( S ( NP-SBJ ( NNP Great ) ( NNP Western ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBD had ) ( NP ( NP ( DT a ) ( JJ sharp ) ( NN increase ) ) ( PP-LOC ( IN in ) ( NP ( NNS margins ) ) ) ) ( PP-TMP ( IN in ) ( NP ( DT the ) ( JJ recent ) ( JJ third ) ( NN quarter ) ) ) ) ) ) ) )

Great Western said it had a sharp increase in margins in the recent third quarter


( S ( NP-SBJ ( NNS Margins ) ) ( VP ( VBP are ) ( NP-PRD ( NP ( DT the ) ( NN difference ) ) ( PP ( IN between ) ( NP ( NP ( NP ( DT the ) ( NN yield ) ) ( PP ( IN on ) ( NP ( NP ( DT the ) ( NN company ) ( POS 's ) ) ( VBG earning ) ( NNS assets ) ) ) ) ( CC and ) ( NP ( NP ( PRP$ its ) ( JJ own ) ( NN cost ) ) ( PP ( IN of ) ( NP ( NNS funds ) ) ) ) ) ) ) ) )

Margins are the difference between the yield on the company 's earning assets and its own cost of funds


( S ( S-TPC-1 ( CC But ) ( NP-SBJ ( NP ( NP ( DT a ) ( NN reduction ) ) ( PP-LOC ( IN in ) ( NP ( NP ( JJ one-time ) ( NNS gains ) ) ( PP ( IN on ) ( NP ( NP ( DT the ) ( NN sale ) ) ( PP ( IN of ) ( NP ( JJ various ) ( NNS assets ) ) ) ) ) ) ) ) ( CC and ) ( NP ( NP ( DT an ) ( NN increase ) ) ( PP-LOC ( IN in ) ( NP ( NP ( NP ( DT the ) ( NN company ) ( POS 's ) ) ( NN provision ) ) ( PP ( IN for ) ( NP ( NN loan ) ( NNS losses ) ) ) ) ) ) ) ( VP ( VBD held ) ( PRT ( RP down ) ) ( NP ( DT the ) ( NNS earnings ) ( NN gain ) ) ) ) ( NP-SBJ ( DT the ) ( NN company ) ) ( VP ( VBD said ) ) )

But a reduction in one-time gains on the sale of various assets and an increase in the company 's provision for loan losses held down the earnings gain the company said


( S ( NP-SBJ-1 ( NP ( NP ( NNP Great ) ( NNP Western ) ( POS 's ) ) ( NN provision ) ) ( PP ( IN for ) ( NP ( NN loan ) ( NNS losses ) ) ) ) ( VP ( VBD was ) ( VP ( VBN increased ) ( PP-DIR ( TO to ) ( NP ( NP ( QP ( CD 27.9 ) ( CD million ) ) ) ( PP ( IN for ) ( NP ( DT the ) ( JJ recent ) ( NN quarter ) ) ) ( PP ( VBN compared ) ( PP ( IN with ) ( NP ( NP ( QP ( CD 21.8 ) ( CD million ) ) ) ( ADVP-TMP ( NP ( DT a ) ( NN year ) ) ( IN ago ) ) ) ) ) ) ) ( PP-PRP ( RB primarily ) ( IN as ) ( NP ( NP ( DT a ) ( NN result ) ) ( PP ( IN of ) ( NP ( NP ( VBN continued ) ( NN weakness ) ) ( PP-LOC ( IN in ) ( NP ( NP ( JJ various ) ( UCP ( JJ commercial ) ( CC and ) ( RB multifamily ) ) ( JJ real ) ( NN estate ) ( NNS markets ) ) ( PP-LOC ( IN outside ) ( NP ( NNP California ) ) ) ) ) ) ) ) ) ) ) )

Great Western 's provision for loan losses was increased to 27.9 million for the recent quarter compared with 21.8 million a year ago primarily as a result of continued weakness in various commercial and multifamily real estate markets outside California


( S ( PP ( IN For ) ( NP ( DT the ) ( CD nine ) ( NNS months ) ) ) ( NP-SBJ ( NNP Great ) ( NNP Western ) ) ( VP ( VBD posted ) ( NP ( NP ( NN net ) ) ( PP ( IN of ) ( NP ( NP ( NP ( QP ( CD 177.5 ) ( CD million ) ) ) ( CC or ) ( NP ( NP ( CD 1.37 ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ( NP ( NP ( DT a ) ( ADJP ( CD 5.9 ) ( NN % ) ) ( NN decline ) ) ( PP ( IN from ) ( NP ( NP ( NP ( QP ( CD 188.7 ) ( CD million ) ) ) ( CC or ) ( NP ( NP ( CD 1.48 ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ( PP-TMP ( IN in ) ( NP ( DT the ) ( JJ year-ago ) ( NN period ) ) ) ) ) ) ) ) ) ) )

For the nine months Great Western posted net of 177.5 million or 1.37 a share a 5.9 % decline from 188.7 million or 1.48 a share in the year-ago period


( S ( NP-SBJ-2 ( JJ Corporate ) ( NNS efforts ) ( S ( VP ( TO to ) ( VP ( VB control ) ( NP ( JJ health-care ) ( NNS costs ) ) ( PP-MNR ( IN by ) ( S-NOM ( VP ( VBG requiring ) ( NP ( NNS evaluations ) ) ( PP-TMP ( RB prior ) ( TO to ) ( NP ( VBN planned ) ( NN hospitalization ) ( CC and ) ( NN surgery ) ) ) ) ) ) ) ) ) ) ( VP ( VBP have ) ( RB n't ) ( VP ( VBN been ) ( ADJP-PRD ( VBG sweeping ) ( RB enough ) ( S ( VP ( TO to ) ( VP ( VB reduce ) ( NP ( NP ( DT the ) ( JJ long-term ) ( NN rate ) ) ( PP ( IN of ) ( NP ( NN cost ) ( NNS increases ) ) ) ) ) ) ) ) ( PP ( VBG according ) ( PP ( TO to ) ( NP ( NP ( DT a ) ( NN study ) ) ( PP ( IN by ) ( NP-LGS ( NP ( DT the ) ( NNP Institute ) ) ( PP ( IN of ) ( NP ( NNP Medicine ) ) ) ) ) ) ) ) ) ) )

Corporate efforts to control health-care costs by requiring evaluations prior to planned hospitalization and surgery have n't been sweeping enough to reduce the long-term rate of cost increases according to a study by the Institute of Medicine


( S ( PP-TMP ( IN In ) ( NP ( DT the ) ( JJ last ) ( NN decade ) ) ) ( NP-SBJ ( JJ many ) ( NNS corporations ) ) ( VP ( VBP have ) ( VP ( VBN embraced ) ( NP ( DT the ) ( NN utilization ) ( NN management ) ( NN cost ) ( NN containment ) ( NN strategy ) ) ( PP-CLR ( IN as ) ( NP ( NP ( DT a ) ( NN way ) ) ( SBAR ( S ( VP ( TO to ) ( VP ( VB control ) ( NP ( NP ( JJ health-care ) ( NNS costs ) ) ( PP ( IN for ) ( NP ( NNS employees ) ) ) ) ) ) ) ) ) ) ) ) )

In the last decade many corporations have embraced the utilization management cost containment strategy as a way to control health-care costs for employees


( S ( NP-SBJ ( DT These ) ( NNS programs ) ) ( VP ( VP ( VBP vary ) ( ADVP ( RB widely ) ) ) ( CC but ) ( VP ( ADVP-TMP ( RB often ) ) ( VBP require ) ( NP ( NP ( NP ( JJ second ) ( NNS opinions ) ) ( PP ( IN on ) ( NP ( VBN proposed ) ( NN surgery ) ) ) ) ( NP ( NP ( NN preadmission ) ( NNS reviews ) ) ( PP ( IN of ) ( NP ( JJ elective ) ( NNS hospitalizations ) ) ) ) ( CC and ) ( NP ( NP ( NNS reviews ) ) ( PP ( IN of ) ( NP ( NN treatment ) ) ) ( PP-TMP ( IN during ) ( NP ( NP ( NNS illnesses ) ) ( CC or ) ( NP ( NN recovery ) ( NNS periods ) ) ) ) ) ) ) ) )

These programs vary widely but often require second opinions on proposed surgery preadmission reviews of elective hospitalizations and reviews of treatment during illnesses or recovery periods


( S ( NP-SBJ-1 ( NP ( QP ( IN Between ) ( CD 50 ) ( NN % ) ( CC and ) ( CD 75 ) ( NN % ) ) ) ( PP ( IN of ) ( NP ( NP ( NN today ) ( POS 's ) ) ( NNS workers ) ) ) ) ( VP ( VBP are ) ( VP ( VBN covered ) ( PP ( IN by ) ( NP-LGS ( JJ such ) ( NNS plans ) ) ) ( ADVP ( IN up ) ( PP ( IN from ) ( NP ( CD 5 ) ( NN % ) ) ) ( ADVP-TMP ( NP ( CD five ) ( NNS years ) ) ( IN ago ) ) ) ) ) )

Between 50 % and 75 % of today 's workers are covered by such plans up from 5 % five years ago


( S ( S-TPC-2 ( SBAR-ADV ( IN Although ) ( S ( NP-SBJ ( PRP it ) ) ( ADVP ( RB probably ) ) ( VP ( VBZ has ) ( VP ( VBN reduced ) ( NP ( NP ( DT the ) ( NN level ) ) ( PP ( IN of ) ( NP ( NNS expenditures ) ) ) ) ( PP ( IN for ) ( NP ( DT some ) ( NNS purchasers ) ) ) ) ) ) ) ( NP-SBJ-1 ( NP ( NN utilization ) ( NN management ) ) ( PRN ( PP ( IN like ) ( NP ( RBS most ) ( JJ other ) ( NN cost ) ( NN containment ) ( NNS strategies ) ) ) ) ) ( VP ( VBZ does ) ( RB n't ) ( VP ( VB appear ) ( S ( VP ( TO to ) ( VP ( VB have ) ( VP ( VBN altered ) ( NP ( NP ( DT the ) ( JJ long-term ) ( NN rate ) ) ( PP ( IN of ) ( NP ( NP ( NN increase ) ) ( PP-LOC ( IN in ) ( NP ( JJ health-care ) ( NNS costs ) ) ) ) ) ) ) ) ) ) ) ) ) ( NP-SBJ ( NP ( NP ( DT the ) ( NNP Institute ) ) ( PP ( IN of ) ( NP ( NNP Medicine ) ) ) ) ( NP ( NP ( DT an ) ( NN affiliate ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( NNP National ) ( NNP Academy ) ) ( PP ( IN of ) ( NP ( NNPS Sciences ) ) ) ) ) ) ) ( VP ( VBD concluded ) ( PP-TMP ( IN after ) ( NP ( DT a ) ( JJ two-year ) ( NN study ) ) ) ) )

Although it probably has reduced the level of expenditures for some purchasers utilization management like most other cost containment strategies does n't appear to have altered the long-term rate of increase in health-care costs the Institute of Medicine an affiliate of the National Academy of Sciences concluded after a two-year study


( S ( NP-SBJ ( NP ( NNS Employers ) ) ( SBAR ( WHNP-1 ( WP who ) ) ( S ( VP ( VBD saw ) ( NP ( NP ( DT a ) ( JJ short-term ) ( NN moderation ) ) ( PP-LOC ( IN in ) ( NP ( NN benefit ) ( NNS expenditures ) ) ) ) ) ) ) ) ( VP ( VBP are ) ( VP ( VBG seeing ) ( NP ( NP ( DT a ) ( NN return ) ) ( PP ( TO to ) ( NP ( JJ previous ) ( NNS trends ) ) ) ) ) ) )

Employers who saw a short-term moderation in benefit expenditures are seeing a return to previous trends


( S ( SBAR-ADV ( IN While ) ( S ( NP-SBJ ( NN utilization ) ( NN management ) ) ( ADVP-TMP ( RB frequently ) ) ( VP ( VBZ reduces ) ( NP ( NN hospitalization ) ( NNS costs ) ) ) ) ) ( NP-SBJ-1 ( DT these ) ( NNS savings ) ) ( VP ( VBP are ) ( ADVP-TMP ( RB often ) ) ( VP ( VBN offset ) ( PP ( IN by ) ( NP-LGS ( NP ( NP ( NNS increases ) ) ( PP-LOC ( IN in ) ( NP ( NN outpatient ) ( NNS services ) ) ) ) ( CC and ) ( NP ( JJR higher ) ( JJ administrative ) ( NNS costs ) ) ) ) ( PP ( VBG according ) ( PP ( TO to ) ( NP ( NP ( DT the ) ( NN report ) ) ( PP ( IN by ) ( NP ( NP ( DT a ) ( NN panel ) ) ( PP ( IN of ) ( NP ( JJ health-care ) ( NNS experts ) ) ) ) ) ) ) ) ) ) )

While utilization management frequently reduces hospitalization costs these savings are often offset by increases in outpatient services and higher administrative costs according to the report by a panel of health-care experts


( S ( NP-SBJ ( DT The ) ( NN report ) ) ( VP ( VBD suggested ) ( SBAR ( DT that ) ( S ( NP-SBJ ( JJ current ) ( NN review ) ( NNS programs ) ) ( VP ( VBP are ) ( ADJP-PRD ( RB too ) ( JJ narrow ) ) ) ) ) ) )

The report suggested that current review programs are too narrow


( S ( S-TPC-1 ( NP-SBJ ( NP ( NP ( DT The ) ( ADJP ( JJ unnecessary ) ( CC and ) ( JJ inappropriate ) ) ( NN use ) ) ( PP ( IN of ) ( NP ( DT the ) ( NN hospital ) ) ) ) ( CC and ) ( RB not ) ( NP ( NP ( DT the ) ( JJ actual ) ( NN need ) ) ( PP ( IN for ) ( NP ( DT a ) ( JJ particular ) ( NN procedure ) ) ) ) ) ( VP ( VBZ has ) ( VP ( VBN been ) ( NP-PRD ( DT the ) ( JJ main ) ( NN focus ) ) ) ) ) ( NP-SBJ ( DT the ) ( NN panel ) ) ( VP ( VBD said ) ) )

The unnecessary and inappropriate use of the hospital and not the actual need for a particular procedure has been the main focus the panel said


( S ( PP ( IN As ) ( NP ( DT a ) ( JJ general ) ( NN rule ) ) ) ( NP-SBJ ( JJ prior-review ) ( NNS programs ) ) ( VP ( VBP have ) ( RB not ) ( VP ( VBN made ) ( NP ( NP ( JJ case-by-case ) ( NNS assessments ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( JJ comparative ) ( NNS costs ) ) ( PP ( IN of ) ( NP ( JJ alternative ) ( NX ( NX ( NNS treatments ) ) ( CC or ) ( NX ( NX ( NNS sites ) ) ( PP ( IN of ) ( NP ( NN care ) ) ) ) ) ) ) ) ) ) ) ) )

As a general rule prior-review programs have not made case-by-case assessments of the comparative costs of alternative treatments or sites of care


( S ( NP-SBJ ( DT The ) ( NN report ) ) ( VP ( VBD said ) ( SBAR ( DT that ) ( S ( NP-SBJ ( NN utilization ) ( NN management ) ) ( VP ( MD should ) ( VP ( VB have ) ( NP ( NP ( RBR more ) ) ( PP ( IN of ) ( NP ( DT an ) ( NN impact ) ) ) ) ( SBAR-TMP ( IN as ) ( S ( NP-SBJ-1 ( NP ( JJ federal ) ( NN research ) ) ( PP ( IN on ) ( NP ( NP ( DT the ) ( NN effectiveness ) ) ( PP ( IN of ) ( NP ( JJ medical ) ( NNS treatments ) ) ) ) ) ) ( VP ( VBZ helps ) ( S ( VP ( VB lead ) ( PP-CLR ( TO to ) ( NP ( JJ medical ) ( NN practice ) ( NNS guidelines ) ) ) ) ) ) ) ) ) ) ) ) ) )

The report said that utilization management should have more of an impact as federal research on the effectiveness of medical treatments helps lead to medical practice guidelines


( S ( NP-SBJ ( NP ( NNP Howard ) ( NNP Bailit ) ) ( NP ( NP ( DT a ) ( NN panel ) ( NN member ) ) ( CC and ) ( NP ( NP ( DT a ) ( NN vice ) ( NN president ) ) ( PP ( IN of ) ( NP ( NNP Aetna ) ( NNP Life ) ( CC & ) ( NNP Casualty ) ) ) ) ) ) ( VP ( VBD said ) ( SBAR ( DT that ) ( S ( NP-SBJ ( NN utilization ) ( NN management ) ) ( VP ( MD will ) ( ADVP ( RB also ) ) ( VP ( VB do ) ( NP ( NP ( DT a ) ( JJR better ) ( NN job ) ) ( PP ( IN of ) ( S-NOM ( VP ( VBG containing ) ( NP ( NNS costs ) ) ) ) ) ) ( SBAR-TMP ( IN as ) ( S ( NP-SBJ-1 ( PRP it ) ) ( VP ( VBZ spreads ) ( S ( VP ( TO to ) ( VP ( VB cover ) ( NP ( NP ( JJ medical ) ( NNS services ) ) ( VP ( VBN delivered ) ( ADVP-LOC ( IN outside ) ( PP ( IN of ) ( NP ( NNS hospitals ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Howard Bailit a panel member and a vice president of Aetna Life & Casualty said that utilization management will also do a better job of containing costs as it spreads to cover medical services delivered outside of hospitals


( S ( S-TPC-1 ( NP-SBJ ( EX There ) ) ( VP ( VBZ 's ) ( NP-PRD ( ADJP ( RB pretty ) ( JJ good ) ) ( NN evidence ) ( SBAR ( DT that ) ( S ( NP-SBJ ( NN utilization ) ( NN management ) ) ( VP ( VBZ has ) ( VP ( VBN reduced ) ( NP ( JJ inappropriate ) ( NN hospitalization ) ) ) ) ) ) ) ) ) ( NP-SBJ ( PRP he ) ) ( VP ( VBD said ) ) )

There 's pretty good evidence that utilization management has reduced inappropriate hospitalization he said


