You cannot select more than 25 topics
Topics must start with a letter or number, can include dashes ('-') and can be up to 35 characters long.
1001 lines
214 KiB
Plaintext
1001 lines
214 KiB
Plaintext
Pierre/NNP Vinken/NNP ,/, 61/CD years/NNS old/JJ ,/, will/MD join/VB the/DT board/NN as/IN a/DT nonexecutive/JJ director/NN Nov./NNP 29/CD ./.
|
|
Mr./NNP Vinken/NNP is/VBZ chairman/NN of/IN Elsevier/NNP N.V./NNP ,/, the/DT Dutch/NNP publishing/VBG group/NN ./. Rudolph/NNP Agnew/NNP ,/, 55/CD years/NNS old/JJ and/CC former/JJ chairman/NN of/IN Consolidated/NNP Gold/NNP Fields/NNP PLC/NNP ,/, was/VBD named/VBN a/DT nonexecutive/JJ director/NN of/IN this/DT British/JJ industrial/JJ conglomerate/NN ./. A/DT form/NN of/IN asbestos/NN once/RB used/VBN to/TO make/VB Kent/NNP cigarette/NN filters/NNS has/VBZ caused/VBN a/DT high/JJ percentage/NN of/IN cancer/NN deaths/NNS among/IN a/DT group/NN of/IN workers/NNS exposed/VBN to/TO it/PRP more/RBR than/IN 30/CD years/NNS ago/IN ,/, researchers/NNS reported/VBD ./.
|
|
The/DT asbestos/NN fiber/NN ,/, crocidolite/NN ,/, is/VBZ unusually/RB resilient/JJ once/IN it/PRP enters/VBZ the/DT lungs/NNS ,/, with/IN even/RB brief/JJ exposures/NNS to/TO it/PRP causing/VBG symptoms/NNS that/WDT show/VBP up/IN decades/NNS later/JJ ,/, researchers/NNS said/VBD ./.
|
|
Lorillard/NNP Inc./NNP ,/, the/DT unit/NN of/IN New/JJ York-based/JJ Loews/NNP Corp./NNP that/WDT makes/VBZ Kent/NNP cigarettes/NNS ,/, stopped/VBD using/VBG crocidolite/NN in/IN its/PRP$ Micronite/NN cigarette/NN filters/NNS in/IN 1956/CD ./.
|
|
Although/IN preliminary/JJ findings/NNS were/VBD reported/VBN more/RBR than/IN a/DT year/NN ago/IN ,/, the/DT latest/JJS results/NNS appear/VBP in/IN today/NN 's/POS New/NNP England/NNP Journal/NNP of/IN Medicine/NNP ,/, a/DT forum/NN likely/JJ to/TO bring/VB new/JJ attention/NN to/TO the/DT problem/NN ./.
|
|
A/DT Lorillard/NNP spokewoman/NN said/VBD ,/, ``/`` This/DT is/VBZ an/DT old/JJ story/NN ./.
|
|
We/PRP 're/VBP talking/VBG about/IN years/NNS ago/IN before/IN anyone/NN heard/VBD of/IN asbestos/NN having/VBG any/DT questionable/JJ properties/NNS ./.
|
|
There/EX is/VBZ no/DT asbestos/NN in/IN our/PRP$ products/NNS now/RB ./.
|
|
''/'' Neither/DT Lorillard/NNP nor/CC the/DT researchers/NNS who/WP studied/VBD the/DT workers/NNS were/VBD aware/JJ of/IN any/DT research/NN on/IN smokers/NNS of/IN the/DT Kent/NNP cigarettes/NNS ./.
|
|
``/`` We/PRP have/VBP no/DT useful/JJ information/NN on/IN whether/IN users/NNS are/VBP at/IN risk/NN ,/, ''/'' said/VBD James/NNP A./NNP Talcott/NNP of/IN Boston/NNP 's/POS Dana-Farber/NNP Cancer/NNP Institute/NNP ./.
|
|
Dr./NNP Talcott/NNP led/VBD a/DT team/NN of/IN researchers/NNS from/IN the/DT National/NNP Cancer/NNP Institute/NNP and/CC the/DT medical/JJ schools/NNS of/IN Harvard/NNP University/NNP and/CC Boston/NNP University/NNP ./.
|
|
The/DT Lorillard/NNP spokeswoman/NN said/VBD asbestos/NN was/VBD used/VBN in/IN ``/`` very/RB modest/JJ amounts/NNS ''/'' in/IN making/VBG paper/NN for/IN the/DT filters/NNS in/IN the/DT early/JJ 1950s/CD and/CC replaced/VBN with/IN a/DT different/JJ type/NN of/IN filter/NN in/IN 1956/CD ./.
|
|
From/IN 1953/CD to/TO 1955/CD ,/, 9.8/CD billion/CD Kent/NNP cigarettes/NNS with/IN the/DT filters/NNS were/VBD sold/VBN ,/, the/DT company/NN said/VBD ./.
|
|
Among/IN 33/CD men/NNS who/WP worked/VBD closely/RB with/IN the/DT substance/NN ,/, 28/CD have/VBP died/VBN --/: more/JJ than/IN three/CD times/NNS the/DT expected/VBN number/NN ./.
|
|
Four/CD of/IN the/DT five/CD surviving/VBG workers/NNS have/VBP asbestos-related/JJ diseases/NNS ,/, including/VBG three/CD with/IN recently/RB diagnosed/VBN cancer/NN ./.
|
|
The/DT total/NN of/IN 18/CD deaths/NNS from/IN malignant/JJ mesothelioma/NN ,/, lung/NN cancer/NN and/CC asbestosis/NN was/VBD far/RB higher/JJR than/IN expected/VBN ,/, the/DT researchers/NNS said/VBD ./.
|
|
``/`` The/DT morbidity/NN rate/NN is/VBZ a/DT striking/JJ finding/NN among/IN those/DT of/IN us/PRP who/WP study/VBP asbestos-related/JJ diseases/NNS ,/, ''/'' said/VBD Dr./NNP Talcott/NNP ./.
|
|
The/DT percentage/NN of/IN lung/NN cancer/NN deaths/NNS among/IN the/DT workers/NNS at/IN the/DT West/NNP Groton/NNP ,/, Mass./NNP ,/, paper/NN factory/NN appears/VBZ to/TO be/VB the/DT highest/JJS for/IN any/DT asbestos/NN workers/NNS studied/VBN in/IN Western/JJ industrialized/VBN countries/NNS ,/, he/PRP said/VBD ./.
|
|
The/DT plant/NN ,/, which/WDT is/VBZ owned/VBN by/IN Hollingsworth/NNP &/CC Vose/NNP Co./NNP ,/, was/VBD under/IN contract/NN with/IN Lorillard/NN to/TO make/VB the/DT cigarette/NN filters/NNS ./.
|
|
The/DT finding/NN probably/RB will/MD support/VB those/DT who/WP argue/VBP that/IN the/DT U.S./NNP should/MD regulate/VB the/DT class/NN of/IN asbestos/NN including/VBG crocidolite/NN more/RBR stringently/RB than/IN the/DT common/JJ kind/NN of/IN asbestos/NN ,/, chrysotile/NN ,/, found/VBN in/IN most/JJS schools/NNS and/CC other/JJ buildings/NNS ,/, Dr./NNP Talcott/NNP said/VBD ./.
|
|
The/DT U.S./NNP is/VBZ one/CD of/IN the/DT few/JJ industrialized/VBN nations/NNS that/WDT does/VBZ n't/RB have/VB a/DT higher/JJR standard/NN of/IN regulation/NN for/IN the/DT smooth/JJ ,/, needle-like/JJ fibers/NNS such/JJ as/IN crocidolite/NN that/WDT are/VBP classified/VBN as/IN amphobiles/NNS ,/, according/VBG to/TO Brooke/NNP T./NNP Mossman/NNP ,/, a/DT professor/NN of/IN pathlogy/NN at/IN the/DT University/NNP of/IN Vermont/NNP College/NNP of/IN Medicine/NNP ./.
|
|
More/RBR common/JJ chrysotile/NN fibers/NNS are/VBP curly/JJ and/CC are/VBP more/RBR easily/RB rejected/VBN by/IN the/DT body/NN ,/, Dr./NNP Mossman/NNP explained/VBD ./.
|
|
In/IN July/NNP ,/, the/DT Environmental/NNP Protection/NNP Agency/NNP imposed/VBD a/DT gradual/JJ ban/NN on/IN virtually/RB all/DT uses/NNS of/IN asbestos/NN ./.
|
|
By/IN 1997/CD ,/, almost/RB all/DT remaining/VBG uses/NNS of/IN cancer-causing/JJ asbestos/NN will/MD be/VB outlawed/VBN ./.
|
|
About/IN 160/CD workers/NNS at/IN a/DT factory/NN that/WDT made/VBD paper/NN for/IN the/DT Kent/NNP filters/NNS were/VBD exposed/VBN to/TO asbestos/NN in/IN the/DT 1950s/CD ./.
|
|
Areas/NNS of/IN the/DT factory/NN were/VBD particularly/RB dusty/JJ where/WRB the/DT crocidolite/NN was/VBD used/VBN ./.
|
|
Workers/NNS dumped/VBD large/JJ burlap/NN sacks/NNS of/IN the/DT imported/VBN material/NN into/IN a/DT huge/JJ bin/NN ,/, poured/VBD in/IN cotton/NN and/CC acetate/NN fibers/NNS and/CC mechanically/RB mixed/VBD the/DT dry/JJ fibers/NNS in/IN a/DT process/NN used/VBN to/TO make/VB filters/NNS ./.
|
|
Workers/NNS described/VBD ``/`` clouds/NNS of/IN blue/JJ dust/NN ''/'' that/WDT hung/VBD over/IN parts/NNS of/IN the/DT factory/NN ,/, even/RB though/IN exhaust/NN fans/NNS ventilated/VBD the/DT area/NN ./.
|
|
``/`` There/EX 's/VBZ no/DT question/NN that/IN some/DT of/IN those/DT workers/NNS and/CC managers/NNS contracted/VBD asbestos-related/JJ diseases/NNS ,/, ''/'' said/VBD Darrell/NNP Phillips/NNP ,/, vice/NN president/NN of/IN human/JJ resources/NNS for/IN Hollingsworth/NNP &/CC Vose/NNP ./.
|
|
``/`` But/CC you/PRP have/VBP to/TO recognize/VB that/IN these/DT events/NNS took/VBD place/NN 35/CD years/NNS ago/IN ./.
|
|
It/PRP has/VBZ no/DT bearing/NN on/IN our/PRP$ work/NN force/NN today/NN ./.
|
|
''/'' Yields/NNS on/IN money-market/JJ mutual/JJ funds/NNS continued/VBD to/TO slide/VB ,/, amid/IN signs/NNS that/IN portfolio/NN managers/NNS expect/VBP further/JJ declines/NNS in/IN interest/NN rates/NNS ./.
|
|
The/DT average/JJ seven-day/JJ compound/NN yield/NN of/IN the/DT 400/CD taxable/JJ funds/NNS tracked/VBN by/IN IBC/NNP 's/POS Money/NNP Fund/NNP Report/NNP eased/VBD a/DT fraction/NN of/IN a/DT percentage/NN point/NN to/TO 8.45/CD %/NN from/IN 8.47/CD %/NN for/IN the/DT week/NN ended/VBD Tuesday/NNP ./.
|
|
Compound/NN yields/NNS assume/VBP reinvestment/NN of/IN dividends/NNS and/CC that/IN the/DT current/JJ yield/NN continues/VBZ for/IN a/DT year/NN ./.
|
|
Average/JJ maturity/NN of/IN the/DT funds/NNS '/POS investments/NNS lengthened/VBD by/IN a/DT day/NN to/TO 41/CD days/NNS ,/, the/DT longest/JJS since/IN early/JJ August/NNP ,/, according/VBG to/TO Donoghue/NNP 's/POS ./.
|
|
Longer/JJR maturities/NNS are/VBP thought/VBN to/TO indicate/VB declining/VBG interest/NN rates/NNS because/IN they/PRP permit/VBP portfolio/NN managers/NNS to/TO retain/VB relatively/RB higher/JJR rates/NNS for/IN a/DT longer/JJR period/NN ./.
|
|
Shorter/JJR maturities/NNS are/VBP considered/VBN a/DT sign/NN of/IN rising/VBG rates/NNS because/IN portfolio/NN managers/NNS can/MD capture/VB higher/JJR rates/NNS sooner/RB ./.
|
|
The/DT average/JJ maturity/NN for/IN funds/NNS open/JJ only/RB to/TO institutions/NNS ,/, considered/VBN by/IN some/DT to/TO be/VB a/DT stronger/JJR indicator/NN because/IN those/DT managers/NNS watch/VBP the/DT market/NN closely/RB ,/, reached/VBD a/DT high/JJ point/NN for/IN the/DT year/NN --/: 33/CD days/NNS ./.
|
|
Nevertheless/RB ,/, said/VBD Brenda/NNP Malizia/NNP Negus/NNP ,/, editor/NN of/IN Money/NNP Fund/NNP Report/NNP ,/, yields/NNS ``/`` may/MD blip/VB up/RP again/RB before/IN they/PRP blip/VBP down/RP ''/'' because/IN of/IN recent/JJ rises/NNS in/IN short-term/JJ interest/NN rates/NNS ./.
|
|
The/DT yield/NN on/IN six-month/JJ Treasury/NNP bills/NNS sold/VBN at/IN Monday/NNP 's/POS auction/NN ,/, for/IN example/NN ,/, rose/VBD to/TO 8.04/CD %/NN from/IN 7.90/CD %/NN ./.
|
|
Despite/IN recent/JJ declines/NNS in/IN yields/NNS ,/, investors/NNS continue/VBP to/TO pour/VB cash/NN into/IN money/NN funds/NNS ./.
|
|
Assets/NNS of/IN the/DT 400/CD taxable/JJ funds/NNS grew/VBD by/IN $/$ 1.5/CD billion/CD during/IN the/DT latest/JJS week/NN ,/, to/TO $/$ 352.7/CD billion/CD ./.
|
|
Typically/RB ,/, money-fund/NN yields/NNS beat/VBP comparable/JJ short-term/JJ investments/NNS because/IN portfolio/NN managers/NNS can/MD vary/VB maturities/NNS and/CC go/VB after/IN the/DT highest/JJS rates/NNS ./.
|
|
The/DT top/JJ money/NN funds/NNS are/VBP currently/RB yielding/VBG well/RB over/IN 9/CD %/NN ./.
|
|
Dreyfus/NNP World-Wide/NNP Dollar/NNP ,/, the/DT top-yielding/JJ fund/NN ,/, had/VBD a/DT seven-day/JJ compound/NN yield/NN of/IN 9.37/CD %/NN during/IN the/DT latest/JJS week/NN ,/, down/RB from/IN 9.45/CD %/NN a/DT week/NN earlier/JJR ./.
|
|
It/PRP invests/VBZ heavily/RB in/IN dollar-denominated/JJ securities/NNS overseas/RB and/CC is/VBZ currently/RB waiving/VBG management/NN fees/NNS ,/, which/WDT boosts/VBZ its/PRP$ yield/NN ./.
|
|
The/DT average/JJ seven-day/JJ simple/JJ yield/NN of/IN the/DT 400/CD funds/NNS was/VBD 8.12/CD %/NN ,/, down/RB from/IN 8.14/CD %/NN ./.
|
|
The/DT 30-day/JJ simple/JJ yield/NN fell/VBD to/TO an/DT average/JJ 8.19/CD %/NN from/IN 8.22/CD %/NN ;/: the/DT 30-day/JJ compound/NN yield/NN slid/VBD to/TO an/DT average/JJ 8.53/CD %/NN from/IN 8.56/CD %/NN ./. J.P./NNP Bolduc/NNP ,/, vice/NN chairman/NN of/IN W.R./NNP Grace/NNP &/CC Co./NNP ,/, which/WDT holds/VBZ a/DT 83.4/CD %/NN interest/NN in/IN this/DT energy-services/JJ company/NN ,/, was/VBD elected/VBN a/DT director/NN ./.
|
|
He/PRP succeeds/VBZ Terrence/NNP D./NNP Daniels/NNP ,/, formerly/RB a/DT W.R./NNP Grace/NNP vice/NN chairman/NN ,/, who/WP resigned/VBD ./.
|
|
W.R./NNP Grace/NNP holds/VBZ three/CD of/IN Grace/NNP Energy/NNP 's/POS seven/CD board/NN seats/NNS ./. Pacific/NNP First/NNP Financial/NNP Corp./NNP said/VBD shareholders/NNS approved/VBD its/PRP$ acquisition/NN by/IN Royal/NNP Trustco/NNP Ltd./NNP of/IN Toronto/NNP for/IN $/$ 27/CD a/DT share/NN ,/, or/CC $/$ 212/CD million/CD ./.
|
|
The/DT thrift/NN holding/VBG company/NN said/VBD it/PRP expects/VBZ to/TO obtain/VB regulatory/JJ approval/NN and/CC complete/VB the/DT transaction/NN by/IN year-end/NN ./. McDermott/NNP International/NNP Inc./NNP said/VBD its/PRP$ Babcock/NNP &/CC Wilcox/NNP unit/NN completed/VBD the/DT sale/NN of/IN its/PRP$ Bailey/NNP Controls/NNP Operations/NNP to/TO Finmeccanica/NNP S.p/NNP ./.
|
|
A./NNP for/IN $/$ 295/CD million/CD ./.
|
|
Finmeccanica/NNP is/VBZ an/DT Italian/JJ state-owned/JJ holding/VBG company/NN with/IN interests/NNS in/IN the/DT mechanical/JJ engineering/NN industry/NN ./.
|
|
Bailey/NNP Controls/NNP ,/, based/VBN in/IN Wickliffe/NNP ,/, Ohio/NNP ,/, makes/VBZ computerized/JJ industrial/JJ controls/NNS systems/NNS ./.
|
|
It/PRP employs/VBZ 2,700/CD people/NNS and/CC has/VBZ annual/JJ revenue/NN of/IN about/IN $/$ 370/CD million/CD ./. The/DT federal/JJ government/NN suspended/VBD sales/NNS of/IN U.S./NNP savings/NNS bonds/NNS because/IN Congress/NNP has/VBZ n't/RB lifted/VBN the/DT ceiling/NN on/IN government/NN debt/NN ./.
|
|
Until/IN Congress/NNP acts/VBZ ,/, the/DT government/NN has/VBZ n't/RB any/DT authority/NN to/TO issue/VB new/JJ debt/NN obligations/NNS of/IN any/DT kind/NN ,/, the/DT Treasury/NNP said/VBD ./.
|
|
The/DT government/NN 's/POS borrowing/NN authority/NN dropped/VBD at/IN midnight/NN Tuesday/NNP to/TO $/$ 2.80/CD trillion/CD from/IN $/$ 2.87/CD trillion/CD ./.
|
|
Legislation/NN to/TO lift/VB the/DT debt/NN ceiling/NN is/VBZ ensnarled/VBN in/IN the/DT fight/NN over/IN cutting/VBG capital-gains/JJ taxes/NNS ./.
|
|
The/DT House/NNP has/VBZ voted/VBN to/TO raise/VB the/DT ceiling/NN to/TO $/$ 3.1/CD trillion/CD ,/, but/CC the/DT Senate/NNP is/VBZ n't/RB expected/VBN to/TO act/VB until/IN next/JJ week/NN at/IN the/DT earliest/JJS ./.
|
|
The/DT Treasury/NNP said/VBD the/DT U.S./NNP will/MD default/VB on/IN Nov./NNP 9/CD if/IN Congress/NNP does/VBZ n't/RB act/VB by/IN then/RB ./. Clark/NNP J./NNP Vitulli/NNP was/VBD named/VBN senior/JJ vice/NN president/NN and/CC general/JJ manager/NN of/IN this/DT U.S./NNP sales/NNS and/CC marketing/NN arm/NN of/IN Japanese/JJ auto/NN maker/NN Mazda/NNP Motor/NNP Corp/NNP ./.
|
|
In/IN the/DT new/JJ position/NN he/PRP will/MD oversee/VB Mazda/NNP 's/POS U.S./NNP sales/NNS ,/, service/NN ,/, parts/NNS and/CC marketing/NN operations/NNS ./.
|
|
Previously/RB ,/, Mr./NNP Vitulli/NNP ,/, 43/CD years/NNS old/JJ ,/, was/VBD general/JJ marketing/NN manager/NN of/IN Chrysler/NNP Corp./NNP 's/POS Chrysler/NNP division/NN ./.
|
|
He/PRP had/VBD been/VBN a/DT sales/NNS and/CC marketing/NN executive/NN with/IN Chrysler/NNP for/IN 20/CD years/NNS ./. When/WRB it/PRP 's/VBZ time/NN for/IN their/PRP$ biannual/JJ powwow/NN ,/, the/DT nation/NN 's/POS manufacturing/VBG titans/NNS typically/RB jet/VBP off/RP to/TO the/DT sunny/JJ confines/NNS of/IN resort/NN towns/NNS like/IN Boca/NNP Raton/NNP and/CC Hot/NNP Springs/NNP ./.
|
|
Not/RB this/DT year/NN ./.
|
|
The/DT National/NNP Association/NNP of/IN Manufacturers/NNP settled/VBD on/IN the/DT Hoosier/NNP capital/NN of/IN Indianapolis/NNP for/IN its/PRP$ fall/NN board/NN meeting/NN ./.
|
|
And/CC the/DT city/NN decided/VBD to/TO treat/VB its/PRP$ guests/NNS more/JJR like/IN royalty/NN or/CC rock/NN stars/NNS than/IN factory/NN owners/NNS ./.
|
|
The/DT idea/NN ,/, of/IN course/NN :/: to/TO prove/VB to/TO 125/CD corporate/JJ decision/NN makers/NNS that/IN the/DT buckle/NN on/IN the/DT Rust/NNP Belt/NNP is/VBZ n't/RB so/RB rusty/JJ after/IN all/DT ,/, that/IN it/PRP 's/VBZ a/DT good/JJ place/NN for/IN a/DT company/NN to/TO expand/VB ./.
|
|
On/IN the/DT receiving/VBG end/NN of/IN the/DT message/NN were/VBD officials/NNS from/IN giants/NNS like/IN Du/NNP Pont/NNP and/CC Maytag/NNP ,/, along/IN with/IN lesser/JJR knowns/NNS like/IN Trojan/NNP Steel/NNP and/CC the/DT Valley/NNP Queen/NNP Cheese/NNP Factory/NNP ./.
|
|
For/IN starters/NNS ,/, the/DT executives/NNS joined/VBD Mayor/NNP William/NNP H./NNP Hudnut/NNP III/NNP for/IN an/DT evening/NN of/IN the/DT Indianapolis/NNP Symphony/NNP Orchestra/NNP and/CC a/DT guest/NN pianist-comedian/NN Victor/NNP Borge/NNP ./.
|
|
Champagne/NN and/CC dessert/NN followed/VBD ./.
|
|
The/DT next/JJ morning/NN ,/, with/IN a/DT police/NN escort/NN ,/, busloads/NNS of/IN executives/NNS and/CC their/PRP$ wives/NNS raced/VBD to/TO the/DT Indianapolis/NNP Motor/NNP Speedway/NNP ,/, unimpeded/JJ by/IN traffic/NN or/CC red/JJ lights/NNS ./.
|
|
The/DT governor/NN could/MD n't/RB make/VB it/PRP ,/, so/IN the/DT lieutenant/NN governor/NN welcomed/VBD the/DT special/JJ guests/NNS ./.
|
|
A/DT buffet/NN breakfast/NN was/VBD held/VBN in/IN the/DT museum/NN ,/, where/WRB food/NN and/CC drinks/NNS are/VBP banned/VBN to/TO everyday/JJ visitors/NNS ./.
|
|
Then/RB ,/, in/IN the/DT guests/NNS '/POS honor/NN ,/, the/DT speedway/NN hauled/VBD out/IN four/CD drivers/NNS ,/, crews/NNS and/CC even/RB the/DT official/JJ Indianapolis/NNP 500/CD announcer/NN for/IN a/DT 10-lap/JJ exhibition/NN race/NN ./.
|
|
After/IN the/DT race/NN ,/, Fortune/NNP 500/CD executives/NNS drooled/VBD like/IN schoolboys/NNS over/IN the/DT cars/NNS and/CC drivers/NNS ./.
|
|
No/DT dummies/NNS ,/, the/DT drivers/NNS pointed/VBD out/IN they/PRP still/RB had/VBD space/NN on/IN their/PRP$ machines/NNS for/IN another/DT sponsor/NN 's/POS name/NN or/CC two/CD ./.
|
|
Back/RB downtown/NN ,/, the/DT execs/NNS squeezed/VBD in/IN a/DT few/JJ meetings/NNS at/IN the/DT hotel/NN before/IN boarding/VBG the/DT buses/NNS again/RB ./.
|
|
This/DT time/NN ,/, it/PRP was/VBD for/IN dinner/NN and/CC dancing/NN --/: a/DT block/NN away/RB ./.
|
|
Under/IN the/DT stars/NNS and/CC moons/NNS of/IN the/DT renovated/VBN Indiana/NNP Roof/NNP ballroom/NN ,/, nine/CD of/IN the/DT hottest/JJS chefs/NNS in/IN town/NN fed/VBD them/PRP Indiana/NNP duckling/NN mousseline/NN ,/, lobster/NN consomme/NN ,/, veal/NN mignon/NN and/CC chocolate/JJ terrine/NN with/IN a/DT raspberry/NN sauce/NN ./.
|
|
Knowing/VBG a/DT tasty/JJ --/: and/CC free/JJ --/: meal/NN when/WRB they/PRP eat/VBP one/CD ,/, the/DT executives/NNS gave/VBD the/DT chefs/NNS a/DT standing/JJ ovation/NN ./.
|
|
More/JJR than/IN a/DT few/JJ CEOs/NNS say/VBP the/DT red-carpet/JJ treatment/NN tempts/VBZ them/PRP to/TO return/VB to/TO a/DT heartland/NN city/NN for/IN future/JJ meetings/NNS ./.
|
|
But/CC for/IN now/RB ,/, they/PRP 're/VBP looking/VBG forward/RB to/TO their/PRP$ winter/NN meeting/NN --/: Boca/NNP in/IN February/NNP ./. South/NNP Korea/NNP registered/VBD a/DT trade/NN deficit/NN of/IN $/$ 101/CD million/CD in/IN October/NNP ,/, reflecting/VBG the/DT country/NN 's/POS economic/JJ sluggishness/NN ,/, according/VBG to/TO government/NN figures/NNS released/VBD Wednesday/NNP ./.
|
|
Preliminary/JJ tallies/NNS by/IN the/DT Trade/NNP and/CC Industry/NNP Ministry/NNP showed/VBD another/DT trade/NN deficit/NN in/IN October/NNP ,/, the/DT fifth/JJ monthly/JJ setback/NN this/DT year/NN ,/, casting/VBG a/DT cloud/NN on/IN South/NNP Korea/NNP 's/POS export-oriented/JJ economy/NN ./.
|
|
Exports/NNS in/IN October/NNP stood/VBD at/IN $/$ 5.29/CD billion/CD ,/, a/DT mere/JJ 0.7/CD %/NN increase/NN from/IN a/DT year/NN earlier/JJR ,/, while/IN imports/NNS increased/VBD sharply/RB to/TO $/$ 5.39/CD billion/CD ,/, up/RB 20/CD %/NN from/IN last/JJ October/NNP ./.
|
|
South/NNP Korea/NNP 's/POS economic/JJ boom/NN ,/, which/WDT began/VBD in/IN 1986/CD ,/, stopped/VBD this/DT year/NN because/IN of/IN prolonged/VBN labor/NN disputes/NNS ,/, trade/NN conflicts/NNS and/CC sluggish/JJ exports/NNS ./.
|
|
Government/NN officials/NNS said/VBD exports/NNS at/IN the/DT end/NN of/IN the/DT year/NN would/MD remain/VB under/IN a/DT government/NN target/NN of/IN $/$ 68/CD billion/CD ./.
|
|
Despite/IN the/DT gloomy/JJ forecast/NN ,/, South/NNP Korea/NNP has/VBZ recorded/VBN a/DT trade/NN surplus/NN of/IN $/$ 71/CD million/CD so/IN far/IN this/DT year/NN ./.
|
|
From/IN January/NNP to/TO October/NNP ,/, the/DT nation/NN 's/POS accumulated/VBN exports/NNS increased/VBD 4/CD %/NN from/IN the/DT same/JJ period/NN last/JJ year/NN to/TO $/$ 50.45/CD billion/CD ./.
|
|
Imports/NNS were/VBD at/IN $/$ 50.38/CD billion/CD ,/, up/RB 19/CD %/NN ./. Newsweek/NNP ,/, trying/VBG to/TO keep/VB pace/NN with/IN rival/JJ Time/NNP magazine/NN ,/, announced/VBD new/JJ advertising/NN rates/NNS for/IN 1990/CD and/CC said/VBD it/PRP will/MD introduce/VB a/DT new/JJ incentive/NN plan/NN for/IN advertisers/NNS ./.
|
|
The/DT new/JJ ad/NN plan/NN from/IN Newsweek/NNP ,/, a/DT unit/NN of/IN the/DT Washington/NNP Post/NNP Co./NNP ,/, is/VBZ the/DT second/JJ incentive/NN plan/NN the/DT magazine/NN has/VBZ offered/VBN advertisers/NNS in/IN three/CD years/NNS ./.
|
|
Plans/NNS that/WDT give/VBP advertisers/NNS discounts/NNS for/IN maintaining/VBG or/CC increasing/VBG ad/NN spending/NN have/VBP become/VBN permanent/JJ fixtures/NNS at/IN the/DT news/NN weeklies/NNS and/CC underscore/VBP the/DT fierce/JJ competition/NN between/IN Newsweek/NNP ,/, Time/NNP Warner/NNP Inc./NNP 's/POS Time/NNP magazine/NN ,/, and/CC Mortimer/NNP B./NNP Zuckerman/NNP 's/POS U.S./NNP News/NNP &/CC World/NNP Report/NNP ./.
|
|
Alan/NNP Spoon/NNP ,/, recently/RB named/VBN Newsweek/NNP president/NN ,/, said/VBD Newsweek/NNP 's/POS ad/NN rates/NNS would/MD increase/VB 5/CD %/NN in/IN January/NNP ./.
|
|
A/DT full/JJ ,/, four-color/JJ page/NN in/IN Newsweek/NNP will/MD cost/VB $/$ 100,980/CD ./.
|
|
In/IN mid-October/NNP ,/, Time/NNP magazine/NN lowered/VBD its/PRP$ guaranteed/VBN circulation/NN rate/NN base/NN for/IN 1990/CD while/IN not/RB increasing/VBG ad/NN page/NN rates/NNS ;/: with/IN a/DT lower/JJR circulation/NN base/NN ,/, Time/NNP 's/POS ad/NN rate/NN will/MD be/VB effectively/RB 7.5/CD %/NN higher/JJR per/IN subscriber/NN ;/: a/DT full/JJ page/NN in/IN Time/NNP costs/VBZ about/IN $/$ 120,000/CD ./.
|
|
U.S./NNP News/NNP has/VBZ yet/RB to/TO announce/VB its/PRP$ 1990/CD ad/NN rates/NNS ./.
|
|
Newsweek/NNP said/VBD it/PRP will/MD introduce/VB the/DT Circulation/NNP Credit/NNP Plan/NNP ,/, which/WDT awards/VBZ space/NN credits/NNS to/TO advertisers/NNS on/IN ``/`` renewal/NN advertising/NN ./.
|
|
''/'' The/DT magazine/NN will/MD reward/VB with/IN ``/`` page/NN bonuses/NNS ''/'' advertisers/NNS who/WP in/IN 1990/CD meet/VBP or/CC exceed/VBP their/PRP$ 1989/CD spending/NN ,/, as/RB long/RB as/IN they/PRP spent/VBD $/$ 325,000/CD in/IN 1989/CD and/CC $/$ 340,000/CD in/IN 1990/CD ./.
|
|
Mr./NNP Spoon/NNP said/VBD the/DT plan/NN is/VBZ not/RB an/DT attempt/NN to/TO shore/VB up/IN a/DT decline/NN in/IN ad/NN pages/NNS in/IN the/DT first/JJ nine/CD months/NNS of/IN 1989/CD ;/: Newsweek/NNP 's/POS ad/NN pages/NNS totaled/VBD 1,620/CD ,/, a/DT drop/NN of/IN 3.2/CD %/NN from/IN last/JJ year/NN ,/, according/VBG to/TO Publishers/NNP Information/NNP Bureau/NNP ./.
|
|
``/`` What/WP matters/VBZ is/VBZ what/WP advertisers/NNS are/VBP paying/VBG per/IN page/NN ,/, and/CC in/IN that/DT department/NN we/PRP are/VBP doing/VBG fine/RB this/DT fall/NN ,/, ''/'' said/VBD Mr./NNP Spoon/NNP ./.
|
|
Both/DT Newsweek/NNP and/CC U.S./NNP News/NNP have/VBP been/VBN gaining/VBG circulation/NN in/IN recent/JJ years/NNS without/IN heavy/JJ use/NN of/IN electronic/JJ giveaways/NNS to/TO subscribers/NNS ,/, such/JJ as/IN telephones/NNS or/CC watches/NNS ./.
|
|
However/RB ,/, none/NN of/IN the/DT big/JJ three/CD weeklies/NNS recorded/VBD circulation/NN gains/NNS recently/RB ./.
|
|
According/VBG to/TO Audit/NNP Bureau/NNP of/IN Circulations/NNP ,/, Time/NNP ,/, the/DT largest/JJS newsweekly/RB ,/, had/VBD average/JJ circulation/NN of/IN 4,393,237/CD ,/, a/DT decrease/NN of/IN 7.3/CD %/NN ./.
|
|
Newsweek/NNP 's/POS circulation/NN for/IN the/DT first/JJ six/CD months/NNS of/IN 1989/CD was/VBD 3,288,453/CD ,/, flat/JJ from/IN the/DT same/JJ period/NN last/JJ year/NN ./.
|
|
U.S./NNP News/NNP '/POS circulation/NN in/IN the/DT same/JJ time/NN was/VBD 2,303,328/CD ,/, down/RB 2.6/CD %/NN ./. New/NNP England/NNP Electric/NNP System/NNP bowed/VBD out/IN of/IN the/DT bidding/NN for/IN Public/NNP Service/NNP Co./NNP of/IN New/NNP Hampshire/NNP ,/, saying/VBG that/IN the/DT risks/NNS were/VBD too/RB high/JJ and/CC the/DT potential/JJ payoff/NN too/RB far/RB in/IN the/DT future/NN to/TO justify/VB a/DT higher/JJR offer/NN ./.
|
|
The/DT move/NN leaves/VBZ United/NNP Illuminating/NNP Co./NNP and/CC Northeast/NNP Utilities/NNP as/IN the/DT remaining/VBG outside/JJ bidders/NNS for/IN PS/NNP of/IN New/NNP Hampshire/NNP ,/, which/WDT also/RB has/VBZ proposed/VBN an/DT internal/JJ reorganization/NN plan/NN in/IN Chapter/NN 11/CD bankruptcy/NN proceedings/NNS under/IN which/WDT it/PRP would/MD remain/VB an/DT independent/JJ company/NN ./.
|
|
New/NNP England/NNP Electric/NNP ,/, based/VBN in/IN Westborough/NNP ,/, Mass./NNP ,/, had/VBD offered/VBN $/$ 2/CD billion/CD to/TO acquire/VB PS/NNP of/IN New/NNP Hampshire/NNP ,/, well/RB below/IN the/DT $/$ 2.29/CD billion/CD value/NN United/NNP Illuminating/NNP places/NNS on/IN its/PRP$ bid/NN and/CC the/DT $/$ 2.25/CD billion/CD Northeast/NNP says/VBZ its/PRP$ bid/NN is/VBZ worth/IN ./.
|
|
United/NNP Illuminating/NNP is/VBZ based/VBN in/IN New/NNP Haven/NNP ,/, Conn./NNP ,/, and/CC Northeast/NNP is/VBZ based/VBN in/IN Hartford/NNP ,/, Conn/NNP ./.
|
|
PS/NNP of/IN New/NNP Hampshire/NNP ,/, Manchester/NNP ,/, N.H./NNP ,/, values/VBZ its/PRP$ internal/JJ reorganization/NN plan/NN at/IN about/IN $/$ 2.2/CD billion/CD ./.
|
|
John/NNP Rowe/NNP ,/, president/NN and/CC chief/JJ executive/JJ officer/NN of/IN New/NNP England/NNP Electric/NNP ,/, said/VBD the/DT company/NN 's/POS return/NN on/IN equity/NN could/MD suffer/VB if/IN it/PRP made/VBD a/DT higher/JJR bid/NN and/CC its/PRP$ forecasts/NNS related/VBN to/TO PS/NNP of/IN New/NNP Hampshire/NNP --/: such/JJ as/IN growth/NN in/IN electricity/NN demand/NN and/CC improved/VBN operating/NN efficiencies/NNS --/: did/VBD n't/RB come/VB true/JJ ./.
|
|
``/`` When/WRB we/PRP evaluated/VBD raising/VBG our/PRP$ bid/NN ,/, the/DT risks/NNS seemed/VBD substantial/JJ and/CC persistent/JJ over/IN the/DT next/JJ five/CD years/NNS ,/, and/CC the/DT rewards/NNS seemed/VBD a/DT long/JJ way/NN out/IN ./.
|
|
That/WDT got/VBD hard/RB to/TO take/VB ,/, ''/'' he/PRP added/VBD ./.
|
|
Mr./NNP Rowe/NNP also/RB noted/VBD that/IN political/JJ concerns/NNS also/RB worried/VBN New/NNP England/NNP Electric/NNP ./.
|
|
No/DT matter/NN who/WP owns/VBZ PS/NNP of/IN New/NNP Hampshire/NNP ,/, after/IN it/PRP emerges/VBZ from/IN bankruptcy/NN proceedings/NNS its/PRP$ rates/NNS will/MD be/VB among/IN the/DT highest/JJS in/IN the/DT nation/NN ,/, he/PRP said/VBD ./.
|
|
``/`` That/DT attracts/VBZ attention/NN .../: it/PRP was/VBD just/RB another/DT one/CD of/IN the/DT risk/NN factors/NNS ''/'' that/WDT led/VBD to/TO the/DT company/NN 's/POS decision/NN to/TO withdraw/VB from/IN the/DT bidding/NN ,/, he/PRP added/VBD ./.
|
|
Wilbur/NNP Ross/NNP Jr./NNP of/IN Rothschild/NNP Inc./NNP ,/, the/DT financial/JJ adviser/NN to/TO the/DT troubled/JJ company/NN 's/POS equity/NN holders/NNS ,/, said/VBD the/DT withdrawal/NN of/IN New/NNP England/NNP Electric/NNP might/MD speed/VB up/IN the/DT reorganization/NN process/NN ./.
|
|
The/DT fact/NN that/IN New/NNP England/NNP proposed/VBD lower/JJR rate/NN increases/NNS --/: 4.8/CD %/NN over/IN seven/CD years/NNS against/IN around/IN 5.5/CD %/NN boosts/NNS proposed/VBN by/IN the/DT other/JJ two/CD outside/JJ bidders/NNS --/: complicated/IN negotiations/NNS with/IN state/NN officials/NNS ,/, Mr./NNP Ross/NNP asserted/VBD ./.
|
|
``/`` Now/RB the/DT field/NN is/VBZ less/RBR cluttered/VBN ,/, ''/'' he/PRP added/VBD ./.
|
|
Separately/RB ,/, the/DT Federal/NNP Energy/NNP Regulatory/NNP Commission/NNP turned/VBD down/IN for/IN now/RB a/DT request/NN by/IN Northeast/NNP seeking/VBG approval/NN of/IN its/PRP$ possible/JJ purchase/NN of/IN PS/NNP of/IN New/NNP Hampshire/NNP ./.
|
|
Northeast/NNP said/VBD it/PRP would/MD refile/VB its/PRP$ request/NN and/CC still/RB hopes/VBZ for/IN an/DT expedited/VBN review/NN by/IN the/DT FERC/NNP so/IN that/IN it/PRP could/MD complete/VB the/DT purchase/NN by/IN next/JJ summer/NN if/IN its/PRP$ bid/NN is/VBZ the/DT one/NN approved/VBD by/IN the/DT bankruptcy/NN court/NN ./.
