/2 and led the Big Board 's most actives list on composite volume of 14.8 million shares , and Nipsco Industries , which lost 3/8 to 17 3/8 on 4.4 million shares	Both stocks have dividend yields of about 5 % and will go ex-dividend Wednesday
+10	Kellogg surged 4 1/4 to 75	Donaldson , Lufkin & Jenrette placed the stock on its list of recommended issues
+5	Kellogg surged 4 1/4 to 75	Donaldson , Lufkin & Jenrette placed the stock on its list of recommended issues
+2	Norfolk Southern went up 1 1/8 to 37 7/8	The company 's board approved the repurchase of up to 45 million common shares , or about 26 % of its shares outstanding , through the end of 1992
+2	Airborne Freight climbed 1 1/8 to 38 1/2	Its third-quarter earnings more than doubled from a year earlier and exceeded analysts ' expectations
+5	Gannett 's third-quarter earnings rose 11 % to 52 cents a share from 47 cents in the year-ago period	Sales rose 2.9 % to $ 827.9 million from $ 804.3 million
+5	Payout of preferred dividends resulted in a net loss of five cents a share in the most recent quarter	Revenue edged up 3.4 % to $ 904 million from $ 874 million in last year 's third quarter
+5	For the nine months , the insurance company said net fell 46 % to $ 88.8 million , or $ 1.54 a share , from $ 164 million , or $ 3.16 a share , the previous year	Revenue slid 7 % to $ 2.6 billion from $ 2.8 billion a year earlier
+2	Third-quarter and nine-month results do n't include any provision for premium returns that could be ordered by the California Department of Insurance under Proposition 103	it has applied for an exemption from these rate rollbacks , and plans to defend its filing in hearings before the department
+2	it is offering to purchase the $ 154.2 million amount of its 12 3/4 % senior notes due June 15 , 1991 , at par , plus accrued interest to the Dec. 8 purchase date	the offer is required under the senior note indenture as a result of Control Data 's recent sale of its disk drive subsidiary , Imprimis , to Seagate Technology Inc
+5	But the gains in Treasury bonds were pared as stocks staged a partial recovery	The industrial average ended at 2659.22 , down 3.69 points
+8	Economists said the bond market 's strength also is a sign that investors expect the Federal Reserve to cut interest rates amid growing evidence that the economy is slowing	While they do n't expect the Fed to move right away , they say the case for lower rates is building
+5	The Treasury 's 30-year bond ended over 1/4 point higher	Municipal , mortgage-backed and investment-grade corporate bonds rose 1/8 to 1/2 point
+6	But high-yield , high-risk bonds fell 1/4 to 1/2 point with the stock market early in the session and never recovered	According to a trader at Drexel Burnham Lambert Inc. , the hardest hit junk bonds were those issued by RJR Holdings Capital Corp. , which are the easiest to sell
+6	According to a trader at Drexel Burnham Lambert Inc. , the hardest hit junk bonds were those issued by RJR Holdings Capital Corp	RJR 's 14.70 % bonds due 2007 fell 2 1/2 points
+8	Trading activity in the junk market was extremely light as dealers could n't find enough buyers to match sellers	While the stock market was falling , most { junk bond holders } were just watching it not knowing what to do
+8	While the stock market was falling , most { junk bond holders } were just watching it not knowing what to do	It was like driving down the highway watching a wreck
+2	It was like driving down the highway watching a wreck	Everybody was rubber-necking
+8	given the volatility in the bond market because of stocks	People are looking past supply to lower interest rates , but they 're also worried about being whipsawed by the volatility in the stock market
+1	That was higher than the 7.71 % to 7.73 % average yield that traders had expected	In when-issued trading , the notes were quoted at a price to yield 7.78 %
+8	Interest by Japanese investors was limited	They are typically not active in two-year note auctions , but today 's participation could be viewed as lighter-than-normal
+5	that the Japanese generally have a positive view of the U.S. bond market because of expectations that the dollar will remain strong and interest rates will decline	Possibly , they 're waiting to buy at the ( quarterly ) refunding '' of government debt to be held next month by the Treasury
+8	A small yield premium over comparable Treasurys and a lack of liquidity is hampering dealers ' efforts to drum up interest in the so-called bailout bonds	In when-issued trading , the Refcorp bonds were quoted at a price to yield 8.17 %
+5	Yesterday , the benchmark 30-year bond was quoted late at 102 18/32 to yield 7.89 % , compared with 102 9/32 to yield 7.93 % on Monday	The latest 10-year Treasury was quoted at 100 22/32 to yield 7.88 % , compared with 100 17/32 to yield 7.9 %
+6	Short-term rates were unchanged to slightly lower	The discount rate on three-month Treasury bills was quoted at 7.52 % for a bond-equivalent yield of 7.75 % , while the rate on six-month Treasury bills was quoted at 7.47 % for a yield of 7.85 %
+6	Three of the largest offerings , by Exxon Capital Corp. , Xerox Corp. and Citicorp , were underwritten by groups led by Salomon Brothers Inc	Exxon Capital , long-rumored to be a potential debt issuer , offered $ 200 million of 10-year notes priced to yield 8.31 %
+5	Exxon Capital , long-rumored to be a potential debt issuer , offered $ 200 million of 10-year notes priced to yield 8.31 %	Citicorp issued $ 200 million of seven-year notes priced to yield 8.82 % , and Xerox priced $ 150 million of six-year notes to yield 8.85 %
+8	as one new issue was priced	The Federal Home Loan Mortgage Corp. issued a $ 500 million real estate mortgage investment conduit backed by its 8 1/2 % securities
+8	In the asset-backed market , a big offering of Ford Motor Credit Corp. auto-loan securities was increased in size after strong institutional demand	The deal by the Ford Motor Co. unit , priced Monday , was increased to $ 3.05 billion from $ 2.58 billion
+5	Among major pass-through issues , Ginnie Mae 9 % securities for November delivery ended at 98 15/32 , up 5/32 , after touching an early high of 98 27/32 ; 8 % securities were at 94 5/32 , up 9/32 ; 9 1/2 % securities at 100 15/32 , up 4/32 ; and 10 % securities at 102 11/32 , up 3/32	Freddie Mac 9 % securities were at 97 21/32 , up 5/32
+8	In Japan , government bond prices fell	The No . 111 4.6 % bond due 1998 ended on brokers ' screens at 95.22 , down 0.17 point , to yield 5.41 %
+8	The move was made because of the bank-holding company 's increased profitability	In the third quarter , BSB earned $ 2 million , up from $ 1.8 million a year earlier
+1	and two directors attempted to place the company under bankruptcy-law protection	A federal judge turned down the Chapter 11 petition
+5	Mr. Wolf and other members of the board declined to comment on the announcement	Mr. Waggoner could n't be reached
+5	But as many as 12,000 people marched in East Berlin after the speech to protest his election	During the balloting , 26 members of the 500-seat Parliament voted against Krenz , a move considered unprecedented in the country 's 40-year history
+5	nine people remain missing in the aftermath of last week 's earthquake	The death toll rose to 63
+8	U.S. officials expressed skepticism over an Israeli effort to show the PLO continues to practice terrorism	Israel provided the State Department with a list of recent alleged terrorist incidents attributed to forces controlled by Arafat , but the U.S. said it was n't satisfied that the incidents constituted terrorism
+9	TV evangelist Jim Bakker was sentenced to 45 years in prison and fined $ 500,000 for defrauding followers of his PTL ministry	Bakker , who was immediately taken into custody , was convicted Oct. 5 by a federal court jury in Charlotte , N.C. , of fraud and conspiracy for diverting more than $ 3.7 million of ministry funds for personal use
+5	Lawmakers in Moscow voted to deny the Communist Party its 100 guaranteed seats in the Soviet Congress , meaning Gorbachev and other aides might have to face voters	In Warsaw , Shevardnadze held his first talks with the Solidarity-led government and vowed to maintain fuel supplies
+10	Lawmakers in Moscow voted to deny the Communist Party its 100 guaranteed seats in the Soviet Congress , meaning Gorbachev and other aides might have to face voters	In Warsaw , Shevardnadze held his first talks with the Solidarity-led government and vowed to maintain fuel supplies
+5	In Warsaw , Shevardnadze held his first talks with the Solidarity-led government	Poland 's premier is to visit Moscow next month
+2	to support his rejection of a peace plan approved Sunday by Lebanon 's legislature	The plan lacked a withdrawal timetable
+5	Pro-Iranian kidnappers renewed an offer to trade their captives in Lebanon for at least 15 Shiite Moslem comrades jailed in Kuwait	The statement by Islamic Jihad , which holds at least two U.S. hostages , was accompanied by a photograph of Associated Press correspondent Terry Anderson , longest held of 18 Western hostages
+1	S & Ls reject blacks for mortgage loans twice as often as they reject whites	that does n't necessarily mean thrifts are biased , but conceded that it does n't have data about applicants to determine why blacks are rejected more often
+5	Emergency crews searched through the charred rubble of a Phillips Petroleum Co. plastics plant near Pasadena , Texas , where a series of explosions Monday killed at least two people and injured 124	22 workers were missing and presumed dead
+6	NATO defense ministers opened a two-day meeting in Portugal to assess the alliance 's nuclear-weapons needs amid reduced East-West tensions	The ministers ordered a study on the strategic role of nuclear arms in Western Europe once Soviet conventional weapons are reduced in the East bloc
+5	STOCK PRICES SWUNG wildly as the market reacted to an initial plunge by UAL shares , followed by a sharp rebound in the afternoon	The Dow Jones industrials , down over 80 points in the morning , closed off 3.69 , at 2659.22
+5	The Dow Jones industrials , down over 80 points in the morning , closed off 3.69 , at 2659.22	Bond prices surged in reaction to the sell-off in stocks , then eased slightly during the afternoon recovery
+1	The Dow Jones industrials , down over 80 points in the morning , closed off 3.69 , at 2659.22	Bond prices surged in reaction to the sell-off in stocks , then eased slightly during the afternoon recovery
+5	Bond prices surged in reaction to the sell-off in stocks , then eased slightly during the afternoon recovery	The dollar finished lower
+8	UAL 's stock regained most of an early loss amid speculation one or more investors may challenge the airline 's decision to stay independent	The stock closed down $ 8.375 , at $ 170 , after plunging $ 33 , to $ 145
+2	setting the stage for a possible bidding war with GM	Jaguar has been discussing an alliance with GM , but Ford 's move may derail the talks
+6	Car and truck sales slid 20.5 % in mid-October as U.S. manufacturers paid the price for heavy incentives earlier in the year	General Motors continued to be hardest hit
+1	Durable goods orders slipped 0.1 % in September , reflecting weakening auto demand after a spurt of orders for new 1990 models	Excluding transportation items , orders rose 1.8 %
+5	Norfolk Southern 's board approved a buy-back of up to 45 million shares , valued at over $ 1.7 billion	The repurchase , coupled with an earlier buyback , will reduce the firm 's shares outstanding by over 26 %
+5	Texaco said profit rose 11 % in the quarter , partly due to a massive restructuring	Sun posted a gain
+1	Sun posted a gain	Mobil , Shell and Chevron had declines
+9	In the experiment , mice with the defective gene were mated	Three days later , before the new embryo had become implanted in the uterus , it was washed out of the mother mouse
+10	Three days later , before the new embryo had become implanted in the uterus , it was washed out of the mother mouse	The embryo had progressed only to a clump of eight identical cells
+9	The embryo had progressed only to a clump of eight identical cells	One cell was teased out , and its DNA extracted
+9	Using the new technique developed by Cetus Corp. , called the polymerase chain reaction , the scientists rapidly made millions of copies of the section of DNA that ordinarily contains the hemoglobin gene , providing enough copies to test	A genetic probe showed the hemoglobin gene was missing
+9	For example , infertile couples who have the woman 's eggs fertilized in the test tube usually have several eggs fertilized at a time	When the fertilized cells divide to eight cells , a single cell from each embryo can be tested for genetic defects
+2	When the fertilized cells divide to eight cells , a single cell from each embryo can be tested for genetic defects	A healthy embryo can be picked for implantation and defective ones discarded
+8	In the early 1970s , when the `` world food crisis '' was a major worry , Phillips Petroleum Co. , like several other big companies , began developing `` single-cell protein , '' edible protein made by microbes feeding on non-edible materials	Phillips found and improved a yeast , `` Pichia pastoris , '' which made protein from natural gas-derived alcohol
+0	It also could convert glucose from farm wastes into edible protein	Single-cell protein never panned out , and most companies abandoned such research
+2	They 've now adapted the yeast to making genetically engineered drugs	Like the bacteria used by genetic engineers , the yeast can take in human genes and churn out human proteins for medical use
+2	The oil company claims its yeast system also is better than bacteria at high-volume production of genetically engineered drugs	Chiron Corp. , an Emeryville , Calif. , biotechnology firm , is seeing if the Phillips yeast can be used to make its genetically engineered human proteins
+6	A non-invasive method is being researched by biophysicist Lynn Jelinski at the AT & T unit	It relies on the fact that certain atoms give off detectable signals when subjected to an intense magnetic field
+8	It relies on the fact that certain atoms give off detectable signals when subjected to an intense magnetic field	It 's the same phenomenon used in the new MRI ( magnetic resonance imaging ) scanners being used in hospitals in place of X-ray scans
+2	In the Bell Labs experiments , an MRI-type of machine , synchronized with the heartbeat via an electrocardiogram , rapidly flashes a magnetic field on and off as blood passes a certain point in a vessel	The rapidly flashing return signals from excited hydrogen atoms in the blood give a `` stop-motion '' movie of the blood-filled vessel , ( like the `` stop-motion '' seen in disco dancers when a strobe light is flashing )
+5	The suit , filed in federal trial court in Des Moines , Iowa , where Meredith is based , alleges that the diversified media company 's relocation unit cheated the government by misrepresenting the value of government employees ' homes	The government contract required Meredith Relocation Corp. to purchase employees ' homes based on independent appraisals
+1	The government contract required Meredith Relocation Corp. to purchase employees ' homes based on independent appraisals	that the company `` engaged in various forms of misrepresentation '' with the goal of reducing the appraised value of employees ' homes
+1	Underwriting syndicates at Lloyd 's , the world 's largest insurance market , generally do n't close their accounts for three years , to allow for the filing of claims and litigation	When such claims and litigation extend beyond the period , the syndicates can extend their accounting deadlines
+5	When such claims and litigation extend beyond the period , the syndicates can extend their accounting deadlines	there are currently 115 open account years involving 68 of the market 's roughly 360 syndicates
+2	The open-year accounting practice `` is widely recognized within Lloyd 's as of serious concern '' to the 31,329 member investors	The procedure causes `` great uncertainty '' because an investor ca n't be sure of his or her individual liability
+8	As a result , the insurance market plans new measures to restrict the ability of syndicate officials to leave years open	it expects to enact new rules mandating the changes by year end
+5	The nation 's largest software company earned $ 9.6 million , or five cents a share , compared with $ 28 million , or 16 cents a share , a year earlier	Revenue rose 5 % to $ 282 million from $ 268.3 million
+9	Anthony Wang , president , attributed the drop to the disruption of the company 's business resulting from the prolonged process of acquiring Cullinet	The acquisition was completed in September
+6	The ads celebrate the achievements of some of Lake View 's residents	A spot honoring Bill White , the inventor of chewing gum , shows a woman trying to extricate her high-heeled shoe from a wad of gum
+8	Another focuses on Charles Brush , the first person to light a city electrically	It shows a boy hurling rocks at a street lamp
+2	Cemetery officials hope the ads will not only draw visitors but bolster burials and endowment fund contributions	Lake View had an operating deficit last year and has a poor reputation as an out-of-repair and crime-infested cemetery
+2	The private , non-profit cemetery has had trouble competing against its for-profit counterparts , which use direct mail and other advertising to sell lots	We do n't want to be known as ambulance chasers
+4	We do n't want to be known as ambulance chasers	We want people to think of Lake View as an historical park and educational experience
+8	We want people to think of Lake View as an historical park and educational experience	A pleasant place to come and spend a few hours
+2	Mr. Rockefeller , buried beneath a 180-foot-tall granite obelisk , did n't seem right for an ad either	The oil magnate , who spent his later years passing out dimes to counter his penny-pinching image , `` is n't terribly amusing
+10	In its first day of when-issued trading here , Euro Disney soared like Dumbo to close at 814 pence ( $ 13.05 ) , up 15 % from its 707-pence offering price	The overall London market , following Wall Street 's early nosedive , took a late beating
+2	The overall London market , following Wall Street 's early nosedive , took a late beating	The Financial Times-Stock Exchange 100-Share Index plummeted 40.4 points to close at 2149.3
+5	that the issue 's London debut was accompanied by `` very , very heavy turnover -- between five million and six million shares	Most of the buying was institutional
+1	Official trading in the shares will start in London , Paris and Brussels on Nov. 6 , when the French-franc denominated offering , valued at the equivalent of nearly $ 1 billion , comes to market in the European Community	U.S. investors will be permitted to buy the shares from EC investors 90 days later
+2	A lot of people are getting hurt on this wicked whipsawing	There should be no great rush for investors to buy this
+8	There should be no great rush for investors to buy this	A lot of big European banks , mostly French , and Swiss arb accounts have been buying the stock just to flip it '' for a quick profit
+1	The statement was part of a Ford filing with the U.S. Securities and Exchange Commission	Ford did n't say how much it might offer for Jaguar , or when
+2	But with its stake in Jaguar , which it raised yesterday to 11.95 % , Ford could convene a special Jaguar shareholders ' meeting and urge holders to vote to drop the restriction sooner	A successful vote would put pressure on the British government to lift the restriction
+5	We have not made that decision '' to seek a Jaguar special shareholders ' meeting	that the car maker only would bid for all of Jaguar under the right circumstances
+2	Jaguar seems to be losing interest in giving GM a minority stake It would n't surprise me if { Jaguar executives } want to wait and see what the color of that { Ford bid } is '' first	Ford officials will meet with Jaguar executives in the next week to outline their proposed offer
+2	He predicted Ford officials will meet with Jaguar executives in the next week to outline their proposed offer	Sir John Egan , Jaguar 's chairman , so far has refused to meet with Ford officials , but he is believed to be willing to consider a specific bid proposal
+2	As for GM , its `` fallback position has to be a full bid itself	A Ford takeover of Jaguar would `` have such implications for the balance of power in the 1990s that General Motors ca n't afford to step aside
+2	A Ford takeover of Jaguar would `` have such implications for the balance of power in the 1990s that General Motors ca n't afford to step aside	They will have to throw their hat in the ring
+8	A pitched battle could mean Jaguar would fetch # 10 ( $ 16.02 ) a share , or about # 1.8 billion ( $ 2.88 billion )	The prospect of such a takeover fight has sent Jaguar shares soaring in recent weeks
+5	The prospect of such a takeover fight has sent Jaguar shares soaring in recent weeks	U.S. takeover-stock speculators now own an estimated 25 % of Jaguar shares
+1	In a declining London stock market yesterday , Jaguar shares were down four pence from Monday in late trading , at 694 pence ( $ 11.11 ) a share	In the U.S. , Jaguar 's American depositary receipts rose 12.5 cents in over-the-counter trading , to $ 11.25
+1	And financially strapped Jaguar has spent over a year looking for a rich uncle to provide cash and technological know-how	The company has expressed a preference for GM over Ford because GM has promised it would keep Jaguar independent
+5	And financially strapped Jaguar has spent over a year looking for a rich uncle to provide cash and technological know-how	The company has expressed a preference for GM over Ford because GM has promised it would keep Jaguar independent
+2	GM 's interest in Jaguar reflects a desire to help diversify the U.S. company 's products in the growing luxury-car segment of the market	Its Opel line has a solid image and a recent string of highly successful new models , but it lacks Jaguar 's cachet
+10	An increase in production at some major oil fields in the North Sea , which had been knocked out by an explosion in July 1988 , also aided results	The sale of a portion of refining and marketing operations to Saudi Arabia helped alleviate the decline in earnings from that business
+5	An increase in production at some major oil fields in the North Sea , which had been knocked out by an explosion in July 1988 , also aided results	The sale of a portion of refining and marketing operations to Saudi Arabia helped alleviate the decline in earnings from that business
+1	Third-quarter net income at Texaco rose to $ 305 million from $ 274 million last year	Revenue declined 3.4 % , to $ 8.4 billion from $ 8.7 billion
+5	Revenue declined 3.4 % , to $ 8.4 billion from $ 8.7 billion	Per-share earnings declined to $ 1.10 a share from $ 1.12 a share , largely because of 21 million additional shares issued to retire $ 1 billion of debt
+5	Sun Sun Co. 's net income climbed 18 % to $ 85 million , or 80 cents a share , from $ 72 million , or 67 cents a share	Revenue increased 11 % , to $ 2.73 billion from $ 2.46 billion
+2	some of the growth reflects higher earnings in the oil sands operation of Suncor , a majority-owned Canadian subsidiary	the synthetic crude oil production from the facility rose even as the price for that oil increased
+8	some of the growth reflects higher earnings in the oil sands operation of Suncor , a majority-owned Canadian subsidiary	the synthetic crude oil production from the facility rose even as the price for that oil increased
+5	which countered higher earnings from the crude oil sector of Shell 's exploration and production operation	Shaving away some of the gain in that unit was a decline in U.S. oil production to 502,000 barrels of oil a day during the quarter from 527,000 barrels a day last year
+5	Net income at Mobil Corp. slipped 4.5 % to $ 532 million , or $ 1.30 a share , from $ 557 million , or $ 1.36 a share	Revenue declined $ 518 million , to $ 13.63 billion
+1	Earnings included a one-time gain of $ 192 million on a property transaction in Hong Kong	Exploration and production profits slumped $ 40 million due to a provision for restructuring costs
+8	Chevron 's net income fell 0.7 % , to $ 417 million , or $ 1.22 a share , from $ 420 million , or $ 1.23 a share	Results included a $ 37 million gain from the sale of rights from Chevron 's investment in Amax Inc. , and a loss of $ 30 million from the sale of California oil and gas properties
+5	Results included a $ 37 million gain from the sale of rights from Chevron 's investment in Amax Inc. , and a loss of $ 30 million from the sale of California oil and gas properties	Revenue rose 11 % , to $ 8 billion from $ 7.2 billion
+8	higher crude oil prices boosted profits from production operations	Profits from U.S. exploration and production operations totaled $ 58 million , after the property sale loss , compared with a year-earlier $ 44 million loss that included a $ 16 million reorganization charge
+5	Refining and marketing operations earned $ 130 million in the quarter this year , compared with earnings of $ 186 million a year earlier that included $ 18 million in charges for environmental programs	Foreign earnings fell to $ 180 million from $ 182 million that included a $ 48 million gain from lower Canadian and Australian taxes
+5	Foreign earnings fell to $ 180 million from $ 182 million that included a $ 48 million gain from lower Canadian and Australian taxes	Chemical profits fell to $ 78 million from $ 98 million
+8	Asarco also reported third-quarter net income rose 14 % , to $ 52.7 million , or $ 1.25 a share , from a restated $ 46.2 million , or $ 1.10 a share , a year earlier	the gain reflected continued strength in prices for refined copper , lead and zinc , and higher equity earnings in Mexico Desarrollo Industrial Minero S.A. , a Mexican mining company in which Asarco has a 34 % stake
+5	In August , Asarco , through its Lac d'Amiante du Quebec subsidiary , sold its remaining one-third interest in an asbestos mining limited partnership in Canada for $ 11.7 million	it plans to shut down or sell its Rapatee coal mine and will end its involvement in southern Illinois strip mining
+8	it plans to shut down or sell its Rapatee coal mine and will end its involvement in southern Illinois strip mining	that it is discussing a management-employee buy-out of the facility , but that it would stop mining and selling coal at year end when existing sales contracts expire , regardless of the outcome of those talks
+9	Walter M. Brady was named a senior vice president of this insurer in the Canadian head office	He had been vice president in that office
+10	In the director post , Mr. Brown , 38 years old , succeeds Joseph W. Hibben , who retired from the board in August	C. Barr Schuler , 49 , vice president and chief financial officer , was named senior vice president of corporate development and acquisitions , a new post
+5	In the director post , Mr. Brown , 38 years old , succeeds Joseph W. Hibben , who retired from the board in August	C. Barr Schuler , 49 , vice president and chief financial officer , was named senior vice president of corporate development and acquisitions , a new post
+5	C. Barr Schuler , 49 , vice president and chief financial officer , was named senior vice president of corporate development and acquisitions , a new post	Phillip J. Stuecker , 37 , vice president , secretary and treasurer , was named vice president of finance and chief financial officer
+9	Mr. Koenig will build the corporate-finance and investment-banking business of Gruntal , which has primarily been a retail-based firm	He was chairman and co-chief executive officer of Ladenburg , Thalmann & Co. until July , when he was named co-chairman of the investment-banking firm along with Howard L. Blum Jr. , who then became the sole chief executive
+5	In addition , on Jan. 1 , Thomas A. Bennett , 52 , will become vice chairman and chief operating officer of Wachovia and Wachovia Bank & Trust , filling a vacancy left by the retired Hans W. Wanders in April	Mr. Bennett will continue as executive in charge of the North Carolina banking operation
+8	The August increase followed a 0.3 % decline in July	During the past four months , retail sales have remained generally weak , advancing an average 0.2 % a month , the agency said
+10	The trade surplus with Europe was pegged at $ 414 million , down 57 % from a year ago	South Korean exports to Europe dropped 5.3 % to $ 3.02 billion while imports from there went up 17 % to $ 2.61 billion
+5	The trade surplus with Europe was pegged at $ 414 million , down 57 % from a year ago	South Korean exports to Europe dropped 5.3 % to $ 3.02 billion while imports from there went up 17 % to $ 2.61 billion
+5	Semifinished goods turned in a strong showing , with a monthly rise of 2 % and a year-on-year advance of 3 %	Food production was ahead 1.7 % from June and 5.3 % from a year earlier
+5	Semifinished goods turned in a strong showing , with a monthly rise of 2 % and a year-on-year advance of 3 % .Food production was ahead 1.7 % from June and 5.3 % from a year earlier	Output in the capital-goods sector was ahead 0.9 % on a monthly basis and 2.7 % year on year
+2	If further experiments are successful , the work would represent a major advance in research on acquired immune deficiency syndrome	The drug AZT , the only treatment currently on the market , claims only to help stop the spread of AIDS , not to cure it
+8	that the antibody wiped out an average of 60 % of AIDS-infected cells within three days	In some of the experiments , it killed almost all the infected cells
+5	The two said they must still do more laboratory tests , then experiment on animals	They said they hoped to conduct tests on human patients in the U.S. by late next year
+2	they hoped to conduct tests on human patients in the U.S. by late next year	Japan does n't have enough AIDS patients to do significant experimentation in that country
+2	I 'm not so optimistic of its future use in therapeutic methods	some infected cells may not have the relevant antigen and so would n't be killed even after exposure to the antibody
+6	there were still several uncertainties , particularly regarding possible side effects	Our antibody specifically killed infected cells at a very low dose , but it can also kill other cells
+8	Our antibody specifically killed infected cells at a very low dose , but it can also kill other cells	We do n't know the effect of our antibody on the human body
+5	about 35 projects are currently under way in Japan , and that Japanese researchers in the past year have made available three possible cures to American researchers for clinical tests	that when scientists from the two countries meet again in January in New Orleans , the Japanese will present at least three more drugs for human testing
+5	its shareholders accepted only 6.3 % of the convertible capital bonds , but that the rest of the issue will be taken up by underwriters	that 6.3 % level marked the poorest showing for any major British rights issue since the 1987 global stock market crash
+2	It is close to being a record undersubscription	Fund managers do n't like to have rights issues that do n't have an obvious reason
+1	Fund managers do n't like to have rights issues that do n't have an obvious reason	The obvious reason was ( for British Air ) to buy a stake in United Airlines
+2	But except for the embarrassment , British Air will emerge relatively unscathed from the flopped issue	Underwriters led by Lazard Brothers & Co. will pick up the rest of the airline 's offer of four convertible capital bonds for every nine common shares
+1	Underwriters led by Lazard Brothers & Co. will pick up the rest of the airline 's offer of four convertible capital bonds for every nine common shares	Lazard and other primary underwriters have reduced or eliminated their exposure by sub-underwriting the issue among U.K. institutional investors
+1	Lazard and other primary underwriters have reduced or eliminated their exposure by sub-underwriting the issue among U.K. institutional investors	The ( paper ) loss here is very small '' for these sub-underwriters
+8	Lazard and other primary underwriters have reduced or eliminated their exposure by sub-underwriting the issue among U.K. institutional investors	The ( paper ) loss here is very small '' for these sub-underwriters
+2	And instead of buying the UAL stake , the U.K. carrier will be able to reduce its high debt level and build an acquisition war chest	From a cash flow point of view , British Airways is better off not being in United Airlines in the short term
+5	From a cash flow point of view , British Airways is better off not being in United Airlines in the short term	It gives them some cash in the back pocket for when they want to do something
+8	The airline 's share price already is far below the 210 pence ( $ 3.33 ) level seen after the company announced the rights issue in late September	In late trading on London 's Stock Exchange yesterday , the shares were off three pence at 194 pence
+8	But British Air 's withdrawal from the UAL buy-out could have further repercussions	that the move has set off a board room split
+1	that the move has set off a board room split , which may lead to the resignation of Sir Colin Marshall , the carrier 's chief executive officer	The stories are rubbish
+2	The stories are rubbish	There is no difference of opinion between ( Chairman ) Lord King and Sir Colin on any aspect of company policy
+0	Six months ago , as some personnel specialists saw it , a perception that President Bush really cared about fair employment -- after what they said was eight years of Reagan-era neglect -- was prodding top management to raise hiring goals for females , blacks and other minorities	The perception lingers
+2	But so far there 's little evidence the `` new urgency '' is trickling down to the managers who actually do hiring	Is there really a commitment or an illusion of activity
+6	And he questions the White House dedication	I do n't think the Bush administration has done anything , '' he says
+1	I do n't think the Bush administration has done anything , '' he says	Recruiter Donald Clark does note an increase in searches for minority candidates
+5	Du Pont Co. in a couple of units has installed objective tests based on earnings or return on equity	Many companies have set up machinery to assure workers a fair shake
+6	At most firms , though , it 's the immediate supervisor who decides the merit increases subordinates will be paid	Managers have `` some very broad discretion
+5	Managers have `` some very broad discretion	Unocal Corp. 's top management sets guidelines , but line supervisors slice up the merit pie
+1	Lotus Development Corp. feeds its evaluations into a computer , but only for storage ; the decisions are made by supervisors	Hershey Foods Corp. strives for fairness by basing increases on quarterly reviews , annual appraisals and meetings with workers
+1	Hershey Foods Corp. strives for fairness by basing increases on quarterly reviews , annual appraisals and meetings with workers	At Chemfix Technology Inc. , each supervisor 's recommendation must be approved by the next boss up the line , and then sanctioned by a salary review committee
+8	the companies earn more and win a bigger market share when their American employees get a voice in planning , product development and design , including decision-making back in Japan	You ca n't hire competent Americans and say , ` Let them run only their own show
+8	The Japanese also are accused of keeping their cards too close to their vests	Some Japanese executives are not yet . . . comfortable about sharing strategic information with their American colleagues
+8	THE HOUSE votes down a proposal to put pension plans under the control of joint labor-management boards	Some consultants had insisted it would n't work
+6	LONG-TERM care insurance gains favor	More than half the people surveyed for the Employee Benefit Research Institute say they would be willing and able to pick up most of the cost of the coverage
+5	OUSTED EXECUTIVES over 50 years old take slightly less time than their younger colleagues to find a job -- 3.23 months vs. 3.26 for the juniors -- outplacement firm Challenger , Gray & Christmas finds	It 's the first time in the survey 's 15 years that the over-50 group came out ahead
+2	FEAR OF AIDS hinders hiring at few hospitals	Dedication runs high
+8	Wafaa El-Sadr , who heads the AIDS program at New York City 's Harlem Hospital Center , ca n't find help	I 've been recruiting every single day since it 's been identified that many AIDS patients come from the inner city
+5	I 've been recruiting every single day since it 's been identified that many AIDS patients come from the inner city	She was the only staff physician available to treat AIDS patients last summer and now she has the help of only two doctors part time
+5	it has n't had any problem recruiting , even after a nurse contracted the virus while injecting an AIDS patient	I can tell you that nobody quit over it
+5	I can tell you that nobody quit over it	No one panicked
+5	Parkland Memorial Hospital in Dallas says it has n't had any problem recruiting , even after a nurse contracted the virus while injecting an AIDS patient . `` I can tell you that nobody quit over it.No one panicked , '' a spokeswoman says	St. Paul Medical Center , also in Dallas , sees only a `` minimal erosion '' of support staff due to AIDS
+5	Parkland Memorial Hospital in Dallas says it has n't had any problem recruiting , even after a nurse contracted the virus while injecting an AIDS patient . `` I can tell you that nobody quit over it.No one panicked , '' a spokeswoman says.St . Paul Medical Center , also in Dallas , sees only a `` minimal erosion '' of support staff due to AIDS	Yale-New Haven Hospital sees no problem , says John Fenn , the chief of staff
+8	THE CHECKOFF : At least somebody gains on layoffs	The Association of Outplacement Consulting Firms says the industry 's volume has soared tenfold since 1980 , to $ 350 million a year
+2	And somebody loses on the expected repeal of Section 89 , the benefits test fought by most employers	software producers had each invested hundreds of thousands of dollars in programs that now have no use
+1	With many rural districts yet to report ballots , election officials estimate support for Christian Democrats fell an average five percentage points statewide	The left-of-center Social Democrats and the environmental Greens party posted mixed results
+2	International investigators urged Britain to allow prosecution of suspected Nazi war criminals who took refuge there after 1945	Under current law , such suspects are immune from prosecution for acts committed while not British citizens
+1	it will again take back illegal immigrants caught crossing into the British colony	China had refused to repatriate citizens who sneaked into Hong Kong illegally since early this month , when the colony allowed a dissident Chinese swimmer to flee to the U.S
+2	China had refused to repatriate citizens who sneaked into Hong Kong illegally since early this month , when the colony allowed a dissident Chinese swimmer to flee to the U.S	About 1,100 Chinese were awaiting repatriation yesterday
+8	But the Japanese Fisheries Association criticized moves to ban the practice in international waters	`` It is really unfortunate for human beings to be swayed by emotional discussions the association said
+8	Workers at Peugeot S.A. 's car plant at Sochaux , in eastern France , voted to end a six-week-old strike that has cost the Peugeot group production of 60,000 automobiles	The strikers voted to accept a series of management proposals that will give them a higher basic wage , better profit-sharing benefits and bigger annual bonuses
+5	The strikers voted to accept a series of management proposals that will give them a higher basic wage , better profit-sharing benefits and bigger annual bonuses	the vote at Sochaux is expected to be followed by a similar move at the company 's assembly plant at Mulhouse , where the number of strikers has been whittled down to 80
+5	when the union and De Beers arranged to reopen negotiations	the company had offered to increase the minimum wage by 18 % , while the union was demanding 26.6 %
+1	the company had offered to increase the minimum wage by 18 % , while the union was demanding 26.6 %	Before the two parties resumed talks last week , De Beers offered 17 % and the union wanted 37.6 %
+8	Japanese tourists will be told to take care when photographing earthquake damage in San Francisco	The association issued an advisory to its 1,685 member agencies following a report from the Foreign Ministry that picture-taking by Japanese tourists in earthquake-stricken areas was causing ill feeling among local residents
+1	In an Oct. 10 editorial-page article , `` It 's the World Bank 's Turn to Adjust , '' Paul Craig Roberts lays most of the blame for what ails developing countries at the doorstep of the World Bank	The article is , unfortunately , replete with outrageous distortions
+1	One of Mr. Roberts 's observations is that the Bank 's own loan portfolio is in deep trouble because of its lending to developing countries	This is just not so
+4	This is just not so	The reality is that Bank finances are rock solid
+6	The reality is that Bank finances are rock solid	As of June 30 , 1989 -- the day our past fiscal year came to a close -- only 4.1 % of the Bank 's portfolio was affected by arrears of over six months
+5	Moreover , the Bank follows a prudent provisioning policy and has set aside $ 800 million against possible loan losses	For the same fiscal year , by the way , the Bank 's net income was a robust $ 1.1 billion after provisions
+1	Another of Mr. Roberts 's criticisms is that Bank lending has done more harm than good `` by implanting the wrong incentives and deflecting energy away from economic development	Here , too , Mr. Roberts is way off the mark
+2	Here , too , Mr. Roberts is way off the mark	The reality is that Bank loans have been linked to policy improvements for 40 years
+6	By and large , these efforts have borne fruit	In my home region , Latin America , much of the existing infrastructure base -- an important building block for development -- has been financed by the World Bank
+1	Mr. Roberts also takes a swipe at the Bank 's adjustment lending	What are the facts on this type of lending
+6	What are the facts on this type of lending	The Bank has been making adjustment loans for 10 years
+5	The Bank has been making adjustment loans for 10 years	As their name implies , these operations are linked to far-reaching policy reforms that aim at helping borrowing countries get back on the growth path and at enhancing their credit-worthiness
+2	Support for the private sector has been a longstanding concern of the Bank 's	Over the years , it has helped encourage investments by entrepreneurs in the Third World through its extensive credit operations and through loans and investments by the International Finance Corp
+1	Over the years , it has helped encourage investments by entrepreneurs in the Third World through its extensive credit operations and through loans and investments by the International Finance Corp	Most recently , the Bank Group has been expanded to include the Multilateral Investment Guarantee Agency to stimulate direct foreign investment in developing countries by offering guarantees against noncommercial risk and advice to member countries on how to improve their business climate
+5	the agency will sell 589 midsized supermarkets and several food-production plants and warehouses beginning early next year	The agency will withdraw from the production of nine food products
+0	Conasupo controls prices on agricultural goods and operates retail outlets where basic consumer items are sold at state-subsidized prices	Business leaders have long criticized the agency as a leading example of bureacratic waste
+2	The agency has concluded that contamination may be widespread throughout the mushroom-processing industry in China	The agency wo n't allow mushrooms that were canned or packed in brine at any Chinese plant to enter the U.S. until `` satisfactory sanitation-control measures are implemented in China to prevent '' bacterial contamination
+9	On May 19 , the FDA began detaining Chinese mushrooms in 68-ounce cans after more than 100 people in Mississippi , New York and Pennsylvania became ill from eating tainted mushrooms	In subsequent tests , the agency found smaller-size cans from several Chinese plants to be similarly contaminated
+2	The outbreaks were traced to staphylococcus aureus , a type of bacteria that produces a toxin capable of surviving the high temperatures used in canning vegetables	A recall of the mushrooms blamed for the food poisoning began in early March
+8	In 1987 , China exported 65 million pounds of mushrooms , valued at $ 47 million , to the U.S	The shipments went mostly to food-service distributors that supply pizzerias and restaurants
+2	that the Beijing government has taken `` many effective measures '' to stop the mushroom contamination and is further investigating the underlying causes	the problem will be solved `` very soon
+1	Your Sept. 26 `` Politics & Policy '' article about William Bennett 's Emergency Drug Plan for Washington gives the impression that the FBI has not been nor is actively involved	This is not the case
+1	The FBI is very supportive of and an active participant in Mr. Bennett 's initiative	It was agreed at the outset of the Washington Drug Initiative that the FBI 's role would be to continue targeting the major drug traffickers through our National Drug Strategy
+8	to continue targeting the major drug traffickers through our National Drug Strategy	Through these investigations we do not focus on the street drug user , but rather we target and attack major drug-trafficking organizations that control a large segment of the drug market
+6	but rather we target and attack major drug-trafficking organizations that control a large segment of the drug market	The trial of Raful Edmond III in Washington serves to highlight our efforts in this area and the results achieved through our excellent working relationship with the Drug Enforcement Administration and the Metropolitan Police Department ( MPD
+5	Under the new terms , New World will still pay $ 540 million for Ramada 's hotel business , subject to adjustment at closing , but Ramada will now reimburse New World for $ 10 million in expenses	Prime will still manage Ramada 's domestic franchise system when the sale closes
+2	Ramada 's stock rose 87.5 cents on the news to close at $ 11.25 in composite New York Stock Exchange trading	The announcement dispelled some Wall Street observers ' fears that New World might demand a huge premium for the delay , or scrap the deal entirely
+5	One major advantage of the revised plan is that Aztar will have far less debt than under the old terms	They 'll go from being one of the most leveraged to one of the least leveraged casino companies
+5	But long-term Treasury bonds staged a modest rally , with prices on most issues rising about half a point , or $ 5 for each $ 1,000 face amount	The dollar sagged against other major currencies in lethargic trading
+2	the divergence between the stock and bond markets is a sign of growing unease about the economic outlook	A sinking economy depresses corporate earnings and thus stock prices , but it buoys bond prices as interest rates fall
+2	That unease is expected to grow today when the government reports on September durable goods orders and again Thursday when the first assessment of third-quarter economic growth is released	durable goods orders fell about 1 % , compared with a 3.9 % gain in August , and that growth in the third quarter slowed to about 2.3 % from the second quarter 's 2.5
+8	We think we 're on target in looking for renewed economic deterioration	Corporate profits are going to decrease faster than interest rates will fall , and the probability is that we 'll see negative economic growth in the fourth quarter
+8	Stock prices slumped in sluggish trading	Volume on the New York Stock Exchange totaled 135.9 million shares
+5	Volume on the New York Stock Exchange totaled 135.9 million shares	Declining issues on the Big Board were ahead of gainers , 1,012 to 501
+6	Bond prices rallied	The yield on the Treasury 's benchmark 30-year bond slipped to 7.93 %
+8	The dollar weakened against most other major currencies	In late New York trading , the dollar was quoted at 1.8470 marks and 141.90 yen , compared with 1.8578 marks and 142.43 yen late Friday
+5	The poll conducted by Peter D. Hart Research Associates interviewed 2,064 adults age 18 and older from June 15 to June 30 , 1989	The poll conducted by the Roper Organization interviewed 2,002 adults age 18 and older from July 7 to July 15 , 1989
+1	For each poll , the odds are 19 out of 20 that if pollsters had sought to survey every household in the U.S. using the same questionnaire , the findings would differ from these poll results by no more than 2 1/2 percentage points in either direction	The margin of error for subgroups -- for example , married women with children at home -- would be larger
+2	Even if Mr. Crandall is correct , he of all people must realize our society relies on competition to keep prices at a competitive level	In 1986 , he settled an antitrust suit based on a taped telephone conversation of him proposing to Braniff 's president that they both raise fares 20 %
+6	Even if Mr. Crandall is correct , he of all people must realize our society relies on competition to keep prices at a competitive level	In 1986 , he settled an antitrust suit based on a taped telephone conversation of him proposing to Braniff 's president that they both raise fares 20 %
+5	When I asked American Airlines for its side of the story for use in my MBA class , where I teach business ethics , it did not respond	Perhaps the ethics of an industry 's leader filters down and is one of the factors that ultimately shapes consumer trust in that industry
+8	Earlier this year , Meredith sold its first such package for $ 3 million to Kraft Inc. , now a unit of New York-based Philip Morris Cos	The Kraft package included a specially published cookbook , a national free-standing insert in Sunday newspapers , and a Kraft `` advertorial '' section that ran in five Meredith magazines
+1	but he would n't disclose their names	Sources close to the company and ad agencies that work with Meredith said leading advertisers in consumer electronics , packaged goods and automotive products were among those negotiating ad packages with the Meredith group
+6	Other magazine publishing companies have been moving in the same direction	The New York Times Co. 's Magazine Group earlier this year began offering advertisers extensive merchandising services built around buying ad pages in its Golf Digest magazine
+5	The New York Times Co. 's Magazine Group earlier this year began offering advertisers extensive merchandising services built around buying ad pages in its Golf Digest magazine	Time Warner Inc. recently formed a `` synergy department '' to seek out ways to offer advertisers packages that could combine Time 's magazines with Warner products such as videocassettes
+8	Meredith is the leader in providing multimedia packages	They may get passed up later when other publishers get their acts together , but for now they are the quickest offering the most extensive plan
+5	But the marketplace changed	Advertisers now say ` Help us improve our image and extend our selling season
+8	Advertisers now say ` Help us improve our image and extend our selling season	They are coming to publishers looking for ideas
+2	And most of these are absolutely unnecessary	just about all of them could have been avoided
+6	but when reviewing those traps one sees just about all of them could have been avoided	An accountant did not review the seller 's books before buying a business
+8	An accountant did not review the seller 's books before buying a business	I was naive
+1	I guess I was naive , '' he said	There is a more descriptive word to describe his lapse of common sense
+2	Corporate managers who want to start their own business are the highest failure risks	They know all the answers and are not used to working more than 40 hours a week
+1	They know all the answers	The blue-collar worker who decides to start a business will listen and take advice
+2	The blue-collar worker who decides to start a business will listen and take advice	His humility gives him a much better chance of success
+5	that they gather a small group of advisers around them , listen to what they have to say , prepare a business plan and they are on their way	Successful American business owners do the same thing
+1	Successful American business owners do the same thing	Unfortunately , they are in the minority
+2	Avoiding failure is easy	It 's unfortunate so many must learn the hard way
+8	I think it 's more an issue of style	I would view it as a net positive
+2	I would view it as a net positive	The company can go about its business
+2	The company can go about its business	They 're in the midst of a turnaround
+8	that neither Mr. Fireman nor Mr. LaBonte would be available for comment	We will not be commenting beyond the news release
+5	For example , Toronto-based Telemedia Inc. will publish Eating Well , a new food and health magazine due out next summer	New York-based Hearst Corp. this fall plans to publish its first issue of 9 Months , a magazine for expectant mothers , and has already launched American Home
+2	This is an impressive show of faith in the future of the magazine industry	Entrepreneurs do n't rush to get into a stagnant or declining industry
+8	And despite the recent tough advertising climate , industry figures released at the meeting here indicate things may be turning around	For the first nine months , advertising pages in consumer magazines tracked by the Publishers Information Bureau increased 4 % from the same period last year , to 125,849 pages
+5	For the first nine months , advertising pages in consumer magazines tracked by the Publishers Information Bureau increased 4 % from the same period last year , to 125,849 pages	Total magazine ad revenue for the same period increased 12 % to $ 4.6 billion
+2	Total magazine ad revenue for the same period increased 12 % to $ 4.6 billion	Though for some magazines categories a tough advertising climate persists , the industry in general is doing well compared with the newspaper industry
+6	Though some magazines are thriving , the magazine publishing industry remains a risky business	Within the same nine months , News Corp. closed down In Fashion , a once-promising young woman 's fashion magazine , Drake Publications Inc. has folded the long-troubled Venture magazine , and Lang Communications has announced Ms. magazine , after 17 years , will no longer carry advertising as of January
+2	and Lang Communications has announced Ms. magazine , after 17 years , will no longer carry advertising as of January	Lang is cutting costs and will attempt to operate the magazine with only subscription revenue
+5	Meanwhile , American Health Partners , publisher of American Health magazine , is deep in debt , and Owen Lipstein , founder and managing partner , is being forced to sell the magazine to Reader 's Digest Association Inc	Mr. Lipstein 's absence from the meeting here raised speculation that the sale is in trouble
+1	Mr. Lipstein 's absence from the meeting here raised speculation that the sale is in trouble	Mr. Lipstein said in a telephone interview from New York that the sale was proceeding as planned
+5	that the sale was proceeding as planned	The magazine is strong
+1	The magazine is strong	It 's simply the right time to do what we are doing
+8	Magazines can no longer be considered institutions	Publishers will find that some magazines have served their purpose and should die
+8	Publishers will find that some magazines have served their purpose and should die	Magazines could , like other brands , find that they have only a limited life
+6	There are also indications that the number of magazine entrepreneurs , traditionally depended upon to break new ground with potentially risky start-ups , are dwindling	More than ever , independent magazines and small publishing groups are being gobbled up by larger publishing groups , such as American Express Publishing Corp. , a unit of American Express Co. , and Conde Nast Publications Inc. , a unit of Advance Publications Inc. , which are consolidating in order to gain leverage with advertisers
+6	Some entrepreneurs are still active , though	Gerry Ritterman , president of New York-based Network Publishing Corp. , earlier this year sold his Soap Opera Digest magazine to Rupert Murdoch 's News Corp
+9	Gerry Ritterman , president of New York-based Network Publishing Corp. , earlier this year sold his Soap Opera Digest magazine to Rupert Murdoch 's News Corp	that in the next six months he will take $ 50 million from the Soap Opera Digest sale to acquire new magazines
+0	Mr. Ritterman said that in the next six months he will take $ 50 million from the Soap Opera Digest sale to acquire new magazines	He would not reveal which magazines he is considering
+8	The magazines I am looking for are underdeveloped	They could be old or new , but they are magazines whose editorial quality needs to be improved
+9	They could be old or new , but they are magazines whose editorial quality needs to be improved	They will be the next hot magazines
+10	the government 's `` luck '' in keeping the bank open -- despite being the then-biggest U.S. bank failure -- prevented `` shock waves around the country and around the world	Federal officials who had been probing the bank for months arranged a merger with European-American Bank & Trust , owned by six foreign banks , to avert the closedown
+9	The crisis had peaked on May 10 , 1974 , when the bank disclosed `` severe '' foreign-exchange losses due to `` unauthorized '' trading	Massive withdrawals followed and there was a brief rescue attempt , with political undertones , including $ 1.77 billion in Federal Reserve loans
+6	Within six years many figures were convicted for their illegal abuse of Franklin funds	In June 1980 , Michele Sindona -- an Italian financier who in July 1972 had bought a 22 % block of Franklin 's stock from Loews Corp. , headed by Laurence A. Tisch -- was sentenced to 25 years in prison after being convicted of fraud and perjury
+5	after being convicted of fraud and perjury	Included was the charge that Sindona siphoned $ 45 million of Franklin funds for his other ventures
+5	A squiggly line snakes across a video screen , gyrating erratically as subjects with hand-held computers register their second-by-second reactions to a speaker 's remarks	Agreement , disapproval , boredom and distraction all can be inferred from the subjects ' twist of a dial
+5	Agreement , disapproval , boredom and distraction all can be inferred from the subjects ' twist of a dial	In another experiment , an elaborate chart with color codes reveals how people 's opinions were shaped -- and how they can be reshaped
