( S ( S ( NP-SBJ ( DT Some ) ( JJ lousy ) ( NNS earnings ) ( NNS reports ) ) ( VP ( VBD whacked ) ( NP ( DT the ) ( NN stock ) ( NN market ) ) ) ) ( CC but ) ( S ( NP-SBJ ( NN bond ) ( NNS prices ) ) ( VP ( VBD fell ) ( ADVP-EXT ( RB only ) ( RB slightly ) ) ) ) ( CC and ) ( S ( NP-SBJ ( DT the ) ( NN dollar ) ) ( VP ( VBD rose ) ( NP-EXT ( DT a ) ( JJ little ) ) ( PP ( IN against ) ( NP ( JJS most ) ( JJ major ) ( NNS currencies ) ) ) ) ) )

Some lousy earnings reports whacked the stock market but bond prices fell only slightly and the dollar rose a little against most major currencies


( S ( NP-SBJ ( DT The ) ( NNP Dow ) ( NNP Jones ) ( NNP Industrial ) ( NNP Average ) ) ( VP ( VBD tumbled ) ( NP-EXT ( CD 39.55 ) ( NNS points ) ) ( PP-DIR ( TO to ) ( NP ( CD 2613.73 ) ) ) ( PP-LOC ( IN in ) ( NP ( JJ active ) ( NN trading ) ) ) ) )

The Dow Jones Industrial Average tumbled 39.55 points to 2613.73 in active trading


( S ( NP-SBJ ( JJ Long-term ) ( NNP Treasury ) ( NNS bonds ) ) ( VP ( VBD ended ) ( ADVP-CLR ( RB slightly ) ( JJR higher ) ) ) )

Long-term Treasury bonds ended slightly higher


( S ( NP-SBJ ( DT The ) ( NN dollar ) ) ( VP ( VP ( VBD rose ) ( ADVP-EXT ( RB modestly ) ) ( PP ( IN against ) ( NP ( NP ( DT the ) ( NN mark ) ) ( CC and ) ( NP ( DT the ) ( NN yen ) ) ) ) ) ( CC but ) ( VP ( VBD soared ) ( PP ( IN against ) ( NP ( DT the ) ( NN pound ) ) ) ( PP-TMP ( VBG following ) ( NP ( NP ( DT the ) ( NN resignation ) ) ( PP ( IN of ) ( NP ( NP ( NP ( NP ( NNP Britain ) ( POS 's ) ) ( NN chancellor ) ) ( PP ( IN of ) ( NP ( DT the ) ( NNP Exchequer ) ) ) ) ( NP ( NNP Nigel ) ( NNP Lawson ) ) ) ) ) ) ) ) )

The dollar rose modestly against the mark and the yen but soared against the pound following the resignation of Britain 's chancellor of the Exchequer Nigel Lawson


( S ( S ( NP-SBJ ( NNS Analysts ) ) ( VP ( VBP have ) ( VP ( VBN complained ) ( SBAR ( IN that ) ( S ( NP-SBJ ( JJ third-quarter ) ( JJ corporate ) ( NNS earnings ) ) ( VP ( VBP have ) ( RB n't ) ( VP ( VBN been ) ( ADJP-PRD ( RB very ) ( JJ good ) ) ) ) ) ) ) ) ) ( CC but ) ( S ( NP-SBJ ( DT the ) ( NN effect ) ) ( VP ( VBD hit ) ( ADVP-CLR ( RB home ) ) ( ADVP-MNR ( RB particularly ) ( RB hard ) ) ( NP-TMP ( NN yesterday ) ) ) ) )

Analysts have complained that third-quarter corporate earnings have n't been very good but the effect hit home particularly hard yesterday


( S ( NP-SBJ-1 ( NNP Compaq ) ( NNP Computer ) ) ( VP ( VP ( VBD nose-dived ) ( NP-EXT ( NP ( CD 8.625 ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ( PP-DIR ( TO to ) ( NP ( CD 100 ) ) ) ) ( CC and ) ( VP ( VBD pulled ) ( NP ( JJ other ) ( NN technology ) ( NNS issues ) ) ( ADVP-DIR ( RBR lower ) ) ) ( PP-TMP ( IN after ) ( S-NOM ( VP ( VBG reporting ) ( NP ( JJ lower-than-expected ) ( NNS earnings ) ) ( SBAR-TMP ( IN after ) ( S ( NP-SBJ ( DT the ) ( NN stock ) ( NN market ) ) ( VP ( VBD closed ) ( NP-TMP ( NNP Wednesday ) ) ) ) ) ) ) ) ) )

Compaq Computer nose-dived 8.625 a share to 100 and pulled other technology issues lower after reporting lower-than-expected earnings after the stock market closed Wednesday


( S ( NP-TMP ( RB Later ) ( NN yesterday ) ) ( NP-SBJ ( NP ( DT the ) ( NN nation ) ( POS 's ) ) ( JJ major ) ( NN auto ) ( NNS makers ) ) ( VP ( VBD added ) ( PP-CLR ( TO to ) ( NP ( DT the ) ( NN gloom ) ) ) ( SBAR-TMP ( WHADVP ( WRB when ) ) ( S ( NP-SBJ ( NP ( PRP they ) ) ( NP ( DT each ) ) ) ( VP ( VBD reported ) ( SBAR ( S ( NP-SBJ ( PRP$ their ) ( JJ core ) ( NN auto ) ( NNS operations ) ) ( VP ( VBD were ) ( NP-PRD ( JJ net ) ( NNS losers ) ) ( PP-TMP ( IN in ) ( NP ( DT the ) ( JJ third ) ( NN quarter ) ) ) ) ) ) ) ) ) ) )

