( S ( S ( NP-SBJ ( PRP He ) ) ( ADVP ( RB already ) ) ( VP ( VBZ has ) ( VP ( VBN achieved ) ( NP ( JJ vertical ) ( NN integration ) ) ( PP ( IN on ) ( NP ( DT a ) ( VBN limited ) ( NN scale ) ) ) ) ) ) ( S ( NP-SBJ-1 ( NNP Quebecor ) ) ( VP ( MD can ) ( VP ( VB put ) ( NP ( DT a ) ( JJ weekly ) ( NN newspaper ) ) ( PP-PUT ( IN on ) ( NP ( RB almost ) ( DT any ) ( NNP Quebec ) ( NN doorstep ) ) ) ( PP-MNR ( IN without ) ( S-NOM ( VP ( VBG using ) ( NP ( JJ outside ) ( NN help ) ) ) ) ) ( PP ( PP ( IN from ) ( S-NOM ( VP ( VBG chopping ) ( PRT ( RP down ) ) ( NP ( DT the ) ( NN tree ) ) ) ) ) ( PP ( TO to ) ( S-NOM ( VP ( VBG making ) ( NP ( DT the ) ( NN newsprint ) ) ) ) ) ( PP ( TO to ) ( S-NOM ( VP ( VBG flinging ) ( NP ( PRP it ) ) ( PP-DIR ( IN up ) ( PP ( IN onto ) ( NP ( DT the ) ( NN porch ) ) ) ) ) ) ) ) ) ) ) )

He already has achieved vertical integration on a limited scale Quebecor can put a weekly newspaper on almost any Quebec doorstep without using outside help from chopping down the tree to making the newsprint to flinging it up onto the porch


( S ( NP-SBJ ( NNS Analysts ) ) ( VP ( VBP say ) ( SBAR ( S ( NP-SBJ ( NP ( NNP Quebecor ) ( POS 's ) ) ( NN purchase ) ) ( VP ( VBZ is ) ( NP-PRD ( NP ( NN part ) ) ( PP ( IN of ) ( NP ( NP ( DT a ) ( NN trend ) ) ( PP ( IN toward ) ( NP ( NN consolidation ) ) ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( ADJP ( JJ North ) ( JJ American ) ) ( NN printing ) ( NN industry ) ) ) ) ) ) ) ) ) ) )

Analysts say Quebecor 's purchase is part of a trend toward consolidation in the North American printing industry


( S-1 ( ADVP ( IN Along ) ( PP ( IN with ) ( NP ( NNP Donnelley ) ) ) ) ( PRN ( SINV ( VP ( VBZ says ) ) ( NP-SBJ ( NP ( NNP Jacques ) ( NNP Massicotte ) ) ( NP ( NP ( DT an ) ( NN analyst ) ) ( PP ( IN with ) ( NP ( NP ( NNP Nesbitt ) ( NNP Thomson ) ( NNP Deacon ) ( NNP Inc. ) ) ( PP-LOC ( IN in ) ( NP ( NNP Montreal ) ) ) ) ) ) ) ) ) ( NP-SBJ ( NNP Quebecor ) ) ( VP ( VBZ has ) ( VP ( VBN positioned ) ( NP ( PRP itself ) ) ( PP-CLR ( IN as ) ( NP ( NP ( CD one ) ) ( PP ( IN of ) ( NP ( DT the ) ( CD two ) ( NN key ) ( NNS players ) ) ) ) ) ) ) )

Along with Donnelley says Jacques Massicotte an analyst with Nesbitt Thomson Deacon Inc. in Montreal Quebecor has positioned itself as one of the two key players


( S ( NP-SBJ ( PRP He ) ) ( VP ( VBZ adds ) ( S ( NP-SBJ ( PRP I ) ) ( VP ( VBP think ) ( SBAR ( S ( NP-SBJ ( DT this ) ) ( VP ( VBZ is ) ( NP-PRD ( NP ( DT a ) ( JJ great ) ( JJ strategic ) ( NN move ) ) ( PP ( IN for ) ( NP ( NNP Quebecor ) ) ) ) ) ) ) ) ) ) )

He adds I think this is a great strategic move for Quebecor


( S ( NP-SBJ ( PRP They ) ) ( VP ( VBP are ) ( VP ( VBG buying ) ( NP ( NP ( DT an ) ( NN operation ) ) ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( VP ( VBZ is ) ( VP ( VBG running ) ( ADVP-MNR ( RB well ) ) ) ) ) ) ) ) ) )

They are buying an operation that is running well


( S ( NP-SBJ ( NNP Mr. ) ( NNP Peladeau ) ) ( VP ( VBZ says ) ( SBAR ( S ( NP-SBJ-2 ( PRP he ) ) ( VP ( VBZ is ) ( RB n't ) ( VP ( VBG trying ) ( S ( VP ( TO to ) ( VP ( VB catch ) ( PRT ( RP up ) ) ( PP-CLR ( TO to ) ( NP ( NP ( NNP Donnelley ) ) ( SBAR ( WHNP-1 ( WDT which ) ) ( S ( VP ( VBZ has ) ( NP ( NP ( JJ annual ) ( NNS sales ) ) ( PP ( IN of ) ( NP ( QP ( IN over ) ( CD 3 ) ( CD billion ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Mr. Peladeau says he is n't trying to catch up to Donnelley which has annual sales of over 3 billion


( S ( S-TPC-1 ( NP-SBJ ( NN Size ) ) ( VP ( VBZ does ) ( RB n't ) ( VP ( VB matter ) ) ) ) ( NP-SBJ ( NNP Mr. ) ( NNP Peladeau ) ) ( VP ( VBZ says ) ) )

Size does n't matter Mr. Peladeau says


( SINV ( SBAR-PRD-TPC-2 ( WHNP-1 ( WP What ) ) ( S ( VP ( VBZ counts ) ) ) ) ( VP ( VBZ is ) ) ( NP-SBJ ( DT the ) ( JJ bottom ) ( NN line ) ) )

What counts is the bottom line


( S ( NP-SBJ ( NP ( DT Some ) ) ( PP ( IN of ) ( NP ( NP ( NNP Mr. ) ( NNP Peladeau ) ( POS 's ) ) ( NNS ventures ) ) ) ( PP ( VBG including ) ( NP ( NP ( DT an ) ( JJR earlier ) ( NN push ) ) ( PP-DIR ( IN into ) ( NP ( DT the ) ( NNP U.S. ) ( NN market ) ) ) ) ) ) ( VP ( VBP have ) ( RB n't ) ( VP ( VBN paid ) ( PRT ( RP off ) ) ( PP ( IN on ) ( NP ( DT the ) ( JJ bottom ) ( NN line ) ) ) ) ) )

Some of Mr. Peladeau 's ventures including an earlier push into the U.S. market have n't paid off on the bottom line


( S ( NP-SBJ ( NNP Quebecor ) ) ( VP ( VP ( VBD started ) ( NP ( NP ( DT the ) ( NNP Philadelphia ) ( NNP Journal ) ) ( NP ( DT a ) ( JJ daily ) ( NN tabloid ) ) ) ( PP-TMP ( IN in ) ( NP ( CD 1977 ) ) ) ) ( CC and ) ( VP ( VBD closed ) ( NP ( PRP it ) ) ( ADVP-TMP ( NP ( CD three ) ( NNS years ) ) ( RBR later ) ) ) ) )

Quebecor started the Philadelphia Journal a daily tabloid in 1977 and closed it three years later


( S ( S-TPC-1 ( NP-SBJ ( DT The ) ( NN venture ) ) ( VP ( VBD cost ) ( NP ( NNP Quebecor ) ) ( NP ( QP ( CD 12 ) ( CD million ) ) ) ) ) ( NP-SBJ ( NNP Mr. ) ( NNP Peladeau ) ) ( VP ( VBZ says ) ) )

The venture cost Quebecor 12 million Mr. Peladeau says


( S ( ADVP-TMP ( RBR More ) ( RB recently ) ) ( NP-SBJ ( DT some ) ( JJ former ) ( NNP Quebecor ) ( NNS executives ) ) ( VP ( VBD started ) ( NP ( PRP$ their ) ( JJ own ) ( NN printing ) ( NN company ) ) ( S-ADV ( VP ( VBG specializing ) ( PP-CLR ( IN in ) ( S-NOM ( VP ( NN printing ) ( CC and ) ( NN distributing ) ( NP ( NN advertising ) ( NNS circulars ) ) ) ) ) ) ) ) )

More recently some former Quebecor executives started their own printing company specializing in printing and distributing advertising circulars


( S ( NP-SBJ ( NNP Quebecor ) ) ( ADVP-TMP ( RB still ) ) ( VP ( VBZ lags ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( NNP Quebec ) ( NNS circulars ) ( NN market ) ) ) ( SBAR-ADV ( IN while ) ( S ( NP-SBJ ( NP ( NNP Mr. ) ( NNP Peladeau ) ( POS 's ) ) ( JJ former ) ( NNS employees ) ) ( VP ( VBP are ) ( VP ( VBG expanding ) ( PP-DIR ( IN across ) ( NP ( NNP Canada ) ) ) ) ) ) ) ) )

Quebecor still lags in the Quebec circulars market while Mr. Peladeau 's former employees are expanding across Canada


( S ( NP-SBJ ( NNP Mr. ) ( NNP Peladeau ) ) ( VP ( VBD took ) ( NP ( PRP$ his ) ( JJ first ) ( JJ big ) ( NN gamble ) ) ( ADVP-TMP ( ADVP ( NP ( CD 25 ) ( NNS years ) ) ( RB ago ) ) ( SBAR ( WHADVP-1 ( WRB when ) ) ( S ( NP-SBJ-2 ( PRP he ) ) ( VP ( VBD took ) ( NP ( NP ( NN advantage ) ) ( PP ( IN of ) ( NP ( NP ( DT a ) ( NN strike ) ) ( PP-LOC ( IN at ) ( NP ( NP ( NNP La ) ( NNP Presse ) ) ( NP ( RB then ) ( NP ( NNP Montreal ) ( POS 's ) ) ( JJ dominant ) ( JJ French-language ) ( NN newspaper ) ) ) ) ) ) ) ( S-PRP ( VP ( TO to ) ( VP ( VB launch ) ( NP ( DT the ) ( NNP Journal ) ( IN de ) ( NNP Montreal ) ) ) ) ) ) ) ) ) ) )

Mr. Peladeau took his first big gamble 25 years ago when he took advantage of a strike at La Presse then Montreal 's dominant French-language newspaper to launch the Journal de Montreal


( S ( NP-SBJ ( NP ( DT The ) ( NN tabloid ) ( POS 's ) ) ( NN circulation ) ) ( VP ( VP ( VBD soared ) ( PP-DIR ( TO to ) ( NP ( CD 80,000 ) ) ) ) ( CC but ) ( VP ( VBD plunged ) ( PP-DIR ( TO to ) ( NP ( QP ( IN under ) ( CD 10,000 ) ) ) ) ( SBAR-TMP ( WHADVP-1 ( WRB when ) ) ( S ( NP-SBJ ( DT the ) ( NNP La ) ( NNP Presse ) ( NN strike ) ) ( VP ( VBD ended ) ) ) ) ) ) )

The tabloid 's circulation soared to 80,000 but plunged to under 10,000 when the La Presse strike ended


( S ( ADVP ( RB Still ) ) ( NP-SBJ ( NNP Mr. ) ( NNP Peladeau ) ) ( VP ( VBD stuck ) ( PP-CLR ( IN with ) ( NP ( DT the ) ( NN venture ) ) ) ) )

Still Mr. Peladeau stuck with the venture


( S ( ADVP-TMP ( RB Now ) ) ( NP-SBJ-1 ( DT the ) ( NNP Journal ) ) ( S-ADV ( ADJP-PRD ( ADJP ( JJ flush ) ( PP ( IN with ) ( NP ( NNS ads ) ) ) ) ( CC and ) ( ADJP ( RB hugely ) ( JJ profitable ) ) ) ) ( VP ( VP ( VBZ is ) ( ADVP-PRD ( RB even ) ( PP ( IN with ) ( NP ( NNP La ) ( NNP Presse ) ) ) ) ( PP-LOC ( IN in ) ( NP ( NN weekend ) ( NN circulation ) ) ) ) ( CC and ) ( VP ( VBZ outsells ) ( NP ( PRP it ) ) ( NP-ADV ( NP ( CD 3 ) ) ( PP ( TO to ) ( NP ( CD 2 ) ) ) ) ( NP-TMP ( DT every ) ( NN weekday ) ) ) ) )

Now the Journal flush with ads and hugely profitable is even with La Presse in weekend circulation and outsells it 3 to 2 every weekday


( S ( NP-SBJ ( NNP Mr. ) ( NNP Peladeau ) ) ( VP ( VBZ has ) ( ADVP-TMP ( RB never ) ) ( VP ( VBN made ) ( NP ( NP ( DT any ) ( NNS apologies ) ) ( PP ( IN for ) ( S-NOM ( VP ( VBG publishing ) ( NP ( NP ( DT the ) ( NN tabloid ) ) ( NP ( NP ( DT a ) ( JJ brash ) ( NN mix ) ) ( PP ( IN of ) ( NP ( NN crime ) ( CC and ) ( NNS sports ) ) ) ) ) ) ) ) ) ) ) )

Mr. Peladeau has never made any apologies for publishing the tabloid a brash mix of crime and sports


( S ( S-TPC-1 ( NP-SBJ ( PRP I ) ) ( VP ( VBP 've ) ( VP ( VBN read ) ( NP ( NNP Balzac ) ) ) ) ) ( NP-SBJ ( PRP he ) ) ( VP ( VBZ answers ) ( NP ( NNS critics ) ) ) )

I 've read Balzac he answers critics


( S ( NP-SBJ ( PRP It ) ) ( VP ( VBZ 's ) ( NP-PRD ( NP ( JJ tabloid ) ( NN news ) ) ( PP ( PP ( IN from ) ( NP ( NN A ) ) ) ( PP ( TO to ) ( NP ( NN Z ) ) ) ) ) ) )

It 's tabloid news from A to Z


( S ( NP-SBJ ( NNP Quebecor ) ) ( ADVP ( RB also ) ) ( VP ( VBZ publishes ) ( NP ( NP ( NP ( NP ( DT a ) ( JJ second ) ( NN tabloid ) ) ( PP-LOC ( IN in ) ( NP ( NNP Montreal ) ) ) ) ( NP ( DT the ) ( VBG struggling ) ( JJ 18-month-old ) ( NNP Montreal ) ( NNP Daily ) ( NNP News ) ) ) ( NP ( NP ( NNS dailies ) ) ( PP-LOC ( IN in ) ( NP ( NP ( NNP Quebec ) ( NNP City ) ) ( CC and ) ( NP ( NP ( NNP Winnipeg ) ) ( NP ( NNP Manitoba ) ) ) ) ) ) ( CC and ) ( NP ( NP ( NNS dozens ) ) ( PP ( IN of ) ( NP ( NNS weeklies ) ) ) ( VP ( VBG covering ) ( NP ( NP ( JJS most ) ) ( PP ( IN of ) ( NP ( NNP Quebec ) ) ) ) ) ) ) ) )

Quebecor also publishes a second tabloid in Montreal the struggling 18-month-old Montreal Daily News dailies in Quebec City and Winnipeg Manitoba and dozens of weeklies covering most of Quebec


( S ( NP-SBJ ( NP ( DT A ) ( NN series ) ) ( PP ( IN of ) ( NP ( JJ recent ) ( NNS acquisitions ) ) ) ) ( VP ( VBD made ) ( S ( NP-SBJ ( PRP it ) ) ( NP-PRD ( NP ( DT the ) ( JJ dominant ) ( NN magazine ) ( NN publisher ) ) ( PP-LOC ( IN in ) ( NP ( NNP Quebec ) ) ) ) ) ) )

A series of recent acquisitions made it the dominant magazine publisher in Quebec


( S ( PP-TMP ( IN After ) ( NP ( DT a ) ( JJ recent ) ( NN merger ) ) ) ( NP-SBJ ( PRP it ) ) ( VP ( VBZ is ) ( ADVP ( RB also ) ) ( NP-PRD ( NP ( DT the ) ( JJ only ) ( JJ province-wide ) ( NN distributor ) ) ( PP ( IN of ) ( NP ( NNS magazines ) ( CC and ) ( NNS newspapers ) ) ) ( PP-LOC ( IN in ) ( NP ( NNP Quebec ) ) ) ) ) )

After a recent merger it is also the only province-wide distributor of magazines and newspapers in Quebec


( S ( ADVP ( RB Finally ) ) ( PP ( IN with ) ( NP ( NNP Maxwell ) ( NNP Communication ) ) ) ( NP-SBJ ( DT the ) ( NN company ) ) ( VP ( VBZ controls ) ( NP ( NP ( CD 54 ) ( NN % ) ) ( PP ( IN of ) ( NP ( NP ( NNP Donohue ) ( NNP Inc. ) ) ( NP ( DT a ) ( NNP Quebec ) ( NNP City ) ( NN pulp ) ( CC and ) ( NN paper ) ( NN concern ) ) ) ) ) ) )

Finally with Maxwell Communication the company controls 54 % of Donohue Inc. a Quebec City pulp and paper concern


( S ( PP-LOC ( IN In ) ( NP ( NP ( NN yesterday ) ( POS 's ) ) ( NN accord ) ) ) ( NP-SBJ-1 ( NNP Quebecor ) ) ( VP ( VBD agreed ) ( S ( VP ( VP ( TO to ) ( VP ( VB pay ) ( NP ( NP ( QP ( CD 400 ) ( CD million ) ) ) ( PP ( IN in ) ( NP ( NN cash ) ) ) ) ( PP-CLR ( IN for ) ( NP ( NNP Maxwell ) ( NNP Graphics ) ) ) ) ) ( CC and ) ( VP ( TO to ) ( VP ( VB give ) ( NP ( NNP Maxwell ) ( NNP Communication ) ) ( NP ( NP ( DT a ) ( ADJP ( CD 20 ) ( NN % ) ) ( NN stake ) ) ( VP ( VBN valued ) ( PP-CLR ( IN at ) ( NP ( QP ( CD 100 ) ( CD million ) ) ) ) ) ( PP ( IN in ) ( NP ( NP ( NNP Quebecor ) ( POS 's ) ) ( JJ new ) ( NN printing ) ( NN subsidiary ) ) ) ) ) ) ) ) ) )

In yesterday 's accord Quebecor agreed to pay 400 million in cash for Maxwell Graphics and to give Maxwell Communication a 20 % stake valued at 100 million in Quebecor 's new printing subsidiary


