( S ( ADVP ( RB Rather ) ) ( NP-SBJ ( PRP they ) ) ( VP ( VBP reflect ) ( NP ( NP ( NP ( DT the ) ( NNP Bank ) ( POS 's ) ) ( ADJP ( JJ time-tested ) ( JJ pragmatic ) ) ( NN approach ) ) ( SBAR ( WHNP-1 ( WDT which ) ) ( S ( VP ( VBZ aims ) ( PP-CLR ( IN at ) ( S-NOM ( VP ( VBG ensuring ) ( SBAR ( IN that ) ( S ( NP-SBJ ( VBG developing ) ( NNS countries ) ) ( VP ( VBP put ) ( NP ( PRP$ their ) ( JJ scarce ) ( NNS resources ) ) ( PP-CLR ( TO to ) ( NP ( DT the ) ( ADJP ( JJS best ) ( JJ possible ) ) ( NN use ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Rather they reflect the Bank 's time-tested pragmatic approach which aims at ensuring that developing countries put their scarce resources to the best possible use


( NP ( NP ( NNP Francisco ) ( NNP Aguirre-Sacasa ) ) ( NP ( NP ( NP ( NNP Director ) ) ( NP ( NNP External ) ( NNPS Affairs ) ) ) ( NP ( DT The ) ( NNP World ) ( NNP Bank ) ) ) )

Francisco Aguirre-Sacasa Director External Affairs The World Bank


( S ( NP-SBJ-1 ( NP ( NNP Albert ) ( NNP Fried ) ( NNP Jr. ) ) ( NP ( NP ( DT a ) ( JJ 59-year-old ) ( NN director ) ( CC and ) ( NN holder ) ) ( PP ( IN of ) ( NP ( NP ( DT a ) ( ADJP ( CD 9.5 ) ( NN % ) ) ( NN stake ) ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( NN company ) ) ) ) ) ) ) ( VP ( VBD was ) ( VP ( VBN named ) ( S ( NP-PRD ( NP ( NN chairman ) ) ( PP ( IN of ) ( NP ( NP ( DT this ) ( NN maker ) ) ( PP ( IN of ) ( NP ( NP ( NNS products ) ) ( PP ( IN for ) ( NP ( DT the ) ( NN construction ) ( NN equipment ) ( NN material ) ( NN handling ) ( CC and ) ( NN railroad ) ( NNS industries ) ) ) ) ) ) ) ) ) ) ) )

Albert Fried Jr. a 59-year-old director and holder of a 9.5 % stake in the company was named chairman of this maker of products for the construction equipment material handling and railroad industries


( S ( NP-SBJ ( PRP He ) ) ( VP ( VBZ succeeds ) ( NP ( NP ( NNP L.L. ) ( NNP White ) ( NNP Jr. ) ) ( NP ( CD 62 ) ) ( SBAR ( WHNP-1 ( WP who ) ) ( S ( VP ( VP ( VBD resigned ) ) ( CC but ) ( VP ( VBZ continues ) ( PP-CLR ( IN as ) ( NP ( DT a ) ( NN director ) ) ) ) ) ) ) ) ) )

He succeeds L.L. White Jr. 62 who resigned but continues as a director


( S ( NP-SBJ ( NNP Mr. ) ( NNP Fried ) ) ( ADVP ( RB also ) ) ( VP ( VBZ is ) ( NP-PRD ( NP ( DT the ) ( VBG managing ) ( NN partner ) ) ( PP ( IN of ) ( NP ( NNP Albert ) ( NNP Fried ) ( CC & ) ( NNP Co ) ) ) ) ) )

Mr. Fried also is the managing partner of Albert Fried & Co


( S ( NP-SBJ ( NNP International ) ( NNPS Minerals ) ( CC & ) ( NNP Chemical ) ( NNP Corp. ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ-1 ( PRP it ) ) ( VP ( VBD agreed ) ( ADVP-MNR ( RB definitively ) ) ( S ( VP ( TO to ) ( VP ( VB sell ) ( NP ( PRP$ its ) ( JJ international ) ( NN fragrance ) ( NN business ) ) ( PP-DTV ( TO to ) ( NP ( NP ( NNP Bayer ) ( NNP AG ) ) ( PP ( IN of ) ( NP ( NNP West ) ( NNP Germany ) ) ) ) ) ) ) ) ) ) ) ) )

International Minerals & Chemical Corp. said it agreed definitively to sell its international fragrance business to Bayer AG of West Germany


( S ( NP-SBJ-1 ( NNS Terms ) ) ( VP ( VBD were ) ( RB n't ) ( VP ( VBN disclosed ) ) ) )

Terms were n't disclosed


( S ( NP-SBJ ( NP ( DT The ) ( NN maker ) ) ( PP ( IN of ) ( NP ( NN animal ) ( NN health ) ( CC and ) ( NN nutrition ) ( NNS products ) ) ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( NP ( DT the ) ( NN business ) ) ( NP ( NP ( NNPS Creations ) ( NNP Aromatiques ) ) ( PP ( IN of ) ( NP ( NP ( NP ( NNP Port ) ( NNP Valais ) ) ( NP-LOC ( NNP Switzerland ) ) ) ( CC and ) ( NP ( NP ( NNP Woodside ) ) ( NP-LOC ( NNP N.Y. ) ) ) ) ) ) ) ( VP ( VP ( VBZ is ) ( NP-PRD ( NP ( DT a ) ( NN division ) ) ( PP ( IN of ) ( NP ( PRP$ its ) ( NNP Mallinckrodt ) ( NNP Inc. ) ( NN subsidiary ) ) ) ) ) ( CC and ) ( VP ( VBD had ) ( NP ( NP ( NNS sales ) ) ( PP ( IN of ) ( NP ( QP ( IN about ) ( CD 30 ) ( CD million ) ) ) ) ( PP ( IN for ) ( NP ( PRP$ its ) ( ADJP ( JJS most ) ( JJ recent ) ) ( NN year ) ) ) ) ) ) ) ) ) )

The maker of animal health and nutrition products said the business Creations Aromatiques of Port Valais Switzerland and Woodside N.Y. is a division of its Mallinckrodt Inc. subsidiary and had sales of about 30 million for its most recent year


( S ( NP-SBJ ( NNP International ) ( NNPS Minerals ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( DT the ) ( NN sale ) ) ( VP ( MD will ) ( VP ( VB allow ) ( S ( NP-SBJ ( NNP Mallinckrodt ) ) ( VP ( TO to ) ( VP ( VB focus ) ( NP ( PRP$ its ) ( NNS resources ) ) ( PP-CLR ( IN on ) ( NP ( NP ( PRP$ its ) ( NN core ) ( NNS businesses ) ) ( PP ( IN of ) ( NP ( NP ( JJ medical ) ( NNS products ) ) ( NP ( NN specialty ) ( NNS chemicals ) ) ( CC and ) ( NP ( NNS flavors ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

International Minerals said the sale will allow Mallinckrodt to focus its resources on its core businesses of medical products specialty chemicals and flavors


( S ( NP-SBJ ( NNP Birtcher ) ( NNP Corp. ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBD signed ) ( NP ( NP ( DT a ) ( JJ definitive ) ( NN agreement ) ) ( PP ( IN with ) ( NP ( NP ( NNP C.R. ) ( NNP Bard ) ( NNP Inc. ) ) ( NP ( NP ( DT a ) ( NAC-LOC ( NNP Murray ) ( NNP Hill ) ( NNP N.J. ) ) ( NN maker ) ) ( PP ( IN of ) ( NP ( NN health-care ) ( NNS products ) ) ) ) ) ) ( PP ( IN for ) ( NP ( NP ( DT the ) ( NN purchase ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( NN company ) ( POS 's ) ) ( NNP Bard\/EMS ) ( NNP Electrosurgery ) ( NN division ) ) ) ( PP ( IN for ) ( NP ( QP ( IN about ) ( CD 11 ) ( CD million ) ) ) ) ) ) ) ) ) ) ) )

Birtcher Corp. said it signed a definitive agreement with C.R. Bard Inc. a Murray Hill N.J. maker of health-care products for the purchase of the company 's Bard\/EMS Electrosurgery division for about 11 million


( S ( NP-SBJ ( NP ( NNP Birtcher ) ) ( NP ( NP ( DT a ) ( NN maker ) ) ( PP ( IN of ) ( NP ( JJ electronic ) ( JJ medical ) ( NN equipment ) ) ) ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ-1 ( DT the ) ( NN transaction ) ) ( VP ( VBZ is ) ( VP ( VBN expected ) ( S ( VP ( TO to ) ( VP ( VB close ) ( PP-TMP ( IN on ) ( CC or ) ( IN before ) ( NP ( NNP Nov. ) ( CD 30 ) ) ) ) ) ) ) ) ) ) ) )

Birtcher a maker of electronic medical equipment said the transaction is expected to close on or before Nov. 30


( S ( S-TPC-1 ( NP-SBJ ( NNP Bard\/EMS ) ) ( VP ( VBD had ) ( NP ( NP ( CD 1988 ) ( NNS sales ) ) ( PP ( IN of ) ( NP ( QP ( IN about ) ( CD 14 ) ( CD million ) ) ) ) ) ) ) ( NP-SBJ ( NNP Birtcher ) ) ( VP ( VBD said ) ) )

Bard\/EMS had 1988 sales of about 14 million Birtcher said


( S ( S-TPC-1 ( NP-SBJ ( NP ( NP ( NNP Japan ) ( POS 's ) ) ( NN production ) ) ( PP ( IN of ) ( NP ( NNS cars ) ( NNS trucks ) ( CC and ) ( NNS buses ) ) ) ( PP-TMP ( IN in ) ( NP ( NNP September ) ) ) ) ( VP ( VBD fell ) ( NP-EXT ( CD 4.1 ) ( NN % ) ) ( PP-DIR ( IN from ) ( ADVP-TMP ( NP ( DT a ) ( NN year ) ) ( IN ago ) ) ) ( PP-DIR ( TO to ) ( NP ( CD 1,120,317 ) ( NNS units ) ) ) ( PP-PRP ( IN because ) ( IN of ) ( NP ( NP ( DT a ) ( NN slip ) ) ( PP ( IN in ) ( NP ( NNS exports ) ) ) ) ) ) ) ( NP-SBJ ( NP ( DT the ) ( NNP Japan ) ( NNP Automobile ) ( NNPS Manufacturers ) ( POS ' ) ) ( NN Association ) ) ( VP ( VBD said ) ) )

Japan 's production of cars trucks and buses in September fell 4.1 % from a year ago to 1,120,317 units because of a slip in exports the Japan Automobile Manufacturers ' Association said


( S ( S ( NP-SBJ-2 ( JJ Domestic ) ( NN demand ) ) ( VP ( VBZ continues ) ( S ( VP ( TO to ) ( VP ( VB grow ) ) ) ) ) ) ( CC but ) ( S ( NP-SBJ-1 ( NP ( PRP$ its ) ( NN contribution ) ) ( PP ( TO to ) ( NP ( JJR higher ) ( NN production ) ) ) ) ( VP ( VBD was ) ( VP ( VBN sapped ) ( PP-TMP ( IN in ) ( NP ( NNP September ) ) ) ( PP ( IN by ) ( NP-LGS ( NP ( NP ( DT the ) ( VBN estimated ) ( ADJP ( CD 2 ) ( NN % ) ) ( NN fall ) ) ( PP ( IN in ) ( NP ( NNS imports ) ) ) ) ( VP ( VBN accompanied ) ( PP-CLR ( IN by ) ( NP ( DT a ) ( VBG growing ) ( NN tendency ) ( SBAR ( IN for ) ( S ( NP-SBJ ( JJ Japanese ) ( NNS manufacturers ) ) ( VP ( TO to ) ( VP ( VB build ) ( NP ( NNS vehicles ) ) ( ADVP-LOC ( RB overseas ) ) ) ) ) ) ) ) ) ) ) ) ) ) ( PP ( VBG according ) ( PP ( TO to ) ( NP ( DT the ) ( NN association ) ) ) ) )

Domestic demand continues to grow but its contribution to higher production was sapped in September by the estimated 2 % fall in imports accompanied by a growing tendency for Japanese manufacturers to build vehicles overseas according to the association


( S ( NP-SBJ ( DT The ) ( NN association ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( JJ domestic ) ( NN demand ) ) ( VP ( VBD grew ) ( NP-ADV ( CD 8.8 ) ( NN % ) ) ( PP-TMP ( IN in ) ( NP ( NNP September ) ) ) ) ) ) ) )

The association said domestic demand grew 8.8 % in September


( S ( S-TPC-1 ( NP-SBJ ( NN Demand ) ) ( VP ( VBZ has ) ( VP ( VBN been ) ( VP ( VBG growing ) ( ADVP-MNR ( RB consistently ) ) ( PP-LOC ( IN under ) ( NP ( NP ( DT the ) ( NN encouragement ) ) ( PP ( IN of ) ( NP ( NN pro-consumption ) ( NN government ) ( NNS policies ) ) ) ) ) ) ) ) ) ( NP-SBJ ( DT an ) ( NN association ) ( NN spokesman ) ) ( VP ( VBD said ) ) )

Demand has been growing consistently under the encouragement of pro-consumption government policies an association spokesman said


( S ( NP-SBJ ( PRP He ) ) ( ADVP ( RB also ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( NP ( DT the ) ( NN introduction ) ) ( PP ( IN of ) ( NP ( DT a ) ( ADJP ( CD 3 ) ( NN % ) ) ( NN consumption ) ( NN tax ) ) ) ( PP-TMP ( IN in ) ( NP ( NNP April ) ) ) ) ( VP ( VBZ has ) ( VP ( VBN helped ) ( NP ( NNS sales ) ) ) ) ) ) ) )

He also said the introduction of a 3 % consumption tax in April has helped sales


( S ( NP-SBJ ( NP ( DT The ) ( JJ new ) ( NN tax ) ) ( FRAG ( IN though ) ( NP ( NP ( DT a ) ( NN source ) ) ( PP ( IN of ) ( NP ( NP ( JJ general ) ( NN resentment ) ) ( PP-LOC ( IN among ) ( NP ( JJ Japanese ) ( NNS taxpayers ) ) ) ) ) ) ) ) ( VP ( VBD replaced ) ( NP ( NP ( DT a ) ( JJR higher ) ( NNS commodities ) ( NN tax ) ) ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( VP ( VBD applied ) ( PP-CLR ( TO to ) ( NP ( NNS automobiles ) ) ) ) ) ) ) ) )

The new tax though a source of general resentment among Japanese taxpayers replaced a higher commodities tax that applied to automobiles


( S ( S-TPC-1 ( NP-SBJ ( JJ Japanese ) ( JJ domestic ) ( NN motor-vehicle ) ( NNS sales ) ) ( VP ( VBD rose ) ( NP-EXT ( CD 12 ) ( NN % ) ) ( PP-TMP ( IN in ) ( NP ( NNP September ) ) ) ) ) ( NP-SBJ ( NP ( DT the ) ( NNP Japan ) ( NNP Automobile ) ( NNPS Dealers ) ( POS ' ) ) ( NN Association ) ) ( VP ( VBD said ) ( ADVP-TMP ( RBR earlier ) ( NP ( DT this ) ( NN month ) ) ) ) )

Japanese domestic motor-vehicle sales rose 12 % in September the Japan Automobile Dealers ' Association said earlier this month


( S ( NP-SBJ ( NP ( DT The ) ( NNS manufacturers ) ( POS ' ) ) ( NN association ) ) ( VP ( MD will ) ( VP ( VB issue ) ( NP ( NP ( NNS statistics ) ) ( PP ( IN on ) ( NP ( NN vehicle ) ( NNS exports ) ) ) ) ( ADVP-TMP ( RB later ) ( NP ( DT this ) ( NN month ) ) ) ) ) )

The manufacturers ' association will issue statistics on vehicle exports later this month


( S ( NP-SBJ ( NP ( NN Production ) ) ( PP ( IN of ) ( NP ( NNS cars ) ) ) ) ( VP ( VBD rose ) ( PP-DIR ( TO to ) ( NP ( CD 801,835 ) ( NNS units ) ) ( PP-TMP ( IN in ) ( NP ( NNP September ) ) ) ) ( NP-ADV ( NP ( DT a ) ( ADJP ( CD 5.5 ) ( NN % ) ) ( NN increase ) ) ( PP ( IN from ) ( ADVP-TMP ( NP ( DT a ) ( NN year ) ) ( RBR earlier ) ) ) ) ) )

Production of cars rose to 801,835 units in September a 5.5 % increase from a year earlier


( S ( NP-SBJ-1 ( JJ Midsized ) ( NNS cars ) ) ( VP ( VBD accounted ) ( PP-CLR ( IN for ) ( NP ( NP ( DT the ) ( JJS greatest ) ( NN growth ) ) ( PP ( IN in ) ( NP ( NNS units ) ) ) ) ) ( S-ADV ( VP ( VBG rising ) ( NP-EXT ( CD 62,872 ) ( NNS units ) ) ( PP-DIR ( TO to ) ( NP ( NP ( CD 134,550 ) ( NNS units ) ) ( CC or ) ( NP ( CD 88 ) ( NN % ) ) ) ) ) ) ) )

Midsized cars accounted for the greatest growth in units rising 62,872 units to 134,550 units or 88 %


( S ( NP-SBJ ( JJ Minicar ) ( NN output ) ) ( VP ( ADVP ( JJR more ) ( IN than ) ) ( VBN tripled ) ) )

Minicar output more than tripled


( S ( NP-SBJ ( NNS Manufacturers ) ) ( VP ( VBD produced ) ( NP ( NP ( NP ( CD 46,835 ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( NNS vehicles ) ) ( SBAR ( WHNP-1 ( WDT which ) ) ( S ( VP ( VBP have ) ( NP ( NP ( NNS engines ) ) ( PP ( IN of ) ( NP ( NP ( CD 500 ) ( JJ cubic ) ( NNS centimeters ) ) ( CC or ) ( NP ( JJR less ) ) ) ) ) ) ) ) ) ) ) ( NP ( NP ( DT an ) ( NN increase ) ) ( PP ( IN of ) ( NP ( CD 31,777 ) ( NNS units ) ) ) ) ) ) )

Manufacturers produced 46,835 of the vehicles which have engines of 500 cubic centimeters or less an increase of 31,777 units


