( S ( NP-SBJ ( DT A ) ( NNP Par ) ( NN spokesman ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( PRP he ) ) ( VP ( VBD understood ) ( SBAR ( S ( NP-SBJ ( NP ( DT the ) ( JJ criminal ) ( NN investigation ) ) ( PP-LOC ( IN in ) ( NP ( NNP Maryland ) ) ) ) ( VP ( VBZ relates ) ( PP-CLR ( TO to ) ( NP ( NP ( NNS matters ) ) ( SBAR ( S ( NP-SBJ ( NNP Par ) ) ( VP ( VBD disclosed ) ( PP-TMP ( IN in ) ( NP ( NP ( NNP July ) ) ( SBAR ( WHADVP-2 ( WRB when ) ) ( S ( NP-SBJ ( NNP Par ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBD filed ) ( NP ( JJ false ) ( NN drug ) ( NN information ) ) ( PP-CLR ( IN with ) ( NP ( DT the ) ( NNP FDA ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

A Par spokesman said he understood the criminal investigation in Maryland relates to matters Par disclosed in July when Par said it filed false drug information with the FDA


( S ( PP-TMP ( IN At ) ( NP ( DT the ) ( NN time ) ) ) ( NP-SBJ ( DT the ) ( NN company ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ-1 ( PRP it ) ) ( VP ( VP ( VBD was ) ( VP ( VBG recalling ) ( NP ( NP ( CD one ) ) ( PP ( IN of ) ( NP ( PRP$ its ) ( NNS drugs ) ) ) ) ) ) ( CC and ) ( VP ( VBD had ) ( VP ( VBN stopped ) ( S ( VP ( VBG selling ) ( NP ( CD two ) ( NNS others ) ) ) ) ) ) ) ) ) ) )

At the time the company said it was recalling one of its drugs and had stopped selling two others


( S ( NP-SBJ ( DT The ) ( NN spokesman ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( PRP he ) ) ( ADVP ( RB also ) ) ( VP ( VBD understood ) ( SBAR ( IN that ) ( S ( NP-SBJ ( DT the ) ( NN inquiry ) ) ( VP ( VBD related ) ( PP-CLR ( TO to ) ( NP ( NP ( DT the ) ( NN existence ) ) ( PP ( IN of ) ( NP ( DT an ) ( JJ off-the-record ) ( NN production ) ( NN book ) ) ) ) ) ) ) ) ) ) ) ) )

The spokesman said he also understood that the inquiry related to the existence of an off-the-record production book


( S ( NP-SBJ ( DT The ) ( NN book ) ) ( VP ( VBD noted ) ( NP ( NP ( NNS changes ) ) ( VP ( VBN made ) ( PP-LOC ( IN at ) ( NP ( DT the ) ( NN manufacturing ) ( NN level ) ) ) ) ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( VP ( VBD were ) ( RB n't ) ( VP ( VBN disclosed ) ( PP-CLR ( TO to ) ( NP ( DT the ) ( NNP FDA ) ) ) ) ) ) ) ) ) )

The book noted changes made at the manufacturing level that were n't disclosed to the FDA


( S ( NP-SBJ ( NNP Par ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBZ is ) ( VP ( VBG cooperating ) ( PP-LOC-CLR ( IN in ) ( NP ( DT the ) ( NN investigation ) ) ) ) ) ) ) ) )

Par said it is cooperating in the investigation


( S ( ADVP ( RB Also ) ) ( NP-TMP ( NN yesterday ) ) ( NP-SBJ-1 ( NP ( NNP Ashok ) ( NNP Patel ) ) ( NP ( NP ( DT a ) ( JJ former ) ( NNP Par ) ( NN official ) ) ( SBAR ( WHNP-2 ( WP who ) ) ( S ( VP ( VBD pleaded ) ( ADJP-PRD ( JJ guilty ) ( PP ( TO to ) ( S-NOM ( VP ( VBG providing ) ( NP ( DT an ) ( NNP FDA ) ( NN employee ) ) ( NP ( NP ( DT an ) ( JJ illegal ) ( NN gratuity ) ) ( PP ( IN of ) ( NP ( CD 3,000 ) ) ) ) ) ) ) ) ) ) ) ) ) ( VP ( VBD was ) ( VP ( VBN sentenced ) ( PP ( IN by ) ( NP-LGS ( DT a ) ( JJ federal ) ( NN judge ) ) ) ( PP-LOC ( IN in ) ( NP ( NNP Baltimore ) ) ) ( PP-CLR ( TO to ) ( NP ( NP ( NP ( CD one ) ( NN year ) ) ( PP ( IN of ) ( NP ( NN community ) ( NN service ) ) ) ) ( CC and ) ( NP ( DT a ) ( ADJP ( QP ( CD 150,000 ) ) ) ( NN fine ) ) ) ) ) ) )

Also yesterday Ashok Patel a former Par official who pleaded guilty to providing an FDA employee an illegal gratuity of 3,000 was sentenced by a federal judge in Baltimore to one year of community service and a 150,000 fine


( S ( NP-SBJ-1 ( NNP Mr. ) ( NNP Patel ) ) ( ADVP ( RB also ) ) ( VP ( VBD was ) ( VP ( VBN placed ) ( PP-CLR ( IN on ) ( NP ( NP ( CD three ) ( NNS years ) ( POS ' ) ) ( NN probation ) ) ) ) ) )

Mr. Patel also was placed on three years ' probation


( S ( NP-SBJ ( NNP Mr. ) ( NNP Patel ) ) ( VP ( VBD resigned ) ( PP ( IN as ) ( NP ( NP ( JJ senior ) ( NN vice ) ( NN president ) ) ( PP ( IN of ) ( NP ( NNP Par ) ) ) ) ) ( PP-TMP ( IN in ) ( NP ( NNP April ) ) ) ) )

Mr. Patel resigned as senior vice president of Par in April


( S ( PP-TMP ( IN In ) ( NP ( NNP July ) ) ) ( NP-SBJ-1 ( NP ( NNP Par ) ) ( CC and ) ( NP ( DT a ) ( JJ 60%-owned ) ( NN unit ) ) ) ( VP ( VBD agreed ) ( S ( VP ( TO to ) ( VP ( VB plead ) ( ADJP-PRD ( JJ guilty ) ) ( PP-LOC ( IN in ) ( NP ( DT that ) ( NN inquiry ) ) ) ( SBAR-ADV ( IN as ) ( SINV ( VBD did ) ( NP-SBJ ( DT another ) ( JJ former ) ( NNP Par ) ( NN official ) ) ) ) ) ) ) ) )

In July Par and a 60%-owned unit agreed to plead guilty in that inquiry as did another former Par official


( S ( NP-SBJ-1 ( NNP Mr. ) ( NNP Sawyer ) ) ( VP ( VBD began ) ( S ( VP ( VBG running ) ( NP ( DT the ) ( NN company ) ) ( PP ( IN on ) ( NP ( DT an ) ( JJ interim ) ( NN basis ) ) ) ( PP-TMP ( IN in ) ( NP ( JJ late ) ( NNP September ) ) ) ) ) ) )

Mr. Sawyer began running the company on an interim basis in late September


( S ( NP-SBJ ( NNP Par ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBD selected ) ( NP ( PRP him ) ) ( PP-CLR ( IN for ) ( NP ( NP ( DT the ) ( NNS posts ) ) ( PP ( IN of ) ( NP ( NP ( NN president ) ) ( CC and ) ( NP ( JJ chief ) ( NN executive ) ) ) ) ) ) ( PP ( IN on ) ( NP ( DT a ) ( JJ permanent ) ( NN basis ) ) ) ( PP-PRP ( IN because ) ( IN of ) ( NP ( NP ( NP ( PRP$ his ) ( NN experience ) ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( NN industry ) ) ) ) ( CC and ) ( NP ( NP ( PRP$ his ) ( NN performance ) ) ( PP-LOC ( IN at ) ( NP ( NNP Par ) ) ) ) ) ) ) ) ) ) )

Par said it selected him for the posts of president and chief executive on a permanent basis because of his experience in the industry and his performance at Par


( S ( NP-SBJ ( NP ( NNP Perry ) ( NNP Levine ) ) ( NP ( NN chairman ) ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( NNP Mr. ) ( NNP Sawyer ) ) ( VP ( VBD had ) ( VP ( VBN taken ) ( NP ( NP ( JJ significant ) ( NNS steps ) ) ( SBAR ( S ( VP ( TO to ) ( VP ( VB restore ) ( NP ( NP ( DT the ) ( NN company ) ( POS 's ) ) ( NX ( NX ( NN credibility ) ) ( CC and ) ( NX ( NX ( NN sense ) ) ( PP ( IN of ) ( NP ( NN professionalism ) ( CC and ) ( NN integrity ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Perry Levine chairman said Mr. Sawyer had taken significant steps to restore the company 's credibility and sense of professionalism and integrity


( S ( NP-SBJ ( NNS INSURERS ) ) ( VP ( VBP ARE ) ( VP ( VBG FACING ) ( NP ( NP ( NNS billions ) ) ( PP ( IN of ) ( NP ( NNS dollars ) ) ) ( PP-LOC ( IN in ) ( NP ( NP ( NN damage ) ( NNS claims ) ) ( PP ( IN from ) ( NP ( DT the ) ( NNP California ) ( NN quake ) ) ) ) ) ) ) ) )

INSURERS ARE FACING billions of dollars in damage claims from the California quake


( S ( CC But ) ( NP-SBJ-1 ( NP ( JJS most ) ( NNS businesses ) ) ( PP-LOC ( IN in ) ( NP ( NP ( DT the ) ( NNP Bay ) ( NN area ) ) ( PP ( VBG including ) ( NP ( NNP Silicon ) ( NNP Valley ) ) ) ) ) ) ( VP ( VBD were ) ( RB n't ) ( VP ( ADVP-MNR ( RB greatly ) ) ( VBN affected ) ) ) )

But most businesses in the Bay area including Silicon Valley were n't greatly affected


( S ( NP-SBJ ( NP ( NN Computer ) ( CC and ) ( NN software ) ( NNS companies ) ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( NN region ) ) ) ) ( VP ( VBP are ) ( VP ( VBG expecting ) ( NP ( NP ( ADJP ( RB virtually ) ( DT no ) ) ( JJ long-term ) ( NN disruption ) ) ( PP-LOC ( IN in ) ( NP ( NNS shipments ) ) ) ) ) ) )

Computer and software companies in the region are expecting virtually no long-term disruption in shipments


( S ( ADVP ( RB Also ) ) ( NP-SBJ ( NNS investors ) ) ( VP ( ADVP-MNR ( RB quickly ) ) ( VBD singled ) ( PRT ( RP out ) ) ( NP ( NP ( NNS stocks ) ) ( PP ( IN of ) ( NP ( NP ( NNS companies ) ) ( VP ( VBN expected ) ( S ( VP ( TO to ) ( VP ( VB profit ) ( CC or ) ( VB suffer ) ( PP-CLR ( IN from ) ( NP ( DT the ) ( NN disaster ) ) ) ) ) ) ) ) ) ) ) )

Also investors quickly singled out stocks of companies expected to profit or suffer from the disaster


( S ( NP-SBJ-1 ( JJ Leveraged ) ( NNS buy-outs ) ) ( VP ( MD may ) ( VP ( VB be ) ( VP ( VBN curbed ) ( PP-LGS ( IN by ) ( NP ( NP ( CD two ) ( NNS rules ) ) ( PP-LOC ( IN in ) ( NP ( VBG pending ) ( JJ congressional ) ( NN legislation ) ) ) ) ) ) ) ) )

Leveraged buy-outs may be curbed by two rules in pending congressional legislation


( S ( NP-SBJ ( NP ( DT The ) ( NNS provisions ) ) ( PP-LOC ( IN in ) ( NP ( NP ( JJ deficit-reduction ) ( NNS bills ) ) ( VP ( ADVP-TMP ( RB recently ) ) ( VBN passed ) ( PP ( IN by ) ( NP-LGS ( DT the ) ( NNP House ) ( CC and ) ( NNP Senate ) ) ) ) ) ) ) ( VP ( MD could ) ( VP ( VP ( VB raise ) ( NP ( NP ( DT the ) ( NN price ) ( NNS tags ) ) ( PP ( IN of ) ( NP ( JJ such ) ( NNS deals ) ) ) ) ( PP-EXT ( IN by ) ( NP ( QP ( IN up ) ( TO to ) ( CD 10 ) ) ( NN % ) ) ) ) ( CC and ) ( VP ( VB cool ) ( NP ( DT the ) ( NN takeover ) ( NN boom ) ) ) ) ) )

The provisions in deficit-reduction bills recently passed by the House and Senate could raise the price tags of such deals by up to 10 % and cool the takeover boom


( S ( NP-SBJ ( NP ( DT A ) ( NN bill ) ) ( VP ( VBG giving ) ( NP ( DT the ) ( NNP Transportation ) ( NNP Department ) ) ( NP ( DT the ) ( NN power ) ( S ( VP ( TO to ) ( VP ( VB block ) ( NP ( NN airline ) ( JJ leveraged ) ( NNS buy-outs ) ) ) ) ) ) ) ) ( VP ( VBD cleared ) ( NP ( DT a ) ( NN House ) ( NN panel ) ) ) )

A bill giving the Transportation Department the power to block airline leveraged buy-outs cleared a House panel


( S ( CC But ) ( NP-SBJ ( NNP Secretary ) ( NNP Skinner ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( PRP he ) ) ( VP ( MD would ) ( VP ( VB urge ) ( NP-1 ( NNP Bush ) ) ( S ( VP ( TO to ) ( VP ( VB veto ) ( NP ( DT the ) ( NN bill ) ) ) ) ) ) ) ) ) ) )

But Secretary Skinner said he would urge Bush to veto the bill


( S ( NP-SBJ ( NN Housing ) ( NNS starts ) ) ( VP ( VBD sank ) ( NP-EXT ( CD 5.2 ) ( NN % ) ) ( PP-TMP ( IN in ) ( NP ( NNP September ) ) ) ( PP-DIR ( TO to ) ( NP ( DT a ) ( JJ seven-year ) ( JJ low ) ) ) ) )

Housing starts sank 5.2 % in September to a seven-year low


( S ( NP-SBJ ( DT The ) ( NN drop ) ) ( PP-TMP ( VBG following ) ( NP ( NP ( DT a ) ( ADJP ( CD 6.2 ) ( NN % ) ) ( NN decline ) ) ( PP-TMP ( IN in ) ( NP ( NNP August ) ) ) ) ) ( VP ( VBZ indicates ) ( SBAR ( S ( NP-SBJ-1 ( DT the ) ( NN industry ) ) ( VP ( VBZ is ) ( ADVP-TMP ( RB still ) ) ( VP ( VBG being ) ( VP ( VBN hurt ) ( PP ( IN by ) ( NP-LGS ( NP ( DT the ) ( NNP Fed ) ( POS 's ) ) ( JJ anti-inflation ) ( NN battle ) ) ) ) ) ) ) ) ) )

The drop following a 6.2 % decline in August indicates the industry is still being hurt by the Fed 's anti-inflation battle


( S ( NP-SBJ-1 ( NNP IBM ) ) ( VP ( VBZ plans ) ( S ( VP ( TO to ) ( VP ( VB buy ) ( PRT ( RP back ) ) ( NP ( NP ( QP ( CD 1 ) ( CD billion ) ) ) ( PP ( IN of ) ( NP ( PRP$ its ) ( JJ common ) ( NNS shares ) ) ) ) ( NP-ADV ( NP ( DT a ) ( NN move ) ) ( ADJP ( RB likely ) ( S ( VP ( TO to ) ( VP ( VB help ) ( NP ( NP ( DT the ) ( NN computer ) ( NN giant ) ( POS 's ) ) ( JJ battered ) ( NN stock ) ) ) ) ) ) ) ) ) ) ) )

IBM plans to buy back 1 billion of its common shares a move likely to help the computer giant 's battered stock


( S ( NP-SBJ-1 ( NP ( DT The ) ( NN buy-back ) ) ( SBAR ( WHNP-2 ( WDT which ) ) ( S ( VP ( VBD was ) ( RB n't ) ( NP-PRD ( DT a ) ( JJ complete ) ( NN surprise ) ) ) ) ) ) ( VP ( VBD was ) ( VP ( VBN announced ) ( SBAR-TMP ( IN after ) ( S ( NP-SBJ ( DT the ) ( NN stock ) ( NN market ) ) ( VP ( VBD had ) ( VP ( VBN closed ) ) ) ) ) ) ) )

The buy-back which was n't a complete surprise was announced after the stock market had closed


( S ( NP-SBJ-1 ( DT A ) ( NNS capital-gains ) ( NN tax ) ( NN cut ) ( NN plan ) ) ( VP ( VBZ has ) ( VP ( VBN been ) ( VP ( VBN worked ) ( PRT ( RP out ) ) ( PP ( IN by ) ( NP-LGS ( NNP Senate ) ( NNPS Republicans ) ) ) ) ) ) )

A capital-gains tax cut plan has been worked out by Senate Republicans


( S ( NP-SBJ-1 ( DT A ) ( JJ similar ) ( NN proposal ) ) ( VP ( MD may ) ( VP ( VB be ) ( VP ( VBN introduced ) ( ADVP-TMP ( RB soon ) ) ( PP ( IN by ) ( NP-LGS ( NNP Senate ) ( NNPS Democrats ) ) ) ) ) ) )

A similar proposal may be introduced soon by Senate Democrats


( S ( NP-SBJ ( NNP British ) ( NNP Airways ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBZ is ) ( VP ( VBG seeking ) ( NP ( NP ( JJ improved ) ( NNS terms ) ) ( CC and ) ( NP ( DT a ) ( ADJP ( RB sharply ) ( JJR lower ) ) ( NN price ) ) ) ( PP-LOC ( IN in ) ( NP ( NP ( DT any ) ( VBN revised ) ( NN bid ) ) ( PP ( IN for ) ( NP ( NP ( NNP United ) ( NNP Air ) ( POS 's ) ) ( NN parent ) ) ) ) ) ) ) ) ) ) )

British Airways said it is seeking improved terms and a sharply lower price in any revised bid for United Air 's parent


( S ( NP-SBJ ( DT The ) ( JJ British ) ( NN carrier ) ) ( ADVP ( RB also ) ) ( VP ( VBD confirmed ) ( SBAR ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBZ is ) ( RB n't ) ( ADJP-PRD ( VBN committed ) ( PP ( TO to ) ( S-NOM ( VP ( VBG going ) ( ADVP-DIR ( RB forward ) ) ( PP-CLR ( IN with ) ( NP ( DT any ) ( JJ new ) ( NN bid ) ) ) ) ) ) ) ) ) ) ) )

