( S ( NP-SBJ ( PRP He ) ) ( VP ( VBD said ) ( SBAR ( SBAR ( S ( NP-SBJ ( EX there ) ) ( VP ( VBD was ) ( RB n't ) ( NP-PRD ( NP ( DT any ) ( NN way ) ) ( SBAR ( S ( VP ( TO to ) ( VP ( VB detect ) ( NP ( DT the ) ( NN flaw ) ) ( PP-TMP ( IN at ) ( NP ( DT that ) ( NN time ) ) ) ) ) ) ) ) ) ) ) ( CC and ) ( SBAR ( IN that ) ( S ( NP-SBJ-2 ( DT the ) ( NN process ) ) ( VP ( VBZ has ) ( ADVP-TMP ( IN since ) ) ( VP ( VBN been ) ( VP ( VBN changed ) ( S-PRP ( VP ( TO to ) ( VP ( VB decrease ) ( NP ( DT the ) ( NN chance ) ( SBAR ( IN that ) ( S ( NP-SBJ ( JJ such ) ( NNS flaws ) ) ( VP ( MD would ) ( VP ( VB occur ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

He said there was n't any way to detect the flaw at that time and that the process has since been changed to decrease the chance that such flaws would occur


( S ( NP-SBJ ( DT The ) ( NNP FAA ) ) ( ADVP-TMP ( RB already ) ) ( VP ( VBZ has ) ( VP ( VBN ordered ) ( SBAR ( IN that ) ( S ( NP-SBJ-1 ( NP ( DT all ) ( CD 232 ) ( NNS disks ) ) ( VP ( VBN made ) ( PP ( IN by ) ( NP-LGS ( DT the ) ( JJ old ) ( NN process ) ) ) ) ) ( VP ( VB be ) ( VP ( VP ( VBN removed ) ( PP-CLR ( IN from ) ( NP ( DT the ) ( NNS planes ) ) ) ) ( CC and ) ( VP ( VBN subjected ) ( PP-CLR ( TO to ) ( NP ( DT an ) ( JJ ultrasonic ) ( NN test ) ) ) ( PP-LOC ( IN in ) ( NP ( DT a ) ( JJ water-submersion ) ( NN chamber ) ) ) ) ) ) ) ) ) ) )

The FAA already has ordered that all 232 disks made by the old process be removed from the planes and subjected to an ultrasonic test in a water-submersion chamber


( SINV ( S-TPC-1 ( NP-SBJ ( JJ Such ) ( NNS tests ) ) ( VP ( VBP make ) ( S ( NP-SBJ ( DT the ) ( NNP FAA ) ) ( ADJP-PRD ( JJ confident ) ( SBAR ( IN that ) ( S ( NP-SBJ ( DT a ) ( NNP Sioux ) ( JJ City-type ) ( NN accident ) ) ( VP ( MD wo ) ( RB n't ) ( VP ( VB happen ) ( ADVP-TMP ( RB again ) ) ) ) ) ) ) ) ) ) ( VP ( VBD said ) ) ( NP-SBJ ( NNP Mr. ) ( NNP Broderick ) ) )

Such tests make the FAA confident that a Sioux City-type accident wo n't happen again said Mr. Broderick


( S ( NP-SBJ ( NP ( DT A ) ( NN spokesman ) ) ( PP ( IN for ) ( NP ( NNP GE ) ) ) ) ( VP ( VBD said ) ( SBAR ( IN that ) ( S ( NP-SBJ ( DT the ) ( NN company ) ) ( VP ( VBZ has ) ( VP ( VBN been ) ( VP ( VP ( VBG working ) ( PP-CLR ( IN with ) ( NP ( DT the ) ( NNP FAA ) ) ) ( ADVP-TMP ( RB all ) ( RB along ) ) ( PP-CLR ( IN on ) ( NP ( DT this ) ( NN issue ) ) ) ) ( CC and ) ( VP ( MD will ) ( VP ( VB comply ) ( ADVP-MNR ( RB fully ) ) ( PP-CLR ( IN with ) ( NP ( DT the ) ( JJ required ) ( NNS inspections ) ) ) ) ) ) ) ) ) ) ) )

A spokesman for GE said that the company has been working with the FAA all along on this issue and will comply fully with the required inspections


( S ( CC But ) ( NP-SBJ ( PRP he ) ) ( ADVP ( RB also ) ) ( VP ( VBD pointed ) ( PRT ( RP out ) ) ( SBAR ( IN that ) ( S ( NP-SBJ ( DT the ) ( NNS recalls ) ) ( VP ( MD will ) ( VP ( VB have ) ( NP ( NP ( DT no ) ( NN impact ) ) ( PP ( IN on ) ( NP ( NP ( NNP GE ) ( POS 's ) ) ( NN engine ) ( NN production ) ) ) ) ) ) ) ) ) )

But he also pointed out that the recalls will have no impact on GE 's engine production


( S ( S-TPC-1 ( S ( NP-SBJ-11 ( DT The ) ( NNP CF6-6 ) ( NN series ) ( NNS engines ) ) ( VP ( VBP are ) ( RB n't ) ( VP ( VBG being ) ( VP ( VBN manufactured ) ( ADVP-TMP ( DT any ) ( RBR more ) ) ) ) ) ) ( S ( NP-SBJ-12 ( PRP they ) ) ( VP ( VBP are ) ( ADVP ( RB only ) ) ( VP ( VBG being ) ( VP ( VBN used ) ( PP-LOC ( IN in ) ( NP ( NP ( DT the ) ( NNP DC-10 ) ( NNP Series ) ( CD 10 ) ( NNS planes ) ) ( PP ( ADVP-TMP ( RB currently ) ) ( IN in ) ( NP ( NN service ) ) ) ) ) ) ) ) ) ) ( NP-SBJ ( PRP he ) ) ( VP ( VBD said ) ) )

The CF6-6 series engines are n't being manufactured any more they are only being used in the DC-10 Series 10 planes currently in service he said


( S ( NP-SBJ ( NNP Leaseway ) ( NNP Transportation ) ( NNP Corp. ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ-1 ( PRP it ) ) ( VP ( MD will ) ( VP ( VB restructure ) ( NP ( NP ( QP ( CD 192.5 ) ( CD million ) ) ) ( PP ( IN of ) ( NP ( JJ certain ) ( JJ subordinated ) ( NNS debentures ) ) ) ) ( S-PRP ( VP ( TO to ) ( VP ( VB reduce ) ( NP ( PRP$ its ) ( NX ( NX ( NN debt ) ( NNS obligations ) ) ( CC and ) ( NX ( NN interest ) ( NN expense ) ) ) ) ) ) ) ) ) ) ) ) )

Leaseway Transportation Corp. said it will restructure 192.5 million of certain subordinated debentures to reduce its debt obligations and interest expense


( S ( NP-SBJ-1 ( NP ( DT The ) ( ADJP ( CD 13.25 ) ( NN % ) ) ( JJ subordinated ) ( NNS debentures ) ) ( ADJP ( JJ due ) ( NP-TMP ( CD 2002 ) ) ) ) ( VP ( VBD were ) ( VP ( VBN issued ) ( PP-TMP ( IN in ) ( NP ( NNP August ) ( CD 1987 ) ) ) ( PP-CLR ( IN as ) ( NP ( NP ( NN part ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( ADJP ( QP ( CD 690 ) ( CD million ) ) ) ( NN financing ) ) ( PP ( IN for ) ( NP ( NP ( DT a ) ( JJ leveraged ) ( NN buy-out ) ) ( PP ( IN of ) ( NP ( DT the ) ( NN company ) ) ) ) ) ) ) ) ) ) ) )

The 13.25 % subordinated debentures due 2002 were issued in August 1987 as part of the 690 million financing for a leveraged buy-out of the company


( S ( NP-SBJ ( NNP Leaseway ) ) ( VP ( VBZ provides ) ( NP ( NN transportation ) ( NNS services ) ) ( PP-CLR ( IN for ) ( NP ( NNS manufacturers ) ( NNS distributors ) ( CC and ) ( NNS retailers ) ) ) ) )

Leaseway provides transportation services for manufacturers distributors and retailers


( S ( NP-SBJ ( NNP Leaseway ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBZ has ) ( VP ( VBN begun ) ( NP ( NP ( NNS discussions ) ) ( PP ( IN with ) ( NP ( JJ certain ) ( JJ institutional ) ( NN debt ) ( NNS holders ) ) ) ( SBAR ( S ( VP ( TO to ) ( VP ( VB review ) ( NP ( NP ( DT the ) ( JJ proposed ) ( JJ private ) ( NN placement ) ( NN transaction ) ) ( SBAR ( WHNP-1 ( WDT which ) ) ( S ( VP ( MD would ) ( VP ( VB exchange ) ( NP ( DT the ) ( NN debt ) ) ( PP-CLR ( IN for ) ( NP ( JJ new ) ( JJ subordinated ) ( NX ( NX ( NN debt ) ( NNS instruments ) ) ( CC and ) ( NX ( NN equity ) ( NNS securities ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Leaseway said it has begun discussions with certain institutional debt holders to review the proposed private placement transaction which would exchange the debt for new subordinated debt instruments and equity securities


( S ( S-TPC-1 ( NP-SBJ ( JJ Specific ) ( NNS terms ) ) ( VP ( VBP are ) ( ADJP-PRD ( JJ subject ) ( PP ( TO to ) ( NP ( NP ( VB review ) ) ( CC and ) ( NP ( NP ( DT a ) ( JJ final ) ( NN agreement ) ) ( PP ( IN with ) ( NP ( NN debt ) ( NNS holders ) ) ) ) ) ) ) ) ) ( NP-SBJ ( DT the ) ( NN company ) ) ( VP ( VBD said ) ) )

Specific terms are subject to review and a final agreement with debt holders the company said


( S ( CC But ) ( NP-SBJ ( DT the ) ( JJ proposed ) ( NN transaction ) ) ( VP ( VBZ calls ) ( PP-CLR ( IN for ) ( NP ( NP ( DT an ) ( NN exchange ) ) ( PP ( IN of ) ( NP ( DT the ) ( NN debt ) ) ) ( PP ( IN for ) ( NP ( NP ( JJ new ) ( NNS debentures ) ) ( PP ( IN of ) ( NP ( NP ( JJR lower ) ( NN face ) ( NN value ) ) ( CC and ) ( NP ( JJ reduced ) ( NN cash ) ( NN interest ) ) ) ) ) ) ) ) ) )

But the proposed transaction calls for an exchange of the debt for new debentures of lower face value and reduced cash interest


( S ( ADVP ( RB Also ) ) ( NP-SBJ-2 ( NN debt ) ( NNS holders ) ) ( VP ( MD would ) ( VP ( VB be ) ( VP ( VBN offered ) ( NP ( NP ( DT an ) ( NN equity ) ( NN position ) ) ( PP-LOC ( IN in ) ( NP ( NNP Leaseway ) ) ) ( SBAR-1 ( WHNP-3 ( WDT which ) ) ( S ( PP ( IN in ) ( NP ( NN total ) ) ) ( VP ( MD would ) ( VP ( VB represent ) ( NP ( NP ( DT a ) ( VBG controlling ) ( NN interest ) ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( NN company ) ) ) ) ) ) ) ) ) ) ) ) )

Also debt holders would be offered an equity position in Leaseway which in total would represent a controlling interest in the company


( S ( NP-SBJ ( NNP Drexel ) ( NNP Burnham ) ( NNP Lambert ) ( NNP Inc. ) ) ( VP ( VBZ is ) ( NP-PRD ( DT the ) ( NN adviser ) ) ( PP ( IN on ) ( NP ( DT the ) ( NN transaction ) ) ) ) )

Drexel Burnham Lambert Inc. is the adviser on the transaction


( S ( NP-SBJ ( NN Company ) ( NNS officials ) ) ( VP ( VBD said ) ( SBAR ( SBAR ( S ( NP-SBJ ( NNP Leaseway ) ) ( VP ( VBD fulfilled ) ( NP ( NP ( NN payment ) ( NNS requirements ) ) ( PP ( IN of ) ( NP ( PRP$ its ) ( NN debt ) ( NNS obligations ) ) ) ) ( PP-TMP ( IN since ) ( NP ( DT the ) ( JJ leveraged ) ( NN buy-out ) ) ) ) ) ) ( CC but ) ( SBAR ( S ( NP-SBJ ( PRP$ our ) ( NN performance ) ) ( PP-TMP ( IN since ) ( NP ( DT the ) ( NN buy-out ) ) ) ( VP ( VBZ makes ) ( S ( NP-SBJ ( NP ( PRP it ) ) ) ( ADJP-PRD ( JJ imperative ) ) ( S-2 ( VP ( TO to ) ( VP ( VB implement ) ( NP ( NP ( NNS actions ) ) ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( VP ( MD will ) ( ADVP ( RB further ) ) ( VP ( VB improve ) ( NP ( PRP$ our ) ( NN cash ) ( NN flow ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Company officials said Leaseway fulfilled payment requirements of its debt obligations since the leveraged buy-out but our performance since the buy-out makes it imperative to implement actions that will further improve our cash flow


( S ( NP-SBJ ( DT THE ) ( NNP R.H. ) ( NNP MACY ) ( CC & ) ( NNP CO ) ( NN department-store ) ( NN chain ) ) ( VP ( VBZ is ) ( RB n't ) ( PP-PRD ( IN for ) ( NP ( NN sale ) ) ) ) )

THE R.H. MACY & CO department-store chain is n't for sale


( S ( PP-LOC ( IN In ) ( NP ( NP ( NN yesterday ) ( POS 's ) ) ( NN edition ) ) ) ( NP-SBJ-1 ( PRP it ) ) ( VP ( VBD was ) ( VP ( ADVP-MNR ( RB incorrectly ) ) ( VBN included ) ( PP ( IN with ) ( NP ( NP ( DT a ) ( NN list ) ) ( PP ( IN of ) ( NP ( NP ( NNP New ) ( NNP York ) ( NNS chains ) ) ( PP ( IN up ) ( PP ( IN for ) ( NP ( NN sale ) ) ) ) ) ) ) ) ) ) )

In yesterday 's edition it was incorrectly included with a list of New York chains up for sale


( S ( S ( NP-SBJ ( NNP TRW ) ( NNP Inc. ) ) ( VP ( VBD reported ) ( NP ( NP ( DT a ) ( ADJP ( CD 12 ) ( NN % ) ) ( NN decline ) ) ( PP ( IN in ) ( NP ( JJ third-quarter ) ( JJ net ) ( NN income ) ) ) ) ) ) ( CC but ) ( S ( NP-SBJ ( DT the ) ( NN company ) ) ( VP ( VBD said ) ( SBAR ( IN that ) ( S ( S-ADV ( VP ( VBG excluding ) ( NP ( NP ( JJ unusual ) ( NNS gains ) ) ( PP ( IN in ) ( NP ( DT both ) ( NNS quarters ) ) ) ) ) ) ( NP-SBJ ( NN operating ) ( NN profit ) ) ( VP ( VBD rose ) ( NP-EXT ( CD 16 ) ( NN % ) ) ) ) ) ) ) )

TRW Inc. reported a 12 % decline in third-quarter net income but the company said that excluding unusual gains in both quarters operating profit rose 16 %


( S ( NP-SBJ ( DT The ) ( NNS electronics ) ( JJ automotive ) ( CC and ) ( NN aerospace ) ( NN concern ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( JJ third-quarter ) ( NN net ) ) ( VP ( VBD was ) ( NP-PRD ( NP ( QP ( CD 60 ) ( CD million ) ) ) ( CC or ) ( NP ( NP ( CD 98 ) ( NNS cents ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ( ADVP ( RB down ) ( PP ( IN from ) ( NP ( NP ( QP ( CD 68 ) ( CD million ) ) ) ( CC or ) ( NP ( NP ( CD 1.11 ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ( ADVP-TMP ( NP ( DT a ) ( NN year ) ) ( RB earlier ) ) ) ) ) ) ) ) )

The electronics automotive and aerospace concern said third-quarter net was 60 million or 98 cents a share down from 68 million or 1.11 a share a year earlier


( S ( NP-SBJ-1 ( NN Share ) ( NNS earnings ) ) ( VP ( VBP are ) ( VP ( VBN reported ) ( PP-MNR ( IN on ) ( NP ( DT a ) ( ADJP ( RB fully ) ( JJ diluted ) ) ( NN basis ) ) ) ( PP ( IN by ) ( NP ( NN company ) ( NN tradition ) ) ) ) ) )

Share earnings are reported on a fully diluted basis by company tradition


( S ( NP-SBJ ( NP ( NNS Results ) ) ( PP ( IN for ) ( NP ( DT the ) ( CD 1988 ) ( NN quarter ) ) ) ) ( VP ( VBD included ) ( NP ( NP ( NP ( DT a ) ( NN gain ) ) ( PP ( IN of ) ( NP ( NP ( CD 1.05 ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ( PP ( IN from ) ( NP ( NP ( NN sale ) ) ( PP ( IN of ) ( NP ( DT the ) ( NNP Reda ) ( NNP Pump ) ( CC and ) ( NNP Oilwell ) ( NNP Cable ) ( NNS units ) ) ) ) ) ) ( VP ( ADVP ( RB partly ) ) ( VBN offset ) ( PP ( IN by ) ( NP-LGS ( NP ( DT a ) ( NN charge ) ) ( PP ( IN of ) ( NP ( NP ( CD 69 ) ( NNS cents ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ( PP ( IN for ) ( NP ( NP ( NN recall ) ) ( PP ( IN of ) ( NP ( JJ faulty ) ( NN truck ) ( NN steering ) ( NNS systems ) ) ) ) ) ) ) ) ) ) )