Later yesterday the nation 's major auto makers added to the gloom when they each reported their core auto operations were net losers in the third quarter


( S ( NP-SBJ ( DT The ) ( JJ less-than-robust ) ( JJ third-quarter ) ( NNS results ) ) ( VP ( VBD came ) ( PP-LOC ( IN amid ) ( NP ( NP ( JJ renewed ) ( NN concern ) ) ( PP ( IN about ) ( NP ( NP ( NP ( DT the ) ( NN volatility ) ) ( PP ( IN of ) ( NP ( NN stock ) ( NNS prices ) ) ) ) ( CC and ) ( NP ( NP ( DT the ) ( NN role ) ) ( PP ( IN of ) ( NP ( JJ computer-aided ) ( NN program ) ( NN trading ) ) ) ) ) ) ) ) ) )

The less-than-robust third-quarter results came amid renewed concern about the volatility of stock prices and the role of computer-aided program trading


( S ( S-ADV ( VP ( VBN Taken ) ( ADVP-MNR ( RB together ) ) ) ) ( NP-SBJ-1 ( DT the ) ( NNS worries ) ) ( VP ( VBD prompted ) ( NP ( NP ( DT a ) ( JJ broad ) ( NN sell-off ) ) ( PP ( IN of ) ( NP ( NNS stocks ) ) ) ) ) )

Taken together the worries prompted a broad sell-off of stocks


( S ( NP-SBJ ( NP ( DT The ) ( NN number ) ) ( PP ( IN of ) ( NP ( NP ( NNS stocks ) ) ( PP-LOC ( IN on ) ( NP ( DT the ) ( NNP New ) ( NNP York ) ( NNP Stock ) ( NNP Exchange ) ) ) ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( VP ( VBD fell ) ( PP-CLR ( IN in ) ( NP ( NN price ) ) ) ( NP-TMP ( NN yesterday ) ) ) ) ) ) ) ) ( VP ( VP ( VBD exceeded ) ( NP ( CD 1,000 ) ) ) ( NP ( NP ( DT a ) ( JJ key ) ( NN measure ) ) ( PP ( IN of ) ( NP ( JJ underlying ) ( NN sentiment ) ) ) ( PP-LOC ( IN among ) ( NP ( JJ technical ) ( NNS analysts ) ) ) ) ) )

The number of stocks on the New York Stock Exchange that fell in price yesterday exceeded 1,000 a key measure of underlying sentiment among technical analysts


( S ( SBAR-ADV ( IN Although ) ( S ( NP-SBJ ( DT the ) ( NN government ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( DT the ) ( NN economy ) ) ( VP ( VBD grew ) ( NP-EXT ( DT an ) ( JJ estimated ) ( CD 2.5 ) ( NN % ) ) ( PP-TMP ( IN in ) ( NP ( DT the ) ( JJ third ) ( NN quarter ) ) ) ) ) ) ) ) ) ( PP ( IN in ) ( NP ( NP ( NN line ) ) ( PP ( IN with ) ( NP ( NNS expectations ) ) ) ) ) ( NP-SBJ ( NNS analysts ) ) ( VP ( VBP are ) ( ADVP ( RB increasingly ) ) ( VP ( VBG predicting ) ( NP ( NP ( ADJP ( ADVP ( RB much ) ( RBR more ) ) ( JJ sluggish ) ) ( NN growth ) ) ( PRN ( CC and ) ( ADVP ( RB therefore ) ) ( NP ( JJR more ) ( JJ corporate ) ( NNS earnings ) ( NNS disappointments ) ) ) ) ( PP ( IN for ) ( NP ( DT the ) ( JJ fourth ) ( NN quarter ) ) ) ) ) )

Although the government said the economy grew an estimated 2.5 % in the third quarter in line with expectations analysts are increasingly predicting much more sluggish growth and therefore more corporate earnings disappointments for the fourth quarter


( SINV ( S-TPC-1 ( NP-SBJ ( EX There ) ) ( VP ( VBP are ) ( NP-PRD ( NP ( ADJP ( NP-ADV ( DT a ) ( RB lot ) ) ( JJR more ) ) ( JJ downward ) ( NNS revisions ) ) ( PP ( IN of ) ( NP ( NNS earnings ) ( NNS forecasts ) ) ) ( PP ( IN than ) ( NP ( JJ upward ) ( NNS revisions ) ) ) ) ) ) ( VP ( VBD said ) ) ( NP-SBJ ( NP ( NNP Abby ) ( NNP Joseph ) ( NNP Cohen ) ) ( NP ( NP ( DT a ) ( NN market ) ( NN strategist ) ) ( PP-LOC ( IN at ) ( NP ( NNP Drexel ) ( NNP Burnham ) ( NNP Lambert ) ) ) ) ) )

There are a lot more downward revisions of earnings forecasts than upward revisions said Abby Joseph Cohen a market strategist at Drexel Burnham Lambert


( S ( NP-SBJ ( NNS People ) ) ( VP ( VBP are ) ( VP ( VBG questioning ) ( NP ( JJ corporate ) ( NNS profits ) ) ( PP-CLR ( IN as ) ( NP ( NP ( DT a ) ( NN pillar ) ) ( PP ( IN of ) ( NP ( NN support ) ) ) ( PP ( IN for ) ( NP ( DT the ) ( NN equity ) ( NN market ) ) ) ) ) ) ) )

People are questioning corporate profits as a pillar of support for the equity market


