Consumers NNS B-NP (S*
may MD B-VP *
want VB I-VP *
to TO I-VP *
move VB I-VP *
their PRP$ B-NP *
telephones NNS I-NP *
a DT O *
little RB O *
closer JJR O *
to TO B-PP *
the DT B-NP *
TV NN I-NP *
set VBN B-VP *
. . O *S)

Couch-potato NN B-NP (S*
jocks NNS I-NP *
watching VBG B-VP *
ABC NNP B-NP *
's POS B-NP *
`` `` I-NP *
Monday NNP I-NP *
Night NNP I-NP *
Football NNP I-NP *
'' '' O *
can MD B-VP *
now RB I-VP *
vote VB I-VP *
during IN B-PP *
halftime NN B-NP *
for IN B-PP *
the DT B-NP *
greatest JJS I-NP *
play NN I-NP *
in IN B-PP *
20 CD B-NP *
years NNS I-NP *
from IN B-PP *
among IN O *
four CD B-NP *
or CC I-NP *
five CD I-NP *
filmed VBN I-NP *
replays NNS I-NP *
. . O *S)

Two CD B-NP (S*
weeks NNS I-NP *
ago RB B-ADVP *
COMMA , O *
viewers NNS B-NP *
of IN B-PP *
several JJ B-NP *
NBC NNP I-NP *
daytime JJ I-NP *
consumer NN I-NP *
segments NNS I-NP *
started VBD B-VP *
calling VBG I-VP *
a DT B-NP *
900 CD I-NP *
number NN I-NP *
for IN B-PP *
advice NN B-NP *
on IN B-PP *
various JJ B-NP *
life-style NN I-NP *
issues NNS I-NP *
. . O *S)

And CC O (S*
the DT O *
new JJ O *
syndicated VBN O *
`` `` B-NP *
reality NN I-NP *
'' '' I-NP *
show NN I-NP *
`` `` O *
Hard NNP B-NP *
Copy NNP I-NP *
'' '' I-NP *
records NNS I-NP *
viewers NNS B-NP *
' POS B-NP *
opinions NNS I-NP *
for IN B-PP *
possible JJ B-NP *
airing NN I-NP *
on IN B-PP *
the DT B-NP *
next JJ I-NP *
day NN I-NP *
's POS B-NP *
show NN I-NP *
. . O *S)

Interactive JJ B-NP (S(S*
telephone NN I-NP *
technology NN I-NP *
has VBZ B-VP *
taken VBN I-VP *
a DT B-NP *
new JJ I-NP *
leap NN I-NP *
in IN B-PP *
sophistication NN B-NP *S)
COMMA , O *
and CC O *
television NN B-NP (S*
programmers NNS I-NP *
are VBP B-VP *
racing VBG I-VP *
to TO I-VP *
exploit VB I-VP *
the DT B-NP *
possibilities NNS I-NP *S)
. . O *S)

Eventually RB O (S*
viewers NNS O *
may MD B-VP *
grow VB I-VP *
bored VBN I-VP *
with IN B-PP *
the DT B-NP *
technology NN I-NP *
and CC O *
resent VBP B-VP *
the DT B-NP *
cost NN I-NP *
. . O *S)

But CC O (S*
right RB B-ADVP *
now JJ B-NP *
programmers NNS I-NP *
are VBP B-VP *
figuring VBG I-VP *
that IN B-SBAR (S*
viewers NNS B-NP (S*
who WP B-NP (S*
are VBP B-VP (S*
busy JJ B-NP *
dialing NN I-NP (S*
up IN O *
a DT B-NP *
range NN I-NP *
of IN B-PP *
services NNS B-NP *S)S)S)
may MD B-VP *
put VB I-VP *
down RB B-PRT *
their PRP$ B-NP *
remote JJ I-NP *
control NN I-NP *
zappers NNS I-NP *
and CC O *
stay VB B-VP *
tuned VBN I-VP *S)S)
. . O *S)

`` `` O (S*
We PRP B-NP (S*
've VBP B-VP *
been VBN I-VP *
spending VBG I-VP *
a DT B-NP *
lot NN I-NP *
of IN B-PP *
time NN B-NP *
in IN B-PP *
Los NNP B-NP *
Angeles NNP I-NP *
talking VBG B-VP (S*
to TO B-PP *
TV NN B-NP *
production NN I-NP *
people NNS I-NP *S)S)
COMMA , O *
'' '' O *
says VBZ B-VP *
Mike NNP B-NP *
Parks NNP I-NP *
COMMA , O *
president NN B-NP *
of IN B-PP *
Call NNP B-NP *
Interactive NNP I-NP *
COMMA , O *
which WDT B-NP (S*
supplied VBD B-VP (S*
technology NN B-NP *
for IN B-PP *
both DT B-NP *
ABC NNP I-NP *
Sports NNPS I-NP *
and CC O *
NBC NNP B-NP *
's POS B-NP *
consumer NN I-NP *
minutes NNS I-NP *S)S)
. . O *S)

`` `` O (S*
With IN B-PP *
the DT B-NP *
competitiveness NN I-NP *
of IN B-PP *
the DT B-NP *
television NN I-NP *
market NN I-NP *
these DT B-NP *
days NNS I-NP *
COMMA , O *
everyone NN B-NP *
is VBZ B-VP *
looking VBG I-VP *
for IN B-PP *
a DT B-NP *
way NN I-NP *
to TO B-VP (S(S*
get VB I-VP *
viewers NNS B-NP *
more RBR O *
excited VBN O *S)S)
. . O *
'' '' O *S)

One CD B-NP (S*
of IN B-PP *
the DT B-NP *
leaders NNS I-NP *
behind IN B-PP *
the DT B-NP *
expanded VBN I-NP *
use NN I-NP *
of IN B-PP *
900 CD B-NP *
numbers NNS I-NP *
is VBZ B-VP *
Call VB B-NP *
Interactive NNP I-NP *
COMMA , O *
a DT B-NP *
joint JJ I-NP *
venture NN I-NP *
of IN B-PP *
giants NNS B-NP *
American NNP I-NP *
Express NNP I-NP *
Co. NNP I-NP *
and CC O *
American NNP B-NP *
Telephone NNP I-NP *
& CC I-NP *
Telegraph NNP I-NP *
Co NNP I-NP *
. . O *S)

Formed VBN B-VP (S(S*
in IN B-PP *
August NNP B-NP *S)
COMMA , O *
the DT B-NP *
venture NN I-NP *
weds VBZ B-VP *
AT&T NNP B-NP *
's POS B-NP *
newly RB O *
expanded VBN O *
900 CD B-NP *
service NN I-NP *
with IN B-PP *
200 CD B-NP *
voice-activated JJ I-NP *
computers NNS I-NP *
in IN B-PP *
American NNP B-NP *
Express NNP I-NP *
's POS B-NP *
Omaha NNP I-NP *
COMMA , I-NP *
Neb. NNP I-NP *
COMMA , I-NP *
service NN I-NP *
center NN I-NP *
. . O *S)

Other JJ B-NP (S(S*
long-distance JJ I-NP *
carriers NNS I-NP *
have VBP O *
also RB O *
begun VBN O *
marketing NN O *
enhanced VBN B-VP *
900 CD B-NP *
service NN I-NP *S)
COMMA , O *
and CC O *
special JJ B-NP (S*
consultants NNS I-NP *
are VBP B-VP *
springing VBG I-VP *
up VB B-PRT *
to TO B-VP (S*
exploit VB I-VP *
the DT B-NP *
new JJ I-NP *
tool NN I-NP *S)S)
. . O *S)

Blair NNP B-NP (S*
Entertainment NNP I-NP *
COMMA , O *
a DT B-NP *
New NNP I-NP *
York NNP I-NP *
firm NN I-NP *
that WDT B-NP (S*
advises VBZ B-VP (S*
TV NN B-NP *
stations NNS I-NP *
and CC O *
sells VBZ B-VP *
ads NNS B-NP *
for IN B-PP *
them PRP B-NP *S)S)
COMMA , O *
has VBZ B-VP *
just RB I-VP *
formed VBN I-VP *
a DT B-NP *
subsidiary NN I-NP *
-- : O *
900 CD B-NP *
Blair NNP I-NP *
-- : O *
to TO B-VP (S(S*
apply VB I-VP *
the DT B-NP *
technology NN I-NP *
to TO B-PP *
television NN B-NP *S)S)
. . O *S)

The DT B-NP (S*
use NN I-NP *
of IN B-PP *
900 CD B-NP *
toll NN I-NP *
numbers NNS I-NP *
has VBZ B-VP *
been VBN I-VP *
expanding VBG I-VP *
rapidly RB B-ADVP *
in IN B-PP *
recent JJ B-NP *
years NNS I-NP *
. . O *S)

For IN B-PP (S(S*
a DT B-NP *
while NN I-NP *
COMMA , O *
high-cost JJ B-NP *
pornography NN I-NP *
lines NNS I-NP *
and CC I-NP *
services NNS I-NP *
that WDT B-NP (S*
tempt VBP B-VP (S*
children NNS B-NP (S*
to TO B-VP *
dial VB I-VP *
( -LRB- B-NP *
and CC O *
redial VB B-VP *
) -RRB- B-NP *
movie NN I-NP *
or CC I-NP *
music NN I-NP *
information NN I-NP *S)S)S)
earned VBD B-VP *
the DT B-NP *
service NN I-NP *
a DT B-NP *
somewhat RB I-NP *
sleazy JJ I-NP *
image NN I-NP *S)
COMMA , O *
but CC O *
new JJ B-NP (S*
legal JJ I-NP *
restrictions NNS I-NP *
are VBP B-VP *
aimed VBN I-VP *
at IN B-PP *
trimming VBG B-VP (S*
excesses NNS O *S)S)
. . O *S)

The DT B-NP (S*
cost NN I-NP *
of IN B-PP *
a DT B-NP *
900 CD I-NP *
call NN I-NP *
is VBZ B-VP *
set VBN I-VP *
by IN B-PP *
the DT B-NP *
originator NN I-NP *
-- : O *
ABC NNP B-NP *
Sports NNPS I-NP *
COMMA , O *
for IN B-PP *
example NN B-NP *
-- : O *
with IN B-PP *
the DT O *
cheapest JJS O *
starting VBG O *
at IN B-PP *
75 CD B-NP *
cents NNS I-NP *
. . O *S)

Billing NN B-NP (S*
is VBZ B-VP *
included VBN I-VP *
in IN B-PP *
a DT B-NP *
caller NN I-NP *
's POS B-NP *
regular JJ I-NP *
phone NN I-NP *
bill NN I-NP *
. . O *S)

From IN B-PP (S*
the DT B-NP *
fee NN I-NP *
COMMA , O *
the DT B-NP *
local JJ I-NP *
phone NN I-NP *
company NN I-NP *
and CC O *
the DT B-NP *
long-distance JJ I-NP *
carrier NN I-NP *
extract VB B-VP *
their PRP$ B-NP *
costs NNS I-NP *
to TO B-VP (S(S*
carry VB I-VP *
the DT B-NP *
call NN I-NP *S)S)
COMMA , O *
passing VBG B-VP (S*
the DT B-NP *
rest NN I-NP *
of IN B-PP *
the DT B-NP *
money NN I-NP *
to TO B-PP *
the DT B-NP *
originator NN I-NP *
COMMA , O *
which WDT B-NP (S*
must MD B-VP (S*
cover VB I-VP *
advertising NN B-NP *
and CC O *
other JJ B-NP *
costs NNS I-NP *S)S)S)
. . O *S)

In IN B-PP (S*
recent JJ B-NP *
months NNS I-NP *
COMMA , O *
the DT B-NP *
technology NN I-NP *
has VBZ B-VP *
become VBN I-VP *
more RBR B-ADJP *
flexible JJ I-ADJP *
and CC O *
able JJ B-ADJP *
to TO B-VP (S*
handle VB I-VP *
much RB B-NP *
more JJR I-NP *
volume NN I-NP *S)
. . O *S)

Before IN O (S*
COMMA , O *
callers NNS B-NP (S*
of IN B-PP *
900 CD B-NP *
numbers NNS I-NP *
would MD B-VP *
just RB I-VP *
listen VB I-VP *
and CC O *
not RB B-VP *
talk VB I-VP *S)
COMMA , O *
or CC O *
they PRP B-NP (S*
'd MD B-VP *
vote VB I-VP *
`` `` O *
yes UH O *
'' '' O *
or CC O *
`` `` O *
no DT O *
'' '' O *
by IN B-PP *
calling VBG B-VP (S*
one CD B-NP *
of IN B-PP *
two CD B-NP *
numbers NNS I-NP *S)S)
. . O *S)

( -LRB- B-NP (S*
People NNS I-NP *
in IN B-PP *
the DT B-NP *
phone NN I-NP *
business NN I-NP *
call NN I-NP *
this DT B-NP (S*
technology NN I-NP *
`` `` O *
900 CD B-NP *
click NN I-NP *S)
. . O *
'' '' O *
) -RRB- O *S)

Now RB B-ADVP (S*
COMMA , O *
callers NNS B-NP (S*
are VBP B-VP *
led VBN I-VP *
through IN B-PP *
complex JJ B-NP *
menus NNS I-NP *
of IN B-PP *
choices NNS B-NP *
to TO B-VP (S*
retrieve VB I-VP *
information NN B-NP *
they PRP B-NP (S(S*
want VBP B-VP *S)S)S)S)
COMMA , O *
and CC O *
the DT B-NP (S*
hardware NN I-NP *
can MD B-VP *
process VB I-VP *
10COMMA000 CD B-NP *
calls VBZ I-NP *
in IN B-PP *
90 CD B-NP *
seconds NNS I-NP *S)
. . O *S)

Up IN B-PP (S*
to TO B-PP *
now RB B-ADVP *
COMMA , O *
900 CD B-NP *
numbers NNS I-NP *
have VBP B-VP *
mainly RB I-VP *
been VBN I-VP *
used VBN I-VP *
on IN B-PP *
local JJ O *
TV NN O *
stations NNS O *
and CC O *
cable NN B-NP *
channels NNS I-NP *
. . O *S)

MTV NNP B-NP (S*
used VBD B-VP *
one CD B-NP *
to TO B-VP (S*
give VB I-VP *
away RB B-PRT *
the DT B-NP *
house NN I-NP *
that DT O (S*
rock NN B-NP (S*
star NN I-NP *
Jon NNP I-NP *
Bon NNP I-NP *
Jovi NNP I-NP *
grew VBD B-VP *
up IN O *
in RB O *S)S)S)
. . O *S)

For IN B-PP (S(S*
several JJ B-NP *
years NNS I-NP *
COMMA , O *
Turner NNP B-NP *
Broadcasting NNP I-NP *
System NNP I-NP *
's POS B-NP *
Cable NNP I-NP *
News NNP I-NP *
Network NNP I-NP *
has VBZ O *
invited VBN O *
viewers NNS O (S*
to TO B-VP *
respond VB I-VP *
nightly JJ B-ADJP *
to TO B-PP *
topical JJ B-NP *
issues NNS I-NP *
( -LRB- O *
`` `` O (S*
Should MD O *
the DT O *
U.S. NNP O *
military JJ O *
intervene VB O *
in IN B-PP *
Panama NNP B-NP *
? . O *
'' '' O *S)
) -RRB- B-NP *S)S)
COMMA , B-NP *
but CC I-NP *
even RB I-NP (S*
the DT B-NP *
hottest JJS I-NP *
controversies NNS I-NP *
on IN B-PP *
CNN NNP B-NP *
log NN I-NP *
only RB O *
about IN O *
10COMMA000 CD O *
calls VBZ O *S)
. . O *S)

The DT B-NP (S*
newest JJS I-NP *
uses NNS I-NP *
of IN B-PP *
the DT B-NP *
900-interactive JJ I-NP *
technology NN I-NP *
demonstrate VB B-VP *
the DT B-NP *
growing VBG I-NP *
variety NN I-NP *
of IN B-PP *
applications NNS B-NP *
. . O *S)

Capital NNP B-NP (S*
Cities\/ABC NNP I-NP *
Inc. NNP I-NP *
COMMA , O *
CBS NNP B-NP *
Inc. NNP I-NP *
and CC O *
General NNP B-NP *
Electric NNP I-NP *
Co. NNP I-NP *
's POS B-NP *
National NNP I-NP *
Broadcasting NNP I-NP *
Co. NNP I-NP *
unit NN I-NP *
are VBP B-VP *
expected VBN I-VP *
to TO I-VP *
announce VB I-VP *
soon RB B-NP *
a DT B-NP *
joint JJ I-NP *
campaign NN I-NP *
to TO B-VP (S(S*
raise VB I-VP *
awareness NN B-NP *
about IN B-PP *
hunger NN B-NP *S)S)
. . O *S)

The DT B-NP (S(S*
subject NN I-NP *
will MD B-VP *
be VB I-VP *
written VBN I-VP *
into IN B-PP *
the DT B-NP *
plots NNS I-NP *
of IN B-PP *
prime-time JJ B-NP *
shows NNS I-NP *S)
COMMA , O *
and CC O *
viewers NNS B-NP (S*
will MD B-VP *
be VB I-VP *
given VBN I-VP *
a DT B-NP *
900 CD I-NP *
number NN I-NP *
to TO B-VP (S(S*
call VB I-VP *S)S)S)
. . O *S)

Callers NNS B-NP (S(S*
will MD B-VP *
be VB I-VP *
sent VBN I-VP *
educational JJ B-NP *
booklets NNS I-NP *S)
COMMA , O *
and CC O *
the DT B-NP (S*
call NN I-NP *
's POS B-NP *
modest JJ I-NP *
cost NN I-NP *
will MD B-VP *
be VB I-VP *
an DT B-NP *
immediate JJ I-NP *
method NN I-NP *
of IN B-PP *
raising VBG B-NP (S*
money NN I-NP *S)S)
. . O *S)

Other JJ B-NP (S*
network NN I-NP *
applications NNS I-NP *
have VBP O *
very RB O *
different JJ O *
goals NNS O *
. . O *S)

ABC NNP B-NP (S*
Sports NNPS I-NP *
was VBD B-VP *
looking VBG I-VP *
for IN B-PP *
ways NNS B-NP *
to TO B-VP (S(S*
lift VB I-VP *
deflated VBD O *
halftime NN B-NP *
ratings NNS I-NP *
for IN B-PP *
`` `` O *
Monday NNP B-NP *
Night NNP I-NP *
Football NNP I-NP *S)S)
. . O *
'' '' O *S)

Kurt NNP B-NP (S*
Sanger NNP I-NP *
COMMA , O *
ABC NNP B-NP *
Sports NNPS I-NP *
's POS B-NP *
marketing NN I-NP *
director NN I-NP *
COMMA , O *
says VBZ B-VP *
that IN B-SBAR (S*
now RB O (S*
`` `` O *
tens NNS O *
of IN O *
thousands NNS B-NP *
'' '' O *
of IN B-PP *
fans NNS B-NP *
call VBP B-VP *
its PRP$ B-NP *
900 CD I-NP *
number NN I-NP *
each DT B-NP *
week NN I-NP *
to TO B-VP (S*
vote VB I-VP *
for IN B-PP *
the DT B-NP *
best JJS I-NP *
punt NN I-NP *
return NN I-NP *
COMMA , O *
quarterback NN B-NP *
sack NN I-NP *
COMMA , O *
etc FW B-NP *S)S)S)
. . O *S)

Profit NN B-NP (S(S(S*
from IN B-PP *
the DT B-NP *
calls NNS I-NP *
goes VBZ B-VP *
to TO B-PP *
charity NN B-NP *S)
COMMA , O *
but CC O *
ABC NNP B-NP (S*
Sports NNP I-NP *
also RB B-ADVP *
uses VBZ B-VP *
the DT B-NP *
calls NNS I-NP *
as IN B-PP *
a DT B-NP *
sales NNS I-NP *
tool NN I-NP *S)S)
: : O *
After IN B-PP (S(S*
thanking VBG B-VP (S*
callers NNS B-NP *
for IN B-PP *
voting NN B-NP *S)
COMMA , O *
Frank NNP B-NP *
Gifford NNP I-NP *
offers VBZ B-VP *
a DT B-NP *
football NN I-NP *
videotape NN I-NP *
for IN B-PP *
$ $ B-NP *
19.95 CD I-NP *S)
COMMA , O *
and CC O *
5 NN B-NP (S*
% NN I-NP *
of IN B-PP *
callers NNS B-NP *
stay VBP B-VP *
on IN B-PP *
the DT B-NP *
line NN I-NP *
to TO B-VP (S*
order VB I-VP *
it PRP B-NP *S)S)S)
. . O *S)

Jackets NNS B-NP (S*
may MD B-VP *
be VB I-VP *
sold VBN I-VP *
next JJ B-ADJP *
. . O *S)

Meanwhile RB B-ADVP (S*
COMMA , O *
NBC NNP B-NP *
Sports NNPS I-NP *
recently RB B-ADVP *
began VBD B-VP *
`` `` O *
Scores NNS B-NP *
Plus NNP I-NP *
COMMA , O *
'' '' O *
a DT B-NP *
year-round JJ I-NP *
COMMA , I-NP *
24-hour JJ I-NP *
900 CD I-NP *
line NN I-NP *
providing VBG B-VP *
a DT B-NP *
complex JJ I-NP *
array NN I-NP *
of IN B-PP *
scores NNS B-NP *
COMMA , I-NP *
analysis NN I-NP *
and CC I-NP *
fan NN I-NP *
news NN I-NP *
. . O *S)

A DT B-NP (S*
spokesman NN I-NP *
said VBD B-VP *
its PRP$ B-NP (S(S*
purpose NN I-NP *
is VBZ B-VP *
`` `` O *
to TO B-VP (S*
bolster VB I-VP *
the DT B-NP *
impression NN I-NP *
that IN B-SBAR (S*
NBC NNP B-NP (S*
Sports NNPS I-NP *
is VBZ B-VP *
always RB O *
there RB B-ADVP *
for IN B-PP *
people NNS B-NP *S)S)S)S)S)
. . O *
'' '' O *S)

NBC NNP B-NP (S*
's POS B-NP *
`` `` I-NP *
On-Line NNP I-NP *
'' '' I-NP *
consumer NN I-NP *
minutes NNS I-NP *
have VBP B-VP *
increased VBN I-VP *
advertiser NN B-NP *
spending NN I-NP *
during IN B-PP *
the DT B-NP *
day NN I-NP *
COMMA , O *
the DT B-NP *
network NN I-NP *
's POS B-NP *
weakest JJS I-NP *
period NN I-NP *
. . O *S)

Each DT B-NP (S(S*
weekday NN I-NP *
matches VBZ B-VP *
a DT B-NP *
sponsor NN I-NP *
and CC O *
a DT B-NP *
topic NN I-NP *S)
: : O *
On IN B-PP (S*
Mondays NNPS B-NP *
COMMA , O *
Unilever NNP B-NP *
N.V. NNP I-NP *
's POS B-NP *
Lever NNP I-NP *
Bros. NNP I-NP *
sponsors NNS I-NP *
tips NNS I-NP *
on IN B-PP *
diet NN B-NP *
and CC I-NP *
exercise NN I-NP *
COMMA , O *
followed VBN B-VP *
by IN B-PP *
a DT B-NP *
30-second NNP I-NP *
Lever NNP I-NP *
Bros. NNP I-NP *
commercial JJ B-ADVP *S)
. . O *S)

Viewers NNS B-NP (S(S*
can MD B-VP *
call VB I-VP *
a DT B-NP *
900 CD I-NP *
number NN I-NP *
for IN B-PP *
additional JJ B-NP *
advice NN I-NP *
COMMA , O *
which WDT B-NP (S*
will MD B-VP (S*
be VB I-VP *
tailored VBN I-VP *
to TO O *
their PRP$ B-NP *
needs NNS I-NP *
based VBN B-VP *
on IN B-PP *
the DT B-NP *
numbers NNS I-NP *
they PRP B-NP (S(S*
punch VBP B-VP *S)S)S)S)S)
( -LRB- B-NP *
`` `` I-NP (S*
Press NNP I-NP (S*
one CD I-NP *
if IN B-SBAR (S*
you PRP B-NP (S*
're VBP B-VP *
pregnant JJ B-ADJP *S)S)S)
COMMA , O *
'' '' O *
etc FW B-NP *
. . O *S)
) -RRB- O *
. . O *S)

If IN B-SBAR (S(S*
the DT B-NP (S*
caller NN I-NP *
stays VBZ B-VP *
on IN B-PP *
the DT B-NP *
line NN I-NP *
and CC O *
leaves VBZ B-VP *
a DT B-NP *
name NN I-NP *
and CC I-NP *
address NN I-NP *
for IN B-PP *
the DT B-NP *
sponsor NN I-NP *S)S)
COMMA , O *
coupons NNS B-NP (S*
and CC O *
a DT B-NP *
newsletter NN I-NP *
will MD B-VP *
be VB I-VP *
mailed VBN I-VP *S)
COMMA , O *
and CC O *
the DT B-NP (S*
sponsor NN I-NP *
will MD B-VP *
be VB I-VP *
able JJ B-ADJP *
to TO B-VP (S*
gather VB I-VP *
a DT B-NP *
list NN I-NP *
of IN B-PP *
desirable JJ B-NP *
potential JJ I-NP *
customers NNS I-NP *S)S)
. . O *S)

Diane NNP B-NP (S*
Seaman NNP I-NP *
COMMA , O *
an DT B-NP *
NBC-TV NNP I-NP *
vice NN I-NP *
president NN I-NP *
COMMA , O *
says VBZ B-VP *
NBC NNP B-NP (S(S*
has VBZ B-VP *
been VBN I-VP *
able JJ B-ADJP *
to TO B-VP (S*
charge VB I-VP *
premium NN B-NP *
rates NNS I-NP *
for IN B-PP *
this DT B-NP *
ad NN I-NP *
time NN I-NP *S)S)S)
. . O *S)

She PRP B-NP (S(S*
would MD B-VP *
n't RB I-VP *
say VB I-VP *
what WP B-NP (S*
the DT B-NP (S*
premium NN I-NP *
is VBZ B-VP *S)S)S)
COMMA , O *
but CC O *
it PRP B-NP (S*
's VBZ B-VP *
believed VBD I-VP *
to TO I-VP *
be VB I-VP *
about IN B-NP *
40 CD I-NP *
% NN I-NP *
above IN B-PP *
regular JJ B-NP *
daytime JJ I-NP *
rates NNS I-NP *S)
. . O *S)

`` `` O (S*
We PRP B-NP (S*
were VBD B-VP *
able JJ B-ADJP *
to TO B-VP (S*
get VB I-VP *
advertisers NNS B-NP (S*
to TO B-VP *
use VB I-VP *
their PRP$ B-NP *
promotion NN I-NP *
budget NN I-NP *
for IN B-PP *
this DT B-NP *
COMMA , O *
because IN B-SBAR (S*
they PRP B-NP (S*
get VBP B-VP *
a DT B-NP *
chance NN I-NP *
to TO B-VP (S(S*
do VB I-VP *
couponing NN B-NP *S)S)S)S)S)S)S)
COMMA , O *
'' '' O *
says VBZ B-VP *
Ms. NNP B-NP *
Seaman NNP I-NP *
. . O *S)

`` `` O (S*
And CC O *
we PRP B-NP *
were VBD B-VP *
able JJ B-ADJP *
to TO B-VP (S*
attract VB I-VP *
some DT B-NP *
new JJ I-NP *
advertisers NNS I-NP *
because IN B-SBAR (S*
this DT B-NP (S*
is VBZ B-VP *
something NN B-NP *
new JJ B-ADJP *S)S)S)
. . O *
'' '' O *S)

Mr. NNP B-NP (S*
Parks NNP I-NP *
of IN B-PP *
Call NNP B-NP *
Interactive NNP I-NP *
says VBZ B-VP *
TV NN B-NP (S(S*
executives NNS I-NP *
are VBP B-VP *
considering VBG I-VP *
the DT B-NP *
use NN I-NP *
of IN B-PP *
900 CD B-NP *
numbers NNS I-NP *
for IN B-PP *
`` `` O *
talk NN B-NP *
shows VBZ B-VP *
COMMA , O *
game NN B-NP *
shows VBZ B-VP *
COMMA , O *
news NN O *
and CC O *
opinion NN O *
surveys NNS O *S)S)
. . O *
'' '' O *S)

Experts NNS B-NP (S*
are VBP B-VP *
predicting VBG I-VP *
a DT B-NP *
big JJ I-NP *
influx NN I-NP *
of IN B-PP *
new JJ B-NP *
shows NNS I-NP *
in IN B-PP *
1990 CD B-NP *
COMMA , O *
when WRB B-ADVP (S*
a DT B-NP (S*
service NN I-NP *
called VBN B-VP *
`` `` B-NP *
automatic JJ I-NP *
number NN I-NP *
information NN I-NP *
'' '' O *
will MD B-VP *
become VB I-VP *
widely RB B-ADJP *
available JJ I-ADJP *S)S)
. . O *S)

This DT B-NP (S(S*
service NN I-NP *
identifies VBZ B-VP *
each DT B-NP *
caller NN I-NP *
's POS B-NP *
phone NN I-NP *
number NN I-NP *S)
COMMA , O *
and CC O *
it PRP B-NP (S*
can MD B-VP *
be VB I-VP *
used VBN I-VP *
to TO B-VP (S*
generate VB I-VP *
instant NN B-NP *
mailing NN I-NP *
lists NNS I-NP *S)S)
. . O *S)

`` `` O (S(S*
Hard NNP B-NP *
Copy NNP I-NP *
COMMA , O *
'' '' O *
the DT B-NP *
new JJ I-NP *
syndicated VBN I-NP *
tabloid NN I-NP *
show NN I-NP *
from IN B-PP *
Paramount NNP B-NP *
Pictures NNPS I-NP *
COMMA , O *
will MD B-VP *
use VB I-VP *
its PRP$ B-NP *
900 CD I-NP *
number NN I-NP *
for IN B-PP *
additional JJ B-NP *
purposes NNS I-NP *
that WDT B-NP (S*
include VBP B-VP (S*
research NN B-NP *S)S)S)
COMMA , O *
says VBZ B-VP *
executive JJ B-NP *
producer NN I-NP *
Mark NNP I-NP *
B. NNP I-NP *
von NNP I-NP *
S. NNP I-NP *
Monsky NNP I-NP *
. . O *S)

`` `` O (S*
For IN B-PP (S*
a DT B-NP *
piece NN I-NP *
on IN B-PP *
local JJ B-NP *
heroes NNS I-NP *
of IN B-PP *
World NNP B-NP *
War NNP I-NP *
II NNP I-NP *
COMMA , O *
we PRP B-NP *
can MD B-VP *
ask VB I-VP *
people NNS B-NP *
to TO B-VP (S*
leave VB I-VP *
the DT B-NP *
name NN I-NP *
and CC I-NP *
number NN I-NP *
of IN B-PP *
anyone NN B-NP *
they PRP B-NP (S(S(S*
know VBP B-VP *S)S)
who WP B-NP (S*
won VBD B-VP (S*
a DT B-NP *
medal NN I-NP *S)S)S)S)S)
COMMA , O *
'' '' O *
he PRP B-NP *
says VBZ B-VP *
. . O *S)

`` `` O (S*
That DT B-NP *
'll MD B-VP *
save VB I-VP *
us PRP B-NP *
time NN O *
and CC O *
get VB B-VP *
people NNS B-NP *
involved VBN B-VP *
. . O *
'' '' O *S)

But CC O (S*
Mr. NNP B-NP *
Monsky NNP I-NP *
sees VBZ B-VP *
much RB O *
bigger JJR O *
changes NNS O *
ahead RB B-ADVP *
. . O *S)

`` `` O (S*
These DT B-NP (S*
are VBP B-VP *
just RB O *
baby NN O *
steps NNS O *
toward IN B-PP *
real JJ B-NP *
interactive JJ I-NP *
video NN I-NP *
COMMA , O *
which WDT B-NP (S*
I PRP B-NP (S*
believe VBP B-VP *
will MD B-VP (S(S*
be VB I-VP *
the DT B-NP *
biggest JJS I-NP *
thing NN I-NP *
yet RB B-ADVP *
to TO B-VP (S(S*
affect VB I-VP *
television NN B-NP *S)S)S)S)S)S)S)
COMMA , O *
'' '' O *
he PRP B-NP *
says VBZ B-VP *
. . O *S)

Although IN B-SBAR (S(S*
it PRP B-NP (S*
would MD B-VP *
be VB I-VP *
costly JJ B-ADJP *
to TO B-VP (S*
shoot VB I-VP *
multiple JJ B-NP *
versions NNS I-NP *S)S)S)
COMMA , O *
TV NN B-NP *
programmers NNS I-NP *
could MD B-VP *
let VB I-VP *
audiences NNS B-NP (S*
vote VB B-VP *
on IN B-PP *
different JJ B-NP *
endings NNS I-NP *
for IN B-PP *
a DT B-NP *
movie NN I-NP *S)
. . O *S)

Fox NNP B-NP (S*
Broadcasting NNP I-NP *
experimented VBD B-VP *
with IN B-PP *
this DT B-NP *
concept NN I-NP *
last JJ B-NP *
year NN I-NP *
when WRB B-ADVP (S*
viewers NNS B-NP (S*
of IN B-PP *
`` `` O *
Married VBN B-VP *
... : O *
With IN B-PP *
Children NNS B-NP *
'' '' O *
voted VBD B-VP *
on IN B-PP *
whether IN B-SBAR (S*
Al NNP B-NP (S*
should MD B-VP *
say VB I-VP *
`` `` O (S*
I PRP B-NP *
love VBP B-VP *
you PRP B-NP *
'' '' O *S)
to TO B-PP *
Peg NNP B-NP *
on IN B-PP *
Valentine NNP B-NP *
's POS B-NP *
Day NNP I-NP *S)S)S)S)
. . O *S)

Someday RB B-ADVP (S*
COMMA , O *
viewers NNS B-NP *
may MD B-VP *
also RB I-VP *
choose VB I-VP *
different JJ B-NP *
depths NNS I-NP *
of IN B-PP *
news NN B-NP *
coverage NN I-NP *
. . O *S)

`` `` O (S*
A DT B-NP (S*
menu NN I-NP *
by IN B-PP *
phone NN B-NP *
could MD B-VP *
let VB I-VP *
you PRP B-NP (S*
decide VB B-VP *
COMMA , O *
` `` O (S*
I PRP B-NP (S*
'm VBP B-VP *
interested JJ B-ADJP *
in IN B-PP *
just RB O *
the DT B-NP *
beginning NN I-NP *
of IN B-PP *
story NN B-NP *
No. NN I-NP *
1 CD I-NP *S)
COMMA , O *
and CC O *
I PRP B-NP (S*
want VBP B-VP *
story NN B-NP *
No. NN I-NP *
2 CD I-NP *
in IN B-PP *
depth NN B-NP *S)S)S)S)
COMMA , O *
'' '' O *
Mr. NNP B-NP *
Monsky NNP I-NP *
says VBZ B-VP *
. . O *S)

`` `` O (S*
You PRP B-NP *
'll MD B-VP *
start VB I-VP *
to TO I-VP *
see VB I-VP *
shows VBZ B-VP *
where WRB B-ADVP (S*
viewers NNS B-NP (S*
program VBP B-VP *
the DT B-NP *
program NN I-NP *S)S)
. . O *S)

Integrated NNP B-NP (S*
Resources NNP I-NP *
Inc. NNP I-NP *
COMMA , O *
the DT B-NP *
troubled JJ I-NP *
financial-services NNS I-NP *
company NN I-NP *
that WDT B-NP (S*
has VBZ B-VP (S*
been VBN I-VP *
trying VBG I-VP *
to TO I-VP *
sell VB I-VP *
its PRP$ B-NP *
core NN I-NP *
companies NNS I-NP *
to TO B-VP (S*
restructure VB I-VP *
debt NN B-NP *S)S)S)
COMMA , O *
said VBD B-VP *
talks NNS B-NP (S(S*
with IN B-PP *
a DT B-NP *
potential JJ I-NP *
buyer NN I-NP *
ended VBD B-VP *S)S)
. . O *S)

Integrated NNP B-NP (S*
did VBD B-VP *
n't RB I-VP *
identify VB I-VP *
the DT B-NP *
party NN I-NP *
or CC O *
say VBP B-VP *
why WRB B-ADVP (S*
the DT B-NP (S*
talks NNS I-NP *
failed VBD B-VP *S)S)
. . O *S)

Last JJ B-NP (S*
week NN I-NP *
another DT B-NP *
potential JJ I-NP *
buyer NN I-NP *
COMMA , O *
Whitehall NNP B-NP *
Financial NNP I-NP *
Group NNP I-NP *
-- : O *
which WDT B-NP (S*
had VBD B-VP (S*
agreed VBN I-VP *
in IN B-PP *
August NNP B-NP *
to TO B-VP (S*
purchase VB I-VP *
most RBS B-NP *
of IN B-PP *
Integrated NNP B-NP *
's POS B-NP *
core NN I-NP *
companies NNS I-NP *
for IN B-PP *
$ $ B-NP *
310 CD I-NP *
million CD I-NP *S)S)S)
-- : O *
ended VBD B-VP *
talks NNS B-NP *
with IN B-PP *
Integrated NNP B-NP *
. . O *S)

Integrated NNP B-NP (S*
said VBD B-VP *
that IN B-SBAR (S(S*
it PRP B-NP (S*
would MD B-VP *
continue VB I-VP *
to TO I-VP *
pursue VB I-VP *
`` `` O *
other JJ O *
alternatives NNS O *
'' '' O *
to TO B-VP (S*
sell VB I-VP *
the DT B-NP *
five CD I-NP *
core NN I-NP *
companies NNS I-NP *S)S)S)
and CC O *
that IN B-SBAR (S*
a DT B-NP (S*
group NN I-NP *
of IN B-PP *
senior JJ B-NP *
executives NNS I-NP *
plans NNS I-NP *
to TO B-VP *
make VB I-VP *
a DT B-NP *
proposal NN I-NP *
to TO B-VP (S*
purchase VB I-VP *
three CD B-NP *
of IN B-PP *
the DT B-NP *
companies NNS I-NP *
-- : O *
Integrated NNP B-NP *
Resources NNP I-NP *
Equity NNP I-NP *
Corp. NNP I-NP *
COMMA , O *
Resources NNP B-NP *
Trust NNP I-NP *
Co. NNP I-NP *
and CC O *
Integrated NNP B-NP *
Resources NNP I-NP *
Asset NNP I-NP *
Management NNP I-NP *
Corp NNP I-NP *S)S)S)S)
. . O *S)

A DT B-NP (S*
price NN I-NP *
was VBD B-VP *
n't RB I-VP *
disclosed VBN I-VP *
. . O *S)

Integrated NNP B-NP (S*
also RB B-ADVP *
said VBD B-VP *
it PRP B-NP (S(S*
expects VBZ B-VP *
to TO I-VP *
report VB I-VP *
a DT B-NP *
second-quarter JJ I-NP *
loss NN I-NP *
wider JJR B-ADJP *
than IN B-PP *
the DT B-NP *
earlier JJR I-NP *
estimate NN I-NP *
of IN B-PP *
about RB B-NP *
$ $ I-NP *
600 CD I-NP *
million CD I-NP *S)S)
. . O *S)

The DT B-NP (S*
company NN I-NP *
did VBD B-VP *
n't RB I-VP *
disclose VB I-VP *
the DT B-NP *
new JJ I-NP *
estimate NN I-NP *
but CC O *
said VBD B-VP *
the DT B-NP (S(S*
change NN I-NP *
was VBD B-VP *
related VBN I-VP *
to TO B-PP *
Integrated NNP B-NP *
's POS B-NP *
failure NN I-NP *
to TO B-VP (S*
sell VB I-VP *
its PRP$ B-NP *
core NN I-NP *
businesses NNS I-NP *S)
COMMA , O *
as RB B-CONJP *
well RB I-CONJP *
as IN I-CONJP *
`` `` O *
other JJ B-NP *
events NNS I-NP *
COMMA , O *
'' '' O *
which WDT B-NP (S*
it PRP B-NP (S*
did VBD B-VP *
n't RB I-VP *
detail VB I-VP *S)S)
COMMA , O *
that WDT B-NP (S*
occurred VBD B-VP (S*
after IN B-PP *
its PRP$ B-NP *
announcement NN I-NP *
last JJ B-NP *
week NN I-NP *
that IN B-SBAR (S*
it PRP B-NP (S*
was VBD B-VP *
in IN B-PP *
talks NNS B-NP *
with IN B-PP *
the DT B-NP *
unidentified JJ I-NP *
prospective JJ I-NP *
buyer NN I-NP *S)S)S)S)S)S)
. . O *S)

Meanwhile RB B-ADVP (S*
COMMA , O *
a DT B-NP *
number NN I-NP *
of IN B-PP *
top JJ B-NP *
sales NNS I-NP *
producers NNS I-NP *
from IN B-PP *
Integrated NNP B-NP *
Resources NNP I-NP *
Equity NNP I-NP *
will MD B-VP *
meet VB I-VP *
this DT B-NP *
afternoon NN I-NP *
in IN B-PP *
Chicago NNP B-NP *
to TO B-VP (S*
discuss VB I-VP *
their PRP$ B-NP *
options NNS I-NP *S)
. . O *S)

The DT B-NP (S*
unit NN I-NP *
is VBZ B-VP *
a DT B-NP *
loosely RB I-NP *
constructed VBN I-NP *
group NN I-NP *
of IN B-PP *
about IN B-NP *
3COMMA900 CD I-NP *
independent JJ I-NP *
brokers NNS I-NP *
and CC O *
financial JJ B-NP *
planners NNS I-NP *
who WP B-NP (S*
sell VBP B-VP (S*
insurance NN B-NP *
COMMA , O *
annuities NNS B-NP *
COMMA , O *
limited JJ B-NP *
partnerships NNS I-NP *
COMMA , O *
mutual JJ B-NP *
funds NNS I-NP *
and CC O *
other JJ B-NP *
investments NNS I-NP *
for IN B-PP *
Integrated NNP B-NP *
and CC O *
other JJ B-NP *
firms NNS I-NP *S)S)
. . O *S)

The DT B-NP (S*
sales NNS I-NP *
force NN I-NP *
is VBZ B-VP *
viewed VBN I-VP *
as IN B-PP *
a DT B-NP *
critical JJ I-NP *
asset NN I-NP *
in IN B-PP *
Integrated NNP B-NP *
's POS B-NP *
attempt NN I-NP *
to TO B-VP (S*
sell VB I-VP *
its PRP$ B-NP *
core NN I-NP *
companies NNS I-NP *S)
. . O *S)

Whitehall NNP B-NP (S*
cited VBD B-VP *
concerns NNS B-NP *
about IN B-PP *
how WRB O (S*
long JJ B-NP *
Integrated NNP I-NP (S*
would MD B-VP *
be VB I-VP *
able JJ B-ADJP *
to TO B-VP (S*
hold VB I-VP *
together RB O *
the DT B-NP *
sales NNS I-NP *
force NN I-NP *S)S)S)
as IN B-PP *
one CD O *
reason VB O *
its PRP$ B-NP (S(S*
talks NNS I-NP *
with IN B-PP *
Integrated NNP B-NP *
failed VBD B-VP *S)S)
. . O *S)

In IN B-PP (S*
composite JJ B-NP *
trading NN I-NP *
on IN B-PP *
the DT B-NP *
New NNP I-NP *
York NNP I-NP *
Stock NNP I-NP *
Exchange NNP I-NP *
yesterday NN I-NP *
COMMA , O *
Integrated NNP B-NP *
closed VBD B-VP *
at IN B-PP *
$ $ B-NP *
1.25 CD I-NP *
a DT B-NP *
share NN I-NP *
COMMA , O *
down RB B-ADVP *
25 CD B-NP *
cents NNS I-NP *
. . O *S)

Integrated NNP B-NP (S*
has VBZ B-VP *
been VBN I-VP *
struggling VBG I-VP *
to TO I-VP *
avoid VB I-VP *
a DT B-NP *
bankruptcy-law NN I-NP *
filing NN I-NP *
since IN B-PP *
June NNP B-NP *
COMMA , O *
when WRB B-ADVP (S*
it PRP B-NP (S*
failed VBD B-VP *
to TO I-VP *
make VB I-VP *
interest NN B-NP *
payments NNS I-NP *
on IN B-PP *
nearly RB B-NP *
$ $ I-NP *
1 CD I-NP *
billion CD I-NP *
of IN B-PP *
debt NN B-NP *S)S)
. . O *S)

Integrated NNP O (S*
senior JJ O *
and CC O *
junior JJ B-NP *
creditors NNS I-NP *
are VBP B-VP *
owed VBN I-VP *
a DT B-NP *
total NN I-NP *
of IN B-PP *
about RB B-NP *
$ $ I-NP *
1.8 CD I-NP *
billion CD I-NP *
. . O *S)

AN DT B-NP (S*
EARTHQUAKE NN I-NP *
STRUCK VBD B-VP *
Northern NNP B-NP *
California NNP I-NP *
COMMA , O *
killing VBG B-VP (S*
more JJR B-NP *
than IN I-NP *
50 CD I-NP *
people NNS I-NP *S)
. . O *S)

The DT B-NP (S*
violent JJ I-NP *
temblor NN I-NP *
COMMA , O *
which WDT B-NP (S*
lasted VBD B-VP (S*
about IN B-NP *
15 CD I-NP *
seconds NNS I-NP *
and CC O *
registered VBN B-VP *
6.9 CD B-NP *
on IN B-PP *
the DT B-NP *
Richter NNP I-NP *
scale NN I-NP *S)S)
COMMA , O *
also RB O *
caused VBN B-VP *
the DT B-NP *
collapse NN I-NP *
of IN B-PP *
a DT B-NP *
30-foot JJ I-NP *
section NN I-NP *
of IN B-PP *
the DT B-NP *
San NNP I-NP *
Francisco-Oakland NNP I-NP *
Bay NNP I-NP *
Bridge NNP I-NP *
and CC O *
shook VBD B-VP *
Candlestick NNP B-NP *
Park NNP I-NP *
. . O *S)

The DT B-NP (S*
tremor NN I-NP *
was VBD B-VP *
centered VBN I-VP *
near IN B-PP *
Hollister NNP B-NP *
COMMA , O *
southeast RB O *
of IN B-PP *
San NNP B-NP *
Francisco NNP I-NP *
COMMA , O *
and CC O *
was VBD B-VP *
felt VBN I-VP *
as RB B-ADVP *
far RB I-ADVP *
as IN B-PP *
200 CD B-NP *
miles NNS I-NP *
away RB B-ADVP *
. . O *S)

Numerous JJ B-NP (S*
injuries NNS I-NP *
were VBD B-VP *
reported VBN I-VP *
. . O *S)

Some DT B-NP (S(S*
buildings NNS I-NP *
collapsed VBD B-VP *S)
COMMA , O *
gas NN O (S*
and CC O *
water NN O *
lines NNS O *
ruptured VBN B-VP *S)
and CC O *
fires NNS O (S*
raged VBD B-VP *S)
. . O *S)

The DT B-NP (S*
quake NN I-NP *
COMMA , O *
which WDT B-NP (S*
also RB B-ADVP (S*
caused VBN O *
damage NN O *
in IN B-PP *
San NNP B-NP *
Jose NNP I-NP *
and CC O *
Berkeley NNP B-NP *S)S)
COMMA , O *
knocked VBD B-VP *
out IN B-PP *
electricity NN B-NP *
and CC I-NP *
telephones NNS I-NP *
COMMA , O *
cracked VBD B-VP *
roadways NNS B-NP *
and CC O *
disrupted VBN O *
subway NN O *
service NN O *
in IN B-PP *
the DT B-NP *
Bay NNP I-NP *
Area NNP I-NP *
. . O *S)

Major JJ B-NP (S*
injuries NNS I-NP *
were VBD B-VP *
n't RB I-VP *
reported VBN I-VP *
at IN B-PP *
Candlestick NNP B-NP *
Park NNP I-NP *
COMMA , O *
where WRB B-ADVP (S*
the DT B-NP (S(S*
third JJ I-NP *
game NN I-NP *
of IN B-PP *
baseball NN B-NP *
's POS B-NP *
World NNP I-NP *
Series NNP I-NP *
was VBD B-VP *
canceled VBN I-VP *S)
and CC O *
fans NNS B-NP (S*
evacuated VBN B-VP *
from IN B-PP *
the DT B-NP *
stadium NN I-NP *S)S)S)
. . O *S)

Bush NNP B-NP (S*
vowed VBD B-VP *
to TO I-VP *
veto VB I-VP *
a DT B-NP *
bill NN I-NP *
allowing VBG B-VP *
federal JJ B-NP *
financing NN I-NP *
for IN B-PP *
abortions NNS B-NP *
in IN B-PP *
cases NNS B-NP *
of IN B-PP *
rape NN B-NP *
and CC I-NP *
incest NN I-NP *
COMMA , O *
saying VBG B-VP (S*
tax NN B-NP (S(S*
dollars NNS I-NP *
should MD B-VP *
n't RB I-VP *
be VB I-VP *
used VBN I-VP *
to TO O (S*
`` `` O *
compound NN O *
a DT B-NP *
violent JJ I-NP *
act NN I-NP *
with IN B-PP *
the DT B-NP *
taking NN I-NP *
of IN B-PP *
an DT B-NP *
unborn JJ I-NP *
life NN I-NP *S)S)S)S)
. . O *
'' '' O *S)

His PRP$ B-NP (S*
pledge NN I-NP *
COMMA , O *
in IN B-PP *
a DT B-NP *
letter NN I-NP *
to TO B-PP *
Democratic NNP B-NP *
Sen. NNP I-NP *
Byrd NNP I-NP *
COMMA , O *
came VBD B-VP *
ahead RB B-ADVP *
of IN B-PP *
an DT B-NP *
expected VBN I-NP *
Senate NNP I-NP *
vote NN I-NP *
on IN B-PP *
spending NN B-NP *
legislation NN I-NP *
containing VBG B-VP *
the DT B-NP *
provision NN I-NP *
. . O *S)

East NNP B-NP (S*
Germany NNP I-NP *
's POS B-NP *
Politburo NNP I-NP *
met VBD B-VP *
amid IN B-PP *
speculation NN B-NP *
that IN B-NP (S*
the DT B-NP (S*
ruling NN I-NP *
body NN I-NP *
would MD B-VP *
oust VB I-VP *
hard-line JJ B-NP *
leader NN I-NP *
Honecker NNP B-NP *
COMMA , O *
whose WP$ B-NP (S*
rule NN I-NP *
has VBZ B-VP (S*
been VBN I-VP *
challenged VBN I-VP *
by IN B-PP *
mass NN B-NP *
emigration NN I-NP *
and CC O *
calls VBZ B-VP *
for IN B-PP *
democratic JJ B-NP *
freedoms NNS I-NP *S)S)S)S)
. . O *S)

Meanwhile RB B-ADVP (S*
COMMA , O *
about IN B-NP *
125 CD I-NP *
refugees NNS I-NP *
flew VBD B-VP *
to TO B-PP *
Duesseldorf NNP B-NP *
COMMA , O *
West NNP B-NP *
Germany NNP I-NP *
COMMA , O *
from IN B-PP *
Warsaw NNP B-NP *
COMMA , O *
the DT B-NP *
first JJ I-NP *
airlift NN I-NP *
in IN B-PP *
East NNP B-NP *
Germany NNP I-NP *
's POS B-NP *
refugee NN I-NP *
exodus NN I-NP *
. . O *S)

The DT B-NP (S*
World NNP I-NP *
Psychiatric NNP I-NP *
Association NNP I-NP *
voted VBD B-VP *
at IN B-PP *
an DT B-NP *
Athens NNP I-NP *
parley NN I-NP *
to TO B-VP (S*
conditionally RB I-VP *
readmit VB I-VP *
the DT B-NP *
Soviet NNP I-NP *
Union NNP I-NP *S)
. . O *S)

Moscow NNP B-NP (S*
COMMA , O *
which WDT B-NP (S*
left VBD B-VP (S*
the DT B-NP *
group NN I-NP *
in IN B-PP *
1983 CD B-NP *
to TO B-VP (S*
avoid VB I-VP *
explusion NN B-NP *
over IN B-PP *
allegations NNS B-NP *
that IN O (S*
political JJ B-NP (S*
dissidents NNS I-NP *
were VBD B-VP *
being VBG I-VP *
certified VBN I-VP *
as IN B-PP *
insane JJ B-ADJP *S)S)S)S)S)
COMMA , O *
could MD B-VP *
be VB I-VP *
suspended VBN I-VP *
if IN B-PP (S*
the DT B-NP (S*
misuse NN I-NP *
of IN B-PP *
psychiatry NN B-NP *
against IN B-PP *
dissenters NNS B-NP *
is VBZ B-VP *
discovered VBN I-VP *
during IN B-PP *
a DT B-NP *
review NN I-NP *
within IN B-PP *
a DT B-NP *
year NN I-NP *S)S)
. . O *S)

NASA NNP B-NP (S*
postponed VBD B-VP *
the DT B-NP *
liftoff NN I-NP *
of IN B-PP *
the DT B-NP *
space NN I-NP *
shuttle NN I-NP *
Atlantis NNP I-NP *
because IN B-PP *
of IN I-PP *
rain NN B-NP *
near IN B-PP *
the DT B-NP *
site NN I-NP *
of IN B-PP *
the DT B-NP *
launch NN I-NP *
pad NN I-NP *
in IN B-PP *
Cape NNP B-NP *
Canaveral NNP I-NP *
COMMA , O *
Fla NNP B-NP *
. . O *S)

The DT B-NP (S*
flight NN I-NP *
was VBD B-VP *
rescheduled VBN I-VP *
for IN B-PP *
today NN B-NP *
. . O *S)

The DT B-NP (S*
spacecraft NN I-NP *
's POS B-NP *
five CD I-NP *
astronauts NNS I-NP *
are VBP B-VP *
to TO I-VP *
dispatch VB I-VP *
the DT B-NP *
nuclear-powered JJ I-NP *
Galileo NNP I-NP *
space NN I-NP *
probe NN I-NP *
on IN B-PP *
an DT B-NP *
exploratory JJ I-NP *
mission NN I-NP *
to TO B-PP *
Jupiter NNP B-NP *
. . O *S)

Senate NNP B-NP (S*
Democratic JJ I-NP *
leaders NNS I-NP *
said VBD B-VP *
they PRP B-NP (S(S*
had VBD O *
enough RB O *
votes VBZ B-VP *
to TO I-VP (S(S*
defeat VB I-VP *
a DT B-NP *
proposed VBN I-NP *
constitutional JJ I-NP *
amendment NN I-NP *
to TO B-VP (S(S*
ban VB I-VP *
flag NN B-NP *
burning VBG I-NP *S)S)S)S)S)S)
. . O *S)

The DT B-NP (S*
amendment NN I-NP *
is VBZ B-VP *
aimed VBN I-VP *
at IN B-PP *
skirting VBG B-VP (S*
a DT B-NP *
Supreme NNP I-NP *
Court NNP I-NP *
ruling NN I-NP *
that WDT B-NP (S*
threw VBD B-VP (S*
out RP B-PRT *
the IN B-NP *
conviction NN I-NP *
of IN B-PP *
a DT B-NP *
Texas NNP I-NP *
flag-burner NN I-NP *
on IN B-PP *
grounds NNS B-NP *
that IN B-SBAR (S*
his PRP$ B-NP (S*
freedom NN I-NP *
of IN B-PP *
speech NN B-NP *
was VBD B-VP *
violated VBN I-VP *S)S)S)S)S)
. . O *S)

Federal JJ B-NP (S*
researchers NNS I-NP *
said VBD B-VP *
lung-cancer NN B-NP (S(S*
mortality NN I-NP *
rates NNS I-NP *
for IN B-PP *
people NNS B-NP *
under IN B-PP *
45 CD B-NP *
years NNS I-NP *
of IN B-PP *
age NN B-NP *
have VBP B-VP *
begun VBN I-VP *
to TO I-VP *
decline VB I-VP *
COMMA , O *
particularly RB B-ADVP *
for IN B-PP *
white JJ B-NP *
males NNS I-NP *S)S)
. . O *S)

The DT B-NP (S*
National NNP I-NP *
Cancer NNP I-NP *
Institute NNP I-NP *
also RB B-ADVP *
projected VBD B-VP *
that IN B-SBAR (S*
overall JJ B-NP (S*
U.S. NNP I-NP *
mortality NN I-NP *
rates NNS I-NP *
from IN B-PP *
lung NN B-NP *
cancer NN I-NP *
should MD B-VP *
begin VB I-VP *
to TO I-VP *
drop VB I-VP *
in IN B-PP *
several JJ B-NP *
years NNS I-NP *
if IN B-PP (S*
cigarette NN B-NP (S*
smoking NN I-NP *
continues VBZ B-VP *
to TO I-VP *
abate VB I-VP *S)S)S)S)
. . O *S)

Bush NNP B-NP (S*
met VBD B-VP *
with IN B-PP *
South NNP B-NP *
Korean NNP I-NP *
President NNP I-NP *
Roh NNP I-NP *
COMMA , O *
who WP B-NP (S*
indicated VBD B-VP (S*
that IN B-SBAR (S*
Seoul NNP B-NP (S*
plans VBZ B-VP *
to TO I-VP *
further VB I-VP *
ease NN B-NP *
trade NN I-NP *
rules NNS I-NP *
to TO B-VP (S*
ensure VB I-VP *
that IN O (S*
its PRP$ B-NP (S*
economy NN I-NP *
becomes VBZ B-VP *
as RB B-ADJP *
open JJ I-ADJP *
as IN B-PP *
the DT B-NP *
other JJ I-NP *
industrialized VBN I-NP *
nations NNS I-NP *
by IN B-PP *
the DT B-NP *
mid-1990s NNS I-NP *S)S)S)S)S)S)S)
. . O *S)

Bush NNP B-NP (S*
assured VBD B-VP *
Roh NNP B-NP *
that IN B-SBAR (S*
the DT B-NP (S*
U.S. NNP I-NP *
would MD B-VP *
stand VB I-VP *
by IN B-PP *
its PRP$ B-NP *
security NN I-NP *
commitments NNS I-NP *
`` `` O *
as RB B-ADVP *
long RB I-ADVP *
as IN B-PP (S*
there EX B-NP (S*
is VBZ B-VP *
a DT B-NP *
threat NN I-NP *
'' '' O *
from IN B-PP *
Communist NNP B-NP *
North NNP I-NP *
Korea NNP I-NP *S)S)S)S)
. . O *S)

The DT B-NP (S*
Bush NNP I-NP *
administration NN I-NP *
is VBZ B-VP *
seeking VBG I-VP *
an DT B-NP *
understanding NN I-NP *
with IN B-PP *
Congress NNP B-NP *
to TO B-VP (S(S*
ease VB I-VP *
restrictions NNS B-NP *
on IN B-PP *
U.S. NNP B-NP *
involvement NN I-NP *
in IN B-PP *
foreign JJ B-NP *
coups NNS I-NP *
that WDT B-NP (S*
might MD B-VP (S*
result VB I-VP *
in IN B-PP *
the DT B-NP *
death NN I-NP *
of IN B-PP *
a DT B-NP *
country NN I-NP *
's POS B-NP *
leader NN I-NP *S)S)S)S)
. . O *S)

A DT B-NP (S*
White NNP I-NP *
House NNP I-NP *
spokesman NN I-NP *
said VBD B-VP *
that IN B-SBAR (S*
while IN B-SBAR (S(S*
Bush NNP B-NP (S*
would MD B-VP *
n't RB I-VP *
alter VB I-VP *
a DT B-NP *
longstanding JJ I-NP *
ban NN I-NP *
on IN B-PP *
such JJ B-NP *
involvement NN I-NP *S)S)
COMMA , O *
`` `` O *
there EX B-NP *
's VBZ B-VP *
a DT B-NP *
clarification NN I-NP *
needed VBN B-VP *
'' '' O *
on IN B-PP *
its PRP$ B-NP *
interpretation NN I-NP *S)S)
. . O *S)

India NNP B-NP (S*
's POS B-NP *
Gandhi NNP I-NP *
called VBD B-VP *
for IN B-PP *
parliamentary JJ B-NP *
elections NNS I-NP *
next JJ B-NP *
month NN I-NP *
. . O *S)

The DT B-NP (S*
balloting NN I-NP *
COMMA , O *
considered VBD B-VP *
a DT B-NP *
test NN I-NP *
for IN B-PP *
the DT B-NP *
prime JJ I-NP *
minister NN I-NP *
and CC O *
the DT B-NP *
ruling NN I-NP *
Congress NNP B-NP *
( -LRB- O *
I PRP B-NP *
) -RRB- O *
Party NNP B-NP *
COMMA , O *
comes VBZ B-VP *
amid IN B-PP *
charges NNS B-NP *
of IN B-PP *
inept JJ B-NP *
leadership NN I-NP *
and CC O *
government NN B-NP *
corruption NN I-NP *
. . O *S)

Gandhi NNP B-NP (S*
's POS B-NP *
family NN I-NP *
has VBZ B-VP *
ruled VBN I-VP *
independent JJ B-NP *
India NNP I-NP *
for IN B-PP *
all DT B-NP *
but CC I-NP *
five CD I-NP *
years NNS I-NP *
of IN B-PP *
its PRP$ B-NP *
42-year JJ I-NP *
history NN I-NP *
. . O *S)

The DT B-NP (S*
Soviet NNP I-NP *
Union NNP I-NP *
abstained VBD B-VP *
from IN B-PP *
a DT B-NP *
U.N. NNP I-NP *
General NNP I-NP *
Assembly NNP I-NP *
vote NN I-NP *
to TO B-VP (S(S*
reject VB I-VP *
Israel NNP B-NP *
's POS B-NP *
credentials NNS I-NP *S)S)
. . O *S)

It PRP B-NP (S*
was VBD B-VP *
the DT B-NP *
first JJ I-NP *
time NN I-NP *
in IN B-PP *
seven CD B-NP *
years NNS I-NP *
that IN B-SBAR (S*
Moscow NNP B-NP (S*
has VBZ O *
n't RB O *
joined VBN O *
efforts NNS O *
COMMA , O *
led VBN B-VP *
by IN B-PP *
Moslem NNP B-NP *
nations NNS I-NP *
COMMA , O *
to TO B-VP (S(S*
expel VB I-VP *
Israel NNP B-NP *
from IN B-PP *
the DT B-NP *
world NN I-NP *
body NN I-NP *S)S)S)S)
COMMA , O *
and CC O *
was VBD B-VP *
viewed VBN I-VP *
as IN B-PP *
a DT B-NP *
sign NN I-NP *
of IN B-PP *
improving VBG B-VP *
Soviet-Israeli JJ B-NP *
ties NNS I-NP *
. . O *S)

Israel NNP B-NP (S*
was VBD B-VP *
seated VBN I-VP *
by IN B-PP *
a DT B-NP *
vote NN I-NP *
of IN B-PP *
95-37 CD B-NP *
COMMA , O *
with IN O *
15 CD B-NP *
abstentions NNS I-NP *
. . O *S)

Black JJ B-NP (S*
activist NN I-NP *
Walter NNP I-NP *
Sisulu NNP I-NP *
said VBD B-VP *
the DT B-NP (S(S*
African NNP I-NP *
National NNP I-NP *
Congress NNP I-NP *
would MD B-VP *
n't RB I-VP *
reject VB I-VP *
violence NN B-NP *
as IN B-PP *
a DT B-NP *
way NN I-NP *
to TO B-VP (S(S*
pressure VB I-VP *
the DT B-NP *
South JJ I-NP *
African JJ I-NP *
government NN I-NP *
into IN B-PP *
concessions NNS B-NP *
that WDT B-NP (S*
might MD B-VP (S*
lead VB I-VP *
to TO B-PP *
negotiations NNS B-NP *
over IN B-PP *
apartheid NN B-NP *S)S)S)S)S)S)
. . O *S)

The DT B-NP (S*
77-year-old NNP I-NP *
Sisulu NNP I-NP *
was VBD B-VP *
among IN B-ADVP *
eight CD B-NP *
black JJ I-NP *
political JJ I-NP *
activists NNS I-NP *
freed VBD B-VP *
Sunday NNP B-NP *
from IN B-PP *
prison NN B-NP *
. . O *S)

London NNP B-NP (S*
has VBZ B-VP *
concluded VBN I-VP *
that IN B-SBAR (S*
Austrian NNP B-NP (S*
President NNP I-NP *
Waldheim NNP I-NP *
was VBD B-VP *
n't RB O *
responsible JJ B-ADJP *
for IN B-PP *
the DT B-NP *
execution NN I-NP *
of IN B-PP *
six CD B-NP *
British JJ I-NP *
commandos NNS I-NP *
in IN B-PP *
World NNP B-NP *
War NNP I-NP *
II NNP I-NP *
COMMA , O *
although IN B-SBAR (S*
he PRP B-NP (S*
probably RB B-ADVP *
was VBD B-VP *
aware JJ B-ADJP *
of IN B-PP *
the DT B-NP *
slayings NNS I-NP *S)S)S)S)
. . O *S)

The DT B-NP (S*
report NN I-NP *
by IN B-PP *
the DT B-NP *
Defense NNP I-NP *
Ministry NNP I-NP *
also RB B-ADVP *
rejected VBD B-VP *
allegations NNS B-NP *
that IN B-SBAR (S*
Britain NNP B-NP (S*
covered VBD B-VP *
up IN B-PRT *
evidence NN B-NP *
of IN B-PP *
Waldheim NNP B-NP *
's POS B-NP *
activities NNS I-NP *
as IN B-PP *
a DT B-NP *
German JJ I-NP *
army NN I-NP *
officer NN I-NP *S)S)
. . O *S)

An DT B-NP (S*
international JJ I-NP *
group NN I-NP *
approved VBD B-VP *
a DT B-NP *
formal JJ I-NP *
ban NN I-NP *
on IN B-PP *
ivory NN B-NP *
trade NN I-NP *
despite IN B-PP *
objections NNS B-NP *
from IN B-PP *
southern JJ B-NP *
African JJ I-NP *
governments NNS I-NP *
COMMA , O *
which WDT B-NP (S*
threatened VBD B-VP (S*
to TO I-VP *
find VB I-VP *
alternative NN B-NP *
channels NNS I-NP *
for IN B-PP *
selling VBG B-VP (S*
elephant NN B-NP *
tusks NNS I-NP *S)S)S)
. . O *S)

The DT B-NP (S*
move NN I-NP *
by IN B-PP *
the DT B-NP *
Convention NNP I-NP *
on IN B-PP *
Trade NNP B-NP *
in IN B-PP *
Endangered NNP B-NP *
Species NNP I-NP *
COMMA , O *
meeting NN B-NP *
in IN B-PP *
Switzerland NNP B-NP *
COMMA , O *
places VBZ B-VP *
the DT B-NP *
elephant NN I-NP *
on IN B-PP *
the DT O *
endangered-species NNS O *
list VBP O *
. . O *S)

An DT B-NP (S*
assassin NN I-NP *
in IN B-PP *
Colombia NNP B-NP *
killed VBD B-VP *
a DT B-NP *
federal JJ I-NP *
judge NN I-NP *
on IN B-PP *
a DT B-NP *
Medellin NNP I-NP *
street NN I-NP *
. . O *S)

An DT B-NP (S*
anonymous JJ I-NP *
caller NN I-NP *
to TO B-PP *
a DT B-NP *
local JJ I-NP *
radio NN I-NP *
station NN I-NP *
said VBD B-VP *
cocaine NN B-NP (S(S*
traffickers NNS I-NP *
had VBD B-VP *
slain VBN I-VP *
the DT B-NP *
magistrate NN I-NP *
in IN B-PP *
retaliation NN B-NP *
for IN B-PP *
the DT B-NP *
extraditions NNS I-NP *
of IN B-PP *
Colombians NNPS B-NP *
wanted VBD B-VP *
on IN B-PP *
drug NN B-NP *
charges NNS I-NP *
in IN B-PP *
the DT B-NP *
U.S. NNP I-NP *S)S)
. . O *S)

Libyan JJ B-NP (S(S*
leader NN I-NP *
Gadhafi NNP I-NP *
met VBD B-VP *
with IN B-PP *
Egypt NNP B-NP *
's POS B-NP *
President NNP I-NP *
Mubarak NNP I-NP *S)
COMMA , O *
and CC O *
the DT B-NP (S*
two CD I-NP *
officials NNS I-NP *
pledged VBD B-VP *
to TO I-VP *
respect VB I-VP *
each DT B-NP *
other NN I-NP *
's POS B-NP *
laws NNS I-NP *
COMMA , O *
security NN B-NP *
and CC I-NP *
stability NN I-NP *S)
. . O *S)

They PRP B-NP (S*
stopped VBD B-VP *
short NN B-ADVP *
of IN B-PP *
resuming VBG B-VP (S*
diplomatic JJ B-NP *
ties NNS I-NP *
COMMA , O *
severed VBN B-VP *
in IN B-PP *
1979 CD B-NP *S)
. . O *S)

The DT B-NP (S*
reconciliation NN I-NP *
talks NNS I-NP *
in IN B-PP *
the DT B-NP *
Libyan JJ I-NP *
desert NN I-NP *
town NN I-NP *
of IN B-PP *
Tobruk NNP B-NP *
followed VBD B-VP *
a DT B-NP *
meeting NN I-NP *
Monday NNP B-NP *
in IN B-PP *
the DT B-NP *
Egyptian JJ I-NP *
resort NN I-NP *
of IN B-PP *
Mersa NNP B-NP *
Metruh NNP I-NP *
. . O *S)

Alpine NNP B-NP (S*
Group NNP I-NP *
Inc. NNP I-NP *
revised VBD B-VP *
its PRP$ B-NP *
exchange NN I-NP *
offer NN I-NP *
for IN B-PP *
$ $ B-NP *
43.7 CD I-NP *
million CD I-NP *
face NN I-NP *
amount NN I-NP *
of IN B-PP *
13.5 CD B-NP *
% NN I-NP *
senior JJ I-NP *
subordinated VBN I-NP *
debt NN I-NP *
due JJ B-ADJP *
1996 CD B-NP *
and CC O *
extended VBD B-VP *
the DT B-NP *
offer NN I-NP *
to TO B-PP *
Oct. NNP B-NP *
27 CD I-NP *
from IN B-PP *
Oct. NNP B-NP *
12 CD I-NP *
. . O *S)

The DT B-NP (S*
Hackensack NNP I-NP *
COMMA , I-NP *
N.J. NNP I-NP *
COMMA , I-NP *
company NN I-NP *
said VBD B-VP *
holders NNS B-NP (S(S*
would MD B-VP *
receive VB I-VP *
for IN B-PP *
each DT B-NP *
$ $ I-NP *
1COMMA000 CD I-NP *
face NN I-NP *
amount NN I-NP *
COMMA , O *
$ $ B-NP *
750 CD I-NP *
face NN I-NP *
amount NN I-NP *
of IN B-PP *
a DT B-NP *
new JJ I-NP *
issue NN I-NP *
of IN B-PP *
secured VBN B-NP *
senior JJ I-NP *
subordinated VBN I-NP *
notes NNS I-NP *
COMMA , O *
convertible JJ B-ADJP *
into IN B-PP *
common JJ B-NP *
stock NN I-NP *
at IN B-PP *
an DT B-NP *
initial JJ I-NP *
rate NN I-NP *
of IN B-PP *
$ $ B-NP *
6.50 CD I-NP *
a DT B-NP *
share NN I-NP *
COMMA , O *
and CC O *
50 CD B-NP *
common JJ I-NP *
shares NNS I-NP *S)S)
. . O *S)

The DT B-NP (S*
new JJ I-NP *
notes NNS I-NP *
will MD B-VP *
bear VB I-VP *
interest NN B-NP *
at IN B-PP *
5.5 CD B-NP *
% NN I-NP *
through IN B-PP *
July NNP B-NP *
31 CD I-NP *
COMMA , I-NP *
1991 CD I-NP *
COMMA , O *
and CC O *
thereafter RB B-ADVP *
at IN B-PP *
10 CD B-NP *
% NN I-NP *
. . O *S)

Under IN B-PP (S*
the DT B-NP *
original JJ I-NP *
proposal NN I-NP *
COMMA , O *
the DT B-NP *
maker NN I-NP *
of IN B-PP *
specialty NN B-NP *
coatings NNS I-NP *
and CC O *
a DT B-NP *
developer NN I-NP *
of IN B-PP *
information-display JJ B-NP *
technologies NNS I-NP *
offered VBN B-VP *
$ $ B-NP *
400 CD I-NP *
of IN B-PP *
notes NNS B-NP *
due JJ B-ADJP *
1996 CD B-NP *
COMMA , O *
10 CD B-NP *
common JJ I-NP *
shares NNS I-NP *
and CC O *
$ $ B-NP *
175 CD I-NP *
in IN B-PP *
cash NN B-NP *
for IN B-PP *
each DT B-NP *
$ $ I-NP *
1COMMA000 CD I-NP *
face NN I-NP *
amount NN I-NP *
. . O *S)

Completion NN B-NP (S*
of IN B-PP *
the DT B-NP *
exchange NN I-NP *
offer NN I-NP *
is VBZ B-VP *
subject NN B-ADJP *
to TO B-PP *
the DT B-NP *
tender NN I-NP *
of IN B-PP *
at IN B-NP *
least JJS I-NP *
80 CD I-NP *
% NN I-NP *
of IN B-PP *
the DT B-NP *
debt NN I-NP *
COMMA , O *
among IN B-PP *
other JJ B-NP *
things NNS I-NP *
. . O *S)

Alpine NNP B-NP (S*
COMMA , O *
which WDT B-NP (S*
said VBD B-VP (S*
it PRP B-NP (S(S*
does VBZ B-VP *
n't RB I-VP *
plan VB I-VP *
to TO I-VP *
further VB I-VP *
extend VB I-VP *
the DT B-NP *
offer NN I-NP *S)S)S)S)
COMMA , O *
said VBD B-VP *
it PRP B-NP (S(S*
received VBD B-VP *
$ $ B-NP *
615COMMA000 CD I-NP *
face NN I-NP *
amount NN I-NP *
of IN B-PP *
debt NN B-NP *
under IN B-PP *
the DT B-NP *
original JJ I-NP *
offer NN I-NP *S)S)
. . O *S)

The DT B-NP (S*
stock NN I-NP *
of IN B-PP *
UAL NNP B-NP *
Corp. NNP I-NP *
continued VBD B-VP *
to TO I-VP *
be VB I-VP *
pounded VBN I-VP *
amid IN B-PP *
signs NNS B-NP *
that IN B-SBAR (S*
British JJ B-NP (S*
Airways NNPS I-NP *
may MD B-VP *
balk VB I-VP *
at IN B-PP *
any DT B-NP *
hasty JJ I-NP *
reformulation NN I-NP *
of IN B-PP *
the DT B-NP *
aborted JJ I-NP *
$ $ I-NP *
6.79 CD I-NP *
billion CD I-NP *
buy-out NN I-NP *
of IN B-PP *
United NNP B-NP *
Airlines NNPS I-NP *
' POS B-NP *
parent NN I-NP *S)S)
. . O *S)

UAL NNP B-NP (S*
stock NN I-NP *
plummeted VBD B-VP *
a DT B-NP *
further JJ I-NP *
$ $ I-NP *
24.875 CD I-NP *
to TO O *
$ $ B-NP *
198 CD I-NP *
on IN B-PP *
volume NN B-NP *
of IN B-PP *
more JJR B-NP *
than IN I-NP *
2.8 CD I-NP *
million CD I-NP *
shares NNS I-NP *
in IN B-PP *
New NNP B-NP *
York NNP I-NP *
Stock NNP I-NP *
Exchange NNP I-NP *
composite JJ I-NP *
trading NN I-NP *
. . O *S)

The DT B-NP (S*
plunge NN I-NP *
followed VBD B-VP *
a DT B-NP *
drop NN I-NP *
of IN B-PP *
$ $ B-NP *
56.875 CD I-NP *
Monday NNP I-NP *
COMMA , O *
amid IN O *
indications NNS O *
the DT B-NP (S(S*
takeover NN I-NP *
may MD B-VP *
take VB I-VP *
weeks NNS B-NP *
to TO B-VP (S*
be VB I-VP *
revived VBN I-VP *S)S)S)
. . O *S)

The DT B-NP (S*
stock NN I-NP *
has VBZ B-VP *
fallen VBN I-VP *
$ $ B-NP *
87.25 CD I-NP *
COMMA , O *
or CC O *
31 CD B-NP *
% NN I-NP *
COMMA , O *
in IN B-PP *
the DT B-NP *
three CD I-NP *
trading NN I-NP *
days NNS I-NP *
since IN B-PP (S*
announcement NN B-NP (S*
of IN B-PP *
the DT B-NP *
collapse NN I-NP *
of IN B-PP *
the DT B-NP *
$ $ I-NP *
300-a-share JJ I-NP *
takeover NN I-NP *
jolted VBD B-VP *
the DT B-NP *
entire JJ I-NP *
stock NN I-NP *
market NN I-NP *
into IN B-PP *
its PRP$ B-NP *
second-worst JJ I-NP *
plunge NN I-NP *
ever RB B-ADVP *S)S)
. . O *S)

`` `` O (S(S*
This DT B-NP *
is VBZ B-VP *
a DT B-NP *
total JJ I-NP *
bloodbath NN I-NP *
'' '' O *
for IN B-PP *
takeover-stock JJ B-NP *
traders NNS I-NP *S)
COMMA , O *
one CD B-NP *
investment NN I-NP *
banker NN I-NP *
said VBD B-VP *
. . O *S)

Los NNP B-NP (S*
Angeles NNP I-NP *
financier NN I-NP *
Marvin NNP I-NP *
Davis NNP I-NP *
COMMA , O *
who WP B-NP (S*
put VBP B-VP (S*
United NNP B-NP *
in IN B-PP *
play NN B-NP *
with IN B-PP *
a DT B-NP *
$ $ I-NP *
5.4 CD I-NP *
billion CD I-NP *
bid NN I-NP *
two CD B-NP *
months NNS I-NP *
ago RB B-ADVP *S)S)
COMMA , O *
last JJ B-NP *
night NN I-NP *
proffered VBD B-VP *
both DT B-NP *
a DT B-NP *
ray NN I-NP *
of IN B-PP *
hope NN B-NP *
and CC O *
an DT B-NP *
extra JJ I-NP *
element NN I-NP *
of IN B-PP *
uncertainty NN B-NP *
by IN B-PP *
saying VBG B-VP (S*
he PRP B-NP (S(S*
remains VBZ B-VP *
interested JJ B-ADJP *
in IN B-PP *
acquiring VBG B-VP (S*
UAL NNP B-NP *S)S)S)S)
. . O *S)

But CC O (S*
he PRP B-NP *
dropped VBD B-VP *
his PRP$ B-NP *
earlier RBR I-NP *
$ $ I-NP *
300-a-share JJ I-NP *
back-up NN I-NP *
bid NN I-NP *
COMMA , O *
saying VBG B-VP (S*
he PRP B-NP (S(S*
must MD B-VP *
first RB I-VP *
explore VB I-VP *
bank NN B-NP *
financing NN I-NP *S)S)S)
. . O *S)

Even RB B-SBAR (S(S*
as IN I-SBAR *
Citicorp NNP B-NP (S*
and CC O *
Chase NNP B-NP *
Manhattan NNP I-NP *
Corp. NNP I-NP *
scrambled VBD B-VP *
to TO I-VP *
line VB I-VP *
up IN B-PRT *
bank NN B-NP *
financing NN I-NP *
for IN B-PP *
a DT B-NP *
revised VBN I-NP *
version NN I-NP *
of IN B-PP *
the DT B-NP *
lapsed JJ I-NP *
labor-management JJ I-NP *
bid NN I-NP *S)S)
COMMA , O *
British JJ B-NP *
Airways NNPS I-NP *
COMMA , O *
a DT B-NP *
15 CD I-NP *
% NN I-NP *
partner NN I-NP *
in IN B-PP *
the DT B-NP *
buying VBG I-NP *
group NN I-NP *
COMMA , O *
indicated VBD B-VP *
it PRP B-NP (S(S*
wants VBZ B-VP *
to TO I-VP *
start VB I-VP *
from IN B-PP *
scratch NN B-NP *S)S)
. . O *S)

Its PRP$ B-NP (S*
partners NNS I-NP *
are VBP B-VP *
United NNP B-NP *
's POS B-NP *
pilots NNS I-NP *
COMMA , O *
who WP B-NP (S*
were VBD B-VP (S*
to TO I-VP *
own VB I-VP *
75 CD B-NP *
% NN I-NP *S)S)
COMMA , O *
and CC O *
UAL NNP B-NP *
management NN I-NP *
at IN B-PP *
10 CD B-NP *
% NN I-NP *
. . O *S)

Adding VBG B-VP (S(S*
insult NN B-NP *
to TO B-PP *
injury NN B-NP *S)
COMMA , O *
United NNP B-NP *
's POS B-NP *
25COMMA000-member JJ I-NP *
Machinists NNS I-NP *
' POS B-NP *
union NN I-NP *
COMMA , O *
which WDT B-NP (S*
helped VBD B-VP (S*
scuttle VB I-VP *
financing NN B-NP *
for IN B-PP *
the DT B-NP *
first JJ I-NP *
bid NN I-NP *S)S)
COMMA , O *
yesterday NN B-NP *
asked VBD B-VP *
UAL NNP B-NP *
Chairman NNP I-NP *
Stephen NNP I-NP *
Wolf NNP I-NP *
and CC O *
other JJ B-NP *
UAL NNP I-NP *
directors NNS I-NP *
to TO B-VP (S*
resign VB I-VP *S)
. . O *S)

A DT B-NP (S*
similar JJ I-NP *
demand NN I-NP *
was VBD B-VP *
made VBN I-VP *
by IN B-PP *
a DT B-NP *
group NN I-NP *
that WDT B-NP (S*
represents VBZ B-VP (S*
some DT B-NP *
of IN B-PP *
United NNP B-NP *
's POS B-NP *
26COMMA000 CD I-NP *
noncontract JJ I-NP *
employees NNS I-NP *S)S)
. . O *S)

John NNP B-NP (S*
Peterpaul NNP I-NP *
COMMA , O *
Machinists NNS B-NP *
union NN I-NP *
general JJ I-NP *
vice NN I-NP *
president NN I-NP *
COMMA , O *
attacked VBN B-VP *
Mr. NNP B-NP *
Wolf NNP I-NP *
as IN B-PP *
`` `` O *
greedy JJ O *
and CC O *
irresponsible JJ O *
'' '' O *
for IN B-PP *
pursuing VBG B-VP (S*
the DT B-NP *
buy-out NN I-NP *S)
. . O *S)

Although IN B-SBAR (S(S*
Mr. NNP B-NP (S*
Wolf NNP I-NP *
and CC O *
John NNP B-NP *
Pope NNP I-NP *
COMMA , O *
UAL NNP B-NP *
's POS B-NP *
chief JJ I-NP *
financial JJ I-NP *
officer NN I-NP *
COMMA , O *
stood VBD B-VP *
to TO I-VP *
pocket VB I-VP *
$ $ B-NP *
114.3 CD I-NP *
million CD I-NP *
for IN B-PP *
stock NN B-NP *
and CC I-NP *
options NNS I-NP *
in IN B-PP *
the DT B-NP *
buy-out NN I-NP *S)S)
COMMA , O *
UAL NNP B-NP *
executives NNS I-NP *
planned VBN O *
to TO B-VP *
reinvest VB I-VP *
only RB B-NP *
$ $ I-NP *
15 CD I-NP *
million CD I-NP *
in IN B-PP *
the DT B-NP *
new JJ I-NP *
company NN I-NP *
. . O *S)

The DT B-NP (S*
blue-collar JJ I-NP *
machinists NNS I-NP *
COMMA , O *
longtime JJ B-NP *
rivals NNS I-NP *
of IN B-PP *
the DT B-NP *
white-collar JJ I-NP *
pilots NNS I-NP *
COMMA , O *
say VBP B-VP *
the DT B-NP (S(S*
buyout NN I-NP *
would MD B-VP *
load VB I-VP *
the DT B-NP *
company NN I-NP *
with IN B-PP *
debt NN B-NP *
and CC O *
weaken VB B-VP *
its PRP$ B-NP *
finances NNS I-NP *S)S)
. . O *S)

Confusion NN B-NP (S*
about IN B-PP *
the DT B-NP *
two CD I-NP *
banks NNS I-NP *
' POS O *
hurried VBD O *
efforts NNS B-NP *
to TO B-VP (S(S*
round VB I-VP *
up IN B-ADVP *
financing NN B-NP *
for IN B-PP *
a DT B-NP *
new JJ I-NP *
bid NN I-NP *
that IN B-SBAR (S*
the DT B-NP (S*
UAL NNP I-NP *
board NN I-NP *
has VBZ B-VP *
n't RB I-VP *
even RB I-VP *
seen VBN I-VP *
yet RB B-ADVP *S)S)S)S)
helped VBD B-VP *
send VB I-VP *
UAL NNP B-NP (S*
stock NN I-NP *
spiraling VBG B-VP *
downward JJ B-ADJP *S)
. . O *S)

And CC O (S*
rumors NNS B-NP *
of IN B-PP *
forced VBN B-NP *
selling VBG I-NP *
by IN B-PP *
takeover-stock JJ B-NP *
traders NNS I-NP *
triggered VBD B-VP *
a DT B-NP *
25-point JJ I-NP *
downdraft NN I-NP *
in IN B-PP *
the DT B-NP *
Dow NNP I-NP *
Jones NNP I-NP *
Industrial NNP I-NP *
Average NNP I-NP *
around IN O *
11:15 CD B-NP *
a.m. NN I-NP *
EDT NNP I-NP *
yesterday NN B-NP *
. . O *S)

Yesterday NN B-NP (S*
's POS O *
selling VBG O *
began VBD B-VP *
after IN B-PP (S*
a DT B-NP (S*
Japanese JJ I-NP *
news NN I-NP *
agency NN I-NP *
reported VBD B-VP *
that IN B-SBAR (S*
Japanese JJ B-NP (S*
banks NNS I-NP *
COMMA , O *
which WDT B-NP (S*
balked VBD B-VP (S*
at IN B-PP *
the DT B-NP *
first JJ I-NP *
bid NN I-NP *S)S)
COMMA , O *
were VBD B-VP *
ready JJ B-ADJP *
to TO B-VP (S*
reject VB I-VP *
a DT B-NP *
revised VBN I-NP *
version NN I-NP *
at IN B-PP *
around IN O *
$ $ B-NP *
250 CD I-NP *
a DT B-NP *
share NN I-NP *
COMMA , O *
or CC O *
$ $ B-NP *
5.65 CD I-NP *
billion CD I-NP *S)S)S)S)S)
. . O *S)

Several JJ B-NP (S*
reports NNS I-NP *
as IN O (S*
the DT B-NP (S*
day NN I-NP *
progressed VBD B-VP *S)S)
gave VBD B-VP *
vague JJ B-NP *
or CC O *
conflicting VBG B-VP *
indications NNS B-NP *
about IN B-PP *
whether IN B-SBAR (S*
banks NNS B-NP (S*
would MD B-VP *
sign VB I-VP *
up RB B-PRT *S)S)
. . O *S)

Citicorp NNP B-NP (S*
COMMA , O *
for IN B-PP *
example NN B-NP *
COMMA , O *
said VBD B-VP *
only RB B-ADVP *
that IN B-SBAR (S*
it PRP B-NP (S*
had VBD B-VP *
`` `` O *
expressions NNS B-NP *
of IN B-PP *
interest NN B-NP *
of IN B-PP *
a DT B-NP *
transaction NN I-NP *
from IN B-PP *
both DT B-NP *
the DT B-NP *
borrowers NNS I-NP *
and CC O *
the DT B-NP *
banks NNS I-NP *
COMMA , O *
'' '' O *
but CC O *
did VBD B-VP *
n't RB I-VP *
have VB I-VP *
an DT B-NP *
agreement NN I-NP *S)S)
. . O *S)

Late RB B-ADVP (S*
in IN B-PP *
the DT B-NP *
day NN I-NP *
COMMA , O *
Mr. NNP B-NP *
Wolf NNP I-NP *
issued VBD B-VP *
a DT B-NP *
onepage JJ I-NP *
statement NN I-NP *
calling VBG O *
Mr. NNP B-NP *
Peterpaul NNP I-NP *
's POS B-NP *
blast NN I-NP *
`` `` O *
divisive JJ O *
and CC O *
uncalled JJ O *
for IN O *
. . O *
'' '' O *S)

But CC O (S*
he PRP B-NP *
gave VBD B-VP *
few JJ B-NP *
details NNS I-NP *
on IN B-PP *
the DT B-NP *
progress NN I-NP *
toward IN B-PP *
a DT B-NP *
new JJ I-NP *
bid NN I-NP *
COMMA , O *
saying VBG B-VP (S*
only RB B-ADVP *
COMMA , O *
`` `` O (S*
We PRP B-NP *
are VBP B-VP *
working VBG I-VP *
toward IN B-PP *
a DT B-NP *
revised VBN I-NP *
proposal NN I-NP *
for IN B-PP *
majority NN B-NP *
employee NN I-NP *
ownership NN I-NP *S)S)
. . O *
'' '' O *S)

Meanwhile RB B-ADVP (S*
COMMA , O *
in IN B-PP *
another DT B-NP *
sign NN I-NP *
that IN B-SBAR (S*
a DT B-NP (S*
new JJ I-NP *
bid NN I-NP *
is VBZ B-VP *
n't RB O *
imminent JJ O *S)S)
COMMA , O *
it PRP B-NP *
was VBD B-VP *
learned VBN I-VP *
that IN B-SBAR (S(S*
the DT B-NP (S*
UAL NNP I-NP *
board NN I-NP *
held VBD B-VP *
a DT B-NP *
telephone NN I-NP *
meeting NN I-NP *
Monday NNP B-NP *
to TO B-VP (S*
hear VB I-VP *
an DT B-NP *
update NN I-NP *
on IN B-PP *
the DT B-NP *
situation NN I-NP *S)S)S)
COMMA , O *
but CC O *
that IN B-SBAR (S*
a DT B-NP (S*
formal JJ I-NP *
board NN I-NP *
meeting NN I-NP *
is VBZ B-VP *
n't RB O *
likely JJ B-ADJP *
to TO B-VP (S*
be VB I-VP *
convened VBN I-VP *
until IN B-PP *
early JJ B-NP *
next JJ I-NP *
week NN I-NP *S)S)S)S)
. . O *S)

In IN B-PP (S*
London NNP B-NP *
COMMA , O *
British JJ B-NP *
Airways NNP I-NP *
Chairman NNP I-NP *
Lord NNP I-NP *
King NNP I-NP *
was VBD B-VP *
quoted VBN I-VP *
in IN B-PP *
the DT B-NP *
Times NNP I-NP *
as IN B-PP *
declaring VBG B-VP (S*
he PRP B-NP (S(S*
is VBZ B-VP *
`` `` O *
not RB O *
prepared VBN O *
to TO O (S*
take VB O *
my PRP$ B-NP *
shareholders NNS I-NP *
into IN B-PP *
a DT B-NP *
hasty JJ I-NP *
deal NN I-NP *S)S)S)S)
. . O *
'' '' O *S)

Observers NNS B-NP (S*
said VBD B-VP *
it PRP B-NP (S(S*
appeared VBD B-VP *
that IN B-SBAR (S*
British NNP B-NP (S*
Air NNP I-NP *
was VBD B-VP *
angered VBN I-VP *
at IN B-PP *
the DT B-NP *
way NN I-NP *
the DT B-NP (S(S*
bid NN I-NP *
has VBZ B-VP *
degenerated VBN I-VP *
into IN B-PP *
confusion NN B-NP *S)S)
COMMA , O *
as RB B-CONJP *
well RB I-CONJP *
as IN I-CONJP *
by IN B-PP *
the DT B-NP *
banks NNS I-NP *
' POS B-NP *
effort NN I-NP *
to TO B-VP (S(S*
round VB I-VP *
up IN B-PRT *
financing NN B-NP *
for IN B-PP *
what WP B-NP (S*
one CD B-NP (S*
called VBN B-VP *
`` `` O *
a DT B-NP *
deal NN I-NP *
that WDT B-NP (S*
is VBZ B-VP (S*
n't RB O *
a DT B-NP *
deal NN I-NP *S)S)S)S)S)S)S)S)S)S)
. . O *
'' '' O *S)

The DT B-NP (S*
effort NN I-NP *
to TO B-VP (S(S*
revive VB I-VP *
the DT B-NP *
bid NN I-NP *S)S)
was VBD B-VP *
complicated VBN I-VP *
by IN B-PP *
the DT B-NP *
unwieldy JJ I-NP *
nature NN I-NP *
of IN B-PP *
the DT B-NP *
three-party JJ I-NP *
buying NN I-NP *
group NN I-NP *
. . O *S)

The DT B-NP (S*
pilots NNS I-NP *
were VBD B-VP *
meeting NN B-NP *
outside IN B-PP *
Chicago NNP B-NP *
yesterday NN I-NP *
. . O *S)

But CC O (S*
British NNP B-NP *
Air NNP I-NP *
COMMA , O *
which WDT B-NP (S*
was VBD O (S*
to TO O *
have VB O *
supplied VBN O *
$ $ B-NP *
750 CD I-NP *
million CD I-NP *
out IN B-PP *
of IN B-PP *
$ $ B-NP *
965 CD I-NP *
million CD I-NP *
in IN B-PP *
equity NN B-NP *
financing NN I-NP *S)S)
COMMA , O *
apparently RB B-ADVP *
was VBD B-VP *
n't RB I-VP *
involved VBN I-VP *
in IN B-PP *
the DT B-NP *
second JJ I-NP *
proposal NN I-NP *
and CC O *
could MD B-VP *
well RB I-VP *
reject VB I-VP *
it PRP B-NP *
even RB B-SBAR (S*
if IN I-SBAR *
banks NNS B-NP (S*
obtain VBP B-VP *
financing VBG I-VP *S)S)
. . O *S)

A DT B-NP (S*
group NN I-NP *
of IN B-PP *
United NNP B-NP *
's POS B-NP *
noncontract JJ I-NP *
employees NNS I-NP *
said VBD B-VP *
in IN B-PP *
a DT B-NP *
statement NN I-NP *
COMMA , O *
`` `` O (S*
The DT B-NP *
fact NN I-NP *
that IN B-SBAR (S*
Wolf NNP B-NP (S*
and CC O *
other JJ B-NP *
officers NNS I-NP *
were VBD B-VP *
going VBG I-VP *
to TO I-VP *
line VB I-VP *
their PRP$ B-NP *
pockets NNS I-NP *
with IN B-PP *
literally RB O *
millions NNS B-NP *
of IN B-PP *
dollars NNS B-NP *
while IN O (S*
instituting VBG B-VP (S*
severe JJ B-NP *
pay NN I-NP *
cuts NNS I-NP *
on IN B-PP *
the DT B-NP *
nonunion JJ I-NP *
employees NNS I-NP *
of IN B-PP *
United NNP B-NP *S)S)S)S)
is VBZ B-VP *
not RB O *
only RB O *
deplorable JJ B-ADJP *
but CC I-ADJP *
inexcusable JJ I-ADJP *S)
. . O *
'' '' O *S)

The DT B-NP (S*
machinists NNS I-NP *
also RB B-ADVP *
asked VBD B-VP *
for IN B-PP *
an DT B-NP *
investigation NN I-NP *
by IN B-PP *
the DT B-NP *
Securities NNP I-NP *
and CC I-NP *
Exchange NNP I-NP *
Commission NNP I-NP *
into IN B-PP *
possible JJ B-NP *
securities-law NN I-NP *
violations NNS I-NP *
in IN B-PP *
the DT B-NP *
original JJ I-NP *
bid NN I-NP *
for IN B-PP *
UAL NNP B-NP *
by IN B-PP *
Mr. NNP B-NP *
Davis NNP I-NP *
COMMA , O *
as RB B-CONJP *
well RB I-CONJP *
as IN I-CONJP *
in IN B-PP *
the DT B-NP *
response NN I-NP *
by IN B-PP *
UAL NNP B-NP *
. . O *S)

Last JJ B-NP (S*
week NN I-NP *
COMMA , O *
just RB O (S*
before IN O *
the DT B-NP (S*
bank NN I-NP *
commitments NNS I-NP *
were VBD B-VP *
due JJ B-ADJP *S)S)
COMMA , O *
the DT B-NP *
union NN I-NP *
asked VBD B-VP *
the DT B-NP (S*
U.S. NNP I-NP *
Labor NNP I-NP *
Department NNP I-NP *
to TO B-VP *
study VB I-VP *
whether IN B-SBAR (S*
the DT B-NP (S*
bid NN I-NP *
violated VBD B-VP *
legal JJ B-NP *
standards NNS I-NP *
of IN B-PP *
fairness NN B-NP *
governing VBG B-VP *
employee NN B-NP *
investment NN I-NP *
funds NNS I-NP *S)S)S)
. . O *S)

In IN B-PP (S*
his PRP$ B-NP *
statement NN I-NP *
COMMA , O *
Mr. NNP B-NP *
Wolf NNP I-NP *
said VBD B-VP *
COMMA , O *
`` `` O (S*
We PRP B-NP *
continue VBP B-VP *
to TO I-VP *
believe VB I-VP *
our PRP$ B-NP (S(S(S*
approach NN I-NP *
is VBZ B-VP *
sound NN B-NP *S)S)
COMMA , O *
and CC O *
that IN B-SBAR (S*
it PRP B-NP (S*
is VBZ B-VP *
far RB O *
better JJR O *
for IN O *
all DT B-NP *
employees NNS I-NP *
than IN B-PP *
the DT B-NP *
alternative NN I-NP *
of IN B-PP *
having VBG B-VP (S*
an DT B-NP (S*
outsider NN I-NP *
own VB B-VP *
the DT B-NP *
company NN I-NP *
with IN B-PP *
employees NNS B-NP (S*
paying VBG B-VP *
for IN B-PP *
it PRP B-NP *
just RB O *
the DT B-NP *
same JJ I-NP *S)S)S)S)S)S)S)
. . O *
'' '' O *S)

Mr. NNP B-NP (S*
Wolf NNP I-NP *
has VBZ B-VP *
eschewed VBN I-VP *
merger NN B-NP *
advice NN I-NP *
from IN B-PP *
a DT B-NP *
major JJ I-NP *
Wall NNP I-NP *
Street NNP I-NP *
securities NNS I-NP *
firm NN I-NP *
COMMA , O *
relying VBG B-VP (S*
instead RB B-ADVP *
only RB I-ADVP *
on IN B-PP *
a DT B-NP *
takeover NN I-NP *
lawyer NN I-NP *
COMMA , O *
Peter NNP B-NP *
Atkins NNP I-NP *
of IN B-PP *
Skadden NNP B-NP *
Arps NNP I-NP *
Slate NNP I-NP *
Meagher NNP I-NP *
& CC I-NP *
Flom NNP I-NP *S)
. . O *S)

The DT B-NP (S*
huge JJ I-NP *
drop NN I-NP *
in IN B-PP *
UAL NNP B-NP *
stock NN I-NP *
prompted VBD B-VP *
one CD B-NP (S*
takeover NN I-NP *
stock NN I-NP *
trader NN I-NP *
COMMA , O *
George NNP B-NP *
Kellner NNP I-NP *
COMMA , O *
managing VBG B-NP *
partner NN I-NP *
of IN B-PP *
Kellner NNP B-NP *
COMMA , I-NP *
DiLeo NNP I-NP *
& CC I-NP *
Co. NNP I-NP *
COMMA , O *
to TO B-VP *
deny VB I-VP *
publicly RB O *
rumors VBZ B-VP *
that IN B-SBAR (S*
his PRP$ B-NP (S*
firm NN I-NP *
was VBD B-VP *
going VBG I-VP *
out IN B-PP *
of IN B-PP *
business NN B-NP *S)S)S)
. . O *S)

Mr. NNP B-NP (S*
Kellner NNP I-NP *
said VBD B-VP *
that IN B-SBAR (S*
despite IN B-PP (S*
losses NNS B-NP *
on IN B-PP *
UAL NNP B-NP *
stock NN I-NP *
COMMA , O *
his PRP$ B-NP *
firm NN I-NP *
's POS B-NP *
health NN I-NP *
is VBZ B-VP *
`` `` O *
excellent JJ B-ADJP *S)S)
. . O *
'' '' O *S)

The DT B-NP (S*
stock NN I-NP *
's POS B-NP *
decline NN I-NP *
also RB B-ADVP *
has VBZ B-VP *
left VBN I-VP *
the DT B-NP *
UAL NNP I-NP *
board NN I-NP *
in IN B-PP *
a DT B-NP *
quandary NN I-NP *
. . O *S)

Although IN B-SBAR (S(S*
it PRP B-NP (S*
may MD B-VP *
not RB I-VP *
be VB I-VP *
legally RB I-VP *
obligated VBN I-VP *
to TO I-VP *
sell VB I-VP *
the DT B-NP *
company NN I-NP *
if IN B-SBAR (S*
the DT B-NP (S*
buy-out NN I-NP *
group NN I-NP *
ca MD B-VP *
n't RB I-VP *
revive VB I-VP *
its PRP$ B-NP *
bid NN I-NP *S)S)S)S)
COMMA , O *
it PRP B-NP *
may MD B-VP *
have VB I-VP *
to TO I-VP *
explore VB I-VP *
alternatives NNS B-NP *
if IN B-SBAR (S*
the DT B-NP (S*
buyers NNS I-NP *
come VBP B-VP *
back RB B-ADVP *
with IN B-PP *
a DT B-NP *
bid NN I-NP *
much RB B-ADJP *
lower JJR I-ADJP *
than IN B-PP *
the DT B-NP *
group NN I-NP *
's POS B-NP *
original JJ I-NP *
$ $ I-NP *
300-a-share JJ I-NP *
proposal NN I-NP *S)S)
. . O *S)

At IN B-PP (S*
a DT B-NP *
meeting NN I-NP *
Sept. NNP B-NP *
1 CD I-NP *
to TO B-VP (S*
consider VB I-VP *
the DT B-NP *
labor-management JJ I-NP *
bid NN I-NP *S)
COMMA , O *
the DT B-NP *
board NN I-NP *
also RB B-ADVP *
was VBD B-VP *
informed VBN I-VP *
by IN B-PP *
its PRP$ B-NP *
investment NN I-NP *
adviser NN I-NP *
COMMA , O *
First NNP B-NP *
Boston NNP I-NP *
Corp. NNP I-NP *
COMMA , O *
of IN B-PP *
interest NN B-NP *
expressed VBN B-VP *
by IN B-PP *
buy-out NN B-NP *
funds NNS I-NP *
including VBG B-PP *
Kohlberg NNP B-NP *
Kravis NNP I-NP *
Roberts NNP I-NP *
& CC I-NP *
Co. NNP I-NP *
and CC O *
Forstmann NNP B-NP *
Little NNP I-NP *
& CC I-NP *
Co. NNP I-NP *
COMMA , O *
as RB B-CONJP *
well RB I-CONJP *
as IN I-CONJP *
by IN B-PP *
Robert NNP B-NP *
Bass NNP I-NP *
COMMA , O *
Morgan NNP B-NP *
Stanley NNP I-NP *
's POS B-NP *
buy-out NN I-NP *
fund NN I-NP *
COMMA , O *
and CC O *
Pan NNP B-NP *
Am NNP I-NP *
Corp NNP I-NP *
. . O *S)

The DT B-NP (S*
takeover-stock JJ I-NP *
traders NNS I-NP *
were VBD B-VP *
hoping VBG I-VP *
that IN B-SBAR (S(S*
Mr. NNP B-NP (S*
Davis NNP I-NP *
or CC O *
one CD B-NP *
of IN B-PP *
the DT B-NP *
other JJ I-NP *
interested JJ I-NP *
parties NNS I-NP *
might MD B-VP *
re-emerge VB I-VP *
with IN B-PP *
the DT B-NP *
situation NN I-NP *
in IN B-PP *
disarray NN B-NP *S)S)
COMMA , O *
or CC O *
that IN B-SBAR (S*
the DT B-NP (S*
board NN I-NP *
might MD B-VP *
consider VB I-VP *
a DT B-NP *
recapitalization NN I-NP *S)S)S)
. . O *S)

Meanwhile RB B-ADVP (S*
COMMA , O *
Japanese JJ B-NP *
bankers NNS I-NP *
said VBD B-VP *
they PRP B-NP (S(S*
were VBD B-VP *
still RB B-ADVP *
hesitant JJ B-ADJP *
about IN B-PP *
accepting VBG B-VP (S*
Citicorp NNP B-NP *
's POS B-NP *
latest JJS I-NP *
proposal NN I-NP *S)S)S)
. . O *S)

Macmillan NNP B-NP (S*
Inc. NNP I-NP *
said VBD B-VP *
it PRP B-NP (S(S*
plans VBZ B-VP *
a DT B-NP *
public JJ I-NP *
offering NN I-NP *
of IN B-PP *
8.4 CD B-NP *
million CD I-NP *
shares NNS I-NP *
of IN B-PP *
its PRP$ B-NP *
Berlitz NNP I-NP *
International NNP I-NP *
Inc. NNP I-NP *
unit NN I-NP *
at IN B-PP *
$ $ B-NP *
19 CD I-NP *
to TO I-NP *
$ $ I-NP *
21 CD I-NP *
a DT B-NP *
share NN I-NP *S)S)
. . O *S)

The DT B-NP (S*
offering NN I-NP *
for IN B-PP *
the DT B-NP *
language NN I-NP *
school NN I-NP *
unit NN I-NP *
was VBD B-VP *
announced VBN I-VP *
by IN B-PP *
Robert NNP B-NP *
Maxwell NNP I-NP *
COMMA , O *
chairman NN B-NP *
and CC O *
chief JJ B-NP *
executive JJ I-NP *
officer NN I-NP *
of IN B-PP *
London-based NNP B-NP *
Maxwell NNP I-NP *
Communication NNP I-NP *
Corp. NNP I-NP *
COMMA , O *
which WDT B-NP (S*
owns VBZ B-VP (S*
Macmillan NNP B-NP *S)S)
. . O *S)

After IN B-PP (S(S*
the DT B-NP (S*
offering NN I-NP *
is VBZ B-VP *
completed VBN I-VP *S)S)
COMMA , O *
Macmillan NNP B-NP *
will MD B-VP *
own VB I-VP *
about IN B-NP *
56 CD I-NP *
% NN I-NP *
of IN B-PP *
the DT B-NP *
Berlitz NNP I-NP *
common JJ I-NP *
stock NN I-NP *
outstanding JJ O *
. . O *S)

Five CD B-NP (S(S*
million CD I-NP *
shares NNS I-NP *
will MD B-VP *
be VB I-VP *
offered VBN I-VP *
in IN B-PP *
the DT B-NP *
U.S. NNP I-NP *S)
COMMA , O *
and CC O *
3.4 CD B-NP (S*
million CD I-NP *
additional JJ I-NP *
shares NNS I-NP *
will MD B-VP *
be VB I-VP *
offered VBN I-VP *
in IN B-PP *
concurrent JJ B-NP *
international JJ I-NP *
offerings NNS I-NP *
outside IN B-PP *
the DT B-NP *
U.S. NNP I-NP *S)
. . O *S)

Goldman NNP B-NP (S*
COMMA , I-NP *
Sachs NNP I-NP *
& CC I-NP *
Co. NNP I-NP *
will MD B-VP *
manage VB I-VP *
the DT B-NP *
offering NN I-NP *
. . O *S)

Macmillan NNP B-NP (S*
said VBD B-VP *
Berlitz NNP B-NP (S(S*
intends VBZ B-VP *
to TO I-VP *
pay VB I-VP *
quarterly JJ B-NP *
dividends NNS I-NP *
on IN B-PP *
the DT B-NP *
stock NN I-NP *S)S)
. . O *S)

The DT B-NP (S*
company NN I-NP *
said VBD B-VP *
it PRP B-NP (S(S*
expects VBZ B-VP *
to TO I-VP *
pay VB I-VP *
the DT B-NP *
first JJ I-NP *
dividend NN I-NP *
COMMA , O *
of IN B-PP *
12.5 CD B-NP *
cents NNS I-NP *
a DT B-NP *
share NN I-NP *
COMMA , O *
in IN B-PP *
the DT B-NP *
1990 CD I-NP *
first JJ I-NP *
quarter NN I-NP *S)S)
. . O *S)

Berlitz NNP B-NP (S*
will MD B-VP *
borrow VB I-VP *
an DT B-NP *
amount NN I-NP *
equal JJ B-ADJP *
to TO B-PP *
its PRP$ O *
expected VBN O *
net JJ B-NP *
proceeds NNS I-NP *
from IN B-PP *
the DT B-NP *
offerings NNS I-NP *
COMMA , O *
plus CC O *
$ $ B-NP *
50 CD I-NP *
million CD I-NP *
COMMA , O *
in IN B-PP *
connection NN B-NP *
with IN B-PP *
a DT B-NP *
credit NN I-NP *
agreement NN I-NP *
with IN B-PP *
lenders NNS B-NP *
. . O *S)

The DT B-NP (S(S*
total JJ I-NP *
borrowing NN I-NP *
will MD B-VP *
be VB I-VP *
about RB B-NP *
$ $ I-NP *
208 CD I-NP *
million CD I-NP *S)
COMMA , O *
the DT B-NP *
company NN I-NP *
said VBD B-VP *
. . O *S)

Proceeds NNS B-NP (S*
from IN B-PP *
the DT B-NP *
borrowings NNS I-NP *
under IN B-PP *
the DT B-NP *
credit NN I-NP *
agreement NN I-NP *
will MD B-VP *
be VB I-VP *
used VBN I-VP *
to TO B-VP (S*
pay VB I-VP *
an DT B-NP *
$ $ I-NP *
80 CD I-NP *
million CD I-NP *
cash NN I-NP *
dividend NN I-NP *
to TO B-PP *
Macmillan NNP B-NP *
and CC O *
to TO B-VP *
lend VB I-VP *
the DT B-NP *
remainder NN I-NP *
of IN B-PP *
about RB B-NP *
$ $ I-NP *
128 CD I-NP *
million CD I-NP *
to TO B-PP *
Maxwell NNP B-NP *
Communications NNPS I-NP *
in IN B-PP *
connection NN B-NP *
with IN B-PP *
a DT B-NP *
promissory JJ I-NP *
note NN I-NP *S)
. . O *S)

Proceeds NNS B-NP (S*
from IN B-PP *
the DT B-NP *
offering NN I-NP *
will MD B-VP *
be VB I-VP *
used VBN I-VP *
to TO B-VP (S*
repay VB I-VP *
borrowings NNS B-NP *
under IN B-PP *
the DT B-NP *
short-term JJ I-NP *
parts NNS I-NP *
of IN B-PP *
a DT B-NP *
credit NN I-NP *
agreement NN I-NP *S)
. . O *S)

Berlitz NNP B-NP (S*
COMMA , O *
which WDT B-NP (S*
is VBZ B-VP (S*
based VBN I-VP *
in IN B-PP *
Princeton NNP B-NP *
COMMA , O *
N.J. NNP B-NP *S)S)
COMMA , O *
provides VBZ B-VP *
language NN B-NP *
instruction NN I-NP *
and CC I-NP *
translation NN I-NP *
services NNS I-NP *
through IN B-PP *
more JJR B-NP *
than IN I-NP *
260 CD I-NP *
language NN I-NP *
centers NNS I-NP *
in IN B-PP *
25 CD B-NP *
countries NNS I-NP *
. . O *S)

In IN B-PP (S*
the DT B-NP *
past JJ I-NP *
five CD I-NP *
years NNS I-NP *
COMMA , O *
more JJR B-NP *
than IN I-NP *
68 CD I-NP *
% NN I-NP *
of IN B-PP *
its PRP$ B-NP *
sales NNS I-NP *
have NN B-VP *
been VBN I-VP *
outside IN B-PP *
the DT B-NP *
U.S. NNP I-NP *
. . O *S)

Macmillan NNP B-NP (S*
has VBZ B-VP *
owned VBN I-VP *
Berlitz NNP B-NP *
since IN B-PP *
1966 CD B-NP *
. . O *S)

In IN B-PP (S*
the DT B-NP *
first JJ I-NP *
six CD I-NP *
months NNS I-NP *
of IN B-PP *
this DT B-NP *
year NN I-NP *
COMMA , O *
Berlitz NNP B-NP *
posted VBD B-VP *
net JJ B-NP *
income NN I-NP *
of IN B-PP *
$ $ B-NP *
7.6 CD I-NP *
million CD I-NP *
on IN B-PP *
sales NNS B-NP *
of IN B-PP *
$ $ B-NP *
106.2 CD I-NP *
million CD I-NP *
COMMA , O *
compared VBN B-PP *
with IN B-PP *
net JJ B-NP *
income NN I-NP *
of IN B-PP *
$ $ B-NP *
8.2 CD I-NP *
million CD I-NP *
on IN B-PP *
sales NNS B-NP *
of IN B-PP *
$ $ B-NP *
90.6 CD I-NP *
million CD I-NP *
. . O *S)

Right RB B-ADVP (S*
away RB I-ADVP *
you PRP B-NP *
notice VBP B-VP *
the DT B-NP *
following VBG I-NP *
things NNS I-NP *
about IN B-PP *
a DT B-NP *
Philip NNP I-NP *
Glass NNP I-NP *
concert NN I-NP *
. . O *S)

It PRP B-NP (S*
attracts VBZ B-VP *
people NNS B-NP *
with IN B-PP *
funny JJ B-NP *
hair NN I-NP *
( -LRB- I-NP *
or CC O *
with IN B-PP *
no DT B-NP *
hair NN I-NP *
-- : O *
in IN B-PP (S*
front NN B-NP *
of IN B-PP *
me PRP B-NP *
a DT B-NP *
girl NN I-NP *
with IN B-PP *
spiked JJ B-NP *
locks NNS I-NP *
sat VBD B-VP *
beside IN B-PP *
a DT B-NP *
boy NN I-NP *
who WP B-NP (S*
had VBD B-VP (S*
shaved VBN I-VP *
his PRP$ B-NP *S)S)S)
) -RRB- I-NP *
. . O *S)

Whoever WP B-NP (S(S*
constitute VBP B-VP (S*
the DT B-NP *
local JJ I-NP *
Left NNP I-NP *
Bank NNP I-NP *S)S)
come VB B-VP *
out IN B-PP *
in IN B-PP *
force NN B-NP *
COMMA , O *
dressed VBN B-VP (S*
in IN B-PP *
black JJ B-NP *S)
COMMA , O *
along IN B-ADVP *
with IN B-PP *
a DT B-NP *
smattering NN I-NP *
of IN B-PP *
yuppies NNS B-NP *
who WP B-NP (S*
want VBP B-VP (S*
to TO I-VP *
be VB I-VP *
on IN B-PP *
the DT B-NP *
cutting VBG I-NP *
edge NN I-NP *S)S)
. . O *S)

People NNS B-NP (S*
in IN B-PP *
Glass NNP B-NP *
houses NNS I-NP *
tend VBP B-VP *
to TO I-VP *
look VB I-VP *
stoned VBN I-VP *
. . O *S)

And CC O (S(S*
COMMA , O *
if IN O (S*
still RB O *
conscious JJ B-ADJP *
at IN B-PP *
the DT B-NP *
evening NN I-NP *
's POS B-NP *
end NN I-NP *S)
COMMA , O *
you PRP B-NP *
notice VBP B-VP *
something NN B-NP *
else RB B-ADJP *S)
: : O *
The DT B-NP (S*
audience NN I-NP *
COMMA , O *
at IN B-PP *
first RB O *
entranced VBN O *
and CC O *
hypnotized VBN B-VP *
by IN B-PP *
the DT B-NP *
music NN I-NP *
COMMA , O *
releases NNS B-NP *
its PRP$ B-NP *
pent-up JJ I-NP *
feelings NNS I-NP *
in IN B-PP *
collective JJ B-NP *
gratitude NN I-NP *S)
. . O *S)

Currently RB B-ADVP (S*
in IN B-PP *
the DT B-NP *
middle NN I-NP *
of IN B-PP *
a DT B-NP *
four-week JJ I-NP *
COMMA , I-NP *
20-city JJ I-NP *
tour NN I-NP *
as IN B-PP *
a DT B-NP *
solo NN I-NP *
pianist NN I-NP *
COMMA , O *
Mr. NNP B-NP *
Glass NNP I-NP *
has VBZ B-VP *
left VBN I-VP *
behind IN B-PP *
his PRP$ B-NP *
synthesizers NNS I-NP *
COMMA , I-NP *
equipment NN I-NP *
and CC I-NP *
collaborators NNS I-NP *
in IN B-PP *
favor NN B-NP *
of IN B-PP *
going VBG B-VP (S*
it PRP B-NP *
alone RB B-ADVP *S)
. . O *S)

He PRP B-NP (S*
sits VBZ B-VP *
down RB B-ADVP *
at IN B-PP *
the DT B-NP *
piano NN I-NP *
and CC O *
plays VBZ O *
. . O *S)

And CC O (S*
plays VBZ B-VP *
. . O *S)

Either CC O (S*
one CD B-NP (S*
likes VBZ B-VP *
it PRP B-NP *S)
or CC O *
one CD B-NP (S*
does VBZ B-VP *
n't RB O *S)
. . O *S)

The DT B-NP (S*
typical JJ I-NP *
Glass NNP I-NP *
audience NN I-NP *
COMMA , O *
which WDT B-NP (S*
is VBZ B-VP (S*
more RBR B-ADJP *
likely JJ I-ADJP *
to TO B-VP (S*
be VB I-VP *
composed VBN I-VP *
of IN B-PP *
music NN B-NP *
students NNS I-NP *S)
than IN B-PP *
their PRP$ B-NP *
teachers NNS I-NP *S)S)
COMMA , O *
certainly RB B-ADVP *
does VBZ B-VP *
. . O *S)

The DT B-NP (S*
work NN I-NP *
COMMA , O *
though RB B-ADVP *
COMMA , O *
sounds VBZ B-VP *
like IN B-PP *
Muzak NNP B-NP *
for IN B-PP *
spaceships NNS B-NP *
. . O *S)

Philip NNP B-NP (S(S*
Glass NNP I-NP *
is VBZ B-VP *
the DT B-NP *
emperor NN I-NP *S)
COMMA , O *
and CC O *
his PRP$ B-NP (S*
music NN I-NP *
the DT B-NP *
new JJ I-NP *
clothes NNS I-NP *S)
COMMA , O *
of IN B-PP *
the DT B-NP *
avant-garde NN I-NP *
. . O *S)

His PRP$ B-NP (S*
success NN I-NP *
is VBZ B-VP *
easy JJ B-ADJP *
to TO B-VP (S(S*
understand VB I-VP *S)S)
. . O *S)

Softly RB B-ADVP (S(S*
introducing VBG O *
and CC O *
explaining VBG B-VP *
his PRP$ B-NP *
pieces NNS I-NP *S)
COMMA , O *
Mr. NNP B-NP *
Glass NNP I-NP *
looks VBZ B-VP *
and CC I-VP *
sounds VBZ I-VP *
more JJR B-NP *
like IN B-PP *
a DT B-NP *
shaggy JJ I-NP *
poet NN I-NP *
describing VBG B-VP *
his PRP$ B-NP *
work NN I-NP *
than IN B-PP *
a DT B-NP *
classical JJ I-NP *
pianist NN I-NP *
playing VBG B-VP *
a DT B-NP *
recital NN I-NP *
. . O *S)

The DT B-NP (S*
piano NN I-NP *
compositions NNS I-NP *
COMMA , O *
which WDT B-NP (S*
have VBP B-VP (S*
been VBN I-VP *
labeled VBN I-VP *
variously RB B-ADVP *
as IN B-PP *
minimalist JJ B-ADJP *
COMMA , O *
Oriental JJ O *
COMMA , O *
repetitive JJ O *
COMMA , O *
cyclical JJ O *
COMMA , O *
monophonic JJ O *
and CC O *
hypnotic JJ O *S)S)
COMMA , O *
are VBP O *
relentlessly RB O *
tonal JJ O *
( -LRB- O *
therefore RB B-NP *
unthreatening JJ I-NP *
) -RRB- I-NP *
COMMA , O *
unvaryingly RB O *
rhythmic JJ O *
( -LRB- O *
therefore RB O *
soporific JJ O *
) -RRB- O *
COMMA , O *
and CC O *
unflaggingly RB B-NP *
harmonious JJ I-NP *
but CC I-NP *
unmelodic JJ I-NP *
( -LRB- I-NP *
therefore RB O *
both DT O *
pretty RB B-ADVP *
and CC O *
unconventional JJ B-NP *
) -RRB- I-NP *
. . O *S)

It PRP B-NP (S*
is VBZ B-VP *
music NN B-NP *
for IN B-PP *
people NNS B-NP *
who WP B-NP (S*
want VBP B-VP (S*
to TO I-VP *
hear VB I-VP *
something NN B-NP *
different JJ B-ADJP *
but CC O *
do VBP B-VP *
n't RB I-VP *
want VB I-VP *
to TO I-VP *
work VB I-VP *
especially RB B-ADJP *
hard JJ I-ADJP *
at IN B-PP *
the DT B-NP *
task NN I-NP *S)S)
. . O *S)

It PRP B-NP (S*
is VBZ B-VP *
E-Z JJ B-NP *
listening NN I-NP *
for IN B-PP *
the DT B-NP *
now JJ I-NP *
generation NN I-NP *
. . O *S)

Mr. NNP B-NP (S*
Glass NNP I-NP *
has VBZ O *
inverted JJ O *
the DT B-NP *
famous JJ I-NP *
modernist JJ I-NP *
dictum NN I-NP *
`` `` O (S*
less JJR O *
is VBZ B-VP *
more JJR O *S)
. . O *
'' '' O *S)

His PRP$ B-NP (S*
more JJR I-NP *
is VBZ B-VP *
always RB O *
less JJR O *
. . O *S)

Far NNP B-NP (S*
from IN B-PP *
being VBG B-VP (S*
minimalist JJ B-ADJP *S)
COMMA , O *
the DT B-NP *
music NN I-NP *
unabatingly RB B-ADVP *
torments VBZ B-VP *
us PRP B-NP *
with IN B-PP *
apparent JJ B-NP *
novelties NNS I-NP *
not RB O *
so RB O *
cleverly RB O *
disguised VBN O *
in IN B-PP *
the DT B-NP *
simplicities NNS I-NP *
of IN B-PP *
4\/4 CD B-NP *
time NN I-NP *
COMMA , O *
octave JJ B-NP *
intervals NNS I-NP *
COMMA , O *
and CC O *
ragtime NN B-NP *
or CC I-NP *
gospel NN I-NP *
chord NN I-NP *
progressions NNS I-NP *
. . O *S)

But CC O (S(S*
the DT B-NP *
music NN I-NP *
has VBZ B-VP *
its PRP$ B-NP *
charm NN I-NP *S)
COMMA , O *
and CC O *
Mr. NNP B-NP (S*
Glass NNP I-NP *
has VBZ B-VP *
constructed VBN I-VP *
his PRP$ B-NP *
solo NN I-NP *
program NN I-NP *
around IN B-PP *
a DT B-NP *
move NN I-NP *
from IN B-PP *
the DT B-NP *
simple JJ I-NP *
to TO B-PP *
the DT O *
relatively RB O *
complex JJ O *S)
. . O *S)

`` `` O (S(S*
Opening VBG B-VP *
'' '' O *
( -LRB- O *
1981 CD B-NP *
) -RRB- O *
COMMA , O *
from IN B-PP *
Glassworks NNP B-NP *
COMMA , O *
introduces VBZ B-VP *
the DT B-NP *
audience NN I-NP *
to TO B-PP *
the DT B-NP *
Glass NNP I-NP *
technique NN I-NP *S)
: : O *
Never RB O (S(S(S*
straying VBG O *
too RB B-ADVP *
far RB I-ADVP *
from IN B-PP *
the DT B-NP *
piano NN I-NP *
's POS B-NP *
center NN I-NP *S)
COMMA , O *
Mr. NNP B-NP *
Glass NNP I-NP *
works VBZ B-VP *
in IN B-PP *
the DT B-NP *
two CD I-NP *
octaves NNS I-NP *
on IN B-PP *
either DT B-NP *
side NN I-NP *
of IN B-PP *
middle NN B-NP *
C NN I-NP *S)
COMMA , O *
and CC O *
his PRP$ B-NP (S*
fingers NNS I-NP *
seldom RB B-ADVP *
leave VBP B-VP *
the DT B-NP *
keys NNS I-NP *S)S)
. . O *S)