Results for the 1988 quarter included a gain of 1.05 a share from sale of the Reda Pump and Oilwell Cable units partly offset by a charge of 69 cents a share for recall of faulty truck steering systems


( S ( NP-SBJ ( DT The ) ( JJS latest ) ( NN quarter ) ) ( VP ( VBD included ) ( NP ( NP ( DT a ) ( NN gain ) ) ( PP ( IN of ) ( NP ( NP ( CD 11 ) ( NNS cents ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ) ( PP ( IN as ) ( NP ( NP ( DT a ) ( JJ partial ) ( NN reversal ) ) ( PP ( IN of ) ( NP ( DT the ) ( NN recall ) ( NN charge ) ) ) ) ) ( SBAR-PRP ( IN because ) ( S ( NP-SBJ ( NP ( DT the ) ( NN reserve ) ) ( VP ( VBN established ) ( NP-TMP ( JJ last ) ( NN year ) ) ) ) ( VP ( VBD exceeded ) ( NP ( DT the ) ( JJ actual ) ( NN recall ) ( NNS costs ) ) ) ) ) ) )

The latest quarter included a gain of 11 cents a share as a partial reversal of the recall charge because the reserve established last year exceeded the actual recall costs


( S ( NP-SBJ ( NP ( NNS Sales ) ) ( PP ( IN for ) ( NP ( DT the ) ( NN quarter ) ) ) ) ( VP ( VBD rose ) ( NP-EXT ( CD 8.3 ) ( NN % ) ) ( PP-DIR ( TO to ) ( NP ( QP ( CD 1.79 ) ( CD billion ) ) ) ) ( PP-DIR ( IN from ) ( NP ( QP ( CD 1.65 ) ( CD billion ) ) ) ) ( PP ( IN with ) ( S-NOM ( NP-SBJ ( DT all ) ( CD three ) ( JJ major ) ( NN product ) ( NNS groups ) ) ( VP ( VBG reporting ) ( NP ( NNS gains ) ) ) ) ) ) )

Sales for the quarter rose 8.3 % to 1.79 billion from 1.65 billion with all three major product groups reporting gains


( S ( NP-SBJ ( DT The ) ( NN company ) ) ( VP ( VBD said ) ( SBAR ( S ( S ( NP-SBJ ( NN aerospace ) ( CC and ) ( NN defense ) ( NNS sales ) ) ( VP ( VBD were ) ( ADVP-PRD ( IN up ) ( NP ( CD 2 ) ( NN % ) ) ) ( PP-TMP ( IN for ) ( NP ( DT the ) ( NN quarter ) ) ) ( PP-DIR ( TO to ) ( NP ( QP ( CD 802 ) ( CD million ) ) ) ) ) ) ( CC and ) ( S ( NP-SBJ ( NN operating ) ( NN profit ) ) ( VP ( VBD climbed ) ( NP-EXT ( CD 6 ) ( NN % ) ) ( PP-DIR ( TO to ) ( NP ( QP ( CD 61 ) ( CD million ) ) ) ) ) ) ( PP-PRP ( ADVP ( RB mainly ) ) ( IN because ) ( IN of ) ( NP ( NP ( JJ improved ) ( NN program ) ( NN performance ) ) ( PP-LOC ( IN in ) ( NP ( NN spacecraft ) ( CC and ) ( NN advanced-technology ) ( NNS contracts ) ) ) ) ) ) ) ) )

The company said aerospace and defense sales were up 2 % for the quarter to 802 million and operating profit climbed 6 % to 61 million mainly because of improved program performance in spacecraft and advanced-technology contracts


( S ( S-TPC-1 ( NP-SBJ ( JJ Automotive ) ( NNS sales ) ) ( VP ( VBD jumped ) ( NP-EXT ( CD 16 ) ( NN % ) ) ( PP-DIR ( TO to ) ( NP ( QP ( CD 791 ) ( CD million ) ) ) ) ( PP-PRP ( ADVP ( RB mainly ) ) ( IN because ) ( IN of ) ( NP ( NP ( JJR higher ) ( NNS sales ) ) ( PP ( IN of ) ( NP ( NP ( NN air ) ( NNS bags ) ) ( CC and ) ( NP ( JJ other ) ( NN passenger ) ( NN restraint ) ( NNS systems ) ) ) ) ) ) ) ) ( NP-SBJ ( NNP TRW ) ) ( VP ( VBD said ) ) )

Automotive sales jumped 16 % to 791 million mainly because of higher sales of air bags and other passenger restraint systems TRW said


( S ( NP-SBJ ( DT The ) ( NN group ) ) ( VP ( VBD had ) ( NP ( NP ( DT an ) ( NN operating ) ( NN profit ) ) ( PP ( IN of ) ( NP ( QP ( CD 65 ) ( CD million ) ) ) ) ) ( PP ( IN against ) ( NP ( NP ( DT a ) ( NN loss ) ) ( PP ( IN of ) ( NP ( QP ( CD 13 ) ( CD million ) ) ) ) ( ADVP-TMP ( NP ( DT a ) ( NN year ) ) ( RB earlier ) ) ) ) ) )

The group had an operating profit of 65 million against a loss of 13 million a year earlier


( S ( ADVP ( RB However ) ) ( S-ADV ( VP ( VBG excluding ) ( NP ( NP ( DT the ) ( JJ year-earlier ) ( NN charge ) ) ( PP ( IN for ) ( NP ( NP ( NN recall ) ) ( PP ( IN of ) ( NP ( NN steering ) ( NN gear ) ) ) ) ) ) ) ) ( NP-SBJ ( NP ( NN operating ) ( NN profit ) ) ( PP-TMP ( IN in ) ( NP ( DT the ) ( JJS latest ) ( NN quarter ) ) ) ) ( VP ( VBD declined ) ( NP-EXT ( CD 14 ) ( NN % ) ) ( S-ADV ( VP ( VBG reflecting ) ( NP ( NP ( JJR higher ) ( NN start-up ) ( CC and ) ( NN product ) ( NN development ) ( NNS expenses ) ) ( PP-LOC ( IN in ) ( NP ( NN passenger-restraint ) ( NNS systems ) ) ) ) ) ) ) )

However excluding the year-earlier charge for recall of steering gear operating profit in the latest quarter declined 14 % reflecting higher start-up and product development expenses in passenger-restraint systems


( S ( S-TPC-1 ( NP-SBJ ( NNS Materials ) ( CC and ) ( NN production ) ( NNS costs ) ) ( ADVP ( RB also ) ) ( VP ( VBD rose ) ) ) ( NP-SBJ ( NNP TRW ) ) ( VP ( VBD said ) ) )

Materials and production costs also rose TRW said


( S ( NP-SBJ ( DT The ) ( NN information ) ( NNS systems ) ( NN segment ) ) ( VP ( VBD had ) ( NP ( DT a ) ( ADJP ( CD 44 ) ( NN % ) ) ( NN jump ) ( NNS sales ) ) ( PP-DIR ( TO to ) ( NP ( QP ( CD 196 ) ( CD million ) ) ) ) ) )

The information systems segment had a 44 % jump sales to 196 million


( S ( S-TPC-1 ( NP-SBJ ( DT An ) ( NN acquisition ) ) ( VP ( VBD accounted ) ( PP-CLR ( IN for ) ( NP ( PDT half ) ( DT the ) ( NNS sales ) ( NN rise ) ) ) ) ) ( NP-SBJ ( NNP TRW ) ) ( VP ( VBD said ) ) )

An acquisition accounted for half the sales rise TRW said


( S ( NP-SBJ ( NN Operating ) ( NN profit ) ) ( VP ( VBD rose ) ( ADVP-EXT ( RB threefold ) ) ( PP-DIR ( TO to ) ( NP ( QP ( CD 18 ) ( CD million ) ) ) ) ( PP-DIR ( IN from ) ( NP ( QP ( CD 6 ) ( CD million ) ) ) ) ) )

Operating profit rose threefold to 18 million from 6 million


( S ( PP-TMP ( IN For ) ( NP ( DT the ) ( CD nine ) ( NNS months ) ) ) ( NP-SBJ ( NP ( NNP TRW ) ( POS 's ) ) ( NN net ) ) ( VP ( VBD was ) ( NP-PRD ( NP ( QP ( CD 199 ) ( CD million ) ) ) ( CC or ) ( NP ( NP ( CD 3.22 ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ( ADVP ( RB down ) ( NP ( CD 3 ) ( NN % ) ) ( PP ( IN from ) ( NP ( NP ( QP ( CD 205 ) ( CD million ) ) ) ( CC or ) ( NP ( NP ( CD 3.33 ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ( ADVP-TMP ( NP ( DT a ) ( NN year ) ) ( RB earlier ) ) ) ) ) )

For the nine months TRW 's net was 199 million or 3.22 a share down 3 % from 205 million or 3.33 a share a year earlier


( S ( NP-SBJ ( NNS Sales ) ) ( VP ( VBD rose ) ( NP-EXT ( CD 2.9 ) ( NN % ) ) ( PP-DIR ( TO to ) ( NP ( QP ( CD 5.42 ) ( CD billion ) ) ) ) ( PP-DIR ( IN from ) ( NP ( QP ( CD 5.27 ) ( CD billion ) ) ) ) ) )

Sales rose 2.9 % to 5.42 billion from 5.27 billion


( S ( NP-SBJ-1 ( NNP David ) ( NNP D. ) ( NNP Lung ) ) ( VP ( VBD was ) ( VP ( VBN appointed ) ( S ( NP-PRD ( NP ( NN president ) ( CC and ) ( NN chief ) ( VBG operating ) ( NN officer ) ) ( PP ( IN of ) ( NP ( NP ( DT this ) ( NN maker ) ) ( PP ( IN of ) ( NP ( NP ( NN building ) ( NNS materials ) ) ( PP ( IN for ) ( NP ( NP ( JJ manufactured ) ( NNS homes ) ) ( CC and ) ( NP ( JJ recreational ) ( NNS vehicles ) ) ) ) ) ) ) ) ) ) ) ) )

David D. Lung was appointed president and chief operating officer of this maker of building materials for manufactured homes and recreational vehicles


( S ( PP ( IN As ) ( NP ( NN president ) ) ) ( NP-SBJ ( NP ( NNP Mr. ) ( NNP Lung ) ) ( ADJP ( NP ( CD 42 ) ( NNS years ) ) ( JJ old ) ) ) ( VP ( VBZ succeeds ) ( NP ( NP ( PRP$ his ) ( NN father ) ) ( NP ( NNP Mervin ) ( NNP D. ) ( NNP Lung ) ) ( NP ( CD 66 ) ) ( SBAR ( WHNP-1 ( WP who ) ) ( S ( VP ( VBD founded ) ( NP ( DT the ) ( NN company ) ) ( PP-TMP ( IN in ) ( NP ( CD 1959 ) ) ) ) ) ) ) ) )

As president Mr. Lung 42 years old succeeds his father Mervin D. Lung 66 who founded the company in 1959


( S ( NP-SBJ ( NNP Mervin ) ( NNP Lung ) ) ( VP ( VBZ remains ) ( NP-PRD ( NN chairman ) ( CC and ) ( JJ chief ) ( NN executive ) ( NN officer ) ) ) )

Mervin Lung remains chairman and chief executive officer


( S ( NP-SBJ ( NNP David ) ( NNP Lung ) ) ( VP ( VP ( VBZ has ) ( VP ( VBN been ) ( PP-PRD ( IN with ) ( NP ( NNP Patrick ) ) ) ( PP-TMP ( IN since ) ( NP ( CD 1970 ) ) ) ) ) ( CC and ) ( VP ( VBZ has ) ( VP ( VBN served ) ( PP-CLR ( IN as ) ( NP ( NP ( NN vice ) ( NN president ) ) ( PP ( IN for ) ( NP ( NN administration ) ( CC and ) ( NN purchasing ) ) ) ) ) ( PP-TMP ( IN since ) ( NP ( CD 1987 ) ) ) ) ) ) )

David Lung has been with Patrick since 1970 and has served as vice president for administration and purchasing since 1987


( S ( PP-TMP ( IN During ) ( NP ( PRP$ its ) ( NN centennial ) ( NN year ) ) ) ( NP-SBJ ( DT The ) ( NNP Wall ) ( NNP Street ) ( NNP Journal ) ) ( VP ( MD will ) ( VP ( VB report ) ( NP ( NP ( NNS events ) ) ( PP ( IN of ) ( NP ( DT the ) ( JJ past ) ( NN century ) ) ) ( SBAR ( WHNP-1 ( DT that ) ) ( S ( VP ( VBP stand ) ( PP-CLR ( IN as ) ( NP ( NP ( NNS milestones ) ) ( PP ( IN of ) ( NP ( JJ American ) ( NN business ) ( NN history ) ) ) ) ) ) ) ) ) ) ) )

During its centennial year The Wall Street Journal will report events of the past century that stand as milestones of American business history


( S ( NP-SBJ ( JJ SOFT ) ( NN CONTACT ) ( NNS LENSES ) ) ( VP ( VP ( VBP WON ) ( NP ( JJ federal ) ( NN blessing ) ) ( PP-TMP ( IN on ) ( NP ( NP ( NNP March ) ( CD 18 ) ) ( NP ( CD 1971 ) ) ) ) ) ( CC and ) ( VP ( ADVP ( RB quickly ) ) ( VBD became ) ( NP-PRD ( NN eye ) ( NNS openers ) ) ( PP ( IN for ) ( NP ( PRP$ their ) ( NNS makers ) ) ) ) ) )

SOFT CONTACT LENSES WON federal blessing on March 18 1971 and quickly became eye openers for their makers


( S ( NP-SBJ ( DT The ) ( NNP Food ) ( CC and ) ( NNP Drug ) ( NNP Administration ) ) ( NP-TMP ( DT that ) ( NN day ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ-1 ( NNP Bausch ) ( CC & ) ( NNP Lomb ) ) ( VP ( MD could ) ( VP ( VB start ) ( S ( VP ( VBG selling ) ( NP ( PRP them ) ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( NNP U.S. ) ) ) ) ) ) ) ) ) ) )

The Food and Drug Administration that day said Bausch & Lomb could start selling them in the U.S.


( S ( NP-SBJ ( DT The ) ( JJ cornflake-size ) ( NN product ) ) ( VP ( VBD was ) ( ADJP-PRD ( ADJP ( ADJP ( RBR more ) ( JJ comfortable ) ) ( CC and ) ( ADJP ( RBR less ) ( JJ prone ) ( PP ( TO to ) ( S-NOM ( VP ( VBG falling ) ( PRT ( RB out ) ) ) ) ) ) ) ( PP ( IN than ) ( NP ( NP ( JJ hard ) ( NN contact ) ( NNS lenses ) ) ( SBAR ( WHNP-1 ( WDT which ) ) ( S ( VP ( VBD had ) ( VP ( VBN been ) ( ADVP-LOC-PRD ( IN around ) ) ( PP-TMP ( IN since ) ( NP ( CD 1939 ) ) ) ) ) ) ) ) ) ) ) )

The cornflake-size product was more comfortable and less prone to falling out than hard contact lenses which had been around since 1939


( S ( NP-SBJ ( NNP Bausch ) ( CC & ) ( NNP Lomb ) ) ( VP ( VBD sold ) ( NP ( DT the ) ( NNS softies ) ) ( PP-LOC ( IN under ) ( NP ( NP ( DT a ) ( NN sublicense ) ) ( PP ( IN from ) ( NP ( NP ( NNP National ) ( NNP Patent ) ( NNP Development ) ) ( SBAR ( WHNP-1 ( WDT which ) ) ( S ( VP ( VBD had ) ( VP ( VBN gained ) ( NP ( NP ( DT the ) ( NNS rights ) ) ( PP ( IN from ) ( NP ( NP ( DT the ) ( NNP Czechoslovakia ) ( NNP Academy ) ) ( PP ( IN of ) ( NP ( NNPS Sciences ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Bausch & Lomb sold the softies under a sublicense from National Patent Development which had gained the rights from the Czechoslovakia Academy of Sciences


( S ( NP-SBJ ( NP ( NNP Otto ) ( NNP Wichterle ) ) ( NP ( DT a ) ( NNP Czech ) ) ) ( VP ( VBD invented ) ( NP ( PRP them ) ) ( PP-TMP ( IN in ) ( NP ( CD 1962 ) ) ) ) )

Otto Wichterle a Czech invented them in 1962


( S ( NP-SBJ-1 ( DT The ) ( JJ plastic ) ( NN lens ) ) ( VP ( VBZ wraps ) ( NP ( PRP itself ) ) ( PP-LOC ( IN over ) ( NP ( DT the ) ( NN cornea ) ) ) ( S-ADV ( VP ( VBG absorbing ) ( NP ( NN eye ) ( NN moisture ) ) ( SBAR-TMP ( IN while ) ( S ( VP ( VBG permitting ) ( S ( NP-SBJ ( NN oxygen ) ) ( VP ( TO to ) ( VP ( VB pass ) ( PRT ( RB through ) ) ) ) ) ) ) ) ) ) ) )