+4	Donald Vinson , who oversees the experiments , is n't some white-coated researcher	He heads Litigation Sciences Inc. , the nation 's largest legal consulting firm
+8	Little known outside the legal world but a powerhouse within , Litigation Sciences , a unit of Saatchi & Saatchi PLC , employs more than 100 psychologists , sociologists , marketers , graphic artists and technicians	Twenty-one of its workers are Ph.D.s
+5	Recently , Litigation Sciences helped Pennzoil Co. win a $ 10.5 billion jury verdict against Texaco Inc	It advised the National Football League in its largely successful defense of antitrust charges by the United States Football League
+5	Largely as a result , Litigation Sciences has more than doubled in size in the past two years	Its 1988 revenue was $ 25 million
+2	Meanwhile , competitors are being spawned almost daily ; some 300 new businesses -- many just one-person shops -- have sprung up	the industry 's total revenues approach $ 200 million
+2	the industry 's total revenues approach $ 200 million	In any high-stakes case that one side or the other -- or even both -- is using litigation consultants
+2	Despite their ubiquity , the consultants are n't entirely welcome	the social scientists ' vision of the American jury system as a far cry from the ideal presented in civics texts and memorialized on the movie screen
+6	and memorialized on the movie screen	In the film classic `` Twelve Angry Men , '' the crucible of deliberations unmasks each juror 's bias and purges it from playing a role in the verdict
+2	In the film classic `` Twelve Angry Men , '' the crucible of deliberations unmasks each juror 's bias and purges it from playing a role in the verdict	After hours of conflict and debate , that jury focuses on the facts with near-perfect objectivity
+2	After hours of conflict and debate , that jury focuses on the facts with near-perfect objectivity	In real life , jurors may not always work that way , but some court observers question why they should n't be encouraged to do so rather than be programmed not to
+5	Litigation consulting is highly manipulative	The notion they try to sell is that juries do n't make decisions rationally
+2	But the effort is also being made to try and cause jurors not to decide things rationally	I find it troubling
+8	that consultants can be very effective	It 's gotten to the point where if the case is large enough , it 's almost malpractice not to use them
+2	that the consultants ' growing influence exacerbates the advantage of litigants wealthy enough to afford such pricey services	The affluent people and the corporations can buy it , the poor radicals { in political cases } get it free , and everybody in between is at a disadvantage , and that 's not the kind of system we want
+6	Sophisticated trial consulting grew , ironically , from the radical political movements of the 1960s and 1970s before finding its more lucrative calling in big commercial cases	The Harrisburg 7 trial in 1972 , in which Daniel Berrigan and others were charged with plotting anti-war-related violence , was a landmark
+5	In that case , a group of left-leaning sociologists interviewed 252 registered voters around Harrisburg	The researchers discovered that Episcopalians , Presbyterians , Methodists and fundamantalist Protestants were nearly always against the defendants
+2	The defense also learned that college-educated people were uncharacteristically conservative about the Vietnam War	A more blue-collar panel became a second aim
+8	Ultimately , that carefully picked jury deadlocked with a 10-2 vote to acquit , and the prosecution decided not to retry the case	Litigation consulting had arrived
+10	The fledgling science went corporate in 1977 when International Business Machines Corp. hired a marketing professor to help defend a complex antitrust case	The problem for IBM trial lawyers Thomas Barr and David Boies was how to make such a highly technical case understandable
+2	The problem for IBM trial lawyers Thomas Barr and David Boies was how to make such a highly technical case understandable	As the trial progressed , they were eager to know if the jury was keeping up with them
+5	Thus , the `` shadow '' jury was born	Mr. Vinson , the professor , got the law bug and formed Litigation Sciences
+5	Mr. Vinson , the professor , got the law bug and formed Litigation Sciences	IBM won the case
+2	The hardest thing in any complex case is to retain objectivity and , in some sense , your ignorance	What you look for in a shadow jury is very much what you do when you give an opening argument to your wife or a friend and get some response to it
+2	when you give an opening argument to your wife or a friend and get some response to it	A shadow jury is a way to do that in a more systematic and organized way
+9	Energy Transportation retained Litigation Sciences , at a cost of several hundred thousand dollars , to poll , pre-try , profile and shadow	Just before the actual closing arguments , the firm put the case to a vote of the five shadow jurors , each of whom was being paid $ 150 a day
+8	Just before the actual closing arguments , the firm put the case to a vote of the five shadow jurors , each of whom was being paid $ 150 a day	The jurors , who did n't know which side had retained them , decided for Energy Transportation , and awarded $ 500 million in damages
+1	The jurors , who did n't know which side had retained them , decided for Energy Transportation , and awarded $ 500 million in damages	The real jury returned days later with a $ 345 million victory for Energy Transportation
+8	It 's just like weather forecasting	It 's often wrong , but it 's better than consulting an Indian rain dancer
+2	Forecasting is only one part of Litigation Sciences ' work	Changing the outcome of the trial is what really matters
+6	If it is a case in which the client seeks punitive damages , for example , depressed , underemployed people are far more likely to grant them	Someone with a master 's degree in classical arts who works in a deli would be ideal
+1	So would someone recently divorced or widowed	Since Litigation Sciences generally represents the defense , its job is usually to help the lawyers identify and remove such people from the jury
+5	For personal-injury cases , Litigation Sciences seeks defense jurors who believe that most people , including victims , get what they deserve	Such people also typically hold negative attitudes toward the physically handicapped , the poor , blacks and women
+2	Litigation Sciences does n't make moral distinctions	If a client needs prejudiced jurors , the firm will help find them
+2	If a client needs prejudiced jurors , the firm will help find them	We do n't control the facts.They are what they are
+8	We do n't control the facts	They are what they are
+2	But any lawyer will select the facts and the strategy to employ	In our system of advocacy , the trial lawyer is duty bound to present the best case he possibly can
+5	Once a jury is selected , the consultants often continue to determine what the jurors ' attitudes are likely to be and help shape the lawyers ' presentation accordingly	Logic plays a minimal role here
+4	Logic plays a minimal role here	More important are what LSI calls `` psychological anchors '' -- a few focal points calculated to appeal to the jury on a gut level
+2	In one personal-injury case , a woman claimed she had been injured when she slipped in a pool , but the fall did n't explain why one of her arms was discolored bluish	By repeatedly drawing the jury 's attention to the arm , the defense lawyers planted doubt about the origin of the woman 's injuries
+5	By repeatedly drawing the jury 's attention to the arm , the defense lawyers planted doubt about the origin of the woman 's injuries	The ploy worked
+2	The ploy worked	The defense won
+8	In a classic defense of a personal-injury case , the consultants concentrate on encouraging the jury to shift the blame	The ideal defense in a case involving an accident is to persuade the jurors to hold the accident victim responsible for his or her plight
+2	Slick graphics , pre-tested for effectiveness , also play a major role in Litigation Sciences ' operation	that people absorb information better and remember it longer if they receive it visually
+8	that people absorb information better and remember it longer if they receive it visually	Computer-generated videos help
+2	Computer-generated videos help	The average American watches seven hours of TV a day
+2	The average American watches seven hours of TV a day	They are very visually sophisticated
+6	Lawyers remain divided about whether anything is wrong with all this	Supporters acknowledge that the process aims to manipulate , but they insist that the best trial lawyers have always employed similar tactics
+8	but they insist that the best trial lawyers have always employed similar tactics	They may not have been able to articulate it all , but they did it
+2	They may not have been able to articulate it all , but they did it	What you have here is intuition made manifest
+8	They may not have been able to articulate it all , but they did it	What you have here is intuition made manifest
+5	Many lawyers maintain that all 's fair in the adversary system as long as no one tampers with the evidence	Others point out that lawyers in small communities have always had a feel for public sentiment -- and used that to advantage
+2	Litigation consulting is n't a guarantee of a favorable outcome	that in one in 20 cases it was flatout wrong in its predictions
+5	Litigation Sciences concedes that in one in 20 cases it was flatout wrong in its predictions	A few attorneys offer horror stories of jobs botched by consultants or of overpriced services
+6	Some litigators scoff at the notion that a sociologist knows more than they do about what makes a jury tick	The essence of being a trial lawyer is understanding how people of diverse backgrounds react to you and your presentation , '' says Barry Ostrager of Simpson Thacher & Bartlett , who recently won a huge case on behalf of insurers against Shell Oil Co
+0	For more than a decade , Mr. Etzioni , the sociologist , has been a leading critic of the masseurs	There 's no reason to believe that juries rule inappropriately
+2	But the last thing you want to do is manipulate the subconscious to make them think better	What you then do is you make them think inappropriately
+1	In most civil cases , judges allow each side three such challenges	For complex cases , judges sometimes allow many more
+2	Mr. Etzioni also suggests forbidding anyone from gathering background information about the jurors	Some courts release names and addresses , and researchers can drive by houses , look up credit ratings , and even question neighbors
+6	Even some lawyers who have used consultants to their advantage see a need to limit their impact	Mr. Boies , the first lawyer to use Mr. Vinson 's services , cautions against courts ' allowing extensive jury questioning ( known as voir dire ) or giving out personal information about the jurors
+2	Mr. Boies , the first lawyer to use Mr. Vinson 's services , cautions against courts ' allowing extensive jury questioning ( known as voir dire ) or giving out personal information about the jurors	The more extensive the voir dire , the easier you make it for that kind of research to be effective
+5	One award is part of a Department of Defense contract to Loral Rolm Mil-Spec Computers and could be valued at more than $ 100 million over five years	The other involves the sale of about 35 of the company 's high-end workstations to the National Institutes of Health
+2	The company 's on a roll	No other { computer } vendor offers graphics performance that good for their price
+8	which has been dubbed by some as `` motion-picture computing	This is a style of `` visual '' computing that provides three-dimensional , color models of everything from the inside of a house to the latest in women 's fashion
+6	In addition , the company has made it tough on competitors by offering a stream of desktop computers at sharply lower prices	A year ago , Silicon Graphics introduced a model priced at $ 15,000 -- almost as cheap as mainstream workstations that do n't offer special graphics features
+8	Silicon Graphics also plans to unveil even less expensive machines in the near future	It 's pretty safe to assume we can bring the cost down of these systems by 30 % to 40 % a year
+2	Silicon Graphics ' strategy seems to be paying off	Revenue for its first quarter ended Sept. 30 was $ 86.4 million , a 95 % increase over the year-ago period
+5	Revenue for its first quarter ended Sept. 30 was $ 86.4 million , a 95 % increase over the year-ago period	Profit was $ 5.2 million , compared with $ 1 million for the year-ago quarter
+5	They , or at least something less efficient than today 's thin-walled units , may soon be making a comeback	That something , whatever it is , could add as much as $ 100 to the $ 600 or so consumers now pay for lower-priced refrigerators
+10	These and other expensive changes in products ranging from auto air conditioners to foam cushioning to commercial solvents are in prospect because of something called the Montreal Protocol , signed by 24 nations in 1987	In one of the most sweeping environmental regulatory efforts to date -- involving products with an annual value of $ 135 billion in the U.S. alone -- the signatories agreed to curtail sharply the use of chlorofluorocarbons ( CFCs
+2	In one of the most sweeping environmental regulatory efforts to date -- involving products with an annual value of $ 135 billion in the U.S. alone -- the signatories agreed to curtail sharply the use of chlorofluorocarbons ( CFCs	World-wide production would be cut in half by 1998
+5	The U.S. Senate liked the treaty so well it ratified it by a vote of 89 to 0	Not to be outdone , George Bush wants CFCs banished altogether by the year 2000 , a goal endorsed at an 80-nation U.N. environmental meeting in Helsinki in the spring
+2	That 's a lot of banishment , as it turns out	CFCs are the primary ingredient in a gas , often referred to by the Du Pont trade name Freon , which is compressed to liquid form to serve as the cooling agent in refrigeration and air-conditioning equipment
+5	CFCs are the primary ingredient in a gas , often referred to by the Du Pont trade name Freon , which is compressed to liquid form to serve as the cooling agent in refrigeration and air-conditioning equipment	Gases containing CFCs are pumped into polyurethane to make the foam used in pillows , upholstery and insulation
+5	Gases containing CFCs are pumped into polyurethane to make the foam used in pillows , upholstery and insulation	Polyurethane foam is a highly efficient insulator , which accounts for why the walls of refrigerators and freezers can be thinner now than they were back in the days when they were insulated with glass fiber
+2	But even though by some estimates it might cost the world as much as $ 100 billion between now and the year 2000 to convert to other coolants , foaming agents and solvents and to redesign equipment for these less efficient substitutes , the Montreal Protocol 's legions of supporters say it is worth it	that CFCs are damaging the earth 's stratospheric ozone layer , which screens out some of the sun 's ultraviolet rays
+8	I would be the first to admit that there is not a complete consensus in the scientific community on either one of these problems	In the kind of literature I read I come across countervailing opinions quite frequently
+8	But the nature of the problem is such that many others feel it has to be addressed soon , before all the evidence is in	We ca n't afford to wait
+2	But does it have to be so soon	that even if CFCs were released into the atmosphere at an accelerating rate , the amount of ozone depletion would be only 10 % by the middle of the next century
+5	that even if CFCs were released into the atmosphere at an accelerating rate , the amount of ozone depletion would be only 10 % by the middle of the next century	It 's easy to get something comparable by simply moving to a higher altitude in the U.S
+2	and the importance of human-generated CFCs in reducing it is largely a matter of conjecture	The ozone layer is constantly in motion and thus very hard to measure
+6	and the importance of human-generated CFCs in reducing it is largely a matter of conjecture	The ozone layer is constantly in motion and thus very hard to measure
+0	The ozone layer is constantly in motion and thus very hard to measure	What scientists have known since the late 1970s is that there is a hole in the layer over Antarctica that expands or contracts from year to year
+0	Another argument of the environmentalists is that if substitutes are available , why not use them	Mr. Teagan cites a list of substitutes but none , so far , match the nonflammable , nontoxic CFCs
+4	As it happens , Arthur D. Little is not at all interested in throwing cold water on ozone depletion and global warming theories	It is interested in making some money advising industry on how to convert to a world without CFCs
+2	It is interested in making some money advising industry on how to convert to a world without CFCs	There is , after all , big money in environmentalism
+2	Maybe we should ask why it was that Du Pont so quickly capitulated and issued a statement , giving it wide publicity , that it was withdrawing CFCs	Freon , introduced in 1930 , revolutionized America by making refrigeration and air conditioning practical after all
+6	and are trying instead to cash in on them , although they never care to put it quite that way	Du Pont , as it happens , has a potential substitute for CFCs
+5	Imperial Chemical Industries of the U.K. also has one , and is building a plant in Louisiana to produce it	Japanese chemical companies are at work developing their own substitutes and hoping to conquer new markets , of course
+6	There are still others who do n't mind seeing new crises arise	Environmental groups would soon go out of business were they not able to send out mailings describing the latest threat and asking for money to fight it
+5	Environmental groups would soon go out of business were they not able to send out mailings describing the latest threat and asking for money to fight it	University professors and consultants with scientific credentials saw a huge market for their services evaporate when price decontrol destroyed the energy crisis and thus the demand for `` alternative energy
+2	University professors and consultants with scientific credentials saw a huge market for their services evaporate when price decontrol destroyed the energy crisis and thus the demand for `` alternative energy	They needed new crises to generate new grants and contracts
+2	In other words , environmentalism has created a whole set of vested interests that fare better when there are many problems than when there are few	That tends to tilt the public debate toward `` solutions '' even when some of the most knowledgeable scientists are skeptical about the seriousness of the threats and the insistence of urgency
+2	That tends to tilt the public debate toward `` solutions '' even when some of the most knowledgeable scientists are skeptical about the seriousness of the threats and the insistence of urgency	There is an element of make-work involved
+8	With most legislatures adjourned for the year , small business is tallying its scorecard	Much of its attention was spent fighting organized labor 's initiatives on issues the small-business community traditionally opposes -- from raising state minimum wage levels to mandating benefits in health plans
+8	Much of its attention was spent fighting organized labor 's initiatives on issues the small-business community traditionally opposes -- from raising state minimum wage levels to mandating benefits in health plans	While results were mixed in many states , `` small business got by fairly well
+6	Five states -- Oregon , Rhode Island , New Hampshire , Iowa and Wisconsin -- passed bills to boost the minimum wage	Oregon 's rate will rise to $ 4.75 an hour , the nation 's highest , in Jan. 1 , 1991
+5	Oregon 's rate will rise to $ 4.75 an hour , the nation 's highest , in Jan. 1 , 1991	Iowa 's will be the second highest -- at $ 4.65 an hour in January 1992
+8	In 17 central states lawmakers adopted only three of 46 bills mandating health coverage or parental leave	The Illinois Legislature narrowly passed a parental-leave bill , which Gov . James Thompson vetoed , and Iowa and Tennessee amended laws to require that employers pay for breast-cancer exams
+1	Only two states -- Vermont and Washington -- this year joined five others requiring private employers to grant leaves of absence to employees with newborn or adopted infants	Similar proposals were defeated in at least 15 other states
+8	But small business , which generally detests government-mandated benefits , has taken note of the growing number of close votes	It 's just a matter of time before the tide turns
+6	Consequently , small business is taking more `` pro-active '' steps to counter mandated leaves	In Pennsylvania , small businesses are pushing for a voluntary alternative
+5	Triggering the re-examination is a recent city council decision to give preference in letting city contracts to suppliers with a stated policy on child care for their employees	The preferential treatment even applies to awarding small contracts under $ 25,000 and consulting and temporary services -- which often go to the smaller concerns
+1	The preferential treatment even applies to awarding small contracts under $ 25,000 and consulting and temporary services -- which often go to the smaller concerns	Firms are permitted wide flexibility in the child-care arrangements they provide
+1	NOVEMBER BALLOTS will contain few referendum or initiative issues that especially affect small business	In San Francisco , small businesses are urging passage of a local initiative to build a new $ 95 million downtown baseball stadium
+6	Small businesses in suburban Chicago are discovering that an area-code switch Nov. 11 -- to 708 from the familiar 312 -- wo n't be without some costs as they alter stationery , among other things , and notify customers	Wessels & Pautsch , a small St. Charles law firm , plans to mail 500 customers a list of its lawyers ' new phone and fax numbers as well as updated Rolodex cards
+6	But many owners plan to practice frugality -- crossing out the old code and writing in the new one until their stock runs out	Even print-shop operator Clay Smith of Naperville wo n't discard his old supply
+5	Even print-shop operator Clay Smith of Naperville wo n't discard his old supply	He reports his business is up slightly from customers replacing old stock
+1	Previously , regulators insisted that franchisers pre-register such changes with the state -- a costly process taking at least six weeks	Now some negotiated sales that meet a series of tests do n't have to be pre-registered
+8	who qualify as `` sophisticated purchasers	Such buyers must have a minimum net worth of $ 1 million , $ 200,000 annual income , or recent experience in the business area of the franchise being sold
+6	But critics consider the changes regressive	Lewis G. Rudnick , a Chicago lawyer who represents franchisers , contends California is narrowly limiting -- rather than expanding -- opportunities for negotiating sales
+2	California is narrowly limiting rather than expanding -- opportunities for negotiating sales	California regulators historically have misinterpreted their law
+2	City officials feared widespread gridlock on the first day that normal business operations were resumed following last Tuesday 's earthquake	The massive temblor , which killed at least 61 people , severed the Bay Bridge , a major artery to the east , and closed most ramps leading to and from Highway 101 , the biggest artery to the south
+8	mainly because the Bay Area Rapid Transit subway system carried 50 % more passengers than normal	For the first time in memory , it was standing-room only in BART 's sleek , modern railcars
+2	Many commuters who normally drove across the Bay Bridge actually may have reached work a bit faster on BART yesterday , provided they could find a parking space at the system 's jammed stations	In the best of times , the Bay Bridge is the worst commute in the region , often experiencing back-ups of 20 to 30 minutes or more
+6	Not that getting into town was easy	Storm flooding caused back-ups on the freeway , and many commuters had to find rides to BART 's stations , because parking lots were full before dawn
+5	Storm flooding caused back-ups on the freeway , and many commuters had to find rides to BART 's stations , because parking lots were full before dawn	Bus schedules were sometimes in disarray
+1	Her commute from Petaluma , Calif. , normally takes an hour and 15 minutes	Yesterday , she was still waiting at a bus stop after three hours
+8	But while traffic was heavy early in the commute over the Golden Gate , by 8 a.m. it already had thinned out	It 's one of the smoothest commutes I 've ever had
+8	It 's one of the smoothest commutes I 've ever had	It looks like a holiday
+2	It looks like a holiday	a lot of people got scared and stayed home
+1	At the San Mateo Bridge , which connects the San Francisco peninsula with the East Bay , police were surprised at the speed with which traffic moved	Everybody pretty much pitched in and cooperated
+2	There were many indications that the new work hours implemented by major corporations played a big role	The Golden Gate handled as many cars as normally yesterday , but over four hours rather than the usual two-hour crush
+6	There were many indications that the new work hours implemented by major corporations played a big role	The Golden Gate handled as many cars as normally yesterday , but over four hours rather than the usual two-hour crush
+5	The flextime may cut by almost a third the number of PG & E employees working conventional 9-5 hours	Some of the utility 's employees may opt for a four-day workweek , 10 hours a day , to cut the commute by 20 %
+6	Some individuals went to some lengths on their own to avoid the anticipated gridlock	he got up at 3 a.m. to drive into San Francisco from the East Bay
+8	that such extraordinary measures and cooperation may not last	about two-thirds of the motorists crossing the Golden Gate were alone , compared with the normal 70 % rate
+2	Well , mankind can rest easier for now	Though almost everybody at the playing site had been looking for the 26-year-old Soviet to beat the Pennsylvania-based computer , he gave the machine a far worse drubbing than many expected
+8	And when Mr. Kasparov strode into the playing hall , he called the outcome	As if he were Iron Mike , about to enter the ring with a 98-pound weakling , he declared : `` I 'll be able to beat any computer for the next five years
+8	a thorough study of dozens of its games including its notorious whippings of the grandmasters Bent Larsen of Denmark and Robert Byrne of the U.S	Mr. Kasparov was underwhelmed
+2	Mr. Kasparov was underwhelmed	The computer 's mind is too straight , too primitive , '' lacking the intuition and creativity needed to reach the top
+1	The champion apparently was not worried at all about D.T . 's strong points	Its chief builder , Taiwan-born Feng-hsiung Hsu , nicknamed his brainchild `` the Weasel '' for its tactical flair at wriggling out of horrible positions
+8	they needed kryptonite	This became apparent as game one , a Sicilian Defense by Mr. Kasparov , proceeded
+3	This became apparent as game one , a Sicilian Defense by Mr. Kasparov , proceeded	No human can examine millions of moves , but Mr. Kasparov , using his ineffably powerful brain , consistently found very good ones
+9	But the computer did n't play Mr. Short 's ninth move , a key pawn thrust , and its position deteriorated rapidly	Instead of castling , a standard measure to safeguard the king , D.T . made a second-rate rook maneuver at move 13
+5	Instead of castling , a standard measure to safeguard the king , D.T . made a second-rate rook maneuver at move 13 ; then it put a knight offside on move 16	Only two classes of minds would think of this -- very weak human players , and computers
+9	By move 21 , D.T . had fallen into a deep positional trap	It allowed Mr. Kasparov to exchange his dark-squared bishop for one of D.T . 's knights
+2	By move 21 , D.T . had fallen into a deep positional trap.It allowed Mr. Kasparov to exchange his dark-squared bishop for one of D.T . 's knights	Bishops usually are worth slightly more than knights , but in this case Mr. Kasparov was left with a very dangerous knight and D.T . 's surviving bishop was reduced to passivity
+6	Consistently , D.T . was over-optimistic about its chances	When most spectators thought its position hopeless , the computer thought it was only , in effect , one-half of a pawn down
+2	He also launched a kingside storm , sacrificing a pawn to denude D.T . 's king	No amount of weasling could have saved this game for D.T
+2	No amount of weasling could have saved this game for D.T	A piece down , the computer resigned
+2	In a new position just after the opening , a computer will have serious problems	In such positions you have to create something new , and the computer is n't able to do that right now
+2	After only 11 moves for each side , the computer 's position was shaky	Greedily , it grabbed a pawn , at the cost of facing a brutal attack
+1	And when a defensive move was called for , D.T . passed up an obvious pawn move and instead exposed its queen to immediate tactical threats	that `` even a weak club player '' would have avoided the queen move
+6	Now , after only a dozen moves , spectators were looking for a mating combination	On a demonstration board , emcee Shelby Lyman showed a quick kill initiated by a knight sacrifice
+2	Mr. Kasparov 's continuation was slower but , in the end , just as deadly	He won D.T . 's queen for two minor pieces and two pawns -- not enough compensation , in this position , to give the computer much hope
+8	In both games I got exactly what I wanted	What he had demonstrated is that there 's more to chess than sheer calculation
+10	It was a time when interest rates came down very rapidly	Yields on five-year CDs at major banks were averaging about 7.45 % , and 10-year Treasury notes were paying less than 8 %
+2	Yields on five-year CDs at major banks were averaging about 7.45 % , and 10-year Treasury notes were paying less than 8 %	The CD seemed like a great deal
+2	More important , the CD was purchased on the secondary , or resale , market	Because the CD had an effective yield of 13.4 % when it was issued in 1984 , and interest rates in general had declined sharply since then , part of the price Dr. Blumenfeld paid was a premium
+9	Several phone calls and a visit to his broker 's office later , the dentist found out that the $ 9,000 drop represented the current value of the premium he paid when he bought the CD , and that the amount was n't insured	This is one thing I was never aware of
+4	This is one thing I was never aware of	He assumed that principal and interest were `` fully insured up to $ 100,000
+2	Dr. Blumenfeld is n't unique	Especially at times like these , when declining rates make it hard for investors to get yields they have come to expect , too many people chase the promise of above-market returns without fully appreciating the risk
+8	Yield greed often gets in the way of understanding things	The biggest problem we have is that investors realize , after the fact , that they did n't understand what they were investing in
+1	he did n't fully understand what he was buying	that he knew he was getting a zero-coupon CD and that he had previously invested in TIGRs ( Treasury Income Growth Receipts ) , a type of zero-coupon Treasury security sold by Merrill Lynch
+5	The broker , Thomas Beairsto of Merrill Lynch 's Morristown , N.J. , office , refuses to discuss the matter with a reporter , referring inquiries to Merrill Lynch officials in New York	Those officials say there was full disclosure of the risks in a `` fact sheet '' sent to all CD investors with their confirmation of sale
+5	If the price paid for a CD purchased in the secondary market . . . is higher than the accreted value in the case of zero-coupon CDs , the difference . . . is not insured	Computations involving zero-coupon CDs are more complicated and you should discuss any questions you may have with your financial consultant
+4	part of what he paid was a premium	I assumed I was buying a CD as a CD
+2	It 's not a blanket commitment , it 's a case-by-case situation	There 's a question whether brokers at the time were fully aware '' of the risks
+8	There 's a question whether brokers at the time were fully aware '' of the risks	We were n't sure that full disclosure , as we wanted it , was being made
+0	Merrill Lynch says it 's impossible to estimate how many investors are in Dr. Blumenfeld 's situation , although it says the firm has received only one other complaint about premiums on the secondary market in three years	Merrill Lynch now provides credit rating information about the institutions whose CDs it sells , which it did n't provide in 1986
+5	Zero-coupon CDs are only a small portion of the $ 1 trillion-plus in CDs outstanding , and those purchased on the secondary market are an even smaller part of the total	that fewer than 10 financial institutions currently issue zero-coupon CDs
+2	You always have to watch out for yourself	No one else will watch out for you
+1	Spirits companies now view themselves as global marketers	If you want to be a player , you have to be in America , Europe and the Far East
+5	If you want to be a player , you have to be in America , Europe and the Far East	You must have world-class brands , a long-term perspective and deep pockets
+2	But the shift has also been fueled by necessity	While premium-brand spirits like Smirnoff vodka and Jack Daniel 's whiskey are riding high in the U.S. , domestic spirits consumption fell 15 % to 141.1 million cases in 1988 from 166 million cases in 1979
+6	In recent years , growth has come in the foreign markets	U.S. brandy exports more than doubled last year to 360,000 proof gallons , a standard industry measure , according to Jobson Beverage Alcohol Group , an industry association
+5	U.S. brandy exports more than doubled last year to 360,000 proof gallons , a standard industry measure , according to Jobson Beverage Alcohol Group , an industry association	Exports of rum surged 54 % to 814,000 proof gallons
+2	when it lowered its tax on imported spirits and levied a tax on many domestic products	California wineries , benefiting from lowered trade barriers and federal marketing subsidies , are expanding aggressively into Japan , as well as Canada and Great Britain
+6	California wineries , benefiting from lowered trade barriers and federal marketing subsidies , are expanding aggressively into Japan , as well as Canada and Great Britain	In Japan , the wineries are promoting their products ' Pacific roots and courting restaurant and hotel chefs , whose recommendations carry weight
+8	In Australia , Britain , Canada and Greece , Brown-Forman Corp. has increased its marketing of Southern Comfort Liqueur	Using cinema , television and print ads , the company pitches Southern Comfort as a grand old drink of the antebellum American South
+2	The biggest foreign inroads , though , have been made by bourbon	While U.S. makers of vodka , rum and other spirits compete against powerhouses abroad , trade agreements prohibit any other country from making bourbon
+8	trade agreements prohibit any other country from making bourbon	All bourbon comes from Kentucky
+8	a uniquely American product tied to frontier folklore	How was the West won ? With a six-shooter in one hand and bourbon in the other
+8	How was the West won	With a six-shooter in one hand and bourbon in the other
+2	Bourbon makes up just 1 % of world-wide spirits consumption , but it represented 57 % of U.S. liquor exports last year , according to Jobson ; no other category had more than 19 %	Big U.S. distillers are fiercely vying for this market , which grew to $ 77 million last year from $ 33 million in 1987 , according to government figures
+2	Guinness 's Schenley Industries unit has increased its TV advertising in Japan and has built partnerships with duty-free shops throughout Asia , enabling it to install prominent counter displays	The company 's I.W . Harper brand is the leading bourbon in Japan , with 40 % of the market
+6	avoiding cultural hitches in marketing and distribution by allying themselves with local agents	Jim Beam Brands has a distribution partnership with Nikka Whiskey Co. , a distiller
+5	Jim Beam Brands has a distribution partnership with Nikka Whiskey Co. , a distiller	Seagram Co. , which exports Four Roses bourbon , has such a link with Kirin Brewery Co
+6	Some bourbon makers advertise abroad as they do at home	To promote Jack Daniel 's overseas , Brown-Forman uses the same photos of front porches from Lynchburg , Va. , and avuncular old men in overalls and hightops
+6	Jim Beam print ads , however , strike different chords in different countries	In Australia , land of the outback , a snapshot of Jim Beam lies on a strip of hand-tooled leather
+1	In Australia , land of the outback , a snapshot of Jim Beam lies on a strip of hand-tooled leather	West Germans get glitz , with bourbon in the foreground and a posh Beverly Hills hotel in the background
+1	West Germans get glitz , with bourbon in the foreground and a posh Beverly Hills hotel in the background	Ads for England are artsy and irreverent
+6	Ads for England are artsy and irreverent	One ad features a huge robot carrying a voluptuous woman in a faint
+5	net climbed to $ 80.8 million , or $ 4.56 a share , from $ 62.6 million , or $ 3.55 a share , in the year-earlier period	Revenue reached $ 1.1 billion from $ 1.01 billion
+5	The broadcasting unit reported operating profit of $ 134.9 million , up 18 % from the year-earlier $ 114.3 million	Publishing reported operating profit was $ 33.3 million , nearly flat with the year-before $ 33 million
+10	The broadcasting unit reported operating profit of $ 134.9 million , up 18 % from the year-earlier $ 114.3 million	Publishing reported operating profit was $ 33.3 million , nearly flat with the year-before $ 33 million
+5	Revenue at the broadcasting unit , consisting of the network and stations , advanced 11 % , to $ 838 million from $ 752.9 million	The publishing unit reported revenue edged up 2.6 % to $ 263.2 million from $ 256.6 million
+10	Revenue at the broadcasting unit , consisting of the network and stations , advanced 11 % , to $ 838 million from $ 752.9 million	The publishing unit reported revenue edged up 2.6 % to $ 263.2 million from $ 256.6 million
+1	For 1989 's first nine months , Capital Cities net income grew 23 % to $ 303.7 million , or $ 16.97 a share , from $ 246.9 million , or $ 14.43 a share	Revenue eased 0.3 % to $ 3.45 billion from $ 3.46 billion
+5	Last week , ABC unseated General Electric Co. 's National Broadcasting Co. unit as the No . 1 network , as rated by A.C. Nielsen Co	ABC has four shows in the top 10 , including the top show , `` Roseanne
+5	As part of a previously announced transaction , Federal Mogul Corp. has bought approximately 565,000 shares of its common stock from Nortek Inc. at $ 23.50 a share	Nortek has agreed not to acquire any securities of Federal-Mogul for 10 years and not to influence company affairs during that period
+5	The company said the plant will ensure that it has adequate energy for the mill and will reduce the mill 's energy costs	Manville said it expects the plant to begin operating at the end of 1991
+2	inflation is under control	With economic growth slowing they believe the Fed should ease credit even further
+5	net income rose to $ 217.9 million , or 59 cents a share , from $ 191.3 million , or 51 cents a share , a year ago	In the latest period , the company had an average of 370.8 million shares , 5.6 million shares below last year 's level
+10	Revenue rose 12 % to $ 1.63 billion from $ 1.46 billion	Systemwide sales , which include sales at franchisee as well as company-owned stores , totaled $ 4.59 billion compared with $ 4.2 billion
+5	Revenue rose 12 % to $ 1.63 billion from $ 1.46 billion	Systemwide sales , which include sales at franchisee as well as company-owned stores , totaled $ 4.59 billion compared with $ 4.2 billion
+5	Compared with the first nine months of last year , average franchisee store sales this year were down nearly $ 3,200	Since McDonald 's menu prices rose this year , the actual decline may have been more
+2	While franchisees were having a tough time holding sales , McDonald 's company-operated stores posted hefty gains for the nine months , with sales per company-operated unit rising $ 20,000	that the company often has better store locations than do its franchisees , thus aiding promotional efforts
+5	which the company attributed in part to lower food costs	reduced labor costs helped boost margins
+5	that kind of performance is sustainable	that in real terms , U.S. sales slipped 3 1/2 % to 4 % at company-operated stores in the quarter
+5	Overseas , both franchisees and the company performed substantially better than a year ago	Third-quarter sales in Europe were exceptionally strong , boosted by promotional programs and new products
+5	although weaker foreign currencies reduced the company 's earnings	that systemwide sales would have been $ 115 million greater had 1988 exchange rates remained in effect
+5	In the nine months , earnings rose 12 % to $ 555.6 million , or $ 1.49 a share , from $ 494.4 million , or $ 1.31 a share , a year earlier	Revenue rose 11 % to $ 4.56 billion from $ 4.12 billion
+2	The Miami-based company 's stock fell $ 1.75 yesterday to $ 20.75 a share in heavy American Stock Exchange composite trading	that Waertsilae Marine Industries , the Finnish shipyard that is building its three new cruise ships , planned to file for bankruptcy
+5	There is just a tremendous amount of uncertainty about what the effect , if any , of all this is	I did n't even know that a company in a socialistic country could file for bankruptcy
+5	That ship , which would carry about 2,050 passengers , would expand the capacity of Carnival 's existing 14-ship fleet by 24 %	The second ship , which is half-completed , is scheduled to be delivered in fall 1990 , and the third in fall 1991
+5	There 's a 99 % chance that the Fantasy will be delivered close to schedule	The others will probably be delivered as well , but Carnival will likely have to pay a higher price for them
+8	but Carnival will likely have to pay a higher price for them	the company could pay as much as 25 % more for the ships
+2	If the ships are n't delivered , however , it will likely have an effect on the company 's earnings as soon as the 1990 fiscal year , which begins Dec. 1	those estimates are based on Fantasy being in operation in 1990
+1	those estimates are based on Fantasy being in operation in 1990	If the ship fails to arrive , those per-share earnings estimates could be trimmed 15 cents or more
+2	Carnival , for example , has already paid about $ 160 million of the total cost for Fantasy	this may give it the right to seize the ship if the situation warrants it
+5	According to reports from Finland , Waertsilae Marine , 19 % -owned by conglomerate Oy Waertsilae , filed for bankruptcy yesterday after the shipyard 's contractors had started to demand bank guarantees	The shipyard disclosed in mid-August that it expected losses stemming from a series of unprofitable orders
+9	According to reports from Finland , Waertsilae Marine , 19 % -owned by conglomerate Oy Waertsilae , filed for bankruptcy yesterday after the shipyard 's contractors had started to demand bank guarantees	The shipyard disclosed in mid-August that it expected losses stemming from a series of unprofitable orders
+1	Jerell paid Ms. Garratt royalties for the line known as Multiples by Sandra Garratt	Ms. Garratt sued the Dallas apparel maker earlier this year , charging that Jerell developed and marketed clothing lines fashioned after her designs , in violation of their contract
+0	Sales of medium and heavy-duty trucks continue to lag previous-year rates , leading Eaton to expect fourth-quarter net income to fall below year-earlier levels , said Stephen R. Hardis , vice chairman and chief financial and administrative officer	He declined to make a specific earnings estimate
+5	Third-quarter net was $ 40 million , or $ 1.04 a share , from $ 54.4 million , or $ 1.47 a share , a year ago	Sales rose 2.8 % to $ 864.1 million , from $ 840.4 million
+2	The quarter net was below analyst expectations mainly because truck-parts sales did n't rebound in September from the summer doldrums as they usually do	he is reducing his estimate for the year to the area of $ 5.70 a share , from his previous estimate of $ 6.10
+2	he will make another cut to about $ 5.50 a share in light of the third-quarter report	Eaton 's quarter profit margin on controls was lower than he anticipated
+1	sales of truck axles , transmissions and other parts fell 7.2 % to $ 295 million	Sales of parts for cars and construction vehicles rose
+8	truck-fleet operators appear to be cautious about buying new trucks until they see how the economy behaves	The truck sales slowdown reflects the general slowing in sales of consumer goods
+5	For the nine months , net -- including profit from discontinued operations both years and in 1988 an extraordinary charge of $ 17.7 million related to settlement of a lawsuit -- was $ 170.6 million , or $ 4.54 a share , up 5.8 % from $ 161.3 million , or $ 4.32 a share , a year ago	Eaton earned from continuing operations $ 165.1 million , or $ 4.40 a share , down 7 % from $ 177.5 million , or $ 4.76 a share , a year earlier
+5	The conference was entitled `` Economic Mechanisms for Environmental Protection , '' a significant departure from East Bloc usage , which recognizes only one economic mechanism -- central planning -- to direct industrial behavior	Even more remarkably , it focused on emissions trading and similar market approaches to address pollution , notwithstanding Poland 's lack of functioning markets
+5	According to a detailed report by Zbigniew Bochniarz of the University of Minnesota 's Hubert Humphrey Institute , 27 areas containing a third of Poland 's population are regarded as `` ecological hazards '' due to multiple violations of standards	Norms are consistently exceeded at 60 % of nitrogen oxide monitoring sites and 80 % of those for dust and soot emissions
+5	27 areas containing a third of Poland 's population are regarded as `` ecological hazards '' due to multiple violations of standards.Norms are consistently exceeded at 60 % of nitrogen oxide monitoring sites and 80 % of those for dust and soot emissions	Four-fifths of Poland 's soils have become highly acidified
+5	27 areas containing a third of Poland 's population are regarded as `` ecological hazards '' due to multiple violations of standards.Norms are consistently exceeded at 60 % of nitrogen oxide monitoring sites and 80 % of those for dust and soot emissions.Four-fifths of Poland 's soils have become highly acidified ; 70 % of its southern forests are projected to die by century 's end	Between 1965 and 1985 , Polish waters fit for human consumption dropped from 33 % to 6 % of all surface waters , while those unfit even for industry use nearly doubled
+5	Poland produces about 20 times more soot and five times more sulfur dioxide and solid waste per unit of gross national product than does Western Europe	Its mortality rate for males over 35 is about 50 % higher than West Germany 's , and 50 % higher in hazard areas than the national average
+5	Poland produces about 20 times more soot and five times more sulfur dioxide and solid waste per unit of gross national product than does Western Europe.Its mortality rate for males over 35 is about 50 % higher than West Germany 's , and 50 % higher in hazard areas than the national average	Since 1978 , average annual growth rates for most pollutants have outstripped the growth of GNP
+1	Conference participants saw these effects as flowing directly from ( a ) Marxist devaluation of environmental resources , which are not produced by labor ; ( b ) planned economies ' inability to control pollution where enterprises are state-owned and penalties are paid by the government ; and ( c ) the continuing Stalinist emphasis on heavy industry for economic development , producing a far heavier and more wasteful use of energy and natural resources than in the West	They repeatedly noted that environmental progress could not be secured without true ownership , genuine competition based on market factors , and the risk of bankruptcy if a business makes the wrong decisions
+2	Indeed , skepticism was amply captured by a joke told by Poles at the conference : `` The world must be coming to an end	The Russians are talking peace The Palestinians are talking elections And the Poles are engaged in commerce
+10	The Russians are talking peace	The Palestinians are talking elections
+7	The Russians are talking peace	The Palestinians are talking elections
+8	But the implications of such a shift to market approaches go well beyond the fact that Poland is already working on nationwide emissions trades to reduce smelter pollution , or that the Soviets plan to introduce marketable pollution permits in some republics next year	Those implications include : -- Privatization
+1	Faced with a $ 40 billion foreign debt and skyrocketing inflation , Poland must privatize industry and eliminate subsidies to stabilize its currency and qualify for international assistance	Market-based pollution control may consume some capital that would otherwise purchase state industries
+5	As conferees noted , scarce capital means the costs of control must be minimized through a broad menu of compliance choices for individual firms	That means simple , clear rules that secure the first large blocks of reduction , deferring more complex issues such as risk
+2	Even least-cost environmental solutions will require billions of dollars	New types of financing must make funds available without draining Poland 's hard-currency reserves
+2	East Bloc pollution data typically have been state secrets	While Polish data have been freely available since 1980 , it was no accident that participants urged the free flow of information
+5	The drop in those and other technology stocks contributed to an 0.7 % slide by the Nasdaq composite index	It finished at 467.22 , down 3.45
+10	Mostly because of the sell-off in technology stocks , the Nasdaq 100 Index of the OTC 's largest non-financial issues dropped 4.58 to 457.52	The Nasdaq Financial Index of giant insurance and banking issues lost 2.38 to 458.32
+8	It 's a quiet retreat	It 's nothing dramatic , just a routine sell-off
+6	It 's nothing dramatic , just a routine sell-off	Some of it was due to lower-than-expected earnings from leading companies
+5	Yesterday 's volume of 117.2 million shares was far below last week 's sizzling average of nearly 177 million	For October so far , daily volume is averaging 150.3 million , putting it on track to be the year 's busiest month
+1	Apple Computer lost 1 1/4 to 46 3/4 on 1.1 million shares	Stratus Computer eased 3/4 to 24 on 816,000 shares
+9	Investors apparently did n't like the news from Rainbow Technologies either	It said net income was 17 cents a share in the third quarter , compared with 16 cents a share a year earlier
+2	net income was 17 cents a share in the third quarter , compared with 16 cents a share a year earlier	Rainbow 's stock dropped 2 to 14 1/4
+5	Other technology stocks that were weaker included Intel , which fell 1 1/4 to 33 1/2 on 1.9 million shares , Mentor Graphics , down 3/4 to 16 1/4 on 1.6 million shares , Sun Microsystems , which slipped 3/8 to 18 1/4 , and MCI Communications , down 1 to 42 3/4	Microsoft , which last week rose to a record , fell victim to profit-taking as it declined 2 1/8 to 83 1/8
+1	Microsoft , which last week rose to a record , fell victim to profit-taking as it declined 2 1/8 to 83 1/8	Conner Peripherals was unchanged at 15
+5	Another takeover target , LIN Broadcasting , eased 1/2 to 110 1/8 on 313,800 shares	LIN 's suitor , McCaw Cellular Communications , dropped 1 to 40 on almost 350,000 shares
+8	investors will begin paying more attention to earnings , partly in response to the latest round of disappointments	investors will favor companies that historically have posted annual earnings growth of 15 % to 20 %
+2	investors will favor companies that historically have posted annual earnings growth of 15 % to 20 %	That would be good news for the OTC market because many small growth stocks are traded there
+5	some investors have already made the switch	The Robertson Stephens Index of 340 emerging growth stocks is up 23.1 % for the year through Friday
+5	The Robertson Stephens Index of 340 emerging growth stocks is up 23.1 % for the year through Friday	The rise matches that of the Dow Jones industrials this year
+5	It 's been a spectacular year for the emerging growth stock investor , '' Mr. Weisberg said	He predicted that the most popular growth companies will be those with `` some kind of unique product or franchise '' that makes them appear able to sustain their momentum
+6	that the most popular growth companies will be those with `` some kind of unique product or franchise '' that makes them appear able to sustain their momentum	the OTC market 's Nellcor , Office Club and BizMart on the list
+5	Nellcor , a maker of electronic patient monitoring systems , was up 3/4 to 16 7/8 on 258,000 shares yesterday , while retailing issue Office Club was unchanged at 10 3/4 on 65,200 shares	BizMart , another retailing stock , was off 3/8 to 8 1/4 on nearly 80,000 shares
+6	Other favorites of growth-stock analysts and money managers also had a mixed session	Payco American , a credit collection concern , jumped 1 3/8 to 20 5/8 on volume of 93,000 , and Mail Boxes Etc. , a private postal services company , advanced 1/2 to 23 1/2 on volume of 64,000
+5	But Legent , a systems software stock , was down 1/2 to 29 3/4 on 39,300 shares	Novell , a computer networking concern , fell 1 1/2 to 30 on 152,000 shares
+2	Higher earnings helped some issues	Amgen rose 2 1/4 to 54 3/4 on almost 800,000 shares , and CVB Financial jumped 4 to 41 on only 1,000 shares
+2	Why ca n't we teach our children to read , write and reckon	It 's not that we do n't know how to , because we do
+8	It 's not that we do n't know how to , because we do	It 's that we do n't want to
+5	And the reason we do n't want to is that effective education would require us to relinquish some cherished metaphysical beliefs about human nature in general and the human nature of young people in particular , as well as to violate some cherished vested interests	These beliefs so dominate our educational establishment , our media , our politicians , and even our parents that it seems almost blasphemous to challenge them
+5	But what do we mean , specifically , by `` creativity	No one can say
+1	No one can say	In practice , it ends up being equated with a `` self-expression '' that encourages the youngsters ' `` self-esteem
+2	The whole notion of `` creativity '' in education was ( and is ) part and parcel of a romantic rebellion against disciplined instruction , which was ( and is ) regarded as `` authoritarian , '' a repression and frustration of the latent talents and the wonderful , if as yet undefined , potentialities inherent in the souls of all our children	It is not surprising that parents find this romantic extravagance so attractive
+2	Fortunately , these same parents do want their children to get a decent education as traditionally understood , and they have enough common sense to know what that demands	Their commitment to `` creativity '' can not survive adolescent illiteracy
+8	The reasons are complex , but one simple reason ought not to be underestimated	Progressive education '' ( as it was once called ) is far more interesting and agreeable to teachers than is disciplined instruction
+5	It also provides teachers with a superior self-definition as a `` profession , '' since they will have passed courses in educational psychology and educational philosophy	I myself took such courses in college , thinking I might end up a schoolteacher
+1	I myself took such courses in college , thinking I might end up a schoolteacher	They could all fairly be described as `` pap '' courses
+2	But it is unfair to dump on teachers , as distinct from the educational establishment	and , on the whole , they are seriously committed to conscientious teaching
+1	and , on the whole , they are seriously committed to conscientious teaching	They may not be among the `` best and brightest '' of their generation -- there are very few such people , by definition
+1	But they need not be to do their jobs well	Yes , we all can remember one or two truly inspiring teachers from our school days
+2	But our education proceeded at the hands of those others , who were merely competent and conscientious	In this sense , a teacher can be compared to one 's family doctor
+2	In this sense , a teacher can be compared to one 's family doctor	If he were brilliant , he probably would not be a family doctor in the first place
+1	If he were brilliant , he probably would not be a family doctor in the first place	If he is competent and conscientious , he serves us well
+2	Our teachers are not an important factor in our educational crisis	Whether they are or are not underpaid is a problem of equity ; it is not an educational problem
+8	Whether they are or are not underpaid is a problem of equity ; it is not an educational problem	they would educate our children better if only they got a few thousand dollars a year more
+1	they would educate our children better if only they got a few thousand dollars a year more	It is the kind of libel the teachers ' unions do n't mind spreading , for their own narrow purposes
+5	But there is not one shred of evidence that , other things being equal , salary differentials result in educational differentials	If there were such evidence , you can be sure you would have heard of it
+2	If we wish to be serious about American education , we know exactly what to do -- and , just as important , what not to do	There are many successful schools scattered throughout this nation , some of them in the poorest of ghettos , and they are all sending us the same message
+2	Conversely , there are the majority of unsuccessful schools , and we know which efforts at educational reform are doomed beforehand	We really do know all we need to know , if only we could assimilate this knowledge into our thinking
+2	In this respect , it would be helpful if our political leaders were mute , rather than eloquently `` concerned	They are inevitably inclined to echo the conventional pap
+1	Thus at the recent governors ' conference on education , Gov . Bill Clinton of Arkansas announced that `` this country needs a comprehensive child-development policy for children under five	A comprehensive development policy for governors over 30 would seem to be a more pressing need
