( S ( SBAR-ADV ( IN While ) ( S ( NP-SBJ ( NNP Sears ) ) ( VP ( MD would ) ( RB n't ) ( VP ( VB comment ) ( PP-CLR ( IN on ) ( NP ( NP ( DT the ) ( NN brouhaha ) ) ( PP ( IN over ) ( NP ( NP ( NNP Mr. ) ( NNP Vila ) ( POS 's ) ) ( JJ commercial ) ( NNS endorsements ) ) ) ) ) ) ) ) ) ( NP-SBJ-1 ( PRP it ) ) ( VP ( VBZ appears ) ( S ( VP ( TO to ) ( VP ( VB be ) ( VP ( VBG building ) ( NP ( DT a ) ( NN fence ) ) ( PP-LOC-CLR ( IN around ) ( NP ( NP ( NNP Mr. ) ( NNP Vila ) ( POS 's ) ) ( NNS affections ) ) ) ) ) ) ) ) )

While Sears would n't comment on the brouhaha over Mr. Vila 's commercial endorsements it appears to be building a fence around Mr. Vila 's affections


( S ( NP-SBJ ( PRP$ His ) ( NN contract ) ) ( VP ( VBZ makes ) ( S ( NP-SBJ ( PRP him ) ) ( NP-PRD ( NP ( JJ exclusive ) ( NN spokesman ) ) ( PP ( IN for ) ( NP ( NP ( NNP Sears ) ( POS 's ) ) ( NN home ) ( NN improvement ) ( NN marketing ) ( NNS campaigns ) ) ) ) ) ) )

His contract makes him exclusive spokesman for Sears 's home improvement marketing campaigns


( S ( NP-SBJ ( NP ( NP ( NNP Ogilvy ) ( CC & ) ( NNP Mather ) ) ( PP-LOC ( IN in ) ( NP ( NNP Chicago ) ) ) ) ( NP ( NP ( DT a ) ( NN unit ) ) ( PP ( IN of ) ( NP ( NNP WPP ) ( NNP Group ) ( NNP PLC ) ) ) ) ) ( VP ( MD will ) ( VP ( VB handle ) ( NP ( DT the ) ( NN advertising ) ( NN account ) ( CC and ) ( NN syndication ) ) ) ) )

Ogilvy & Mather in Chicago a unit of WPP Group PLC will handle the advertising account and syndication


( S ( NP-SBJ ( NP ( DT The ) ( JJ only ) ( JJ other ) ( NN endorsement ) ) ( VP ( VBN permitted ) ( PP ( IN by ) ( NP-LGS ( DT the ) ( NN contract ) ) ) ) ) ( VP ( VBZ involves ) ( NP ( NP ( DT a ) ( NN series ) ) ( PP ( IN of ) ( NP ( NNP Time-Life ) ( NN home ) ( NN improvement ) ( CC and ) ( NN repair ) ( NNS books ) ) ) ) ) )

The only other endorsement permitted by the contract involves a series of Time-Life home improvement and repair books


( S ( NP-SBJ ( PRP$ His ) ( JJ other ) ( NNS agreements ) ( S ( VP ( TO to ) ( VP ( VB promote ) ( NP ( NNS products ) ) ) ) ) ) ( VP ( VBP have ) ( VP ( VBN expired ) ) ) )

His other agreements to promote products have expired


( NP ( NP ( JJ Little ) ( NN matter ) ) ( PP ( IN for ) ( NP ( NP ( NNP Mr. ) ( NNP Vila ) ) ( SBAR ( WHNP-1 ( WP who ) ) ( S ( VP ( VBZ complains ) ( SBAR ( IN that ) ( S ( NP-SBJ ( JJ public ) ( NN TV ) ) ( ADVP-TMP ( RB never ) ) ( VP ( VBD paid ) ( NP ( PRP me ) ) ( NP ( NP ( QP ( JJR more ) ( IN than ) ( CD 40,000 ) ) ) ( NP-ADV ( DT a ) ( NN year ) ) ) ) ) ) ) ) ) ) ) )

Little matter for Mr. Vila who complains that public TV never paid me more than 40,000 a year


( S ( NP-SBJ ( PRP He ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( NP ( PRP$ his ) ( NN compensation ) ) ( PP-LOC ( IN under ) ( NP ( DT the ) ( NNP Sears ) ( NN contract ) ) ) ) ( VP ( VBZ is ) ( NP-PRD ( DT a ) ( ADJP ( NN multimillion ) ( NN dollar ) ) ( NN deal ) ) ) ) ) ) )

He said his compensation under the Sears contract is a multimillion dollar deal


( S ( NP-SBJ ( NNP Diversified ) ( NNP Investment ) ( NNP Group ) ( NNP Inc. ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ-2 ( PRP it ) ) ( VP ( VBD agreed ) ( S ( VP ( TO to ) ( VP ( VB be ) ( VP ( VBN acquired ) ( PP ( IN by ) ( NP-LGS ( NNP Star ) ( NNPS States ) ( NNP Corp. ) ) ) ( PP-CLR ( IN for ) ( NP ( NP ( NN stock ) ) ( VP ( VBN valued ) ( PP-CLR ( IN at ) ( NP ( NP ( NP ( CD 13.75 ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ( CC or ) ( NP ( QP ( IN about ) ( CD 24.4 ) ( CD million ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Diversified Investment Group Inc. said it agreed to be acquired by Star States Corp. for stock valued at 13.75 a share or about 24.4 million


( S ( NP-SBJ ( NP ( NNP Diversified ) ) ( NP ( NP ( DT the ) ( VBG holding ) ( NN company ) ) ( PP ( IN for ) ( NP ( NNP Fidelity ) ( NNP Federal ) ( NNP Savings ) ( CC & ) ( NNP Loan ) ( NNP Association ) ) ) ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( DT the ) ( NN agreement ) ) ( ADVP ( RB also ) ) ( VP ( VBZ gives ) ( NP ( NNP Star ) ( NNPS States ) ) ( NP ( DT the ) ( NN option ) ( S ( VP ( TO to ) ( VP ( VB acquire ) ( NP ( NP ( CD 588,300 ) ) ( PP ( IN of ) ( NP ( NP ( NP ( NNP Diversified ) ( POS 's ) ) ( CD 1,774,326 ) ( NNS shares ) ) ( ADJP ( JJ outstanding ) ) ) ) ) ( PP ( IN under ) ( NP ( JJ certain ) ( NNS circumstances ) ) ) ) ) ) ) ) ) ) ) )

Diversified the holding company for Fidelity Federal Savings & Loan Association said the agreement also gives Star States the option to acquire 588,300 of Diversified 's 1,774,326 shares outstanding under certain circumstances


( S ( NP-SBJ ( DT The ) ( NN acquisition ) ) ( VP ( MD would ) ( VP ( VB give ) ( NP ( ADJP ( NNP Wilmington ) ( JJ Del.-based ) ) ( NNP Star ) ( NNPS States ) ) ( NP ( NP ( NN access ) ) ( PP ( TO to ) ( NP ( DT the ) ( NNP Pennsylvania ) ( NN market ) ) ) ) ) ) )

The acquisition would give Wilmington Del.-based Star States access to the Pennsylvania market


( S ( NP-SBJ ( DT The ) ( NN agreement ) ) ( VP ( VBZ is ) ( ADJP-PRD ( JJ subject ) ( PP ( TO to ) ( NP ( NP ( JJ regulatory ) ( NN approval ) ( CC and ) ( NN resolution ) ) ( PP ( IN of ) ( NP ( NP ( NNS lawsuits ) ) ( VP ( VBN brought ) ( PP ( IN by ) ( NP-LGS ( JJ certain ) ( NNP Diversified ) ( NNS holders ) ) ) ( PP ( IN in ) ( NP ( NP ( NN connection ) ) ( PP ( IN with ) ( NP ( DT the ) ( VBN proposed ) ( NN merger ) ) ) ) ) ) ) ) ) ) ) ) )

The agreement is subject to regulatory approval and resolution of lawsuits brought by certain Diversified holders in connection with the proposed merger


( S ( NP-SBJ-1 ( NNP H. ) ( NNP Marshall ) ( NNP Schwarz ) ) ( VP ( VBD was ) ( VP ( VBN named ) ( S ( NP-PRD ( NP ( NP ( NN chairman ) ) ( CC and ) ( NP ( NN chief ) ( JJ executive ) ( NN officer ) ) ) ( PP ( IN of ) ( NP ( NP ( NNP U.S. ) ( NNP Trust ) ( NNP Corp. ) ) ( NP ( NP ( DT a ) ( JJ private-banking ) ( NN firm ) ) ( PP ( IN with ) ( NP ( NP ( NNS assets ) ) ( PP ( IN under ) ( NP ( NN management ) ) ) ( PP ( IN of ) ( NP ( QP ( IN about ) ( CD 17 ) ( CD billion ) ) ) ) ) ) ) ) ) ) ) ) ) )

H. Marshall Schwarz was named chairman and chief executive officer of U.S. Trust Corp. a private-banking firm with assets under management of about 17 billion


( S ( NP-SBJ ( NP ( NNP Mr. ) ( NNP Schwarz ) ) ( ADJP ( NP ( CD 52 ) ( NNS years ) ) ( JJ old ) ) ) ( VP ( MD will ) ( VP ( VB succeed ) ( NP ( NNP Daniel ) ( NNP P. ) ( NNP Davison ) ) ( NP-TMP ( NNP Feb. ) ( CD 1 ) ) ( SBAR-TMP ( RB soon ) ( IN after ) ( S ( NP-SBJ ( NNP Mr. ) ( NNP Davison ) ) ( VP ( VBZ reaches ) ( NP ( NP ( NP ( DT the ) ( NN company ) ( POS 's ) ) ( JJ mandatory ) ( NN retirement ) ( NN age ) ) ( PP ( IN of ) ( NP ( CD 65 ) ) ) ) ) ) ) ) ) )

Mr. Schwarz 52 years old will succeed Daniel P. Davison Feb. 1 soon after Mr. Davison reaches the company 's mandatory retirement age of 65


( S ( NP-SBJ-1 ( NP ( NNP Mr. ) ( NNP Schwarz ) ) ( SBAR ( WHNP-2 ( WP who ) ) ( S ( VP ( VBZ is ) ( NP-PRD ( NP ( NN president ) ) ( PP ( IN of ) ( NP ( NNP U.S. ) ( NNP Trust ) ) ) ) ) ) ) ) ( VP ( MD will ) ( VP ( VB be ) ( VP ( VBN succeeded ) ( PP-LOC ( IN in ) ( NP ( DT that ) ( NN post ) ) ) ( PP ( IN by ) ( NP-LGS ( NP ( NNP Jeffrey ) ( NNP S. ) ( NNP Maurer ) ) ( NP ( CD 42 ) ) ( SBAR ( WHNP-3 ( WP who ) ) ( S ( VP ( VBZ is ) ( NP-PRD ( NP ( JJ executive ) ( NN vice ) ( NN president ) ) ( PP ( IN in ) ( NP ( NP ( NN charge ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( NN company ) ( POS 's ) ) ( NN asset-management ) ( NN group ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Mr. Schwarz who is president of U.S. Trust will be succeeded in that post by Jeffrey S. Maurer 42 who is executive vice president in charge of the company 's asset-management group


( S ( NP-SBJ ( NP ( NNP U.S. ) ( NNP Trust ) ) ( NP ( NP ( DT a ) ( JJ 136-year-old ) ( NN institution ) ) ( SBAR ( WHNP-2 ( WDT that ) ) ( S ( VP ( VBZ is ) ( NP-PRD ( NP ( CD one ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( JJS earliest ) ( NN high-net ) ( JJ worth ) ( NNS banks ) ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( NNP U.S. ) ) ) ) ) ) ) ) ) ) ) ( VP ( VBZ has ) ( VP ( VBN faced ) ( NP ( NP ( VBG intensifying ) ( NN competition ) ) ( PP ( IN from ) ( NP ( NP ( JJ other ) ( NNS firms ) ) ( SBAR ( WHNP-3 ( WDT that ) ) ( S ( VP ( VBP have ) ( VP ( VP ( VBN established ) ) ( CC and ) ( VP ( ADVP-MNR ( RB heavily ) ) ( VBN promoted ) ) ( NP-1 ( NP ( JJ private-banking ) ( NNS businesses ) ) ( PP ( IN of ) ( NP ( PRP$ their ) ( JJ own ) ) ) ) ) ) ) ) ) ) ) ) ) )

U.S. Trust a 136-year-old institution that is one of the earliest high-net worth banks in the U.S. has faced intensifying competition from other firms that have established and heavily promoted private-banking businesses of their own


( S ( PP ( IN As ) ( NP ( DT a ) ( NN result ) ) ) ( NP-SBJ-1 ( NP ( NNP U.S. ) ( NNP Trust ) ( POS 's ) ) ( NNS earnings ) ) ( VP ( VBP have ) ( VP ( VBN been ) ( VP ( VBN hurt ) ) ) ) )

As a result U.S. Trust 's earnings have been hurt


( S ( CC But ) ( NP-SBJ-1 ( NNP Mr. ) ( NNP Schwarz ) ) ( VP ( VBZ welcomes ) ( NP ( NP ( DT the ) ( NN competition ) ) ( PP-LOC ( IN in ) ( NP ( NP ( NNP U.S. ) ( NNP Trust ) ( POS 's ) ) ( NN flagship ) ( NNS businesses ) ) ) ) ( S-ADV ( VP ( VBG calling ) ( S ( NP-SBJ ( PRP it ) ) ( NP-PRD ( NN flattery ) ) ) ) ) ) )

But Mr. Schwarz welcomes the competition in U.S. Trust 's flagship businesses calling it flattery


( S ( NP-SBJ ( NNP Mr. ) ( NNP Schwarz ) ) ( VP ( VBZ says ) ( SBAR ( S ( NP-SBJ ( DT the ) ( NN competition ) ) ( VP ( VBZ broadens ) ( NP ( NP ( DT the ) ( NN base ) ) ( PP ( IN of ) ( NP ( NN opportunity ) ) ) ( PP ( IN for ) ( NP ( PRP us ) ) ) ) ) ) ) ) )

Mr. Schwarz says the competition broadens the base of opportunity for us


( S ( NP-SBJ ( JJ Other ) ( NNS firms ) ) ( VP ( VBP are ) ( VP ( VBG dealing ) ( PP-CLR ( IN with ) ( NP ( DT the ) ( NNS masses ) ) ) ) ) )

Other firms are dealing with the masses


( S ( S-TPC-1 ( NP-SBJ ( PRP I ) ) ( VP ( VBP do ) ( RB n't ) ( VP ( VB believe ) ( SBAR ( S ( NP-SBJ ( PRP they ) ) ( VP ( VBP have ) ( NP ( NP ( DT the ) ( NN culture ) ) ( SBAR ( S ( VP ( TO to ) ( ADVP ( RB adequately ) ) ( VP ( VB service ) ( NP ( JJ high-net-worth ) ( NNS individuals ) ) ) ) ) ) ) ) ) ) ) ) ) ( NP-SBJ ( PRP he ) ) ( VP ( VBZ adds ) ) )

I do n't believe they have the culture to adequately service high-net-worth individuals he adds


( S ( NP-SBJ ( NNP U.S. ) ( NNP Trust ) ) ( ADVP-TMP ( RB recently ) ) ( VP ( VBD introduced ) ( NP ( NP ( JJ certain ) ( JJ mutual-fund ) ( NNS products ) ) ( SBAR ( WHNP-1 ( WDT which ) ) ( S ( VP ( VBP allow ) ( S ( NP-SBJ ( PRP it ) ) ( VP ( TO to ) ( VP ( VB serve ) ( NP ( NP ( NNS customers ) ) ( PP ( IN with ) ( NP ( NP ( JJ minimum ) ( NNS deposits ) ) ( PP ( IN of ) ( NP ( CD 250,000 ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

U.S. Trust recently introduced certain mutual-fund products which allow it to serve customers with minimum deposits of 250,000


( S ( ADVP-TMP ( RB Previously ) ) ( NP-SBJ ( DT the ) ( NN company ) ) ( VP ( VBD advertised ) ( PP-CLR ( IN at ) ( NP ( DT the ) ( ADJP ( QP ( CD 2 ) ( CD million ) ) ) ( NN level ) ) ) ) )

Previously the company advertised at the 2 million level


( S ( S-TPC-2 ( S ( NP-SBJ ( PRP We ) ) ( VP ( VBP have ) ( ADVP-TMP ( RB always ) ) ( VP ( VBN taken ) ( NP ( JJR smaller ) ( NNS accounts ) ) ) ) ) ( CC but ) ( S ( ADVP-TMP ( RB now ) ) ( NP-SBJ ( PRP we ) ) ( VP ( VBP are ) ( VP ( VBG looking ) ( PP-CLR ( IN for ) ( NP ( NP ( JJR smaller ) ( NNS accounts ) ) ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( VP ( MD will ) ( VP ( VB grow ) ) ) ) ) ) ) ) ) ) ) ( NP-SBJ ( NNP Mr. ) ( NNP Schwarz ) ) ( VP ( VBZ says ) ) )

We have always taken smaller accounts but now we are looking for smaller accounts that will grow Mr. Schwarz says


( S ( S-TPC-1 ( NP-SBJ ( PRP$ Our ) ( NN bread ) ( CC and ) ( NN butter ) ) ( VP ( VBZ is ) ( ADVP ( RB still ) ) ( NP-PRD ( DT the ) ( ADJP ( QP ( CD 2 ) ( CD million ) ( TO to ) ( CD 20 ) ( CD million ) ) ) ( NN account ) ) ) ) ( NP-SBJ ( PRP he ) ) ( VP ( VBZ says ) ) )

Our bread and butter is still the 2 million to 20 million account he says


( S ( S-TPC-1 ( NP-SBJ ( DT The ) ( JJ new ) ( NNS services ) ) ( VP ( VBP allow ) ( S ( NP-SBJ ( NNP U.S. ) ( NNP Trust ) ) ( VP ( TO to ) ( VP ( VB cater ) ( PP-CLR ( TO to ) ( NP ( DT the ) ( JJ new ) ( NN wealth ) ) ) ) ) ) ) ) ( NP-SBJ ( NNP Mr. ) ( NNP Schwarz ) ) ( VP ( VBZ says ) ) )

The new services allow U.S. Trust to cater to the new wealth Mr. Schwarz says


( S ( NP-SBJ ( NP ( JJ Quarterly ) ( JJ net ) ( NN income ) ) ( NP-TMP ( DT this ) ( NN year ) ) ) ( VP ( VBZ has ) ( VP ( VBN risen ) ( PP-CLR ( RB just ) ( IN over ) ( NP ( NP ( JJ comparable ) ( NNS periods ) ) ( PP-TMP ( IN in ) ( NP ( NP ( CD 1988 ) ) ( SBAR ( WHADVP-1 ( WRB when ) ) ( S ( NP-SBJ ( JJ year-end ) ( NN net ) ) ( VP ( VBD was ) ( PP-LOC-PRD ( IN below ) ( NP ( DT the ) ( CD 1987 ) ( NN level ) ) ) ) ) ) ) ) ) ) ) ) )