The plastic lens wraps itself over the cornea absorbing eye moisture while permitting oxygen to pass through


( S ( CC But ) ( NP-SBJ ( DT the ) ( JJ new ) ( NN lens ) ) ( VP ( VBD became ) ( NP-PRD ( NP ( DT the ) ( NN eye ) ) ( PP ( IN of ) ( NP ( DT a ) ( NN storm ) ) ) ) ) )

But the new lens became the eye of a storm


( S ( PP-TMP ( IN In ) ( NP ( NNP September ) ( CD 1971 ) ) ) ( NP-SBJ ( NNP California ) ( NNS officials ) ) ( VP ( VBD seized ) ( NP ( NP ( VBN bootlegged ) ( NNS lenses ) ) ( VP ( VBN made ) ( PP ( IN by ) ( NP-LGS ( JJ unlicensed ) ( NNS companies ) ) ) ) ) ( SBAR-TMP ( IN after ) ( S ( NP-SBJ ( DT some ) ) ( VP ( VBD showed ) ( NP ( NP ( NNS traces ) ) ( PP ( IN of ) ( NP ( NNS bacteria ) ) ) ) ) ) ) ) )

In September 1971 California officials seized bootlegged lenses made by unlicensed companies after some showed traces of bacteria


( S ( PP-TMP ( IN In ) ( NP ( NNP October ) ) ) ( NP-SBJ ( NNS doctors ) ) ( VP ( VBD were ) ( VP ( VBG debating ) ( NP ( NP ( DT the ) ( NN product ) ( POS 's ) ) ( NN safety ) ) ) ( S-ADV ( NP-SBJ ( DT some ) ) ( VP ( VBG claiming ) ( SBAR ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBD caused ) ( NP ( NNS infections ) ) ) ) ) ) ) ) )

In October doctors were debating the product 's safety some claiming it caused infections


( S ( CC And ) ( NP-SBJ ( EX there ) ) ( VP ( VBD were ) ( NP-PRD ( NP ( NNP Senate ) ( NNS hearings ) ) ( PP ( IN on ) ( NP ( DT the ) ( NNS questions ) ) ) ) ( PP-TMP ( IN in ) ( NP ( NNP July ) ( CD 1972 ) ) ) ) )

And there were Senate hearings on the questions in July 1972


( S ( NP-SBJ-1 ( DT The ) ( NN product ) ) ( VP ( VP ( VBD overcame ) ( NP ( DT the ) ( JJ bad ) ( NN publicity ) ) ) ( CC and ) ( VP ( VBD kept ) ( S ( VP ( VBG evolving ) ) ) ) ) )

The product overcame the bad publicity and kept evolving


( S ( NP-SBJ-2 ( NP ( DT The ) ( JJ early ) ( JJ soft ) ( NNS lenses ) ) ( SBAR ( WHNP-1 ( WDT which ) ) ( S ( VP ( VBD cost ) ( NP ( NP ( CD 300 ) ) ( NP-ADV ( DT a ) ( NN set ) ) ) ) ) ) ) ( VP ( VBD were ) ( VP ( VBN expected ) ( S ( VP ( TO to ) ( VP ( VB last ) ( PP-TMP ( IN for ) ( NP ( DT a ) ( NN year ) ) ) ) ) ) ) ) )

The early soft lenses which cost 300 a set were expected to last for a year


( S ( PP-TMP ( IN In ) ( NP ( CD 1983 ) ) ) ( NP-SBJ-2 ( NP ( JJ extended ) ( NN wear ) ( NNS versions ) ) ( VP ( VBN designed ) ( S ( VP ( TO to ) ( VP ( VB be ) ( VP ( VBN worn ) ( PP-TMP ( IN for ) ( NP ( NP ( CD 30 ) ( NNS days ) ) ( PP ( IN at ) ( NP ( DT a ) ( NN time ) ) ) ) ) ) ) ) ) ) ) ( VP ( NN wree ) ( VP ( VBD offered ) ) ) )

In 1983 extended wear versions designed to be worn for 30 days at a time wree offered


( S ( S ( ADVP-TMP ( NP ( CD Eighteen ) ( NNS months ) ) ( RB ago ) ) ( NP-SBJ ( DT a ) ( ADJP ( JJ disposable ) ( JJ seven-day ) ) ( NN model ) ) ( VP ( VBD bowed ) ) ) ( S ( NP-SBJ ( NP ( DT a ) ( NN year ) ( POS 's ) ) ( NN supply ) ) ( VP ( VBZ costs ) ( NP ( QP ( IN about ) ( CD 500 ) ) ) ) ) )

Eighteen months ago a disposable seven-day model bowed a year 's supply costs about 500


( S ( NP-TMP ( JJ Last ) ( NN month ) ) ( NP-SBJ ( NP ( DT the ) ( NNP FDA ) ) ( CC and ) ( NP ( NNP Contact ) ( NNP Lens ) ( NNP Institute ) ) ) ( VP ( VBD cautioned ) ( NP ( NNS users ) ) ( SBAR ( IN that ) ( S ( NP-SBJ ( JJ serious ) ( NN eye ) ( NNS infections ) ) ( VP ( MD could ) ( VP ( VB result ) ( PP-CLR ( IN from ) ( S-NOM ( VP ( VBG wearing ) ( NP ( NNS lenses ) ) ( NP ( NP ( QP ( JJR more ) ( IN than ) ( CD seven ) ) ( NNS days ) ) ( PP ( IN at ) ( NP ( DT a ) ( NN stretch ) ) ) ) ) ) ) ) ) ) ) ) )

Last month the FDA and Contact Lens Institute cautioned users that serious eye infections could result from wearing lenses more than seven days at a stretch


( S ( NP-TMP ( NN Today ) ) ( NP-SBJ ( NP ( NP ( QP ( CD 20 ) ( CD million ) ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( QP ( CD 25 ) ( CD million ) ) ( NNPS Americans ) ) ( VP ( VBG using ) ( NP ( NN contact ) ( NNS lenses ) ) ) ) ) ) ) ( VP ( VBP are ) ( VP ( VBG using ) ( NP ( DT the ) ( JJ soft ) ( NN type ) ) ) ) )

Today 20 million of the 25 million Americans using contact lenses are using the soft type


( S ( PP ( VBG Including ) ( NP ( DT the ) ( NN accesory ) ( NN eye ) ( NN care ) ( NNS products ) ) ) ( NP-SBJ ( NNS contacts ) ) ( VP ( VBP account ) ( PP-CLR ( IN for ) ( NP ( NP ( QP ( CD 2 ) ( CD billion ) ) ) ( PP ( IN in ) ( NP ( JJ annual ) ( JJ retail ) ( NNS sales ) ) ) ) ) ) )

Including the accesory eye care products contacts account for 2 billion in annual retail sales


( S ( SBAR-ADV ( IN Although ) ( S ( NP-SBJ ( NNP Bausch ) ) ( VP ( VBZ remains ) ( NP-PRD ( DT the ) ( NN leader ) ) ( PP-LOC ( IN among ) ( NP ( DT the ) ( CD six ) ( NNS majors ) ) ) ) ) ) ( NP-SBJ ( NP ( NNP Johnson ) ( CC & ) ( NNP Johnson ) ) ( PP ( IN with ) ( NP ( PRP$ its ) ( JJ new ) ( NNS disposables ) ) ) ) ( VP ( VBZ is ) ( VP ( VBG coming ) ( PRT ( RP on ) ) ( ADVP-MNR ( RB fast ) ) ) ) )

Although Bausch remains the leader among the six majors Johnson & Johnson with its new disposables is coming on fast


( S ( S ( NP-SBJ ( JJ Korean ) ( NN car ) ( NNS exports ) ) ( VP ( VBP have ) ( VP ( VBN slid ) ( NP-EXT ( QP ( IN about ) ( CD 40 ) ) ( NN % ) ) ( NP-TMP ( ADVP ( RB so ) ( RB far ) ) ( DT this ) ( NN year ) ) ) ) ) ( CC but ) ( S ( NP-SBJ ( NP ( NN auto ) ( NNS makers ) ) ( ADVP-LOC ( RB here ) ) ) ( VP ( VBP are ) ( RB n't ) ( VP ( VBG panicking ) ) ) ) )

Korean car exports have slid about 40 % so far this year but auto makers here are n't panicking


( S ( NP-SBJ ( PRP They ) ) ( VP ( VBP are ) ( VP ( VBG enjoying ) ( NP ( NP ( JJ domestic ) ( NNS sales ) ) ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( VP ( VBP are ) ( ADJP-PRD ( ADJP ( RBR more ) ) ( PP ( IN than ) ( S-NOM ( VP ( VBG making ) ( PRT ( RP up ) ) ( PP-CLR ( IN for ) ( NP ( VBN lost ) ( JJ overseas ) ( NNS sales ) ) ) ) ) ) ) ) ) ) ) ) ) )

They are enjoying domestic sales that are more than making up for lost overseas sales


( S ( NP-SBJ-1 ( ADJP ( JJ South ) ( JJ Korean ) ) ( NNS consumers ) ) ( VP ( VBP are ) ( VP ( VBN expected ) ( S ( VP ( TO to ) ( VP ( VB buy ) ( NP ( QP ( RB almost ) ( CD 500,000 ) ) ( NN passenger ) ( NNS cars ) ) ) ) ( NP-TMP ( DT this ) ( NN year ) ) ( ADVP ( RB up ) ( NP ( CD 60 ) ( NN % ) ) ( PP-TMP ( IN from ) ( NP ( CD 1988 ) ) ) ) ) ) ) )

South Korean consumers are expected to buy almost 500,000 passenger cars this year up 60 % from 1988


( S ( PP ( IN In ) ( NP ( NN fact ) ) ) ( NP-SBJ ( DT some ) ( NN auto ) ( NNS executives ) ) ( VP ( VBP suggest ) ( SBAR ( IN that ) ( S ( S ( NP-SBJ ( NP ( VBN slackened ) ( NN demand ) ) ( PP ( IN for ) ( NP ( PRP$ their ) ( NNS cars ) ) ) ( PP-LOC ( IN in ) ( NP ( NP ( DT the ) ( NNP U.S. ) ) ( CC and ) ( NP ( NNP Canada ) ) ) ) ) ( VP ( VBZ is ) ( NP-PRD ( DT a ) ( NN blessing ) ) ) ) ( S ( ADVP ( RB otherwise ) ) ( NP-SBJ-1 ( PRP they ) ) ( VP ( MD would ) ( RB n't ) ( VP ( VB be ) ( ADJP-PRD ( JJ able ) ( S ( VP ( TO to ) ( VP ( VB keep ) ( PRT ( RP up ) ) ( PP-CLR ( IN with ) ( NP ( NP ( NN demand ) ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( RBR more ) ( JJ profitable ) ( JJ local ) ( NN market ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

In fact some auto executives suggest that slackened demand for their cars in the U.S. and Canada is a blessing otherwise they would n't be able to keep up with demand in the more profitable local market


( SINV ( S-TPC-2 ( NP-SBJ-1 ( PRP We ) ) ( VP ( VBP are ) ( ADJP-PRD ( RB very ) ( JJ lucky ) ( S ( VP ( TO to ) ( VP ( ADVP-MNR ( RB easily ) ) ( VB change ) ( NP ( DT an ) ( NN export ) ( NN loss ) ) ( PP-CLR ( TO to ) ( NP ( JJ domestic ) ( NN plus ) ) ) ) ) ) ) ) ) ( VP ( VBZ says ) ) ( NP-SBJ ( NP ( NNP Hong ) ( NNP Tu ) ( NNP Pyo ) ) ( NP ( NP ( NN managing ) ( NN director ) ) ( PP ( IN of ) ( NP ( NP ( JJ domestic ) ( NN marketing ) ) ( PP ( IN for ) ( NP ( NNP Hyundai ) ( NNP Motor ) ( NNP Co ) ) ) ) ) ) ) )

We are very lucky to easily change an export loss to domestic plus says Hong Tu Pyo managing director of domestic marketing for Hyundai Motor Co


( S ( SBAR-ADV ( IN As ) ( FRAG ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBZ is ) ) ) ) ) ( NP-SBJ ( NP ( NN waiting ) ( NNS lists ) ) ( PP ( IN of ) ( NP ( DT a ) ( NN month ) ) ) ) ( VP ( VBP are ) ( RB n't ) ( ADJP-PRD ( JJ unusual ) ) ( PP-1 ( IN for ) ( NP ( JJ popular ) ( NNS models ) ) ) ) )

As it is waiting lists of a month are n't unusual for popular models


( S ( NP-SBJ ( NN Demand ) ) ( VP ( VBZ is ) ( ADJP-PRD ( ADJP ( RB so ) ( JJ strong ) ) ( SBAR ( IN that ) ( S ( NP-SBJ-1 ( NP ( DT all ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( JJ domestic ) ( NNS makers ) ) ( NP ( NP ( NNP Hyundai ) ) ( NP ( NNP Kia ) ( NNPS Motors ) ( NNP Corp. ) ) ( NP ( NNP Daewoo ) ( NNP Motor ) ( NNP Co. ) ) ( CC and ) ( NP ( RB even ) ( JJ upstart ) ( NNP SsangYong ) ( NNP Motor ) ( NNP Co. ) ) ) ) ) ) ( VP ( VBP plan ) ( S ( VP ( TO to ) ( VP ( VB build ) ( NP ( JJR more ) ( NNS factories ) ) ) ) ) ) ) ) ) ) )

Demand is so strong that all of the domestic makers Hyundai Kia Motors Corp. Daewoo Motor Co. and even upstart SsangYong Motor Co. plan to build more factories


( S ( NP-SBJ ( NN Industry ) ( NNS analysts ) ) ( VP ( VBP predict ) ( SBAR ( IN that ) ( S ( PP-TMP ( IN by ) ( NP ( CD 1995 ) ) ) ( NP-SBJ ( NNP South ) ( NNP Korea ) ) ( VP ( MD will ) ( VP ( VB be ) ( VP ( VBG building ) ( NP ( NP ( QP ( CD three ) ( CD million ) ) ( NNS cars ) ) ( NP-ADV ( DT a ) ( NN year ) ) ( NP ( NP ( QP ( IN about ) ( NN half ) ) ) ( PP ( IN of ) ( NP ( DT that ) ) ) ( PP ( IN for ) ( NP ( NN export ) ) ) ) ) ) ) ) ) ) ) )

Industry analysts predict that by 1995 South Korea will be building three million cars a year about half of that for export


( S ( NP-SBJ ( PRP It ) ) ( VP ( VBZ 's ) ( NP-PRD ( NP ( DT an ) ( JJ optimistic ) ( NN move ) ) ( PP-LOC ( IN in ) ( NP ( NP ( DT a ) ( NN industry ) ) ( VP ( ADVP ( RB already ) ) ( VBG facing ) ( NP ( JJ world-wide ) ( NN overcapacity ) ) ) ) ) ) ) )

It 's an optimistic move in a industry already facing world-wide overcapacity


( S ( CC But ) ( NP-SBJ ( ADJP ( NNP South ) ( NNP Korean ) ) ( NN auto ) ( NNS makers ) ) ( VP ( VBP are ) ( ADJP-PRD ( JJ confident ) ( SBAR ( SBAR ( IN that ) ( S ( NP-SBJ ( DT the ) ( NN export ) ( NN market ) ) ( VP ( MD will ) ( VP ( VB bounce ) ( ADVP ( RB back ) ) ) ) ) ) ( CC and ) ( SBAR ( DT that ) ( S ( NP-SBJ ( NP ( NN demand ) ) ( PP-LOC ( IN in ) ( NP ( NNP Korea ) ) ) ) ( VP ( MD will ) ( VP ( VB stay ) ( ADJP-PRD ( JJ strong ) ) ) ) ) ) ) ) ) )

But South Korean auto makers are confident that the export market will bounce back and that demand in Korea will stay strong


( S ( ADVP-TMP ( RB Currently ) ) ( NP-SBJ ( NP ( RB only ) ( CD one ) ) ( PP ( IN in ) ( NP ( CD 38 ) ( NNPS South ) ( NNPS Koreans ) ) ) ) ( VP ( VBZ owns ) ( NP ( DT a ) ( NN car ) ) ( ADVP ( RB up ) ( PP ( IN from ) ( NP ( NP ( CD one ) ) ( PP ( IN in ) ( NP ( CD 200 ) ) ) ) ( ADVP-TMP ( NP ( DT a ) ( NN decade ) ) ( RB ago ) ) ) ) ) )

Currently only one in 38 South Koreans owns a car up from one in 200 a decade ago


( S ( PP-TMP ( IN In ) ( NP ( DT the ) ( NN year ) ( CD 2000 ) ) ) ( NP-SBJ ( PRP it ) ) ( VP ( MD will ) ( VP ( VB be ) ( NP-PRD ( NP ( CD one ) ( NN car ) ) ( PP ( IN per ) ( NP ( NN family ) ) ) ) ) ) )