+2	A comprehensive development policy for governors over 30 would seem to be a more pressing need	What Gov . Clinton is advocating , in effect , is extending the educational system down to the pre-kindergarten years
+1	What Gov . Clinton is advocating , in effect , is extending the educational system down to the pre-kindergarten years	Whether desirable or not , this is a child-care program , not an educational program
+5	Whether desirable or not , this is a child-care program , not an educational program	that very early exposure to schooling improves performance in the first grade , but afterward the difference is quickly washed away
+2	Parental involvement '' is a bad idea	Parents are too likely to blame schools for the educational limitations of their children
+1	Parents are too likely to blame schools for the educational limitations of their children	Parents should be involved with their children 's education at home , not in school
+8	Parents should be involved with their children 's education at home , not in school	They should see to it that their kids do n't play truant ; they should make certain that the children spend enough time doing homework ; they should scrutinize the report card
+5	They should see to it that their kids do n't play truant ; they should make certain that the children spend enough time doing homework ; they should scrutinize the report card	If parents are dissatisfied with a school , they should have the option of switching to another
+8	Here , the experience of New York City is decisive	Locally elected school boards , especially in our larger cities , become the prey of ambitious , generally corrupt , and invariably demagogic local politicians or would-be politicians
+2	Locally elected school boards , especially in our larger cities , become the prey of ambitious , generally corrupt , and invariably demagogic local politicians or would-be politicians	New York is in the process of trying to disengage itself from a 20-year-old commitment to this system of school governance
+4	Decades of educational research tell us unequivocally that even smaller classes have zero effect on the academic performance of the pupils	The new money flows into the already top-heavy administrative structure , which busies itself piling more and more paper work on the teachers
+2	The new money flows into the already top-heavy administrative structure , which busies itself piling more and more paper work on the teachers	There is neither mystery nor paradox in the fact that as educational expenditures ( in real terms ) have increased sharply in the past quarter-of-a-century educational performance has declined
+2	There is neither mystery nor paradox in the fact that as educational expenditures ( in real terms ) have increased sharply in the past quarter-of-a-century educational performance has declined	That is the way the system works
+1	Students should move up the educational ladder as their academic potential allows	No student should be permitted to be graduated from elementary school without having mastered the 3 R 's at the level that prevailed 20 years ago
+2	The notion that tracking is somehow `` undemocratic '' is absurd	The purpose of education is to encourage young men and women to realize their full academic potential
+0	to realize their full academic potential	No one in his right mind actually believes that we all have an equal academic potential
+2	It is generally desirable to use older textbooks -- many of them , alas , out of print -- rather than newer ones	The latter are modish , trendy , often downright silly , and at best insubstantial
+5	The latter are modish , trendy , often downright silly , and at best insubstantial	They are based on dubious psychological and sociological theories rather than on educational experience
+6	They are based on dubious psychological and sociological theories rather than on educational experience	One of the reasons American students do so poorly in math tests , as compared with British , French , German or Japanese students , is the influence of the `` New Math '' on American textbooks and teaching methods
+2	Most important of all , schools should have principals with a large measure of authority over the faculty , the curriculum , and all matters of student discipline	Study after study -- the most recent from the Brookings Institution -- tells us that the best schools are those that are free of outside interference and are governed by a powerful head
+5	Study after study -- the most recent from the Brookings Institution -- tells us that the best schools are those that are free of outside interference and are governed by a powerful head	With that authority , of course , goes an unambiguous accountability
+8	Study after study -- the most recent from the Brookings Institution -- tells us that the best schools are those that are free of outside interference and are governed by a powerful head.With that authority , of course , goes an unambiguous accountability	Schools that are structured in this way produce students with higher morale and superior academic performance
+2	that in the past IBM has developed broad software strategies only for problems that crossed industry lines	IBM 's decision to invest this sort of effort into a single industry showed that it was getting serious about understanding customers ' problems and was n't just selling technology
+5	he believes IBM 's decision to invest this sort of effort into a single industry showed that it was getting serious about understanding customers ' problems and was n't just selling technology	he expects IBM to unveil similar strategies for other industries in coming months
+2	IBM 's push is also unusual in its approach to marketing	Rather than just send out marketing people to knock on customers ' doors , IBM is making several hundred of its own manufacturing people available to discuss specific needs
+5	Net income , however , rose 3.7 % to 107.87 billion yen from 103.98 billion yen	Per-share net rose to 55.10 yen from 54.51 yen
+5	Operating profit rose 5.5 % to 332.38 billion yen from 315.12 billion yen	Net income jumped 21 % to 79.03 billion yen from 65.53 billion yen
+5	Operating profit rose 5.5 % to 332.38 billion yen from 315.12 billion yen.Net income jumped 21 % to 79.03 billion yen from 65.53 billion yen	Per-share net rose to 62.04 yen from 51.50 yen
+5	its pretax profit increased 8.9 % to 117.94 billion yen from 108.28 billion yen	Operating profit rose 5.3 % to 279.75 billion yen from 265.79 billion yen
+5	Yamaichi said its pretax profit increased 8.9 % to 117.94 billion yen from 108.28 billion yen.Operating profit rose 5.3 % to 279.75 billion yen from 265.79 billion yen	Net income surged 21 % to 55.59 billion yen from 46.02 billion yen
+5	Yamaichi said its pretax profit increased 8.9 % to 117.94 billion yen from 108.28 billion yen.Operating profit rose 5.3 % to 279.75 billion yen from 265.79 billion yen.Net income surged 21 % to 55.59 billion yen from 46.02 billion yen	Per-share net rose to 47.46 yen from 39.31 yen
+5	Operating profit rose 4 % to 293.29 billion yen from 282.08 billion yen	Net income rose 23 % to 63.52 billion yen from 51.65 billion yen
+5	Operating profit rose 4 % to 293.29 billion yen from 282.08 billion yen.Net income rose 23 % to 63.52 billion yen from 51.65 billion yen	Per-share net rose to 44.08 yen from 36.13 yen
+5	The plan would extend the period under which Eagle has the exclusive right to file a reorganization plan	It would extinguish all of Eagle 's existing capital stock and issue new stock to York as sole holder
+9	its problems began in 1987 and early 1988 when its then-senior lender , Bankers Trust Co. , reduced its credit line	In September 1988 , Eagle acquired Biny Clothing Inc. , a closely held New York chain operated under the Bonds name
+9	In September 1988 , Eagle acquired Biny Clothing Inc. , a closely held New York chain operated under the Bonds name	Eagle 's management retired and Biny 's management took control of the company
+5	As thrifts sell assets to improve their capital-to-asset ratio , as required under the new law passed in August , they must also reduce liabilities , such as deposits	As interest rates paid depositors were lowered , thrift withdrawals exceeded deposits by $ 5.1 billion , not including interest credited to accounts
+8	some of the outflow to seasonal factors	August is a month when people are paying school tuition
+5	August is a month when people are paying school tuition	That and adjustment to the new law were the biggest factors in the industry
+5	The deposit numbers for August marked a swing back to huge outflows after a July net deposit inflow of $ 54 million -- the only net inflow in more than a year	Deposits are n't expected to exceed withdrawals in the foreseeable future , as the industry continues to shrink
+1	For the first eight months of 1989 , thrifts ' withdrawals exceeded deposits by $ 44.5 billion	For the prior year , deposits exceeded withdrawals by $ 8.8 billion
+2	The estimates of real gross national product prepared by the Bureau of Economic Analysis in the Department of Commerce significantly understate the rate of economic growth	Since the bureau 's estimates for the business sector provide the numerator for the productivity ratios calculated by the Department of Labor , underestimated growth rates artificially depress official productivity statistics
+1	evidence suggesting defects in the official output estimates	The evidence does not clearly support the view that the downward bias in output growth has become greater during the 1948-89 period , but all I am claiming is that the growth trend is understated
+4	This bias is in no way deliberate	The understatement of growth is due largely to the conservative expedients adopted to deal with deficiencies in basic economic data
+0	This means that no allowance is made for possible increases in output per unit of labor	In an unrelated program in which the Labor Department does estimate output per employee for more than two-thirds of federal civilian employees , it found an average annual rate of productivity improvement of 1.7 % during the 1980s
+2	In an unrelated program in which the Labor Department does estimate output per employee for more than two-thirds of federal civilian employees , it found an average annual rate of productivity improvement of 1.7 % during the 1980s	Even if it is assumed that productivity rose no more than half as quickly in the rest of the nonbusiness sector , this Labor Department estimate indicates a downward bias in the real GNP estimates of 0.2 percentage point a year , on average
+1	The federal productivity estimators use labor input , rather than output , data for their calculations of half of private financial and service industries as well	Independent estimates of output in those industries , including one by the Department of Labor for banking , suggests that productivity in finance and services appears to have risen by an average of at least 1.5 % a year between 1948 and 1988
+2	that productivity in finance and services appears to have risen by an average of at least 1.5 % a year between 1948 and 1988	Because finance and services contribute 10 % to final business product , missing these productivity improvements depresses the overall growth rate by 0.15 % a year
+8	The second source of error in growth statistics is the use of inappropriate deflators to adjust for price changes	that these mismeasurements as detailed by Martin N. Baily and Robert J. Gordon add a further 0.12 percentage point to the downward bias in the growth rate of real business product
+6	Finally , the official estimates understate growth because they make inadequate allowance for improvements in quality of goods and services	In 1985 , a new price index for computers adjusted for changes in performance characteristics was introduced , and that resulted in a significantly larger increase in real outlays for durable goods than the earlier estimates had showed
+1	In sum , the biases ennumerated above indicate a 0.7 percentage point understatement in growth of total real GNP	For the private domestic business economy , the bias was a bit over 0.5 percentage point
+2	Some producers of polyethylene , figuring the inventory reductions are near an end , have announced price boosts	The first real test of whether prices have hit bottom may come in the next several weeks , when the new prices become effective
+1	Operating profit from carbon products , such as graphite electrodes , also declined , to $ 6 million from $ 20 million	In the industrial-gases segment , operating profit climbed to $ 87 million from $ 58 million
+6	Up to now , Drexel has made a rapid-fire series of settlements with 25 states and the commonwealth of Puerto Rico	Just yesterday , New Hampshire announced it made a $ 75,000 settlement with Drexel , a record-tying fine for a securities-law matter in that state
+2	the firm is meeting resistance from some big states , including New Jersey , New York , California , Pennsylvania , Connecticut and Missouri	they do n't want to simply accept the settlements offered by Drexel
+5	Officials in some of these states say they do n't want to simply accept the settlements offered by Drexel	They question if Drexel is getting easier treatment than the many small penny-stock firms whose brokerage licenses are routinely revoked
+5	it does n't expect any of its state brokerage licenses will be revoked , and even if some are , its securities business would n't be directly hurt	It already has sold its retail , or individual-investor , brokerage network
+8	I do n't have any argument with those who came to different conclusions	I can see both sides
+1	I do n't think , as we say in investment banking , that ` by the end of the day ' we 'll be losing any licenses	There are states that have asked for additional information , which we are providing to them
+5	more than $ 2.8 million has been paid to 26 states and that Drexel still expects to pay out a total of $ 11.5 million	By the end of this week , Drexel should have another three to four settlements
+2	That total would be important for Drexel	The investment bank has previously announced that as part of its punishment it would create an independent foundation to promote ethical behavior in the securities industry.A proviso to that promise is that a minimum of 35 states reach settlement agreements before next Tuesday
+1	The investment bank has previously announced that as part of its punishment it would create an independent foundation to promote ethical behavior in the securities industry	A proviso to that promise is that a minimum of 35 states reach settlement agreements before next Tuesday
+5	New Jersey , for example , was asked to accept $ 300,000 , but refused	The state is n't ruling out revoking Drexel 's brokerage license
+5	Connecticut already has issued a `` notice of intent '' to revoke Drexel 's brokerage license	It is one of the states that have met with Mr. Cohen and asked for additional information about investors ' accounts and other matters
+8	This particular issue goes to the very integrity of the capital-formation market	Commissioner Brown does n't feel that money alone is the issue here
+5	Particularly touchy are the cases of New York , which is Drexel 's base , and California , the base of Drexel 's highly profitable junk-bond operation that led to the firm 's legal difficulties	Neither state has settled , and officials in the two states wo n't discuss their reasons for not doing so
+8	This process should point out that it 's not going to be easy for a firm that 's convicted of a felony to immediately jump back into the retail business	We need to have somebody worried so they do n't do this again
+8	Time Warner emphasized in a news release that it should be evaluated based on its cash flow , which the company defined as earnings before interest , taxes , depreciation and amortization	On a pro-forma basis , assuming the merger was effective Jan 1 , 1988 , including the results from both Time Inc. and all of Warner , that cash flow figure would be $ 526 million for the latest quarter , more than double the comparable figure a year ago , or $ 242 million , according to Time Warner
+2	Some analysts at least are buying that argument , and were n't alarmed by the losses	What really matters is the operating income of the divisions
+5	For example , Warner made more than $ 100 million from filmed entertainment in three months	That 's a big number
+5	In the year-ago third quarter , Time on its own reported net income of $ 81 million , or $ 1.42 a share	Combined revenue for the latest quarter of Time Warner was $ 2.2 billion , compared with the year-ago Time revenue of $ 1.1 billion
+5	On a pro forma basis , including all of Warner 's earnings , Time Warner had a third-quarter loss of $ 217 million , compared with a $ 342 million loss a year earlier	On the same basis , revenue rose to $ 2.7 billion from $ 2.2 billion
+5	For the third quarter , Warner 's $ 106 million loss compared with a year-ago loss of $ 113 million , or 90 cents a share	Revenue rose to $ 1.5 billion from $ 1.1 billion
+6	Time Warner 's operating earnings got a boost from Warner 's record box-office results	Batman '' alone has racked up more than $ 247 million in box-office receipts to date , making it Warner Bros. ' largest grossing film ever
+5	Batman '' alone has racked up more than $ 247 million in box-office receipts to date , making it Warner Bros. ' largest grossing film ever	Lethal Weapon II '' was also a big hit
+8	its operating cash flow declined in the quarter for its magazine division , its books division and the Home Box Office programming division	In magazines , higher advertising revenues at Sports Illustrated and Fortune were offset by lower ad revenue for other major magazines.The programming division saw a decline in operating cash flow because the year-ago quarter included a $ 12 million dividend from Turner Broadcasting System and because the quarter includes expenses associated with the Nov. 15 launch of HBO 's Comedy Channel
+5	In magazines , higher advertising revenues at Sports Illustrated and Fortune were offset by lower ad revenue for other major magazines	The programming division saw a decline in operating cash flow because the year-ago quarter included a $ 12 million dividend from Turner Broadcasting System and because the quarter includes expenses associated with the Nov. 15 launch of HBO 's Comedy Channel
+0	Robert J. Penn , president and chief executive officer , will take early retirement from this steelmaker Dec 31	Mr. Penn , 58 years old , would continue as a consultant and would work with the board in selecting a successor
+5	Treasury Secretary Nicholas Brady , Federal Reserve Board Chairman Alan Greenspan and Housing and Urban Development Secretary Jack Kemp are members of the board	President Bush must appoint two other members , one a Democrat and one a Republican
+1	that Mr. Simmons , the chairman of Valley National Bank in Phoenix , is the Republican appointee	The Democratic appointee has n't been determined
+2	We believe that there are numerous other candidates more qualified for this important position and we encourage you to give them your thorough consideration before making this key RTC appointment	The RTC needs the most able , competent management available
+5	But Mr. Simmons has long ties to both Republicans and banking	He was co-chairman of Mr. Bush 's Arizona campaign committee in last year 's election
+5	He was co-chairman of Mr. Bush 's Arizona campaign committee in last year 's election , and also worked for Mr. Bush in the 1980 election	The two met more than 30 years ago , when Mr. Simmons worked for Commercial Bank & Trust Co. of Midland , Texas , where Mr. Bush was an organizing director
+2	it lowered the debt ratings of certain long-term debt held by this company	the bank 's move into the Texas market
+2	Lloyd 's , once a pillar of the world insurance market , is being shaken to its very foundation	The 301-year-old exchange is battered by enormous claims from a decade-long run of unprecedented disasters
+2	At the same time , Lloyd 's is besieged by disgruntled investors and hamstrung by inefficient but time-honored ways of conducting business	The exchange is gradually being squeezed into narrow , less-profitable segments of the market by less hidebound competitors
+2	Lloyd 's is on the ropes	It needs more discipline
+8	It needs more discipline	It needs to sort itself out
+8	Most troublesome is the shrinking pool of `` names , '' the well-heeled investors ( some of them royal ) who , as members of about 360 syndicates , underwrite policies	Some 1,750 members quit the exchange last year , more than triple the number of resignations in 1987
+5	Some 1,750 members quit the exchange last year , more than triple the number of resignations in 1987	Names are resigning at an even faster pace this year
+6	Lackluster returns are one reason	The average after-tax return on investment in 1986 , the most recent year for which results are available , was 6.5 % , according to Chatset Ltd. , an insurance consulting firm in London
+7	The average after-tax return on investment in 1986 , the most recent year for which results are available , was 6.5 % , according to Chatset Ltd. , an insurance consulting firm in London	In 1985 , it was 2.1 %
+2	Many of the 31,329 investors who remain are beginning to question one of the exchange 's most basic tenets , the concept of unlimited personal liability	Investors may reap huge profits when premiums exceed claims , but they are liable to their last pound or dollar in the event of a catastrophe
+2	During the five-year period ended 1986 , roughly 80 % of the names had money tied up in money-losing syndicates , according to Chatset consultants	The peril of unlimited liability looms large for a number of them now
+6	The peril of unlimited liability looms large for a number of them now	I have wished I could die and be out of it -- that 's how bad it is , '' Betty Atkins , a secretary from suburban London , says
+6	which has been hard hit by asbestos reinsurance claims	Ms. Atkins , who underwrote # 20,000 , or about $ 32,000 , of insurance coverage on that syndicate , now faces potential losses of roughly # 70,000 , or $ 111,000
+1	Ms. Atkins now faces potential losses of roughly # 70,000 , or $ 111,000	If Lloyd 's wants # 70,000 out of me they will have to take everything I 've got -- and even then I do n't know if it will be enough
+6	Unease is widespread among exchange members	I ca n't think of any reason to join Lloyd 's now , '' says Keith Whitten , a British businessman and a Lloyd 's member since 1979
+2	I ca n't think of any reason to join Lloyd 's now	The downside is very considerable , and at the moment the upside is very marginal
+2	The downside is very considerable , and at the moment the upside is very marginal	If profits do n't improve he may quit the exchange
+8	Meanwhile , competition from rivals unencumbered by history is intensifying	Lloyd 's is being squeezed out of low-margin but more consistently profitable product lines such as primary property and marine insurance
+10	Meanwhile , competition from rivals unencumbered by history is intensifying	Lloyd 's is being squeezed out of low-margin but more consistently profitable product lines such as primary property and marine insurance
+8	Lloyd 's is being squeezed out of low-margin but more consistently profitable product lines such as primary property and marine insurance	Over the past decade , competitors have chipped away at the exchange 's share of the # 2.5 billion marine market in London , where half the world 's ships are insured
+10	At the peak of its power and influence a century ago , Lloyd 's dominated the insurance world with a 50 % stake	It virtually dictated how ships were to be built and it monitored commerce through a unrivaled intelligence network in ports around the globe
+5	Today , Lloyd 's share of the world market , excluding life insurance , is about 2 %	Its stake is even smaller if life insurance is included
+2	Today , Lloyd 's share of the world market , excluding life insurance , is about 2 % . ( Its stake is even smaller if life insurance is included	Bigger rivals , such as Aetna and Allianz , backed by armies of statisticians using computers in hundreds of branches , operate more efficiently and often can offer lower rates
+5	Bigger rivals , such as Aetna and Allianz , backed by armies of statisticians using computers in hundreds of branches , operate more efficiently and often can offer lower rates	Though Lloyd 's pioneered such now-standard policies as worker 's compensation insurance , burglary insurance for homeowners and businesses , and bankers ' liability insurance , competitors now underwrite most of that business
+5	Beyond that , many big oil , chemical and airline companies are siphoning off big chunks of the market by insuring themselves through `` captive '' offshore companies for industry-specific coverage	Even Lloyd 's specialty -- unusually risky ventures -- is being challenged
+2	Thus Lloyd 's ca n't react quickly to competition	Lloyd 's has lost control of the situation
+8	Lloyd 's has lost control of the situation	They are n't controlling their destiny like they used to
+8	the exchange faces big challenges	This is a watershed time , and we are trying to plot our way ahead
+2	By that , he means low-margin but low-risk products such as certain types of primary property insurance	The exchange must find new products and new markets
+2	That wo n't be an easy task	Tradition is dictator at Lloyd 's
+1	Tradition is dictator at Lloyd 's	Three years ago , the exchange took up residence in a space-age tower of steel and glass -- evocative of the kind of modern architecture that Britain 's Prince Charles has denounced
+5	Three years ago , the exchange took up residence in a space-age tower of steel and glass -- evocative of the kind of modern architecture that Britain 's Prince Charles has denounced	Some exchange wags call the building `` the oil rig . '' )
+5	The Lloyd 's market actively underwrites insurance just 4 1/2 hours a day	Underwriting does n't get under way until after morning tea at 10 a.m
+9	Underwriting does n't get under way until after morning tea at 10 a.m	A two-hour lunch break follows
+9	A two-hour lunch break follows	Things wind down at about 4:30 p.m. , just in time for afternoon tea
+5	Brokers clutching thick folders stand in lines , waiting their turn to speak to the underwriters	A broker may have to approach as many as 20 underwriters who insure the endeavors on behalf of the syndicates
+8	underwriters also have been inept	he and his fellow underwriters underestimated by as much as 50 % the premiums they should have charged for property risks from 1980 to 1985
+2	he and his fellow underwriters underestimated by as much as 50 % the premiums they should have charged for property risks from 1980 to 1985	How unprofessional we must have appeared to the outside world -- how incompetent at risk assessment and evaluation
+5	More recently , property rates have increased	the San Francisco earthquake will cause the industry to boost rates even further
+2	because of Lloyd 's practice of leaving the books open for three years to allow for the settlement of claims	Lloyd 's only recently reported its financial results for 1986
+8	because of Lloyd 's practice of leaving the books open for three years to allow for the settlement of claims	Lloyd 's only recently reported its financial results for 1986
+1	reported profit will be down in 1987 , 1988 and 1989 , though he declines to specify how steep the decline will be	the exchange 's downturn in profitability is likely to be aggravated by more than $ 600 million in aviation losses ( including the 1988 Pan Am airline disaster over Lockerbie , Scotland ) and a still-uncalculated chunk of claims from September 's Hurricane Hugo
+2	the departures of names is n't likely to hurt its underwriting capacity , currently about # 11 billion	the drain of funds has been offset by an increase in investments by the remaining names
+6	Meanwhile , the exchange has been trying to lower costs	It recently cut its work force by 9 % , or 213
+5	But Lloyd 's is hampered in its efforts to overhaul operations by its reluctance to embrace modern technology	Mr. Wetherell , the underwriter , reckons half of his business could be transacted by computer , cutting costs at least 10 %
+1	Mr. Wetherell , the underwriter , reckons half of his business could be transacted by computer , cutting costs at least 10 %	Though Lloyd 's has talked for years about computerizing underwriting transactions , the effort has n't gotten very far
+2	Though Lloyd 's has talked for years about computerizing underwriting transactions , the effort has n't gotten very far	Competition among underwriters and brokers makes them loath to centralize price and policy information
+2	Competition among underwriters and brokers makes them loath to centralize price and policy information	Both groups cling to traditional face-to-face dealings , even for routine policies
+1	Lloyd 's overblown bureaucracy also hampers efforts to update marketing strategies	Some underwriters have been pressing for years to tap the low-margin business by selling some policies directly to consumers
+1	Some underwriters have been pressing for years to tap the low-margin business by selling some policies directly to consumers	Lloyd 's presently sells only auto insurance directly to the public , and such policies are sold only in limited markets such as the U.K. and Canada
+2	But such changes must be cleared by four internal committees and dozens of underwriters , brokers and administrators before being implemented	The proposal to sell directly to the public remains mired in bureaucratic quicksand
+6	Lloyd 's is moving forward on some fronts , though	the exchange is updating some procedures to make speedier payments on claims
+2	the exchange is updating some procedures to make speedier payments on claims	By next year , all underwriters will be linked to a communications network that could reduce paper work on claims
+5	Mr . Dozen succeeds Sadakane Doi , who will become vice chairman	Yoshitoki Chino retains his title of chairman of Daiwa , Japan 's second-largest securities firm
+5	In Japanese firms , the president usually is in charge of day-to-day operations , while the chairman 's role is more a ceremonial one	The title of chief executive officer is n't used
+2	While people within Daiwa , particularly internationalists , expected that Mr . Dozen , 52 , would eventually become Daiwa 's president , the speed of his promotion surprised many	It was only earlier this year that the jovial , easygoing executive was appointed deputy president
+5	Daiwa is one of the world 's largest securities firms	As of March 31 , the Daiwa group had shareholder equity of 801.21 billion yen ( $ 5.64 billion )
+5	As of March 31 , the Daiwa group had shareholder equity of 801.21 billion yen ( $ 5.64 billion )	For the six months ended Sept. 30 , Daiwa reported unconsolidated ( parent company ) net income of 79.03 billion yen ( $ 556.5 million ) on revenue of 332.38 billion yen ( $ 2.34 billion )
+5	All of Japan 's so-called Big Four securities firms have suffered setbacks in their attempts to break into foreign markets	While they have moved to the fore in underwriting fixed-income securities in the Eurobond market -- mostly for Japanese firms -- they have been only marginally profitable , if at all , in the U.S
+2	Mr . Dozen knows these problems firsthand	When he arrived in the U.S. in 1969 he tried selling Japanese yen-denominated bonds to U.S. investors
+8	Mr . Dozen knows these problems firsthand	When he arrived in the U.S. in 1969 he tried selling Japanese yen-denominated bonds to U.S. investors
+5	When he arrived in the U.S. in 1969 he tried selling Japanese yen-denominated bonds to U.S. investors	He made desperate efforts , using the yellow pages from beginning to end
+6	By his own account , Mr . Dozen did n't do much better with U.S. bonds	how after some training at Salomon Brothers Inc. , he successfully bid for the opportunity to sell portions of 20 U.S. corporate bond issues.But he could n't sell any
+2	But he could n't sell any	Japanese stock salesmen selling American bonds
+9	when he and two colleagues went on an overnight fishing expedition off the New Jersey shore and caught nothing	Upon returning to New York , `` Exhausted , I got into a taxicab , and the woman driver said : ` Americans make better fishermen
+5	He said that he was particularly interested in his firm gaining expertise in futures , options , mortgaged-backed securities , computerized trading and investment systems as well as mergers and acquisitions	Mr . Dozen said Daiwa 's strengths were its large capital base , its influential position in the Tokyo market and its links to Japanese corporations and institutional investors
+5	Mr . Dozen joined Daiwa upon his graduation from Kyoto University in 1959	Like many young recruits in Japanese securities firms , he began his career peddling stock to individual investors
+10	Mr . Dozen joined Daiwa upon his graduation from Kyoto University in 1959	Like many young recruits in Japanese securities firms , he began his career peddling stock to individual investors
+8	In his climb to the top , Mr . Dozen also headed the company 's stock-exchange division , its fixed-income units and its international operations	He was constantly picking up new things to fill out his experience
+2	He was constantly picking up new things to fill out his experience	he is very well-balanced
+2	But it Mr . Dozen 's experience as a salesman that enabled him to gain the political support -- particularly from the retail sales force -- to accede to the presidency	Commission income from domestic stock and bond sales accounts form a large portion of Japanese securities companies ' earnings
+2	If Mr . Dozen has a weakness , it may be his golf game	He digs in the sand instead of hitting the ball , like a farmer
+2	Inco shares fell after the announcements	some investors were disappointed that the cash-rich company had failed to announce a special dividend
+2	some investors were disappointed that the cash-rich company had failed to announce a special dividend	Inco closed at $ 31.125 a share , down 62.5 cents , in New York Stock Exchange composite trading
+5	Inco 's net fell to $ 129.3 million , or $ 1.23 a share , in the third quarter from $ 200.3 million , or $ 1.88 a share , a year earlier	Sales rose 8.2 % to $ 848.7 million from $ 784.5 million
+5	it plans to buy back as many as five million common shares over the next 12 months if nickel market conditions are favorable	Under a previous buyback program , Inco has purchased 1.7 million of its shares since April
+9	The effort to create the nation 's largest employee-owned company began unraveling Oct. 13 when the labor-management group was unable to obtain financing for its $ 300-a-share , $ 6.79 billion offer	Just last week it suffered another major setback when British Airways PLC , the largest equity investor in the labor-management bid , withdrew its support
+2	But it was clear that for the time being , the board wants the company to return to normalcy	it concluded that `` the welfare of the company , its shareholders , its employees and the broader public . . . can best be enhanced by continued development of UAL as a strong , viable , independent company
+1	Labor problems top the list	For a brief time , the buy-out effort seemed to solve his problems with United 's pilot union
+2	For a brief time , the buy-out effort seemed to solve his problems with United 's pilot union	In return for an ownership stake in the company , the pilots were willing to agree to a seven-year contract that included a no-strike clause and significant wage concessions and productivity gains the union previously resisted
+5	That contract was tied to the success of the buy-out	As a `` good-will measure , '' the pilots had been working four extra hours a month and had agreed to fly UAL 's two new Boeing 747-400 aircraft
+1	As a `` good-will measure , '' the pilots had been working four extra hours a month and had agreed to fly UAL 's two new Boeing 747-400 aircraft	It 's uncertain if the pilots will continue to do so without a contract settlement
+5	The buy-out effort also worsened already-strained relations between United 's pilot and machinist unions	The machinists ' criticisms of the labor-management bid and their threats of a strike unless they received substantial wage increases this year helped cool banks ' interest in financing the transaction
+2	The machinists previously had shown themselves to be an ally to Mr. Wolf , but he lost much of his credibility with that group when he teamed up with the pilot union	The machinists criticized the terms Mr. Wolf and management received in the buy-out
+8	The machinists criticized the terms Mr. Wolf and management received in the buy-out	They paid $ 15 million for a 1 % stake and received an additional 9 % of the company at no additional cost
+2	His credibility is also on the line in the investment community	Until the collapse of this bid , Mr. Wolf was regarded as one of the nation 's savviest airline executives after engineering turnarounds of Tiger International Inc. and Republic Airlines
+5	they were disappointed the company did n't announce some recapitalization or other plan to maximize value	that arbitragers could force a recapitalization through the written consent process under which holders may oust the board by a majority vote
+5	that arbitragers could force a recapitalization through the written consent process under which holders may oust the board by a majority vote	The machinists union has suggested it may propose a recapitalization that includes a special dividend for holders and a minority ownership stake for employees
+2	Tandy 's decision is a second setback for U.S. Memories	Last month , Apple Computer Inc. said that it would n't invest in the group
+2	that it would n't invest in the group	its money would be better spent in areas such as research and development
+2	its attempt to crack the $ 10 billion market for dynamic random access memory chips , a market dominated by the Japanese	Those chips were in dire shortage last year
+2	its experience during the shortage did n't merit the $ 5 million to $ 50 million investment U.S. Memories is seeking from each investor	At this time , we elected not to get involved
+1	but does n't presage U.S. Memories ' failure	I would like to have had them
+2	two or three major corporations to announce their participation in U.S. Memories soon after the group finishes a business plan , probably late this week	U.S. Memories needs a catalyst to inspire others to join
+6	But so far , most potential participants have n't decided	Sun Microsystems Inc. said it 's still actively evaluating U.S. Memories and plans to meet with U.S. Memories representatives later this week
+7	Sun Microsystems Inc. said it 's still actively evaluating U.S. Memories and plans to meet with U.S. Memories representatives later this week . American Telephone & Telegraph Co. said it was waiting to see U.S. Memories ' business plan	Personal-computer maker AST Research Inc. said it is still studying the situation
+8	In a startling turnabout , Members of the Senate Intelligence Committee are complaining that someone in the executive branch is leaking on them	David Boren , the Intelligence Committee chairman , is upset that someone leaked a letter to the committee from the Reagan administration suggesting that the U.S. would undertake to warn Panamanian thug Manuel Noriega if it got wind of an impending coup that might result in his assassination
+2	With due respect to `` highly classified correspondence '' and other buzzwords , the leakers are performing a public service	If the CIA has become a protection service for Mr. Noriega , the American people ought to know
+5	If the CIA has become a protection service for Mr. Noriega , the American people ought to know	What went wrong in Panama is a fitting subject for public and congressional inquiry
+1	What went wrong in Panama is a fitting subject for public and congressional inquiry	Naturally , Senator Boren and his committee would like free rein to blame the executive branch while stamping `` top secret '' on their own complicity
+1	The President of the United States urged the Panamanian armed forces to move against Mr. Noriega	When they did , his commanders did n't have the initiative to do more than block a couple of roads
+7	For example , what exactly did the CIA tell Major Giroldi and his fellow coup plotters about U.S. laws and executive orders on assassinations	What part did U.S. warnings play in the major 's unwillingness to pull the trigger when he had General Noriega in custody , but was under attack by pro-Noriega troops
+1	What part did U.S. warnings play in the major 's unwillingness to pull the trigger when he had General Noriega in custody , but was under attack by pro-Noriega troops	Mr. Noriega did n't suffer from any hesitation once he had the pistol
+2	Mr. Noriega did n't suffer from any hesitation once he had the pistol	Maybe we need a CIA version of the Miranda warning : You have the right to conceal your coup intentions , because we may rat on you
+5	CIA chief William Webster , hardly a Washington malcontent , got the debate started last week by noting that the executive order banning assassinations had contributed to U.S. paralysis during the coup	The CIA 's Deputy Director of Operations , Richard Stoltz , tried to smooth things over a few days later , but instead simply underlined Mr. Webster 's point
+8	but instead simply underlined Mr. Webster 's point	The interpretation '' of the executive order and the way in which the various committees have over time interpreted it , has led in my view to a proper caution on the part of operators , including me
+2	In other words , Congress wo n't let the CIA do much of anything anymore , and that 's fine with the CIA	The pay 's the same , and the duty 's lighter
+6	And of course , doing anything that might be second-guessed by Congress carries heavy penalties	Witness the Walsh prosecution of Ollie North
+8	Witness the Walsh prosecution of Ollie North	The Intelligence Committee 's ranking Republican , Senator William Cohen , joined with Senator George Mitchell to write a best seller about Iran-Contra , deploring `` Men of Zeal
+2	No doubt many people in the CIA , the Pentagon and the National Security Council have read it	What kind of initiative should anyone expect from people out on the line who 've read all this and know what can happen if they fail
+8	What kind of initiative should anyone expect from people out on the line who 've read all this and know what can happen if they fail	Who wants to end up as the protagonist in a Bill Cohen morality play
+2	The order against assassinations is another artifact of the same congressional mind-set , a product of the 1970s Vietnam syndrome against any executive action	President Bush would do himself and the country a favor by rescinding the order as an ambiguous intrusion on his ability to defend America 's national security
+2	President Bush would do himself and the country a favor by rescinding the order as an ambiguous intrusion on his ability to defend America 's national security	There are of course good reasons the U.S. should n't get into the assassination business , but rescinding the executive order is not the same thing as saying the U.S. should start passing out exploding cigars
+2	but rescinding the executive order is not the same thing as saying the U.S. should start passing out exploding cigars	The world being the nasty place it is , we want Presidents to have the freedom to order operations in which someone might get killed
+2	The world being the nasty place it is , we want Presidents to have the freedom to order operations in which someone might get killed	In such situations , you can not write rules in advance , you can only make sure the President takes the responsibility
+2	The executive order and the reported agreements with the Intelligence Committee are neither sensible nor moral	As it now stands , the U.S. can bomb Tripoli , but ca n't `` assassinate '' Colonel Gadhafi
+8	The executive order and the reported agreements with the Intelligence Committee are neither sensible nor moral	As it now stands , the U.S. can bomb Tripoli , but ca n't `` assassinate '' Colonel Gadhafi
+5	As it now stands , the U.S. can bomb Tripoli , but ca n't `` assassinate '' Colonel Gadhafi	It can send a fighter squadron to strafe terrorist hideouts in the Bekaa Valley , but ca n't shoot Abu Nidal
+8	It can send a fighter squadron to strafe terrorist hideouts in the Bekaa Valley , but ca n't shoot Abu Nidal	Both the assassination order and the quality of debate in Washington are telling the world that the only way the U.S. will kill a madman is by making sure we take some innocent civilians with him
+5	when he asked Democratic Assemblyman Richard Katz if Prop . 13 had withheld money needed for road maintenance	Mr. Katz happily agreed , sliding over the fact that California 's roads and bridges are n't funded by property taxes but by state and federal gasoline taxes
+9	when he asked Democratic Assemblyman Richard Katz if Prop . 13 had withheld money needed for road maintenance	Mr. Katz happily agreed , sliding over the fact that California 's roads and bridges are n't funded by property taxes but by state and federal gasoline taxes
+5	that California 's roads and bridges are n't funded by property taxes but by state and federal gasoline taxes	Both have been raised at least 30 % in recent years , even while the price of gasoline has fallen
+2	Both have been raised at least 30 % in recent years , even while the price of gasoline has fallen	Dragging Prop . 13 into this story is a pretty long stretch
+1	The Bartlesville , Okla. , oil company late yesterday still had n't said officially what caused the explosions and fires , which sent columns of heavy black smoke billowing high into the air	One local Phillips manager said a seal blew in one of the plant 's reactors
+5	The U.S. Coast Guard closed six miles of the Houston Ship Channel , where about 150 companies have operations , because the thick , black smoke obscured the area	The Port of Houston closed its terminal for handling bulk cargo
+5	The blasts blew out windows , spewed debris for miles and crumpled the ceiling in an area elementary school	The initial fireball was caught by cameras in downtown Houston , about 10 miles away
+8	that 104 people had been taken to area hospitals	The injured , including three in critical condition , were treated for burns , breathing problems and cuts from flying glass
+1	The plant employs between 800 and 900 on three shifts	The number working at the time of the blast was n't known
+9	Yesterday 's explosions were the second round in two months at the plastics plant	In late August , four contract workers were injured and one Phillips employee died after an explosion at a fuel supply line near the facility 's boiler house
+5	The Phillips facility manufactures polyethylene , polypropylene and K-resin , plastics used in a wide array of applications , including milk jugs and toys	Plastics are the cornerstone of Phillips ' chemicals operations
+1	its third-quarter earnings slipped 9 % as profits from two of its three major businesses sagged	All cleanup costs from last spring 's Alaskan oil spill were reflected in earlier results
+1	Phillips Petroleum Co. and Atlantic Richfield Co. also reported declines in quarterly profit , while Ashland Oil Inc. posted a loss for the latest quarter	Amerada Hess Corp. and Occidental Petroleum Corp. reported higher earnings
+1	that charges already taken do n't take into account the potential effect of litigation involving the oil spill	that impact ca n't be reasonably assessed yet
+5	Exxon 's net income during the third quarter dropped to $ 1.11 billion , or 87 cents a share , from $ 1.22 billion , or 93 cents a share , a year earlier	Revenue rose 8.1 % , to $ 23.65 billion from $ 21.88 billion
+8	Exxon 's profitability , like that of many other oil companies , was hurt during the third quarter by declining returns from the chemicals and refining and marketing businesses	Exxon 's earnings from chemicals operations fell $ 90 million , to $ 254 million , while refining and marketing profits declined $ 180 million , to $ 357 million
+8	Although crude oil prices were significantly higher this year , they were n't strong enough to offset the declining profits in those business sectors at most oil companies	that the price of West Texas Intermediate , the U.S. benchmark crude , was $ 4.04 a barrel higher during the third quarter of this year than in the same period last year
+1	A rash of one-time charges left Ashland Oil with a loss of $ 39 million for its fiscal fourth quarter	A year earlier , the refiner earned $ 66 million , or $ 1.19 a share
+5	A year earlier , the refiner earned $ 66 million , or $ 1.19 a share	Quarterly revenue rose 4.5 % , to $ 2.3 billion from $ 2.2 billion
+1	Quarterly revenue rose 4.5 % , to $ 2.3 billion from $ 2.2 billion	For the year , net income tumbled 61 % to $ 86 million , or $ 1.55 a share
+8	The Ashland , Ky. , oil company reported a $ 38 million charge resulting from settlement of a 10-year dispute with the National Iranian Oil Co. over claims that Ashland did n't pay for Iranian crude it had received	In September , Ashland settled the long-simmering dispute by agreeing to pay Iran $ 325 million
+5	Third-quarter earnings at Amerada Hess more than tripled to $ 51.81 million , or 64 cents a share , from $ 15.7 million , or 20 cents a share , a year earlier	Revenue climbed 28 % , to $ 1.18 billion from $ 925 million
+8	Profits improved across Hess 's businesses	Refining and marketing earnings climbed to $ 33.3 million from $ 12.9 million , and exploration and production earnings rose to $ 37.1 million from $ 17.9 million
+5	Refining and marketing earnings climbed to $ 33.3 million from $ 12.9 million , and exploration and production earnings rose to $ 37.1 million from $ 17.9 million	Hess 's earnings were up despite a $ 30 million charge to cover the cost of maintaining operations after Hurricane Hugo heavily damaged the company 's refinery at St. Croix
+5	Hess 's earnings were up despite a $ 30 million charge to cover the cost of maintaining operations after Hurricane Hugo heavily damaged the company 's refinery at St. Croix	that Hess had to buy oil products in the high-priced spot markets to continue supplying its customers
+1	It is widely known within industry circles that Hess had to buy oil products in the high-priced spot markets to continue supplying its customers	Hess declined to comment
+5	Phillips Petroleum 's third-quarter earnings slid 60 % , to $ 87 million , or 36 cents a share , from $ 215 million , or 89 cents a share	Revenue rose 6.9 % , to $ 3.1 billion from $ 2.9 billion
+5	Shrinking profit margins in chemical and refining and marketing sectors accounted for most of the decline	Despite higher oil prices , exploration and production profits were off because of foreign-currency losses and some construction costs incurred in one of Phillips ' North Sea oil fields
+1	Despite higher oil prices , exploration and production profits were off because of foreign-currency losses and some construction costs incurred in one of Phillips ' North Sea oil fields	A year ago , results were buoyed by a $ 20 million after-tax gain from an asset sale
+5	Citing its reduced ownership in the Lyondell Petrochemical Co. , Atlantic Richfield reported that net income slid 3.1 % in the third quarter to $ 379 million , or $ 2.19 a share , from $ 391 million , or $ 2.17 a share , for the comparable period last year	Sales fell 20 % , to $ 3.7 billion from $ 4.6 billion
+1	Arco 's earnings from its 49.9 % stake in Lyondell fell to $ 37 million from $ 156 million for the same period last year , when Lyondell was wholly owned	Offsetting the lower stake in Lyondell were higher crude oil prices , increased natural gas volumes and higher coke prices
+6	Offsetting the lower stake in Lyondell were higher crude oil prices , increased natural gas volumes and higher coke prices	Coal earnings rose to $ 26 million from $ 21 million
+1	and the second largest in the four-year history of the $ 45 billion asset-backed market	The largest issue was a $ 4 billion offering of auto-loan securities by General Motors Acceptance Corp. in 1986
+5	The Ford issue , through Ford Credit 1989-A Grantor Trust , was priced at a yield spread of 95 basis points above the Treasury 7 3/4 % issue due July 1991	The offering is rated doubleA-2 by Moody 's and double-A by S & P , based on the quality of the underlying auto loans and a guarantee covering 9 % of the deal from Ford Motor Credit
+7	But I 'm going to proceed in a more logical way	I 'm not going to do anything that is not acceptable in anyone 's home
+8	Ninety percent of Mort 's old show fits into our style	That is consumer issues
+5	which fell 26.23 to 2662.91	Declining issues on the New York Stock Exchange outpaced advancers , 1,012 to 501
+2	Recession fears are springing up again among investors	that the selling of cyclical stocks yesterday will be followed by a sell-off in shares of companies with big debt loads on their balance sheets
+2	that the selling of cyclical stocks yesterday will be followed by a sell-off in shares of companies with big debt loads on their balance sheets	In an economic slowdown , heavy debt loads reduce the flexibility of companies
+8	On the other hand , investors beat a clear path yesterday to blue-chip issues with proven earnings growth records	Among the 30 Dow industrials , they bought McDonald 's , Coca-Cola Co. and Procter & Gamble and sold Aluminum Co. of America
+6	Many money managers are bracing for a decline in stocks of companies with big debt loads on their balance sheets	The junk bond market is being taken apart '' because of recession fears , said J. David Mills , senior vice president at Boston Company Advisers
+2	The junk bond market is being taken apart '' because of recession fears	Under this scrutiny , the first thing you do is sell your cyclical stocks and the second thing you do is sell your over-leveraged companies
+5	In fact , much of the buying in blue chips yesterday was a pursuit of companies with lower debt levels	In a recent investment letter entitled `` Winners of the ` Leverage Wars , ' `` Edward Kerschner , chairman of PaineWebber 's investment policy committee , suggested that investors buy stocks of companies that have avoided loading up on debt
+5	We 're saying companies have to pay increasing attention to balance sheets , '' said Mr. Kerschner	He suggested that investors buy the shares of Great Atlantic & Pacific Tea , J. Baker , McDonald 's , Philip Morris and Sara Lee
+2	that investors buy the shares of Great Atlantic & Pacific Tea , J. Baker , McDonald 's , Philip Morris and Sara Lee	that all of these companies will be able to compete fiercely in an economic downturn
+8	that all of these companies will be able to compete fiercely in an economic downturn	McDonald 's has long-term debt equaling 91 % of shareholder equity currently , but the company is carrying real estate assets at about $ 2.6 billion below their real value
+7	Coca-Cola climbed 1 3/8 to 72 1/8 ; McDonald 's added 1 to 31 3/8 , and Procter & Gamble gained 3/4 to 130 5/8	A & P fell 1 1/4 to 57 5/8 , and J. Baker gained 3/8 to 21 1/4
+7	Coca-Cola climbed 1 3/8 to 72 1/8 ; McDonald 's added 1 to 31 3/8 , and Procter & Gamble gained 3/4 to 130 5/8.A & P fell 1 1/4 to 57 5/8 , and J. Baker gained 3/8 to 21 1/4	Philip Morris slipped 1/2 to 43 7/8 , while Sara Lee closed unchanged at 60 1/8
+2	According to Salomon Brothers ' `` stub '' stock index of 20 companies whose debt is giant compared with shareholder equity , investors are already beginning to retreat from shares of debt-laden companies	From January to early September , the index of stub stocks -- the tiny portion of equity that 's publicly traded following a recapitalization -- outperformed Standard & Poor 's 500-stock index by about 20 % .But starting in early September , the index started to slide and now stands about even with the S & P 500
+5	Stocks that have a high default risk have started to underperform those stocks that have a lower default risk	Companies that have the most exposure to the business cycle have underperformed since late last summer
+7	Other weak blue-chip issues included Chevron , which went down 2 to 64 7/8 in Big Board composite trading of 1.3 million shares ; Goodyear Tire & Rubber , off 1 1/2 to 46 3/4 , and American Express , down 3/4 to 37 1/4	Texas Instruments went down 2 1/8 to 33 on 1.1 million shares
+2	Pinnacle West Capital fell 1 5/8 to 9 1/8 on 2.1 million shares to lead the Big Board 's list of most active issues	Growing pressures on the Arizona real-estate market are affecting the thrift
+5	Growing pressures on the Arizona real-estate market are affecting the thrift	it may consider filing for Chapter 11 bankruptcy protection if it ca n't reach an agreement with federal regulators to provide additional capital to MeraBank
+5	Hercules dropped 2 5/8 to 41 3/4 on one million shares -- about six times its average daily trading volume -- after a disappointing third-quarter earnings report	Merrill Lynch and Prudential-Bache Securities both lowered the stock 's investment rating immediately after the results were issued Friday , according to PIR
+5	Elsewhere in the chemicals sector , Dow Chemical fell 1 1/4 to 97 1/2 , Monsanto lost 1 7/8 to 118 , B.F. Goodrich slipped 2 1/4 to 44 3/4 and Olin slid 1 to 57 3/4	Other stocks hurt by earnings-related selling included Tandy , which dropped 1 3/8 to 44 , and Eaton , which retreated 2 1/2 to 57 1/2
+2	Other stocks hurt by earnings-related selling included Tandy , which dropped 1 3/8 to 44 , and Eaton , which retreated 2 1/2 to 57 1/2	Third-quarter earnings at both companies were below analysts ' forecasts
+5	Mead gained 1 to 37 7/8	USA Today reported that the Rales brothers , Washington , D.C.-based investors who made an unsuccessful offer to acquire Interco last year , have bought nearly 3 % of Mead 's common shares
+6	Entertainment and media stocks generally escaped the market 's slide as well	Paramount Communications rose 5/8 to 58 3/4 , Time Warner climbed 1 7/8 to 138 5/8 , Walt Disney advanced 3 1/8 to 127 1/2 , MCA rose 1 1/8 to 65 5/8 and McGraw-Hill added 1/2 to 67 1/8
+5	The American Stock Exchange Market Value Index lost 3.11 to 379.46	Volume totaled 10,450,000 shares
+2	Carnival Cruise Lines Class A fell 1 3/4 to 20 3/4	The company said it had been notified unofficially that Waertsilae Marine Industries , a Finnish shipyard building three cruise ships for the company , is having financial trouble and may already have filed for bankruptcy
+2	Hacksaw '' and `` Bonecrusher '' are the sort of nicknames normally associated with linebackers and heavyweight contenders	Who 'd have thought that the next group of tough guys carrying around reputations like that would be school superintendents ?