( S ( NP-SBJ ( JJ Total ) ( NN truck ) ( NN production ) ) ( VP ( VBD fell ) ( NP-EXT ( CD 22 ) ( NN % ) ) ( PP-DIR ( IN from ) ( ADVP-TMP ( NP ( DT a ) ( NN year ) ) ( JJR earlier ) ) ) ( PP-DIR ( TO to ) ( NP ( CD 315,546 ) ( NNS units ) ) ) ) )

Total truck production fell 22 % from a year earlier to 315,546 units


( S ( NP-SBJ ( NN Minitruck ) ( NN production ) ) ( VP ( VBD fell ) ( NP-EXT ( CD 13 ) ( NN % ) ) ( PP-DIR ( TO to ) ( NP ( CD 94,243 ) ( NNS units ) ) ) ) )

Minitruck production fell 13 % to 94,243 units


( S ( NP-SBJ ( NN Bus ) ( NN production ) ) ( ADVP ( RB also ) ) ( VP ( VBD slipped ) ( PP-EXT ( IN by ) ( NP ( CD 49 ) ( NN % ) ) ) ( PP-DIR ( IN from ) ( ADVP-TMP ( NP ( DT a ) ( NN year ) ) ( JJR earlier ) ) ) ( PP-DIR ( TO to ) ( NP ( CD 2,936 ) ( NNS units ) ) ) ) )

Bus production also slipped by 49 % from a year earlier to 2,936 units


( S ( NP-SBJ ( DT The ) ( NN association ) ( NN spokesman ) ) ( VP ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( NN bus ) ( NN production ) ) ( VP ( VBZ has ) ( VP ( VBN declined ) ( PP-TMP ( IN since ) ( NP ( NNP January ) ) ) ) ) ) ) ) ( CC but ) ( VP ( MD could ) ( RB n't ) ( VP ( VB offer ) ( NP ( DT an ) ( NN explanation ) ) ( PP-CLR ( IN for ) ( NP ( DT the ) ( NN fall ) ) ) ) ) ) )

The association spokesman said bus production has declined since January but could n't offer an explanation for the fall


( S ( S-TPC-2 ( NP-SBJ ( NP ( NN Auto ) ( NN production ) ) ( PP ( IN for ) ( NP ( NP ( DT the ) ( JJ first ) ( DT half ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( JJ fiscal ) ( NN year ) ) ( SBAR ( WHNP-1 ( WDT which ) ) ( S ( VP ( VBD began ) ( PP-TMP ( IN in ) ( NP ( NNP August ) ) ) ) ) ) ) ) ) ) ) ( VP ( VBD totaled ) ( NP ( CD 6,379,884 ) ( NNS units ) ) ) ) ( NP-SBJ ( DT the ) ( NN association ) ) ( VP ( VBD said ) ) )

Auto production for the first half of the fiscal year which began in August totaled 6,379,884 units the association said


( S ( NP-SBJ ( JJ Half-year ) ( NN production ) ) ( VP ( VBD was ) ( ADVP-PRD ( IN up ) ( NP ( CD 3.4 ) ( NN % ) ) ) ( PP ( VBN compared ) ( PP ( IN with ) ( NP ( NP ( DT the ) ( JJ same ) ( NN period ) ) ( ADVP-TMP ( NP ( DT a ) ( NN year ) ) ( RBR earlier ) ) ) ) ) ) )

Half-year production was up 3.4 % compared with the same period a year earlier


( S ( NP-SBJ ( DT The ) ( NNP Food ) ( CC and ) ( NNP Drug ) ( NNP Administration ) ) ( VP ( VBD banned ) ( NP ( NP ( DT all ) ( NNS imports ) ) ( PP ( IN of ) ( NP ( NNS mushrooms ) ) ) ( PP ( IN from ) ( NP ( NNP China ) ) ) ) ( PP ( IN in ) ( NP ( NP ( NN response ) ) ( PP ( TO to ) ( NP ( NP ( DT a ) ( NN rash ) ) ( PP ( IN of ) ( NP ( NP ( JJ food-poisoning ) ( NNS outbreaks ) ) ( VP ( VBN linked ) ( PP-CLR ( TO to ) ( NP ( VBN canned ) ( JJ Chinese ) ( NNS mushrooms ) ) ) ) ) ) ) ) ) ) ) )

The Food and Drug Administration banned all imports of mushrooms from China in response to a rash of food-poisoning outbreaks linked to canned Chinese mushrooms


( S ( S-TPC-1 ( NP-SBJ ( DT The ) ( NN agency ) ) ( VP ( VBZ has ) ( VP ( VBN concluded ) ( SBAR ( DT that ) ( S ( NP-SBJ ( NN contamination ) ) ( VP ( MD may ) ( VP ( VB be ) ( ADJP-PRD ( JJ widespread ) ) ( PP-LOC ( IN throughout ) ( NP ( NP ( DT the ) ( JJ mushroom-processing ) ( NN industry ) ) ( PP-LOC ( IN in ) ( NP ( NNP China ) ) ) ) ) ) ) ) ) ) ) ) ( NP-SBJ ( DT an ) ( NNP FDA ) ( NN spokesman ) ) ( VP ( VBD said ) ( NP-TMP ( NN yesterday ) ) ) )

The agency has concluded that contamination may be widespread throughout the mushroom-processing industry in China an FDA spokesman said yesterday


( S ( NP-SBJ ( DT The ) ( NN agency ) ) ( VP ( MD wo ) ( RB n't ) ( VP ( VB allow ) ( S ( NP-SBJ ( NP ( NNS mushrooms ) ) ( SBAR ( WHNP-2 ( WDT that ) ) ( S ( VP ( VBD were ) ( VP ( VP ( VBN canned ) ) ( CC or ) ( VP ( VBN packed ) ( PP-MNR ( IN in ) ( NP ( NN brine ) ) ) ) ( PP-LOC ( IN at ) ( NP ( DT any ) ( JJ Chinese ) ( NN plant ) ) ) ) ) ) ) ) ( VP ( TO to ) ( VP ( VB enter ) ( NP ( DT the ) ( NNP U.S. ) ) ( SBAR-TMP ( IN until ) ( S ( NP-SBJ-1 ( JJ satisfactory ) ( JJ sanitation-control ) ( NNS measures ) ) ( VP ( VBP are ) ( VP ( VBN implemented ) ( PP-LOC ( IN in ) ( NP ( NNP China ) ) ) ( S-4 ( VP ( TO to ) ( VP ( VB prevent ) ( NP ( JJ bacterial ) ( NN contamination ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

The agency wo n't allow mushrooms that were canned or packed in brine at any Chinese plant to enter the U.S. until satisfactory sanitation-control measures are implemented in China to prevent bacterial contamination


( S ( PP-TMP ( IN On ) ( NP ( NNP May ) ( CD 19 ) ) ) ( NP-SBJ-1 ( DT the ) ( NNP FDA ) ) ( VP ( VBD began ) ( S ( VP ( VBG detaining ) ( NP ( NP ( JJ Chinese ) ( NNS mushrooms ) ) ( PP-LOC ( IN in ) ( NP ( JJ 68-ounce ) ( NNS cans ) ) ) ) ) ) ( SBAR-TMP ( IN after ) ( S ( NP-SBJ-2 ( NP ( QP ( RBR more ) ( IN than ) ( CD 100 ) ) ( NNS people ) ) ( PP-LOC ( IN in ) ( NP ( NP ( NNP Mississippi ) ) ( NP ( NNP New ) ( NNP York ) ) ( CC and ) ( NP ( NNP Pennsylvania ) ) ) ) ) ( VP ( VBD became ) ( ADJP-PRD ( RB ill ) ) ( PP-PRP ( IN from ) ( S-NOM ( VP ( VBG eating ) ( NP ( VBN tainted ) ( NNS mushrooms ) ) ) ) ) ) ) ) ) )

On May 19 the FDA began detaining Chinese mushrooms in 68-ounce cans after more than 100 people in Mississippi New York and Pennsylvania became ill from eating tainted mushrooms


( S ( PP-LOC ( IN In ) ( NP ( JJ subsequent ) ( NNS tests ) ) ) ( NP-SBJ ( DT the ) ( NN agency ) ) ( VP ( VBD found ) ( NP-2 ( NP ( JJ smaller-size ) ( NNS cans ) ) ( PP ( IN from ) ( NP ( JJ several ) ( JJ Chinese ) ( NNS plants ) ) ) ) ( S-CLR ( VP ( TO to ) ( VP ( VB be ) ( VP ( ADVP-MNR ( RB similarly ) ) ( VBN contaminated ) ) ) ) ) ) )

In subsequent tests the agency found smaller-size cans from several Chinese plants to be similarly contaminated


( S ( NP-SBJ-1 ( DT The ) ( NNS outbreaks ) ) ( VP ( VBD were ) ( VP ( VBN traced ) ( PP-CLR ( TO to ) ( NP ( NP ( NN staphylococcus ) ( NN aureus ) ) ( NP ( NP ( DT a ) ( NN type ) ) ( PP ( IN of ) ( NP ( NNS bacteria ) ) ) ( SBAR ( WHNP-2 ( WDT that ) ) ( S ( VP ( VBZ produces ) ( NP ( NP ( DT a ) ( NN toxin ) ) ( ADJP ( JJ capable ) ( PP ( IN of ) ( S-NOM ( VP ( VBG surviving ) ( NP ( NP ( DT the ) ( JJ high ) ( NNS temperatures ) ) ( VP ( VBN used ) ( PP-LOC ( IN in ) ( S-NOM ( VP ( VBG canning ) ( NP ( NNS vegetables ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

The outbreaks were traced to staphylococcus aureus a type of bacteria that produces a toxin capable of surviving the high temperatures used in canning vegetables


( S ( NP-SBJ ( NP ( DT A ) ( NN recall ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( NNS mushrooms ) ) ( VP ( VBN blamed ) ( PP-CLR ( IN for ) ( NP ( DT the ) ( NN food ) ( NN poisoning ) ) ) ) ) ) ) ( VP ( VBD began ) ( PP-TMP ( IN in ) ( NP ( JJ early ) ( NNP March ) ) ) ) )

A recall of the mushrooms blamed for the food poisoning began in early March


( S ( PP-TMP ( IN In ) ( NP ( CD 1987 ) ) ) ( NP-SBJ ( NNP China ) ) ( VP ( VBD exported ) ( NP ( NP ( QP ( CD 65 ) ( CD million ) ) ( NNS pounds ) ) ( PP ( IN of ) ( NP ( NNS mushrooms ) ) ) ( VP ( VBN valued ) ( PP-CLR ( IN at ) ( NP ( QP ( CD 47 ) ( CD million ) ) ) ) ) ) ( PP-DIR-CLR ( TO to ) ( NP ( DT the ) ( NNP U.S. ) ) ) ) )

In 1987 China exported 65 million pounds of mushrooms valued at 47 million to the U.S.


( S ( NP-SBJ ( DT The ) ( NNS shipments ) ) ( VP ( VBD went ) ( PP-DIR ( ADVP ( RB mostly ) ) ( TO to ) ( NP ( NP ( JJ food-service ) ( NNS distributors ) ) ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( VP ( VBP supply ) ( NP ( NNS pizzerias ) ( CC and ) ( NNS restaurants ) ) ) ) ) ) ) ) )

The shipments went mostly to food-service distributors that supply pizzerias and restaurants


( S ( NP-SBJ ( NP ( DT A ) ( NN spokesman ) ) ( PP ( IN for ) ( NP ( DT the ) ( NNP Chinese ) ( NNP Embassy ) ) ) ) ( ADVP-LOC ( RB here ) ) ( VP ( VBD said ) ( SBAR ( IN that ) ( S ( NP-SBJ ( DT the ) ( NNP Beijing ) ( NN government ) ) ( VP ( VP ( VBZ has ) ( VP ( VBN taken ) ( NP ( JJ many ) ( JJ effective ) ( NNS measures ) ( S ( VP ( TO to ) ( VP ( VB stop ) ( NP ( DT the ) ( NN mushroom ) ( NN contamination ) ) ) ) ) ) ) ) ( CC and ) ( VP ( VBZ is ) ( VP ( ADVP ( RB further ) ) ( VBG investigating ) ( NP ( DT the ) ( VBG underlying ) ( NNS causes ) ) ) ) ) ) ) ) )

A spokesman for the Chinese Embassy here said that the Beijing government has taken many effective measures to stop the mushroom contamination and is further investigating the underlying causes


( S ( NP-SBJ ( PRP He ) ) ( VP ( VBD predicted ) ( SBAR ( S ( NP-SBJ-1 ( DT the ) ( NN problem ) ) ( VP ( MD will ) ( VP ( VB be ) ( VP ( VBN solved ) ( ADVP-TMP ( RB very ) ( RB soon ) ) ) ) ) ) ) ) )

He predicted the problem will be solved very soon


( S ( NP-SBJ ( NP ( NNP Color ) ( NNPS Systems ) ( NNP Technology ) ( NNP Inc. ) ) ( NP-LOC ( NNP Los ) ( NNP Angeles ) ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ-1 ( NP ( PRP$ its ) ( JJ major ) ( NN creditor ) ) ( NP ( NNP General ) ( NNP Electric ) ( NNP Pension ) ( NNP Trust ) ) ) ( VP ( VBD agreed ) ( S ( VP ( TO to ) ( VP ( VB convert ) ( NP ( NP ( QP ( CD 11.8 ) ( CD million ) ) ) ( PP ( IN of ) ( NP ( NP ( NN debt ) ) ( VP ( VBN owed ) ) ) ) ) ( PP-CLR ( IN into ) ( NP ( NP ( CD 25 ) ( NN % ) ) ( PP ( IN of ) ( NP ( NP ( NNP Color ) ( NNP System ) ( POS 's ) ) ( ADJP ( RB fully ) ( VBN diluted ) ) ( JJ common ) ( NN stock ) ) ) ) ) ) ) ) ) ) ) ) )

Color Systems Technology Inc. Los Angeles said its major creditor General Electric Pension Trust agreed to convert 11.8 million of debt owed into 25 % of Color System 's fully diluted common stock


( S ( NP-SBJ ( DT The ) ( NN agreement ) ) ( ADVP ( RB also ) ) ( VP ( VBZ calls ) ( SBAR-CLR ( IN for ) ( S ( NP-SBJ ( NP ( NNP General ) ( NNP Electric ) ( NNP Pension ) ) ( NP ( NP ( DT a ) ( NN unit ) ) ( PP ( IN of ) ( NP ( NNP General ) ( NNP Electric ) ( NNP Co. ) ) ) ) ) ( VP ( TO to ) ( VP ( VB receive ) ( NP ( NP ( QP ( RB as ) ( RB much ) ( IN as ) ( CD 10 ) ) ( NN % ) ) ( PP ( IN of ) ( NP ( NP ( NNP Color ) ( NNP Systems ) ( POS ' ) ) ( VP ( ADVP ( RB fully ) ) ( VBN diluted ) ) ( JJ common ) ( NN stock ) ) ) ( PP ( VBG depending ) ( PP ( IN on ) ( NP ( NP ( DT the ) ( NNS proceeds ) ) ( PP ( IN from ) ( NP ( NP ( DT the ) ( NN sale ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( NNP AEI ) ( NNP Film ) ( NNP Library ) ) ( CC and ) ( NP ( PRP$ its ) ( NNS receivables ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

The agreement also calls for General Electric Pension a unit of General Electric Co. to receive as much as 10 % of Color Systems ' fully diluted common stock depending on the proceeds from the sale of the AEI Film Library and its receivables


( S ( NP-SBJ ( NNP General ) ( NNP Electric ) ( NNP Pension ) ) ( VP ( VBD took ) ( NP ( NP ( NN control ) ) ( PP ( IN of ) ( NP ( DT the ) ( JJ 85-title ) ( NN library ) ) ) ) ( NP-TMP ( JJ last ) ( NN month ) ) ( SBAR-TMP ( IN after ) ( S ( NP-SBJ ( NNP Color ) ( NNPS Systems ) ) ( VP ( VBD defaulted ) ( PP-CLR ( IN on ) ( NP ( DT the ) ( NN loan ) ) ) ) ) ) ) )

General Electric Pension took control of the 85-title library last month after Color Systems defaulted on the loan


( S ( NP-SBJ ( DT The ) ( NN agreement ) ) ( VP ( VBZ depends ) ( PP-CLR ( IN on ) ( NP ( NP ( NNP Color ) ( NNP Systems ) ( POS ' ) ) ( NN ability ) ( S ( VP ( TO to ) ( VP ( VB win ) ( NP ( JJ similar ) ( NNS concessions ) ) ( PP-CLR ( IN from ) ( NP ( JJ other ) ( NNS creditors ) ) ) ) ) ) ) ) ) )

The agreement depends on Color Systems ' ability to win similar concessions from other creditors


( S ( NP-SBJ ( NP ( NNP Buddy ) ( NNP Young ) ) ( NP ( NN president ) ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ-1 ( DT the ) ( NN company ) ) ( VP ( VBZ expects ) ( S ( VP ( TO to ) ( VP ( VB conclude ) ( NP ( NP ( NNS negotiations ) ) ( PP ( IN with ) ( NP ( JJ other ) ( NNS creditors ) ) ) ) ( PP-TMP ( IN within ) ( NP ( CD 60 ) ( NNS days ) ) ) ) ) ) ) ) ) ) )

Buddy Young president said the company expects to conclude negotiations with other creditors within 60 days


( S ( NP-SBJ ( NP ( NNP Color ) ( NNPS Systems ) ) ( SBAR ( WHNP-1 ( WDT which ) ) ( S ( VP ( VBZ converts ) ( NP ( JJ black-and-white ) ( NN film ) ) ( PP-CLR ( TO to ) ( NP ( NN color ) ( NN videotape ) ) ) ) ) ) ) ( VP ( VBD posted ) ( NP ( NP ( DT a ) ( NN loss ) ) ( PP ( IN of ) ( NP ( NP ( QP ( CD 7.1 ) ( CD million ) ) ) ( CC or ) ( NP ( NP ( CD 1.32 ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ) ( PP ( IN on ) ( NP ( NP ( NN revenue ) ) ( PP ( IN of ) ( NP ( QP ( CD 10.6 ) ( CD million ) ) ) ) ) ) ) ( PP-TMP ( IN for ) ( NP ( NP ( DT the ) ( JJ fiscal ) ( NN year ) ) ( VP ( VBD ended ) ( NP-TMP ( NNP June ) ( CD 30 ) ) ) ) ) ) )