( S ( NP-SBJ ( DT The ) ( NN bond ) ( NN market ) ) ( VP ( VBD was ) ( ADJP-PRD ( JJ unmoved ) ( PP ( IN by ) ( NP ( DT the ) ( JJ economic ) ( NNS statistics ) ) ) ) ) )

The bond market was unmoved by the economic statistics


( S ( SBAR-ADV ( IN While ) ( S ( NP-SBJ ( NN bond ) ( NNS investors ) ) ( VP ( MD would ) ( VP ( VB have ) ( VP ( VBN preferred ) ( S ( NP-SBJ ( NN growth ) ) ( VP ( TO to ) ( VP ( VB be ) ( NP-PRD ( NP-ADV ( DT a ) ( JJ little ) ) ( JJR slower ) ) ) ) ) ) ) ) ) ) ( NP-SBJ-1 ( PRP they ) ) ( VP ( VBD were ) ( VP ( VBN cheered ) ( PP ( IN by ) ( NP-LGS ( NP ( NN inflation ) ( NNS measures ) ) ( PP ( IN in ) ( NP ( DT the ) ( NNS data ) ) ) ( SBAR ( WHNP-2 ( WDT that ) ) ( S ( VP ( VBD showed ) ( S ( NP-SBJ ( NNS prices ) ) ( VP ( VBG rising ) ( PP-MNR ( IN at ) ( NP ( NP ( DT a ) ( JJ modest ) ( JJ annual ) ( NN rate ) ) ( PP ( IN of ) ( NP ( CD 2.9 ) ( NN % ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

While bond investors would have preferred growth to be a little slower they were cheered by inflation measures in the data that showed prices rising at a modest annual rate of 2.9 %


( S ( S-TPC-1 ( NP-SBJ ( DT That ) ) ( VP ( VBZ is ) ( NP-PRD ( DT another ) ( JJ small ) ( NN encouragement ) ( SBAR ( IN for ) ( S ( NP-SBJ ( DT the ) ( NNP Federal ) ( NNP Reserve ) ) ( VP ( TO to ) ( VP ( VB lower ) ( NP ( NN interest ) ( NNS rates ) ) ( PP-TMP ( IN in ) ( NP ( JJ coming ) ( NNS weeks ) ) ) ) ) ) ) ) ) ) ( NP-SBJ ( PRP they ) ) ( VP ( VBD reasoned ) ) )

That is another small encouragement for the Federal Reserve to lower interest rates in coming weeks they reasoned


( PP-LOC-HLN ( IN In ) ( NP ( JJ major ) ( NN market ) ( NN activity ) ) )

In major market activity


( S ( NP-SBJ ( NNP Stock ) ( NNS prices ) ) ( VP ( VBD fell ) ( ADVP-MNR ( RB sharply ) ) ( PP-LOC ( IN in ) ( NP ( JJ active ) ( NN trading ) ) ) ) )

Stock prices fell sharply in active trading


( S ( NP-SBJ ( NP ( NN Volume ) ) ( PP-LOC ( IN on ) ( NP ( DT the ) ( NNP New ) ( NNP York ) ( NNP Stock ) ( NNP Exchange ) ) ) ) ( VP ( VBD totaled ) ( NP ( QP ( CD 175.2 ) ( CD million ) ) ( NNS shares ) ) ) )

Volume on the New York Stock Exchange totaled 175.2 million shares


( S ( NP-SBJ ( NP ( VBG Declining ) ( NNS issues ) ) ( PP ( IN on ) ( NP ( DT the ) ( NNP Big ) ( NNP Board ) ) ) ) ( VP ( VBD outstripped ) ( NP ( NNS gainers ) ) ( NP-ADV ( NP ( CD 1,141 ) ) ( PP ( TO to ) ( NP ( CD 406 ) ) ) ) ) )

Declining issues on the Big Board outstripped gainers 1,141 to 406


( S ( NP-SBJ ( NN Bond ) ( NNS prices ) ) ( VP ( VBD were ) ( ADJP-PRD ( RB barely ) ( JJR higher ) ) ) )

Bond prices were barely higher


( S ( NP-SBJ ( NP ( DT The ) ( NNP Treasury ) ( POS 's ) ) ( NN benchmark ) ( JJ 30-year ) ) ( VP ( VBD rose ) ( ADVP-EXT ( RB fractionally ) ) ) )

The Treasury 's benchmark 30-year rose fractionally


( S ( NP-SBJ ( NP ( NN Yield ) ) ( PP ( IN on ) ( NP ( DT the ) ( NN issue ) ) ) ) ( VP ( VBD was ) ( NP-PRD ( CD 7.88 ) ( NN % ) ) ) )

Yield on the issue was 7.88 %


( S ( NP-SBJ ( DT The ) ( NN dollar ) ) ( VP ( VBD rose ) ( ADVP-EXT ( RB modestly ) ) ( PP ( IN against ) ( NP ( JJS most ) ( JJ major ) ( NNS currencies ) ) ) ) )

The dollar rose modestly against most major currencies


( S ( PP-LOC ( IN In ) ( NP ( JJ late ) ( NNP New ) ( NNP York ) ( NN trading ) ) ) ( NP-SBJ ( DT the ) ( NN dollar ) ) ( VP ( VBD was ) ( PP-PRD ( IN at ) ( NP ( NP ( CD 1.8400 ) ( NNS marks ) ) ( CC and ) ( NP ( CD 142.10 ) ( NNS yen ) ) ) ) ( PP ( VBN compared ) ( PP ( IN with ) ( NP ( NP ( NP ( CD 1.8353 ) ( NNS marks ) ) ( CC and ) ( NP ( CD 141.52 ) ( NNS yen ) ) ) ( NP-TMP ( NNP Wednesday ) ) ) ) ) ) )