The British carrier also confirmed it is n't committed to going forward with any new bid


( S ( NP-SBJ ( NP ( NNP UAL ) ( POS 's ) ) ( NN stock ) ) ( VP ( VBD fell ) ( NP-EXT ( CD 6.25 ) ) ( PP-DIR ( TO to ) ( NP ( CD 191.75 ) ) ) ) )

UAL 's stock fell 6.25 to 191.75


( S ( NP-SBJ ( NN Stock ) ( NNS prices ) ) ( VP ( VBD rose ) ( ADVP-CLR ( RB slightly ) ) ( SBAR-TMP ( IN as ) ( S ( NP-SBJ ( NN trading ) ) ( VP ( VBD slowed ) ) ) ) ( SBAR-ADV ( IN while ) ( S ( NP-SBJ-1 ( NNS bonds ) ) ( VP ( VBD ended ) ( S-CLR ( ADJP-PRD ( RB little ) ( VBN changed ) ) ) ( PP ( IN despite ) ( NP ( DT a ) ( VBG slumping ) ( NN dollar ) ) ) ) ) ) ) )

Stock prices rose slightly as trading slowed while bonds ended little changed despite a slumping dollar


( S ( NP-SBJ ( DT The ) ( NNP Dow ) ( NNP Jones ) ( NNS industrials ) ) ( VP ( VBD gained ) ( NP ( CD 4.92 ) ) ( PP-DIR ( TO to ) ( NP ( CD 2643.65 ) ) ) ) )

The Dow Jones industrials gained 4.92 to 2643.65


( S ( CC But ) ( NP-SBJ ( NNS investors ) ) ( VP ( VBP remain ) ( ADJP-PRD ( JJ wary ) ( PP ( IN about ) ( NP ( NNS stocks ) ) ) ) ( PP-PRP ( ADVP ( RB partly ) ) ( IN because ) ( IN of ) ( NP ( NP ( NN turmoil ) ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( NN junk-bond ) ( NN market ) ) ) ) ) ) )

But investors remain wary about stocks partly because of turmoil in the junk-bond market


( S ( NP-SBJ ( NNP B.A.T ) ( NNP Industries ) ) ( VP ( MD may ) ( VP ( VB delay ) ( NP ( NP ( NN part ) ) ( PP ( IN of ) ( NP ( PRP$ its ) ( JJ defensive ) ( NN restructuring ) ( NN plan ) ) ) ( PP ( VBG including ) ( NP ( NP ( DT the ) ( NN sale ) ) ( PP ( IN of ) ( NP ( PRP$ its ) ( NNP Saks ) ( NNP Fifth ) ( NNP Avenue ) ( CC and ) ( NNP Marshall ) ( NNP Field ) ( NNS units ) ) ) ) ) ) ) ) )

B.A.T Industries may delay part of its defensive restructuring plan including the sale of its Saks Fifth Avenue and Marshall Field units


( S ( NP-SBJ ( DT The ) ( JJ British ) ( NN conglomerate ) ) ( VP ( VBD cited ) ( NP ( NP ( DT the ) ( JJ recent ) ( NN turmoil ) ) ( PP-LOC ( IN in ) ( NP ( JJ financial ) ( NNS markets ) ) ) ) ) )

The British conglomerate cited the recent turmoil in financial markets


( S ( NP-SBJ ( NNP WCRS ) ( NNP Group ) ) ( VP ( VBD announced ) ( NP ( NP ( DT a ) ( JJ major ) ( NN restructuring ) ) ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( VP ( ADVP ( RB largely ) ) ( VBZ removes ) ( NP ( PRP it ) ) ( PP-DIR ( IN from ) ( NP ( DT the ) ( NN advertising ) ( NN business ) ) ) ) ) ) ) ) )

WCRS Group announced a major restructuring that largely removes it from the advertising business


( S ( NP-SBJ ( DT The ) ( JJ London-based ) ( NN concern ) ) ( VP ( MD will ) ( VP ( VB sell ) ( NP ( NP ( JJS most ) ) ( PP ( IN of ) ( NP ( PRP$ its ) ( NN ad ) ( NN unit ) ) ) ) ( PP-DTV ( TO to ) ( NP ( NP ( NNP France ) ( POS 's ) ) ( NNP Eurocom ) ) ) ) ) )

The London-based concern will sell most of its ad unit to France 's Eurocom


( S ( NP-SBJ-1 ( NNP Commodore ) ( NNP International ) ) ( VP ( VBZ expects ) ( S ( VP ( TO to ) ( VP ( VB post ) ( NP ( PRP$ its ) ( JJ second ) ( JJ consecutive ) ( JJ quarterly ) ( NN loss ) ) ( PP-PRP ( IN because ) ( IN of ) ( NP ( NP ( JJ weak ) ( JJ personal ) ( NN computer ) ( NNS sales ) ) ( PP-LOC ( IN in ) ( NP ( DT some ) ( NNS markets ) ) ) ) ) ) ) ) ) )

Commodore International expects to post its second consecutive quarterly loss because of weak personal computer sales in some markets


( S ( NP-SBJ-2 ( NNP Jaguar ) ) ( VP ( VBZ hopes ) ( S ( VP ( TO to ) ( VP ( VB reach ) ( NP ( NP ( DT a ) ( JJ friendly ) ( NN accord ) ) ( PP ( IN with ) ( NP ( NNP General ) ( NNP Motors ) ) ) ) ( PP-TMP ( IN within ) ( NP ( DT a ) ( NN month ) ) ) ( SBAR-1 ( WHNP-3 ( WDT that ) ) ( S ( VP ( MD may ) ( VP ( VB involve ) ( S ( VP ( VBG producing ) ( NP ( DT a ) ( JJR cheaper ) ( JJ executive ) ( NN model ) ) ) ) ) ) ) ) ) ) ) ) )

Jaguar hopes to reach a friendly accord with General Motors within a month that may involve producing a cheaper executive model


( S ( S-TPC-1 ( NP-SBJ-2 ( NNP Sears ) ) ( VP ( VBZ is ) ( VP ( VBG negotiating ) ( S-PRP ( VP ( TO to ) ( VP ( VB refinance ) ( NP ( PRP$ its ) ( NNP Sears ) ( NNP Tower ) ) ( PP-CLR ( IN for ) ( NP ( QP ( RB close ) ( TO to ) ( CD 850 ) ( CD million ) ) ) ) ) ) ) ) ) ) ( NP-SBJ ( NNS sources ) ) ( VP ( VBD said ) ) )

Sears is negotiating to refinance its Sears Tower for close to 850 million sources said


( S ( NP-SBJ-1 ( DT The ) ( NN retailer ) ) ( VP ( VBD was ) ( ADJP-PRD ( JJ unable ) ( S ( VP ( TO to ) ( VP ( VB find ) ( NP ( NP ( DT a ) ( NN buyer ) ) ( PP ( IN for ) ( NP ( DT the ) ( NN building ) ) ) ) ) ) ) ) ) )

The retailer was unable to find a buyer for the building


( S ( NP-SBJ-1 ( NP ( NNP Whitbread ) ) ( PP ( IN of ) ( NP ( NNP Britain ) ) ) ) ( VP ( VBD put ) ( NP ( PRP$ its ) ( NNS spirits ) ( NN division ) ) ( ADVP-CLR ( RB up ) ( PP ( IN for ) ( NP ( NN sale ) ) ) ) ( S-ADV ( VP ( VBG setting ) ( PRT ( RP off ) ) ( NP ( NP ( DT a ) ( NN scramble ) ) ( PP-LOC ( IN among ) ( NP ( NNS distillers ) ) ) ) ) ) ) )

Whitbread of Britain put its spirits division up for sale setting off a scramble among distillers


( S ( NP-SBJ ( DT The ) ( NN business ) ) ( VP ( VBZ includes ) ( NP ( NNP Beefeater ) ( NN gin ) ) ) )

The business includes Beefeater gin


Markets


( NP ( NP ( NNS Stocks ) ) ( NP ( NP ( NN Volume ) ) ( NP ( CD 166,900,000 ) ( NNS shares ) ) ) )

Stocks Volume 166,900,000 shares


( NP ( NP ( NP ( NNP Dow ) ( NNP Jones ) ( VBZ industrials ) ) ( NP ( CD 2643.65 ) ) ( ADVP ( RB up ) ( NP ( CD 4.92 ) ) ) ) ( NP ( NP ( NN transportation ) ) ( NP ( CD 1247.87 ) ) ( ADVP ( RB off ) ( NP ( CD 6.40 ) ) ) ) ( NP ( NP ( NNS utilities ) ) ( NP ( CD 213.97 ) ) ( ADVP ( RB off ) ( NP ( CD 0.57 ) ) ) ) )

Dow Jones industrials 2643.65 up 4.92 transportation 1247.87 off 6.40 utilities 213.97 off 0.57


( NP ( NP ( NNS Bonds ) ) ( NP ( NP ( NNP Shearson ) ( NNP Lehman ) ( NNP Hutton ) ( NNP Treasury ) ( NN index ) ) ( NP ( CD 3371.36 ) ) ( ADVP ( RB off ) ) ) )

Bonds Shearson Lehman Hutton Treasury index 3371.36 off


( NP ( NP ( NNS Commodities ) ) ( NP ( NP ( NP ( NNP Dow ) ( NNP Jones ) ( NNS futures ) ( NN index ) ) ( NP ( CD 129.90 ) ) ( ADVP ( RB up ) ( NP ( CD 0.18 ) ) ) ) ( NP ( NP ( NN spot ) ( NN index ) ) ( NP ( CD 130.36 ) ) ( ADVP ( RB up ) ( NP ( CD 0.39 ) ) ) ) ) )

Commodities Dow Jones futures index 129.90 up 0.18 spot index 130.36 up 0.39


( NP ( NP ( NN Dollar ) ) ( NP ( NP ( NP ( CD 141.45 ) ( NN yen ) ) ( ADVP ( RB off ) ( NP ( CD 1.30 ) ) ) ) ( NP ( NP ( CD 1.8485 ) ( NNS marks ) ) ( ADVP ( RB off ) ( NP ( CD 0.0182 ) ) ) ) ) )

Dollar 141.45 yen off 1.30 1.8485 marks off 0.0182


( S ( NP-SBJ ( NNP Cincinnati ) ( NNP Microwave ) ( NNP Inc. ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBD introduced ) ( NP ( CD two ) ( NN radar ) ( NNS detectors ) ) ) ) ) ) )

Cincinnati Microwave Inc. said it introduced two radar detectors


( S ( S-TPC-2 ( NP-SBJ-1 ( NP ( CD One ) ( NN unit ) ) ( VP ( VBD called ) ( S ( NP-PRD ( DT the ) ( NNP Escort ) ) ) ) ) ( VP ( VBZ uses ) ( NP ( DT a ) ( JJ new ) ( JJ digital ) ( JJ signal-processing ) ( NN technology ) ) ( S-CLR ( VP ( TO to ) ( VP ( VB detect ) ( NP ( NN radar ) ( NNS signals ) ) ( ADVP-TMP ( ADVP ( RB much ) ( RBR sooner ) ) ( SBAR ( IN than ) ( S ( VP ( VBD was ) ( ADVP-TMP ( RB previously ) ) ( ADJP-PRD ( JJ possible ) ) ) ) ) ) ) ) ) ) ) ( NP-SBJ ( DT the ) ( NN company ) ) ( VP ( VBD said ) ) )

One unit called the Escort uses a new digital signal-processing technology to detect radar signals much sooner than was previously possible the company said


( S ( S-TPC-2 ( NP-SBJ ( NP ( DT The ) ( JJ other ) ) ( VP ( VBN called ) ( S ( NP-PRD ( DT the ) ( NNP Solo ) ) ) ) ) ( VP ( VP ( VBZ is ) ( ADJP-PRD ( NN battery ) ( VBN operated ) ) ) ( CC and ) ( VP ( VBZ is ) ( NP-PRD ( NP ( DT the ) ( JJ first ) ( JJ high-performance ) ( NN radar ) ( NN detector ) ) ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( VP ( VBZ does ) ( RB n't ) ( VP ( VB need ) ( NP ( DT a ) ( NN power ) ( NN cord ) ) ) ) ) ) ) ) ) ) ( NP-SBJ ( DT the ) ( NN company ) ) ( VP ( VBD said ) ) )

The other called the Solo is battery operated and is the first high-performance radar detector that does n't need a power cord the company said


( S ( NP-SBJ ( DT The ) ( NNP Arizona ) ( NNP Corporations ) ( NNP Commission ) ) ( VP ( VBD authorized ) ( NP ( NP ( DT an ) ( ADJP ( CD 11.5 ) ) ( NN % ) ( NN rate ) ( NN increase ) ) ( PP-LOC ( IN at ) ( NP ( NNP Tucson ) ( NNP Electric ) ( NNP Power ) ( NNP Co. ) ) ) ( UCP ( ADJP ( ADJP ( RB substantially ) ( JJR lower ) ) ( SBAR ( IN than ) ( S ( VP ( VBN recommended ) ( NP-TMP ( JJ last ) ( NN month ) ) ( PP ( IN by ) ( NP-LGS ( DT a ) ( NN commission ) ( NN hearing ) ( NN officer ) ) ) ) ) ) ) ( CC and ) ( NP ( NP ( QP ( RB barely ) ( PDT half ) ) ( DT the ) ( NN rise ) ) ( VP ( VBN sought ) ( PP ( IN by ) ( NP-LGS ( DT the ) ( NN utility ) ) ) ) ) ) ) ) )

The Arizona Corporations Commission authorized an 11.5 % rate increase at Tucson Electric Power Co. substantially lower than recommended last month by a commission hearing officer and barely half the rise sought by the utility


( S ( NP-SBJ ( DT The ) ( NN ruling ) ) ( VP ( VBZ follows ) ( NP ( NP ( DT a ) ( NN host ) ) ( PP ( IN of ) ( NP ( NNS problems ) ) ) ( PP-LOC ( IN at ) ( NP ( NNP Tucson ) ( NNP Electric ) ) ) ( PP ( VBG including ) ( NP ( NP ( JJ major ) ( NNS write-downs ) ) ( NP ( NP ( DT a ) ( ADJP ( CD 60 ) ( NN % ) ) ( NN slash ) ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( JJ common ) ( NN stock ) ( NN dividend ) ) ) ) ( CC and ) ( NP ( NP ( DT the ) ( NN departure ) ) ( PP ( IN of ) ( NP ( JJ former ) ( NNP Chairman ) ( NNP Einar ) ( NNP Greve ) ) ) ( PP-TMP ( IN during ) ( NP ( NP ( DT a ) ( NN company ) ( NN investigation ) ) ( PP ( IN of ) ( NP ( PRP$ his ) ( NN stock ) ( NNS sales ) ) ) ) ) ) ) ) ) ) )

The ruling follows a host of problems at Tucson Electric including major write-downs a 60 % slash in the common stock dividend and the departure of former Chairman Einar Greve during a company investigation of his stock sales


( S ( NP-SBJ ( DT The ) ( NNP Arizona ) ( JJ regulatory ) ( NN ruling ) ) ( VP ( VBZ calls ) ( PP-CLR ( IN for ) ( NP ( NP ( QP ( CD 42 ) ( CD million ) ) ) ( PP-LOC ( IN in ) ( NP ( JJ added ) ( NN revenue ) ) ) ( ADVP-TMP ( RB yearly ) ) ( PP ( VBN compared ) ( PP ( IN with ) ( NP ( NP ( DT a ) ( ADJP ( QP ( CD 57 ) ( CD million ) ) ) ( NN boost ) ) ( VP ( VBN proposed ) ( PP ( IN by ) ( NP-LGS ( DT the ) ( NN commission ) ( NN hearing ) ( NN officer ) ) ) ) ) ) ) ) ) ) )

The Arizona regulatory ruling calls for 42 million in added revenue yearly compared with a 57 million boost proposed by the commission hearing officer


( S ( NP-SBJ ( DT The ) ( NN company ) ) ( VP ( VBD had ) ( VP ( VBN sought ) ( NP ( NP ( NNS increases ) ) ( VP ( VBG totaling ) ( NP ( NP ( QP ( CD 80.3 ) ( CD million ) ) ) ( CC or ) ( NP ( CD 22 ) ( NN % ) ) ) ) ) ) ) )

The company had sought increases totaling 80.3 million or 22 %


( S ( NP-SBJ-1 ( DT The ) ( NN decision ) ) ( VP ( VBD was ) ( VP ( VBN announced ) ( SBAR-TMP ( IN after ) ( S ( NP-SBJ ( NN trading ) ) ( VP ( VBD ended ) ) ) ) ) ) )

The decision was announced after trading ended


( S ( NP-SBJ ( NNP Tucson ) ( NNP Electric ) ) ( VP ( VBD closed ) ( PP-CLR ( IN at ) ( NP ( NP ( CD 20.875 ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ( ADVP ( RB down ) ( NP ( CD 25 ) ( NNS cents ) ) ) ( PP-LOC ( IN in ) ( NP ( NNP New ) ( NNP York ) ( NNP Stock ) ( NNP Exchange ) ( JJ composite ) ( NN trading ) ) ) ) )

Tucson Electric closed at 20.875 a share down 25 cents in New York Stock Exchange composite trading


( S ( NP-SBJ ( DT A ) ( NNP Tucson ) ( NNP Electric ) ( NN spokesman ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( DT the ) ( NN utility ) ) ( VP ( VBD was ) ( ADJP-PRD ( ADJP ( VBN disappointed ) ( PP ( IN by ) ( NP ( NP ( DT the ) ( NN commission ) ( POS 's ) ) ( NN decision ) ) ) ) ( CC and ) ( ADJP ( JJ concerned ) ( PP ( IN about ) ( NP ( NP ( DT the ) ( JJ financial ) ( NN integrity ) ) ( PP ( IN of ) ( NP ( DT the ) ( NN company ) ) ) ) ) ) ) ) ) ) ) )

A Tucson Electric spokesman said the utility was disappointed by the commission 's decision and concerned about the financial integrity of the company


( S ( NP-SBJ ( DT The ) ( NNP House ) ( NNP Ethics ) ( NNP Committee ) ) ( VP ( VP ( ADVP-MNR ( RB officially ) ) ( VBD cited ) ( NP-1 ( NP ( NNP Rep. ) ( NNP Jim ) ( NNP Bates ) ) ( PRN ( NP ( NNP D. ) ) ( NP-LOC ( NNP Calif ) ) ) ) ( PP-PRP ( IN for ) ( S-NOM ( VP ( ADVP-MNR ( RB sexually ) ) ( VBG harassing ) ( NP ( CD two ) ( JJ female ) ( NNS employees ) ) ) ) ) ) ( CC but ) ( VP ( VBD did ) ( RB n't ) ( VP ( VB recommend ) ( NP ( JJ formal ) ( JJ disciplinary ) ( NN action ) ) ) ) ) )