( S ( CC But ) ( PP-TMP ( IN at ) ( NP ( DT the ) ( JJ same ) ( NN time ) ) ) ( NP-SBJ ( NP ( VBG spending ) ) ( PP ( IN on ) ( NP ( NP ( NN physician ) ( NNS services ) ) ( CC and ) ( NP ( JJ ambulatory ) ( NN care ) ) ) ) ) ( VP ( VBP have ) ( VP ( VBN mushroomed ) ) ) )

But at the same time spending on physician services and ambulatory care have mushroomed


( S ( S-TPC-1 ( NP-SBJ ( PRP It ) ) ( VP ( VBZ 's ) ( PP-PRD ( IN like ) ( S-NOM ( VP ( VBG squeezing ) ( NP ( DT a ) ( NN balloon ) ) ) ) ) ) ) ( NP-SBJ ( NNP Dr. ) ( NNP Bailit ) ) ( VP ( VBD said ) ) )

It 's like squeezing a balloon Dr. Bailit said


( S ( S ( NP-SBJ ( NP ( NNP David ) ( NNP Rahill ) ) ( PP ( IN of ) ( NP ( NNP A. ) ( NNP Foster ) ( NNP Higgins ) ( CC & ) ( NNP Co. ) ) ) ) ( VP ( VBD said ) ( SBAR ( IN that ) ( S ( NP-SBJ ( NP ( NNS clients ) ) ( PP ( IN of ) ( NP ( PRP$ his ) ( VBG consulting ) ( JJ firm ) ) ) ) ( VP ( NN report ) ( SBAR ( DT that ) ( S ( NP-SBJ ( NN utilization ) ( NN management ) ) ( VP ( VBZ reduces ) ( NP ( PRP$ their ) ( NN hospital ) ( NN care ) ( NNS bills ) ) ( PP-EXT ( IN by ) ( NP ( QP ( IN about ) ( CD 5 ) ) ( NN % ) ) ) ) ) ) ) ) ) ) ) ( CC but ) ( S ( NP-SBJ ( PRP he ) ) ( VP ( VBD agreed ) ( SBAR ( IN that ) ( S ( PP ( IN for ) ( NP ( NP ( DT the ) ( NN health-care ) ( NN system ) ) ( PP ( IN as ) ( ADJP ( JJ whole ) ) ) ) ) ( NP-SBJ-1 ( NP ( DT some ) ) ( PP ( IN of ) ( NP ( DT these ) ( NNS savings ) ) ) ) ( VP ( VBP are ) ( VP ( VBN offset ) ( PP ( IN by ) ( NP-LGS ( UCP ( ADJP ( JJ administrative ) ) ( CC and ) ( NP ( NN outpatient ) ( NN care ) ) ) ( NNS costs ) ) ) ) ) ) ) ) ) )

David Rahill of A. Foster Higgins & Co. said that clients of his consulting firm report that utilization management reduces their hospital care bills by about 5 % but he agreed that for the health-care system as whole some of these savings are offset by administrative and outpatient care costs


( S ( NP-SBJ ( NP ( NNP Jerome ) ( NNP Grossman ) ) ( NP ( NP ( NN chairman ) ) ( PP ( IN of ) ( NP ( DT the ) ( NN panel ) ) ) ) ) ( VP ( VBZ agrees ) ( SBAR ( IN that ) ( S ( NP-SBJ ( NP ( JJ administrative ) ( NNS costs ) ) ( PP ( IN of ) ( NP ( NN utilization ) ( NN management ) ( NNS programs ) ) ) ) ( VP ( MD can ) ( VP ( VB be ) ( ADJP-PRD ( JJ high ) ) ) ) ) ) ) )

Jerome Grossman chairman of the panel agrees that administrative costs of utilization management programs can be high


( S ( S-TPC-1 ( NP-SBJ ( PRP You ) ) ( VP ( VBP have ) ( S ( NP-SBJ-2 ( DT a ) ( JJ whole ) ( NN staff ) ) ( VP ( VBG standing ) ( S-ADV ( ADJP-PRD ( JJ ready ) ( S ( VP ( TO to ) ( VP ( VB evaluate ) ( NP ( NP ( DT the ) ( NN appropriateness ) ) ( PP ( IN of ) ( NP ( VBN recommended ) ( NN treatment ) ) ) ) ) ) ) ) ) ) ) ) ) ( NP-SBJ ( PRP he ) ) ( VP ( VBD said ) ) )

You have a whole staff standing ready to evaluate the appropriateness of recommended treatment he said


( S ( NP-SBJ ( NP ( NNP Dr. ) ( NNP Grossman ) ) ( SBAR ( WHNP-1 ( WP who ) ) ( S ( ADVP ( RB also ) ) ( VP ( VBZ is ) ( NP-PRD ( NP ( NN president ) ) ( PP ( IN of ) ( NP ( NP ( NNP New ) ( NNP England ) ( NNP Medical ) ( NNP Center ) ( NNPS Hospitals ) ) ( PP-LOC ( IN in ) ( NP ( NNP Boston ) ) ) ) ) ) ) ) ) ) ( VP ( VBD noted ) ( SBAR ( SBAR ( IN that ) ( S ( NP-SBJ ( NP ( DT the ) ( NNS hospitals ) ) ( SBAR ( S ( NP-SBJ ( PRP he ) ) ( VP ( VBZ runs ) ) ) ) ) ( VP ( VBP deal ) ( PP-CLR ( IN with ) ( NP ( QP ( JJR more ) ( IN than ) ( CD 100 ) ) ( NN utilization ) ( NN management ) ( NNS firms ) ) ) ) ) ) ( CC and ) ( SBAR ( IN that ) ( S ( NP-SBJ ( NP ( JJ many ) ) ( PP ( IN of ) ( NP ( PRP them ) ) ) ) ( VP ( VBP have ) ( NP ( JJ different ) ( NNS procedures ) ( CC and ) ( NNS requirements ) ) ) ) ) ) ) )

Dr. Grossman who also is president of New England Medical Center Hospitals in Boston noted that the hospitals he runs deal with more than 100 utilization management firms and that many of them have different procedures and requirements


( S ( NP-SBJ ( DT The ) ( NN panel ) ) ( VP ( VBD urged ) ( NP ( JJR greater ) ( NNS efforts ) ( S ( VP ( TO to ) ( VP ( VB reduce ) ( NP ( NP ( DT the ) ( NN complexity ) ( NN paperwork ) ( CC and ) ( NN cost ) ) ( PP ( IN of ) ( NP ( NN utilization ) ( NN review ) ) ) ) ) ) ) ) ) )

The panel urged greater efforts to reduce the complexity paperwork and cost of utilization review


( S ( S-TPC-2 ( NP-SBJ-1 ( NN Utilization ) ( NN management ) ) ( VP ( VBZ needs ) ( S ( VP ( TO to ) ( VP ( ADVP-MNR ( RB better ) ) ( VB demonstrate ) ( SBAR ( IN that ) ( S ( NP-SBJ ( PRP it ) ) ( VP ( VP ( VBZ reduces ) ( NP ( NP ( DT the ) ( JJ wasteful ) ( NN use ) ) ( PP ( IN of ) ( NP ( NNS resources ) ) ) ) ) ( VP ( VBZ improves ) ( NP ( NP ( DT the ) ( NN appropriateness ) ) ( PP ( IN of ) ( NP ( JJ patient ) ( NN care ) ) ) ) ) ( CC and ) ( VP ( VBZ imposes ) ( ADVP ( RB only ) ) ( NP ( JJ reasonable ) ( NNS burdens ) ) ( PP-CLR ( IN on ) ( NP ( NNS patients ) ( CC and ) ( NNS providers ) ) ) ) ) ) ) ) ) ) ) ) ( NP-SBJ ( DT the ) ( NN panel ) ) ( VP ( VBD concluded ) ) )

Utilization management needs to better demonstrate that it reduces the wasteful use of resources improves the appropriateness of patient care and imposes only reasonable burdens on patients and providers the panel concluded


( 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 ( WDT 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 ( NP ( NN PLASTIC ) ( NNS PENCILS ) ) ( VP ( VBN CODE-NAMED ) ( S ( NP-PRD ( NNP E-71 ) ) ) ) ) ( VP ( VBD made ) ( NP ( PRP$ their ) ( JJ hush-hush ) ( NN debut ) ) ( PP-LOC ( IN in ) ( NP ( NP ( NNS children ) ( POS 's ) ) ( NN pencil ) ( NNS boxes ) ) ) ( PP-LOC ( IN at ) ( NP ( NN five-and-dime ) ( NNS stores ) ) ) ( PP-TMP ( IN in ) ( NP ( CD 1973 ) ) ) ) )

PLASTIC PENCILS CODE-NAMED E-71 made their hush-hush debut in children 's pencil boxes at five-and-dime stores in 1973


( S ( S ( CC But ) ( NP-SBJ ( JJ few ) ) ( VP ( VBD knew ) ( NP ( PRP it ) ) ( ADVP-TMP ( RB then ) ) ) ) ( CC and ) ( S ( NP-SBJ ( RBS most ) ) ( ADVP-TMP ( RB still ) ) ( VP ( VBP think ) ( SBAR ( S ( NP-SBJ ( DT all ) ( NNS pencils ) ) ( VP ( VBP are ) ( ADJP-PRD ( JJ wooden ) ) ) ) ) ) ) )

But few knew it then and most still think all pencils are wooden


( S ( NP-SBJ ( NP ( NNP Eagle ) ( NNP Pencil ) ) ( PP ( IN of ) ( NP ( NP ( NP ( NNP Shelbyville ) ) ( NP ( NNP Tenn. ) ) ) ( NP ( NNP Pencil ) ( NNP City ) ( NNP U.S.A. ) ) ) ) ) ( VP ( VBD had ) ( VP ( VBN made ) ( NP ( PRP$ its ) ( JJS earliest ) ( NN pilot ) ( NN plastic ) ( NNS pencils ) ) ( PP-TMP ( IN in ) ( NP ( CD 1971 ) ) ) ) ) )

Eagle Pencil of Shelbyville Tenn. Pencil City U.S.A. had made its earliest pilot plastic pencils in 1971


( S-CLF ( CC But ) ( NP-SBJ ( PRP it ) ) ( VP ( VBD was ) ( RB n't ) ( PP-PRD ( IN until ) ( SBAR ( IN after ) ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBD hired ) ( NP ( NP ( NNP Arthur ) ( NNP D. ) ( NNP Little ) ) ( NP ( DT a ) ( NAC-LOC ( NNP Cambridge ) ( NNP Mass. ) ) ( NN research ) ( NN concern ) ) ) ) ) ) ) ( SBAR ( WHADVP-2 ( IN that ) ) ( S ( NP-SBJ-1 ( PRP$ its ) ( JJ new ) ( NN product ) ) ( VP ( VBD was ) ( VP ( VBN refined ) ( PP ( IN for ) ( NP ( JJ commercial ) ( NN sale ) ) ) ( PP-TMP ( IN in ) ( NP ( CD 1973 ) ) ) ) ) ) ) ) )

But it was n't until after it hired Arthur D. Little a Cambridge Mass. research concern that its new product was refined for commercial sale in 1973


( S ( NP-SBJ ( CD Three ) ( NNP A.D.L. ) ( NNS inventors ) ) ( VP ( VBD applied ) ( NP-TMP ( NNP April ) ( CD 6 ) ( CD 1973 ) ) ( PP-CLR ( IN for ) ( NP ( NP ( DT the ) ( NN patent ) ) ( SBAR ( WHNP-2 ( WDT which ) ) ( S ( VP ( VBD was ) ( VP ( VBN assigned ) ( CC and ) ( VBN awarded ) ( PP-TMP ( IN in ) ( NP ( CD 1976 ) ) ) ( PP-CLR ( TO to ) ( NP ( NP ( NNP Hasbro ) ( NNPS Industries ) ) ( ADVP-TMP ( RB then ) ) ( NP ( NP ( NNP Eagle ) ( POS 's ) ) ( NN parent ) ) ) ) ) ) ) ) ) ) ) )

Three A.D.L. inventors applied April 6 1973 for the patent which was assigned and awarded in 1976 to Hasbro Industries then Eagle 's parent


( S ( NP-SBJ ( NN Pencil ) ( NNS pushers ) ) ( VP ( VP ( VBP chew ) ) ( CC and ) ( VP ( VBP put ) ) ( NP-1 ( DT the ) ( NN plastic ) ( NNS models ) ) ( PP-2 ( IN behind ) ( NP ( PRP$ their ) ( NNS ears ) ) ) ( PP-MNR ( RB just ) ( IN like ) ( NP ( NP ( JJ traditional ) ( NNS pencils ) ) ( VP ( VBN made ) ( PP-CLR ( IN of ) ( NP ( NP ( VBN glued ) ( NNS strips ) ) ( PP ( IN of ) ( NP ( NNP California ) ( NN incense ) ( NN cedar ) ) ) ( VP ( VBN filled ) ( PP-CLR ( IN with ) ( NP ( JJ ceramic ) ( NN lead ) ) ) ) ) ) ) ) ) ) )

Pencil pushers chew and put the plastic models behind their ears just like traditional pencils made of glued strips of California incense cedar filled with ceramic lead


( S ( NP-SBJ ( NP ( PRP It ) ) ) ( VP ( VP ( VBZ takes ) ( NP-2 ( CD five ) ( NNS steps ) ) ( S-1 ( VP ( TO to ) ( VP ( VB make ) ( NP ( JJ standard ) ( NNS pencils ) ) ) ) ) ) ( VP ( NP=2 ( QP ( RB just ) ( CD one ) ) ) ( PP ( IN for ) ( NP ( DT the ) ( NN plastic ) ( NN type ) ) ) ) ) )

It takes five steps to make standard pencils just one for the plastic type


( S ( NP-SBJ ( VBN Automated ) ( NNS machines ) ) ( VP ( VBP coextrude ) ( NP ( NP ( JJ long ) ( NN plastic ) ( NNS sheaths ) ) ( PP ( IN with ) ( NP ( JJ graphite-plastic ) ( NNS cores ) ) ) ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( VP ( VBP are ) ( VP ( VBN printed ) ( VBN cut ) ( VBN painted ) ( CC and ) ( JJ eraser-fitted ) ) ) ) ) ) ) )

Automated machines coextrude long plastic sheaths with graphite-plastic cores that are printed cut painted and eraser-fitted


( SINV ( S-TPC-2 ( PP-TMP ( IN After ) ( NP ( QP ( RBR more ) ( IN than ) ( CD 200 ) ) ( NNS years ) ) ) ( NP-SBJ ( NP ( NN something ) ) ( ADJP ( JJ new ) ) ) ( VP ( VBZ has ) ( VP ( VBN happened ) ( PP-CLR ( TO to ) ( NP ( NNS pencils ) ) ) ) ) ) ( VP ( VBD said ) ) ( NP-SBJ ( NNP Arthur ) ( NNP D. ) ( NNP Little ) ) ( PP-LOC ( IN in ) ( NP ( NP ( DT a ) ( CD 1974 ) ( NN report ) ) ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( VP ( ADVP-MNR ( RB publicly ) ) ( VBD described ) ( NP ( DT the ) ( ADJP ( RB previously ) ( JJ secret ) ) ( NN item ) ) ) ) ) ) ) )

After more than 200 years something new has happened to pencils said Arthur D. Little in a 1974 report that publicly described the previously secret item


( S ( NP-SBJ ( NP ( NNP Eagle ) ( POS 's ) ) ( JJ plastic ) ( NN type ) ) ( VP ( VBZ sharpens ) ( CC and ) ( VBZ looks ) ( PP-CLR ( IN like ) ( NP ( DT a ) ( JJ wooden ) ( NN pencil ) ) ) ) )

Eagle 's plastic type sharpens and looks like a wooden pencil


( S ( NP-SBJ ( DT A ) ( JJ major ) ( NN difference ) ) ( VP ( VBZ is ) ( SBAR-PRD ( IN that ) ( S ( NP-SBJ ( DT a ) ( JJ snapped ) ( JJ wooden ) ( NN pencil ) ) ( VP ( MD will ) ( VP ( VB have ) ( NP ( DT a ) ( VBN slivered ) ( NN break ) ) ( SBAR-ADV ( IN while ) ( S ( NP-SBJ ( DT a ) ( NN plastic ) ( NN model ) ) ( VP ( MD will ) ( VP ( VB break ) ( ADVP-MNR ( RB cleanly ) ) ) ) ) ) ) ) ) ) ) )

A major difference is that a snapped wooden pencil will have a slivered break while a plastic model will break cleanly


( S ( NP-SBJ ( NP ( DT The ) ( NN softness ) ) ( PP ( IN of ) ( NP ( DT the ) ( NN core ) ) ) ) ( VP ( VBZ constrains ) ( NP ( DT the ) ( NN plastic ) ( NNS models ) ) ( PP-CLR ( TO to ) ( NP ( NP ( ADJP ( NN No. ) ( CD 1 ) ( NN No. ) ( CD 2 ) ( CC or ) ( NN No. ) ( JJ 3-type ) ) ( NNS pencils ) ) ( SBAR ( WHNP-1 ( WDT which ) ) ( S ( VP ( VBP account ) ( PP-CLR ( IN for ) ( NP ( NP ( DT the ) ( NN bulk ) ) ( PP ( IN of ) ( NP ( DT the ) ( NN market ) ) ) ) ) ) ) ) ) ) ) )

The softness of the core constrains the plastic models to No. 1 No. 2 or No. 3-type pencils which account for the bulk of the market


( S ( NP-SBJ ( NNS Artists ) ( CC and ) ( NNS draftsmen ) ) ( VP ( VBP need ) ( NP ( JJR harder ) ( NNS leads ) ) ) )

Artists and draftsmen need harder leads


( S ( NP-SBJ ( NP ( NNP Eagle ) ) ( VP ( ADVP-TMP ( RB now ) ) ( VBN called ) ( S ( NP-PRD ( NNP Eagle-Berol ) ) ) ) ) ( VP ( VBZ remains ) ( NP-PRD ( NP ( DT a ) ( VBG leading ) ( NN company ) ) ( PP-LOC ( IN among ) ( NP ( NP ( DT the ) ( CD 10 ) ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( NNP U.S. ) ) ) ( SBAR ( WHNP-1 ( IN that ) ) ( S ( VP ( VBD produced ) ( NP ( QP ( IN about ) ( CD 2.3 ) ( CD billion ) ) ( NNS pencils ) ) ( NP-TMP ( JJ last ) ( NN year ) ) ) ) ) ) ) ) ( PP ( VBG according ) ( PP ( TO to ) ( NP ( DT the ) ( NNP Pencil ) ( NNPS Makers ) ( NNP Association ) ) ) ) ) )