+9	Chicago 's new school chief is the hard-nosed Ted Kimbrough	At his old job in Compton , Calif. , he took a bitter teachers ' strike and nearly came to blows with a school-board member
+9	At his old job in Compton , Calif. , he took a bitter teachers ' strike and nearly came to blows with a school-board member	At his first Chicago press conference , he berated the reporters
+5	At his first Chicago press conference , he berated the reporters	In New York City , the new Chancellor , Joseph Fernandez , has landed like a 16-inch shell in the middle of a system that has been impervious to serious reform
+5	The subject of the movie `` Lean on Me , '' Mr. Clark controlled his school with a bullhorn and a baseball bat	He may have gone overboard in his pursuit of good discipline , but is n't it interesting that some of the country 's biggest , most troubled school districts are choosing new chiefs from the same gravel-chewing mold
+6	but is n't it interesting that some of the country 's biggest , most troubled school districts are choosing new chiefs from the same gravel-chewing mold	Elena Scambio , the woman assigned to run the Jersey City school system that was taken over by the state , says her top priority will be to `` cut through the dead hand of bureaucracy
+6	Mr. Fernandez does n't take control in New York until January , but already he 's roiling the waters	He 's attacked the concept of `` building tenure , '' one of the most disgraceful institutions in American public schools
+8	It means it is virtually impossible to fire or even transfer incompetent principals	Once they are in the building , they stay
+6	Once they are in the building , they stay	One South Bronx principal kept his job for 16 years , despite a serious drinking problem and rarely showing up for work
+1	One South Bronx principal kept his job for 16 years , despite a serious drinking problem and rarely showing up for work	He was finally given leave when he was arrested for allegedly buying crack
+2	Naturally , the principals ' union loves building tenure , and tenure has withstood previous challenge	We suggest that Mr. Fernandez find an incompetent principal , toss him out of the building and let the forces of the status quo explain to the parents whatever it is they 're defending
+5	We suggest that Mr. Fernandez find an incompetent principal , toss him out of the building and let the forces of the status quo explain to the parents whatever it is they 're defending	In his old job , as Dade County chief , Mr. Fernandez forced out 92 teachers and reshuffled 48 principals
+5	In his old job , as Dade County chief , Mr. Fernandez forced out 92 teachers and reshuffled 48 principals	He cut the dropout rate by 5.5 %
+2	The situation will be especially delicate for Mr. Kimbrough	He takes over a school system in the midst of radical reform
+2	a school system in the midst of radical reform	Chicagoans have just elected 540 neophyte school boards , one for each school
+1	Chicagoans have just elected 540 neophyte school boards , one for each school	This of course led to disaster in New York City
+2	This of course led to disaster in New York City	Getting a community of parents to care again about its schools is essential , but in Chicago the new boards will make mistakes and Mr. Kimbrough will have to identify them
+8	the process of disintegration in many school systems	The schools ' central mission , educating children , became subsumed by the competing interests of bureaucrats , politicians and unions
+5	The schools ' central mission , educating children , became subsumed by the competing interests of bureaucrats , politicians and unions	The classroom itself operated on the periphery of this awful system , discipline collapsed , and kids stopped learning
+1	Mr. Chips was a nice fellow , and maybe some day he 'll return	Until then , it 's clear that some of the people who 've been keeping big-city schools down are going to be dealing with the Terminator
+8	ending a long association between the two companies that has turned increasingly bitter recently	Goodson has accused Ingersoll of paying less attention to its properties and more to such ventures as the recent launch of the St. Louis Sun
+5	Under the terms of the accord , Ingersoll will pay about $ 255 million for the Register , a daily that Goodson bought for about $ 170 million in 1986	Goodson will pay the additional $ 20 million in settlement of the management contract
+1	The New Jersey paper , like the New Haven , Conn. , paper , was purchased by Ingersoll on Goodson 's behalf as part of the management contract	that the purchase price for the paper was too high , causing a strain on Goodson 's finances
+2	that the purchase price for the paper was too high , causing a strain on Goodson 's finances	Goodson is seeking a new bank credit line of $ 190 million and may have to sell additional newspapers
+5	The association between the two companies stretches back thirty years to a friendship between television producer Mark Goodson and Ingersoll founder Ralph Ingersoll	The latter 's son , Ralph Ingersoll Jr. , took over the company
+9	The association between the two companies stretches back thirty years to a friendship between television producer Mark Goodson and Ingersoll founder Ralph Ingersoll	The latter 's son , Ralph Ingersoll Jr. , took over the company
+5	Ingersoll has 28 dailies and 200 other non-daily papers in the U.S. and Europe	its revenue will exceed $ 750 million this year
+1	Ingersoll President Robert M. Jelenic said in a statement that the company is `` delighted by the conclusion of the Goodson relationship '' and will be able to `` concentrate all our energies '' on Ingersoll 's own papers	Mr. Goodson , in his own statement , was less upbeat , saying `` unfortunately over the past few years , it has become increasingly clear that Ralph and I have different agendas , '' and that he feels `` more comfortable with a management team whose sole interest and responsibility is in the Goodson papers
+8	he will retire in December	that he would retire by the end of this year to take `` executive responsibility '' for an embarrassing effort to discredit banker Edmond Safra
+8	for an embarrassing effort to discredit banker Edmond Safra	American Express representatives apparently influenced the publication of unfavorable articles about Mr. Safra
+2	Ad industry executives were n't surprised by Mr. Roman 's decision to leave Ogilvy	The agency , under his direction , bitterly fought a takeover attempt by WPP Group PLC of London before succumbing in May
+5	Mr. Roman will be succeeded as the head of Ogilvy 's flagship ad agency , Ogilvy & Mather Worldwide , by Graham Phillips , 50 , who had been president of North American operations and who , like Mr. Sorrell , is British	Alexander Brody , 56 , will take on the newly created position of president of the world-wide agency and chief executive of its international operations
+10	Mr. Roman will be succeeded as the head of Ogilvy 's flagship ad agency , Ogilvy & Mather Worldwide , by Graham Phillips , 50 , who had been president of North American operations and who , like Mr. Sorrell , is British	Alexander Brody , 56 , will take on the newly created position of president of the world-wide agency and chief executive of its international operations
+9	Alexander Brody , 56 , will take on the newly created position of president of the world-wide agency and chief executive of its international operations	He had been president of the international operations
+2	Mr. Roman appears custom-made for the American Express job	Known as a traditional executive , he is very much in the conservative American Express mold
+2	He also is close to American Express 's chairman and chief executive officer , James D. Robinson III	Aside from working with Mr. Robinson on the American Express advertising account for about 11 years , Mr. Roman serves on several of the same charities and boards as Mr. Robinson
+8	But Mr. Roman flatly denied the speculation , saying Mr. Sorrell had tried several times to persuade him to stay , offering various incentives and in one instance sending a note with a case of wine ( The wine , naturally , was Seagram 's brand , an Ogilvy client )	He asked me not to resign
+2	He asked me not to resign	The implication that I was pushed aside would n't be accurate
+8	he agreed to take the job because `` it 's the right time , it 's a terrific opportunity , and I think I leave the company in very strong hands	It was my decision , not anyone else 's
+1	Mr. Roman also brushed aside reports about infighting between him and Mr. Phillips , his successor at Ogilvy	The two executives could hardly be more different
+2	The two executives could hardly be more different	Mr. Roman comes across as a low-key executive ; Mr. Phillips has a flashier personality
+8	The two executives could hardly be more different	Mr. Roman comes across as a low-key executive ; Mr. Phillips has a flashier personality
+1	Mr. Roman comes across as a low-key executive	Mr. Phillips has a flashier personality
+6	Mr. Roman comes across as a low-key executive ; Mr. Phillips has a flashier personality	During time off , Mr. Roman tends to his garden ; Mr. Phillips confesses to a fondness for , among other things , fast cars and planes
+1	During time off , Mr. Roman tends to his garden	Mr. Phillips confesses to a fondness for , among other things , fast cars and planes
+1	During time off , Mr. Roman tends to his garden ; Mr. Phillips confesses to a fondness for , among other things , fast cars and planes	that although the two executives used to clash more frequently , the WPP takeover brought them closer together
+1	I 'm the guy who made him head of New York , head of the U.S. , president of North America , and recommended him { to Mr. Sorrell } as my successor	Would I have done all those things successively if I did n't think he was the right guy ?
+5	Would I have done all those things successively if I did n't think he was the right guy ? '' Mr. Roman asked	He labeled reports of friction `` ridiculous , '' and said that he spent part of the weekend on Mr. Phillips 's boat in Connecticut
+6	to have any enormous repercussions at Ogilvy	the move wo n't affect their relationships with the ad agency
+6	American Express , Kraft General Foods , and Mattel executives said the move wo n't affect their relationships with the ad agency	General Foods 's relationships with its agencies are based on the agencies ' work , and will continue to be , '' said David Hurwitt , a vice president of Kraft General Foods
+6	But some clients and analysts expressed concern that Mr. Phillips is n't as well-known to many clients	Ken was my key contact , '' said J. Nicholas Hahn , president and chief executive officer of Cotton Inc. , which represents cotton producers
+1	Ken was my key contact	I do n't know { Mr.Phillips } all that well
+5	I do n't know { Mr.Phillips } all that well	I have n't seen or talked to him in several years
+2	And some analysts questioned whether Mr. Phillips would have the skills Ogilvy needs to turn the agency around	its flagship New York office has had a dismal track record recently
+8	its flagship New York office has had a dismal track record recently	it has won few new accounts while losing big ones , including Maxwell House
+2	it has won few new accounts while losing big ones , including Maxwell House	I think { Mr.Phillips } is going to need some help
+2	{ Mr.Phillips } is going to need some help	they need creative leadership , and I do n't think they have it
+5	Ogilvy & Mather 's top creative executive , Norman Berry , left the agency earlier this year	Norm Berry was a creative inspiration at the company , and nobody has filled that void
+2	that having Mr. Phillips succeed Mr. Roman would make for a smooth transition	Graham Phillips has been there a long time , knows the culture well , is aggressive , and apparently gets along well with '' Mr. Sorrell
+2	Graham Phillips has been there a long time , knows the culture well , is aggressive , and apparently gets along well with '' Mr. Sorrell	It 's probably a reasonable transition
+8	It 's probably a reasonable transition	Hopefully , he 'll be the answer to the problems they 've had in New York
+6	The Turner move is in line with a cable-TV trend toward more original programming -- and toward finding more ways to amortize the high cost of producing films	In July , Viacom Inc. formed Viacom Pictures to produce 12 low-budget movies a year that will premiere on Showtime network and be distributed later in various markets , including foreign theaters
+8	making this one of France 's largest-ever attempted takeovers	The cost of buying the additional 48 % stake would be 10.95 billion francs ( $ 1.74 billion )
+8	Allianz holds a 50 % stake in Navigation Mixte 's insurance interests , acquired three weeks ago	Those include Rhin et Moselle Vie and Via Assurances
+1	Long considered a potential takeover target , Navigation Mixte had hoped Allianz would help protect it from raiders	That idea may have backfired
+2	That idea may have backfired	Paribas is Allianz 's main French bank , and it intends to stay neutral
+8	That idea may have backfired	Paribas is Allianz 's main French bank , and it intends to stay neutral
+8	But Navigation Mixte is loosely held and hard to defend	The defensive options are limited
+2	The defensive options are limited	Who would bid against Paribas ?
+8	If the Paribas bid succeeds , it will be the second time in two months a big French investment banking group has snapped up an insurance group	Last month , Paribas 's archrival , Cie.Financiere de Suez , won a battle for Groupe Victoire , France 's second-largest private-sector insurer
+3	If the Paribas bid succeeds , it will be the second time in two months a big French investment banking group has snapped up an insurance group	Last month , Paribas 's archrival , Cie.Financiere de Suez , won a battle for Groupe Victoire , France 's second-largest private-sector insurer
+5	Last month , Paribas 's archrival , Cie.Financiere de Suez , won a battle for Groupe Victoire , France 's second-largest private-sector insurer	That complex bid was billed as France 's largest takeover ever ( this one is slightly smaller )
+5	Paribas officials , once considered France 's toughest bankers , felt abashed at Suez 's success and its rapid growth	the new bid in part simply reflects the continuing rivalry between France 's two largest investment banking groups
+2	It also reflects the broader pressure on companies in Europe to keep up as the European Community prepares to reduce internal trade barriers by 1992	the potential for the two groups instead to cooperate
+2	the acquisition would give Paribas fresh diversity , bringing it properties in food and transport where it has been weak	Navigation Mixte has investments in a sugar company , a food and canning concern , a bakery and bus and trucking firms , among others
+8	And Navigation Mixte has a huge hidden attraction	Payment by Allianz for the insurance interests it has just bought will help swell the French concern 's treasury to an estimated 11 billion francs
+1	that Paribas blundered in failing to move sooner for the insurance and industrial group , bidding only after speculation had pushed up the price	that his group initially intended to take only a minority stake , striking an alliance with current management
+1	that his group initially intended to take only a minority stake , striking an alliance with current management	When notoriously independent-minded Navigation Mixte Chairman Marc Fournier rejected Paribas 's offer and began buying Paribas shares in retaliation he felt obliged to bid for control
+2	When notoriously independent-minded Navigation Mixte Chairman Marc Fournier rejected Paribas 's offer and began buying Paribas shares in retaliation he felt obliged to bid for control	that Mr. Fournier was preparing to buy as much as 20 % of Paribas , up from less than 5 % currently
+2	A bid against Paribas could n't be ruled out	France 's second-largest government-owned insurance company , Assurances Generales de France , has been building its own Navigation Mixte stake , currently thought to be between 8 % and 10 %
+8	A bid against Paribas could n't be ruled out	France 's second-largest government-owned insurance company , Assurances Generales de France , has been building its own Navigation Mixte stake , currently thought to be between 8 % and 10 %
+2	With prices already headed lower , news of a series of explosions at a major Phillips Petroleum Co. chemical facility on the Houston Ship Channel also was bearish for prices	Even though such facilities use a relatively small amount of crude now the facility wo n't need any , at a time of already high availability
+2	the explosions began when a seal blew out	Dozens of workers were injured
+2	that prices inevitably will go lower now that they 've fallen below $ 20 a barrel	Our technician is a little bearish now that we 've taken out $ 20
+8	The selling that started on Friday continued yesterday	The December contract fell 3.85 cents a pound to $ 1.1960
+3	The selling that started on Friday continued yesterday	The December contract fell 3.85 cents a pound to $ 1.1960
+5	The December contract fell 3.85 cents a pound to $ 1.1960	London Metal Exchange warehouse stocks were down only 4,800 metric tons for the week to 84,500 tons
+0	London Metal Exchange warehouse stocks were down only 4,800 metric tons for the week to 84,500 tons	expectations late last week were a drop of 10,000 to 15,000 tons
+5	Fund selling also picked up at that point	According to Bernard Savaiko , senior commodity analyst at PaineWebber , the only stability to the market came when short sellers periodically moved in to cover their positions by buying contracts
+5	This activity produced small rallies , which in turn attracted new short selling	that copper had a steep fall in spite of a weak dollar , which would normally support the U.S. copper market
+1	Copper has been stuck in a trading range of $ 1.19 to $ 1.34	that if copper falls below the bottom of this range the next significant support level will be about $ 1.04
+8	Platinum and palladium struggled to maintain their prices all day despite news stories over the weekend that recent cold fusion experiments , which use both metals , showed signs of producing extra heat	January platinum closed down $ 2.80 an ounce at $ 486.30 , nearly $ 4 above its low for the day.December palladium was off $ 1.55 an ounce at $ 137.20
+5	January platinum closed down $ 2.80 an ounce at $ 486.30 , nearly $ 4 above its low for the day	December palladium was off $ 1.55 an ounce at $ 137.20
+2	Some traders were thought to be waiting for the auto sales report , which will be released today	Such sales are watched closely by platinum and palladium traders because both metals are used in automobile catalytic converters
+1	Such sales are watched closely by platinum and palladium traders because both metals are used in automobile catalytic converters	that the news on cold fusion did n't affect the market yesterday because many traders have already been badly burnt by such stories
+2	because many traders have already been badly burnt by such stories	the traders are demanding a higher level of proof before they will buy palladium again
+2	Also weighing on both metals ' prices is the role of the chief supplier , the Soviet Union	that the Soviets ' thirst for dollars this year to buy grain and other Western commodities and goods will bring them to the market whenever prices rally very much
+8	Prices closed mixed as contracts reacted to largely offsetting bullish and bearish news	On the Chicago Board of Trade , soybeans for November delivery closed at $ 5.63 a bushel , down half a cent , while the December wheat contract rose three-quarters of a cent to $ 4.0775 a bushel
+5	On the Chicago Board of Trade , soybeans for November delivery closed at $ 5.63 a bushel , down half a cent , while the December wheat contract rose three-quarters of a cent to $ 4.0775 a bushel	Supporting prices was the announcement late Friday of additional grain sales to the Soviet Union
+8	World prices tumbled , mostly from their own weight , according to analysts	The March contract ended at 13.79 cents a pound , down 0.37 cent
+5	But with no reports of either country actually entering the market , analysts said , futures prices became vulnerable	Developing countries such as India seem to have made it a point to stay away whenever sugar reached the top of its trading range , around 14.75 cents , and wait for prices to return to the bottom of the range , around 13.50 cents
+5	Speculators got too long too soon and ran into resistance around the old contract highs	that in light of a new estimate of a production increase of four million metric tons and only a modest increase in consumption , sugar is n't likely to rise above the top of its trading range without a crop problem in a major producing country
+8	Futures rallied modestly	The December contract rose $ 33 a metric ton to $ 1,027 , near its high for the day
+2	The December contract rose $ 33 a metric ton to $ 1,027 , near its high for the day	that the 1989-90 world cocoa surplus would be 231,000 tons , down from 314,000 tons for the previous year
+5	Market technicians were encouraged by the price patterns , which in the past have preceded sharp rallies	Recent prices for cocoa have been near levels last seen in the mid-1970s
+1	He also noted that a strong sterling market yesterday might have helped cocoa in New York as arbitragers took advantage of the currency move	Sandra Kaul , research analyst at Shearson Lehman Hutton , said the market pushed higher mainly in anticipation of a late harvest in the Ivory Coast , a major cocoa producer
+5	Early in the day , bonds rose modestly on economists ' forecasts that this week 's slate of economic data will portray an economy headed for trouble	Such news is good for bonds because economic weakness sometimes causes the Federal Reserve to lower interest rates in an effort to stimulate the economy and stave off a recession
+8	when stock prices moved broadly lower	The Dow Jones Industrial Average fell 26.23 points to 2662.91
+2	Bond investors have been watching stocks closely	When you get a big sell-off in equities , money starts to shift into bonds
+5	The Treasury 's benchmark 30-year bond ended about 1/2 point higher , or up about $ 5 for each $ 1,000 face amount , while the yield slid to 7.93 % from 7.98 % Friday	Municipals ended mixed , while mortgage-backed and investment-grade corporate bonds rose
+5	The Treasury 's benchmark 30-year bond ended about 1/2 point higher , or up about $ 5 for each $ 1,000 face amount , while the yield slid to 7.93 % from 7.98 % Friday.Municipals ended mixed , while mortgage-backed and investment-grade corporate bonds rose	Prices of high-yield , high-risk corporate securities ended unchanged
+2	On the other hand , we have economic news that is { expected to be } relatively positive for the bond market	We will go back and forth with a tilt toward slightly lower yields
+5	Today , the Treasury will sell $ 10 billion of new two-year notes	Tomorrow , Resolution Funding Corp. , a division of a new government agency created to bail out the nation 's troubled thrifts , will hold its first bond auction at which it will sell $ 4.5 billion of 30-year bonds
+5	So far , money managers and other bond buyers have n't shown much interest in the Refcorp bonds	Analysts have mixed views about the two-year note auction
+6	Analysts have mixed views about the two-year note auction	While some say the auction should proceed smoothly , others contend that yesterday 's sale of $ 2.58 billion of asset-backed securities by Ford Motor Credit Corp. may have siphoned some potential institutional buyers from the government 's note sale
+8	The division of auto maker Ford Motor Co. made its debut in the asset-backed securities market with the second-largest issue in the market 's four-year history	The company offered securities backed by automobile loans through an underwriting group headed by First Boston Corp
+5	The issue yields 8.90 % and carries a guarantee covering 9 % of the deal from the company	First Boston sweetened the terms from the original yield estimate in an apparent effort to place the huge offering
+8	First Boston sweetened the terms from the original yield estimate in an apparent effort to place the huge offering	The issue was offered at a yield nearly one percentage point above the yield on two-year Treasurys
+7	The benchmark 30-year bond ended at a price of 102 3/32 , compared with 101 17/32 Friday	The latest 10-year notes were quoted late at 100 17/32 to yield 7.90 % , compared with 100 3/32 to yield 7.97 %
+7	The benchmark 30-year bond ended at a price of 102 3/32 , compared with 101 17/32 Friday.The latest 10-year notes were quoted late at 100 17/32 to yield 7.90 % , compared with 100 3/32 to yield 7.97 %	The latest two-year notes were quoted late at 100 28/32 to yield 7.84 %
+5	The Treasury sold $ 7.81 billion of three-month bills with an average discount rate of 7.52 % , the highest since the average of 7.63 % at the auction on Oct. 10	The $ 7.81 billion of six-month Treasury bills were sold with an average discount rate of 7.50 % , the highest since the average of 7.60 % at the Oct. 10 auction
+5	Thus , higher bidding narrows the investor 's return while lower bidding widens it	The percentage rates are calculated on a 360-day year , while the coupon-equivalent yield is based on a 365-day year
+5	Both issues are dated Oct. 26	The 13-week bills mature Jan. 25 , 1990 , and the 26-week bills mature April 26 , 1990
+2	the issue was oversubscribed	It 's a segmented market , and if you have a good , strong credit , people have an appetite for it
+5	It 's a segmented market , and if you have a good , strong credit , people have an appetite for it	Morgan Stanley is expected to price another junk bond deal , $ 350 million of senior subordinated debentures by Continental Cablevision Inc. , next Tuesday
+9	In the case of Beatrice , Salomon Brothers Inc. is considering restructuring the reset mechanism on the $ 200 million portion of the offering	Under the originally contemplated terms of the offering , the notes would have been reset annually at a fixed spread above Treasurys
+1	Under the originally contemplated terms of the offering , the notes would have been reset annually at a fixed spread above Treasurys	Under the new plan being considered , the notes would reset annually at a rate to maintain a market value of 101
+5	Under the new plan being considered , the notes would reset annually at a rate to maintain a market value of 101	Price talk calls for the reset notes to be priced at a yield of between 13 1/4 % and 13 1/2 %
+2	Part of the reason for the heavy activity in derivative markets is that underwriters are repackaging mortgage securities being sold by thrifts	thrifts have stepped up their mortgage securities sales as the bond market has risen in the past two weeks
+5	Government National Mortgage Association 9 % securities for November delivery were quoted late yesterday at 98 10/32 , up 10/32 ; and Freddie Mac 9 % securities were at 97 1/2 , up 1/4	The Ginnie Mae 9 % issue was yielding 8.36 % to a 12-year average life assumption , as the spread above the Treasury 10-year note widened slightly to 1.46 percentage points
+2	A $ 137.6 million Maryland Stadium Authority sports facilities lease revenue bond issue appeared to be off to a good start	The issue was oversubscribed and `` doing very well , '' according to an official with lead underwriter Morgan Stanley
+2	The turnaround in the dollar fueled bearish sentiment about Japan 's bond market	The benchmark No . 111 4.6 % bond due 1998 ended on brokers ' screens at a price of 95.39 , off 0.28
+5	The benchmark No . 111 4.6 % bond due 1998 ended on brokers ' screens at a price of 95.39 , off 0.28	The yield rose to 5.38 %
+8	West German bond prices ended lower after a day of aimless trading	The benchmark 7 % bond due October 1999 fell 0.20 point to 99.80 to yield 7.03 % , while the 6 3/4 % notes due July 1994 fell 0.10 to 97.65 to yield 7.34 %
+8	British government bonds ended slightly higher in quiet trading as investors looked ahead to today 's British trade report	The benchmark 11 3/4 % Treasury bond due 2003/2007 rose 1/8 to 111 21/32 to yield 10.11 % , while the 12 % issue of 1995 rose 3/32 to 103 23/32 to yield 11.01 %
+9	My language sure goes to pot down here on the coast	The husky blond guide with the Aggie cap twists his face in mock fury
+1	He has two more years at Texas A & M	Right now he takes people out to fish in the bays behind the barrier islands that curve for hundreds of miles along the eastern coast of Texas
+1	The little radio fizzes as other boats want to see if we have found any fish -- spotting location is everything in this sport	Negative answers crackle back
+2	The fish often are plentiful around the pilings of the old gas wells that dot the flat surface like the remains of sunken ships	We go from one to the other
+5	The sun is hot now though it 's only 8 in the morning	The great silver clouds on the horizon build themselves on the pale water
+9	We cruise toward another set of pilings	The guide scoops into a pail and puts a frantically wiggling croaker on the hook
+5	It comes real gentle before it pulls	Do n't forget , trout have very soft mouths
+9	Pickin ' one or two , '' says the guide , chuckling . `` You can tell they 've got nothin '	A pair of black skimmers zig-zag past close to the surface
+8	This must be the last big stretch of the American seacoast that is `` undeveloped	There are a few ramshackle fishing towns with quiet atolls of resort houses nearby
+5	There are a few ramshackle fishing towns with quiet atolls of resort houses nearby	People are not apt to be self-conscious about the place or themselves
+8	People are not apt to be self-conscious about the place or themselves	Texas is big and beautiful and they live here , that 's all
+2	Last year a gunner shot a whooper by mistake thinking that it was a snow goose	He paid an immense fine and was lucky , according to a local wag , to escape the gas chamber
+7	The peninsula comes off the vast southeastern alluvial plain with fields of rice and cotton and sorghum as far as the eye can see	Near the coast there are dense coverts of live oak interspersed with marshes and prairies
+7	The peninsula comes off the vast southeastern alluvial plain with fields of rice and cotton and sorghum as far as the eye can see.Near the coast there are dense coverts of live oak interspersed with marshes and prairies	Deer , wild hog , armadillos and alligators are the glamour quadrupeds and the birds are innumerable , especially the herons and the spoonbills
+7	The peninsula comes off the vast southeastern alluvial plain with fields of rice and cotton and sorghum as far as the eye can see.Near the coast there are dense coverts of live oak interspersed with marshes and prairies.Deer , wild hog , armadillos and alligators are the glamour quadrupeds and the birds are innumerable , especially the herons and the spoonbills	Above the blossoms of lantana and scarlet pea the inky-brown and golden palamedes butterfly floats on its lazy wingbeat
+1	Tivoli Motel , '' I read a sign in the usual pronunciation of the name as we whoosh through	Here in south Texas we say Tie-vole-ee , '' my host gently corrects
+5	The two West German electronics concerns said they have set up European Power Semiconductor Co. to merge their activities in the field	AEG and Siemens each will hold a 50 % stake in the venture
+5	The joint venture will have nominal capital of 50 million marks ( $ 26.9 million ) and 700 employees	It will develop , produce and market high-performance electronic parts
+5	Siemens is West Germany 's largest electronics group	AEG is 80 % owned by Daimler-Benz AG , the country 's biggest industrial concern
+5	its third-quarter net income fell 27 % to $ 29.6 million , or 72 cents a share , from $ 40.7 million , or $ 1 a share , a year earlier	Sales dropped 4 % to $ 1.12 billion from $ 1.17 billion
+8	about half the earnings drop came from the `` virtual collapse '' of the Venezuelan auto industry	The Venezuelan currency plummeted this year , making it difficult for auto makers there to afford imported parts
+5	it expected reduced third-quarter profit	automotive suppliers were reporting lower profit almost `` across the board
+5	At age 19 , she was a Paris sensation , transformed from unwanted child to international sex symbol in just over a decade	It is the stuff of dreams , but also of traumas
+8	but courage of a rare sort made her remarkable life possible	I 've ever known anyone with a less complicated view of life , or whose life was more complicated than Josephine 's
+5	Men were a constant complication	Baker had lots of them
+6	But she did n't trust them and did n't reward trust	As she saw one key love affair , the problem was n't her infidelity , it was his jealousy
+2	Her appetite for children also was large	She adopted 12 of assorted races
+2	She made money , but spent more	Friends pitched in
+1	Another lifelong complication was racism	Baker had the good luck to arrive in 1925 Paris , where blacks had become exotic
+6	where blacks had become exotic	African art was in vogue and some intellectuals were writing breathlessly of a dawning age to be inspired by blacks
+2	African art was in vogue and some intellectuals were writing breathlessly of a dawning age to be inspired by blacks	To be exotic was to be patronized as well as prized , but for the most part Paris was a friendly island in a racist world
+8	Paris loved her at first sight	She just wiggled her fanny and all the French fell in love with her
+5	She just wiggled her fanny and all the French fell in love with her	One can hardly overemphasize the importance of her rear end
+9	One can hardly overemphasize the importance of her rear end , '' Ms. Rose writes	Ms. Rose quickly proceeds to overemphasize , claiming that Baker 's dancing `` had uncovered a new region for desire '' and thereby ignoring centuries of tributes to the callipygous
+2	Still , even the title raises questions about the author 's vision of her subject	Baker 's art was jazz only by the widest stretch of the term
+5	Baker 's art was jazz only by the widest stretch of the term	To find parallels , other than sexual appeal , with Cleopatra , requires an equal stretch
+5	During World War II , her uncomplicated view of life led her to the conclusion that the Nazis were evil and must be resisted , a decision made by only about 2 % of French citizens	She was devoted to Charles de Gaulle 's cause , accepting great financial sacrifice and considerable risk to become first a spy and then a one-woman USO tour for the forces of Free France
+5	In Humphrey Bogart 's nightclub , Victor Laszlo leads Free French sympathizers in `` La Marseillaise '' to drown out the Nazis	The night the Germans occupied all of France , Baker performed in Casablanca
+5	but as `` Jazz Cleopatra '' goes on , it seems more rushed , as though the author were growing less interested	It does n't help that sometimes Ms. Rose 's language fails to deliver the effect she appears to want
+6	It does n't help that sometimes Ms. Rose 's language fails to deliver the effect she appears to want	One chapter opens : `` World War II was not one of France 's glorious moments
+8	But Manville 's ownership is unusual	The Denver-based concern is controlled by the Manville Personal Injury Settlement Trust
+2	Their principal asset is Manville common stock	If they tried to sell , they 'd be chasing their own tail
+4	If they tried to sell , they 'd be chasing their own tail	What makes the most sense is to find someone who wants to buy the whole company or cause a recapitalization of all shares
+5	However , the trust 's cash flow from investments is far short of its payments to asbestos victims	Its cash and liquid securities fell by $ 338 million in the first six months of 1989
+1	And , beginning in 1992 , it will have a claim on as much as 20 % of Manville 's annual net income	Even so , the trust would seem to be facing a cash crunch
+2	Even so , the trust would seem to be facing a cash crunch	As of June 30 , it had settled only about 15,000 of the 81,000 received claims from asbestos victims , for an average of $ 40,424 each
+1	As of June 30 , it had settled only about 15,000 of the 81,000 received claims from asbestos victims , for an average of $ 40,424 each	The average should drop over time , since the most expensive claims are being settled first
+2	And as of midyear , settled but unpaid claims amounted to $ 136 million -- more than half the trust 's total of $ 268 million in cash and marketable securities	At some point , we 're going to need an infusion of funds
+2	Even before then , the trust may be eager to unload Manville stock	It does n't pay a dividend , and this trust needs income
+2	Moreover , with 88 % of its assets tied up in Manville , the trust is badly in need of diversification	Obviously , a diversified portfolio would have less risk
+8	Manville itself does n't rule out a restructuring	Though the ink is barely dry on its new , post-bankruptcy law structure , Bill Bullock , Manville 's head of investor relations , says the company is continually pondering `` whether there is a better way to be structured
+2	whether there is a better way to be structured	that the trust is ultimately going to need to sell some of our shares
+8	Thus the trust is unlikely to do anything that would hurt Manville 's other shareholders	This is a rare case of a company with a big majority holder which will probably act in the interests of the minority holders
+1	Even if there is no restructuring , Manville seems to be attractive long-term	Its stock , at 9 5/8 , trades at about 8 1/2 times estimated 1989 earnings -- an appropriately low multiple for a company with recession-sensitive customers
+5	Its stock , at 9 5/8 , trades at about 8 1/2 times estimated 1989 earnings -- an appropriately low multiple for a company with recession-sensitive customers	45 % of revenues are tied to construction
+5	Its stock , at 9 5/8 , trades at about 8 1/2 times estimated 1989 earnings -- an appropriately low multiple for a company with recession-sensitive customers.Mr . Bullock says 45 % of revenues are tied to construction	Analysts predict little or no near-term growth
+6	They are , nonetheless , high on Manville 's management	It 's one of the best in the business , '' says Salomon Brothers analyst Stephen Dobi
+8	So far , as a price-conscious shopper , Manville has n't bought much	Even though they have borrowing power , they have been disciplined about acquisitions
+5	The FTC 's request was `` not unusual '' and Emerson will make a `` full and prompt '' response , according to a spokesman	they do n't anticipate `` any problems '' with the completion of the transaction
+2	St. Louis-based Emerson and Stuttgart-based Bosch make electrical and electronic products , including power tools	The Vermont American acquisition is designed to enhance their position in the accessories portion of the power-tool industry
+5	If approved , the sale is expected to close by year 's end , with the spinoff occurring by the end of 1992	In composite trading on the New York Stock Exchange yesterday , Santa Fe Pacific closed at $ 20.625 , down 25 cents
+5	Itel bought a 17 % stake in Sante Fe Pacific last year and Olympia & York later purchased about a 20 % stake	they would have interests in the new realty company in line with their holdings in Sante Fe Pacific
+2	what could lead to the breakup of Santa Fe Pacific into free-standing companies for its railroad and energy operations , as well as real estate	The debt-laden parent has been under pressure from large shareholders to boost the company 's share price
+2	The California pension fund 's planned investment in the real estate unit is unusual	Pension funds rarely own as much as a 20 % stake in what is expected to be a publicly traded company
+5	that would be convertible into additional shares of the realty company after the second year at the then-prevailing market price	The note would accrue interest at the rate of 13.5 % a year , which would be payable to the fund after five years , according to Stephen E. Roulac , a real estate consultant working for the fund
+8	hurting profits that the parent had generated in the past from periodic sales from its portfolio	Real estate operating income for the first nine months fell to $ 71.9 million from $ 143 million a year earlier
+1	The realty unit might take on new debt or obtain additional investors , among other possibilities	The Santa Fe Pacific spokesman declined to comment on that aspect , saying the deal was still under negotiation
+8	but under a previously announced strategy , the company has targeted building on 5,400 acres in California , Arizona and the Chicago area	Among those are the 1,850 acres in the San Francisco Bay area , including 208 acres in the Mission Bay area
+2	The California pension fund , which has $ 16 billion already invested in real estate and mortgages , could be a valuable funding source for that development	The fund is the nation 's largest public employee fund , and it has a growing cash flow now topping $ 3 billion a year
+5	but they were approached with the idea by real estate brokers JMB Realty Corp. of Chicago	JMB officials are expected to be hired to represent the pension fund on the Santa Fe Pacific Realty board , Mr. Roulac said , to insulate the fund from potential liability problems
+9	After two mistrials , the stakes in the stock manipulation trial of GAF Corp. and its vice chairman , James T. Sherwin , have changed considerably	The first two GAF trials were watched closely on Wall Street because they were considered to be important tests of the government 's ability to convince a jury of allegations stemming from its insider-trading investigations
+5	The GAF trials were viewed as previews of the government 's strength in its cases against Mr. Lewis and Mr. Bilzerian	Mr. Jefferies 's performance as a witness was expected to affect his sentencing
+2	But GAF 's bellwether role was short-lived	The first GAF trial ended in a mistrial after four weeks when U.S. District Judge Mary Johnson Lowe found that a prosecutor improperly , but unintentionally , withheld a document
+5	The first GAF trial ended in a mistrial after four weeks when U.S. District Judge Mary Johnson Lowe found that a prosecutor improperly , but unintentionally , withheld a document	After 93 hours of deliberation , the jurors in the second trial said they were hopelessly deadlocked , and another mistrial was declared on March 22
+9	Meanwhile , a federal jury found Mr. Bilzerian guilty on securities fraud and other charges in June	A month later , Mr. Jefferies was spared a jail term by a federal judge who praised him for helping the government
+9	A month later , Mr. Jefferies was spared a jail term by a federal judge who praised him for helping the government	In August , Mr. Lewis pleaded guilty to three felony counts
+2	Nevertheless , the stakes are still high for the players directly involved in the GAF case	The mistrials have left the reputations of GAF , Mr. Sherwin and GAF Chairman Samuel Heyman in limbo
+8	The mistrials have left the reputations of GAF , Mr. Sherwin and GAF Chairman Samuel Heyman in limbo	For Mr. Sherwin , a conviction could carry penalties of five years in prison and a $ 250,000 fine on each count
+5	For Mr. Sherwin , a conviction could carry penalties of five years in prison and a $ 250,000 fine on each count	GAF faces potential fines of $ 500,000 for each count
+0	that the strategy of GAF 's attorney , Arthur Liman , and Mr. Sherwin 's counsel , Stephen Kaufman , will include testimony by Mr. Sherwin or Mr. Heyman	Neither testified at the previous trials
+6	For now , defense attorneys are tight-lipped about their plans	As we go in for the third time , Yogi Berra 's famous line is apt : ` It 's deja vu all over again
+8	The dispute pits two groups of claimants against each other	Baltimore attorney Michael A. Pretl and 17 other attorneys representing 18,136 claimants in the U.S. and abroad argue that the appeal would delay -- and perhaps even destroy -- a $ 2.38 billion settlement fund that is the centerpiece of the reorganization plan . The bankruptcy-court reorganization is being challenged before the Supreme Court by a dissident group of claimants because it places a cap on the total amount of money available to settle claims
+1	It also bars future suits against Robins company officials , members of the Robins family and Robins 's former insurer , Aetna Life & Casualty Co	The latter provision is `` legally unprecedented
+5	Robins has been in proceedings under Chapter 11 of the U.S. Bankruptcy Code since August 1985 ; such proceedings give it protection from creditor lawsuits while it works out a plan for paying its debts	American Home Products Corp. wants to acquire Robins , but only if all legal challenges to the plan are exhausted
+5	But Superfund also contains a criminal provision concerning the release of toxic substances into the environment	In 1986 Congress strengthened the penalty by making it a felony
+2	because `` no cleanup is possible here	Once { asbestos } is released into the environment , it can lodge anywhere
+1	Another murderer on death row has appealed Mr. Simmons 's death sentence in a `` next friend '' capacity	Wilmer Cutler 's brief argues that there is no mandatory appellate review of capital sentences and that the inmate who filed the appeal lacks proper standing
+8	to charges of fraud in connection with the sale of fake Salvador Dali lithographs	James Burke and Larry Evans , formerly owners of the now-defunct Barclay Gallery , and Prudence Clark , a Barclay sales representative , were charged with conducting high-pressure telephone sales in which they misrepresented cheap copies of Dali artwork as signed , limited-edition lithographs
+2	in which they misrepresented cheap copies of Dali artwork as signed , limited-edition lithographs	The posters were sold for $ 1,300 to $ 6,000 , although the government says they had a value of only $ 53 to $ 200 apiece
+5	The posters were sold for $ 1,300 to $ 6,000 , although the government says they had a value of only $ 53 to $ 200 apiece	about 1,000 customers were defrauded and that Barclay 's total proceeds from the sales were $ 3.4 million
+1	Henry Pitman , the assistant U.S. attorney handling the case , said about 1,000 customers were defrauded	Attorneys for Messrs.Burke and Evans and Ms. Clarke said that although their clients admitted to making some misrepresentations in the sales , they had believed that the works were authorized by Mr. Dali , who died in January
+8	that although their clients admitted to making some misrepresentations in the sales , they had believed that the works were authorized by Mr. Dali , who died in January	The posters were printed on paper pre-signed by Mr. Dali
+1	Westamerica said Mr. Decker 's posts were assumed by David Payne , Westamerica 's chairman , who at 34 years of age becomes one of the youngest chief executives of a sizable bank in the country	Mr. Decker is about 45 years old
+8	Westamerica has about $ 1.3 billion of assets and is the largest independent bank in northern California	It controls about 35 % of the affluent Marin County market across the Golden Gate bridge from San Francisco
+10	He was brought to the company in September 1988 after 15 years at Los Angeles-based First Interstate Bancorp	The bank had been suffering in late 1987 from a slew of bad real estate loans made in Arizona
+6	Though the bank is n't performing as well as some of its competitors in the lucrative California market , its condition has improved since Mr. Decker took over	For the six months ended June 30 , it earned $ 3.1 million , or 61 cents a share , compared with net income of $ 2.4 million , or 41 cents a share , a year earlier
+5	For the full fiscal year , Varian posted a 13 % profit rise to $ 31.5 million , or $ 1.53 a share , up from $ 27.8 million , or $ 1.27 a share , last year	Sales for the year rose almost 15 % to $ 1.34 billion from $ 1.17 billion last year
+1	The financial-services firm , struggling since summer to avoid a bankruptcy-law filing after missing interest payments on about $ 1 billion of debt , will retain the right to regain the subsidiary	it will exercise that right only if it sells substantially all of its other core businesses
+9	Also , the broker-dealer subsidiary , Integrated Resources Equity Corp. , was renamed Royal Alliance Associates Inc	Because of Integrated 's widely reported troubles , the unit 's representatives had been requesting a name change
+5	In an interview , Mr. Krat said that based on criteria yet to be determined , he expects to distribute 49 % of Royal Alliance to the representatives , who sell Integrated 's insurance and mutual-fund products	If Integrated regains Royal Alliance , the representatives will retain their 49 % ownership
+1	The subsidiary is n't expected to be profitable for at least one year	If Integrated regains the unit , it would receive any profit the unit reports , even while the unit is independent
+5	If Integrated regains the unit , it would receive any profit the unit reports , even while the unit is independent	If the deal closes , the two officers will draw salaries from the independent operation , not from Integrated
+9	Integrated made its announcement after the market closed	In New York Stock Exchange Composite trading , Integrated shares closed at $ 1.125 , up 12.5 cents
+7	In late New York trading yesterday , the dollar was quoted at 1.8470 marks , down from 1.8578 marks late Friday , and at 141.90 yen , down from 142.43 yen late Friday	Sterling was quoted at $ 1.6030 , up from $ 1.5885 late Friday
+5	the U.S. unit to rally sharply on the news , if it turns out as expected	that the report may overstate the economy 's health and predict the third-quarter figures may be the last vigorous statistics for some time to come
+2	Everyone is extremely convinced the economy is slowing	If we 're not headed for a recession , we 're certainly headed for a major slowdown
+5	On the Commodity Exchange in New York , gold for current delivery settled at $ 367 an ounce , down 30 cents	Estimated volume was a very light one million ounces
+5	that its net income in the latest quarter increased to $ 51.1 million , or 58 cents a share , from $ 31.7 million , or 36 cents a share , a year earlier	Sales in the quarter gained 29 % to $ 410.4 million from $ 317.7 million a year earlier
+5	For the nine months , net income rose 48 % to $ 124.2 million , or $ 1.41 a share , from $ 83.8 million , or 96 cents a share a year earlier	Sales gained 16 % to $ 1.03 billion from $ 894 million
+10	For the nine months , net income rose 48 % to $ 124.2 million , or $ 1.41 a share , from $ 83.8 million , or 96 cents a share a year earlier	Sales gained 16 % to $ 1.03 billion from $ 894 million
+5	In Tokyo , the Nikkei index added 99.14 to 35585.52	The index moved above 35670 at midmorning , nearly reaching the record of 35689.98 set Sept. 28
+8	Turnover remained relatively small	Volume on the first section was estimated at 600 million shares , down from 1.03 billion shares Friday
+2	investors were picking individual stocks based on specific incentives and the likelihood of a wider price increase over the short term	The selective approach blurred themes such as domestic-demand issues , large-capitalization issues or high-technology shares , which had been providing at least some trading direction over the past few weeks
+5	The selective approach blurred themes such as domestic-demand issues , large-capitalization issues or high-technology shares , which had been providing at least some trading direction over the past few weeks	Investors took profits on major construction shares , which advanced last week , shifting their attention to some midsize companies such as Aoki Corp. , Tobishima and Maeda
+2	Investors took profits on major construction shares , which advanced last week , shifting their attention to some midsize companies such as Aoki Corp. , Tobishima and Maeda	Aoki gained 60 yen to 1,480 yen ( $ 10.40 )
+7	Teijin was up 15 at 936 , and Kyowa Hakko gained 30 to 1,770	Mochida advanced 40 to 4,440
+7	Teijin was up 15 at 936 , and Kyowa Hakko gained 30 to 1,770.Mochida advanced 40 to 4,440	Fujisawa continued to attract investors because of strong earning prospects stemming from a new immune control agent.Fujisawa gained 50 to 2,060
+2	Fujisawa continued to attract investors because of strong earning prospects stemming from a new immune control agent	Fujisawa gained 50 to 2,060
+2	It 's a case of the market being too high to buy and too afraid to sell	It 's better to wait
+5	The Financial Times 100-share index finished 10.6 points higher at 2189.7	The 30-share index closed 11.6 points higher at 1772.6
+5	Share prices on the Frankfurt stock exchange closed narrowly mixed in quiet dealings after recovering most of their early losses	The DAX index eased 0.99 point to end at 1523.22 after falling 5.5 points early in the session
+5	the declines early in the day were partly caused by losses of the ruling Christian-Democratic Union in communal elections in the state of Baden-Wuerttemberg	The start of a weeklong conference by the IG Metall metal worker union in Berlin is drawing attention to the impending wage negotiations , which could boost companies ' personnel costs next year
+5	the thin trading volume points to continued uncertainty by most investors following last Monday 's record 13 % loss	The market is still 4 % short of its level before the plunge , and analysts are n't sure how long it will take until the DAX has closed that gap
+7	as Deutsche Bank and Dresdner Bank added 4 marks each to 664 marks ( $ 357 ) and 326 marks , respectively	Commerzbank gained 1 to 252.5
+5	Shares closed higher in Hong Kong , Singapore and Manila , and were lower in Sydney , Seoul and Taipei	Wellington was closed
+2	These rate indications are n't directly comparable	lending practices vary widely by location
+5	The loss compares with net income of $ 162.1 million , or $ 2.01 a share , in the year-earlier period	Interest income rose 29 % to about $ 1.35 billion from $ 1.05 billion
+5	Interest income rose 29 % to about $ 1.35 billion from $ 1.05 billion	The New York bank holding company 's assets at Sept. 30 climbed to $ 59.4 billion from $ 57.9 billion
+5	Excluding the increase in loan-loss reserves , Bankers Trust said third-quarter net income would have increased 11 % to $ 180 million	A number of major banks have posted big losses after sharply increasing loan-loss reserves
+5	The per-share loss for the Paramus , N.J. , food-services concern totaled seven cents , compared with earnings of 51 cents a share a year earlier	Revenue rose 5 % to $ 981.7 million from $ 934.7 million
+5	Nine-month net income dropped 47 % to $ 26.3 million , or 54 cents a share , from $ 49.7 million , or $ 1.02 a share	Revenue rose 6 % to $ 2.79 billion from $ 2.63 billion
+2	In the year-earlier period , the maker of diesel engines and parts had a narrower deficit of $ 17.6 million , or $ 1.84 a share , with sales of $ 808.3 million	shipments of truck engines , which provide a higher margin than most of the company 's other products , declined 16 % from a year earlier
+1	Although Cummins 's stock stumbled last month after the company projected a `` substantial '' third-period loss , the stock also fell $ 1.125 in composite New York Stock Exchange trading yesterday , to $ 51.75	It traded as high as $ 64 a month ago , before the loss projection
+1	For the nine months , the latest loss trimmed net income to $ 3.6 million , which after payment of preferred dividends represented a 31-cent loss a common share	The year-before loss was $ 8.4 million , or $ 1.36 a common share
+1	Neither suit lists specific dollar claims , largely because damage assessment has n't yet been completed	that damage claims against the oil giant and others could well exceed $ 1 billion
+5	that damage claims against the oil giant and others could well exceed $ 1 billion	Litigation , if not settled out of court , could drag on for years
+8	that it will seek reimbursement from the state for that part of the cleanup costs and damage claims it says resulted from the state 's conduct	The oil company claims that Alaskan officials prevented Exxon from spraying dispersant onto the almost 11 million gallons of oil dumped when one of its tankers ran into an underwater reef
+5	that Exxon 's accusations `` are not new	Exxon has made them before , at which point the state demonstrated they were untrue
+1	The oil company claims that it had permission from the U.S. Environmental Protection Agency prior to the spill to use dispersant during such an incident at the discretion of the U.S. Coast Guard	The state 's opposition to the use of dispersants caused the Coast Guard `` to delay granting permission
+1	Exxon 's charges are n't relevant because tests conducted during the first two days following the spill showed that the dispersant was n't working anyway	Use of dispersants was approved when a test on the third day showed some positive results
+2	I have no regrets about going forward	We are the Golden State and there is a certain amount of jealousy
+5	But in private meetings yesterday , Budget Director Richard Darman argued that only $ 1.5 billion in new federal appropriations are needed to supplement existing resources	A White House budget office analysis estimates that $ 500 million -- or half the level in the committee bill -- is needed for highway assistance to meet California 's needs , and the administration rejects the notion that new appropriations are needed to finance disaster loans by the Small Business Administration
+2	Everybody appreciates that it is a national disaster and that we 've got to address it	I would hope very much that we would n't end up in a kind of situation where you have a bidding war and then a veto threat
+2	no single influence was greater than Mr. Whitten	A master of pork-barrel politics , he had crafted the $ 2.85 billion package in vintage style and used the full force of his chairmanship to keep the proposal intact and dismiss any alternative
+9	When Mr. Fazio offered the California-backed $ 3.84 billion plan , Mr. Whitten insisted that the full 14 pages be read aloud by the panel 's clerk to underscore the range of legislative changes also sought by the delegation	On the chairman 's motion , the California package was subsequently reduced to less-binding report language
+1	More important than money in many cases are waivers California is seeking on current restrictions covering federal highway funds , such as a $ 100 million cap on how much any single state can receive in emergency funds in a year	Mr. Whitten 's package appears to accomplish this purpose , but the state faces more resistance in its bid for an extended waiver on having to put up any matching funds on repairs completed in the next six months
+2	A member in the House leadership and skilled legislator , Mr. Fazio nonetheless found himself burdened not only by California 's needs but by Hurricane Hugo amendments he accepted in a vain effort to build support in the panel	The California Democrat appeared embarrassed by provisions inserted on behalf of owners of private beaches in the Virgin Islands , and lumber interests sought to add another $ 100 million in federal aid to plant timber on private land in North and South Carolina
+6	California 's high-priced real estate puts it in an awkward position , too	One provision last night would have raised the cap on disaster loans to $ 500,000 from $ 100,000 per household to accommodate San Francisco losses
+5	In the year 's first six months , Kurzweil had a loss of $ 6.9 million on sales of $ 11.2 million	Last month its president , John S. Donnelly , resigned citing `` management differences '' with Mr. Kurzweil
+5	profit for the year ended Sept. 30 rose to more than $ 800,000 from $ 446,000 last year	Per-share earnings are estimated at more than 40 cents , up from 22 cents for fiscal 1988
+5	that the radar station in Krasnoyarsk breached the superpower Anti-Ballistic Missile treaty and said it would be dismantled	it took Gorbachev 's government four years to determine that the station 's location in Siberia violated the accord , as Western arms-control officials have long contended