The House Ethics Committee officially cited Rep. Jim Bates D. Calif for sexually harassing two female employees but did n't recommend formal disciplinary action


( S ( S ( NP-SBJ ( NNP Rep. ) ( NNP Bates ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( PRP he ) ) ( VP ( VBD accepted ) ( NP ( DT the ) ( NN finding ) ) ) ) ) ) ) ( CC but ) ( S ( NP-SBJ ( NP ( NP ( CD one ) ) ( PP ( IN of ) ( NP ( DT the ) ( NNS victims ) ) ) ) ( NP ( NNP Dorena ) ( NNP Bertussi ) ) ) ( VP ( VBD denounced ) ( NP ( NP ( DT the ) ( NNS ethics ) ( NN panel ) ( POS 's ) ) ( NN action ) ) ( PP-CLR ( IN as ) ( ADJP ( JJ absurd ) ) ) ) ) )

Rep. Bates said he accepted the finding but one of the victims Dorena Bertussi denounced the ethics panel 's action as absurd


( S ( S-ADV ( VP ( VBG Acting ) ( SBAR-TMP ( NP ( QP ( RBR more ) ( IN than ) ( DT a ) ) ( NN year ) ) ( IN after ) ( S ( NP-SBJ ( NNP Ms. ) ( NNP Bertussi ) ) ( VP ( VBD filed ) ( NP ( DT a ) ( NN complaint ) ) ) ) ) ) ) ( NP-SBJ-2 ( DT the ) ( NN panel ) ) ( VP ( VBD issued ) ( NP ( NP ( DT a ) ( NN letter ) ) ( PP ( IN of ) ( NP ( NN reproval ) ) ) ( VP ( VBG saying ) ( SBAR ( S ( NP-SBJ ( NNP Rep. ) ( NNP Bates ) ) ( VP ( VBD had ) ( VP ( VBN admitted ) ( NP ( NP ( NN conduct ) ) ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( VP ( VBD violated ) ( NP ( NP ( DT a ) ( NNP House ) ( NN rule ) ) ( VP ( VBG forbidding ) ( NP ( NP ( NN discrimination ) ) ( PP ( IN against ) ( NP ( NNS employees ) ) ) ( PP ( IN on ) ( NP ( NP ( NN account ) ) ( PP ( IN of ) ( NP ( PRP$ their ) ( NN sex ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Acting more than a year after Ms. Bertussi filed a complaint the panel issued a letter of reproval saying Rep. Bates had admitted conduct that violated a House rule forbidding discrimination against employees on account of their sex


( S ( NP-SBJ ( PRP It ) ) ( VP ( VBD ordered ) ( NP-1 ( NNP Rep. ) ( NNP Bates ) ) ( S ( VP ( TO to ) ( VP ( VB write ) ( NP ( NP ( NNS letters ) ) ( PP ( IN of ) ( NP ( NN apology ) ) ) ( PP ( PP ( TO to ) ( NP ( NNP Ms. ) ( NNP Bertussi ) ) ) ( CC and ) ( PP ( TO to ) ( NP ( NP ( DT a ) ( JJ second ) ( NN complainant ) ) ( NP ( NNP Karen ) ( NNP Dryden ) ) ) ) ) ) ) ) ) ) )

It ordered Rep. Bates to write letters of apology to Ms. Bertussi and to a second complainant Karen Dryden


( S ( NP-SBJ ( NNP Rep. ) ( NNP Bates ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( PRP he ) ) ( VP ( MD would ) ( VP ( VB write ) ( NP ( DT the ) ( NNS letters ) ) ( SBAR-ADV ( IN as ) ( S ( VP ( VBN ordered ) ) ) ) ) ) ) ) ) )

Rep. Bates said he would write the letters as ordered


( S ( S-TPC-1 ( NP-SBJ ( PRP I ) ) ( VP ( VBP accept ) ( NP ( NP ( DT the ) ( NN resolution ) ) ( PP ( IN of ) ( NP ( DT the ) ( NN matter ) ) ) ( PP ( IN by ) ( NP ( DT the ) ( NNP Ethics ) ( NNP Committee ) ) ) ) ) ) ( NP-SBJ ( PRP he ) ) ( VP ( VBD said ) ) )

I accept the resolution of the matter by the Ethics Committee he said


( S ( NP-SBJ ( DT The ) ( NN panel ) ) ( ADVP ( RB also ) ) ( VP ( VBD warned ) ( NP ( NNP Rep. ) ( NNP Bates ) ) ( SBAR ( IN that ) ( S ( NP-SBJ ( DT any ) ( JJ further ) ( NNS violations ) ) ( VP ( MD may ) ( VP ( VB result ) ( PP-CLR ( IN in ) ( NP ( DT a ) ( NN recommendation ) ( SBAR ( IN that ) ( S ( NP-SBJ-1 ( JJ disciplinary ) ( NN action ) ) ( VP ( VB be ) ( VP ( VBN considered ) ) ) ) ) ) ) ) ) ) ) ) )

The panel also warned Rep. Bates that any further violations may result in a recommendation that disciplinary action be considered


( S ( CC But ) ( NP-SBJ ( NNP Ms. ) ( NNP Bertussi ) ) ( VP ( VBD asked ) ( SBARQ ( WHNP-1 ( WHNP ( WP Who ) ) ( PP-LOC ( IN in ) ( NP ( PRP$ their ) ( JJ right ) ( NN mind ) ) ) ) ( SQ ( VP ( VBZ is ) ( VP ( VBG going ) ( S ( VP ( TO to ) ( VP ( VB file ) ( NP ( DT another ) ( NN complaint ) ) ( PP-CLR ( IN with ) ( NP ( DT the ) ( NNP Ethics ) ( NNP Committee ) ) ) ) ) ) ) ) ) ) ) )

But Ms. Bertussi asked Who in their right mind is going to file another complaint with the Ethics Committee


( S ( NP-SBJ-1 ( NNP Rep. ) ( NNP Bates ) ) ( VP ( VP ( VBZ has ) ( VP ( ADVP-MNR ( RB publicly ) ) ( VBN begged ) ( PP-CLR ( IN for ) ( NP ( NP ( NN forgiveness ) ) ( PP ( IN from ) ( NP ( NNS voters ) ) ) ) ) ) ) ( CC and ) ( VP ( VBD was ) ( VP ( VBN re-elected ) ( PP ( IN with ) ( NP ( NP ( CD 60 ) ( NN % ) ) ( PP ( IN of ) ( NP ( DT the ) ( NN vote ) ) ) ) ) ( NP-TMP ( JJ last ) ( NNP November ) ) ) ) ) )

Rep. Bates has publicly begged for forgiveness from voters and was re-elected with 60 % of the vote last November


( S ( NP-SBJ-1 ( NNP Coca-Cola ) ( NNP Co. ) ) ( VP ( MD may ) ( VP ( VB be ) ( VP ( RB about ) ( S ( VP ( TO to ) ( VP ( VB intensify ) ( NP ( DT the ) ( NN cola ) ( NNS wars ) ) ) ) ) ) ) ) )

Coca-Cola Co. may be about to intensify the cola wars


( S ( NP-SBJ ( NNP Coke ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( PRP it ) ) ( VP ( MD will ) ( VP ( NN test ) ( VB market ) ( NP ( NP ( DT a ) ( JJ caffeine-free ) ( NN version ) ) ( PP ( IN of ) ( NP ( NP ( PRP$ its ) ( JJ flagship ) ( NN brand ) ) ( NP ( NNP Coca-Cola ) ( NNP Classic ) ) ) ) ) ( PP-TMP ( VBG beginning ) ( NP ( JJ next ) ( NN week ) ) ) ( PP-LOC ( IN in ) ( NP ( NP ( NNP Charlotte ) ) ( NP ( NNP N.C ) ) ) ) ) ) ) ) ) )

Coke said it will test market a caffeine-free version of its flagship brand Coca-Cola Classic beginning next week in Charlotte N.C


( S ( NP-SBJ ( JJ Other ) ( ADJP ( RB as ) ( RB yet ) ( JJ unnamed ) ) ( NNS cities ) ) ( VP ( MD will ) ( VP ( VB follow ) ) ) )

Other as yet unnamed cities will follow


( S ( S-TPC-2 ( SBAR-ADV ( IN If ) ( S ( NP-SBJ ( DT all ) ) ( VP ( VBZ goes ) ( ADVP-MNR ( RB well ) ) ) ) ) ( NP-SBJ-1 ( DT the ) ( NN product ) ) ( VP ( MD will ) ( VP ( VB be ) ( VP ( VBN rolled ) ( PRT ( RP out ) ) ( PP-PRP ( IN for ) ( NP ( JJ national ) ( NNS sales ) ) ) ( NP-TMP ( RB sometime ) ( IN next ) ( NN year ) ) ) ) ) ) ( NP-SBJ ( DT a ) ( NNP Coke ) ( NN spokesman ) ) ( VP ( VBD said ) ) )

If all goes well the product will be rolled out for national sales sometime next year a Coke spokesman said


( S ( PP-TMP ( IN After ) ( NP ( NP ( DT the ) ( NN confusion ) ) ( VP ( VBG surrounding ) ( NP ( NP ( DT the ) ( NN change ) ) ( PP ( IN of ) ( NP ( DT the ) ( NNP Coke ) ( NN formula ) ) ) ) ) ( PP-TMP ( IN in ) ( NP ( CD 1985 ) ) ) ) ) ( NP-SBJ-1 ( NNP Coca-Cola ) ) ( VP ( VBD was ) ( ADJP-PRD ( JJ reluctant ) ( S ( VP ( TO to ) ( VP ( VB clutter ) ( NP ( DT the ) ( NNP Classic ) ( NN name ) ) ( PP ( IN with ) ( NP ( DT a ) ( NN brand ) ( NN extension ) ) ) ) ) ) ) ) )

After the confusion surrounding the change of the Coke formula in 1985 Coca-Cola was reluctant to clutter the Classic name with a brand extension


( S ( CC But ) ( ADVP-TMP ( RB now ) ) ( NP-SBJ-1 ( DT the ) ( NN soft-drink ) ( NN giant ) ) ( VP ( VBZ appears ) ( ADJP-PRD ( JJ willing ) ( S ( VP ( TO to ) ( VP ( VB take ) ( NP ( DT the ) ( NN risk ) ) ) ) ) ) ) )

But now the soft-drink giant appears willing to take the risk


( SINV ( S-TPC-1 ( S ( NP-SBJ ( DT The ) ( NN name ) ( NNP Classic ) ( NNP Coke ) ) ( VP ( VBZ has ) ( NP ( JJ tremendous ) ( NN value ) ) ) ) ( CC and ) ( S ( NP-SBJ ( PRP they ) ) ( VP ( VBP have ) ( RB n't ) ( VP ( VBN merchandised ) ( NP ( DT that ) ( NN name ) ) ( ADVP-TMP ( RB before ) ) ) ) ) ) ( VP ( VBZ says ) ) ( NP-SBJ ( NP ( NNP Jesse ) ( NNP Meyers ) ) ( NP ( NP ( NN publisher ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( NN trade ) ( NN journal ) ) ( NP ( NNP Beverage ) ( NNP Digest ) ) ) ) ) ) )

The name Classic Coke has tremendous value and they have n't merchandised that name before says Jesse Meyers publisher of the trade journal Beverage Digest


( S ( NP-SBJ ( DT The ) ( NNP Coke ) ( NN spokesman ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ-1 ( DT a ) ( JJ caffeine-free ) ( NN Classic ) ) ( VP ( MD should ) ( VP ( VB help ) ( S ( VP ( VB increase ) ( NP ( NP ( NN volume ) ) ( PP ( IN of ) ( NP ( DT the ) ( JJ original ) ( NN brand ) ) ) ) ) ) ) ) ) ) ) )

The Coke spokesman said a caffeine-free Classic should help increase volume of the original brand


( S ( ADVP ( RB Indeed ) ) ( NP-SBJ ( NNS analysts ) ) ( VP ( VBP have ) ( VP ( VBD said ) ( SBAR ( IN that ) ( S ( NP-SBJ ( NP ( DT the ) ( NN absence ) ) ( PP ( IN of ) ( NP ( JJ new ) ( NNS products ) ) ) ) ( PP-LOC ( IN among ) ( NP ( JJ other ) ( NNS factors ) ) ) ( VP ( VBZ has ) ( VP ( VBN limited ) ( NP ( JJ sales ) ( NN growth ) ) ( PP-LOC ( IN throughout ) ( NP ( DT the ) ( NN industry ) ) ) ) ) ) ) ) ) )

Indeed analysts have said that the absence of new products among other factors has limited sales growth throughout the industry


( S ( NP-SBJ ( NNP Coke ) ) ( ADVP-TMP ( RB now ) ) ( VP ( VP ( VBZ leads ) ( NP ( NNP Pepsi ) ) ( PP-LOC ( IN in ) ( NP ( NP ( NN market ) ( NN share ) ) ( PP-LOC ( IN in ) ( NP ( JJ caffeine-free ) ( NN diet ) ( NNS colas ) ) ) ) ) ) ( CC but ) ( VP ( VBZ trails ) ( NP ( NNP Pepsi ) ) ( PP-LOC ( IN in ) ( NP ( NP ( NNS sales ) ) ( PP ( IN of ) ( NP ( JJ caffeine-free ) ( JJ sugared ) ( NNS colas ) ) ) ) ) ) ( PP ( VBG according ) ( PP ( TO to ) ( NP ( NNP Beverage ) ( NNP Digest ) ) ) ) ) )

Coke now leads Pepsi in market share in caffeine-free diet colas but trails Pepsi in sales of caffeine-free sugared colas according to Beverage Digest


( S ( NP-SBJ ( NNP Coke ) ) ( VP ( VBD introduced ) ( NP ( NP ( DT a ) ( JJ caffeine-free ) ( JJ sugared ) ( NN cola ) ) ( PP ( VBN based ) ( PP ( IN on ) ( NP ( PRP$ its ) ( JJ original ) ( NN formula ) ) ) ) ) ( PP-TMP ( IN in ) ( NP ( CD 1983 ) ) ) ) )

Coke introduced a caffeine-free sugared cola based on its original formula in 1983


( S ( NP-SBJ ( PRP It ) ) ( VP ( VBD switched ) ( PP-DIR ( TO to ) ( NP ( NP ( DT a ) ( JJ caffeine-free ) ( NN formula ) ) ( VP ( VBG using ) ( NP ( PRP$ its ) ( JJ new ) ( NNP Coke ) ) ) ) ) ( PP-TMP ( IN in ) ( NP ( CD 1985 ) ) ) ) )

It switched to a caffeine-free formula using its new Coke in 1985


( S ( S-TPC-2 ( NP-SBJ-1 ( NNP Coke ) ) ( VP ( VBZ has ) ( VP ( VBN been ) ( VP ( VBG studying ) ( NP ( NP ( DT the ) ( NN possibility ) ) ( PP ( IN of ) ( S-NOM ( VP ( VBG introducing ) ( NP ( DT a ) ( JJ caffeine-free ) ( NNP Classic ) ) ) ) ) ) ( PP-TMP ( IN for ) ( NP ( DT a ) ( NN year ) ) ) ) ) ) ) ( NP-SBJ ( DT a ) ( NN company ) ( NN spokesman ) ) ( VP ( VBD said ) ) )

Coke has been studying the possibility of introducing a caffeine-free Classic for a year a company spokesman said


( S ( NP-SBJ ( PRP He ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( NP ( JJ large ) ( NNS increases ) ) ( PP-LOC ( IN in ) ( NP ( NP ( NNS sales ) ) ( PP ( IN of ) ( NP ( JJ other ) ( JJ non-caffeine ) ( JJ soft ) ( NNS drinks ) ) ) ) ) ) ( VP ( VBP make ) ( S ( NP-SBJ ( DT the ) ( NN timing ) ) ( ADJP-PRD ( RB right ) ) ( ADVP-TMP ( RB now ) ) ) ) ) ) ) )

He said large increases in sales of other non-caffeine soft drinks make the timing right now


( S ( NP-SBJ ( NNP Olin ) ( NNP Corp. ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( JJ third-quarter ) ( JJ net ) ( NN income ) ) ( VP ( VBD rose ) ( NP-EXT ( CD 26 ) ( NN % ) ) ( PP ( IN on ) ( NP ( NP ( DT the ) ( NN strength ) ) ( PP ( IN of ) ( NP ( PRP$ its ) ( NN chemical ) ( NN business ) ) ) ) ) ) ) ) ) )

Olin Corp. said third-quarter net income rose 26 % on the strength of its chemical business


( S ( NP-SBJ ( NN Net ) ) ( VP ( VBD was ) ( NP-PRD ( NP ( QP ( CD 24 ) ( CD million ) ) ) ( CC or ) ( NP ( NP ( CD 1.15 ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ( ADVP ( RB up ) ( PP ( IN from ) ( NP ( NP ( QP ( CD 19 ) ( CD million ) ) ) ( CC or ) ( NP ( NP ( CD 90 ) ( NNS cents ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ( ADVP-TMP ( NP ( DT a ) ( NN year ) ) ( RBR earlier ) ) ) ) ) )

Net was 24 million or 1.15 a share up from 19 million or 90 cents a share a year earlier


( S ( NP-SBJ ( NNS Sales ) ) ( VP ( VBD rose ) ( NP-EXT ( CD 7.4 ) ( NN % ) ) ( PP-DIR ( TO to ) ( NP ( QP ( CD 580 ) ( CD million ) ) ) ) ( PP-DIR ( IN from ) ( NP ( QP ( CD 540 ) ( CD million ) ) ) ) ) )

Sales rose 7.4 % to 580 million from 540 million


( S ( NP-SBJ ( NNP Olin ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( PRP$ its ) ( NN chemical ) ( NN segment ) ) ( VP ( VBD had ) ( NP ( NP ( NN profit ) ) ( PP ( IN of ) ( NP ( QP ( CD 22 ) ( CD million ) ) ) ) ) ( ADVP ( RB up ) ( PP ( IN from ) ( NP ( QP ( CD 15 ) ( CD million ) ) ) ( ADVP-TMP ( NP ( DT a ) ( NN year ) ) ( RB ago ) ) ) ) ( PP-PRP ( ADVP ( RB largely ) ) ( IN because ) ( IN of ) ( NP ( NP ( NNS gains ) ) ( PP-LOC ( IN in ) ( NP ( NP ( NNS electrochemicals ) ) ( PP ( JJ such ) ( IN as ) ( NP ( JJ caustic ) ( NN soda ) ) ) ) ) ) ) ) ) ) ) )