( S ( NP-SBJ ( DT The ) ( JJ new ) ( ADJP ( ADVP ( RB as ) ( RB yet ) ) ( JJ unnamed ) ) ( NN subsidiary ) ) ( VP ( MD will ) ( VP ( VB combine ) ( NP ( NP ( NP ( NNP Quebecor ) ( POS 's ) ) ( VBG existing ) ( NN printing ) ( NN unit ) ) ( CC and ) ( NP ( NNP Maxwell ) ( NNP Graphics ) ) ) ) ) )

The new as yet unnamed subsidiary will combine Quebecor 's existing printing unit and Maxwell Graphics


( S ( NP-SBJ ( PRP It ) ) ( VP ( MD will ) ( VP ( VB have ) ( NP ( NP ( NP ( CD 61 ) ( NNS plants ) ) ( PP-LOC ( PP ( IN from ) ( NP ( NN coast ) ) ) ( PP ( TO to ) ( NP ( NN coast ) ) ) ) ) ( CC and ) ( NP ( NP ( QP ( CD 1.5 ) ( CD billion ) ) ) ( PP ( IN in ) ( NP ( JJ annual ) ( NNS sales ) ) ) ) ) ) ) )

It will have 61 plants from coast to coast and 1.5 billion in annual sales


( S ( NP-SBJ ( NNP Quebecor ) ) ( VP ( MD will ) ( VP ( VB own ) ( NP ( NP ( CD 57.5 ) ( NN % ) ) ( PP ( IN of ) ( NP ( DT the ) ( JJ new ) ( NN subsidiary ) ) ) ) ) ) )

Quebecor will own 57.5 % of the new subsidiary


( S ( NP-SBJ ( NP ( NNP Caisse ) ( IN de ) ( NNP Depot ) ( CC et ) ( NNP Placement ) ) ( NP ( DT the ) ( NNP Quebec ) ( NN government ) ( NN pension-fund ) ( NN agency ) ) ) ( VP ( MD will ) ( VP ( VB pay ) ( NP ( QP ( CD 112.5 ) ( CD million ) ) ) ( PP-CLR ( IN for ) ( NP ( NP ( DT the ) ( VBG remaining ) ( ADJP ( CD 22.5 ) ( NN % ) ) ( NN stake ) ) ( PP ( IN in ) ( NP ( DT the ) ( NN printing ) ( NN operation ) ) ) ) ) ) ) )

Caisse de Depot et Placement the Quebec government pension-fund agency will pay 112.5 million for the remaining 22.5 % stake in the printing operation


( S ( S ( NP-SBJ ( NP ( NNP Pierre-Karl ) ( NNP Peladeau ) ) ( NP ( NP ( NP ( DT the ) ( NN founder ) ( POS 's ) ) ( NN son ) ) ( CC and ) ( NP ( NP ( DT the ) ( NN executive ) ) ( PP ( IN in ) ( NP ( NP ( NN charge ) ) ( PP ( IN of ) ( NP ( DT the ) ( NN acquisition ) ) ) ) ) ) ) ) ( VP ( VBZ says ) ( SBAR ( S ( NP-SBJ ( NNP Quebecor ) ) ( VP ( VBZ has ) ( RB n't ) ( VP ( VBD decided ) ( SBAR ( WHADVP-1 ( WRB how ) ) ( S ( NP-SBJ ( PRP it ) ) ( VP ( MD will ) ( VP ( VB finance ) ( NP ( NP ( PRP$ its ) ( NN share ) ) ( PP ( IN of ) ( NP ( DT the ) ( NN purchase ) ) ) ) ) ) ) ) ) ) ) ) ) ) ( CC but ) ( S ( NP-SBJ ( PRP he ) ) ( VP ( VBZ says ) ( SBAR ( S ( NP-SBJ ( PRP it ) ) ( ADVP ( RBS most ) ( RB likely ) ) ( VP ( MD will ) ( VP ( VB use ) ( NP ( NN debt ) ) ) ) ) ) ) ) )

Pierre-Karl Peladeau the founder 's son and the executive in charge of the acquisition says Quebecor has n't decided how it will finance its share of the purchase but he says it most likely will use debt


( S ( NP-SBJ ( DT The ) ( NNP Maxwell ) ( NN deal ) ) ( VP ( VBZ is ) ( NP-PRD ( NP ( NP ( NNP Quebecor ) ( POS 's ) ) ( JJ second ) ( JJ big ) ( NN printing ) ( NN acquisition ) ) ( PP-TMP ( IN in ) ( NP ( RB just ) ( IN over ) ( DT a ) ( NN year ) ) ) ) ) )

The Maxwell deal is Quebecor 's second big printing acquisition in just over a year


( S ( NP-TMP ( JJ Last ) ( NNP October ) ) ( NP-SBJ ( NNP Quebecor ) ) ( VP ( VBD bought ) ( NP ( CD 23 ) ( NNP Canadian ) ( NN printing ) ( NNS plants ) ) ( PP-CLR ( IN from ) ( NP ( NP ( NNP BCE ) ( NNP Inc. ) ) ( NP ( DT a ) ( NNP Montreal ) ( NNS telecommunications ) ( NN manufacturing ) ( NN energy ) ( CC and ) ( JJ real ) ( NN estate ) ( NN company ) ) ) ) ) )

Last October Quebecor bought 23 Canadian printing plants from BCE Inc. a Montreal telecommunications manufacturing energy and real estate company


( S ( NP-SBJ ( DT That ) ( NN purchase ) ) ( VP ( VBD doubled ) ( NP ( NP ( NNP Quebecor ) ( POS 's ) ) ( JJ annual ) ( NN printing ) ( NN revenue ) ) ( PP-DIR ( TO to ) ( NP ( QP ( CD 750 ) ( CD million ) ) ) ) ) )

That purchase doubled Quebecor 's annual printing revenue to 750 million


( S ( NP-SBJ-1 ( NP ( NP ( NNP Maxwell ) ( POS 's ) ) ( NN sale ) ) ( PP ( IN of ) ( NP ( NP ( PRP$ its ) ( NNP U.S. ) ( NN printing ) ( NN unit ) ) ) ) ) ( VP ( VBD was ) ( VP ( VBN expected ) ( NP-4 ( NP ( DT the ) ( JJ last ) ( JJ major ) ( NN business ) ) ( SBAR ( S ( VP ( TO to ) ( VP ( VB be ) ( VP ( VBN disposed ) ( PP-CLR ( RP of ) ) ( PP-LOC ( IN in ) ( NP ( NP ( DT a ) ( JJ major ) ( VBG reshuffling ) ) ( PP ( IN of ) ( NP ( NNS assets ) ) ) ) ) ) ) ) ) ) ) ) ) )

Maxwell 's sale of its U.S. printing unit was expected the last major business to be disposed of in a major reshuffling of assets


( S ( PP ( VBG According ) ( PP ( TO to ) ( NP ( NP ( PRP$ its ) ( ADJP ( RBS most ) ( JJ recent ) ) ( JJ annual ) ( NN report ) ) ( VP ( VBG covering ) ( NP ( NP ( DT the ) ( CD 15 ) ( NNS months ) ) ( VP ( VBD ended ) ( NP-TMP ( NNP March ) ( CD 31 ) ) ) ) ) ) ) ) ( NP-SBJ ( NNP Maxwell ) ( NNP Communication ) ) ( VP ( VP ( VBD bought ) ( NP ( NP ( QP ( CD 3.85 ) ( CD billion ) ) ) ( PP ( IN in ) ( NP ( NNS assets ) ) ) ( PRN ( PP ( VBG including ) ( NP ( NP ( NNP Macmillan ) ( NNP Inc. ) ) ( CC and ) ( NP ( NNP Official ) ( NNP Airlines ) ( NNP Guides ) ) ) ) ) ) ) ( CC and ) ( VP ( VBD sold ) ( NP ( NP ( QP ( CD 2 ) ( CD billion ) ) ) ( PP ( IN in ) ( NP ( JJ non-strategic ) ( NNS businesses ) ) ) ) ) ) )

According to its most recent annual report covering the 15 months ended March 31 Maxwell Communication bought 3.85 billion in assets including Macmillan Inc. and Official Airlines Guides and sold 2 billion in non-strategic businesses


( S ( ADVP-TMP ( RB Now ) ) ( NP-SBJ-1 ( NNP Maxwell ) ( NN founder ) ( NNP Robert ) ( NNP Maxwell ) ) ( VP ( VBZ says ) ( SBAR ( S ( NP-SBJ ( PRP he ) ) ( VP ( VBZ has ) ( NP ( NP ( DT an ) ( NN appetite ) ) ( PP ( IN for ) ( NP ( NP ( JJ new ) ( NNS acquisitions ) ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( NNP U.S. ) ) ) ) ) ) ) ) ) ( S-ADV ( VP ( VBG adding ) ( SBAR ( IN that ) ( S ( NP-SBJ ( PRP he ) ) ( VP ( MD could ) ( VP ( VB spend ) ( NP ( QP ( NP-ADV ( DT a ) ( JJ good ) ( NN deal ) ) ( JJR more ) ( IN than ) ( CD 1 ) ( CD billion ) ) ) ( PP-CLR ( IN on ) ( NP ( DT another ) ( NNP U.S. ) ( NN purchase ) ) ) ) ) ) ) ) ) ) )

Now Maxwell founder Robert Maxwell says he has an appetite for new acquisitions in the U.S. adding that he could spend a good deal more than 1 billion on another U.S. purchase


( S ( PP-LOC ( IN In ) ( NP ( NNP London ) ( NN trading ) ) ) ( NP-TMP ( NN yesterday ) ) ( NP-SBJ ( NNP Maxwell ) ( NNP Communication ) ( NNS shares ) ) ( VP ( VBD rose ) ( NP-EXT ( CD nine ) ( NN pence ) ) ( PP-DIR ( TO to ) ( NP ( NP ( CD 216 ) ( NN pence ) ) ( PRN ( NP ( CD 3.41 ) ) ) ) ) ) )

In London trading yesterday Maxwell Communication shares rose nine pence to 216 pence 3.41


( S ( PP-LOC ( IN In ) ( NP ( NNP Montreal ) ) ) ( NP-SBJ ( NP ( NNP Quebecor ) ( POS 's ) ) ( JJ multiple ) ( NN voting ) ( NN Class ) ( NN A ) ( NN stock ) ) ( VP ( VBD closed ) ( PP-CLR ( IN at ) ( NP ( NP ( CD 16.375 ) ) ( PRN ( NP ( CD 13.94 ) ) ) ) ) ( ADVP ( RB down ) ( NP ( CD 12.5 ) ( JJ Canadian ) ( NNS cents ) ) ) ) )

In Montreal Quebecor 's multiple voting Class A stock closed at 16.375 13.94 down 12.5 Canadian cents


( S ( NP-SBJ ( NNP Quebecor ) ( NN Class ) ( NN B ) ( NN stock ) ) ( VP ( VBD closed ) ( PP-CLR ( IN at ) ( NP ( CD 15.375 ) ) ) ( ADVP ( RB up ) ( NP ( CD 62.5 ) ( JJ Canadian ) ( NNS cents ) ) ) ) )

Quebecor Class B stock closed at 15.375 up 62.5 Canadian cents


( S ( NP-SBJ ( NP ( NNP Craig ) ( NNP Forman ) ) ( PP-LOC ( IN in ) ( NP ( NNP London ) ) ) ) ( VP ( VBD contributed ) ( PP-CLR ( TO to ) ( NP ( DT this ) ( NN article ) ) ) ) )

Craig Forman in London contributed to this article


( S ( NP-SBJ ( NP ( NNP MiniScribe ) ( NNP Corp. ) ) ( NP-LOC ( NP ( NNP Longmont ) ) ( NP ( NNP Colo. ) ) ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBD introduced ) ( NP ( NP ( DT a ) ( ADJP ( JJ one-inch ) ( JJ high ) ) ( JJ 80-megabyte ) ( JJ hard ) ( NN disk ) ( NN drive ) ) ( SBAR ( WHNP-1 ( IN that ) ) ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBZ hopes ) ( SBAR ( S ( VP ( MD will ) ( VP ( VB prove ) ( ADJP-PRD ( JJ popular ) ( PP ( IN with ) ( NP ( NP ( NNS makers ) ) ( PP ( IN of ) ( NP ( JJ high-performance ) ( ADJP ( JJ laptop ) ( CC and ) ( JJ portable ) ) ( NNS computers ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

MiniScribe Corp. Longmont Colo. said it introduced a one-inch high 80-megabyte hard disk drive that it hopes will prove popular with makers of high-performance laptop and portable computers


( S ( NP-SBJ-1 ( DT The ) ( JJ troubled ) ( NN disk ) ( NN drive ) ( NN maker ) ) ( VP ( VBZ aims ) ( PP-MNR ( IN with ) ( NP ( DT the ) ( JJ new ) ( ADJP ( CD 3 ) ( JJ 1\/2-inch ) ) ( NNS disks ) ) ) ( S ( VP ( TO to ) ( VP ( VB revive ) ( NP ( PRP$ its ) ( NN reputation ) ( CC and ) ( NNS sales ) ( NN growth ) ) ) ) ) ) )

The troubled disk drive maker aims with the new 3 1\/2-inch disks to revive its reputation and sales growth


( S ( NP-SBJ ( NNP MiniScribe ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( DT the ) ( NN disk ) ( NNS drives ) ) ( VP ( VBP have ) ( NP ( NP ( JJR more ) ( NN memory ) ( NN capacity ) ) ( PP ( IN than ) ( NP ( NP ( JJ other ) ( NNS disks ) ) ( NP ( DT that ) ( NN size ) ) ) ) ) ) ) ) ) )

MiniScribe said the disk drives have more memory capacity than other disks that size


( S ( NP-SBJ ( NNP MiniScribe ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ-1 ( PRP it ) ) ( VP ( VBZ expects ) ( S ( VP ( TO to ) ( VP ( VB begin ) ( NP ( NP ( JJ full ) ( NN volume ) ( NN production ) ) ( PP ( IN of ) ( NP ( DT the ) ( NNS drives ) ) ) ) ( PP-LOC ( IN in ) ( NP ( NP ( DT the ) ( NNP U.S. ) ) ( CC and ) ( NP ( NNP Singapore ) ) ) ) ( PP-TMP ( IN in ) ( NP ( NP ( DT the ) ( JJ first ) ( NN quarter ) ) ( NP-TMP ( JJ next ) ( NN year ) ) ) ) ) ) ) ) ) ) ) )

MiniScribe said it expects to begin full volume production of the drives in the U.S. and Singapore in the first quarter next year


( S ( NP-SBJ-1 ( NP ( DT A ) ( NN drive ) ) ( PP ( IN with ) ( NP ( NP ( CD 120 ) ( NNS megabytes ) ) ( PP ( IN of ) ( NP ( NN capacity ) ) ) ) ) ) ( VP ( VBZ is ) ( VP ( VBN scheduled ) ( PP-CLR ( IN for ) ( NP ( NP ( NN release ) ) ( PP-TMP ( IN during ) ( NP ( NP ( DT the ) ( JJ third ) ( NN quarter ) ) ( PP ( IN of ) ( NP ( CD 1990 ) ) ) ) ) ) ) ) ) )

A drive with 120 megabytes of capacity is scheduled for release during the third quarter of 1990


( S ( NP-SBJ ( NNP MiniScribe ) ) ( VP ( VBZ has ) ( VP ( VBN been ) ( PP-PRD ( IN on ) ( NP ( DT the ) ( NNS rocks ) ) ) ( SBAR-TMP ( IN since ) ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBD disclosed ) ( NP-TMP ( RB early ) ( DT this ) ( NN year ) ) ( SBAR ( IN that ) ( S ( NP-SBJ ( NP ( PRP$ its ) ( NNS earnings ) ( NNS reports ) ) ( PP ( IN for ) ( NP ( CD 1988 ) ) ) ) ( VP ( VBD were ) ( RB n't ) ( ADJP-PRD ( JJ accurate ) ) ) ) ) ) ) ) ) ) )

MiniScribe has been on the rocks since it disclosed early this year that its earnings reports for 1988 were n't accurate


( S ( PP-TMP ( IN After ) ( NP ( DT an ) ( JJ internal ) ( NN investigation ) ) ) ( NP-SBJ ( DT the ) ( NN company ) ) ( VP ( VBD found ) ( SBAR ( IN that ) ( S ( NP-SBJ-1 ( JJ senior ) ( NNS officials ) ) ( VP ( VBD used ) ( NP ( NP ( DT a ) ( NN variety ) ) ( PP ( IN of ) ( NP ( NNS schemes ) ) ) ) ( S-CLR ( VP ( TO to ) ( VP ( VB fabricate ) ( NP ( JJ sales ) ( NNS gains ) ) ) ) ) ( PP-2 ( VBG including ) ( S-NOM ( VP ( NN counting ) ( NP ( NP ( NNS shipments ) ) ( PP ( IN of ) ( NP ( NP ( NNS bricks ) ) ( CC and ) ( NP ( JJ defective ) ( NNS drives ) ) ) ) ) ( PP-CLR ( IN as ) ( NP ( NNS sales ) ) ) ) ) ) ) ) ) ) )

After an internal investigation the company found that senior officials used a variety of schemes to fabricate sales gains including counting shipments of bricks and defective drives as sales


( S ( NP-SBJ ( NNP Genentech ) ( NNP Inc. ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( NP ( DT the ) ( NNP West ) ( NNP German ) ( NN distributor ) ) ( PP ( IN of ) ( NP ( PRP$ its ) ( NN heart ) ( NN drug ) ( NNP TPA ) ) ) ) ( VP ( VBD reached ) ( NP ( DT a ) ( NN joint ) ( NN marketing ) ( NN agreement ) ) ( PP-CLR ( IN with ) ( NP ( NP ( DT a ) ( NN subsidiary ) ) ( PP ( IN of ) ( NP ( NP ( NNP Hoechst ) ( NNP AG ) ) ( SBAR ( WHNP-1 ( WDT which ) ) ( S ( VP ( VBZ makes ) ( NP ( DT the ) ( JJ rival ) ( JJ anti-clotting ) ( NN agent ) ( NNP streptokinase ) ) ) ) ) ) ) ) ) ) ) ) ) )

Genentech Inc. said the West German distributor of its heart drug TPA reached a joint marketing agreement with a subsidiary of Hoechst AG which makes the rival anti-clotting agent streptokinase


