( S ( NP-SBJ ( PRP They ) ) ( VP ( VBD worried ) ( PP-CLR ( IN about ) ( NP ( DT an ) ( NNP Interior ) ( NNP Department ) ( NN directive ) ( S ( VP ( TO to ) ( VP ( VB log ) ( NP ( NP ( DT all ) ( NNS communications ) ) ( PP ( IN with ) ( NP ( NP ( NNS Members ) ) ( CC or ) ( NP ( PRP$ their ) ( NNS staffs ) ) ) ) ) ) ) ) ) ) ) )

They worried about an Interior Department directive to log all communications with Members or their staffs


( S ( S ( NP-SBJ ( NNP Congress ) ) ( VP ( VBD inserted ) ( NP ( DT the ) ( NN following ) ) ( PP-LOC-CLR ( IN into ) ( NP ( DT the ) ( NNP Interior ) ( NN appropriation ) ) ) ) ) ( S ( NP-SBJ-1 ( NP ( NN None ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( NNS funds ) ) ( ADJP ( JJ available ) ( PP ( IN under ) ( NP ( DT this ) ( NN title ) ) ) ) ) ) ) ( VP ( MD may ) ( VP ( VB be ) ( VP ( VBN used ) ( S-CLR ( VP ( TO to ) ( VP ( VB prepare ) ( NP ( NP ( NNS reports ) ) ( PP ( IN on ) ( NP ( NP ( NNS contacts ) ) ( PP ( IN between ) ( NP ( NP ( NP ( NNS employees ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( NNP Dept. ) ) ( PP ( IN of ) ( NP ( DT the ) ( NNP Interior ) ) ) ) ) ) ( CC and ) ( NP ( NP ( NP ( NNS Members ) ( CC and ) ( NNS committees ) ) ( PP ( IN of ) ( NP ( NNP Congress ) ) ) ) ( CC and ) ( NP ( PRP$ their ) ( NN staff ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Congress inserted the following into the Interior appropriation None of the funds available under this title may be used to prepare reports on contacts between employees of the Dept. of the Interior and Members and committees of Congress and their staff


( S ( NP-SBJ ( DT The ) ( NNP White ) ( NNP House ) ) ( VP ( VBD warned ) ( SBAR ( IN that ) ( S ( NP-SBJ ( DT this ) ) ( VP ( MD would ) ( VP ( VB be ) ( NP-PRD ( NP ( DT an ) ( JJ unconstitutional ) ( NN usurpation ) ) ( PP ( IN of ) ( NP ( PRP$ its ) ( NN power ) ) ) ) ) ) ) ) ) )

The White House warned that this would be an unconstitutional usurpation of its power


( S ( SBAR-TMP ( WHADVP-1 ( WRB When ) ) ( S ( NP-SBJ-2 ( PRP it ) ) ( VP ( VBD threatened ) ( S ( VP ( TO to ) ( VP ( VB use ) ( NP ( DT this ) ( NN provision ) ) ( PP-CLR ( IN as ) ( NP ( NP ( DT the ) ( NN test ) ) ( PP ( IN for ) ( NP ( DT a ) ( JJ line-item ) ( NN veto ) ) ) ) ) ) ) ) ) ) ) ( NP-SBJ ( NNP Congress ) ) ( VP ( VBD caved ) ) )

When it threatened to use this provision as the test for a line-item veto Congress caved


( S ( NP-SBJ ( NP ( DT The ) ( NN fear ) ) ( SBAR ( S ( NP-SBJ ( NNP Congress ) ) ( VP ( VBZ has ) ) ) ) ( PP ( IN of ) ( NP ( DT any ) ( JJ line-item-veto ) ( NN test ) ) ) ) ( VP ( VBD led ) ( S ( NP-SBJ ( NNS Members ) ) ( VP ( TO to ) ( VP ( VB add ) ( NP ( NP ( NP ( DT the ) ( ADJP ( JJ single ) ( RBS most ) ( JJ contorted ) ( CC and ) ( JJ ridiculous ) ) ( NN provision ) ) ( NP-TMP ( DT this ) ( NN year ) ) ) ( S-NOM ( NP-SBJ ( DT This ) ( NN section ) ) ( VP ( MD shall ) ( VP ( VB be ) ( ADJP-PRD ( JJ effective ) ) ( PP-TMP ( RB only ) ( IN on ) ( NP ( NNP Oct. ) ( CD 1 ) ( CD 1989 ) ) ) ) ) ) ) ) ) ) ) )

The fear Congress has of any line-item-veto test led Members to add the single most contorted and ridiculous provision this year This section shall be effective only on Oct. 1 1989


( S ( NP-SBJ ( DT This ) ) ( VP ( VBZ means ) ( SBAR ( S ( NP-SBJ-1 ( JJ Interior ) ( NNS contacts ) ) ( VP ( MD can ) ( RB not ) ( VP ( VB be ) ( VP ( VBN logged ) ( PP-TMP ( RB only ) ( IN on ) ( NP ( NP ( CD one ) ( NN day ) ) ( NP ( NP ( DT a ) ( NNP Sunday ) ) ( SBAR ( WHNP-2 ( WDT that ) ) ( S ( VP ( VBD had ) ( ADVP ( RB already ) ) ( VP ( VBN passed ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

This means Interior contacts can not be logged only on one day a Sunday that had already passed


( S ( SBAR-ADV ( IN If ) ( S ( NP-SBJ ( DT the ) ( NNP White ) ( NNP House ) ) ( VP ( VBZ is ) ( VP ( VBG looking ) ( PP-CLR ( IN for ) ( NP ( DT another ) ( JJ unconstitutional ) ( NN bill ) ) ) ) ) ) ) ( NP-SBJ-1 ( NNP Rep. ) ( NNP John ) ( NNP Dingell ) ) ( VP ( VBZ is ) ( VP ( VBG trying ) ( ADVP ( RB again ) ) ( S ( VP ( TO to ) ( VP ( VB raise ) ( NP ( DT the ) ( NNP Fairness ) ( NNP Doctrine ) ) ( PP-CLR ( IN from ) ( NP ( DT the ) ( JJ dead ) ) ) ) ) ) ) ) )

If the White House is looking for another unconstitutional bill Rep. John Dingell is trying again to raise the Fairness Doctrine from the dead


( S ( NP-SBJ ( NNP President ) ( NNP Reagan ) ) ( VP ( VBD vetoed ) ( NP ( DT this ) ) ( PP-CLR ( IN as ) ( NP ( DT a ) ( NNP First ) ( NNP Amendment ) ( NN violation ) ) ) ) )

President Reagan vetoed this as a First Amendment violation


( S ( NP-SBJ ( NP ( DT The ) ( NNP Fairness ) ( NNP Doctrine ) ( POS 's ) ) ( NNS enthusiasts ) ) ( VP ( VBP are ) ( NP-PRD ( NP ( NNS incumbents ) ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( NNP House ) ) ) ( SBAR ( WHNP-1 ( WP who ) ) ( S ( VP ( VBP know ) ( SBAR ( S ( NP-SBJ ( DT the ) ( NNS rules ) ) ( VP ( VBP squelch ) ( NP ( NP ( JJ lively ) ( NNS discussions ) ) ( PP ( IN on ) ( NP ( NNS broadcasts ) ) ) ) ( S-ADV ( VP ( VBG deterring ) ( NP ( JJ feisty ) ( NNS challengers ) ) ) ) ) ) ) ) ) ) ) ) )

The Fairness Doctrine 's enthusiasts are incumbents in the House who know the rules squelch lively discussions on broadcasts deterring feisty challengers


( S ( NP-SBJ ( EX There ) ) ( VP ( VBP are ) ( ADVP ( RB also ) ) ( NP-PRD ( NP ( NP ( JJ other ) ( NNS provisions ) ) ( VP ( VBG requiring ) ( S ( NP-SBJ ( NNS Congressmen ) ) ( VP ( TO to ) ( VP ( VB join ) ( NP ( JJ treaty-negotiating ) ( NNS teams ) ) ) ) ) ) ) ( CC and ) ( NP ( NP ( JJ new ) ( NNS restrictions ) ) ( PP ( IN on ) ( NP ( NNP OMB ) ) ) ) ) ) )

There are also other provisions requiring Congressmen to join treaty-negotiating teams and new restrictions on OMB


( S ( S ( NP-SBJ ( JJ Unconstitutional ) ( NNS bills ) ) ( VP ( VBP make ) ( NP ( JJ good ) ( JJ legal ) ( NNS targets ) ) ) ) ( CC but ) ( S ( NP-SBJ-1 ( DT the ) ( JJ line-item ) ( NN veto ) ) ( VP ( VBZ is ) ( VP ( ADVP ( ADVP ( RB better ) ) ) ( VBN understood ) ( PP-CLR ( IN as ) ( NP ( DT a ) ( JJ political ) ( NN opportunity ) ) ) ( PP-2 ( IN than ) ( PP ( IN as ) ( NP ( NP ( JJ mere ) ( NN fodder ) ) ( PP ( IN for ) ( NP ( NNS lawyers ) ) ) ) ) ) ) ) ) )

Unconstitutional bills make good legal targets but the line-item veto is better understood as a political opportunity than as mere fodder for lawyers


( S ( S-ADV ( VP ( VBG Commenting ) ( PP-CLR ( IN on ) ( NP ( DT the ) ( NN budget ) ( NN mess ) ) ) ( NP-TMP ( DT this ) ( NN week ) ) ) ) ( NP-SBJ-1 ( NNP President ) ( NNP Bush ) ) ( VP ( VBD said ) ( S ( NP-SBJ ( NP ( DT The ) ( NN perception ) ) ( PP-LOC ( IN out ) ( NP ( RB there ) ) ) ) ( VP ( VBZ is ) ( SBAR-PRD ( IN that ) ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBZ 's ) ( NP-PRD ( NP ( DT the ) ( NN fault ) ) ( PP ( IN of ) ( NP ( NNP Congress ) ) ) ) ) ) ) ) ) ) )

Commenting on the budget mess this week President Bush said The perception out there is that it 's the fault of Congress


( S ( CC And ) ( NP-SBJ ( PRP you ) ) ( VP ( MD can ) ( VP ( VP ( VB look ) ( PP-CLR ( TO to ) ( NP ( DT the ) ( NN leadership ) ) ) ) ( CC and ) ( VP ( VB ask ) ( NP ( PRP them ) ) ( SBAR ( WHADVP-1 ( WRB why ) ) ( S ( NP-SBJ ( DT that ) ) ( VP ( VBZ is ) ( NP-PRD ( NP ( DT the ) ( NN perception ) ) ( PP ( IN of ) ( NP ( DT the ) ( JJ American ) ( NNS people ) ) ) ) ) ) ) ) ) ) )

And you can look to the leadership and ask them why that is the perception of the American people


Exactly right


( S ( NP-SBJ ( RB Now ) ) ( VP ( VBZ 's ) ( NP-PRD ( NP ( DT the ) ( NN time ) ) ( SBAR ( S ( VP ( TO to ) ( VP ( VB make ) ( NP ( NP ( DT the ) ( JJ political ) ( NN case ) ) ( SBAR ( IN that ) ( S ( NP-SBJ-2 ( NNS Presidents ) ) ( VP ( VBP need ) ( NP ( DT the ) ( JJ line-item ) ( NN weapon ) ) ( S-PRP-CLR ( VP ( TO to ) ( VP ( VB restore ) ( NP ( NN discipline ) ) ( PP-CLR ( TO to ) ( NP ( DT the ) ( NN budget ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Now 's the time to make the political case that Presidents need the line-item weapon to restore discipline to the budget


( S ( NP-SBJ ( NNP Congress ) ) ( VP ( VBZ is ) ( PP-LOC-PRD ( IN in ) ( NP ( NP ( DT no ) ( NN position ) ) ( SBAR ( S ( VP ( TO to ) ( VP ( VB naysay ) ( NP ( NNP Mr. ) ( NNP Bush ) ) ) ) ) ) ) ) ( ADVP-TMP ( RB now ) ( SBAR ( IN that ) ( S ( NP-SBJ ( PRP we ) ) ( VP ( VBP 're ) ( PP-PRD ( IN into ) ( NP ( NP ( NNP Gramm-Rudman ) ( POS 's ) ) ( NN sequestration ) ) ) ) ) ) ) ) )

Congress is in no position to naysay Mr. Bush now that we 're into Gramm-Rudman 's sequestration


( S ( NP-TMP ( RB Just ) ( DT this ) ( NN week ) ) ( NP-SBJ ( NP ( DT the ) ( NNP House-Senate ) ( NN conference ) ) ) ( VP ( VBD met ) ( NP-4 ( NP ( CD 231 ) ( NNS conferees ) ) ( VP ( VBN divided ) ( PP-CLR ( IN into ) ( NP ( CD 26 ) ( JJ different ) ( NNS subconferences ) ) ) ) ) ) )

Just this week the House-Senate conference met 231 conferees divided into 26 different subconferences


( S ( NP-SBJ-1 ( NNP Senator ) ( NNP Daniel ) ( NNP Inouye ) ) ( VP ( VBD agreed ) ( S ( VP ( TO to ) ( VP ( VB close ) ( NP ( NP ( DT some ) ( NNS bases ) ) ( PP-LOC ( IN in ) ( NP ( NNP Hawaii ) ) ) ) ( PP ( IN in ) ( NP ( NP ( NN exchange ) ) ( PP ( IN for ) ( NP ( NP ( JJ such ) ( NNS goodies ) ) ( PP ( IN as ) ( NP ( NP ( QP ( CD 11 ) ( CD million ) ) ) ( PP ( IN for ) ( NP ( NP ( DT a ) ( NN parking ) ( NN lot ) ) ( PP-LOC ( IN at ) ( NP ( NNP Walter ) ( NNP Reed ) ( NNP Hospital ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Senator Daniel Inouye agreed to close some bases in Hawaii in exchange for such goodies as 11 million for a parking lot at Walter Reed Hospital


( S ( NP-SBJ ( NN Conference ) ( NN negotiator ) ( NNP Rep. ) ( NNP Bill ) ( NNP Hefner ) ) ( VP ( VP ( VBD pulled ) ( PRT ( RP down ) ) ( NP ( NP ( QP ( CD 40 ) ( CD million ) ) ) ( PP ( IN in ) ( NP ( NP ( JJ military ) ( NNS bases ) ) ( PP ( IN for ) ( NP ( NNP North ) ( NNP Carolina ) ) ) ) ) ) ) ( CC and ) ( VP ( ADVP-MNR ( RB graciously ) ) ( VBN allowed ) ( NP ( NNP Senator ) ( NNP James ) ( NNP Sasser ) ) ( NP ( NP ( QP ( CD 70 ) ( CD million ) ) ) ( PP ( IN for ) ( NP ( NP ( NNS bases ) ) ( PP-LOC ( IN in ) ( NP ( NNP Tennessee ) ) ) ) ) ) ) ) )

Conference negotiator Rep. Bill Hefner pulled down 40 million in military bases for North Carolina and graciously allowed Senator James Sasser 70 million for bases in Tennessee


( S ( NP-SBJ-1 ( NNP President ) ( NNP Bush ) ) ( VP ( MD should ) ( VP ( VP ( VP ( VB take ) ( NP-2 ( DT the ) ( NNP Constitution ) ) ( PP-CLR-3 ( IN in ) ( NP ( CD one ) ( NN hand ) ) ) ) ( CC and ) ( VP ( NP=2 ( DT a ) ( NN budget ) ( NN ax ) ) ( PP-CLR=3 ( IN in ) ( NP ( DT the ) ( JJ other ) ) ) ) ) ( CC and ) ( VP ( VB get ) ( S ( VP ( TO to ) ( VP ( VB work ) ) ) ) ) ) ) )

President Bush should take the Constitution in one hand and a budget ax in the other and get to work


( S ( NP-SBJ ( PRP He ) ) ( VP ( MD should ) ( VP ( VB chop ) ( PRT ( RP out ) ) ( NP ( DT both ) ( NP ( JJ unconstitutional ) ( NNS provisions ) ) ( CC and ) ( NP ( NN budget ) ( NN pork ) ) ) ) ) )

He should chop out both unconstitutional provisions and budget pork


( S ( S ( NP-SBJ ( NNP Congress ) ) ( VP ( MD may ) ( VP ( VB have ) ( VP ( VBN lost ) ( NP ( NP ( DT any ) ( NN sense ) ) ( PP ( IN of ) ( NP ( NN discipline ) ) ) ) ) ) ) ) ( CC but ) ( S ( NP-SBJ ( IN that ) ) ( VP ( VBZ does ) ( RB n't ) ( VP ( VB mean ) ( SBAR ( S ( NP-SBJ-1 ( DT the ) ( NN country ) ) ( VP ( MD must ) ( VP ( VB learn ) ( S ( VP ( TO to ) ( VP ( VB live ) ( ADVP-TMP ( RB forever ) ) ( PP-MNR ( IN with ) ( NP ( DT this ) ( NN mess ) ) ) ) ) ) ) ) ) ) ) ) ) )

Congress may have lost any sense of discipline but that does n't mean the country must learn to live forever with this mess


( S ( NP-SBJ-1 ( NNP President ) ( NNP Bush ) ) ( VP ( VBZ has ) ( NP ( DT the ) ( NN power ) ( S ( VP ( TO to ) ( VP ( VB change ) ( SBAR-NOM ( WHADVP-2 ( WRB how ) ) ( S ( NP-SBJ ( NNP Washington ) ) ( VP ( VBZ works ) ) ) ) ) ) ) ) ( SBAR-ADV ( IN if ) ( RB only ) ( S ( NP-SBJ ( PRP he ) ) ( VP ( MD will ) ( VP ( VB use ) ( NP ( PRP it ) ) ) ) ) ) ) )

President Bush has the power to change how Washington works if only he will use it


( S ( NP-SBJ-1 ( NNP American ) ( NNP Medical ) ( NNP International ) ( NNP Inc. ) ) ( VP ( VBD was ) ( VP ( VBN dropped ) ( PP-CLR ( IN from ) ( NP ( NP ( DT the ) ( NN health ) ( NN care ) ( NNS providers ) ( NN industry ) ( NN group ) ) ( PP ( IN of ) ( NP ( DT the ) ( NNP Dow ) ( NNP Jones ) ( NNP Equity ) ( NNP Market ) ( NNP Index ) ) ) ) ) ) ) )

American Medical International Inc. was dropped from the health care providers industry group of the Dow Jones Equity Market Index


( S ( NP-SBJ-1 ( DT The ) ( NN company ) ) ( VP ( VBZ is ) ( VP ( VBG being ) ( VP ( VBN acquired ) ) ) ) )