Olin said its chemical segment had profit of 22 million up from 15 million a year ago largely because of gains in electrochemicals such as caustic soda


( S ( NP-SBJ ( DT The ) ( NN company ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ-1 ( DT the ) ( NNS gains ) ) ( VP ( VBD were ) ( VP ( VBN tied ) ( PP-CLR ( TO to ) ( NP ( NP ( NN volume ) ( NNS increases ) ) ( CC and ) ( NP ( JJR higher ) ( NNS prices ) ) ) ) ) ) ) ) ) )

The company said the gains were tied to volume increases and higher prices


( S ( NP-SBJ ( NP ( DT The ) ( NN market ) ) ( PP ( IN for ) ( NP ( NNS electrochemicals ) ) ) ) ( VP ( VBP include ) ( NP ( DT the ) ( NN paper ) ( NN water-purification ) ( CC and ) ( JJ textile ) ( NNS industries ) ) ) )

The market for electrochemicals include the paper water-purification and textile industries


( S ( NP-SBJ ( DT The ) ( NN chemical ) ( NN segment ) ) ( VP ( VBD had ) ( NP ( NP ( DT a ) ( ADJP ( QP ( CD 6 ) ( CD million ) ) ) ( NN gain ) ) ( PP ( IN on ) ( NP ( NP ( DT the ) ( NN sale ) ) ( PP ( IN of ) ( NP ( NN ammonia ) ( CC and ) ( NN urea ) ( NNS businesses ) ) ) ) ) ( SBAR ( WHNP-2 ( WDT which ) ) ( S ( VP ( VBD was ) ( VP ( VBN offset ) ( PP ( IN by ) ( NP-LGS ( NP ( DT a ) ( ADJP ( QP ( CD 6 ) ( CD million ) ) ) ( NN charge ) ) ( PP ( IN for ) ( NP ( JJ future ) ( JJ environmental ) ( NNS expenditures ) ) ) ) ) ) ) ) ) ) ) )

The chemical segment had a 6 million gain on the sale of ammonia and urea businesses which was offset by a 6 million charge for future environmental expenditures


( S ( NP-SBJ ( NP ( NNP Profit ) ) ( PP-LOC ( IN in ) ( NP ( NP ( NNP Olin ) ( POS 's ) ) ( NN defense ) ( CC and ) ( NN ammunition ) ( NN segment ) ) ) ) ( VP ( VBD rose ) ( PP-DIR ( TO to ) ( NP ( QP ( CD 8 ) ( CD million ) ) ) ) ( PP-DIR ( IN from ) ( NP ( QP ( CD 7 ) ( CD million ) ) ) ) ) )

Profit in Olin 's defense and ammunition segment rose to 8 million from 7 million


( S ( NP-SBJ ( NP ( DT The ) ( NNS metals ) ( NN segment ) ) ( VP ( VBN hurt ) ( PP ( IN by ) ( NP-LGS ( DT a ) ( NN strike ) ) ) ) ) ( VP ( VBD had ) ( NP ( JJ break-even ) ( NNS results ) ) ( PP ( IN against ) ( NP ( NP ( QP ( CD 3 ) ( CD million ) ) ) ( ADVP-TMP ( NP ( DT a ) ( NN year ) ) ( RB ago ) ) ) ) ) )

The metals segment hurt by a strike had break-even results against 3 million a year ago


( S ( PP-TMP ( IN In ) ( NP ( DT the ) ( JJ first ) ( CD nine ) ( NNS months ) ) ) ( NP-SBJ ( NN net ) ) ( VP ( VBD rose ) ( NP-EXT ( CD 21 ) ( NN % ) ) ( PP-DIR ( TO to ) ( NP ( NP ( QP ( CD 93 ) ( CD million ) ) ) ( CC or ) ( NP ( NP ( CD 4.52 ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ) ( PP-DIR ( IN from ) ( NP ( NP ( QP ( CD 77 ) ( CD million ) ) ) ( CC or ) ( NP ( NP ( CD 3.62 ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ( ADVP-TMP ( NP ( DT a ) ( NN year ) ) ( RB ago ) ) ) ) )

In the first nine months net rose 21 % to 93 million or 4.52 a share from 77 million or 3.62 a share a year ago


( S ( NP-SBJ ( NNS Sales ) ) ( VP ( VBD rose ) ( NP-EXT ( CD 13 ) ( NN % ) ) ( PP-DIR ( TO to ) ( NP ( QP ( CD 1.91 ) ( CD billion ) ) ) ) ( PP-DIR ( IN from ) ( NP ( QP ( CD 1.69 ) ( CD billion ) ) ) ) ) )

Sales rose 13 % to 1.91 billion from 1.69 billion


( S ( PP-LOC ( IN In ) ( NP ( NNP New ) ( NNP York ) ( NNP Stock ) ( NNP Exchange ) ( JJ composite ) ( NN trading ) ) ) ( NP-SBJ ( NNP Olin ) ) ( VP ( VBD closed ) ( PP-CLR ( IN at ) ( NP ( NP ( CD 58.50 ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ( ADVP ( RB down ) ( NP ( CD 25 ) ( NNS cents ) ) ) ) )

In New York Stock Exchange composite trading Olin closed at 58.50 a share down 25 cents


( S ( NP-SBJ ( NNP Consolidated ) ( NNP Papers ) ( NNP Inc. ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ-1 ( PRP it ) ) ( VP ( VBZ plans ) ( S ( VP ( TO to ) ( VP ( VB spend ) ( NP ( QP ( CD 495 ) ( CD million ) ) ) ( PP-CLR ( IN on ) ( NP ( JJ new ) ( JJ paper-manufacturing ) ( NN equipment ) ( CC and ) ( NNS facilities ) ) ) ) ) ) ) ) ) ) )

Consolidated Papers Inc. said it plans to spend 495 million on new paper-manufacturing equipment and facilities


( S ( NP-SBJ ( NP ( DT The ) ( NN producer ) ) ( PP ( IN of ) ( NP ( NP ( NN paper ) ) ( VP ( VBN used ) ( PP ( PP-LOC ( IN in ) ( NP ( NNS magazines ) ) ) ( CC and ) ( PP ( IN by ) ( NP-LGS ( JJ commercial ) ( NNS printers ) ) ) ) ) ) ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ-1 ( NP ( VBG spending ) ) ( PP ( IN on ) ( NP ( DT the ) ( NN expansion ) ) ) ) ( VP ( VBZ is ) ( VP ( VBN planned ) ( S ( VP ( TO to ) ( VP ( VB begin ) ( PP-TMP ( IN in ) ( NP ( NP ( DT the ) ( JJ first ) ( NN quarter ) ) ( PP ( IN of ) ( NP ( CD 1990 ) ) ) ) ) ) ) ) ) ) ) ) ) )

The producer of paper used in magazines and by commercial printers said spending on the expansion is planned to begin in the first quarter of 1990


( S ( NP-SBJ ( DT The ) ( NN expansion ) ) ( VP ( VBZ is ) ( ADJP-PRD ( JJ subject ) ( PP ( TO to ) ( NP ( NP ( NN approval ) ) ( PP ( IN by ) ( NP ( UCP ( JJ federal ) ( CC and ) ( NNP Wisconsin ) ) ( JJ environmental ) ( NNS regulators ) ) ) ) ) ) ) )

The expansion is subject to approval by federal and Wisconsin environmental regulators


( S ( NP-SBJ-2 ( ADJP ( JJ South ) ( JJ Korean ) ) ( NNP President ) ( NNP Roh ) ( NNP Tae ) ( NNP Woo ) ) ( S-ADV ( VP ( VBG brushing ) ( PP-CLR ( RP aside ) ( NP ( NNS suggestions ) ( SBAR ( IN that ) ( S ( NP-SBJ-1 ( DT the ) ( NN won ) ) ( VP ( VB be ) ( VP ( VBN revalued ) ( ADVP-TMP ( RB again ) ) ) ) ) ) ) ) ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( NP ( NP ( DT the ) ( NN currency ) ( POS 's ) ) ( JJ current ) ( NN level ) ) ( PP ( IN against ) ( NP ( DT the ) ( NN dollar ) ) ) ) ( VP ( VBZ is ) ( ADJP-PRD ( JJ appropriate ) ) ) ) ) ) )

South Korean President Roh Tae Woo brushing aside suggestions that the won be revalued again said the currency 's current level against the dollar is appropriate


( S ( NP-SBJ ( NP ( PRP$ His ) ( NNS comments ) ) ( VP ( VBN made ) ( PP ( IN in ) ( NP ( NP ( NN response ) ) ( PP ( TO to ) ( NP ( NP ( NNS reporters ) ( POS ' ) ) ( NNS questions ) ) ) ) ) ( PP-LOC ( IN at ) ( NP ( NP ( DT the ) ( NNP National ) ( NNP Press ) ( NNP Club ) ) ( ADVP-LOC ( RB here ) ) ) ) ) ) ( VP ( VBD signaled ) ( SBAR ( IN that ) ( S ( NP-SBJ ( NNP Seoul ) ) ( VP ( VBZ is ) ( VP ( VBG resisting ) ( NP ( NP ( NNP U.S. ) ( NN pressure ) ) ( PP ( IN for ) ( NP ( NP ( DT a ) ( JJR further ) ( NN rise ) ) ( PP-LOC ( IN in ) ( NP ( NP ( DT the ) ( NN currency ) ( POS 's ) ) ( NN value ) ) ) ) ) ) ) ) ) ) ) )

His comments made in response to reporters ' questions at the National Press Club here signaled that Seoul is resisting U.S. pressure for a further rise in the currency 's value


( S ( NP-SBJ ( DT The ) ( NNP U.S. ) ) ( VP ( VBZ wants ) ( NP ( DT a ) ( JJR higher ) ( NN won ) ) ( S-PRP ( VP ( TO to ) ( VP ( VP ( VB make ) ( S ( NP-SBJ ( NP ( NNP South ) ( NNP Korea ) ( POS 's ) ) ( NNS exports ) ) ( ADJP-PRD ( RBR more ) ( JJ expensive ) ) ) ) ( CC and ) ( VP ( VB help ) ( S ( VP ( VB trim ) ( NP ( NP ( NNP Seoul ) ( POS 's ) ) ( NN trade ) ( NN surplus ) ) ) ) ) ) ) ) ) )

The U.S. wants a higher won to make South Korea 's exports more expensive and help trim Seoul 's trade surplus


( S ( NP-SBJ-1 ( JJ Many ) ( ADJP ( JJ South ) ( JJ Korean ) ) ( NN business ) ( NNS people ) ) ( VP ( VBP want ) ( NP ( DT a ) ( NN devaluation ) ) ( ADVP ( RB instead ) ) ( S-ADV ( VP ( VBG arguing ) ( SBAR ( IN that ) ( S ( NP-SBJ ( NP ( DT the ) ( VBN won ) ( POS 's ) ) ( JJ recent ) ( NNS gains ) ) ( ADVP-TMP ( RB already ) ) ( VP ( VBP have ) ( VP ( VBN weakened ) ( NP ( NP ( DT the ) ( NN country ) ( POS 's ) ) ( NN export ) ( NN performance ) ) ) ) ) ) ) ) ) )

Many South Korean business people want a devaluation instead arguing that the won 's recent gains already have weakened the country 's export performance


( S ( NP-SBJ ( NNP Mr. ) ( NNP Roh ) ) ( ADVP ( RB also ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( NNP South ) ( NNP Korea ) ) ( VP ( VBZ is ) ( VP ( VBG taking ) ( NP ( NP ( NNS steps ) ) ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( VP ( MD would ) ( VP ( VB free ) ( NP-2 ( DT the ) ( NN won ) ) ( S-CLR ( VP ( TO to ) ( VP ( VB respond ) ( PP-CLR ( TO to ) ( NP ( NN market ) ( NNS forces ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Mr. Roh also said South Korea is taking steps that would free the won to respond to market forces


( S ( NP-SBJ ( NNP Seoul ) ) ( VP ( VBZ has ) ( VP ( VBN pointed ) ( PP-CLR ( TO to ) ( NP ( NP ( PRP$ its ) ( NN lack ) ) ( PP ( IN of ) ( NP ( DT a ) ( JJ foreign ) ( NN exchange ) ( NN market ) ) ) ) ) ( PP-CLR ( IN as ) ( NP ( NP ( CD one ) ( NN reason ) ) ( SBAR ( S ( NP-SBJ ( NP ( DT the ) ( NN won ) ( POS 's ) ) ( NN value ) ) ( VP ( VBZ remains ) ( ADJP-PRD ( RB heavily ) ( VBN controlled ) ) ) ) ) ) ) ) ) )

Seoul has pointed to its lack of a foreign exchange market as one reason the won 's value remains heavily controlled


( S ( NP-SBJ ( NNP Mr. ) ( NNP Roh ) ) ( VP ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ-1 ( NP ( DT a ) ( NNP U.S. ) ( NN demand ) ) ( PP ( IN for ) ( NP ( NP ( DT the ) ( NN removal ) ) ( PP ( IN of ) ( NP ( NP ( JJ South ) ( JJ Korean ) ( NN import ) ( NNS quotas ) ) ( PP-LOC ( IN on ) ( NP ( NN beef ) ) ) ) ) ) ) ) ( VP ( MD will ) ( VP ( VB be ) ( VP ( VBN resolved ) ( ADVP-MNR ( RB satisfactorily ) ) ) ) ) ) ) ) ( CC but ) ( VP ( VBD gave ) ( NP ( DT no ) ( NN hint ) ( SBAR ( WHADVP-2 ( WRB when ) ) ( S ( NP-SBJ ( DT that ) ) ( VP ( MD will ) ( VP ( VB happen ) ) ) ) ) ) ) ) )

Mr. Roh said a U.S. demand for the removal of South Korean import quotas on beef will be resolved satisfactorily but gave no hint when that will happen


( S ( S-ADV ( VP ( VBG Speaking ) ( PP-CLR ( TO to ) ( NP ( NP ( DT a ) ( JJ joint ) ( NN meeting ) ) ( PP ( IN of ) ( NP ( NNP Congress ) ) ) ) ) ( ADVP-TMP ( RBR earlier ) ) ) ) ( NP-SBJ-1 ( PRP he ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ-2 ( NNP South ) ( NNP Korea ) ) ( VP ( MD ca ) ( RB n't ) ( VP ( VB move ) ( ADVP-MNR ( RB quickly ) ) ( PP ( IN on ) ( NP ( JJ such ) ( JJ agricultural ) ( NN trade ) ( NNS issues ) ) ) ( PP ( IN without ) ( S-NOM ( VP ( VBG causing ) ( NP ( ADJP ( JJ political ) ( CC and ) ( JJ social ) ) ( NN trauma ) ) ) ) ) ) ) ) ) ) )

Speaking to a joint meeting of Congress earlier he said South Korea ca n't move quickly on such agricultural trade issues without causing political and social trauma


( S ( NP-SBJ ( NP ( NNP Egon ) ( NNP Krenz ) ) ( NP ( NP ( DT the ) ( NN man ) ) ( VP ( VBN tapped ) ( NP-TMP ( NN yesterday ) ) ( S-CLR ( VP ( TO to ) ( VP ( VB become ) ( NP-PRD ( NP ( NNP East ) ( NNP Germany ) ( POS 's ) ) ( JJ new ) ( NN leader ) ) ) ) ) ) ) ) ( VP ( VBZ faces ) ( NP ( NP ( NP ( DT the ) ( JJ same ) ( NN task ) ) ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( VP ( VBZ has ) ( VP ( VBN fallen ) ( PP-CLR ( TO to ) ( NP ( VBG neighboring ) ( JJ socialist ) ( NNS colleagues ) ) ) ) ) ) ) ) ( S-NOM ( VP ( VBG reforming ) ( NP ( NP ( DT a ) ( NN country ) ) ( PP-LOC ( IN in ) ( NP ( NN crisis ) ) ) ) ) ) ) ) )

Egon Krenz the man tapped yesterday to become East Germany 's new leader faces the same task that has fallen to neighboring socialist colleagues reforming a country in crisis


( S ( CC But ) ( PP ( IN unlike ) ( NP ( NP ( DT the ) ( JJ other ) ( JJ new ) ( NNS leaders ) ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( NNP East ) ( NNP Bloc ) ) ) ) ) ( NP-SBJ ( NNP Mr. ) ( NNP Krenz ) ) ( VP ( MD will ) ( VP ( VB face ) ( NP ( NP ( NP ( DT an ) ( JJ immediate ) ( NN threat ) ) ( PP ( TO to ) ( NP ( NP ( PRP$ his ) ( NN nation ) ( POS 's ) ) ( JJ very ) ( NN existence ) ) ) ) ( NP ( JJ German ) ( NN reunification ) ) ) ) ) )

But unlike the other new leaders in the East Bloc Mr. Krenz will face an immediate threat to his nation 's very existence German reunification


( S ( NP-SBJ-1 ( NP ( NNP Mr. ) ( NNP Krenz ) ) ( NP ( NN age ) ( CD 52 ) ) ) ( VP ( VBZ is ) ( VP ( VBN known ) ( PP-CLR ( IN as ) ( NP ( NP ( DT an ) ( JJ old-guard ) ( NN ironfist ) ) ( NP ( NP ( NN one ) ) ( ADJP ( JJ likely ) ( S ( VP ( TO to ) ( VP ( VB continue ) ( NP ( NP ( DT the ) ( NN method ) ) ( PP ( IN of ) ( S-NOM ( VP ( VBG running ) ( NP ( DT a ) ( NN country ) ) ) ) ) ( SBAR ( WHNP-2 ( WDT that ) ) ( S ( NP-SBJ ( DT the ) ( NNP Berlin ) ( NNP Wall ) ) ( VP ( VBD made ) ( S ( ADJP-PRD ( JJ famous ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Mr. Krenz age 52 is known as an old-guard ironfist one likely to continue the method of running a country that the Berlin Wall made famous