In late New York trading the dollar was at 1.8400 marks and 142.10 yen compared with 1.8353 marks and 141.52 yen Wednesday


( S ( NP-SBJ ( DT The ) ( NN dollar ) ) ( VP ( VBD soared ) ( PP ( IN against ) ( NP ( NP ( DT the ) ( NN pound ) ) ( SBAR ( WHNP-1 ( WDT which ) ) ( S ( VP ( VBD was ) ( PP-PRD ( IN at ) ( NP ( CD 1.5765 ) ) ) ( PP ( VBN compared ) ( PP ( IN with ) ( NP ( NP ( CD 1.6145 ) ) ( NP-TMP ( NNP Wednesday ) ) ) ) ) ) ) ) ) ) ) )

The dollar soared against the pound which was at 1.5765 compared with 1.6145 Wednesday


( S ( NP-SBJ-1 ( DT The ) ( NNP House ) ) ( VP ( VBD joined ) ( NP ( DT the ) ( NNP Senate ) ) ( PP-LOC ( IN in ) ( S-NOM ( VP ( VBG making ) ( S ( NP-SBJ ( NP ( JJ federal ) ( NNS reparations ) ) ( PP ( IN for ) ( NP ( NP ( NNPS Japanese-Americans ) ) ( VP ( VBN held ) ( PP-LOC ( IN in ) ( NP ( NNP World ) ( NNP War ) ( NNP II ) ( NN internment ) ( NNS camps ) ) ) ) ) ) ) ( NP-PRD ( NP ( DT a ) ( JJ legal ) ( NN entitlement ) ) ( VP ( VBG requiring ) ( S ( NP-SBJ ( DT the ) ( NNP Treasury ) ( NNP Department ) ) ( VP ( TO to ) ( VP ( VB meet ) ( NP ( NP ( JJ expedited ) ( NNS payments ) ) ( PP ( IN of ) ( NP ( NP ( DT an ) ( JJ estimated ) ( QP ( CD 1.25 ) ( CD billion ) ) ) ( PP-TMP ( IN during ) ( NP ( DT the ) ( JJ next ) ( JJ several ) ( NNS years ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

The House joined the Senate in making federal reparations for Japanese-Americans held in World War II internment camps a legal entitlement requiring the Treasury Department to meet expedited payments of an estimated 1.25 billion during the next several years


( S ( NP-SBJ ( DT The ) ( JJ 249-166 ) ( NN roll ) ( NN call ) ) ( VP ( VBD came ) ( SBAR-TMP ( IN as ) ( S ( NP-SBJ ( DT the ) ( NN chamber ) ) ( VP ( VBD approved ) ( NP ( NP ( DT a ) ( NN compromise ) ( NN bill ) ) ( VP ( VP ( VBG allocating ) ( NP ( QP ( CD 17.2 ) ( CD billion ) ) ) ( PP-DTV ( TO to ) ( NP ( NP ( DT the ) ( NNS departments ) ) ( PP ( IN of ) ( NP ( NNP State ) ( NNP Justice ) ( CC and ) ( NNP Commerce ) ) ) ) ) ( PP-TMP ( IN in ) ( NP ( JJ fiscal ) ( CD 1990 ) ) ) ) ( CC and ) ( VP ( VBG imposing ) ( NP ( JJ increased ) ( NNS fees ) ) ( PP-CLR ( IN on ) ( NP ( NP ( NN business ) ( NNS interests ) ) ( VP ( VBG making ) ( NP ( NP ( NNS filings ) ) ( PP ( IN with ) ( NP ( DT the ) ( NN government ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

The 249-166 roll call came as the chamber approved a compromise bill allocating 17.2 billion to the departments of State Justice and Commerce in fiscal 1990 and imposing increased fees on business interests making filings with the government


( S ( S ( NP-SBJ ( DT An ) ( JJ estimated ) ( QP ( CD 40 ) ( CD million ) ) ) ( VP ( MD would ) ( VP ( VB come ) ( ADVP-TMP ( RB annually ) ) ( PP-DIR ( IN from ) ( NP ( NP ( DT a ) ( JJ new ) ( ADJP ( CD 20,000 ) ) ( NN charge ) ) ( PP ( IN on ) ( NP ( NP ( JJ pre-merger ) ( NNS notifications ) ) ( PP ( TO to ) ( NP ( DT the ) ( NNP Justice ) ( NNP Department ) ) ) ) ) ) ) ) ) ) ( CC and ) ( S ( NP-SBJ ( NNP Securities ) ( CC and ) ( NNP Exchange ) ( NNP Commission ) ( NN filing ) ( NNS fees ) ) ( VP ( MD would ) ( VP ( VB rise ) ( PP-EXT ( IN by ) ( NP ( CD 25 ) ( NN % ) ) ) ( S-PRP ( VP ( TO to ) ( VP ( VB fund ) ( NP ( NP ( DT a ) ( ADJP ( QP ( CD 26 ) ( CD million ) ) ) ( NN increase ) ) ( PP-LOC ( IN in ) ( NP ( NP ( DT the ) ( NN agency ) ( POS 's ) ) ( NN budget ) ) ) ) ) ) ) ) ) ) )

An estimated 40 million would come annually from a new 20,000 charge on pre-merger notifications to the Justice Department and Securities and Exchange Commission filing fees would rise by 25 % to fund a 26 million increase in the agency 's budget