There EX B-NP (S*
is VBZ B-VP *
a DT B-NP *
recognizable JJ I-NP *
musical JJ I-NP *
style NN I-NP *
here RB B-ADVP *
COMMA , O *
but CC O *
not RB O *
a DT B-NP *
particular JJ I-NP *
performance NN I-NP *
style NN I-NP *
. . O *S)

The DT B-NP (S(S*
music NN I-NP *
is VBZ B-VP *
not RB O *
especially RB B-ADJP *
pianistic JJ I-ADJP *S)
; : O *
indeed RB B-ADVP (S*
COMMA , O *
it PRP B-NP *
's VBZ B-VP *
hard JJ B-ADJP *
to TO B-VP (S*
imagine VB I-VP *
a DT B-NP *
bad JJ I-NP *
performance NN I-NP *
of IN B-PP *
it PRP B-NP *S)S)
. . O *S)

Nothing NN B-NP (S*
bravura NN I-NP *
COMMA , O *
no DT B-NP *
arpeggios NNS I-NP *
COMMA , O *
no DT B-NP *
ticklish JJ I-NP *
fingering NN I-NP *
problems NNS I-NP *
challenge VBP B-VP *
the DT B-NP *
performer NN I-NP *
. . O *S)

We PRP B-NP (S(S*
hear VBP B-VP *
COMMA , O *
we PRP B-NP (S*
may MD B-VP *
think VB I-VP *S)
COMMA , O *
inner JJ B-NP *
voices NNS I-NP *S)
COMMA , O *
but CC O *
they PRP B-NP (S*
all DT O *
seem VB O *
to TO O *
be VB O *
saying VBG O *
the DT B-NP *
same JJ I-NP *
thing NN I-NP *S)
. . O *S)

With IN B-PP (S*
`` `` O *
Planet NNP B-NP *
News NNP I-NP *
COMMA , O *
'' '' O *
music NN B-NP *
meant VBD B-VP *
to TO I-VP *
accompany VB I-VP *
readings NNS B-NP *
of IN B-PP *
Allen NNP B-NP *
Ginsberg NNP I-NP *
's POS B-NP *
`` `` I-NP *
Wichita NNP I-NP *
Vortex NNP I-NP *
Sutra NN I-NP *
COMMA , O *
'' '' O *
Mr. NNP B-NP *
Glass NNP I-NP *
gets VBZ B-VP *
going VBG I-VP *
. . O *S)

His PRP$ B-NP (S*
hands NNS I-NP *
sit VBP O *
farther RB O *
apart RB O *
on IN B-PP *
the DT B-NP *
keyboard NN I-NP *
. . O *S)

Seventh JJ B-NP (S*
chords NNS I-NP *
make VBP B-VP *
you PRP B-NP (S*
feel VBP B-VP *
as IN B-SBAR (S*
though IN I-SBAR *
he PRP B-NP (S*
may MD B-VP *
break VB I-VP *
into IN B-PP *
a DT B-NP *
( -LRB- I-NP *
very RB I-NP *
slow JJ I-NP *
) -RRB- I-NP *
improvisatory JJ I-NP *
riff NN I-NP *S)S)S)
. . O *S)

The DT B-NP (S(S*
chords NNS I-NP *
modulate VBP B-VP *S)
COMMA , O *
but CC O *
there EX B-NP (S*
is VBZ B-VP *
little JJ O *
filigree JJ O *
even RB B-SBAR (S*
though IN I-SBAR *
his PRP$ B-NP (S*
fingers NNS I-NP *
begin VBP B-VP *
to TO I-VP *
wander VB I-VP *
over IN O *
more JJR B-NP *
of IN B-PP *
the DT B-NP *
keys NNS I-NP *S)S)S)
. . O *S)

Contrasts NNS B-NP (S(S*
predictably RB B-ADVP *
accumulate VBP B-VP *S)
: : O *
First NNP B-NP (S(S*
the DT B-NP *
music NN I-NP *
is VBZ B-VP *
loud JJ B-ADJP *S)
COMMA , O *
then RB B-ADVP (S*
it PRP B-NP *
becomes VBZ B-VP *
soft JJ B-ADJP *S)
COMMA , O *
then RB O (S*
( -LRB- O *
you PRP B-NP (S*
realize VBP B-VP *S)
) -RRB- O *
it PRP B-NP *
becomes VBZ B-VP *
louder RBR B-ADVP *
again RB I-ADVP *S)S)
. . O *S)

`` `` O (S(S*
The DT B-NP *
Fourth NNP I-NP *
Knee NN I-NP *
Play NNP I-NP *
COMMA , O *
'' '' O *
an DT B-NP *
interlude NN I-NP *
from IN B-PP *
`` `` O *
Einstein NNP B-NP *
on IN B-PP *
the DT B-NP *
Beach NNP I-NP *
COMMA , O *
'' '' O *
is VBZ B-VP *
like IN B-PP *
a DT B-NP *
toccata NN I-NP *S)
but CC O *
it PRP B-NP (S*
does VBZ B-VP *
n't RB I-VP *
seem VB I-VP *
to TO I-VP *
move VB I-VP *
much JJ B-NP *
beyond IN B-PP *
its PRP$ B-NP *
left-hand JJ I-NP *
ground NN I-NP *
in IN B-PP *
`` `` O *
Three CD B-NP *
Blind JJ I-NP *
Mice NNS I-NP *S)
. . O *
'' '' O *S)

When WRB B-ADVP (S(S*
Mr. NNP B-NP (S*
Glass NNP I-NP *
decides VBZ B-VP *
to TO I-VP *
get VB I-VP *
really RB B-ADJP *
fancy JJ I-ADJP *S)S)
COMMA , O *
he PRP B-NP *
crosses VBZ B-VP *
his PRP$ B-NP *
hands NNS I-NP *
and CC O *
hits VBZ B-VP *
a DT B-NP *
resonant JJ I-NP *
bass NN I-NP *
note NN I-NP *
with IN B-PP *
his PRP$ B-NP *
right JJ I-NP *
hand NN I-NP *
. . O *S)

He PRP B-NP (S*
does VBZ B-VP *
this DT B-NP *
in NN I-NP *
at IN B-NP *
least JJS I-NP *
three CD I-NP *
of IN B-PP *
his PRP$ B-NP *
solo NN I-NP *
pieces NNS I-NP *
. . O *S)

You PRP B-NP (S*
might MD B-VP *
call VB I-VP *
it PRP B-NP *
a DT B-NP *
leitmotif NN I-NP *
or CC O *
a DT B-NP *
virtuoso JJ I-NP *
accomplishment NN I-NP *
. . O *S)

In IN B-PP (S*
`` `` O *
Mad NNP B-NP *
Rush NNP I-NP *
COMMA , O *
'' '' O *
which WDT B-NP (S*
came VBD B-VP (S*
from IN B-PP *
a DT B-NP *
commission NN I-NP *
to TO B-VP (S*
write VB I-VP *
a DT B-NP *
piece NN I-NP *
of IN B-PP *
indeterminate JJ B-NP *
length NN I-NP *S)S)S)
( -LRB- O *
Mr. NNP B-NP (S*
Glass NNP I-NP *
charmingly RB B-ADVP *
COMMA , O *
and CC O *
tellingly RB B-ADVP *
COMMA , O *
confessed VBD B-VP *
that IN B-SBAR (S*
`` `` O (S*
this DT B-NP *
was VBD B-VP *
no DT B-NP *
problem NN I-NP *
for IN B-PP *
me PRP B-NP *
'' '' O *S)S)S)
) -RRB- B-NP *
COMMA , O *
an DT B-NP *
A DT I-NP *
section NN I-NP *
alternates VBZ B-VP *
with IN B-PP *
a DT B-NP *
B NNP I-NP *
section NN I-NP *
several JJ B-NP *
times NNS I-NP *
before IN B-PP (S*
the DT B-NP (S*
piece NN I-NP *
ends NNS I-NP *
unresolved JJ B-ADJP *S)S)
. . O *S)

Not RB O (S(S*
only RB O *
is VBZ B-VP *
the DT B-NP *
typical JJ I-NP *
Glasswork NNP I-NP *
open-ended JJ I-NP *S)
COMMA , O *
it PRP B-NP (S*
is VBZ B-VP *
also RB O *
often RB O *
multiple JJ O *
in IN B-PP *
its PRP$ B-NP *
context NN I-NP *
( -LRB- O *
s PRP B-NP *
) -RRB- B-VP *S)
. . O *S)

`` `` O (S*
Mad NNP B-NP *
Rush NNP I-NP *
'' '' O *
began VBD B-VP *
its PRP$ B-NP *
life NN I-NP *
as IN B-PP *
the DT B-NP *
accompaniment NN I-NP *
to TO B-PP *
the DT B-NP *
Dalai NNP I-NP *
Lama NNP I-NP *
's POS B-NP *
first JJ I-NP *
public JJ I-NP *
address NN I-NP *
in IN B-PP *
the DT B-NP *
U.S. NNP I-NP *
COMMA , O *
when WRB B-ADVP (S*
Mr. NNP B-NP (S*
Glass NNP I-NP *
played VBD B-VP *
it PRP B-NP *
on IN B-PP *
the DT B-NP *
organ NN I-NP *
at IN B-PP *
New NNP B-NP *
York NNP I-NP *
's POS B-NP *
Cathedral NNP I-NP *
of IN B-PP *
St. NNP B-NP *
John NNP I-NP *
the DT B-NP *
Divine NNP I-NP *S)S)
. . O *S)

Later RB B-ADVP (S(S*
it PRP B-NP *
was VBD B-VP *
performed VBN I-VP *
on IN B-PP *
Radio NNP B-NP *
Bremen NNP I-NP *
in IN B-PP *
Germany NNP B-NP *S)
COMMA , O *
and CC O *
then RB B-ADVP (S*
Lucinda NNP B-NP *
Childs NNP I-NP *
took VBD B-VP *
it PRP B-NP *
for IN B-PP *
one CD B-NP *
of IN B-PP *
her PRP$ B-NP *
dance NN I-NP *
pieces NNS I-NP *S)
. . O *S)

The DT B-NP (S*
point NN I-NP *
is VBZ B-VP *
that IN B-SBAR (S*
any DT B-NP (S*
piece NN I-NP *
can MD B-VP *
be VB I-VP *
used VBN I-VP *
as IN B-PP *
background NN B-NP *
music NN I-NP *
for IN B-PP *
virtually JJ B-NP *
anything NN I-NP *S)S)
. . O *S)

The DT B-NP (S*
evening NN I-NP *
ended VBD B-VP *
with IN B-PP *
Mr. NNP B-NP *
Glass NNP I-NP *
's POS B-NP *
`` `` I-NP *
Metamorphosis NN I-NP *
COMMA , O *
'' '' O *
another DT B-NP *
multiple JJ I-NP *
work NN I-NP *
. . O *S)

Parts NNS B-NP (S(S*
1 CD B-NP *
COMMA , I-NP *
2 CD I-NP *
COMMA , O *
and CC O *
5 NN B-NP *
come VB B-VP *
from IN B-PP *
the DT B-NP *
soundtrack NN I-NP *
of IN B-PP *
Errol NNP B-NP *
Morris NNP I-NP *
's POS B-NP *
acclaimed VBN I-NP *
film NN I-NP *
COMMA , O *
`` `` O *
The DT B-NP *
Thin NNP I-NP *
Blue NNP I-NP *
Line NNP I-NP *S)
COMMA , O *
'' '' O *
and CC O *
the DT B-NP (S*
two CD I-NP *
other JJ I-NP *
parts NNS I-NP *
from IN B-PP *
incidental JJ B-NP *
music NN I-NP *
to TO B-PP *
two CD B-NP *
separate JJ I-NP *
dramatizations NNS I-NP *
of IN B-PP *
the DT B-NP *
Kafka NNP I-NP *
story NN I-NP *
of IN B-PP *
the DT B-NP *
same JJ I-NP *
name NN I-NP *S)
. . O *S)

When WRB B-ADVP (S(S*
used VBN B-VP (S*
as IN B-PP *
background NN B-NP *
in IN B-PP *
this DT B-NP *
way NN I-NP *S)S)
COMMA , O *
the DT B-NP *
music NN I-NP *
has VBZ B-VP *
an DT B-NP *
appropriate JJ I-NP *
eeriness NN I-NP *
COMMA , O *
as IN B-SBAR (S*
when WRB B-ADVP *
a DT B-NP (S*
two-note JJ I-NP *
phrase NN I-NP *
COMMA , O *
a DT B-NP *
descending VBG I-NP *
minor JJ I-NP *
third NN I-NP *
COMMA , O *
accompanies VBZ B-VP *
the DT B-NP *
seemingly RB I-NP *
endless JJ I-NP *
litany NN I-NP *
of IN B-PP *
reports NNS B-NP *
COMMA , O *
interviews NNS B-NP *
and CC I-NP *
confessions NNS I-NP *
of IN B-PP *
witnesses NNS B-NP *
in IN B-PP *
the DT B-NP *
Morris NNP I-NP *
film NN I-NP *S)S)
. . O *S)

Served VBN B-VP (S(S*
up IN B-PRT *
as IN B-PP *
a DT B-NP *
solo NN I-NP *S)
COMMA , O *
however RB B-ADVP *
COMMA , O *
the DT B-NP *
music NN I-NP *
lacks VBZ B-VP *
the DT B-NP *
resonance NN I-NP *
provided VBN B-VP *
by IN B-PP *
a DT B-NP *
context NN I-NP *
within IN B-PP *
another DT B-NP *
medium NN I-NP *
. . O *S)

Admirers NNS B-NP (S*
of IN B-PP *
Mr. NNP B-NP *
Glass NNP I-NP *
may MD B-VP *
agree VB I-VP *
with IN B-PP *
the DT B-NP *
critic NN I-NP *
Richard NNP B-NP *
Kostelanetz NNP I-NP *
's POS B-NP *
sense NN I-NP *
that IN B-SBAR (S*
the DT B-NP (S*
1974 CD I-NP *
`` `` O *
Music NNP B-NP *
in IN B-PP *
Twelve CD B-NP *
Parts NNS I-NP *
'' '' O *
is VBZ B-VP *
as IN O *
encyclopedic JJ O *
and CC O *
weighty JJ O *
as IN O *
`` `` O *
The DT B-NP *
Well-Tempered JJ I-NP *
Clavier NN I-NP *S)S)
. . O *
'' '' O *S)

But CC O (S*
while IN B-SBAR (S*
making VBG B-VP (S*
the DT B-NP *
obvious JJ I-NP *
point NN I-NP *
that IN B-SBAR (S*
both DT B-NP (S*
composers NNS I-NP *
develop VBP B-VP *
variations NNS B-NP *
from IN B-PP *
themes NNS B-NP *S)S)S)S)
COMMA , O *
this DT B-NP *
comparison NN I-NP *
ignores VBZ B-VP *
the DT B-NP *
intensely RB I-NP *
claustrophobic JJ I-NP *
nature NN I-NP *
of IN B-PP *
Mr. NNP B-NP *
Glass NNP I-NP *
's POS B-NP *
music NN I-NP *
. . O *S)

Its PRP$ B-NP (S*
supposedly RB I-NP *
austere JJ I-NP *
minimalism NN I-NP *
overlays VBZ B-VP *
a DT B-NP *
bombast NN I-NP *
that WDT B-NP (S*
makes VBZ B-VP (S*
one CD O (S*
yearn VB O *
for IN B-PP *
the DT B-NP *
astringency NN I-NP *
of IN B-PP *
neoclassical JJ B-NP *
Stravinsky NNP I-NP *
COMMA , O *
the DT B-NP *
genuinely RB I-NP *
radical JJ I-NP *
minimalism NN I-NP *
of IN B-PP *
Berg NNP B-NP *
and CC I-NP *
Webern NNP I-NP *
COMMA , O *
and CC O *
what WP B-NP (S*
in IN B-PP (S*
retrospect NN B-NP *
even RB B-ADVP *
seems VBZ B-VP *
like IN B-PP *
concision NN B-NP *
in IN B-PP *
Mahler NNP B-NP *S)S)S)S)S)
. . O *S)

Mr. NNP B-NP (S*
Spiegelman NNP I-NP *
is VBZ B-VP *
professor NN B-NP *
of IN B-PP *
English NNP B-NP *
at IN B-PP *
Southern NNP B-NP *
Methodist NNP I-NP *
University NNP I-NP *
and CC O *
editor NN B-NP *
of IN B-PP *
the DT B-NP *
Southwest NNP I-NP *
Review NNP I-NP *
. . O *S)

Honeywell NNP B-NP (S*
Inc. NNP I-NP *
said VBD B-VP *
it PRP B-NP (S(S*
hopes VBZ B-VP *
to TO I-VP *
complete VB I-VP *
shortly RB B-ADVP *
the DT B-NP *
first JJ I-NP *
of IN B-PP *
two CD B-NP *
sales NNS I-NP *
of IN B-PP *
shares NNS B-NP *
in IN B-PP *
its PRP$ B-NP *
Japanese JJ I-NP *
joint JJ I-NP *
venture NN I-NP *
COMMA , O *
Yamatake-Honeywell NNP B-NP *
COMMA , O *
for IN B-PP *
about RB B-NP *
$ $ I-NP *
280 CD I-NP *
million CD I-NP *S)S)
. . O *S)

The DT B-NP (S*
company NN I-NP *
would MD B-VP *
n't RB I-VP *
disclose VB I-VP *
the DT B-NP *
buyer NN I-NP *
of IN B-PP *
the DT B-NP *
initial JJ I-NP *
16 CD I-NP *
% NN I-NP *
stake NN I-NP *
. . O *S)

Proceeds NNS B-NP (S(S*
of IN B-PP *
the DT B-NP *
sale NN I-NP *
COMMA , O *
expected VBN B-VP *
to TO I-VP *
be VB I-VP *
completed VBN I-VP *
next JJ B-NP *
week NN I-NP *
COMMA , O *
would MD B-VP *
be VB I-VP *
used VBN I-VP *
to TO B-VP (S*
repurchase VB I-VP *
as RB B-NP *
many JJ I-NP *
as IN I-NP *
10 CD I-NP *
million CD I-NP *
shares NNS I-NP *
of IN B-PP *
Honeywell NNP B-NP *
stock NN I-NP *S)S)
COMMA , O *
the DT B-NP *
company NN I-NP *
said VBD B-VP *
. . O *S)

Honeywell NNP B-NP (S*
said VBD B-VP *
it PRP B-NP (S(S*
is VBZ B-VP *
negotiating VBG I-VP *
the DT B-NP *
sale NN I-NP *
of IN B-PP *
a DT B-NP *
second JJ I-NP *
stake NN I-NP *
in IN B-PP *
Yamatake-Honeywell NNP B-NP *S)S)
COMMA , O *
but CC O *
indicated VBD B-VP *
it PRP B-NP (S(S*
intends VBZ B-VP *
to TO I-VP *
hold VB I-VP *
at IN B-NP *
least JJS I-NP *
20 CD I-NP *
% NN I-NP *
of IN B-PP *
the DT B-NP *
joint JJ I-NP *
venture NN I-NP *
's POS B-NP *
stock NN I-NP *
long JJ I-NP *
term NN I-NP *S)S)
. . O *S)

A DT B-NP (S*
20 CD I-NP *
% NN I-NP *
stake NN I-NP *
would MD B-VP *
allow VB I-VP *
Honeywell NNP B-NP (S*
to TO B-VP *
include VB I-VP *
Yamatake NNP B-NP *
earnings NNS I-NP *
in IN B-PP *
its PRP$ B-NP *
results NNS I-NP *S)
. . O *S)

Honeywell NNP B-NP (S*
previously RB B-ADVP *
said VBD B-VP *
it PRP B-NP (S(S*
intended VBD B-VP *
to TO I-VP *
reduce VB I-VP *
its PRP$ B-NP *
holding NN I-NP *
in IN B-PP *
the DT B-NP *
Japanese JJ I-NP *
concern NN I-NP *
as IN B-PP *
part NN B-NP *
of IN B-PP *
a DT B-NP *
restructuring NN I-NP *
plan NN I-NP *
which WDT B-NP (S*
also RB B-ADVP (S*
calls VBZ B-VP *
for IN B-PP *
a DT B-NP *
reduction NN I-NP *
of IN B-PP *
dependence NN B-NP *
on IN B-PP *
weapons NNS B-NP *
sales NNS I-NP *S)S)S)S)
. . O *S)

Yesterday NN B-NP (S*
a DT B-NP *
spokeswoman NN I-NP *
said VBD B-VP *
the DT B-NP (S(S*
company NN I-NP *
was VBD B-VP *
`` `` O *
pleased VBN B-VP *
with IN B-PP *
our PRP$ B-NP *
progress NN I-NP *
'' '' O *
in IN B-PP *
that DT B-NP *
regard NN I-NP *
and CC O *
`` `` O *
hopes VBZ B-VP *
to TO I-VP (S*
provide VB I-VP *
additional JJ B-NP *
details NNS I-NP *
soon RB B-ADVP *S)S)S)
. . O *
'' '' O *S)

Honeywell NNP B-NP (S*
said VBD B-VP *
its PRP$ B-NP (S(S*
Defense NNP I-NP *
and CC I-NP *
Marine NNP I-NP *
Systems NNP I-NP *
group NN I-NP *
incurred VBD B-VP *
delays NNS B-NP *
in IN B-PP *
shipping VBG B-VP (S*
some DT B-NP *
undisclosed JJ I-NP *
contracts NNS I-NP *
during IN B-PP *
the DT B-NP *
third JJ I-NP *
quarter NN I-NP *S)
COMMA , O *
resulting VBG B-VP *
in IN B-PP *
lower JJR B-NP *
operating VBG I-NP *
profit NN I-NP *
for IN B-PP *
that DT B-NP *
business NN I-NP *S)S)
. . O *S)

Overall RB B-ADVP (S*
COMMA , O *
Honeywell NNP B-NP *
reported VBD B-VP *
earnings NNS B-NP *
of IN B-PP *
$ $ B-NP *
74.4 CD I-NP *
million CD I-NP *
COMMA , O *
or CC O *
$ $ B-NP *
1.73 CD I-NP *
a DT B-NP *
share NN I-NP *
COMMA , O *
for IN B-PP *
the DT B-NP *
three CD I-NP *
months NNS I-NP *
ended VBD B-VP *
Oct. NNP B-NP *
1 CD I-NP *
compared VBN B-PP *
with IN B-PP *
a DT B-NP *
loss NN I-NP *
of IN B-PP *
$ $ B-NP *
41.4 CD I-NP *
million CD I-NP *
COMMA , O *
or CC O *
98 CD B-NP *
cents NNS I-NP *
a DT B-NP *
share NN I-NP *
COMMA , O *
a DT B-NP *
year NN I-NP *
earlier RBR B-ADVP *
. . O *S)

The DT B-NP (S*
previous JJ I-NP *
period NN I-NP *
's POS B-NP *
results NNS I-NP *
included VBD B-VP *
a DT B-NP *
$ $ I-NP *
108 CD I-NP *
million CD I-NP *
pretax JJ I-NP *
charge NN I-NP *
related VBN B-VP *
to TO B-PP *
unrecoverable JJ B-NP *
contract NN I-NP *
costs NNS I-NP *
and CC O *
a DT B-NP *
$ $ I-NP *
12.3 CD I-NP *
million CD I-NP *
pretax JJ I-NP *
gain NN I-NP *
on IN B-PP *
real JJ B-NP *
estate NN I-NP *
sales NNS I-NP *
. . O *S)

Sales NNS B-NP (S*
for IN B-PP *
the DT B-NP *
latest JJS I-NP *
quarter NN I-NP *
were VBD B-VP *
flat JJ B-ADJP *
COMMA , O *
at IN B-PP *
$ $ B-NP *
1.72 CD I-NP *
billion CD I-NP *
. . O *S)

For IN B-PP (S*
the DT B-NP *
nine CD I-NP *
months NNS I-NP *
COMMA , O *
Honeywell NNP B-NP *
reported VBD B-VP *
earnings NNS B-NP *
of IN B-PP *
$ $ B-NP *
212.1 CD I-NP *
million CD I-NP *
COMMA , O *
or CC O *
$ $ B-NP *
4.92 CD I-NP *
a DT B-NP *
share NN I-NP *
COMMA , O *
compared VBN B-PP *
with IN B-PP *
earnings NNS B-NP *
of IN B-PP *
$ $ B-NP *
47.9 CD I-NP *
million CD I-NP *
COMMA , O *
or CC O *
$ $ B-NP *
1.13 CD I-NP *
a DT B-NP *
share NN I-NP *
COMMA , O *
a DT B-NP *
year NN I-NP *
earlier RBR B-ADVP *
. . O *S)

Sales NNS B-NP (S*
declined VBD B-VP *
slightly RB B-ADVP *
to TO B-PP *
$ $ B-NP *
5.17 CD I-NP *
billion CD I-NP *
. . O *S)

Once RB B-ADVP (S*
again RB I-ADVP *
COMMA , O *
your PRP$ B-NP *
editorial NN I-NP *
page NN I-NP *
misstates VBZ B-VP *
the DT B-NP *
law NN I-NP *
to TO B-VP (S(S*
conform VB I-VP *
to TO B-PP *
your PRP$ B-NP *
almost RB I-NP *
beatific JJ I-NP *
misperceptions NNS I-NP *S)S)
. . O *S)

In IN B-PP (S*
an DT B-NP *
excursus NN I-NP *
of IN B-PP *
little JJ B-NP *
relevance NN I-NP *
to TO B-PP *
his PRP$ B-NP *
central JJ I-NP *
point NN I-NP *
about IN B-PP *
private JJ B-NP *
enforcement NN I-NP *
suits NNS I-NP *
by IN B-PP *
environmental JJ B-NP *
groups NNS I-NP *
COMMA , O *
Michael NNP B-NP *
S. NNP I-NP *
Greve NNP I-NP *
informs VBZ B-VP *
your PRP$ B-NP *
readers NNS I-NP *
COMMA , O *
`` `` O *
... : O (S*
the DT B-NP (S*
Clean NNP I-NP *
Water NNP I-NP *
Act NNP I-NP *
is VBZ B-VP *
written VBN I-VP *
upon IN B-PP *
the DT B-NP *
presumption NN I-NP *
-- : O *
the DT B-NP *
pretense NN I-NP *
COMMA , O *
rather RB O *
-- : O *
that DT B-NP (S*
nothing NN I-NP (S*
but CC O *
zero CD B-NP *
risk NN I-NP *
will MD B-VP *
do VB I-VP *S)S)S)
; : O *
it PRP B-NP (S*
establishes VBZ B-VP *
a DT B-NP *
legal JJ I-NP *
standard NN I-NP *
of IN B-PP *
zero CD B-NP *
discharge NN I-NP *S)S)
'' '' O *
( -LRB- O *
`` `` O *
Congress's NNP B-NP *
Environmental NNP I-NP *
Buccaneers NNS I-NP *
COMMA , O *
'' '' O *
Sept. NNP B-NP *
18 CD I-NP *
) -RRB- O *
. . O *S)

This DT B-NP (S(S*
statement NN I-NP *
surely RB B-ADVP *
buttresses VBZ B-VP *
your PRP$ B-NP *
editorial NN I-NP *
viewpoint NN I-NP *
that IN B-SBAR (S*
environmental JJ B-NP (S*
protection NN I-NP *
is VBZ B-VP *
generally RB O *
silly JJ B-ADJP *
or CC I-ADJP *
excessive JJ I-ADJP *S)S)S)
COMMA , O *
but CC O *
it PRP B-NP (S*
is VBZ B-VP *
simply RB O *
wrong JJ B-ADJP *S)
. . O *S)

The DT B-NP (S*
Clean NNP I-NP *
Water NNP I-NP *
Act NNP I-NP *
contains VBZ B-VP *
no DT O *
`` `` O *
legal JJ O *
standard JJ O *
'' '' O *
of IN B-PP *
zero CD B-NP *
discharge NN I-NP *
. . O *S)

It PRP B-NP (S*
requires VBZ B-VP *
that IN B-SBAR (S*
`` `` O (S*
discharges NNS B-NP *
of IN B-PP *
pollutants NNS B-NP *
'' '' O *
into IN B-PP *
the DT B-NP *
`` `` I-NP *
waters NNS I-NP *
of IN B-PP *
the DT B-NP *
United NNP I-NP *
States NNPS I-NP *
'' '' O *
be VB O *
authorized VBN O *
by IN B-PP *
permits VBZ O *
that WDT B-NP (S*
reflect VBP B-VP (S*
the DT B-NP *
effluent NN I-NP *
limitations NNS I-NP *
developed VBN B-VP *
under IN B-PP *
section NN B-NP *
301 CD I-NP *S)S)S)S)
. . O *S)

Whatever WDT B-NP (S(S*
may MD B-VP (S*
be VB I-VP *
the DT B-NP *
problems NNS I-NP *
with IN B-PP *
this DT B-NP *
system NN I-NP *S)S)
COMMA , O *
it PRP B-NP *
scarcely RB B-ADVP *
reflects VBZ B-VP *
`` `` O *
zero CD B-NP *
risk NN I-NP *
'' '' O *
or CC O *
`` `` O *
zero CD B-NP *
discharge NN I-NP *
. . O *
'' '' O *S)

Perhaps RB B-ADVP (S*
Mr. NNP B-NP *
Greve NNP I-NP *
was VBD B-VP *
confused VBN I-VP *
by IN B-PP *
Congress NNP B-NP *
's POS B-NP *
meaningless JJ I-NP *
statement NN I-NP *
of IN B-PP *
`` `` O *
the DT B-NP *
national JJ I-NP *
goal NN I-NP *
'' '' O *
in IN B-PP *
section NN B-NP *
101 CD I-NP *
COMMA , O *
which WDT B-NP (S*
indeed RB B-ADVP *
calls VBZ B-VP (S*
for IN B-PP *
the DT B-NP *
elimination NN I-NP *
of IN B-PP *
discharges NNS B-NP *
-- : O *
by IN B-PP *
1985 CD B-NP *
COMMA , O *
no DT B-NP *
less JJR I-NP *S)S)
. . O *S)

This DT B-NP (S*
fatuous JJ I-NP *
statement NN I-NP *
was VBD B-VP *
not RB I-VP *
taken VBN I-VP *
seriously RB B-ADVP *
when WRB B-ADVP (S*
enacted VBN O (S*
in IN B-PP *
1972 CD B-NP *S)S)
COMMA , O *
and CC O *
should MD B-VP *
not RB I-VP *
now RB I-VP *
be VB I-VP *
confused VBN I-VP *
with IN B-PP *
the DT B-NP *
operative JJ I-NP *
provisions NNS I-NP *
of IN B-PP *
the DT B-NP *
statute NN I-NP *
. . O *S)

Thus RB B-ADVP (S(S*
COMMA , O *
you PRP B-NP *
do VBP B-VP *
the DT B-NP *
public JJ I-NP *
a DT I-NP *
great JJ I-NP *
disservice NN I-NP *
when WRB B-ADVP (S*
Mr. NNP B-NP (S*
Greve NNP I-NP *
suggests VBZ B-VP *
COMMA , O *
even RB B-ADVP *
facetiously RB I-ADVP *
COMMA , O *
that IN B-SBAR (S*
the DT B-NP (S*
Clean NNP I-NP *
Water NNP I-NP *
Act NNP I-NP *
prohibits VBZ B-VP *
the DT B-NP *
preparation NN I-NP *
of IN B-PP *
a DT B-NP *
scotch NN I-NP *
and CC I-NP *
water NN I-NP *S)S)S)S)S)
; : O *
your PRP$ B-NP (S*
tippling JJ I-NP *
readers NNS I-NP *
may MD B-VP *
be VB I-VP *
led VBN I-VP *
to TO B-VP *
believe VB I-VP *
that DT B-NP (S*
nothing NN I-NP (S*
but CC I-NP *
chance NN I-NP *
or CC I-NP *
oversight NN I-NP *
protects VBZ B-VP *
them PRP B-NP *
COMMA , O *
as IN B-SBAR (S*
they PRP B-NP (S*
cower VBP B-VP *
in IN B-PP *
the DT B-NP *
night NN I-NP *
with IN B-PP *
their PRP$ B-NP *
scotch NN I-NP *
and CC I-NP *
waters NNS I-NP *S)S)
COMMA , O *
from IN B-PP *
the DT B-NP *
hairyknuckled JJ I-NP *
knock NN I-NP *
of IN B-PP *
the DT B-NP *
Sierra NNP I-NP *
Club NNP I-NP *
at IN B-PP *
their PRP$ B-NP *
doors NNS I-NP *S)S)S)
. . O *S)

Robert NNP B-NP *
J. NNP I-NP *
McManus NNP I-NP *

National NNP B-NP (S*
Geographic NNP I-NP *
COMMA , O *
the DT B-NP *
sixth-largest JJ I-NP *
U.S. NNP I-NP *
magazine NN I-NP *
COMMA , O *
is VBZ B-VP *
attracting VBG I-VP *
more JJR B-NP *
readers NNS I-NP *
than IN B-PP *
ever RB O *
and CC O *
offers VBZ B-VP *
the DT B-NP *
glossy JJ I-NP *
COMMA , I-NP *
high-toned JJ I-NP *
pages NNS I-NP *
that IN B-SBAR (S*
upscale JJ B-NP (S*
advertisers NNS I-NP *
love VBP B-VP *S)S)
. . O *S)

So RB O (S*
why WRB B-ADVP *
did VBD B-VP (S(S*
advertising NN B-NP *
pages NNS I-NP *
plunge VBP B-VP *
by IN B-PP *
almost RB B-NP *
10 CD I-NP *
% NN I-NP *S)
and CC I-NP *
ad NN I-NP (S*
revenue NN I-NP *
by IN B-PP *
7.2 CD B-NP *
% NN I-NP *S)
in IN B-PP *
the DT B-NP *
first JJ I-NP *
half NN I-NP *S)
? . O *S)

To TO B-VP (S(S*
hear VB I-VP *
advertisers NNS B-NP (S*
tell VB B-VP *
it PRP B-NP *S)S)
COMMA , O *
the DT B-NP *
magazine NN I-NP *
just RB B-ADVP *
has VBZ B-VP *
n't RB I-VP *
kept VBN I-VP *
up IN B-PRT *
with IN B-PP *
the DT B-NP *
times NNS I-NP *
. . O *S)

Despite IN B-PP (S*
renewed VBN B-NP *
interest NN I-NP *
by IN B-PP *
the DT B-NP *
public NN I-NP *
in IN B-PP *
such JJ B-NP *
topics NNS I-NP *
as IN B-PP *
the DT B-NP *
environment NN I-NP *
and CC O *
the DT B-NP *
Third NNP I-NP *
World NNP I-NP *
COMMA , O *
it PRP B-NP *
has VBZ B-VP *
n't RB I-VP *
been VBN I-VP *
able JJ B-ADJP *
to TO B-VP (S*
shake VB I-VP *
its PRP$ B-NP *
reputation NN I-NP *
as IN B-PP *
a DT B-NP *
magazine NN I-NP *
boys NNS I-NP (S(S*
like VB O *
to TO O *
flip VB O *
through IN B-PP *
in IN B-PP *
search NN B-NP *
of IN B-PP *
topless JJ B-NP *
tribe NN I-NP *
women NNS I-NP *S)S)S)
. . O *S)

Worse JJR B-NP (S*
COMMA , O *
it PRP B-NP *
lagged VBD B-VP *
behind IN B-PP *
competitors NNS B-NP *
in IN B-PP *
offering VBG B-VP (S*
now-standard JJ B-NP *
gimmicks NNS I-NP *
COMMA , O *
from IN B-PP *
regional JJ B-NP *
editions NNS I-NP *
to TO B-PP *
discounts NNS B-NP *
for IN B-PP *
frequent JJ B-NP *
advertisers NNS I-NP *S)
. . O *S)

But CC O (S*
now RB B-ADVP *
COMMA , O *
the DT B-NP *
magazine NN I-NP *
is VBZ B-VP *
attempting VBG I-VP *
to TO I-VP *
fight VB I-VP *
back RB B-PRT *
COMMA , O *
with IN B-PP *
an DT B-NP *
ambitious JJ I-NP *
plan NN I-NP *
including VBG B-PP *
a DT B-NP *
revamped VBN I-NP *
sales NNS I-NP *
strategy NN I-NP *
and CC O *
a DT B-NP *
surprisingly RB I-NP *
aggressive JJ I-NP *
ad NN I-NP *
campaign NN I-NP *
. . O *S)

Advertisers NNS B-NP (S(S*
do VBP B-VP *
n't RB I-VP *
think VB I-VP *
of IN B-PP *
the DT O *
magazine NN O *
first JJ O *S)
COMMA , O *
says VBZ B-VP *
Joan NNP B-NP *
McCraw NNP I-NP *
COMMA , O *
who WP B-NP (S*
joined VBD B-VP (S*
in IN B-PP *
April NNP B-NP *
as IN B-PP *
national JJ B-NP *
advertising NN I-NP *
director NN I-NP *S)S)
. . O *S)

`` `` O (S*
What WP B-NP (S*
we PRP B-NP (S*
want VBP B-VP *
to TO I-VP *
do VB I-VP *S)S)
is VBZ B-VP *
take VB I-VP (S*
a DT B-NP *
more RBR I-NP *
aggressive JJ I-NP *
stance NN I-NP *S)
. . O *S)

People NNS B-NP (S*
did VBD B-VP *
n't RB I-VP *
believe VB I-VP *
we PRP B-NP (S(S(S*
were VBD B-VP *
in IN B-PP *
tune NN B-NP *
with IN B-PP *
the DT B-NP *
marketplace NN I-NP *S)
COMMA , O *
and CC O *
in IN B-PP (S*
many JJ B-NP *
ways NNS I-NP *
we PRP B-NP *
were VBD B-VP *
n't RB O *S)S)S)
. . O *
'' '' O *S)

The DT B-NP (S*
101-year-old JJ I-NP *
magazine NN I-NP *
has VBZ B-VP *
never RB I-VP *
had VBN I-VP *
to TO I-VP *
woo VB I-VP *
advertisers NNS B-NP *
with IN B-PP *
quite RB O *
so RB O *
much JJ O *
fervor NN O *
before RB B-ADVP *
. . O *S)

It PRP B-NP (S*
largely RB B-ADVP *
rested VBD B-VP *
on IN B-PP *
its PRP$ B-NP *
hard-to-fault JJ I-NP *
demographics NNS I-NP *
: : O *
10.8 CD B-NP *
million CD I-NP *
subscribers NNS I-NP *
in IN B-PP *
the DT B-NP *
first JJ I-NP *
half NN I-NP *
COMMA , O *
up IN B-ADVP *
from IN B-PP *
10.5 CD B-NP *
million CD I-NP *
a DT B-NP *
year NN I-NP *
ago RB B-ADVP *
; : O *
an DT B-NP *
average JJ I-NP *
age NN I-NP *
of IN B-PP *
42 CD B-NP *
for IN B-PP *
readers NNS B-NP *
-- : O *
at IN B-PP *
the DT B-NP *
height NN I-NP *
of IN B-PP *
their PRP$ B-NP *
consuming NN I-NP *
years NNS I-NP *
; : O *
loyalty NN B-NP *
to TO B-PP *
the DT B-NP *
tune NN I-NP *
of IN B-PP *
an DT B-NP *
85 CD I-NP *
% NN I-NP *
average JJ I-NP *
subscription NN I-NP *
renewal NN I-NP *
rate NN I-NP *
. . O *S)

The DT B-NP (S*
magazine NN I-NP *
had VBD B-VP *
its PRP$ B-NP *
best JJS I-NP *
year NN I-NP *
yet RB B-ADVP *
in IN B-PP *
1988 CD B-NP *
COMMA , O *
when WRB B-ADVP (S*
it PRP B-NP (S*
celebrated VBD B-VP *
its PRP$ B-NP *
centennial NN I-NP *
and CC O *
racked VBN B-VP *
up IN B-PRT *
a DT B-NP *
17 CD I-NP *
% NN I-NP *
gain NN I-NP *
in IN B-PP *
ad NN B-NP *
pages NNS I-NP *
COMMA , O *
to TO B-PP *
283 CD B-NP *S)S)
. . O *S)

But CC O (S*
this DT B-NP *
year NN I-NP *
COMMA , O *
when WRB B-ADVP (S*
the DT B-NP (S*
hullabaloo NN I-NP *
surrounding VBG B-VP *
its PRP$ B-NP *
centennial NN I-NP *
died VBD B-VP *S)S)
COMMA , O *
so RB B-ADVP *
too RB I-ADVP *
did VBD B-VP *
some DT B-NP *
advertiser NN I-NP *
interest NN I-NP *
. . O *S)

The DT B-NP (S*
reason NN I-NP *
COMMA , O *
ad NN B-NP (S*
executives NNS I-NP *
say VBP B-VP *S)
COMMA , O *
is VBZ B-VP *
that IN B-SBAR (S*
the DT B-NP (S(S*
entire JJ I-NP *
magazine NN I-NP *
business NN I-NP *
has VBZ B-VP *
been VBN I-VP *
soft JJ B-ADJP *S)
-- : O *
and CC O *
National NNP B-NP (S*
Geographic NNP I-NP *
has VBZ B-VP *
some DT B-NP *
quirks NNS I-NP *
that WDT B-NP (S*
make VBP B-VP (S*
it PRP B-NP *
especially RB B-ADJP *
unattractive JJ I-ADJP *
during IN B-PP *
a DT B-NP *
soft JJ I-NP *
market NN I-NP *S)S)S)S)S)
. . O *S)

Perhaps RB O (S*
the DT B-NP *
biggest JJS I-NP *
of IN B-PP *
those DT B-NP *
factors NNS I-NP *
is VBZ B-VP *
its PRP$ B-NP *
high JJ I-NP *
ad NN I-NP *
prices NNS I-NP *
-- : O *
$ $ B-NP *
130COMMA000 CD I-NP *
for IN B-PP *
a DT B-NP *
four-color JJ I-NP *
page NN I-NP *
COMMA , O *
vs. IN B-PP *
$ $ B-NP *
47COMMA000 CD I-NP *
for IN B-PP *
the DT B-NP *
Smithsonian NNP I-NP *
COMMA , O *
a DT B-NP *
comparable JJ I-NP *
publication NN I-NP *
with IN B-PP *
a DT B-NP *
far RB I-NP *
smaller JJR I-NP *
circulation NN I-NP *
. . O *S)

When WRB B-ADVP (S(S*
ad NN B-NP (S*
dollars NNS I-NP *
are VBP B-VP *
tight JJ B-ADJP *S)S)
COMMA , O *
the DT B-NP *
high JJ I-NP *
page NN I-NP *
cost NN I-NP *
is VBZ B-VP *
a DT B-NP *
major JJ I-NP *
deterrent NN I-NP *
for IN B-PP *
advertisers NNS B-NP *
COMMA , O *
who WP B-NP (S*
generally RB B-ADVP (S*
want VBP B-VP *
to TO I-VP *
appear VB I-VP *
regularly RB B-ADVP *
in IN B-PP *
a DT B-NP *
publication NN I-NP *
or CC I-NP *
not RB I-NP *
at IN B-ADVP *
all DT I-ADVP *S)S)
. . O *S)

Even RB B-SBAR (S(S(S*
though IN I-SBAR *
National NNP B-NP (S*
Geographic NNP I-NP *
offers VBZ B-VP *
far RB O *
more JJR O *
readers NNS O *
than IN B-PP (S*
does VBZ B-VP (S*
a DT B-NP *
magazine NN I-NP *
like IN B-PP *
Smithsonian NNP B-NP *S)S)S)S)
COMMA , O *
`` `` O *
the DT B-NP *
page NN I-NP *
costs NNS I-NP *
you PRP B-NP *
an DT B-NP *
arm NN I-NP *
and CC O *
a DT B-NP *
leg NN I-NP *
to TO B-VP (S*
develop VB I-VP *
any DT B-NP *
frequency NN I-NP *S)S)
COMMA , O *
'' '' O *
says VBZ B-VP *
Harry NNP B-NP *
Glass NNP I-NP *
COMMA , O *
New NNP B-NP *
York NNP I-NP *
media NNS I-NP *
manager NN I-NP *
for IN B-PP *
Bozell NNP B-NP *
Inc NNP I-NP *
. . O *S)

To TO B-VP (S(S(S*
combat VB I-VP *
that DT B-NP *
problem NN I-NP *S)
COMMA , O *
National NNP B-NP *
Geographic NNP I-NP *
COMMA , O *
like IN B-PP *
other JJ B-NP *
magazines NNS I-NP *
COMMA , O *
began VBD B-VP *
offering VBG I-VP *
regional JJ B-NP *
editions NNS I-NP *
allowing VBG B-VP *
advertisers NNS B-NP (S*
to TO B-VP *
appear VB I-VP *
in IN B-PP *
only RB B-NP *
a DT I-NP *
portion NN I-NP *
of IN B-PP *
its PRP$ B-NP *
magazines NNS I-NP *S)S)
-- : O *
for IN B-PP (S*
example NN B-NP *
COMMA , O *
ads NNS B-NP *
can MD B-VP *
run VB I-VP *
only RB B-ADVP *
in IN B-PP *
the DT B-NP *
magazines NNS I-NP *
sent VBD B-VP *
to TO B-PP *
subscribers NNS B-NP *
in IN B-PP *
the DT B-NP *
largest JJS I-NP *
25 CD I-NP *
markets NNS I-NP *S)
. . O *S)

But CC O (S*
the DT B-NP *
magazine NN I-NP *
was VBD B-VP *
slower JJR B-ADJP *
than IN B-PP *
its PRP$ B-NP *
competitors NNS I-NP *
to TO B-VP (S*
come VB I-VP *
up IN B-PRT *
with IN B-PP *
its PRP$ B-NP *
regional JJ I-NP *
editions NNS I-NP *S)
COMMA , O *
and CC O *
until IN B-PP *
last JJ B-NP *
year NN I-NP *
offered VBN B-VP *
fewer JJR B-NP *
of IN B-PP *
them PRP B-NP *
than IN B-PP (S*
did VBD O (S*
competitors NNS O *S)S)
. . O *S)

Time NN B-NP (S*
magazine NN I-NP *
COMMA , O *
for IN B-PP *
example NN B-NP *
COMMA , O *
has VBZ B-VP *
more JJR B-NP *
than IN I-NP *
100 CD I-NP *
separate JJ I-NP *
editions NNS I-NP *
going VBG B-VP *
to TO B-PP *
different JJ B-NP *
regions NNS I-NP *
COMMA , O *
top JJ B-NP *
management NN I-NP *
COMMA , O *
and CC O *
other JJ B-NP *
groups NNS I-NP *
. . O *S)

Another DT B-NP (S*
sticking VBG I-NP *
point NN I-NP *
for IN B-PP *
advertisers NNS B-NP *
was VBD B-VP *
National NNP B-NP *
Geographic NNP I-NP *
's POS B-NP *
tradition NN I-NP *
of IN B-PP *
lumping VBG B-VP (S*
its PRP$ B-NP *
ads NNS I-NP *
together RB B-ADVP *
COMMA , O *
usually RB B-ADVP *
at IN B-PP *
the DT B-NP *
beginning VBG I-NP *
or CC I-NP *
end NN I-NP *
of IN B-PP *
the DT B-NP *
magazine NN I-NP *
COMMA , O *
rather RB B-CONJP *
than IN I-CONJP *
spreading VBG B-VP *
ads NNS B-NP *
out IN B-PP *
among IN B-PP *
its PRP$ B-NP *
articles NNS I-NP *
COMMA , O *
as IN B-SBAR (S*
most RBS B-NP (S*
magazines NNS I-NP *
do VBP B-VP *S)S)S)
. . O *S)

And CC O (S*
National NNP B-NP *
Geographic NNP I-NP *
's POS B-NP *
smaller-than-average JJ I-NP *
size NN I-NP *
means VBZ B-VP *
extra JJ B-NP *
production NN I-NP *
costs NNS I-NP *
for IN B-PP *
advertisers NNS B-NP *
. . O *S)

But CC O (S*
Ms. NNP B-NP *
McCraw NNP I-NP *
says VBZ B-VP *
the DT B-NP (S(S*
magazine NN I-NP *
is VBZ B-VP *
fighting VBG I-VP *
back RB B-ADVP *S)S)
. . O *S)

It PRP B-NP (S(S*
now RB B-ADVP *
offers VBZ B-VP *
30 CD B-NP *
regional JJ I-NP *
editions NNS I-NP *S)
COMMA , O *
it PRP B-NP (S*
very RB B-ADVP *
recently RB I-ADVP *
began VBD B-VP *
running VBG I-VP *
ads NNS B-NP *
adjacent JJ B-ADJP *
to TO B-PP *
articles NNS B-NP *S)
COMMA , O *
and CC O *
it PRP B-NP (S*
has VBZ B-VP *
been VBN I-VP *
beefing VBG I-VP *
up IN B-PRT *
its PRP$ B-NP *
sales NNS I-NP *
force NN I-NP *S)
. . O *S)

And CC O (S*
it PRP B-NP *
just RB B-ADVP *
launched VBD B-VP *
a DT B-NP *
promotional JJ I-NP *
campaign NN I-NP *
to TO B-VP (S(S*
tell VB I-VP *
chief JJ B-NP *
executives NNS I-NP *
COMMA , O *
marketing NN B-NP *
directors NNS I-NP *
COMMA , O *
and CC O *
media NNS B-NP *
executives NNS I-NP *
just RB B-NP *
that DT I-NP *S)S)
. . O *S)

The DT B-NP (S*
centerpiece NN I-NP *
of IN B-PP *
the DT B-NP *
promotion NN I-NP *
is VBZ B-VP *
its PRP$ B-NP *
new JJ I-NP *
ad NN I-NP *
campaign NN I-NP *
COMMA , O *
into IN B-PP (S*
which WDT B-NP *
the DT B-NP (S*
magazine NN I-NP *
will MD B-VP *
pour VB I-VP *
about RB B-NP *
$ $ I-NP *
500COMMA000 CD I-NP *
COMMA , O *
mostly RB O *
in IN B-PP *
the DT B-NP *
next JJ I-NP *
few JJ I-NP *
weeks NNS I-NP *S)S)
. . O *S)

The DT B-NP (S*
campaign NN I-NP *
COMMA , O *
created VBN B-VP *
by IN B-PP *
Omnicom NNP B-NP *
Group NNP I-NP *
's POS B-NP *
DDB NNP I-NP *
Needham NNP I-NP *
agency NN I-NP *
COMMA , O *
takes VBZ B-VP *
advantage NN B-NP *
of IN B-PP *
the DT B-NP *
eye-catching JJ I-NP *
photography NN I-NP *
that IN B-NP (S*
National NNP B-NP (S*
Geographic NNP I-NP *
is VBZ B-VP *
known VBN I-VP *
for RB B-PP *S)S)
. . O *S)

In IN B-PP (S*
one CD B-NP *
ad NN I-NP *
COMMA , O *
a DT B-NP *
photo NN I-NP *
of IN B-PP *
the DT B-NP *
interior NN I-NP *
of IN B-PP *
the DT B-NP *
Sainte-Chapelle NNP I-NP *
in IN B-PP *
Paris NNP B-NP *
is VBZ B-VP *
paired VBN I-VP *
with IN B-PP *
the DT B-NP *
headline NN I-NP *
COMMA , O *
`` `` O (S*
The DT B-NP *
only JJ I-NP *
book NN I-NP *
more RBR B-ADJP *
respected VBN I-ADJP *
than IN B-SBAR *
ours PRP B-NP *
does VBZ B-VP *
n't RB I-VP *
accept VB I-VP *
advertising NN B-NP *S)
. . O *
'' '' O *S)

Another DT B-NP (S*
ad NN I-NP *
pictures VBZ B-VP *
a DT B-NP *
tree NN I-NP *
ant NN I-NP *
COMMA , O *
magnified VBN B-VP *
80 CD B-NP *
times NNS I-NP *
COMMA , O *
with IN B-PP *
the DT B-NP *
headline NN I-NP *
COMMA , O *
`` `` O (S*
For IN B-PP *
impact NN B-NP *
far RB B-ADVP *
beyond IN B-PP *
your PRP$ B-NP *
size NN I-NP *
consider VB B-VP *
our PRP$ B-NP *
regional JJ I-NP *
editions NNS I-NP *S)
. . O *
'' '' O *S)

Ms. NNP B-NP (S*
McCraw NNP I-NP *
says VBZ B-VP *
she PRP B-NP (S(S*
wants VBZ B-VP *
the DT B-NP (S*
campaign NN I-NP *
to TO B-VP *
help VB I-VP *
attract VB I-VP *
advertisers NNS B-NP *
in IN B-PP *
10 CD B-NP *
categories NNS I-NP *
COMMA , O *
including VBG B-PP *
corporate JJ B-NP *
COMMA , I-NP *
financial JJ I-NP *
services NNS I-NP *
COMMA , O *
consumer NN B-NP *
electronics NNS I-NP *
COMMA , I-NP *
insurance NN I-NP *
and CC I-NP *
food NN I-NP *S)S)S)
. . O *S)

Her PRP$ B-NP *
goal NN I-NP *
: : O *
to TO B-VP (S*
top VB I-VP *
300 CD B-NP *
ad NN I-NP *
pages NNS I-NP *
in IN B-PP *
1990 CD B-NP *
COMMA , O *
up IN B-ADVP *
from IN B-PP *
about IN B-NP *
274 CD I-NP *
this DT B-NP *
year NN I-NP *S)
. . O *

Whether IN B-SBAR (S(S*
she PRP B-NP (S*
can MD B-VP *
meet VB I-VP *
that IN O *
ambitious JJ O *
goal NN O *S)S)
is VBZ B-VP *
still RB B-ADVP *
far RB I-ADVP *
from IN B-PP *
certain JJ B-ADJP *
. . O *S)

`` `` O (S*
The DT B-NP (S*
ad NN I-NP *
campaign NN I-NP *
is VBZ B-VP *
meant VBN I-VP *
to TO I-VP *
contemporize VB I-VP *
the DT B-NP *
thought NN I-NP *
of IN B-PP *
National NNP B-NP *
Geographic NNP I-NP *S)
COMMA , O *
'' '' O *
she PRP B-NP *
says VBZ B-VP *
. . O *S)

`` `` O (S*
We PRP B-NP *
want VBP B-VP *
it PRP B-NP (S*
to TO B-VP *
be VB I-VP *
a DT B-NP *
'90s NNS I-NP *
kind NN I-NP *
of IN B-PP *
image NN B-NP *S)
. . O *
'' '' O *S)

WCRS NNP B-NP (S*
Plans NNS I-NP *
Ad-Unit NN I-NP *
Sale NNP B-NP *S)

WCRS NNP B-NP (S(S*
Group NNP I-NP *
hopes VBZ B-VP *
to TO I-VP *
announce VB I-VP *
COMMA , O *
perhaps RB B-ADVP *
today NN B-NP *
COMMA , O *
an DT B-NP *
agreement NN I-NP *
to TO B-VP (S*
sell VB I-VP *
the DT B-NP *
majority NN I-NP *
of IN B-PP *
its PRP$ B-NP *
ad NN I-NP *
unit NN I-NP *
to TO B-PP *
Paris-based JJ B-NP *
Eurocom NNP I-NP *S)S)
COMMA , O *
a DT B-NP *
European JJ I-NP *
ad NN I-NP *
executive NN I-NP *
said VBD B-VP *
. . O *S)

WCRS NNP B-NP (S*
has VBZ B-VP *
been VBN I-VP *
in IN B-PP *
discussions NNS B-NP *
with IN B-PP *
Eurocom NNP B-NP *
for IN B-PP *
several JJ B-NP *
months NNS I-NP *
. . O *S)

However RB B-ADVP (S*
COMMA , O *
when WRB B-ADVP (S*
negotiations NNS B-NP (S*
bogged VBD B-VP *
down RB B-ADVP *
recently RB I-ADVP *S)S)
COMMA , O *
WCRS NNP B-NP *
's POS B-NP *
chief JJ I-NP *
executive NN I-NP *
COMMA , O *
Peter NNP B-NP *
Scott NNP I-NP *
COMMA , O *
met VBD B-VP *
in IN B-PP *
Paris NNP B-NP *
with IN B-PP *
another DT B-NP *
French JJ I-NP *
firm NN I-NP *
COMMA , O *
Boulet NNP B-NP *
Dru NNP I-NP *
Dupuy NNP I-NP *
Petit NNP I-NP *
COMMA , O *
or CC O *
BDDP NNP B-NP *
. . O *S)

According VBG B-PP (S*
to TO B-PP *
the DT B-NP *
executive NN I-NP *
COMMA , O *
BDDP NNP B-NP (S*
's POS B-NP *
involvement NN I-NP *
prompted VBD B-VP *
renewed VBN B-NP *
vigor NN I-NP *
in IN B-PP *
the DT B-NP *
WCRS-Eurocom NNP I-NP *
talks NNS I-NP *S)
and CC O *
the DT B-NP (S*
two CD I-NP *
agencies NNS I-NP *
were VBD B-VP *
hoping VBG I-VP *
to TO I-VP *
hammer VB I-VP *
out RP B-PRT *
details NNS B-NP *
by IN B-PP *
today NN B-NP *S)
. . O *S)

Executives NNS B-NP (S*
of IN B-PP *
the DT B-NP *
two CD I-NP *
agencies NNS I-NP *
could MD B-VP *
n't RB I-VP *
be VB I-VP *
reached VBN I-VP *
last JJ B-NP *
night NN I-NP *
. . O *S)

Ad NN B-NP *
Notes NNS I-NP *
... : O *
. . O *

NEW JJ B-NP *
ACCOUNT NN I-NP *
: : O *
Procter NNP B-NP (S*
& CC I-NP *
Gamble NNP I-NP *
Co. NNP I-NP *
COMMA , O *
Cincinnati NNP B-NP *
COMMA , O *
awarded VBD B-VP *
the DT O *
ad NN O *
accounts NNS O *
for IN B-PP *
its PRP$ B-NP *
line NN I-NP *
of IN B-PP *
Professional NNP B-NP *
Crisco NNP I-NP *
vegetable NN I-NP *
shortening VBG I-NP *
and CC I-NP *
oil NN I-NP *
products NNS I-NP *
to TO B-PP *
Northlich NNP B-NP *
COMMA , O *
Stolley NNP B-NP *
COMMA , O *
LaWarre NNP B-NP *
COMMA , O *
Cincinnati NNP B-NP *S)
. . O *

Billings NNS B-NP (S*
were VBD B-VP *
n't RB I-VP *
disclosed VBN I-VP *
. . O *S)

Professional NNP B-NP (S*
Crisco NNP I-NP *
products NNS I-NP *
are VBP B-VP *
specially RB I-VP *
made VBN I-VP *
for IN B-PP *
the DT B-NP *
foodservice NN I-NP *
industry NN I-NP *
. . O *S)

WHO WP B-NP (S(S*
'S VBZ B-VP (S*
NEWS NN B-NP *S)S)
: : O *
Stephen NNP B-NP (S*
Novick NNP I-NP *
COMMA , O *
49 CD B-NP *
COMMA , O *
was VBD B-VP *
named VBN I-VP *
executive JJ B-NP *
vice NN I-NP *
president NN I-NP *
COMMA , O *
deputy NN B-NP *
creative JJ I-NP *
director NN I-NP *
at IN B-PP *
Grey NNP B-NP *
Advertising NNP I-NP *
COMMA , O *
New NNP B-NP *
York NNP I-NP *S)
. . O *S)

He PRP B-NP (S*
was VBD B-VP *
executive JJ B-NP *
vice NN I-NP *
president NN I-NP *
COMMA , O *
director NN B-NP *
of IN B-PP *
broadcast NN B-NP *
production NN I-NP *
. . O *S)

The DT B-NP (S*
Commodity NNP I-NP *
Futures NNS I-NP *
Trading NNP I-NP *
Commission NNP I-NP *
plans VBZ B-VP *
to TO I-VP *
restrict VB I-VP *
dual JJ B-NP *
trading NN I-NP *
on IN B-PP *
commodity NN B-NP *
exchanges NNS I-NP *
COMMA , O *
a DT B-NP *
move NN I-NP *
almost RB B-ADJP *
certain JJ I-ADJP *
to TO B-VP (S*
infuriate VB I-VP *
exchange NN B-NP *
officials NNS I-NP *
and CC I-NP *
traders NNS I-NP *S)
. . O *S)

The DT B-NP (S*
CFTC NNP I-NP *
said VBD B-VP *
it PRP B-NP (S(S*
will MD B-VP *
propose VB I-VP *
the DT B-NP *
restrictions NNS I-NP *
after IN B-PP *
the DT B-NP *
release NN I-NP *
of IN B-PP *
a DT B-NP *
study NN I-NP *
that WDT B-NP (S*
shows VBZ B-VP (S*
little JJ B-NP *
economic JJ I-NP *
benefit NN I-NP *
resulting VBG B-VP *
from IN B-PP *
dual JJ B-NP *
trading NN I-NP *
and CC O *
cites VBZ B-VP *
`` `` O *
problems NNS B-NP *
'' '' O *
associated VBN B-VP *
with IN B-PP *
the DT B-NP *
practice NN I-NP *S)S)S)S)
. . O *S)

Dual JJ B-NP (S*
trading NN I-NP *
gives VBZ B-VP *
an DT O *
exchange NN O *
trader NN O *
the DT B-NP *
right NN I-NP *
to TO B-VP (S(S*
trade VB I-VP *
both DT B-NP *
for IN B-PP *
his PRP$ B-NP *
own JJ I-NP *
account NN I-NP *
and CC B-PP *
for IN B-PP *
customers NNS B-NP *S)S)
. . O *S)

The DT B-NP (S*
issue NN I-NP *
exploded VBD B-VP *
this DT B-NP *
year NN I-NP *
after IN B-PP (S*
a DT B-NP (S*
Federal NNP I-NP *
Bureau NNP I-NP *
of IN B-PP *
Investigation NNP B-NP *
operation NN I-NP *
led VBN B-VP *
to TO B-PP *
charges NNS B-NP *
of IN B-PP *
widespread JJ B-NP *
trading NN I-NP *
abuses NNS I-NP *
at IN B-PP *
the DT B-NP *
Chicago NNP I-NP *
Board NNP I-NP *
of IN B-PP *
Trade NNP B-NP *
and CC O *
Chicago NNP B-NP *
Mercantile NNP I-NP *
Exchange NNP I-NP *S)S)
. . O *S)

While IN B-SBAR (S(S*
not RB O (S*
specifically RB O *
mentioned VBN O *
in IN B-PP *
the DT B-NP *
FBI NNP I-NP *
charges NNS I-NP *S)S)
COMMA , O *
dual JJ B-NP *
trading NN I-NP *
became VBD B-VP *
a DT B-NP *
focus NN I-NP *
of IN B-PP *
attempts NNS B-NP *
to TO B-VP (S*
tighten VB I-VP *
industry NN B-NP *
regulations NNS I-NP *S)
. . O *S)

Critics NNS B-NP (S*
contend VBP B-VP *
that IN B-SBAR (S*
traders NNS B-NP (S*
were VBD B-VP *
putting VBG I-VP *
buying VBG O *
or CC O *
selling VBG O *
for IN B-PP *
their PRP$ B-NP *
own JJ I-NP *
accounts NNS I-NP *
ahead RB B-ADVP *
of IN B-PP *
other JJ B-NP *
traders NNS I-NP *
' POS B-NP *
customer NN I-NP *
orders NNS I-NP *S)S)
. . O *S)

Traders NNS B-NP (S*
are VBP B-VP *
likely JJ B-ADJP *
to TO B-VP (S*
oppose VB I-VP *
such JJ B-NP *
restrictions NNS I-NP *
because IN O (S*
dual JJ B-NP (S*
trading NN I-NP *
provides VBZ B-VP *
a DT B-NP *
way NN I-NP *
to TO B-VP (S(S*
make VB I-VP *
money NN B-NP *
in IN B-PP *
slower JJR B-NP *
markets NNS I-NP *
where WRB B-ADVP (S*
there EX B-NP (S*
is VBZ B-VP *
a DT B-NP *
shortage NN I-NP *
of IN B-PP *
customer NN B-NP *
orders NNS I-NP *S)S)S)S)S)S)S)
. . O *S)

The DT B-NP (S*
exchanges NNS I-NP *
contend VBP B-VP *
that IN B-SBAR (S*
dual JJ B-NP (S*
trading NN I-NP *
improves VBZ B-VP *
liquidity NN B-NP *
in IN B-PP *
the DT B-NP *
markets NNS I-NP *
because IN B-PP (S*
traders NNS B-NP (S*
can MD B-VP *
buy VB I-VP *
or CC I-VP *
sell VB I-VP *
even RB B-ADVP (S*
when WRB B-ADVP *
they PRP B-NP (S*
do VBP B-VP *
n't RB I-VP *
have VB I-VP *
a DT B-NP *
customer NN I-NP *
order NN I-NP *
in IN B-PP *
hand NN B-NP *S)S)S)S)S)S)
. . O *S)

The DT B-NP (S*
exchanges NNS I-NP *
say VBP B-VP *
liquidity NN B-NP (S(S*
becomes VBZ B-VP *
a DT B-NP *
severe JJ I-NP *
problem NN I-NP *
for IN B-PP *
thinly RB B-NP *
traded VBN I-NP *
contracts NNS I-NP *
such JJ B-PP *
as IN I-PP *
those DT B-NP *
with IN B-PP *
a DT B-NP *
long JJ I-NP *
time NN I-NP *
remaining VBG B-VP *
before IN B-PP *
expiration NN B-NP *S)S)
. . O *S)

The DT B-NP (S*
CFTC NNP I-NP *
may MD B-VP *
take VB I-VP *
those DT B-NP *
arguments NNS I-NP *
into IN B-PP *
account NN B-NP *
by IN B-PP *
allowing VBG B-VP (S*
exceptions NNS B-NP *
to TO B-PP *
its PRP$ B-NP *
restrictions NNS I-NP *S)
. . O *S)

The DT B-NP (S(S*
agency NN I-NP *
did VBD B-VP *
n't RB I-VP *
cite VB I-VP *
specific JJ B-NP *
situations NNS I-NP *
where WRB B-ADVP (S*
dual JJ B-NP (S*
trading NN I-NP *
might MD B-VP *
be VB I-VP *
allowed VBN I-VP *S)S)S)
COMMA , O *
but CC O *
smaller JJR B-NP (S*
exchanges NNS I-NP *
or CC O *
contracts VBZ B-VP *
that DT O (S*
need NN B-NP (S*
additional JJ I-NP *
liquidity NN I-NP *S)S)
are VBP B-VP *
expected VBN I-VP *
to TO I-VP *
be VB I-VP *
among IN B-PP *
them PRP B-NP *S)
. . O *S)

Wendy NNP B-NP (S*
Gramm NNP I-NP *
COMMA , O *
the DT B-NP *
agency NN I-NP *
's POS B-NP *
chairman NN I-NP *
COMMA , O *
told VBD B-VP *
the DT B-NP *
Senate NNP I-NP *
Agriculture NNP I-NP *
Committee NNP I-NP *
that IN B-SBAR (S*
she PRP B-NP (S*
expects VBZ B-VP *
the DT B-NP (S(S*
study NN I-NP *
to TO B-VP *
be VB I-VP *
released VBN I-VP *
within IN B-PP *
two CD B-NP *
weeks NNS I-NP *S)
and CC O *
the DT B-NP (S*
rule NN I-NP *
changes NNS I-NP *
to TO B-VP *
be VB I-VP *
completed VBN I-VP *
by IN B-PP *
Thanksgiving NNP B-NP *S)S)S)S)
. . O *S)

The DT B-NP (S(S*
study NN I-NP *
COMMA , O *
by IN B-PP *
the DT B-NP *
CFTC NNP I-NP *
's POS B-NP *
division NN I-NP *
of IN B-PP *
economic JJ B-NP *
analysis NN I-NP *
COMMA , O *
shows VBZ B-VP *
that IN B-SBAR (S*
`` `` O (S*
a DT B-NP *
trade NN I-NP *
is VBZ B-VP *
a DT B-NP *
trade NN I-NP *S)S)S)
COMMA , O *
'' '' O *
a DT B-NP *
member NN I-NP *
of IN B-PP *
the DT B-NP *
study NN I-NP *
team NN I-NP *
said VBD B-VP *
. . O *S)

Whether IN B-PP (S(S*
a DT B-NP (S*
trade NN I-NP *
is VBZ B-VP *
done VBN I-VP *
on IN B-PP *
a DT B-NP *
dual JJ I-NP *
or CC I-NP *
non-dual JJ I-NP *
basis NN I-NP *S)S)
COMMA , O *
the DT B-NP (S*
member NN I-NP *
said VBD B-VP *S)
COMMA , O *
`` `` O *
does VBZ B-VP *
n't RB I-VP *
seem VB I-VP *
to TO I-VP *
have VB I-VP *
much JJ B-NP *
economic JJ I-NP *
impact NN I-NP *
. . O *
'' '' O *S)

Currently RB B-ADVP (S*
COMMA , O *
most RBS B-NP *
traders NNS I-NP *
on IN B-PP *
commodity NN B-NP *
exchanges NNS I-NP *
specialize VBP B-VP *
in IN B-PP *
trading VBG B-VP *
either DT B-NP *
for JJ I-NP *
customer NN I-NP *
accounts NNS I-NP *
COMMA , O *
which WDT B-NP (S*
makes VBZ B-VP (S*
them PRP B-NP *
brokers NNS I-NP *S)S)
COMMA , O *
or CC O *
for IN B-PP *
their PRP$ B-NP *
own JJ I-NP *
accounts NNS I-NP *
as IN B-PP *
socalled JJ B-NP *
locals NNS I-NP *
. . O *S)

`` `` O (S*
The DT B-NP (S*
tests NNS I-NP *
indicate VBP B-VP *
that IN B-SBAR (S*
dual JJ B-NP (S*
and CC I-NP *
non-dual JJ I-NP *
traders NNS I-NP *
are VBP B-VP *
similar JJ B-ADJP *
in IN B-PP *
terms NNS B-NP *
of IN B-PP *
the DT O *
trade NN O *
executions NNS O *
and CC O *
liquidity NN O *
they PRP B-NP (S(S*
provide VBP B-VP *
to TO B-PP *
the DT B-NP *
market NN I-NP *S)S)S)S)S)
COMMA , O *
'' '' O *
Mrs. NNP B-NP *
Gramm NNP I-NP *
told VBD B-VP *
the DT B-NP *
Senate NNP I-NP *
panel NN I-NP *
. . O *S)

Members NNS B-NP (S*
of IN B-PP *
Congress NNP B-NP *
have VBP B-VP *
proposed VBN I-VP *
restricting VBG I-VP *
dual JJ B-NP *
trading NN I-NP *
in IN B-PP *
bills NNS B-NP *
to TO B-VP (S(S*
reauthorize VB I-VP *
CFTC NNP B-NP *
operations NNS I-NP *S)S)
. . O *S)

The DT B-NP (S*
House NNP I-NP *
's POS B-NP *
bill NN I-NP *
would MD B-VP *
prohibit VB I-VP *
dual JJ B-NP *
trading NN I-NP *
in IN B-PP *
markets NNS B-NP *
with IN B-PP *
daily JJ B-NP *
average JJ I-NP *
volume NN I-NP *
of IN B-PP *
7COMMA000 CD B-NP *
contracts NNS I-NP *
or CC I-NP *
more JJR I-NP *
COMMA , O *
comprising VBG B-VP *
those DT B-NP *
considered VBN B-VP *
too RB B-ADJP *
difficult JJ I-ADJP *
to TO B-VP (S(S*
track VB I-VP *
without IN B-PP *
a DT B-NP *
sophisticated JJ I-NP *
computer NN I-NP *
system NN I-NP *S)S)
. . O *S)

The DT B-NP (S*
Senate NNP I-NP *
bill NN I-NP *
would MD B-VP *
force VB I-VP *
the DT B-NP (S*
CFTC NNP I-NP *
to TO B-VP *
suspend VB I-VP *
dual JJ B-NP *
trading NN I-NP *
if IN B-SBAR (S*
an DT B-NP (S*
exchange NN I-NP *
ca MD B-VP *
n't RB I-VP *
show VB I-VP *
that IN B-SBAR (S*
its PRP$ B-NP (S*
oversight NN I-NP *
system NN I-NP *
can MD B-VP *
detect VB I-VP *
dual-trading NN B-NP *
abuses NNS I-NP *S)S)S)S)S)
. . O *S)

So RB B-ADVP (S*
far RB I-ADVP *
COMMA , O *
one CD B-NP *
test NN I-NP *
of IN B-PP *
restricting VBG B-VP (S*
dual JJ B-NP *
trading NN I-NP *S)
has VBZ B-VP *
worked VBN I-VP *
well RB B-ADVP *
. . O *S)

The DT B-NP (S*
Chicago NNP I-NP *
Merc NNP I-NP *
banned VBD B-VP *
dual JJ B-NP *
trading NN I-NP *
in IN B-PP *
its PRP$ B-NP *
Standard NNP I-NP *
& CC I-NP *
Poor NNP I-NP *
's POS B-NP *
500-stock JJ I-NP *
index NN I-NP *
futures NNS I-NP *
pit VBP B-VP *
in IN B-PP *
1987 CD B-NP *
. . O *S)

Under IN B-PP (S*
the DT B-NP *
rules NNS I-NP *
COMMA , O *
traders NNS B-NP *
decide VBP B-VP *
before IN B-PP (S*
a DT B-NP (S*
session NN I-NP *
begins VBZ B-VP *S)S)
whether IN B-SBAR (S*
they PRP B-NP (S*
will MD B-VP *
trade VB I-VP *
for IN B-PP *
their PRP$ B-NP *
own JJ I-NP *
account NN I-NP *
or CC B-PP *
for IN B-PP *
customers NNS B-NP *S)S)
. . O *S)

Traders NNS B-NP (S*
who WP B-NP (S*
stand VBP B-VP (S*
on IN B-PP *
the DT B-NP *
pit NN I-NP *
's POS B-NP *
top JJ I-NP *
step NN I-NP *
COMMA , O *
where WRB B-ADVP (S*
most RBS B-NP (S*
customer NN I-NP *
orders NNS I-NP *
are VBP B-VP *
executed VBN I-VP *S)S)
COMMA , O *S)S)
ca MD B-VP *
n't RB I-VP *
trade VB I-VP *
for IN B-PP *
themselves PRP B-NP *
. . O *S)

A DT B-NP (S*
Merc NNP I-NP *
spokesman NN I-NP *
said VBD B-VP *
the DT B-NP (S(S*
plan NN I-NP *
has VBZ B-VP *
n't RB I-VP *
made VBN I-VP *
much JJ O *
difference NN O *
in IN B-PP *
liquidity NN B-NP *
in IN B-PP *
the DT B-NP *
pit NN I-NP *S)S)
. . O *S)

`` `` O (S*
It PRP B-NP (S(S*
's VBZ B-VP *
too RB O *
soon RB O *
to TO B-VP (S*
tell VB I-VP *S)S)
... : O *
but CC O *
people NNS B-NP (S*
do VBP B-VP *
n't RB I-VP *
seem VB I-VP *
to TO I-VP *
be VB I-VP *
unhappy JJ B-ADJP *
with IN B-PP *
it PRP B-NP *S)S)
COMMA , O *
'' '' O *
he PRP B-NP *
said VBD B-VP *
. . O *S)

He PRP B-NP (S*
said VBD B-VP *
he PRP B-NP (S(S*
would MD B-VP *
n't RB I-VP *
comment VB I-VP *
on IN B-PP *
the DT B-NP *
CFTC NNP I-NP *
plan NN I-NP *
until IN B-SBAR (S*
the DT B-NP (S*
exchange NN I-NP *
has VBZ B-VP *
seen VBN I-VP *
the DT B-NP *
full JJ I-NP *
proposal NN I-NP *S)S)S)S)
. . O *S)

But CC O (S*
at IN B-PP *
a DT B-NP *
meeting NN I-NP *
last JJ B-NP *
week NN I-NP *
COMMA , O *
Tom NNP B-NP *
Donovan NNP I-NP *
COMMA , O *
the DT B-NP *
Board NNP I-NP *
of IN B-PP *
Trade NNP B-NP *
's POS B-NP *
president NN I-NP *
COMMA , O *
told VBD B-VP *
commodity NN B-NP *
lawyers NNS I-NP *
: : O *
`` `` O (S*
Dual JJ B-NP *
trading NN I-NP *
is VBZ B-VP *
definitely RB O *
worth JJ B-NP *
saving NN I-NP (S*S)S)
. . O *S)

It PRP B-NP (S*
adds VBZ B-VP *
something NN B-NP *
to TO B-PP *
the DT B-NP *
market NN I-NP *
. . O *S)

Japanese JJ B-NP (S*
Firms NNS I-NP *
Push VBP B-VP *
Posh JJ B-NP *
Car NNP I-NP *
Showrooms NNS I-NP *S)

JAPANESE JJ B-NP (S*
luxury-car NN I-NP *
makers NNS I-NP *
are VBP B-VP *
trying VBG I-VP *
to TO I-VP *
set VB I-VP *
strict JJ B-NP *
design NN I-NP *
standards NNS I-NP *
for IN B-PP *
their PRP$ B-NP *
dealerships NNS I-NP *
. . O *S)

But CC O (S*
some DT B-NP *
dealers NNS I-NP *
are VBP B-VP *
negotiating VBG I-VP *
looser JJR B-NP *
terms NNS I-NP *
COMMA , O *
while IN O (S*
others NNS B-NP (S*
decline VBP B-VP *
to TO I-VP *
deal VB I-VP *
at IN B-ADVP *
all DT I-ADVP *S)S)
. . O *S)

Nissan NNP B-NP (S*
Motor NNP I-NP *
Co. NNP I-NP *
's POS B-NP *
Infiniti NNP I-NP *
division NN I-NP *
likes VBZ B-VP *
to TO I-VP *
insist VB I-VP *
that IN B-SBAR (S*
every DT B-NP (S*
dealer NN I-NP *
construct VB B-VP *
and CC O *
furnish VB O *
a DT B-NP *
building NN I-NP *
in IN B-PP *
a DT B-NP *
Japanese JJ I-NP *
style NN I-NP *S)S)
. . O *S)

Specifications NNS B-NP (S*
include VBP B-VP *
a DT B-NP *
polished VBN I-NP *
bronze NN I-NP *
sculpture NN I-NP *
at IN B-PP *
the DT B-NP *
center NN I-NP *
of IN B-PP *
each DT B-NP *
showroom NN I-NP *
and CC O *
a DT B-NP *
tile NN I-NP *
bridge NN I-NP *
spanning VBG B-VP *
a DT B-NP *
stream NN I-NP *
that IN B-NP (S*
flows NNS B-NP (S*
into IN B-PP *
the DT B-NP *
building NN I-NP *
from IN B-PP *
outside RB B-NP *S)S)
. . O *S)

`` `` O (S*
Infiniti NNP B-NP (S*
has VBZ B-VP *
it PRP B-NP *
down RB B-ADVP *
to TO B-PP *
the DT B-NP *
ashtrays NNS I-NP *S)
COMMA , O *
'' '' O *
says VBZ B-VP *
Jay NNP B-NP *
Ferron NNP I-NP *
COMMA , O *
a DT B-NP *
partner NN I-NP *
at IN B-PP *
J.D. NNP B-NP *
Power NNP I-NP *
& CC I-NP *
Associates NNPS I-NP *
COMMA , O *
an DT B-NP *
auto NN I-NP *
research NN I-NP *
firm NN I-NP *
. . O *S)

Toyota NNP B-NP (S*
Motor NNP I-NP *
Corp. NNP I-NP *
's POS B-NP *
Lexus NNP I-NP *
division NN I-NP *
also RB B-ADVP *
provides VBZ B-VP *
specifications NNS B-NP *
. . O *S)

But CC O (S*
only JJ B-NP *
two-thirds NNS I-NP *
of IN B-PP *
Lexus NNP B-NP *
dealers NNS I-NP *
are VBP B-VP *
constructing VBG I-VP *
new JJ B-NP *
buildings NNS I-NP *
according VBG B-PP *
to TO B-PP *
the DT B-NP *
Lexus NNP I-NP *
specs NNS I-NP *
. . O *S)

Some DT B-NP (S*
are VBP B-VP *
even RB I-VP *
coming VBG I-VP *
up IN B-PRT *
with IN B-PP *
their PRP$ B-NP *
own JJ I-NP *
novel NN I-NP *
designs NNS I-NP *
. . O *S)

In IN B-PP (S*
Louisville NNP B-NP *
COMMA , O *
Ky. NNP B-NP *
COMMA , O *
for IN B-PP *
example NN B-NP *
COMMA , O *
David NNP B-NP *
Peterson NNP I-NP *
has VBZ B-VP *
built VBN I-VP *
a DT B-NP *
Lexus NNP I-NP *
dealership NN I-NP *
with IN B-PP *
the DT B-NP *
showroom NN I-NP *
on IN B-PP *
the DT B-NP *
second JJ I-NP *
floor NN I-NP *
. . O *S)

Yet RB O (S*
some DT B-NP *
dealers NNS I-NP *
have VBP B-VP *
turned VBN I-VP *
down RB B-PRT *
Infiniti NNP B-NP *
or CC O *
Lexus NNP B-NP *
franchises NNS I-NP *
because IN B-SBAR (S*
they PRP B-NP (S*
were VBD B-VP *
unwilling JJ O *
or CC O *
unable JJ B-ADJP *
to TO B-VP (S*
meet VB I-VP *
the DT B-NP *
design NN I-NP *
requirements NNS I-NP *S)S)S)
. . O *S)

Lee NNP B-NP (S*
Seidman NNP I-NP *
of IN B-PP *
Cleveland NNP B-NP *
says VBZ B-VP *
Infiniti NNP B-NP (S(S*
`` `` O *
was VBD B-VP *
a DT B-NP *
bear NN I-NP *
on IN B-PP *
interiors NNS B-NP *
'' '' O *
but CC O *
at IN B-ADVP *
least JJS I-ADVP *
let NN O *
him PRP B-NP (S*
retrofit VB B-VP *
an DT B-NP *
existing VBG I-NP *
building NN I-NP *
-- : O *
without IN B-PP *
the DT B-NP *
stream NN I-NP *S)S)S)
. . O *S)

Mr. NNP B-NP (S*
Seidman NNP I-NP *
says VBZ B-VP *
he PRP B-NP (S(S*
turned VBD B-VP *
down RP B-PP *
a DT B-NP *
Lexus NNP I-NP *
franchise NN I-NP *
in IN B-PP (S*
part NN B-NP *
because IN O *
`` `` O (S*
the DT B-NP *
building NN I-NP *
was VBD B-VP *
gorgeous JJ B-ADJP *
but CC O *
very RB B-ADJP *
expensive JJ I-ADJP *S)S)S)S)
. . O *
'' '' O *S)

To TO B-VP (S(S*
head VB I-VP *
off IN B-PRT *
arguments NNS B-NP *S)
COMMA , O *
Infiniti NNP B-NP *
offers VBZ B-VP *
dealers NNS B-NP *
cash NN I-NP *
bonuses NNS I-NP *
and CC O *
low-interest JJ B-NP *
construction NN I-NP *
loans NNS I-NP *
. . O *S)

Dictation NN B-NP (S*
Device NN I-NP *
's POS B-NP *
Saga NNP I-NP *
Plays NNP I-NP *
Back NNP I-NP *
a DT B-NP *
Lesson NN I-NP *S)

PRODUCTS NNP B-NP (S*
DON'T NNP I-NP *
have VBP B-VP *
to TO I-VP *
be VB I-VP *
first JJ B-ADJP *
to TO B-VP (S*
be VB I-VP *
winners NNS B-NP *S)
. . O *S)

That DT B-NP (S*
's VBZ B-VP *
the DT B-NP *
lesson NN I-NP *
offered VBN B-VP *
through IN B-PP *
one CD B-NP *
case NN I-NP *
study NN I-NP *
featured VBN B-VP *
in IN B-PP *
a DT B-NP *
design NN I-NP *
exhibit NN I-NP *
. . O *S)

Dictaphone NNP B-NP (S*
Corp. NNP I-NP *
was VBD B-VP *
caught VBN I-VP *
off IN O *
guard NN B-NP *
in IN B-PP *
1974 CD B-NP *
when WRB B-ADVP (S*
its PRP$ B-NP (S*
main JJ I-NP *
competitor NN I-NP *
COMMA , O *
Lanier NNP B-NP *
Office NNP I-NP *
Products NNPS I-NP *
of IN B-PP *
Japan NNP B-NP *
COMMA , O *
introduced VBD B-VP *
a DT B-NP *
microcassette NN I-NP *
dictation NN I-NP *
recorder NN I-NP *
half PDT O *
the DT O *
size NN O *
of IN B-PP *
standard JJ B-NP *
cassette NN I-NP *
devices NNS I-NP *S)S)
. . O *S)

Blocked VBN B-VP (S(S*
by IN B-PP *
patent NN B-NP *
protection NN I-NP *
from IN B-PP *
following VBG B-NP (S*
suit NN I-NP *S)S)
COMMA , O *
Dictaphone NNP B-NP *
decided VBD B-VP *
to TO I-VP *
go VB I-VP *
a DT O *
step NN O *
further JJ O *
and CC O *
cut VB B-VP *
the DT B-NP *
cassette NN I-NP *
in IN B-PP *
half NN B-NP *
again RB B-ADVP *
-- : O *
down RB B-ADVP *
to TO B-PP *
the DT B-NP *
length NN I-NP *
of IN B-PP *
a DT B-NP *
paperclip NN I-NP *
. . O *S)

By IN B-PP (S*
1979 CD B-NP *
COMMA , O *
designers NNS O *
and CC O *
engineers NNS O *
at IN B-PP *
Dictaphone NNP B-NP *
COMMA , O *
a DT B-NP *
Pitney NNP I-NP *
Bowes NNP I-NP *
subsidiary NN I-NP *
COMMA , O *
had VBD B-VP *
produced VBN I-VP *
a DT B-NP *
working VBG I-NP *
model NN I-NP *
of IN B-PP *
a DT B-NP *
`` `` I-NP *
picocassette NN I-NP *
'' '' I-NP *
recorder NN I-NP *
. . O *S)

By IN B-PP (S*
1982 CD B-NP *
COMMA , O *
however RB B-ADVP *
COMMA , O *
the DT B-NP *
patent NN I-NP *
status NN I-NP *
of IN B-PP *
the DT B-NP *
Lanier NNP I-NP *
microcassette NN I-NP *
had VBD B-VP *
changed VBN I-VP *
COMMA , O *
permitting VBG B-VP (S*
Dictaphone NNP B-NP (S*
to TO B-VP *
develop VB I-VP *
its PRP$ B-NP *
own JJ I-NP *
competitive JJ I-NP *
micro JJ I-NP *
system NN I-NP *
COMMA , O *
which WDT B-NP (S*
it PRP B-NP (S*
did VBD B-VP *S)S)S)S)
. . O *S)

Marketing NNP B-NP (S*
and CC I-NP *
sales NNS I-NP *
departments NNS I-NP *
then RB B-ADVP *
urged VBD B-VP *
abandonment NN B-NP *
of IN B-PP *
the DT B-NP *
pico NN I-NP *
project NN I-NP *
. . O *S)

But CC O (S*
others NNS B-NP *
said VBD B-VP *
pico NN B-NP (S(S*
should MD B-VP *
proceed VB I-VP *S)S)
. . O *S)

Both DT B-NP (S*
were VBD B-VP *
right NN B-NP *
. . O *S)

Dictaphone NNP B-NP (S(S*
went VBD B-VP *
ahead RB B-ADVP *
and CC O *
introduced VBD B-VP *
the DT B-NP *
pico NN I-NP *
in IN B-PP *
1985 CD B-NP *S)
COMMA , O *
but CC O *
it PRP B-NP (S*
has VBZ B-VP *
n't RB I-VP *
sold VBN I-VP *
well RB B-ADVP *S)
. . O *S)

To TO B-VP (S*
date VB I-VP *
COMMA , O *
says VBZ B-VP (S*
Emil NNP B-NP *
Jachmann NNP I-NP *
COMMA , O *
a DT B-NP *
Dictaphone NNP I-NP *
vice NN I-NP *
president NN I-NP *
COMMA , O *S)
it PRP B-NP *
has VBZ B-VP *
`` `` O *
broken VBN B-VP *
even RB O *
or CC O *
shown VBD B-VP *
a DT B-NP *
small JJ I-NP *
loss NN I-NP *
. . O *
'' '' O *S)

Nevertheless RB B-ADVP (S*
COMMA , O *
the DT B-NP *
device NN I-NP *
has VBZ B-VP *
been VBN I-VP *
successful JJ B-ADJP *
in IN B-PP *
other JJ B-NP *
ways NNS I-NP *
. . O *S)

It PRP B-NP (S(S*
helped VBD B-VP *
Dictaphone NNP B-NP (S*
attract VB O *
better JJR O *
engineers NNS O *S)S)
COMMA , O *
and CC O *
it PRP B-NP (S*
provided VBD B-VP *
new JJ B-NP *
technology NN I-NP *
for IN B-PP *
other JJ B-NP *
company NN I-NP *
products NNS I-NP *S)
. . O *S)

The DT B-NP (S*
picocassette NN I-NP *
recorder NN I-NP *
also RB B-ADVP *
helped VBD B-VP *
transform VB I-VP *
the DT B-NP *
company NN I-NP *
's POS B-NP *
reputation NN I-NP *
from IN B-PP *
follower NN B-NP *
to TO B-PP *
leading-edge JJ B-NP *
innovator NN I-NP *
. . O *S)

`` `` O (S*
It PRP B-NP (S*
gave VBD B-VP *
me PRP B-NP *
great JJ B-NP *
pride NN I-NP *
to TO B-VP (S*
see VB I-VP *
the DT B-NP (S*
inventor NN I-NP *
of IN B-PP *
the DT B-NP *
microcassette NN I-NP *
in IN B-PP *
Japan NNP B-NP *
look NN I-NP *
at IN B-PP *
the DT B-NP *
pico NN I-NP *
and CC O *
shake VB B-VP *
his PRP$ B-NP *
head NN I-NP *
and CC O *
say VBP B-VP *
` `` O *
unbelievable JJ B-ADJP *S)S)S)
COMMA , O *
' '' O *
'' '' O *
says VBZ B-VP *
Mr. NNP B-NP *
Jachmann NNP I-NP *
. . O *S)

Dictaphone NNP B-NP (S*
's POS B-NP *
picocassette NN I-NP *
recorder NN I-NP *
is VBZ B-VP *
one CD B-NP *
of IN B-PP *
13 CD B-NP *
case NN I-NP *
studies NNS I-NP *
in IN B-PP *
the DT B-NP *
TRIAD NNP I-NP *
Design NNP I-NP *
Project NNP I-NP *
COMMA , O *
sponsored VBN B-VP *
by IN B-PP *
the DT B-NP *
Design NNP I-NP *
Management NNP I-NP *
Institute NNP I-NP *
of IN B-PP *
Boston NNP B-NP *
and CC O *
Harvard NNP B-NP *
Business NNP I-NP *
School NNP I-NP *
. . O *S)

The DT B-NP (S*
studies NNS I-NP *
are VBP B-VP *
on IN B-PP *
exhibit NN B-NP *
at IN B-PP *
Harvard NNP B-NP *
this DT B-NP *
month NN I-NP *
and CC O *
will MD B-VP *
travel VB I-VP *
to TO B-PP *
Chicago NNP B-NP *
's POS B-NP *
Institute NNP I-NP *
of IN B-PP *
Design NNP B-NP *
and CC O *
the DT B-NP *
University NNP I-NP *
of IN B-PP *
California NNP B-NP *
at IN B-PP *
Berkeley NNP B-NP *
. . O *S)

A DT B-NP (S*
Rake NN I-NP *
's POS B-NP *
Progress NNP I-NP *
Means NNP I-NP *
Branching NNP I-NP *
Out IN O *S)

ONE CD B-NP (S(S*
DAY NNP I-NP *
Carl NNP I-NP *
Barrett NNP I-NP *
of IN B-PP *
Mobile NNP B-NP *
COMMA , O *
Ala. NNP B-NP *
COMMA , O *
was VBD B-VP *
raking VBG I-VP *
some DT B-NP *
sycamore NN I-NP *
leaves VBZ B-VP *S)
COMMA , O *
but CC O *
the DT B-NP (S*
rake NN I-NP *
kept VBD B-VP *
riding VBG I-VP *
up IN B-PRT *
over IN B-PP *
the DT B-NP *
piles NNS I-NP *S)
. . O *S)

The DT O (S(S*
harder JJR O *
he PRP B-NP (S*
tried VBD B-VP *
to TO I-VP *
push VB I-VP *
them PRP B-NP *
into IN B-PP *
large JJ B-NP *
piles NNS I-NP *S)S)
COMMA , O *
the DT B-NP *
closer JJR I-NP *
he PRP B-NP *
came VBD B-VP *
to TO O *
breaking VBG O (S*
the DT B-NP *
rake NN I-NP *
and CC O *
straining VBG B-VP *
his PRP$ O *
back RB B-ADVP *S)
. . O *S)

So RB B-ADVP (S*
Mr. NNP B-NP *
Barrett NNP I-NP *
COMMA , O *
then JJ B-NP *
vice NN I-NP *
president NN I-NP *
of IN B-PP *
the DT B-NP *
Alabama NNP I-NP *
Steamship NNP I-NP *
Association NNP I-NP *
COMMA , O *
took VBD B-VP *
a DT B-NP *
steel-toothed JJ I-NP *
garden NN I-NP *
rake NN I-NP *
and CC O *
taped VBN B-VP *
it PRP B-NP *
to TO B-PP *
the DT B-NP *
underside NN I-NP *
of IN B-PP *
a DT B-NP *
leaf NN I-NP *
rake NN I-NP *
about IN B-NP *
nine CD I-NP *
inches NNS I-NP *
up RB B-ADVP *
. . O *S)

His PRP$ B-NP (S(S*
crude NN I-NP *
device NN I-NP *
worked VBD B-VP *S)
: : O *
The DT B-NP (S*
lower JJR I-NP *
teeth NNS I-NP *
gathered VBD B-VP *
the DT B-NP *
leaves NNS I-NP *
into IN B-PP *
a DT B-NP *
pile NN I-NP *
COMMA , O *
while IN B-SBAR (S*
the DT O (S*
higher JJR O *
COMMA , O *
harder JJR B-NP *
teeth NNS I-NP *
moved VBD B-VP *
the DT B-NP *
top NN I-NP *
of IN B-PP *
the DT B-NP *
pile NN I-NP *S)S)S)
. . O *S)

Now RB B-ADVP (S(S*
incorporated VBN B-VP *
into IN B-PP *
a DT B-NP *
polypropylene NN I-NP *
rake NN I-NP *S)
COMMA , O *
the DT B-NP *
four-inch JJ I-NP *
prongs NNS I-NP *
COMMA , O *
or CC O *
`` `` B-NP *
wonderbars NNS I-NP *
COMMA , O *
'' '' O *
also RB B-ADVP *
are VBP B-VP *
supposed VBN I-VP *
to TO I-VP *
aid VB I-VP *
in IN B-PP *
picking VBG B-VP (S*
up IN O *
leaves VBZ B-VP *S)
. . O *S)

One CD B-NP (S*
customer NN I-NP *
COMMA , O *
Donald NNP B-NP *
Blaggs NNP I-NP *
of IN B-PP *
Mobile NNP B-NP *
COMMA , O *
says VBZ B-VP *
the DT B-NP (S(S*
Barrett NNP I-NP *
Rake NN I-NP *
allowed VBD B-VP *
him PRP B-NP (S*
to TO B-VP *
do VB I-VP *
his PRP$ B-NP *
lawn NN I-NP *
in IN B-PP *
2 CD B-NP *
1\/2 CD I-NP *
hours NNS I-NP *
COMMA , O *
two CD B-NP *
hours NNS I-NP *
less JJR B-NP *
than IN B-PP *
usual JJ B-ADJP *S)S)S)
. . O *S)

But CC O (S*
other JJ B-NP *
rake NN I-NP *
makers NNS I-NP *
have VBP B-VP *
their PRP$ B-NP *
doubts NNS I-NP *
. . O *S)

Richard NNP B-NP (S*
Mason NNP I-NP *
COMMA , O *
president NN B-NP *
of IN B-PP *
Ames NNP B-NP *
Co. NNP I-NP *
in IN B-PP *
Parkersburg NNP B-NP *
COMMA , O *
W. NNP B-NP *
Va. NNP I-NP *
COMMA , O *
says VBZ B-VP *
the DT B-NP (S(S(S*
Barrett NNP I-NP *
rake NN I-NP *
`` `` O *
makes VBZ O *
sense NN O *S)
COMMA , O *
'' '' O *
but CC O *
it PRP B-NP (S*
would MD B-VP *
be VB I-VP *
`` `` O *
tough JJ B-ADJP *
'' '' O *
to TO B-VP (S(S*
explain VB I-VP *
to TO B-PP *
consumers NNS B-NP *S)S)S)S)S)
. . O *S)

John NNP B-NP (S*
Stoner NNP I-NP *
COMMA , O *
marketing NN B-NP *
director NN I-NP *
for IN B-PP *
True JJ B-NP *
Temper NNP I-NP *
Corp. NNP I-NP *
COMMA , O *
a DT B-NP *
subsidiary NN I-NP *
of IN B-PP *
Black NNP B-NP *
& CC I-NP *
Decker NNP I-NP *
COMMA , O *
says VBZ B-VP *
people NNS B-NP (S(S*
do VBP B-VP *
n't RB I-VP *
want VB I-VP *
to TO I-VP *
move VB I-VP *
a DT B-NP *
leaf NN I-NP *
pile NN I-NP *S)S)
. . O *S)

`` `` O (S*
They PRP B-NP (S*
either DT B-NP *
pick NN I-NP *
it PRP B-NP *
up IN B-PRT *S)
COMMA , O *
'' '' O *
he PRP B-NP (S*
says VBZ B-VP *S)
COMMA , O *
`` `` O *
or CC O (S*
they PRP B-NP *
start VBP B-VP *
pulling VBG I-VP *
from IN B-PP *
a DT B-NP *
fresh JJ I-NP *
direction NN I-NP *S)
. . O *
'' '' O *S)

Odds NNS B-NP *
and CC I-NP *
Ends NNS I-NP *

NO DT B-NP (S*
MORE RBR I-NP *
STUBBED VBN I-NP *
toes NNS I-NP *
or CC I-NP *
bruised VBN I-NP *
shins NNS I-NP *
COMMA , O *
promises VBZ B-VP *
Geste NNP B-NP *
Corp. NNP I-NP *
of IN B-PP *
Goshen NNP B-NP *
COMMA , O *
Ind. NNP B-NP *
COMMA , O *
the DT B-NP *
designer NN I-NP *
of IN B-PP *
a DT B-NP *
bed NN I-NP *
support NN I-NP *
to TO B-VP (S(S*
replace VB I-VP *
traditional JJ B-NP *
frames NNS I-NP *S)S)
. . O *S)

Four CD B-NP (S*
tubular JJ I-NP *
steel NN I-NP *
`` `` O *
Bedfellows NNS B-NP *
COMMA , O *
'' '' O *
each DT O *
roughly RB O *
in IN B-PP *
the DT B-NP *
shape NN I-NP *
of IN B-PP *
a DT B-NP *
`` `` I-NP *
W NNP I-NP *
COMMA , O *
'' '' O *
are VBP B-VP *
attached VBN I-VP *
to TO B-PP *
the DT B-NP *
bottom NN I-NP *
of IN B-PP *
the DT B-NP *
box NN I-NP *
spring NN I-NP *
in IN B-PP *
a DT B-NP *
recessed VBN I-NP *
position NN I-NP *
... : O *
. . O *S)

Nearly RB B-NP (S*
half NN I-NP *
of IN B-PP *
U.S. NNP B-NP *
consumers NNS I-NP *
say VBP B-VP *
they PRP B-NP (S(S*
'll MD O *
pay VB O *
up VB O *
to TO B-VP *
5 VB I-VP *
% NN B-NP *
more JJR B-NP *
for IN B-PP *
packaging NN B-NP *
that WDT B-NP (S*
can MD B-VP (S*
be VB I-VP *
recycled VBN I-VP *
or CC O *
is VBZ B-VP *
biodegradable JJ B-ADJP *S)S)S)S)
COMMA , O *
according VBG B-PP *
to TO B-PP *
a DT B-NP *
survey NN I-NP *
commissioned VBN B-VP *
by IN B-PP *
the DT B-NP *
Michael NNP I-NP *
Peters NNP I-NP *
Group NNP I-NP *
COMMA , O *
a DT B-NP *
design NN I-NP *
consultant NN I-NP *
. . O *S)

The DT B-NP (S*
Pentagon NNP I-NP *
is VBZ B-VP *
a DT B-NP *
haunted VBN I-NP *
house NN I-NP *
. . O *S)

Living NNP B-NP (S(S*
there RB B-ADVP *
for IN B-PP *
six CD B-NP *
years NNS I-NP *S)
was VBD B-VP *
really RB B-ADJP *
scary JJ I-ADJP *
. . O *S)

The DT B-NP (S(S*
ghosts NNS I-NP *
of IN B-PP *
the DT O *
past JJ O *
are VBP B-VP *
everywhere RB O *S)
: : O *
They PRP B-NP (S*
are VBP B-VP *
kept VBN I-VP *
at IN B-PP *
bay NN B-NP *
only RB B-ADVP *
by IN B-PP *
feeding VBG B-VP (S*
them PRP B-NP *
vast JJ B-NP *
quantities NNS I-NP *
of IN B-PP *
our PRP$ B-NP *
defense NN I-NP *
budget NN I-NP *S)S)
. . O *S)

Some DT B-NP (S*
can MD B-VP *
be VB I-VP *
bought VBN I-VP *
off IN B-PRT *
relatively RB B-ADVP *
cheaply RB I-ADVP *
. . O *S)

During IN B-PP (S*
the DT B-NP *
Korean NNP I-NP *
War NNP I-NP *
COMMA , O *
Gen. NNP B-NP *
Douglas NNP I-NP *
MacArthur NNP I-NP *
demanded VBD B-VP *
and CC I-VP *
got VBD I-VP *
COMMA , O *
in IN B-PP *
addition NN B-NP *
to TO B-PP *
his PRP$ B-NP *
U.N. NNP I-NP *
command NN I-NP *
in IN B-PP *
Korea NNP B-NP *
COMMA , O *
his PRP$ B-NP *
own JJ I-NP *
naval JJ I-NP *
command NN I-NP *
in IN B-PP *
Japan NNP B-NP *
COMMA , O *
NavforJapan NNP B-NP *
. . O *S)

Those DT B-NP (S*
obsolete JJ I-NP *
operations NNS I-NP *
cost VBP B-VP *
less JJR B-NP *
than IN I-NP *
$ $ I-NP *
2 CD I-NP *
billion CD I-NP *
a DT B-NP *
year NN I-NP *
COMMA , O *
and CC O *
keep VB O *
Mac NNP O *
's POS B-NP *
ghost NN I-NP *
quiet JJ B-ADJP *
. . O *S)

That DT B-NP (S*
's VBZ B-VP *
about IN O *
all DT B-NP *
it PRP B-NP (S(S*
costs VBZ B-VP *
to TO I-VP (S*
appease VB I-VP *
Adm. NNP B-NP *
Erich NNP I-NP *
Raeder NNP I-NP *
's POS B-NP *
ghost NN I-NP *S)S)S)
. . O *S)

In IN B-PP (S(S*
1941 CD B-NP *
COMMA , O *
Raeder NNP B-NP *
and CC O *
the DT B-NP *
German JJ I-NP *
navy NN I-NP *
threatened VBN B-VP *
to TO B-VP *
attack VB I-VP *
the DT B-NP *
Panama NNP I-NP *
Canal NNP I-NP *S)
COMMA , O *
so IN O *
we PRP B-NP (S*
created VBD B-VP *
the DT B-NP *
Southern NNP I-NP *
Command NNP I-NP *
in IN B-PP *
Panama NNP B-NP *S)
. . O *S)

The DT B-NP (S*
Southern NNP I-NP *
Command NNP I-NP *
has VBZ B-VP *
grown VBN I-VP *
even RB O *
bigger JJR O *
since IN B-SBAR *
the DT B-NP *
war NN I-NP *
because IN B-PP (S*
Raeder NNP B-NP (S*
's POS B-NP *
ghost NN I-NP *
sometimes RB B-ADVP *
runs VBZ B-VP *
through IN B-PP *
the DT B-NP *
E NN I-NP *
ring NN I-NP *
dressed VBN B-VP (S*
like IN B-PP *
Gen. NNP B-NP *
Noriega NNP I-NP *S)S)S)
. . O *S)

The DT B-NP (S*
Command NNP I-NP *
's POS B-NP *
huge JJ I-NP *
bureaucracy NN I-NP *
is VBZ B-VP *
needed VBN I-VP *
to TO I-VP (S*
analyze VB I-VP *
whether IN O (S*
leaders NNS B-NP (S*
of IN B-PP *
coups NNS B-NP *
against IN B-PP *
Gen. NNP B-NP *
Noriega NNP I-NP *
meet VB B-VP *
the DT B-NP *
War NNP I-NP *
Powers NNP I-NP *
Act NNP I-NP *
's POS B-NP *
six CD I-NP *
points NNS I-NP *
COMMA , O *
Cap NNP B-NP *
Weinberger NNP I-NP *
's POS B-NP *
seven CD I-NP *
points NNS I-NP *
COMMA , O *
the DT B-NP *
Intelligence NNP I-NP *
Committee NNP I-NP *
's POS B-NP *
32 CD I-NP *
points NNS I-NP *
and CC O *
Woodrow NNP B-NP *
Wilson NNP I-NP *
's POS B-NP *
14 CD I-NP *
points NNS I-NP *
necessary JJ B-ADJP *
to TO B-VP (S*
justify VB I-VP *
U.S. NNP B-NP *
support NN I-NP *S)S)S)S)
. . O *S)

So RB B-ADVP (S*
far RB I-ADVP *
no DT B-NP *
one CD I-NP *
has VBZ B-VP *
. . O *S)

The DT B-NP (S*
ghost NN I-NP *
of IN B-PP *
the DT B-NP *
Soviet JJ I-NP *
brigade NN I-NP *
discovered VBN B-VP *
in IN B-PP *
Cuba NNP B-NP *
back RB B-ADVP *
in IN B-PP *
the DT B-NP *
'70s NNS I-NP *
costs NNS B-NP *
just RB B-NP *
a DT I-NP *
few JJ I-NP *
hundred CD I-NP *
million CD I-NP *
: : O *
the DT B-NP *
price NN I-NP *
of IN B-PP *
the DT B-NP *
Caribbean NNP I-NP *
Command NNP I-NP *
in IN B-PP *
Key NNP B-NP *
West NNP I-NP *
that IN B-SBAR (S*
President NNP B-NP (S*
Carter NNP I-NP *
created VBD B-VP *
in IN B-PP *
1980 CD B-NP *S)S)
. . O *S)

The DT B-NP (S(S*
brigade NN I-NP *
has VBZ B-VP *
n't RB I-VP *
been VBN I-VP *
heard VBN I-VP *
from IN B-PP *
since IN B-NP *S)
COMMA , O *
but CC O *
we PRP B-NP (S*
keep VBP B-VP *
the DT B-NP *
staff NN I-NP *
around IN B-PP *
just RB B-ADVP *
in IN B-PP *
case NN B-NP *S)
. . O *S)

George NNP B-NP (S*
Marshall NNP I-NP *
's POS B-NP *
ghost NN I-NP *
is VBZ B-VP *
much RB B-ADJP *
more RBR I-ADJP *
difficult JJ I-ADJP *
to TO B-VP (S*
keep VB I-VP *
happy JJ B-ADJP *S)
. . O *S)

We PRP B-NP (S*
keep VBP B-VP *
a DT B-NP *
lot NN I-NP *
of IN B-PP *
shrines NNS B-NP *
to TO O *
him PRP B-NP *
around IN B-PP *
the DT B-NP *
Pentagon NNP I-NP *
: : O *
statues NNS O *
COMMA , O *
busts NNS O *
COMMA , O *
relics NNS O *
and CC O *
such JJ O *
. . O *S)

The DT B-NP (S(S*
Army NNP I-NP *
headquarters NN I-NP *
on IN B-PP *
the DT B-NP *
third JJ I-NP *
deck NN I-NP *
of IN B-PP *
the DT B-NP *
Pentagon NNP I-NP *
used VBD B-VP *
to TO I-VP *
burn VB I-VP *
a DT B-NP *
lot NN I-NP *
of IN B-PP *
incense NN B-NP *
to TO B-PP *
him PRP B-NP *S)
COMMA , O *
but CC O *
the DT B-NP (S*
Navy NNP I-NP *
headquarters NN I-NP *
on IN B-PP *
the DT B-NP *
fourth JJ I-NP *
deck NN I-NP *
made VBD B-VP *
them PRP B-NP (S*
stop VBP B-VP *
it PRP B-NP *S)S)
. . O *S)

You PRP B-NP (S(S*
see VBP B-VP *S)
COMMA , O *
Marshall NNP B-NP (S*
had VBD B-VP *
this DT B-NP *
thing NN I-NP *
about IN B-PP *
the DT B-NP *
Navy NNP I-NP *
and CC O *
the DT B-NP *
Marines NNPS I-NP *S)
-- : O *
he PRP B-NP (S(S*
wanted VBD B-VP *
to TO I-VP *
make VB I-VP *
them PRP B-NP *
part NN B-NP *
of IN B-PP *
the DT B-NP *
Army NNP I-NP *S)
but CC I-NP *
Secretary NNP I-NP (S*
of IN B-PP *
the DT B-NP *
Navy NNP I-NP *
James NNP I-NP *
Forrestal NNP I-NP *
blocked VBD B-VP *
him PRP B-NP *S)S)
. . O *S)

Now RB B-ADVP (S*
his PRP$ B-NP *
ghost NN I-NP *
wo MD B-VP *
n't RB I-VP *
let VB I-VP *
up IN B-PRT *
till IN B-SBAR (S*
it PRP B-NP (S*
's VBZ B-VP *
done VBN I-VP *S)S)
. . O *S)

To TO B-VP (S(S*
keep VB I-VP *
him PRP B-NP *
quiet JJ B-ADJP *S)
we PRP B-NP *
invent VBP B-VP *
a DT B-NP *
new JJ I-NP *
unified JJ I-NP *
command NN I-NP *
every DT O *
year NN O *
or CC O *
so RB O *
run VB O *
by IN B-PP *
the DT B-NP *
Army NNP I-NP *
or CC O *
the DT B-NP *
Air NNP I-NP *
Force NNP I-NP *
and CC O *
put VB B-VP *
more JJR B-NP *
of IN B-PP *
the DT B-NP *
Navy NNP I-NP *
and CC I-NP *
Marines NNPS I-NP *
under IN B-PP *
it PRP B-NP *
. . O *S)

But CC O (S(S*
we PRP B-NP *
still RB B-ADVP *
hear VBP B-VP *
him PRP B-NP (S*
moaning VBG B-VP *
at IN B-PP *
night NN B-NP *
because IN B-SBAR (S*
the DT B-NP (S*
Navy NNP I-NP *
has VBZ B-VP *
a DT B-NP *
few JJ I-NP *
ships NNS I-NP *
left VBN B-VP *S)S)S)S)
COMMA , O *
and CC O *
to TO B-VP (S(S*
satisfy VB I-VP *
him PRP B-NP *S)
the DT B-NP (S*
Navy NNP I-NP *
's POS B-NP *
sea NN I-NP *
lift NN I-NP *
forces NNS I-NP *
were VBD B-VP *
given VBN I-VP *
to TO B-PP *
a DT B-NP *
new JJ I-NP *
Air NNP I-NP *
Force NNP I-NP *
bureaucracy NN I-NP *
in IN B-PP *
Illinois NNP B-NP *S)
COMMA , O *
its PRP$ B-NP (S*
space NN I-NP *
operations NNS I-NP *
to TO B-PP *
another DT B-NP *
command NN I-NP *
in IN B-PP *
Colorado NNP B-NP *S)
COMMA , O *
the DT B-NP (S*
frogmen NNS I-NP *
to TO B-PP *
a DT B-NP *
new JJ I-NP *
Army NNP I-NP *
bureaucracy NN I-NP *
in IN B-PP *
Fort NNP B-NP *
Bragg NNP I-NP *S)
COMMA , O *
and CC O *
the DT B-NP (S*
Navy NNP I-NP *
's POS B-NP *
Indian NNP I-NP *
Ocean NNP I-NP *
and CC I-NP *
Persian NNP I-NP *
Gulf NNP I-NP *
forces NNS I-NP *
to TO B-PP *
an DT B-NP *
Army NNP I-NP *
bureaucracy NN I-NP *
in IN B-PP *
Florida NNP B-NP *S)S)
. . O *S)

Which WDT B-NP (S*
brings VBZ B-VP (S*
up IN B-SBAR *
the DT B-NP *
worst JJS I-NP *
and CC O *
meanest JJS B-NP *
ghost NN I-NP *
of IN B-PP *
all DT B-NP *
-- : O *
the DT B-NP *
ghost NN I-NP *
of IN B-PP *
the DT B-NP *
shah NN I-NP *
of IN B-PP *
Iran NNP B-NP *S)
. . O *S)

When WRB B-ADVP (S(S*
the DT B-NP (S*
shah NN I-NP *
died VBD B-VP *S)S)
COMMA , O *
President NNP B-NP *
Carter NNP I-NP *
was VBD B-VP *
so RB I-VP *
scared VBN I-VP *
that IN B-SBAR (S*
the DT B-NP (S*
shah NN I-NP *
's POS B-NP *
ghost NN I-NP *
would MD B-VP *
blame VB I-VP *
him PRP B-NP *
for IN B-PP *
shoving VBG B-VP (S*
him PRP B-NP *
out IN B-PRT *
to TO B-VP (S*
make VB I-VP *
way NN B-NP *
for IN B-PP *
the DT B-NP *
ayatollah NN I-NP *S)S)S)S)
that IN B-SBAR (S*
he PRP B-NP (S*
declared VBD B-VP *
the DT B-NP *
Carter NNP I-NP *
Doctrine NNP I-NP *S)S)
. . O *S)

Mr. NNP B-NP (S*
Carter NNP I-NP *
said VBD B-VP *
he PRP B-NP (S(S*
would MD B-VP *
go VB I-VP *
to TO I-VP *
war VB I-VP *
to TO I-VP (S*
stop VB I-VP *
anyone NN B-NP *
from IN B-PP *
trying VBG B-VP (S*
to TO I-VP *
grab VB I-VP *
Iran NNP B-NP *S)S)S)S)
. . O *S)

But CC O (S(S*
that DT B-NP *
ghost NN I-NP *
would MD B-VP *
n't RB I-VP *
settle VB I-VP *
for IN B-PP *
words NNS B-NP *S)
COMMA , O *
he PRP B-NP (S*
wanted VBD B-VP *
money NN B-NP *
and CC I-NP *
people NNS I-NP *
-- : O *
lots NNS B-NP *S)
. . O *S)

So RB O (S*
Mr. NNP B-NP *
Carter NNP I-NP *
formed VBD B-VP *
three CD B-NP *
new JJ I-NP *
Army NNP I-NP *
divisions NNS I-NP *
and CC O *
gave VBD B-VP *
them PRP B-NP *
to TO B-PP *
a DT B-NP *
new JJ I-NP *
bureaucracy NN I-NP *
in IN B-PP *
Tampa NNP B-NP *
called VBD B-VP *
the DT B-NP *
Rapid NNP I-NP *
Deployment NNP I-NP *
Force NNP I-NP *
. . O *S)

But CC O (S(S*
that DT B-NP *
ghost NN I-NP *
was VBD B-VP *
n't RB I-VP *
fooled VBN I-VP *S)
; : O *
he PRP B-NP (S*
knew VBD B-VP *
the DT B-NP (S(S*
RDF NNP I-NP *
was VBD B-VP *
neither DT O *
rapid JJ O *
nor CC O *
deployable JJ O *
nor CC O *
a DT B-NP *
force NN I-NP *
-- : O *
even RB O (S*
though IN O *
it PRP B-NP (S*
cost VBP B-VP *
$ $ B-NP *
8 CD I-NP *
billion CD I-NP *
or CC I-NP *
$ $ I-NP *
10 CD I-NP *
billion CD I-NP *
a DT B-NP *
year NN I-NP *S)S)S)S)S)
. . O *S)

After IN B-SBAR (S(S*
Mr. NNP B-NP (S*
Carter NNP I-NP *
was VBD B-VP *
defeated VBN I-VP *
in IN B-PP *
1980 CD B-NP *S)S)
COMMA , O *
the DT B-NP *
shah NN I-NP *
's POS B-NP *
ghost NN I-NP *
claimed VBD B-VP *
the DT B-NP *
credit NN I-NP *
and CC O *
then RB O *
went VBD B-VP *
after IN B-SBAR *
President NNP B-NP *
Reagan NNP I-NP *
and CC O *
Cap NNP B-NP *
Weinberger NNP I-NP *
. . O *S)

I PRP B-NP (S*
saw VBD B-VP *
what WP B-NP (S*
he PRP B-NP (S*
did VBD B-VP *
to TO O *
them PRP O *S)S)
firsthand RB B-ADVP *
. . O *S)

It PRP B-NP (S*
made VBD B-VP *
my PRP$ B-NP *
shoelaces NNS I-NP *
dance VBP B-VP *
with IN B-PP *
terror NN B-NP *
. . O *S)

Why WRB B-ADVP (S(S*
COMMA , O *
he PRP B-NP *
used VBD B-VP *
to TO I-VP *
lay VB I-VP *
in IN B-PP *
wait NN B-NP *
for IN B-PP *
Cap NNP B-NP *S)
; : O *
suddenly RB B-ADVP (S*
he PRP B-NP *
'd MD B-VP *
leap VB I-VP *
from IN O *
behind IN B-PP *
some DT B-NP *
statue NN I-NP *
of IN B-PP *
Marshall NNP B-NP *
onto IN B-PP *
Cap NNP B-NP *
's POS B-NP *
chest NN I-NP *
and CC O *
grab VB B-VP *
him PRP B-NP *
by IN B-PP *
the DT B-NP *
throat NN I-NP *
and CC O *
choke VB B-VP *
him PRP B-NP *
till IN B-SBAR (S*
he PRP B-NP (S*
coughed VBD B-VP *
up IN B-PRT *
an DT O *
additional JJ O *
$ $ O *
2 CD O *
billion CD O *
or CC O *
so RB O *S)S)S)
. . O *S)

Cap NNP B-NP (S*
added VBD B-VP *
four CD B-NP *
more JJR I-NP *
divisions NNS I-NP *
to TO B-PP *
the DT B-NP *
Army NNP I-NP *
COMMA , O *
two CD O *
active JJ O *
and CC O *
two CD B-NP *
reserve NN I-NP *
; : O *
two CD B-NP *
carrier NN I-NP *
groups NNS I-NP *
to TO B-PP *
the DT B-NP *
Navy NNP I-NP *
; : O *
a DT B-NP *
division NN I-NP *
-- : O *
equivalent NN B-ADJP *
to TO B-PP *
the DT B-NP *
Marines NNPS I-NP *
; : O *
and CC O *
the DT B-NP *
C-5B NN I-NP *
COMMA , O *
KC-10 NNP B-NP *
COMMA , O *
C-17 NNP B-NP *
and CC O *
a DT B-NP *
thousand CD I-NP *
tactical JJ I-NP *
aircraft NN I-NP *
to TO B-PP *
the DT B-NP *
Air NNP I-NP *
Force NNP I-NP *
. . O *S)

He PRP B-NP (S*
bought VBD B-VP *
$ $ B-NP *
4 CD I-NP *
billion CD I-NP *
in IN B-PP *
prepositioning JJ B-NP *
ships NNS I-NP *
and CC O *
$ $ B-NP *
7 CD I-NP *
billion CD I-NP *
in IN B-PP *
ammo NN B-NP *
and CC I-NP *
equipment NN I-NP *
to TO B-VP (S(S*
fill VB I-VP *
them PRP B-NP *S)S)
COMMA , O *
and CC O *
parked VBD B-VP *
them PRP B-NP *
at IN B-PP *
a DT B-NP *
new JJ I-NP *
$ $ I-NP *
6 CD I-NP *
billion CD I-NP *
base NN I-NP *
at IN B-PP *
Diego NNP B-NP *
Garcia NNP I-NP *
in IN B-PP *
the DT B-NP *
middle NN I-NP *
of IN B-PP *
the DT B-NP *
Indian NNP I-NP *
Ocean NNP I-NP *
. . O *S)

He PRP B-NP (S*
dedicated VBD B-VP *
all PDT B-NP *
these DT I-NP *
new JJ I-NP *
forces NNS I-NP *
to TO B-PP *
the DT B-NP *
Persian NNP I-NP *
Gulf NNP I-NP *
. . O *S)

One CD B-NP (S*
night NN I-NP *
both DT B-NP *
Marshall NNP I-NP *
's POS B-NP *
ghost NN I-NP *
and CC O *
the DT B-NP *
shah NN I-NP *
's POS B-NP *
ghost NN I-NP *
together RB B-ADVP *
caught VBD B-VP *
Cap NNP B-NP *
and CC O *
threw VBD B-VP *
him PRP B-NP *
to TO B-PP *
the DT B-NP *
ground NN I-NP *
. . O *S)

Before IN B-SBAR (S(S*
they PRP B-NP (S*
let VBP B-VP *
him PRP B-NP (S*
go VBP B-VP *S)S)S)
he PRP B-NP *
added VBD B-VP *
a DT B-NP *
thousand CD I-NP *
bureaucrats NNS I-NP *
to TO B-PP *
the DT B-NP *
RDF NNP I-NP *
in IN B-PP *
Tampa NNP B-NP *
and CC O *
renamed VBN B-VP *
it PRP B-NP *
Central NNP B-NP *
Command NNP I-NP *
. . O *S)

He PRP B-NP (S*
gave VBD B-VP *
those DT B-NP *
bureaucrats NNS I-NP *
charge VBP B-VP *
of IN B-PP *
all DT B-NP *
naval JJ I-NP *
operations NNS I-NP *
in IN B-PP *
the DT O *
Persian NNP O *
Gulf NNP O *
and CC O *
Indian NNP B-NP *
Ocean NNP I-NP *
. . O *S)

Marshall NNP B-NP (S(S*
figured VBD B-VP *
it PRP B-NP (S(S*
would MD B-VP *
be VB I-VP *
good JJ B-NP *
training NN I-NP *
for IN B-PP *
those DT B-NP *
soldiers NNS I-NP *S)S)S)
-- : O *
someday RB B-ADVP (S*
maybe RB I-ADVP *
they PRP B-NP *
would MD B-VP *
get VB I-VP *
the DT B-NP *
whole JJ I-NP *
Navy NNP I-NP *S)
. . O *S)

They PRP B-NP (S(S*
had VBD B-VP *
fun NN B-NP *
moving VBG B-VP (S*
the DT B-NP *
carriers NNS I-NP *
around IN B-ADVP *S)S)
COMMA , O *
but CC O *
it PRP B-NP (S*
turned VBD B-VP *
out RP B-PRT *
that IN B-SBAR (S*
they PRP B-NP (S*
had VBD B-VP *
forgotten VBN I-VP *
all DT B-NP *
about JJ I-NP *
mine NN I-NP *
sweepers NNS I-NP *S)S)S)
. . O *S)

But CC O (S(S*
the DT B-NP *
shah NN I-NP *
still RB B-ADVP *
kept VBD B-VP *
leaping VBG I-VP *
out IN B-PP *
at IN B-PP *
Cap NNP B-NP *S)
COMMA , O *
so RB O *
Cap NNP B-NP (S*
bought VBD B-VP *
a DT B-NP *
hundred CD I-NP *
merchant NN I-NP *
ships NNS I-NP *
more JJR O *
and CC O *
$ $ B-NP *
7 CD I-NP *
billion CD I-NP *
of IN B-PP *
loading NN B-NP *
barges NNS I-NP *
COMMA , O *
ramps NNS B-NP *
COMMA , O *
etc. FW O *
COMMA , O *
in IN B-PP (S*
order NN B-NP *
that IN B-NP *
those DT B-NP (S*
seven CD I-NP *
new JJ I-NP *
Army NNP I-NP *
divisions NNS I-NP *
and CC O *
three CD B-NP *
Marine NNP I-NP *
brigades NNS I-NP *
could MD B-VP *
unload VB I-VP *
from IN B-PP *
all PDT B-NP *
those DT I-NP *
new JJ I-NP *
ships NNS I-NP *
and CC I-NP *
aircraft NN I-NP *
and CC O *
go VB B-VP *
to TO I-VP *
war VB I-VP *
in IN B-PP *
the DT B-NP *
Zagros NNP I-NP *
mountains NNS I-NP *S)S)S)
. . O *S)