( S ( SBAR-ADV ( RB Even ) ( IN if ) ( S ( NP-SBJ-1 ( PRP he ) ) ( VP ( VBD were ) ( S ( VP ( TO to ) ( VP ( VP ( VB change ) ( NP ( PRP$ his ) ( NNS stripes ) ) ) ( CC and ) ( VP ( VB become ) ( NP-PRD ( DT another ) ( NNP Milton ) ( NNP Friedman ) ) ) ) ) ) ) ) ) ( ADVP ( RB however ) ) ( NP-SBJ-2 ( PRP he ) ) ( VP ( MD would ) ( ADVP ( RB still ) ) ( VP ( VB stand ) ( NP ( NP ( DT a ) ( JJ good ) ( NN chance ) ) ( PP ( IN of ) ( S-NOM ( VP ( VBG losing ) ( NP ( DT a ) ( NN country ) ) ) ) ) ) ) ) )

Even if he were to change his stripes and become another Milton Friedman however he would still stand a good chance of losing a country


( S ( NP-SBJ ( NNP Mr. ) ( NNP Krenz ) ) ( ADVP ( RB almost ) ( RB certainly ) ) ( VP ( MD will ) ( VP ( VB be ) ( NP-PRD ( NP ( DT a ) ( JJR younger ) ( NN version ) ) ( PP ( IN of ) ( NP ( NP ( NNP Erich ) ( NNP Honecker ) ) ( NP ( NP ( PRP$ his ) ( JJ rigid ) ( NN predecessor ) ) ( PP ( IN as ) ( NP ( NN dictator ) ) ) ) ) ) ) ) ) )

Mr. Krenz almost certainly will be a younger version of Erich Honecker his rigid predecessor as dictator


( S ( S ( NP-SBJ ( NNP Mr. ) ( NNP Krenz ) ) ( VP ( VBZ has ) ( VP ( VBN followed ) ( NP ( NP ( RB much ) ( DT the ) ( JJ same ) ( NN career ) ( NN path ) ) ( PP ( IN as ) ( NP ( NNP Mr. ) ( NNP Honecker ) ) ) ) ) ) ) ( S ( NP-SBJ-2 ( DT Both ) ) ( VP ( VBD spent ) ( NP ( NNS years ) ) ( S-CLR ( VP ( VBG overseeing ) ( NP ( NP ( DT the ) ( NNP Freie ) ( NNP Deutsche ) ( NNP Jugend ) ) ( NP ( NP ( DT the ) ( NN youth ) ( NN group ) ) ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( VP ( VBZ is ) ( NP-PRD ( NP ( NP ( DT the ) ( JJ communist ) ( NN regime ) ( POS 's ) ) ( JJ principal ) ( NN tool ) ) ( PP ( IN for ) ( S-NOM ( VP ( VBG stamping ) ( NP ( JJ young ) ( NNPS Germans ) ) ( PP-CLR ( IN into ) ( NP ( JJ socialist ) ( NNS citizens ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Mr. Krenz has followed much the same career path as Mr. Honecker Both spent years overseeing the Freie Deutsche Jugend the youth group that is the communist regime 's principal tool for stamping young Germans into socialist citizens


( S ( ADVP-TMP ( RBR More ) ( RB recently ) ) ( NP-SBJ ( NNP Mr. ) ( NNP Krenz ) ) ( VP ( VP ( VBZ has ) ( VP ( VBN been ) ( PP-PRD ( IN in ) ( NP ( NP ( NN charge ) ) ( PP ( IN of ) ( NP ( JJ East ) ( JJ German ) ( NN security ) ) ) ) ) ) ) ( CC and ) ( VP ( VBZ is ) ( NP-PRD ( NP ( DT the ) ( JJS youngest ) ( NN member ) ) ( PP ( IN of ) ( NP ( DT the ) ( VBG ruling ) ( NNP Politburo ) ) ) ) ) ) )

More recently Mr. Krenz has been in charge of East German security and is the youngest member of the ruling Politburo


( S ( S-ADV ( VP ( VBN Faced ) ( PP-CLR ( IN with ) ( NP ( DT another ) ( NNP Mr. ) ( NNP Honecker ) ) ) ) ) ( NP-SBJ-1 ( NP ( ADJP ( RB so ) ( JJ many ) ) ( JJ despairing ) ( NNP East ) ( NNPS Germans ) ) ) ( VP ( VBP are ) ( ADJP-PRD ( JJ likely ) ( S ( VP ( TO to ) ( VP ( VB flee ) ) ) ) ) ( SBAR-2 ( IN that ) ( S ( NP-SBJ ( DT the ) ( CD two ) ( JJ German ) ( NNS peoples ) ) ( VP ( MD will ) ( VP ( VB get ) ( NP ( PRP$ their ) ( NN reunification ) ) ( ADVP ( FW de ) ( FW facto ) ) ( PP-LOC ( IN on ) ( NP ( JJ West ) ( JJ German ) ( NN ground ) ) ) ) ) ) ) ) )

Faced with another Mr. Honecker so many despairing East Germans are likely to flee that the two German peoples will get their reunification de facto on West German ground


( S ( CC But ) ( SBAR-ADV ( IN if ) ( S ( NP-SBJ ( NP ( NNP East ) ( NNP Germany ) ( POS 's ) ) ( JJ arthritic ) ( NNP Politburo ) ) ( VP ( VBZ does ) ( VP ( VB loosen ) ( PRT ( RP up ) ) ( ADVP ( RB enough ) ( S ( VP ( TO to ) ( VP ( VB permit ) ( S ( NP-SBJ ( NNP Mr. ) ( NNP Krenz ) ) ( VP ( TO to ) ( VP ( VB make ) ( NP ( NP ( JJ serious ) ( NNS efforts ) ) ( PP ( IN at ) ( NP ( NN reform ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ( NP-SBJ ( PRP he ) ) ( VP ( MD will ) ( VP ( VB face ) ( NP ( NP ( DT a ) ( NN challenge ) ) ( ADJP ( RB just ) ( IN as ) ( JJ fundamental ) ) ) ) ) )

But if East Germany 's arthritic Politburo does loosen up enough to permit Mr. Krenz to make serious efforts at reform he will face a challenge just as fundamental


( S ( S-NOM-SBJ ( VP ( VBG Abandoning ) ( NP ( NN socialism ) ) ) ) ( VP ( NNS means ) ( S ( VP ( VBG abandoning ) ( NP ( NP ( NP ( NP ( DT the ) ( JJ East ) ( JJ German ) ( NN state ) ( POS 's ) ) ( NN reason ) ) ( PP ( IN for ) ( NP ( NN existence ) ) ) ) ( CC and ) ( PP ( IN with ) ( NP ( PRP it ) ) ) ( NP ( NP ( DT the ) ( NN justification ) ) ( PP ( IN for ) ( NP ( NP ( PRP$ its ) ( NNS watchdogs ) ) ( CC and ) ( NP ( PRP$ its ) ( NNP Wall ) ) ) ) ) ) ) ) ) )

Abandoning socialism means abandoning the East German state 's reason for existence and with it the justification for its watchdogs and its Wall


( S ( PP-LOC ( IN In ) ( NP ( DT this ) ( NN scenario ) ) ) ( NP-SBJ ( NP ( PRP it ) ) ) ( VP ( VBZ 's ) ( ADJP-PRD ( JJ hard ) ) ( S-2 ( VP ( TO to ) ( VP ( VB imagine ) ( SBAR ( IN that ) ( S ( NP-SBJ-1 ( NP ( DT a ) ( JJ pale ) ( NN imitation ) ) ( PP ( IN of ) ( NP ( DT the ) ( NNP Federal ) ( NNP Republic ) ) ) ) ( VP ( MD could ) ( VP ( VB avoid ) ( S ( VP ( VBG being ) ( VP ( VBD pulled ) ( PP-DIR ( IN into ) ( NP ( NP ( NP ( DT some ) ( NN kind ) ) ( PP ( IN of ) ( NP ( NN tie ) ) ) ) ( ADJP ( JJ economic ) ( JJ federal ) ( CC or ) ( JJR stronger ) ) ( PP ( IN with ) ( NP ( NNP West ) ( NNP Germany ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

In this scenario it 's hard to imagine that a pale imitation of the Federal Republic could avoid being pulled into some kind of tie economic federal or stronger with West Germany


( S ( NP-SBJ-2 ( NNP Mr. ) ( NNP Krenz ) ) ( VP ( MD may ) ( VP ( VB need ) ( NP ( NP ( DT a ) ( NN bit ) ) ( PP ( IN of ) ( NP ( NN time ) ) ) ) ( S-CLR ( VP ( TO to ) ( VP ( VB consolidate ) ( NP ( PRP$ his ) ( NN empire ) ) ( SBAR-ADV ( WHNP-1 ( WDT which ) ) ( S ( VP ( MD would ) ( VP ( VB do ) ( NP ( NP ( DT a ) ( NN lot ) ) ( SBAR ( S ( VP ( TO to ) ( VP ( VB promote ) ( NP ( NNP Reunification ) ( NNP Scenario ) ( CD One ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Mr. Krenz may need a bit of time to consolidate his empire which would do a lot to promote Reunification Scenario One


( S ( NP-SBJ-1 ( NP ( NNP Cartoonists ) ) ( PP-LOC ( IN in ) ( NP ( NNP West ) ( NNP Germany ) ) ) ) ( VP ( VBP have ) ( ADVP-TMP ( RB already ) ) ( VP ( VBN mocked ) ( NP ( DT the ) ( NN exodus ) ) ( PP-MNR ( IN by ) ( S-NOM ( VP ( VBG imagining ) ( NP ( NP ( DT an ) ( NN advertisement ) ) ( VP ( VBN placed ) ( PP ( IN by ) ( NP-LGS ( NNP Mr. ) ( NNP Honecker ) ) ) ) ( SINV ( VP ( VBN Wanted ) ) ( NP-SBJ-2 ( CD one ) ( NN people ) ) ) ) ) ) ) ) ) )

Cartoonists in West Germany have already mocked the exodus by imagining an advertisement placed by Mr. Honecker Wanted one people


( S ( NP-SBJ-1 ( NP ( DT The ) ( ADJP ( JJ West ) ( JJ German ) ) ( NNS embassies ) ) ( PP ( IN in ) ( NP ( NNP Prague ) ( NNP Budapest ) ( CC and ) ( NNP Warsaw ) ) ) ) ( VP ( VBP are ) ( VP ( VBG continuing ) ( S ( VP ( TO to ) ( VP ( VB find ) ( NP ( NNS refugees ) ) ( PP-LOC-CLR ( IN at ) ( NP ( PRP$ their ) ( NNS gates ) ) ) ) ) ) ) ) )

The West German embassies in Prague Budapest and Warsaw are continuing to find refugees at their gates


( S ( PP ( IN Of ) ( NP ( NN course ) ) ) ( NP-SBJ-1 ( NNP East ) ( NNP Germany ) ) ( S-ADV ( ADJP-PRD ( JJ true ) ( PP ( TO to ) ( NP ( PRP$ its ) ( NN tradition ) ) ) ) ) ( VP ( MD could ) ( VP ( VB tighten ) ( NP ( PRP$ its ) ( NNS borders ) ) ( ADVP ( CC yet ) ( RBR further ) ) ) ) )

Of course East Germany true to its tradition could tighten its borders yet further


( S ( NP-SBJ ( NP ( CD Two ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( JJ last ) ( NNS gestures ) ) ( PP ( IN of ) ( NP ( DT the ) ( NNP Honecker ) ( NN regime ) ) ) ) ) ) ( VP ( VBD were ) ( S-PRD ( VP ( TO to ) ( VP ( VP ( VB close ) ( NP ( NP ( DT the ) ( NN border ) ) ( PP ( TO to ) ( NP ( NNP Czechoslovakia ) ) ) ) ) ( CC and ) ( VP ( VB install ) ( NP ( NN halogen ) ( NNS lights ) ) ( PP-LOC ( IN in ) ( NP ( NP ( DT some ) ( NNS spots ) ) ( PP-LOC ( IN along ) ( NP ( DT the ) ( NN frontier ) ) ) ) ) ) ) ) ) ) )

Two of the last gestures of the Honecker regime were to close the border to Czechoslovakia and install halogen lights in some spots along the frontier


( S ( CC But ) ( PP ( IN with ) ( NP ( NP ( JJ world-wide ) ( NN opinion ) ) ( PRN ( PP-LOC ( ADVP ( RB even ) ) ( ADVP ( RB apparently ) ) ( IN in ) ( NP ( NNP Moscow ) ) ) ) ( PP ( IN against ) ( NP ( NNP East ) ( NNP Germany ) ) ) ) ) ( NP-SBJ-1 ( DT the ) ( NN country ) ) ( VP ( MD would ) ( VP ( VB have ) ( S ( VP ( TO to ) ( VP ( VB turn ) ( NP ( PRP itself ) ) ( PP-CLR ( IN into ) ( NP ( DT an ) ( NNP Albania ) ) ) ) ) ) ( S-PRP ( VP ( TO to ) ( VP ( VB clamp ) ( PRT ( RP down ) ) ( ADVP ( RB further ) ) ( PP-CLR ( IN on ) ( NP ( NNS refugees ) ) ) ) ) ) ) ) )

But with world-wide opinion even apparently in Moscow against East Germany the country would have to turn itself into an Albania to clamp down further on refugees


( S ( NP-SBJ ( EX There ) ) ( VP ( VBP have ) ( VP ( VBN been ) ( NP-PRD ( NP ( DT some ) ( NNS reports ) ( SBAR ( IN that ) ( S ( NP-SBJ-2 ( NNP Mr. ) ( NNP Krenz ) ) ( VP ( VBZ is ) ( VP ( VBG moving ) ( S ( VP ( TO to ) ( VP ( VB soften ) ( NP ( PRP$ his ) ( NN reputation ) ) ) ) ) ) ) ) ) ) ( RB notably ) ( NP ( VBZ rumors ) ( SBAR ( IN that ) ( S-CLF ( NP-SBJ ( PRP it ) ) ( VP ( VBD was ) ( NP-PRD ( PRP he ) ) ( SBAR ( WHNP-1 ( WP who ) ) ( S ( VP ( VBD kept ) ( NP ( NP ( NNP East ) ( NNP Germany ) ( POS 's ) ) ( NN state ) ( NN police ) ) ( PP-CLR ( IN off ) ( NP ( NP ( NNS protesters ) ( POS ' ) ) ( NNS backs ) ) ) ( PP-LOC ( IN at ) ( NP ( NP ( DT the ) ( NN country ) ( POS 's ) ) ( JJ dismal ) ( JJ 40th ) ( NN anniversary ) ( NNS celebrations ) ) ) ( NP-TMP ( RBR earlier ) ( DT this ) ( NN month ) ) ) ) ) ) ) ) ) ) ) ) )

There have been some reports that Mr. Krenz is moving to soften his reputation notably rumors that it was he who kept East Germany 's state police off protesters ' backs at the country 's dismal 40th anniversary celebrations earlier this month


( S ( CC But ) ( SBAR-ADV ( RB even ) ( IN if ) ( S ( NP-SBJ ( PRP he ) ) ( VP ( VBZ effects ) ( NP ( DT a ) ( JJ Hyde-to-Jekyll ) ( NN transformation ) ) ) ) ) ( NP-SBJ ( PRP he ) ) ( VP ( MD will ) ( VP ( VB face ) ( NP ( NP ( DT a ) ( JJ serious ) ( JJ ideological ) ( NN crisis ) ) ( CC and ) ( NP ( NNP Reunification ) ( NNP Scenario ) ( CD Two ) ) ) ) ) )

But even if he effects a Hyde-to-Jekyll transformation he will face a serious ideological crisis and Reunification Scenario Two


( S ( NP-SBJ ( DT The ) ( NN problem ) ) ( VP ( VBZ is ) ( NP-PRD ( NP ( NP ( NN one ) ) ( SBAR ( WHNP-1 ( IN that ) ) ( S ( NP-SBJ ( NNP East ) ( NNP Germany ) ) ( VP ( NNS shares ) ( PP-CLR ( IN with ) ( NP ( NP ( JJ other ) ( NNS half-states ) ) ( PP ( JJ such ) ( IN as ) ( NP ( NNP North ) ( NNP Korea ) ) ) ) ) ) ) ) ) ( CC but ) ( NP ( NP ( NN one ) ) ( SBAR ( S ( NP-SBJ ( PRP it ) ) ( VP ( MD must ) ( VP ( VB shoulder ) ( ADVP ( RB alone ) ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( NNP East ) ( NNP Bloc ) ) ) ) ) ) ) ) ) ) )

The problem is one that East Germany shares with other half-states such as North Korea but one it must shoulder alone in the East Bloc


( S ( S ( SBAR-TMP ( WHADVP-1 ( WRB When ) ) ( S ( NP-SBJ-2 ( NNP Poland ) ) ( VP ( VBZ moves ) ( S ( VP ( TO to ) ( VP ( VB reform ) ) ) ) ) ) ) ( NP-SBJ ( PRP it ) ) ( VP ( MD can ) ( ADVP ( IN at ) ( JJS least ) ) ( VP ( VB lean ) ( PP-CLR ( IN on ) ( NP ( PRP$ its ) ( NN past ) ) ) ) ) ) ( S ( SBAR-ADV ( WHADJP-3 ( RB However ) ( JJ flawed ) ( CC and ) ( JJ short-lived ) ) ( S ( NP-SBJ ( NP ( NNP Joseph ) ( NNP Pilsudski ) ( POS 's ) ) ( JJ interwar ) ( NN republic ) ) ) ) ( NP-SBJ ( PRP it ) ) ( VP ( VBD was ) ( NP-PRD ( DT a ) ( JJ nonsocialist ) ( NN democracy ) ) ) ) )

When Poland moves to reform it can at least lean on its past However flawed and short-lived Joseph Pilsudski 's interwar republic it was a nonsocialist democracy


( S ( NP-SBJ ( JJ Czech ) ( NNS reformers ) ) ( VP ( MD can ) ( VP ( VB recall ) ( NP ( NP ( DT the ) ( JJ Wilsonian ) ( NNS ideals ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( JJ same ) ( NN period ) ) ( PP-LOC ( IN in ) ( NP ( PRP$ their ) ( NN country ) ) ) ) ) ) ) ) )

Czech reformers can recall the Wilsonian ideals of the same period in their country


( S ( NP-SBJ ( RB Even ) ( DT the ) ( NNP Soviet ) ( NNP Union ) ) ( VP ( VBZ has ) ( NP ( NP ( NNP Peter ) ( DT the ) ( NNP Great ) ) ( SBAR ( S ( VP ( TO to ) ( VP ( VB rediscover ) ( SBAR-ADV ( SINV ( MD should ) ( NP-SBJ-2 ( PRP it ) ) ( VP ( VB choose ) ( S ( VP ( TO to ) ) ) ) ) ) ) ) ) ) ) ) )