|
|
PS/NNP of/IN New/NNP Hampshire/NNP shares/NNS closed/VBD yesterday/NN at/IN $/$ 3.75/CD ,/, off/IN 25/CD cents/NNS ,/, in/IN New/NNP York/NNP Stock/NNP Exchange/NNP composite/JJ trading/NN ./. Norman/NNP Ricken/NNP ,/, 52/CD years/NNS old/JJ and/CC former/JJ president/NN and/CC chief/NN operating/VBG officer/NN of/IN Toys/NNPS ``/`` R/NNP ''/'' Us/NNP Inc./NNP ,/, and/CC Frederick/NNP Deane/NNP Jr./NNP ,/, 63/CD ,/, chairman/NN of/IN Signet/NNP Banking/NNP Corp./NNP ,/, were/VBD elected/VBN directors/NNS of/IN this/DT consumer/NN electronics/NNS and/CC appliances/NNS retailing/NN chain/NN ./.
|
|
They/PRP succeed/VBP Daniel/NNP M./NNP Rexinger/NNP ,/, retired/VBN Circuit/NNP City/NNP executive/JJ vice/NN president/NN ,/, and/CC Robert/NNP R./NNP Glauber/NNP ,/, U.S./NNP Treasury/NNP undersecretary/NN ,/, on/IN the/DT 12-member/JJ board/NN ./. Commonwealth/NNP Edison/NNP Co./NNP was/VBD ordered/VBN to/TO refund/VB about/IN $/$ 250/CD million/CD to/TO its/PRP$ current/JJ and/CC former/JJ ratepayers/NNS for/IN illegal/JJ rates/NNS collected/VBN for/IN cost/NN overruns/NNS on/IN a/DT nuclear/JJ power/NN plant/NN ./.
|
|
The/DT refund/NN was/VBD about/IN $/$ 55/CD million/CD more/JJR than/IN previously/RB ordered/VBN by/IN the/DT Illinois/NNP Commerce/NNP Commission/NNP and/CC trade/NN groups/NNS said/VBD it/PRP may/MD be/VB the/DT largest/JJS ever/RB required/VBN of/IN a/DT state/NN or/CC local/JJ utility/NN ./.
|
|
State/NN court/NN Judge/NNP Richard/NNP Curry/NNP ordered/VBD Edison/NNP to/TO make/VB average/JJ refunds/NNS of/IN about/IN $/$ 45/CD to/TO $/$ 50/CD each/DT to/TO Edison/NNP customers/NNS who/WP have/VBP received/VBN electric/JJ service/NN since/IN April/NNP 1986/CD ,/, including/VBG about/IN two/CD million/CD customers/NNS who/WP have/VBP moved/VBN during/IN that/DT period/NN ./.
|
|
Judge/NNP Curry/NNP ordered/VBD the/DT refunds/NNS to/TO begin/VB Feb./NNP 1/CD and/CC said/VBD that/IN he/PRP would/MD n't/RB entertain/VB any/DT appeals/NNS or/CC other/JJ attempts/NNS to/TO block/VB his/PRP$ order/NN by/IN Commonwealth/NNP Edison/NNP ./.
|
|
``/`` The/DT refund/NN pool/NN .../: may/MD not/RB be/VB held/VBN hostage/NN through/IN another/DT round/NN of/IN appeals/NNS ,/, ''/'' Judge/NNP Curry/NNP said/VBD ./.
|
|
Commonwealth/NNP Edison/NNP said/VBD it/PRP is/VBZ already/RB appealing/VBG the/DT underlying/VBG commission/NN order/NN and/CC is/VBZ considering/VBG appealing/VBG Judge/NNP Curry/NNP 's/POS order/NN ./.
|
|
The/DT exact/JJ amount/NN of/IN the/DT refund/NN will/MD be/VB determined/VBN next/JJ year/NN based/VBN on/IN actual/JJ collections/NNS made/VBN until/IN Dec./NNP 31/CD of/IN this/DT year/NN ./.
|
|
Commonwealth/NNP Edison/NNP said/VBD the/DT ruling/NN could/MD force/VB it/PRP to/TO slash/VB its/PRP$ 1989/CD earnings/NNS by/IN $/$ 1.55/CD a/DT share/NN ./.
|
|
For/IN 1988/CD ,/, Commonwealth/NNP Edison/NNP reported/VBD earnings/NNS of/IN $/$ 737.5/CD million/CD ,/, or/CC $/$ 3.01/CD a/DT share/NN ./.
|
|
A/DT Commonwealth/NNP Edison/NNP spokesman/NN said/VBD that/IN tracking/VBG down/RP the/DT two/CD million/CD customers/NNS whose/WP$ addresses/NNS have/VBP changed/VBN during/IN the/DT past/JJ 3/CD 1&slash;2/CD years/NNS would/MD be/VB ``/`` an/DT administrative/JJ nightmare/NN ./.
|
|
''/'' In/IN New/NNP York/NNP Stock/NNP Exchange/NNP composite/JJ trading/NN yesterday/NN ,/, Commonwealth/NNP Edison/NNP closed/VBD at/IN $/$ 38.375/CD ,/, down/RB 12.5/CD cents/NNS ./.
|
|
The/DT $/$ 2.5/CD billion/CD Byron/NNP 1/CD plant/NN near/IN Rockford/NNP ,/, Ill./NNP ,/, was/VBD completed/VBN in/IN 1985/CD ./.
|
|
In/IN a/DT disputed/VBN 1985/CD ruling/NN ,/, the/DT Commerce/NNP Commission/NNP said/VBD Commonwealth/NNP Edison/NNP could/MD raise/VB its/PRP$ electricity/NN rates/NNS by/IN $/$ 49/CD million/CD to/TO pay/VB for/IN the/DT plant/NN ./.
|
|
But/CC state/NN courts/NNS upheld/VBD a/DT challenge/NN by/IN consumer/NN groups/NNS to/TO the/DT commission/NN 's/POS rate/NN increase/NN and/CC found/VBD the/DT rates/NNS illegal/JJ ./.
|
|
The/DT Illinois/NNP Supreme/NNP Court/NNP ordered/VBD the/DT commission/NN to/TO audit/VB Commonwealth/NNP Edison/NNP 's/POS construction/NN expenses/NNS and/CC refund/VB any/DT unreasonable/JJ expenses/NNS ./.
|
|
The/DT utility/NN has/VBZ been/VBN collecting/VBG for/IN the/DT plant/NN 's/POS construction/NN cost/NN from/IN its/PRP$ 3.1/CD million/CD customers/NNS subject/JJ to/TO a/DT refund/NN since/IN 1986/CD ./.
|
|
In/IN August/NNP ,/, the/DT commission/NN ruled/VBD that/IN between/IN $/$ 190/CD million/CD and/CC $/$ 195/CD million/CD of/IN the/DT plant/NN 's/POS construction/NN cost/NN was/VBD unreasonable/JJ and/CC should/MD be/VB refunded/VBN ,/, plus/CC interest/NN ./.
|
|
In/IN his/PRP$ ruling/NN ,/, Judge/NNP Curry/NNP added/VBD an/DT additional/JJ $/$ 55/CD million/CD to/TO the/DT commission/NN 's/POS calculations/NNS ./.
|
|
Last/JJ month/NN ,/, Judge/NNP Curry/NNP set/VBD the/DT interest/NN rate/NN on/IN the/DT refund/NN at/IN 9/CD %/NN ./.
|
|
Commonwealth/NNP Edison/NNP now/RB faces/VBZ an/DT additional/JJ court-ordered/JJ refund/NN on/IN its/PRP$ summer&slash;winter/JJ rate/NN differential/JJ collections/NNS that/IN the/DT Illinois/NNP Appellate/NNP Court/NNP has/VBZ estimated/VBN at/IN $/$ 140/CD million/CD ./.
|
|
And/CC consumer/NN groups/NNS hope/VBP that/IN Judge/NNP Curry/NNP 's/POS Byron/NNP 1/CD order/NN may/MD set/VB a/DT precedent/NN for/IN a/DT second/JJ nuclear/JJ rate/NN case/NN involving/VBG Commonwealth/NNP Edison/NNP 's/POS Braidwood/NNP 2/CD plant/NN ./.
|
|
Commonwealth/NNP Edison/NNP is/VBZ seeking/VBG about/IN $/$ 245/CD million/CD in/IN rate/NN increases/NNS to/TO pay/VB for/IN Braidwood/NNP 2/CD ./.
|
|
The/DT commission/NN is/VBZ expected/VBN to/TO rule/VB on/IN the/DT Braidwood/NNP 2/CD case/NN by/IN year/NN end/NN ./.
|
|
Last/JJ year/NN Commonwealth/NNP Edison/NNP had/VBD to/TO refund/VB $/$ 72.7/CD million/CD for/IN poor/JJ performance/NN of/IN its/PRP$ LaSalle/NNP I/NNP nuclear/JJ plant/NN ./. Japan/NNP 's/POS domestic/JJ sales/NNS of/IN cars/NNS ,/, trucks/NNS and/CC buses/NNS in/IN October/NNP rose/VBD 18/CD %/NN from/IN a/DT year/NN earlier/JJR to/TO 500,004/CD units/NNS ,/, a/DT record/NN for/IN the/DT month/NN ,/, the/DT Japan/NNP Automobile/NNP Dealers/NNPS '/POS Association/NNP said/VBD ./.
|
|
The/DT strong/JJ growth/NN followed/VBD year-to-year/JJ increases/NNS of/IN 21/CD %/NN in/IN August/NNP and/CC 12/CD %/NN in/IN September/NNP ./.
|
|
The/DT monthly/JJ sales/NNS have/VBP been/VBN setting/VBG records/NNS every/DT month/NN since/IN March/NNP ./.
|
|
October/NNP sales/NNS ,/, compared/VBN with/IN the/DT previous/JJ month/NN ,/, inched/VBD down/RB 0.4/CD %/NN ./.
|
|
Sales/NNS of/IN passenger/NN cars/NNS grew/VBD 22/CD %/NN from/IN a/DT year/NN earlier/JJR to/TO 361,376/CD units/NNS ./.
|
|
Sales/NNS of/IN medium-sized/JJ cars/NNS ,/, which/WDT benefited/VBD from/IN price/NN reductions/NNS arising/VBG from/IN introduction/NN of/IN the/DT consumption/NN tax/NN ,/, more/RBR than/IN doubled/VBD to/TO 30,841/CD units/NNS from/IN 13,056/CD in/IN October/NNP 1988/CD ./. Texas/NNP Instruments/NNPS Japan/NNP Ltd./NNP ,/, a/DT unit/NN of/IN Texas/NNP Instruments/NNPS Inc./NNP ,/, said/VBD it/PRP opened/VBD a/DT plant/NN in/IN South/NNP Korea/NNP to/TO manufacture/VB control/NN devices/NNS ./.
|
|
The/DT new/JJ plant/NN ,/, located/VBN in/IN Chinchon/NNP about/IN 60/CD miles/NNS from/IN Seoul/NNP ,/, will/MD help/VB meet/VB increasing/VBG and/CC diversifying/VBG demand/NN for/IN control/NN products/NNS in/IN South/NNP Korea/NNP ,/, the/DT company/NN said/VBD ./.
|
|
The/DT plant/NN will/MD produce/VB control/NN devices/NNS used/VBN in/IN motor/NN vehicles/NNS and/CC household/NN appliances/NNS ./. The/DT survival/NN of/IN spinoff/NN Cray/NNP Computer/NNP Corp./NNP as/IN a/DT fledgling/NN in/IN the/DT supercomputer/NN business/NN appears/VBZ to/TO depend/VB heavily/RB on/IN the/DT creativity/NN --/: and/CC longevity/NN --/: of/IN its/PRP$ chairman/NN and/CC chief/NN designer/NN ,/, Seymour/NNP Cray/NNP ./.
|
|
Not/RB only/RB is/VBZ development/NN of/IN the/DT new/JJ company/NN 's/POS initial/JJ machine/NN tied/VBD directly/RB to/TO Mr./NNP Cray/NNP ,/, so/RB is/VBZ its/PRP$ balance/NN sheet/NN ./.
|
|
Documents/NNS filed/VBN with/IN the/DT Securities/NNPS and/CC Exchange/NNP Commission/NNP on/IN the/DT pending/VBG spinoff/NN disclosed/VBD that/IN Cray/NNP Research/NNP Inc./NNP will/MD withdraw/VB the/DT almost/RB $/$ 100/CD million/CD in/IN financing/NN it/PRP is/VBZ providing/VBG the/DT new/JJ firm/NN if/IN Mr./NNP Cray/NNP leaves/VBZ or/CC if/IN the/DT product-design/JJ project/NN he/PRP heads/VBZ is/VBZ scrapped/VBN ./.
|
|
The/DT documents/NNS also/RB said/VBD that/IN although/IN the/DT 64-year-old/JJ Mr./NNP Cray/NNP has/VBZ been/VBN working/VBG on/IN the/DT project/NN for/IN more/RBR than/IN six/CD years/NNS ,/, the/DT Cray-3/NNP machine/NN is/VBZ at/IN least/JJS another/DT year/NN away/RB from/IN a/DT fully/RB operational/JJ prototype/NN ./.
|
|
Moreover/JJR ,/, there/EX have/VBP been/VBN no/DT orders/NNS for/IN the/DT Cray-3/NNP so/RB far/RB ,/, though/IN the/DT company/NN says/VBZ it/PRP is/VBZ talking/VBG with/IN several/JJ prospects/NNS ./.
|
|
While/IN many/JJ of/IN the/DT risks/NNS were/VBD anticipated/VBN when/WRB Minneapolis-based/JJ Cray/NNP Research/NNP first/RB announced/VBD the/DT spinoff/NN in/IN May/NNP ,/, the/DT strings/NNS it/PRP attached/VBD to/TO the/DT financing/NN had/VBD n't/RB been/VBN made/VBN public/JJ until/IN yesterday/NN ./.
|
|
``/`` We/PRP did/VBD n't/RB have/VB much/RB of/IN a/DT choice/NN ,/, ''/'' Cray/NNP Computer/NNP 's/POS chief/NN financial/JJ officer/NN ,/, Gregory/NNP Barnum/NNP ,/, said/VBD in/IN an/DT interview/NN ./.
|
|
``/`` The/DT theory/NN is/VBZ that/IN Seymour/NNP is/VBZ the/DT chief/JJ designer/NN of/IN the/DT Cray-3/NNP ,/, and/CC without/IN him/PRP it/PRP could/MD not/RB be/VB completed/VBN ./.
|
|
Cray/NNP Research/NNP did/VBD not/RB want/VB to/TO fund/VB a/DT project/NN that/WDT did/VBD not/RB include/VB Seymour/NNP ./.
|
|
''/'' The/DT documents/NNS also/RB said/VBD that/IN Cray/NNP Computer/NNP anticipates/VBZ needing/VBG perhaps/RB another/DT $/$ 120/CD million/CD in/IN financing/NN beginning/VBG next/JJ September/NNP ./.
|
|
But/CC Mr./NNP Barnum/NNP called/VBD that/IN ``/`` a/DT worst-case/JJ ''/'' scenario/NN ./.
|
|
The/DT filing/NN on/IN the/DT details/NNS of/IN the/DT spinoff/NN caused/VBD Cray/NNP Research/NNP stock/NN to/TO jump/VB $/$ 2.875/CD yesterday/NN to/TO close/VB at/IN $/$ 38/CD in/IN New/NNP York/NNP Stock/NNP Exchange/NNP composite/JJ trading/NN ./.
|
|
Analysts/NNS noted/VBD yesterday/NN that/IN Cray/NNP Research/NNP 's/POS decision/NN to/TO link/VB its/PRP$ $/$ 98.3/CD million/CD promissory/JJ note/NN to/TO Mr./NNP Cray/NNP 's/POS presence/NN will/MD complicate/VB a/DT valuation/NN of/IN the/DT new/JJ company/NN ./.
|
|
``/`` It/PRP has/VBZ to/TO be/VB considered/VBN as/IN an/DT additional/JJ risk/NN for/IN the/DT investor/NN ,/, ''/'' said/VBD Gary/NNP P./NNP Smaby/NNP of/IN Smaby/NNP Group/NNP Inc./NNP ,/, Minneapolis/NNP ./.
|
|
``/`` Cray/NNP Computer/NNP will/MD be/VB a/DT concept/NN stock/NN ,/, ''/'' he/PRP said/VBD ./.
|
|
``/`` You/PRP either/RB believe/VBP Seymour/NNP can/MD do/VB it/PRP again/RB or/CC you/PRP do/VBP n't/RB ./.
|
|
''/'' Besides/IN the/DT designer/NN 's/POS age/NN ,/, other/JJ risk/NN factors/NNS for/IN Mr./NNP Cray/NNP 's/POS new/JJ company/NN include/VBP the/DT Cray-3/NNP 's/POS tricky/JJ ,/, unproven/JJ chip/NN technology/NN ./.
|
|
The/DT SEC/NNP documents/NNS describe/VBP those/DT chips/NNS ,/, which/WDT are/VBP made/VBN of/IN gallium/NN arsenide/NN ,/, as/IN being/VBG so/RB fragile/JJ and/CC minute/JJ they/PRP will/MD require/VB special/JJ robotic/JJ handling/NN equipment/NN ./.
|
|
In/IN addition/NN ,/, the/DT Cray-3/NNP will/MD contain/VB 16/CD processors/NNS --/: twice/RB as/RB many/JJ as/IN the/DT largest/JJS current/JJ supercomputer/NN ./.
|
|
Cray/NNP Computer/NNP also/RB will/MD face/VB intense/JJ competition/NN ,/, not/RB only/RB from/IN Cray/NNP Research/NNP ,/, which/WDT has/VBZ about/RB 60/CD %/NN of/IN the/DT world-wide/JJ supercomputer/NN market/NN and/CC which/WDT is/VBZ expected/VBN to/TO roll/VB out/RP the/DT C-90/NN machine/NN ,/, a/DT direct/JJ competitor/NN with/IN the/DT Cray-3/NNP ,/, in/IN 1991/CD ./.
|
|
The/DT spinoff/NN also/RB will/MD compete/VB with/IN International/NNP Business/NNP Machines/NNPS Corp./NNP and/CC Japan/NNP 's/POS Big/JJ Three/CD --/: Hitachi/NNP Ltd./NNP ,/, NEC/NNP Corp./NNP and/CC Fujitsu/NNP Ltd/NNP ./.
|
|
The/DT new/JJ company/NN said/VBD it/PRP believes/VBZ there/EX are/VBP fewer/JJR than/IN 100/CD potential/JJ customers/NNS for/IN supercomputers/NNS priced/VBN between/IN $/$ 15/CD million/CD and/CC $/$ 30/CD million/CD --/: presumably/RB the/DT Cray-3/NNP price/NN range/NN ./.
|
|
Under/IN terms/NNS of/IN the/DT spinoff/NN ,/, Cray/NNP Research/NNP stockholders/NNS are/VBP to/TO receive/VB one/CD Cray/NNP Computer/NNP share/NN for/IN every/DT two/CD Cray/NNP Research/NNP shares/NNS they/PRP own/VBP in/IN a/DT distribution/NN expected/VBN to/TO occur/VB in/IN about/IN two/CD weeks/NNS ./.
|
|
No/DT price/NN for/IN the/DT new/JJ shares/NNS has/VBZ been/VBN set/VBN ./.
|
|
Instead/RB ,/, the/DT companies/NNS will/MD leave/VB it/PRP up/IN to/TO the/DT marketplace/NN to/TO decide/VB ./.
|
|
Cray/NNP Computer/NNP has/VBZ applied/VBN to/TO trade/VB on/IN Nasdaq/NNP ./.
|
|
Analysts/NNS calculate/VBP Cray/NNP Computer/NNP 's/POS initial/JJ book/NN value/NN at/IN about/IN $/$ 4.75/CD a/DT share/NN ./.
|
|
Along/IN with/IN the/DT note/NN ,/, Cray/NNP Research/NNP is/VBZ transferring/VBG about/IN $/$ 53/CD million/CD in/IN assets/NNS ,/, primarily/RB those/DT related/VBN to/TO the/DT Cray-3/CD development/NN ,/, which/WDT has/VBZ been/VBN a/DT drain/NN on/IN Cray/NNP Research/NNP 's/POS earnings/NNS ./.
|
|
Pro-forma/JJ balance/NN sheets/NNS clearly/RB show/VBP why/WRB Cray/NNP Research/NNP favored/VBD the/DT spinoff/NN ./.
|
|
Without/IN the/DT Cray-3/NNP research/NN and/CC development/NN expenses/NNS ,/, the/DT company/NN would/MD have/VB been/VBN able/JJ to/TO report/VB a/DT profit/NN of/IN $/$ 19.3/CD million/CD for/IN the/DT first/JJ half/DT of/IN 1989/CD rather/RB than/IN the/DT $/$ 5.9/CD million/CD it/PRP posted/VBD ./.
|
|
On/IN the/DT other/JJ hand/NN ,/, had/VBD it/PRP existed/VBN then/RB ,/, Cray/NNP Computer/NNP would/MD have/VB incurred/VBN a/DT $/$ 20.5/CD million/CD loss/NN ./.
|
|
Mr./NNP Cray/NNP ,/, who/WP could/MD n't/RB be/VB reached/VBN for/IN comment/NN ,/, will/MD work/VB for/IN the/DT new/JJ Colorado/NNP Springs/NNPS ,/, Colo./NNP ,/, company/NN as/IN an/DT independent/JJ contractor/NN --/: the/DT arrangement/NN he/PRP had/VBD with/IN Cray/NNP Research/NNP ./.
|
|
Regarded/VBN as/IN the/DT father/NN of/IN the/DT supercomputer/NN ,/, Mr./NNP Cray/NNP was/VBD paid/VBN $/$ 600,000/CD at/IN Cray/NNP Research/NNP last/JJ year/NN ./.
|
|
At/IN Cray/NNP Computer/NNP ,/, he/PRP will/MD be/VB paid/VBN $/$ 240,000/CD ./.
|
|
Besides/IN Messrs./NNP Cray/NNP and/CC Barnum/NNP ,/, other/JJ senior/JJ management/NN at/IN the/DT company/NN includes/VBZ Neil/NNP Davenport/NNP ,/, 47/CD ,/, president/NN and/CC chief/NN executive/NN officer/NN ;/: Joseph/NNP M./NNP Blanchard/NNP ,/, 37/CD ,/, vice/NN president/NN ,/, engineering/NN ;/: Malcolm/NNP A./NN Hammerton/NNP ,/, 40/CD ,/, vice/NN president/NN ,/, software/NN ;/: and/CC Douglas/NNP R./NNP Wheeland/NNP ,/, 45/CD ,/, vice/NN president/NN ,/, hardware/NN ./.
|
|
All/DT came/VBD from/IN Cray/NNP Research/NNP ./.
|
|
Cray/NNP Computer/NNP ,/, which/WDT currently/RB employs/VBZ 241/CD people/NNS ,/, said/VBD it/PRP expects/VBZ a/DT work/NN force/NN of/IN 450/CD by/IN the/DT end/NN of/IN 1990/CD ./. John/NNP R./NNP Stevens/NNP ,/, 49/CD years/NNS old/JJ ,/, was/VBD named/VBN senior/JJ executive/NN vice/NN president/NN and/CC chief/NN operating/VBG officer/NN ,/, both/DT new/JJ positions/NNS ./.
|
|
He/PRP will/MD continue/VB to/TO report/VB to/TO Donald/NNP Pardus/NNP ,/, president/NN and/CC chief/NN executive/NN officer/NN ./.
|
|
Mr./NNP Stevens/NNP was/VBD executive/NN vice/NN president/NN of/IN this/DT electric-utility/NN holding/NN company/NN ./.
|
|
Arthur/NNP A./NNP Hatch/NNP ,/, 59/CD ,/, was/VBD named/VBN executive/NN vice/NN president/NN of/IN the/DT company/NN ./.
|
|
He/PRP was/VBD previously/RB president/NN of/IN the/DT company/NN 's/POS Eastern/NNP Edison/NNP Co./NNP unit/NN ./.
|
|
John/NNP D./NNP Carney/NNP ,/, 45/CD ,/, was/VBD named/VBN to/TO succeed/VB Mr./NNP Hatch/NNP as/IN president/NN of/IN Eastern/NNP Edison/NNP ./.
|
|
Previously/RB he/PRP was/VBD vice/RB president/NN of/IN Eastern/NNP Edison/NNP ./.
|
|
Robert/NNP P./NNP Tassinari/NNP ,/, 63/CD ,/, was/VBD named/VBN senior/JJ vice/NN president/NN of/IN Eastern/NNP Utilities/NNPS ./.
|
|
He/PRP was/VBD previously/RB vice/NN president/NN ./. The/DT U.S./NNP ,/, claiming/VBG some/DT success/NN in/IN its/PRP$ trade/NN diplomacy/NN ,/, removed/VBD South/NNP Korea/NNP ,/, Taiwan/NNP and/CC Saudi/NNP Arabia/NNP from/IN a/DT list/NN of/IN countries/NNS it/PRP is/VBZ closely/RB watching/VBG for/IN allegedly/RB failing/VBG to/TO honor/VB U.S./NNP patents/NNS ,/, copyrights/NNS and/CC other/JJ intellectual-property/JJ rights/NNS ./.
|
|
However/RB ,/, five/CD other/JJ countries/NNS --/: China/NNP ,/, Thailand/NNP ,/, India/NNP ,/, Brazil/NNP and/CC Mexico/NNP --/: will/MD remain/VB on/IN that/DT so-called/JJ priority/NN watch/NN list/NN as/IN a/DT result/NN of/IN an/DT interim/JJ review/NN ,/, U.S./NNP Trade/NNP Representative/NNP Carla/NNP Hills/NNP announced/VBD ./.
|
|
Under/IN the/DT new/JJ U.S./NNP trade/NN law/NN ,/, those/DT countries/NNS could/MD face/VB accelerated/JJ unfair-trade/JJ investigations/NNS and/CC stiff/JJ trade/NN sanctions/NNS if/IN they/PRP do/VBP n't/RB improve/VB their/PRP$ protection/NN of/IN intellectual/JJ property/NN by/IN next/JJ spring/NN ./.
|
|
Mrs./NNP Hills/NNP said/VBD many/JJ of/IN the/DT 25/CD countries/NNS that/IN she/PRP placed/VBD under/IN varying/VBG degrees/NNS of/IN scrutiny/NN have/VBP made/VBN ``/`` genuine/JJ progress/NN ''/'' on/IN this/DT touchy/JJ issue/NN ./.
|
|
She/PRP said/VBD there/EX is/VBZ ``/`` growing/VBG realization/NN ''/'' around/IN the/DT world/NN that/DT denial/NN of/IN intellectual-property/JJ rights/NNS harms/VBZ all/DT trading/VBG nations/NNS ,/, and/CC particularly/RB the/DT ``/`` creativity/NN and/CC inventiveness/NN of/IN an/DT {/( offending/VBG }/) country/NN 's/POS own/JJ citizens/NNS ./.
|
|
''/'' U.S./NNP trade/NN negotiators/NNS argue/VBP that/IN countries/NNS with/IN inadequate/JJ protections/NNS for/IN intellectual-property/JJ rights/NNS could/MD be/VB hurting/VBG themselves/PRP by/IN discouraging/VBG their/PRP$ own/JJ scientists/NNS and/CC authors/NNS and/CC by/IN deterring/VBG U.S./NNP high-technology/NN firms/NNS from/IN investing/VBG or/CC marketing/VBG their/PRP$ best/JJS products/NNS there/RB ./.
|
|
Mrs./NNP Hills/NNP lauded/VBD South/NNP Korea/NNP for/IN creating/VBG an/DT intellectual-property/JJ task/NN force/NN and/CC special/JJ enforcement/NN teams/NNS of/IN police/NN officers/NNS and/CC prosecutors/NNS trained/VBN to/TO pursue/VB movie/NN and/CC book/NN pirates/NNS ./.
|
|
Seoul/NNP also/RB has/VBZ instituted/VBN effective/JJ search-and-seizure/JJ procedures/NNS to/TO aid/VB these/DT teams/NNS ,/, she/PRP said/VBD ./.
|
|
Taiwan/NNP has/VBZ improved/VBN its/PRP$ standing/NN with/IN the/DT U.S./NNP by/IN initialing/VBG a/DT bilateral/JJ copyright/NN agreement/NN ,/, amending/VBG its/PRP$ trademark/NN law/NN and/CC introducing/VBG legislation/NN to/TO protect/VB foreign/JJ movie/NN producers/NNS from/IN unauthorized/JJ showings/NNS of/IN their/PRP$ films/NNS ./.
|
|
That/DT measure/NN could/MD compel/VB Taipei/NNP 's/POS growing/VBG number/NN of/IN small/JJ video-viewing/JJ parlors/NNS to/TO pay/VB movie/NN producers/NNS for/IN showing/VBG their/PRP$ films/NNS ./.
|
|
Saudi/NNP Arabia/NNP ,/, for/IN its/PRP$ part/NN ,/, has/VBZ vowed/VBN to/TO enact/VB a/DT copyright/NN law/NN compatible/JJ with/IN international/JJ standards/NNS and/CC to/TO apply/VB the/DT law/NN to/TO computer/NN software/NN as/RB well/RB as/IN to/TO literary/JJ works/NNS ,/, Mrs./NNP Hills/NNP said/VBD ./.
|
|
These/DT three/CD countries/NNS are/VBP n't/RB completely/RB off/IN the/DT hook/NN ,/, though/RB ./.
|
|
They/PRP will/MD remain/VB on/IN a/DT lower-priority/JJ list/NN that/WDT includes/VBZ 17/CD other/JJ countries/NNS ./.
|
|
Those/DT countries/NNS --/: including/IN Japan/NNP ,/, Italy/NNP ,/, Canada/NNP ,/, Greece/NNP and/CC Spain/NNP --/: are/VBP still/RB of/IN some/DT concern/NN to/TO the/DT U.S./NNP but/CC are/VBP deemed/VBN to/TO pose/VB less-serious/JJ problems/NNS for/IN American/JJ patent/NN and/CC copyright/NN owners/NNS than/IN those/DT on/IN the/DT ``/`` priority/NN ''/'' list/NN ./.
|
|
Gary/NNP Hoffman/NNP ,/, a/DT Washington/NNP lawyer/NN specializing/VBG in/IN intellectual-property/JJ cases/NNS ,/, said/VBD the/DT threat/NN of/IN U.S./NNP retaliation/NN ,/, combined/VBN with/IN a/DT growing/VBG recognition/NN that/IN protecting/VBG intellectual/JJ property/NN is/VBZ in/IN a/DT country/NN 's/POS own/JJ interest/NN ,/, prompted/VBD the/DT improvements/NNS made/VBN by/IN South/NNP Korea/NNP ,/, Taiwan/NNP and/CC Saudi/NNP Arabia/NNP ./.
|
|
``/`` What/WP this/DT tells/VBZ us/PRP is/VBZ that/DT U.S./NNP trade/NN law/NN is/VBZ working/VBG ,/, ''/'' he/PRP said/VBD ./.
|
|
He/PRP said/VBD Mexico/NNP could/MD be/VB one/CD of/IN the/DT next/JJ countries/NNS to/TO be/VB removed/VBN from/IN the/DT priority/NN list/NN because/IN of/IN its/PRP$ efforts/NNS to/TO craft/VB a/DT new/JJ patent/NN law/NN ./.
|
|
Mrs./NNP Hills/NNP said/VBD that/IN the/DT U.S./NNP is/VBZ still/RB concerned/VBN about/IN ``/`` disturbing/JJ developments/NNS in/IN Turkey/NNP and/CC continuing/VBG slow/JJ progress/NN in/IN Malaysia/NNP ./.
|
|
''/'' She/PRP did/VBD n't/RB elaborate/JJ ,/, although/IN earlier/JJR U.S./NNP trade/NN reports/NNS have/VBP complained/VBN of/IN videocassette/NN piracy/NN in/IN Malaysia/NNP and/CC disregard/NN for/IN U.S./NNP pharmaceutical/JJ patents/NNS in/IN Turkey/NNP ./.
|
|
The/DT 1988/CD trade/NN act/NN requires/VBZ Mrs./NNP Hills/NNP to/TO issue/VB another/DT review/NN of/IN the/DT performance/NN of/IN these/DT countries/NNS by/IN April/NNP 30/CD ./.
|
|
So/IN far/RB ,/, Mrs./NNP Hills/NNP has/VBZ n't/RB deemed/VBD any/DT cases/NNS bad/JJ enough/RB to/TO merit/VB an/DT accelerated/VBN investigation/NN under/IN the/DT so-called/JJ special/JJ 301/CD provision/NN of/IN the/DT act/NN ./. Argentina/NNP said/VBD it/PRP will/MD ask/VB creditor/NN banks/NNS to/TO halve/VB its/PRP$ foreign/JJ debt/NN of/IN $/$ 64/CD billion/CD --/: the/DT third-highest/JJS in/IN the/DT developing/VBG world/NN ./.
|
|
The/DT declaration/NN by/IN Economy/NNP Minister/NNP Nestor/NNP Rapanelli/NNP is/VBZ believed/VBN to/TO be/VB the/DT first/JJ time/NN such/JJ an/DT action/NN has/VBZ been/VBN called/VBN for/IN by/IN an/DT Argentine/JJ official/NN of/IN such/JJ stature/NN ./.
|
|
The/DT Latin/NNP American/NNP nation/NN has/VBZ paid/VBN very/RB little/RB on/IN its/PRP$ debt/NN since/IN early/JJ last/JJ year/NN ./.
|
|
``/`` Argentina/NNP aspires/VBZ to/TO reach/VB a/DT reduction/NN of/IN 50/CD %/NN in/IN the/DT value/NN of/IN its/PRP$ external/JJ debt/NN ,/, ''/'' Mr./NNP Rapanelli/NNP said/VBD through/IN his/PRP$ spokesman/NN ,/, Miguel/NNP Alurralde/NNP ./.
|
|
Mr./NNP Rapanelli/NNP met/VBD in/IN August/NNP with/IN U.S./NNP Assistant/NNP Treasury/NNP Secretary/NNP David/NNP Mulford/NNP ./.
|
|
Argentine/JJ negotiator/NN Carlos/NNP Carballo/NNP was/VBD in/IN Washington/NNP and/CC New/NNP York/NNP this/DT week/NN to/TO meet/VB with/IN banks/NNS ./.
|
|
Mr./NNP Rapanelli/NNP recently/RB has/VBZ said/VBD the/DT government/NN of/IN President/NNP Carlos/NNP Menem/NNP ,/, who/WP took/VBD office/NN July/NNP 8/CD ,/, feels/VBZ a/DT significant/JJ reduction/NN of/IN principal/NN and/CC interest/NN is/VBZ the/DT only/JJ way/NN the/DT debt/NN problem/NN may/MD be/VB solved/VBN ./.
|
|
But/CC he/PRP has/VBZ not/RB said/VBD before/IN that/IN the/DT country/NN wants/VBZ half/PDT the/DT debt/NN forgiven/VBN ./. (/( During/IN its/PRP$ centennial/NN year/NN ,/, The/NNP Wall/NNP Street/NNP Journal/NNP will/MD report/VB events/NNS of/IN the/DT past/JJ century/NN that/WDT stand/VBP as/IN milestones/NNS of/IN American/JJ business/NN history/NN ./.
|
|
)/) THREE/CD COMPUTERS/NNS THAT/WDT CHANGED/VBD the/DT face/NN of/IN personal/JJ computing/NN were/VBD launched/VBN in/IN 1977/CD ./.
|
|
That/DT year/NN the/DT Apple/NNP II/NNP ,/, Commodore/NNP Pet/NNP and/CC Tandy/NNP TRS-80/NNP came/VBD to/TO market/NN ./.
|
|
The/DT computers/NNS were/VBD crude/JJ by/IN today/NN 's/POS standards/NNS ./.
|
|
Apple/NNP II/NNP owners/NNS ,/, for/IN example/NN ,/, had/VBD to/TO use/VB their/PRP$ television/NN sets/NNS as/IN screens/NNS and/CC stored/VBD data/NNS on/IN audiocassettes/NNS ./.
|
|
But/CC Apple/NNP II/NNP was/VBD a/DT major/JJ advance/NN from/IN Apple/NNP I/NNP ,/, which/WDT was/VBD built/VBN in/IN a/DT garage/NN by/IN Stephen/NNP Wozniak/NNP and/CC Steven/NNP Jobs/NNP for/IN hobbyists/NNS such/JJ as/IN the/DT Homebrew/NNP Computer/NNP Club/NNP ./.
|
|
In/IN addition/NN ,/, the/DT Apple/NNP II/NNP was/VBD an/DT affordable/JJ $/$ 1,298/CD ./.
|
|
Crude/JJ as/IN they/PRP were/VBD ,/, these/DT early/JJ PCs/NNS triggered/VBD explosive/JJ product/NN development/NN in/IN desktop/NN models/NNS for/IN the/DT home/NN and/CC office/NN ./.
|
|
Big/JJ mainframe/NN computers/NNS for/IN business/NN had/VBD been/VBN around/IN for/IN years/NNS ./.
|
|
But/CC the/DT new/JJ 1977/CD PCs/NNS --/: unlike/JJ earlier/JJR built-from-kit/JJ types/NNS such/JJ as/IN the/DT Altair/NNP ,/, Sol/NNP and/CC IMSAI/NNP --/: had/VBD keyboards/NNS and/CC could/MD store/VB about/IN two/CD pages/NNS of/IN data/NNS in/IN their/PRP$ memories/NNS ./.
|
|
Current/JJ PCs/NNS are/VBP more/RBR than/IN 50/CD times/NNS faster/JJR and/CC have/VBP memory/NN capacity/NN 500/CD times/NNS greater/JJR than/IN their/PRP$ 1977/CD counterparts/NNS ./.
|
|
There/EX were/VBD many/JJ pioneer/NN PC/NN contributors/NNS ./.
|
|
William/NNP Gates/NNP and/CC Paul/NNP Allen/NNP in/IN 1975/CD developed/VBD an/DT early/JJ language-housekeeper/JJ system/NN for/IN PCs/NNS ,/, and/CC Gates/NNP became/VBD an/DT industry/NN billionaire/NN six/CD years/NNS after/IN IBM/NNP adapted/VBD one/CD of/IN these/DT versions/NNS in/IN 1981/CD ./.
|
|
Alan/NNP F./NNP Shugart/NNP ,/, currently/RB chairman/NN of/IN Seagate/NNP Technology/NNP ,/, led/VBD the/DT team/NN that/WDT developed/VBD the/DT disk/NN drives/NNS for/IN PCs/NNS ./.
|
|
Dennis/NNP Hayes/NNP and/CC Dale/NNP Heatherington/NNP ,/, two/CD Atlanta/NNP engineers/NNS ,/, were/VBD co-developers/NNS of/IN the/DT internal/JJ modems/NNS that/WDT allow/VBP PCs/NNS to/TO share/VB data/NNS via/IN the/DT telephone/NN ./.
|
|
IBM/NNP ,/, the/DT world/NN leader/NN in/IN computers/NNS ,/, did/VBD n't/RB offer/VB its/PRP$ first/JJ PC/NN until/IN August/NNP 1981/CD as/IN many/JJ other/JJ companies/NNS entered/VBD the/DT market/NN ./.
|
|
Today/NN ,/, PC/NN shipments/NNS annually/RB total/VBP some/DT $/$ 38.3/CD billion/CD world-wide/JJ ./. F.H./NNP Faulding/NNP &/CC Co./NNP ,/, an/DT Australian/JJ pharmaceuticals/NNS company/NN ,/, said/VBD its/PRP$ Moleculon/NNP Inc./NNP affiliate/NN acquired/VBD Kalipharma/NNP Inc./NNP for/IN $/$ 23/CD million/CD ./.
|
|
Kalipharma/NNP is/VBZ a/DT New/JJ Jersey-based/JJ pharmaceuticals/NNS concern/NN that/WDT sells/VBZ products/NNS under/IN the/DT Purepac/NNP label/NN ./.
|
|
Faulding/NNP said/VBD it/PRP owns/VBZ 33/CD %/NN of/IN Moleculon/NNP 's/POS voting/NN stock/NN and/CC has/VBZ an/DT agreement/NN to/TO acquire/VB an/DT additional/JJ 19/CD %/NN ./.
|
|
That/DT stake/NN ,/, together/RB with/IN its/PRP$ convertible/JJ preferred/VBN stock/NN holdings/NNS ,/, gives/VBZ Faulding/NNP the/DT right/NN to/TO increase/VB its/PRP$ interest/NN to/TO 70/CD %/NN of/IN Moleculon/NNP 's/POS voting/NN stock/NN ./. Oil/NN production/NN from/IN Australia/NNP 's/POS Bass/NNP Strait/NNP fields/NNS will/MD be/VB raised/VBN by/IN 11,000/CD barrels/NNS a/DT day/NN to/TO about/IN 321,000/CD barrels/NNS with/IN the/DT launch/NN of/IN the/DT Whiting/NNP field/NN ,/, the/DT first/JJ of/IN five/CD small/JJ fields/NNS scheduled/VBN to/TO be/VB brought/VBN into/IN production/NN before/IN the/DT end/NN of/IN 1990/CD ./.