Eagle now called Eagle-Berol remains a leading company among the 10 in the U.S. that produced about 2.3 billion pencils last year according to the Pencil Makers Association


( S ( S ( NP-SBJ ( NP ( PRP It ) ) ) ( VP ( VBZ 's ) ( NP-PRD ( DT a ) ( NN trade ) ( NN secret ) ) ( SBAR-3 ( WHNP-1 ( WRB how ) ( JJ many ) ) ( S ( VP ( VBD were ) ( NP-PRD ( NN plastic ) ) ) ) ) ) ) ( CC and ) ( S ( NP-SBJ ( JJS most ) ( NNS writers ) ) ( ADVP-TMP ( RB still ) ) ( VP ( VBP do ) ( RB n't ) ( VP ( VB know ) ( SBAR ( WHNP-2 ( WP what ) ) ( S ( NP-SBJ ( PRP they ) ) ( VP ( VBP 're ) ( VP ( VBG using ) ) ) ) ) ) ) ) )

It 's a trade secret how many were plastic and most writers still do n't know what they 're using


( S ( NP-SBJ ( NNP Jefferies ) ( NNP Group ) ( NNP Inc. ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( NN third-quarter ) ( NN net ) ( NN income ) ) ( VP ( VBD fell ) ( NP-EXT ( CD 4 ) ( NN % ) ) ( PP-DIR ( TO to ) ( NP ( NP ( QP ( CD 2.2 ) ( CD million ) ) ) ( CC or ) ( NP ( NP ( CD 35 ) ( NNS cents ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ) ( PP-DIR ( IN from ) ( NP ( NP ( QP ( CD 2.3 ) ( CD million ) ) ) ( CC or ) ( NP ( NP ( NP ( CD 31 ) ( NNS cents ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ( PP ( IN on ) ( NP ( JJR more ) ( NNS shares ) ) ) ) ) ( ADVP-TMP ( NP ( DT a ) ( NN year ) ) ( RBR earlier ) ) ) ) ) ) ) )

Jefferies Group Inc. said third-quarter net income fell 4 % to 2.2 million or 35 cents a share from 2.3 million or 31 cents a share on more shares a year earlier


( S ( NP-SBJ ( NN Revenue ) ) ( VP ( VBD rose ) ( NP-EXT ( CD 15 ) ( NN % ) ) ( PP-DIR ( TO to ) ( NP ( QP ( CD 36 ) ( CD million ) ) ) ) ( PP-DIR ( IN from ) ( NP ( QP ( CD 31.2 ) ( CD million ) ) ) ) ) )

Revenue rose 15 % to 36 million from 31.2 million


( S ( NP-SBJ ( NP ( NNP Jefferies ) ) ( NP ( NP ( DT a ) ( NNP Los ) ( NNP Angeles ) ( VBG holding ) ( NN company ) ) ( VP ( ADVP ( RB primarily ) ) ( VBN engaged ) ( PP-CLR ( IN in ) ( NP ( NNS securities ) ( NN trading ) ) ) ) ) ) ( ADVP ( RB also ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( NP ( NN stock ) ( NN market ) ( VBZ declines ) ) ( PP-TMP ( IN since ) ( NP ( NP ( DT the ) ( NN quarter ) ) ( VP ( VBD ended ) ( NP-TMP ( NNP Sept. ) ( CD 30 ) ) ) ) ) ) ( VP ( VBD created ) ( NP ( NP ( DT an ) ( JJ unrealized ) ( NN pretax ) ( NN loss ) ) ( PP ( IN of ) ( NP ( QP ( IN about ) ( CD 6 ) ( CD million ) ) ) ) ( PP-LOC ( IN in ) ( NP ( PRP$ its ) ( NN risk ) ( NN arbitrage ) ( NN account ) ) ) ) ) ) ) ) )

Jefferies a Los Angeles holding company primarily engaged in securities trading also said stock market declines since the quarter ended Sept. 30 created an unrealized pretax loss of about 6 million in its risk arbitrage account


( S ( PP-TMP ( IN For ) ( NP ( DT the ) ( CD nine ) ( NNS months ) ) ) ( NP-SBJ ( NNP Jefferies ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( NN net ) ) ( VP ( VBD fell ) ( NP-EXT ( CD 39 ) ( NN % ) ) ( PP-DIR ( TO to ) ( NP ( NP ( QP ( CD 6.8 ) ( CD million ) ) ) ( CC or ) ( NP ( NP ( CD 1.07 ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ) ( PP-DIR ( IN from ) ( NP ( NP ( QP ( CD 11.1 ) ( CD million ) ) ) ( CC or ) ( NP ( NP ( CD 1.50 ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ) ) ) ) ) )

For the nine months Jefferies said net fell 39 % to 6.8 million or 1.07 a share from 11.1 million or 1.50 a share


( S ( NP-SBJ ( NN Revenue ) ) ( VP ( VBD fell ) ( NP-EXT ( CD 3 ) ( NN % ) ) ( PP-DIR ( TO to ) ( NP ( QP ( CD 105.2 ) ( CD million ) ) ) ) ( PP-DIR ( IN from ) ( NP ( QP ( CD 108.4 ) ( CD million ) ) ) ) ) )

Revenue fell 3 % to 105.2 million from 108.4 million


( S ( NP-SBJ ( NNP British ) ( NNPS Airways ) ( NNP PLC ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBZ is ) ( VP ( VBG seeking ) ( NP ( NP ( VBN improved ) ( NNS terms ) ) ( CC and ) ( NP ( DT a ) ( ADJP ( RB sharply ) ( JJR lower ) ) ( NN price ) ) ) ( PP-LOC ( IN in ) ( NP ( NP ( DT any ) ( VBN revised ) ( NN bid ) ) ( PP ( IN for ) ( NP ( NNP United ) ( NNPS Airlines ) ( NN parent ) ( NP ( NNP UAL ) ( NNP Corp. ) ) ) ) ) ) ( PP-TMP ( VBG following ) ( NP ( NP ( DT the ) ( NN collapse ) ) ( PP ( IN of ) ( NP ( DT a ) ( ADJP ( ADJP ( QP ( CD 6.79 ) ( CD billion ) ) ) ( ADJP ( JJ 300-a-share ) ) ) ( NN buy-out ) ( NN bid ) ) ) ) ) ) ) ) ) ) )

British Airways PLC said it is seeking improved terms and a sharply lower price in any revised bid for United Airlines parent UAL Corp. following the collapse of a 6.79 billion 300-a-share buy-out bid


( S ( NP-SBJ ( NP ( NNP Derek ) ( NNP Stevens ) ) ( NP ( NP ( NNP British ) ( NNP Air ) ( POS 's ) ) ( NN chief ) ( JJ financial ) ( NN officer ) ) ) ( VP ( VP ( VBD told ) ( NP ( NNP Dow ) ( NNP Jones ) ( NNP Professional ) ( NNP Investor ) ( NNP Report ) ) ( SBAR ( S ( NP-SBJ ( NP ( DT a ) ( NN price ) ) ( PP ( IN of ) ( NP ( NP ( CD 230 ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ) ( VP ( VBZ is ) ( ADVP ( RB certainly ) ) ( RB not ) ( ADJP-PRD ( RB too ) ( JJ low ) ) ) ) ) ) ( CC and ) ( VP ( VBD indicated ) ( SBAR ( S ( NP-SBJ-1 ( PRP$ his ) ( NN company ) ) ( VP ( MD would ) ( VP ( VB like ) ( S ( VP ( TO to ) ( VP ( VB reduce ) ( NP ( NP ( DT the ) ( NN size ) ) ( PP ( IN of ) ( NP ( PRP$ its ) ( ADJP ( QP ( CD 750 ) ( CD million ) ) ) ( NN cash ) ( NN investment ) ) ) ) ) ) ) ) ) ) ) ) ) )

Derek Stevens British Air 's chief financial officer told Dow Jones Professional Investor Report a price of 230 a share is certainly not too low and indicated his company would like to reduce the size of its 750 million cash investment


( S ( NP-SBJ ( PRP He ) ) ( VP ( VBD added ) ( SBAR ( S ( NP-SBJ-2 ( DT the ) ( NN airline ) ) ( VP ( VP ( VBZ is ) ( RB n't ) ( VP ( VBN committed ) ( PP-CLR ( TO to ) ( S-NOM ( VP ( VBG going ) ( ADVP-CLR ( RB forward ) ) ( PP ( IN with ) ( NP ( DT any ) ( JJ new ) ( NN bid ) ) ) ) ) ) ) ) ( CC and ) ( VP ( VBZ has ) ( RB n't ) ( VP ( VBN participated ) ( PP-CLR ( IN in ) ( NP ( NP ( NNS bankers ) ( POS ' ) ) ( NNS efforts ) ( S ( VP ( TO to ) ( VP ( VB revive ) ( NP ( NP ( DT the ) ( NN transaction ) ) ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( VP ( VBD collapsed ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

He added the airline is n't committed to going forward with any new bid and has n't participated in bankers ' efforts to revive the transaction that collapsed


( S ( NP-SBJ-1 ( PRP We ) ) ( VP ( VBP 're ) ( PP ( IN in ) ( NP ( DT no ) ( NN way ) ) ) ( VP ( VBN committed ) ( PP-CLR ( TO to ) ( S-NOM ( NP-SBJ ( DT a ) ( NN deal ) ) ( VP ( VBG going ) ( ADVP-CLR ( RB through ) ) ) ) ) ( ADVP ( IN at ) ( DT all ) ) ) ) )

We 're in no way committed to a deal going through at all


( S ( NP-SBJ ( PRP We ) ) ( VP ( VBP 're ) ( RB not ) ( VP ( VBG rushing ) ( PP-DIR ( IN into ) ( NP ( NN anything ) ) ) ) ) )

We 're not rushing into anything


( S ( S-TPC-2 ( NP-SBJ-1 ( PRP We ) ) ( VP ( VBP do ) ( RB n't ) ( VP ( VB want ) ( S ( VP ( TO to ) ( VP ( VB be ) ( NP-PRD ( NP ( NN party ) ) ( PP ( TO to ) ( NP ( DT a ) ( JJ second ) ( NN rejection ) ) ) ) ) ) ) ) ) ) ( NP-SBJ-3 ( PRP he ) ) ( VP ( VBD said ) ( S-ADV ( VP ( VBG adding ) ( SBAR ( IN that ) ( S ( S-NOM-SBJ ( VP ( VBG coming ) ( PRT ( RP up ) ) ( PP-CLR ( IN with ) ( NP ( DT a ) ( VBN revised ) ( NN offer ) ) ) ) ) ( VP ( MD could ) ( ADVP ( RB easily ) ) ( VP ( VB take ) ( NP ( JJ several ) ( NNS weeks ) ) ) ) ) ) ) ) ) )

We do n't want to be party to a second rejection he said adding that coming up with a revised offer could easily take several weeks


( S ( NP-SBJ-2 ( NP ( NNP Mr. ) ( NNP Stevens ) ( POS 's ) ) ( NNS remarks ) ) ( S-ADV ( VP ( VBG confirming ) ( NP ( NP ( DT a ) ( NN report ) ) ( PP-LOC ( IN in ) ( NP ( DT The ) ( NNP Wall ) ( NNP Street ) ( NNP Journal ) ) ) ( SBAR-3 ( IN that ) ( S ( NP-SBJ-1 ( NNP British ) ( NNP Air ) ) ( VP ( VBZ wants ) ( S ( VP ( TO to ) ( VP ( VB start ) ( PP ( IN from ) ( NP ( NN scratch ) ) ) ( PP-LOC ( IN in ) ( NP ( NP ( DT any ) ( JJ new ) ( NN bid ) ) ( PP ( IN for ) ( NP ( NP ( DT the ) ( NN nation ) ( POS 's ) ) ( JJ second-largest ) ( NN airline ) ) ) ) ) ) ) ) ) ) ) ) ) ) ( VP ( VBD helped ) ( S ( VP ( VB push ) ( NP ( NNP UAL ) ( NN stock ) ) ( ADVP-DIR ( JJR lower ) ) ( PP ( IN for ) ( NP ( DT the ) ( JJ fourth ) ( JJ straight ) ( NN day ) ) ) ) ) ) )

Mr. Stevens 's remarks confirming a report in The Wall Street Journal that British Air wants to start from scratch in any new bid for the nation 's second-largest airline helped push UAL stock lower for the fourth straight day


( S ( NP-SBJ ( NNP UAL ) ) ( VP ( VBD fell ) ( NP-EXT ( NP ( CD 6.25 ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ( PP-DIR ( TO to ) ( NP ( CD 191.75 ) ) ) ( PP ( IN on ) ( NP ( NP ( NN volume ) ) ( PP ( IN of ) ( NP ( QP ( CD 2.3 ) ( CD million ) ) ( NNS shares ) ) ) ) ) ( PP-LOC ( IN in ) ( NP ( JJ composite ) ( NN trading ) ) ) ( PP-LOC ( IN on ) ( NP ( DT the ) ( NNP New ) ( NNP York ) ( NNP Stock ) ( NNP Exchange ) ) ) ( SBAR-TMP ( IN as ) ( S ( NP-SBJ ( NP ( NN concern ) ) ) ( VP ( VBD deepened ) ( PP-LOC ( IN among ) ( NP ( NN takeover ) ( NN stock ) ( NNS traders ) ) ) ( PP-3 ( IN about ) ( NP ( NP ( DT the ) ( NN length ) ) ( PP ( IN of ) ( NP ( NP ( NN time ) ) ( SBAR ( S ( NP-SBJ ( NP ( PRP it ) ) ) ( VP ( MD will ) ( VP ( VB take ) ( S-2 ( VP ( TO to ) ( VP ( VB revive ) ( NP ( DT the ) ( NN purchase ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

UAL fell 6.25 a share to 191.75 on volume of 2.3 million shares in composite trading on the New York Stock Exchange as concern deepened among takeover stock traders about the length of time it will take to revive the purchase


( S ( PP-LOC ( IN Under ) ( NP ( NP ( DT the ) ( JJ original ) ( NN buy-out ) ) ( VP ( VBN approved ) ( PP ( IN by ) ( NP-LGS ( DT the ) ( NNP UAL ) ( NN board ) ) ) ( NP-TMP ( NNP Sept. ) ( CD 14 ) ) ) ) ) ( NP-SBJ-1 ( NP ( NNP UAL ) ( POS 's ) ) ( NNS pilots ) ) ( VP ( VBD planned ) ( S ( VP ( TO to ) ( VP ( VP ( VB put ) ( PRT ( RP up ) ) ( NP ( NP ( QP ( CD 200 ) ( CD million ) ) ) ( PP ( IN in ) ( NP ( NN cash ) ) ) ) ) ( CC and ) ( VP ( VB make ) ( NP ( NP ( QP ( CD 200 ) ( CD million ) ) ) ( PP ( IN in ) ( NP ( JJ annual ) ( NN cost ) ( NNS concessions ) ) ) ) ) ( PP ( IN for ) ( NP ( DT a ) ( ADJP ( CD 75 ) ( NN % ) ) ( NN stake ) ) ) ) ) ) ) )

Under the original buy-out approved by the UAL board Sept. 14 UAL 's pilots planned to put up 200 million in cash and make 200 million in annual cost concessions for a 75 % stake


( S ( S ( NP-SBJ ( NNP UAL ) ( NN management ) ) ( VP ( VBD was ) ( VP ( TO to ) ( VP ( VB pay ) ( NP ( QP ( CD 15 ) ( CD million ) ) ) ( PP ( IN for ) ( NP ( CD 10 ) ( NN % ) ) ) ) ) ) ) ( CC and ) ( S ( NP-SBJ ( NNP British ) ( NNP Air ) ) ( VP ( VBD was ) ( VP ( TO to ) ( VP ( VB receive ) ( NP ( DT a ) ( ADJP ( CD 15 ) ( NN % ) ) ( NN stake ) ) ) ) ) ) )

UAL management was to pay 15 million for 10 % and British Air was to receive a 15 % stake


( S ( NP-SBJ ( DT The ) ( NN buy-out ) ) ( VP ( NN fell ) ( ADVP-CLR ( RB through ) ) ( SBAR-TMP ( WHADVP-1 ( WRB when ) ) ( S ( NP-SBJ-2 ( NP ( NNP Citicorp ) ) ( CC and ) ( NP ( NNP Chase ) ( NNP Manhattan ) ( NNP Corp. ) ) ) ( ADVP ( RB unexpectedly ) ) ( VP ( VBD failed ) ( S ( VP ( TO to ) ( VP ( VB obtain ) ( NP ( NN bank ) ( NN financing ) ) ) ) ) ) ) ) ) )

The buy-out fell through when Citicorp and Chase Manhattan Corp. unexpectedly failed to obtain bank financing


( S ( PP-TMP ( IN Since ) ( NP ( RB then ) ) ) ( NP-SBJ ( NNP UAL ) ( NN stock ) ) ( VP ( VBZ has ) ( VP ( VBN fallen ) ( NP-EXT ( CD 33 ) ( NN % ) ) ( PP ( IN in ) ( SBAR-NOM ( WHNP-1 ( WP what ) ) ( S ( VP ( MD may ) ( VP ( VB rank ) ( PP-CLR ( IN as ) ( NP ( NP ( DT the ) ( JJS largest ) ( NN collapse ) ) ( PP ( IN of ) ( NP ( DT a ) ( NN takeover ) ( NN stock ) ) ) ( ADVP-TMP ( RB ever ) ) ) ) ) ) ) ) ) ) ) )

Since then UAL stock has fallen 33 % in what may rank as the largest collapse of a takeover stock ever


( S ( NP-SBJ-1 ( NP ( DT The ) ( NN tenor ) ) ( PP ( IN of ) ( NP ( NP ( NNP Mr. ) ( NNP Stevens ) ( POS 's ) ) ( NNS remarks ) ) ) ) ( VP ( VBD seemed ) ( S ( VP ( TO to ) ( VP ( VB indicate ) ( SBAR ( IN that ) ( S ( NP-SBJ ( NNP British ) ( NNP Air ) ) ( VP ( MD will ) ( VP ( VB take ) ( NP ( DT a ) ( ADJP ( RBR more ) ( JJ active ) ) ( JJ high-profile ) ( NN role ) ) ( PP ( IN in ) ( S-NOM ( VP ( VBG pursuing ) ( NP ( DT any ) ( JJ new ) ( NN bid ) ) ) ) ) ) ) ) ) ) ) ) ) )