+8	Hungary declared itself a democracy and for the first time openly commemorated the anniversary of the 1956 anti-Stalinist uprising that was crushed by the Soviet Union	A crowd estimated at 100,000 held a torch-lit march through Budapest as Acting President Szuros delivered a nationally televised address rejecting communist dominance
+5	The space shuttle Atlantis landed at a desert air strip at Edwards Air Force Base , Calif. , ending a five-day mission that dispatched the Jupiter-bound Galileo space probe	The five astronauts returned to Earth about three hours early because high winds had been predicted at the landing site
+4	The five astronauts returned to Earth about three hours early because high winds had been predicted at the landing site	Fog shrouded the base before touchdown
+2	Explosions shook a Phillips Petroleum Co. plastics plant near Pasadena , Texas , hurling debris and causing a fire visible from 10 miles away	More than 100 people were injured , and a number of workers were missing
+5	More than 100 people were injured , and a number of workers were missing	Parts of the Houston Ship Channel were closed
+2	Bush is conferring with leaders of the Senate Intelligence Committee to ease differences over guidelines for CIA agents	that a strict interpretation of a policy requires the U.S. to notify foreign dictators of certain coup plots
+2	NATO defense ministers are expected to call for a reduction in nuclear forces in Europe when the alliance 's nuclear planning group convenes a two-day session today in Portugal	The ministers are to reshape NATO 's defenses in Western Europe amid fast-paced changes in the Soviet bloc
+1	Iran 's President Rafsanjani offered to help gain freedom for Western hostages in Lebanon , but said the assistance was contingent on U.S. aid in resolving the cases of three Iranians kidnapped in Lebanon in 1982 or the release of frozen Iranian assets	Washington rejected the bid , saying the hostages were n't linked to other issues
+5	PLO leader Arafat asked Egypt to seek clarifications from the U.S. on Secretary of State Baker 's plan for Mideast peace talks , an aide to Egyptian President Mubarak said	The official stressed that the PLO has n't rejected the five-point formula
+1	A year earlier , CMS posted profit of $ 1.1 million , or 13 cents a share , on sales of $ 48 million	This time , there are 30 % more shares outstanding
+4	it dropped its plan to liquidate because it was n't able to realize the value it had expected	it will buy back two million shares , or 18.4 % , of the total outstanding , and continue operations buying and managing real estate
+1	Property Capital had told shareholders it expected to distribute at least $ 21 a share , or $ 229 million , in a liquidation , based on an expected asset sale price of $ 290 million or more	it did n't receive an offer it wanted to accept
+8	Included in the results was an adjustment to the Dallas-based company 's tax rate that reduced net income by about 10 cents a share , or approximately $ 2 million	it increased its effective tax rate to 52 % from 47 % to account for potential liabilities related to an Internal Revenue Service investigation of its tax returns for the years 1984 through 1988
+5	For the nine months , the company had net income of $ 15.1 million , or 74 cents a share , up 98 % from $ 7.6 million , or 38 cents a share last year	Revenue grew almost 8 % to $ 301.9 million from $ 279.8 million last year
+1	The California Student Aid Commission took the action Oct. 15 after a government audit cited National Technical Schools for having courses too short to be eligible for the educational loan program and having a student drop-out rate far in excess of federal standards , and it alleged other serious violations of law and regulations	United Education & Software , a Los Angeles education services company , called the commission 's action `` precipitous and unwarranted
+5	The court set a hearing on the emergency action for Oct. 30	United Education & Software posted a $ 250,000 bond against potential losses to the student aid commission and to taxpayers in guaranteeing any more loans for National Technical Schools students prior to the hearing
+5	that net rose 1.7 % to $ 121 million , or 81 cents a share , from $ 119 million , or 80 cents a share , the year earlier	Sales slipped 1.3 % to $ 2.82 billion from $ 2.86 billion
+1	For the nine months , the Morris Township , N.J.-based company , with businesses in aerospace , automotive products and engineered materials , earned $ 413 million , or $ 2.77 cents a share , up 15 % from $ 359 million , or $ 2.40 a share	Sales eased 0.2 % to $ 8.88 billion from $ 8.90 billion
+2	unfavorable foreign-exchange rates and a lower tax rate	Earnings for the group declined to $ 11 million from $ 33 million last year
+1	it expects to report net income between $ 6.4 million and $ 6.9 million , or between 32 cents and 34 cents a share , for its fourth quarter ended Sept. 30	In the year-ago quarter , the software developer reported pro forma earnings of $ 4.8 million , or 24 cents a share
+5	it anticipates reporting earnings of $ 23 million , or about $ 1.15 a share , including a charge of about $ 5.9 million , or 22 cents a share , related to the merger that created Legent out of Duquesne Systems Inc. and Morino Inc. in March 1989	Revenue for fiscal 1989 is expected to exceed $ 124 million
+5	Of the 17.6 million rights units issued , just under 17 million were exercised before the Oct. 10 expiration of the offering	Remaining units will be sold to the underwriters , Drexel Burnham Lambert Inc. and Kidder , Peabody & Co. , which will also purchase an over-allotment of 2.3 million additional units
+8	Stock prices fell and bonds rose as worries mounted about the economy and the junk bond market	The Dow Jones industrials sank 26.23 points , to 2662.91
+5	The Dow Jones industrials sank 26.23 points , to 2662.91	The dollar also declined
+5	The turmoil in junk bonds may last for years	Even Drexel is pulling back
+5	Exxon 's profit fell 9 % in the third quarter , hurt by sagging results at two of its three main businesses	Phillips and Arco posted declines
+5	Phillips and Arco posted declines	Ashland had a loss
+1	Ashland had a loss	Amerada Hess and Occidental Petroleum had gains
+5	Drexel 's efforts to settle its legal troubles are being resisted by at least 10 states	Some may try to revoke the firm 's license to sell securities
+8	The department distributed the revisions and clarifications to U.S. attorneys around the country this summer as part of a routine process of updating prosecutorial guidelines	The changes apply to prosecutions brought under the Racketeer Influenced and Corrupt Organizations law
+2	The RICO law has come under criticism from some defendants and defense lawyers	that the rights of RICO defendants and third parties not named in RICO indictments have been unfairly damaged
+4	that if the offense deals with one part of the business , you do n't attempt to seize the whole business	you attempt to seize assets related to the crime
+8	But instead of thanks , Sen. Cranston was treated with cool formality	Every witness receives a formal subpoena , '' Rep. Gonzalez told him
+2	the agency is investigating whether Lincoln made illegal political contributions	Mr. Keating arranged nearly $ 1 million in donations to Sen. Cranston and his various political causes , and hundreds of thousands more to other lawmakers
+8	he considers intervening with regulators to be improper	When you reach a point where a policy-making body is trying to shape administrative decisions , then that 's a no-no in my book
+8	And he has attached himself to the Lincoln story tenaciously	Unless the questions are answered , I will keep on going
+5	But Chairman Gonzalez is a genuine maverick	He comes from the same political line as Wright Patman , a bank-baiting Texas populist who chaired the Banking Committee until 1974
+6	Mr. Gonzalez is also a stickler for ethical standards who refuses to accept honorariums and who believes in conducting official business in the open	Early in his political career , as a city councilman in San Antonio , he walked out of a meeting when political supporters asked that the police chief be replaced , denouncing the closed-door affair publicly as a `` bat-roost meeting
+2	The immediate target of Rep. Gonzalez 's inquiry is Danny Wall , chairman of the Office of Thrift Supervision	As the principal regulator of the thrift industry , Mr. Wall delayed seizing Lincoln S & L for more than two years after his staff told him that the California thrift was insolvent and that potential losses to taxpayers were growing rapidly
+8	The immediate target of Rep. Gonzalez 's inquiry is Danny Wall , chairman of the Office of Thrift Supervision	As the principal regulator of the thrift industry , Mr. Wall delayed seizing Lincoln S & L for more than two years after his staff told him that the California thrift was insolvent and that potential losses to taxpayers were growing rapidly
+8	Mr. Gonzalez expressed concern over a report that the two had been summoned to Washington by Mr. Wall last week to discuss their testimony in advance	I think he is trying to improperly influence a witness , and by God I 'm not going to tolerate it , '' he says
+5	Mr. Wall , however , is a self-proclaimed `` child of the Senate '' and former staff director of its Banking Committee	An inquiry into his handling of Lincoln S & L inevitably will drag in Sen. Cranston and the four others , Sens.Dennis DeConcini ( D. , Ariz. ) , John McCain ( R. , Ariz. ) , John Glenn ( D. , Ohio ) and Donald Riegle ( D. , Mich . )
+2	An inquiry into his handling of Lincoln S & L inevitably will drag in Sen. Cranston and the four others , Sens.Dennis DeConcini ( D. , Ariz. ) , John McCain ( R. , Ariz. ) , John Glenn ( D. , Ohio ) and Donald Riegle ( D. , Mich	They all attended a meeting in April 1987 questioning why a federal audit of Lincoln S & L had dragged on for two years
+2	They all attended a meeting in April 1987 questioning why a federal audit of Lincoln S & L had dragged on for two years	I 'm certain that in the course of the hearings the names { of the senators } will be brought out
+6	This is raising eyebrows	When I first got a glimpse at the witness list , I could n't believe that they were going to go ahead and do this , '' says Michael Waldman , director of Congress Watch , a consumer group
+2	When I first got a glimpse at the witness list , I could n't believe that they were going to go ahead and do this	There are some witnesses who will be forced to testify about their meetings with senators
+2	they merely were trying to ensure fairness for a constituent	Mr. Keating lives in Phoenix , and the California thrift 's parent is an Ohio-chartered corporation with holdings in Michigan
+8	Chairman Gonzalez expresses sympathy for Sen. Riegle , his counterpart as chairman of the Senate Banking Committee	He 's wise , he 's good and I know he 's an honest man , '' the Texan says
+5	They were willing to trade important provisions in the bailout legislation to preserve Mr. Wall 's job and to avoid a reconfirmation hearing in which he would be called upon to testify about Lincoln S & L	Most importantly , the Senate traded away the Bush administration 's controversial plan to finance the bailout , which was partly reinstated later
+1	At the time , Mr. Gonzalez said several senators told him that they `` could get some roadblocks out of the way if there could be some understanding on Garn 's insistence on Wall	Now Mr. Gonzalez is holding the equivalent of reconfirmation hearings anyway , under the guise of the Lincoln investigation
+8	Now Mr. Gonzalez is holding the equivalent of reconfirmation hearings anyway , under the guise of the Lincoln investigation	In a way , that 's what this is
+2	Even some House Banking Committee members could suffer from the fallout	Mr. Keating raised $ 20,000 for Rep. Doug Barnard 's 1986 re-election campaign while the Georgia Democrat was taking his side against regulators who wanted to curb risky investments and wholesale deposit brokering
+8	Even some House Banking Committee members could suffer from the fallout	Mr. Keating raised $ 20,000 for Rep. Doug Barnard 's 1986 re-election campaign while the Georgia Democrat was taking his side against regulators who wanted to curb risky investments and wholesale deposit brokering
+5	while the Georgia Democrat was taking his side against regulators who wanted to curb risky investments and wholesale deposit brokering	He recently voted `` present '' when the committee authorized a subpoena to compel Mr. Keating to testify
+6	But the chairman 's supporters have the upper hand as federal regulators press a $ 1.1 billion fraud suit against Mr. Keating and others	Rep. Jim Leach ( R. , Iowa ) says the Lincoln S & L affair is `` the biggest bank heist in history , '' and adds : `` The great question that remains to be resolved is whether we have a congressional Watergate in the making
+4	But the witness , William Crawford , California 's chief state thrift regulator , denies saying that	I do n't know whether it was done properly or not , because I 'm not a lawyer , '' he said in a telephone interview yesterday
+2	When Anne Volokh and her family immigrated to the U.S. 14 years ago , they started life in Los Angeles with only $ 400	They 'd actually left the Soviet Union with $ 480 , but during a stop in Italy Ms. Volokh dropped $ 80 on a black velvet suit
+2	They 'd actually left the Soviet Union with $ 480 , but during a stop in Italy Ms. Volokh dropped $ 80 on a black velvet suit	Not surprisingly , she quickly adapted to the American way
+6	Not surprisingly , she quickly adapted to the American way	Three months after she arrived in L.A. she spent $ 120 she did n't have for a hat
+6	Since then she has become wealthy	Her husband and older son -- a computer prodigy profiled in The Wall Street Journal in 1981 , when he was 13 -- run a software company with expected sales this year of $ 10 million
+2	Since then she has become wealthy	Her husband and older son -- a computer prodigy profiled in The Wall Street Journal in 1981 , when he was 13 -- run a software company with expected sales this year of $ 10 million
+5	Her husband and older son -- a computer prodigy profiled in The Wall Street Journal in 1981 , when he was 13 -- run a software company with expected sales this year of $ 10 million	Most recently , she has become the publisher of Movieline , a four-year-old Los Angeles magazine that began national distribution last month , with an initial press run of 100,000 copies
+4	No , darling	You have to be born with it
+6	You have to be born with it	I used to wear hats in Russia , but I had to make them and my dresses
+2	I used to wear hats in Russia , but I had to make them and my dresses	On the hat side I was n't getting what I wanted
+6	Now 48 years old , Ms. Volokh has definite ideas about what she wants	At Movieline , she wants `` specific paragraphing , specific tone , a specific attitude -- bright and bold and tongue-in-cheek
+5	At Movieline , she wants `` specific paragraphing , specific tone , a specific attitude -- bright and bold and tongue-in-cheek	In restaurants ( in this case , the Russian Samovar , a New York restaurant operated by and for Soviet emigres ) , she did n't want the chirpy , folkish music bouncing through the room
+2	In restaurants ( in this case , the Russian Samovar , a New York restaurant operated by and for Soviet emigres ) , she did n't want the chirpy , folkish music bouncing through the room	and called over to the waitress : `` Could you turn it off
+6	That done , Ms. Volokh spoke with rampant eloquence about the many attributes she feels she was born with : an understanding of food , business , Russian culture , human nature , and parties	Parties are rather a state of mind , '' she said
+2	Parties are rather a state of mind	If you are born to give parties , you give parties
+6	If you are born to give parties , you give parties	Even in Russia we managed to give parties
+7	Even in Russia we managed to give parties	In Los Angeles , in our lean years , we gave parties
+2	As publisher of a magazine devoted to movies as guideposts for fashion and other fantasies , Ms. Volokh sees her party-giving as an important part of business	She has thrown extravagant soirees for crowds of people , but prefers more intimate gatherings
+2	She has thrown extravagant soirees for crowds of people , but prefers more intimate gatherings	At American cocktail parties everyone 's always looking over your shoulder to see who they can talk to next
+2	I like rather tea , because it is at the end of the day	She serves high Russian tea , at 5 p.m
+5	She serves high Russian tea , at 5 p.m	It 's supposed to be later but I just moved it
+2	It 's supposed to be later but I just moved it	In Los Angeles , it 's important to catch people just after work
+8	She also frequently invites directors , producers , actors , writers and other show business people for `` coffee and clips in the pleasure dome	Guests bring movies on tape , and show their favorite three-to-five minute segments on the screen that unrolls from the ceiling of the Volokhs ' art-nouveau library ( `` the pleasure dome '' )
+5	Guests bring movies on tape , and show their favorite three-to-five minute segments on the screen that unrolls from the ceiling of the Volokhs ' art-nouveau library ( `` the pleasure dome '' )	They eat `` sinful and sensual things '' -- and explain their clips
+9	The idea for Movieline actually was dreamed up by an old friend of the Volokhs , Boris Krutchensky and Laurie Halpern Smith , now the magazine 's co-editor	Mr. Krutchensky approached Ms. Volokh five years ago about backing the publication , which started out as a listing guide
+1	Mr. Krutchensky approached Ms. Volokh five years ago about backing the publication , which started out as a listing guide	She was interested only if she could guide it editorially as well
+4	Anne does n't believe in blandness	She wants things to be exciting
+2	And she has this inexhaustible energy	She 'll think of an idea the editorial people think is impossible , then she 'll have us make it work
+4	In fact , Ms. Volokh was n't just a rich lady who needed a hobby	Back in the Soviet Union she was a respected journalist , writing a weekly column about the national cuisine for Sunday Izvestia
+5	Back in the Soviet Union she was a respected journalist , writing a weekly column about the national cuisine for Sunday Izvestia	Those columns became the basis for her erudite and entertaining cookbook , `` The Art of Russian Cuisine , '' brought out in 1983 by Macmillan Publishing Co
+6	I do n't trust people who do n't eat	Look at Dostoevski and Kafka
+8	Look at Dostoevski and Kafka	No one ever eats in their books and look at them
+5	Tolstoy 's characters eat , Pushkin 's , Gogol 's	In her cookbook , which Macmillan is bringing out in soft cover this month ( with the blini recipe revised so it works ) , she introduces each chapter with appropriate quotations from Russian literature : Pushkin on blini , Goncharov on piroghi
+5	In her cookbook she introduces each chapter with appropriate quotations from Russian literature : Pushkin on blini , Goncharov on piroghi	In life , she offers practical dieting advice : `` Divide your meals into important and unimportant
+8	Divide your meals into important and unimportant	In a great restaurant , do n't deprive yourself
+2	Divide your meals into important and unimportant	In a great restaurant , do n't deprive yourself
+1	In a great restaurant , do n't deprive yourself	The other meals do n't matter
+8	She was the child of relative privilege	Her mother was a translator ; her father was `` the eternal vice director
+5	Her mother was a translator	her father was `` the eternal vice director
+8	But we should n't leave out political reasons , number one	You try to maintain your dignity under difficult circumstances
+5	You try to maintain your dignity under difficult circumstances	One can not imagine how you live when you live those double and triple lives
+2	By 1973 , after their second child was born , it had become clear to Ms. Volokh and her husband Vladimir , a computer scientist , that they wanted to leave the U.S.S.R	Ms. Volokh quit her job , to remove herself from the public eye
+5	The wait was miserable	Before granting Ms. Volokh 's parents a visa , the government required her mother to obtain permission from her first husband , whom she had divorced 38 years earlier
+5	Mr. Volokh was fired from his job , and had to endure hours of organized verbal abuse from his co-workers , accusations of sabotage and counterrevolutionary activities	The Volokhs were afraid that they 'd end up like a friend of theirs who 'd applied for a visa and waited for 10 years , having been demoted from his profession of theoretical mathematician to shipping clerk
+4	They did n't	Their visa came in relatively short order , and they moved to Los Angeles
+9	Their visa came in relatively short order , and they moved to Los Angeles	Mr. Volokh soon found work in his field , but Ms. Volokh refused the obvious and available occupation-as translatorfor a Russian who spoke fluent English
+2	but Ms. Volokh refused the obvious and available occupation-as translatorfor a Russian who spoke fluent English	That 's always looking back
+4	That 's always looking back	I wanted to be in business
+2	I wanted to be in business	On the way to that goal , she received her first U.S. paycheck for proofreading a book of Polish poetry , attended secretarial school , then went to work for a fund-raising organization
+5	Now Movieline is located in the same building as Vesoft	Things work out unexpectedly in life
+8	Things work out unexpectedly in life	You never know if you 'll be chosen to be the scapegoat or the lucky one
+8	William D. Forrester , president of the U.S.-U.S.S.R.Trade and Economic Council , has a warning for U.S. companies trying to do business in the Soviet Union	It 's an extremely complex market , and you have to be prepared to make a big commitment
+2	It 's an extremely complex market , and you have to be prepared to make a big commitment	We are not trying to encourage everyone
+5	Undeterred by such words of caution , corporate America is flocking to Moscow , lured by a huge untapped market and Mikhail Gorbachev 's attempt to overhaul the Soviet economy	Doing business with the Russians , once the pursuit of a handful of hardened veterans , has become the goal of such major companies as General Motors Corp. , Federal Express Corp. and Procter & Gamble Co. , as well as a cluster of smaller firms
+5	Doing business with the Russians , once the pursuit of a handful of hardened veterans , has become the goal of such major companies as General Motors Corp. , Federal Express Corp. and Procter & Gamble Co. , as well as a cluster of smaller firms	Reflecting the new-found interest , more than 140 U.S. companies are taking part in a Moscow exhibition organized by Mr. Forrester 's trade group
+6	But while U.S. interest may be big and growing , the difficulties that have stymied deals in the past show no sign of abating	Alongside the old problems of a non-convertible currency and an inpenetrable bureaucracy , Western business executives must now grapple with new complexities linked to perestroika , the restructuring of the Soviet economy
+2	Mr. Gorbachev 's moves to break up the government 's foreign trade monopoly have created uncertainties as well as opportunities	Changing legislation has opened the field to thousands of inexperienced Soviet players , many who promise more than they can deliver
+8	Growing public fears about the Soviet environment is one new factor affecting some joint-venture plans	Over the past two years , Soviet ministries have been talking to international firms , including Occidental Petroleum Co. and Combustion Engineering Inc. of the U.S. , Montedison S.p.A. of Italy and several Japanese groups , about jointly building and operating several big petrochemical plants.The plans have come under fire from Soviet environmentalists , and officials say many are likely to be scaled back or dropped
+1	Over the past two years , Soviet ministries have been talking to international firms , including Occidental Petroleum Co. and Combustion Engineering Inc. of the U.S. , Montedison S.p.A. of Italy and several Japanese groups , about jointly building and operating several big petrochemical plants	The plans have come under fire from Soviet environmentalists , and officials say many are likely to be scaled back or dropped
+5	Whatever the difficulties , Mr. Gorbachev remains committed to increasing foreign trade	For political as well as economic reasons , U.S. companies are at the top of his priorities -- a point he underscored by spending two hours walking around the U.S. trade show last week
+5	Talking to a small group of U.S. executives afterwards , Mr. Gorbachev appeared impatient for a big expansion in U.S.-Soviet trade , which now amounts to a meager $ 3 billion annually	The U.S. ranks fourth of countries that have concluded joint ventures , behind West Germany , Finland and Italy
+6	Judging by the crush at the exhibition , deprived Soviet consumers are more than ready for U.S. products	Hundreds of people lined up every day at the Colgate-Palmolive Co. stand to receive a free tube of toothpaste , a commodity in chronically short supply here
+6	Some U.S. products are filtering into the Soviet market under an emergency import program	Both Colgate and Procter & Gamble have received big orders for toothpaste , soap and detergents
+5	Both Colgate and Procter & Gamble have received big orders for toothpaste , soap and detergents	it is planning to ship some $ 500 million of consumer goods , financed by bank credits , in the first few months of next year
+2	But the current Soviet purchasing spree may be a one-time affair	The goal of most U.S. firms -- joint ventures -- remains elusive
+1	The goal of most U.S. firms -- joint ventures -- remains elusive	Because the Soviet ruble is n't convertible into dollars , marks and other Western currencies , companies that hope to set up production facilities here must either export some of the goods to earn hard currency or find Soviet goods they can take in a counter-trade transaction
+6	International competition for the few Soviet goods that can be sold on world markets is heating up , however	West German companies already have snapped up much of the production of these items
+5	Seeking to overcome the currency problems , Mr. Giffen 's American Trade Consortium , which comprises Chevron Corp. , RJR , Johnson & Johnson , Eastman Kodak Co. , and Archer-Daniels-Midland Co. , has concocted an elaborate scheme to share out dollar earnings , largely from the revenues of a planned Chevron oil project	Several medical concerns , including Pfizer Inc. , Hewlett-Packard Co. , Colgate and Abbott Laboratories intend to pursue a similar consortium approach
+6	Some U.S. entrepreneurs operate on a smaller scale	One group seeks to publish a U.S.-Soviet medical journal in conjunction with the U.S.S.R. Ministry of Health
+5	One group seeks to publish a U.S.-Soviet medical journal in conjunction with the U.S.S.R. Ministry of Health	According to Richard P. Mills , a Boston-based official of the U.S. partner , 10,000 copies of the quarterly will be printed in Russian from next year
+8	We found a market niche	It 's truly entrepreneurial
+5	No reason for the request was given	Credit Agricole officials could n't be immediately reached for comment
+2	The decision to accept Credit Agricole 's bid , valued at 283.3 billion lire ( $ 207.4 million ) , came after a stormy weekend meeting	Nuovo Banco 's second largest shareholder , the Fiat S.p.A.-controlled investment concern , Gemina S.p.A. , fought to have Generali 's offer approved
+2	Nuovo Banco 's second largest shareholder , the Fiat S.p.A.-controlled investment concern , Gemina S.p.A. , fought to have Generali 's offer approved	Gemina , which owns 13.26 % of Nuovo Banco , abstained in the final vote on Credit Agricole , which was nonetheless approved by a majority of shareholders
+8	that `` it reserves the right to take any action to protect its rights as a member of the syndicate	the company had n't decided what measures to take , but did n't rule out legal action
+5	The sales are expected to raise more than 600 million Australian dollars ( US $ 462.2 million ) , Mr. Skase said	Qintex Australia has n't disclosed its borrowings , but analysts estimate the company 's debt at A $ 1.2 billion
+2	the restructuring plan calls for the merger of Qintex Australia with Qintex Ltd	the move will `` significantly reduce administrative and operating costs
+2	Friday , Qintex Entertainment Inc. , a 43 % -owned U.S. affiliate , filed for protection from creditor lawsuits under Chapter 11 of the U.S. Bankruptcy Code	that the move would further shake creditor confidence in Qintex Australia and force it to sell assets
+8	Mr. Skase 's statement was addressed to the stock exchange and appeared to be a response to the inquiry	It said Qintex Entertainment owes Qintex Australia US $ 38.1 million in loans not secured by specific assets
+1	Before its shares were suspended from trading , Qintex Australia plunged to 16 Australian cents ( 12 U.S. cents ) a share yesterday from 33 Australian cents Friday	The shares traded at about A $ 1.50 in March , when the plan to acquire MGM/UA was announced
+1	Qintex Australia has n't yet reported results for the fiscal year ended July 31	In his statement , Mr. Skase said preliminary accounts showed that group profit before interest , tax and depreciation `` will exceed A $ 170 million
+1	In his statement , Mr. Skase said preliminary accounts showed that group profit before interest , tax and depreciation `` will exceed A $ 170 million	He gave no further details
+8	Qintex Australia paid the management company A $ 32.6 million in the latest fiscal year	most of the money went to other parties for expenses such as rent and travel , but a smaller portion is owed to senior executives and others for management services
+9	Non-executive directors of Qintex Australia , who must approve payments to the senior executives , balked at the amount	Two of the directors resigned so the payments have n't yet been approved
+8	which can remember data for at least 10 years without any current flowing to them	The chips use materials , such as lead zirconate titanate , to form microscopic switches that retain their data without electricity
+2	Once production hurdles are overcome , the chips could take over a significant part of the market	In addition to not needing an outside power source , they are potentially cheaper to make because they require fewer manufacturing steps than conventional chips
+6	That could change , thanks to lower long-distance rates and cheaper electronics	Video Telecom Corp. is working with court reporters to wire a nationwide network to allow depositions by live television
+1	JAPAN 'S MISUSE of U.S. patents has been a sore point for American chip makers	Now at least one Japanese company is turning the courtroom tables
+8	Hitachi made the reverse-engineering charges in an amendment to a counterclaim filed in a federal district court in Texas after Motorola sued Hitachi for patent violation	Hitachi charges Motorola `` has engaged in fraudulent and inequitable conduct in the procurement of certain Motorola patents '' used in Motorola 's MC68030 microprocessor chip
+8	An N.V. Philips unit has created a computer system that processes video images 3,000 times faster than conventional systems	Using reduced instruction-set computing , or RISC , chips made by Intergraph of Huntsville , Ala. , the system splits the image it `` sees '' into 20 digital representations , each processed by one chip
+2	The results , which represented the fifth consecutive quarter of flat-to-lower earnings for the big electronics retailer , disappointed analysts and traders	Tandy 's stock fell $ 1.375 a share to close at $ 44 in New York Stock Exchange composite trading
+1	Net for the quarter was $ 62.8 million , or 73 cents a share , down from $ 64.9 million , or 72 cents a share , a year earlier	earnings would have increased if it had n't been actively repurchasing its shares
+8	The company said earnings would have increased if it had n't been actively repurchasing its shares	Tandy had 86.3 million shares outstanding at Sept. 30 , down from 90 million a year earlier
+8	Radio Shack continues to be lackluster	Tandy `` has done a decent job '' increasing sales by manufacturing computers for others and expanding sales of its Grid Systems Corp. subsidiary , which sells computers to bigger businesses , but `` it 's not enough to offset the problems at Radio Shack
+2	but `` it 's not enough to offset the problems at Radio Shack	Sales at Radio Shack stores open more than a year grew only 2 % in the quarter from a year earlier
+1	As a result , Mr. Telzrow said he cut his fiscal 1990 per-share earnings estimate for Tandy to $ 4.05 from $ 4.20	Tandy earned $ 88.8 million , or $ 3.64 a share , in the year ended June 30
+2	Tandy has added several new products to that line , including a laptop computer priced around $ 1,000 , and is focusing its advertising on the easy-to-use software that is packaged with its machines	all those moves will combine to help Tandy 's results improve in the important Christmas quarter
+1	They 've been promising 13 % to 15 % growth based on the strategic moves they 've made	If the earnings acceleration is to take place , that should be the quarter
+5	the junk market was in disarray , according to people familiar with the discussion	Drexel -- the leading underwriter of high-risk junk bonds -- could no longer afford to sell any junk offerings if they might later become troubled because Drexel risked losing its highly lucrative junk franchise
+2	Amid the market disorder , even Drexel , which has the widest and most loyal following of junk bond investors , is pulling in its horns	Although the big investment bank still dominates the junk market , Drexel has been unable to stem the fallout from growing junk bond defaults , withdrawn new offerings , redemptions by shareholders in junk bond mutual funds and an exodus of once-devoted investors
+5	For many money managers , the past four months have been humiliating	This is the worst shakeout ever in the junk market , and it could take years before it 's over
+5	In the third quarter , for example , junk bonds -- those with less than an investment-grade rating -- showed negative returns , the only major sector of the bond market to do so	Since the end of last year , junk bonds have been outperformed by all categories of investment-grade bonds , including ultra-safe Treasury securities
+9	The junk market , which mushroomed to $ 200 billion from less than $ 2 billion at the start of the decade , has been declining for months as issuers have stumbled under the weight of hefty interest payments	The fragile market received its biggest jolt last month from Campeau Corp. , which created its U.S. retailing empire with more than $ 3 billion in junk financing
+10	The fragile market received its biggest jolt last month from Campeau Corp. , which created its U.S. retailing empire with more than $ 3 billion in junk financing	Campeau developed a cash squeeze that caused it to be tardy on some interest payments and to put its prestigious Bloomingdale 's department store chain up for sale
+8	The fragile market received its biggest jolt last month from Campeau Corp. , which created its U.S. retailing empire with more than $ 3 billion in junk financing	Campeau developed a cash squeeze that caused it to be tardy on some interest payments and to put its prestigious Bloomingdale 's department store chain up for sale
+1	his dinner discussion with the Prudential executives acknowledged problems for junk	What I was saying is that the market is troubled but still viable and , appropriately enough , quite quality-conscious , which is not at all bad
+8	his dinner discussion with the Prudential executives acknowledged problems for junk	What I was saying is that the market is troubled but still viable and , appropriately enough , quite quality-conscious , which is not at all bad
+2	that the market is troubled but still viable and , appropriately enough , quite quality-conscious	Nobody 's been perfect in their credit judgments the past couple years
+2	What has jolted many junk buyers is the sudden realization that junk bonds can not necessarily be bought and sold with the ease of common stocks and many investment-grade bonds	Unlike the New York Stock Exchange , where buyers and sellers are quickly matched , the junk market , where risky corporate loans are traded , is sometimes closed for repairs
+8	the problems of the junk market go deeper than a temporary malaise	In recent months there has been heavy selling of junk bonds by some of the market 's traditional investors , while new buyers have n't materialized to replace them
+9	Investors , trying to raise cash , have sold `` large liquid issues '' such as RJR Holdings Corp. and Kroger Co	declines in these benchmark issues have contributed to the market 's distress
+8	Meanwhile , Prudential , the nation 's largest insurer and the biggest investor in junk bonds , has seen the value of its junk bond portfolio drop to $ 6.5 billion from $ 7 billion since August because of falling junk prices	We certainly do have a lack of liquidity here , and it 's something to be concerned about
+2	We certainly do have a lack of liquidity here , and it 's something to be concerned about	I have no reason to think things will get worse , but this market has a knack for surprising us
+8	but this market has a knack for surprising us	This market teaches us to be humble
+2	And the risks are n't appropriate for us	The big insurer , unlike Prudential , owns only about $ 150 million of publicly sold junk bonds
+6	The string of big junk bond defaults , which have been a major cause of the market 's problems this year , probably will persist , some analysts say	If anything , we 're going to see defaults increase because credit ratings have declined , '' says Paul Asquith , associate professor at the Massachusetts Institute of Technology 's Sloan School of Management
+8	this year 's junk bond defaults already show a high correlation with his own findings	His study showed that junk bonds over time had a cumulative default rate of 34 %
+8	Obviously , we got a lot more smoke than fire from the people who told us the market was n't so risky	that the risks and returns of junk bonds are less than on common stocks but more than on investment-grade bonds
+8	that the risks and returns of junk bonds are less than on common stocks but more than on investment-grade bonds	The junk market is no bonanza as Drexel claimed , but it also is n't a disaster as the doomsayers say
+8	Still , the list of troubled Drexel bond offerings dwarfs that of any firm on Wall Street	Troubled Drexel-underwritten issues include Resorts International , Braniff , Integrated Resources , SCI TV , Gillette Holdings , Western Electric and Southmark
+8	Helen Boehm has a way with names	Like which are droppable and which are not
+2	Name-dropping is pervasive and getting more so as society becomes more complex and alienating	It can be an avenue of entrance to a certain sector of society
+5	It can be an avenue of entrance to a certain sector of society	It provides some people a needed sense of affiliation and can help open up a conversation with someone you do n't know
+9	I was having a drink in Sardi 's , when all of a sudden I saw a woman 's backside coming up the steps on the second floor and she was wearing sequined slacks	I knew it was someone important , so I followed her into the ladies room and sure enough , it was Liza
+8	Some people must drop names -- call it an irresistible impulse	They ca n't help talking about the big important people they know , even if they do n't really know them
+2	Name-dropping recently helped Mr. Houston-Montgomery crash a party Fame magazine threw for 100 of the 2,809 people mentioned in the diaries of the late Andy Warhol	I guess I might have asked Beauregard to leave , but he drops so many good names , we decided to let him stay
+2	I guess I might have asked Beauregard to leave , but he drops so many good names , we decided to let him stay	After all , Warhol was the ultimate namedropper , dropping five a day in his diaries
+5	there are people who actually plan whose names they are going to drop before attending a party	These droppers do n't flaunt only their friendships with the Trumps , Brooke Astor or Georgette Mosbacher
+5	These droppers do n't flaunt only their friendships with the Trumps , Brooke Astor or Georgette Mosbacher	They even drop semi-obscure names like Wolfgang Flottl , whom everybody these days apparently has heard of but no one really knows
+2	They even drop semi-obscure names like Wolfgang Flottl	It 's the one-upsmanship of name-dropping that counts
+6	But name-dropping has other benefits , often civic	In the name of civic pride and from the desire to nullify a negative image , some city promoters seek to link their municipality with the most recognizable names the city has to offer
+8	Take Cleveland	It has gotten a bad rep because its once heavily polluted Cuyahoga River caught fire , because former Mayor Ralph Perk set his hair on fire with an acetylene torch and because its proposed Rock ' n ' Roll Hall of Fame was recently refused an urban-development grant
+5	It has gotten a bad rep because its once heavily polluted Cuyahoga River caught fire , because former Mayor Ralph Perk set his hair on fire with an acetylene torch and because its proposed Rock ' n ' Roll Hall of Fame was recently refused an urban-development grant	Some people call it `` The Mistake on the Lake '' -- Lake Erie , that is
+5	that actor Paul Newman 's family owned a sporting-goods store in Cleveland , that the late actress Margaret Hamilton , who played the bad witch in `` The Wizard Of Oz , '' once ran a nursery school in Cleveland and that comedian Bob Hope 's father , a stonemason , once worked on a church next to Severence Hall , Cleveland 's main concert hall	Power names like that do n't hurt the city 's reputation
+6	In Hollywood , an average family can gain cachet from moving into a home vacated by the famous or near famous	Why we even just sold a three-bedroom house in Van Nuys and were able to keep the price firm in a weak real-estate market by noting that the original Lone Ranger lived there
+1	Why we even just sold a three-bedroom house in Van Nuys and were able to keep the price firm in a weak real-estate market by noting that the original Lone Ranger lived there	Most people ca n't even remember his name
+1	that a 3.2-acre property overlooking the San Fernando Valley is priced at $ 4 million because the late actor Erroll Flynn once lived there	If Flynn had n't lived there , the property might have been priced $ 1 million lower
+6	And some even do it with malice aforethought	Len Kessler , a financial publicist in New York , sometimes uses it to get the attention of journalists who try to avoid him
+6	Len Kessler , a financial publicist in New York , sometimes uses it to get the attention of journalists who try to avoid him	that when Dan Dorfman , a financial columnist with USA Today , has n't returned his phone calls , he leaves messages with Mr. Dorfman 's office saying that he has an important story on Donald Trump , Meshulam Riklis or Marvin Davis
+8	There are , of course , obvious dangers to blatant , unsubstantiated name-dropping	that dropping the wrong name labels the dropper as a fake and a fraud
+8	that dropping the wrong name labels the dropper as a fake and a fraud	Get caught and you 're dead in the water
+2	that Elizabeth Taylor , a client , `` hates being called ` Liz	If directors or producers phone me and say they know ` Liz , ' I know they 've never met her
+2	If directors or producers phone me and say they know ` Liz , ' I know they 've never met her	She prefers ` Elizabeth
+2	how tycoons such as the late Jean Paul Getty , the oil billionnaire , were , in fact , known only by one initial , their last	When you 're at the club , you ask whether they 've spoken to ` G
+2	When you 're at the club , you ask whether they 've spoken to ` G	Now they know who you mean and you know who you mean
+2	But no one else does	Now that 's name-dropping , if you know what I mean
+1	Twenty years ago , in the infancy of suburban sprawl , just a handful of dealerships were here	Now there are 23
+5	Alongside such long-familiar names as Chevrolet , Ford and Dodge are nameplates that did n't exist until three years ago : Acura , Sterling , Hyundai	Under construction is the strip 's 24th showroom , the future home of Lexus , a luxury marque launched by Toyota Motor Corp. just two months ago
+10	Alongside such long-familiar names as Chevrolet , Ford and Dodge are nameplates that did n't exist until three years ago : Acura , Sterling , Hyundai	Under construction is the strip 's 24th showroom , the future home of Lexus , a luxury marque launched by Toyota Motor Corp. just two months ago
+8	And especially in cars	Americans now can choose among 572 different models of cars , vans and trucks , up from just 408 when the decade began , according to Automotive News , a trade publication
+5	For car marketers , it has become a much tougher battle to keep loyal customers from defecting to one of the new makes on the block	For American car buyers , the proliferation of choice is both liberating and confusing
+8	the proliferation `` nameplate mania	the number of automobile choices is causing stress among consumers today , and that people will simply ignore new models that lack a well-defined image
+4	that people will simply ignore new models that lack a well-defined image	The winners will be brands from car makers that have traditionally been associated with quality and value
+2	it 's important for a new make to be as distinctive as possible while still retaining links to the parent company 's quality image	He applauds Toyota and Nissan Motor Co. for creating separate divisions for their new luxury models , rather than simply adding more nameplates to their standard car lines
+1	Some auto executives believe the benefits of more choice outweigh the drawbacks	There 's more noise out there , and the consumer may have to work harder to cut through it
+8	Some auto executives believe the benefits of more choice outweigh the drawbacks	There 's more noise out there , and the consumer may have to work harder to cut through it
+5	that it 's just the thing to haul nine grandchildren and pull a boat at the same time	That seems to be what all my friends are using to take the grandkids to the lake
+10	Market segmentation in cars is n't new , but it 's far more extensive than when Alfred P. Sloan Jr. conceived the idea 50 years ago	The legendary GM chairman declared that his company would make `` a car for every purse and purpose
+1	Now there are many cars for every purse and purpose	Just four years ago , GM planners divided the combined car and truck market into seven segments
+1	Just four years ago , GM planners divided the combined car and truck market into seven segments	Today , they identify 19 distinct segments for cars , and another 11 for trucks and vans
+2	The number of makes has mushroomed because the U.S. is the world 's biggest and richest market for automobiles	virtually every auto maker wants to sell here
+2	virtually every auto maker wants to sell here	For every brand like Renault or Fiat that has been squeezed out , others such as Isuzu , Daihatsu and Mitsubishi have come in
+6	Detroit tries to counter the foreign invasion with new brands of its own	GM launched the Geo marque this year to sell cars made in partnership with foreign auto makers , and next year GM 's long-awaited Saturn cars will make their debut
+5	GM launched the Geo marque this year to sell cars made in partnership with foreign auto makers , and next year GM 's long-awaited Saturn cars will make their debut	Ford Motor Co. created the Merkur nameplate in 1985 to sell its German-made touring sedans in the U.S
+8	When consumers have so many choices , brand loyalty is much harder to maintain	that 53 % of today 's car buyers tend to switch brands
+5	Which cars do Americans favor most these days	It 's hard to generalize , but age seems to be the best predictor
+6	It 's hard to generalize , but age seems to be the best predictor	Adults under age 30 like sports cars , luxury cars , convertibles and imports far more than their elders do
+8	Adults under age 30 like sports cars , luxury cars , convertibles and imports far more than their elders do	Three of every 10 buyers under 30 would prefer to buy a sports car , compared with just 16 % of adults 30 and over , according to the Journal survey
+1	Perhaps most striking , 35 % of households headed by people aged 18 to 44 have at least one foreign car	That 's true of only 14 % of households headed by someone 60 or older
+5	Generally , imports appeal most to Americans who live in the West and are well-educated , affluent and , especially , young	For many baby boomers , buying a domestic car is a totally foreign experience
+6	even though many Americans believe differences between imported and domestic cars are diminishing	Only 58 % of Americans now believe that foreign cars get better gas mileage than domestic models down from 68 % in 1987
+5	Only 58 % of Americans now believe that foreign cars get better gas mileage than domestic models , the Journal survey found , down from 68 % in 1987	Some 46 % give foreign cars higher quality ratings , down from 50 % two years ago
+6	People in the automotive business disagree over how susceptible younger Americans are to brand switching	Once buying habits are formed , they 're very hard to break , '' declares Thomas Mignanelli , executive vice president for Nissan 's U.S. sales operations . But out on Cobb Parkway , Ted Negas sees it differently
+8	But out on Cobb Parkway , Ted Negas sees it differently	The competition is so intense that an owner 's loyalty to a dealership or a car is virtually nonexistent , '' says Mr. Negas , vice president of Ed Voyles Oldsmobile , one of the first dealerships to locate on the strip
+6	The battle for customer loyalty is evident along the Cobb Parkway strip	Ed Voyles Olds recently established a special section in the service department for owners whose cars are less than a year old , so they get quicker service
+5	Ed Voyles Olds recently established a special section in the service department for owners whose cars are less than a year old , so they get quicker service	Just down the street , Chris Volvo invites serious shoppers to test-drive a new Volvo to any other dealership along the strip , and compare the cars side-by-side
+6	Manufacturers , too , are stretching further to lure buyers	GM 's Cadillac division , ignoring Detroit 's long-held maxim that safety does n't sell , is airing television commercials touting its cars ' safety features
+2	Cadillac may be on to something	Some 60 % of the survey respondents said they would buy anti-lock brakes even if they carry a medium or high price tag
+5	Some 60 % of the survey respondents said they would buy anti-lock brakes even if they carry a medium or high price tag	More than 50 % felt the same way about air bags
+5	Some 60 % of the survey respondents said they would buy anti-lock brakes even if they carry a medium or high price tag.More than 50 % felt the same way about air bags	Both features appealed most to buyers under 45
+6	But even a little appeal has a lot of attraction these days	GM 's Pontiac division is offering a turbo-charged V-6 engine on its Grand Prix model , even though it expects to sell only about 4,000 cars equipped with that option
+2	Americans spent more than $ 190 billion on new cars and trucks last year , and just 1 % of that market exceeded Polaroid Co. 's sales of $ 1.86 billion	Even if it 's only 1 % would you throw away sales the size of Polaroid
+9	Edward Carlson awoke one morning last month to find eight holes in his front yard where his prized miniature palms , called cycads , once stood	Days later , the thieves returned and dug out more , this time adding insult to injury
+2	this time adding insult to injury	The second time they left the shovel
+5	Evidently , somebody has realized it 's easy money to steal these things	Just last week , would-be thieves damaged three Sagos at Mr. Whitelock 's home in the Eagle Rock section before something frightened them off , foiled
+2	that the criminals are selling them to nurseries or landscapers	The Sago has become a popular accent in tony new housing tracts , apparently giving the rustlers a ready market for their filched fronds
+2	Thieves are going to find `` anybody who has enough bucks to plant these things in their front yard	The department is advising residents to plant Sagos , if they must , in the back yard and telling nurseries to be on the lookout for anyone trying to palm one off
+8	But for those Californians who want exotic gardens out front where neighbors can appreciate them , there 's always Harold Smith 's approach	After three Sagos were stolen from his home in Garden Grove , `` I put a big iron stake in the ground and tied the tree to the stake with a chain
+1	A daily average of 20.9 million shares traded in program strategies in September , the second-highest level ever	The highest level was in June 1989 , when a daily average of 22.1 million shares traded in program strategies
+5	Average daily trading volume in June of 180.3 million shares was considerably higher than in September	Program trading amounted to 12.3 % of average daily volume in June
+8	The top stock-index arbitrage firm last month was Morgan Stanley & Co	Of Morgan Stanley 's 66.8 million shares in program trades for the month , 53.1 million were in stock-index arbitrage trades
+5	The derivative suit is similar to a class-action complaint filed earlier this year	it expects other complaints to be filed in the wake of the original suit and a recent article in Barron 's magazine that focused on the company 's problems
+5	Although an Imperial spokesman said the company had n't yet been served with the derivative suit , he reiterated the company 's statement that it would vigorously defend itself against the class-action suit	Spokesmen at Drexel and First Executive said the companies had n't yet been served with the suit
+1	The industry has been waiting with bated breath for the machines to come along	that industry executives have until now worried that they would face a severe shortage of programs once consumers begin replacing their TV sets with HDTVs
+5	Japanese electronic giants , such as Sony Corp. and Hitachi Ltd. , have focused almost entirely on HDTV hardware , and virtually ignored software or programs shot in high-definition.And only a handful of small U.S. companies are engaged in high-definition software development	that just about 250 hours of HD programming is currently available for airing
+2	its new CCD HDTV converter will help alleviate the problem by allowing programmers and broadcasters to convert movies and television programs shot in 35mm motion-picture film into high-definition video	Consumers will be able to switch on their HDTV sets and get all the viewing benefits the high-tech medium offers
+2	And the potential market is tremendous	If HDTV takes off in the U.S. , there will be demand for some 4,000 to 5,000 HDTV converters , known in the industry as telecines
+8	If HDTV takes off in the U.S. , there will be demand for some 4,000 to 5,000 HDTV converters , known in the industry as telecines	Demand will come first from programming production companies and then from television stations
+2	that Kodak 's move is `` a sound marketing decision	They ca n't afford to stay out of HDTV
+8	Indeed , the stakes are high	that the HDTV market will total about $ 150 billion over the next two decades , with an additional $ 400 billion expected to go for related products
+8	But the financial rewards are n't expected soon , nor are they guaranteed	the first sets of HDTVs wo n't be available for another five to 10 years , and will probably retail for more than $ 3,000 each in today 's dollars
+5	and will probably retail for more than $ 3,000 each in today 's dollars	Some critics say they wo n't be quickly embraced by consumers because of the high price
+8	Nevertheless , Kodak could n't risk letting HDTV turn its motion-picture film business into a dinosaur	Kodak understands HDTV is where everybody is going
+5	Garish neon pachinko marquees blaze from the main streets and narrow alleys of cities and towns across the country	Devotees pass hours , watching the lights blink and listening to the metal balls ping , as much to gamble as to get a little time to be anonymous , alone with their thoughts
+2	If that money were being taxed , it could bring the government a badly needed several trillion yen	In 1984 , an attempt was made to crack down on the industry with tougher restrictions
+1	Then , in 1988 , a proposal to keep better track of income by selling prepaid cards for pachinko was fielded in parliament	The proposal split the industry in two , along the lines of national origin : North Koreans oppose the plan while South Koreans , Japanese and Taiwanese accept it or are neutral
+8	In August , a conservative weekly magazine reported that a pachinko industry organization donated money to Japan Socialist Party members	The magazine alleged that in making the donations , the pachinko industry may have been offering bribes to win support in the battle against prepaid cards , or it may have been laundering money back and forth between the JSP and the North Korean residents ' organization , the Chosen Soren
+8	But the press kept it alive	as with the Recruit scandal , lists began circulating with names of people who had received money
+9	The JSP admitted Oct. 13 that its members received about eight million yen from the pachinko organization , and charged LDP members with receiving 125 million yen ( $ 880,000 ) and other opposition parties with taking about 2.5 million yen	On Friday , the chief cabinet secretary announced that eight cabinet ministers had received five million yen from the industry , including 450,000 yen ( $ 3,175 ) by Prime Minister Toshiki Kaifu
+1	On Friday , the chief cabinet secretary announced that eight cabinet ministers had received five million yen from the industry , including 450,000 yen ( $ 3,175 ) by Prime Minister Toshiki Kaifu	No one has alleged that the donations were by themselves illegal
+1	making direct donations	its possible some of their members may be donating privately
+1	When Robert McDuffie was 14 , he got a chance to play in the starting lineup for his high school basketball team in Macon , Ga	Unfortunately , his mother had tickets for a recital by Itzhak Perlman the same night , and she was adamant about his attending
+2	and she was adamant about his attending	I threw such a fit
+2	Today , it 's obvious that the brawny , six-foot , one-inch musician made the right choice	At 31 , Mr. McDuffie has a rich , full-bodied tone , an admirable rhythmic precision and an increasingly busy schedule
+7	He 's currently in the midst of a 17-city U.S. tour with Yehudi Menuhin and the Warsaw Sinfonia , with stops including Charleston , S.C. ( Oct. 25 ) , Sarasota , Fla. ( Oct. 28 ) , Tampa , Fla. ( Oct. 29 ) and Miami ( Oct. 31 )	Later this season he gives a recital at Washington 's Kennedy Center , and appears as soloist with several major orchestras
+8	During the late 1970s , he was part of a musical `` brat pack '' -- a group of budding virtuosos who studied at the Juilliard School with the noted pedagogue Dorothy DeLay	His violin classmates included Shlomo Mintz , a protege of Isaac Stern who performed with major orchestras while still a student ; Cho-Liang Lin , who joined the roster of ICM Artists Inc. at the age of 18 ; and Nadja Salerno-Sonnenberg , who launched her career by winning the 1981 Naumberg Competition
+5	He taught me how to play like a gypsy	I did n't learn to count until I got to Juilliard
+5	She only put her foot down twice	In my freshman year , my roommate was known as a party animal