|
|
Esso/NNP Australia/NNP Ltd./NNP ,/, a/DT unit/NN of/IN New/JJ York-based/JJ Exxon/NNP Corp./NNP ,/, and/CC Broken/NNP Hill/NNP Pty./NNP operate/VBP the/DT fields/NNS in/IN a/DT joint/JJ venture/NN ./.
|
|
Esso/NNP said/VBD the/DT Whiting/NNP field/NN started/VBD production/NN Tuesday/NNP ./.
|
|
Output/NN will/MD be/VB gradually/RB increased/VBN until/IN it/PRP reaches/VBZ about/IN 11,000/CD barrels/NNS a/DT day/NN ./.
|
|
The/DT field/NN has/VBZ reserves/NNS of/IN 21/CD million/CD barrels/NNS ./.
|
|
Reserves/NNS for/IN the/DT five/CD new/JJ fields/NNS total/VBP 50/CD million/CD barrels/NNS ./.
|
|
The/DT Perch/NNP and/CC Dolphin/NNP fields/NNS are/VBP expected/VBN to/TO start/VB producing/VBG early/JJ next/JJ year/NN ,/, and/CC the/DT Seahorse/NNP and/CC Tarwhine/NNP fields/NNS later/JJ next/JJ year/NN ./.
|
|
Esso/NN said/VBD the/DT fields/NNS were/VBD developed/VBN after/IN the/DT Australian/JJ government/NN decided/VBD in/IN 1987/CD to/TO make/VB the/DT first/JJ 30/CD million/CD barrels/NNS from/IN new/JJ fields/NNS free/JJ of/IN excise/JJ tax/NN ./. R.P./NNP Scherer/NNP Corp./NNP said/VBD it/PRP completed/VBD the/DT $/$ 10.2/CD million/CD sale/NN of/IN its/PRP$ Southern/NNP Optical/NNP subsidiary/NN to/TO a/DT group/NN led/VBD by/IN the/DT unit/NN 's/POS president/NN ,/, Thomas/NNP R./NNP Sloan/NNP ,/, and/CC other/JJ managers/NNS ./.
|
|
Following/VBG the/DT acquisition/NN of/IN R.P./NNP Scherer/NNP by/IN a/DT buy-out/JJ group/NN led/VBN by/IN Shearson/NNP Lehman/NNP Hutton/NNP earlier/JJR this/DT year/NN ,/, the/DT maker/NN of/IN gelatin/NN capsules/NNS decided/VBD to/TO divest/VB itself/PRP of/IN certain/JJ of/IN its/PRP$ non-encapsulating/JJ businesses/NNS ./.
|
|
The/DT sale/NN of/IN Southern/NNP Optical/NNP is/VBZ a/DT part/NN of/IN the/DT program/NN ./. The/DT White/NNP House/NNP said/VBD President/NNP Bush/NNP has/VBZ approved/VBN duty-free/JJ treatment/NN for/IN imports/NNS of/IN certain/JJ types/NNS of/IN watches/NNS that/WDT are/VBP n't/RB produced/VBN in/IN ``/`` significant/JJ quantities/NNS ''/'' in/IN the/DT U.S./NNP ,/, the/DT Virgin/NNP Islands/NNPS and/CC other/JJ U.S./NNP possessions/NNS ./.
|
|
The/DT action/NN came/VBD in/IN response/NN to/TO a/DT petition/NN filed/VBN by/IN Timex/NNP Inc./NNP for/IN changes/NNS in/IN the/DT U.S./NNP Generalized/NNP System/NNP of/IN Preferences/NNPS for/IN imports/NNS from/IN developing/VBG nations/NNS ./.
|
|
Previously/RB ,/, watch/NN imports/NNS were/VBD denied/VBN such/JJ duty-free/JJ treatment/NN ./.
|
|
Timex/NNP had/VBD requested/VBN duty-free/JJ treatment/NN for/IN many/JJ types/NNS of/IN watches/NNS ,/, covered/VBN by/IN 58/CD different/JJ U.S./NNP tariff/NN classifications/NNS ./.
|
|
The/DT White/NNP House/NNP said/VBD Mr./NNP Bush/NNP decided/VBD to/TO grant/VB duty-free/JJ status/NN for/IN 18/CD categories/NNS ,/, but/CC turned/VBD down/RP such/JJ treatment/NN for/IN other/JJ types/NNS of/IN watches/NNS ``/`` because/RB of/IN the/DT potential/NN for/IN material/NN injury/NN to/TO watch/VB producers/NNS located/VBN in/IN the/DT U.S./NNP and/CC the/DT Virgin/NNP Islands/NNPS ./.
|
|
''/'' Timex/NNP is/VBZ a/DT major/JJ U.S./NNP producer/NN and/CC seller/NN of/IN watches/NNS ,/, including/VBG low-priced/JJ battery-operated/JJ watches/NNS assembled/VBN in/IN the/DT Philippines/NNP and/CC other/JJ developing/VBG nations/NNS covered/VBN by/IN the/DT U.S./NNP tariff/NN preferences/NNS ./.
|
|
U.S./NNP trade/NN officials/NNS said/VBD the/DT Philippines/NNP and/CC Thailand/NNP would/MD be/VB the/DT main/JJ beneficiaries/NNS of/IN the/DT president/NN 's/POS action/NN ./.
|
|
Imports/NNS of/IN the/DT types/NNS of/IN watches/NNS that/WDT now/RB will/MD be/VB eligible/JJ for/IN duty-free/JJ treatment/NN totaled/VBD about/IN $/$ 37.3/CD million/CD in/IN 1988/CD ,/, a/DT relatively/RB small/JJ share/NN of/IN the/DT $/$ 1.5/CD billion/CD in/IN U.S./NNP watch/NN imports/NNS that/DT year/NN ,/, according/VBG to/TO an/DT aide/NN to/TO U.S./NNP Trade/NNP Representative/NNP Carla/NNP Hills/NNP ./. Magna/NNP International/NNP Inc./NNP 's/POS chief/JJ financial/JJ officer/NN ,/, James/NNP McAlpine/NNP ,/, resigned/JJ and/CC its/PRP$ chairman/NN ,/, Frank/NNP Stronach/NNP ,/, is/VBZ stepping/VBG in/IN to/TO help/VB turn/VB the/DT automotive-parts/JJ manufacturer/NN around/IN ,/, the/DT company/NN said/VBD ./.
|
|
Mr./NNP Stronach/NNP will/MD direct/VB an/DT effort/NN to/TO reduce/VB overhead/NN and/CC curb/VB capital/NN spending/NN ``/`` until/IN a/DT more/RBR satisfactory/JJ level/NN of/IN profit/NN is/VBZ achieved/VBN and/CC maintained/VBN ,/, ''/'' Magna/NNP said/VBD ./.
|
|
Stephen/NNP Akerfeldt/NNP ,/, currently/RB vice/NN president/NN finance/NN ,/, will/MD succeed/VB Mr./NNP McAlpine/NNP ./.
|
|
An/DT ambitious/JJ expansion/NN has/VBZ left/VBN Magna/NNP with/IN excess/JJ capacity/NN and/CC a/DT heavy/JJ debt/NN load/NN as/IN the/DT automotive/JJ industry/NN enters/VBZ a/DT downturn/NN ./.
|
|
The/DT company/NN has/VBZ reported/VBN declines/NNS in/IN operating/NN profit/NN in/IN each/DT of/IN the/DT past/JJ three/CD years/NNS ,/, despite/IN steady/JJ sales/NNS growth/NN ./.
|
|
Magna/NNP recently/RB cut/VBD its/PRP$ quarterly/JJ dividend/NN in/IN half/DT and/CC the/DT company/NN 's/POS Class/NNP A/NNP shares/NNS are/VBP wallowing/VBG far/RB below/IN their/PRP$ 52-week/JJ high/NN of/IN 16.125/CD Canadian/JJ dollars/NNS (/( US$/$ 13.73/CD )/) ./.
|
|
On/IN the/DT Toronto/NNP Stock/NNP Exchange/NNP yesterday/NN ,/, Magna/NNP shares/NNS closed/VBD up/IN 37.5/CD Canadian/JJ cents/NNS to/TO C$/$ 9.625/CD ./.
|
|
Mr./NNP Stronach/NNP ,/, founder/NN and/CC controlling/VBG shareholder/NN of/IN Magna/NNP ,/, resigned/VBD as/IN chief/NN executive/NN officer/NN last/JJ year/NN to/TO seek/VB ,/, unsuccessfully/RB ,/, a/DT seat/NN in/IN Canada/NNP 's/POS Parliament/NNP ./.
|
|
Analysts/NNS said/VBD Mr./NNP Stronach/NNP wants/VBZ to/TO resume/VB a/DT more/RBR influential/JJ role/NN in/IN running/VBG the/DT company/NN ./.
|
|
They/PRP expect/VBP him/PRP to/TO cut/VB costs/NNS throughout/IN the/DT organization/NN ./.
|
|
The/DT company/NN said/VBD Mr./NNP Stronach/NNP will/MD personally/RB direct/VB the/DT restructuring/NN ,/, assisted/VBN by/IN Manfred/NNP Gingl/NNP ,/, president/NN and/CC chief/NN executive/NN ./.
|
|
Neither/DT they/PRP nor/CC Mr./NNP McAlpine/NNP could/MD be/VB reached/VBN for/IN comment/NN ./.
|
|
Magna/NNP said/VBD Mr./NNP McAlpine/NNP resigned/VBD to/TO pursue/VB a/DT consulting/NN career/NN ,/, with/IN Magna/NNP as/IN one/CD of/IN his/PRP$ clients/NNS ./. Lord/NNP Chilver/NNP ,/, 63-year-old/JJ chairman/NN of/IN English/NNP China/NNP Clays/NNP PLC/NNP ,/, was/VBD named/VBN a/DT nonexecutive/JJ director/NN of/IN this/DT British/JJ chemical/NN company/NN ./. Japanese/JJ investors/NNS nearly/RB single-handedly/RB bought/VBD up/RP two/CD new/JJ mortgage/NN securities-based/JJ mutual/JJ funds/NNS totaling/VBG $/$ 701/CD million/CD ,/, the/DT U.S./NNP Federal/NNP National/NNP Mortgage/NNP Association/NNP said/VBD ./.
|
|
The/DT purchases/NNS show/VBP the/DT strong/JJ interest/NN of/IN Japanese/JJ investors/NNS in/IN U.S./NNP mortgage-based/JJ instruments/NNS ,/, Fannie/NNP Mae/NNP 's/POS chairman/NN ,/, David/NNP O./NNP Maxwell/NNP ,/, said/VBD at/IN a/DT news/NN conference/NN ./.
|
|
He/PRP said/VBD more/RBR than/IN 90/CD %/NN of/IN the/DT funds/NNS were/VBD placed/VBN with/IN Japanese/JJ institutional/JJ investors/NNS ./.
|
|
The/DT rest/NN went/VBD to/TO investors/NNS from/IN France/NNP and/CC Hong/NNP Kong/NNP ./.
|
|
Earlier/JJR this/DT year/NN ,/, Japanese/JJ investors/NNS snapped/VBD up/RP a/DT similar/JJ ,/, $/$ 570/CD million/CD mortgage-backed/JJ securities/NNS mutual/JJ fund/NN ./.
|
|
That/DT fund/NN was/VBD put/VBN together/RB by/IN Blackstone/NNP Group/NNP ,/, a/DT New/NNP York/NNP investment/NN bank/NN ./.
|
|
The/DT latest/JJS two/CD funds/NNS were/VBD assembled/VBN jointly/RB by/IN Goldman/NNP ,/, Sachs/NNP &/CC Co./NNP of/IN the/DT U.S./NNP and/CC Japan/NNP 's/POS Daiwa/NNP Securities/NNPS Co/NNP ./.
|
|
The/DT new/JJ ,/, seven-year/JJ funds/NNS --/: one/CD offering/VBG a/DT fixed-rate/JJ return/NN and/CC the/DT other/JJ with/IN a/DT floating-rate/JJ return/NN linked/VBN to/TO the/DT London/NNP interbank/NN offered/VBD rate/NN --/: offer/VBP two/CD key/JJ advantages/NNS to/TO Japanese/JJ investors/NNS ./.
|
|
First/JJ ,/, they/PRP are/VBP designed/VBN to/TO eliminate/VB the/DT risk/NN of/IN prepayment/NN --/: mortgage-backed/JJ securities/NNS can/MD be/VB retired/VBN early/RB if/IN interest/NN rates/NNS decline/VBP ,/, and/CC such/JJ prepayment/NN forces/VBZ investors/NNS to/TO redeploy/VB their/PRP$ money/NN at/IN lower/JJR rates/NNS ./.
|
|
Second/JJ ,/, they/PRP channel/VBP monthly/JJ mortgage/NN payments/NNS into/IN semiannual/JJ payments/NNS ,/, reducing/VBG the/DT administrative/JJ burden/NN on/IN investors/NNS ./.
|
|
By/IN addressing/VBG those/DT problems/NNS ,/, Mr./NNP Maxwell/NNP said/VBD ,/, the/DT new/JJ funds/NNS have/VBP become/VBN ``/`` extremely/RB attractive/JJ to/TO Japanese/JJ and/CC other/JJ investors/NNS outside/IN the/DT U.S/NNP ./.
|
|
''/'' Such/JJ devices/NNS have/VBP boosted/VBN Japanese/JJ investment/NN in/IN mortgage-backed/JJ securities/NNS to/TO more/RBR than/IN 1/CD %/NN of/IN the/DT $/$ 900/CD billion/CD in/IN such/JJ instruments/NNS outstanding/JJ ,/, and/CC their/PRP$ purchases/NNS are/VBP growing/VBG at/IN a/DT rapid/JJ rate/NN ./.
|
|
They/PRP also/RB have/VBP become/VBN large/JJ purchasers/NNS of/IN Fannie/NNP Mae/NNP 's/POS corporate/JJ debt/NN ,/, buying/VBG $/$ 2.4/CD billion/CD in/IN Fannie/NNP Mae/NNP bonds/NNS during/IN the/DT first/JJ nine/CD months/NNS of/IN the/DT year/NN ,/, or/CC almost/RB a/DT tenth/NN of/IN the/DT total/JJ amount/NN issued/VBN ./. James/NNP L./NNP Pate/NNP ,/, 54-year-old/JJ executive/NN vice/NN president/NN ,/, was/VBD named/VBN a/DT director/NN of/IN this/DT oil/NN concern/NN ,/, expanding/VBG the/DT board/NN to/TO 14/CD members/NNS ./. LTV/NNP Corp./NNP said/VBD a/DT federal/JJ bankruptcy/NN court/NN judge/NN agreed/VBD to/TO extend/VB until/IN March/NNP 8/CD ,/, 1990/CD ,/, the/DT period/NN in/IN which/WDT the/DT steel/NN ,/, aerospace/NN and/CC energy/NN products/NNS company/NN has/VBZ the/DT exclusive/JJ right/NN to/TO file/VB a/DT reorganization/NN plan/NN ./.
|
|
The/DT company/NN is/VBZ operating/VBG under/IN Chapter/NN 11/CD of/IN the/DT federal/JJ Bankruptcy/NNP Code/NNP ,/, giving/VBG it/PRP court/NN protection/NN from/IN creditors/NNS '/POS lawsuits/NNS while/IN it/PRP attempts/VBZ to/TO work/VB out/RP a/DT plan/NN to/TO pay/VB its/PRP$ debts/NNS ./. Italian/JJ chemical/NN giant/NN Montedison/NNP S.p.A./NNP ,/, through/IN its/PRP$ Montedison/NNP Acquisition/NNP N.V./NNP indirect/JJ unit/NN ,/, began/VBD its/PRP$ $/$ 37-a-share/JJ tender/NN offer/NN for/IN all/DT the/DT common/JJ shares/NNS outstanding/JJ of/IN Erbamont/NNP N.V./NNP ,/, a/DT maker/NN of/IN pharmaceuticals/NNS incorporated/VBN in/IN the/DT Netherlands/NNPS ./.
|
|
The/DT offer/NN ,/, advertised/VBN in/IN today/NN 's/POS editions/NNS of/IN The/DT Wall/NNP Street/NNP Journal/NNP ,/, is/VBZ scheduled/VBN to/TO expire/VB at/IN the/DT end/NN of/IN November/NNP ./.
|
|
Montedison/NN currently/RB owns/VBZ about/IN 72/CD %/NN of/IN Erbamont/NN 's/POS common/JJ shares/NNS outstanding/JJ ./.
|
|
The/DT offer/NN is/VBZ being/VBG launched/VBN pursuant/JJ to/TO a/DT previously/RB announced/VBN agreement/NN between/IN the/DT companies/NNS ./. Japan/NNP 's/POS reserves/NNS of/IN gold/NN ,/, convertible/JJ foreign/JJ currencies/NNS ,/, and/CC special/JJ drawing/NN rights/NNS fell/VBD by/IN a/DT hefty/JJ $/$ 1.82/CD billion/CD in/IN October/NNP to/TO $/$ 84.29/CD billion/CD ,/, the/DT Finance/NNP Ministry/NNP said/VBD ./.
|
|
The/DT total/NN marks/VBZ the/DT sixth/JJ consecutive/JJ monthly/JJ decline/NN ./.
|
|
The/DT protracted/JJ downturn/NN reflects/VBZ the/DT intensity/NN of/IN Bank/NNP of/IN Japan/NNP yen-support/JJ intervention/NN since/IN June/NNP ,/, when/WRB the/DT U.S./NNP currency/NN temporarily/RB surged/VBD above/IN the/DT 150.00/CD yen/NNS level/NN ./.
|
|
The/DT announcement/NN follows/VBZ a/DT sharper/JJR $/$ 2.2/CD billion/CD decline/NN in/IN the/DT country/NN 's/POS foreign/JJ reserves/NNS in/IN September/NNP to/TO $/$ 86.12/CD billion/CD ./. Pick/VB a/DT country/NN ,/, any/DT country/NN ./.
|
|
It/PRP 's/VBZ the/DT latest/JJS investment/NN craze/NN sweeping/VBG Wall/NNP Street/NNP :/: a/DT rash/NN of/IN new/JJ closed-end/JJ country/NN funds/NNS ,/, those/DT publicly/RB traded/VBN portfolios/NNS that/WDT invest/VBP in/IN stocks/NNS of/IN a/DT single/JJ foreign/JJ country/NN ./.
|
|
No/RB fewer/JJR than/IN 24/CD country/NN funds/NNS have/VBP been/VBN launched/VBN or/CC registered/VBN with/IN regulators/NNS this/DT year/NN ,/, triple/RB the/DT level/NN of/IN all/DT of/IN 1988/CD ,/, according/VBG to/TO Charles/NNP E./NNP Simon/NNP &/CC Co./NNP ,/, a/DT Washington-based/JJ research/NN firm/NN ./.
|
|
The/DT turf/NN recently/RB has/VBZ ranged/VBN from/IN Chile/NNP to/TO Austria/NNP to/TO Portugal/NNP ./.
|
|
Next/JJ week/NN ,/, the/DT Philippine/NNP Fund/NNP 's/POS launch/NN will/MD be/VB capped/VBN by/IN a/DT visit/NN by/IN Philippine/JJ President/NNP Corazon/NNP Aquino/NNP --/: the/NNP first/JJ time/NN a/DT head/NN of/IN state/NN has/VBZ kicked/VBN off/RP an/DT issue/NN at/IN the/DT Big/NNP Board/NNP here/RB ./.
|
|
The/DT next/JJ province/NN ?/. ``/`` Anything/NN 's/VBZ possible/JJ --/: how/WRB about/RP the/DT New/NNP Guinea/NNP Fund/NNP ?/. ''/'' quips/VBZ George/NNP Foot/NNP ,/, a/DT managing/VBG partner/NN at/IN Newgate/NNP Management/NNP Associates/NNP of/IN Northampton/NNP ,/, Mass/NNP ./.
|
|
The/DT recent/JJ explosion/NN of/IN country/NN funds/NNS mirrors/VBZ the/DT ``/`` closed-end/JJ fund/NN mania/NN ''/'' of/IN the/DT 1920s/NNS ,/, Mr./NNP Foot/NNP says/VBZ ,/, when/WRB narrowly/RB focused/VBN funds/NNS grew/VBD wildly/RB popular/JJ ./.
|
|
They/PRP fell/VBD into/IN oblivion/NN after/IN the/DT 1929/CD crash/NN ./.
|
|
Unlike/IN traditional/JJ open-end/JJ mutual/JJ funds/NNS ,/, most/RBS of/IN these/DT one-country/JJ portfolios/NNS are/VBP the/DT ``/`` closed-end/JJ ''/'' type/NN ,/, issuing/VBG a/DT fixed/VBN number/NN of/IN shares/NNS that/WDT trade/VBP publicly/RB ./.
|
|
The/DT surge/NN brings/VBZ to/TO nearly/RB 50/CD the/DT number/NN of/IN country/NN funds/NNS that/WDT are/VBP or/CC soon/RB will/MD be/VB listed/VBN in/IN New/NNP York/NNP or/CC London/NNP ./.
|
|
These/DT funds/NNS now/RB account/VBP for/IN several/JJ billions/NNS of/IN dollars/NNS in/IN assets/NNS ./.
|
|
``/`` People/NNS are/VBP looking/VBG to/TO stake/VB their/PRP$ claims/NNS ''/'' now/RB before/RB the/DT number/NN of/IN available/JJ nations/NNS runs/VBZ out/RP ,/, says/VBZ Michael/NNP Porter/NNP ,/, an/DT analyst/NN at/IN Smith/NNP Barney/NNP ,/, Harris/NNP Upham/NNP &/CC Co./NNP ,/, New/NNP York/NNP ./.
|
|
Behind/IN all/DT the/DT hoopla/NN is/VBZ some/DT heavy-duty/JJ competition/NN ./.
|
|
As/IN individual/JJ investors/NNS have/VBP turned/VBN away/RB from/IN the/DT stock/NN market/NN over/IN the/DT years/NNS ,/, securities/NNS firms/NNS have/VBP scrambled/VBN to/TO find/VB new/JJ products/NNS that/WDT brokers/NNS find/VBP easy/JJ to/TO sell/VB ./.
|
|
And/CC the/DT firms/NNS are/VBP stretching/VBG their/PRP$ nets/NNS far/RB and/CC wide/RB to/TO do/VB it/PRP ./.
|
|
Financial/JJ planners/NNS often/RB urge/VBP investors/NNS to/TO diversify/VB and/CC to/TO hold/VB a/DT smattering/NN of/IN international/JJ securities/NNS ./.
|
|
And/CC many/JJ emerging/VBG markets/NNS have/VBP outpaced/VBN more/RBR mature/JJ markets/NNS ,/, such/JJ as/IN the/DT U.S./NNP and/CC Japan/NNP ./.
|
|
Country/NN funds/NNS offer/VBP an/DT easy/JJ way/NN to/TO get/VB a/DT taste/NN of/IN foreign/JJ stocks/NNS without/IN the/DT hard/JJ research/NN of/IN seeking/VBG out/RP individual/JJ companies/NNS ./.
|
|
But/CC it/PRP does/VBZ n't/RB take/VB much/JJ to/TO get/VB burned/VBN ./.
|
|
Political/JJ and/CC currency/NN gyrations/NNS can/MD whipsaw/VB the/DT funds/NNS ./.
|
|
Another/DT concern/NN :/: The/DT funds/NNS '/POS share/NN prices/NNS tend/VBP to/TO swing/VB more/RBR than/IN the/DT broader/JJR market/NN ./.
|
|
When/WRB the/DT stock/NN market/NN dropped/VBD nearly/RB 7/CD %/NN Oct./NNP 13/CD ,/, for/IN instance/NN ,/, the/DT Mexico/NNP Fund/NNP plunged/VBD about/RB 18/CD %/NN and/CC the/DT Spain/NNP Fund/NNP fell/VBD 16/CD %/NN ./.
|
|
And/CC most/JJS country/NN funds/NNS were/VBD clobbered/VBN more/RBR than/IN most/JJS stocks/NNS after/IN the/DT 1987/CD crash/NN ./.
|
|
What/WP 's/VBZ so/RB wild/JJ about/IN the/DT funds/NNS '/POS frenzy/NN right/RB now/RB is/VBZ that/IN many/JJ are/VBP trading/VBG at/IN historically/RB fat/JJ premiums/NNS to/TO the/DT value/NN of/IN their/PRP$ underlying/JJ portfolios/NNS ./.
|
|
After/IN trading/VBG at/IN an/DT average/JJ discount/NN of/IN more/JJR than/IN 20/CD %/NN in/IN late/JJ 1987/CD and/CC part/NN of/IN last/JJ year/NN ,/, country/NN funds/NNS currently/RB trade/VBP at/IN an/DT average/JJ premium/NN of/IN 6/CD %/NN ./.
|
|
The/DT reason/NN :/: Share/NN prices/NNS of/IN many/JJ of/IN these/DT funds/NNS this/DT year/NN have/VBP climbed/VBN much/RB more/RBR sharply/RB than/IN the/DT foreign/JJ stocks/NNS they/PRP hold/VBP ./.
|
|
It/PRP 's/VBZ probably/RB worth/IN paying/VBG a/DT premium/NN for/IN funds/NNS that/WDT invest/VBP in/IN markets/NNS that/WDT are/VBP partially/RB closed/VBN to/TO foreign/JJ investors/NNS ,/, such/JJ as/IN South/NNP Korea/NNP ,/, some/DT specialists/NNS say/VBP ./.
|
|
But/CC some/DT European/JJ funds/NNS recently/RB have/VBP skyrocketed/VBN ;/: Spain/NNP Fund/NNP has/VBZ surged/VBN to/TO a/DT startling/JJ 120/CD %/NN premium/NN ./.
|
|
It/PRP has/VBZ been/VBN targeted/VBN by/IN Japanese/JJ investors/NNS as/IN a/DT good/JJ long-term/JJ play/NN tied/VBN to/TO 1992/CD 's/POS European/JJ economic/JJ integration/NN ./.
|
|
And/CC several/JJ new/JJ funds/NNS that/WDT are/VBP n't/RB even/RB fully/RB invested/VBN yet/RB have/VBP jumped/VBN to/TO trade/VB at/IN big/JJ premiums/NNS ./.
|
|
``/`` I/PRP 'm/VBP very/RB alarmed/VBN to/TO see/VB these/DT rich/JJ valuations/NNS ,/, ''/'' says/VBZ Smith/NNP Barney/NNP 's/POS Mr./NNP Porter/NNP ./.
|
|
The/DT newly/RB fattened/VBN premiums/NNS reflect/VBP the/DT increasingly/RB global/JJ marketing/NN of/IN some/DT country/NN funds/NNS ,/, Mr./NNP Porter/NNP suggests/VBZ ./.
|
|
Unlike/IN many/JJ U.S./NNP investors/NNS ,/, those/DT in/IN Asia/NNP or/CC Europe/NNP seeking/VBG foreign-stock/JJ exposure/NN may/MD be/VB less/RBR resistant/JJ to/TO paying/VBG higher/JJR prices/NNS for/IN country/NN funds/NNS ./.
|
|
``/`` There/EX may/MD be/VB an/DT international/JJ viewpoint/NN cast/VBN on/IN the/DT funds/NNS listed/VBN here/RB ,/, ''/'' Mr./NNP Porter/NNP says/VBZ ./.
|
|
Nonetheless/RB ,/, plenty/JJ of/IN U.S./NNP analysts/NNS and/CC money/NN managers/NNS are/VBP aghast/JJ at/IN the/DT lofty/JJ trading/NN levels/NNS of/IN some/DT country/NN funds/NNS ./.
|
|
They/PRP argue/VBP that/IN U.S./NNP investors/NNS often/RB can/MD buy/VB American/JJ depositary/JJ receipts/NNS on/IN the/DT big/JJ stocks/NNS in/IN many/JJ funds/NNS ;/: these/DT so-called/JJ ADRs/NNPS represent/VBP shares/NNS of/IN foreign/JJ companies/NNS traded/VBN in/IN the/DT U.S/NNP ./.
|
|
That/DT way/NN investors/NNS can/MD essentially/RB buy/VB the/DT funds/NNS without/IN paying/VBG the/DT premium/NN ./.
|
|
For/IN people/NNS who/WP insist/VBP on/RP jumping/VBG in/RB now/RB to/TO buy/VB the/DT funds/NNS ,/, Newgate/NNP 's/POS Mr./NNP Foot/NNP says/VBZ :/: ``/`` The/DT only/JJ advice/NN I/PRP have/VBP for/IN these/DT folks/NNS is/VBZ that/IN those/DT who/WP come/VBP to/TO the/DT party/NN late/RB had/VBD better/RBR be/VB ready/JJ to/TO leave/VB quickly/RB ./.
|
|
''/'' The/DT U.S./NNP and/CC Soviet/NNP Union/NNP are/VBP holding/VBG technical/JJ talks/NNS about/IN possible/JJ repayment/NN by/IN Moscow/NNP of/IN $/$ 188/CD million/CD in/IN pre-Communist/JJ Russian/JJ debts/NNS owed/VBD to/TO the/DT U.S./NNP government/NN ,/, the/DT State/NNP Department/NNP said/VBD ./.
|
|
If/IN the/DT debts/NNS are/VBP repaid/VBN ,/, it/PRP could/MD clear/VB the/DT way/NN for/IN Soviet/JJ bonds/NNS to/TO be/VB sold/VBN in/IN the/DT U.S/NNP ./.
|
|
However/RB ,/, after/IN two/CD meetings/NNS with/IN the/DT Soviets/NNS ,/, a/DT State/NNP Department/NNP spokesman/NN said/VBD that/IN it/PRP 's/VBZ ``/`` too/RB early/RB to/TO say/VB ''/'' whether/IN that/DT will/MD happen/VB ./.
|
|
Coincident/JJ with/IN the/DT talks/NNS ,/, the/DT State/NNP Department/NNP said/VBD it/PRP has/VBZ permitted/VBN a/DT Soviet/JJ bank/NN to/TO open/VB a/DT New/NNP York/NNP branch/NN ./.
|
|
The/DT branch/NN of/IN the/DT Bank/NNP for/IN Foreign/NNP Economic/NNP Affairs/NNP was/VBD approved/VBN last/JJ spring/NN and/CC opened/VBD in/IN July/NNP ./.
|
|
But/CC a/DT Soviet/JJ bank/NN here/RB would/MD be/VB crippled/VBN unless/IN Moscow/NNP found/VBD a/DT way/NN to/TO settle/VB the/DT $/$ 188/CD million/CD debt/NN ,/, which/WDT was/VBD lent/VBN to/TO the/DT country/NN 's/POS short-lived/JJ democratic/JJ Kerensky/NNP government/NN before/IN the/DT Communists/NNS seized/VBD power/NN in/IN 1917/CD ./.
|
|
Under/IN a/DT 1934/CD law/NN ,/, the/DT Johnson/NNP Debt/NNP Default/NNP Act/NNP ,/, as/RB amended/VBN ,/, it/PRP 's/VBZ illegal/JJ for/IN Americans/NNS to/TO extend/VB credit/NN to/TO countries/NNS in/IN default/NN to/TO the/DT U.S./NNP government/NN ,/, unless/IN they/PRP are/VBP members/NNS of/IN the/DT World/NNP Bank/NNP and/CC International/NNP Monetary/NNP Fund/NNP ./.
|
|
The/DT U.S.S.R./NNP belongs/VBZ to/TO neither/DT organization/NN ./.
|
|
Moscow/NNP has/VBZ settled/VBN pre-1917/JJ debts/NNS with/IN other/JJ countries/NNS in/IN recent/JJ years/NNS at/IN less/JJR than/IN face/NN value/NN ./.
|
|
The/DT State/NNP Department/NNP stressed/VBD the/DT pre-1933/JJ debts/NNS as/IN the/DT key/NN to/TO satisfying/VBG the/DT Johnson/NNP Act/NNP ./.
|
|
But/CC the/DT Soviets/NNS might/MD still/RB face/VB legal/JJ obstacles/NNS to/TO raising/VBG money/NN in/IN the/DT U.S./NNP until/IN they/PRP settle/VBP hundreds/NNS of/IN millions/NNS of/IN dollars/NNS in/IN additional/JJ debt/NN still/RB outstanding/JJ from/IN the/DT World/NNP War/NNP II/NNP lend-lease/JJ program/NN ./. In/IN another/DT reflection/NN that/IN the/DT growth/NN of/IN the/DT economy/NN is/VBZ leveling/VBG off/RP ,/, the/DT government/NN said/VBD that/IN orders/NNS for/IN manufactured/VBN goods/NNS and/CC spending/NN on/IN construction/NN failed/VBD to/TO rise/VB in/IN September/NNP ./.
|
|
Meanwhile/RB ,/, the/DT National/NNP Association/NNP of/IN Purchasing/NNP Management/NNP said/VBD its/PRP$ latest/JJS survey/NN indicated/VBD that/IN the/DT manufacturing/NN economy/NN contracted/VBD in/IN October/NNP for/IN the/DT sixth/JJ consecutive/JJ month/NN ./.
|
|
Its/PRP$ index/NN inched/VBD up/RB to/TO 47.6/CD %/NN in/IN October/NNP from/IN 46/CD %/NN in/IN September/NNP ./.
|
|
Any/DT reading/NN below/IN 50/CD %/NN suggests/VBZ the/DT manufacturing/NN sector/NN is/VBZ generally/RB declining/VBG ./.
|
|
The/DT purchasing/VBG managers/NNS ,/, however/RB ,/, also/RB said/VBD that/IN orders/NNS turned/VBD up/RB in/IN October/NNP after/IN four/CD months/NNS of/IN decline/NN ./.
|
|
Factories/NNS booked/VBD $/$ 236.74/CD billion/CD in/IN orders/NNS in/IN September/NNP ,/, nearly/RB the/DT same/JJ as/IN the/DT $/$ 236.79/CD billion/CD in/IN August/NNP ,/, the/DT Commerce/NNP Department/NNP said/VBD ./.
|
|
If/IN not/RB for/IN a/DT 59.6/CD %/NN surge/NN in/IN orders/NNS for/IN capital/NN goods/NNS by/IN defense/NN contractors/NNS ,/, factory/NN orders/NNS would/MD have/VB fallen/VBN 2.1/CD %/NN ./.
|
|
In/IN a/DT separate/JJ report/NN ,/, the/DT department/NN said/VBD construction/NN spending/NN ran/VBD at/IN an/DT annual/JJ rate/NN of/IN $/$ 415.6/CD billion/CD ,/, not/RB significantly/RB different/JJ from/IN the/DT $/$ 415.8/CD billion/CD reported/VBN for/IN August/NNP ./.
|
|
Private/JJ construction/NN spending/NN was/VBD down/RB ,/, but/CC government/NN building/NN activity/NN was/VBD up/RB ./.
|
|
The/DT figures/NNS in/IN both/DT reports/NNS were/VBD adjusted/VBN to/TO remove/VB the/DT effects/NNS of/IN usual/JJ seasonal/JJ patterns/NNS ,/, but/CC were/VBD n't/RB adjusted/VBN for/IN inflation/NN ./.
|
|
Kenneth/NNP Mayland/NNP ,/, economist/NN for/IN Society/NNP Corp./NNP ,/, a/DT Cleveland/NNP bank/NN ,/, said/VBD demand/NN for/IN exports/NNS of/IN factory/NN goods/NNS is/VBZ beginning/VBG to/TO taper/VB off/RP ./.
|
|
At/IN the/DT same/JJ time/NN ,/, the/DT drop/NN in/IN interest/NN rates/NNS since/IN the/DT spring/NN has/VBZ failed/VBN to/TO revive/VB the/DT residential/JJ construction/NN industry/NN ./.
|
|
``/`` What/WP sector/NN is/VBZ stepping/VBG forward/RB to/TO pick/VB up/RP the/DT slack/NN ?/. ''/'' he/PRP asked/VBD ./.
|
|
``/`` I/PRP draw/VBP a/DT blank/NN ./.
|
|
''/'' By/IN most/JJS measures/NNS ,/, the/DT nation/NN 's/POS industrial/JJ sector/NN is/VBZ now/RB growing/VBG very/RB slowly/RB --/: if/IN at/IN all/DT ./.
|
|
Factory/NN payrolls/NNS fell/VBD in/IN September/NNP ./.
|
|
So/RB did/VBD the/DT Federal/NNP Reserve/NNP Board/NNP 's/POS industrial-production/JJ index/NN ./.
|
|
Yet/CC many/JJ economists/NNS are/VBP n't/RB predicting/VBG that/IN the/DT economy/NN is/VBZ about/IN to/TO slip/VB into/IN recession/NN ./.
|
|
They/PRP cite/VBP a/DT lack/NN of/IN ``/`` imbalances/NNS ''/'' that/WDT provide/VBP early/JJ warning/NN signals/NNS of/IN a/DT downturn/NN ./.
|
|
Inventories/NNS are/VBP closely/RB watched/VBN for/IN such/JJ clues/NNS ,/, for/IN instance/NN ./.
|
|
Economists/NNS say/VBP a/DT buildup/NN in/IN inventories/NNS can/MD provoke/VB cutbacks/NNS in/IN production/NN that/WDT can/MD lead/VB to/TO a/DT recession/NN ./.
|
|
But/CC yesterday/NN 's/POS factory/NN orders/NNS report/NN had/VBD good/JJ news/NN on/IN that/DT front/NN :/: it/PRP said/VBD factory/NN inventories/NNS fell/VBD 0.1/CD %/NN in/IN September/NNP ,/, the/DT first/JJ decline/NN since/IN February/NNP 1987/CD ./.
|
|
``/`` This/DT conforms/VBZ to/TO the/DT `/`` soft/JJ landing/NN '/'' scenario/NN ,/, ''/'' said/VBD Elliott/NNP Platt/NNP ,/, an/DT economist/NN at/IN Donaldson/NNP ,/, Lufkin/NNP &/CC Jenrette/NNP Securities/NNP Corp/NNP ./.
|
|
``/`` I/PRP do/VBP n't/RB see/VB any/DT signs/NNS that/IN inventories/NNS are/VBP excessive/JJ ./.
|
|
''/'' A/DT soft/JJ landing/NN is/VBZ an/DT economic/JJ slowdown/NN that/WDT eases/VBZ inflation/NN without/IN leading/VBG to/TO a/DT recession/NN ./.
|
|
The/DT department/NN said/VBD orders/NNS for/IN nondurable/JJ goods/NNS --/: those/DT intended/VBN to/TO last/VB fewer/JJR than/IN three/CD years/NNS --/: fell/VBD 0.3/CD %/NN in/IN September/NNP to/TO $/$ 109.73/CD billion/CD after/RB climbing/VBG 0.9/CD %/NN the/DT month/NN before/RB ./.
|
|
Orders/NNS for/IN durable/JJ goods/NNS were/VBD up/RB 0.2/CD %/NN to/TO $/$ 127.03/CD billion/CD after/IN rising/VBG 3.9/CD %/NN the/DT month/NN before/RB ./.
|
|
The/DT department/NN previously/RB estimated/VBD that/IN durable-goods/NNS orders/NNS fell/VBD 0.1/CD %/NN in/IN September/NNP ./.
|
|
Factory/NN shipments/NNS fell/VBD 1.6/CD %/NN to/TO $/$ 234.4/CD billion/CD after/IN rising/VBG 5.4/CD %/NN in/IN August/NNP ./.
|
|
Shipments/NNS have/VBP been/VBN relatively/RB level/JJ since/IN January/NNP ,/, the/DT Commerce/NNP Department/NNP noted/VBD ./.
|
|
Manufacturers/NNS '/POS backlogs/NNS of/IN unfilled/JJ orders/NNS rose/VBD 0.5/CD %/NN in/IN September/NNP to/TO $/$ 497.34/CD billion/CD ,/, helped/VBN by/IN strength/NN in/IN the/DT defense/NN capital/NN goods/NNS sector/NN ./.
|
|
Excluding/VBG these/DT orders/NNS ,/, backlogs/NNS declined/VBD 0.3/CD %/NN ./.
|
|
In/IN its/PRP$ construction/NN spending/NN report/NN ,/, the/DT Commerce/NNP Department/NNP said/VBD residential/JJ construction/NN ,/, which/WDT accounts/VBZ for/IN nearly/RB half/NN of/IN all/DT construction/NN spending/NN ,/, was/VBD off/JJ 0.9/CD %/NN in/IN September/NNP to/TO an/DT annual/JJ rate/NN of/IN $/$ 191.9/CD billion/CD ./.