( S ( NP-SBJ ( NP ( NP ( NN Yesterday ) ( POS 's ) ) ( NN vote ) ) ( PP ( IN on ) ( NP ( JJ Japanese-American ) ( NNS reparations ) ) ) ) ( VP ( VBZ ensures ) ( NP ( NP ( JJ final ) ( NN enactment ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( NN entitlement ) ( NN provision ) ) ( SBAR ( WHNP-1 ( WDT which ) ) ( S ( VP ( VP ( VBZ abandons ) ( NP ( JJR earlier ) ( NNS efforts ) ( S ( VP ( TO to ) ( VP ( VB find ) ( NP ( JJ offsetting ) ( NNS cuts ) ) ) ) ) ) ) ( CC but ) ( VP ( VBZ is ) ( VP ( VBN seen ) ( PP-CLR ( IN as ) ( NP ( NP ( DT a ) ( ADJP ( RBR more ) ( JJ realistic ) ) ( NN path ) ) ( PP ( TO to ) ( S-NOM ( VP ( VBG expediting ) ( NP ( NP ( NN compensation ) ) ( VP ( ADVP-TMP ( RB first ) ) ( VBN authorized ) ( PP-TMP ( IN in ) ( NP ( CD 1988 ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Yesterday 's vote on Japanese-American reparations ensures final enactment of the entitlement provision which abandons earlier efforts to find offsetting cuts but is seen as a more realistic path to expediting compensation first authorized in 1988


( SINV ( S-TPC-4 ( NP-SBJ ( NP ( DT The ) ( JJ only ) ( NN way ) ) ( SBAR ( S ( VP ( TO to ) ( VP ( VB reduce ) ( NP ( DT the ) ( NNS costs ) ) ) ) ) ) ) ( VP ( VBZ is ) ( S-PRD ( VP ( TO to ) ( VP ( VB say ) ( SBAR ( S ( NP-SBJ-1 ( PRP we ) ) ( VP ( VBP do ) ( RB n't ) ( VP ( VB want ) ( S ( VP ( TO to ) ( VP ( VB pay ) ( NP ( DT the ) ( NN bill ) ) ) ) ) ) ) ) ) ) ) ) ) ) ( VP ( VBD said ) ) ( NP-SBJ ( NP ( NNP Rep. ) ( NNP Neal ) ( NNP Smith ) ) ( PRN ( NP ( NP ( NNP D. ) ) ( NP-LOC ( NNP Iowa ) ) ) ) ( SBAR ( WHNP-3 ( WP who ) ) ( S ( VP ( VBD taunted ) ( S ( NP-SBJ ( NP ( NNP President ) ( NNP Bush ) ( POS 's ) ) ( NN party ) ) ( VP ( TO to ) ( VP ( VB back ) ( PRT ( RP up ) ) ( NP ( NP ( PRP$ his ) ( NN campaign ) ( NN promise ) ) ( PP ( IN of ) ( S-NOM ( VP ( VBG supporting ) ( NP ( NP ( DT the ) ( NNS claims ) ) ( PP ( IN of ) ( NP ( NP ( CD 20,000 ) ) ( PP ( IN per ) ( NP ( NN individual ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

The only way to reduce the costs is to say we do n't want to pay the bill said Rep. Neal Smith D. Iowa who taunted President Bush 's party to back up his campaign promise of supporting the claims of 20,000 per individual


( SINV ( S-TPC-1 ( VP ( VB Read ) ( NP ( PRP$ my ) ( NNS lips ) ) ) ) ( VP ( VBD said ) ) ( NP-SBJ ( NNP Mr. ) ( NNP Smith ) ) )

Read my lips said Mr. Smith


( S ( SBAR-ADV ( IN If ) ( S ( NP-SBJ ( PRP you ) ) ( VP ( VBP 're ) ( PP-PRD ( IN for ) ( S-NOM ( VP ( VBG paying ) ( NP ( DT the ) ( NNS claims ) ) ) ) ) ) ) ) ( NP-SBJ ( PRP I ) ) ( VP ( VBP do ) ( RB n't ) ( VP ( VB know ) ( SBAR ( WHADVP-1 ( WRB how ) ) ( S ( NP-SBJ ( NN anyone ) ) ( VP ( MD can ) ( VP ( VB oppose ) ( NP ( DT this ) ) ) ) ) ) ) ) )

If you 're for paying the claims I do n't know how anyone can oppose this


( S ( S ( NP-SBJ-1 ( DT No ) ( NNS payments ) ) ( VP ( MD would ) ( VP ( VB be ) ( VP ( VBN made ) ( NP-TMP ( DT this ) ( NN year ) ) ) ) ) ) ( CC but ) ( S ( S-TMP ( VP ( VBG beginning ) ( PP-TMP ( IN in ) ( NP ( JJ fiscal ) ( CD 1991 ) ) ) ) ) ( NP-SBJ ( DT the ) ( NN bill ) ) ( VP ( VBZ commits ) ( NP ( DT the ) ( NN government ) ) ( PP-CLR ( TO to ) ( NP ( NP ( JJ annual ) ( NNS payments ) ) ( PP ( IN of ) ( NP ( QP ( RB as ) ( JJ much ) ( IN as ) ( CD 500 ) ( CD million ) ) ) ) ) ) ( SBAR-TMP ( IN until ) ( S ( NP-SBJ-2 ( NP ( DT the ) ( JJ total ) ( NN liability ) ) ( PP ( IN of ) ( NP ( QP ( CD 1.25 ) ( CD billion ) ) ) ) ) ( VP ( VBZ is ) ( VP ( VBN met ) ) ) ) ) ) ) )