The company is being acquired


( S ( NP-SBJ-1 ( NNP U.S. ) ( NNP Healthcare ) ( NNP Inc. ) ) ( VP ( VBD was ) ( VP ( VBN added ) ( PP-CLR ( TO to ) ( NP ( DT the ) ( NN health ) ( NN care ) ( NNS providers ) ( NN group ) ) ) ) ) )

U.S. Healthcare Inc. was added to the health care providers group


( S ( NP-SBJ ( DT Both ) ( NNS moves ) ) ( VP ( VBP are ) ( ADJP-PRD ( JJ effective ) ) ( NP-TMP ( NN today ) ) ) )

Both moves are effective today


( S-HLN ( NP-SBJ ( NN HEALTH ) ( NNS CLUBS ) ) ( VP ( VBP gear ) ( PRT ( RP up ) ) ( PP-CLR ( IN for ) ( NP ( DT a ) ( VBG graying ) ( NN clientele ) ) ) ) )

HEALTH CLUBS gear up for a graying clientele


( S ( SBAR-ADV ( IN Although ) ( S ( NP-SBJ ( PRP$ their ) ( NNS ads ) ) ( VP ( VBP picture ) ( NP ( NP ( JJ curvy ) ( JJ young ) ( NNS people ) ) ( PP-LOC ( IN in ) ( NP ( JJ skimpy ) ( NN outfits ) ) ) ) ) ) ) ( NP-SBJ ( NN club ) ( NNS owners ) ) ( VP ( VBP know ) ( SBAR ( S ( NP-SBJ ( DT the ) ( NN future ) ) ( VP ( VBZ lies ) ( PP ( IN with ) ( NP ( DT the ) ( JJR lumpier ) ( JJ over-40 ) ( NN set ) ) ) ) ) ) ) )

Although their ads picture curvy young people in skimpy outfits club owners know the future lies with the lumpier over-40 set


( SINV ( S-TPC-2 ( NP-SBJ ( NP ( PRP It ) ) ) ( VP ( VBZ 's ) ( NP-PRD ( DT a ) ( NN misconception ) ) ( SBAR-1 ( DT that ) ( S ( NP-SBJ ( JJ physical ) ( NN fitness ) ) ( VP ( VBZ is ) ( NP-PRD ( NP ( NN something ) ) ( PP ( IN for ) ( NP ( DT the ) ( JJ young ) ( CC and ) ( JJ middle-aged ) ) ) ) ) ) ) ) ) ( VP ( VBZ says ) ) ( NP-SBJ ( NP ( NNP Michael ) ( NNP Pacholik ) ) ( NP ( NP ( JJ sales ) ( NN manager ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( NNP LA ) ( NNP Fitness ) ( NN club ) ) ( NP-LOC ( NP ( NNP Diamond ) ( NNP Bar ) ) ( NP ( NNP Calif ) ) ) ) ) ) ) )

It 's a misconception that physical fitness is something for the young and middle-aged says Michael Pacholik sales manager of the LA Fitness club Diamond Bar Calif


( SINV ( S-TPC-1 ( NP-SBJ ( NP ( QP ( IN About ) ( CD 10 ) ( NN % ) ( TO to ) ( CD 15 ) ( NN % ) ) ) ( PP ( IN of ) ( NP ( NP ( NNS members ) ) ( PP-LOC ( IN at ) ( NP ( NP ( NNP Atlanta ) ( POS 's ) ) ( NNP Holiday ) ( NNP Espre ) ( NNP Center ) ) ) ) ) ) ( VP ( VBP are ) ( ADJP-PRD ( JJ elderly ) ) ) ) ( VP ( VBZ says ) ) ( NP-SBJ ( NP ( NNP Gerald ) ( NNP Williams ) ) ( NP ( NN fitness ) ( NN consultant ) ) ) )

About 10 % to 15 % of members at Atlanta 's Holiday Espre Center are elderly says Gerald Williams fitness consultant


( S ( NP-SBJ ( JJS Most ) ) ( VP ( VBP want ) ( NP ( NP ( JJ cardiovascular ) ( NN conditioning ) ) ( NP ( NP ( DT the ) ( NN No. ) ( CD 1 ) ( NN way ) ) ( PP ( IN of ) ( S-NOM ( VP ( VBG reducing ) ( NP ( NP ( NN risk ) ) ( PP ( IN of ) ( NP ( NN heart ) ( NN disease ) ) ) ) ) ) ) ) ) ) )

Most want cardiovascular conditioning the No. 1 way of reducing risk of heart disease


( S ( NP-SBJ ( NP ( DT The ) ( NNP Association ) ) ( PP ( IN of ) ( NP ( NNP Quality ) ( NNPS Clubs ) ) ) ( SBAR ( WHNP-41 ( WDT which ) ) ( S ( VP ( VBZ puts ) ( NP ( CD 1988 ) ( NN industry ) ( NN revenue ) ) ( PP-PUT ( IN at ) ( NP ( QP ( CD 5 ) ( CD billion ) ) ) ) ) ) ) ) ( VP ( VP ( VBD surveyed ) ( NP ( DT the ) ( JJ health-conscious ) ( JJ over-40 ) ( NN market ) ) ) ( CC and ) ( VP ( VBD found ) ( SBAR ( IN that ) ( S ( NP-SBJ ( CD 43 ) ( NN % ) ) ( VP ( NN exercise ) ( ADVP-TMP ( RB regularly ) ) ) ) ) ) ) )

The Association of Quality Clubs which puts 1988 industry revenue at 5 billion surveyed the health-conscious over-40 market and found that 43 % exercise regularly


( S ( NP-SBJ ( NP ( NNP Michael ) ( NNP Hays ) ) ( NP ( NP ( NN head ) ) ( PP ( IN of ) ( NP ( NNP ProBody ) ( NNP Fitness ) ) ) ) ) ( VP ( VBZ notes ) ( SBAR ( S ( NP-SBJ ( DT an ) ( NN industry ) ( NN wash ) ) ( VP ( VBZ is ) ( PP-PRD ( IN in ) ( NP ( NN progress ) ) ) ) ) ) ) )

Michael Hays head of ProBody Fitness notes an industry wash is in progress


( S ( S-TPC-3 ( NP-SBJ-1 ( NNS Clubs ) ) ( VP ( VBP need ) ( S ( VP ( TO to ) ( VP ( VB be ) ( VP ( VBN run ) ( PP-MNR ( IN like ) ( NP ( NP ( NNS restaurants ) ) ( SBAR ( WHADVP-2 ( WRB where ) ) ( S ( NP-SBJ ( DT every ) ( JJ square ) ( NN foot ) ) ( VP ( VBZ makes ) ( NP ( DT a ) ( NN dollar ) ) ) ) ) ) ) ) ) ) ) ) ) ( NP-SBJ ( PRP he ) ) ( VP ( VBZ says ) ) )

Clubs need to be run like restaurants where every square foot makes a dollar he says


( S ( NP-SBJ-1 ( JJR Older ) ( NNS people ) ) ( VP ( VBP help ) ( NP ( NNS profits ) ) ( PP-MNR ( IN by ) ( S-NOM ( VP ( VBG filling ) ( PRT ( RP in ) ) ( NP ( NN downtime ) ) ) ) ) ) )

Older people help profits by filling in downtime


( S ( NP-SBJ ( PRP He ) ) ( VP ( VBZ adds ) ( S ( NP-SBJ-1 ( NP ( DT The ) ( JJ medical ) ( NN market ) ) ( CC and ) ( NP ( DT the ) ( NN fitness ) ( NN market ) ) ) ( VP ( VP ( RB parallel ) ( NP ( DT each ) ( JJ other ) ) ) ( CC and ) ( VP ( VBP are ) ( VP ( VBG going ) ( S ( VP ( TO to ) ( VP ( VB cross ) ( ADVP-TMP ( JJ real ) ( RB soon ) ) ) ) ) ) ) ) ) ) )

He adds The medical market and the fitness market parallel each other and are going to cross real soon


( S ( S ( NP-SBJ ( NP ( NNS People ) ) ( PP ( IN on ) ( NP ( VBN fixed ) ( NNS incomes ) ) ) ) ( VP ( VBP get ) ( NP ( NP ( DT a ) ( NN break ) ) ( PP-LOC ( IN at ) ( NP ( NNP Espre ) ) ) ) ) ) ( S ( NP-SBJ ( IN over ) ( CD 55 ) ) ( VP ( NNS wins ) ( NP ( NP ( DT a ) ( ADJP ( CD 45 ) ( NN % ) ) ( NN discount ) ) ( PP-LOC ( IN at ) ( NP ( NNP Anaheim ) ( NNP Imperial ) ( NNP Health ) ( NNP Spa ) ) ) ) ) ) )

People on fixed incomes get a break at Espre over 55 wins a 45 % discount at Anaheim Imperial Health Spa


( S-HLN ( NP-SBJ ( NNP HOT ) ( NNP TOPAZ ) ) ( VP ( VBZ sparks ) ( NP ( NN regulator ) ( NN jeweler ) ( NN concern ) ) ( PP ( IN over ) ( NP ( NP ( NN import ) ) ( PP ( IN of ) ( NP ( JJ irradiated ) ( NNS stones ) ) ) ) ) ) )

HOT TOPAZ sparks regulator jeweler concern over import of irradiated stones


( S ( NP-SBJ ( NP ( DT A ) ( NN committee ) ) ( PP ( IN of ) ( NP ( NN gem ) ( NNS dealers ) ) ) ) ( VP ( VBZ investigates ) ( NP ( NP ( DT the ) ( NN source ) ) ( PP ( IN of ) ( NP ( NP ( DT some ) ( JJ hot ) ( JJ blue ) ( NN topaz ) ( NNS stones ) ) ( VP ( ADVP-TMP ( RB recently ) ) ( VBN reported ) ( PP ( IN by ) ( NP-LGS ( DT a ) ( NNP Hong ) ( NNP Kong ) ( NN jewelry ) ( NN manufacturer ) ) ) ) ) ) ) ) )

A committee of gem dealers investigates the source of some hot blue topaz stones recently reported by a Hong Kong jewelry manufacturer


( S ( PP-LOC ( IN In ) ( NP ( DT the ) ( NNP U.S. ) ) ) ( NP-SBJ-41 ( NN radiation ) ( NNS limits ) ) ( VP ( VBP are ) ( VP ( VBN set ) ( CC and ) ( VBN monitored ) ( PP ( IN by ) ( NP-LGS ( NP ( DT the ) ( NNP Nuclear ) ( NNP Regulatory ) ( NNP Commission ) ) ( SBAR ( WHNP-42 ( WDT which ) ) ( S ( VP ( VBZ licenses ) ( NP ( NP ( NNS reactors ) ) ( SBAR ( WHNP-43 ( WDT that ) ) ( S ( VP ( VBP process ) ( NP ( DT the ) ( NN topaz ) ) ) ) ) ) ) ) ) ) ) ) ) )

In the U.S. radiation limits are set and monitored by the Nuclear Regulatory Commission which licenses reactors that process the topaz


( S ( NP-SBJ-1 ( DT The ) ( NN agency ) ) ( VP ( VP ( VBZ is ) ( VP ( VBG working ) ( PP-CLR ( IN on ) ( S-NOM ( VP ( VBG licensing ) ( NP ( NNS importers ) ) ) ) ) ) ) ( CC but ) ( VP ( VBZ does ) ( RB n't ) ( ADVP-TMP ( RB currently ) ) ( VP ( VB monitor ) ( NP ( NNS imports ) ) ) ) ) )

The agency is working on licensing importers but does n't currently monitor imports


( S ( NP-SBJ-1 ( NP ( NNP Topaz ) ) ( NP ( NP ( DT a ) ( JJ translucent ) ( NN mineral ) ) ( SBAR ( WHNP-2 ( WDT that ) ) ( S ( VP ( VBZ is ) ( ADVP-TMP ( RB often ) ) ( ADJP-PRD ( JJ whitish ) ) ( SBAR-TMP ( WHADVP-5 ( WRB when ) ) ( S ( VP ( VBN taken ) ( PP-DIR ( IN from ) ( NP ( DT the ) ( NN ground ) ) ) ) ) ) ) ) ) ) ) ( VP ( MD can ) ( VP ( VB be ) ( VP ( VBN turned ) ( S ( ADJP-PRD ( JJ blue ) ) ) ( PP ( IN by ) ( NP-LGS ( NP ( NN irradiation ) ) ( SBAR ( WHNP-3 ( WDT which ) ) ( S ( VP ( VBZ transforms ) ( NP ( PRP it ) ) ( PP-CLR ( IN into ) ( NP ( NP ( DT a ) ( NN gemstone ) ) ( SBAR ( WHNP-4 ( WDT that ) ) ( S ( VP ( VBZ looks ) ( PP-CLR ( IN like ) ( NP ( DT an ) ( NN aquamarine ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Topaz a translucent mineral that is often whitish when taken from the ground can be turned blue by irradiation which transforms it into a gemstone that looks like an aquamarine


( SINV ( S-TPC-3 ( NP-SBJ ( NP ( DT The ) ( NNS stones ) ) ( SBAR ( WHNP-2 ( WDT that ) ) ( S ( VP ( VBD were ) ( VP ( VBN irradiated ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( NNP U.S. ) ) ) ) ) ) ) ) ( VP ( VBP are ) ( ADJP-PRD ( JJ safe ) ) ) ) ( VP ( VBZ says ) ) ( NP-SBJ ( NP ( NNP John ) ( NNP Hickey ) ) ( NP ( NP ( NN chief ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( NNP NRC ) ( NNS operations ) ( NN branch ) ) ( NP-LOC ( NNP Washington ) ) ) ) ) ) )

The stones that were irradiated in the U.S. are safe says John Hickey chief of the NRC operations branch Washington


( S ( NP-SBJ ( PRP We ) ) ( VP ( VBP believe ) ( SBAR ( IN that ) ( S ( NP-SBJ ( NP ( DT the ) ( JJ vast ) ( NN majority ) ) ( PP ( IN of ) ( NP ( VBN imported ) ( NN material ) ) ) ) ( VP ( VBZ is ) ( ADJP-PRD ( JJ safe ) ) ) ) ) ) )

We believe that the vast majority of imported material is safe


( S ( CC But ) ( NP-SBJ ( EX there ) ) ( VP ( VBZ is ) ( NP-PRD ( DT a ) ( JJ small ) ( NN risk ) ( SBAR ( IN that ) ( S ( NP-SBJ-1 ( NP ( DT some ) ) ) ( VP ( VBD were ) ( VP ( VBN imported ) ( PP-2 ( IN with ) ( NP ( JJ high ) ( NN radiation ) ( NNS levels ) ) ) ) ) ) ) ) ) )

But there is a small risk that some were imported with high radiation levels


( S ( NP-SBJ ( NNP Mr. ) ( NNP Hickey ) ) ( VP ( VBD added ) ( SBAR ( IN that ) ( S ( NP-SBJ-1 ( NP ( DT the ) ( NNS stones ) ) ( VP ( VBN found ) ( PP-LOC ( IN in ) ( NP ( NNP Hong ) ( NNP Kong ) ) ) ) ) ( VP ( VBP are ) ( VP ( VBN thought ) ( S ( VP ( TO to ) ( VP ( VB carry ) ( NP ( VB double ) ( DT the ) ( NNP U.S. ) ( NN radiation ) ( NN limit ) ) ) ) ) ) ) ) ) ( SBAR-ADV ( IN although ) ( S ( NP-SBJ ( PRP he ) ) ( VP ( VBD noted ) ( SBAR ( IN that ) ( S ( NP-SBJ ( QP ( JJ double ) ( CC or ) ( RB even ) ( JJ triple ) ) ( DT the ) ( NNP U.S. ) ( NN limit ) ) ( VP ( VBZ is ) ( ADVP ( RB still ) ) ( PP-LOC-PRD ( IN in ) ( NP ( NP ( DT the ) ( NN range ) ) ( PP ( IN of ) ( NP ( JJ safe ) ( NNS levels ) ) ) ) ) ) ) ) ) ) ) ) )

Mr. Hickey added that the stones found in Hong Kong are thought to carry double the U.S. radiation limit although he noted that double or even triple the U.S. limit is still in the range of safe levels


( S ( NP-SBJ ( DT Some ) ( NNS jewelers ) ) ( VP ( VBP have ) ( NP ( NP ( NNP Geiger ) ( NNS counters ) ) ( SBAR ( S ( VP ( TO to ) ( VP ( VB measure ) ( NP ( NN topaz ) ( NN radiation ) ) ) ) ) ) ) ) )

Some jewelers have Geiger counters to measure topaz radiation


( S-HLN ( NP-SBJ ( NN CAPITAL ) ) ( VP ( VBZ TRAVELS ) ( PP-DIR ( TO to ) ( NP ( NNP Europe ) ) ) ( SBAR-TMP ( IN as ) ( S ( NP-SBJ ( CD 1992 ) ( NN unification ) ) ( VP ( VBZ nears ) ) ) ) ) )

CAPITAL TRAVELS to Europe as 1992 unification nears


( S ( NP-SBJ ( NP ( NNP Boston ) ( POS 's ) ) ( NNP Advent ) ( NNP International ) ) ( VP ( VBZ raises ) ( NP ( NP ( QP ( CD 230 ) ( CD million ) ) ) ) ( PP-CLR ( IN from ) ( NP ( NP ( NNP U.S. ) ( NN pension ) ( NNS funds ) ) ( CC and ) ( NP ( JJ other ) ( NNS institutions ) ) ) ) ( SBAR-2 ( S ( VP ( TO to ) ( VP ( VB invest ) ( PP-LOC-CLR ( IN in ) ( NP ( NNP Europe ) ) ) ) ) ) ) ) )

Boston 's Advent International raises 230 million from U.S. pension funds and other institutions to invest in Europe


( S ( S ( NP-SBJ ( JJ Other ) ( NN venture ) ( NNS capitalists ) ) ( VP ( VBP are ) ( ADVP ( RB already ) ) ( ADVP-LOC-PRD ( RB there ) ) ) ) ( S ( NP-SBJ ( NP ( NP ( NP ( NNP MMG ) ( NNP Patricof ) ( NNP Group ) ) ( CC and ) ( NP ( PRP$ its ) ( NNP Alan ) ( NNP Patricof ) ( NNPS Associates ) ) ) ( NP-LOC ( NNP New ) ( NNP York ) ) ) ( NP ( NP ( NNP Burr ) ( NNP Egan ) ( NNP Deleage ) ( CC & ) ( NNP Co. ) ) ( NP-LOC ( NNP Boston ) ) ) ( CC and ) ( NP ( NP ( NNP San ) ( NNP Francisco ) ( POS 's ) ) ( NNP Hambrecht ) ( CC & ) ( NNP Quist ) ) ) ( VP ( VBP have ) ( NP ( NP ( QP ( IN about ) ( CD 800 ) ( CD million ) ) ) ( SBAR ( S ( VP ( TO to ) ( VP ( VB invest ) ( PP-LOC-CLR ( IN in ) ( NP ( JJ European ) ( NNS companies ) ) ) ) ) ) ) ) ) ) )