Color Systems which converts black-and-white film to color videotape posted a loss of 7.1 million or 1.32 a share on revenue of 10.6 million for the fiscal year ended June 30


( S ( NP-SBJ ( PRP$ Its ) ( NN stock ) ) ( VP ( VBD fell ) ( NP-EXT ( CD 12.5 ) ( NNS cents ) ) ( PP-DIR ( TO to ) ( NP ( CD 2.125 ) ) ) ( PP-LOC ( IN in ) ( NP ( NNP American ) ( NNP Stock ) ( NNP Exchange ) ( NN composite ) ( NN trading ) ) ) ( NP-TMP ( NN yesterday ) ) ) )

Its stock fell 12.5 cents to 2.125 in American Stock Exchange composite trading yesterday


( S ( NP-SBJ ( NP ( NNP Standard ) ( CC & ) ( NNP Poor ) ( POS 's ) ) ( NNP Corp. ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( PRP it ) ) ( VP ( MD would ) ( VP ( VP ( VB add ) ( NP ( NP ( NNP John ) ( NNP H. ) ( NNP Harland ) ( NNP Co. ) ) ( NP ( DT an ) ( NNP Atlanta ) ( NN check ) ( NN printer ) ) ) ( PP ( TO to ) ( NP ( PRP$ its ) ( JJ 500-stock ) ( NN index ) ) ) ) ( ADJP ( JJ effective ) ( PP-TMP ( IN at ) ( NP ( NP ( DT the ) ( NN close ) ) ( PP ( IN of ) ( NP ( VBG trading ) ) ) ( PP-TMP ( IN on ) ( NP ( NNP Wednesday ) ) ) ) ) ) ) ) ) ) ) )

Standard & Poor 's Corp. said it would add John H. Harland Co. an Atlanta check printer to its 500-stock index effective at the close of trading on Wednesday


( S ( NP-SBJ-1 ( NP ( NNP American ) ( NNP Medical ) ( NNP International ) ( NNP Inc. ) ) ( NP ( DT a ) ( NNP New ) ( NNP York ) ( NN hospital ) ( NN operator ) ) ) ( VP ( MD will ) ( VP ( VB be ) ( VP ( VBN deleted ) ( PP-CLR ( IN from ) ( NP ( DT the ) ( NN index ) ) ) ( PP-TMP ( IN at ) ( NP ( DT that ) ( NN time ) ) ) ) ) ) )

American Medical International Inc. a New York hospital operator will be deleted from the index at that time


( S ( NP-SBJ-1 ( NNP American ) ( NNP Medical ) ) ( VP ( VBZ is ) ( VP ( VBG being ) ( VP ( VBN acquired ) ) ) ) )

American Medical is being acquired


( S ( NP-SBJ ( NNP Housing ) ( CC and ) ( NNP Urban ) ( NNP Development ) ( NNP Secretary ) ( NNP Jack ) ( NNP Kemp ) ) ( VP ( VBD called ) ( PP-CLR ( IN on ) ( NP-1 ( DT the ) ( NNP Federal ) ( NNP Reserve ) ( NNP System ) ) ) ( S ( VP ( TO to ) ( VP ( VB lower ) ( NP ( NN interest ) ( NNS rates ) ) ) ) ) ) )

Housing and Urban Development Secretary Jack Kemp called on the Federal Reserve System to lower interest rates


( S ( PP-LOC ( IN In ) ( NP ( NP ( DT a ) ( NN speech ) ) ( PP ( TO to ) ( NP ( DT the ) ( NNP Mortgage ) ( NNPS Bankers ) ( NNP Association ) ) ) ) ) ( NP-SBJ ( NNP Mr. ) ( NNP Kemp ) ) ( VP ( VP ( VBD broke ) ( NP ( NP ( NP ( DT the ) ( NN administration ) ( POS 's ) ) ( JJ public ) ( NN silence ) ) ( PP ( IN on ) ( NP ( DT the ) ( NNP Fed ) ) ) ) ) ( CC and ) ( VP ( VBD complained ) ( SBAR ( IN that ) ( S ( NP-SBJ ( NN interest ) ( NNS rates ) ) ( VP ( VBP are ) ( ADJP-PRD ( RB too ) ( JJ high ) ) ) ) ) ) ) )

In a speech to the Mortgage Bankers Association Mr. Kemp broke the administration 's public silence on the Fed and complained that interest rates are too high


( S ( S-TPC-1 ( NP-SBJ ( PRP I ) ) ( VP ( VBP am ) ( ADJP-PRD ( VBN convinced ) ( SBAR ( IN that ) ( S ( S ( NP-SBJ ( NP ( DT a ) ( JJ monetary ) ( NN policy ) ) ( PP ( IN for ) ( NP ( DT this ) ( NN country ) ) ) ( SBAR ( WHNP-2 ( WDT that ) ) ( S ( VP ( MD would ) ( VP ( VB return ) ( NP ( NN interest ) ( NNS rates ) ) ( PP-CLR ( TO to ) ( NP ( NP ( DT the ) ( JJ historical ) ( NN level ) ) ( PP ( IN of ) ( NP ( NP ( CD 4 ) ( NN % ) ) ( CC or ) ( NP ( CD 5 ) ( NN % ) ) ) ) ) ) ) ) ) ) ) ( VP ( MD would ) ( VP ( VB have ) ( ADVP ( RB not ) ( RB only ) ) ( NP ( NP ( DT an ) ( JJ immediate ) ( NN impact ) ) ( PP ( IN on ) ( NP ( NP ( NN housing ) ( NNS starts ) ) ( NP ( DT the ) ( NN housing ) ( NN stock ) ) ( NP ( NP ( PRP$ our ) ( NN industry ) ) ( PP-LOC ( IN in ) ( NP ( NNP America ) ) ) ) ( NP ( NP ( DT the ) ( NN refurbishing ) ) ( PP ( IN of ) ( NP ( PRP$ our ) ( JJ industrial ) ( NN system ) ) ) ) ) ) ) ) ) ) ( S ( S ( NP-SBJ ( PRP it ) ) ( VP ( MD would ) ( VP ( VB help ) ( NP ( DT the ) ( NNP Third ) ( NNP World ) ( NNS economies ) ) ( ADVP ( RB considerably ) ) ) ) ) ( CC and ) ( S ( NP-SBJ ( PRP it ) ) ( VP ( MD would ) ( ADVP ( RB particularly ) ) ( VP ( VB have ) ( NP ( NP ( DT a ) ( JJ favorable ) ( NN impact ) ) ( PP ( IN upon ) ( NP ( PRP$ our ) ( NN budget ) ( NN deficit ) ) ) ) ) ) ) ) ) ) ) ) ) ( NP-SBJ ( NNP Mr. ) ( NNP Kemp ) ) ( VP ( VBD said ) ) )

I am convinced that a monetary policy for this country that would return interest rates to the historical level of 4 % or 5 % would have not only an immediate impact on housing starts the housing stock our industry in America the refurbishing of our industrial system it would help the Third World economies considerably and it would particularly have a favorable impact upon our budget deficit Mr. Kemp said


( S ( NP-SBJ-1 ( DT The ) ( NNP Fed ) ) ( ADVP-TMP ( RB recently ) ) ( VP ( VBD eased ) ( NP ( NN credit ) ) ( PP-MNR ( IN by ) ( S-NOM ( VP ( VBG lowering ) ( NP ( DT the ) ( NN bellwether ) ( JJ federal ) ( NNS funds ) ( NN interest ) ( NN rate ) ) ( PP-DIR ( TO to ) ( NP ( QP ( CD 8 ) ( CD 3\/4 ) ) ( NN % ) ) ) ( PP-DIR ( IN from ) ( NP ( IN about ) ( CD 9 ) ( NN % ) ) ) ) ) ) ) )

The Fed recently eased credit by lowering the bellwether federal funds interest rate to 8 3\/4 % from about 9 %


( S ( NP-SBJ ( NNP Bush ) ( NN administration ) ( NNS officials ) ) ( VP ( VBP say ) ( SBAR ( S ( NP-SBJ ( NN inflation ) ) ( VP ( VBZ is ) ( PP-PRD ( IN under ) ( NP ( NN control ) ) ) ) ) ) ) )

Bush administration officials say inflation is under control


( S ( PP ( IN With ) ( S-NOM ( NP-SBJ ( JJ economic ) ( NN growth ) ) ( VP ( NN slowing ) ) ) ) ( NP-SBJ ( PRP they ) ) ( VP ( VBP say ) ( SBAR ( S ( NP-SBJ ( PRP they ) ) ( VP ( VBP believe ) ( SBAR ( S ( NP-SBJ ( DT the ) ( NNP Fed ) ) ( VP ( MD should ) ( VP ( VB ease ) ( NP ( NN credit ) ) ( ADVP ( RB even ) ( RB further ) ) ) ) ) ) ) ) ) ) )

With economic growth slowing they say they believe the Fed should ease credit even further


( S ( CC But ) ( PP ( IN for ) ( NP ( DT the ) ( JJS most ) ( NN part ) ) ) ( NP-SBJ-1 ( NNS officials ) ) ( VP ( VBP have ) ( VP ( VBN avoided ) ( S ( VP ( VBG expressing ) ( NP ( DT those ) ( NNS views ) ) ( PP-LOC ( IN in ) ( NP ( NN public ) ) ) ) ) ( S-ADV ( VP ( VBG fearing ) ( SBAR ( S ( NP-SBJ ( PRP they ) ) ( VP ( MD would ) ( VP ( ADVP-MNR ( RB unnecessarily ) ) ( VB antagonize ) ( NP ( DT the ) ( NNP Fed ) ) ) ) ) ) ) ) ) ) )

But for the most part officials have avoided expressing those views in public fearing they would unnecessarily antagonize the Fed


( NP-TTL ( NP ( NN Child ) ( POS 's ) ) ( NN Game ) )

Child 's Game


( S ( S ( S ( NP-SBJ ( EX There ) ) ( VP ( VBD was ) ( NP-PRD ( ADJP ( RB very ) ( JJ slow ) ) ( NN play ) ) ( PP-LOC ( IN on ) ( NP ( DT the ) ( NN market ) ) ) ( NP-TMP ( NN today ) ) ) ) ( S ( NP-SBJ ( PRP They ) ) ( VP ( VBD were ) ( VP ( VBG selling ) ( CC and ) ( VBG buying ) ( PP-MNR ( IN by ) ( NP ( NNS halves ) ) ) ) ) ) ) ( S ( PP ( RB Instead ) ( IN of ) ( S-NOM ( VP ( VBG trading ) ( PP-MNR ( IN like ) ( NP ( NNPS Bears ) ( CC and ) ( NNPS Bulls ) ) ) ) ) ) ( NP-SBJ-1 ( PRP They ) ) ( VP ( VBD behaved ) ( PP-MNR ( IN like ) ( NP ( NNS cubs ) ( CC and ) ( NNS calves ) ) ) ) ) )

There was very slow play on the market today They were selling and buying by halves Instead of trading like Bears and Bulls They behaved like cubs and calves


( NP ( NNP George ) ( NNP O. ) ( NNP Ludcke ) )

George O. Ludcke


Politrick


( S ( NP-SBJ ( PRP I ) ) ( VP ( VBP 've ) ( VP ( VBN learned ) ( NP ( NP ( CD one ) ( NN thing ) ) ) ( PP ( IN from ) ( NP ( NNS candidates ) ) ) ( NP-1 ( NP ( NP ( DT A ) ( NN technique ) ) ( VP ( ADVP ( RB so ) ( RB deftly ) ) ( VBN done ) ) ) ( S ( SBAR ( IN If ) ( S ( NP-SBJ-2 ( DT a ) ( NN question ) ) ( VP ( MD ca ) ( RB n't ) ( VP ( VB be ) ( VP ( VBN answered ) ) ) ) ) ) ( VP ( ADVP-MNR ( RB Strongly ) ) ( VB answer ) ( NP ( DT an ) ( JJ unasked ) ( CD one ) ) ) ) ) ) ) )

I 've learned one thing from candidates A technique so deftly done If a question ca n't be answered Strongly answer an unasked one


Mimi Kay


Foresight


( S ( NP-SBJ-1 ( PRP We ) ) ( VP ( VBP need ) ( S ( VP ( TO to ) ( VP ( VB get ) ( S ( NP-SBJ ( DT a ) ( NN space ) ( NN platform ) ) ( VP ( VBN set ) ( PRT ( RP up ) ) ( ADVP-TMP ( RB soon ) ) ) ) ) ) ( SBAR-PRP ( RB just ) ( IN in ) ( NN case ) ( S ( NP-SBJ-2 ( PRP we ) ) ( VP ( VBP want ) ( S ( VP ( TO to ) ( VP ( VB step ) ( PRT ( RP out ) ) ( PP-PRP ( IN for ) ( NP ( NP ( DT a ) ( NN breath ) ) ( PP ( IN of ) ( NP ( JJ fresh ) ( NN air ) ) ) ) ) ) ) ) ) ) ) ) ) )

We need to get a space platform set up soon just in case we want to step out for a breath of fresh air


Ivern Ball


( S ( NP-SBJ ( NP ( NNP McDonald ) ( POS 's ) ) ( NNP Corp. ) ) ( VP ( VBD said ) ( SBAR ( S ( S ( NP-SBJ ( JJ third-quarter ) ( NNS earnings ) ) ( VP ( VBD rose ) ( NP-EXT ( CD 14 ) ( NN % ) ) ( PP ( IN on ) ( NP ( DT a ) ( JJ hefty ) ( NNS sales ) ( NN gain ) ) ) ) ) ( CC but ) ( S ( NP-SBJ ( JJ domestic ) ( NNS franchisees ) ) ( ADVP ( RB apparently ) ) ( VP ( VBD did ) ( RB n't ) ( VP ( VB partake ) ( PP-CLR ( IN of ) ( NP ( DT the ) ( NN improvement ) ) ) ) ) ) ) ) ) )

McDonald 's Corp. said third-quarter earnings rose 14 % on a hefty sales gain but domestic franchisees apparently did n't partake of the improvement


( S ( NP-SBJ ( NP ( DT The ) ( NN world ) ( POS 's ) ) ( JJS largest ) ( NN fast-food ) ( NN chain ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( JJ net ) ( NN income ) ) ( VP ( VBD rose ) ( PP-DIR ( TO to ) ( NP ( NP ( QP ( CD 217.9 ) ( CD million ) ) ) ( CC or ) ( NP ( NP ( CD 59 ) ( NNS cents ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ) ( PP-DIR ( IN from ) ( NP ( NP ( QP ( CD 191.3 ) ( CD million ) ) ) ( CC or ) ( NP ( NP ( CD 51 ) ( NNS cents ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ( NP-TMP ( DT a ) ( NN year ) ( IN ago ) ) ) ) ) ) ) )

The world 's largest fast-food chain said net income rose to 217.9 million or 59 cents a share from 191.3 million or 51 cents a share a year ago


( S ( PP-TMP ( IN In ) ( NP ( DT the ) ( JJS latest ) ( NN period ) ) ) ( NP-SBJ ( DT the ) ( NN company ) ) ( VP ( VBD had ) ( NP ( NP ( NP ( DT an ) ( NN average ) ) ( PP ( IN of ) ( NP ( QP ( CD 370.8 ) ( CD million ) ) ( NNS shares ) ) ) ) ( PP ( NP-ADV ( QP ( CD 5.6 ) ( CD million ) ) ( NNS shares ) ) ( IN below ) ( NP ( NP ( JJ last ) ( NN year ) ( POS 's ) ) ( NN level ) ) ) ) ) )

In the latest period the company had an average of 370.8 million shares 5.6 million shares below last year 's level


( S ( NP-SBJ ( NN Revenue ) ) ( VP ( VBD rose ) ( NP-EXT ( CD 12 ) ( NN % ) ) ( PP-DIR ( TO to ) ( NP ( QP ( CD 1.63 ) ( CD billion ) ) ) ) ( PP-DIR ( IN from ) ( NP ( QP ( CD 1.46 ) ( CD billion ) ) ) ) ) )

Revenue rose 12 % to 1.63 billion from 1.46 billion


( S ( NP-SBJ ( NP ( JJ Systemwide ) ( NNS sales ) ) ( SBAR ( WHNP-1 ( WDT which ) ) ( S ( VP ( VBP include ) ( NP ( NNS sales ) ( PP-LOC ( IN at ) ( NP ( ADJP ( NN franchisee ) ( CONJP ( RB as ) ( RB well ) ( IN as ) ) ( JJ company-owned ) ) ( NNS stores ) ) ) ) ) ) ) ) ( VP ( VBD totaled ) ( NP ( NP ( QP ( CD 4.59 ) ( CD billion ) ) ) ( PP ( VBN compared ) ( PP ( IN with ) ( NP ( QP ( CD 4.2 ) ( CD billion ) ) ) ) ) ) ) )

Systemwide sales which include sales at franchisee as well as company-owned stores totaled 4.59 billion compared with 4.2 billion


( S ( CC But ) ( NP-SBJ ( NP ( NNS sales ) ) ( PP ( IN for ) ( NP ( NNP U.S. ) ( NNS franchisees ) ) ) ) ( VP ( VBD were ) ( ADJP-PRD ( JJ flat ) ) ( ADVP ( IN at ) ( RB best ) ) ( PP-1 ( IN on ) ( NP ( DT a ) ( JJ per-store ) ( NN basis ) ) ) ( PP ( IN despite ) ( NP ( JJ weak ) ( CD 1988 ) ( NNS figures ) ) ) ) )

But sales for U.S. franchisees were flat at best on a per-store basis despite weak 1988 figures


( S ( PP ( VBN Compared ) ( PP ( IN with ) ( NP ( NP ( DT the ) ( JJ first ) ( CD nine ) ( NNS months ) ) ( PP ( IN of ) ( NP ( JJ last ) ( NN year ) ) ) ) ) ) ( NP-SBJ ( NP ( JJ average ) ( NN franchisee ) ( NN store ) ( NNS sales ) ) ( NP-TMP ( DT this ) ( NN year ) ) ) ( VP ( VBD were ) ( PP-PRD ( IN down ) ( NP ( QP ( RB nearly ) ( CD 3,200 ) ) ) ) ( S-ADV ( VP ( VBG reflecting ) ( NP ( NP ( DT a ) ( JJ fierce ) ( VBG discounting ) ( NN war ) ) ( PP-LOC ( IN among ) ( NP ( NN fast-food ) ( NNS chains ) ) ) ) ) ) ) )