Then RB O (S*
suddenly RB O *
Ike NNP B-NP *
's POS B-NP *
ghost NN I-NP *
came VBD B-VP *
to TO I-VP *
visit VB I-VP *
and CC O *
said VBD B-VP *
COMMA , O *
`` `` O (S*
What WP B-NP *
the DT B-NP *
hell NN I-NP *
are VBP B-VP (S*
you PRP B-NP *
doing VBG B-VP *
planning NN B-NP (S*
for IN B-PP *
a DT B-NP *
land NN I-NP *
war NN I-NP *
in IN B-PP *
Asia NNP B-NP *
12COMMA000 CD B-NP *
miles NNS I-NP *
away RB B-ADVP *S)S)S)
? . O *S)

We PRP B-NP (S*
'd MD B-VP *
get VB I-VP *
our PRP$ B-NP (S*
asses NNS I-NP *
kicked VBD B-VP *S)
. . O *
'' '' O *S)

Lucky NNP B-NP (S*
for IN B-PP *
Cap NNP B-NP *
COMMA , O *
Ike NNP B-NP *
was VBD B-VP *
easygoing JJ B-ADJP *
and CC O *
soon RB B-VP *
went VBD I-VP *
away RB B-ADVP *
COMMA , O *
while IN B-SBAR (S*
the DT B-NP (S*
shah NN I-NP *
-- : O *
he PRP B-NP *
kept VBD B-VP *
coming VBG I-VP *
back RB B-ADVP *S)S)
. . O *S)

So RB O (S*
the DT B-NP *
U.S. NNP I-NP *
found VBD B-VP *
itself PRP B-NP *
paying VBG B-VP (S*
about RB B-NP *
$ $ I-NP *
2 CD I-NP *
billion CD I-NP *
in IN B-PP *
baksheesh NN B-NP *
to TO B-PP *
various JJ B-NP *
Arab NNP I-NP *
potentates NNS I-NP *
for IN B-PP *
basing VBG B-VP *
rights NNS B-NP *
around IN B-PP *
the DT B-NP *
Indian NNP I-NP *
Ocean NNP I-NP *S)
. . O *S)

We PRP B-NP (S*
had VBD B-VP *
great JJ B-NP *
success NN I-NP *
in IN B-PP *
Somalia NNP B-NP *
. . O *S)

But CC O (S(S*
then RB B-ADVP *
it PRP B-NP *
turned VBD B-VP *
out RP B-PRT *
that IN B-SBAR (S*
President NNP B-NP (S*
Siad NNP I-NP *
Barrah NNP I-NP *
was VBD B-VP *
not RB O *
at IN B-PP *
all PDT B-NP *
a DT I-NP *
nice JJ I-NP *
person NN I-NP *S)S)S)
and CC O *
the DT B-NP (S*
Navy NNP I-NP *
pointed VBD B-VP *
out RP B-PRT *
that IN B-SBAR (S*
the DT B-NP (S*
base NN I-NP *
he PRP B-NP (S(S*
promised VBD B-VP *
us PRP B-NP *S)S)
in IN B-PP *
Berbera NNP B-NP *
had VBD B-VP *
silted VBN I-VP *
up IN B-PRT *
about IN B-NP *
a DT I-NP *
hundred CD I-NP *
years NNS I-NP *
ago RB B-ADVP *
and CC I-ADVP *
anyway RB I-ADVP *
was VBD B-VP *
1COMMA244 CD B-NP *
miles NNS I-NP *
from IN B-PP *
the DT B-NP *
mouth NN I-NP *
of IN B-PP *
the DT B-NP *
Gulf NNP I-NP *S)S)S)
. . O *S)

( -LRB- O (S*
But CC O *
who WP B-NP *
's VBZ B-VP (S*
counting VBG I-VP *S)
. . O *
) -RRB- O *S)

Still RB B-ADVP (S(S*
COMMA , O *
Berbera NNP B-NP *
was VBD B-VP *
the DT O *
best JJS O *
we PRP B-NP (S(S*
could MD B-VP *
get VB I-VP *S)S)S)
COMMA , O *
so IN O *
we PRP B-NP (S*
stay VBP B-VP *
in IN B-PP *
bed NN B-NP *
with IN B-PP *
President NNP B-NP *
Barrah NNP I-NP *S)
. . O *S)

All DT B-NP (S*
these DT I-NP *
reports NNS I-NP *
about IN B-PP *
him PRP B-NP (S*
committing VBG O *
genocide NN O *S)
are VBP B-VP *
probably RB I-VP *
exaggerated VBN I-VP *
anyway RB B-ADVP *
. . O *S)

But CC O (S(S*
would MD O *
n't RB O *
you PRP B-NP *
know VB B-VP *S)
COMMA , O *
now RB B-SBAR (S(S*
that IN I-SBAR *
we PRP B-NP (S*
are VBP B-VP *
spending VBG I-VP *
jillions NNS B-NP *
of IN B-PP *
dollars NNS B-NP *
COMMA , O *
and CC O *
have VBP B-VP *
built VBN I-VP *
those DT B-NP *
new JJ I-NP *
divisions NNS I-NP *
and CC O *
new JJ B-NP *
air NN I-NP *
wings NNS I-NP *
COMMA , O *
and CC O *
have VBP B-VP *
positioned VBN I-VP *
all PDT B-NP *
these DT I-NP *
ships NNS I-NP *
and CC I-NP *
supplies NNS I-NP *
to TO B-VP (S*
fight VB I-VP *
the DT B-NP *
Russians NNPS I-NP *
in IN B-PP *
Iran NNP B-NP *S)S)S)
COMMA , O *
the DT B-NP *
Russians NNPS I-NP *
seem VBP O *
to TO O *
have VB O *
lost VBN O *
interest NN O *
in IN B-PP *
the DT B-NP *
whole JJ I-NP *
subject NN I-NP *S)
. . O *S)

Meanwhile RB B-ADVP (S*
COMMA , O *
Congress NNP B-NP *
is VBZ B-VP *
cutting VBG I-VP *
huge JJ B-NP *
chunks NNS I-NP *
out IN B-PP *
of IN B-PP *
the DT B-NP *
rest NN I-NP *
of IN B-PP *
the DT B-NP *
defense NN I-NP *
budget NN I-NP *
. . O *S)

Predictably RB B-ADVP (S*
COMMA , O *
some DT B-NP *
Navy NNP I-NP *
guys NNS I-NP *
said VBD B-VP *
: : O *
`` `` O (S*
Do VBP B-VP *
we PRP B-NP *
still JJ O *
need NN O *
to TO B-VP *
keep VB I-VP *
all DT B-NP *
18 CD I-NP *
Army NNP I-NP *
divisions NNS I-NP *
on IN B-PP *
active JJ B-NP *
duty NN I-NP *
and CC O *
all PDT B-NP *
those DT I-NP *
extra JJ I-NP *
land-based JJ I-NP *
aircraft NN I-NP *
without IN B-PP *
bases NNS B-NP *
and CC O *
all PDT B-NP *
those DT I-NP *
Army NNP I-NP *
guys NNS I-NP *
playing VBG B-VP *
admiral NN B-NP *
in IN B-PP *
Tampa NNP B-NP *S)
? . O *S)

Could MD O (S*
n't RB B-ADVP *
we PRP B-NP *
save VB B-VP *
$ $ B-NP *
20 CD I-NP *
billion CD I-NP *
or CC I-NP *
$ $ I-NP *
30 CD I-NP *
billion CD I-NP *
a DT B-NP *
year NN I-NP *
by IN B-PP *
shifting VBG B-VP (S*
that DT B-NP *
stuff NN I-NP *
to TO B-PP *
the DT B-NP *
reserves NNS I-NP *S)
? . O *S)

And CC O (S*
why WRB B-ADVP *
not RB O *
save VB O (S*
the DT B-NP *
costs NNS I-NP *
of IN B-PP *
a DT B-NP *
thousand CD I-NP *
bureaucrats NNS I-NP *
by IN B-PP *
abolishing VBG B-VP (S*
Central NNP B-NP *
Command NNP I-NP *
and CC O *
putting VBG B-VP *
responsibility NN O *
for IN B-PP *
Gulf NNP B-NP *
naval JJ I-NP *
operations NNS I-NP *
back RB B-ADVP *
where WRB B-ADVP (S*
it PRP B-NP (S*
belongs VBZ B-VP *S)S)
COMMA , O *
afloat RB B-ADVP *
with IN B-PP *
the DT B-NP *
task NN I-NP *
force NN I-NP *
commander NN I-NP *
in IN B-PP *
the DT B-NP *
Gulf NNP I-NP *S)S)
? . O *S)

And CC O (S*
where WRB B-ADVP *
were VBD B-VP (S*
all DT O *
our PRP$ O *
handsomely RB O *
paid VBN O *
Indian NNP B-NP *
Ocean NNP I-NP *
allies NNS I-NP *
last JJ B-NP *
year NN I-NP *
when WRB B-ADVP (S*
our PRP$ B-NP (S*
convoys NNS I-NP *
were VBD B-VP *
being VBG I-VP *
attacked VBN I-VP *S)S)S)
? . O *
'' '' O *S)

Questions NNS B-NP (S*
like IN B-PP *
that DT O *
really RB O *
stir VB O *
up IN O *
Marshall NNP B-NP *
's POS B-NP *
ghost NN I-NP *
. . O *S)

He PRP B-NP (S*
appeared VBD B-VP *
late JJ B-NP *
one CD I-NP *
night NN I-NP *
in IN B-PP *
the DT B-NP *
bedroom NN I-NP *
of IN B-PP *
the DT B-NP *
new JJ I-NP *
defense NN I-NP *
secretary NN I-NP *
COMMA , O *
Dick NNP B-NP *
Cheney NNP I-NP *
. . O *S)

Marshall NNP B-NP (S*
came VBD B-VP *
clanking VBG I-VP *
in IN B-PP *
like IN B-PP *
Marley NNP B-NP *
's POS B-NP *
ghost NN I-NP *
dragging VBG B-VP *
those DT B-NP *
chains NNS I-NP *
of IN B-PP *
brigades NNS B-NP *
and CC O *
air NN B-NP *
wings NNS I-NP *
and CC I-NP *
links NNS I-NP *
with IN B-PP *
Arab NNP B-NP *
despots NNS I-NP *
. . O *S)

He PRP B-NP (S*
would MD B-VP *
n't RB I-VP *
leave VB I-VP *
until IN B-PP (S*
Mr. NNP B-NP (S*
Cheney NNP I-NP *
promised VBD B-VP *
to TO I-VP *
do VB I-VP *
whatever WDT B-NP (S*
the DT B-NP (S*
Pentagon NNP I-NP *
systems NNS I-NP *
analysts NNS I-NP *
told VBD B-VP *
him PRP B-NP *S)S)S)S)
. . O *S)

So RB O (S(S*
next JJ O *
day NN O *
Mr. NNP B-NP *
Cheney NNP I-NP *
went VBD B-VP *
out IN O *
and CC O *
did VBD O *
just RB O *
that IN O *S)
: : O *
He PRP B-NP (S*
canceled VBD B-VP *
the DT B-NP *
600-ship NNP I-NP *
Navy NNP I-NP *
and CC O *
cut VB B-VP *
back RB O *
one CD O *
carrier NN O *
and CC O *
20 CD O *
frigates NNS O *S)
. . O *S)

Then RB O (S*
he PRP B-NP *
canceled VBD B-VP *
production NN B-NP *
of IN B-PP *
the DT B-NP *
Navy NNP I-NP *
's POS B-NP *
most RBS O *
important JJ O *
carrier NN O *
aircraft NN O *
COMMA , O *
the DT B-NP *
F-14 NN I-NP *
and CC O *
the DT B-NP *
A-6 NN I-NP *
. . O *S)

On IN B-PP (S*
the DT B-NP *
other JJ I-NP *
hand NN I-NP *
COMMA , O *
Mr. NNP B-NP *
Cheney NNP I-NP *
retained VBD B-VP *
all PDT B-NP *
those DT I-NP *
new JJ I-NP *
land NN I-NP *
forces NNS I-NP *
. . O *S)

Marshall NNP B-NP (S(S*
's POS B-NP *
ghost NN I-NP *
is VBZ B-VP *
satisfied VBN I-VP *
for IN B-PP *
now RB B-ADVP *S)
COMMA , O *
but CC O *
he PRP B-NP (S*
'll MD B-VP *
be VB I-VP *
back RB B-ADVP *S)
. . O *S)

What WP B-NP (S*
with IN B-PP *
Halloween NNP O (S(S*
coming VBG O *S)
and CC O *
bigger JJR B-NP (S*
defense NN I-NP *
cuts NNS I-NP *
looming VBG B-VP *S)S)
COMMA , O *
more JJR B-NP *
and CC I-NP *
more JJR I-NP *
Pentagon NNP I-NP *
bureaucrats NNS I-NP *
are VBP B-VP *
crawling VBG I-VP *
under IN B-PP *
their PRP$ B-NP *
desks NNS I-NP *
. . O *S)

They PRP B-NP (S*
know VBP B-VP *
that IN B-SBAR (S*
they PRP B-NP (S*
can MD B-VP *
hold VB I-VP *
off IN B-PRT *
the DT B-NP *
ghosts NNS I-NP *
only RB B-NP *
a DT I-NP *
little JJ I-NP *
while IN O *
longer RB B-ADVP *
by IN B-PP *
cutting VBG O (S*
carriers NNS O *
and CC O *
ships NNS O *S)S)S)
. . O *S)

Then RB B-ADVP (S(S*
the DT B-NP *
whole JJ I-NP *
thing NN I-NP *
will MD B-VP *
start VB I-VP *
to TO I-VP *
collapse VB I-VP *
COMMA , O *
just RB B-SBAR (S*
as IN I-SBAR *
it PRP B-NP (S*
did VBD B-VP *
in IN B-PP *
the DT B-NP *
1970s NNS I-NP *S)S)S)
COMMA , O *
and CC O *
the DT B-NP (S*
ghosts NNS I-NP *
and CC I-NP *
banshees NNS I-NP *
will MD B-VP *
be VB I-VP *
howling VBG I-VP *
through IN B-PP *
the DT B-NP *
place NN I-NP *
turning VBG B-VP (S*
people NNS B-NP *
's POS B-NP *
hair NN I-NP *
white JJ B-ADJP *S)S)
. . O *S)

Gives VBZ B-VP (S*
me PRP B-NP *
the DT B-NP *
willies NNS I-NP *
just RB O (S*
thinking VBG O *
about IN B-PP *
it PRP B-NP *S)
. . O *S)

Mr. NNP B-NP (S*
Lehman NNP I-NP *
COMMA , O *
a DT B-NP *
Reagan NNP I-NP *
Navy NNP I-NP *
secretary NN I-NP *
COMMA , O *
is VBZ B-VP *
a DT B-NP *
managing VBG I-NP *
director NN I-NP *
of IN B-PP *
PaineWebber NNP B-NP *
. . O *S)

The DT B-NP (S*
metal NN I-NP *
and CC I-NP *
marble NN I-NP *
lobby NN I-NP *
of IN B-PP *
CenTrust NNP B-NP *
Bank NNP I-NP *
's POS B-NP *
headquarters NN I-NP *
is VBZ B-VP *
grander JJR B-ADJP *
than IN B-PP *
your PRP$ B-NP *
average JJ I-NP *
savings NNS I-NP *
and CC I-NP *
loan NN I-NP *
. . O *S)

For IN B-PP (S*
one CD B-NP *
thing NN I-NP *
COMMA , O *
there EX B-NP *
is VBZ B-VP *
an DT B-NP *
old JJ I-NP *
master NN I-NP *
on IN B-PP *
the DT B-NP *
wall NN I-NP *
-- : O *
`` `` O *
Samuel NNP B-NP *
Anointing VBG B-VP *
David NNP B-NP *
COMMA , O *
'' '' O *
a DT B-NP *
big JJ I-NP *
baroque JJ I-NP *
canvas NN I-NP *
painted VBN B-VP *
by IN B-PP *
Mattia NNP B-NP *
Preti NNP I-NP *
COMMA , O *
a DT B-NP *
17th-century NNP I-NP *
Neapolitan NNP I-NP *
. . O *S)

At IN B-PP (S*
the DT B-NP *
moment NN I-NP *
COMMA , O *
however RB B-ADVP *
COMMA , O *
the DT B-NP *
painting NN I-NP *
is VBZ B-VP *
a DT B-NP *
nagging JJ I-NP *
reminder NN I-NP *
of IN B-PP *
the DT B-NP *
problems NNS I-NP *
that WDT B-NP (S*
have VBP B-VP (S*
engulfed VBN I-VP *
CenTrust NNP B-NP *
and CC O *
its PRP$ B-NP *
flamboyant JJ I-NP *
chairman NN I-NP *
and CC O *
chief JJ B-NP *
executive NN I-NP *
COMMA , O *
David NNP B-NP *
L. NNP I-NP *
Paul NNP I-NP *S)S)
. . O *S)

In IN B-PP (S*
an DT B-NP *
international JJ I-NP *
buying NN I-NP *
spree NN I-NP *
that WDT B-NP (S*
began VBD B-VP (S*
barely RB B-NP *
two CD I-NP *
years NNS I-NP *
ago RB B-ADVP *S)S)
COMMA , O *
Mr. NNP B-NP *
Paul NNP I-NP *
amassed VBD B-VP *
a DT B-NP *
collection NN I-NP *
of IN B-PP *
about IN B-NP *
30 CD I-NP *
pre-18th-century JJ I-NP *
works NNS I-NP *
COMMA , O *
including VBG B-PP *
the DT B-NP *
Preti NNP I-NP *
COMMA , O *
at IN B-PP *
a DT B-NP *
total JJ I-NP *
cost NN I-NP *
of IN B-PP *
$ $ B-NP *
28 CD I-NP *
million CD I-NP *
. . O *S)

By IN B-PP (S*
midnight NN B-NP *
Oct. NNP B-NP *
6 CD I-NP *
COMMA , O *
all DT B-NP *
of IN B-PP *
the DT B-NP *
paintings NNS I-NP *
were VBD B-VP *
supposed VBN I-VP *
to TO I-VP *
have VB I-VP *
been VBN I-VP *
sold VBN I-VP *
off IN O *
COMMA , O *
under IN B-PP *
orders NNS B-NP *
from IN B-PP *
Florida NNP B-NP *
's POS B-NP *
comptroller NN I-NP *
COMMA , O *
whose WP$ B-NP (S*
office NN I-NP *
regulates VBZ B-VP (S*
the DT B-NP *
state NN I-NP *
's POS B-NP *
S&Ls NNS I-NP *S)S)
. . O *S)

CenTrust NNP B-NP (S*
did VBD B-VP *
n't RB I-VP *
meet VB I-VP *
the DT B-NP *
deadline NN I-NP *
. . O *S)

The DT B-NP (S*
collection NN I-NP *
was VBD B-VP *
at IN B-PP *
the DT B-NP *
heart NN I-NP *
of IN B-PP *
a DT B-NP *
grandiose JJ I-NP *
plan NN I-NP *
Mr. NNP B-NP (S(S*
Paul NNP I-NP *
had VBD B-VP *S)S)
in IN B-PP (S*
which WDT B-NP *
the DT B-NP (S*
art NN I-NP *
was VBD B-VP *
to TO B-VP *
do VB I-VP *
double JJ B-NP *
duty NN I-NP *
-- : O *
as IN B-PP *
an DT B-NP *
investment NN I-NP *
for IN B-PP *
CenTrust NNP B-NP *
and CC B-PP *
as IN B-PP *
decoration NN B-NP *
for IN B-PP *
the DT B-NP *
S&L NNP I-NP *
's POS B-NP *
new JJ I-NP *
office NN I-NP *
tower NN I-NP *
COMMA , O *
designed VBN B-VP *
by IN B-PP *
I.M. NNP B-NP *
Pei NNP I-NP *S)S)
. . O *S)

The DT B-NP (S*
rub NN I-NP *
is VBZ B-VP *
that IN B-SBAR (S*
the DT B-NP (S*
$ $ I-NP *
28 CD I-NP *
million CD I-NP *
was VBD B-VP *
plucked VBN I-VP *
from IN B-PP *
the DT B-NP *
funds NNS I-NP *
of IN B-PP *
this DT B-NP *
federally RB I-NP *
insured VBN I-NP *
institution NN I-NP *
even RB O (S*
as IN B-PP *
CenTrust NNP B-NP (S*
was VBD B-VP *
losing VBG I-VP *
money NN B-NP *
hand NN I-NP *
over IN B-PP *
fist NN B-NP *S)S)S)S)
. . O *S)

Mr. NNP B-NP (S*
Paul NNP I-NP *
had VBD B-VP *
no DT B-NP *
right NN I-NP *
to TO B-VP (S*
buy VB I-VP *
art NN B-NP *
for IN B-PP *
the DT B-NP *
S&L NNP I-NP *
in IN B-PP *
the DT B-NP *
first JJ I-NP *
place NN I-NP *
-- : O *
it PRP B-NP (S*
is VBZ B-VP *
n't RB O *
on IN B-PP *
the DT B-NP *
comptroller NN I-NP *
's POS B-NP *
`` `` I-NP *
permissible JJ I-NP *
'' '' I-NP *
list NN I-NP *S)
-- : O *
without IN B-PP *
seeking VBG B-VP (S(S*
a DT B-NP *
special JJ I-NP *
dispensation NN I-NP *S)
COMMA , O *
which WDT B-NP (S*
he PRP B-NP (S*
did VBD B-VP *
not RB I-VP *
do VB I-VP *S)S)S)S)
. . O *S)

Besides IN B-PP (S*
that DT B-NP *
COMMA , O *
some DT B-NP *
of IN B-PP *
the DT B-NP *
paintings NNS I-NP *
that WDT B-NP (S*
were VBD B-VP (S*
to TO I-VP *
grace VB I-VP *
the DT B-NP *
walls NNS I-NP *
of IN B-PP *
CenTrust NNP B-NP *S)S)
actually RB B-ADVP *
ended VBD B-VP *
up IN B-PRT *
hanging VBG B-VP (S*
in IN B-PP *
the DT B-NP *
chairman NN I-NP *
's POS B-NP *
estate NN I-NP *
on IN B-PP *
La NNP B-NP *
Gorce NNP I-NP *
Isle NNP I-NP *
off IN B-PP *
Miami NNP B-NP *
Beach NNP I-NP *S)
. . O *S)

Last JJ B-NP (S*
spring NN I-NP *
COMMA , O *
the DT B-NP *
comptroller NN I-NP *
's POS B-NP *
office NN I-NP *
called VBD B-VP *
a DT B-NP *
halt NN I-NP *
to TO B-PP *
Mr. NNP B-NP *
Paul NNP I-NP *
's POS B-NP *
fling NN I-NP *
COMMA , O *
giving VBG B-VP (S*
him PRP B-NP *
six CD B-NP *
months NNS I-NP *
to TO B-VP (S(S*
sell VB I-VP *
the DT B-NP *
paintings NNS I-NP *S)S)S)
. . O *S)

The DT B-NP (S*
acquisitions NNS I-NP *
COMMA , O *
officials NNS B-NP (S*
said VBD B-VP *
in IN B-PP *
a DT B-NP *
letter NN I-NP *
to TO B-PP *
Mr. NNP B-NP *
Paul NNP I-NP *S)
COMMA , O *
were VBD B-VP *
`` `` O *
unsafe JJ B-ADJP *
COMMA , I-ADJP *
unsound JJ I-ADJP *
and CC I-ADJP *
unauthorized JJ I-ADJP *
. . O *
'' '' O *S)

So RB B-ADVP (S(S*
far RB I-ADVP *
COMMA , O *
Mr. NNP B-NP *
Paul NNP I-NP *
has VBZ O *
unloaded VBN O *
but CC O *
three CD O *
of IN B-PP *
his PRP$ B-NP *
masterpieces NNS I-NP *S)
COMMA , O *
he PRP B-NP (S*
wo MD B-VP *
n't RB I-VP *
say VB I-VP *
to TO B-PP *
whom WP B-NP *S)
. . O *S)

The DT B-NP (S*
comptroller NN I-NP *
's POS B-NP *
office NN I-NP *
says VBZ B-VP *
it PRP B-NP (S(S*
is VBZ B-VP *
`` `` O *
monitoring VBG B-VP *
the DT B-NP *
situation NN I-NP *S)S)
. . O *
'' '' O *S)

Though IN B-PP (S(S*
the DT B-NP (S*
agency NN I-NP *
could MD B-VP *
remove VB I-VP *
Mr. NNP B-NP *
Paul NNP I-NP *S)S)
COMMA , O *
it PRP B-NP *
has VBZ B-VP *
no DT B-NP *
current JJ I-NP *
intention NN I-NP *
to TO B-VP (S*
do VB I-VP *
that DT B-NP *S)
. . O *S)

`` `` O (S*
It PRP B-NP (S*
's VBZ B-VP *
not RB O *
like IN B-PP *
selling VBG B-VP (S*
Chevrolets NNPS B-NP *S)S)
COMMA , O *
'' '' O *
Mr. NNP B-NP *
Paul NNP I-NP *
says VBZ B-VP *
COMMA , O *
as IN B-SBAR (S*
he PRP B-NP (S*
takes VBZ B-VP *
a DT B-NP *
drag NN I-NP *
on IN B-PP *
a DT B-NP *
goldbanded VBN I-NP *
St. NNP I-NP *
Moritz NNP I-NP *
cigarette NN I-NP *S)S)
. . O *S)

`` `` O (S*
The DT B-NP *
last JJ I-NP *
six CD I-NP *
months NNS I-NP *
has VBZ B-VP *
established VBN I-VP *
the DT B-NP *
quality NN I-NP *
of IN B-PP *
the DT B-NP *
collection NN I-NP *
. . O *S)

There EX B-NP (S*
's VBZ B-VP *
no DT B-NP *
fire NN I-NP *
sale NN I-NP *
here RB B-ADVP *
. . O *
'' '' O *S)

Despite IN B-SBAR (S*
Mr. NNP B-NP *
Paul NNP I-NP *
's POS B-NP *
characteristic JJ I-NP *
hauteur NN I-NP *
COMMA , O *
the DT B-NP *
50-year-old NN I-NP *
COMMA , O *
chain-smoking NN B-NP *
dynamo NN I-NP *
is VBZ B-VP *
finding VBG I-VP *
that IN B-SBAR (S*
getting VBG B-VP (S(S*
CenTrust NNP B-NP *
-- : O *
Florida NNP B-NP *
's POS B-NP *
largest JJS I-NP *
thrift NN I-NP *
institution NN I-NP *
-- : O *
out IN B-PP *
of IN B-PP *
its PRP$ B-NP *
riskiest JJS I-NP *
investments NNS I-NP *S)
is VBZ B-VP *
much RB B-ADJP *
tougher JJR I-ADJP *
than IN B-PP (S*
getting VBG B-VP (S(S*
into IN B-PP *
them PRP B-NP *S)
had VBD B-VP *
been VBN I-VP *S)S)S)S)
. . O *S)

Paintings NNS B-NP (S*
are VBP O *
just RB O *
part NN B-NP *
of IN B-PP *
the DT B-NP *
picture NN I-NP *
. . O *S)

Although IN B-SBAR (S(S*
Mr. NNP B-NP (S*
Paul NNP I-NP *
has VBZ B-VP *
pared VBN I-VP *
a DT B-NP *
$ $ I-NP *
1.35 CD I-NP *
billion CD I-NP *
junk-bond NN I-NP *
portfolio NN I-NP *
to TO O *
less JJR B-NP *
than IN I-NP *
$ $ I-NP *
900 CD I-NP *
million CD I-NP *
since IN B-PP *
April NNP B-NP *S)S)
COMMA , O *
the DT B-NP *
high-yield JJ I-NP *
debt NN I-NP *
market NN I-NP *
has VBZ B-VP *
plummeted VBN I-VP *
. . O *S)

Divesting VBG B-VP (S(S*
itself PRP B-NP *
of IN B-PP *
what WP B-NP (S*
is VBZ B-VP (S*
left VBN I-VP *S)S)S)
COMMA , O *
as IN O (S*
is VBZ B-VP (S*
required VBN I-VP *
of IN B-PP *
all DT B-NP *
thrift NN I-NP *
institutions NNS I-NP *
by IN B-PP *
July NNP B-NP *
1994 CD I-NP *
under IN B-PP *
the DT B-NP *
new JJ I-NP *
federal JJ I-NP *
S&L NNP I-NP *
bailout NN I-NP *
law NN I-NP *S)S)
COMMA , O *
may MD B-VP *
well RB I-VP *
prove VB I-VP *
difficult JJ B-ADJP *
. . O *S)

And CC O (S*
CenTrust NNP B-NP *
has VBZ B-VP *
other JJ B-NP *
problems NNS I-NP *
. . O *S)

Late RB O (S*
last JJ B-NP *
week NN I-NP *
federal JJ I-NP *
regulators NNS I-NP *
ordered VBD B-VP *
the DT B-NP *
thrift NN I-NP *
institution NN I-NP *
to TO B-VP (S*
stop VB I-VP *
paying VBG B-NP *
dividends NNS I-NP *
on IN B-PP *
its PRP$ B-NP *
preferred JJ I-NP *
stock NN I-NP *S)
-- : O *
a DT B-NP *
move NN I-NP *
that WDT B-NP (S*
suggests VBZ B-VP (S*
deep JJ B-NP *
concern NN I-NP *
about IN B-PP *
an DT B-NP *
institution NN I-NP *S)S)
. . O *S)

Mr. NNP B-NP (S(S*
Paul NNP I-NP *
has VBZ B-VP *
a DT B-NP *
plan NN I-NP *
to TO B-VP (S*
bring VB I-VP *
in IN O *
$ $ B-NP *
150 CD I-NP *
million CD I-NP *
by IN B-PP *
selling VBG B-VP (S*
off IN B-ADVP *
63 CD B-NP *
of IN B-PP *
CenTrust NNP B-NP *
's POS B-NP *
71 CD I-NP *
branches NNS I-NP *S)S)S)
COMMA , O *
but CC O *
it PRP B-NP (S*
has VBZ B-VP *
yet RB I-VP *
to TO I-VP *
be VB I-VP *
approved VBN I-VP *
by IN B-PP *
regulators NNS B-NP *S)
. . O *S)

It PRP B-NP (S*
is VBZ B-VP *
Mr. NNP B-NP *
Paul NNP I-NP *
's POS B-NP *
art NN I-NP *
venture NN I-NP *
COMMA , O *
however RB B-ADVP *
COMMA , O *
that WDT B-NP (S*
has VBZ B-VP (S*
drawn VBN I-VP *
the DT B-NP *
most RBS I-NP *
attention NN I-NP *
from IN B-PP *
investors NNS B-NP *
and CC I-NP *
regulators NNS I-NP *
COMMA , O *
not RB O *
to TO B-VP *
mention VB I-VP *
galleries NNS B-NP *
throughout IN B-PP *
the DT B-NP *
world NN I-NP *S)S)
. . O *S)

Embittered JJ B-NP (S*
shareholders NNS I-NP *
( -LRB- B-PP *
some DT B-NP *
of IN B-PP (S*
whom WP B-NP *
are VBP B-VP (S*
suing VBG I-VP *S)S)
) -RRB- B-NP *
say VBP B-VP *
the DT B-NP (S(S*
chairman NN I-NP *
and CC O *
his PRP$ B-NP *
collection NN I-NP *
epitomize VB B-VP *
the DT B-NP *
excesses NNS I-NP *
of IN B-PP *
speculation NN B-NP *
that WDT B-NP (S*
set VBD B-VP (S*
off IN B-PP *
the DT B-NP *
national JJ I-NP *
S&L NNP I-NP *
crisis NN I-NP *S)S)S)S)
. . O *S)

( -LRB- O (S*
CenTrust NNP B-NP *
shares NNS I-NP *
have VBP B-VP *
fallen VBN I-VP *
sharply RB B-ADVP *
in IN B-PP *
price NN B-NP *
from IN B-PP *
a DT B-NP *
high NN I-NP *
of IN B-PP *
$ $ B-NP *
15.125 CD I-NP *
in IN B-PP *
1986 CD B-NP *
to TO B-VP (S*
close VB I-VP *
yesterday NN B-NP *
at IN B-PP *
$ $ B-NP *
2.875 CD I-NP *S)
. . O *
) -RRB- O *S)

Gallery NN B-NP (S*
directors NNS I-NP *
COMMA , O *
meanwhile RB B-ADVP *
COMMA , O *
say VBP B-VP *
Mr. NNP B-NP (S(S*
Paul NNP I-NP *
and CC O *
others NNS B-NP *
of IN B-PP *
his PRP$ B-NP *
ilk NN I-NP *
have VBP B-VP *
left VBN I-VP *
an DT B-NP *
indelible JJ I-NP *
mark NN I-NP *
on IN B-PP *
the DT B-NP *
art NN I-NP *
world NN I-NP *
-- : O *
and CC O *
not RB O *
for IN B-PP *
the DT O *
better JJR O *S)S)
. . O *S)

Collectors NNS B-NP (S(S*
do VBP B-VP *
n't RB I-VP *
say VB I-VP *
`` `` O (S*
It PRP B-NP *
's VBZ B-VP *
a DT O *
van NNP O *
Gogh NNP O *
'' '' O *S)
anymore RB O *S)
COMMA , O *
laments VBZ B-VP *
Harry NNP B-NP *
Brooks NNP I-NP *
COMMA , O *
the DT B-NP *
president NN I-NP *
of IN B-PP *
Wildenstein NNP B-NP *
& CC I-NP *
Co. NNP I-NP *
COMMA , O *
a DT B-NP *
New NNP I-NP *
York NNP I-NP *
gallery NN I-NP *
. . O *S)

`` `` O (S*
They PRP B-NP *
say VBP B-VP *
COMMA , O *
` `` O (S*
Johnny NNP B-NP (S*
Payson NNP I-NP *
got VBD B-VP *
$ $ B-NP *
53 CD I-NP *
million CD I-NP *
for IN B-PP *
his PRP$ B-NP *S)
COMMA , O *
so RB B-ADVP *
certainly RB B-NP (S*
$ $ I-NP *
10 CD I-NP *
million CD I-NP *
is VBZ O *
n't RB O *
too RB B-ADVP *
much JJ I-ADVP *
for IN B-PP *
mine NN B-NP *S)S)
. . O *
' '' O *S)

The DT B-NP (S(S*
great JJ I-NP *
collectors NNS I-NP *
we PRP B-NP (S(S*
depended VBD B-VP *
on IN B-PP *S)S)
COMMA , O *
such JJ B-PP *
as IN I-PP *
Paul NNP B-NP *
Mellon NNP I-NP *
or CC O *
Norton NNP B-NP *
Simon NNP I-NP *
COMMA , O *
have VBP O *
stopped VBN O *
buying VBG O *S)
COMMA , O *
and CC O *
the DT B-NP (S*
new JJ I-NP *
buyers NNS I-NP *
are VBP B-VP *
brilliant JJ B-NP *
men NNS I-NP *
who WP B-NP (S*
made VBD B-VP (S*
money NN B-NP *
in IN B-PP *
the DT B-NP *
stock NN I-NP *
market NN I-NP *
or CC B-PP *
in IN B-PP *
takeovers NNS B-NP *
and CC O *
rushed VBD B-VP *
into IN B-PP *
collecting VBG B-VP *S)S)S)
... : O *
. . O *
'' '' O *S)

Mr. NNP B-NP (S*
Payson NNP I-NP *
COMMA , O *
an DT B-NP *
art NN I-NP *
dealer NN I-NP *
and CC I-NP *
collector NN I-NP *
COMMA , O *
sold VBN B-VP *
Vincent NNP B-NP *
van NNP I-NP *
Gogh NNP I-NP *
's POS B-NP *
`` `` I-NP *
Irises NNP I-NP *
'' '' O *
at IN B-PP *
a DT B-NP *
Sotheby NNP I-NP *
's POS B-NP *
auction NN I-NP *
in IN B-PP *
November NNP B-NP *
1987 CD I-NP *
to TO B-PP *
Australian JJ B-NP *
businessman NN I-NP *
Alan NNP I-NP *
Bond NNP I-NP *
. . O *S)

( -LRB- B-NP (S*
Trouble NN I-NP (S*
is VBZ B-VP *
COMMA , O *
Mr. NNP B-NP (S*
Bond NNP I-NP *
has VBZ B-VP *
yet RB I-VP *
to TO I-VP *
pay VB I-VP *
up IN B-ADVP *S)S)
COMMA , O *
and CC O *
until IN B-SBAR (S(S*
he PRP B-NP (S*
does VBZ B-VP *S)S)
COMMA , O *
Sotheby NNP B-NP *
's POS B-NP *
has VBZ B-VP *
the DT B-NP *
painting NN I-NP *
under IN B-PP *
lock NN O *
and CC O *
key JJ O *S)
. . O *
) -RRB- O *S)

When WRB B-ADVP (S(S*
Mr. NNP B-NP (S*
Paul NNP I-NP *
moved VBD B-VP *
in IN B-PRT *
on IN B-PP *
the DT B-NP *
art NN I-NP *
market NN I-NP *S)S)
COMMA , O *
he PRP B-NP *
let VBP B-VP *
it PRP B-NP *
be VBP B-VP *
known VBN I-VP *
that IN B-SBAR (S*
virtually RB B-NP (S*
no DT I-NP *
piece NN I-NP *
was VBD B-VP *
too RB O *
costly JJ O *
to TO B-VP (S(S*
be VB I-VP *
considered VBN I-VP *
by IN B-PP *
CenTrust NNP B-NP *S)S)S)S)
. . O *S)

He PRP B-NP (S*
established VBD B-VP *
his PRP$ B-NP *
reputation NN I-NP *
as IN B-PP *
a DT B-NP *
freespender NN I-NP *
in IN B-PP *
January NNP B-NP *
last JJ B-NP *
year NN I-NP *
at IN B-PP *
Sotheby NNP B-NP *
's POS B-NP *
auction NN I-NP *
of IN B-PP *
the DT B-NP *
Linda NNP I-NP *
and CC I-NP *
Gerald NNP I-NP *
Guterman NNP I-NP *
collection NN I-NP *
in IN B-PP *
New NNP B-NP *
York NNP I-NP *
. . O *S)

There RB B-ADVP (S*
COMMA , O *
on IN B-PP *
one CD B-NP *
of IN B-PP *
his PRP$ B-NP *
first JJ I-NP *
shopping NN I-NP *
trips NNS I-NP *
COMMA , O *
Mr. NNP B-NP *
Paul NNP I-NP *
picked VBD B-VP *
up IN B-PRT *
several JJ B-NP *
paintings NNS I-NP *
at IN B-PP *
stunning JJ B-NP *
prices NNS I-NP *
. . O *S)

He PRP B-NP (S*
paid VBD B-VP *
$ $ B-NP *
2.2 CD I-NP *
million CD I-NP *
COMMA , O *
for IN B-PP *
instance NN B-NP *
COMMA , O *
for IN B-PP *
a DT B-NP *
still JJ I-NP *
life NN I-NP *
by IN B-PP *
Jan NNP B-NP *
Jansz. NNP I-NP *
den NNP I-NP *
Uyl NNP I-NP *
that WDT B-NP (S*
was VBD B-VP (S*
expected VBN I-VP *
to TO I-VP *
fetch VB I-VP *
perhaps RB O *
$ $ B-NP *
700COMMA000 CD I-NP *S)S)
. . O *S)

The DT B-NP (S*
price NN I-NP *
paid VBN B-VP *
was VBD B-VP *
a DT B-NP *
record NN I-NP *
for IN B-PP *
the DT B-NP *
artist NN I-NP *
. . O *S)

( -LRB- O (S*
Some DT B-NP *
64 CD I-NP *
% NN I-NP *
of IN B-PP *
items NNS B-NP *
offered VBN B-VP *
at IN B-PP *
the DT B-NP *
Guterman NNP I-NP *
auction NN I-NP *
were VBD B-VP *
sold VBN I-VP *
COMMA , O *
at IN B-PP *
an DT B-NP *
average JJ I-NP *
price NN I-NP *
of IN B-PP *
$ $ B-NP *
343COMMA333 CD I-NP *
. . O *S)

The DT B-NP (S*
rest NN I-NP *
were VBD B-VP *
withdrawn VBN I-VP *
for IN B-PP *
lack NN B-NP *
of IN B-PP *
acceptable JJ B-NP *
bids NNS I-NP *
. . O *
) -RRB- O *S)

Afterward RB B-ADVP (S*
COMMA , O *
Mr. NNP B-NP *
Paul NNP I-NP *
is VBZ B-VP *
said VBD I-VP *
by IN B-PP *
Mr. NNP B-NP *
Guterman NNP I-NP *
to TO B-VP (S*
have VB I-VP *
phoned VBN I-VP *
Mr. NNP B-NP *
Guterman NNP I-NP *
COMMA , O *
the DT B-NP *
New NNP I-NP *
York NNP I-NP *
developer NN I-NP *
selling VBG B-VP *
the DT B-NP *
collection NN I-NP *
COMMA , O *
and CC O *
gloated VBD B-VP *S)
. . O *S)

`` `` O (S*
He PRP B-NP (S*
says VBZ B-VP *
he PRP B-NP (S(S*
` `` O *
stole VBD B-VP *
them PRP B-NP *S)S)S)
COMMA , O *
' '' O *
'' '' O *
recalls VBZ B-VP *
Mr. NNP B-NP *
Guterman NNP I-NP *
. . O *S)

`` `` O (S*
And CC O *
he PRP B-NP *
tells VBZ B-VP *
me PRP B-NP *
COMMA , O *
` `` O (S*
If IN B-SBAR (S*
you PRP B-NP (S*
want VBP B-VP *
to TO I-VP *
see VB I-VP *
your PRP$ B-NP *
paintings NNS I-NP *S)S)
COMMA , O *
you PRP B-NP *
'll MD B-VP *
have VB I-VP *
to TO I-VP *
come VB I-VP *
to TO B-PP *
my PRP$ B-NP *
house NN I-NP *
in IN B-PP *
Florida NNP B-NP *S)
. . O *
' '' O *
'' '' O *S)

Mr. NNP B-NP (S*
Paul NNP I-NP *
denies VBZ B-VP *
phoning VBG B-NP *
and CC I-NP *
gloating VBG I-NP *
. . O *S)

`` `` O (S*
It PRP B-NP (S*
's VBZ B-VP *
just RB O *
not RB B-ADJP *
true JJ I-ADJP *S)
COMMA , O *
'' '' O *
he PRP B-NP *
says VBZ B-VP *
. . O *S)

Mr. NNP B-NP (S*
Paul NNP I-NP *
quickly RB B-ADVP *
became VBD B-VP *
more RBR B-ADJP *
aggressive JJ I-ADJP *
in IN B-PP *
his PRP$ B-NP *
collecting NN I-NP *
COMMA , O *
with IN B-PP *
the DT B-NP *
help NN I-NP *
of IN B-PP *
George NNP B-NP *
Wachter NNP I-NP *
COMMA , O *
a DT B-NP *
Sotheby NNP I-NP *
's POS B-NP *
expert NN I-NP *
in IN B-PP *
old JJ B-NP *
masters NNS I-NP *
whom WP B-NP (S*
he PRP B-NP (S*
met VBD B-VP *
at IN B-PP *
an DT B-NP *
exhibition NN I-NP *
of IN B-PP *
the DT B-NP *
Guterman NNP I-NP *
items NNS I-NP *S)S)
. . O *S)

Mr. NNP B-NP (S*
Wachter NNP I-NP *
COMMA , O *
who WP B-NP (S*
became VBD B-VP (S*
his PRP$ B-NP *
principal JJ I-NP *
adviser NN I-NP *S)S)
COMMA , O *
searched VBD B-VP *
galleries NNS B-NP *
in IN B-PP *
London NNP B-NP *
COMMA , I-NP *
Paris NNP I-NP *
and CC I-NP *
Monaco NNP I-NP *
. . O *S)

And CC O (S*
COMMA , O *
according VBG B-PP *
to TO B-PP *
one CD B-NP *
dealer NN I-NP *
COMMA , O *
Mr. NNP B-NP *
Wachter NNP I-NP *
had VBD B-VP *
a DT B-NP *
penchant NN I-NP *
for IN B-PP *
introducing VBG B-VP (S*
Mr. NNP B-NP *
Paul NNP I-NP *
with IN B-PP *
the DT B-NP *
phrase NN I-NP *
: : O *
`` `` O (S*
He PRP B-NP *
can MD B-VP *
buy VB I-VP *
anything NN B-NP *S)S)
. . O *
'' '' O *S)

Nicholas NNP B-NP (S*
Hall NNP I-NP *
COMMA , O *
the DT B-NP *
president NN I-NP *
of IN B-PP *
the DT B-NP *
Colnaghi NNP I-NP *
U.S.A. NNP I-NP *
Ltd. NNP I-NP *
gallery NN I-NP *
in IN B-PP *
New NNP B-NP *
York NNP I-NP *
COMMA , O *
sold VBN B-VP *
Mr. NNP B-NP *
Paul NNP I-NP *
`` `` I-NP *
Abraham NNP I-NP *
and CC I-NP *
Sarah NNP I-NP *
in IN B-PP *
the DT B-NP *
Wilderness NN I-NP *
'' '' O *
by IN B-PP *
Giovanni NNP B-NP *
Battista NNP I-NP *
Tiepolo NNP I-NP *
. . O *S)

Mr. NNP B-NP (S*
Hall NNP I-NP *
says VBZ B-VP *
Mr. NNP B-NP (S(S*
Paul NNP I-NP *
`` `` O *
was VBD B-VP *
known VBN I-VP *
to TO I-VP *
spend VB I-VP *
a DT B-NP *
lot NN I-NP *
of IN B-PP *
money NN B-NP *S)S)
. . O *S)

People NNS B-NP (S(S*
were VBD B-VP *
interested JJ B-ADJP *
in IN B-PP *
seeing VBG B-VP (S*
him PRP B-NP *S)S)
COMMA , O *
but CC O *
it PRP B-NP (S*
was VBD B-VP *
recognized VBN I-VP *
that IN B-SBAR (S*
the DT B-NP (S*
route NN I-NP *
was VBD B-VP *
through IN B-PP *
Sotheby NNP B-NP *
's POS B-NP *
and CC O *
particularly RB O *
George NNP B-NP *
Wachter NNP I-NP *S)S)S)
. . O *
'' '' O *S)

Mr. NNP B-NP (S*
Paul NNP I-NP *
thus RB B-ADVP *
developed VBD B-VP *
a DT B-NP *
close NN I-NP *
COMMA , I-NP *
symbiotic JJ I-NP *
relationship NN I-NP *
with IN B-PP *
Sotheby NNP B-NP *
's POS B-NP *
. . O *S)

Mr. NNP B-NP (S*
Paul NNP I-NP *
was VBD B-VP *
eager JJ B-ADJP *
to TO B-VP (S*
assemble VB I-VP *
a DT B-NP *
collection NN I-NP *
for IN B-PP *
the DT B-NP *
headquarters NN I-NP *
CenTrust NNP B-NP (S(S*
has VBZ B-VP *
been VBN I-VP *
moving VBG I-VP *
into IN B-PP *
for IN B-PP *
the DT B-NP *
greater JJR I-NP *
part NN I-NP *
of IN B-PP *
a DT B-NP *
year NN I-NP *S)S)S)
. . O *S)

Sotheby NNP B-NP (S*
's POS B-NP *
COMMA , O *
the DT B-NP *
auction NN I-NP *
house NN I-NP *
founded VBN B-VP *
in IN B-PP *
London NNP B-NP *
1744 CD I-NP *
and CC O *
now RB B-ADVP *
under IN B-PP *
the DT B-NP *
umbrella NN I-NP *
of IN B-PP *
Sotheby NNP B-NP *
's POS B-NP *
Holdings NNP I-NP *
Inc. NNP I-NP *
COMMA , O *
was VBD B-VP *
hoping VBG I-VP *
to TO I-VP *
stir VB I-VP *
up IN B-PRT *
interest NN B-NP *
in IN B-PP *
old JJ B-NP *
masters NNS I-NP *
as IN B-SBAR (S*
it PRP B-NP (S*
strove VBD B-VP *
to TO I-VP *
build VB I-VP *
its PRP$ B-NP *
U.S. NNP I-NP *
business NN I-NP *S)S)
. . O *S)

European JJ B-NP (S*
dealers NNS I-NP *
continued VBD B-VP *
to TO I-VP *
dominate VB I-VP *
the DT B-NP *
action NN I-NP *
in IN B-PP *
old JJ B-NP *
masters NNS I-NP *
COMMA , O *
which WDT B-NP (S*
Sotheby NNP B-NP (S*
's POS B-NP *
North NNP I-NP *
America NNP I-NP *
had VBD B-VP *
lately RB I-VP *
been VBN I-VP *
touting VBG I-VP *
in IN B-PP *
this DT B-NP *
country NN I-NP *S)S)
. . O *S)

For IN B-PP (S*
several JJ B-NP *
months NNS I-NP *
COMMA , O *
there EX B-NP *
was VBD B-VP *
optimism NN B-NP *
all DT O *
around RB O *
. . O *S)

Last NNP B-NP (S*
October NNP I-NP *
COMMA , O *
Mr. NNP B-NP *
Paul NNP I-NP *
paid VBD B-VP *
out IN B-PP *
$ $ B-NP *
12 CD I-NP *
million CD I-NP *
of IN B-PP *
CenTrust NNP B-NP *
's POS B-NP *
cash NN I-NP *
-- : O *
plus CC O *
a DT B-NP *
$ $ I-NP *
1.2 CD I-NP *
million CD I-NP *
commission NN I-NP *
-- : O *
for IN B-PP *
`` `` O *
Portrait NN B-NP *
of IN B-PP *
a DT B-NP *
Man NN I-NP *
as IN B-PP *
Mars NNP B-NP *
. . O *
'' '' O *S)

The DT B-NP (S*
painting NN I-NP *
COMMA , O *
attributed VBD B-VP *
to TO B-PP *
Flemish NNP B-NP *
artist NN I-NP *
Peter NNP I-NP *
Paul NNP I-NP *
Rubens NNP I-NP *
COMMA , O *
was VBD B-VP *
purchased VBN I-VP *
privately RB B-ADVP *
through IN B-PP *
Sotheby NNP B-NP *
's POS B-NP *
COMMA , O *
not RB O *
at IN B-PP *
auction NN B-NP *
. . O *S)

In IN B-PP (S*
March NNP B-NP *
1989 CD I-NP *
COMMA , O *
just RB B-NP *
15 CD I-NP *
months NNS I-NP *
into IN B-PP *
his PRP$ B-NP *
campaign NN I-NP *
COMMA , O *
Mr. NNP B-NP *
Paul NNP I-NP *
was VBD B-VP *
named VBN I-VP *
by IN B-PP *
Art NNP B-NP *
& CC I-NP *
Antiques NNPS I-NP *
magazine NN I-NP *
as IN B-PP *
one CD B-NP *
of IN B-PP *
the DT B-NP *
top JJ I-NP *
100 CD I-NP *
individual JJ I-NP *
collectors NNS I-NP *
in IN B-PP *
the DT B-NP *
U.S. NNP I-NP *
. . O *S)

`` `` O (S*
An DT B-NP (S(S*
unknown JJ I-NP *
quantity NN I-NP *
to TO B-PP *
most RBS B-NP *
of IN B-PP *
the DT B-NP *
art NN I-NP *
world NN I-NP *S)
COMMA , O *
Paul NNP B-NP *
is VBZ B-VP *
no DT B-NP *
stranger NN I-NP *
to TO B-PP *
lavish JJ B-NP *
spending NN I-NP *S)
COMMA , O *
'' '' O *
the DT B-NP *
magazine NN I-NP *
said VBD B-VP *
COMMA , O *
noting VBG B-VP (S*
that IN B-SBAR (S*
he PRP B-NP (S*
does VBZ B-VP *
n't RB I-VP *
stop VB I-VP *
at IN B-PP *
paint NN B-NP *
on IN B-PP *
canvas NN B-NP *
but CC O *
also RB O *
spends VBZ B-VP *
big JJ O *
on IN B-PP *
art NN B-NP *
you PRP B-NP (S(S*
can MD B-VP *
eat VB I-VP *S)S)S)S)S)
. . O *S)

`` `` O (S*
He PRP B-NP (S*
recently RB B-ADVP *
bid VBP B-VP *
$ $ B-NP *
30COMMA000 CD I-NP *
at IN B-PP *
a DT B-NP *
Paris NNP I-NP *
charity NN I-NP *
auction NN I-NP *
for IN B-PP *
a DT B-NP *
dinner NN I-NP *
cooked VBN B-VP *
by IN B-PP *
six CD B-NP *
of IN B-PP *
the DT B-NP *
world NN I-NP *
's POS B-NP *
great JJ I-NP *
chefs NNS I-NP *S)
COMMA , O *
but CC O *
the DT B-NP (S*
final JJ I-NP *
party NN I-NP *
cost NN I-NP *
closer JJR B-ADVP *
to TO B-PP *
$ $ B-NP *
100COMMA000 CD I-NP *S)
. . O *
'' '' O *S)

( -LRB- O (S*
Mr. NNP B-NP *
Paul NNP I-NP *
says VBZ B-VP *
it PRP B-NP (S(S*
was VBD B-VP *
n't RB O *
that IN B-PP *
high NN B-NP *S)S)
. . O *
) -RRB- O *S)

The DT B-NP (S*
art NN I-NP *
collection NN I-NP *
might MD B-VP *
have VB I-VP *
come VBN I-VP *
to TO I-VP *
rival VB I-VP *
the DT B-NP *
Medicis NNPS I-NP *
' POS O *
had VBD B-VP (S(S*
the DT B-NP *
Florida NNP I-NP *
comptroller NN I-NP *
's POS B-NP *
office NN I-NP *
not RB O *
got VBD B-VP *
wind NN B-NP *
of IN B-PP *
Mr. NNP B-NP *
Paul NNP I-NP *
's POS B-NP *
aesthetic JJ I-NP *
adventure NN I-NP *S)S)
. . O *S)

In IN B-PP (S*
its PRP$ B-NP *
letter NN I-NP *
to TO B-PP *
him PRP B-NP *
COMMA , O *
dated VBN B-VP *
March NNP B-NP *
2 CD I-NP *
and CC O *
shared VBN B-VP *
with IN B-PP *
reporters NNS B-NP *
COMMA , O *
Alex NNP B-NP *
Hager NNP I-NP *
COMMA , O *
the DT B-NP *
chief NN I-NP *
of IN B-PP *
the DT B-NP *
thrift-institution NN I-NP *
bureau NN I-NP *
in IN B-PP *
the DT B-NP *
comptroller NN I-NP *
's POS B-NP *
office NN I-NP *
COMMA , O *
expressed VBN O *
puzzlement NN O *
that IN B-SBAR (S*
the DT B-NP (S*
S&L NNP I-NP *
could MD B-VP *
be VB I-VP *
so RB B-ADJP *
profligate JJ I-ADJP *
when WRB B-ADVP (S*
it PRP B-NP (S*
had VBD O *
reported VBN O *
losses NNS O *
of IN B-PP *
more JJR B-NP *
than IN I-NP *
$ $ I-NP *
13 CD I-NP *
million CD I-NP *
in IN B-PP *
its PRP$ B-NP *
two CD I-NP *
preceding VBG I-NP *
quarters NNS I-NP *S)S)S)S)
. . O *S)

The DT B-NP (S*
state NN I-NP *
gave VBD B-VP *
CenTrust NNP B-NP *
30 CD I-NP *
days NNS I-NP *
to TO B-VP (S(S*
sell VB I-VP *
the DT B-NP *
Rubens NNP I-NP *S)S)
. . O *S)

The DT B-NP (S*
comptroller NN I-NP *
's POS B-NP *
office NN I-NP *
eventually RB B-ADVP *
extended VBD B-VP *
the DT B-NP *
deadline NN I-NP *
to TO B-PP *
six CD B-NP *
months NNS I-NP *
but CC O *
broadened VBN B-VP *
its PRP$ B-NP *
demands NNS I-NP *
COMMA , O *
ordering VBG B-VP (S*
that IN B-SBAR (S*
the DT B-NP (S*
`` `` I-NP *
book NN I-NP *
value NN I-NP *
of IN B-PP *
the DT B-NP *
collection NN I-NP *
{ -LRB- B-VP *
be VB I-VP *
} -RRB- O *
reduced VBN O *
to TO B-PP *
zero CD B-NP *S)S)S)
. . O *
'' '' O *S)

In IN B-PP (S*
other JJ B-NP *
words NNS I-NP *
: : O *
Get VB B-VP *
rid JJ B-ADJP *
of IN B-PP *
all PDT B-NP *
the DT I-NP *
pictures NNS I-NP *
. . O *S)

The DT B-NP (S*
state NN I-NP *
obliquely RB B-ADVP *
noted VBD B-VP *
that IN O (S*
unsafe JJ B-NP (S*
banking NN I-NP *
practices NNS I-NP *
are VBP B-VP *
grounds NNS B-NP *
for IN B-PP *
removing VBG B-VP (S*
an DT B-NP *
officer NN I-NP *
or CC I-NP *
director NN I-NP *S)S)S)
and CC O *
closed VBD B-VP *
with IN B-PP *
the DT B-NP *
admonition NN I-NP *
to TO B-PP *
Mr. NNP B-NP *
Paul NNP I-NP *
: : O *
`` `` O (S*
Govern VB B-VP *
yourself PRP B-NP *
accordingly RB B-ADVP *S)
. . O *
'' '' O *S)

The DT B-NP (S*
state NN I-NP *
agency NN I-NP *
was VBD B-VP *
particularly RB I-VP *
vexed VBN I-VP *
to TO I-VP *
learn VB I-VP *
that IN B-SBAR (S*
the DT B-NP (S*
Rubens NNP I-NP *
and CC O *
a DT B-NP *
half-dozen NN I-NP *
other JJ B-NP *
paintings NNS I-NP *
listed VBN B-VP *
among IN B-PP *
the DT B-NP *
bank NN I-NP *
's POS B-NP *
`` `` I-NP *
furniture NN I-NP *
and CC I-NP *
fixtures NNS I-NP *
COMMA , O *
'' '' O *
were VBD B-VP *
actually RB I-VP *
hanging VBG I-VP *
in IN B-PP *
the DT B-NP *
chairman NN I-NP *
's POS B-NP *
house NN I-NP *S)S)
. . O *S)

Mr. NNP B-NP (S*
Paul NNP I-NP *
says VBZ B-VP *
that IN B-SBAR (S(S*
at IN B-PP (S*
one CD B-NP *
point NN I-NP *
he PRP B-NP *
did VBD B-VP *
indeed RB O *
have VBP O *
eight CD B-NP *
or CC O *
nine CD B-NP *
of IN B-PP *
the DT B-NP *
paintings NNS I-NP *
at IN B-PP *
home NN B-NP *S)S)
and CC O *
that IN B-SBAR (S*
the DT B-NP (S*
rest NN I-NP *
were VBD B-VP *
in IN B-PP *
storage NN B-NP *
at IN B-PP *
Sotheby NNP B-NP *
's POS B-NP *S)S)S)
. . O *S)

He PRP B-NP (S*
explains VBZ B-VP *
that IN B-SBAR (S*
he PRP B-NP (S*
was VBD B-VP *
`` `` O *
merely RB O *
storing VBG O *
the DT B-NP *
paintings NNS I-NP *
at IN B-PP *
home NN B-NP *
-- : O *
with IN B-PP *
some DT B-NP *
display NN I-NP *
-- : O *
because IN B-PP *
of IN I-PP *
the DT B-NP *
special JJ I-NP *
dehumidified VBN I-NP *
environment NN I-NP *
'' '' O *
required VBN B-VP *
for IN B-PP *
their PRP$ B-NP *
safekeeping NN I-NP *
COMMA , O *
until IN B-PP (S*
CenTrust NNP B-NP (S*
's POS B-NP *
new JJ I-NP *
building NN I-NP *
was VBD B-VP *
ready JJ B-ADJP *
for IN B-PP *
them PRP B-NP *S)S)S)S)
. . O *S)

Still RB B-ADVP (S*
COMMA , O *
the DT B-NP *
incident NN I-NP *
was VBD B-VP *
embarrassing JJ B-ADJP *
. . O *S)

It PRP B-NP (S*
came VBD B-VP *
on IN B-PP *
the DT B-NP *
heels NNS I-NP *
of IN B-PP *
a DT B-NP *
number NN I-NP *
of IN B-PP *
local JJ B-NP *
newspaper NN I-NP *
articles NNS I-NP *
suggesting VBG B-VP *
that IN B-SBAR (S*
Mr. NNP B-NP (S*
Paul NNP I-NP *
has VBZ B-VP *
benefited VBN I-VP *
handsomely RB B-ADVP *
from IN B-PP *
his PRP$ B-NP *
association NN I-NP *
with IN B-PP *
CenTrust NNP B-NP *S)S)
. . O *S)

For IN B-PP (S*
instance NN B-NP *
COMMA , O *
he PRP B-NP *
got VBD B-VP *
a DT B-NP *
$ $ I-NP *
3 CD I-NP *
million CD I-NP *
loan NN I-NP *
from IN B-PP *
the DT B-NP *
S&L NNP I-NP *
COMMA , O *
negotiated VBN B-VP *
at IN B-PP *
a DT B-NP *
below-market JJ I-NP *
rate NN I-NP *
. . O *S)

He PRP B-NP (S*
owns VBZ B-VP *
43 CD B-NP *
% NN I-NP *
of IN B-PP *
CenTrust NNP B-NP *
's POS B-NP *
shares NNS I-NP *
. . O *S)

Adding VBG B-VP (S(S*
to TO B-PP *
Mr. NNP B-NP *
Paul NNP I-NP *
's POS B-NP *
problems NNS I-NP *S)
COMMA , O *
dealers NNS B-NP *
( -LRB- O *
some DT B-NP *
with IN B-PP *
vested VBN B-NP *
interests NNS I-NP *
) -RRB- B-NP *
insist VBP B-VP *
that IN B-SBAR (S*
he PRP B-NP (S*
COMMA , O *
relying VBG B-VP *
rather RB B-ADVP *
too RB O *
heavily RB O *
on IN B-PP *
Sotheby NNP B-NP *
's POS B-NP *
advice NN I-NP *
COMMA , O *
paid VBN B-VP *
much JJ B-ADVP *
too RB O *
much JJ O *
for IN B-PP *
several JJ B-NP *
pieces NNS I-NP *
in IN B-PP *
the DT B-NP *
CenTrust NNP I-NP *
collection NN I-NP *S)S)
. . O *S)

The DT O (S*
$ $ O *
12 CD O *
million CD O *
lavished VBD O *
on IN B-PP *
the DT B-NP *
Rubens NNP I-NP *
COMMA , O *
for IN B-PP *
example NN B-NP *
COMMA , O *
was VBD B-VP *
a DT B-NP *
record NN I-NP *
price NN I-NP *
for IN B-PP *
the DT B-NP *
artist NN I-NP *
and CC O *
maybe RB O *
twice RB O *
its PRP$ B-NP *
value NN I-NP *
COMMA , O *
given VBN O *
a DT B-NP *
dispute NN I-NP *
among IN B-PP *
scholars NNS B-NP *
about IN B-PP *
its PRP$ B-NP *
provenance NN I-NP *
. . O *S)

David NNP B-NP (S*
Tunick NNP I-NP *
COMMA , O *
the DT B-NP *
president NN I-NP *
of IN B-PP *
David NNP B-NP *
Tunick NNP I-NP *
Inc. NNP I-NP *
COMMA , O *
a DT B-NP *
New NNP I-NP *
York NNP I-NP *
gallery NN I-NP *
COMMA , O *
says VBZ B-VP *
scholars NNS B-NP (S(S*
question VBP B-VP *
the DT B-NP *
authenticity NN I-NP *
of IN B-PP *
the DT B-NP *
Rubens NNP I-NP *S)S)
. . O *S)

It PRP B-NP (S*
may MD B-VP *
have VB I-VP *
been VBN I-VP *
painted VBN I-VP *
instead RB B-ADVP *
by IN B-PP *
a DT B-NP *
Rubens NNP I-NP *
associate JJ I-NP *
. . O *S)

`` `` O (S*
The DT B-NP (S*
feeling NN I-NP *
among IN B-PP *
many JJ B-NP *
experts NNS I-NP *
on IN B-PP *
the DT B-NP *
commercial JJ I-NP *
side NN I-NP *
is VBZ B-VP *
that IN B-SBAR (S*
the DT B-NP (S*
price NN I-NP *
paid VBN B-VP *
at IN B-PP *
the DT B-NP *
time NN I-NP *
was VBD B-VP *
excessive JJ B-ADJP *
in IN B-PP *
any DT B-NP *
event NN I-NP *S)S)S)
COMMA , O *
'' '' O *
Mr. NNP B-NP *
Tunick NNP I-NP *
says VBZ B-VP *
. . O *S)

`` `` O (S*
It PRP B-NP *
sounds VBZ B-VP *
like IN B-PP (S*
with IN B-PP (S*
the DT B-NP *
Rubens NNP I-NP *
he PRP B-NP *
got VBD B-VP *
absolutely RB I-VP *
taken VBN I-VP *
to TO B-PP *
the DT B-NP *
cleaners NNS I-NP *S)S)
. . O *
'' '' O *S)

Victor NNP B-NP (S*
Wiener NNP I-NP *
COMMA , O *
the DT B-NP *
executive JJ I-NP *
director NN I-NP *
of IN B-PP *
the DT B-NP *
Appraisers NNPS I-NP *
Association NNP I-NP *
of IN B-PP *
America NNP B-NP *
COMMA , O *
agrees VBZ B-VP *
that IN B-SBAR (S*
Mr. NNP B-NP (S*
Paul NNP I-NP *
paid VBD O *
very RB O *
dearly RB O *
for IN B-PP *
the DT B-NP *
Rubens NNP I-NP *S)S)
and CC O *
adds VBZ B-VP *
that IN B-SBAR (S*
getting VBG B-VP (S(S*
rid JJ B-ADJP *
of IN B-PP *
it PRP B-NP *
any DT B-NP *
time NN I-NP *
soon RB B-ADVP *
for IN B-PP *
a DT B-NP *
similar JJ I-NP *
sum NN I-NP *S)
would MD B-VP *
be VB I-VP *
quite RB O *
a DT B-NP *
feat NN I-NP *S)S)
. . O *S)

`` `` O (S*
It PRP B-NP (S*
's VBZ B-VP *
not RB O *
beyond IN B-PP *
credibility NN B-NP *
the DT B-NP (S(S*
Rubens NNP I-NP *
will MD B-VP *
someday RB I-VP *
be VB I-VP *
worth JJ B-ADJP *
$ $ B-NP *
12 CD I-NP *
million CD I-NP *S)S)S)
COMMA , O *
but CC O *
whether IN B-SBAR (S(S*
it PRP B-NP (S*
could MD B-VP *
be VB I-VP *
sold VBN I-VP *
for IN B-PP *
that DT B-NP *
amount NN I-NP *
tomorrow NN I-NP *S)S)
remains VBZ B-VP *
to TO I-VP *
be VB I-VP *
seen VBN I-VP *S)
. . O *
'' '' O *S)

Still RB B-ADVP (S*
COMMA , O *
predicting VBG B-VP *
is VBZ B-VP *
tricky JJ B-ADJP *
. . O *S)

`` `` O (S*
I PRP B-NP *
'm VBP B-VP *
forever RB O *
dumbfounded JJ O *
by IN B-PP *
what WP B-NP (S*
I PRP B-NP (S*
see VBP B-VP *
making VBG I-VP *
these DT B-NP *
high JJ I-NP *
prices NNS I-NP *S)S)
. . O *
'' '' O *S)

Jonathan NNP B-NP (S*
H. NNP I-NP *
Kress NNP I-NP *
COMMA , O *
the DT B-NP *
son NN I-NP *
of IN B-PP *
the DT B-NP *
painting NN I-NP *
's POS B-NP *
former JJ I-NP *
owner NN I-NP *
COMMA , O *
Mrs. NNP B-NP *
Rush NNP I-NP *
Kress NNP I-NP *
COMMA , O *
dismisses VBZ B-VP *
the DT B-NP *
price NN I-NP *
talk NN I-NP *
as IN B-PP *
`` `` O *
sour JJ B-NP *
grapes NNS I-NP *
. . O *
'' '' O *S)

Dealers NNS B-NP (S*
contemptuous JJ B-NP *
of IN B-PP *
the DT B-NP *
purchase NN I-NP *
price NN I-NP *
COMMA , O *
he PRP B-NP (S*
says VBZ B-VP *S)
COMMA , O *
were VBD B-VP *
themselves PRP B-NP *
interested JJ B-ADJP *
in IN B-PP *
buying VBG B-VP (S*
the DT B-NP *
Rubens NNP I-NP *S)
but CC O *
lost VBD B-VP *
out RB B-PRT *
. . O *S)

Mr. NNP B-NP (S*
Paul NNP I-NP *
COMMA , O *
for IN B-PP *
his PRP$ B-NP *
part NN I-NP *
COMMA , O *
defends VBZ B-VP *
the DT B-NP *
Rubens NNP I-NP *
price NN I-NP *
COMMA , O *
saying VBG B-VP (S*
a DT B-NP (S(S*
lot NN I-NP *
of IN B-PP *
the DT B-NP *
experts NNS I-NP *
have VBP B-VP *
never RB I-VP *
seen VBN I-VP *
the DT B-NP *
thing NN I-NP *
itself PRP B-NP *S)S)S)
. . O *S)

`` `` O (S*
Most JJS B-NP (S*
of IN B-PP *
them PRP B-NP *
were VBD B-VP *
n't RB I-VP *
even RB I-VP *
born VBN I-VP *
the DT B-NP *
last JJ I-NP *
time NN I-NP *
the DT B-NP (S(S*
painting NN I-NP *
was VBD B-VP *
displayed VBN I-VP *
publicly RB B-ADVP *S)S)S)
COMMA , O *
'' '' O *
he PRP B-NP *
says VBZ B-VP *
. . O *S)

Art NN B-NP (S(S*
prices NNS I-NP *
are VBP B-VP *
skyrocketing VBG I-VP *S)
COMMA , O *
but CC O *
a DT B-NP (S*
good JJ I-NP *
deal NN I-NP *
of IN B-PP *
legerdemain NN B-NP *
is VBZ B-VP *
involved VBN I-VP *
in IN B-PP *
compiling VBG B-VP (S*
statistics NNS B-NP *
on IN B-PP *
sales NNS B-NP *S)S)
. . O *S)

Salomon NNP B-NP (S*
Brothers NNP I-NP *
Inc. NNP I-NP *
COMMA , O *
the DT B-NP *
investment-banking NN I-NP *
firm NN I-NP *
COMMA , O *
in IN B-PP *
its PRP$ B-NP *
annual JJ I-NP *
tally NN I-NP *
of IN B-PP *
investment NN B-NP *
returns NNS I-NP *
COMMA , O *
reported VBD B-VP *
that IN B-SBAR (S*
old JJ B-NP (S*
masters NNS I-NP *
appreciated VBN B-VP *
51 CD B-NP *
% NN I-NP *
in IN B-PP *
the DT B-NP *
year NN I-NP *
ended VBN B-VP *
June NNP B-NP *
1 CD I-NP *
COMMA , O *
the DT B-NP *
greatest JJS I-NP *
return NN I-NP *
of IN B-PP *
any DT B-NP *
of IN B-PP *
13 CD B-NP *
assets NNS I-NP *
it PRP B-NP (S(S*
tracked VBD B-VP *S)S)S)S)
. . O *S)

( -LRB- O (S*
Impressionist JJ B-NP *
and CC I-NP *
modern JJ I-NP *
paintings NNS I-NP *
COMMA , O *
not RB B-VP *
tracked VBN I-VP *
by IN B-PP *
Salomon NNP B-NP *
COMMA , O *
are VBP B-VP *
ranked VBN I-VP *
even RB O *
higher JJR O *
at IN B-PP *
74 CD B-NP *
% NN I-NP *
by IN B-PP *
Sotheby NNP B-NP *
's POS B-NP *
. . O *
) -RRB- O *S)

Salomon NNP B-NP (S*
COMMA , O *
moreover RB B-ADVP *
COMMA , O *
gets VBZ B-VP *
its PRP$ B-NP *
data NNS I-NP *
on IN B-PP *
art NN B-NP *
appreciation NN I-NP *
from IN B-PP *
Sotheby NNP B-NP *
's POS B-NP *
COMMA , O *
whose WP$ B-NP (S*
prices NNS I-NP *
go VBP B-VP (S*
up IN O *
with IN B-PP *
clients NNS B-NP *
like IN B-PP *
Mr. NNP B-NP *
Paul NNP I-NP *
in IN B-PP *
its PRP$ B-NP *
thrall NN I-NP *S)S)
. . O *S)

The DT B-NP (S*
percentages NNS I-NP *
omit VBP B-VP *
from IN B-PP *
consideration NN B-NP *
the DT B-NP *
many JJ I-NP *
paintings NNS I-NP *
that WDT B-NP (S*
go VBP B-VP (S*
begging VBG I-VP *
at IN B-PP *
auction NN B-NP *S)S)
. . O *S)

Art NN B-NP (S*
indexes NNS I-NP *
track VBP B-VP *
winners NNS B-NP *
COMMA , O *
not RB O *
losers NNS O *
. . O *S)

But CC O (S*
art NN B-NP *
that WDT B-NP (S*
has VBZ B-VP (S*
fallen VBN I-VP *
sharply RB B-ADVP *
in IN B-PP *
value NN B-NP *S)S)
is VBZ B-VP *
rarely RB I-VP *
put VB I-VP *
up IN B-PRT *
for IN B-PP *
sale NN B-NP *
. . O *S)

Also RB B-ADVP (S*
COMMA , O *
at IN B-PP *
any DT B-NP *
of IN B-PP *
Sotheby NNP B-NP *
's POS B-NP *
auctions NNS I-NP *
of IN B-PP *
old JJ B-NP *
masters NNS I-NP *
COMMA , O *
roughly RB B-NP *
one-third NN I-NP *
to TO B-PP *
one-fifth NN B-NP *
of IN B-PP (S*
what WP B-NP *
is VBZ B-VP (S*
offered VBN I-VP *S)S)
does VBZ B-VP *
n't RB I-VP *
sell VB I-VP *
at IN B-PP *
any DT B-NP *
price NN I-NP *
. . O *S)

It PRP B-NP (S(S*
's VBZ B-VP *
not RB B-ADVP *
that IN B-SBAR (S*
there EX B-NP (S*
are VBP B-VP *
n't RB O *
any DT B-NP *
bids NNS I-NP *S)S)S)
COMMA , O *
but CC O *
the DT B-NP (S*
bids NNS I-NP *
do VBP B-VP *
n't RB I-VP *
meet VB I-VP *
the DT B-NP *
minimum JJ I-NP *
`` `` I-NP *
reserve NN I-NP *
'' '' I-NP *
prices NNS I-NP *
set VBN B-VP *
by IN B-PP *
the DT B-NP *
sellers NNS I-NP *S)
. . O *S)

In IN B-PP (S*
January NNP B-NP *
COMMA , O *
the DT B-NP *
Preti NNP I-NP *
painting NN I-NP *
that WDT B-NP (S*
now RB B-ADVP (S*
hangs VBZ B-VP *
at IN B-PP *
CenTrust NNP B-NP *S)S)
was VBD B-VP *
expected VBN I-VP *
to TO I-VP *
bring VB I-VP *
no DT B-NP *
more JJR I-NP *
than IN I-NP *
$ $ I-NP *
700COMMA000 CD I-NP *
at IN B-PP *
auction NN B-NP *
until IN B-PP (S*
Mr. NNP B-NP (S*
Paul NNP I-NP *
came VBD B-VP *
along IN B-PP *
with IN B-PP *
his PRP$ B-NP *
$ $ I-NP *
1.15 CD I-NP *
million CD I-NP *S)S)
. . O *S)

Mr. NNP B-NP (S*
Hall NNP I-NP *
of IN B-PP *
the DT B-NP *
Colnaghi NNP I-NP *
gallery NN I-NP *
says VBZ B-VP *
$ $ B-NP (S(S*
1.15 CD I-NP *
million CD I-NP *
`` `` O *
would MD B-VP *
have VB I-VP *
been VBN I-VP *
an DT B-NP *
impossible JJ I-NP *
price NN I-NP *
for IN B-PP (S*
anyone NN B-NP (S*
to TO B-VP *
ask VB I-VP *
for IN B-PP *
a DT B-NP *
Preti NNP I-NP *
four CD B-NP *
years NNS I-NP *
ago RB B-ADVP *S)S)S)S)
. . O *
'' '' O *S)

But CC O (S*
from IN B-PP *
his PRP$ B-NP *
vantage NN I-NP *
point NN I-NP *
COMMA , O *
it PRP B-NP *
is VBZ B-VP *
n't RB O *
that IN B-SBAR (S*
Mr. NNP B-NP (S*
Paul NNP I-NP *
COMMA , O *
a DT B-NP *
customer NN I-NP *
of IN B-PP *
his PRP$ O *
too RB O *
COMMA , O *
overpaid VBN B-VP *
for IN B-PP *
the DT B-NP *
work NN I-NP *
COMMA , O *
`` `` O *
a DT B-NP *
gargantuan JJ I-NP *
painting NN I-NP *
by IN B-PP *
an DT B-NP *
artist NN I-NP *
who WP B-NP (S*
is VBZ B-VP (S*
not RB O *
a DT B-NP *
household NN I-NP *
word NN I-NP *S)S)S)S)
. . O *
'' '' O *S)

( -LRB- O (S*
The DT B-NP *
painting NN I-NP *
is VBZ B-VP *
10 CD B-NP *
feet NNS I-NP *
wide JJ B-ADJP *
COMMA , O *
seven CD B-NP *
feet NNS I-NP *
high JJ B-ADJP *
. . O *
) -RRB- O *S)

Rather RB B-ADVP (S*
COMMA , O *
`` `` O *
It PRP B-NP *
just RB B-ADVP *
shows VBZ B-VP *
things NNS B-NP (S(S*
have VBP B-VP *
changed VBN I-VP *S)S)
. . O *
'' '' O *S)

Mr. NNP B-NP (S*
Paul NNP I-NP *
boasts VBZ B-VP *
that IN B-SBAR (S*
he PRP B-NP (S*
spotted VBD B-VP *
bargains NNS B-NP *
in IN B-PP *
old JJ B-NP *
masters NNS I-NP *
just RB O (S*
before IN O *
they PRP B-NP (S*
took VBD B-VP *
an DT B-NP *
upward JJ I-NP *
turn NN I-NP *S)S)S)S)
. . O *S)

`` `` O (S*
They PRP B-NP (S(S*
went VBD B-VP *
up IN B-ADVP *
51 CD B-NP *
% NN I-NP *
last JJ B-NP *
year NN I-NP *S)
COMMA , O *
and CC O *
they PRP B-NP (S*
'll MD B-VP *
do VB I-VP *
it PRP B-NP *
again RB B-ADVP *
this DT B-NP *
year NN I-NP *S)S)
COMMA , O *
'' '' O *
he PRP B-NP *
declares VBZ B-VP *
. . O *S)

`` `` O (S*
They PRP B-NP *
were VBD B-VP *
a DT B-NP *
sleeper NN I-NP *
. . O *S)

Everybody NN B-NP (S*
was VBD B-VP *
out IN O *
buying VBG O (S*
Monets NNPS O *S)
. . O *
'' '' O *S)

Sotheby NNP B-NP (S*
's POS B-NP *
vice NN I-NP *
president NNP I-NP *
Diana NNP I-NP *
Levitt NNP I-NP *
says VBZ B-VP *
the DT B-NP (S(S*
auction NN I-NP *
house NN I-NP *
has VBZ B-VP *
been VBN I-VP *
`` `` O *
assisting VBG B-NP *
'' '' O *
Mr. NNP B-NP *
Paul NNP I-NP *
in IN B-PP *
selling VBG B-VP (S*
the DT B-NP *
paintings NNS I-NP *S)S)S)
. . O *S)

And CC O (S*
while IN B-SBAR (S*
Sotheby NNP B-NP (S*
's POS B-NP *
chief JJ I-NP *
rivals NNS I-NP *
in IN B-PP *
the DT B-NP *
art NN I-NP *
world NN I-NP *
COMMA , O *
private JJ B-NP *
art NN I-NP *
dealers NNS I-NP *
COMMA , O *
`` `` O *
wo MD B-VP *
n't RB I-VP *
be VB I-VP *
happy JJ B-ADJP *
to TO B-VP (S*
hear VB I-VP *
it PRP B-NP *S)S)S)
COMMA , O *
'' '' O *
she PRP B-NP (S*
adds VBZ B-VP *S)
COMMA , O *
`` `` O *
a DT B-NP *
number NN I-NP *
of IN B-PP *
{ -LRB- B-NP *
the DT I-NP *
artworks NNS I-NP *
} -RRB- B-NP *
have VBP B-VP *
already RB I-VP *
been VBN I-VP *
sold VBN I-VP *
COMMA , O *
and CC O *
at IN B-PP *
a DT B-NP *
substantial JJ I-NP *
profit NN I-NP *
. . O *
'' '' O *S)

Mr. NNP B-NP (S*
Paul NNP I-NP *
claims VBZ B-VP *
to TO I-VP *
have VB I-VP *
sold VBN I-VP *
three CD B-NP *
paintings NNS I-NP *
COMMA , O *
at IN O *
more JJR B-NP *
than IN B-PP *
a DT B-NP *
10 CD I-NP *
% NN I-NP *
profit NN I-NP *
. . O *S)

That DT B-NP (S(S*
is VBZ O *
n't RB O *
51 CD O *
% NN O *S)
COMMA , O *
and CC O *
the DT B-NP (S*
claim NN I-NP *
is VBZ B-VP *
n't RB I-VP *
documented VBN I-VP *S)
. . O *S)

He PRP B-NP (S*
furthermore RB B-ADVP *
denies VBZ B-VP *
that IN B-SBAR (S*
he PRP B-NP (S*
relied VBD B-VP *
too RB O *
heavily RB O *
on IN B-PP *
Sotheby NNP B-NP *
's POS B-NP *
or CC O *
Mr. NNP B-NP *
Wachter NNP I-NP *S)S)
. . O *S)

Mr. NNP B-NP (S*
Paul NNP I-NP *
says VBZ B-VP *
he PRP B-NP (S(S(S*
had VBD O *
not RB O *
one CD O *
but CC O *
four CD B-NP *
advisers NNS I-NP *S)S)
and CC O *
that IN B-SBAR (S*
he PRP B-NP (S*
never RB B-ADVP *
bid VBP B-VP *
impulsively RB B-ADVP *S)S)S)
. . O *S)

After IN B-PP (S*
all DT B-NP *
COMMA , O *
he PRP B-NP *
had VBD B-VP *
the DT B-NP *
counsel NN I-NP *
of IN B-PP *
`` `` O *
curators NNS B-NP *
from IN B-PP *
the DT B-NP *
most RBS I-NP *
reputable JJ I-NP *
museums NNS I-NP *
in IN B-PP *
the DT B-NP *
world NN I-NP *
. . O *
'' '' O *S)

He PRP B-NP (S*
says VBZ B-VP *
he PRP B-NP (S(S*
expects VBZ B-VP *
to TO I-VP *
sell VB I-VP *
the DT B-NP *
collection NN I-NP *
-- : O *
including VBG B-PP *
the DT B-NP *
controversial JJ I-NP *
Rubens NNP I-NP *
-- : O *
`` `` O *
carefully RB B-ADVP *
and CC I-ADVP *
prudently RB I-ADVP *
COMMA , O *
just RB B-SBAR (S*
as IN I-SBAR *
it PRP B-NP (S*
was VBD B-VP *
put VBN I-VP *
together RB B-ADVP *S)S)S)S)
. . O *
'' '' O *S)

But CC O (S*
in IN B-PP *
art-world NN B-NP *
parlance NN I-NP *
COMMA , O *
Mr. NNP B-NP *
Paul NNP I-NP *
's POS B-NP *
holdings NNS I-NP *
are VBP B-VP *
`` `` O *
burnt VBN B-VP *
. . O *
'' '' O *S)

That DT B-NP (S(S*
is VBZ B-VP *S)
COMMA , O *
he PRP B-NP (S*
is VBZ B-VP *
being VBG I-VP *
compelled VBN I-VP *
to TO I-VP *
put VB I-VP *
them PRP B-NP *
on IN B-PP *
the DT B-NP *
market NN I-NP *
too RB B-ADVP *
soon RB I-ADVP *
COMMA , O *
and CC O *
has VBZ B-VP *
already RB I-VP *
gotten VBN I-VP *
offers VBZ B-NP *
that WDT B-NP (S*
are VBP B-VP (S*
less JJR O *
than IN B-SBAR (S*
he PRP B-NP (S*
paid VBD B-VP *
for IN B-PP *
some DT B-NP *
of IN B-PP *
the DT B-NP *
art NN I-NP *
works NNS I-NP *S)S)S)S)S)
. . O *S)

`` `` O (S*
After IN B-PP (S*
a DT B-NP *
few JJ I-NP *
years NNS I-NP *
COMMA , O *
you PRP B-NP *
can MD B-VP *
argue VB I-VP *
there EX B-NP (S(S*
has VBZ B-VP *
been VBN I-VP *
natural JJ B-NP *
appreciation NN I-NP *S)S)S)
COMMA , O *
'' '' O *
says VBZ B-VP *
Susan NNP B-NP *
Theran NNP I-NP *
COMMA , O *
the DT B-NP *
publisher NN I-NP *
of IN B-PP *
Leonard NNP B-NP *
's POS B-NP *
Annual NNP I-NP *
Price NNP I-NP *
Index NNP I-NP *
of IN B-PP *
Art NNP B-NP *
Auctions NNS I-NP *
. . O *S)

But CC O (S(S*
quick JJ B-NP *
turnover NN I-NP *
in IN B-PP *
artwork NN B-NP *
is VBZ B-VP *
`` `` O *
like IN B-PP *
pawning VBG B-VP (S*
your PRP$ B-NP *
jewelry NN I-NP *S)S)
-- : O *
you PRP B-NP (S*
end VBP B-VP *
up IN B-PRT *
with IN B-PP *
50 CD B-NP *
% NN I-NP *S)
. . O *S)

People NNS B-NP (S*
hold VBP B-VP *
out IN O *
and CC O *
try NN O *
to TO B-VP *
get VB I-VP *
a DT B-NP *
bargain NN I-NP *
. . O *
'' '' O *S)

Sotheby NNP B-NP (S*
's POS B-NP *
defends VBZ B-VP *
itself PRP B-NP *
and CC O *
Mr. NNP B-NP *
Paul NNP I-NP *
in IN B-PP *
the DT B-NP *
matter NN I-NP *
. . O *S)

Mr. NNP B-NP (S*
Wachter NNP I-NP *
says VBZ B-VP *
Mr. NNP B-NP (S(S*
Paul NNP I-NP *
was VBD B-VP *
a DT B-NP *
quick JJ I-NP *
study NN I-NP *
who WP B-NP (S*
worked VBD B-VP (S*
intensely RB B-ADVP *
and CC O *
bought VBD B-VP *
the DT B-NP *
best JJS I-NP *
pictures NNS I-NP *
available JJ B-ADJP *
at IN B-PP *
the DT B-NP *
moment NN I-NP *S)S)S)S)
. . O *S)

`` `` O (S*
On IN B-PP (S*
occasion NN B-NP *
COMMA , O *
he PRP B-NP *
paid VBD B-VP *
a DT B-NP *
high JJ I-NP *
price NN I-NP *S)
COMMA , O *
'' '' O *
Mr. NNP B-NP (S*
Wachter NNP I-NP *
concedes VBZ B-VP *S)
COMMA , O *
but CC O *
he PRP B-NP (S*
says VBZ B-VP *
those DT B-NP (S(S*
who WP B-NP (S*
bid VBP B-VP (S*
less JJR O *
and CC O *
dropped VBD B-VP *
out RP B-PRT *S)S)
were VBD B-VP *
dealers NNS B-NP *
who WP B-NP (S*
would MD B-VP (S*
then RB I-VP *
have VB I-VP *
marked VBN I-VP *
up IN B-PP *
the DT B-NP *
paintings NNS I-NP *
to TO B-VP (S*
resell VB I-VP *
them PRP B-NP *
at IN B-PP *
a DT B-NP *
profit NN I-NP *
to TO B-PP *
collectors NNS B-NP *S)S)S)S)S)S)
. . O *S)

Naomi NNP B-NP (S*
Bernhard NNP I-NP *
Levinson NNP I-NP *
COMMA , O *
a DT B-NP *
fine-arts NNS I-NP *
appraiser NN I-NP *
at IN B-PP *
Bernhard NNP B-NP *
Associates NNPS I-NP *
in IN B-PP *
San NNP B-NP *
Francisco NNP I-NP *
COMMA , O *
considers VBZ B-VP *
it PRP B-NP (S*
`` `` O *
definite JJ B-NP *
conflict NN I-NP *
of IN B-PP *
interest NN B-NP *
for IN B-PP (S*
an DT B-NP (S*
auction NN I-NP *
house NN I-NP *
to TO B-PP *
both DT B-NP *
advise NN I-NP *
a DT B-NP *
client NN I-NP *
on IN B-PP *
purchases NNS B-NP *
and CC O *
to TO B-VP *
set VB I-VP *
price NN B-NP *
estimates NNS I-NP *
on IN B-PP *
the DT B-NP *
paintings NNS I-NP *
to TO B-VP (S(S*
be VB I-VP *
purchased VBN I-VP *S)S)S)S)S)
. . O *
'' '' O *S)

Sotheby NNP B-NP (S*
's POS B-NP *
COMMA , O *
she PRP B-NP (S*
says VBZ B-VP *S)
COMMA , O *
is VBZ B-VP *
`` `` O *
wearing VBG B-VP *
both DT B-NP *
hats NNS I-NP *
. . O *
'' '' O *S)

`` `` O (S*
I PRP B-NP (S*
ca MD B-VP *
n't RB I-VP *
see VB I-VP *
why WRB B-ADVP (S*
there EX B-NP (S*
would MD B-VP *
be VB I-VP *
a DT B-NP *
conflict NN I-NP *
of IN B-PP *
interest NN B-NP *S)S)S)
COMMA , O *
'' '' O *
says VBZ B-VP *
Sotheby NNP B-NP *
's POS B-NP *
Ms. NNP I-NP *
Levitt NNP I-NP *
. . O *S)

`` `` O (S*
Estimates NNS B-NP *
are VBP B-VP *
based VBN I-VP *
on IN B-PP *
the DT B-NP *
previous JJ I-NP *
price NN I-NP *
of IN B-PP *
similar JJ B-NP *
works NNS I-NP *
sold VBN B-VP *
at IN B-PP *
auction NN B-NP *
and CC I-NP *
current JJ I-NP *
market NN I-NP *
conditions NNS I-NP *
COMMA , O *
and CC O *
are VBP B-VP *
not RB I-VP *
affected VBN I-VP *
by IN B-PP *
any DT B-NP *
knowledge NN I-NP *
of IN B-PP *
who WP B-NP (S*
the DT B-NP (S*
potential JJ I-NP *
buyer NN I-NP *
could MD B-VP *
be VB I-VP *S)S)
. . O *
'' '' O *S)

Frequently RB B-ADVP (S(S*
COMMA , O *
clients NNS B-NP *
express VBP B-VP *
interest NN B-NP *
in IN B-PP *
paintings NNS B-NP *
but CC O *
do VBP B-VP *
n't RB I-VP *
end VB I-VP *
up IN B-PRT *
bidding NN B-NP (S*S)S)
COMMA , O *
she PRP B-NP (S*
adds VBZ B-VP *S)
COMMA , O *
`` `` O (S*
so IN B-SBAR *
we PRP B-NP *
do VBP B-VP *
n't RB I-VP *
know VB I-VP *
who WP B-NP (S*
the DT B-NP (S*
potential JJ I-NP *
buyer NN I-NP *
will MD B-VP *
be VB I-VP *S)S)S)
. . O *
'' '' O *S)

Mr. NNP B-NP (S*
Paul NNP I-NP *
COMMA , O *
in IN B-PP *
selling VBG B-VP (S*
off IN O *
his PRP$ B-NP *
paintings NNS I-NP *S)
COMMA , O *
is VBZ B-VP *
seeking VBG I-VP *
at IN B-ADVP *
least JJS I-ADVP *
a DT B-NP *
15 CD I-NP *
% NN I-NP *
return NN I-NP *
on IN B-PP *
the DT B-NP *
bank NN I-NP *
's POS B-NP *
investment NN I-NP *
COMMA , O *
so RB O (S*
as IN O *
to TO B-VP (S*
prove VB I-VP *
that IN B-SBAR (S*
the DT B-NP (S*
venture NN I-NP *
was VBD B-VP *
sound NN B-NP *S)S)S)S)
. . O *S)

Mr. NNP B-NP (S*
Paul NNP I-NP *
says VBZ B-VP *
that IN B-SBAR (S(S*
he PRP B-NP (S*
has VBZ B-VP *
feelers NNS B-NP *
out IN B-PP *
over IN B-PP *
much NN B-NP *
of IN B-PP *
the DT B-NP *
globe NN I-NP *S)S)
and CC O *
that IN B-SBAR (S*
potential JJ B-NP (S*
buyers NNS I-NP *
from IN B-PP *
as IN B-PP *
far RB O *
away RB O *
as IN O *
Japan NNP B-NP *
and CC I-NP *
Italy NNP I-NP *
have VBP B-VP *
examined VBN I-VP *
the DT B-NP *
collection NN I-NP *S)S)S)
. . O *S)

Because IN B-PP (S*
of IN I-PP *
the DT B-NP *
pressure NN I-NP *
on IN B-PP *
CenTrust NNP B-NP *
to TO B-VP (S*
sell VB I-VP *S)
COMMA , O *
dealers NNS O *
and CC O *
collectors NNS O *
have VBP B-VP *
been VBN I-VP *
trying VBG I-VP *
to TO I-VP *
get VB I-VP *
the DT B-NP *
paintings NNS I-NP *
at IN B-PP *
bargain-basement JJ B-NP *
prices NNS I-NP *
. . O *S)

But CC O (S*
so RB B-ADVP *
far RB I-ADVP *
COMMA , O *
Mr. NNP B-NP *
Paul NNP I-NP *
and CC O *
his PRP$ B-NP *
advisers NNS I-NP *
are VBP B-VP *
holding VBG I-VP *
fast RB O (S*S)
. . O *S)

One CD B-NP (S*
dealer NN I-NP *
COMMA , O *
Martin NNP B-NP *
Zimet NNP I-NP *
of IN B-PP *
French JJ B-NP *
& CC I-NP *
Co. NNP I-NP *
in IN B-PP *
New NNP B-NP *
York NNP I-NP *
COMMA , O *
says VBZ B-VP *
he PRP B-NP (S(S*
`` `` O *
would MD B-VP *
have VB I-VP *
loved VBN I-VP *
to TO I-VP *
buy VB I-VP *
'' '' O *
a DT B-NP *
Jan NNP I-NP *
Davids NNP I-NP *
de FW I-NP *
Heem NNP I-NP *
painting NN I-NP *
from IN B-PP *
the DT B-NP *
bank NN I-NP *S)S)
. . O *S)

`` `` O (S*
I PRP B-NP (S*
tried VBD B-VP *
to TO I-VP *
steal VB I-VP *
the DT B-NP *
picture NN I-NP *
-- : O *
to TO B-VP *
buy VB I-VP *
it PRP B-NP *
attractively RB B-ADVP *
-- : O *S)
and CC O *
{ -LRB- B-NP (S*
Sotheby NNP I-NP *
's POS B-NP *
} -RRB- I-NP *
would MD B-VP *
n't RB I-VP *
do VB I-VP *
it PRP B-NP *S)
. . O *S)

They PRP B-NP (S*
were VBD B-VP *
protecting VBG I-VP *
his PRP$ B-NP *
interests NNS I-NP *
. . O *
'' '' O *S)

Meanwhile RB B-ADVP (S*
COMMA , O *
Mr. NNP B-NP *
Paul NNP I-NP *
and CC O *
CenTrust NNP B-NP *
executives NNS I-NP *
are VBP B-VP *
getting VBG I-VP *
squeamish JJ O *
about IN B-PP *
opulence NN B-NP *
. . O *S)

Mr. NNP B-NP (S(S*
Paul NNP I-NP *
has VBZ B-VP *
been VBN I-VP *
characterized VBN I-VP *
as IN B-PP *
`` `` O *
the DT B-NP *
Great NNP I-NP *
Gatsby NNP I-NP *
or CC I-NP *
something NN I-NP *S)
COMMA , O *
'' '' O *
complains VBZ B-VP *
Karen NNP B-NP *
E. NNP I-NP *
Brinkman NNP I-NP *
COMMA , O *
an DT B-NP *
executive JJ I-NP *
vice NN I-NP *
president NN I-NP *
of IN B-PP *
CenTrust NNP B-NP *
. . O *S)

The DT B-NP (S*
media NNS I-NP *
COMMA , O *
she PRP B-NP (S*
says VBZ B-VP *S)
COMMA , O *
have VBP B-VP *
distorted VBN I-VP *
his PRP$ B-NP *
personal JJ I-NP *
life NN I-NP *
. . O *S)

Mr. NNP B-NP (S*
Paul NNP I-NP *
nods VBZ B-VP *
in IN B-PP *
agreement NN B-NP *
. . O *S)

`` `` O (S*
I PRP B-NP (S*
do VBP B-VP *
n't RB I-VP *
think VB I-VP *
I PRP B-NP (S(S*
have VB B-VP *
a DT B-NP *
life NN I-NP *
style NN I-NP *
that DT B-NP (S*
is VBZ B-VP (S*
COMMA , O *
frankly RB B-ADVP *
COMMA , O *
so RB O *
flamboyant JJ O *S)S)S)S)S)
COMMA , O *
'' '' O *
he PRP B-NP *
says VBZ B-VP *
. . O *S)

But CC O (S*
at IN B-PP *
just RB O *
that DT O *
moment NN O *
COMMA , O *
he PRP B-NP *
is VBZ B-VP *
interrupted VBN I-VP *
in IN B-PP *
his PRP$ B-NP *
office NN I-NP *
by IN B-PP *
a DT B-NP *
servant NN I-NP *
in IN B-PP *
tuxedo NN B-NP *
who WP B-NP (S*
pours VBZ B-VP (S*
coffee NN B-NP *
from IN B-PP *
silver NN B-NP *
into IN B-PP *
a DT B-NP *
cup NN I-NP *
of IN B-PP *
china NN B-NP *
and CC O *
dabs VBZ B-VP *
the DT B-NP *
brim NN I-NP *
with IN B-PP *
linen NN B-NP *S)S)
. . O *S)

Mr. NNP B-NP (S*
Paul NNP I-NP *
says VBZ B-VP *
COMMA , O *
yes UH B-INTJ (S(S*
COMMA , O *
the DT B-NP *
ceiling NN I-NP *
in IN B-PP *
his PRP$ B-NP *
executive JJ I-NP *
suite NN I-NP *
is VBZ B-VP *
gold-leaf JJ B-NP *
inlay NN I-NP *S)S)
. . O *S)

The DT B-NP (S*
offices NNS I-NP *
are VBP B-VP *
done VBN I-VP *
in IN B-PP *
hardwood NN B-NP *
and CC O *
oriental JJ B-NP *
rugs NNS I-NP *
COMMA , O *
leatherbound JJ B-NP *
books NNS I-NP *
and CC O *
COMMA , O *
of IN B-PP *
course NN B-NP *
COMMA , O *
a DT B-NP *
$ $ I-NP *
12 CD I-NP *
million CD I-NP *
Rubens NNP B-NP *
. . O *S)

But CC O (S*
he PRP B-NP *
implores VBZ B-VP *
that IN B-SBAR (S*
the DT B-NP (S*
splendor NN I-NP *
be VB B-VP *
played VBN I-VP *
down RB B-PRT *S)S)
. . O *S)

`` `` O (S*
Do VBP B-VP *
n't RB I-VP *
say VB I-VP *
it PRP B-NP (S(S*
's VBZ B-VP *
a DT B-NP *
gold NN I-NP *
ceiling NN I-NP *S)S)
. . O *S)

Just RB B-ADVP (S(S*
say VBP B-VP *
the DT B-NP (S(S*
offices NNS I-NP *
are VBP B-VP *
tastefully RB I-VP *
appointed VBN I-VP *S)S)S)
COMMA , O *
'' '' O *
he PRP B-NP *
says VBZ B-VP *
. . O *S)

`` `` O (S*
Otherwise RB B-ADVP (S*
COMMA , O *
the DT B-NP *
regulators NNS I-NP *
will MD B-VP *
take VB I-VP *
it PRP B-NP *
for IN B-PP *
decadence NN B-NP *S)
COMMA , O *
and CC O *
nowadays RB O (S*
everything NN O *
's POS O *
got VBD O *
to TO O *
be VB O *
pristine JJ B-ADJP *S)
. . O *
'' '' O *S)

Figures NNS B-NP (S*
do VBP B-VP *
n't RB I-VP *
include VB I-VP *
taxes NNS B-NP *
or CC O *
transaction NN B-NP *
costs NNS I-NP *
. . O *S)

Companies NNS B-NP (S*
listed VBN B-VP *
below IN B-PP *
reported VBN B-VP *
quarterly JJ B-NP *
profit NN I-NP *
substantially RB B-ADJP *
different JJ I-ADJP *
from IN B-PP *
the DT B-NP *
average NN I-NP *
of IN B-PP *
analysts NNS B-NP *
' POS B-NP *
estimates NNS I-NP *
. . O *S)

The DT B-NP (S*
companies NNS I-NP *
are VBP B-VP *
followed VBN I-VP *
by IN B-PP *
at IN B-NP *
least JJS I-NP *
three CD I-NP *
analysts NNS I-NP *
COMMA , O *
and CC O *
had VBD B-VP *
a DT B-NP *
minimum JJ I-NP *
five-cent JJ I-NP *
change NN I-NP *
in IN B-PP *
actual JJ B-NP *
earnings NNS I-NP *
per IN B-PP *
share NN B-NP *
. . O *S)

Estimated VBN B-NP (S*
and CC I-NP *
actual JJ I-NP *
results NNS I-NP *
involving VBG B-VP *
losses NNS B-NP *
are VBP B-VP *
omitted VBN I-VP *
. . O *S)

The DT B-NP (S*
percent NN I-NP *
difference NN I-NP *
compares VBZ B-VP *
actual JJ B-NP *
profit NN I-NP *
with IN B-PP *
the DT B-NP *
30-day JJ I-NP *
estimate NN I-NP *
where WRB B-ADVP (S*
at IN B-NP (S*
least JJS I-NP *
three CD I-NP *
analysts NNS I-NP *
have VBP B-VP *
issues NNS I-VP *
forecasts NNS B-NP *
in IN B-PP *
the DT B-NP *
past JJ I-NP *
30 CD I-NP *
days NNS I-NP *S)S)
. . O *S)

Otherwise RB B-ADVP (S*
COMMA , O *
actual JJ B-NP *
profit NN I-NP *
is VBZ B-VP *
compared VBN I-VP *
with IN B-PP *
the DT B-NP *
300-day JJ I-NP *
estimate NN I-NP *
. . O *S)

{ -LRB- O (S*
During IN B-PP *
its PRP$ B-NP *
centennial NN I-NP *
year NN I-NP *
COMMA , O *
The DT B-NP *
Wall NNP I-NP *
Street NNP I-NP *
Journal NNP I-NP *
will MD B-VP *
report VB I-VP *
events NNS B-NP *
of IN B-PP *
the DT B-NP *
past JJ I-NP *
century NN I-NP *
that WDT B-NP (S*
stand VBP B-VP (S*
as IN B-PP *
milestones NNS B-NP *
of IN B-PP *
American JJ B-NP *
business NN I-NP *
history NN I-NP *S)S)
. . O *
} -RRB- O *S)

CREATIVE JJ B-NP (S*
ACCOUNTING NN I-NP *
COMMA , O *
mostly RB B-ADVP *
by IN B-PP *
conglomerates NNS B-NP *
COMMA , O *
forced VBN B-NP *
CPAs NNS I-NP (S*
to TO B-VP *
change VB I-VP *
their PRP$ B-NP *
way NN I-NP *
of IN B-PP *
setting VBG B-VP (S*
standards NNS B-NP *
to TO B-VP (S(S*
be VB I-VP *
followed VBN I-VP *
by IN B-PP *
corporations NNS B-NP *
reporting VBG B-VP *
financial JJ B-NP *
results NNS I-NP *S)S)
COMMA , O *
standards NNS B-NP *
that WDT B-NP (S*
had VBD B-VP (S*
become VBN I-VP *
all DT O *
too RB B-ADJP *
flexible JJ I-ADJP *S)S)S)S)
. . O *S)

The DT B-NP (S*
new JJ I-NP *
Financial NNP I-NP *
Accounting NNP I-NP *
Standards NNP I-NP *
Board NNP I-NP *
( -LRB- O *
FASB NNP B-NP *
) -RRB- I-NP *
was VBD B-VP *
created VBN I-VP *
in IN B-PP *
1972 CD B-NP *
to TO B-VP (S*
replace VB I-VP *
the DT O *
Accounting NNP O *
Principles NNS O *
Board NNP O *
of IN B-PP *
the DT B-NP *
American NNP I-NP *
Institute NNP I-NP *
of IN B-PP *
Certified NNP B-NP *
Public NNP I-NP *
Accountants NNPS I-NP *S)
. . O *S)

All DT B-NP (S*
of IN B-PP *
the DT B-NP *
former JJ I-NP *
board NN I-NP *
's POS B-NP *
members NNS I-NP *
were VBD B-VP *
CPAs NNS B-NP *
COMMA , O *
provoking VBG O (S*
conflict-of-interest NN B-NP *
criticism NN I-NP *
because IN B-SBAR (S*
they PRP B-NP (S*
were VBD B-VP *
writing VBG I-VP *
rules NNS B-NP *
while IN B-SBAR (S*
handling NN O (S*
clients NNS O *
' POS B-NP *
books NNS I-NP *
at IN B-PP *
the DT B-NP *
same JJ I-NP *
time NN I-NP *S)S)S)S)S)
. . O *S)

The DT B-NP (S(S*
new JJ I-NP *
board NN I-NP *
's POS B-NP *
seven-member JJ I-NP *
structure NN I-NP *
kept VBD B-VP *
four CD B-NP *
CPAs NNS I-NP *S)
COMMA , O *
but CC O *
the DT B-NP (S*
others NNS I-NP *
were VBD B-VP *
from IN B-PP *
industry NN B-NP *
and CC I-NP *
academia NN I-NP *S)
. . O *S)

Francis NNP B-NP (S*
M. NNP I-NP *
Wheat NNP I-NP *
COMMA , O *
a DT B-NP *
former JJ I-NP *
Securities NNPS I-NP *
and CC I-NP *
Exchange NNP I-NP *
Commission NNP I-NP *
member NN I-NP *
COMMA , O *
headed VBD B-VP *
the DT B-NP *
panel NN I-NP *
that WDT B-NP (S*
had VBD B-VP (S*
studied VBN I-VP *
the DT B-NP *
issues NNS I-NP *
for IN B-PP *
a DT B-NP *
year NN I-NP *
and CC O *
proposed VBD B-VP *
the DT B-NP *
FASB NNP I-NP *
on IN B-PP *
March NNP B-NP *
30 CD I-NP *
COMMA , I-NP *
1972 CD I-NP *S)S)
. . O *S)

The DT B-NP (S(S*
former JJ I-NP *
board NN I-NP *
had VBD B-VP *
produced VBN I-VP *
`` `` O *
21 CD B-NP *
opinions NNS I-NP *
and CC O *
1COMMA000 CD B-NP *
critics NNS I-NP *
'' '' O *
in IN B-PP *
its PRP$ B-NP *
12-year JJ I-NP *
life NN I-NP *S)
COMMA , O *
its PRP$ B-NP *
chairman NN I-NP *
had VBD B-VP *
conceded VBN I-VP *
. . O *S)

The DT B-NP (S*
climate NN I-NP *
was VBD B-VP *
right NN B-NP *
for IN B-PP *
the DT B-NP *
new JJ I-NP *
FASB NNP I-NP *
. . O *S)

In IN B-PP (S*
the DT B-NP *
late JJ I-NP *
1960s CD I-NP *
some DT B-NP *
CPAs NNS I-NP *
failed VBD B-VP *
to TO I-VP *
correct VB I-VP *
such JJ B-NP *
abuses NNS I-NP *
as IN B-PP *
clients NNS B-NP (S*
picking VBG B-VP *
permissive JJ B-NP *
rules NNS I-NP *
that WDT B-NP (S*
hyped VBD B-VP (S*
earnings NNS O *
and CC O *
stock NN B-NP *
prices NNS I-NP *S)S)S)
. . O *S)

And CC O (S*
in IN B-PP *
November NNP B-NP *
1970 CD I-NP *
Congress NNP I-NP *
had VBD B-VP *
passed VBN I-VP *
a DT B-NP *
special JJ I-NP *
act NN I-NP *
to TO B-VP (S*
overrule VB I-VP *
one CD B-NP *
board NN I-NP *
rule NN I-NP *S)
. . O *S)

Also RB B-ADVP (S*
COMMA , O *
James NNP B-NP *
Needham NNP I-NP *
COMMA , O *
an DT B-NP *
SEC NNP I-NP *
commissioner NN I-NP *
COMMA , O *
in IN B-PP *
April NNP B-NP *
1972 CD I-NP *
had VBD B-VP *
warned VBN I-VP *
that IN B-SBAR (S*
the DT B-NP (S*
industry NN I-NP *
might MD B-VP *
face VB I-VP *
a DT B-NP *
`` `` I-NP *
federal JJ I-NP *
agency NN I-NP *
writing VBG B-VP *
accounting NN B-NP *
rules NNS I-NP *
'' '' O *
if IN B-SBAR (S*
they PRP B-NP (S*
rejected VBD B-VP *
the DT B-NP *
FASB NNP I-NP *
idea NN I-NP *S)S)S)S)
. . O *S)

Keepers NNS B-NP (S*
of IN B-PP *
the DT B-NP *
books NNS I-NP *
COMMA , O *
dubbed VBN B-VP *
`` `` O *
figure NN B-NP *
filberts NNS I-NP *
COMMA , O *
'' '' O *
loathed VBD B-VP *
the DT B-NP *
threat NN I-NP *
. . O *S)

The DT B-NP (S*
FASB NNP I-NP *
had VBD B-VP *
its PRP$ B-NP *
initial JJ I-NP *
meeting NN I-NP *
on IN B-PP *
March NNP B-NP *
28 CD I-NP *
COMMA , I-NP *
1973 CD I-NP *
. . O *S)

On IN B-PP (S(S*
Dec. NNP B-NP *
13 CD I-NP *
COMMA , I-NP *
1973 CD I-NP *
COMMA , O *
it PRP B-NP *
issued VBD B-VP *
its PRP$ B-NP *
first JJ I-NP *
rule NN I-NP *S)
; : O *
it PRP B-NP (S*
required VBD B-VP *
companies NNS B-NP (S*
to TO B-VP *
disclose VB I-VP *
foreign JJ B-NP *
currency NN I-NP *
translations NNS I-NP *
in IN B-PP *
U.S. NNP B-NP *
dollars NNS I-NP *S)S)
. . O *S)

The DT B-NP (S(S*
FASB NNP I-NP *
since IN O *
then RB O *
has VBZ B-VP *
issued VBN I-VP *
102 CD B-NP *
rules NNS I-NP *S)
COMMA , O *
and CC O *
some DT B-NP (S*
still RB B-ADVP *
rile VBP B-VP *
industry NN B-NP *S)
. . O *S)

Since IN B-PP (S*
late JJ B-NP *
1987 CD I-NP *
COMMA , O *
for IN B-PP *
example NN B-NP *
COMMA , O *
it PRP B-NP *
has VBZ B-VP *
put VBN I-VP *
off IN B-PP *
a DT B-NP *
rule NN I-NP *
dealing VBG B-VP *
with IN B-PP *
deferred VBN B-NP *
income NN I-NP *
taxes NNS I-NP *
because IN B-PP *
of IN I-PP *
the DT B-NP *
continuing VBG I-NP *
controversy NN I-NP *
over IN B-PP *
the DT B-NP *
issue NN I-NP *
. . O *S)

Amcast NNP B-NP (S*
Industrial NNP I-NP *
Corp. NNP I-NP *
said VBD B-VP *
it PRP B-NP (S(S*
plans VBZ B-VP *
to TO I-VP *
repurchase VB I-VP *
500COMMA000 CD B-NP *
shares NNS I-NP *
COMMA , O *
or CC O *
about IN B-NP *
7 CD I-NP *
% NN I-NP *
of IN B-PP *
its PRP$ B-NP *
shares NNS I-NP *
outstanding JJ B-ADJP *
COMMA , O *
in IN B-PP *
open JJ B-NP *
market NN I-NP *
transactions NNS I-NP *S)S)
. . O *S)

The DT B-NP (S*
metal NN I-NP *
products NNS I-NP *
concern VBP I-NP *
currently RB B-ADVP *
has VBZ B-VP *
7.2 CD B-NP *
million CD I-NP *
common JJ I-NP *
shares NNS I-NP *
outstanding JJ B-ADJP *
. . O *S)

Amcast NNP B-NP (S*
previously RB B-ADVP *
had VBD O *
said VBD B-VP *
it PRP B-NP (S(S*
planned VBD B-VP *
to TO I-VP *
repurchase VB I-VP *
shares NNS B-NP *S)S)
COMMA , O *
but CC O *
did VBD B-VP *
n't RB I-VP *
disclose VB I-VP *
when WRB B-ADVP *
or CC O *
how WRB O (S*
many JJ O *
shares NNS O *
it PRP B-NP (S*
intended VBD B-VP *
to TO I-VP *
buy VB I-VP *
back RB B-ADVP *S)S)
. . O *S)

The DT B-NP (S*
company NN I-NP *
named VBN B-VP *
Dillon NNP B-NP *
Read NNP I-NP *
& CC I-NP *
Co. NNP I-NP *
as IN B-PP *
its PRP$ B-NP *
exclusive JJ I-NP *
agent NN I-NP *
for IN B-PP *
the DT B-NP *
stock NN I-NP *
buy-back NN I-NP *
program NN I-NP *
. . O *S)

A DT B-NP (S*
seat NN I-NP *
on IN B-PP *
the DT B-NP *
Chicago NNP I-NP *
Board NNP I-NP *
of IN B-PP *
Trade NNP B-NP *
was VBD B-VP *
sold VBN I-VP *
for IN B-PP *
$ $ B-NP *
390COMMA000 CD I-NP *
COMMA , O *
down RB B-ADVP *
$ $ B-NP *
5COMMA000 CD I-NP *
from IN B-PP *
the DT B-NP *
previous JJ I-NP *
sale NN I-NP *
last JJ B-NP *
Tuesday NNP I-NP *
. . O *S)

Seats NNS B-NP (S*
currently RB B-ADVP *
are VBP B-VP *
quoted VBN I-VP *
at IN B-PP *
$ $ B-NP *
353COMMA500 CD I-NP *
bid NN I-NP *
COMMA , O *
$ $ B-NP *
405COMMA000 CD I-NP *
asked VBD B-VP *
. . O *S)

The DT B-NP (S*
record NN I-NP *
price NN I-NP *
for IN B-PP *
a DT B-NP *
full JJ I-NP *
membership NN I-NP *
on IN B-PP *
the DT B-NP *
exchange NN I-NP *
is VBZ B-VP *
$ $ B-NP *
550COMMA000 CD I-NP *
COMMA , O *
set VBN B-VP (S*
Aug. NNP B-NP *
31 CD I-NP *
COMMA , I-NP *
1987 CD I-NP *S)
. . O *S)

An DT B-NP (S*
associate JJ I-NP *
member NN I-NP *
seat NN I-NP *
was VBD B-VP *
sold VBN I-VP *
for IN B-PP *
$ $ B-NP *
228COMMA000 CD I-NP *
COMMA , O *
up IN B-ADVP *
$ $ B-NP *
8COMMA000 CD I-NP *
from IN B-PP *
the DT B-NP *
previous JJ I-NP *
sale NN I-NP *
Oct. NNP B-NP *
4 CD I-NP *
. . O *S)

Associate JJ B-NP (S*
member NN I-NP *
seats NNS I-NP *
currently RB B-ADVP *
are VBP B-VP *
quoted VBN I-VP *
at IN B-PP *
$ $ B-NP *
225COMMA000 CD I-NP *
bid NN I-NP *
COMMA , O *
$ $ B-NP *
256COMMA000 CD I-NP *
asked VBD B-VP *
. . O *S)

The DT B-NP (S*
record NN I-NP *
price NN I-NP *
for IN B-PP *
associate JJ B-NP *
membership NN I-NP *
is VBZ B-VP *
$ $ B-NP *
275COMMA000 CD I-NP *
COMMA , O *
set VBN B-VP (S*
Aug. NNP B-NP *
30 CD I-NP *
COMMA , I-NP *
1988 CD I-NP *S)
. . O *S)

CAE NNP B-NP (S*
Industries NNP I-NP *
Ltd. NNP I-NP *
said VBD B-VP *
its PRP$ B-NP (S(S*
Link NNP I-NP *
Flight NNP I-NP *
Simulation NN I-NP *
division NN I-NP *
was VBD B-VP *
awarded VBN I-VP *
a DT B-NP *
contract NN I-NP *
by IN B-PP *
the DT B-NP *
U.S. NNP I-NP *
Army NNP I-NP *
for IN B-PP *
two CD B-NP *
helicopter NN I-NP *
simulators NNS I-NP *
COMMA , O *
which WDT B-NP (S*
the DT B-NP (S*
company NN I-NP *
valued VBN B-VP *
at IN B-PP *
as RB B-NP *
much JJ I-NP *
as IN I-NP *
37 CD I-NP *
million CD I-NP *
Canadian JJ I-NP *
dollars NNS I-NP *
( -LRB- O *
US$ $ B-NP *
31.5 CD I-NP *
million CD I-NP *
) -RRB- O *S)S)S)S)
. . O *S)

CAE NNP B-NP (S*
said VBD B-VP *
the DT B-NP (S(S*
fixed VBN I-NP *
price NN I-NP *
for IN B-PP *
the DT B-NP *
first JJ I-NP *
of IN B-PP *
the DT B-NP *
AH-64 NNP I-NP *
Apache NNP I-NP *
combat NN I-NP *
mission NN I-NP *
simulators NNS I-NP *
is VBZ B-VP *
C$ $ B-NP *
19 CD I-NP *
million CD I-NP *S)S)
. . O *S)

It PRP B-NP (S*
is VBZ B-VP *
scheduled VBN I-VP *
for IN B-PP *
delivery NN B-NP *
in IN B-PP *
late JJ B-NP *
1991 CD I-NP *
. . O *S)

The DT B-NP (S*
price NN I-NP *
of IN B-PP *
the DT B-NP *
second JJ I-NP *
simulator NN I-NP *
ranges NNS I-NP *
between IN B-NP *
C$ $ I-NP *
16.4 CD I-NP *
million CD I-NP *
and CC I-NP *
C$ $ I-NP *
18 CD I-NP *
million CD I-NP *
COMMA , O *
CAE NNP B-NP (S*
said VBD B-VP *S)
COMMA , O *
depending VBG B-VP (S*
on IN B-PP *
when WRB B-ADVP (S*
the DT O (S*
Army NNP O *
exercises NNS O *
its PRP$ B-NP *
option NN I-NP *S)S)S)
. . O *S)

CAE NNP B-NP (S*
is VBZ B-VP *
a DT B-NP *
Toronto-based JJ I-NP *
maker NN I-NP *
of IN B-PP *
commercial JJ B-NP *
and CC I-NP *
military JJ I-NP *
aircraft NN I-NP *
simulators NNS I-NP *
and CC O *
training NN B-NP *
equipment NN I-NP *
. . O *S)

Helionetics NNP B-NP (S*
Inc. NNP I-NP *
said VBD B-VP *
it PRP B-NP (S(S*
agreed VBD B-VP *
to TO I-VP *
team VB I-VP *
with IN B-PP *
a DT B-NP *
unit NN I-NP *
of IN B-PP *
Minneapolis-based JJ B-NP *
Honeywell NNP I-NP *
Inc. NNP I-NP *
to TO B-VP (S*
provide VB I-VP *
power NN B-NP *
amplifiers NNS I-NP *
for IN B-PP *
a DT B-NP *
new JJ I-NP *
military JJ I-NP *
sonar NN I-NP *
system NN I-NP *
being VBG B-VP *
proposed VBN I-VP *
by IN B-PP *
Honeywell NNP B-NP *S)S)S)
. . O *S)

Total JJ B-NP (S(S*
value NN I-NP *
of IN B-PP *
the DT B-NP *
contract NN I-NP *
could MD B-VP *
be VB I-VP *
$ $ B-NP *
100 CD I-NP *
million CD I-NP *S)
COMMA , O *
Helionetics NNP B-NP (S*
said VBD B-VP *S)
COMMA , O *
and CC O *
work NN B-NP (S*
on IN B-PP *
the DT B-NP *
project NN I-NP *
would MD B-VP *
be VB I-VP *
about IN O *
evenly RB O *
divided VBN O *S)
. . O *S)

As IN B-PP (S(S*
previously RB B-ADVP (S*
reported VBD B-VP *S)S)
COMMA , O *
Helionetics NNP B-NP *
emerged VBD B-VP *
from IN B-PP *
Chapter NN B-NP *
11 CD I-NP *
bankruptcy-law NN I-NP *
protection NN I-NP *
in IN B-PP *
February NNP B-NP *
. . O *S)

This DT B-NP (S*
Los NNP I-NP *
Angeles NNP I-NP *
company NN I-NP *
and CC O *
its PRP$ B-NP *
Union NNP I-NP *
Federal NNP I-NP *
Savings NNP I-NP *
Bank NNP I-NP *
subsidiary NN I-NP *
said VBD B-VP *
more JJR B-NP (S(S*
than IN I-NP *
99 CD I-NP *
% NN I-NP *
of IN B-PP *
their PRP$ B-NP *
7 CD I-NP *
1\/4 CD I-NP *
% NN I-NP *
convertible JJ I-NP *
subordinated VBN I-NP *
debentures NNS I-NP *
due JJ B-ADJP *
2011 CD B-NP *
were VBD B-VP *
tendered VBN I-VP *
for IN B-PP *
conversion NN B-NP *
into IN B-PP *
UnionFed NNP O *
common JJ B-NP *
stock NN I-NP *S)S)
. . O *S)

The DT B-NP (S*
conversion NN I-NP *
increased VBD B-VP *
total JJ B-NP *
equity NN I-NP *
capital NN I-NP *
by IN B-PP *
about RB B-NP *
$ $ I-NP *
38.5 CD I-NP *
million CD I-NP *
to TO B-PP *
a DT B-NP *
total NN I-NP *
of IN B-PP *
$ $ B-NP *
156.8 CD I-NP *
million CD I-NP *
. . O *S)

Union NNP B-NP (S*
Federal NNP I-NP *
COMMA , O *
a DT B-NP *
federally RB I-NP *
insured VBN I-NP *
savings NNS I-NP *
bank VBP O *
COMMA , O *
has VBZ B-VP *
$ $ B-NP *
2.4 CD I-NP *
billion CD I-NP *
in IN B-PP *
assets NNS B-NP *
. . O *S)

David NNP B-NP (S*
D. NNP I-NP *
Lung NNP I-NP *
was VBD B-VP *
appointed VBN I-VP *
president NN B-NP *
and CC O *
chief JJ B-NP *
operating VBG I-NP *
officer NN I-NP *
of IN B-PP *
this DT B-NP *
maker NN I-NP *
of IN B-PP *
building NN B-NP *
materials NNS I-NP *
for IN B-PP *
manufactured VBN B-NP *
homes NNS I-NP *
and CC O *
recreational JJ B-NP *
vehicles NNS I-NP *
. . O *S)

As IN B-PP (S*
president NN B-NP *
COMMA , O *
Mr. NNP B-NP *
Lung NNP I-NP *
COMMA , O *
42 CD B-NP *
years NNS I-NP *
old JJ B-ADJP *
COMMA , O *
succeeds VBZ B-VP *
his PRP$ B-NP *
father NN I-NP *
COMMA , O *
Mervin NNP B-NP *
D. NNP I-NP *
Lung NNP I-NP *
COMMA , O *
66 CD B-NP *
COMMA , O *
who WP B-NP (S*
founded VBD B-VP (S*
the DT B-NP *
company NN I-NP *
in IN B-PP *
1959 CD B-NP *S)S)
. . O *S)