Even the Soviet Union has Peter the Great to rediscover should it choose to


( S ( CC But ) ( NP-SBJ ( NNP East ) ( NNP Germany ) ) ( VP ( VBZ is ) ( ADVP ( RB merely ) ) ( NP-PRD ( NP ( DT the ) ( NN land ) ) ( PP ( IN of ) ( NP ( ADJP ( RB truly ) ( VBG existing ) ) ( NN socialism ) ) ) ) ) )

But East Germany is merely the land of truly existing socialism


( S ( PP ( IN Beyond ) ( NP ( DT that ) ) ) ( NP-SBJ-1 ( PRP it ) ) ( VP ( VBZ has ) ( S ( VP ( TO to ) ( VP ( VB compete ) ( PP-CLR ( IN with ) ( NP ( NNP West ) ( NNP Germany ) ) ) ( PP-PRP ( IN for ) ( NP ( NP ( DT a ) ( NN claim ) ) ( PP ( TO to ) ( NP ( DT the ) ( JJ German ) ( NN identity ) ) ) ) ) ) ) ) ) )

Beyond that it has to compete with West Germany for a claim to the German identity


( S ( PP-TMP ( IN Up ) ( PP ( TO to ) ( NP ( RB now ) ) ) ) ( NP-SBJ ( NP ( DT the ) ( JJ main ) ( NN weapon ) ) ( PP ( IN of ) ( NP ( DT the ) ( NN worker ) ( CC and ) ( NN peasant ) ( NN state ) ) ) ) ( VP ( VBZ has ) ( VP ( VBN been ) ( NP-PRD ( NP ( DT the ) ( NN ideology ) ) ( PP ( IN of ) ( NP ( NN socialism ) ) ) ) ) ) )

Up to now the main weapon of the worker and peasant state has been the ideology of socialism


( S ( PP ( IN With ) ( NP ( NP ( NN talk ) ) ( NP-TMP ( NN today ) ) ( PP ( IN of ) ( NP ( NP ( DT a ) ( JJ second ) ( JJ economic ) ( NN miracle ) ) ( PP-LOC ( IN in ) ( NP ( NNP West ) ( NNP Germany ) ) ) ) ) ) ) ( NP-SBJ-1 ( NNP East ) ( NNP Germany ) ) ( ADVP-TMP ( RB no ) ( RBR longer ) ) ( VP ( MD can ) ( VP ( VB content ) ( NP ( PRP itself ) ) ( PP-CLR ( IN with ) ( S-NOM ( VP ( VBG being ) ( NP-PRD ( NP ( DT the ) ( JJ economic ) ( NN star ) ) ( PP-LOC ( IN in ) ( NP ( DT a ) ( JJ loser ) ( NN league ) ) ) ) ) ) ) ) ) )

With talk today of a second economic miracle in West Germany East Germany no longer can content itself with being the economic star in a loser league


( S ( PP ( IN Without ) ( NP ( NP ( NP ( NNP Moscow ) ( POS 's ) ) ( NN military ) ( CC and ) ( NN party ) ) ( PP-LOC ( IN behind ) ( NP ( PRP it ) ) ) ) ) ( NP-SBJ ( NNP East ) ( NNP Germany ) ) ( VP ( VBZ runs ) ( NP ( NP ( DT the ) ( NN risk ) ) ( PP ( IN of ) ( NP ( VBG disintegrating ) ) ) ) ) )

Without Moscow 's military and party behind it East Germany runs the risk of disintegrating


( S ( SBAR-ADV ( IN If ) ( S ( NP-SBJ ( PRP it ) ) ( VP ( VP ( VBZ goes ) ( ADJP-PRD ( JJ capitalist ) ) ) ( CC and ) ( VP ( VBZ increases ) ( NP ( NP ( NN trade ) ) ( PP ( IN with ) ( NP ( NNP West ) ( NNP Germany ) ) ) ) ) ) ) ) ( NP-SBJ ( PRP it ) ) ( VP ( MD will ) ( VP ( VB convert ) ( NP ( PRP itself ) ) ( ADVP-MNR ( RB willy-nilly ) ) ( PP-CLR ( IN into ) ( NP ( NP ( DT an ) ( JJ economic ) ( NN annex ) ) ( PP ( IN of ) ( NP ( DT the ) ( NNP Federal ) ( NNP Republic ) ) ) ) ) ) ) )

If it goes capitalist and increases trade with West Germany it will convert itself willy-nilly into an economic annex of the Federal Republic


( S ( S ( NP-SBJ ( EX There ) ) ( VP ( VBZ 's ) ( NP-PRD ( DT a ) ( JJ certain ) ( JJ cruel ) ( NN logic ) ) ( PP-CLR ( IN at ) ( NP ( NN work ) ) ) ( ADVP-LOC ( RB here ) ) ) ) ( S ( NP-SBJ ( NP ( PRP It ) ) ) ( VP ( VBZ 's ) ( ADJP-PRD ( RB particularly ) ( JJ appropriate ) ( CC and ) ( JJ tragic ) ) ( SBAR-3 ( IN that ) ( S ( NP-SBJ ( NP ( DT the ) ( NN land ) ) ( SBAR ( WHNP-4 ( WDT that ) ) ( S ( VP ( VBD produced ) ( NP ( NNP Karl ) ( NNP Marx ) ) ) ) ) ) ( VP ( MD should ) ( VP ( VB prove ) ( NP-PRD ( NP ( NN socialism ) ( POS 's ) ) ( NN failure ) ) ( PP-LOC ( IN in ) ( NP ( NP ( DT an ) ( NN experiment ) ) ( SBAR ( WHNP-5 ( WDT that ) ) ( S ( VP ( VBZ uses ) ( NP ( PRP$ its ) ( JJ own ) ( NNS people ) ) ( PP-CLR ( IN as ) ( NP ( NNS controls ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

There 's a certain cruel logic at work here It 's particularly appropriate and tragic that the land that produced Karl Marx should prove socialism 's failure in an experiment that uses its own people as controls


( S ( NP-SBJ ( EX There ) ) ( VP ( MD may ) ( VP ( VB be ) ( NP-PRD ( NP ( NNS forces ) ) ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( VP ( MD would ) ( VP ( VB delay ) ( NP ( DT this ) ( NN scenario ) ) ) ) ) ) ) ) ) )

There may be forces that would delay this scenario


( S ( S ( NP-SBJ ( NNS Ideologues ) ) ( VP ( VBP are ) ( NP-PRD ( NP ( DT the ) ( JJ last ) ) ( SBAR ( S ( VP ( TO to ) ( VP ( VB surrender ) ) ) ) ) ) ) ) ( CC and ) ( S ( NP-SBJ ( NNPS Germans ) ) ( VP ( VBP are ) ( NP-PRD ( DT an ) ( JJ ideological ) ( NNS people ) ) ) ) )

Ideologues are the last to surrender and Germans are an ideological people


( S ( S ( NP-SBJ ( NP ( DT The ) ( NNS protesters ) ) ( SBAR ( WHNP-1 ( WP who ) ) ( S ( VP ( VBD greeted ) ( NP ( NNP Mikhail ) ( NNP Gorbachev ) ) ( PP-LOC ( IN at ) ( NP ( NP ( NNP East ) ( NNP Berlin ) ( POS 's ) ) ( NN airport ) ) ) ( NP-TMP ( RBR earlier ) ( DT this ) ( NN month ) ) ) ) ) ) ( VP ( VBD were ) ( RB n't ) ( VP ( VBG shouting ) ( SINV ( VP ( VB Go ) ) ( NP-SBJ ( NNP U.S.A ) ) ) ) ) ) ( S ( NP-SBJ ( PRP they ) ) ( VP ( VBD were ) ( VP ( VBG chanting ) ( S ( NP-VOC ( NNP Gorby ) ) ( VP ( VB Help ) ( NP ( PRP Us ) ) ) ) ) ) ) )

The protesters who greeted Mikhail Gorbachev at East Berlin 's airport earlier this month were n't shouting Go U.S.A they were chanting Gorby Help Us


( S ( NP-SBJ ( NP ( NNS Ideologues ) ) ( PP-LOC ( IN on ) ( NP ( NP ( DT the ) ( JJ other ) ( NN side ) ) ( PP ( IN of ) ( NP ( DT the ) ( NN border ) ) ) ) ) ) ( VP ( MD can ) ( ADVP ( RB also ) ) ( VP ( VB slow ) ( NP ( DT the ) ( NN process ) ) ) ) )

Ideologues on the other side of the border can also slow the process


( S ( NP-SBJ-1 ( NP ( NNP Helmut ) ( NNP Kohl ) ( VBZ 's ) ) ( VBG governing ) ( JJ conservative ) ( NN coalition ) ) ( VP ( VBZ is ) ( VP ( VBG proving ) ( ADJP-PRD ( RB admirably ) ( JJ true ) ( PP ( TO to ) ( NP ( DT the ) ( JJ West ) ( JJ German ) ( NN constitution ) ) ) ) ( PP-MNR ( IN by ) ( S-NOM ( VP ( VBG making ) ( S ( NP-SBJ ( NP ( QP ( JJR more ) ( IN than ) ( CD 500,000 ) ) ( NNS people ) ) ( PP ( IN of ) ( NP ( JJ German ) ( NN descent ) ) ) ) ( NP-PRD ( JJ automatic ) ( NNS citizens ) ) ) ( NP-TMP ( NP ( DT this ) ( NN year ) ) ( ADVP ( RB alone ) ) ) ) ) ) ) ) )

Helmut Kohl 's governing conservative coalition is proving admirably true to the West German constitution by making more than 500,000 people of German descent automatic citizens this year alone


( S ( CC But ) ( PP-LOC ( PP ( IN within ) ( NP ( DT the ) ( NN government ) ) ) ( CC and ) ( PP ( IN in ) ( NP ( NP ( DT the ) ( VB think ) ( NNS tanks ) ) ( PP-LOC ( IN outside ) ( NP ( PRP it ) ) ) ) ) ) ( NP-SBJ ( JJ many ) ( NNP West ) ( NNPS Germans ) ) ( VP ( VBP maintain ) ( SBAR ( IN that ) ( S ( NP-SBJ ( PRP they ) ) ( VP ( VBP do ) ( RB n't ) ( VP ( VB want ) ( NP ( JJ immediate ) ( NN reunification ) ) ) ) ) ) ) )

But within the government and in the think tanks outside it many West Germans maintain that they do n't want immediate reunification


( S ( ADVP ( RB Politically ) ) ( NP-SBJ ( DT this ) ) ( ADVP-TMP ( RB currently ) ) ( VP ( VBZ is ) ( NP-PRD ( NN wisdom ) ) ( PP ( ADVP ( RB particularly ) ) ( VBN given ) ( NP ( DT a ) ( JJ nervous ) ( JJ neighboring ) ( NNP France ) ) ) ) )

Politically this currently is wisdom particularly given a nervous neighboring France


( S ( CC But ) ( NP-SBJ ( PRP it ) ) ( VP ( MD would ) ( VP ( VB be ) ( ADJP-PRD ( JJ ironic ) ) ( SBAR-ADV ( IN if ) ( S ( NP-SBJ ( NP ( NNP Germany ) ( POS 's ) ) ( NN reunification ) ) ( PP ( ADVP ( RB just ) ) ( IN like ) ( NP ( PRP$ its ) ( NN division ) ) ) ( ADVP-TMP ( RB eventually ) ) ( VP ( VBD were ) ( NP-PRD ( NP ( DT the ) ( NN result ) ) ( PP ( IN of ) ( NP ( NP ( NNS actions ) ) ( PP-LOC ( IN in ) ( NP ( NP ( NNS centers ) ) ( PP ( IN of ) ( NP ( NN power ) ) ) ( ADVP ( JJ other ) ( PP ( IN than ) ( NP ( NNP Bonn ) ( CC and ) ( NNP Berlin ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

But it would be ironic if Germany 's reunification just like its division eventually were the result of actions in centers of power other than Bonn and Berlin


( S ( PP-LOC ( IN In ) ( NP ( NP ( DT a ) ( NN statement ) ) ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( VP ( VBD was ) ( ADJP-PRD ( ADJP ( RB as ) ( JJ close ) ) ( SBAR ( IN as ) ( S ( NP-SBJ ( NNP East ) ( NNP Germany ) ) ( VP ( VBZ gets ) ) ) ) ( PP-2 ( TO to ) ( S-NOM ( VP ( VBG practicing ) ( NP ( NN glasnost ) ) ) ) ) ) ) ) ) ) ) ( NP-SBJ ( NP ( NNP Otto ) ( NNP Reinhold ) ) ( NP ( DT an ) ( ADJP ( JJ East ) ( JJ German ) ) ( NN party ) ( NN theorist ) ) ) ( ADVP ( RB actually ) ) ( VP ( VBD acknowledged ) ( NP ( DT the ) ( NN reunification ) ( NN dilemma ) ) ) )

In a statement that was as close as East Germany gets to practicing glasnost Otto Reinhold an East German party theorist actually acknowledged the reunification dilemma


( S-1 ( NP-SBJ ( DT The ) ( JJ main ) ( NN problem ) ) ( PRN ( S ( NP-SBJ ( NNP Mr. ) ( NNP Reinhold ) ) ( VP ( VBD said ) ( PP-LOC ( IN in ) ( NP ( NP ( DT an ) ( ADJP ( JJ East ) ( JJ German ) ) ( NN radio ) ( NN interview ) ) ( VP ( VBN monitored ) ( PP ( IN by ) ( NP-LGS ( NP ( NNP Radio ) ( NNP Free ) ( NNP Europe ) ) ( PP-LOC ( IN in ) ( NP ( NNP Munich ) ) ) ) ) ) ) ) ) ) ) ( VP ( VBZ stems ) ( PP-CLR ( IN from ) ( NP ( DT the ) ( NN fact ) ( SBAR ( IN that ) ( S ( NP-SBJ ( DT the ) ( NNP GDR ) ) ( VP ( VBZ is ) ( ADJP-PRD ( JJ different ) ( PP ( IN from ) ( NP ( JJ other ) ( ADJP ( JJ East ) ( JJ European ) ) ( NNS states ) ) ) ) ) ) ) ) ) ) )

The main problem Mr. Reinhold said in an East German radio interview monitored by Radio Free Europe in Munich stems from the fact that the GDR is different from other East European states


( SBARQ-2 ( WHNP-1 ( WHNP ( WDT What ) ( NN kind ) ) ( PP ( IN of ) ( NP ( NN right ) ( S ( VP ( TO to ) ( VP ( VB exist ) ) ) ) ) ) ) ( PRN ( S ( NP-SBJ ( PRP he ) ) ( VP ( VBD asked ) ) ) ) ( SQ ( MD would ) ( NP-SBJ ( DT a ) ( JJ capitalist ) ( NNP German ) ( NNP Democratic ) ( NNP Republic ) ) ( VP ( VBP have ) ( PP-LOC ( IN alongside ) ( NP ( DT a ) ( JJ capitalist ) ( NNP Federal ) ( NNP Republic ) ) ) ) ) )

What kind of right to exist he asked would a capitalist German Democratic Republic have alongside a capitalist Federal Republic


( S ( NP-SBJ ( DT That ) ) ( VP ( VBZ 's ) ( NP-PRD ( NP ( DT a ) ( NN question ) ) ( SBAR ( S ( NP-SBJ ( NNP East ) ( NNP Germany ) ) ( VP ( MD ca ) ( RB n't ) ( VP ( VB answer ) ( ADVP-MNR ( RB easily ) ) ( ADVP ( DT no ) ( NN matter ) ( SBAR ( WHNP-1 ( WP what ) ) ( S ( NP-SBJ ( PRP$ its ) ( JJ new ) ( NN leader ) ) ( VP ( VBZ does ) ) ) ) ) ) ) ) ) ) ) )

That 's a question East Germany ca n't answer easily no matter what its new leader does


( S ( NP-SBJ ( NNP Miss ) ( NNP Shlaes ) ) ( VP ( VBZ is ) ( NP-PRD ( NP ( JJ editorial ) ( NNS features ) ( NN editor ) ) ( PP ( IN of ) ( NP ( DT The ) ( NNP Wall ) ( NNP Street ) ( NNP Journal\/Europe ) ) ) ) ) )

Miss Shlaes is editorial features editor of The Wall Street Journal\/Europe


( S ( NP-SBJ ( NP-TTL ( DT The ) ( JJ New ) ( NN Crowd ) ) ( PP ( IN by ) ( NP ( NP ( NNP Judith ) ( NNP Ramsey ) ( NNP Ehrlich ) ) ( CC and ) ( NP ( NNP Barry ) ( NNP J. ) ( NNP Rehfeld ) ) ) ) ( PRN ( NP ( NNP Little ) ( NNP Brown ) ) ( NP ( CD 444 ) ( NNS pages ) ) ( NP ( CD 19.95 ) ) ) ) ( VP ( VBZ describes ) ( NP ( NP ( DT the ) ( NN displacing ) ) ( PP ( IN of ) ( NP ( DT the ) ( JJ old ) ( PRP$ our ) ( NN crowd ) ( JJ Jewish ) ( NNP Wall ) ( NNP Street ) ( NN banking ) ( NNS grandees ) ) ) ( PP ( IN by ) ( NP ( NP ( JJ such ) ( JJ new ) ( NN business ) ( NNS barons ) ) ( PP ( IN as ) ( NP ( NP ( NNP Saul ) ( NNP Steinberg ) ) ( NP ( NNP Carl ) ( NNP Icahn ) ) ( NP ( NNP Sanford ) ( NNP Weill ) ) ( CC and ) ( NP ( NNP Bruce ) ( NNP Wasserstein ) ) ) ) ) ) ) ) )

The New Crowd by Judith Ramsey Ehrlich and Barry J. Rehfeld Little Brown 444 pages 19.95 describes the displacing of the old our crowd Jewish Wall Street banking grandees by such new business barons as Saul Steinberg Carl Icahn Sanford Weill and Bruce Wasserstein


( S ( NP-SBJ ( PRP$ Its ) ( JJ many ) ( JJ lively ) ( NNS stories ) ) ( VP ( VBP include ) ( NP ( DT the ) ( NNP Gutfreund-Postel ) ( NN holiday ) ( NN cheer ) ( NN imbroglio ) ) ) )