Compared with the first nine months of last year average franchisee store sales this year were down nearly 3,200 reflecting a fierce discounting war among fast-food chains


( S ( SBAR-ADV ( IN Since ) ( S ( NP-SBJ ( NP ( NNP McDonald ) ( POS 's ) ) ( NN menu ) ( NNS prices ) ) ( VP ( VBD rose ) ( NP-TMP ( DT this ) ( NN year ) ) ) ) ) ( NP-SBJ ( DT the ) ( JJ actual ) ( NN decline ) ) ( VP ( MD may ) ( VP ( VB have ) ( VP ( VBN been ) ( ADJP-PRD ( JJR more ) ) ) ) ) )

Since McDonald 's menu prices rose this year the actual decline may have been more


( S ( NP-SBJ ( NNP McDonald ) ( POS 's ) ) ( VP ( VBD closed ) ( PP-CLR ( IN at ) ( NP ( CD 31.375 ) ) ) ( ADVP ( IN up ) ( NP ( CD 1 ) ) ) ( PP-LOC ( IN in ) ( NP ( NNP New ) ( NNP York ) ( NNP Stock ) ( NNP Exchange ) ( NN composite ) ( NN trading ) ) ) ( NP-TMP ( NN yesterday ) ) ) )

McDonald 's closed at 31.375 up 1 in New York Stock Exchange composite trading yesterday


( S ( SBAR-ADV ( IN While ) ( S ( NP-SBJ-1 ( NNS franchisees ) ) ( VP ( VBD were ) ( VP ( VBG having ) ( NP ( NP ( DT a ) ( JJ tough ) ( NN time ) ) ( S-NOM ( VP ( VBG holding ) ( NP ( NNS sales ) ) ) ) ) ) ) ) ) ( NP-SBJ ( NP ( NN McDonald ) ( POS 's ) ) ( JJ company-operated ) ( NNS stores ) ) ( VP ( VBD posted ) ( NP ( NP ( JJ hefty ) ( NNS gains ) ) ( PP-TMP ( IN for ) ( NP ( DT the ) ( CD nine ) ( NNS months ) ) ) ) ( PP ( IN with ) ( S-NOM ( NP-SBJ ( NP ( NNS sales ) ) ( PP ( IN per ) ( NP ( JJ company-operated ) ( NN unit ) ) ) ) ( VP ( VBG rising ) ( NP-EXT ( CD 20,000 ) ) ) ) ) ) )

While franchisees were having a tough time holding sales McDonald 's company-operated stores posted hefty gains for the nine months with sales per company-operated unit rising 20,000


( S ( NP-SBJ ( CD One ) ( NN analyst ) ) ( VP ( VBD noted ) ( SBAR ( IN that ) ( S ( NP-SBJ ( DT the ) ( NN company ) ) ( ADVP ( RB often ) ) ( VP ( VBZ has ) ( NP ( NP ( JJR better ) ( NN store ) ( NNS locations ) ) ( SBAR ( IN than ) ( SINV ( VBP do ) ( NP-SBJ ( PRP$ its ) ( NNS franchisees ) ) ) ) ) ( ADVP ( RB thus ) ( S ( VP ( VBG aiding ) ( NP ( JJ promotional ) ( NNS efforts ) ) ) ) ) ) ) ) ) )

One analyst noted that the company often has better store locations than do its franchisees thus aiding promotional efforts


( S ( PP ( IN On ) ( NP ( NN average ) ) ) ( PP-TMP ( IN in ) ( NP ( DT the ) ( JJS latest ) ( CD nine ) ( NNS months ) ) ) ( NP-SBJ ( NP ( JJ company-operated ) ( NNS units ) ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( NNP U.S. ) ) ) ) ( VP ( VBD had ) ( NP ( NP ( CD 90,552 ) ( RBR more ) ) ( PP ( IN in ) ( NP ( NNS sales ) ) ) ( SBAR ( IN than ) ( SINV ( VBD did ) ( NP-SBJ ( VBN franchised ) ( NNS outlets ) ) ) ) ) ) )

On average in the latest nine months company-operated units in the U.S. had 90,552 more in sales than did franchised outlets


( S ( NP-SBJ ( EX There ) ) ( VP ( VBP are ) ( NP-PRD ( NP ( QP ( RBR more ) ( IN than ) ( CD three ) ( NNS times ) ( IN as ) ( JJ many ) ) ( VBN franchised ) ( JJ domestic ) ( NNS outlets ) ) ( SBAR ( IN as ) ( S ( NP-SBJ ( EX there ) ) ( VP ( VBP are ) ( NP-PRD ( NN company ) ( NNS stores ) ) ) ) ) ) ) )

There are more than three times as many franchised domestic outlets as there are company stores


( S ( NP-SBJ ( NP ( NN Profit ) ( NNS margins ) ) ( PP-LOC ( IN at ) ( NP ( NNP U.S. ) ( JJ company-owned ) ( NNS stores ) ) ) ( PP-TMP ( IN in ) ( NP ( DT the ) ( NN quarter ) ) ) ) ( VP ( VP ( VBD were ) ( ADVP-PRD ( IN up ) ( NP ( QP ( RB nearly ) ( CD 1 ) ) ( NN % ) ) ) ) ( SBAR ( WHNP-1 ( WDT which ) ) ( S ( NP-SBJ ( DT the ) ( NN company ) ) ( VP ( VBD attributed ) ( PP ( IN in ) ( NP ( NN part ) ) ) ( PP-CLR ( TO to ) ( NP ( JJR lower ) ( NN food ) ( NNS costs ) ) ) ) ) ) ) )

Profit margins at U.S. company-owned stores in the quarter were up nearly 1 % which the company attributed in part to lower food costs


( S ( NP-SBJ ( NNP Prudential-Bache ) ( NNPS Securities ) ( NN analyst ) ( NNP Leslie ) ( NNP Steppel ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ-1 ( VBN reduced ) ( NN labor ) ( NNS costs ) ) ( VP ( VBD helped ) ( S ( VP ( NN boost ) ( NP ( NNS margins ) ) ) ) ( SBAR-ADV ( IN although ) ( S ( NP-SBJ ( PRP she ) ) ( VP ( VBD doubted ) ( SBAR ( S ( NP-SBJ ( NP ( DT that ) ( NN kind ) ) ( PP ( IN of ) ( NP ( NN performance ) ) ) ) ( VP ( VBZ is ) ( ADJP-PRD ( JJ sustainable ) ) ) ) ) ) ) ) ) ) ) ) )

Prudential-Bache Securities analyst Leslie Steppel said reduced labor costs helped boost margins although she doubted that kind of performance is sustainable


( S ( S-ADV ( VP ( VBG Calling ) ( S ( NP-SBJ ( NNS sales ) ) ( ADJP-PRD ( RB still ) ( RB relatively ) ( JJ soft ) ) ) ) ) ( NP-SBJ-1 ( NNP Ms. ) ( NNP Steppel ) ) ( VP ( VBZ believes ) ( SBAR ( IN that ) ( S ( PP ( IN in ) ( NP ( JJ real ) ( NNS terms ) ) ) ( NP-SBJ ( NNP U.S. ) ( NNS sales ) ) ( VP ( VBD slipped ) ( NP-EXT ( QP ( CD 3 ) ( CD 1\/2 ) ) ( NN % ) ) ( PP-DIR ( TO to ) ( NP ( CD 4 ) ( NN % ) ) ) ( PP-LOC ( IN at ) ( NP ( JJ company-operated ) ( NNS stores ) ) ) ( PP-TMP ( IN in ) ( NP ( DT the ) ( NN quarter ) ) ) ) ) ) ) )

Calling sales still relatively soft Ms. Steppel believes that in real terms U.S. sales slipped 3 1\/2 % to 4 % at company-operated stores in the quarter


( S ( S-ADV ( ADVP ( RB Apparently ) ) ( VP ( VBG acknowledging ) ( NP ( NP ( JJR weaker ) ( NNP U.S. ) ( NNS sales ) ) ( ADVP-LOC ( JJ systemwide ) ) ) ) ) ( NP-SBJ-2 ( NNP McDonald ) ( POS 's ) ) ( VP ( VBD vowed ) ( S ( VP ( TO to ) ( VP ( VB use ) ( NP-3 ( PRP$ our ) ( NN size ) ( CC and ) ( NN muscle ) ) ( S-CLR ( VP ( TO to ) ( VP ( VB do ) ( NP ( NP ( PDT all ) ) ( SBAR ( WHNP-1 ( DT that ) ) ( S ( VP ( VBZ is ) ( ADJP-PRD ( JJ necessary ) ) ( S-PRP ( VP ( TO to ) ( VP ( VB build ) ( NP ( DT the ) ( NN brand ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Apparently acknowledging weaker U.S. sales systemwide McDonald 's vowed to use our size and muscle to do all that is necessary to build the brand


( S ( ADVP-LOC ( RB Overseas ) ) ( NP-SBJ ( DT both ) ( NP ( NNS franchisees ) ) ( CC and ) ( NP ( DT the ) ( NN company ) ) ) ( VP ( VBD performed ) ( ADVP-MNR ( ADVP ( RB substantially ) ( RB better ) ) ( PP ( IN than ) ( ADVP-TMP ( NP ( DT a ) ( NN year ) ) ( IN ago ) ) ) ) ) )

Overseas both franchisees and the company performed substantially better than a year ago


( S ( NP-SBJ-1 ( NP ( JJ Third-quarter ) ( NNS sales ) ) ( PP-LOC ( IN in ) ( NP ( NNP Europe ) ) ) ) ( VP ( VBD were ) ( ADJP-PRD ( RB exceptionally ) ( JJ strong ) ) ( S-ADV ( VP ( VBN boosted ) ( PP ( IN by ) ( NP-LGS ( NP ( JJ promotional ) ( NNS programs ) ) ( CC and ) ( NP ( JJ new ) ( NNS products ) ) ) ) ) ) ( SBAR-ADV ( IN although ) ( S ( NP-SBJ ( JJR weaker ) ( JJ foreign ) ( NNS currencies ) ) ( VP ( VBD reduced ) ( NP ( NP ( DT the ) ( NN company ) ( POS 's ) ) ( NNS earnings ) ) ) ) ) ) )

Third-quarter sales in Europe were exceptionally strong boosted by promotional programs and new products although weaker foreign currencies reduced the company 's earnings


( S ( NP-SBJ ( NNP McDonald ) ( POS 's ) ) ( VP ( VBD said ) ( SBAR ( IN that ) ( S ( NP-SBJ ( JJ systemwide ) ( NNS sales ) ) ( VP ( MD would ) ( VP ( VB have ) ( VP ( VBN been ) ( ADJP-PRD ( NP-ADV ( QP ( CD 115 ) ( CD million ) ) ) ( JJR greater ) ) ( SBAR-ADV ( SINV ( VBD had ) ( NP-SBJ ( CD 1988 ) ( NN exchange ) ( NNS rates ) ) ( VP ( VBD remained ) ( PP-CLR ( IN in ) ( NP ( NN effect ) ) ) ) ) ) ) ) ) ) ) ) )

McDonald 's said that systemwide sales would have been 115 million greater had 1988 exchange rates remained in effect


( SINV ( S-TPC-1 ( S-TMP ( VP ( VBG Going ) ( PP-CLR ( IN into ) ( NP ( DT the ) ( JJ fourth ) ( NN quarter ) ) ) ) ) ( NP-SBJ ( DT the ) ( NNS sales ) ( NN comparison ) ) ( VP ( MD will ) ( VP ( VB be ) ( ADJP-PRD ( RBR more ) ( JJ difficult ) ) ) ) ) ( VP ( VBN predicted ) ) ( NP-SBJ ( NP ( NN restaurant ) ( NN analyst ) ( NNP Howard ) ( NNP Hansen ) ) ( PP ( IN of ) ( NP ( NNP Kidder ) ( NNP Peabody ) ( CC & ) ( NNP Co ) ) ) ) )

Going into the fourth quarter the sales comparison will be more difficult predicted restaurant analyst Howard Hansen of Kidder Peabody & Co


( S ( S-ADV ( VP ( VBG Reflecting ) ( NP ( NP ( JJR better ) ( NN growth ) ( NNS prospects ) ) ( ADVP-LOC ( RB abroad ) ) ) ) ) ( NP-SBJ-1 ( NNP McDonald ) ( POS 's ) ) ( VP ( VBD noted ) ( SBAR ( IN that ) ( S ( PP-TMP ( IN as ) ( PP ( IN of ) ( NP ( NNP Sept. ) ( CD 30 ) ) ) ) ( NP-SBJ ( NP ( JJR more ) ( NNS stores ) ) ) ( VP ( VBD were ) ( PP-PRD ( IN under ) ( NP ( NN construction ) ) ) ( ADVP-LOC ( RB overseas ) ) ( PP-2 ( IN than ) ( ADVP-TMP ( NP ( DT a ) ( NN year ) ) ( IN ago ) ) ) ( SBAR-ADV ( IN while ) ( S ( NP-SBJ ( DT the ) ( NN opposite ) ) ( VP ( VBD was ) ( ADJP-PRD ( JJ true ) ) ( PP ( IN for ) ( NP ( JJ domestic ) ( NN expansion ) ) ) ) ) ) ) ) ) ) )

Reflecting better growth prospects abroad McDonald 's noted that as of Sept. 30 more stores were under construction overseas than a year ago while the opposite was true for domestic expansion


( S ( PP-TMP ( IN At ) ( NP ( NP ( DT the ) ( NN end ) ) ( PP ( IN of ) ( NP ( DT the ) ( JJ third ) ( NN quarter ) ) ) ) ) ( NP-SBJ-1 ( NNP McDonald ) ( POS 's ) ) ( VP ( VBD had ) ( S ( NP-SBJ ( CD 10,873 ) ( NNS units ) ) ( VP ( VBG operating ) ( S-LOC ( ADJP-PRD ( JJ world-wide ) ) ) ) ) ) )

At the end of the third quarter McDonald 's had 10,873 units operating world-wide


( S ( PP-TMP ( IN In ) ( NP ( DT the ) ( CD nine ) ( NNS months ) ) ) ( NP-SBJ ( NNS earnings ) ) ( VP ( VBD rose ) ( NP-EXT ( CD 12 ) ( NN % ) ) ( PP-DIR ( TO to ) ( NP ( NP ( QP ( CD 555.6 ) ( CD million ) ) ) ( CC or ) ( NP ( NP ( CD 1.49 ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ) ( PP-DIR ( IN from ) ( NP ( NP ( QP ( CD 494.4 ) ( CD million ) ) ) ( CC or ) ( NP ( NP ( CD 1.31 ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ( ADVP-TMP ( NP ( DT a ) ( NN year ) ) ( RBR earlier ) ) ) ) )

In the nine months earnings rose 12 % to 555.6 million or 1.49 a share from 494.4 million or 1.31 a share a year earlier


( S ( NP-SBJ ( NN Revenue ) ) ( VP ( VBD rose ) ( NP-EXT ( CD 11 ) ( NN % ) ) ( PP-DIR ( TO to ) ( NP ( QP ( CD 4.56 ) ( CD billion ) ) ) ) ( PP-DIR ( IN from ) ( NP ( QP ( CD 4.12 ) ( CD billion ) ) ) ) ) )

Revenue rose 11 % to 4.56 billion from 4.12 billion


( S ( NP-SBJ ( NNP Eaton ) ( NNP Corp. ) ) ( VP ( VBD had ) ( NP ( NP ( DT a ) ( ADJP ( CD 26 ) ( NN % ) ) ( NN drop ) ) ( PP-LOC ( IN in ) ( NP ( JJ third-quarter ) ( NN profit ) ) ) ) ( PP ( ADVP ( RB mainly ) ) ( IN because ) ( IN of ) ( NP ( NP ( JJR lower ) ( NNS sales ) ) ( PP ( IN of ) ( NP ( NP ( NN truck ) ( NNS parts ) ) ( NP ( PRP$ its ) ( ADJP ( ADJP ( JJS largest ) ) ( CC and ) ( ADJP ( RBS most ) ( JJ profitable ) ) ) ( JJ single ) ( NN business ) ) ) ) ) ) ) )

Eaton Corp. had a 26 % drop in third-quarter profit mainly because of lower sales of truck parts its largest and most profitable single business


( SINV ( S-TPC-2 ( NP-SBJ-1 ( NP ( NNS Sales ) ) ( PP ( IN of ) ( NP ( NN medium ) ( CC and ) ( JJ heavy-duty ) ( NNS trucks ) ) ) ) ( VP ( VBP continue ) ( S ( VP ( TO to ) ( VP ( VB lag ) ( NP ( JJ previous-year ) ( NNS rates ) ) ) ) ) ( S-ADV ( VP ( VBG leading ) ( S ( NP-SBJ ( NNP Eaton ) ) ( VP ( TO to ) ( VP ( VB expect ) ( S ( NP-SBJ ( JJ fourth-quarter ) ( JJ net ) ( NN income ) ) ( VP ( TO to ) ( VP ( VB fall ) ( PP-LOC ( IN below ) ( NP ( JJ year-earlier ) ( NNS levels ) ) ) ) ) ) ) ) ) ) ) ) ) ( VP ( VBD said ) ) ( NP-SBJ ( NP ( NNP Stephen ) ( NNP R. ) ( NNP Hardis ) ) ( NP ( NP ( NN vice ) ( NN chairman ) ) ( CC and ) ( NP ( NN chief ) ( JJ financial ) ( CC and ) ( JJ administrative ) ( NN officer ) ) ) ) )

Sales of medium and heavy-duty trucks continue to lag previous-year rates leading Eaton to expect fourth-quarter net income to fall below year-earlier levels said Stephen R. Hardis vice chairman and chief financial and administrative officer


( S ( NP-SBJ-1 ( PRP He ) ) ( VP ( VBD declined ) ( S ( VP ( TO to ) ( VP ( VB make ) ( NP ( DT a ) ( JJ specific ) ( NNS earnings ) ( NN estimate ) ) ) ) ) ) )

He declined to make a specific earnings estimate


( S ( NP-SBJ ( JJ Third-quarter ) ( NN net ) ) ( VP ( VBD was ) ( NP-PRD ( NP ( QP ( CD 40 ) ( CD million ) ) ) ( CC or ) ( NP ( NP ( CD 1.04 ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ( PP-DIR ( IN from ) ( NP ( NP ( QP ( CD 54.4 ) ( CD million ) ) ) ( CC or ) ( NP ( NP ( CD 1.47 ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ( ADVP-TMP ( NP ( DT a ) ( NN year ) ) ( IN ago ) ) ) ) )