|
|
David/NNP Berson/NNP ,/, economist/NN for/IN the/DT Mortgage/NNP Bankers/NNP Association/NNP ,/, predicted/VBD the/DT drop/NN in/IN interest/NN rates/NNS eventually/RB will/MD boost/VB spending/NN on/IN single-family/JJ homes/NNS ,/, but/CC probably/RB not/RB until/IN early/JJ next/JJ year/NN ./.
|
|
Spending/NN on/IN private/JJ ,/, nonresidential/JJ construction/NN was/VBD off/JJ 2.6/CD %/NN to/TO an/DT annual/JJ rate/NN of/IN $/$ 99.1/CD billion/CD with/IN no/DT sector/NN showing/VBG strength/NN ./.
|
|
Government/NNP construction/NN spending/NN rose/VBD 4.3/CD %/NN to/TO $/$ 88/CD billion/CD ./.
|
|
After/RB adjusting/VBG for/IN inflation/NN ,/, the/DT Commerce/NNP Department/NNP said/VBD construction/NN spending/NN did/VBD n't/RB change/VB in/IN September/NNP ./.
|
|
For/IN the/DT first/JJ nine/CD months/NNS of/IN the/DT year/NN ,/, total/JJ construction/NN spending/NN ran/VBD about/RB 2/CD %/NN above/IN last/JJ year/NN 's/POS level/NN ./.
|
|
The/DT government/NN 's/POS construction/NN spending/NN figures/NNS contrast/VBP with/IN a/DT report/NN issued/VBD earlier/RBR in/IN the/DT week/NN by/IN McGraw-Hill/NNP Inc./NNP 's/POS F.W./NNP Dodge/NNP Group/NNP ./.
|
|
Dodge/NNP reported/VBD an/DT 8/CD %/NN increase/NN in/IN construction/NN contracts/NNS awarded/VBN in/IN September/NNP ./.
|
|
The/DT goverment/NN counts/VBZ money/NN as/IN it/PRP is/VBZ spent/VBN ;/: Dodge/NNP counts/VBZ contracts/NNS when/WRB they/PRP are/VBP awarded/VBN ./.
|
|
The/DT government/NN includes/VBZ money/NN spent/VBN on/IN residential/JJ renovation/NN ;/: Dodge/NNP does/VBZ n't/RB ./.
|
|
Although/IN the/DT purchasing/NN managers/NNS '/POS index/NN continues/VBZ to/TO indicate/VB a/DT slowing/VBG economy/NN ,/, it/PRP is/VBZ n't/RB signaling/VBG an/DT imminent/JJ recession/NN ,/, said/VBD Robert/NNP Bretz/NNP ,/, chairman/NN of/IN the/DT association/NN 's/POS survey/NN committee/NN and/CC director/NN of/IN materials/NNS management/NN at/IN Pitney/NNP Bowes/NNP Inc./NNP ,/, Stamford/NNP ,/, Conn/NNP ./.
|
|
He/PRP said/VBD the/DT index/NN would/MD have/VB to/TO be/VB in/IN the/DT low/JJ 40/CD %/NN range/NN for/IN several/JJ months/NNS to/TO be/VB considered/VBN a/DT forecast/NN of/IN recession/NN ./.
|
|
The/DT report/NN offered/VBD new/JJ evidence/NN that/IN the/DT nation/NN 's/POS export/NN growth/NN ,/, though/IN still/RB continuing/VBG ,/, may/MD be/VB slowing/VBG ./.
|
|
Only/RB 19/CD %/NN of/IN the/DT purchasing/VBG managers/NNS reported/VBD better/JJR export/NN orders/NNS in/IN October/NNP ,/, down/RB from/IN 27/CD %/NN in/IN September/NNP ./.
|
|
And/CC 8/CD %/NN said/VBD export/NN orders/NNS were/VBD down/RB last/JJ month/NN ,/, compared/VBN with/IN 6/CD %/NN the/DT month/NN before/RB ./.
|
|
The/DT purhasing/NN managers/NNS '/POS report/NN also/RB added/VBD evidence/NN that/IN inflation/NN is/VBZ under/IN control/NN ./.
|
|
For/IN the/DT fifth/JJ consecutive/JJ month/NN ,/, purchasing/VBG managers/NNS said/VBD prices/NNS for/IN the/DT goods/NNS they/PRP purchased/VBD fell/VBD ./.
|
|
The/DT decline/NN was/VBD even/RB steeper/JJR than/IN in/IN September/NNP ./.
|
|
They/PRP also/RB said/VBD that/IN vendors/NNS were/VBD delivering/VBG goods/NNS more/RBR quickly/RB in/IN October/NNP than/IN they/PRP had/VBD for/IN each/DT of/IN the/DT five/CD previous/JJ months/NNS ./.
|
|
Economists/NNS consider/VBP that/DT a/DT sign/NN that/IN inflationary/JJ pressures/NNS are/VBP abating/VBG ./.
|
|
When/WRB demand/NN is/VBZ stronger/JJR than/IN suppliers/NNS can/MD handle/VB and/CC delivery/NN times/NNS lengthen/VBP ,/, prices/NNS tend/VBP to/TO rise/VB ./.
|
|
The/DT purchasing/NN managers/NNS '/POS report/NN is/VBZ based/VBN on/IN data/NNS provided/VBN by/IN more/RBR than/IN 250/CD purchasing/NN executives/NNS ./.
|
|
Each/DT of/IN the/DT survey/NN 's/POS indicators/NNS gauges/VBZ the/DT difference/NN between/IN the/DT number/NN of/IN purchasers/NNS reporting/VBG improvement/NN in/IN a/DT particular/JJ area/NN and/CC the/DT number/NN reporting/VBG a/DT worsening/NN ./.
|
|
For/IN the/DT first/JJ time/NN ,/, the/DT October/NNP survey/NN polled/VBD members/NNS on/IN imports/NNS ./.
|
|
It/PRP found/VBD that/IN of/IN the/DT 73/CD %/NN who/WP import/VBP ,/, 10/CD %/NN said/VBD they/PRP imported/VBD more/RBR in/IN October/NNP and/CC 12/CD %/NN said/VBD they/PRP imported/VBD less/JJR than/IN the/DT previous/JJ month/NN ./.
|
|
While/IN acknowledging/VBG one/CD month/NN 's/POS figures/NNS do/VBP n't/RB prove/VB a/DT trend/NN ,/, Mr./NNP Bretz/NNP said/VBD ,/, ``/`` It/PRP does/VBZ lead/VB you/PRP to/TO suspect/VB imports/NNS are/VBP going/VBG down/RB ,/, or/CC at/IN least/JJS not/RB increasing/VBG that/RB much/RB ./.
|
|
''/'' Items/NNS listed/VBN as/IN being/VBG in/IN short/JJ supply/NN numbered/VBD only/RB about/RB a/DT dozen/NN ,/, but/CC they/PRP included/VBD one/CD newcomer/NN :/: milk/NN and/CC milk/NN powder/NN ./.
|
|
``/`` It/PRP 's/VBZ an/DT odd/JJ thing/NN to/TO put/VB on/IN the/DT list/NN ,/, ''/'' Mr./NNP Bretz/NNP noted/VBD ./.
|
|
He/PRP said/VBD that/IN for/IN the/DT second/JJ month/NN in/IN a/DT row/NN ,/, food/NN processors/NNS reported/VBD a/DT shortage/NN of/IN nonfat/JJ dry/JJ milk/NN ./.
|
|
They/PRP blamed/VBD increased/VBN demand/NN for/IN dairy/NN products/NNS at/IN a/DT time/NN of/IN exceptionally/RB high/JJ U.S./NNP exports/NNS of/IN dry/JJ milk/NN ,/, coupled/VBN with/IN very/RB low/JJ import/NN quotas/NNS ./.
|
|
Pamela/NNP Sebastian/NNP in/IN New/NNP York/NNP contributed/VBD to/TO this/DT article/NN ./.
|
|
Here/RB are/VBP the/DT Commerce/NNP Department/NNP 's/POS figures/NNS for/IN construction/NN spending/NN in/IN billions/NNS of/IN dollars/NNS at/IN seasonally/RB adjusted/VBN annual/JJ rates/NNS ./.
|
|
Here/RB are/VBP the/DT Commerce/NNP Department/NNP 's/POS latest/JJS figures/NNS for/IN manufacturers/NNS in/IN billions/NNS of/IN dollars/NNS ,/, seasonally/RB adjusted/VBN ./. Judging/VBG from/IN the/DT Americana/NNS in/IN Haruki/NNP Murakami/NNP 's/POS ``/`` A/DT Wild/NNP Sheep/NNP Chase/NNP ''/'' (/( Kodansha/NNP ,/, 320/CD pages/NNS ,/, $/$ 18.95/CD )/) ,/, baby/NN boomers/NNS on/IN both/DT sides/NNS of/IN the/DT Pacific/NNP have/VBP a/DT lot/NN in/IN common/NN ./.
|
|
Although/IN set/VBN in/IN Japan/NNP ,/, the/DT novel/NN 's/POS texture/NN is/VBZ almost/RB entirely/RB Western/JJ ,/, especially/RB American/JJ ./.
|
|
Characters/NNS drink/VBP Salty/NNP Dogs/NNP ,/, whistle/VBP ``/`` Johnny/NNP B./NNP Goode/NNP ''/'' and/CC watch/VBP Bugs/NNP Bunny/NNP reruns/NNS ./.
|
|
They/PRP read/VBP Mickey/NNP Spillane/NNP and/CC talk/VBP about/IN Groucho/NNP and/CC Harpo/NNP ./.
|
|
They/PRP worry/VBP about/IN their/PRP$ careers/NNS ,/, drink/VBP too/RB much/RB and/CC suffer/VBP through/IN broken/VBN marriages/NNS and/CC desultory/JJ affairs/NNS ./.
|
|
This/DT is/VBZ Japan/NNP ?/. For/IN an/DT American/JJ reader/NN ,/, part/NN of/IN the/DT charm/NN of/IN this/DT engaging/JJ novel/NN should/MD come/VB in/IN recognizing/VBG that/IN Japan/NNP is/VBZ n't/RB the/DT buttoned-down/JJ society/NN of/IN contemporary/JJ American/JJ lore/NN ./.
|
|
It/PRP 's/VBZ also/RB refreshing/VBG to/TO read/VB a/DT Japanese/JJ author/NN who/WP clearly/RB does/VBZ n't/RB belong/VB to/TO the/DT self-aggrandizing/JJ ``/`` we-Japanese/JJ ''/'' school/NN of/IN writers/NNS who/WP perpetuate/VBP the/DT notion/NN of/IN the/DT unique/JJ Japanese/NN ,/, unfathomable/JJ by/IN outsiders/NNS ./.
|
|
If/IN ``/`` A/DT Wild/NNP Sheep/NNP Chase/NNP ''/'' carries/VBZ an/DT implicit/JJ message/NN for/IN international/JJ relations/NNS ,/, it/PRP 's/VBZ that/IN the/DT Japanese/NNS are/VBP more/RBR like/IN us/PRP than/IN most/JJS of/IN us/PRP think/VBP ./.
|
|
That/DT 's/VBZ not/RB to/TO say/VB that/IN the/DT nutty/JJ plot/NN of/IN ``/`` A/DT Wild/NNP Sheep/NNP Chase/NNP ''/'' is/VBZ rooted/VBN in/IN reality/NN ./.
|
|
It/PRP 's/VBZ imaginative/JJ and/CC often/RB funny/JJ ./.
|
|
A/DT disaffected/JJ ,/, hard-drinking/JJ ,/, nearly-30/JJ hero/NN sets/VBZ off/IN for/IN snow/NN country/NN in/IN search/NN of/IN an/DT elusive/JJ sheep/NN with/IN a/DT star/NN on/IN its/PRP$ back/NN at/IN the/DT behest/NN of/IN a/DT sinister/JJ ,/, erudite/JJ mobster/NN with/IN a/DT Stanford/NNP degree/NN ./.
|
|
He/PRP has/VBZ in/IN tow/NN his/PRP$ prescient/JJ girlfriend/NN ,/, whose/WP$ sassy/JJ retorts/NNS mark/VBP her/PRP as/IN anything/NN but/CC a/DT docile/JJ butterfly/NN ./.
|
|
Along/IN the/DT way/NN ,/, he/PRP meets/VBZ a/DT solicitous/JJ Christian/JJ chauffeur/NN who/WP offers/VBZ the/DT hero/NN God/NNP 's/POS phone/NN number/NN ;/: and/CC the/DT Sheep/NNP Man/NNP ,/, a/DT sweet/JJ ,/, roughhewn/JJ figure/NN who/WP wears/VBZ --/: what/WP else/RB --/: a/JJ sheepskin/NN ./.
|
|
The/DT 40-year-old/JJ Mr./NNP Murakami/NNP is/VBZ a/DT publishing/NN sensation/NN in/IN Japan/NNP ./.
|
|
A/DT more/RBR recent/JJ novel/NN ,/, ``/`` Norwegian/NNP Wood/NNP ''/'' (/( every/DT Japanese/NN under/IN 40/CD seems/VBZ to/TO be/VB fluent/JJ in/IN Beatles/NNP lyrics/NNS )/) ,/, has/VBZ sold/VBN more/JJR than/IN four/CD million/CD copies/NNS since/IN Kodansha/NNP published/VBD it/PRP in/IN 1987/CD ./.
|
|
But/CC he/PRP is/VBZ just/RB one/CD of/IN several/JJ youthful/JJ writers/NNS --/: Tokyo/NNP 's/POS brat/NN pack/NN --/: who/WP are/VBP dominating/VBG the/DT best-seller/NN charts/NNS in/IN Japan/NNP ./.
|
|
Their/PRP$ books/NNS are/VBP written/VBN in/IN idiomatic/JJ ,/, contemporary/JJ language/NN and/CC usually/RB carry/VBP hefty/JJ dashes/NNS of/IN Americana/NNS ./.
|
|
In/IN Robert/NNP Whiting/NNP 's/POS ``/`` You/PRP Gotta/NNP Have/NNP Wa/, ''/'' (/( Macmillan/NNP ,/, 339/CD pages/NNS ,/, $/$ 17.95/CD )/) ,/, the/DT Beatles/NNP give/VBP way/NN to/TO baseball/NN ,/, in/IN the/DT Nipponese/JJ version/NN we/PRP would/MD be/VB hard/RB put/VBN to/TO call/VB a/DT ``/`` game/NN ./.
|
|
''/'' As/IN Mr./NNP Whiting/NNP describes/VBZ it/PRP ,/, Nipponese/JJ baseball/NN is/VBZ a/DT ``/`` mirror/NN of/IN Japan/NNP 's/POS fabled/JJ virtues/NNS of/IN hard/JJ work/NN and/CC harmony/NN ./.
|
|
''/'' ``/`` Wa/NNP ''/'' is/VBZ Japanese/NNP for/IN ``/`` team/NN spirit/NN ''/'' and/CC Japanese/JJ ballplayers/NNS have/VBP miles/NNS and/CC miles/NNS of/IN it/PRP ./.
|
|
A/DT player/NN 's/POS commitment/NN to/TO practice/NN and/CC team/NN image/NN is/VBZ as/RB important/JJ as/IN his/PRP$ batting/NN average/NN ./.
|
|
Polls/NNS once/RB named/VBD Tokyo/NNP Giants/NNP star/NN Tatsunori/NNP Hara/NNP ,/, a/DT ``/`` humble/JJ ,/, uncomplaining/JJ ,/, obedient/JJ soul/NN ,/, ''/'' as/IN the/DT male/JJ symbol/NN of/IN Japan/NNP ./.
|
|
But/CC other/JJ than/IN the/DT fact/NN that/DT besuboru/FW is/VBZ played/VBN with/IN a/DT ball/NN and/CC a/DT bat/NN ,/, it/PRP 's/VBZ unrecognizable/JJ :/: Fans/NNS politely/RB return/VBP foul/JJ balls/NNS to/TO stadium/NN ushers/NNS ;/: the/DT strike/NN zone/NN expands/VBZ depending/VBG on/IN the/DT size/NN of/IN the/DT hitter/NN ;/: ties/NNS are/VBP permitted/VBN --/: even/JJ welcomed/VBN --/: since/IN they/PRP honorably/RB sidestep/VBP the/DT shame/NN of/IN defeat/NN ;/: players/NNS must/MD abide/VB by/IN strict/JJ rules/NNS of/IN conduct/NN even/RB in/IN their/PRP$ personal/JJ lives/NNS --/: players/NNS for/IN the/DT Tokyo/NNP Giants/NNP ,/, for/IN example/NN ,/, must/MD always/RB wear/VB ties/NNS when/WRB on/IN the/DT road/NN ./.
|
|
``/`` You/PRP Gotta/NNP Have/NNP Wa/NNP ''/'' is/VBZ the/DT often/RB amusing/JJ chronicle/NN of/IN how/WRB American/JJ ballplayers/NNS ,/, rationed/VBN to/TO two/CD per/IN team/NN ,/, fare/VBP in/IN Japan/NNP ./.
|
|
Despite/IN the/DT enormous/JJ sums/NNS of/IN money/NN they/PRP 're/VBP paid/VBN to/TO stand/VB up/RP at/IN a/DT Japanese/JJ plate/NN ,/, a/DT good/JJ number/NN decide/VBP it/PRP 's/VBZ not/RB worth/JJ it/PRP and/CC run/VBP for/IN home/NN ./.
|
|
``/`` Funny/NNP Business/NNP ''/'' (/( Soho/NNP ,/, 228/CD pages/NNS ,/, $/$ 17.95/CD )/) by/IN Gary/NNP Katzenstein/NNP is/VBZ anything/NN but/RB ./.
|
|
It/PRP 's/VBZ the/DT petulant/JJ complaint/NN of/IN an/DT impudent/JJ American/NN whom/WP Sony/NNP hosted/VBD for/IN a/DT year/NN while/IN he/PRP was/VBD on/IN a/DT Luce/NNP Fellowship/NNP in/IN Tokyo/NNP --/: to/IN the/DT regret/NN of/IN both/DT parties/NNS ./.
|
|
In/IN sometimes/RB amusing/JJ ,/, more/RBR often/RB supercilious/JJ ,/, even/RB vicious/JJ passages/NNS ,/, Mr./NNP Katzenstein/NNP describes/VBZ how/WRB Sony/NNP invades/VBZ even/RB the/DT most/RBS mundane/JJ aspects/NNS of/IN its/PRP$ workers/NNS '/POS lives/NNS --/: at/IN the/DT regimented/JJ office/NN ,/, where/WRB employees/NNS are/VBP assigned/VBN lunch/NN partners/NNS --/: and/JJ at/IN ``/`` home/NN ''/'' in/IN the/DT austere/JJ company/NN dormitory/NN run/VBN by/IN a/DT prying/JJ caretaker/NN ./.
|
|
Some/DT of/IN his/PRP$ observations/NNS about/IN Japanese/JJ management/NN style/NN are/VBP on/IN the/DT mark/NN ./.
|
|
It/PRP 's/VBZ probably/RB true/JJ that/IN many/JJ salarymen/NNS put/VBN in/IN unproductive/JJ overtime/NN just/RB for/IN the/DT sake/NN of/IN solidarity/NN ,/, that/IN the/DT system/NN is/VBZ so/RB hierarchical/JJ that/IN only/RB the/DT assistant/JJ manager/NN can/MD talk/VB to/TO the/DT manager/NN and/CC the/DT manager/NN to/TO the/DT general/JJ manager/NN ,/, and/CC that/IN Sony/NNP was/VBD chary/JJ of/IN letting/VBG a/DT young/JJ ,/, short-term/JJ American/JJ employee/NN take/VB on/IN any/DT responsibility/NN ./.
|
|
All/DT of/IN this/DT must/MD have/VB been/VBN enormously/RB frustrating/VBG to/TO Mr./NNP Katzenstein/NNP ,/, who/WP went/VBD to/TO Sony/NNP with/IN degrees/NNS in/IN business/NN and/CC computer/NN science/NN and/CC was/VBD raring/JJ to/TO invent/VB another/DT Walkman/NNP ./.
|
|
But/CC Sony/NNP ultimately/RB took/VBD a/DT lesson/NN from/IN the/DT American/JJ management/NN books/NNS and/CC fired/VBD Mr./NNP Katzenstein/NNP ,/, after/IN he/PRP committed/VBD the/DT social/JJ crime/NN of/IN making/VBG an/DT appointment/NN to/TO see/VB the/DT venerable/JJ Akio/NNP Morita/NNP ,/, founder/NN of/IN Sony/NNP ./.
|
|
It/PRP 's/VBZ a/DT shame/NN their/PRP$ meeting/NN never/RB took/VBD place/NN ./.
|
|
Mr./NNP Katzenstein/NNP certainly/RB would/MD have/VB learned/VBD something/NN ,/, and/CC it/PRP 's/VBZ even/RB possible/JJ Mr./NNP Morita/NNP would/MD have/VB too/RB ./.
|
|
Ms./NNP Kirkpatrick/NNP ,/, the/DT Journal/NNP 's/POS deputy/NN editorial/NN features/NNS editor/NN ,/, worked/VBD in/IN Tokyo/NNP for/IN three/CD years/NNS ./.
|
|
More/JJR and/CC more/JJR corners/NNS of/IN the/DT globe/NN are/VBP becoming/VBG free/JJ of/IN tobacco/NN smoke/NN ./.
|
|
In/IN Singapore/NNP ,/, a/DT new/JJ law/NN requires/VBZ smokers/NNS to/TO put/VB out/RP their/PRP$ cigarettes/NNS before/IN entering/VBG restaurants/NNS ,/, department/NN stores/NNS and/CC sports/NNS centers/NNS or/CC face/VB a/DT $/$ 250/CD fine/NN ./.
|
|
Discos/NNS and/CC private/JJ clubs/NNS are/VBP exempt/JJ from/IN the/DT ban/NN ,/, and/CC smoking/NN will/MD be/VB permitted/VBN in/IN bars/NNS except/IN during/IN meal/NN hours/NNS ,/, an/DT official/NN said/VBD ./.
|
|
Singapore/NNP already/RB bans/VBZ smoking/NN in/IN all/DT theaters/NNS ,/, buses/NNS ,/, public/JJ elevators/NNS ,/, hospitals/NNS and/CC fast-food/NN restaurants/NNS ./.
|
|
In/IN Malaysia/NNP ,/, Siti/NNP Zaharah/NNP Sulaiman/NNP ,/, a/DT deputy/NN minister/NN in/IN the/DT prime/JJ minister/NN 's/POS office/NN ,/, launched/VBD a/DT ``/`` No-Smoking/NNP Week/NNP ''/'' at/IN the/DT Mara/NNP Institute/NNP of/IN Technology/NNP near/IN Kuala/NNP Lumpur/NNP and/CC urged/VBD other/JJ schools/NNS to/TO ban/VB on-campus/JJ smoking/NN ./.
|
|
South/NNP Korea/NNP has/VBZ different/JJ concerns/NNS ./.
|
|
In/IN Seoul/NNP ,/, officials/NNS began/VBD visiting/VBG about/RB 26,000/CD cigarette/NN stalls/NNS to/TO remove/VB illegal/JJ posters/NNS and/CC signboards/NNS advertising/VBG imported/VBN cigarettes/NNS ./.
|
|
South/NNP Korea/NNP has/VBZ opened/VBN its/PRP$ market/NN to/TO foreign/JJ cigarettes/NNS but/CC restricts/VBZ advertising/NN to/TO designated/VBN places/NNS ./.
|
|
A/DT marketing/NN study/NN indicates/VBZ that/IN Hong/NNP Kong/NNP consumers/NNS are/VBP the/DT most/RBS materialistic/JJ in/IN the/DT 14/CD major/JJ markets/NNS where/WRB the/DT survey/NN was/VBD carried/VBN out/RP ./.
|
|
The/DT study/NN by/IN the/DT Backer/NNP Spielvogel/NNP Bates/NNP ad/NN agency/NN also/RB found/VBD that/IN the/DT colony/NN 's/POS consumers/NNS feel/VBP more/RBR pressured/JJ than/IN those/DT in/IN any/DT of/IN the/DT other/JJ surveyed/VBN markets/NNS ,/, which/WDT include/VBP the/DT U.S./NNP and/CC Japan/NNP ./.
|
|
The/DT survey/NN found/VBD that/IN nearly/RB half/NN of/IN Hong/NNP Kong/NNP consumers/NNS espouse/VBP what/WP it/PRP identified/VBD as/IN materialistic/JJ values/NNS ,/, compared/VBN with/IN about/RB one-third/JJ in/IN Japan/NNP and/CC the/DT U.S/NNP ./.
|
|
More/JJR than/IN three/CD in/IN five/CD said/VBD they/PRP are/VBP under/IN a/DT great/JJ deal/NN of/IN stress/NN most/JJS of/IN the/DT time/NN ,/, compared/VBN with/IN less/JJR than/IN one/CD in/IN two/CD U.S./NNP consumers/NNS and/CC one/CD in/IN four/CD in/IN Japan/NNP ./.
|
|
The/DT Thai/NNP cabinet/NN endorsed/VBD Finance/NNP Minister/NNP Pramual/NNP Sabhavasu/NNP 's/POS proposal/NN to/TO build/VB a/DT $/$ 19/CD million/CD conference/NN center/NN for/IN a/DT joint/JJ meeting/NN of/IN the/DT World/NNP Bank/NNP and/CC International/NNP Monetary/NNP Fund/NNP two/CD years/NNS from/IN now/RB ./.
|
|
The/DT meeting/NN ,/, which/WDT is/VBZ expected/VBN to/TO draw/VB 20,000/CD to/TO Bangkok/NNP ,/, was/VBD going/VBG to/TO be/VB held/VBN at/IN the/DT Central/NNP Plaza/NNP Hotel/NNP ,/, but/CC the/DT government/NN balked/VBD at/IN the/DT hotel/NN 's/POS conditions/NNS for/IN undertaking/VBG necessary/JJ expansion/NN ./.
|
|
A/DT major/JJ concern/NN about/IN the/DT current/JJ plan/NN is/VBZ whether/IN the/DT new/JJ center/NN can/MD be/VB built/VBN in/IN such/JJ a/DT short/JJ time/NN ./.
|
|
Yasser/NNP Arafat/NNP has/VBZ written/VBN to/TO the/DT chairman/NN of/IN the/DT International/NNP Olympic/NNP Committee/NNP asking/VBG him/PRP to/TO back/VB a/DT Palestinian/JJ bid/NN to/TO join/VB the/DT committee/NN ,/, the/DT Palestine/NNP Liberation/NNP Organization/NNP news/NN agency/NN WAFA/NNP said/VBD ./.
|
|
An/DT official/NN of/IN the/DT Palestinian/NNP Olympic/NNP Committee/NNP said/VBD the/DT committee/NN first/RB applied/VBD for/IN membership/NN in/IN 1979/CD and/CC renewed/VBD its/PRP$ application/NN in/IN August/NNP of/IN this/DT year/NN ./.
|
|
The/DT PLO/NNP in/IN recent/JJ months/NNS has/VBZ been/VBN trying/VBG to/TO join/VB international/JJ organizations/NNS but/CC failed/VBD earlier/RBR this/DT year/NN to/TO win/VB membership/NN in/IN the/DT World/NNP Health/NNP Organization/NNP and/CC the/DT World/NNP Tourism/NNP Organization/NNP ./.
|
|
A/DT Beijing/NNP food-shop/JJ assistant/NN has/VBZ become/VBN the/DT first/JJ mainland/NN Chinese/NN to/TO get/VB AIDS/NNP through/IN sex/NN ,/, the/DT People/NNP 's/POS Daily/NNP said/VBD ./.
|
|
It/PRP said/VBD the/DT man/NN ,/, whom/WP it/PRP did/VBD not/RB name/VB ,/, had/VBD been/VBN found/VBN to/TO have/VB the/DT disease/NN after/IN hospital/NN tests/NNS ./.
|
|
Once/RB the/DT disease/NN was/VBD confirmed/VBN ,/, all/DT the/DT man/NN 's/POS associates/NNS and/CC family/NN were/VBD tested/VBN ,/, but/CC none/NN have/VBP so/RB far/RB been/VBN found/VBN to/TO have/VB AIDS/NNP ,/, the/DT newspaper/NN said/VBD ./.
|
|
The/DT man/NN had/VBD for/IN a/DT long/JJ time/NN had/VBN ``/`` a/DT chaotic/JJ sex/NN life/NN ,/, ''/'' including/VBG relations/NNS with/IN foreign/JJ men/NNS ,/, the/DT newspaper/NN said/VBD ./.
|
|
The/DT Polish/JJ government/NN increased/VBD home/NN electricity/NN charges/NNS by/IN 150/CD %/NN and/CC doubled/VBD gas/NN prices/NNS ./.
|
|
The/DT official/JJ news/NN agency/NN PAP/NNP said/VBD the/DT increases/NNS were/VBD intended/VBN to/TO bring/VB unrealistically/RB low/JJ energy/NN charges/NNS into/IN line/NN with/IN production/NN costs/NNS and/CC compensate/VB for/IN a/DT rise/NN in/IN coal/NN prices/NNS ./.
|
|
In/IN happier/JJR news/NN ,/, South/NNP Korea/NNP ,/, in/IN establishing/VBG diplomatic/JJ ties/NNS with/IN Poland/NNP yesterday/NN ,/, announced/VBD $/$ 450/CD million/CD in/IN loans/NNS to/TO the/DT financially/RB strapped/VBN Warsaw/NNP government/NN ./.
|
|
In/IN a/DT victory/NN for/IN environmentalists/NNS ,/, Hungary/NNP 's/POS parliament/NN terminated/VBD a/DT multibillion-dollar/JJ River/NNP Danube/NNP dam/NN being/VBG built/VBN by/IN Austrian/JJ firms/NNS ./.
|
|
The/DT Nagymaros/NNP dam/NN was/VBD designed/VBN to/TO be/VB twinned/VBN with/IN another/DT dam/NN ,/, now/RB nearly/RB complete/JJ ,/, 100/CD miles/NNS upstream/RB in/IN Czechoslovakia/NNP ./.
|
|
In/IN ending/VBG Hungary/NNP 's/POS part/NN of/IN the/DT project/NN ,/, Parliament/NNP authorized/VBD Prime/NNP Minister/NNP Miklos/NNP Nemeth/NNP to/TO modify/VB a/DT 1977/CD agreement/NN with/IN Czechoslovakia/NNP ,/, which/WDT still/RB wants/VBZ the/DT dam/NN to/TO be/VB built/VBN ./.
|
|
Mr./NNP Nemeth/NNP said/VBD in/IN parliament/NN that/IN Czechoslovakia/NNP and/CC Hungary/NNP would/MD suffer/VB environmental/JJ damage/NN if/IN the/DT twin/NN dams/NNS were/VBD built/VBN as/IN planned/VBN ./.
|
|
Czechoslovakia/NNP said/VBD in/IN May/NNP it/PRP could/MD seek/VB $/$ 2/CD billion/CD from/IN Hungary/NNP if/IN the/DT twindam/NN contract/NN were/VBD broken/VBN ./.
|
|
The/DT Czech/JJ dam/NN ca/MD n't/RB be/VB operated/VBN solely/RB at/IN peak/NN periods/NNS without/IN the/DT Nagymaros/NNP project/NN ./.
|
|
A/DT painting/NN by/IN August/NNP Strindberg/NNP set/VBD a/DT Scandinavian/JJ price/NN record/NN when/WRB it/PRP sold/VBD at/IN auction/NN in/IN Stockholm/NNP for/IN $/$ 2.44/CD million/CD ./.
|
|
``/`` Lighthouse/NNP II/NNP ''/'' was/VBD painted/VBN in/IN oils/NNS by/IN the/DT playwright/NN in/IN 1901/CD .../: After/IN years/NNS of/IN decline/NN ,/, weddings/NNS in/IN France/NNP showed/VBD a/DT 2.2/CD %/NN upturn/NN last/JJ year/NN ,/, with/IN 6,000/CD more/JJR couples/NNS exchanging/VBG rings/NNS in/IN 1988/CD than/IN in/IN the/DT previous/JJ year/NN ,/, the/DT national/JJ statistics/NNS office/NN said/VBD ./.
|
|
But/CC the/DT number/NN of/IN weddings/NNS last/JJ year/NN --/: 271,124/CD --/: was/VBD still/RB well/RB below/IN the/DT 400,000/CD registered/VBN in/IN 1972/CD ,/, the/DT last/JJ year/NN of/IN increasing/VBG marriages/NNS ./. BRAMALEA/NNP Ltd./NNP said/VBD it/PRP agreed/VBD to/TO issue/VB 100/CD million/CD Canadian/JJ dollars/NNS (/( US$/$ 85.1/CD million/CD )/) of/IN 10.5/CD %/NN senior/JJ debentures/NNS due/JJ Nov./NNP 30/CD ,/, 1999/CD ,/, together/RB with/IN 100,000/CD bond/NN purchase/NN warrants/NNS ./.
|
|
The/DT Toronto-based/JJ real/JJ estate/NN concern/NN said/VBD each/DT bond/NN warrant/NN entitles/VBZ the/DT holder/NN to/TO buy/VB C$/$ 1,000/CD principal/NN amount/NN of/IN debentures/NNS at/IN par/NN plus/CC accrued/VBN interest/NN to/TO the/DT date/NN of/IN purchase/NN ./.
|
|
The/DT warrants/NNS expire/VBP Nov./NNP 30/CD ,/, 1990/CD ./.
|
|
The/DT issue/NN will/MD be/VB swapped/VBN into/IN fixed-rate/JJ U.S./NNP dollars/NNS at/IN a/DT rate/NN the/DT company/NN said/VBD is/VBZ less/JJR than/IN 9/CD %/NN ;/: a/DT spokesman/NN declined/VBD to/TO elaborate/VB ./.
|
|
Lead/JJ underwriters/NNS for/IN the/DT issue/NN are/VBP Scotia/NNP McLeod/NNP Inc./NNP and/CC RBC/NNP Dominion/NNP Securities/NNP Inc./NNP ,/, both/DT Toronto-based/JJ investment/NN dealers/NNS ./.
|
|
Bramalea/NNP said/VBD it/PRP expects/VBZ to/TO complete/VB the/DT issue/NN by/IN the/DT end/NN of/IN the/DT month/NN ./. As/IN an/DT actor/NN ,/, Charles/NNP Lane/NNP is/VBZ n't/RB the/DT inheritor/NN of/IN Charlie/NNP Chaplin/NNP 's/POS spirit/NN ./.
|
|
Steve/NNP Martin/NNP has/VBZ already/RB laid/VBN his/PRP$ claim/NN to/TO that/DT ./.
|
|
But/CC it/PRP is/VBZ Mr./NNP Lane/NNP ,/, as/IN movie/NN director/NN ,/, producer/NN and/CC writer/NN ,/, who/WP has/VBZ been/VBN obsessed/VBN with/IN refitting/VBG Chaplin/NNP 's/POS Little/NNP Tramp/NNP in/IN a/DT contemporary/JJ way/NN ./.
|
|
In/IN 1976/CD ,/, as/IN a/DT film/NN student/NN at/IN the/DT Purchase/NNP campus/NN of/IN the/DT State/NNP University/NNP of/IN New/NNP York/NNP ,/, Mr./NNP Lane/NNP shot/VBD ``/`` A/DT Place/NNP in/IN Time/NNP ,/, ''/'' a/DT 36-minute/JJ black-and-white/JJ film/NN about/IN a/DT sketch/NN artist/NN ,/, a/DT man/NN of/IN the/DT streets/NNS ./.
|
|
Now/RB ,/, 13/CD years/NNS later/RBR ,/, Mr./NNP Lane/NNP has/VBZ revived/VBN his/PRP$ Artist/NNP in/IN a/DT full-length/JJ movie/NN called/VBN ``/`` Sidewalk/NNP Stories/NNP ,/, ''/'' a/DT poignant/JJ piece/NN of/IN work/NN about/IN a/DT modern-day/JJ tramp/NN ./.
|
|
Of/IN course/NN ,/, if/IN the/DT film/NN contained/VBD dialogue/NN ,/, Mr./NNP Lane/NNP 's/POS Artist/NNP would/MD be/VB called/VBN a/DT homeless/JJ person/NN ./.
|
|
So/RB would/MD the/DT Little/NNP Tramp/NNP ,/, for/IN that/DT matter/NN ./.
|
|
I/PRP say/VBP ``/`` contained/VBD dialogue/NN ''/'' because/IN ``/`` Sidewalk/NNP Stories/NNP ''/'' is/VBZ n't/RB really/RB silent/JJ at/IN all/DT ./.
|
|
Composer/NN Marc/NNP Marder/NNP ,/, a/DT college/NN friend/NN of/IN Mr./NNP Lane/NNP 's/POS who/WP earns/VBZ his/PRP$ living/NN playing/VBG the/DT double/JJ bass/NN in/IN classical/JJ music/NN ensembles/NNS ,/, has/VBZ prepared/VBN an/DT exciting/JJ ,/, eclectic/JJ score/NN that/WDT tells/VBZ you/PRP what/WP the/DT characters/NNS are/VBP thinking/VBG and/CC feeling/VBG far/RB more/RBR precisely/RB than/IN intertitles/NNS ,/, or/CC even/RB words/NNS ,/, would/MD ./.
|
|
Much/RB of/IN Mr./NNP Lane/NNP 's/POS film/NN takes/VBZ a/DT highly/RB romanticized/VBN view/NN of/IN life/NN on/IN the/DT streets/NNS (/( though/IN probably/RB no/DT more/RBR romanticized/VBN than/IN Mr./NNP Chaplin/NNP 's/POS notion/NN of/IN the/DT Tramp/NNP as/IN the/DT good-hearted/JJ free/JJ spirit/NN )/) ./.
|
|
Filmed/VBN in/IN lovely/JJ black/NN and/CC white/NN by/IN Bill/NNP Dill/NNP ,/, the/DT New/NNP York/NNP streets/NNS of/IN ``/`` Sidewalk/NNP Stories/NNP ''/'' seem/VBP benign/JJ ./.
|
|
On/IN Wall/NNP Street/NNP men/NNS and/CC women/NNS walk/VBP with/IN great/JJ purpose/NN ,/, noticing/VBG one/CD another/DT only/RB when/WRB they/PRP jostle/VBP for/IN cabs/NNS ./.
|
|
The/DT Artist/NNP hangs/VBZ out/RP in/IN Greenwich/NNP Village/NNP ,/, on/IN a/DT strip/NN of/IN Sixth/NNP Avenue/NNP populated/VBN by/IN jugglers/NNS ,/, magicians/NNS and/CC other/JJ good-natured/JJ hustlers/NNS ./.
|
|
(/( This/DT clearly/RB is/VBZ not/RB real/JJ life/NN :/: no/DT crack/NN dealers/NNS ,/, no/DT dead-eyed/JJ men/NNS selling/VBG four-year-old/JJ copies/NNS of/IN Cosmopolitan/NNP ,/, no/DT one/PRP curled/VBD up/RP in/IN a/DT cardboard/NN box/NN ./.
|
|
)/) The/DT Artist/NNP has/VBZ his/PRP$ routine/NN ./.
|
|
He/PRP spends/VBZ his/PRP$ days/NNS sketching/VBG passers-by/NNS ,/, or/CC trying/VBG to/TO ./.
|
|
At/IN night/NN he/PRP returns/VBZ to/TO the/DT condemned/VBN building/NN he/PRP calls/VBZ home/NN ./.
|
|
His/PRP$ life/NN ,/, including/VBG his/PRP$ skirmishes/NNS with/IN a/DT competing/VBG sketch/NN artist/NN ,/, seems/VBZ carefree/JJ ./.
|
|
He/PRP is/VBZ his/PRP$ own/JJ man/NN ./.
|
|
Then/RB ,/, just/RB as/IN the/DT Tramp/NNP is/VBZ given/VBN a/DT blind/JJ girl/NN to/TO cure/VB in/IN ``/`` City/NNP Lights/NNP ,/, ''/'' the/DT Artist/NNP is/VBZ put/VBN in/IN charge/NN of/IN returning/VBG a/DT two-year-old/JJ waif/NN (/( Nicole/NNP Alysia/NNP )/) ,/, whose/WP$ father/NN has/VBZ been/VBN murdered/VBN by/IN thugs/NNS ,/, to/TO her/PRP$ mother/NN ./.
|
|
This/DT cute/JJ child/NN turns/VBZ out/RP to/TO be/VB a/DT blessing/NN and/CC a/DT curse/NN ./.
|
|
She/PRP gives/VBZ the/DT Artist/NNP a/DT sense/NN of/IN purpose/NN ,/, but/CC also/RB alerts/VBZ him/PRP to/TO the/DT serious/JJ inadequacy/NN of/IN his/PRP$ vagrant/JJ life/NN ./.