+2	In my freshman year , my roommate was known as a party animal	She thought I was n't getting my practicing done
+2	She thought I was n't getting my practicing done	his grandmotherly looking teacher `` put her hands on her hips , stomped her foot and said , ` You 've just got to get the { expletive deleted } out of there
+8	The second incident took place after Mr. McDuffie gave an ambitious student recital and was feeling rather pleased with himself	Miss DeLay requested that he come to her studio with a tape of the recital
+5	You hear the first note , that B-flat	That 's the only note that 's truly in tune
+2	That 's the most important experience I 've had with any teacher because she taught me how to listen	Now , when I play with orchestras , the musicians often compliment me on my intonation
+5	It was also at Juilliard that Mr. McDuffie discovered his predilection for conservative , 20th-century American composers such as David Diamond and Samuel Barber	After winning a school competition with a performance of the latter 's `` Violin Concerto , '' Mr. McDuffie was invited to play the work for the composer , who was dying of cancer
+2	If a conductor is sensitive enough to bring down the orchestra { volume } at that point , it makes the piece magical	I do n't know why Barber never told anybody else
+6	I do n't know why Barber never told anybody else	On Isaac Stern 's recording it 's very biting
+6	Since leaving Juilliard , Mr. McDuffie has made some smart moves and some controversial ones	His guest appearance on the NBC soap opera `` Another World , '' scandalized musical elitists
+5	Mr. McDuffie 's sweet tone , heartfelt lyricism and rhythmic punch make him an ideal interpreter of both works	Aided by the fluid playing of the St. Louis Symphony under Leonard Slatkin 's direction , this `` Serenade '' really swings
+1	Aided by the fluid playing of the St. Louis Symphony under Leonard Slatkin 's direction , this `` Serenade '' really swings	Mr. Schuman 's `` Violin Concerto , '' which sounds more like a mildly atonal rhapsody for solo violin with orchestral accompaniment , meanders until the propulsive `` Agitato , fervente
+1	At Avery Fisher Hall here , Mr. McDuffie was heard recently with Mr. Menuhin and the Warsaw Sinfonia in more conventional fare -- Bruch 's overwrought `` Violin Concerto in G Minor	His performance was so effusive and driven that the phrases rarely breathed
+5	His performance was so effusive and driven that the phrases rarely breathed	The 35-member Sinfonia played adroitly with a big , lush sound that belied its size
+6	Whatever he plays , Mr. McDuffie finds satisfaction in the music itself -- `` something greater out there than me , '' as he puts it during an interview at the Manhattan apartment he shares with wife , Camille , a literary publicist	A normal person did not write the Beethoven ` Violin Concerto
+5	A normal person did not write the Beethoven ` Violin Concerto	Even when I hear it played badly , I 'm still humbled by the piece
+2	Even when I hear it played badly , I 'm still humbled by the piece	If I could ever feel I 've contributed to it in some way , then all the hard work has been worth it
+2	A lot of observers think so , and , if they 're right , the whole economy as well as the spendthrifts among us could be hurt	A sudden , forced cutback by consumers would damp the economy at a time when plant-and-equipment spending is slowing and deficit-racked governments ca n't readily take up the slack
+6	The worriers cite some worrisome trends	During the almost seven-year-old economic expansion , inflation-adjusted gross national product , disposable personal income and personal consumption expenditures have risen 30 % , but inflation-adjusted consumer installment credit has surged 66 %
+8	However , these figures do n't seem to worry Thomas A. Durkin , an economist at the Federal Reserve Board	In a paper presented at the recent annual meeting of the National Association of Business Economists in San Francisco , Mr. Durkin comments that `` installment credit always grows rapidly in cyclical advances , and growth in this cycle is very typical of earlier experiences
+5	that `` installment credit always grows rapidly in cyclical advances , and growth in this cycle is very typical of earlier experiences	We are now witnessing a slowdown which , if history is a guide , could persist for a while
+1	But what about the debt burden	that `` there is some magic level '' at which the ratio of installment debt to disposable income `` indicates economic problems
+8	The chart below shows why ( see accompanying illustration -- WSJ Oct. 23 , 1989 )	The ratio of consumer installment credit to disposable income , though up a bit , has n't climbed steeply , and such debt as a percent of household assets is little changed
+2	Moreover , the burden of consumer credit payments relative to disposable income may be `` lower in this cycle than earlier	that some `` revolving credit-card credit is actually convenience credit '' being used simply as a handy way of paying bills rather than a handy way of borrowing
+8	Moreover , the burden of consumer credit payments relative to disposable income may be `` lower in this cycle than earlier	that some `` revolving credit-card credit is actually convenience credit '' being used simply as a handy way of paying bills rather than a handy way of borrowing
+8	And much home-equity credit is used conservatively	The most frequent use is home improvement , which presumably improves the value of the property
+2	that consumers , conservative as ever , are already clutching their purses a bit more tightly	In July , consumer installment credit outstanding fell for the first time since January 1987
+5	but its financial profile is closely guarded by members of the founding family	There are very few companies that can boast of such a close-knit group
+8	There are very few companies that can boast of such a close-knit group	We are a vanishing breed
+6	The company sells image	Its current ad campaign does n't even show its underwear products , but rather men like Christopher Reeve , star of the `` Superman '' movies , talking about their lingerie turn-ons
+2	The Maidenform name `` is part of American pop culture	Maidenform generated such memorable campaigns as `` I dreamed I . . . in my Maidenform bra , '' and `` The Maidenform woman.You never know where she 'll turn up
+2	The intimate apparel industry is perceived to be a growth industry and clearly { Maidenform } is a force to be reckoned with	Although working women are `` forced to wear the uniform of the day , to retain their femininity they are buying better quality , more upscale intimate apparel
+9	Although Mr. Brawer 's appointment as president was long expected , the move on Sept. 25 precipitated the resignation of Alan Lesk as senior vice president of sales and merchandising	Three days later , Mr. Lesk was named president and chief executive officer of Olga Co. , a competing intimate apparel division of Warnaco Inc
+1	that after spending 24 years at Maidenform , Mr. Lesk , 48 , made it clear he wanted the top job	If you want the presidency of the company , this is n't the firm to work for
+6	Top officers insist Maidenform 's greatest strength is its family ownership	You ca n't go anywhere in this company and find an organizational chart , '' one delights
+5	You ca n't go anywhere in this company and find an organizational chart , '' one delights	It is fun competing as a private company , '' Mr. Brawer says
+2	It is fun competing as a private company	You can think long range
+6	Other major players in intimate apparel apparently feel the same way	Warnaco was taken private by Spectrum Group in 1986 for about $ 487 million
+5	Buy-out offers for Maidenform are n't infrequent but they are n't taken very seriously	When he gets calls , `` I do n't even have to consult '' with Mrs. Coleman
+2	The company could command a good price in the market	Over the past three and a half years , apparel companies , many of whom have strong brand names , have been bought at about 60 % of sales
+5	Mr. Brawer , along with Mrs. Coleman and her daughter , Elizabeth , an attorney who is vice chairman , are the family members involved in the operations of Maidenform , which employs about 5,000	Mr. Brawer 's wife , Catherine , and Robert Stroup , Elizabeth 's husband , round out the five-member board
+6	Executives say Mrs. Coleman is very involved in the day-to-day operations , especially product development	In the late 1960s she designed a lightweight stretch bra that boosted sales
+2	While the company has always been family-run , Mr. Brawer is n't the first person to marry into the family and subsequently head Maidenform	Mrs. Coleman 's husband , Joseph , a physician , succeeded Mrs. Rosenthal as president and served in that post until his death in 1968
+8	While the company has always been family-run , Mr. Brawer is n't the first person to marry into the family and subsequently head Maidenform	Mrs. Coleman 's husband , Joseph , a physician , succeeded Mrs. Rosenthal as president and served in that post until his death in 1968
+5	A country is considered financially healthy if its reserves cover three months of its imports	The $ 14 billion of reserves China had in June would cover just that much
+5	But before import growth slowed , China 's buying spree in the first half already had taken its toll on foreign-exchange reserves	The $ 14 billion level in June marked a drop from $ 19 billion at the end of April
+9	The $ 14 billion level in June marked a drop from $ 19 billion at the end of April	China 's last big import binge sent reserves tumbling to $ 10.6 billion in June 1985 from $ 16.6 billion the previous September
+8	For example , China 's hard-currency income is expected to suffer from the big drop in tourist arrivals since June 4	Revenue from tourism this year is projected to total $ 1.3 billion , down from $ 2.2 billion last year
+9	In one , imports and exports continue to grow at the respective average rates of 25 % and 5 % recorded during the first seven months , and the current-account deficit widens to $ 13.1 billion	In 1985 , China had a record deficit of $ 11.4 billion
+5	But since June , foreign bankers led by international financial institutions have virtually suspended their new loans to China	Even if borrowing resumes , commercial bankers are n't expected to lend as much as before
+6	With less capital coming in , China 's balance of payments would suffer	The Western government report 's first scenario assumes a 30 % reduction in foreign borrowing and a 5 % contraction in foreign direct investment
+7	The Western government report 's first scenario assumes a 30 % reduction in foreign borrowing and a 5 % contraction in foreign direct investment	In the second , foreign borrowing is projected to grow 10 % and investment to drop 10 %
+8	But in either case , the report says , China 's balance of payments would rapidly dry up foreign reserves , which are used to finance the imbalance	In the first scenario , the reserves would be exhausted next year , and in the second they would be wiped out in 1991
+2	Ralph Brown was 31,000 feet over Minnesota when both jets on his Falcon 20 flamed out	At 18,000 feet he and his co-pilot `` were looking for an interstate or a cornfield '' to land
+1	But knowing that mechanics would probably ground him for repairs , Mr. Brown skipped his stop in nearby Chicago and set course to get his load -- a few hundred parcels -- to the Memphis package-sorting hub on time	Had he been a little less gung-ho , `` I 'd have gotten the thing on the ground and headed for the nearest bar
+8	But he flies for Federal Express Corp. , perhaps the closest thing in corporate America to the Green Berets	Federal 's employees work long hours and seem to thrive on the stress of racing the clock
+5	Like Mr. Brown , they sometimes go to surprising lengths to meet that overarching corporate goal : delivering the goods on time	They are a tribute to Federal 's management which , since the company 's founding 16 years ago , has had its way with its work force -- an unusual feat in the contentious transportation industry
+2	That may soon change	This month , Federal 's 2,048 pilots , including some 961 acquired along with Tiger International Inc. in February , will decide whether to elect the powerful Air Line Pilots Association as their bargaining agent
+2	This month , Federal 's 2,048 pilots , including some 961 acquired along with Tiger International Inc. in February , will decide whether to elect the powerful Air Line Pilots Association as their bargaining agent	The election , which would bring the first major union to Federal 's U.S. operations , has pitted new hires against devoted veterans such as Mr. Brown
+1	A union , sooner or later , has to have an adversary , and it has to have a victory	In our formula , we do n't have any losers except the competition
+2	What managers really fear is that the pro-union movement could spread beyond the pilots	Under federal transportation law , a government mediator is attempting to reconcile the melding of Tiger 's job classifications into Federal's.Depending on the outcome , the merged company may face union elections this fall among airplane mechanics , ramp workers , stock clerks and flight dispatchers
+9	Under federal transportation law , a government mediator is attempting to reconcile the melding of Tiger 's job classifications into Federal 's	Depending on the outcome , the merged company may face union elections this fall among airplane mechanics , ramp workers , stock clerks and flight dispatchers
+8	That culture , carefully crafted by Mr. Smith , leaves little , if any , room for unions	Since founding the company , the charismatic Vietnam vet has fostered an ethos of combat
+6	Since founding the company , the charismatic Vietnam vet has fostered an ethos of combat	Flights are `` missions
+7	Flights are `` missions	Mr. Smith 's managers have , at times , been called `` Ho Chi Minh 's Guerrillas
+7	Flights are `` missions . '' Mr. Smith 's managers have , at times , been called `` Ho Chi Minh 's Guerrillas	The Bravo Zulu award , the Navy accolade for a `` job well done , '' is bestowed on Federal 's workers who surpass the call of duty
+7	Flights are `` missions . '' Mr. Smith 's managers have , at times , been called `` Ho Chi Minh 's Guerrillas . '' The Bravo Zulu award , the Navy accolade for a `` job well done , '' is bestowed on Federal 's workers who surpass the call of duty	Competitors are known as the `` enemy
+5	He also lets workers vent steam through an elaborate grievance procedure and , as a perk , fly free in empty cockpit seats	He gives pep talks in periodic `` family briefings '' beamed internationally on `` FXTV , '' the company 's own television network
+6	And , with many of his 70,000 workers , Mr. Smith 's damn-the-torpedoes attitude has caught on	James Cleveland , a courier who earned a Bravo Zulu for figuring out how to get a major customer 's 1,100-parcel-a-week load to its doorstep by 8 a.m. , considers himself far more than a courier
+2	James Cleveland , a courier who earned a Bravo Zulu for figuring out how to get a major customer 's 1,100-parcel-a-week load to its doorstep by 8 a.m. , considers himself far more than a courier	We do n't just hand the customer the package
+8	James Cleveland , a courier who earned a Bravo Zulu for figuring out how to get a major customer 's 1,100-parcel-a-week load to its doorstep by 8 a.m. , considers himself far more than a courier	We do n't just hand the customer the package
+2	We do n't just hand the customer the package	That 's just the beginning
+4	That 's just the beginning	In essence , we run the show
+2	This is America	Nobody has the right to tell me how much I can work
+8	but to keep its work force extraordinarily lean	The company deliberately understaffs , stretching employees ' schedules to the limit
+2	The operational freedom has also given Federal a leg up on archrival United Parcel Service Inc. , the nation 's largest employer of United Brotherhood of Teamsters members	UPS wo n't discuss its labor practices , but , according to Mr. Cleveland , a former UPS employee , and others , union work rules prohibit UPS drivers from doing more than carrying packages between customers and their vans
+2	but , according to Mr. Cleveland , a former UPS employee , and others , union work rules prohibit UPS drivers from doing more than carrying packages between customers and their vans	Because UPS drivers are n't permitted to load their own vehicles at the depot packages often get buried in the load and are delivered late
+2	Labor problems are the last thing Mr. Smith needs right now	Although the Tiger acquisition has brought Federal a long way toward becoming the global player it wants to be , it also has brought problems
+6	Although the Tiger acquisition has brought Federal a long way toward becoming the global player it wants to be , it also has brought problems	It more than doubled Federal 's long-term debt to $ 1.9 billion , thrust the company into unknown territory -- heavy cargo -- and suddenly expanded its landing rights to 21 countries from four
+2	Federal , on its own , had n't been doing very well overseas	It had hemorrhaged in its attempt to get into Asia , where treaty restrictions forced it to fly some planes half-empty on certain routes
+8	Federal , on its own , had n't been doing very well overseas	It had hemorrhaged in its attempt to get into Asia , where treaty restrictions forced it to fly some planes half-empty on certain routes
+7	It had hemorrhaged in its attempt to get into Asia , where treaty restrictions forced it to fly some planes half-empty on certain routes	On routes to South America , the company had no backup jets to ensure delivery when planes were grounded
+7	It had hemorrhaged in its attempt to get into Asia , where treaty restrictions forced it to fly some planes half-empty on certain routes.On routes to South America , the company had no backup jets to ensure delivery when planes were grounded	In Europe , business suffered as Federal bought several local companies , only to have the managers quit
+8	Earnings have plummeted , too , in each of the past three quarters	In the fiscal first period ended Aug. 31 , profit fell 54 % to $ 30.4 million , or 58 cents a share , mostly because of the Tiger merger
+8	Federal 's stock price , however , has held up well , driven in part by the general run-up of airline stocks	Since trading as low as $ 42.25 a share in May , Federal 's shares have rallied as high as $ 57.87 in New York Stock Exchange composite trading
+5	Since trading as low as $ 42.25 a share in May , Federal 's shares have rallied as high as $ 57.87 in New York Stock Exchange composite trading	They closed Friday at $ 53.25 , down 50 cents on the day
+2	There 's a certain irony in the fact that Federal Express faces its first union problems as a result of its Tiger purchase	Tiger itself was founded by a band of gungho airmen who had airlifted supplies `` over the Hump '' from India to China during World War II
+9	Tiger itself was founded by a band of gungho airmen who had airlifted supplies `` over the Hump '' from India to China during World War II	In the early 1970s , Mr. Smith modeled his fledgling company on Tiger 's innovation of hub-and-spoke and containerized-cargo operations
+8	it will pay off eventually	Federal 's earnings to improve again in its fiscal third quarter ending Feb. 28
+1	Analysts expect Federal 's earnings to improve again in its fiscal third quarter ending Feb. 28 , when the company should begin benefiting from Tiger 's extra flights , back-up planes and landing rights	Until then , they expect the cost of integrating the two carriers to continue crimping profits
+2	For now , the union issue is the most nettlesome of Federal 's Tiger problems	Although encouraging dialogue between managers and workers , Mr. Smith does n't countenance what he considers insubordination
+6	Although encouraging dialogue between managers and workers , Mr. Smith does n't countenance what he considers insubordination	When a large group of pilots once signed petitions opposing work-rule and compensation changes , he called a meeting in a company hangar and dressed them down for challenging his authority
+2	That sort of approach , however , has n't worked since the addition of Tiger	Its 6,500 workers , who had battled Tiger 's management for years over givebacks , were union members until the day of the merger , when most of their unions were automatically decertified
+1	Soon after the merger , moreover , Federal 's management asked Tiger 's pilots to sign an agreement stating that they could be fired any time , without cause or notice	When the pilots refused , the company retracted it
+2	Mr. Smith angered Federal 's pilots , too	In his haste to seal the deal with Tiger Chairman Saul Steinberg last August , Mr. Smith ignored a promise that he had made to his own pilots three years ago : that any fliers acquired in future mergers would be `` end-tailed '' -- put at the bottom of the pilot seniority list that determines work schedules , pay and career options
+4	that any fliers acquired in future mergers would be `` end-tailed '' -- put at the bottom of the pilot seniority list that determines work schedules , pay and career options	The Tiger merger agreement stipulated that the lists be combined on the basis of tenure
+8	his charisma and popularity among the many former military fliers could be tough to beat	A lot of people are identifying a vote for representation as a vote against Fred Smith
+5	Mr. Smith and other top Federal executives have met with Tiger workers in Los Angeles , Ohio , New York , Alaska , Asia and Europe	Recently , they have appeared every few weeks in talk-show type videos , countering pro-union arguments
+6	Recently , they have appeared every few weeks in talk-show type videos , countering pro-union arguments	In one video , Mr. Smith defended his agreement to merge the pilot-seniority lists
+8	In one video , Mr. Smith defended his agreement to merge the pilot-seniority lists	He said Mr. Steinberg had insisted that the merger talks move quickly
+1	our contract with our pilots says that we will manage our fleet operations with their advice	It does n't give any particular group the ability to veto change
+6	Already , the fight has been costly	The seniority-list controversy , along with the job-classification dispute , has been turned over to the mediator
+3	Already , the fight has been costly	The seniority-list controversy , along with the job-classification dispute , has been turned over to the mediator
+6	The issue has also cost Federal management a lot of good will among its old pilots	They were willing to mistreat us because we had n't shown any moxie , any resistance , '' says William Queenan , a DC-10 pilot and 14-year Federal veteran
+7	They were willing to mistreat us because we had n't shown any moxie , any resistance , '' says William Queenan , a DC-10 pilot and 14-year Federal veteran	Adds John Poag , a 727 captain and past chairman of the company-sponsored Flight Advisory Board : `` They 've made all these magnanimous gestures to the Flying Tiger pilots , and for us , nothing
+2	Such animosity could prove pivotal in the union vote	A large majority of the 961 former Tiger fliers support the union , according to a union study.But though most of the 1,087 Federal pilots are believed opposed , it is unclear just how much their loyalty to Mr. Smith has been eroded
+6	The fight has turned ugly and , among pilots at least , has shattered the esprit de corps that Mr. Smith worked so hard to build	Anti-union pilots have held ballot-burning parties
+5	Anti-union pilots have held ballot-burning parties	Some younger pilots say they have had to endure anti-union harangues by senior pilots while flying across the country
+6	And for now , at least , the competition is n't the only enemy	he has received two anonymous death threats and been challenged to a fight with tire irons by a colleague
+8	he has received two anonymous death threats and been challenged to a fight with tire irons by a colleague	The pilots are either for us or extremely against us
+1	Harsco Corp. said it obtained a $ 33.1 million export order for armored recovery vehicles and related support equipment	Harsco declined to say what country placed the order
+8	on charges of which a jury had acquitted him	In 1983 , Mr. Hastings was found not guilty of accepting a $ 150,000 bribe in a case before him , the central charge on which the Senate convicted him
+1	Conviction on any single impeachment article was enough to remove Judge Hastings from office	He was found not guilty of three charges , involving accusations that he had improperly disclosed information about a sensitive , government investigation
+5	He was found not guilty of three charges , involving accusations that he had improperly disclosed information about a sensitive , government investigation	The Senate did n't vote on six lesser charges
+9	Mr. Hastings faced the senators and sat impassively during the first two roll-call votes , then quickly left the chamber	In an impromptu news conference on the Capitol steps , he denounced the senators ' action
+5	Their opinion is devoid of the wisdom of the forefathers ' teaching regarding impeachment	For the future he would run for governor of Florida
+2	When last we left him , FBI Agent Nick Mancuso had solved a murder mystery , unraveled a Washington political scandal , and racked up some pretty good ratings numbers in the miniseries `` Favorite Son	What next for the crusty FBI agent with the heart of gold
+7	a nun raising some lovable orphans	A den mother raising some lovable teen models
+7	a nun raising some lovable orphans.A den mother raising some lovable teen models	A bunch of tans and bathing suits posing as lovable lifeguards
+8	In that context , Robert Loggia 's riveting performance as the unlovable -- even crotchety -- veteran agent seems a better franchise for a series than most	Week by week on `` Mancuso FBI '' ( NBC , Fridays , 10 p.m . ET ) , he pokes around the crime styles of the rich , famous and powerful of the Washington scene -- a loose cannon on deck at the FBI
+6	Over the first few weeks , `` Mancuso FBI '' has sprung straight from the headlines , which is either a commendable stab at topicality , or a lack of imagination , or both	The opening show featured a secretary of defense designate accused of womanizing ( a la John Tower )
+9	The opening show featured a secretary of defense designate accused of womanizing ( a la John Tower )	When his secretary is found floating dead in the pol 's pool , Mancuso is called in to investigate
+5	Last week , a young black girl claimed she had been raped by a white police officer ( a la Tawana Brawley	In this week 's show , there 's an unsafe nuclear weaponsmaking facility ( a la Rocky Flats
+2	when he was assigned to the civil rights movement back in the 1960s	He was n't protecting the Freedom Marchers
+8	when he was assigned to the civil rights movement back in the 1960s	He was n't protecting the Freedom Marchers
+4	He was n't protecting the Freedom Marchers	he was tailing them as subversives
+2	he was tailing them as subversives	This is not the `` Mississippi Burning '' scenario that thrills his young colleagues
+8	Back in 1964 , the FBI had five black agents	Three were chauffeurs for J. Edgar Hoover , and two cleaned his house
+6	At the core of Mr. Loggia 's Mancuso is his world-weary truculence	He describes a reporter as `` Miss First Amendment
+7	He describes a reporter as `` Miss First Amendment	He describes a drowned corpse as `` Esther Williams
+8	Yet for all his cynicism , he 's at heart a closet idealist , a softy with a secret crush on truth , justice and the American Way	He 's the kind of guy who rescues trampled flags
+8	it also has a major flaw : It 's wildly overwritten	Executive Producers Steve Sohmer and Jeff Bleckner ( and writer/producers Ken Solarz and Steve Bello ) have revved this show up to the breaking point
+7	To start , there 's always a crisis -- and someone always worries , `` What if the press gets a hold of this	At least once an episode we see protestors marching around screaming slogans
+7	To start , there 's always a crisis -- and someone always worries , `` What if the press gets a hold of this ? '' At least once an episode we see protestors marching around screaming slogans	At least once Mancuso 's boss yells `` In here -- now , '' and proceeds to dress his investigator down : `` You are a dinosaur . . . a hangover in a $ 10 suit . . . One more word and you are out on a park bench , mister
+8	In fact , throughout `` Mancuso FBI , '' we do n't get words or lines -- we get speeches	Witnesses shout , scream , pontificate : `` . . . a dream that the planet could be saved from itself and from the sadistic dumb creatures who try to tear down every decent man who raises his voice
+2	How the hell can you live with yourself ?	You twist people 's trust
+7	You twist people 's trust	You built your career on prejudice and hate
+2	You built your career on prejudice and hate	The scars will be here years after the polls close
+2	Where the hell are they gon na live when people like you turn the world into a big toxic waste dump	You 're the real criminal here . . . and what you did was n't just a murder -- it was a crime against humanity
+2	Now that 's advice the writers should take to heart	They have a series with a good character , some interesting , even occasionally surprising plot lines , and they 're ruining it
+5	Why , when a key witness disappears , does Mancuso trash her apartment , tearing down drapes , smashing walls	It 's a bizarre and totally inappropriate reaction
+5	It 's a bizarre and totally inappropriate reaction	That 's not plot
+7	That 's not plot	That 's not character
+4	That 's not character	That 's hyperventilating
+2	but he 's too choked up to get the words out	He bangs on the piece of paper in frustration , then turns and walks away
+9	but he 's too choked up to get the words out	He bangs on the piece of paper in frustration , then turns and walks away
+8	He bangs on the piece of paper in frustration , then turns and walks away	It was a profoundly moving moment for series television , and Robert Loggia 's acting resonated in the silence
+2	There 's a pretty good program inside all the noise of `` Mancuso FBI	If the show 's creators could just let themselves be quiet for a little , they might just hear it
+1	Investment letters now abound , I really like to read them	If I peruse enough , I 've found I 've no time left to heed them
+2	Tana , which holds properties in 17 oil and gas fields in south Texas , will provide Texaco with mostly gas reserves	The fields contain recoverable reserves of 435 billion cubic feet of natural gas and four million barrels of oil
+6	Texaco has also been attempting to sell oil properties	At least two years ago , the company put 60 million barrels of oil reserves on the block
+2	At least two years ago , the company put 60 million barrels of oil reserves on the block	They were either too small or uneconomic to maintain
+1	They were either too small or uneconomic to maintain	Not all of those parcels have yet been sold
+1	Texaco , like many other oil companies , has been struggling to replace its falling oil and gas reserves	Texaco 's situation had become particularly complex because much of its effort had for years been focused on its brawl with Pennzoil and then on New York investor Carl C. Icahn 's attempt to take over the company
+1	Imports rose sharply in the period , to $ 5.19 billion from $ 4.04 billion a year earlier , a change of 28 %	Exports during the period were $ 7.01 billion , 2.6 % below $ 7.20 billion a year ago
+10	Imports rose sharply in the period , to $ 5.19 billion from $ 4.04 billion a year earlier , a change of 28 %	Exports during the period were $ 7.01 billion , 2.6 % below $ 7.20 billion a year ago
+2	AG is hardly alone in its anxiety	A rambunctious shake-up is quickly reshaping Europe 's once-stately insurance business
+2	A rambunctious shake-up is quickly reshaping Europe 's once-stately insurance business	Worried by European Community directives that will remove many of the barriers to cross-border insurance services , starting in mid-1990 , insurers are rushing to find partners and preparing for price wars
+10	A rambunctious shake-up is quickly reshaping Europe 's once-stately insurance business	Worried by European Community directives that will remove many of the barriers to cross-border insurance services , starting in mid-1990 , insurers are rushing to find partners and preparing for price wars
+6	insurers are rushing to find partners and preparing for price wars	In West Germany and the Netherlands , insurers are flirting with banks
+7	In West Germany and the Netherlands , insurers are flirting with banks	In France , Suez and Axa-Midi Assurances S.A. both have been on the prowl for giant acquisitions
+8	In France , Suez and Axa-Midi Assurances S.A. both have been on the prowl for giant acquisitions	Suez last month acquired control of Groupe Victoire , the sixth-largest European insurance company , after a takeover battle with Cie.Industrielle
+2	Any raider would find it hard to crack AG 's battlements	A `` syndicate '' of shareholders holds just under 50 % of AG and members have agreed to give one another the right of first refusal should they sell any AG shares
+2	Even without bid talk , this year 's surge in prices for Brussels real estate has excited interest in AG	those holdings constitute the third-biggest real-estate portfolio in Belgium
+9	President Bush 's national security adviser , Lt. Gen. Brent Scowcroft , came into office in January intent on making the NSC staff leaner and more disciplined than it had been during the Reagan administration	Gen. Scowcroft was a member of the Tower Commission , which investigated the Iran-Contra affair
+2	Gen. Scowcroft was a member of the Tower Commission , which investigated the Iran-Contra affair	He was all too aware of how a large , inadequately supervised NSC staff had spun out of control and nearly wrecked President Reagan 's second term
+2	However , the Panama episode has raised questions about whether the NSC staff is sufficiently big , diverse and powerful to coordinate U.S. policy on tough issues	During the coup attempt and its aftermath , NSC staffers were `` stretched very thin
+2	During the coup attempt and its aftermath , NSC staffers were `` stretched very thin	It 's a very small shop
+2	but is weighing that possibility	The NSC staff `` does n't have the horsepower that is required to have an effective interagency process
+2	The NSC staff `` does n't have the horsepower that is required to have an effective interagency process	that by design it has greatly diminished , both in a physical sense and in a procedural sense , the role of the NSC
+8	But one clear problem during the coup attempt was that the NSC staffer most experienced in Latin America , Everett Briggs , was gone	He had just resigned , at least in part because of a feud with Assistant Secretary of State Bernard Aronson over the administration 's policy on Panama and support for Nicaragua 's Contra rebels
+5	Mr. Tomlin tried to steer to Sperry a multimillion dollar contract to computerize maintenance of certain Navy electronics equiment	Mr. Tomlin , among other things , illegally provided Mr. Lavelle with inside information and documents intended to give Sperry an unfair advantage in the competition
+7	He sent out thousands of news releases from his Kensington , Md. , office	He plugged the contest on Larry King 's radio show , on Pat Sajak 's television show and on the C-SPAN cable television network
+7	He sent out thousands of news releases from his Kensington , Md. , office.He plugged the contest on Larry King 's radio show , on Pat Sajak 's television show and on the C-SPAN cable television network	He talked about it in every speech he made
+2	Mr. Lesko figured he would be flooded with entries by now	After all we 've got like 15 million bureaucrats
+6	that he has n't had much luck generating free publicity for his contest	Newspapers , including this one , have generally ignored his news releases
+7	Newspapers , including this one , have generally ignored his news releases	Talk show hosts quickly change the topic
+8	But Mr. Lesko 's staff is beginning to wonder whether there is n't some larger phenomenon foiling the contest	Is the government not helping anybody ? '' asks Toni Murray , an assistant to Mr. Lesko
+4	Mr. Lesko himself is n't yet prepared to accept that explanation	People hate to write , '' he says
+4	People hate to write	Maybe people do n't believe I want to give this money away
+1	Maybe Americans are just so annoyed with government that they are n't interested in admitting that bureaucrats come in handy once in a while	If he sponsored a contest on how a bureaucrat mishandled something , Mr. Lesko admits , `` I 'd get 5,000 entries
+8	it `` has had and will continue to have contacts with other manufacturers	Among the possible suitors is Italy 's Fiat S.p.A
+2	But the talks on a heavy truck alliance apparently did n't go far	that officials of Saab 's highly profitable Scania truck operation balked at surrendering any of their autonomy
+2	the most likely suitor for Saab now is Fiat	Saab and Fiat have worked together in the past
+2	Ford faces an uphill fight for Jaguar , however	they expect to have a friendly alliance with GM wrapped up by the end of the month
+2	since the company 's gilded brand image would give Ford a badly needed leg up in the high end of the luxury markets in both Europe and the U.S	Last week , Ford encountered a setback in its effort to broaden its U.S. luxury offerings when it was forced to abandon a four-year-old effort to market its German-built Scorpio sedan in the U.S. as a luxury import under the Merkur brand name
+1	and Jaguar shares moved up 19 pence to 696 pence ( $ 11 )	On the U.S. over-the-counter market , Jaguar 's American depositary receipts rose 12.5 cents to $ 11.125
+5	and Jaguar shares moved up 19 pence to 696 pence ( $ 11 )	On the U.S. over-the-counter market , Jaguar 's American depositary receipts rose 12.5 cents to $ 11.125
+10	The Dallas Cowboys are looking at a long-yardage situation , struggling to pull ahead of the Atlanta Falcons	Up in his stadium box , their new and controversial owner , Jerral `` Jerry '' Jones , watches anxiously as the team bounds up to the scrimmage line
+2	Mr. Jones takes heart	There in the center of the pack is quarterback Troy Aikman , the key to the Cowboys ' comeback strategy
+5	So key , in fact , that Mr. Jones signed him in April for $ 11.4 million over the next six years	He 's a genuine Wheaties-box athlete
+2	With three minutes left on the clock , Mr. Aikman takes the snap , steps back and fires a 21-yard pass -- straight into the hands of an Atlanta defensive back	The crowd groans , Mr. Jones shakes his head , the Cowboys lose the game
+9	the Cowboys lose the game	A few days after that Sept. 17 game , Mr. Aikman broke a finger
+8	For Mr. Jones , losing his quarterback temporarily was just the latest in a string of setbacks that has beset the Dallas Cowboys	Once fat and happy , the Cowboys now are losing games , fans and money
+6	Once fat and happy , the Cowboys now are losing games , fans and money	Last year , the team ended up $ 2 million in the red on $ 30 million in revenue
+2	These days , he is n't alone	Nearly half the owners of the 28 National Football League teams are losing money
+5	Last year , the top 12 players on each NFL team took home an average $ 536,000 , a figure comparable to baseball and higher than in basketball	First-round draft picks have done even better
+1	Last year , the top 12 players on each NFL team took home an average $ 536,000 , a figure comparable to baseball and higher than in basketball	First-round draft picks have done even better
+8	First-round draft picks have done even better	Average salaries and bonuses for them rose to $ 685,000 this year , up 44 % from 1987
+8	It 's a vicious circle	One team pays so much and the other pays more
+6	All this is causing convulsions in professional football	Owners , largely complacent in the past , are now almost desperately looking for ways to lower costs and raise revenue
+0	First , he unceremoniously sacked Tom Landry	In Dallas , Mr. Landry has a standing just shy of sainthood
+6	Anti-Jones sentiment flooded the local press	A crude obnoxious hick , '' said one writer
+7	A crude obnoxious hick , '' said one writer	a real oink , '' said another
+7	A crude obnoxious hick , '' said one writer ; `` a real oink , '' said another	Who in the hell does he think he is ? '' wrote a third
+2	For Mr. Jones , it was just the beginning	He quickly cut the team 's bloated administrative staff by half , shut down a Cowboys-owned dance academy and , in July , announced plans to sell Valley Ranch , the team 's 30-acre practice camp and the most lavish training facility in the NFL
+5	the team 's 30-acre practice camp and the most lavish training facility in the NFL	Mr. Jones calls the ranch `` the Pentagon of Sportdom
+2	Mr. Jones calls the ranch `` the Pentagon of Sportdom	It is a maze of halls that connects film rooms , elaborate spas and weight-training centers that testify to a richer , more free-spending era
+5	It is a maze of halls that connects film rooms , elaborate spas and weight-training centers that testify to a richer , more free-spending era	He likes to tell the yarn of how he got lost on the expansive ranch during an early visit , took refuge in an office and called the front desk for help
+8	and called the front desk for help	I said , ` Somebody come get me
+2	With a new day dawning on the sport , Mr. Jones does n't see a place for this sort of luxury	It 's just not cost efficient
+8	It 's just not cost efficient	The place costs nearly $ 2 million a year to maintain
+2	And as for Tom Landry , well he had played out his winning years	After posting losing seasons in each of the last three years , the Cowboys needed a change
+8	Football has long been Mr. Jones 's passion , both on and off the field	An Arkansas native , he started at guard on the undefeated 1964 University of Arkansas team that won a national championship
+9	An Arkansas native , he started at guard on the undefeated 1964 University of Arkansas team that won a national championship	After college , he worked at his father 's insurance company in Little Rock , and in 1966 led an aborted attempt to buy the San Diego Chargers
+9	After college , he worked at his father 's insurance company in Little Rock	Years later , with cash from the sale of the insurance company , he founded Arkoma Production Corp. , an oil and gas exploration company based in Little Rock
+8	So it was n't surprising that Mr. Jones returned to his Arkansas roots when he went looking for a replacement for Mr. Landry	He tapped Jimmy Johnson , a teammate on the 1964 University of Arkansas squad and the head coach at the University of Miami
+5	Whatever Mr. Johnson 's talents , in the hearts and minds of many Dallas fans , he is no Tom Landry	Seven games ( and , after a loss to the Kansas City Chiefs yesterday , seven losses ) into the season , the `` new '' Cowboys are n't doing any better than the old
+5	In fact , the last time they played this badly was in 1960 , their opening season	Average attendance at their games , about 49,000 last year , continues flat
+6	Mr. Jones is attacking the problem on several fronts	He continues to reshuffle the team , trading famed running back Herschel Walker to the Minnesota Vikings this month for a slew of players and future draft picks
+7	He continues to reshuffle the team , trading famed running back Herschel Walker to the Minnesota Vikings this month for a slew of players and future draft picks	To try to draw more fans , he has dropped end-zone ticket prices from $ 25 to $ 19
+8	It 's simple	If we did n't increase prices , we 'd be in the red
+2	The sales job seems to be paying off	When he bought the team , only six of the suites had been sold
+1	When he bought the team , only six of the suites had been sold	Today , 30 have
+9	When he bought the team , only six of the suites had been sold	Today , 30 have
+6	The biggest is the NFL 's contract with national television for broadcast of the league 's games	Last year , the Cowboys ' share of that pie came to $ 17.6 million
+5	The team additionally earns between $ 2 million and $ 4 million for local radio and television broadcast rights	Mr. Jones is currently trying to jack up the price for those local rights
+5	Mr. Jones is resigned to the hefty salaries he pays his players these days	He calls the contracts `` critical to winning in the NFL '' and has played his part in the bidding wars
+8	and has played his part in the bidding wars	Besides signing Mr. Aikman to a sizable contract , Mr. Jones has agreed to pay rookie quarterback Steve Walsh $ 4.1 million over the next four years
+2	This wage inflation is bleeding the NFL dry	Soon , only large corporations will be able to afford to buy and run football teams
+8	To tackle the problem , NFL owners have proposed setting a rookie wage scale to try to rein in salaries	but each player would apparently be paid a base salary keyed to his position and ability
+5	but each player would apparently be paid a base salary keyed to his position and ability	Bonuses would be paid based on playing time and performance
+6	The owners are trying to boost profit in other ways , too	Many have launched promotions to attract new fans and are renegotiating dated stadium contracts
+2	and are renegotiating dated stadium contracts	Most of the owners must pay up to 10 % of gross ticket sales for leases on stadiums they say are either too small or too old
+2	We have the worst lease in the NFL	We 're in a metro area with millions of Bear fans , and only a small number can be accommodated
+2	We 're in a metro area with millions of Bear fans , and only a small number can be accommodated	When the lease expires in 1999 It 's got to be changed
+1	The current contract pays the NFL $ 1.4 billion	they expect the league to demand a 50 % increase
+8	The changes have n't come easy	Like the game of professional football , the NFL organization itself is in turmoil
+2	Like the game of professional football , the NFL organization itself is in turmoil	The new breed of team owner , Mr. Jones included , has been fighting the NFL bureaucracy for a greater say in league affairs , and the battle has produced a form of organizational gridlock
+6	and the battle has produced a form of organizational gridlock	In July , 11 NFL owners , almost all of them new , blocked an effort to install Jim Finks as a replacement for retiring league commissioner Pete Rozelle
+2	In July , 11 NFL owners , almost all of them new , blocked an effort to install Jim Finks as a replacement for retiring league commissioner Pete Rozelle	Mr. Finks is perceived by some owners as a standard-bearer for the Old Guard
+2	Earlier this month , another effort to choose a commissioner failed	The owners meet again tomorrow
+8	and his work style seems to support that	He puts in busy six-day weeks ( excluding game days ) , and on one recent afternoon fielded questions , in the course of an hour , from a TV producer , his luxury-suite marketing manager , a disgruntled customer and a roomful of Arkansas reporters
+5	He puts in busy six-day weeks	To keep his schedule on track , he flies two personal secretaries in from Little Rock to augment his staff in Dallas
+8	When I made this investment , I made it on a lifetime basis	I 'm not here to make money by reselling the team later on
+2	I 'm not here to make money by reselling the team later on	they ca n't be in the future
+8	Besides , to a large extent , Mr. Jones may already be getting what he wants out of the team , even though it keeps losing	Owning the Cowboys has bought him entree to a glitzy life that drilling for oil in Arkansas just did n't provide
+6	Owning the Cowboys has bought him entree to a glitzy life that drilling for oil in Arkansas just did n't provide	There is the new private jet , the platoon of assistants , invitations to the best parties , and television appearances on shows such as `` Prime Time Live
+5	There is the new private jet , the platoon of assistants , invitations to the best parties , and television appearances on shows such as `` Prime Time Live	A few weeks ago , Mr. Jones even entertained Elizabeth Taylor in his private suite at Texas Stadium
+10	How interestingly clever of Robert Goldberg to use the form of pretend advocacy journalism to explain his perception of `` Days of Rage '' in his television critique ( Leisure & Arts , Sept 11	He chastises Jo Franklin-Trout for her inept presentation of advocacy journalism , judging her project as `` intellectually slipshod
+1	One example he gives : `` She did n't ask '' ( why the Palestinian children are soldiers throwing stones	Really now , did she have to ask
+5	Of course the Palestinians complain about their treatment	of course the Israelis feel put upon
+1	Of course the Palestinians complain about their treatment	of course the Israelis feel put upon
+2	But his complaint that `` Days of Rage '' does n't contain balanced comments from Israelis about how badly the Palestinians are behaving is irrelevant	It 's like doing a documentary on apartheid and insisting that equal time be given to how terrific white South Africans are
+2	Well , `` Days of Rage '' airing with before-and-after packaging , and after repeated delays , was a beginning	Every issue is multisided
+2	Last week , Budget Director Richard Darman structured the $ 16.1 billion spending reduction , half of which must come from defense , to `` impose a little bit more discipline '' by applying cuts to each individual program , project or activity in the budget	That would give agencies `` less ability . . . to fudge over things
+6	But some Wall Street executives argue that such fears are unwarranted	In a July 6 letter to the Senate Securities Subcommittee , First Boston Corp. argued that the fact that no retail brokerage firm failed during the 1987 market crash demonstrates that current rules are adequate
+6	Sources in the industry and on Capitol Hill say a compromise that would placate the industry while addressing the SEC 's concerns may be possible	An aide to the Senate Securities Subcommittee says some legislators support the concept of risk disclosure , but adds : `` nobody is wedded to the language in the bill
+8	Let me immediately put limits to whatever nostalgic notions that may intimate	Those `` people '' to whom I refer are not some heroic , indecipherable quantity
+4	Those `` people '' to whom I refer are not some heroic , indecipherable quantity	they are artists , critics , taxi drivers , grandmothers , even some employees of the Ministry of Culture
+2	In fact , the generation of painters growing into maturity right now works with such profoundly held humanist assumptions and such passionate commitment to moral and ethical principles that it makes Che Guevara 's famous linkages of art , idealism and revolution seem modest	It is on behalf of these people , and out of my real respect for them , that I am responding to Mr. Asman 's opinions of their country
+2	Mr. Asman should make distinctions among Fidel , the army and the Cuban people	They are not interchangeable
+2	They are not interchangeable , since they are motivated to act based on their own circumstances	It is naivete to equate a government 's policies with the will of the people
+2	We badly need to follow fact rather than the rhetoric of conventional wisdom	Without this basic level of attention to reality , our policies on Cuba will continue to be as counterproductive as they have for 30 years
+0	From my own point of view we deny ourselves access to things we hold dear	There is no rational justification for such behavior
+2	ENGRAPH INC. recently reported third-quarter earnings , which were mistakenly shown in the Quarterly Earnings Surprises table in last Tuesday 's edition to be lower than the average of analysts ' estimates	Zacks Investment Research did n't adjust one analyst 's estimate for a stock split , which therefore was artificially high
+4	Zacks Investment Research did n't adjust one analyst 's estimate for a stock split , which therefore was artificially high	Engraph 's third-quarter net income of 15 cents a share actually was 7 % higher than the adjusted average of estimates
+5	that more than $ 50 million of New York City general obligation bonds were put up for sale Friday alone	While that represents a small percentage of the city 's public debt outstanding , Friday 's selling followed a weeklong effort to unload the bonds by a broad spectrum of institutional and individual investors
+8	I 've never seen so many { New York City } G.O . 's up for sale	Every broker has blocks of every size and maturity
+2	many expected a much smaller amount of bonds to be sold	The fact that the city will issue such a large amount of debt was interpreted as a sign that New York 's budgetary problems are more serious than had been expected
+5	The fact that the city will issue such a large amount of debt was interpreted as a sign that New York 's budgetary problems are more serious than had been expected	New York , one of the nation 's largest issuers of tax-exempt bonds , sold $ 750 million of municipal bonds just a few weeks ago
+5	Meanwhile , tax revenues are falling while the city 's spending needs are expanding	Rumors persisted last week that New York 's credit ratings are at risk
+8	The weakness in New York City bonds follows a warning from New York state Comptroller Edward Regan that the 1987 crash seriously weakened the city 's economy	In a study , the comptroller said , `` The city 's glory days are over
+5	In a study , the comptroller said , `` The city 's glory days are over	Mr. Regan warned mayoral candidates `` to be prepared for limited options and constraints on service increases to address the city 's problems in the next few years , due to the now-evident weakening in the New York City economy
+2	that investors ' concerns about the city 's financial health are `` unwarranted given our proven ability to manage ourselves	He charges the city 's critics with spreading `` unfounded emotional rhetoric
+0	And the controversy has led to uncertainty about the outcome of the election	Until last week , Mr. Dinkins was considered a shoo-in
+1	After the announcement of the bankruptcy filing , Qintex Entertainment stock sank $ 2.625 in over-the-counter trading to close at $ 1.50 on heavy volume of more than 1.4 million shares	The stock traded as high as $ 10 this past summer
+2	Jonathan Lloyd , executive vice president and chief financial officer of Qintex Entertainment , said Qintex Entertainment was forced to file for protection to avoid going into default under its agreement with MCA	The $ 5.9 million payment was due Oct. 1 and the deadline for default was Oct. 19
+5	if Qintex had defaulted it could have been required to repay $ 92 million in debt under its loan agreements	that as a result of Qintex 's failure to make the required payment it was terminating the distribution agreement on `` The New Leave It to Beaver '' as well as other MCA properties
+2	They continued to represent that to the board	We were reassured they would stand behind the company
+2	that his company had opposed the Chapter 11 filing	the company believed Qintex Entertainment 's financial problems could have been resolved by other means
+6	The report of the bankruptcy filing stunned Hollywood executives and investors	It 's a shocker , '' said Joseph Di Lillo , chairman of Drake Capital Securities , a brokerage firm that has an investment in Qintex Entertainment
+2	It 's a shocker	Qintex Australia was `` going to pay more than $ 1 billion for MGM/UA and then they could n't come up with the far smaller sum of $ 5.9 million
+5	The announcement seemed to further damp prospects that talks between Qintex Australia and MGM/UA might be revived	that MGM/UA recently contacted Rupert Murdoch 's News Corp to see if the company was still interested
+8	However , `` we are n't currently doing anything	It is n't a current topic of conversation at the company
+5	the ministry did n't in any way suggest to Japanese banks that they stay out of the UAL Corp. leveraged buy-out	The ministry has never even suggested that Japanese banks be cautious about leveraged buy-outs in general
+2	The ministry has never even suggested that Japanese banks be cautious about leveraged buy-outs in general	There are no facts { behind the assertions } that we sent any kind of signal
+6	The comments were the ministry 's first detailed public statement on the subject , and reflect the ministry 's concern that foreigners will think Japan is using its tremendous financial power to control events in foreign markets	A number of accounts of the events leading to the 190 point drop in New York stock prices on Oct. 13 accused the ministry of pulling the plug on the UAL deal for one reason or another
+5	Each Japanese bank has its own judgment on the profits and risks in that { UAL } deal	They are becoming more independent
+4	that the finance ministry played any part in the bank 's decision	We made our own decision
+2	Still , Mr. Utsumi may have a hard time convincing market analysts who have rightly or wrongly believed that the ministry played a role in orchestrating recent moves by Japanese banks	All week there has been much speculation in financial circles in Tokyo and abroad about the ministry 's real position
+2	The { ministry } thinks the banks do n't know what they are doing , that they have very little idea how to cope with risk	The { ministry } wants to see the Japanese banks pull in their horns '' on leveraged buy-outs
+2	they have a hard time believing that commercial considerations were the only reason	Japanese banks are under `` political pressure '' as well
+6	Clearly , some financial authorities are concerned about the Japanese banks role in leveraged buy-outs	At a news conference this week , Bank of Japan Gov . Satoshi Sumita cautioned banks to take a `` prudent '' stance regarding highly leveraged deals
+0	At a news conference this week , Bank of Japan Gov . Satoshi Sumita cautioned banks to take a `` prudent '' stance regarding highly leveraged deals	Despite Mr. Sumita 's statements , it is the Finance Ministry , not the central bank , that makes policy decisions
+2	While recent events may cool some of the leveraged buy-out fever , Japanese banks are n't likely to walk away from the game	Despite the risks , the deals can be an attractive way for Japanese banks to increase their presence in the U.S. market
+5	Despite the risks , the deals can be an attractive way for Japanese banks to increase their presence in the U.S. market	Flush with cash at home , but with fewer customers to lend to , leading banks are eager to expand overseas
+8	We are n't Philip Morris Cos	that because Seita 's profits are limited by government-controlled cigarette prices , he does n't have the cash to diversify as heavily into food and drink as the U.S. concern has done
+2	Instead he is looking for ways to exploit France 's network of 39,000 tobacco agents , most of them cafes	While Seita does n't own the French tabacs , its close alliance with them offers distribution possibilities
+8	One proposal is to introduce a new payment system for parking in Paris	Instead of paying for parking by putting money in the existing machines drivers would be able to buy electronic cards in local tobacco shops
+9	Instead of paying for parking by putting money in the existing machines drivers would be able to buy electronic cards in local tobacco shops	Once activated , the card would sit in the car 's window , showing traffic wardens how much time the motorist could remain
+9	Once activated , the card would sit in the car 's window	When the motorist returned to his car he could turn the card off
+6	And Seita is considering further diversification	It wanted to buy RJR Nabisco Inc. 's French cracker subsidiary , Belin
+7	It wanted to buy RJR Nabisco Inc. 's French cracker subsidiary , Belin	It currently is considering bidding for Swedish Match Co
+2	It also is trying to shore up its tobacco business	Brown-tobacco cigarettes such as Gauloises now make up just 40 % of the French tobacco market