Third-quarter net was 40 million or 1.04 a share from 54.4 million or 1.47 a share a year ago


( S ( NP-SBJ ( NNS Sales ) ) ( VP ( VBD rose ) ( NP-EXT ( CD 2.8 ) ( NN % ) ) ( PP-DIR ( TO to ) ( NP ( QP ( CD 864.1 ) ( CD million ) ) ) ) ( PP-DIR ( IN from ) ( NP ( QP ( CD 840.4 ) ( CD million ) ) ) ) ) )

Sales rose 2.8 % to 864.1 million from 840.4 million


( SINV ( S-TPC-1 ( NP-SBJ ( DT The ) ( NN quarter ) ( NN net ) ) ( VP ( VBD was ) ( PP-PRD ( IN below ) ( NP ( NN analyst ) ( NNS expectations ) ) ) ( SBAR-PRP ( ADVP ( RB mainly ) ) ( IN because ) ( S ( NP-SBJ ( NNS truck-parts ) ( NNS sales ) ) ( VP ( VBD did ) ( RB n't ) ( VP ( VB rebound ) ( PP-TMP ( IN in ) ( NP ( NNP September ) ) ) ( PP-CLR ( IN from ) ( NP ( DT the ) ( NN summer ) ( NN doldrums ) ) ) ( SBAR-ADV ( IN as ) ( S ( NP-SBJ ( PRP they ) ) ( ADVP ( RB usually ) ) ( VP ( VBP do ) ) ) ) ) ) ) ) ) ) ( VP ( VBD said ) ) ( NP-SBJ ( NP ( NNP Patrick ) ( NNP E. ) ( NNP Sheridan ) ) ( NP ( NP ( NN analyst ) ) ( PP ( IN with ) ( NP ( NNP McDonald ) ( CC & ) ( NNP Co ) ) ) ) ) )

The quarter net was below analyst expectations mainly because truck-parts sales did n't rebound in September from the summer doldrums as they usually do said Patrick E. Sheridan analyst with McDonald & Co


( S ( NP-SBJ ( NP ( NNP Mr. ) ( NNP Sheridan ) ) ( SBAR ( WHNP-1 ( WP who ) ) ( S ( VP ( VBD had ) ( VP ( VBN been ) ( VP ( VBG expecting ) ( NP ( NP ( NN quarter ) ( NN profit ) ) ( PP ( IN of ) ( NP ( NP ( QP ( IN about ) ( CD 1.25 ) ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ) ) ) ) ) ) ) ( VP ( VBZ says ) ( SBAR ( S ( NP-SBJ ( PRP he ) ) ( VP ( VBZ is ) ( VP ( VBG reducing ) ( NP ( NP ( PRP$ his ) ( NN estimate ) ) ( PP ( IN for ) ( NP ( DT the ) ( NN year ) ) ) ) ( PP-DIR ( TO to ) ( NP ( NP ( DT the ) ( NN area ) ) ( PP ( IN of ) ( NP ( NP ( CD 5.70 ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ) ) ( PP-DIR ( IN from ) ( NP ( NP ( PRP$ his ) ( JJ previous ) ( NN estimate ) ) ( PP ( IN of ) ( NP ( CD 6.10 ) ) ) ) ) ) ) ) ) ) )

Mr. Sheridan who had been expecting quarter profit of about 1.25 a share says he is reducing his estimate for the year to the area of 5.70 a share from his previous estimate of 6.10


( S ( NP-SBJ ( NP ( NNP Eli ) ( NNP Lustgarten ) ) ( PP ( IN of ) ( NP ( NNP PaineWebber ) ( NNP Inc. ) ) ) ( SBAR ( WHNP-1 ( WP who ) ) ( S ( ADVP-TMP ( NP ( NP ( DT a ) ( NN couple ) ) ( PP ( IN of ) ( NP ( NNS weeks ) ) ) ) ( IN ago ) ) ( VP ( VBN reduced ) ( NP ( PRP$ his ) ( CD 1989 ) ( NN estimate ) ) ( PP-DIR ( TO to ) ( NP ( NP ( CD 5.70 ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ( PP-PRP ( IN because ) ( IN of ) ( NP ( DT the ) ( NN weakening ) ( NN truck ) ( NN market ) ) ) ) ) ) ) ( VP ( VBZ says ) ( SBAR ( S ( NP-SBJ ( PRP he ) ) ( VP ( MD will ) ( VP ( VB make ) ( NP ( NP ( DT another ) ( NN cut ) ) ( PP ( TO to ) ( NP ( NP ( IN about ) ( CD 5.50 ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ) ( PP-PRP ( IN in ) ( NP ( NP ( NN light ) ) ( PP ( IN of ) ( NP ( DT the ) ( JJ third-quarter ) ( NN report ) ) ) ) ) ) ) ) ) ) )

Eli Lustgarten of PaineWebber Inc. who a couple of weeks ago reduced his 1989 estimate to 5.70 a share because of the weakening truck market says he will make another cut to about 5.50 a share in light of the third-quarter report


( S ( NP-SBJ ( PRP He ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( NP ( NP ( NNP Eaton ) ( POS 's ) ) ( NN quarter ) ( NN profit ) ( NN margin ) ) ( PP ( IN on ) ( NP ( NNS controls ) ) ) ) ( VP ( VBD was ) ( ADJP-PRD ( ADJP ( JJR lower ) ) ( SBAR ( IN than ) ( S ( NP-SBJ ( PRP he ) ) ( VP ( VBD anticipated ) ) ) ) ) ) ) ) ) )

He said Eaton 's quarter profit margin on controls was lower than he anticipated


( S ( NP-SBJ ( NNP Eaton ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( NP ( NNS sales ) ) ( PP ( IN of ) ( NP ( NP ( NN truck ) ( NNS axles ) ) ( NP ( NNS transmissions ) ) ( CC and ) ( NP ( JJ other ) ( NNS parts ) ) ) ) ) ( VP ( VBD fell ) ( NP-EXT ( CD 7.2 ) ( NN % ) ) ( PP-DIR ( TO to ) ( NP ( QP ( CD 295 ) ( CD million ) ) ) ) ) ) ) ) )

Eaton said sales of truck axles transmissions and other parts fell 7.2 % to 295 million


( S ( NP-SBJ ( NP ( NNS Sales ) ) ( PP ( IN of ) ( NP ( NP ( NNS parts ) ) ( PP ( IN for ) ( NP ( NP ( NNS cars ) ) ( CC and ) ( NP ( NN construction ) ( NNS vehicles ) ) ) ) ) ) ) ( VP ( VBD rose ) ) )

Sales of parts for cars and construction vehicles rose


( S ( S ( NP-SBJ ( NNP Eaton ) ) ( VP ( VBZ does ) ( RB n't ) ( VP ( VB provide ) ( NP ( NP ( NN profit ) ( NNS figures ) ) ) ( ADVP-MNR ( RB separately ) ) ( PP-1 ( IN for ) ( NP ( DT each ) ( NN category ) ) ) ) ) ) ( CC but ) ( S ( NP-SBJ ( NP ( VBG operating ) ( NN profit ) ) ( PP ( IN for ) ( NP ( NP ( NN vehicle ) ( NNS parts ) ) ( PP ( IN as ) ( NP ( DT a ) ( NN group ) ) ) ) ) ) ( VP ( VBD fell ) ( NP-EXT ( CD 26 ) ( NN % ) ) ( PP-DIR ( TO to ) ( NP ( QP ( CD 51 ) ( CD million ) ) ) ) ( PP ( IN on ) ( NP ( NP ( DT an ) ( ADJP ( QP ( IN about ) ( CD 1 ) ) ( NN % ) ) ( NN drop ) ) ( PP ( IN in ) ( NP ( NNS sales ) ) ) ( PP-DIR ( TO to ) ( NP ( QP ( CD 488 ) ( CD million ) ) ) ) ) ) ) ) )

Eaton does n't provide profit figures separately for each category but operating profit for vehicle parts as a group fell 26 % to 51 million on an about 1 % drop in sales to 488 million


( S ( NP-SBJ ( NNP Mr. ) ( NNP Hardis ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ-1 ( JJ truck-fleet ) ( NNS operators ) ) ( VP ( VBP appear ) ( S ( VP ( TO to ) ( VP ( VB be ) ( ADJP-PRD ( JJ cautious ) ( PP ( IN about ) ( S-NOM ( VP ( VBG buying ) ( NP ( JJ new ) ( NNS trucks ) ) ) ) ) ) ( SBAR-TMP ( IN until ) ( S ( NP-SBJ ( PRP they ) ) ( VP ( VBP see ) ( SBAR ( WHADVP-3 ( WRB how ) ) ( S ( NP-SBJ ( DT the ) ( NN economy ) ) ( VP ( VBZ behaves ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Mr. Hardis said truck-fleet operators appear to be cautious about buying new trucks until they see how the economy behaves


( S ( S ( S-TPC-1 ( NP-SBJ ( DT The ) ( NN truck ) ( NNS sales ) ( NN slowdown ) ) ( VP ( VBZ reflects ) ( NP ( NP ( DT the ) ( JJ general ) ( NN slowing ) ) ( PP-LOC ( IN in ) ( NP ( NP ( NNS sales ) ) ( PP ( IN of ) ( NP ( NN consumer ) ( NNS goods ) ) ) ) ) ) ) ) ( NP-SBJ ( PRP he ) ) ( VP ( VBD said ) ) ) ( CC and ) ( S ( NP-SBJ ( DT the ) ( JJS latest ) ( NNS reports ) ) ( VP ( VBP show ) ( NP ( NP ( DT a ) ( JJ slight ) ( NN improvement ) ) ( PP ( RB rather ) ( IN than ) ( NP ( NP ( DT any ) ( NN indication ) ) ( PP ( IN of ) ( NP ( DT a ) ( JJ downward ) ( NN spiral ) ) ) ) ) ) ) ) )

The truck sales slowdown reflects the general slowing in sales of consumer goods he said and the latest reports show a slight improvement rather than any indication of a downward spiral


( S ( NP-SBJ ( NP ( VBG Operating ) ( NN profit ) ) ( PP ( IN from ) ( NP ( NP ( JJ electrical ) ( CC and ) ( NNS electronics ) ( NNS controls ) ) ( NP ( NP ( NNP Eaton ) ( POS 's ) ) ( JJ other ) ( JJ major ) ( NN business ) ( NN group ) ) ) ) ) ( VP ( VBD fell ) ( NP-EXT ( CD 11 ) ( NN % ) ) ( PP-DIR ( TO to ) ( NP ( QP ( CD 32 ) ( CD million ) ) ) ) ( PP ( IN despite ) ( NP ( NP ( DT a ) ( ADJP ( CD 7.7 ) ( NN % ) ) ( NN increase ) ) ( PP ( IN in ) ( NP ( NNS sales ) ) ) ( PP-DIR ( TO to ) ( NP ( QP ( CD 376 ) ( CD million ) ) ) ) ) ) ) )

Operating profit from electrical and electronics controls Eaton 's other major business group fell 11 % to 32 million despite a 7.7 % increase in sales to 376 million


( S ( NP-SBJ ( DT The ) ( NN company ) ) ( VP ( VBD attributed ) ( NP ( DT the ) ( NN decline ) ) ( PP ( TO to ) ( NP ( NP ( NN weakness ) ) ( PP-LOC ( PP ( IN in ) ( NP ( NP ( DT the ) ( JJ commercial-switch ) ( NN market ) ) ( PP-LOC ( IN in ) ( NP ( NNP North ) ( NNP America ) ) ) ) ) ( CC and ) ( PP ( IN in ) ( NP ( DT the ) ( JJ European ) ( NN appliance-controls ) ( NN market ) ) ) ) ) ) ) )

The company attributed the decline to weakness in the commercial-switch market in North America and in the European appliance-controls market


( S ( PP-TMP ( IN For ) ( NP ( DT the ) ( CD nine ) ( NNS months ) ) ) ( NP-SBJ ( NP ( JJ net ) ) ( PP ( VBG including ) ( NP ( NP ( NP ( NN profit ) ) ( PP ( IN from ) ( NP ( VBN discontinued ) ( NNS operations ) ) ) ( NP-TMP ( DT both ) ( NNS years ) ) ) ( CC and ) ( NP ( PP-TMP ( IN in ) ( NP ( CD 1988 ) ) ) ( NP ( DT an ) ( JJ extraordinary ) ( NN charge ) ) ( PP ( IN of ) ( NP ( NP ( QP ( CD 17.7 ) ( CD million ) ) ) ( VP ( VBN related ) ( PP-CLR ( TO to ) ( NP ( NP ( NN settlement ) ) ( PP ( IN of ) ( NP ( DT a ) ( NN lawsuit ) ) ) ) ) ) ) ) ) ) ) ) ( VP ( VBD was ) ( NP-PRD ( NP ( QP ( CD 170.6 ) ( CD million ) ) ) ( CC or ) ( NP ( NP ( CD 4.54 ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ( ADVP ( IN up ) ( NP ( CD 5.8 ) ( NN % ) ) ( PP ( IN from ) ( NP ( NP ( QP ( CD 161.3 ) ( CD million ) ) ) ( CC or ) ( NP ( NP ( CD 4.32 ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ( ADVP-TMP ( NP ( DT a ) ( NN year ) ) ( IN ago ) ) ) ) ) )

For the nine months net including profit from discontinued operations both years and in 1988 an extraordinary charge of 17.7 million related to settlement of a lawsuit was 170.6 million or 4.54 a share up 5.8 % from 161.3 million or 4.32 a share a year ago


( S ( NP-SBJ ( NNP Eaton ) ) ( VP ( VBD earned ) ( PP ( IN from ) ( NP ( VBG continuing ) ( NNS operations ) ) ) ( NP ( NP ( QP ( CD 165.1 ) ( CD million ) ) ) ( CC or ) ( NP ( NP ( CD 4.40 ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ( ADVP ( IN down ) ( NP ( CD 7 ) ( NN % ) ) ( PP ( IN from ) ( NP ( NP ( QP ( CD 177.5 ) ( CD million ) ) ) ( CC or ) ( NP ( NP ( CD 4.76 ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ( ADVP-TMP ( NP ( DT a ) ( NN year ) ) ( RBR earlier ) ) ) ) ) ) )

Eaton earned from continuing operations 165.1 million or 4.40 a share down 7 % from 177.5 million or 4.76 a share a year earlier


( S ( NP-SBJ ( JJ Nine-month ) ( NNS sales ) ) ( VP ( VBD were ) ( NP-PRD ( QP ( CD 2.79 ) ( CD billion ) ) ) ( ADVP ( IN up ) ( NP ( CD 8.2 ) ( NN % ) ) ( PP ( IN from ) ( NP ( NP ( QP ( CD 2.58 ) ( CD billion ) ) ) ) ( ADVP-TMP ( NP ( DT a ) ( NN year ) ) ( RBR earlier ) ) ) ) ) )

Nine-month sales were 2.79 billion up 8.2 % from 2.58 billion a year earlier


( S ( PP-LOC ( IN In ) ( NP ( NNP New ) ( NNP York ) ( NNP Stock ) ( NNP Exchange ) ( JJ composite ) ( NN trading ) ) ) ( NP-SBJ ( NNP Eaton ) ) ( VP ( VBD closed ) ( PP-CLR ( IN at ) ( NP ( NP ( CD 57.50 ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ( ADVP ( IN down ) ( NP ( CD 2.50 ) ) ) ) )

In New York Stock Exchange composite trading Eaton closed at 57.50 a share down 2.50


( S ( NP-SBJ ( NP ( NNP Stock ) ) ( PP ( IN of ) ( NP ( NP ( NNP United ) ( NNPS Airlines ) ( NN parent ) ) ( NP ( NNP UAL ) ( NNP Corp. ) ) ) ) ) ( VP ( VBD gyrated ) ( ADVP-MNR ( RB wildly ) ) ( NP-TMP ( NN yesterday ) ) ( PP-LOC ( IN amid ) ( NP ( NN speculation ) ( SBAR ( IN that ) ( S ( NP-SBJ ( CD one ) ( CC or ) ( JJR more ) ( NNS investors ) ) ( VP ( MD may ) ( VP ( VB challenge ) ( NP ( NP ( DT the ) ( NNP UAL ) ( NN board ) ( POS 's ) ) ( NN decision ) ( S ( VP ( TO to ) ( VP ( VB remain ) ( ADJP-PRD ( JJ independent ) ) ( PP ( RB instead ) ( IN of ) ( S-NOM ( VP ( VBG pursuing ) ( NP ( NP ( DT a ) ( JJ buy-out ) ) ( CC or ) ( NP ( JJ other ) ( NN transaction ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Stock of United Airlines parent UAL Corp. gyrated wildly yesterday amid speculation that one or more investors may challenge the UAL board 's decision to remain independent instead of pursuing a buy-out or other transaction


( S ( NP-SBJ ( NP ( NP ( DT The ) ( NN board ) ( POS 's ) ) ( NN decision ) ) ( VP ( VBN announced ) ( SBAR-TMP ( IN after ) ( S ( NP-SBJ ( DT the ) ( NN market ) ) ( VP ( VBN closed ) ( NP-TMP ( NNP Monday ) ) ) ) ) ) ) ( ADVP-TMP ( RB initially ) ) ( VP ( VBD prompted ) ( NP ( NP ( DT a ) ( JJ severe ) ( NN sell-off ) ) ( PP ( IN in ) ( NP ( NP ( NNP UAL ) ( NNS shares ) ) ( SBAR ( WHNP-1 ( WDT which ) ) ( S ( PP-TMP ( IN at ) ( NP ( NN midday ) ) ) ( VP ( VBD traded ) ( ADVP-CLR ( RB as ) ( JJ low ) ( PP ( IN as ) ( NP ( NP ( CD 145 ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ) ( ADVP-CLR ( RB down ) ( NP ( NP ( CD 33 ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ( PP-LOC ( IN in ) ( NP ( NP ( JJ composite ) ( NN trading ) ) ( PP-LOC ( IN on ) ( NP ( DT the ) ( NNP New ) ( NNP York ) ( NNP Stock ) ( NNP Exchange ) ) ) ) ) ) ) ) ) ) ) ) )

The board 's decision announced after the market closed Monday initially prompted a severe sell-off in UAL shares which at midday traded as low as 145 a share down 33 a share in composite trading on the New York Stock Exchange