Other venture capitalists are already there MMG Patricof Group and its Alan Patricof Associates New York Burr Egan Deleage & Co. Boston and San Francisco 's Hambrecht & Quist have about 800 million to invest in European companies


( S ( NP-SBJ-1 ( JJ European ) ( NN venture ) ( NN capital ) ( NNS funds ) ) ( VP ( VP ( JJ total ) ( NP ( QP ( IN about ) ( CD 14 ) ( CD billion ) ) ) ) ( CC and ) ( VP ( VBP are ) ( VP ( VBN expected ) ( S ( VP ( TO to ) ( VP ( VB continue ) ( S ( VP ( VBG growing ) ( NP-EXT ( CD 35 ) ( NN % ) ) ( ADVP-TMP ( RB annually ) ) ) ) ) ) ) ) ) ) )

European venture capital funds total about 14 billion and are expected to continue growing 35 % annually


( S ( NP-SBJ ( NNS Continentals ) ) ( VP ( VBP believe ) ( SBAR ( IN that ) ( S ( NP-SBJ ( DT the ) ( JJS strongest ) ( NN growth ) ( NN area ) ) ( VP ( MD will ) ( VP ( VB be ) ( NP-LOC-PRD ( JJ southern ) ( NNP Europe ) ) ) ) ) ) ) )

Continentals believe that the strongest growth area will be southern Europe


( S ( NP-SBJ-1 ( NNP Spain ) ( CC and ) ( NNP Italy ) ) ( VP ( VBP are ) ( ADVP-TMP ( RBS most ) ( RB often ) ) ( VP ( VBN mentioned ) ( PP-CLR ( IN as ) ( NP ( DT the ) ( JJ future ) ( JJ economic ) ( JJ hot ) ( NNS spots ) ) ) ) ) )

Spain and Italy are most often mentioned as the future economic hot spots


( S ( NP-SBJ ( JJ Favored ) ( NNS ventures ) ) ( VP ( VBP include ) ( NP ( NNS media ) ( NNS telecommunications ) ( CC and ) ( NN retailing ) ) ) )

Favored ventures include media telecommunications and retailing


( NP ( NP ( ADJP ( RBS Most ) ( JJ popular ) ) ( NN acquisition ) ( NN method ) ) ( NP ( DT the ) ( JJ leveraged ) ( NN buy-out ) ) )

Most popular acquisition method the leveraged buy-out


( SINV ( S-TPC-2 ( NP-SBJ ( NP ( JJ Family-owned ) ( NNS firms ) ) ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( VP ( VBP need ) ( NP ( NN cash ) ) ( S-PRP ( VP ( TO to ) ( VP ( VB grow ) ) ) ) ) ) ) ) ( VP ( VBP are ) ( ADJP-PRD ( JJ attractive ) ) ) ) ( VP ( VBZ says ) ) ( NP-SBJ ( NP ( NNP John ) ( NNP Turner ) ) ( PP ( IN of ) ( NP ( NP ( NNP Matuschka ) ( NNP Gruppe ) ) ( NP-LOC ( NNP Munich ) ) ) ) ) )

Family-owned firms that need cash to grow are attractive says John Turner of Matuschka Gruppe Munich


( S-HLN ( NP-SBJ ( NP ( DT AN ) ( NNP AIDS ) ( NN DIRECTORY ) ) ( PP ( IN from ) ( NP ( NP ( DT the ) ( NNP American ) ( NNP Foundation ) ) ( PP ( IN for ) ( NP ( NNP AIDS ) ( NNP Research ) ) ) ) ) ) ( VP ( VBZ rates ) ( CC and ) ( VBZ reviews ) ( NP ( JJ educational ) ( NNS materials ) ) ) )

AN AIDS DIRECTORY from the American Foundation for AIDS Research rates and reviews educational materials


( S ( NP-SBJ ( NNP Learning ) ( NNP AIDS ) ) ( VP ( VBZ lists ) ( NP ( NP ( NNS films ) ) ( NP ( NNS pamphlets ) ) ( NP ( NNS brochures ) ) ( NP ( NNS videos ) ) ( CC and ) ( NP ( JJ other ) ( JJ educational ) ( NNS data ) ) ) ) )

Learning AIDS lists films pamphlets brochures videos and other educational data


( S ( NP-SBJ ( DT The ) ( NN distributor ) ) ( VP ( VBZ is ) ( NP-PRD ( NP ( NNP R.R. ) ( NNP Bowker ) ) ( NP-LOC ( NNP New ) ( NNP York ) ) ) ) )

The distributor is R.R. Bowker New York


( S-HLN ( NP-SBJ-1 ( JJ SUSPECT ) ( NNS SALES ) ( NNS ads ) ) ( VP ( VBP are ) ( VP ( VBN challenged ) ( PP ( IN by ) ( NP-LGS ( NP ( DT the ) ( NNP Better ) ( NNP Business ) ( NNP Bureau ) ) ( PP ( IN of ) ( NP ( NNP Metropolitan ) ( NNP New ) ( NNP York ) ) ) ) ) ) ) )

SUSPECT SALES ads are challenged by the Better Business Bureau of Metropolitan New York


( S ( NP-SBJ ( DT The ) ( NN bureau ) ) ( VP ( VBD found ) ( SBAR ( IN that ) ( S ( NP-SBJ ( QP ( RB only ) ( CD two ) ( IN of ) ( CD six ) ) ( NNP New ) ( NNP York ) ( NN furniture ) ( NNS stores ) ) ( VP ( MD could ) ( VP ( VB prove ) ( SBAR ( S ( NP-SBJ ( PRP$ their ) ( NN presale ) ( NNS prices ) ) ( VP ( VBD were ) ( ADJP-PRD ( JJR higher ) ) ) ) ) ) ) ) ) ) )

The bureau found that only two of six New York furniture stores could prove their presale prices were higher


( S ( S-HLN ( NP-SBJ ( NNP DRACULA ) ) ( VP ( VBZ 'S ) ( ADJP-PRD ( JJ BUSY ) ) ( NP-TMP ( NP ( DT this ) ( NN time ) ) ( PP ( IN of ) ( NP ( NN year ) ) ) ) ) ) ( CC but ) ( S ( NP-SBJ ( NP ( DT a ) ( NN visit ) ) ( PP ( TO to ) ( NP ( PRP$ his ) ( NNP Transylvania ) ( NN castle ) ) ) ) ( VP ( VBZ is ) ( NP-PRD ( NP ( NN part ) ) ( PP ( IN of ) ( NP ( NP ( DT a ) ( JJ Chicago-based ) ( NNPS Unitours ) ( NN trip ) ) ( PP-TMP ( IN in ) ( NP ( NP ( DT the ) ( NN spring ) ) ( PRN ( ADVP ( RB presumably ) ) ( NP ( NP ( DT the ) ( NN count ) ( POS 's ) ) ( NN off-season ) ) ) ) ) ) ) ) ) ) )

DRACULA 'S BUSY this time of year but a visit to his Transylvania castle is part of a Chicago-based Unitours trip in the spring presumably the count 's off-season


( S-HLN ( NP-SBJ ( NNP RADIO ) ( NNP MALAISE ) ) ( VP ( VBZ draws ) ( NP ( NP ( DT the ) ( NN ear ) ) ( PP ( IN of ) ( NP ( DT the ) ( NNP Federal ) ( NNPS Communications ) ( NNP Commission ) ) ) ) ) )

RADIO MALAISE draws the ear of the Federal Communications Commission


( S ( NP-SBJ ( NP ( NNP AM ) ( NN radio ) ) ( SBAR ( WHNP-1 ( WDT which ) ) ( S ( VP ( VBZ has ) ( VP ( VBN been ) ( VP ( VBG losing ) ( NP ( NNS listeners ) ) ( PP-CLR ( TO to ) ( NP ( NNP FM ) ( NNS channels ) ) ) ( PP-TMP ( IN since ) ( NP ( DT the ) ( CD 1970s ) ) ) ) ) ) ) ) ) ( VP ( VBZ approaches ) ( NP ( DT the ) ( CD 1990s ) ) ( PP-MNR ( IN with ) ( NP ( DT a ) ( JJ diminished ) ( NN voice ) ) ) ) )

AM radio which has been losing listeners to FM channels since the 1970s approaches the 1990s with a diminished voice


( S ( CC But ) ( NP-SBJ ( PRP it ) ) ( VP ( MD may ) ( VP ( VB have ) ( NP ( DT a ) ( JJ good ) ( NN listener ) ) ( PP-LOC ( IN in ) ( NP ( NNP Washington ) ) ) ) ) )

But it may have a good listener in Washington


( S ( NP-SBJ-2 ( DT The ) ( NNP FCC ) ) ( VP ( NNS plans ) ( S ( VP ( TO to ) ( VP ( VB hear ) ( NP ( NP ( DT a ) ( NN day ) ) ( PP ( IN of ) ( NP ( NP ( NN testimony ) ) ) ) ) ( NP-TMP ( NNP Nov. ) ( CD 16 ) ) ( PP-1 ( IN on ) ( NP ( NP ( DT the ) ( NN plight ) ) ( PP ( IN of ) ( NP ( NNP AM ) ( NN radio ) ) ) ) ) ) ) ) ) )

The FCC plans to hear a day of testimony Nov. 16 on the plight of AM radio


( S ( NP-SBJ ( DT The ) ( NN commission ) ) ( VP ( VBZ believes ) ( SBAR ( IN that ) ( S ( S-NOM-SBJ ( VP ( VBG improving ) ( NP ( NNP AM ) ( NN service ) ) ) ) ( VP ( MD would ) ( VP ( VP ( VB broaden ) ( NP ( NN listening ) ( NNS selections ) ) ) ( CC and ) ( VP ( VB increase ) ( NP ( NNS options ) ) ( PP ( IN for ) ( NP ( NNS advertisers ) ) ) ) ) ) ) ) ) )

The commission believes that improving AM service would broaden listening selections and increase options for advertisers


( S ( NP-SBJ-1 ( DT The ) ( NNS issues ) ) ( VP ( VBP are ) ( ADVP ( RB also ) ) ( VP ( VBN thought ) ( S ( VP ( TO to ) ( VP ( VB be ) ( ADJP-PRD ( JJ important ) ( PP ( TO to ) ( NP ( NP ( NP ( DT the ) ( NNP FCC ) ( POS 's ) ) ( JJ new ) ( NN chairman ) ) ( NP ( NNP Alfred ) ( NNP Sikes ) ) ( NP ( NP ( DT a ) ( JJ former ) ( NNP AM ) ( NN broadcaster ) ) ( PP-LOC ( IN in ) ( NP ( PRP$ his ) ( JJ native ) ( NNP Missouri ) ) ) ) ) ) ) ) ) ) ) ) )

The issues are also thought to be important to the FCC 's new chairman Alfred Sikes a former AM broadcaster in his native Missouri


( S ( NP-SBJ-1 ( DT The ) ( NNP FM ) ( NN radio ) ( NN band ) ) ( S-ADV ( VP ( VBN considered ) ( S ( ADJP-PRD ( RB technically ) ( JJ superior ) ) ( SBAR-PRP ( IN because ) ( S ( NP-SBJ ( PRP it ) ) ( VP ( MD can ) ( VP ( VB carry ) ( NP ( JJ stereo ) ( NNS broadcasts ) ) ) ) ) ) ) ) ) ( VP ( VBZ has ) ( VP ( VBN cornered ) ( NP ( DT the ) ( NNS airwaves ) ) ( PP-PRP ( IN for ) ( S-NOM ( VP ( VBG delivering ) ( NP ( NN music ) ) ) ) ) ) ) )

The FM radio band considered technically superior because it can carry stereo broadcasts has cornered the airwaves for delivering music


( S ( NP-SBJ ( NNP AM ) ( NN stereo ) ) ( VP ( VBZ remains ) ( ADJP-PRD ( RB largely ) ( JJ undeveloped ) ) ( SBAR-PRP ( IN because ) ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBZ lacks ) ( NP ( DT a ) ( JJ uniform ) ( NN delivery ) ( NN system ) ) ) ) ) ) )

AM stereo remains largely undeveloped because it lacks a uniform delivery system


( S ( NP-SBJ ( NP ( DT The ) ( NNP National ) ( NNP Association ) ) ( PP ( IN of ) ( NP ( NNPS Broadcasters ) ) ) ) ( PP-TMP ( IN in ) ( NP ( NNP June ) ) ) ( VP ( VBD adopted ) ( NP ( NP ( DT an ) ( NN agenda ) ) ( PP ( IN for ) ( S-NOM ( VP ( VBG revitalizing ) ( NP ( NNP AM ) ( NN radio ) ) ) ) ) ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( VP ( VBZ includes ) ( PRN ( PP ( IN among ) ( NP ( JJ other ) ( NNS things ) ) ) ) ( S ( VP ( VP ( VBG pursuing ) ( NP ( NP ( JJR further ) ( NNP FCC ) ( NN action ) ) ( PP ( IN on ) ( S-NOM ( VP ( VBG selecting ) ( NP ( DT an ) ( NNP AM ) ( JJ stereo ) ( NN standard ) ) ) ) ) ) ) ( CC and ) ( VP ( VBG seeking ) ( NP ( NP ( DT a ) ( NN law ) ) ( VP ( VBG requiring ) ( S ( NP-SBJ ( DT all ) ( NN stereo ) ( NNS receivers ) ) ( VP ( TO to ) ( VP ( VB include ) ( NP ( NNP AM ) ( JJ stereo ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

The National Association of Broadcasters in June adopted an agenda for revitalizing AM radio that includes among other things pursuing further FCC action on selecting an AM stereo standard and seeking a law requiring all stereo receivers to include AM stereo


( S ( NP-SBJ ( NNS Listeners ) ) ( VP ( VBD turned ) ( PP-CLR ( TO to ) ( NP ( NP ( NNS radios ) ) ( VP ( VBN run ) ( PP-CLR ( IN on ) ( NP ( NNS batteries ) ) ) ) ) ) ( PP ( IN for ) ( NP ( NN news ) ) ) ( SBAR-TMP ( WHADVP-1 ( WRB when ) ) ( S ( NP-SBJ ( NP ( DT the ) ( NNP San ) ( NNP Francisco ) ( NN earthquake ) ) ( CC and ) ( NP ( NNP Hurricane ) ( NNP Hugo ) ) ) ( VP ( VBD cut ) ( NP ( NN power ) ( NNS lines ) ) ) ) ) ) )

Listeners turned to radios run on batteries for news when the San Francisco earthquake and Hurricane Hugo cut power lines


BRIEFS


( S ( NP-SBJ ( DT A ) ( NNP Modern ) ( NNP Healthcare ) ( NN magazine ) ( NN article ) ) ( VP ( VBZ says ) ( SBAR ( S ( NP-SBJ-1 ( NP ( CD 40 ) ( NN % ) ) ( PP ( IN of ) ( NP ( VBN surveyed ) ( NNS executives ) ) ) ) ( VP ( VBD admitted ) ( S ( VP ( VBG falling ) ( S-CLR ( ADJP-PRD ( RB asleep ) ) ) ( PP-TMP ( IN during ) ( NP ( JJ formal ) ( NNS presentations ) ) ) ) ) ) ) ) ) )

A Modern Healthcare magazine article says 40 % of surveyed executives admitted falling asleep during formal presentations


( S ( NP-SBJ ( NP ( NNP Lee ) ( NNP Co. ) ) ( NP ( DT the ) ( NNS jeans ) ( NN maker ) ) ) ( VP ( VBZ celebrates ) ( NP ( PRP$ its ) ( JJ 100th ) ( NN anniversary ) ) ( PP-MNR ( IN with ) ( NP ( NP ( DT a ) ( NN hardcover ) ( NN yearbook ) ) ( VP ( VBG featuring ) ( NP ( NP ( NNS photos ) ) ( PP ( IN of ) ( NP ( PRP$ its ) ( CD 10,000 ) ( NNS employees ) ) ) ) ) ) ) ) )

Lee Co. the jeans maker celebrates its 100th anniversary with a hardcover yearbook featuring photos of its 10,000 employees


( SINV ( S-TPC-1 ( NP-SBJ ( NP ( DT A ) ( VBN proposed ) ( NN conflict-of-interest ) ( NN policy ) ) ( PP ( IN for ) ( NP ( ADJP ( RB federally ) ( VBN funded ) ) ( JJ biomedical ) ( NNS researchers ) ) ) ) ( VP ( MD may ) ( VP ( VB thwart ) ( NP ( JJ many ) ( NN high-technology ) ( JJ new ) ( NNS ventures ) ) ) ) ) ( VP ( VBP say ) ) ( NP-SBJ ( NP ( NNS financiers ) ) ( NP ( NNS researchers ) ) ( CC and ) ( NP ( NN university ) ( NNS administrators ) ) ) )

A proposed conflict-of-interest policy for federally funded biomedical researchers may thwart many high-technology new ventures say financiers researchers and university administrators


( S ( NP-SBJ ( DT The ) ( NAC ( NNP National ) ( NNPS Institutes ) ( PP ( IN of ) ( NP ( NNP Health ) ) ) ) ( NN policy ) ) ( VP ( MD would ) ( VP ( VB require ) ( S ( NP-SBJ ( NNS researchers ) ) ( VP ( TO to ) ( VP ( VP ( VB cut ) ( NP ( NP ( JJ financial ) ( NNS ties ) ) ( PP ( IN with ) ( NP ( JJ health-care ) ( NNS businesses ) ) ) ) ) ( CC or ) ( VP ( VB lose ) ( NP ( PRP$ their ) ( NN government ) ( NN money ) ) ) ) ) ) ) ) )

The National Institutes of Health policy would require researchers to cut financial ties with health-care businesses or lose their government money