Quarterly net income this year has risen just over comparable periods in 1988 when year-end net was below the 1987 level


( S ( PP-TMP ( IN In ) ( NP ( NP ( DT this ) ( NN year ) ( POS 's ) ) ( JJ third ) ( NN quarter ) ) ) ( PP ( IN for ) ( NP ( NN example ) ) ) ( NP-SBJ ( NN net ) ) ( VP ( VBD was ) ( NP-PRD ( NP ( QP ( CD 10.5 ) ( CD million ) ) ) ( CC or ) ( NP ( NP ( CD 1.05 ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ( PP ( VBN compared ) ( PP ( IN with ) ( NP ( NP ( NP ( QP ( CD 10.3 ) ( CD million ) ) ) ( CC or ) ( NP ( NP ( CD 1.02 ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ( ADVP-TMP ( NP ( DT a ) ( NN year ) ) ( RBR earlier ) ) ) ) ) ) )

In this year 's third quarter for example net was 10.5 million or 1.05 a share compared with 10.3 million or 1.02 a share a year earlier


( S ( NP-SBJ ( NP ( NNS Assets ) ) ( PP-TMP ( IN as ) ( PP ( IN of ) ( NP ( NNP Sept. ) ( CD 30 ) ) ) ) ) ( VP ( VBD fell ) ( PP-DIR ( TO to ) ( NP ( QP ( CD 2.46 ) ( CD billion ) ) ) ) ( PP-DIR ( IN from ) ( NP ( QP ( IN about ) ( CD 2.77 ) ( CD billion ) ) ) ) ) )

Assets as of Sept. 30 fell to 2.46 billion from about 2.77 billion


( S ( S-TPC-1 ( NP-SBJ ( PRP We ) ) ( VP ( MD will ) ( VP ( VB have ) ( NP ( DT a ) ( ADJP ( RB reasonably ) ( JJ flat ) ) ( NN year ) ) ( NP ( DT this ) ( NN year ) ) ) ) ) ( NP-SBJ ( NNP Mr. ) ( NNP Schwarz ) ) ( VP ( VBZ says ) ) )

We will have a reasonably flat year this year Mr. Schwarz says


( S ( NP-SBJ ( NNP Mr. ) ( NNP Schwarz ) ) ( ADVP ( RB also ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ-1 ( NP ( NNS costs ) ) ( VP ( VBN associated ) ( PP-CLR ( IN with ) ( NP ( NP ( NP ( NNP U.S. ) ( NNP Trust ) ( POS 's ) ) ( VBN planned ) ( NN move ) ) ( PP ( TO to ) ( NP ( NN midtown ) ( NNP Manhattan ) ) ) ( PP ( IN from ) ( NP ( NNP Wall ) ( NNP Street ) ) ) ) ) ) ) ( VP ( MD will ) ( VP ( VB continue ) ( S ( VP ( TO to ) ( VP ( VB be ) ( NP-PRD ( NP ( DT a ) ( NN drag ) ) ( PP ( IN on ) ( NP ( NNS earnings ) ) ) ) ) ) ) ( PP-TMP ( IN through ) ( NP ( CD 1990 ) ) ) ) ) ) ) ) )

Mr. Schwarz also said costs associated with U.S. Trust 's planned move to midtown Manhattan from Wall Street will continue to be a drag on earnings through 1990


( S ( S ( NP-SBJ ( NP ( NNP Mr. ) ( NNP Schwarz ) ( POS 's ) ) ( NN great-grandfather ) ) ( VP ( VBD founded ) ( NP ( DT the ) ( NNP New ) ( NNP York ) ( NN toy ) ( NN store ) ( NNP F.A.O. ) ( NNP Schwarz ) ) ) ) ( CC but ) ( S ( NP-SBJ ( PRP$ his ) ( NN family ) ) ( ADVP-TMP ( RB no ) ( RB longer ) ) ( VP ( VBZ has ) ( NP ( NP ( NNS ties ) ) ( PP ( TO to ) ( NP ( DT the ) ( NN company ) ) ) ) ) ) )

Mr. Schwarz 's great-grandfather founded the New York toy store F.A.O. Schwarz but his family no longer has ties to the company


( S ( NP-SBJ ( NP ( NNP Mr. ) ( NNP Schwarz ) ( POS 's ) ) ( NN father ) ) ( VP ( VBD was ) ( NP-PRD ( DT a ) ( NNP U.S. ) ( NNP Trust ) ( NN trustee ) ) ( PP-TMP ( IN until ) ( NP ( CD 1974 ) ) ) ) )

Mr. Schwarz 's father was a U.S. Trust trustee until 1974


( S ( NP-SBJ ( NNP U.S. ) ( NNP Trust ) ) ( ADVP ( RB also ) ) ( VP ( VBD created ) ( NP ( NP ( NP ( DT a ) ( JJ four-member ) ( NN office ) ) ( PP ( IN of ) ( NP ( DT the ) ( NN chairman ) ) ) ) ( ADJP ( JJ effective ) ( NP-TMP ( NNP Feb. ) ( CD 1 ) ) ) ) ) )

U.S. Trust also created a four-member office of the chairman effective Feb. 1


( S ( NP-SBJ ( PRP It ) ) ( VP ( MD will ) ( VP ( VB include ) ( NP ( NNP Messrs. ) ( NNP Schwarz ) ( CC and ) ( NNP Maurer ) ) ) ) )

It will include Messrs. Schwarz and Maurer


( S ( NP-SBJ-2 ( NP ( NP ( NNP Donald ) ( NNP M. ) ( NNP Roberts ) ) ( NP ( CD 54 ) ) ( NP ( NN treasurer ) ) ) ( CC and ) ( NP ( NP ( NNP Frederick ) ( NNP S. ) ( NNP Wonham ) ) ( NP ( CD 58 ) ) ( SBAR ( WHNP-1 ( WP who ) ) ( S ( VP ( VBZ takes ) ( NP ( NP ( NN responsibility ) ) ( PP ( IN for ) ( NP ( DT the ) ( JJ funds-service ) ( NN group ) ) ) ) ) ) ) ) ) ( VP ( VP ( VBD were ) ( VP ( VBN named ) ( S ( NP-PRD ( NN vice ) ( NNS chairmen ) ) ) ) ) ( CC and ) ( VP ( MD will ) ( VP ( VB serve ) ( PP-LOC ( IN in ) ( NP ( NP ( DT the ) ( NN office ) ) ( PP ( IN of ) ( NP ( DT the ) ( NN chairman ) ) ) ) ) ) ) ) )

Donald M. Roberts 54 treasurer and Frederick S. Wonham 58 who takes responsibility for the funds-service group were named vice chairmen and will serve in the office of the chairman


( S ( S ( NP-SBJ ( NNP Mr. ) ( NNP Roberts ) ) ( VP ( VBZ continues ) ( PP ( IN as ) ( NP ( NN treasurer ) ) ) ) ) ( CC and ) ( S ( NP-SBJ ( NNP Mr. ) ( NNP Wonham ) ) ( VP ( VBZ remains ) ( ADJP-PRD ( JJ responsible ) ( PP ( IN for ) ( NP ( NP ( DT the ) ( NNS offices ) ) ( PP ( IN of ) ( NP ( NP ( NN comptroller ) ) ( NP ( NN planning ) ) ( NP ( NN marketing ) ) ( CC and ) ( NP ( JJ general ) ( NNS services ) ) ) ) ) ) ) ) ) )

Mr. Roberts continues as treasurer and Mr. Wonham remains responsible for the offices of comptroller planning marketing and general services


( S ( NP-SBJ-1 ( NP ( NNP Frederick ) ( NNP B. ) ( NNP Taylor ) ) ( NP ( CD 48 ) ) ) ( ADVP ( RB also ) ) ( VP ( VBD was ) ( VP ( VBN named ) ( S ( NP-PRD ( NP ( DT a ) ( NX ( NX ( NN vice ) ( NN chairman ) ) ( CC and ) ( NX ( NN chief ) ( NN investment ) ( NN officer ) ) ) ) ( NP ( DT a ) ( JJ new ) ( NN post ) ) ) ) ) ) )

Frederick B. Taylor 48 also was named a vice chairman and chief investment officer a new post


( S ( NP-SBJ ( PRP He ) ) ( ADVP-TMP ( RB previously ) ) ( VP ( VBD held ) ( NP ( JJ similar ) ( NNS responsibilities ) ) ) )

He previously held similar responsibilities


( S ( NP-SBJ ( NNP Mr. ) ( NNP Taylor ) ) ( ADVP ( RB also ) ) ( VP ( VP ( VBD was ) ( VP ( VBN named ) ( S ( NP-PRD ( DT a ) ( NN director ) ) ) ( S-ADV ( VP ( VBG increasing ) ( NP ( DT the ) ( NN board ) ) ( PP-CLR ( TO to ) ( NP ( CD 22 ) ) ) ) ) ) ) ( CC but ) ( VP ( VBZ is ) ( RB not ) ( NP-PRD ( NP ( NN part ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( JJ new ) ( NN office ) ) ( PP ( IN of ) ( NP ( DT the ) ( NN chairman ) ) ) ) ) ) ) ) )

Mr. Taylor also was named a director increasing the board to 22 but is not part of the new office of the chairman


( S ( NP-SBJ ( NP ( NNP James ) ( NNP E. ) ( NNP Bacon ) ) ( NP ( CD 58 ) ) ( NP ( NP ( JJ executive ) ( NN vice ) ( NN president ) ) ( SBAR ( WHNP-1 ( WP who ) ) ( S ( VP ( VBZ has ) ( VP ( VBN directed ) ( NP ( DT the ) ( JJ funds-service ) ( NN group ) ) ) ) ) ) ) ) ( VP ( MD will ) ( VP ( VB retire ) ) ) )

James E. Bacon 58 executive vice president who has directed the funds-service group will retire


( S ( NP-SBJ ( NP ( NP ( DT This ) ( JJ British ) ( UCP ( NN banking ) ( CC and ) ( NNS financial-services ) ) ( NN group ) ( POS 's ) ) ( NN investment-banking ) ( NN arm ) ) ( NP ( NNP Barclays ) ( NNP de ) ( NNP Zoete ) ( NNP Wedd ) ( NNP Group ) ) ) ( VP ( VBD announced ) ( NP ( NP ( DT the ) ( VBG following ) ( NNS appointments ) ) ( PP-LOC ( IN at ) ( NP ( PRP$ its ) ( NN merchant-banking ) ( NN subsidiary ) ( NNP Barclays ) ( NNP de ) ( NNP Zoete ) ( NNP Wedd ) ( NNP Ltd ) ) ) ) ) )

This British banking and financial-services group 's investment-banking arm Barclays de Zoete Wedd Group announced the following appointments at its merchant-banking subsidiary Barclays de Zoete Wedd Ltd


( S ( NP-SBJ-1 ( NP ( NNP John ) ( NNP Padovan ) ) ( ADJP ( NP ( CD 51 ) ( NNS years ) ) ( JJ old ) ) ) ( VP ( VBD was ) ( VP ( VBN named ) ( S ( NP-PRD ( DT a ) ( NN deputy ) ( NN chairman ) ) ) ) ) )

John Padovan 51 years old was named a deputy chairman


( S ( NP-SBJ ( NNP Mr. ) ( NNP Padovan ) ) ( VP ( VBZ is ) ( ADVP-TMP ( RB currently ) ) ( NP-PRD ( NP ( DT a ) ( NN director ) ) ( PP-LOC ( IN at ) ( NP ( NNP Barclays ) ( NNP de ) ( NNP Zoete ) ( NNP Wedd ) ( NNP Ltd ) ) ) ) ) )

Mr. Padovan is currently a director at Barclays de Zoete Wedd Ltd


( S ( NP-SBJ-1 ( NP ( NNP Graham ) ( NNP Pimlott ) ) ( NP ( CD 40 ) ) ) ( VP ( VBD was ) ( VP ( VBN named ) ( PP-CLR ( TO to ) ( NP ( NP ( DT the ) ( JJ new ) ( NN post ) ) ( PP ( IN of ) ( NP ( NP ( NN chief ) ( JJ executive ) ( NN officer ) ) ( PP ( IN of ) ( NP ( DT the ) ( NN merchant-banking ) ( JJ corporate-finance ) ( NN division ) ) ) ) ) ) ) ) ) )

Graham Pimlott 40 was named to the new post of chief executive officer of the merchant-banking corporate-finance division


( S ( NP-SBJ-1 ( NP ( NNP Callum ) ( NNP McCarthy ) ) ( NP ( CD 45 ) ) ) ( VP ( VBD was ) ( VP ( VBN named ) ( S ( UCP-PRD ( PP ( TO to ) ( NP ( NP ( DT the ) ( JJ new ) ( NN post ) ) ( PP ( IN of ) ( NP ( NP ( JJ deputy ) ( NN head ) ) ( PP ( IN of ) ( NP ( DT the ) ( JJ corporate-finance ) ( NN division ) ) ) ) ) ) ) ( CC and ) ( NP ( DT a ) ( VBG managing ) ( NN director ) ) ) ) ) ) )

Callum McCarthy 45 was named to the new post of deputy head of the corporate-finance division and a managing director


( S ( NP-SBJ ( NP ( NNP Mr. ) ( NNP Pimlott ) ) ( CC and ) ( NP ( NNP Mr. ) ( NNP McCarthy ) ) ) ( VP ( VBP join ) ( NP ( NNP Barclay ) ( POS 's ) ) ( PP ( IN from ) ( NP ( NP ( NNP Kleinwort ) ( NNP Benson ) ( NNP Ltd. ) ) ( SBAR ( WHADVP-2 ( WRB where ) ) ( S ( NP-SBJ ( PRP they ) ) ( VP ( VBD served ) ( PP-CLR ( IN as ) ( NP ( NNS directors ) ) ) ) ) ) ) ) ) )

Mr. Pimlott and Mr. McCarthy join Barclay 's from Kleinwort Benson Ltd. where they served as directors


( S ( S-TPC-2 ( NP-SBJ-1 ( DT The ) ( JJ Canadian ) ( NN government ) ) ( VP ( VBZ plans ) ( S ( VP ( TO to ) ( VP ( VB auction ) ( PP-TMP ( IN on ) ( NP ( NNP Tuesday ) ) ) ( NP ( NP ( QP ( CD 750 ) ( CD million ) ) ( JJ Canadian ) ( NNS dollars ) ) ( PRN ( NP ( QP ( CD 639.9 ) ( CD million ) ) ) ) ( PP ( IN of ) ( NP ( NP ( CD 9.25 ) ( NN % ) ( NNS bonds ) ) ( ADJP ( JJ due ) ( NP-TMP ( NNP Dec. ) ( CD 1 ) ( CD 1999 ) ) ) ) ) ) ) ) ) ) ) ( NP-SBJ ( DT the ) ( NNP Finance ) ( NNP Department ) ) ( VP ( VBD said ) ) )

The Canadian government plans to auction on Tuesday 750 million Canadian dollars 639.9 million of 9.25 % bonds due Dec. 1 1999 the Finance Department said


( S ( NP-SBJ-1 ( NP ( NNS Proceeds ) ) ( PP ( IN of ) ( NP ( DT the ) ( NN issue ) ) ) ) ( VP ( MD will ) ( VP ( VB be ) ( VP ( VBN used ) ( PP-CLR ( IN for ) ( NP ( JJ general ) ( NN government ) ( NNS purposes ) ) ) ) ) ) )

Proceeds of the issue will be used for general government purposes


( S ( NP-SBJ ( NP ( DT A ) ( NN volcano ) ) ) ( VP ( MD will ) ( VP ( VB erupt ) ( NP-TMP ( JJ next ) ( NN month ) ) ( PP-LOC ( IN on ) ( NP ( DT the ) ( JJ fabled ) ( NNP Strip ) ) ) ( NP-1 ( NP ( DT a ) ( JJ 60-foot ) ( NN mountain ) ) ( VP ( VBG spewing ) ( NP ( NN smoke ) ( CC and ) ( NN flame ) ) ( NP-TMP ( DT every ) ( CD five ) ( NNS minutes ) ) ) ) ) ) )

A volcano will erupt next month on the fabled Strip a 60-foot mountain spewing smoke and flame every five minutes


( S ( NP-SBJ ( DT The ) ( JJ man-made ) ( NN inferno ) ) ( VP ( MD will ) ( VP ( VB tower ) ( PP-LOC-CLR ( IN over ) ( NP ( NP ( DT a ) ( JJ man-made ) ( NN lagoon ) ) ( PP ( IN with ) ( NP ( NP ( QP ( RBR more ) ( IN than ) ( CD four ) ) ( NNS acres ) ) ( PP ( IN of ) ( NP ( NNS pools ) ( NNS grottoes ) ( CC and ) ( NNS waterfalls ) ) ) ) ) ) ) ) ) )

The man-made inferno will tower over a man-made lagoon with more than four acres of pools grottoes and waterfalls


( S ( NP-SBJ-2 ( NNS Visitors ) ) ( S-ADV ( VP ( VBN whisked ) ( PP-CLR ( IN from ) ( NP ( DT the ) ( NNP Strip ) ) ) ( PP-LOC ( IN on ) ( NP ( DT a ) ( VBG moving ) ( NN walkway ) ) ) ) ) ( VP ( MD will ) ( VP ( VB glide ) ( PP-DIR ( IN over ) ( NP ( NP ( DT a ) ( NN habitat ) ) ( PP ( IN for ) ( NP ( NP ( JJ rare ) ( JJ white ) ( NNS tigers ) ) ( SBAR ( WHNP-1 ( WDT which ) ) ( S ( VP ( MD will ) ( VP ( VB star ) ( PP-LOC-CLR ( IN in ) ( NP ( NP ( NNS performances ) ) ( PP ( IN by ) ( NP ( NP ( DT the ) ( JJ famed ) ( NN illusionist ) ( NN team ) ) ( PP ( IN of ) ( NP ( NNP Siegfried ) ( CC & ) ( NNP Roy ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Visitors whisked from the Strip on a moving walkway will glide over a habitat for rare white tigers which will star in performances by the famed illusionist team of Siegfried & Roy


( S ( ADVP ( RB Nearby ) ) ( NP-SBJ ( CD six ) ( NNS dolphins ) ) ( VP ( MD will ) ( VP ( VB frolic ) ( PP-LOC ( IN in ) ( NP ( DT a ) ( QP ( CD 1.5 ) ( JJ million-gallon ) ) ( NN saltwater ) ( NN aquarium ) ) ) ) ) )

Nearby six dolphins will frolic in a 1.5 million-gallon saltwater aquarium


( SINV ( PP-LOC-CLR-TPC-1 ( IN At ) ( NP ( NP ( DT the ) ( NN core ) ) ( PP ( IN of ) ( NP ( PDT all ) ( DT this ) ) ) ) ) ( VP ( VBZ stands ) ) ( NP-SBJ ( DT a ) ( NN hotel ) ) )