( S ( NP-SBJ ( NP ( DT The ) ( VBG deepening ) ( NN bloodbath ) ) ( PP ( IN for ) ( NP ( NP ( JJ takeover-stock ) ( NNS traders ) ) ( SBAR ( WHNP-2 ( WP who ) ) ( S ( ADVP ( IN by ) ( RB then ) ) ( VP ( VBD had ) ( VP ( VBN seen ) ( S ( NP-SBJ ( NNP UAL ) ( NN stock ) ) ( VP ( VB tumble ) ( NP-EXT ( CD 49 ) ( NN % ) ) ( PP-TMP ( IN since ) ( NP ( NNP Oct. ) ( CD 12 ) ) ) ) ) ) ) ) ) ) ) ) ( ADVP ( RB also ) ) ( VP ( VBD triggered ) ( NP ( NP ( DT a ) ( JJ marketwide ) ( NN sell-off ) ) ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( VP ( VBD sent ) ( S ( NP-SBJ ( DT the ) ( NNP Dow ) ( NNP Jones ) ( NNP Industrial ) ( NNP Average ) ) ( ADVP-PRD ( IN down ) ( NP ( QP ( RBR more ) ( IN than ) ( CD 80 ) ) ( NNS points ) ) ) ) ( PP-TMP ( IN at ) ( NP ( CD 10:40 ) ( RB a.m ) ) ) ) ) ) ) ) )

The deepening bloodbath for takeover-stock traders who by then had seen UAL stock tumble 49 % since Oct. 12 also triggered a marketwide sell-off that sent the Dow Jones Industrial Average down more than 80 points at 10:40 a.m


( S ( CC But ) ( ADVP ( RB then ) ) ( NP-SBJ ( NP ( ADJP ( JJ steady ) ( VBN concentrated ) ) ( NN buying ) ) ( PP ( IN by ) ( NP ( NP ( NNP Bear ) ( NNP Stearns ) ( CC & ) ( NNP Co. ) ) ( SBAR ( WHNP-1 ( WDT which ) ) ( S ( ADVP-TMP ( RB frequently ) ) ( VP ( VBZ buys ) ( NP ( NN stock ) ) ( PP-BNF ( IN for ) ( NP ( JJ corporate ) ( NNS raiders ) ) ) ) ) ) ) ) ) ( VP ( VP ( VP ( VBD took ) ( NP ( NN hold ) ) ) ( CC and ) ( VP ( VBD steadied ) ( NP ( NP ( DT the ) ( NN fall ) ) ( PP ( IN in ) ( NP ( NNP UAL ) ) ) ) ) ) ( SBAR ( WHNP-2 ( WDT which ) ) ( S ( ADVP-TMP ( RB eventually ) ) ( VP ( VBD buoyed ) ( NP ( DT the ) ( JJ entire ) ( NN market ) ) ) ) ) ) )

But then steady concentrated buying by Bear Stearns & Co. which frequently buys stock for corporate raiders took hold and steadied the fall in UAL which eventually buoyed the entire market


( S ( NP-SBJ ( DT The ) ( JJ industrial ) ( NN average ) ) ( VP ( VBN closed ) ( ADVP-CLR ( RB down ) ( NP ( QP ( RB only ) ( CD 3.69 ) ) ( NNS points ) ) ) ( PP-CLR ( IN at ) ( NP ( CD 2659.22 ) ) ) ) )

The industrial average closed down only 3.69 points at 2659.22


( S ( ADVP-TMP ( RB Late ) ( PP ( IN in ) ( NP ( DT the ) ( NN afternoon ) ) ) ) ( NP-SBJ ( NP ( JJ several ) ( JJ big ) ( NNS purchases ) ) ( PP ( IN by ) ( NP ( NNP Bear ) ( NNP Stearns ) ) ) ( NP ( NP ( RB particularly ) ( DT a ) ( NN block ) ) ( PP ( IN of ) ( NP ( CD 200,000 ) ( NNS shares ) ) ) ( PP-TMP ( IN at ) ( NP ( CD 2:43 ) ( NN p.m. ) ) ) ( PP-LOC ( IN at ) ( NP ( NP ( CD 150 ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ) ) ( VP ( VBD triggered ) ( NP ( NP ( DT a ) ( VBG buying ) ( NN spree ) ) ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( VP ( VBD took ) ( S ( NP-SBJ ( NNP UAL ) ) ( ADVP-PRD ( IN up ) ( NP ( QP ( RBR more ) ( IN than ) ( CD 18 ) ) ( NNS points ) ) ) ) ( PP-TMP ( IN in ) ( NP ( NP ( DT the ) ( JJ final ) ( NN hour ) ) ( PP ( IN of ) ( NP ( NN trading ) ) ) ) ) ) ) ) ) ) )

Late in the afternoon several big purchases by Bear Stearns particularly a block of 200,000 shares at 2:43 p.m. at 150 a share triggered a buying spree that took UAL up more than 18 points in the final hour of trading


( S ( NP-SBJ ( NNP UAL ) ( NN stock ) ) ( VP ( VBD closed ) ( PP-CLR ( IN at ) ( NP ( NP ( CD 170 ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ( ADVP-CLR ( RB down ) ( NP ( CD 8.375 ) ) ) ) )

UAL stock closed at 170 a share down 8.375


( S ( NP-SBJ ( NN Volume ) ) ( VP ( VBD was ) ( NP-PRD ( NP ( DT a ) ( JJ tumultuous ) ( QP ( CD 4.9 ) ( CD million ) ) ( NNS shares ) ) ( CC or ) ( NP ( NP ( CD 22 ) ( NN % ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( QP ( CD 21.8 ) ( CD million ) ) ( NNP UAL ) ( NNS shares ) ) ( ADJP ( JJ outstanding ) ) ) ) ) ) ) )

Volume was a tumultuous 4.9 million shares or 22 % of the 21.8 million UAL shares outstanding


( S ( NP-SBJ ( NNS Traders ) ) ( VP ( VBD estimated ) ( SBAR ( IN that ) ( S ( NP-SBJ ( NNP Bear ) ( NNP Stearns ) ) ( VP ( VBD bought ) ( NP ( QP ( JJR more ) ( IN than ) ( CD 1 ) ( CD million ) ) ( NNS shares ) ) ) ) ) ) )

Traders estimated that Bear Stearns bought more than 1 million shares


( S ( NP-SBJ ( NP ( DT The ) ( CD two ) ( ADJP ( ADVP ( RBS most ) ( RB frequently ) ) ( VBN rumored ) ) ( NNS buyers ) ) ( SBAR ( WHNP-1 ( CC neither ) ( WHPP ( IN of ) ( WHNP ( WP whom ) ) ) ) ( S ( VP ( MD would ) ( VP ( VB comment ) ) ) ) ) ) ( VP ( VBD were ) ( NP-PRD ( NP ( NP ( NNP Coniston ) ( NNPS Partners ) ) ( SBAR ( WHNP-2 ( WDT which ) ) ( S ( VP ( VBD battled ) ( NP ( DT the ) ( NNP UAL ) ( NN board ) ) ( PP-TMP ( IN in ) ( NP ( CD 1987 ) ) ) ) ) ) ) ( CC and ) ( NP ( NP ( NP ( NNP New ) ( NNP York ) ( JJ real ) ( NN estate ) ( NN developer ) ) ( NP ( NNP Donald ) ( NNP Trump ) ) ) ( SBAR ( WHNP-3 ( WP who ) ) ( S ( ADVP-TMP ( RB recently ) ) ( VP ( VBD made ) ( CC and ) ( VBD withdrew ) ( NP ( NP ( DT an ) ( NN offer ) ) ( PP ( IN for ) ( NP ( NP ( NNP American ) ( NNPS Airlines ) ( NN parent ) ) ( NP ( NNP AMR ) ( NNP Corp ) ) ) ) ) ) ) ) ) ) ) )

The two most frequently rumored buyers neither of whom would comment were Coniston Partners which battled the UAL board in 1987 and New York real estate developer Donald Trump who recently made and withdrew an offer for American Airlines parent AMR Corp


( S ( ADVP ( RB However ) ) ( NP-SBJ ( NP ( CD one ) ( NN person ) ) ( ADJP ( JJ familiar ) ( PP ( IN with ) ( NP ( NNP UAL ) ) ) ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( DT the ) ( NNS signs ) ) ( VP ( VBD pointed ) ( PP-CLR ( TO to ) ( NP ( NNP Coniston ) ) ) ( SBAR-PRP ( IN because ) ( S ( NP-SBJ ( NNP Mr. ) ( NNP Trump ) ) ( VP ( VBZ has ) ( RB n't ) ( VP ( VBD asked ) ( PP-CLR ( IN for ) ( NP ( NN permission ) ( S ( VP ( TO to ) ( VP ( VB buy ) ( NP ( NP ( QP ( JJR more ) ( IN than ) ( CD 15 ) ( CD million ) ) ) ( PP ( IN of ) ( NP ( NN stock ) ) ) ) ) ) ) ) ) ( PP-LOC ( IN under ) ( NP ( JJ federal ) ( JJ antitrust ) ( NNS rules ) ) ) ) ) ) ) ) ) ) ) )

However one person familiar with UAL said the signs pointed to Coniston because Mr. Trump has n't asked for permission to buy more than 15 million of stock under federal antitrust rules


( S ( NP-SBJ ( NP ( JJ Takeover-stock ) ( NNS traders ) ) ( VP ( VBN stung ) ( PP ( IN by ) ( NP-LGS ( NP ( PRP$ their ) ( JJ huge ) ( NNS losses ) ) ( PP-LOC ( IN in ) ( NP ( NNP UAL ) ( NN stock ) ) ) ) ) ) ) ( VP ( VBN remained ) ( ADJP-PRD ( JJ eager ) ( PP ( IN for ) ( NP ( NP ( DT some ) ( NN action ) ) ( PP ( IN by ) ( NP ( DT an ) ( JJ outside ) ( NN catalyst ) ) ) ) ) ) ( PP-TMP ( VBG following ) ( NP ( NP ( DT the ) ( NN collapse ) ) ( NP-TMP ( NNP Oct. ) ( CD 13 ) ) ( PP ( IN of ) ( NP ( DT a ) ( ADJP ( JJ 300-a-share ) ( QP ( CD 6.79 ) ( CD billion ) ) ) ( NN labor-management ) ( NN buy-out ) ) ) ) ) ) )

Takeover-stock traders stung by their huge losses in UAL stock remained eager for some action by an outside catalyst following the collapse Oct. 13 of a 300-a-share 6.79 billion labor-management buy-out


( S ( NP-SBJ ( PRP$ Their ) ( NN hope ) ) ( VP ( VBD was ) ( SBAR-PRD ( IN that ) ( S ( NP-SBJ-1 ( DT the ) ( NN catalyst ) ) ( VP ( MD would ) ( VP ( VB seek ) ( S ( VP ( TO to ) ( VP ( VB oust ) ( NP ( DT the ) ( NN board ) ) ) ) ) ( PP ( IN in ) ( NP ( NP ( DT a ) ( NN solicitation ) ) ( PP ( IN of ) ( NP ( NN shareholder ) ( NNS consents ) ) ) ) ) ) ) ) ) ) )

Their hope was that the catalyst would seek to oust the board in a solicitation of shareholder consents


( S ( NP-SBJ ( NP ( NNP Baker ) ( NNP Nye ) ( NNPS Investments ) ) ( NP ( NP ( DT a ) ( NNP New ) ( NNP York ) ( JJ takeover-stock ) ( NN trader ) ) ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( VP ( VBZ owns ) ( NP ( NNP UAL ) ( NN stock ) ) ) ) ) ) ) ( VP ( MD would ) ( RB n't ) ( VP ( VB comment ) ( PP-CLR ( IN on ) ( NP ( NNS reports ) ( SBAR ( S ( NP-SBJ-2 ( DT the ) ( NN firm ) ) ( VP ( VBZ is ) ( VP ( VBG considering ) ( S ( VP ( VBG seeking ) ( NP ( PDT such ) ( DT a ) ( NN shareholder ) ( NN vote ) ) ) ) ) ) ) ) ) ) ) ) )

Baker Nye Investments a New York takeover-stock trader that owns UAL stock would n't comment on reports the firm is considering seeking such a shareholder vote


( S ( CC But ) ( NP-SBJ ( NN partner ) ( NNP Richard ) ( NNP Nye ) ) ( VP ( VBD said ) ( S ( NP-SBJ ( DT This ) ) ( VP ( VBZ is ) ( NP-PRD ( NP ( DT the ) ( ADJP ( RBS most ) ( JJ extraordinary ) ) ( VBN failed ) ( NN transaction ) ) ( SBAR ( S ( NP-SBJ ( PRP I ) ) ( VP ( VBP 've ) ( VP ( VBN seen ) ( PP-TMP ( IN in ) ( NP ( NP ( CD 25 ) ( NNS years ) ) ( PP-LOC ( IN in ) ( NP ( DT this ) ( NN business ) ) ) ) ) ) ) ) ) ) ) ) ) )

But partner Richard Nye said This is the most extraordinary failed transaction I 've seen in 25 years in this business


( S ( NP-SBJ ( NP ( PRP It ) ) ) ( VP ( MD would ) ( VP ( VB make ) ( NP ( NN sense ) ) ( SBAR-1 ( IN for ) ( S ( NP-SBJ ( NN somebody ) ) ( VP ( TO to ) ( VP ( VB do ) ( NP ( PRP it ) ) ) ) ) ) ) ) )

It would make sense for somebody to do it


( S ( NP-SBJ ( PRP I ) ) ( VP ( VBP have ) ( ADVP-TMP ( RB never ) ) ( VP ( VBN seen ) ( NP ( NP ( DT a ) ( NN case ) ) ( PP ( IN of ) ( NP ( NP ( NN incompetence ) ) ( VP ( VBN shared ) ( PP ( IN by ) ( NP-LGS ( RB so ) ( JJ many ) ( NNS participants ) ) ) ) ) ) ) ) ) )

I have never seen a case of incompetence shared by so many participants


( S ( PP-TMP ( IN In ) ( NP ( CD 1986 ) ) ) ( NP-SBJ ( NNP Baker ) ( NNP Nye ) ) ( VP ( VBD waged ) ( NP ( NP ( DT a ) ( NN proxy ) ( NN fight ) ) ( PP ( IN for ) ( NP ( NP ( NN control ) ) ( PP ( IN of ) ( NP ( NNP Leaseway ) ( NNP Transportation ) ( NNP Inc. ) ) ) ) ) ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( ADVP ( RB ultimately ) ) ( VP ( VBD led ) ( PP-CLR ( TO to ) ( S-NOM ( NP-SBJ-2 ( NP ( NNP Leaseway ) ( POS 's ) ) ) ( VP ( NN being ) ( VP ( VBN sold ) ) ) ) ) ) ) ) ) ) )

In 1986 Baker Nye waged a proxy fight for control of Leaseway Transportation Inc. that ultimately led to Leaseway 's being sold


( S ( NP-SBJ ( DT Some ) ( NNS traders ) ) ( VP ( VBD pointed ) ( ADVP-MNR ( RB hopefully ) ) ( PP-CLR ( TO to ) ( NP ( NP ( JJR earlier ) ( NNS estimates ) ) ( PP ( IN by ) ( NP ( NP ( NP ( NNP UAL ) ( POS 's ) ) ( NN investment ) ( NN adviser ) ) ( NP ( NNP First ) ( NNP Boston ) ( NNP Corp. ) ) ) ) ( SBAR ( IN that ) ( S ( NP-SBJ ( NNS recapitalizations ) ) ( VP ( MD could ) ( VP ( VB yield ) ( NP-EXT ( NP ( QP ( CD 245 ) ( TO to ) ( CD 280 ) ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ) ) ) ) ) ) )

Some traders pointed hopefully to earlier estimates by UAL 's investment adviser First Boston Corp. that recapitalizations could yield 245 to 280 a share


( S ( CC But ) ( NP-SBJ ( DT those ) ) ( VP ( MD would ) ( VP ( VB require ) ( NP ( NP ( NNS pilots ) ( POS ' ) ) ( NN cooperation ) ) ) ) )

But those would require pilots ' cooperation


( S ( NP-SBJ ( NP ( DT Any ) ( NN investor ) ) ( SBAR ( WHNP-1 ( WP who ) ) ( S ( VP ( VBZ acquires ) ( NP ( NNP UAL ) ( NN stock ) ) ( PP-MNR ( IN in ) ( NP ( DT an ) ( NN attempt ) ( S ( VP ( TO to ) ( VP ( VB force ) ( NP ( DT a ) ( NN buy-out ) ( CC or ) ( NN recapitalization ) ) ) ) ) ) ) ) ) ) ) ( VP ( MD must ) ( VP ( VB deal ) ( PP-CLR ( IN with ) ( NP ( NP ( NNP United ) ( POS 's ) ) ( JJ contentious ) ( NNS unions ) ) ) ) ) )

Any investor who acquires UAL stock in an attempt to force a buy-out or recapitalization must deal with United 's contentious unions


( S ( S ( NP-SBJ ( DT The ) ( NNS pilots ) ) ( VP ( VBP are ) ( VP ( VBG working ) ( PP-LOC ( IN under ) ( NP ( DT an ) ( VBN expired ) ( NN contract ) ) ) ) ) ) ( CC and ) ( S ( NP-SBJ ( DT the ) ( NNS machinists ) ( NN contract ) ) ( VP ( VBZ expires ) ( NP-TMP ( JJ next ) ( NN month ) ) ) ) )

The pilots are working under an expired contract and the machinists contract expires next month


( S ( NP-SBJ ( DT That ) ) ( VP ( VBZ gives ) ( NP ( PRP them ) ) ( NP ( NP ( JJ enormous ) ( NN leverage ) ) ( PP ( VBG including ) ( NP ( NP ( DT the ) ( NN threat ) ) ( PP ( IN of ) ( NP ( NP ( DT a ) ( NN strike ) ) ( SBAR ( S ( VP ( TO to ) ( VP ( VB block ) ( NP ( NP ( DT any ) ( NN buy-out ) ( CC or ) ( NN recapitalization ) ( NN attempt ) ) ( SBAR ( S ( NP-SBJ ( PRP they ) ) ( VP ( VBP oppose ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

That gives them enormous leverage including the threat of a strike to block any buy-out or recapitalization attempt they oppose