In the year 2000 it will be one car per family


( SINV ( S-TPC-1 ( PP-TMP ( IN At ) ( NP ( DT that ) ( NN point ) ) ) ( NP-SBJ ( JJ domestic ) ( NNS sales ) ) ( VP ( MD will ) ( VP ( VB slow ) ( ADVP ( RB down ) ) ) ) ) ( VP ( VBZ says ) ) ( NP-SBJ ( NP ( NNP Kim ) ( NNP Yoon ) ( NNP Kwon ) ) ( NP ( NP ( NN director ) ) ( PP ( IN of ) ( NP ( NN marketing ) ) ) ( PP ( IN for ) ( NP ( NNP Daewoo ) ( NNP Motor ) ) ) ) ) )

At that point domestic sales will slow down says Kim Yoon Kwon director of marketing for Daewoo Motor


( S ( S ( NP-SBJ ( NP ( DT The ) ( NN reason ) ) ( PP ( IN for ) ( NP ( DT the ) ( JJ tremendous ) ( NN demand ) ) ) ) ( VP ( VBZ is ) ( NP-PRD ( NN simple ) ) ) ) ( S ( NP-SBJ ( NNPS South ) ( NNPS Koreans ) ) ( ADVP ( RB suddenly ) ) ( VP ( VBP have ) ( NP ( ADJP ( DT a ) ( NN lot ) ( JJR more ) ) ( NN money ) ) ) ) )

The reason for the tremendous demand is simple South Koreans suddenly have a lot more money


( SINV ( S-TPC-2 ( NP-SBJ ( PRP We ) ) ( ADVP-TMP ( RB never ) ) ( VP ( VBD thought ) ( SBAR ( S ( NP-SBJ ( PRP we ) ) ( VP ( MD 'd ) ( VP ( VB own ) ( NP ( DT a ) ( NN car ) ) ) ) ) ) ) ) ( VP ( VBZ says ) ) ( NP-SBJ ( NP ( NNP Kwang ) ( NN Ok ) ( NNP Kyong ) ) ( SBAR ( WHNP-1 ( WP who ) ) ( S ( ADVP ( RB just ) ) ( VP ( VBD bought ) ( NP ( DT a ) ( NNP Daewoo ) ( NNP LeMans ) ) ( PP-MNR ( IN on ) ( NP ( DT a ) ( JJ five-year ) ( NN loan ) ) ) ) ) ) ) )

We never thought we 'd own a car says Kwang Ok Kyong who just bought a Daewoo LeMans on a five-year loan


( S ( NP-SBJ ( NP ( PRP She ) ) ( CC and ) ( NP ( PRP$ her ) ( NN husband ) ) ) ( VP ( VP ( VBD started ) ( NP ( DT a ) ( JJ small ) ( NN printing ) ( NN business ) ) ) ( CC and ) ( VP ( VBP need ) ( NP ( DT the ) ( NN car ) ) ( PP-PRP ( PP ( IN for ) ( NP ( NN work ) ) ) ( CONJP ( RB as ) ( RB well ) ( IN as ) ) ( PP ( IN for ) ( NP ( NN weekend ) ( NNS jaunts ) ) ) ) ) ) )

She and her husband started a small printing business and need the car for work as well as for weekend jaunts


( S ( NP-SBJ ( NP ( NN Pay ) ( NNS raises ) ) ( PP ( IN of ) ( NP ( CD 60 ) ( NN % ) ) ) ( PP-TMP ( IN over ) ( NP ( DT the ) ( JJ past ) ( CD three ) ( NNS years ) ) ) ) ( VP ( VBP have ) ( VP ( VBN given ) ( NP ( JJ many ) ( NNPS South ) ( NNPS Koreans ) ) ( NP ( NP ( DT the ) ( NN money ) ) ( SBAR ( S ( VP ( TO to ) ( VP ( VB enjoy ) ( NP ( NP ( DT the ) ( NNS things ) ) ( SBAR ( S ( NP-SBJ ( PRP they ) ) ( VP ( VBD were ) ( VP ( VBG supplying ) ( NP ( NP ( DT the ) ( NN rest ) ) ( PP ( IN of ) ( NP ( DT the ) ( NN world ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Pay raises of 60 % over the past three years have given many South Koreans the money to enjoy the things they were supplying the rest of the world


( S ( NP-SBJ ( NP ( DT The ) ( NN success ) ) ( PP ( IN of ) ( NP ( NN newcomer ) ( NNP SsangYong ) ( NNP Motor ) ) ) ) ( VP ( VBZ shows ) ( NP ( NP ( NP ( DT the ) ( NN strength ) ) ( PP ( IN of ) ( NP ( DT the ) ( NN auto ) ( NN market ) ) ) ) ( CC and ) ( NP ( PRP$ its ) ( VBG growing ) ( NN diversity ) ) ) ) )

The success of newcomer SsangYong Motor shows the strength of the auto market and its growing diversity


( S ( S-ADV ( NP-PRD ( NP ( DT A ) ( NN part ) ) ( PP ( IN of ) ( NP ( DT the ) ( JJ construction-oriented ) ( NN conglomerate ) ( NNP SsangYong ) ( NNP Group ) ) ) ) ) ( NP-SBJ-1 ( PRP it ) ) ( VP ( VBD took ) ( PRT ( RP over ) ) ( NP ( DT the ) ( VBG dying ) ( NNP Dong-A ) ( NNP Motor ) ( NNP Co. ) ) ( PP-TMP ( IN in ) ( NP ( CD 1986 ) ) ) ) )

A part of the construction-oriented conglomerate SsangYong Group it took over the dying Dong-A Motor Co. in 1986


( S ( NP-SBJ-1 ( NNP SsangYong ) ) ( VP ( VBD began ) ( S ( VP ( VBG making ) ( NP ( NP ( NNS variations ) ) ( PP ( IN of ) ( NP ( DT the ) ( JJ Jeep-like ) ( NNP Korando ) ( NN vehicle ) ) ) ) ) ) ) )

SsangYong began making variations of the Jeep-like Korando vehicle


( S ( NP-SBJ ( NNP Dong-A ) ) ( VP ( VBD had ) ( VP ( VBN had ) ( NP ( NP ( DT a ) ( NN technology ) ( NN agreement ) ) ( PP ( IN with ) ( NP ( NP ( NN Jeep ) ( NN maker ) ( NNP American ) ( NNPS Motors ) ( NNP Corp. ) ) ( NP ( ADVP-TMP ( RB now ) ) ( NP ( DT a ) ( NN part ) ) ( PP ( IN of ) ( NP ( NNP Chrysler ) ( NNP Corp ) ) ) ) ) ) ) ) ) )

Dong-A had had a technology agreement with Jeep maker American Motors Corp. now a part of Chrysler Corp


( S ( NP-SBJ ( DT The ) ( ADJP ( RBS most ) ( JJ popular ) ) ( NN style ) ) ( VP ( VBZ is ) ( NP-PRD ( NP ( DT the ) ( JJ stretched ) ( NNP Family ) ) ( SBAR ( WHNP-1 ( WDT which ) ) ( S ( VP ( VBZ resembles ) ( NP ( DT a ) ( NX ( NX ( NNP Ford ) ( NNP Bronco ) ) ( CC or ) ( NX ( NNP Chevy ) ( NNP Blazer ) ) ) ) ) ) ) ) ) )

The most popular style is the stretched Family which resembles a Ford Bronco or Chevy Blazer


( S ( S ( NP-SBJ ( DT The ) ( NN four-wheel-drive ) ( NNS vehicles ) ) ( VP ( VBP start ) ( PP-CLR ( IN at ) ( NP ( CD 15,000 ) ) ) ) ) ( S ( NP-SBJ ( DT a ) ( NNP Family ) ) ( VP ( MD can ) ( VP ( VB cost ) ( NP ( QP ( IN over ) ( CD 25,000 ) ) ) ) ) ) )

The four-wheel-drive vehicles start at 15,000 a Family can cost over 25,000


( S ( NP-SBJ ( NP ( NNP SsangYong ) ) ( SBAR ( WHNP-3 ( WDT which ) ) ( S ( VP ( VBZ has ) ( NP ( NP ( QP ( RB only ) ( IN about ) ( CD 3 ) ) ( NN % ) ) ( PP ( IN of ) ( NP ( DT the ) ( JJ domestic ) ( NN market ) ) ) ) ) ) ) ) ( VP ( MD will ) ( VP ( VB sell ) ( NP ( NP ( NP ( QP ( IN about ) ( CD 18,000 ) ) ) ( PP ( IN of ) ( NP ( PRP$ its ) ( NNS models ) ) ) ) ) ( NP-TMP ( DT this ) ( NN year ) ) ( NP-2 ( NP ( QP ( RB twice ) ( RB as ) ( JJ many ) ) ) ( PP ( IN as ) ( NP ( JJ last ) ( NN year ) ) ) ) ) ) )

SsangYong which has only about 3 % of the domestic market will sell about 18,000 of its models this year twice as many as last year


( S ( NP-SBJ ( PRP It ) ) ( VP ( VBZ sees ) ( S ( NP-SBJ ( NNS sales ) ) ( VP ( VBG rising ) ( NP-EXT ( CD 45 ) ( NN % ) ) ( PP-DIR ( TO to ) ( NP ( CD 26,000 ) ( NNS units ) ) ( NP-TMP ( JJ next ) ( NN year ) ) ) ) ) ) )

It sees sales rising 45 % to 26,000 units next year


( S ( NP-SBJ-1 ( DT The ) ( NN company ) ) ( VP ( VBZ plans ) ( S ( VP ( TO to ) ( VP ( VB expand ) ( NP ( NN plant ) ( NN capacity ) ) ( NP-EXT ( CD 50 ) ( NN % ) ) ( PP-TMP ( IN by ) ( NP ( CD 1991 ) ) ) ) ) ) ) )

The company plans to expand plant capacity 50 % by 1991


( S ( PP-TMP ( IN By ) ( ADVP ( RB then ) ) ) ( NP-SBJ-1 ( PRP it ) ) ( ADVP ( RB also ) ) ( VP ( VBZ hopes ) ( S ( VP ( TO to ) ( VP ( VB begin ) ( S ( VP ( VBG producing ) ( NP ( NP ( DT a ) ( NN passenger ) ( NN car ) ) ( VP ( VP ( VBN based ) ( PP-CLR ( IN on ) ( NP ( DT the ) ( NNP Volvo ) ( CD 240 ) ) ) ) ( CC and ) ( VP ( VBG selling ) ( PP-CLR ( IN for ) ( NP ( QP ( IN about ) ( CD 20,000 ) ) ) ) ) ) ) ) ) ) ) ) ) )

By then it also hopes to begin producing a passenger car based on the Volvo 240 and selling for about 20,000


( S ( S ( NP-SBJ ( NNP Hyundai ) ( CC and ) ( NNP Daewoo ) ) ( VP ( VBP seem ) ( ADJP-PRD ( JJ unconcerned ) ( PP ( IN about ) ( NP ( DT the ) ( NNP SsangYong ) ( NN threat ) ) ) ) ) ) ( CC but ) ( S ( NP-SBJ ( NP ( NNP Kia ) ) ( NP ( DT the ) ( JJ scrappy ) ( JJ No.3 ) ( NN auto ) ( NN maker ) ) ) ( VP ( VBZ is ) ( VP ( VBG selling ) ( NP ( NN four-wheel-drive ) ( NNS vehicles ) ) ( PP-MNR ( IN through ) ( NP ( PRP$ its ) ( NNP Asia ) ( NN unit ) ) ) ) ) ) )

Hyundai and Daewoo seem unconcerned about the SsangYong threat but Kia the scrappy No.3 auto maker is selling four-wheel-drive vehicles through its Asia unit


( S ( NP-SBJ-1 ( PRP It ) ) ( VP ( VBZ plans ) ( S ( VP ( TO to ) ( VP ( VB sell ) ( NP ( CD 1,700 ) ( NNS units ) ) ( PP-TMP ( IN in ) ( NP ( CD 1989 ) ) ) ) ) ) ) )

It plans to sell 1,700 units in 1989


( S ( NP-SBJ ( NP ( NNP Kia ) ) ( NP ( NP ( DT the ) ( JJ only ) ( JJ Korean ) ( NN car ) ( NN maker ) ) ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( VP ( VBZ has ) ( VP ( VBN seen ) ( S ( NP-SBJ ( PRP$ its ) ( JJ overseas ) ( NNS sales ) ) ( VP ( VB grow ) ( PP-TMP ( IN in ) ( NP ( CD 1989 ) ) ) ) ) ) ) ) ) ) ) ( VP ( VBZ aims ) ( PP-CLR ( IN at ) ( NP ( NP ( NNP Korea ) ( POS 's ) ) ( JJ common ) ( NN man ) ) ) ) )

Kia the only Korean car maker that has seen its overseas sales grow in 1989 aims at Korea 's common man


( S ( NP-SBJ ( PRP$ Its ) ( NN advantage ) ) ( VP ( VBZ has ) ( VP ( VBN been ) ( NP-PRD ( NP ( DT the ) ( JJ peppy ) ( JJ little ) ( NNP Pride ) ) ( VP ( VBN sold ) ( PP-CLR ( IN as ) ( NP ( DT the ) ( NNP Ford ) ( NNP Festiva ) ) ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( NNP U.S. ) ) ) ) ) ) ) )

Its advantage has been the peppy little Pride sold as the Ford Festiva in the U.S.


( S ( PP ( IN At ) ( NP ( NP ( QP ( CD 3.8 ) ( CD million ) ) ( NN won ) ) ( CC or ) ( NP ( CD 5,700 ) ) ) ) ( NP-SBJ ( DT the ) ( NN econobox ) ) ( VP ( VBZ is ) ( NP-PRD ( DT the ) ( JJ lowest-priced ) ( NN car ) ) ( PP-LOC ( IN in ) ( NP ( NNP South ) ( NNP Korea ) ) ) ) )

At 3.8 million won or 5,700 the econobox is the lowest-priced car in South Korea


( S ( PP ( IN Along ) ( PP ( IN with ) ( NP ( CD two ) ( JJR larger ) ( NNS models ) ) ) ) ( NP-SBJ ( DT the ) ( NN company ) ) ( VP ( VBZ claims ) ( NP ( NP ( CD 18 ) ( NN % ) ) ( PP ( IN of ) ( NP ( DT the ) ( JJ domestic ) ( NN market ) ) ) ) ) )

Along with two larger models the company claims 18 % of the domestic market


( S ( NP-SBJ ( NP ( NNP Ford ) ( NNP Motor ) ( NNP Co. ) ) ( CC and ) ( NP ( NP ( NNP Japan ) ( POS 's ) ) ( NNP Mazda ) ( NNP Motor ) ( NNP Corp. ) ) ) ( VP ( VBP have ) ( NP ( NP ( NN equity ) ( NNS interests ) ) ( PP ( IN in ) ( NP ( NNP Kia ) ) ) ) ) )

Ford Motor Co. and Japan 's Mazda Motor Corp. have equity interests in Kia


( S ( NP-SBJ ( NNP Kia ) ) ( VP ( VBZ is ) ( NP-PRD ( NP ( DT the ) ( RBS most ) ( JJ aggressive ) ) ( PP ( IN of ) ( NP ( DT the ) ( NNP Korean ) ( NNP Big ) ( NNP Three ) ) ) ) ( PP ( IN in ) ( S-NOM ( VP ( VBG offering ) ( NP ( NN financing ) ) ) ) ) ) )

Kia is the most aggressive of the Korean Big Three in offering financing


( S ( NP-SBJ ( NP ( NNS Loans ) ) ( PP ( IN for ) ( ADVP ( RB as ) ( JJ long ) ( PP ( IN as ) ( NP ( CD five ) ( NNS years ) ) ) ) ) ) ( VP ( VBP make ) ( S ( NP-SBJ ( DT the ) ( NNS cars ) ) ( ADJP-PRD ( RB very ) ( JJ accessible ) ) ) ( PP ( IN with ) ( NP ( NP ( JJ monthly ) ( NNS payments ) ) ( ADJP ( RB as ) ( RB low ) ( PP ( IN as ) ( NP ( NP ( CD 80,000 ) ( NN won ) ) ( CC or ) ( NP ( CD 120 ) ) ) ) ) ) ) ) )

Loans for as long as five years make the cars very accessible with monthly payments as low as 80,000 won or 120


( S ( NP-SBJ ( NP ( NNP Daewoo ) ( NNP Motor ) ) ( NP ( NP ( DT a ) ( CD 50-50 ) ( NN joint ) ( NN venture ) ) ( PP ( IN with ) ( NP ( NP ( NNP General ) ( NNPS Motors ) ( NNP Corp. ) ) ( CC and ) ( NP ( DT the ) ( NNP Daewoo ) ( NNP Group ) ( NN conglomerate ) ) ) ) ) ) ( VP ( VBZ is ) ( NP-PRD ( NP ( DT the ) ( JJ only ) ( NN auto ) ( NN maker ) ) ( SBAR ( WHNP-51 ( WDT that ) ) ( S ( VP ( VBZ appears ) ( S ( VP ( TO to ) ( VP ( VB be ) ( VP ( VBG hurting ) ) ) ) ) ) ) ) ) ) )