( S ( NP-SBJ ( DT The ) ( NN biotechnology ) ( NN concern ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( NP ( DT the ) ( NN agreement ) ) ( PP ( IN between ) ( NP ( NP ( NP ( PRP$ its ) ( NN longtime ) ( NNP West ) ( NNP German ) ( NN distributor ) ) ( NP ( NP ( NNP Boehringer-Ingleheim ) ( POS 's ) ) ( NNP Dr. ) ( NNP Karl ) ( NNP Thomae ) ( NNP G.m.b.H. ) ( NN subsidiary ) ) ) ( CC and ) ( NP ( NP ( NNP Hoechst ) ( POS 's ) ) ( NNP Behringwerke ) ( NN subsidiary ) ) ) ) ) ( VP ( VBD was ) ( NP-PRD ( DT an ) ( NN attempt ) ( S ( VP ( TO to ) ( VP ( VB expand ) ( NP ( NP ( DT the ) ( NN market ) ) ( PP ( IN for ) ( NP ( NP ( NN blood-clot ) ( NNS drugs ) ) ( PP ( IN in ) ( NP ( NN general ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

The biotechnology concern said the agreement between its longtime West German distributor Boehringer-Ingleheim 's Dr. Karl Thomae G.m.b.H. subsidiary and Hoechst 's Behringwerke subsidiary was an attempt to expand the market for blood-clot drugs in general


( S ( NP-SBJ ( DT A ) ( NNP Genentech ) ( NN spokeswoman ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( DT the ) ( NN agreement ) ) ( VP ( VBZ calls ) ( SBAR ( IN for ) ( S ( NP-SBJ ( NNP Hoechst ) ) ( VP ( TO to ) ( VP ( VP ( VB promote ) ( NP-1 ( NNP TPA ) ) ( PP-2 ( IN for ) ( NP ( NN heart ) ( NNS patients ) ) ) ) ( CC and ) ( VP ( NP=1 ( NNP streptokinase ) ) ( PP-PRP=2 ( IN for ) ( NP ( JJ other ) ( JJ clot-reducing ) ( NNS purposes ) ) ) ) ) ) ) ) ) ) ) ) )

A Genentech spokeswoman said the agreement calls for Hoechst to promote TPA for heart patients and streptokinase for other clot-reducing purposes


( SBARQ ( SBAR-ADV ( IN If ) ( S ( NP-SBJ ( JJ Japanese ) ( NNS companies ) ) ( VP ( VBP are ) ( ADJP-PRD ( RB so ) ( JJ efficient ) ) ) ) ) ( WHADVP-2 ( WRB why ) ) ( SQ ( VBZ does ) ( NP-SBJ-3 ( NNP Kawasaki-Rikuso ) ( NNP Transportation ) ( NNP Co. ) ) ( ADVP-TMP ( RB sometimes ) ) ( VP ( VB need ) ( NP ( DT a ) ( NN week ) ) ( S-PRP-CLR ( ADVP ( RB just ) ) ( VP ( TO to ) ( VP ( VB tell ) ( NP ( PRP$ its ) ( NNS clients ) ) ( SBAR ( WHADVP-1 ( WRB how ) ( RB soon ) ) ( S ( NP-SBJ ( PRP it ) ) ( VP ( MD can ) ( VP ( VB ship ) ( NP ( NNS goods ) ) ( PP-DIR ( IN from ) ( ADVP ( RB here ) ) ) ( PP-DIR ( TO to ) ( NP ( NNP Osaka ) ) ) ) ) ) ) ) ) ) ) ) )

If Japanese companies are so efficient why does Kawasaki-Rikuso Transportation Co. sometimes need a week just to tell its clients how soon it can ship goods from here to Osaka


( SBARQ ( WHADVP-1 ( WRB Why ) ) ( PRN ( PP-TMP ( IN until ) ( NP ( JJ last ) ( NN spring ) ) ) ) ( SQ ( VBD did ) ( NP-SBJ-2 ( NP ( DT the ) ( NNP Long-Term ) ( NNP Credit ) ( NNP Bank ) ) ( PP ( IN of ) ( NP ( NNP Japan ) ) ) ) ( ADVP-TMP ( RB sometimes ) ) ( VP ( VB take ) ( NP ( JJ several ) ( NNS days ) ) ( S-PRP-CLR ( VP ( TO to ) ( VP ( VB correct ) ( NP ( NP ( JJ typographical ) ( NNS errors ) ) ( PP ( IN in ) ( NP ( NP ( PRP$ its ) ( NN paper ) ( NN work ) ) ( PP ( IN for ) ( NP ( JJ international ) ( NNS transactions ) ) ) ) ) ) ) ) ) ) ) )

Why until last spring did the Long-Term Credit Bank of Japan sometimes take several days to correct typographical errors in its paper work for international transactions


( S ( SBAR-PRP ( IN Because ) ( S ( NP-SBJ ( DT the ) ( NNS companies ) ) ( VP ( VBP have ) ( VP ( VBN lacked ) ( NP ( NP ( NN office ) ( NNS computers ) ) ( VP ( VBN considered ) ( S ( NP-PRD ( JJ standard ) ( NN equipment ) ) ) ( PP-LOC ( IN in ) ( NP ( NP ( DT the ) ( NNP U.S. ) ) ( CC and ) ( NP ( NNP Western ) ( NNP Europe ) ) ) ) ) ) ) ) ) ) ( NP-SBJ ( NP ( NP ( JJ Japanese ) ( NNS corporations ) ( POS ' ) ) ( NN reputation ) ) ( PP ( IN as ) ( NP ( JJ hi-tech ) ( NNS powerhouses ) ) ) ) ( VP ( VBZ is ) ( ADVP ( RB only ) ) ( ADJP-PRD ( RB half ) ( JJ right ) ) ) )

Because the companies have lacked office computers considered standard equipment in the U.S. and Western Europe Japanese corporations ' reputation as hi-tech powerhouses is only half right


( S ( S ( NP-SBJ ( PRP$ Their ) ( NNS factories ) ) ( VP ( MD may ) ( VP ( VB look ) ( PP-CLR ( IN like ) ( NP ( NP ( NNS sets ) ) ( PP ( IN for ) ( NP ( DT a ) ( NNP Spielberg ) ( NN movie ) ) ) ) ) ) ) ) ( CC but ) ( S ( NP-SBJ ( NP ( PRP$ their ) ( NNS offices ) ) ( PP ( IN with ) ( NP ( NP ( NNS rows ) ) ( PP ( IN of ) ( NP ( NP ( NNS clerks ) ) ( VP ( VBN hunched ) ( PP-LOC ( IN over ) ( NP ( NNS ledgers ) ( CC and ) ( NNS abacuses ) ) ) ) ) ) ) ) ) ( VP ( VBP are ) ( PP-PRD ( RBR more ) ( IN like ) ( NP ( NP ( NNS scenes ) ) ( PP ( IN from ) ( NP ( DT a ) ( NNP Dickens ) ( NN novel ) ) ) ) ) ) ) )

Their factories may look like sets for a Spielberg movie but their offices with rows of clerks hunched over ledgers and abacuses are more like scenes from a Dickens novel


( S ( ADVP-TMP ( RB Now ) ) ( NP-SBJ ( DT the ) ( NN personal-computer ) ( NN revolution ) ) ( VP ( VBZ is ) ( ADVP-TMP ( RB finally ) ) ( VP ( VBG reaching ) ( NP ( NNP Japan ) ) ) ) )

Now the personal-computer revolution is finally reaching Japan


( S ( NP-SBJ-1 ( NP ( NNP Kawasaki-Rikuso ) ) ( NP ( DT a ) ( NN freight ) ( NN company ) ) ) ( VP ( VP ( VBD set ) ( PRT ( RP up ) ) ( NP ( PRP$ its ) ( JJ own ) ( NN software ) ( NN subsidiary ) ) ( NP-TMP ( DT this ) ( NN year ) ) ) ( CC and ) ( VP ( VBZ is ) ( VP ( VBG spending ) ( NP ( RB nearly ) ( NP ( DT a ) ( NN year ) ( POS 's ) ) ( NN profit ) ) ( S-PRP ( VP ( TO to ) ( VP ( ADVP ( RBR more ) ( IN than ) ) ( RB double ) ( NP ( DT the ) ( NN computer ) ( NNS terminals ) ) ( PP-LOC ( IN at ) ( NP ( PRP$ its ) ( JJ main ) ( NN office ) ) ) ) ) ) ) ) ) )

Kawasaki-Rikuso a freight company set up its own software subsidiary this year and is spending nearly a year 's profit to more than double the computer terminals at its main office


( S ( PP-TMP ( IN In ) ( NP ( NNP April ) ) ) ( NP-SBJ ( DT the ) ( NNP Long-Term ) ( NNP Credit ) ( NNP Bank ) ) ( VP ( VBD linked ) ( NP ( NP ( PRP$ its ) ( NNS computers ) ) ( PP-LOC ( IN in ) ( NP ( NNP Tokyo ) ) ) ) ( PP-CLR ( IN with ) ( NP ( PRP$ its ) ( CD three ) ( JJ American ) ( NNS offices ) ) ) ) )

In April the Long-Term Credit Bank linked its computers in Tokyo with its three American offices


( S ( ADVP ( JJ Overall ) ) ( NP-SBJ ( NP ( NN PC ) ( NNS sales ) ) ( PP-LOC ( IN in ) ( NP ( NNP Japan ) ) ) ( PP-TMP ( IN in ) ( NP ( NP ( DT the ) ( JJ first ) ( NN half ) ) ( PP ( IN of ) ( NP ( CD 1989 ) ) ) ) ) ) ( VP ( VBD were ) ( ADJP-PRD ( ADJP ( NP ( CD 34 ) ( NN % ) ) ( JJR higher ) ) ( PP ( IN than ) ( PP-TMP ( IN in ) ( NP ( DT the ) ( JJ year-earlier ) ( NN period ) ) ) ) ) ) )

Overall PC sales in Japan in the first half of 1989 were 34 % higher than in the year-earlier period


( S ( NP-SBJ ( NP ( JJ Combined ) ( UCP ( NN PC ) ( CC and ) ( NN work-station ) ) ( NN use ) ) ( PP-LOC ( IN in ) ( NP ( NNP Japan ) ) ) ) ( VP ( MD will ) ( VP ( VB jump ) ( NP-EXT ( NP ( QP ( RB as ) ( JJ much ) ( IN as ) ( CD 25 ) ) ( NN % ) ) ( ADVP ( RB annually ) ) ) ( PP-TMP ( IN over ) ( NP ( DT the ) ( JJ next ) ( CD five ) ( NNS years ) ) ) ( PP ( VBG according ) ( PP ( TO to ) ( NP ( DT some ) ( NNS analysts ) ) ) ) ( PP ( VBN compared ) ( PP ( IN with ) ( NP ( NP ( QP ( RB about ) ( CD 10 ) ) ( NN % ) ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( NNP U.S. ) ) ) ) ) ) ) ) )

Combined PC and work-station use in Japan will jump as much as 25 % annually over the next five years according to some analysts compared with about 10 % in the U.S.


( S ( CC And ) ( PP ( IN with ) ( NP ( NP ( DT a ) ( NN labor ) ( NN shortage ) ) ( CC and ) ( NP ( JJ intense ) ( JJ competitive ) ( NN pressure ) ( S ( VP ( TO to ) ( VP ( VB improve ) ( NP ( NN efficiency ) ) ) ) ) ) ) ) ( NP-SBJ ( ADJP ( JJR more ) ( CC and ) ( JJR more ) ) ( JJ Japanese ) ( NNS companies ) ) ( VP ( VBP are ) ( VP ( VBG concluding ) ( SBAR ( IN that ) ( S ( NP-SBJ ( PRP they ) ) ( VP ( VBP have ) ( NP ( DT no ) ( NN choice ) ) ) ) ) ) ) )

And with a labor shortage and intense competitive pressure to improve efficiency more and more Japanese companies are concluding that they have no choice


( SINV ( S-TPC-1 ( NP-SBJ ( PRP We ) ) ( VP ( VBP have ) ( NP ( ADJP ( RB too ) ( JJ many ) ) ( NNS people ) ) ( PP-LOC ( IN in ) ( NP ( PRP$ our ) ( NN home ) ( NNS offices ) ) ) ) ) ( VP ( VBZ says ) ) ( NP-SBJ ( NP ( NNP Yoshio ) ( NNP Hatakeyama ) ) ( NP ( NP ( DT the ) ( NN president ) ) ( PP ( IN of ) ( NP ( DT the ) ( NNP Japan ) ( NNP Management ) ( NNP Association ) ) ) ) ) )

We have too many people in our home offices says Yoshio Hatakeyama the president of the Japan Management Association


( S ( NP-SBJ ( NP ( NNP Productivity ) ) ( PP-LOC ( IN in ) ( NP ( NNP Japanese ) ( NNS offices ) ) ) ) ( VP ( VBZ is ) ( ADJP-PRD ( RB relatively ) ( JJ low ) ) ) )

Productivity in Japanese offices is relatively low


( S ( PP ( IN With ) ( S-NOM ( NP-SBJ ( NP ( NNP Japanese ) ( NNS companies ) ) ( PP-LOC ( IN in ) ( NP ( NP ( DT a ) ( JJ wide ) ( NN range ) ) ( PP ( IN of ) ( NP ( NNS industries ) ) ) ( PRN ( PP ( PP ( IN from ) ( NP ( NN heavy ) ( NN industry ) ) ) ( PP ( TO to ) ( NP ( NNS securities ) ( NNS firms ) ) ) ) ) ) ) ) ( VP ( VBG increasing ) ( NP ( PRP$ their ) ( NN market ) ( NN share ) ( JJ world-wide ) ) ) ) ) ( NP-SBJ ( NP ( DT the ) ( NN prospect ) ) ( PP ( IN of ) ( NP ( DT an ) ( ADJP ( ADVP ( RB even ) ( RBR more ) ) ( JJ efficient ) ) ( JJ Japanese ) ( JJ economic ) ( NN army ) ) ) ) ( VP ( MD may ) ( VP ( VB rattle ) ( NP ( NNS foreigners ) ) ) ) )

With Japanese companies in a wide range of industries from heavy industry to securities firms increasing their market share world-wide the prospect of an even more efficient Japanese economic army may rattle foreigners


( S ( S ( CC But ) ( NP-SBJ ( PRP it ) ) ( ADVP ( RB also ) ) ( VP ( VBZ offers ) ( NP ( NNS opportunities ) ) ) ) ( S ( NP-SBJ-1 ( NNS Americans ) ) ( VP ( VBP are ) ( ADJP-PRD ( RB well ) ( VBN poised ) ( S ( VP ( TO to ) ( VP ( VB supply ) ( NP ( DT the ) ( NNS weapons ) ) ) ) ) ) ) ) )

But it also offers opportunities Americans are well poised to supply the weapons


( S ( S ( NP-SBJ ( NNP Japan ) ) ( VP ( MD may ) ( VP ( VB be ) ( NP-PRD ( NP ( DT a ) ( JJ tough ) ( NN market ) ) ( SBAR ( IN for ) ( S ( NP-SBJ ( NNS outsiders ) ) ( VP ( TO to ) ( VP ( VB penetrate ) ) ) ) ) ) ) ) ) ( CC and ) ( S ( NP-SBJ ( DT the ) ( NNP U.S. ) ) ( VP ( VBZ is ) ( ADVP ( RB hopelessly ) ) ( PP-LOC-PRD ( IN behind ) ( NP ( NNP Japan ) ) ) ( PP-LOC ( IN in ) ( NP ( JJ certain ) ( NNS technologies ) ) ) ) ) )

Japan may be a tough market for outsiders to penetrate and the U.S. is hopelessly behind Japan in certain technologies


( S ( CC But ) ( PP-TMP ( IN for ) ( ADVP ( RB now ) ) ) ( ADVP ( IN at ) ( JJS least ) ) ( NP-SBJ ( NNS Americans ) ) ( VP ( VBP are ) ( ADJP-PRD ( RB far ) ( JJR better ) ( PP ( IN at ) ( S-NOM ( VP ( VBG making ) ( NP ( NP ( NNS PCs ) ) ( CC and ) ( NP ( NP ( DT the ) ( NN software ) ) ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( VP ( VBZ runs ) ( NP ( PRP them ) ) ) ) ) ) ) ) ) ) ) ) )

But for now at least Americans are far better at making PCs and the software that runs them


( S ( PP-TMP ( IN After ) ( NP ( NP ( NNS years ) ) ( PP ( IN of ) ( S-NOM ( VP ( VBG talking ) ( PP-CLR ( IN about ) ( S-NOM ( VP ( VBG selling ) ( PP-LOC ( IN in ) ( NP ( NNP Japan ) ) ) ) ) ) ) ) ) ) ) ( NP-SBJ ( ADJP ( JJR more ) ( CC and ) ( JJR more ) ) ( NNP U.S. ) ( NNS companies ) ) ( VP ( VBP are ) ( VP ( ADVP ( RB seriously ) ) ( VBG pouring ) ( PRT ( RP in ) ) ) ) )

After years of talking about selling in Japan more and more U.S. companies are seriously pouring in


( S ( NP-SBJ ( NNP Apple ) ( NNP Computer ) ( NNP Inc. ) ) ( VP ( VBZ has ) ( VP ( VBN doubled ) ( NP ( NP ( PRP$ its ) ( NN staff ) ) ( ADVP-LOC ( RB here ) ) ) ( PP-TMP ( IN over ) ( NP ( DT the ) ( JJ past ) ( NN year ) ) ) ) ) )

Apple Computer Inc. has doubled its staff here over the past year


( S ( NP-SBJ ( NNP Lotus ) ( NNP Development ) ( NNP Corp. ) ) ( VP ( VBZ has ) ( VP ( VBN slashed ) ( NP ( NP ( DT the ) ( NN lag ) ) ( PP ( IN between ) ( NP ( NNP U.S. ) ( CC and ) ( NNP Japan ) ( NN product ) ( NNS introductions ) ) ) ) ( PP-CLR ( TO to ) ( NP ( CD six ) ( NNS months ) ) ) ( PP-CLR ( IN from ) ( NP ( CD three ) ( NNS years ) ) ) ) ) )

Lotus Development Corp. has slashed the lag between U.S. and Japan product introductions to six months from three years


( S ( NP-SBJ ( NNP Ungermann-Bass ) ( NNP Inc. ) ) ( VP ( VBZ has ) ( NP ( NP ( DT a ) ( JJR bigger ) ( NN share ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( NN computer-network ) ( NN market ) ) ( PP-LOC ( IN in ) ( NP ( NNP Japan ) ) ) ) ) ( PP ( IN than ) ( PP-LOC ( IN at ) ( NP ( NN home ) ) ) ) ) ) )