No payments would be made this year but beginning in fiscal 1991 the bill commits the government to annual payments of as much as 500 million until the total liability of 1.25 billion is met


( S ( NP-SBJ ( DT The ) ( NN issue ) ) ( VP ( VP ( VBZ has ) ( VP ( VBN assumed ) ( NP ( NP ( DT some ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( NN character ) ) ( PP ( IN of ) ( NP ( JJ past ) ( NNS civil-rights ) ( NNS debates ) ) ) ) ) ) ) ) ( CC and ) ( VP ( VBZ reopens ) ( NP ( NP ( JJ old ) ( JJ regional ) ( NNS divisions ) ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( JJ Democratic ) ( NN majority ) ) ) ) ) ) )

The issue has assumed some of the character of past civil-rights debates and reopens old regional divisions in the Democratic majority


( S ( ADVP ( ADVP ( RB As ) ( RB much ) ) ( SBAR ( IN as ) ( S ( NP-SBJ ( NNPS Republicans ) ) ( VP ( VBD led ) ( NP ( DT the ) ( NN opposition ) ) ) ) ) ) ( PP-TPC-1 ( IN among ) ( NP ( NP ( DT the ) ( CD 53 ) ( NNPS Democrats ) ) ( VP ( VBG voting ) ( PP-CLR ( IN against ) ( S-NOM ( VP ( VBG treating ) ( NP ( DT the ) ( NNS payments ) ) ( PP-CLR ( IN as ) ( NP ( DT an ) ( NN entitlement ) ) ) ) ) ) ) ) ) ( NP-SBJ ( NP ( CD 42 ) ) ) ( VP ( VBD came ) ( PP-DIR ( IN from ) ( NP ( NP ( DT the ) ( CD 13 ) ( NNS states ) ) ( PP-LOC ( IN in ) ( NP ( NP ( DT the ) ( NNP Old ) ( NNP Dixiecrat ) ( NNP South ) ) ( CC and ) ( NP ( PRP$ its ) ( NNS borders ) ) ) ) ) ) ) )

As much as Republicans led the opposition among the 53 Democrats voting against treating the payments as an entitlement 42 came from the 13 states in the Old Dixiecrat South and its borders


( S ( S ( NP-SBJ ( NP ( DT The ) ( JJ odd ) ( NN mix ) ) ( PP ( IN of ) ( NP ( NNS departments ) ) ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( JJ underlying ) ( NN bill ) ) ) ) ( VP ( VBZ makes ) ( S ( NP-SBJ ( PRP it ) ) ( NP-PRD ( NP ( CD one ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( ADJP ( RBR more ) ( JJ eclectic ) ) ) ( PP ( IN of ) ( NP ( DT the ) ( JJ annual ) ( NNS appropriations ) ( NNS measures ) ) ) ) ) ) ) ) ) ( CC and ) ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBZ is ) ( NP-PRD ( NP ( DT a ) ( NN lightning ) ( NN rod ) ) ( PP ( IN for ) ( NP ( NP ( DT a ) ( JJ running ) ( NN battle ) ) ( PP ( IN over ) ( NP ( NP ( DT the ) ( NN fate ) ) ( PP ( IN of ) ( NP ( DT the ) ( NNP Legal ) ( NNP Services ) ( NNP Corp ) ) ) ) ) ) ) ) ) ) )

The odd mix of departments in the underlying bill makes it one of the more eclectic of the annual appropriations measures and it is a lightning rod for a running battle over the fate of the Legal Services Corp


( S ( NP-SBJ ( DT The ) ( NN measure ) ) ( VP ( VP ( VBZ provides ) ( NP ( NP ( QP ( CD 321 ) ( CD million ) ) ) ( SBAR-PRP ( S ( VP ( TO to ) ( VP ( VB maintain ) ( NP ( NNS services ) ) ) ) ) ) ) ) ( CC but ) ( VP ( MD would ) ( ADVP-MNR ( RB sharply ) ) ( VP ( VB curb ) ( NP ( NP ( DT the ) ( NN power ) ) ( PP ( IN of ) ( NP ( DT the ) ( JJ current ) ( NN board ) ) ) ) ( SBAR-TMP ( IN until ) ( S ( NP-SBJ-2 ( NNS successors ) ) ( VP ( VBP are ) ( VP ( VBN agreed ) ( PP-CLR ( TO to ) ) ( PP ( IN by ) ( NP-LGS ( DT the ) ( NNP Bush ) ( NN administration ) ) ) ) ) ) ) ) ) ) )

The measure provides 321 million to maintain services but would sharply curb the power of the current board until successors are agreed to by the Bush administration


( S ( NP-SBJ ( NP ( DT The ) ( JJ conservative ) ( NN bent ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( JJ incumbent ) ( NNS appointees ) ) ( VP ( VBN named ) ( PP ( IN by ) ( NP-LGS ( JJ former ) ( NNP President ) ( NNP Reagan ) ) ) ) ) ) ) ( VP ( VBZ has ) ( VP ( VBN divided ) ( NP ( NNPS Republicans ) ) ) ) )

The conservative bent of the incumbent appointees named by former President Reagan has divided Republicans