Mervin NNP B-NP (S*
Lung NNP I-NP *
remains VBZ O *
chairman NN B-NP *
and CC O *
chief JJ B-NP *
executive JJ I-NP *
officer NN I-NP *
. . O *S)

David NNP B-NP (S*
Lung NNP I-NP *
has VBZ B-VP *
been VBN I-VP *
with IN B-PP *
Patrick NNP B-NP *
since IN B-PP *
1970 CD B-NP *
COMMA , O *
and CC O *
has VBZ B-VP *
served VBN I-VP *
as IN B-PP *
vice NN B-NP *
president NN I-NP *
for IN B-PP *
administration NN B-NP *
and CC O *
purchasing VBG B-VP *
since IN B-PP *
1987 CD B-NP *
. . O *S)

General NNP B-NP (S*
Dynamics NNP I-NP *
Services NNP I-NP *
Co. NNP I-NP *
COMMA , O *
a DT B-NP *
unit NN I-NP *
of IN B-PP *
General NNP B-NP *
Dynamics NNP I-NP *
Corp. NNP I-NP *
COMMA , O *
won VBD B-VP *
a DT B-NP *
$ $ I-NP *
48.2 CD I-NP *
million CD I-NP *
Army NNP I-NP *
contract NN I-NP *
to TO B-VP (S*
establish VB I-VP *
maintenance NN B-NP *
facilities NNS I-NP *
for IN B-PP *
tracked VBN B-NP *
vehicles NNS I-NP *
in IN B-PP *
Pakistan NNP B-NP *S)
. . O *S)

Grumman NNP B-NP (S*
Corp. NNP I-NP *
was VBD B-VP *
given VBN I-VP *
a DT B-NP *
$ $ I-NP *
15 CD I-NP *
million CD I-NP *
Navy NNP I-NP *
contract NN I-NP *
for IN B-PP *
aircraft-electronics NN B-NP *
improvements NNS I-NP *
. . O *S)

Hughes NNP B-NP (S*
Aircraft NNP I-NP *
Co. NNP I-NP *
COMMA , O *
a DT B-NP *
unit NN I-NP *
of IN B-PP *
General NNP B-NP *
Motors NNPS I-NP *
Corp. NNP I-NP *
COMMA , O *
got VBD B-VP *
a DT B-NP *
$ $ I-NP *
10.3 CD I-NP *
million CD I-NP *
Air NNP I-NP *
Force NNP I-NP *
contract NN I-NP *
for IN B-PP *
airborne-radar NN B-NP *
equipment NN I-NP *
. . O *S)

Reynolds NNP B-NP (S*
Metals NNP I-NP *
Co. NNP I-NP *
said VBD B-VP *
third-quarter JJ B-NP (S(S*
net JJ I-NP *
income NN I-NP *
dropped VBD B-VP *
nearly RB B-NP *
10 CD I-NP *
% NN I-NP *
to TO B-PP *
$ $ B-NP *
123.7 CD I-NP *
million CD I-NP *
COMMA , O *
or CC O *
$ $ B-NP *
2.10 CD I-NP *
a DT B-NP *
share NN I-NP *
COMMA , O *
from IN B-PP *
$ $ B-NP *
137.2 CD I-NP *
million CD I-NP *
COMMA , O *
or CC O *
$ $ B-NP *
2.56 CD I-NP *
a DT B-NP *
share NN I-NP *
COMMA , O *
a DT B-NP *
year NN I-NP *
earlier RBR B-ADVP *S)S)
. . O *S)

The DT B-NP (S*
latest JJS I-NP *
earnings NNS I-NP *
reflect VBP B-VP *
an DT B-NP *
increase NN I-NP *
of IN B-PP *
about IN B-NP *
5.5 CD I-NP *
million CD I-NP *
in IN B-PP *
common JJ B-NP *
shares NNS I-NP *
outstanding JJ B-ADJP *
. . O *S)

Revenue NN B-NP (S*
rose VBD B-VP *
3 CD B-NP *
% NN I-NP *
to TO B-PP *
$ $ B-NP *
1.52 CD I-NP *
billion CD I-NP *
from IN B-PP *
$ $ B-NP *
1.48 CD I-NP *
billion CD I-NP *
. . O *S)

Reynolds NNP B-NP (S*
is VBZ B-VP *
the DT B-NP (S*
third JJ I-NP *
big JJ I-NP *
aluminum NN I-NP *
company NN I-NP *
since IN B-PP *
Friday NNP B-NP *
to TO B-VP *
report VB I-VP *
disappointing JJ B-NP *
earnings NNS I-NP *S)
. . O *S)

The DT B-NP (S*
No. NN I-NP *
1 CD I-NP *
domestic JJ I-NP *
aluminum NN I-NP *
producer NN I-NP *
COMMA , O *
Aluminum NNP B-NP *
Co. NNP I-NP *
of IN B-PP *
America NNP B-NP *
COMMA , O *
Friday NNP B-NP *
said VBD B-VP *
its PRP$ B-NP (S(S*
earnings NNS I-NP *
fell VBD B-VP *
3.2 CD B-NP *
% NN I-NP *
to TO B-PP *
$ $ B-NP *
219 CD I-NP *
million CD I-NP *
COMMA , O *
or CC O *
$ $ B-NP *
2.46 CD I-NP *
a DT B-NP *
share NN I-NP *S)S)
. . O *S)

And CC O (S*
Alcan NNP B-NP *
Aluminium NNP I-NP *
Ltd. NNP I-NP *
yesterday NN B-NP *
reported VBD B-VP *
net JJ B-NP (S(S*
income NN I-NP *
slid VBD B-VP *
30 CD B-NP *
% NN I-NP *
to TO B-PP *
$ $ B-NP *
180 CD I-NP *
million CD I-NP *
COMMA , O *
or CC O *
77 CD B-NP *
cents NNS I-NP *
a DT B-NP *
share NN I-NP *
COMMA , O *
from IN B-PP *
$ $ B-NP *
258 CD I-NP *
million CD I-NP *
COMMA , O *
or CC O *
$ $ B-NP *
1.07 CD I-NP *
a DT B-NP *
share NN I-NP *S)S)
. . O *S)

Analysts NNS B-NP (S*
on IN B-PP *
average NN B-NP *
had VBD B-VP *
been VBN I-VP *
expecting VBG I-VP *
about RB B-NP *
$ $ I-NP *
2.70 CD I-NP *
for IN B-PP *
Alcoa NNP B-NP *
and CC O *
$ $ B-NP *
1 CD I-NP *
for IN B-PP *
Alcan NNP B-NP *
. . O *S)

`` `` O (S*
It PRP B-NP (S*
's VBZ B-VP *
a DT B-NP *
good JJ I-NP *
indication NN I-NP *
that DT B-NP (S*
level NN I-NP (S*
of IN B-PP *
profitability NN B-NP *
has VBZ B-VP *
peaked VBN I-VP *
for IN B-PP *
the DT B-NP *
industry NN I-NP *S)S)S)
COMMA , O *
'' '' O *
says VBZ B-VP *
Vahid NNP B-NP *
Fathi NNP I-NP *
COMMA , O *
metals NNS B-NP *
analyst NN I-NP *
with IN B-PP *
Prescott NNP B-NP *
COMMA , I-NP *
Ball NNP I-NP *
& CC I-NP *
Turben NNP I-NP *
Inc. NNP I-NP *
COMMA , O *
who WP B-NP (S*
had VBD B-VP (S*
estimated VBN I-VP *
Reynolds NNP B-NP (S(S*
would MD B-VP *
earn VB I-VP *
about RB B-NP *
$ $ I-NP *
2.35 CD I-NP *
a DT B-NP *
share NN I-NP *S)S)S)S)
. . O *S)

The DT B-NP (S*
nation NN I-NP *
's POS B-NP *
No. NN I-NP *
2 CD I-NP *
aluminum NN I-NP *
company NN I-NP *
said VBD B-VP *
earnings NNS B-NP (S(S*
were VBD B-VP *
hurt VBN I-VP *
by IN B-PP *
lower JJR B-NP *
prices NNS I-NP *
for IN B-PP *
certain RB O *
fabricated VBN O *
aluminum NN B-NP *
products NNS I-NP *
COMMA , O *
which WDT B-NP (S*
typically RB O (S*
follow VB O *
price NN B-NP *
fluctuations NNS I-NP *
of IN B-PP *
primary JJ B-NP *
ingots NNS I-NP *S)S)S)S)
. . O *S)

The DT B-NP (S*
base NN I-NP *
metal NN I-NP *
price NN I-NP *
has VBZ B-VP *
dropped VBN I-VP *
30.3 CD B-NP *
% NN I-NP *
from IN B-PP *
a DT B-NP *
year NN I-NP *
earlier RBR B-ADVP *
to TO O *
78 CD B-NP *
cents NNS I-NP *
a DT B-NP *
pound NN I-NP *
. . O *S)

Much RB B-NP (S(S*
of IN B-PP *
the DT B-NP *
price NN I-NP *
decline NN I-NP *
has VBZ B-VP *
been VBN I-VP *
blamed VBN I-VP *
on IN B-PP *
a DT B-NP *
slowing VBG I-NP *
economy NN I-NP *S)
and CC O *
the DT B-NP (S*
third JJ I-NP *
quarter NN I-NP *
is VBZ B-VP *
typically RB B-ADVP *
the DT B-NP *
industry NN I-NP *
's POS B-NP *
slowest JJS I-NP *
period NN I-NP *S)
. . O *S)

But CC O (S*
William NNP B-NP *
O. NNP I-NP *
Bourke NNP I-NP *
COMMA , O *
chairman NN B-NP *
and CC O *
chief JJ B-NP *
executive JJ I-NP *
officer NN I-NP *
COMMA , O *
said VBD B-VP *
the DT B-NP (S(S*
ingot NN I-NP *
price NN I-NP *
`` `` O *
appears VBZ B-VP *
to TO I-VP (S*
have VB I-VP *
bottomed VBN I-VP *
out IN B-PRT *S)S)S)
. . O *
'' '' O *S)

He PRP B-NP (S*
said VBD B-VP *
shipments NNS B-NP (S(S(S*
are VBP B-VP *
continuing VBG I-VP *
at IN B-PP *
a DT B-NP *
`` `` I-NP *
healthy JJ I-NP *
'' '' I-NP *
pace NN I-NP *S)S)
and CC O *
the DT B-NP (S(S*
company NN I-NP *
has VBZ B-VP *
no DT B-NP *
excess JJ I-NP *
inventory NN I-NP *S)S)S)
. . O *S)

Aluminum JJ B-NP (S(S*
shipments NNS I-NP *
of IN B-PP *
329COMMA600 CD B-NP *
metric JJ I-NP *
tons NNS I-NP *
were VBD B-VP *
nearly RB B-ADJP *
equal JJ I-ADJP *
to TO B-PP *
the DT B-NP *
year-earlier JJ I-NP *
period NN I-NP *S)
COMMA , O *
the DT B-NP *
company NN I-NP *
said VBD B-VP *
. . O *S)

Nevertheless RB B-ADVP (S*
COMMA , O *
the DT B-NP *
company NN I-NP *
said VBD B-VP *
that IN B-SBAR (S*
in IN B-PP (S*
the DT B-NP *
latest JJS I-NP *
quarter NN I-NP *
there EX B-NP *
were VBD B-VP *
increased VBN I-VP *
material NN B-NP *
and CC I-NP *
labor NN I-NP *
costs NNS I-NP *
COMMA , O *
including VBG B-PP *
a DT B-NP *
new JJ I-NP *
employee NN I-NP *
profit-sharing NN I-NP *
plan NN I-NP *S)S)
. . O *S)

In IN B-PP (S*
composite JJ B-NP *
trading NN I-NP *
on IN B-PP *
the DT B-NP *
New NNP I-NP *
York NNP I-NP *
Stock NNP I-NP *
Exchange NNP I-NP *
COMMA , O *
Reynolds NNP B-NP *
closed VBD B-VP *
at IN B-PP *
$ $ B-NP *
55.375 CD I-NP *
COMMA , O *
up IN B-ADVP *
$ $ B-NP *
1.25 CD I-NP *
. . O *S)

No DT B-NP *
strikeout NN I-NP *
COMMA , B-NP *
but CC I-NP *
certainly RB I-NP *
no DT B-NP *
home NN I-NP *
run NN I-NP *
. . O *

That DT B-NP (S*
's VBZ B-VP *
how WRB B-ADVP (S*
the DT B-NP (S*
stock-picking JJ I-NP *
game NN I-NP *
is VBZ B-VP *
shaping VBG I-VP *
up IN B-PRT *
for IN B-PP *
the DT B-NP *
months NNS I-NP *
ahead RB B-ADVP *
COMMA , O *
according VBG B-PP *
to TO B-PP *
money NN B-NP *
managers NNS I-NP *
and CC O *
a DT B-NP *
few JJ I-NP *
brokers NNS I-NP *S)S)
. . O *S)

Yesterday NN B-NP (S*
's POS B-NP *
88-point JJ I-NP *
recovery NN I-NP *
from IN B-PP *
Friday NNP B-NP *
's POS B-NP *
megadrop NN I-NP *
in IN B-PP *
the DT B-NP *
Dow NNP I-NP *
Jones NNP I-NP *
industrials NNS I-NP *
had VBD B-VP *
many JJ B-NP *
brokerage NN I-NP *
houses NNS I-NP *
proclaiming VBG B-VP *
that IN B-SBAR (S*
stocks NNS B-NP (S*
are VBP B-VP *
a DT B-NP *
good JJ I-NP *
bargain NN I-NP *
again RB B-ADVP *S)S)
. . O *S)

But CC O (S*
quite RB O *
a DT O *
few JJ O *
money NN O *
managers NNS O *
are VBP B-VP *
n't RB I-VP *
buying VBG I-VP *
it PRP B-NP *
. . O *S)

Weakening VBG B-VP (S*
corporate JJ B-NP *
earnings NNS I-NP *
COMMA , O *
they PRP B-NP (S*
say VBP B-VP *S)
COMMA , O *
are VBP B-VP *
no DT B-NP *
prescription NN I-NP *
for IN B-PP *
a DT B-NP *
bull NN I-NP *
market NN I-NP *
. . O *S)

`` `` O (S(S*
The DT B-NP *
stock NN I-NP *
market NN I-NP *
ai VBP B-VP *
n't RB I-VP *
going VBG I-VP *
to TO I-VP *
do VB I-VP *
much NN B-NP *
of IN B-PP *
anything NN B-NP *
'' '' O *
for IN B-PP *
a DT B-NP *
while NN I-NP *S)
COMMA , O *
says VBZ B-VP *
John NNP B-NP *
Neff NNP I-NP *
of IN B-PP *
Wellington NNP B-NP *
Management NNP I-NP *
COMMA , O *
who WP B-NP (S*
runs VBZ B-VP (S*
the DT B-NP *
$ $ I-NP *
8.3 CD I-NP *
billion CD I-NP *
Windsor NNP I-NP *
Fund NNP I-NP *S)S)
. . O *S)

He PRP B-NP (S*
suspects VBZ B-VP *
that IN B-SBAR (S*
Friday NNP B-NP (S*
's POS B-NP *
market NN I-NP *
decline NN I-NP *
may MD B-VP *
have VB I-VP *
a DT B-NP *
second JJ I-NP *
leg NN I-NP *
COMMA , O *
perhaps RB B-ADVP *
a DT B-NP *
10 CD I-NP *
% NN I-NP *
to TO O *
15 CD B-NP *
% NN I-NP *
drop NN I-NP *
later RB O *
on RB O *S)S)
. . O *S)

Mr. NNP B-NP (S*
Neff NNP I-NP *
says VBZ B-VP *
the DT B-NP (S(S*
stock NN I-NP *
market NN I-NP *
has VBZ B-VP *
lost VBN I-VP *
some DT B-NP *
powerful JJ I-NP *
driving NN I-NP *
forces NNS I-NP *
COMMA , O *
namely RB B-ADVP *
earnings NNS B-NP *
growth NN I-NP *
and CC O *
the DT B-NP *
`` `` I-NP *
LBO NNP I-NP *
sweepstakes NN I-NP *
'' '' O *
-- : O *
buy-out NN B-NP *
fever NN I-NP *
that WDT B-NP (S*
induced VBD B-VP (S*
investors NNS B-NP (S*
to TO B-VP *
bid VB I-VP *
up IN B-PRT *
whole JJ B-NP *
groups NNS I-NP *
of IN B-PP *
stocks NNS B-NP *
COMMA , O *
such JJ B-PP *
as IN I-PP *
media NNS B-NP *
and CC I-NP *
airlines NNS I-NP *S)S)S)S)S)
. . O *S)

After IN B-PP (S*
sitting VBG B-VP (S*
with IN O *
20 CD O *
% NN O *
of IN B-PP *
his PRP$ B-NP *
fund NN I-NP *
in IN B-PP *
cash NN B-NP *
before IN B-PP *
Friday NNP B-NP *
's POS B-NP *
sell-off NN I-NP *S)
COMMA , O *
Mr. NNP B-NP *
Neff NNP I-NP *
says VBZ B-VP *
he PRP B-NP (S(S*
bought VBD B-VP *
`` `` O *
a DT B-NP *
narrow JJ I-NP *
list NN I-NP *
of IN B-PP *
stocks NNS B-NP *
'' '' O *
yesterday NN B-NP *S)S)
. . O *S)

With IN B-PP (S*
flat JJ B-NP *
corporate JJ I-NP *
profits NNS I-NP *
on IN B-PP *
the DT B-NP *
horizon NN I-NP *
for IN B-PP *
1990 CD B-NP *
COMMA , O *
money NN B-NP *
managers NNS I-NP *
say VBP B-VP *
price-earnings JJ B-NP (S(S*
multiples NNS I-NP *
that WDT B-NP (S*
look VBP B-VP (S*
cheap JJ B-NP *
today NN I-NP *S)S)
might MD B-VP *
go VB I-VP *
on IN B-PP *
being VBG B-VP (S*
cheap JJ B-ADJP *
for IN B-PP *
a DT B-NP *
long JJ I-NP *
time NN I-NP *S)S)S)
. . O *S)

`` `` O (S*
This DT B-NP (S(S*
is VBZ B-VP *
not RB O *
a DT B-NP *
grossly RB I-NP *
overvalued VBN I-NP *
market NN I-NP *S)
COMMA , O *
but CC O *
it PRP B-NP (S*
's VBZ B-VP *
not RB O *
cheap JJ O *
either DT O *S)S)
COMMA , O *
'' '' O *
says VBZ B-VP *
George NNP B-NP *
Collins NNP I-NP *
COMMA , O *
president NN B-NP *
of IN B-PP *
the DT B-NP *
mutual JJ I-NP *
fund NN I-NP *
company NN I-NP *
T. NNP I-NP *
Rowe NNP I-NP *
Price NNP I-NP *
Associates NNPS I-NP *
in IN B-PP *
Baltimore NNP B-NP *
. . O *S)

According VBG B-PP (S*
to TO B-PP *
Institutional JJ B-NP *
Brokers NNP I-NP *
Estimate NNP I-NP *
System NNP I-NP *
COMMA , O *
Wall NNP B-NP *
Street NNP I-NP *
market NN I-NP *
strategists NNS I-NP *
see VBP B-VP *
only RB B-ADVP *
a DT B-NP *
2.4 CD I-NP *
% NN I-NP *
jump NN I-NP *
in IN B-PP *
company NN B-NP *
profits NNS I-NP *
in IN B-PP *
1990 CD B-NP *
-- : O *
unlike IN B-PP *
in IN B-PP *
1987 CD B-NP *
COMMA , O *
when WRB B-ADVP (S*
profits VBZ B-VP (S(S*
a DT B-NP *
year NN I-NP *
out IN B-PP *
looked VBN O *
good JJ O *S)
( -LRB- O *
they PRP B-NP (S*
did VBD B-VP *
soar VB I-VP *
36 CD B-NP *
% NN I-NP *
in IN B-PP *
1988 CD B-NP *S)
) -RRB- O *S)S)
. . O *S)

Bulls NNS B-NP (S*
say VBP B-VP *
the DT B-NP (S(S*
market NN I-NP *
is VBZ B-VP *
an DT B-NP *
incredible JJ I-NP *
bargain NN I-NP *
COMMA , O *
priced VBN B-VP (S*
at IN B-PP *
only RB B-NP *
about IN I-NP *
12 CD I-NP *
times NNS I-NP *
estimated VBN B-VP *
1989 CD B-NP *
earnings NNS I-NP *
for IN B-PP *
stocks NNS B-NP *
in IN B-PP *
the DT B-NP *
Standard NNP I-NP *
& CC I-NP *
Poor NNP I-NP *
's POS B-NP *
500 CD I-NP *
index NN I-NP *S)S)S)
. . O *S)

Before IN B-PP (S*
the DT B-NP *
1987 CD I-NP *
crash NN I-NP *
COMMA , O *
the DT B-NP *
P\/E NNP I-NP *
was VBD B-VP *
more JJR O *
than IN O *
20 CD O *
. . O *S)

The DT B-NP (S*
common JJ I-NP *
view NN I-NP *
COMMA , O *
says VBZ B-VP (S*
Abby NNP B-NP *
Cohen NNP I-NP *
COMMA , O *
strategist NN B-NP *
for IN B-PP *
Drexel NNP B-NP *
Burnham NNP I-NP *
Lambert NNP I-NP *
COMMA , O *S)
is VBZ B-VP *
that IN B-SBAR (S*
there EX B-NP (S(S*
will MD B-VP *
be VB I-VP *
`` `` O *
mild JJ B-NP *
economic JJ I-NP *
growth NN I-NP *
COMMA , O *
modest JJ B-NP *
profit NN I-NP *
expansion NN I-NP *S)
COMMA , O *
and CC O *
things NNS B-NP (S*
are VBP B-VP *
going VBG I-VP *
to TO I-VP *
be VB I-VP *
hunky-dory JJ B-ADJP *S)S)S)
. . O *S)

Our PRP$ B-NP (S*
view NN I-NP *
is VBZ B-VP *
that IN B-SBAR (S*
we PRP B-NP (S*
may MD B-VP *
see VB I-VP *
a DT B-NP *
profit NN I-NP *
decline NN I-NP *S)S)
. . O *
'' '' O *S)

Some DT B-NP (S*
think NN I-NP *
investors NNS I-NP (S(S*
should MD B-VP *
sell VB I-VP *
into IN B-PP *
rallies NNS B-NP *S)S)
. . O *S)

The DT B-NP (S(S*
market NN I-NP *
`` `` O *
is VBZ B-VP *
going VBG I-VP *
to TO I-VP *
wind VB I-VP *
down RB B-PRT *S)
COMMA , O *
'' '' O *
says VBZ B-VP *
Gerald NNP B-NP *
W. NNP I-NP *
Perritt NNP I-NP *
COMMA , O *
a DT B-NP *
Chicago NNP I-NP *
money NN I-NP *
manager NN I-NP *
. . O *S)

`` `` O (S*
Things NNS B-NP *
are VBP B-VP *
a DT O *
little RB O *
less RBR O *
overpriced VBN O *
'' '' O *
after IN B-PP *
Friday NNP B-NP *
's POS B-NP *
jolt NN I-NP *
in IN B-PP *
the DT B-NP *
market NN I-NP *
. . O *S)

He PRP B-NP (S*
expects VBZ B-VP *
stocks NNS B-NP (S*
to TO B-VP *
decline VB I-VP *
an DT B-NP *
additional JJ I-NP *
5 NN I-NP *
% NN I-NP *
to TO I-NP *
30 CD I-NP *
% NN I-NP *
COMMA , O *
with IN B-PP *
the DT B-NP (S*
Dow NNP I-NP *
perhaps RB O *
bottoming VBG O *
out IN O *
between IN B-PP *
2000 CD B-NP *
and CC I-NP *
2100 CD I-NP *
`` `` O *
between IN B-PP *
now RB O *
and CC O *
June NNP O *S)S)
. . O *
'' '' O *S)

After IN O (S*
Friday NNP B-NP *
's POS B-NP *
decline NN I-NP *
COMMA , O *
Mr. NNP B-NP *
Perritt NNP I-NP *
's POS B-NP *
firm NN I-NP *
ran VBD B-VP *
statistical JJ B-NP *
tests NNS I-NP *
on IN B-PP *
100 CD B-NP *
high-quality JJ I-NP *
stocks NNS I-NP *
COMMA , O *
using VBG B-VP (S*
old-fashioned JJ B-NP *
value NN I-NP *
criteria NNS I-NP *
devised VBN B-VP *
by IN B-PP *
Benjamin NNP B-NP *
Graham NNP I-NP *
COMMA , O *
an DT B-NP *
analyst NN I-NP *
and CC I-NP *
author NN I-NP *
in IN B-PP *
the DT B-NP *
1930s CD I-NP *
and CC I-NP *
1940s CD I-NP *
who WP B-NP (S*
is VBZ B-VP (S*
widely RB I-VP *
considered VBN I-VP *
to TO I-VP (S*
be VB I-VP *
the DT B-NP *
father NN I-NP *
of IN B-PP *
modern JJ B-NP *
securities NNS I-NP *
analysis NN B-NP *S)S)S)S)
. . O *S)

He PRP B-NP (S*
found VBD B-VP *
85 CD O *
still RB O *
overvalued VBN O *
and CC O *
15 CD O *
fairly RB O *
valued VBN O *
. . O *S)

Nicholas NNP B-NP (S*
Parks NNP I-NP *
COMMA , O *
a DT B-NP *
New NNP I-NP *
York NNP I-NP *
money NN I-NP *
manager NN I-NP *
COMMA , O *
expects VBZ B-VP *
the DT B-NP (S*
market NN I-NP *
to TO B-VP *
decline VB I-VP *
about IN B-NP *
15 CD I-NP *
% NN I-NP *S)
. . O *S)

`` `` O (S*
I PRP B-NP (S(S*
've VBP B-VP *
been VBN I-VP *
two-thirds NNS B-NP *
in IN B-PP *
cash NN B-NP *
since IN B-PP *
July NNP B-NP *S)
COMMA , O *
and CC O *
I PRP B-NP (S*
continue VBP B-VP *
to TO I-VP *
think VB I-VP *
that IN B-SBAR (S*
having VBG B-VP (S(S*
a DT B-NP *
defensive JJ I-NP *
position NN I-NP *S)
is VBZ B-VP *
appropriate JJ B-ADJP *S)S)S)S)
COMMA , O *
'' '' O *
he PRP B-NP *
says VBZ B-VP *
. . O *S)

Companies NNS B-NP (S*
that WDT B-NP (S*
piled VBD B-VP (S*
on IN B-PP *
debt NN B-NP *
in IN B-PP *
leveraged JJ B-NP *
buy-outs NNS I-NP *
during IN B-PP *
the DT B-NP *
past JJ I-NP *
two CD I-NP *
years NNS I-NP *S)S)
`` `` O *
will MD B-VP *
continue VB I-VP *
to TO I-VP *
surface VB I-VP *
as IN B-PP *
business NN B-NP *
problems NNS I-NP *
. . O *
'' '' O *S)

`` `` O (S*
Generalizations NNS B-NP (S*
about IN B-PP *
value NN B-NP *
are VBP B-VP *
n't RB O *
useful JJ B-ADJP *S)
COMMA , O *
'' '' O *
says VBZ B-VP *
New NNP B-NP *
York NNP I-NP *
money NN I-NP *
manager NN I-NP *
John NNP I-NP *
LeFrere NNP I-NP *
of IN B-PP *
Delta NNP B-NP *
Capital NNP I-NP *
Management NNP I-NP *
. . O *S)

For IN B-PP (S*
instance NN B-NP *
COMMA , O *
he PRP B-NP (S*
says VBZ B-VP *S)
COMMA , O *
International NNP B-NP (S*
Business NNP I-NP *
Machines NNPS I-NP *
and CC I-NP *
Unisys NNP I-NP *
might MD B-VP *
look VB I-VP *
cheap JJ B-ADJP *S)
COMMA , O *
but CC O *
investors NNS B-NP (S*
might MD B-VP *
continue VB I-VP *
to TO I-VP *
do VB I-VP *
better JJR B-NP *
with IN B-PP *
stocks NNS B-NP *
like IN B-PP *
Walt NNP B-NP *
Disney NNP I-NP *
COMMA , O *
Procter NNP B-NP *
& CC I-NP *
Gamble NNP I-NP *
and CC O *
Coca-Cola NNP B-NP *
COMMA , O *
strong JJ B-NP *
performers NNS I-NP *
in IN B-PP *
recent JJ B-NP *
years NNS I-NP *S)
. . O *S)

Money NN B-NP (S*
manager NN I-NP *
Robert NNP I-NP *
Ross NNP I-NP *
COMMA , O *
head NN B-NP *
of IN B-PP *
Duncan NNP B-NP *
Ross NNP I-NP *
Associates NNP I-NP *
Ltd. NNP I-NP *
in IN B-PP *
Vancouver NNP B-NP *
COMMA , O *
British NNP B-NP *
Columbia NNP I-NP *
COMMA , O *
says VBZ B-VP *
stocks NNS B-NP (S(S*
would MD B-VP *
have VB I-VP *
to TO I-VP *
fall VB I-VP *
15 CD B-NP *
% NN I-NP *
to TO O *
20 CD O *
% NN O *
before IN B-SBAR (S*
they PRP B-NP (S*
are VBP B-VP *
competitive JJ B-ADJP *
with IN B-PP *
less RBR B-NP *
risky JJ I-NP *
investment NN I-NP *
alternatives NNS I-NP *S)S)S)S)
. . O *S)

Fredric NNP B-NP (S*
Russell NNP I-NP *
COMMA , O *
a DT B-NP *
money NN I-NP *
manager NN I-NP *
in IN B-PP *
Tulsa NNP B-NP *
COMMA , O *
Okla. NNP B-NP *
COMMA , O *
says VBZ B-VP *
Friday NNP B-NP (S(S*
's POS B-NP *
cave-in NN I-NP *
`` `` O *
is VBZ B-VP *
going VBG I-VP *
to TO I-VP *
have VB I-VP *
more JJR B-NP *
of IN B-PP *
a DT B-NP *
permanent JJ I-NP *
impact NN I-NP *
on IN B-PP *
the DT B-NP *
psyche NN I-NP *
of IN B-PP *
many JJ B-NP *
investors NNS I-NP *
than IN B-PP (S*
Wall NNP B-NP (S*
Street NNP I-NP *
would MD B-VP *
want VB I-VP *
to TO I-VP *
admit VB I-VP *S)S)S)S)
. . O *
'' '' O *S)

There EX B-NP (S*
are VBP B-VP *
still JJ B-NP *
bulls NNS I-NP *
out IN B-ADVP *
there RB I-ADVP *
. . O *S)

`` `` O (S*
I PRP B-NP (S(S*
still RB B-ADVP *
think VBP B-VP *
we PRP B-NP (S(S*
will MD B-VP *
have VB I-VP *
a DT B-NP *
3000 CD I-NP *
Dow NNP I-NP *S)S)S)
COMMA , O *
whether IN B-SBAR (S(S*
it PRP B-NP (S*
's VBZ B-VP *
six CD B-NP *
months NNS I-NP *
or CC O *
12 CD B-NP *
months NNS I-NP *
from IN B-PP *
now RB B-NP *S)S)
I PRP B-NP *
do VBP B-VP *
n't RB I-VP *
know VB I-VP *S)S)
COMMA , O *
'' '' O *
says VBZ B-VP *
David NNP B-NP *
Dreman NNP I-NP *
COMMA , O *
managing VBG B-NP *
partner NN I-NP *
of IN B-PP *
Dreman NNP B-NP *
Value NNP I-NP *
Management NNP I-NP *
in IN B-PP *
New NNP B-NP *
York NNP I-NP *
. . O *S)

`` `` O (S*
We PRP B-NP *
're VBP B-VP *
doing VBG I-VP *
a DT B-NP *
little JJ I-NP *
buying NN I-NP *
'' '' O *
in IN B-PP *
some DT B-NP *
stocks NNS I-NP *
`` `` O (S*
that WDT B-NP *
have VBP B-VP (S*
really RB I-VP *
been VBN I-VP *
smashed VBN I-VP *
down RB B-PRT *S)S)
. . O *
'' '' O *S)

Many JJ B-NP (S*
brokerage NN I-NP *
house NN I-NP *
officials NNS I-NP *
also RB B-ADVP *
are VBP B-VP *
optimistic JJ B-ADJP *
. . O *S)

Yesterday NN B-NP (S*
COMMA , O *
Goldman NNP B-NP *
Sachs NNP I-NP *
COMMA , O *
Merrill NNP B-NP *
Lynch NNP I-NP *
and CC O *
Dean NNP B-NP *
Witter NNP I-NP *
all DT O *
increased VBN B-VP *
the DT B-NP *
proportion NN I-NP *
of IN B-PP *
assets NNS B-NP *
they PRP B-NP (S(S*
recommend VBP B-VP *
investors NNS B-NP (S(S*
commit VBP B-VP *
to TO B-PP *
stocks NNS B-NP *S)S)S)S)
. . O *S)

Dean NNP B-NP (S(S*
Witter NNP I-NP *
now RB B-ADVP *
recommends VBZ B-VP *
85 CD B-NP *
% NN I-NP *S)
COMMA , O *
Goldman NNP B-NP (S*
65 CD B-NP *
% NN I-NP *S)
and CC O *
Merrill NNP O (S*
Lynch NNP O *
50 CD B-NP *
% NN I-NP *S)
. . O *S)

Some DT B-NP (S*
investors NNS I-NP *
say VBP B-VP *
Friday NNP B-NP (S(S*
's POS B-NP *
sell-off NN I-NP *
was VBD B-VP *
a DT B-NP *
good JJ I-NP *
thing NN I-NP *
COMMA , O *
because IN B-SBAR (S*
it PRP B-NP (S*
deflated VBD B-VP *
a DT B-NP *
lot NN I-NP *
of IN B-PP *
crazy JJ B-NP *
takeover NN I-NP *
speculation NN I-NP *S)S)S)S)
. . O *S)

`` `` O (S*
It PRP B-NP (S*
was VBD B-VP *
a DT B-NP *
healthy JJ I-NP *
cleansing NN I-NP *S)
COMMA , O *
'' '' O *
says VBZ B-VP *
Michael NNP B-NP *
Holland NNP I-NP *
COMMA , O *
who WP B-NP (S*
runs VBZ B-VP (S*
Salomon NNP B-NP *
Brothers NNP I-NP *
Asset NNP I-NP *
Management NNP I-NP *
in IN B-PP *
New NNP B-NP *
York NNP I-NP *S)S)
. . O *S)

From IN B-PP (S*
here RB B-ADVP *
out IN B-ADVP *
COMMA , O *
these DT B-NP *
investors NNS I-NP *
see VBP B-VP *
a DT B-NP *
return NN I-NP *
to TO B-PP *
old-fashioned JJ B-NP *
investing NN I-NP *
COMMA , O *
based VBN B-PP *
on IN B-PP *
a DT B-NP *
company NN I-NP *
's POS B-NP *
ability NN I-NP *
to TO B-VP (S*
show VB I-VP *
profit NN B-NP *
growth NN I-NP *S)
. . O *S)

`` `` O (S*
The DT B-NP (S*
fundamentals NNS I-NP *
are VBP B-VP *
pretty RB B-ADJP *
strong JJ I-ADJP *S)
COMMA , O *
'' '' O *
Mr. NNP B-NP *
Dreman NNP I-NP *
says VBZ B-VP *
. . O *S)

`` `` O (S*
I PRP B-NP *
do VBP B-VP *
n't RB I-VP *
see VB I-VP *
this DT B-NP *
as IN B-PP *
a DT B-NP *
bear NN I-NP *
market NN I-NP *
at IN B-ADVP *
all DT I-ADVP *
. . O *S)

It PRP B-NP (S*
's VBZ B-VP *
a DT B-NP *
recognition NN I-NP *
that IN B-SBAR (S*
there EX B-NP (S*
was VBD B-VP *
much JJ O *
too RB B-NP *
much JJ I-NP *
fluff NN I-NP *
in IN B-PP *
the DT B-NP *
LBO NNP I-NP *
market NN I-NP *S)S)
. . O *
'' '' O *S)

Friday NNP B-NP (S(S*
's POS B-NP *
big JJ I-NP *
fall NN I-NP *
was VBD B-VP *
`` `` O *
just RB B-NP *
a DT I-NP *
blunder NN I-NP *
by IN B-PP *
the DT B-NP *
stock NN I-NP *
market NN I-NP *S)
COMMA , O *
'' '' O *
says VBZ B-VP *
John NNP B-NP *
Connolly NNP I-NP *
COMMA , O *
chief JJ B-NP *
strategist NN I-NP *
for IN B-PP *
Dean NNP B-NP *
Witter NNP I-NP *
. . O *S)

`` `` O (S*
It PRP B-NP *
was VBD B-VP *
an DT B-NP *
overreaction NN I-NP *
to TO B-PP *
an DT B-NP *
event NN I-NP *
{ -LRB- B-PP *
the DT B-NP *
failure NN I-NP *
of IN B-PP *
a DT B-NP *
management NN I-NP *
and CC I-NP *
union NN I-NP *
group NN I-NP *
to TO B-VP (S*
get VB I-VP *
bank NN B-NP *
financing NN I-NP *
for IN B-PP *
a DT B-NP *
takeover NN I-NP *
of IN B-PP *
UAL NNP B-NP *S)
} -RRB- I-NP *
that WDT B-NP (S*
does VBZ B-VP (S*
n't RB I-VP *
mean VB I-VP *
that IN B-NP *
much JJ I-NP *
to TO B-PP *
lots NNS B-NP *
of IN B-PP *
stocks NNS B-NP *S)S)
. . O *
'' '' O *S)

Many JJ B-NP (S*
investors NNS I-NP *
have VBP B-VP *
nagging JJ B-NP *
worries NNS I-NP *
COMMA , O *
however RB B-ADVP *
. . O *S)

Newspapers NNS B-NP (S*
are VBP B-VP *
full JJ B-ADJP *
of IN B-PP *
headlines NNS B-NP *
about IN B-PP *
companies NNS B-NP *
defaulting VBG B-VP *
on IN B-PP *
their PRP$ B-NP *
debts NNS I-NP *
and CC I-NP *
banks NNS I-NP *
writing VBG B-VP *
off IN B-PP *
real JJ B-NP *
estate NN I-NP *
loans NNS I-NP *
. . O *S)

That DT B-NP (S*
hurts VBZ B-VP *
investors NNS B-NP *
' POS B-NP *
confidence NN I-NP *
in IN B-PP *
the DT B-NP *
economy NN I-NP *
and CC I-NP *
stocks NNS I-NP *
. . O *S)

Not RB O (S*
even RB O *
all PDT B-NP *
the DT I-NP *
brokerage NN I-NP *
firms NNS I-NP *
see VBP B-VP *
clear JJ B-NP *
sailing NN I-NP *
ahead RB B-ADVP *
. . O *S)

`` `` O (S*
Disappointing JJ B-NP (S*
profits NNS I-NP *
are VBP B-VP *
likely JJ B-ADJP *
to TO B-VP (S*
get VB I-VP *
worse JJR B-ADJP *
in IN B-PP *
the DT B-NP *
next JJ I-NP *
two CD I-NP *
quarters NNS I-NP *S)S)
COMMA , O *
'' '' O *
says VBZ B-VP *
Mary NNP B-NP *
Farrell NNP I-NP *
COMMA , O *
a DT B-NP *
market NN I-NP *
strategist NN I-NP *
at IN B-PP *
PaineWebber NNP B-NP *
. . O *S)

She PRP B-NP (S*
thinks VBZ B-VP *
the DT B-NP (S(S*
market NN I-NP *
could MD B-VP *
drop VB I-VP *
about IN B-NP *
10 CD I-NP *
% NN I-NP *
in IN B-PP *
the DT B-NP *
next JJ I-NP *
few JJ I-NP *
months NNS I-NP *
COMMA , O *
then RB O *
recover VB B-VP *
and CC I-VP *
go VB I-VP *
higher JJR O *S)S)
. . O *S)

Companies NNS B-NP (S*
with IN B-PP *
steady JJ B-NP *
earnings NNS I-NP *
growth NN I-NP *
could MD B-VP *
do VB I-VP *
well RB B-ADVP *
COMMA , O *
she PRP B-NP (S*
says VBZ B-VP *S)
COMMA , O *
while IN O (S*
others NNS B-NP (S*
with IN B-PP *
high JJ B-NP *
debt NN I-NP *
or CC O *
poor JJ B-NP *
earnings NNS I-NP *
could MD B-VP *
see VB I-VP *
their PRP$ B-NP (S*
shares NNS I-NP *
decline VBP B-VP *
far RB B-NP *
more JJR I-NP *
than IN I-NP *
10 CD I-NP *
% NN I-NP *S)S)S)
. . O *S)

The DT B-NP (S(S*
turmoil NN I-NP *
on IN B-PP *
Wall NNP B-NP *
Street NNP I-NP *
may MD B-VP *
benefit VB I-VP *
some DT B-NP *
retailers NNS I-NP *
attempting VBG B-VP *
to TO I-VP *
lead VB I-VP *
leveraged JJ B-NP *
buy-outs NNS I-NP *
of IN B-PP *
their PRP$ B-NP *
specialty NN I-NP *
and CC I-NP *
department-store NN I-NP *
chains NNS I-NP *S)
COMMA , O *
investment NN B-NP *
bankers NNS I-NP *
and CC I-NP *
retailers NNS I-NP *
said VBD B-VP *
. . O *S)

Managers NNS B-NP (S*
at IN B-PP *
five CD B-NP *
chains NNS I-NP *
have VBP B-VP *
said VBD I-VP *
in IN B-PP *
recent JJ B-NP *
weeks NNS I-NP *
that IN B-SBAR (S*
they PRP B-NP (S*
intend VBP B-VP *
to TO I-VP *
bid VB I-VP *
for IN B-PP *
their PRP$ B-NP *
companies NNS I-NP *S)S)
. . O *S)

The DT B-NP (S*
chains NNS I-NP *
include VBP B-VP *
Bloomingdale NNP B-NP *
's POS B-NP *
COMMA , O *
owned VBN B-VP *
by IN B-PP *
Campeau NNP B-NP *
Corp. NNP I-NP *
COMMA , O *
Toronto NNP B-NP *
; : O *
Saks NNP B-NP *
Fifth NNP I-NP *
Avenue NNP I-NP *
and CC O *
Marshall NNP B-NP *
Field NNP I-NP *
's POS B-NP *
COMMA , O *
owned VBN B-VP *
by IN B-PP *
B.A.T NNP B-NP *
Industries NNP I-NP *
PLC NNP I-NP *
COMMA , O *
London NNP B-NP *
; : O *
and CC O *
B. NNP B-NP *
Altman NNP I-NP *
& CC I-NP *
Co. NNP I-NP *
and CC O *
Sakowitz NNP B-NP *
Inc. NNP I-NP *
COMMA , O *
owned VBN B-VP *
by IN B-PP *
Hooker NNP B-NP *
Corp. NNP I-NP *
COMMA , O *
which WDT B-NP (S*
is VBZ B-VP (S*
now RB I-VP *
being VBG I-VP *
managed VBN I-VP *
by IN B-PP *
a DT B-NP *
court-appointed JJ I-NP *
provisional JJ I-NP *
liquidator NN I-NP *S)S)
. . O *S)

Hooker NNP B-NP (S*
is VBZ B-VP *
based VBN I-VP *
in IN B-PP *
Sydney NNP B-NP *
COMMA , O *
Australia NNP B-NP *
. . O *S)

The DT B-NP (S(S*
combination NN I-NP *
of IN B-PP *
so RB B-NP *
many JJ I-NP *
chains NNS I-NP *
available JJ B-ADJP *
for IN B-PP *
sale NN B-NP *
COMMA , O *
the DT B-NP *
recent JJ I-NP *
failures NNS I-NP *
of IN B-PP *
such JJ B-NP *
retailing NN I-NP *
LBO NNP B-NP *
's POS B-NP *
as IN B-PP *
Miller NNP B-NP *
& CC I-NP *
Rhoads NNP I-NP *
Inc. NNP I-NP *
and CC O *
declining VBG O *
investor NN O *
confidence NN O *
will MD B-VP *
drive VB I-VP *
down RB B-PRT *
prices VBZ B-NP *S)
COMMA , O *
retailing NN B-NP *
observers NNS I-NP *
said VBD B-VP *
. . O *S)

`` `` O (S*
The DT B-NP (S*
pricing NN I-NP *
will MD B-VP *
become VB I-VP *
more RBR B-ADJP *
realistic JJ I-ADJP *
COMMA , O *
which WDT B-NP (S*
should MD B-VP (S*
help VB I-VP *
management NN B-NP *S)S)S)
COMMA , O *
'' '' O *
said VBD B-VP *
Bruce NNP B-NP *
Rosenthal NNP I-NP *
COMMA , O *
a DT B-NP *
New NNP I-NP *
York NNP I-NP *
investment NN I-NP *
banker NN I-NP *
with IN B-PP *
Nathan NNP B-NP *
S. NNP I-NP *
Jonas NNP I-NP *
& CC I-NP *
Co NNP I-NP *
. . O *S)

`` `` O (S*
Investors NNS B-NP (S*
are VBP B-VP *
n't RB I-VP *
going VBG I-VP *
to TO I-VP *
be VB I-VP *
throwing VBG I-VP *
money NN B-NP *
at IN B-PP *
any DT B-NP *
of IN B-PP *
the DT B-NP *
proposed VBN I-NP *
LBOs NNS I-NP *S)
COMMA , O *
but CC O *
doing VBG O (S(S*
deals NNS B-NP *
on IN B-PP *
the DT B-NP *
basis NN I-NP *
of IN B-PP *
ridiculous JJ B-NP *
assumptions NNS I-NP *S)
never RB O *
made VBN O *
sense NN O *
COMMA , O *
either RB B-ADVP *S)
. . O *
'' '' O *S)

Earlier RBR B-NP (S(S*
this DT I-NP *
year NN I-NP *
COMMA , O *
bankers NNS B-NP *
and CC O *
other JJ B-NP *
investors NNS I-NP *
were VBD B-VP *
willing JJ B-ADJP *
to TO B-VP (S*
provide VB I-VP *
financing NN B-NP *S)
because IN B-SBAR (S*
they PRP B-NP (S*
assumed VBD B-VP *
there EX B-NP (S(S*
would MD B-VP *
be VB I-VP *
major JJ B-NP *
gains NNS I-NP *
in IN B-PP *
both DT B-NP *
profitability NN I-NP *
and CC I-NP *
sales NNS I-NP *S)S)S)S)S)
COMMA , O *
Mr. NNP B-NP *
Rosenthal NNP I-NP *
added VBD B-VP *
. . O *S)

Those DT B-NP (S(S*
days NNS I-NP *
are VBP B-VP *
over IN B-PP *
now RB B-ADVP *S)
COMMA , O *
he PRP B-NP *
believes VBZ B-VP *
. . O *S)

`` `` O (S*
Competition NN B-NP (S*
from IN B-PP *
third JJ B-NP *
parties NNS I-NP *
who WP B-NP (S*
have VBP B-VP (S*
cash NN B-NP *
and CC O *
are VBP B-VP *
prepared VBN I-VP *
to TO I-VP (S*
buy VB I-VP *S)S)S)
has VBZ B-VP *
always RB I-VP *
existed VBN I-VP *
and CC O *
will MD B-VP *
continue VB I-VP *S)
COMMA , O *
'' '' O *
added VBD B-VP *
Mr. NNP B-NP *
Rosenthal NNP I-NP *
. . O *S)

`` `` O (S*
But CC O *
when WRB B-ADVP (S*
prices NNS B-NP (S*
were VBD B-VP *
crazy JJ B-ADJP *S)S)
COMMA , O *
it PRP B-NP *
was VBD B-VP *
even RB O *
harder JJR B-ADVP *
to TO B-VP (S*
do VB I-VP *
an DT B-NP *
LBO NNP I-NP *S)
. . O *S)

Bankers NNS B-NP (S*
believed VBD B-VP *
in IN B-PP *
the DT B-NP *
greater-fool JJ I-NP *
theory NN I-NP *
that WDT B-NP (S*
says VBZ B-VP (S*
somebody NN B-NP (S(S*
else RB B-ADVP *
is VBZ B-VP *
always RB O *
willing JJ B-ADJP *
to TO B-VP (S*
pay VB I-VP *
more JJR O *S)S)S)S)S)
. . O *S)

This DT B-NP (S*
is VBZ B-VP *
no RB B-ADVP *
longer RB I-ADVP *
true JJ O *
today NN O *
. . O *
'' '' O *S)

At IN B-PP (S*
Saks NNP B-NP *
Fifth NNP I-NP *
Avenue NNP I-NP *
COMMA , O *
Paul NNP B-NP *
Leblang NNP I-NP *
COMMA , O *
senior JJ B-NP *
vice NN I-NP *
president NN I-NP *
COMMA , O *
marketing NN B-NP *
COMMA , O *
agreed VBD B-VP *
that IN B-SBAR (S*
lower JJR B-NP (S*
prices NNS I-NP *
will MD B-VP *
help VB I-VP *
his PRP$ B-NP *
management NN I-NP *
team NN I-NP *
in IN B-PP *
their PRP$ B-NP *
proposed VBN I-NP *
LBO NNP I-NP *S)S)
. . O *S)

`` `` O (S*
Having VBG B-VP (S(S*
to TO I-VP *
take VB I-VP *
on IN B-PP *
less JJR B-NP *
debt NN I-NP *S)
would MD B-VP *
certainly RB I-VP *
be VB I-VP *
an DT B-NP *
advantage NN I-NP *S)
COMMA , O *
'' '' O *
said VBD B-VP *
Mr. NNP B-NP *
Leblang NNP I-NP *
. . O *S)

`` `` O (S*
It PRP B-NP *
would MD B-VP *
also RB I-VP *
help VB I-VP *
us PRP B-NP *
in IN B-PP *
our PRP$ B-NP *
search NN I-NP *
for IN B-PP *
equity NN B-NP *
partners NNS I-NP *
. . O *S)

To TO B-VP (S(S*
make VB I-VP *
an DT B-NP (S*
LBO NNP I-NP *
work NN I-NP *S)S)
COMMA , O *
now RB B-ADVP *
we PRP B-NP *
are VBP B-VP *
going VBG I-VP *
to TO I-VP *
need VB I-VP *
more JJR B-NP *
than IN B-PP *
just RB B-NP *
junk NN I-NP *
bonds NNS I-NP *
. . O *S)

'' '' B-NP (S*
None NN I-NP *
believe VBP B-VP *
the DT B-NP (S(S*
proposed VBN I-NP *
management NN I-NP *
LBOs NNS I-NP *
will MD B-VP *
be VB I-VP *
easy JJ B-ADJP *
to TO B-VP (S*
complete VB I-VP *S)S)S)
COMMA , O *
especially RB B-ADVP *
at IN B-PP *
B. NNP B-NP *
Altman NNP I-NP *
& CC I-NP *
Co. NNP I-NP *
COMMA , O *
which WDT B-NP (S*
is VBZ B-VP (S*
under IN B-PP *
Chapter NN B-NP *
11 CD I-NP *
bankruptcy NN I-NP *
protection NN I-NP *S)S)
. . O *S)

Not RB O (S*
only RB O *
could MD O (S*
the DT B-NP *
Wall NNP I-NP *
Street NNP I-NP *
gyrations NNS I-NP *
damp VBP B-VP *
Christmas NNP B-NP *
sales NNS I-NP *
if IN B-PP (S*
consumers NNS B-NP (S*
lose VBP B-VP *
confidence NN B-NP *
in IN B-PP *
the DT B-NP *
economy NN I-NP *S)S)S)
COMMA , O *
but CC O *
potential JJ B-NP (S*
junk-bond NN I-NP *
buyers NNS I-NP *
are VBP B-VP *
sure JJ B-ADJP *
to TO B-VP (S*
demand VB I-VP *
even RB B-NP *
stronger JJR I-NP *
covenants NNS I-NP *
and CC O *
greater JJR B-NP *
management NN I-NP *
equity NN I-NP *
participation NN I-NP *S)S)
. . O *S)

Further RB B-ADVP (S*
COMMA , O *
many JJ B-NP *
institutions NNS I-NP *
today NN O *
holding VBG O *
troubled JJ B-NP *
retailers NNS I-NP *
' POS B-NP *
debt NN I-NP *
securities NNS I-NP *
will MD B-VP *
be VB I-VP *
reticent JJ B-ADJP *
to TO B-VP (S*
consider VB I-VP *
additional JJ B-NP *
retailing NN I-NP *
investments NNS I-NP *S)
. . O *S)

`` `` O (S*
It PRP B-NP (S*
's VBZ B-VP *
called VBN O *
bad JJ O (S*
money NN O *
driving VBG B-VP *
out IN B-PP *
good JJ B-NP *
money NN I-NP *S)S)
COMMA , O *
'' '' O *
said VBD B-VP *
one CD B-NP *
retailing NN I-NP *
observer NN I-NP *
. . O *S)

`` `` O (S*
Institutions NNS B-NP *
that WDT B-NP (S*
usually RB B-ADVP (S*
buy VB B-VP *
retail JJ B-NP *
paper NN I-NP *S)S)
have VBP B-VP *
to TO I-VP *
be VB I-VP *
more RBR O *
concerned VBN O *
. . O *
'' '' O *S)

However RB B-ADVP (S*
COMMA , O *
the DT O *
lower JJR O *
prices VBZ B-VP *
these DT B-NP (S(S*
retail JJ I-NP *
chains NNS I-NP *
are VBP B-VP *
now RB I-VP *
expected VBN I-VP *
to TO I-VP *
bring VB I-VP *S)S)
should MD B-VP *
make VB I-VP *
it PRP B-NP *
easier JJR B-ADJP *
for IN B-SBAR (S*
managers NNS B-NP (S*
to TO B-VP *
raise VB I-VP *
the DT B-NP *
necessary JJ I-NP *
capital NN I-NP *
and CC O *
pay VB B-VP *
back RB B-ADVP *
the DT B-NP *
resulting VBG I-NP *
debt NN I-NP *S)S)
. . O *S)

In IN B-PP (S*
addition NN B-NP *
COMMA , O *
the DT B-NP *
fall NN I-NP *
selling VBG I-NP *
season NN I-NP *
has VBZ B-VP *
generally RB I-VP *
been VBN I-VP *
a DT B-NP *
good JJ I-NP *
one CD I-NP *
COMMA , O *
especially RB B-ADVP *
for IN B-PP *
those DT B-NP *
retailers NNS I-NP *
dependent JJ B-ADJP *
on IN B-PP *
apparel NN B-NP *
sales NNS I-NP *
for IN B-PP *
the DT B-NP *
majority NN I-NP *
of IN B-PP *
their PRP$ B-NP *
revenues NNS I-NP *
. . O *S)

`` `` O (S*
What WP B-NP (S(S*
's VBZ B-VP (S*
encouraging VBG I-VP *
about IN B-PP *
this DT B-NP *S)S)
is VBZ B-VP *
that IN B-SBAR (S*
retail JJ B-NP (S*
chains NNS I-NP *
will MD B-VP *
be VB I-VP *
sold VBN I-VP *
on IN B-PP *
the DT B-NP *
basis NN I-NP *
of IN B-PP *
their PRP$ B-NP *
sales NNS I-NP *
and CC I-NP *
earnings NNS I-NP *
COMMA , O *
not RB O *
liquidation NN O *
values NNS O *S)S)S)
COMMA , O *
'' '' O *
said VBD B-VP *
Joseph NNP B-NP *
E. NNP I-NP *
Brooks NNP I-NP *
COMMA , O *
chairman NN B-NP *
and CC O *
chief JJ B-NP *
executive JJ I-NP *
officer NN I-NP *
of IN B-PP *
Ann NNP B-NP *
Taylor NNP I-NP *
Inc. NNP I-NP *
COMMA , O *
a DT B-NP *
specialty NN I-NP *
chain NN I-NP *
. . O *S)

`` `` O (S*
Retailers NNS B-NP *
who WP B-NP (S*
had VBD B-VP (S*
good JJ B-NP *
track NN I-NP *
records NNS I-NP *
of IN B-PP *
producing VBG O (S*
profits NNS O *S)S)S)
will MD B-VP *
have VB I-VP *
a DT B-NP *
better JJR I-NP *
chance NN I-NP *
to TO B-VP (S*
buy VB I-VP *
back RB B-ADVP *
their PRP$ B-NP *
companies NNS I-NP *S)
. . O *
'' '' O *S)

Still RB B-ADVP (S*
COMMA , O *
most RBS B-NP *
retailing NN I-NP *
observers NNS I-NP *
expect VBP B-VP *
that IN B-SBAR (S*
all PDT B-NP (S*
the DT I-NP *
proposed VBN I-NP *
retailing NN I-NP *
LBOs NNS I-NP *
will MD B-VP *
depend VB I-VP *
partly RB B-ADVP *
on IN B-PP *
the DT B-NP *
sale NN I-NP *
of IN B-PP *
junk NN B-NP *
bonds NNS I-NP *
COMMA , O *
a DT B-NP *
market NN I-NP *
already RB B-ADVP *
in IN B-PP *
tumult NN B-NP *
COMMA , O *
in IN B-PP *
part NN B-NP *
because IN B-PP *
of IN I-PP *
concerns NNS B-NP *
associated VBN B-VP *
with IN B-PP *
bonds NNS B-NP *
issued VBN B-VP *
by IN B-PP *
the DT B-NP *
Federated NNP I-NP *
and CC I-NP *
Allied NNP I-NP *
units NNS I-NP *
of IN B-PP *
Campeau NNP B-NP *S)S)
. . O *S)

`` `` O (S*
Prices NNS B-NP (S*
for IN B-PP *
retail JJ B-NP *
chains NNS I-NP *
are VBP B-VP *
lower JJR B-NP *
today NN I-NP *
than IN B-SBAR (S*
they PRP B-NP (S*
were VBD B-VP *
last JJ B-NP *
week NN I-NP *S)S)
COMMA , O *
which WDT B-NP (S*
will MD B-VP (S*
help VB I-VP *
management NN B-NP *S)S)S)
COMMA , O *
'' '' O *
said VBD B-VP *
Gilbert NNP B-NP *
Harrison NNP I-NP *
COMMA , O *
chairman NN B-NP *
of IN B-PP *
Financo NNP B-NP *
Inc. NNP I-NP *
COMMA , O *
an DT B-NP *
investment-banking NN I-NP *
firm NN I-NP *
specializing VBG B-VP *
in IN B-PP *
retailing NN B-NP *
acquisitions NNS I-NP *
. . O *S)

`` `` O (S*
But CC O *
the DT B-NP *
hurdle NN I-NP *
of IN B-PP *
financing NN B-NP *
still RB B-ADVP *
has VBZ B-VP *
to TO I-VP *
be VB I-VP *
resolved VBN I-VP *
. . O *S)

Potential JJ B-NP (S*
bondholders NNS I-NP *
will MD O *
either DT O *
look NN O *
for IN B-PP *
greater JJR B-NP *
equity NN I-NP *
participation NN I-NP *
on IN B-PP *
behalf NN B-NP *
of IN B-PP *
management NN B-NP *
COMMA , O *
or CC O *
insist VBP B-VP *
the DT B-NP (S(S*
equity NN I-NP *
component NN I-NP *
of IN B-PP *
the DT B-NP *
deals NNS I-NP *
be VBP O *
substantially RB O *
greater JJR O *
than IN B-PP *
in IN B-PP *
the DT B-NP *
past NN I-NP *S)S)
. . O *S)

Sony NNP B-NP (S*
Corp. NNP I-NP *
won VBD B-VP *
a DT B-NP *
pretrial JJ I-NP *
order NN I-NP *
blocking VBG B-VP *
U.S. NNP B-NP *
sales NNS I-NP *
of IN B-PP *
Justin NNP B-NP *
Products NNP I-NP *
Inc. NNP I-NP *
's POS B-NP *
`` `` I-NP *
My PRP$ I-NP *
Own JJ I-NP *
'' '' I-NP *
line NN I-NP *
of IN B-PP *
portable JJ B-NP *
audio JJ I-NP *
players NNS I-NP *
for IN B-PP *
children NNS B-NP *
. . O *S)

Judge NNP B-NP (S*
John NNP I-NP *
E. NNP I-NP *
Sprizzo NNP I-NP *
issued VBD B-VP *
the DT B-NP *
order NN I-NP *
in IN B-PP *
Manhattan NNP B-NP *
federal JJ I-NP *
court NN I-NP *
COMMA , O *
where WRB B-ADVP (S*
Sony NNP O (S*
has VBZ B-VP *
accused VBN I-VP *
the DT B-NP *
tiny JJ I-NP *
company NN I-NP *
of IN B-PP *
illegally RB O (S*
knocking VBG B-VP *
off IN B-PP *
the DT B-NP *
`` `` I-NP *
My PRP$ I-NP *
First NNP I-NP *
Sony NNP I-NP *
'' '' I-NP *
line NN I-NP *S)S)S)
. . O *S)

The DT B-NP (S*
judge NN I-NP *
held VBN B-VP *
that IN B-SBAR (S*
the DT B-NP (S*
combination NN I-NP *
of IN B-PP *
colors NNS B-NP *
used VBN B-VP *
for IN B-PP *
the DT B-NP *
Sony NNP I-NP *
products NNS I-NP *
is VBZ B-VP *
distinctive JJ O *
and CC O *
subject NN O *
to TO B-PP *
protection NN B-NP *
under IN B-PP *
New NNP B-NP *
York NNP I-NP *
state NN I-NP *
law NN I-NP *
COMMA , O *
rather RB B-PP *
than IN I-PP *
federal JJ B-NP *
law NN I-NP *S)S)
. . O *S)

The DT B-NP (S*
legal JJ I-NP *
fight NN I-NP *
was VBD B-VP *
the DT B-NP *
subject NN I-NP *
of IN B-PP *
a DT B-NP *
Wall NNP I-NP *
Street NNP I-NP *
Journal NNP I-NP *
story NN I-NP *
yesterday NN B-NP *
. . O *S)

Justin NNP B-NP (S*
's POS B-NP *
attorney NN I-NP *
COMMA , O *
Charles NNP B-NP *
E. NNP I-NP *
Baxley NNP I-NP *
COMMA , O *
said VBD B-VP *
Justin NNP B-NP (S(S*
would MD B-VP *
ask VB I-VP *
an DT B-NP *
appeals NNS I-NP *
court VBP B-VP *
to TO I-VP (S*
set VB I-VP *
aside RB B-ADVP *
the DT B-NP *
order NN I-NP *
temporarily RB B-ADVP *
COMMA , O *
pending VBG B-PP *
an DT B-NP *
expedited VBN I-NP *
appeal NN I-NP *S)S)S)
. . O *S)

He PRP B-NP (S*
also RB B-ADVP *
repeated VBD B-VP *
Justin NNP B-NP *
's POS B-NP *
denial NN I-NP *
of IN B-PP *
Sony NNP B-NP *
's POS B-NP *
charges NNS I-NP *
. . O *S)

`` `` O (S*
Their PRP$ B-NP (S*
likelihood NN I-NP *
of IN B-PP *
reversing VBG B-VP (S*
us PRP B-NP *S)
is VBZ B-VP *
very RB B-ADJP *
slim JJ I-ADJP *S)
COMMA , O *
'' '' O *
said VBD B-VP *
Lewis NNP B-NP *
H. NNP I-NP *
Eslinger NNP I-NP *
COMMA , O *
Sony NNP B-NP *
's POS B-NP *
attorney NN I-NP *
COMMA , O *
who WP B-NP (S*
said VBD B-VP (S*
he PRP B-NP (S(S*
doubts VBZ B-VP *
Justin NNP B-NP (S(S*
will MD B-VP *
go VB I-VP *
ahead RB B-ADVP *
with IN B-PP *
a DT B-NP *
trial NN I-NP *S)S)S)S)S)S)
. . O *S)

CONTINENTAL NNP B-NP (S*
MORTGAGE NNP I-NP *
& CC I-NP *
EQUITY NNP I-NP *
TRUST NNP I-NP *
said VBD B-VP *
it PRP B-NP (S(S*
will MD B-VP *
resume VB I-VP *
dividend NN B-NP *
payments NNS I-NP *
with IN B-PP *
a DT B-NP *
10-cent-a-share JJ I-NP *
payout NN I-NP *
on IN B-PP *
Nov. NNP B-NP *
6 CD I-NP *
to TO B-PP *
shares NNS B-NP *
of IN B-PP *
record NN B-NP *
Oct. NNP B-NP *
25 CD I-NP *S)S)
. . O *S)

The DT B-NP (S*
Dallas NNP I-NP *
real JJ I-NP *
estate NN I-NP *
investment NN I-NP *
trust NN I-NP *
last RB B-ADVP *
paid VBD B-VP *
a DT B-NP *
dividend NN I-NP *
on IN B-PP *
Dec. NNP B-NP *
31 CD I-NP *
COMMA , I-NP *
1987 CD I-NP *
COMMA , O *
when WRB B-ADVP (S*
shareholders NNS B-NP (S*
received VBD B-VP *
$ $ B-NP *
1 CD I-NP *
a DT B-NP *
share NN I-NP *S)S)
. . O *S)

Despite IN B-PP (S*
continuing VBG B-NP *
troubles NNS I-NP *
with IN B-PP *
problem NN B-NP *
assets NNS I-NP *
and CC O *
nonperforming JJ B-NP *
loans NNS I-NP *
COMMA , O *
the DT B-NP *
trust NN I-NP *
said VBD B-VP *
it PRP B-NP (S(S*
expects VBZ B-VP *
to TO I-VP *
be VB I-VP *
able JJ B-ADJP *
to TO B-VP (S*
maintain VB I-VP *
or CC I-VP *
increase VB I-VP *
the DT B-NP *
rate NN I-NP *
of IN B-PP *
distributions NNS B-NP *
because IN B-PP *
of IN I-PP *
operations NNS B-NP *
of IN B-PP *
joint-venture JJ B-NP *
properties NNS I-NP *S)S)S)
. . O *S)

A DT B-NP (S*
federal JJ I-NP *
appeals NNS I-NP *
court VBP I-NP *
struck VBD B-VP *
down RP B-PRT *
a DT B-NP *
natural-gas NN I-NP *
regulation NN I-NP *
that WDT B-NP (S*
had VBD B-VP (S*
prevented VBN I-VP *
pipeline NN B-NP *
companies NNS I-NP *
from IN B-PP *
passing VBG B-VP (S*
to TO B-PP *
customers NNS B-NP *
part NN I-NP *
of IN B-PP *
$ $ B-NP *
1 CD I-NP *
billion CD I-NP *
in IN B-PP *
costs NNS B-NP *
from IN B-PP *
controversial JJ B-NP *
`` `` I-NP *
take-or-pay JJ I-NP *
'' '' I-NP *
contracts NNS I-NP *S)S)S)
. . O *S)

The DT B-NP (S*
court NN I-NP *
COMMA , O *
in IN B-PP *
a DT B-NP *
3-0 JJ I-NP *
ruling NN I-NP *
COMMA , O *
threw VBD B-VP *
out IN B-PP *
a DT B-NP *
deadline NN I-NP *
set VBN B-VP *
by IN B-PP *
the DT B-NP *
Federal NNP I-NP *
Energy NNP I-NP *
Regulatory NNP I-NP *
Commission NNP I-NP *
for IN B-PP *
settling VBG B-VP (S*
old JJ B-NP *
contract NN I-NP *
disputes NNS I-NP *
over IN B-PP *
gas NN B-NP *
that IN B-NP (S*
the DT B-NP (S*
pipeline NN I-NP *
companies NNS I-NP *
reserved VBN B-VP *
but CC O *
did VBD B-VP *
n't RB I-VP *
use VB I-VP *S)S)S)
. . O *S)

FERC NNP B-NP (S*
's POS B-NP *
regulation NN I-NP *
had VBD B-VP *
given VBN I-VP *
pipelines NNS B-NP *
until IN B-PP *
March NNP B-NP *
31 CD I-NP *
COMMA , I-NP *
1989 CD I-NP *
COMMA , O *
to TO B-VP (S*
pass VB I-VP *
on IN O *
to TO B-PP *
customers NNS B-NP *
as RB B-NP *
much JJ I-NP *
as IN I-NP *
50 CD I-NP *
% NN I-NP *
of IN B-PP *
the DT B-NP *
costs NNS I-NP *
of IN B-PP *
buying VBG B-VP (S*
out IN B-PRT *
their PRP$ B-NP *
broken VBN I-NP *
contracts NNS I-NP *
COMMA , O *
which WDT B-NP (S*
were VBD B-VP (S*
made VBN I-VP *
with IN B-PP *
producers NNS B-NP *
when WRB B-ADVP (S*
gas NN B-NP (S(S*
prices NNS I-NP *
were VBD B-VP *
high JJ B-ADJP *S)
and CC O *
supplies NNS O (S*
short JJ B-ADJP *S)S)S)S)S)S)S)
. . O *S)

A DT B-NP (S*
majority NN I-NP *
of IN B-PP *
old JJ B-NP *
contracts NNS I-NP *
were VBD B-VP *
renegotiated VBN I-VP *
by IN B-PP *
the DT B-NP *
deadline NN I-NP *
and CC O *
settled VBD B-VP *
at IN B-PP *
steep JJ B-NP *
discounts NNS I-NP *
. . O *S)

But CC O (S*
pipeline NN B-NP *
companies NNS I-NP *
estimate VBP B-VP *
they PRP B-NP (S(S*
still JJ B-ADVP *
face NN O *
$ $ B-NP *
2.4 CD I-NP *
billion CD I-NP *
in IN B-PP *
liabilities NNS B-NP *
from IN B-PP *
unresolved JJ B-NP *
disputes NNS I-NP *
COMMA , O *
including VBG B-PP *
$ $ B-NP *
1 CD I-NP *
billion CD I-NP *
they PRP B-NP (S(S*
fear VBP B-VP *
they PRP B-NP (S(S*
wo MD B-VP *
n't RB I-VP *
be VB I-VP *
able JJ B-ADJP *
to TO B-VP (S*
pass VB I-VP *
on IN B-PP *
to TO B-PP *
customers NNS B-NP *S)S)S)S)S)S)S)
. . O *S)

According VBG B-PP (S*
to TO B-PP *
industry NN B-NP *
lawyers NNS I-NP *
COMMA , O *
the DT B-NP *
ruling NN I-NP *
gives VBZ B-VP *
pipeline NN B-NP *
companies NNS I-NP *
an DT B-NP *
important JJ I-NP *
second JJ I-NP *
chance NN I-NP *
to TO B-VP (S*
resolve VB I-VP *
remaining VBG I-VP *
disputes NNS B-NP *
and CC O *
take VB B-VP *
advantage NN B-NP *
of IN B-PP *
the DT B-NP *
cost-sharing NN I-NP *
mechanism NN I-NP *S)
. . O *S)

The DT B-NP (S*
court NN I-NP *
left VBD B-VP *
open JJ B-ADJP *
whether IN B-SBAR (S*
FERC NNP B-NP (S*
could MD B-VP *
reimpose VB I-VP *
a DT B-NP *
new JJ I-NP *
deadline NN I-NP *
later RB B-ADVP *S)S)
. . O *S)

The DT B-NP (S*
court NN I-NP *
COMMA , O *
agreeing VBG B-VP *
with IN B-PP *
pipeline NN B-NP *
companies NNS I-NP *
COMMA , O *
found VBD B-VP *
the DT B-NP (S(S*
March NNP I-NP *
31 CD I-NP *
deadline NN I-NP *
was VBD B-VP *
`` `` O *
arbitrary JJ O *
and CC O *
capricious JJ O *
'' '' O *
and CC O *
`` `` O *
highly RB B-ADJP *
prejudicial JJ I-ADJP *
to TO B-PP *
the DT B-NP *
bargaining NN I-NP *
power NN I-NP *
of IN B-PP *
pipelines NNS B-NP *
'' '' O *
that WDT B-NP (S*
were VBD B-VP (S*
forced VBN I-VP *
to TO I-VP *
negotiate VB I-VP *
settlement NN B-NP *
of IN B-PP *
the DT B-NP *
old JJ I-NP *
take-or-pay JJ I-NP *
contracts NNS I-NP *
to TO B-VP (S*
meet VB I-VP *
the DT B-NP *
deadline NN I-NP *S)S)S)S)S)
. . O *S)

A DT B-NP (S*
report NN I-NP *
last JJ B-NP *
month NN I-NP *
by IN B-PP *
the DT B-NP *
Interstate NNP I-NP *
Natural NNP I-NP *
Gas NNP I-NP *
Association NNP I-NP *
of IN B-PP *
America NNP B-NP *
found VBD B-VP *
that IN B-SBAR (S*
pipelines NNS B-NP (S*
' POS B-NP *
settlement NN I-NP *
costs NNS I-NP *
had VBD B-VP *
jumped VBN I-VP *
in IN B-PP *
the DT B-NP *
three CD I-NP *
months NNS I-NP *
before IN B-PP *
the DT B-NP *
deadline NN I-NP *
to TO B-PP *
39 CD B-NP *
cents NNS I-NP *
on IN B-PP *
the DT B-NP *
dollar NN I-NP *
COMMA , O *
from IN B-PP *
22 CD B-NP *
cents NNS I-NP *
on IN B-PP *
the DT B-NP *
dollar NN I-NP *
in IN B-PP *
1988 CD B-NP *S)S)
. . O *S)

The DT B-NP (S*
court NN I-NP *
ordered VBD B-VP *
FERC NNP B-NP (S*
to TO B-VP *
justify VB I-VP *
within IN B-PP *
60 CD B-NP *
days NNS I-NP *
not RB B-CONJP *
only RB I-CONJP *
its PRP$ B-NP *
cost-sharing NN I-NP *
deadline NN I-NP *
COMMA , O *
but CC O *
other JJ B-NP *
major JJ I-NP *
elements NNS I-NP *
of IN B-PP *
its PRP$ B-NP *
proposed VBN I-NP *
regulation NN I-NP *
for IN B-PP *
introducing VBG B-VP (S*
more JJR B-NP *
competition NN I-NP *
into IN B-PP *
natural-gas NN B-NP *
transportation NN I-NP *S)S)
. . O *S)

The DT B-NP (S*
court NN I-NP *
also RB B-ADVP *
questioned VBD B-VP *
a DT B-NP *
crediting NN I-NP *
mechanism NN I-NP *
that WDT B-NP (S*
could MD B-VP (S*
be VB I-VP *
used VBN I-VP *
to TO B-VP (S*
resolve VB I-VP *
take-or-pay JJ B-NP *
liabilities NNS I-NP *S)S)S)
. . O *S)

The DT B-NP (S*
complex JJ I-NP *
regulation NN I-NP *
COMMA , O *
known VBN B-VP *
in IN B-PP *
the DT B-NP *
industry NN I-NP *
as IN B-PP *
Order NNP B-NP *
500 CD I-NP *
COMMA , O *
has VBZ B-VP *
been VBN I-VP *
hotly RB I-VP *
contested VBN I-VP *
by IN B-PP *
all DT B-NP *
sides NNS I-NP *
COMMA , O *
including VBG B-PP *
natural-gas NN B-NP *
producers NNS I-NP *
COMMA , O *
pipelines NNS B-NP *
COMMA , O *
local JJ B-NP *
distribution NN I-NP *
companies NNS I-NP *
and CC I-NP *
consumers NNS I-NP *
. . O *S)

The DT B-NP (S*
court NN I-NP *
's POS B-NP *
decision NN I-NP *
would MD B-VP *
allow VB I-VP *
FERC NNP B-NP (S*
to TO B-VP *
change VB I-VP *
some DT B-NP *
of IN B-PP *
its PRP$ B-NP *
provisions NNS I-NP *S)
COMMA , O *
but CC O *
ensures VBZ B-VP *
it PRP B-NP (S(S*
will MD B-VP *
be VB I-VP *
reviewed VBN I-VP *
again RB B-ADVP *
quickly RB I-ADVP *
by IN B-PP *
the DT B-NP *
court NN I-NP *S)S)
. . O *S)

MEDUSA NNP B-NP (S*
Corp. NNP I-NP *
said VBD B-VP *
it PRP B-NP (S(S*
voluntarily RB O *
prepaid JJ O *
$ $ O *
7 CD O *
million CD O *
on IN B-PP *
its PRP$ B-NP *
original JJ I-NP *
$ $ I-NP *
75 CD I-NP *
million CD I-NP *
term NN I-NP *
loan NN I-NP *
COMMA , O *
bringing VBG B-VP (S*
the DT B-NP *
total JJ I-NP *
debt NN I-NP *
reduction NN I-NP *
for IN B-PP *
the DT B-NP *
year NN I-NP *
to TO B-PP *
$ $ B-NP *
18 CD I-NP *
million CD I-NP *S)S)S)
. . O *S)

After IN B-PP (S*
the DT B-NP *
payment NN I-NP *
COMMA , O *
the DT B-NP *
Cleveland NNP I-NP *
company NN I-NP *
owes VBZ B-VP *
$ $ B-NP *
57 CD I-NP *
million CD I-NP *
on IN B-PP *
the DT B-NP *
loan NN I-NP *
. . O *S)

The DT B-NP (S*
cement NN I-NP *
producer NN I-NP *
said VBD B-VP *
the DT B-NP (S(S*
payment NN I-NP *
was VBD B-VP *
made VBN I-VP *
from IN B-PP *
excess JJ B-NP *
cash NN I-NP *
flow NN I-NP *S)S)
. . O *S)

NATIONAL JJ B-NP (S*
INCOME NNP I-NP *
REALTY NNP I-NP *
TRUST NNP I-NP *
said VBD B-VP *
it PRP B-NP (S(S*
will MD B-VP *
resume VB I-VP *
dividend NN B-NP *
payments NNS I-NP *
with IN B-PP *
a DT B-NP *
12-cent-a-share JJ I-NP *
dividend NN I-NP *
to TO B-VP (S(S*
be VB I-VP *
paid VBN I-VP *
Nov. NNP B-NP *
6 CD I-NP *
to TO B-PP *
shares NNS B-NP *
of IN B-PP *
record NN B-NP *
Oct. NNP B-NP *
25 CD I-NP *S)S)S)S)
. . O *S)

The DT B-NP (S*
mortgage NN I-NP *
and CC I-NP *
equity NN I-NP *
real JJ I-NP *
estate NN I-NP *
investment NN I-NP *
trust NN I-NP *
last RB B-ADVP *
paid VBD B-VP *
a DT B-NP *
dividend NN I-NP *
on IN B-PP *
Aug. NNP B-NP *
1 CD I-NP *
COMMA , I-NP *
1988 CD I-NP *
COMMA , O *
when WRB B-ADVP (S*
holders NNS B-NP (S*
received VBD B-VP *
75 CD B-NP *
cents NNS I-NP *
a DT B-NP *
share NN I-NP *S)S)
. . O *S)

Despite IN B-PP (S*
continuing VBG B-NP *
troubles NNS I-NP *
with IN B-PP *
problem NN B-NP *
properties NNS I-NP *
and CC O *
nonperforming JJ B-NP *
loans NNS I-NP *
COMMA , O *
the DT B-NP *
Dallas NNP I-NP *
trust NN I-NP *
said VBD B-VP *
it PRP B-NP (S(S*
has VBZ O *
rebuilt VBN O *
reserves NNS O *
COMMA , O *
abandoned VBN B-NP *
properties NNS I-NP *
with IN B-PP *
little JJ O *
potential JJ O *
and CC O *
experienced VBN O *
improved VBN O *
operating VBG B-NP *
results NNS I-NP *
from IN B-PP *
joint JJ B-NP *
ventures NNS I-NP *S)S)
. . O *S)

MLX NNP B-NP (S*
Corp. NNP I-NP *
said VBD B-VP *
it PRP B-NP (S(S*
reached VBD B-VP *
a DT B-NP *
preliminary JJ I-NP *
agreement NN I-NP *
with IN B-PP *
senior JJ B-NP *
lenders NNS I-NP *
to TO B-PP *
its PRP$ B-NP *
refrigeration NN I-NP *
and CC I-NP *
air-conditioning NN I-NP *
group NN I-NP *
to TO B-VP (S*
restructure VB I-VP *
the DT B-NP *
$ $ I-NP *
188.5 CD I-NP *
million CD I-NP *
of IN B-PP *
credit NN B-NP *
facilities NNS I-NP *
the DT B-NP (S(S*
lenders NNS I-NP *
provide VBP B-ADJP *
to TO B-PP *
the DT B-NP *
group NN I-NP *S)S)S)S)S)
. . O *S)

MLX NNP B-NP (S*
COMMA , O *
which WDT B-NP (S*
also RB B-ADVP (S*
makes VBZ B-VP *
aircraft NN B-NP *
and CC O *
heavy-duty JJ O *
truck NN O *
parts NNS O *S)S)
COMMA , O *
said VBD B-VP *
the DT B-NP (S(S*
debt NN I-NP *
was VBD B-VP *
accumulated VBN I-VP *
during IN B-PP *
its PRP$ B-NP *
acquisition NN I-NP *
of IN B-PP *
nine CD B-NP *
businesses NNS I-NP *
that WDT B-NP (S*
make VBP B-VP (S*
up IN B-PP *
the DT B-NP *
group NN I-NP *
COMMA , O *
the DT B-NP (S*
biggest JJS I-NP *
portion NN I-NP *
of IN B-PP *
which WDT B-NP *
was VBD B-VP *
related VBN I-VP *
to TO B-PP *
the DT B-NP *
1986 CD I-NP *
purchase NN I-NP *
of IN B-PP *
a DT B-NP *
Hillman NNP I-NP *
Co. NNP I-NP *
unit NN I-NP *S)S)S)S)S)
. . O *S)

Among IN B-PP (S(S*
other JJ B-NP *
things NNS I-NP *
COMMA , O *
the DT B-NP *
restructured VBN I-NP *
facilities NNS I-NP *
will MD B-VP *
substantially RB I-VP *
reduce VB I-VP *
the DT B-NP *
group NN I-NP *
's POS B-NP *
required VBN I-NP *
amortization NN I-NP *
of IN B-PP *
the DT B-NP *
term NN I-NP *
loan NN I-NP *
portion NN I-NP *
of IN B-PP *
the DT B-NP *
credit NN I-NP *
facilities NNS I-NP *
through IN B-PP *
September NNP B-NP *
1992 CD I-NP *S)
COMMA , O *
MLX NNP B-NP *
said VBD B-VP *
. . O *S)

Certain JJ B-NP (S*
details NNS I-NP *
of IN B-PP *
the DT B-NP *
restructured VBN I-NP *
facilities NNS I-NP *
remain VBP B-VP *
to TO I-VP (S*
be VB I-VP *
negotiated VBN I-VP *S)
. . O *S)

The DT B-NP (S*
agreement NN I-NP *
is VBZ B-VP *
subject NN B-ADJP *
to TO B-PP *
completion NN B-NP *
of IN B-PP *
a DT B-NP *
definitive JJ I-NP *
amendment NN I-NP *
and CC O *
appropriate JJ B-NP *
approvals NNS I-NP *
. . O *S)

William NNP B-NP (S*
P. NNP I-NP *
Panny NNP I-NP *
COMMA , O *
MLX NNP O *
chairman NN O *
and CC O *
chief JJ B-NP *
executive NN I-NP *
COMMA , O *
said VBD B-VP *
the DT B-NP (S(S*
pact NN I-NP *
`` `` O *
will MD B-VP *
provide VB I-VP *
MLX NNP B-NP *
with IN B-PP *
the DT B-NP *
additional JJ I-NP *
time NN I-NP *
and CC O *
flexibility NN B-NP *
necessary JJ B-ADJP *
to TO B-VP (S*
complete VB I-VP *
the DT B-NP *
restructuring NN I-NP *
of IN B-PP *
the DT B-NP *
company NN I-NP *
's POS B-NP *
capital NN I-NP *
structure NN I-NP *S)S)S)
. . O *
'' '' O *S)

MLX NNP B-NP (S*
has VBZ B-VP *
filed VBN I-VP *
a DT B-NP *
registration NN I-NP *
statement NN I-NP *
with IN B-PP *
the DT B-NP *
Securities NNP I-NP *
and CC I-NP *
Exchange NNP I-NP *
Commission NNP I-NP *
covering VBG B-VP *
a DT B-NP *
proposed VBN I-NP *
offering NN I-NP *
of IN B-PP *
$ $ B-NP *
120 CD I-NP *
million CD I-NP *
in IN B-PP *
long-term JJ B-NP *
senior JJ I-NP *
subordinated VBN I-NP *
notes NNS I-NP *
and CC I-NP *
warrants NNS I-NP *
. . O *S)

Dow NNP B-NP (S*
Jones NNP I-NP *
& CC I-NP *
Co. NNP I-NP *
said VBD B-VP *
it PRP B-NP (S(S*
acquired VBD B-VP *
a DT B-NP *
15 CD I-NP *
% NN I-NP *
interest NN I-NP *
in IN B-PP *
DataTimes NNP B-NP *
Corp. NNP I-NP *
COMMA , O *
a DT B-NP *
subsidiary NN I-NP *
of IN B-PP *
Oklahoma NNP B-NP *
Publishing NNP I-NP *
Co. NNP I-NP *
COMMA , O *
Oklahoma NNP B-NP *
City NNP I-NP *
COMMA , O *
that WDT B-NP (S*
provides VBZ B-VP (S*
electronic JJ B-NP *
research NN I-NP *
services NNS I-NP *S)S)S)S)
. . O *S)

Terms NNS B-NP (S*
were VBD B-VP *
n't RB I-VP *
disclosed VBN I-VP *
. . O *S)

Customers NNS B-NP (S*
of IN B-PP *
either DT B-NP *
DataTimes NNP I-NP *
or CC O *
Dow NNP B-NP *
Jones NNP I-NP *
News\/Retrieval NNP I-NP *
are VBP B-VP *
able JJ B-ADJP *
to TO B-VP (S*
access VB I-VP *
the DT B-NP *
information NN I-NP *
on IN B-PP *
both DT B-NP *
services NNS I-NP *S)
. . O *S)

Dow NNP B-NP (S*
Jones NNP I-NP *
is VBZ B-VP *
the DT B-NP *
publisher NN I-NP *
of IN B-PP *
The DT B-NP *
Wall NNP I-NP *
Street NNP I-NP *
Journal NNP I-NP *
. . O *S)

Flowers NNS B-NP (S*
Industries NNP I-NP *
Inc. NNP I-NP *
said VBD B-VP *
it PRP B-NP (S(S*
will MD B-VP *
report VB I-VP *
a DT B-NP *
charge NN I-NP *
of IN B-PP *
eight CD B-NP *
cents NNS I-NP *
to TO O *
10 CD B-NP *
cents NNS I-NP *
a DT B-NP *
share NN I-NP *
for IN B-PP *
its PRP$ B-NP *
fiscal JJ I-NP *
first JJ I-NP *
quarter NN I-NP *
COMMA , O *
ended VBN B-VP *
Sept. NNP B-NP *
23 CD I-NP *
COMMA , O *
from IN B-PP *
the DT B-NP *
sale NN I-NP *
of IN B-PP *
two CD B-NP *
bakeries NNS I-NP *
COMMA , O *
in IN B-PP *
High NNP B-NP *
Point NNP I-NP *
COMMA , O *
N.C. NNP B-NP *
COMMA , O *
and CC O *
Gadsden NNP B-NP *
COMMA , O *
Ala NNP B-NP *S)S)
. . O *S)

The DT B-NP (S*
convenience-food NN I-NP *
company NN I-NP *
said VBD B-VP *
it PRP B-NP (S(S*
sold VBD B-VP *
the DT B-NP *
bakeries NNS I-NP *
to TO B-PP *
Mills NNP B-NP *
Family NNP I-NP *
Bakery NNP I-NP *
for IN B-PP *
an DT B-NP *
undisclosed JJ I-NP *
amount NN I-NP *S)S)
. . O *S)

It PRP B-NP (S*
said VBD B-VP *
the DT B-NP (S(S*
sales NNS I-NP *
were VBD B-VP *
part NN B-NP *
of IN B-PP *
a DT B-NP *
1983 CD I-NP *
Federal NNP I-NP *
Trade NNP I-NP *
Commission NNP I-NP *
Consent NNP I-NP *
Order NNP I-NP *S)S)
. . O *S)

A DT B-NP (S*
year NN I-NP *
earlier RBR B-ADVP *
COMMA , O *
Flowers NNPS B-NP *
had VBD B-VP *
fiscal JJ B-NP *
first-quarter JJ I-NP *
net JJ I-NP *
income NN I-NP *
of IN B-PP *
$ $ B-NP *
8 CD I-NP *
million CD I-NP *
COMMA , O *
or CC O *
23 CD B-NP *
cents NNS I-NP *
a DT B-NP *
share NN I-NP *
COMMA , O *
on IN B-PP *
revenue NN B-NP *
of IN B-PP *
$ $ B-NP *
170.4 CD I-NP *
million CD I-NP *
. . O *S)

Raw-steel NN B-NP (S(S*
production NN I-NP *
by IN B-PP *
the DT B-NP *
nation NN I-NP *
's POS B-NP *
mills NNS I-NP *
decreased VBD B-VP *
0.8 CD B-NP *
% NN I-NP *
last JJ B-NP *
week NN I-NP *
to TO B-PP *
1COMMA828COMMA000 CD B-NP *
tons NNS I-NP *
from IN B-PP *
1COMMA843COMMA000 CD B-NP *
tons NNS I-NP *
the DT B-NP *
previous JJ I-NP *
week NN I-NP *S)
COMMA , O *
the DT B-NP *
American NNP I-NP *
Iron NNP I-NP *
and CC I-NP *
Steel NNP I-NP *
Institute NNP I-NP *
said VBD B-VP *
. . O *S)

Last JJ B-NP (S*
week NN I-NP *
's POS B-NP *
output NN I-NP *
rose VBD B-VP *
1.4 CD B-NP *
% NN I-NP *
from IN B-PP *
the DT B-NP *
1COMMA802COMMA000 CD I-NP *
tons NNS I-NP *
produced VBD B-VP *
a DT B-NP *
year NN I-NP *
earlier RBR B-ADVP *
. . O *S)

The DT B-NP (S*
industry NN I-NP *
used VBN B-VP *
82.2 CD B-NP *
% NN I-NP *
of IN B-PP *
its PRP$ B-NP *
capability NN I-NP *
last JJ B-NP *
week NN I-NP *
COMMA , O *
compared VBN B-PP *
with IN B-PP *
82.8 CD B-NP *
% NN I-NP *
the DT B-NP *
previous JJ I-NP *
week NN I-NP *
and CC O *
84 CD B-NP *
% NN I-NP *
a DT B-NP *
year NN I-NP *
ago RB B-ADVP *
. . O *S)

The DT B-NP (S*
capability NN I-NP *
utilization NN I-NP *
rate NN I-NP *
is VBZ B-VP *
a DT B-NP *
calculation NN I-NP *
designed VBN B-VP *
to TO I-VP (S*
indicate VB I-VP *
at IN B-PP (S*
what WP B-NP *
percent NN I-NP *
of IN B-PP *
its PRP$ O *
production NN O *
capability NN O *
the DT B-NP (S*
industry NN I-NP *
is VBZ B-VP *
operating VBG I-VP *
in IN O *
a DT B-NP *
given VBN I-NP *
week NN I-NP *S)S)S)
. . O *S)

Selwyn NNP B-NP (S*
B. NNP I-NP *
Kossuth NNP I-NP *
was VBD B-VP *
named VBN I-VP *
executive JJ B-NP *
director NN I-NP *
of IN B-PP *
the DT B-NP *
commission NN I-NP *
COMMA , O *
effective JJ O (S*
early JJ O *
November NNP O *S)
. . O *S)

Mr. NNP B-NP (S*
Kossuth NNP I-NP *
COMMA , O *
52 CD B-NP *
years NNS I-NP *
old JJ B-ADJP *
COMMA , O *
succeeds VBZ B-VP *
Ermanno NNP B-NP *
Pascutto NNP I-NP *
COMMA , O *
36 CD B-NP *
COMMA , O *
who WP B-NP (S*
resigned VBD B-VP (S*
to TO B-VP (S*
join VB I-VP *
Hong NNP B-NP *
Kong NNP I-NP *
's POS B-NP *
Securities NNPS I-NP *
and CC O *
Futures NNP B-NP *
Commission NNP I-NP *S)S)S)
. . O *S)

Mr. NNP B-NP (S*
Kossuth NNP I-NP *
was VBD B-VP *
vice NN B-NP *
president NN I-NP *
and CC I-NP *
director NN I-NP *
COMMA , O *
corporate JJ B-NP *
finance NN I-NP *
COMMA , O *
of IN B-PP *
Nesbitt NNP B-NP *
Thomson NNP I-NP *
Deacon NNP I-NP *
Inc. NNP I-NP *
COMMA , O *
a DT B-NP *
Toronto NNP I-NP *
investment NN I-NP *
dealer NN I-NP *
. . O *S)

Dun NNP B-NP (S*
& CC I-NP *
Bradstreet NNP I-NP *
Corp. NNP I-NP *
's POS B-NP *
Market NNP I-NP *
Data NNP I-NP *
Retrieval NNP I-NP *
unit NN I-NP *
said VBD B-VP *
it PRP B-NP (S(S*
acquired VBD B-VP *
School NNP B-NP *
and CC I-NP *
College NNP I-NP *
Construction NN I-NP *
Reports NNS I-NP *
service VBP B-VP *
from IN B-PP *
Intelligence NNP B-NP *
for IN B-PP *
Education NNP B-NP *
Inc NNP I-NP *S)S)
. . O *S)

Terms NNS B-NP (S*
were VBD B-VP *
n't RB I-VP *
disclosed VBN I-VP *
. . O *S)

The DT B-NP (S*
service NN I-NP *
supplies VBZ B-VP *
weekly JJ B-NP *
reports NNS I-NP *
on IN B-PP *
school NN B-NP *
and CC I-NP *
college NN I-NP *
construction NN I-NP *
plans NNS I-NP *
. . O *S)

Market NNP B-NP (S*
Data NNP I-NP *
Retrieval NNP I-NP *
is VBZ B-VP *
a DT B-NP *
compiler NN I-NP *
of IN B-PP *
educational JJ B-NP *
information NN I-NP *
and CC O *
provides VBZ B-VP *
related VBN O *
services NNS B-NP *
. . O *S)

Closely RB B-NP (S*
held VBN I-NP *
Intelligence NNP I-NP *
in IN B-PP *
Education NNP B-NP *
COMMA , O *
of IN B-PP *
Larchmont NNP B-NP *
COMMA , O *
N.Y. NNP B-NP *
COMMA , O *
is VBZ B-VP *
an DT B-NP *
educational JJ I-NP *
publisher NN I-NP *
and CC I-NP *
consultant NN I-NP *
. . O *S)

A DT B-NP (S*
battle NN I-NP *
is VBZ B-VP *
raging VBG I-VP *
in IN B-PP *
Venice NNP B-NP *
over IN B-PP *
plans NNS B-NP *
to TO B-VP (S*
have VB I-VP *
the DT B-NP (S*
1COMMA200-year-old JJ I-NP *
Italian JJ I-NP *
city NN I-NP *
be VB B-VP *
the DT B-NP *
site NN I-NP *
for IN B-PP *
a DT B-NP *
universal JJ I-NP *
exposition NN I-NP *
in IN B-PP *
2000 CD B-NP *S)S)
. . O *S)

The DT B-NP (S*
plans NNS I-NP *
include VBP B-VP *
a DT B-NP *
subway NN I-NP *
system NN I-NP *
COMMA , O *
a DT B-NP *
congress NN I-NP *
center NN I-NP *
COMMA , O *
floating VBG O *
trees NNS B-NP *
COMMA , O *
fanciful JJ B-NP *
fountains NNS I-NP *
-- : O *
and CC O *
as RB B-NP *
many JJ I-NP *
as IN I-NP *
60COMMA000 CD I-NP *
additional JJ I-NP *
tourists NNS I-NP *
a DT B-NP *
day NN I-NP *
. . O *S)

Expo NN B-NP (S*
enthusiasts NNS I-NP *
argue VBP B-VP *
that IN B-SBAR (S*
holding VBG B-VP (S(S*
the DT B-NP *
fair NN I-NP *S)
would MD B-VP *
attract VB I-VP *
businesses NNS B-NP *
COMMA , O *
create VB B-VP *
jobs NNS B-NP *
and CC O *
help VB B-VP *
renovate VB I-VP *
abandoned VBN I-VP *
sections NNS B-NP *
of IN B-PP *
town NN B-NP *S)S)
. . O *S)

But CC O (S*
opponents NNS B-NP *
fear VBP B-VP *
overcrowding NN B-NP *
. . O *S)

`` `` O (S*
This DT B-NP (S(S*
city NN I-NP *
already RB B-ADVP *
has VBZ B-VP *
too RB B-NP *
many JJ I-NP *
tourists NNS I-NP *S)
COMMA , O *
and CC O *
it PRP B-NP (S*
ca MD B-VP *
n't RB I-VP *
hold VB I-VP *
them PRP B-NP *
all DT O *S)S)
COMMA , O *
'' '' O *
says VBZ B-VP *
Pierluigi NNP B-NP *
Beggiato NNP I-NP *
COMMA , O *
the DT B-NP *
president NN I-NP *
of IN B-PP *
the DT B-NP *
Venice NNP I-NP *
hoteliers NNS I-NP *
association NN I-NP *
. . O *S)

About IN B-NP (S*
40 CD I-NP *
Italian JJ I-NP *
businesses NNS I-NP *
COMMA , O *
including VBG B-PP *
Fiat NNP O *
S.p NNP O *
. . O *
A. NNP O *
and CC O *
Ing NNP B-NP *
. . I-NP *
C. NNP I-NP *
Olivetti NNP I-NP *
& CC I-NP *
Co. NNP I-NP *
COMMA , O *
have VBP B-VP *
formed VBN I-VP *
a DT B-NP *
consortium NN I-NP *
to TO B-VP (S(S*
lobby VB I-VP *
for IN B-PP *
holding VBG B-VP (S*
the DT B-NP *
expo NN I-NP *
in IN B-PP *
Venice NNP B-NP *S)S)S)
. . O *S)

Three CD B-NP (S*
gambling NN I-NP *
casinos NNS I-NP *
have VBP B-VP *
opened VBN I-VP *
in IN B-PP *
Poland NNP B-NP *
. . O *S)

The DT B-NP (S*
three CD I-NP *
establishments NNS I-NP *
-- : O *
two CD B-NP *
in IN B-PP *
Warsaw NNP B-NP *
and CC O *
one CD B-NP *
in IN B-PP *
Krakow NNP B-NP *
-- : O *
accept VB B-VP *
only RB B-NP *
foreign JJ I-NP *
currency NN I-NP *
and CC O *
are VBP B-VP *
joint JJ B-NP *
ventures NNS I-NP *
between IN B-PP *
Polish JJ B-NP *
firms NNS I-NP *
and CC O *
Western JJ B-NP *
companies NNS I-NP *
. . O *S)

Not RB B-NP (S*
all DT I-NP *
Poles NNPS I-NP *
are VBP B-VP *
pleased VBN I-VP *
. . O *S)

`` `` O (S(S*
What WP B-NP *
do VBP B-VP (S*
we PRP B-NP *
want VB B-VP *
casinos NNS B-NP *
for IN B-PP *
when WRB B-ADVP (S*
we PRP B-NP (S*
have VBP O *
n't RB O *
got VBN O *
anything NN O *
in IN B-PP *
the DT B-NP *
shops NNS I-NP *S)S)S)S)
? . O *
'' '' O *
one CD B-NP *
housewife NN I-NP *
asked VBD B-VP *
. . O *S)

But CC O (S*
Bogdan NNP B-NP *
Gumkowski NNP I-NP *
COMMA , O *
who WP B-NP (S*
runs VBZ B-VP (S*
the DT B-NP *
casino NN I-NP *
at IN B-PP *
Warsaw NNP B-NP *
's POS B-NP *
Marriott NNP I-NP *
Hotel NNP I-NP *S)S)
COMMA , O *
said VBD B-VP *
the DT B-NP (S(S*
ventures NNS I-NP *
would MD B-VP *
help VB I-VP *
Poland NNP B-NP (S*
service VB B-VP *
its PRP$ B-NP *
$ $ I-NP *
39 CD I-NP *
billion CD I-NP *
foreign JJ I-NP *
debt NN I-NP *
by IN B-PP *
pouring VBG B-VP (S*
dollars NNS B-NP *
into IN B-PP *
the DT B-NP *
state NN I-NP *
firms NNS I-NP *
in IN B-PP *
the DT B-NP *
joint JJ I-NP *
ventures NNS I-NP *
-- : O *
the DT B-NP *
LOT NNP I-NP *
airline NN I-NP *
and CC O *
Orbis NNP B-NP *
tourist NN I-NP *
organization NN I-NP *S)S)S)S)
. . O *S)

Algeria NNP B-NP (S*
plans VBZ B-VP *
to TO I-VP *
increase VB I-VP *
natural-gas NN B-NP *
sales NNS I-NP *
to TO B-PP *
Europe NNP B-NP *
and CC O *
the DT B-NP *
U.S. NNP I-NP *
. . O *S)

According VBG B-PP (S*
to TO B-PP *
the DT B-NP *
Middle NNP I-NP *
East NNP I-NP *
Economic NNP I-NP *
Survey NNP I-NP *
COMMA , O *
the DT B-NP *
North NNP I-NP *
African JJ I-NP *
nation NN I-NP *
is VBZ B-VP *
holding VBG I-VP *
talks NNS B-NP *
with IN B-PP *
Italy NNP B-NP *
for IN B-PP *
adding VBG B-VP (S*
a DT B-NP *
fourth JJ I-NP *
pipe NN I-NP *
to TO B-PP *
a DT B-NP *
section NN I-NP *
of IN B-PP *
the DT B-NP *
Trans-Mediterranean NNP I-NP *
pipeline NN I-NP *
COMMA , O *
expanding VBG B-VP (S*
capacity NN B-NP *
by IN B-PP *
up IN B-NP *
to TO I-NP *
six CD I-NP *
billion CD I-NP *
cubic JJ I-NP *
meters NNS I-NP *
a DT B-NP *
year NN I-NP *
from IN B-PP *
12.5 CD B-NP *
billion CD I-NP *S)S)
. . O *S)

Algeria NNP B-NP (S*
also RB B-ADVP *
wants VBZ B-VP *
to TO I-VP *
build VB I-VP *
a DT B-NP *
pipeline NN I-NP *
through IN B-PP *
Morocco NNP B-NP *
and CC B-PP *
across IN B-PP *
the DT B-NP *
Strait NNP I-NP *
of IN B-PP *
Gibraltar NNP B-NP *
to TO B-VP (S*
supply VB I-VP *
Spain NNP B-NP *
COMMA , O *
France NNP B-NP *
and CC O *
West NNP B-NP *
Germany NNP I-NP *
with IN B-PP *
up IN B-NP *
to TO I-NP *
15 CD I-NP *
billion CD I-NP *
cubic JJ I-NP *
meters NNS I-NP *
a DT B-NP *
year NN I-NP *
by IN B-PP *
the DT B-NP *
late JJ I-NP *
1990s CD I-NP *S)
. . O *S)

South NNP B-NP (S(S*
Africa NNP I-NP *
's POS B-NP *
National NNP I-NP *
Union NNP I-NP *
of IN B-PP *
Mineworkers NNPS B-NP *
agreed VBD B-VP *
to TO I-VP *
suspend VB I-VP *
the DT B-NP *
strike NN I-NP *
by IN B-PP *
diamond NN B-NP *
workers NNS I-NP *
and CC O *
resume VB B-VP *
negotiations NNS B-NP *
with IN B-PP *
De NNP B-NP *
Beers NNP I-NP *
Consolidated NNP I-NP *
Mines NNP I-NP *
Ltd. NNP I-NP *
over IN B-PP *
their PRP$ B-NP *
wage NN I-NP *
dispute NN I-NP *S)
COMMA , O *
De NNP B-NP *
Beers NNP I-NP *
said VBD B-VP *
. . O *S)

It PRP B-NP (S*
also RB B-ADVP *
said VBD B-VP *
the DT B-NP (S(S*
union NN I-NP *
had VBD B-VP *
agreed VBN I-VP *
to TO I-VP *
meet VB I-VP *
the DT B-NP *
company NN I-NP *
for IN B-PP *
further JJ B-NP *
talks NNS I-NP *
tomorrow NN B-NP *S)S)
. . O *S)

The DT B-NP (S*
strike NN I-NP *
at IN B-PP *
five CD B-NP *
De NNP I-NP *
Beers NNP I-NP *
mines NNS I-NP *
began VBD B-VP *
last JJ B-NP *
Thursday NNP I-NP *
COMMA , O *
with IN B-PP *
9COMMA500 CD B-NP (S*
out IN B-PP *
of IN B-PP *
a DT B-NP *
total JJ I-NP *
10COMMA000 CD I-NP *
NUM NNP I-NP *
members NNS I-NP *
employed VBN B-VP *
on IN B-PP *
De NNP B-NP *
Beers NNP I-NP *
mines NNS I-NP *
participating VBG B-VP *S)
COMMA , O *
according VBG B-PP *
to TO B-PP *
the DT B-NP *
union NN I-NP *
COMMA , O *
while IN B-SBAR (S*
De NNP B-NP (S*
Beers NNP I-NP *
said VBD B-VP *
there EX B-NP (S(S*
were VBD B-VP *
7COMMA800 CD B-NP *
participants NNS I-NP *S)S)S)S)
. . O *S)

The DT B-NP (S*
union NN I-NP *
has VBZ B-VP *
demanded VBN I-VP *
a DT B-NP *
37.6 CD I-NP *
% NN I-NP *
increase NN I-NP *
in IN B-PP *
the DT B-NP *
minimum JJ I-NP *
wage NN I-NP *
while IN B-PP (S*
De NNP B-NP (S*
Beers NNP I-NP *
's POS B-NP *
final JJ I-NP *
offer NN I-NP *
was VBD B-VP *
an DT B-NP *
increase NN I-NP *
of IN B-PP *
17 CD B-NP *
% NN I-NP *S)S)
. . O *S)

A DT B-NP (S*
35-nation JJ I-NP *
environmental JJ I-NP *
conference NN I-NP *
opened VBD B-VP *
in IN B-PP *
Sofia NNP B-NP *
COMMA , O *
Bulgaria NNP B-NP *
. . O *S)

The DT B-NP (S*
gathering NN I-NP *
is VBZ B-VP *
expected VBN I-VP *
to TO I-VP *
focus VB I-VP *
on IN B-PP *
curbing VBG B-VP (S*
the DT B-NP *
fouling NN I-NP *
of IN B-PP *
rivers NNS B-NP *
and CC I-NP *
lakes NNS I-NP *
COMMA , O *
limiting VBG O *
damage NN O *
from IN B-PP *
industrial JJ B-NP *
accidents NNS I-NP *
and CC O *
improving VBG B-VP *
the DT B-NP *
handling NN I-NP *
of IN B-PP *
harmful JJ B-NP *
chemicals NNS I-NP *S)
. . O *S)

West JJ B-NP (S*
German NNP I-NP *
Environment NNP I-NP *
Minister NNP I-NP *
Klaus NNP I-NP *
Toepfer NNP I-NP *
said VBD B-VP *
Bonn NNP B-NP (S(S*
is VBZ B-VP *
convinced VBN I-VP *
of IN B-PP *
the DT B-NP *
need NN I-NP *
for IN B-PP *
cooperation NN B-NP *
COMMA , O *
`` `` O *
especially RB B-ADVP *
with IN B-PP *
our PRP$ B-NP *
neighbors NNS I-NP *
in IN B-PP *
the DT B-NP *
East NNP I-NP *
COMMA , O *
because IN B-SBAR (S*
we PRP B-NP (S*
are VBP B-VP *
directly RB I-VP *
affected VBN I-VP *
by IN B-PP *
their PRP$ B-NP *
ecological JJ I-NP *
progress NN I-NP *
or CC I-NP *
lack NN I-NP *
of IN B-PP *
it PRP B-NP *S)S)S)S)
. . O *
'' '' O *S)

The DT B-NP (S*
U.S. NNP I-NP *
and CC I-NP *
Canada NNP I-NP *
joined VBD B-VP *
every DT B-NP *
European JJ I-NP *
country NN I-NP *
except IN B-PP *
Albania NNP B-NP *
at IN B-PP *
the DT B-NP *
meeting NN I-NP *
. . O *S)

The DT B-NP (S*
Swedish JJ I-NP *
publishers NNS I-NP *
of IN B-PP *
a DT B-NP *
new JJ I-NP *
Estonian-language JJ I-NP *
newspaper NN I-NP *
rushed VBD B-VP *
an DT B-NP *
extra JJ I-NP *
edition NN I-NP *
across IN B-PP *
the DT B-NP *
Baltic JJ I-NP *
on IN B-PP *
Oct. NNP B-NP *
10 CD I-NP *
after IN B-PP (S*
the DT B-NP (S*
first JJ I-NP *
run NN I-NP *
sold VBN B-VP *
out IN B-PRT *
in IN B-PP *
one CD B-NP *
day NN I-NP *S)S)
. . O *S)

Editor NNP B-NP (S*
Hasse NNP I-NP *
Olsson NNP I-NP *
said VBD B-VP *
plans NNS B-NP (S(S*
had VBD B-VP *
called VBN I-VP *
for IN B-PP (S*
7COMMA000 CD B-NP (S(S*
copies NNS I-NP *
of IN B-PP *
the DT O *
monthly JJ O *
Are VBP B-VP *
Paev NNP B-NP *
( -LRB- O *
Business NNP B-NP *
Paper NNP I-NP *
) -RRB- I-NP *
to TO B-VP *
be VB I-VP *
sold VBN I-VP *
at IN B-PP *
newsstands NNS B-NP *S)
and CC O *
an DT B-NP (S*
additional JJ I-NP *
3COMMA000 CD I-NP *
promotion NN I-NP *
issues NNS I-NP *
to TO B-VP *
be VB I-VP *
sent VBN I-VP *
by IN B-PP *
direct JJ B-NP *
mail NN I-NP *S)S)S)S)S)
. . O *S)

He PRP B-NP (S*
said VBD B-VP *
13COMMA000 CD B-NP (S(S*
more JJR I-NP *
copies NNS I-NP *
were VBD B-VP *
sent VBN I-VP *
to TO B-PP *
Estonia NNP B-NP *
because IN B-PP *
of IN I-PP *
strong JJ B-NP *
sales NNS I-NP *S)S)
. . O *S)

The DT B-NP (S(S*
Swedish JJ I-NP *
publishing NN I-NP *
company NN I-NP *
Bonniers NNP B-NP *
owns VBZ B-VP *
51 CD B-NP *
% NN I-NP *
of IN B-PP *
Are VBP O *
Paev NNP O *S)
COMMA , O *
and CC O *
the DT B-NP (S*
Estonian JJ I-NP *
management NN I-NP *
company NN I-NP *
Minor NNP B-NP *
owns VBZ B-VP *
49 CD B-NP *
% NN I-NP *S)
. . O *S)

Angel NNP B-NP (S*
Gurria NNP I-NP *
COMMA , O *
Mexico NNP B-NP *
's POS B-NP *
top JJ I-NP *
debt NN I-NP *
negotiator NN I-NP *
COMMA , O *
said VBD B-VP *
the DT B-NP (S(S*
country NN I-NP *
's POS B-NP *
creditor NN I-NP *
banks NNS I-NP *
are VBP B-VP *
responding VBG I-VP *
positively RB B-ADVP *
to TO B-PP *
Mexico NNP B-NP *
's POS B-NP *
debt-reduction NN I-NP *
package NN I-NP *S)S)
. . O *S)

Mr. NNP B-NP (S*
Gurria NNP I-NP *
's POS B-NP *
optimism NN I-NP *
contrasts NNS I-NP *
with IN B-PP *
some DT B-NP *
bankers NNS I-NP *
' POS B-NP *
views NNS I-NP *
that IN B-SBAR (S*
the DT B-NP (S*
deal NN I-NP *
may MD B-VP *
require VB I-VP *
a DT B-NP *
lot NN I-NP *
of IN B-PP *
arm NN B-NP *
twisting VBG I-NP *
by IN B-PP *
the DT B-NP *
U.S. NNP I-NP *
Treasury NNP I-NP *
in IN B-SBAR (S*
order NN O *
to TO B-VP (S*
succeed VB I-VP *S)S)S)S)
. . O *S)

Mr. NNP B-NP (S*
Gurria NNP I-NP *
COMMA , O *
Mexico NNP B-NP *
's POS B-NP *
under-secretary NN I-NP *
of IN B-PP *
the DT B-NP *
ministry NN I-NP *
of IN B-PP *
finance NN B-NP *
COMMA , O *
met VBD B-VP *
yesterday NN B-NP *
with IN B-PP *
European JJ B-NP *
bankers NNS I-NP *
in IN B-PP *
London NNP B-NP *
COMMA , O *
at IN B-PP *
the DT B-NP *
half-way JJ I-NP *
point NN I-NP *
on IN B-PP *
a DT B-NP *
so-called JJ I-NP *
road NN I-NP *
show NN I-NP *
to TO B-VP (S(S*
market VB I-VP *
the DT B-NP *
package NN I-NP *
around IN B-PP *
the DT B-NP *
world NN I-NP *S)S)
. . O *S)

An DT B-NP (S(S*
increasing VBG I-NP *
number NN I-NP *
of IN B-PP *
banks NNS B-NP *
appear VBP B-VP *
to TO I-VP *
be VB I-VP *
considering VBG I-VP *
the DT B-NP *
option NN I-NP *
under IN B-PP *
the DT B-NP *
deal NN I-NP *
whereby WRB B-ADVP (S*
they PRP B-NP (S*
can MD B-VP *
swap VB I-VP *
their PRP$ B-NP *
Mexican JJ I-NP *
loans NNS I-NP *
for IN B-PP *
30-year JJ B-NP *
bonds NNS I-NP *
with IN B-PP *
a DT B-NP *
face NN I-NP *
value NN I-NP *
discounted VBN B-VP *
by IN B-PP *
35 CD B-NP *
% NN I-NP *S)S)S)
COMMA , O *
Mr. NNP B-NP *
Gurria NNP I-NP *
said VBD B-VP *
. . O *S)

The DT B-NP (S*
other JJ I-NP *
two CD I-NP *
options NNS I-NP *
consist VBP B-VP *
of IN B-PP *
swapping VBG B-VP (S*
loans NNS B-NP *
for IN B-PP *
bonds NNS B-NP *
with IN B-PP *
6.25 CD B-NP *
% NN I-NP *
interest NN I-NP *
rates NNS I-NP *
COMMA , O *
or CC O *
providing VBG B-VP *
fresh JJ B-NP *
loans NNS I-NP *S)
. . O *S)

The DT B-NP (S*
accord NN I-NP *
COMMA , O *
which WDT B-NP (S*
covers VBZ B-VP (S*
$ $ B-NP *
52.7 CD I-NP *
billion CD I-NP *
of IN B-PP *
Mexico NNP B-NP *
's POS B-NP *
medium NN I-NP *
- : O *
and CC O *
long-term JJ B-NP *
debt NN I-NP *S)S)
COMMA , O *
is VBZ B-VP *
expected VBN I-VP *
to TO I-VP *
go VB I-VP *
into IN B-PP *
effect NN B-NP *
in IN B-PP *
early JJ B-NP *S)

China NNP B-NP (S(S*
's POS B-NP *
top JJ I-NP *
film NN I-NP *
actress NN I-NP *
COMMA , O *
Liu NNP B-NP *
Xiaoqing NNP I-NP *
COMMA , O *
paid VBD B-VP *
$ $ B-NP *
4COMMA555 CD I-NP *
in IN B-PP *
back RB B-NP *
taxes VBZ I-NP *
and CC O *
fines NNS B-NP *
in IN B-PP *
Shandong NNP B-NP *
province NN I-NP *S)
COMMA , O *
the DT B-NP *
People NNS I-NP *
's POS B-NP *
Daily NNP I-NP *
reported VBD B-VP *
. . O *S)

The DT B-NP (S*
amount NN I-NP *
is VBZ B-VP *
equal JJ B-ADJP *
to TO B-PP *
about IN B-NP *
30 CD I-NP *
years NNS I-NP *
earnings NNS I-NP *
for IN B-PP *
the DT B-NP *
average JJ I-NP *
peasant NN I-NP *
COMMA , O *
who WP B-NP (S*
makes VBZ B-VP (S*
$ $ B-NP *
145 CD I-NP *
a DT B-NP *
year NN I-NP *S)S)
... : O *
. . O *S)

China NNP B-NP (S(S*
will MD B-VP *
spend VB I-VP *
$ $ B-NP *
9.45 CD I-NP *
million CD I-NP *
for IN B-PP *
urgent JJ B-NP *
maintenance NN I-NP *
on IN B-PP *
Tibet NNP B-NP *
's POS B-NP *
Potala NNP I-NP *
Palace NNP I-NP *
COMMA , O *
former JJ B-NP *
home NN I-NP *
of IN B-PP *
the DT B-NP *
Dalai NNP I-NP *
Lama NNP I-NP *S)
COMMA , O *
the DT B-NP *
China NNP I-NP *
News NNP I-NP *
Service NNP I-NP *
said VBD B-VP *
. . O *S)

The DT B-NP (S*
Dalai NNP I-NP *
Lama NNP I-NP *
COMMA , O *
who WP B-NP (S*
was VBD B-VP (S*
just RB I-VP *
awarded VBN I-VP *
the DT B-NP *
Nobel NNP I-NP *
Peace NNP I-NP *
Prize NNP I-NP *S)S)
COMMA , O *
lives VBZ B-VP *
in IN B-PP *
exile NN B-NP *
in IN B-PP *
India NNP B-NP *
. . O *S)

George NNP B-NP (S*
W. NNP I-NP *
Koch NNP I-NP *
COMMA , O *
63 CD B-NP *
years NNS I-NP *
old JJ B-ADJP *
COMMA , O *
president NN B-NP *
and CC O *
chief JJ B-NP *
executive JJ I-NP *
officer NN I-NP *
of IN B-PP *
Grocery NNP B-NP *
Manufacturers NNPS I-NP *
of IN B-PP *
America NNP B-NP *
Inc. NNP I-NP *
COMMA , O *
was VBD B-VP *
elected VBN I-VP *
a DT B-NP *
director NN I-NP *
of IN B-PP *
this DT B-NP *
maker NN I-NP *
of IN B-PP *
spices NNS B-NP *
COMMA , O *
seasonings NNS B-NP *
and CC O *
specialty NN B-NP *
foods NNS I-NP *
COMMA , O *
succeeding VBG B-VP (S*
Erskin NNP B-NP *
N. NNP I-NP *
White NNP I-NP *
Jr. NNP I-NP *
COMMA , O *
65 CD B-NP *
COMMA , O *
who WP B-NP (S*
resigned VBD B-VP (S*S)S)S)
. . O *S)

American NNP B-NP (S*
Business NNP I-NP *
Computer NNP I-NP *
Corp. NNP I-NP *
said VBD B-VP *
it PRP B-NP (S(S*
privately RB B-ADVP *
placed VBD B-VP *
1COMMA035COMMA000 CD B-NP *
common JJ I-NP *
shares NNS I-NP *
at IN B-PP *
$ $ B-NP *
2.50 CD I-NP *
a DT B-NP *
share NN I-NP *S)S)
. . O *S)

The DT B-NP (S*
placement NN I-NP *
was VBD B-VP *
made VBN I-VP *
through IN B-PP *
Gray NNP B-NP *
Seifert NNP I-NP *
Securities NNPS I-NP *
COMMA , O *
New NNP B-NP *
York NNP I-NP *
COMMA , O *
to TO O *
institutional JJ B-NP *
investors NNS I-NP *
. . O *S)

Proceeds NNS B-NP (S*
will MD B-VP *
be VB I-VP *
used VBN I-VP *
to TO B-VP (S*
commercialize VB I-VP *
recently RB B-NP *
patented VBN I-NP *
technology NN I-NP *
and CC O *
support VB B-VP *
the DT B-NP *
company NN I-NP *
's POS B-NP *
international JJ I-NP *
expansion NN I-NP *S)
. . O *S)

The DT B-NP (S*
company NN I-NP *
develops VBZ O *
and CC O *
markets NNS O *
products NNS O *
for IN B-PP *
the DT B-NP *
food NN I-NP *
service NN I-NP *
industry NN I-NP *
. . O *S)

THE DT B-NP (S*
R.H. NNP I-NP *
MACY NNP I-NP *
& CC I-NP *
CO NNP I-NP *
. . I-NP *
department-store NN I-NP *
chain NN I-NP *
is VBZ B-VP *
n't RB O *
for IN B-PP *
sale NN B-NP *
. . O *S)

In IN B-PP (S*
yesterday NN B-NP *
's POS B-NP *
edition NN I-NP *
COMMA , O *
it PRP B-NP *
was VBD B-VP *
incorrectly RB I-VP *
included VBN I-VP *
with IN B-PP *
a DT B-NP *
list NN I-NP *
of IN B-PP *
New NNP B-NP *
York NNP I-NP *
chains NNS I-NP *
up IN B-PP *
for IN B-PP *
sale NN B-NP *
. . O *S)

Korean JJ B-NP (S(S*
car NN I-NP *
exports NNS I-NP *
have VBP B-VP *
slid VBN I-VP *
about IN B-NP *
40 CD I-NP *
% NN I-NP *
so RB B-ADVP *
far RB I-ADVP *
this DT B-NP *
year NN I-NP *S)
COMMA , O *
but CC O *
auto NN B-NP (S*
makers NNS I-NP *
here RB B-ADVP *
are VBP B-VP *
n't RB I-VP *
panicking VBG I-VP *S)
. . O *S)

They PRP B-NP (S*
are VBP B-VP *
enjoying VBG I-VP *
domestic JJ B-NP *
sales NNS I-NP *
that WDT B-NP (S*
are VBP B-VP (S*
more JJR O *
than IN B-PP *
making VBG B-VP (S*
up IN B-PRT *
for IN B-PP *
lost VBN B-NP *
overseas JJ I-NP *
sales NNS I-NP *S)S)S)
. . O *S)

South JJ B-NP (S*
Korean JJ I-NP *
consumers NNS I-NP *
are VBP B-VP *
expected VBN I-VP *
to TO I-VP *
buy VB I-VP *
almost RB B-NP *
500COMMA000 CD I-NP *
passenger NN I-NP *
cars NNS I-NP *
this DT B-NP *
year NN I-NP *
COMMA , O *
up IN B-ADVP *
60 CD B-NP *
% NN I-NP *
from IN B-PP *
1988 CD B-NP *
. . O *S)

In IN B-PP (S*
fact NN B-NP *
COMMA , O *
some DT B-NP *
auto NN I-NP *
executives NNS I-NP *
suggest VBP B-VP *
that WDT B-NP (S*
slackened VBD B-VP (S(S*
demand NN B-NP *
for IN B-PP *
their PRP$ B-NP *
cars NNS I-NP *
in IN B-PP *
the DT B-NP *
U.S. NNP I-NP *
and CC O *
Canada NNP B-NP *
is VBZ B-VP *
a DT B-NP *
blessing NN I-NP *S)
; : O *
otherwise RB B-ADVP (S*
they PRP B-NP *
would MD B-VP *
n't RB I-VP *
be VB I-VP *
able JJ B-ADJP *
to TO B-VP (S*
keep VB I-VP *
up IN B-PRT *
with IN B-PP *
demand NN B-NP *
in IN B-PP *
the DT B-NP *
more RBR I-NP *
profitable JJ I-NP *
local JJ I-NP *
market NN I-NP *S)S)S)S)
. . O *S)

`` `` O (S*
We PRP B-NP (S*
are VBP B-VP *
very RB B-ADJP *
lucky JJ I-ADJP *
to TO B-VP (S*
easily RB I-VP *
change VBP I-VP *
an DT B-NP *
export NN I-NP *
loss NN I-NP *
to TO B-PP *
domestic JJ B-NP *
plus CC I-NP *S)S)
COMMA , O *
'' '' O *
says VBZ B-VP *
Hong NNP B-NP *
Tu NNP I-NP *
Pyo NNP I-NP *
COMMA , O *
managing VBG B-NP *
director NN I-NP *
of IN B-PP *
domestic JJ B-NP *
marketing NN I-NP *
for IN B-PP *
Hyundai NNP B-NP *
Motor NNP I-NP *
Co NNP I-NP *
. . O *S)