Ungermann-Bass Inc. has a bigger share of the computer-network market in Japan than at home


( S ( CC But ) ( NP-SBJ-1 ( DT the ) ( NNS Japanese ) ) ( VP ( VBP have ) ( S ( VP ( TO to ) ( VP ( VB go ) ( NP ( DT a ) ( JJ long ) ( NN way ) ) ( S-PRP ( VP ( TO to ) ( VP ( VB catch ) ( PRT ( RP up ) ) ) ) ) ) ) ) ) )

But the Japanese have to go a long way to catch up


( SINV ( ADJP-TPC-1 ( JJ Typical ) ) ( VP ( VBZ is ) ) ( NP-SBJ ( NP ( CD one ) ( NN office ) ) ( PP ( IN of ) ( NP ( NP ( NP ( NP ( DT the ) ( NNP Ministry ) ) ( PP ( IN of ) ( NP ( NNP International ) ( NNP Trade ) ( CC and ) ( NNP Industry ) ) ) ( POS 's ) ) ( NNP Machinery ) ( CC and ) ( NNP Information ) ( NNP Industries ) ( NNP Bureau ) ) ( NP ( NP ( DT the ) ( JJ main ) ( NN bureaucracy ) ) ( VP ( VBG overseeing ) ( NP ( DT the ) ( NN computer ) ( NN industry ) ) ) ) ) ) ) )

Typical is one office of the Ministry of International Trade and Industry 's Machinery and Information Industries Bureau the main bureaucracy overseeing the computer industry


( S ( S ( NP-SBJ ( NNP Personal ) ( NNP Computer ) ( NNS yearbooks ) ) ( VP ( VBP are ) ( VP ( VBN lined ) ( PRT ( RP up ) ) ( PP-LOC ( IN on ) ( NP ( RB nearly ) ( DT every ) ( NN desk ) ) ) ) ) ) ( CC and ) ( S ( NP-SBJ ( NP ( JJ dog-eared ) ( NNS copies ) ) ( PP ( IN of ) ( NP ( NNP Nikkei ) ( NNP Computer ) ) ) ) ( VP ( VBP crowd ) ( NP ( NN magazine ) ( NNS racks ) ) ) ) )

Personal Computer yearbooks are lined up on nearly every desk and dog-eared copies of Nikkei Computer crowd magazine racks


( SINV ( CC But ) ( PP-LOC-CLR-TPC-1 ( IN amid ) ( NP ( DT the ) ( QP ( CD two ) ( NN dozen ) ) ( NNS bureaucrats ) ( CC and ) ( NNS secretaries ) ) ) ( VP ( VBZ sits ) ) ( NP-SBJ ( QP ( RB only ) ( CD one ) ) ( JJ real-life ) ( NN PC ) ) )

But amid the two dozen bureaucrats and secretaries sits only one real-life PC


( S ( SBAR-ADV ( IN While ) ( S ( S ( NP-SBJ-1 ( JJ American ) ( NN PC ) ( NNS sales ) ) ( VP ( VBP have ) ( VP ( VBN averaged ) ( NP-2 ( ADJP ( QP ( RB roughly ) ( CD 25 ) ) ( NN % ) ) ( JJ annual ) ( NN growth ) ) ( PP-TMP ( IN since ) ( NP ( CD 1984 ) ) ) ) ) ) ( CC and ) ( S ( NP-SBJ=1 ( ADJP ( JJ West ) ( JJ European ) ) ( NNS sales ) ) ( NP=2 ( DT a ) ( JJ whopping ) ( CD 40 ) ( NN % ) ) ) ) ) ( NP-SBJ ( JJ Japanese ) ( NNS sales ) ) ( VP ( VBD were ) ( ADJP-PRD ( JJ flat ) ) ( PP-TMP ( IN for ) ( NP ( NP ( JJS most ) ) ( PP ( IN of ) ( NP ( DT that ) ( NN time ) ) ) ) ) ) )

While American PC sales have averaged roughly 25 % annual growth since 1984 and West European sales a whopping 40 % Japanese sales were flat for most of that time


( S ( NP-SBJ ( NNP Japanese ) ( NN office ) ( NNS workers ) ) ( VP ( VBP use ) ( NP ( NNS PCs ) ) ( PP ( IN at ) ( NP ( NP ( NP ( PDT half ) ( DT the ) ( NN rate ) ) ( PP ( IN of ) ( NP ( PRP$ their ) ( JJ European ) ( NNS counterparts ) ) ) ) ( CC and ) ( NP ( NP ( JJ one-third ) ( IN that ) ) ( PP ( IN of ) ( NP ( DT the ) ( NNS Americans ) ) ) ) ) ) ) )

Japanese office workers use PCs at half the rate of their European counterparts and one-third that of the Americans


( S ( ADVP ( RB Moreover ) ) ( NP-SBJ-1 ( JJ Japanese ) ( NNS offices ) ) ( VP ( VBP tend ) ( S ( VP ( TO to ) ( VP ( VB use ) ( NP ( NNS computers ) ) ( ADVP-MNR ( ADVP ( RBR less ) ( RB efficiently ) ) ( SBAR ( IN than ) ( S ( NP-SBJ ( JJ American ) ( NNS offices ) ) ( VP ( VBP do ) ) ) ) ) ) ) ) ) )

Moreover Japanese offices tend to use computers less efficiently than American offices do


( S ( PP-LOC ( IN In ) ( NP ( DT the ) ( NNP U.S. ) ) ) ( NP-SBJ ( NNS PCs ) ) ( VP ( ADVP ( RB commonly ) ) ( VP ( VBP perform ) ( NP ( JJ many ) ( NNS tasks ) ) ) ( CC and ) ( VP ( VBP plug ) ( PP-CLR ( IN into ) ( NP ( DT a ) ( JJ broad ) ( NN network ) ) ) ) ) )

In the U.S. PCs commonly perform many tasks and plug into a broad network


( S ( PP-LOC ( IN In ) ( NP ( NNP Japan ) ) ) ( NP-SBJ ( JJ many ) ( NN desktop ) ( NNS terminals ) ) ( VP ( VP ( VBP are ) ( ADJP-PRD ( VBN limited ) ( PP ( TO to ) ( NP ( CD one ) ( NN function ) ) ) ) ) ( CC and ) ( VP ( MD ca ) ( RB n't ) ( VP ( VB communicate ) ( PP-CLR ( IN with ) ( NP ( JJ other ) ( NNS machines ) ) ) ) ) ) )

In Japan many desktop terminals are limited to one function and ca n't communicate with other machines


( S ( NP-SBJ ( NP ( DT The ) ( NN market ) ( NN planning ) ( CC and ) ( JJ sales ) ( NN promotion ) ( NN office ) ) ( PP ( IN of ) ( NP ( NNP Nomura ) ( NNP Securities ) ( NNP Co. ) ) ) ) ( PP ( IN for ) ( NP ( NN example ) ) ) ( VP ( VBZ has ) ( NP ( NP ( NP ( QP ( JJR more ) ( IN than ) ( CD 30 ) ) ( NNS computers ) ) ( PP ( IN for ) ( NP ( PRP$ its ) ( CD 60 ) ( NNS workers ) ) ) ) ( NP ( DT a ) ( JJ respectable ) ( NN ratio ) ) ) ) )

The market planning and sales promotion office of Nomura Securities Co. for example has more than 30 computers for its 60 workers a respectable ratio


( S ( S ( CC But ) ( NP-SBJ ( DT the ) ( NNS machines ) ) ( VP ( VBP are ) ( RB n't ) ( PP-LOC-PRD ( IN on ) ( NP ( NP ( NNS employees ) ( POS ' ) ) ( NNS desks ) ) ) ) ) ( S ( NP-SBJ ( PRP they ) ) ( VP ( VBP ring ) ( NP ( NP ( DT the ) ( NN perimeter ) ) ( PP ( IN of ) ( NP ( DT the ) ( JJ large ) ( NN office ) ) ) ) ) ) )

But the machines are n't on employees ' desks they ring the perimeter of the large office


( S ( NP-SBJ ( DT Some ) ( NNS machines ) ) ( VP ( VBP make ) ( NP ( NP ( NNS charts ) ) ( PP ( IN for ) ( NP ( NNS presentations ) ) ) ) ) )

Some machines make charts for presentations


( S ( NP-SBJ ( NNS Others ) ) ( VP ( VBP analyze ) ( NP ( DT the ) ( NN data ) ) ) )

Others analyze the data


( S ( S-PRP ( VP ( TO To ) ( VP ( VB transfer ) ( NP ( NN information ) ) ( PP-DIR ( IN from ) ( NP ( CD one ) ) ) ( PP-DIR ( TO to ) ( NP ( DT the ) ( JJ other ) ) ) ) ) ) ( NP-SBJ-1 ( NNS employees ) ) ( VP ( VP ( VBP make ) ( NP ( NNS printouts ) ) ) ( CC and ) ( VP ( VBP enter ) ( NP ( DT the ) ( NN data ) ) ( ADVP-MNR ( RB manually ) ) ) ) )

To transfer information from one to the other employees make printouts and enter the data manually


( S ( S-PRP ( VP ( TO To ) ( VP ( VB transmit ) ( NP ( NNS charts ) ) ( PP-DIR ( TO to ) ( NP ( NN branch ) ( NNS offices ) ) ) ) ) ) ( NP-SBJ-1 ( PRP they ) ) ( VP ( VBP use ) ( NP ( DT a ) ( NN fax ) ( NN machine ) ) ) )

To transmit charts to branch offices they use a fax machine


( S ( ADVP-TMP ( RB Meanwhile ) ) ( NP-SBJ ( NP ( DT a ) ( NN woman ) ) ( VP ( VBG sitting ) ( ADVP-LOC ( JJ next ) ( PP ( TO to ) ( NP ( DT a ) ( JJ new ) ( NNP Fujitsu ) ( NN terminal ) ) ) ) ) ) ( VP ( VP ( VBZ writes ) ( NP ( JJ stock-market ) ( NN information ) ) ( PP-LOC ( IN on ) ( NP ( DT a ) ( NN chart ) ) ) ( PP-MNR ( IN with ) ( NP ( DT a ) ( NN pencil ) ) ) ) ( CC and ) ( VP ( VBZ adds ) ( NP ( PRP it ) ) ( PRT ( RP up ) ) ( PP-MNR ( IN with ) ( NP ( DT a ) ( NN hand ) ( NN calculator ) ) ) ) ) )

Meanwhile a woman sitting next to a new Fujitsu terminal writes stock-market information on a chart with a pencil and adds it up with a hand calculator


( S ( PP-LOC ( IN In ) ( NP ( DT an ) ( JJ efficient ) ( NN setup ) ) ) ( NP-SBJ ( DT the ) ( JJ same ) ( NNP PC ) ) ( VP ( MD could ) ( VP ( VB perform ) ( NP ( DT all ) ( DT those ) ( NNS tasks ) ) ) ) )

In an efficient setup the same PC could perform all those tasks


( S ( PP-LOC ( IN In ) ( NP ( DT the ) ( NNP U.S. ) ) ) ( NP-SBJ ( NP ( QP ( JJR more ) ( IN than ) ( PDT half ) ) ( DT the ) ( NN PC ) ( NN software ) ) ( VP ( VBN sold ) ) ) ( VP ( VBZ is ) ( PP-PRD ( DT either ) ( PP ( IN for ) ( NP ( NNS spreadsheets ) ) ) ( CC or ) ( PP ( IN for ) ( NP ( NN database ) ( NN analysis ) ) ) ) ( PP ( VBG according ) ( PP ( TO to ) ( NP ( NNP Lotus ) ) ) ) ) )

In the U.S. more than half the PC software sold is either for spreadsheets or for database analysis according to Lotus


( S ( PP-LOC ( IN In ) ( NP ( NNP Japan ) ) ) ( NP-SBJ ( DT those ) ( NNS functions ) ) ( VP ( VBP account ) ( PP-CLR ( IN for ) ( NP ( NP ( QP ( RB only ) ( RB about ) ( DT a ) ( JJ third ) ) ) ( PP ( IN of ) ( NP ( DT the ) ( NN software ) ( NN market ) ) ) ) ) ) )

In Japan those functions account for only about a third of the software market


( S ( NP-SBJ ( NP ( NNS Machines ) ) ( VP ( VBN dedicated ) ( ADVP ( RB solely ) ) ( PP-CLR ( TO to ) ( NP ( NN word ) ( NN processing ) ) ) ) ( SBAR ( WHNP-1 ( WDT which ) ) ( S ( VP ( VBP have ) ( VP ( ADVP ( DT all ) ( CC but ) ) ( VBD disappeared ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( NNP U.S. ) ) ) ) ) ) ) ) ( VP ( VBP are ) ( ADVP ( RB still ) ) ( ADJP-PRD ( ADJP ( RBR more ) ( JJ common ) ) ) ( PP-LOC ( IN in ) ( NP ( NNP Japan ) ) ) ( PP-2 ( IN than ) ( NP ( NNS PCs ) ) ) ) )

Machines dedicated solely to word processing which have all but disappeared in the U.S. are still more common in Japan than PCs


( S ( PP-LOC ( IN In ) ( NP ( DT the ) ( NNP U.S. ) ) ) ( NP-SBJ ( NP ( JJ one-fifth ) ) ( PP ( IN of ) ( NP ( DT the ) ( NN office ) ( NNS PCs ) ) ) ) ( VP ( VBP are ) ( VP ( VBN hooked ) ( PRT ( RP up ) ) ( PP-CLR ( TO to ) ( NP ( NP ( DT some ) ( NN sort ) ) ( PP ( IN of ) ( NP ( NN network ) ) ) ) ) ) ) )

In the U.S. one-fifth of the office PCs are hooked up to some sort of network


( S ( PP-LOC ( IN In ) ( NP ( NNP Japan ) ) ) ( NP-SBJ-1 ( QP ( RB about ) ( CD 1 ) ) ( NN % ) ) ( VP ( VBP are ) ( VP ( VBN linked ) ) ) )

In Japan about 1 % are linked


( SINV ( S-TPC-2 ( NP-SBJ-3 ( NP ( NNS Computers ) ) ( ADVP-LOC ( RB here ) ) ) ( VP ( VBP are ) ( VP ( VBN used ) ( PP-CLR ( IN for ) ( NP ( NN data ) ( NN gathering ) ) ) ) ) ) ( VP ( VBZ says ) ) ( NP-SBJ ( NP ( NNP Roger ) ( NNP J. ) ( NNP Boisvert ) ) ( SBAR ( WHNP-1 ( WP who ) ) ( S ( VP ( VBZ manages ) ( NP ( DT the ) ( NNS integrated-technologies ) ( NN group ) ) ( PP-LOC ( IN in ) ( NP ( NP ( NNP McKinsey ) ( CC & ) ( NNP Co. ) ( POS 's ) ) ( NNP Tokyo ) ( NN office ) ) ) ) ) ) ) )

Computers here are used for data gathering says Roger J. Boisvert who manages the integrated-technologies group in McKinsey & Co. 's Tokyo office


( S-1 ( S ( NP-SBJ ( NP ( DT Some ) ( JJ Japanese ) ( NNS operations ) ) ( PP ( JJ such ) ( IN as ) ( NP ( JJ securities-trading ) ( NNS rooms ) ) ) ) ( VP ( MD may ) ( VP ( VB be ) ( ADVP-PRD ( RB ahead ) ( PP ( IN of ) ( NP ( PRP$ their ) ( JJ American ) ( NNS counterparts ) ) ) ) ) ) ) ( PRN ( S ( NP-SBJ ( PRP he ) ) ( VP ( VBZ says ) ) ) ) ( CC but ) ( S ( ADVP ( RB basically ) ) ( NP-SBJ ( EX there ) ) ( VP ( POS 's ) ( NP-PRD ( NP ( JJ little ) ( NN analysis ) ) ( VP ( VBN done ) ( PP ( IN on ) ( NP ( NNS computers ) ) ) ( PP-LOC ( IN in ) ( NP ( NNP Japan ) ) ) ) ) ) ) )

Some Japanese operations such as securities-trading rooms may be ahead of their American counterparts he says but basically there 's little analysis done on computers in Japan


( S ( PP ( IN Of ) ( NP ( NN course ) ) ) ( S ( S-NOM-SBJ ( VP ( ADVP ( RB simply ) ) ( VBG buying ) ( NP ( NNS computers ) ) ) ) ( VP ( VBZ does ) ( RB n't ) ( ADVP-TMP ( RB always ) ) ( VP ( VB solve ) ( NP ( NNS problems ) ) ) ) ) ( CC and ) ( S ( NP-SBJ-2 ( JJ many ) ( JJ American ) ( NNS companies ) ) ( VP ( VBP have ) ( VP ( VBN erred ) ( PP-MNR ( IN by ) ( S-NOM ( VP ( VBG purchasing ) ( NP ( NP ( NN technology ) ) ( SBAR ( S ( NP-SBJ ( PRP they ) ) ( VP ( VBD did ) ( RB n't ) ( VP ( VB understand ) ) ) ) ) ) ) ) ) ) ) ) )

Of course simply buying computers does n't always solve problems and many American companies have erred by purchasing technology they did n't understand


( S ( CC But ) ( NP-SBJ ( JJ healthy ) ( NN skepticism ) ) ( VP ( VBZ is ) ( ADVP ( RB only ) ) ( NP-PRD ( NP ( DT a ) ( JJ small ) ( NN reason ) ) ( PP ( IN for ) ( NP ( NP ( NNP Japan ) ( POS 's ) ) ( NNP PC ) ( NN lag ) ) ) ) ) )

But healthy skepticism is only a small reason for Japan 's PC lag


( S ( NP-SBJ ( JJ Various ) ( ADJP ( JJ cultural ) ( CC and ) ( JJ economic ) ) ( NNS forces ) ) ( VP ( VBP have ) ( VP ( VBN suppressed ) ( NP ( NN demand ) ) ) ) )

Various cultural and economic forces have suppressed demand


( S ( S ( SBAR-PRP ( IN Because ) ( S ( NP-SBJ ( DT the ) ( JJ Japanese ) ( NN alphabet ) ) ( VP ( VBZ is ) ( ADJP-PRD ( RB so ) ( JJ huge ) ) ) ) ) ( NP-SBJ ( NNP Japan ) ) ( VP ( VBZ has ) ( NP ( NP ( DT no ) ( NN history ) ) ( PP ( IN of ) ( NP ( NN typewriter ) ( NN use ) ) ) ) ) ) ( CC and ) ( ADVP ( IN so ) ) ( S ( NP-SBJ ( NP ( NN keyboard ) ( NN allergy ) ) ( PP ( ADVP ( RB especially ) ) ( IN among ) ( NP ( JJR older ) ( NNS workers ) ) ) ) ( VP ( VBZ remains ) ( NP-PRD ( DT a ) ( JJ common ) ( NN affliction ) ) ) ) )