( S ( PP ( IN Among ) ( NP ( JJ other ) ( NNS concerns ) ) ) ( NP-SBJ ( DT the ) ( NN agency ) ) ( VP ( VBZ says ) ( SBAR ( S ( NP-SBJ-1 ( NP ( NNS researchers ) ) ( PP ( IN with ) ( NP ( NN business ) ( NNS ties ) ) ) ) ( VP ( VBP are ) ( ADJP-PRD ( RBR more ) ( JJ likely ) ( S ( VP ( TO to ) ( VP ( VB falsify ) ( NP ( NNS findings ) ) ( SBAR-PRP ( IN in ) ( NN order ) ( S ( VP ( TO to ) ( VP ( VB tout ) ( NP ( JJ new ) ( NNS drugs ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Among other concerns the agency says researchers with business ties are more likely to falsify findings in order to tout new drugs


( S ( SBAR-TMP ( IN As ) ( S ( NP-SBJ ( NP ( NNS ties ) ) ( PP ( IN between ) ( NP ( NP ( NN academia ) ) ( CC and ) ( NP ( NN venture ) ( NN capital ) ) ) ) ) ( VP ( VBP have ) ( VP ( VBN blossomed ) ( PP-TMP ( IN in ) ( NP ( JJ recent ) ( NNS years ) ) ) ) ) ) ) ( NP-SBJ ( NP ( JJ governmental ) ( NN fear ) ) ( PP ( IN of ) ( NP ( NN abuse ) ) ) ) ( VP ( VBZ has ) ( VP ( VBN risen ) ) ) )

As ties between academia and venture capital have blossomed in recent years governmental fear of abuse has risen


( SINV ( S-TPC-1 ( CC But ) ( NP-SBJ ( DT the ) ( NNS guidelines ) ) ( VP ( MD could ) ( VP ( VB make ) ( S ( NP-SBJ ( NP ( PRP it ) ) ) ( ADJP-PRD ( JJ impossible ) ) ( S-2 ( VP ( TO to ) ( VP ( VB commercialize ) ( NP ( NN research ) ) ) ) ) ) ) ) ) ( VP ( VBZ says ) ) ( NP-SBJ ( NP ( NNP Kenneth ) ( NNP Smith ) ) ( NP ( NP ( JJ associate ) ( NN provost ) ) ( CC and ) ( NP ( NP ( NN vice ) ( NN president ) ) ( PP ( IN for ) ( NP ( NN research ) ) ) ) ( PP-LOC ( IN at ) ( NP ( NP ( NNP Massachusetts ) ( NNP Institute ) ) ( PP ( IN of ) ( NP ( NNP Technology ) ) ) ) ) ) ) )

But the guidelines could make it impossible to commercialize research says Kenneth Smith associate provost and vice president for research at Massachusetts Institute of Technology


( S ( NP-SBJ ( DT The ) ( NNP NIH ) ) ( VP ( VBZ is ) ( VP ( VBG asking ) ( NP ( NP ( NN grant ) ( NNS recipients ) ) ( CC and ) ( NP ( NNS others ) ) ) ( PP-CLR ( IN for ) ( NP ( NP ( NNS comments ) ) ( PP ( IN on ) ( NP ( DT the ) ( VBN proposed ) ( NNS guidelines ) ) ) ) ) ( PP-TMP ( IN until ) ( NP ( NNP Dec. ) ( CD 15 ) ) ) ) ) )

The NIH is asking grant recipients and others for comments on the proposed guidelines until Dec. 15


( S ( PP-TMP ( IN After ) ( NP ( DT that ) ) ) ( NP-SBJ ( PRP it ) ) ( VP ( MD will ) ( VP ( VB make ) ( NP ( NP ( DT a ) ( JJ final ) ( NN decision ) ) ( PP ( IN on ) ( NP ( DT the ) ( NN policy ) ) ) ) ) ) )

After that it will make a final decision on the policy


( SINV ( S-TPC-1 ( NP-SBJ ( DT The ) ( NNS guidelines ) ) ( VP ( MD could ) ( VP ( VB foil ) ( NP ( NP ( JJ future ) ( NNS arrangements ) ) ( ADJP ( JJ similar ) ( PP ( TO to ) ( NP ( NP ( DT the ) ( NN deal ) ) ( PP ( IN behind ) ( NP ( NP ( NNP Lithox ) ( NNP Inc. ) ) ( NP ( DT a ) ( NAC-LOC ( NNP Salem ) ( NNP Mass. ) ) ( NN start-up ) ) ) ) ) ) ) ) ) ) ) ( VP ( VBZ says ) ) ( NP-SBJ ( NP ( NNP Robert ) ( NNP Daly ) ) ( NP ( NP ( DT a ) ( VBG managing ) ( NN partner ) ) ( PP ( IN of ) ( NP ( NP ( NNP TA ) ( NNPS Associates ) ) ( NP ( DT a ) ( JJ venture-capital ) ( NN firm ) ) ) ) ) ) )

The guidelines could foil future arrangements similar to the deal behind Lithox Inc. a Salem Mass. start-up says Robert Daly a managing partner of TA Associates a venture-capital firm


( S ( PP ( IN With ) ( NP ( QP ( CD 2.3 ) ( CD million ) ) ) ) ( NP-SBJ ( NP ( PRP he ) ) ( CC and ) ( NP ( JJ other ) ( NNS investors ) ) ) ( VP ( VBD launched ) ( NP-1 ( NNP Lithox ) ) ( NP-TMP ( JJ last ) ( NN year ) ) ( S-PRP ( VP ( TO to ) ( VP ( NN market ) ( NP ( NP ( DT a ) ( NN gallstone ) ( NN cure ) ) ( VP ( NN being ) ( VP ( VBN developed ) ( PP ( IN by ) ( NP-LGS ( NP ( NNS researchers ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( NNP University ) ) ( PP ( IN of ) ( NP ( NNP California ) ) ) ( PP-LOC ( IN at ) ( NP ( NNP San ) ( NNP Diego ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

With 2.3 million he and other investors launched Lithox last year to market a gallstone cure being developed by researchers of the University of California at San Diego


( S ( NP-SBJ ( NP ( DT The ) ( NNS researchers ) ) ( SBAR ( WHNP-2 ( WP who ) ) ( S ( VP ( VBP are ) ( VP ( VBG being ) ( VP ( VBN financed ) ( PP ( IN by ) ( NP-LGS ( DT the ) ( NNP Lithox ) ( NNS funds ) ) ) ) ) ) ) ) ) ( VP ( MD will ) ( VP ( VB receive ) ( NP ( DT a ) ( NX ( NX ( NN royalty ) ) ( CC or ) ( NX ( NX ( NN percentage ) ) ( PP ( IN of ) ( NP ( NNS sales ) ) ) ) ) ) ( SBAR-ADV ( IN if ) ( S ( NP-SBJ ( PRP$ their ) ( NN research ) ) ( VP ( VBZ yields ) ( NP ( DT a ) ( JJ commercial ) ( NN product ) ) ) ) ) ) ) )

The researchers who are being financed by the Lithox funds will receive a royalty or percentage of sales if their research yields a commercial product


( S ( S-TPC-1 ( CC But ) ( SBAR-PRP ( IN because ) ( S ( NP-SBJ ( NP ( DT the ) ( NNP University ) ) ( PP ( IN of ) ( NP ( NNP California ) ) ) ) ( PP ( IN like ) ( NP ( JJ many ) ( JJ other ) ( NNS universities ) ) ) ( VP ( VBZ shares ) ( NP ( PRP$ its ) ( NNS royalties ) ) ( PP ( IN with ) ( NP ( NNS researchers ) ) ) ) ) ) ( NP-SBJ ( PRP it ) ) ( VP ( MD may ) ( VP ( VB disqualify ) ( NP ( PRP itself ) ) ( PP-CLR ( IN from ) ( NP ( JJ federal ) ( NNS funds ) ) ) ( PP-LOC ( IN under ) ( NP ( DT the ) ( VBN proposed ) ( NNS guidelines ) ) ) ) ) ) ( NP-SBJ ( NNP Mr. ) ( NNP Daly ) ) ( VP ( VBZ says ) ) )

But because the University of California like many other universities shares its royalties with researchers it may disqualify itself from federal funds under the proposed guidelines Mr. Daly says


( S ( NP-SBJ ( DT The ) ( JJ high-tech ) ( NN industry ) ) ( VP ( VBZ is ) ( ADJP-PRD ( JJ full ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( NN kind ) ) ( PP ( IN of ) ( NP ( NN arrangement ) ) ) ( SBAR ( WHNP-1 ( IN that ) ) ( S ( NP-SBJ ( DT the ) ( JJ new ) ( NNS guidelines ) ) ( VP ( MD would ) ( VP ( VB affect ) ) ) ) ) ) ) ) ) )

The high-tech industry is full of the kind of arrangement that the new guidelines would affect


( S ( PP ( IN For ) ( NP ( NN instance ) ) ) ( NP-SBJ-2 ( NP ( NNP Commonwealth ) ( NNP BioVentures ) ( NNP Inc. ) ) ( NP ( DT a ) ( JJ venture-capital ) ( NN concern ) ) ) ( NP-TMP ( JJ last ) ( NN month ) ) ( VP ( VBD invested ) ( NP ( CD 600,000 ) ) ( S-PRP-CLR ( VP ( TO to ) ( VP ( VB launch ) ( NP ( NP ( NNP Amira ) ( NNP Inc. ) ) ( NP ( NP ( DT a ) ( NAC-LOC ( NNP Worcester ) ( NNP Mass. ) ) ( NN concern ) ) ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( VP ( MD will ) ( VP ( VB produce ) ( NP ( NNS pharmaceuticals ) ) ) ) ) ) ) ) ) ) ) ) )

For instance Commonwealth BioVentures Inc. a venture-capital concern last month invested 600,000 to launch Amira Inc. a Worcester Mass. concern that will produce pharmaceuticals


( S ( NP-SBJ ( NNS Scientists ) ( NNP Rima ) ( NNP Kaddurah-Daouk ) ( CC and ) ( NNP Paul ) ( NNP Schimmel ) ) ( VP ( VBD conducted ) ( NP ( DT the ) ( JJ initial ) ( NN research ) ) ( PP-LOC ( IN at ) ( NP ( NP ( DT the ) ( NNP Massachusetts ) ( NNP Institute ) ) ( PP ( IN of ) ( NP ( NNP Technology ) ) ) ) ) ) )

Scientists Rima Kaddurah-Daouk and Paul Schimmel conducted the initial research at the Massachusetts Institute of Technology


( S ( SBAR-ADV ( IN While ) ( S ( NP-SBJ-2 ( NNP Ms. ) ( NNP Kaddurah-Daouk ) ) ( VP ( VBD left ) ( NP ( NNP MIT ) ) ( S-PRP ( VP ( TO to ) ( VP ( VB head ) ( NP ( NNP Amira ) ) ) ) ) ) ) ) ( NP-SBJ-1 ( NNP Prof. ) ( NNP Schimmel ) ) ( VP ( MD will ) ( VP ( VB continue ) ( S ( VP ( TO to ) ( VP ( VP ( VB work ) ( PP-LOC ( IN at ) ( NP ( NNP MIT ) ) ) ) ( VP ( VB serve ) ( PP-CLR ( IN on ) ( NP ( NP ( NNP Amira ) ( POS 's ) ) ( NN board ) ) ) ) ( CC and ) ( VP ( VB own ) ( NP ( NP ( DT a ) ( JJ small ) ( NN equity ) ( NN stake ) ) ( PP ( IN in ) ( NP ( DT the ) ( NN company ) ) ) ) ) ) ) ) ) ) )

While Ms. Kaddurah-Daouk left MIT to head Amira Prof. Schimmel will continue to work at MIT serve on Amira 's board and own a small equity stake in the company


( S ( NP-SBJ ( DT The ) ( NNP Amira ) ( NN transaction ) ) ( VP ( VBZ is ) ( ADJP-PRD ( JJ typical ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( NN way ) ) ( SBAR ( S ( NP-SBJ ( JJ venture-capital ) ( NNS firms ) ) ( VP ( VBP are ) ( VP ( VBG approaching ) ( NP ( NP ( DT the ) ( NN task ) ) ( PP ( IN of ) ( S-NOM ( VP ( VBG commercializing ) ( NP ( NN biotechnology ) ( NN research ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

The Amira transaction is typical of the way venture-capital firms are approaching the task of commercializing biotechnology research


( SINV ( S-TPC-1 ( SBAR-ADV ( IN While ) ( S ( NP-SBJ ( NNS universities ) ) ( VP ( VBP develop ) ( NP ( DT the ) ( JJ basic ) ( NN research ) ) ) ) ) ( NP-SBJ ( NN venture ) ( NNS capitalists ) ) ( VP ( VBP are ) ( NP-PRD ( NP ( DT the ) ( NNS ones ) ) ( VP ( ADVP ( RB best ) ) ( VBD positioned ) ( S ( VP ( TO to ) ( VP ( VB finance ) ( NP ( PRP$ its ) ( NN commercialization ) ) ) ) ) ) ) ) ) ( VP ( VBZ says ) ) ( NP-SBJ ( NP ( NNP Gloria ) ( NNP W. ) ( NNP Doubleday ) ) ( PP ( IN of ) ( NP ( NNP Commonwealth ) ) ) ) )

While universities develop the basic research venture capitalists are the ones best positioned to finance its commercialization says Gloria W. Doubleday of Commonwealth


( S ( NP-SBJ ( DT This ) ) ( VP ( VBZ is ) ( NP-PRD ( NP ( DT the ) ( JJS best ) ( NN way ) ) ( SBAR ( S ( VP ( TO to ) ( VP ( VB transfer ) ( NP ( NN technology ) ) ( PP-CLR ( RB straight ) ( IN off ) ( NP ( NP ( DT the ) ( NNS campuses ) ) ( PP ( IN of ) ( NP ( NNS universities ) ) ) ) ) ) ) ) ) ) ) )

This is the best way to transfer technology straight off the campuses of universities


( S ( S-TPC-2 ( CC But ) ( NP-SBJ ( DT the ) ( JJ new ) ( NNS guidelines ) ) ( VP ( MD could ) ( VP ( VB prevent ) ( NP-3 ( NP ( NNS scientists ) ) ( PP ( IN like ) ( NP ( NNP Prof. ) ( NNP Schimmel ) ) ) ) ( PP-CLR ( IN from ) ( S-NOM ( VP ( VBG being ) ( VP ( VBN involved ) ( PP-CLR ( IN with ) ( NP ( NP ( NNS start-ups ) ) ( PP ( JJ such ) ( IN as ) ( NP ( NNP Amira ) ) ) ) ) ) ) ) ) ) ) ) ( NP-SBJ ( NN venture ) ( NNS capitalists ) ) ( VP ( VBP point ) ( PRT ( RP out ) ) ) )

But the new guidelines could prevent scientists like Prof. Schimmel from being involved with start-ups such as Amira venture capitalists point out


( S ( S-TPC-2 ( CC And ) ( SBAR-ADV ( IN if ) ( S ( NP-SBJ ( DT that ) ) ( VP ( VBZ happens ) ) ) ) ( NP-SBJ-1 ( NP ( DT the ) ( JJ entire ) ( NN process ) ) ( PP ( IN of ) ( S-NOM ( VP ( VBG transferring ) ( NP ( NN technology ) ) ( PP-DIR ( TO to ) ( NP ( DT the ) ( NN marketplace ) ) ) ) ) ) ) ( VP ( MD could ) ( VP ( VB be ) ( VP ( VBN harmed ) ) ) ) ) ( NP-SBJ ( PRP they ) ) ( VP ( VBP say ) ) )

And if that happens the entire process of transferring technology to the marketplace could be harmed they say


( S ( NP-SBJ ( NP ( DT The ) ( NNS stakes ) ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( NN controversy ) ) ) ) ( VP ( VBP are ) ( ADJP-PRD ( JJ large ) ) ) )

The stakes in the controversy are large


( S ( NP-TMP ( JJ Last ) ( NN year ) ) ( NP-SBJ-1 ( NN venture ) ( NNS capitalists ) ) ( VP ( VBD spent ) ( NP ( DT an ) ( QP ( VBN estimated ) ( CD 600 ) ( CD million ) ) ) ( S-PRP-CLR ( VP ( TO to ) ( VP ( VB finance ) ( NP ( JJ start-up ) ( NNS companies ) ) ( PP-LOC ( IN in ) ( NP ( UCP ( JJ medical ) ( CC and ) ( NN biotechnology ) ) ( NNS businesses ) ) ) ) ) ) ( PP ( VBG according ) ( PP ( TO to ) ( NP ( NP ( DT the ) ( NNP National ) ( NNP Venture ) ( NNP Capital ) ( NNP Association ) ) ( NP ( DT a ) ( NN trade ) ( NN group ) ) ) ) ) ) )

Last year venture capitalists spent an estimated 600 million to finance start-up companies in medical and biotechnology businesses according to the National Venture Capital Association a trade group


( S ( NP-SBJ ( NP ( JJ Many ) ) ( PP ( IN of ) ( NP ( DT the ) ( NNS deals ) ) ) ) ( VP ( VBD involved ) ( NP ( NP ( NNS transactions ) ) ( SBAR ( WHPP-1 ( IN in ) ( WHNP ( WDT which ) ) ) ( S ( NP-SBJ-2 ( JJ scientific ) ( NNS institutions ) ( CC or ) ( NNS researchers ) ) ( VP ( VBN agreed ) ( S ( VP ( TO to ) ( VP ( VB commercialize ) ( NP ( PRP$ their ) ( NN work ) ) ) ) ) ( PP ( IN in ) ( NP ( NP ( NN return ) ) ( PP ( IN for ) ( NP ( NP ( DT an ) ( NN equity ) ( NN stake ) ) ( CC or ) ( NP ( NNS royalties ) ) ) ) ) ) ) ) ) ) ) )

Many of the deals involved transactions in which scientific institutions or researchers agreed to commercialize their work in return for an equity stake or royalties


( SINV ( S-TPC-1 ( PP-LOC ( IN In ) ( NP ( NP ( DT many ) ) ( PP ( IN of ) ( NP ( DT these ) ( VBZ deals ) ) ) ) ) ( NP-SBJ ( NN venture ) ( NNS capitalists ) ) ( VP ( VBD had ) ( NP ( DT the ) ( NN inside ) ( NN track ) ) ) ) ( VP ( VBZ says ) ) ( NP-SBJ ( NP ( NNP Lawrence ) ( NNP Bock ) ) ( PP ( IN of ) ( NP ( NP ( NNP Avalon ) ( NNP Ventures ) ) ( NP-LOC ( NP ( NNP La ) ( NNP Jolla ) ) ( NP ( NNP Calif ) ) ) ) ) ) )

In many of these deals venture capitalists had the inside track says Lawrence Bock of Avalon Ventures La Jolla Calif