( S ( CC And ) ( PP ( IN on ) ( NP ( JJ back-to-back ) ( NN roll ) ( NNS calls ) ) ) ( ADVP ( JJ 206-199 ) ( CC and ) ( JJ 223-178 ) ) ( NP-SBJ ( DT the ) ( NNP Appropriations ) ( NNP Committee ) ( NN leadership ) ) ( VP ( VBD turned ) ( ADVP-DIR ( RP back ) ) ( NP ( NP ( NNS efforts ) ( S ( VP ( TO to ) ( VP ( VB weaken ) ( CC or ) ( VB strip ) ( NP ( DT the ) ( JJ proposed ) ( NNS restrictions ) ) ) ) ) ) ( VP ( ADVP-TMP ( RB first ) ) ( VBN added ) ( PP ( IN by ) ( NP-LGS ( NP ( NNP Sen. ) ( NNP Warren ) ( NNP Rudman ) ) ( PRN ( NP ( NP ( NNP R. ) ) ( NP-LOC ( NNP N.H. ) ) ) ) ) ) ) ) ) )

And on back-to-back roll calls 206-199 and 223-178 the Appropriations Committee leadership turned back efforts to weaken or strip the proposed restrictions first added by Sen. Warren Rudman R. N.H.


( S ( NP-SBJ-1 ( NP ( DT The ) ( JJ estimated ) ( QP ( CD 40 ) ( CD million ) ) ) ( PP ( IN from ) ( NP ( DT the ) ( JJ new ) ( JJ pre-merger ) ( NN notification ) ( NN fee ) ) ) ) ( VP ( MD would ) ( VP ( VB be ) ( VP ( VBN divided ) ( PP-CLR ( IN between ) ( NP ( NP ( NP ( NP ( DT the ) ( NNP Justice ) ( NNP Department ) ( POS 's ) ) ( NNP Antitrust ) ( NNP Division ) ) ( CC and ) ( NP ( DT the ) ( NNP Federal ) ( NNP Trade ) ( NNP Commission ) ) ) ( SBAR ( WHNP-2 ( WDT which ) ) ( S ( DT both ) ( VP ( VBP face ) ( NP ( JJ serious ) ( NNS cuts ) ) ( SBAR-ADV ( IN if ) ( S ( NP-SBJ ( DT the ) ( NN income ) ) ( VP ( VBZ is ) ( RB n't ) ( VP ( VBN realized ) ) ) ) ) ) ) ) ) ) ) ) ) )

The estimated 40 million from the new pre-merger notification fee would be divided between the Justice Department 's Antitrust Division and the Federal Trade Commission which both face serious cuts if the income is n't realized


( S ( S ( NP-SBJ-1 ( NP ( DT The ) ( NNP Federal ) ( NNP Bureau ) ) ( PP ( IN of ) ( NP ( NNP Investigation ) ) ) ) ( VP ( VBZ is ) ( VP ( VBN slated ) ( S ( VP ( TO to ) ( VP ( VB receive ) ( NP ( QP ( CD 30 ) ( CD million ) ) ) ( PP-MNR ( IN by ) ( S-NOM ( VP ( VBG charging ) ( PP-CLR ( IN for ) ( NP ( NP ( NN fingerprint ) ( NNS services ) ) ( PP-LOC ( IN in ) ( NP ( JJ civil ) ( NNS cases ) ) ) ) ) ) ) ) ) ) ) ) ) ) ( CC and ) ( S ( NP-SBJ ( DT the ) ( NN judiciary ) ) ( VP ( MD will ) ( VP ( VB rely ) ( PP-CLR ( IN on ) ( NP ( NP ( DT another ) ( QP ( CD 32 ) ( CD million ) ) ) ( PP ( IN from ) ( NP ( NP ( NN bankruptcy ) ( NNS charges ) ) ( PP ( VBG including ) ( NP ( NP ( DT a ) ( ADJP ( CD 33 ) ( NN % ) ) ( NN increase ) ) ( PP-CLR ( IN in ) ( NP ( DT the ) ( JJ current ) ( NN filing ) ( NN fee ) ) ) ) ) ) ) ) ) ) ) ) )

The Federal Bureau of Investigation is slated to receive 30 million by charging for fingerprint services in civil cases and the judiciary will rely on another 32 million from bankruptcy charges including a 33 % increase in the current filing fee


( S ( S ( NP-SBJ ( NP ( DT The ) ( ADJP ( QP ( CD 17.2 ) ( CD billion ) ) ) ( NN total ) ) ( PP ( IN for ) ( NP ( DT the ) ( NN bill ) ) ) ) ( VP ( VBZ does ) ( RB n't ) ( VP ( VB include ) ( NP ( NP ( DT an ) ( JJ estimated ) ( QP ( CD 1.2 ) ( CD billion ) ) ) ( PP ( IN in ) ( NP ( NP ( JJ supplemental ) ( JJ anti-drug ) ( NNS funds ) ) ( VP ( VBN approved ) ( PP ( IN by ) ( NP-LGS ( DT the ) ( NNP House-Senate ) ( NN conference ) ) ) ( NP-TMP ( NN yesterday ) ) ) ) ) ) ) ) ) ( CC and ) ( S ( NP-SBJ ( NP ( DT the ) ( NN rush ) ) ( PP ( IN of ) ( NP ( NN money ) ) ) ) ( VP ( VBZ is ) ( ADVP-TMP ( RB already ) ) ( VP ( JJ provoking ) ( NP ( NP ( NN jealousy ) ) ( PP-LOC ( IN among ) ( NP ( NP ( NNS states ) ) ( VP ( VBG competing ) ( PP-CLR ( IN for ) ( NP ( NN assistance ) ) ) ) ) ) ) ) ) ) )

The 17.2 billion total for the bill does n't include an estimated 1.2 billion in supplemental anti-drug funds approved by the House-Senate conference yesterday and the rush of money is already provoking jealousy among states competing for assistance