Daewoo Motor a 50-50 joint venture with General Motors Corp. and the Daewoo Group conglomerate is the only auto maker that appears to be hurting


( S ( NP-SBJ ( NP ( NNS Shipments ) ) ( PP ( IN of ) ( NP ( PRP$ its ) ( NNP Lemans ) ) ) ( PP ( TO to ) ( NP ( NP ( NNP GM ) ( POS 's ) ) ( NNP Pontiac ) ( NN division ) ) ) ) ( VP ( VBP are ) ( ADVP-PRD ( RB off ) ( NP ( QP ( IN about ) ( CD 65 ) ) ( NN % ) ) ) ( PP ( IN from ) ( ADVP-TMP ( NP ( DT a ) ( NN year ) ) ( RB ago ) ) ) ( PP ( FW versus ) ( NP ( NP ( NP ( DT a ) ( ADJP ( CD 44 ) ( NN % ) ) ( NN decline ) ) ( PP ( IN for ) ( NP ( NNP Hyundai ) ) ) ) ( CC and ) ( NP ( NP ( DT an ) ( ADJP ( CD 18 ) ( NN % ) ) ( NN increase ) ) ( PP ( IN for ) ( NP ( NNP Kia ) ) ) ) ) ) ) )

Shipments of its Lemans to GM 's Pontiac division are off about 65 % from a year ago versus a 44 % decline for Hyundai and an 18 % increase for Kia


( S ( ADVP ( RB Moreover ) ) ( NP-SBJ ( NP ( NNP Daewoo ) ( POS 's ) ) ( JJ domestic ) ( NNS sales ) ) ( VP ( VBP have ) ( VP ( VBN grown ) ( ADVP ( ADVP ( NN half ) ( RB as ) ( RB fast ) ) ( PP ( IN as ) ( NP ( NP ( NNS sales ) ) ( PP ( IN of ) ( NP ( PRP$ its ) ( NNS rivals ) ) ) ) ) ) ) ) )

Moreover Daewoo 's domestic sales have grown half as fast as sales of its rivals


( S ( NP-SBJ ( NP ( DT The ) ( JJ big ) ( NN problem ) ) ( PP ( IN for ) ( NP ( NP ( NNP Daewoo ) ) ( SBAR ( WHNP-1 ( WDT which ) ) ( S ( VP ( VBZ holds ) ( NP ( NP ( QP ( IN about ) ( CD 21 ) ) ( NN % ) ) ( PP ( IN of ) ( NP ( DT the ) ( NN market ) ) ) ) ) ) ) ) ) ) ( VP ( VBZ is ) ( NP-PRD ( NP ( DT the ) ( JJ long ) ( NN series ) ) ( PP ( IN of ) ( NP ( NP ( NN labor ) ( NNS disruptions ) ) ( SBAR ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBD suffered ) ( NP-TMP ( DT this ) ( NN year ) ) ) ) ) ) ) ) ) )

The big problem for Daewoo which holds about 21 % of the market is the long series of labor disruptions it suffered this year


( S ( CC But ) ( NP-SBJ ( NNP Daewoo ) ) ( VP ( VBZ is ) ( VP ( VBG expanding ) ( ADVP ( RB too ) ) ) ) )

But Daewoo is expanding too


( S ( PP ( IN In ) ( NP ( NN fact ) ) ) ( NP-SBJ-1 ( NP ( DT a ) ( NN sister ) ( NN company ) ) ( NP ( NNP Daewoo ) ( NNP Shipbuilding ) ( CC and ) ( NNP Heavy ) ( NNP Machinery ) ) ) ( VP ( VBZ plans ) ( S ( VP ( TO to ) ( VP ( VB build ) ( NP ( CD 240,000 ) ( NNS minicars ) ) ( PP-TMP ( IN by ) ( NP ( DT the ) ( NNS mid-1990s ) ) ) ) ) ) ) )

In fact a sister company Daewoo Shipbuilding and Heavy Machinery plans to build 240,000 minicars by the mid-1990s


( S ( NP-SBJ-1 ( NP ( NNP Hyundai ) ) ( NP ( NP ( DT the ) ( JJ Korean ) ( NN market ) ( NN leader ) ) ( PP ( IN with ) ( NP ( DT a ) ( ADJP ( CD 58 ) ( NN % ) ) ( NN share ) ) ) ) ) ( ADVP ( RB also ) ) ( VP ( VBZ plans ) ( S ( VP ( TO to ) ( VP ( VB jump ) ( PP-CLR ( IN into ) ( NP ( NNS minicars ) ) ) ( PP-TMP ( IN at ) ( NP ( DT the ) ( JJ same ) ( NN time ) ) ) ) ) ) ) )

Hyundai the Korean market leader with a 58 % share also plans to jump into minicars at the same time


( S ( NP-SBJ ( PRP It ) ) ( VP ( VBZ has ) ( NP ( NP ( DT a ) ( JJ similar ) ( NN project ) ) ( PP ( IN for ) ( NP ( NP ( CD 200,000 ) ( NNS cars ) ) ( NP-ADV ( DT a ) ( NN year ) ) ) ) ) ) )

It has a similar project for 200,000 cars a year


( S ( NP-SBJ ( NNP Kia ) ) ( VP ( VBZ is ) ( ADVP ( RB reportedly ) ) ( ADVP ( RB also ) ) ( VP ( VBG considering ) ( NP ( ADJP ( JJ such ) ( DT a ) ) ( NN plan ) ) ) ) )

Kia is reportedly also considering such a plan


( S ( S ( NP-SBJ-1 ( RB Even ) ( JJ giant ) ( NNP Samsung ) ( NNP Group ) ) ( VP ( VBZ is ) ( VP ( VBN rumored ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( JJ Korean ) ( NN press ) ) ) ( S ( VP ( TO to ) ( VP ( VB be ) ( VP ( VBG considering ) ( S ( VP ( VBG getting ) ( PP-CLR ( IN into ) ( NP ( DT the ) ( NN auto-making ) ( NN business ) ) ) ) ) ) ) ) ) ) ) ) ( S ( NP-SBJ ( DT a ) ( NN company ) ( NN spokesman ) ) ( VP ( VBD had ) ( NP ( DT no ) ( NN comment ) ) ) ) )

Even giant Samsung Group is rumored in the Korean press to be considering getting into the auto-making business a company spokesman had no comment


( S ( NP-SBJ-1 ( NNP Selwyn ) ( NNP B. ) ( NNP Kossuth ) ) ( VP ( VBD was ) ( VP ( VBN named ) ( S ( NP-PRD ( NP ( NN executive ) ( NN director ) ) ( PP ( IN of ) ( NP ( DT the ) ( NN commission ) ) ) ) ) ( S-ADV ( ADJP-PRD ( JJ effective ) ( NP-TMP ( JJ early ) ( NNP November ) ) ) ) ) ) )

Selwyn B. Kossuth was named executive director of the commission effective early November


( S ( NP-SBJ ( NP ( NNP Mr. ) ( NNP Kossuth ) ) ( ADJP ( NP ( CD 52 ) ( NNS years ) ) ( JJ old ) ) ) ( VP ( VBZ succeeds ) ( NP ( NP ( NNP Ermanno ) ( NNP Pascutto ) ) ( NP ( CD 36 ) ) ( SBAR ( WHNP-1 ( WP who ) ) ( S ( VP ( VBD resigned ) ( S-PRP ( VP ( TO to ) ( VP ( VB join ) ( NP ( NP ( NNP Hong ) ( NNP Kong ) ( POS 's ) ) ( NNPS Securities ) ( CC and ) ( NNPS Futures ) ( NNP Commission ) ) ) ) ) ) ) ) ) ) )

Mr. Kossuth 52 years old succeeds Ermanno Pascutto 36 who resigned to join Hong Kong 's Securities and Futures Commission


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

Mr. Kossuth was vice president and director corporate finance of Nesbitt Thomson Deacon Inc. a Toronto investment dealer


( S ( NP-SBJ-1 ( NP ( NNP Robert ) ( NNP P. ) ( NNP Bulseco ) ) ( ADJP ( NP ( CD 44 ) ( NNS years ) ) ( JJ old ) ) ) ( VP ( VBD was ) ( VP ( VBN named ) ( S ( NP-PRD ( NP ( NP ( NN president ) ) ( CC and ) ( NP ( JJ chief ) ( JJ administrative ) ( NN officer ) ) ) ( PP ( IN of ) ( NP ( DT this ) ( JJ regional ) ( JJ commercial ) ( NN bank ) ) ) ) ) ) ) )

Robert P. Bulseco 44 years old was named president and chief administrative officer of this regional commercial bank


( S ( NP-SBJ ( DT Both ) ( NNS posts ) ) ( VP ( VBD had ) ( VP ( VBN been ) ( ADJP-PRD ( JJ vacant ) ) ) ) )

Both posts had been vacant


( S ( NP-SBJ-1 ( NP ( NNP Robert ) ( NNP Robie ) ) ( NP ( CD 51 ) ) ) ( VP ( VBD was ) ( VP ( VBN named ) ( PP-CLR ( TO to ) ( NP ( NP ( DT the ) ( JJ new ) ( NNS positions ) ) ( PP ( IN of ) ( NP ( NP ( NN vice ) ( NN chairman ) ) ( CC and ) ( NP ( JJ chief ) ( NN credit ) ( NN officer ) ) ) ) ) ) ) ) )

Robert Robie 51 was named to the new positions of vice chairman and chief credit officer


( S ( NP-SBJ-1 ( DT AN ) ( NN EARTHQUAKE ) ) ( VP ( VBD STRUCK ) ( NP ( JJ Northern ) ( NNP California ) ) ( S-ADV ( VP ( VBG killing ) ( NP ( QP ( JJR more ) ( IN than ) ( CD 50 ) ) ( NNS people ) ) ) ) ) )

AN EARTHQUAKE STRUCK Northern California killing more than 50 people


( S ( NP-SBJ ( NP ( DT The ) ( JJ violent ) ( NN temblor ) ) ( SBAR ( WHNP-1 ( WDT which ) ) ( S ( VP ( VP ( VBD lasted ) ( NP ( QP ( IN about ) ( CD 15 ) ) ( NNS seconds ) ) ) ( CC and ) ( VP ( VBD registered ) ( NP ( CD 6.9 ) ) ( PP-CLR ( IN on ) ( NP ( DT the ) ( NNP Richter ) ( NN scale ) ) ) ) ) ) ) ) ( ADVP ( RB also ) ) ( VP ( VP ( VBD caused ) ( NP ( NP ( DT the ) ( NN collapse ) ) ( PP ( IN of ) ( NP ( NP ( DT a ) ( JJ 30-foot ) ( NN section ) ) ( PP ( IN of ) ( NP ( DT the ) ( NNP San ) ( NNP Francisco-Oakland ) ( NNP Bay ) ( NNP Bridge ) ) ) ) ) ) ) ( CC and ) ( VP ( VBD shook ) ( NP ( NNP Candlestick ) ( NNP Park ) ) ) ) )

The violent temblor which lasted about 15 seconds and registered 6.9 on the Richter scale also caused the collapse of a 30-foot section of the San Francisco-Oakland Bay Bridge and shook Candlestick Park


( S ( NP-SBJ-1 ( DT The ) ( NN tremor ) ) ( VP ( VP ( VBD was ) ( ADJP-PRD ( VBN centered ) ( PP-LOC ( IN near ) ( NP ( NP ( NNP Hollister ) ) ( NP-LOC ( NP ( NN southeast ) ) ( PP ( IN of ) ( NP ( NNP San ) ( NNP Francisco ) ) ) ) ) ) ) ) ( CC and ) ( VP ( VBD was ) ( VP ( VBN felt ) ( ADVP-LOC ( RB as ) ( RB far ) ( PP ( IN as ) ( NP ( CD 200 ) ( NNS miles ) ) ) ( RB away ) ) ) ) ) )

The tremor was centered near Hollister southeast of San Francisco and was felt as far as 200 miles away


( S ( NP-SBJ-1 ( JJ Numerous ) ( NNS injuries ) ) ( VP ( VBD were ) ( VP ( VBN reported ) ) ) )

Numerous injuries were reported


( S ( S ( NP-SBJ ( DT Some ) ( NNS buildings ) ) ( VP ( VBD collapsed ) ) ) ( S ( NP-SBJ ( NN gas ) ( CC and ) ( NN water ) ( NNS lines ) ) ( VP ( VBD ruptured ) ) ) ( CC and ) ( S ( NP-SBJ ( NNS fires ) ) ( VP ( VBD raged ) ) ) )

Some buildings collapsed gas and water lines ruptured and fires raged


( S ( NP-SBJ ( NP ( DT The ) ( NN quake ) ) ( SBAR ( WHNP-1 ( WDT which ) ) ( S ( ADVP ( RB also ) ) ( VP ( VBD caused ) ( NP ( NP ( NN damage ) ) ( PP-LOC ( IN in ) ( NP ( NP ( NNP San ) ( NNP Jose ) ) ( CC and ) ( NP ( NNP Berkeley ) ) ) ) ) ) ) ) ) ( VP ( VP ( VBD knocked ) ( PRT ( RP out ) ) ( NP ( NN electricity ) ( CC and ) ( NNS telephones ) ) ) ( VP ( VBD cracked ) ( NP ( NNS roadways ) ) ) ( CC and ) ( VP ( VBD disrupted ) ( NP ( NP ( NN subway ) ( NN service ) ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( NNP Bay ) ( NN Area ) ) ) ) ) ) )

The quake which also caused damage in San Jose and Berkeley knocked out electricity and telephones cracked roadways and disrupted subway service in the Bay Area


( S ( NP-SBJ-2 ( JJ Major ) ( NNS injuries ) ) ( VP ( VBD were ) ( RB n't ) ( VP ( VBN reported ) ( PP-LOC ( IN at ) ( NP ( NP ( NNP Candlestick ) ( NNP Park ) ) ( SBAR ( WHADVP-3 ( WRB where ) ) ( S ( S ( NP-SBJ-1 ( NP ( DT the ) ( JJ third ) ( NN game ) ) ( PP ( IN of ) ( NP ( NP ( NN baseball ) ( POS 's ) ) ( NNP World ) ( NNP Series ) ) ) ) ( VP ( VBD was ) ( VP-5 ( VBN canceled ) ) ) ) ( CC and ) ( S ( NP-SBJ=1-4 ( NNS fans ) ) ( VP=5 ( VBN evacuated ) ( PP-CLR ( IN from ) ( NP ( DT the ) ( NN stadium ) ) ) ) ) ) ) ) ) ) ) )

Major injuries were n't reported at Candlestick Park where the third game of baseball 's World Series was canceled and fans evacuated from the stadium


( S ( NP-SBJ-1 ( NNP Bush ) ) ( VP ( VBD vowed ) ( S ( VP ( TO to ) ( VP ( VB veto ) ( NP ( NP ( DT a ) ( NN bill ) ) ( VP ( VBG allowing ) ( NP ( NP ( JJ federal ) ( NN financing ) ) ( PP ( IN for ) ( NP ( NP ( NNS abortions ) ) ( PP ( IN in ) ( NP ( NP ( NNS cases ) ) ( PP ( IN of ) ( NP ( NN rape ) ( CC and ) ( NN incest ) ) ) ) ) ) ) ) ) ) ) ) ) ( S-ADV ( VP ( VBG saying ) ( SBAR ( S ( NP-SBJ-2 ( NN tax ) ( NNS dollars ) ) ( VP ( MD should ) ( RB n't ) ( VP ( VB be ) ( VP ( VBN used ) ( S ( VP ( TO to ) ( VP ( VB compound ) ( NP ( DT a ) ( JJ violent ) ( NN act ) ) ( PP-MNR ( IN with ) ( NP ( NP ( DT the ) ( NN taking ) ) ( PP ( IN of ) ( NP ( DT an ) ( JJ unborn ) ( NN life ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Bush vowed to veto a bill allowing federal financing for abortions in cases of rape and incest saying tax dollars should n't be used to compound a violent act with the taking of an unborn life


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

His pledge in a letter to Democratic Sen. Byrd came ahead of an expected Senate vote on spending legislation containing the provision


( S ( NP-SBJ ( NP ( NNP East ) ( NNP Germany ) ( POS 's ) ) ( NNP Politburo ) ) ( VP ( VBD met ) ( PP-MNR ( IN amid ) ( NP ( NN speculation ) ( SBAR ( IN that ) ( S ( NP-SBJ ( DT the ) ( NN ruling ) ( NN body ) ) ( VP ( MD would ) ( VP ( VB oust ) ( NP ( NP ( JJ hard-line ) ( NN leader ) ( NNP Honecker ) ) ( SBAR ( WHNP-2 ( WP$ whose ) ( NN rule ) ) ( S ( VP ( VBZ has ) ( VP ( VBN been ) ( VP ( VBN challenged ) ( PP ( IN by ) ( NP-LGS ( NP ( JJ mass ) ( NN emigration ) ) ( CC and ) ( NP ( NP ( NNS calls ) ) ( PP ( IN for ) ( NP ( JJ democratic ) ( NNS freedoms ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

East Germany 's Politburo met amid speculation that the ruling body would oust hard-line leader Honecker whose rule has been challenged by mass emigration and calls for democratic freedoms