( S ( S-TPC-2 ( NP-SBJ-1 ( NNS Investors ) ) ( VP ( VBD were ) ( ADJP-PRD ( JJ willing ) ( S ( VP ( TO to ) ( VP ( VB gamble ) ( PP-CLR ( IN on ) ( NP ( JJ new ) ( NNS technologies ) ) ) ( SBAR-PRP ( IN because ) ( S ( NP-SBJ ( PRP we ) ) ( VP ( VBD had ) ( NP ( NP ( JJ exclusive ) ( NNS rights ) ) ( PP ( TO to ) ( NP ( DT those ) ( NNS technologies ) ) ) ) ) ) ) ) ) ) ) ) ) ( NP-SBJ ( PRP he ) ) ( VP ( VBZ adds ) ) )

Investors were willing to gamble on new technologies because we had exclusive rights to those technologies he adds


( S ( CC But ) ( PP-LOC ( IN under ) ( NP ( DT the ) ( VBN proposed ) ( NNS guidelines ) ) ) ( NP-SBJ-2 ( DT all ) ( ADJP ( RB federally ) ( VBN funded ) ) ( NN research ) ) ( VP ( MD will ) ( VP ( VB have ) ( S ( VP ( TO to ) ( VP ( VB be ) ( VP ( VBN reported ) ( ADVP-MNR ( RB publicly ) ) ( SBAR-PRP ( IN so ) ( IN that ) ( S ( NP-SBJ ( NN anyone ) ) ( VP ( MD can ) ( VP ( VB capitalize ) ( PP-CLR ( IN on ) ( NP ( DT the ) ( NN work ) ) ) ) ) ) ) ) ) ) ) ) ) )

But under the proposed guidelines all federally funded research will have to be reported publicly so that anyone can capitalize on the work


( S ( S-TPC-1 ( PP ( IN Without ) ( NP ( DT the ) ( NN exclusivity ) ) ) ( NP-SBJ ( JJS most ) ( NN venture ) ( NNS capitalists ) ) ( VP ( MD wo ) ( RB n't ) ( VP ( VB have ) ( NP ( DT the ) ( NN incentive ) ( S ( VP ( TO to ) ( VP ( VB invest ) ( PP-CLR ( IN in ) ( NP ( JJ such ) ( NNS deals ) ) ) ) ) ) ) ) ) ) ( NP-SBJ ( NNP Mr. ) ( NNP Bock ) ) ( VP ( VBZ says ) ) )

Without the exclusivity most venture capitalists wo n't have the incentive to invest in such deals Mr. Bock says


( S ( NP-TMP ( JJ Last ) ( NN year ) ) ( PP ( IN for ) ( NP ( NN example ) ) ) ( NP-SBJ-1 ( NNP Avalon ) ( CC and ) ( NNS others ) ) ( VP ( VBD invested ) ( NP ( QP ( CD 14 ) ( CD million ) ) ) ( PP-LOC-CLR ( IN in ) ( NP ( NP ( NNP Athena ) ( NNP Neurosciences ) ( NNP Inc. ) ) ( NP-LOC ( NP ( NNP South ) ( NNP San ) ( NNP Francisco ) ) ( NP ( NNP Calif. ) ) ) ) ) ( S-PRP ( VP ( TO to ) ( VP ( VB license ) ( CC and ) ( VB develop ) ( NP ( NP ( NN technology ) ) ( PP ( IN for ) ( NP ( NP ( NN delivery ) ) ( PP ( IN of ) ( NP ( NNS drugs ) ) ) ( PP ( TO to ) ( NP ( DT the ) ( NN brain ) ) ) ) ) ) ) ) ) ) )

Last year for example Avalon and others invested 14 million in Athena Neurosciences Inc. South San Francisco Calif. to license and develop technology for delivery of drugs to the brain


( S ( S-TPC-2 ( CC But ) ( SBAR-TMP ( IN before ) ( S ( NP-SBJ-1 ( NNP Athena ) ) ( VP ( VBD was ) ( ADJP-PRD ( JJ able ) ( S ( VP ( TO to ) ( VP ( VB get ) ( NP ( NP ( DT an ) ( JJ exclusive ) ( NN license ) ) ( PP ( TO to ) ( NP ( DT the ) ( NN technology ) ) ) ) ) ) ) ) ) ) ) ( NP-SBJ ( DT the ) ( NNP Federal ) ( NNP Register ) ) ( VP ( VBD published ) ( NP ( NP ( JJS most ) ) ( PP ( IN of ) ( NP ( DT the ) ( NNS details ) ) ) ) ( S-ADV ( VP ( VBG giving ) ( NP ( NP ( DT all ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( NN company ) ( POS 's ) ) ( JJ potential ) ( NNS competitors ) ) ) ) ( NP ( DT a ) ( NN chance ) ( S ( VP ( TO to ) ( VP ( VB exploit ) ( NP ( PRP it ) ) ) ) ) ) ) ) ) ) ( NP-SBJ ( NNP Mr. ) ( NNP Bock ) ) ( VP ( VBZ says ) ) )

But before Athena was able to get an exclusive license to the technology the Federal Register published most of the details giving all of the company 's potential competitors a chance to exploit it Mr. Bock says


( S ( NP-SBJ ( NNP Athena ) ) ( VP ( VP ( ADVP-TMP ( RB eventually ) ) ( VBD acquired ) ( NP ( NP ( JJ exclusive ) ( NNS rights ) ) ( PP ( TO to ) ( NP ( DT the ) ( NN technology ) ) ) ) ) ( CC and ) ( VP ( ADVP-TMP ( RB currently ) ) ( VBZ is ) ( VP ( VBG developing ) ( NP ( PRP it ) ) ) ) ) )

Athena eventually acquired exclusive rights to the technology and currently is developing it


( SINV ( CC But ) ( VP ( VBZ says ) ) ( NP-SBJ ( NNP Mr. ) ( NNP Bock ) ) ( S-1 ( NP-SBJ ( PRP It ) ) ( VP ( VBD was ) ( NP-PRD ( DT a ) ( JJ close ) ( NN call ) ) ) ) )

But says Mr. Bock It was a close call


( S ( S-TPC-1 ( NP-SBJ ( DT The ) ( VBN proposed ) ( NNS guidelines ) ) ( VP ( MD could ) ( ADVP ( RB also ) ) ( VP ( VP ( VB delay ) ( NP ( NN commercialization ) ) ) ( CC and ) ( VP ( VB force ) ( S ( NP-SBJ ( JJ small ) ( NNS companies ) ) ( VP ( TO to ) ( VP ( VB waste ) ( NP ( JJ scarce ) ( NN capital ) ) ) ) ) ) ) ) ) ( NP-SBJ ( NNS entrepreneurs ) ) ( VP ( VBP say ) ) )

The proposed guidelines could also delay commercialization and force small companies to waste scarce capital entrepreneurs say


( SINV ( S-TPC-1 ( SBAR-ADV ( IN If ) ( S ( NP-SBJ ( NNS start-ups ) ) ( VP ( MD ca ) ( RB n't ) ( VP ( VB have ) ( NP ( NP ( JJ early ) ( NN access ) ) ( PP ( TO to ) ( NP ( NP ( NN research ) ) ( VP ( NN being ) ( VP ( VBN conducted ) ( PP-LOC ( IN at ) ( NP ( NNS institutions ) ) ) ) ) ) ) ) ) ) ) ) ( NP-SBJ-2 ( PRP we ) ) ( VP ( VBP have ) ( S ( VP ( TO to ) ( VP ( VP ( VB replicate ) ( NP ( PRP it ) ) ( NP-ADV ( PRP ourselves ) ) ) ( CC or ) ( VP ( VB do ) ( PP-CLR ( IN without ) ( NP ( DT the ) ( NN research ) ) ) ) ) ) ) ) ) ( VP ( VBZ says ) ) ( NP-SBJ ( NP ( NNP Ruth ) ( NNP Emyanitoff ) ) ( NP ( NP ( NN manager ) ) ( PP ( IN of ) ( NP ( NN business ) ( NN development ) ) ) ( PP-LOC ( IN at ) ( NP ( NP ( NNP Applied ) ( NNP bioTechnology ) ( NNP Inc. ) ) ( NP ( DT a ) ( NAC-LOC ( NNP Cambridge ) ( NNP Mass. ) ) ( NN concern ) ) ) ) ) ) )

If start-ups ca n't have early access to research being conducted at institutions we have to replicate it ourselves or do without the research says Ruth Emyanitoff manager of business development at Applied bioTechnology Inc. a Cambridge Mass. concern


( S ( S-TPC-1 ( S-NOM-SBJ ( VP ( VBG Duplicating ) ( NP ( NN research ) ) ) ) ( VP ( VBZ is ) ( ADJP-PRD ( DT both ) ( JJ costly ) ( CC and ) ( JJ time-consuming ) ) ( PP ( IN for ) ( NP ( DT a ) ( NN start-up ) ) ) ) ) ( NP-SBJ ( NNP Ms. ) ( NNP Emyanitoff ) ) ( VP ( VBZ says ) ) )

Duplicating research is both costly and time-consuming for a start-up Ms. Emyanitoff says


( S ( PP ( IN For ) ( NP ( PRP$ its ) ( NN part ) ) ) ( NP-SBJ ( NNP NIH ) ) ( VP ( VBZ insists ) ( SBAR ( IN that ) ( S ( NP-SBJ ( PRP$ its ) ( NNS guidelines ) ) ( VP ( MD should ) ( RB not ) ( VP ( VB stifle ) ( NP ( NP ( NN research ) ( NN creativity ) ) ( CC or ) ( NP ( NP ( NN technology ) ( NN transfer ) ) ( PP ( IN from ) ( NP ( DT the ) ( NN research ) ( NN laboratory ) ) ) ( PP ( TO to ) ( NP ( JJ commercial ) ( NN use ) ) ) ) ) ) ) ) ) ) )

For its part NIH insists that its guidelines should not stifle research creativity or technology transfer from the research laboratory to commercial use


( SINV ( S-TPC-4 ( NP-SBJ-2 ( NP ( NNS Universities ) ) ( PP ( JJ such ) ( IN as ) ( NP ( NNP Harvard ) ( CC and ) ( NNP MIT ) ) ) ) ( VP ( MD should ) ( VP ( VB be ) ( ADJP-PRD ( JJ able ) ( S ( VP ( TO to ) ( VP ( VB develop ) ( NP ( NP ( DT a ) ( NN way ) ) ( SBAR ( S ( VP ( TO to ) ( VP ( VB act ) ( PP-CLR ( IN as ) ( NP ( NP ( NNS brokers ) ) ( PP ( IN for ) ( NP ( DT the ) ( JJ individual ) ( NNS scientists ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ( VP ( VBZ says ) ) ( NP-SBJ ( NP ( NNP Katherine ) ( NNP Bick ) ) ( SBAR ( WHNP-1 ( WP who ) ) ( S ( VP ( VBZ oversees ) ( NP ( DT the ) ( JJ huge ) ( NNP NIH ) ( NNS grants ) ( NN program ) ) ( PP-MNR ( IN as ) ( NP ( NP ( PRP$ its ) ( NN deputy ) ( NN director ) ) ( PP ( IN for ) ( NP ( JJ extramural ) ( NN research ) ) ) ) ) ) ) ) ) )

Universities such as Harvard and MIT should be able to develop a way to act as brokers for the individual scientists says Katherine Bick who oversees the huge NIH grants program as its deputy director for extramural research


( S ( NP-SBJ ( NNP NIH ) ( NN staff ) ( NNS members ) ) ( VP ( VBP believe ) ( SBAR ( S ( NP-SBJ-2 ( DT the ) ( NNS guidelines ) ) ( VP ( VBP are ) ( ADJP-PRD ( JJ essential ) ( S ( VP ( TO to ) ( VP ( VB prevent ) ( NP ( NP ( DT the ) ( NN escalation ) ) ( PP ( IN of ) ( NP ( NP ( NNS problems ) ) ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( VP ( VBP have ) ( ADVP ( RB already ) ) ( VP ( VBN begun ) ( S ( VP ( TO to ) ( VP ( VB surface ) ( PP-LOC ( IN in ) ( NP ( JJ scientific ) ( NNS ventures ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

NIH staff members believe the guidelines are essential to prevent the escalation of problems that have already begun to surface in scientific ventures


( S ( ADVP-TMP ( RB Not ) ( RB long ) ( RB ago ) ) ( NP-SBJ-1 ( NP ( NNS scientists ) ) ( VP ( VBG holding ) ( NP ( NP ( NN stock ) ) ( PP-LOC ( IN in ) ( NP ( NNP Spectra ) ( NNP Pharmaceutical ) ( NNPS Services ) ( NNP Inc. ) ) ) ) ) ) ( VP ( VBD were ) ( VP ( VBN accused ) ( PP-CLR ( IN of ) ( S-NOM ( VP ( VBG falsifying ) ( NP ( NN research ) ) ( S-PRP ( VP ( TO to ) ( VP ( VB boost ) ( NP ( DT the ) ( NN stock ) ) ) ) ) ) ) ) ) ) )

Not long ago scientists holding stock in Spectra Pharmaceutical Services Inc. were accused of falsifying research to boost the stock


( S ( NP-SBJ ( JJ Many ) ( NNS officials ) ) ( VP ( VBP are ) ( ADVP ( RB also ) ) ( ADJP-PRD ( VBN concerned ) ( PP ( IN about ) ( NP ( NP ( NNS companies ) ) ( VP ( VBG getting ) ( NP ( NP ( DT a ) ( JJ free ) ( NN ride ) ) ( PP ( IN on ) ( NP ( JJ government-sponsored ) ( NN research ) ) ) ) ) ) ) ) ) )

Many officials are also concerned about companies getting a free ride on government-sponsored research


( S ( NP-SBJ ( DT A ) ( JJ congressional ) ( NN subcommitee ) ) ( VP ( VBZ has ) ( VP ( VBN been ) ( VP ( VBG investigating ) ( NP ( NP ( DT the ) ( JJ potential ) ( NN abuse ) ) ( PP ( IN from ) ( NP ( NP ( NNS researchers ) ) ( VP ( VBG holding ) ( NP ( NP ( NN stock ) ) ( PP-LOC ( IN in ) ( NP ( NP ( NNS companies ) ) ( VP ( VBG exploiting ) ( NP ( PRP$ their ) ( NN research ) ) ) ) ) ) ) ) ) ) ) ) ) )

A congressional subcommitee has been investigating the potential abuse from researchers holding stock in companies exploiting their research


( S ( PP ( IN Among ) ( NP ( JJ other ) ( NNS provisions ) ) ) ( NP-SBJ ( DT the ) ( NNP NIH ) ( NNS guidelines ) ) ( VP ( MD would ) ( VP ( VB prohibit ) ( NP-3 ( NP ( NNS researchers ) ) ( CC and ) ( NP ( NP ( NNS members ) ) ( PP ( IN of ) ( NP ( PRP$ their ) ( JJ immediate ) ( NNS families ) ) ) ) ) ( PP-CLR ( IN from ) ( S-NOM ( VP ( VBG holding ) ( NP ( NP ( NN stock ) ) ( PP-LOC ( IN in ) ( NP ( NP ( DT any ) ( NN company ) ) ( SBAR ( WHNP-2 ( WDT that ) ) ( S ( VP ( VBZ is ) ( VP ( VBN affected ) ( PP ( IN by ) ( NP-LGS ( NP ( DT the ) ( NN outcome ) ) ( PP ( IN of ) ( NP ( PRP$ their ) ( NN research ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Among other provisions the NIH guidelines would prohibit researchers and members of their immediate families from holding stock in any company that is affected by the outcome of their research


( S ( NP-SBJ ( NP ( NNP Ms. ) ( NNP Bick ) ) ( NP ( DT the ) ( NNP NIH ) ( NN administrator ) ) ) ( VP ( VBZ says ) ( SBAR ( S ( NP-SBJ ( DT the ) ( UCP ( NN business ) ( CC and ) ( JJ scientific ) ) ( NN community ) ) ( VP ( VBZ is ) ( VP ( VBG overreacting ) ( PP-CLR ( TO to ) ( SBAR-NOM ( WHNP-1 ( WP what ) ) ( S ( NP-SBJ ( DT the ) ( NN agency ) ) ( ADVP ( RB merely ) ) ( VP ( VBD meant ) ( S ( VP ( TO to ) ( VP ( VB be ) ( NP-PRD ( NP ( NNS ideas ) ) ( PP ( IN for ) ( NP ( NN discussion ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Ms. Bick the NIH administrator says the business and scientific community is overreacting to what the agency merely meant to be ideas for discussion


( S ( S-TPC-1 ( NP-SBJ ( NP ( DT The ) ( NNS predictions ) ) ( PP ( IN of ) ( NP ( NN doom ) ) ) ) ( VP ( VBP are ) ( ADJP-PRD ( JJ premature ) ) ) ) ( NP-SBJ ( PRP she ) ) ( VP ( VBZ says ) ) )

The predictions of doom are premature she says


( S ( S-TPC-2 ( CC But ) ( SBAR-TMP ( WHADVP-1 ( WRB when ) ) ( S ( NP-SBJ ( NP ( NNS agencies ) ) ( PP ( IN like ) ( NP ( DT the ) ( NNP NIH ) ) ) ) ( VP ( VBP circulate ) ( NP ( NNS guidelines ) ) ) ) ) ( NP-SBJ ( PRP they ) ) ( VP ( VBP 've ) ( ADVP-TMP ( RB often ) ) ( ADVP ( RB already ) ) ( VP ( VBN formulated ) ( NP ( NN policy ) ) ) ) ) ( NP-SBJ ( NN veteran ) ( NNS scientists ) ) ( VP ( VBP say ) ) )

But when agencies like the NIH circulate guidelines they 've often already formulated policy veteran scientists say


( S ( ADVP ( RB Indeed ) ) ( NP-SBJ ( NNS institutions ) ) ( ADVP ( RB already ) ) ( VP ( VBP are ) ( VP ( VBG taking ) ( NP-CLR ( NN note ) ) ) ) )

Indeed institutions already are taking note


( S ( PP-TMP ( IN On ) ( NP ( NNP Sept. ) ( CD 14 ) ) ) ( NP-SBJ-2 ( NNP Harvard ) ) ( VP ( VBD began ) ( S ( VP ( VBG circulating ) ( NP ( NP ( DT a ) ( JJ conflict-of-interest ) ( NN policy ) ( NN statement ) ) ( SBAR ( WHNP-1 ( IN that ) ) ( S ( PP ( IN in ) ( NP ( NN effect ) ) ) ( VP ( MD would ) ( VP ( VB follow ) ( NP ( DT the ) ( NNP NIH ) ( NNS guidelines ) ) ( ADVP-MNR ( RB faithfully ) ) ) ) ) ) ) ) ) ) )