At the core of all this stands a hotel


( S ( PP-LOC ( IN In ) ( NP ( NP ( DT the ) ( NN lobby ) ) ( PP-LOC ( IN behind ) ( NP ( PRP$ its ) ( JJ nine-story ) ( JJ orchid-strewn ) ( NN atrium ) ) ) ) ) ( NP-SBJ ( DT a ) ( JJ 20,000-gallon ) ( NN aquarium ) ) ( VP ( MD will ) ( VP ( VB come ) ( ADJP-PRD ( JJ alive ) ( PP ( IN with ) ( NP ( NP ( NNS sharks ) ) ( NP ( NNS stingrays ) ) ( NP ( NN angelfish ) ) ( NP ( NNS puffers ) ) ( CC and ) ( NP ( NP ( JJ other ) ( NNS creatures ) ) ( PP ( IN of ) ( NP ( DT the ) ( JJ deep ) ) ) ) ) ) ) ) ) )

In the lobby behind its nine-story orchid-strewn atrium a 20,000-gallon aquarium will come alive with sharks stingrays angelfish puffers and other creatures of the deep


( FRAG ( CC And ) ( INTJ ( UH oh ) ) ( INTJ ( UH yes ) ) )

And oh yes


( S ( NP-SBJ ( EX There ) ) ( VP ( VBZ 's ) ( NP-PRD ( NP ( DT a ) ( NN casino ) ) ( NP ( NP ( DT the ) ( JJ financial ) ( NN heart ) ) ( PP ( IN of ) ( NP ( NP ( PRP it ) ) ( NP ( DT all ) ) ) ) ) ) ) )

There 's a casino the financial heart of it all


( S ( NP-SBJ ( DT This ) ) ( VP ( VBZ is ) ( NP-PRD ( NP ( DT the ) ( NNP Mirage ) ) ( NP ( NP ( DT a ) ( ADJP ( QP ( CD 630 ) ( CD million ) ) ) ( JJ island-fantasy ) ( NN hotel-casino ) ) ( VP ( ADVP-TMP ( RB now ) ) ( VBG being ) ( VP ( VBN completed ) ( PP ( IN for ) ( NP ( NP ( VBG opening ) ) ( PP-TMP ( IN in ) ( NP ( NNP November ) ) ) ( PP ( IN by ) ( NP ( NNP Golden ) ( NNP Nugget ) ( NNP Inc ) ) ) ) ) ) ) ) ) ) )

This is the Mirage a 630 million island-fantasy hotel-casino now being completed for opening in November by Golden Nugget Inc


( S ( NP-SBJ ( PRP It ) ) ( VP ( VBZ 's ) ( NP-PRD ( NP ( DT the ) ( ADJP ( RBS most ) ( JJ stunning ) ) ( NN example ) ) ( PP ( IN of ) ( NP ( NP ( NNP Las ) ( NNP Vegas ) ( POS 's ) ) ( JJ concerted ) ( NN effort ) ( S ( VP ( TO to ) ( VP ( VB transform ) ( NP ( PRP itself ) ) ( PP-CLR ( IN into ) ( NP ( NP ( DT a ) ( JJ world-famous ) ( NN vacation ) ( NN resort ) ) ( PP ( IN for ) ( NP ( NP ( NNS families ) ) ( CONJP ( RB as ) ( RB well ) ( IN as ) ) ( NP ( NNS gamblers ) ) ) ) ) ) ) ) ) ) ) ) ) )

It 's the most stunning example of Las Vegas 's concerted effort to transform itself into a world-famous vacation resort for families as well as gamblers


( S ( NP-SBJ ( NNP Las ) ( NNP Vegas ) ) ( VP ( VBZ has ) ( VP ( VBN seen ) ( NP ( NP ( NN nothing ) ) ( PP ( RB quite ) ( IN like ) ( NP ( PRP it ) ) ) ) ( ADVP-TMP ( IN before ) ) ) ) )

Las Vegas has seen nothing quite like it before


( SINV ( PP-TMP ( RB Not ) ( IN for ) ( NP ( CD 15 ) ( NNS years ) ) ) ( VBZ has ) ( NP-SBJ ( DT a ) ( JJ big ) ( JJ new ) ( NN hotel-casino ) ) ( VP ( VBN opened ) ( ADVP-LOC ( RB here ) ) ) )

Not for 15 years has a big new hotel-casino opened here


( S ( ADVP-TMP ( RB Now ) ) ( NP-SBJ ( NP ( DT the ) ( NNP Mirage ) ) ( CC and ) ( NP ( NP ( NNP Circus ) ( NNP Circus ) ( NNPS Enterprises ) ( NNP Inc. ) ( POS 's ) ) ( ADJP ( QP ( CD 290 ) ( CD million ) ) ) ( NNP Excalibur ) ) ) ( VP ( VBP are ) ( VP ( VBG going ) ( PRT ( IN up ) ) ) ) )

Now the Mirage and Circus Circus Enterprises Inc. 's 290 million Excalibur are going up


( S ( NP-SBJ-1 ( DT The ) ( NNP Excalibur ) ) ( PP ( IN with ) ( NP ( NP ( DT a ) ( JJ castlelike ) ( NN hotel ) ) ( NP ( VBG jousting ) ( NNS tournaments ) ) ( CC and ) ( NP ( JJ other ) ( JJ Arthurian ) ( NNS attractions ) ) ) ) ( VP ( MD will ) ( VP ( VB be ) ( ADJP-PRD ( JJ able ) ( S ( VP ( TO to ) ( VP ( VB handle ) ( NP ( NP ( QP ( IN up ) ( TO to ) ( CD 30,000 ) ) ( NNS visitors ) ) ( NP-ADV ( DT a ) ( NN day ) ) ) ) ) ) ) ( SBAR-TMP ( WHADVP-2 ( WRB when ) ) ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBZ opens ) ( PP-TMP ( IN in ) ( NP ( CD 1990 ) ) ) ) ) ) ) ) )

The Excalibur with a castlelike hotel jousting tournaments and other Arthurian attractions will be able to handle up to 30,000 visitors a day when it opens in 1990


( S ( SBAR-ADV ( IN If ) ( S ( NP-SBJ ( NNP MGM ) ( NNP Grand ) ( NNP Inc. ) ) ( VP ( VBZ proceeds ) ( PP-CLR ( IN with ) ( NP ( NP ( PRP$ its ) ( NN plan ) ) ( PP ( IN for ) ( NP ( NP ( DT an ) ( NN amusement ) ( NN park ) ) ( PRN ( NP ( NP ( DT a ) ( ADJP ( QP ( CD 700 ) ( CD million ) ) ) ( NN movieland ) ( NN resort ) ) ( PP ( IN with ) ( NP ( DT a ) ( NX ( NX ( JJ working ) ( NN studio ) ) ( NX ( NN casino ) ) ( CC and ) ( NX ( JJ 5,000-room ) ( NN hotel ) ) ) ) ) ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( VP ( MD would ) ( VP ( VB become ) ( NP-PRD ( NP ( NNP Las ) ( NNP Vegas ) ( POS 's ) ) ( JJS biggest ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ( NP-SBJ ( NP ( DT the ) ( NN investment ) ) ( PP ( IN in ) ( NP ( DT the ) ( CD three ) ( NNS properties ) ) ) ) ( VP ( MD will ) ( VP ( VB total ) ( NP ( QP ( DT some ) ( CD 1.6 ) ( CD billion ) ) ) ) ) )

If MGM Grand Inc. proceeds with its plan for an amusement park a 700 million movieland resort with a working studio casino and 5,000-room hotel that would become Las Vegas 's biggest the investment in the three properties will total some 1.6 billion


( S ( NP-SBJ-1 ( NNP MGM ) ( NNP Grand ) ) ( VP ( VBZ has ) ( VP ( VBN agreed ) ( S ( VP ( TO to ) ( VP ( VB buy ) ( NP ( NP ( DT a ) ( JJ 117-acre ) ( NN site ) ) ( PP ( IN for ) ( NP ( DT the ) ( NN resort ) ) ) ) ( PP-CLR ( IN for ) ( NP ( NP ( QP ( CD 93 ) ( CD million ) ) ) ( PP ( IN in ) ( NP ( NP ( NN cash ) ) ( CC plus ) ( NP ( NP ( NN stock ) ) ( VP ( ADVP-TMP ( RB currently ) ) ( VBN valued ) ( PP-CLR ( IN at ) ( NP ( QP ( RB nearly ) ( CD 30 ) ( CD million ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

MGM Grand has agreed to buy a 117-acre site for the resort for 93 million in cash plus stock currently valued at nearly 30 million


( S ( NP-SBJ ( JJR Smaller ) ( NNS projects ) ) ( VP ( VBP swell ) ( NP ( DT the ) ( NN figure ) ) ( PP-DIR ( TO to ) ( NP ( QP ( IN at ) ( JJS least ) ( CD 2.5 ) ( CD billion ) ) ) ) ) )

Smaller projects swell the figure to at least 2.5 billion


( S ( NP-SBJ ( NP ( RB Still ) ( JJ other ) ( NNS projects ) ) ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( VP ( VP ( VBP have ) ( VP ( VBN been ) ( VP ( VP ( VBN announced ) ) ( CC but ) ( VP ( ADVP ( RB not ) ( RB yet ) ) ( VBN started ) ) ) ) ) ) ) ) ) ( VP ( MD could ) ( VP ( VB put ) ( NP ( NNS expenditures ) ) ( PP-PUT ( IN above ) ( NP ( NP ( QP ( CD 3 ) ( CD billion ) ) ) ( PP-TMP ( IN over ) ( NP ( DT the ) ( JJ next ) ( JJ few ) ( NNS years ) ) ) ) ) ) ) )

Still other projects that have been announced but not yet started could put expenditures above 3 billion over the next few years


( S ( NP-SBJ ( NP ( NNP Stephen ) ( NNP A. ) ( NNP Wynn ) ) ( SBAR ( WHNP-1 ( WP who ) ) ( S ( VP ( VBZ owns ) ( NP ( NP ( CD 29.4 ) ( NN % ) ) ( PP ( IN of ) ( NP ( NP ( NNP Golden ) ( NNP Nugget ) ( POS 's ) ) ( NNS shares ) ) ) ) ) ) ) ) ( VP ( VBZ says ) ( SBAR ( S ( NP-SBJ ( NP ( DT the ) ( NNP Mirage ) ) ( CC and ) ( NP ( JJ other ) ( NNS projects ) ) ) ( VP ( MD will ) ( VP ( VB help ) ( S ( NP-SBJ ( NNP Las ) ( NNP Vegas ) ) ( VP ( VB attract ) ( NP ( NP ( DT a ) ( JJ whole ) ( JJ new ) ( NN generation ) ) ( PP ( IN of ) ( NP ( NNS visitors ) ) ) ) ) ) ) ) ) ) ) )

Stephen A. Wynn who owns 29.4 % of Golden Nugget 's shares says the Mirage and other projects will help Las Vegas attract a whole new generation of visitors


( S ( S-TPC-1 ( SBAR-ADV ( SBAR ( IN If ) ( S ( NP-SBJ ( PRP you ) ) ( VP ( VBP create ) ( NP ( DT a ) ( NN wonderment ) ) ) ) ) ( SBAR ( IN if ) ( S ( NP-SBJ ( PRP you ) ) ( VP ( VBP create ) ( NP ( NP ( NN something ) ) ( ADJP ( ADJP ( RB so ) ( JJ exciting ) ) ( SBAR ( IN that ) ( S ( NP-SBJ-2 ( DT the ) ( JJ public ) ) ( VP ( VBZ dreams ) ( PP-CLR ( IN of ) ( S-NOM ( VP ( VBG being ) ( NP-PRD ( NP ( NN part ) ) ( PP ( IN of ) ( NP ( PRP it ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ( ADVP ( RB then ) ) ( NP-SBJ ( PRP they ) ) ( VP ( MD 'll ) ( VP ( VB come ) ) ) ) ( NP-SBJ ( PRP he ) ) ( VP ( VBZ says ) ) )

If you create a wonderment if you create something so exciting that the public dreams of being part of it then they 'll come he says


( S ( NP-SBJ ( NP ( DT The ) ( NNS projects ) ) ( PP ( RB already ) ( IN under ) ( NP ( NN construction ) ) ) ) ( VP ( MD will ) ( VP ( VB increase ) ( NP ( NP ( NP ( NNP Las ) ( NNP Vegas ) ( POS 's ) ) ( NN supply ) ) ( PP ( IN of ) ( NP ( NN hotel ) ( NNS rooms ) ) ) ) ( PP-EXT ( IN by ) ( NP ( NP ( CD 11,795 ) ) ( CC or ) ( NP ( QP ( RB nearly ) ( CD 20 ) ) ( NN % ) ) ) ) ( PP-DIR ( TO to ) ( NP ( CD 75,500 ) ) ) ) ) )

The projects already under construction will increase Las Vegas 's supply of hotel rooms by 11,795 or nearly 20 % to 75,500


( S ( PP ( IN By ) ( NP ( NP ( DT a ) ( NN rule ) ) ( PP ( IN of ) ( NP ( NN thumb ) ) ) ( PP ( IN of ) ( NP ( NP ( CD 1.5 ) ( JJ new ) ( NNS jobs ) ) ( PP ( IN for ) ( NP ( DT each ) ( JJ new ) ( NN hotel ) ( NN room ) ) ) ) ) ) ) ( NP-SBJ ( NNP Clark ) ( NNP County ) ) ( VP ( MD will ) ( VP ( VB have ) ( NP ( QP ( RB nearly ) ( CD 18,000 ) ) ( JJ new ) ( NNS jobs ) ) ) ) )

By a rule of thumb of 1.5 new jobs for each new hotel room Clark County will have nearly 18,000 new jobs


( S ( NP-SBJ ( DT The ) ( NN county ) ) ( PP-TMP ( IN at ) ( NP ( NP ( DT the ) ( NN end ) ) ( PP ( IN of ) ( NP ( CD 1988 ) ) ) ) ) ( VP ( VBD had ) ( NP ( NP ( CD 307,000 ) ( NNS jobs ) ) ( NP ( NP ( CD 95,400 ) ) ( PP ( IN of ) ( NP ( PRP them ) ) ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( NN tourist ) ( NN industry ) ) ) ) ) ) )

The county at the end of 1988 had 307,000 jobs 95,400 of them in the tourist industry


( S ( NP-SBJ ( NP ( NNS Projects ) ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( VBG talking ) ( CC or ) ( NN blueprint ) ( NN stage ) ) ) ) ( VP ( MD would ) ( VP ( VB add ) ( NP ( DT a ) ( JJR further ) ( CD 48,000 ) ( NNS rooms ) ) ) ) )

Projects in the talking or blueprint stage would add a further 48,000 rooms


( S ( NP-SBJ ( NN Hotel-casino ) ( NNS operators ) ) ( VP ( VBP play ) ( PRT ( RP down ) ) ( NP ( NP ( DT the ) ( NN possibility ) ) ( PP ( IN of ) ( NP ( DT a ) ( NN labor ) ( NN shortage ) ) ) ) ) )

Hotel-casino operators play down the possibility of a labor shortage


( S ( PP ( IN After ) ( NP ( DT all ) ) ) ( NP-SBJ ( NP ( CD 40,000 ) ( NNS newcomers ) ) ( NP-ADV ( DT a ) ( NN year ) ) ) ( VP ( VBP are ) ( VP ( VBG settling ) ( PP-LOC-CLR ( IN in ) ( NP ( DT the ) ( NNP Las ) ( NNP Vegas ) ( NNP Valley ) ) ) ) ) )

After all 40,000 newcomers a year are settling in the Las Vegas Valley


( S ( CC But ) ( NP-SBJ ( NNP Nevada ) ( NN state ) ( NN labor ) ( NNS economists ) ) ( VP ( VBP think ) ( SBAR ( S ( NP-SBJ ( DT a ) ( NN shortage ) ) ( VP ( VBZ is ) ( ADJP-PRD ( JJ probable ) ) ) ) ) ) )

But Nevada state labor economists think a shortage is probable


( S ( NP-SBJ-1 ( NN Nobody ) ) ( ADVP ( RB yet ) ) ( VP ( VBZ seems ) ( S ( VP ( TO to ) ( VP ( VB have ) ( VP ( VBN calculated ) ( NP ( NP ( NP ( DT the ) ( JJ total ) ( NN number ) ) ( PP ( IN of ) ( NP ( NP ( NN slot ) ( NNS machines ) ) ( NP ( NN crap ) ( NNS tables ) ) ( CC or ) ( NP ( NN roulette ) ( NNS wheels ) ) ) ) ( SBAR ( S ( NP-SBJ ( NNP Las ) ( NNP Vegas ) ) ( VP ( MD will ) ( VP ( VB add ) ( PP-CLR ( TO to ) ( NP ( NP ( DT the ) ( JJ enormous ) ( NN store ) ) ( SBAR ( WHNP-3 ( IN that ) ) ( S ( NP-SBJ ( NNP Lady ) ( NNP Luck ) ) ( ADVP ( RB already ) ) ( VP ( VBZ guards ) ( ADVP-LOC ( RB here ) ) ) ) ) ) ) ) ) ) ) ) ( PRN ( ADVP ( RB much ) ( JJR less ) ) ( NP ( NP ( DT the ) ( JJ ultimate ) ( NN impact ) ) ( PP ( IN of ) ( NP ( DT the ) ( NN growth ) ) ) ( PP ( IN on ) ( NP ( NP ( NNS schools ) ) ( CC and ) ( NP ( JJ municipal ) ( NNS services ) ) ) ) ) ) ) ) ) ) ) ) )

Nobody yet seems to have calculated the total number of slot machines crap tables or roulette wheels Las Vegas will add to the enormous store that Lady Luck already guards here much less the ultimate impact of the growth on schools and municipal services


( SINV ( S-TPC-1 ( NP-SBJ ( NN Traffic ) ) ( VP ( VBZ is ) ( ADVP ( RB certainly ) ) ( NP-PRD ( DT a ) ( NN concern ) ) ( SBAR-ADV ( IN as ) ( SINV ( VBZ is ) ( NP-SBJ ( NP ( NN pollution ) ) ( NP ( NN water ) ) ( CC and ) ( NP ( DT an ) ( JJ adequate ) ( NN labor ) ( NN market ) ) ) ) ) ) ) ( VP ( VBZ says ) ) ( NP-SBJ ( NP ( NNP Frank ) ( NNP Sain ) ) ( NP ( NP ( JJ executive ) ( NN director ) ) ( PP ( IN of ) ( NP ( DT the ) ( NNP Las ) ( NNP Vegas ) ( NNP Convention ) ( CC and ) ( NNPS Visitors ) ( NNP Bureau ) ) ) ) ) )