The tenor of Mr. Stevens 's remarks seemed to indicate that British Air will take a more active high-profile role in pursuing any new bid


( S ( NP-SBJ ( PRP He ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( PRP he ) ) ( VP ( VBZ believes ) ( SBAR ( S ( NP-SBJ-1 ( NNP UAL ) ( NN management ) ) ( VP ( VBD was ) ( VP ( ADVP-MNR ( RB badly ) ) ( VBN advised ) ( PP ( IN on ) ( NP ( NP ( DT the ) ( VBG funding ) ) ( PP ( IN of ) ( NP ( PRP$ its ) ( JJ original ) ( NN transaction ) ) ) ) ) ) ) ) ) ) ) ) ) )

He said he believes UAL management was badly advised on the funding of its original transaction


( S ( NP-SBJ ( NNP Mr. ) ( NNP Stevens ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( NNP British ) ( NNP Air ) ) ( VP ( VP ( VBZ has ) ( RB n't ) ( VP ( VBD received ) ( NP ( DT any ) ( JJ new ) ( NN buy-out ) ( NNS proposals ) ) ( PP-CLR ( IN from ) ( NP ( NP ( DT the ) ( NN labor-management ) ( NN group ) ) ( VP ( VBN led ) ( PP ( IN by ) ( NP-LGS ( NNP UAL ) ( NNP Chairman ) ( NNP Stephen ) ( NNP Wolf ) ) ) ) ) ) ) ) ( CC and ) ( VP ( VBZ has ) ( RB n't ) ( VP ( VBN received ) ( NP ( NP ( DT any ) ( NN indication ) ) ( PP ( IN of ) ( SBAR-NOM ( WHADVP-1 ( WRB when ) ) ( S ( NP-SBJ ( NN one ) ) ( VP ( MD might ) ( VP ( VB be ) ( ADJP-PRD ( JJ forthcoming ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Mr. Stevens said British Air has n't received any new buy-out proposals from the labor-management group led by UAL Chairman Stephen Wolf and has n't received any indication of when one might be forthcoming


( S ( S-TPC-1 ( ADVP ( ADVP ( RB As ) ( RB far ) ) ( SBAR ( IN as ) ( S ( NP-SBJ ( PRP we ) ) ( VP ( VBP 're ) ( ADJP-PRD ( VBN concerned ) ) ) ) ) ) ( NP-SBJ ( PRP we ) ) ( VP ( VBP 're ) ( VP ( VBG waiting ) ( SBAR-CLR ( IN for ) ( S ( NP-SBJ ( DT the ) ( NN dust ) ) ( VP ( TO to ) ( VP ( VB settle ) ) ) ) ) ) ) ) ( NP-SBJ ( PRP he ) ) ( VP ( VBD said ) ) )

As far as we 're concerned we 're waiting for the dust to settle he said


( S ( SBAR-ADV ( IN Although ) ( S ( NP-SBJ-1 ( NNP British ) ( NNP Air ) ) ( VP ( VBZ is ) ( VP ( VBG waiting ) ( S ( VP ( TO to ) ( VP ( VB see ) ( SBAR-NOM ( WHNP-2 ( WP what ) ) ( S ( NP-SBJ ( DT the ) ( NN buy-out ) ( NN group ) ) ( VP ( VBZ comes ) ( PRT ( RP up ) ) ( PP-CLR ( IN with ) ) ) ) ) ) ) ) ) ) ) ) ( NP-SBJ ( NNP Mr. ) ( NNP Stevens ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ-3 ( NP ( DT a ) ( VBN revised ) ( NN transaction ) ) ( PP ( IN with ) ( NP ( JJR less ) ( NN debt ) ( NN leverage ) ) ) ) ( VP ( VBZ is ) ( ADJP-PRD ( JJ likely ) ( S ( VP ( TO to ) ( VP ( VB be ) ( ADJP-PRD ( ADJP ( RBR more ) ( JJ attractive ) ) ( PP ( TO to ) ( NP ( NNS banks ) ) ) ) ) ) ) ) ) ) ) ) )

Although British Air is waiting to see what the buy-out group comes up with Mr. Stevens said a revised transaction with less debt leverage is likely to be more attractive to banks


( S ( NP-SBJ ( PRP He ) ) ( VP ( VBD said ) ( SBAR ( S ( S ( NP-SBJ ( DT the ) ( JJ original ) ( NN proposal ) ) ( VP ( VBZ is ) ( ADJP-PRD ( JJ dead ) ) ) ) ( CC and ) ( S ( NP-SBJ ( NP ( DT all ) ( NNS aspects ) ) ( PP ( IN of ) ( NP ( DT a ) ( VBN revised ) ( NN version ) ) ) ) ( VP ( VBP are ) ( ADVP-PRD ( IN up ) ( PP ( IN for ) ( NP ( NN change ) ) ) ) ( PP ( IN in ) ( NP ( NP ( NN light ) ) ( PP ( IN of ) ( NP ( NP ( NP ( DT the ) ( NNS changes ) ) ( PP-LOC ( IN in ) ( NP ( NP ( NNP UAL ) ( POS 's ) ) ( NN market ) ( NN price ) ) ) ) ( NP ( NP ( DT the ) ( NN amount ) ) ( PP ( IN of ) ( NP ( NN debt ) ) ) ( SBAR ( S ( NP-SBJ-2 ( NNS banks ) ) ( VP ( VBP are ) ( ADJP-PRD ( JJ willing ) ( S ( VP ( TO to ) ( VP ( VB fund ) ) ) ) ) ) ) ) ) ( CC and ) ( NP ( NP ( DT the ) ( NN price ) ) ( SBAR ( S ( NP-SBJ-4 ( NNP British ) ( NNP Air ) ) ( VP ( MD would ) ( VP ( VB be ) ( ADJP-PRD ( JJ willing ) ( S ( VP ( TO to ) ( VP ( VB pay ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

He said the original proposal is dead and all aspects of a revised version are up for change in light of the changes in UAL 's market price the amount of debt banks are willing to fund and the price British Air would be willing to pay


( S ( NP-SBJ-1 ( NNP Mr. ) ( NNP Stevens ) ) ( VP ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( PRP he ) ) ( VP ( VBZ expects ) ( SBAR ( S ( NP-SBJ ( DT the ) ( JJ new ) ( NN price ) ) ( VP ( MD will ) ( VP ( VB be ) ( ADJP-PRD ( RB considerably ) ( JJR lower ) ) ) ) ) ) ) ) ) ) ( CC but ) ( VP ( VBD declined ) ( S ( VP ( TO to ) ( VP ( VB specify ) ( NP ( DT a ) ( NN figure ) ) ) ) ) ) ) )

Mr. Stevens said he expects the new price will be considerably lower but declined to specify a figure


( S ( S-ADV ( VP ( VBD Asked ) ( SBAR ( IN whether ) ( S ( NP-SBJ ( NP ( DT a ) ( ADJP ( JJ 230-a-share ) ) ( NN figure ) ) ( VP ( VBG circulating ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( NN market ) ) ) ( NP-TMP ( NN yesterday ) ) ) ) ( VP ( VBZ is ) ( ADJP-PRD ( RB too ) ( JJ low ) ) ) ) ) ) ) ( NP-SBJ-2 ( PRP he ) ) ( VP ( VBD said ) ( S ( NP-SBJ ( PRP It ) ) ( VP ( VBZ 's ) ( ADVP ( RB certainly ) ) ( RB not ) ( ADJP-PRD ( RB too ) ( JJ low ) ) ) ) ) )

Asked whether a 230-a-share figure circulating in the market yesterday is too low he said It 's certainly not too low


( S ( NP-SBJ ( PRP He ) ) ( VP ( VBD added ) ( SBAR ( SBAR ( S ( NP-SBJ ( DT the ) ( JJ original ) ( NN offer ) ) ( VP ( VBD was ) ( NP-PRD ( DT a ) ( ADJP ( RB pretty ) ( JJ full ) ) ( NN price ) ) ) ) ) ( CC and ) ( SBAR ( IN that ) ( S ( NP-SBJ ( NP ( NNP British ) ( NNP Air ) ( POS 's ) ) ( NN contribution ) ) ( VP ( VBD was ) ( NP-PRD ( RB quite ) ( DT a ) ( JJ large ) ( NN chunk ) ) ( PP ( IN for ) ( NP ( PRP us ) ) ) ) ) ) ) ) )

He added the original offer was a pretty full price and that British Air 's contribution was quite a large chunk for us


( S ( NP-SBJ-1 ( NNP British ) ( NNP Air ) ) ( VP ( VP ( VBD was ) ( ADVP ( RB originally ) ) ( VP ( VBN attracted ) ( PP-CLR ( TO to ) ( NP ( NP ( DT the ) ( NN chance ) ) ( PP ( IN of ) ( S-NOM ( VP ( VBG obtaining ) ( NP ( NP ( DT a ) ( ADJP ( CD 15 ) ( NN % ) ) ( NN stake ) ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( NN company ) ) ) ) ) ) ) ) ) ) ) ( CC but ) ( VP ( VBD was ) ( RB n't ) ( ADJP-PRD ( RB particularly ) ( JJ happy ) ) ( PP ( IN with ) ( S-NOM ( VP ( VBG paying ) ( NP ( QP ( CD 750 ) ( CD million ) ) ) ) ) ) ) ) )

British Air was originally attracted to the chance of obtaining a 15 % stake in the company but was n't particularly happy with paying 750 million


( S ( S-TPC-1 ( SBAR-ADV ( IN If ) ( S ( NP-SBJ ( DT the ) ( PRN ( JJ new ) ) ( NN deal ) ) ( VP ( VBD had ) ( S ( NP-SBJ ( PRP us ) ) ( VP ( VP ( VBG putting ) ( PRT ( RP up ) ) ( NP ( JJR less ) ( NN money ) ) ) ( CC but ) ( VP ( ADVP-TMP ( RB still ) ) ( VBG having ) ( NP ( CD 15 ) ( NN % ) ) ) ) ) ) ) ) ( NP-SBJ ( WDT that ) ) ( VP ( MD would ) ( VP ( VB be ) ( NP-PRD ( NP ( DT a ) ( NN point ) ) ( PP ( IN in ) ( NP ( PRP$ our ) ( NN favor ) ) ) ) ) ) ) ( NP-SBJ ( PRP he ) ) ( VP ( VBD said ) ) )

If the new deal had us putting up less money but still having 15 % that would be a point in our favor he said


( S ( PP-LOC ( IN In ) ( NP ( DT any ) ( JJ new ) ( NN proposal ) ) ) ( NP-SBJ ( NNP British ) ( NNP Air ) ) ( VP ( MD would ) ( VP ( VB expect ) ( NP ( NP ( DT a ) ( JJR greater ) ( NN rate ) ) ( PP ( IN of ) ( NP ( NN return ) ) ) ( PP ( IN than ) ( NP ( NP ( DT the ) ( JJ 20%-plus ) ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( JJ original ) ( NN proposal ) ) ) ) ) ) ) ) )

In any new proposal British Air would expect a greater rate of return than the 20%-plus in the original proposal


( S ( PP-LOC ( IN In ) ( NP ( DT the ) ( NN event ) ( SBAR ( IN that ) ( S ( NP-SBJ-1 ( DT the ) ( NN buy-out ) ( NN group ) ) ( VP ( VBZ stalls ) ( PP ( IN in ) ( S-NOM ( VP ( VBG reviving ) ( NP ( PRP$ its ) ( NN bid ) ) ) ) ) ) ) ) ) ) ( NP-SBJ ( DT the ) ( NNP UAL ) ( NN board ) ) ( VP ( MD could ) ( VP ( VB remain ) ( PP-PRD ( IN under ) ( NP ( DT some ) ( NN pressure ) ( S ( VP ( TO to ) ( VP ( VB seek ) ( NP ( DT another ) ( NN transaction ) ) ) ) ) ) ) ( PP ( ADVP ( RB even ) ) ( IN without ) ( NP ( DT any ) ( JJ legal ) ( NN obligation ) ( S ( VP ( TO to ) ( VP ( VB do ) ( ADVP-PRD ( RB so ) ) ) ) ) ) ) ) ) )

In the event that the buy-out group stalls in reviving its bid the UAL board could remain under some pressure to seek another transaction even without any legal obligation to do so


( S ( NP-SBJ-2 ( NP ( RB Roughly ) ( NN one-third ) ) ( PP ( IN of ) ( NP ( PRP$ its ) ( NN stock ) ) ) ) ( VP ( VBZ is ) ( VP ( VBN believed ) ( S ( VP ( VBN held ) ( PP ( IN by ) ( NP-LGS ( NP ( NN takeover ) ( NN stock ) ( NNS traders ) ) ( SBAR ( WHNP-1 ( WP who ) ) ( S ( VP ( MD could ) ( VP ( VB vote ) ( S ( VP ( TO to ) ( VP ( VB oust ) ( NP ( DT the ) ( NN board ) ) ) ) ) ( SBAR-ADV ( IN if ) ( S ( NP-SBJ ( PRP they ) ) ( VP ( VBP become ) ( NP-PRD ( NN impatient ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Roughly one-third of its stock is believed held by takeover stock traders who could vote to oust the board if they become impatient


( S ( ADVP-TMP ( RB Meanwhile ) ) ( NP-SBJ-1 ( NP ( NP ( DT the ) ( NN buy-out ) ( NN group ) ( POS 's ) ) ( NN task ) ) ( PP ( IN of ) ( S-NOM ( VP ( VBG holding ) ( NP ( PRP$ its ) ( JJ fragile ) ( NN coalition ) ) ( ADVP-CLR ( RB together ) ) ( PP ( IN in ) ( NP ( NP ( DT the ) ( NN face ) ) ( PP ( IN of ) ( NP ( NP ( NP ( DT the ) ( NN bid ) ( POS 's ) ) ( NN collapse ) ) ( CC and ) ( NP ( NP ( JJ internal ) ( NN opposition ) ) ( PP ( IN from ) ( NP ( CD two ) ( JJ other ) ( NN employee ) ( NNS groups ) ) ) ) ) ) ) ) ) ) ) ) ( VP ( VBZ has ) ( VP ( VBN been ) ( ADVP ( RB further ) ) ( VP ( VBN complicated ) ( PP ( IN by ) ( NP-LGS ( NP ( DT an ) ( JJ apparent ) ( NN rift ) ) ( PP-LOC ( IN in ) ( NP ( NP ( DT the ) ( NNS ranks ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( NN pilot ) ( NN union ) ) ( NP ( PRP itself ) ) ) ) ) ) ) ) ) ) ) )

Meanwhile the buy-out group 's task of holding its fragile coalition together in the face of the bid 's collapse and internal opposition from two other employee groups has been further complicated by an apparent rift in the ranks of the pilot union itself


( S ( NP-SBJ-1 ( NP ( DT A ) ( NN pilot ) ) ( VP ( VBG representing ) ( NP ( NP ( DT a ) ( NN group ) ) ( PP ( IN of ) ( NP ( CD 220 ) ( NNS pilots ) ) ) ( VP ( VBN hired ) ( PP-TMP ( IN during ) ( NP ( NP ( NNP United ) ( POS 's ) ) ( CD 1985 ) ( NN strike ) ) ) ) ) ) ) ( VP ( VBD filed ) ( NP ( NN suit ) ) ( NP-TMP ( NNP Friday ) ) ( PP-LOC ( IN in ) ( NP ( NNP Chicago ) ( JJ federal ) ( NN court ) ) ) ( S-PRP ( VP ( TO to ) ( VP ( VB block ) ( NP ( DT the ) ( NN takeover ) ) ) ) ) ) )

A pilot representing a group of 220 pilots hired during United 's 1985 strike filed suit Friday in Chicago federal court to block the takeover


( S ( NP-SBJ ( DT The ) ( JJ dissident ) ( NNS pilots ) ) ( VP ( VBP oppose ) ( NP ( DT the ) ( NN plan ) ) ( SBAR-PRP ( IN because ) ( S ( NP-SBJ ( PRP it ) ) ( VP ( MD would ) ( VP ( VB cause ) ( S ( NP-SBJ ( PRP them ) ) ( VP ( TO to ) ( VP ( VB lose ) ( NP ( PRP$ their ) ( NN seniority ) ) ) ) ) ) ) ) ) ) )

The dissident pilots oppose the plan because it would cause them to lose their seniority


( S ( NP-SBJ-1 ( NP ( NNP UAL ) ( POS 's ) ) ( NN management ) ) ( VP ( VBD agreed ) ( S ( VP ( TO to ) ( VP ( VB reduce ) ( NP ( NP ( DT the ) ( NN seniority ) ) ( PP ( IN of ) ( NP ( DT those ) ( NNS pilots ) ) ) ) ( PP ( IN in ) ( NP ( NP ( NN exchange ) ) ( PP ( IN for ) ( NP ( NP ( DT the ) ( NN support ) ) ( PP ( IN of ) ( NP ( DT the ) ( NNP United ) ( NN pilot ) ( NN union ) ) ) ( PP ( IN for ) ( NP ( DT the ) ( NN buy-out ) ( NN proposal ) ) ) ) ) ) ) ) ) ) ) )

UAL 's management agreed to reduce the seniority of those pilots in exchange for the support of the United pilot union for the buy-out proposal


( S ( NP-SBJ ( NP ( DT The ) ( CD 220 ) ( NNS pilots ) ) ( VP ( VBN involved ) ( PP-LOC-CLR ( IN in ) ( NP ( DT the ) ( NN suit ) ) ) ) ) ( VP ( VBP are ) ( RB n't ) ( NP-PRD ( NP ( NNS members ) ) ( PP ( IN of ) ( NP ( DT the ) ( NN union ) ) ) ) ) )

The 220 pilots involved in the suit are n't members of the union


( S ( NP-SBJ ( DT The ) ( NN airline ) ) ( VP ( VBD had ) ( VP ( VBN allowed ) ( S ( NP-SBJ ( PRP them ) ) ( VP ( TO to ) ( VP ( VB move ) ( ADVP-CLR ( RB ahead ) ( PP ( IN of ) ( NP ( DT some ) ( NN union ) ( NNS members ) ) ) ) ( PP ( IN in ) ( NP ( NN seniority ) ) ) ) ) ) ( PP-TMP ( VBG following ) ( NP ( DT the ) ( CD 1985 ) ( NN strike ) ) ) ( NP-ADV ( NP ( DT a ) ( NN move ) ) ( SBAR ( S ( NP-SBJ ( DT the ) ( NN union ) ) ( VP ( VBD had ) ( VP ( VBN contested ) ( PP-LOC ( IN in ) ( NP ( DT a ) ( JJ previous ) ( NN lawsuit ) ) ) ) ) ) ) ) ) ) )