On Sept. 14 Harvard began circulating a conflict-of-interest policy statement that in effect would follow the NIH guidelines faithfully


( S ( NP-SBJ ( NP ( DT The ) ( NNP University ) ) ( PP ( IN of ) ( NP ( NNP California ) ) ) ( PP-LOC ( IN at ) ( NP ( NNP San ) ( NNP Francisco ) ) ) ) ( VP ( VBZ is ) ( ADVP ( RB also ) ) ( VP ( VBG circulating ) ( NP ( NP ( DT a ) ( NN memo ) ) ) ( PP-CLR ( IN among ) ( NP ( PRP$ its ) ( JJ scientific ) ( NN faculty ) ) ) ( SBAR-1 ( WHNP-2 ( WDT that ) ) ( S ( VP ( MD will ) ( VP ( VB restrict ) ( NP ( NP ( NN contact ) ) ( PP ( IN with ) ( NP ( NP ( DT the ) ( NN world ) ) ( PP ( IN of ) ( NP ( NN business ) ) ) ) ) ) ) ) ) ) ) ) )

The University of California at San Francisco is also circulating a memo among its scientific faculty that will restrict contact with the world of business


( S ( PP-LOC ( IN In ) ( NP ( JJ many ) ( JJ other ) ( NNS institutions ) ) ) ( NP-SBJ ( NNS scientists ) ) ( VP ( VBP are ) ( VP ( VBG shunning ) ( NP ( NP ( NNS contacts ) ) ( PP ( IN with ) ( NP ( NN venture ) ( NNS investors ) ) ) ) ( SBAR-TMP ( IN until ) ( S ( NP-SBJ-1 ( DT the ) ( NNP NIH ) ( NN policy ) ) ( VP ( VBZ is ) ( VP ( VBN settled ) ) ) ) ) ) ) )

In many other institutions scientists are shunning contacts with venture investors until the NIH policy is settled


( SINV ( VP ( VBZ Says ) ) ( NP-SBJ ( NP ( NNP Mr. ) ( NNP Daly ) ) ( NP ( DT the ) ( NN venture ) ( NN capitalist ) ) ) ( S-1 ( NP-SBJ ( NP ( PRP It ) ) ) ( VP ( VBZ does ) ( RB n't ) ( VP ( VB matter ) ( SBAR-2 ( IN whether ) ( S ( NP-SBJ ( PRP they ) ) ( VP ( VBP call ) ( S ( NP-SBJ ( PRP it ) ) ( NP-PRD ( NNS guidelines ) ( CC or ) ( NN policy ) ) ) ) ) ) ) ) ) )

Says Mr. Daly the venture capitalist It does n't matter whether they call it guidelines or policy


( S ( NP-SBJ-1 ( DT The ) ( NN damage ) ) ( VP ( VBZ is ) ( ADVP ( RB already ) ) ( VP ( VBN done ) ) ) )

The damage is already done


( S ( NP-SBJ ( NNS Investors ) ) ( VP ( VBD poured ) ( NP ( NP ( QP ( CD 2.8 ) ( CD billion ) ) ) ( ADJP ( RBR more ) ) ) ( PP-CLR ( IN into ) ( NP ( JJ money-market ) ( JJ mutual ) ( NNS funds ) ) ) ( PP-TMP ( IN in ) ( NP ( DT the ) ( JJS latest ) ( NN week ) ) ) ( PP ( IN despite ) ( NP ( NP ( JJ further ) ( NNS declines ) ) ( PP ( IN in ) ( NP ( NNS yields ) ) ) ) ) ) )

Investors poured 2.8 billion more into money-market mutual funds in the latest week despite further declines in yields


( S ( S-TPC-1 ( NP-SBJ ( NP ( NNS Assets ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( CD 400 ) ( JJ taxable ) ( NNS funds ) ) ( VP ( VBN tracked ) ( PP ( IN by ) ( NP-LGS ( NP ( NNP IBC\/Donoghue ) ( POS 's ) ) ( NNP Money ) ( NNP Fund ) ( NNP Report ) ) ) ) ) ) ) ( VP ( VBD jumped ) ( PP-DIR ( TO to ) ( NP ( QP ( CD 351.2 ) ( CD billion ) ) ) ) ( PP-TMP ( IN in ) ( NP ( NP ( DT the ) ( NN week ) ) ( VP ( VBD ended ) ( NP-TMP ( NNP Tuesday ) ) ) ) ) ) ) ( NP-SBJ ( DT the ) ( ADJP ( NNP Holliston ) ( JJ Mass.-based ) ) ( NN newsletter ) ) ( VP ( VBD said ) ) )

Assets of the 400 taxable funds tracked by IBC\/Donoghue 's Money Fund Report jumped to 351.2 billion in the week ended Tuesday the Holliston Mass.-based newsletter said


( S ( NP-SBJ ( NNS Assets ) ) ( VP ( VBD soared ) ( NP-EXT ( QP ( CD 4.5 ) ( CD billion ) ) ) ( PP-TMP ( IN in ) ( NP ( DT the ) ( JJ previous ) ( NN week ) ) ) ) )

Assets soared 4.5 billion in the previous week


( S ( ADVP-TMP ( RB Meanwhile ) ) ( NP-SBJ ( NP ( DT the ) ( JJ average ) ( NN yield ) ) ( PP ( IN on ) ( NP ( JJ taxable ) ( NNS funds ) ) ) ) ( VP ( VP ( VBD dropped ) ( NP-EXT ( NP ( RB nearly ) ( DT a ) ( NN tenth ) ) ( PP ( IN of ) ( NP ( DT a ) ( NN percentage ) ( NN point ) ) ) ) ) ( NP-ADV ( NP ( DT the ) ( JJS largest ) ( NN drop ) ) ( PP-TMP ( IN since ) ( NP ( NN midsummer ) ) ) ) ) )

Meanwhile the average yield on taxable funds dropped nearly a tenth of a percentage point the largest drop since midsummer


( S ( NP-SBJ ( NP ( DT The ) ( JJ average ) ( JJ seven-day ) ( NN compound ) ( NN yield ) ) ( SBAR ( WHNP-2 ( WDT which ) ) ( S ( VP ( VBZ assumes ) ( SBAR ( SBAR ( IN that ) ( S ( NP-SBJ-1 ( NNS dividends ) ) ( VP ( VBP are ) ( VP ( VBN reinvested ) ) ) ) ) ( CC and ) ( SBAR ( IN that ) ( S ( NP-SBJ ( JJ current ) ( NNS rates ) ) ( VP ( VBP continue ) ( PP-TMP-CLR ( IN for ) ( NP ( DT a ) ( NN year ) ) ) ) ) ) ) ) ) ) ) ( VP ( VBD fell ) ( PP-DIR ( TO to ) ( NP ( NP ( CD 8.47 ) ( NN % ) ) ( NP ( NP ( PRP$ its ) ( JJS lowest ) ) ( PP-TMP ( IN since ) ( NP ( JJ late ) ( JJ last ) ( NN year ) ) ) ) ) ) ( PP-DIR ( IN from ) ( NP ( CD 8.55 ) ( NN % ) ) ( NP-TMP ( NP ( DT the ) ( NN week ) ) ( ADVP ( IN before ) ) ) ) ( PP ( VBG according ) ( PP ( TO to ) ( NP ( NNP Donoghue ) ( POS 's ) ) ) ) ) )

The average seven-day compound yield which assumes that dividends are reinvested and that current rates continue for a year fell to 8.47 % its lowest since late last year from 8.55 % the week before according to Donoghue 's


( SINV ( S-TPC-1 ( NP-SBJ ( JJR Lower ) ( NNS yields ) ) ( VP ( VBP are ) ( ADVP ( RB just ) ) ( VP ( VBG reflecting ) ( NP ( JJR lower ) ( JJ short-term ) ( NN interest ) ( NNS rates ) ) ) ) ) ( VP ( VBD said ) ) ( NP-SBJ ( NP ( NNP Brenda ) ( NNP Malizia ) ( NNP Negus ) ) ( NP ( NP ( NN editor ) ) ( PP ( IN of ) ( NP ( NNP Money ) ( NNP Fund ) ( NNP Report ) ) ) ) ) )

Lower yields are just reflecting lower short-term interest rates said Brenda Malizia Negus editor of Money Fund Report


( S ( NP-SBJ ( NNP Money ) ( NNS funds ) ) ( VP ( VBP invest ) ( PP-CLR ( IN in ) ( NP ( NP ( JJ such ) ( NNS things ) ) ( PP ( IN as ) ( NP ( NP ( NP ( JJ short-term ) ( NNP Treasury ) ( NNS securities ) ) ( NP ( JJ commercial ) ( NN paper ) ) ( CC and ) ( NP ( NP ( NNS certificates ) ) ( PP ( IN of ) ( NP ( NN deposit ) ) ) ) ) ( SBAR ( WHNP-1 ( WHNP ( DT all ) ) ( WHPP ( IN of ) ( WHNP ( WDT which ) ) ) ) ( S ( VP ( VBP have ) ( VP ( VBN been ) ( VP ( VBG posting ) ( NP ( JJR lower ) ( NN interest ) ( NNS rates ) ) ( PP-TMP ( IN since ) ( NP ( JJ last ) ( NN spring ) ) ) ) ) ) ) ) ) ) ) ) ) )

Money funds invest in such things as short-term Treasury securities commercial paper and certificates of deposit all of which have been posting lower interest rates since last spring


( S ( NP-SBJ ( JJ Individual ) ( NNS investors ) ) ( VP ( MD can ) ( ADVP ( RB still ) ) ( VP ( VB get ) ( NP ( NP ( JJR better ) ( NNS yields ) ) ( PP ( IN on ) ( NP ( NN money ) ( NNS funds ) ) ) ( PP ( IN than ) ( PP ( IN on ) ( NP ( JJ many ) ( JJ other ) ( JJ short-term ) ( NNS instruments ) ) ) ) ) ) ) )

Individual investors can still get better yields on money funds than on many other short-term instruments


( S ( NP-SBJ ( NP ( DT The ) ( NN yield ) ) ( PP ( IN on ) ( NP ( NP ( JJ six-month ) ( NNP Treasury ) ( NNS bills ) ) ( VP ( VBN sold ) ( PP-LOC ( IN at ) ( NP ( NP ( NNP Monday ) ( POS 's ) ) ( NN auction ) ) ) ) ) ) ) ( PP ( IN for ) ( NP ( NN example ) ) ) ( VP ( VBD was ) ( NP-PRD ( QP ( RB just ) ( CD 7.77 ) ) ( NN % ) ) ) )

The yield on six-month Treasury bills sold at Monday 's auction for example was just 7.77 %


( S ( NP-SBJ ( NP ( DT The ) ( JJ average ) ( NN yield ) ) ( PP ( IN on ) ( NP ( NP ( JJ six-month ) ( NNS CDs ) ) ( PP ( IN of ) ( NP ( QP ( CD 50,000 ) ( CC or ) ( JJR less ) ) ) ) ) ) ( PP-LOC ( IN at ) ( NP ( JJ major ) ( NNS banks ) ) ) ) ( VP ( VBD was ) ( NP-PRD ( CD 7.96 ) ( NN % ) ) ( PP-TMP ( IN in ) ( NP ( NP ( DT the ) ( NN week ) ) ( VP ( VBD ended ) ( NP-TMP ( NNP Tuesday ) ) ) ) ) ( PP ( VBG according ) ( PP ( TO to ) ( NP ( NP ( NNP Banxquote ) ( NNP Money ) ( NNPS Markets ) ) ( NP ( DT a ) ( NNP New ) ( NNP York ) ( NN information ) ( NN service ) ) ) ) ) ) )

The average yield on six-month CDs of 50,000 or less at major banks was 7.96 % in the week ended Tuesday according to Banxquote Money Markets a New York information service


( S ( NP-SBJ ( NP ( CD One ) ( NN way ) ) ( SBAR ( WHADVP-1 ( IN that ) ) ( S ( NP-SBJ ( NN money ) ( NN fund ) ( NNS managers ) ) ( VP ( VBP boost ) ( NP ( NNS yields ) ) ( PP-LOC ( IN in ) ( NP ( DT a ) ( VBG declining ) ( NN rate ) ( NN environment ) ) ) ) ) ) ) ( VP ( VBZ is ) ( PP-PRD ( IN by ) ( S-NOM ( VP ( VBG extending ) ( NP ( NP ( DT the ) ( NNS maturities ) ) ( PP ( IN of ) ( NP ( PRP$ their ) ( NNS investments ) ) ) ) ( SBAR-PRP ( IN so ) ( S ( NP-SBJ ( PRP they ) ) ( VP ( MD can ) ( VP ( VB earn ) ( NP ( DT the ) ( JJ current ) ( JJR higher ) ( NNS rates ) ) ( PP-TMP ( IN for ) ( NP ( DT a ) ( JJR longer ) ( NN period ) ) ) ) ) ) ) ) ) ) ) )

One way that money fund managers boost yields in a declining rate environment is by extending the maturities of their investments so they can earn the current higher rates for a longer period


( S ( NP-SBJ ( NP ( DT The ) ( JJ average ) ( NN maturity ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( JJ taxable ) ( NNS funds ) ) ( SBAR ( WHNP-1 ( DT that ) ) ( S ( NP-SBJ ( NNP Donoghue ) ( POS 's ) ) ( VP ( VBZ follows ) ) ) ) ) ) ) ( VP ( VBN increased ) ( PP-EXT ( IN by ) ( NP ( CD two ) ( NNS days ) ) ) ( PP-TMP ( IN in ) ( NP ( DT the ) ( JJS latest ) ( NN week ) ) ) ( PP-DIR ( TO to ) ( NP ( NP ( CD 40 ) ( NNS days ) ) ( NP ( NP ( PRP$ its ) ( JJS longest ) ) ( PP-TMP ( IN since ) ( NP ( NNP August ) ) ) ) ) ) ) )

The average maturity of the taxable funds that Donoghue 's follows increased by two days in the latest week to 40 days its longest since August


( SINV ( S-TPC-1 ( S ( NP-SBJ ( PRP They ) ) ( VP ( VBP 're ) ( VP ( VBG anticipating ) ( NP ( NP ( JJ further ) ( NNS declines ) ) ( PP ( IN in ) ( NP ( NNS rates ) ) ) ) ) ) ) ( CC and ) ( S ( NP-SBJ-2 ( PRP they ) ) ( VP ( VBP 're ) ( VP ( VBG going ) ( S ( VP ( TO to ) ( VP ( VB get ) ( NP ( PRP them ) ) ( ADVP-MNR ( RB slowly ) ) ) ) ) ) ) ) ) ( VP ( VBD said ) ) ( NP-SBJ ( NP ( NNP Walter ) ( NNP Frank ) ) ( NP ( NP ( NN chief ) ( NN economist ) ) ( PP ( IN for ) ( NP ( NP ( DT the ) ( NNP Donoghue ) ( NNP Organization ) ) ( NP ( NP ( NN publisher ) ) ( PP ( IN of ) ( NP ( NNP Money ) ( NNP Fund ) ( NNP Report ) ) ) ) ) ) ) ) )

They 're anticipating further declines in rates and they 're going to get them slowly said Walter Frank chief economist for the Donoghue Organization publisher of Money Fund Report


( S ( NP-SBJ ( JJ Average ) ( NN maturity ) ) ( VP ( VBD was ) ( ADJP-PRD ( ADJP ( RB as ) ( JJ short ) ) ( PP ( IN as ) ( NP ( CD 29 ) ( NNS days ) ) ) ) ( PP-TMP ( IN at ) ( NP ( NP ( DT the ) ( NN start ) ) ( PP ( IN of ) ( NP ( NP ( DT this ) ( NN year ) ) ( SBAR ( WHADVP-1 ( WRB when ) ) ( S ( NP-SBJ ( JJ short-term ) ( NN interest ) ( NNS rates ) ) ( VP ( VBD were ) ( VP ( VBG moving ) ( ADVP-MNR ( RB steadily ) ) ( ADVP-DIR ( RB upward ) ) ) ) ) ) ) ) ) ) ) )

Average maturity was as short as 29 days at the start of this year when short-term interest rates were moving steadily upward


( S ( NP-SBJ ( NP ( DT The ) ( JJ average ) ( JJ seven-day ) ( NN compound ) ( NN yield ) ) ( PP ( IN of ) ( NP ( DT the ) ( NNS funds ) ) ) ) ( VP ( VBD reached ) ( NP ( CD 9.62 ) ( NN % ) ) ( PP-TMP ( IN in ) ( NP ( JJ late ) ( NNP April ) ) ) ) )

The average seven-day compound yield of the funds reached 9.62 % in late April


( S ( NP-SBJ ( DT The ) ( JJ highest-yielding ) ( NNS funds ) ) ( VP ( VBP are ) ( ADVP ( RB still ) ) ( PP-PRD ( IN above ) ( NP ( CD 9 ) ( NN % ) ) ) ) )

The highest-yielding funds are still above 9 %


( S ( NP-SBJ ( NP ( DT The ) ( JJ top-performing ) ( NN fund ) ) ( PP-TMP ( IN in ) ( NP ( DT the ) ( JJS latest ) ( NN week ) ) ) ) ( VP ( VBD was ) ( NP-PRD ( NNP Dreyfus ) ( NNP Worldwide ) ( NNP Dollar ) ) ( PP ( IN with ) ( NP ( NP ( DT a ) ( JJ seven-day ) ( NN compound ) ( NN yield ) ) ( PP ( IN of ) ( NP ( CD 9.45 ) ( NN % ) ) ) ) ) ) )

The top-performing fund in the latest week was Dreyfus Worldwide Dollar with a seven-day compound yield of 9.45 %


( S ( NP-SBJ ( DT The ) ( NN fund ) ) ( VP ( VBZ invests ) ( ADVP ( RB heavily ) ) ( PP-CLR ( IN in ) ( NP ( NP ( JJ dollar-denominated ) ( JJ money-market ) ( NNS securities ) ) ( ADVP-LOC ( RB overseas ) ) ) ) ) )

The fund invests heavily in dollar-denominated money-market securities overseas


( S ( NP-SBJ ( PRP It ) ) ( VP ( VBZ is ) ( ADVP-TMP ( RB currently ) ) ( VP ( VP ( VBG waiving ) ( NP ( NN management ) ( NNS fees ) ) ) ( SBAR-ADV ( WHNP-1 ( WDT which ) ) ( S ( VP ( VBZ contributes ) ( PP-CLR ( TO to ) ( NP ( DT the ) ( JJR higher ) ( NN yield ) ) ) ) ) ) ) ) )