( S ( ADVP ( RB However ) ) ( NP-SBJ ( NP ( DT a ) ( NN catalyst ) ) ( PP ( IN like ) ( NP ( NNP Coniston ) ) ) ) ( VP ( MD could ) ( VP ( VB seek ) ( NP ( NP ( NN shareholder ) ( NN support ) ) ( PP ( IN for ) ( NP ( NP ( DT a ) ( NN sale ) ) ( PP ( TO to ) ( NP ( DT a ) ( NN labor-management ) ( NN group ) ) ) ( PP-LOC ( IN at ) ( NP ( NP ( DT the ) ( JJ last ) ( NN price ) ) ( VP ( VBN discussed ) ( PP ( IN by ) ( NP-LGS ( DT that ) ( NN group ) ) ) ) ) ) ) ) ) ( PP-TMP ( IN before ) ( NP ( NP ( DT the ) ( NN board ) ( NN meeting ) ) ( NP-TMP ( NNP Monday ) ) ) ) ) ) )

However a catalyst like Coniston could seek shareholder support for a sale to a labor-management group at the last price discussed by that group before the board meeting Monday


( S ( NP-SBJ ( DT The ) ( NNS pilots ) ) ( VP ( VBD had ) ( VP ( VBN been ) ( VP ( VBG working ) ( PP-CLR ( IN on ) ( NP ( NP ( DT a ) ( NN buy-out ) ( NN bid ) ) ( PP ( IN between ) ( NP ( NP ( NP ( QP ( CD 225 ) ( CC and ) ( CD 240 ) ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ( CC or ) ( NP ( QP ( CD 5.09 ) ( CD billion ) ( TO to ) ( CD 5.42 ) ( CD billion ) ) ) ) ) ) ) ) ) ) )

The pilots had been working on a buy-out bid between 225 and 240 a share or 5.09 billion to 5.42 billion


( S ( NP-SBJ ( NP ( CD One ) ( NN person ) ) ( ADJP ( JJ familiar ) ( PP ( IN with ) ( NP ( NNP UAL ) ) ) ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( NP ( DT the ) ( VBN unsettled ) ( NN labor ) ( NN situation ) ) ( CC and ) ( NP ( DT the ) ( JJ uncertain ) ( JJ world-wide ) ( JJ financial ) ( NNS markets ) ) ) ( VP ( VBN contributed ) ( PP-CLR ( TO to ) ( NP ( NP ( DT the ) ( NN board ) ( POS 's ) ) ( NN decision ) ( S ( VP ( TO to ) ( VP ( VB avoid ) ( S ( VP ( VP ( VBG rushing ) ( ADVP ( IN around ) ) ) ( VP ( VBG selling ) ( NP ( DT the ) ( NN company ) ) ( PP-CLR ( IN at ) ( NP ( DT a ) ( NN bargain ) ( NN price ) ) ) ) ) ) ) ) ) ) ) ( SBAR-PRP ( ADVP ( RB particularly ) ) ( IN since ) ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBD accepted ) ( NP ( DT a ) ( ADJP ( JJ 300-a-share ) ) ( NN offer ) ) ( NP-TMP ( RB just ) ( JJ last ) ( NN month ) ) ) ) ) ) ) ) ) )

One person familiar with UAL said the unsettled labor situation and the uncertain world-wide financial markets contributed to the board 's decision to avoid rushing around selling the company at a bargain price particularly since it accepted a 300-a-share offer just last month


( S ( NP-SBJ ( RB Even ) ( DT some ) ( JJ takeover-stock ) ( NNS traders ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( PRP they ) ) ( VP ( MD could ) ( RB n't ) ( VP ( VB quarrel ) ( PP-CLR ( IN with ) ( NP ( NP ( DT the ) ( NN board ) ( POS 's ) ) ( NN logic ) ) ) ) ) ) ) ) )

Even some takeover-stock traders said they could n't quarrel with the board 's logic


( S ( CC But ) ( NP-SBJ ( NP ( DT the ) ( NN board ) ( POS 's ) ) ( NN decision ) ) ( VP ( VBD prompted ) ( S ( NP-SBJ ( JJ many ) ) ( VP ( TO to ) ( VP ( VB bail ) ( PP-CLR ( IN out ) ( PP ( IN of ) ( NP ( DT the ) ( NN stock ) ) ) ) ( NP-TMP ( NN yesterday ) ) ) ) ) ) )

But the board 's decision prompted many to bail out of the stock yesterday


( SINV ( S-TPC-2 ( NP-SBJ ( PRP We ) ) ( VP ( VBD had ) ( NP ( NP ( NP ( DT a ) ( NN lot ) ) ( PP ( IN of ) ( NP ( NNS people ) ) ) ) ( SBAR ( WHNP-1 ( WP who ) ) ( S ( VP ( VBD threw ) ( PRT ( RP in ) ) ( NP ( DT the ) ( NN towel ) ) ( NP-TMP ( NN today ) ) ) ) ) ) ) ) ( VP ( VBD said ) ) ( NP-SBJ ( NP ( NNP Earl ) ( NNP Ellis ) ) ( NP ( NP ( DT a ) ( NN partner ) ) ( PP-LOC ( IN in ) ( NP ( NP ( NNP Benjamin ) ( NNP Jacobson ) ( CC & ) ( NNPS Sons ) ) ( NP ( NP ( DT a ) ( NN specialist ) ) ( PP ( IN in ) ( S-NOM ( VP ( NN trading ) ( NP ( NNP UAL ) ( NN stock ) ) ( PP-LOC ( IN on ) ( NP ( DT the ) ( NNP Big ) ( NNP Board ) ) ) ) ) ) ) ) ) ) ) )

We had a lot of people who threw in the towel today said Earl Ellis a partner in Benjamin Jacobson & Sons a specialist in trading UAL stock on the Big Board


( S ( NP-SBJ ( DT Another ) ( NN trader ) ) ( VP ( VBD noted ) ( SBAR ( DT that ) ( S ( NP-SBJ-1 ( JJ many ) ( NN arbitrage ) ( NNS firms ) ) ( VP ( VP ( VBP are ) ( ADJP-PRD ( JJ afraid ) ( S ( VP ( TO to ) ( VP ( VB sell ) ( NP ( PRP$ their ) ( NNP UAL ) ( NN stock ) ) ( PP-CLR ( IN at ) ( NP ( DT the ) ( NN bottom ) ) ) ) ) ) ) ) ( CC but ) ( VP ( ADVP ( RB already ) ) ( JJ own ) ( NP ( NP ( RB so ) ( RB much ) ) ( SBAR ( S ( NP-SBJ ( PRP they ) ) ( VP ( MD ca ) ( RB n't ) ( VP ( VB buy ) ( NP ( DT any ) ( JJR more ) ) ) ) ) ) ) ) ) ) ) ) )

Another trader noted that many arbitrage firms are afraid to sell their UAL stock at the bottom but already own so much they ca n't buy any more


( S ( S-TPC-1 ( NP-SBJ ( DT This ) ( NN deal ) ) ( VP ( VBZ is ) ( PP-PRD ( IN like ) ( NP ( DT a ) ( NNP Roach ) ( NNP Motel ) ) ) ) ) ( NP-SBJ ( PRP he ) ) ( VP ( VBD said ) ) )

This deal is like a Roach Motel he said


( S ( S ( NP-SBJ ( PRP They ) ) ( VP ( VBP check ) ( PRT ( IN in ) ) ) ) ( CC but ) ( S ( NP-SBJ ( PRP they ) ) ( VP ( MD ca ) ( RB n't ) ( VP ( VB check ) ( PRT ( IN out ) ) ) ) ) )

They check in but they ca n't check out


( S ( CC But ) ( NP-SBJ ( PDT both ) ( NP ( DT the ) ( NNS traders ) ) ( CC and ) ( NP ( DT the ) ( NNS pilots ) ) ) ( VP ( VBP remain ) ( ADJP-PRD ( JJ interested ) ( PP ( IN in ) ( NP ( DT some ) ( NN transaction ) ) ) ) ) )

But both the traders and the pilots remain interested in some transaction


( SINV ( ADJP-PRD-TPC-1 ( IN So ) ( ADVP ( RB too ) ) ) ( PP ( VBG according ) ( PP ( TO to ) ( NP ( JJ many ) ( NNS reports ) ) ) ) ( VP ( VBZ is ) ) ( NP-SBJ ( NNP British ) ( NNPS Airways ) ( NNP PLC ) ) ( PP ( IN despite ) ( NP ( NP ( PRP$ its ) ( JJ public ) ( NN withdrawal ) ) ( PP ( IN from ) ( NP ( DT the ) ( NN buy-out ) ) ) ) ) )

So too according to many reports is British Airways PLC despite its public withdrawal from the buy-out


( S ( NP-SBJ-1 ( DT The ) ( NNS pilots ) ) ( VP ( MD might ) ( VP ( VB end ) ( PRT ( RP up ) ) ( S ( VP ( VBG teaming ) ( PRT ( RP up ) ) ( PP-CLR ( IN with ) ( NP ( NP ( PRP$ their ) ( NN longtime ) ( NNS adversaries ) ) ( NP ( DT the ) ( NNS machinists ) ( NN union ) ) ) ) ( PP-LOC ( IN in ) ( NP ( DT a ) ( NN recapitalization ) ) ) ) ) ) ) )

The pilots might end up teaming up with their longtime adversaries the machinists union in a recapitalization


( S ( NP-SBJ ( DT The ) ( NNS machinists ) ) ( VP ( VBP are ) ( VP ( VBG reviewing ) ( NP ( NP ( NNS proposals ) ) ( SBAR ( S ( NP-SBJ ( PRP they ) ) ( VP ( VBD made ) ( PP-TMP ( IN in ) ( NP ( DT the ) ( NN past ) ) ) ) ) ) ( PP ( IN for ) ( NP ( NNS recapitalizations ) ) ) ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( VP ( MD would ) ( VP ( VP ( VB pay ) ( NP ( DT a ) ( JJ special ) ( NN shareholder ) ( NN dividend ) ) ) ( CC and ) ( VP ( VB give ) ( NP ( NNS employees ) ) ( NP ( DT a ) ( NN minority ) ( NN stake ) ) ) ) ) ) ) ) ) ) )

The machinists are reviewing proposals they made in the past for recapitalizations that would pay a special shareholder dividend and give employees a minority stake


( S ( NP-SBJ ( DT The ) ( NN company ) ) ( VP ( VBD rejected ) ( NP ( DT those ) ( JJ past ) ( NNS proposals ) ) ) )

The company rejected those past proposals


( S ( NP-SBJ ( NP ( PRP It ) ) ) ( VP ( VBZ is ) ( ADJP-PRD ( JJ unclear ) ) ( ADVP ( RB however ) ) ( SBAR-1 ( IN if ) ( S ( NP-SBJ ( DT the ) ( NNS machinists ) ) ( VP ( MD would ) ( VP ( VB support ) ( NP ( DT a ) ( NN majority ) ( NN stake ) ) ( SBAR-ADV ( IN as ) ( S ( NP-SBJ ( DT the ) ( NNS pilots ) ) ( VP ( VBP want ) ) ) ) ) ) ) ) ) )

It is unclear however if the machinists would support a majority stake as the pilots want


( S ( NP-SBJ ( DT A ) ( NN machinist ) ( NN official ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( DT that ) ) ( VP ( MD would ) ( VP ( VB depend ) ( PP-CLR ( IN on ) ( SBAR-NOM ( WHNP-2 ( WHNP ( WRB how ) ( RB much ) ) ( PP ( IN in ) ( NP ( NNS concessions ) ) ) ) ( S ( NP-SBJ-1 ( NNS machinists ) ) ( VP ( MD would ) ( VP ( VB have ) ( S ( VP ( TO to ) ( VP ( VB give ) ( PP ( IN in ) ( NP ( NP ( NN return ) ) ( PP ( IN for ) ( NP ( DT the ) ( NN majority ) ( NN stake ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

A machinist official said that would depend on how much in concessions machinists would have to give in return for the majority stake


( S ( NP-SBJ ( NP ( DT Some ) ( NNS investors ) ) ( SBAR ( WHNP-2 ( WP$ whose ) ( NNS names ) ) ( S ( VP ( VBD were ) ( VP ( VBN bandied ) ( ADVP ( IN about ) ) ( PP ( IN by ) ( NP-LGS ( NNS traders ) ) ) ( PP-CLR ( IN as ) ( NP ( JJ potential ) ( NNP UAL ) ( NN stock ) ( NNS buyers ) ) ) ) ) ) ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( PRP they ) ) ( VP ( VBD were ) ( RB n't ) ( VP ( VBG buying ) ) ) ) ) ) )

Some investors whose names were bandied about by traders as potential UAL stock buyers said they were n't buying


( SINV ( S-TPC-1 ( NP-SBJ ( PRP I ) ) ( VP ( VBP 'm ) ( RB not ) ( VP ( VBN interested ) ) ) ) ( VP ( VBD said ) ) ( NP-SBJ ( NNP Dallas ) ( NN investor ) ( NNP Harold ) ( NNP Simmons ) ) )

I 'm not interested said Dallas investor Harold Simmons


( S ( NP-SBJ ( NP ( DT A ) ( NN source ) ) ( ADJP ( RB close ) ( PP ( TO to ) ( NP ( NP ( NNP Carl ) ( NNP Icahn ) ) ( NP ( NP ( DT a ) ( JJ corporate ) ( NN raider ) ) ( SBAR ( WHNP-1 ( WP who ) ) ( S ( VP ( VBZ owns ) ( NP ( NNP Trans ) ( NNP World ) ( NNPS Airlines ) ( NNP Inc. ) ) ) ) ) ) ) ) ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( PRP he ) ) ( VP ( VP ( VBZ has ) ( RB n't ) ( VP ( VBN owned ) ( NP ( DT any ) ( NNP UAL ) ( NN stock ) ) ) ) ( CC and ) ( VP ( VBZ is ) ( RB n't ) ( VP ( VBG buying ) ) ) ) ) ) ) )

A source close to Carl Icahn a corporate raider who owns Trans World Airlines Inc. said he has n't owned any UAL stock and is n't buying


( S ( NP-SBJ ( NP ( CD One ) ( NN person ) ) ( ADJP ( JJ familiar ) ( PP ( IN with ) ( NP ( NNP Texas ) ( NN billionaire ) ( NNP Robert ) ( NNP Bass ) ) ) ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ-1 ( PRP he ) ) ( VP ( VBZ is ) ( RB n't ) ( ADJP-PRD ( JJ likely ) ( S ( VP ( TO to ) ( VP ( VB make ) ( NP ( DT any ) ( JJ hostile ) ( NNS moves ) ) ) ) ) ) ) ) ) ) )

One person familiar with Texas billionaire Robert Bass said he is n't likely to make any hostile moves


( S ( CC And ) ( NP-SBJ ( NP ( DT a ) ( NN spokesman ) ) ( PP ( IN for ) ( NP ( NP ( NNP Reliance ) ( NNP Group ) ( NNPS Holdings ) ( NNP Inc. ) ) ( SBAR ( WHNP-1 ( WDT which ) ) ( S ( VP ( VP ( VBD had ) ( VP ( VBN held ) ( NP ( NP ( CD 7 ) ( NN % ) ) ( PP ( IN of ) ( NP ( NNP UAL ) ) ) ) ( PP-TMP ( IN before ) ( NP ( DT the ) ( JJ first ) ( JJ buy-out ) ( NN bid ) ) ) ) ) ( CC but ) ( VP ( ADVP-TMP ( RB later ) ) ( VBD reduced ) ( NP ( PRP$ its ) ( NNS holdings ) ) ( PP-DIR ( IN below ) ( NP ( CD 5 ) ( NN % ) ) ) ) ) ) ) ) ) ) ( VP ( MD would ) ( RB n't ) ( VP ( VB comment ) ) ) )

And a spokesman for Reliance Group Holdings Inc. which had held 7 % of UAL before the first buy-out bid but later reduced its holdings below 5 % would n't comment


( S ( NP-SBJ-1 ( NP ( NNP Marvin ) ( NNP Davis ) ) ( SBAR ( WHNP-2 ( WP$ whose ) ( NP ( ADJP ( QP ( CD 5.4 ) ( CD billion ) ) ) ( NN takeover ) ( NN bid ) ) ) ( S ( ADVP ( RB originally ) ) ( VP ( VBD put ) ( NP ( NP ( DT the ) ( NN nation ) ( POS 's ) ) ( JJ second-largest ) ( NN airline ) ) ( PP-PUT ( IN in ) ( NP ( NN play ) ) ) ) ) ) ) ( VP ( VBZ is ) ( VP ( VBN limited ) ( PP ( IN by ) ( NP-LGS ( NP ( DT a ) ( JJ standstill ) ( NN agreement ) ) ( PP ( IN with ) ( NP ( NNP UAL ) ) ) ( SBAR ( S ( NP-SBJ ( PRP he ) ) ( VP ( VBD signed ) ( PP-TMP ( IN in ) ( NP ( NNP September ) ) ) ) ) ) ) ) ) ) )

Marvin Davis whose 5.4 billion takeover bid originally put the nation 's second-largest airline in play is limited by a standstill agreement with UAL he signed in September


( S ( NP-SBJ ( DT The ) ( NNP Los ) ( NNP Angeles ) ( NN investor ) ) ( VP ( MD ca ) ( RB n't ) ( VP ( VP ( VB buy ) ( NP ( NNP UAL ) ( NN stock ) ) ) ( VP ( VB solicit ) ( NP ( NN shareholder ) ( NNS consents ) ) ) ( CC or ) ( VP ( VB make ) ( NP ( DT a ) ( JJ new ) ( NN offer ) ) ) ( SBAR-ADV ( IN unless ) ( S ( S ( NP-SBJ ( PRP he ) ) ( VP ( VBZ makes ) ( NP ( NP ( DT a ) ( JJ formal ) ( NN offer ) ) ( PP ( IN of ) ( NP ( NP ( CD 300 ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ) ) ) ( CC or ) ( S ( NP-SBJ ( NNP UAL ) ) ( VP ( VBZ accepts ) ( NP ( NP ( DT an ) ( NN offer ) ) ( PP-LOC ( IN below ) ( NP ( CD 300 ) ) ) ) ) ) ) ) ) ) )

The Los Angeles investor ca n't buy UAL stock solicit shareholder consents or make a new offer unless he makes a formal offer of 300 a share or UAL accepts an offer below 300