|
|
The/DT beds/NNS at/IN the/DT Bowery/NNP Mission/NNP seem/VBP far/JJ drearier/RBR when/WRB he/PRP has/VBZ to/TO tuck/VB a/DT little/JJ girl/NN into/IN one/CD of/IN them/PRP at/IN night/NN ./.
|
|
To/TO further/RBR load/VB the/DT stakes/NNS ,/, Mr./NNP Lane/NNP dreamed/VBD up/RP a/DT highly/RB improbable/JJ romance/NN for/IN the/DT Artist/NNP ,/, with/IN a/DT young/JJ woman/NN who/WP owns/VBZ her/PRP$ own/JJ children/NNS 's/POS shop/NN and/CC who/WP lives/VBZ in/IN an/DT expensive/JJ high-rise/JJ apartment/NN building/NN ./.
|
|
This/DT story/NN line/NN might/MD resonate/VB more/RBR strongly/RB if/IN Mr./NNP Lane/NNP had/VBD as/RB strong/JJ a/DT presence/NN in/IN front/NN of/IN the/DT camera/NN as/IN he/PRP does/VBZ behind/IN it/PRP ./.
|
|
Mr./NNP Lane/NNP 's/POS final/JJ purpose/NN is/VBZ n't/RB to/TO glamorize/VB the/DT Artist/NNP 's/POS vagabond/NN existence/NN ./.
|
|
He/PRP has/VBZ a/DT point/NN he/PRP wants/VBZ to/TO make/VB ,/, and/CC he/PRP makes/VBZ it/PRP ,/, with/IN a/DT great/JJ deal/NN of/IN force/NN ./.
|
|
The/DT movie/NN ends/VBZ with/IN sound/NN ,/, the/DT sound/NN of/IN street/NN people/NNS talking/VBG ,/, and/CC there/EX is/VBZ n't/RB anything/NN whimsical/JJ or/CC enviable/JJ in/IN those/DT rough/JJ ,/, beaten/JJ voices/NNS ./.
|
|
The/DT French/JJ film/NN maker/NN Claude/NNP Chabrol/NNP has/VBZ managed/VBN another/DT kind/NN of/IN weird/JJ achievement/NN with/IN his/PRP$ ``/`` Story/NNP of/IN Women/NNP ./.
|
|
''/'' He/PRP has/VBZ made/VBN a/DT harsh/JJ ,/, brilliant/JJ picture/NN --/: one/CD that/WDT 's/VBZ captivating/JJ --/: about/IN a/DT character/NN who/WP ,/, viewed/VBN from/IN the/DT most/RBS sympathetic/JJ angle/NN ,/, would/MD seem/VB disagreeable/JJ ./.
|
|
Yet/RB this/DT woman/NN ,/, Marie-Louise/NNP Giraud/NNP ,/, carries/VBZ historical/JJ significance/NN ,/, both/DT as/IN one/CD of/IN the/DT last/JJ women/NNS to/TO be/VB executed/VBN in/IN France/NNP and/CC as/IN a/DT symbol/NN of/IN the/DT Vichy/NNP government/NN 's/POS hypocrisy/NN ./.
|
|
While/IN Vichy/NNP collaborated/VBD with/IN the/DT Germans/NNS during/IN World/NNP War/NNP II/NNP in/IN the/DT deaths/NNS of/IN thousands/NNS of/IN Resistance/NNP fighters/NNS and/CC Jews/NNS ,/, its/PRP$ officials/NNS needed/VBD a/DT diversionary/JJ symbolic/JJ traitor/NN ./.
|
|
Marie-Louise/NNP ,/, a/DT small-time/JJ abortionist/NN ,/, was/VBD their/PRP$ woman/NN ./.
|
|
She/PRP became/VBD an/DT abortionist/NN accidentally/RB ,/, and/CC continued/VBD because/IN it/PRP enabled/VBD her/PRP to/TO buy/VB jam/NN ,/, cocoa/NN and/CC other/JJ war-rationed/JJ goodies/NNS ./.
|
|
She/PRP was/VBD untrained/JJ and/CC ,/, in/IN one/CD botched/JJ job/NN killed/VBD a/DT client/NN ./.
|
|
Her/PRP$ remorse/NN was/VBD shallow/JJ and/CC brief/JJ ./.
|
|
Although/IN she/PRP was/VBD kind/JJ and/CC playful/JJ to/TO her/PRP$ children/NNS ,/, she/PRP was/VBD dreadful/JJ to/TO her/PRP$ war-damaged/JJ husband/NN ;/: she/PRP openly/RB brought/VBD her/PRP$ lover/NN into/IN their/PRP$ home/NN ./.
|
|
As/IN presented/VBN by/IN Mr./NNP Chabrol/NNP ,/, and/CC played/VBN with/IN thin-lipped/JJ intensity/NN by/IN Isabelle/NNP Huppert/NNP ,/, Marie-Louise/NNP (/( called/VBN Marie/NNP Latour/NNP in/IN the/DT film/NN )/) was/VBD not/RB a/DT nice/JJ person/NN ./.
|
|
But/CC she/PRP did/VBD n't/RB deserve/VB to/TO have/VB her/PRP$ head/NN chopped/VBN off/RP ./.
|
|
There/EX is/VBZ very/RB little/JJ to/TO recommend/VB ``/`` Old/NNP Gringo/NNP ,/, ''/'' a/DT confused/JJ rendering/NN of/IN the/DT Carlos/NNP Fuentes/NNP novel/NN of/IN the/DT Mexican/NNP Revolution/NNP ./.
|
|
Most/JJS of/IN the/DT picture/NN is/VBZ taken/VBN up/RP with/IN endless/JJ scenes/NNS of/IN many/JJ people/NNS either/CC fighting/VBG or/CC eating/VBG and/CC drinking/VBG to/TO celebrate/VB victory/NN ./.
|
|
I/PRP mention/VBP the/DT picture/NN only/RB because/IN many/JJ bad/JJ movies/NNS have/VBP a/DT bright/JJ spot/NN ,/, and/CC this/DT one/CD has/VBZ Gregory/NNP Peck/NNP ,/, in/IN a/DT marvelously/RB loose/JJ and/CC energetic/JJ portrayal/NN of/IN an/DT old/JJ man/NN who/WP wants/VBZ to/TO die/VB the/DT way/NN he/PRP wants/VBZ to/TO die/VB ./.
|
|
Video/NNP Tip/NNP :/: Before/IN seeing/VBG ``/`` Sidewalk/NNP Stories/NNP ,/, ''/'' take/VB a/DT look/NN at/IN ``/`` City/NNP Lights/NNP ,/, ''/'' Chaplin/NNP 's/POS Tramp/NNP at/IN his/PRP$ finest/JJS ./. Boeing/NNP Co./NNP said/VBD it/PRP is/VBZ discussing/VBG plans/NNS with/IN three/CD of/IN its/PRP$ regular/JJ Japanese/JJ suppliers/NNS to/TO possibly/RB help/VB build/VB a/DT larger/JJR version/NN of/IN its/PRP$ popular/JJ 767/CD twin-jet/NN ./.
|
|
The/DT discussions/NNS are/VBP still/RB in/IN preliminary/JJ stages/NNS ,/, and/CC the/DT specific/JJ details/NNS have/VBP n't/RB been/VBN worked/VBN out/RP between/IN the/DT Seattle/NNP aerospace/NN company/NN and/CC Kawasaki/NNP Heavy/NNP Industries/NNP Ltd./NNP ,/, Mitsubishi/NNP Heavy/NNP Industries/NNP Ltd./NNP and/CC Fuji/NNP Heavy/NNP Industries/NNP Ltd/NNP ./.
|
|
The/DT three/CD Japanese/JJ companies/NNS build/VBP the/DT body/NN sections/NNS of/IN the/DT 767/CD ,/, accounting/VBG for/IN a/DT combined/JJ 15/CD %/NN of/IN the/DT aircraft/NN ./.
|
|
Japanese/JJ press/NN reports/NNS have/VBP speculated/VBN that/IN the/DT Japanese/JJ contribution/NN could/MD rise/VB to/TO between/IN 20/CD %/NN and/CC 25/CD %/NN under/IN the/DT new/JJ program/NN ./.
|
|
If/IN Boeing/NNP goes/VBZ ahead/RB with/IN the/DT larger/JJR 767/CD ,/, the/DT plane/NN could/MD hit/VB the/DT market/NN in/IN the/DT mid-1990s/NNS ./. This/DT is/VBZ the/DT year/NN the/DT negative/JJ ad/NN ,/, for/IN years/NNS a/DT secondary/JJ presence/NN in/IN most/JJS political/JJ campaigns/NNS ,/, became/VBD the/DT main/JJ event/NN ./.
|
|
The/DT irony/NN is/VBZ that/IN the/DT attack/NN commercial/NN ,/, after/IN getting/VBG a/DT boost/NN in/IN last/JJ year/NN 's/POS presidential/JJ campaign/NN ,/, has/VBZ come/VBN of/IN age/NN in/IN an/DT off-off/JJ election/NN year/NN with/IN only/RB a/DT few/JJ contests/NNS scattered/VBN across/IN the/DT country/NN ./.
|
|
But/IN in/IN the/DT three/CD leading/VBG political/JJ contests/NNS of/IN 1989/CD ,/, the/DT negative/JJ ads/NNS have/VBP reached/VBN new/JJ levels/NNS of/IN hostility/NN ,/, raising/VBG fears/NNS that/IN this/DT kind/NN of/IN mudslinging/NN ,/, empty/JJ of/IN significant/JJ issues/NNS ,/, is/VBZ ushering/VBG in/IN a/DT new/JJ era/NN of/IN campaigns/NNS without/IN content/NN ./.
|
|
``/`` Now/RB ,/, ''/'' says/VBZ Joseph/NNP Napolitan/NNP ,/, a/DT pioneer/NN in/IN political/JJ television/NN ,/, ``/`` the/DT idea/NN is/VBZ to/TO attack/VB first/RB ,/, last/RB and/CC always/RB ./.
|
|
''/'' A/DT trend/NN that/WDT started/VBD with/IN the/DT first/JJ stirrings/NNS of/IN politics/NNS ,/, accelerated/VBD with/IN the/DT dawn/NN of/IN the/DT television/NN age/NN and/CC became/VBD a/DT sometimes-tawdry/JJ art/NN form/NN in/IN 1988/CD ,/, has/VBZ reached/VBN an/DT entirely/RB new/JJ stage/NN ./.
|
|
``/`` To/TO get/VB people/NNS 's/POS attention/NN these/DT days/NNS ,/, ''/'' says/VBZ Douglas/NNP Bailey/NNP ,/, a/DT political/JJ consultant/NN ,/, ``/`` your/PRP$ TV/NN ad/NN needs/VBZ to/TO be/VB bold/JJ and/CC entertaining/JJ ,/, and/CC ,/, more/RBR often/RB than/IN not/RB ,/, that/WDT means/VBZ confrontational/JJ ./.
|
|
And/CC ,/, unlike/IN a/DT few/JJ years/NNS ago/RB ,/, you/PRP do/VBP n't/RB even/RB have/VB to/TO worry/VB whether/IN the/DT ad/NN is/VBZ truthful/JJ ./.
|
|
''/'' In/IN 1989/CD ,/, as/RB often/RB as/IN not/RB ,/, the/DT principal/JJ fights/NNS in/IN the/DT major/JJ campaigns/NNS are/VBP prompted/VBN by/IN the/DT ads/NNS themselves/PRP ./.
|
|
Take/VB a/DT look/NN ,/, then/RB ,/, at/IN the/DT main/JJ attack/NN commercials/NNS that/WDT set/VBD the/DT tone/NN for/IN Tuesday/NNP 's/POS elections/NNS in/IN New/NNP York/NNP City/NNP ,/, New/NNP Jersey/NNP and/CC Virginia/NNP :/: New/NNP York/NNP City/NNP :/: The/DT screen/NN fills/VBZ with/IN a/DT small/JJ ,/, tight/JJ facial/JJ shot/NN of/IN David/NNP Dinkins/NNP ,/, Democratic/JJ candidate/NN for/IN mayor/NN of/IN New/NNP York/NNP City/NNP ./.
|
|
``/`` David/NNP Dinkins/NNP failed/VBD to/TO file/VB his/PRP$ income/NN taxes/NNS for/IN four/CD straight/JJ years/NNS ,/, ''/'' says/VBZ a/DT disembodied/JJ male/NN voice/NN ./.
|
|
And/CC then/RB this/DT television/NN commercial/NN ,/, paid/VBN for/RB by/IN Republican/NNP Rudolph/NNP Giuliani/NNP 's/POS campaign/NN and/CC produced/VBN by/IN Roger/NNP Ailes/NNP ,/, the/DT master/NN of/IN negative/JJ TV/NN ads/NNS ,/, really/RB gets/VBZ down/RB to/TO business/NN ./.
|
|
Mr./NNP Dinkins/NNP ,/, the/DT ad/NN charges/VBZ ,/, also/RB failed/VBD to/TO report/VB his/PRP$ campaign/NN contributions/NNS accurately/RB ,/, hid/VBD his/PRP$ links/NNS to/TO a/DT failing/VBG insurance/NN company/NN and/CC paid/VBD a/DT convicted/VBN kidnapper/NN ``/`` through/IN a/DT phony/JJ organization/NN with/IN no/DT members/NNS ,/, no/DT receipts/NNS and/CC no/DT office/NN ./.
|
|
''/'' ``/`` David/NNP Dinkins/NNP ,/, ''/'' says/VBZ the/DT kicker/NN ,/, ``/`` Why/WRB does/VBZ he/PRP always/RB wait/VB until/IN he/PRP 's/VBZ caught/VBN ?/. ''/'' ``/`` Nasty/JJ innuendoes/NNS ,/, ''/'' says/VBZ John/NNP Siegal/NNP ,/, Mr./NNP Dinkins/NNP 's/POS issues/NNS director/NN ,/, ``/`` designed/VBN to/TO prosecute/VB a/DT case/NN of/IN political/JJ corruption/NN that/WDT simply/RB does/VBZ n't/RB exist/VB ./.
|
|
''/'' Stung/VBN by/IN the/DT Giuliani/NNP ads/NNS ,/, Mr./NNP Dinkins/NNP 's/POS TV/NN consultants/NNS ,/, Robert/NNP Shrum/NNP and/CC David/NNP Doak/NNP ,/, finally/RB unleashed/VBD a/DT negative/JJ ad/NN of/IN their/PRP$ own/JJ ./.
|
|
The/DT screen/NN shows/VBZ two/CD distorted/JJ ,/, unrecognizable/JJ photos/NNS ,/, presumably/RB of/IN two/CD politicians/NNS ./.
|
|
``/`` Compare/VB two/CD candidates/NNS for/IN mayor/NN ,/, ''/'' says/VBZ the/DT announcer/NN ./.
|
|
``/`` One/NN says/VBZ he/PRP 's/VBZ for/IN banning/VBG cop-killer/JJ bullets/NNS ./.
|
|
The/DT other/JJ has/VBZ opposed/VBN a/DT ban/NN on/IN cop-killer/JJ bullets/NNS ./.
|
|
One/NN claims/VBZ he/PRP 's/VBZ pro-choice/JJ ./.
|
|
The/DT other/JJ has/VBZ opposed/VBN a/DT woman/NN 's/POS right/NN to/TO choose/VB ./.
|
|
''/'' ``/`` Funny/JJ thing/NN ,/, ''/'' says/VBZ the/DT kicker/NN ,/, ``/`` both/DT these/DT candidates/NNS are/VBP named/VBN Rudolph/NNP Giuliani/NNP ./.
|
|
''/'' Who/WP 's/VBZ telling/VBG the/DT truth/NN ?/. Everybody/NN --/: and/IN nobody/NN ./.
|
|
It/PRP 's/VBZ a/DT classic/JJ situation/NN of/IN ads/NNS that/WDT are/VBP true/JJ but/CC not/RB always/RB fully/RB accurate/JJ ./.
|
|
Mr./NNP Dinkins/NNP did/VBD fail/VB to/TO file/VB his/PRP$ income/NN taxes/NNS for/IN four/CD years/NNS ,/, but/CC he/PRP insists/VBZ he/PRP voluntarily/RB admitted/VBD the/DT ``/`` oversight/NN ''/'' when/WRB he/PRP was/VBD being/VBG considered/VBN for/IN a/DT city/NN job/NN ./.
|
|
He/PRP was/VBD on/IN the/DT board/NN of/IN an/DT insurance/NN company/NN with/IN financial/JJ problems/NNS ,/, but/CC he/PRP insists/VBZ he/PRP made/VBD no/DT secret/NN of/IN it/PRP ./.
|
|
The/DT city/NN 's/POS Campaign/NNP Finance/NNP Board/NNP has/VBZ refused/VBN to/TO pay/VB Mr./NNP Dinkins/NNP $/$ 95,142/CD in/IN matching/JJ funds/NNS because/IN his/PRP$ campaign/NN records/NNS are/VBP incomplete/JJ ./.
|
|
The/DT campaign/NN has/VBZ blamed/VBN these/DT reporting/NN problems/NNS on/IN computer/NN errors/NNS ./.
|
|
And/CC ,/, says/VBZ Mr./NNP Dinkins/NNP ,/, he/PRP did/VBD n't/RB know/VB the/DT man/NN his/PRP$ campaign/NN paid/VBD for/IN a/DT get-out-the-vote/JJ effort/NN had/VBD been/VBN convicted/VBN of/IN kidnapping/NN ./.
|
|
But/CC ,/, say/VBP Mr./NNP Dinkins/NNP 's/POS managers/NNS ,/, he/PRP did/VBD have/VB an/DT office/NN and/CC his/PRP$ organization/NN did/VBD have/VB members/NNS ./.
|
|
Mr./NNP Giuliani/NNP 's/POS campaign/NN chairman/NN ,/, Peter/NNP Powers/NNP ,/, says/VBZ the/DT Dinkins/NNP ad/NN is/VBZ ``/`` deceptive/JJ ./.
|
|
''/'' The/DT other/JJ side/NN ,/, he/PRP argues/VBZ ,/, ``/`` knows/VBZ Giuliani/NNP has/VBZ always/RB been/VBN pro-choice/JJ ,/, even/RB though/IN he/PRP has/VBZ personal/JJ reservations/NNS ./.
|
|
They/PRP know/VBP he/PRP is/VBZ generally/RB opposed/VBN to/TO cop-killer/JJ bullets/NNS ,/, but/CC that/IN he/PRP had/VBD some/DT reservations/NNS about/IN the/DT language/NN in/IN the/DT legislation/NN ./.
|
|
''/'' Virginia/NNP :/: Democratic/JJ Lt./NNP Gov./NNP Douglas/NNP Wilder/NNP opened/VBD his/PRP$ gubernatorial/JJ battle/NN with/IN Republican/JJ Marshall/NNP Coleman/NNP with/IN an/DT abortion/NN commercial/NN produced/VBN by/IN Frank/NNP Greer/NNP that/IN analysts/NNS of/IN every/DT political/JJ persuasion/NN agree/VBP was/VBD a/DT tour/NN de/FW force/NN ./.
|
|
Against/IN a/DT shot/NN of/IN Monticello/NNP superimposed/VBN on/IN an/DT American/JJ flag/NN ,/, an/DT announcer/NN talks/VBZ about/IN the/DT ``/`` strong/JJ tradition/NN of/IN freedom/NN and/CC individual/JJ liberty/NN ''/'' that/IN Virginians/NNPS have/VBP nurtured/VBN for/IN generations/NNS ./.
|
|
Then/RB ,/, just/RB as/IN an/DT image/NN of/IN the/DT statue/NN of/IN Thomas/NNP Jefferson/NNP dissolves/VBZ from/IN the/DT screen/NN ,/, the/DT announcer/NN continues/VBZ :/: ``/`` On/IN the/DT issue/NN of/IN abortion/NN ,/, Marshall/NNP Coleman/NNP wants/VBZ to/TO take/VB away/RB your/PRP$ right/NN to/TO choose/VB and/CC give/VB it/PRP to/TO the/DT politicians/NNS ./.
|
|
''/'' That/DT commercial/JJ --/: which/WDT said/VBD Mr./NNP Coleman/NNP wanted/VBD to/TO take/VB away/RB the/DT right/NN of/IN abortion/NN ``/`` even/RB in/IN cases/NNS of/IN rape/NN and/CC incest/NN ,/, ''/'' a/DT charge/NN Mr./NNP Coleman/NNP denies/VBZ --/: changed/VBD the/DT dynamics/NNS of/IN the/DT campaign/NN ,/, transforming/VBG it/PRP ,/, at/IN least/JJS in/IN part/NN ,/, into/IN a/DT referendum/NN on/IN abortion/NN ./.
|
|
The/DT ad/NN prompted/VBD Mr./NNP Coleman/NNP ,/, the/DT former/JJ Virginia/NNP attorney/NN general/NN ,/, to/TO launch/VB a/DT series/NN of/IN advertisements/NNS created/VBN by/IN Bob/NNP Goodman/NNP and/CC designed/VBN to/TO shake/VB Mr./NNP Wilder/NNP 's/POS support/NN among/IN the/DT very/JJ women/NNS who/WP were/VBD attracted/VBN by/IN the/DT abortion/NN ad/NN ./.
|
|
The/DT Coleman/NNP counterattack/NN featured/VBD a/DT close-up/NN of/IN a/DT young/JJ woman/NN in/IN shadows/NNS and/CC the/DT ad/NN suggested/VBD that/IN she/PRP was/VBD recalling/VBG an/DT unpleasant/JJ courtroom/NN ordeal/NN ./.
|
|
A/DT voice/NN says/VBZ ,/, ``/`` C'mon/VB ,/, now/RB ,/, do/VBP n't/RB you/PRP have/VB boyfriends/NNS ?/. ''/'' Then/RB an/DT announcer/NN interjects/VBZ :/: ``/`` It/PRP was/VBD Douglas/NNP Wilder/NNP who/WP introduced/VBD a/DT bill/NN to/TO force/VB rape/NN victims/NNS age/NN 13/CD and/CC younger/JJR to/TO be/VB interrogated/VBN about/IN their/PRP$ private/JJ lives/NNS by/IN lawyers/NNS for/IN accused/VBN rapists/NNS ./.
|
|
So/RB the/DT next/JJ time/NN Mr./NNP Wilder/NNP talks/VBZ about/IN the/DT rights/NNS of/IN women/NNS ,/, ask/VB him/PRP about/IN this/DT law/NN he/PRP tried/VBD to/TO pass/VB ./.
|
|
''/'' Mr./NNP Wilder/NNP did/VBD introduce/VB such/JJ legislation/NN 17/CD years/NNS ago/RB ,/, but/CC he/PRP did/VBD so/RB at/IN the/DT request/NN of/IN a/DT constituent/NN ,/, a/DT common/JJ legislative/JJ technique/NN used/VBN by/IN lawmakers/NNS ./.
|
|
The/DT legislation/NN itself/PRP noted/VBD that/IN it/PRP was/VBD introduced/VBN ``/`` by/IN request/NN ,/, ''/'' and/CC in/IN 1983/CD Mr./NNP Wilder/NNP introduced/VBD a/DT bill/NN to/TO protect/VB rape/NN victims/NNS from/IN unfounded/JJ interrogation/NN ./.
|
|
``/`` People/NNS have/VBP grown/VBN tired/JJ of/IN these/DT ads/NNS and/CC Coleman/NNP has/VBZ gotten/VBN the/DT stigma/NN of/IN being/VBG a/DT negative/JJ campaigner/NN ,/, ''/'' says/VBZ Mark/NNP Rozell/NNP ,/, a/DT political/JJ scientist/NN at/IN Mary/NNP Washington/NNP College/NNP ./.
|
|
``/`` Wilder/NNP has/VBZ managed/VBN to/TO get/VB across/RP the/DT idea/NN that/IN Coleman/NNP will/MD say/VB anything/NN to/TO get/VB elected/VBN governor/NN and/CC --/: more/RBR important/JJ --/: has/VBZ been/VBN able/JJ to/TO put/VB the/DT onus/NN for/IN all/PDT the/DT negative/JJ campaigning/NN on/IN Coleman/NNP ./.
|
|
''/'' Mr./NNP Coleman/NNP said/VBD this/DT week/NN that/IN he/PRP would/MD devote/VB the/DT remainder/NN of/IN the/DT political/JJ season/NN to/TO positive/JJ campaigning/NN ,/, but/CC the/DT truce/NN lasted/VBD only/RB hours/NNS ./.
|
|
By/IN Tuesday/NNP night/NN ,/, television/NN stations/NNS were/VBD carrying/VBG new/JJ ads/NNS featuring/VBG Mr./NNP Coleman/NNP himself/PRP raising/VBG questions/NNS about/IN Mr./NNP Wilder/NNP 's/POS sensitivity/NN to/TO rape/NN victims/NNS ./.
|
|
New/NNP Jersey/NNP :/: The/DT attacks/NNS began/VBD when/WRB Democratic/JJ Rep./NNP James/NNP Florio/NNP aired/VBD an/DT ad/NN featuring/VBG a/DT drawing/NN of/IN Pinocchio/NNP and/CC a/DT photograph/NN of/IN Mr./NNP Florio/NNP 's/POS rival/NN ,/, Republican/JJ Rep./NNP Jim/NNP Courter/NNP ./.
|
|
``/`` Remember/VB Pinocchio/NNP ?/. ''/'' says/VBZ a/DT female/JJ voice/NN ./.
|
|
``/`` Consider/VB Jim/NNP Courter/NNP ./.
|
|
''/'' And/CC then/RB this/DT commercial/NN ,/, produced/VBN by/IN Bob/NNP Squier/NNP ,/, gets/VBZ down/IN to/TO its/PRP$ own/JJ mean/JJ and/CC dirty/JJ business/NN ./.
|
|
Pictures/NNS of/IN rusted/VBN oil/NN drums/NNS swim/VBP into/IN focus/NN ,/, and/CC the/DT female/JJ voice/NN purrs/VBZ ,/, ``/`` That/DT hazardous/JJ waste/NN on/IN his/PRP$ {/( Mr./NNP Courter/NNP 's/POS }/) property/NN --/: the/DT neighbors/NNS are/VBP suing/VBG for/IN consumer/NN fraud/NN ./.
|
|
''/'' And/CC the/DT nose/NN on/IN Mr./NNP Courter/NNP 's/POS face/NN grows/VBZ ./.
|
|
The/DT only/JJ fraud/NN involved/VBN ,/, cry/VBP Mr./NNP Courter/NNP 's/POS partisans/NNS ,/, is/VBZ the/DT Florio/NNP commercial/NN itself/PRP ,/, and/CC so/RB the/DT Courter/NNP campaign/NN has/VBZ responded/VBN with/IN its/PRP$ own/JJ Pinocchio/NNP commercial/NN ,/, produced/VBN by/IN Mr./NNP Ailes/NNP ./.
|
|
In/IN this/DT one/NN ,/, the/DT screen/NN fills/VBZ with/IN photographs/NNS of/IN both/DT candidates/NNS ./.
|
|
``/`` Who/WP 's/VBZ really/RB lying/VBG ?/. ''/'' asks/VBZ a/DT female/JJ voice/NN ./.
|
|
``/`` Florio/NNP 's/VBZ lying/VBG ,/, ''/'' the/DT voice/NN goes/VBZ on/RP ,/, because/IN ``/`` the/DT barrel/NN on/IN Courter/NNP 's/POS land/NN .../: contained/VBD heating/NN oil/NN ,/, was/VBD cleaned/VBN up/RP and/CC caused/VBD no/DT pollution/NN ./.
|
|
''/'' Mr./NNP Courter/NNP 's/POS long/JJ nose/NN shrinks/VBZ while/IN Mr./NNP Florio/NNP 's/POS grows/VBZ ./.
|
|
Who/WP 's/VBZ telling/VBG the/DT truth/NN ?/. Stephen/NNP Salmore/NNP ,/, a/DT political/JJ scientist/NN at/IN New/NNP Jersey/NNP 's/POS Eagleton/NNP Institute/NNP ,/, says/VBZ it/PRP 's/VBZ another/DT example/NN of/IN an/DT ad/NN that/WDT 's/VBZ true/JJ but/CC not/RB fully/RB accurate/JJ ./.
|
|
Barrels/NNS were/VBD dumped/VBN on/IN the/DT Courter/NNP property/NN ,/, a/DT complaint/NN was/VBD made/VBN ,/, but/CC there/EX is/VBZ no/DT evidence/NN the/DT barrels/NNS were/VBD a/DT serious/JJ threat/NN to/TO the/DT environment/NN ./.
|
|
Even/RB so/RB ,/, according/VBG to/TO Mr./NNP Salmore/NNP ,/, the/DT ad/NN was/VBD ``/`` devastating/VBG ''/'' because/IN it/PRP raised/VBD questions/NNS about/IN Mr./NNP Courter/NNP 's/POS credibility/NN ./.
|
|
But/CC it/PRP 's/VBZ building/VBG on/IN a/DT long/JJ tradition/NN ./.
|
|
In/IN 1966/CD ,/, on/IN route/NN to/TO a/DT re-election/NN rout/NN of/IN Democrat/NNP Frank/NNP O'Connor/NNP ,/, GOP/NNP Gov./NNP Nelson/NNP Rockefeller/NNP of/IN New/NNP York/NNP appeared/VBD in/IN person/NN saying/VBG ,/, ``/`` If/IN you/PRP want/VBP to/TO keep/VB the/DT crime/NN rates/NNS high/JJ ,/, O'Connor/NNP is/VBZ your/PRP$ man/NN ./.
|
|
''/'' A/DT seat/NN on/IN the/DT Chicago/NNP Board/NNP of/IN Trade/NNP was/VBD sold/VBN for/IN $/$ 350,000/CD ,/, down/RB $/$ 16,000/CD from/IN the/DT previous/JJ sale/NN last/JJ Friday/NNP ./.
|
|
Seats/NNS currently/RB are/VBP quoted/VBN at/IN $/$ 331,000/CD ,/, bid/NN ,/, and/CC $/$ 350,000/CD ,/, asked/VBN ./.
|
|
The/DT record/JJ price/NN for/IN a/DT full/JJ membership/NN on/IN the/DT exchange/NN is/VBZ $/$ 550,000/CD ,/, set/VBN Aug./NNP 31/CD ,/, 1987/CD ./. Japanese/JJ investment/NN in/IN Southeast/NNP Asia/NNP is/VBZ propelling/VBG the/DT region/NN toward/IN economic/JJ integration/NN ./.
|
|
Interviews/NNS with/IN analysts/NNS and/CC business/NN people/NNS in/IN the/DT U.S./NNP suggest/VBP that/IN Japanese/JJ capital/NN may/MD produce/VB the/DT economic/JJ cooperation/NN that/IN Southeast/JJ Asian/JJ politicians/NNS have/VBP pursued/VBN in/IN fits/NNS and/CC starts/NNS for/IN decades/NNS ./.
|
|
But/CC Japan/NNP 's/POS power/NN in/IN the/DT region/NN also/RB is/VBZ sparking/VBG fears/NNS of/IN domination/NN and/CC posing/VBG fresh/JJ policy/NN questions/NNS ./.
|
|
The/DT flow/NN of/IN Japanese/JJ funds/NNS has/VBZ set/VBN in/IN motion/NN ``/`` a/DT process/NN whereby/WRB these/DT economies/NNS will/MD be/VB knitted/VBN together/RB by/IN the/DT great/JJ Japanese/JJ investment/NN machine/NN ,/, ''/'' says/VBZ Robert/NNP Hormats/NNP ,/, vice/NN chairman/NN of/IN Goldman/NNP Sachs/NNP International/NNP Corp/NNP ./.
|
|
In/IN the/DT past/JJ five/CD years/NNS ,/, Japanese/JJ companies/NNS have/VBP tripled/VBN their/PRP$ commitments/NNS in/IN Asia/NNP to/TO $/$ 5.57/CD billion/CD ./.
|
|
In/IN Thailand/NNP ,/, for/IN example/NN ,/, the/DT government/NN 's/POS Board/NNP of/IN Investment/NNP approved/VBD $/$ 705.6/CD million/CD of/IN Japanese/JJ investment/NN in/IN 1988/CD ,/, 10/CD times/NNS the/DT U.S./NNP investment/NN figure/NN for/IN the/DT year/NN ./.
|
|
Japan/NNP 's/POS commitment/NN in/IN Southeast/NNP Asia/NNP also/RB includes/VBZ steep/JJ increases/NNS in/IN foreign/JJ assistance/NN and/CC trade/NN ./.
|
|
Asia/NNP 's/POS other/JJ cash-rich/JJ countries/NNS are/VBP following/VBG Japan/NNP 's/POS lead/NN and/CC pumping/VBG capital/NN into/IN the/DT region/NN ./.
|
|
In/IN Taiwan/NNP and/CC South/NNP Korea/NNP ,/, rising/VBG wages/NNS are/VBP forcing/VBG manufacturers/NNS to/TO seek/VB other/JJ overseas/JJ sites/NNS for/IN labor-intensive/JJ production/NN ./.
|
|
These/DT nations/NNS ,/, known/VBN as/IN Asia/NNP 's/POS ``/`` little/JJ tigers/NNS ,/, ''/'' also/RB are/VBP contributing/VBG to/TO Southeast/NNP Asia/NNP 's/POS integration/NN ,/, but/CC their/PRP$ influence/NN will/MD remain/VB subordinate/JJ to/TO Japan/NNP 's/POS ./.
|
|
For/IN recipient/JJ countries/NNS such/JJ as/IN Thailand/NNP and/CC Malaysia/NNP ,/, the/DT investment/NN will/MD provide/VB needed/JJ jobs/NNS and/CC spur/VB growth/NN ./.
|
|
But/CC Asian/JJ nations/NNS '/POS harsh/JJ memories/NNS of/IN their/PRP$ military/JJ domination/NN by/IN Japan/NNP in/IN the/DT early/JJ part/NN of/IN this/DT century/NN make/VBP them/PRP fearful/JJ of/IN falling/VBG under/IN Japanese/JJ economic/JJ hegemony/NN now/RB ./.
|
|
Because/IN of/IN budget/NN constraints/NNS in/IN Washington/NNP ,/, the/DT U.S./NNP encourages/VBZ Japan/NNP to/TO share/VB economic/JJ burdens/NNS in/IN the/DT region/NN ./.
|
|
But/CC it/PRP resists/VBZ yielding/VBG political/JJ ground/NN ./.
|
|
In/IN the/DT coming/VBG decade/NN ,/, analysts/NNS say/VBP ,/, U.S.-Japanese/JJ relations/NNS will/MD be/VB tested/VBN as/IN Tokyo/NNP comes/VBZ to/TO terms/NNS with/IN its/PRP$ new/JJ status/NN as/IN the/DT region/NN 's/POS economic/JJ behemoth/NN ./.
|
|
Japan/NNP 's/POS swelling/VBG investment/NN in/IN Southeast/NNP Asia/NNP is/VBZ part/NN of/IN its/PRP$ economic/JJ evolution/NN ./.
|
|
In/IN the/DT past/NN decade/NN ,/, Japanese/JJ manufacturers/NNS concentrated/VBD on/IN domestic/JJ production/NN for/IN export/NN ./.
|
|
In/IN the/DT 1990s/NNS ,/, spurred/VBN by/IN rising/VBG labor/NN costs/NNS and/CC the/DT strong/JJ yen/NNS ,/, these/DT companies/NNS will/MD increasingly/RB turn/VB themselves/PRP into/IN multinationals/NNS with/IN plants/NNS around/IN the/DT world/NN ./.
|
|
To/TO capture/VB the/DT investment/NN ,/, Southeast/JJ Asian/JJ nations/NNS will/MD move/VB to/TO accommodate/VB Japanese/JJ business/NN ./.
|
|
These/DT nations/NNS '/POS internal/JJ decisions/NNS ``/`` will/MD be/VB made/VBN in/IN a/DT way/NN not/RB to/TO offend/VB their/PRP$ largest/JJS aid/NN donor/NN ,/, largest/JJS private/JJ investor/NN and/CC largest/JJS lender/NN ,/, ''/'' says/VBZ Richard/NNP Drobnick/NNP ,/, director/NN of/IN the/DT international/JJ business/NN and/CC research/NN program/NN at/IN the/DT University/NNP of/IN Southern/NNP California/NNP 's/POS Graduate/NNP School/NNP of/IN Business/NNP ./.
|
|
Japanese/JJ money/NN will/MD help/VB turn/VB Southeast/NNP Asia/NNP into/IN a/DT more/RBR cohesive/JJ economic/JJ region/NN ./.
|
|
But/CC ,/, analysts/NNS say/VBP ,/, Asian/JJ cooperation/NN is/VBZ n't/RB likely/JJ to/TO parallel/VB the/DT European/NNP Common/NNP Market/NNP approach/NN ./.
|
|
Rather/RB ,/, Japanese/JJ investment/NN will/MD spur/VB integration/NN of/IN certain/JJ sectors/NNS ,/, says/VBZ Kent/NNP Calder/NNP ,/, a/DT specialist/NN in/IN East/JJ Asian/JJ economies/NNS at/IN the/DT Woodrow/NNP Wilson/NNP School/NNP for/IN Public/NNP and/CC Internatonal/NNP Affairs/NNP at/IN Princeton/NNP University/NNP ./.
|
|
In/IN electronics/NNS ,/, for/IN example/NN ,/, a/DT Japanese/JJ company/NN might/MD make/VB television/NN picture/NN tubes/NNS in/IN Japan/NNP ,/, assemble/VB the/DT sets/NNS in/IN Malaysia/NNP and/CC export/VB them/PRP to/TO Indonesia/NNP ./.
|
|
``/`` The/DT effect/NN will/MD be/VB to/TO pull/VB Asia/NN together/RB not/RB as/IN a/DT common/JJ market/NN but/CC as/IN an/DT integrated/JJ production/NN zone/NN ,/, ''/'' says/VBZ Goldman/NNP Sachs/NNP 's/POS Mr./NNP Hormats/NNP ./.
|
|
Countries/NNS in/IN the/DT region/NN also/RB are/VBP beginning/VBG to/TO consider/VB a/DT framework/NN for/IN closer/JJR economic/JJ and/CC political/JJ ties/NNS ./.
|
|
The/DT economic/JJ and/CC foreign/JJ ministers/NNS of/IN 12/CD Asian/JJ and/CC Pacific/NNP nations/NNS will/MD meet/VB in/IN Australia/NNP next/JJ week/NN to/TO discuss/VB global/JJ trade/NN issues/NNS as/RB well/RB as/IN regional/JJ matters/NNS such/JJ as/IN transportation/NN and/CC telecommunications/NN ./.
|
|
Participants/NNS will/MD include/VB the/DT U.S./NNP ,/, Australia/NNP ,/, Canada/NNP ,/, Japan/NNP ,/, South/NNP Korea/NNP and/CC New/NNP Zealand/NNP as/RB well/RB as/IN the/DT six/CD members/NNS of/IN the/DT Association/NNP of/IN Southeast/NNP Asian/NNP Nations/NNPS --/: Thailand/NNP ,/, Malaysia/NNP ,/, Singapore/NNP ,/, Indonesia/NNP ,/, the/DT Philippines/NNPS and/CC Brunei/NNP ./.
|
|
In/IN addition/NN ,/, the/DT U.S./NNP this/DT year/NN offered/VBD its/PRP$ own/JJ plan/NN for/IN cooperation/NN around/IN the/DT Pacific/NNP rim/NN in/IN a/DT major/JJ speech/NN by/IN Secretary/NNP of/IN State/NNP James/NNP Baker/NNP ,/, following/VBG up/RB a/DT proposal/NN made/VBN in/IN January/NNP by/IN Australian/NNP Prime/NNP Minister/NNP Bob/NNP Hawke/NNP ./.
|
|
The/DT Baker/NNP proposal/NN reasserts/VBZ Washington/NNP 's/POS intention/NN to/TO continue/VB playing/VBG a/DT leading/VBG political/JJ role/NN in/IN the/DT region/NN ./.
|
|
``/`` In/IN Asia/NNP ,/, as/IN in/IN Europe/NNP ,/, a/DT new/JJ order/NN is/VBZ taking/VBG shape/NN ,/, ''/'' Mr./NNP Baker/NNP said/VBD ./.
|
|
``/`` The/DT U.S./NNP ,/, with/IN its/PRP$ regional/JJ friends/NNS ,/, must/MD play/VB a/DT crucial/JJ role/NN in/IN designing/VBG its/PRP$ architecture/NN ./.
|
|
''/'' But/CC maintaining/VBG U.S./NNP influence/NN will/MD be/VB difficult/JJ in/IN the/DT face/NN of/IN Japanese/JJ dominance/NN in/IN the/DT region/NN ./.