The airline had allowed them to move ahead of some union members in seniority following the 1985 strike a move the union had contested in a previous lawsuit


( S ( NP-SBJ ( NNP Judith ) ( NNP Valente ) ) ( VP ( VBD contributed ) ( PP-CLR ( TO to ) ( NP ( DT this ) ( NN article ) ) ) ) )

Judith Valente contributed to this article


( S ( NP-SBJ ( NP ( NNP Schlumberger ) ( NNP Ltd. ) ) ( NP-LOC ( NNP New ) ( NNP York ) ) ) ( VP ( VBD reported ) ( SBAR ( S ( NP-SBJ ( JJ third-quarter ) ( JJ net ) ( NN income ) ) ( VP ( VBD edged ) ( ADVP-DIR ( IN up ) ) ( SBAR-ADV ( IN as ) ( S ( NP-SBJ ( NP ( NN growth ) ) ( PP-LOC ( IN in ) ( NP ( PRP$ its ) ( JJ oil-field ) ( NNS services ) ( NN sector ) ) ) ) ( VP ( VBP offset ) ( NP ( NP ( DT a ) ( NN decline ) ) ( PP-LOC ( IN in ) ( NP ( NN interest ) ( NN income ) ) ) ) ) ) ) ) ) ) ) )

Schlumberger Ltd. New York reported third-quarter net income edged up as growth in its oil-field services sector offset a decline in interest income


( S ( NP-SBJ ( DT The ) ( JJR lower ) ( NN interest ) ( NN income ) ) ( VP ( VBD occurred ) ( SBAR-PRP ( IN because ) ( S ( NP-SBJ-1 ( NNP Schlumberger ) ) ( VP ( VBD spent ) ( NP ( QP ( CD 1.2 ) ( CD billion ) ) ) ( S-CLR ( VP ( VBG buying ) ( PRT ( RP back ) ) ( NP ( PRP$ its ) ( NN stock ) ) ) ) ( NP-TMP ( JJ last ) ( NN year ) ) ) ) ) ) )

The lower interest income occurred because Schlumberger spent 1.2 billion buying back its stock last year


( S ( NP-SBJ ( NP ( NN Net ) ) ( PP ( IN for ) ( NP ( DT the ) ( NN oil-field ) ( NNS services ) ( CC and ) ( JJ electronic ) ( NNS measurements ) ( CC and ) ( NNS systems ) ( NN concern ) ) ) ) ( VP ( VBD rose ) ( PP-DIR ( TO to ) ( NP ( NP ( QP ( CD 114.2 ) ( CD million ) ) ) ( CC or ) ( NP ( NP ( CD 48 ) ( NNS cents ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ) ( PP-DIR ( IN from ) ( NP ( NP ( QP ( CD 112.2 ) ( CD million ) ) ) ( CC or ) ( NP ( NP ( CD 42 ) ( NNS cents ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ( ADVP-TMP ( NP ( DT a ) ( NN year ) ) ( RBR earlier ) ) ) ) )

Net for the oil-field services and electronic measurements and systems concern rose to 114.2 million or 48 cents a share from 112.2 million or 42 cents a share a year earlier


( S ( NP-SBJ ( JJ Per-share ) ( NNS earnings ) ) ( VP ( VBD advanced ) ( NP-EXT ( CD 14 ) ( NN % ) ) ( PP-PRP ( IN because ) ( IN of ) ( NP ( DT the ) ( NN buy-back ) ) ) ) )

Per-share earnings advanced 14 % because of the buy-back


( S ( NP-SBJ ( NN Revenue ) ) ( VP ( VBD declined ) ( NP-EXT ( CD 6.3 ) ( NN % ) ) ( PP-DIR ( TO to ) ( NP ( QP ( CD 1.11 ) ( CD billion ) ) ) ) ( PP-DIR ( IN from ) ( NP ( QP ( CD 1.18 ) ( CD billion ) ) ) ) ) )

Revenue declined 6.3 % to 1.11 billion from 1.18 billion


( S ( CC But ) ( PP ( VBG excluding ) ( NP ( NP ( NNS businesses ) ) ( VP ( VBN acquired ) ( CC or ) ( VBN sold ) ) ) ) ( NP-SBJ ( NN revenue ) ) ( VP ( VBD was ) ( ADJP-PRD ( JJ flat ) ) ( PP-CLR ( IN at ) ( NP ( QP ( IN about ) ( CD 1.24 ) ( CD billion ) ) ) ) ) )

But excluding businesses acquired or sold revenue was flat at about 1.24 billion


( S ( NP-SBJ ( JJ Nine-month ) ( NN net ) ) ( VP ( VBD fell ) ( NP-EXT ( CD 9.5 ) ( NN % ) ) ( PP-DIR ( TO to ) ( NP ( NP ( QP ( CD 323.4 ) ( CD million ) ) ) ( CC or ) ( NP ( NP ( CD 1.36 ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ) ( PP-DIR ( IN from ) ( NP ( NP ( QP ( CD 357.2 ) ( CD million ) ) ) ( CC or ) ( NP ( NP ( CD 1.32 ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ( ADVP-TMP ( NP ( DT a ) ( NN year ) ) ( RBR earlier ) ) ) ) )

Nine-month net fell 9.5 % to 323.4 million or 1.36 a share from 357.2 million or 1.32 a share a year earlier


( S ( NP-SBJ ( NN Revenue ) ) ( VP ( VBD dropped ) ( NP-EXT ( CD 5.4 ) ( NN % ) ) ( PP-DIR ( TO to ) ( NP ( QP ( CD 3.48 ) ( CD billion ) ) ) ) ( PP-DIR ( IN from ) ( NP ( QP ( CD 3.68 ) ( CD billion ) ) ) ) ) )

Revenue dropped 5.4 % to 3.48 billion from 3.68 billion


( S ( NP-SBJ ( NP ( DT This ) ( NN year ) ( POS 's ) ) ( JJ nine-month ) ( NNS results ) ) ( VP ( VBP include ) ( NP ( NP ( NNS gains ) ) ( PP ( IN of ) ( NP ( NP ( NP ( NP ( QP ( CD 13 ) ( CD million ) ) ) ( CC or ) ( NP ( NP ( CD five ) ( NNS cents ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ( PP ( IN from ) ( NP ( NP ( DT the ) ( NN sale ) ) ( PP ( IN of ) ( NP ( NP ( NNP Schlumberger ) ( POS 's ) ) ( NN defense ) ( NNS systems ) ( NN business ) ) ) ) ) ) ( CC and ) ( NP ( NP ( NP ( QP ( CD 22 ) ( CD million ) ) ) ( CC or ) ( NP ( NP ( CD nine ) ( NNS cents ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ( PP ( IN from ) ( NP ( NP ( DT an ) ( NN award ) ) ( PP ( IN by ) ( NP ( DT the ) ( NNP IranU.S ) ( NNPS Claims ) ( NNP Tribunal ) ) ) ) ) ) ) ) ) ) )

This year 's nine-month results include gains of 13 million or five cents a share from the sale of Schlumberger 's defense systems business and 22 million or nine cents a share from an award by the IranU.S Claims Tribunal


( S ( NP-SBJ ( DT The ) ( JJ year-earlier ) ( CD nine ) ( NNS months ) ) ( VP ( VBP include ) ( NP ( NP ( DT a ) ( NN gain ) ) ( PP ( IN of ) ( NP ( NP ( QP ( CD 35 ) ( CD million ) ) ) ( CC or ) ( NP ( NP ( CD 13 ) ( NNS cents ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ) ( PP ( IN from ) ( NP ( NP ( NN sale ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( NN company ) ( POS 's ) ) ( NNP Electricity ) ( NNP Control ) ( CC & ) ( NNPS Transformers ) ( NN division ) ) ) ) ) ) ) )

The year-earlier nine months include a gain of 35 million or 13 cents a share from sale of the company 's Electricity Control & Transformers division


( SQ ( VBZ Is ) ( NP-SBJ ( NP ( DT an ) ( JJ American ) ( NNP Secretary ) ) ( PP ( IN of ) ( NP ( NNP State ) ) ) ) ( VP ( ADVP-MNR ( RB seriously ) ) ( VBG suggesting ) ( SBAR ( IN that ) ( S ( NP-SBJ-1 ( DT the ) ( NNP Khmer ) ( NNP Rouge ) ) ( VP ( MD should ) ( VP ( VB help ) ( S ( VP ( VB govern ) ( NP ( NNP Cambodia ) ) ) ) ) ) ) ) ) )

Is an American Secretary of State seriously suggesting that the Khmer Rouge should help govern Cambodia


Apparently so


( S ( S ( NP-SBJ ( EX There ) ) ( VP ( VBP are ) ( NP-PRD ( RB no ) ( JJ easy ) ( NNS choices ) ) ( PP-LOC ( IN in ) ( NP ( NNP Cambodia ) ) ) ) ) ( CC but ) ( S ( NP-SBJ ( PRP we ) ) ( VP ( MD ca ) ( RB n't ) ( VP ( VB imagine ) ( SBAR ( IN that ) ( S ( NP-SBJ ( NP ( PRP it ) ) ) ( VP ( VBZ benefits ) ( NP-3 ( DT the ) ( NNP U.S. ) ) ( S-2 ( VP ( TO to ) ( VP ( VB become ) ( NP-PRD ( NP ( DT the ) ( NN catalyst ) ) ( PP ( IN for ) ( NP ( NP ( DT an ) ( JJ all-too-familiar ) ( NN process ) ) ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( VP ( MD could ) ( VP ( VB end ) ( PP-CLR ( IN in ) ( NP ( NP ( DT another ) ( NN round ) ) ( PP ( IN of ) ( NP ( NN horror ) ) ) ( PP-LOC ( IN in ) ( NP ( NNP Cambodia ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

There are no easy choices in Cambodia but we ca n't imagine that it benefits the U.S. to become the catalyst for an all-too-familiar process that could end in another round of horror in Cambodia


( S ( SBAR ( ADVP ( RB Now ) ) ( IN that ) ( S ( NP-SBJ-1 ( NNP Vietnam ) ) ( VP ( VBZ appears ) ( S ( VP ( TO to ) ( VP ( VB have ) ( VP ( VBN pulled ) ( PRT ( RP out ) ) ( NP ( PRP$ its ) ( NN occupation ) ( NN army ) ) ) ) ) ) ) ) ) ( NP-SBJ-2 ( DT the ) ( NNP State ) ( NNP Department ) ) ( VP ( VBZ is ) ( VP ( VBG talking ) ( ADVP-TMP ( RB again ) ) ( PP-CLR ( IN about ) ( S-NOM ( VP ( VBG accepting ) ( NP ( NP ( DT an ) ( JJ interim ) ( NN coalition ) ( NN government ) ) ( PP-LOC ( IN in ) ( NP ( NP ( DT the ) ( JJ Cambodian ) ( NN capital ) ) ( PP ( IN of ) ( NP ( NNP Phnom ) ( NNP Penh ) ) ) ) ) ) ) ) ) ) ) )

Now that Vietnam appears to have pulled out its occupation army the State Department is talking again about accepting an interim coalition government in the Cambodian capital of Phnom Penh


( S ( NP-SBJ ( DT The ) ( NN coalition ) ) ( VP ( MD would ) ( VP ( VB include ) ( NP ( NP ( DT the ) ( JJ current ) ( JJ Vietnamese-backed ) ( NNP Hun ) ( NNP Sen ) ( NN regime ) ) ( NP ( NP ( DT the ) ( CD two ) ( JJ non-communist ) ( NN resistance ) ( NNS groups ) ) ( VP ( VBN led ) ( PP ( IN by ) ( NP-LGS ( NP ( NNP Son ) ( NNP Sann ) ) ( CC and ) ( NP ( NNP Prince ) ( NNP Sihanouk ) ) ) ) ) ) ( CC and ) ( NP ( DT the ) ( NNP Khmer ) ( NNP Rouge ) ) ) ) ) )

The coalition would include the current Vietnamese-backed Hun Sen regime the two non-communist resistance groups led by Son Sann and Prince Sihanouk and the Khmer Rouge


( S ( NP-SBJ ( DT The ) ( NN aim ) ) ( VP ( MD would ) ( VP ( VB be ) ( S-PRD ( VP ( TO to ) ( VP ( VB end ) ( NP ( NP ( DT the ) ( NN guerrilla ) ( NN war ) ) ( PP ( IN for ) ( NP ( NP ( NN control ) ) ( PP ( IN of ) ( NP ( NNP Cambodia ) ) ) ) ) ) ( PP-MNR ( IN by ) ( S-NOM ( VP ( VBG allowing ) ( NP ( DT the ) ( NNP Khmer ) ( NNP Rouge ) ) ( NP ( NP ( DT a ) ( JJ small ) ( NN share ) ) ( PP ( IN of ) ( NP ( NN power ) ) ) ) ) ) ) ) ) ) ) ) )

The aim would be to end the guerrilla war for control of Cambodia by allowing the Khmer Rouge a small share of power


( S ( NP-SBJ ( DT The ) ( NNP State ) ( NNP Department ) ) ( VP ( VBZ says ) ( SBAR ( IN that ) ( S ( NP-SBJ-1 ( DT any ) ( NNP Khmer ) ( NNP Rouge ) ( NN participation ) ) ( VP ( MD would ) ( VP ( VB have ) ( S ( VP ( TO to ) ( VP ( VB be ) ( ADJP-PRD ( JJ minimal ) ) ) ) ) ) ) ) ) ) )

The State Department says that any Khmer Rouge participation would have to be minimal


( S ( NP-SBJ ( NP ( DT The ) ( JJ usual ) ( NN problem ) ) ( PP ( IN with ) ( S-NOM ( VP ( VBG including ) ( NP ( NNS communists ) ) ( PP-CLR ( IN in ) ( NP ( JJ interim ) ( NN coalition ) ( NNS governments ) ) ) ) ) ) ) ( VP ( VBZ is ) ( SBAR-PRD ( IN that ) ( S ( NP-SBJ ( PRP$ their ) ( NN ideology ) ( CC and ) ( NNS methods ) ) ( VP ( VBP require ) ( SBAR ( S ( NP-SBJ ( PRP they ) ) ( VP ( VBP squeeze ) ( PRT ( RP out ) ) ( NP ( NP ( NN everyone ) ) ( ADJP ( RB else ) ) ) ) ) ) ) ) ) ) )

The usual problem with including communists in interim coalition governments is that their ideology and methods require they squeeze out everyone else


( S ( VP ( VB Recall ) ( SBAR ( IN that ) ( S ( NP-SBJ ( NP ( NNP Nicaragua ) ( POS 's ) ) ( NNPS Sandinistas ) ) ( VP ( VBD came ) ( PP-DIR ( IN into ) ( NP ( NNP Managua ) ) ) ( PP ( IN as ) ( NP ( NP ( NNS partners ) ) ( PP-LOC ( IN in ) ( NP ( DT a ) ( NN coalition ) ( NN government ) ) ) ( PP ( IN with ) ( NP ( JJ anti-Somoza ) ( NNS moderates ) ) ) ) ) ) ) ) ) )

Recall that Nicaragua 's Sandinistas came into Managua as partners in a coalition government with anti-Somoza moderates


( S ( PP-TMP ( IN Within ) ( NP ( CD two ) ( NNS years ) ) ) ( S ( NP-SBJ-1 ( DT the ) ( NNS moderates ) ) ( VP ( VBD were ) ( UCP-PRD ( VP ( VBN exiled ) ) ( CC or ) ( PP-LOC ( IN in ) ( NP ( NN prison ) ) ) ) ) ) ( S ( NP-SBJ ( NNP Nicaragua ) ) ( VP ( VBD had ) ( VP ( VBN gone ) ( ADJP-PRD ( NN communist ) ) ) ) ) ( CC and ) ( S ( NP-SBJ ( DT the ) ( NNPS Sandinistas ) ) ( VP ( VBD were ) ( VP ( VP ( VBG building ) ( NP ( NP ( CD one ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( JJS biggest ) ( NNS armies ) ) ( PP-LOC ( IN in ) ( NP ( NNP Latin ) ( NNP America ) ) ) ) ) ) ) ( CC and ) ( VP ( VBG threatening ) ( NP ( PRP$ their ) ( NNS neighbors ) ) ) ) ) ) )

Within two years the moderates were exiled or in prison Nicaragua had gone communist and the Sandinistas were building one of the biggest armies in Latin America and threatening their neighbors


( S ( PP-LOC ( IN In ) ( NP ( NNP Laos ) ) ) ( SBAR-TMP ( WHADVP-1 ( WRB when ) ) ( S ( NP-SBJ ( DT the ) ( JJ Western ) ( NNS powers ) ) ( VP ( VBD bowed ) ( PP-CLR ( TO to ) ( NP ( NP ( VB pressure ) ) ( PP ( IN for ) ( NP ( PDT such ) ( DT a ) ( NN coalition ) ) ) ) ) ) ) ) ( NP-SBJ ( NP ( PRP it ) ) ) ( VP ( VBD turned ) ( PRT ( RP out ) ) ( SBAR-2 ( S ( NP-SBJ ( PRP they ) ) ( VP ( VBD were ) ( VP ( VBG opening ) ( NP ( DT the ) ( NN door ) ) ( PP-CLR ( TO to ) ( NP ( NN communist ) ( NN domination ) ) ) ) ) ) ) ) )

In Laos when the Western powers bowed to pressure for such a coalition it turned out they were opening the door to communist domination


( S ( NP-SBJ ( RB Even ) ( NP ( NNP Mao ) ( NNP Tse-tung ) ( POS 's ) ) ( NNP China ) ) ( VP ( VBD began ) ( PP-TMP ( IN in ) ( NP ( CD 1949 ) ) ) ( PP ( IN with ) ( NP ( NP ( DT a ) ( NN partnership ) ) ( PP ( IN between ) ( NP ( NP ( DT the ) ( NNS communists ) ) ( CC and ) ( NP ( NP ( DT a ) ( NN number ) ) ( PP ( IN of ) ( NP ( JJR smaller ) ( JJ non-communist ) ( NNS parties ) ) ) ) ) ) ) ) ) )