( S ( ADVP ( RB However ) ) ( NP-SBJ-1 ( NNP Mr. ) ( NNP Davis ) ) ( VP ( MD could ) ( VP ( VB pressure ) ( NP ( DT the ) ( NN board ) ) ( PP-MNR ( IN by ) ( S-NOM ( VP ( VP ( VBG asking ) ( SBAR ( IN that ) ( S ( NP-SBJ-3 ( DT the ) ( NN agreement ) ) ( VP ( VB be ) ( VP ( VBN waived ) ) ) ) ) ) ( CC or ) ( VP ( VBG letting ) ( S ( NP-SBJ-4 ( NP ( PRP it ) ) ) ( VP ( VB be ) ( VP ( VBN known ) ( SBAR-2 ( IN that ) ( S ( NP-SBJ ( PRP he ) ) ( VP ( VBZ has ) ( NP ( NP ( NN financing ) ) ( PP ( IN for ) ( NP ( NP ( DT an ) ( NN offer ) ) ( PP-LOC ( IN at ) ( NP ( DT a ) ( JJR lower ) ( NN price ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

However Mr. Davis could pressure the board by asking that the agreement be waived or letting it be known that he has financing for an offer at a lower price


( SBARQ ( WHADVP ( WRB Why ) ) ( SQ ( MD ca ) ( RB n't ) ( NP-SBJ ( PRP we ) ) ( VP ( VB teach ) ( NP-1 ( PRP$ our ) ( NNS children ) ) ( S ( VP ( TO to ) ( VP ( VB read ) ( VB write ) ( CC and ) ( VB reckon ) ) ) ) ) ) )

Why ca n't we teach our children to read write and reckon


( S ( NP-SBJ ( PRP It ) ) ( VP ( VBZ 's ) ( RB not ) ( SBAR-PRD ( IN that ) ( S ( NP-SBJ ( PRP we ) ) ( VP ( VBP do ) ( RB n't ) ( VP ( VB know ) ( SBAR ( WHADVP-1 ( WRB how ) ) ( S ( VP ( TO to ) ) ) ) ) ) ) ) ( SBAR-PRP ( IN because ) ( S ( NP-SBJ ( PRP we ) ) ( VP ( VBP do ) ) ) ) ) )

It 's not that we do n't know how to because we do


( S ( NP-SBJ ( PRP It ) ) ( VP ( VBZ 's ) ( SBAR-PRD ( IN that ) ( S ( NP-SBJ-1 ( PRP we ) ) ( VP ( VBP do ) ( RB n't ) ( VP ( VB want ) ( S ( VP ( TO to ) ) ) ) ) ) ) ) )

It 's that we do n't want to


( S ( CC And ) ( NP-SBJ ( NP ( DT the ) ( NN reason ) ) ( SBAR ( S ( NP-SBJ-1 ( PRP we ) ) ( VP ( VBP do ) ( RB n't ) ( VP ( VB want ) ( S ( VP ( TO to ) ) ) ) ) ) ) ) ( VP ( VBZ is ) ( SBAR-PRD ( IN that ) ( S ( NP-SBJ ( JJ effective ) ( NN education ) ) ( VP ( MD would ) ( VP ( VB require ) ( S ( NP-SBJ ( PRP us ) ) ( VP ( VP ( TO to ) ( VP ( VB relinquish ) ( NP ( NP ( DT some ) ( VBN cherished ) ( JJ metaphysical ) ( NNS beliefs ) ) ( PP ( IN about ) ( NP ( NP ( NP ( JJ human ) ( NN nature ) ) ( PP ( IN in ) ( ADJP ( JJ general ) ) ) ) ( CC and ) ( NP ( NP ( NP ( DT the ) ( JJ human ) ( NN nature ) ) ( PP ( IN of ) ( NP ( JJ young ) ( NNS people ) ) ) ) ( PP ( IN in ) ( ADJP ( JJ particular ) ) ) ) ) ) ) ) ) ( CONJP ( RB as ) ( RB well ) ( IN as ) ) ( VP ( TO to ) ( VP ( VB violate ) ( NP ( DT some ) ( VBN cherished ) ( VBN vested ) ( NNS interests ) ) ) ) ) ) ) ) ) ) ) )

And the reason we do n't want to is that effective education would require us to relinquish some cherished metaphysical beliefs about human nature in general and the human nature of young people in particular as well as to violate some cherished vested interests


( S ( NP-SBJ ( DT These ) ( NNS beliefs ) ) ( VP ( ADVP-MNR ( RB so ) ) ( VB dominate ) ( NP ( NP ( PRP$ our ) ( JJ educational ) ( NN establishment ) ) ( NP ( PRP$ our ) ( NNS media ) ) ( NP ( PRP$ our ) ( NNS politicians ) ) ( CC and ) ( NP ( RB even ) ( PRP$ our ) ( NNS parents ) ) ) ( SBAR-CLR ( IN that ) ( S ( NP-SBJ ( NP ( PRP it ) ) ) ( VP ( VBZ seems ) ( ADJP-PRD ( RB almost ) ( JJ blasphemous ) ) ( S-1 ( VP ( TO to ) ( VP ( VB challenge ) ( NP ( PRP them ) ) ) ) ) ) ) ) ) )

These beliefs so dominate our educational establishment our media our politicians and even our parents that it seems almost blasphemous to challenge them


( SINV ( ADVP-LOC-TPC-PRD-1 ( RB Here ) ) ( VP ( VBZ is ) ) ( NP-SBJ ( DT an ) ( NN example ) ) )

Here is an example


( S ( SBAR-ADV ( IN If ) ( S ( NP-SBJ-1 ( PRP I ) ) ( VP ( VBD were ) ( S ( VP ( TO to ) ( VP ( VB ask ) ( NP ( NP ( DT a ) ( NN sample ) ) ( PP ( IN of ) ( NP ( JJ American ) ( NNS parents ) ) ) ) ( SQ ( VBP Do ) ( NP-SBJ ( PRP you ) ) ( VP ( VB wish ) ( S ( NP-SBJ ( DT the ) ( JJ elementary ) ( NNS schools ) ) ( VP ( TO to ) ( VP ( VB encourage ) ( NP ( NP ( NN creativity ) ) ( PP ( IN in ) ( NP ( PRP$ your ) ( NNS children ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ( NP-SBJ ( DT the ) ( JJ near-unanimous ) ( NN answer ) ) ( VP ( MD would ) ( VP ( VB be ) ( FRAG-PRD ( INTJ ( UH Yes ) ) ( PP ( IN of ) ( NP ( NN course ) ) ) ) ) ) )

If I were to ask a sample of American parents Do you wish the elementary schools to encourage creativity in your children the near-unanimous answer would be Yes of course


( SBARQ ( CC But ) ( WHNP-1 ( WP what ) ) ( SQ ( VBP do ) ( NP-SBJ ( PRP we ) ) ( VP ( VB mean ) ( ADVP ( RB specifically ) ) ( PP-CLR ( IN by ) ( NP ( NN creativity ) ) ) ) ) )

But what do we mean specifically by creativity


( S ( NP-SBJ ( DT No ) ( NN one ) ) ( VP ( MD can ) ( VP ( VB say ) ) ) )

No one can say


( S ( PP ( IN In ) ( NP ( NN practice ) ) ) ( NP-SBJ-3 ( PRP it ) ) ( VP ( VBZ ends ) ( PRT ( RP up ) ) ( S-PRD ( VP ( VBG being ) ( VP ( VBN equated ) ( PP-CLR ( IN with ) ( NP ( NP ( DT a ) ( NN self-expression ) ) ( SBAR ( WHNP-2 ( WDT that ) ) ( S ( VP ( VBZ encourages ) ( NP ( NP ( DT the ) ( NNS youngsters ) ( POS ' ) ) ( NN self-esteem ) ) ) ) ) ) ) ) ) ) ) )

In practice it ends up being equated with a self-expression that encourages the youngsters ' self-esteem


( S ( NP-SBJ ( DT The ) ( NN result ) ) ( VP ( VBZ is ) ( NP-PRD ( NP ( DT a ) ( NN generation ) ) ( PP ( IN of ) ( NP ( NP ( JJ young ) ( NNS people ) ) ( SBAR ( WHNP-2 ( WP$ whose ) ( NX ( NX ( NN ignorance ) ) ( CC and ) ( NX ( JJ intellectual ) ( NN incompetence ) ) ) ) ( S ( VP ( VBZ is ) ( VP ( VBN matched ) ( ADVP ( RB only ) ) ( PP-CLR ( IN by ) ( NP ( NP ( PRP$ their ) ( JJ good ) ( NN opinion ) ) ( PP ( IN of ) ( NP ( PRP themselves ) ) ) ) ) ) ) ) ) ) ) ) ) )

The result is a generation of young people whose ignorance and intellectual incompetence is matched only by their good opinion of themselves


( S ( NP-SBJ ( NP ( DT The ) ( JJ whole ) ( NN notion ) ) ( PP ( IN of ) ( NP ( NP ( NN creativity ) ) ( PP-LOC ( IN in ) ( NP ( NN education ) ) ) ) ) ) ( VP ( VBD was ) ( PRN ( CC and ) ( VBZ is ) ) ( NP-PRD ( NP ( NP ( NN part ) ( CC and ) ( NN parcel ) ) ( PP ( IN of ) ( NP ( NP ( DT a ) ( JJ romantic ) ( NN rebellion ) ) ( PP ( IN against ) ( NP ( NP ( VBN disciplined ) ( NN instruction ) ) ( SBAR ( WHNP-1 ( WDT which ) ) ( S ( VP ( VBD was ) ( PRN ( CC and ) ( VBZ is ) ) ( VP ( VBN regarded ) ( PP-CLR ( IN as ) ( UCP ( ADJP ( JJ authoritarian ) ) ( NP ( NP ( DT a ) ( NN repression ) ( CC and ) ( NN frustration ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( NN latent ) ( NNS talents ) ) ( CC and ) ( NP ( NP ( DT the ) ( ADJP ( JJ wonderful ) ( IN if ) ( RB as ) ( RB yet ) ( JJ undefined ) ) ( NNS potentialities ) ) ( ADJP ( JJ inherent ) ( PP-LOC ( IN in ) ( NP ( NP ( DT the ) ( NNS souls ) ) ( PP ( IN of ) ( NP ( PDT all ) ( PRP$ our ) ( NNS children ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

The whole notion of creativity in education was and is part and parcel of a romantic rebellion against disciplined instruction which was and is regarded as authoritarian a repression and frustration of the latent talents and the wonderful if as yet undefined potentialities inherent in the souls of all our children


( S ( NP-SBJ ( NP ( PRP It ) ) ) ( VP ( VBZ is ) ( ADJP-PRD ( RB not ) ( JJ surprising ) ) ( SBAR-2 ( IN that ) ( S ( NP-SBJ ( NNS parents ) ) ( VP ( VB find ) ( S ( NP-SBJ ( DT this ) ( JJ romantic ) ( NN extravagance ) ) ( ADJP-PRD ( RB so ) ( JJ attractive ) ) ) ) ) ) ) )

It is not surprising that parents find this romantic extravagance so attractive


( S ( ADVP ( RB Fortunately ) ) ( S ( NP-SBJ ( DT these ) ( JJ same ) ( NNS parents ) ) ( VP ( VBP do ) ( VP ( VB want ) ( S ( NP-SBJ ( PRP$ their ) ( NNS children ) ) ( VP ( TO to ) ( VP ( VB get ) ( NP ( NP ( DT a ) ( JJ decent ) ( NN education ) ) ( SBAR ( RB as ) ( S ( VP ( ADVP-MNR ( RB traditionally ) ) ( VBN understood ) ) ) ) ) ) ) ) ) ) ) ( CC and ) ( S ( NP-SBJ-3 ( PRP they ) ) ( VP ( VBP have ) ( NP ( NP ( RB enough ) ( JJ common ) ( NN sense ) ) ( S ( VP ( TO to ) ( VP ( VB know ) ( SBAR ( WHNP-1 ( WP what ) ) ( S ( NP-SBJ ( IN that ) ) ( VP ( VBZ demands ) ) ) ) ) ) ) ) ) ) )

Fortunately these same parents do want their children to get a decent education as traditionally understood and they have enough common sense to know what that demands


( S ( NP-SBJ ( NP ( PRP$ Their ) ) ( NN commitment ) ( PP ( TO to ) ( NP ( NN creativity ) ) ) ) ( VP ( MD can ) ( RB not ) ( VP ( VB survive ) ( NP ( JJ adolescent ) ( NN illiteracy ) ) ) ) )

Their commitment to creativity can not survive adolescent illiteracy


( S ( NP-SBJ-1 ( NP ( JJ American ) ( NN education ) ( POS 's ) ) ( NN future ) ) ( VP ( MD will ) ( VP ( VB be ) ( VP ( VBN determined ) ( PP ( IN by ) ( NP-LGS ( NP ( DT the ) ( NN degree ) ) ( SBAR ( WHPP-3 ( TO to ) ( WHNP ( WDT which ) ) ) ( S ( NP-SBJ ( NP ( PRP we ) ) ( PRN ( NP ( NP ( DT all ) ) ( PP ( IN of ) ( NP ( PRP us ) ) ) ) ) ) ( VP ( VBP allow ) ( S ( NP-SBJ ( DT this ) ( JJ common ) ( NN sense ) ) ( VP ( TO to ) ( VP ( VB prevail ) ( PP-CLR ( IN over ) ( NP ( NP ( DT the ) ( NNS illusions ) ) ( SBAR ( WHNP-2 ( IN that ) ) ( S ( NP-SBJ ( PRP we ) ) ( ADVP ( RB also ) ) ( VP ( VBP share ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

American education 's future will be determined by the degree to which we all of us allow this common sense to prevail over the illusions that we also share


( S ( NP-SBJ ( DT The ) ( NN education ) ( NN establishment ) ) ( VP ( MD will ) ( VP ( VB fight ) ( PP-CLR ( IN against ) ( NP ( JJ common ) ( NN sense ) ) ) ( NP-LOC ( NP ( DT every ) ( NN inch ) ) ( PP ( IN of ) ( NP ( DT the ) ( NN way ) ) ) ) ) ) )

The education establishment will fight against common sense every inch of the way


( S ( S ( NP-SBJ ( DT The ) ( NNS reasons ) ) ( VP ( VBP are ) ( ADJP-PRD ( JJ complex ) ) ) ) ( CC but ) ( S ( NP-SBJ-1 ( CD one ) ( JJ simple ) ( NN reason ) ) ( VP ( MD ought ) ( RB not ) ( S ( VP ( TO to ) ( VP ( VB be ) ( VP ( VBN underestimated ) ) ) ) ) ) ) )

The reasons are complex but one simple reason ought not to be underestimated


( S ( NP-SBJ ( NP ( JJ Progressive ) ( NN education ) ) ( PRN ( SBAR ( IN as ) ( S ( NP-SBJ-1 ( PRP it ) ) ( VP ( VBD was ) ( ADVP-TMP ( RB once ) ) ( VP ( VBN called ) ) ) ) ) ) ) ( VP ( VBZ is ) ( ADJP-PRD ( ADJP ( ADVP ( RB far ) ( RBR more ) ) ( JJ interesting ) ( CC and ) ( JJ agreeable ) ( PP ( TO to ) ( NP ( NNS teachers ) ) ) ) ( SBAR ( IN than ) ( SINV ( VP ( VBZ is ) ) ( NP-SBJ ( VBN disciplined ) ( NN instruction ) ) ) ) ) ) )

Progressive education as it was once called is far more interesting and agreeable to teachers than is disciplined instruction


( S ( NP-SBJ ( PRP It ) ) ( VP ( VBZ is ) ( ADJP-PRD ( ADJP ( JJ nice ) ( SBAR ( IN for ) ( S ( NP-SBJ ( NNS teachers ) ) ( VP ( TO to ) ( VP ( VB think ) ( SBAR ( S ( NP-SBJ-1 ( PRP they ) ) ( VP ( VBP are ) ( VP ( VBN engaged ) ( PP-CLR ( IN in ) ( NP ( NN personality ) ( NN development ) ) ) ) ) ) ) ) ) ) ) ) ( CC and ) ( ADJP ( RB even ) ( JJR nicer ) ( S ( VP ( TO to ) ( VP ( VB minimize ) ( NP ( NP ( DT those ) ( JJ irksome ) ( NNS tests ) ) ( PP ( IN with ) ( NP ( ADJP ( RB often ) ( JJ disappointing ) ) ( NNS results ) ) ) ) ) ) ) ) ) ) )

It is nice for teachers to think they are engaged in personality development and even nicer to minimize those irksome tests with often disappointing results


( S ( NP-SBJ ( PRP It ) ) ( ADVP ( RB also ) ) ( VP ( VBZ provides ) ( NP ( NNS teachers ) ) ( PP-CLR ( IN with ) ( NP ( NP ( DT a ) ( JJ superior ) ( NN self-definition ) ) ( PP ( IN as ) ( NP ( DT a ) ( NN profession ) ) ) ) ) ( SBAR-PRP ( IN since ) ( S ( NP-SBJ ( PRP they ) ) ( VP ( MD will ) ( VP ( VB have ) ( VP ( VBN passed ) ( NP ( NP ( NNS courses ) ) ( PP ( IN in ) ( NP ( NP ( JJ educational ) ( NN psychology ) ) ( CC and ) ( NP ( JJ educational ) ( NN philosophy ) ) ) ) ) ) ) ) ) ) ) )

It also provides teachers with a superior self-definition as a profession since they will have passed courses in educational psychology and educational philosophy


( S ( NP-SBJ-1 ( NP ( PRP I ) ) ( NP ( PRP myself ) ) ) ( VP ( VBD took ) ( NP ( JJ such ) ( NNS courses ) ) ( PP-LOC ( IN in ) ( NP ( NN college ) ) ) ( S-ADV ( VP ( VBG thinking ) ( SBAR ( S ( NP-SBJ ( PRP I ) ) ( VP ( MD might ) ( VP ( VB end ) ( PRT ( RP up ) ) ( NP-PRD ( DT a ) ( NN schoolteacher ) ) ) ) ) ) ) ) ) )

I myself took such courses in college thinking I might end up a schoolteacher


( S ( NP-SBJ-1 ( PRP They ) ) ( VP ( MD could ) ( ADVP ( RB all ) ) ( VP ( ADVP ( RB fairly ) ) ( VB be ) ( VP ( VBN described ) ( PP-CLR ( IN as ) ( NP ( NN pap ) ( NNS courses ) ) ) ) ) ) )

They could all fairly be described as pap courses