As IN B-SBAR (S(S*
it PRP B-NP (S*
is VBZ B-VP *S)S)
COMMA , O *
waiting VBG B-VP *
lists NNS B-NP *
of IN B-PP *
a DT B-NP *
month NN I-NP *
are VBP B-VP *
n't RB O *
unusual JJ O *
for IN B-PP *
popular JJ B-NP *
models NNS I-NP *
. . O *S)

Demand NN B-NP (S*
is VBZ B-VP *
so RB B-ADJP *
strong JJ I-ADJP *
that IN B-SBAR (S*
all DT B-NP (S*
of IN B-PP *
the DT B-NP *
domestic JJ I-NP *
makers NNS I-NP *
-- : O *
Hyundai NNP B-NP *
COMMA , O *
Kia NNP O *
Motors NNPS O *
Corp. NNP O *
COMMA , O *
Daewoo NNP B-NP *
Motor NNP I-NP *
Co. NNP I-NP *
and CC O *
even JJ B-NP *
upstart NN I-NP *
SsangYong NNP I-NP *
Motor NNP I-NP *
Co. NNP I-NP *
-- : O *
plan NN O *
to TO B-VP *
build VB I-VP *
more JJR B-NP *
factories NNS I-NP *S)S)
. . O *S)

Industry NN B-NP (S*
analysts NNS I-NP *
predict VBP B-VP *
that IN B-SBAR (S*
by IN B-PP (S*
1995 CD B-NP *
COMMA , O *
South NNP B-NP *
Korea NNP I-NP *
will MD B-VP *
be VB I-VP *
building NN I-VP *
three CD B-NP *
million CD I-NP *
cars NNS I-NP *
a DT B-NP *
year NN I-NP *
-- : O *
about IN O *
half NN B-NP *
of IN B-PP *
that DT B-NP *
for JJ I-NP *
export NN I-NP *S)S)
. . O *S)

It PRP B-NP (S*
's VBZ B-VP *
an DT B-NP *
optimistic JJ I-NP *
move NN I-NP *
in IN B-PP *
a DT B-NP *
industry NN I-NP *
already RB B-VP *
facing VBG I-VP *
world-wide JJ B-NP *
overcapacity NN I-NP *
. . O *S)

But CC O (S*
South JJ B-NP *
Korean JJ I-NP *
auto NN I-NP *
makers NNS I-NP *
are VBP B-VP *
confident JJ B-ADJP *
that IN B-SBAR (S(S*
the DT B-NP (S*
export NN I-NP *
market NN I-NP *
will MD B-VP *
bounce VB I-VP *
back RB B-ADVP *S)S)
and CC O *
that DT B-NP (S*
demand NN I-NP (S*
in IN B-PP *
Korea NNP B-NP *
will MD B-VP *
stay VB I-VP *
strong JJ B-ADJP *S)S)S)
. . O *S)

Currently RB B-ADVP (S*
only RB O *
one CD O *
in IN O *
38 CD B-NP *
South NNP I-NP *
Koreans NNPS I-NP *
owns VBZ B-VP *
a DT B-NP *
car NN I-NP *
COMMA , O *
up IN B-ADVP *
from IN B-PP *
one CD O *
in IN O *
200 CD B-NP *
a DT B-NP *
decade NN I-NP *
ago RB B-ADVP *
. . O *S)

`` `` O (S*
In IN B-PP *
the DT B-NP *
year NN I-NP *
2000 CD O *
it PRP B-NP *
will MD B-VP *
be VB I-VP *
one CD B-NP *
car NN I-NP *
per IN B-PP *
family NN B-NP *
. . O *S)

At IN B-PP (S(S*
that DT B-NP *
point NN I-NP *
domestic JJ I-NP *
sales NNS I-NP *
will MD B-VP *
slow VB I-VP *
down RB O *S)
COMMA , O *
'' '' O *
says VBZ B-VP *
Kim NNP B-NP *
Yoon NNP I-NP *
Kwon NNP I-NP *
COMMA , O *
director NN B-NP *
of IN B-PP *
marketing NN B-NP *
for IN B-PP *
Daewoo NNP B-NP *
Motor NNP I-NP *
. . O *S)

The DT B-NP (S(S*
reason NN I-NP *
for IN B-PP *
the DT B-NP *
tremendous JJ I-NP *
demand NN I-NP *
is VBZ B-VP *
simple JJ B-ADJP *S)
: : O *
South NNP B-NP (S*
Koreans NNPS I-NP *
suddenly RB B-ADVP *
have VBP B-VP *
a DT B-NP *
lot NN I-NP *
more JJR B-NP *
money NN I-NP *S)
. . O *S)

`` `` O (S*
We PRP B-NP (S*
never RB B-ADVP *
thought VBD B-VP *
we PRP B-NP (S(S*
'd MD B-VP *
own VB I-VP *
a DT B-NP *
car NN I-NP *S)S)S)
COMMA , O *
'' '' O *
says VBZ B-VP *
Kwang NNP B-NP *
Ok NNP I-NP *
Kyong NNP I-NP *
COMMA , O *
who WP B-NP (S*
just RB B-ADVP (S*
bought VBD B-VP *
a DT B-NP *
Daewoo NNP I-NP *
LeMans NNP I-NP *
on IN B-PP *
a DT B-NP *
five-year JJ I-NP *
loan NN I-NP *S)S)
. . O *S)

She PRP B-NP (S*
and CC O *
her PRP$ B-NP *
husband NN I-NP *
started VBD B-VP *
a DT B-NP *
small JJ I-NP *
printing NN I-NP *
business NN I-NP *
and CC O *
need VB B-VP *
the DT B-NP *
car NN I-NP *
for IN B-PP *
work NN B-NP *
as RB B-CONJP *
well RB I-CONJP *
as IN I-CONJP *
for IN B-PP *
weekend NN B-NP *
jaunts NNS I-NP *
. . O *S)

Pay VB B-NP (S*
raises NNS I-NP *
of IN B-PP *
60 CD B-NP *
% NN I-NP *
over IN B-PP *
the DT B-NP *
past JJ I-NP *
three CD I-NP *
years NNS I-NP *
have VBP B-VP *
given VBN I-VP *
many JJ B-NP *
South NNP I-NP *
Koreans NNPS I-NP *
the DT B-NP *
money NN I-NP *
to TO B-VP (S(S*
enjoy VB I-VP *
the DT B-NP *
things NNS I-NP *
they PRP B-NP (S(S*
were VBD B-VP *
supplying VBG I-VP *
the DT B-NP *
rest NN I-NP *
of IN B-PP *
the DT B-NP *
world NN I-NP *S)S)S)S)
. . O *S)

The DT B-NP (S*
success NN I-NP *
of IN B-PP *
newcomer NN B-NP *
SsangYong NNP I-NP *
Motor NNP I-NP *
shows VBZ B-VP *
the DT B-NP *
strength NN I-NP *
of IN B-PP *
the DT B-NP *
auto NN I-NP *
market NN I-NP *
and CC O *
its PRP$ B-NP *
growing NN I-NP *
diversity NN I-NP *
. . O *S)

A DT B-NP (S(S*
part NN I-NP *
of IN B-PP *
the DT B-NP *
construction-oriented JJ I-NP *
conglomerate NN I-NP *
SsangYong NNP I-NP *
Group NNP I-NP *S)
COMMA , O *
it PRP B-NP *
took VBD B-VP *
over IN B-PP *
the DT B-NP *
dying VBG I-NP *
Dong-A NNP I-NP *
Motor NNP I-NP *
Co. NNP I-NP *
in IN B-PP *
1986 CD B-NP *
. . O *S)

SsangYong NNP B-NP (S*
began VBD B-VP *
making VBG B-VP *
variations NNS B-NP *
of IN B-PP *
the DT B-NP *
Jeep-like JJ I-NP *
`` `` I-NP *
Korando NNP I-NP *
'' '' O *
vehicle NN O *
. . O *S)

( -LRB- B-NP (S*
Dong-A NNP I-NP *
had VBD B-VP *
had VBN I-VP *
a DT B-NP *
technology NN I-NP *
agreement NN I-NP *
with IN B-PP *
Jeep NN B-NP *
maker NN I-NP *
American NNP I-NP *
Motors NNPS I-NP *
Corp. NNP I-NP *
COMMA , O *
now RB B-NP *
a DT I-NP *
part NN I-NP *
of IN B-PP *
Chrysler NNP B-NP *
Corp NNP I-NP *
. . O *
) -RRB- O *S)

The DT B-NP (S*
most RBS I-NP *
popular JJ I-NP *
style NN I-NP *
is VBZ B-VP *
the DT O *
stretched VBN O *
`` `` O *
Family NNP B-NP *
COMMA , O *
'' '' O *
which WDT B-NP (S*
resembles VBZ B-VP (S*
a DT B-NP *
Ford NNP I-NP *
Bronco NNP I-NP *
or CC I-NP *
Chevy NNP I-NP *
Blazer NNP I-NP *S)S)
. . O *S)

The DT B-NP (S(S*
four-wheel-drive NN I-NP *
vehicles NNS I-NP *
start VBP B-VP *
at IN B-PP *
$ $ B-NP *
15COMMA000 CD I-NP *S)
; : O *
a DT B-NP (S*
Family NNP I-NP *
can MD B-VP *
cost VB I-VP *
over IN O *
$ $ B-NP *
25COMMA000 CD I-NP *S)
. . O *S)

SsangYong NNP B-NP (S*
COMMA , O *
which WDT B-NP (S*
has VBZ B-VP (S*
only RB B-NP *
about IN I-NP *
3 CD I-NP *
% NN I-NP *
of IN B-PP *
the DT B-NP *
domestic JJ I-NP *
market NN I-NP *S)S)
COMMA , O *
will MD B-VP *
sell VB I-VP *
about IN O *
18COMMA000 CD B-NP *
of IN B-PP *
its PRP$ B-NP *
models NNS I-NP *
this DT B-NP *
year NN I-NP *
COMMA , O *
twice RB B-ADVP *
as RB O *
many JJ O *
as IN B-PP *
last JJ B-NP *
year NN I-NP *
. . O *S)

It PRP B-NP (S*
sees VBZ B-VP *
sales NNS B-NP (S*
rising VBG B-VP *
45 CD B-NP *
% NN I-NP *
to TO B-PP *
26COMMA000 CD B-NP *
units NNS I-NP *
next JJ B-NP *
year NN I-NP *S)
. . O *S)

The DT B-NP (S*
company NN I-NP *
plans NNS B-VP *
to TO I-VP *
expand VB I-VP *
plant NN B-NP *
capacity NN I-NP *
50 CD I-NP *
% NN I-NP *
by IN B-PP *
1991 CD B-NP *
. . O *S)

By IN B-PP (S*
then RB O *
it PRP B-NP *
also RB B-ADVP *
hopes VBZ B-VP *
to TO I-VP *
begin VB I-VP *
producing VBG I-VP *
a DT B-NP *
passenger NN I-NP *
car NN I-NP *
based VBN O *
on IN B-PP *
the DT O *
Volvo NNP O *
240 CD O *
and CC O *
selling VBG O *
for IN B-PP *
about RB B-NP *
$ $ I-NP *
20COMMA000 CD I-NP *
. . O *S)

Hyundai NNP B-NP (S(S*
and CC I-NP *
Daewoo NNP I-NP *
seem VB B-VP *
unconcerned JJ B-ADJP *
about IN B-PP *
the DT B-NP *
SsangYong NNP I-NP *
threat NN I-NP *S)
COMMA , O *
but CC O *
Kia NNP B-NP (S*
COMMA , O *
the DT B-NP *
scrappy JJ I-NP *
No.3 JJ I-NP *
auto NN I-NP *
maker NN I-NP *
COMMA , O *
is VBZ B-VP *
selling VBG I-VP *
four-wheel-drive NN B-NP *
vehicles NNS I-NP *
through IN B-PP *
its PRP$ B-NP *
Asia NNP I-NP *
unit NN I-NP *S)
. . O *S)

It PRP B-NP (S*
plans VBZ B-VP *
to TO I-VP *
sell VB I-VP *
1COMMA700 CD B-NP *
units NNS I-NP *
in IN B-PP *
1989 CD B-NP *
. . O *S)

Kia NNP B-NP (S*
COMMA , O *
the DT B-NP *
only RB I-NP *
Korean JJ I-NP *
car NN I-NP *
maker NN I-NP *
that WDT B-NP (S*
has VBZ B-VP (S*
seen VBN I-VP *
its PRP$ B-NP (S*
overseas JJ I-NP *
sales NNS I-NP *
grow VBP B-VP *
in IN B-PP *
1989 CD B-NP *S)S)S)
COMMA , O *
aims VBZ B-VP *
at IN B-PP *
Korea NNP B-NP *
's POS B-NP *
common JJ I-NP *
man NN I-NP *
. . O *S)

Its PRP$ B-NP (S*
advantage NN I-NP *
has VBZ B-VP *
been VBN I-VP *
the DT B-NP *
peppy JJ I-NP *
little JJ I-NP *
Pride NNP I-NP *
COMMA , O *
sold VBN B-VP *
as IN B-PP *
the DT B-NP *
Ford NNP I-NP *
Festiva NNP I-NP *
in IN B-PP *
the DT B-NP *
U.S. NNP I-NP *
. . O *S)

At IN B-PP (S*
3.8 CD O *
million CD O *
won VBD O *
COMMA , O *
or CC O *
$ $ B-NP *
5COMMA700 CD I-NP *
COMMA , O *
the DT B-NP *
econobox NN I-NP *
is VBZ B-VP *
the DT B-NP *
lowest-priced JJ I-NP *
car NN I-NP *
in IN B-PP *
South NNP B-NP *
Korea NNP I-NP *
. . O *S)

Along IN B-PP (S*
with IN B-PP *
two CD B-NP *
larger JJR I-NP *
models NNS I-NP *
COMMA , O *
the DT B-NP *
company NN I-NP *
claims NNS B-VP *
18 CD B-NP *
% NN I-NP *
of IN B-PP *
the DT B-NP *
domestic JJ I-NP *
market NN I-NP *
. . O *S)

Ford NNP B-NP (S*
Motor NNP I-NP *
Co. NNP I-NP *
and CC O *
Japan NNP B-NP *
's POS B-NP *
Mazda NNP I-NP *
Motor NNP I-NP *
Corp. NNP I-NP *
have VBP B-VP *
equity NN B-NP *
interests NNS I-NP *
in IN B-PP *
Kia NNP B-NP *
. . O *S)

Kia NNP B-NP (S*
is VBZ B-VP *
the DT B-NP *
most RBS I-NP *
aggressive JJ I-NP *
of IN B-PP *
the DT B-NP *
Korean NNP I-NP *
Big NNP I-NP *
Three CD I-NP *
in IN B-PP *
offering NN B-NP (S*
financing NN I-NP *S)
. . O *S)

Loans NNS B-NP (S*
for IN B-PP *
as RB O *
long RB O *
as IN B-PP *
five CD B-NP *
years NNS I-NP *
make VBP B-VP *
the DT B-NP *
cars NNS I-NP *
very RB B-ADJP *
accessible JJ I-ADJP *
COMMA , O *
with IN B-PP *
monthly JJ O *
payments NNS O *
as RB O *
low JJ O *
as IN B-PP *
80COMMA000 CD O *
won VBD O *
COMMA , O *
or CC O *
$ $ B-NP *
120 CD I-NP *
. . O *S)

Daewoo NNP B-NP (S*
Motor NNP I-NP *
COMMA , O *
a DT B-NP *
50-50 JJ I-NP *
joint JJ I-NP *
venture NN I-NP *
with IN B-PP *
General NNP B-NP *
Motors NNPS I-NP *
Corp. NNP I-NP *
and CC O *
the DT B-NP *
Daewoo NNP I-NP *
Group NNP I-NP *
conglomerate NN I-NP *
COMMA , O *
is VBZ B-VP *
the DT B-NP *
only JJ I-NP *
auto NN I-NP *
maker NN I-NP *
that WDT B-NP (S*
appears VBZ B-VP (S*
to TO I-VP *
be VB I-VP *
hurting VBG I-VP *S)S)
. . O *S)

Shipments NNS B-NP (S*
of IN B-PP *
its PRP$ B-NP *
Lemans NNP I-NP *
to TO B-PP *
GM NNP B-NP *
's POS B-NP *
Pontiac NNP I-NP *
division NN I-NP *
are VBP B-VP *
off IN B-PP *
about IN B-NP *
65 CD I-NP *
% NN I-NP *
from IN B-PP *
a DT B-NP *
year NN I-NP *
ago RB B-ADVP *
COMMA , O *
versus IN B-PP *
a DT B-NP *
44 CD I-NP *
% NN I-NP *
decline NN I-NP *
for IN B-PP *
Hyundai NNP B-NP *
and CC O *
an DT B-NP *
18 CD I-NP *
% NN I-NP *
increase NN I-NP *
for IN B-PP *
Kia NNP B-NP *
. . O *S)

Moreover RB B-ADVP (S*
COMMA , O *
Daewoo NNP B-NP *
's POS B-NP *
domestic JJ I-NP *
sales NNS I-NP *
have NN O *
grown VBN O *
half NN O *
as RB B-ADVP *
fast RB I-ADVP *
as IN B-SBAR *
sales NNS B-NP *
of IN B-PP *
its PRP$ B-NP *
rivals NNS I-NP *
. . O *S)

The DT B-NP (S*
big JJ I-NP *
problem NN I-NP *
for IN B-PP *
Daewoo NNP B-NP *
COMMA , O *
which WDT B-NP (S*
holds VBZ B-VP (S*
about IN B-NP *
21 CD I-NP *
% NN I-NP *
of IN B-PP *
the DT B-NP *
market NN I-NP *S)S)
COMMA , O *
is VBZ B-VP *
the DT B-NP *
long JJ I-NP *
series NN I-NP *
of IN B-PP *
labor NN B-NP *
disruptions NNS I-NP *
it PRP B-NP (S(S*
suffered VBD B-VP *
this DT B-NP *
year NN I-NP *S)S)
. . O *S)

But CC O (S*
Daewoo NNP B-NP *
is VBZ B-VP *
expanding VBG I-VP *
too RB B-ADVP *
. . O *S)

In IN B-PP (S*
fact NN B-NP *
COMMA , O *
a DT B-NP *
sister NN I-NP *
company NN I-NP *
COMMA , O *
Daewoo NNP B-NP *
Shipbuilding NNP I-NP *
and CC O *
Heavy NNP B-NP *
Machinery NNP I-NP *
COMMA , O *
plans VBZ B-VP *
to TO I-VP *
build VB I-VP *
240COMMA000 CD B-NP *
minicars NNS I-NP *
by IN B-PP *
the DT B-NP *
mid-1990s NNS I-NP *
. . O *S)

Hyundai NNP B-NP (S*
COMMA , O *
the DT B-NP *
Korean JJ I-NP *
market NN I-NP *
leader NN I-NP *
with IN B-PP *
a DT B-NP *
58 CD I-NP *
% NN I-NP *
share NN I-NP *
COMMA , O *
also RB B-ADVP *
plans VBZ B-VP *
to TO I-VP *
jump VB I-VP *
into IN B-PP *
minicars NNS B-NP *
at IN B-PP *
the DT B-NP *
same JJ I-NP *
time NN I-NP *
. . O *S)

It PRP B-NP (S*
has VBZ B-VP *
a DT B-NP *
similar JJ I-NP *
project NN I-NP *
for IN B-PP *
200COMMA000 CD B-NP *
cars NNS I-NP *
a DT B-NP *
year NN I-NP *
. . O *S)

Kia NNP B-NP (S*
is VBZ B-VP *
reportedly RB O *
also RB O *
considering VBG O *
such JJ B-NP *
a DT I-NP *
plan NN I-NP *
. . O *S)

Even JJ B-NP (S(S*
giant NN I-NP *
Samsung NNP I-NP *
Group NNP I-NP *
is VBZ B-VP *
rumored VBN I-VP *
in IN B-PP *
the DT B-NP *
Korean JJ I-NP *
press NN I-NP *
to TO B-VP (S*
be VB I-VP *
considering VBG I-VP *
getting VBG B-VP *
into IN B-PP *
the DT B-NP *
auto-making NN I-NP *
business NN I-NP *S)S)
; : O *
a DT B-NP (S*
company NN I-NP *
spokesman NN I-NP *
had VBD B-VP *
no DT B-NP *
comment NN I-NP *S)
. . O *S)

Robert NNP B-NP (S*
P. NNP I-NP *
Bulseco NNP I-NP *
COMMA , O *
44 CD B-NP *
years NNS I-NP *
old JJ B-ADJP *
COMMA , O *
was VBD B-VP *
named VBN I-VP *
president NN B-NP *
and CC O *
chief JJ B-NP *
administrative JJ I-NP *
officer NN I-NP *
of IN B-PP *
this DT B-NP *
regional JJ I-NP *
commercial JJ I-NP *
bank NN I-NP *
. . O *S)

Both DT B-NP (S*
posts NNS I-NP *
had VBD B-VP *
been VBN I-VP *
vacant JJ B-ADJP *
. . O *S)

Robert NNP B-NP (S*
Robie NNP I-NP *
COMMA , O *
51 CD B-NP *
COMMA , O *
was VBD B-VP *
named VBN I-VP *
to TO B-PP *
the DT B-NP *
new JJ I-NP *
positions NNS I-NP *
of IN B-PP *
vice NN B-NP *
chairman NN I-NP *
and CC O *
chief JJ B-NP *
credit NN I-NP *
officer NN I-NP *
. . O *S)

Many JJ B-NP (S*
skittish JJ I-NP *
mutual JJ I-NP *
fund NN I-NP *
investors NNS I-NP *
picked VBD B-VP *
up IN B-PP *
the DT B-NP *
phone NN I-NP *
yesterday NN B-NP *
COMMA , O *
but CC O *
decided VBD B-VP *
not RB O (S*
to TO B-VP *
cash VB I-VP *
in IN B-PP *
their PRP$ B-NP *
chips NNS I-NP *
after IN O *
all DT O *S)
. . O *S)

As IN B-PP (S(S*
the DT B-NP (S*
stock NN I-NP *
market NN I-NP *
bounced VBD B-VP *
back RB B-ADVP *S)S)
COMMA , O *
withdrawals NNS B-NP *
of IN B-PP *
money NN B-NP *
from IN B-PP *
stock NN B-NP *
funds NNS I-NP *
amounted VBD B-VP *
to TO B-PP *
a DT B-NP *
mere JJ I-NP *
trickle NN I-NP *
compared VBN B-PP *
with IN B-PP *
Black NNP B-NP *
Monday NNP I-NP *
COMMA , O *
when WRB B-ADVP (S*
investors NNS B-NP (S*
dumped VBD B-VP *
$ $ B-NP *
2.3 CD I-NP *
billion CD I-NP *
COMMA , O *
or CC O *
about IN B-NP *
2 CD I-NP *
% NN I-NP *
of IN B-PP *
stock-fund JJ B-NP *
assets NNS I-NP *S)S)
. . O *S)

Fidelity NNP B-NP (S*
Investments NNPS I-NP *
COMMA , O *
the DT B-NP *
nation NN I-NP *
's POS B-NP *
largest JJS I-NP *
fund NN I-NP *
company NN I-NP *
COMMA , O *
said VBD B-VP *
phone NN B-NP (S(S*
volume NN I-NP *
was VBD B-VP *
more JJR O *
than IN O *
double JJ O *
its PRP$ B-NP *
typical JJ I-NP *
level NN I-NP *
COMMA , O *
but CC O *
still JJ B-NP *
half NN I-NP *
that IN O *
of IN B-PP *
Oct. NNP B-NP *
19 CD I-NP *
COMMA , I-NP *
1987 CD I-NP *S)S)
. . O *S)

Net JJ B-NP (S*
outflows NNS I-NP *
from IN B-PP *
Fidelity NNP B-NP *
's POS B-NP *
stock NN I-NP *
funds NNS I-NP *
stood VBD B-VP *
at IN B-PP *
less JJR B-NP *
than IN I-NP *
$ $ I-NP *
300 CD I-NP *
million CD I-NP *
COMMA , O *
or CC O *
below IN B-NP *
15 CD I-NP *
% NN I-NP *
of IN B-PP *
the DT B-NP *
$ $ I-NP *
2 CD I-NP *
billion CD I-NP *
cash NN I-NP *
position NN I-NP *
of IN B-PP *
the DT B-NP *
firm NN I-NP *
's POS B-NP *
stock NN I-NP *
portfolios NNS I-NP *
. . O *S)

Much RB B-NP (S*
of IN B-PP *
the DT B-NP *
money NN I-NP *
was VBD B-VP *
switched VBN I-VP *
into IN B-PP *
the DT B-NP *
firm NN I-NP *
's POS B-NP *
money NN I-NP *
market NN I-NP *
funds NNS I-NP *
. . O *S)

Outflows NNS B-NP (S(S*
since IN B-PP *
the DT B-NP *
close NN I-NP *
of IN B-PP *
trading NN B-NP *
Friday NNP B-NP *
remain VB B-VP *
below IN B-PP *
one-third NN B-NP *
their PRP$ B-NP *
level NN I-NP *
of IN B-PP *
two CD B-NP *
years NNS I-NP *
ago RB B-ADVP *S)
COMMA , O *
Fidelity NNP B-NP *
said VBD B-VP *
. . O *S)

Other JJ B-NP (S*
mutual JJ I-NP *
fund NN I-NP *
companies NNS I-NP *
reported VBD B-VP *
even RB B-NP *
lighter JJR I-NP *
withdrawal NN I-NP *
requests NNS I-NP *
. . O *S)

And CC O (S*
some DT B-NP *
investors NNS I-NP *
at IN B-PP *
Fidelity NNP B-NP *
and CC O *
elsewhere RB B-ADVP *
even RB I-ADVP *
began VBD B-VP *
buying VBG I-VP *
stock NN B-NP *
funds NNS I-NP *
during IN B-PP *
the DT B-NP *
day NN I-NP *
. . O *S)

`` `` O (S*
Two CD B-NP (S*
years NNS I-NP *
ago RB B-ADVP *
COMMA , O *
there EX B-NP *
was VBD B-VP *
a DT B-NP *
lot NN I-NP *
of IN B-PP *
redemption NN B-NP *
activity NN I-NP *
and CC I-NP *
trouble NN I-NP *
with IN B-PP *
people NNS B-NP (S*
getting VBG B-VP *
through IN B-PRT *
on IN B-PP *
the DT B-NP *
phone NN I-NP *S)S)
COMMA , O *
'' '' O *
said VBD B-VP *
Kathryn NNP B-NP *
McGrath NNP I-NP *
COMMA , O *
head NN B-NP *
of IN B-PP *
the DT B-NP *
investment NN I-NP *
management NN I-NP *
division NN I-NP *
of IN B-PP *
the DT B-NP *
Securities NNP I-NP *
and CC I-NP *
Exchange NNP I-NP *
Commission NNP I-NP *
. . O *S)

This DT B-NP (S*
time NN I-NP *
COMMA , O *
`` `` O *
We PRP B-NP *
do VBP B-VP *
n't RB I-VP *
have VB I-VP *
that IN B-NP *
at IN B-ADVP *
all DT I-ADVP *
. . O *
'' '' O *S)

Of IN B-PP (S*
course NN B-NP *
COMMA , O *
the DT B-NP *
relative JJ I-NP *
calm NN I-NP *
could MD B-VP *
be VB I-VP *
jolted VBN I-VP *
if IN O (S*
the DT B-NP (S*
market NN I-NP *
plunges NNS I-NP *
again RB B-ADVP *S)S)
. . O *S)

And CC O (S*
any DT B-NP *
strong JJ I-NP *
surge NN I-NP *
in IN B-PP *
redemptions NNS B-NP *
could MD B-VP *
force VB I-VP *
some DT B-NP (S*
funds NNS I-NP *
to TO B-VP *
dump VB I-VP *
stocks NNS B-NP *
to TO B-VP (S*
raise VB I-VP *
cash NN B-NP *S)
COMMA , O *
as IN B-SBAR (S*
some DT B-NP (S*
did VBD B-VP *
during IN B-PP *
Black NNP B-NP *
Monday NNP I-NP *S)S)S)
. . O *S)

But CC O (S*
funds NNS B-NP *
generally RB B-ADVP *
are VBP B-VP *
better RBR O *
prepared VBN O *
this DT B-NP *
time NN I-NP *
around RB B-ADVP *
. . O *S)

As IN B-PP (S*
a DT B-NP *
group NN I-NP *
COMMA , O *
their PRP$ B-NP *
cash NN I-NP *
position NN I-NP *
of IN B-PP *
10.2 CD B-NP *
% NN I-NP *
of IN B-PP *
assets NNS B-NP *
in IN B-PP *
August NNP B-NP *
-- : O *
the DT B-NP *
latest JJS I-NP *
figure NN I-NP *
available JJ B-ADJP *
-- : O *
is VBZ B-VP *
14 CD B-NP *
% NN I-NP *
higher JJR O *
than IN O *
two CD O *
years NNS O *
earlier RBR B-ADVP *
. . O *S)

Many JJ B-NP (S*
fund NN I-NP *
managers NNS I-NP *
have VBP B-VP *
boosted VBN I-VP *
their PRP$ B-NP *
cash NN I-NP *
levels NNS I-NP *
in IN B-PP *
recent JJ B-NP *
weeks NNS I-NP *
. . O *S)

The DT B-NP (S*
biggest JJS I-NP *
flurry NN I-NP *
of IN B-PP *
investor NN B-NP *
activity NN I-NP *
came VBD B-VP *
early RB B-ADVP *
in IN B-PP *
the DT B-NP *
day NN I-NP *
. . O *S)

Vanguard NNP B-NP (S*
Group NNP I-NP *
Inc. NNP I-NP *
saw VBD B-VP *
heavy JJ B-NP *
exchanges NNS I-NP *
from IN B-PP *
stock NN B-NP *
funds NNS I-NP *
into IN B-PP *
money NN B-NP *
market NN I-NP *
funds NNS I-NP *
after IN B-PP (S*
the DT B-NP (S*
telephone NN I-NP *
lines NNS I-NP *
opened VBD B-VP *
at IN B-PP *
8:30 CD B-NP *
a.m RB I-NP *S)S)
. . O *S)

`` `` O (S*
In IN B-PP (S*
the DT B-NP *
first JJ I-NP *
hour NN I-NP *
COMMA , O *
the DT B-NP *
real JJ I-NP *
nervous JJ I-NP *
folks NNS I-NP *
came VBD B-VP *
along IN B-ADVP *S)
COMMA , O *
'' '' O *
a DT B-NP *
spokesman NN I-NP *
said VBD B-VP *
. . O *S)

`` `` O (S*
But CC O *
the DT B-NP *
horrendous JJ I-NP *
pace NN I-NP *
of IN B-PP *
call NN B-NP *
volume NN I-NP *
in IN B-PP *
the DT B-NP *
first JJ I-NP *
half-hour NN I-NP *
slowed VBD B-VP *
considerably RB B-PRT *
. . O *
'' '' O *S)

At IN B-PP (S*
Scudder NNP B-NP *
COMMA , I-NP *
Stevens NNP I-NP *
& CC I-NP *
Clark NNP I-NP *
Inc. NNP I-NP *
COMMA , O *
phone NN B-NP *
calls NNS I-NP *
came VBD B-VP *
in IN B-PP *
at IN B-PP *
40 CD B-NP *
% NN I-NP *
more JJR B-ADJP *
than IN B-PP *
the DT B-NP *
normal JJ I-NP *
pace NN I-NP *
through IN B-PP *
early JJ B-NP *
afternoon NN I-NP *
. . O *S)

Most JJS B-NP (S*
of IN B-PP *
that DT B-NP *
increase NN I-NP *
came VBD B-VP *
in IN B-PP *
the DT B-NP *
first JJ I-NP *
hour NN I-NP *
after IN B-PP (S*
the DT B-NP (S*
phone NN I-NP *
lines NNS I-NP *
opened VBD B-VP *
at IN B-PP *
8 CD B-NP *
a.m RB I-NP *S)S)
. . O *S)

As IN B-SBAR (S(S*
stocks NNS B-NP (S*
rose VBD B-VP *S)S)
COMMA , O *
in IN B-PP *
fact NN B-NP *
COMMA , O *
some DT B-NP *
investors NNS I-NP *
changed VBD B-VP *
course NN B-NP *
and CC O *
reversed VBD B-VP *
their PRP$ B-NP *
sell NN I-NP *
orders NNS I-NP *
. . O *S)

Many JJ B-NP (S*
funds NNS I-NP *
allow VBP B-VP *
investors NNS B-NP (S*
to TO B-VP *
void VB I-VP *
orders NNS B-NP *
before IN B-PP *
the DT B-NP *
close NN I-NP *
of IN B-PP *
trading NN B-NP *S)
. . O *S)

At IN B-PP (S*
Scudder NNP O *
and CC O *
at IN B-PP *
the DT B-NP *
smaller JJR I-NP *
Ivy NNP I-NP *
funds NNS I-NP *
group VBP I-NP *
in IN B-PP *
Hingham NNP B-NP *
COMMA , O *
Mass. NNP B-NP *
COMMA , O *
for IN B-PP *
instance NN B-NP *
COMMA , O *
some DT B-NP *
shareholders NNS I-NP *
called VBN B-VP *
early RB B-ADVP *
in IN B-PP *
the DT B-NP *
morning NN I-NP *
to TO B-VP (S*
switch VB I-VP *
money NN B-NP *
from IN B-PP *
stock NN B-NP *
funds NNS I-NP *
to TO B-PP *
money NN B-NP *
market NN I-NP *
funds NNS I-NP *S)
COMMA , O *
but CC O *
later RB B-VP *
called VBN I-VP *
back RB B-ADVP *
to TO B-VP (S*
reverse VB I-VP *
the DT B-NP *
switches NNS I-NP *S)
. . O *S)

Because IN B-SBAR (S(S*
mutual JJ B-NP (S*
fund NN I-NP *
trades NNS I-NP *
do VBP B-VP *
n't RB I-VP *
take VB I-VP *
effect NN B-NP *
until IN B-PP *
the DT B-NP *
market NN I-NP *
close NN I-NP *
-- : O *
in IN B-PP *
this DT B-NP *
case NN I-NP *
COMMA , O *
at IN B-PP *
4 CD B-NP *
p.m. NN I-NP *
-- : O *S)S)
these DT B-NP *
shareholders NNS I-NP *
effectively RB B-ADVP *
stayed VBD B-VP *
put VBN I-VP *
. . O *S)

At IN B-PP (S*
Fidelity NNP B-NP *
's POS B-NP *
office NN I-NP *
in IN B-PP *
downtown NN B-NP *
Boston NNP I-NP *
COMMA , O *
Gerald NNP B-NP *
Sherman NNP I-NP *
walked VBD B-VP *
in IN B-PP *
shortly RB B-ADVP *
after IN B-PP *
7:30 CD B-NP *
a.m. NN I-NP *
and CC O *
placed VBD B-VP *
an DT B-NP *
order NN I-NP *
to TO B-VP (S*
switch VB I-VP *
his PRP$ O *
retirement NN O *
accounts NNS O *
out IN B-PP *
of IN B-PP *
three CD B-NP *
stock NN I-NP *
funds NNS I-NP *
and CC O *
into IN B-PP *
a DT B-NP *
money NN I-NP *
market NN I-NP *
fund NN I-NP *S)
. . O *S)

But CC O (S*
by IN B-PP *
3:15 CD B-NP *
p.m. NN I-NP *
COMMA , O *
with IN B-PP *
the DT B-NP *
market NN I-NP *
comfortably RB B-ADVP *
ahead RB I-ADVP *
for IN B-PP *
the DT B-NP *
day NN I-NP *
COMMA , O *
Mr. NNP B-NP *
Sherman NNP I-NP *
was VBD B-VP *
preparing VBG I-VP *
to TO I-VP *
undo VB I-VP *
his PRP$ B-NP *
switch NN I-NP *
. . O *S)

`` `` O (S*
It PRP B-NP (S*
's VBZ B-VP *
a DT B-NP *
nice JJ I-NP *
feeling NN I-NP *
to TO B-VP (S*
know VB I-VP *
that IN B-SBAR (S*
things NNS B-NP (S*
stabilized VBN B-VP *S)S)S)S)
COMMA , O *
'' '' O *
said VBD B-VP *
Mr. NNP B-NP *
Sherman NNP I-NP *
COMMA , O *
the DT B-NP *
51-year-old JJ I-NP *
co-owner NN I-NP *
of IN B-PP *
a DT B-NP *
discount NN I-NP *
department NN I-NP *
store NN I-NP *
. . O *S)

But CC O (S*
some DT B-NP *
investors NNS I-NP *
continued VBD B-VP *
to TO I-VP *
switch VB I-VP *
out IN B-PP *
of IN B-PP *
high-risk JJ B-NP *
COMMA , I-NP *
high-yield JJ I-NP *
junk NN I-NP *
funds NNS I-NP *
despite IN B-PP *
yesterday NN B-NP *
's POS B-NP *
rebound NN I-NP *
from IN B-PP *
that DT B-NP *
market NN I-NP *
's POS B-NP *
recent JJ I-NP *
price NN I-NP *
declines NNS I-NP *
. . O *S)

Shareholders NNS B-NP (S*
have VBP B-VP *
been VBN I-VP *
steadily RB I-VP *
bailing VBG I-VP *
out IN B-PP *
of IN B-PP *
several JJ B-NP *
big JJ I-NP *
junk NN I-NP *
funds VBZ B-VP *
the DT B-NP *
past JJ I-NP *
several JJ I-NP *
weeks NNS I-NP *
as IN B-PP (S*
the DT B-NP (S*
$ $ I-NP *
200 CD I-NP *
billion CD I-NP *
market NN I-NP *
was VBD B-VP *
jolted VBN I-VP *
by IN B-PP *
a DT B-NP *
cash NN I-NP *
crunch NN I-NP *
at IN B-PP *
Campeau NNP B-NP *
Corp. NNP I-NP *
and CC O *
steadily RB O *
declining VBG O *
prices NNS B-NP *S)S)
. . O *S)

Much RB B-NP (S(S*
of IN B-PP *
the DT B-NP *
money NN I-NP *
has VBZ B-VP *
been VBN I-VP *
switched VBN I-VP *
into IN B-PP *
money NN B-NP *
market NN I-NP *
funds NNS I-NP *S)
COMMA , O *
fund NN B-NP *
executives NNS I-NP *
say VBP B-VP *
. . O *S)

Instead RB O (S*
of IN O *
selling VBG B-VP (S*
bonds NNS B-NP *
to TO B-VP (S*
meet VB I-VP *
redemptions NNS B-NP *S)S)
COMMA , O *
however RB B-ADVP *
COMMA , O *
some DT B-NP *
funds NNS I-NP *
have VBP B-VP *
borrowed VBN I-VP *
from IN B-PP *
banks NNS B-NP *
to TO B-VP (S*
meet VB I-VP *
withdrawal NN B-NP *
requests NNS I-NP *S)
. . O *S)

This DT B-NP (S*
avoids VBZ B-VP *
knocking VBG I-VP *
down RB B-PRT *
prices VBZ B-NP *
further JJ B-ADVP *
. . O *S)

The DT B-NP (S(S*
$ $ I-NP *
1.1 CD I-NP *
billion CD I-NP *
T. NNP I-NP *
Rowe NNP I-NP *
Price NNP I-NP *
High NNP I-NP *
Yield NNP I-NP *
Fund NNP I-NP *
was VBD B-VP *
among IN B-PP *
the DT B-NP *
funds NNS I-NP *
that WDT B-NP (S*
borrowed VBD B-VP (S*
during IN B-PP *
the DT B-NP *
Campeau NNP I-NP *
crisis NN I-NP *S)S)S)
COMMA , O *
says VBZ B-VP *
George NNP B-NP *
J. NNP I-NP *
Collins NNP I-NP *
COMMA , O *
president NN B-NP *
of IN B-PP *
T. NNP B-NP *
Rowe NNP I-NP *
Price NNP I-NP *
Associates NNP I-NP *
Inc NNP I-NP *
. . O *S)

That DT B-NP (S*
way NN I-NP *
COMMA , O *
Mr. NNP B-NP *
Collins NNP I-NP *
says VBZ B-VP *
COMMA , O *
`` `` O *
We PRP B-NP (S*
did VBD B-VP *
n't RB I-VP *
have VB I-VP *
to TO I-VP *
sell VB I-VP *
securities NNS B-NP *
in IN B-PP *
a DT B-NP *
sloppy JJ I-NP *
market NN I-NP *S)
. . O *
'' '' O *S)

When WRB B-ADVP (S(S*
the DT B-NP (S*
market NN I-NP *
stabilized VBN B-VP *S)S)
COMMA , O *
he PRP B-NP (S*
added VBD B-VP *S)
COMMA , O *
the DT B-NP *
firm NN I-NP *
sold VBD B-VP *
the DT B-NP *
bonds NNS I-NP *
and CC O *
quickly RB O *
paid VBN B-VP *
the DT B-NP *
loans NNS I-NP *
back RB B-ADVP *
. . O *S)

Tom NNP B-NP (S*
Herman NNP I-NP *
contributed VBD B-VP *
to TO B-PP *
this DT B-NP *
article NN I-NP *
. . O *S)

Amcore NNP B-NP (S*
Financial NNP I-NP *
Inc. NNP I-NP *
said VBD B-VP *
it PRP B-NP (S(S*
agreed VBD B-VP *
to TO I-VP *
acquire VB I-VP *
Central NNP B-NP *
of IN B-PP *
Illinois NNP B-NP *
Inc. NNP I-NP *
in IN B-PP *
a DT B-NP *
stock NN I-NP *
swap NN I-NP *S)S)
. . O *S)

Shareholders NNS B-NP (S(S*
of IN B-PP *
Central NNP B-NP *
COMMA , O *
a DT B-NP *
bank NN I-NP *
holding VBG I-NP *
company NN I-NP *
based VBN B-VP *
in IN B-PP *
Sterling NNP B-NP *
COMMA , O *
Ill. NNP B-NP *
COMMA , O *
will MD B-VP *
receive VB I-VP *
Amcore NNP B-NP *
stock NN I-NP *
equal JJ B-ADJP *
to TO B-PP *
10 CD B-NP *
times NNS I-NP *
Central NNP B-NP *
's POS B-NP *
1989 CD I-NP *
earnings NNS I-NP *S)
COMMA , O *
Amcore NNP B-NP *
said VBD B-VP *
. . O *S)

For IN B-PP (S*
the DT B-NP *
first JJ I-NP *
nine CD I-NP *
months NNS I-NP *
of IN B-PP *
1989 CD B-NP *
COMMA , O *
Central NNP B-NP *
earned VBD B-VP *
$ $ B-NP *
2 CD I-NP *
million CD I-NP *
. . O *S)

Amcore NNP B-NP (S*
COMMA , O *
also RB B-ADVP *
a DT B-NP *
bank NN I-NP *
holding VBG I-NP *
company NN I-NP *
COMMA , O *
has VBZ B-VP *
assets NNS B-NP *
of IN B-PP *
$ $ B-NP *
1.06 CD I-NP *
billion CD I-NP *
. . O *S)

Central NNP B-NP (S*
's POS B-NP *
assets NNS I-NP *
are VBP B-VP *
$ $ B-NP *
240 CD I-NP *
million CD I-NP *
. . O *S)

( -LRB- O (S*
During IN B-PP *
its PRP$ B-NP *
centennial NN I-NP *
year NN I-NP *
COMMA , O *
The DT B-NP *
Wall NNP I-NP *
Street NNP I-NP *
Journal NNP I-NP *
will MD B-VP *
report VB I-VP *
events NNS B-NP *
of IN B-PP *
the DT B-NP *
past JJ I-NP *
century NN I-NP *
that WDT B-NP (S*
stand VBP B-VP (S*
as IN B-PP *
milestones NNS B-NP *
of IN B-PP *
American JJ B-NP *
business NN I-NP *
history NN I-NP *S)S)
. . O *
) -RRB- O *S)

SOFT JJ B-NP (S*
CONTACT NN I-NP *
LENSES NNS I-NP *
WON VBP B-VP *
federal JJ B-NP *
blessing NN I-NP *
on IN B-PP *
March NNP B-NP *
18 CD I-NP *
COMMA , I-NP *
1971 CD I-NP *
COMMA , O *
and CC O *
quickly RB B-VP *
became VBD I-VP *
eye NN B-NP *
openers NNS I-NP *
for IN B-PP *
their PRP$ B-NP *
makers NNS I-NP *
. . O *S)

The DT B-NP (S*
Food NNP I-NP *
and CC I-NP *
Drug NNP I-NP *
Administration NNP I-NP *
that DT B-NP *
day NN I-NP *
said VBD B-VP *
Bausch NNP B-NP (S(S*
& CC I-NP *
Lomb NNP I-NP *
could MD B-VP *
start VB I-VP *
selling VBG I-VP *
them PRP B-NP *
in IN B-PP *
the DT B-NP *
U.S. NNP I-NP *S)S)
. . O *S)

The DT B-NP (S*
cornflake-size JJ I-NP *
product NN I-NP *
was VBD B-VP *
more RBR B-ADJP *
comfortable JJ I-ADJP *
and CC O *
less RBR B-ADJP *
prone JJ I-ADJP *
to TO B-PP *
falling VBG B-VP (S*
out IN B-ADVP *S)
than IN B-PP *
hard JJ B-NP *
contact NN I-NP *
lenses NNS I-NP *
COMMA , O *
which WDT B-NP (S*
had VBD B-VP (S*
been VBN I-VP *
around IN B-PP *
since IN B-PP *
1939 CD B-NP *S)S)
. . O *S)

Bausch NNP B-NP (S*
& CC I-NP *
Lomb NNP I-NP *
sold VBD B-VP *
the DT B-NP *
softies NNS I-NP *
under IN B-PP *
a DT B-NP *
sublicense NN I-NP *
from IN B-PP *
National NNP B-NP *
Patent NNP I-NP *
Development NNP I-NP *
COMMA , O *
which WDT B-NP (S*
had VBD B-VP (S*
gained VBN I-VP *
the DT B-NP *
rights NNS I-NP *
from IN B-PP *
the DT B-NP *
Czechoslovakia NNP I-NP *
Academy NNP I-NP *
of IN B-PP *
Sciences NNPS B-NP *S)S)
. . O *S)

Otto NNP B-NP (S*
Wichterle NNP I-NP *
COMMA , O *
a DT B-NP *
Czech JJ I-NP *
COMMA , O *
invented VBD B-VP *
them PRP B-NP *
in IN B-PP *
1962 CD B-NP *
. . O *S)

The DT B-NP (S*
plastic NN I-NP *
lens NN I-NP *
wraps VBZ B-VP *
itself PRP B-NP *
over IN B-PP *
the DT B-NP *
cornea NN I-NP *
COMMA , O *
absorbing VBG O (S*
eye NN B-NP *
moisture NN I-NP *
while IN B-SBAR (S*
permitting VBG O (S*
oxygen NN O (S*
to TO B-VP *
pass VB I-VP *
through RB B-ADVP *S)S)S)S)
. . O *S)

But CC O (S*
the DT B-NP *
new JJ I-NP *
lens NN I-NP *
became VBD B-VP *
the DT B-NP *
eye NN I-NP *
of IN B-PP *
a DT B-NP *
storm NN I-NP *
. . O *S)

In IN B-PP (S*
September NNP B-NP *
1971 CD I-NP *
California NNP I-NP *
officials NNS I-NP *
seized VBN B-VP *
`` `` B-NP *
bootlegged VBN I-NP *
'' '' I-NP *
lenses NNS I-NP *
-- : O *
made VBN B-VP *
by IN B-PP *
unlicensed JJ B-NP *
companies NNS I-NP *
-- : O *
after IN B-PP (S*
some DT B-NP (S*
showed VBD B-VP *
traces NNS B-NP *
of IN B-PP *
bacteria NNS B-NP *S)S)
. . O *S)

In IN B-PP (S*
October NNP B-NP *
doctors NNS I-NP *
were VBD B-VP *
debating VBG I-VP *
the DT B-NP *
product NN I-NP *
's POS B-NP *
safety NN I-NP *
COMMA , O *
some DT B-NP (S*
claiming VBG B-VP *
it PRP B-NP (S(S*
caused VBD B-VP *
infections NNS B-NP *S)S)S)
. . O *S)

And CC O (S*
there EX B-NP *
were VBD B-VP *
Senate NNP B-NP *
hearings NNS I-NP *
on IN B-PP *
the DT B-NP *
questions NNS I-NP *
in IN B-PP *
July NNP B-NP *
1972 CD I-NP *
. . O *S)

The DT B-NP (S*
product NN I-NP *
overcame VBD B-VP *
the DT B-NP *
bad JJ I-NP *
publicity NN I-NP *
and CC O *
kept VBD O *
evolving VBG O *
. . O *S)

The DT B-NP (S*
early JJ I-NP *
soft JJ I-NP *
lenses NNS I-NP *
COMMA , O *
which WDT B-NP (S*
cost VBP B-VP (S*
$ $ B-NP *
300 CD I-NP *
a DT O *
set VBN O *S)S)
COMMA , O *
were VBD B-VP *
expected VBN I-VP *
to TO I-VP *
last VB I-VP *
for IN B-PP *
a DT B-NP *
year NN I-NP *
. . O *S)

In IN B-PP (S*
1983 CD B-NP *
`` `` O *
extended VBN O *
wear VB O *
'' '' O *
versions NNS O *
COMMA , O *
designed VBN B-VP *
to TO I-VP *
be VB I-VP *
worn VBN I-VP *
for IN B-PP *
30 CD B-NP *
days NNS I-NP *
at IN B-PP *
a DT B-NP *
time NN I-NP *
COMMA , O *
wree NN B-NP *
offered VBN B-VP *
. . O *S)

Eighteen CD B-NP (S(S*
months NNS I-NP *
ago RB B-ADVP *
a DT B-NP *
`` `` I-NP *
disposable JJ I-NP *
'' '' I-NP *
seven-day JJ I-NP *
model NN I-NP *
bowed VBD B-VP *S)
; : O *
a DT B-NP (S*
year NN I-NP *
's POS B-NP *
supply NN I-NP *
costs NNS I-NP *
about RB B-NP *
$ $ I-NP *
500 CD I-NP *S)
. . O *S)

Last JJ B-NP (S*
month NN I-NP *
the DT B-NP *
FDA NNP I-NP *
and CC I-NP *
Contact NNP I-NP *
Lens NNP I-NP *
Institute NNP I-NP *
cautioned VBD B-VP *
users NNS B-NP *
that IN B-NP (S*
serious JJ B-NP (S*
eye NN I-NP *
infections NNS I-NP *
could MD B-VP *
result VB I-VP *
from IN B-PP *
wearing VBG O (S*
lenses NNS B-NP *
more JJR B-NP *
than IN I-NP *
seven CD I-NP *
days NNS I-NP *
at IN B-PP *
a DT B-NP *
stretch NN I-NP *S)S)S)
. . O *S)

Today NN B-NP (S*
20 CD I-NP *
million CD I-NP *
of IN B-PP *
the DT B-NP *
25 CD I-NP *
million CD I-NP *
Americans NNPS I-NP *
using VBG B-VP *
contact NN B-NP *
lenses NNS I-NP *
are VBP B-VP *
using VBG I-VP *
the DT B-NP *
soft JJ I-NP *
type NN I-NP *
. . O *S)

Including VBG B-VP (S*
the DT B-NP *
accesory NN I-NP *
eye NN I-NP *
care NN I-NP *
products NNS I-NP *
COMMA , O *
contacts NNS B-NP *
account VBP B-VP *
for IN B-PP *
$ $ B-NP *
2 CD I-NP *
billion CD I-NP *
in IN B-PP *
annual JJ B-NP *
retail JJ I-NP *
sales NNS I-NP *
. . O *S)

Although IN B-SBAR (S(S*
Bausch NNP B-NP (S*
remains VBZ B-VP *
the DT B-NP *
leader NN I-NP *
among IN B-PP *
the DT B-NP *
six CD I-NP *
majors NNS I-NP *S)S)
COMMA , O *
Johnson NNP B-NP *
& CC I-NP *
Johnson NNP I-NP *
COMMA , O *
with IN B-PP *
its PRP$ B-NP *
new JJ I-NP *
disposables NNS I-NP *
COMMA , O *
is VBZ B-VP *
coming VBG I-VP *
on IN B-PP *
fast RB O *
. . O *S)

The DT B-NP (S*
roller-coaster NN I-NP *
stock NN I-NP *
market NN I-NP *
is VBZ B-VP *
making VBG I-VP *
life NN B-NP *
tougher JJR B-ADJP *
for IN B-PP *
small JJ B-NP *
companies NNS I-NP *
trying VBG B-VP *
to TO I-VP *
raise VB I-VP *
money NN B-NP *
. . O *S)

In IN B-PP (S(S*
the DT B-NP *
wake NN I-NP *
of IN B-PP *
Friday NNP B-NP *
's POS B-NP *
plunge NN I-NP *
and CC I-NP *
yesterday NN I-NP *
's POS B-NP *
rebound NN I-NP *
COMMA , O *
some DT B-NP *
companies NNS I-NP *
are VBP B-VP *
already RB I-VP *
postponing VBG I-VP *
deals NNS B-NP *S)
COMMA , O *
and CC O *
others NNS B-NP (S*
wish VBP B-VP *
they PRP B-NP (S(S*
could MD B-VP *S)S)S)
. . O *S)

As IN B-PP (S*
in IN B-PP *
other JJ B-NP *
jittery JJ I-NP *
times NNS I-NP *
COMMA , O *
many JJ B-NP *
small JJ I-NP *
businesses NNS I-NP *
expect VBP B-VP *
a DT B-NP *
particularly RB I-NP *
rough JJ I-NP *
time NN I-NP *
raising VBG B-VP (S*
funds NNS B-NP *S)
as IN B-SBAR (S*
investors NNS B-NP (S*
shun VBP B-VP *
risky JJ B-NP *
deals NNS I-NP *
COMMA , O *
seeking VBG B-VP (S*
safety NN B-NP *
in IN B-PP *
bigger JJR B-NP *
companies NNS I-NP *S)S)S)
. . O *S)

Even RB B-SBAR (S(S*
if IN I-SBAR *
stock NN B-NP (S*
prices NNS I-NP *
fully RB B-ADVP *
recover VBP B-VP *
from IN B-PP *
Friday NNP B-NP *
's POS B-NP *
sharp JJ I-NP *
decline NN I-NP *S)S)
COMMA , O *
the DT B-NP *
unsettled JJ I-NP *
conditions NNS I-NP *
will MD B-VP *
frighten VB I-VP *
many JJ B-NP *
investors NNS I-NP *
. . O *S)

`` `` O (S*
The DT B-NP (S*
implication NN I-NP *
of IN B-PP *
an DT B-NP *
unsettled JJ I-NP *
situation NN I-NP *
is VBZ B-VP *
that IN B-SBAR (S*
the DT B-NP (S*
thing NN I-NP *
could MD B-VP *
drop VB I-VP *
dramatically RB B-ADVP *S)S)S)
COMMA , O *
'' '' O *
says VBZ B-VP *
Henry NNP B-NP *
Linsert NNP I-NP *
Jr. NNP I-NP *
COMMA , O *
chairman NN B-NP *
of IN B-PP *
Martek NNP B-NP *
Corp. NNP I-NP *
COMMA , O *
a DT B-NP *
four-year-old JJ I-NP *
biotechnology NN I-NP *
company NN I-NP *
that WDT B-NP (S*
is VBZ B-VP (S*
planning VBG I-VP *
a DT B-NP *
private JJ I-NP *
placement NN I-NP *
of IN B-PP *
stock NN B-NP *S)S)
. . O *S)

`` `` O *
The DT B-NP *
more JJR I-NP *
variables NNS I-NP *
that WDT B-NP (S*
indicate VBP B-VP (S*
risk NN B-NP *S)S)
COMMA , O *
the DT O *
more JJR O *
the DT B-NP (S(S*
investor NN I-NP *
is VBZ B-VP *
going VBG I-VP *
to TO I-VP *
drive VB I-VP *
a DT B-NP *
hard JJ I-NP *
bargain NN I-NP *S)S)
. . O *
'' '' O *

Earlier RBR B-NP (S*
this DT I-NP *
month NN I-NP *
COMMA , O *
Staples NNP B-NP *
Inc. NNP I-NP *
COMMA , O *
a DT B-NP *
Newton NNP I-NP *
COMMA , I-NP *
Mass. NNP I-NP *
COMMA , I-NP *
office-supplies NNS I-NP *
discounter NN I-NP *
COMMA , O *
said VBD B-VP *
it PRP B-NP (S(S*
would MD B-VP *
accelerate VB I-VP *
expansion NN B-NP *
plans NNS I-NP *
nationwide JJ O *
and CC O *
offer NN B-NP *
more JJR B-NP *
of IN B-PP *
its PRP$ B-NP *
stock NN I-NP *
to TO B-PP *
the DT B-NP *
public NN I-NP *S)S)
. . O *S)

At IN B-PP (S(S*
the DT B-NP *
time NN I-NP *
COMMA , O *
its PRP$ B-NP *
shares NNS I-NP *
were VBD B-VP *
selling VBG I-VP *
above IN B-PP *
their PRP$ B-NP *
initial JJ I-NP *
offering NN I-NP *
price NN I-NP *
of IN B-PP *
$ $ B-NP *
19 CD I-NP *S)
COMMA , O *
and CC O *
bankers NNS B-NP (S*
believed VBD B-VP *
Staples NNP B-NP (S(S*
would MD B-VP *
sell VB I-VP *
new JJ B-NP *
stock NN I-NP *
without IN B-PP *
a DT B-NP *
hitch NN I-NP *S)S)S)
. . O *S)

But CC O (S(S*
with IN B-PP *
the DT B-NP (S*
company NN I-NP *
's POS B-NP *
shares NNS I-NP *
standing VBG B-VP *
at IN B-PP *
$ $ B-NP *
15 CD I-NP *
yesterday NN I-NP *S)
COMMA , O *
a DT B-NP *
new JJ I-NP *
offering NN I-NP *
seems VBZ B-VP *
unlikely JJ B-ADJP *S)
COMMA , O *
company NN B-NP *
officials NNS I-NP *
say VBP B-VP *
. . O *S)

Business NN B-NP (S(S(S*
COMMA , O *
however RB B-ADVP *
COMMA , O *
continues VBZ B-VP *
to TO I-VP *
be VB I-VP *
`` `` O *
robust JJ B-ADJP *S)
COMMA , O *
'' '' O *
and CC O *
the DT B-NP (S*
stock NN I-NP *
market NN I-NP *
has VBZ B-VP *
n't RB I-VP *
affected VBN I-VP *
the DT B-NP *
concern NN I-NP *
's POS B-NP *
expansion NN I-NP *
plans NNS I-NP *S)S)
COMMA , O *
says VBZ B-VP *
Todd NNP B-NP *
Krasnow NNP I-NP *
COMMA , O *
a DT B-NP *
senior JJ I-NP *
executive NN I-NP *
. . O *S)

Other JJ B-NP (S*
companies NNS I-NP *
figure VBP B-VP *
they PRP B-NP (S(S*
ca MD B-VP *
n't RB I-VP *
avoid VB I-VP *
the DT B-NP *
market NN I-NP *S)S)
. . O *S)

`` `` O (S*
We PRP B-NP (S*
have VBP B-VP *
capital NN B-NP *
requirements NNS I-NP *S)
COMMA , O *
'' '' O *
says VBZ B-VP (S*
Mr. NNP B-NP *
Linsert NNP I-NP *S)
COMMA , O *
`` `` O (S*
so IN B-SBAR *
we PRP B-NP *
have VBP B-VP *
to TO I-VP *
go VB I-VP *
ahead RB B-ADVP *
'' '' O *
with IN B-PP *
a DT B-NP *
planned VBN I-NP *
$ $ I-NP *
1.5 CD I-NP *
billion CD I-NP *
private JJ B-NP *
placement NN I-NP *S)
. . O *S)

Unless IN B-SBAR (S(S*
the DT B-NP (S*
market NN I-NP *
goes VBZ B-VP *
right RB B-ADVP *
back RB I-ADVP *
up IN B-ADVP *S)S)
COMMA , O *
he PRP B-NP (S*
says VBZ B-VP *S)
COMMA , O *
`` `` O *
it PRP B-NP *
may MD B-VP *
take VB I-VP *
us PRP B-NP *
six CD B-NP *
to TO O *
nine CD O *
months NNS O *
to TO B-VP (S*
find VB I-VP *
the DT B-NP *
money NN I-NP *S)
COMMA , O *
instead RB O *
of IN O *
three CD B-NP *
. . O *
'' '' O *S)

And CC O (S(S*
the DT B-NP *
Columbia NNP I-NP *
COMMA , I-NP *
Md. NNP I-NP *
COMMA , I-NP *
company NN I-NP *
may MD B-VP *
have VB I-VP *
to TO I-VP *
settle VB I-VP *
for IN B-PP *
a DT B-NP *
lower JJR I-NP *
price NN I-NP *S)
COMMA , O *
he PRP B-NP *
adds VBZ B-VP *
. . O *S)

Life NNP B-NP (S*
is VBZ B-VP *
particularly RB B-ADJP *
nerve-racking JJ I-ADJP *
for IN B-PP *
companies NNS B-NP *
that WDT B-NP (S*
had VBD B-VP (S*
planned VBN I-VP *
to TO I-VP *
go VB I-VP *
public JJ B-NP *
this DT I-NP *
week NN I-NP *S)S)
. . O *S)

Hand-holding NN B-NP (S*
is VBZ B-VP *
becoming VBG I-VP *
an DT B-NP *
investment-banking NN I-NP *
job NN I-NP *
requirement NN I-NP *
. . O *S)

Robertson NNP B-NP (S*
COMMA , I-NP *
Stephens NNP I-NP *
& CC I-NP *
Co. NNP I-NP *
COMMA , O *
a DT B-NP *
San NNP I-NP *
Francisco NNP I-NP *
investment NN I-NP *
banking NN I-NP *
concern NN I-NP *
COMMA , O *
has VBZ B-VP *
a DT B-NP *
client NN I-NP *
that WDT B-NP (S*
looked VBD B-VP (S*
forward RB B-ADVP *
to TO B-PP *
making VBG B-VP (S*
its PRP$ B-NP *
initial JJ I-NP *
public JJ I-NP *
offering NN I-NP *
yesterday NN B-NP *S)S)S)
. . O *S)

Officers NNS B-NP (S(S(S*
of IN B-PP *
the DT B-NP *
company NN I-NP *
COMMA , O *
a DT B-NP *
health-care NN I-NP *
concern NN I-NP *
COMMA , O *
`` `` O *
were VBD B-VP *
very RB I-VP *
discouraged VBN I-VP *
on IN B-PP *
Friday NNP B-NP *
and CC O *
felt VBD B-VP *
they PRP B-NP (S(S*
should MD B-VP *
n't RB I-VP *
go VB I-VP *
public JJ B-ADJP *S)S)S)
; : O *
we PRP B-NP (S*
felt VBD B-VP *
they PRP B-NP (S(S*
should MD B-VP *S)S)S)S)
COMMA , O *
'' '' O *
says VBZ B-VP *
Sanford NNP B-NP *
Robertson NNP I-NP *
COMMA , O *
partner NN B-NP *
in IN B-PP *
the DT B-NP *
banking NN I-NP *
concern NN I-NP *
. . O *S)

As IN B-SBAR (S(S*
the DT B-NP (S*
market NN I-NP *
dropped VBD B-VP *
Friday NNP B-NP *S)S)
COMMA , O *
Robertson NNP B-NP *
Stephens NNP I-NP *
slashed VBD B-VP *
the DT B-NP *
value NN I-NP *
of IN B-PP *
the DT B-NP *
offering NN I-NP *
by IN B-PP *
7 CD B-NP *
% NN I-NP *
. . O *S)

Yesterday NN B-NP (S*
COMMA , O *
when WRB B-ADVP (S*
similar JJ B-NP (S*
securities NNS I-NP *
rebounded VBD B-VP *S)S)
COMMA , O *
it PRP B-NP *
bumped VBD B-VP *
the DT B-NP *
valuation NN I-NP *
up IN B-PP *
again RB B-ADVP *
. . O *S)

As IN B-PP (S*
of IN B-PP *
late JJ B-NP *
yesterday NN I-NP *
COMMA , O *
the DT B-NP *
IPO NNP I-NP *
was VBD O *
still RB O *
on RB O *
. . O *S)

For IN B-PP (S*
many JJ B-NP *
COMMA , O *
the DT B-NP *
situation NN I-NP *
is VBZ B-VP *
especially RB I-VP *
discouraging VBG I-VP *
because IN B-SBAR (S*
the DT B-NP (S*
market NN I-NP *
for IN B-PP *
IPOs NNPS B-NP *
was VBD B-VP *
showing VBG I-VP *
signs NNS B-NP *
of IN B-PP *
strengthening VBG B-VP *
after IN B-PP *
several JJ B-NP *
years NNS I-NP *
of IN B-PP *
weakness NN B-NP *S)S)
. . O *S)

`` `` O (S*
We PRP B-NP (S*
were VBD B-VP *
just RB I-VP *
beginning VBG I-VP *
to TO I-VP *
look VB I-VP *
at IN B-PP *
the DT B-NP *
increase NN I-NP *
in IN B-PP *
IPOs NNPS B-NP *
COMMA , O *
seeing VBG B-VP (S*
the DT B-NP *
light NN I-NP *
at IN B-PP *
the DT B-NP *
end NN I-NP *
of IN B-PP *
the DT B-NP *
tunnel NN I-NP *S)S)
COMMA , O *
'' '' O *
says VBZ B-VP *
Frank NNP B-NP *
Kline NNP I-NP *
Jr. NNP I-NP *
COMMA , O *
partner NN B-NP *
in IN B-PP *
Lambda NNP B-NP *
Funds NNS I-NP *
COMMA , O *
a DT B-NP *
Beverly NNP I-NP *
Hills NNP I-NP *
COMMA , I-NP *
Calif. NNP I-NP *
COMMA , I-NP *
venture NN I-NP *
capital NN I-NP *
concern NN I-NP *
. . O *S)

`` `` O (S*
But CC O *
the DT B-NP *
tunnel NN I-NP *
's POS B-NP *
just RB O *
gotten VBN O *
longer RB B-ADVP *
. . O *
'' '' O *S)

Companies NNS B-NP (S(S*
planning NN I-NP *
to TO B-VP *
go VB I-VP *
public JJ B-ADJP *
`` `` O *
are VBP B-VP *
definitely RB I-VP *
taking VBG I-VP *
a DT B-NP *
second JJ I-NP *
look NN I-NP *S)
COMMA , O *
'' '' O *
says VBZ B-VP *
Allen NNP B-NP *
Hadhazy NNP I-NP *
COMMA , O *
senior JJ B-NP *
analyst NN I-NP *
at IN B-PP *
the DT B-NP *
Institute NNP I-NP *
for IN B-PP *
Econometric NNP B-NP *
Research NNP I-NP *
COMMA , O *
Fort NNP B-NP *
Lauderdale NNP I-NP *
COMMA , O *
Fla. NNP B-NP *
COMMA , O *
which WDT B-NP (S*
publishes VBZ B-VP (S*
the DT B-NP *
New NNP I-NP *
Issues NNS I-NP *
newsletter NN I-NP *
on IN B-PP *
IPOs NNPS B-NP *S)S)
. . O *S)

He PRP B-NP (S*
calculates VBZ B-VP *
that IN B-SBAR (S*
the DT B-NP (S*
recent JJ I-NP *
market NN I-NP *
slide NN I-NP *
translated VBN B-VP *
into IN B-PP *
a DT B-NP *
5 NN I-NP *
% NN I-NP *
to TO I-NP *
7 CD I-NP *
% NN I-NP *
reduction NN I-NP *
in IN B-PP *
IPO NNP B-NP *
proceeds NNS I-NP *
to TO B-PP *
companies NNS B-NP *S)S)
. . O *S)

Many JJ B-NP (S*
companies NNS I-NP *
are VBP B-VP *
hesitating VBG I-VP *
. . O *S)

Exabyte NNP B-NP (S*
Corp. NNP I-NP *
had VBD B-VP *
been VBN I-VP *
planning NN B-NP *
to TO B-VP *
sell VB I-VP *
10 CD B-NP *
% NN I-NP *
of IN B-PP *
its PRP$ B-NP *
stock NN I-NP *
this DT B-NP *
week NN I-NP *
in IN B-PP *
an DT B-NP *
IPO NNP I-NP *
that WDT B-NP (S*
would MD B-VP (S*
raise VB I-VP *
up IN B-NP *
to TO I-NP *
$ $ I-NP *
28.5 CD I-NP *
million CD I-NP *S)S)
. . O *S)

But CC O (S*
now RB B-ADVP *
COMMA , O *
Peter NNP B-NP *
Behrendt NNP I-NP *
COMMA , O *
president NN B-NP *
COMMA , O *
says VBZ B-VP *
COMMA , O *
`` `` O *
We PRP B-NP (S*
're VBP B-VP *
making VBG I-VP *
decisions NNS O *
on IN B-PP *
a DT B-NP *
day-to-day JJ I-NP *
basis NN I-NP *S)
. . O *
'' '' O *S)

Debt-free JJ O (S(S(S*
and CC O *
profitable JJ O *S)
COMMA , O *
the DT B-NP *
Boulder NNP I-NP *
COMMA , I-NP *
Colo. NNP I-NP *
COMMA , O *
computer-products NNS B-NP *
concern VBP O *
could MD B-VP *
borrow VB I-VP *
funds NNS B-NP *
if IN B-SBAR (S*
it PRP B-NP (S*
decides VBZ B-VP *
against IN B-PP *
an DT B-NP *
IPO NNP I-NP *
now RB B-ADVP *S)S)S)
COMMA , O *
he PRP B-NP *
says VBZ B-VP *
. . O *S)

KnowledgeWare NNP B-NP (S*
Inc. NNP I-NP *
COMMA , O *
an DT B-NP *
Atlanta NNP I-NP *
computer-software NN I-NP *
concern NN I-NP *
COMMA , O *
says VBZ B-VP *
it PRP B-NP (S(S*
is VBZ B-VP *
still JJ B-NP *
planning NN I-NP *
to TO B-VP *
go VB I-VP *
ahead RB B-ADVP *
with IN B-PP *
its PRP$ B-NP *
IPO NNP I-NP *
this DT B-NP *
week NN I-NP *
or CC O *
next JJ B-NP *
-- : O *
unless IN B-NP (S*
conditions NNS B-NP (S*
change VBP B-VP *S)S)S)S)
. . O *S)

`` `` O (S*
It PRP B-NP (S*
's VBZ B-VP *
a DT B-NP *
wait-and-see JJ I-NP *
situation NN I-NP *
right RB B-ADVP *
now RB I-ADVP *S)
COMMA , O *
'' '' O *
says VBZ B-VP *
Terry NNP B-NP *
McGowan NNP I-NP *
COMMA , I-NP *
president NN I-NP *
. . O *S)

Delayed JJ B-NP (S*
financings NNS I-NP *
also RB B-ADVP *
would MD B-VP *
affect VB I-VP *
the DT B-NP *
operations NNS I-NP *
of IN B-PP *
many JJ B-NP *
companies NNS I-NP *
. . O *S)

Sierra NNP B-NP (S*
Tucson NNP I-NP *
Cos. NNP I-NP *
COMMA , O *
a DT B-NP *
Tucson NNP I-NP *
COMMA , I-NP *
Ariz. NNP I-NP *
COMMA , I-NP *
operator NN I-NP *
of IN B-PP *
addiction-treatment JJ B-NP *
centers NNS I-NP *
COMMA , O *
has VBZ B-VP *
a DT B-NP *
planned VBN I-NP *
doubling VBG I-NP *
of IN B-PP *
capacity NN B-NP *
riding VBG B-VP *
on IN B-PP *
an DT B-NP *
IPO NNP I-NP *
scheduled VBD B-VP *
for IN B-PP *
next JJ B-NP *
week NN I-NP *
. . O *S)

William NNP B-NP (S*
O'Donnell NNP I-NP *
COMMA , O *
president NN B-NP *
COMMA , O *
says VBZ B-VP *
he PRP B-NP (S(S*
still RB B-ADVP *
thinks VBZ B-VP *
the DT B-NP (S(S*
IPO NNP I-NP *
will MD B-VP *
succeed VB I-VP *S)S)S)S)
. . O *S)

If IN B-SBAR (S(S*
it PRP B-NP (S*
does VBZ B-VP *
n't RB B-ADVP *S)S)
COMMA , O *
he PRP B-NP (S*
says VBZ B-VP *S)
COMMA , O *
the DT B-NP *
company NN I-NP *
would MD B-VP *
have VB I-VP *
to TO I-VP *
change VB I-VP *
its PRP$ B-NP *
expansion NN I-NP *
timetable NN I-NP *
. . O *S)

But CC O (S*
the DT B-NP *
market NN I-NP *
turmoil NN I-NP *
could MD B-VP *
be VB I-VP *
partially RB B-ADJP *
beneficial JJ I-ADJP *
for IN B-PP *
some DT B-NP *
small JJ I-NP *
businesses NNS I-NP *
. . O *S)

In IN B-PP (S(S(S*
a DT B-NP *
sagging VBG I-NP *
market NN I-NP *
COMMA , O *
the DT B-NP *
Federal NNP I-NP *
Reserve NNP I-NP *
System NNP I-NP *
`` `` O *
might MD B-VP *
flood VB I-VP *
the DT B-NP *
market NN I-NP *
with IN B-PP *
funds NNS B-NP *S)
COMMA , O *
and CC O *
that DT B-NP (S*
should MD B-VP *
bring VB I-VP *
interest NN B-NP *
rates NNS I-NP *
down RB B-ADVP *S)S)
COMMA , O *
'' '' O *
says VBZ B-VP *
Leonard NNP B-NP *
T. NNP I-NP *
Anctil NNP I-NP *
COMMA , O *
vice NN B-NP *
president NN I-NP *
of IN B-PP *
the DT B-NP *
Bank NNP I-NP *
of IN B-PP *
New NNP B-NP *
England NNP I-NP *
COMMA , O *
Boston NNP B-NP *
. . O *S)

James NNP B-NP (S*
G. NNP I-NP *
Zafris NNP I-NP *
COMMA , O *
president NN B-NP *
of IN B-PP *
Danvers NNP B-NP *
Savings NNP I-NP *
Bank NNP I-NP *
COMMA , O *
Danvers NNP B-NP *
COMMA , O *
Mass. NNP B-NP *
COMMA , O *
says VBZ B-VP *
the DT B-NP (S(S*
market NN I-NP *
turmoil NN I-NP *
`` `` O *
is VBZ B-VP *
an DT B-NP *
absolute JJ I-NP *
non-event NN I-NP *
for IN B-PP *
small JJ B-NP *
business NN I-NP *S)S)
. . O *
'' '' O *S)

For IN B-PP (S*
small JJ B-NP *
companies NNS I-NP *
COMMA , O *
he PRP B-NP (S*
says VBZ B-VP *S)
COMMA , O *
interest NN B-NP *
rates NNS I-NP *
are VBP B-VP *
far RB B-ADJP *
more RBR I-ADJP *
important JJ I-ADJP *
than IN O *
what WP B-NP (S*
happens VBZ B-VP *
on IN B-PP *
stock NN B-NP *
exchanges NNS I-NP *S)
. . O *S)

Mr. NNP B-NP (S*
Zafris NNP I-NP *
thinks VBZ B-VP *
rates NNS B-NP (S(S*
are VBP B-VP *
heading VBG I-VP *
down RB O *
COMMA , O *
helping VBG B-VP (S*
small JJ B-NP *
companies NNS I-NP *S)S)S)
. . O *S)

Peter NNP B-NP (S*
Drake NNP I-NP *
COMMA , O *
biotechnology NN B-NP *
analyst NN I-NP *
for IN B-PP *
Vector NNP B-NP *
Securities NNP I-NP *
International NNP I-NP *
COMMA , O *
Chicago NNP B-NP *
COMMA , O *
thinks VBZ B-VP *
market NN B-NP (S(S*
uncertainty NN I-NP *
may MD B-VP *
encourage VB I-VP *
small JJ B-NP (S*
companies NNS I-NP *
to TO B-VP *
form VB I-VP *
more RBR O *
strategic JJ O *
alliances NNS O *
with IN B-PP *
big JJ B-NP *
corporations NNS I-NP *S)S)S)
. . O *S)

Partly RB B-ADVP (S(S*
because IN B-SBAR *
the DT B-NP (S*
1987 CD I-NP *
market NN I-NP *
crash NN I-NP *
made VBD B-VP *
it PRP B-NP *
harder JJR B-ADJP *
for IN B-SBAR (S*
them PRP B-NP (S*
to TO B-VP *
find VB I-VP *
financing NN B-NP *S)S)S)S)
COMMA , O *
many JJ B-NP *
high-technology NN I-NP *
concerns NNS I-NP *
have VBP B-VP *
made VBN I-VP *
such JJ B-NP *
alliances NNS I-NP *
recently RB B-ADVP *
. . O *S)

Some DT O (S*
even RB O *
see VB O *
a DT B-NP *
silver NN I-NP *
lining VBG B-VP *
in IN B-PP *
the DT B-NP *
dark JJ I-NP *
clouds NNS I-NP *
. . O *S)

Alan NNP B-NP (S*
Wells NNP I-NP *
COMMA , O *
president NN B-NP *
of IN B-PP *
Bollinger NNP B-NP *
COMMA , I-NP *
Wells NNP I-NP *
COMMA , I-NP *
Lett NNP I-NP *
& CC I-NP *
Co. NNP I-NP *
COMMA , O *
a DT B-NP *
New NNP I-NP *
York NNP I-NP *
merger NN I-NP *
specialist NN I-NP *
COMMA , O *
thinks VBZ B-VP *
panicky JJ B-NP (S(S*
investors NNS I-NP *
may MD B-VP *
lose VB I-VP *
their PRP$ B-NP *
enthusiasm NN I-NP *
for IN B-PP *
leveraged JJ B-NP *
buy-out NN I-NP *
and CC O *
giant NN B-NP *
takeover NN I-NP *
deals NNS I-NP *S)S)
. . O *S)

Instead RB B-ADVP (S(S*
COMMA , O *
they PRP B-NP *
could MD B-VP *
turn VB I-VP *
to TO B-PP *
investing VBG B-VP (S*
in IN B-PP *
smaller JJR B-NP *
deals NNS I-NP *
involving VBG B-VP *
smaller JJR B-NP *
companies NNS I-NP *S)S)
COMMA , O *
he PRP B-NP *
says VBZ B-VP *
. . O *S)

And CC O (S*
William NNP B-NP *
E. NNP I-NP *
Wetzel NNP I-NP *
Jr. NNP I-NP *
COMMA , O *
a DT O *
University NNP O *
of IN B-PP *
New NNP B-NP *
Hampshire NNP I-NP *
management NN I-NP *
professor NN I-NP *
and CC O *
director NN B-NP *
of IN B-PP *
Venture NNP B-NP *
Capital NNP I-NP *
Network NNP I-NP *
Inc. NNP I-NP *
COMMA , O *
says VBZ B-VP *
the DT B-NP (S(S*
market NN I-NP *
's POS B-NP *
gyrations NNS I-NP *
will MD B-VP *
underline VB I-VP *
the DT B-NP *
investors NNS I-NP *
' POS B-NP *
lack NN I-NP *
of IN B-PP *
control NN B-NP *
in IN B-PP *
big JJ B-NP *
stock NN I-NP *
investments NNS I-NP *S)S)
. . O *S)

This DT B-NP (S*
will MD B-VP *
add VB I-VP *
to TO B-PP *
the DT B-NP *
appeal NN I-NP *
of IN B-PP *
small JJ B-NP *
business NN I-NP *
COMMA , O *
he PRP B-NP (S*
says VBZ B-VP *S)
COMMA , O *
where WRB B-ADVP (S*
investors NNS B-NP (S*
often RB B-ADVP *
have VBP B-VP *
a DT B-NP *
degree NN I-NP *
of IN B-PP *
influence NN B-NP *S)S)
. . O *S)

Bay NNP B-NP (S*
Financial NNP I-NP *
Corp. NNP I-NP *
COMMA , O *
hurt VBN B-VP *
by IN B-PP *
high JJ B-NP *
debts NNS I-NP *
and CC O *
deteriorating VBG B-VP *
real JJ O *
estate NN O *
investments NNS O *
COMMA , O *
reported VBD B-VP *
a DT B-NP *
wider JJR I-NP *
loss NN I-NP *
for IN B-PP *
the DT B-NP *
fourth JJ I-NP *
quarter NN I-NP *
and CC O *
said VBD B-VP *
it PRP B-NP (S(S*
might MD B-VP *
be VB I-VP *
forced VBN I-VP *
to TO I-VP *
seek VB I-VP *
a DT B-NP *
bankruptcy-court NN I-NP *
reorganization NN I-NP *
if IN B-SBAR (S*
it PRP B-NP (S*
ca MD B-VP *
n't RB I-VP *
renegotiate VB I-VP *
its PRP$ B-NP *
borrowings NNS I-NP *S)S)S)S)
. . O *S)

Bay NNP B-NP (S*
said VBD B-VP *
a DT B-NP (S(S*
`` `` I-NP *
substantial JJ I-NP *
part NN I-NP *
'' '' O *
of IN B-PP *
its PRP$ B-NP *
debt NN I-NP *
outstanding JJ B-ADJP *
is VBZ B-VP *
in IN B-PP *
default NN B-NP *
as IN B-PP *
a DT B-NP *
result NN I-NP *
of IN B-PP *
inability NN B-NP *
to TO B-VP (S*
sell VB I-VP *
certain JJ B-NP *
properties NNS I-NP *
quickly RB B-ADVP *S)
and CC O *
lower-than-expected JJ B-NP *
prices NNS I-NP *
for IN B-PP *
sales NNS B-NP *
made VBN B-VP *S)S)
. . O *S)

The DT B-NP (S*
company NN I-NP *
said VBD B-VP *
its PRP$ B-NP (S(S*
real JJ I-NP *
estate NN I-NP *
portfolio NN I-NP *
is VBZ B-VP *
`` `` O *
highly RB B-ADJP *
leveraged JJ I-ADJP *
COMMA , O *
'' '' O *
while IN B-PP (S*
about IN O (S*
two-thirds NNS B-NP *
of IN B-PP *
its PRP$ B-NP *
investments NNS I-NP *
are VBP B-VP *
n't RB B-ADJP *
income-producing JJ I-ADJP *S)S)S)S)
. . O *S)

Thus RB B-ADVP (S*
it PRP B-NP *
is VBZ B-VP *
coming VBG I-VP *
up IN B-PRT *
short JJ O *
on IN B-PP *
a DT B-NP *
big JJ I-NP *
bet NN I-NP *
that IN B-SBAR (S*
quick JJ B-NP (S*
sales NNS I-NP *
at IN B-PP *
higher JJR B-NP *
prices NNS I-NP *
would MD B-VP *
enable VB I-VP *
it PRP B-NP (S*
to TO B-VP *
keep VB I-VP *
up IN B-PRT *
with IN B-PP *
mortgage NN B-NP *
and CC O *
other JJ B-NP *
debt NN I-NP *
payments NNS I-NP *S)S)S)
. . O *S)

According VBG B-PP (S*
to TO B-PP *
its PRP$ B-NP *
latest JJS I-NP *
annual JJ I-NP *
report NN I-NP *
COMMA , O *
about IN B-PP *
a DT B-NP *
quarter NN I-NP *
of IN B-PP *
the DT B-NP *
company NN I-NP *
's POS B-NP *
holdings NNS I-NP *
are VBP B-VP *
in IN B-PP *
Massachusetts NNP B-NP *
COMMA , O *
in IN B-PP *
the DT B-NP *
midst NN I-NP *
of IN B-PP *
a DT B-NP *
real-estate NN I-NP *
slump NN I-NP *
. . O *S)

The DT B-NP (S*
company NN I-NP *
said VBD B-VP *
it PRP B-NP (S(S*
had VBD B-VP *
a DT B-NP *
net JJ I-NP *
loss NN I-NP *
in IN B-PP *
its PRP$ B-NP *
fourth JJ I-NP *
quarter NN I-NP *
ended VBN B-VP *
June NNP B-NP *
30 CD I-NP *
of IN B-PP *
$ $ B-NP *
36.2 CD I-NP *
million CD I-NP *
COMMA , O *
or CC O *
$ $ B-NP *
9.33 CD I-NP *
a DT B-NP *
share NN I-NP *
COMMA , O *
on IN B-PP *
revenue NN B-NP *
of IN B-PP *
$ $ B-NP *
13.1 CD I-NP *
million CD I-NP *S)S)
. . O *S)

A DT B-NP (S*
year NN I-NP *
earlier RBR B-ADVP *
COMMA , O *
the DT B-NP *
company NN I-NP *
had VBD B-VP *
a DT B-NP *
loss NN I-NP *
of IN B-PP *
$ $ B-NP *
10.8 CD I-NP *
million CD I-NP *
COMMA , O *
or CC O *
$ $ B-NP *
3.04 CD I-NP *
a DT B-NP *
share NN I-NP *
COMMA , O *
on IN B-PP *
revenue NN B-NP *
of IN B-PP *
$ $ B-NP *
10.8 CD I-NP *
million CD I-NP *
. . O *S)

For IN B-PP (S*
the DT B-NP *
year NN I-NP *
COMMA , O *
it PRP B-NP *
had VBD B-VP *
a DT B-NP *
net JJ I-NP *
loss NN I-NP *
of IN B-PP *
$ $ B-NP *
62 CD I-NP *
million CD I-NP *
COMMA , O *
or CC O *
$ $ B-NP *
15.97 CD I-NP *
a DT B-NP *
share NN I-NP *
COMMA , O *
on IN B-PP *
revenue NN B-NP *
of IN B-PP *
$ $ B-NP *
44.3 CD I-NP *
million CD I-NP *
. . O *S)

In IN B-PP (S*
the DT B-NP *
previous JJ I-NP *
year NN I-NP *
COMMA , O *
it PRP B-NP *
had VBD B-VP *
a DT B-NP *
loss NN I-NP *
of IN B-PP *
$ $ B-NP *
22.5 CD I-NP *
million CD I-NP *
COMMA , O *
or CC O *
$ $ B-NP *
6.52 CD I-NP *
a DT B-NP *
share NN I-NP *
COMMA , O *
on IN B-PP *
revenue NN B-NP *
of IN B-PP *
$ $ B-NP *
41.1 CD I-NP *
million CD I-NP *
. . O *S)

Although IN B-SBAR (S(S*
it PRP B-NP (S*
is VBZ B-VP *
having VBG I-VP *
serious JJ B-NP *
cash-flow JJ I-NP *
problems NNS I-NP *S)S)
COMMA , O *
Bay NNP B-NP *
said VBD B-VP *
the DT B-NP (S(S*
fair-market JJ I-NP *
value NN I-NP *
of IN B-PP *
its PRP$ B-NP *
holdings NNS I-NP *
COMMA , O *
minus CC O *
debt NN B-NP *
COMMA , O *
was VBD B-VP *
equal JJ B-ADJP *
to TO B-PP *
$ $ B-NP *
6.02 CD I-NP *
a DT B-NP *
share NN I-NP *
at IN B-PP *
June NNP B-NP *
30 CD I-NP *
based VBN O *
on IN B-PP *
a DT B-NP *
recent JJ I-NP *
appraisal NN I-NP *S)S)
. . O *S)

Book NN B-NP (S*
value NN I-NP *
per IN B-PP *
share NN B-NP *
COMMA , O *
which WDT B-NP (S*
is VBZ B-VP (S*
based VBN I-VP *
on IN B-PP *
investments NNS B-NP *
at IN B-PP *
cost NN B-NP *S)S)
COMMA , O *
was VBD B-VP *
a DT B-NP *
negative JJ I-NP *
$ $ I-NP *
6.69 CD I-NP *
a DT B-NP *
share NN I-NP *
. . O *S)

A DT B-NP (S*
year NN I-NP *
earlier RBR B-ADVP *
COMMA , O *
fair-market JJ B-NP (S*
value NN I-NP *
per IN B-PP *
share NN B-NP *
was VBD B-VP *
$ $ B-NP *
26.02 CD I-NP *S)
and CC O *
book NN O (S*
value NN O *
was VBD B-VP *
$ $ B-NP *
9.43 CD I-NP *
a DT B-NP *
share NN I-NP *S)
. . O *S)

Annualized VBN O *
interest NN B-NP *
rates NNS I-NP *
on IN B-PP *
certain JJ B-NP *
investments NNS I-NP *
as IN B-SBAR (S*
reported VBN B-VP (S*
by IN B-PP *
the DT B-NP *
Federal NNP I-NP *
Reserve NNP I-NP *
Board NNP I-NP *
on IN B-PP *
a DT B-NP *
weekly-average JJ I-NP *
basis NN I-NP *S)S)
: : O *
1989 CD B-NP *
and CC O *
Wednesday NNP B-NP *
October NNP B-NP *
4 CD I-NP *
COMMA , I-NP *
1989 CD I-NP *
. . O *

c-Yields NNS B-NP *
COMMA , O *
adjusted VBN B-VP *
for IN B-PP *
constant JJ B-NP *
maturity NN I-NP *
. . O *

TRW NNP B-NP (S(S*
Inc. NNP I-NP *
reported VBD B-VP *
a DT B-NP *
12 CD I-NP *
% NN I-NP *
decline NN I-NP *
in IN B-PP *
third-quarter JJ B-NP *
net JJ I-NP *
income NN I-NP *S)
COMMA , O *
but CC O *
the DT B-NP (S*
company NN I-NP *
said VBD B-VP *
that IN B-SBAR (S*
excluding VBG B-VP (S(S*
unusual JJ B-NP *
gains NNS I-NP *
in IN B-PP *
both DT B-NP *
quarters NNS I-NP *S)
COMMA , O *
operating VBG B-NP *
profit NN I-NP *
rose VBD B-VP *
16 CD B-NP *
% NN I-NP *S)S)S)
. . O *S)

The DT B-NP (S*
electronics NNS I-NP *
COMMA , O *
automotive JJ B-NP *
and CC I-NP *
aerospace NN I-NP *
concern NN I-NP *
said VBD B-VP *
third-quarter JJ B-NP (S(S*
net NN I-NP *
was VBD B-VP *
$ $ B-NP *
60 CD I-NP *
million CD I-NP *
COMMA , O *
or CC O *
98 CD B-NP *
cents NNS I-NP *
a DT B-NP *
share NN I-NP *
COMMA , O *
down RB B-ADVP *
from IN B-PP *
$ $ B-NP *
68 CD I-NP *
million CD I-NP *
COMMA , O *
or CC O *
$ $ B-NP *
1.11 CD I-NP *
a DT B-NP *
share NN I-NP *
COMMA , O *
a DT B-NP *
year NN I-NP *
earlier RBR B-ADVP *S)S)
. . O *S)

Share NN B-NP (S*
earnings NNS I-NP *
are VBP B-VP *
reported VBN I-VP *
on IN B-PP *
a DT B-NP *
fully RB I-NP *
diluted VBN I-NP *
basis NN I-NP *
COMMA , O *
by IN B-PP *
company NN B-NP *
tradition NN I-NP *
. . O *S)

Results NNS B-NP (S*
for IN B-PP *
the DT B-NP *
1988 CD I-NP *
quarter NN I-NP *
included VBD B-VP *
a DT B-NP *
gain NN I-NP *
of IN B-PP *
$ $ B-NP *
1.05 CD I-NP *
a DT B-NP *
share NN I-NP *
from IN B-PP *
sale NN B-NP *
of IN B-PP *
the DT B-NP *
Reda NNP I-NP *
Pump NNP I-NP *
and CC I-NP *
Oilwell NNP I-NP *
Cable NNP I-NP *
units NNS I-NP *
COMMA , O *
partly RB O *
offset VB O *
by IN B-PP *
a DT B-NP *
charge NN I-NP *
of IN B-PP *
69 CD B-NP *
cents NNS I-NP *
a DT B-NP *
share NN I-NP *
for IN B-PP *
recall NN B-NP *
of IN B-PP *
faulty JJ B-NP *
truck NN I-NP *
steering NN I-NP *
systems NNS I-NP *
. . O *S)

The DT B-NP (S*
latest JJS I-NP *
quarter NN I-NP *
included VBD B-VP *
a DT B-NP *
gain NN I-NP *
of IN B-PP *
11 CD B-NP *
cents NNS I-NP *
a DT B-NP *
share NN I-NP *
as IN B-PP *
a DT B-NP *
partial JJ I-NP *
reversal NN I-NP *
of IN B-PP *
the DT B-NP *
recall NN I-NP *
charge NN I-NP *
COMMA , O *
because IN B-SBAR (S*
the DT B-NP (S*
reserve NN I-NP *
established VBD B-VP *
last JJ B-NP *
year NN I-NP *
exceeded VBD B-VP *
the DT B-NP *
actual JJ I-NP *
recall NN I-NP *
costs NNS I-NP *S)S)
. . O *S)

Sales NNS B-NP (S*
for IN B-PP *
the DT B-NP *
quarter NN I-NP *
rose VBD B-VP *
8.3 CD B-NP *
% NN I-NP *
to TO B-PP *
$ $ B-NP *
1.79 CD I-NP *
billion CD I-NP *
COMMA , O *
from IN B-PP *
$ $ B-NP *
1.65 CD I-NP *
billion CD I-NP *
COMMA , O *
with IN B-PP *
all DT B-NP (S*
three CD I-NP *
major JJ I-NP *
product NN I-NP *
groups NNS I-NP *
reporting VBG B-VP *
gains NNS B-NP *S)
. . O *S)

The DT B-NP (S*
company NN I-NP *
said VBD B-VP *
aerospace NN B-NP (S(S(S*
and CC I-NP *
defense NN I-NP *
sales NNS I-NP *
were VBD B-VP *
up IN B-ADVP *
2 CD B-NP *
% NN I-NP *
for IN B-PP *
the DT B-NP *
quarter NN I-NP *
to TO B-PP *
$ $ B-NP *
802 CD I-NP *
million CD I-NP *S)
COMMA , O *
and CC O *
operating VBG B-NP (S*
profit NN I-NP *
climbed VBD B-VP *
6 CD B-NP *
% NN I-NP *
to TO B-PP *
$ $ B-NP *
61 CD I-NP *
million CD I-NP *S)
COMMA , O *
mainly RB B-ADVP *
because IN B-PP *
of IN I-PP *
improved VBN B-NP *
program NN I-NP *
performance NN I-NP *
in IN B-PP *
spacecraft NN B-NP *
and CC O *
advanced-technology JJ B-NP *
contracts NNS I-NP *S)S)
. . O *S)

Automotive JJ B-NP (S(S*
sales NNS I-NP *
jumped VBD B-VP *
16 CD B-NP *
% NN I-NP *
to TO B-PP *
$ $ B-NP *
791 CD I-NP *
million CD I-NP *
COMMA , O *
mainly RB B-ADVP *
because IN B-PP *
of IN I-PP *
higher JJR B-NP *
sales NNS I-NP *
of IN B-PP *
air NN B-NP *
bags NNS I-NP *
and CC O *
other JJ B-NP *
passenger NN I-NP *
restraint NN I-NP *
systems NNS I-NP *S)
COMMA , O *
TRW NNP B-NP *
said VBD B-VP *
. . O *S)

The DT B-NP (S*
group NN I-NP *
had VBD B-VP *
an DT B-NP *
operating VBG I-NP *
profit NN I-NP *
of IN B-PP *
$ $ B-NP *
65 CD I-NP *
million CD I-NP *
COMMA , O *
against IN B-PP *
a DT B-NP *
loss NN I-NP *
of IN B-PP *
$ $ B-NP *
13 CD I-NP *
million CD I-NP *
a DT B-NP *
year NN I-NP *
earlier RBR B-ADVP *
. . O *S)

However RB B-ADVP (S*
COMMA , O *
excluding VBG B-PP (S*
the DT B-NP *
year-earlier JJ I-NP *
charge NN I-NP *
for IN B-PP *
recall NN B-NP *
of IN B-PP *
steering NN B-NP *
gear NN I-NP *S)
COMMA , O *
operating VBG B-NP *
profit NN I-NP *
in IN B-PP *
the DT B-NP *
latest JJS I-NP *
quarter NN I-NP *
declined VBD B-VP *
14 CD B-NP *
% NN I-NP *
COMMA , O *
reflecting VBG B-VP (S*
higher JJR B-NP *
start-up NN I-NP *
and CC O *
product NN B-NP *
development NN I-NP *
expenses NNS I-NP *
in IN B-PP *
passenger-restraint NN B-NP *
systems NNS I-NP *S)
. . O *S)

Materials NNS B-NP (S(S*
and CC I-NP *
production NN I-NP *
costs NNS I-NP *
also RB B-ADVP *
rose VBD B-VP *S)
COMMA , O *
TRW NNP B-NP *
said VBD B-VP *
. . O *S)

The DT B-NP (S*
information NN I-NP *
systems NNS I-NP *
segment VBP I-NP *
had VBD B-VP *
a DT B-NP *
44 CD I-NP *
% NN I-NP *
jump NN I-NP *
sales NNS B-NP *
to TO B-PP *
$ $ B-NP *
196 CD I-NP *
million CD I-NP *
. . O *S)

An DT B-NP (S(S*
acquisition NN I-NP *
accounted VBD B-VP *
for IN O *
half PDT O *
the DT O *
sales NNS O *
rise NN O *S)
COMMA , O *
TRW NNP B-NP *
said VBD B-VP *
. . O *S)

Operating NN B-NP (S*
profit NN I-NP *
rose VBD B-VP *
threefold JJ B-ADJP *
to TO B-PP *
$ $ B-NP *
18 CD I-NP *
million CD I-NP *
COMMA , O *
from IN B-PP *
$ $ B-NP *
6 CD I-NP *
million CD I-NP *
. . O *S)

For IN B-PP (S*
the DT B-NP *
nine CD I-NP *
months NNS I-NP *
COMMA , O *
TRW NNP B-NP *
's POS B-NP *
net NN I-NP *
was VBD B-VP *
$ $ B-NP *
199 CD I-NP *
million CD I-NP *
COMMA , O *
or CC O *
$ $ B-NP *
3.22 CD I-NP *
a DT B-NP *
share NN I-NP *
COMMA , O *
down RB B-ADVP *
3 CD B-NP *
% NN I-NP *
from IN B-PP *
$ $ B-NP *
205 CD I-NP *
million CD I-NP *
COMMA , O *
or CC O *
$ $ B-NP *
3.33 CD I-NP *
a DT B-NP *
share NN I-NP *
COMMA , O *
a DT B-NP *
year NN I-NP *
earlier RBR B-ADVP *
. . O *S)

Sales NNS B-NP (S*
rose VBD B-VP *
2.9 CD B-NP *
% NN I-NP *
to TO B-PP *
$ $ B-NP *
5.42 CD I-NP *
billion CD I-NP *
COMMA , O *
from IN B-PP *
$ $ B-NP *
5.27 CD I-NP *
billion CD I-NP *
. . O *S)

a DT B-NP (S*
tragicomic JJ I-NP *
monologue NN I-NP *
by IN B-PP *
an DT B-NP *
idealistic JJ I-NP *
COMMA , I-NP *
not RB I-NP *
unheroic JJ B-ADJP *
COMMA , O *
though IN O *
sadly RB O *
self-deceived JJ O *
English NNP O *
butler NN O *
in IN B-PP *
his PRP$ B-NP *
sixties NNS I-NP *
-- : O *
proceeds NNS B-NP *
as IN B-PP (S*
if IN B-SBAR *
the DT B-NP (S*
realistic JJ I-NP *
English NNP I-NP *
novel NN I-NP *
of IN B-PP *
manners NNS B-NP *
COMMA , O *
like IN B-PP *
Britannia NNP B-NP *
herself PRP B-NP *
COMMA , O *
still RB O *
ruled VBD O *
the DT B-NP *
waves NNS I-NP *S)S)
. . O *S)

In IN B-PP (S*
fact NN B-NP *
COMMA , O *
Kazuo NNP B-NP *
Ishiguro NNP I-NP *
's POS B-NP *
`` `` O *
The DT B-NP *
Remains NNS I-NP *
of IN B-PP *
the DT B-NP *
Day NNP I-NP *
'' '' O *
( -LRB- O *
Knopf NNP B-NP *
COMMA , O *
245 CD B-NP *
pages NNS I-NP *
COMMA , O *
$ $ B-NP *
18.95 CD I-NP *
) -RRB- O *
is VBZ B-VP *
both DT B-NP *
an DT B-NP *
homage NN I-NP *
to TO B-PP *
traditional JJ B-NP *
English NNP I-NP *
forms NNS I-NP *
and CC O *
a DT B-NP *
dramatic JJ I-NP *
critique NN I-NP *
of IN B-PP *
them PRP B-NP *
. . O *S)

It PRP B-NP (S*
implies VBZ B-VP *
that IN B-SBAR (S*
the DT B-NP (S*
British NNP I-NP *
Empire NNP I-NP *
was VBD B-VP *
rooted VBN I-VP *
in IN B-PP *
its PRP$ B-NP *
subjects NNS I-NP *
' POS B-NP *
minds NNS I-NP *
COMMA , I-NP *
manners NNS I-NP *
and CC I-NP *
morals NNS I-NP *S)S)
COMMA , O *
and CC O *
argues VBZ B-VP *
COMMA , O *
tacitly RB B-ADVP *
COMMA , O *
that IN B-SBAR (S*
its PRP$ B-NP (S*
self-destructive JJ I-NP *
flaws NNS I-NP *
were VBD B-VP *
embodied VBN I-VP *
in IN B-PP *
the DT B-NP *
defensive JJ I-NP *
snobbery NN I-NP *
COMMA , O *
willful JJ B-NP *
blindness NN I-NP *
COMMA , O *
role-playing NN B-NP *
and CC O *
especially RB B-ADVP *
the DT B-NP *
locutions NNS I-NP *
of IN B-PP *
its PRP$ B-NP *
domestic JJ I-NP *
servants NNS I-NP *S)S)
. . O *S)

As IN B-SBAR (S(S*
the DT B-NP (S*
narrator NN I-NP *
Stevens NNP I-NP *
COMMA , O *
the DT B-NP *
solitary JJ I-NP *
butler NN I-NP *
of IN B-PP *
Darlington NNP B-NP *
Hall NNP I-NP *
COMMA , O *
mulls VBZ B-VP *
over IN B-PP *
such JJ B-NP *
hallowed JJ I-NP *
terms NNS I-NP *
as IN B-PP *
`` `` O *
greatness NN B-NP *
COMMA , O *
'' '' O *
`` `` O *
dignity NN B-NP *
COMMA , O *
'' '' O *
`` `` O *
service NN B-NP *
'' '' O *
and CC O *
`` `` O *
loyalty NN O *
COMMA , O *
'' '' O *S)S)
we PRP B-NP *
see VBP B-VP *
how WRB O (S*
pious JJ O (S*
cant NN O *
subverts VBZ B-VP *
the DT B-NP *
soul NN I-NP *S)S)
. . O *S)

Stevens NNP B-NP (S*
's POS B-NP *
dutiful JJ I-NP *
conflation NN I-NP *
of IN B-PP *
the DT B-NP *
public JJ I-NP *
and CC I-NP *
private JJ I-NP *
realms NNS I-NP *
-- : O *
like IN B-PP *
his PRP$ B-NP *
beloved JJ I-NP *
master NN I-NP *
's POS B-NP *
-- : O *
destroys VBZ B-VP *
all DT B-NP *
it PRP B-NP (S(S*
was VBD B-VP *
designed VBN I-VP *
to TO I-VP *
preserve VB I-VP *S)S)
. . O *S)

Such JJ B-NP (S*
armor NN I-NP *
crushes VBZ B-VP *
the DT B-NP *
soldier NN I-NP *
. . O *S)

The DT B-NP (S*
mask NN I-NP *
cuts NNS I-NP *
to TO B-PP *
the DT B-NP *
quick NN I-NP *
. . O *S)

It PRP B-NP (S*
's VBZ B-VP *
1956 CD B-NP *
COMMA , O *
the DT B-NP *
year NN I-NP *
the DT B-NP (S(S*
Suez NNP I-NP *
crisis NN I-NP *
marked VBD B-VP *
the DT B-NP *
final JJ I-NP *
end NN I-NP *
of IN B-PP *
Empire NNP B-NP *S)S)
. . O *S)

As IN B-SBAR (S(S*
he PRP B-NP (S*
stands VBZ B-VP *
on IN B-PP *
a DT B-NP *
hill NN I-NP *
at IN B-PP *
the DT B-NP *
beginning NN I-NP *
of IN B-PP *
a DT B-NP *
six-day JJ I-NP *
motor NN I-NP *
expedition NN I-NP *
from IN B-PP *
Oxfordshire NNP B-NP *
to TO B-PP *
Cornwall NNP B-NP *
COMMA , O *
where WRB B-ADVP (S*
a DT B-NP (S*
former JJ I-NP *
housekeeper NN I-NP *
resides VBZ B-VP *
COMMA , O *
perhaps RB B-ADVP *
the DT B-NP *
victim NN I-NP *
of IN B-PP *
an DT B-NP *
unhappy JJ I-NP *
20-year JJ I-NP *
marriage NN I-NP *
COMMA , O *
perhaps RB B-ADVP *
( -LRB- O *
he PRP B-NP (S*
hopes VBZ B-VP *
with IN B-PP *
more JJR B-NP *
fervor NN I-NP *
than IN B-SBAR (S*
he PRP B-NP (S*
will MD B-VP *
ever RB I-VP *
acknowledge VB I-VP *S)S)S)
) -RRB- B-VP *
not RB I-VP *
disinclined VBN I-VP *
to TO I-VP (S*
return VB I-VP *
to TO B-PP *
domestic JJ B-NP *
service NN I-NP *S)S)S)S)S)
COMMA , O *
Stevens NNP B-NP *
surveys VBZ B-VP *
the DT B-NP *
view NN I-NP *
and CC O *
thereby RB B-ADVP *
provides VBZ B-VP *
a DT B-NP *
self-portrait NN I-NP *
COMMA , O *
a DT B-NP *
credo NN I-NP *
and CC O *
the DT B-NP *
author NN I-NP *
's POS B-NP *
metaphor NN I-NP *
for IN B-PP *
the DT B-NP *
aesthetic NN I-NP *
of IN B-PP *
the DT B-NP *
novel NN I-NP *
we PRP B-NP (S(S*
're VBP B-VP *
reading VBG I-VP *S)S)
: : O *S)

`` `` O (S*
We PRP B-NP (S*
call VBP B-VP *
this DT B-NP *
land NN I-NP *
of IN B-PP *
ours PRP B-NP *
Great NNP I-NP *
Britain NNP I-NP *S)
COMMA , O *
and CC O *
there EX B-NP (S*
may MD B-VP *
be VB I-VP *
those DT B-NP *
who WP B-NP (S*
believe VBP B-VP (S*
this DT B-NP *
a DT B-NP *
somewhat RB I-NP *
immodest JJ I-NP *
practice NN I-NP *S)S)S)
. . O *S)

Yet RB O (S*
I PRP B-NP *
would MD B-VP *
venture VB I-VP *
that IN B-SBAR (S*
the DT B-NP (S*
landscape NN I-NP *
of IN B-PP *
our PRP$ B-NP *
country NN I-NP *
alone RB B-ADVP *
would MD B-VP *
justify VB I-VP *
the DT B-NP *
use NN I-NP *
of IN B-PP *
this DT B-NP *
lofty JJ I-NP *
adjective NN I-NP *S)S)
... : O *
. . O *S)

It PRP B-NP (S*
is VBZ B-VP *
the DT B-NP *
very JJ I-NP *
lack NN I-NP *
of IN B-PP *
obvious JJ B-NP *
drama NN I-NP *
or CC I-NP *
spectacle NN I-NP *
that IN B-NP (S*
sets VBZ B-VP (S*
the DT B-NP *
beauty NN I-NP *
of IN B-PP *
our PRP$ B-NP *
land NN I-NP *
apart RB B-ADVP *S)S)
. . O *S)

What WP B-NP (S(S*
is VBZ B-VP (S*
pertinent JJ B-ADJP *S)S)
is VBZ B-VP *
the DT B-NP *
calmness NN I-NP *
of IN B-PP *
that DT B-NP *
beauty NN I-NP *
COMMA , O *
its PRP$ B-NP *
sense NN I-NP *
of IN B-PP *
restraint NN B-NP *
. . O *S)

It PRP B-NP (S*
is VBZ B-VP *
as IN O (S*
though IN O *
the DT B-NP (S*
land NN I-NP *
knows VBZ B-VP *
of IN B-PP *
its PRP$ B-NP *
own JJ I-NP *
beauty NN I-NP *
COMMA , O *
of IN B-PP *
its PRP$ B-NP *
own JJ I-NP *
greatness NN I-NP *
COMMA , O *
and CC O *
feels VBZ B-VP *
no DT B-NP *
need NN I-NP *
to TO B-VP (S*
shout VB I-VP *
it PRP B-NP *S)S)S)
. . O *S)

In IN B-PP (S*
comparison NN B-NP *
COMMA , O *
the DT B-NP *
sorts NNS I-NP *
of IN B-PP *
sights NNS B-NP *
offered VBN B-VP *
in IN B-PP *
such JJ B-NP *
places NNS I-NP *
as IN B-PP *
Africa NNP B-NP *
and CC I-NP *
America NNP I-NP *
COMMA , O *
though IN B-SBAR *
undoubtedly RB B-ADVP *
very RB B-ADJP *
exciting JJ I-ADJP *
COMMA , O *
would MD B-VP *
COMMA , O *
I PRP B-NP (S*
am VBP B-VP *
sure JJ B-ADVP *S)
COMMA , O *
strike NN B-NP *
the DT B-NP *
objective NN I-NP *
viewer NN I-NP *
as IN B-PP *
inferior JJ B-ADJP *
on IN B-PP *
account NN B-NP *
of IN B-PP *
their PRP$ B-NP *
unseemly JJ I-NP *
demonstrativeness NN I-NP *
. . O *
'' '' O *S)

An DT B-NP *
effusive JJ I-NP *
landscape NN I-NP *
? . O *

An DT B-NP *
ill-mannered JJ I-NP *
mountain NN I-NP *
? . O *

But CC O (S(S*
let VB B-VP *
Stevens NNP B-NP (S*
continue VB B-VP *
in IN B-PP *
his PRP$ B-NP *
unwitting JJ I-NP *
comic JJ I-NP *
manner NN I-NP *S)S)
( -LRB- B-PP *
his PRP$ B-NP (S*
conscious JJ I-NP *
efforts NNS I-NP *
at IN B-PP *
`` `` O *
banter NN B-NP *
'' '' O *
always RB O *
fail VB O *
-- : O *
most RBS O *
comically RB O *S)
) -RRB- O *
: : O *
`` `` O (S*
This DT B-NP *
whole JJ I-NP *
question NN I-NP *
is VBZ B-VP *
very RB B-ADJP *
akin JJ I-ADJP *
to TO B-PP *
the DT B-NP *
question NN I-NP *
that WDT B-NP (S*
has VBZ B-VP (S*
caused VBN I-VP *
much JJ B-NP *
debate NN I-NP *
in IN B-PP *
our PRP$ B-NP *
profession NN I-NP *
over IN B-PP *
the DT B-NP *
years NNS I-NP *S)S)
: : O *
what WP B-NP (S*
is VBZ B-VP (S*
a DT B-NP *
` `` I-NP *
great JJ I-NP *
' '' I-NP *
butler NN I-NP *S)S)S)
? . O *
'' '' O *S)

His PRP$ B-NP (S*
answer NN I-NP *
is VBZ B-VP *
one CD B-NP *
`` `` O *
possessed VBN B-VP *
of IN B-PP *
a DT B-NP *
dignity NN I-NP *
in IN B-PP *
keeping VBG B-VP *
with IN B-PP *
his PRP$ B-NP *
position NN I-NP *
. . O *
'' '' O *S)

Such JJ B-NP (S*
dignity NN I-NP *
`` `` O *
has VBZ B-VP *
to TO I-VP (S*
do VB I-VP *
crucially RB B-ADVP *
with IN B-PP *
a DT B-NP *
butler NN I-NP *
's POS B-NP *
ability NN I-NP *
not RB O (S*
to TO B-VP *
abandon VB I-VP *
the DT B-NP *
professional JJ I-NP *
being NN I-NP *
he PRP B-NP (S(S*
inhabits VBZ B-VP *S)S)S)S)
. . O *
'' '' O *S)

He PRP B-NP (S*
`` `` O *
will MD B-VP *
not RB I-VP *
be VB I-VP *
shaken VBN I-VP *
out IN B-PRT *
by IN B-PP *
external JJ B-NP *
events NNS I-NP *
COMMA , O *
however RB B-ADJP *
surprising JJ I-ADJP *
COMMA , O *
alarming JJ O *
or CC O *
vexing JJ O *
... : O *
. . O *S)

Continentals NNS B-NP (S*
are VBP B-VP *
unable JJ B-ADJP *
to TO B-VP (S*
be VB I-VP *
butlers NNS B-NP *S)
because IN B-SBAR (S*
they PRP B-NP (S*
are VBP B-VP *
as IN B-PP *
a DT B-NP *
breed NN I-NP *
incapable NN I-NP *
of IN B-PP *
the DT B-NP *
emotional JJ I-NP *
restraint NN I-NP *
which WDT B-NP (S*
only RB B-NP (S*
the DT I-NP *
English NNP I-NP *
race NN I-NP *
are VBP B-VP *
capable JJ B-ADJP *
of IN B-PP *S)S)S)S)
. . O *
'' '' O *S)

Despite IN B-PP (S(S*
his PRP$ B-NP *
racial JJ I-NP *
advantage NN I-NP *
COMMA , O *
to TO B-VP (S*
be VB I-VP *
a DT B-NP *
great JJ I-NP *
butler NN I-NP *S)
is VBZ B-VP *
a DT B-NP *
heroic JJ I-NP *
calling NN I-NP *
; : O *S)
one CD B-NP (S*
's POS B-NP *
pantry NN I-NP *
is VBZ B-VP *
`` `` O *
not RB O *
unlike IN B-PP *
general NN B-NP *
's POS B-NP *
headquarters NN I-NP *
during IN B-PP *
a DT B-NP *
battle NN I-NP *S)
. . O *
'' '' O *S)

If IN B-SBAR (S(S*
COMMA , O *
for IN B-PP (S*
example NN B-NP *
COMMA , O *
in IN B-PP *
the DT B-NP *
midst NN I-NP *
of IN B-PP *
a DT B-NP *
great JJ I-NP *
social JJ I-NP *
occasion NN I-NP *
( -LRB- I-NP *
such JJ B-PP *
as IN I-PP *
an DT B-NP *
international JJ I-NP *
conference NN I-NP *
on IN B-PP *
revising VBG B-VP (S*
the DT B-NP *
Versailles NNP I-NP *
Treaty NNP I-NP *S)
in IN B-PP *
1923 CD B-NP *
) -RRB- O *
COMMA , O *
one CD B-NP *
's POS B-NP *
72-yearold JJ I-NP *
father NN I-NP *
COMMA , O *
himself PRP B-NP *
a DT B-NP *
great JJ I-NP *
butler NN I-NP *
once RB B-ADVP *
COMMA , O *
should MD B-VP *
happen VB I-VP *
to TO I-VP *
die VB I-VP *
of IN B-PP *
a DT B-NP *
stroke NN I-NP *S)S)
COMMA , O *
one PRP B-NP *
must MD B-VP *
continue VB I-VP *
to TO I-VP *
serve VB I-VP *
the DT B-NP *
port NN I-NP *
: : O *
`` `` O (S*
Please VB B-VP *
do VBP B-VP *
n't RB I-VP *
think VB I-VP *
me PRP B-NP *
unduly RB B-ADJP *
improper JJ I-ADJP *
in IN B-PP *
not RB O (S*
ascending VBG O *
to TO O *
see VB O *
my PRP$ B-NP *
father NN I-NP *
in IN B-PP *
his PRP$ B-NP *
deceased JJ I-NP *
condition NN I-NP *
just RB O *
at IN B-PP *
this DT B-NP *
moment NN I-NP *S)S)
. . O *S)

You PRP B-NP (S(S*
see VBP B-VP *S)
COMMA , O *
I PRP B-NP *
know VBP B-VP *
my PRP$ B-NP (S(S*
father NN I-NP *
would MD B-VP *
have VB I-VP *
wished VBN I-VP *
me PRP B-NP (S*
to TO B-VP *
carry VB I-VP *
on IN B-PP *
just RB O *
now RB O *S)S)S)
. . O *
'' '' O *S)

It PRP B-NP (S*
is VBZ B-VP *
this DT B-NP *
kind NN I-NP *
of IN B-PP *
dignity NN B-NP *
and CC I-NP *
restraint NN I-NP *
that WDT B-NP (S*
allows VBZ B-VP (S*
Stevens NNP B-NP (S*
to TO B-VP *
declare VB I-VP *
: : O *
`` `` O (S*
For IN B-PP *
all DT B-NP *
its PRP$ I-NP *
sad JJ I-NP *
associations NNS I-NP *
COMMA , O *
whenever WRB B-ADVP (S*
I PRP B-NP (S*
recall VBP B-VP *
that DT B-NP *
evening NN I-NP *
today NN I-NP *S)S)
COMMA , O *
I PRP B-NP *
find VBP B-VP *
I PRP B-NP (S(S*
do VBP B-VP *
so RB O *
with IN O *
a DT B-NP *
large JJ I-NP *
sense NN I-NP *
of IN B-PP *
triumph NN B-NP *S)S)S)S)S)S)
. . O *
'' '' O *S)

We PRP B-NP (S*
note VBP B-VP *
the DT B-NP *
imperial JJ I-NP *
public JJ I-NP *
word NN I-NP *
used VBN B-VP *
to TO I-VP (S*
deny VB I-VP *
private JJ B-NP *
rage NN I-NP *
and CC I-NP *
sorrow NN I-NP *S)
. . O *S)

That DT B-NP (S*
Stevens NNP I-NP (S*
himself PRP B-NP *
is VBZ B-VP *
not RB O *
grotesque JJ B-ADJP *
or CC I-ADJP *
repellent JJ I-ADJP *
COMMA , O *
but CC O *
funny JJ O *
and CC O *
sad JJ O *
and CC O *
enlightening VBG B-VP *
COMMA , O *S)
is VBZ B-VP *
entirely RB B-ADVP *
the DT B-NP *
author NN I-NP *
's POS B-NP *
triumph NN I-NP *
. . O *S)

Mr. NNP B-NP (S*
Ishiguro NNP I-NP *
's POS B-NP *
ability NN I-NP *
to TO B-VP (S*
create VB I-VP *
a DT B-NP *
fallible JJ I-NP *
narrative NN I-NP *
voice NN I-NP *
that WDT B-NP (S*
permits VBZ B-VP (S*
him PRP B-NP (S*
to TO B-VP *
explore VB I-VP *
such JJ B-NP *
intertwining VBG I-NP *
domestic JJ I-NP *
COMMA , I-NP *
cultural JJ I-NP *
and CC I-NP *
political JJ I-NP *
themes NNS I-NP *S)S)S)S)
was VBD B-VP *
abundantly RB O *
clear JJ O *
in IN B-PP *
his PRP$ B-NP *
previous JJ I-NP *
novel NN I-NP *
COMMA , O *
`` `` O *
An DT B-NP *
Artist NNP I-NP *
of IN B-PP *
the DT B-NP *
Floating VBG I-NP *
World NNP I-NP *
COMMA , O *
'' '' O *
set VBN B-VP *
in IN B-PP *
Japan NNP B-NP *
after IN B-PP *
the DT B-NP *
war NN I-NP *
. . O *S)

Now RB B-ADVP (S*
shifting VBG B-VP (S*
his PRP$ B-NP *
scene NN I-NP *
from IN B-PP *
the DT B-NP *
country NN I-NP *
he PRP B-NP (S(S*
left VBD B-VP *
at IN B-PP *
five CD B-NP *S)S)
to TO B-PP *
the DT B-NP *
England NNP I-NP *
he PRP B-NP (S(S*
has VBZ B-VP *
lived VBN I-VP *
in IN B-PP *
for IN B-PP *
nearly RB B-NP *
30 CD I-NP *
years NNS I-NP *S)S)S)
COMMA , O *
he PRP B-NP *
has VBZ B-VP *
fashioned VBN I-VP *
a DT B-NP *
novel NN I-NP *
in IN B-PP *
the DT B-NP *
mode NN I-NP *
of IN B-PP *
Henry NNP B-NP *
James NNP I-NP *
and CC O *
E.M. NNP B-NP *
Forster NNP I-NP *
. . O *S)

With IN B-PP (S*
great JJ B-NP *
aplomb NN I-NP *
he PRP B-NP *
considers VBZ B-VP *
not RB O *
only RB O *
filial JJ O *
devotion NN O *
and CC O *
( -LRB- B-VP *
utterly RB I-VP *
repressed VBN I-VP *
) -RRB- O *
sexual JJ O *
love NN O *
COMMA , O *
but CC O *
British JJ B-NP *
anti-Semitism NN I-NP *
COMMA , O *
the DT B-NP *
gentry NN I-NP *
's POS B-NP *
impatience NN I-NP *
with IN B-PP *
democracy NN B-NP *
and CC I-NP *
support NN I-NP *
of IN B-PP *
Hitler NNP B-NP *
COMMA , O *
and CC O *
the DT B-NP *
moral JJ I-NP *
problematics NNS I-NP *
of IN B-PP *
loyalty NN B-NP *
: : O *
`` `` O (S*
It PRP B-NP *
is VBZ B-VP *
COMMA , O *
in IN B-PP *
practice NN B-NP *
COMMA , O *
simply RB O *
not RB O *
possible JJ B-ADJP *
to TO B-VP (S*
adopt VB I-VP *
such JJ B-NP *
a DT I-NP *
critical JJ I-NP *
attitude NN I-NP *
towards IN B-PP *
an DT B-NP *
employer NN I-NP *
and CC O *
at IN B-PP *
the DT B-NP *
same JJ I-NP *
time NN I-NP *
provide VB B-VP *
good JJ B-NP *
service NN I-NP *S)S)
... : O *
. . O *S)

` `` O (S*
This DT B-NP *
employer NN I-NP *
embodies VBZ B-VP *
all DT B-NP *
that IN B-SBAR (S*
I PRP B-NP (S*
find VBP B-VP *
noble JJ B-ADJP *
and CC I-ADJP *
admirable JJ I-ADJP *S)S)
. . O *S)

I PRP B-NP (S*
will MD B-VP *
hereafter RB I-VP *
devote VB I-VP *
myself PRP B-NP *
to TO O *
serving VBG B-VP (S*
him PRP B-NP *S)
. . O *S)

' '' O (S*
This DT B-NP *
is VBZ B-VP *
loyalty NN B-NP *
intelligently RB B-ADVP *
bestowed VBD B-VP *
. . O *
'' '' O *S)

In IN B-PP (S*
the DT B-NP *
end NN I-NP *
COMMA , O *
after IN B-PP *
meeting NN B-NP (S*
with IN B-PP *
the DT B-NP *
former JJ I-NP *
housekeeper NN I-NP *S)
COMMA , O *
Stevens NNP B-NP *
sits VBZ B-VP *
by IN B-PP *
the DT B-NP *
seashore NN I-NP *
at IN B-PP *
dusk NN B-NP *
COMMA , O *
thinking VBG B-VP (S*
of IN B-PP *
her PRP$ B-NP *
and CC B-PP *
of IN B-PP *
his PRP$ B-NP *
employer NN I-NP *S)
COMMA , O *
and CC O *
declares VBZ B-VP *
`` `` O (S*
I PRP B-NP *
trusted VBD B-VP *S)
. . O *S)

I PRP B-NP (S*
trusted VBD B-VP *
in IN B-PP *
his PRP$ B-NP *
lordship NN I-NP *
's POS B-NP *
wisdom NN I-NP *
... : O *
. . O *S)

I PRP B-NP (S*
ca MD B-VP *
n't RB I-VP *
even RB I-VP *
say VB I-VP *
I PRP B-NP (S(S*
made VBD B-VP *
my PRP$ B-NP *
own JJ I-NP *
mistakes NNS I-NP *S)S)
. . O *S)

Really RB B-ADVP (S*
-- : O *
one CD B-NP *
has VBZ B-VP *
to TO I-VP *
ask VB I-VP *
oneself PRP B-NP *
-- : O *
what WP B-NP (S*
dignity NN I-NP *
is VBZ B-VP (S*
there RB B-ADVP *
in IN B-PP *
that DT B-NP *S)S)
? . O *
'' '' O *S)