Traffic is certainly a concern as is pollution water and an adequate labor market says Frank Sain executive director of the Las Vegas Convention and Visitors Bureau


( S ( NP-SBJ-3 ( NN City ) ( NNS fathers ) ) ( VP ( VBP have ) ( VP ( VBN managed ) ( S ( VP ( TO to ) ( VP ( VB push ) ( PRT ( RP through ) ) ( NP ( NP ( NP ( NNS projects ) ) ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( VP ( VBP are ) ( ADJP-PRD ( JJ crucial ) ( PP ( IN for ) ( NP ( NN tourist ) ( NN growth ) ) ) ) ) ) ) ) ( PP ( JJ such ) ( IN as ) ( NP ( NP ( DT the ) ( NN expansion ) ) ( PP ( IN of ) ( NP ( NNP McCarran ) ( NNP International ) ( NNP Airport ) ) ) ( S-PRP ( VP ( TO to ) ( VP ( VB accommodate ) ( NP ( NP ( DT the ) ( CD 44 ) ( NN % ) ) ( PP ( IN of ) ( NP ( NNP Las ) ( NNP Vegas ) ( NNS tourists ) ) ) ( SBAR ( WHNP-2 ( WP who ) ) ( S ( VP ( VBP fly ) ( ADVP-DIR ( RB here ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

City fathers have managed to push through projects that are crucial for tourist growth such as the expansion of McCarran International Airport to accommodate the 44 % of Las Vegas tourists who fly here


( S ( NP-TMP ( DT This ) ( NN year ) ) ( PP-MNR ( IN by ) ( NP ( NP ( NP ( CD one ) ( NNS means ) ) ( PP ( IN of ) ( NP ( NN transport ) ) ) ) ( CC or ) ( NP ( DT another ) ) ) ) ( NP-SBJ ( QP ( RBR more ) ( IN than ) ( CD 18 ) ( CD million ) ) ( NNS people ) ) ( VP ( MD will ) ( VP ( VB visit ) ( NP ( DT the ) ( NN city ) ) ) ) )

This year by one means of transport or another more than 18 million people will visit the city


( S ( NP-SBJ ( DT The ) ( NN expansion ) ) ( VP ( MD will ) ( VP ( VB set ) ( PRT ( RP off ) ) ( NP ( NP ( DT a ) ( NN marketing ) ( NN war ) ) ( PP ( IN among ) ( NP ( DT the ) ( JJ big ) ( NNS hotel-casinos ) ) ) ) ) ) )

The expansion will set off a marketing war among the big hotel-casinos


( S ( NP-SBJ-4 ( NNP Las ) ( NNP Vegas ) ) ( VP ( VP ( VBZ promises ) ) ( PRN ( CC or ) ( VP ( VBZ threatens ) ) ) ( S-2 ( VP ( TO to ) ( VP ( VB become ) ( NP-PRD ( NP ( DT a ) ( JJ giant ) ( NN carnival ) ) ( PP ( IN with ) ( NP ( NP ( NNS rooms ) ) ( SBAR ( S ( VP ( TO to ) ( VP ( VB be ) ( VP ( VBN had ) ( PP-CLR ( IN for ) ( NP ( NP ( NP ( CD 45 ) ) ( NP-ADV ( DT a ) ( NN day ) ) ) ( CC or ) ( NP ( JJR less ) ) ) ) ( PP ( IN for ) ( NP ( NP ( NNS visitors ) ) ( ADJP ( JJ uninspired ) ( PP ( RB solely ) ( IN by ) ( NP ( VBG gambling ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Las Vegas promises or threatens to become a giant carnival with rooms to be had for 45 a day or less for visitors uninspired solely by gambling


( S ( PP-LOC ( IN Amid ) ( NP ( NP ( DT a ) ( NN riot ) ) ( PP ( IN of ) ( NP ( NP ( VBG jousting ) ( NNS knights ) ) ( NP ( NN circus ) ( NNS clowns ) ) ( NP ( JJ gold-leaf ) ( NNS centurions ) ) ( CC and ) ( NP ( NP ( NNS creatures ) ) ( PP ( IN of ) ( NP ( DT the ) ( JJ wild ) ) ) ) ) ) ) ) ( NP-SBJ ( JJR lesser ) ( NNS competitors ) ) ( VP ( MD will ) ( VP ( VB fall ) ) ) )

Amid a riot of jousting knights circus clowns gold-leaf centurions and creatures of the wild lesser competitors will fall


( S ( NP-SBJ-1 ( NNP Caesars ) ( NNP World ) ( NNP Inc. ) ) ( VP ( VBZ plans ) ( S ( VP ( TO to ) ( VP ( VB defend ) ( NP ( PRP$ its ) ( JJ august ) ( NN reputation ) ) ( PP-MNR ( IN by ) ( S-NOM ( VP ( VP ( VBG sinking ) ( NP ( QP ( CD 190 ) ( CD million ) ) ) ( PP-CLR ( IN into ) ( NP ( NP ( PRP$ its ) ( JJ opulent ) ( NNP Caesars ) ( NNP Palace ) ) ( ADVP-LOC ( JJ next ) ( NN door ) ( PP ( TO to ) ( NP ( DT the ) ( JJ new ) ( NNP Mirage ) ) ) ) ) ) ) ( CC and ) ( VP ( VBG adding ) ( NP ( NP ( DT a ) ( ADJP ( QP ( CD 100 ) ( CD million ) ) ) ( NN shopping ) ( NN area ) ) ( ADJP ( NN reminiscent ) ( PP ( IN of ) ( NP ( NNP Rodeo ) ( NNP Drive ) ) ) ) ) ) ) ) ) ) ) ) ) )

Caesars World Inc. plans to defend its august reputation by sinking 190 million into its opulent Caesars Palace next door to the new Mirage and adding a 100 million shopping area reminiscent of Rodeo Drive


( S ( NP-SBJ ( NP ( DT The ) ( NNP Palace ) ) ( PP ( IN with ) ( NP ( NP ( PRP$ its ) ( NN marble ) ( NNS fountains ) ( CC and ) ( NN toga ) ( NNS parties ) ) ( PP ( IN for ) ( NP ( JJ high ) ( NNS rollers ) ) ) ) ) ) ( VP ( VBZ is ) ( ADVP-TMP ( RB already ) ) ( ADJP-PRD ( JJ well-known ) ( PP ( IN for ) ( NP ( PRP$ its ) ( JJ Caesarean ) ( NN theme ) ) ) ) ) )

The Palace with its marble fountains and toga parties for high rollers is already well-known for its Caesarean theme


( S ( NP-SBJ-1 ( NP ( DT The ) ( NNP Flamingo ) ( NNP Hilton ) ) ( NP ( NNP Imperial ) ( NNP Palace ) ) ( NP ( NNP Frontier ) ) ( CC and ) ( NP ( NNS others ) ) ) ( VP ( VBP are ) ( VP ( VBG pouring ) ( NP ( NP ( NNS millions ) ) ( PP ( IN of ) ( NP ( NNS dollars ) ) ) ) ( PP-CLR ( IN into ) ( NP ( NP ( NNS facelifts ) ) ( NP ( JJ new ) ( NN room ) ( NNS towers ) ) ( CC and ) ( NP ( NN casino ) ( NN floor ) ( NN space ) ) ) ) ( S-PRP ( ADVP ( RB just ) ) ( VP ( TO to ) ( VP ( VB keep ) ( PRT ( IN up ) ) ) ) ) ) ) )

The Flamingo Hilton Imperial Palace Frontier and others are pouring millions of dollars into facelifts new room towers and casino floor space just to keep up


( SBARQ ( WHADVP-1 ( WRB Where ) ) ( SQ ( VBZ 's ) ( NP-SBJ ( NP ( DT this ) ( JJ huge ) ( NN amount ) ) ( PP ( IN of ) ( NP ( NN investment ) ( NN capital ) ) ) ) ( VP ( VBG coming ) ( PP-DIR ( IN from ) ) ) ) )

Where 's this huge amount of investment capital coming from


( S ( NP-SBJ-1 ( NP ( NNP Golden ) ( NNP Nugget ) ) ( NP ( NP ( NNP Drexel ) ( NNP Burnham ) ( NNP Lambert ) ( NNP Inc. ) ( POS 's ) ) ( JJ first ) ( NN casino ) ( NN client ) ) ) ( VP ( VBZ has ) ( VP ( VBN borrowed ) ( PP-CLR ( IN on ) ( NP ( NP ( QP ( RBR more ) ( IN than ) ( CD 600 ) ( CD million ) ) ) ( ADJP ( NN worth ) ( PP ( IN of ) ( NP ( NN mortgage ) ( NNS notes ) ) ) ) ( VP ( ADVP ( RB mostly ) ) ( VBN sold ) ( PP-DTV ( TO to ) ( NP ( JJ private ) ( NNS investors ) ) ) ( PP ( IN by ) ( NP-LGS ( NNP Drexel ) ) ) ) ) ) ( S-PRP ( VP ( TO to ) ( VP ( VB build ) ( NP ( DT the ) ( NNP Mirage ) ) ) ) ) ) ) )

Golden Nugget Drexel Burnham Lambert Inc. 's first casino client has borrowed on more than 600 million worth of mortgage notes mostly sold to private investors by Drexel to build the Mirage


( S ( NP-SBJ ( NP ( JJ Other ) ( NN casino ) ( NNS owners ) ) ( NP ( NP ( NNP Circus ) ( NNP Circus ) ) ( PP ( IN among ) ( NP ( PRP them ) ) ) ) ) ( VP ( VBP are ) ( VP ( VBG financing ) ( NP ( PRP$ their ) ( NN expansion ) ) ( PP-MNR ( IN with ) ( NP ( NP ( PRP$ their ) ( JJ own ) ( NN cash ) ) ( CC and ) ( NP ( NP ( VBG revolving ) ( NN credit ) ( NNS lines ) ) ( PP ( IN from ) ( NP ( NP ( JJ local ) ( NNS lenders ) ) ( PP ( JJ such ) ( IN as ) ( NP ( NP ( NNP First ) ( NNP Interstate ) ( NNP Bank ) ) ( PP ( IN of ) ( NP ( NNP Nevada ) ) ) ) ) ) ) ) ) ) ) ) )

Other casino owners Circus Circus among them are financing their expansion with their own cash and revolving credit lines from local lenders such as First Interstate Bank of Nevada


( SQ ( MD Will ) ( NP-SBJ ( DT the ) ( NNS investments ) ) ( VP ( VB pay ) ( PRT ( IN off ) ) ) )

Will the investments pay off


( S ( NP-SBJ ( NP ( DT The ) ( NN growth ) ) ( PP ( IN of ) ( NP ( NNP Las ) ( NNP Vegas ) ( NN tourism ) ) ) ( PP-TMP ( IN in ) ( NP ( JJ recent ) ( NNS years ) ) ) ) ( VP ( VBZ persuades ) ( NP ( NNS lenders ) ) ( SBAR ( IN that ) ( S ( NP-SBJ ( PRP they ) ) ( VP ( MD will ) ) ) ) ) )

The growth of Las Vegas tourism in recent years persuades lenders that they will


( S ( NP-SBJ ( NP ( NN Casino ) ( NNS revenues ) ) ( CC and ) ( NP ( NN hotel ) ( NN occupancy ) ( NNS rates ) ) ) ( VP ( VBP are ) ( ADJP-PRD ( JJ high ) ) ) )

Casino revenues and hotel occupancy rates are high


( S ( NP-TMP ( JJ Last ) ( NN year ) ) ( NP-SBJ ( DT the ) ( NNS tourists ) ) ( VP ( VBD left ) ( NP ( NP ( QP ( CD 3 ) ( CD billion ) ) ) ) ( PP-CLR ( IN with ) ( NP ( NP ( DT the ) ( NN area ) ( POS 's ) ) ( NNS casinos ) ) ) ( ADVP-1 ( ADVP ( NP ( QP ( RB nearly ) ( CD 10 ) ) ( NN % ) ) ( JJR more ) ) ( PP ( IN than ) ( PP-TMP ( IN in ) ( NP ( CD 1987 ) ) ) ) ) ) )

Last year the tourists left 3 billion with the area 's casinos nearly 10 % more than in 1987


( S ( NP-SBJ ( NP ( DT The ) ( NNS people ) ) ( PP ( IN with ) ( NP ( NP ( DT a ) ( NN stake ) ) ( PP ( IN in ) ( NP ( NP ( NNP Nevada ) ( POS 's ) ) ( VBG gambling ) ( NN industry ) ) ) ) ) ) ( VP ( VBP believe ) ( SBAR ( IN that ) ( S ( NP-SBJ ( PRP they ) ) ( VP ( VBP have ) ( ADVP ( RB barely ) ) ( VP ( VBN tapped ) ( NP ( DT the ) ( ADJP ( RB potentially ) ( JJ huge ) ) ( NN family ) ( NN trade ) ) ) ) ) ) ) )

The people with a stake in Nevada 's gambling industry believe that they have barely tapped the potentially huge family trade


( SINV ( S-TPC-1 ( SBAR-ADV ( IN If ) ( S ( NP-SBJ ( PRP you ) ) ( VP ( VBP build ) ( NP ( DT a ) ( JJR better ) ( NN mousetrap ) ) ) ) ) ( NP-SBJ ( PRP it ) ) ( VP ( MD will ) ( VP ( VB catch ) ( NP ( JJR more ) ( NNS mice ) ) ) ) ) ( VP ( VBZ says ) ) ( NP-SBJ ( NP ( NNP Fred ) ( NNP Benninger ) ) ( NP ( NP ( NN chairman ) ) ( PP ( IN of ) ( NP ( NNP MGM ) ( NNP Grand ) ) ) ) ) )

If you build a better mousetrap it will catch more mice says Fred Benninger chairman of MGM Grand


( S ( NP-SBJ-1 ( NP ( NNP Ellen ) ( NNP Cokely ) ) ( NP ( NP ( DT a ) ( NN tourist ) ) ( PP ( IN from ) ( NP ( NP ( NNP Alton ) ) ( NP ( NNP Ill. ) ) ) ) ) ) ( VP ( VBZ seems ) ( ADJP-PRD ( VBN inclined ) ( S ( VP ( TO to ) ( VP ( VB agree ) ) ) ) ) ) )

Ellen Cokely a tourist from Alton Ill. seems inclined to agree


( SINV ( S-TPC-1 ( NP-SBJ ( PRP I ) ) ( VP ( MD 'd ) ( VP ( VB love ) ( NP ( PRP it ) ) ( SBAR-ADV ( IN if ) ( S ( NP-SBJ ( PRP$ my ) ( NN daughter ) ) ( VP ( VBD had ) ( NP ( NP ( NN something ) ) ( ADJP ( RB else ) ) ( SBAR ( S ( VP ( TO to ) ( VP ( VB do ) ( ADVP-LOC ( RB here ) ) ) ) ) ) ) ) ) ) ) ) ) ( VP ( VBZ says ) ) ( NP-SBJ ( NP ( NNP Ms. ) ( NNP Cokely ) ) ( VP ( VBG watching ) ( NP ( NP ( JJ seven-year-old ) ( NNP Kristin ) ) ( PP-LOC ( IN on ) ( NP ( NP ( DT the ) ( NN water ) ( NN slide ) ) ( PP-LOC ( IN at ) ( NP ( NP ( DT the ) ( NNP Strip ) ( POS 's ) ) ( NNP Wet ) ( CC 'n' ) ( NNP Wild ) ( NN water ) ( NN park ) ) ) ) ) ) ) ) )

I 'd love it if my daughter had something else to do here says Ms. Cokely watching seven-year-old Kristin on the water slide at the Strip 's Wet 'n' Wild water park


( SINV ( S-TPC-1 ( ADVP-TMP ( NP ( CD Two ) ( NNS generations ) ) ( IN ago ) ) ( NP-SBJ ( NNP Dad ) ) ( VP ( VBD came ) ( PP-DIR ( TO to ) ( NP ( NNP Las ) ( NNP Vegas ) ) ) ( PP-MNR ( IN by ) ( NP ( PRP himself ) ) ) ( PP-PRP ( IN for ) ( NP ( DT a ) ( JJ little ) ( NN diversion ) ) ) ) ) ( VP ( VBZ says ) ) ( NP-SBJ ( NP ( NNP Van ) ( NNP Heffner ) ) ( NP ( NP ( JJ executive ) ( NN vice ) ( NN president ) ) ( PP ( IN of ) ( NP ( DT the ) ( NNP Nevada ) ( NNP Hotel ) ( CC and ) ( NNP Motel ) ( NNP Association ) ) ) ) ) )

Two generations ago Dad came to Las Vegas by himself for a little diversion says Van Heffner executive vice president of the Nevada Hotel and Motel Association


( S ( ADVP-TMP ( NP ( CD One ) ( NN generation ) ) ( IN ago ) ) ( NP-SBJ ( NN Mom ) ) ( VP ( VBD joined ) ( NP ( NNP Dad ) ) ) )

One generation ago Mom joined Dad


( S ( ADVP-TMP ( RB Now ) ) ( PP-TMP ( IN in ) ( NP ( DT the ) ( NNS '90s ) ) ) ( NP-SBJ ( PRP we ) ) ( VP ( VBP 're ) ( VP ( VBN headed ) ( PP-DIR ( IN toward ) ( NP ( DT a ) ( JJ total ) ( NN resort ) ( NN environment ) ) ) ) ) )

Now in the '90s we 're headed toward a total resort environment


( S ( ADVP-TMP ( NP ( RB Only ) ( DT a ) ( NN decade ) ( QP ( CC or ) ( RB so ) ) ) ( IN ago ) ) ( NP-SBJ ( NN casino ) ( NNS managers ) ) ( VP ( VBD balked ) ( PP-CLR ( IN at ) ( NP ( NP ( JJ in-room ) ( NN TV ) ( NNS sets ) ) ( CC and ) ( NP ( NP ( JJ other ) ( NNS fripperies ) ) ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( VP ( VBD distracted ) ( PP-CLR ( IN from ) ( NP ( VBG gambling ) ) ) ) ) ) ) ) ) ) )

Only a decade or so ago casino managers balked at in-room TV sets and other fripperies that distracted from gambling


( S ( S ( NP-SBJ ( NNS Casinos ) ) ( NP-TMP ( NN today ) ) ( VP ( VBP offer ) ( NP ( NP ( VBG bowling ) ( NNS alleys ) ) ( NP ( NN water ) ( NNS parks ) ) ( NP ( NN golf ) ( NNS courses ) ) ( NP ( NN tennis ) ( NNS courts ) ) ( NP ( JJ lush ) ( NN swimming ) ( NNS pools ) ) ( CC and ) ( NP ( JJ other ) ( NNS diversions ) ) ) ) ) ( CC and ) ( S ( NP-SBJ-1 ( RBR more ) ( JJ such ) ( NNS facilities ) ) ( VP ( VBP are ) ( VP ( VBG being ) ( VP ( VBN designed ) ) ) ) ) )