+8	Brown-tobacco cigarettes such as Gauloises now make up just 40 % of the French tobacco market , half the level of about two decades ago	While Seita retains a manufacturing monopoly in France , it is being hurt by rising imports
+2	their actions were justified by the desire to save the lives of unborn children	Under a 1981 Missouri law , persons accused of some crimes , including trespassing , may offer a defense that their actions were justified `` as an emergency measure to avoid an imminent public or private injury
+2	Under a 1981 Missouri law , persons accused of some crimes , including trespassing , may offer a defense that their actions were justified `` as an emergency measure to avoid an imminent public or private injury	Relying on the preamble 's statement that a fetus is an unborn child , the two St. Louis County Circuit Court judges in August accepted the justification that the abortion clinic protesters were trying to save lives
+2	that if abortion foes succeed in using the preamble to escape prosecution for trespass , `` This will shut down abortion in Missouri	There 's no risk to the protesters , and you ca n't keep an abortion clinic open if there are 3,000 people standing outside every day
+2	In terms of sheer brutality , the Somali regime of Siad Barre may rank as No . 1 in the world	The only reason that Somalia remains in obscurity is numbers
+2	The only reason that Somalia remains in obscurity is numbers : a sparsely populated wasteland of 8.5 million people spread out over an expanse nearly the size of Texas	The Barre dictatorship simply is limited in the amount of people it can torture and kill
+4	Guns were never used	Each man was stabbed to death with a large knife
+5	that they are part of a wider drama affecting the strategic positions of both the U.S. and the Soviet Union on the horn of Africa	Not since the late 1970s has the horn been so up for grabs as it has suddenly become in just the past few weeks
+8	Mr. Barre 's rule is crumbling fast	Mutinies wrack his armed forces ( really just an armed gang ) , which control less than half the country
+7	Mutinies wrack his armed forces	Inflation is at record levels
+7	Mutinies wrack his armed forces ( really just an armed gang ) , which control less than half the country.Inflation is at record levels	Desperate , he has called in the Libyans to help fight the rebels of the Somali National Movement in the north
+7	Mutinies wrack his armed forces ( really just an armed gang ) , which control less than half the country.Inflation is at record levels.Desperate , he has called in the Libyans to help fight the rebels of the Somali National Movement in the north , which is only one of several groups picking away at the regime in the capital of Mogadishu	President Barre has a power base , composed only of his minority Mareham clan , that according to observers is `` narrowing
+2	Mr. Mengistu is in an increasingly weak position	Half his army is tied down defending the northern city of Asmara from the Eritreans
+2	The weaker he gets , the more he turns toward the U.S. for help	While the Tigreans are communists , like the Eritreans they are among the most anti-Soviet guerrillas in the world
+2	But this is not enough	Because the U.S. is still perceived to be tied to Mr. Barre , when he goes the runway could go too
+2	when he goes the runway could go too	Considering how tenuous the security of that runway is anyway , the better option -- both morally and strategically -- would be for the Bush administration to blast the regime publicly , in terms clear enough for all influential Somalis to understand
+2	Considering how tenuous the security of that runway is anyway , the better option -- both morally and strategically -- would be for the Bush administration to blast the regime publicly , in terms clear enough for all influential Somalis to understand	It is a certainty that Mr. Barre 's days are numbered
+6	Ethiopian politics are the most sophisticated , secretive and Byzantine in all of black Africa	Remember that it took Mr. Mengistu many months to topple Emperor Haile Selassie in 1974 and 1975
+2	Remember that it took Mr. Mengistu many months to topple Emperor Haile Selassie in 1974 and 1975	There is simply no way to engineer a succession covertly
+8	But the U.S. has one great advantage	The Soviets are universally loathed throughout Ethiopia for what they did to the country this past decade -- famine and all
+5	Most is concentrated in five Persian Gulf countries , including his own , Issam Al-Chalabi , Iraq 's oil minister , told the conference Friday	He puts OPEC 's current capacity at 28 million to 29 million barrels a day
+6	That 's higher than some other estimates	Ali Khalifa Al-Sabah , Kuwait 's oil minister , recently estimated OPEC capacity at 25 million barrels a day
+2	Either way , the overhang is big enough to keep delicately balanced oil markets on edge	Even modest amounts of additional output by those with the huge extra capacity and reserves , such as Saudi Arabia and Iraq , could upset the market
+2	Under that approach , countries with the most unused oil capacity would get bigger shares of any future increases in OPEC 's production ceiling than they would under the current system	If you are already producing at 95 % or 100 % of your capacity , what 's the good to be told you can produce at 105 % of capacity
+6	In the end politics got in the way	Libya accepted Iran 's proposal only so long as it was promised production parity with Kuwait
+6	several compromises already have been worked into the plan	The ceiling would be lifted to 21.5 million barrels to provide Kuwait and the United Arab Emirates much higher official quotas while reducing percentage shares of some others
+5	The ceiling would be lifted to 21.5 million barrels to provide Kuwait and the United Arab Emirates much higher official quotas while reducing percentage shares of some others	Libya 's previous conditions are no longer considered a problem , although the United Arab Emirates is still an issue
+2	Saudi Arabia , OPEC 's kingpin , also has surfaced as a possible obstacle	Insisting on a 24.5 % share of any ceiling , Saudi officials have long pressed for the pro rata distribution of increases to all members
+8	Mr. Nazer , the Saudi oil minister , reiterated here that the kingdom would insist on maintaining its percentage share of OPEC production under any quota revisions	Under any circumstances , Saudi Arabia should get more '' rather than less , Mr. Nazer said
+5	the navy still intends to buy 86 Rafales as scheduled in the late 1990s and early 21st century	The air force is to take at least 250 more
+5	the navy ca n't wait until 1998 to replace its obsolete fleet of American-made Crusaders	Rather than renovate the Crusaders the navy wants to buy used F-18s from the U.S. Navy
+2	Officially , the statement is n't an attack on the Rafale	Adm. Goupil said that when the F-18s wear out , the navy is prepared to take Rafales to replace them
+5	Adm. Goupil , a former Crusader squadron leader , said that the last other country to use Crusaders , the Philippines , retired its last ones two years ago	A French Crusader crash a few months ago heightened pressure for new planes here
+5	Adm. Goupil rejected Dassault 's proposal to renovate the Crusaders , saying the cost was impossible to estimate	Even modernized the Crusaders represent an obsolete and dangerous protection for the aircraft carriers France has sent to meet such crises as the wars in Lebanon and the Persian Gulf
+5	Spending by Japanese households averaged 290,782 yen ( $ 2,052.10 ) in August	In nominal terms it rose 0.6 % from a year earlier before adjustment
+2	Securities analysts believe more jolts lie ahead	Fuel and personnel costs are rising , and tourism in and through Hong Kong remains clouded by China 's turmoil since the June 4 killings in Beijing
+8	One step is to beef up its fleet	In addition to aircraft from Boeing Co. , Cathay announced earlier this year an order for as many as 20 Airbus A330-300s
+2	Cathay also is moving some of its labor-intensive data-processing operations outside Hong Kong	Fierce bidding for young employees in Hong Kong is pushing up Cathay 's labor costs by 20 % a year for low-level staff , while experienced , skilled employees are leaving the colony as part of the brain drain
+2	Fierce bidding for young employees in Hong Kong is pushing up Cathay 's labor costs by 20 % a year for low-level staff , while experienced , skilled employees are leaving the colony as part of the brain drain	Some jobs already have been moved to Australia , and there are plans to place others in Canada
+2	Although the June 4 killings in Beijing have hurt its China flights , Cathay 's other routes have retained high load factors	Mr. Eddington regards promoting Hong Kong as an important part of attracting visitors from Japan , South Korea and Taiwan , where the number of people looking to travel abroad has surged
+1	There also has been speculation that Cathay will be among the major private-sector participants in the Hong Kong government 's plans to build a new airport , with the carrier possibly investing in its own terminal	Cathay officials decline to comment on the speculation
+5	But we 'd rather put funds into our own business rather than someone else 's	I 'm not sure cross-ownership would necessarily make things smoother
+1	But this way , American will coordinate good extensions to Boston , New York , Chicago and Dallas	We 'll coordinate on this end to places like Bangkok , Singapore and Manila
+8	Asian traffic is expected to continue as the carrier 's mainstay	Cathay has long stated its desire to double its weekly flights into China to 14 , and it is applying to restart long-canceled flights into Vietnam
+8	the airline is putting its faith in the Sino-British agreement on Hong Kong 's return to China	A special section dealing with aviation rights states that landing rights for Hong Kong 's airlines will continue to be negotiated by Hong Kong 's government
+2	{ Cathay does n't } have a hope in the long run	Cathay would love to keep going , but the general sense is they 're going to have to do something
+8	but he feels that the Sino-British agreement is firm ground to build on for the foreseeable future	We 're confident that it protects our route structure and our ability to grow and prosper
+9	Saturday morning , a resident was given 15 minutes to scurry into a sagging building and reclaim what she could of her life 's possessions	Saturday night she dined in an emergency shelter on salmon steaks prepared by chefs from one of the city 's four-star restaurants
+10	Mayor Art Agnos stands in the glare of television lights trying to explain for the 20th time why the city is severely restricting access to badly damaged structures	A couple in fashionable spandex warm-up suits jogs by , headphones jauntily in place , weaving their way along a street of fractured and fallen houses
+9	A couple in fashionable spandex warm-up suits jogs by , headphones jauntily in place , weaving their way along a street of fractured and fallen houses	At a nearby corner , they swerve perilously close to a listing apartment house , oblivious to any danger
+2	At a nearby corner , they swerve perilously close to a listing apartment house , oblivious to any danger	A policeman shakes his head in amazement as he steers them away
+2	to learn that her apartment is on the condemned list	She is told she ca n't enter unless she is accompanied by an inspector
+9	She is told she ca n't enter unless she is accompanied by an inspector	She bursts into tears and walks away
+5	She bursts into tears and walks away	Nearby , five temporary residents of the school shelter sit on stools , having their necks and backs kneaded by volunteer masseuses
+10	She bursts into tears and walks away	Nearby , five temporary residents of the school shelter sit on stools , having their necks and backs kneaded by volunteer masseuses
+8	The Marina rescue center offered a very San Franciscan response to the disaster	In addition to free massages , there was free counseling , phone calls and a free shuttle bus to a health club
+5	In addition to free massages , there was free counseling , phone calls and a free shuttle bus to a health club	The cafeteria offered donated croissants and brie for breakfast , and for dinner , pasta salad and chocolate mousse torts along with the salmon
+2	the response of Marina residents -- primarily yuppies and elderly people -- to the devastation of their homes `` incredible	People have been very respectful of each other
+8	After being inspected , buildings with substantial damage were color-coded	Green allowed residents to re-enter ; yellow allowed limited access ; red allowed residents one last entry to gather everything they could within 15 minutes
+6	Reds and yellows went about their business with a kind of measured grimness	Some frantically dumped belongings into pillowcases , others threw goods out windows
+1	The guys are going for their skis , their stereos , their personal computers	The women wanted photo albums , a certain brooch , kind of sentimental things
+6	The women wanted photo albums , a certain brooch , kind of sentimental things	He showed an unbroken , still-ticking pocket watch that he retrieved for one woman
+9	and a resident who was n't allowed to go back inside called up the stairs to his girlfriend , telling her to keep sending things down to the lobby	A policewoman had to be called in to make her leave
+5	A policewoman had to be called in to make her leave	the policewoman helped carry out one last load
+6	Enforcement of restricted-entry rules was sporadic	One man trying to remove his car was told by officials to get out of his garage.When he sneaked back later to try again , a different policeman offered to help him get the car out
+1	One man trying to remove his car was told by officials to get out of his garage	When he sneaked back later to try again , a different policeman offered to help him get the car out
+9	One man trying to remove his car was told by officials to get out of his garage	When he sneaked back later to try again , a different policeman offered to help him get the car out
+6	The Marina also has become the focal point of city efforts to reunite residents with any pets that may have fled or become lost during the earthquake	On lampposts along Fillmore Street , a major Marina artery , posters were offering a $ 100 reward for a cat lost during the quake
+8	The San Francisco Society for the Prevention of Cruelty to Animals also has been providing medical care , food , water and foster homes for quake-displaced animals	The SPCA says it has received more than 100 requests for foster homes on behalf of dogs and cats , though some people have sought temporary homes for birds and fish
+2	She can stay there with no heat , but for a parakeet , that can be deadly	A warm foster home has been found
+1	Over the past year there have been only one burglary , three thefts of or from autos , no purse-snatchings , and one attempted robbery in the mall	A shopping center of similar size in an affluent Los Angeles suburb would , per year , be expected to have eight burglaries , 70 thefts of or from autos , and four robberies
+1	The Watts mall has annual sales of more than $ 350 per leasable square foot	the figure for a comparable suburban shopping center would be $ 200
+5	The Watts mall has annual sales of more than $ 350 per leasable square foot ; the figure for a comparable suburban shopping center would be $ 200	Three other Haagen shopping centers in the Watts area are doing almost as well
+10	The Watts mall has annual sales of more than $ 350 per leasable square foot ; the figure for a comparable suburban shopping center would be $ 200	Three other Haagen shopping centers in the Watts area are doing almost as well
+2	with an erosion of the customer base , development capital , and insurability	Major regional and national chain stores are replaced by mom-and-pop operations offering poorer-quality merchandise at higher prices
+8	Thus there is even more to the Vermont-Slauson Center than a good place to shop	This defensible commercial zone becomes , for the residents , a secure oasis in a barren urban landscape , evidence that community decay is not inevitable and that the gangs are not invincible
+9	This starts in the construction phase through the use of minority contractors and local workers	It continues through the life of the center
+8	It continues through the life of the center	the Vermont-Slauson Center has created 500 permanent private-sector jobs at a one-time cost in public funds of only $ 2,500 per job
+5	the Vermont-Slauson Center has created 500 permanent private-sector jobs at a one-time cost in public funds of only $ 2,500 per job	As many of these jobs are filled by local residents , who move from the welfare rolls to the tax rolls , the $ 2,500-per-job public investment should repay itself in a few years
+6	Profits are also plowed back into the community	the non-profit Vermont-Slauson Economic Development Corp. receives 60 % of the profits from the Vermont-Slauson Center and uses the money to provide moderate and low-cost housing in the community as well as commercial and industrial development projects
+2	There is no question that Vermont-Slauson had a halo effect on the surrounding neighborhood	What had been a deteriorated area with nothing but wig shops and shoe shops is now experiencing a major upgrading in the housing and commercial stock , thanks to a continuously replenished source of revitalization capital that Vermont-Slauson yields
+6	Another benefit is that substantial percentages of the proprietors in these centers are minority businessmen and women	In the Grand Boulevard Plaza developed by Matanky Realty Group in Chicago 's Third Ward , opposite the Robert Taylor Homes , 29 % of the stores to date have been leased to blacks and 14 % to members of other minority groups
+2	In the Grand Boulevard Plaza developed by Matanky Realty Group in Chicago 's Third Ward , opposite the Robert Taylor Homes , 29 % of the stores to date have been leased to blacks and 14 % to members of other minority groups	Children from the community will have worthier role models than the drug kingpins
+6	Security at a typical Haagen inner-city center is impressive , but unobtrusive	The entire site is enclosed by a 6-to-8-foot-high ornamental iron fence with a small number of remote-controlled gates
+0	The entire site is enclosed by a 6-to-8-foot-high ornamental iron fence with a small number of remote-controlled gates	Shrubs and flowers give it a pleasing and non-fortress-like appearance
+7	Infrared motion detectors and closed-circuit TV cameras monitor the entire center	lighting levels are three to five times the industry standard
+5	lighting levels are three to five times the industry standard	The security command post , camouflaged as second-story retail space , has its own `` crow 's nest '' above the roofs of the other buildings , with a panoramic view of the entire center
+5	The security command post , camouflaged as second-story retail space , has its own `` crow 's nest '' above the roofs of the other buildings , with a panoramic view of the entire center	Local law enforcement is present in a sub-station occupying space donated by the center
+2	Haagen has its own large security force of well-trained and well-paid personnel on round-the-clock duty at each center	Security is 60 % to 70 % of the common area charges of these centers , vs. an industry average of about 15 %
+2	Many states already have Enterprise Zones and legislation that combines tax incentives , loans , and grants to encourage investment in depressed areas with requirements for the hiring of the unemployed and minorities	These programs could be expanded to focus on funds for project planning , identifying sources of funds , and for acquiring a site and preparing it
+5	These programs could be expanded to focus on funds for project planning , identifying sources of funds , and for acquiring a site and preparing it	Combatting crime and the fear of it in inner-city commercial areas should give Enterprise Zones more success than most have enjoyed to date
+5	With many suburban areas basically overbuilt with shopping centers , inner-city areas may represent a major new untapped market for investment	New approaches to mall design and operation make it possible to tap these markets
+2	Government officials who wonder how important it is for them to encourage development in high-risk areas should visit Vermont-Slauson and Grand Boulevard Plaza and decide for themselves	The answer will be obvious
+8	that on Dec. 21 it will redeem $ 10 million face amount of its $ 59.3 million of 15.625 % subordinated notes outstanding , due June 1 , 1991	For each $ 1,000 of notes , the maker of specialty metals , industrial fasteners and consumer products will pay $ 1,026.46 plus $ 8.68 of interest accrued from Dec. 1
+2	Growth stocks will return to favor because of the jitters caused by the market 's steep slide on Oct. 13 , and because of the current swell of disappointing earnings announcements announcements	Against such a backdrop , companies with proven track records of earnings gains of 20 % or so annually have extra appeal
+2	The main argument for growth stocks is their usually superior performance in a slowing economy	If the market refocuses on earnings , we should get better valuations of growth stocks
+2	If the market refocuses on earnings , we should get better valuations of growth stocks	Eventually investors will be willing to pay higher prices for companies with proven track records of earnings growth
+2	Eventually investors will be willing to pay higher prices for companies with proven track records of earnings growth	In anticipation of that shift , he and other analysts are encouraging their clients to buy such issues now
+5	As a result , Morgan Stanley 's Index of 40 Emerging Growth Stocks -- most of which are in the OTC market -- is up only 13 % for the year , while the Dow Jones Industrial Average has leaped 24 % and the S & P 500 has grown 25 %	The Nasdaq Composite has gained 23 % this year , but that 's largely due to the 100 largest nonfinancial stocks , which have soared 30 %
+1	As a result , Morgan Stanley 's Index of 40 Emerging Growth Stocks -- most of which are in the OTC market -- is up only 13 % for the year , while the Dow Jones Industrial Average has leaped 24 % and the S & P 500 has grown 25 %	The Nasdaq Composite has gained 23 % this year , but that 's largely due to the 100 largest nonfinancial stocks , which have soared 30 %
+2	Some investors are skeptical of growth stocks because investing in them means ignoring that maxim found in the fine print of some investment advertisements -- that past performance is n't indicative of future results	People are naturally suspicious of them , '' says Mr. Mullins of Morgan Stanley
+6	However , more money managers are reassured that profit is regaining importance	Mark Schoeppner , portfolio manager at Pittsburgh-based Quaker Capital Management , says that in reaction to nervousness about debt-laden buy-out transactions , analysts and investors now appear to be `` valuing stock based on future earnings as opposed to the amount of debt the company can support
+2	earnings growth is beginning to play a greater part in investors ' buying decisions	On Friday , Hambrecht & Quist added St. Jude Medical to the list of 20 stocks it strongly recommends
+5	The medical devices maker 's earnings rose nearly 35 % in 1987 from 1986 , and 75 % in 1988	that the company 's net income will grow 51 % to $ 2.15 a share this year
+5	that the company 's net income will grow 51 % to $ 2.15 a share this year	St. Jude finished up 1/4 to 44 1/2 on Friday
+3	It was a busy week for OTC stocks	Friday 's volume totaled 158.2 million shares
+5	Friday 's volume totaled 158.2 million shares	the daily average for the week was a bustling 176.7 million
+2	Valley National lost 1 3/8 to 17 1/8 on volume of 1.9 million shares	The company reported a big third-quarter loss on Thursday
+1	Eliot Savings Bank lost 7/8 to 1 5/8 after reporting that it had a $ 4.8 million loss in the latest third quarter mostly because of loan-loss provisions	In the 1988 quarter , the bank earned $ 1.1 million
+8	One bank stock was a winner	BanPonce jumped 4 1/2 to 47 3/4 after agreeing to be acquired by Banco Popular de Puerto Rico for $ 56.25 a share
+8	Sierra Tucson , an initial public offering , made the most active list	The company 's shares began trading at 12 1/2 , up from its initial offering price of 12 , and closed at 13
+2	Among declining issues , a weak earnings outlook drove Groundwater Technology down 6 1/4 to 24	The company said results for its second quarter ended Oct. 28 could drop as much as 20 % below the 30 cents a share reported in the year-earlier quarter
+10	Among declining issues , a weak earnings outlook drove Groundwater Technology down 6 1/4 to 24	The company said results for its second quarter ended Oct. 28 could drop as much as 20 % below the 30 cents a share reported in the year-earlier quarter
+2	Medstone International plummeted 3 1/4 to 7 1/4	A Food and Drug Administration advisory panel has asked that Medstone perform more studies on its device to treat gallstones
+8	McCaw Cellular Communications and its target , LIN Broadcasting , were active	LIN added 5/8 to 110 5/8 and McCaw lost 1/4 to 41
+5	and McCaw lost 1/4 to 41	McCaw said it has secured commitments from three banks to help finance its $ 125-a-share bid for 22 million of Lin 's shares
+5	McCaw said it has secured commitments from three banks to help finance its $ 125-a-share bid for 22 million of Lin 's shares	McCaw has called for a `` fair auction '' of LIN , which earlier entered a stock-swap merger pact with BellSouth
+5	The equity kicker is not attached to the offering , but underwriters said it will be offered after a filing for 68,548 common shares of CNW Holdings is declared effective by the Securities & Exchange Commission	The issue is noncallable for five years and has a sinking fund starting in 2000 to retire 50 % of the issue before maturity
+8	$ 200 million of Eurobonds due Nov. 9 , 1993 , with equity-purchase warrants , indicating a 4 % coupon at par , via Nomura International Ltd	Each $ 5,000 bond carries one warrant , exercisable from Nov. 28 , 1989 , through Oct. 28 , 1993 , to buy company shares at an expected premium of 2 1/2 % to the closing share price when terms are fixed Oct. 27
+8	because of hemorrhaging at its First Interstate Bank of Arizona unit	the unit , bludgeoned by Arizona 's worsening real-estate woes , will have a $ 174 million loss for the quarter
+2	the unit , bludgeoned by Arizona 's worsening real-estate woes , will have a $ 174 million loss for the quarter	First Interstate took a huge $ 350 million provision for loan losses at the Arizona bank
+9	First Interstate took a huge $ 350 million provision for loan losses at the Arizona bank	It charged off an estimated $ 200 million of Arizona loans , leaving the unit with a reserve for future losses of $ 255 million , about 61 % of its $ 416 million of troubled loans and repossessed real estate
+5	The action capped a spurt of grim Arizona banking news for the third quarter , and emphatically signaled that Arizona is challenging Texas 's long reign as banking 's busiest graveyard	Earlier last week , Valley National Corp. , the state 's largest locally owned banking company , reported a $ 72.2 million loss and suspended its dividend
+7	Earlier last week , Valley National Corp. , the state 's largest locally owned banking company , reported a $ 72.2 million loss and suspended its dividend . Pinnacle West Capital Corp. , which has been wrangling with regulators for months over what to do about Pinnacle 's moribund Merabank thrift unit , suspended its dividend and reported a 91 % plunge in third-quarter net income	Security Pacific Corp. said third-quarter credit losses surged a third to $ 109 million , mainly because of sour Arizona real-estate loans
+7	Earlier last week , Valley National Corp. , the state 's largest locally owned banking company , reported a $ 72.2 million loss and suspended its dividend . Pinnacle West Capital Corp. , which has been wrangling with regulators for months over what to do about Pinnacle 's moribund Merabank thrift unit , suspended its dividend and reported a 91 % plunge in third-quarter net income.Security Pacific Corp. said third-quarter credit losses surged a third to $ 109 million , mainly because of sour Arizona real-estate loans	New York-based Chase Manhattan Corp. took an $ 85 million Arizona-related charge
+5	regulators have concluded that lenders ' reserves are far too low to absorb their future Arizona losses	Examiners from the Office of the Comptroller of the Currency had been combing through First Interstate 's real-estate portfolio since last month
+9	regulators have concluded that lenders ' reserves are far too low to absorb their future Arizona losses	Examiners from the Office of the Comptroller of the Currency had been combing through First Interstate 's real-estate portfolio since last month
+9	they first recommended that First Interstate take a provision that was less than the eventual $ 350 million third-quarter hit	When First Interstate balked regulators responded by raising their recommendation to $ 350 million
+8	The tough regulatory stance portends large future losses , especially at the state 's thrifts	At least six of Arizona 's 12 savings and loan institutions have either been taken over by the government 's conservatorship program or are essentially insolvent
+2	At least six of Arizona 's 12 savings and loan institutions have either been taken over by the government 's conservatorship program or are essentially insolvent	they are sitting on enormous unrecognized losses
+5	For example , Western Savings & Loan Association had tangible capital-assets minus liabilities -- of a negative $ 357.4 million at June 30	It had a $ 258.9 million loss in the second quarter
+2	The rapid deterioration of the Arizona thrifts only adds to the ever-swelling cost of the government 's massive thrift bailout , officially estimated at about $ 166 billion	Together , the six government-controlled or essentially insolvent Arizona thrifts have tangible capital of a negative $ 1.5 billion , foreclosed property of $ 1.8 billion and pastdue loans of $ 1.63 billion
+5	They have no reserves against the real estate , and their reserves against the loans are miniscule compared with the levels of reserves banks are moving to set up	The thrifts had a combined loss of $ 487.8 million in the second quarter
+5	The thrifts had a combined loss of $ 487.8 million in the second quarter	Other lenders have been recovering only 50 cents to 60 cents on the dollar on foreclosed Arizona property , if they can sell it at all
+8	All this havoc is the result of one of the worst busts in Arizona 's boom-and-bust history , compounded by some of the usual suspects in 1980s banking debacles : greed , fraud and plain bad banking	In the late 1970s and early 1980s , lenders and developers poured money into office buildings , condominiums and massive tracts of raw desert land , confident that Arizona 's population would grow at annual rates of 4 % to 6 % for years to come
+1	In the late 1970s and early 1980s , lenders and developers poured money into office buildings , condominiums and massive tracts of raw desert land , confident that Arizona 's population would grow at annual rates of 4 % to 6 % for years to come	Now , annual population growth is running at about 2 % a year , some desert tracts bought three years ago for $ 90,000 an acre are being sold at $ 25,000 an acre and Phoenix has a seven-year supply of unoccupied office space
+6	Many Arizona real-estate experts think the worst may be yet to come	Ralph Shattuck , publisher of Foreclosure Update newsletter , said foreclosures have climbed to about 1,482 a month just in Maricopa County
+8	and it 's accelerating	So far this month , foreclosures are averaging about 85 a day
+2	It 's reasonable to say there is not a solvent S & L in the state and the amount of viable bank capital is very low	We 're going to see another big wave of failures and defaults between now and year-end
+2	We 're going to see another big wave of failures and defaults between now and year-end	The only thing a lot of these lenders can get out of their mouth now is : ` Pay me in 60 days
+1	First Interstate had a $ 214.4 million loss in 1988 's third quarter , mainly from writedowns and reserves connected with its Texas operations	For the six months ended June 30 , it reported net income of $ 234.3 million , or $ 4.83 a share , including $ 46 million from tax credits and accounting changes
+5	The bank 's Arizona unit holds about $ 6 billion of First Interstate 's $ 50 billion of assets	Arizona real-estate prices , which plummeted 40 % over the last year , to fall another 20 % before stabilizing
+8	S & P also lowered ratings on unsecured deposits and issues backed by a letter of credit from the bank holding company 's principal unit , Valley National Bank of Arizona	the downgrades reflect the continued slide in the company 's financial condition
+2	the concern will be able to withstand the current downturn in Arizona real estate	Commercial paper holders have reinvested their funds and consumer deposits have been up in the last few days
+5	IL-4 is a hormone which directs the growth and function of white blood cells involved in the body 's immune response	The IL-4 receptor on the surface of such cells receives the hormone 's message to rally the body 's defense
+5	Immunex will contract with the spinoff to provide the research , development and initial testing of the new agents	Immunex will have the option to buy back Receptech shares after five years
+2	Conner dominates the market for hard-disk drives used to store data in laptop computers	that net income for its third quarter soared 72 % to $ 11.8 million , or 28 cents a share , from $ 6.8 million , or 19 cents a share , in the year-ago period
+5	It said yesterday that net income for its third quarter soared 72 % to $ 11.8 million , or 28 cents a share , from $ 6.8 million , or 19 cents a share , in the year-ago period	Its revenue totaled $ 184.4 million , an increase of 172 % from $ 67.8 million a year ago
+5	For the nine months net income jumped 84 % to $ 26.9 million , or 69 cents a share , from $ 14.6 million , or 43 cents a share	Revenue nearly tripled to $ 479 million , from $ 160 million
+2	Conner 's performance is closely tied to the burgeoning demand for battery-operated computers , the computer industry 's fastest-growing segment	Since its inception , Conner has both benefited from and helped make possible the rapid spread of portable computers by selling storage devices that consume five to 10 times less electricity than drives used in desktop machines
+8	Today , Conner controls an estimated 90 % of the hard-disk drive market for laptop computers	The company supplies drives to Compaq and Zenith Data Systems , the top two U.S. manufacturers of laptops , and to Toshiba Corp. , NEC Corp. and Sharp Corp. , the leading Japanese laptop makers
+2	In the coming months , however , this is likely to change	Next month , Seagate Technology plans to introduce its first family of low-power drives for battery-operated computers
+8	And the Japanese are likely to keep close on Conner 's heels	They are going to catch up
+2	They are going to catch up	Both Toshiba and NEC already produce hard-disk drives , and Sony also is studying the field
+6	But Conner is n't standing still	Yesterday , the company introduced four products , three of which are aimed at a hot new class of computers called notebooks
+5	We continue to develop products faster than anyone else can	These new products could account for as much as 35 % of the company 's business in 1990
+2	These new products could account for as much as 35 % of the company 's business in 1990	We 're not afraid of obsoleting some of our old stuff to stay ahead of the competition
+8	Conner also makes hard-disk drives for desktop computers and is a major supplier to Compaq	Sales to Compaq represented 26 % of Conner 's business in its third quarter
+4	that he is n't using the telephone to lure clients to his doorstep	We will only deal with clients on the phone
+8	We will only deal with clients on the phone	We have no in-office business
+9	When a caller reaches Telelawyer by dialing 900-TELELAW , a receptionist refers the call to one of six attorneys	In an effort to determine whether a caller has reason to sue , Cane lawyers review documents and perform research , if necessary , with the help of three law clerks and several support staffers
+0	In an effort to determine whether a caller has reason to sue , Cane lawyers review documents and perform research , if necessary , with the help of three law clerks and several support staffers	There is no charge for research -- only for time on the phone
+5	The jury also convicted them of extortion in obtaining a $ 20,000 , interest-free loan from a Wedtech officer	The jury found them guilty of conspiracy in obtaining the payments
+10	they plan to appeal	he has n't decided whether he will resign
+5	they plan to appeal	he has n't decided whether he will resign
+5	The five partners who resigned from Shea & Gould late last week are Tom Hutton , Sam Ingram , Dean Yuzek , Daniel Carroll and Ernest Bertolotti	They will be joined by Larry Gainen , who resigned from the firm of LePatner , Gainen & Block
+5	While investigations into lawyer misconduct will remain secret , the public will be notified once a formal complaint is filed against an attorney	The actual disciplinary hearings will be public
+5	In addition , Illinois attorneys will lose the right to sue clients who file malicious complaints against them	Non-lawyers will be added to the inquiry panels that look into allegations of misconduct
+2	There 's no constitutional right involved in the rule change	You do n't have a right to practice
+1	You do n't have a right to practice	You only have a privilege to practice
+2	DREXEL BURNHAM LAMBERT Inc. agreed to pay a $ 50,000 fine to Delaware	Drexel does n't have a Delaware office , but the New York firm has been negotiating settlements that would allow it to operate freely nationwide despite its record as an admitted felon
+9	The firm has said it expects to pay $ 11.5 million overall to settle with states	Drexel pleaded guilty in September to six felony counts of securities and mail fraud
+5	that the tobacco and food giant has asked Backer Spielvogel Bates Worldwide Inc. , a unit of Saatchi & Saatchi Co. , and possibly others to work on creative ideas for the account	another potential contender is WPP Group 's Ogilvy & Mather agency
+10	that the tobacco and food giant has asked Backer Spielvogel Bates Worldwide Inc. , a unit of Saatchi & Saatchi Co. , and possibly others to work on creative ideas for the account	another potential contender is WPP Group 's Ogilvy & Mather agency
+5	Both Philip Morris and Backer Spielvogel declined to comment	A spokeswoman for Ogilvy & Mather said the agency does n't comment on `` idle speculation
+2	The loss of the cigarette account would be a severe blow to Wells Rich	Benson & Hedges has been one of its most high-visibility campaigns , as well as one of its largest clients
+8	Benson & Hedges has been one of its most high-visibility campaigns , as well as one of its largest clients	The account billed almost $ 60 million last year , according to Leading National Advertisers
+8	to stop the brand 's slipping market share	According to John Maxwell , an analyst at Wheat First Securities , Richmond , Va. , Benson & Hedges has slipped from 4.7 % of the cigarette market in 1985 to just 4.1 % after the second quarter of this year
+2	According to John Maxwell , an analyst at Wheat First Securities , Richmond , Va. , Benson & Hedges has slipped from 4.7 % of the cigarette market in 1985 to just 4.1 % after the second quarter of this year	The brand is No . 7 overall in the cigarette business
+8	one picturing a young man clad only in pajama bottoms interrupting a festive brunch	That ad generated so much publicity that a trade magazine launched a contest for its readers to guess who the guy was and what he was doing
+9	The brand early on achieved an upscale appeal -- a trait that some analysts believe is partly responsible for its staid performance	Philip Morris , trying to revive the Benson & Hedges franchise , put the account up for review in 1986
+1	it has lost a number of big accounts this year , including the $ 20 million to $ 25 million Cadbury-Schweppes Canada Dry and Sunkist accounts , the $ 18 million Procter & Gamble Co. Sure deodorant account and the $ 10 million Polo/Ralph Lauren business	Its victories include more than $ 30 million in Sheraton Corp. business and an assignment from Dun & Bradstreet worth $ 5 million to $ 10 million
+2	The Bay Bridge will be closed for at least several weeks	Part of the bridge collapsed in the quake
+8	The Bay Area Rapid Transit system is braced for a doubling of its daily regular ridership to 300,000	BART has increased service to 24 hours a day in preparation for the onslaught
+2	Most unusual will be water-borne commuters from the East Bay towns of Oakland and Berkeley	For the first time in 32 years , ferry service has been restored between the East Bay and San Francisco
+8	For the first time in 32 years , ferry service has been restored between the East Bay and San Francisco	The Red and White Fleet is offering East Bay commuters a chance to ride the waves for the price of $ 10 round-trip
+6	That tariff is too stiff for some Financial District wage earners	I 'll stay with BART , '' said one secretary
+8	the Golden Gate Bridge to be swamped with an extra load of commuters , including East Bay residents making a long detour	quite a traffic crunch
+5	About 23,000 people typically travel over the Golden Gate Bridge during commute hours	About 130,000 vehicles cross during a 24-hour period
+2	It also raised hackles of the city 's tourism boosters	Other cities are calling { groups booked here for tours and conferences } and -- not to be crass -- stealing our booking list
+5	City officials stuck by their estimate of $ 2 billion in damage to the quake-shocked city	The other five Bay area counties have increased their total damage estimates to $ 2.8 billion
+1	City officials stuck by their estimate of $ 2 billion in damage to the quake-shocked city	The other five Bay area counties have increased their total damage estimates to $ 2.8 billion
+9	The most worrisome stretch is 1.2 miles of waterfront highway known as the Embarcadero Freeway	Until it was closed Tuesday , it had provided the quickest series of exits for commuters from the Bay Bridge heading into the Financial District
+2	The preliminary conclusion from a survey of 200 downtown high-rises is that `` we were incredibly lucky	While many of these buildings sustained heavy damage , little of that involved major structural damage
+2	While many of these buildings sustained heavy damage , little of that involved major structural damage	City building codes require construction that can resist temblors
+8	the insurance market has n't yet been able to estimate the total potential claims from the disaster	The extent of the claims wo n't be known for some time
+5	California officials plan to ask Congress for $ 3 billion or more of federal aid , in the form of grants and low-interest loans	The state has a $ 1 billion reserve , and is expected to add $ 1 billion to that fund in the next year
+10	California officials plan to ask Congress for $ 3 billion or more of federal aid , in the form of grants and low-interest loans	The state has a $ 1 billion reserve , and is expected to add $ 1 billion to that fund in the next year
+8	Much of Bond Corp. 's losses stemmed from one-time write-downs of the value of some of Bond Corp. 's assets and those of its units	The results included a A $ 453.4 million write-off of future income-tax benefits and a provision for a loss of A $ 149.5 million on the sale of a stake of about 20 % in Lonrho PLC
+8	Earnings before interest and tax from brewing dived 50 % to A $ 123.8 million from A $ 247.3 million	the general financial performance of its U.S. brewing operations , G. Heileman Brewing Co. , was `` disappointing , and this has been reflected in the results
+5	Now Bond Corp. has agreed to sell at least half its Australian brewing assets	It has sold billions of dollars of other assets and has more on the block
+8	We 've taken a big loss	We 've taken it on the chin
+5	it will focus on building its domestic and international media and communications businesses	it will look at opportunities in brewing , property and energy resources to the extent consistent with the dominant objective of manageable debt-to-assets ratios
+0	The Bakersfield Supermarket went out of business last May	The reason was not high interest rates or labor costs
+4	Nor was there a shortage of customers in the area , the residential Inwood section of northern Manhattan	The business closed when the owner was murdered by robbers
+8	In his first year of operating the store he bought for $ 220,000 , Mr. Ortiz was robbed at least twice at gunpoint	The first time he was shot in the hand as he chased the robbers outside.The second time he identified two robbers , who were arrested and charged
+7	The first time he was shot in the hand as he chased the robbers outside	The second time he identified two robbers , who were arrested and charged
+1	The first time he was shot in the hand as he chased the robbers outside	The second time he identified two robbers , who were arrested and charged
+9	The second time he identified two robbers , who were arrested and charged	Two weeks later -- perhaps in retaliation -- Mr. Ortiz was shot three times in the back , during what police classified as a third robbery attempt
+7	for working until 11 p.m. seven days a week to cover his $ 3,000 a month rent	For providing what his customers described as very personal and helpful service
+7	for working until 11 p.m. seven days a week to cover his $ 3,000 a month rent.For providing what his customers described as very personal and helpful service	For creating a focus for neighborhood life
+8	Israel Ortiz is only one of the thousands of entrepreneurs and their employees who will be injured or killed by crime this year	that almost 2 % of all retail-sales workers suffer injuries from crime each year
+5	that almost 2 % of all retail-sales workers suffer injuries from crime each year , almost twice the national average and about four times the rate for teachers , truck drivers , medical workers and door-to-door salespeople	Only a few other occupations have higher reported rates of criminal injury , such as police , bartenders and taxi drivers
+1	Yet these figures show only the most visible part of the problem	Recent data from New York City provide more of the picture
+5	Yet these figures show only the most visible part of the problem	Recent data from New York City provide more of the picture
+8	Recent data from New York City provide more of the picture	While by no means the highest crime community in the country , New York is a prime example of a city where crime strangles small-business development
+8	A survey of small businesses there was conducted this spring by Interface , a policy research organization	It gave 1,124 businesses a questionnaire and analyzed 353 responses
+8	and analyzed 353 responses	The survey found that over a three-year period 22 % of the firms said employees or owners had been robbed on their way to or from work or while on the job
+5	The survey found that over a three-year period 22 % of the firms said employees or owners had been robbed on their way to or from work or while on the job	Seventeen percent reported their customers being robbed
+5	Seventeen percent reported their customers being robbed	Crime was the reason that 26 % reported difficulty recruiting personnel and that 19 % said they were considering moving
+5	More than one-third of the responding businesses said they suffer from drug dealing and loitering near their premises	In Brooklyn and the Bronx , one out of four commercial firms is burglarized each year
+5	In Brooklyn and the Bronx , one out of four commercial firms is burglarized each year	Industrial neighborhoods fare even worse , with burglary rates twice the citywide average
+8	Two decades ago , the Small Business Administration reported Yale Prof.Albert Reiss 's landmark study of crime against 2,500 small businesses drawn from national IRS records	He found that monetary crime losses , as a proportion of gross receipts , were 37 times higher for small businesses than for large ones
+5	The New York study 's companies averaged 27 employees	their annual crime losses averaged about $ 15,000 , with an additional $ 8,385 annual cost in security
+8	Whatever the monetary crime losses , they may not be nearly as important to entrepreneurs as the risk of personal injury	After repeated gun robberies , some entrepreneurs may give up a business out of fear for their lives
+6	After repeated gun robberies , some entrepreneurs may give up a business out of fear for their lives	One Washington couple recently sold their liquor store after 34 years in business that included four robbery deaths and 16 robberies or burglaries on the premises
+8	the vicious cycle that National Institute of Justice Director James K. Stewart calls `` crime causing poverty	Underclass neighborhoods offer relatively few employment opportunities , contributing to the poverty of local residents.Small neighborhood businesses could provide more jobs , if crime were not so harmful to creating and maintaining those businesses
+8	Bigger business can often better afford to minimize the cost of crime	that the cost of security measures in firms with fewer than five employees was almost $ 1,000 per worker , compared with one-third that amount for firms with more than 10 employees
+2	The shift of retailing to large shopping centers has created even greater economies of scale for providing low-crime business environments	Private security guards and moonlighting police can invoke the law of trespass to regulate access to these quasi-public places
+2	Few small neighborhood businesses , however , can afford such protection , even in collaboration with other local merchants	In the neighborhoods with the highest crime rates , small business generally relies on the public police force for protection
+2	In the neighborhoods with the highest crime rates , small business generally relies on the public police force for protection	This creates several problems
+8	One is that there are not enough police to satisfy small businesses	The number one proposal for reducing crime in the New York survey was to put more police on foot or scooter patrol , suggested by more than two-thirds of the respondents
+1	The number one proposal for reducing crime in the New York survey was to put more police on foot or scooter patrol , suggested by more than two-thirds of the respondents	Only 22 % supported private security patrols funded by the merchants themselves
+5	A second problem is the persistent frustration of false alarms	Only half the New York small businesses surveyed , for their part , are satisfied with the police response they receive
+2	A second problem is the persistent frustration of false alarms	Only half the New York small businesses surveyed , for their part , are satisfied with the police response they receive
+2	Another solution cities might consider is giving special priority to police patrols of small-business areas	For cities losing business to suburban shopping centers , it may be a wise business investment to help keep those jobs and sales taxes within city limits
+5	For cities losing business to suburban shopping centers , it may be a wise business investment to help keep those jobs and sales taxes within city limits	Increased patrolling of business zones makes sense because urban crime is heavily concentrated in such `` hot spots '' of pedestrian density
+2	I think this repeal was kind of a thoughtless action , as a matter of fact	They will have to revisit this issue
+8	Stock funds , like the market as a whole , generally dropped more than 2 % in the week through last Thursday , according to figures compiled by Lipper Analytical Services Inc	That reflects the huge drop a week ago Friday , last Monday 's rebound and the dips and blips that followed
+8	But several other types of funds shielded investors from the worst of the market 's slide	Funds that invest internationally were the top-performing stock and fixed-income funds
+8	It 's like kicking the tires of a car	What you want to know is when the road 's rough , when there 's snow and ice , how 's this car going to perform
+7	Gold-oriented funds , for instance posted an average decline of 1.15 %	Flexible portfolio funds declined at about half the rate of stock funds
+1	Gold-oriented funds , for instance posted an average decline of 1.15 %	Flexible portfolio funds declined at about half the rate of stock funds
+2	Global allocation funds take the asset-allocation concept one step further by investing at least 25 % of their portfolios outside the U.S	This gives them the added benefits of international diversification
+8	there 's also a price to pay	A diversified portfolio always underperforms an undiversified portfolio during those times when the investment in the undiversified portfolio is truly hot
+7	By comparison , global asset allocation funds have turned in an average total return of about 19 % , while domestic flexible portfolios are up about 17 %	Fixed-income funds have returned 8.2 % , while gold funds , which tend to be volatile , have risen just 4.55 % , on average
+1	By comparison , global asset allocation funds have turned in an average total return of about 19 % , while domestic flexible portfolios are up about 17 %	Fixed-income funds have returned 8.2 % , while gold funds , which tend to be volatile , have risen just 4.55 % , on average
+8	That 's the problem with trying to hedge too much	You do n't make any real money
+5	The $ 4 million Monetta Fund , for instance , was the seventh top performing fund for the week , with a 2.65 % return	Its return so far this year has been a credible 21.71 %
+2	The fund 's strategy is to sell when a stock appreciates 30 % over its cost	By the time the market plummeted 10 days ago , Monetta was 55 % in cash
+9	By the time the market plummeted 10 days ago , Monetta was 55 % in cash	Last Monday , he started `` buying the high-quality growth companies that people were throwing away at discount prices
+2	the fund was about half invested in government bonds on Oct. 13 , and about 10 % in cash	In a downward market , bonds act better
+5	there 's a lot of unsettlement in this market	interest rates will continue to trend lower
+6	giving them the benefit of foreign currency translations when the dollar is weak	From its high point on Thursday , Oct. 12 , to where it traded late in New York a week later , the dollar fell 3.6 % against the West German mark , 3.4 % against the British pound and 2.1 % against the Japanese yen
+2	Three International Cash Portfolios funds were among the four top-performing funds in the latest week	Because the funds ' investments are denominated in foreign currencies , their value expressed in dollars goes up when those currencies rise against the dollar
+2	But when the dollar rises against major foreign currencies , as it did for much of this year , the dollar value of these funds declines	All three funds posted negative returns for the year to date
+2	The small drop in equity funds in general in the latest week may not necessarily be a good sign	that what happened last week `` may not be enough of an adjustment
+2	that what happened last week `` may not be enough of an adjustment	There 's either more to come or an extremely long period of dullness
+2	But investors do n't seem to think so	that cash flows into stock funds were heavier than usual after heavy outflows on the 13th
+8	that cash flows into stock funds were heavier than usual after heavy outflows on the 13th	it had a more than $ 50 million net inflow into its stock funds last week
+4	There certainly has n't been a panic reaction	People showed some staying power and , in fact , interest in buying equities
+4	Sitting at the bar of the Four Seasons restaurant , architect William McDonough seems oblivious to the glamorous clientele and the elegant setting	He is ogling the curtains rippling above the ventilation ducts
+5	He is ogling the curtains rippling above the ventilation ducts	Look how much air is moving around ! '' he says
+8	Look how much air is moving around	The ventilation here is great
+2	You may be hearing more about the 38-year-old Mr. McDonough and his preoccupation with clean air	After years of relative obscurity , he is starting to attract notice for the ecological as well as the aesthetic quality of his architecture
+5	He has put some of his aesthetic ideas into practice with his design of the four-star Quilted Giraffe restaurant and his remodeling of Paul Stuart , the Madison Avenue clothing store	He has designed furniture and homes as well as commercial and office space
+5	He has put some of his aesthetic ideas into practice with his design of the four-star Quilted Giraffe restaurant -- `` architecturally impeccable , '' Progressive Architecture magazine called it -- and his remodeling of Paul Stuart , the Madison Avenue clothing store.He has designed furniture and homes as well as commercial and office space	He is now designing a Broadway stage set for a show by the band Kid Creole and the Coconuts
+2	Now the question is : Is Poland ready for it	Mr. McDonough is about to tackle his biggest clean-air challenge yet , the proposed Warsaw Trade Center in Poland , the first such center in Eastern Europe
+6	The project has already acquired a certain New York cachet	Bloomingdale 's plans to sell a foot-tall chocolate model of the center during the holidays
+5	Some of the sales proceeds will go to the Design Industries Foundation for AIDS	A cake topped with a replica of the center will be auctioned at an AIDS benefit at Sotheby 's in December
+7	as much of the Polish center as possible will be made from aluminum , steel and glass recycled from Warsaw 's abundant rubble	A 20-story mesh spire will stand atop 50 stories of commercial space
+7	as much of the Polish center as possible will be made from aluminum , steel and glass recycled from Warsaw 's abundant rubble.A 20-story mesh spire will stand atop 50 stories of commercial space	Solar-powered batteries will make the spire glow
+7	as much of the Polish center as possible will be made from aluminum , steel and glass recycled from Warsaw 's abundant rubble.A 20-story mesh spire will stand atop 50 stories of commercial space.Solar-powered batteries will make the spire glow	The windows will open
+7	as much of the Polish center as possible will be made from aluminum , steel and glass recycled from Warsaw 's abundant rubble.A 20-story mesh spire will stand atop 50 stories of commercial space.Solar-powered batteries will make the spire glow.The windows will open	The carpets wo n't be glued down
+8	If Mr. McDonough has his way , the Poles will compensate for the trade center 's emissions of carbon dioxide , a prime suspect in the global atmospheric warming many scientists fear	The Poles would plant a 10-square-mile forest somewhere in the country at a cost of $ 150,000
+2	The news has n't exactly moved others in Mr. McDonough 's profession to become architectural Johnny Appleseeds	All architects want to be aware of the ecological consequences of their work but we ca n't all carry it to that extreme
+8	The news has n't exactly moved others in Mr. McDonough 's profession to become architectural Johnny Appleseeds	All architects want to be aware of the ecological consequences of their work but we ca n't all carry it to that extreme
+2	All architects want to be aware of the ecological consequences of their work but we ca n't all carry it to that extreme	We 're really at the mercy of what the construction industry can and will do readily