Because the Japanese alphabet is so huge Japan has no history of typewriter use and so keyboard allergy especially among older workers remains a common affliction


( SINV ( S-TPC-1 ( NP-SBJ ( PRP I ) ) ( VP ( VBP have ) ( NP ( NP ( DT no ) ( NN experience ) ) ( ADVP-TMP ( RB before ) ) ( PP ( IN with ) ( NP ( JJ such ) ( JJ sophisticated ) ( NN machinery ) ) ) ) ) ) ( VP ( VBZ says ) ) ( NP-SBJ-2 ( NP ( NNP Matsuo ) ( NNP Toshimitsu ) ) ( NP ( NP ( DT a ) ( JJ 66-year-old ) ( NN executive ) ( NN vice ) ( NN president ) ) ( PP ( IN of ) ( NP ( NNP Japan ) ( NNP Air ) ( NNP Lines ) ) ) ) ) ( S-ADV ( VP ( VBG explaining ) ( NP ( NP ( PRP$ his ) ( NN reluctance ) ) ( PP-TMP ( IN before ) ( S-NOM ( VP ( VBG accepting ) ( NP ( NP ( DT a ) ( NN terminal ) ) ( PP-LOC ( IN in ) ( NP ( PRP$ his ) ( NN office ) ) ) ) ( NP-TMP ( DT this ) ( NN summer ) ) ) ) ) ) ) ) )

I have no experience before with such sophisticated machinery says Matsuo Toshimitsu a 66-year-old executive vice president of Japan Air Lines explaining his reluctance before accepting a terminal in his office this summer


( S ( SBAR-ADV ( IN While ) ( S ( NP-SBJ ( JJS most ) ( JJ American ) ( NNS employees ) ) ( VP ( VBP have ) ( NP ( PRP$ their ) ( JJ own ) ( JJ private ) ( NN space ) ) ) ) ) ( NP-SBJ ( JJ Japanese ) ( NNS salarymen ) ) ( ADVP-TMP ( RB usually ) ) ( VP ( VP ( VBP share ) ( NP ( JJ large ) ( JJ common ) ( NNS tables ) ) ) ( CC and ) ( VP ( VBP rely ) ( ADVP ( RB heavily ) ) ( PP-TMP-CLR ( IN on ) ( NP ( JJ old-fashioned ) ( JJ personal ) ( NN contact ) ) ) ) ) )

While most American employees have their own private space Japanese salarymen usually share large common tables and rely heavily on old-fashioned personal contact


( S ( NP-SBJ ( JJ Top ) ( JJ Japanese ) ( NNS executives ) ) ( ADVP-TMP ( RB often ) ) ( VP ( VBP make ) ( NP ( NP ( NNS decisions ) ) ( VP ( VBN based ) ( PP-CLR ( IN on ) ( NP ( NP ( NP ( NN consensus ) ) ( CC and ) ( NP ( JJ personal ) ( NNS relationships ) ) ) ( PP ( RB rather ) ( IN than ) ( NP ( NP ( JJ complex ) ( JJ financial ) ( NNS projections ) ) ( CC and ) ( NP ( JJ fancy ) ( NNS presentations ) ) ) ) ) ) ) ) ) )

Top Japanese executives often make decisions based on consensus and personal relationships rather than complex financial projections and fancy presentations


( S ( CC And ) ( NP-SBJ ( NP ( NNP Japan ) ( POS 's ) ) ( NN management ) ( NN system ) ) ( VP ( VBZ makes ) ( S ( NP-SBJ ( NP ( PRP it ) ) ) ( ADJP-PRD ( JJ hard ) ) ( S-1 ( VP ( TO to ) ( VP ( VB impose ) ( NP ( DT a ) ( JJ single ) ( VBN integrated ) ( NN computer ) ( NN system ) ) ( ADVP-LOC ( JJ corporatewide ) ) ) ) ) ) ) )

And Japan 's management system makes it hard to impose a single integrated computer system corporatewide


( S ( ADVP ( IN Besides ) ) ( NP-SBJ ( NP ( DT a ) ( NN computer ) ) ( VP ( VBG processing ) ( NP ( DT the ) ( JJ Japanese ) ( NN language ) ) ) ) ( VP ( VBZ needs ) ( NP ( NP ( DT a ) ( JJ huge ) ( NN memory ) ) ( CC and ) ( NP ( JJ much ) ( NN processing ) ( NN capability ) ) ) ( SBAR-ADV ( IN while ) ( S ( NP-SBJ-1 ( DT the ) ( NN screen ) ( CC and ) ( NN printer ) ) ( VP ( VBP need ) ( NP ( ADJP ( RB far ) ( JJR better ) ) ( NN definition ) ) ( S-PRP ( VP ( TO to ) ( VP ( VB depict ) ( ADVP-MNR ( RB accurately ) ) ( NP ( DT the ) ( JJ intricate ) ( NNS symbols ) ) ) ) ) ) ) ) ) )

Besides a computer processing the Japanese language needs a huge memory and much processing capability while the screen and printer need far better definition to depict accurately the intricate symbols


( S ( PP-TMP ( IN Until ) ( ADVP ( RB recently ) ) ) ( NP-SBJ ( NP ( JJ much ) ) ( PP ( IN of ) ( NP ( DT the ) ( JJ necessary ) ( NN technology ) ) ) ) ( VP ( VBZ has ) ( VP ( VBN been ) ( ADJP-PRD ( ADJP ( JJ unavailable ) ) ( CC or ) ( ADVP ( IN at ) ( JJS least ) ) ( ADJP ( JJ unaffordable ) ) ) ) ) )

Until recently much of the necessary technology has been unavailable or at least unaffordable


( S ( NP-SBJ ( DT Some ) ( NNS analysts ) ) ( VP ( VBP estimate ) ( SBAR ( S ( NP-SBJ ( DT the ) ( JJ average ) ( NN PC ) ) ( VP ( VBZ costs ) ( ADJP ( ADJP ( NP-ADV ( QP ( RB about ) ( CD 50 ) ) ( NN % ) ) ( JJR more ) ) ) ( PP-LOC ( IN in ) ( NP ( NNP Japan ) ) ) ( PP-2 ( IN than ) ( NP ( DT the ) ( NNP U.S. ) ) ) ) ) ) ) )

Some analysts estimate the average PC costs about 50 % more in Japan than the U.S.


( S ( CC But ) ( NP-SBJ ( DT the ) ( JJ complex ) ( NN language ) ) ( VP ( VBZ is ) ( RB n't ) ( NP-PRD ( DT the ) ( JJ only ) ( NN reason ) ) ) )

But the complex language is n't the only reason


( S ( PP-TMP ( IN For ) ( NP ( DT the ) ( JJ past ) ( NN decade ) ) ) ( NP-SBJ ( NNP NEC ) ( NNP Corp. ) ) ( VP ( VBZ has ) ( VP ( VP ( VBN owned ) ( NP ( QP ( JJR more ) ( IN than ) ( PDT half ) ) ( DT the ) ( JJ Japanese ) ( NN PC ) ( NN market ) ) ) ( CC and ) ( VP ( VBD ruled ) ( NP ( PRP it ) ) ( PP-MNR ( IN with ) ( NP ( JJ near-monopoly ) ( NN power ) ) ) ) ) ) )

For the past decade NEC Corp. has owned more than half the Japanese PC market and ruled it with near-monopoly power


( S ( PP ( IN With ) ( NP ( JJ little ) ( NN competition ) ) ) ( NP-SBJ ( NP ( DT the ) ( NN computer ) ( NN industry ) ) ( ADVP-LOC ( RB here ) ) ) ( VP ( VBZ is ) ( ADJP-PRD ( JJ inefficient ) ) ) )

With little competition the computer industry here is inefficient


( S ( NP-SBJ-1 ( DT The ) ( NNP U.S. ) ( NN market ) ) ( ADVP ( RB too ) ) ( VP ( VBZ is ) ( VP ( VBN dominated ) ( PP ( IN by ) ( NP-LGS ( NP ( DT a ) ( NN giant ) ) ( NP ( NNP International ) ( NNP Business ) ( NNP Machines ) ( NNP Corp ) ) ) ) ) ) )

The U.S. market too is dominated by a giant International Business Machines Corp


( S ( CC But ) ( ADVP-TMP ( RB early ) ( RB on ) ) ( NP-SBJ ( NNP IBM ) ) ( VP ( VBD offered ) ( NP ( PRP$ its ) ( JJ basic ) ( NN design ) ) ( PP-DTV ( TO to ) ( NP ( NP ( NN anybody ) ) ( VP ( VBG wanting ) ( S ( VP ( TO to ) ( VP ( VB copy ) ( NP ( PRP it ) ) ) ) ) ) ) ) ) )

But early on IBM offered its basic design to anybody wanting to copy it


( S ( NP-SBJ-1 ( NP ( NNS Dozens ) ) ( PP ( IN of ) ( NP ( JJ small ) ( NNS companies ) ) ) ) ( VP ( VBD did ) ( S-ADV ( ADVP-MNR ( RB swiftly ) ) ( VP ( VBG establishing ) ( NP ( DT a ) ( NN standard ) ( NN operating ) ( NN system ) ) ) ) ) )

Dozens of small companies did swiftly establishing a standard operating system


( S ( NP-SBJ ( DT That ) ) ( VP ( VP ( VBZ spurs ) ( NP ( NN competition ) ( CC and ) ( NN growth ) ) ) ( VP ( VBZ allows ) ( S ( NP-SBJ ( NNS users ) ) ( VP ( TO to ) ( VP ( VB change ) ( CC and ) ( VB mix ) ( NP ( NNS brands ) ) ( ADVP-MNR ( RB easily ) ) ) ) ) ) ( CC and ) ( VP ( VBZ increases ) ( NP ( NP ( NN software ) ( NNS firms ) ( POS ' ) ) ( NN incentive ) ( S ( VP ( TO to ) ( VP ( VB write ) ( NP ( NNS packages ) ) ) ) ) ) ( SBAR-PRP ( IN because ) ( S ( NP-SBJ-1 ( PRP they ) ) ( VP ( MD can ) ( VP ( VB be ) ( VP ( VBN sold ) ( PP-DTV ( TO to ) ( NP ( NP ( NNS users ) ) ( PP ( IN of ) ( NP ( RB virtually ) ( DT any ) ( NN computer ) ) ) ) ) ) ) ) ) ) ) ) )

That spurs competition and growth allows users to change and mix brands easily and increases software firms ' incentive to write packages because they can be sold to users of virtually any computer


( S ( SBAR-ADV ( IN If ) ( S ( NP-SBJ ( DT a ) ( NN record ) ( NN industry ) ) ( VP ( VBD lacked ) ( NP ( DT a ) ( JJ common ) ( NN standard ) ) ) ) ) ( NP-SBJ ( NNP Sony ) ( NN CD ) ( NNS owners ) ) ( VP ( MD could ) ( VP ( VB listen ) ( PP-CLR ( TO to ) ( NP ( NP ( NP ( DT a ) ( NNP Sony ) ( NN version ) ) ( PP ( IN of ) ( NP ( NP ( NNP Madonna ) ( POS 's ) ) ( PP-TTL ( IN Like ) ( NP ( DT a ) ( NN Prayer ) ) ) ) ) ) ( CC but ) ( RB not ) ( NP ( NP ( CD one ) ) ( VP ( VBD made ) ( PP-CLR ( IN for ) ( NP ( DT a ) ( NNP Panasonic ) ( NN player ) ) ) ) ) ) ) ) ) )

If a record industry lacked a common standard Sony CD owners could listen to a Sony version of Madonna 's Like a Prayer but not one made for a Panasonic player


( S ( NP-SBJ ( DT That ) ) ( VP ( VBZ is ) ( NP-PRD ( NP ( DT the ) ( NN state ) ) ( PP ( IN of ) ( NP ( NP ( NNP Japan ) ( POS 's ) ) ( NN computer ) ( NN industry ) ) ) ) ) )

That is the state of Japan 's computer industry


( S ( S ( NP-SBJ ( NNP NEC ) ) ( VP ( MD wo ) ( RB n't ) ( VP ( VB release ) ( NP ( PRP$ its ) ( NN code ) ) ) ) ) ( CC and ) ( S ( NP-SBJ ( NP ( DT every ) ( CD one ) ) ( PP ( IN of ) ( NP ( DT the ) ( QP ( NN dozen ) ( CC or ) ( RB so ) ) ( NNS makers ) ) ) ) ( VP ( VBZ has ) ( NP ( PRP$ its ) ( JJ own ) ( NN proprietary ) ( NN operating ) ( NN system ) ) ( PRN ( S-ADV ( NP-SBJ ( DT all ) ) ( ADJP-PRD ( JJ incompatible ) ( PP ( IN with ) ( NP ( DT each ) ( JJ other ) ) ) ) ) ) ) ) )

NEC wo n't release its code and every one of the dozen or so makers has its own proprietary operating system all incompatible with each other


( S ( S ( NP-SBJ-4 ( NNP IBM ) ) ( VP ( VBD established ) ( NP ( PRP$ its ) ( NN standard ) ) ( S-PRP ( VP ( TO to ) ( VP ( VB try ) ( S ( VP ( TO to ) ( VP ( VB stop ) ( S ( VP ( VBG falling ) ( PP-LOC ( IN behind ) ( NP ( NN upstart ) ( NNP Apple ) ( NNP Computer ) ) ) ) ) ) ) ) ) ) ) ) ) ( CC but ) ( S ( NP-SBJ-2 ( NNP NEC ) ) ( VP ( VP ( VBD was ) ( ADVP-PRD ( RB ahead ) ) ( PP-TMP ( IN from ) ( NP ( DT the ) ( NN start ) ) ) ) ( CC and ) ( VP ( VBD did ) ( RB n't ) ( VP ( VB need ) ( S ( VP ( TO to ) ( VP ( VB invite ) ( PRT ( RP in ) ) ( NP ( JJ competitive ) ( NNS allies ) ) ) ) ) ) ) ) ) )

IBM established its standard to try to stop falling behind upstart Apple Computer but NEC was ahead from the start and did n't need to invite in competitive allies


( S ( ADVP-TMP ( RB Meanwhile ) ) ( NP-SBJ-1 ( DT the ) ( JJ big ) ( NNS players ) ) ( VP ( VBP have ) ( RB n't ) ( VP ( VBN tried ) ( S ( VP ( TO to ) ( VP ( VB copy ) ( NP ( DT the ) ( NNP NEC ) ( NN standard ) ) ) ) ) ) ) )

Meanwhile the big players have n't tried to copy the NEC standard


( S ( NP-SBJ-1 ( NP ( JJ Corporate ) ( NN pride ) ) ( CONJP ( RB as ) ( RB well ) ( IN as ) ) ( NP ( NP ( DT the ) ( JJ close ) ( NNS ties ) ) ( ADJP ( JJ common ) ( PP ( IN among ) ( NP ( JJ Japanese ) ( NNS manufacturers ) ) ) ) ) ) ( VP ( VBP help ) ( S ( VP ( VB explain ) ( FRAG ( WHADVP ( WRB why ) ) ) ) ) ) )

Corporate pride as well as the close ties common among Japanese manufacturers help explain why


( S ( S-TPC-1 ( NP-SBJ ( JJS Most ) ( NNS rivals ) ) ( VP ( VBP have ) ( NP ( NP ( DT a ) ( NN working ) ( NN relationship ) ) ( PP ( IN with ) ( NP ( NNP NEC ) ) ) ) ( PRN ( ADVP-TMP ( RB often ) ) ( PP-MNR ( IN through ) ( NP ( NP ( NN cross-licensing ) ) ( PP ( IN of ) ( NP ( NN technology ) ) ) ) ) ) ) ) ( NP-SBJ ( DT the ) ( NNP Japan ) ( NNP Personal ) ( NNP Computer ) ( NNP Software ) ( NNP Association ) ) ( VP ( VBD noted ) ( ADVP-TMP ( RB recently ) ) ) )

Most rivals have a working relationship with NEC often through cross-licensing of technology the Japan Personal Computer Software Association noted recently


( S ( S ( NP-SBJ-1 ( PRP They ) ) ( VP ( VBP hesitate ) ( S ( VP ( TO to ) ( VP ( VB market ) ( NP ( JJ NEC-compatible ) ( NNS machines ) ) ) ) ) ) ) ( S ( S ( NP-SBJ ( NNP NEC ) ) ( VP ( VBZ disapproves ) ( PP-CLR ( IN of ) ( NP ( JJ such ) ( NNS machines ) ) ) ) ) ( CC and ) ( S ( S-NOM-SBJ ( VP ( VBG marketing ) ( NP ( CD one ) ) ) ) ( VP ( MD would ) ( VP ( VB jeopardize ) ( NP ( PRP$ their ) ( NN relationship ) ) ) ) ) ) )

They hesitate to market NEC-compatible machines NEC disapproves of such machines and marketing one would jeopardize their relationship


( S ( NP-SBJ ( DT The ) ( NN result ) ) ( PP ( VBG according ) ( PP ( TO to ) ( NP ( JJ many ) ( NNS analysts ) ) ) ) ( VP ( VBZ is ) ( NP-PRD ( NP ( JJR higher ) ( NNS prices ) ) ( CC and ) ( NP ( JJR less ) ( NN innovation ) ) ) ) )

The result according to many analysts is higher prices and less innovation


( S ( SBAR-ADV ( IN While ) ( S ( NP-SBJ ( NP ( NNS tens ) ) ( PP ( IN of ) ( NP ( NP ( NNS thousands ) ) ( PP ( IN of ) ( NP ( NP ( NN software ) ( NNS packages ) ) ( VP ( VBG using ) ( NP ( DT the ) ( NNP IBM ) ( NN standard ) ) ) ) ) ) ) ) ( VP ( VBP are ) ( ADJP-PRD ( JJ available ) ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( NNP U.S. ) ) ) ) ) ) ( NP-SBJ-1 ( PRP they ) ) ( VP ( VBP say ) ( SBAR ( S ( NP-SBJ ( QP ( RB only ) ( RB about ) ( CD 8,000 ) ) ) ( VP ( VBP are ) ( VP ( VBN written ) ( PP ( IN for ) ( NP ( NNP NEC ) ) ) ) ) ) ) ) )