Casinos today offer bowling alleys water parks golf courses tennis courts lush swimming pools and other diversions and more such facilities are being designed


( S ( PP ( IN Despite ) ( NP ( NP ( DT the ) ( JJ new ) ( NN emphasis ) ) ( PP ( IN on ) ( NP ( DT the ) ( NN family ) ( NN trade ) ) ) ) ) ( ADVP ( RB however ) ) ( NP-SBJ-1 ( NP ( NNS tourists ) ) ( PP ( IN in ) ( NP ( NP ( NN search ) ) ( PP ( IN of ) ( NP ( NP ( JJR naughtier ) ( NN fun ) ) ( PP ( IN than ) ( NP ( VBG gambling ) ) ) ) ) ) ) ) ( VP ( VBP seem ) ( ADJP-PRD ( JJ certain ) ( S ( VP ( TO to ) ( VP ( VB find ) ( NP ( PRP it ) ) ) ) ) ) ( PP ( IN with ) ( S-NOM ( NP-SBJ ( NNP Las ) ( NNP Vegas ) ( JJ call ) ( NNS girls ) ) ( VP ( VBG remaining ) ( PP-LOC-CLR ( IN on ) ( NP ( DT the ) ( NN scene ) ) ) ) ) ) ) )

Despite the new emphasis on the family trade however tourists in search of naughtier fun than gambling seem certain to find it with Las Vegas call girls remaining on the scene


( S-1 ( NP-SBJ ( DT A ) ( JJ serious ) ( JJ economic ) ( NN downturn ) ) ( PRN ( S ( NP-SBJ ( NNS pessimists ) ) ( VP ( VBP observe ) ) ) ) ( VP ( MD could ) ( VP ( VB hurt ) ( NP ( DT the ) ( NNS expansionists ) ) ) ) )

A serious economic downturn pessimists observe could hurt the expansionists


( S ( PP-TMP ( IN For ) ( ADVP ( RB now ) ) ) ( ADVP ( RB however ) ) ( NP-SBJ-1 ( NP ( DT the ) ( NNS naysayers ) ( POS ' ) ) ( NNS voices ) ) ( VP ( VBP are ) ( VP ( VBN drowned ) ( PP ( IN by ) ( NP-LGS ( NP ( NP ( NP ( DT the ) ( NN roar ) ) ( PP ( IN of ) ( NP ( NN cement ) ( NNS mixers ) ) ) ) ( CC and ) ( NP ( NP ( DT the ) ( NN clanging ) ) ( PP ( IN of ) ( NP ( NN construction ) ( NNS cranes ) ) ) ) ) ( PP-LOC ( IN along ) ( NP ( DT the ) ( NNP Strip ) ) ) ) ) ) ) )

For now however the naysayers ' voices are drowned by the roar of cement mixers and the clanging of construction cranes along the Strip


( S ( S ( NP-SBJ ( DT This ) ) ( VP ( VBZ is ) ( NP-PRD ( NP ( DT no ) ( NN place ) ) ( PP ( IN for ) ( NP ( NNS pedestrians ) ) ) ) ) ) ( CC but ) ( S ( PP-TMP ( IN at ) ( NP ( CD 7:30 ) ) ) ( PP-TMP ( IN on ) ( NP ( DT a ) ( JJ recent ) ( NN morning ) ) ) ( SBAR-TMP ( WHADVP-1 ( WRB when ) ) ( S ( NP-SBJ ( NN construction ) ) ( VP ( VBD choked ) ( NP ( NP ( NN traffic ) ) ( PP-LOC ( IN at ) ( NP ( DT the ) ( JJ famous ) ( CD Four ) ( NNPS Corners ) ( NN intersection ) ) ) ) ( PP ( TO to ) ( NP ( CD one ) ( NN lane ) ) ) ) ) ) ( NP-SBJ ( DT a ) ( NN taxi ) ( NN passenger ) ) ( VP ( VBD found ) ( S ( NP-SBJ ( NP ( PRP it ) ) ) ( ADJP-PRD ( JJR faster ) ) ( S-2 ( VP ( TO to ) ( VP ( VP ( VB abandon ) ( NP ( DT the ) ( NN cab ) ) ) ( CC and ) ( VP ( NN walk ) ( PP-DIR ( TO to ) ( NP ( PRP$ her ) ( NN destination ) ) ) ) ) ) ) ) ) ) )

This is no place for pedestrians but at 7:30 on a recent morning when construction choked traffic at the famous Four Corners intersection to one lane a taxi passenger found it faster to abandon the cab and walk to her destination


( S ( NP-SBJ ( DT The ) ( JJ ferocious ) ( NN competition ) ) ( ADVP ( RB probably ) ) ( VP ( MD will ) ( VP ( VB drive ) ( NP ( DT some ) ( ADJP ( RB poorly ) ( VBN managed ) ) ( NNS properties ) ) ( PP-DIR ( IN into ) ( NP ( NP ( NN bankruptcy ) ) ( CC or ) ( NP ( JJ new ) ( NN ownership ) ) ) ) ) ) )

The ferocious competition probably will drive some poorly managed properties into bankruptcy or new ownership


( S ( NP-SBJ ( PRP It ) ) ( VP ( VBZ has ) ( VP ( VBN happened ) ( ADVP-TMP ( IN before ) ) ) ) )

It has happened before


( S ( NP-SBJ-2 ( NP ( DT The ) ( NNPS Dunes ) ) ( NP ( DT the ) ( NNP Aladdin ) ) ( CC and ) ( NP ( DT the ) ( NNP Riviera ) ) ) ( VP ( VBD were ) ( DT all ) ( VP ( VBN acquired ) ( PP ( IN by ) ( NP-LGS ( DT the ) ( JJ present ) ( NNS owners ) ) ) ( PP ( IN from ) ( NP ( NP ( NN bankruptcy ) ( NNS proceedings ) ) ( VP ( VBN spawned ) ( PP ( IN by ) ( NP-LGS ( DT the ) ( JJ last ) ( NN recession ) ) ) ( PP-TMP ( IN in ) ( NP ( DT the ) ( JJ early ) ( CD 1980s ) ) ) ) ) ) ) ) )

The Dunes the Aladdin and the Riviera were all acquired by the present owners from bankruptcy proceedings spawned by the last recession in the early 1980s


( S ( ADVP ( RB Yet ) ) ( NP-SBJ ( DT that ) ) ( VP ( VBZ has ) ( RB n't ) ( VP ( VBN discouraged ) ( NP ( NNS investors ) ) ) ) )

Yet that has n't discouraged investors


( S ( NP-SBJ ( DT Some ) ) ( VP ( VBP have ) ( VP ( VBN bought ) ( NP ( NP ( JJ big ) ( NNS chunks ) ) ( PP ( IN of ) ( NP ( NNP Strip ) ( NN property ) ) ) ) ( PP ( IN for ) ( SBAR-NOM ( WHNP-1 ( WP what ) ) ( S ( VP ( MD may ) ( VP ( VB turn ) ( PP-CLR ( IN into ) ( NP ( NP ( DT another ) ( NN wave ) ) ( PP ( IN of ) ( NP ( VBG building ) ) ) ) ) ) ) ) ) ) ) ) )

Some have bought big chunks of Strip property for what may turn into another wave of building


( S ( NP-SBJ-1 ( NNP Atlantic ) ( NNP City ) ( NN casino ) ( NN owner ) ( NNP Donald ) ( NNP Trump ) ) ( VP ( VBZ is ) ( VP ( VBG scouting ) ( NP ( DT the ) ( NNP Las ) ( NNP Vegas ) ( NN market ) ) ( PP-MNR ( IN with ) ( NP ( NP ( DT an ) ( NN eye ) ) ( PP ( IN toward ) ( S-NOM ( VP ( VBG building ) ( NP ( DT an ) ( ADJP ( RB appropriately ) ( JJ spectacular ) ) ( NN place ) ) ) ) ) ) ) ) ) )

Atlantic City casino owner Donald Trump is scouting the Las Vegas market with an eye toward building an appropriately spectacular place


( S ( SBAR-TMP ( RB Even ) ( IN before ) ( S ( NP-SBJ ( DT the ) ( JJ huge ) ( JJ new ) ( NNS projects ) ) ( VP ( VBD began ) ) ) ) ( NP-SBJ ( NP ( DT the ) ( NNP Strip ) ( POS 's ) ) ( JJ recent ) ( NN expansion ) ) ( VP ( VBD squeezed ) ( NP ( JJR smaller ) ( NNS competitors ) ) ) )

Even before the huge new projects began the Strip 's recent expansion squeezed smaller competitors


( S ( NP-SBJ-1 ( NP ( JJ Many ) ( JJ blue-collar ) ( NNS customers ) ) ( PP ( IN of ) ( NP ( NP ( NN downtown ) ( POS 's ) ) ( JJ no-frills ) ( VBG gambling ) ( NNS spots ) ) ) ) ( VP ( VBP have ) ( VP ( VBN been ) ( VP ( VBN lured ) ( PP-DIR ( PP ( TO to ) ( NP ( DT the ) ( NNP Strip ) ) ) ( CC or ) ( PP ( TO to ) ( NP ( NP ( NP ( NNP Laughlin ) ) ( NP ( NNP Nev. ) ) ) ( NP ( NP ( DT a ) ( NNP Colorado ) ( NNP River ) ( NN town ) ) ( VP ( NN catering ) ( PP-CLR ( TO to ) ( NP ( NP ( NNS snowbirds ) ) ( CC and ) ( NP ( DT the ) ( NN recreational-vehicle ) ( NN crowd ) ) ) ) ) ) ) ) ) ) ) ) )

Many blue-collar customers of downtown 's no-frills gambling spots have been lured to the Strip or to Laughlin Nev. a Colorado River town catering to snowbirds and the recreational-vehicle crowd


( S ( NP-SBJ ( NP ( NN Hotel ) ( NN expansion ) ) ( CC and ) ( NP ( NP ( DT an ) ( NN influx ) ) ( PP ( IN of ) ( NP ( JJ more-discriminating ) ( NNS tourists ) ) ) ) ) ( VP ( VBP have ) ( VP ( VBN hurt ) ( NP ( NNS motels ) ) ) ) )

Hotel expansion and an influx of more-discriminating tourists have hurt motels


( S ( PP-TMP ( IN Since ) ( NP ( CD 1979 ) ) ) ( NP-SBJ ( NP ( DT the ) ( NN number ) ) ( PP ( IN of ) ( NP ( NN motel ) ( NNS rooms ) ) ) ) ( VP ( VBZ has ) ( VP ( VBN fallen ) ( PP-EXT ( IN by ) ( NP ( CD 17,000 ) ) ) ) ) )

Since 1979 the number of motel rooms has fallen by 17,000


( S ( NP-SBJ ( JJ Many ) ( NNS people ) ) ( ADVP-LOC ( RB here ) ) ( VP ( VBP expect ) ( NP ( DT a ) ( JJ room-rate ) ( NN war ) ) ( SBAR-ADV ( IN as ) ( S ( NP-SBJ ( DT the ) ( JJ new ) ( NNS projects ) ) ( VP ( VBP open ) ) ) ) ) )

Many people here expect a room-rate war as the new projects open


( SINV ( S-TPC-2 ( S ( NP-SBJ-3 ( EX There ) ) ( VP ( VBZ 's ) ( ADVP ( RB probably ) ) ( VP ( VBG going ) ( S ( VP ( TO to ) ( VP ( VB be ) ( NP-PRD ( NP ( DT some ) ( NN pressure ) ) ( PP ( IN on ) ( NP ( NP ( NN occupancy ) ) ( CC and ) ( NP ( NN room ) ( NNS rates ) ) ) ) ) ( PP-TMP ( IN over ) ( NP ( DT the ) ( JJ next ) ( NN year ) ) ) ) ) ) ) ) ) ( CC but ) ( S ( PP-TMP ( IN after ) ( NP ( IN that ) ) ) ( NP-SBJ ( PRP you ) ) ( VP ( MD should ) ( VP ( VB see ) ( S ( NP-SBJ ( DT the ) ( NN market ) ) ( VP ( VB return ) ( PP-CLR ( TO to ) ( NP ( NP ( JJ 80%-plus ) ( NN occupancy ) ) ( CC and ) ( NP ( JJ regular ) ( NNS rates ) ) ) ) ) ) ) ) ) ) ( VP ( VBZ says ) ) ( NP-SBJ ( NP ( NNP Paul ) ( NNP Rubeli ) ) ( NP ( NP ( NN casino ) ( NN executive ) ) ( PP-LOC ( IN at ) ( NP ( NP ( NNP Ramada ) ( NNP Inc. ) ) ( SBAR ( WHNP-1 ( WDT which ) ) ( S ( VP ( VBZ runs ) ( NP ( DT the ) ( NNP Tropicana ) ) ) ) ) ) ) ) ) )

There 's probably going to be some pressure on occupancy and room rates over the next year but after that you should see the market return to 80%-plus occupancy and regular rates says Paul Rubeli casino executive at Ramada Inc. which runs the Tropicana


( S ( NP-SBJ ( NNS Skeptics ) ) ( VP ( VBP wonder ) ( SBAR ( IN whether ) ( S ( NP-SBJ-1 ( NP ( NNS mega-resorts ) ) ( PP ( JJ such ) ( IN as ) ( NP ( DT the ) ( NNP Mirage ) ) ) ) ( VP ( MD will ) ( VP ( VB be ) ( ADJP-PRD ( JJ able ) ( S ( VP ( TO to ) ( VP ( VB squeeze ) ( NP ( DT a ) ( NN profit ) ) ( PP-CLR ( IN from ) ( NP ( PRP$ their ) ( NN cash ) ( NN flow ) ) ) ) ) ) ) ) ) ) ) ) )

Skeptics wonder whether mega-resorts such as the Mirage will be able to squeeze a profit from their cash flow


( S ( NP-SBJ ( DT The ) ( NNP Mirage ) ) ( VP ( MD will ) ( VP ( VB cost ) ( NP ( NP ( QP ( IN at ) ( JJS least ) ( CD 1 ) ( CD million ) ) ) ( NP-ADV ( DT a ) ( NN day ) ) ) ( S-PRP-CLR ( VP ( TO to ) ( VP ( VB operate ) ) ) ) ) ) )

The Mirage will cost at least 1 million a day to operate


( S ( S ( NP-SBJ ( NNP Mr. ) ( NNP Wynn ) ) ( VP ( VBZ seems ) ( ADJP-PRD ( JJ confident ) ( SBAR ( IN that ) ( S ( NP-SBJ ( PRP it ) ) ( VP ( MD will ) ( VP ( VB produce ) ( NP ( DT a ) ( JJ healthy ) ( NN profit ) ) ) ) ) ) ) ) ) ( CC but ) ( S ( NP-SBJ ( DT some ) ( NNS securities ) ( NNS analysts ) ) ( VP ( VBP doubt ) ( NP ( PRP it ) ) ) ) )

Mr. Wynn seems confident that it will produce a healthy profit but some securities analysts doubt it


( S ( NP-SBJ ( NNS Competitors ) ( CC and ) ( NNS analysts ) ) ( VP ( VBP say ) ( SBAR ( IN that ) ( S ( PP ( IN among ) ( NP ( JJ large ) ( VBG existing ) ( NNS properties ) ) ) ( NP-SBJ-1 ( NP ( NP ( NNP Bally ) ( NNP Manufacturing ) ( NNP Corp. ) ( POS 's ) ) ( NNP Bally ) ( NNP Grand ) ( NN hotel-casino ) ) ) ( ADVP ( RB probably ) ) ( VP ( MD will ) ( VP ( VB be ) ( ADVP-MNR ( RBS hardest ) ) ( VP ( VBN hit ) ( PP ( IN among ) ( NP ( JJ major ) ( NNS properties ) ) ) ) ) ) ) ) ) )

Competitors and analysts say that among large existing properties Bally Manufacturing Corp. 's Bally Grand hotel-casino probably will be hardest hit among major properties


( S ( NP-SBJ-1 ( NNP Bally ) ( NNS officials ) ) ( VP ( VBP decline ) ( S ( VP ( TO to ) ( VP ( VB discuss ) ( NP ( DT the ) ( NN situation ) ) ) ) ) ) )

Bally officials decline to discuss the situation


( S ( NP-SBJ ( NNP Bally ) ) ( VP ( VBD bought ) ( NP ( DT the ) ( JJ former ) ( NNP MGM ) ( NNP Grand ) ( NN hotel-casino ) ) ( PP-CLR ( IN from ) ( NP ( NNP Kirk ) ( NNP Kerkorian ) ) ) ( ADVP-TMP ( NP ( CD four ) ( NNS years ) ) ( IN ago ) ) ) )

Bally bought the former MGM Grand hotel-casino from Kirk Kerkorian four years ago


( SINV ( ADVP-TMP ( RB Only ) ( RB now ) ) ( VBZ is ) ( NP-SBJ ( PRP it ) ) ( VP ( VBG undergoing ) ( NP ( DT a ) ( ADJP ( RB badly ) ( VBN needed ) ) ( NN facelift ) ) ) )

Only now is it undergoing a badly needed facelift


( S ( S ( NP-SBJ ( PRP$ Its ) ( NN parking ) ( NN lot ) ) ( VP ( VBZ is ) ( ADJP-PRD ( JJ inconvenient ) ) ) ) ( S ( NP-SBJ ( DT the ) ( NNP MGM ) ( NN lion's-head ) ( NN logo ) ) ( ADVP ( RB still ) ) ( VP ( VBZ appears ) ( PP-LOC ( IN in ) ( NP ( NNS places ) ) ) ) ) ( CC and ) ( S ( NP-SBJ ( NNS customers ) ) ( ADVP ( RB still ) ) ( VP ( VBP call ) ( S ( NP-SBJ ( PRP it ) ) ( NP-PRD ( NP ( DT the ) ( NNP Grand ) ) ( PP ( RB rather ) ( IN than ) ( NP ( DT the ) ( NNP Bally ) ( NNP Grand ) ) ) ) ) ) ) )

Its parking lot is inconvenient the MGM lion's-head logo still appears in places and customers still call it the Grand rather than the Bally Grand


( SINV ( S-TPC-3 ( S ( NP-SBJ ( PRP It ) ) ( VP ( VBZ has ) ( NP ( DT a ) ( JJ great ) ( NN location ) ) ) ) ( CC but ) ( S ( NP-SBJ-1 ( PRP they ) ) ( VP ( VBP 're ) ( VP ( VBG going ) ( S ( VP ( TO to ) ( VP ( VB have ) ( NP ( DT some ) ( JJ real ) ( NNS problems ) ) ( SBAR-TMP ( WHADVP-2 ( WRB when ) ) ( S ( NP-SBJ ( NP ( NN everyone ) ) ( PP-LOC ( IN around ) ( NP ( PRP them ) ) ) ) ( VP ( VBZ opens ) ) ) ) ) ) ) ) ) ) ) ( VP ( VBZ says ) ) ( NP-SBJ ( NP ( NNP Daniel ) ( NNP Lee ) ) ( NP ( DT a ) ( NNP Drexel ) ( NN analyst ) ) ) )