It is currently waiving management fees which contributes to the higher yield


( S ( S-TPC-1 ( NP-SBJ ( NP ( DT The ) ( JJ average ) ( JJ seven-day ) ( JJ simple ) ( NN yield ) ) ( PP ( IN of ) ( NP ( DT the ) ( CD 400 ) ( NNS funds ) ) ) ) ( VP ( VBD fell ) ( PP-DIR ( TO to ) ( NP ( CD 8.14 ) ( NN % ) ) ) ( PP-DIR ( IN from ) ( NP ( CD 8.21 ) ( NN % ) ) ) ) ) ( NP-SBJ ( NNP Donoghue ) ( POS 's ) ) ( VP ( VBD reported ) ) )

The average seven-day simple yield of the 400 funds fell to 8.14 % from 8.21 % Donoghue 's reported


( S ( S ( NP-SBJ ( DT The ) ( JJ average ) ( JJ 30-day ) ( JJ simple ) ( NN yield ) ) ( VP ( VBD slid ) ( PP-DIR ( TO to ) ( NP ( CD 8.22 ) ( NN % ) ) ) ( PP-DIR ( IN from ) ( NP ( CD 8.26 ) ( NN % ) ) ) ) ) ( CC and ) ( S ( NP-SBJ ( DT the ) ( JJ average ) ( JJ 30-day ) ( NN compound ) ( NN yield ) ) ( VP ( VBD fell ) ( PP-DIR ( TO to ) ( NP ( CD 8.56 ) ( NN % ) ) ) ( PP-DIR ( IN from ) ( NP ( CD 8.60 ) ( NN % ) ) ) ) ) )

The average 30-day simple yield slid to 8.22 % from 8.26 % and the average 30-day compound yield fell to 8.56 % from 8.60 %


( S ( NP-SBJ-1 ( NP ( NNP Merksamer ) ( NNPS Jewelers ) ( NNP Inc. ) ) ( NP ( DT a ) ( JJ fast-growing ) ( NN jewelry ) ( NN store ) ( NN chain ) ) ) ( VP ( VBN filed ) ( PP-CLR ( IN for ) ( NP ( NP ( NN Chapter ) ( CD 11 ) ( NN bankruptcy-law ) ( NN protection ) ) ( PP ( IN from ) ( NP ( NNS creditors ) ) ) ) ) ( S-PRP ( ADVP ( RB apparently ) ) ( VP ( TO to ) ( VP ( VB speed ) ( NP ( NP ( DT a ) ( NN management ) ( JJ buy-out ) ) ( PP ( IN of ) ( NP ( DT the ) ( NN chain ) ) ) ) ) ) ) ) )

Merksamer Jewelers Inc. a fast-growing jewelry store chain filed for Chapter 11 bankruptcy-law protection from creditors apparently to speed a management buy-out of the chain


( S ( NP-SBJ ( NP ( DT The ) ( NN filing ) ) ( VP ( VBN made ) ( NP-TMP ( NN yesterday ) ) ( PP-LOC ( IN in ) ( NP ( NP ( NNP U.S. ) ( NNP Bankruptcy ) ( NNP Court ) ) ( ADVP-LOC ( RB here ) ) ) ) ) ) ( VP ( VBZ follows ) ( NP ( NP ( DT an ) ( NN agreement ) ) ( PP ( IN by ) ( NP ( NP ( NNP L.J. ) ( NNP Hooker ) ( NNP Corp. ) ) ( NP ( NP ( NNP Merksamer ) ( POS 's ) ) ( NN owner ) ) ) ) ( S-1 ( VP ( TO to ) ( VP ( VB sell ) ( NP ( DT the ) ( NN chain ) ) ( PP-DTV ( TO to ) ( NP ( NN management ) ) ) ( PP-CLR ( IN for ) ( NP ( DT an ) ( JJ undisclosed ) ( NN price ) ) ) ) ) ) ) ) )

The filing made yesterday in U.S. Bankruptcy Court here follows an agreement by L.J. Hooker Corp. Merksamer 's owner to sell the chain to management for an undisclosed price


( S ( NP-SBJ ( NP ( NNP GE ) ( NNP Capital ) ( NNP Corp. ) ) ( NP ( NP ( DT a ) ( JJ financial ) ( NNS services ) ( JJ subsidiary ) ) ( PP ( IN of ) ( NP ( NNP General ) ( NNP Electric ) ( NNP Co. ) ) ) ) ) ( VP ( VBZ is ) ( VP ( VBG providing ) ( NP ( NNP Merksamer ) ( NN management ) ) ( PP-CLR ( IN with ) ( NP ( NP ( QP ( CD 15 ) ( CD million ) ) ) ( PP ( IN in ) ( NP ( NN financing ) ) ) ) ) ) ) )

GE Capital Corp. a financial services subsidiary of General Electric Co. is providing Merksamer management with 15 million in financing


( S ( NP-SBJ ( NP ( NNP L.J. ) ( NNP Hooker ) ) ( VP ( VBN based ) ( PP-LOC-CLR ( IN in ) ( NP ( NNP Atlanta ) ) ) ) ) ( VP ( VP ( VBN filed ) ( PP-CLR ( IN for ) ( NP ( NN Chapter ) ( CD 11 ) ( NN protection ) ) ) ( PP-TMP ( IN in ) ( NP ( NNP August ) ) ) ) ( CC and ) ( VP ( VBZ has ) ( ADVP ( RB also ) ) ( VP ( VBN announced ) ( NP ( PRP$ its ) ( NN intention ) ( S ( VP ( TO to ) ( VP ( VB sell ) ( NP ( PRP$ its ) ( NNP B. ) ( NNP Altman ) ( CC & ) ( NNP Co. ) ( NN department ) ( NN store ) ( NN chain ) ) ) ) ) ) ) ) ) )

L.J. Hooker based in Atlanta filed for Chapter 11 protection in August and has also announced its intention to sell its B. Altman & Co. department store chain


( S ( NP-SBJ-1 ( NNP L.J. ) ( NNP Hooker ) ) ( VP ( VBZ is ) ( VP ( VBN owned ) ( PP-LGS ( IN by ) ( NP ( NP ( NNP Hooker ) ( NNP Corp. ) ) ( NP-LOC ( NP ( NNP Sydney ) ) ( NP ( NNP Australia ) ) ) ( SBAR ( WHNP-3 ( WHNP ( WDT which ) ) ( NP ( PRP itself ) ) ) ( S ( VP ( VBZ is ) ( ADVP-TMP ( RB currently ) ) ( VP ( VBG being ) ( VP ( VBN managed ) ( PP ( IN by ) ( NP-LGS ( DT a ) ( JJ court-appointed ) ( JJ provisional ) ( NN liquidator ) ) ) ) ) ) ) ) ) ) ) ) )

L.J. Hooker is owned by Hooker Corp. Sydney Australia which itself is currently being managed by a court-appointed provisional liquidator


( S ( NP-SBJ ( NP ( NP ( NNP L.J. ) ( NNP Hooker ) ( POS 's ) ) ( VBN planned ) ( NN sale ) ) ( PP ( IN of ) ( NP ( NNP Merksamer ) ) ) ) ( VP ( VBZ is ) ( ADJP-PRD ( JJ subject ) ( PP ( TO to ) ( NP ( NP ( NN approval ) ) ( PP ( IN by ) ( NP ( NP ( NNP Judge ) ( NNP Tina ) ( NNP Brozman ) ) ( PP ( IN of ) ( NP ( NNP U.S. ) ( NNP Bankruptcy ) ( NNP Court ) ) ) ) ) ) ) ) ) )

L.J. Hooker 's planned sale of Merksamer is subject to approval by Judge Tina Brozman of U.S. Bankruptcy Court


( S ( NP-SBJ ( NP ( NNS Rumors ) ) ( PP ( TO to ) ( NP ( DT the ) ( NN effect ) ( SBAR ( IN that ) ( S ( NP-SBJ ( DT the ) ( NNP Merksamer ) ( NN chain ) ) ( VP ( MD would ) ( VP ( VB file ) ( PP-CLR ( IN for ) ( NP ( NN Chapter ) ( CD 11 ) ) ) ) ) ) ) ) ) ) ( VP ( VBD arose ) ( NP-TMP ( JJ last ) ( NN week ) ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( NN jewelry ) ( NN industry ) ) ) ) )

Rumors to the effect that the Merksamer chain would file for Chapter 11 arose last week in the jewelry industry


( S ( PP-TMP ( IN At ) ( NP ( DT that ) ( NN time ) ) ) ( NP-SBJ ( NP ( NNP Sam ) ( NNP Merksamer ) ) ( NP ( NP ( NN president ) ) ( PP ( IN of ) ( NP ( DT the ) ( NN chain ) ) ) ) ) ( VP ( ADVP-MNR ( RB angrily ) ) ( VBD denied ) ( SBAR ( IN that ) ( S ( NP-SBJ-1 ( PRP$ his ) ( NN company ) ) ( VP ( VBD was ) ( VP ( IN about ) ( S ( VP ( TO to ) ( VP ( VB file ) ) ) ) ) ) ) ) ) )

At that time Sam Merksamer president of the chain angrily denied that his company was about to file


( S ( NP-SBJ ( NNP Mr. ) ( NNP Merksamer ) ) ( VP ( VBZ is ) ( VP ( VBG leading ) ( NP ( DT the ) ( JJ buy-out ) ) ) ) )

Mr. Merksamer is leading the buy-out


( S ( PP ( VBG According ) ( PP ( TO to ) ( NP ( NP ( NNS executives ) ) ( ADJP ( RB close ) ( PP ( TO to ) ( NP ( DT the ) ( NN situation ) ) ) ) ) ) ) ( NP-SBJ-1 ( NNP Merksamer ) ) ( VP ( VBD filed ) ( PP-CLR ( IN for ) ( NP ( NN Chapter ) ( CD 11 ) ) ) ( S-PRP ( VP ( TO to ) ( VP ( VB speed ) ( NP ( NP ( DT the ) ( NN sale ) ) ( PP ( IN of ) ( NP ( DT the ) ( NN chain ) ) ) ) ) ) ) ) )

According to executives close to the situation Merksamer filed for Chapter 11 to speed the sale of the chain


( S ( NP-SBJ ( CD One ) ( NN executive ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( NP ( DT an ) ( NN accord ) ) ( VP ( VBN signed ) ( PP ( IN by ) ( NP-LGS ( NP ( DT the ) ( JJ unsecured ) ( NNS creditors ) ) ( PP ( IN of ) ( NP ( NNP L.J. ) ( NNP Hooker ) ( NNP Corp. ) ) ) ) ) ) ) ( VP ( VBD had ) ( VP ( VBN frozen ) ( PP-LOC-CLR ( IN in ) ( NP ( NN place ) ) ) ( NP ( NP ( DT all ) ) ( PP ( IN of ) ( NP ( NP ( NNP L.J. ) ( NNP Hooker ) ( POS 's ) ) ( NNS assets ) ) ) ) ) ) ) ) ) )

One executive said an accord signed by the unsecured creditors of L.J. Hooker Corp. had frozen in place all of L.J. Hooker 's assets


( S ( NP-SBJ-1 ( DT The ) ( NNP Merksamer ) ( NN bankruptcy-law ) ( NN filing ) ) ( VP ( VBZ appears ) ( S ( VP ( TO to ) ( VP ( VB supersede ) ( NP ( DT that ) ( NN agreement ) ) ) ) ) ) )

The Merksamer bankruptcy-law filing appears to supersede that agreement


( SINV ( S-TPC-1 ( PP-MNR ( IN By ) ( S-NOM ( VP ( VBG filing ) ( PP-CLR ( IN for ) ( NP ( NN Chapter ) ( CD 11 ) ) ) ) ) ) ( NP-SBJ-3 ( DT the ) ( NNP Merksamer ) ( NN chain ) ) ( VP ( MD will ) ( ADVP ( RB only ) ) ( VP ( VB need ) ( NP ( NP ( NN approval ) ) ( PP ( IN from ) ( NP ( DT a ) ( NN bankruptcy ) ( NN judge ) ) ) ( PP ( IN for ) ( NP ( DT the ) ( NN sale ) ) ) ) ( PRN ( RB not ) ( NP ( NP ( DT the ) ( NNS hundreds ) ) ( PP ( IN of ) ( NP ( JJ unsecured ) ( NNS creditors ) ) ) ) ) ) ) ) ( VP ( VBD said ) ) ( NP-SBJ ( DT this ) ( NN executive ) ) )

By filing for Chapter 11 the Merksamer chain will only need approval from a bankruptcy judge for the sale not the hundreds of unsecured creditors said this executive


( S ( S ( NP-SBJ ( NP ( DT The ) ( NN cash ) ) ( PP ( IN from ) ( NP ( DT the ) ( NN sale ) ) ) ) ( VP ( MD will ) ( VP ( VB go ) ( PP-CLR ( TO to ) ( NP ( NNP L.J. ) ( NNP Hooker ) ) ) ) ) ) ( CC but ) ( S ( NP-SBJ ( NP ( DT the ) ( NN company ) ) ( NP ( PRP itself ) ) ) ( VP ( MD will ) ( VP ( VB belong ) ( PP-CLR ( TO to ) ( NP ( NNP Sam ) ( NNP Merksamer ) ) ) ) ) ) )

The cash from the sale will go to L.J. Hooker but the company itself will belong to Sam Merksamer


( S ( NP-SBJ ( NP ( NNP Mr. ) ( NNP Merksamer ) ) ( CC and ) ( NP ( NP ( NNP Sanford ) ( NNP Sigoloff ) ) ( NP ( NP ( NN chief ) ( NN executive ) ) ( PP ( IN of ) ( NP ( NNP L.J. ) ( NNP Hooker ) ) ) ) ) ) ( VP ( VBD were ) ( ADJP-PRD ( JJ unavailable ) ( PP ( IN for ) ( NP ( NN comment ) ) ) ) ) )

Mr. Merksamer and Sanford Sigoloff chief executive of L.J. Hooker were unavailable for comment


( S ( PP-LOC ( IN In ) ( NP ( DT a ) ( NN statement ) ) ) ( NP-SBJ ( NNP Mr. ) ( NNP Merksamer ) ) ( VP ( VP ( VBD described ) ( NP ( DT the ) ( NN filing ) ) ( PP-CLR ( IN as ) ( NP ( DT a ) ( JJ legal ) ( NN technicality ) ) ) ) ( CC but ) ( ADVP ( RB also ) ) ( VP ( VBD said ) ( SBAR ( IN that ) ( S ( NP-SBJ-1 ( PRP$ our ) ( NN inability ) ( S ( VP ( TO to ) ( VP ( VB obtain ) ( NP ( NN trade ) ( NN credit ) ) ) ) ) ) ( S-ADV ( VP ( VBN combined ) ( PP-CLR ( IN with ) ( NP ( DT a ) ( NN need ) ( S ( VP ( TO to ) ( VP ( VB ensure ) ( SBAR ( IN that ) ( S ( NP-SBJ ( PRP$ our ) ( NNS stores ) ) ( VP ( VBD were ) ( VP ( ADVP-MNR ( RB properly ) ) ( VBN stocked ) ( PP-CLR ( IN for ) ( NP ( DT the ) ( NNP Christmas ) ( NN season ) ) ) ) ) ) ) ) ) ) ) ) ) ) ( VP ( VBD necessitated ) ( S ( NP-SBJ ( PRP$ our ) ) ( VP ( VBG filing ) ( NP ( NN Chapter ) ( CD 11 ) ) ) ) ) ) ) ) ) )

In a statement Mr. Merksamer described the filing as a legal technicality but also said that our inability to obtain trade credit combined with a need to ensure that our stores were properly stocked for the Christmas season necessitated our filing Chapter 11


( S ( NP-SBJ ( NP ( DT The ) ( NN jewelry ) ( NN chain ) ) ( SBAR ( WHNP-2 ( WDT which ) ) ( S ( VP ( VBZ is ) ( VP ( VBN based ) ( PP-LOC-CLR ( IN in ) ( NP ( NP ( NNP Sacramento ) ) ( NP ( NNP Calif. ) ) ) ) ) ) ) ) ) ( VP ( VBD had ) ( NP ( NP ( NP ( NN revenue ) ) ( PP ( IN of ) ( NP ( QP ( CD 62 ) ( CD million ) ) ) ) ) ( CC and ) ( NP ( NP ( VBG operating ) ( NN profit ) ) ( PP ( IN of ) ( NP ( QP ( CD 2.5 ) ( CD million ) ) ) ) ) ) ( PP-TMP ( IN for ) ( NP ( NP ( DT the ) ( NN year ) ) ( VP ( VBD ended ) ( NP-TMP-CLR ( NNP June ) ( CD 30 ) ) ) ) ) ) )

The jewelry chain which is based in Sacramento Calif. had revenue of 62 million and operating profit of 2.5 million for the year ended June 30


( S ( NP-SBJ ( NNP Adolph ) ( NNP Coors ) ( NNP Co. ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( PRP$ its ) ( NNP Coors ) ( NNP Brewing ) ( NNP Co. ) ( NN unit ) ) ( VP ( MD will ) ( VP ( VB test ) ( VB market ) ( NP ( NP ( DT a ) ( JJ new ) ( NN line ) ) ( PP ( IN of ) ( NP ( JJ bottled ) ( NN water ) ) ) ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( NN West ) ) ) ( PP-TMP ( VBG beginning ) ( NP ( JJ early ) ( JJ next ) ( NN year ) ) ) ) ) ) ) ) )

Adolph Coors Co. said its Coors Brewing Co. unit will test market a new line of bottled water in the West beginning early next year


( S ( NP-SBJ ( NP ( DT The ) ( NN move ) ) ( SBAR ( WHNP-2 ( WDT which ) ) ( S ( VP ( VBD was ) ( VP ( VBN expected ) ) ) ) ) ) ( VP ( VP ( VBZ marks ) ( NP ( NP ( DT the ) ( JJ first ) ( NN time ) ) ( PP-TMP ( IN since ) ( NP ( NNP Prohibition ) ) ) ( SBAR ( WHADVP-4 ( IN that ) ) ( S ( NP-SBJ ( NNP Coors ) ) ( VP ( VBZ has ) ( VP ( VBN sold ) ( NP ( DT a ) ( JJ non-alcoholic ) ( NN beverage ) ) ) ) ) ) ) ) ( CC and ) ( VP ( VBZ marks ) ( NP ( NP ( NP ( DT the ) ( NN company ) ( POS 's ) ) ( NN entry ) ) ( PP ( IN into ) ( NP ( NP ( DT a ) ( ADJP ( VBN crowded ) ( CC but ) ( JJ fast-growing ) ) ( NN market ) ) ( SBAR ( WHNP-3 ( IN that ) ) ( S ( VP ( VBN generated ) ( NP ( NP ( QP ( IN about ) ( CD 2.2 ) ( CD billion ) ) ) ( PP ( IN in ) ( NP ( NNS sales ) ) ) ) ( NP-TMP ( JJ last ) ( NN year ) ) ) ) ) ) ) ) ) ) )