The DT B-NP (S*
loyal JJ I-NP *
servant NN I-NP *
has VBZ B-VP *
come VBN I-VP *
full JJ B-NP *
circle NN I-NP *
. . O *S)

What WP B-NP (S*
is VBZ B-VP (S*
greatness NN B-NP *S)
? . O *S)

What WP B-NP (S*
is VBZ B-VP (S*
dignity NN B-NP *S)
? . O *S)

We PRP B-NP (S(S*
understand VBP B-VP *
such JJ B-NP (S(S*
rueful JJ I-NP *
wisdom NN I-NP *
must MD B-VP *
be VB I-VP *
retrospective NN B-NP *S)S)S)
: : O *
The DT B-NP (S*
owl NN I-NP *
of IN B-PP *
Minerva NNP B-NP *
only RB B-ADVP *
spreads VBZ B-VP *
her PRP$ B-NP *
wings NNS I-NP *
at IN B-PP *
dusk NN B-NP *S)
. . O *S)

But CC O (S*
as IN B-SBAR (S*
`` `` O (S*
The DT B-NP *
Remains NNS I-NP *
of IN B-PP *
the DT B-NP *
Day NNP I-NP *
'' '' O *
so RB B-ADVP *
eloquently RB I-ADVP *
demonstrates VBZ B-VP *
with IN B-PP *
quiet JJ B-NP *
virtuosity NN I-NP *S)S)
COMMA , O *
such JJ B-NP *
wisdom NN I-NP *
can MD B-VP *
be VB I-VP *
movingly RB I-VP *
embodied VBN I-VP *
in IN B-PP *
art NN B-NP *
. . O *S)

Mr. NNP B-NP (S*
Locke NNP I-NP *
teaches VBZ B-VP *
English NNP B-NP *
and CC O *
comparative JJ B-NP *
literature NN I-NP *
at IN B-PP *
Columbia NNP B-NP *
University NNP I-NP *
. . O *S)

UGI NNP B-NP (S*
Corp. NNP I-NP *
said VBD B-VP *
its PRP$ B-NP (S(S*
AmeriGas NNP I-NP *
subsidiary NN I-NP *
completed VBD B-VP *
the DT B-NP *
previously RB I-NP *
announced VBN I-NP *
sale NN I-NP *
of IN B-PP *
its PRP$ B-NP *
air NN I-NP *
separation NN I-NP *
plant NN I-NP *
and CC I-NP *
related VBN I-NP *
assets NNS I-NP *
in IN B-PP *
Waukesha NNP B-NP *
COMMA , O *
Wis. NNP B-NP *
COMMA , O *
to TO B-PP *
AGA NNP B-NP *
Gas NNP I-NP *
Inc. NNP I-NP *
COMMA , O *
Cleveland NNP B-NP *S)S)
. . O *S)

The DT B-NP (S*
price NN I-NP *
was VBD B-VP *
n't RB I-VP *
disclosed VBN I-VP *
. . O *S)

The DT B-NP (S*
transaction NN I-NP *
is VBZ B-VP *
part NN B-NP *
of IN B-PP *
UGI NNP B-NP *
's POS B-NP *
continuing VBG I-NP *
program NN I-NP *
to TO B-VP (S*
shed VB I-VP *
AmeriGas NNP B-NP *
's POS B-NP *
industrial JJ I-NP *
gas NN I-NP *
interests NNS I-NP *
and CC O *
expand VB B-VP *
the DT B-NP *
subsidiary NN I-NP *
's POS B-NP *
propane NN I-NP *
business NN I-NP *S)
. . O *S)

Since IN B-PP (S*
June NNP B-NP *
COMMA , O *
AmeriGas NNP B-NP *
has VBZ B-VP *
netted VBN I-VP *
more JJR B-NP *
than IN I-NP *
$ $ I-NP *
100 CD I-NP *
million CD I-NP *
from IN B-PP *
industrial JJ B-NP *
gas NN I-NP *
divestitures NNS I-NP *
and CC O *
reinvested VBN B-VP *
more JJR B-NP *
than IN I-NP *
$ $ I-NP *
50 CD I-NP *
million CD I-NP *
to TO B-VP (S*
acquire VB I-VP *
three CD B-NP *
propane NN I-NP *
distributors NNS I-NP *S)
. . O *S)

UGI NNP B-NP (S*
is VBZ B-VP *
a DT B-NP *
gas NN I-NP *
and CC I-NP *
electric JJ I-NP *
utility NN I-NP *
and CC O *
distributes VBZ B-VP *
propane NN B-NP *
nationally RB B-ADVP *
through IN B-PP *
its PRP$ B-NP *
AmeriGas NNP I-NP *
subsidiary NN I-NP *
. . O *S)

Stanislav NNP B-NP (S*
Ovcharenko NNP I-NP *
COMMA , O *
who WP B-NP (S*
represents VBZ B-VP (S*
the DT B-NP *
Soviet JJ I-NP *
airline NN I-NP *
Aeroflot NNP I-NP *
here RB B-ADVP *S)S)
COMMA , O *
has VBZ B-VP *
some DT B-NP *
visions NNS I-NP *
that WDT B-NP (S*
are VBP B-VP (S*
wild JJ B-ADJP *
even RB O *
by IN B-PP *
the DT B-NP *
current JJ I-NP *
standards NNS I-NP *
of IN B-PP *
perestroika FW B-NP *S)S)
. . O *S)

In IN B-PP (S*
his PRP$ B-NP *
office NN I-NP *
overlooking VBG B-VP *
the DT B-NP *
runway NN I-NP *
of IN B-PP *
Shannon NNP B-NP *
Airport NNP I-NP *
COMMA , O *
Mr. NNP B-NP *
Ovcharenko NNP I-NP *
enthusiastically RB B-ADVP *
throws VBZ B-VP *
out IN B-PRT *
what WP B-NP (S*
he PRP B-NP (S*
calls VBZ B-VP *
`` `` O *
just RB O *
ideas NNS O *
'' '' O *S)S)
: : O *S)

First RB B-ADVP (S*
COMMA , O *
he PRP B-NP (S*
suggests VBZ B-VP *S)
COMMA , O *
GPA NNP B-NP *
Group NNP I-NP *
Ltd. NNP I-NP *
COMMA , O *
the DT B-NP *
international JJ I-NP *
aircraft NN I-NP *
leasing NN I-NP *
company NN I-NP *
based VBN B-VP *
in IN B-PP *
Ireland NNP B-NP *
COMMA , O *
could MD B-VP *
lease VB I-VP *
some DT B-NP *
of IN B-PP *
its PRP$ B-NP *
Boeing NNP I-NP *
jetliners NNS I-NP *
to TO B-PP *
the DT B-NP *
Soviet JJ I-NP *
airline NN I-NP *
. . O *S)

Then RB O (S(S*
Aer NNP B-NP *
Lingus NNP I-NP *
COMMA , O *
the DT B-NP *
Irish JJ I-NP *
flag NN I-NP *
carrier NN I-NP *
COMMA , O *
could MD B-VP *
teach VB I-VP *
Aeroflot NNP B-NP *
pilots NNS I-NP *
to TO B-VP (S*
fly VB I-VP *
the DT B-NP *
Boeings NNPS I-NP *S)S)
COMMA , O *
and CC O *
the DT B-NP (S*
fleet NN I-NP *
could MD B-VP *
be VB I-VP *
based VBN I-VP *
here RB B-ADVP *
at IN B-PP *
Shannon NNP B-NP *
Airport NNP I-NP *S)
. . O *S)

That DT B-NP (S(S*
's VBZ B-VP *
not RB O *
all DT O *S)
COMMA , O *
he PRP B-NP *
says VBZ B-VP *
. . O *S)

Aer NNP B-NP (S*
Rianta NNP I-NP *
COMMA , O *
the DT B-NP *
Irish JJ I-NP *
airport NN I-NP *
authority NN I-NP *
COMMA , O *
could MD B-VP *
build VB I-VP *
a DT B-NP *
cargo NN I-NP *
terminal NN I-NP *
in IN B-PP *
the DT B-NP *
Soviet NNP I-NP *
Union NNP I-NP *
. . O *S)

Aeroflot NNP B-NP (S*
could MD B-VP *
lease VB I-VP *
some DT B-NP *
of IN B-PP *
its PRP$ B-NP *
cargo NN I-NP *
planes NNS I-NP *
to TO B-PP *
Aer NNP B-NP *
Lingus NNP I-NP *
COMMA , O *
through IN B-PP *
GPA NNP B-NP *
COMMA , O *
for IN B-PP *
a DT B-NP *
joint-venture JJ I-NP *
cargo NN I-NP *
airline NN I-NP *
. . O *S)

And CC O (S*
then RB B-ADVP *
there EX B-NP *
is VBZ B-VP *
his PRP$ B-NP *
notion NN I-NP *
of IN B-PP *
an DT B-NP *
Irish-Soviet JJ I-NP *
charter NN I-NP *
airline NN I-NP *
to TO B-VP (S(S*
ferry VB I-VP *
Armenians NNPS B-NP *
to TO B-PP *
Los NNP B-NP *
Angeles NNP I-NP *
via IN B-PP *
Shannon NNP B-NP *S)S)
. . O *S)

Have VBP B-VP (S*
the DT B-NP *
freedoms NNS I-NP *
of IN B-PP *
glasnost FW B-NP *
gone VBN B-VP *
to TO B-PP *
Mr. NNP B-NP *
Ovcharenko NNP I-NP *
's POS B-NP *
head NN I-NP *
? . O *S)

Hardly RB O *
. . O *

The DT B-NP (S*
Irish-Soviet JJ I-NP *
aviation NN I-NP *
connection NN I-NP *
is VBZ B-VP *
alive JJ O *
and CC O *
well RB O *
here RB O *
at IN B-PP *
Shannon NNP B-NP *
Airport NNP I-NP *
. . O *S)

GPA NNP B-NP (S*
is VBZ B-VP *
indeed RB I-VP *
talking VBG I-VP *
about IN B-PP *
leasing VBG B-VP (S*
Western JJ B-NP *
planes NNS I-NP *
to TO B-PP *
Aeroflot NNP B-NP *S)
and CC O *
even RB B-ADVP *
about IN B-PP *
buying VBG B-VP (S*
Soviet-built JJ B-NP *
Tupolev NNP I-NP *
204s CD I-NP *S)
. . O *S)

Aer NNP B-NP (S*
Lingus NNP I-NP *
is VBZ B-VP *
in IN B-PP *
discussions NNS B-NP *
with IN B-PP *
the DT B-NP *
Soviet JJ I-NP *
carrier NN I-NP *
about IN B-PP *
a DT B-NP *
cargo NN I-NP *
venture NN I-NP *
and CC O *
other JJ B-NP *
possibilities NNS I-NP *
. . O *S)

Aer NNP B-NP (S*
Rianta NNP I-NP *
already RB B-ADVP *
has VBZ O *
so RB O *
many JJ O *
ventures NNS O *
with IN B-PP *
Aeroflot NNP B-NP *
that IN B-SBAR (S*
its PRP$ B-NP (S*
chief JJ I-NP *
executive NN I-NP *
is VBZ O *
studying VBG O *
Russian NNP O *S)S)
. . O *S)

Unlikely RB B-SBAR (S(S*
as IN I-SBAR (S*
it PRP B-NP (S*
may MD B-VP *
seem VB I-VP *S)S)S)
COMMA , O *
tiny JJ O *
COMMA , O *
politically RB B-NP *
neutral JJ I-NP *
Ireland NNP I-NP *
has VBZ B-VP *
penetrated VBN I-VP *
the DT B-NP *
mighty JJ I-NP *
Soviet JJ I-NP *
airline NN I-NP *
bureaucracy NN I-NP *
. . O *S)

And CC O (S*
as IN B-SBAR (S*
Aeroflot NNP B-NP (S*
struggles NNS I-NP *
to TO B-VP *
boost VB I-VP *
its PRP$ B-NP *
service NN I-NP *
standards NNS I-NP *
COMMA , O *
upgrade VB B-VP *
its PRP$ B-NP *
fleet NN I-NP *
and CC O *
pursue VB B-VP *
commercial JJ B-NP *
opportunities NNS I-NP *S)S)
COMMA , O *
the DT B-NP *
Irish JJ I-NP *
aviation NN I-NP *
industry NN I-NP *
seems VBZ B-VP *
poised VBN I-VP *
to TO I-VP *
benefit VB I-VP *
. . O *S)

`` `` O (S*
Irish JJ O (S*
and CC O *
Soviet JJ B-NP *
people NNS I-NP *
are VBP B-VP *
similar JJ B-ADJP *S)
COMMA , O *
'' '' O *
says VBZ B-VP *
Mr. NNP B-NP *
Ovcharenko NNP I-NP *
. . O *S)

`` `` O (S*
They PRP B-NP *
look VBP B-VP *
the DT B-NP *
same JJ I-NP *
. . O *S)

They PRP B-NP (S*
're VBP B-VP *
very RB B-ADJP *
friendly JJ I-ADJP *
. . O *
'' '' O *S)

Moreover RB B-ADVP (S*
COMMA , O *
he PRP B-NP (S*
says VBZ B-VP *S)
COMMA , O *
Irish JJ B-NP *
companies NNS I-NP *
are VBP B-VP *
small JJ O *
but CC O *
spunky NN O *
. . O *S)

`` `` O (S*
We PRP B-NP (S*
have VBP B-VP *
to TO I-VP *
study VB I-VP *
their PRP$ B-NP *
experience NN I-NP *
very RB B-ADVP *
well RB I-ADVP *S)
COMMA , O *
'' '' O *
he PRP B-NP *
says VBZ B-VP *
. . O *S)

`` `` O (S*
We PRP B-NP *
must MD B-VP *
find VB I-VP *
any DT B-NP *
way NN I-NP *
to TO B-VP (S(S*
get VB I-VP *
business NN B-NP *S)S)
. . O *
'' '' O *S)

The DT B-NP (S*
two CD I-NP *
groups NNS I-NP *
have VBP B-VP *
been VBN I-VP *
working VBG I-VP *
together RB B-ADVP *
since IN B-PP *
the DT B-NP *
late JJ I-NP *
1970s NNS I-NP *
COMMA , O *
long RB B-ADVP (S*
before IN B-PP *
Soviet JJ B-NP (S*
joint JJ I-NP *
ventures NNS I-NP *
were VBD B-VP *
the DT B-NP *
rage NN I-NP *
in IN B-PP *
the DT B-NP *
West NNP I-NP *S)S)
. . O *S)

Aeroflot NNP B-NP (S(S*
carried VBD B-VP *
about IN B-NP *
125 CD I-NP *
million CD I-NP *
passengers NNS I-NP *
last JJ B-NP *
year NN I-NP *S)
COMMA , O *
and CC O *
Shannon NNP B-NP (S*
Airport NNP I-NP *
COMMA , O *
the DT B-NP *
airline NN I-NP *
's POS B-NP *
largest JJS I-NP *
transit NN I-NP *
airport NN I-NP *
outside IN B-PP *
the DT B-NP *
Soviet NNP I-NP *
Union NNP I-NP *
COMMA , O *
saw VBD B-VP *
1COMMA400 CD B-NP (S*
Aeroflot NNP I-NP *
flights NNS I-NP *
and CC O *
250COMMA000 CD B-NP *
passengers NNS I-NP *
pass VBP B-VP *
through RB B-PRT *S)S)
. . O *S)

An DT B-NP (S*
apartment NN I-NP *
complex JJ O *
down RP B-PRT *
the DT B-NP *
road NN I-NP *
is VBZ B-VP *
the DT B-NP *
crew-rest NN I-NP *
and CC O *
staging VBG O *
area NN O *
for IN B-PP *
more JJR B-NP *
than IN I-NP *
130 CD I-NP *
Aeroflot NNP I-NP *
pilots NNS I-NP *
and CC O *
flight NN B-NP *
attendants NNS I-NP *
. . O *S)

The DT B-NP (S*
airport NN I-NP *
's POS B-NP *
biggest JJS I-NP *
supplier NN I-NP *
of IN B-PP *
aircraft NN B-NP *
fuel NN I-NP *
is VBZ B-VP *
the DT B-NP *
Soviet NNP I-NP *
Union NNP I-NP *
. . O *S)

Tankers NNS B-NP (S*
from IN B-PP *
the DT B-NP *
Latvian JJ I-NP *
port NN I-NP *
of IN B-PP *
Ventspils NNP B-NP *
each DT B-NP *
year NN I-NP *
unload VB B-VP *
25 CD B-NP *
million CD I-NP *
gallons NNS I-NP *
of IN B-PP *
fuel NN B-NP *
into IN B-PP *
a DT B-NP *
special JJ I-NP *
tank NN I-NP *
farm NN I-NP *
at IN B-PP *
the DT B-NP *
airport NN I-NP *
. . O *S)

What WP B-NP (S(S*
Aeroflot NNP I-NP (S*
does VBZ B-VP *
n't RB I-VP *
pour VB I-VP *
into IN B-PP *
its PRP$ B-NP *
own JJ I-NP *
gas-guzzling JJ I-NP *
Ilyushins NNPS I-NP *S)S)
is VBZ B-VP *
bartered VBN I-VP *
to TO B-PP *
the DT B-NP *
airport NN I-NP *
authority NN I-NP *
COMMA , O *
which WDT B-NP (S*
resells VBZ B-VP (S*
it PRP B-NP *
to TO O *
11 CD B-NP *
Western JJ I-NP *
carriers NNS I-NP *
including VBG B-PP *
Air NNP B-NP *
France NNP I-NP *
COMMA , O *
Trans NNP B-NP *
World NNP I-NP *
Airlines NNPS I-NP *
and CC I-NP *
Pakistan NNP I-NP *
International NNP I-NP *
Airlines NNPS I-NP *S)S)
. . O *S)

Aeroflot NNP B-NP (S*
thus RB B-ADVP *
pays VBZ B-VP *
its PRP$ B-NP *
landing NN I-NP *
fees NNS I-NP *
COMMA , O *
ground-handling NNS B-NP *
and CC O *
catering NN B-NP *
bills NNS I-NP *
with IN B-PP *
fuel NN B-NP *
COMMA , O *
preserving VBG B-VP (S*
its PRP$ B-NP *
hard JJ I-NP *
currency NN I-NP *S)
. . O *S)

That DT B-NP (S*
is VBZ B-VP *
n't RB O *
all DT O *
. . O *S)

Last JJ B-NP (S*
year NN I-NP *
COMMA , O *
the DT B-NP *
Irish JJ I-NP *
airport NN I-NP *
authority NN I-NP *
COMMA , O *
in IN B-PP *
a DT B-NP *
joint JJ I-NP *
venture NN I-NP *
with IN B-PP *
Aeroflot NNP B-NP *
COMMA , O *
opened VBD B-VP *
four CD O *
hard-currency NN O *
duty-free JJ B-NP *
shops NNS I-NP *
at IN B-PP *
Moscow NNP B-NP *
's POS B-NP *
Sheremetyevo NNP I-NP *
Airport NNP I-NP *
. . O *S)

Aer NNP B-NP (S*
Rianta NNP I-NP *
now RB B-ADVP *
manages VBZ B-VP *
duty-free JJ B-NP *
sales NNS I-NP *
on IN B-PP *
all DT B-NP *
Aeroflot NNP I-NP *
international JJ I-NP *
flights NNS I-NP *
out IN B-PP *
of IN B-PP *
Moscow NNP B-NP *
. . O *S)

Duty-free JJ B-NP (S(S*
shops NNS I-NP *
in IN B-PP *
Leningrad NNP B-NP *
's POS B-NP *
Pulkova NNP I-NP *
Airport NNP I-NP *
opened VBD B-VP *
in IN B-PP *
July NNP B-NP *S)
COMMA , O *
and CC O *
hard-currency NN B-NP (S*
shops NNS I-NP *
in IN B-PP *
Leningrad NNP B-NP *
hotels NNS I-NP *
and CC B-PP *
on IN B-PP *
the DT B-NP *
Soviet-Finnish JJ I-NP *
frontier NN I-NP *
are VBP B-VP *
coming VBG I-VP *
soon RB B-ADVP *S)
. . O *S)

Aer NNP B-NP (S*
Rianta NNP I-NP *
is VBZ B-VP *
talking VBG I-VP *
about IN B-PP *
similar JJ B-NP *
joint JJ I-NP *
ventures NNS I-NP *
in IN B-PP *
Tashkent NNP B-NP *
and CC B-PP *
in IN B-PP *
Sochi NNP B-NP *
COMMA , O *
a DT B-NP *
Black NNP I-NP *
Sea NNP I-NP *
resort NN I-NP *
COMMA , O *
and CC O *
even RB B-ADVP *
has VBZ B-VP *
a DT B-NP *
computer-assembly NN I-NP *
project NN I-NP *
cooking NN I-NP *
with IN B-PP *
the DT B-NP *
Georgian JJ I-NP *
city NN I-NP *
of IN B-PP *
Tbilisi NNP B-NP *
. . O *S)

Aeroflot NNP B-NP (S*
's POS B-NP *
international JJ I-NP *
fleet NN I-NP *
of IN B-PP *
285 CD B-NP *
planes NNS I-NP *
is VBZ B-VP *
being VBG I-VP *
repainted VBN I-VP *
and CC I-VP *
refurbished VBN I-VP *
at IN B-PP *
Shannon NNP B-NP *
Airport NNP I-NP *
. . O *S)

Thanks NNS B-NP (S(S*
to TO B-PP *
a DT B-NP *
new JJ I-NP *
air-traffic NN I-NP *
agreement NN I-NP *
and CC O *
the DT B-NP *
ability NN I-NP *
of IN B-PP *
Irish JJ B-NP *
travel NN I-NP *
agents NNS I-NP *
to TO B-VP (S*
issue VB I-VP *
Aeroflot NNP B-NP *
tickets NNS I-NP *S)S)
COMMA , O *
tourists NNS B-NP *
here RB B-ADVP *
are VBP B-VP *
taking VBG I-VP *
advantage NN B-NP *
of IN B-PP *
Aeroflot NNP B-NP *
's POS B-NP *
reasonable JJ I-NP *
prices NNS I-NP *
to TO B-VP (S*
board VB I-VP *
flights NNS B-NP *
in IN B-PP *
Shannon NNP B-NP *
for IN B-PP *
holidays NNS B-NP *
in IN B-PP *
Havana NNP B-NP *
COMMA , O *
Kingston NNP B-NP *
and CC O *
Mexico NNP B-NP *
City NNP I-NP *S)
. . O *S)

The DT B-NP (S*
round-trip JJ I-NP *
fare NN I-NP *
to TO B-PP *
Havana NNP B-NP *
is VBZ B-VP *
410 CD B-NP *
Irish JJ I-NP *
punts NNS I-NP *
( -LRB- O *
$ $ B-NP *
578 CD I-NP *
) -RRB- O *
. . O *S)

Jamaica NNP B-NP (S*
costs NNS I-NP *
504 CD B-NP *
punts NNS I-NP *
. . O *S)

A DT B-NP (S*
formal JJ I-NP *
blessing NN I-NP *
of IN B-PP *
sorts NNS B-NP *
was VBD B-VP *
bestowed VBN I-VP *
on IN B-PP *
this DT B-NP *
friendship NN I-NP *
in IN B-PP *
April NNP B-NP *
when WRB B-ADVP (S*
Mikhail NNP B-NP (S*
and CC O *
Raisa NNP B-NP *
Gorbachev NNP I-NP *
stopped VBD B-VP *
here RB B-ADVP *
for IN B-PP *
talks NNS B-NP *
with IN B-PP *
Irish JJ B-NP *
Prime NNP I-NP *
Minister NNP I-NP *
Charles NNP I-NP *
Haughey NNP I-NP *S)S)
. . O *S)

New JJ B-NP (S*
trade NN I-NP *
accords NNS I-NP *
were VBD B-VP *
signed VBN I-VP *
. . O *S)

It PRP B-NP (S*
all DT B-NP *
started VBD B-VP *
with IN B-PP *
geography NN B-NP *
. . O *S)

When WRB B-ADVP (S(S*
it PRP B-NP (S*
opened VBD B-VP *
in IN B-PP *
1939 CD B-NP *S)S)
COMMA , O *
Shannon NNP B-NP *
was VBD B-VP *
the DT B-NP *
first JJ I-NP *
landfall NN I-NP *
in IN B-PP *
Europe NNP B-NP *
for IN B-PP *
thirsty JJ B-NP *
airplanes NNS I-NP *
flying VBG B-VP *
from IN B-PP *
North NNP B-NP *
America NNP I-NP *
. . O *S)

Advances NNS B-NP (S(S*
in IN B-PP *
aircraft NN O *
fuel NN B-NP *
efficiency NN I-NP *
over IN B-PP *
the DT B-NP *
years NNS I-NP *
made VBD B-VP *
a DT B-NP *
Shannon NNP I-NP *
stop NN I-NP *
unnecessary JJ B-ADJP *
for IN B-PP *
most RBS B-NP *
Western JJ I-NP *
air NN I-NP *
fleets NNS I-NP *S)
COMMA , O *
but CC O *
Aeroflot NNP B-NP (S*
still RB B-ADVP *
flies VBZ B-VP *
inefficient JJ B-NP *
Ilyushins NNPS I-NP *
that WDT B-NP (S*
ca MD B-VP (S*
n't RB I-VP *
make VB I-VP *
it PRP B-NP *
from IN B-PP *
Moscow NNP B-NP *
to TO B-PP *
Managua NNP B-NP *
on IN B-PP *
one CD B-NP *
hop NN I-NP *S)S)S)
. . O *S)

As IN B-PP (S*
a DT B-NP *
result NN I-NP *
COMMA , O *
Ireland NNP B-NP *
did VBD B-VP *
n't RB I-VP *
spurn VB I-VP *
the DT B-NP *
Soviets NNPS I-NP *
after IN B-SBAR (S*
they PRP B-NP (S*
shot NN O *
down RP B-PP *
a DT B-NP *
Korean NNP I-NP *
Air NNP I-NP *
Lines NNPS I-NP *
jetliner NN I-NP *
over IN B-PP *
the DT B-NP *
Sea NNP I-NP *
of IN B-PP *
Japan NNP B-NP *
in IN B-PP *
1983 CD B-NP *S)S)
COMMA , O *
though IN B-SBAR (S*
it PRP B-NP (S*
suspended VBD B-VP *
direct JJ B-NP *
Moscow-Shannon JJ I-NP *
flights NNS I-NP *
for IN B-PP *
two CD B-NP *
months NNS I-NP *S)S)
. . O *S)

In IN B-PP (S*
fact NN B-NP *
COMMA , O *
Aer NNP B-NP *
Lingus NNP I-NP *
started VBD B-VP *
ferrying VBG I-VP *
Russians NNPS B-NP *
from IN B-PP *
Shannon NNP B-NP *
to TO B-PP *
New NNP B-NP *
York NNP I-NP *
when WRB B-ADVP (S*
Washington NNP B-NP (S*
stripped VBD B-VP *
Aeroflot NNP B-NP *
of IN B-PP *
its PRP$ B-NP *
U.S. NNP I-NP *
landing NN I-NP *
rights NNS I-NP *S)S)
. . O *S)

Today NN B-NP (S*
COMMA , O *
Aer NNP B-NP *
Rianta NNP I-NP *
is VBZ B-VP *
making VBG I-VP *
a DT B-NP *
heap NN I-NP *
of IN B-PP *
money NN B-NP *
from IN B-PP *
its PRP$ B-NP *
Soviet JJ I-NP *
friendship NN I-NP *
. . O *S)

And CC O (S*
COMMA , O *
with IN B-PP *
those DT B-NP *
contacts NNS I-NP *
in IN B-PP *
place NN B-NP *
COMMA , O *
it PRP B-NP *
could MD B-VP *
be VB I-VP *
relatively RB B-ADJP *
simple JJ I-ADJP *
to TO B-VP (S*
add VB I-VP *
Aer NNP B-NP *
Lingus NNP I-NP *
and CC O *
GPA NNP B-NP *
to TO B-PP *
the DT B-NP *
team NN I-NP *S)
. . O *S)

Then RB B-ADVP (S*
COMMA , O *
perhaps RB B-ADVP *
COMMA , O *
Mr. NNP B-NP *
Ovcharenko NNP I-NP *
's POS B-NP *
ideas NNS I-NP *
would MD B-VP *
n't RB I-VP *
sound VB I-VP *
like IN B-PP *
so RB B-NP *
much JJ I-NP *
blarney NN I-NP *
. . O *S)

Britain NNP B-NP (S*
's POS B-NP *
industrial JJ I-NP *
production NN I-NP *
rose VBD B-VP *
1.5 CD B-NP *
% NN I-NP *
in IN B-PP *
August NNP B-NP *
from IN B-PP *
July NNP B-NP *
and CC O *
was VBD B-VP *
up IN B-ADVP *
0.9 CD B-NP *
% NN I-NP *
from IN B-PP *
August NNP B-NP *
1988 CD I-NP *
COMMA , O *
according VBG B-PP *
to TO B-PP *
provisional JJ B-NP *
data NNS I-NP *
from IN B-PP *
the DT B-NP *
Central NNP I-NP *
Statistical NNP I-NP *
Office NNP I-NP *
. . O *S)

Output NN B-NP (S*
in IN B-PP *
the DT B-NP *
energy NN I-NP *
sector NN I-NP *
COMMA , O *
which WDT B-NP (S*
can MD B-VP (S*
vary VB I-VP *
greatly RB B-ADVP *
with IN B-PP *
swings NNS B-NP *
in IN B-PP *
the DT B-NP *
oil NN I-NP *
market NN I-NP *S)S)
COMMA , O *
rose VBD B-VP *
3.8 CD B-NP *
% NN I-NP *
in IN B-PP *
August NNP B-NP *
from IN B-PP *
May NNP B-NP *
but CC O *
was VBD B-VP *
down RB B-ADVP *
7.1 CD B-NP *
% NN I-NP *
from IN B-PP *
a DT B-NP *
year NN I-NP *
earlier RBR B-ADVP *
. . O *S)

The DT B-NP (S*
latest JJS I-NP *
figures NNS I-NP *
compare VBP B-VP *
with IN B-PP *
July NNP B-NP *
's POS B-NP *
4.5 CD O *
% NN O *
month-to-month JJ O *
rise NN O *
and CC O *
11.3 CD O *
% NN O *
year-to-year JJ O *
fall NN O *
. . O *S)

When WRB B-ADVP (S(S*
Nucor NNP B-NP (S*
Corp. NNP I-NP *
begins VBZ B-VP *
shipping VBG I-VP *
steel NN B-NP *
from IN B-PP *
the DT B-NP *
world NN I-NP *
's POS B-NP *
first JJ I-NP *
thin-slab JJ I-NP *
plant NN I-NP *
this DT B-NP *
month NN I-NP *S)S)
COMMA , O *
it PRP B-NP *
will MD B-VP *
begin VB I-VP *
testing VBG I-VP *
the DT B-NP *
competitive JJ I-NP *
mettle NN I-NP *
of IN B-PP *
its PRP$ B-NP *
giant NN I-NP *
competitors NNS I-NP *
. . O *S)

The DT B-NP (S*
new JJ I-NP *
technology NN I-NP *
COMMA , O *
which WDT B-NP (S*
creates VBZ B-VP (S*
a DT B-NP *
very RB I-NP *
thin JJ I-NP *
piece NN I-NP *
of IN B-PP *
steel NN B-NP *S)S)
COMMA , O *
radically RB B-ADVP *
reduces VBZ B-VP *
the DT B-NP *
costs NNS I-NP *
of IN B-PP *
making VBG B-VP (S*
flat-rolled JJ B-NP *
sheets NNS I-NP *S)
. . O *S)

An DT B-NP (S*
ebullient JJ I-NP *
Kenneth NNP I-NP *
Iverson NNP I-NP *
COMMA , O *
Nucor NNP B-NP *
's POS B-NP *
chairman NN I-NP *
COMMA , O *
says VBZ B-VP *
the DT B-NP (S(S*
company NN I-NP *
's POS B-NP *
plant NN I-NP *
eventually RB B-ADVP *
will MD B-VP *
make VB I-VP *
a DT B-NP *
ton NN I-NP *
of IN B-PP *
steel NN B-NP *
in IN B-PP *
1.5 CD B-NP *
man NN I-NP *
hours NNS I-NP *
COMMA , O *
compared VBN B-PP *
with IN B-PP *
four CD B-NP *
to TO I-NP *
six CD I-NP *
man NN I-NP *
hours NNS I-NP *
at IN B-PP *
a DT B-NP *
conventional JJ I-NP *
mill NN I-NP *S)S)
. . O *S)

`` `` O (S*
We PRP B-NP (S*
've VBP B-VP *
had VBD I-VP *
the DT B-NP (S*
Russians NNPS I-NP *
and CC I-NP *
Chinese JJ I-NP *
COMMA , O *
and CC O *
people NNS B-NP *
from IN B-PP *
India NNP O *
visiting VBG O *
us PRP B-NP *S)S)
COMMA , O *
'' '' O *
Mr. NNP B-NP *
Iverson NNP I-NP *
beams VBZ B-VP *
. . O *S)

`` `` O (S*
Everyone NN B-NP *
in IN B-PP *
the DT B-NP *
world NN I-NP *
is VBZ B-VP *
watching VBG I-VP *
us PRP B-NP *
very RB B-ADVP *
closely RB I-ADVP *
. . O *
'' '' O *S)

Especially RB B-ADVP *
his PRP$ B-NP *
neighbors NNS I-NP *
COMMA , O *
the DT B-NP *
major JJ I-NP *
U.S. NNP I-NP *
steelmakers NNS I-NP *
. . O *

Already RB B-ADVP (S*
COMMA , O *
USX NNP B-NP *
Corp. NNP I-NP *
and CC O *
Armco NNP B-NP *
Inc. NNP I-NP *
are VBP B-VP *
studying VBG I-VP *
Nucor NNP B-NP *
's POS B-NP *
technology NN I-NP *
to TO B-VP (S*
see VB I-VP *
if IN B-SBAR (S*
they PRP B-NP (S*
can MD B-VP *
adopt VB I-VP *
it PRP B-NP *S)S)S)
. . O *S)

Says VBZ B-VP (S*
the DT B-NP *
chief JJ I-NP *
executive JJ I-NP *
officer NN I-NP *
of IN B-PP *
a DT B-NP *
major JJ I-NP *
Midwest NNP I-NP *
steel NN I-NP *
company NN I-NP *
: : O *
`` `` O *
It PRP B-NP (S*
's VBZ B-VP *
damn JJ B-ADJP *
worrisome JJ I-ADJP *S)
. . O *
'' '' O *S)

The DT B-NP (S*
once-staid JJ I-NP *
steel NN I-NP *
industry NN I-NP *
is VBZ B-VP *
about IN O *
to TO B-VP (S*
be VB I-VP *
turned VBN I-VP *
topsy-turvy JJ B-ADJP *
by IN B-PP *
a DT B-NP *
1990s CD I-NP *
technology NN I-NP *
revolution NN I-NP *S)
. . O *S)

New NNP B-NP (S*
COMMA , O *
efficient JJ B-NP *
and CC I-NP *
sophisticated JJ I-NP *
processes NNS I-NP *
make VBP B-VP *
it PRP B-NP *
easier JJR B-ADJP *
for IN B-SBAR (S*
smaller JJR B-NP (S*
COMMA , I-NP *
less RBR I-NP *
cash-rich JJ I-NP *
companies NNS I-NP *
to TO B-VP *
make VB I-VP *
steel NN B-NP *
at IN B-PP *
a DT B-NP *
fraction NN I-NP *
of IN B-PP *
what WP B-NP (S*
Big NNP O (S*
Steel NNP O *
paid VBD B-VP *
decades NNS O *
ago RB B-ADVP *S)S)S)S)
. . O *S)

It PRP B-NP (S*
also RB B-ADVP *
enables VBZ B-VP *
minimills NNS B-NP (S*
finally RB O *
to TO B-VP *
get VB I-VP *
a DT B-NP *
toehold NN I-NP *
in IN B-PP *
the DT B-NP *
flat-rolled JJ I-NP *
steel NN I-NP *
market NN I-NP *
-- : O *
the DT B-NP *
major JJ I-NP *
steelmakers NNS I-NP *
' POS B-NP *
largest JJS I-NP *
COMMA , O *
most RBS O *
prized VBN O *
COMMA , O *
and CC O *
until IN B-PP *
now RB B-ADVP *
COMMA , O *
untouchable JJ B-NP *
COMMA , I-NP *
market NN I-NP *S)
. . O *S)

But CC O (S*
such JJ B-NP *
thin-slab JJ I-NP *
technology NN I-NP *
is VBZ B-VP *
only RB O *
the DT B-NP *
beginning NN I-NP *
. . O *S)

Eager JJ B-NP (S*
engineers NNS I-NP *
espouse VBP B-VP *
direct-steelmaking NN B-NP *
and CC O *
direct JJ B-NP *
casting NN I-NP *
COMMA , O *
which WDT B-NP (S*
by IN B-PP (S*
the DT B-NP *
end NN I-NP *
of IN B-PP *
the DT B-NP *
1990s CD I-NP *
will MD B-VP *
enable VB I-VP *
production NN B-NP *
without IN B-PP *
coke NN B-NP *
ovens NNS I-NP *
and CC O *
blast NN B-NP *
furnaces NNS I-NP *S)S)
. . O *S)

Those DT B-NP (S*
massive JJ I-NP *
structures NNS I-NP *
COMMA , O *
while IN B-SBAR (S*
posing VBG B-VP (S*
cost NN B-NP *
and CC I-NP *
environmental JJ I-NP *
headaches NNS I-NP *S)S)
COMMA , O *
effectively RB B-VP *
locked VBN I-VP *
out RP B-PRT *
all DT B-NP *
but CC I-NP *
deep-pocketed JJ I-NP *
giants NNS I-NP *
from IN B-PP *
steelmaking NN B-NP *
. . O *S)

`` `` O (S*
There EX B-NP (S*
's VBZ B-VP *
a DT B-NP *
revolution NN I-NP *
ahead RB B-ADVP *
of IN B-PP *
us PRP B-NP *
that WDT B-NP (S*
will MD B-VP (S*
ultimately RB I-VP *
change VB I-VP *
the DT B-NP *
way NN I-NP *
we PRP B-NP (S(S*
market VBP B-VP *
and CC O *
distribute VB B-VP *
steel NN O *S)S)S)S)S)
COMMA , O *
'' '' O *
says VBZ B-VP *
William NNP B-NP *
Dennis NNP I-NP *
COMMA , O *
vice NN B-NP *
president NN I-NP *
COMMA , O *
manufacturing NN O *
and CC O *
technology NN O *
COMMA , O *
for IN B-PP *
the DT B-NP *
American NNP I-NP *
Iron NNP I-NP *
Ore NNP I-NP *
and CC O *
Steel NNP B-NP *
Institute NNP I-NP *
. . O *S)

It PRP B-NP (S*
is VBZ B-VP *
n't RB O *
that IN B-SBAR (S*
major JJ B-NP (S*
steelmakers NNS I-NP *
have VBP B-VP *
blithely RB I-VP *
ignored VBN I-VP *
high JJ B-NP *
technology NN I-NP *S)S)
. . O *S)

In IN B-PP (S*
fact NN B-NP *
COMMA , O *
they PRP B-NP *
've VBP B-VP *
spent VBD I-VP *
billions NNS B-NP *
of IN B-PP *
dollars NNS B-NP *
to TO B-VP (S*
boost VB I-VP *
the DT B-NP *
percentage NN I-NP *
of IN B-PP *
continously RB O *
cast VBP B-VP *
steel NN B-NP *
to TO O *
60.9 CD B-NP *
% NN I-NP *
in IN B-PP *
1988 CD B-NP *
COMMA , O *
from IN B-PP *
39.6 CD B-NP *
% NN I-NP *
five CD B-NP *
years NNS I-NP *
before RB B-ADVP *S)
. . O *S)

Moreover RB B-ADVP (S*
COMMA , O *
their PRP$ B-NP (S*
balance NN I-NP *
sheets NNS I-NP *
are VBP B-VP *
rich JJ B-ADJP *
with IN B-PP *
diversity NN B-NP *S)
COMMA , O *
their PRP$ B-NP (S*
old JJ I-NP *
plants NNS I-NP *
shuttered JJ B-ADJP *S)
COMMA , O *
and CC O *
work NN B-NP (S*
forces NNS I-NP *
lean JJ O *S)
. . O *S)

But CC O (S*
that DT B-NP *
wo MD B-VP *
n't RB I-VP *
suffice VB I-VP *
. . O *S)

`` `` O (S*
It PRP B-NP *
's VBZ B-VP *
no RB O *
longer RB O *
enough RB O *
to TO B-VP (S*
beat VB I-VP *
the DT B-NP *
guy NN I-NP *
down RP B-PP *
the DT B-NP *
street NN I-NP *S)
. . O *S)

You PRP B-NP (S(S*
have VBP B-VP *
to TO I-VP *
beat VB I-VP *
everyone NN B-NP *
around IN B-PP *
the DT B-NP *
world NN I-NP *S)
COMMA , O *
'' '' O *
says VBZ B-VP *
Mr. NNP B-NP *
Dennis NNP I-NP *
. . O *S)

He PRP B-NP (S*
wants VBZ B-VP *
to TO I-VP *
see VB I-VP *
steelmakers NNS B-NP *
more RBR O *
involved VBN O *
in IN B-PP *
computers NNS B-NP *
and CC O *
artificial JJ B-NP *
intelligence NN I-NP *
. . O *S)

The DT B-NP *
problem NN I-NP *
: : O *
They PRP B-NP (S*
're VBP B-VP *
saddled VBN B-ADJP *
with IN B-PP *
huge JJ B-NP *
plants NNS I-NP *
that WDT B-NP (S*
require VBP B-VP (S*
costly JJ B-NP *
maintenance NN I-NP *S)S)S)
. . O *

And CC O (S*
try VB B-VP *
plying VBG I-VP *
new JJ B-NP *
dollars NNS I-NP *
free JJ B-VP *
in IN B-PP *
a DT B-NP *
market NN I-NP *
that WDT B-NP (S*
is VBZ B-VP (S*
softening VBG I-VP *S)S)
COMMA , O *
hurt VBN B-VP *
by IN B-PP *
a DT B-NP *
strong JJ I-NP *
dollar NN I-NP *
and CC O *
concerned VBN B-VP *
about IN B-PP *
overcapacity NN B-NP *
-- : O *
the DT B-NP *
industry NN I-NP *
's POS B-NP *
Darth NNP I-NP *
Vadar NNP I-NP *
. . O *S)

`` `` O (S*
The DT B-NP (S*
technology NN I-NP *
revolution NN I-NP *
is VBZ B-VP *
going VBG I-VP *
to TO I-VP *
be VB I-VP *
very RB O *
threatening VBG O *
to TO O *
established VBN B-NP *
producers NNS I-NP *S)
COMMA , O *
'' '' O *
says VBZ B-VP *
Peter NNP B-NP *
Marcus NNP I-NP *
COMMA , O *
an DT B-NP *
analyst NN I-NP *
with IN B-PP *
PaineWebber NNP B-NP *
Inc NNP I-NP *
. . O *S)

`` `` O (S*
They PRP B-NP (S*
've VBP B-VP *
got VBD I-VP *
too RB O *
much RB O *
invested VBN O *
in IN B-PP *
the DT B-NP *
old JJ I-NP *
stuff NN I-NP *S)
and CC O *
they PRP B-NP (S*
ca MD B-VP *
n't RB I-VP *
get VB I-VP *
their PRP$ B-NP (S*
workers NNS I-NP *
to TO B-VP *
be VB I-VP *
flexible JJ B-ADJP *S)S)
. . O *
'' '' O *S)

No DT B-NP (S*
one CD I-NP *
expects VBZ B-VP *
minimills NNS B-NP (S*
to TO B-VP *
eclipse VB I-VP *
major JJ B-NP *
integrated VBN I-NP *
steelmakers NNS I-NP *
COMMA , O *
who WP B-NP (S*
remain VBP B-VP (S*
the DT B-NP *
undisputed JJ I-NP *
kings NNS I-NP *
of IN B-PP *
highest-quality JJ B-NP *
steel NN I-NP *
used VBN B-VP *
for IN B-PP *
autos NNS B-NP *
and CC I-NP *
refrigerators NNS I-NP *S)S)S)
. . O *S)

Nucor NNP B-NP (S(S*
's POS B-NP *
plant NN I-NP *
in IN B-PP *
Crawfordsville NNP B-NP *
COMMA , O *
Ind. NNP B-NP *
COMMA , O *
ultimately RB B-ADVP *
will MD B-VP *
produce VB I-VP *
only RB B-NP *
one CD I-NP *
million CD I-NP *
tons NNS I-NP *
annually RB B-ADVP *
COMMA , O *
a DT B-NP *
drop NN I-NP *
in IN B-PP *
the DT B-NP *
40-million-ton-a-year JJ I-NP *
flat-rolled JJ I-NP *
steel NN I-NP *
bucket NN I-NP *S)
COMMA , O *
and CC O *
it PRP B-NP (S*
will MD B-VP *
be VB I-VP *
years NNS B-NP *
before IN B-PP (S*
such JJ B-NP (S*
plants NNS I-NP *
can MD B-VP *
compete VB I-VP *
in IN B-PP *
the DT B-NP *
high-profit JJ I-NP *
market NN I-NP *S)S)S)
. . O *S)

Still RB B-ADVP (S*
COMMA , O *
flat-rolled JJ O *
is VBZ B-VP *
the DT B-NP *
steel NN I-NP *
industry NN I-NP *
's POS B-NP *
bread NN I-NP *
and CC I-NP *
butter NN I-NP *
COMMA , O *
representing VBG B-VP (S*
about IN O *
half NN B-NP *
of IN B-PP *
the DT B-NP *
80 CD I-NP *
million CD I-NP *
tons NNS I-NP *
of IN B-PP *
steel NN B-NP *
expected VBN B-VP *
to TO I-VP *
be VB I-VP *
shipped VBN I-VP *
this DT B-NP *
year NN I-NP *S)
. . O *S)

Moreover RB B-ADVP (S*
COMMA , O *
the DT B-NP *
process NN I-NP *
is VBZ B-VP *
n't RB O *
without IN B-PP *
its PRP$ B-NP *
headaches NNS I-NP *
. . O *S)

Because IN B-SBAR (S(S*
all DT B-NP (S*
operations NNS I-NP *
are VBP B-VP *
connected VBN I-VP *S)S)
COMMA , O *
one CD B-NP *
equipment NN I-NP *
failure NN I-NP *
forces VBZ B-VP *
a DT B-NP *
complete JJ I-NP *
plant NN I-NP *
shutdown NN I-NP *
. . O *S)

On IN B-PP (S*
some DT B-NP *
days NNS I-NP *
COMMA , O *
the DT B-NP *
Nucor NNP I-NP *
plant NN I-NP *
does VBZ B-VP *
n't RB I-VP *
produce VB I-VP *
anything NN B-NP *
. . O *S)

`` `` O (S*
At IN B-PP (S(S*
this DT B-NP *
point NN I-NP *
COMMA , O *
the DT B-NP *
minimill NN I-NP *
capacity NN I-NP *
wo MD B-VP *
n't RB I-VP *
make VB I-VP *
a DT B-NP *
great JJ I-NP *
dent NN I-NP *
in IN B-PP *
the DT B-NP *
integrated VBN I-NP *
market NN I-NP *S)
COMMA , O *
but CC O *
it PRP B-NP (S*
does VBZ B-VP *
challenge NN B-NP *
them PRP B-NP *
to TO B-VP (S*
develop VB I-VP *
new JJ B-NP *
markets NNS I-NP *S)S)S)
COMMA , O *
'' '' O *
says VBZ B-VP *
James NNP B-NP *
McCall NNP I-NP *
COMMA , O *
vice NN B-NP *
president NN I-NP *
COMMA , O *
materials NNS B-NP *
COMMA , O *
at IN B-PP *
Battelle NNP B-NP *
COMMA , O *
a DT B-NP *
technology NN I-NP *
and CC I-NP *
management-research NN I-NP *
giant NN I-NP *
based VBN B-VP *
in IN B-PP *
Columbus NNP B-NP *
COMMA , O *
Ohio NNP B-NP *
. . O *S)

Indeed RB B-ADVP (S*
COMMA , O *
with IN B-PP *
demand NN B-NP (S*
for IN B-PP *
steel NN B-NP *
not RB O *
growing VBG O *
fast RB O *
enough RB O *
to TO B-VP (S*
absorb VB I-VP *
capacity NN B-NP *S)S)
COMMA , O *
steelmakers NNS B-NP *
will MD B-VP *
have VB I-VP *
to TO I-VP *
change VB I-VP *
the DT B-NP *
way NN I-NP *
they PRP B-NP (S(S*
do VBP B-VP *
business NN B-NP *S)S)
. . O *S)

In IN B-PP (S*
the DT B-NP *
past NN I-NP *
COMMA , O *
says VBZ B-VP (S*
Armco NNP B-NP *
's POS B-NP *
chief JJ I-NP *
economist NN I-NP *
John NNP I-NP *
Corey NNP I-NP *S)
COMMA , O *
steelmakers NNS B-NP *
made VBD B-VP *
a DT B-NP *
product NN I-NP *
and CC O *
set VBN B-VP *
it PRP B-NP *
out IN O *
on IN B-PP *
the DT B-NP *
loading NN I-NP *
dock NN I-NP *
. . O *S)

`` `` O (S*
We PRP B-NP (S*
said VBD B-VP *
: : O *
` `` O (S*
We PRP B-NP (S*
've VBP B-VP *
got VBD I-VP *
a DT B-NP *
product NN I-NP *S)
: : O *
if IN B-SBAR (S(S*
you PRP B-NP (S*
want VBP B-VP *
it PRP B-NP *S)S)
COMMA , O *
you PRP B-NP *
can MD B-VP *
buy VB I-VP *
it PRP B-NP *S)S)S)
COMMA , O *
' '' O *
'' '' O *
he PRP B-NP *
says VBZ B-VP *
COMMA , O *
adding VBG B-VP (S*
: : O *
`` `` O (S*
Now RB B-ADVP *
we PRP B-NP *
're VBP B-VP *
figuring VBG I-VP *
out RP B-PRT *
what WP B-NP (S*
people NNS B-NP (S*
need VBP B-VP *S)S)
COMMA , O *
and CC O *
are VBP B-VP *
going VBG I-VP *
back RB B-ADVP *
to TO O (S*
make VB O *
it PRP B-NP *S)S)S)
. . O *
'' '' O *S)

Armco NNP B-NP (S*
's POS B-NP *
sales NNS I-NP *
representatives NNS I-NP *
visit VBP B-VP *
the DT B-NP *
General NNP I-NP *
Motors NNPS I-NP *
Corp. NNP I-NP *
's POS B-NP *
Fairfax NNP I-NP *
assembly NN I-NP *
plant NN I-NP *
in IN B-PP *
Kansas NNP B-NP *
City NNP I-NP *
COMMA , O *
Mo. NNP B-NP *
COMMA , O *
two CD B-NP *
or CC I-NP *
three CD I-NP *
days NNS I-NP *
a DT B-NP *
week NN I-NP *
. . O *S)

When WRB B-ADVP (S(S*
they PRP B-NP (S*
determined VBD B-VP *
that IN B-SBAR (S*
GM NNP B-NP (S*
needed VBD B-VP *
parts NNS B-NP *
more RBR B-ADVP *
quickly RB I-ADVP *S)S)S)S)
COMMA , O *
Armco NNP B-NP *
convinced VBD B-VP *
a DT B-NP (S*
steel NN I-NP *
service NN I-NP *
center NN I-NP *
to TO B-VP *
build VB I-VP *
a DT B-NP *
processing NN I-NP *
plant NN I-NP *
nearby JJ B-NP *
so RB O (S*
shipments NNS B-NP (S*
could MD B-VP *
be VB I-VP *
delivered VBN I-VP *
within IN B-PP *
15 CD B-NP *
minutes NNS I-NP *S)S)S)
. . O *S)

Cementing VBG B-VP (S(S*
such JJ B-NP *
relationships NNS I-NP *
with IN B-PP *
major JJ B-NP *
clients NNS I-NP *
-- : O *
car NN B-NP *
and CC I-NP *
appliance NN I-NP *
makers NNS I-NP *
-- : O *S)
is VBZ B-VP *
a DT B-NP *
means NNS I-NP *
of IN B-PP *
survival NN B-NP *
COMMA , O *
especially RB B-ADVP (S*
when WRB B-ADVP *
those DT B-NP (S*
key JJ I-NP *
clients NNS I-NP *
are VBP B-VP *
relying VBG I-VP *
on IN B-PP *
a DT B-NP *
smaller JJR I-NP *
pool NN I-NP *
of IN B-PP *
producers NNS O *
and CC O *
flirting VBG O *
with IN B-PP *
plastic NN B-NP *
and CC I-NP *
aluminum NN I-NP *
makers NNS I-NP *S)S)
. . O *S)

For IN B-PP (S*
example NN B-NP *
COMMA , O *
when WRB B-ADVP (S*
Detroit NNP B-NP (S*
began VBD B-VP *
talking VBG I-VP *
about IN B-PP *
plastic-bodied JJ B-NP *
cars NNS I-NP *S)S)
COMMA , O *
the DT B-NP *
American NNP I-NP *
Iron NNP I-NP *
and CC I-NP *
Steel NNP I-NP *
Institute NNP I-NP *
began VBD B-VP *
a DT B-NP *
major JJ I-NP *
lobbying NN I-NP *
effort NN I-NP *
to TO B-VP (S*
show VB I-VP *
auto NN B-NP *
makers NNS I-NP *
how WRB B-ADVP (S*
they PRP B-NP (S*
could MD B-VP *
use VB I-VP *
steel NN B-NP *
more RBR B-ADVP *
efficiently RB I-ADVP *
by IN B-PP *
simply RB O (S*
redesigning VBG B-VP *
how WRB B-ADVP (S*
a DT B-NP (S*
car NN I-NP *
door NN I-NP *
is VBZ B-VP *
assembled VBN I-VP *S)S)S)S)S)S)
. . O *S)

But CC O (S*
steelmakers NNS B-NP *
must MD B-VP *
also RB I-VP *
find VB I-VP *
new JJ B-NP *
markets NNS I-NP *
. . O *S)

After IN B-PP (S*
letting VBG B-VP (S*
aluminum-makers NNS B-NP (S*
take VBP B-VP *
the DT B-NP *
recycling NN I-NP *
lead NN I-NP *S)S)
COMMA , O *
a DT B-NP *
group NN I-NP *
of IN B-PP *
the DT B-NP *
nation NN I-NP *
's POS B-NP *
largest JJS I-NP *
steelmakers NNS I-NP *
started VBD B-VP *
a DT B-NP *
recycling NN I-NP *
institute NN I-NP *
to TO B-VP (S*
promote VB I-VP *
steel NN B-NP *
cans NNS I-NP *
to TO B-PP *
an DT B-NP *
environmentally RB I-NP *
conscious JJ I-NP *
nation NN I-NP *S)
. . O *S)

Battelle NNP B-NP (S*
's POS B-NP *
Mr. NNP I-NP *
McCall NNP I-NP *
thinks VBZ B-VP *
steelmakers NNS B-NP (S(S*
should MD B-VP *
concentrate VB I-VP *
more JJR O *
on IN B-PP *
construction NN B-NP *S)S)
. . O *S)

Weirton NNP B-NP (S*
Steel NNP I-NP *
Corp. NNP I-NP *
COMMA , O *
Weirton NNP B-NP *
COMMA , O *
W. NNP B-NP *
Va. NNP I-NP *
COMMA , O *
for IN B-PP *
example NN B-NP *
COMMA , O *
is VBZ B-VP *
touting VBG I-VP *
to TO O *
homeowners NNS O *
fashionable JJ B-NP *
steel NN I-NP *
doors NNS I-NP *
COMMA , O *
with IN B-PP *
leaded JJ B-NP *
glass NN I-NP *
inserts NNS I-NP *
COMMA , O *
as IN B-PP *
a DT B-NP *
secure JJ I-NP *
and CC I-NP *
energy-efficient JJ I-NP *
alternative NN I-NP *
to TO B-PP *
wooden JJ O *
or CC O *
aluminum NN B-NP *
ones NNS I-NP *
. . O *S)

Other JJ B-NP (S*
steelmakers NNS I-NP *
envision VBP B-VP *
steel NN B-NP (S*
roofs NNS I-NP *
covering VBG I-NP *
suburbia NN I-NP *S)
. . O *S)

Still JJ B-NP (S*
others NNS I-NP *
are VBP B-VP *
looking VBG I-VP *
at IN B-PP *
overseas JJ B-NP *
markets NNS I-NP *
. . O *S)

USX NNP B-NP (S*
is VBZ B-VP *
funneling VBG I-VP *
drilling NN B-NP *
pipe NN I-NP *
to TO B-PP *
steel-hungry JJ B-NP *
Soviet NNP I-NP *
Union NNP I-NP *
. . O *S)

This DT B-NP (S*
year NN I-NP *
COMMA , O *
the DT B-NP *
nation NN I-NP *
's POS B-NP *
largest JJS I-NP *
steelmaker NN I-NP *
reactivated VBD B-VP *
its PRP$ B-NP *
overseas JJ I-NP *
sales NNS I-NP *
operation NN I-NP *
. . O *S)

Producers NNS B-NP (S*
also RB B-ADVP *
are VBP O *
trying VBG O *
to TO O *
differentiate VB O *
by IN B-PP *
concentrating VBG B-VP (S*
on IN B-PP *
higher-profit JJR B-NP *
output NN I-NP *
COMMA , O *
such JJ B-PP *
as IN I-PP *
coated VBN B-VP *
and CC O *
electrogalvanized JJ B-NP *
products NNS I-NP *
COMMA , O *
which WDT B-NP (S*
remain VBP B-VP (S*
beyond IN B-PP *
the DT B-NP *
reach NN I-NP *
of IN B-PP *
minimills NNS B-NP *S)S)S)
. . O *S)

Almost RB O (S*
all DT B-NP *
capital-improvement NN I-NP *
programs NNS I-NP *
announced VBN B-VP *
by IN B-PP *
major JJ B-NP *
steelmakers NNS I-NP *
within IN B-PP *
the DT B-NP *
past JJ I-NP *
year NN I-NP *
involve VB B-VP *
building NN O *
electrogalvanizing VBG O *
lines NNS B-NP *
COMMA , O *
used VBN B-VP *
to TO I-VP (S*
produce VB I-VP *
steel NN B-NP *
for IN B-PP *
such JJ B-NP *
products NNS I-NP *
as IN B-PP *
household NN B-NP *
appliances NNS I-NP *
and CC O *
car NN B-NP *
doors NNS I-NP *S)
. . O *S)

But CC O (S*
unfortunately RB B-ADVP *
COMMA , O *
that DT B-NP *
segment NN I-NP *
is VBZ B-VP *
much RB B-ADJP *
smaller JJR I-ADJP *
than IN B-PP *
the DT B-NP *
bread-and-butter JJ I-NP *
flat-rolled JJ I-NP *
steel NN I-NP *
. . O *S)

`` `` O (S*
It PRP B-NP (S*
's VBZ B-VP *
like IN B-PP *
everyone NN B-NP (S*
climbing VBG B-VP *
out IN B-ADVP *
of IN B-PP *
the DT B-NP *
QE NNP I-NP *
II NNP I-NP *
and CC O *
getting VBG B-VP *
into IN B-PP *
a DT B-NP *
lifeboat NN I-NP *S)S)
COMMA , O *
'' '' O *
says VBZ B-VP *
John NNP B-NP *
Jacobson NNP I-NP *
COMMA , O *
an DT B-NP *
analyst NN I-NP *
with IN B-PP *
AUS NNP B-NP *
Consultants NNP I-NP *
. . O *S)

`` `` O (S*
After IN B-PP *
a DT B-NP *
while NN I-NP *
COMMA , O *
someone NN B-NP *
has VBZ B-VP *
to TO I-VP *
go VB I-VP *
over IN B-PRT *
the DT B-NP *
side NN I-NP *
. . O *
'' '' O *S)

Although IN B-SBAR (S(S*
he PRP B-NP (S*
does VBZ B-VP *
n't RB I-VP *
expect VB I-VP *
any DT B-NP *
bankruptcies NNS I-NP *S)S)
COMMA , O *
he PRP B-NP *
does VBZ B-VP *
see VB I-VP *
more JJR B-NP (S*
plants NNS I-NP *
being VBG B-VP *
sold VBN I-VP *
or CC O *
closed VBD B-VP *S)
. . O *S)

Robert NNP B-NP (S*
Crandall NNP I-NP *
COMMA , O *
with IN B-PP *
the DT B-NP *
Brookings NNP I-NP *
Institute NNP I-NP *
COMMA , O *
agrees VBZ B-VP *
. . O *S)

`` `` O (S*
Unless IN B-SBAR (S*
there EX B-NP (S*
is VBZ B-VP *
an DT B-NP *
enormous JJ I-NP *
rate NN I-NP *
of IN B-PP *
economic JJ B-NP *
growth NN I-NP *
or CC O *
a DT B-NP *
further JJ I-NP *
drop NN I-NP *
in IN B-PP *
the DT B-NP *
dollar NN I-NP *S)S)
COMMA , O *
it PRP B-NP *
's VBZ B-VP *
unlikely JJ B-ADJP *
that DT B-NP (S*
consumption NN I-NP (S*
of IN B-PP *
U.S. NNP B-NP *
produced VBD B-VP *
steel NN B-NP *
will MD B-VP *
grow VB I-VP *
sufficiently RB B-ADVP *
to TO B-VP (S*
offset VB I-VP *
the DT B-NP *
growth NN I-NP *
of IN B-PP *
minimills NNS B-NP *S)S)S)
. . O *
'' '' O *S)

Not RB B-ADVP *
to TO B-VP *
mention VB I-VP *
the DT B-NP *
incursion NN I-NP *
of IN B-PP *
imports NNS B-NP *
. . O *

Japanese JJ B-NP (S*
and CC I-NP *
European JJ I-NP *
steelmakers NNS I-NP *
COMMA , O *
which WDT B-NP (S*
have VBP B-VP (S*
led VBN I-VP *
the DT B-NP *
recent JJ I-NP *
technology NN I-NP *
developments NNS I-NP *S)S)
COMMA , O *
are VBP B-VP *
anxiously RB I-VP *
awaiting VBG I-VP *
the DT B-NP *
lifting NN I-NP *
of IN B-PP *
trade NN B-NP *
restraints NNS I-NP *
in IN B-PP *
1992 CD B-NP *
. . O *S)

Moreover RB B-ADVP (S*
COMMA , O *
the DT B-NP *
U.S. NNP I-NP *
can MD B-VP *
expect VB I-VP *
more JJR B-NP *
competition NN I-NP *
from IN B-PP *
low-cost JJ B-NP *
producing NN I-NP *
Pacific NNP I-NP *
Rim NNP I-NP *
and CC O *
Latin NNP O *
American JJ O *
countries NNS O *
. . O *S)

A DT B-NP (S*
Taiwanese JJ I-NP *
steelmaker NN I-NP *
recently RB B-ADVP *
announced VBD B-VP *
plans NNS B-NP *
to TO B-VP (S*
build VB I-VP *
a DT B-NP *
Nucor-like JJ I-NP *
plant NN I-NP *S)
. . O *S)

`` `` O (S*
People NNS B-NP (S*
think VBP B-VP *
of IN B-PP *
the DT B-NP *
steel NN I-NP *
business NN I-NP *
as IN B-PP *
an DT B-NP *
old JJ I-NP *
and CC I-NP *
mundane JJ I-NP *
smokestack NN I-NP *
business NN I-NP *S)
COMMA , O *
'' '' O *
says VBZ B-VP *
Mr. NNP B-NP *
Iverson NNP I-NP *
. . O *S)

`` `` O (S*
They PRP B-NP *
're VBP B-VP *
dead JJ B-NP *
wrong NN I-NP *
. . O *
'' '' O *S)

\* SYM B-NP *
USX NNP I-NP *
COMMA , O *
LTV NNP B-NP *
COMMA , O *
Bethlehem NNP B-NP *
COMMA , O *
Inland NNP B-NP *
COMMA , O *
Armco NNP B-NP *
COMMA , O *
National NNP B-NP *
Steel NNP I-NP *

\*\* SYM B-NP *
Projected VBN O *

Polaroid NNP B-NP (S*
Corp. NNP I-NP *
's POS B-NP *
patent-infringement NN I-NP *
damages NNS I-NP *
case NN I-NP *
against IN B-PP *
Eastman NNP B-NP *
Kodak NNP I-NP *
Co. NNP I-NP *
COMMA , O *
one CD B-NP *
of IN B-PP *
the DT O *
highest JJS O *
stakes VBZ B-VP *
corporate JJ B-NP *
trials NNS I-NP *
ever RB B-ADVP *
COMMA , O *
is VBZ B-VP *
getting VBG I-VP *
scant JJ B-NP *
attention NN I-NP *
on IN B-PP *
Wall NNP B-NP *
Street NNP I-NP *
. . O *S)

After IN B-PP (S*
78 CD B-NP *
days NNS I-NP *
of IN B-PP *
mind-numbing JJ B-NP *
testimony NN I-NP *
in IN B-PP *
federal JJ B-NP *
court NN I-NP *
in IN B-PP *
Boston NNP B-NP *
COMMA , O *
the DT B-NP *
trial NN I-NP *
is VBZ B-VP *
being VBG I-VP *
all DT O *
but CC O *
ignored VBN O *
by IN B-PP *
analysts NNS B-NP *
and CC O *
patent NN B-NP *
attorneys NNS I-NP *
. . O *S)

Most JJS B-NP (S*
have VBP B-VP *
read VBN I-VP *
the DT B-NP *
pre-trial JJ I-NP *
documents NNS I-NP *
COMMA , O *
however RB B-ADVP *
COMMA , O *
and CC O *
estimate NN B-NP *
Kodak NNP I-NP (S(S*
will MD B-VP *
be VB I-VP *
ordered VBN I-VP *
to TO I-VP *
pay VB I-VP *
$ $ B-NP *
1 CD I-NP *
billion CD I-NP *
to TO B-PP *
$ $ B-NP *
1.5 CD I-NP *
billion CD I-NP *
for IN B-PP *
infringing VBG B-VP (S*
on IN B-PP *
seven CD B-NP *
Polaroid NNP I-NP *
patents NNS I-NP *S)S)S)
. . O *S)

That DT B-NP (S(S*
may MD B-VP *
be VB I-VP *
the DT B-NP *
largest JJS I-NP *
patent NN I-NP *
award NN I-NP *
ever RB B-ADVP *S)
COMMA , O *
but CC O *
it PRP B-NP (S*
is VBZ O *
well RB O *
below IN B-PP *
the DT B-NP *
$ $ I-NP *
12 CD I-NP *
billion CD I-NP *
Polaroid NNP B-NP (S(S*
seeks VBZ B-VP *S)S)S)
. . O *S)

The DT B-NP (S*
highest JJS I-NP *
patent NN I-NP *
damage NN I-NP *
award NN I-NP *
to TO O *
date VB O *
was VBD B-VP *
in IN B-PP *
1986 CD B-NP *
COMMA , O *
when WRB B-ADVP (S*
Smith NNP B-NP (S*
International NNP I-NP *
Inc. NNP I-NP *
was VBD B-VP *
ordered VBN I-VP *
to TO I-VP *
pay VB I-VP *
$ $ B-NP *
205 CD I-NP *
million CD I-NP *
to TO B-PP *
Baker NNP B-NP *
Hughes NNP I-NP *
Inc. NNP I-NP *
for IN B-PP *
infringing VBG B-VP (S*
on IN B-PP *
a DT B-NP *
patent NN I-NP *
on IN B-PP *
an DT B-NP *
oil NN I-NP *
drilling NN I-NP *
bit NN I-NP *
seal NN I-NP *S)S)S)
. . O *S)

The DT B-NP (S*
two CD I-NP *
companies NNS I-NP *
later RB B-ADVP *
agreed VBD B-VP *
to TO I-VP *
settle VB I-VP *
for IN B-PP *
$ $ B-NP *
95 CD I-NP *
million CD I-NP *
. . O *S)

Few JJ B-NP (S*
analysts NNS I-NP *
think VBP B-VP *
it PRP B-NP (S(S*
is VBZ B-VP *
worth JJ B-ADJP *
their PRP$ B-NP *
time NN I-NP *
to TO B-VP (S*
slog VB I-VP *
through IN B-PP *
the DT B-NP *
Polaroid NNP I-NP *
trial NN I-NP *
testimony NN I-NP *S)S)S)
. . O *S)

`` `` O (S*
It PRP B-NP *
's VBZ B-VP *
like IN B-PP *
panning VBG B-VP (S*
for IN B-PP *
gold NN B-NP *
outside IN B-PP *
of IN B-PP *
Grand NNP B-NP *
Central NNP I-NP *
Station NNP I-NP *S)
. . O *S)

You PRP B-NP (S(S(S*
might MD B-VP *
find VB I-VP *
something NN B-NP *S)
COMMA , O *
but CC O *
the DT B-NP (S*
chances NNS I-NP *
are VBP B-VP *
low JJ B-ADJP *S)S)
COMMA , O *
'' '' O *
said VBD B-VP *
Michael NNP B-NP *
Ellman NNP I-NP *
COMMA , O *
an DT B-NP *
analyst NN I-NP *
at IN B-PP *
Wertheim NNP B-NP *
Schroder NNP I-NP *
& CC I-NP *
Co NNP I-NP *
. . O *S)

And CC O (S*
Eugene NNP B-NP *
Glazer NNP I-NP *
COMMA , O *
an DT B-NP *
analyst NN I-NP *
at IN B-PP *
Dean NNP B-NP *
Witter NNP I-NP *
Reynolds NNP I-NP *
Inc. NNP I-NP *
COMMA , O *
said VBD B-VP *
: : O *
`` `` O (S*
If IN B-SBAR (S*
you PRP B-NP (S*
hired VBD B-VP *
an DT B-NP *
attorney NN I-NP *
to TO B-VP (S(S*
be VB I-VP *
there EX B-NP *
all PDT B-NP *
the DT I-NP *
time NN I-NP *
and CC O *
give VB B-VP *
you PRP B-NP *
a DT B-NP *
( -LRB- I-NP *
prediction NN I-NP *
) -RRB- I-NP *
of IN B-PP *
the DT B-NP *
eventual JJ I-NP *
award NN I-NP *S)S)S)S)
COMMA , O *
I PRP B-NP *
would MD B-VP *
be VB I-VP *
willing JJ B-ADJP *
to TO B-VP (S*
bet VB I-VP *
that IN B-SBAR (S*
he PRP B-NP (S*
would MD B-VP *
be VB I-VP *
off IN B-PRT *
'' '' O *
by IN B-PP *
a DT B-NP *
lot NN I-NP *S)S)S)S)
. . O *S)

A DT B-NP (S*
75-day JJ I-NP *
trial NN I-NP *
in IN B-PP *
the DT B-NP *
early JJ I-NP *
1980s CD I-NP *
determined VBN B-VP *
that IN B-SBAR (S*
Kodak NNP B-NP (S*
COMMA , O *
based VBN B-VP *
in IN B-PP *
Rochester NNP B-NP *
COMMA , O *
N.Y. NNP B-NP *
COMMA , O *
infringed VBD B-VP *
on IN B-PP *
patents NNS B-NP *
of IN B-PP *
Polaroid NNP B-NP *
COMMA , O *
of IN B-PP *
Cambridge NNP B-NP *
COMMA , O *
Mass NNP B-NP *S)S)
. . O *S)

The DT B-NP (S*
main JJ I-NP *
issues NNS I-NP *
remaining VBG B-VP *
are VBP B-VP *
how WRB B-ADVP (S(S*
to TO B-VP (S*
calculate VB I-VP *
damages NNS B-NP *S)S)
and CC O *
whether IN B-SBAR (S*
the DT B-NP (S*
infringement NN I-NP *
was VBD B-VP *
`` `` O *
willful JJ O *
and CC O *
deliberate JJ O *S)S)S)
. . O *
'' '' O *S)

If IN O (S(S*
so RB B-NP *S)
COMMA , O *
the DT B-NP *
damages NNS I-NP *
could MD B-VP *
be VB I-VP *
tripled VBN I-VP *
. . O *S)

Two CD B-NP (S*
analysts NNS I-NP *
who WP B-NP (S*
have VBP B-VP (S*
read VBN I-VP *
the DT B-NP *
transcripts NNS I-NP *S)S)
COMMA , O *
David NNP B-NP *
Nelson NNP I-NP *
of IN B-PP *
Shearson NNP B-NP *
Lehman NNP I-NP *
Hutton NNP I-NP *
Inc. NNP I-NP *
and CC O *
Calvert NNP B-NP *
D. NNP I-NP *
Crary NNP I-NP *
COMMA , O *
a DT B-NP *
litigation NN I-NP *
analyst NN I-NP *
at IN B-PP *
Labe NNP B-NP *
COMMA , I-NP *
Simpson NNP I-NP *
& CC I-NP *
Co. NNP I-NP *
COMMA , O *
think VBP O *
Judge NNP O (S(S*
A. NNP O *
David NNP O *
Mazzone NNP O *
will MD B-VP *
decide VB I-VP *
in IN B-PP *
Kodak NNP B-NP *
's POS B-NP *
favor NN I-NP *
on IN B-PP *
the DT B-NP *
`` `` I-NP *
willful JJ I-NP *
and CC I-NP *
deliberate JJ I-NP *
'' '' I-NP *
issue NN I-NP *S)S)
. . O *S)

Mr. NNP B-NP (S*
Crary NNP I-NP *
said VBD B-VP *
testimony NN B-NP (S(S*
by IN B-PP *
Kodak NNP B-NP *
's POS B-NP *
patent NN I-NP *
counsel NN I-NP *
COMMA , O *
Francis NNP B-NP *
T. NNP I-NP *
Carr NNP I-NP *
of IN B-PP *
Kenyon NNP B-NP *
& CC I-NP *
Kenyon NNP I-NP *
COMMA , O *
showed VBD B-VP *
that IN B-SBAR (S*
`` `` O (S*
he PRP B-NP *
worked VBD B-VP *
with IN B-PP *
Kodak NNP B-NP *
continuously RB B-ADVP *
from IN B-PP *
the DT B-NP *
outset NN I-NP *
of IN B-PP *
the DT B-NP *
project NN I-NP *
'' '' O *
in IN B-PP *
an DT B-NP *
effort NN I-NP *
to TO B-VP (S*
avoid VB I-VP *
infringement NN B-NP *S)S)S)S)S)
. . O *S)

`` `` O (S*
Carr NNP B-NP (S(S*
told VBD B-VP *
Kodak NNP B-NP *
on IN B-PP *
many JJ B-NP *
occasions NNS I-NP *
to TO B-VP (S*
avoid VB I-VP *
various JJ B-NP *
features NNS I-NP *
because IN B-PP *
of IN I-PP *
Polaroid NNP B-NP *
's POS B-NP *
patent NN I-NP *
positions NNS I-NP *S)S)
COMMA , O *
'' '' O *
and CC O *
Kodak NNP B-NP (S*
followed VBD B-VP *
his PRP$ B-NP *
advice NN I-NP *
in IN B-PP *
every DT B-NP *
instance NN I-NP *S)S)
COMMA , O *
Mr. NNP B-NP *
Crary NNP I-NP *
said VBD B-VP *
. . O *S)

But CC O (S*
Irving NNP B-NP *
Kayton NNP I-NP *
COMMA , O *
a DT B-NP *
patent NN I-NP *
expert NN I-NP *
at IN B-PP *
George NNP B-NP *
Mason NNP I-NP *
University NNP I-NP *
School NNP I-NP *
of IN B-PP *
Law NNP B-NP *
who WP B-NP (S*
is VBZ B-VP (S*
familiar JJ B-ADJP *
with IN B-PP *
the DT B-NP *
case NN I-NP *S)S)
COMMA , O *
said VBD B-VP *
the DT B-NP (S(S*
fact NN I-NP *
that IN B-SBAR (S*
seven CD B-NP (S*
patents NNS I-NP *
were VBD B-VP *
infringed VBN I-VP *S)S)
`` `` O *
suggests VBZ B-VP *
that DT B-NP (S(S*
infringement NN I-NP *
was VBD B-VP *
willful JJ B-ADJP *S)S)S)S)
. . O *S)

It PRP B-NP (S*
's VBZ B-VP *
difficult JJ B-ADJP *
to TO B-VP (S*
be VB I-VP *
that IN B-SBAR *
consistently RB O *
wrong JJ O *S)
. . O *
'' '' O *S)

Observers NNS B-NP (S*
also RB B-ADVP *
wonder VBP B-VP *
whether IN B-SBAR (S*
Judge NNP B-NP (S*
Mazzone NNP I-NP *
will MD B-VP *
use VB I-VP *
the DT B-NP *
lost-profits JJ I-NP *
method NN I-NP *
of IN B-PP *
determining VBG O (S*
damages NNS O *S)
COMMA , O *
which WDT B-NP (S*
Polaroid NNP B-NP (S*
favors VBZ B-VP *
because IN B-SBAR (S*
it PRP B-NP (S*
would MD B-VP *
result VB I-VP *
in IN B-PP *
a DT B-NP *
larger JJR I-NP *
award NN I-NP *S)S)S)S)
COMMA , O *
or CC O *
the DT B-NP *
reasonable JJ I-NP *
royalty NN I-NP *
method NN I-NP *S)S)
. . O *S)

Polaroid NN B-NP (S*
claims NNS I-NP *
it PRP B-NP (S(S*
could MD B-VP *
have VB I-VP *
manufactured VBN I-VP *
and CC O *
sold VBD O *
all PDT O *
the DT O *
instant NN O *
cameras NNS O *
and CC O *
film NN B-NP *
sold VBN B-VP *
by IN B-PP *
Kodak NNP B-NP *
if IN B-SBAR (S*
Kodak NNP B-NP (S*
had VBD B-VP *
n't RB I-VP *
entered VBN I-VP *
the DT B-NP *
market NN I-NP *S)S)S)S)
. . O *S)

Moreover RB B-ADVP (S*
COMMA , O *
Polaroid NNP B-NP *
contends VBZ B-VP *
it PRP B-NP (S(S*
could MD B-VP *
have VB I-VP *
sold VBN I-VP *
them PRP B-NP *
at IN B-PP *
a DT B-NP *
higher JJR I-NP *
price NN I-NP *
-- : O *
and CC O *
thus RB B-ADVP *
made VBN B-VP *
higher JJR B-NP *
profits NNS I-NP *
-- : O *
because IN B-SBAR (S*
it PRP B-NP (S*
would MD B-VP *
n't RB I-VP *
have VB I-VP *
been VBN I-VP *
forced VBN I-VP *
to TO I-VP *
match VB I-VP *
Kodak NNP B-NP *
's POS B-NP *
lower JJR I-NP *
prices NNS I-NP *S)S)S)S)
. . O *S)

Each DT B-NP (S*
side NN I-NP *
has VBZ B-VP *
called VBN I-VP *
a DT B-NP *
Harvard NNP I-NP *
Business NNP I-NP *
School NNP I-NP *
professor NN I-NP *
to TO B-VP (S(S*
testify VB I-VP *
on IN B-PP *
that DT B-NP *
issue NN I-NP *S)S)
. . O *S)

Kodak NNP B-NP (S(S*
hired VBD B-VP *
Robert NNP B-NP *
Buzzell NNP I-NP *S)
and CC I-NP *
Polaroid NNP I-NP (S*
brought VBD B-VP *
in IN B-PP *
Robert NNP B-NP *
J. NNP I-NP *
Dolan NNP I-NP *S)
. . O *S)

`` `` O (S*
There EX B-NP (S*
's VBZ B-VP *
nothing NN B-NP *
that WDT B-NP (S*
says VBZ B-VP (S*
that IN B-SBAR (S*
people NNS B-NP (S*
at IN B-PP *
Harvard NNP B-NP *
Business NNP I-NP *
school NN I-NP *
have VBP B-VP *
to TO I-VP *
agree VB I-VP *
with IN B-PP *
each DT B-NP *
other NN I-NP *S)S)S)S)S)
COMMA , O *
'' '' O *
said VBD B-VP *
Mr. NNP B-NP *
Buzzell NNP I-NP *
. . O *S)

Testimony NN B-NP (S*
is VBZ B-VP *
expected VBN I-VP *
to TO I-VP *
continue VB I-VP *
until IN B-PP *
early JJ B-NP *
December NNP I-NP *
. . O *S)

A DT B-NP (S*
decision NN I-NP *
is VBZ B-VP *
n't RB I-VP *
expected VBN I-VP *
until IN B-SBAR *
some DT B-NP *
time NN I-NP *
next JJ B-NP *
year NN I-NP *
. . O *S)

International NNP B-NP (S*
Business NNP I-NP *
Machines NNP I-NP *
Corp. NNP I-NP *
said VBD B-VP *
earnings NNS B-NP (S(S*
tumbled VBD B-VP *
30 CD B-NP *
% NN I-NP *
in IN B-PP *
the DT B-NP *
third JJ I-NP *
quarter NN I-NP *
COMMA , O *
even RB B-NP *
a DT I-NP *
bit NN I-NP *
further JJ O *
than IN B-SBAR *
expected VBN B-VP (S*S)
COMMA , O *
rendering VBG B-VP (S*
the DT B-NP *
outlook NN I-NP *
doubtful JJ B-ADJP *
for IN B-PP *
the DT B-NP *
next JJ I-NP *
few JJ I-NP *
quarters NNS I-NP *S)S)S)
. . O *S)

The DT B-NP (S*
main JJ I-NP *
reason NN I-NP *
was VBD B-VP *
a DT B-NP *
delay NN I-NP *
in IN B-PP *
shipment NN B-NP *
of IN B-PP *
new JJ B-NP *
high-end JJ I-NP *
disk NN I-NP *
drives NNS I-NP *
COMMA , O *
a DT B-NP *
business NN I-NP *
that IN B-NP (S*
accounts NNS B-VP (S*
for IN B-PP *
some DT B-NP *
10 CD I-NP *
% NN I-NP *
of IN B-PP *
IBM NNP B-NP *
's POS B-NP *
$ $ I-NP *
60 CD I-NP *
billion CD I-NP *
of IN B-PP *
annual JJ B-NP *
revenue NN I-NP *S)S)
. . O *S)

IBM NNP B-NP (S*
COMMA , O *
which WDT B-NP (S*
telegraphed VBD B-VP (S*
the DT B-NP *
poor JJ I-NP *
results NNS I-NP *
three CD B-NP *
weeks NNS I-NP *
ago RB B-ADVP *S)S)
COMMA , O *
also RB B-ADVP *
cited VBD B-VP *
an DT B-NP *
increase NN I-NP *
in IN B-PP *
its PRP$ B-NP *
leasing NN I-NP *
business NN I-NP *
COMMA , O *
which WDT B-NP (S*
tends VBZ B-VP (S*
to TO I-VP *
lock VB I-VP *
in IN B-PP *
business NN O *
long-term JJ O *
but CC O *
cut VB B-VP *
revenue NN B-NP *
in IN B-PP *
the DT B-NP *
near JJ I-NP *
term NN I-NP *S)S)
. . O *S)

In IN B-PP (S*
addition NN B-NP *
COMMA , O *
IBM NNP B-NP *
noted VBD B-VP *
that IN B-SBAR (S*
the DT B-NP (S*
stronger JJR I-NP *
dollar NN I-NP *
has VBZ B-VP *
cut VBN I-VP *
the DT B-NP *
value NN I-NP *
of IN B-PP *
overseas JJ B-NP *
revenue NN I-NP *
and CC I-NP *
earnings NNS I-NP *
when WRB B-ADVP (S*
they PRP B-NP (S*
are VBP B-VP *
translated VBN I-VP *
into IN B-PP *
dollars NNS B-NP *S)S)S)S)
. . O *S)

Earnings NNS B-NP (S*
fell VBD B-VP *
to TO B-PP *
$ $ B-NP *
877 CD I-NP *
million CD I-NP *
COMMA , O *
or CC O *
$ $ B-NP *
1.51 CD I-NP *
a DT B-NP *
share NN I-NP *
COMMA , O *
somewhat RB B-ADVP *
below IN B-PP *
securities NNS B-NP *
analysts NNS I-NP *
' POS O *
revised VBN O *
expectations NNS B-NP *
of IN B-PP *
around IN B-NP *
$ $ I-NP *
1.60 CD I-NP *
a DT B-NP *
share NN I-NP *
. . O *S)

That DT B-NP (S*
compared VBN B-VP *
with IN B-PP *
the DT B-NP *
year-earlier JJ I-NP *
$ $ I-NP *
1.25 CD I-NP *
billion CD I-NP *
COMMA , O *
or CC O *
$ $ B-NP *
2.10 CD I-NP *
a DT B-NP *
share NN I-NP *
-- : O *
which WDT B-NP (S*
was VBD B-VP (S*
inflated JJ B-ADJP *
by IN B-PP *
a DT B-NP *
15-cents-a-share JJ I-NP *
gain NN I-NP *
from IN B-PP *
the DT B-NP *
sale NN I-NP *
of IN B-PP *
some DT B-NP *
MCI NNP I-NP *
Communications NNP I-NP *
Corp. NNP I-NP *
stock NN I-NP *
and CC B-PP *
by IN B-PP *
an DT B-NP *
unspecified JJ I-NP *
amount NN I-NP *
from IN B-PP *
a DT B-NP *
payment NN I-NP *
by IN B-PP *
Fujitsu NNP B-NP *
Ltd. NNP I-NP *
relating VBG B-VP *
to TO B-PP *
a DT B-NP *
software NN I-NP *
dispute NN I-NP *S)S)
. . O *S)

Revenue NN B-NP (S*
climbed VBD B-VP *
4.3 CD B-NP *
% NN I-NP *
to TO B-PP *
$ $ B-NP *
14.31 CD I-NP *
billion CD I-NP *
from IN B-PP *
$ $ B-NP *
13.71 CD I-NP *
billion CD I-NP *
. . O *S)

IBM NNP B-NP (S*
COMMA , O *
Armonk NNP B-NP *
COMMA , O *
N.Y. NNP B-NP *
COMMA , O *
remained VBD B-VP *
upbeat JJ B-ADJP *
. . O *S)

The DT B-NP (S*
computer NN I-NP *
giant NN I-NP *
COMMA , O *
whose WP$ B-NP (S*
U.S. NNP I-NP (S*
results NNS I-NP *
have VBP B-VP *
been VBN I-VP *
dismal JJ B-ADJP *
for IN B-PP *
years NNS B-NP *S)S)
COMMA , O *
noted VBD B-VP *
that DT O (S*
revenue NN O (S*
rose VBD B-VP *
again RB B-ADVP *
in IN B-PP *
the DT B-NP *
U.S. NNP I-NP *
in IN B-PP *
the DT B-NP *
third JJ I-NP *
quarter NN I-NP *
COMMA , O *
following VBG B-PP *
an DT B-NP *
increase NN I-NP *
in IN B-PP *
the DT B-NP *
second JJ I-NP *
period NN I-NP *S)S)
. . O *S)

The DT B-NP (S*
company NN I-NP *
said VBD B-VP *
in IN B-PP *
a DT B-NP *
statement NN I-NP *
that IN B-SBAR (S*
`` `` O (S*
demand NN B-NP *
for IN B-PP *
IBM NNP B-NP *
products NNS I-NP *
and CC I-NP *
services NNS I-NP *
continues VBZ B-VP *
to TO I-VP *
be VB I-VP *
good JJ O *
world-wide JJ O *S)S)
. . O *S)

We PRP B-NP (S*
do VBP B-VP *
not RB I-VP *
see VB I-VP *
anything NN B-NP *
in IN B-PP *
the DT B-NP *
fundamentals NNS I-NP *
of IN B-PP *
our PRP$ B-NP *
business NN I-NP *
that WDT B-NP (S*
would MD B-VP (S*
cause VB I-VP *
us PRP B-NP (S*
to TO B-VP *
change VB I-VP *
our PRP$ B-NP *
strategy NN I-NP *
of IN B-PP *
investing VBG B-VP (S*
for IN B-PP *
profitable JJ B-NP *
growth NN I-NP *S)S)S)S)
. . O *
'' '' O *S)

Securities NNS B-NP (S*
analysts NNS I-NP *
COMMA , O *
however RB B-ADVP *
COMMA , O *
remained VBD B-VP *
downbeat JJ B-ADJP *
. . O *S)

`` `` O (S*
I PRP B-NP (S*
think VBP B-VP *
1990 CD B-NP (S(S*
will MD B-VP *
be VB I-VP *
another DT B-NP *
mediocre JJ I-NP *
year NN I-NP *S)S)S)
COMMA , O *
'' '' O *
said VBD B-VP *
Steve NNP B-NP *
Milunovich NNP I-NP *
of IN B-PP *
First NNP B-NP *
Boston NNP I-NP *
. . O *S)

Jay NNP B-NP (S*
Stevens NNP I-NP *
of IN B-PP *
Dean NNP B-NP *
Witter NNP I-NP *
actually RB B-ADVP *
cut VB B-VP *
his PRP$ B-NP *
per-share JJ I-NP *
earnings NNS I-NP *
estimate NN I-NP *
to TO B-PP *
$ $ B-NP *
9 CD I-NP *
from IN B-PP *
$ $ B-NP *
9.50 CD I-NP *
for IN B-PP *
1989 CD O *
and CC O *
to TO B-PP *
$ $ B-NP *
9.50 CD I-NP *
from IN B-PP *
$ $ B-NP *
10.35 CD I-NP *
in IN B-PP *
1990 CD B-NP *
because IN B-SBAR (S*
he PRP B-NP (S*
decided VBD B-VP *
sales NNS B-NP (S(S*
would MD B-VP *
be VB I-VP *
even RB B-ADJP *
weaker JJR I-ADJP *
than IN B-SBAR (S*
he PRP B-NP (S*
had VBD B-VP *
expected VBN I-VP *S)S)S)S)S)S)
. . O *S)

Both DT B-NP (S*
estimates NNS I-NP *
would MD B-VP *
mark VB I-VP *
declines NNS B-NP *
from IN B-PP *
the DT B-NP *
1988 CD I-NP *
net NN I-NP *
of IN B-PP *
$ $ B-NP *
5.81 CD I-NP *
billion CD I-NP *
COMMA , O *
or CC O *
$ $ B-NP *
9.80 CD I-NP *
a DT B-NP *
share NN I-NP *
COMMA , O *
which WDT B-NP (S*
itself PRP B-NP (S*
was VBD B-VP *
well RB O *
below IN O *
the DT B-NP *
record NN I-NP *
IBM NNP B-NP (S(S*
set VBD B-VP *
in IN B-PP *
1984 CD B-NP *S)S)S)S)
. . O *S)

Mr. NNP B-NP (S*
Stevens NNP I-NP *
said VBD B-VP *
he PRP B-NP (S(S*
kept VBD B-VP *
a DT B-NP *
`` `` I-NP *
buy\/hold NN I-NP *
'' '' I-NP *
recommendation NN I-NP *
on IN B-PP *
the DT B-NP *
stock NN I-NP *
only RB B-ADVP (S*
because IN O *
`` `` O *
all PDT B-NP (S*
the DT I-NP *
damage NN I-NP *
has VBZ B-VP *
been VBN I-VP *
done VBN I-VP *S)S)S)S)
. . O *
'' '' O *S)

He PRP B-NP (S*
said VBD B-VP *
the DT B-NP (S(S*
stock NN I-NP *
has VBZ B-VP *
n't RB I-VP *
traded VBN I-VP *
below IN B-PP *
1 CD B-NP *
1\/2 CD I-NP *
times NNS I-NP *
book NN I-NP *
value NN I-NP *
over IN B-PP *
the DT B-NP *
past JJ I-NP *
10 CD I-NP *
years NNS I-NP *
COMMA , O *
which WDT B-NP (S*
at IN B-PP (S*
the DT B-NP *
moment NN I-NP *
computes VBZ B-VP *
to TO B-PP *
a DT B-NP *
stock NN I-NP *
price NN I-NP *
of IN B-PP *
$ $ B-NP *
100 CD I-NP *S)S)S)S)
. . O *S)

The DT B-NP (S*
stock NN I-NP *
closed VBD B-VP *
yesterday NN B-NP *
at IN B-PP *
$ $ B-NP *
103 CD I-NP *
a DT B-NP *
share NN I-NP *
COMMA , O *
up IN B-ADVP *
just RB B-NP *
$ $ I-NP *
1 CD I-NP *
in IN B-PP *
composite JJ B-NP *
trading NN I-NP *
on IN B-PP *
the DT B-NP *
New NNP I-NP *
York NNP I-NP *
Stock NNP I-NP *
Exchange NNP I-NP *
as IN B-PP (S*
the DT B-NP (S*
market NN I-NP *
surged VBD B-VP *S)S)
. . O *S)

Analysts NNS B-NP (S*
worry VBP B-VP *
that IN B-SBAR (S*
the DT B-NP (S*
disk-drive NN I-NP *
and CC I-NP *
leasing NN I-NP *
problems NNS I-NP *
will MD B-VP *
last VB I-VP *
at IN B-ADVP *
least JJS I-ADVP *
through IN B-PP *
the DT B-NP *
first JJ I-NP *
quarter NN I-NP *S)S)
. . O *S)

`` `` O (S*
A DT B-NP (S*
key JJ I-NP *
part NN I-NP *
of IN B-PP *
the DT B-NP *
question NN I-NP *
is VBZ B-VP *
COMMA , O *
how WRB B-ADVP (S(S*
soon RB B-ADVP *
does VBZ B-VP (S*
this DT B-NP *
disk-drive NN I-NP *
come VB O *S)S)
and CC O *
how WRB B-ADVP (S*
soon RB I-ADVP *
does VBZ B-VP (S*
production NN B-NP *
ramp NN I-NP *
up IN B-ADVP *S)S)S)S)
? . O *
'' '' O *
said VBD B-VP *
Steve NNP B-NP *
Cohen NNP I-NP *
at IN B-PP *
SoundView NNP B-NP *
Financial NNP I-NP *
Group NNP I-NP *
. . O *S)

`` `` O (S*
And CC O *
the DT B-NP *
input NN I-NP *
I PRP B-NP (S(S*
've VBP B-VP *
had VBD I-VP *
from IN B-PP *
customers NNS B-NP *S)S)
is VBZ B-VP *
that IN B-SBAR (S*
it PRP B-NP (S*
still RB B-ADVP *
could MD B-VP *
be VB I-VP *
a DT B-NP *
while NN I-NP *S)S)
. . O *
'' '' O *S)

On IN B-PP (S*
leasing NN B-NP *
COMMA , O *
Bob NNP B-NP *
Djurdjevic NNP I-NP *
at IN B-PP *
Annex NNP B-NP *
Research NNP I-NP *
said VBD B-VP *
he PRP B-NP (S(S*
thinks VBZ B-VP *
IBM NNP B-NP (S(S*
has VBZ B-VP *
hurt VBN I-VP *
itself PRP B-NP *
unnecessarily RB B-ADVP *S)S)S)S)
. . O *S)

He PRP B-NP (S*
said VBD B-VP *
IBM NNP B-NP (S(S*
has VBZ B-VP *
priced VBN I-VP *
its PRP$ B-NP *
leases NNS I-NP *
aggressively RB B-ADVP *
COMMA , O *
thinking VBG B-VP (S*
that WDT B-NP (S(S*
would MD B-VP *
help VB I-VP *
win VB I-VP *
business NN B-NP *S)S)S)S)S)
. . O *S)

But CC O (S*
he PRP B-NP *
said VBD B-VP *
IBM NNP B-NP (S(S*
would MD B-VP *
have VB I-VP *
won VBN I-VP *
the DT B-NP *
business NN I-NP *
anyway RB B-ADVP *
as IN B-PP *
a DT B-NP *
sale NN I-NP *
to TO B-PP *
a DT B-NP *
third JJ I-NP *
party NN I-NP *
that WDT B-NP (S*
would MD O (S*
have VB O *
then RB O *
leased VBN B-VP *
the DT B-NP *
equipment NN I-NP *
to TO B-PP *
the DT B-NP *
customer NN I-NP *S)S)S)S)
. . O *S)

He PRP B-NP (S*
said VBD B-VP *
IBM NNP B-NP (S(S*
has VBZ B-VP *
not RB I-VP *
only RB I-VP *
hurt VBN I-VP *
its PRP$ B-NP *
short-term JJ I-NP *
revenue NN I-NP *
outlook NN I-NP *
but CC O *
has VBZ B-VP *
also RB I-VP *
been VBN I-VP *
losing VBG I-VP *
money NN B-NP *
on IN B-PP *
its PRP$ B-NP *
leases NNS I-NP *S)S)
. . O *S)

Bob NNP B-NP (S*
Bardagy NNP I-NP *
COMMA , O *
executive JJ B-NP *
vice NN I-NP *
president NN I-NP *
of IN B-PP *
marketing NN B-NP *
at IN B-PP *
Comdisco NNP B-NP *
Inc. NNP I-NP *
COMMA , O *
a DT B-NP *
huge JJ I-NP *
leasing NN I-NP *
firm NN I-NP *
COMMA , O *
said VBD B-VP *
: : O *
`` `` O (S*
To TO B-VP (S*
put VB I-VP *
it PRP B-NP *
mildly RB B-ADVP *S)
COMMA , O *
IBM NNP B-NP *
Credit NNP I-NP *
has VBZ B-VP *
been VBN I-VP *
doing VBG I-VP *
some DT B-NP *
of IN B-PP *
the DT B-NP *
worst JJS I-NP *
economic JJ I-NP *
deals NNS I-NP *
of IN B-PP *
any DT B-NP *
leasing NN I-NP *
company NN I-NP *
we PRP B-NP (S(S*
have VBP B-VP *
ever RB I-VP *
seen VBN I-VP *S)S)S)
. . O *
'' '' O *S)

IBM NNP B-NP (S*
is VBZ B-VP *
expected VBN I-VP *
to TO I-VP *
get VB I-VP *
a DT B-NP *
boost NN I-NP *
soon RB B-ADVP *
when WRB B-ADVP (S*
it PRP B-NP (S*
announces VBZ B-VP *
some DT B-NP *
new JJ I-NP *
versions NNS I-NP *
of IN B-PP *
its PRP$ B-NP *
mainframes NNS I-NP *S)S)
. . O *S)

But CC O (S*
the DT B-NP *
basic JJ I-NP *
technology NN I-NP *
in IN B-PP *
the DT B-NP *
line NN I-NP *
is VBZ O *
almost RB O *
five CD O *
years NNS O *
old JJ B-ADJP *
COMMA , O *
which WDT B-NP (S*
means VBZ B-VP (S*
it PRP B-NP (S(S(S*
is VBZ B-VP *
long RB B-ADVP *
in IN B-PP *
the DT B-NP *
tooth NN I-NP *S)
COMMA , O *
and CC O *
competitors NNS B-NP (S*
are VBP B-VP *
rolling VBG I-VP *
out RP B-PRT *
strong JJ B-NP *
products NNS I-NP *
of IN B-PP *
their PRP$ B-NP *
own JJ I-NP *S)S)S)S)S)
. . O *S)

IBM NNP B-NP (S*
is VBZ B-VP *
gaining VBG I-VP *
momentum NN B-NP *
in IN B-PP *
the DT B-NP *
personal-computer NN I-NP *
market NN I-NP *
COMMA , O *
and CC O *
is VBZ B-VP *
expected VBN I-VP *
to TO I-VP *
introduce VB I-VP *
some DT B-NP *
impressive JJ I-NP *
workstations NNS I-NP *
early JJ B-NP *
next JJ I-NP *
year NN I-NP *
. . O *S)

But CC O (S*
it PRP B-NP (S*
's VBZ B-VP *
hard JJ B-ADJP *
to TO B-VP (S*
squeeze VB I-VP *
much JJ B-NP *
profit NN I-NP *
out IN B-PP *
of IN B-PP *
the DT B-NP *
personal-computer NN I-NP *
business NN I-NP *
these DT B-NP *
days NNS I-NP *S)S)
COMMA , O *
and CC O *
the DT B-NP (S*
workstation NN I-NP *
market NN I-NP *
COMMA , O *
while IN B-SBAR *
important JJ B-NP *
COMMA , O *
is VBZ B-VP *
too RB B-ADJP *
small JJ I-ADJP *
to TO B-VP (S*
rely VB I-VP *
on IN B-PP *
for IN B-PP *
much JJ B-NP *
growth NN I-NP *S)S)
. . O *S)

The DT B-NP (S*
disk NN I-NP *
drives NNS I-NP *
will MD B-VP *
doubtless RB I-VP *
sell VB I-VP *
well RB B-ADVP *
when WRB B-ADVP (S*
they PRP B-NP (S*
finally RB B-ADVP *
become VBP B-VP *
available JJ B-ADJP *S)S)
. . O *S)

But CC O (S(S*
the DT B-NP *
AS\/400 NNP I-NP *
COMMA , O *
IBM NNP B-NP *
's POS B-NP *
highly RB O *
successful JJ O *
minicomputer NN O *
line NN O *
COMMA , O *
is VBZ B-VP *
losing VBG I-VP *
its PRP$ B-NP *
momentum NN I-NP *S)
COMMA , O *
and CC O *
some DT B-NP (S*
analysts NNS I-NP *
said VBD B-VP *
sales NNS B-NP (S(S*
could MD B-VP *
even RB I-VP *
decline VB I-VP *
in IN B-PP *
the DT B-NP *
fourth JJ I-NP *
quarter NN I-NP *S)S)S)
. . O *S)

In IN B-PP (S*
addition NN B-NP *
COMMA , O *
IBM NNP B-NP *
's POS B-NP *
growth NN I-NP *
in IN B-PP *
software NN B-NP *
in IN B-PP *
the DT B-NP *
third JJ I-NP *
quarter NN I-NP *
was VBD B-VP *
just RB B-NP *
8.8 CD I-NP *
% NN I-NP *
COMMA , O *
well RB B-ADVP *
below IN B-PP *
historical JJ B-NP *
levels NNS I-NP *
even RB B-ADVP (S*
when WRB B-ADVP *
adjusted VBN B-VP (S*
to TO B-VP (S*
reflect VB I-VP *
last JJ B-NP *
year NN I-NP *
's POS B-NP *
payment NN I-NP *
from IN B-PP *
Fujitsu NNP B-NP *
and CC O *
the DT B-NP *
stronger JJR I-NP *
dollar NN I-NP *S)S)S)
. . O *S)

And CC O (S*
expenses NNS B-NP *
COMMA , O *
up IN B-ADVP *
7.9 CD B-NP *
% NN I-NP *
in IN B-PP *
the DT B-NP *
quarter NN I-NP *
COMMA , O *
have VBP B-VP *
stayed VBN I-VP *
stubbornly RB B-ADJP *
high JJ I-ADJP *
. . O *S)

In IN B-PP (S*
the DT B-NP *
nine CD I-NP *
months NNS I-NP *
COMMA , O *
IBM NNP B-NP *
earned VBD B-VP *
$ $ B-NP *
3.17 CD I-NP *
billion CD I-NP *
COMMA , O *
or CC O *
$ $ B-NP *
5.43 CD I-NP *
a DT B-NP *
share NN I-NP *
COMMA , O *
down RB B-ADVP *
8.4 CD B-NP *
% NN I-NP *
from IN B-PP *
the DT B-NP *
year-earlier JJ I-NP *
$ $ I-NP *
3.46 CD I-NP *
billion CD I-NP *
COMMA , O *
or CC O *
$ $ B-NP *
5.83 CD I-NP *
a DT B-NP *
share NN I-NP *
. . O *S)

Revenue NN B-NP (S*
increased VBN B-VP *
6.5 CD B-NP *
% NN I-NP *
to TO B-PP *
$ $ B-NP *
42.25 CD I-NP *
billion CD I-NP *
from IN B-PP *
$ $ B-NP *
39.68 CD I-NP *
billion CD I-NP *
. . O *S)

PepsiCo NNP B-NP (S*
Inc. NNP I-NP *
's POS B-NP *
chairman NN I-NP *
said VBD B-VP *
he PRP B-NP (S(S*
is VBZ B-VP *
`` `` O *
more JJR B-NP *
than IN B-PP *
comfortable JJ B-ADJP *
with IN B-PP *
'' '' O *
analysts NNS B-NP *
' POS B-NP *
estimates NNS I-NP *
that IN B-SBAR (S*
third-quarter JJ B-NP (S*
earnings NNS I-NP *
rose VBD B-VP *
to TO B-PP *
at IN B-NP *
least JJS I-NP *
98 CD I-NP *
cents NNS I-NP *
to TO B-PP *
$ $ B-NP *
1 CD I-NP *
a DT B-NP *
share NN I-NP *
from IN B-PP *
91 CD B-NP *
cents NNS I-NP *
the DT B-NP *
year NN I-NP *
earlier RBR B-ADVP *S)S)S)S)
. . O *S)

D. NNP B-NP (S*
Wayne NNP I-NP *
Calloway NNP I-NP *
COMMA , O *
also RB O *
chief JJ O *
executive JJ O *
officer NN O *
of IN B-PP *
the DT B-NP *
company NN I-NP *
COMMA , O *
indicated VBD B-VP *
that IN B-SBAR (S*
he PRP B-NP (S*
expects VBZ B-VP *
analysts NNS B-NP (S*
to TO B-VP *
raise VB I-VP *
their PRP$ B-NP *
forecasts NNS I-NP *
for IN B-PP *
1989 CD B-NP *
after IN B-PP (S*
the DT B-NP (S*
company NN I-NP *
releases NNS B-VP *
its PRP$ B-NP *
earnings NNS I-NP *
today NN I-NP *S)S)S)S)S)
. . O *S)

So RB B-ADVP (S*
far RB I-ADVP *
COMMA , O *
analysts NNS B-NP *
have VBP B-VP *
said VBD I-VP *
they PRP B-NP (S(S*
are VBP B-VP *
looking VBG I-VP *
for IN B-PP *
$ $ B-NP *
3.30 CD I-NP *
to TO I-NP *
$ $ I-NP *
3.35 CD I-NP *
a DT B-NP *
share NN I-NP *S)S)
. . O *S)

After IN B-PP (S*
today NN B-NP *
's POS B-NP *
announcement NN I-NP *
COMMA , O *
that DT B-NP *
range NN I-NP *
could MD B-VP *
increase VB I-VP *
to TO B-PP *
$ $ B-NP *
3.35 CD I-NP *
to TO I-NP *
$ $ I-NP *
3.40 CD I-NP *
a DT B-NP *
share NN I-NP *
. . O *S)

The DT B-NP (S*
official NN I-NP *
said VBD B-VP *
he PRP B-NP (S(S*
also RB B-ADVP *
would MD B-VP *
be VB I-VP *
comfortable JJ B-ADJP *
with IN B-PP *
that DT B-NP *
new JJ I-NP *
range NN I-NP *S)S)
. . O *S)

In IN B-PP (S*
1988 CD B-NP *
COMMA , O *
the DT B-NP *
soft-drink NN I-NP *
giant NN I-NP *
earned VBD B-VP *
$ $ B-NP *
2.90 CD I-NP *
a DT B-NP *
share NN I-NP *
. . O *S)

Results NNS B-NP (S*
for IN B-PP *
1989 CD B-NP *
will MD B-VP *
include VB I-VP *
about IN B-NP *
40 CD I-NP *
cents NNS I-NP *
a DT B-NP *
share NN I-NP *
from IN B-PP *
the DT B-NP *
dilutive JJ I-NP *
effects NNS I-NP *
of IN B-PP *
snack-food NN B-NP *
and CC O *
bottling NN B-NP *
company NN I-NP *
acquisitions NNS I-NP *
. . O *S)

In IN B-PP (S*
composite JJ B-NP *
trading NN I-NP *
on IN B-PP *
the DT B-NP *
New NNP I-NP *
York NNP I-NP *
Stock NNP I-NP *
Exchange NNP I-NP *
COMMA , O *
the DT B-NP *
company NN I-NP *
closed VBD B-VP *
yesterday NN B-NP *
at IN B-PP *
$ $ B-NP *
57.125 CD I-NP *
a DT B-NP *
share NN I-NP *
COMMA , O *
up IN B-ADVP *
$ $ B-NP *
3.125 CD I-NP *
. . O *S)

The DT B-NP (S*
company NN I-NP *
said VBD B-VP *
third-quarter JJ B-NP (S(S*
sales NNS I-NP *
are VBP B-VP *
expected VBN I-VP *
to TO I-VP *
increase VB I-VP *
25 CD B-NP *
% NN I-NP *
from IN B-PP *
$ $ B-NP *
3.12 CD I-NP *
billion CD I-NP *
of IN B-PP *
last JJ B-NP *
year NN I-NP *
's POS B-NP *
third JJ I-NP *
quarter NN I-NP *S)S)
. . O *S)

Domestic JJ B-NP (S*
soft-drink NN I-NP *
bottler NN I-NP *
case NN I-NP *
sales NNS I-NP *
are VBP B-VP *
estimated VBN I-VP *
to TO I-VP *
have VB I-VP *
risen VBN I-VP *
only RB B-NP *
1 CD I-NP *
% NN I-NP *
in IN B-PP *
the DT B-NP *
third JJ I-NP *
quarter NN I-NP *
-- : O *
well RB O *
below IN O *
the DT O *
4 CD O *
% NN O *
to TO O *
5 VB O *
% NN B-NP *
growth NN I-NP *
of IN B-PP *
recent JJ B-NP *
years NNS I-NP *
-- : O *
but CC O *
about IN O *
in IN B-PP *
line NN B-NP *
with IN B-PP *
the DT B-NP *
rest NN I-NP *
of IN B-PP *
the DT B-NP *
soft-drink NN I-NP *
industry NN I-NP *
. . O *S)

Mr. NNP B-NP (S*
Calloway NNP I-NP *
blamed VBD B-VP *
the DT B-NP *
slower JJR I-NP *
volume NN I-NP *
on IN B-PP *
rainier JJR B-NP *
weather NN I-NP *
COMMA , O *
a DT B-NP *
dearth NN I-NP *
of IN B-PP *
new JJ B-NP *
products NNS I-NP *
in IN B-PP *
the DT B-NP *
industry NN I-NP *
and CC O *
-- : O *
to TO B-PP *
a DT B-NP *
much RB I-NP *
lesser JJR I-NP *
extent NN I-NP *
-- : O *
pricing NN B-NP *
. . O *S)

PepsiCo NNP B-NP (S*
said VBD B-VP *
its PRP$ B-NP (S(S*
soft-drink NN I-NP *
prices NNS I-NP *
were VBD B-VP *
about IN B-NP *
2 CD I-NP *
% NN I-NP *
higher JJR B-ADVP *
in IN B-PP *
the DT B-NP *
quarter NN I-NP *S)S)
. . O *S)

Mr. NNP B-NP (S*
Calloway NNP I-NP *
also RB B-ADVP *
noted VBD B-VP *
that DT B-SBAR (S*
soft-drink NN B-NP (S*
volume NN I-NP *
rose VBD B-VP *
a DT B-NP *
hefty JJ I-NP *
9 CD I-NP *
% NN I-NP *
in IN B-PP *
last JJ B-NP *
year NN I-NP *
's POS B-NP *
third JJ I-NP *
quarter NN I-NP *
COMMA , O *
making VBG B-VP (S*
the DT B-NP *
comparison NN I-NP *
more RBR B-ADJP *
difficult JJ I-ADJP *S)S)S)
. . O *S)

International JJ B-NP (S*
soft-drink NN I-NP *
volume NN I-NP *
was VBD B-VP *
up IN B-ADVP *
about IN B-NP *
6 CD I-NP *
% NN I-NP *
. . O *S)

Snack-food NN B-NP (S(S*
tonnage NN I-NP *
increased VBD B-VP *
a DT B-NP *
strong JJ I-NP *
7 CD I-NP *
% NN I-NP *
in IN B-PP *
the DT B-NP *
third JJ I-NP *
quarter NN I-NP *
COMMA , O *
while IN B-SBAR (S*
domestic JJ B-NP (S*
profit NN I-NP *
increased VBN B-VP *
in IN B-PP *
double JJ B-NP *
digits NNS I-NP *S)S)S)
COMMA , O *
Mr. NNP B-NP *
Calloway NNP I-NP *
said VBD B-VP *
. . O *S)

Excluding VBG B-PP (S(S*
the DT B-NP *
British JJ I-NP *
snack-food NN I-NP *
business NN I-NP *
acquired VBN B-VP *
in IN B-PP *
July NNP B-NP *S)
COMMA , O *
snack-food NN B-NP *
international JJ I-NP *
tonnage NN I-NP *
jumped VBD B-VP *
40 CD B-NP *
% NN I-NP *
COMMA , O *
with IN B-PP (S*
sales NNS B-NP (S*
strong JJ O *
in IN B-PP *
Spain NNP B-NP *
COMMA , I-NP *
Mexico NNP I-NP *
and CC I-NP *
Brazil NNP I-NP *S)S)
. . O *S)

Total JJ B-NP (S*
snack-food NN I-NP *
profit NN I-NP *
rose VBD B-VP *
30 CD B-NP *
% NN I-NP *
. . O *S)

Led VBN B-VP (S(S*
by IN B-PP *
Pizza NNP B-NP *
Hut NNP I-NP *
and CC O *
Taco NNP B-NP *
Bell NNP I-NP *S)
COMMA , O *
restaurant NN B-NP *
earnings NNS I-NP *
increased VBN B-VP *
about IN B-NP *
25 CD I-NP *
% NN I-NP *
in IN B-PP *
the DT B-NP *
third JJ I-NP *
quarter NN I-NP *
on IN B-PP *
a DT B-NP *
22 CD I-NP *
% NN I-NP *
sales NNS I-NP *
increase NN I-NP *
. . O *S)

Same-store JJ B-NP (S*
sales NNS I-NP *
for IN B-PP *
Pizza NNP B-NP *
Hut NNP I-NP *
rose VBD B-VP *
about IN B-NP *
13 CD I-NP *
% NN I-NP *
COMMA , O *
while IN B-SBAR (S*
Taco NNP B-NP (S*
Bell NNP I-NP *
's POS B-NP *
increased VBN B-VP *
22 CD B-NP *
% NN I-NP *
COMMA , O *
as IN B-SBAR (S*
the DT B-NP (S*
chain NN I-NP *
continues VBZ B-VP *
to TO I-VP *
benefit VB I-VP *
from IN B-PP *
its PRP$ B-NP *
price-value JJ I-NP *
strategy NN I-NP *S)S)S)S)
. . O *S)

Taco NNP B-NP (S*
Bell NNP I-NP *
has VBZ B-VP *
turned VBN I-VP *
around IN B-PP *
declining VBG O *
customer NN B-NP *
counts NNS I-NP *
by IN B-PP *
permanently RB B-VP (S*
lowering VBG I-VP *
the DT B-NP *
price NN I-NP *
of IN B-PP *
its PRP$ B-NP *
tacos NNS I-NP *S)
. . O *S)

Same JJ B-NP (S*
store-sales NN I-NP *
for IN B-PP *
Kentucky NNP B-NP *
Fried NNP I-NP *
Chicken NNP I-NP *
COMMA , O *
which WDT B-NP (S*
has VBZ B-VP (S*
struggled VBN I-VP *
with IN B-PP *
increased VBN B-NP *
competition NN I-NP *
in IN B-PP *
the DT B-NP *
fast-food NN I-NP *
chicken NN I-NP *
market NN I-NP *
and CC O *
a DT B-NP *
lack NN I-NP *
of IN B-PP *
new JJ B-NP *
products NNS I-NP *S)S)
COMMA , O *
rose VBD B-VP *
only RB B-NP *
1 CD I-NP *
% NN I-NP *
. . O *S)

The DT B-NP (S*
operation NN I-NP *
COMMA , O *
which WDT B-NP (S*
has VBZ B-VP (S*
been VBN I-VP *
slow JJ B-ADJP *
to TO B-VP (S*
respond VB I-VP *
to TO B-PP *
consumers NNS B-NP *
' POS O *
shifting VBG O *
tastes NNS B-NP *
away RB B-ADVP *
from IN B-PP *
fried JJ B-NP *
foods NNS I-NP *S)S)S)
COMMA , O *
has VBZ B-VP *
been VBN I-VP *
developing VBG I-VP *
a DT B-NP *
grilled-chicken JJ I-NP *
product NN I-NP *
that WDT B-NP (S*
may MD B-VP (S*
be VB I-VP *
introduced VBN I-VP *
nationally RB B-ADVP *
at IN B-PP *
the DT B-NP *
end NN I-NP *
of IN B-PP *
next JJ B-NP *
year NN I-NP *S)S)
. . O *S)

The DT B-NP (S(S*
new JJ I-NP *
product NN I-NP *
has VBZ B-VP *
performed VBN I-VP *
well RB B-ADVP *
in IN B-PP *
a DT B-NP *
market NN I-NP *
test NN I-NP *
in IN B-PP *
Las NNP B-NP *
Vegas NNP I-NP *
COMMA , O *
Nev. NNP B-NP *S)
COMMA , O *
Mr. NNP B-NP *
Calloway NNP I-NP *
said VBD B-VP *
. . O *S)

After IN B-PP (S*
a DT B-NP *
four-year JJ I-NP *
COMMA , I-NP *
$ $ I-NP *
7.7 CD I-NP *
billion CD I-NP *
acquisition NN I-NP *
binge NN I-NP *
that WDT B-NP (S*
brought VBD B-VP (S*
a DT B-NP *
major JJ I-NP *
soft-drink NN I-NP *
company NN I-NP *
COMMA , O *
soda NN B-NP *
bottlers NNS I-NP *
COMMA , O *
a DT B-NP *
fast-food NN I-NP *
chain NN I-NP *
and CC O *
an DT B-NP *
overseas JJ I-NP *
snack-food NN I-NP *
giant NN I-NP *
to TO B-PP *
Pepsi NNP B-NP *S)S)
COMMA , O *
Mr. NNP B-NP *
Calloway NNP I-NP *
said VBD B-VP *
he PRP B-NP (S(S*
does VBZ B-VP *
n't RB I-VP *
expect VB I-VP *
any DT B-NP *
major JJ I-NP *
acquisition NN I-NP *
in IN B-PP *
the DT O *
next JJ O *
year NN O *
or CC O *
so RB O *S)S)
. . O *S)

But CC O (S*
COMMA , O *
`` `` O *
You PRP B-NP (S*
never RB B-ADVP *
can MD B-VP *
tell VB I-VP *S)
COMMA , O *
'' '' O *
he PRP B-NP (S*
added VBD B-VP *S)
COMMA , O *
`` `` O *
you PRP B-NP (S*
have VBP B-VP *
to TO I-VP *
take VB I-VP *
advantage NN B-NP *
of IN B-PP *
opportunities NNS B-NP *S)
. . O *S)

President NNP B-NP (S*
Bush NNP I-NP *
chose VBD B-VP *
Martin NNP B-NP *
Allday NNP I-NP *
COMMA , O *
a DT B-NP *
longtime JJ I-NP *
friend NN I-NP *
from IN B-PP *
Texas NNP B-NP *
COMMA , O *
to TO B-VP (S*
be VB I-VP *
chairman NN B-NP *
of IN B-PP *
the DT B-NP *
Federal NNP I-NP *
Energy NNP I-NP *
Regulatory NNP I-NP *
Commission NNP I-NP *S)
. . O *S)

Mr. NNP B-NP (S*
Allday NNP I-NP *
would MD B-VP *
succeed VB I-VP *
Martha NNP B-NP *
Hesse NNP I-NP *
COMMA , O *
who WP B-NP (S*
is VBZ B-VP (S*
resigning VBG I-VP *S)S)
. . O *S)

The DT B-NP (S*
White NNP I-NP *
House NNP I-NP *
said VBD B-VP *
Ms. NNP B-NP (S(S*
Hesse NNP I-NP *
COMMA , O *
a DT B-NP *
Chicago NNP I-NP *
businesswoman NN I-NP *
who WP B-NP (S*
previously RB O (S*
held VBN O *
posts NNS O *
at IN B-PP *
the DT B-NP *
Energy NNP I-NP *
Department NNP I-NP *
and CC O *
FERC NNP B-NP *S)S)
COMMA , O *
is VBZ B-VP *
leaving VBG I-VP *
to TO I-VP (S*
become VB I-VP *
a DT B-NP *
vice NN I-NP *
president NN I-NP *
of IN B-PP *
First NNP B-NP *
Chicago NNP I-NP *
Corp NNP I-NP *S)S)S)
. . O *S)

Mr. NNP B-NP (S*
Allday NNP I-NP *
COMMA , O *
an DT B-NP *
attorney NN I-NP *
in IN B-PP *
Midland NNP B-NP *
COMMA , O *
Texas NNP B-NP *
COMMA , O *
has VBZ B-VP *
been VBN I-VP *
solicitor NN B-NP *
at IN B-PP *
the DT B-NP *
Interior NNP I-NP *
Department NNP I-NP *
. . O *S)

He PRP B-NP (S*
met VBD B-VP *
Mr. NNP B-NP *
Bush NNP I-NP *
in IN B-PP *
the DT B-NP *
1950s CD I-NP *
COMMA , O *
when WRB B-ADVP (S*
the DT B-NP (S(S*
president NN I-NP *
was VBD B-VP *
a DT B-NP *
young JJ I-NP *
oil NN I-NP *
man NN I-NP *
in IN B-PP *
Midland NNP B-NP *S)
and CC O *
Mr. NNP B-NP (S*
Allday NNP I-NP *
was VBD B-VP *
a DT B-NP *
lawyer NN I-NP *
for IN B-PP *
an DT B-NP *
oil NN I-NP *
firm NN I-NP *S)S)S)
. . O *S)

The DT B-NP (S*
FERC NNP I-NP *
is VBZ B-VP *
a DT B-NP *
five-member JJ I-NP *
commission NN I-NP *
that WDT B-NP (S*
regulates VBZ B-VP (S*
billions NNS B-NP *
of IN B-PP *
dollars NNS B-NP *
of IN B-PP *
interstate JJ B-NP *
wholesale JJ I-NP *
energy NN I-NP *
transactions NNS I-NP *S)S)
. . O *S)

Mr. NNP B-NP (S*
Allday NNP I-NP *
's POS B-NP *
appointment NN I-NP *
is VBZ B-VP *
subject NN B-ADJP *
to TO B-PP *
confirmation NN B-NP *
by IN B-PP *
the DT B-NP *
Senate NNP I-NP *
. . O *S)

Administration NN B-NP (S*
officials NNS I-NP *
said VBD B-VP *
a DT B-NP (S(S*
date NN I-NP *
for IN B-PP *
Ms. NNP B-NP *
Hesse NNP I-NP *
's POS B-NP *
departure NN I-NP *
has VBZ B-VP *
n't RB I-VP *
been VBN I-VP *
set VBN I-VP *S)S)
. . O *S)

CALIFORNIA NNP B-NP (S*
REAL JJ I-NP *
ESTATE NNP I-NP *
INVESTMENT NNP I-NP *
Corp. NNP I-NP *
said VBD B-VP *
its PRP$ B-NP (S(S*
directors NNS I-NP *
declared VBD B-VP *
a DT B-NP *
dividend NN I-NP *
of IN B-PP *
five CD B-NP *
cents NNS I-NP *
per IN B-PP *
Class NNP B-NP *
A DT B-NP *
common JJ I-NP *
stock NN I-NP *
payable JJ B-ADJP *
Nov. NNP B-NP *
6 CD I-NP *
to TO B-PP *
stock VB B-NP *
of IN B-PP *
record NN B-NP *
Oct. NNP B-NP *
16 CD I-NP *S)S)
. . O *S)

The DT B-NP (S*
dividend NN I-NP *
represents VBZ B-VP *
the DT B-NP *
balance NN I-NP *
of IN B-PP *
its PRP$ B-NP *
regular JJ I-NP *
quarterly JJ I-NP *
payout NN I-NP *
of IN B-PP *
10 CD B-NP *
cents NNS I-NP *
a DT B-NP *
share NN I-NP *
COMMA , O *
of IN B-PP (S*
which WDT B-NP *
half NN I-NP (S*
was VBD B-VP *
paid VBN I-VP *
July NNP B-NP *
17 CD I-NP *
in IN B-PP *
a DT B-NP *
final JJ I-NP *
distribution NN I-NP *
prior RB B-ADVP *
to TO B-PP *
its PRP$ B-NP *
merger NN I-NP *
with IN B-PP *
B.B. NNP B-NP *
Real NNP I-NP *
Estate NNP I-NP *
Investment NNP I-NP *
Corp. NNP I-NP *
COMMA , O *
also RB B-ADVP *
in IN B-PP *
July NNP B-NP *S)S)
. . O *S)