+9	Mr. McDonough was born in Tokyo and attended 19 schools in places ranging from Hong Kong to Shaker Heights , Ohio , before entering Dartmouth College	He earned a master 's degree in architecture from Yale
+6	His interest in the natural environment dates from his youth	He and his father still spend time each summer fly-fishing for salmon in Iceland
+5	He and his father still spend time each summer fly-fishing for salmon in Iceland	Living in Hong Kong made him sensitive to the limits on food , power and water supplies
+6	Living in Hong Kong made him sensitive to the limits on food , power and water supplies	At his first school in the U.S. he was thought a little strange for shutting off open water taps and admonishing his schoolmates to take only brief showers
+5	He and a Dartmouth roommate established a company that restored three hydroelectric power plants in Vermont	At Yale , he designed one of the first solarheated houses to be built in Ireland
+2	Since the 1970s energy crisis , some efforts to conserve energy by sealing buildings have had an unintended side effect : high indoor pollution	To reduce it at the fund 's building , workers rubbed beeswax instead of polyurethane on the floors in the executive director 's office
+5	workers rubbed beeswax instead of polyurethane on the floors in the executive director 's office	Jute , rather than a synthetic material , lies under the tacked-down carpets
+8	The budget was only $ 400,000	Athens with Spartan means
+8	Athens with Spartan means	The fund 's lawyers work in an Athenian grove of potted trees
+7	The fund 's lawyers work in an Athenian grove of potted trees	Economists and administrators sit along a `` boulevard '' with street lamps and ficus trees
+7	The fund 's lawyers work in an Athenian grove of potted trees.Economists and administrators sit along a `` boulevard '' with street lamps and ficus trees	In offices , triphosphorous bulbs simulate daylight
+7	The fund 's lawyers work in an Athenian grove of potted trees.Economists and administrators sit along a `` boulevard '' with street lamps and ficus trees.In offices , triphosphorous bulbs simulate daylight	Offices with outside windows have inside windows , too , to let in more real daylight
+2	I guess I did n't really notice the trees	Maybe they were hidden by all the people
+6	Neither the Quilted Giraffe nor the Paul Stuart renovation reflects much of Mr. McDonough 's environmental concern	The restaurant was conceived as a sparkling , crystalline `` geode
+2	The restaurant was conceived as a sparkling , crystalline `` geode	It makes extensive use of stainless steel , silver and aluminum that sets off black granite table tops and a gray terrazzo with zinc-strip floors
+5	Mr. McDonough thinks of the center as the `` Eiffel Tower of Warsaw '' and `` a symbol of the resurgence of Poland	If any nation can use environmentally benign architecture , it is Poland
+2	If any nation can use environmentally benign architecture , it is Poland	that perhaps a quarter of Poland 's soil is too contaminated for safe farming because of air pollution
+2	The future of the forest remains uncertain	Mr. Muniak 's company , Balag Ltd. , has agreed to set aside the money to plant and maintain it , but discussions are still going on over where to place it and how to ensure that it will be maintained
+4	in Poland there are n't too many people worried about the environment	They 're more worried about bread on the table
+1	Net sank to $ 3.1 million , or eight cents a share	In the year-ago quarter , net totaled $ 14.7 million , or 38 cents a share
+10	As a result , the group 's third-quarter loss widened to $ 9.8 million from the second quarter 's $ 3.6 million	Pittston continues to hire replacement workers
+2	and , traditionally , its mayor is the nation 's best-known urban politician	Democrats hoped that Mr. Dinkins could become a highly visible national leader
+1	Democrats hoped that Mr. Dinkins could become a highly visible national leader	Republicans figured that in Mr. Giuliani , the nation 's best-known prosecutor , they had a chance for a huge upset in the heart of Democratic territory
+1	Dinkins is a decent but sloppy guy	The alternative -- Giuliani -- is ghastly
+2	I guess we 'll reluctantly go ahead and do it , vote for Dinkins	There 's nothing on the other side
+2	For , just as Mr. Giuliani latches on to an issue that has Mr. Dinkins reeling , his campaign desperately needs cash to keep Mr. Ailes 's commercials on the air beyond Wednesday or Thursday	To help out this week , the White House is dispatching chief of staff John Sununu and three Cabinet members -- HUD 's Jack Kemp , Transportation 's Samuel Skinner and Treasury 's Nicholas Brady , according to Peter Powers , the Giuliani campaign manager
+6	But the trouble it faces now under Democratic rule seems bigger and more daunting than anything it has faced in the past	This year , the city faces a budget deficit that could become even bigger next year
+5	partly because he seemed to offer hope he could heal the city 's racial and ethnic wounds	His general-election campaign is almost Reagan-like , all muted pictures and comforting words
+5	His general-election campaign is almost Reagan-like , all muted pictures and comforting words	His theme is unity , decency , humanity , bringing New York together again
+8	The 45-year-old Mr. Giuliani has run a negative campaign to pick up votes leaning to Mr. Dinkins	He 's got to get Dinkins 's negatives up
+8	But our polls show voters do n't like the attack stuff	Why , even 20 % of the Republican vote is going to Dinkins
+9	and that he turned to comedian Jackie Mason for help with Jewish voters	Mr. Mason left the campaign after telling reporters Mr. Dinkins is `` a fancy 'shvartzer ' with a moustache
+6	Mr. Dinkins concedes nothing in his ability to stumble and bumble	He can match Jackie Mason with his own Robert `` Sonny '' Carson , an angry street organizer who was convicted of kidnapping in 1974
+0	The Dinkins campaign paid Mr. Carson close to $ 10,000 to get out the vote on primary-election day	Paper work on how it was spent is incomplete
+9	Mr. Carson has been charged with being anti-Semitic	Asked about that the other day , he replied , `` Anti-Semitic
+8	More troubling for Mr. Dinkins is his record in personal accounting	It began in 1973 , when he was being considered for deputy mayor , and a routine check unearthed the extraordinary fact that he had n't paid his income tax for the previous four years
+2	And now he 's busily trying to explain an arrangement in which he sold stock in Inner City Broadcasting Co. , headed by his old friend and patron , Percy Sutton , to his son , David Dinkins Jr. , for $ 58,000	He had valued the shares at more than $ 1 million two years earlier
+1	And now he 's busily trying to explain an arrangement in which he sold stock in Inner City Broadcasting Co. , headed by his old friend and patron , Percy Sutton , to his son , David Dinkins Jr. , for $ 58,000	He had valued the shares at more than $ 1 million two years earlier
+5	He says he sold the stock to avoid conflict-of-interest problems in his role as a voting member of the city 's Board of Estimate	He says his son has n't paid for the shares
+5	It looks like serious tax evasion	It follows the same pattern as his tax returns
+8	It follows the same pattern as his tax returns	He waits to talk about it until after he gets caught
+3	He simply has n't explained why something worth a million dollars ended up worth $ 58,000 two years later	It 's ludicrous for him to suggest it 's the difference between the 'breakup ' value of the shares and their market value
+2	The crime goes to character	It 's serious stuff
+5	He evades and ducks	He 's had a history of deception and this is the latest chapter
+2	It makes people think , maybe this guy is n't so squeaky clean after all	The result may turn out to be a lot closer than people think
+9	Most of the money was lent to a series of shell companies in Panama and Luxembourg that were owned , directly or indirectly , by the Vatican bank	The Vatican paid $ 250 million to the Milan bank 's creditors as a `` goodwill gesture '' in 1985
+2	Most of the money was lent to a series of shell companies in Panama and Luxembourg that were owned , directly or indirectly , by the Vatican bank	The Vatican paid $ 250 million to the Milan bank 's creditors as a `` goodwill gesture '' in 1985
+5	Italian news reports said Mr. Carboni and a colleague obtained 1.2 billion lire in checks from a Vatican official , Pavel Hnilica	Italian papers speculated the briefcase contained papers either exonerating the Vatican bank from blame in the scandal , or showing that the bank , known as the Istituto per le Opere di Religione , channeled funds to East bloc groups such as Solidarity in Poland
+5	that it welcomes the investigation and that it will `` cooperate fully	he hoped to pursue legal action against those responsible
+8	On Saturday , the partners said the team would be purchased for $ 54 million by a new group including Comsat Video Enterprises Inc. , a unit of Communications Satellite Corp. based here	Comsat Video will pay $ 17 million for a 62.5 % interest , with Messrs.Lee and Bynoe putting up $ 8 million for a 37.5 % stake in the team
+5	Comsat Video will pay $ 17 million for a 62.5 % interest , with Messrs.Lee and Bynoe putting up $ 8 million for a 37.5 % stake in the team	Under terms of the sale , Nuggets owner Sidney Shlenker could receive up to $ 11 million in additional payments from the franchise 's future earnings
+5	Royal contends that Realist failed to disclose material information , including Realist 's negotiations to acquire Ammann Laser Technik AG , to stockholders prior to Realist 's June 6 annual meeting	Royal 's suit contends that the Ammann acquisition was `` designed to entrench management and thwart Royal 's offer
+1	it had a loss of $ 11.3 million , or 46 cents a share , in the quarter ended Aug. 26	A year earlier , the company had a deficit of $ 1.5 million , or six cents a share
+2	The year was already shaping up as a difficult one for the recreational vehicle industry	With the exception of van conversions , the industry has seen a decline from 1988 's robust sales
+5	Winnebago was hit especially hard in the latest downturn because unit sales in its bread-and-butter motor home business tumbled 25 % industrywide in August , and 10.4 % in the first eight months of the year	it also suffered in the quarter from incentive programs , losses from discontinuing a motor home line and costs of developing a new commercial vehicle , among other things
+2	The dividend cut will prove most costly for John K. Hanson , Winnebago 's founder and chairman	Based on his control of about 45 % of Winnebago 's 24.7 million shares , his annual dividend income would be cut to about $ 2.2 million from $ 4.4 million
+5	For the year , Winnebago had a loss of $ 4.7 million , or 19 cents a share , following profit of $ 2.7 million , or 11 cents a share , a year earlier	Sales rose 2 % to $ 437.5 million from $ 430.3 million
+1	For the year , Winnebago had a loss of $ 4.7 million , or 19 cents a share , following profit of $ 2.7 million , or 11 cents a share , a year earlier	Sales rose 2 % to $ 437.5 million from $ 430.3 million
+2	Recent data have indicated somewhat weaker economic activity	that `` the near-term direction of bond prices is likely to remain upward
+8	many of whom were badly burned in the third quarter by incorrectly assuming that the Fed would ease	Investors rushed to buy bonds during the summer as prices soared on speculation that interest rates would continue to fall
+8	Investors rushed to buy bonds during the summer as prices soared on speculation that interest rates would continue to fall.But when it became clear that rates had stabilized and that the Fed 's credit-easing policy was on hold , bond yields jumped and prices tumbled	Long-term bonds have performed erratically this year
+2	it means `` that the Fed has a little leeway to ease its credit policy stance without the risk of rekindling inflation	we will see a federal funds rate of close to 8 1/2 % in the next two weeks and 8 % by year end
+9	that the rate was lowered by the Fed from around 9 % , where it had been since July , to about 8 3/4 % in early October on the heels of a weak employment report	it ended Friday at about 8 11/16 %
+5	that the rate was lowered by the Fed from around 9 % , where it had been since July , to about 8 3/4 % in early October on the heels of a weak employment report	it ended Friday at about 8 11/16 %
+8	James Kochan , chief fixed-income strategist at Merrill Lynch , is touting shorter-term securities	Given our forecast for lower rates , purchases made now should prove quite rewarding before year end
+2	Mr. Kochan also likes long-term , investment-grade corporate bonds and long-term Treasurys	these bonds should appreciate in value as some investors seek safer securities
+8	these bonds should appreciate in value as some investors seek safer securities	If the { Tennessee Valley Authority } sale is any guide , there appears to be good demand for top-quality , long-term paper from both domestic and overseas accounts
+8	when the U.S. government will auction more than $ 30 billion of new securities	Today , the Treasury Department will sell $ 15.6 billion of three-month and six-month bills at the regular weekly auction
+5	Today , the Treasury Department will sell $ 15.6 billion of three-month and six-month bills at the regular weekly auction	Tomorrow , the Treasury will sell $ 10 billion of two-year notes
+5	Resolution Funding Corp. , known as Refcorp , a division of a new government agency created to bail out the nation 's troubled savings and loan associations , will hold its first bond auction Wednesday , when it will sell $ 4.5 billion of 30-year bonds	All of this comes ahead of the government 's big quarterly refunding of the federal debt , which takes place sometime in November
+2	Why should I bother with something that 's an unknown for a very small pickup in yield	I 'm not going to jump on them the first day they come out
+5	When the size of the Refcorp offering was announced last week and when-issued trading activity began , the bailout bonds were yielding about 1/20 percentage point more than the Treasury 's benchmark 30-year bond	On Friday , the yield was quoted at about 1/4 percentage point higher than the benchmark bond , an indication of weak demand
+9	When the size of the Refcorp offering was announced last week and when-issued trading activity began , the bailout bonds were yielding about 1/20 percentage point more than the Treasury 's benchmark 30-year bond	On Friday , the yield was quoted at about 1/4 percentage point higher than the benchmark bond , an indication of weak demand
+2	The supply is not a constraint to the market	If one thinks that rates are going down , you do n't care how much supply is coming
+0	Also providing support to Treasurys was hope that the stock market might see declines because of the expiration of some stock-index futures and options on indexes and individual stocks	Those hopes were dashed when the stock market put in a relatively quiet performance
+6	Treasury bonds ended with losses of as much as 1/4 point , or about $ 2.50 for each $ 1,000 face amount	The benchmark 30-year bond ended at 101 17/32
+5	The benchmark 30-year bond ended at 101 17/32	The yield on the benchmark bond rose slightly to 7.98 % from 7.96 %
+5	they expect to price a $ 150 million , 12-year senior subordinated debenture offering by Imo Industries Inc	Traders expect the issue to be priced to yield 12 %
+2	There are about a dozen more deals coming	If they had this much trouble with Chicago & North Western , they are going to have an awful time with the rest
+8	And pressure by big investors forced Donaldson Lufkin & Jenrette Securities Corp. to sweeten Chicago & North Western 's $ 475 million junk bond offering	After hours of negotiating that stretched late into Thursday night , underwriters priced the 12-year issue of resettable senior subordinated debentures at par to yield 14.75 % , higher than the 14.5 % that had been expected
+5	to yield 14.75 % , higher than the 14.5 % that had been expected	The coupon on the issue will be reset in one year at a rate that will give the issue a market value of 101
+8	The coupon was raised to induce some of the big players on the fence to come in	We put a price on the deal that the market required to get it done
+8	The Dorrance estate included porcelains , furniture and paintings	An Henri Matisse fetched $ 12.4 million , a world record for the artist
+5	The settlement stems from charges that Better Book , now defunct , made misrepresentations in selling advertising for the directories and memberships in the bureau from 1984 to 1986	Without admitting any guilt , the bureau agreed to several conditions if it again contracts with an outside firm to publish its directories
+9	The Attorney General 's investigation was sparked by lawsuits and charges by angry California businesspeople that they were swindled in a bureau-sponsored directory project contracted by Better Book	The uproar led to the closing of the Los Angeles Better Business Bureau in late 1987
+8	it obtained `` firm '' financing commitments from three major banks in regard to its offer for 50.3 % of LIN Broadcasting Corp	Morgan Guaranty Trust , Toronto-Dominion Bank and Provident National Bank , an affiliate of PNC Financial Corp. , jointly committed $ 1.2 billion of financing , subject to certain conditions
+5	The official Xinhua News Agency said the municipal government was discussing a draft bill to give the capital its first anti-prostitution statutes	It quoted Liu Changyi , deputy director of the Beijing Public Security Bureau , as saying that there were many more people involved in prostitution now than in 1985 , when there were about 100 cases
+2	Earlier , Japan had said it might file a reservation against the ivory ban decided by ballot at the 103-nation United Nations Conference on International Trade in Endangered Species in Switzerland last week	The Japanese use 40 % of the world 's ivory
+8	Italy should close the Leaning Tower of Pisa because it 's a danger to tourists	In some places the stonework is so damaged it shows signs of breaking off
+5	East Germany pledged to reduce alcohol consumption by boosting production of soft drinks and fruit juices	that the rise in alcohol consumption in East Germany had been halted
+5	but to reduce it further production and supply of other beverages , including fruit juices , should be stepped up	that shops will have to continue reducing their stocks of liquor and avoid displaying them too prominently in the window
+8	Sweating under the glare of newly installed television lights , British members of Parliament demanded a halt to the experimental televising of debates	A group of senior Conservative legislators , complaining the House of Commons was like a sauna , demanded that the experiment be stopped unless the intensity of the lights is reduced
+5	A group of senior Conservative legislators , complaining the House of Commons was like a sauna , demanded that the experiment be stopped unless the intensity of the lights is reduced	One Conservative MP , David Wilshire , said : `` I should have a wonderful suntan by Christmas
+8	Instead , many small and medium-sized banks , and some larger ones , are likely to take one of the other two options open to them under the plan	The plan calls for banks either to make new loans or to reduce the principle on existing loans or to cut the interest rate on those existing loans
+2	that since some larger banks have already taken loss provisions for loans to other Third World nations , further write-offs could be viewed as intolerable	They ca n't take the hit '' to their earnings
+5	A poll in male-dominated South Korea put Margaret Thatcher first on a list of most-respected foreign leaders	The British prime minister was the only woman singled out by respondents
+1	That would require fourth-quarter net of more than about 22 cents to 24 cents a share	In the year-earlier fourth quarter , the company had profit of $ 2.7 million , or 15 cents a share
+8	Third-quarter revenue is expected to be $ 40 million to $ 45 million , up from $ 38.2 million a year earlier , according to Neil Gordon , treasurer	The year-earlier periods do n't reflect results of the company 's Woodstream Corp. unit , acquired last January , but include some Canadian operations that were sold at the end of 1988
+5	tighter operating controls have enabled Ekco to reduce inventory levels 25 % to 30 % ; improve on-time delivery of orders to about 95 % from around 70 % ; and to lower the number of labor hours required to produce a unit	By moving the design of new products in-house the company also has been able to come up with designs that can be manufactured more efficiently
+8	Ekco continues to seek further acquisitions in the consumer-products industry	that Ekco may be interested in acquiring another company with revenue in the range of $ 75 million to $ 100 million
+2	Last year 's retrenchment dried up the working capital of Chinese factories	The company 's sales flattened during 1989 's first half
+5	The June killings magnified the problems	In Canton , Givaudan 's representative office received no orders in June
+5	Things have grown worse since June 4 , '' Mr. Lai says	He predicts that sales will drop between 30 % and 40 % from last year 's $ 3 million
+2	The import pie will shrink	On the down side , sales could fall as much as 90 % for some companies ; on the upper side , sales will be flat
+2	Import growth from the year-earlier months slowed to 16 % in July and 7.1 % in August , compared with an average growth rate of 26 % in the first half	In the first eight months of 1989 , imports grew 21 % , to $ 38.32 billion , down slightly from a growth rate of 23 % a year earlier
+8	The picture for China 's exports is just as bleak , mainly because of the domestic credit squeeze	Exports in the first eight months grew only 9 % , to $ 31.48 billion , compared with a growth rate of 25 % a year earlier , according to Chinese customs figures
+8	The threat to China 's balance of payments is further aggravated by the plunge in its foreign-exchange reserves , excluding gold holdings	The reserves dropped for the first time in recent years , to $ 14 billion in June from $ 19 billion in April
+2	The trend has prompted Beijing to intensify efforts to curb imports	In recent weeks , China 's leaders have recentralized trading in wool and scores of chemical products and commodities
+5	In recent weeks , China 's leaders have recentralized trading in wool and scores of chemical products and commodities	The Ministry of Foreign Economic Relations and Trade set up a special bureau last month to monitor the issue of import and export licenses
+1	For example , Nissho Iwai Corp. , one of the biggest Japanese trading houses , now buys almost twice as many goods from China as it sells to that country	Three years ago , the ratio was reversed
+2	But the strategy is n't helping much this time	Both sectors of imports and exports look just as bad
+2	Both sectors of imports and exports look just as bad	He expects the company 's trading business to drop as much as 40 % this year
+10	For a short time after June 4 , it appeared that the trade picture would remain fairly bright	Many foreign trading offices in Hong Kong were swamped with telexes and telephone calls from Chinese trade officials urging them not to sever ties
+2	For a short time after June 4 , it appeared that the trade picture would remain fairly bright	Many foreign trading offices in Hong Kong were swamped with telexes and telephone calls from Chinese trade officials urging them not to sever ties
+5	Many foreign trading offices in Hong Kong were swamped with telexes and telephone calls from Chinese trade officials urging them not to sever ties	Even the Bank of China , which normally took weeks to process letters of credit , was settling the letters at record speed to dispel rumors about the bank 's financial health
+2	But when foreign traders tried to do business , they discovered that the eagerness of Chinese trade officials was just a smokescreen	The suspension of foreign loans has weakened the buying power of China 's national trading companies , which are among the country 's biggest importers
+2	Sitco had customarily tapped the Japanese bond market for funds , but it ca n't do that any longer	the company is strapped for cash
+2	It has difficulties paying its foreign debts	How can it make available funds for purchases
+8	many of China 's big infrastructural projects have been canceled or postponed because of the squeeze on domestic and foreign credit	that as many as 70 % of projects that had obtained approval to proceed have been canceled in recent months
+2	that as many as 70 % of projects that had obtained approval to proceed have been canceled in recent months	There are virtually no new projects , and that means no new business for us
+9	Another reason for the intensity of the trade problems is that Beijing has extended the current clampdown on imports beyond the usual target of consumer products to include steel , chemical fertilizers and plastics	These have been among the country 's leading imports , particularly last year when there were shortages that led many traders to buy heavily and pay dearly
+2	But the shortages also spawned rampant speculation and spiraling prices	To stem speculation , Beijing imposed ceiling prices that went into effect earlier this year
+2	To stem speculation , Beijing imposed ceiling prices that went into effect earlier this year	Traders who had bought the goods at prices above the ceiling do n't want to take a loss on resales and are holding onto their stock
+2	But Beijing ca n't cut back on such essential imports as raw materials for too long without hampering the country 's export business	that as much as 50 % of Guangdong 's exports is made up of processed imported raw materials
+2	On July 2 , 1987 , the tanker S.S. Glacier Bay struck a rock and spilled almost 150,000 gallons of oil into the Cook Inlet	Commercial fishermen and fish processors filed suit in federal court in a claim that has ballooned to more than $ 104.8 million
+9	The fund was created by the Trans-Alaska Pipeline Act , which provides that the owner or operator of a vessel involved in an oil spill must pay the first $ 14 million in damages	The fund is required to pay claims up to an additional $ 86 million
+2	But the Glacier Bay case , the fund 's first test , shows how easily the fund can be undermined	Trinidad Corp. is contesting liability
+8	Trinidad Corp. is contesting liability	It claims the Coast Guard failed to chart the rock and refuses to pay damages
+5	The Oil Pollution Act , scheduled to come up for a vote in Congress this fall , would provide that if claimants are n't paid within 90 days of a spill , the liability fund would compensate them and seek reimbursement from the owner or operator of the vessel , says a spokesman for Rep. George Miller ( D. , Calif. ) , a sponsor of the bill	The spokesman says the `` glitch '' in the statute is `` the worst kind of Catch-22
+2	Bar associations and consultants are offering more programs to teach associates all they need to know about law but did n't learn in law school	Law school teaches wonderful theory , but it does n't teach the nuts and bolts of practical lawyering
+6	Many law firms sponsor their own programs	At the Baltimore firm of Weinberg & Green , new corporate and banking associates are required to enroll in a 20-class course
+8	At the Baltimore firm of Weinberg & Green , new corporate and banking associates are required to enroll in a 20-class course	Partners lecture on how to form corporations , draft agreements and defend clients against unwanted tender offers
+7	Designs call for an L-shaped structure with a playground in the center	There will be recreation and movie rooms
+7	Designs call for an L-shaped structure with a playground in the center.There will be recreation and movie rooms	Teens will be able to listen to music with headsets
+7	Designs call for an L-shaped structure with a playground in the center.There will be recreation and movie rooms.Teens will be able to listen to music with headsets	Study halls , complete with reference materials , will be available
+7	The building 's 25 courtrooms will be smaller	The bench will be lower so the judge seems less intimidating , and walls will be painted in bright colors and covered with murals
+8	That 's the conclusion of a recent study of large law firms conducted by Altman & Weil Inc. , an Ardmore , Pa. , law firm consultant	Its survey of 96 firms , each with 100 to 1,000 lawyers , shows that managing partners earned an average of $ 395,974 in compensation and cash benefits in the firms ' 1988 fiscal years
+5	The measure is scheduled to be taken up by the Appropriations Committee today	The panel is expected to add provisions waiving restrictions on the use of federal highway funds and may also shift money within the package to bolster the share for the Small Business Administration
+2	Dubbed the `` Dire Emergency Supplemental to Meet the Needs of Natural Disasters of National Significance , '' the measure is vintage Whitten in asserting federal responsibility and in disdaining budget impediments	Such other amounts will be made available subsequently as required , '' the legislation reads , and the new obligations `` shall not be a charge against the Budget Act , Gramm-Rudman-Hollings , or other ceilings
+0	Moody 's Investors Service Inc. said it lowered the ratings of some $ 145 million of Pinnacle debt because of `` accelerating deficiency in liquidity	Henry Sargent Jr. , Pinnacle executive vice president , said the action `` wo n't really have any effect on us
+2	the action `` wo n't really have any effect on us	We are n't selling bonds right now , and I do n't think it will affect the value of our existing bonds
+10	it also lowered the ratings of $ 70 million of Pinnacle 's MeraBank thrift unit long-term deposits to B-3 from B-2 , and on its subordinated debt to Ca from Caa	MeraBank 's rating for short-term deposits remains Not Prime
+5	it also lowered the ratings of $ 70 million of Pinnacle 's MeraBank thrift unit long-term deposits to B-3 from B-2 , and on its subordinated debt to Ca from Caa	MeraBank 's rating for short-term deposits remains Not Prime
+2	To judge from novels that mirror the contemporary scene , we 're back in the age of anxiety	Where '60s dropouts professed to scorn middle-class life and ambitious yuppies hoped to leave it far behind as they scaled the upper reaches of success , it now seems that so many people feel they 're slipping between the cracks , that middle-class life is viewed with nostalgia or outright longing
+5	Malcolm , a former film-maker turned architect , has just seen his first big chance at a lucrative commission turn to dust with the arrest of his shady , obnoxious client , a fly-by-night real estate developer	Nora , who still has artistic aspirations , knows she is lucky to be working as a food stylist , prepping pies , burgers , frosty cold drinks and other comestibles to look as appetizing as possible in front of the camera
+10	Malcolm , a former film-maker turned architect , has just seen his first big chance at a lucrative commission turn to dust with the arrest of his shady , obnoxious client , a fly-by-night real estate developer	Nora , who still has artistic aspirations , knows she is lucky to be working as a food stylist , prepping pies , burgers , frosty cold drinks and other comestibles to look as appetizing as possible in front of the camera
+2	Nora , who still has artistic aspirations , knows she is lucky to be working as a food stylist , prepping pies , burgers , frosty cold drinks and other comestibles to look as appetizing as possible in front of the camera	After all there were housewives with Nikons and degrees from cooking schools in France who would kill for her job
+2	But Nora and Malcolm feel trapped	They seem to be having the `` worst of both worlds
+5	It 's a downbeat , `` thirtysomething '' world , in which bright , still youngish people are engaged in a glossy version of day labor , doing free-lance , semi-professional work that brings little satisfaction or security but that they know they should be grateful to do	Uncertainty dogs every aspect of their lives
+6	Uncertainty dogs every aspect of their lives	Malcolm faces bankruptcy and an IRS audit , but Nora finds an extra $ 30,000 in her bank account , suddenly increasing her available funds some fifteenfold
+9	but Nora finds an extra $ 30,000 in her bank account , suddenly increasing her available funds some fifteenfold	While she is wondering whether to live it up , and do something even more dramatic , say get married , her life is further complicated by the reappearance of an old flame , David , a film critic and actor who always seems to be just on the brink of stardom
+2	that neither man represents a `` safe '' middle-class haven	Nora 's decision is between emotional excitement and emotional security , with no firm economic base anywhere
+8	Nora 's decision is between emotional excitement and emotional security , with no firm economic base anywhere	The characters confront a world in which it seems increasingly difficult to find a `` middle way '' between the extremes of success and failure , wealth and poverty
+2	In making Malcolm and Nora such wonderfully representative specimens of their class and generation , Ms. Zeidner has somewhat neglected the task of making them distinctively individual characters	The humor of the story owes much to the fact that no hearts ( even the characters ' own ) are likely to bleed for the plight of health-food eaters
+6	In any case , the foundering middle classes are n't the only ones in trouble -- or whose troubles provide material for fiction	Rascal Money '' ( Contemporary Books , 412 pages , $ 17.95 ) , a novel by consultant and business analyst Joseph R. Garber , tells the story of an innovative , well-run , widely respected computer manufacturing company called PegaSys as it faces a hostile takeover attempt by AIW , a much smaller corporation that is so incompetently managed as to constitute a standing joke in the business world
+2	Mr. Garber depicts these moral qualities with the broad brush strokes of a satire that occasionally descends to the realm of cliched caricatures	Standard-issue portraits of flaky Californians , snobbish homosexuals and Neanderthal union leaders undermine the force of the author 's perceptions
+2	Yet the heavy-handedness of the satire also can be effective in a book like this	If the head of AIW were not portrayed as an utterly contemptible , malicious dolt , we would not much care whether his schemes were defeated , and would not be so diverted in the process
+2	High-definition television promises to be the TV of tomorrow , so it is a natural multibillion-dollar market	Although major U.S. manufacturers have all but ceded the main segment of that future business to Japan , not everyone here is ready to give up
+5	High-definition television promises to be the TV of tomorrow , so it is a natural multibillion-dollar market	Although major U.S. manufacturers have all but ceded the main segment of that future business to Japan , not everyone here is ready to give up
+5	Planar Systems Inc. of Beaverton , Ore. , the largest of these firms , with $ 20 million in annual revenue , has similar plans	It already has had success in electroluminescence , another promising technology adaptable for high-definition television
+6	But except for Zenith Electronics Corp. and International Business Machines Corp. , which is collaborating with Toshiba on computer displays , they are poorly positioned to exploit advances in large panels	General Electric Co. recently sold off its interests in liquid-crystal displays to Thompson-CSF of France
+2	General Electric Co. recently sold off its interests in liquid-crystal displays to Thompson-CSF of France	We found the market not developing as we thought it would
+2	The small U.S. firms are persisting because of their strong positions in patents , and because the prize is still there to be seized	No one yet has shown the ability to manufacture these panels '' at commercial costs
+5	The Bush administration , hearing conflicting advice about what its role in HDTV should be , is n't doing much for now	The only material support it is extending to the struggling U.S. industry is $ 30 million in awards from the Pentagon 's Defense Advanced Research Projects Agency
+2	The DARPA funds are a pittance compared with what Japan and other prospective competitors are spending	that Japanese government and industry spending on HDTV research is already over $ 1 billion
+2	In 1979 , however , Westinghouse abandoned the project along with its stake in advanced television	Mr. Brody left the company to find other backers
+2	Most American investors have just given up	They are n't prepared to compete in an area where the Japanese want to enter
+8	the Pentagon justifies its help on national-security grounds	We do n't see a domestic source for some of our { HDTV } requirements , and that 's a source of concern
+2	and transmitting information to combat commanders	The Navy is ordering displays for its Aegis cruisers and the Army wants smaller versions for its Abrams battle tanks
+2	The Commerce Department also is trying to encourage HDTV because of the benefits that could spin off to the semiconductor and computer industries	It is n't just yuppie television
+2	It is n't just yuppie television	The industry will create industrial products such as displays for work stations and medical diagnostic equipment before it acquires a mass consumer market
+2	the small firms simply would prefer more DARPA funds	Each claims to possess the right technology and wants just a bit more money to make it commercial
+2	They also want U.S. trade policy to reflect the Pentagon and Commerce department 's concern over their future	They all are strongly opposed to a petition from several Japanese TV manufacturers , including Matsushita , Hitachi , and Toshiba , to exempt portable color TVs with liquid-crystal displays from anti-dumping duties that the U.S. imposes on the larger Japanese color TVs
+2	And they want the U.S. to help them sell overseas	Planar President James Hurd says he has to pay tariffs as high as 15 % to sell his display panels in Japan and South Korea , while panels from those countries enter the U.S. duty-free
+8	This is n't a technology issue , but an attitude issue	We just have n't learned what it takes to compete
+5	The official , John DeVillars , asked Clean Harbors for more information before ruling on a permit for the site	Critics of the plan , including the town of Braintree , say the incinerator is a health hazard
+5	Clean Harbors , based in Quincy , said it `` will proceed expeditiously '' to submit the data requested	Alan McKim , chief executive officer of Clean Harbors said he was `` very much encouraged '' by the official 's praise of Clean Harbors for the quality of some of the data in the report
+1	Citizens , based in Atlanta , said it has about $ 4.6 billion in factored sales annually	the Security Pacific unit has about $ 1.8 billion annually
+1	Indeed , the OTS said that before the law took effect Aug. 9 , it banned another `` key Vision Banc insider '' from insured financial institutions	That individual was n't identified
+1	For the nine months , the company expects to post a net loss of about $ 879,000 , or 35 cents to 40 cents a share , on revenue of $ 6.5 million	A year earlier , it had a loss of $ 199,203 or nine cents a share , on revenue of $ 7.6 million
+2	At least , that 's a theme emerging among many money managers who are anxious both to preserve the handsome stock-market gains they have already achieved this year and to catch the next wave of above-average performers	They are starting to buy growth stocks
+6	when corporate profits overall have been weakening from the brisk increases of recent years	The current flood of third-quarter reports are producing many more negative surprises than positive ones
+5	Growth stocks also are attractive in periods of market volatility	This kind of jumpy uncertainty reminds John Calverley , senior economist for American Express Bank , of the 1969-72 period
+6	And they will again , say money-manager proponents of the growth-stock theme	Cabanne Smith predicts that investment companies using computers to identify companies with earnings `` momentum '' will climb on the growth-stock bandwagon as the overall corporate earnings outlook deteriorates further
+8	Ronald Sloan likes Wellman Inc	Mr. Sloan praises the company as recession resistant and notes that it has an annual earnings growth rate of 32 % a year over the past five years
+5	Wellman stock closed Friday at 39 3/8 , up 1/8	Mr. Sloan thinks that in a year it could hit 60
+2	Carmine Grigoli , chief market strategist for First Boston , who still says , `` We expect the Dow average { to be at } 3000 by mid-1990 , '' nonetheless foresees a sluggish economy in the meantime	He recommends such blue-chip growth stalwarts as Philip Morris , PepsiCo , CPC International , Reebok International , and Limited Inc
+2	He recommends such blue-chip growth stalwarts as Philip Morris , PepsiCo , CPC International , Reebok International , and Limited Inc	All have a fiveyear earnings growth rate of more than 20 % a year
+2	Some money managers are pursuing growth stocks at the expense of those that rise and fall along with the economic cycle	One of the stories of the fourth quarter is that we will get an unusual number of earnings disappointments from companies sensitive to the economy
+8	We 've been selling a disproportionate share of cyclical companies and buying a disproportionate share of high earnings stocks	He recently trimmed his portfolio of International Paper , Dow Chemical , Quantum Chemical , International Business Machines and Digital Equipment
+4	He recently trimmed his portfolio of International Paper , Dow Chemical , Quantum Chemical , International Business Machines and Digital Equipment	He is putting money in Dress Barn , Circuit City Stores , Bruno 's , and Rubbermaid
+6	Big cyclical companies are using `` all the tricks they can to stabilize earnings	IBM , which reported a 30 % earnings decline in the third quarter , and which last week announced a $ 1 billion buy-back of its shares
+8	What they are telling you is that they do n't have the ability to generate higher returns internally	When they are buying back stock at 10 times earnings , they are suggesting that the rate of return on competing internal projects is below '' returns on the stock
+2	But not all strategists or money managers are ready to throw in the towel completely on cyclicals	Growth stocks may underperform cyclical stocks next year if the Federal Reserve begins to let interest rates drift sufficiently lower to boost the economy
+2	Goldman Sachs 's Mr. Einhorn , for one , subscribes to that scenario	He suggests investors think about buying cyclical shares in the weeks ahead , as well as growth issues
+7	As a result , the Dow Jones Industrial Average drifted in narrow ranges in the final hour of trading , and closed 5.94 higher to 2689.14	New York Stock Exchange volume was 164,830,000
+7	New York Stock Exchange volume was 164,830,000	Advancers on the Big Board lagged decliners 662 to 829
+8	Broader market averages were little changed in the latest session	Standard & Poor 's 500-Stock Index gained 0.03 to 347.16 , the Dow Jones Equity Market Index fell 0.02 to 325.50 , and the New York Stock Exchange Composite Index fell 0.05 to 192.12
+8	That contrast was reflected in the smaller weekly percentage gains recorded by the broader averages	The S & P 500 rose 4 % , the Dow Jones Equity Market index gained 3.7 % and the New York Stock Exchange composite index added 3.5 %
+8	UAL skidded 21 5/8 to 168 1/2 on 2.2 million shares	On the week , UAL was down nearly 40 %
+8	Paper and forest-products stocks declined after Smith Barney , Harris Upham & Co. lowered investment ratings on a number of issues in the two sectors , based on a forecast that pulp prices will fall sharply	International Paper dropped 5/8 to 51 , Georgia-Pacific fell 1 3/4 to 56 1/4 , Stone Container tumbled 1 1/2 to 26 5/8 , Great Northern Nekoosa went down 5/8 to 38 3/8 and Weyerhaeuser lost 7/8 to 28 1/8
+5	Dun & Bradstreet dropped 3/4 to 51 1/8 on 1.9 million shares on uncertainty about the company 's earnings prospects	Merrill Lynch cut its rating and 1990 earnings estimate Thursday , citing weakness in its credit-rating business
+9	Winnebago Industries slid 5/8 to 5 1/4	The company , which reported that its loss for the fiscal quarter ended Aug. 26 widened from a year earlier , cut its semiannual dividend in half in response to the earnings weakness
+5	Stockholders may buy one share at the subscription price for every four shares of stock they own	Stockholders who exercise all their rights may buy additional shares
+5	Stockholders who exercise all their rights may buy additional shares	it has an option to increase the offering by up to 350,000 shares
+8	it filed a shelf registration with the Securities and Exchange Commission for issuance of as much as $ 750 million of debt securities	The debt will include medium-term notes sold through Merrill Lynch Capital Markets ; Drexel Burnham Lambert Inc. ; Goldman , Sachs & Co. and Salomon Brothers Inc
+8	The suit , which seeks class-action status , was filed in Delaware Chancery Court	The complaint alleges that the price is `` unfair and grossly inadequate '' and that the defendants are seeking to ensure a `` lockup '' of the purchase of Unitel , thereby discouraging other bids
+5	The complaint alleges that the price is `` unfair and grossly inadequate '' and that the defendants are seeking to ensure a `` lockup '' of the purchase of Unitel , thereby discouraging other bids	It seeks unspecified money damages
+5	the reduced dividend reflects the low price for precious metals	losses for the fiscal year ending Oct. 31 could be as high as one million Canadian dollars ( US $ 852,000 )
+5	Comair Holdings Inc. said in Cincinnati that it bought Airline Aviation Academy , a pilot training school based at Sanford Regional Airport near Orlando , Fla	Comair said it paid cash but declined to disclose the price
+8	the stock is worth somewhere between $ 135 and $ 150 a share	That 's based on a multiple of anywhere between 8.5 to 10 times UAL earnings
+2	that the UAL pilots and management can put together a bid `` in the $ 225 area , '' but that it could take three to four months to close	At that level , and given the uncertainty , he believes UAL stock should trade closer to
+2	that UAL 's board , having accepted a bid of $ 300 a share , might hold out for a new bid much closer to the original level -- even if it means that the management goes back to running the company for a while and lets things return to normal	By that logic , the closing of a deal could be much further away than three to four months
+5	The pilots have a strong financing tool in their willingness to cut their annual compensation by $ 200 million , and to commit $ 200 million from their retirement funds	On Friday , they also persuaded the UAL flight attendants to join them
+2	Banks want to see someone putting up real cash at risk , that is , subordinate to the bank debt in any deal	That way someone else has an even stronger motivation to make sure the deal is going to work , because they would be losing their money before the banks lost theirs
+2	One obstacle to the pilots ' finding such a huge amount of cash is their insistence on majority ownership	Investors such as Marvin Davis of Los Angeles who have sought airline ownership this year have insisted they , not the pilots , must have control
+9	One way out of that dilemma could be a partial recapitalization in which the pilots would wind up sharing the value of their concessions with public shareholders	The pilots could borrow against the value of their concessions , using the proceeds to buy back stock from the public and give themselves the majority control they have been seeking
+2	But it is n't clear that banks would lend sufficient money to deliver a big enough price to shareholders	The lack of any new cash probably would still leave the banks dissatisfied
+2	Using the the NWA takeover as a benchmark , First Boston on Sept. 14 estimated that UAL was worth $ 250 to $ 344 a share based on UAL 's results for the 12 months ending last June 30 , but only $ 235 to $ 266 based on a management estimate of results for 1989	First Boston 's estimates had been higher before management supplied a 1989 projection
+6	Unfortunately , all those estimates came before airline industry fundamentals deteriorated during the past month	American Airlines parent AMR and USAir Group , both subject to takeover efforts themselves , have each warned of declining results
+2	Some analysts do n't expect a quick revival of any takeover by the pilots	The deal has so many moving parts
+2	The deal has so many moving parts	I do n't see anybody who 's sophisticated getting his name associated with this mess until the moving parts stop moving
+7	that takeover stock traders own UAL stock and options equal to as many as 6.5 million shares , or about 30 % of the total outstanding	that the arbs paid an average of about $ 280 a share for their UAL positions
+2	that the arbs paid an average of about $ 280 a share for their UAL positions	That would indicate that the arbs have paper losses on UAL alone totalling $ 725 million
+5	For the nine months , Eastern had net income of $ 41.8 million , or $ 1.80 a share , up 23 % from $ 33.9 million or $ 1.46 a share a year ago	Revenue grew 24 % to $ 614.5 million from $ 497.1 million
+5	Net was $ 3.1 million , or 16 cents a share , up from $ 1.6 million , or nine cents a share	Revenue was $ 41.2 million , up from $ 27.5 million
+5	For the nine months , net was $ 7.7 million , or 41 cents a share , up 97 % from $ 3.9 million , or 22 cents a share , a year earlier	Revenue was $ 111.9 million , up 50 % from $ 74.8 million
+5	Convex makes supercomputers that sell for up to $ 2 million and has an installed base of more than 550 systems and 340 customers world-wide	During the third quarter , it said , it won several significant contracts , including a five-year contract with the National Institutes of Health valued at an estimated $ 8 million
+8	Earlier this month , Convex made a bid to outflank other supercomputer competitors like Digital Equipment Corp. and International Business Machines Corp. by adopting an open set of standards and introducing new hardware and software to link different systems	The new products allow customers to add Convex machines to established systems made by other manufacturers
+9	Interpublic approached Saatchi in August about buying its Campbell-Mithun-Esty unit , but was turned down by Chairman Maurice Saatchi	More recently , Interpublic inquired about one of Saatchi 's smaller communications companies but again was rebuffed
+8	The offers come as Saatchi is struggling through the most troubled period in its 19-year history	Takeover speculation has been rife , its consulting business is on the block , and its largest shareholder , Southeastern Asset Management , has said it 's been approached by third parties regarding a possible restructuring
+5	Takeover speculation has been rife , its consulting business is on the block , and its largest shareholder , Southeastern Asset Management , has said it 's been approached by third parties regarding a possible restructuring	Analysts have continually lowered their earnings estimates for the company , and their outlook , at least for the short term , is bleak
+7	In the midst of the current turmoil , Saatchi is attempting to shore up its ad businesses	It named a new chief executive officer , former IMS International head Robert Louis-Dreyfus
+9	It named a new chief executive officer , former IMS International head Robert Louis-Dreyfus	It rebuffed an offer by Carl Spielvogel , head of Saatchi 's Backer Spielvogel Bates unit , to lead a management buy-out of all or part of Saatchi
+7	It named a new chief executive officer , former IMS International head Robert Louis-Dreyfus	It rebuffed an offer by Carl Spielvogel , head of Saatchi 's Backer Spielvogel Bates unit , to lead a management buy-out of all or part of Saatchi
+8	But Saatchi 's troubles have only whipped up interest among outsiders interested in picking off pieces of its ad businesses	While Saatchi 's major agency networks -- Backer Spielvogel and Saatchi & Saatchi Advertising -- would be difficult for any ad firm to buy because of potential client conflicts , its smaller businesses are quite attractive
+2	Campbell-Mithun-Esty , for example , has had big problems at its New York office , but offers strong offices in other areas of the country , including Minneapolis and Chicago	That would would make it appealing to a network such as Interpublic that already has a healthy New York presence
+2	Campbell-Mithun also would be a sizable addition to an agency network	It has billings of about $ 850 million and blue-chip clients including General Mills , Jeep/Eagle and Dow Brands
+2	Rowland , meanwhile , has expanded aggressively , and now ranks as the fifth-largest U.S. public relations firm , according to O'Dwyer 's Directory of Public Relations Firms	It would be attractive to an agency such as Interpublic , one of the few big agency groups without an affiliated public relations firm of its own
+8	the company may ultimately sell some of the smaller units	he might sell `` a marginal agency or office
+8	The memo attempts to remove the tourist board as far as possible from the agency	Among other things , the memo contends that Young & Rubicam gave false assurances that the investigation would n't uncover any information that would `` embarrass the government of Jamaica or the Jamaica Tourist Board
+10	It also contends that Young & Rubicam never told the tourist board about its relationship with Ad Ventures , a Jamaican firm hired by the agency	The U.S. indictment charges Ad Ventures was a front used to funnel kickbacks to the then-minister of tourism
+1	Also participating in the finals was Los Angeles agency Hakuhodo Advertising America	American Suzuki 's previous agency , Keye/Donna/Pearlstein , did n't participate
+8	The company also reassigned several executive responsibilities	David Tagg , formerly in charge of gambling operations , was appointed chief executive for retailing and property
+7	David Tagg , formerly in charge of gambling operations , was appointed chief executive for retailing and property	Peter Cawdron , group strategy development director , and Bill Shardlow , group personnel director , will become part of the board 's management committee
+1	David Baltimore already knows what it 's like to go through life with `` Nobel laureate '' appended to one 's name	He is currently experiencing what it 's like to have the phrase , `` under investigation for scientific fraud , '' also attached to his name
+1	The Nobel committee made the first addition	John Dingell 's congressional committee created the second
+5	which touched MIT , Tufts , Duke , the National Institutes of Health and elsewhere	Rep. Dingell even managed to enlist the services of the Secret Service in his investigation of the Baltimore paper
+6	against the intimidations now common in American science	John Dingell demagogues a David Baltimore , animal-rights activists do $ 3.5 million of damage to labs at the U.Cal-Davis , Meryl Streep decries the horrors of chemistry on talk shows , Jeremy Rifkin files lawsuits in federal court to thwart biotech experiments , and Dutch-elm-disease researcher Gary Strobel 's own colleagues at Montana State denounce him for `` violating '' EPA rules
+8	Mr.Dingell , by the way , has decreed another NIH investigation of the Baltimore paper , adding to several previous investigations	Something other than what most scientists would recognize as the truth is being sought here
+6	Fortunately , there are signs that increasing numbers of scientists understand the necessity of speaking out	David Hubel , a Nobel laureate at Harvard , has taken the lead in defending research with animals , as has Dr. Michael DeBakey
+7	David Hubel , a Nobel laureate at Harvard , has taken the lead in defending research with animals , as has Dr. Michael DeBakey	NASA defended itself vigorously and successfully against a Rifkin suit to block the Galileo launch
+2	Scientists need to understand that while they tend to believe their work is primarly about establishing new knowledge or doing good , today it is also about power	In a media-linked world , scientists may earn wide praise and even Nobels for their work , but they also attract the attention of people who wish to gain control over the content , funding and goals of that work
+2	but they also attract the attention of people who wish to gain control over the content , funding and goals of that work	When a David Baltimore -- or the next target -- decides it is better to stand up to these forces , his fellow scientists would do well to recognize what is fundamentally at stake , and offer their public support
+1	Wisconsin Toy has 71 retail stores , primarily in discount settings	Everything 's a Dollar operates 60 specialty-retail stores
+2	As a Channel Islander , I was amazed to see my birthplace listed as one of `` 86 countries with an income tax	Despite a history of heated local debate on the topic , my passport clearly reads `` British citizen
+2	Roland J. Hawkins , chairman of Jet Vacations Inc. , was elected to the board of this cruise line	The board expands to seven members
+6	that will impose significant costs on the American economy in the form of burdensome regulation and higher liabilities	Federal child care ( quack ) .The Clean Air bill ( quack ) .The disabled-workers bill ( quack , quack )
+7	Federal child care ( quack	The Clean Air bill ( quack
+7	Federal child care ( quack ) .The Clean Air bill ( quack )	The disabled-workers bill ( quack , quack
+8	The Bush White House is breeding non-duck ducks the same way the Nixon White House did	It hops on an issue that is unopposable -- cleaner air , better treatment of the disabled , better child care.It comes up with a toned-down version of a Democratic proposal.The bill gets signed into law and then the administration watches helplessly , wondering where all the `` unexpected '' costs came from
+9	It hops on an issue that is unopposable -- cleaner air , better treatment of the disabled , better child care	It comes up with a toned-down version of a Democratic proposal
+9	It comes up with a toned-down version of a Democratic proposal	The bill gets signed into law
+8	but now may end up signing the awful bureaucratic creature hatched on Capitol Hill	It would create 38,000 local day-care commissions , answerable to the Department of Health and Human Services
+8	It would create 38,000 local day-care commissions , answerable to the Department of Health and Human Services	They 'd determine where parents could store their kids during the day , and they 'd regulate the storage facilities
+2	The initial costs are said to be in the $ 2 billion a year range , but that 's only the beginning	New entitlements tend to grow , creating a rationale for new taxes
+2	So instead of building more efficient modern plants , utilities stick scrubbers on the old plants	The money spent on scrubbers is diverted from planned research on new , cleaner technology
+9	It is an intentionally vague document that will create a wave of litigation	Judges will write the real bill as suits roll through the courts
+2	Judges will write the real bill as suits roll through the courts	Lawyers will benefit
+1	Lawyers will benefit	Private companies , and ultimately their customers , will end up footing the huge bill
+1	By 1986 , the number of federal regulators was down to about 103,000	Then it turned up , and by one estimate the number will be up to about 109,000 regulators by next year
+9	By 1986 , the number of federal regulators was down to about 103,000	Then it turned up , and by one estimate the number will be up to about 109,000 regulators by next year
+4	that direct taxation is n't the only way to slow down an economy	It is merely the most obvious