Even Mao Tse-tung 's China began in 1949 with a partnership between the communists and a number of smaller non-communist parties


( S ( SBAR-NOM-SBJ ( WHNP-1 ( WP What ) ) ( S ( VP ( VBZ complicates ) ( NP ( NP ( DT the ) ( NN scene ) ) ( PP-LOC ( IN in ) ( NP ( NNP Cambodia ) ) ) ) ) ) ) ( VP ( VBZ is ) ( SBAR-PRD ( IN that ) ( S ( NP-SBJ ( DT the ) ( JJ current ) ( NN regime ) ) ( VP ( VBZ is ) ( ADVP-TMP ( RB already ) ) ( ADJP-PRD ( JJ communist ) ) ( SBAR-ADV ( IN as ) ( SINV ( VP ( VBP are ) ) ( NP-SBJ ( NP ( PRP$ its ) ( JJ Vietnamese ) ( NNS overseers ) ) ( PP-LOC ( RB back ) ( IN in ) ( NP ( NNP Hanoi ) ) ) ) ) ) ( SBAR-ADV ( IN as ) ( SINV ( VP ( VBP are ) ) ( NP-SBJ ( NP ( DT the ) ( NNP Khmer ) ( NNP Rouge ) ) ( SBAR ( WHNP-2 ( WP who ) ) ( S ( VP ( VBP are ) ( NP-PRD ( NP ( DT the ) ( JJS strongest ) ) ( PP ( IN of ) ( NP ( DT the ) ( CD three ) ( NN guerrilla ) ( NNS groups ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

What complicates the scene in Cambodia is that the current regime is already communist as are its Vietnamese overseers back in Hanoi as are the Khmer Rouge who are the strongest of the three guerrilla groups


( S ( S ( NP-SBJ ( NP ( PRP It ) ) ) ( VP ( VBZ 's ) ( ADJP-PRD ( RB not ) ( JJ clear ) ) ( SBAR-2 ( WHNP-1 ( NP ( WDT which ) ( NN crew ) ) ( PP ( IN of ) ( NP ( NNS communists ) ) ) ) ( S ( VP ( MD might ) ( VP ( VB prevail ) ( PP-LOC ( IN in ) ( NP ( DT a ) ( NN coalition ) ( NN government ) ) ) ) ) ) ) ) ) ( CC but ) ( S ( NP-SBJ ( DT the ) ( CD one ) ( JJ good ) ( NN bet ) ) ( VP ( VBZ is ) ( SBAR-PRD ( IN that ) ( S ( NP-SBJ ( DT the ) ( NNS non-communists ) ) ( VP ( MD would ) ( VP ( VB disappear ) ) ) ) ) ) ) )

It 's not clear which crew of communists might prevail in a coalition government but the one good bet is that the non-communists would disappear


( S ( NP-SBJ ( DT That ) ) ( VP ( MD would ) ( VP ( VB leave ) ( NP ( NP ( NNP Hun ) ( NNP Sen ) ) ( CC and ) ( NP ( DT the ) ( NNP Khmer ) ( NNP Rouge ) ) ) ) ) )

That would leave Hun Sen and the Khmer Rouge


( S ( NP-SBJ ( DT The ) ( NNP Hun ) ( NNP Sen ) ( NN regime ) ) ( VP ( VBZ has ) ( VP ( VBN sent ) ( S ( NP-SBJ-1 ( NP ( NNS thousands ) ) ( PP ( IN of ) ( NP ( JJ conscript ) ( NNS laborers ) ) ) ) ( VP ( TO to ) ( VP ( VB die ) ( PP-CLR ( IN of ) ( NP ( NN malaria ) ( CC and ) ( NN malnourishment ) ) ) ( SBAR-TMP ( IN while ) ( S ( VP ( VBG building ) ( NP ( NP ( NP ( NNP Cambodia ) ( POS 's ) ) ( NN equivalent ) ) ( PP ( IN of ) ( NP ( DT the ) ( NNP Berlin ) ( NNP Wall ) ) ) ) ( PP-LOC ( IN near ) ( NP ( DT the ) ( NNP Thai ) ( NN border ) ) ) ) ) ) ) ) ) ) ) )

The Hun Sen regime has sent thousands of conscript laborers to die of malaria and malnourishment while building Cambodia 's equivalent of the Berlin Wall near the Thai border


( S ( NP-SBJ ( DT The ) ( NNP Khmer ) ( NNP Rouge ) ) ( ADVP ( RB however ) ) ( VP ( VBP carry ) ( NP ( NP ( DT an ) ( JJ unsurpassed ) ( NN record ) ) ( PP ( IN for ) ( NP ( JJ Cambodian ) ( NN tyranny ) ) ) ) ) )

The Khmer Rouge however carry an unsurpassed record for Cambodian tyranny


( S ( NP-SBJ ( DT These ) ( NNS utopians ) ) ( VP ( VBD caused ) ( NP ( NP ( DT the ) ( NNS deaths ) ) ( PRN ( PP ( IN by ) ( NP ( NN starvation ) ( NN disease ) ( CC or ) ( NN execution ) ) ) ) ( PP ( IN of ) ( NP ( QP ( RB well ) ( IN over ) ( CD one ) ( CD million ) ) ( NNPS Cambodians ) ) ) ) ) )

These utopians caused the deaths by starvation disease or execution of well over one million Cambodians


( S ( NP-SBJ ( DT The ) ( JJ Cambodian ) ( NN horror ) ) ( VP ( VBD was ) ( ADJP-PRD ( ADJP ( RB so ) ( JJ bad ) ) ( SBAR ( IN that ) ( S ( NP-SBJ ( NP ( DT the ) ( JJ Vietnamese ) ( NN occupation ) ) ( PP-TMP ( IN in ) ( NP ( CD 1978 ) ) ) ) ( VP ( VBD was ) ( NP-PRD ( NP ( DT a ) ( JJ perverse ) ( NN form ) ) ( PP ( IN of ) ( NP ( NN relief ) ) ) ) ) ) ) ) ) )

The Cambodian horror was so bad that the Vietnamese occupation in 1978 was a perverse form of relief


( S ( NP-SBJ-1 ( DT The ) ( NN world ) ) ( VP ( MD might ) ( VP ( VB want ) ( S ( VP ( TO to ) ( VP ( VB believe ) ( SBAR ( IN that ) ( S ( NP-SBJ ( DT the ) ( NNP Khmer ) ( NNP Rouge ) ) ( VP ( MD ca ) ( RB n't ) ( ADVP-TMP ( RB still ) ) ( VP ( VB be ) ( NP-PRD ( JJ such ) ( JJ bad ) ( NNS guys ) ) ) ) ) ) ) ) ) ( SBAR-ADV ( RB just ) ( IN as ) ( S ( PP-TMP ( IN in ) ( NP ( DT the ) ( JJ late ) ( CD 1970s ) ) ) ( NP-SBJ-2 ( PRP it ) ) ( VP ( VBD was ) ( ADJP-PRD ( JJ reluctant ) ( S ( VP ( TO to ) ( VP ( VB credit ) ( NP ( NP ( DT the ) ( NNS reports ) ) ( PP ( IN of ) ( NP ( NP ( NN genocide ) ) ( VP ( ADVP-TMP ( RB then ) ) ( VBG taking ) ( NP ( NN place ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

The world might want to believe that the Khmer Rouge ca n't still be such bad guys just as in the late 1970s it was reluctant to credit the reports of genocide then taking place


( S ( CC But ) ( NP-SBJ ( EX there ) ) ( VP ( VBZ is ) ( NP-PRD ( DT no ) ( JJ solid ) ( NN evidence ) ( SBAR ( IN that ) ( S ( NP-SBJ ( DT the ) ( NNP Khmer ) ( NNP Rouge ) ) ( VP ( VBP have ) ( VP ( VBN changed ) ) ) ) ) ) ) )

But there is no solid evidence that the Khmer Rouge have changed


( S ( NP-SBJ ( NP ( DT Some ) ) ( PP ( IN of ) ( NP ( NP ( PRP$ our ) ( NNS sources ) ) ( PP-LOC ( IN in ) ( NP ( NNP Thailand ) ) ) ) ) ) ( VP ( VBP say ) ( SBAR ( S ( NP-SBJ-1 ( NP ( DT the ) ( JJ notorious ) ( JJ old ) ( NNP Khmer ) ( NNP Rouge ) ( NN leader ) ) ( NP ( NNP Pol ) ( NNP Pot ) ) ) ( VP ( VBZ has ) ( VP ( VBN been ) ( VP ( VBN holed ) ( PRT ( RP up ) ) ( NP-TMP ( DT this ) ( NN summer ) ) ( PP-LOC ( IN in ) ( NP ( NP ( NNP Khmer ) ( NNP Rouge ) ( NNS camps ) ) ( PP-LOC ( IN near ) ( NP ( DT the ) ( JJ Thai-Cambodian ) ( NN border ) ) ) ) ) ) ) ) ) ) ) )

Some of our sources in Thailand say the notorious old Khmer Rouge leader Pol Pot has been holed up this summer in Khmer Rouge camps near the Thai-Cambodian border


( S ( IN So ) ( NP-SBJ ( NP ( PRP it ) ) ) ( VP ( VBZ 's ) ( ADJP-PRD ( JJ difficult ) ) ( S-2 ( VP ( TO to ) ( VP ( VB swallow ) ( NP ( DT the ) ( NN notion ) ( SBAR ( IN that ) ( S ( NP-SBJ-3 ( NNP Mr. ) ( NNP Baker ) ) ( VP ( VBZ is ) ( ADJP-PRD ( JJ willing ) ( S ( VP ( TO to ) ( VP ( VB accept ) ( NP ( NP ( NNS conditions ) ) ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( VP ( MD would ) ( VP ( VB help ) ( S ( NP-SBJ ( DT the ) ( NNP Khmer ) ( NNP Rouge ) ) ( VP ( VBD set ) ( PRT ( RP up ) ) ( NP ( NN shop ) ) ( ADVP-TMP ( RB again ) ) ( PP-LOC ( IN in ) ( NP ( NNP Phnom ) ( NNP Penh ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

So it 's difficult to swallow the notion that Mr. Baker is willing to accept conditions that would help the Khmer Rouge set up shop again in Phnom Penh


( S ( ADVP ( JJ True ) ) ( NP-SBJ ( NNP Prince ) ( NNP Sihanouk ) ) ( VP ( VBZ backs ) ( NP ( NP ( DT the ) ( NN idea ) ) ( PP ( IN of ) ( NP ( PDT such ) ( DT a ) ( NN coalition ) ) ) ) ( PP-TMP ( ADVP ( IN at ) ( JJS least ) ) ( IN for ) ( NP ( DT this ) ( NN week ) ) ) ) )

True Prince Sihanouk backs the idea of such a coalition at least for this week


( S ( CC But ) ( NP-SBJ ( NNP Prince ) ( NNP Sihanouk ) ) ( VP ( VBZ has ) ( VP ( VP ( VBN backed ) ( NP ( NP ( DT all ) ( NNS sorts ) ) ( PP ( IN of ) ( NP ( NNS ideas ) ) ) ) ( PP-TMP ( IN over ) ( NP ( DT the ) ( NNS years ) ) ) ) ( CC and ) ( VP ( VBN done ) ( ADVP ( ADVP ( RB rather ) ( RB better ) ) ( PP ( IN by ) ( NP ( PRP himself ) ) ) ( PP ( IN than ) ( PP ( IN by ) ( NP ( NNP Cambodia ) ) ) ) ) ) ) ) )

But Prince Sihanouk has backed all sorts of ideas over the years and done rather better by himself than by Cambodia


( SINV ( CC Nor ) ( MD should ) ( NP-SBJ-2 ( DT the ) ( NNP U.S. ) ) ( VP ( VB worry ) ( ADVP ( RB much ) ) ( PP-CLR ( IN about ) ( S-NOM ( VP ( VBG offending ) ( NP ( NP ( NNP China ) ) ( SBAR ( WHNP-1 ( WDT which ) ) ( S ( ADVP-TMP ( RB still ) ) ( VP ( VBZ aids ) ( NP ( DT the ) ( NNP Khmer ) ( NNP Rouge ) ) ) ) ) ) ) ) ) ) )

Nor should the U.S. worry much about offending China which still aids the Khmer Rouge


( S ( NP-SBJ ( PRP It ) ) ( VP ( VBZ 's ) ( NP-PRD ( NP ( NN time ) ) ( SBAR ( S ( NP-SBJ ( DT the ) ( NNP State ) ( NNP Department ) ) ( VP ( VBD recognized ) ( SBAR ( IN that ) ( S ( NP-SBJ ( NNP China ) ) ( VP ( VBZ does ) ( RB not ) ( VP ( VB play ) ( PP-MNR ( IN by ) ( NP ( NP ( NNS gentlemen ) ( POS 's ) ) ( NNS rules ) ) ) ) ) ) ) ) ) ) ) ) )

It 's time the State Department recognized that China does not play by gentlemen 's rules


( S ( SBAR-NOM-SBJ ( IN For ) ( S ( NP-SBJ ( DT the ) ( NNP U.S. ) ) ( VP ( TO to ) ( VP ( VB lend ) ( NP ( RB even ) ( DT the ) ( JJS slightest ) ( NN support ) ) ( PP-DTV ( TO to ) ( NP ( NP ( DT the ) ( ADJP ( RBS most ) ( JJ infamous ) ) ( NNS killers ) ) ( PP-LOC ( IN on ) ( NP ( NP ( NNP Indochina ) ( POS 's ) ) ( JJ bleak ) ( NN scene ) ) ) ) ) ) ) ) ) ( VP ( MD could ) ( ADVP ( RB only ) ) ( VP ( VB disturb ) ( NP ( NP ( NP ( NNP America ) ( POS 's ) ) ( NNS allies ) ) ( ADVP-LOC ( RB elsewhere ) ) ) ) ) )

For the U.S. to lend even the slightest support to the most infamous killers on Indochina 's bleak scene could only disturb America 's allies elsewhere


( S ( NP-SBJ ( NP ( PRP It ) ) ) ( VP ( MD would ) ( VP ( VB be ) ( ADJP-PRD ( RB entirely ) ( JJ rational ) ) ( SBAR-1 ( IN for ) ( S ( NP-SBJ ( NP ( NN communist ) ( NNS insurgents ) ) ( PP-LOC ( IN in ) ( NP ( NP ( NNS countries ) ) ( PP ( JJ such ) ( IN as ) ( NP ( NP ( DT the ) ( NNP Philippines ) ) ( CC or ) ( NP ( NNP Peru ) ) ) ) ) ) ) ( VP ( TO to ) ( VP ( VB conclude ) ( NP ( NP ( DT the ) ( NN following ) ) ( S ( S ( VP ( VB Fight ) ( ADVP-MNR ( RB viciously ) ( RB enough ) ) ) ) ( CC and ) ( S ( NP-SBJ ( DT the ) ( NNP U.S. ) ) ( PP ( IN under ) ( NP ( NP ( DT the ) ( NN banner ) ) ( PP ( IN of ) ( NP ( NN pragmatism ) ) ) ) ) ( VP ( MD might ) ( ADVP-TMP ( RB eventually ) ) ( VP ( VB help ) ( S ( VP ( VB negotiate ) ( NP ( NP ( PRP$ your ) ( NN way ) ) ( PP ( TO to ) ( NP ( NN victory ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

It would be entirely rational for communist insurgents in countries such as the Philippines or Peru to conclude the following Fight viciously enough and the U.S. under the banner of pragmatism might eventually help negotiate your way to victory


( S ( S ( NP-SBJ ( NNP U.S. ) ( NN diplomacy ) ) ( VP ( VBZ has ) ( VP ( VBN done ) ( NP ( PRP it ) ) ( ADVP-TMP ( IN before ) ) ) ) ) ( CC and ) ( S ( NP-SBJ ( PRP it ) ) ( VP ( MD will ) ( ADVP ( RB likely ) ) ( VP ( VB do ) ( NP ( PRP it ) ) ( ADVP-TMP ( RB again ) ) ) ) ) )

U.S. diplomacy has done it before and it will likely do it again


( S ( NP-SBJ ( NP ( DT The ) ( NN administration ) ) ( CC and ) ( NP ( NNP Congress ) ) ) ( VP ( VBP have ) ( ADVP-TMP ( RB lately ) ) ( VP ( VBD tangoed ) ( PP-CLR ( IN around ) ( NP ( NP ( DT the ) ( NN idea ) ) ( PP ( IN of ) ( S-NOM ( VP ( VBG sending ) ( NP ( JJ military ) ( NN aid ) ) ( PP-DTV ( TO to ) ( NP ( NP ( NNP Cambodia ) ( POS 's ) ) ( NNS non-communists ) ) ) ) ) ) ) ) ) ) )

The administration and Congress have lately tangoed around the idea of sending military aid to Cambodia 's non-communists


( S ( CC But ) ( ADVP-TMP ( RB now ) ) ( NP-SBJ ( NP ( DT the ) ( NN possibility ) ) ( PP ( IN of ) ( NP ( NP ( JJ diplomatic ) ( NN movement ) ) ( PRN ( NP ( NP ( NP ( NNP Vietnam ) ( POS 's ) ) ( NN withdrawal ) ) ( NP ( DT the ) ( NNP Baker ) ( NN initiative ) ) ) ) ) ) ) ( VP ( VBZ has ) ( VP ( VBN put ) ( NP ( DT that ) ( NN plan ) ) ( PP-PUT ( IN on ) ( NP ( NN hold ) ) ) ( PP ( IN with ) ( NP ( DT the ) ( NN proviso ) ( SBAR ( IN that ) ( S ( SBAR-ADV ( IN if ) ( S ( NP-SBJ ( DT the ) ( NN going ) ) ( VP ( VBD got ) ( ADJP-PRD ( JJ rough ) ) ) ) ) ( NP-SBJ ( DT the ) ( NNP U.S. ) ) ( VP ( MD would ) ( ADVP-TMP ( RB then ) ) ( VP ( VB rearm ) ( NP ( DT the ) ( NN opposition ) ) ) ) ) ) ) ) ) ) )

But now the possibility of diplomatic movement Vietnam 's withdrawal the Baker initiative has put that plan on hold with the proviso that if the going got rough the U.S. would then rearm the opposition