It has a great location but they 're going to have some real problems when everyone around them opens says Daniel Lee a Drexel analyst


( S ( NP-SBJ ( NP ( JJR Older ) ( NNS properties ) ) ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( ADVP ( RB still ) ) ( VP ( VBP have ) ( NP ( DT a ) ( CD 1950s ) ( NN image ) ) ) ) ) ) ( VP ( VBP are ) ( ADVP ( RB also ) ) ( ADJP-PRD ( JJ vulnerable ) ) ) )

Older properties that still have a 1950s image are also vulnerable


( SINV ( S-TPC-1 ( NP-SBJ-2 ( NP ( DT Any ) ( NN hotel-casino ) ) ( PP ( IN without ) ( NP ( DT a ) ( JJ strong ) ( NN identity ) ) ) ) ( VP ( MD will ) ( VP ( VB get ) ( VP ( VBN whacked ) ( PP ( IN by ) ( NP-LGS ( DT the ) ( JJ new ) ( NN competition ) ) ) ) ) ) ) ( VP ( VBZ says ) ) ( NP-SBJ ( NP ( NNP Glenn ) ( NNP Schaeffer ) ) ( NP ( NP ( JJ senior ) ( NN vice ) ( NN president ) ) ( PP ( IN of ) ( NP ( NNP Circus ) ( NNP Circus ) ) ) ) ) )

Any hotel-casino without a strong identity will get whacked by the new competition says Glenn Schaeffer senior vice president of Circus Circus


( S ( S-TPC-2 ( SBAR-ADV ( IN If ) ( S ( NP-SBJ ( PRP you ) ) ( VP ( VBP do ) ( RB n't ) ( VP ( VB know ) ( SBAR ( WHNP-1 ( WP what ) ) ( S ( NP-SBJ ( PRP you ) ) ( VP ( VBP are ) ) ) ) ) ) ) ) ( ADJP-SBJ ( JJR bigger ) ) ( VP ( MD wo ) ( RB n't ) ( VP ( VB make ) ( S ( NP-SBJ ( PRP you ) ) ( ADJP-PRD ( JJR better ) ) ) ) ) ) ( NP-SBJ ( PRP he ) ) ( VP ( VBZ says ) ) )

If you do n't know what you are bigger wo n't make you better he says


( S ( CC But ) ( NP-SBJ ( PRP it ) ) ( VP ( MD 'll ) ( ADVP ( RB sure ) ) ( VP ( VB make ) ( S ( NP-SBJ ( PRP you ) ) ( ADJP-PRD ( JJR poorer ) ) ) ) ) )

But it 'll sure make you poorer


( S ( NP-SBJ ( NP ( NNP Circus ) ( NNP Circus ) ( POS 's ) ) ( NN flagship ) ( NN casino ) ) ( VP ( VBZ has ) ( VP ( VBN become ) ( NP-PRD ( NP ( DT the ) ( NN envy ) ) ( PP ( IN of ) ( NP ( NNS competitors ) ) ) ) ( PP ( IN for ) ( NP ( PRP$ its ) ( NN ability ) ( S ( VP ( TO to ) ( VP ( VB vacuum ) ( NP ( NN cash ) ) ( PP-CLR ( IN from ) ( NP ( NP ( DT the ) ( NNS pockets ) ) ( PP ( IN of ) ( NP ( VBG vacationing ) ( NNS families ) ) ) ) ) ) ) ) ) ) ) ) )

Circus Circus 's flagship casino has become the envy of competitors for its ability to vacuum cash from the pockets of vacationing families


( S ( NP-SBJ ( DT The ) ( NNP Circus ) ( NNP Circus ) ) ( VP ( VBZ lures ) ( NP ( PRP them ) ) ( PP-MNR ( IN with ) ( NP ( NP ( JJ low ) ( NN room ) ( NNS rates ) ) ( NP ( JJ inexpensive ) ( NNS buffets ) ) ( CC and ) ( NP ( NP ( NN entertainment ) ) ( PP ( IN for ) ( NP ( NNS children ) ) ) ( PP ( IN at ) ( NP ( DT no ) ( JJ extra ) ( NN charge ) ) ) ) ) ) ) )

The Circus Circus lures them with low room rates inexpensive buffets and entertainment for children at no extra charge


( S ( NP-SBJ ( NP ( DT The ) ( NN company ) ( POS 's ) ) ( NNP Excalibur ) ) ( VP ( MD will ) ( ADVP ( RB also ) ) ( VP ( VB appeal ) ( PP-CLR ( TO to ) ( NP ( NNS families ) ) ) ( PP ( IN of ) ( NP ( NN course ) ) ) ) ) )

The company 's Excalibur will also appeal to families of course


( S-1 ( NP-SBJ ( PRP$ Its ) ( NN castle ) ) ( PRN ( S ( NP-SBJ ( NNP Mr. ) ( NNP Schaeffer ) ) ( VP ( VBZ says ) ) ) ) ( VP ( MD will ) ( VP ( VB be ) ( NP-PRD ( NP ( DT the ) ( ADJP ( RBS most ) ( JJ compelling ) ) ( NN piece ) ) ( PP ( IN of ) ( NP ( NN folk ) ( NN architecture ) ) ) ( VP ( ADVP-TMP ( RB ever ) ) ( VBN built ) ) ) ) ) )

Its castle Mr. Schaeffer says will be the most compelling piece of folk architecture ever built


( S ( NP-SBJ ( DT Some ) ( NN casino ) ( NNS owners ) ) ( VP ( VBP have ) ( VP ( VBN resisted ) ( NP ( DT the ) ( NN temptation ) ( S ( VP ( TO to ) ( VP ( VB add ) ( NP ( NNS rooms ) ) ) ) ) ) ) ) )

Some casino owners have resisted the temptation to add rooms


( S ( ADVP ( RB Instead ) ) ( NP-SBJ-2 ( PRP they ) ) ( VP ( VBP are ) ( VP ( VBG spending ) ( S-PRP ( VP ( TO to ) ( VP ( VB reinforce ) ( NP ( NP ( DT the ) ( NN identity ) ) ( SBAR ( WHNP-1 ( IN that ) ) ( S ( NP-SBJ ( PRP they ) ) ( VP ( VBP believe ) ( SBAR ( S ( VP ( VBZ attracts ) ( NP ( PRP$ their ) ( NNS customers ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Instead they are spending to reinforce the identity that they believe attracts their customers


( SINV ( S-TPC-1 ( NP-SBJ ( JJR More ) ( NNS rooms ) ) ( VP ( VBP are ) ( RB n't ) ( NP-PRD ( NP ( DT the ) ( NN answer ) ) ( PP ( IN for ) ( NP ( PRP us ) ) ) ) ) ) ( VP ( VBZ says ) ) ( NP-SBJ ( NNP Caesars ) ( NNP World ) ( NN chairman ) ( NNP Henry ) ( NNP Gluck ) ) )

More rooms are n't the answer for us says Caesars World chairman Henry Gluck


( S ( SBAR-ADV ( IN While ) ( S ( NP-SBJ ( NP ( PRP$ his ) ( NN company ) ( POS 's ) ) ( NN hotel ) ) ( VP ( VBZ is ) ( VP ( VP ( VBG building ) ( NP ( DT a ) ( JJ retail ) ( NN complex ) ) ( PP-MNR ( IN in ) ( NP ( NNP Beverly ) ( NNP Hills ) ( NN style ) ) ) ) ( CC and ) ( VP ( VBG redoing ) ( NP ( VBG existing ) ( NNS rooms ) ) ) ) ) ) ) ( NP-SBJ ( PRP it ) ) ( VP ( VBZ has ) ( VP ( VBN decreased ) ( NP ( NP ( DT the ) ( NN number ) ) ( PP ( IN of ) ( NP ( PRP$ its ) ( NNS rooms ) ) ) ) ) ) )

While his company 's hotel is building a retail complex in Beverly Hills style and redoing existing rooms it has decreased the number of its rooms


( S ( NP-SBJ-1 ( DT Some ) ) ( VP ( VBP have ) ( VP ( VBN been ) ( VP ( VBN combined ) ( PP-CLR ( IN into ) ( NP ( NP ( NNS suites ) ) ( PP ( IN for ) ( NP ( DT the ) ( JJ high ) ( NNS rollers ) ) ) ) ) ) ) ) )

Some have been combined into suites for the high rollers


( S ( NP-SBJ ( NNP Caesars ) ) ( VP ( VBZ has ) ( VP ( VBN made ) ( NP ( NP ( DT a ) ( NN specialty ) ) ( PP ( IN of ) ( S-NOM ( VP ( NN catering ) ( PP-CLR ( TO to ) ( NP ( NP ( JJ high ) ( NNS rollers ) ) ( PP-LOC ( IN from ) ( ADVP ( RB abroad ) ) ) ( SBAR ( WHNP-1 ( WP who ) ) ( S ( VP ( VBP are ) ( ADVP ( RB also ) ) ( VP ( VBG being ) ( VP ( ADVP ( RB aggressively ) ) ( VBN courted ) ( PP ( IN by ) ( NP-LGS ( NP ( DT the ) ( NNP Mirage ) ) ( NP ( DT the ) ( NNP Las ) ( NNP Vegas ) ( NNP Hilton ) ) ( CC and ) ( NP ( NNS others ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Caesars has made a specialty of catering to high rollers from abroad who are also being aggressively courted by the Mirage the Las Vegas Hilton and others


( S ( NP-SBJ ( JJ Other ) ( JJR smaller ) ( NNS concerns ) ) ( VP ( VBP are ) ( ADVP ( RB also ) ) ( VP ( VBG pursuing ) ( NP ( NP ( NN market ) ( NNS niches ) ) ( PRN ( NP ( NP ( JJ Hawaiian ) ( NNS tourists ) ) ( PP ( IN for ) ( NP ( NN example ) ) ) ( CC or ) ( NP ( DT the ) ( JJ local ) ( NN trade ) ) ) ) ) ) ) )

Other smaller concerns are also pursuing market niches Hawaiian tourists for example or the local trade


( SINV ( S-TPC-1 ( NP-SBJ ( EX There ) ) ( VP ( VBZ 's ) ( ADVP ( RB still ) ) ( NP-PRD ( NP ( NN room ) ) ( PP ( IN for ) ( NP ( NN boutique ) ( NNS properties ) ) ) ) ) ) ( VP ( VBZ says ) ) ( NP-SBJ ( NP ( NNP James ) ( NNP Barrett ) ) ( NP ( NP ( NN president ) ) ( PP ( IN of ) ( NP ( NNP MarCor ) ( NNPS Resorts ) ( NNP Inc ) ) ) ) ) )

There 's still room for boutique properties says James Barrett president of MarCor Resorts Inc


( S ( PP-LOC ( IN Off ) ( NP ( DT the ) ( NNP Strip ) ) ) ( NP-SBJ ( NNP MarCor ) ) ( VP ( VBZ is ) ( VP ( VBG building ) ( NP ( NP ( DT the ) ( NNP Rio ) ) ( NP ( NP ( DT a ) ( NN hotel-casino ) ) ( PP ( IN with ) ( NP ( NP ( DT a ) ( JJ Brazilian ) ( NN theme ) ) ( CC and ) ( NP ( NP ( QP ( RB only ) ( CD 430 ) ) ( NNS rooms ) ) ( PRN ( S-ADV ( NP-SBJ ( NP ( DT all ) ) ( PP ( IN of ) ( NP ( PRP them ) ) ) ) ( NP-PRD ( NNS suites ) ) ) ) ) ) ) ) ) ) ) )

Off the Strip MarCor is building the Rio a hotel-casino with a Brazilian theme and only 430 rooms all of them suites


( S ( PP ( IN Despite ) ( NP ( NP ( DT the ) ( NN proliferation ) ) ( PP ( IN of ) ( NP ( NN tourist ) ( NNS distractions ) ) ) ) ) ( NP-SBJ ( NNP Las ) ( NNPS Vegans ) ) ( VP ( VBP have ) ( RB n't ) ( VP ( VBN forgot ) ( SBAR ( IN that ) ( S ( NP-SBJ ( NN gambling ) ) ( VP ( VBZ is ) ( ADVP ( RB still ) ) ( SBAR-PRD ( WHNP-1 ( WP what ) ) ( S ( NP-SBJ ( DT the ) ( NN town ) ) ( VP ( VBZ is ) ( PP-PRD ( DT all ) ( IN about ) ) ) ) ) ) ) ) ) ) )

Despite the proliferation of tourist distractions Las Vegans have n't forgot that gambling is still what the town is all about


( S ( S-TPC-1 ( NP-SBJ ( NP ( DT The ) ( NNS days ) ) ( SBAR ( WHADVP-2 ( WRB when ) ( WRB when ) ) ( S ( NP-SBJ ( NP ( DT the ) ( NN thrust ) ) ( PP ( IN of ) ( NP ( NNS casinos ) ) ) ) ( VP ( VBD was ) ( NP-PRD ( DT all ) ( JJ high ) ( NNS rollers ) ) ( PP ( IN with ) ( NP ( NP ( DT no ) ( NNS windows ) ( CC and ) ( NNS clocks ) ) ( CC and ) ( NP ( NP ( NNS lots ) ) ( PP ( IN of ) ( NP ( ADJP ( JJ red ) ( CC and ) ( JJ black ) ) ( NN decor ) ) ) ) ) ) ) ) ) ) ( VP ( VBP are ) ( VP ( VBN gone ) ) ) ) ( NP-SBJ ( NP ( NNP Mr. ) ( NNP Sain ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( NNS visitors ) ( POS ' ) ) ( NN bureau ) ) ) ) ( VP ( VBZ says ) ) )

The days when when the thrust of casinos was all high rollers with no windows and clocks and lots of red and black decor are gone Mr. Sain of the visitors ' bureau says


( S ( CC But ) ( NP-SBJ ( NP ( CD 93 ) ( NN % ) ) ( PP ( IN of ) ( NP ( NNS tourists ) ) ) ) ( ADVP ( RB still ) ) ( VP ( VBN come ) ( PP-CLR ( IN for ) ( NP ( NN gambling ) ) ) ) )

But 93 % of tourists still come for gambling


( S ( NP-SBJ ( PRP We ) ) ( VP ( MD ca ) ( RB n't ) ( VP ( VB lose ) ( NP ( NP ( NN sight ) ) ( PP ( IN of ) ( NP ( DT that ) ) ) ) ) ) )

We ca n't lose sight of that


( S ( NP-SBJ ( NP ( NP ( NNP Mercedes-Benz ) ) ( PP ( IN of ) ( NP ( NNP North ) ( NNP America ) ( NNP Inc. ) ) ) ) ( NP ( NP ( DT a ) ( NN unit ) ) ( PP ( IN of ) ( NP ( NNP Daimler-Benz ) ( NNP AG ) ) ) ) ) ( VP ( VBD paid ) ( NP ( NNP Massachusetts ) ) ( NP ( NP ( QP ( CD 9.1 ) ( CD million ) ) ) ( PP ( IN in ) ( NP ( NNS taxes ) ) ) ) ( S-ADV ( VP ( VBG bringing ) ( PP-CLR ( TO to ) ( NP ( DT an ) ( NN end ) ) ) ( NP ( DT a ) ( JJ 10-month-long ) ( JJ corporate ) ( NN tax ) ( NN chase ) ) ) ) ) )

Mercedes-Benz of North America Inc. a unit of Daimler-Benz AG paid Massachusetts 9.1 million in taxes bringing to an end a 10-month-long corporate tax chase


( S ( NP-SBJ-1 ( NP ( NNS Officials ) ) ( PP-LOC ( IN at ) ( NP ( NP ( DT the ) ( NNP Department ) ) ( PP ( IN of ) ( NP ( NNP Revenue ) ) ) ) ) ) ( VP ( VP ( VBD had ) ( VP ( VBN dogged ) ( NP ( DT the ) ( JJ foreign ) ( NN car ) ( NN maker ) ) ( PP-CLR ( IN for ) ( NP ( NP ( NNS taxes ) ) ( VP ( VBN owed ) ( PP-CLR ( IN on ) ( NP ( NN business ) ( NNS transactions ) ) ) ) ) ) ) ) ( CC and ) ( VP ( VBD were ) ( VP ( VBG proceeding ) ( S ( VP ( TO to ) ( VP ( VB settle ) ( NP ( DT the ) ( NN dispute ) ) ( PP-LOC ( IN in ) ( NP ( NN court ) ) ) ) ) ) ) ) ) )

Officials at the Department of Revenue had dogged the foreign car maker for taxes owed on business transactions and were proceeding to settle the dispute in court


( SINV ( S-TPC-1 ( CC But ) ( NP-SBJ ( DT the ) ( NN check ) ) ( VP ( VBD arrived ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( NN mail ) ) ) ) ) ( VP ( VBD said ) ) ( NP-SBJ ( NP ( NNP Stephen ) ( NNP Kidder ) ) ( NP ( NP ( NNP Massachusetts ) ( NNP Commissioner ) ) ( PP ( IN of ) ( NP ( NNP Revenue ) ) ) ) ) )

But the check arrived in the mail said Stephen Kidder Massachusetts Commissioner of Revenue


( S ( NP-SBJ ( NP ( NNP Mercedes-Benz ) ) ( SBAR ( WHNP-1 ( WDT which ) ) ( S ( VP ( VBD had ) ( VP ( VBN said ) ( SBAR ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBD did ) ( RB n't ) ( VP ( VB owe ) ( NP ( NNS taxes ) ) ( PP-CLR ( TO to ) ( NP ( NNP Massachusetts ) ) ) ( SBAR-PRP ( RB partly ) ( IN because ) ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBZ sells ) ( NP ( PRP$ its ) ( NNS cars ) ) ( PP-LOC ( PP ( IN at ) ( NP ( NP ( DT a ) ( NN dock ) ) ( PP-LOC ( IN in ) ( NP ( NNP Baltimore ) ) ) ) ) ( CC and ) ( PP ( RB not ) ( IN in ) ( NP ( NNP Massachusetts ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ( VP ( VBD did ) ( RB n't ) ( VP ( VB explain ) ( NP ( NP ( PRP$ its ) ( NN change ) ) ( PP ( IN of ) ( NP ( NN heart ) ) ) ) ) ) )

Mercedes-Benz which had said it did n't owe taxes to Massachusetts partly because it sells its cars at a dock in Baltimore and not in Massachusetts did n't explain its change of heart


( S ( S-TPC-1 ( NP-TMP ( JJ Last ) ( NN month ) ) ( NP-SBJ-2 ( NNP Mercedes-Benz ) ( NNS executives ) ) ( VP ( VBD approached ) ( NP ( NN state ) ( NN revenue ) ( NNS officials ) ) ( S-ADV ( VP ( VBG complaining ) ( PP-CLR ( IN about ) ( NP ( JJ bad ) ( NN press ) ) ) ) ) ) ) ( NP-SBJ ( DT the ) ( NN commissioner ) ) ( VP ( VBD said ) ) )