The DT B-NP (S*
company NN I-NP *
said VBD B-VP *
it PRP B-NP (S(S*
hopes VBZ B-VP *
to TO I-VP *
resume VB I-VP *
its PRP$ B-NP *
schedule NN I-NP *
of IN B-PP *
regular JJ B-NP *
quarterly JJ I-NP *
dividends NNS I-NP *
at IN B-PP *
the DT B-NP *
end NN I-NP *
of IN B-PP *
this DT B-NP *
year NN I-NP *S)S)
. . O *S)

Hydro-Quebec NNP B-NP (S*
said VBD B-VP *
it PRP B-NP (S(S*
notified VBD B-VP *
Central NNP B-NP *
Maine NNP I-NP *
Power NNP I-NP *
Co. NNP I-NP *
it PRP B-NP (S(S*
will MD B-VP *
cancel VB I-VP *
a DT B-NP *
$ $ I-NP *
4 CD I-NP *
billion CD I-NP *
contract NN I-NP *
to TO B-VP (S*
supply VB I-VP *
electricity NN B-NP *
to TO B-PP *
the DT B-NP *
Maine NNP I-NP *
utility NN I-NP *S)S)S)S)S)
. . O *S)

The DT B-NP (S*
provincially RB I-NP *
owned VBN I-NP *
utility NN I-NP *
said VBD B-VP *
it PRP B-NP (S(S*
is VBZ B-VP *
tearing VBG I-VP *
up IN B-PP *
the DT B-NP *
deal NN I-NP *
because IN B-SBAR (S*
`` `` O *
the DT B-NP (S*
contract NN I-NP *
's POS B-NP *
objectives NNS I-NP *
ca MD B-VP *
n't RB I-VP *
be VB I-VP *
fulfilled VBN I-VP *S)S)S)S)
. . O *
'' '' O *S)

Hydro-Quebec NNP B-NP (S*
said VBD B-VP *
Maine NNP B-NP (S(S*
regulators NNS B-NP *
' POS B-NP *
refusal NN I-NP *
to TO B-VP (S*
approve VB I-VP *
the DT B-NP *
contract NN I-NP *
earlier RBR B-NP *
this DT I-NP *
year NN I-NP *S)
halted VBD B-VP *
work NN B-NP *
on IN B-PP *
transmission NN B-NP *
lines NNS I-NP *
and CC O *
stopped VBD O *
negotiations NNS O *
for IN B-PP *
resale NN B-NP *
of IN B-PP *
electricity NN B-NP *
carried VBD B-VP *
through IN B-PP *
Maine NNP B-NP *
to TO B-PP *
other JJ B-NP *
utilities NNS I-NP *S)S)
. . O *S)

`` `` O (S*
It PRP B-NP (S*
would MD B-VP *
now RB I-VP *
be VB I-VP *
physically RB B-ADJP *
impossible JJ I-ADJP *
to TO B-VP (S*
begin VB I-VP *
deliveries NNS B-NP *
in IN B-PP *
1992 CD B-NP *S)S)
COMMA , O *
'' '' O *
a DT B-NP *
Hydro-Quebec NNP I-NP *
official NN I-NP *
said VBD B-VP *
. . O *S)

The DT B-NP (S*
contract NN I-NP *
was VBD B-VP *
to TO B-VP *
run VB I-VP *
from IN B-PP *
1992 CD B-NP *
to TO B-PP *
2020 CD B-NP *
. . O *S)

Under IN B-PP (S*
the DT B-NP *
contract NN I-NP *
Hydro-Quebec NNP B-NP *
was VBD B-VP *
to TO I-VP *
supply VB I-VP *
400 CD B-NP *
megawatts NNS I-NP *
of IN B-PP *
power NN B-NP *
to TO B-PP *
Central NNP B-NP *
Maine NNP I-NP *
Power NNP I-NP *
starting VBG B-VP (S*
in IN B-PP *
1992 CD B-NP *S)
COMMA , O *
600 CD B-NP *
megawatts NNS I-NP *
starting VBG B-VP (S*
in IN B-PP *
1995 CD B-NP *S)
and CC O *
900 CD B-NP *
megawatts NNS I-NP *
starting VBG B-VP (S*
in IN B-PP *S)S)

Hydro-Quebec NNP B-NP (S*
said VBD B-VP *
Maine NNP B-NP (S(S*
regulators NNS B-NP *
' POS B-NP *
refusal NN I-NP *
to TO B-VP (S*
approve VB I-VP *
the DT B-NP *
contract NN I-NP *S)
means VBZ B-VP *
Central NNP B-NP (S(S*
Maine NNP I-NP *
Power NNP I-NP *
has VBZ B-VP *
lost VBN I-VP *
its PRP$ B-NP *
place NN I-NP *
in IN B-PP *
line NN B-NP *S)S)S)S)
. . O *S)

`` `` O (S*
We PRP B-NP (S*
wo MD B-VP *
n't RB I-VP *
sign VB I-VP *
any DT B-NP *
new JJ I-NP *
contracts NNS I-NP *
{ -LRB- O *
with IN B-PP *
deliveries NNS B-NP *
} -RRB- O *
beginning VBG B-VP *
earlier RBR B-ADVP *
than IN B-PP *
2000 CD B-NP *S)
COMMA , O *
'' '' O *
the DT B-NP *
Hydro-Quebec NNP I-NP *
official NN I-NP *
said VBD B-VP *
. . O *S)

He PRP B-NP (S*
said VBD B-VP *
Hydro-Quebec NNP B-NP (S(S*
already RB B-ADVP *
has VBZ B-VP *
some DT B-NP *
`` `` I-NP *
customers NNS I-NP *
in IN B-PP *
mind NN B-NP *
'' '' O *
for IN B-PP *
the DT B-NP *
power NN I-NP *
that WDT B-NP (S*
was VBD B-VP (S*
to TO I-VP *
be VB I-VP *
delivered VBN I-VP *
to TO B-PP *
Maine NNP B-NP *S)S)S)S)
. . O *S)

`` `` O (S*
Nothing NN B-NP (S*
has VBZ B-VP *
happened VBN I-VP *
since IN B-SBAR (S*
we PRP B-NP (S*
signed VBD B-VP *
the DT B-NP *
contract NN I-NP *S)S)
to TO B-VP (S*
undermine VB I-VP *
our PRP$ B-NP *
conviction NN I-NP *
that IN B-SBAR (S*
Hydro-Quebec NNP B-NP (S*
was VBD B-VP *
the DT B-NP *
lowest-cost JJ I-NP *
COMMA , O *
most RBS O *
environmentally RB O *
acceptable JJ O *
choice NN O *
for IN B-PP *
meeting VBG B-VP (S*
a DT B-NP *
part NN I-NP *
of IN B-PP *
our PRP$ B-NP *
customers NNS I-NP *
' POS B-NP *
energy NN I-NP *
needs VBZ B-VP *
through IN B-PP *
the DT B-NP *
year NN I-NP *
2020 CD I-NP *S)S)S)S)S)
COMMA , O *
'' '' O *
said VBD B-VP *
Central NNP B-NP *
Maine NNP I-NP *
senior JJ I-NP *
vice NN I-NP *
president NNP I-NP *
Donald NNP I-NP *
F. NNP I-NP *
Kelly NNP I-NP *
. . O *S)

Central NNP B-NP (S*
Maine NNP I-NP *
said VBD B-VP *
it PRP B-NP (S(S*
is VBZ B-VP *
evaluating VBG I-VP *
`` `` O *
many JJ B-NP *
energy NN I-NP *
options NNS I-NP *
'' '' O *
to TO B-VP (S(S*
make VB I-VP *
up IN B-PRT *
for IN B-PP *
the DT B-NP *
lost VBN I-NP *
future NN I-NP *
power NN I-NP *S)S)
COMMA , O *
including VBG B-PP *
new JJ B-NP *
energy NN I-NP *
generation NN I-NP *
and CC O *
management NN B-NP *
proposals NNS I-NP *
from IN B-PP *
New NNP B-NP *
England NNP I-NP *
COMMA , O *
and CC O *
possibly RB O *
new JJ O *
Canadian JJ O *
purchases NNS O *S)S)
. . O *S)

CHICAGO NNP B-NP (S*
- : O *
Options NNPS B-NP *
traders NNS I-NP *
were VBD B-VP *
among IN B-PP *
the DT B-NP *
big JJ I-NP *
victims NNS I-NP *
of IN B-PP *
Friday NNP B-NP *
's POS B-NP *
plunging VBG I-NP *
stock NN I-NP *
market NN I-NP *
COMMA , O *
including VBG B-PP *
one CD B-NP *
small JJ I-NP *
firm NN I-NP *
that WDT B-NP (S*
required VBD B-VP (S*
an DT B-NP *
emergency NN I-NP *
$ $ I-NP *
50 CD I-NP *
million CD I-NP *
bailout NN I-NP *S)S)
. . O *S)

While IN B-SBAR (S(S(S*
Monday NNP B-NP (S*
's POS O *
rebounding VBG O *
markets NNS O *
helped VBD B-VP *
other JJ B-NP (S*
investors NNS I-NP *
recoup VB O *
losses NNS O *S)S)S)
COMMA , O *
many JJ B-NP *
options NNS I-NP *
customers NNS I-NP *
and CC O *
professional JJ B-NP *
traders NNS I-NP *
in IN B-PP *
stock-index NN B-NP *
options NNS I-NP *
and CC O *
the DT B-NP *
options NNS I-NP *
on IN B-PP *
takeover NN B-NP *
stocks NNS I-NP *
were VBD B-VP *
left VBN I-VP *
with IN B-PP *
multimillion-dollar JJ B-NP *
losses NNS I-NP *S)
COMMA , O *
traders NNS B-NP *
here RB B-ADVP *
and CC O *
in IN B-PP *
New NNP B-NP *
York NNP I-NP *
said VBD B-VP *
. . O *S)

Options NNS B-NP (S*
traders NNS I-NP *
were VBD B-VP *
hurt VBN I-VP *
worse JJR O *
than IN B-PP *
others NNS B-NP *
on IN B-PP *
Friday NNP B-NP *
because IN B-PP *
of IN I-PP *
the DT B-NP *
highly RB I-NP *
volatile JJ I-NP *
nature NN I-NP *
of IN B-PP *
options NNS B-NP *
COMMA , O *
which WDT B-NP (S*
often RB B-ADVP (S*
rise VBP O *
or CC O *
fall NN O *
in IN B-PP *
value NN B-NP *
several JJ I-NP *
times NNS I-NP *
the DT B-NP *
amount NN I-NP *
of IN B-PP *
the DT B-NP *
price NN I-NP *
change NN I-NP *
in IN B-PP *
the DT B-NP *
individual JJ I-NP *
stock NN I-NP *
or CC I-NP *
index NN I-NP *
of IN B-PP *
stocks NNS B-NP *
on IN B-PP (S*
which WDT B-NP *
they PRP B-NP (S*
are VBP B-VP *
based VBN I-VP *S)S)S)S)
. . O *S)

Thus RB B-ADVP (S*
COMMA , O *
options NNS B-NP *
traders NNS I-NP *
Friday NNP B-NP *
were VBD B-VP *
stuck VBN I-VP *
with IN B-PP *
losses NNS B-NP *
that IN B-NP (S*
also RB B-ADVP (S*
were VBD B-VP *
several JJ B-NP *
times NNS I-NP *
larger JJR B-ADJP *
than IN B-PP *
those DT B-NP *
suffered VBN B-VP *
by IN B-PP *
many JJ B-NP *
stock NN I-NP *
traders NNS I-NP *
in IN B-PP *
New NNP B-NP *
York NNP I-NP *S)S)
. . O *S)

Jeffrey NNP B-NP (S*
Miller NNP I-NP *
of IN B-PP *
Miller NNP B-NP *
Tabak NNP I-NP *
Hirsch NNP I-NP *
& CC I-NP *
Co. NNP I-NP *
said VBD B-VP *
that IN B-SBAR (S*
given VBN O (S*
the DT B-NP *
high JJ I-NP *
degree NN I-NP *
of IN B-PP *
leverage NN B-NP *
in IN B-PP *
the DT B-NP *
options NNS I-NP *
market NN I-NP *
COMMA , O *
it PRP B-NP *
is VBZ B-VP *
`` `` O *
very RB B-ADJP *
easy JJ I-ADJP *
for IN B-PP (S*
these DT B-NP (S*
guys NNS I-NP *
to TO B-VP *
get VB I-VP *
wiped VBD B-VP *
out RB B-PRT *S)S)S)S)
. . O *S)

That DT B-NP (S*
may MD B-VP *
just RB I-VP *
be VB I-VP *
the DT B-NP *
nature NN I-NP *
of IN B-PP *
these DT B-NP *
highly RB I-NP *
leveraged JJ I-NP *
little JJ I-NP *
creatures NNS I-NP *
. . O *
'' '' O *S)

An DT B-NP (S*
options NNS I-NP *
contract VBP B-VP *
gives VBZ B-VP *
the DT B-NP *
holder NN I-NP *
the DT B-NP *
right NN I-NP *
to TO B-VP (S*
buy VB I-VP *
( -LRB- I-VP *
call VB I-VP *
) -RRB- O *
or CC O *
sell VB O *
( -LRB- O *
put VB O *
) -RRB- B-PP *
a DT B-NP *
specific JJ I-NP *
amount NN I-NP *
of IN B-PP *
stock NN B-NP *
COMMA , O *
or CC O *
in IN B-PP *
this DT B-NP *
case NN I-NP *
the DT B-NP *
value NN I-NP *
of IN B-PP *
a DT B-NP *
stock NN I-NP *
index NN I-NP *
COMMA , O *
based VBN B-PP *
on IN B-PP *
a DT B-NP *
predetermined VBN I-NP *
price NN I-NP *
within IN B-PP *
a DT B-NP *
given VBN I-NP *
time NN I-NP *
period NN I-NP *S)
. . O *S)

Options NNS B-NP (S*
traders NNS I-NP *
who WP B-NP (S*
COMMA , O (S*
in IN B-PP *
return NN B-NP *
for IN B-PP *
a DT B-NP *
small JJ I-NP *
fee NN I-NP *
COMMA , O *
or CC O *
premium NN B-NP *
COMMA , O *
had VBD B-VP *
previously RB I-VP *
sold VBN I-VP *
put VB I-VP *
options NNS B-NP *
on IN B-PP *
stocks NNS B-NP *
or CC O *
stock NN O *
indexes NNS O *S)S)
were VBD B-VP *
forced VBN I-VP *
on IN B-PP *
Friday NNP B-NP *
to TO B-VP (S*
buy VB I-VP *
those DT B-NP *
contracts NNS I-NP *
back RB B-ADVP *
at IN B-PP *
the DT B-NP *
previously RB I-NP *
agreed VBN I-NP *
prices NNS I-NP *
COMMA , O *
which WDT B-NP (S*
were VBD B-VP (S*
substantially RB B-ADVP *
above IN B-PP *
those DT B-NP *
in NN B-PP *
the DT B-NP *
market NN I-NP *
as IN B-SBAR (S*
it PRP B-NP (S*
was VBD B-VP *
falling VBG I-VP *S)S)S)S)S)
. . O *S)

They PRP B-NP (S*
then RB B-ADVP *
had VBD B-VP *
no DT B-NP *
choice NN I-NP *
in IN B-PP *
many JJ B-NP *
cases NNS I-NP *
but CC O *
to TO B-VP (S*
sell VB I-VP *
the DT B-NP *
contracts NNS I-NP *
at IN B-PP *
prevailing VBG B-VP *
prices NNS B-NP *
-- : O *
in IN B-PP *
most RBS B-NP *
cases NNS I-NP *
at IN B-PP *
a DT B-NP *
substantial JJ I-NP *
loss NN I-NP *S)
. . O *S)

The DT B-NP (S*
latest JJS I-NP *
round NN I-NP *
of IN B-PP *
losses NNS B-NP *
is VBZ B-VP *
likely JJ B-ADJP *
to TO B-VP (S*
be VB I-VP *
a DT B-NP *
serious JJ I-NP *
blow NN I-NP *
to TO B-PP *
the DT B-NP *
Chicago NNP I-NP *
Board NNP I-NP *
Options NNP I-NP *
Exchange NNP I-NP *
COMMA , O *
which WDT B-NP (S*
has VBZ B-VP (S*
never RB I-VP *
fully RB I-VP *
recovered VBN I-VP *
from IN B-PP *
the DT B-NP *
aftershock NN I-NP *
of IN B-PP *
Black NNP B-NP *
Monday NNP I-NP *
COMMA , O *
when WRB B-ADVP (S*
investors NNS B-NP (S*
fled VBD B-VP *
the DT B-NP *
market NN I-NP *
because IN B-PP *
of IN I-PP *
huge JJ B-NP *
losses NNS I-NP *S)S)S)S)S)
. . O *S)

Making VBG O (S*
matters NNS O *
worse JJR B-ADVP *
was VBD B-VP *
the DT B-NP *
fact NN I-NP *
that IN B-SBAR (S*
late JJ B-NP (S*
Friday NNP I-NP *
afternoon NN I-NP *
the DT B-NP *
CBOE NNP I-NP *
halted VBD B-VP *
stock-index NN B-NP *
options NNS I-NP *
trading NN I-NP *
in IN B-PP *
step NN B-NP *
with IN B-PP *
the DT B-NP *
Chicago NNP I-NP *
Mercantile NNP I-NP *
Exchange NNP I-NP *
's POS B-NP *
halt NN I-NP *
in IN B-PP *
stock-index NN B-NP *
futures NNS I-NP *S)S)
. . O *S)

But CC O (S*
while IN B-PP (S*
the DT B-NP (S*
Merc NNP I-NP *
reopened VBD B-VP *
a DT B-NP *
half NN I-NP *
hour NN I-NP *
later RB B-ADVP *S)S)
COMMA , O *
the DT B-NP *
CBOE NNP I-NP *
remained VBD O *
closed VBN O *
COMMA , O *
leaving VBG B-VP (S*
many JJ B-NP *
options NNS I-NP *
traders NNS I-NP *
unable JJ B-ADJP *
to TO B-VP (S*
make VB I-VP *
trades NNS B-NP *
that WDT B-NP (S*
might MD B-VP (S*
have VB I-VP *
reduced VBN I-VP *
the DT B-NP *
losses NNS I-NP *S)S)S)S)
. . O *S)

CBOE NNP B-NP (S*
Chairman NNP I-NP *
Alger NNP I-NP *
`` `` I-NP *
Duke NNP I-NP *
'' '' I-NP *
Chapman NNP I-NP *
COMMA , O *
said VBD B-VP *
that IN B-SBAR (S*
COMMA , O *
unlike IN B-PP (S*
the DT B-NP *
futures NNS I-NP *
market NN I-NP *
COMMA , O *
the DT B-NP *
options NNS I-NP *
exchange VBP O *
has VBZ B-VP *
to TO I-VP *
open VB I-VP *
in IN B-PP *
a DT B-NP *
rotation NN I-NP *
that WDT B-NP (S*
allows VBZ B-VP (S*
each DT B-NP (S*
different JJ I-NP *
options NNS I-NP *
series NN I-NP *
to TO B-VP *
trade VB I-VP *S)S)S)S)S)
. . O *S)

Exchange NN B-NP (S(S*
officials NNS I-NP *
reasoned VBD B-VP *
that IN B-SBAR (S*
they PRP B-NP (S*
would MD B-VP *
n't RB I-VP *
have VB I-VP *
been VBN I-VP *
able JJ B-ADJP *
to TO B-VP (S*
make VB I-VP *
such JJ B-NP *
a DT I-NP *
rotation NN I-NP *
with IN B-PP *
the DT B-NP *
time NN I-NP *
remaining VBG B-VP *
Friday NNP B-NP *
afternoon NN I-NP *S)S)S)S)
COMMA , O *
and CC O *
with IN B-PP (S(S*
the DT B-NP (S*
stock-index NN I-NP *
futures NNS I-NP *
on IN B-PP *
the DT B-NP *
verge NN I-NP *
of IN B-PP *
closing VBG B-VP (S*
for IN B-PP *
a DT B-NP *
second JJ I-NP *
and CC I-NP *
final JJ I-NP *
time NN I-NP *S)S)S)
COMMA , O *
the DT B-NP *
CBOE NNP I-NP *
reasoned VBD B-VP *
that IN B-SBAR (S*
its PRP$ B-NP (S*
best JJS I-NP *
course NN I-NP *
was VBD B-VP *
to TO B-VP (S*
remain VB I-VP *
closed VBD B-VP *S)S)S)S)
. . O *S)

The DT B-NP (S*
damage NN I-NP *
was VBD B-VP *
so RB B-ADJP *
bad JJ I-ADJP *
at IN B-PP *
Fossett NNP B-NP *
Corp. NNP I-NP *
COMMA , O *
an DT B-NP *
options NNS I-NP *
trading NN I-NP *
firm NN I-NP *
here RB B-ADVP *
COMMA , O *
that IN B-SBAR (S*
it PRP B-NP (S*
was VBD B-VP *
forced VBN I-VP *
to TO I-VP *
transfer VB I-VP *
its PRP$ B-NP *
accounts NNS I-NP *
to TO B-PP *
First NNP B-NP *
Options NNPS I-NP *
of IN B-PP *
Chicago NNP B-NP *
COMMA , O *
a DT B-NP *
unit NN I-NP *
of IN B-PP *
Continental NNP B-NP *
Bank NNP I-NP *
Corp. NNP I-NP *
COMMA , O *
as IN B-PP *
a DT B-NP *
result NN I-NP *
of IN B-PP *
options NNS B-NP *
trading NN I-NP *
losses NNS I-NP *S)S)
. . O *S)

Fosset NNP B-NP (S*
so RB B-ADVP *
far RB I-ADVP *
is VBZ B-VP *
the DT B-NP *
only JJ I-NP *
member NN I-NP *
of IN B-PP *
a DT B-NP *
financial JJ I-NP *
exchange NN I-NP *
to TO B-VP (S(S*
be VB I-VP *
forced VBN I-VP *
to TO I-VP *
be VB I-VP *
taken VBN I-VP *
over IN B-PRT *
by IN B-PP *
another DT B-NP *
firm NN I-NP *
as IN B-PP *
a DT B-NP *
result NN I-NP *
of IN B-PP *
Friday NNP B-NP *
's POS B-NP *
rout NN I-NP *S)S)
. . O *S)

Fossett NNP B-NP (S(S*
still RB B-ADVP *
had VBD B-VP *
several JJ B-NP *
million CD I-NP *
dollars NNS I-NP *
in IN B-PP *
capital NN B-NP *
left VBN B-VP *
after IN B-PP *
Friday NNP B-NP *
's POS B-NP *
close NN I-NP *
of IN B-PP *
trading NN B-NP *
COMMA , O *
but CC O *
not RB B-ADVP *
enough RB I-ADVP *
that IN B-SBAR (S*
regulators NNS B-NP (S*
COMMA , O *
worried VBN B-VP *
about IN B-PP *
another DT B-NP *
potential JJ I-NP *
market NN I-NP *
plunge NN I-NP *
yesterday NN B-NP *
COMMA , O *
would MD B-VP *
let VB I-VP *
it PRP B-NP (S*
reopen VB B-VP *
for IN B-PP *
trading NN B-NP *S)S)S)S)
COMMA , O *
options NNS B-NP *
exchange VBP O *
officials NNS O *
said VBD B-VP *
. . O *S)

Thus RB B-ADVP (S*
COMMA , O *
in IN B-PP *
an DT B-NP *
unprecedented JJ I-NP *
arrangement NN I-NP *
underscoring VBG B-VP *
the DT B-NP *
seriousness NN I-NP *
of IN B-PP *
the DT B-NP *
transfer NN I-NP *
COMMA , O *
the DT B-NP *
CBOE NNP I-NP *
COMMA , O *
the DT B-NP *
American NNP I-NP *
Stock NNP I-NP *
Exchange NNP I-NP *
and CC O *
the DT B-NP *
Options NNP I-NP *
Clearing NNP I-NP *
Corp. NNP I-NP *
COMMA , O *
as RB B-CONJP *
well RB I-CONJP *
as IN I-CONJP *
the DT B-NP *
firm NN I-NP *
's POS B-NP *
owner NN I-NP *
COMMA , O *
Stephen NNP B-NP *
Fossett NNP I-NP *
COMMA , O *
put VB B-VP *
up IN B-PRT *
a DT B-NP *
total NN I-NP *
of IN B-PP *
$ $ B-NP *
50 CD I-NP *
million CD I-NP *
to TO B-VP (S*
guarantee VB I-VP *
the DT B-NP *
customer NN I-NP *
positions NNS I-NP *
being VBG B-VP *
transferred VBN I-VP *
to TO B-PP *
the DT B-NP *
bank NN I-NP *
holding VBG I-NP *
company NN I-NP *
subsidiary NN I-NP *
in IN B-PP (S*
case NN B-NP *
the DT B-NP (S*
market NN I-NP *
plunged VBD O *
again RB O *
yesterday NN B-NP *S)S)S)
. . O *S)

S. NNP B-NP (S*
Waite NNP I-NP *
Rawls NNP I-NP *
III NNP I-NP *
COMMA , O *
vice NN B-NP *
chairman NN I-NP *
of IN B-PP *
Continental NNP B-NP *
Bank NNP I-NP *
COMMA , O *
First NNP B-NP *
Options NNPS I-NP *
' POS B-NP *
parent NN I-NP *
company NN I-NP *
COMMA , O *
said VBD B-VP *
the DT B-NP (S(S*
firm NN I-NP *
took VBD B-VP *
on IN B-PP *
about IN B-NP *
160 CD I-NP *
accounts NNS I-NP *
formerly RB B-VP *
held VBN I-VP *
by IN B-PP *
Fossett NNP B-NP *
COMMA , O *
almost RB B-NP (S*
all DT I-NP *
of IN B-PP *
them PRP B-NP *
belonging VBG B-VP *
to TO B-PP *
professional JJ B-NP *
floor NN I-NP *
traders NNS I-NP *S)S)S)
. . O *S)

`` `` O (S*
Steve NNP B-NP (S*
and CC O *
his PRP$ B-NP *
firm NN I-NP *
were VBD B-VP *
still RB O *
worth JJ O *
a DT O *
lot NN O *
of IN B-PP *
money NN B-NP *S)
COMMA , O *
'' '' O *
Mr. NNP B-NP *
Rawls NNP I-NP *
said VBD B-VP *
. . O *S)

`` `` O (S*
A DT B-NP *
package NN I-NP *
of IN B-PP *
credit NN B-NP *
support NN I-NP *
was VBD B-VP *
put VBN I-VP *
together RB B-ADVP *
-- : O *
including VBG B-PP *
the DT B-NP *
assets NNS I-NP *
of IN B-PP *
Steve NNP B-NP *
and CC O *
his PRP$ B-NP *
firm NN I-NP *
. . O *
'' '' O *S)

The DT B-NP (S*
bailout NN I-NP *
was VBD B-VP *
cobbled VBN I-VP *
together RB B-ADVP *
over IN B-PP *
the DT B-NP *
weekend NN I-NP *
COMMA , O *
with IN B-PP *
officials NNS B-NP *
from IN B-PP *
the DT B-NP *
Federal NNP I-NP *
Reserve NNP I-NP *
Board NNP I-NP *
COMMA , O *
Securities NNPS B-NP *
and CC I-NP *
Exchange NNP I-NP *
Commission NNP I-NP *
COMMA , O *
Comptroller NNP B-NP *
of IN B-PP *
the DT B-NP *
Currency NN I-NP *
and CC O *
Treasury NNP B-NP *
as NNP I-NP *
well RB I-NP *
as IN I-NP *
the DT B-NP *
options NNS I-NP *
exchanges NNS I-NP *
. . O *S)

`` `` O (S*
It PRP B-NP (S*
was VBD B-VP *
great JJ B-ADJP *
to TO B-VP (S*
have VB I-VP *
the DT B-NP *
luxury NN I-NP *
of IN B-PP *
time NN B-NP *S)S)
COMMA , O *
'' '' O *
Mr. NNP B-NP *
Rawls NNP I-NP *
said VBD B-VP *
. . O *S)

At IN B-PP (S*
one CD B-NP *
point NN I-NP *
COMMA , O *
an DT B-NP *
options NNS I-NP *
industry NN I-NP *
official NN I-NP *
had VBD B-VP *
to TO I-VP *
talk VB I-VP *
the DT B-NP *
Federal NNP I-NP *
Reserve NNP I-NP *
Bank NNP I-NP *
of IN B-PP *
Chicago NNP B-NP *
's POS B-NP *
night NN I-NP *
watchman NN I-NP *
into IN B-PP *
giving VBG B-VP (S*
him PRP B-NP *
the DT B-NP *
home NN I-NP *
phone NN I-NP *
number NN I-NP *
of IN B-PP *
Silas NNP B-NP *
Keene NNP I-NP *
COMMA , O *
Chicago NNP B-NP *
Fed NNP I-NP *
president NN I-NP *S)
. . O *S)

First NNP B-NP (S*
Options NNPS I-NP *
did VBD B-VP *
n't RB I-VP *
have VB I-VP *
to TO I-VP *
put VB I-VP *
any DT B-NP *
money NN I-NP *
into IN B-PP *
the DT B-NP *
bailout NN I-NP *
. . O *S)

Yesterday NN B-NP (S*
's POS B-NP *
rally NN I-NP *
in IN B-PP *
the DT B-NP *
stock NN I-NP *
COMMA , I-NP *
futures NNS I-NP *
and CC I-NP *
options NNS I-NP *
markets NNS I-NP *
led VBD B-VP *
CBOE NNP B-NP (S*
and CC I-NP *
Amex NNP I-NP *
officials NNS I-NP *
to TO B-VP *
conclude VB I-VP *
that IN B-SBAR (S*
the DT B-NP (S*
$ $ I-NP *
50 CD I-NP *
million CD I-NP *
in IN B-PP *
guarantees NNS B-NP *
almost RB B-ADVP *
certainly RB I-ADVP *
wo MD B-VP *
n't RB I-VP *
need VB I-VP *
to TO I-VP *
be VB I-VP *
tapped VBN I-VP *
by IN B-PP *
First NNP B-NP *
Options NNPS I-NP *S)S)S)
. . O *S)

The DT B-NP (S(S*
Fossett NNP I-NP *
firm NN I-NP *
had VBD B-VP *
some DT B-NP *
losses NNS I-NP *
and CC O *
liquidity NN B-NP *
problems NNS I-NP *
during IN B-PP *
the DT B-NP *
October NNP I-NP *
1987 CD I-NP *
crash NN I-NP *
as IN B-ADVP *
well RB I-ADVP *S)
COMMA , O *
Mr. NNP B-NP *
Rawls NNP I-NP *
said VBD B-VP *
. . O *S)

A DT B-NP (S*
federal JJ I-NP *
official NN I-NP *
said VBD B-VP *
that IN B-SBAR (S(S*
Continental NNP B-NP (S*
Bank NNP I-NP *
worked VBD B-VP *
with IN B-PP *
securities NNS B-NP *
and CC O *
banking NN B-NP *
regulators NNS I-NP *
over IN B-PP *
the DT B-NP *
weekend NN I-NP *
to TO B-VP (S*
fashion VB I-VP *
the DT B-NP *
Fossett NNP I-NP *
bailout NN I-NP *S)S)S)
COMMA , O *
but CC O *
that IN B-SBAR (S*
conditions NNS B-NP (S*
were VBD B-VP *
n't RB I-VP *
dictated VBN I-VP *
by IN B-PP *
those DT B-NP *
agencies NNS I-NP *S)S)S)
. . O *S)

`` `` O (S*
It PRP B-NP (S*
was VBD B-VP *
their PRP$ B-NP *
business NN I-NP *
decision NN I-NP *S)
COMMA , O *
'' '' O *
the DT B-NP *
official NN I-NP *
said VBD B-VP *
. . O *S)

Officials NNS B-NP (S*
at IN B-PP *
Options NNP B-NP *
Clearing NNP I-NP *
Corp. NNP I-NP *
COMMA , O *
which WDT B-NP (S*
processes VBZ B-VP (S*
all DT B-NP *
options NNS I-NP *
trades NNS I-NP *
for IN B-PP *
U.S. NNP B-NP *
exchanges NNS I-NP *S)S)
COMMA , O *
said VBD B-VP *
that IN B-SBAR (S*
the DT B-NP (S*
$ $ I-NP *
50 CD I-NP *
million CD I-NP *
guarantee NN I-NP *
was VBD B-VP *
unprecedented JJ B-ADJP *
COMMA , O *
but CC O *
was VBD B-VP *
necessary JJ B-ADJP *
to TO B-VP (S*
help VB I-VP *
insure VB I-VP *
the DT B-NP *
integrity NN I-NP *
of IN B-PP *
the DT B-NP *
options NNS I-NP *
markets NNS I-NP *S)S)S)
. . O *S)

`` `` O (S*
It PRP B-NP (S*
was VBD B-VP *
an DT B-NP *
extraordinary JJ I-NP *
situation NN I-NP *
that WDT B-NP (S*
needed VBD B-VP (S*
extraordinary JJ B-NP *
steps NNS I-NP *S)S)S)
COMMA , O *
'' '' O *
said VBD B-VP *
Paul NNP B-NP *
Stevens NNP I-NP *
COMMA , O *
OCC NNP B-NP *
president NN I-NP *
and CC O *
chief JJ B-NP *
operating VBG I-NP *
officer NN I-NP *
. . O *S)

Mr. NNP B-NP (S*
Stevens NNP I-NP *
declined VBD B-VP *
to TO I-VP *
give VB I-VP *
the DT B-NP *
specific JJ I-NP *
contributions NNS I-NP *
to TO B-PP *
the DT B-NP *
$ $ I-NP *
50 CD I-NP *
million CD I-NP *
guarantee NN I-NP *
from IN B-PP *
each DT B-NP *
participant NN I-NP *
. . O *S)

But CC O (S*
CBOE NNP B-NP *
and CC I-NP *
Amex NNP I-NP *
officials NNS I-NP *
said VBD B-VP *
that IN B-SBAR (S*
Options NNP B-NP (S(S*
Clearing NNP I-NP *
Corp. NNP I-NP *
contributed VBD B-VP *
$ $ B-NP *
20 CD I-NP *
million CD I-NP *
to TO B-PP *
the DT B-NP *
guarantee NN I-NP *S)
COMMA , O *
the DT B-NP (S*
CBOE NNP I-NP *
put NN I-NP *
up IN B-PRT *
$ $ B-NP *
8 CD I-NP *
million CD I-NP *S)
COMMA , O *
the DT B-NP (S*
Amex NNP I-NP *
added VBD B-VP *
$ $ B-NP *
4 CD I-NP *
million CD I-NP *S)
and CC I-NP *
$ $ I-NP (S*
18 CD I-NP *
million CD I-NP *
came VBD B-VP *
from IN B-PP *
Mr. NNP B-NP *
Fossett NNP I-NP *
's POS B-NP *
own JJ I-NP *
assets NNS I-NP *S)S)S)
. . O *S)

Mr. NNP B-NP (S*
Fossett NNP I-NP *
could MD B-VP *
n't RB I-VP *
be VB I-VP *
reached VBN I-VP *
to TO B-VP (S*
comment VB I-VP *S)
. . O *S)

Debora NNP B-NP (S*
Foster NNP I-NP *
takes VBZ B-VP *
off IN B-PP *
her PRP$ B-NP *
necklace NN I-NP *
COMMA , O *
settles VBZ B-VP *
herself PRP B-NP *
on IN B-PP *
a DT B-NP *
padded JJ I-NP *
chair NN I-NP *
and CC O *
gently RB B-ADVP *
leans VBZ B-VP *
forward RB B-ADVP *
. . O *S)

With IN B-PP (S*
a DT B-NP (S*
jazz-piano JJ I-NP *
tape NN I-NP *
playing VBG B-VP *
softly RB B-ADVP *
in IN B-PP *
the DT B-NP *
background NN I-NP *S)
COMMA , O *
the DT B-NP *
soothing VBG I-NP *
hands NNS I-NP *
of IN B-PP *
Sabina NNP B-NP *
Vidunas NNP I-NP *
begin VB B-VP *
to TO I-VP *
work VB I-VP *
on IN B-PP *
Ms. NNP B-NP *
Foster NNP I-NP *
's POS B-NP *
neck NN I-NP *
and CC I-NP *
shoulders NNS I-NP *
. . O *S)

`` `` O (S*
It PRP B-NP (S*
's VBZ B-VP *
like IN B-PP *
an DT B-NP *
oasis NN I-NP *
in IN B-PP *
this DT B-NP *
room NN I-NP *S)
COMMA , O *
'' '' O *
Ms. NNP B-NP *
Foster NNP I-NP *
purrs VBZ B-VP *
. . O *S)

The DT B-NP (S*
room NN I-NP *
in IN B-PP *
question NN B-NP *
is VBZ B-VP *
the DT B-NP *
directors NNS I-NP *
' POS B-NP *
lounge NN I-NP *
of IN B-PP *
H.J. NNP B-NP *
Heinz NNP I-NP *
Co. NNP I-NP *
COMMA , O *
60 CD B-NP *
floors NNS I-NP *
above IN B-PP *
the DT B-NP *
bustle NN I-NP *
of IN B-PP *
Pittsburgh NNP B-NP *
. . O *S)

There RB B-ADVP (S*
COMMA , O *
amid IN B-PP *
oil NN B-NP *
paintings NNS I-NP *
and CC O *
marble NN B-NP *
tables NNS I-NP *
COMMA , O *
massages NNS B-NP *
are VBP B-VP *
administered VBN I-VP *
every DT B-NP *
Wednesday NNP I-NP *
. . O *S)

`` `` O (S*
On IN B-PP *
days NNS B-NP *
that IN B-NP (S*
I PRP B-NP (S*
'm VBP B-VP *
really RB B-ADJP *
busy JJ I-ADJP *S)S)
COMMA , O *
'' '' O *
says VBZ B-VP (S*
Ms. NNP B-NP *
Foster NNP I-NP *
COMMA , O *
who WP B-NP (S*
works VBZ B-VP (S*
in IN B-PP *
public JJ B-NP *
relations NNS I-NP *
for IN B-PP *
the DT B-NP *
company NN I-NP *S)S)S)
COMMA , O *
`` `` O *
it PRP B-NP *
seems VBZ B-VP *
decadent JJ B-ADJP *
to TO B-VP (S*
take VB I-VP *
time NN B-NP *
off IN B-PRT *
for IN B-PP *
a DT B-NP *
massage NN I-NP *S)
. . O *
'' '' O *S)

Although IN B-SBAR (S(S*
such JJ B-NP (S*
sessions NNS I-NP *
may MD B-VP *
never RB I-VP *
replace VB I-VP *
coffee NN B-NP *
breaks NNS I-NP *S)S)
COMMA , O *
on-site JJ B-NP *
massage NN I-NP *
COMMA , O *
as IN B-SBAR (S*
it PRP B-NP (S*
is VBZ B-VP *
known VBN I-VP *
in IN B-PP *
the DT B-NP *
trade NN I-NP *S)S)
COMMA , O *
is VBZ B-VP *
certainly RB I-VP *
infiltrating VBG I-VP *
corporate JJ B-NP *
America NNP I-NP *
. . O *S)

In IN B-PP (S*
some DT B-NP *
companies NNS I-NP *
middle NN I-NP *
managers NNS I-NP *
sneak VBP B-VP *
massage NN B-NP *
therapists NNS I-NP *
into IN B-PP *
the DT B-NP *
office NN I-NP *
COMMA , O *
fearful JJ B-ADJP (S*
that IN B-SBAR (S*
upper-level JJ B-NP (S*
executives NNS I-NP *
wo MD B-VP *
n't RB I-VP *
approve VB I-VP *S)S)S)
. . O *S)

Ms. NNP B-NP (S*
Foster NNP I-NP *
's POS B-NP *
indulgence NN I-NP *
is VBZ B-VP *
nothing NN B-NP *
like IN B-PP *
the DT B-NP *
oily JJ I-NP *
COMMA , I-NP *
hour-long JJ I-NP *
rubfests NNS I-NP *
enjoyed VBN B-VP *
by IN B-PP *
spa NN B-NP *
visitors NNS I-NP *
. . O *S)

Nor CC O (S*
does VBZ O *
it PRP B-NP *
at IN O *
all DT O *
resemble VB O *
( -LRB- B-NP *
despite IN B-PP *
what WP B-NP (S*
some DT B-NP (S*
executives NNS I-NP *
think VBP B-VP *S)S)
) -RRB- B-PP *
the DT B-NP *
more RBR I-NP *
intimate JJ I-NP *
variety NN I-NP *
offered VBN B-VP *
at IN B-PP *
specialty NN B-NP *
parlors NNS I-NP *
in IN B-PP *
bad JJ B-NP *
parts NNS I-NP *
of IN B-PP *
town NN B-NP *
. . O *S)

On IN B-PP (S*
the DT B-NP *
contrary NN I-NP *
COMMA , O *
office NN B-NP *
rubdowns NNS I-NP *
usually RB B-ADVP *
take VBP B-VP *
place NN B-NP *
in IN B-PP *
dimly RB O *
lighted VBN O *
conference NN B-NP *
rooms NNS I-NP *
COMMA , O *
where WRB B-ADVP (S*
stressed-out JJ B-NP (S*
employees NNS I-NP *
relax VBP B-VP *
in IN B-PP *
specially RB B-NP *
designed VBN I-NP *
chairs NNS I-NP *
COMMA , O *
fully RB O (S*
clothed VBN O *S)S)S)
. . O *S)

The DT O (S*
massages NNS O *
last JJ O *
15 CD B-NP *
minutes NNS I-NP *
and CC O *
typically RB B-ADVP *
cost VBP B-VP *
about RB B-NP *
$ $ I-NP *
10 CD I-NP *
. . O *S)

Some DT B-NP (S*
companies NNS I-NP *
COMMA , O *
including VBG B-PP *
Heinz NNP B-NP *
COMMA , O *
even RB O *
pay VB B-VP *
part NN B-NP *
of IN B-PP *
the DT B-NP *
fee NN I-NP *
. . O *S)

Ms. NNP B-NP (S*
Vidunas NNP I-NP *
has VBZ B-VP *
been VBN I-VP *
seeing VBG I-VP *
some DT B-NP *
15 CD I-NP *
clients NNS I-NP *
a DT B-NP *
visit NN I-NP *
since IN B-SBAR (S*
the DT B-NP (S*
program NN I-NP *
was VBD B-VP *
started VBN I-VP *
at IN B-PP *
Heinz NNP B-NP *
last JJ B-NP *
year NN I-NP *S)S)
. . O *S)

Anthony NNP B-NP (S*
J.F. NNP I-NP *
O'Reilly NNP I-NP *
COMMA , O *
the DT B-NP *
company NN I-NP *
's POS B-NP *
chairman NN I-NP *
COMMA , O *
swears VBZ B-NP *
by IN B-PP *
her PRP$ B-NP *
firm NN I-NP *
touch NN I-NP *
COMMA , O *
saying VBG B-VP (S*
regular JJ B-NP (S(S*
massages NNS I-NP *
are VBP B-VP *
a DT B-NP *
balm NN I-NP *
for IN B-PP *
his PRP$ B-NP *
old JJ I-NP *
football NN I-NP *
injuries NNS I-NP *S)S)S)
. . O *S)

Massage NN B-NP (S*
advocates NNS I-NP *
say VBP B-VP *
that IN B-SBAR (S*
kneading VBG B-VP (S(S*
the DT B-NP *
head NN I-NP *
COMMA , O *
shoulders NNS B-NP *
COMMA , O *
neck NN B-NP *
and CC O *
back RB O *S)
can MD B-VP *
go VB I-VP *
a DT B-NP *
long JJ I-NP *
way NN I-NP *
toward IN B-PP *
easing VBG B-VP (S*
tension NN B-NP *
and CC O *
improving VBG O *
morale NN O *S)S)S)
. . O *S)

They PRP B-NP (S*
also RB B-ADVP *
insist VBP B-VP *
that IN B-SBAR (S(S*
touching VBG B-NP (S*
is VBZ B-VP *
a DT B-NP *
basic JJ I-NP *
need NN I-NP *
COMMA , O *
as RB O *
powerful JJ O *
as IN B-PP *
the DT B-NP *
need NN I-NP *
for IN B-PP *
food NN O *
or CC O *
sleep VB O *
COMMA , O *S)S)
and CC O *
that IN B-SBAR (S*
the DT B-NP (S*
office NN I-NP *
is VBZ B-VP *
as IN B-NP *
good JJ I-NP *
a DT I-NP *
place NN I-NP *
as IN B-PP *
any DT B-NP *
to TO B-VP (S(S*
do VB I-VP *
it PRP B-NP *S)S)S)S)S)
. . O *S)

`` `` O (S*
The DT O (S(S*
blood NN O *
flows NNS O *
to TO B-PP *
your PRP$ B-NP *
head NN I-NP *S)
COMMA , O *
you PRP B-NP (S*
feel VBP B-VP *
lightheaded JJ B-ADJP *S)
and CC O *
you PRP B-NP (S*
do VBP B-VP *
n't RB I-VP *
feel VB I-VP *
tension NN B-NP *
around IN B-PP *
the DT B-NP *
head NN I-NP *
or CC I-NP *
neck NN I-NP *S)S)
COMMA , O *
'' '' O *
says VBZ B-VP *
Minnie NNP B-NP *
Morey NNP I-NP *
COMMA , O *
an DT B-NP *
operations NNS I-NP *
supervisor NN I-NP *
at IN B-PP *
the DT B-NP *
Social NNP I-NP *
Security NNP I-NP *
office NN I-NP *
in IN B-PP *
Grand NNP B-NP *
Rapids NNP I-NP *
COMMA , O *
Mich. NNP B-NP *
COMMA , O *
where WRB B-ADVP (S*
massages NNS B-NP (S*
began VBD B-VP *
last JJ B-NP *
month NN I-NP *S)S)
. . O *S)

`` `` O (S*
When WRB B-ADVP (S*
you PRP B-NP (S*
leave VBP B-VP *
the DT B-NP *
room NN I-NP *
after IN B-PP *
your PRP$ B-NP *
massage NN I-NP *S)S)
COMMA , O *
people NNS B-NP *
say VBP B-VP *
you PRP B-NP (S(S*
look VBP B-VP *
like IN B-SBAR (S*
you PRP B-NP (S*
're VBP B-VP *
glowing VBG I-VP *S)S)S)S)
. . O *
'' '' O *S)

Adds VBZ B-VP (S*
Candice NNP B-NP *
Ohlman NNP I-NP *
COMMA , O *
the DT B-NP *
35-year-old JJ I-NP *
masseuse NN I-NP *
who WP B-NP (S*
plies VBZ B-VP (S*
her PRP$ B-NP *
trade NN I-NP *
in IN B-PP *
the DT B-NP *
Grand NNP I-NP *
Rapids NNP I-NP *
office NN I-NP *S)S)
COMMA , O *
`` `` O *
They PRP B-NP (S*
fall VBP B-VP *
in IN B-PP *
love NN B-NP *
with IN B-PP *
my PRP$ B-NP *
hands NNS I-NP *S)
. . O *
'' '' O *S)

Not RB B-NP (S*
everyone NN I-NP *
COMMA , O *
however RB B-ADVP *
COMMA , O *
is VBZ B-VP *
at IN B-PP *
ease NN B-NP *
with IN B-PP *
office NN B-NP *
massage NN I-NP *
. . O *S)

Three CD B-NP (S*
years NNS I-NP *
ago RB B-ADVP *
COMMA , O *
the DT B-NP *
Internal NNP I-NP *
Revenue NNP I-NP *
Service NNP I-NP *
's POS B-NP *
office NN I-NP *
in IN B-PP *
San NNP B-NP *
Jose NNP I-NP *
COMMA , O *
Calif. NNP B-NP *
COMMA , O *
opened VBD B-VP *
its PRP$ B-NP *
doors NNS I-NP *
to TO B-PP *
on-site JJ B-NP *
massage NN I-NP *
. . O *S)

And CC O (S*
even RB O (S*
though IN O *
employees NNS B-NP (S*
paid VBD B-VP *
the DT B-NP *
bill NN I-NP *S)S)
COMMA , O *
taxpayers NNS B-NP *
grumbled VBD B-VP *
. . O *S)

`` `` O (S*
Sometimes RB B-ADVP (S*
COMMA , O *
with IN B-PP *
the DT B-NP *
release NN I-NP *
of IN B-PP *
stress NN B-NP *
COMMA , O *
you PRP B-NP *
hear VBP B-VP *
` `` O (S*
oohs UH O *
' '' O *
and CC O *
` `` O *
ahs UH O *
' '' O *
coming VBG B-VP *
out IN O *
of IN B-PP *
the DT B-NP *
room NN I-NP *S)S)
COMMA , O *
'' '' O *
explains VBZ B-VP *
Morgan NNP B-NP *
Banks NNP I-NP *
COMMA , O *
the DT B-NP *
agency NN I-NP *
's POS B-NP *
health NN I-NP *
specialist NN I-NP *
. . O *S)

`` `` O (S*
And CC O *
you PRP B-NP *
ca MD B-VP *
n't RB I-VP *
have VB I-VP *
taxpayers NNS B-NP (S*
coming VBG B-VP *
into IN B-PP *
an DT B-NP *
audit NN I-NP *
hearing NN I-NP *
` `` O *
oohs UH O *
' '' O *
and CC O *
` `` O *
ahs UH O *S)
. . O *
' '' O *
'' '' O *S)

Last JJ B-NP (S*
month NN I-NP *
COMMA , O *
the DT B-NP (S*
complaints NNS I-NP *
intensified VBN B-VP *S)
and CC O *
the DT B-NP (S*
massages NNS I-NP *
ended VBD B-VP *S)
. . O *S)

`` `` O (S*
Now RB B-ADVP (S*
we PRP B-NP *
're VBP B-VP *
looking VBG I-VP *
for IN B-PP *
a DT B-NP *
room NN I-NP *
with IN B-PP *
thicker JJR B-NP *
walls NNS I-NP *S)
COMMA , O *
'' '' O *
Ms. NNP B-NP *
Banks NNP I-NP *
says VBZ B-VP *
. . O *S)

Massage NN B-NP (S*
also RB B-ADVP *
has VBZ B-VP *
an DT B-NP *
image NN I-NP *
problem NN I-NP *
to TO B-VP (S(S*
contend VB I-VP *
with RB B-ADVP *S)S)
. . O *S)

Some DT B-NP (S*
masseurs NNS I-NP *
have VBP B-VP *
tried VBN I-VP *
to TO I-VP *
get VB I-VP *
around IN B-PP *
this DT B-NP *
by IN B-PP *
calling VBG B-VP (S*
themselves PRP B-NP (S*
`` `` O *
bodyworkers NNS B-NP *
'' '' O *S)
and CC O *
describing VBG B-VP *
their PRP$ B-NP *
office NN I-NP *
visits NNS I-NP *
as IN B-PP *
`` `` O *
reinvigoration NN B-NP *
breaks NNS I-NP *S)
. . O *
'' '' O *S)

But CC O (S(S*
massage NN B-NP *
COMMA , O *
no DT B-NP *
matter NN I-NP *
how WRB B-ADJP *
chaste JJ I-ADJP *
COMMA , O *
is VBZ O *
still RB O *
associated VBN B-VP *
in IN B-PP *
many JJ B-NP *
minds NNS I-NP *
with IN B-PP *
seedy JJ B-NP *
fronts NNS I-NP *
for IN B-PP *
prostitution NN B-NP *S)
COMMA , O *
and CC O *
that DT B-NP (S*
makes VBZ B-VP *
some DT B-NP *
executives NNS I-NP *
nervous JJ B-ADJP *S)
. . O *S)

Last JJ B-NP (S*
year NN I-NP *
COMMA , O *
the DT B-NP *
research NN I-NP *
and CC I-NP *
development NN I-NP *
division NN I-NP *
of IN B-PP *
Weyerhaeuser NNP B-NP *
Co. NNP I-NP *
COMMA , O *
the DT B-NP *
large JJ I-NP *
wood-products NNS I-NP *
concern VBP I-NP *
COMMA , O *
invited VBD B-VP *
a DT B-NP *
masseuse NN I-NP *
to TO B-PP *
its PRP$ B-NP *
Tacoma NNP I-NP *
COMMA , I-NP *
Wash. NNP I-NP *
COMMA , I-NP *
offices NNS I-NP *
. . O *S)

Phil NNP B-NP (S*
Harms NNP I-NP *
COMMA , O *
a DT B-NP *
software NN I-NP *
engineer NN I-NP *
COMMA , O *
was VBD B-VP *
an DT B-NP *
eager JJ I-NP *
customer NN I-NP *
. . O *S)

`` `` O (S*
You PRP B-NP (S*
build VBP B-VP *
up IN B-PP *
a DT B-NP *
lot NN I-NP *
of IN B-PP *
tension NN O *
working VBG O (S*
at IN B-PP *
a DT B-NP *
terminal NN I-NP *
all DT B-NP *
day NN I-NP *S)S)
COMMA , O *
'' '' O *
he PRP B-NP *
says VBZ B-VP *
. . O *S)

But CC O (S*
after IN B-PP *
about IN B-NP *
eight CD I-NP *
months NNS I-NP *
COMMA , O *
the DT B-NP *
vice NN I-NP *
president NN I-NP *
of IN B-PP *
the DT B-NP *
division NN I-NP *
COMMA , O *
Ed NNP B-NP *
Soule NNP I-NP *
COMMA , O *
learned VBD B-VP *
about IN B-PP *
the DT B-NP *
sessions NNS I-NP *
and CC O *
brought VBN B-VP *
them PRP B-NP *
to TO B-PP *
a DT B-NP *
halt NN I-NP *
. . O *S)

Mr. NNP B-NP (S*
Soule NNP I-NP *
says VBZ B-VP *
his PRP$ B-NP (S(S*
only JJ I-NP *
beef NN I-NP *
was VBD B-VP *
that IN B-SBAR (S*
the DT B-NP (S(S*
massages NNS I-NP *
were VBD B-VP *
being VBG I-VP *
given VBN I-VP *
in IN B-PP *
a DT B-NP *
company NN I-NP *
conference NN I-NP *
room NN I-NP *S)
; : O *
the DT B-NP (S*
department NN I-NP *
's POS B-NP *
supervised VBD I-NP *
health NN I-NP *
facility NN I-NP *
would MD B-VP *
have VB I-VP *
been VBN I-VP *
fine JJ B-ADJP *S)S)S)S)S)
. . O *S)

`` `` O (S*
In IN B-PP (S*
my PRP$ B-NP *
view NN I-NP *
COMMA , O *
{ -LRB- B-NP *
massages NNS I-NP *
} -RRB- O *
should MD B-VP *
be VB I-VP *
managed VBN I-VP *
with IN B-PP *
an DT B-NP *
appropriate JJ I-NP *
mixture NN I-NP *
of IN B-PP *
males NNS B-NP *
and CC I-NP *
females NNS I-NP *
around IN B-ADVP *S)
COMMA , O *
'' '' O *
he PRP B-NP *
says VBZ B-VP *
. . O *S)

Given VBN O (S*
such JJ B-NP *
attitudes NNS I-NP *
COMMA , O *
some DT B-NP *
corporate JJ I-NP *
masseurs NNS I-NP *
prefer VBP B-VP *
to TO I-VP *
go VB I-VP *
about IN B-PRT *
their PRP$ B-NP *
business NN I-NP *
quietly RB B-ADVP *
. . O *S)

Russell NNP B-NP (S*
Borner NNP I-NP *
of IN B-PP *
Park NNP B-NP *
Ridge NNP I-NP *
COMMA , O *
N.J. NNP B-NP *
COMMA , O *
says VBZ B-VP *
he PRP B-NP (S(S*
has VBZ B-VP *
been VBN I-VP *
working VBG I-VP *
for IN B-PP *
the DT B-NP *
past JJ I-NP *
year NN I-NP *
at IN B-PP *
a DT B-NP *
huge JJ I-NP *
chemical NN I-NP *
and CC I-NP *
manufacturing NN I-NP *
concern NN I-NP *
in IN B-PP *
New NNP B-NP *
York NNP I-NP *
-- : O *
unbeknownst JJ O (S*
to TO B-PP *
the DT B-NP *
company NN I-NP *
's POS B-NP *
executives NNS I-NP *S)S)S)
. . O *S)

He PRP B-NP (S*
visits VBZ B-VP *
the DT B-NP *
same JJ I-NP *
department NN I-NP *
every DT B-NP *
two CD I-NP *
or CC I-NP *
three CD I-NP *
weeks NNS I-NP *
. . O *S)

His PRP$ B-NP (S(S*
massage NN I-NP *
chair NN I-NP *
is VBZ B-VP *
kept VBN I-VP *
in IN B-PP *
a DT B-NP *
closet NN I-NP *S)
COMMA , O *
and CC O *
a DT B-NP (S*
secretary NN I-NP *
escorts VBZ B-VP *
him PRP B-NP *
past JJ I-NP *
security NN I-NP *S)
. . O *S)

`` `` O (S*
This DT B-NP (S*
is VBZ B-VP *
common JJ B-ADJP *
with IN B-PP *
a DT B-NP *
lot NN I-NP *
of IN B-PP *
large JJ B-NP *
companies NNS I-NP *S)
COMMA , O *
'' '' O *
says VBZ B-VP *
Mr. NNP B-NP *
Borner NNP I-NP *
COMMA , O *
who WP B-NP (S*
worked VBD B-VP (S*
for IN B-PP *
American NNP B-NP *
Telephone NNP I-NP *
& CC I-NP *
Telegraph NNP I-NP *
Co. NNP I-NP *
for IN B-PP *
23 CD B-NP *
years NNS I-NP *
before IN B-PP *
choosing VBG B-VP (S*
his PRP$ B-NP *
current JJ I-NP *
trade NN I-NP *S)S)S)
. . O *S)

Managers NNS B-NP (S*
COMMA , O *
he PRP B-NP (S*
contends VBZ B-VP *S)
COMMA , O *
`` `` O *
are VBP B-VP *
afraid JJ B-ADJP *
how WRB B-ADVP (S*
they PRP B-NP (S*
're VBP B-VP *
going VBG I-VP *
to TO I-VP *
look VB I-VP *
in IN B-PP *
the DT B-NP *
eyes NNS I-NP *
of IN B-PP *
their PRP$ B-NP *
peers NNS I-NP *S)S)
. . O *S)

My PRP$ B-NP (S*
vision NN I-NP *
is VBZ B-VP *
to TO B-VP (S*
change VB I-VP *
human JJ B-NP *
consciousness NN I-NP *
towards IN B-PP *
touch NN B-NP *S)
. . O *S)

My PRP$ B-NP (S*
attitude NN I-NP *
is VBZ B-VP *
: : O *
Let VB B-VP (S*
's POS O *
come VB O *
out IN B-PP *
of IN B-PP *
the DT B-NP *
closet NN I-NP *S)
. . O *
'' '' O *S)

Occasionally RB B-ADVP (S*
COMMA , O *
all PDT O *
that DT B-NP (S*
's VBZ B-VP (S*
needed VBN I-VP *S)S)
is VBZ B-VP *
a DT B-NP *
little JJ I-NP *
coaxing JJ O *
. . O *S)

Elisa NNP B-NP (S*
Byler NNP I-NP *
COMMA , O *
a DT B-NP *
St. NNP I-NP *
Louis NNP I-NP *
masseuse NN I-NP *
COMMA , O *
won VBD B-VP *
over IN B-PP *
officials NNS B-NP *
at IN B-PP *
Emerson NNP B-NP *
Electric NNP I-NP *
Co. NNP I-NP *
COMMA , O *
a DT B-NP *
maker NN I-NP *
of IN B-PP *
electrical JJ B-NP *
and CC I-NP *
electronic JJ I-NP *
equipment NN I-NP *
COMMA , O *
by IN B-PP *
providing VBG O (S*
documents NNS O *
and CC O *
other JJ B-NP *
articles NNS I-NP *
trumpeting VBG B-VP *
the DT B-NP *
therapeutic JJ I-NP *
benefits NNS I-NP *
of IN B-PP *
massage NN B-NP *S)
. . O *S)

She PRP B-NP (S*
notes VBZ B-VP *
that IN B-SBAR (S*
she PRP B-NP (S*
also RB B-ADVP *
stresses VBZ B-VP *
professionalism NN B-NP *
during IN B-PP *
her PRP$ B-NP *
weekly JJ I-NP *
visits NNS I-NP *S)S)
. . O *S)

`` `` O (S*
I PRP B-NP (S*
pull VBP B-VP *
my PRP$ B-NP *
hair NN I-NP *
back RB B-ADVP *
COMMA , O *
wear VB B-VP *
a DT B-NP *
little JJ I-NP *
makeup NN I-NP *
and CC O *
look VB B-VP *
corporate JJ B-ADJP *S)
COMMA , O *
'' '' O *
says VBZ B-VP *
Ms. NNP B-NP *
Byler NNP I-NP *
COMMA , O *
who WP B-NP (S*
has VBZ B-VP (S*
been VBN I-VP *
visiting VBG I-VP *
Emerson NNP B-NP *
since IN B-PP *
January NNP B-NP *S)S)
. . O *S)

`` `` O (S*
If IN B-SBAR (S*
I PRP B-NP (S*
go VBP B-VP *
in IN B-PP *
there RB B-ADVP *
as IN B-SBAR (S*
I PRP B-NP (S*
normally RB B-ADVP *
dress VBP B-VP *S)S)S)S)
COMMA , O *
they PRP B-NP *
'd MD B-VP *
ask VB I-VP *
COMMA , O *
` `` O (S*
Who WP B-NP *
is VBZ B-VP (S*
this DT B-NP *
hippie NN I-NP *S)S)
? . O *
' '' O *
'' '' O *S)

The DT B-NP (S*
self-proclaimed JJ I-NP *
father NN I-NP *
of IN B-PP *
on-site JJ B-NP *
massage NN I-NP *
is VBZ B-VP *
David NNP B-NP *
Palmer NNP I-NP *
COMMA , O *
a DT B-NP *
41-year-old NNP I-NP *
San NNP I-NP *
Francisco NNP I-NP *
masseur NN I-NP *
whose WP$ B-NP (S*
mission NN I-NP *
is VBZ B-VP (S*
to TO B-VP (S*
save VB I-VP *
the DT B-NP *
touch-starved JJ I-NP *
masses NNS I-NP *S)S)S)
. . O *S)

To TO B-VP (S(S*
help VB I-VP *
do VBP I-VP *
this DT B-NP *S)
COMMA , O *
Mr. NNP B-NP *
Palmer NNP I-NP *
developed VBD B-VP *
a DT B-NP *
portable JJ I-NP *
massage NN I-NP *
chair NN I-NP *
three CD B-NP *
years NNS I-NP *
ago RB B-ADVP *
that IN O (S*
he PRP B-NP (S*
hopes VBZ B-VP *
will MD B-VP (S(S*
bring VB I-VP *
`` `` O *
structured VBN O *
touching VBG O *
'' '' O *
into IN B-PP *
mainstream NN B-NP *
America NNP B-NP *S)S)S)S)
. . O *S)

`` `` O (S*
The DT B-NP (S*
culture NN I-NP *
is VBZ B-VP *
not RB O *
ready JJ B-ADJP *
to TO B-VP (S*
take VB I-VP *
off IN B-PRT *
its PRP$ B-NP *
clothes NNS I-NP *
COMMA , O *
lie VB B-VP *
down RB B-ADVP *
and CC O *
be VB B-VP *
touched VBN I-VP *
for IN B-PP *
an DT B-NP *
hour NN I-NP *
for IN B-PP *
$ $ B-NP *
45 CD I-NP *S)S)
COMMA , O *
'' '' O *
he PRP B-NP *
says VBZ B-VP *
. . O *S)

`` `` O (S*
The DT B-NP *
idea NN I-NP *
is VBZ B-VP *
to TO B-VP (S(S*
keep VB I-VP *
the DT B-NP *
clothes NNS I-NP *
on IN B-PP *S)
and CC O *
to TO B-VP (S*
keep VB I-VP *
people NNS B-NP (S*
seated VBN B-VP *S)S)S)
. . O *S)

The DT B-NP (S*
chair NN I-NP *
is VBZ B-VP *
a DT B-NP *
way NN I-NP *
to TO B-VP (S(S*
package VB I-VP *
massage NN B-NP *S)S)
. . O *
'' '' O *S)

Sitting VBG B-VP (S(S*
in IN B-PP *
one CD B-NP *
of IN B-PP *
Mr. NNP B-NP *
Palmer NNP I-NP *
's POS B-NP *
chairs NNS I-NP *
COMMA , O *
which WDT B-NP (S*
cost VBP B-VP (S*
$ $ B-NP *
425 CD I-NP *
and CC O *
have VBP B-VP *
since IN I-VP *
been VBN I-VP *
copied VBN I-VP *
by IN B-PP *
others NNS B-NP *S)S)
COMMA , O *S)
is VBZ B-VP *
a DT B-NP *
bit NN I-NP *
like IN B-PP *
straddling VBG B-VP (S*
a DT B-NP *
recliner NN I-NP *S)
. . O *S)

Customers NNS B-NP (S*
lean JJ B-ADJP *
forward RB B-ADVP *
COMMA , O *
rest VB B-VP *
their PRP$ B-NP *
knees NNS I-NP *
on IN B-PP *
side NN B-NP *
supports VBZ O *
and CC O *
bury VB B-VP *
their PRP$ B-NP *
face NN I-NP *
in IN B-PP *
padding NN B-NP *
on IN B-PP *
the DT B-NP *
back RB I-NP *
of IN B-PP *
the DT B-NP *
chair NN I-NP *
. . O *S)

( -LRB- O (S*
Ms. NNP B-NP *
Ohlman NNP I-NP *
COMMA , O *
the DT B-NP *
Grand NNP I-NP *
Rapids NNP I-NP *
masseuse NN I-NP *
COMMA , O *
says VBZ B-VP *
she PRP B-NP (S(S*
has VBZ B-VP *
heard VBN I-VP *
the DT B-NP (S*
odd-looking JJ I-NP *
contraption NN I-NP *
compared VBN B-PP *
to TO B-PP *
something NN B-NP *
out IN B-PP *
of IN B-PP *
the DT B-NP *
Spanish NNP I-NP *
Inquisition NNP I-NP *S)S)S)
. . O *
) -RRB- O *S)

Mr. NNP B-NP (S*
Palmer NNP I-NP *
COMMA , O *
who WP B-NP (S*
serves VBZ B-VP (S*
as IN B-PP *
president NN B-NP *
of IN B-PP *
the DT B-NP *
On-Site NNP I-NP *
Massage NNP I-NP *
Association NNP I-NP *
and CC O *
writes VBZ B-VP *
an DT B-NP *
industry NN I-NP *
newsletter NN I-NP *S)S)
COMMA , O *
says VBZ B-VP *
some DT B-NP (S(S*
4COMMA000 CD I-NP *
practitioners NNS I-NP *
-- : O *
out RP B-PP *
of IN B-PP *
about IN B-NP *
50COMMA000 CD I-NP *
certified VBN I-NP *
masseurs NNS I-NP *
across IN B-PP *
the DT B-NP *
country NN I-NP *
-- : O *
now JJ B-NP *
use NN I-NP *
massage NN I-NP *
chairs NNS I-NP *
in IN B-PP *
the DT B-NP *
workplace NN I-NP *
COMMA , O *
as RB B-CONJP *
well RB I-CONJP *
as IN I-CONJP *
on IN B-PP *
street NN B-NP *
corners NNS I-NP *
COMMA , O *
in IN B-PP *
airports NNS B-NP *
and CC I-NP *
malls NNS I-NP *
COMMA , O *
and CC O *
at IN B-PP *
conventions NNS B-NP *
and CC O *
other JJ B-NP *
gatherings NNS I-NP *
where WRB B-ADVP (S*
weary JJ B-NP (S*
people NNS I-NP *
can MD B-VP *
be VB I-VP *
found VBN I-VP *S)S)S)S)
. . O *S)

Scot NNP B-NP (S*
MacInnis NNP I-NP *
COMMA , O *
a DT B-NP *
masseur NN I-NP *
in IN B-PP *
Boulder NNP B-NP *
COMMA , O *
Colo. NNP B-NP *
COMMA , O *
had VBD B-VP *
a DT B-NP *
scary JJ I-NP *
experience NN I-NP *
while IN B-PP (S*
massaging VBG B-VP (S*
a DT B-NP *
man NN I-NP *
in IN B-PP *
a DT B-NP *
natural-foods NNS I-NP *
supermarket NN I-NP *
as IN B-PP *
part NN B-NP *
of IN B-PP *
a DT B-NP *
store NN I-NP *
promotion NN I-NP *S)S)
. . O *S)

Three CD B-NP (S*
minutes NNS I-NP *
into IN B-PP *
the DT B-NP *
massage NN I-NP *
COMMA , O *
the DT B-NP *
man NN I-NP *
curled VBD B-VP *
up IN B-PRT *
COMMA , O *
began VBD B-VP *
shaking VBG I-VP *
and CC O *
turned VBD B-VP *
red JJ B-ADJP *
. . O *S)

Paramedics NNS B-NP (S*
were VBD B-VP *
called VBN I-VP *
. . O *S)

A DT B-NP (S*
week NN I-NP *
later RB B-ADVP *
COMMA , O *
the DT B-NP *
man NN I-NP *
told VBD B-VP *
Mr. NNP B-NP *
MacInnis NNP I-NP *
he PRP B-NP (S(S*
had VBD B-VP *
suffered VBN I-VP *
a DT B-NP *
mild JJ I-NP *
heart NN I-NP *
attack NN I-NP *
unrelated JJ B-ADJP *
to TO B-PP *
the DT B-NP *
massage NN I-NP *S)S)
. . O *S)

`` `` O (S*
It PRP B-NP (S*
was VBD B-VP *
a DT B-NP *
powerful JJ I-NP *
point NN I-NP *
in IN B-PP *
my PRP$ B-NP *
career NN I-NP *S)
COMMA , O *
'' '' O *
says VBZ B-VP *
the DT B-NP *
31-year-old NNP I-NP *
Mr. NNP I-NP *
MacInnis NNP I-NP *
COMMA , O *
who WP B-NP (S*
has VBZ B-VP (S*
since IN I-VP *
taken VBN I-VP *
out RP B-PRT *
a DT B-NP *
$ $ I-NP *
1 CD I-NP *
million CD I-NP *
liability NN I-NP *
policy NN I-NP *
for IN B-PP *
his PRP$ B-NP *
business NN I-NP *S)S)
. . O *S)

`` `` O (S*
But CC O (S*
he PRP B-NP *
pulled VBD B-VP *
through IN B-ADVP *S)
COMMA , O *
and CC O *
after IN B-PP (S(S*
the DT B-NP (S*
ambulance NN I-NP *
left VBN B-VP *S)S)
COMMA , O *
there EX B-NP *
were VBD O *
still RB O *
six CD O *
people NNS O *
in IN B-PP *
line NN B-NP *
waiting VBG B-VP *
for IN B-PP *
a DT B-NP *
massage NN I-NP *S)
. . O *S)

The DT B-NP (S(S*
next JJ I-NP *
woman NN I-NP *
was VBD B-VP *
older JJR B-ADJP *S)
COMMA , O *
and CC O *
I PRP B-NP (S*
was VBD B-VP *
afraid JJ B-ADJP *
to TO B-VP (S*
touch VB I-VP *
her PRP$ B-NP *S)S)
. . O *S)

But CC O (S*
it PRP B-NP *
's VBZ B-VP *
like IN B-PP *
falling VBG B-VP (S*
off IN B-PP *
a DT B-NP *
horse NN I-NP *
and CC O *
getting VBG B-VP *
back RB B-ADVP *
on IN B-PRT *S)
. . O *
'' '' O *S)

Despite IN B-PP (S*
the DT B-NP *
number NN I-NP *
of IN B-PP *
fans VBZ B-NP *
that DT O (S*
office NN B-NP (S*
massage NN I-NP *
has VBZ B-VP *
won VBN I-VP *S)S)
COMMA , O *
some DT B-NP *
purists NNS I-NP *
look VBP B-VP *
down RB B-ADVP *
on IN B-PP *
it PRP B-NP *
COMMA , O *
arguing VBG B-VP (S*
that IN B-SBAR (S*
naked JJ B-NP (S*
COMMA , I-NP *
full-body JJ I-NP *
rubs NNS I-NP *
are VBP B-VP *
the DT B-NP *
only JJ I-NP *
way NN I-NP *
to TO B-VP (S(S*
go VB I-VP *S)S)S)S)S)
. . O *S)

Linda NNP B-NP (S*
Aldridge NNP I-NP *
COMMA , O *
who WP B-NP (S*
does VBZ B-VP (S*
full-body JJ B-NP *
work NN I-NP *
in IN B-PP *
Pittsburgh NNP B-NP *S)S)
COMMA , O *
says VBZ B-VP *
that IN B-SBAR (S*
while IN B-SBAR (S(S*
on-site JJ B-NP (S*
massage NN I-NP *
is VBZ B-VP *
better JJR B-ADJP *
than IN B-PP *
nothing NN B-NP *S)S)
COMMA , O *
tired VBN B-NP *
workers NNS I-NP *
should MD B-VP *
realize VB I-VP *
it PRP B-NP (S(S*
is VBZ B-VP *
only RB B-NP *
the DT I-NP *
tip NN I-NP *
of IN B-PP *
the DT B-NP *
iceberg NN I-NP *S)S)S)S)
. . O *S)

`` `` O (S*
Whole JJ B-NP (S*
areas NNS I-NP *
of IN B-PP *
their PRP$ B-NP *
bodies NNS I-NP *
are VBP B-VP *
neglected VBN I-VP *S)
COMMA , O *
'' '' O *
she PRP B-NP *
says VBZ B-VP *
COMMA , O *
adding VBG B-VP (S*
that IN B-SBAR (S*
clothes NNS B-NP (S*
ruin VBP B-VP *
the DT B-NP *
experience NN I-NP *S)S)S)
. . O *S)

`` `` O (S*
There EX B-NP *
's VBZ B-VP *
nothing NN B-NP *
like IN B-PP *
skin NN B-NP *
to TO B-PP *
skin NN B-NP *
. . O *S)

In IN B-PP (S*
what WP B-NP (S*
is VBZ B-VP (S*
believed VBN I-VP *
to TO I-VP *
be VB I-VP *
the DT B-NP *
first JJ I-NP *
cancellation NN I-NP *
of IN B-PP *
a DT B-NP *
loan NN I-NP *
to TO B-PP *
China NNP B-NP *
since IN B-PP *
the DT B-NP *
June NNP I-NP *
4 CD I-NP *
killings NNS I-NP *
in IN B-PP *
Beijing NNP B-NP *S)S)
COMMA , O *
an DT B-NP *
international JJ I-NP *
bank NN I-NP *
syndicate NN I-NP *
has VBZ B-VP *
terminated VBN I-VP *
a DT B-NP *
$ $ I-NP *
55 NN I-NP *
million CD I-NP *
credit NN I-NP *
for IN B-PP *
a DT B-NP *
Shanghai NNP I-NP *
property NN I-NP *
project NN I-NP *
. . O *S)

The DT B-NP (S*
syndicate NN I-NP *
COMMA , O *
led VBN B-VP *
by IN B-PP *
Schroders NNP B-NP *
Asia NNP I-NP *
Ltd. NNP I-NP *
COMMA , O *
agreed VBD B-VP *
last JJ B-NP *
November NNP I-NP *
to TO B-VP (S*
provide VB I-VP *
the DT B-NP *
loan NN I-NP *
to TO B-PP *
Asia NNP B-NP *
Development NNP I-NP *
Corp. NNP I-NP *
COMMA , O *
a DT B-NP *
U.S. NNP I-NP *
property NN I-NP *
developer NN I-NP *S)
. . O *S)

But CC O (S*
several JJ B-NP *
weeks NNS I-NP *
ago RB B-ADVP *
COMMA , O *
in IN B-PP *
the DT B-NP *
wake NN I-NP *
of IN B-PP *
the DT B-NP *
Beijing NNP I-NP *
killings NNS I-NP *
COMMA , O *
the DT B-NP *
loan NN I-NP *
was VBD B-VP *
canceled VBN I-VP *
COMMA , O *
according VBG B-PP *
to TO B-PP *
bankers NNS B-NP *
and CC I-NP *
executives NNS I-NP *
close VBP B-ADJP *
to TO B-PP *
the DT B-NP *
project NN I-NP *
. . O *S)

Asia NNP B-NP (S*
Development NNP I-NP *
and CC I-NP *
Schroders NNP I-NP *
declined VBD B-VP *
to TO I-VP *
comment VB I-VP *
on IN B-PP *
the DT B-NP *
move NN I-NP *
. . O *S)

Lenders NNS B-NP (S(S(S*
had VBD B-VP *
doubts NNS B-NP *
about IN B-PP *
the DT B-NP *
project NN I-NP *
even RB O *
before IN B-PP *
June NNP B-NP *
4 CD I-NP *S)
COMMA , O *
but CC O *
the DT B-NP (S*
harsh JJ I-NP *
crackdown NN I-NP *
COMMA , O *
which WDT B-NP (S*
caused VBD B-VP (S*
many JJ B-NP (S*
businesses NNS I-NP *
to TO B-VP *
reassess VB I-VP *
their PRP$ B-NP *
China NNP I-NP *
transactions NNS I-NP *S)S)S)
COMMA , O *
`` `` O *
gave VBD B-VP *
the DT B-NP *
banks NNS I-NP *
the DT B-NP *
out NN I-NP *
they PRP B-NP (S(S*
wanted VBD B-VP *S)S)S)S)
COMMA , O *
'' '' O *
says VBZ B-VP *
an DT O *
official JJ O *
close RB O *
to TO B-PP *
the DT B-NP *
Shanghai NNP I-NP *
venture NN I-NP *
. . O *S)

The DT B-NP (S*
decision NN I-NP *
to TO B-VP (S*
cancel VB I-VP *
the DT B-NP *
loan NN I-NP *S)
exemplifies VBZ B-VP *
the DT B-NP *
tough JJ I-NP *
attitude NN I-NP *
bankers NNS I-NP (S(S*
have VBP B-VP *
taken VBN I-VP *
toward IN B-PP *
China NNP B-NP *
since IN B-PP *
June NNP B-NP *
4 CD I-NP *S)S)
. . O *S)

While IN B-SBAR (S(S*
some DT B-NP (S*
commercial JJ I-NP *
lending NN I-NP *
has VBZ B-VP *
resumed VBN I-VP *S)S)
COMMA , O *
international JJ B-NP *
lenders NNS I-NP *
remain VBP B-VP *
nervous JJ B-ADJP *
about IN B-PP *
China NNP B-NP *
's POS B-NP *
economic JJ I-NP *
troubles NNS I-NP *
and CC I-NP *
foreign JJ I-NP *
debt NN I-NP *
-- : O *
$ $ B-NP *
40 CD I-NP *
billion CD I-NP *
at IN B-PP *
the DT B-NP *
end NN I-NP *
of IN B-PP *
1988 CD B-NP *
. . O *S)

Many JJ B-NP (S*
loans NNS I-NP *
are VBP B-VP *
being VBG I-VP *
renegotiated VBN I-VP *
COMMA , O *
especially RB B-ADVP *
those DT B-NP *
tied VBN B-VP *
to TO B-PP *
the DT B-NP *
hotel NN I-NP *
sector NN I-NP *
COMMA , O *
which WDT B-NP (S*
has VBZ B-VP (S*
been VBN I-VP *
hit VBN I-VP *
hard JJ B-ADVP *
by IN B-PP *
a DT B-NP *
post-June JJ I-NP *
4 CD I-NP *
tourism NN I-NP *
slump NN I-NP *S)S)
. . O *S)

Many JJ B-NP (S*
bankers NNS I-NP *
view VBP B-VP *
property-sector NN B-NP *
loans NNS I-NP *
as IN O *
particularly RB O *
risky JJ O *
. . O *S)

The DT B-NP (S*
canceled VBN I-NP *
Shanghai NNP I-NP *
loan NN I-NP *
leaves VBZ B-VP *
Asia NNP B-NP *
Development NNP I-NP *
COMMA , O *
a DT B-NP *
small JJ I-NP *
concern NN I-NP *
COMMA , O *
saddled VBN B-PP *
with IN B-PP *
a DT B-NP *
half-completed JJ I-NP *
32-story JJ I-NP *
apartment NN I-NP *
building NN I-NP *
and CC I-NP *
heavy JJ I-NP *
debts NNS I-NP *
. . O *S)

The DT B-NP (S(S*
company NN I-NP *
owes VBZ B-VP *
$ $ B-NP *
11 CD I-NP *
million CD I-NP *
to TO B-PP *
the DT B-NP *
Shui NNP I-NP *
On IN B-PP *
Group NNP B-NP *
COMMA , O *
the DT B-NP *
project NN I-NP *
's POS B-NP *
Hong NNP I-NP *
Kong NNP I-NP *
contractor NN I-NP *
COMMA , O *
and CC O *
a DT B-NP *
significant JJ I-NP *
COMMA , O *
though IN B-PP *
unspecified JJ O *
COMMA , O *
amount NN B-NP *
in IN B-PP *
legal JJ B-NP *
fees NNS I-NP *
to TO B-PP *
Coudert NNP B-NP *
Brothers NNPS I-NP *
COMMA , O *
a DT B-NP *
U.S. NNP I-NP *
law NN I-NP *
firm NN I-NP *S)
COMMA , O *
the DT B-NP *
sources NNS I-NP *
say VBP B-VP *
. . O *S)

The DT B-NP (S*
project NN I-NP *
COMMA , O *
known VBN B-VP *
as IN B-PP *
Lotus NNP B-NP *
Mansion NNP I-NP *
COMMA , O *
has VBZ B-VP *
been VBN I-VP *
mired VBN I-VP *
in IN B-PP *
controversy NN B-NP *
. . O *S)

When WRB B-ADVP (S(S*
the DT B-NP (S*
loan NN I-NP *
agreement NN I-NP *
was VBD B-VP *
announced VBN I-VP *S)S)
COMMA , O *
it PRP B-NP *
was VBD B-VP *
hailed VBN I-VP *
as IN B-PP *
one CD B-NP *
of IN B-PP *
the DT B-NP *
first JJ I-NP *
Western-style JJ I-NP *
financing NN I-NP *
transactions NNS I-NP *
ever RB O *
used VBN O *
in IN B-PP *
China NNP B-NP *
. . O *S)

Unlike IN B-PP (S*
most RBS B-NP *
loans NNS I-NP *
to TO B-PP *
China NNP B-NP *
COMMA , O *
there EX B-NP *
was VBD B-VP *
no DT B-NP *
Chinese JJ I-NP *
guarantor NN I-NP *
. . O *S)

Instead RB B-ADVP (S*
COMMA , O *
the DT B-NP *
banks NNS I-NP *
secured VBD B-VP *
a DT B-NP *
promise NN I-NP *
from IN B-PP *
state-owned JJ B-NP *
Bank NNP I-NP *
of IN B-PP *
Communications NNPS B-NP *
that IN B-SBAR (S*
it PRP B-NP (S*
would MD B-VP *
lend VB I-VP *
Asia NNP B-NP *
Development NNP I-NP *
the DT B-NP *
entire JJ I-NP *
$ $ I-NP *
55 NN I-NP *
million CD I-NP *
at IN B-PP *
maturity NN B-NP *
to TO B-VP (S*
finance VB I-VP *
repayment NN B-NP *
of IN B-PP *
the DT B-NP *
original JJ I-NP *
borrowing NN I-NP *S)S)S)
. . O *S)

The DT B-NP (S*
loan NN I-NP *
was VBD B-VP *
to TO B-VP *
have VB I-VP *
matured VBN I-VP *
in IN B-PP *
just RB B-NP *
two CD I-NP *
to TO I-NP *
three CD I-NP *
years NNS I-NP *
COMMA , O *
as RB B-CONJP *
soon RB I-CONJP *
as IN I-CONJP (S*
construction NN B-NP (S*
was VBD B-VP *
completed VBN I-VP *S)S)
. . O *S)

But CC O (S*
in IN B-PP *
a DT B-NP *
letter NN I-NP *
sent VBD B-VP *
in IN B-PP *
August NNP B-NP *
to TO B-PP *
Asia NNP B-NP *
Development NNP I-NP *
COMMA , O *
Schroders NNP B-NP *
said VBD B-VP *
the DT B-NP (S(S*
loan NN I-NP *
was VBD B-VP *
terminated VBN I-VP *
because IN B-SBAR (S*
the DT B-NP (S*
developer NN I-NP *
had VBD B-VP *
failed VBN I-VP *
to TO I-VP *
deliver VB I-VP *
adequate JJ B-NP *
financial JJ I-NP *
data NNS I-NP *
and CC O *
pay VB B-VP *
certain JJ B-NP *
fees NNS I-NP *
to TO B-PP *
the DT B-NP *
loan-management NN I-NP *
committee NN I-NP *
on IN B-PP *
time NN B-NP *S)S)
COMMA , O *
according VBG B-PP *
to TO B-PP *
officials NNS B-NP *
close VBP B-ADJP *
to TO B-PP *
the DT B-NP *
project NN I-NP *S)S)
. . O *S)

Creditors NNS B-NP (S*
involved VBN B-VP *
in IN B-PP *
the DT B-NP *
project NN I-NP *
contend VBP B-VP *
COMMA , O *
however RB B-ADVP *
COMMA , O *
that IN B-SBAR (S*
the DT B-NP (S*
termination NN I-NP *
actually RB B-ADVP *
had VBD B-VP *
nothing NN B-NP *
to TO B-VP (S(S*
do VB I-VP *
with IN B-PP *
these DT B-NP *
technical JJ I-NP *
violations NNS I-NP *S)S)S)S)
. . O *S)

Instead RB B-ADVP (S*
COMMA , O *
the DT B-NP (S*
creditors NNS I-NP *
say VBP B-VP *S)
COMMA , O *
the DT B-NP *
loan NN I-NP *
fell VBD B-VP *
victim NN B-NP *
to TO B-PP *
nervousness NN B-NP *
about IN B-PP *
China NNP B-NP *
's POS B-NP *
political JJ I-NP *
turmoil NN I-NP *
COMMA , O *
as RB B-CONJP *
well RB I-CONJP *
as IN I-CONJP *
to TO B-VP *
concern VB I-VP *
about IN B-PP *
the DT B-NP *
loan NN I-NP *
's POS B-NP *
security NN I-NP *
. . O *S)

The DT B-NP (S(S*
bank NN I-NP *
syndicate NN I-NP *
is VBZ B-VP *
made VBN I-VP *
up IN B-PRT *
mostly RB B-ADVP *
of IN B-PP *
European JJ B-NP *
banks NNS I-NP *S)
COMMA , O *
but CC O *
it PRP B-NP (S*
includes VBZ B-VP *
China NNP B-NP *
's POS B-NP *
state-owned JJ I-NP *
Citic NNP I-NP *
Industrial NNP I-NP *
Bank NNP I-NP *S)
. . O *S)

The DT B-NP (S*
11 CD I-NP *
banks NNS I-NP *
in IN B-PP *
the DT B-NP *
syndicate NN I-NP *
sustained VBD B-VP *
no DT B-NP *
monetary JJ I-NP *
losses NNS I-NP *
because IN B-PP (S*
none NN B-NP (S*
of IN B-PP *
the DT B-NP *
credit NN I-NP *
facility NN I-NP *
had VBD B-VP *
been VBN I-VP *
drawn VBN I-VP *
down RB B-PRT *S)S)
. . O *S)

K NNP B-NP (S*
mart NNP I-NP *
Corp. NNP I-NP *
agreed VBD B-VP *
to TO I-VP *
acquire VB I-VP *
Pace NNP B-NP *
Membership NNP I-NP *
Warehouse NNP I-NP *
Inc. NNP I-NP *
for IN B-PP *
$ $ B-NP *
23 CD I-NP *
a DT B-NP *
share NN I-NP *
COMMA , O *
or CC O *
$ $ B-NP *
322 CD I-NP *
million CD I-NP *
COMMA , O *
in IN B-PP *
a DT B-NP *
move NN I-NP *
to TO B-VP (S*
expand VB I-VP *
its PRP$ B-NP *
presence NN I-NP *
in IN B-PP *
the DT B-NP *
rapidly RB I-NP *
growing VBG I-NP *
warehouse-club NN I-NP *
business NN I-NP *S)
. . O *S)

The DT B-NP (S*
proposed VBN I-NP *
merger NN I-NP *
comes VBZ B-VP *
as IN B-PP (S*
K NNP B-NP (S(S*
mart NNP I-NP *
's POS B-NP *
profit NN I-NP *
is VBZ O *
declining VBG O *S)
and CC O *
sales NNS O (S*
at IN B-PP *
its PRP$ B-NP *
core NN I-NP *
discount NN I-NP *
stores NNS I-NP *
are VBP B-VP *
rising VBG I-VP *
more RBR B-ADVP *
slowly RB I-ADVP *
than IN B-PP *
at IN I-PP *
such JJ B-NP *
competitors NNS I-NP *
as IN B-PP *
Wal-Mart NNP B-NP *
Stores NNP I-NP *
Inc NNP I-NP *S)S)S)
. . O *S)

K NNP B-NP (S*
mart NNP I-NP *
COMMA , O *
based VBN B-VP *
in IN B-PP *
Troy NNP B-NP *
COMMA , O *
Mich. NNP B-NP *
COMMA , O *
recently RB B-ADVP *
said VBD B-VP *
net JJ B-NP (S(S*
income NN I-NP *
would MD B-VP *
fall VB I-VP *
for IN B-PP *
the DT B-NP *
third JJ I-NP *
consecutive JJ I-NP *
quarter NN I-NP *
COMMA , O *
after IN O *
a DT B-NP *
16 CD I-NP *
% NN I-NP *
drop NN I-NP *
in IN B-PP *
the DT B-NP *
first JJ I-NP *
half NN I-NP *
of IN B-PP *
its PRP$ B-NP *
current JJ I-NP *
fiscal JJ I-NP *
year NN I-NP *S)S)
. . O *S)

`` `` O (S*
The DT B-NP (S*
membership NN I-NP *
warehouse-club NN I-NP *
concept NN I-NP *
has VBZ B-VP *
great JJ B-NP *
potential NN I-NP *S)
COMMA , O *
'' '' O *
the DT B-NP *
company NN I-NP *
's POS B-NP *
chairman NN I-NP *
COMMA , O *
Joseph NNP B-NP *
E. NNP I-NP *
Antonini NNP I-NP *
COMMA , O *
said VBD B-VP *
in IN B-PP *
a DT B-NP *
statement NN I-NP *
. . O *S)

Warehouse NN B-NP (S*
clubs NNS I-NP *
typically RB B-ADVP *
carry VBP B-VP *
general JJ B-NP *
merchandise NN I-NP *
and CC I-NP *
food NN I-NP *
products NNS I-NP *
COMMA , O *
which WDT B-NP (S*
they PRP B-NP (S*
sell VBP B-VP *
for IN O *
close RB O *
to TO B-PP *
wholesale JJ B-NP *
prices NNS I-NP *
in IN B-PP *
no-frills JJ B-NP *
stores NNS I-NP *S)S)
. . O *S)

Shoppers NNS B-NP (S*
COMMA , O *
many NN B-NP (S*
of IN B-PP *
whom WP B-NP *
operate VBP B-VP *
small JJ B-NP *
businesses NNS I-NP *S)
COMMA , O *
pay VB B-VP *
annual JJ B-NP *
membership NN I-NP *
fees NNS I-NP *
COMMA , O *
which WDT B-NP (S*
provide VBP B-VP (S*
an DT B-NP *
income NN I-NP *
base NN I-NP *
for IN B-PP *
the DT B-NP *
stores NNS I-NP *S)S)
. . O *S)

K NNP B-NP (S*
mart NNP I-NP *
tested VBD B-VP *
the DT B-NP *
warehouse-club NN I-NP *
sector NN I-NP *
last JJ B-NP *
year NN I-NP *
with IN B-PP *
its PRP$ B-NP *
acquisition NN I-NP *
of IN B-PP *
a DT B-NP *
51 CD I-NP *
% NN I-NP *
interest NN I-NP *
in IN B-PP *
Makro NNP B-NP *
Inc NNP I-NP *
. . O *S)

But CC O (S*
the DT B-NP *
Makro NNP I-NP *
chain NN I-NP *
COMMA , O *
which WDT B-NP (S*
operates VBZ B-VP (S*
as IN B-PP *
a DT B-NP *
joint JJ I-NP *
venture NN I-NP *
between IN B-PP *
K NNP B-NP *
mart NNP I-NP *
and CC O *
SHV NNP B-NP *
Holdings NNP I-NP *
N.V. NNP I-NP *
of IN B-PP *
the DT B-NP *
Netherlands NNP I-NP *S)S)
COMMA , O *
has VBZ B-VP *
only RB B-NP *
six CD I-NP *
stores NNS I-NP *
and CC O *
annual JJ B-NP *
sales NNS I-NP *
that IN B-SBAR (S*
one CD B-NP (S*
analyst NN I-NP *
estimated VBN B-VP *
at IN B-PP *
about RB B-NP *
$ $ I-NP *
300 CD I-NP *
million CD I-NP *S)S)
. . O *S)

Six-year-old JJ B-NP (S*
Pace NNP I-NP *
COMMA , O *
based VBN B-VP *
in IN B-PP *
Aurora NNP B-NP *
COMMA , O *
Colo. NNP B-NP *
COMMA , O *
operates VBZ B-VP *
41 CD B-NP *
warehouse-club NN I-NP *
stores NNS I-NP *
. . O *S)

The DT B-NP (S*
company NN I-NP *
had VBD B-VP *
losses NNS B-NP *
for IN B-PP *
several JJ B-NP *
years NNS I-NP *
before IN B-PP *
turning VBG B-VP (S*
profitable JJ B-ADJP *
in IN B-PP *
fiscal JJ B-NP *
1988 CD I-NP *S)
. . O *S)

In IN B-PP (S(S*
the DT B-NP *
year NN I-NP *
ended VBN B-VP *
Jan. NNP B-NP *
31 CD I-NP *
COMMA , O *
Pace NNP B-NP *
rang VBD B-VP *
up IN O *
profit NN B-NP *
of IN B-PP *
$ $ B-NP *
9.4 CD I-NP *
million CD I-NP *
COMMA , O *
or CC O *
72 CD B-NP *
cents NNS I-NP *
a DT B-NP *
share NN I-NP *
COMMA , O *
after IN B-PP *
a DT B-NP *
tax-loss NN I-NP *
carry-forward NN I-NP *
COMMA , O *
on IN B-PP *
sales NNS B-NP *
of IN B-PP *
$ $ B-NP *
1.3 CD I-NP *
billion CD I-NP *S)
COMMA , O *
and CC O *
analysts NNS B-NP (S*
expect VBP B-VP *
its PRP$ B-NP (S*
results NNS I-NP *
to TO B-VP *
continue VB I-VP *
to TO I-VP *
improve VB I-VP *S)S)
. . O *S)

`` `` O (S*
The DT B-NP (S*
company NN I-NP *
turned VBD B-VP *
the DT B-NP *
corner NN I-NP *
fairly RB B-ADVP *
recently RB I-ADVP *
in IN B-PP *
profitability NN B-NP *S)
COMMA , O *
'' '' O *
said VBD B-VP *
Margo NNP B-NP *
McGlade NNP I-NP *
of IN B-PP *
PaineWebber NNP B-NP *
Inc. NNP I-NP *
COMMA , O *
who WP B-NP (S*
had VBD B-VP (S*
been VBN I-VP *
forecasting VBG I-VP *
a DT B-NP *
46 CD I-NP *
% NN I-NP *
jump NN I-NP *
in IN B-PP *
Pace NNP B-NP *
's POS B-NP *
net JJ I-NP *
income NN I-NP *
from IN B-PP *
operations NNS B-NP *
this DT B-NP *
year NN I-NP *
and CC O *
another DT B-NP *
42 CD I-NP *
% NN I-NP *
increase NN I-NP *
next JJ B-NP *
year NN I-NP *S)S)
. . O *S)

`` `` O (S*
Warehouse NNP B-NP *
productivity NN I-NP *
is VBZ B-VP *
really RB I-VP *
beginning VBG I-VP *
to TO I-VP *
take VB I-VP *
off IN B-PRT *
. . O *
'' '' O *S)

But CC O (S*
some DT B-NP *
analysts NNS I-NP *
contend VBP B-VP *
K NNP B-NP (S(S*
mart NNP I-NP *
has VBZ B-VP *
agreed VBN I-VP *
to TO I-VP *
pay VB I-VP *
too RB O *
much JJ O *
for IN B-PP *
Pace NNP B-NP *S)S)
. . O *S)

`` `` O (S*
Even RB B-SBAR (S(S*
if IN I-SBAR *
you PRP B-NP (S*
look VBP B-VP *
at IN B-PP *
it PRP B-NP *
as IN B-PP *
a DT B-NP *
turnaround NN I-NP *
situation NN I-NP *S)S)
COMMA , O *
it PRP B-NP *
's VBZ B-VP *
expensive JJ B-ADJP *S)
COMMA , O *
'' '' O *
said VBD B-VP *
Wayne NNP B-NP *
Hood NNP I-NP *
of IN B-PP *
Prudential-Bache NNP B-NP *
Securities NNP I-NP *
Inc NNP I-NP *
. . O *S)

`` `` O (S*
In IN B-PP *
my PRP$ B-NP *
opinion NN I-NP *
COMMA , O *
you PRP B-NP *
would MD B-VP *
only RB I-VP *
pay VB I-VP *
that DT B-NP *
kind NN I-NP *
of IN B-PP *
price NN B-NP *
if IN B-SBAR (S*
you PRP B-NP (S*
were VBD B-VP *
getting VBG I-VP *
a DT B-NP *
premier NN I-NP *
player NN I-NP *
in IN B-PP *
the DT B-NP *
industry NN I-NP *S)S)
. . O *
'' '' O *S)

Ms. NNP B-NP (S*
McGlade NNP I-NP *
of IN B-PP *
PaineWebber NNP B-NP *
raised VBD B-VP *
a DT B-NP *
more RBR I-NP *
fundamental JJ I-NP *
question NN I-NP *
about IN B-PP *
the DT B-NP *
deal NN I-NP *
. . O *S)

`` `` O (S*
If IN B-SBAR (S*
K NNP B-NP (S*
mart NNP I-NP *
ca MD B-VP *
n't RB I-VP *
get VB I-VP *
its PRP$ B-NP *
act NN I-NP *
together RB B-ADVP *
in IN B-PP *
discounting NN B-NP *S)S)
COMMA , O *
why WRB B-ADVP *
is VBZ B-VP (S*
it PRP B-NP *
spending NN B-NP *
time NN I-NP *
worrying VBG B-VP (S(S*
about IN B-PP *
other JJ B-NP *
growing NN I-NP *
markets NNS I-NP *S)S)S)
? . O *
'' '' O *S)

She PRP B-NP (S*
said VBD B-VP *
COMMA , O *
`` `` O (S*
I PRP B-NP *
would MD B-VP *
say VB I-VP *
K NNP B-NP (S(S*
mart NNP I-NP *
's POS B-NP *
number NN I-NP *
one CD I-NP *
job NN I-NP *
is VBZ B-VP *
to TO B-VP (S*
address VB I-VP *
its PRP$ B-NP *
market-share JJ I-NP *
loss NN I-NP *
{ -LRB- O *
in IN B-PP *
discount NN B-NP *
stores NNS I-NP *
} -RRB- O *
COMMA , O *
which WDT B-NP (S*
longer-term JJ B-NP (S*
will MD B-VP *
lead VB I-VP *
to TO B-PP *
improved VBN B-NP *
profit NN I-NP *
margins NNS I-NP *S)S)S)S)S)S)
. . O *S)

At IN B-PP (S*
that DT B-NP *
point NN I-NP *
COMMA , O *
perhaps RB O *
diversification NN O *
would MD B-VP *
be VB I-VP *
appropriate JJ B-ADJP *
. . O *
'' '' O *S)

But CC O (S*
K NNP B-NP *
mart NNP I-NP *
's POS B-NP *
Mr. NNP I-NP *
Antonini NNP I-NP *
is VBZ B-VP *
intent NN B-NP *
on IN B-PP *
pushing VBG B-VP (S*
the DT B-NP *
company NN I-NP *
into IN B-PP *
new JJ B-NP *
retail JJ I-NP *
businesses NNS I-NP *S)
. . O *S)

For IN B-PP (S*
instance NN B-NP *
COMMA , O *
K NNP B-NP *
mart NNP I-NP *
is VBZ B-VP *
opening VBG I-VP *
big JJ B-NP *
food NN I-NP *
and CC I-NP *
general JJ I-NP *
merchandise NN I-NP *
stores NNS I-NP *
COMMA , O *
called VBN B-VP *
hypermarkets NNS B-NP *
COMMA , O *
and CC O *
warehouse-type NN B-NP *
stores NNS I-NP *
specializing VBG B-VP *
in IN B-PP *
office NN B-NP *
products NNS I-NP *
and CC O *
sporting VBG B-VP *
goods NNS B-NP *
. . O *S)

It PRP B-NP (S*
also RB B-ADVP *
operates VBZ B-VP *
Waldenbooks NNP B-NP *
COMMA , O *
Pay VB B-VP *
Less RBR O *
Drug NNP O *
Stores NNPS O *
and CC O *
Builders NNP O *
Square NNP O *
home NN O *
improvement NN O *
stores NNS O *
. . O *S)

In IN B-PP (S*
composite JJ B-NP *
trading NN I-NP *
on IN B-PP *
the DT B-NP *
New NNP I-NP *
York NNP I-NP *
Stock NNP I-NP *
Exchange NNP I-NP *
COMMA , O *
K NNP B-NP *
mart NNP I-NP *
closed VBD B-VP *
yesterday NN B-NP *
at IN B-PP *
$ $ B-NP *
36 CD I-NP *
a DT B-NP *
share NN I-NP *
COMMA , O *
up IN B-ADVP *
12.5 CD B-NP *
cents NNS I-NP *
. . O *S)

Pace NNP B-NP (S*
rose VBD B-VP *
$ $ B-NP *
2.625 CD I-NP *
to TO B-VP (S*
close VB I-VP *
at IN B-PP *
$ $ B-NP *
22.125 CD I-NP *
a DT B-NP *
share NN I-NP *
in IN B-PP *
national JJ B-NP *
over-the-counter JJ I-NP *
trading NN I-NP *S)
. . O *S)

A DT B-NP (S*
K NNP I-NP *
mart NNP I-NP *
spokesman NN I-NP *
said VBD B-VP *
the DT B-NP (S(S*
acquisition NN I-NP *
would MD B-VP *
be VB I-VP *
financed VBN I-VP *
with IN B-PP *
short-term JJ B-NP *
borrowings NNS I-NP *S)S)
. . O *S)

Under IN B-PP (S*
terms NNS B-NP *
of IN B-PP *
the DT B-NP *
agreement NN I-NP *
COMMA , O *
a DT B-NP *
K NNP I-NP *
mart NNP I-NP *
subsidiary NN I-NP *
will MD B-VP *
soon RB I-VP *
make VB I-VP *
a DT B-NP *
tender NN I-NP *
offer NN I-NP *
for IN B-PP *
Pace NNP B-NP *
shares NNS I-NP *
. . O *S)

Among IN B-PP (S*
the DT B-NP *
conditions NNS I-NP *
of IN B-PP *
the DT B-NP *
offer NN I-NP *
is VBZ B-VP *
that IN B-SBAR (S*
Pace NNP B-NP (S*
shareholders NNS I-NP *
tender VBP B-VP *
a DT B-NP *
majority NN I-NP *
of IN B-PP *
the DT B-NP *
company NN I-NP *
's POS B-NP *
shares NNS I-NP *
outstanding JJ B-ADJP *S)S)
. . O *S)

The DT B-NP (S*
companies NNS I-NP *
said VBD B-VP *
Pace NNP B-NP (S(S*
would MD B-VP *
ill RB I-VP *
continue VB I-VP *
to TO I-VP *
operate VB I-VP *
under IN B-PP *
its PRP$ B-NP *
present JJ I-NP *
management NN I-NP *S)S)
. . O *S)

G. NNP B-NP (S*
William NNP I-NP *
Ryan NNP I-NP *
COMMA , O *
president NN B-NP *
of IN B-PP *
Post-Newsweek NNP B-NP *
Stations NNS I-NP *
COMMA , O *
was VBD B-VP *
named VBN I-VP *
chief JJ B-NP *
executive JJ I-NP *
officer NN I-NP *
of IN B-PP *
the DT B-NP *
unit NN I-NP *
of IN B-PP *
this DT B-NP *
media NNS I-NP *
company NN I-NP *
COMMA , O *
effective JJ B-ADJP *
Jan. NNP B-NP *
1 CD I-NP *
. . O *S)

He PRP B-NP (S(S*
will MD B-VP *
succeed VB I-VP *
Joel NNP B-NP *
Chaseman NNP I-NP *
COMMA , O *
who WP B-NP (S*
will MD B-VP (S*
remain VB I-VP *
a DT B-NP *
vice NN I-NP *
president NN I-NP *
of IN B-PP *
the DT B-NP *
company NN I-NP *
and CC O *
continue VB B-VP *
to TO I-VP *
represent VB I-VP *
Post-Newsweek NNP B-NP *
stations NNS I-NP *
in IN B-PP *
several JJ B-NP *
industry NN I-NP *
organizations NNS I-NP *S)S)S)
COMMA , O *
the DT B-NP *
company NN I-NP *
said VBD B-VP *
. . O *S)

literally RB O *
. . O *

Traders NNS B-NP (S*
nervously RB B-ADVP *
watching VBG B-VP *
their PRP$ B-NP *
Quotron NNP I-NP *
electronic-data JJ I-NP *
machines NNS I-NP *
yesterday NN I-NP *
morning NN I-NP *
were VBD B-VP *
stunned VBN I-VP *
to TO B-VP (S*
see VB I-VP *
the DT B-NP (S*
Dow NNP I-NP *
Jones NNP I-NP *
Industrial NNP I-NP *
Average NNP I-NP *
plummet VB B-VP *
99 CD B-NP *
points NNS I-NP *
in IN B-PP *
seconds NNS B-NP *S)S)
. . O *S)

A DT B-NP (S*
minute NN I-NP *
later RB B-ADVP *
it PRP B-NP *
soared VBD B-VP *
128 CD B-NP *
points NNS I-NP *
COMMA , O *
then RB O *
zoomed VBD B-VP *
back RB B-ADVP *
down RB I-ADVP *
113 CD B-NP *
points NNS I-NP *
COMMA , O *
69 CD B-NP *
below IN B-PP *
Friday NNP B-NP *
's POS B-NP *
close NN I-NP *
. . O *S)

`` `` O (S*
It PRP B-NP (S*
was VBD B-VP *
crazy JJ B-ADJP *S)
COMMA , O *
'' '' O *
said VBD B-VP *
Neil NNP B-NP *
Weisman NNP I-NP *
COMMA , O *
general JJ B-NP *
partner NN I-NP *
of IN B-PP *
Chilmark NNP B-NP *
Capital NNP I-NP *
Corp NNP I-NP *
. . O *S)

`` `` O (S*
It PRP B-NP *
was VBD B-VP *
like IN B-PP *
flying VBG B-VP (S*
without IN B-PP *
a DT B-NP *
pilot NN I-NP *
in IN B-PP *
the DT B-NP *
front NN I-NP *
of IN B-PP *
the DT B-NP *
plane NN I-NP *S)
. . O *
'' '' O *S)

But CC O (S*
those DT B-NP *
who WP B-NP (S*
said VBD B-VP (S*
`` `` O (S*
This DT B-NP *
ca MD B-VP *
n't RB I-VP *
be VB I-VP *
happening VBG I-VP *
'' '' O *S)S)S)
were VBD B-VP *
right NN B-NP *
. . O *S)

The DT B-NP (S*
Quotrons NNPS I-NP *
were VBD B-VP *
wrong JJ B-ADJP *
. . O *S)

Quotron NNP B-NP (S*
Systems NNP I-NP *
Inc. NNP I-NP *
COMMA , O *
a DT B-NP *
Citicorp NNP I-NP *
unit NN I-NP *
COMMA , O *
blamed VBD B-VP *
the DT B-NP *
30-minute JJ I-NP *
foul-up NN I-NP *
on IN B-PP *
`` `` O *
a DT B-NP *
timing NN I-NP *
problem NN I-NP *
in IN B-PP *
our PRP$ B-NP *
software NN I-NP *
'' '' O *
caused VBN B-VP *
by IN B-PP *
the DT B-NP *
enormous JJ I-NP *
early JJ I-NP *
volume NN I-NP *
-- : O *
about IN B-NP *
145 CD I-NP *
million CD I-NP *
shares NNS I-NP *
in IN B-PP *
the DT B-NP *
first JJ I-NP *
hour NN I-NP *
of IN B-PP *
New NNP B-NP *
York NNP I-NP *
Stock NNP I-NP *
Exchange NNP I-NP *
trading NN I-NP *
. . O *S)

The DT B-NP (S(S*
prices NNS I-NP *
of IN B-PP *
the DT B-NP *
individual JJ I-NP *
stocks NNS I-NP *
that WDT B-NP (S*
make VBP B-VP (S*
up IN B-PRT *
the DT B-NP *
average NN I-NP *S)S)
were VBD B-VP *
correct JJ B-ADJP *S)
COMMA , O *
Quotron NNP B-NP (S*
said VBD B-VP *S)
COMMA , O *
but CC O *
the DT B-NP (S*
average NN I-NP *
was VBD B-VP *
wrong JJ B-ADJP *S)
. . O *S)

Meanwhile RB B-ADVP (S*
COMMA , O *
there EX B-NP *
was VBD B-VP *
an DT B-NP *
awful JJ I-NP *
lot NN I-NP *
of IN B-PP *
confusion NN B-NP *
. . O *S)

At IN B-PP (S*
about IN B-NP *
10:40 CD I-NP *
a.m. NN I-NP *
on IN B-PP *
the DT B-NP *
over-the-counter JJ I-NP *
trading NN I-NP *
desk NN I-NP *
at IN B-PP *
a DT B-NP *
major JJ I-NP *
brokerage NN I-NP *
firm NN I-NP *
COMMA , O *
a DT B-NP *
veteran NN I-NP *
trader NN I-NP *
who WP B-NP (S*
buys VBZ O (S*
and CC O *
sells VBZ B-VP *
some DT B-NP *
of IN B-PP *
the DT B-NP *
most RBS I-NP *
active JJ I-NP *
stocks NNS I-NP *S)S)
looked VBD B-VP *
at IN B-PP *
a DT B-NP *
senior JJ I-NP *
official NN I-NP *
and CC O *
asked VBD B-VP *
COMMA , O *
`` `` O (S*
What WP B-NP *
's VBZ B-VP (S*
going VBG I-VP *
on RB B-PP *S)S)
? . O *S)

Is VBZ O (S*
the DT B-NP *
market NN I-NP *
up IN O *
or CC O *
down RB O *
? . O *
'' '' O *S)

At IN B-PP (S*
the DT B-NP *
time NN I-NP *
COMMA , O *
Quotron NNP B-NP *
was VBD B-VP *
reporting VBG I-VP *
that IN B-SBAR (S*
the DT B-NP (S*
industrial JJ I-NP *
average NN I-NP *
was VBD B-VP *
down RB B-ADVP *
70 CD B-NP *
points NNS I-NP *S)S)
. . O *S)

In IN B-PP (S*
fact NN B-NP *
COMMA , O *
it PRP B-NP *
was VBD B-VP *
up IN B-ADVP *
24 CD B-NP *
. . O *S)

Holly NNP B-NP (S*
Stark NNP I-NP *
COMMA , O *
a DT B-NP *
vice NN I-NP *
president NN I-NP *
who WP B-NP (S*
heads VBZ B-VP (S*
the DT B-NP *
trading NN I-NP *
desk NN I-NP *
at IN B-PP *
Dillon NNP B-NP *
Read NNP I-NP *
Capital NNP I-NP *
Corp. NNP I-NP *S)S)
COMMA , O *
said VBD B-VP *
that IN B-SBAR (S*
once RB O (S(S*
she PRP B-NP (S*
figured VBD B-VP *
out RP B-PRT *
the IN O (S(S*
Quotron NNP B-NP *
numbers NNS I-NP *
were VBD B-VP *
wrong JJ B-ADJP *S)S)S)S)
COMMA , O *
she PRP B-NP *
called VBD B-VP *
brokers NNS B-NP *
to TO B-VP (S*
tell VB I-VP *
them PRP B-NP *S)S)S)
. . O *S)

`` `` O (S*
It PRP B-NP (S*
's VBZ B-VP *
been VBN I-VP *
kind NN B-NP *
of IN B-PP *
annoying JJ O *
COMMA , O *
to TO B-VP (S*
say VB I-VP *
the DT B-NP *
least JJS I-NP *S)S)
COMMA , O *
'' '' O *
she PRP B-NP *
said VBD B-VP *
. . O *S)

To TO B-VP (S(S(S*
confuse VB I-VP *
matters NNS B-NP *
further RBR B-ADVP *S)
COMMA , O *
when WRB B-ADVP (S*
UAL NNP B-NP (S*
Corp. NNP I-NP *
stock NN I-NP *
finally RB O *
opened VBD B-VP *
on IN B-PP *
the DT B-NP *
New NNP I-NP *
York NNP I-NP *
Stock NNP I-NP *
Exchange NNP I-NP *
at IN B-PP *
11:08 CD B-NP *
a.m. NN I-NP *S)S)
COMMA , O *
the DT B-NP *
price NN I-NP *
was VBD B-VP *
listed VBN I-VP *
at IN B-PP *
$ $ B-NP *
324.75 CD I-NP *
a DT B-NP *
share NN I-NP *
COMMA , O *
up IN B-ADVP *
about RB B-NP *
$ $ I-NP *
45 CD I-NP *
from IN B-PP *
Friday NNP B-NP *S)
; : O *
in IN B-PP (S*
fact NN B-NP *
COMMA , O *
its PRP$ B-NP *
true JJ I-NP *
price NN I-NP *
was VBD B-VP *
$ $ B-NP *
224.75 CD I-NP *
COMMA , O *
down RB B-ADVP *
$ $ B-NP *
55 NN I-NP *S)
. . O *S)

That DT B-NP (S*
was VBD B-VP *
the DT B-NP *
New NNP I-NP *
York NNP I-NP *
Stock NNP I-NP *
Exchange NNP I-NP *
's POS B-NP *
blooper NN I-NP *
. . O *S)

A DT B-NP (S*
spokesman NN I-NP *
cited VBD B-VP *
a DT B-NP *
`` `` I-NP *
technical JJ I-NP *
error NN I-NP *
'' '' O *
and CC O *
declined VBD B-VP *
to TO I-VP *
elaborate VB I-VP *
. . O *S)

And CC O (S*
there EX B-NP *
were VBD B-VP *
other JJ B-NP *
blunders NNS I-NP *
. . O *S)

When WRB B-ADVP (S(S*
the DT B-NP (S*
market NN I-NP *
opened VBD B-VP *
at IN B-PP *
9:30 CD B-NP *
a.m. NN I-NP *
EST NNP B-NP *S)S)
COMMA , O *
a DT B-NP *
reporter NN I-NP *
for IN B-PP *
the DT B-NP *
Reuters NNP I-NP *
newswire NN I-NP *
miscalculated VBD B-VP *
the DT B-NP *
industrial JJ I-NP *
average NN I-NP *
's POS B-NP *
drop NN I-NP *
as IN B-PP *
a DT B-NP *
4 CD I-NP *
% NN I-NP *
decline NN I-NP *
when WRB B-ADVP (S*
it PRP B-NP (S*
really RB B-ADVP *
was VBD B-VP *
down RB O *
0.7 CD O *
% NN O *S)S)
. . O *S)

`` `` O (S*
It PRP B-NP (S*
was VBD B-VP *
a DT B-NP *
case NN I-NP *
of IN B-PP *
human JJ B-NP *
error NN I-NP *
COMMA , O *
which WDT B-NP (S*
we PRP B-NP (S*
found VBD B-VP *
almost RB I-VP *
immediately RB I-VP *
and CC I-VP *
corrected VBN I-VP *S)S)S)
COMMA , O *
'' '' O *
a DT B-NP *
spokesman NN I-NP *
for IN B-PP *
Reuter NNP B-NP *
in IN B-PP *
New NNP B-NP *
York NNP I-NP *
said VBD B-VP *
. . O *S)

Meanwhile RB B-ADVP (S*
COMMA , O *
some DT B-NP *
currency NN I-NP *
traders NNS I-NP *
at IN B-PP *
West JJ B-NP *
German JJ I-NP *
banks NNS I-NP *
in IN B-PP *
Frankfurt NNP B-NP *
said VBD B-VP *
they PRP B-NP (S(S*
sold VBD B-VP *
dollars NNS B-NP *
on IN B-PP *
the DT B-NP *
news NN I-NP *
and CC O *
had VBD B-VP *
to TO I-VP *
buy VB I-VP *
them PRP B-NP *
back RB B-ADVP *
later RB I-ADVP *
at IN B-PP *
higher JJR B-NP *
prices NNS I-NP *S)S)
. . O *S)

But CC O (S*
it PRP B-NP *
was VBD B-VP *
the DT B-NP *
Quotron NNP I-NP *
problems NNS I-NP *
that WDT B-NP (S*
had VBD O (S*
lingering VBG O *
effects NNS O *S)S)
. . O *S)

Dillon NNP B-NP (S(S*
Read NNP I-NP *
's POS B-NP *
Ms. NNP I-NP *
Stark NNP I-NP *
said VBD B-VP *
in IN B-PP *
early JJ B-NP *
afternoon NN I-NP *
that IN B-SBAR (S*
she PRP B-NP (S*
was VBD B-VP *
still RB I-VP *
viewing VBG I-VP *
prices NNS B-NP *
and CC O *
other JJ B-NP *
data NNS I-NP *
as IN B-PP *
subject NN B-NP *
to TO B-PP *
verification NN B-NP *S)S)S)
COMMA , O *
and CC O *
she PRP B-NP (S*
said VBD B-VP *
portfolio NN B-NP (S(S*
managers NNS I-NP *
continued VBD B-VP *
to TO I-VP *
question VB I-VP *
the DT B-NP *
numbers NNS I-NP *
they PRP B-NP (S(S*
saw VBD B-VP *
on IN B-PP *
the DT B-NP *
screen NN I-NP *S)S)S)S)S)
. . O *S)

It PRP B-NP (S*
was VBD B-VP *
the DT B-NP *
second JJ I-NP *
time NN I-NP *
in IN B-PP *
less JJR B-NP *
than IN I-NP *
a DT I-NP *
week NN I-NP *
that IN B-NP (S*
Quotron NNP B-NP (S*
has VBZ O *
had VBN O *
problems NNS O *
calculating VBG B-VP (S*
the DT B-NP *
industrial JJ I-NP *
average NN I-NP *S)S)S)
. . O *S)

At IN B-PP (S*
the DT B-NP *
start NN I-NP *
of IN B-PP *
trading NN B-NP *
last JJ B-NP *
Wednesday NNP I-NP *
COMMA , O *
the DT B-NP *
average NN I-NP *
appeared VBD B-VP *
to TO I-VP *
plunge VB I-VP *
more JJR B-NP *
than IN I-NP *
200 CD I-NP *
points NNS I-NP *
. . O *S)

Actually RB B-ADVP (S*
COMMA , O *
it PRP B-NP *
was VBD B-VP *
down RB O *
only RB B-NP *
a DT I-NP *
few JJ I-NP *
points NNS I-NP *
at IN B-PP *
the DT B-NP *
time NN I-NP *
. . O *S)

Quotron NNP B-NP (S*
said VBD B-VP *
that DT B-NP (S(S*
snafu NN I-NP *
COMMA , O *
which WDT B-NP (S*
lasted VBD B-VP (S*
nine CD B-NP *
minutes NNS I-NP *S)S)
COMMA , O *
resulted VBD B-VP *
from IN B-PP *
a DT B-NP *
failure NN I-NP *
to TO B-VP (S*
adjust VB I-VP *
for IN B-PP *
a DT B-NP *
4-for-1 JJ I-NP *
stock NN I-NP *
split NN I-NP *
at IN B-PP *
Philip NNP B-NP *
Morris NNP I-NP *
Cos NNP I-NP *S)S)S)
. . O *S)

A DT B-NP (S*
Quotron NNP I-NP *
spokeswoman NN I-NP *
said VBD B-VP *
recent JJ B-NP (S(S*
software NN I-NP *
changes NNS I-NP *
may MD B-VP *
have VB I-VP *
contributed VBN I-VP *
to TO B-PP *
yesterday NN B-NP *
's POS B-NP *
problems NNS I-NP *S)S)
. . O *S)

She PRP B-NP (S*
said VBD B-VP *
Quotron NNP B-NP (S(S*
switched VBD B-VP *
to TO B-PP *
a DT B-NP *
backup NN I-NP *
system NN I-NP *
until IN B-PP (S*
the DT B-NP (S*
problems NNS I-NP *
were VBD B-VP *
corrected VBN I-VP *S)S)S)S)
. . O *S)

`` `` O (S*
Today NN B-NP *
of IN B-PP *
all DT B-NP *
days NNS I-NP *
COMMA , O *
'' '' O *
she PRP B-NP *
lamented VBD B-VP *
. . O *S)

`` `` O (S*
The DT B-NP *
eyes NNS I-NP *
of IN B-PP *
the DT B-NP *
world NN I-NP *
were VBD B-VP *
watching VBG I-VP *
us PRP B-NP *
. . O *S)

Steven NNP B-NP (S*
F. NNP I-NP *
Kaplan NNP I-NP *
was VBD B-VP *
named VBN I-VP *
a DT B-NP *
senior JJ I-NP *
vice NN I-NP *
president NN I-NP *
of IN B-PP *
this DT B-NP *
graphics NNS I-NP *
equipment NN I-NP *
company NN I-NP *
. . O *S)

He PRP B-NP (S*
retains VBZ B-VP *
his PRP$ B-NP *
current JJ I-NP *
positions NNS I-NP *
as IN B-PP *
chief JJ B-NP *
strategic JJ I-NP *
officer NN I-NP *
of IN B-PP *
AM NNP B-NP *
International NNP I-NP *
and CC O *
president NN B-NP *
of IN B-PP *
AM NNP B-NP *
Ventures NNP I-NP *
. . O *S)

Houston JJ B-NP (S*
attorney NN I-NP *
Dale NNP I-NP *
Friend NNP I-NP *
COMMA , O *
representing VBG B-VP *
a DT B-NP *
plaintiff NN I-NP *
in IN B-PP *
a DT B-NP *
damage NN I-NP *
suit NN I-NP *
COMMA , O *
says VBZ B-VP *
he PRP B-NP (S(S*
has VBZ B-VP *
negotiated VBN I-VP *
a DT B-NP *
settlement NN I-NP *
that WDT B-NP (S*
will MD B-VP (S*
strike VB I-VP *
a DT B-NP *
blow NN I-NP *
for IN B-PP *
his PRP$ B-NP *
client NN I-NP *S)S)S)S)
. . O *S)

Literally RB O *
. . O *

It PRP B-NP (S*
turns VBZ B-VP *
out IN O *
Mr. NNP B-NP (S(S*
Friend NNP I-NP *
's POS B-NP *
client NN I-NP *
COMMA , O *
Machelle NNP B-NP *
Parks NNP I-NP *
of IN B-PP *
Cincinnati NNP B-NP *
COMMA , O *
did VBD O *
n't RB O *
like IN B-PP *
the DT B-NP *
way NN I-NP *
defense NN I-NP (S(S*
attorney NN I-NP *
Tom NNP I-NP *
Alexander NNP I-NP *
acted VBD B-VP *
during IN B-PP *
the DT B-NP *
legal JJ I-NP *
proceedings NNS I-NP *S)S)S)S)
. . O *S)

So RB O (S*
she PRP B-NP *
has VBZ B-VP *
agreed VBN I-VP *
to TO I-VP *
forgo VB I-VP *
monetary JJ B-NP *
damages NNS I-NP *
against IN B-PP *
Mr. NNP B-NP *
Alexander NNP I-NP *
's POS B-NP *
client NN I-NP *
in IN B-PP *
return NN B-NP *
for IN B-PP *
the DT B-NP *
right NN I-NP *
to TO B-VP (S*
punch VB I-VP *
the DT B-NP *
attorney NN I-NP *S)
. . O *S)

Ms. NNP B-NP (S*
Parks NNP I-NP *
's POS B-NP *
mother NN I-NP *
also RB B-ADVP *
gets VBZ B-VP *
to TO I-VP *
cuff VB I-VP *
Mr. NNP B-NP *
Alexander NNP I-NP *
. . O *S)