( FRAG ( WHADVP ( WRB Why ) ) ( NP ( DT the ) ( NN timidity ) ) )

Why the timidity


( S ( PP ( IN At ) ( NP ( DT the ) ( RB very ) ( JJS least ) ) ) ( NP-SBJ-1 ( DT the ) ( NNS odds ) ) ( VP ( VBP are ) ( VP ( ADVP-MNR ( RB heavily ) ) ( VBN weighted ) ( PP ( IN against ) ( NP ( NP ( DT the ) ( NNS prospects ) ) ( PP ( IN of ) ( S-NOM ( VP ( VBG preventing ) ( NP-2 ( NP ( DT the ) ( NNP Khmer ) ( NNP Rouge ) ) ( CC and ) ( NP ( NP ( NNP Cambodia ) ( POS 's ) ) ( NNS communists ) ) ) ( PP-CLR ( IN from ) ( S-NOM ( ADVP-TMP ( RB ultimately ) ) ( VP ( VBG moving ) ( PP-CLR ( IN against ) ( NP ( PRP$ their ) ( NNS opponents ) ) ) ) ) ) ) ) ) ) ) ) ) )

At the very least the odds are heavily weighted against the prospects of preventing the Khmer Rouge and Cambodia 's communists from ultimately moving against their opponents


( S ( SBAR-TMP ( WHADVP-1 ( WRB When ) ) ( S ( NP-SBJ ( DT that ) ( NN day ) ) ( VP ( VBZ comes ) ) ) ) ( NP-SBJ ( NP ( PRP it ) ) ) ( VP ( MD would ) ( VP ( VB be ) ( ADJP-PRD ( RB particularly ) ( JJ awful ) ) ( S-2 ( VP ( TO to ) ( VP ( VB know ) ( SBAR ( IN that ) ( S ( NP-SBJ ( DT the ) ( NNP United ) ( NNPS States ) ) ( VP ( VP ( VBD sat ) ( PP-CLR ( IN on ) ( NP ( JJ military ) ( NN aid ) ) ) ) ( CC and ) ( VP ( VBD deprived ) ( NP ( DT these ) ( NNS people ) ) ( PP-CLR ( IN of ) ( NP ( NP ( DT the ) ( NNS means ) ) ( SBAR ( S ( VP ( TO to ) ( VP ( VB settle ) ( NP ( PRP$ their ) ( NN fate ) ) ( PP ( IN with ) ( NP ( ADVP ( IN at ) ( JJS least ) ) ( DT a ) ( JJ little ) ( NN honor ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

When that day comes it would be particularly awful to know that the United States sat on military aid and deprived these people of the means to settle their fate with at least a little honor


( S ( NP-SBJ ( NP ( NNP Hotel ) ( NNPS Investors ) ( NNP Trust ) ) ( CC and ) ( NP ( NP ( PRP$ its ) ( NN affiliate ) ) ( NP ( NNP Hotel ) ( NNPS Investors ) ( NNP Corp. ) ) ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ-2 ( DT the ) ( NNS companies ) ) ( VP ( VBP plan ) ( S ( VP ( TO to ) ( VP ( VB sell ) ( NP ( NP ( DT all ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( NNS hotels ) ) ( SBAR ( S ( NP-SBJ ( DT the ) ( NNS companies ) ) ( VP ( VBP own ) ( CC and ) ( VBP operate ) ) ) ) ) ) ( PP ( IN except ) ( PP ( IN for ) ( NP ( NP ( CD two ) ( NNS hotel-casinos ) ) ( PP-LOC ( IN in ) ( NP ( NP ( NNP Las ) ( NNP Vegas ) ) ( NP ( NNP Nev ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Hotel Investors Trust and its affiliate Hotel Investors Corp. said the companies plan to sell all of the hotels the companies own and operate except for two hotel-casinos in Las Vegas Nev


( SINV ( S-TPC-2 ( NP-SBJ-1 ( DT The ) ( NX ( NX ( NNS hotels ) ) ( CC and ) ( NX ( NN management ) ( NNS interests ) ) ) ) ( VP ( MD will ) ( VP ( VB be ) ( VP ( VBN sold ) ( PP-LOC ( IN at ) ( NP ( DT an ) ( NN auction ) ) ) ) ) ) ) ( VP ( VBD said ) ) ( NP-SBJ ( NP ( NNP John ) ( NNP Rothman ) ) ( NP ( NP ( NP ( NP ( NN president ) ) ( CC and ) ( NP ( NN chief ) ( JJ executive ) ( NN officer ) ) ) ( PP ( IN of ) ( NP ( DT the ) ( NN trust ) ) ) ) ( CC and ) ( NP ( NP ( DT a ) ( NN director ) ) ( PP ( IN of ) ( NP ( DT the ) ( NN corporation ) ) ) ) ) ) )

The hotels and management interests will be sold at an auction said John Rothman president and chief executive officer of the trust and a director of the corporation


( S ( NP-SBJ-1 ( NP ( NN Value ) ) ( PP ( IN of ) ( NP ( DT the ) ( NX ( NX ( NNS properties ) ) ( CC and ) ( NX ( NN management ) ( NNS interests ) ) ) ) ) ) ( VP ( VBD was ) ( RB n't ) ( VP ( VBN disclosed ) ) ) )

Value of the properties and management interests was n't disclosed


( S ( PP ( IN In ) ( NP ( DT all ) ) ) ( NP-SBJ-1 ( DT the ) ( ADJP ( NNP Los ) ( JJ Angeles-based ) ) ( NN trust ) ) ( VP ( VBZ plans ) ( S ( VP ( TO to ) ( VP ( VB sell ) ( NP ( NP ( PRP$ its ) ( NNS interests ) ) ( PP ( IN in ) ( NP ( CD 36 ) ( NNS hotels ) ) ) ) ) ) ) ( SBAR-ADV ( IN while ) ( S ( NP-SBJ ( DT the ) ( NN corporation ) ) ( VP ( MD will ) ( VP ( VB sell ) ( NP ( NP ( PRP$ its ) ( NN management ) ( NNS interests ) ) ( PP ( IN in ) ( NP ( NP ( CD 32 ) ) ( PP ( IN of ) ( NP ( DT those ) ( NNS properties ) ) ) ) ) ) ) ) ) ) ) )

In all the Los Angeles-based trust plans to sell its interests in 36 hotels while the corporation will sell its management interests in 32 of those properties


( SINV ( VP-TPC-2 ( VBN Excluded ) ( PP-CLR ( IN from ) ( NP ( DT the ) ( NN sale ) ) ) ) ( VP ( VBP are ) ) ( NP-SBJ-1 ( NP ( DT the ) ( NNS interests ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( NN trust ) ) ( CC and ) ( NP ( DT the ) ( NN corporation ) ) ) ) ( PP ( IN in ) ( NP ( CD two ) ( NNP Las ) ( NNP Vegas ) ( NNS hotel-casinos ) ) ) ) )

Excluded from the sale are the interests of the trust and the corporation in two Las Vegas hotel-casinos


( S ( PP-TMP ( IN After ) ( S-NOM ( VP ( VP ( VBG completing ) ( NP ( DT the ) ( NN sale ) ) ) ( CC and ) ( VP ( VBG paying ) ( NP ( NNS debts ) ) ) ) ) ) ( NP-SBJ-1 ( DT the ) ( NN trust ) ( CC and ) ( NN corporation ) ) ( VP ( MD will ) ( VP ( VB consider ) ( NP ( NP ( DT a ) ( NN number ) ) ( PP ( IN of ) ( NP ( NNS options ) ) ) ( PP ( VBG including ) ( NP ( NP ( DT a ) ( NN stock ) ( NN repurchase ) ) ( NP ( NP ( NN payment ) ) ( PP ( IN of ) ( NP ( JJ special ) ( NN dividend ) ) ) ) ( CC or ) ( NP ( NP ( NN investment ) ) ( PP ( IN in ) ( NP ( JJR more ) ( NN gaming ) ( NNS properties ) ) ) ) ) ) ) ) ) )

After completing the sale and paying debts the trust and corporation will consider a number of options including a stock repurchase payment of special dividend or investment in more gaming properties


( S ( S-TPC-1 ( NP-SBJ ( DT The ) ( NNS companies ) ) ( VP ( MD will ) ( VP ( VB retain ) ( NP ( NP ( PRP$ their ) ( JJ current ) ( JJ regular ) ( JJ quarterly ) ( NN dividend ) ) ( PP ( IN of ) ( NP ( CD 25 ) ( NNS cents ) ) ) ) ( PP-TMP ( IN during ) ( NP ( DT the ) ( NN sale ) ( NN process ) ) ) ) ) ) ( NP-SBJ ( NNP Mr. ) ( NNP Rothman ) ) ( VP ( VBD said ) ) )

The companies will retain their current regular quarterly dividend of 25 cents during the sale process Mr. Rothman said


( S ( PP-TMP ( IN For ) ( NP ( DT the ) ( JJ first ) ( CD six ) ( NNS months ) ) ) ( NP-SBJ ( DT the ) ( NN trust ) ( CC and ) ( NN corporation ) ) ( VP ( VBD had ) ( NP ( NP ( DT a ) ( JJ net ) ( NN loss ) ) ( PP ( IN of ) ( NP ( CD 244,000 ) ) ) ) ) )

For the first six months the trust and corporation had a net loss of 244,000


( S ( NP-SBJ ( NNS STOCKS ) ( CC AND ) ( NNS BONDS ) ) ( VP ( VBD SURGED ) ( PP-TMP ( IN on ) ( NP ( NP ( DT the ) ( JJ second ) ( NN anniversary ) ) ( PP ( IN of ) ( NP ( NNP Black ) ( NNP Monday ) ) ) ) ) ( SBAR-ADV ( IN as ) ( S ( NP-SBJ ( DT a ) ( JJ favorable ) ( NN inflation ) ( NN report ) ) ( VP ( VBD prompted ) ( NP ( NP ( NN speculation ) ) ( PP ( IN of ) ( NP ( JJR lower ) ( NN interest ) ( NNS rates ) ) ) ) ) ) ) ) )

STOCKS AND BONDS SURGED on the second anniversary of Black Monday as a favorable inflation report prompted speculation of lower interest rates


( S ( NP-SBJ-1 ( DT The ) ( NNP Dow ) ( NNP Jones ) ( NNS industrials ) ) ( VP ( VBD closed ) ( ADVP-CLR ( RB up ) ( NP ( CD 39.55 ) ) ) ( PP-CLR ( IN at ) ( NP ( CD 2683.20 ) ) ) ( PP-TMP ( IN after ) ( S-NOM ( VP ( VBG rising ) ( NP-EXT ( QP ( IN over ) ( CD 60 ) ) ( NNS points ) ) ( PP-TMP ( IN in ) ( NP ( RB mid-afternoon ) ) ) ) ) ) ) )

The Dow Jones industrials closed up 39.55 at 2683.20 after rising over 60 points in mid-afternoon


( S ( NP-SBJ ( DT The ) ( NN rally ) ) ( VP ( VBD brought ) ( NP ( NP ( DT the ) ( NN gain ) ) ( NP-TMP ( ADVP ( RB so ) ( RB far ) ) ( DT this ) ( NN week ) ) ) ( PP-DIR ( TO to ) ( NP ( QP ( IN about ) ( CD 114 ) ) ( NNS points ) ) ) ) )

The rally brought the gain so far this week to about 114 points


( S ( NP-SBJ-1 ( DT The ) ( NN dollar ) ) ( VP ( VBD finished ) ( S-ADV ( ADJP-PRD ( VBN mixed ) ) ) ( SBAR-ADV ( IN while ) ( S ( NP-SBJ ( NN gold ) ) ( VP ( VBD declined ) ) ) ) ) )

The dollar finished mixed while gold declined


( S ( NP-SBJ ( NN Consumer ) ( NNS prices ) ) ( VP ( VBD climbed ) ( NP-EXT ( DT a ) ( JJ moderate ) ( CD 0.2 ) ( NN % ) ) ( PP-TMP ( IN in ) ( NP ( NNP September ) ) ) ( PP-PRP ( RB mostly ) ( JJ due ) ( PP ( TO to ) ( NP ( JJR higher ) ( NN clothing ) ( NNS costs ) ) ) ) ) )

Consumer prices climbed a moderate 0.2 % in September mostly due to higher clothing costs


( S ( S ( NP-SBJ-1 ( NN Energy ) ( NNS prices ) ) ( VP ( VBD continued ) ( S ( VP ( TO to ) ( VP ( VB fall ) ) ) ) ( PP-LOC ( IN at ) ( NP ( DT the ) ( JJ retail ) ( NN level ) ) ) ) ) ( CC but ) ( S ( NP-SBJ ( NNS economists ) ) ( VP ( VBN worried ) ( PP-CLR ( IN about ) ( NP ( NP ( DT a ) ( JJ big ) ( NN rise ) ) ( PP-LOC ( IN in ) ( NP ( JJ wholesale ) ( NN energy ) ( NNS costs ) ) ) ) ) ) ) )

Energy prices continued to fall at the retail level but economists worried about a big rise in wholesale energy costs


( S ( NP-SBJ-1 ( NNP British ) ( NNPS Airways ) ) ( VP ( VBD dropped ) ( PP-DIR ( IN out ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( JJ current ) ( NN bidding ) ) ( PP ( IN for ) ( NP ( NP ( NNP United ) ( NNP Air ) ( POS 's ) ) ( NN parent ) ) ) ) ) ) ( S-ADV ( VP ( VBG leaving ) ( NP ( DT a ) ( NNP UAL ) ( JJ management-pilots ) ( NN group ) ) ( PP-CLR ( IN without ) ( NP ( DT a ) ( JJ key ) ( NN partner ) ) ) ) ) ) )

British Airways dropped out of the current bidding for United Air 's parent leaving a UAL management-pilots group without a key partner


( S ( NP-SBJ ( NP ( NNP British ) ( NNP Air ) ( POS 's ) ) ( NN move ) ) ( VP ( VBD raised ) ( NP ( NP ( JJ new ) ( NNS questions ) ) ( PP ( IN about ) ( NP ( NP ( DT the ) ( NN buy-out ) ( NN group ) ( POS 's ) ) ( NNS efforts ) ( S ( VP ( TO to ) ( VP ( VB revive ) ( NP ( NP ( DT a ) ( VBN stalled ) ( NN bid ) ) ( PP ( IN for ) ( NP ( NNP UAL ) ) ) ) ) ) ) ) ) ) ) )

British Air 's move raised new questions about the buy-out group 's efforts to revive a stalled bid for UAL


( S ( NP-SBJ-1 ( DT A ) ( JJ capital-gains ) ( JJ tax-cut ) ( NN plan ) ) ( VP ( VBD was ) ( VP ( VBN dropped ) ( PP ( IN by ) ( NP-LGS ( NNP Senate ) ( NNPS Democrats ) ) ) ( PP ( IN under ) ( NP ( NP ( NN pressure ) ) ( PP ( IN from ) ( NP ( PRP$ their ) ( NN leadership ) ) ) ) ) ) ) )

A capital-gains tax-cut plan was dropped by Senate Democrats under pressure from their leadership


( S ( NP-SBJ ( DT The ) ( NN move ) ) ( VP ( VBZ is ) ( NP-PRD ( NP ( DT a ) ( NN setback ) ) ( PP ( IN for ) ( NP ( NP ( NNP Bush ) ) ( SBAR ( WHNP-1 ( WP who ) ) ( S ( VP ( VBZ needs ) ( NP ( JJ Democratic ) ( NN support ) ) ( S-PRP ( VP ( TO to ) ( VP ( VB pass ) ( NP ( DT a ) ( NN capital-gains ) ( NN cut ) ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( NNP Senate ) ) ) ) ) ) ) ) ) ) ) ) ) )

The move is a setback for Bush who needs Democratic support to pass a capital-gains cut in the Senate


( S ( NP-SBJ-2 ( JJ Other ) ( NN tax ) ( NNS breaks ) ) ( ADVP ( RB also ) ) ( VP ( VBP are ) ( ADJP-PRD ( JJ likely ) ( S ( VP ( TO to ) ( VP ( VB be ) ( VP ( VBN restored ) ( CC or ) ( VBN created ) ( PP-TMP ( IN in ) ( NP ( DT the ) ( VBG coming ) ( NNS months ) ) ) ) ) ) ) ) ( SBAR-ADV ( IN as ) ( S ( NP-SBJ-1 ( JJ special ) ( NN interest ) ( NNS groups ) ) ( VP ( VBP try ) ( S ( VP ( TO to ) ( VP ( VB undo ) ( NP ( DT the ) ( CD 1986 ) ( NN tax ) ( NN overhaul ) ) ) ) ) ) ) ) ) )

Other tax breaks also are likely to be restored or created in the coming months as special interest groups try to undo the 1986 tax overhaul


( S ( NP-SBJ-1 ( JJ Many ) ( NNS retailers ) ) ( VP ( VBP are ) ( VP ( VBN worried ) ( SBAR ( IN that ) ( S ( NP-SBJ ( DT a ) ( NN price ) ( NN war ) ) ( VP ( MD could ) ( VP ( VB erupt ) ( NP-TMP ( DT this ) ( NNP Christmas ) ) ( SBAR-ADV ( IN if ) ( S ( NP-SBJ-2 ( NP ( JJ cash-strapped ) ( NNS firms ) ) ( PP ( JJ such ) ( IN as ) ( NP ( NNP Campeau ) ) ) ) ( VP ( VBP slash ) ( NP ( NNS prices ) ) ( S-PRP ( VP ( TO to ) ( VP ( VB spur ) ( NP ( NNS sales ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Many retailers are worried that a price war could erupt this Christmas if cash-strapped firms such as Campeau slash prices to spur sales


( S ( NP-SBJ ( NNP AT&T ) ) ( VP ( VBD unveiled ) ( NP ( NP ( DT a ) ( VBN sweetened ) ( JJ early ) ( NN retirement ) ( NN plan ) ) ( PP ( IN for ) ( NP ( NN management ) ) ) ( SBAR ( WHNP-1 ( IN that ) ) ( S ( NP-SBJ ( DT the ) ( NN company ) ) ( VP ( VBZ hopes ) ( SBAR ( S ( VP ( MD will ) ( VP ( VB save ) ( NP ( PRP it ) ) ( NP ( QP ( CD 450 ) ( CD million ) ) ) ( PP-TMP ( IN in ) ( NP ( DT the ) ( JJ next ) ( NN year ) ) ) ) ) ) ) ) ) ) ) ) )