|
|
Japan/NNP not/RB only/RB outstrips/VBZ the/DT U.S./NNP in/IN investment/NN flows/NNS but/CC also/RB outranks/VBZ it/PRP in/IN trade/NN with/IN most/JJS Southeast/JJ Asian/JJ countries/NNS (/( although/IN the/DT U.S./NNP remains/VBZ the/DT leading/VBG trade/NN partner/NN for/IN all/DT of/IN Asia/NNP )/) ./.
|
|
Moreover/RB ,/, the/DT Japanese/JJ government/NN ,/, now/RB the/DT world/NN 's/POS largest/JJS aid/NN donor/NN ,/, is/VBZ pumping/VBG far/RB more/JJR assistance/NN into/IN the/DT region/NN than/IN the/DT U.S./NNP is/VBZ ./.
|
|
While/IN U.S./NNP officials/NNS voice/VBP optimism/NN about/IN Japan/NNP 's/POS enlarged/JJ role/NN in/IN Asia/NNP ,/, they/PRP also/RB convey/VBP an/DT undertone/NN of/IN caution/NN ./.
|
|
``/`` There/EX 's/VBZ an/DT understanding/NN on/IN the/DT part/NN of/IN the/DT U.S./NNP that/IN Japan/NNP has/VBZ to/TO expand/VB its/PRP$ functions/NNS ''/'' in/IN Asia/NNP ,/, says/VBZ J./NNP Michael/NNP Farren/NNP ,/, undersecretary/NN of/IN commerce/NN for/IN trade/NN ./.
|
|
``/`` If/IN they/PRP approach/VBP it/PRP with/IN a/DT benevolent/JJ ,/, altruistic/JJ attitude/NN ,/, there/EX will/MD be/VB a/DT net/JJ gain/NN for/IN everyone/NN ./.
|
|
''/'' Some/DT Asian/JJ nations/NNS are/VBP apprehensive/JJ about/IN Washington/NNP 's/POS demand/NN that/IN Tokyo/NNP step/VB up/RP its/PRP$ military/JJ spending/NN to/TO ease/VB the/DT U.S./NNP security/NN burden/NN in/IN the/DT region/NN ./.
|
|
The/DT issue/NN is/VBZ further/RBR complicated/JJ by/IN uncertainty/NN over/IN the/DT future/NN of/IN the/DT U.S./NNP 's/POS leases/NNS on/IN military/JJ bases/NNS in/IN the/DT Philippines/NNPS and/CC by/IN a/DT possible/JJ U.S./NNP troop/NN reduction/NN in/IN South/NNP Korea/NNP ./.
|
|
Many/JJ Asians/NNPS regard/VBP a/DT U.S./NNP presence/NN as/IN a/DT desirable/JJ counterweight/NN to/TO Japanese/JJ influence/NN ./.
|
|
``/`` No/DT one/NN wants/VBZ the/DT U.S./NNP to/TO pick/VB up/RP its/PRP$ marbles/NNS and/CC go/VB home/RB ,/, ''/'' Mr./NNP Hormats/NNP says/VBZ ./.
|
|
For/IN their/PRP$ part/NN ,/, Taiwan/NNP and/CC South/NNP Korea/NNP are/VBP expected/VBN to/TO step/VB up/RP their/PRP$ own/JJ investments/NNS in/IN the/DT next/JJ decade/NN to/TO try/VB to/TO slow/VB the/DT Japanese/JJ juggernaut/NN ./.
|
|
``/`` They/PRP do/VBP n't/RB want/VB Japan/NNP to/TO monopolize/VB the/DT region/NN and/CC sew/VB it/PRP up/RP ,/, ''/'' says/VBZ Chong-sik/NNP Lee/NNP ,/, professor/NN of/IN East/JJ Asian/JJ politics/NNS at/IN the/DT University/NNP of/IN Pennsylvania/NNP ./. Cathryn/NNP Rice/NNP could/MD hardly/RB believe/VB her/PRP$ eyes/NNS ./.
|
|
While/IN giving/VBG the/DT Comprehensive/JJ Test/NN of/IN Basic/JJ Skills/NNS to/TO ninth/JJ graders/NNS at/IN Greenville/NNP High/NNP School/NNP last/JJ March/NNP 16/CD ,/, she/PRP spotted/VBD a/DT student/NN looking/VBG at/IN crib/JJ sheets/NNS ./.
|
|
She/PRP had/VBD seen/VBN cheating/NN before/RB ,/, but/CC these/DT notes/NNS were/VBD uncanny/JJ ./.
|
|
``/`` A/DT stockbroker/NN is/VBZ an/DT example/NN of/IN a/DT profession/NN in/IN trade/NN and/CC finance/NN .../: ./.
|
|
At/IN the/DT end/NN of/IN World/NNP War/NNP II/NNP ,/, Germany/NNP surrendered/VBD before/IN Japan/NNP .../: ./.
|
|
The/DT Senate-House/JJ conference/NN committee/NN is/VBZ used/VBN when/WRB a/DT bill/NN is/VBZ passed/VBN by/IN the/DT House/NNP and/CC Senate/NNP in/IN different/JJ forms/NNS ./.
|
|
''/'' Virtually/RB word/NN for/IN word/NN ,/, the/DT notes/NNS matched/VBD questions/NNS and/CC answers/NNS on/IN the/DT social-studies/NN section/NN of/IN the/DT test/NN the/DT student/NN was/VBD taking/VBG ./.
|
|
In/IN fact/NN ,/, the/DT student/NN had/VBD the/DT answers/NNS to/TO almost/RB all/DT of/IN the/DT 40/CD questions/NNS in/IN that/DT section/NN ./.
|
|
The/DT student/NN surrendered/VBD the/DT notes/NNS ,/, but/CC not/RB without/IN a/DT protest/NN ./.
|
|
``/`` My/PRP$ teacher/NN said/VBD it/PRP was/VBD OK/UH for/IN me/PRP to/TO use/VB the/DT notes/NNS on/IN the/DT test/NN ,/, ''/'' he/PRP said/VBD ./.
|
|
The/DT teacher/NN in/IN question/NN was/VBD Nancy/NNP Yeargin/NNP --/: considered/VBN by/IN many/JJ students/NNS and/CC parents/NNS to/TO be/VB one/CD of/IN the/DT best/JJS at/IN the/DT school/NN ./.
|
|
Confronted/VBN ,/, Mrs./NNP Yeargin/NNP admitted/VBD she/PRP had/VBD given/VBN the/DT questions/NNS and/CC answers/VBZ two/CD days/NNS before/IN the/DT examination/NN to/TO two/CD low-ability/JJ geography/NN classes/NNS ./.
|
|
She/PRP had/VBD gone/VBN so/RB far/RB as/IN to/TO display/VB the/DT questions/NNS on/IN an/DT overhead/JJ projector/NN and/CC underline/VB the/DT answers/NNS ./.
|
|
Mrs./NNP Yeargin/NNP was/VBD fired/VBN and/CC prosecuted/VBN under/IN an/DT unusual/JJ South/NNP Carolina/NNP law/NN that/WDT makes/VBZ it/PRP a/DT crime/NN to/TO breach/VB test/NN security/NN ./.
|
|
In/IN September/NNP ,/, she/PRP pleaded/VBD guilty/JJ and/CC paid/VBD a/DT $/$ 500/CD fine/NN ./.
|
|
Her/PRP$ alternative/NN was/VBD 90/CD days/NNS in/IN jail/NN ./.
|
|
Her/PRP$ story/NN is/VBZ partly/RB one/NN of/IN personal/JJ downfall/NN ./.
|
|
She/PRP was/VBD an/DT unstinting/JJ teacher/NN who/WP won/VBD laurels/NNS and/CC inspired/VBD students/NNS ,/, but/CC she/PRP will/MD probably/RB never/RB teach/VB again/RB ./.
|
|
In/IN her/PRP$ wake/NN she/PRP left/VBD the/DT bitterness/NN and/CC anger/NN of/IN a/DT principal/NN who/WP was/VBD her/PRP$ friend/NN and/CC now/RB calls/VBZ her/PRP a/DT betrayer/NN ;/: of/IN colleagues/NNS who/WP say/VBP she/PRP brought/VBD them/PRP shame/NN ;/: of/IN students/NNS and/CC parents/NNS who/WP defended/VBD her/PRP and/CC insist/VBP she/PRP was/VBD treated/VBN harshly/RB ;/: and/CC of/IN school-district/NN officials/NNS stunned/JJ that/IN despite/IN the/DT bald-faced/JJ nature/NN of/IN her/PRP$ actions/NNS ,/, she/PRP became/VBD something/NN of/IN a/DT local/JJ martyr/NN ./.
|
|
Mrs./NNP Yeargin/NNP 's/POS case/NN also/RB casts/VBZ some/DT light/NN on/IN the/DT dark/JJ side/NN of/IN school/NN reform/NN ,/, where/WRB pressures/NNS on/IN teachers/NNS are/VBP growing/VBG and/CC where/WRB high-stakes/JJ testing/NN has/VBZ enhanced/VBN the/DT temptation/NN to/TO cheat/VB ./.
|
|
The/DT 1987/CD statute/NN Mrs./NNP Yeargin/NNP violated/VBD was/VBD designed/VBN to/TO enforce/VB provisions/NNS of/IN South/NNP Carolina/NNP 's/POS school-improvement/JJ laws/NNS ./.
|
|
Prosecutors/NNS alleged/VBD that/IN she/PRP was/VBD trying/VBG to/TO bolster/VB students/NNS '/POS scores/NNS to/TO win/VB a/DT bonus/NN under/IN the/DT state/NN 's/POS 1984/CD Education/NNP Improvement/NNP Act/NNP ./.
|
|
The/DT bonus/NN depended/VBD on/IN her/PRP$ ability/NN to/TO produce/VB higher/JJR student-test/JJ scores/NNS ./.
|
|
``/`` There/EX is/VBZ incredible/JJ pressure/NN on/IN school/NN systems/NNS and/CC teachers/NNS to/TO raise/VB test/NN scores/NNS ,/, ''/'' says/VBZ Walt/NNP Haney/NNP ,/, an/DT education/NN professor/NN and/CC testing/NN specialist/NN at/IN Boston/NNP College/NNP ./.
|
|
``/`` So/RB efforts/NNS to/TO beat/VB the/DT tests/NNS are/VBP also/RB on/IN the/DT rise/NN ./.
|
|
''/'' And/CC most/RBS disturbing/JJ ,/, it/PRP is/VBZ educators/NNS ,/, not/RB students/NNS ,/, who/WP are/VBP blamed/VBN for/IN much/RB of/IN the/DT wrongdoing/NN ./.
|
|
A/DT 50-state/JJ study/NN released/VBN in/IN September/NNP by/IN Friends/NNPS for/IN Education/NNP ,/, an/DT Albuquerque/NNP ,/, N.M./NNP ,/, school-research/JJ group/NN ,/, concluded/VBD that/IN ``/`` outright/JJ cheating/NN by/IN American/JJ educators/NNS ''/'' is/VBZ ``/`` common/JJ ./.
|
|
''/'' The/DT group/NN says/VBZ standardized/JJ achievement/NN test/NN scores/NNS are/VBP greatly/RB inflated/VBN because/IN teachers/NNS often/RB ``/`` teach/VBP the/DT test/NN ''/'' as/IN Mrs./NNP Yeargin/NNP did/VBD ,/, although/IN most/JJS are/VBP never/RB caught/VBN ./.
|
|
Evidence/NN of/IN widespread/JJ cheating/NN has/VBZ surfaced/VBN in/IN several/JJ states/NNS in/IN the/DT last/JJ year/NN or/CC so/RB ./.
|
|
California/NNP 's/POS education/NN department/NN suspects/VBZ adult/NN responsibility/NN for/IN erasures/NNS at/IN 40/CD schools/NNS that/WDT changed/VBD wrong/JJ answers/NNS to/TO right/JJ ones/NNS on/IN a/DT statewide/JJ test/NN ./.
|
|
After/IN numerous/JJ occurrences/NNS of/IN questionable/JJ teacher/NN help/NN to/TO students/NNS ,/, Texas/NNP is/VBZ revising/VBG its/PRP$ security/NN practices/NNS ./.
|
|
And/CC sales/NNS of/IN test-coaching/JJ booklets/NNS for/IN classroom/NN instruction/NN are/VBP booming/VBG ./.
|
|
These/DT materials/NNS ,/, including/VBG Macmillan&slash;McGraw-Hill/NNP School/NNP Publishing/NNP Co./NNP 's/POS Scoring/NNP High/NNP and/CC Learning/NNP Materials/NNPS --/: are/VBP nothing/NN short/JJ of/IN sophisticated/JJ crib/NN sheets/NNS ,/, according/VBG to/TO some/DT recent/JJ academic/JJ research/NN ./.
|
|
By/IN using/VBG them/PRP ,/, teachers/NNS --/: with/IN administrative/JJ blessing/NN --/: telegraph/VBP to/TO students/NNS beforehand/RB the/DT precise/JJ areas/NNS on/IN which/WDT a/DT test/NN will/MD concentrate/VB ,/, and/CC sometimes/RB give/VB away/RB a/DT few/JJ exact/JJ questions/NNS and/CC answers/NNS ./.
|
|
Use/NN of/IN Scoring/NNP High/NNP is/VBZ widespread/JJ in/IN South/NNP Carolina/NNP and/CC common/JJ in/IN Greenville/NNP County/NNP ,/, Mrs./NNP Yeargin/NNP 's/POS school/NN district/NN ./.
|
|
Experts/NNS say/VBP there/EX is/VBZ n't/RB another/DT state/NN in/IN the/DT country/NN where/WRB tests/NNS mean/VBP as/RB much/JJ as/IN they/PRP do/VBP in/IN South/NNP Carolina/NNP ./.
|
|
Under/IN the/DT state/NN 's/POS Education/NNP Improvement/NNP Act/NNP ,/, low/JJ test/NN scores/NNS can/MD block/VB students/NNS '/POS promotions/NNS or/CC force/VB entire/JJ districts/NNS into/IN wrenching/JJ ,/, state-supervised/JJ ``/`` interventions/NNS ''/'' that/WDT can/MD mean/VB firings/NNS ./.
|
|
High/JJ test/NN scores/NNS ,/, on/IN the/DT other/JJ hand/NN ,/, bring/VB recognition/NN and/CC extra/JJ money/NN --/: a/IN new/JJ computer/NN lab/NN for/IN a/DT school/NN ,/, grants/NNS for/IN special/JJ projects/NNS ,/, a/DT bonus/NN for/IN the/DT superintendent/NN ./.
|
|
And/CC South/NNP Carolina/NNP says/VBZ it/PRP is/VBZ getting/VBG results/NNS ./.
|
|
Since/IN the/DT reforms/NNS went/VBD in/IN place/NN ,/, for/IN example/NN ,/, no/DT state/NN has/VBZ posted/VBN a/DT higher/JJR rate/NN of/IN improvement/NN on/IN the/DT Scholastic/NNP Aptitude/NNP Test/NNP than/IN South/NNP Carolina/NNP ,/, although/IN the/DT state/NN still/RB posts/VBZ the/DT lowest/JJS average/JJ score/NN of/IN the/DT about/IN 21/CD states/NNS who/WP use/VBP the/DT SAT/NNP as/IN the/DT primary/JJ college/NN entrance/NN examination/NN ./.
|
|
Critics/NNS say/VBP South/NNP Carolina/NNP is/VBZ paying/VBG a/DT price/NN by/IN stressing/VBG improved/VBN test/NN scores/NNS so/RB much/RB ./.
|
|
Friends/NNPS of/IN Education/NNP rates/VBZ South/NNP Carolina/NNP one/CD of/IN the/DT worst/JJS seven/CD states/NNS in/IN its/PRP$ study/NN on/IN academic/JJ cheating/NN ./.
|
|
Says/VBZ the/DT organization/NN 's/POS founder/NN ,/, John/NNP Cannell/NNP ,/, prosecuting/VBG Mrs./NNP Yeargin/NNP is/VBZ ``/`` a/DT way/NN for/IN administrators/NNS to/TO protect/VB themselves/PRP and/CC look/VB like/IN they/PRP take/VBP cheating/NN seriously/RB ,/, when/WRB in/IN fact/NN they/PRP do/VBP n't/RB take/VB it/PRP seriously/RB at/IN all/DT ./.
|
|
''/'' Paul/NNP Sandifer/NNP ,/, director/NN of/IN testing/NN for/IN the/DT South/NNP Carolina/NNP department/NN of/IN education/NN ,/, says/VBZ Mr./NNP Cannell/NNP 's/POS allegations/NNS of/IN cheating/NN ``/`` are/VBP purely/RB without/IN foundation/NN ,/, ''/'' and/CC based/VBN on/IN unfair/JJ inferences/NNS ./.
|
|
Partly/RB because/IN of/IN worries/NNS about/IN potential/JJ abuse/NN ,/, however/RB ,/, he/PRP says/VBZ the/DT state/NN will/MD begin/VB keeping/VBG closer/JJR track/NN of/IN achievement-test/NN preparation/NN booklets/NNS next/JJ spring/NN ./.
|
|
South/NNP Carolina/NNP 's/POS reforms/NNS were/VBD designed/VBN for/IN schools/NNS like/IN Greenville/NNP High/NNP School/NNP ./.
|
|
Standing/VBG on/IN a/DT shaded/JJ hill/NN in/IN a/DT run-down/JJ area/NN of/IN this/DT old/JJ textile/NN city/NN ,/, the/DT school/NN has/VBZ educated/VBN many/JJ of/IN South/NNP Carolina/NNP 's/POS best/JJS and/CC brightest/JJS ,/, including/VBG the/DT state/NN 's/POS last/JJ two/CD governors/NNS ,/, Nobel/NNP Prize/NNP winning/JJ physicist/NN Charles/NNP Townes/NNP and/CC actress/NN Joanne/NNP Woodward/NNP ./.
|
|
But/CC by/IN the/DT early/JJ 1980s/NN ,/, its/PRP$ glory/NN had/VBD faded/VBN like/IN the/DT yellow/JJ bricks/NNS of/IN its/PRP$ broad/JJ facade/NN ./.
|
|
``/`` It/PRP was/VBD full/JJ of/IN violence/NN and/CC gangs/NNS and/CC kids/NNS cutting/VBG class/NN ,/, ''/'' says/VBZ Linda/NNP Ward/NNP ,/, the/DT school/NN 's/POS principal/NN ./.
|
|
``/`` Crime/NN was/VBD awful/JJ ,/, test/NN scores/NNS were/VBD low/JJ ,/, and/CC there/EX was/VBD no/DT enrollment/NN in/IN honors/NNS programs/NNS ./.
|
|
''/'' Mrs./NNP Ward/NNP took/VBD over/RB in/IN 1986/CD ,/, becoming/VBG the/DT school/NN 's/POS seventh/JJ principal/NN in/IN 15/CD years/NNS ./.
|
|
Her/PRP$ immediate/JJ predecessor/NN suffered/VBD a/DT nervous/JJ breakdown/NN ./.
|
|
Prior/RB to/TO his/PRP$ term/NN ,/, a/DT teacher/NN bled/VBD to/TO death/NN in/IN the/DT halls/NNS ,/, stabbed/VBN by/IN a/DT student/NN ./.
|
|
Academically/RB ,/, Mrs./NNP Ward/NNP says/VBZ ,/, the/DT school/NN was/VBD having/VBG trouble/NN serving/VBG in/IN harmony/NN its/PRP$ two/CD disparate/JJ ,/, and/CC evenly/RB split/JJ ,/, student/NN groups/NNS :/: a/DT privileged/JJ white/JJ elite/NN from/IN old/JJ monied/JJ neighborhoods/NNS and/CC blacks/NNS ,/, many/JJ of/IN them/PRP poor/JJ ,/, from/IN run-down/JJ ,/, inner/JJ city/NN neighborhoods/NNS ./.
|
|
Mrs./NNP Ward/NNP resolved/VBD to/TO clean/VB out/RP ``/`` deadwood/NN ''/'' in/IN the/DT school/NN 's/POS faculty/NN and/CC restore/VB safety/NN ,/, and/CC she/PRP also/RB had/VBD some/DT new/JJ factors/NNS working/VBG in/IN her/PRP$ behalf/NN ./.
|
|
One/CD was/VBD statewide/JJ school/NN reform/NN ,/, which/WDT raised/VBD overall/JJ educational/JJ funding/NN and/CC ushered/VBD in/IN a/DT new/JJ public/JJ spirit/NN for/IN school/NN betterment/NN ./.
|
|
Another/DT was/VBD Nancy/NNP Yeargin/NNP ,/, who/WP came/VBD to/TO Greenville/NNP in/IN 1985/CD ,/, full/JJ of/IN the/DT energy/NN and/CC ambitions/NNS that/IN reformers/NNS wanted/VBD to/TO reward/VB ./.
|
|
``/`` Being/VBG a/DT teacher/NN just/RB became/VBD my/PRP$ life/NN ,/, ''/'' says/VBZ the/DT 37-year-old/JJ Mrs./NNP Yeargin/NNP ,/, a/DT teacher/NN for/IN 12/CD years/NNS before/IN her/PRP$ dismissal/NN ./.
|
|
``/`` I/PRP loved/VBD the/DT school/NN ,/, its/PRP$ history/NN ./.
|
|
I/PRP even/RB dreamt/VBD about/IN school/NN and/CC new/JJ things/NNS to/TO do/VB with/IN my/PRP$ students/NNS ./.
|
|
''/'' While/IN Mrs./NNP Ward/NNP fired/VBD and/CC restructured/VBD staff/NN and/CC struggled/VBD to/TO improve/VB curriculum/NN ,/, Mrs./NNP Yeargin/NNP worked/VBD 14-hour/JJ days/NNS and/CC fast/RB became/VBD a/DT student/NN favorite/JJ ./.
|
|
In/IN 1986-87/CD and/CC 1987-88/CD ,/, she/PRP applied/VBD for/IN and/CC won/VBD bonus/NN pay/NN under/IN the/DT reform/NN law/NN ./.
|
|
Encouraged/JJ by/IN Mrs./NNP Ward/NNP ,/, Mrs./NNP Yeargin/NNP taught/VBD honor/NN students/NNS in/IN the/DT state/NN ``/`` teacher/NN cadet/NN ''/'' program/NN ,/, a/DT reform/NN creation/NN designed/VBN to/TO encourage/VB good/JJ students/NNS to/TO consider/VB teaching/NN as/IN a/DT career/NN ./.
|
|
She/PRP won/VBD grant/NN money/NN for/IN the/DT school/NN ,/, advised/VBD cheerleaders/NNS ,/, ran/VBD the/DT pep/NN club/NN ,/, proposed/VBD and/CC taught/VBD a/DT new/JJ ``/`` Cultural/JJ Literacy/NN ''/'' class/NN in/IN Western/JJ Civilization/NN and/CC was/VBD chosen/VBN by/IN the/DT school/NN PTA/NNP as/IN ``/`` Teacher/NN of/IN the/DT Year/NN ./.
|
|
''/'' ``/`` She/PRP was/VBD an/DT inspirational/JJ lady/NN ;/: she/PRP had/VBD it/PRP all/RB together/RB ,/, ''/'' says/VBZ Laura/NNP Dobson/NNP ,/, a/DT freshman/NN at/IN the/DT University/NNP of/IN South/NNP Carolina/NNP who/WP had/VBD Mrs./NNP Yeargin/NNP in/IN the/DT teacher-cadet/JJ class/NN last/JJ year/NN ./.
|
|
She/PRP says/VBZ that/IN because/IN of/IN Mrs./NNP Yeargin/NNP she/PRP gave/VBD up/RP ambitions/NNS in/IN architecture/NN and/CC is/VBZ studying/VBG to/TO become/VB a/DT teacher/NN ./.
|
|
Mary/NNP Beth/NNP Marchand/NNP ,/, a/DT Greenville/NNP 11th/JJ grader/NN ,/, also/RB says/VBZ Mrs./NNP Yeargin/NNP inspired/VBD her/PRP to/TO go/VB into/IN education/NN ./.
|
|
``/`` She/PRP taught/VBD us/PRP more/JJR in/IN Western/JJ Civilization/NN than/IN I/PRP 've/VBP ever/RB learned/VBN in/IN other/JJ classes/NNS ,/, ''/'' says/VBZ Kelli/NNP Green/NNP ,/, a/DT Greenville/NNP senior/NN ./.
|
|
In/IN the/DT classroom/NN ,/, students/NNS say/VBP ,/, Mrs./NNP Yeargin/NNP distinguished/VBD herself/PRP by/IN varying/VBG teaching/NN approaches/NNS --/: forcing/JJ kids/NNS to/TO pair/VB up/RB to/TO complete/VB classroom/NN work/NN or/CC using/VBG college-bowl/NN type/NN competitions/NNS ./.
|
|
On/IN weekends/NNS ,/, she/PRP came/VBD to/TO work/VB to/TO prepare/VB study/NN plans/NNS or/CC sometimes/RB ,/, even/RB to/TO polish/VB the/DT furniture/NN in/IN her/PRP$ classroom/NN ./.
|
|
``/`` She/PRP just/RB never/RB gave/VBD it/PRP up/RP ,/, ''/'' says/VBZ Mary/NNP Marchand/NNP ,/, Mary/NNP Beth/NNP 's/POS mother/NN ./.
|
|
``/`` You/PRP 'd/MD see/VB her/PRP correcting/VBG homework/NN in/IN the/DT stands/NNS at/IN a/DT football/NN game/NN ./.
|
|
''/'' Some/DT fellow/JJ teachers/NNS ,/, however/RB ,/, viewed/VBD Mrs./NNP Yeargin/NNP as/IN cocky/JJ and/CC too/RB yielding/JJ to/TO students/NNS ./.
|
|
Mrs./NNP Ward/NNP says/VBZ she/PRP often/RB defended/VBD her/PRP to/TO colleagues/NNS who/WP called/VBD her/PRP a/DT grandstander/NN ./.
|
|
Pressures/NNS began/VBD to/TO build/VB ./.
|
|
Friends/NNS told/VBD her/PRP she/PRP was/VBD pushing/VBG too/RB hard/RB ./.
|
|
Because/IN of/IN deteriorating/VBG hearing/NN ,/, she/PRP told/VBD colleagues/NNS she/PRP feared/VBD she/PRP might/MD not/RB be/VB able/JJ to/TO teach/VB much/RB longer/RBR ./.
|
|
Mrs./NNP Yeargin/NNP 's/POS extra/JJ work/NN was/VBD also/RB helping/VBG her/PRP earn/VB points/NNS in/IN the/DT state/NN 's/POS incentive-bonus/NN program/NN ./.
|
|
But/CC the/DT most/RBS important/JJ source/NN of/IN points/NNS was/VBD student/NN improvement/NN on/IN tests/NNS ./.
|
|
Huge/JJ gains/NNS by/IN her/PRP$ students/NNS in/IN 1987/CD and/CC 1988/CD meant/VBD a/DT total/NN of/IN $/$ 5,000/CD in/IN bonuses/NNS over/IN two/CD years/NNS --/: a/JJ meaningful/JJ addition/NN to/TO her/PRP$ annual/JJ salary/NN of/IN $/$ 23,000/CD ./.
|
|
Winning/VBG a/DT bonus/NN for/IN a/DT third/JJ year/NN was/VBD n't/RB that/RB important/JJ to/TO her/PRP ,/, Mrs./NNP Yeargin/NNP insists/VBZ ./.
|
|
But/CC others/NNS at/IN Greenville/NNP High/NNP say/VB she/PRP was/VBD eager/JJ to/TO win/VB --/: if/JJ not/RB for/IN money/NN ,/, then/RB for/IN pride/NN and/CC recognition/NN ./.
|
|
Mary/NNP Elizabeth/NNP Ariail/NNP ,/, another/DT social-studies/NN teacher/NN ,/, says/VBZ she/PRP believed/VBD Mrs./NNP Yeargin/NNP wanted/VBD to/TO keep/VB her/PRP standing/NN high/RB so/IN she/PRP could/MD get/VB a/DT new/JJ job/NN that/WDT would/MD n't/RB demand/VB good/JJ hearing/NN ./.
|
|
Indeed/RB ,/, Mrs./NNP Yeargin/NNP was/VBD interested/JJ in/IN a/DT possible/JJ job/NN with/IN the/DT state/NN teacher/NN cadet/NN program/NN ./.
|
|
Last/JJ March/NNP ,/, after/IN attending/VBG a/DT teaching/NN seminar/NN in/IN Washington/NNP ,/, Mrs./NNP Yeargin/NNP says/VBZ she/PRP returned/VBD to/TO Greenville/NNP two/CD days/NNS before/IN annual/JJ testing/NN feeling/VBG that/IN she/PRP had/VBD n't/RB prepared/VBN her/PRP$ low-ability/JJ geography/NN students/NNS adequately/RB ./.
|
|
When/WRB test/NN booklets/NNS were/VBD passed/VBN out/RB 48/CD hours/NNS ahead/RB of/IN time/NN ,/, she/PRP says/VBZ she/PRP copied/VBD questions/NNS in/IN the/DT social/JJ studies/NNS section/NN and/CC gave/VBD the/DT answers/NNS to/TO students/NNS ./.
|
|
Mrs./NNP Yeargin/NNP admits/VBZ she/PRP made/VBD a/DT big/JJ mistake/NN but/CC insists/VBZ her/PRP$ motives/NNS were/VBD correct/JJ ./.
|
|
``/`` I/PRP was/VBD trying/VBG to/TO help/VB kids/NNS in/IN an/DT unfair/JJ testing/NN situation/NN ,/, ''/'' she/PRP says/VBZ ./.
|
|
``/`` Only/RB five/CD of/IN the/DT 40/CD questions/NNS were/VBD geography/NN questions/NNS ./.
|
|
The/DT rest/NN were/VBD history/NN ,/, sociology/NN ,/, finance/NN --/: subjects/NNS they/PRP never/RB had/VBD ./.
|
|
''/'' Mrs./NNP Yeargin/NNP says/VBZ that/IN she/PRP also/RB wanted/VBD to/TO help/VB lift/VB Greenville/NNP High/NNP School/NNP 's/POS overall/JJ test/NN scores/NNS ,/, usually/RB near/IN the/DT bottom/NN of/IN 14/CD district/NN high/JJ schools/NNS in/IN rankings/NNS carried/VBN annually/RB by/IN local/JJ newspapers/NNS ./.
|
|
Mostly/RB ,/, she/PRP says/VBZ ,/, she/PRP wanted/VBD to/TO prevent/VB the/DT damage/NN to/TO self-esteem/NN that/IN her/PRP$ low-ability/JJ students/NNS would/MD suffer/VB from/IN doing/VBG badly/RB on/IN the/DT test/NN ./.
|
|
``/`` These/DT kids/NNS broke/VBD my/PRP$ heart/NN ,/, ''/'' she/PRP says/VBZ ./.
|
|
``/`` A/DT whole/JJ day/NN goes/VBZ by/RB and/CC no/DT one/NN even/RB knows/VBZ they/PRP 're/VBP alive/JJ ./.
|
|
They/PRP desperately/RB needed/VBD somebody/NN who/WP showed/VBD they/PRP cared/VBD for/IN them/PRP ,/, who/WP loved/VBD them/PRP ./.
|
|
The/DT last/JJ thing/NN they/PRP needed/VBD was/VBD another/DT drag-down/JJ blow/NN ./.
|
|
''/'' School/NNP officials/NNS and/CC prosecutors/NNS say/VB Mrs./NNP Yeargin/NNP is/VBZ lying/VBG ./.
|
|
They/PRP found/VBD students/NNS in/IN an/DT advanced/JJ class/NN a/DT year/NN earlier/RB who/WP said/VBD she/PRP gave/VBD them/PRP similar/JJ help/NN ,/, although/IN because/IN the/DT case/NN was/VBD n't/RB tried/VBN in/IN court/NN ,/, this/DT evidence/NN was/VBD never/RB presented/VBN publicly/RB ./.
|
|
``/`` That/DT pretty/RB much/RB defeats/VBZ any/DT inkling/NN that/IN she/PRP was/VBD out/RP to/TO help/VB the/DT poor/JJ underprivileged/JJ child/NN ,/, ''/'' says/VBZ Joe/NNP Watson/NNP ,/, the/DT prosecutor/NN in/IN the/DT case/NN ,/, who/WP is/VBZ also/RB president/NN of/IN Greenville/NNP High/NNP School/NNP 's/POS alumni/NNS association/NN ./.
|
|
Mrs./NNP Yeargin/NNP concedes/VBZ that/IN she/PRP went/VBD over/RB the/DT questions/NNS in/IN the/DT earlier/JJR class/NN ,/, adding/VBG :/: ``/`` I/PRP wanted/VBD to/TO help/VB all/DT ''/'' students/NNS ./.
|
|
Mr./NNP Watson/NNP says/VBZ Mrs./NNP Yeargin/NNP never/RB complained/VBD to/TO school/NN officials/NNS that/IN the/DT standardized/JJ test/NN was/VBD unfair/JJ ./.
|
|
``/`` Do/VBP I/PRP have/VB much/JJ sympathy/NN for/IN her/PRP ?/. ''/'' Mr./NNP Watson/NNP asks/VBZ ./.
|
|
``/`` Not/RB really/RB ./.
|
|
I/PRP believe/VBP in/IN the/DT system/NN ./.
|
|
I/PRP believe/VBP you/PRP have/VBP to/TO use/VB the/DT system/NN to/TO change/VB it/PRP ./.
|
|
What/WP she/PRP did/VBD was/VBD like/IN taking/VBG the/DT law/NN into/IN your/PRP$ own/JJ hands/NNS ./.
|
|
''/'' Mrs./NNP Ward/NNP says/VBZ that/IN when/WRB the/DT cheating/NN was/VBD discovered/VBN ,/, she/PRP wanted/VBD to/TO avoid/VB the/DT morale-damaging/JJ public/JJ disclosure/NN that/IN a/DT trial/NN would/MD bring/VB ./.
|
|
She/PRP says/VBZ she/PRP offered/VBD Mrs./NNP Yeargin/NNP a/DT quiet/JJ resignation/NN and/CC thought/VBD she/PRP could/MD help/VB save/VB her/PRP teaching/NN certificate/NN ./.
|
|
Mrs./NNP Yeargin/NNP declined/VBD ./.
|
|
``/`` She/PRP said/VBD something/NN like/IN `/`` You/PRP just/RB want/VBP to/TO make/VB it/PRP easy/JJ for/IN the/DT school/NN ./.
|
|
'/'' I/PRP was/VBD dumbfounded/JJ ,/, ''/'' Mrs./NNP Ward/NNP recalls/VBZ ./.
|
|
``/`` It/PRP was/VBD like/IN someone/NN had/VBD turned/VBN a/DT knife/NN in/IN me/PRP ./.
|
|
''/'' To/TO the/DT astonishment/NN and/CC dismay/NN of/IN her/PRP$ superiors/NNS and/CC legal/JJ authorities/NNS --/: and/JJ perhaps/RB as/IN a/DT measure/NN of/IN the/DT unpopularity/NN of/IN standardized/JJ tests/NNS --/: Mrs/NNP ./.
|
|
Yeargin/NNP won/VBD widespread/JJ local/JJ support/NN ./.
|
|
The/DT school-board/NN hearing/NN at/IN which/WDT she/PRP was/VBD dismissed/VBN was/VBD crowded/VBN with/IN students/NNS ,/, teachers/NNS and/CC parents/NNS who/WP came/VBD to/TO testify/VB on/IN her/PRP$ behalf/NN ./.
|
|
Supportive/JJ callers/NNS decried/VBD unfair/JJ testing/NN ,/, not/RB Mrs./NNP Yeargin/NNP ,/, on/IN a/DT local/JJ radio/NN talk/NN show/NN on/IN which/WDT she/PRP appeared/VBD ./.
|
|
The/DT show/NN did/VBD n't/RB give/VB the/DT particulars/NNS of/IN Mrs./NNP Yeargin/NNP 's/POS offense/NN ,/, saying/VBG only/RB that/IN she/PRP helped/VBD students/NNS do/VB better/RBR on/IN the/DT test/NN ./.
|
|
``/`` The/DT message/NN to/TO the/DT board/NN of/IN education/NN out/IN of/IN all/PDT this/DT is/VBZ we/PRP 've/VBP got/VBN to/TO take/VB a/DT serious/JJ look/NN at/IN how/WRB we/PRP 're/VBP doing/VBG our/PRP$ curriculum/NN and/CC our/PRP$ testing/NN policies/NNS in/IN this/DT state/NN ,/, ''/'' said/VBD the/DT talk-show/NN host/NN ./.
|
|
Editorials/NNS in/IN the/DT Greenville/NNP newspaper/NN allowed/VBD that/IN Mrs./NNP Yeargin/NNP was/VBD wrong/JJ ,/, but/CC also/RB said/VBD the/DT case/NN showed/VBD how/WRB testing/NN was/VBD being/VBG overused/VBN ./.
|
|
The/DT radio/NN show/NN ``/`` enraged/VBD us/PRP ,/, ''/'' says/VBZ Mrs./NNP Ward/NNP ./.
|
|
Partly/RB because/IN of/IN the/DT show/NN ,/, Mr./NNP Watson/NNP says/VBZ ,/, the/DT district/NN decided/VBD not/RB to/TO recommend/VB Mrs./NNP Yeargin/NNP for/IN a/DT first-time/JJ offenders/NNS program/NN that/WDT could/MD have/VB expunged/VBN the/DT charges/NNS and/CC the/DT conviction/NN from/IN her/PRP$ record/NN ./.
|
|
And/CC legal/JJ authorities/NNS cranked/VBD up/RP an/DT investigation/NN worthy/JJ of/IN a/DT murder/NN case/NN ./.
|
|
Over/IN 50/CD witnesses/NNS ,/, mostly/RB students/NNS ,/, were/VBD interviewed/VBN ./.
|
|
At/IN Greenville/NNP High/NNP School/NNP ,/, meanwhile/RB ,/, some/DT students/NNS --/: especially/RB on/IN the/DT cheerleading/NN squad/NN --/: were/VBD crushed/JJ ./.
|
|
``/`` It/PRP 's/VBZ hard/JJ to/TO explain/VB to/TO a/DT 17-year-old/JJ why/WRB someone/NN they/PRP like/VBP had/VBD to/TO go/VB ,/, ''/'' says/VBZ Mrs./NNP Ward/NNP ./.
|
|
Soon/RB ,/, T-shirts/NNS appeared/VBD in/IN the/DT corridors/NNS that/WDT carried/VBD the/DT school/NN 's/POS familiar/JJ red-and-white/JJ GHS/NNP logo/NN on/IN the/DT front/NN ./.
|
|
On/IN the/DT back/NN ,/, the/DT shirts/NNS read/VBD ,/, ``/`` We/PRP have/VBP all/PDT the/DT answers/NNS ./.
|
|
''/'' Many/JJ colleagues/NNS are/VBP angry/JJ at/IN Mrs./NNP Yeargin/NNP ./.
|
|
``/`` She/PRP did/VBD a/DT lot/NN of/IN harm/NN ,/, ''/'' says/VBZ Cathryn/NNP Rice/NNP ,/, who/WP had/VBD discovered/VBN the/DT crib/NN notes/NNS ./.
|
|
``/`` We/PRP work/VBP damn/RB hard/RB at/IN what/WP we/PRP do/VBP for/IN damn/RB little/JJ pay/NN ,/, and/CC what/WP she/PRP did/VBD cast/VBN unfair/JJ aspersions/NNS on/IN all/DT of/IN us/PRP ./.
|
|
''/'' But/CC several/JJ teachers/NNS also/RB say/VBP the/DT incident/NN casts/VBZ doubt/NN on/IN the/DT wisdom/NN of/IN evaluating/VBG teachers/NNS or/CC schools/NNS by/IN using/VBG standardized/JJ test/NN scores/NNS ./.
|
|
Says/VBZ Gayle/NNP Key/NNP ,/, a/DT mathematics/NN teacher/NN ,/, ``/`` The/DT incentive/NN pay/NN thing/NN has/VBZ opened/VBN up/RP a/DT can/NN of/IN worms/NNS ./.
|
|
There/EX may/MD be/VB others/NNS doing/VBG what/WP she/PRP did/VBD ./.
|
|
''/'' Mrs./NNP Yeargin/NNP says/VBZ she/PRP pleaded/VBD guilty/JJ because/IN she/PRP realized/VBD it/PRP would/MD no/RB longer/RBR be/VB possible/JJ to/TO win/VB reinstatement/NN ,/, and/CC because/IN she/PRP was/VBD afraid/JJ of/IN further/JJ charges/NNS ./.