The move which was expected marks the first time since Prohibition that Coors has sold a non-alcoholic beverage and marks the company 's entry into a crowded but fast-growing market that generated about 2.2 billion in sales last year


( S ( NP-SBJ-1 ( NNP Coors ) ) ( VP ( VBZ is ) ( VP ( VBG hoping ) ( S ( VP ( TO to ) ( VP ( VB become ) ( S ( NP-SBJ ( NP ( CD one ) ) ( PP ( IN of ) ( NP ( DT the ) ( JJ first ) ( NNS companies ) ) ) ) ( VP ( TO to ) ( VP ( VB distribute ) ( NP ( JJ bottled ) ( NN water ) ) ( ADVP-LOC ( JJ nationwide ) ) ) ) ) ) ) ) ) ) )

Coors is hoping to become one of the first companies to distribute bottled water nationwide


( S ( NP-SBJ ( NP ( NP ( NNP Perrier ) ) ( VP ( VBN sold ) ( PP ( IN by ) ( NP-LGS ( NP ( NP ( NNP Perrier ) ( NNP Group ) ) ( PP ( IN of ) ( NP ( NNP America ) ) ) ) ( NP ( NP ( DT a ) ( NN unit ) ) ( PP ( IN of ) ( NP ( NP ( NNP Source ) ( NNP Perrier ) ( NNP S.A. ) ) ( PP ( IN of ) ( NP ( NNP Paris ) ) ) ) ) ) ) ) ) ) ( CC and ) ( NP ( NP ( NNP Evian ) ) ( VP ( VBN sold ) ( PP ( IN by ) ( NP-LGS ( NP ( DT a ) ( NNP U.S. ) ( NN unit ) ) ( NP ( NP ( NNP BSN ) ) ( PP ( IN of ) ( NP ( NNP France ) ) ) ) ) ) ) ) ) ( VP ( VP ( VBP are ) ( VP ( VBN distributed ) ( PP-DIR ( TO to ) ( NP ( JJ urban ) ( NNS areas ) ) ) ( ADVP-LOC ( RB nationally ) ) ) ) ( CC but ) ( VP ( VBP are ) ( ADJP-PRD ( RBR less ) ( JJ available ) ) ( PP-LOC ( IN in ) ( NP ( JJ rural ) ( NNS communities ) ) ) ) ) )

Perrier sold by Perrier Group of America a unit of Source Perrier S.A. of Paris and Evian sold by a U.S. unit BSN of France are distributed to urban areas nationally but are less available in rural communities


( S ( NP-SBJ ( NP ( NNP Coors ) ) ( PP ( IN with ) ( NP ( PRP$ its ) ( JJ large ) ( NN beer-distribution ) ( NN network ) ) ) ) ( VP ( MD could ) ( VP ( VB penetrate ) ( NP ( JJR more ) ( NNS markets ) ) ) ) )

Coors with its large beer-distribution network could penetrate more markets


( S ( NP-SBJ ( DT The ) ( NN company ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( DT the ) ( NN water ) ) ( VP ( VP ( MD will ) ( VP ( VB be ) ( VP ( VBN called ) ( S ( NP-PRD ( NNP Coors ) ( NNP Rocky ) ( NNP Mountain ) ( NNP Sparkling ) ( NNP Water ) ) ) ) ) ) ( CC and ) ( VP ( MD will ) ( VP ( VB come ) ( PP-CLR ( IN from ) ( NP ( NP ( DT the ) ( JJ same ) ( NN mountain ) ( NN spring ) ) ( PP ( IN as ) ( NP ( NP ( NN water ) ) ( VP ( VBN used ) ( PP-LOC-CLR ( IN in ) ( NP ( NNP Coors ) ( NN beer ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

The company said the water will be called Coors Rocky Mountain Sparkling Water and will come from the same mountain spring as water used in Coors beer


( S ( NP-SBJ ( DT The ) ( NN company ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( PRP it ) ) ( VP ( VP ( MD will ) ( VP ( VB sell ) ( NP-1 ( DT the ) ( NN water ) ) ( S-ADV ( UCP-PRD ( ADJP ( NN plain ) ) ( CC and ) ( PP ( IN with ) ( NP ( JJ lemon-lime ) ( CC and ) ( JJ cherry ) ( NNS flavors ) ) ) ) ) ) ) ( CC and ) ( VP ( MD will ) ( VP ( VB package ) ( NP ( PRP it ) ) ( PP-LOC-CLR ( IN in ) ( NP ( NP ( JJ 28-ounce ) ( NNS bottles ) ) ( CC and ) ( NP ( NP ( CD 6.5 ) ( NN ounce ) ( NNS bottles ) ) ( PP ( IN as ) ( NP ( NP ( NN part ) ) ( PP ( IN of ) ( NP ( NNS six-packs ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

The company said it will sell the water plain and with lemon-lime and cherry flavors and will package it in 28-ounce bottles and 6.5 ounce bottles as part of six-packs


( S ( NP-SBJ-1 ( DT The ) ( NN test ) ( NNS markets ) ) ( SBAR-ADV ( IN though ) ( S ( RB not ) ( VP ( VBN specified ) ) ) ) ( VP ( MD will ) ( VP ( VB be ) ( PP-LOC-PRD ( IN in ) ( NP ( NP ( NP ( JJ northern ) ( NNP California ) ) ( NP ( NNP Arizona ) ) ( CC and ) ( NP ( NNP Colorado ) ) ) ( NP ( NP ( DT some ) ) ( PP ( IN of ) ( NP ( DT the ) ( JJS hottest ) ( NN bottled-water ) ( NNS markets ) ) ) ) ) ) ) ) )

The test markets though not specified will be in northern California Arizona and Colorado some of the hottest bottled-water markets


( S ( PP-LOC ( IN In ) ( NP ( NP ( DT a ) ( JJ rare ) ( NN package ) ( NN sale ) ) ( PP ( IN of ) ( NP ( PRP$ its ) ( JJ real ) ( NN estate ) ) ) ) ) ( NP-SBJ ( NP ( NNP K ) ( NNP mart ) ( NNP Corp. ) ) ( NP-LOC ( NP ( NNP Troy ) ) ( NP ( NNP Mich. ) ) ) ) ( VP ( VBZ has ) ( VP ( VBN sold ) ( NP ( NP ( CD 17 ) ) ( PP ( IN of ) ( NP ( PRP$ its ) ( NN strip ) ( NN shopping ) ( NNS centers ) ) ) ) ( PP-DTV ( TO to ) ( NP ( NP ( DT a ) ( VBN limited ) ( NN partnership ) ) ( VP ( VBN led ) ( PP ( IN by ) ( NP-LGS ( NNP New ) ( NNP York ) ( NN developer ) ( NNP Philip ) ( NNP Pilevsky ) ) ) ) ) ) ( PP ( VBG according ) ( PP ( TO to ) ( NP ( NP ( NNS sources ) ) ( ADJP ( JJ familiar ) ( PP ( IN with ) ( NP ( DT the ) ( NN transaction ) ) ) ) ) ) ) ) ) )

In a rare package sale of its real estate K mart Corp. Troy Mich. has sold 17 of its strip shopping centers to a limited partnership led by New York developer Philip Pilevsky according to sources familiar with the transaction


( S ( NP-SBJ ( PRP They ) ) ( VP ( VBP estimate ) ( NP ( NP ( DT the ) ( NN value ) ) ( PP ( IN of ) ( NP ( DT the ) ( NN transaction ) ) ) ) ( PP-CLR ( IN at ) ( NP ( QP ( NN close ) ( TO to ) ( CD 100 ) ( CD million ) ) ) ) ) )

They estimate the value of the transaction at close to 100 million


( S ( NP-SBJ ( NP ( NNP K ) ( NNP mart ) ( NNS officials ) ) ( CC and ) ( NP ( NNP Mr. ) ( NNP Pilevsky ) ) ) ( VP ( MD would ) ( RB n't ) ( VP ( VB comment ) ( PP-CLR ( IN on ) ( NP ( DT the ) ( NN sale ) ) ) ) ) )

K mart officials and Mr. Pilevsky would n't comment on the sale


( S ( NP-SBJ ( NNP K ) ( NNP mart ) ) ( ADVP-TMP ( RB previously ) ) ( VP ( VBD had ) ( VP ( VBN announced ) ( SBAR ( S ( NP-SBJ ( PRP it ) ) ( VP ( MD would ) ( VP ( VB report ) ( NP ( NP ( PRP$ its ) ( JJ third ) ( JJ consecutive ) ( NN decline ) ) ( PP ( IN in ) ( NP ( JJ quarterly ) ( NNS earnings ) ) ) ( PP ( IN for ) ( NP ( NP ( DT the ) ( NN period ) ) ( VP ( VBD ended ) ( NP-TMP ( NP ( NN yesterday ) ) ( NP ( NP ( DT the ) ( JJ same ) ( NN day ) ) ( SBAR ( S ( NP-SBJ-1 ( DT the ) ( JJ real ) ( NN estate ) ( NN deal ) ) ( VP ( VBD was ) ( VP ( VBN completed ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

K mart previously had announced it would report its third consecutive decline in quarterly earnings for the period ended yesterday the same day the real estate deal was completed


( S ( NP-SBJ ( NNS Analysts ) ) ( VP ( VBP are ) ( VP ( VBG estimating ) ( SBAR ( S ( NP-SBJ ( JJ third-quarter ) ( NNS earnings ) ) ( VP ( MD will ) ( VP ( VB drop ) ( NP-EXT ( QP ( IN between ) ( CD 13 ) ( NN % ) ( CC and ) ( CD 20 ) ( NN % ) ) ) ( PP-DIR ( TO to ) ( NP ( NP ( QP ( IN about ) ( CD 50 ) ( TO to ) ( CD 55 ) ) ( NNS cents ) ) ( PP ( IN per ) ( NP ( NN share ) ) ) ( PP ( VBN compared ) ( PP ( IN with ) ( NP ( NP ( CD 63 ) ( NNS cents ) ) ( PP ( IN per ) ( NP ( NN share ) ) ) ( PP-TMP ( IN in ) ( NP ( DT the ) ( JJ year-ago ) ( NN quarter ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Analysts are estimating third-quarter earnings will drop between 13 % and 20 % to about 50 to 55 cents per share compared with 63 cents per share in the year-ago quarter


( S ( NP-SBJ ( NP ( PRP It ) ) ) ( VP ( VBZ is ) ( ADJP-PRD ( JJ unclear ) ) ( SBAR-1 ( WHNP-2 ( WDT what ) ( NN effect ) ) ( S ( NP-SBJ ( NP ( DT the ) ( NN sale ) ) ( PP ( IN of ) ( NP ( DT the ) ( NN shopping ) ( NNS centers ) ) ) ) ( VP ( MD will ) ( VP ( VB have ) ( PP-CLR ( IN on ) ( NP ( NNS earnings ) ) ) ) ) ) ) ) )

It is unclear what effect the sale of the shopping centers will have on earnings


( S ( NP-SBJ ( NNP K ) ( NNP mart ) ) ( VP ( VBD developed ) ( NP ( NP ( DT the ) ( NNS centers ) ) ( SBAR ( WHNP-1 ( WDT which ) ) ( S ( VP ( VBP range ) ( PP ( IN in ) ( NP ( NN size ) ) ) ( PP-CLR ( PP ( IN from ) ( NP ( QP ( IN about ) ( CD 150,000 ) ) ( JJ square ) ( NNS feet ) ) ) ( PP ( TO to ) ( NP ( QP ( RB just ) ( IN over ) ( CD 250,000 ) ) ( JJ square ) ( NNS feet ) ) ) ) ) ) ) ) ) )

K mart developed the centers which range in size from about 150,000 square feet to just over 250,000 square feet


( S ( NP-SBJ-1 ( JJS Most ) ) ( VP ( VBP are ) ( VP ( VBN anchored ) ( PP ( IN by ) ( NP-LGS ( DT a ) ( NNP K ) ( NNP mart ) ( NN store ) ) ) ) ) )

Most are anchored by a K mart store


( S ( NP-SBJ ( DT The ) ( NN retailer ) ) ( ADVP ( RB reportedly ) ) ( VP ( MD will ) ( VP ( VB lease ) ( NP ( PRP$ its ) ( NNS stores ) ) ( ADVP ( RB back ) ) ( PP-CLR ( IN from ) ( NP ( NP ( DT the ) ( NN developer ) ) ( SBAR ( WHNP-1 ( WP who ) ) ( S ( VP ( VBZ plans ) ( S ( VP ( TO to ) ( VP ( VB expand ) ( NP ( DT the ) ( JJ small ) ( NNS centers ) ) ) ) ) ) ) ) ) ) ) ) )

The retailer reportedly will lease its stores back from the developer who plans to expand the small centers


( S ( NP-SBJ ( DT The ) ( NNS centers ) ) ( VP ( VBP comprise ) ( NP ( NP ( DT a ) ( NN total ) ) ( PP ( IN of ) ( NP ( NP ( QP ( IN about ) ( CD 1.6 ) ( CD million ) ) ( JJ square ) ( NNS feet ) ) ( PP ( IN of ) ( NP ( JJ retail ) ( NN space ) ) ) ) ) ) ) )

The centers comprise a total of about 1.6 million square feet of retail space


( S ( NP-SBJ ( PRP They ) ) ( VP ( VP ( VBP are ) ( VP ( VBN spread ) ( PP-LOC ( IN around ) ( NP ( DT the ) ( NN country ) ) ) ) ) ( CC and ) ( VP ( VBP include ) ( NP ( NP ( NNS locations ) ) ( PP-LOC ( IN in ) ( NP ( NNP California ) ( NNP Florida ) ( NNP Washington ) ( CC and ) ( NNP Arizona ) ) ) ) ) ) )

They are spread around the country and include locations in California Florida Washington and Arizona


( S ( NP-SBJ ( NP ( NNP Mr. ) ( NNP Pilevsky ) ) ( SBAR ( WHNP-1 ( WP who ) ) ( S ( VP ( VBZ heads ) ( NP ( NP ( NNP Philips ) ( NNP International ) ( NNP Holding ) ( NNP Corp. ) ) ( NP ( DT a ) ( ADJP ( NNP New ) ( JJ York-based ) ) ( JJ real ) ( NN estate ) ( NN company ) ) ) ) ) ) ) ( VP ( VBZ owns ) ( NP ( NP ( QP ( RBR more ) ( IN than ) ( DT a ) ( NN dozen ) ) ( JJ other ) ( NN shopping ) ( NNS centers ) ) ( SBAR ( WHPP-2 ( IN in ) ( WHNP ( WDT which ) ) ) ( S ( NP-SBJ ( NNP K ) ( NNP mart ) ) ( VP ( VBZ is ) ( NP-PRD ( DT a ) ( NN tenant ) ) ) ) ) ) ) )

Mr. Pilevsky who heads Philips International Holding Corp. a New York-based real estate company owns more than a dozen other shopping centers in which K mart is a tenant


( S ( NP-SBJ ( DT The ) ( NN company ) ) ( VP ( VBZ is ) ( ADJP-PRD ( JJ active ) ) ( PP-LOC ( IN in ) ( NP ( NP ( UCP ( NN office ) ( CC and ) ( JJ residential ) ) ( NN development ) ) ( PP-LOC ( IN in ) ( NP ( NNP New ) ( NNP York ) ) ) ) ) ) )

The company is active in office and residential development in New York


( S ( ADVP ( RB However ) ) ( ADVP-LOC ( RB nationally ) ) ( NP-SBJ ( NNP Mr. ) ( NNP Pilevsky ) ) ( VP ( VBZ controls ) ( PP-MNR ( IN through ) ( NP ( VBN limited ) ( NNS partnerships ) ) ) ( NP ( NP ( QP ( IN about ) ( CD 85 ) ) ( NN shopping ) ( NNS centers ) ) ( PP ( IN with ) ( NP ( QP ( IN about ) ( CD 17 ) ( CD million ) ) ( JJ square ) ( NNS feet ) ) ) ) ) )

However nationally Mr. Pilevsky controls through limited partnerships about 85 shopping centers with about 17 million square feet


( S ( NP-SBJ ( NNP K ) ( NNP mart ) ) ( VP ( VBZ runs ) ( NP ( CD 2,200 ) ( NNP K ) ( NNP mart ) ( NNS stores ) ) ( ADVP ( RB primarily ) ) ( PP-LOC ( IN in ) ( NP ( VBN leased ) ( NNS facilities ) ) ) ) )

K mart runs 2,200 K mart stores primarily in leased facilities


( S ( NP-SBJ ( DT The ) ( NN company ) ) ( VP ( VP ( ADVP ( RB typically ) ) ( VBZ sells ) ( NP ( NP ( DT the ) ( NNS centers ) ) ( SBAR ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBZ develops ) ) ) ) ) ) ( CC but ) ( VP ( VBZ has ) ( ADVP-TMP ( RB usually ) ) ( VP ( VBN sold ) ( NP ( NP ( QP ( RB only ) ( CD one ) ) ) ( CC or ) ( NP ( JJ several ) ) ) ( PP-TMP ( IN at ) ( NP ( DT a ) ( NN time ) ) ) ) ) ) )

The company typically sells the centers it develops but has usually sold only one or several at a time


( S ( NP-SBJ ( NP ( CD Two ) ( JJ recent ) ( NNS decisions ) ) ( PP ( IN by ) ( NP-LGS ( JJ federal ) ( NNS courts ) ) ) ) ( VP ( VBD cast ) ( NP ( NNS judges ) ) ( PP-CLR ( IN in ) ( NP ( NP ( DT the ) ( JJ odd ) ( NN role ) ) ( PP ( IN of ) ( S-NOM ( VP ( VBG telling ) ( NP ( NNS authors ) ) ( SBAR ( WHADVP-1 ( WRB how ) ) ( S ( NP-SBJ ( PRP they ) ) ( VP ( MD should ) ( VP ( VB write ) ( NP ( NN history ) ( CC and ) ( NN biography ) ) ) ) ) ) ) ) ) ) ) ) )

Two recent decisions by federal courts cast judges in the odd role of telling authors how they should write history and biography