Its many lively stories include the Gutfreund-Postel holiday cheer imbroglio


( S ( NP-SBJ ( DT These ) ( CD two ) ( NNP New ) ( NNP Crowd ) ( NNS families ) ) ( VP ( VBD lived ) ( PP-LOC-CLR ( IN in ) ( NP ( DT the ) ( JJ same ) ( NN apartment ) ( NN building ) ) ) ( SBAR-ADV ( IN with ) ( S ( NP-SBJ ( DT the ) ( NNP Postel ) ( NN penthouse ) ) ( VP ( VBN perched ) ( PP-LOC-CLR ( IN on ) ( NP ( NP ( NN top ) ) ( PP ( IN of ) ( NP ( DT the ) ( NNP Gutfreund ) ( NN duplex ) ) ) ) ) ) ) ) ) )

These two New Crowd families lived in the same apartment building with the Postel penthouse perched on top of the Gutfreund duplex


( S ( S ( NP-SBJ ( DT The ) ( NN penthouse ) ( NN elevator ) ) ( VP ( VBD started ) ( ADVP-DIR ( RB up ) ) ( PP-DIR ( IN from ) ( NP ( DT the ) ( NNP Gutfreund ) ( NN landing ) ) ) ) ) ( CC and ) ( S ( NP-SBJ-1 ( NNP Susan ) ( NNP Gutfreund ) ) ( VP ( VBD used ) ( S ( VP ( TO to ) ( VP ( VB turn ) ( PRT ( RP off ) ) ( NP-PRD ( PRP$ its ) ( NN light ) ) ( S-PRP ( VP ( TO to ) ( VP ( VB give ) ( NP ( DT the ) ( NN impression ) ( SBAR ( IN that ) ( S ( NP-SBJ ( EX there ) ) ( VP ( VBD was ) ( NP-PRD ( DT no ) ( JJR higher ) ( NN floor ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

The penthouse elevator started up from the Gutfreund landing and Susan Gutfreund used to turn off its light to give the impression that there was no higher floor


( S ( ADVP-TMP ( RB Eventually ) ) ( NP-SBJ ( NNP Mr. ) ( NNP Postel ) ) ( VP ( VBD broke ) ( NP ( PRP$ his ) ( NN toe ) ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( NN dark ) ) ) ) )

Eventually Mr. Postel broke his toe in the dark


( S ( RB Then ) ( NP-SBJ-1 ( DT the ) ( NNPS Gutfreunds ) ) ( VP ( VBD determined ) ( S ( VP ( TO to ) ( VP ( VB put ) ( PRT ( RP up ) ) ( NP ( NP ( DT a ) ( JJ 22-foot ) ( NNP Christmas ) ( NN tree ) ) ( VP ( VBG weighing ) ( NP ( NP ( DT a ) ( NN quarter ) ) ( PP ( IN of ) ( NP ( DT a ) ( NN ton ) ) ) ) ) ) ( S-PRP ( VP ( TO to ) ( VP ( VB amaze ) ( NP ( PRP$ their ) ( NN holiday ) ( NNS guests ) ) ) ) ) ) ) ) ) )

Then the Gutfreunds determined to put up a 22-foot Christmas tree weighing a quarter of a ton to amaze their holiday guests


( S ( PP-PRP ( IN For ) ( NP ( DT this ) ) ) ( NP-SBJ-2 ( DT a ) ( NN crane ) ) ( VP ( VBD needed ) ( S ( VP ( TO to ) ( VP ( VB be ) ( VP ( VBN mounted ) ( PP-LOC-CLR ( IN on ) ( NP ( NP ( DT the ) ( NNPS Postels ) ( POS ' ) ) ( NN terrace ) ) ) ) ) ) ) ) )

For this a crane needed to be mounted on the Postels ' terrace


( S ( NP-SBJ ( DT The ) ( NNPS Postels ) ) ( VP ( VBD did ) ( RB not ) ( VP ( VB give ) ( NP ( NN permission ) ) ) ) )

The Postels did not give permission


( S ( CC But ) ( NP-SBJ-2 ( DT the ) ( NNP Gutfreund ) ( NNS workers ) ) ( VP ( VBD went ) ( ADVP-CLR ( RB ahead ) ) ( ADVP ( RB anyway ) ) ( S-ADV ( ADVP ( RB only ) ) ( VP ( TO to ) ( VP ( VB be ) ( VP ( VBN captured ) ( ADVP-MNR ( FW in ) ( FW flagrante ) ) ( PP ( IN by ) ( NP-LGS ( NP ( NNP Joan ) ( NNP Postel ) ) ( SBAR ( WHNP-1 ( WP who ) ) ( S ( VP ( VBD called ) ( NP ( DT the ) ( NN police ) ) ) ) ) ) ) ) ) ) ) ) )

But the Gutfreund workers went ahead anyway only to be captured in flagrante by Joan Postel who called the police


( S ( SBAR-TMP ( IN Before ) ( S ( NP-SBJ ( DT the ) ( NNPS Gutfreunds ) ) ( ADVP-TMP ( RB finally ) ) ( VP ( VBD left ) ( NP ( DT this ) ( JJ unfriendly ) ( NN environment ) ) ( PP-CLR ( IN for ) ( NP ( NP ( NP ( DT a ) ( JJ prodigious ) ( NN duplex ) ) ( PP-LOC ( IN on ) ( NP ( NNP Fifth ) ( NNP Avenue ) ) ) ) ( CC and ) ( NP ( NP ( DT an ) ( JJ 18th-century ) ( NN mansion ) ) ( PP ( IN with ) ( NP ( DT a ) ( ADJP ( RB specially ) ( VBN excavated ) ) ( ADJP ( QP ( CD 1 ) ( CD million ) ) ) ( NN garage ) ) ) ( PP-LOC ( IN in ) ( NP ( NNP Paris ) ) ) ) ) ) ) ) ) ( NP-SBJ ( DT the ) ( NNPS Postels ) ) ( VP ( VBD had ) ( VP ( VBN obtained ) ( NP ( NP ( DT an ) ( NN injunction ) ) ( SBAR ( S ( VP ( TO to ) ( VP ( VB prevent ) ( NP ( NP ( DT any ) ( NN future ) ( NN hoisting ) ) ( PP ( IN of ) ( NP ( NNS trees ) ) ) ) ) ) ) ) ) ) ( CC and ) ( VP ( PP ( IN in ) ( NP ( DT a ) ( JJ neighborly ) ( NN spirit ) ) ) ( VBD hit ) ( NP ( DT both ) ( NP ( DT the ) ( NNPS Gutfreunds ) ) ( CC and ) ( NP ( DT the ) ( NN building ) ) ) ( PP-CLR ( IN with ) ( NP ( DT a ) ( ADJP ( QP ( CD 35 ) ( CD million ) ) ) ( NN lawsuit ) ) ) ) ) )

Before the Gutfreunds finally left this unfriendly environment for a prodigious duplex on Fifth Avenue and an 18th-century mansion with a specially excavated 1 million garage in Paris the Postels had obtained an injunction to prevent any future hoisting of trees and in a neighborly spirit hit both the Gutfreunds and the building with a 35 million lawsuit


( S-1 ( NP-SBJ ( NN Nothing ) ( RBR less ) ) ( PRN ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBD seemed ) ) ) ) ( VP ( MD could ) ( VP ( VB console ) ( NP ( PRP them ) ) ( PP ( IN for ) ( NP ( PRP$ their ) ( NNS traumas ) ) ) ) ) )

Nothing less it seemed could console them for their traumas


( SBARQ ( WHNP-1 ( WRB Where ) ) ( SQ ( VBD had ) ( NP-SBJ ( PDT all ) ( DT the ) ( NN money ) ) ( VP ( VBN come ) ( PP-DIR ( IN from ) ) ) ) )

Where had all the money come from


( S ( NP-SBJ-2 ( DT The ) ( JJ young ) ( NNP John ) ( NNP Gutfreund ) ) ( VP ( VBD had ) ( VP ( VBN been ) ( VP ( VP ( VBN discovered ) ( PP ( IN by ) ( NP-LGS ( NP ( NNP Billy ) ( NNP Salomon ) ) ( PP ( IN of ) ( NP ( NNP Salomon ) ( NNP Bros. ) ) ) ) ) ( SBAR-TMP ( WHADVP-1 ( WRB when ) ) ( S ( NP-SBJ ( PRP he ) ) ( VP ( VBD was ) ( ADVP-TMP ( RB still ) ) ( NP-PRD ( DT a ) ( JJ bearded ) ( NN liberal ) ) ) ) ) ) ( CC and ) ( VP ( VBN put ) ( S ( VP ( TO to ) ( VP ( VB work ) ( PP-CLR ( PP ( IN as ) ( NP ( DT a ) ( NN trader ) ) ) ( CC and ) ( RB then ) ( PP ( IN as ) ( NP ( DT a ) ( JJ rough-and-tumble ) ( NN syndicator ) ) ) ) ) ) ) ) ) ) ) )

The young John Gutfreund had been discovered by Billy Salomon of Salomon Bros. when he was still a bearded liberal and put to work as a trader and then as a rough-and-tumble syndicator


( S ( S-TPC-1 ( S-TPC-2 ( VP ( VB Get ) ( PP-CLR ( IN off ) ( NP ( PRP$ your ) ) ) ) ) ( NP-SBJ ( PRP he ) ) ( VP ( MD would ) ( VP ( VB bellow ) ) ) ) ( VP ( VBP say ) ) ( NP-SBJ ( DT the ) ( NNS authors ) ) )

Get off your he would bellow say the authors


( S ( S-ADV ( VP ( VBG Rising ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( NN firm ) ) ) ) ) ( NP-SBJ-1 ( PRP he ) ) ( VP ( VBD became ) ( ADJP-PRD ( JJ powerful ) ( CC and ) ( JJ bland ) ) ( SBAR-ADV ( IN though ) ( S ( NP-SBJ ( NP ( PRP$ his ) ( JJ new ) ( NN wife ) ) ( NP ( NNP Susan ) ) ) ( VP ( VBD made ) ( S ( NP-SBJ ( PRP him ) ) ( VP ( VB shine ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( NN gossip ) ( NNS columns ) ) ) ( PP ( IN with ) ( NP ( NP ( PRP$ her ) ( JJ profligate ) ( NN spending ) ( NNS habits ) ) ( CC and ) ( NP ( JJ flamboyant ) ( NNS frocks ) ) ) ) ) ) ) ) ) ) )

Rising in the firm he became powerful and bland though his new wife Susan made him shine in the gossip columns with her profligate spending habits and flamboyant frocks


( S ( SBAR-TMP ( IN After ) ( S ( NP-SBJ ( PRP he ) ) ( VP ( VBD had ) ( VP ( VBN been ) ( NP-PRD ( NP ( NN head ) ) ( PP ( IN of ) ( NP ( DT the ) ( NN company ) ) ) ) ( PP-TMP ( IN for ) ( NP ( CD 3 ) ( CD 1\/2 ) ( NNS years ) ) ) ) ) ) ) ( NP-SBJ ( NP ( PRP he ) ) ( CC and ) ( NP ( PRP$ his ) ( NNS partners ) ) ) ( VP ( VBD sold ) ( NP ( PRP it ) ) ( PP-DTV ( TO to ) ( NP ( NP ( NNP Phibro ) ) ( NP ( DT a ) ( JJ powerful ) ( NN commodity ) ( NN trading ) ( NN outfit ) ) ) ) ( PP-CLR ( IN for ) ( NP ( NP ( QP ( CD 550 ) ( CD million ) ) ) ( PP ( IN in ) ( NP ( NNP Phibro ) ( NN stock ) ) ) ) ) ) )

After he had been head of the company for 3 1\/2 years he and his partners sold it to Phibro a powerful commodity trading outfit for 550 million in Phibro stock


( S ( NP-SBJ-3 ( NP ( JJ Limited ) ( NN partner ) ( NNP Billy ) ( NNP Salomon ) ) ( SBAR ( SBAR ( WHNP-1 ( WP$ whose ) ( NN family ) ( NN name ) ) ( S ( VP ( VBD had ) ( VP ( VBN been ) ( PP-LOC-PRD ( IN on ) ( NP ( NP ( DT the ) ( NN firm ) ( POS 's ) ) ( NN door ) ) ) ( PP-TMP ( IN for ) ( NP ( CD 70 ) ( NNS years ) ) ) ) ) ) ) ( CC and ) ( SBAR ( WHNP-2 ( WP who ) ) ( S ( VP ( VBD had ) ( VP ( VBN hoped ) ( SBAR ( S ( NP-SBJ ( PRP it ) ) ( VP ( MD would ) ( VP ( VB be ) ( ADVP-LOC-PRD ( RB there ) ) ( ADVP-TMP ( RB forever ) ) ) ) ) ) ) ) ) ) ) ) ( VP ( VBD was ) ( RB not ) ( VP ( VBN consulted ) ) ) )

Limited partner Billy Salomon whose family name had been on the firm 's door for 70 years and who had hoped it would be there forever was not consulted


( S ( NP-SBJ ( NNP Mr. ) ( NNP Gutfreund ) ) ( VP ( VBD collected ) ( NP ( QP ( CD 32 ) ( CD million ) ) ) ( SBAR-ADV ( IN while ) ( S ( NP-SBJ ( NNP Billy ) ( NNP Salomon ) ) ( VP ( VBD got ) ( NP ( NP ( QP ( CD 10 ) ( CD million ) ) ) ( ADJP ( ADJP ( RB much ) ( JJR less ) ) ( PP ( IN than ) ( SBAR ( IN if ) ( S ( NP-SBJ ( PRP he ) ) ( VP ( VBD had ) ( VP ( VBN conducted ) ( NP ( DT the ) ( NN sale ) ) ) ) ) ) ) ) ) ) ) ) ) )

Mr. Gutfreund collected 32 million while Billy Salomon got 10 million much less than if he had conducted the sale


( S ( S-TPC-1 ( NP-SBJ ( PRP I ) ) ( VP ( VBD felt ) ( ADJP-PRD ( VBN betrayed ) ) ) ) ( NP-SBJ ( PRP he ) ) ( ADVP-TMP ( RB later ) ) ( VP ( VBD said ) ) )

I felt betrayed he later said


( S ( ADVP ( RBR Worse ) ) ( NP-SBJ ( NP ( NNP Salomon ) ( POS 's ) ) ( NN timing ) ) ( VP ( VBD had ) ( VP ( VBN been ) ( ADVP-PRD ( RB off ) ) ) ) )

Worse Salomon 's timing had been off


( S ( S ( NP-SBJ ( PRP$ Its ) ( NNS profits ) ) ( PP ( IN unlike ) ( NP ( NNP Phibro ) ( POS 's ) ) ) ( VP ( VBD soared ) ( PP-TMP ( IN over ) ( NP ( DT the ) ( JJ next ) ( CD two ) ( NNS years ) ) ) ) ) ( CC and ) ( S ( SBAR-ADV ( SINV ( VBD had ) ( NP-SBJ ( PRP it ) ) ( VP ( VBN held ) ( PRT ( RP out ) ) ) ) ) ( NP-SBJ ( NNP Salomon ) ) ( VP ( MD could ) ( VP ( VB have ) ( VP ( VBN gotten ) ( NP ( DT an ) ( ADJP ( RB even ) ( JJR bigger ) ) ( NN bundle ) ) ) ) ) ) )

Its profits unlike Phibro 's soared over the next two years and had it held out Salomon could have gotten an even bigger bundle


( S ( NP-SBJ ( DT The ) ( NN book ) ) ( ADVP ( RB also ) ) ( VP ( VBZ recounts ) ( NP ( NP ( DT the ) ( ADJP ( RB not ) ( JJ dissimilar ) ) ( NNS maneuvers ) ) ( VP ( VBG surrounding ) ( NP ( NP ( DT the ) ( NN changing ) ) ( PP ( IN of ) ( NP ( DT the ) ( NN guard ) ) ) ( PP-LOC ( IN at ) ( NP ( NP ( NNP Lehman ) ( NNP Bros. ) ) ( CC and ) ( NP ( JJ other ) ( JJ grand ) ( JJ old ) ( NNS firms ) ) ) ) ) ) ) ) )

The book also recounts the not dissimilar maneuvers surrounding the changing of the guard at Lehman Bros. and other grand old firms


( S ( S ( ADVP-TMP ( RB Often ) ) ( NP-SBJ-1 ( DT the ) ( ADJP ( JJ genteel ) ( JJ conservative ) ( JJ long-term-oriented ) ) ( NN investment ) ( NNS bankers ) ) ( VP ( VBD were ) ( VP ( VBN displaced ) ( PP ( IN by ) ( NP-LGS ( JJ crude ) ( NNS traders ) ) ) ) ) ) ( S ( S-TPC-4 ( SBAR ( WHADVP-3 ( WRB When ) ) ( S ( VP ( VBN angered ) ) ) ) ( NP-SBJ ( PRP he ) ) ( VP ( VBD cursed ) ( ADVP-MNR ( ADVP ( RB so ) ( RB forcefully ) ) ( SBAR ( IN that ) ( S ( S ( NP-SBJ ( PRP$ his ) ( NN face ) ) ( VP ( VB reddened ) ) ) ( CC and ) ( S ( NP-SBJ ( PRP$ his ) ( JJ pale-blue ) ( NNS eyes ) ) ( VP ( VBD narrowed ) ( PP-CLR ( IN into ) ( NP ( JJ tiny ) ( NNS slits ) ) ) ) ) ) ) ) ) ) ( NP-SBJ ( DT the ) ( NNS authors ) ) ( VP ( VBP say ) ( PP-CLR ( IN of ) ( NP ( NP ( NNP Lehman ) ( POS 's ) ) ( NNP Lewis ) ( NNP Glucksman ) ) ) ) ) )

Often the genteel conservative long-term-oriented investment bankers were displaced by crude traders When angered he cursed so forcefully that his face reddened and his pale-blue eyes narrowed into tiny slits the authors say of Lehman 's Lewis Glucksman


( S ( NP-SBJ ( NP ( NP ( DT The ) ( JJR earlier ) ( NN generation ) ) ( PP ( IN of ) ( NP ( PRP$ our ) ( NN crowd ) ( NNS bankers ) ) ) ) ( NP ( NNPS Belmonts ) ( NNPS Warburgs ) ( NNPS Lehmans ) ( NNPS Baches ) ( CC and ) ( NNPS Schiffs ) ) ) ( VP ( VBD had ) ( VP ( VBN stressed ) ( PP ( IN above ) ( NP ( DT all ) ) ) ( NP ( NN probity ) ( NN tradition ) ( NN continuity ) ( CC and ) ( NN reputation ) ) ) ) )

The earlier generation of our crowd bankers Belmonts Warburgs Lehmans Baches and Schiffs had stressed above all probity tradition continuity and reputation