Last month Mercedes-Benz executives approached state revenue officials complaining about bad press the commissioner said


( S ( NP-SBJ ( DT The ) ( NN dispute ) ) ( VP ( VBD was ) ( NP-PRD ( NP ( DT the ) ( NN subject ) ) ( PP ( IN of ) ( NP ( NP ( DT a ) ( NNP Wall ) ( NNP Street ) ( NNP Journal ) ( NN article ) ) ( PP-TMP ( IN in ) ( NP ( NNP August ) ) ) ) ) ) ) )

The dispute was the subject of a Wall Street Journal article in August


( S ( NP-SBJ ( DT The ) ( NN amount ) ) ( VP ( VBZ covers ) ( NP ( NP ( NNS taxes ) ( NN interest ) ( CC and ) ( NNS penalties ) ) ( VP ( VBN owed ) ( PP-TMP ( PP ( IN from ) ( NP ( NP ( CD 1966 ) ) ( SBAR ( WHADVP-1 ( WRB when ) ) ( S ( NP-SBJ-2 ( DT the ) ( NN state ) ) ( VP ( VBD began ) ( S ( VP ( VBG collecting ) ( NP ( JJ corporate ) ( NNS taxes ) ) ) ) ) ) ) ) ) ( PP ( TO to ) ( NP ( CD 1985 ) ) ) ) ) ) ) )

The amount covers taxes interest and penalties owed from 1966 when the state began collecting corporate taxes to 1985


( S ( S-TPC-2 ( NP-SBJ-1 ( NNP Mercedes-Benz ) ) ( ADVP ( RB also ) ) ( VP ( VBD agreed ) ( S ( VP ( TO to ) ( VP ( VB pay ) ( NP ( NP ( NNS taxes ) ) ( VP ( VBN owed ) ( PP-CLR ( IN for ) ( NP ( DT the ) ( NNS years ) ( CD 1986 ) ( IN through ) ( CD 1988 ) ) ) ) ) ) ) ) ) ) ( NP-SBJ ( NNP Mr. ) ( NNP Kidder ) ) ( VP ( VBD added ) ) )

Mercedes-Benz also agreed to pay taxes owed for the years 1986 through 1988 Mr. Kidder added


( S ( PP-LOC ( IN Under ) ( NP ( NNP Massachusetts ) ( NN tax ) ( NNS laws ) ) ) ( NP-SBJ ( NNS corporations ) ) ( VP ( MD must ) ( VP ( VB pay ) ( NP ( NP ( CD 9.5 ) ( NN % ) ) ( PP ( IN of ) ( NP ( NP ( VBN estimated ) ( NNS profits ) ) ( VP ( VBG resulting ) ( PP-CLR ( IN from ) ( NP ( NP ( NN business ) ( NNS transactions ) ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( NN state ) ) ) ) ) ) ) ) ) ( SBAR-ADV ( IN if ) ( S ( NP-SBJ ( DT the ) ( NN company ) ) ( VP ( VBZ conducts ) ( NP ( NP ( DT a ) ( NN variety ) ) ( PP ( IN of ) ( NP ( NP ( JJ non-sales ) ( NNS activities ) ) ( PP ( VBG including ) ( NP ( NP ( NNS warranties ) ) ( NP ( NN customer ) ( NNS complaints ) ) ( CC and ) ( NP ( NP ( NNS relations ) ) ( PP ( IN with ) ( NP ( JJ independent ) ( NNS dealerships ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Under Massachusetts tax laws corporations must pay 9.5 % of estimated profits resulting from business transactions in the state if the company conducts a variety of non-sales activities including warranties customer complaints and relations with independent dealerships


( S-HLN ( NP-SBJ ( NN Office ) ( NN Market ) ) ( VP ( VBZ Weakens ) ( PP-LOC ( IN In ) ( NP ( JJ Overbuilt ) ( NN Northeast ) ) ) ) )

Office Market Weakens In Overbuilt Northeast


( S ( NP-SBJ ( DT THE ) ( NN NORTHEAST ) ( NN office ) ( NN market ) ) ( VP ( VBZ is ) ( VP ( VBG feeling ) ( NP ( NP ( JJ serious ) ( NNS aftereffects ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( JJ giddy ) ( NN overbuilding ) ) ( PP ( IN of ) ( NP ( DT the ) ( CD 1980s ) ) ) ) ) ) ) ) )

THE NORTHEAST office market is feeling serious aftereffects of the giddy overbuilding of the 1980s


( S ( NP-SBJ-1 ( NP ( NNS Foreclosures ) ) ( CC and ) ( NP ( NP ( JJ other ) ( NNS signs ) ) ( PP ( IN of ) ( NP ( JJ financial ) ( NN distress ) ) ) ) ) ( S-ADV ( ADVP-TMP ( RBS most ) ( RB often ) ) ( VP ( VBN associated ) ( PP-CLR ( IN with ) ( NP ( NP ( DT the ) ( JJ real ) ( NN estate ) ( NN market ) ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( NN Southwest ) ) ) ) ) ) ) ( VP ( VBP are ) ( VP ( VBG surfacing ) ( PP-LOC ( IN in ) ( NP ( NP ( DT the ) ( JJ suburban ) ( NN office ) ( NN market ) ) ( PP ( IN of ) ( NP ( DT the ) ( ADJP ( RB once ) ( JJ thriving ) ) ( NN Northeast ) ) ) ) ) ) ) )

Foreclosures and other signs of financial distress most often associated with the real estate market in the Southwest are surfacing in the suburban office market of the once thriving Northeast


( S ( NP-SBJ ( NP ( DT Some ) ( NNS projects ) ) ) ( VP ( VBP are ) ( ADVP-TMP ( RB now ) ) ( PP-PRD ( IN in ) ( NP ( NP ( DT the ) ( NNS hands ) ) ( PP ( IN of ) ( NP ( NNS lenders ) ) ) ) ) ( PP-1 ( VBG including ) ( NP ( NP ( DT a ) ( JJ 425,000-square-foot ) ( NN office ) ( NN facility ) ) ( PP-LOC ( IN in ) ( NP ( NP ( NNP Little ) ( NNP Falls ) ) ( NP ( NNP N.J ) ) ) ) ) ) ) )

Some projects are now in the hands of lenders including a 425,000-square-foot office facility in Little Falls N.J


( S ( NP-SBJ ( NP ( DT The ) ( NNS owners ) ) ( PP ( IN of ) ( NP ( NP ( DT a ) ( JJ 32-acre ) ( NN hotel ) ( CC and ) ( NN office ) ( NN complex ) ) ( PP-LOC ( IN in ) ( NP ( NP ( NP ( NNP King ) ) ( PP ( IN of ) ( NP ( NNP Prussia ) ) ) ) ( NP ( NNP Pa. ) ) ) ) ) ) ) ( VP ( VBP have ) ( VP ( VBN advertised ) ( PP-CLR ( IN for ) ( NP ( JJ new ) ( NN financing ) ) ) ) ) )

The owners of a 32-acre hotel and office complex in King of Prussia Pa. have advertised for new financing


( S ( NP-SBJ ( NP ( VBG Rising ) ( NN office ) ( NN vacancy ) ( NNS rates ) ) ( PP-LOC ( IN in ) ( NP ( NP ( NNP Fairfield ) ( NNP County ) ) ( NP ( NNP Conn. ) ) ) ) ) ( VP ( VBP have ) ( S ( NP-SBJ-1 ( NNS builders ) ( CC and ) ( NNS bankers ) ) ( VP ( VBG scrambling ) ( S-PRP-CLR ( VP ( TO to ) ( VP ( VB restructure ) ( NP ( NNS loans ) ) ) ) ) ) ) ) )

Rising office vacancy rates in Fairfield County Conn. have builders and bankers scrambling to restructure loans


( S ( CC And ) ( PP-LOC ( IN in ) ( NP ( JJ suburban ) ( NNP Boston ) ) ) ( NP-SBJ ( NNS developers ) ) ( VP ( VBP are ) ( VP ( VBG bracing ) ( PP-CLR ( IN for ) ( NP ( NP ( NNS cutbacks ) ) ( PP-LOC ( IN in ) ( NP ( NP ( DT the ) ( NN computer ) ( NN industry ) ) ( NP ( NP ( DT a ) ( JJ major ) ( NN user ) ) ( PP ( IN of ) ( NP ( NN office ) ( NN space ) ) ) ) ) ) ) ) ) ) )

And in suburban Boston developers are bracing for cutbacks in the computer industry a major user of office space


( SINV ( S-TPC-3 ( NP-SBJ-2 ( JJ Many ) ( VBN troubled ) ( NNS properties ) ) ( VP ( VP ( VBP have ) ( RB n't ) ( VP ( VBN been ) ( VP ( VBN foreclosed ) ( PP-CLR ( IN on ) ) ) ) ) ( CC and ) ( VP ( VBP are ) ( ADJP-PRD ( JJ hard ) ( SBAR ( S ( VP ( TO to ) ( VP ( VB identify ) ) ) ) ) ) ) ) ) ( VP ( VBZ says ) ) ( NP-SBJ ( NP ( NNP Albert ) ( NNP I. ) ( NNP Berger ) ) ( SBAR ( WHNP-1 ( WP who ) ) ( S ( VP ( VBZ heads ) ( NP ( NP ( DT the ) ( NAC-LOC ( NNP Secaucus ) ( NNP N.J. ) ) ( NN office ) ) ( PP ( IN of ) ( NP ( NP ( NNP Helmsley-Spear ) ( NNP Inc. ) ) ( NP ( DT a ) ( JJ real ) ( NN estate ) ( NN brokerage ) ) ) ) ) ) ) ) ) )

Many troubled properties have n't been foreclosed on and are hard to identify says Albert I. Berger who heads the Secaucus N.J. office of Helmsley-Spear Inc. a real estate brokerage


( S ( NP-SBJ ( NNS Owners ) ) ( VP ( VBP are ) ( ADVP-MNR ( ADVP ( RB voluntarily ) ) ( PRN ( CC and ) ( ADVP ( RB quietly ) ) ) ) ( VP ( VBG turning ) ( PRT ( RP over ) ) ( NP ( NNS properties ) ) ( PP-CLR ( TO to ) ( NP ( NNS lenders ) ) ) ( PP-MNR ( IN through ) ( NP ( NP ( NNS deeds ) ) ( PP ( IN in ) ( NP ( NP ( NN lieu ) ) ( PP ( IN of ) ( NP ( NN foreclosure ) ) ) ) ) ) ) ) ) )

Owners are voluntarily and quietly turning over properties to lenders through deeds in lieu of foreclosure


( S ( ADVP-TMP ( RB Often ) ) ( NP-SBJ ( NNS developers ) ) ( VP ( VBP stay ) ( PRT ( RP on ) ) ( PP-CLR ( IN as ) ( NP ( NN property ) ( NN manager ) ) ) ) )

Often developers stay on as property manager


( S ( NP-SBJ ( JJ Real ) ( NN estate ) ( NN analyst ) ( NNP Lloyd ) ( NNP Lynford ) ) ( VP ( VBZ says ) ( SBAR ( S ( NP-SBJ-1 ( NP ( DT the ) ( NN Northeast ) ( POS 's ) ) ( NN distress ) ) ( VP ( VBZ is ) ( VP ( VBN masked ) ( PP ( IN by ) ( NP-LGS ( RB relatively ) ( JJ low ) ( NN vacancy ) ( NNS rates ) ) ) ) ) ) ) ) )

Real estate analyst Lloyd Lynford says the Northeast 's distress is masked by relatively low vacancy rates


( S ( CC But ) ( PP-LOC ( IN in ) ( NP ( NP ( NN today ) ( POS 's ) ) ( NN overbuilt ) ( NN market ) ) ) ( NP-SBJ ( NNS tenants ) ) ( VP ( VP ( VBP have ) ( NP ( JJ many ) ( NNS choices ) ) ) ( CC and ) ( VP ( VBP are ) ( VP ( VBG negotiating ) ( NP ( NP ( JJ low ) ( NNS rents ) ) ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( VP ( VBP squeeze ) ( NP ( NN building ) ( NNS owners ) ) ) ) ) ) ) ) ) )

But in today 's overbuilt market tenants have many choices and are negotiating low rents that squeeze building owners


( S-1 ( PP ( IN On ) ( NP ( NN average ) ) ) ( PRN ( S ( NP-SBJ ( NNP Mr. ) ( NNP Lynford ) ) ( VP ( VBZ says ) ) ) ) ( NP-SBJ ( NP ( PRP it ) ) ) ( ADVP-TMP ( RB now ) ) ( VP ( VBZ takes ) ( NP ( QP ( CD three ) ( TO to ) ( CD 3 ) ( CD 1\/2 ) ) ( NNS years ) ) ( S-2 ( VP ( TO to ) ( VP ( VB fill ) ( NP ( JJ new ) ( NN office ) ( NN space ) ) ) ) ) ( PP ( VBN compared ) ( PP ( IN with ) ( NP ( NP ( QP ( CD 2 ) ( CD 1\/2 ) ) ( NNS years ) ) ( PP-TMP ( IN in ) ( NP ( CD 1988 ) ) ) ) ) ) ) )

On average Mr. Lynford says it now takes three to 3 1\/2 years to fill new office space compared with 2 1\/2 years in 1988


( S-HLN ( NP-SBJ ( NNP Beverly ) ( NNP Hills ) ) ( VP ( VBZ Comes ) ( PP-DIR ( TO To ) ( NP ( JJ Suburban ) ( NNP Tokyo ) ) ) ) )

Beverly Hills Comes To Suburban Tokyo


( SBARQ ( WHADVP-2 ( WRB WHY ) ) ( SQ ( MD SHOULD ) ( NP-SBJ-3 ( DT the ) ( NNP Japanese ) ) ( VP ( VB cross ) ( NP ( DT the ) ( NNP Pacific ) ) ( S-PRP ( VP ( TO to ) ( VP ( VB buy ) ( NP ( JJ American ) ( JJ real ) ( NN estate ) ) ) ) ) ( SBAR-TMP ( WHADVP-1 ( WRB when ) ) ( S ( NP-SBJ ( PRP they ) ) ( VP ( MD can ) ( ADVP-MNR ( RB simply ) ) ( VP ( VB recreate ) ( NP ( PRP it ) ) ( PP-LOC ( IN at ) ( NP ( NN home ) ) ) ) ) ) ) ) ) )

WHY SHOULD the Japanese cross the Pacific to buy American real estate when they can simply recreate it at home


( S ( NP-SBJ-1 ( NNP Tokyu ) ( NNP Development ) ( NNP Corp. ) ) ( VP ( VBZ is ) ( VP ( VBG spending ) ( NP ( QP ( CD 500 ) ( CD million ) ) ) ( S-PRP-CLR ( VP ( TO to ) ( VP ( VB build ) ( NP ( NP ( JJ American-style ) ( NN luxury ) ( NNS homes ) ) ) ( PP-LOC ( IN in ) ( NP ( JJ suburban ) ( NNP Tokyo ) ) ) ( PP-3 ( IN with ) ( NP ( ADJP ( RB rarely ) ( VBN seen ) ) ( NX ( NX ( NN back ) ( NNS yards ) ) ( NX ( JJ front ) ( NNS yards ) ) ( NX ( NN swimming ) ( NNS pools ) ) ( CC and ) ( NX ( NN tennis ) ( NNS courts ) ) ) ) ) ) ) ) ) ) )

Tokyu Development Corp. is spending 500 million to build American-style luxury homes in suburban Tokyo with rarely seen back yards front yards swimming pools and tennis courts


( S ( NP-SBJ ( DT The ) ( JJ Japanese ) ( NN company ) ) ( VP ( VBD hired ) ( NP-2 ( NP ( NNP Richardson ) ( NNP Nagy ) ( NNP Martin ) ) ( NP ( DT a ) ( NAC-LOC ( NNP Newport ) ( NNP Beach ) ( NNP Calif. ) ) ( JJ architectural ) ( NN firm ) ) ) ( S-CLR ( VP ( TO to ) ( VP ( VB design ) ( SBAR-NOM ( WHNP-1 ( WP what ) ) ( S ( NP-SBJ ( DT the ) ( JJ Japanese ) ( NN press ) ) ( VP ( VBZ has ) ( VP ( VBN dubbed ) ( S ( NP-PRD ( NP ( DT the ) ( NNP Beverly ) ( NNP Hills ) ) ( PP ( IN of ) ( NP ( NNP Tokyo ) ) ) ) ) ) ) ) ) ) ) ) ) )

The Japanese company hired Richardson Nagy Martin a Newport Beach Calif. architectural firm to design what the Japanese press has dubbed the Beverly Hills of Tokyo


( S ( PP ( RB Instead ) ( IN of ) ( NP ( NP ( NP ( NNP Japan ) ( POS 's ) ) ( JJ typical ) ( JJ small ) ( NNS homes ) ) ( VP ( VBN clustered ) ( PP-LOC ( IN on ) ( NP ( NP ( JJ narrow ) ( NNS streets ) ) ( PP ( IN with ) ( NP ( DT no ) ( NNS sidewalks ) ) ) ) ) ) ) ) ( NP-SBJ ( DT the ) ( JJ new ) ( CD One ) ( NNP Hundred ) ( NNPS Hills ) ( NN development ) ) ( VP ( MD will ) ( VP ( VB offer ) ( NP ( NP ( CD 65 ) ( NNS houses ) ) ( PP-LOC ( IN on ) ( NP ( JJ half-acre ) ( NNS lots ) ) ) ) ) ) )

Instead of Japan 's typical small homes clustered on narrow streets with no sidewalks the new One Hundred Hills development will offer 65 houses on half-acre lots


( S ( NP-SBJ ( DT That ) ) ( VP ( VBZ 's ) ( NP-PRD ( QP ( JJR more ) ( IN than ) ( CD 10 ) ( NNS times ) ) ( DT the ) ( JJ usual ) ( NN housing ) ( NN site ) ( NN size ) ) ) )

That 's more than 10 times the usual housing site size


( S ( NP-SBJ ( NP ( NNS Buyers ) ) ( PP ( IN with ) ( NP ( NP ( QP ( CD 6 ) ( CD million ) ) ) ( SBAR ( S ( VP ( TO to ) ( VP ( VB spend ) ) ) ) ) ) ) ) ( VP ( MD can ) ( VP ( VB select ) ( PP-CLR ( IN from ) ( NP ( NP ( CD 11 ) ( NNS designs ) ) ( PP ( VBG including ) ( NP ( NP ( DT a ) ( JJ Mediterranean-inspired ) ( NNP California ) ( NN style ) ) ( NP ( DT a ) ( JJ traditional ) ( NN Yankee ) ( NN look ) ) ( CC and ) ( NP ( NP ( NNS designs ) ) ( VP ( VBN inspired ) ( PP ( IN by ) ( NP-LGS ( NN Midwestern ) ( NN architect ) ( NNP Frank ) ( NNP Lloyd ) ( NNP Wright ) ) ) ) ) ) ) ) ) ) ) )