So RB O (S*
does VBZ B-VP *
Mr. NNP B-NP *
Friend NNP I-NP *
and CC O *
his PRP$ B-NP *
law NN I-NP *
partner NN I-NP *
COMMA , O *
Nick NNP B-NP *
Nichols NNP I-NP *
. . O *S)

The DT B-NP (S*
bizarre JJ I-NP *
arrangement NN I-NP *
grows VBZ B-VP *
out IN B-PP *
of IN B-PP *
Mr. NNP B-NP *
Alexander NNP I-NP *
's POS B-NP *
representation NN I-NP *
of IN B-PP *
Derr NNP B-NP *
Construction NNP I-NP *
Co. NNP I-NP *
COMMA , O *
one CD B-NP *
of IN B-PP *
several JJ B-NP *
defendants NNS I-NP *
in IN B-PP *
a DT B-NP *
wrongful JJ I-NP *
death NN I-NP *
lawsuit NN I-NP *
brought VBN B-VP *
by IN B-PP *
Ms. NNP B-NP *
Parks NNP I-NP *
COMMA , O *
the DT B-NP *
widow NN I-NP *
of IN B-PP *
a DT B-NP *
construction NN I-NP *
worker NN I-NP *
killed VBN B-VP *
in IN B-PP *
January NNP B-NP *
1987 CD I-NP *
while IN B-SBAR (S*
working VBG B-VP (S*
on IN B-PP *
a DT B-NP *
new JJ I-NP *
Houston NNP I-NP *
convention NN I-NP *
center NN I-NP *S)S)
. . O *S)

Last JJ B-NP (S*
month NN I-NP *
COMMA , O *
Mr. NNP B-NP (S*
Friend NNP I-NP *
says VBZ B-VP *S)
COMMA , O *
Mr. NNP B-NP *
Alexander NNP I-NP *
's POS B-NP *
associate NN I-NP *
agreed VBD B-VP *
that IN B-SBAR (S*
Derr NNP B-NP (S*
would MD B-VP *
pay VB I-VP *
$ $ B-NP *
50COMMA000 CD I-NP *
as IN B-PP *
part NN B-NP *
of IN B-PP *
an DT B-NP *
overall JJ I-NP *
settlement NN I-NP *S)S)
. . O *S)

But CC O (S*
Mr. NNP B-NP *
Alexander NNP I-NP *
scuttled VBD B-VP *
the DT B-NP *
deal NN I-NP *
at IN B-PP *
the DT B-NP *
last JJ I-NP *
minute NN I-NP *
COMMA , O *
angering VBG B-VP (S*
the DT B-NP *
plaintiff NN I-NP *
's POS B-NP *
side NN I-NP *S)
. . O *S)

`` `` O (S*
I PRP B-NP (S*
never RB B-ADVP *
agreed VBD B-VP *
to TO B-PP *
it PRP B-NP *S)
COMMA , O *
'' '' O *
Mr. NNP B-NP *
Alexander NNP I-NP *
says VBZ B-VP *
COMMA , O *
adding VBG B-VP (S*
that IN B-SBAR (S*
`` `` O (S*
it PRP B-NP *
's VBZ B-VP *
not RB B-ADJP *
necessary JJ I-ADJP *
to TO B-VP (S*
pay VB I-VP *
these DT B-NP *
nuisance NN I-NP *
settlements NNS I-NP *S)S)S)S)
. . O *
'' '' O *S)

When WRB B-ADVP (S(S*
Ms. NNP B-NP (S*
Parks NNP I-NP *
and CC O *
her PRP$ B-NP *
mother NN I-NP *
heard VBN B-VP *
about IN B-PP *
what WP B-NP (S*
had VBD B-VP (S*
happened VBN I-VP *S)S)S)S)
COMMA , O *
Mr. NNP B-NP (S*
Friend NNP I-NP *
says VBZ B-VP *S)
COMMA , O *
they PRP B-NP *
volunteered VBD B-VP *
that IN B-SBAR (S*
they PRP B-NP (S*
would MD B-VP *
like VB I-VP *
to TO I-VP *
give VB I-VP *
Mr. NNP B-NP *
Alexander NNP I-NP *
a DT B-NP *
good JJ I-NP *
walloping NN I-NP *S)S)
. . O *S)

Mr. NNP B-NP (S*
Friend NNP I-NP *
says VBZ B-VP *
he PRP B-NP (S(S(S*
passed VBD B-VP *
that IN B-SBAR *
along IN B-PP *
to TO B-PP *
his PRP$ B-NP *
adversary NN I-NP *S)
COMMA , O *
and CC O *
soon RB B-ADVP (S*
they PRP B-NP *
were VBD B-VP *
talking VBG I-VP *
about IN B-PP *
the DT B-NP *
ground NN I-NP *
rules NNS I-NP *
under IN B-PP (S*
which WDT B-NP *
Derr NNP B-NP (S(S*
could MD B-VP *
keep VB I-VP *
its PRP$ B-NP *
money NN I-NP *S)
and CC O *
the DT B-NP (S*
plaintiffs NNS I-NP *
could MD B-VP *
take VB I-VP *
a DT B-NP *
shot NN I-NP *
at IN B-PP *
Mr. NNP B-NP *
Alexander NNP I-NP *S)S)S)S)S)S)
. . O *S)

Although IN B-SBAR (S(S*
time NN B-NP (S*
and CC I-NP *
place NN I-NP *
have VBP B-VP *
yet RB I-VP *
to TO I-VP *
be VB I-VP *
determined VBN I-VP *S)S)
COMMA , O *
some DT B-NP *
details NNS I-NP *
are VBP B-VP *
in IN B-PP *
place NN B-NP *
. . O *S)

Mr. NNP B-NP (S*
Friend NNP I-NP *
says VBZ B-VP *
he PRP B-NP (S(S*
agreed VBD B-VP *
to TO I-VP *
strike VB I-VP *
Mr. NNP B-NP *
Alexander NNP I-NP *
above IN B-PP *
the DT B-NP *
belt NN I-NP *S)S)
. . O *S)

Ms. NNP B-NP (S(S*
Parks NNP I-NP *
and CC O *
her PRP$ B-NP *
mother NN I-NP *
indicated VBD B-VP *
they PRP B-NP (S(S*
want VBP B-VP *
to TO I-VP *
`` `` O *
catch VB B-VP *
him PRP B-NP *
unawares RB B-ADVP *
from IN B-PP *
behind IN B-NP *S)S)S)
COMMA , O *
'' '' O *
he PRP B-NP *
says VBZ B-VP *
. . O *S)

Mr. NNP B-NP (S*
Alexander NNP I-NP *
COMMA , O *
for IN B-PP *
his PRP$ B-NP *
part NN I-NP *
COMMA , O *
insisted VBD B-VP *
that IN B-SBAR (S*
the DT B-NP (S*
punchers NNS I-NP *
ca MD B-VP *
n't RB I-VP *
assign VB I-VP *
their PRP$ B-NP *
pummeling NN I-NP *
rights NNS I-NP *
to TO B-PP *
anyone NN B-NP *
else RB O *
COMMA , O *
ca MD B-VP *
n't RB I-VP *
use VB I-VP *
a DT B-NP *
blunt JJ I-NP *
instrument NN I-NP *
and CC O *
ca MD B-VP *
n't RB I-VP *
take VB I-VP *
a DT B-NP *
running VBG I-NP *
start NN I-NP *S)S)
. . O *S)

Mr. NNP B-NP (S*
Alexander NNP I-NP *
says VBZ B-VP *
he PRP B-NP (S(S*
regards VBZ B-VP *
the DT B-NP *
agreement NN I-NP *
COMMA , O *
which WDT B-NP (S*
has VBZ B-VP (S*
n't RB I-VP *
been VBN I-VP *
submitted VBN I-VP *
to TO B-PP *
a DT B-NP *
judge NN I-NP *S)S)
COMMA , O *
as IN B-SBAR *
something NN B-NP *
of IN B-PP *
a DT B-NP *
joke NN I-NP *S)S)
. . O *S)

However RB B-ADVP (S*
COMMA , O *
he PRP B-NP *
acknowledges VBZ B-VP *
they PRP B-NP (S(S*
`` `` O *
have VBP B-VP *
the DT B-NP *
option NN I-NP *
of IN B-PP *
taking VBG B-VP (S*
a DT B-NP *
swat NN I-NP *
at IN B-PP *
me PRP B-NP *S)
if IN B-SBAR (S*
they PRP B-NP (S*
really RB B-ADVP *
want VBP O *
to TO O *S)S)S)S)
. . O *
'' '' O *S)

Mr. NNP B-NP (S*
Friend NNP I-NP *
says VBZ B-VP *
his PRP$ B-NP (S(S*
side NN I-NP *
is VBZ B-VP *
`` `` O *
dead JJ O *
serious JJ O *S)S)
. . O *
'' '' O *S)

Although IN B-SBAR (S(S*
they PRP B-NP (S*
do VBP B-VP *
n't RB I-VP *
contemplate VB I-VP *
delivering VBG I-VP *
any DT O *
disabling VBG O *
blows NNS O *S)S)
COMMA , O *
he PRP B-NP *
says VBZ B-VP *
that IN B-SBAR (S*
Mr. NNP B-NP (S*
Alexander NNP I-NP *
will MD B-VP *
be VB I-VP *
asked VBN I-VP *
to TO O *
sign VB O *
a DT B-NP *
release NN I-NP *
from IN B-PP *
liability NN B-NP *
COMMA , O *
just RB O *
in IN B-PP *
case NN B-NP *S)S)
. . O *S)

After IN B-PP (S*
two CD B-NP *
years NNS I-NP *
of IN B-PP *
drought NN B-NP *
COMMA , O *
it PRP B-NP *
rained VBD B-VP *
money NN B-NP *
in IN B-PP *
the DT B-NP *
stock-index NN I-NP *
futures NNS I-NP *
markets NNS I-NP *
yesterday NN B-NP *
. . O *S)

As IN B-SBAR (S(S*
financial JJ B-NP (S*
markets NNS I-NP *
rebounded VBD B-VP *S)S)
COMMA , O *
trading NN O *
volume NN B-NP *
in IN B-PP *
the DT B-NP *
Chicago NNP I-NP *
Mercantile NNP I-NP *
Exchange NNP I-NP *
's POS B-NP *
huge JJ I-NP *
Standard NNP I-NP *
& CC I-NP *
Poor NNP I-NP *
's POS B-NP *
500 CD I-NP *
stock-index NN I-NP *
futures NNS I-NP *
pit VBP O *
soared VBD B-VP *
COMMA , O *
reaching VBG B-VP (S*
near-record JJ B-NP *
levels NNS I-NP *
for IN B-PP *
the DT B-NP *
first JJ I-NP *
time NN I-NP *
since IN B-PP *
October NNP B-NP *
1987 CD I-NP *S)
. . O *S)

The DT B-NP (S(S*
sudden JJ I-NP *
influx NN I-NP *
of IN B-PP *
liquidity NN B-NP *
enabled VBD B-VP *
several JJ B-NP (S*
traders NNS I-NP *
to TO B-VP *
reap VB I-VP *
six-figure JJ B-NP *
windfalls NNS I-NP *
in IN B-PP *
a DT B-NP *
matter NN I-NP *
of IN B-PP *
minutes NNS B-NP *
as IN B-PP (S*
prices NNS B-NP (S*
soared VBD B-VP *S)S)S)S)
COMMA , O *
traders NNS B-NP *
said VBD B-VP *
. . O *S)

`` `` O (S*
Guys NNS B-NP (S*
were VBD O *
minting VBG O *
money NN O *
in IN B-PP *
there EX B-NP *
today NN I-NP *S)
COMMA , O *
'' '' O *
said VBD B-VP *
John NNP B-NP *
Legittino NNP I-NP *
COMMA , O *
a DT B-NP *
futures NNS I-NP *
broker NN I-NP *
for IN B-PP *
Elders NNP B-NP *
Futures NNP I-NP *
Inc. NNP I-NP *
in IN B-PP *
Chicago NNP B-NP *
. . O *S)

The DT B-NP (S*
S&P NNP I-NP *
500 CD I-NP *
futures NNS I-NP *
contract VBP I-NP *
COMMA , O *
which WDT B-NP (S*
moves VBZ B-VP (S*
in IN B-PP *
fractions NNS B-NP *
of IN B-PP *
an DT B-NP *
index NN I-NP *
point NN I-NP *
under IN B-PP *
normal JJ B-NP *
conditions NNS I-NP *S)S)
COMMA , O *
jumped VBD B-VP *
two CD B-NP *
to TO I-NP *
three CD I-NP *
points NNS I-NP *
in IN B-PP *
seconds NNS B-NP *
early JJ B-NP *
yesterday NN I-NP *
after IN O *
an DT B-NP *
initial JJ I-NP *
downturn NN I-NP *
COMMA , O *
then RB B-ADVP *
moved VBD B-VP *
strongly RB B-ADVP *
higher JJR O *
the DT B-NP *
rest NN I-NP *
of IN B-PP *
the DT B-NP *
day NN I-NP *
. . O *S)

Each DT B-NP (S*
index NN I-NP *
point NN I-NP *
represents VBZ B-VP *
a DT B-NP *
$ $ I-NP *
500 CD I-NP *
profit NN I-NP *
for IN B-PP *
each DT B-NP *
S&P NNP I-NP *
500 CD I-NP *
contract NN I-NP *
held VBN B-VP *
. . O *S)

For IN B-PP (S*
the DT B-NP *
first JJ I-NP *
time NN I-NP *
since IN B-PP *
the DT B-NP *
1987 CD I-NP *
crash NN I-NP *
COMMA , O *
traders NNS B-NP *
said VBD B-VP *
that IN B-SBAR (S*
they PRP B-NP (S*
were VBD B-VP *
able JJ B-ADJP *
to TO B-VP (S*
trade VB I-VP *
several JJ B-NP *
hundred CD I-NP *
S&P NNP I-NP *
500 CD I-NP *
contracts NNS I-NP *
at IN B-PP *
a DT B-NP *
time NN I-NP *
in IN B-PP *
a DT B-NP *
highly RB I-NP *
liquid JJ I-NP *
market NN I-NP *S)S)S)
. . O *S)

Many JJ B-NP (S*
institutions NNS I-NP *
and CC O *
individual JJ B-NP *
investors NNS I-NP *
have VBP B-VP *
shied VBN I-VP *
away RB B-ADVP *
from IN B-PP *
stock-index NN B-NP *
futures NNS I-NP *
COMMA , O *
blaming VBG B-VP (S*
them PRP B-NP *
for IN B-PP *
speeding VBG B-VP (S*
the DT B-NP *
stock NN I-NP *
market NN I-NP *
crash NN I-NP *
on IN B-PP *
Black NNP B-NP *
Monday NNP I-NP *
two CD B-NP *
years NNS I-NP *
ago RB B-ADVP *S)S)
. . O *S)

Since IN B-PP (S*
the DT B-NP *
crash NN I-NP *
COMMA , O *
many JJ B-NP *
futures NNS I-NP *
traders NNS I-NP *
have VBP B-VP *
n't RB I-VP *
assumed VBN I-VP *
large JJ B-NP *
positions NNS I-NP *
for IN B-PP *
fear NN B-NP *
that IN O (S*
the DT B-NP (S*
S&P NNP I-NP *
500 CD I-NP *
market NN I-NP *
COMMA , O *
with IN B-PP *
much NN B-NP *
of IN B-PP *
its PRP$ B-NP *
customer NN I-NP *
order NN I-NP *
flow NN I-NP *
missing VBG I-NP *
COMMA , O *
would MD B-VP *
dry VB I-VP *
up IN B-PRT *
if IN B-SBAR (S*
prices NNS B-NP (S*
turned VBD B-VP *
against IN B-PP *
them PRP B-NP *S)S)S)S)
. . O *S)

More RBR B-NP (S*
than IN I-NP *
400 CD I-NP *
traders NNS I-NP *
jammed VBD B-VP *
the DT B-NP *
S&P NNP I-NP *
500 CD I-NP *
futures NNS I-NP *
pit VBP B-VP *
to TO I-VP (S*
await VB I-VP *
the DT B-NP *
opening NN I-NP *
bell NN I-NP *S)
. . O *S)

Traders NNS B-NP (S*
were VBD O *
shouting VBG O *
bids NNS O *
and CC O *
offers VBZ B-VP *
a DT B-NP *
full JJ I-NP *
five CD I-NP *
minutes NNS I-NP *
before IN B-PP *
the DT B-NP *
start NN I-NP *
of IN B-PP *
trading NN B-NP *
at IN B-PP *
8:30 CD B-NP *
am VBP O *S)

The DT B-NP (S*
contract NN I-NP *
fell VBD B-VP *
five CD B-NP *
points NNS I-NP *
at IN B-PP *
the DT B-NP *
open JJ I-NP *
to TO O *
323.85 CD B-NP *
COMMA , O *
the DT B-NP *
maximum JJ I-NP *
opening NN I-NP *
move NN I-NP *
allowed VBN B-VP *
under IN B-PP *
safeguards NNS B-NP *
adopted VBN B-VP *
by IN B-PP *
the DT B-NP *
Merc NNP I-NP *
to TO B-VP (S*
stem VB I-VP *
a DT B-NP *
market NN I-NP *
slide NN I-NP *S)
. . O *S)

But CC O (S*
several JJ B-NP *
traders NNS I-NP *
quickly RB O *
stepped VBD B-VP *
up IN O *
and CC O *
bid NN B-VP *
for IN B-PP *
contracts NNS B-NP *
COMMA , O *
driving VBG B-VP (S*
prices NNS B-NP *
sharply RB B-ADJP *
higher JJR I-ADJP *S)
. . O *S)

The DT B-NP (S*
market NN I-NP *
hovered VBD B-VP *
near IN B-PP *
Friday NNP B-NP *
's POS B-NP *
closing VBG I-NP *
price NN I-NP *
of IN B-PP *
328.85 CD B-NP *
for IN B-PP *
about IN B-NP *
a DT I-NP *
half NN I-NP *
hour NN I-NP *
COMMA , O *
moving VBG B-VP (S*
several JJ B-NP *
index NN I-NP *
points NNS I-NP *
higher JJR O *
or CC O *
lower JJR O *
in IN B-PP *
seconds NNS B-NP *S)
COMMA , O *
then RB B-ADVP *
broke VBD B-VP *
higher JJR O *
and CC O *
did VBD B-VP *
n't RB I-VP *
look VB I-VP *
back RB B-ADVP *
. . O *S)

The DT B-NP (S*
S&P NNP I-NP *
500 CD I-NP *
contract NN I-NP *
that WDT B-NP (S*
expires VBZ B-VP (S*
in IN B-PP *
December NNP B-NP *S)S)
closed VBD B-VP *
up IN B-PRT *
a DT B-NP *
record NN I-NP *
15.65 CD I-NP *
points NNS I-NP *
on IN B-PP *
volume NN B-NP *
of IN B-PP *
nearly RB B-NP *
80COMMA000 CD I-NP *
contracts NNS I-NP *
. . O *S)

`` `` O (S*
Traders NNS B-NP (S*
five CD B-NP *
feet NNS I-NP *
from IN B-PP *
each DT B-NP *
other NN I-NP *
were VBD O *
making VBG O *
bids NNS O *
and CC O *
offers VBZ B-VP *
that WDT B-NP (S*
were VBD B-VP (S*
a DT B-NP *
full JJ I-NP *
point NN I-NP *
apart RB B-ADVP *S)S)S)
COMMA , O *
'' '' O *
said VBD B-VP *
one CD B-NP *
S&P NNP I-NP *
500 CD I-NP *
broker NN I-NP *
. . O *S)

`` `` O (S*
You PRP B-NP (S*
could MD B-VP *
buy VB I-VP *
at IN B-PP *
the DT B-NP *
bid NN I-NP *
and CC O *
sell VB B-VP *
at IN B-PP *
the DT B-NP *
offer NN I-NP *
and CC O *
make VB B-VP *
a DT B-NP *
fortune NN I-NP *S)
COMMA , O *
'' '' O *
he PRP B-NP *
marveled VBD B-VP *
. . O *S)

Several JJ B-NP (S(S*
of IN B-PP *
Wall NNP B-NP *
Street NNP I-NP *
's POS B-NP *
largest JJS I-NP *
securities NNS I-NP *
firms NNS I-NP *
COMMA , O *
including VBG B-PP *
Salomon NNP B-NP *
Brothers NNP I-NP *
Inc. NNP I-NP *
and CC O *
PaineWebber NNP B-NP *
Inc. NNP I-NP *
COMMA , O *
were VBD B-VP *
also RB B-ADVP *
large JJ B-NP *
buyers NNS I-NP *S)
COMMA , O *
traders NNS B-NP *
said VBD B-VP *
. . O *S)

Salomon NNP B-NP (S(S*
Brothers NNPS I-NP *
was VBD B-VP *
among IN B-PP *
the DT B-NP *
largest JJS I-NP *
sellers NNS I-NP *
of IN B-PP *
stock-index NN B-NP *
futures NNS I-NP *
last JJ B-NP *
week NN I-NP *S)
COMMA , O *
traders NNS B-NP *
said VBD B-VP *
. . O *S)

Brokerage NN B-NP (S*
firms NNS I-NP *
as IN B-PP *
a DT B-NP *
rule NN I-NP *
do VBP B-VP *
n't RB I-VP *
comment VB I-VP *
on IN B-PP *
their PRP$ B-NP *
market NN I-NP *
activity NN I-NP *
. . O *S)

Unlike IN B-PP (S*
the DT B-NP *
week NN I-NP *
following VBG O *
Black NNP B-NP *
Monday NNP I-NP *
two CD B-NP *
years NNS I-NP *
ago RB B-ADVP *
COMMA , O *
individual JJ B-NP *
traders NNS I-NP *
in IN B-PP *
the DT B-NP *
S&P NNP I-NP *
500 CD I-NP *
pit NN I-NP *
were VBD B-VP *
also RB I-VP *
being VBG I-VP *
uncharacteristically RB B-ADJP *
circumspect JJ I-ADJP *
about IN B-PP *
their PRP$ B-NP *
one-day JJ I-NP *
profits NNS I-NP *
. . O *S)

`` `` O (S*
With IN B-PP (S*
the DT B-NP *
FBI NNP I-NP *
around IN B-PP *
here RB B-ADVP *
COMMA , O *
bragging VBG B-VP *
rights NNS B-NP *
are VBP B-VP *
a DT B-NP *
thing NN I-NP *
of IN B-PP *
the DT B-NP *
past NN I-NP *S)
COMMA , O *
'' '' O *
said VBD B-VP *
one CD B-NP *
trader NN I-NP *
COMMA , O *
referring VBG B-VP (S*
to TO B-PP *
the DT B-NP *
federal JJ I-NP *
investigation NN I-NP *
of IN B-PP *
futures NNS B-NP *
trading NN I-NP *
that IN B-NP (S*
so RB O (S*
far RB O *
has VBZ O *
resulted VBN O *
in IN B-PP *
46 CD B-NP *
indictments NNS I-NP *
lodged VBN B-VP *
against IN B-PP *
individuals NNS B-NP *
on IN B-PP *
the DT B-NP *
Merc NNP I-NP *
and CC O *
the DT B-NP *
Chicago NNP I-NP *
Board NNP I-NP *
of IN B-PP *
Trade NNP B-NP *S)S)S)
. . O *S)

The DT B-NP (S*
market NN I-NP *
for IN B-PP *
$ $ B-NP *
200 CD I-NP *
billion CD I-NP *
of IN B-PP *
high-yield JJ B-NP *
junk NN I-NP *
bonds NNS I-NP *
regained VBD B-VP *
some DT B-NP *
of IN B-PP *
its PRP$ B-NP *
footing NN I-NP *
as IN B-PP (S*
the DT B-NP (S*
Dow NNP I-NP *
Jones NNP I-NP *
Industrial NNP I-NP *
Average NNP I-NP *
rebounded VBD B-VP *
from IN B-PP *
Friday NNP B-NP *
's POS B-NP *
plunge NN I-NP *S)S)
. . O *S)

But CC O (S*
the DT B-NP *
junk NN I-NP *
recovery NN I-NP *
COMMA , O *
led VBN B-VP *
by IN B-PP *
the DT B-NP *
bellwether NN I-NP *
RJR NNP I-NP *
Holdings NNP I-NP *
bonds NNS I-NP *
COMMA , O *
was VBD B-VP *
precarious JJ B-ADJP *
. . O *S)

No DT B-NP (S(S*
trading NN I-NP *
existed VBD B-VP *
for IN B-PP *
the DT B-NP *
vast JJ I-NP *
majority NN I-NP *
of IN B-PP *
junk NN B-NP *
bonds NNS I-NP *S)
COMMA , O *
securities NNS O *
industry NN O *
officials NNS O *
said VBD B-VP *
. . O *S)

On IN B-PP (S*
Friday NNP B-NP *
COMMA , O *
trading NN B-NP *
in IN B-PP *
practically RB B-NP *
every DT I-NP *
issue NN I-NP *
ground NN I-NP *
to TO B-PP *
a DT B-NP *
halt NN I-NP *
as IN O (S*
potential JJ B-NP (S(S*
buyers NNS I-NP *
fled VBD B-VP *S)
and CC O *
brokerage NN B-NP (S*
firms NNS I-NP *
were VBD B-VP *
unwilling JJ B-ADJP *
to TO B-VP (S*
provide VB I-VP *
bid NN B-NP *
and CC I-NP *
offer NN I-NP *
prices NNS I-NP *
for IN B-PP *
most RBS B-NP *
issues NNS I-NP *S)S)S)S)
. . O *S)

`` `` O (S*
Nothing NN B-NP (S(S*
traded VBN B-VP *
on IN B-PP *
Friday NNP B-NP *S)
COMMA , O *
and CC O *
people NNS B-NP (S*
were VBD B-VP *
n't RB O *
really RB O *
sure JJ O *
where WRB B-ADVP (S*
the DT B-NP (S*
market NN I-NP *
should MD B-VP *
have VB I-VP *
opened VBN I-VP *
'' '' O *
yesterday NN O *S)S)S)S)
COMMA , O *
said VBD B-VP *
Raymond NNP B-NP *
Minella NNP I-NP *
COMMA , O *
co-head NN B-NP *
of IN B-PP *
merchant NN B-NP *
banking NN I-NP *
at IN B-PP *
Merrill NNP B-NP *
Lynch NNP I-NP *
& CC I-NP *
Co NNP I-NP *
. . O *S)

`` `` O (S*
But CC O *
we PRP B-NP *
had VBD B-VP *
a DT B-NP *
fairly RB I-NP *
active JJ I-NP *
day NN I-NP *
yesterday NN B-NP *
. . O *
'' '' O *S)

At IN B-PP (S(S*
Drexel NNP B-NP *
Burnham NNP I-NP *
Lambert NNP I-NP *
Inc. NNP I-NP *
COMMA , O *
the DT B-NP *
leading VBG I-NP *
underwriter NN I-NP *
of IN B-PP *
junk NN B-NP *
bonds NNS I-NP *
COMMA , O *
`` `` O *
I PRP B-NP *
was VBD B-VP *
prepared VBN I-VP *
to TO I-VP (S*
be VB I-VP *
in IN B-PP *
a DT B-NP *
very RB I-NP *
bad JJ I-NP *
mood NN I-NP *
tonight RB B-ADVP *S)S)
COMMA , O *
'' '' O *
said VBD B-VP *
David NNP B-NP *
Feinman NNP I-NP *
COMMA , O *
a DT B-NP *
junk NN I-NP *
bond NN I-NP *
trader NN I-NP *
. . O *S)

`` `` O (S*
Now RB B-ADVP *
COMMA , O *
I PRP B-NP *
feel VBP B-VP *
maybe RB B-ADVP (S(S*
there EX B-NP *
's VBZ B-VP *
a DT B-NP *
little JJ I-NP *
bit NN I-NP *
of IN B-PP *
euphoria NN B-NP *S)S)
. . O *
'' '' O *S)

But CC O (S*
before IN B-PP (S*
the DT B-NP (S*
stock NN I-NP *
market NN I-NP *
rebounded VBD B-VP *
from IN B-PP *
a DT B-NP *
sharp JJ I-NP *
early JJ I-NP *
sell-off NN I-NP *
yesterday NN B-NP *S)S)
COMMA , O *
he PRP B-NP (S*
said VBD B-VP *S)
COMMA , O *
`` `` O *
You PRP B-NP (S*
could MD B-VP *
n't RB I-VP *
buy VB I-VP *
{ -LRB- B-NP *
junk NN I-NP *
bonds NNS I-NP *
} -RRB- O *S)
and CC O *
you PRP B-NP (S*
could MD B-VP *
n't RB I-VP *
give VB I-VP *
them PRP B-NP *
away RB B-ADVP *S)
. . O *
'' '' O *S)

Yesterday NN B-NP (S*
's POS B-NP *
rally NN I-NP *
was VBD B-VP *
led VBN I-VP *
by IN B-PP *
RJR NNP B-NP *
Holdings NNP I-NP *
13 CD I-NP *
3\/4 CD I-NP *
% NN I-NP *
bonds NNS I-NP *
COMMA , O *
which WDT B-NP (S*
initially RB B-ADVP (S*
tumbled VBD B-VP *
three CD B-NP *
points NNS I-NP *
COMMA , O *
or CC O *
$ $ B-NP *
30 CD I-NP *
for IN B-PP *
each DT B-NP *
$ $ I-NP *
1COMMA000 CD I-NP *
face NN I-NP *
amount NN I-NP *
COMMA , O *
to TO B-PP *
96 CD B-NP *
1\/4 CD I-NP *
before IN B-PP *
rebounding VBG B-VP (S*
to TO B-PP *
99 CD B-NP *
3\/4 CD I-NP *S)S)S)
. . O *S)

Bonds NNS B-NP (S*
issued VBN B-VP *
by IN B-PP *
Kroger NNP O *
COMMA , O *
Duracell NNP B-NP *
COMMA , O *
Safeway NNP B-NP *
and CC O *
American NNP B-NP *
Standard NNP I-NP *
also RB B-ADVP *
showed VBD B-VP *
big JJ B-NP *
gains NNS I-NP *
COMMA , O *
recovering VBG B-VP (S*
almost RB B-NP *
all DT I-NP *
their PRP$ I-NP *
losses NNS I-NP *
from IN B-PP *
Friday NNP B-NP *
and CC O *
early JJ B-NP *
yesterday NN I-NP *S)
. . O *S)

But CC O (S*
traders NNS B-NP *
said VBD B-VP *
the DT B-NP (S(S*
junk NN I-NP *
bond NN I-NP *
market NN I-NP *
increasingly RB B-ADVP *
is VBZ B-VP *
separating VBG I-VP *
into IN B-PP *
a DT B-NP *
top-tier JJ I-NP *
group NN I-NP *
COMMA , O *
in IN B-PP (S*
which WDT B-NP *
trades NNS B-NP (S*
can MD B-VP *
be VB I-VP *
executed VBN I-VP *
easily RB B-ADVP *S)S)
COMMA , O *
and CC O *
a DT B-NP *
larger JJR I-NP *
group NN I-NP *
of IN B-PP *
lower-quality NN B-NP *
bonds NNS I-NP *
in IN B-PP (S*
which WDT B-NP *
liquidity NN I-NP (S*
-- : O *
or CC O *
the DT B-NP *
ability NN I-NP *
to TO B-VP (S*
trade VB I-VP *
without IN B-PP *
too RB B-NP *
much JJ I-NP *
difficulty NN I-NP *S)
-- : O *
has VBZ B-VP *
steadily RB I-VP *
deteriorated VBN I-VP *
this DT B-NP *
year NN I-NP *S)S)S)S)
. . O *S)

`` `` O (S*
Liquidity NN B-NP (S*
has VBZ B-VP *
n't RB I-VP *
returned VBN I-VP *
to TO B-PP *
the DT B-NP *
vast JJ I-NP *
middle NN I-NP *
ground NN I-NP *
of IN B-PP *
the DT B-NP *
market NN I-NP *S)
COMMA , O *
'' '' O *
said VBD B-VP *
Mr. NNP B-NP *
Minella NNP I-NP *
of IN B-PP *
Merrill NNP B-NP *
. . O *S)

`` `` O (S*
The DT B-NP (S*
deadbeats NNS I-NP *
are VBP B-VP *
still JJ B-NP *
deadbeats NNS I-NP *S)
COMMA , O *
'' '' O *
said VBD B-VP *
Mr. NNP B-NP *
Feinman NNP I-NP *
of IN B-PP *
Drexel NNP B-NP *
. . O *S)

Analysts NNS B-NP (S*
are VBP B-VP *
concerned VBN I-VP *
that IN B-SBAR (S*
much NN B-NP (S*
of IN B-PP *
the DT B-NP *
high-yield JJ I-NP *
market NN I-NP *
will MD B-VP *
remain VB I-VP *
treacherous JJ B-ADJP *
for IN B-PP *
investors NNS B-NP *S)S)
. . O *S)

Paul NNP B-NP (S*
Asquith NNP I-NP *
COMMA , O *
associate JJ B-NP *
professor NN I-NP *
at IN B-PP *
the DT B-NP *
Massachusetts NNP I-NP *
Institute NNP I-NP *
of IN B-PP *
Technology NNP B-NP *
's POS B-NP *
Sloan NNP I-NP *
School NNP I-NP *
of IN B-PP *
Management NNP B-NP *
COMMA , O *
citing VBG B-VP (S*
a DT B-NP *
pattern NN I-NP *
of IN B-PP *
junk-bond NN B-NP *
default NN I-NP *
rates NNS I-NP *
that WDT B-NP (S*
are VBP B-VP (S*
low JJ B-ADJP *
in IN B-PP *
the DT B-NP *
early JJ I-NP *
years NNS I-NP *
after IN B-PP *
issuance NN B-NP *
and CC I-NP *
rise NN I-NP *
later RB B-ADVP *S)S)S)
COMMA , O *
says VBZ B-VP *
COMMA , O *
`` `` O (S*
We PRP B-NP *
're VBP B-VP *
now RB O *
in IN B-PP *
a DT B-NP *
period NN I-NP *
where WRB B-ADVP (S*
we PRP B-NP (S*
're VBP B-VP *
starting VBG I-VP *
to TO I-VP *
see VB I-VP *
defaults NNS B-NP *
from IN B-PP *
the DT B-NP *
big JJ I-NP *
issue NN I-NP *
years NNS I-NP *
of IN B-PP *
1984 CD B-NP *
to TO B-PP *
1986 CD B-NP *S)S)S)
. . O *
'' '' O *S)

Mark NNP B-NP (S*
Bachmann NNP I-NP *
COMMA , O *
a DT B-NP *
senior JJ I-NP *
vice NN I-NP *
president NN I-NP *
at IN B-PP *
Standard NNP B-NP *
& CC I-NP *
Poor NNP I-NP *
's POS B-NP *
Corp. NNP I-NP *
COMMA , O *
confirms VBZ B-VP *
that IN B-SBAR (S*
there EX B-NP (S*
is VBZ B-VP *
`` `` O *
increasing VBG B-VP *
concern NN B-NP *
about IN B-PP *
the DT B-NP *
future NN I-NP *
liquidity NN I-NP *
of IN B-PP *
the DT B-NP *
junk NN I-NP *
bond NN I-NP *
market NN I-NP *S)S)
. . O *
'' '' O *S)

`` `` O (S*
Junk NN B-NP (S*
bonds NNS I-NP *
are VBP B-VP *
a DT B-NP *
highly RB I-NP *
stratified JJ I-NP *
market NN I-NP *S)
COMMA , O *
'' '' O *
said VBD B-VP *
Lewis NNP B-NP *
Glucksman NNP I-NP *
COMMA , O *
vice NN B-NP *
chairman NN I-NP *
of IN B-PP *
Smith NNP B-NP *
Barney NNP I-NP *
COMMA , O *
Harris NNP B-NP *
Upham NNP I-NP *
& CC I-NP *
Co NNP I-NP *
. . O *S)

`` `` O (S*
There EX B-NP *
's VBZ B-VP *
a DT B-NP *
whole JJ I-NP *
bunch NN I-NP *
of IN B-PP *
stuff NN B-NP *
that WDT B-NP (S*
's VBZ B-VP (S*
money NN B-NP *
good JJ B-ADJP *S)S)
and CC O *
a DT B-NP *
whole JJ I-NP *
bunch NN I-NP *
of IN B-PP *
stuff NN B-NP *
that WDT B-NP (S*
's VBZ B-VP (S*
not RB O *
so RB B-ADJP *
good JJ I-ADJP *S)S)
. . O *
'' '' O *S)

Analysts NNS B-NP (S*
at IN B-PP *
Standard NNP B-NP *
& CC I-NP *
Poor NNP I-NP *
's POS B-NP *
say VBP I-NP *
junk NN I-NP (S(S*
bond NN I-NP *
offerings NNS I-NP *
by IN B-PP *
`` `` O *
tightly RB O *
stretched VBD O *
'' '' O *
issuers NNS O *
seem VBP B-VP *
to TO I-VP *
be VB I-VP *
growing VBG I-VP *S)S)
. . O *S)

Almost RB O (S*
$ $ O *
8 CD O *
billion CD O *
of IN B-PP *
junk NN B-NP *
bonds NNS I-NP *
that WDT B-NP (S*
are VBP B-VP (S*
considered VBN I-VP *
untradeable JJ B-ADJP *S)S)
include VBP B-VP *
issues NNS B-NP *
from IN B-PP *
SCI NNP B-NP *
TV NN I-NP *
COMMA , O *
Gillette NNP B-NP *
Holdings NNP I-NP *
( -LRB- B-VP *
not RB I-VP *
related VBN I-VP *
to TO B-PP *
Gillette NNP B-NP *
Co. NNP I-NP *
) -RRB- I-NP *
COMMA , O *
Interco NNP B-NP *
COMMA , O *
Seaman NNP B-NP *
Furniture NNP I-NP *
COMMA , O *
Allied NNP B-NP *
Stores NNPS I-NP *
COMMA , O *
Federated NNP B-NP *
Department NNP I-NP *
Stores NNPS I-NP *
COMMA , O *
National NNP B-NP *
Gypsum NNP I-NP *
COMMA , O *
M.D.C. NNP B-NP *
Holdings NNP I-NP *
COMMA , O *
Micropolis NNP B-NP *
COMMA , O *
Leaseway NNP B-NP *
Transportation NNP I-NP *
and CC O *
Price NNP B-NP *
Communications NNP I-NP *
. . O *S)

`` `` O (S*
You PRP B-NP (S*
could MD B-VP *
still RB I-VP *
have VB I-VP *
some DT B-NP *
very RB I-NP *
bad JJ I-NP *
times NNS I-NP *
ahead RB B-ADVP *S)
COMMA , O *
'' '' O *
said VBD B-VP *
Mr. NNP B-NP *
Bachmann NNP I-NP *
. . O *S)

`` `` O (S*
It PRP B-NP *
's VBZ B-VP *
possible JJ B-ADJP *
to TO B-VP (S*
have VB I-VP *
a DT B-NP *
10 CD I-NP *
% NN I-NP *
default NN I-NP *
rate NN I-NP *
in IN B-PP *
one CD B-NP *
year NN I-NP *S)
COMMA , O *
because IN B-SBAR (S*
we PRP B-NP (S*
're VBP B-VP *
already RB I-VP *
seeing VBG I-VP *
big JJ B-NP *
problems NNS I-NP *
in IN B-PP *
the DT B-NP *
midst NN I-NP *
of IN B-PP *
a DT B-NP *
pretty RB I-NP *
strong JJ I-NP *
economy NN I-NP *S)S)
. . O *S)

I PRP B-NP (S*
'm VBP B-VP *
certainly RB B-ADVP *
not RB O *
comfortable JJ B-NP *
saying NN I-NP (S*
we PRP B-NP (S(S*
've VBP B-VP *
seen VBN I-VP *
the DT B-NP *
bottom NN I-NP *S)S)S)
. . O *
'' '' O *S)

But CC O (S*
yesterday NN B-NP *
's POS B-NP *
rally NN I-NP *
among IN B-PP *
`` `` B-NP *
good JJ I-NP *
'' '' I-NP *
junk NN I-NP *
was VBD B-VP *
a DT B-NP *
badly RB I-NP *
needed VBN I-NP *
tonic NN I-NP *
for IN B-PP *
the DT B-NP *
market NN I-NP *
. . O *S)

Many JJ B-NP (S(S*
issues NNS I-NP *
`` `` O *
bounced VBD B-VP *
off IN B-PP *
the DT B-NP *
floor NN I-NP *S)
COMMA , O *
'' '' O *
Mr. NNP B-NP (S*
Minella NNP I-NP *
said VBD B-VP *S)
COMMA , O *
and CC O *
benchmark NN B-NP (S*
junk NN I-NP *
issues NNS I-NP *
`` `` O *
recovered VBD B-VP *
all DT B-NP *
of IN B-PP *
their PRP$ B-NP *
losses NNS I-NP *
'' '' O *
from IN B-PP *
Friday NNP B-NP *
and CC O *
early JJ B-NP *
yesterday NN I-NP *S)
. . O *S)

In IN B-PP (S*
contrast NN B-NP *
COMMA , O *
he PRP B-NP (S*
says VBZ B-VP *S)
COMMA , O *
`` `` O *
The DT B-NP (S*
stock NN I-NP *
market NN I-NP *
gained VBD B-VP *
back RB B-ADVP *
only RB O *
about IN O *
half NN O *
what WP B-NP (S*
it PRP B-NP (S*
lost VBD B-VP *
Friday NNP B-NP *S)S)S)
COMMA , O *
and CC O *
the DT B-NP (S*
{ -LRB- I-NP *
government NN I-NP *
} -RRB- B-NP *
bond NN I-NP *
market NN I-NP *
lost VBD B-VP *
about IN O *
half NN B-NP *
what WP B-NP (S*
it PRP B-NP (S*
gained VBD B-VP *
Friday NNP B-NP *S)S)S)
. . O *
'' '' O *S)

Traders NNS B-NP (S*
said VBD B-VP *
yesterday NN B-NP (S(S*
's POS B-NP *
rally NN I-NP *
was VBD B-VP *
fueled VBN I-VP *
by IN B-PP *
insurance NN B-NP *
companies NNS I-NP *
looking VBG B-VP *
for IN B-PP *
bargains NNS B-NP *
after IN B-PP *
a DT B-NP *
drastic JJ I-NP *
slide NN I-NP *
in IN O *
prices VBZ B-VP *
the DT B-NP *
past JJ I-NP *
month NN I-NP *S)S)
. . O *S)

In IN B-PP (S*
addition NN B-NP *
COMMA , O *
mutual JJ B-NP *
funds NNS I-NP *
did VBD B-VP *
n't RB I-VP *
appear VB I-VP *
to TO I-VP *
be VB I-VP *
major JJ B-NP *
sellers NNS I-NP *
of IN B-PP *
high-yield JJ B-NP *
securities NNS I-NP *
as IN B-PP (S*
was VBD B-VP (S*
expected VBN I-VP *S)S)
. . O *S)

`` `` O (S*
Sometimes RB O (S*
a DT O *
shakeout NN O *
is VBZ B-VP *
healthy JJ B-ADJP *S)
COMMA , O *
'' '' O *
said VBD B-VP *
Drexel NNP B-NP *
's POS B-NP *
Mr. NNP I-NP *
Feinman NNP I-NP *
. . O *S)

`` `` O (S*
People NNS B-NP *
will MD B-VP *
learn VB I-VP *
to TO I-VP *
be VB I-VP *
more RBR B-ADJP *
circumspect JJ I-ADJP *
. . O *S)

If IN B-SBAR (S(S*
they PRP B-NP (S*
do VBP B-VP *
good JJ B-NP *
credit NN I-NP *
analysis NN I-NP *S)S)
COMMA , O *
they PRP B-NP *
will MD B-VP *
avoid VB I-VP *
the DT B-NP *
hand NN I-NP *
grenades NNS I-NP *
. . O *S)

I PRP B-NP (S*
think VBP B-VP *
the DT B-NP (S(S*
market NN I-NP *
is VBZ B-VP *
in IN B-PP *
good JJ B-NP *
shape NN I-NP *S)S)
. . O *S)

Should MD O (S*
you PRP B-NP *
really RB O *
own JJ O *
stocks NNS O *
? . O *S)

That DT B-NP (S*
's VBZ B-VP *
a DT B-NP *
question NN I-NP *
a DT B-NP (S(S*
lot NN I-NP *
of IN B-PP *
people NNS B-NP *
are VBP B-VP *
asking VBG I-VP *S)S)
COMMA , O *
following VBG B-PP *
the DT B-NP *
stock NN I-NP *
market NN I-NP *
's POS B-NP *
stunning JJ I-NP *
display NN I-NP *
of IN B-PP *
volatility NN B-NP *
. . O *S)

Whipsawed JJ O (S(S*
financially RB O *
and CC O *
emotionally RB O *
by IN B-PP *
Friday NNP B-NP *
's POS B-NP *
heartstopping JJ I-NP *
190-point JJ I-NP *
drop NN I-NP *
in IN B-PP *
the DT B-NP *
Dow NNP I-NP *
Jones NNP I-NP *
Industrial NNP I-NP *
Average NNP I-NP *
and CC O *
yesterday NN B-NP *
's POS B-NP *
88-point JJ I-NP *
rebound NN I-NP *S)
COMMA , O *
they PRP B-NP *
're VBP B-VP *
wondering VBG I-VP *
if IN B-SBAR (S*
an DT B-NP (S*
individual NN I-NP *
has VBZ B-VP *
any DT B-NP *
business NN I-NP *
being VBG B-VP (S*
in IN B-PP *
the DT B-NP *
market NN I-NP *S)S)S)
. . O *S)

The DT B-NP (S*
answer NN I-NP *
COMMA , O *
say VBP B-VP (S*
academic JJ B-NP *
researchers NNS I-NP *
COMMA , O *
money NN B-NP *
managers NNS I-NP *
and CC I-NP *
investment NN I-NP *
specialists NNS I-NP *S)
COMMA , O *
is VBZ B-VP *
yes UH B-INTJ *
-- : O *
as RB B-ADVP *
long RB I-ADVP *
as IN B-SBAR (S*
you PRP B-NP (S*
approach VBP B-VP *
the DT B-NP *
stock NN I-NP *
market NN I-NP *
as IN B-PP *
an DT B-NP *
investor NN I-NP *S)S)
. . O *S)

But CC O (S*
COMMA , O *
they PRP B-NP (S*
say VBP B-VP *S)
COMMA , O *
people NNS B-NP *
should MD B-VP *
n't RB I-VP *
try VB I-VP *
to TO I-VP *
be VB I-VP *
traders NNS B-NP *
COMMA , O *
who WP B-NP (S*
buy VBP B-VP (S*
and CC I-VP *
sell VB I-VP *
in IN B-PP *
an DT B-NP *
effort NN I-NP *
to TO B-VP (S*
ride VB I-VP *
the DT B-NP *
latest JJS I-NP *
economic JJ I-NP *
trend NN I-NP *
or CC O *
catch VB B-VP *
the DT B-NP *
next JJ I-NP *
hot JJ I-NP *
stock NN I-NP *S)S)S)
. . O *S)

The DT B-NP (S*
case NN I-NP *
for IN B-PP *
owning VBG O (S*
stocks NNS O *
over IN B-PP *
the DT B-NP *
long-term NN I-NP *S)
is VBZ B-VP *
compelling JJ B-ADJP *
. . O *S)

`` `` O (S*
If IN B-SBAR (S(S*
you PRP B-NP (S*
look VBP B-VP *
at IN O *
75 CD B-NP *
years NNS I-NP *
worth VBP B-VP *
of IN B-PP *
investment NN B-NP *
history NN I-NP *
-- : O *
including VBG B-PP *
the DT B-NP *
Great NNP I-NP *
Depression NNP I-NP *
and CC O *
every DT B-NP *
bear NN I-NP *
market NN I-NP *
since IN B-PP *
-- : O *S)S)
stocks NNS B-NP *
have VBP B-VP *
outperformed VBN I-VP *
almost JJ B-NP *
everything NN I-NP *
an DT B-NP (S(S*
individual NN I-NP *
could MD B-VP *
have VB I-VP *
owned VBN I-VP *S)S)
by IN B-PP *
a DT B-NP *
long JJ I-NP *
shot NN I-NP *S)
COMMA , O *
'' '' O *
says VBZ B-VP *
Barry NNP B-NP *
Berlin NNP I-NP *
COMMA , O *
vice NN B-NP *
president NN I-NP *
at IN B-PP *
First NNP B-NP *
Wachovia NNP I-NP *
Capital NNP I-NP *
Management NNP I-NP *
. . O *S)

A DT B-NP (S*
dollar NN I-NP *
invested VBN B-VP *
in IN B-PP *
the DT B-NP *
stock NN I-NP *
market NN I-NP *
in IN B-PP *
1926 CD B-NP *
would MD B-VP *
have VB I-VP *
grown VBN I-VP *
to TO B-PP *
$ $ B-NP *
473.29 CD I-NP *
by IN B-PP *
the DT B-NP *
end NN I-NP *
of IN B-PP *
last JJ B-NP *
June NNP I-NP *
COMMA , O *
according VBG B-PP *
to TO B-PP *
Laurence NNP B-NP *
Siegel NNP I-NP *
COMMA , O *
managing VBG B-NP *
director NN I-NP *
at IN B-PP *
Ibbotson NNP B-NP *
Associates NNP I-NP *
Inc NNP I-NP *
. . O *S)

But CC O (S*
a DT B-NP (S*
dollar NN I-NP *
invested VBN B-VP *
in IN B-PP *
long-term JJ B-NP *
bonds NNS I-NP *
in IN B-PP *
1926 CD B-NP *
would MD B-VP *
have VB I-VP *
grown VBN I-VP *
to TO B-PP *
only RB B-NP *
$ $ I-NP *
16.56 CD I-NP *S)
COMMA , O *
and CC O *
a DT B-NP (S*
dollar NN I-NP *
put NN I-NP *
in IN B-PP *
Treasury NNP B-NP *
bills NNS I-NP *
would MD B-VP *
equal VB I-VP *
a DT B-NP *
meager JJ I-NP *
$ $ I-NP *
9.29 CD I-NP *S)
. . O *S)

The DT O *
longer RB O *
the DT B-NP *
time NN I-NP *
period NN I-NP *
COMMA , O *
the DT B-NP *
less JJR O *
risk NN B-NP *
there RB O (S(S*
is NNS O *S)S)
of IN B-PP *
losing VBG O (S*
money NN O *
in IN B-PP *
the DT B-NP *
stock NN I-NP *
market NN I-NP *S)
. . O *

Over IN B-PP (S*
time NN B-NP *
COMMA , O *
the DT B-NP *
odds NNS I-NP *
increasingly RB B-ADVP *
favor VBP B-VP *
the DT B-NP *
investor NN I-NP *
with IN B-PP *
a DT B-NP *
diversified JJ I-NP *
portfolio NN I-NP *
. . O *S)

For IN B-PP (S*
instance NN B-NP *
COMMA , O *
Ken NNP B-NP *
Gregory NNP I-NP *
COMMA , O *
a DT B-NP *
San NNP I-NP *
Francisco NNP I-NP *
money NN I-NP *
manager NN I-NP *
COMMA , O *
calculates VBZ B-VP *
that IN B-SBAR (S*
if IN B-SBAR (S(S*
an DT B-NP (S*
investor NN I-NP *
holds VBZ B-VP *
a DT B-NP *
basket NN I-NP *
of IN B-PP *
stocks NNS B-NP *
that WDT B-NP (S*
tracks VBZ B-VP (S*
the DT B-NP *
Standard NNP I-NP *
& CC I-NP *
Poor NNP I-NP *
's POS B-NP *
500-stock JJ I-NP *
index NN I-NP *S)S)S)S)
COMMA , O *
the DT B-NP *
chance NN I-NP *
of IN B-PP *
losing VBG B-VP (S*
money NN B-NP *S)
is VBZ B-VP *
3 CD B-NP *
% NN I-NP *
to TO I-NP *
4 CD I-NP *
% NN I-NP *
over IN B-PP *
a DT B-NP *
10-year JJ I-NP *
period NN I-NP *
COMMA , O *
compared VBN B-PP *
with IN B-PP *
15 CD B-NP *
% NN I-NP *
over IN B-PP *
three CD B-NP *
years NNS I-NP *
and CC O *
30 CD B-NP *
% NN I-NP *
over IN B-PP *
one CD B-NP *
year NN I-NP *S)S)
. . O *S)

`` `` O (S*
If IN B-SBAR (S(S*
you PRP B-NP (S*
do VBP B-VP *
n't RB I-VP *
need VB I-VP *
the DT B-NP *
money NN I-NP *
for IN B-PP *
10 CD B-NP *
years NNS I-NP *S)S)
COMMA , O *
there EX B-NP *
's VBZ B-VP *
a DT B-NP *
clear-cut JJ I-NP *
case NN I-NP *
for IN B-PP *
sticking VBG B-VP (S*
to TO B-PP *
a DT B-NP *
steady JJ I-NP *
core NN I-NP *
of IN B-PP *
stocks NNS B-NP *S)S)
COMMA , O *
'' '' O *
Mr. NNP B-NP *
Gregory NNP I-NP *
says VBZ B-VP *
. . O *S)

Stock-market NN B-NP (S(S*
investments NNS I-NP *
also RB B-ADVP *
help VBP B-VP *
balance VB I-VP *
the DT B-NP *
other JJ I-NP *
assets NNS I-NP *
an DT B-NP (S(S*
individual NN I-NP *
owns VBZ B-VP *S)S)S)
COMMA , O *
says VBZ B-VP *
John NNP B-NP *
Blankenship NNP I-NP *
Jr. NNP I-NP *
COMMA , O *
president NN B-NP *
of IN B-PP *
the DT B-NP *
Institute NNP I-NP *
of IN B-PP *
Certified NNP B-NP *
Financial NNP I-NP *
Planners NNS I-NP *
. . O *S)

Stocks NNS B-NP (S(S*
have VBP B-VP *
a DT B-NP *
place NN I-NP *
in IN B-PP *
an DT B-NP *
investors NNS I-NP *
' POS B-NP *
portfolio NN I-NP *
along IN B-ADVP *
with IN B-PP *
real JJ B-NP *
estate NN I-NP *
COMMA , O *
bonds NNS B-NP *
COMMA , O *
international JJ B-NP *
securities NNS I-NP *
and CC I-NP *
cash NN I-NP *S)
COMMA , O *
he PRP B-NP *
says VBZ B-VP *
. . O *S)

There EX B-NP (S(S*
are VBP B-VP *
some DT B-NP *
important JJ I-NP *
caveats NNS I-NP *S)
: : O *
Before IN B-PP (S(S*
investing VBG B-VP (S*
in IN B-PP *
stocks NNS B-NP *S)
COMMA , O *
individuals NNS B-NP *
should MD B-VP *
have VB I-VP *
at IN B-NP *
least JJS I-NP *
three CD I-NP *
to TO I-NP *
six CD I-NP *
months NNS I-NP *
of IN B-PP *
living VBG O *
expenses NNS O *
set VBN B-VP *
aside RB B-ADVP *
in IN B-PP *
the DT B-NP *
bank NN I-NP *S)
COMMA , O *
most RBS B-NP *
investment NN I-NP *
advisers NNS I-NP *
say VBP B-VP *S)
. . O *S)

Individuals NNS B-NP (S*
also RB B-ADVP *
should MD B-VP *
focus VB I-VP *
on IN B-PP *
building NN B-NP (S*
equity NN I-NP *
in IN B-PP *
a DT B-NP *
home NN I-NP *
COMMA , O *
which WDT B-NP (S*
provides VBZ B-VP (S*
some DT B-NP *
protection NN I-NP *
against IN B-PP *
inflation NN B-NP *S)S)
COMMA , O *
as RB B-CONJP *
well RB I-CONJP *
as IN I-CONJP *
a DT B-NP *
nest-egg NN I-NP *
that WDT B-NP (S*
can MD B-VP (S*
be VB I-VP *
cashed VBN I-VP *
in IN B-PP *
late RB B-NP *
in IN O *
life NN O *
to TO B-VP (S*
help VB I-VP *
cover VB I-VP *
the DT B-NP *
cost NN I-NP *
of IN B-PP *
retirement NN B-NP *
living VBG I-NP *S)S)S)S)
. . O *S)

People NNS B-NP (S*
also RB B-ADVP *
should MD B-VP *
n't RB I-VP *
invest VB I-VP *
money NN B-NP *
in IN B-PP *
stocks NNS B-NP *
that IN B-SBAR (S*
they PRP B-NP (S*
'll MD B-VP *
need VB I-VP *
in IN B-PP *
the DT B-NP *
near JJ I-NP *
future NN I-NP *
-- : O *
for IN B-PP *
example NN B-NP *
COMMA , O *
for IN B-PP *
college NN B-NP *
tuition NN I-NP *
payments NNS I-NP *
or CC O *
retirement NN B-NP *
expenses NNS I-NP *S)S)
. . O *S)

`` `` O (S*
You PRP B-NP (S*
may MD B-VP *
have VB I-VP *
to TO I-VP *
sell VB I-VP *
your PRP$ B-NP *
stocks NNS I-NP *
at IN B-PP *
a DT B-NP *
time NN I-NP *
when WRB B-ADVP (S*
the DT B-NP (S*
market NN I-NP *
takes VBZ B-VP *
a DT B-NP *
plunge NN I-NP *S)S)S)
COMMA , O *
'' '' O *
says VBZ B-VP *
Mr. NNP B-NP *
Blankenship NNP I-NP *
COMMA , O *
a DT B-NP *
Del NNP I-NP *
Mar NNP I-NP *
COMMA , I-NP *
Calif. NNP I-NP *
financial JJ I-NP *
planner NN I-NP *
. . O *S)

But CC O (S(S*
once RB B-ADVP (S*
the DT B-NP (S*
basics NNS I-NP *
are VBP B-VP *
covered VBN I-VP *S)S)
COMMA , O *
`` `` O *
then RB B-ADVP *
I PRP B-NP *
would MD B-VP *
start VB I-VP *
to TO I-VP *
invest VB I-VP *
COMMA , O *
even RB B-SBAR (S*
if IN I-SBAR *
it PRP B-NP (S*
's VBZ B-VP *
as RB B-NP *
little JJ I-NP *
as IN I-NP *
$ $ I-NP *
1COMMA000 CD I-NP *S)S)S)
COMMA , O *
'' '' O *
says VBZ B-VP *
Michael NNP B-NP *
Lipper NNP I-NP *
COMMA , O *
president NN B-NP *
of IN B-PP *
Lipper NNP B-NP *
Analytical NNP I-NP *
Services NNP I-NP *
Inc NNP I-NP *
. . O *S)

He PRP B-NP (S*
says VBZ B-VP *
individuals NNS B-NP (S(S*
should MD B-VP *
consider VB I-VP *
not RB O *
just RB O *
stocks VBZ O *
COMMA , O *
but CC O *
other JJ B-NP *
long-term JJ I-NP *
investments NNS I-NP *
COMMA , O *
such JJ B-PP *
as IN I-PP *
high-quality JJ B-NP *
bonds NNS I-NP *S)S)
. . O *S)

Despite IN B-PP (S*
the DT B-NP *
strong JJ I-NP *
case NN I-NP *
for IN B-PP *
stocks NNS B-NP *
COMMA , O *
however RB B-ADVP *
COMMA , O *
most RBS B-NP *
pros NNS I-NP *
warn VBP B-VP *
that IN B-SBAR (S*
individuals NNS B-NP (S*
should MD B-VP *
n't RB I-VP *
try VB I-VP *
to TO I-VP *
profit VB I-VP *
from IN B-PP *
short-term JJ B-NP *
developments NNS I-NP *S)S)
. . O *S)

`` `` O (S*
It PRP B-NP (S*
's VBZ B-VP *
very RB B-ADJP *
difficult JJ I-ADJP *
to TO B-VP (S(S*
do VB I-VP *S)S)S)
COMMA , O *
'' '' O *
says VBZ B-VP *
Donald NNP B-NP *
Holt NNP I-NP *
COMMA , O *
a DT B-NP *
market NN I-NP *
strategist NN I-NP *
for IN B-PP *
Wedbush NNP B-NP *
Morgan NNP I-NP *
Securities NNPS I-NP *
COMMA , O *
a DT B-NP *
Los NNP I-NP *
Angeles NNP I-NP *
brokerage NN I-NP *
firm NN I-NP *
. . O *S)

`` `` O (S*
Our PRP$ B-NP (S*
markets NNS I-NP *
move VBP B-VP *
so RB B-ADVP *
fast RB I-ADVP *S)
and CC O *
they PRP B-NP (S*
are VBP B-VP *
so RB B-ADJP *
volatile JJ I-ADJP *S)
COMMA , O *
there EX B-NP (S(S*
's VBZ B-VP *
no DT B-NP *
way NN I-NP *
the DT B-NP (S(S*
average JJ I-NP *
investor NN I-NP *
can MD B-VP *
compete VB I-VP *
with IN B-PP *
the DT B-NP *
pros NNS I-NP *S)S)S)S)
. . O *
'' '' O *S)

Individual JJ B-NP (S*
investors NNS I-NP *
face VBP B-VP *
high JJ B-NP *
transaction NN I-NP *
costs NNS I-NP *
of IN B-PP *
moving VBG B-VP (S*
in IN B-PP *
and CC B-PP *
out IN B-PP *
of IN B-PP *
the DT B-NP *
market NN I-NP *S)
. . O *S)

The DT B-NP (S(S(S*
cost NN I-NP *
of IN B-PP *
executing VBG O (S*
stock NN B-NP *
orders NNS I-NP *S)
varies VBZ B-VP *
from IN B-PP *
brokerage NN B-NP *
to TO B-PP *
brokerage NN B-NP *
and CC B-PP *
with IN B-PP *
the DT B-NP *
size NN I-NP *
of IN B-PP *
the DT B-NP *
order NN I-NP *S)
COMMA , O *
but CC O *
2 CD B-NP (S*
% NN I-NP *
of IN B-PP *
the DT B-NP *
order NN I-NP *
's POS B-NP *
value NN I-NP *
is VBZ B-VP *
an DT B-NP *
average NN I-NP *S)S)
COMMA , O *
says VBZ B-VP *
Stephen NNP B-NP *
Boesel NNP I-NP *
COMMA , O *
manager NN B-NP *
of IN B-PP *
T. NNP B-NP *
Rowe NNP I-NP *
Price NNP I-NP *
's POS B-NP *
Growth NN I-NP *
and CC O *
Income NNP B-NP *
mutual JJ I-NP *
fund NN I-NP *
. . O *S)

And CC O (S*
assuming VBG B-VP (S*
their PRP$ B-NP (S(S*
first JJ I-NP *
investment NN I-NP *
is VBZ B-VP *
successful JJ B-ADJP *S)S)S)
COMMA , O *
investors NNS B-NP *
will MD B-VP *
have VB I-VP *
to TO I-VP *
pay VB I-VP *
taxes NNS B-NP *
on IN B-PP *
their PRP$ B-NP *
gains NNS I-NP *
. . O *S)

That DT B-NP (S(S*
can MD B-VP *
reduce VB I-VP *
returns NNS B-NP *
by IN B-PP *
a DT B-NP *
third JJ I-NP *
or CC I-NP *
more JJR I-NP *
COMMA , O *
once RB B-NP (S*
local JJ I-NP (S*
taxes NNS I-NP *
are VBP B-VP *
included VBN I-VP *S)S)S)
COMMA , O *
Mr. NNP B-NP *
Lipper NNP I-NP *
says VBZ B-VP *
. . O *S)

After IN B-PP (S(S*
that DT B-NP *
COMMA , O *
individual JJ B-NP *
traders NNS I-NP *
face VBP B-VP *
the DT B-NP *
risk NN I-NP *
that IN B-SBAR (S*
the DT B-NP (S*
new JJ I-NP *
investment NN I-NP *
they PRP B-NP (S(S*
choose VBP B-VP *S)S)
wo MD B-VP *
n't RB I-VP *
perform VB I-VP *
well RB B-ADVP *S)S)S)
-- : O *
so RB O *
their PRP$ B-NP (S*
trading NN I-NP *
costs NNS I-NP *
could MD B-VP *
be VB I-VP *
sustained VBN I-VP *
for IN B-PP *
nothing NN B-NP *S)
. . O *S)

`` `` O (S*
It PRP B-NP (S*
's VBZ B-VP *
very RB B-ADJP *
tough JJ I-ADJP *
for IN B-PP (S*
most RBS B-NP (S*
individuals NNS I-NP *
to TO B-VP *
out-trade VB I-VP *
the DT B-NP *
mutual JJ I-NP *
funds NNS I-NP *
or CC O *
the DT B-NP *
market NN I-NP *S)S)S)
COMMA , O *
'' '' O *
says VBZ B-VP *
Mr. NNP B-NP *
Lipper NNP I-NP *
. . O *S)

`` `` O (S*
You PRP B-NP *
should MD B-VP *
really RB I-VP *
think VB I-VP *
twice RB B-ADVP *
if IN B-SBAR (S*
you PRP B-NP (S*
think VBP B-VP *
you PRP B-NP (S(S*
can MD B-VP *
out-smart VB I-VP *
the DT B-NP *
system NN I-NP *S)S)S)S)
. . O *
'' '' O *S)

Then RB B-ADVP (S*
COMMA , O *
too RB B-ADVP *
COMMA , O *
many JJ B-NP *
individual JJ I-NP *
investors NNS I-NP *
lack VBP B-VP *
the DT B-NP *
sturdy JJ I-NP *
emotional JJ I-NP *
makeup NN I-NP *
professionals NNS I-NP (S(S*
say VBP B-VP *
is VBZ B-VP (S(S*
needed VBN I-VP *
to TO I-VP (S*
plunge VB I-VP *
in IN B-PP *
and CC B-PP *
out IN B-PP *
of IN B-PP *
the DT B-NP *
market NN I-NP *S)S)S)S)S)
. . O *S)

So RB O (S*
what WP B-NP *
's VBZ B-VP (S*
the DT B-NP *
best JJS I-NP *
way NN I-NP *
to TO B-VP (S(S*
buy VB I-VP *
stocks NNS B-NP *S)S)S)
? . O *S)

`` `` O (S*
Unless IN B-PP (S(S*
an DT B-NP (S*
individual NN I-NP *
has VBZ B-VP *
a DT B-NP *
minimum NN I-NP *
of IN B-PP *
between IN B-NP *
$ $ I-NP *
50COMMA000 CD I-NP *
and CC I-NP *
$ $ I-NP *
100COMMA000 CD I-NP *
to TO B-VP (S(S*
invest VB I-VP *
in IN B-PP *
stocks NNS B-NP *S)S)S)S)
COMMA , O *
he PRP B-NP *
's VBZ B-VP *
still RB O *
better JJR O *
off IN B-PRT *
in IN B-PP *
mutual JJ B-NP *
funds NNS I-NP *
than IN B-PP *
in IN B-PP *
individual JJ B-NP *
stocks NNS I-NP *
COMMA , O *
in IN B-PP *
terms NNS B-NP *
of IN B-PP *
getting VBG B-VP (S*
enough JJ B-NP *
attention NN I-NP *
from IN B-PP *
a DT B-NP *
competent JJ I-NP *
broker NN I-NP *S)S)
COMMA , O *
'' '' O *
says VBZ B-VP *
Mr. NNP B-NP *
Lipper NNP I-NP *
. . O *S)

Still RB B-ADVP (S(S*
COMMA , O *
he PRP B-NP (S*
adds VBZ B-VP *S)
COMMA , O *
`` `` O *
I PRP B-NP *
could MD B-VP *
see VB I-VP *
owning VBG I-VP *
both DT B-NP *
COMMA , O *
given VBN O *
that IN B-SBAR (S*
individuals NNS B-NP (S*
often RB B-ADVP *
have VBP B-VP *
an DT B-NP *
advantage NN I-NP *
over IN B-PP *
big JJ B-NP *
investors NNS I-NP *
in IN B-PP *
spotting VBG B-VP (S*
special JJ B-NP *
situations NNS I-NP *S)
based VBN O (S*
on IN B-PP *
their PRP$ B-NP *
own JJ I-NP *
insights NNS I-NP *S)S)S)S)
COMMA , O *
'' '' O *
he PRP B-NP *
adds VBZ B-VP *
. . O *S)

George NNP B-NP (S*
Douglas NNP I-NP *
COMMA , O *
first JJ B-NP *
vice NN I-NP *
president NN I-NP *
at IN B-PP *
Drexel NNP B-NP *
Burnham NNP I-NP *
Lambert NNP I-NP *
Inc. NNP I-NP *
COMMA , O *
says VBZ B-VP *
that IN B-SBAR (S*
individuals NNS B-NP (S*
have VBP B-VP *
a DT B-NP *
particular JJ I-NP *
edge NN I-NP *
now RB B-ADVP *
in IN B-PP *
`` `` O *
small JJ O *
to TO B-PP *
medium-size JJ B-NP *
niche NN I-NP *
companies NNS I-NP *
with IN B-PP *
exciting JJ B-NP *
earnings NNS I-NP *
prospects NNS I-NP *
'' '' O *
-- : O *
a DT B-NP *
traditional JJ I-NP *
stomping NN I-NP *
ground NN I-NP *
for IN B-PP *
small JJ B-NP *
investors NNS I-NP *S)S)
. . O *S)

This DT B-NP (S*
growth NN I-NP *
sector NN I-NP *
COMMA , O *
which WDT B-NP (S*
usually RB B-ADVP (S*
carries VBZ B-VP *
a DT B-NP *
price\/earnings NNS I-NP *
multiple JJ O *
about IN O *
twice RB O *
that IN B-PP *
of IN B-PP *
the DT B-NP *
Standard NNP I-NP *
& CC I-NP *
Poor NNP I-NP *
's POS B-NP *
500 CD I-NP *S)S)
COMMA , O *
happens VBZ B-VP *
to TO I-VP *
include VB I-VP *
some DT B-NP *
of IN B-PP *
the DT B-NP *
market NN I-NP *
's POS B-NP *
most RBS O *
attractive JJ O *
bargains NNS O *
right RB B-ADVP *
now RB I-ADVP *
. . O *S)

`` `` O (S*
It PRP B-NP (S*
's VBZ B-VP *
now RB O *
selling VBG O *
at IN B-PP *
a DT B-NP *
multiple NN I-NP *
about IN B-PP *
even RB O *
with IN O *
the DT B-NP *
market NN I-NP *S)
COMMA , O *
'' '' O *
says VBZ B-VP *
Mr. NNP B-NP *
Douglas NNP I-NP *
. . O *S)

Moreover RB B-ADVP (S*
COMMA , O *
Mr. NNP B-NP *
Douglas NNP I-NP *
sees VBZ B-VP *
a DT B-NP *
revival NN I-NP *
of IN B-PP *
institutional JJ B-NP *
interest NN I-NP *
in IN B-PP *
smaller JJR B-NP *
growth NN I-NP *
stocks NNS I-NP *
that WDT B-NP (S*
could MD B-VP (S*
boost VB I-VP *
the DT B-NP *
performance NN I-NP *
of IN B-PP *
these DT B-NP *
stocks NNS I-NP *
in IN B-PP *
the DT B-NP *
medium NN I-NP *
term NN I-NP *S)S)
. . O *S)

Many JJ B-NP (S(S*
big JJ I-NP *
Wall NNP I-NP *
Street NNP I-NP *
brokerage NN I-NP *
firms NNS I-NP *
who WP B-NP (S*
eliminated VBD B-VP (S*
their PRP$ B-NP *
research NN I-NP *
effort NN I-NP *
in IN B-PP *
stocks NNS B-NP *
of IN B-PP *
emerging VBG B-VP *
growth NN B-NP *
companies NNS I-NP *
a DT B-NP *
few JJ I-NP *
years NNS I-NP *
ago RB B-ADVP *S)S)
are VBP O *
now RB O *
resuming VBG O *
coverage NN O *
of IN B-PP *
this DT B-NP *
area NN I-NP *S)
COMMA , O *
he PRP B-NP *
notes VBZ B-VP *
. . O *S)

`` `` O (S*
We PRP B-NP (S*
're VBP B-VP *
seeing VBG I-VP *
a DT B-NP *
real JJ I-NP *
turnaround NN I-NP *
in IN B-PP *
interest NN B-NP *
in IN B-PP *
small JJ B-NP *
growth NN I-NP *
stocks NNS I-NP *S)
COMMA , O *
'' '' O *
he PRP B-NP *
says VBZ B-VP *
. . O *S)

The DT B-NP (S*
pros NNS I-NP *
strenuously RB B-ADVP *
advise VBP B-VP *
individuals NNS B-NP *
to TO B-VP (S*
stay VB I-VP *
away RB B-ADVP *
from IN B-PP *
the DT B-NP *
latest JJS I-NP *
investment NN I-NP *
fad NN I-NP *S)
. . O *S)

They PRP B-NP (S*
say VBP B-VP *
that DT B-NP (S(S*
's VBZ B-VP *
especially RB B-ADJP *
important JJ I-ADJP *
this DT O *
late RB O *
in IN B-PP *
the DT B-NP *
growth NN I-NP *
phase NN I-NP *
of IN B-PP *
the DT B-NP *
economic JJ I-NP *
cycle NN I-NP *
COMMA , O *
when WRB B-ADVP (S*
there EX B-NP (S*
's VBZ B-VP *
no DT B-NP *
robust JJ I-NP *
bull NN I-NP *
market NN I-NP *
to TO B-VP (S*
bail VB I-VP *
investors NNS B-NP *
out IN B-PP *
of IN B-PP *
their PRP$ B-NP *
mistakes NNS I-NP *S)S)S)S)S)
. . O *S)

Friday NNP B-NP (S(S(S*
's POS B-NP *
correction NN I-NP *
presents VBZ B-VP *
`` `` O *
a DT B-NP *
pretty RB I-NP *
good JJ I-NP *
buying NN I-NP *
opportunity NN I-NP *S)
COMMA , O *
but CC O *
let VB B-VP (S*
's POS B-NP *
not RB O *
speculate VB O *
at IN B-PP *
this DT B-NP *
point NN I-NP *
in IN B-PP *
the DT B-NP *
business NN I-NP *
cycle NN I-NP *S)S)
COMMA , O *
'' '' O *
says VBZ B-VP *
Carmine NNP B-NP *
Grigoli NNP I-NP *
COMMA , O *
chief JJ B-NP *
equity NN I-NP *
portfolio NN I-NP *
strategist NN I-NP *
at IN B-PP *
First NNP B-NP *
Boston NNP I-NP *
Corp NNP I-NP *
. . O *S)

`` `` O (S*
Buy VB B-VP (S*
stocks NNS B-NP *
on IN B-PP *
weakness NN B-NP *
for IN B-PP *
their PRP$ B-NP *
long-term JJ I-NP *
fundamentals NNS I-NP *S)
COMMA , O *
'' '' O *
he PRP B-NP *
says VBZ B-VP *
. . O *S)

In IN B-PP (S*
the DT B-NP *
long JJ I-NP *
run NN I-NP *
COMMA , O *
investment NN B-NP (S*
advisers NNS I-NP *
say VBP B-VP *S)
COMMA , O *
most RBS B-NP *
investors NNS I-NP *
will MD B-VP *
be VB I-VP *
better JJR O *
off IN O *
using VBG B-VP (S*
the DT B-NP *
dollar-cost JJ I-NP *
averaging NN I-NP *
method NN I-NP *
of IN B-PP *
buying VBG B-VP (S*
stocks NNS B-NP *S)S)
. . O *S)

In IN B-PP (S*
this DT B-NP *
method NN I-NP *
COMMA , O *
a DT B-NP *
person NN I-NP *
invests VBZ B-VP *
a DT B-NP *
regular JJ I-NP *
amount NN I-NP *
every DT B-NP *
month NN I-NP *
or CC I-NP *
quarter NN I-NP *
into IN B-PP *
the DT B-NP *
stock NN I-NP *
market NN I-NP *
whether IN B-PP (S*
the DT B-NP (S*
market NN I-NP *
is VBZ B-VP *
up IN O *
or CC O *
down RB O *S)S)
. . O *S)

That DT B-NP (S(S*
cuts VBZ B-VP *
the DT B-NP *
risk NN I-NP *S)
COMMA , O *
Mr. NNP B-NP *
Gregory NNP I-NP *
COMMA , O *
the DT B-NP *
San NNP I-NP *
Francisco NNP I-NP *
money NN I-NP *
manager NN I-NP *
COMMA , O *
points NNS B-NP *
out RB B-PRT *
. . O *S)

`` `` O (S*
When WRB B-ADVP (S(S(S*
the DT B-NP (S*
market NN I-NP *
is VBZ B-VP *
low JJ B-ADJP *S)S)
COMMA , O *
you PRP B-NP *
are VBP B-VP *
buying VBG I-VP *
more JJR B-NP *
shares NNS I-NP *S)
COMMA , O *
and CC O *
when WRB B-ADVP (S(S*
it PRP B-NP (S*
's VBZ B-VP *
high JJ B-ADJP *S)S)
COMMA , O *
you PRP B-NP *
're VBP B-VP *
buying VBG I-VP *
fewer JJR B-NP *
shares NNS I-NP *S)S)
COMMA , O *
'' '' O *
he PRP B-NP *
says VBZ B-VP *
. . O *S)

Otherwise RB B-ADVP (S(S*
COMMA , O *
if IN B-SBAR (S*
you PRP B-NP (S*
put VBP B-VP *
all DT B-NP *
your PRP$ I-NP *
money NN I-NP *
in IN B-PP *
at IN B-PP *
one CD B-NP *
time NN I-NP *S)S)
COMMA , O *
by IN B-PP *
sheer JJ B-NP *
bad JJ I-NP *
luck NN I-NP *
COMMA , O *
you PRP B-NP *
might MD B-VP *
pick VB I-VP *
a DT B-NP *
terrible JJ I-NP *
time NN I-NP *
COMMA , O *
and CC O *
have VBP B-VP *
to TO I-VP *
wait VB I-VP *
three CD B-NP *
years NNS I-NP *
to TO B-VP (S*
get VB I-VP *
even RB B-ADVP *S)S)
COMMA , O *
Mr. NNP B-NP *
Gregory NNP I-NP *
says VBZ B-VP *
. . O *S)

A DT B-NP (S(S*
disciplined VBN I-NP *
program NN I-NP *
will MD B-VP *
work VB I-VP *
the DT B-NP *
best JJS I-NP *S)
COMMA , O *
Mr. NNP B-NP *
Boesel NNP I-NP *
says VBZ B-VP *
. . O *S)

`` `` O (S*
One CD B-NP (S*
of IN B-PP *
the DT B-NP *
hardest JJS I-NP *
things NNS I-NP *
to TO B-VP (S(S*
do VB I-VP *S)S)
is VBZ B-VP *
to TO B-VP (S*
buy VB I-VP *
stocks NNS B-NP *
when WRB B-ADVP (S*
the DT B-NP (S*
market NN I-NP *
is VBZ B-VP *
down RB B-ADVP *S)S)S)S)
COMMA , O *
'' '' O *
he PRP B-NP *
says VBZ B-VP *
. . O *S)

`` `` O (S*
But CC O *
that DT B-NP *
's VBZ B-VP *
just RB O *
the DT B-NP *
time NN I-NP *
when WRB B-ADVP (S*
you PRP B-NP (S*
should MD B-VP *
be VB I-VP *
buying VBG I-VP *
them PRP B-NP *S)S)
. . O *
'' '' O *S)

Compound JJ B-NP *
annual JJ I-NP *
returns NNS I-NP *
COMMA , O *
including VBG B-PP *
price NN B-NP *
changes NNS I-NP *
and CC O *
income NN B-NP *
from IN B-PP *
interest NN B-NP *
and CC I-NP *
dividends NNS I-NP *

\* SYM O *
Actual JJ B-NP *
performance NN I-NP *
COMMA , O *
not RB B-ADVP *
annualized VBN O *

Source NN B-NP *
: : O *
Ibbotson NNP B-NP *
Associates NNP I-NP *
Inc NNP I-NP *
. . O *

The DT B-NP (S*
following VBG I-NP *
issues NNS I-NP *
were VBD B-VP *
recently RB I-VP *
filed VBN I-VP *
with IN B-PP *
the DT B-NP *
Securities NNP I-NP *
and CC I-NP *
Exchange NNP I-NP *
Commission NNP I-NP *
: : O *
Gehl NNP B-NP *
Co. NNP I-NP *
COMMA , O *
initial JJ B-NP *
public JJ I-NP *
offering NN I-NP *
of IN B-PP *
two CD B-NP *
million CD I-NP *
shares NNS I-NP *
of IN B-PP *
common JJ B-NP *
stock NN I-NP *
COMMA , O *
of IN B-PP (S*
which WDT B-NP *
1COMMA450COMMA635 CD B-NP (S(S*
shares NNS I-NP *
are VBP B-VP *
being VBG I-VP *
offered VBN I-VP *
by IN B-PP *
the DT B-NP *
company NN I-NP *S)
and CC O *
549COMMA365 CD B-NP (S*
shares NNS I-NP *
by IN B-PP *
holders NNS B-NP *S)
COMMA , O *
via IN B-PP *
Blunt NNP B-NP *
COMMA , I-NP *
Ellis NNP I-NP *
& CC I-NP *
Loewi NNP I-NP *
Inc. NNP I-NP *
and CC O *
Robert NNP B-NP *
W. NNP I-NP *
Baird NNP I-NP *
& CC I-NP *
Co NNP I-NP *S)S)
. . O *S)

Giant NNP B-NP *
Industries NNP I-NP *
Inc. NNP I-NP *
COMMA , O *
initial JJ B-NP *
public JJ I-NP *
offering NN I-NP *
of IN B-PP *
3COMMA111COMMA000 CD B-NP *
common JJ I-NP *
shares NNS I-NP *
COMMA , O *
of IN B-PP (S*
which WDT B-NP *
2COMMA425COMMA000 CD B-NP (S(S*
will MD B-VP *
be VB I-VP *
sold VBN I-VP *
by IN B-PP *
the DT B-NP *
company NN I-NP *S)
COMMA , O *
and CC O *
the DT B-NP (S*
rest NN I-NP *
by IN B-PP *
holders NNS B-NP *S)
COMMA , O *
via IN B-PP *
Shearson NNP B-NP *
Lehman NNP I-NP *
Hutton NNP I-NP *
Inc. NNP I-NP *
and CC O *
Hanifen NNP B-NP *
COMMA , O *
Imhoff NNP B-NP *
Inc NNP I-NP *S)S)
. . O *

Inefficient-Market NNP B-NP *
Fund NNP I-NP *
Inc. NNP I-NP *
COMMA , O *
initial JJ B-NP *
offering NN I-NP *
of IN B-PP *
five CD B-NP *
million CD I-NP *
common JJ I-NP *
shares NNS I-NP *
COMMA , O *
via IN B-PP *
Smith NNP B-NP *
Barney NNP I-NP *
COMMA , O *
Harris NNP B-NP *
Upham NNP I-NP *
& CC I-NP *
Co NNP I-NP *
. . O *

Jason NNP B-NP *
Overseas NNP I-NP *
Ltd. NNP I-NP *
COMMA , O *
initial JJ B-NP *
offering NN I-NP *
of IN B-PP *
four CD B-NP *
million CD I-NP *
common JJ I-NP *
shares NNS I-NP *
COMMA , O *
of IN B-PP (S*
which WDT B-NP *
3.2 CD B-NP (S(S*
million CD I-NP *
will MD B-VP *
be VB I-VP *
sold VBN I-VP *
in IN B-PP *
the DT B-NP *
U.S. NNP I-NP *S)
COMMA , O *
and CC O *
the DT B-NP (S*
balance NN I-NP *
outside IN B-PP *
the DT B-NP *
U.S. NNP I-NP *S)
COMMA , O *
via IN B-PP *
Smith NNP B-NP *
Barney NNP I-NP *
COMMA , O *
Harris NNP B-NP *
Upham NNP I-NP *
& CC I-NP *
Co. NNP I-NP *
and CC O *
Mabon NNP B-NP *
COMMA , I-NP *
Nugent NNP I-NP *
& CC I-NP *
Co NNP I-NP *S)S)
. . O *

Donald NNP B-NP (S*
Trump NNP I-NP *
COMMA , O *
who WP B-NP (S*
faced VBD B-VP (S*
rising VBG B-NP *
doubt NN I-NP *
about IN B-PP *
his PRP$ B-NP *
bid NN I-NP *
for IN B-PP *
American NNP B-NP *
Airlines NNPS I-NP *
parent NN I-NP *
AMR NNP I-NP *
Corp. NNP I-NP *
even RB B-ADVP (S*
before IN B-PP *
a DT B-NP (S*
United NNP I-NP *
Airlines NNPS I-NP *
buy-out NN I-NP *
came VBD B-VP *
apart RB B-ADVP *
Friday NNP B-NP *S)S)S)S)
COMMA , O *
withdrew VBD B-VP *
his PRP$ B-NP *
$ $ I-NP *
7.54 CD I-NP *
billion CD I-NP *
offer NN I-NP *
. . O *S)

Separately RB B-ADVP (S*
COMMA , O *
bankers NNS B-NP *
representing VBG B-VP *
the DT B-NP *
group NN I-NP *
trying VBG B-VP *
to TO I-VP *
buy VB I-VP *
United NNP B-NP *
's POS B-NP *
parent NN I-NP *
UAL NNP I-NP *
Corp. NNP I-NP *
met VBD B-VP *
with IN B-PP *
other JJ B-NP *
banks NNS I-NP *
about IN B-PP *
reviving VBG B-VP (S*
that DT B-NP *
purchase NN I-NP *
at IN B-PP *
a DT B-NP *
lower JJR I-NP *
price NN I-NP *
COMMA , O *
possibly RB B-ADVP *
around IN O *
$ $ B-NP *
250 CD I-NP *
a DT B-NP *
share NN I-NP *
COMMA , O *
or CC O *
$ $ B-NP *
5.65 CD I-NP *
billion CD I-NP *S)
. . O *S)

But CC O (S*
a DT B-NP *
lower JJR I-NP *
bid NN I-NP *
could MD B-VP *
face VB I-VP *
rejection NN B-NP *
by IN B-PP *
the DT B-NP *
UAL NNP I-NP *
board NN I-NP *
. . O *S)

Mr. NNP B-NP (S*
Trump NNP I-NP *
COMMA , O *
who WP B-NP (S*
vowed VBD B-VP (S*
Wednesday NNP B-NP *
to TO O (S*
`` `` O *
go VB B-VP *
forward RB B-ADVP *
'' '' O *
with IN B-PP *
the DT B-NP *
bid NN I-NP *S)S)S)
COMMA , O *
said VBD B-VP *
he PRP B-NP (S(S*
was VBD B-VP *
dropping VBG I-VP *
it PRP B-NP *
`` `` O *
in IN B-PP *
light NN B-NP *
of IN B-PP *
the DT B-NP *
recent JJ I-NP *
change NN I-NP *
in IN B-PP *
market NN B-NP *
conditions NNS I-NP *S)S)
. . O *
'' '' O *S)

He PRP B-NP (S*
said VBD B-VP *
he PRP B-NP (S(S*
might MD B-VP *
now RB I-VP *
sell VB I-VP *
his PRP$ B-NP *
AMR NNP I-NP *
stake NN I-NP *
COMMA , O *
buy VB B-VP *
more JJR B-NP *
shares NNS I-NP *
COMMA , O *
or CC O *
make VB B-VP *
another DT B-NP *
offer NN I-NP *
at IN B-PP *
a DT B-NP *
lower JJR I-NP *
price NN I-NP *S)S)
. . O *S)

The DT B-NP (S*
Manhattan NNP I-NP *
real-estate NN I-NP *
developer NN I-NP *
acted VBD B-VP *
after IN B-PP (S*
the DT B-NP (S*
UAL NNP I-NP *
buyers NNS I-NP *
failed VBD B-VP *
to TO I-VP *
obtain VB I-VP *
financing NN B-NP *
for IN B-PP *
their PRP$ B-NP *
earlier RBR I-NP *
$ $ I-NP *
300-a-share JJ I-NP *
bid NN I-NP *
COMMA , O *
which WDT B-NP (S*
sparked VBD B-VP (S*
a DT B-NP *
selling NN I-NP *
panic NN I-NP *
among IN B-PP *
that DT B-NP (S*
snowballed VBD B-VP (S*
into IN B-PP *
a DT B-NP *
190-point JJ I-NP *
drop NN I-NP *
Friday NNP B-NP *
in IN B-PP *
the DT B-NP *
Dow NNP I-NP *
Jones NNP I-NP *
Industrial NNP I-NP *
Average NNP I-NP *S)S)S)S)S)S)
. . O *S)

News NNS B-NP (S*
about IN B-PP *
UAL NNP B-NP *
and CC I-NP *
AMR NNP I-NP *
COMMA , O *
whose WP$ B-NP (S*
shares NNS I-NP *
never RB B-ADVP (S*
reopened VBD B-VP *
after IN B-PP (S*
trading NN B-NP (S*
was VBD B-VP *
halted VBN I-VP *
Friday NNP B-NP *
for IN B-PP *
the DT B-NP *
UAL NNP I-NP *
announcement NN I-NP *S)S)S)S)
COMMA , O *
sent VBD B-VP *
both DT B-NP (S*
stocks NNS I-NP *
nosediving VBG B-VP *
in IN B-PP *
composite JJ B-NP *
trading NN I-NP *
on IN B-PP *
the DT B-NP *
New NNP I-NP *
York NNP I-NP *
Stock NNP I-NP *
Exchange NNP I-NP *S)
. . O *S)

UAL NNP B-NP (S(S*
tumbled VBD B-VP *
$ $ B-NP *
56.875 CD I-NP *
to TO B-PP *
$ $ B-NP *
222.875 CD I-NP *
on IN B-PP *
volume NN B-NP *
of IN B-PP *
2.3 CD B-NP *
million CD I-NP *
shares NNS I-NP *S)
COMMA , O *
and CC O *
AMR NNP B-NP (S*
declined VBN B-VP *
by IN B-PP *
$ $ B-NP *
22.125 CD I-NP *
to TO I-NP *
$ $ I-NP *
76.50 CD I-NP *
as IN B-PP (S*
4.7 CD B-NP (S*
million CD I-NP *
shares NNS I-NP *
changed VBD B-VP *
hands NNS B-NP *S)S)S)
. . O *S)

Together RB B-ADVP (S(S*S)
COMMA , O *
the DT B-NP *
two CD I-NP *
stocks NNS I-NP *
wreaked VBD B-VP *
havoc NN B-NP *
among IN B-PP *
takeover NN B-NP *
stock NN I-NP *
traders NNS I-NP *
COMMA , O *
and CC O *
caused VBD B-VP *
a DT B-NP *
7.3 CD I-NP *
% NN I-NP *
drop NN I-NP *
in IN B-PP *
the DT B-NP *
Dow NNP I-NP *
Jones NNP I-NP *
Transportation NNP I-NP *
Average NNP I-NP *
COMMA , O *
second JJ B-ADJP *
in IN B-PP *
size NN B-NP *
only RB B-ADVP *
to TO B-PP *
the DT B-NP *
stock-market NN I-NP *
crash NN I-NP *
of IN B-PP *
Oct. NNP B-NP *
19 CD I-NP *
COMMA , I-NP *
1987 CD I-NP *
. . O *S)

Some DT B-NP (S*
said VBD B-VP *
Friday NNP B-NP (S(S*
's POS B-NP *
market NN I-NP *
debacle NN I-NP *
had VBD B-VP *
given VBN I-VP *
Mr. NNP B-NP *
Trump NNP I-NP *
an DT B-NP *
excuse NN I-NP *
to TO B-VP (S*
bail VB I-VP *
out IN B-PP *
of IN B-PP *
an DT B-NP *
offer NN I-NP *
that WDT B-NP (S*
showed VBD B-VP (S*
signs NNS B-NP *
of IN B-PP *
stalling VBG B-VP *
even RB B-PP (S*
before IN I-PP *
problems NNS B-NP (S*
emerged VBD B-VP *
with IN B-PP *
the DT B-NP *
UAL NNP I-NP *
deal NN I-NP *S)S)S)S)S)S)S)
. . O *S)

After IN B-PP (S*
reaching VBG B-VP (S*
an DT B-NP *
intraday JJ I-NP *
high NN I-NP *
of IN B-PP *
$ $ B-NP *
107.50 CD I-NP *
the DT B-NP *
day NN I-NP *
Mr. NNP B-NP (S(S*
Trump NNP I-NP *
disclosed VBD B-VP *
his PRP$ B-NP *
bid NN I-NP *S)S)
Oct. NNP B-NP *
5 NN I-NP *S)
COMMA , O *
AMR NNP B-NP *
's POS B-NP *
stock NN I-NP *
had VBD B-VP *
retreated VBN I-VP *
as RB O *
low JJ O *
as IN O *
$ $ O *
97.75 CD O *
last JJ B-NP *
week NN I-NP *
. . O *S)

Some DT B-NP (S*
takeover NN I-NP *
stock NN I-NP *
traders NNS I-NP *
had VBD B-VP *
been VBN I-VP *
betting VBG I-VP *
against IN B-PP *
Mr. NNP B-NP *
Trump NNP I-NP *
because IN B-SBAR (S*
he PRP B-NP (S*
has VBZ B-VP *
a DT B-NP *
record NN I-NP *
of IN B-PP *
disclosing VBG O (S*
stakes NNS B-NP *
in IN B-PP *
companies NNS B-NP *
that WDT B-NP (S*
are VBP B-VP (S*
potential JJ B-NP *
takeover NN I-NP *
targets NNS I-NP *S)S)S)
COMMA , O *
then RB O *
selling VBG B-VP (S*
at IN B-PP *
a DT B-NP *
profit NN I-NP *
without IN B-PP *
making VBG B-VP (S*
a DT B-NP *
bid NN I-NP *S)S)S)S)
. . O *S)

`` `` O (S*
He PRP B-NP (S*
still RB B-ADVP *
has VBZ B-VP *
n't RB I-VP *
proven VBN I-VP *
his PRP$ B-NP *
mettle NN I-NP *
as IN B-PP *
a DT B-NP *
big-league JJ I-NP *
take-out NN I-NP *
artist NN I-NP *S)
COMMA , O *
'' '' O *
said VBD B-VP *
airline NN B-NP *
analyst NN I-NP *
Kevin NNP I-NP *
Murphy NNP I-NP *
of IN B-PP *
Morgan NNP B-NP *
Stanley NNP I-NP *
& CC I-NP *
Co NNP I-NP *
. . O *S)

`` `` O (S*
He PRP B-NP *
's VBZ B-VP *
done VBN I-VP *
this DT B-NP *
thing NN I-NP *
where WRB B-ADVP (S*
he PRP B-NP (S*
'll MD B-VP *
buy VB I-VP *
a DT B-NP *
little JJ I-NP *
bit NN I-NP *
of IN B-PP *
a DT B-NP *
company NN I-NP *
and CC O *
then JJ O *
trade NN O *
out IN B-PP *
of IN B-PP *
it PRP B-NP *S)S)
. . O *S)

He PRP B-NP (S*
's VBZ B-VP *
written VBN I-VP *
this DT B-NP *
book NN I-NP *
COMMA , O *
` `` O *
The DT B-NP *
Art NNP I-NP *
of IN B-PP *
the DT B-NP *
Deal NNP I-NP *
. . O *
' '' O *S)

Why WRB B-ADVP (S*
does VBZ O *
n't RB O *
he PRP B-NP (S*
just RB B-ADVP *
follow VBP B-VP *
through IN O *
on IN B-PP *
one CD B-NP *
of IN B-PP *
these DT B-NP *
things NNS I-NP *S)
? . O *
'' '' O *S)

Mr. NNP B-NP (S*
Trump NNP I-NP *
withdrew VBD B-VP *
his PRP$ B-NP *
bid NN I-NP *
before IN B-PP (S*
the DT B-NP (S*
AMR NNP I-NP *
board NN I-NP *
COMMA , O *
which WDT B-NP (S*
is VBZ B-VP (S*
due JJ B-ADJP *
to TO B-VP (S*
meet VB I-VP *
tomorrow NN B-NP *S)S)S)
COMMA , O *
ever RB O *
formally RB O *
considered VBN O *
it PRP B-NP *S)S)
. . O *S)

AMR NNP B-NP (S*
had VBD B-VP *
weighed VBN I-VP *
a DT B-NP *
wide JJ I-NP *
range NN I-NP *
of IN B-PP *
possible JJ B-NP *
responses NNS I-NP *
COMMA , O *
from IN B-PP *
flat JJ B-NP *
rejection NN I-NP *
to TO B-PP *
recapitalizations NNS B-NP *
and CC O *
leveraged JJ B-NP *
buy-outs NNS I-NP *
that WDT B-NP (S*
might MD B-VP (S*
have VB I-VP *
included VBN I-VP *
either DT B-NP *
employees NNS I-NP *
COMMA , O *
a DT B-NP *
friendlier JJR I-NP *
buyer NN I-NP *
such JJ B-PP *
as IN I-PP *
Texas NNP B-NP *
billionaire NN I-NP *
Robert NNP I-NP *
Bass NNP I-NP *
COMMA , O *
or CC O *
both DT B-NP *S)S)
. . O *S)

AMR NNP B-NP (S*
had VBD B-VP *
also RB I-VP *
sought VBN I-VP *
to TO I-VP *
foil VB I-VP *
Mr. NNP B-NP *
Trump NNP I-NP *
in IN B-PP *
Congress NNP B-NP *
by IN B-PP *
lobbying VBG B-VP (S*
for IN B-PP *
legislation NN B-NP *
that WDT B-NP (S*
would MD B-VP (S*
have VB I-VP *
bolstered VBN I-VP *
the DT B-NP *
authority NN I-NP *
of IN B-PP *
the DT B-NP *
Transportation NNP I-NP *
Department NNP I-NP *
to TO B-VP (S*
reject VB I-VP *
airline NN B-NP *
buy-outs NNS I-NP *S)S)S)S)
. . O *S)

Yesterday NN B-NP (S*
COMMA , O *
Mr. NNP B-NP *
Trump NNP I-NP *
tried VBD B-VP *
to TO I-VP *
put VB I-VP *
the DT B-NP *
blame NN I-NP *
for IN B-PP *
the DT B-NP *
collapse NN I-NP *
of IN B-PP *
the DT B-NP *
UAL NNP I-NP *
deal NN I-NP *
on IN B-PP *
Congress NNP B-NP *
COMMA , O *
saying VBG B-VP (S*
it PRP B-NP (S(S*
was VBD B-VP *
rushing VBG I-VP *
through IN B-PP *
a DT B-NP *
bill NN I-NP *
to TO B-VP (S*
protect VB I-VP *
AMR NNP B-NP *
executives NNS I-NP *S)S)S)S)
. . O *S)

`` `` O (S*
I PRP B-NP (S*
believe VBP B-VP *
that IN B-SBAR (S*
the DT B-NP (S*
perception NN I-NP *
that DT B-NP (S*
legislation NN I-NP (S*
in IN B-PP *
this DT B-NP *
area NN I-NP *
may MD B-VP *
be VB I-VP *
hastily RB O *
approved VBN O *S)S)
contributed VBN O *
to TO B-PP *
the DT B-NP *
collapse NN I-NP *
of IN B-PP *
the DT B-NP *
UAL NNP I-NP *
transaction NN I-NP *
COMMA , O *
and CC O *
the DT B-NP *
resulting VBG I-NP *
disruption NN I-NP *
in IN B-PP *
the DT B-NP *
financial JJ I-NP *
markets NNS I-NP *
experienced VBD B-VP *
this DT B-NP *
past JJ I-NP *
Friday NNP I-NP *S)S)S)
COMMA , O *
'' '' O *
Mr. NNP B-NP *
Trump NNP I-NP *
wrote VBD B-VP *
members NNS B-NP *
of IN B-PP *
Congress NNP B-NP *
. . O *S)

AMR NNP B-NP (S(S*
declined VBD B-VP *
to TO I-VP *
comment VB I-VP *S)
COMMA , O *
and CC O *
Mr. NNP B-NP (S*
Trump NNP I-NP *
did VBD B-VP *
n't RB I-VP *
respond VB I-VP *
to TO B-PP *
requests NNS B-NP *
for IN B-PP *
interviews NNS B-NP *S)
. . O *S)

Mr. NNP B-NP (S*
Trump NNP I-NP *
never RB B-ADVP *
said VBD B-VP *
how WRB B-NP (S(S*
much JJ I-NP *
AMR NNP O *
stock NN O *
he PRP B-NP (S*
had VBD B-VP *
bought VBN I-VP *S)S)
COMMA , O *
only RB B-SBAR *
that IN I-SBAR (S*
his PRP$ B-NP (S*
holdings NNS I-NP *
were VBD B-VP *
`` `` O *
substantial JJ B-ADJP *S)S)S)
. . O *
'' '' O *S)

However RB B-ADVP (S*
COMMA , O *
he PRP B-NP *
only RB B-ADVP *
received VBD B-VP *
federal JJ B-NP *
clearance NN I-NP *
to TO B-VP (S*
buy VB I-VP *
more JJR B-NP *
than IN I-NP *
$ $ I-NP *
15 CD I-NP *
million CD I-NP *
of IN B-PP *
the DT B-NP *
stock NN I-NP *
on IN B-PP *
Sept. NNP B-NP *
20 CD I-NP *
COMMA , O *
when WRB B-ADVP (S*
the DT B-NP (S*
price NN I-NP *
rose VBD B-VP *
$ $ B-NP *
2 CD I-NP *
a DT B-NP *
share NN I-NP *
to TO B-PP *
$ $ B-NP *
78.50 CD I-NP *S)S)S)
. . O *S)

Between IN B-PP (S*
then RB B-NP *
and CC O *
his PRP$ B-NP *
bid NN I-NP *
on IN B-PP *
Oct. NNP B-NP *
5 NN I-NP *
COMMA , O *
the DT B-NP *
price NN I-NP *
fluctuated VBD B-VP *
between IN B-NP *
$ $ I-NP *
75.625 CD I-NP *
and CC I-NP *
$ $ I-NP *
87.375 CD I-NP *
. . O *S)

In IN B-PP (S*
an DT B-NP *
attempt NN I-NP *
to TO B-VP (S*
persuade VB I-VP *
investors NNS B-NP *
that IN O (S*
his PRP$ B-NP (S*
bid NN I-NP *
was VBD O *
n't RB O *
just RB O *
`` `` O *
a DT B-NP *
stock NN I-NP *
play NN I-NP *S)S)S)
COMMA , O *
'' '' O *
Mr. NNP B-NP *
Trump NNP I-NP *
promised VBD B-VP *
last JJ B-NP *
week NN I-NP *
to TO B-VP (S*
notify VB I-VP *
the DT B-NP *
market NN I-NP *
before IN B-PP *
selling VBG B-VP (S*
any DT B-NP *
shares NNS I-NP *S)S)
. . O *S)

AMR NNP B-NP (S*
was VBD B-VP *
trading VBG I-VP *
at IN B-PP *
around IN B-NP *
$ $ I-NP *
84 CD I-NP *
yesterday NN I-NP *
before IN B-PP *
his PRP$ B-NP *
withdrawal NN I-NP *
announcement NN I-NP *
COMMA , O *
then RB B-ADVP *
immediately RB I-ADVP *
fell VBD B-VP *
to TO B-PP *
about RB B-NP *
$ $ I-NP *
76 CD I-NP *
. . O *S)

Assuming VBG B-VP (S(S*
that IN B-SBAR (S*
he PRP B-NP (S*
paid VBD B-VP *
a DT B-NP *
rough JJ I-NP *
average JJ I-NP *
price NN I-NP *
of IN B-PP *
$ $ B-NP *
80 CD I-NP *
a DT B-NP *
share NN I-NP *S)S)
COMMA , O *
and CC O *
assuming VBG B-VP *
he PRP B-NP (S(S*
did VBD B-VP *
n't RB I-VP *
sell VB I-VP *
before IN B-PP (S*
his PRP$ B-NP (S*
announcement NN I-NP *
reached VBD B-VP *
the DT B-NP *
market NN I-NP *S)S)S)S)S)
COMMA , O *
Mr. NNP B-NP *
Trump NNP I-NP *
could MD B-VP *
be VB I-VP *
sitting VBG I-VP *
with IN B-PP *
a DT B-NP *
modest JJ I-NP *
loss NN I-NP *
with IN B-PP *
the DT B-NP *
stock NN I-NP *
at IN B-PP *
$ $ B-NP *
76.50 CD I-NP *
. . O *S)

Some DT B-NP (S*
analysts NNS I-NP *
said VBD B-VP *
AMR NNP B-NP (S(S*
Chairman NNP I-NP *
Robert NNP I-NP *
Crandall NNP I-NP *
might MD B-VP *
seize VB I-VP *
the DT B-NP *
opportunity NN I-NP *
presented VBN B-VP *
by IN B-PP *
the DT B-NP *
stock NN I-NP *
price NN I-NP *
drop NN I-NP *
to TO B-VP (S*
protect VB I-VP *
the DT B-NP *
nation NN I-NP *
's POS B-NP *
largest JJS I-NP *
airline NN I-NP *
with IN B-PP *
a DT B-NP *
defensive JJ I-NP *
transaction NN I-NP *
COMMA , O *
such JJ B-PP *
as IN I-PP *
the DT B-NP *
sale NN I-NP *
of IN B-PP *
stock NN B-NP *
to TO B-PP *
a DT B-NP *
friendly JJ I-NP *
holder NN I-NP *
or CC I-NP *
company NN I-NP *
employees NNS I-NP *S)S)S)
. . O *S)

However RB B-ADVP (S*
COMMA , O *
other JJ B-NP *
knowledgeable JJ I-NP *
observers NNS I-NP *
said VBD B-VP *
they PRP B-NP (S(S*
believed VBD B-VP *
Mr. NNP B-NP (S(S*
Crandall NNP I-NP *
and CC O *
the DT B-NP *
AMR NNP I-NP *
board NN I-NP *
might MD B-VP *
well RB I-VP *
decide VB I-VP *
to TO I-VP *
tough VB I-VP *
it PRP B-NP *
out IN B-PP *
without IN B-PP *
taking VBG B-VP (S*
any DT B-NP *
extra JJ I-NP *
steps NNS I-NP *S)S)S)S)S)
. . O *S)

Some DT B-NP (S*
analysts NNS I-NP *
said VBD B-VP *
they PRP B-NP (S(S*
believed VBD B-VP *
Mr. NNP B-NP (S(S*
Trump NNP I-NP *
COMMA , O *
whose WP$ B-NP (S*
towering JJ I-NP *
ego NN I-NP *
had VBD B-VP (S*
been VBN I-VP *
viewed VBN I-VP *
by IN B-PP *
some DT B-NP *
as IN B-PP *
a DT B-NP *
reason NN I-NP *
to TO B-VP (S*
believe VB I-VP *
he PRP B-NP (S(S*
would MD O *
n't RB O *
back RB O *
out IN B-ADVP *S)S)S)S)S)
COMMA , O *
might MD B-VP *
come VB I-VP *
back RB B-ADVP *
with IN B-PP *
a DT B-NP *
lower JJR I-NP *
bid NN I-NP *S)S)S)S)
. . O *S)

Ray NNP B-NP (S*
Neidl NNP I-NP *
of IN B-PP *
Dillon NNP B-NP *
Read NNP I-NP *
& CC I-NP *
Co. NNP I-NP *
said VBD B-VP *
Mr. NNP B-NP (S(S*
Trump NNP I-NP *
`` `` O *
is VBZ B-VP *
stepping VBG I-VP *
back RB B-ADVP *
and CC O *
waiting VBG B-VP *
for IN B-SBAR (S*
the DT B-NP (S*
dust NN I-NP *
to TO B-VP *
settle VB I-VP *S)S)S)S)
. . O *S)

I PRP B-NP (S*
'm VBP B-VP *
sure JJ B-ADJP *
he PRP B-NP (S(S*
still RB B-ADVP *
wants VBZ B-VP *
AMR NNP B-NP *S)S)
. . O *
'' '' O *S)

But CC O (S*
others NNS B-NP *
remained VBD B-VP *
skeptical JJ B-ADJP *
. . O *S)

`` `` O (S*
I PRP B-NP (S*
was VBD B-VP *
never RB O *
sure JJ O *
Donald NNP O (S(S*
Trump NNP O *
really RB B-ADVP *
wanted VBD B-VP *
to TO I-VP *
take VB I-VP *
AMR NNP B-NP *S)S)S)
COMMA , O *
'' '' O *
said VBD B-VP *
John NNP B-NP *
Mattis NNP I-NP *
COMMA , O *
a DT B-NP *
bond NN I-NP *
analyst NN I-NP *
with IN B-PP *
Shearson NNP B-NP *
Lehman NNP I-NP *
Hutton NNP I-NP *
Inc NNP I-NP *
. . O *S)

`` `` O (S*
What WP B-NP (S*
happened VBD B-VP (S*
with IN B-PP *
United NNP B-NP *S)S)
was VBD B-VP *
a DT B-NP *
gracious JJ I-NP *
way NN I-NP *
for IN B-PP (S*
him PRP B-NP (S*
to TO B-VP *
bow VB I-VP *
out IN B-PRT *S)S)
. . O *
'' '' O *S)

Mr. NNP B-NP (S*
Trump NNP I-NP *
never RB B-ADVP *
obtained VBD B-VP *
financing NN B-NP *
for IN B-PP *
his PRP$ B-NP *
bid NN I-NP *
. . O *S)

That DT B-NP (S*
skepticism NN I-NP *
would MD B-VP *
leave VB I-VP *
him PRP B-NP *
with IN B-PP *
an DT B-NP *
even RB I-NP *
greater JJR I-NP *
credibility NN I-NP *
problem NN I-NP *
should MD O (S(S*
he PRP B-NP *
return VB B-VP *S)S)
that WDT B-NP (S*
would MD B-VP (S*
handicap VB I-VP *
him PRP B-NP *
in IN B-PP *
any DT B-NP *
effort NN I-NP *
to TO B-VP (S*
oust VB I-VP *
the DT B-NP *
board NN I-NP *
in IN B-PP *
a DT B-NP *
proxy NN I-NP *
fight NN I-NP *S)S)S)
. . O *S)

Meanwhile RB B-ADVP (S*
COMMA , O *
Citicorp NNP B-NP *
and CC O *
Chase NNP B-NP *
Manhattan NNP I-NP *
Corp. NNP I-NP *
COMMA , O *
the DT B-NP *
two CD I-NP *
lead NN I-NP *
lenders NNS I-NP *
on IN B-PP *
the DT B-NP *
UAL NNP I-NP *
buy-out NN I-NP *
COMMA , O *
met VBD B-VP *
with IN B-PP *
other JJ B-NP *
banks NNS I-NP *
yesterday NN I-NP *
to TO B-VP (S*
determine VB I-VP *
if IN B-SBAR (S*
they PRP B-NP (S*
would MD B-VP *
be VB I-VP *
willing JJ B-ADJP *
to TO B-VP (S*
finance VB I-VP *
the DT B-NP *
buy-out NN I-NP *
at IN B-PP *
a DT B-NP *
lower JJR I-NP *
price NN I-NP *S)S)S)S)
. . O *S)

Officials NNS B-NP (S*
familiar JJ B-ADJP *
with IN B-PP *
the DT B-NP *
talks NNS I-NP *
said VBD B-VP *
Citicorp NNP B-NP (S(S*
had VBD O *
discussed VBN O *
lowering VBG B-VP *
the DT B-NP *
offer NN I-NP *
to TO B-PP *
$ $ B-NP *
250 CD I-NP *
a DT B-NP *
share NN I-NP *S)S)
COMMA , O *
but CC O *
said VBD B-VP *
that DT B-NP (S(S(S*
price NN I-NP *
was VBD B-VP *
a DT B-NP *
talking VBG I-NP *
point NN I-NP *S)S)
and CC O *
that IN B-SBAR (S*
no DT B-NP (S*
decision NN I-NP *
has VBZ B-VP *
been VBN I-VP *
made VBN I-VP *S)S)S)
. . O *S)

At IN B-PP (S*
$ $ B-NP *
250 CD I-NP *
a DT B-NP *
share NN I-NP *
COMMA , O *
the DT B-NP *
group NN I-NP *
would MD B-VP *
have VB I-VP *
to TO I-VP *
borrow VB I-VP *
about RB B-NP *
$ $ I-NP *
6.1 CD I-NP *
billion CD I-NP *
from IN B-PP *
banks NNS B-NP *
. . O *S)

The DT B-NP (S*
first JJ I-NP *
UAL NNP I-NP *
deal NN I-NP *
unraveled VBN B-VP *
after IN B-PP (S*
Citibank NNP B-NP (S*
and CC O *
Chase NNP B-NP *
could MD B-VP *
n't RB I-VP *
raise VB I-VP *
$ $ B-NP *
7.2 CD I-NP *
billion CD I-NP *S)S)
. . O *S)

Citibank NNP B-NP (S*
and CC I-NP *
Chase NNP I-NP *
had VBD B-VP *
agreed VBN I-VP *
to TO I-VP *
commit VB I-VP *
$ $ B-NP *
3 CD I-NP *
billion CD I-NP *
COMMA , O *
and CC O *
said VBD B-VP *
they PRP B-NP (S(S*
were VBD B-VP *
`` `` O *
highly RB B-ADJP *
confident JJ I-ADJP *
'' '' O *
of IN B-PP *
raising VBG B-VP (S*
another DT B-NP *
$ $ I-NP *
4.2 CD I-NP *
billion CD I-NP *S)S)S)
. . O *S)

Together RB B-ADVP (S(S*S)
COMMA , O *
Citicorp NNP B-NP *
and CC O *
Chase NNP O *
received VBD B-VP *
$ $ B-NP *
8 CD I-NP *
million CD I-NP *
in IN B-PP *
fees NNS B-NP *
to TO B-VP (S*
raise VB I-VP *
the DT B-NP *
rest NN I-NP *
of IN B-PP *
the DT B-NP *
financing NN I-NP *S)
. . O *S)

But CC O (S*
other JJ B-NP *
banks NNS I-NP *
balked VBD B-VP *
at IN B-PP *
the DT B-NP *
low JJ I-NP *
interest NN I-NP *
rate NN I-NP *
and CC I-NP *
banking NN I-NP *
fees NNS I-NP *
the DT B-NP (S(S*
UAL NNP I-NP *
group NN I-NP *
was VBD B-VP *
willing JJ B-ADJP *
to TO B-VP (S*
pay VB I-VP *
them PRP B-NP *S)S)S)
. . O *S)

Officials NNS B-NP (S*
familiar JJ B-ADJP *
with IN B-PP *
the DT B-NP *
bank NN I-NP *
talks NNS I-NP *
said VBD B-VP *
the DT B-NP (S(S*
UAL NNP I-NP *
buy-out NN I-NP *
group NN I-NP *
-- : O *
UAL NNP B-NP *
pilots NNS I-NP *
COMMA , O *
management NN B-NP *
COMMA , O *
and CC O *
British JJ B-NP *
Airways NNP I-NP *
PLC NNP I-NP *
-- : O *
is VBZ B-VP *
now RB O *
willing JJ B-ADJP *
to TO B-VP (S*
pay VB I-VP *
higher JJR B-NP *
bank NN I-NP *
fees NNS I-NP *
and CC I-NP *
interest NN I-NP *S)
COMMA , O *
but CC O *
is VBZ B-VP *
n't RB O *
likely JJ B-ADJP *
to TO B-VP (S*
boost VB I-VP *
its PRP$ B-NP *
$ $ I-NP *
965 CD I-NP *
million CD I-NP *
equity NN I-NP *
contribution NN I-NP *S)S)S)
. . O *S)

Nor CC O (S*
is VBZ B-VP *
the DT B-NP *
group NN I-NP *
likely JJ B-ADJP *
to TO B-VP (S*
come VB I-VP *
forward RB B-PRT *
with IN B-PP *
a DT B-NP *
revised VBN I-NP *
offer NN I-NP *
within IN B-PP *
the DT B-NP *
next JJ I-NP *
48 CD I-NP *
hours NNS I-NP *S)
despite IN B-PP *
the DT B-NP *
hopes NNS I-NP *
of IN B-PP *
many JJ B-NP *
traders NNS I-NP *
. . O *S)

The DT B-NP (S*
group NN I-NP *
's POS B-NP *
advisers NNS I-NP *
want VBP B-VP *
to TO I-VP *
make VB I-VP *
certain JJ B-ADJP *
they PRP B-NP (S(S*
have VBP B-VP *
firm NN B-NP *
bank NN I-NP *
commitments NNS I-NP *
the DT B-NP *
second JJ I-NP *
time NN I-NP *
around RB B-ADVP *S)S)
. . O *S)

Even RB B-SBAR (S(S*
if IN I-SBAR *
the DT B-NP (S*
buy-out NN I-NP *
group NN I-NP *
is VBZ B-VP *
able JJ B-ADJP *
to TO B-VP (S*
obtain VB I-VP *
financing NN B-NP *S)S)S)
COMMA , O *
the DT B-NP *
transaction NN I-NP *
still RB B-ADVP *
faces VBZ B-VP *
obstacles NNS B-NP *
. . O *S)

UAL NNP B-NP (S*
's POS B-NP *
board NN I-NP *
could MD B-VP *
reject VB I-VP *
the DT B-NP *
new JJ I-NP *
price NN I-NP *
as IN O *
too RB B-ADJP *
low JJ I-ADJP *
COMMA , O *
especially RB B-ADVP (S*
since IN B-SBAR *
there EX B-NP (S*
are VBP B-VP *
n't RB O *
any DT B-NP *
competing VBG I-NP *
bids NNS I-NP *S)S)
. . O *S)

Los NNP B-NP (S*
Angeles NNP I-NP *
investor NN I-NP *
Marvin NNP I-NP *
Davis NNP I-NP *
COMMA , O *
whose WP$ B-NP (S*
$ $ I-NP *
275-a-share JJ I-NP *
offer NN I-NP *
was VBD B-VP (S*
rejected VBN I-VP *
by IN B-PP *
UAL NNP B-NP *
's POS B-NP *
board NN I-NP *S)S)
COMMA , O *
has VBZ B-VP *
n't RB I-VP *
shown VBN I-VP *
signs NNS B-NP *
of IN B-PP *
pursuing VBG B-VP (S*
a DT B-NP *
$ $ I-NP *
300-a-share JJ I-NP *
back-up NN I-NP *
bid NN I-NP *
he PRP B-NP (S(S*
made VBD B-VP *
last JJ B-NP *
month NN I-NP *S)S)S)
. . O *S)

In IN B-PP (S*
addition NN B-NP *
COMMA , O *
the DT B-NP *
coalition NN I-NP *
of IN B-PP *
labor NN B-NP *
and CC I-NP *
management NN I-NP *
COMMA , O *
longtime JJ B-NP *
enemies NNS I-NP *
who WP B-NP (S*
joined VBD B-VP (S*
forces NNS B-NP *
only RB B-ADVP *
under IN B-PP *
the DT B-NP *
threat NN I-NP *
of IN B-PP *
Mr. NNP B-NP *
Davis NNP I-NP *
's POS B-NP *
bid NN I-NP *S)S)
COMMA , O *
could MD B-VP *
break VB I-VP *
apart RB B-ADVP *
now RB I-ADVP *
. . O *S)

The DT B-NP (S*
group NN I-NP *
's POS B-NP *
resilience NN I-NP *
gets VBZ B-VP *
its PRP$ B-NP *
first JJ I-NP *
test NN I-NP *
today NN I-NP *
when WRB B-ADVP (S*
30 CD B-NP (S*
top JJ I-NP *
pilot NN I-NP *
union NN I-NP *
leaders NNS I-NP *
convene VBP O *
outside IN B-PP *
Chicago NNP B-NP *
in IN B-PP *
a DT B-NP *
previously RB I-NP *
scheduled VBN I-NP *
meeting NN I-NP *S)S)
. . O *S)

Union NNP B-NP (S*
Chairman NNP I-NP *
F.C NNP I-NP *
. . O *
( -LRB- O *
Rick NNP B-NP *
) -RRB- I-NP *
Dubinsky NNP I-NP *
faces VBZ B-VP *
the DT B-NP *
tough JJ I-NP *
task NN I-NP *
of IN B-PP *
explaining VBG B-VP (S*
why WRB B-ADVP (S*
banks NNS B-NP (S*
refused VBD B-VP *
to TO I-VP *
finance VB I-VP *
a DT B-NP *
buy-out NN I-NP *
the DT B-NP (S(S*
members NNS I-NP *
approved VBD B-VP *
overwhelmingly RB B-NP *
last JJ I-NP *
week NN I-NP *S)S)S)S)S)
. . O *S)

The DT B-NP (S*
pilot NN I-NP *
union NN I-NP *
is VBZ B-VP *
vowing VBG I-VP *
to TO I-VP *
pursue VB I-VP *
an DT B-NP *
acquisition NN I-NP *
whatever WDT B-NP (S*
the DT B-NP (S*
board NN I-NP *
decides VBZ B-VP *S)S)
. . O *S)

But CC O (S*
if IN B-PP (S*
the DT B-NP (S*
board NN I-NP *
rejects VBZ B-VP *
a DT B-NP *
reduced VBN I-NP *
bid NN I-NP *
and CC O *
decides VBZ B-VP *
to TO I-VP *
explore VB I-VP *
other JJ B-NP *
alternatives NNS I-NP *S)S)
COMMA , O *
it PRP B-NP *
could MD B-VP *
transform VB I-VP *
what WP B-NP (S*
has VBZ B-VP (S*
been VBN I-VP *
a DT B-NP *
harmonious JJ I-NP *
process NN I-NP *S)S)
into IN B-PP *
an DT B-NP *
adversarial JJ I-NP *
one CD I-NP *
. . O *S)

The DT B-NP (S*
pilots NNS I-NP *
could MD B-VP *
play VB I-VP *
hardball NN B-NP *
by IN B-PP *
noting VBG B-VP (S*
they PRP B-NP (S(S*
are VBP B-VP *
crucial JJ B-ADJP *
to TO B-PP *
any DT B-NP *
sale NN I-NP *
or CC I-NP *
restructuring NN I-NP *
because IN B-SBAR (S*
they PRP B-NP (S*
can MD B-VP *
refuse VB I-VP *
to TO I-VP *
fly VB I-VP *
the DT B-NP *
airplanes NNS I-NP *S)S)S)S)S)
. . O *S)

If IN B-SBAR (S(S*
they PRP B-NP (S*
were VBD B-VP *
to TO I-VP *
insist VB I-VP *
on IN B-PP *
a DT B-NP *
low JJ I-NP *
bid NN I-NP *
of IN B-PP *
COMMA , O *
say VBP O (S*S)
$ $ B-NP *
200 CD I-NP *
a DT B-NP *
share NN I-NP *S)S)
COMMA , O *
the DT B-NP *
board NN I-NP *
might MD B-VP *
n't RB I-VP *
be VB I-VP *
able JJ B-ADJP *
to TO B-VP (S*
obtain VB I-VP *
a DT B-NP *
higher JJR I-NP *
offer NN I-NP *
from IN B-PP *
other JJ B-NP *
bidders NNS I-NP *S)
because IN O (S*
banks NNS B-NP (S*
might MD B-VP *
hesitate VB I-VP *
to TO I-VP *
finance VB I-VP *
a DT B-NP *
transaction NN I-NP *
the DT O (S(S*
pilots NNS O *
oppose VBP O *S)S)S)S)
. . O *S)

Also RB B-ADVP (S*
COMMA , O *
because IN O (S*
UAL NNP B-NP (S*
Chairman NNP I-NP *
Stephen NNP I-NP *
Wolf NNP I-NP *
and CC O *
other JJ B-NP *
UAL NNP I-NP *
executives NNS I-NP *
have VBP B-VP *
joined VBN I-VP *
the DT B-NP *
pilots NNS I-NP *
' POS B-NP *
bid NN I-NP *S)S)
COMMA , O *
the DT B-NP *
board NN I-NP *
might MD B-VP *
be VB I-VP *
forced VBN I-VP *
to TO I-VP *
exclude VB I-VP *
him PRP B-NP *
from IN B-PP *
its PRP$ B-NP *
deliberations NNS I-NP *
in IN O (S*
order NN O *
to TO B-VP (S*
be VB I-VP *
fair JJ B-ADJP *
to TO B-PP *
other JJ B-NP *
bidders NNS I-NP *S)S)
. . O *S)

That DT B-NP (S*
could MD B-VP *
cost VB I-VP *
him PRP B-NP *
the DT B-NP *
chance NN I-NP *
to TO B-VP (S*
influence VB I-VP *
the DT B-NP *
outcome NN I-NP *
and CC O *
perhaps RB O *
join VB B-VP *
the DT B-NP *
winning VBG I-NP *
bidder NN I-NP *S)
. . O *S)