|
|
Mrs./NNP Ward/NNP ,/, for/IN one/CD ,/, was/VBD relieved/JJ ./.
|
|
Despite/IN the/DT strong/JJ evidence/NN against/IN Mrs./NNP Yeargin/NNP ,/, popular/JJ sentiment/NN was/VBD so/RB strong/JJ in/IN her/PRP$ favor/NN ,/, Mrs./NNP Ward/NNP says/VBZ ,/, that/IN ``/`` I/PRP 'm/VBP afraid/JJ a/DT jury/NN would/MD n't/RB have/VB convicted/VBN her/PRP ./.
|
|
''/'' Since/IN chalk/NN first/RB touched/VBD slate/NN ,/, schoolchildren/NN have/VBP wanted/VBN to/TO know/VB :/: What/WP 's/VBZ on/IN the/DT test/NN ?/. These/DT days/NNS ,/, students/NNS can/MD often/RB find/VB the/DT answer/NN in/IN test-coaching/JJ workbooks/NNS and/CC worksheets/NNS their/PRP$ teachers/NNS give/VBP them/PRP in/IN the/DT weeks/NNS prior/RB to/TO taking/VBG standardized/JJ achievement/NN tests/NNS ./.
|
|
The/DT mathematics/NN section/NN of/IN the/DT widely/RB used/JJ California/NNP Achievement/NNP Test/NNP asks/VBZ fifth/JJ graders/NNS :/: ``/`` What/WP is/VBZ another/DT name/NN for/IN the/DT Roman/JJ numeral/NN IX/CD ?/. ''/'' It/PRP also/RB asks/VBZ them/PRP to/TO add/VB two-sevenths/NNS and/CC three-sevenths/NNS ./.
|
|
Worksheets/NNS in/IN a/DT test-practice/JJ kit/NN called/VBN Learning/NNP Materials/NNPS ,/, sold/VBN to/TO schools/NNS across/IN the/DT country/NN by/IN Macmillan&slash;McGraw-Hill/NNP School/NNP Publishing/NNP Co./NNP ,/, contain/VBP the/DT same/JJ questions/NNS ./.
|
|
In/IN many/JJ other/JJ instances/NNS ,/, there/EX is/VBZ almost/RB no/DT difference/NN between/IN the/DT real/JJ test/NN and/CC Learning/NNP Materials/NNPS ./.
|
|
What/WP 's/VBZ more/JJR ,/, the/DT test/NN and/CC Learning/NNP Materials/NNPS are/VBP both/DT produced/VBN by/IN the/DT same/JJ company/NN ,/, Macmillan&slash;McGraw-Hill/NNP ,/, a/DT joint/JJ venture/NN of/IN McGraw-Hill/NNP Inc./NNP and/CC Macmillan/NNP 's/POS parent/NN ,/, Britain/NNP 's/POS Maxwell/NNP Communication/NNP Corp/NNP ./.
|
|
Close/JJ parallels/NNS between/IN tests/NNS and/CC practice/NN tests/NNS are/VBP common/JJ ,/, some/DT educators/NNS and/CC researchers/NNS say/VBP ./.
|
|
Test-preparation/JJ booklets/NNS ,/, software/NN and/CC worksheets/NNS are/VBP a/DT booming/VBG publishing/VBG subindustry/NN ./.
|
|
But/CC some/DT practice/NN products/NNS are/VBP so/RB similar/JJ to/TO the/DT tests/NNS themselves/PRP that/IN critics/NNS say/VBP they/PRP represent/VBP a/DT form/NN of/IN school-sponsored/JJ cheating/NN ./.
|
|
``/`` If/IN I/PRP took/VBD {/( these/DT preparation/NN booklets/NNS }/) into/IN my/PRP$ classroom/NN ,/, I/PRP 'd/MD have/VB a/DT hard/JJ time/NN justifying/VBG to/TO my/PRP$ students/NNS and/CC parents/NNS that/IN it/PRP was/VBD n't/RB cheating/NN ,/, ''/'' says/VBZ John/NNP Kaminski/NNP ,/, a/DT Traverse/NNP City/NNP ,/, Mich./NNP ,/, teacher/NN who/WP has/VBZ studied/VBN test/NN coaching/NN ./.
|
|
He/PRP and/CC other/JJ critics/NNS say/VBP such/JJ coaching/NN aids/NNS can/MD defeat/VB the/DT purpose/NN of/IN standardized/JJ tests/NNS ,/, which/WDT is/VBZ to/TO gauge/VB learning/NN progress/NN ./.
|
|
``/`` It/PRP 's/VBZ as/IN if/IN France/NNP decided/VBD to/TO give/VB only/JJ French/JJ history/NN questions/NNS to/TO students/NNS in/IN a/DT European/JJ history/NN class/NN ,/, and/CC when/WRB everybody/NN aces/VBZ the/DT test/NN ,/, they/PRP say/VBP their/PRP$ kids/NNS are/VBP good/JJ in/IN European/JJ history/NN ,/, ''/'' says/VBZ John/NNP Cannell/NNP ,/, an/DT Albuquerque/NNP ,/, N.M./NNP ,/, psychiatrist/NN and/CC founder/NN of/IN an/DT educational/JJ research/NN organization/NN ,/, Friends/NNPS for/IN Education/NNP ,/, which/WDT has/VBZ studied/VBN standardized/JJ testing/NN ./.
|
|
Standardized/JJ achievement/NN tests/NNS are/VBP given/VBN about/IN 10/CD million/CD times/NNS a/DT year/NN across/IN the/DT country/NN to/TO students/NNS generally/RB from/IN kindergarten/NN through/IN eighth/JJ grade/NN ./.
|
|
The/DT most/RBS widely/RB used/JJ of/IN these/DT tests/NNS are/VBP Macmillan&slash;McGraw/NNP 's/POS CAT/NNP and/CC Comprehensive/NNP Test/NN of/IN Basic/JJ Skills/NNS ;/: the/DT Iowa/NNP Test/NN of/IN Basic/JJ Skills/NNS ,/, by/IN Houghton/NNP Mifflin/NNP Co./NNP ;/: and/CC Harcourt/NNP Brace/NNP Jovanovich/NNP Inc./NNP 's/POS Metropolitan/NNP Achievement/NNP Test/NNP and/CC Stanford/NNP Achievement/NNP Test/NNP ./.
|
|
Sales/NNS figures/NNS of/IN the/DT test-prep/JJ materials/NNS are/VBP n't/RB known/JJ ,/, but/CC their/PRP$ reach/NN into/IN schools/NNS is/VBZ significant/JJ ./.
|
|
In/IN Arizona/NNP ,/, California/NNP ,/, Florida/NNP ,/, Louisiana/NNP ,/, Maryland/NNP ,/, New/NNP Jersey/NNP ,/, South/NNP Carolina/NNP and/CC Texas/NNP ,/, educators/NNS say/VBP they/PRP are/VBP common/JJ classroom/NN tools/NNS ./.
|
|
Macmillan&slash;McGraw/NN says/VBZ ``/`` well/RB over/IN 10/CD million/CD ''/'' of/IN its/PRP$ Scoring/NNP High/NNP test-preparation/JJ books/NNS have/VBP been/VBN sold/VBN since/IN their/PRP$ introduction/NN 10/CD years/NNS ago/RB ,/, with/IN most/JJS sales/NNS in/IN the/DT last/JJ five/CD years/NNS ./.
|
|
About/IN 20,000/CD sets/NNS of/IN Learning/NNP Materials/NNPS teachers/NNS '/POS binders/NNS have/VBP also/RB been/VBN sold/VBN in/IN the/DT past/JJ four/CD years/NNS ./.
|
|
The/DT materials/NNS in/IN each/DT set/NN reach/VBP about/IN 90/CD students/NNS ./.
|
|
Scoring/NNP High/NNP and/CC Learning/NNP Materials/NNPS are/VBP the/DT best-selling/JJS preparation/NN tests/NNS ./.
|
|
Michael/NNP Kean/NNP ,/, director/NN of/IN marketing/NN for/IN CTB/NNP Macmillan&slash;McGraw/NNP ,/, the/DT Macmillan&slash;McGraw/NNP division/NN that/WDT publishes/VBZ Learning/NNP Materials/NNPS ,/, says/VBZ it/PRP is/VBZ n't/RB aimed/VBN at/IN improving/VBG test/NN scores/NNS ./.
|
|
He/PRP also/RB asserted/VBD that/IN exact/JJ questions/NNS were/VBD n't/RB replicated/VBN ./.
|
|
When/WRB referred/VBN to/TO the/DT questions/NNS that/WDT matched/VBN ,/, he/PRP said/VBD it/PRP was/VBD coincidental/JJ ./.
|
|
Mr./NNP Kaminski/NNP ,/, the/DT schoolteacher/NN ,/, and/CC William/NNP Mehrens/NNP ,/, a/DT Michigan/NNP State/NNP University/NNP education/NN professor/NN ,/, concluded/VBD in/IN a/DT study/NN last/JJ June/NNP that/IN CAT/NNP test/NN versions/NNS of/IN Scoring/NNP High/NNP and/CC Learning/NNP Materials/NNPS should/MD n't/RB be/VB used/VBN in/IN the/DT classroom/NN because/IN of/IN their/PRP$ similarity/NN to/TO the/DT actual/JJ test/NN ./.
|
|
They/PRP devised/VBD a/DT 69-point/JJ scale/NN --/: awarding/VBG one/CD point/NN for/IN each/DT subskill/NN measured/VBN on/IN the/DT CAT/NNP test/NN --/: to/TO rate/VB the/DT closeness/NN of/IN test/NN preparatives/NNS to/TO the/DT fifth-grade/NN CAT/NNP ./.
|
|
Because/IN many/JJ of/IN these/DT subskills/NNS --/: the/JJ symmetry/NN of/IN geometrical/JJ figures/NNS ,/, metric/JJ measurement/NN of/IN volume/NN ,/, or/CC pie/NN and/CC bar/NN graphs/NNS ,/, for/IN example/NN --/: are/NN only/RB a/DT small/JJ part/NN of/IN the/DT total/JJ fifth-grade/NN curriculum/NN ,/, Mr./NNP Kaminski/NNP says/VBZ ,/, the/DT preparation/NN kits/NNS would/MD n't/RB replicate/VB too/RB many/JJ ,/, if/IN their/PRP$ real/JJ intent/NN was/VBD general/JJ instruction/NN or/CC even/RB general/JJ familiarization/NN with/IN test/NN procedures/NNS ./.
|
|
But/CC Learning/NNP Materials/NNPS matched/VBD on/IN 66.5/CD of/IN 69/CD subskills/NNS ./.
|
|
Scoring/NNP High/NNP matched/VBD on/IN 64.5/CD ./.
|
|
In/IN CAT/NNP sections/NNS where/WRB students/NNS '/POS knowledge/NN of/IN two-letter/JJ consonant/JJ sounds/NNS is/VBZ tested/VBN ,/, the/DT authors/NNS noted/VBD that/IN Scoring/NNP High/NNP concentrated/VBD on/IN the/DT same/JJ sounds/NNS that/IN the/DT test/NN does/VBZ --/: to/IN the/DT exclusion/NN of/IN other/JJ sounds/NNS that/IN fifth/JJ graders/NNS should/MD know/VB ./.
|
|
Learning/NNP Materials/NNPS for/IN the/DT fifth-grade/NN contains/VBZ at/IN least/JJS a/DT dozen/NN examples/NNS of/IN exact/JJ matches/NNS or/CC close/JJ parallels/NNS to/TO test/NN items/NNS ./.
|
|
Rick/NNP Brownell/NNP ,/, senior/JJ editor/NN of/IN Scoring/NNP High/NNP ,/, says/VBZ that/IN Messrs./NNPS Kaminski/NNP and/CC Mehrens/NNP are/VBP ignoring/VBG ``/`` the/DT need/NN students/NNS have/VBP for/IN becoming/VBG familiar/JJ with/IN tests/NNS and/CC testing/NN format/NN ./.
|
|
''/'' He/PRP said/VBD authors/NNS of/IN Scoring/NNP High/NNP ``/`` scrupulously/RB avoid/VBP ''/'' replicating/VBG exact/JJ questions/NNS ,/, but/CC he/PRP does/VBZ n't/RB deny/VB that/IN some/DT items/NNS are/VBP similar/JJ ./.
|
|
When/WRB Scoring/NNP High/NNP first/RB came/VBD out/RB in/IN 1979/CD ,/, it/PRP was/VBD a/DT publication/NN of/IN Random/NNP House/NNP ./.
|
|
McGraw-Hill/NNP was/VBD outraged/JJ ./.
|
|
In/IN a/DT 1985/CD advisory/NN to/TO educators/NNS ,/, McGraw-Hill/NNP said/VBD Scoring/NNP High/NNP should/MD n't/RB be/VB used/VBN because/IN it/PRP represented/VBD a/DT ``/`` parallel/JJ form/NN ''/'' of/IN the/DT CAT/NNP and/CC CTBS/NNP tests/NNS ./.
|
|
But/CC in/IN 1988/CD ,/, McGraw-Hill/NNP purchased/VBD the/DT Random/NNP House/NNP unit/NN that/WDT publishes/VBZ Scoring/NNP High/NNP ,/, which/WDT later/RBR became/VBD part/NN of/IN Macmillan&slash;McGraw/NNP ./.
|
|
Messrs./NNPS Brownell/NNP and/CC Kean/NNP say/VBP they/PRP are/VBP unaware/JJ of/IN any/DT efforts/NNS by/IN McGraw-Hill/NNP to/TO modify/VB or/CC discontinue/VB Scoring/NNP High/NNP ./. Alleghany/NNP Corp./NNP said/VBD it/PRP completed/VBD the/DT acquisition/NN of/IN Sacramento/NNP Savings/NNPS &/CC Loan/NNP Association/NNP from/IN the/DT H.N./NNP &/CC Frances/NNP C./NNP Berger/NNP Foundation/NNP for/IN $/$ 150/CD million/CD ./.
|
|
The/DT Sacramento-based/JJ S&L/NN ,/, which/WDT has/VBZ 44/CD branch/NN offices/NNS in/IN north/JJ central/JJ California/NNP ,/, had/VBD assets/NNS of/IN $/$ 2.4/CD billion/CD at/IN the/DT end/NN of/IN September/NNP ./.
|
|
New/NNP York-based/JJ Alleghany/NNP is/VBZ an/DT insurance/NN and/CC financial/JJ services/NNS concern/NN ./.
|
|
The/DT purchase/NN price/NN includes/VBZ two/CD ancillary/JJ companies/NNS ./. The/DT Department/NNP of/IN Health/NNP and/CC Human/NNP Services/NNPS plans/VBZ to/TO extend/VB its/PRP$ moratorium/NN on/IN federal/JJ funding/NN of/IN research/NN involving/VBG fetal-tissue/JJ transplants/NNS ./.
|
|
Medical/JJ researchers/NNS believe/VBP the/DT transplantation/NN of/IN small/JJ amounts/NNS of/IN fetal/JJ tissue/NN into/IN humans/NNS could/MD help/VB treat/VB juvenile/JJ diabetes/NN and/CC such/JJ degenerative/JJ diseases/NNS as/IN Alzheimer/NNP 's/POS ,/, Parkinson/NNP 's/POS and/CC Huntington/NNP 's/POS ./.
|
|
But/CC anti-abortionists/NNS oppose/VBP such/JJ research/NN because/IN they/PRP worry/VBP that/IN the/DT development/NN of/IN therapies/NNS using/VBG fetal-tissue/JJ transplants/NNS could/MD lead/VB to/TO an/DT increase/NN in/IN abortions/NNS ./.
|
|
James/NNP Mason/NNP ,/, assistant/NN secretary/NN for/IN health/NN ,/, said/VBD the/DT ban/NN on/IN federal/JJ funding/NN of/IN fetal-tissue/JJ transplant/NN research/NN ``/`` should/MD be/VB continued/VBN indefinitely/RB ./.
|
|
''/'' He/PRP said/VBD the/DT ban/NN wo/MD n't/RB stop/VB privately/RB funded/VBN tissue-transplant/JJ research/NN or/CC federally/RB funded/VBN fetal-tissue/JJ research/NN that/WDT does/VBZ n't/RB involve/VB transplants/NNS ./.
|
|
Department/NN officials/NNS say/VBP that/IN HHS/NNP Secretary/NNP Louis/NNP Sullivan/NNP will/MD support/VB Dr./NNP Mason/NNP 's/POS ruling/NN ,/, which/WDT will/MD be/VB issued/VBN soon/RB in/IN the/DT form/NN of/IN a/DT letter/NN to/TO the/DT acting/JJ director/NN of/IN the/DT National/NNP Institutes/NNPS of/IN Health/NNP ./.
|
|
Both/DT Dr./NNP Mason/NNP and/CC Dr./NNP Sullivan/NNP oppose/VBP federal/JJ funding/NN for/IN abortion/NN ,/, as/IN does/VBZ President/NNP Bush/NNP ,/, except/IN in/IN cases/NNS where/WRB a/DT woman/NN 's/POS life/NN is/VBZ threatened/VBN ./.
|
|
The/DT controversy/NN began/VBD in/IN 1987/CD when/WRB the/DT National/NNP Institutes/NNPS of/IN Health/NNP ,/, aware/JJ of/IN the/DT policy/NN implications/NNS of/IN its/PRP$ research/NN ,/, asked/VBD for/IN an/DT HHS/NNP review/NN of/IN its/PRP$ plan/NN to/TO implant/VB fetal/JJ tissue/NN into/IN the/DT brain/NN of/IN a/DT patient/NN suffering/NN from/IN Parkinson/NNPS 's/POS disease/NN ./.
|
|
The/DT department/NN placed/VBD a/DT moratorium/NN on/IN the/DT research/NN ,/, pending/VBG a/DT review/NN of/IN scientific/JJ ,/, legal/JJ and/CC ethical/JJ issues/NNS ./.
|
|
A/DT majority/NN of/IN an/DT NIH-appointed/JJ panel/NN recommended/VBD late/RB last/JJ year/NN that/IN the/DT research/NN continue/VB under/IN carefully/RB controlled/JJ conditions/NNS ,/, but/CC the/DT issue/NN became/VBD embroiled/VBN in/IN politics/NNS as/IN anti-abortion/JJ groups/NNS continued/VBD to/TO oppose/VB federal/JJ funding/NN ./.
|
|
The/DT dispute/NN has/VBZ hampered/VBN the/DT administration/NN 's/POS efforts/NNS to/TO recruit/VB prominent/JJ doctors/NNS to/TO fill/VB prestigious/JJ posts/NNS at/IN the/DT helm/NN of/IN the/DT NIH/NNP and/CC the/DT Centers/NNPS for/IN Disease/NNP Control/NNP ./.
|
|
Several/JJ candidates/NNS have/VBP withdrawn/VBN their/PRP$ names/NNS from/IN consideration/NN after/IN administration/NN officials/NNS asked/VBD them/PRP for/IN their/PRP$ views/NNS on/IN abortion/NN and/CC fetal-tissue/JJ transplants/NNS ./.
|
|
Antonio/NNP Novello/NNP ,/, whom/WP Mr./NNP Bush/NNP nominated/VBD to/TO serve/VB as/IN surgeon/NN general/NN ,/, reportedly/RB has/VBZ assured/VBN the/DT administration/NN that/IN she/PRP opposes/VBZ abortion/NN ./.
|
|
Dr./NNP Novello/NNP is/VBZ deputy/NN director/NN of/IN the/DT National/NNP Institute/NNP of/IN Child/NNP Health/NNP and/CC Human/NNP Development/NNP ./.
|
|
Some/DT researchers/NNS have/VBP charged/VBN that/IN the/DT administration/NN is/VBZ imposing/VBG new/JJ ideological/JJ tests/NNS for/IN top/JJ scientific/JJ posts/NNS ./.
|
|
Earlier/JJR this/DT week/NN ,/, Dr./NNP Sullivan/NNP tried/VBD to/TO defuse/VB these/DT charges/NNS by/IN stressing/VBG that/IN candidates/NNS to/TO head/VB the/DT NIH/NNP and/CC the/DT CDC/NNP will/MD be/VB judged/VBN by/IN ``/`` standards/NNS of/IN scientific/JJ and/CC administrative/JJ excellence/NN ,/, ''/'' not/RB politics/NNS ./.
|
|
But/CC the/DT administration/NN 's/POS handling/NN of/IN the/DT fetal-tissue/JJ transplant/NN issue/NN disturbs/VBZ many/JJ scientists/NNS ./.
|
|
``/`` When/WRB scientific/JJ progress/NN moves/VBZ into/IN uncharted/JJ ground/NN ,/, there/EX has/VBZ to/TO be/VB a/DT role/NN for/IN society/NN to/TO make/VB judgments/NNS about/IN its/PRP$ applications/NNS ,/, ''/'' says/VBZ Myron/NNP Genel/NNP ,/, associate/NN dean/NN of/IN the/DT Yale/NNP Medical/NNP School/NNP ./.
|
|
``/`` The/DT disturbing/JJ thing/NN about/IN this/DT abortion/NN issue/NN is/VBZ that/IN the/DT debate/NN has/VBZ become/VBN polarized/VBN ,/, so/IN that/IN no/DT mechanism/NN exists/VBZ ''/'' for/IN finding/VBG a/DT middle/JJ ground/NN ./.
|
|
Yale/NNP is/VBZ one/CD of/IN the/DT few/JJ medical/JJ institutions/NNS conducting/VBG privately/RB funded/JJ research/NN on/IN fetal-tissue/JJ transplants/NNS ./.
|
|
But/CC Dr./NNP Genel/NNP warns/VBZ that/IN Dr./NNP Mason/NNP 's/POS ruling/NN may/MD discourage/VB private/JJ funding/NN ./.
|
|
``/`` The/DT unavailability/NN of/IN federal/JJ funds/NNS ,/, and/CC the/DT climate/NN in/IN which/WDT the/DT decision/NN was/VBD made/VBN ,/, certainly/RB do/VBP n't/RB provide/VB any/DT incentive/NN for/IN one/CD of/IN the/DT more/RBR visible/JJ foundations/NNS to/TO provide/VB support/NN ,/, ''/'' he/PRP said/VBD ./.
|
|
Despite/IN the/DT flap/NN over/IN transplants/NNS ,/, federal/JJ funding/NN of/IN research/NN involving/VBG fetal/JJ tissues/NNS will/MD continue/VB on/IN a/DT number/NN of/IN fronts/NNS ./.
|
|
``/`` Such/JJ research/NN may/MD ultimately/RB result/VB in/IN the/DT ability/NN to/TO regenerate/VB damaged/JJ tissues/NNS or/CC to/TO turn/VB off/RP genes/NNS that/WDT cause/VBP cancer/NN ''/'' or/CC to/TO regulate/VB genes/NNS that/WDT cause/VBP Down/NNP 's/POS syndrome/NN ,/, the/DT leading/VBG cause/NN of/IN mental/JJ retardation/NN ,/, according/VBG to/TO an/DT NIH/NNP summary/NN ./.
|
|
The/DT NIH/NNP currently/RB spends/VBZ about/IN $/$ 8/CD million/CD annually/RB on/IN fetal-tissue/JJ research/NN out/IN of/IN a/DT total/JJ research/NN budget/NN of/IN $/$ 8/CD billion/CD ./. Rekindled/VBN hope/NN that/IN two/CD New/NNP England/NNP states/NNS will/MD allow/VB broader/JJR interstate/JJ banking/NN boosted/VBD Nasdaq/NNP 's/POS bank/NN stocks/NNS ,/, but/CC the/DT over-the-counter/JJ market/NN was/VBD up/RB only/RB slightly/RB in/IN lackluster/JJ trading/NN ./.
|
|
The/DT Nasdaq/NNP composite/JJ index/NN added/VBD 1.01/CD to/TO 456.64/CD on/IN paltry/JJ volume/NN of/IN 118.6/CD million/CD shares/NNS ./.
|
|
In/IN terms/NNS of/IN volume/NN ,/, it/PRP was/VBD an/DT inauspicious/JJ beginning/NN for/IN November/NNP ./.
|
|
Yesterday/NN 's/POS share/NN turnover/NN was/VBD well/RB below/IN the/DT year/NN 's/POS daily/JJ average/NN of/IN 133.8/CD million/CD ./.
|
|
In/IN October/NNP ,/, the/DT busiest/JJS month/NN of/IN the/DT year/NN so/RB far/JJ ,/, daily/JJ volume/NN averaged/VBD roughly/RB 145/CD million/CD shares/NNS ./.
|
|
The/DT Nasdaq/NNP 100/CD index/NN of/IN the/DT biggest/JJS nonfinancial/JJ stocks/NNS gained/VBD 1.39/CD to/TO 446.62/CD ./.
|
|
The/DT index/NN of/IN the/DT 100/CD largest/JJS Nasdaq/NNP financial/JJ stocks/NNS rose/VBD modestly/RB as/IN well/RB ,/, gaining/VBG 1.28/CD to/TO 449.04/CD ./.
|
|
But/CC the/DT broader/JJR Nasdaq/NNP bank/NN index/NN ,/, which/WDT tracks/VBZ thrift/NN issues/NNS ,/, jumped/VBD 3.23/CD to/TO 436.01/CD ./.
|
|
The/DT bank/NN stocks/NNS got/VBD a/DT boost/NN when/WRB Connecticut/NNP Bank/NNP &/CC Trust/NNP and/CC Bank/NNP of/IN New/NNP England/NNP said/VBD they/PRP no/RB longer/RB oppose/VBP pending/VBG legislation/NN that/WDT would/MD permit/VB banks/NNS from/IN other/JJ regions/NNS to/TO merge/VB with/IN Connecticut/NNP and/CC Massachusetts/NNP banks/NNS ./.
|
|
The/DT two/CD banks/NNS merged/VBD in/IN 1985/CD ./.
|
|
Bank/NNP of/IN New/NNP England/NNP 's/POS shares/NNS are/VBP traded/VBN on/IN the/DT New/NNP York/NNP Stock/NNP Exchange/NNP ./.
|
|
The/DT stocks/NNS of/IN banking/VBG concerns/NNS based/VBN in/IN Massachusetts/NNP were/VBD n't/RB helped/VBN much/RB by/IN the/DT announcement/NN ,/, traders/NNS said/VBD ,/, because/IN many/JJ of/IN those/DT concerns/NNS have/VBP financial/JJ problems/NNS tied/VBN to/TO their/PRP$ real-estate/NN loan/NN portfolios/NNS ,/, making/VBG them/PRP unattractive/JJ takeover/NN targets/NNS ./.
|
|
But/CC speculators/NNS ,/, anticipating/VBG that/IN Connecticut/NNP will/MD approve/VB a/DT law/NN permitting/VBG such/JJ interstate/JJ banking/NN soon/RB ,/, immediately/RB bid/VBD up/RP shares/NNS of/IN Connecticut/NNP banks/NNS on/IN the/DT news/NN ./.
|
|
``/`` A/DT lot/NN of/IN the/DT stocks/NNS that/WDT have/VBP been/VBN under/IN water/NN finally/RB saw/VBD a/DT reason/NN to/TO uptick/VB ,/, ''/'' said/VBD George/NNP Jennison/NNP ,/, head/JJ trader/NN of/IN banking/NN issues/NNS in/IN Shearson/NNP Lehman/NNP Hutton/NNP 's/POS OTC/NNP department/NN ./.
|
|
The/DT biggest/JJS beneficiary/NN was/VBD Northeast/NNP Bancorp/NNP ,/, which/WDT surged/VBD 7/CD 3&slash;4/CD to/TO 69/CD ./.
|
|
The/DT Stamford/NNP ,/, Conn./NNP ,/, concern/NN has/VBZ agreed/VBN to/TO a/DT buy-out/NN by/IN Bank/NNP of/IN New/NNP York/NNP in/IN a/DT transaction/NN with/IN an/DT indicated/VBN value/NN of/IN about/IN $/$ 100/CD a/DT share/NN that/WDT expires/VBZ next/JJ August/NNP ./.
|
|
Ed/NNP Macheski/NNP ,/, a/DT Wilton/NNP ,/, Conn./NNP ,/, money/NN manager/NN who/WP follows/VBZ bank/NN stocks/NNS ,/, said/VBD the/DT announcement/NN effectively/RB gives/VBZ the/DT deal/NN ``/`` the/DT green/JJ light/NN ./.
|
|
''/'' Mr./NNP Jennison/NNP said/VBD Northeast/NNP Bancorp/NNP also/RB fared/VBD well/RB because/IN takeover/NN stocks/NNS have/VBP returned/VBN to/TO favor/VB among/IN investors/NNS ./.
|
|
Another/DT OTC/NNP bank/NN stock/NN involved/VBN in/IN a/DT buy-out/NN deal/NN ,/, First/NNP Constitution/NNP Financial/NNP ,/, was/VBD higher/JJR ./.
|
|
It/PRP rose/VBD 7&slash;8/CD to/TO 18/CD 1&slash;4/CD ./.
|
|
First/NNP Constitution/NNP has/VBZ signed/VBN a/DT merger/NN agreement/NN with/IN WFRR/NNP L.P./NNP and/CC GHKM/NNP Corp./NNP ,/, under/IN which/WDT all/DT of/IN its/PRP$ common/JJ shares/NNS will/MD be/VB acquired/VBN for/IN $/$ 25/CD each/DT ,/, or/CC $/$ 273.5/CD million/CD ./.
|
|
Among/IN other/JJ Connecticut/NNP banks/NNS whose/WP$ shares/NNS trade/VBP in/IN the/DT OTC/NNP market/NN ,/, Society/NNP for/IN Savings/NNPS Bancorp/NNP ,/, based/VBN in/IN Hartford/NNP ,/, saw/VBD its/PRP$ stock/NN rise/VB 1/CD 3&slash;4/CD to/TO 18/CD 1&slash;4/CD ./.
|
|
Centerbank/NNP added/VBD 5&slash;8/CD to/TO 8/CD 3&slash;4/CD ;/: shares/NNS of/IN NESB/NNP ,/, a/DT New/NNP London-based/JJ bank/NN holding/VBG company/NN ,/, rose/VBD 5&slash;8/CD to/TO 5/CD 7&slash;8/CD ./.
|
|
Among/IN other/JJ banking/NN issues/NNS ,/, Pennview/NNP Savings/NNPS Association/NNP leapt/VBD more/JJR than/IN 44/CD %/NN with/IN a/DT gain/NN of/IN 6/CD 5&slash;8/CD to/TO 21/CD 5&slash;8/CD ./.
|
|
The/DT Pennsylvania/NNP bank/NN agreed/VBD to/TO be/VB acquired/VBN in/IN a/DT merger/NN with/IN Univest/NNP Corp./NNP of/IN Pennsylvania/NNP for/IN $/$ 25.50/CD a/DT share/NN ./.
|
|
Valley/NNP Federal/NNP Savings/NNPS &/CC Loan/NNP ,/, a/DT California/NNP thrift/NN issue/NN ,/, gained/VBD 1/CD to/TO 4/CD 1&slash;4/CD after/IN reporting/VBG a/DT third-quarter/JJ loss/NN of/IN $/$ 70.7/CD million/CD after/IN an/DT $/$ 89.9/CD million/CD pretax/JJ charge/NN mostly/RB related/JJ to/TO its/PRP$ mobile/JJ home/NN financing/VBG unit/NN ./.
|
|
Dan/NNP E./NNP Nelms/NNP ,/, Valley/NNP Federal/NNP 's/POS president/NN and/CC chief/JJ executive/NN officer/NN ,/, said/VBD the/DT one-time/JJ charge/NN substantially/RB eliminates/VBZ future/JJ losses/NNS associated/VBN with/IN the/DT unit/NN ./.
|
|
He/PRP said/VBD the/DT company/NN 's/POS core/NN business/NN remains/VBZ strong/JJ ./.
|
|
He/PRP also/RB said/VBD that/IN after/IN the/DT charges/NNS ,/, and/CC ``/`` assuming/VBG no/DT dramatic/JJ fluctuation/NN in/IN interest/NN rates/NNS ,/, the/DT company/NN expects/VBZ to/TO achieve/VB near-record/JJ earnings/NNS in/IN 1990/CD ./.
|
|
''/'' Weisfield/NNP 's/POS surged/VBD 6/CD 3&slash;4/CD to/TO 55/CD 1&slash;2/CD and/CC Ratners/NNP Group/NNP 's/POS American/JJ depositary/NN receipts/NNS ,/, or/CC ADRs/NNS ,/, gained/VBD 5&slash;8/CD to/TO 12/CD 1&slash;4/CD ./.
|
|
The/DT two/CD concerns/NNS said/VBD they/PRP entered/VBD into/IN a/DT definitive/JJ merger/NN agreement/NN under/IN which/WDT Ratners/NNP will/MD begin/VB a/DT tender/NN offer/NN for/IN all/DT of/IN Weisfield/NNP 's/POS common/JJ shares/NNS for/IN $/$ 57.50/CD each/DT ./.
|
|
Also/RB on/IN the/DT takeover/NN front/NN ,/, Jaguar/NNP 's/POS ADRs/NNPS rose/VBD 1&slash;4/CD to/TO 13/CD 7&slash;8/CD on/IN turnover/NN of/IN 4.4/CD million/CD ./.
|
|
Since/IN the/DT British/JJ auto/NN maker/NN became/VBD a/DT takeover/NN target/NN last/JJ month/NN ,/, its/PRP$ ADRs/NNS have/VBP jumped/VBN about/IN 78/CD %/NN ./.
|
|
After/IN troubled/JJ Heritage/NNP Media/NNP proposed/VBD acquiring/VBG POP/NNP Radio/NNP in/IN a/DT stock/NN swap/NN ,/, POP/NNP Radio/NNP 's/POS shares/NNS tumbled/VBD 4/CD to/TO 14/CD 3&slash;4/CD ./.
|
|
Heritage/NNP Media/NNP ,/, which/WDT already/RB owns/VBZ about/IN 51/CD %/NN of/IN POP/NNP Radio/NNP ,/, proposed/VBD paying/VBG POP/NNP Radio/NNP shareholders/NNS with/IN shares/NNS of/IN a/DT new/JJ class/NN of/IN Heritage/NNP Media/NNP preferred/JJ stock/NN that/WDT would/MD be/VB convertible/JJ into/IN four/CD shares/NNS of/IN Heritage/NNP Media/NNP 's/POS common/NN ./.
|
|
Rally/NNP 's/POS lost/VBN 1/CD 3&slash;4/CD to/TO 21/CD 3&slash;4/CD ./.
|
|
The/DT restaurant/NN operator/NN said/VBD it/PRP has/VBZ redeemed/VBN its/PRP$ rights/NNS issued/VBN Monday/NNP under/IN its/PRP$ shareholder/NN rights/NNS plan/NN ./.
|
|
The/DT fast-food/NN company/NN said/VBD its/PRP$ decision/NN was/VBD based/VBN on/IN discussions/NNS with/IN a/DT shareholder/NN group/NN ,/, Giant/NNP Group/NNP Ltd./NNP ,/, ``/`` in/IN an/DT effort/NN to/TO resolve/VB certain/JJ disputes/NNS with/IN the/DT company/NN ./.
|
|
''/'' Giant/NNP Group/NNP is/VBZ led/VBN by/IN three/CD Rally/NNP 's/POS directors/NNS ,/, Burt/NNP Sugarman/NNP ,/, James/NNP M./NNP Trotter/NNP III/NNP and/CC William/NNP E./NNP Trotter/NNP II/NNP ,/, who/WP earlier/RB this/DT month/NN indicated/VBD they/PRP had/VBD a/DT 42.5/CD %/NN stake/NN in/IN Rally/NNP 's/POS and/CC planned/VBD to/TO seek/VB a/DT majority/NN of/IN seats/NNS on/IN Rally/NNP 's/POS nine-member/JJ board/NN ./.
|
|
SCI/NNP Systems/NNP slipped/VBD 7&slash;8/CD to/TO 10/CD on/IN volume/NN of/IN 858,000/CD shares/NNS ./.
|
|
The/DT Huntsville/NNP ,/, Ala./NNP ,/, electronic/JJ products/NNS maker/NN said/VBD it/PRP expects/VBZ to/TO post/VB a/DT ``/`` significant/JJ ''/'' loss/NN for/IN its/PRP$ fiscal/JJ first/JJ quarter/NN ended/VBN Sept./NNP 30/CD ./.
|
|
In/IN the/DT year-earlier/JJ period/NN ,/, SCI/NNP had/VBD net/JJ income/NN of/IN $/$ 4.8/CD million/CD ,/, or/CC 23/CD cents/NNS a/DT share/NN ,/, on/IN revenue/NN of/IN $/$ 225.6/CD million/CD ./. The/DT Internal/NNP Revenue/NNP Service/NNP has/VBZ threatened/VBN criminal/JJ sanctions/NNS against/IN lawyers/NNS who/WP fail/VBP to/TO report/VB detailed/JJ information/NN about/IN clients/NNS who/WP pay/VBP them/PRP more/JJR than/IN $/$ 10,000/CD in/IN cash/NN ./.
|
|
The/DT warnings/NNS ,/, issued/VBN to/TO at/IN least/JJS 100/CD criminal/NN defense/NN attorneys/NNS in/IN several/JJ major/JJ cities/NNS in/IN the/DT last/JJ week/NN ,/, have/VBP led/VBN to/TO an/DT outcry/NN by/IN members/NNS of/IN the/DT organized/JJ bar/NN ,/, who/WP claim/VBP the/DT information/NN is/VBZ protected/VBN by/IN attorney-client/JJ privilege/NN ./.
|
|
The/DT IRS/NNP warnings/NNS stem/VBP from/IN a/DT 1984/CD law/NN that/WDT requires/VBZ anyone/NN who/WP receives/VBZ more/JJR than/IN $/$ 10,000/CD in/IN cash/NN from/IN a/DT client/NN or/CC customer/NN in/IN one/CD or/CC more/JJR related/JJ transactions/NNS ``/`` in/IN the/DT course/NN of/IN trade/NN or/CC business/NN ''/'' to/TO report/VB the/DT payment/NN on/IN a/DT document/NN known/VBN as/IN Form/NN 8300/CD ./.
|
|
The/DT form/NN asks/VBZ for/IN such/JJ details/NNS as/IN the/DT client/NN 's/POS name/NN ,/, Social/NNP Security/NNP number/NN ,/, passport/NN number/NN and/CC details/NNS about/IN the/DT services/NNS provided/VBN for/IN the/DT payment/NN ./.
|
|
Failure/NN to/TO complete/VB the/DT form/NN had/VBD been/VBN punishable/JJ as/IN a/DT misdemeanor/NN until/IN last/JJ November/NNP ,/, when/WRB Congress/NNP determined/VBD that/IN the/DT crime/NN was/VBD a/DT felony/NN punishable/JJ by/IN up/IN to/TO 10/CD years/NNS in/IN prison/NN ./.
|
|
Attorneys/NNS have/VBP argued/VBN since/IN 1985/CD ,/, when/WRB the/DT law/NN took/VBD effect/NN ,/, that/IN they/PRP can/MD not/RB provide/VB information/NN about/IN clients/NNS who/WP do/VBP n't/RB wish/VB their/PRP$ identities/NNS to/TO be/VB known/VBN ./.
|
|
Many/JJ attorneys/NNS have/VBP returned/VBN incomplete/JJ forms/NNS to/TO the/DT IRS/NNP in/IN recent/JJ years/NNS ,/, citing/VBG attorney-client/JJ privilege/NN ./.
|
|
Until/IN last/JJ week/NN ,/, the/DT IRS/NNP rarely/RB acted/VBD on/IN the/DT incomplete/JJ forms/NNS ./.
|
|
``/`` This/DT form/NN forces/VBZ a/DT lawyer/NN to/TO become/VB ,/, in/IN effect/NN ,/, a/DT witness/NN against/IN his/PRP$ client/NN ,/, ''/'' said/VBD Neal/NNP R./NNP Sonnett/NNP ,/, president/NN of/IN the/DT National/NNP Association/NNP of/IN Criminal/NNP Defense/NNP Lawyers/NNPS ./.
|
|
``/`` The/DT IRS/NNP is/VBZ asking/VBG lawyers/NNS to/TO red-flag/VB a/DT criminal/JJ problem/NN to/TO the/DT government/NN ,/, ''/'' added/VBD Mr./NNP Sonnett/NNP ,/, a/DT Miami/NNP lawyer/NN who/WP has/VBZ heard/VBN from/IN dozens/NNS of/IN attorneys/NNS who/WP received/VBD letters/NNS in/IN recent/JJ days/NNS and/CC has/VBZ himself/PRP received/VBD the/DT computer-generated/JJ IRS/NNP forms/NNS sent/VBN by/IN certified/JJ mail/NN ./.