While tens of thousands of software packages using the IBM standard are available in the U.S. they say only about 8,000 are written for NEC


( S ( ADVP-TMP ( NP ( DT A ) ( NN year ) ) ( RB ago ) ) ( NP-SBJ ( NP ( NNP Japan ) ( POS 's ) ) ( NNP Fair ) ( NNP Trade ) ( NNP Commission ) ) ( VP ( VBD warned ) ( NP ( NNP NEC ) ) ( PP-CLR ( IN about ) ( NP ( NP ( JJ possible ) ( NNS violations ) ) ( PP ( IN of ) ( NP ( JJ anti-monopoly ) ( NNS laws ) ) ) ) ) ( PP-CLR ( IN for ) ( S-NOM ( VP ( VBG discouraging ) ( NP-1 ( NNS retailers ) ) ( PP-CLR ( IN from ) ( S-NOM ( VP ( VBG discounting ) ) ) ) ) ) ) ) )

A year ago Japan 's Fair Trade Commission warned NEC about possible violations of anti-monopoly laws for discouraging retailers from discounting


( SINV ( S-TPC-1 ( PP-LOC ( IN In ) ( NP ( NNP Japan ) ) ) ( NP-SBJ ( NN software ) ) ( VP ( VBZ is ) ( PP-PRD ( NP-ADV ( QP ( CD four ) ( TO to ) ( CD five ) ) ( NNS years ) ) ( IN behind ) ( NP ( DT the ) ( NNP U.S. ) ) ) ( SBAR-PRP ( IN because ) ( S ( NP-SBJ ( NN hardware ) ) ( VP ( VBZ is ) ( ADVP-PRD ( NP ( QP ( CD four ) ( TO to ) ( CD five ) ) ( NNS years ) ) ( IN behind ) ) ( SBAR-PRP ( IN because ) ( S ( NP-SBJ ( NNP NEC ) ) ( VP ( VBZ is ) ( VP ( VBG enjoying ) ( NP ( DT a ) ( NN monopoly ) ) ) ) ) ) ) ) ) ) ) ( VP ( VBZ complains ) ) ( NP-SBJ ( NP ( NNP Kazuhiko ) ( NNP Nishi ) ) ( NP ( NP ( DT the ) ( NN president ) ) ( PP ( IN of ) ( NP ( NP ( NNP Ascii ) ( NNP Corp. ) ) ( NP ( NP ( CD one ) ) ( PP ( IN of ) ( NP ( NP ( NNP Japan ) ( POS 's ) ) ( JJ leading ) ( JJ PC-magazine ) ( NN publishing ) ( CC and ) ( NN software ) ( NNS companies ) ) ) ) ) ) ) ) )

In Japan software is four to five years behind the U.S. because hardware is four to five years behind because NEC is enjoying a monopoly complains Kazuhiko Nishi the president of Ascii Corp. one of Japan 's leading PC-magazine publishing and software companies


( S ( NP-SBJ ( EX There ) ) ( VP ( VBP are ) ( NP-PRD ( NP ( DT no ) ( NN price ) ( NNS wars ) ) ( NP ( DT no ) ( NN competition ) ) ) ) )

There are no price wars no competition


( S ( NP-SBJ ( DT An ) ( NNP NEC ) ( NN spokeswoman ) ) ( VP ( VBZ responds ) ( SBAR ( IN that ) ( S ( NP-SBJ ( NNS prices ) ) ( VP ( VBP are ) ( ADJP-PRD ( JJR higher ) ) ( PP-LOC ( IN in ) ( NP ( NNP Japan ) ) ) ( SBAR-PRP ( IN because ) ( S ( NP-SBJ ( NNS customers ) ) ( VP ( VBP put ) ( NP ( NP ( DT a ) ( JJR greater ) ( NN emphasis ) ) ) ( PP-PUT ( IN on ) ( NP ( NN quality ) ( CC and ) ( NN service ) ) ) ( SBAR-1 ( IN than ) ( S ( NP-SBJ ( PRP they ) ) ( VP ( VBP do ) ( VP ( PP-LOC ( IN in ) ( NP ( DT the ) ( NNP U.S. ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

An NEC spokeswoman responds that prices are higher in Japan because customers put a greater emphasis on quality and service than they do in the U.S.


( S ( NP-SBJ ( PRP She ) ) ( VP ( VBZ adds ) ( SBAR ( IN that ) ( S ( NP-SBJ ( DT some ) ( JJ technological ) ( NNS advances ) ) ( VP ( VBP trail ) ( NP ( NP ( DT those ) ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( NNP U.S. ) ) ) ) ( SBAR-PRP ( IN because ) ( S ( NP-SBJ ( DT the ) ( NNS Japanese ) ) ( VP ( ADVP ( RB still ) ) ( VBP import ) ( NP ( JJ basic ) ( VBG operating ) ( NNS systems ) ) ( PP-DIR ( IN from ) ( NP ( JJ American ) ( NNS companies ) ) ) ) ) ) ) ) ) ) )

She adds that some technological advances trail those in the U.S. because the Japanese still import basic operating systems from American companies


( S ( CC But ) ( NP-SBJ ( DT the ) ( NN market ) ) ( VP ( VBZ is ) ( VP ( VBG changing ) ) ) )

But the market is changing


( S ( NP-SBJ ( DT The ) ( NN government ) ) ( VP ( VBZ is ) ( VP ( VBG funding ) ( NP ( JJ several ) ( NNS projects ) ) ( S-PRP ( VP ( TO to ) ( VP ( VB push ) ( NP ( NN PC ) ( NN use ) ) ) ) ) ) ) )

The government is funding several projects to push PC use


( S ( PP-TMP ( IN Over ) ( NP ( DT the ) ( JJ next ) ( CD three ) ( NNS years ) ) ) ( NP-SBJ ( JJ public ) ( NNS schools ) ) ( VP ( MD will ) ( VP ( VB get ) ( NP ( NP ( QP ( CD 1.5 ) ( CD million ) ) ( NNS PCs ) ) ( NP ( NP ( DT a ) ( JJ 15-fold ) ( NN increase ) ) ( PP ( IN from ) ( NP ( JJ current ) ( NNS levels ) ) ) ) ) ) ) )

Over the next three years public schools will get 1.5 million PCs a 15-fold increase from current levels


( S ( PP-LOC ( IN In ) ( NP ( DT the ) ( JJ private ) ( NN sector ) ) ) ( NP-SBJ ( RB practically ) ( DT every ) ( JJ major ) ( NN company ) ) ( VP ( VBZ is ) ( VP ( VBG setting ) ( NP ( JJ explicit ) ( NNS goals ) ( S ( VP ( TO to ) ( VP ( VB increase ) ( NP ( NP ( NP ( NNS employees ) ( POS ' ) ) ( NN exposure ) ) ( PP ( TO to ) ( NP ( NNS computers ) ) ) ) ) ) ) ) ) ) )

In the private sector practically every major company is setting explicit goals to increase employees ' exposure to computers


( S ( S ( NP-SBJ ( NP ( NP ( NNP Toyota ) ( NNP Motor ) ( NNP Corp. ) ( POS 's ) ) ( NNS sales ) ( NNS offices ) ) ( PP-LOC ( IN in ) ( NP ( NNP Japan ) ) ) ) ( VP ( VBP have ) ( NP ( NP ( JJ one-tenth ) ( DT the ) ( NNS computers ) ) ( PP ( IN per ) ( NP ( NN employee ) ) ) ( SBAR ( WHNP-1 ( IN that ) ) ( S ( NP-SBJ ( PRP$ its ) ( JJ own ) ( NNP U.S. ) ( NNS offices ) ) ( VP ( VBP do ) ) ) ) ) ) ) ( S ( PP-TMP ( IN over ) ( NP ( DT the ) ( JJ next ) ( CD five ) ( NNS years ) ) ) ( NP-SBJ ( PRP it ) ) ( VP ( VBZ is ) ( VP ( VBG aiming ) ( PP-CLR ( IN for ) ( NP ( JJ rough ) ( NN parity ) ) ) ) ) ) )

Toyota Motor Corp. 's sales offices in Japan have one-tenth the computers per employee that its own U.S. offices do over the next five years it is aiming for rough parity


( S ( PP-TMP ( IN Within ) ( NP ( DT a ) ( NN year ) ) ) ( NP-SBJ-1 ( NP ( NNP Kao ) ( NNP Corp. ) ) ( NP ( DT a ) ( JJ major ) ( NNS cosmetics ) ( NN company ) ) ) ( VP ( VBZ plans ) ( S ( VP ( TO to ) ( VP ( VB eliminate ) ( NP ( CD 1,000 ) ( JJ clerical ) ( NNS jobs ) ) ( PP-MNR ( IN by ) ( S-NOM ( VP ( VBG putting ) ( PP-PUT ( RP on ) ( NP ( DT a ) ( JJ central ) ( NN computer ) ( NN network ) ) ) ( NP ( NP ( DT some ) ( NN work ) ) ( PP ( JJ such ) ( IN as ) ( NP ( NN credit ) ( NNS reports ) ) ) ( VP ( ADVP-TMP ( RB currently ) ) ( VBN performed ) ( PP-LOC ( IN in ) ( NP ( CD 22 ) ( JJ separate ) ( NNS offices ) ) ) ) ) ) ) ) ) ) ) ) )

Within a year Kao Corp. a major cosmetics company plans to eliminate 1,000 clerical jobs by putting on a central computer network some work such as credit reports currently performed in 22 separate offices


( S ( PP-MNR ( IN By ) ( S-NOM ( VP ( VBG increasing ) ( NP ( NP ( DT the ) ( NN number ) ) ( PP ( IN of ) ( NP ( NNS PCs ) ) ) ( SBAR ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBZ uses ) ) ) ) ) ( PP-DIR ( IN from ) ( NP ( CD 66 ) ) ) ( PP-DIR ( TO to ) ( NP ( CD 1,000 ) ) ) ) ) ) ( NP-SBJ-3 ( NP ( NNP Omron ) ( NNP Tateishi ) ( NNP Electronics ) ( NNP Co. ) ) ( PP ( IN of ) ( NP ( NNP Kyoto ) ) ) ) ( VP ( VBZ hopes ) ( S ( VP ( CONJP ( RB not ) ( JJ only ) ) ( VP ( TO to ) ( VP ( VB make ) ( S ( NP-SBJ ( JJ certain ) ( NNS tasks ) ) ( ADJP-PRD ( RBR easier ) ) ) ) ) ( CONJP ( CC but ) ( RB also ) ) ( VP ( TO to ) ( VP ( VB transform ) ( NP ( NP ( DT the ) ( NN way ) ) ( SBAR ( S ( NP-SBJ-1 ( DT the ) ( NN company ) ) ( VP ( VBZ is ) ( VP ( VBN run ) ) ) ) ) ) ) ) ) ) ) )

By increasing the number of PCs it uses from 66 to 1,000 Omron Tateishi Electronics Co. of Kyoto hopes not only to make certain tasks easier but also to transform the way the company is run


( S ( S-TPC-2 ( NP-SBJ ( NNS Managers ) ) ( VP ( VBP have ) ( ADVP-TMP ( RB long ) ) ( VP ( VBN been ) ( NP-PRD ( NP ( DT those ) ) ( SBAR ( WHNP-1 ( WP who ) ) ( S ( VP ( VBP supervise ) ( NP ( PRP$ their ) ( NNS subordinates ) ) ( SBAR-PRP ( IN so ) ( S ( NP-SBJ-3 ( NNS orders ) ) ( VP ( MD would ) ( VP ( VB be ) ( ADVP-MNR ( RB properly ) ) ( VP ( VBN acted ) ( PP-CLR ( IN on ) ) ) ) ) ) ) ) ) ) ) ) ) ) ( NP-SBJ ( DT a ) ( NN spokesman ) ) ( VP ( VBZ says ) ) )

Managers have long been those who supervise their subordinates so orders would be properly acted on a spokesman says


( S ( CC But ) ( S ( NP-SBJ-1 ( JJ new ) ( NNS managers ) ) ( VP ( MD will ) ( VP ( VBP have ) ( S ( VP ( TO to ) ( VP ( VB be ) ( NP-PRD ( NNS creators ) ( CC and ) ( NNS innovators ) ) ) ) ) ) ) ) ( CC and ) ( S ( PP-PRP ( IN for ) ( NP ( DT that ) ( NN purpose ) ) ) ( NP-SBJ ( NP ( PRP it ) ) ) ( VP ( VBZ is ) ( ADJP-PRD ( JJ necessary ) ) ( S-2 ( VP ( TO to ) ( VP ( VB create ) ( NP ( NP ( DT an ) ( NN environment ) ) ( SBAR ( WHADVP-3 ( WRB where ) ) ( S ( NP-SBJ-4 ( NP ( NN information ) ) ( PP ( IN from ) ( PP ( DT both ) ( IN inside ) ( CC and ) ( IN outside ) ( NP ( DT the ) ( NN company ) ) ) ) ) ( VP ( MD can ) ( VP ( VB be ) ( VP ( VP ( VBN reached ) ( ADVP-MNR ( RB easily ) ) ) ( CC and ) ( VP ( ADVP ( RB also ) ) ( VBN shared ) ) ) ) ) ) ) ) ) ) ) ) ) )

But new managers will have to be creators and innovators and for that purpose it is necessary to create an environment where information from both inside and outside the company can be reached easily and also shared


( S ( ADVP-TMP ( RB Meanwhile ) ) ( NP-SBJ ( JJR more ) ( NN computer ) ( NNS makers ) ) ( ADVP-TMP ( RB now ) ) ( VP ( VBP are ) ( VP ( VBG competing ) ( PP-CLR ( IN for ) ( NP ( DT the ) ( JJ new ) ( NN business ) ) ) ) ) )

Meanwhile more computer makers now are competing for the new business


( S ( NP-SBJ ( NP ( NNP Seiko ) ( NNP Epson ) ( NNP Corp. ) ) ( NP ( NP ( DT a ) ( NN newcomer ) ) ( PP ( TO to ) ( NP ( DT the ) ( NN industry ) ) ) ) ) ( VP ( VP ( VBN fought ) ( PRT ( RP off ) ) ( NP ( DT a ) ( JJ legal ) ( NN challenge ) ) ) ( CC and ) ( VP ( VBD started ) ( VP ( VBG selling ) ( NP ( NNP NEC ) ( NNS clones ) ) ( NP-TMP ( JJ last ) ( NN year ) ) ) ) ) )

Seiko Epson Corp. a newcomer to the industry fought off a legal challenge and started selling NEC clones last year


( S ( NP-SBJ ( PRP It ) ) ( VP ( VBZ has ) ( VP ( VBN won ) ( NP ( NP ( QP ( RB about ) ( CD 15 ) ) ( NN % ) ) ( PP ( IN of ) ( NP ( DT the ) ( JJ retail ) ( NN PC ) ( NN market ) ) ) ) ) ) )

It has won about 15 % of the retail PC market


( S ( NP-SBJ ( NP ( NNP Sony ) ( NNP Corp. ) ) ( SBAR ( WHNP-1 ( WDT which ) ) ( S ( ADVP-TMP ( RB temporarily ) ) ( VP ( VBD dropped ) ( PP-CLR ( IN out ) ( PP ( IN of ) ( NP ( DT the ) ( NN PC ) ( NN business ) ) ) ) ( ADVP-TMP ( NP ( CD three ) ( NNS years ) ) ( RB ago ) ) ) ) ) ) ( VP ( VP ( VBD started ) ( VP ( VBG selling ) ( NP ( PRP$ its ) ( NN work ) ( NN station ) ) ( PP-TMP ( IN in ) ( NP ( CD 1987 ) ) ) ) ) ( CC and ) ( VP ( ADVP-MNR ( RB quickly ) ) ( VBD became ) ( NP-PRD ( NP ( DT the ) ( VBG leading ) ( JJ Japanese ) ( NN company ) ) ( PP-LOC ( IN in ) ( NP ( DT that ) ( NN market ) ) ) ) ) ) )

Sony Corp. which temporarily dropped out of the PC business three years ago started selling its work station in 1987 and quickly became the leading Japanese company in that market


( S ( PP-LOC ( IN In ) ( NP ( NP ( DT a ) ( NN country ) ) ( SBAR ( WHADVP-1 ( WRB where ) ) ( S ( NP-SBJ ( NN elbow ) ( NN room ) ) ( VP ( VBZ is ) ( ADJP-PRD ( JJ scarce ) ) ) ) ) ) ) ( NP-SBJ ( JJ laptop ) ( NNS machines ) ) ( VP ( MD will ) ( VP ( VB take ) ( NP ( NP ( DT a ) ( JJ large ) ( NN portion ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( NN industry ) ( POS 's ) ) ( JJ future ) ( NN growth ) ) ) ) ) ) )

In a country where elbow room is scarce laptop machines will take a large portion of the industry 's future growth


( S ( NP-SBJ ( NNP Toshiba ) ( NNP Corp. ) ) ( VP ( VBD busted ) ( S-CLR ( ADJP-PRD ( JJ open ) ) ) ( NP-2 ( DT that ) ( NN sector ) ) ( NP-TMP ( DT this ) ( NN summer ) ) ( PP ( IN with ) ( NP ( NP ( NP ( DT a ) ( JJ notebook-sized ) ( NN machine ) ) ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( VP ( VBZ retails ) ( PP-CLR ( IN for ) ( NP ( NP ( QP ( JJR less ) ( IN than ) ( CD 200,000 ) ) ( NN yen ) ) ( PRN ( NP ( QP ( IN under ) ( CD 1,500 ) ) ) ) ) ) ) ) ) ) ( NP ( NP ( CD one ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( JJS smallest ) ( JJS cheapest ) ( NNS PCs ) ) ( ADJP ( JJ available ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( NN country ) ) ) ) ) ) ) ) ) ) )

Toshiba Corp. busted open that sector this summer with a notebook-sized machine that retails for less than 200,000 yen under 1,500 one of the smallest cheapest PCs available in the country