Buyers with 6 million to spend can select from 11 designs including a Mediterranean-inspired California style a traditional Yankee look and designs inspired by Midwestern architect Frank Lloyd Wright


( S ( NP-SBJ ( EX There ) ) ( VP ( VBP are ) ( S-PRD ( NP-SBJ ( NP ( JJ spacious ) ( NN living ) ( NNS rooms ) ( CC and ) ( NNS baths ) ) ( CC plus ) ( NP ( DT a ) ( NN master ) ( NNS grandparents ) ( NN suite ) ) ( CC and ) ( NP ( NP ( DT a ) ( NN foyer ) ) ( PP ( IN for ) ( S-NOM ( VP ( VBG removing ) ( NP ( NNS shoes ) ) ) ) ) ) ) ( VP ( TO to ) ( VP ( VB suit ) ( NP ( JJ Japanese ) ( NN life ) ( NNS styles ) ) ) ) ) ) )

There are spacious living rooms and baths plus a master grandparents suite and a foyer for removing shoes to suit Japanese life styles


( S ( S ( NP-SBJ-1 ( NNS Exteriors ) ) ( VP ( VBP are ) ( VP ( VBN faced ) ( PP-CLR ( IN with ) ( NP ( NN brick ) ( NN wood ) ( CC or ) ( NN stone ) ) ) ) ) ) ( CC but ) ( S ( NP-SBJ-2 ( DT the ) ( NNS homes ) ) ( VP ( VBP are ) ( VP ( VBN made ) ( PP-CLR ( IN of ) ( NP ( JJ steel-reinforced ) ( NN concrete ) ) ) ) ) ) )

Exteriors are faced with brick wood or stone but the homes are made of steel-reinforced concrete


( S-1 ( S ( NP-SBJ ( PRP We ) ) ( VP ( VBD were ) ( ADJP-PRD ( VBN disappointed ) ( SBAR ( S ( NP-SBJ ( PRP we ) ) ( VP ( MD could ) ( RB n't ) ( VP ( VB use ) ( NP ( NN wood ) ) ) ) ) ) ) ) ) ( PRN ( SINV ( VP ( VBZ says ) ) ( NP-SBJ ( NN architect ) ( NNP Walter ) ( NNP J. ) ( NNP Richardson ) ) ) ) ( CC but ) ( S ( NP-SBJ ( DT the ) ( NNP Japanese ) ) ( ADVP ( RB only ) ) ( VP ( VBP want ) ( NP ( JJR stronger ) ( NNS materials ) ) ) ) )

We were disappointed we could n't use wood says architect Walter J. Richardson but the Japanese only want stronger materials


( S-1 ( PP ( IN At ) ( NP ( NP ( CD 1,000 ) ) ( PP ( IN per ) ( NP ( JJ square ) ( NN foot ) ) ) ) ) ( NP-SBJ ( DT the ) ( NNP Japanese ) ) ( VP ( VBP want ) ( NP ( NP ( NP ( DT the ) ( NN feeling ) ) ( PP ( IN of ) ( NP ( NN indestructibility ) ) ) ) ( PRN ( S ( NP-SBJ ( PRP he ) ) ( VP ( VBZ explains ) ) ) ) ( CONJP ( RB not ) ( TO to ) ( VB mention ) ) ( NP ( NP ( NN protection ) ) ( PP ( IN from ) ( NP ( JJ possible ) ( NN earthquake ) ( NN damage ) ) ) ) ) ) )

At 1,000 per square foot the Japanese want the feeling of indestructibility he explains not to mention protection from possible earthquake damage


( S-HLN ( NP-SBJ ( NN Housing ) ( NNS Developers ) ) ( VP ( VBP Try ) ( NP ( NN Brand-Name ) ( NNS Buildings ) ) ) )

Housing Developers Try Brand-Name Buildings


( S ( NP-SBJ-1 ( NNP RESIDENTIAL ) ( NNS builders ) ) ( S-ADV ( VP ( VBN faced ) ( PP-CLR ( IN with ) ( NP ( DT a ) ( ADJP ( RBR more ) ( JJ competitive ) ) ( NN market ) ) ) ) ) ( VP ( VBP are ) ( VP ( VBG turning ) ( PP-CLR ( TO to ) ( NP ( DT a ) ( JJ traditional ) ( NN consumer ) ( NN marketing ) ( NN technique ) ) ) ( S-PRP ( VP ( TO to ) ( VP ( VB establish ) ( NP ( NN brand-name ) ( NN identity ) ) ) ) ) ) ) )

RESIDENTIAL builders faced with a more competitive market are turning to a traditional consumer marketing technique to establish brand-name identity


( SINV ( S-TPC-2 ( NP-SBJ ( NP ( CD One ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( NNS difficulties ) ) ( SBAR ( S ( NP-SBJ ( NP ( NNS people ) ) ( PP-LOC ( IN in ) ( NP ( JJ real ) ( NN estate ) ) ) ) ( VP ( VBP have ) ) ) ) ) ) ) ( VP ( VBZ is ) ( SBAR-PRD ( IN that ) ( S ( NP-SBJ ( DT each ) ( NN product ) ) ( VP ( VBZ is ) ( PP-PRD ( IN like ) ( S-NOM ( VP ( VP ( VBG starting ) ( NP ( DT a ) ( JJ new ) ( NN company ) ) ) ( CC or ) ( VP ( VBG starting ) ( NP ( NP ( DT a ) ( JJ new ) ( NN line ) ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( NN fashion ) ( NN business ) ) ) ) ) ) ) ) ) ) ) ) ) ( VP ( VBZ says ) ) ( NP-SBJ ( NP ( NNP L. ) ( NNP Robert ) ( NNP Lieb ) ) ( NP ( NP ( NN president ) ) ( PP ( IN of ) ( NP ( NP ( NNP Mountain ) ( NNP Development ) ( NNP Corp. ) ) ( PP-LOC ( IN in ) ( NP ( NP ( NNP West ) ( NNP Paterson ) ) ( NP ( NNP N.J ) ) ) ) ) ) ) ) )

One of the difficulties people in real estate have is that each product is like starting a new company or starting a new line in the fashion business says L. Robert Lieb president of Mountain Development Corp. in West Paterson N.J


( S ( IN So ) ( NP-SBJ ( PRP he ) ) ( VP ( VBZ 's ) ( VP ( VBG using ) ( NP ( NN river ) ) ( PP-LOC ( IN in ) ( NP ( JJ many ) ( NN project ) ( NNS names ) ) ) ) ) )

So he 's using river in many project names


( S-3 ( S ( NP-SBJ ( PRP It ) ) ( VP ( MD 'll ) ( ADVP-TMP ( RB never ) ) ( VP ( VB be ) ( PP-PRD ( IN like ) ( SBAR-NOM ( WHNP-1 ( WP what ) ) ( S ( NP-SBJ ( NNP Bristol-Myers ) ) ( VP ( VBZ does ) ) ) ) ) ) ) ) ( PRN ( S ( NP-SBJ ( PRP he ) ) ( VP ( VBZ adds ) ) ) ) ( CC but ) ( S ( NP-SBJ-2 ( PRP it ) ) ( VP ( VBZ helps ) ( S ( VP ( VB establish ) ( NP ( NN recognition ) ) ( PP ( PP ( IN with ) ( NP ( DT the ) ( NN public ) ) ) ( CC and ) ( PP ( IN with ) ( NP ( NNS banks ) ) ) ) ) ) ) ) )

It 'll never be like what Bristol-Myers does he adds but it helps establish recognition with the public and with banks


( S ( NP-SBJ ( NP ( NNP Weingarten-Siegel ) ( NNP Group ) ( NNP Inc. ) ) ( PP ( IN of ) ( NP ( NP ( NNP Manalapan ) ) ( NP ( NNP N.J. ) ) ) ) ) ( VP ( VBZ has ) ( VP ( VBN built ) ( NP ( NP ( NNP Cross ) ( NNP Creek ) ( NNP Pointe ) ) ( NP ( NNP Allegro ) ( NNP Pointe ) ) ( CC and ) ( NP ( NP ( JJ other ) ( NNP Pointes ) ) ( PP-LOC ( IN in ) ( NP ( NNP New ) ( NNP Jersey ) ) ) ) ) ) ) )

Weingarten-Siegel Group Inc. of Manalapan N.J. has built Cross Creek Pointe Allegro Pointe and other Pointes in New Jersey


( S ( NP-SBJ ( NP ( NNP Caspi ) ( NNP Development ) ( NNP Corp ) ) ( PP ( IN of ) ( NP ( NP ( NNP Armonk ) ) ( NP ( NNP N.Y. ) ) ) ) ) ( VP ( VP ( VBZ has ) ( VP ( VBN developed ) ( NP ( NP ( CD two ) ( NN apartment ) ( NNS buildings ) ) ( VP ( VBN called ) ( S ( ADJP-PRD ( JJ Classic ) ) ) ) ) ) ) ( CC and ) ( VP ( VBZ plans ) ( NP ( DT a ) ( JJ third ) ) ) ) )

Caspi Development Corp of Armonk N.Y. has developed two apartment buildings called Classic and plans a third


( S ( NP-SBJ ( NNP Developer ) ( NNP Steve ) ( NNP Caspi ) ) ( VP ( VBZ says ) ( SBAR ( S ( NP-SBJ ( DT the ) ( JJ same ) ( NN brand ) ( NN name ) ) ( VP ( VBZ indicates ) ( NP ( JJ consistent ) ( NN quality ) ) ( ADVP ( RB regardless ) ( PP ( IN of ) ( NP ( NN location ) ( NN design ) ( CC or ) ( NNS amenities ) ) ) ) ) ) ) ) )

Developer Steve Caspi says the same brand name indicates consistent quality regardless of location design or amenities


( S ( NP-SBJ ( NP ( DT The ) ( NN leader ) ) ( PP-LOC ( IN in ) ( NP ( JJ real ) ( NN estate ) ( NN brand ) ( NNS names ) ) ) ) ( VP ( VBZ is ) ( NP-PRD ( NN developer ) ( NNP Ara ) ( NNP Hovnanian ) ) ) )

The leader in real estate brand names is developer Ara Hovnanian


( S ( NP-SBJ-1 ( PRP$ His ) ( JJ entry-price ) ( NNS condos ) ) ( VP ( VBP are ) ( VP ( VBN labeled ) ( S ( NP-PRD ( NNP Society ) ( NNP Hill ) ) ) ) ) )

His entry-price condos are labeled Society Hill


( S ( S ( NP-SBJ-1 ( NNP Beacon ) ( NNP Hill ) ) ( VP ( VBZ is ) ( PP-PRD-2 ( IN for ) ( NP ( JJ move-up ) ( NN town ) ( NNS houses ) ) ) ) ) ( CC and ) ( S ( NP-SBJ=1 ( NNP Nob ) ( NNP Hill ) ) ( PP-PRD=2 ( IN for ) ( NP ( NN single-family ) ( NNS houses ) ) ) ) )

Beacon Hill is for move-up town houses and Nob Hill for single-family houses


( S-1 ( PP-PRP ( IN Because ) ( IN of ) ( NP ( JJ standardized ) ( NNS designs ) ) ) ( PRN ( S ( NP-SBJ ( NNP Mr. ) ( NNP Hovnanian ) ) ( VP ( VBZ says ) ) ) ) ( NP-SBJ ( DT a ) ( NN buyer ) ) ( VP ( MD can ) ( VP ( VB visualize ) ( NP ( NNP Society ) ( NNP Hill ) ) ( ADVP ( RB regardless ) ( PP ( IN of ) ( SBAR ( WHADVP-2 ( WRB where ) ) ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBZ is ) ) ) ) ) ) ) ) )

Because of standardized designs Mr. Hovnanian says a buyer can visualize Society Hill regardless of where it is


( FRAG-HLN ( NP-SBJ-1 ( NN Quake ) ) ( ADJP-PRD ( RB Not ) ( RB Likely ) ( S ( VP ( TO to ) ( VP ( VB Jolt ) ( NP ( DT The ) ( NN Commercial ) ( NN Market ) ) ) ) ) ) )

Quake Not Likely to Jolt The Commercial Market


( S ( NP-SBJ ( NP ( DT THE ) ( NN EARTHQUAKE ) ) ( PP-LOC ( IN in ) ( NP ( NNP San ) ( NNP Francisco ) ) ) ) ( VP ( VBZ has ) ( VP ( VBN sent ) ( NP ( JJ few ) ( NNS tremors ) ) ( PP-DIR ( IN through ) ( NP ( NP ( DT the ) ( NNS hearts ) ) ( PP ( IN of ) ( NP ( JJ real ) ( NN estate ) ( NNS investors ) ) ) ) ) ) ) )

THE EARTHQUAKE in San Francisco has sent few tremors through the hearts of real estate investors


( SINV ( S-TPC-1 ( S ( NP-SBJ ( PRP I ) ) ( VP ( VBP think ) ( SBAR ( S ( NP-SBJ ( EX there ) ) ( VP ( VBZ 's ) ( NP-PRD ( NP ( DT a ) ( NN disease ) ) ( VP ( VBN called ) ( S ( NP-PRD ( NP ( NN buyer ) ( POS 's ) ) ( NN regret ) ) ) ) ) ) ) ) ) ) ( CC and ) ( S ( NP-SBJ ( PRP I ) ) ( VP ( VBP 'm ) ( ADJP-PRD ( JJ sure ) ( SBAR ( S ( NP-SBJ-2 ( PRP it ) ) ( VP ( VBZ 's ) ( VP ( VBG running ) ( S-CLR ( ADJP-PRD ( JJ rampant ) ) ) ( PP-TMP ( IN at ) ( NP ( DT this ) ( NN moment ) ) ) ) ) ) ) ) ) ) ( CC but ) ( S ( NP-SBJ-3 ( PRP it ) ) ( VP ( VBZ gets ) ( VP ( VBN cured ) ( PP-TMP ( IN in ) ( NP ( NP ( DT a ) ( JJ short ) ( NN period ) ) ( PP ( IN of ) ( NP ( NN time ) ) ) ) ) ) ) ) ) ( VP ( VBZ says ) ) ( NP-SBJ ( NP ( NNP Kenneth ) ( NNP Leventhal ) ) ( NP ( NP ( JJ co-managing ) ( NN partner ) ) ( PP ( IN of ) ( NP ( NP ( NNP Kenneth ) ( NNP Leventhal ) ( CC & ) ( NNP Co. ) ) ( NP ( NP ( DT a ) ( NNP Los ) ( NNP Angeles ) ( NN accounting ) ( NN firm ) ) ( VP ( VBG specializing ) ( PP-CLR ( IN in ) ( NP ( JJ real ) ( NN estate ) ) ) ) ) ) ) ) ) )

I think there 's a disease called buyer 's regret and I 'm sure it 's running rampant at this moment but it gets cured in a short period of time says Kenneth Leventhal co-managing partner of Kenneth Leventhal & Co. a Los Angeles accounting firm specializing in real estate


( S ( SBAR-ADV ( IN If ) ( S ( NP-SBJ ( PRP I ) ) ( VP ( VBD were ) ( VP ( VBG buying ) ( NP ( NP ( DT a ) ( NN building ) ) ( PP-LOC ( IN in ) ( NP ( NNP San ) ( NNP Francisco ) ) ) ) ( ADVP-TMP ( RB now ) ) ) ) ) ) ( S ( NP-SBJ ( NP ( DT the ) ( JJ first ) ( NN thing ) ) ( SBAR ( S ( NP-SBJ ( PRP I ) ) ( VP ( MD 'd ) ( VP ( VB do ) ) ) ) ) ) ( VP ( VBZ is ) ( VP ( VB insist ) ( PP-CLR ( IN on ) ( NP ( DT a ) ( JJ structural ) ( NN inspection ) ) ) ) ) ) ( S ( ADVP-TMP ( RB then ) ) ( NP-SBJ ( PRP I ) ) ( VP ( MD 'd ) ( VP ( VP ( VB delay ) ( NP-ADV ( DT a ) ( JJ little ) ) ) ( VP ( VB stall ) ( NP-ADV ( DT a ) ( JJ little ) ) ) ) ) ) )

If I were buying a building in San Francisco now the first thing I 'd do is insist on a structural inspection then I 'd delay a little stall a little


( S ( CC But ) ( PP ( IN like ) ( NP ( NP ( JJ other ) ( JJ real ) ( NN estate ) ( NNS professionals ) ) ( VP ( VBN accustomed ) ( PP-CLR ( TO to ) ( NP ( NP ( NNP California ) ( POS 's ) ) ( NN quake ) ( NNS risks ) ) ) ) ) ) ( NP-SBJ ( NNP Mr. ) ( NNP Leventhal ) ) ( VP ( VBZ anticipates ) ( NP ( NP ( RB little ) ( JJ long-term ) ( NN change ) ) ( PP-LOC ( IN in ) ( NP ( NP ( DT the ) ( NN city ) ( POS 's ) ) ( JJ commercial ) ( JJ real ) ( NN estate ) ( NN market ) ) ) ) ) )

But like other real estate professionals accustomed to California 's quake risks Mr. Leventhal anticipates little long-term change in the city 's commercial real estate market


( S ( ADVP ( RB Still ) ) ( NP-SBJ-1 ( JJ local ) ( NNS builders ) ) ( VP ( VBP are ) ( ADJP-PRD ( JJ eager ) ( S ( VP ( TO to ) ( VP ( VB tell ) ( NP ( DT the ) ( NN world ) ) ( SBAR ( IN that ) ( S ( NP-SBJ ( NP ( JJS most ) ) ( PP ( IN of ) ( NP ( NNP San ) ( NNP Francisco ) ) ) ) ( VP ( VBZ does ) ( RB n't ) ( VP ( VB look ) ( PP-CLR ( IN like ) ( NP ( NP ( DT the ) ( NN TV ) ( NNS images ) ) ( PP ( IN of ) ( NP ( NN destruction ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Still local builders are eager to tell the world that most of San Francisco does n't look like the TV images of destruction


( S ( NP-SBJ ( NP ( NNS Planners ) ) ( PP ( IN of ) ( NP ( DT the ) ( NNP Urban ) ( NNP Land ) ( NNP Institute ) ( JJ real ) ( NN estate ) ( NN conference ) ) ) ) ( NP-TMP ( DT this ) ( NN week ) ) ( VP ( ADVP-MNR ( RB hastily ) ) ( VBD added ) ( NP ( NP ( DT a ) ( NN panel ) ) ( PP ( IN on ) ( NP ( NP ( DT the ) ( NN quake ) ( POS 's ) ) ( NNS effects ) ) ) ) ) )

Planners of the Urban Land Institute real estate conference this week hastily added a panel on the quake 's effects