AT&T unveiled a sweetened early retirement plan for management that the company hopes will save it 450 million in the next year


( S ( ADVP ( RB Also ) ) ( NP-SBJ ( NN profit ) ) ( VP ( VBD rose ) ( NP-EXT ( CD 19 ) ( NN % ) ) ( PP-TMP ( IN in ) ( NP ( DT the ) ( JJ third ) ( NN quarter ) ) ) ) )

Also profit rose 19 % in the third quarter


( S ( NP-SBJ ( NNP Chrysler ) ) ( VP ( MD will ) ( VP ( VB idle ) ( NP ( DT a ) ( NNP Toledo ) ( NN assembly ) ( NN plant ) ) ( ADVP-TMP ( RB temporarily ) ) ( PP-PRP ( JJ due ) ( PP ( TO to ) ( NP ( NP ( VBG slowing ) ( NNS sales ) ) ( PP ( IN of ) ( NP ( PRP$ its ) ( JJ profitable ) ( NNP Jeep ) ( NNP Cherokee ) ( CC and ) ( NNP Wagoneer ) ( NN sport ) ( NN utility ) ( NNS vehicles ) ) ) ) ) ) ) ) )

Chrysler will idle a Toledo assembly plant temporarily due to slowing sales of its profitable Jeep Cherokee and Wagoneer sport utility vehicles


( S ( NP-SBJ ( NP ( NNP Digital ) ( NNP Equipment ) ( POS 's ) ) ( NN profit ) ) ( VP ( VBD fell ) ( NP-EXT ( CD 32 ) ( NN % ) ) ( PP-TMP ( IN in ) ( NP ( DT the ) ( JJS latest ) ( NN quarter ) ) ) ( S-ADV ( VP ( VBG prompting ) ( NP ( NP ( NNS forecasts ) ) ( PP ( IN of ) ( NP ( NP ( JJR weaker ) ( NNS results ) ) ( ADVP-TMP ( RB ahead ) ) ) ) ) ) ) ) )

Digital Equipment 's profit fell 32 % in the latest quarter prompting forecasts of weaker results ahead


( S ( NP-SBJ-1 ( NNS Analysts ) ) ( VP ( VBD were ) ( VP ( VBN troubled ) ( PP ( IN by ) ( NP-LGS ( NP ( NNS signs ) ) ( PP ( IN of ) ( NP ( JJ flat ) ( NNP U.S. ) ( NNS orders ) ) ) ( PP-LOC ( IN at ) ( NP ( DT the ) ( NN computer ) ( NN maker ) ) ) ) ) ) ) )

Analysts were troubled by signs of flat U.S. orders at the computer maker


( S ( NP-SBJ-1 ( NNP IBM ) ) ( VP ( VBZ plans ) ( S ( VP ( TO to ) ( VP ( VB unveil ) ( NP ( QP ( IN over ) ( CD 50 ) ) ( NN software ) ( NNS products ) ) ( PP-TMP ( IN on ) ( NP ( NNP Tuesday ) ) ) ( S-PRP ( VP ( TO to ) ( VP ( VB try ) ( S ( VP ( TO to ) ( VP ( VB end ) ( NP ( NP ( DT some ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( NNS problems ) ) ( PP ( IN in ) ( S-NOM ( VP ( VBG computerizing ) ( NP ( NN manufacturing ) ( NNS operations ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

IBM plans to unveil over 50 software products on Tuesday to try to end some of the problems in computerizing manufacturing operations


( S ( NP-SBJ-1 ( NP ( DT The ) ( NN TV ) ( NNS units ) ) ( PP ( IN of ) ( NP ( NNP Paramount ) ( CC and ) ( NNP MCA ) ) ) ) ( VP ( VBP are ) ( VP ( VBG exploring ) ( S ( VP ( VBG offering ) ( NP ( JJ prime-time ) ( NN programming ) ) ( PP-DTV ( TO to ) ( NP ( JJ independent ) ( NNS stations ) ) ) ( NP-TMP ( NP ( CD two ) ( NNS nights ) ) ( NP-ADV ( DT a ) ( NN week ) ) ) ) ) ) ) )

The TV units of Paramount and MCA are exploring offering prime-time programming to independent stations two nights a week


( S ( NP-SBJ ( NP ( NNP BankAmerica ) ( POS 's ) ) ( NN profit ) ) ( VP ( VBD jumped ) ( NP-EXT ( CD 34 ) ( NN % ) ) ( PP-TMP ( IN in ) ( NP ( DT the ) ( JJ third ) ( NN quarter ) ) ) ) )

BankAmerica 's profit jumped 34 % in the third quarter


( S ( NP-SBJ-2 ( DT The ) ( JJ rapid ) ( NN recovery ) ) ( VP ( VBD continued ) ( S ( VP ( TO to ) ( VP ( VB be ) ( VP ( VBN fueled ) ( PP ( IN by ) ( NP-LGS ( NP ( NP ( NN growth ) ) ( PP-LOC ( IN in ) ( NP ( NN consumer ) ( NNS loans ) ) ) ) ( NP ( JJR higher ) ( NN interest ) ( NNS margins ) ) ( CC and ) ( NP ( ADJP ( JJ only ) ( JJ minor ) ) ( NN loan ) ( NNS losses ) ) ) ) ) ) ) ) ) )

The rapid recovery continued to be fueled by growth in consumer loans higher interest margins and only minor loan losses


( S ( NP-SBJ ( NNP Big ) ( NNP Board ) ( JJ short ) ( NN interest ) ) ( VP ( VBD fell ) ( NP-EXT ( CD 4.2 ) ( NN % ) ) ( PP-TMP ( IN for ) ( NP ( NP ( DT the ) ( NN month ) ) ( VP ( VBD ended ) ( NP-TMP ( NNP Oct. ) ( CD 13 ) ) ) ) ) ( NP-ADV ( NP ( DT the ) ( JJ second ) ( NN decline ) ) ( PP ( IN in ) ( NP ( DT a ) ( NN row ) ) ) ) ) )

Big Board short interest fell 4.2 % for the month ended Oct. 13 the second decline in a row


( S ( NP-SBJ ( NP ( VBN Borrowed ) ( NNS shares ) ) ( PP-LOC ( IN on ) ( NP ( DT the ) ( NNP Amex ) ) ) ) ( VP ( VBD rose ) ( PP-DIR ( TO to ) ( NP ( DT another ) ( NN record ) ) ) ) )

Borrowed shares on the Amex rose to another record


( S ( NP-SBJ ( NNP Bell ) ( NNP Atlantic ) ) ( VP ( VBD posted ) ( NP ( NP ( DT a ) ( JJ strong ) ( NNS earnings ) ( NN gain ) ) ( PP ( IN for ) ( NP ( DT the ) ( JJ third ) ( NN quarter ) ) ) ) ( SBAR-ADV ( IN as ) ( SINV ( VBD did ) ( NP-SBJ ( NNP Southern ) ( NNP New ) ( NNP England ) ( NNP Telecommunications ) ) ) ) ) )

Bell Atlantic posted a strong earnings gain for the third quarter as did Southern New England Telecommunications


( S ( CC But ) ( NP-SBJ ( NP ( NNP Nynex ) ) ( NP ( NNP Pacific ) ( NNP Telesis ) ) ( CC and ) ( NP ( NNP U ) ( NNP S ) ( NNP West ) ) ) ( VP ( VBD had ) ( NP ( JJR lower ) ( NNS profits ) ) ) )

But Nynex Pacific Telesis and U S West had lower profits


( S ( NP-SBJ ( NNP B.A.T ) ( NNPS Industries ) ) ( VP ( VBD won ) ( NP ( NP ( NN shareholder ) ( NN approval ) ) ( PP ( IN for ) ( NP ( NP ( DT a ) ( JJ defensive ) ( NN restructuring ) ) ( SBAR ( S ( VP ( TO to ) ( VP ( VB fend ) ( PRT ( RP off ) ) ( NP ( NNP Sir ) ( NNP James ) ( NNP Goldsmith ) ) ) ) ) ) ) ) ) ) )

B.A.T Industries won shareholder approval for a defensive restructuring to fend off Sir James Goldsmith


( S ( NP-SBJ-2 ( NP ( NNP American ) ( NNP Express ) ( POS 's ) ) ( NN profit ) ) ( VP ( VBD climbed ) ( NP-EXT ( CD 21 ) ( NN % ) ) ( PP-TMP ( IN in ) ( NP ( DT the ) ( NN quarter ) ) ) ( UCP ( S-ADV ( VP ( VBN aided ) ( PP ( IN by ) ( NP-LGS ( NP ( DT a ) ( NN surge ) ) ( PP-LOC ( IN in ) ( NP ( PRP$ its ) ( NN travel ) ( NN business ) ) ) ) ) ) ) ( CC and ) ( PP ( IN despite ) ( NP ( NP ( DT a ) ( JJ big ) ( NN rise ) ) ( PP-LOC ( IN in ) ( NP ( NNP Third ) ( NNP World ) ( NN loan ) ( NNS reserves ) ) ) ) ) ) ) )

American Express 's profit climbed 21 % in the quarter aided by a surge in its travel business and despite a big rise in Third World loan reserves


Markets


( NP ( NP ( NNS Stocks ) ) ( NP ( NP ( NN Volume ) ) ( NP ( CD 198,120,000 ) ( NNS shares ) ) ) )

Stocks Volume 198,120,000 shares


( NP ( NP ( NP ( NNP Dow ) ( NNP Jones ) ( NNS industrials ) ) ( NP ( CD 2683.20 ) ) ( ADVP ( IN up ) ( NP ( CD 39.55 ) ) ) ) ( NP ( NP ( NN transportation ) ) ( NP ( CD 1263.51 ) ) ( ADVP ( IN up ) ( NP ( CD 15.64 ) ) ) ) ( NP ( NP ( NNS utilities ) ) ( NP ( CD 215.42 ) ) ( ADVP ( IN up ) ( NP ( CD 1.45 ) ) ) ) )

Dow Jones industrials 2683.20 up 39.55 transportation 1263.51 up 15.64 utilities 215.42 up 1.45


( NP ( NP ( NNS Bonds ) ) ( NP ( NP ( NNP Shearson ) ( NNP Lehman ) ( NNP Hutton ) ( NNP Treasury ) ( NN index ) ) ( NP ( CD 3398.65 ) ) ( ADVP ( IN up ) ) ) )

Bonds Shearson Lehman Hutton Treasury index 3398.65 up


( NP ( NP ( NNS Commodities ) ) ( NP ( NP ( NP ( NNP Dow ) ( NNP Jones ) ( NNS futures ) ( NN index ) ) ( NP ( CD 130.13 ) ) ( ADVP ( IN up ) ( NP ( CD 0.23 ) ) ) ) ( NP ( NP ( NN spot ) ( NN index ) ) ( NP ( CD 130.46 ) ) ( ADVP ( IN up ) ( NP ( CD 0.10 ) ) ) ) ) )

Commodities Dow Jones futures index 130.13 up 0.23 spot index 130.46 up 0.10


( NP ( NP ( NN Dollar ) ) ( NP ( NP ( NP ( CD 141.70 ) ( NN yen ) ) ( ADVP ( IN up ) ( NP ( CD 0.25 ) ) ) ) ( NP ( NP ( CD 1.8470 ) ( NNS marks ) ) ( ADVP ( IN off ) ( NP ( CD 0.0015 ) ) ) ) ) )

Dollar 141.70 yen up 0.25 1.8470 marks off 0.0015


( S ( NP-SBJ ( NNP Coastal ) ( NNP Corp. ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBD signed ) ( NP ( NP ( DT a ) ( JJ definitive ) ( NN agreement ) ) ( PP ( IN with ) ( NP ( NNP Aruba ) ) ) ( S-1 ( VP ( TO to ) ( VP ( VB restart ) ( NP ( DT a ) ( JJ 150,000-barrel-a-day ) ( NN oil ) ( NN refinery ) ) ) ) ) ) ) ) ) ) )

Coastal Corp. said it signed a definitive agreement with Aruba to restart a 150,000-barrel-a-day oil refinery


( S ( NP-SBJ ( NNP Coastal ) ) ( VP ( MD would ) ( RB n't ) ( VP ( VB disclose ) ( NP ( DT the ) ( NNS terms ) ) ) ) )

Coastal would n't disclose the terms


( S ( NP-SBJ ( NP ( NNP Coastal ) ) ( NP ( DT a ) ( NNP Houston ) ( NN oil ) ( CC and ) ( NN gas ) ( NN company ) ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ-1 ( PRP it ) ) ( VP ( VBZ expects ) ( S ( VP ( TO to ) ( VP ( VB begin ) ( NP ( NNS operations ) ) ( PP-TMP ( IN in ) ( NP ( NNP October ) ( CD 1990 ) ) ) ) ) ) ) ) ) ) )

Coastal a Houston oil and gas company said it expects to begin operations in October 1990


( S ( NP-SBJ ( DT The ) ( NN company ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ-1 ( PRP it ) ) ( VP ( MD may ) ( VP ( VB install ) ( NP ( JJ additional ) ( VBG processing ) ( NNS units ) ) ( PP-LOC ( IN at ) ( NP ( DT the ) ( NN refinery ) ) ) ( S-PRP ( VP ( TO to ) ( VP ( VB produce ) ( NP ( NP ( JJR higher ) ( NN octane ) ( NNS gasolines ) ) ( CC and ) ( NP ( JJ other ) ( NNS products ) ) ) ) ) ) ) ) ) ) ) )

The company said it may install additional processing units at the refinery to produce higher octane gasolines and other products


( S ( NP-SBJ ( DT The ) ( NN company ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBD was ) ( VP ( VBG leasing ) ( NP ( NP ( DT the ) ( NN site ) ) ( PP ( IN of ) ( NP ( DT the ) ( NN refinery ) ) ) ) ( PP-CLR ( IN from ) ( NP ( NNP Aruba ) ) ) ) ) ) ) ) )

The company said it was leasing the site of the refinery from Aruba


( S ( NP-SBJ ( NNP Exxon ) ( NNP Corp. ) ) ( VP ( VP ( VBD built ) ( NP ( DT the ) ( NN plant ) ) ) ( CC but ) ( VP ( VBD closed ) ( NP ( PRP it ) ) ( PP-TMP ( IN in ) ( NP ( CD 1985 ) ) ) ) ( CC and ) ( VP ( VBD sold ) ( PRT ( RP off ) ) ( NP ( NP ( RB much ) ) ( PP ( IN of ) ( NP ( DT the ) ( NN equipment ) ) ) ) ( PP-CLR ( TO to ) ( NP ( NP ( VBG dismantling ) ( NNS contractors ) ) ( SBAR ( WHPP-1 ( IN from ) ( WHNP ( WP whom ) ) ) ( S ( NP-SBJ ( NNP Coastal ) ) ( VP ( VBD bought ) ( ADVP ( RB back ) ) ( NP ( NP ( JJ much ) ) ( PP ( IN of ) ( NP ( DT the ) ( NN equipment ) ) ) ) ) ) ) ) ) ) ) )

Exxon Corp. built the plant but closed it in 1985 and sold off much of the equipment to dismantling contractors from whom Coastal bought back much of the equipment


( S ( NP-SBJ ( DT A ) ( NNP Coastal ) ( NN spokesman ) ) ( VP ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( DT the ) ( JJS biggest ) ( NN expense ) ) ( VP ( MD will ) ( VP ( VB be ) ( S-PRD ( VP ( TO to ) ( VP ( VB refurbish ) ( NP ( DT the ) ( NN refinery ) ) ) ) ) ) ) ) ) ) ( CC but ) ( VP ( MD would ) ( RB n't ) ( VP ( VB say ) ( SBAR-NOM ( WHNP-1 ( WRB how ) ( RB much ) ) ( S ( NP-SBJ ( IN that ) ) ( VP ( MD would ) ( VP ( VB be ) ) ) ) ) ) ) ) )

A Coastal spokesman said the biggest expense will be to refurbish the refinery but would n't say how much that would be


( S ( NP-SBJ ( NP ( DT The ) ( JJ prime ) ( NN minister ) ) ( PP ( IN of ) ( NP ( NNP Aruba ) ) ) ) ( VP ( VBZ has ) ( VP ( VBN said ) ( SBAR ( S ( NP-SBJ ( PRP it ) ) ( VP ( MD could ) ( VP ( VB cost ) ( NP ( QP ( IN around ) ( CD 100 ) ( CD million ) ) ) ) ) ) ) ) ) )

The prime minister of Aruba has said it could cost around 100 million


( S ( NP-SBJ ( NNP Coastal ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( NP ( DT the ) ( NN refinery ) ( POS 's ) ) ( VBN expected ) ( JJ daily ) ( NN production ) ) ( VP ( MD will ) ( VP ( VB include ) ( NP ( NP ( NP ( CD 34,000 ) ( NNS barrels ) ) ( PP ( IN of ) ( NP ( NN jet ) ( NN fuel ) ) ) ) ( NP ( NP ( CD 32,000 ) ( NNS barrels ) ) ( PP ( IN of ) ( NP ( JJ low-sulfur ) ( NN diesel ) ( NN fuel ) ) ) ) ( NP ( NP ( CD 30,000 ) ( NNS barrels ) ) ( PP ( IN of ) ( NP ( NN naphtha ) ) ) ) ( NP ( NP ( CD 17,000 ) ( NNS barrels ) ) ( PP ( IN of ) ( NP ( JJ residual ) ( NN fuel ) ( NN oil ) ) ) ) ( NP ( NP ( CD 8,000 ) ( NNS barrels ) ) ( PP ( IN of ) ( NP ( NN asphalt ) ) ) ) ( CC and ) ( NP ( NP ( CD 25,000 ) ( NNS barrels ) ) ( PP ( IN of ) ( NP ( JJ low-sulfur ) ( JJ catalytic ) ( NN cracker ) ( NN feedstock ) ) ) ) ) ) ) ) ) ) )

Coastal said the refinery 's expected daily production will include 34,000 barrels of jet fuel 32,000 barrels of low-sulfur diesel fuel 30,000 barrels of naphtha 17,000 barrels of residual fuel oil 8,000 barrels of asphalt and 25,000 barrels of low-sulfur catalytic cracker feedstock