( S ( NP-SBJ ( NNP Fujitsu ) ( NNP Ltd. ) ) ( VP ( VBZ is ) ( VP ( VBG lavishing ) ( NP ( NP ( DT the ) ( ADJP ( RBS most ) ( JJ expensive ) ) ( NN promotion ) ( NN campaign ) ) ( PP-LOC ( IN in ) ( NP ( PRP$ its ) ( NN history ) ) ) ( PRN ( PP ( VBG including ) ( NP ( NP ( DT a ) ( JJ 100,000-guest ) ( NN bash ) ) ( PP-LOC ( IN at ) ( NP ( NNP Tokyo ) ( NNP Dome ) ) ) ) ) ) ) ( PP ( IN for ) ( NP ( NP ( PRP$ its ) ( JJ sophisticated ) ( JJ sound\/graphics ) ( JJ FM ) ( NNP Towns ) ( NN machine ) ) ( SBAR ( WHNP-1 ( WDT which ) ) ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBZ advertises ) ( PP-CLR ( IN for ) ( NP ( NP ( NN everything ) ) ( PP ( IN from ) ( S-NOM ( VP ( VBG balancing ) ( NP ( DT the ) ( NN family ) ( NN checkbook ) ) ) ) ) ( PP ( TO to ) ( S-NOM ( VP ( VBG practicing ) ( NP ( NN karaoke ) ( NN bar ) ( NN singing ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Fujitsu Ltd. is lavishing the most expensive promotion campaign in its history including a 100,000-guest bash at Tokyo Dome for its sophisticated sound\/graphics FM Towns machine which it advertises for everything from balancing the family checkbook to practicing karaoke bar singing


( S ( NP-SBJ-1 ( NP ( JJ Many ) ) ( PP ( IN of ) ( NP ( DT the ) ( NNS companies ) ) ) ) ( VP ( VBP are ) ( VP ( VP ( ADVP ( RB even ) ) ( VBG dropping ) ( NP ( PRP$ their ) ( JJ traditional ) ( NN independence ) ) ) ( CC and ) ( VP ( VBG trying ) ( S ( VP ( TO to ) ( VP ( VB band ) ( ADVP-CLR ( RB together ) ) ( S-PRP ( VP ( TO to ) ( VP ( VB create ) ( NP ( NP ( DT some ) ( NN sort ) ) ( PP ( IN of ) ( NP ( NN standard ) ) ) ) ) ) ) ) ) ) ) ) ) )

Many of the companies are even dropping their traditional independence and trying to band together to create some sort of standard


( S ( ADVP-TMP ( NP ( CD Two ) ( NNS years ) ) ( RB ago ) ) ( NP-SBJ-1 ( NP ( JJS most ) ) ( PP ( IN of ) ( NP ( DT the ) ( JJR smaller ) ( NNS makers ) ) ) ) ( VP ( VBD joined ) ( PP-LOC ( IN under ) ( NP ( DT the ) ( NNP Microsoft ) ( NNP Corp. ) ( NN umbrella ) ) ) ( S-PRP ( VP ( TO to ) ( VP ( VB adopt ) ( NP ( NP ( DT a ) ( NN version ) ) ( PP ( IN of ) ( NP ( DT the ) ( JJ American ) ( NNP IBM ) ( NNP AT ) ( NN standard ) ) ) ) ) ) ) ) )

Two years ago most of the smaller makers joined under the Microsoft Corp. umbrella to adopt a version of the American IBM AT standard


( S ( S ( NP-SBJ ( DT That ) ) ( VP ( VBZ has ) ( RB n't ) ( VP ( VBD generated ) ( NP ( JJ much ) ( NNS sales ) ) ) ) ) ( CC but ) ( S ( NP-TMP ( DT this ) ( NN summer ) ) ( NP-SBJ ( NNP Microsoft ) ) ( VP ( VBD rallied ) ( S ( NP-SBJ ( DT all ) ( DT the ) ( JJ major ) ( NNP NEC ) ( NNS competitors ) ) ( VP ( TO to ) ( VP ( VB make ) ( S ( NP-SBJ ( PRP$ their ) ( JJ new ) ( NNS machines ) ) ( ADJP-PRD ( JJ compatible ) ( PP ( IN with ) ( NP ( DT the ) ( NNP IBM ) ( NNP OS\/2 ) ( NN standard ) ) ) ) ) ) ) ) ) ) )

That has n't generated much sales but this summer Microsoft rallied all the major NEC competitors to make their new machines compatible with the IBM OS\/2 standard


( S ( NP-SBJ ( DT A ) ( JJ healthy ) ( JJ coherent ) ( JJ Japanese ) ( NN market ) ) ( VP ( MD could ) ( VP ( ADVP ( RB also ) ) ( VB make ) ( S ( NP-SBJ ( NP ( PRP it ) ) ) ( ADJP-PRD ( RB far ) ( RBR easier ) ) ( SBAR-2 ( IN for ) ( S ( NP-SBJ ( JJ Japanese ) ( NNS companies ) ) ( VP ( TO to ) ( VP ( VB sell ) ( ADVP-LOC ( ADVP ( RB overseas ) ) ( SBAR ( WHADVP-1 ( WRB where ) ) ( S ( NP-SBJ ( PRP$ their ) ( NN share ) ) ( VP ( VBZ is ) ( ADVP ( RB still ) ) ( ADJP-PRD ( JJ minimal ) ) ) ) ) ) ) ) ) ) ) ) ) )

A healthy coherent Japanese market could also make it far easier for Japanese companies to sell overseas where their share is still minimal


( S ( CC But ) ( NP-SBJ ( PRP it ) ) ( VP ( MD could ) ( ADVP ( RB also ) ) ( VP ( VB help ) ( NP ( NP ( JJ American ) ( NNS companies ) ) ( SBAR ( WHNP-1 ( WDT which ) ) ( S ( ADVP ( RB also ) ) ( VP ( VBP are ) ( VP ( VBG starting ) ( S ( VP ( TO to ) ( VP ( VB try ) ( S ( VP ( TO to ) ( VP ( VB open ) ( NP ( DT the ) ( NN market ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

But it could also help American companies which also are starting to try to open the market


( S ( PP ( IN As ) ( PP ( IN with ) ( NP ( JJ many ) ( JJ other ) ( NNS goods ) ) ) ) ( NP-SBJ ( NP ( DT the ) ( JJ American ) ( NN share ) ) ( PP ( IN of ) ( NP ( NP ( NNP Japan ) ( POS 's ) ) ( NN PC ) ( NN market ) ) ) ) ( VP ( VBZ is ) ( PP-PRD ( RB far ) ( IN below ) ( NP ( NP ( DT that ) ) ( PP ( IN in ) ( NP ( NP ( DT the ) ( NN rest ) ) ( PP ( IN of ) ( NP ( DT the ) ( NN world ) ) ) ) ) ) ) ) )

As with many other goods the American share of Japan 's PC market is far below that in the rest of the world


( S ( NP-SBJ ( NNP U.S. ) ( NNS makers ) ) ( VP ( VBP have ) ( NP ( ADJP ( QP ( IN under ) ( CD 10 ) ) ( NN % ) ) ( NN share ) ) ( PP ( VBN compared ) ( PP ( IN with ) ( NP ( NP ( NP ( PDT half ) ( DT the ) ( NN market ) ) ( PP-LOC ( IN in ) ( NP ( NNP Europe ) ) ) ) ( CC and ) ( NP ( NP ( CD 80 ) ( NN % ) ) ( PP-LOC ( IN at ) ( NP ( NN home ) ) ) ) ) ) ) ) )

U.S. makers have under 10 % share compared with half the market in Europe and 80 % at home


( S ( SBAR-ADV ( IN Though ) ( S ( NP-SBJ ( DT no ) ( JJ formal ) ( NN trade ) ( NNS barriers ) ) ( VP ( VBP exist ) ) ) ) ( NP-SBJ ( DT the ) ( JJ Japanese ) ( NN computer ) ( NN industry ) ) ( VP ( VBZ is ) ( ADJP-PRD ( JJ difficult ) ( SBAR ( IN for ) ( S ( NP-SBJ ( NNS outsiders ) ) ( VP ( TO to ) ( VP ( VB enter ) ) ) ) ) ) ) )

Though no formal trade barriers exist the Japanese computer industry is difficult for outsiders to enter


( SINV ( S-TPC-2 ( SBAR-ADV ( IN If ) ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBD were ) ( NP-PRD ( DT an ) ( JJ open ) ( NN market ) ) ) ) ) ( NP-SBJ ( PRP we ) ) ( VP ( MD would ) ( VP ( VB have ) ( VP ( VBN been ) ( ADVP-LOC-PRD ( RB in ) ) ( PP-TMP ( IN in ) ( NP ( CD 1983 ) ( CC or ) ( CD 1984 ) ) ) ) ) ) ) ( VP ( VBZ says ) ) ( NP-SBJ ( NP ( NNP Eckhard ) ( NNP Pfeiffer ) ) ( SBAR ( WHNP-1 ( WP who ) ) ( S ( VP ( VBZ heads ) ( NP ( NP ( NNP Compaq ) ( NNP Computer ) ( NNP Corp. ) ( POS 's ) ) ( JJ European ) ( CC and ) ( JJ international ) ( NNS operations ) ) ) ) ) ) )

If it were an open market we would have been in in 1983 or 1984 says Eckhard Pfeiffer who heads Compaq Computer Corp. 's European and international operations


( S ( NP-SBJ ( PRP$ His ) ( NN company ) ) ( PP ( IN without ) ( NP ( DT any ) ( JJ major ) ( NN effort ) ) ) ( VP ( VBZ sells ) ( NP ( NP ( JJR more ) ( NNS machines ) ) ( PP-LOC ( IN in ) ( NP ( NNP China ) ) ) ( PP ( IN than ) ( PP-LOC ( IN in ) ( NP ( NNP Japan ) ) ) ) ) ) )

His company without any major effort sells more machines in China than in Japan


( S ( SBAR-ADV ( IN Although ) ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBZ has ) ( VP ( VBN opened ) ( NP ( DT a ) ( NNP New ) ( NNP Zealand ) ( NN subsidiary ) ) ) ) ) ) ( NP-SBJ ( PRP it ) ) ( VP ( VBZ is ) ( ADVP ( RB still ) ) ( VP ( ADVP ( RB only ) ) ( VBG studying ) ( NP ( NP ( NNP Japan ) ) ( NP ( NP ( DT the ) ( JJ only ) ( NN nation ) ) ( SBAR ( WHNP-1 ( DT that ) ) ( S ( VP ( VBZ has ) ( RB n't ) ( VP ( VBN adopted ) ( NP ( JJ IBM-oriented ) ( NNS specifications ) ) ) ) ) ) ) ) ) ) )

Although it has opened a New Zealand subsidiary it is still only studying Japan the only nation that has n't adopted IBM-oriented specifications


( S ( CC And ) ( SBAR-PRP ( IN because ) ( S ( NP-SBJ ( NP ( JJ general ) ( JJ retail ) ( NNS centers ) ) ( PP ( JJ such ) ( IN as ) ( NP ( NNP ComputerLand ) ) ) ) ( VP ( VBP have ) ( NP ( JJ little ) ( NN presence ) ) ( PP-LOC ( IN in ) ( NP ( NNP Japan ) ) ) ) ) ) ( NP-SBJ ( NNS sales ) ) ( VP ( VBP remain ) ( PP-LOC-CLR ( IN in ) ( NP ( NP ( DT the ) ( NN iron ) ( NN grip ) ) ( PP ( IN of ) ( NP ( VBN established ) ( NN computer ) ( NNS makers ) ) ) ) ) ) )

And because general retail centers such as ComputerLand have little presence in Japan sales remain in the iron grip of established computer makers


( S ( CC But ) ( NP-SBJ-1 ( DT the ) ( NNS Americans ) ) ( VP ( VBP are ) ( ADVP ( RB also ) ) ( S-PRD ( VP ( TO to ) ( VP ( VB blame ) ) ) ) ) )

But the Americans are also to blame


( S ( NP-SBJ ( PRP They ) ) ( ADVP-TMP ( RB long ) ) ( VP ( VBD made ) ( NP ( JJ little ) ( NN effort ) ) ( ADVP-LOC ( RB here ) ) ) )

They long made little effort here


( S ( S ( NP-SBJ-1 ( NNP IBM ) ) ( PRN ( SBAR-ADV ( IN though ) ( S ( ADVP-TMP ( RB long ) ) ( NP-PRD ( DT a ) ( NN leader ) ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( JJ Japanese ) ( NN mainframe ) ( NN business ) ) ) ) ) ) ( VP ( VBD did ) ( RB n't ) ( VP ( VB introduce ) ( NP ( PRP$ its ) ( JJ first ) ( NN PC ) ) ( PP-LOC ( IN in ) ( NP ( NNP Japan ) ) ) ( PP-TMP ( IN until ) ( SBAR ( NP-ADV ( CD five ) ( NNS years ) ) ( IN after ) ( S ( NP-SBJ ( NNP NEC ) ) ( VP ( VBD did ) ) ) ) ) ) ) ) ( CC and ) ( S ( NP-SBJ ( DT that ) ) ( VP ( VBD was ) ( RB n't ) ( ADJP-PRD ( JJ compatible ) ( PP ( RB even ) ( IN with ) ( NP ( DT the ) ( NNP U.S. ) ( NNP IBM ) ( NN standard ) ) ) ) ) ) )

IBM though long a leader in the Japanese mainframe business did n't introduce its first PC in Japan until five years after NEC did and that was n't compatible even with the U.S. IBM standard


( S ( NP-SBJ ( NNP Apple ) ) ( VP ( VBD did ) ( RB n't ) ( VP ( VB introduce ) ( NP ( NP ( DT a ) ( FW kanji ) ( NN machine ) ) ( PRN ( NP ( NP ( NN one ) ) ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( VP ( VBZ handles ) ( NP ( NP ( DT the ) ( JJ Chinese ) ( NNS characters ) ) ( PP ( IN of ) ( NP ( VBN written ) ( NNP Japanese ) ) ) ) ) ) ) ) ) ) ( PP-TMP ( IN until ) ( PP ( NP-ADV ( CD three ) ( NNS years ) ) ( IN after ) ( S-NOM ( VP ( VBG entering ) ( NP ( DT the ) ( NN market ) ) ) ) ) ) ) ) )

Apple did n't introduce a kanji machine one that handles the Chinese characters of written Japanese until three years after entering the market


( S ( NP-SBJ ( NNS Critics ) ) ( ADVP ( RB also ) ) ( VP ( VBP say ) ( SBAR ( S ( NP-SBJ ( JJ American ) ( NNS companies ) ) ( VP ( VBP charge ) ( NP ( RB too ) ( JJ much ) ) ) ) ) ) )

Critics also say American companies charge too much


( S ( NP-SBJ ( NP ( NNP Japan ) ( POS 's ) ) ( NNP FTC ) ) ( VP ( VBZ says ) ( SBAR ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBZ is ) ( VP ( VBG investigating ) ( NP-1 ( NNP Apple ) ) ( PP-CLR ( IN for ) ( S-NOM ( ADVP ( RB allegedly ) ) ( VP ( VBG discouraging ) ( NP-2 ( NNS retailers ) ) ( PP ( IN from ) ( S-NOM ( VP ( VBG discounting ) ) ) ) ) ) ) ) ) ) ) ) )

Japan 's FTC says it is investigating Apple for allegedly discouraging retailers from discounting


( S ( CC But ) ( NP-SBJ ( DT the ) ( NNP U.S. ) ( NNS companies ) ) ( VP ( VBP are ) ( VP ( VBG redoubling ) ( NP ( PRP$ their ) ( NNS efforts ) ) ) ) )

But the U.S. companies are redoubling their efforts


( S ( NP-SBJ-1 ( NNP Apple ) ) ( ADVP-TMP ( RB recently ) ) ( VP ( VBD hired ) ( NP ( NP ( PRP$ its ) ( JJ first ) ( JJ Japanese ) ( NN president ) ) ) ( S-ADV ( VP ( VBG luring ) ( PRT ( RP away ) ) ( NP ( NP ( NP ( DT an ) ( NN official ) ) ( PP ( IN of ) ( NP ( NP ( NNP Toshiba ) ( POS 's ) ) ( JJ European ) ( NNS operations ) ) ) ) ) ) ) ( PP-2 ( RB as ) ( RB well ) ( IN as ) ( NP ( DT a ) ( JJ whole ) ( JJ Japanese ) ( JJ top-management ) ( NN team ) ) ) ) )

Apple recently hired its first Japanese president luring away an official of Toshiba 's European operations as well as a whole Japanese top-management team


( S ( NP-TMP ( RBR Earlier ) ( DT this ) ( NN year ) ) ( NP-SBJ ( PRP it ) ) ( VP ( VBD introduced ) ( NP ( NP ( DT a ) ( ADJP ( ADVP ( RB much ) ( RBR more ) ) ( JJ powerful ) ) ( FW kanji ) ( NN operating ) ( NN system ) ) ( CC and ) ( NP ( DT a ) ( FW kanji ) ( NN laser ) ( NN printer ) ) ) ) )

Earlier this year it introduced a much more powerful kanji operating system and a kanji laser printer


( S ( NP-SBJ-3 ( NNP IBM ) ) ( NP-TMP ( RB just ) ( JJ last ) ( NN year ) ) ( VP ( VBD started ) ( S ( VP ( VBG selling ) ( NP ( NP ( PRP$ its ) ( JJ first ) ( NN machine ) ) ( SBAR ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( VP ( MD could ) ( VP ( VB run ) ( PP-MNR ( IN in ) ( NP ( DT both ) ( NNP Japanese ) ( CC and ) ( NNP English ) ) ) ) ) ) ) ( CC and ) ( SBAR ( WHNP-2 ( WDT that ) ) ( S ( VP ( ADVP-MNR ( RB substantially ) ) ( VBZ enhances ) ( NP ( NP ( NN compatibility ) ) ( PP ( IN with ) ( NP ( PRP$ its ) ( JJ American ) ( NNS products ) ) ) ) ) ) ) ) ) ) ) ) )

IBM just last year started selling its first machine that could run in both Japanese and English and that substantially enhances compatibility with its American products


( SINV ( S-TPC-3 ( NP-SBJ ( NP ( PRP It ) ) ) ( VP ( MD may ) ( VP ( VB take ) ( NP ( CD five ) ( NNS years ) ) ( S-2 ( VP ( TO to ) ( VP ( VB break ) ( PRT ( JJ even ) ) ( PP-LOC ( IN in ) ( NP ( NNP Japan ) ) ) ) ) ) ) ) ) ( VP ( VBZ says ) ) ( NP-SBJ ( NP ( NNP John ) ( NNP A. ) ( NNP Siniscal ) ) ( SBAR ( WHNP-1 ( WP who ) ) ( S ( VP ( VBZ runs ) ( NP ( DT the ) ( JJ Asia-Pacific ) ( NN office ) ) ( PP ( IN for ) ( NP ( NP ( NNP McCormack ) ( CC & ) ( NNP Dodge ) ) ( NP ( DT a ) ( NNP U.S. ) ( NN software ) ( NN company ) ) ) ) ) ) ) ) )