|
|
Mr./NNP Sonnett/NNP said/VBD that/IN clients/NNS who/WP pay/VBP cash/NN may/MD include/VB alleged/VBN drug/NN dealers/NNS who/WP do/VBP n't/RB have/VB domestic/JJ bank/NN accounts/NNS ./.
|
|
These/DT individuals/NNS may/MD not/RB necessarily/RB be/VB under/IN investigation/NN when/WRB they/PRP hire/VBP lawyers/NNS ./.
|
|
Mr./NNP Sonnett/NNP said/VBD there/EX also/RB may/MD be/VB other/JJ circumstances/NNS under/IN which/WDT individuals/NNS would/MD n't/RB want/VB the/DT government/NN to/TO know/VB they/PRP had/VBD retained/VBN criminal/JJ defense/NN lawyers/NNS ./.
|
|
Filling/VBG out/RP detailed/JJ forms/NNS about/IN these/DT individuals/NNS would/MD tip/VB the/DT IRS/NNP off/RP and/CC spark/VB action/NN against/IN the/DT clients/NNS ,/, he/PRP said/VBD ./.
|
|
The/DT defense/NN lawyers/NNS '/POS group/NN formed/VBD a/DT task/NN force/NN this/DT week/NN ,/, chaired/VBN by/IN New/NNP York/NNP attorney/NN Gerald/NNP Lefcourt/NNP ,/, to/TO deal/VB with/IN the/DT matter/NN ./.
|
|
The/DT American/NNP Bar/NNP Association/NNP 's/POS House/NNP of/IN Delegates/NNPS passed/VBD a/DT resolution/NN in/IN 1985/CD condemning/VBG the/DT IRS/NNP reporting/NN requirement/NN ./.
|
|
Michael/NNP Ross/NNP ,/, a/DT New/NNP York/NNP lawyer/NN who/WP heads/VBZ the/DT ABA/NNP 's/POS grand/JJ jury/NN committee/NN ,/, said/VBD that/IN lawyers/NNS are/VBP prohibited/VBN by/IN the/DT ABA/NNP 's/POS code/NN of/IN ethics/NNS from/IN disclosing/VBG information/NN about/IN a/DT client/NN except/IN where/WRB a/DT court/NN orders/VBZ it/PRP or/CC to/TO prevent/VB the/DT client/NN from/IN committing/VBG a/DT criminal/JJ act/NN that/WDT could/MD result/VB in/IN death/NN ./.
|
|
Mr./NNP Ross/NNP said/VBD he/PRP met/VBD with/IN officials/NNS of/IN the/DT IRS/NNP and/CC the/DT Justice/NNP Department/NNP ,/, which/WDT would/MD bring/VB any/DT enforcement/NN actions/NNS against/IN taxpayers/NNS ,/, to/TO discuss/VB the/DT issue/NN last/JJ May/NNP ./.
|
|
At/IN that/DT meeting/NN ,/, he/PRP said/VBD ,/, the/DT Justice/NNP Department/NNP assured/VBD him/PRP that/IN enforcement/NN procedures/NNS would/MD n't/RB be/VB threatened/VBN against/IN attorneys/NNS without/IN further/JJ review/NN and/CC advance/NN notice/NN ./.
|
|
Mr./NNP Ross/NNP said/VBD IRS/NNP officials/NNS opposed/VBD the/DT Justice/NNP Department/NNP 's/POS moderate/JJ stance/NN on/IN the/DT matter/NN ./.
|
|
But/CC in/IN the/DT letters/NNS sent/VBN in/IN recent/JJ days/NNS ,/, Christopher/NNP J./NNP Lezovich/NNP of/IN the/DT IRS/NNP computing/NN center/NN in/IN Detroit/NNP ,/, told/VBD attorneys/NNS that/IN ``/`` failing/VBG to/TO voluntarily/RB submit/VB the/DT requested/VBN information/NN could/MD result/VB in/IN summons/NN enforcement/NN action/NN being/VBG initiated/VBN ./.
|
|
''/'' In/IN some/DT cases/NNS ,/, the/DT IRS/NNP asked/VBD for/IN information/NN dating/VBG back/RB to/TO forms/NNS it/PRP received/VBD in/IN 1985/CD ./.
|
|
A/DT spokesman/NN for/IN the/DT IRS/NNP confirmed/VBD that/IN ``/`` there/EX has/VBZ been/VBN correspondence/NN mailed/VBN about/IN incomplete/JJ 8300s/NNS ,/, ''/'' but/CC he/PRP declined/VBD to/TO say/VB why/WRB the/DT letters/NNS were/VBD sent/VBN to/TO lawyers/NNS now/RB ./.
|
|
Individuals/NNS familiar/JJ with/IN the/DT Justice/NNP Department/NNP 's/POS policy/NN said/VBD that/IN Justice/JJ officials/NNS had/VBD n't/RB any/DT knowledge/NN of/IN the/DT IRS/NNP 's/POS actions/NNS in/IN the/DT last/JJ week/NN ./.
|
|
Lawyers/NNS worry/VBP that/IN if/IN they/PRP provide/VBP information/NN about/IN clients/NNS ,/, that/DT data/NN could/MD quickly/RB end/VB up/RB in/IN the/DT hands/NNS of/IN prosecutors/NNS ./.
|
|
Prosecutors/NNS need/VBP court/NN permission/NN to/TO obtain/VB the/DT tax/NN returns/NNS of/IN an/DT individual/NN or/CC a/DT business/NN ./.
|
|
But/CC they/PRP have/VBP obtained/VBN 8300/JJ forms/NNS without/IN court/NN permission/NN and/CC used/VBD the/DT information/NN to/TO help/VB develop/VB criminal/JJ cases/NNS ./.
|
|
Some/DT criminal/JJ lawyers/NNS speculated/VBD that/IN the/DT IRS/NNP was/VBD sending/VBG the/DT letters/NNS to/TO test/VB the/DT issue/NN ./.
|
|
In/IN a/DT number/NN of/IN recent/JJ cases/NNS ,/, federal/JJ courts/NNS have/VBP refused/VBN to/TO recognize/VB attorneys/NNS '/POS assertions/NNS that/IN information/NN relating/VBG to/TO fees/NNS from/IN clients/NNS should/MD be/VB confidential/JJ ./.
|
|
THE/DT WAR/NN OVER/IN FEDERAL/JJ JUDICIAL/JJ SALARIES/NNS takes/VBZ a/DT victim/NN ./.
|
|
Often/RB ,/, judges/NNS ease/VBP into/IN more/RBR lucrative/JJ private/JJ practice/NN with/IN little/JJ fanfare/NN ,/, but/CC not/RB federal/JJ Judge/NNP Raul/NNP A./NN Ramirez/NNP in/IN Sacramento/NNP ,/, Calif/NNP ./.
|
|
On/IN Tuesday/NNP ,/, the/DT judge/NN called/VBD a/DT news/NN conference/NN to/TO say/VB he/PRP was/VBD quitting/VBG effective/JJ Dec./NN 31/CD to/TO join/VB a/DT San/NNP Francisco/NNP law/NN firm/NN ./.
|
|
The/DT reason/NN :/: the/DT refusal/NN of/IN Congress/NNP to/TO give/VB federal/JJ judges/NNS a/DT raise/NN ./.
|
|
``/`` A/DT couple/NN of/IN my/PRP$ law/NN clerks/NNS were/VBD going/VBG to/TO pass/VB me/PRP in/IN three/CD or/CC four/CD years/NNS ,/, and/CC I/PRP was/VBD afraid/JJ I/PRP was/VBD going/VBG to/TO have/VB to/TO ask/VB them/PRP for/IN a/DT loan/NN ,/, ''/'' the/DT judge/NN quipped/VBD in/IN an/DT interview/NN ./.
|
|
Federal/JJ judges/NNS make/VBP $/$ 89,500/CD annually/RB ;/: in/IN February/NNP ,/, Congress/NNP rejected/VBD a/DT bill/NN that/WDT would/MD have/VB increased/VBN their/PRP$ pay/NN by/IN 50/CD %/NN ./.
|
|
Judge/NNP Ramirez/NNP ,/, 44/CD ,/, said/VBD it/PRP is/VBZ unjust/JJ for/IN judges/NNS to/TO make/VB what/WP they/PRP do/VBP ./.
|
|
``/`` Judges/NNS are/VBP not/RB getting/VBG what/WP they/PRP deserve/VBP ./.
|
|
You/PRP look/VBP around/IN at/IN professional/JJ ballplayers/NNS or/CC accountants/NNS .../: and/CC nobody/NN blinks/VBZ an/DT eye/NN ./.
|
|
When/WRB you/PRP become/VBP a/DT federal/JJ judge/NN ,/, all/DT of/IN a/DT sudden/JJ you/PRP are/VBP relegated/VBN to/TO a/DT paltry/JJ sum/NN ./.
|
|
''/'' At/IN his/PRP$ new/JJ job/NN ,/, as/IN partner/NN in/IN charge/NN of/IN federal/JJ litigation/NN in/IN the/DT Sacramento/NNP office/NN of/IN Orrick/NNP ,/, Herrington/NNP &/CC Sutcliffe/NNP ,/, he/PRP will/MD make/VB out/RP much/RB better/RBR ./.
|
|
The/DT judge/NN declined/VBD to/TO discuss/VB his/PRP$ salary/NN in/IN detail/NN ,/, but/CC said/VBD :/: ``/`` I/PRP 'm/VBP going/VBG to/TO be/VB a/DT high-priced/JJ lawyer/NN ./.
|
|
''/'' DOONESBURY/NNP CREATOR'S/NN UNION/NN TROUBLES/NNS are/VBP no/DT laughing/JJ matter/NN ./.
|
|
Cartoonist/NN Garry/NNP Trudeau/NNP is/VBZ suing/VBG the/DT Writers/NNPS Guild/NNP of/IN America/NNP East/NNP for/IN $/$ 11/CD million/CD ,/, alleging/VBG it/PRP mounted/VBD a/DT ``/`` campaign/NN to/TO harass/VB and/CC punish/VB ''/'' him/PRP for/IN crossing/VBG a/DT screenwriters/NNS '/POS picket/NN line/NN ./.
|
|
The/DT dispute/NN involves/VBZ Darkhorse/NNP Productions/NNPS Inc./NNP ,/, a/DT TV/NN production/NN company/NN in/IN which/WDT Mr./NNP Trudeau/NNP is/VBZ a/DT co-owner/NN ./.
|
|
Mr./NNP Trudeau/NNP ,/, a/DT Writers/NNPS Guild/NNP member/NN ,/, also/RB was/VBD employed/VBN as/IN a/DT writer/NN for/IN Darkhorse/NNP ,/, which/WDT was/VBD covered/VBN by/IN a/DT guild/NN collective-bargaining/JJ agreement/NN ./.
|
|
The/DT guild/NN began/VBD a/DT strike/NN against/IN the/DT TV/NN and/CC movie/NN industry/NN in/IN March/NNP 1988/CD ./.
|
|
In/IN his/PRP$ lawsuit/NN ,/, Mr./NNP Trudeau/NNP says/VBZ the/DT strike/NN illegally/RB included/VBD Darkhorse/NNP ,/, and/CC the/DT cartoonist/NN refused/VBD to/TO honor/VB the/DT strike/NN against/IN the/DT company/NN ./.
|
|
A/DT spokesman/NN for/IN the/DT guild/NN said/VBD the/DT union/NN 's/POS lawyers/NNS are/VBP reviewing/VBG the/DT suit/NN ./.
|
|
He/PRP said/VBD disciplinary/JJ proceedings/NNS are/VBP confidential/JJ and/CC declined/VBD to/TO comment/VB on/IN whether/IN any/DT are/VBP being/VBG held/VBN against/IN Mr./NNP Trudeau/NNP ./.
|
|
Mr./NNP Trudeau/NNP 's/POS attorney/NN ,/, Norman/NNP K./NNP Samnick/NNP ,/, said/VBD the/DT harassment/NN consists/VBZ mainly/RB of/IN the/DT guild/NN 's/POS year-long/JJ threats/NNS of/IN disciplinary/JJ action/NN ./.
|
|
Mr./NNP Samnick/NNP said/VBD a/DT guild/NN disciplinary/JJ hearing/NN is/VBZ scheduled/VBN next/IN Monday/NNP in/IN New/NNP York/NNP ./.
|
|
Mr./NNP Samnick/NNP ,/, who/WP will/MD go/VB before/IN the/DT disciplinary/JJ panel/NN ,/, said/VBD the/DT proceedings/NNS are/VBP unfair/JJ and/CC that/IN any/DT punishment/NN from/IN the/DT guild/NN would/MD be/VB unjustified/JJ ./.
|
|
In/IN addition/NN to/TO the/DT damages/NNS ,/, the/DT suit/NN seeks/VBZ a/DT court/NN order/NN preventing/VBG the/DT guild/NN from/IN punishing/VBG or/CC retaliating/VBG against/IN Mr./NNP Trudeau/NNP ./.
|
|
ABORTION/NN RULING/NN UPHELD/VBN :/: A/DT federal/JJ appeals/NNS court/NN upheld/VBD a/DT lower/JJR court/NN ruling/NN that/IN the/DT U.S./NNP can/MD bar/VB the/DT use/NN of/IN federal/JJ funds/NNS for/IN family-planning/JJ programs/NNS that/WDT include/VBP abortion-related/JJ services/NNS ./.
|
|
A/DT Department/NNP of/IN Health/NNP and/CC Human/NNP Services/NNPS rule/NN adopted/VBN in/IN 1988/CD prohibits/VBZ the/DT use/NN of/IN so-called/JJ Title/NN X/NNP funds/NNS for/IN programs/NNS that/WDT assist/VBP a/DT woman/NN in/IN obtaining/VBG an/DT abortion/NN ,/, such/JJ as/IN abortion/NN counseling/NN and/CC referrals/NNS ./.
|
|
The/DT rule/NN also/RB prohibits/VBZ funding/NN for/IN activities/NNS that/WDT ``/`` encourage/VBP ,/, promote/VBP or/CC advocate/VBP abortion/NN ./.
|
|
''/'' Title/NN X/NNP funds/NNS are/VBP the/DT single/JJ largest/JJS source/NN of/IN federal/JJ funding/NN for/IN family-planning/JJ services/NNS ,/, according/VBG to/TO the/DT opinion/NN by/IN the/DT Second/NNP U.S./NNP Circuit/NNP Court/NNP of/IN Appeals/NNPS in/IN New/NNP York/NNP ./.
|
|
The/DT panel/NN ruled/VBD that/IN the/DT restrictions/NNS do/VBP n't/RB violate/VB the/DT freedom/NN of/IN speech/NN of/IN health/NN care/NN providers/NNS and/CC that/IN the/DT limits/NNS on/IN counseling/NN services/NNS do/VBP n't/RB violate/VB the/DT rights/NNS of/IN pregnant/JJ women/NNS ./.
|
|
INQUIRY/NN CLEARS/VBZ TEXAS/NNP JUDGE/NN of/IN bias/NN in/IN comments/NNS on/IN homosexual/JJ murder/NN victims/NNS ./.
|
|
Dallas/NNP District/NNP Judge/NNP Jack/NNP Hampton/NNP had/VBD sparked/VBN calls/NNS for/IN a/DT judicial/JJ inquiry/NN with/IN his/PRP$ remarks/NNS to/TO the/DT press/NN last/JJ December/NNP ,/, two/CD weeks/NNS after/IN sentencing/VBG an/DT 18-year-old/JJ defendant/NN to/TO 30/CD years/NNS in/IN state/NN prison/NN for/IN killing/VBG two/CD homosexual/JJ men/NNS in/IN a/DT city/NN park/NN ./.
|
|
The/DT judge/NN was/VBD quoted/VBN as/IN referring/VBG to/TO the/DT victims/NNS as/IN ``/`` queers/NNS ''/'' and/CC saying/VBG they/PRP would/MD n't/RB have/VB been/VBN killed/VBN ``/`` if/IN they/PRP had/VBD n't/RB been/VBN cruising/VBG the/DT streets/NNS picking/VBG up/RP teenage/JJ boys/NNS ./.
|
|
''/'' But/CC Robert/NNP R./NNP Murray/NNP ,/, a/DT special/JJ master/NN appointed/VBN by/IN the/DT Texas/NNP Supreme/NNP Court/NNP ,/, said/VBD Judge/NNP Hampton/NNP did/VBD n't/RB breach/VB any/DT judicial/JJ standards/NNS of/IN fairness/NN ,/, although/IN he/PRP did/VBD violate/VB the/DT state/NN 's/POS judicial/JJ code/NN by/IN commenting/VBG publicly/RB on/IN a/DT pending/VBG case/NN ./.
|
|
Observing/VBG that/IN the/DT judge/NN ``/`` has/VBZ never/RB exhibited/VBN any/DT bias/NN or/CC prejudice/NN ,/, ''/'' Mr./NNP Murray/NNP concluded/VBD that/IN he/PRP ``/`` would/MD be/VB impartial/JJ in/IN any/DT case/NN involving/VBG a/DT homosexual/NN or/CC prostitute/NN ''/'' as/IN a/DT victim/NN ./.
|
|
Mr./NNP Murray/NNP also/RB said/VBD Judge/NNP Hampton/NNP 's/POS comments/NNS did/VBD n't/RB discredit/VB the/DT judiciary/NN or/CC the/DT administration/NN of/IN justice/NN ./.
|
|
The/DT report/NN is/VBZ subject/JJ to/TO review/VB by/IN the/DT State/NNP Commission/NNP on/IN Judicial/NNP Conduct/NNP ,/, which/WDT is/VBZ empowered/VBN to/TO impose/VB sanctions/NNS ./.
|
|
GAF/NNP TRIAL/NN goes/VBZ to/TO round/NN three/CD ./.
|
|
Attorneys/NNS in/IN the/DT third/JJ stock-manipulation/JJ trial/NN of/IN GAF/NNP Corp./NNP began/VBD opening/VBG arguments/NNS yesterday/NN in/IN the/DT Manhattan/NNP courtroom/NN of/IN U.S./NNP District/NNP Judge/NNP Mary/NNP Johnson/NNP Lowe/NNP ./.
|
|
In/IN an/DT eight-count/JJ indictment/NN ,/, the/DT government/NN has/VBZ charged/VBN GAF/NNP ,/, a/DT Wayne/NNP ,/, N.J./NNP ,/, specialty/NN chemical/NN maker/NN ,/, and/CC its/PRP$ Vice/NNP Chairman/NNP James/NNP T./NNP Sherwin/NNP with/IN attempting/VBG to/TO manipulate/VB the/DT common/JJ stock/NN of/IN Union/NNP Carbide/NNP Corp./NNP in/IN advance/NN of/IN GAF/NNP 's/POS planned/JJ sale/NN of/IN a/DT large/JJ block/NN of/IN the/DT stock/NN in/IN November/NNP 1986/CD ./.
|
|
The/DT first/JJ two/CD GAF/NNP trials/NNS ended/VBD in/IN mistrials/NNS earlier/RBR this/DT year/NN ./.
|
|
This/DT trial/NN is/VBZ expected/VBN to/TO last/VB five/CD weeks/NNS ./.
|
|
SWITCHING/VBG TO/TO THE/DT DEFENSE/NN :/: A/DT former/JJ member/NN of/IN the/DT prosecution/NN team/NN in/IN the/DT Iran&slash;Contra/NNP affair/NN joined/VBD the/DT Chicago/NNP firm/NN of/IN Mayer/NNP ,/, Brown/NNP &/CC Platt/NNP ./.
|
|
Michael/NNP R./NNP Bromwich/NNP ,/, a/DT member/NN since/IN January/NNP 1987/CD of/IN the/DT three-lawyer/JJ trial/NN team/NN in/IN the/DT prosecution/NN of/IN Oliver/NNP North/NNP ,/, became/VBD a/DT partner/NN in/IN the/DT Washington/NNP ,/, D.C./NNP ,/, office/NN of/IN the/DT 520-lawyer/JJ firm/NN ./.
|
|
He/PRP will/MD specialize/VB in/IN white-collar/JJ criminal/NN defense/NN work/NN ./.
|
|
Mr./NNP Bromwich/NNP ,/, 35/CD ,/, also/RB has/VBZ served/VBN as/IN deputy/NN chief/NN and/CC chief/NN of/IN the/DT narcotics/NNS unit/NN for/IN the/DT U.S./NNP attorney/NN 's/POS office/NN for/IN the/DT Southern/NNP District/NNP of/IN New/NNP York/NNP ,/, based/VBN in/IN Manhattan/NNP ./. Cooper/NNP Tire/NNP &/SYM Rubber/NNP Co./NNP said/VBD it/PRP has/VBZ reached/VBN an/DT agreement/NN in/IN principle/NN to/TO buy/VB buildings/NNS and/CC related/JJ property/NN in/IN Albany/NNP ,/, Ga./NNP ,/, from/IN Bridgestone&slash;Firestone/NNP Inc/NNP ./.
|
|
Terms/NNS were/VBD n't/RB disclosed/VBN ./.
|
|
The/DT tire/NN maker/NN said/VBD the/DT buildings/NNS consist/VBP of/IN 1.8/CD million/CD square/JJ feet/NNS of/IN office/NN ,/, manufacturing/NN and/CC warehousing/NN space/NN on/IN 353/CD acres/NNS of/IN land/NN ./. Fujitsu/NNP Ltd./NNP 's/POS top/JJ executive/NN took/VBD the/DT unusual/JJ step/NN of/IN publicly/RB apologizing/VBG for/IN his/PRP$ company/NN 's/POS making/VBG bids/NNS of/IN just/RB one/CD yen/NN for/IN several/JJ local/JJ government/NN projects/NNS ,/, while/IN computer/NN rival/NN NEC/NNP Corp./NNP made/VBD a/DT written/VBN apology/NN for/IN indulging/VBG in/IN the/DT same/JJ practice/NN ./.
|
|
Meanwhile/RB ,/, business/NN and/CC government/NN leaders/NNS rebuked/VBD the/DT computer/NN makers/NNS ,/, and/CC fretted/VBD about/IN the/DT broader/JJR statement/NN the/DT companies/NNS '/POS actions/NNS make/VBP about/IN Japanese/JJ cutthroat/JJ pricing/NN ./.
|
|
Fujitsu/NNP said/VBD it/PRP bid/VBD the/DT equivalent/NN of/IN less/JJR than/IN a/DT U.S./NNP penny/NN on/IN three/CD separate/JJ municipal/JJ contracts/NNS during/IN the/DT past/JJ two/CD years/NNS ./.
|
|
The/DT company/NN also/RB disclosed/VBD that/IN during/IN that/DT period/NN it/PRP offered/VBD 10,000/CD yen/NNS ,/, or/CC about/RB $/$ 70/CD ,/, for/IN another/DT contract/NN ./.
|
|
But/CC Fujitsu/NNP ,/, Japan/NNP 's/POS No./NN 1/CD computer/NN maker/NN ,/, is/VBZ n't/RB alone/RB ./.
|
|
NEC/NNP ,/, one/CD of/IN its/PRP$ largest/JJS domestic/JJ competitors/NNS ,/, said/VBD it/PRP bid/VBD one/CD yen/NN in/IN two/CD separate/JJ public/JJ auctions/NNS since/IN 1987/CD ./.
|
|
In/IN both/DT cases/NNS ,/, NEC/NNP lost/VBD the/DT contract/NN to/TO Fujitsu/NNP ,/, which/WDT made/VBD the/DT same/JJ bid/NN and/CC won/VBD a/DT tie-breaking/JJ lottery/NN ./.
|
|
All/DT the/DT contracts/NNS were/VBD for/IN computer-system-design/JJ contracts/NNS and/CC involved/VBD no/DT hardware/NN or/CC software/NN ./.
|
|
The/DT Ministry/NNP of/IN International/NNP Trade/NNP and/CC Industry/NNP summoned/VBD executives/NNS from/IN the/DT companies/NNS to/TO ``/`` make/VB sure/JJ they/PRP understood/VBD ''/'' the/DT concern/NN about/IN such/JJ practices/NNS ,/, according/VBG to/TO a/DT government/NN spokesman/NN ./.
|
|
``/`` These/DT cases/NNS lead/VBP to/TO the/DT loss/NN of/IN the/DT firms/NNS '/POS social/JJ and/CC international/JJ credibility/NN ,/, ''/'' a/DT ministry/NN statement/NN said/VBD ./.
|
|
Japan/NNP 's/POS Fair/NNP Trade/NNP Commission/NNP has/VBZ said/VBD it/PRP is/VBZ considering/VBG investigating/VBG the/DT bids/NNS for/IN possible/JJ antitrust-law/JJ violations/NNS ./.
|
|
``/`` We/PRP would/MD like/VB to/TO apologize/VB for/IN having/VBG caused/VBN huge/JJ trouble/NN ,/, ''/'' Fujitsu/NNP President/NNP Takuma/NNP Yamamoto/NNP ,/, read/VBD from/IN a/DT prepared/VBN statement/NN as/IN he/PRP stood/VBD before/IN a/DT packed/JJ news/NN conference/NN at/IN his/PRP$ company/NN 's/POS downtown/NN headquarters/NN ./.
|
|
The/DT bids/NNS ,/, he/PRP added/VBD ,/, were/VBD ``/`` contrary/JJ to/TO common/JJ sense/NN ./.
|
|
''/'' NEC/NNP released/VBD a/DT statement/NN saying/VBG ,/, ``/`` We/PRP feel/VBP sorry/JJ for/IN having/VBG caused/VBN trouble/NN to/TO society/NN ,/, ''/'' a/DT form/NN of/IN apology/NN common/JJ in/IN Japan/NNP for/IN companies/NNS caught/VBN in/IN embarrassing/JJ situations/NNS ./.
|
|
Japanese/JJ companies/NNS have/VBP long/RB had/VBD a/DT reputation/NN for/IN sacrificing/VBG short-term/JJ profits/NNS to/TO make/VB a/DT sale/NN that/WDT may/MD have/VB long-term/JJ benefits/NNS ./.
|
|
But/CC the/DT growing/VBG controversy/NN comes/VBZ as/IN many/JJ practices/NNS historically/RB accepted/VBN as/IN normal/JJ here/RB --/: such/JJ as/IN politicians/NNS accepting/VBG substantial/JJ gifts/NNS from/IN businessmen/NNS or/CC having/VBG extramarital/JJ affairs/NNS --/: are/IN coming/VBG under/IN close/JJ ethical/JJ scrutiny/NN ./.
|
|
The/DT fire/NN is/VBZ also/RB fueled/VBN by/IN growing/JJ international/JJ interest/NN in/IN Japanese/JJ behavior/NN ./.
|
|
So/RB far/RB there/EX have/VBP been/VBN no/DT public/JJ overseas/JJ complaints/NNS about/IN the/DT issue/NN ./.
|
|
But/CC in/IN one/CD of/IN the/DT auctions/NNS in/IN question/NN ,/, International/NNP Business/NNP Machines/NNP Corp./NNP made/VBD a/DT bid/NN substantially/RB higher/JJR than/IN the/DT Fujitsu/NNP offer/NN ,/, according/VBG to/TO the/DT municipality/NN ./.
|
|
The/DT low-ball/JJ bids/NNS touch/VBP on/IN issues/NNS central/JJ to/TO the/DT increasingly/RB tense/JJ trade/NN debate/NN ./.
|
|
Foreigners/NNS complain/VBP that/IN they/PRP have/VBP limited/JJ access/NN to/TO government/NN procurement/NN in/IN Japan/NNP ,/, in/IN part/NN because/IN Japanese/JJ companies/NNS unfairly/RB undercut/VBP them/PRP ./.
|
|
The/DT U.S./NNP government/NN in/IN recent/JJ years/NNS has/VBZ accused/VBN Japanese/JJ companies/NNS of/IN excessively/RB slashing/VBG prices/NNS on/IN semiconductors/NNS and/CC supercomputers/NNS --/: products/NNS Fujitsu/NNP and/CC NEC/NNP make/VBP ./.
|
|
Asked/VBD whether/IN the/DT bidding/NN flap/NN would/MD hurt/VB U.S.-Japan/JJ relations/NNS ,/, Mr./NNP Yamamoto/NNP said/VBD ,/, ``/`` this/DT will/MD be/VB a/DT minus/NN factor/NN ./.
|
|
''/'' The/DT ``/`` one-yen/JJ ''/'' controversy/NN first/RB came/VBD to/TO a/DT head/NN last/JJ week/NN when/WRB the/DT city/NN of/IN Hiroshima/NNP announced/VBD that/IN Fujitsu/NNP won/VBD a/DT contract/NN to/TO design/VB a/DT computer/NN system/NN to/TO map/VB its/PRP$ waterworks/NN ./.
|
|
The/DT city/NN had/VBD expected/VBN to/TO pay/VB about/RB 11/CD million/CD yen/NNS (/( $/$ 77,000/CD )/) ,/, but/CC Fujitsu/NNP essentially/RB offered/VBD to/TO do/VB it/PRP for/IN free/RB ./.
|
|
Then/RB Wednesday/NNP ,/, Fujitsu/NNP said/VBD it/PRP made/VBD a/DT similar/JJ bid/NN to/TO win/VB a/DT library/NN contract/NN in/IN Nagano/NNP prefecture/NN two/CD weeks/NNS earlier/RBR ./.
|
|
It/PRP also/RB said/VBD that/IN in/IN July/NNP ,/, it/PRP bid/VBD 10,000/CD yen/NNS to/TO design/VB a/DT system/NN for/IN the/DT Saitama/NNP prefectural/JJ library/NN ,/, and/CC two/CD years/NNS ago/RB ,/, it/PRP bid/VBD one/CD yen/NN to/TO plan/VB the/DT telecommunications/NNS system/NN for/IN Wakayama/NNP prefecture/NN ./.
|
|
The/DT company/NN said/VBD it/PRP has/VBZ offered/VBN to/TO withdraw/VB its/PRP$ bids/NNS in/IN Hiroshima/NNP and/CC Nagano/NNP ./.
|
|
The/DT municipalities/NNS said/VBD they/PRP have/VBP n't/RB decided/VBN whether/IN to/TO try/VB to/TO force/VB the/DT company/NN to/TO go/VB through/RP with/IN the/DT contracts/NNS ./.
|
|
Fujitsu/NNP and/CC NEC/NNP said/VBD they/PRP were/VBD still/RB investigating/VBG ,/, and/CC that/IN knowledge/NN of/IN more/JJR such/JJ bids/NNS could/MD emerge/VB ./.
|
|
Mr./NNP Yamamoto/NNP insisted/VBD that/IN headquarters/NNS had/VBD n't/RB approved/VBN the/DT bids/NNS ,/, and/CC that/IN he/PRP did/VBD n't/RB know/VB about/IN most/JJS of/IN the/DT cases/NNS until/IN Wednesday/NNP ./.
|
|
Other/JJ major/JJ Japanese/JJ computer/NN companies/NNS contacted/VBN yesterday/NN said/VBD they/PRP have/VBP never/RBR made/VBN such/JJ bids/NNS ./.
|
|
``/`` One/CD yen/NN is/VBZ not/RB ethical/JJ ,/, ''/'' Michio/NNP Sasaki/NNP ,/, an/DT official/NN at/IN Keidanren/NNP ,/, the/DT Japan/NNP Federation/NNP of/IN Economic/NNP Organizations/NNP ,/, said/VBD ./.
|
|
``/`` Profit/NN may/MD be/VB low/JJ ,/, but/CC at/IN least/JJS costs/NNS should/MD be/VB covered/VBN ./.
|
|
''/'' PAPERS/NNS :/: Backe/NNP Group/NNP Inc./NNP agreed/VBD to/TO acquire/VB Atlantic/NNP Publications/NNP Inc./NNP ,/, which/WDT has/VBZ 30/CD community/NN papers/NNS and/CC annual/JJ sales/NNS of/IN $/$ 7/CD million/CD ./.
|
|
Terms/NNS were/VBD n't/RB disclosed/VBN ./.
|
|
Backe/NNP is/VBZ a/DT closely/RB held/VBN media/NNS firm/NN run/VBN by/IN former/JJ CBS/NNP Inc./NNP President/NNP John/NNP Backe/NNP ./.
|
|
TV/NN :/: Price/NNP Communications/NNP Corp./NNP completed/VBD the/DT sale/NN of/IN four/CD of/IN its/PRP$ TV/NN stations/NNS to/TO NTG/NNP Inc./NNP for/IN $/$ 120/CD million/CD in/IN cash/NN and/CC notes/NNS ,/, retaining/VBG a/DT 10/CD %/NN equity/NN stake/NN in/IN the/DT new/JJ concern/NN ./.
|
|
NTG/NNP was/VBD formed/VBN by/IN Osborn/NNP Communications/NNP Corp./NNP and/CC Desai/NNP Capital/NNP ./. Michaels/NNP Stores/NNP Inc./NNP ,/, which/WDT owns/VBZ and/CC operates/VBZ a/DT chain/NN of/IN specialty/NN retail/NN stores/NNS ,/, said/VBD October/NNP sales/NNS rose/VBD 14.6/CD %/NN to/TO $/$ 32.8/CD million/CD from/IN $/$ 28.6/CD million/CD a/DT year/NN earlier/RBR ./.
|
|
Sales/NNS in/IN stores/NNS open/JJ more/JJR than/IN one/CD year/NN rose/VBD 3/CD %/NN to/TO $/$ 29.3/CD million/CD from/IN $/$ 28.4/CD million/CD ./. Furukawa/NNP Co./NNP of/IN Japan/NNP said/VBD it/PRP will/MD acquire/VB two/CD construction/NN machinery/NN plants/NNS and/CC a/DT sales/NNS unit/NN in/IN France/NNP formerly/RB belonging/VBG to/TO Dresser/NNP Industries/NNP Inc./NNP of/IN the/DT U.S/NNP ./.
|
|
The/DT company/NN said/VBD it/PRP made/VBD the/DT purchase/NN in/IN order/NN to/TO locally/RB produce/VB hydraulically/RB operated/VBN shovels/NNS ./.
|
|
Last/JJ October/NNP ,/, the/DT company/NN also/RB bought/VBD a/DT wheel-loader/JJ manufacturing/NN plant/NN in/IN Heidelberg/NNP ,/, West/NNP Germany/NNP ,/, from/IN Dresser/NNP ./.
|
|
Furukawa/NNP said/VBD the/DT purchase/NN of/IN the/DT French/JJ and/CC German/JJ plants/NNS together/RB will/MD total/VB about/RB 40/CD billion/CD yen/NNS (/( $/$ 280/CD million/CD )/) ./. Structural/NNP Dynamics/NNP Research/NNP Corp./NNP ,/, which/WDT makes/VBZ computer-aided/JJ engineering/NN software/NN ,/, said/VBD it/PRP introduced/VBD new/JJ technology/NN in/IN mechanical/JJ design/NN automation/NN that/WDT will/MD improve/VB mechanical/JJ engineering/NN productivity/NN ./. @/IN Money/NNP Market/NNP Deposits-a/NNP 6.21/CD %/NN a/LS -/: Average/JJ rate/NN paid/VBN yesterday/NN by/IN 100/CD large/JJ banks/NNS and/CC thrifts/NNS in/IN the/DT 10/CD largest/JJS metropolitan/JJ areas/NNS as/IN compiled/VBN by/IN Bank/NNP Rate/NNP Monitor/NNP ./.
|
|
b/LS -/: Current/JJ annual/JJ yield/NN ./.
|
|
Guaranteed/VBN minimum/NN 6/CD %/NN ./. LSI/NNP Logic/NNP Corp./NNP reported/VBD a/DT surprise/NN $/$ 35.7/CD million/CD third-quarter/JJ net/JJ loss/NN ,/, including/VBG a/DT special/JJ restructuring/NN charge/NN that/WDT reflects/VBZ a/DT continuing/VBG industry-wide/JJ slowdown/NN in/IN semiconductor/NN demand/NN ./.
|
|
In/IN September/NNP ,/, the/DT custom-chip/JJ maker/NN said/VBD excess/JJ capacity/NN and/CC lagging/VBG billings/NNS would/MD result/VB in/IN an/DT estimated/VBN $/$ 2/CD million/CD to/TO $/$ 3/CD million/CD net/JJ loss/NN for/IN the/DT third/JJ quarter/NN ./.
|
|
But/CC company/NN officials/NNS said/VBD yesterday/NN that/IN they/PRP decided/VBD to/TO take/VB a/DT $/$ 43/CD million/CD pretax/JJ charge/NN for/IN the/DT period/NN to/TO cover/VB a/DT restructuring/NN of/IN world-wide/JJ manufacturing/NN operations/NNS ,/, citing/VBG extended/JJ weakness/NN in/IN the/DT market/NN as/RB well/RB as/IN a/DT decision/NN to/TO switch/VB to/TO more/JJR economical/JJ production/NN techniques/NNS ./.
|
|
``/`` Over/IN the/DT summer/NN months/NNS ,/, there/EX has/VBZ been/VBN a/DT slowing/NN in/IN the/DT rate/NN of/IN new/JJ orders/NNS from/IN the/DT computer/NN sector/NN ,/, our/PRP$ primary/JJ market/NN ,/, ''/'' said/VBD Wilfred/NNP J./NNP Corrigan/NNP ,/, chairman/NN and/CC chief/JJ executive/JJ officer/NN ./.
|
|
``/`` In/IN addition/NN ,/, recent/JJ industry/NN forecasts/NNS for/IN 1990/CD indicate/VBP a/DT slow/JJ environment/NN ,/, at/IN least/JJS until/IN midyear/NN ./.
|
|
''/'' As/IN a/DT result/NN ,/, the/DT company/NN said/VBD it/PRP decided/VBD to/TO phase/VB out/RP its/PRP$ oldest/JJS capacity/NN and/CC ``/`` make/VB appropriate/JJ reductions/NNS ''/'' in/IN operating/NN expenses/NNS ./.
|
|
The/DT $/$ 35.7/CD million/CD net/JJ loss/NN equals/VBZ 86/CD cents/NNS a/DT share/NN ./.
|
|
Not/RB counting/VBG the/DT extraordinary/JJ charge/NN ,/, the/DT company/NN said/VBD it/PRP would/MD have/VB had/VBD a/DT net/JJ loss/NN of/IN $/$ 3.1/CD million/CD ,/, or/CC seven/CD cents/NNS a/DT share/NN ./.
|
|
A/DT year/NN earlier/RBR ,/, it/PRP had/VBD profit/NN of/IN $/$ 7.5/CD million/CD ,/, or/CC 18/CD cents/NNS a/DT share/NN ./.
|
|
Revenue/NN rose/VBD 42/CD %/NN to/TO $/$ 133.7/CD million/CD from/IN $/$ 94/CD million/CD ./.
|
|
The/DT charge/NN partly/RB reflects/VBZ a/DT switch/NN from/IN older/JJR five-inch/JJ to/TO more-efficient/JJ six-inch/JJ silicon/NN wafers/NNS with/IN which/WDT to/TO fabricate/VB chips/NNS ./.
|
|
Related/VBN to/TO that/DT decision/NN ,/, the/DT company/NN said/VBD it/PRP was/VBD converting/VBG its/PRP$ Santa/NNP Clara/NNP ,/, Calif./NNP ,/, factory/NN to/TO a/DT research/NN and/CC development/NN facility/NN ./.
|
|
A/DT spokesman/NN declined/VBD to/TO speculate/VB about/IN possible/JJ reductions/NNS in/IN force/NN ./.
|
|
``/`` This/DT is/VBZ a/DT company/NN that/WDT has/VBZ invested/VBN in/IN capacity/NN additions/NNS more/RBR aggressively/RB than/IN any/DT other/JJ company/NN in/IN the/DT industry/NN and/CC now/RB the/DT industry/NN is/VBZ growing/VBG more/RBR slowly/RB and/CC they/PRP are/VBP suddenly/RB poorly/RB positioned/VBN ,/, ''/'' said/VBD Michael/NNP Stark/NNP ,/, chip/NN analyst/NN at/IN Robertson/NNP ,/, Stephens/NNP &/CC Co/NNP ./.
|
|
``/`` I/PRP think/VBP the/DT stock/NN is/VBZ dead/JJ money/NN for/IN a/DT while/NN ./.
|
|
''/'' Yesterday/NN 's/POS announcement/NN was/VBD made/VBN after/IN markets/NNS closed/VBD ./.
|
|
U.S./NNP chip/NN makers/NNS are/VBP facing/VBG continued/VBN slack/JJ demand/NN following/VBG a/DT traditionally/RB slow/JJ summer/NN ./.
|
|
Part/NN of/IN the/DT problem/NN is/VBZ that/IN chip/NN buyers/NNS are/VBP keeping/VBG inventories/NNS low/JJ because/IN of/IN jitters/NNS about/IN the/DT course/NN of/IN the/DT U.S./NNP economy/NN ./. |