( S ( ADVP-TMP ( RB Meanwhile ) ) ( NP-SBJ ( QP ( IN about ) ( CD 125 ) ) ( NNS refugees ) ) ( VP ( VP ( VBD flew ) ( PP-DIR ( TO to ) ( NP ( NP ( NNP Duesseldorf ) ) ( NP ( NNP West ) ( NNP Germany ) ) ) ) ( PP-DIR ( IN from ) ( NP ( NNP Warsaw ) ) ) ) ( NP ( NP ( DT the ) ( JJ first ) ( NN airlift ) ) ( PP-LOC ( IN in ) ( NP ( NP ( NNP East ) ( NNP Germany ) ( POS 's ) ) ( NN refugee ) ( NN exodus ) ) ) ) ) )

Meanwhile about 125 refugees flew to Duesseldorf West Germany from Warsaw the first airlift in East Germany 's refugee exodus


( S ( NP-SBJ-1 ( DT The ) ( NNP World ) ( NNP Psychiatric ) ( NNP Association ) ) ( VP ( VBD voted ) ( PP-LOC ( IN at ) ( NP ( DT an ) ( NNP Athens ) ( NN parley ) ) ) ( S ( VP ( TO to ) ( VP ( ADVP-MNR ( RB conditionally ) ) ( VB readmit ) ( NP ( DT the ) ( NNP Soviet ) ( NNP Union ) ) ) ) ) ) )

The World Psychiatric Association voted at an Athens parley to conditionally readmit the Soviet Union


( S ( NP-SBJ-1 ( NP ( NNP Moscow ) ) ( SBAR ( WHNP-4 ( WDT which ) ) ( S ( VP ( VBD left ) ( NP ( DT the ) ( NN group ) ) ( PP-TMP ( IN in ) ( NP ( CD 1983 ) ) ) ( S-PRP ( VP ( TO to ) ( VP ( VB avoid ) ( NP ( NP ( NN explusion ) ) ( PP ( IN over ) ( NP ( NNS allegations ) ( SBAR ( IN that ) ( S ( NP-SBJ-2 ( JJ political ) ( NNS dissidents ) ) ( VP ( VBD were ) ( VP ( VBG being ) ( VP ( VBN certified ) ( PP-CLR ( IN as ) ( ADJP ( JJ insane ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ( VP ( MD could ) ( VP ( VB be ) ( VP ( VBN suspended ) ( SBAR-ADV ( IN if ) ( S ( NP-SBJ-3 ( NP ( DT the ) ( NN misuse ) ) ( PP ( IN of ) ( NP ( NN psychiatry ) ) ) ( PP ( IN against ) ( NP ( NNS dissenters ) ) ) ) ( VP ( VBZ is ) ( VP ( VBN discovered ) ( PP-TMP ( IN during ) ( NP ( NP ( DT a ) ( NN review ) ) ( PP-TMP ( IN within ) ( NP ( DT a ) ( NN year ) ) ) ) ) ) ) ) ) ) ) ) )

Moscow which left the group in 1983 to avoid explusion over allegations that political dissidents were being certified as insane could be suspended if the misuse of psychiatry against dissenters is discovered during a review within a year


( S ( NP-SBJ ( NNP NASA ) ) ( VP ( VBD postponed ) ( NP ( NP ( DT the ) ( NN liftoff ) ) ( PP ( IN of ) ( NP ( DT the ) ( NN space ) ( NN shuttle ) ( NNP Atlantis ) ) ) ) ( PP-PRP ( RB because ) ( IN of ) ( NP ( NP ( NN rain ) ) ( PP-LOC ( IN near ) ( NP ( NP ( DT the ) ( NN site ) ) ( PP ( IN of ) ( NP ( DT the ) ( NN launch ) ( NN pad ) ) ) ( PP-LOC ( IN in ) ( NP ( NP ( NNP Cape ) ( NNP Canaveral ) ) ( NP ( NNP Fla ) ) ) ) ) ) ) ) ) )

NASA postponed the liftoff of the space shuttle Atlantis because of rain near the site of the launch pad in Cape Canaveral Fla


( S ( NP-SBJ-1 ( DT The ) ( NN flight ) ) ( VP ( VBD was ) ( VP ( VBN rescheduled ) ( PP ( IN for ) ( NP ( NN today ) ) ) ) ) )

The flight was rescheduled for today


( S ( NP-SBJ-1 ( NP ( DT The ) ( NN spacecraft ) ( POS 's ) ) ( CD five ) ( NNS astronauts ) ) ( VP ( VBP are ) ( S ( VP ( TO to ) ( VP ( VB dispatch ) ( NP ( DT the ) ( JJ nuclear-powered ) ( NNP Galileo ) ( NN space ) ( NN probe ) ) ( PP ( IN on ) ( NP ( NP ( DT an ) ( JJ exploratory ) ( NN mission ) ) ( PP-DIR ( TO to ) ( NP ( NNP Jupiter ) ) ) ) ) ) ) ) ) )

The spacecraft 's five astronauts are to dispatch the nuclear-powered Galileo space probe on an exploratory mission to Jupiter


( S ( NP-SBJ ( NNP Senate ) ( JJ Democratic ) ( NNS leaders ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( PRP they ) ) ( VP ( VBD had ) ( NP ( NP ( RB enough ) ( NNS votes ) ) ( SBAR ( S ( VP ( TO to ) ( VP ( VB defeat ) ( NP ( NP ( DT a ) ( VBN proposed ) ( JJ constitutional ) ( NN amendment ) ) ( SBAR ( S ( VP ( TO to ) ( VP ( VB ban ) ( NP ( NN flag ) ( NN burning ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Senate Democratic leaders said they had enough votes to defeat a proposed constitutional amendment to ban flag burning


( S ( NP-SBJ-1 ( DT The ) ( NN amendment ) ) ( VP ( VBZ is ) ( VP ( VBN aimed ) ( PP-CLR ( IN at ) ( S-NOM ( VP ( VBG skirting ) ( NP ( NP ( DT a ) ( NNP Supreme ) ( NNP Court ) ( NN ruling ) ) ( SBAR ( WHNP-3 ( WDT that ) ) ( S ( VP ( VBD threw ) ( PRT ( RP out ) ) ( NP ( NP ( DT the ) ( NN conviction ) ) ( PP ( IN of ) ( NP ( DT a ) ( NNP Texas ) ( NN flag-burner ) ) ) ) ( PP-PRP ( IN on ) ( NP ( NNS grounds ) ( SBAR ( IN that ) ( S ( NP-SBJ-2 ( NP ( PRP$ his ) ( NN freedom ) ) ( PP ( IN of ) ( NP ( NN speech ) ) ) ) ( VP ( VBD was ) ( VP ( VBN violated ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

The amendment is aimed at skirting a Supreme Court ruling that threw out the conviction of a Texas flag-burner on grounds that his freedom of speech was violated


( S ( NP-SBJ ( JJ Federal ) ( NNS researchers ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ-1 ( NP ( NN lung-cancer ) ( NN mortality ) ( NNS rates ) ) ( PP ( IN for ) ( NP ( NP ( NNS people ) ) ( PP ( IN under ) ( NP ( NP ( CD 45 ) ( NNS years ) ) ( PP ( IN of ) ( NP ( NN age ) ) ) ) ) ) ) ) ( VP ( VBP have ) ( VP ( VBN begun ) ( S ( VP ( TO to ) ( VP ( VB decline ) ( PP ( ADVP ( RB particularly ) ) ( IN for ) ( NP ( JJ white ) ( NNS males ) ) ) ) ) ) ) ) ) ) ) )

Federal researchers said lung-cancer mortality rates for people under 45 years of age have begun to decline particularly for white males


( S ( NP-SBJ ( DT The ) ( NNP National ) ( NNP Cancer ) ( NNP Institute ) ) ( ADVP ( RB also ) ) ( VP ( VBD projected ) ( SBAR ( DT that ) ( S ( NP-SBJ-1 ( NP ( JJ overall ) ( NNP U.S. ) ( NN mortality ) ( NNS rates ) ) ( PP ( IN from ) ( NP ( NN lung ) ( NN cancer ) ) ) ) ( VP ( MD should ) ( VP ( VB begin ) ( S ( VP ( TO to ) ( VP ( VB drop ) ( PP-TMP ( IN in ) ( NP ( JJ several ) ( NNS years ) ) ) ( SBAR-ADV ( IN if ) ( S ( NP-SBJ-2 ( NN cigarette ) ( NN smoking ) ) ( VP ( VBZ continues ) ( S ( VP ( TO to ) ( VP ( VB abate ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

The National Cancer Institute also projected that overall U.S. mortality rates from lung cancer should begin to drop in several years if cigarette smoking continues to abate


( S ( NP-SBJ ( NNP Bush ) ) ( VP ( VBD met ) ( PP-CLR ( IN with ) ( NP ( NP ( ADJP ( JJ South ) ( JJ Korean ) ) ( NNP President ) ( NNP Roh ) ) ( SBAR ( WHNP-1 ( WP who ) ) ( S ( VP ( VBD indicated ) ( SBAR ( IN that ) ( S ( NP-SBJ-2 ( NNP Seoul ) ) ( VP ( VBZ plans ) ( S ( VP ( TO to ) ( ADVP ( RBR further ) ) ( VP ( VB ease ) ( NP ( NN trade ) ( NNS rules ) ) ( S-PRP ( VP ( TO to ) ( VP ( VB ensure ) ( SBAR ( DT that ) ( S ( NP-SBJ ( PRP$ its ) ( NN economy ) ) ( VP ( VBZ becomes ) ( ADJP-PRD ( ADJP ( RB as ) ( JJ open ) ) ( PP ( IN as ) ( NP ( DT the ) ( JJ other ) ( JJ industrialized ) ( NNS nations ) ) ) ) ( PP-TMP ( IN by ) ( NP ( DT the ) ( NNS mid-1990s ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Bush met with South Korean President Roh who indicated that Seoul plans to further ease trade rules to ensure that its economy becomes as open as the other industrialized nations by the mid-1990s


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

Bush assured Roh that the U.S. would stand by its security commitments as long as there is a threat from Communist North Korea


( S ( NP-SBJ ( DT The ) ( NNP Bush ) ( NN administration ) ) ( VP ( VBZ is ) ( VP ( VBG seeking ) ( NP ( NP ( DT an ) ( NN understanding ) ) ( PP ( IN with ) ( NP ( NNP Congress ) ) ) ( SBAR-PRP ( S ( VP ( TO to ) ( VP ( VB ease ) ( NP ( NP ( NNS restrictions ) ) ( PP ( IN on ) ( NP ( NP ( NNP U.S. ) ( NN involvement ) ) ( PP-LOC ( IN in ) ( NP ( NP ( JJ foreign ) ( NNS coups ) ) ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( VP ( MD might ) ( VP ( VB result ) ( PP-CLR ( IN in ) ( NP ( NP ( DT the ) ( NN death ) ) ( PP ( IN of ) ( NP ( NP ( DT a ) ( NN country ) ( POS 's ) ) ( NN leader ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

The Bush administration is seeking an understanding with Congress to ease restrictions on U.S. involvement in foreign coups that might result in the death of a country 's leader


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

A White House spokesman said that while Bush would n't alter a longstanding ban on such involvement there 's a clarification needed on its interpretation


( S ( NP-SBJ ( NP ( NNP India ) ( POS 's ) ) ( NNP Gandhi ) ) ( VP ( VBD called ) ( PP-CLR ( IN for ) ( NP ( JJ parliamentary ) ( NNS elections ) ) ) ( NP-TMP ( IN next ) ( NN month ) ) ) )

India 's Gandhi called for parliamentary elections next month


( S ( NP-SBJ ( NP ( DT The ) ( NN balloting ) ) ( VP ( VBN considered ) ( S ( NP-PRD ( NP ( DT a ) ( NN test ) ) ( PP ( IN for ) ( NP ( NP ( DT the ) ( JJ prime ) ( NN minister ) ) ( CC and ) ( NP ( DT the ) ( JJ ruling ) ( NNP Congress ) ( PRN ( NNP I ) ) ( NNP Party ) ) ) ) ) ) ) ) ( VP ( VBZ comes ) ( PP-TMP ( IN amid ) ( NP ( NP ( NNS charges ) ) ( PP ( IN of ) ( NP ( NP ( JJ inept ) ( NN leadership ) ) ( CC and ) ( NP ( NN government ) ( NN corruption ) ) ) ) ) ) ) )

The balloting considered a test for the prime minister and the ruling Congress I Party comes amid charges of inept leadership and government corruption


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

Gandhi 's family has ruled independent India for all but five years of its 42-year history


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

The Soviet Union abstained from a U.N. General Assembly vote to reject Israel 's credentials


( S ( NP-SBJ-2 ( PRP It ) ) ( VP ( VP ( VBD was ) ( NP-PRD ( NP ( DT the ) ( JJ first ) ( NN time ) ) ( PP-TMP ( IN in ) ( NP ( CD seven ) ( NNS years ) ) ) ( SBAR ( IN that ) ( S ( NP-SBJ ( NNP Moscow ) ) ( VP ( VBZ has ) ( RB n't ) ( VP ( VBN joined ) ( NP ( NP ( NNS efforts ) ) ( VP ( VBN led ) ( PP ( IN by ) ( NP-LGS ( NNP Moslem ) ( NNS nations ) ) ) ) ( SBAR ( S ( VP ( TO to ) ( VP ( VB expel ) ( NP ( NNP Israel ) ) ( PP-CLR ( IN from ) ( NP ( DT the ) ( NN world ) ( NN body ) ) ) ) ) ) ) ) ) ) ) ) ) ) ( CC and ) ( VP ( VBD was ) ( VP ( VBN viewed ) ( PP-CLR ( IN as ) ( NP ( NP ( DT a ) ( NN sign ) ) ( PP ( IN of ) ( NP ( VBG improving ) ( JJ Soviet-Israeli ) ( NNS ties ) ) ) ) ) ) ) ) )

It was the first time in seven years that Moscow has n't joined efforts led by Moslem nations to expel Israel from the world body and was viewed as a sign of improving Soviet-Israeli ties


( S ( NP-SBJ-38 ( NNP Israel ) ) ( VP ( VBD was ) ( VP ( VBN seated ) ( PP ( IN by ) ( NP-LGS ( NP ( DT a ) ( NN vote ) ) ( PP ( IN of ) ( NP ( CD 95-37 ) ) ) ) ) ( PP ( IN with ) ( NP ( CD 15 ) ( NNS abstentions ) ) ) ) ) )

Israel was seated by a vote of 95-37 with 15 abstentions


( S ( NP-SBJ ( JJ Black ) ( NN activist ) ( NNP Walter ) ( NNP Sisulu ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( DT the ) ( NNP African ) ( NNP National ) ( NNP Congress ) ) ( VP ( MD would ) ( RB n't ) ( VP ( VB reject ) ( NP ( NN violence ) ) ( PP-CLR ( IN as ) ( NP ( NP ( DT a ) ( NN way ) ) ( SBAR ( S ( VP ( TO to ) ( VP ( NN pressure ) ( NP ( DT the ) ( ADJP ( JJ South ) ( JJ African ) ) ( NN government ) ) ( PP-CLR ( IN into ) ( NP ( NP ( NNS concessions ) ) ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( VP ( MD might ) ( VP ( VB lead ) ( PP-CLR ( TO to ) ( NP ( NP ( NNS negotiations ) ) ( PP ( IN over ) ( NP ( NN apartheid ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Black activist Walter Sisulu said the African National Congress would n't reject violence as a way to pressure the South African government into concessions that might lead to negotiations over apartheid


( S ( NP-SBJ ( DT The ) ( JJ 77-year-old ) ( NNP Sisulu ) ) ( VP ( VBD was ) ( PP-LOC-PRD ( IN among ) ( NP ( NP ( CD eight ) ( JJ black ) ( JJ political ) ( NNS activists ) ) ( VP ( VBN freed ) ( NP-TMP ( NNP Sunday ) ) ( PP-CLR ( IN from ) ( NP ( NN prison ) ) ) ) ) ) ) )

The 77-year-old Sisulu was among eight black political activists freed Sunday from prison


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

London has concluded that Austrian President Waldheim was n't responsible for the execution of six British commandos in World War II although he probably was aware of the slayings


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

The report by the Defense Ministry also rejected allegations that Britain covered up evidence of Waldheim 's activities as a German army officer


( S ( NP-SBJ ( DT An ) ( JJ international ) ( NN group ) ) ( VP ( VBD approved ) ( NP ( NP ( DT a ) ( JJ formal ) ( NN ban ) ) ( PP ( IN on ) ( NP ( JJ ivory ) ( NN trade ) ) ) ) ( PP ( IN despite ) ( NP ( NP ( NNS objections ) ) ( PP ( IN from ) ( NP ( NP ( ADJP ( JJ southern ) ( JJ African ) ) ( NNS governments ) ) ( SBAR ( WHNP-1 ( WDT which ) ) ( S ( VP ( VBD threatened ) ( S ( VP ( TO to ) ( VP ( VB find ) ( NP ( NP ( JJ alternative ) ( NNS channels ) ) ( PP ( IN for ) ( S-NOM ( VP ( VBG selling ) ( NP ( NN elephant ) ( NNS tusks ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

An international group approved a formal ban on ivory trade despite objections from southern African governments which threatened to find alternative channels for selling elephant tusks


( S ( NP-SBJ ( NP ( DT The ) ( NN move ) ) ( PP ( IN by ) ( NP ( NP ( NP ( DT the ) ( NN Convention ) ) ( PP ( IN on ) ( NP ( NP ( NNP Trade ) ) ( PP ( IN in ) ( NP ( NNP Endangered ) ( NNPS Species ) ) ) ) ) ) ( VP ( VBG meeting ) ( PP-LOC ( IN in ) ( NP ( NNP Switzerland ) ) ) ) ) ) ) ( VP ( VBZ places ) ( NP ( DT the ) ( NN elephant ) ) ( PP-LOC-CLR ( IN on ) ( NP ( DT the ) ( NNS endangered-species ) ( NN list ) ) ) ) )

The move by the Convention on Trade in Endangered Species meeting in Switzerland places the elephant on the endangered-species list


( S ( NP-SBJ ( NP ( DT An ) ( NN assassin ) ) ( PP-LOC ( IN in ) ( NP ( NNP Colombia ) ) ) ) ( VP ( VBD killed ) ( NP ( DT a ) ( JJ federal ) ( NN judge ) ) ( PP-LOC ( IN on ) ( NP ( DT a ) ( NNP Medellin ) ( NN street ) ) ) ) )

An assassin in Colombia killed a federal judge on a Medellin street


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

An anonymous caller to a local radio station said cocaine traffickers had slain the magistrate in retaliation for the extraditions of Colombians wanted on drug charges in the U.S.