It may take five years to break even in Japan says John A. Siniscal who runs the Asia-Pacific office for McCormack & Dodge a U.S. software company


( S ( CC But ) ( NP-SBJ ( PRP it ) ) ( VP ( VBZ 's ) ( NP-PRD ( DT an ) ( JJ enormous ) ( NN business ) ( NN opportunity ) ) ) )

But it 's an enormous business opportunity


( S ( NP-SBJ ( DT The ) ( NNP New ) ( NNP York ) ( NNP Times ) ( NNP Co. ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBD reached ) ( NP ( NP ( DT a ) ( NN settlement ) ) ( PP ( IN with ) ( NP ( NP ( JJ independent ) ( NN home ) ( NN delivery ) ( NNS dealers ) ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( JJ metropolitan ) ( NNP New ) ( NNP York ) ( NN area ) ) ) ) ) ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( VP ( MD will ) ( VP ( VB free ) ( S ( NP-SBJ ( DT the ) ( NN newspaper ) ) ( VP ( TO to ) ( VP ( VB expand ) ( NP ( NN home ) ( NN delivery ) ( NN circulation ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

The New York Times Co. said it reached a settlement with independent home delivery dealers in the metropolitan New York area that will free the newspaper to expand home delivery circulation


( S ( NP-SBJ ( DT The ) ( NN settlement ) ) ( VP ( VBD stemmed ) ( PP-CLR ( IN from ) ( NP ( NP ( DT a ) ( NN lawsuit ) ) ( SBAR ( S ( NP-SBJ ( DT the ) ( NNS dealers ) ) ( VP ( VBD filed ) ( PP-TMP ( IN in ) ( NP ( CD 1982 ) ) ) ( SBAR-TMP ( WHADVP-2 ( WRB when ) ) ( S ( NP-SBJ ( DT the ) ( NNP Times ) ) ( VP ( VBD began ) ( NP ( PRP$ its ) ( JJ own ) ( VBG competing ) ( JJ direct ) ( NN delivery ) ( NN service ) ) ) ) ) ) ) ) ) ) ) )

The settlement stemmed from a lawsuit the dealers filed in 1982 when the Times began its own competing direct delivery service


( S ( S-TPC-1 ( NP-SBJ ( DT The ) ( NN pact ) ) ( VP ( VBZ calls ) ( SBAR ( IN for ) ( S ( NP-SBJ ( DT the ) ( NNP Times ) ) ( VP ( TO to ) ( VP ( VB pay ) ( NP ( NNS dealers ) ) ( NP ( NP ( NP ( QP ( CD 3.6 ) ( CD million ) ) ) ( PP ( IN over ) ( NP ( CD six ) ( NNS years ) ) ) ) ( CONJP ( RB as ) ( RB well ) ( IN as ) ) ( NP ( NP ( JJ other ) ( NNS payments ) ) ( PP ( IN in ) ( NP ( NP ( DT the ) ( NN form ) ) ( PP ( IN of ) ( NP ( NP ( NNS subsidies ) ) ( PP ( IN over ) ( NP ( CD three ) ( NNS years ) ) ) ) ) ) ) ( VP ( VBN based ) ( PP-CLR ( PP ( IN on ) ( NP ( NP ( DT the ) ( NN number ) ) ( PP ( IN of ) ( NP ( NP ( JJ new ) ( NNS customers ) ) ( VP ( VBN started ) ( PP-LGS ( IN by ) ( NP ( DT the ) ( NNS dealers ) ) ) ) ) ) ) ) ( CC and ) ( PP ( IN on ) ( NP ( VBG pricing ) ( NNS structures ) ) ) ) ) ) ) ) ) ) ) ) ) ( NP-SBJ ( DT the ) ( NNP Times ) ) ( VP ( VBD said ) ) )

The pact calls for the Times to pay dealers 3.6 million over six years as well as other payments in the form of subsidies over three years based on the number of new customers started by the dealers and on pricing structures the Times said


( S ( NP-SBJ-1 ( NP ( DT The ) ( NN amount ) ) ( PP ( IN of ) ( NP ( DT the ) ( NN settlement ) ) ) ) ( VP ( MD will ) ( VP ( VB be ) ( VP ( VBN taken ) ( PP-CLR ( IN as ) ( NP ( NP ( DT a ) ( NN charge ) ) ( PP ( IN against ) ( NP ( NNS earnings ) ) ) ) ) ( PP-TMP ( IN in ) ( NP ( DT the ) ( JJ fourth ) ( NN quarter ) ) ) ) ) ) )

The amount of the settlement will be taken as a charge against earnings in the fourth quarter


( S ( NP-SBJ ( NP ( DT The ) ( NN settlement ) ) ( SBAR ( WHNP-1 ( WDT which ) ) ( S ( VP ( VBZ involves ) ( NP ( NP ( RBS most ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( CD 300 ) ( JJ independent ) ( NN newspaper ) ( NNS dealers ) ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( NNP New ) ( NNP York ) ( NN area ) ) ) ) ) ) ) ) ) ) ( VP ( MD will ) ( VP ( VB allow ) ( S ( NP-SBJ ( DT the ) ( NNP Times ) ) ( VP ( TO to ) ( VP ( ADVP-MNR ( RB freely ) ) ( VB operate ) ( NP ( PRP$ its ) ( JJ own ) ( JJ direct ) ( NN home ) ( NN delivery ) ( NN system ) ) ) ) ) ) ) )

The settlement which involves most of the 300 independent newspaper dealers in the New York area will allow the Times to freely operate its own direct home delivery system


( S ( NP-SBJ ( NN Home ) ( NN delivery ) ) ( VP ( VBZ is ) ( NP-PRD ( NP ( DT the ) ( ADJP ( JJS fastest ) ( VBG growing ) ) ( NN segment ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( NNP Times ) ( POS 's ) ) ( QP ( CD 1.1 ) ( CD million ) ) ( JJ daily ) ( NN circulation ) ) ) ) ) )

Home delivery is the fastest growing segment of the Times 's 1.1 million daily circulation


( S ( ADVP-TMP ( RB Currently ) ) ( NP-SBJ ( NP ( QP ( RP about ) ( CD 60 ) ) ( NN % ) ) ( PP ( IN of ) ( NP ( NP ( NN home ) ( NN delivery ) ( NNS subscribers ) ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( NNP New ) ( NNP York ) ( NN area ) ) ) ) ) ) ( VP ( VBP receive ) ( NP ( DT the ) ( NN paper ) ) ( ADVP ( RB directly ) ) ( PP-CLR ( IN from ) ( NP ( DT the ) ( NNP Times ) ) ) ) )

Currently about 60 % of home delivery subscribers in the New York area receive the paper directly from the Times


( S ( NP-SBJ ( NP ( NNP Revco ) ( NNP D.S. ) ( NNP Inc. ) ) ( NP ( NP ( DT the ) ( NN drugstore ) ( NN chain ) ) ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( VP ( VBD filed ) ( PP-CLR ( IN for ) ( NP ( NN bankruptcy-court ) ( NN protection ) ) ) ( NP-TMP ( JJ last ) ( NN year ) ) ) ) ) ) ) ( VP ( VBD received ) ( NP ( DT a ) ( ADJP ( QP ( CD 925 ) ( CD million ) ) ) ( NN offer ) ) ( PP-CLR ( IN from ) ( NP ( NP ( DT a ) ( NN group ) ) ( VP ( VBD led ) ( PP ( IN by ) ( NP-LGS ( NNP Texas ) ( NN billionaire ) ( NNP Robert ) ( NNP Bass ) ) ) ) ) ) ) )

Revco D.S. Inc. the drugstore chain that filed for bankruptcy-court protection last year received a 925 million offer from a group led by Texas billionaire Robert Bass


( S ( NP-SBJ-1 ( NNP Revco ) ) ( VP ( VBD reacted ) ( ADVP-MNR ( RB cautiously ) ) ( S-ADV ( VP ( VBG saying ) ( SBAR ( S ( NP-SBJ ( DT the ) ( NN plan ) ) ( VP ( MD would ) ( VP ( VB add ) ( NP ( NP ( QP ( CD 260 ) ( CD million ) ) ) ( PP ( IN of ) ( NP ( JJ new ) ( NN debt ) ) ) ) ( PP-CLR ( TO to ) ( NP ( DT the ) ( ADJP ( RB highly ) ( VBN leveraged ) ) ( NN company ) ) ) ) ) ) ) ) ) ) )

Revco reacted cautiously saying the plan would add 260 million of new debt to the highly leveraged company


( S ( NP-SBJ ( NP ( PRP It ) ) ) ( VP ( VBD was ) ( NP-PRD ( NP ( NP ( NNP Revco ) ( POS 's ) ) ( JJ huge ) ( NN debt ) ) ( PP ( IN from ) ( NP ( NP ( PRP$ its ) ( ADJP ( QP ( CD 1.3 ) ( CD billion ) ) ) ( VBN leveraged ) ( NN buy-out ) ) ( PP-TMP ( IN in ) ( NP ( CD 1986 ) ) ) ) ) ) ( SBAR-1 ( WHNP-2 ( IN that ) ) ( S ( VP ( VBN forced ) ( S ( NP-SBJ ( PRP it ) ) ( VP ( TO to ) ( VP ( VB seek ) ( NP ( NN protection ) ) ( PP-LOC ( IN under ) ( NP ( NP ( NNP Chapter ) ( CD 11 ) ) ( PP ( IN of ) ( NP ( DT the ) ( JJ federal ) ( NNP Bankruptcy ) ( NNP Code ) ) ) ) ) ) ) ) ) ) ) ) )

It was Revco 's huge debt from its 1.3 billion leveraged buy-out in 1986 that forced it to seek protection under Chapter 11 of the federal Bankruptcy Code


( S ( NP-SBJ ( NNP Revco ) ) ( VP ( VBZ insists ) ( SBAR ( IN that ) ( S ( NP-SBJ ( DT the ) ( NN proposal ) ) ( VP ( VBZ is ) ( ADVP ( RB simply ) ) ( NP-PRD ( NP ( DT an ) ( NN expression ) ) ( PP ( IN of ) ( NP ( NN interest ) ) ) ) ( SBAR-PRP ( IN because ) ( S ( PP-LOC ( IN under ) ( NP ( NNP Chapter ) ( CD 11 ) ) ) ( NP-SBJ ( NNP Revco ) ) ( VP ( VBZ has ) ( NP ( NN exclusivity ) ( NNS rights ) ) ( PP-TMP ( IN until ) ( NP ( NNP Feb. ) ( CD 28 ) ) ) ) ) ) ) ) ) ) )

Revco insists that the proposal is simply an expression of interest because under Chapter 11 Revco has exclusivity rights until Feb. 28


( S ( NP-SBJ ( DT Those ) ( NNS rights ) ) ( VP ( VBP prevent ) ( NP-1 ( NP ( NN anyone ) ) ( ADJP ( JJ other ) ( PP ( IN than ) ( NP ( NNP Revco ) ) ) ) ) ( PP-CLR ( IN from ) ( S-NOM ( VP ( VBG proposing ) ( NP ( DT a ) ( NN reorganization ) ( NN plan ) ) ) ) ) ) )

Those rights prevent anyone other than Revco from proposing a reorganization plan


( S ( ADVP ( RB Also ) ) ( PP-LOC ( IN under ) ( NP ( NNP Chapter ) ( CD 11 ) ) ) ( NP-SBJ ( DT a ) ( NN reorganization ) ( NN plan ) ) ( VP ( VBZ is ) ( ADJP-PRD ( JJ subject ) ( PP ( TO to ) ( NP ( NP ( NN approval ) ) ( PP ( IN by ) ( NP ( NP ( NNS bondholders ) ) ( NP ( NNS banks ) ) ( CC and ) ( NP ( JJ other ) ( NNS creditors ) ) ) ) ) ) ) ) )

Also under Chapter 11 a reorganization plan is subject to approval by bondholders banks and other creditors


( S ( NP-SBJ ( NP ( NP ( DT A ) ( JJ financial ) ( NN adviser ) ) ( PP ( IN for ) ( NP ( NNP Revco ) ( NNS bondholders ) ) ) ) ( NP ( NNP David ) ( NNP Schulte ) ) ( PP ( IN of ) ( NP ( NNP Chilmark ) ( NNP Partners ) ) ) ) ( VP ( VBD had ) ( NP ( NP ( VBN mixed ) ( NNS reactions ) ) ( PP ( TO to ) ( NP ( DT the ) ( NN offer ) ) ) ) ) )

A financial adviser for Revco bondholders David Schulte of Chilmark Partners had mixed reactions to the offer


( S ( NP-SBJ ( PRP He ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( PRP he ) ) ( VP ( VBD feared ) ( SBAR ( SBAR ( S ( NP-SBJ ( DT a ) ( NNP Revco ) ( NN reorganization ) ) ( VP ( MD might ) ( VP ( VB force ) ( S ( NP-SBJ ( NNS bondholders ) ) ( VP ( TO to ) ( VP ( VB accept ) ( NP ( DT a ) ( JJ cheap ) ( NN deal ) ) ) ) ) ) ) ) ) ( CC and ) ( SBAR ( IN that ) ( S ( NP-SBJ ( NP ( DT the ) ( NNP Bass ) ( NN group ) ( POS 's ) ) ( NN offer ) ) ( VP ( MD would ) ( VP ( VB give ) ( NP ( PRP them ) ) ( NP ( JJR more ) ( NN money ) ) ) ) ) ) ) ) ) ) ) )

He said he feared a Revco reorganization might force bondholders to accept a cheap deal and that the Bass group 's offer would give them more money


( S ( ADVP ( RB However ) ) ( NP-SBJ-1 ( DT the ) ( NN group ) ) ( VP ( VBZ is ) ( VP ( VBG offering ) ( S ( VP ( TO to ) ( VP ( VB pay ) ( PRT ( RP off ) ) ( NP ( NNS bondholders ) ) ( PP-MNR ( IN in ) ( NP ( NP ( NP ( NN cash ) ( RB only ) ) ( PRN ( NP ( QP ( CD 260.5 ) ( CD million ) ) ) ) ) ( CC and ) ( NP ( DT no ) ( NN equity ) ) ) ) ) ) ) ) ) )

However the group is offering to pay off bondholders in cash only 260.5 million and no equity


( S ( S ( NP-SBJ ( DT The ) ( NNP Revco ) ( NNS bonds ) ) ( VP ( VBP are ) ( NP-PRD ( JJ high-yield ) ( JJ high-risk ) ( NN junk ) ( NNS bonds ) ) ) ) ( S ( S-TPC-1 ( NP-SBJ ( NNS holders ) ) ( VP ( VBP have ) ( NP ( NP ( QP ( CD 750 ) ( CD million ) ) ) ( PP ( IN in ) ( NP ( NP ( NNS claims ) ) ( PP ( IN against ) ( NP ( NNP Revco ) ) ) ) ) ) ) ) ( NP-SBJ ( NNP Mr. ) ( NNP Schulte ) ) ( VP ( VBD said ) ) ) )

The Revco bonds are high-yield high-risk junk bonds holders have 750 million in claims against Revco Mr. Schulte said


( S ( NP-SBJ ( NNP Revco ) ) ( VP ( VP ( VBD received ) ( NP ( DT the ) ( NN offer ) ) ( NP-TMP ( NNP Oct. ) ( CD 20 ) ) ) ( CC but ) ( VP ( VBD issued ) ( NP ( DT a ) ( NN response ) ) ( NP-TMP ( NN yesterday ) ) ( SBAR-TMP ( RB only ) ( IN after ) ( S ( NP-SBJ-1 ( NP ( DT a ) ( NN copy ) ) ( PP ( IN of ) ( NP ( DT the ) ( NN proposal ) ) ) ) ( VP ( VBD was ) ( VP ( VBN made ) ( S ( ADJP-PRD ( NN public ) ) ) ( PP ( IN by ) ( NP-LGS ( NNS bondholders ) ) ) ) ) ) ) ) ) )

Revco received the offer Oct. 20 but issued a response yesterday only after a copy of the proposal was made public by bondholders


( S ( NP-SBJ ( NP ( NNP Acadia ) ( NNP Partners ) ( NNP Limited ) ( NNP Partnership ) ) ( NP ( NP ( DT a ) ( NAC-LOC ( NNP Fort ) ( NNP Worth ) ( NNP Texas ) ) ( NN partnership ) ) ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( VP ( VBZ includes ) ( NP ( DT the ) ( NNP Robert ) ( NNP M. ) ( NNP Bass ) ( NNP Group ) ) ) ) ) ) ) ( VP ( VBD made ) ( NP ( DT the ) ( NN proposal ) ) ) )

Acadia Partners Limited Partnership a Fort Worth Texas partnership that includes the Robert M. Bass Group made the proposal


( S ( NP-SBJ-1 ( NNP Mr. ) ( NNP Bass ) ) ( VP ( VBZ is ) ( VP ( VBN based ) ( PP-LOC-CLR ( IN in ) ( NP ( NNP Fort ) ( NNP Worth ) ) ) ) ) )

Mr. Bass is based in Fort Worth


( S ( NP-SBJ ( NNS Analysts ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( NP ( DT the ) ( NN nation ) ( POS 's ) ) ( JJ second-largest ) ( NN drugstore ) ( NN chain ) ) ( VP ( VBD was ) ( NP-PRD ( DT a ) ( JJ valuable ) ( NN company ) ) ( PP ( IN despite ) ( NP ( PRP$ its ) ( JJ financial ) ( NNS woes ) ) ) ) ) ) ) )

Analysts said the nation 's second-largest drugstore chain was a valuable company despite its financial woes


( S-1 ( NP-SBJ ( PRP$ Its ) ( NN problem ) ) ( PRN ( S ( NP-SBJ ( PRP they ) ) ( VP ( VBP say ) ) ) ) ( VP ( VBZ is ) ( SBAR-PRD ( DT that ) ( S ( S ( NP-SBJ ( NN management ) ) ( VP ( VBD paid ) ( NP ( RB too ) ( JJ much ) ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( VBN leveraged ) ( NN buy-out ) ) ) ) ) ( CC and ) ( S ( NP-SBJ ( DT the ) ( JJ current ) ( ADJP ( QP ( CD 515 ) ( CD million ) ) ) ( NN debt ) ( NN load ) ) ( VP ( VBZ is ) ( VP ( VBG keeping ) ( S ( NP-SBJ ( NNP Revco ) ) ( PP-PRD ( IN in ) ( NP ( DT the ) ( NN red ) ) ) ) ) ) ) ) ) ) )

Its problem they say is that management paid too much in the leveraged buy-out and the current 515 million debt load is keeping Revco in the red