( S ( NP-SBJ ( PRP They ) ) ( VP ( VBD were ) ( NP-PRD ( NP ( JJ old-fashioned ) ( JJ elegant ) ( NNS gentlemen ) ) ( SBAR ( WHNP-1 ( WP who ) ) ( S ( VP ( VBD happened ) ( S ( VP ( TO to ) ( VP ( VB be ) ( PP-PRD ( IN of ) ( NP ( JJ German ) ( JJ Jewish ) ( NN extraction ) ) ) ) ) ) ) ) ) ) ) )

They were old-fashioned elegant gentlemen who happened to be of German Jewish extraction


( S ( CC But ) ( PP-LOC ( IN in ) ( NP ( NP ( DT the ) ( JJ harsh ) ( NN world ) ) ( PP ( IN of ) ( NP ( NP ( NN today ) ( POS 's ) ) ( NNP Wall ) ( NNP Street ) ) ) ) ) ( NP-SBJ ( PRP they ) ) ( VP ( VBP have ) ( VP ( VBN lost ) ( PRT ( RP out ) ) ( PP-CLR ( TO to ) ( NP ( ADJP ( ADJP ( RBR more ) ( JJ aggressive ) ) ( CC and ) ( ADJP ( RB sometimes ) ( RBR less ) ( JJ scrupulous ) ) ) ( NNS successors ) ) ) ) ) )

But in the harsh world of today 's Wall Street they have lost out to more aggressive and sometimes less scrupulous successors


( S ( NP-SBJ ( DT The ) ( NN cuckoo ) ) ( VP ( VP ( VBZ prefers ) ( NP ( NP ( DT the ) ( NNS nests ) ) ( PP ( IN of ) ( NP ( JJ other ) ( NNS birds ) ) ) ) ) ( CC and ) ( VP ( VBD heaves ) ( PRT ( RP out ) ) ( NP ( PRP$ their ) ( NNS eggs ) ) ) ) )

The cuckoo prefers the nests of other birds and heaves out their eggs


( S ( S ( CC But ) ( NP-SBJ ( DT the ) ( JJ old ) ( NN guard ) ) ( VP ( VBD hired ) ( NP ( DT the ) ( NNP New ) ( NNP Crowd ) ( NNS people ) ) ) ) ( S ( NP-SBJ ( PRP It ) ) ( VP ( VBD brought ) ( ADVP-DIR ( IN in ) ) ( NP ( PRP$ its ) ( JJ own ) ( NNS cuckoos ) ) ) ) )

But the old guard hired the New Crowd people It brought in its own cuckoos


( S ( RB So ) ( SBAR-TMP ( IN as ) ( S ( NP-SBJ ( DT the ) ( NNP Old ) ( NNP Crowd ) ) ( VP ( VBD toppled ) ( PP-DIR ( IN from ) ( NP ( DT the ) ( NN branch ) ) ) ) ) ) ( NP-SBJ ( PRP it ) ) ( VP ( MD should ) ( RB n't ) ( VP ( VB have ) ( VP ( VBN been ) ( ADJP-PRD ( RB too ) ( JJ surprised ) ) ) ) ) )

So as the Old Crowd toppled from the branch it should n't have been too surprised


( S ( NP-SBJ ( DT The ) ( JJ old ) ( NN guard ) ) ( VP ( VBD had ) ( NP ( DT every ) ( NN right ) ) ( ADVP ( RB however ) ) ( S-1 ( VP ( TO to ) ( VP ( VB disdain ) ( NP ( NP ( NP ( DT the ) ( NNS newcomers ) ( POS ' ) ) ( JJ new ) ( NNS ways ) ) ( PP ( IN of ) ( S-NOM ( VP ( VBG making ) ( NP ( NN money ) ) ) ) ) ( PP ( JJ such ) ( IN as ) ( NP ( NN greenmail ) ) ) ) ) ) ) ) )

The old guard had every right however to disdain the newcomers ' new ways of making money such as greenmail


( PRN ( S ( NP-SBJ-1 ( NP ( DT A ) ( NNP Fortune ) ( NN article ) ) ( PP ( IN on ) ( NP ( NNP Saul ) ( NNP Steinberg ) ) ) ) ( VP ( VBD was ) ( VP ( VBN entitled ) ( S ( NP-TTL-PRD ( NP ( NN Fear ) ( CC and ) ( NN Loathing ) ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( JJ Corporate ) ( NNS Boardrooms ) ) ) ) ) ) ) ) )

A Fortune article on Saul Steinberg was entitled Fear and Loathing in the Corporate Boardrooms


( S ( NP-SBJ ( PRP$ Their ) ( JJ other ) ( NN staple ) ) ( VP ( VBZ has ) ( VP ( VBN been ) ( NP-PRD ( NP ( JJ corporate ) ( NNS takeovers ) ) ( UCP ( ADJP ( RB often ) ( JJ hostile ) ) ( CC and ) ( VP ( VBN financed ) ( PP ( IN by ) ( NP-LGS ( NN junk ) ( NNS bonds ) ) ) ) ) ) ) ) )

Their other staple has been corporate takeovers often hostile and financed by junk bonds


( S ( NP-SBJ ( JJ Hostile ) ( NNS takeovers ) ) ( VP ( VBP are ) ( NP-PRD ( PDT quite ) ( DT a ) ( JJ new ) ( NN phenomenon ) ) ) )

Hostile takeovers are quite a new phenomenon


( S ( S ( ADVP-TMP ( RB Sometimes ) ) ( NP-SBJ ( PRP they ) ) ( VP ( VBP are ) ( ADJP-PRD ( JJ constructive ) ) ) ) ( CC but ) ( FRAG ( ADVP-TMP ( RB often ) ) ( RB not ) ) )

Sometimes they are constructive but often not


( S ( ADVP ( RB First ) ) ( PP-MNR ( IN by ) ( S-NOM ( VP ( VBG making ) ( S ( NP-SBJ ( NN management ) ) ( VP ( NN focus ) ( PP-CLR ( IN on ) ( NP ( JJ short-term ) ( NNS results ) ) ) ) ) ) ) ) ( NP-SBJ-1 ( PRP they ) ) ( VP ( VBP inhibit ) ( S ( VP ( VBG building ) ( PP-PRP ( IN for ) ( NP ( DT the ) ( NN future ) ) ) ) ) ( NP-ADV ( NP ( RB just ) ( DT the ) ( JJ opposite ) ) ( PP ( IN of ) ( NP ( NNP Japan ) ) ) ) ) )

First by making management focus on short-term results they inhibit building for the future just the opposite of Japan


( S ( ADVP ( RB Second ) ) ( S ( NP-SBJ ( NP ( DT a ) ( JJ long-term ) ( NN shareholder ) ) ( PP ( IN of ) ( NP ( DT a ) ( JJ good ) ( NN company ) ) ) ) ( VP ( MD need ) ( RB n't ) ( VP ( VB worry ) ( ADVP ( RB too ) ( RB much ) ) ( SBAR-TMP ( WHADVP-1 ( WRB when ) ) ( S ( NP-SBJ ( DT the ) ( NN stock ) ( NN price ) ) ( VP ( VBZ drops ) ( ADVP-TMP ( RB temporarily ) ) ) ) ) ) ) ) ( S ( NP-SBJ ( PRP It ) ) ( VP ( MD will ) ( VP ( VB bounce ) ( ADVP-DIR ( RP back ) ) ) ) ) )

Second a long-term shareholder of a good company need n't worry too much when the stock price drops temporarily It will bounce back


( S ( CC But ) ( SBAR-ADV ( IN if ) ( S ( NP-SBJ ( DT a ) ( NN raider ) ) ( VP ( VBZ takes ) ( PRT ( RP over ) ) ( SBAR-TMP ( WHADVP-1 ( WRB when ) ) ( S ( NP-SBJ ( DT the ) ( NN stock ) ) ( VP ( VBZ is ) ( ADJP-PRD ( JJ weak ) ) ) ) ) ) ) ) ( NP-SBJ ( DT the ) ( NN shareholder ) ) ( ADVP-TMP ( RB never ) ) ( VP ( VBZ gets ) ( NP ( PRP$ his ) ( NN recovery ) ) ) )

But if a raider takes over when the stock is weak the shareholder never gets his recovery


( S ( NP-SBJ ( DT The ) ( NNS raiders ) ) ( ADVP-TMP ( RB meanwhile ) ) ( VP ( VBP have ) ( VP ( VBN evolved ) ( NP ( NP ( PRP$ their ) ( JJ own ) ( NN pattern ) ) ( PP ( IN for ) ( S-NOM ( VP ( VBG spending ) ( NP ( PRP$ their ) ( JJ new ) ( NNS millions ) ) ) ) ) ) ) ) )

The raiders meanwhile have evolved their own pattern for spending their new millions


( S ( SBAR-ADV ( IN As ) ( S ( VP ( VBN described ) ( PP-LOC ( IN in ) ( NP-TTL ( DT The ) ( JJ New ) ( NN Crowd ) ) ) ) ) ) ( NP-SBJ ( PRP they ) ) ( VP ( VP ( VBP take ) ( PRT ( RP on ) ) ( NP ( JJ ambitious ) ( JJ new ) ( NNS wives ) ) ) ( VP ( VBP move ) ( PP-DIR ( TO to ) ( NP ( NP ( NP ( NNP Greenwich ) ) ( NP ( NNP Conn. ) ) ) ( CC or ) ( NP ( NP ( NNP Bedford ) ) ( NP ( NNP N.Y. ) ) ) ) ) ) ( VP ( VBP buy ) ( NP ( JJ OK ) ( NNS pictures ) ) ) ( CC and ) ( VP ( VBP let ) ( S ( NP-SBJ ( PRP$ their ) ( NNS wives ) ) ( VP ( VB share ) ( NP ( DT the ) ( NN wealth ) ) ( PP ( IN with ) ( NP ( NNS decorators ) ) ) ) ) ) ) )

As described in The New Crowd they take on ambitious new wives move to Greenwich Conn. or Bedford N.Y. buy OK pictures and let their wives share the wealth with decorators


( S ( S-ADV ( VP ( VBG Having ) ( VP ( VBN donated ) ( ADVP-MNR ( RB heavily ) ) ( PP-CLR ( TO to ) ( NP ( NNS museums ) ) ) ) ) ) ( NP-SBJ-1 ( PRP they ) ) ( VP ( VBP demand ) ( NP ( NP ( DT a ) ( NN place ) ) ( PP-LOC ( IN on ) ( NP ( PRP$ their ) ( NNS boards ) ) ) ) ) )

Having donated heavily to museums they demand a place on their boards


( S ( NP-SBJ ( DT The ) ( NN book ) ) ( VP ( VBZ is ) ( ADJP-PRD ( JJ patronizing ) ( PP ( IN about ) ( NP ( NP ( DT this ) ( ADJP ( JJ nouveau ) ( JJ riche ) ) ( NN struggle ) ) ( PP ( IN for ) ( NP ( NN respectability ) ) ) ( SBAR ( WHNP-1 ( WDT which ) ) ( S ( VP ( VBZ has ) ( NP ( PRP$ its ) ( JJ tawdry ) ( NNS aspects ) ) ) ) ) ) ) ) ) )

The book is patronizing about this nouveau riche struggle for respectability which has its tawdry aspects


( S ( ADVP ( RB However ) ) ( PP ( IN on ) ( NP ( NN balance ) ) ) ( NP-SBJ ( DT the ) ( NN charity ) ( NN game ) ) ( VP ( VBZ helps ) ( NP ( NNP America ) ) ) )

However on balance the charity game helps America


( S ( SBAR-ADV ( IN If ) ( S ( NP-SBJ ( NP ( DT those ) ) ( SBAR ( WHNP-1 ( WP who ) ) ( S ( VP ( VBP have ) ( NP ( DT the ) ( NN money ) ) ) ) ) ) ( VP ( VBP do ) ( RB n't ) ( VP ( VB get ) ( ADJP-PRD ( JJ involved ) ( PP ( IN with ) ( NP ( NP ( DT the ) ( NNS museums ) ) ( CC and ) ( NP ( DT the ) ( NNS charities ) ) ) ) ) ) ) ) ) ( ADVP ( RB then ) ) ( NP-SBJ ( NNP City ) ( NNP Hall ) ) ( VP ( MD will ) ( VP ( VB do ) ( NP ( PRP it ) ) ( ADVP-MNR ( RB badly ) ) ) ) )

If those who have the money do n't get involved with the museums and the charities then City Hall will do it badly


( S ( NP-SBJ-1 ( NP ( PRP It ) ) ) ( VP ( VBZ has ) ( VP ( VBN been ) ( VP ( ADVP-MNR ( RB rightly ) ) ( VBN observed ) ( SBAR-2 ( IN that ) ( S ( NP-SBJ ( NP ( DT the ) ( JJ main ) ( NN thing ) ) ( ADJP ( JJ wrong ) ( PP ( IN with ) ( NP ( JJ tainted ) ( NN money ) ) ) ) ) ( VP ( VBZ is ) ( SBAR-PRD ( S ( NP-SBJ ( PRP t' ) ) ( VP ( VBZ ai ) ( RB nt ) ( NP-PRD ( NP ( NN enough ) ) ( PP ( IN of ) ( NP ( PRP it ) ) ) ) ) ) ) ) ) ) ) ) ) )

It has been rightly observed that the main thing wrong with tainted money is t' ai nt enough of it


( S ( NP-SBJ-2 ( NP ( DT A ) ( NN handful ) ) ( PP ( IN of ) ( NP ( DT the ) ( NNP New ) ( NNP Crowd ) ( NNS operators ) ) ) ) ( VP ( VP ( VBP have ) ( VP ( VBN crossed ) ( NP ( NP ( DT the ) ( NN line ) ) ( PP ( IN from ) ( NP ( DT the ) ( JJ immoral ) ) ) ( PP ( TO to ) ( NP ( DT the ) ( JJ illegal ) ) ) ) ) ) ( CC and ) ( VP ( VBP have ) ( VP ( VBN ended ) ( PRT ( RP up ) ) ( UCP ( PP-LOC ( IN in ) ( NP ( DT the ) ( NN slammer ) ) ) ( CC or ) ( S ( VP ( VBG paying ) ( NP ( JJ huge ) ( NNS fines ) ) ) ) ) ) ) ) )

A handful of the New Crowd operators have crossed the line from the immoral to the illegal and have ended up in the slammer or paying huge fines


( NP ( NP ( NNP Ivan ) ( NNP Boesky ) ) ( NP ( NNP Dennis ) ( NNP Levine ) ) ( NP ( NNP Martin ) ( NNP Siegel ) ) ( NP ( NNP Victor ) ( CC and ) ( NNP Steven ) ( NNP Posner ) ) ( CC and ) ( RB now ) ( NP ( NNP Michael ) ( NNP Milken ) ) ( CC and ) ( RB perhaps ) ( NP ( NNP Leona ) ( NNP Helmsley ) ) )

Ivan Boesky Dennis Levine Martin Siegel Victor and Steven Posner and now Michael Milken and perhaps Leona Helmsley


( S ( NP-SBJ ( NP ( DT The ) ( JJ glitzy ) ( NN office ) ) ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( NP-SBJ ( NNP Ivan ) ( NNP Boesky ) ) ( VP ( VBD vacated ) ( PP-PRP ( IN for ) ( NP ( DT a ) ( NN prison ) ( NN cell ) ) ) ) ) ) ) ( VP ( VBD had ) ( ADVP-TMP ( RB previously ) ) ( VP ( VBN contained ) ( NP ( NP ( NN commodity ) ( NNS operators ) ( NNP Marc ) ( NNP Rich ) ( CC and ) ( NNP Pinky ) ( NNP Green ) ) ( NP-ADV ( NN today ) ) ( NP ( NP ( NNS fugitives ) ) ( PP ( IN from ) ( NP ( NP ( DT a ) ( JJ potential ) ( NN century ) ) ( ADVP ( RB apiece ) ) ( PP ( IN of ) ( NP ( NN jail ) ( NNS sentences ) ) ) ) ) ) ) ) ) )

The glitzy office that Ivan Boesky vacated for a prison cell had previously contained commodity operators Marc Rich and Pinky Green today fugitives from a potential century apiece of jail sentences


( S ( NP-SBJ ( DT The ) ( NNP Old ) ( NNP Crowd ) ) ( VP ( VBZ is ) ( ADJP-PRD ( RB deeply ) ( JJ concerned ) ( PP ( IN by ) ( NP ( NP ( DT the ) ( NN backlash ) ) ( PP ( IN from ) ( NP ( PDT all ) ( DT this ) ) ) ) ) ) ) )

The Old Crowd is deeply concerned by the backlash from all this


( S ( ADVP ( RB However ) ) ( NP-SBJ ( DT the ) ( NN phenomenon ) ) ( VP ( VBZ is ) ( ADJP-PRD ( RB not ) ( RB specifically ) ( JJ Jewish ) ) ) )

However the phenomenon is not specifically Jewish


( S ( NP-SBJ ( NP ( PRP It ) ) ) ( VP ( VBZ has ) ( ADVP-TMP ( RB always ) ) ( VP ( VBN been ) ( ADJP-PRD ( JJ true ) ) ( SBAR-2 ( SBAR ( IN that ) ( S ( NP-SBJ-1 ( NP ( DT those ) ) ( PP-LOC ( IN outside ) ( NP ( DT the ) ( NN club ) ) ) ) ( VP ( VBP want ) ( S ( VP ( TO to ) ( VP ( VB climb ) ( ADVP-DIR ( RB in ) ) ) ) ) ) ) ) ( CC and ) ( SBAR ( IN that ) ( S ( NP-SBJ ( DT a ) ( JJ few ) ) ( VP ( MD will ) ( VP ( VB cut ) ( NP ( NNS corners ) ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( NN process ) ) ) ) ) ) ) ) ) ) )

It has always been true that those outside the club want to climb in and that a few will cut corners in the process


( S ( NP-SBJ ( DT Some ) ( ADJP ( RB pretty ) ( JJ seamy ) ) ( NN stuff ) ) ( VP ( VP ( VBD built ) ( NP ( NP ( DT the ) ( JJ turn-of-the-century ) ( NNS families ) ( POS ' ) ) ( NNP Fifth ) ( NNP Avenue ) ( CC and ) ( NNP Newport ) ( NNS palazzi ) ) ) ( CC and ) ( VP ( VBD endowed ) ( NP ( NP ( NP ( PRP$ their ) ( NNS daughters ) ( POS ' ) ) ( NNS weddings ) ) ( PP ( TO to ) ( NP ( JJ foreign ) ( NNS noblemen ) ) ) ) ) ) )

Some pretty seamy stuff built the turn-of-the-century families ' Fifth Avenue and Newport palazzi and endowed their daughters ' weddings to foreign noblemen