( S ( S ( NP-SBJ ( JJ Libyan ) ( NN leader ) ( NNP Gadhafi ) ) ( VP ( VBN met ) ( PP-CLR ( IN with ) ( NP ( NP ( NNP Egypt ) ( POS 's ) ) ( NNP President ) ( NNP Mubarak ) ) ) ) ) ( CC and ) ( S ( NP-SBJ-1 ( DT the ) ( CD two ) ( NNS officials ) ) ( VP ( VBD pledged ) ( S ( VP ( TO to ) ( VP ( VB respect ) ( NP ( NP ( DT each ) ( JJ other ) ( POS 's ) ) ( NNS laws ) ( NN security ) ( CC and ) ( NN stability ) ) ) ) ) ) ) )

Libyan leader Gadhafi met with Egypt 's President Mubarak and the two officials pledged to respect each other 's laws security and stability


( S ( NP-SBJ ( PRP They ) ) ( VP ( VBD stopped ) ( ADVP-CLR ( RB short ) ( PP ( IN of ) ( S-NOM ( VP ( VBG resuming ) ( NP ( NP ( JJ diplomatic ) ( NNS ties ) ) ( VP ( VBN severed ) ( PP-TMP ( IN in ) ( NP ( CD 1979 ) ) ) ) ) ) ) ) ) ) )

They stopped short of resuming diplomatic ties severed in 1979


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

The reconciliation talks in the Libyan desert town of Tobruk followed a meeting Monday in the Egyptian resort of Mersa Metruh


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

Macmillan Inc. said it plans a public offering of 8.4 million shares of its Berlitz International Inc. unit at 19 to 21 a share


( S ( NP-SBJ-1 ( NP ( DT The ) ( NN offering ) ) ( PP ( IN for ) ( NP ( DT the ) ( NN language ) ( NN school ) ( NN unit ) ) ) ) ( VP ( VBD was ) ( VP ( VBN announced ) ( PP ( IN by ) ( NP-LGS ( NP ( NNP Robert ) ( NNP Maxwell ) ) ( NP ( NP ( NP ( NN chairman ) ) ( CC and ) ( NP ( JJ chief ) ( NN executive ) ( NN officer ) ) ) ( PP ( IN of ) ( NP ( NP ( JJ London-based ) ( NNP Maxwell ) ( NNP Communication ) ( NNP Corp. ) ) ( SBAR ( WHNP-2 ( WDT which ) ) ( S ( VP ( VBZ owns ) ( NP ( NNP Macmillan ) ) ) ) ) ) ) ) ) ) ) ) )

The offering for the language school unit was announced by Robert Maxwell chairman and chief executive officer of London-based Maxwell Communication Corp. which owns Macmillan


( S ( SBAR-TMP ( IN After ) ( S ( NP-SBJ-1 ( DT the ) ( NN offering ) ) ( VP ( VBZ is ) ( VP ( VBN completed ) ) ) ) ) ( NP-SBJ ( NNP Macmillan ) ) ( VP ( MD will ) ( VP ( VB own ) ( NP ( NP ( QP ( IN about ) ( CD 56 ) ) ( NN % ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( NNP Berlitz ) ( JJ common ) ( NN stock ) ) ( ADJP ( JJ outstanding ) ) ) ) ) ) ) )

After the offering is completed Macmillan will own about 56 % of the Berlitz common stock outstanding


( S ( S ( NP-SBJ-1 ( QP ( CD Five ) ( CD million ) ) ( NNS shares ) ) ( VP ( MD will ) ( VP ( VB be ) ( VP ( VBN offered ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( NNP U.S. ) ) ) ) ) ) ) ( CC and ) ( S ( NP-SBJ-2 ( QP ( CD 3.4 ) ( CD million ) ) ( JJ additional ) ( NNS shares ) ) ( VP ( MD will ) ( VP ( VB be ) ( VP ( VBN offered ) ( PP-MNR ( IN in ) ( NP ( JJ concurrent ) ( JJ international ) ( NNS offerings ) ) ) ( PP-LOC ( IN outside ) ( NP ( DT the ) ( NNP U.S. ) ) ) ) ) ) ) )

Five million shares will be offered in the U.S. and 3.4 million additional shares will be offered in concurrent international offerings outside the U.S.


( S ( NP-SBJ ( NNP Goldman ) ( NNP Sachs ) ( CC & ) ( NNP Co. ) ) ( VP ( MD will ) ( VP ( VB manage ) ( NP ( DT the ) ( NN offering ) ) ) ) )

Goldman Sachs & Co. will manage the offering


( S ( NP-SBJ ( NNP Macmillan ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ-1 ( NNP Berlitz ) ) ( VP ( VBZ intends ) ( S ( VP ( TO to ) ( VP ( VB pay ) ( NP ( NP ( JJ quarterly ) ( NNS dividends ) ) ( PP ( IN on ) ( NP ( DT the ) ( NN stock ) ) ) ) ) ) ) ) ) ) ) )

Macmillan said Berlitz intends to pay quarterly dividends on the stock


( S ( NP-SBJ ( DT The ) ( NN company ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ-1 ( PRP it ) ) ( VP ( VBZ expects ) ( S ( VP ( TO to ) ( VP ( VB pay ) ( NP ( NP ( DT the ) ( JJ first ) ( NN dividend ) ) ( PP ( IN of ) ( NP ( NP ( CD 12.5 ) ( NNS cents ) ) ( NP-SBJ ( DT a ) ( NN share ) ) ) ) ) ( PP-TMP ( IN in ) ( NP ( DT the ) ( CD 1990 ) ( JJ first ) ( NN quarter ) ) ) ) ) ) ) ) ) ) )

The company said it expects to pay the first dividend of 12.5 cents a share in the 1990 first quarter


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

Berlitz will borrow an amount equal to its expected net proceeds from the offerings plus 50 million in connection with a credit agreement with lenders


( S ( S-TPC-1 ( NP-SBJ ( DT The ) ( JJ total ) ( NN borrowing ) ) ( VP ( MD will ) ( VP ( VB be ) ( NP-PRD ( QP ( IN about ) ( CD 208 ) ( CD million ) ) ) ) ) ) ( NP-SBJ ( DT the ) ( NN company ) ) ( VP ( VBD said ) ) )

The total borrowing will be about 208 million the company said


( S ( NP-SBJ-1 ( NP ( NNS Proceeds ) ) ( PP ( IN from ) ( NP ( NP ( DT the ) ( NNS borrowings ) ) ( PP ( IN under ) ( NP ( DT the ) ( NN credit ) ( NN agreement ) ) ) ) ) ) ( VP ( MD will ) ( VP ( VB be ) ( VP ( VBN used ) ( S-CLR ( VP ( VP ( TO to ) ( VP ( VB pay ) ( NP ( DT an ) ( ADJP ( QP ( CD 80 ) ( CD million ) ) ) ( NN cash ) ( NN dividend ) ) ( PP-DTV ( TO to ) ( NP ( NNP Macmillan ) ) ) ) ) ( CC and ) ( VP ( TO to ) ( VP ( VB lend ) ( NP ( NP ( DT the ) ( NN remainder ) ) ( PP ( IN of ) ( NP ( QP ( IN about ) ( CD 128 ) ( CD million ) ) ) ) ) ( PP-DTV ( TO to ) ( NP ( NNP Maxwell ) ( NNPS Communications ) ) ) ( PP ( IN in ) ( NP ( NP ( NN connection ) ) ( PP ( IN with ) ( NP ( DT a ) ( JJ promissory ) ( NN note ) ) ) ) ) ) ) ) ) ) ) ) )

Proceeds from the borrowings under the credit agreement will be used to pay an 80 million cash dividend to Macmillan and to lend the remainder of about 128 million to Maxwell Communications in connection with a promissory note


( S ( NP-SBJ-1 ( NP ( NNS Proceeds ) ) ( PP ( IN from ) ( NP ( DT the ) ( NN offering ) ) ) ) ( VP ( MD will ) ( VP ( VB be ) ( VP ( VBN used ) ( S-CLR ( VP ( TO to ) ( VP ( VB repay ) ( NP ( NNS borrowings ) ) ( PP-LOC ( IN under ) ( NP ( NP ( DT the ) ( JJ short-term ) ( NNS parts ) ) ( PP ( IN of ) ( NP ( DT a ) ( NN credit ) ( NN agreement ) ) ) ) ) ) ) ) ) ) ) )

Proceeds from the offering will be used to repay borrowings under the short-term parts of a credit agreement


( S ( NP-SBJ ( NP ( NNP Berlitz ) ) ( SBAR ( WHNP-2 ( WDT which ) ) ( S ( VP ( VBZ is ) ( VP ( VBN based ) ( PP-LOC ( IN in ) ( NP ( NP ( NNP Princeton ) ) ( NP ( NNP N.J. ) ) ) ) ) ) ) ) ) ( VP ( VBZ provides ) ( NP ( NP ( NN language ) ( NN instruction ) ) ( CC and ) ( NP ( NN translation ) ( NNS services ) ) ) ( PP-MNR ( IN through ) ( NP ( NP ( QP ( JJR more ) ( IN than ) ( CD 260 ) ) ( NN language ) ( NNS centers ) ) ( PP-LOC ( IN in ) ( NP ( CD 25 ) ( NNS countries ) ) ) ) ) ) )

Berlitz which is based in Princeton N.J. provides language instruction and translation services through more than 260 language centers in 25 countries


( S ( PP-TMP ( IN In ) ( NP ( DT the ) ( JJ past ) ( CD five ) ( NNS years ) ) ) ( NP-SBJ ( NP ( QP ( JJR more ) ( IN than ) ( CD 68 ) ) ( NN % ) ) ( PP ( IN of ) ( NP ( PRP$ its ) ( NNS sales ) ) ) ) ( VP ( VBP have ) ( VP ( VBN been ) ( PP-LOC-PRD ( IN outside ) ( NP ( DT the ) ( NNP U.S. ) ) ) ) ) )

In the past five years more than 68 % of its sales have been outside the U.S.


( S ( NP-SBJ ( NNP Macmillan ) ) ( VP ( VBZ has ) ( VP ( VBN owned ) ( NP ( NNP Berlitz ) ) ( PP-TMP ( IN since ) ( NP ( CD 1966 ) ) ) ) ) )

Macmillan has owned Berlitz since 1966


( S ( PP-TMP ( IN In ) ( NP ( NP ( DT the ) ( JJ first ) ( CD six ) ( NNS months ) ) ( PP ( IN of ) ( NP ( DT this ) ( NN year ) ) ) ) ) ( NP-SBJ ( NNP Berlitz ) ) ( VP ( VBD posted ) ( NP ( NP ( JJ net ) ( NN income ) ) ( PP ( IN of ) ( NP ( QP ( CD 7.6 ) ( CD million ) ) ) ) ( PP ( IN on ) ( NP ( NP ( NNS sales ) ) ( PP ( IN of ) ( NP ( QP ( CD 106.2 ) ( CD million ) ) ) ) ) ) ) ( PP ( VBN compared ) ( PP ( IN with ) ( NP ( NP ( JJ net ) ( NN income ) ) ( PP ( IN of ) ( NP ( QP ( CD 8.2 ) ( CD million ) ) ) ) ( PP ( IN on ) ( NP ( NP ( NNS sales ) ) ( PP ( IN of ) ( NP ( QP ( CD 90.6 ) ( CD million ) ) ) ) ) ) ) ) ) ) )

In the first six months of this year Berlitz posted net income of 7.6 million on sales of 106.2 million compared with net income of 8.2 million on sales of 90.6 million


( S ( NP-SBJ-1 ( NP ( NNP G. ) ( NNP William ) ( NNP Ryan ) ) ( NP ( NP ( NN president ) ) ( PP ( IN of ) ( NP ( NNP Post-Newsweek ) ( NNPS Stations ) ) ) ) ) ( VP ( VBD was ) ( VP ( VBN named ) ( S ( NP-PRD ( NP ( JJ chief ) ( NN executive ) ( NN officer ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( NN unit ) ) ( PP ( IN of ) ( NP ( DT this ) ( NNS media ) ( NN company ) ) ) ) ) ) ) ( ADJP ( JJ effective ) ( NP-TMP ( NNP Jan. ) ( CD 1 ) ) ) ) ) )

G. William Ryan president of Post-Newsweek Stations was named chief executive officer of the unit of this media company effective Jan. 1


( S ( S-TPC-3 ( NP-SBJ ( PRP He ) ) ( VP ( MD will ) ( VP ( VB succeed ) ( NP ( NP ( NNP Joel ) ( NNP Chaseman ) ) ( SBAR ( WHNP-1 ( WP who ) ) ( S ( VP ( MD will ) ( VP ( VP ( VB remain ) ( NP-PRD ( NP ( DT a ) ( NN vice ) ( NN president ) ) ( PP ( IN of ) ( NP ( DT the ) ( NN company ) ) ) ) ) ( CC and ) ( VP ( VB continue ) ( S ( VP ( TO to ) ( VP ( VB represent ) ( NP ( NNP Post-Newsweek ) ( NNS stations ) ) ( PP-LOC ( IN in ) ( NP ( JJ several ) ( NN industry ) ( NNS organizations ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ( NP-SBJ ( DT the ) ( NN company ) ) ( VP ( VBD said ) ) )

He will succeed Joel Chaseman who will remain a vice president of the company and continue to represent Post-Newsweek stations in several industry organizations the company said


( S ( NP-SBJ ( NNP MLX ) ( NNP Corp. ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBD reached ) ( NP ( NP ( DT a ) ( JJ preliminary ) ( NN agreement ) ) ( PP ( IN with ) ( NP ( NP ( JJ senior ) ( NNS lenders ) ) ( PP ( TO to ) ( NP ( PRP$ its ) ( NN refrigeration ) ( CC and ) ( NN air-conditioning ) ( NN group ) ) ) ) ) ( S-1 ( VP ( TO to ) ( VP ( VB restructure ) ( NP ( NP ( DT the ) ( QP ( CD 188.5 ) ( CD million ) ) ) ( PP ( IN of ) ( NP ( NN credit ) ( NNS facilities ) ) ) ( SBAR ( S ( NP-SBJ ( DT the ) ( NNS lenders ) ) ( VP ( VBP provide ) ( PP-CLR ( TO to ) ( NP ( DT the ) ( NN group ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

MLX Corp. said it reached a preliminary agreement with senior lenders to its refrigeration and air-conditioning group to restructure the 188.5 million of credit facilities the lenders provide to the group


( S ( NP-SBJ ( NP ( NNP MLX ) ) ( SBAR ( WHNP-4 ( WDT which ) ) ( S ( ADVP ( RB also ) ) ( VP ( VBZ makes ) ( NP ( NN aircraft ) ( CC and ) ( JJ heavy-duty ) ( NN truck ) ( NNS parts ) ) ) ) ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ-1 ( DT the ) ( NN debt ) ) ( VP ( VBD was ) ( VP ( VBN accumulated ) ( PP-TMP ( IN during ) ( NP ( NP ( PRP$ its ) ( NN acquisition ) ) ( PP ( IN of ) ( NP ( NP ( CD nine ) ( NNS businesses ) ) ( SBAR ( WHNP-3 ( WDT that ) ) ( S ( VP ( VBP make ) ( PRT ( RP up ) ) ( NP ( NP ( DT the ) ( NN group ) ) ( S ( NP-SBJ-2 ( NP ( DT the ) ( JJS biggest ) ( NN portion ) ) ( WHPP ( IN of ) ( WHNP ( WDT which ) ) ) ) ( VP ( VBD was ) ( VP ( VBN related ) ( PP-CLR ( TO to ) ( NP ( NP ( DT the ) ( CD 1986 ) ( NN purchase ) ) ( PP ( IN of ) ( NP ( DT a ) ( NNP Hillman ) ( NNP Co. ) ( NN unit ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

MLX which also makes aircraft and heavy-duty truck parts said the debt was accumulated during its acquisition of nine businesses that make up the group the biggest portion of which was related to the 1986 purchase of a Hillman Co. unit


( S ( S-TPC-1 ( PP ( IN Among ) ( NP ( JJ other ) ( NNS things ) ) ) ( NP-SBJ ( DT the ) ( VBN restructured ) ( NNS facilities ) ) ( VP ( MD will ) ( VP ( ADVP ( RB substantially ) ) ( VB reduce ) ( NP ( NP ( NP ( DT the ) ( NN group ) ( POS 's ) ) ( VBN required ) ( NN amortization ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( NN term ) ( NN loan ) ( NN portion ) ) ( PP ( IN of ) ( NP ( DT the ) ( NN credit ) ( NNS facilities ) ) ) ) ) ) ( PP-TMP ( IN through ) ( NP ( NNP September ) ( CD 1992 ) ) ) ) ) ) ( NP-SBJ ( NNP MLX ) ) ( VP ( VBD said ) ) )

Among other things the restructured facilities will substantially reduce the group 's required amortization of the term loan portion of the credit facilities through September 1992 MLX said


( S ( NP-SBJ-2 ( NP ( JJ Certain ) ( NNS details ) ) ( PP ( IN of ) ( NP ( DT the ) ( VBN restructured ) ( NNS facilities ) ) ) ) ( VP ( VBP remain ) ( S-CLR ( VP ( TO to ) ( VP ( VB be ) ( VP ( VBN negotiated ) ) ) ) ) ) )

Certain details of the restructured facilities remain to be negotiated


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

The agreement is subject to completion of a definitive amendment and appropriate approvals


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

William P. Panny MLX chairman and chief executive said the pact will provide MLX with the additional time and flexibility necessary to complete the restructuring of the company 's capital structure


( S ( NP-SBJ ( NNP MLX ) ) ( VP ( VBZ has ) ( VP ( VBN filed ) ( NP ( NP ( DT a ) ( NN registration ) ( NN statement ) ) ) ( PP-CLR ( IN with ) ( NP ( DT the ) ( NNPS Securities ) ( CC and ) ( NNP Exchange ) ( NNP Commission ) ) ) ( VP-2 ( VBG covering ) ( NP ( NP ( DT a ) ( VBN proposed ) ( NN offering ) ) ( PP ( IN of ) ( NP ( NP ( QP ( CD 120 ) ( CD million ) ) ) ( PP ( IN in ) ( NP ( JJ long-term ) ( JJ senior ) ( VBN subordinated ) ( NNS notes ) ( CC and ) ( NNS warrants ) ) ) ) ) ) ) ) ) )

MLX has filed a registration statement with the Securities and Exchange Commission covering a proposed offering of 120 million in long-term senior subordinated notes and warrants


( S ( SBAR-TMP ( WHADVP-2 ( WRB When ) ) ( S ( NP-SBJ-1 ( NNP Nucor ) ( NNP Corp. ) ) ( VP ( VBZ begins ) ( S ( VP ( VBG shipping ) ( NP ( NP ( NN steel ) ) ( PP ( IN from ) ( NP ( NP ( DT the ) ( NN world ) ( POS 's ) ) ( JJ first ) ( JJ thin-slab ) ( NN plant ) ) ) ) ( NP-TMP ( DT this ) ( NN month ) ) ) ) ) ) ) ( NP-SBJ-3 ( PRP it ) ) ( VP ( MD will ) ( VP ( VB begin ) ( S ( VP ( VBG testing ) ( NP ( NP ( DT the ) ( JJ competitive ) ( NN mettle ) ) ( PP ( IN of ) ( NP ( PRP$ its ) ( JJ giant ) ( NNS competitors ) ) ) ) ) ) ) ) )

When Nucor Corp. begins shipping steel from the world 's first thin-slab plant this month it will begin testing the competitive mettle of its giant competitors


( S ( NP-SBJ ( NP ( DT The ) ( JJ new ) ( NN technology ) ) ( SBAR ( WHNP-1 ( WDT which ) ) ( S ( VP ( VBZ creates ) ( NP ( NP ( DT a ) ( ADJP ( RB very ) ( JJ thin ) ) ( NN piece ) ) ( PP ( IN of ) ( NP ( NN steel ) ) ) ) ) ) ) ) ( VP ( ADVP-MNR ( RB radically ) ) ( VBZ reduces ) ( NP ( NP ( DT the ) ( NNS costs ) ) ( PP ( IN of ) ( S-NOM ( VP ( VBG making ) ( NP ( JJ flat-rolled ) ( NNS sheets ) ) ) ) ) ) ) )

The new technology which creates a very thin piece of steel radically reduces the costs of making flat-rolled sheets


( S ( NP-SBJ ( NP ( DT An ) ( JJ ebullient ) ( NNP Kenneth ) ( NNP Iverson ) ) ( NP ( NP ( NNP Nucor ) ( POS 's ) ) ( NN chairman ) ) ) ( VP ( VBZ says ) ( SBAR ( S ( NP-SBJ ( NP ( DT the ) ( NN company ) ( POS 's ) ) ( NN plant ) ) ( ADVP ( RB eventually ) ) ( VP ( MD will ) ( VP ( VB make ) ( NP ( NP ( DT a ) ( NN ton ) ) ( PP ( IN of ) ( NP ( NN steel ) ) ) ) ( PP ( IN in ) ( NP ( CD 1.5 ) ( NN man ) ( NNS hours ) ) ) ( PP ( VBN compared ) ( PP ( IN with ) ( NP ( NP ( QP ( CD four ) ( TO to ) ( CD six ) ) ( NN man ) ( NNS hours ) ) ( PP-LOC ( IN at ) ( NP ( DT a ) ( JJ conventional ) ( NN mill ) ) ) ) ) ) ) ) ) ) ) )

An ebullient Kenneth Iverson Nucor 's chairman says the company 's plant eventually will make a ton of steel in 1.5 man hours compared with four to six man hours at a conventional mill


( S ( S-TPC-1 ( NP-SBJ ( PRP We ) ) ( VP ( VBP 've ) ( VP ( VBD had ) ( S ( NP-SBJ ( NP ( DT the ) ( NNPS Russians ) ( CC and ) ( NNPS Chinese ) ) ( CC and ) ( NP ( NP ( NNS people ) ) ( PP ( IN from ) ( NP ( NNP India ) ) ) ) ) ( VP ( VBG visiting ) ( NP ( PRP us ) ) ) ) ) ) ) ( NP-SBJ ( NNP Mr. ) ( NNP Iverson ) ) ( VP ( VBZ beams ) ) )

We 've had the Russians and Chinese and people from India visiting us Mr. Iverson beams


( S ( NP-SBJ ( NP ( NN Everyone ) ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( NN world ) ) ) ) ( VP ( VBZ is ) ( VP ( VBG watching ) ( NP ( PRP us ) ) ( ADVP-MNR ( RB very ) ( RB closely ) ) ) ) )

Everyone in the world is watching us very closely


( NP ( NP ( RB Especially ) ( PRP$ his ) ( NNS neighbors ) ) ( NP ( DT the ) ( JJ major ) ( NNP U.S. ) ( NNS steelmakers ) ) )

Especially his neighbors the major U.S. steelmakers


( S ( ADVP ( RB Already ) ) ( NP-SBJ-1 ( NP ( NNP USX ) ( NNP Corp. ) ) ( CC and ) ( NP ( NNP Armco ) ( NNP Inc. ) ) ) ( VP ( VBP are ) ( VP ( VBG studying ) ( NP ( NP ( NNP Nucor ) ( POS 's ) ) ( NN technology ) ) ( S-PRP ( VP ( TO to ) ( VP ( VB see ) ( SBAR-ADV ( IN if ) ( S ( NP-SBJ ( PRP they ) ) ( VP ( MD can ) ( VP ( VB adopt ) ( NP ( PRP it ) ) ) ) ) ) ) ) ) ) ) )

Already USX Corp. and Armco Inc. are studying Nucor 's technology to see if they can adopt it


( SINV ( VP ( VBZ Says ) ) ( NP-SBJ ( NP ( DT the ) ( JJ chief ) ( NN executive ) ( NN officer ) ) ( PP ( IN of ) ( NP ( DT a ) ( JJ major ) ( NNP Midwest ) ( NN steel ) ( NN company ) ) ) ) ( S-1 ( NP-SBJ ( PRP It ) ) ( VP ( VBZ 's ) ( ADJP-PRD ( RB damn ) ( JJ worrisome ) ) ) ) )

Says the chief executive officer of a major Midwest steel company It 's damn worrisome


( S ( NP-SBJ-2 ( DT The ) ( JJ once-staid ) ( NN steel ) ( NN industry ) ) ( VP ( VBZ is ) ( VP ( IN about ) ( S ( VP ( TO to ) ( VP ( VB be ) ( VP ( VBN turned ) ( S ( ADJP-PRD ( RB topsy-turvy ) ) ) ( PP ( IN by ) ( NP-LGS ( DT a ) ( NNS 1990s ) ( NN technology ) ( NN revolution ) ) ) ) ) ) ) ) ) )

The once-staid steel industry is about to be turned topsy-turvy by a 1990s technology revolution


( S ( NP-SBJ ( ADJP ( JJ New ) ( JJ efficient ) ( CC and ) ( JJ sophisticated ) ) ( NNS processes ) ) ( VP ( VBP make ) ( S ( NP-SBJ ( NP ( PRP it ) ) ) ( ADJP-PRD ( RBR easier ) ) ( SBAR-2 ( IN for ) ( S ( NP-SBJ ( JJR smaller ) ( ADJP ( RBR less ) ( JJ cash-rich ) ) ( NNS companies ) ) ( VP ( TO to ) ( VP ( VB make ) ( NP ( NN steel ) ) ( PP-MNR ( IN at ) ( NP ( NP ( DT a ) ( NN fraction ) ) ( PP ( IN of ) ( SBAR-NOM ( WHNP-1 ( WP what ) ) ( S ( NP-SBJ ( NNP Big ) ( NNP Steel ) ) ( VP ( VBD paid ) ( ADVP-TMP ( NP ( NNS decades ) ) ( RB ago ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

New efficient and sophisticated processes make it easier for smaller less cash-rich companies to make steel at a fraction of what Big Steel paid decades ago


( S ( NP-SBJ ( PRP It ) ) ( ADVP ( RB also ) ) ( VP ( VBZ enables ) ( S ( NP-SBJ ( NNS minimills ) ) ( ADVP ( RB finally ) ) ( VP ( TO to ) ( VP ( VB get ) ( NP ( NP ( DT a ) ( NN toehold ) ) ( PP-LOC ( IN in ) ( NP ( NP ( DT the ) ( JJ flat-rolled ) ( NN steel ) ( NN market ) ) ( NP ( NP ( DT the ) ( JJ major ) ( NNS steelmakers ) ( POS ' ) ) ( ADJP ( JJS largest ) ( ADJP ( RBS most ) ( JJ prized ) ) ( CC and ) ( ADJP ( PP ( IN until ) ( ADVP-TMP ( RB now ) ) ) ( JJ untouchable ) ) ) ( NN market ) ) ) ) ) ) ) ) ) )

It also enables minimills finally to get a toehold in the flat-rolled steel market the major steelmakers ' largest most prized and until now untouchable market


( S ( CC But ) ( NP-SBJ ( JJ such ) ( JJ thin-slab ) ( NN technology ) ) ( VP ( VBZ is ) ( NP-PRD ( RB only ) ( DT the ) ( NN beginning ) ) ) )

But such thin-slab technology is only the beginning


( S ( NP-SBJ ( JJ Eager ) ( NNS engineers ) ) ( VP ( VBP espouse ) ( NP ( NP ( NP ( NN direct-steelmaking ) ) ( CC and ) ( NP ( JJ direct ) ( NN casting ) ) ) ( SBAR ( WHNP-1 ( WDT which ) ) ( S ( PP-TMP ( IN by ) ( NP ( NP ( DT the ) ( NN end ) ) ( PP ( IN of ) ( NP ( DT the ) ( NNS 1990s ) ) ) ) ) ( VP ( MD will ) ( VP ( VB enable ) ( NP ( NP ( NN production ) ) ( PP ( IN without ) ( NP ( NP ( NN coke ) ( NNS ovens ) ) ( CC and ) ( NP ( NN blast ) ( NNS furnaces ) ) ) ) ) ) ) ) ) ) ) )

Eager engineers espouse direct-steelmaking and direct casting which by the end of the 1990s will enable production without coke ovens and blast furnaces


( S ( NP-SBJ-1 ( DT Those ) ( JJ massive ) ( NNS structures ) ) ( SBAR-ADV ( IN while ) ( S ( VP ( VBG posing ) ( NP ( UCP ( NN cost ) ( CC and ) ( JJ environmental ) ) ( NNS headaches ) ) ) ) ) ( VP ( ADVP-MNR ( RB effectively ) ) ( VBD locked ) ( PRT ( RP out ) ) ( NP ( NP ( DT all ) ) ( PP ( CC but ) ( NP ( JJ deep-pocketed ) ( NNS giants ) ) ) ) ( PP-CLR ( IN from ) ( NP ( NN steelmaking ) ) ) ) )

Those massive structures while posing cost and environmental headaches effectively locked out all but deep-pocketed giants from steelmaking


( SINV ( S-TPC-3 ( NP-SBJ ( EX There ) ) ( VP ( VBZ 's ) ( NP-PRD ( NP ( DT a ) ( NN revolution ) ) ( ADVP ( RB ahead ) ( PP ( IN of ) ( NP ( PRP us ) ) ) ) ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( VP ( MD will ) ( ADVP ( RB ultimately ) ) ( VP ( VB change ) ( NP ( NP ( DT the ) ( NN way ) ) ( SBAR ( S ( NP-SBJ ( PRP we ) ) ( VP ( VBP market ) ( CC and ) ( VBP distribute ) ( NP ( NN steel ) ) ) ) ) ) ) ) ) ) ) ) ) ( VP ( VBZ says ) ) ( NP-SBJ ( NP ( NNP William ) ( NNP Dennis ) ) ( NP ( NP ( NN vice ) ( NN president ) ) ( NP ( NN manufacturing ) ( CC and ) ( NN technology ) ) ( PP ( IN for ) ( NP ( DT the ) ( NNP American ) ( NNP Iron ) ( NNP Ore ) ( CC and ) ( NNP Steel ) ( NNP Institute ) ) ) ) ) )

There 's a revolution ahead of us that will ultimately change the way we market and distribute steel says William Dennis vice president manufacturing and technology for the American Iron Ore and Steel Institute


( S ( NP-SBJ ( PRP It ) ) ( VP ( VBZ is ) ( RB n't ) ( SBAR-PRD ( RB that ) ( S ( NP-SBJ ( JJ major ) ( NNS steelmakers ) ) ( VP ( VBP have ) ( VP ( ADVP-MNR ( RB blithely ) ) ( VBN ignored ) ( NP ( JJ high ) ( NN technology ) ) ) ) ) ) ) )

It is n't that major steelmakers have blithely ignored high technology


( S ( PP ( IN In ) ( NP ( NN fact ) ) ) ( NP-SBJ-1 ( PRP they ) ) ( VP ( VBP 've ) ( VP ( VBN spent ) ( NP ( NP ( NNS billions ) ) ( PP ( IN of ) ( NP ( NNS dollars ) ) ) ) ( S-PRP ( VP ( TO to ) ( VP ( VB boost ) ( NP ( NP ( DT the ) ( NN percentage ) ) ( PP ( IN of ) ( NP ( ADJP ( RB continously ) ( VBN cast ) ) ( NN steel ) ) ) ) ( PP-DIR ( TO to ) ( NP ( CD 60.9 ) ( NN % ) ) ( PP-TMP ( IN in ) ( NP ( CD 1988 ) ) ) ) ( PP-DIR ( IN from ) ( NP ( CD 39.6 ) ( NN % ) ) ( ADVP-TMP ( NP ( CD five ) ( NNS years ) ) ( RB before ) ) ) ) ) ) ) ) )

In fact they 've spent billions of dollars to boost the percentage of continously cast steel to 60.9 % in 1988 from 39.6 % five years before


( S ( ADVP ( RB Moreover ) ) ( S ( NP-SBJ-1 ( PRP$ their ) ( NN balance ) ( NNS sheets ) ) ( VP ( VBP are ) ( ADJP-PRD-2 ( JJ rich ) ( PP ( IN with ) ( NP ( NN diversity ) ) ) ) ) ) ( S ( NP-SBJ=1 ( PRP$ their ) ( JJ old ) ( NNS plants ) ) ( ADJP-PRD=2 ( JJ shuttered ) ) ) ( CC and ) ( S ( NP-SBJ=1 ( NN work ) ( NNS forces ) ) ( ADJP-PRD=2 ( JJ lean ) ) ) )

Moreover their balance sheets are rich with diversity their old plants shuttered and work forces lean


( S ( CC But ) ( NP-SBJ ( DT that ) ) ( VP ( MD wo ) ( RB n't ) ( VP ( VB suffice ) ) ) )

But that wo n't suffice