( S ( S ( NP-SBJ-1 ( DT The ) ( NNP House ) ) ( VP ( VBD agreed ) ( S ( VP ( TO to ) ( VP ( VB defer ) ( PP-TMP ( IN for ) ( NP ( DT a ) ( NN year ) ) ) ( NP ( NP ( DT a ) ( JJ scheduled ) ( ADJP ( CD 50 ) ( NN % ) ) ( NN increase ) ) ( PP ( IN in ) ( NP ( NP ( DT the ) ( JJ required ) ( NN state ) ( JJ matching ) ( NNS funds ) ) ( PP ( IN for ) ( NP ( NN law-enforcement ) ( NNS grants ) ) ) ) ) ) ) ) ) ) ) ( CC but ) ( S ( PP ( IN by ) ( NP ( DT a ) ( JJ 287-123 ) ( NN margin ) ) ) ( NP-SBJ ( DT the ) ( NN chamber ) ) ( VP ( VBD stripped ) ( NP ( DT a ) ( NNP Senate ) ( NN initiative ) ( S ( VP ( TO to ) ( VP ( VB raise ) ( NP ( NP ( DT the ) ( JJ minimum ) ( NN grant ) ) ( PP ( IN for ) ( NP ( NP ( JJR smaller ) ( NNS states ) ) ( PP ( JJ such ) ( IN as ) ( NP ( NP ( NNP New ) ( NNP Hampshire ) ) ( CC and ) ( NP ( NNP Delaware ) ) ) ) ) ) ) ( PP-DIR ( TO to ) ( NP ( QP ( CD 1.6 ) ( CD million ) ) ) ) ( PP-DIR ( IN from ) ( NP ( CD 500,000 ) ) ) ) ) ) ) ) ) )

The House agreed to defer for a year a scheduled 50 % increase in the required state matching funds for law-enforcement grants but by a 287-123 margin the chamber stripped a Senate initiative to raise the minimum grant for smaller states such as New Hampshire and Delaware to 1.6 million from 500,000


( S ( NP-SBJ ( JJ Few ) ) ( VP ( VBP are ) ( ADJP-PRD ( ADJP ( RBR more ) ( JJ powerful ) ) ) ( PP-LOC ( IN in ) ( NP ( NP ( DT the ) ( NN competition ) ) ( PP ( IN for ) ( NP ( NNS funds ) ) ) ) ) ( PP-1 ( IN than ) ( NP ( NP ( DT the ) ( NNS appropriations ) ( VBZ committees ) ) ( NP ( PRP themselves ) ) ( PP ( VBG including ) ( NP ( NP ( DT the ) ( CD three ) ( NNS authors ) ) ( PP ( IN of ) ( NP ( DT the ) ( NNP Gramm-Rudman-Hollings ) ( JJ deficit-reduction ) ( NN law ) ) ) ) ) ) ) ) )

Few are more powerful in the competition for funds than the appropriations committees themselves including the three authors of the Gramm-Rudman-Hollings deficit-reduction law


( S ( SBAR-TMP ( WHADVP-1 ( WRB When ) ) ( S ( NP-SBJ ( NP ( DT a ) ( NNP House-Senate ) ( NN conference ) ) ( PP ( IN on ) ( NP ( NP ( NN yesterday ) ( POS 's ) ) ( NN bill ) ) ) ) ( VP ( VBD rescinded ) ( NP ( NP ( QP ( CD 11.8 ) ( CD million ) ) ) ( PP ( IN in ) ( NP ( NP ( JJ unexpended ) ( NNS funds ) ) ( PP ( IN for ) ( NP ( NP ( DT a ) ( NAC-LOC ( NNP Fort ) ( NNP Worth ) ( NNP Texas ) ) ( JJ economic ) ( NN development ) ( NN project ) ) ( VP ( VBN backed ) ( PP ( IN by ) ( NP-LGS ( JJ former ) ( NNP Speaker ) ( NNP James ) ( NNP Wright ) ) ) ) ) ) ) ) ) ) ) ) ( NP-SBJ ( NP ( NNP Sen. ) ( NNP Phil ) ( NNP Gramm ) ) ( PRN ( NP ( NP ( NNP R. ) ) ( NP-LOC ( NNP Texas ) ) ) ) ) ( VP ( VBD insisted ) ( NP-TMP ( JJ last ) ( NN week ) ) ( SBAR ( IN that ) ( S ( NP-SBJ-2 ( DT the ) ( NN money ) ) ( VP ( VB be ) ( VP ( VBN preserved ) ) ) ) ) ) )

When a House-Senate conference on yesterday 's bill rescinded 11.8 million in unexpended funds for a Fort Worth Texas economic development project backed by former Speaker James Wright Sen. Phil Gramm R. Texas insisted last week that the money be preserved


( S ( S ( NP-SBJ ( DT The ) ( NN measure ) ) ( VP ( VBZ includes ) ( NP ( NP ( QP ( CD 2 ) ( CD million ) ) ) ( VP ( VBN secured ) ( PP ( IN by ) ( NP-LGS ( NNP Mr. ) ( NNP Rudman ) ) ) ( PP-CLR ( IN for ) ( NP ( NP ( DT a ) ( NN marine-research ) ( NN project ) ) ( PP-LOC ( IN at ) ( NP ( NP ( DT the ) ( NNP University ) ) ( PP ( IN of ) ( NP ( NNP New ) ( NNP Hampshire ) ) ) ) ) ) ) ) ) ) ) ( CC and ) ( S ( NP-SBJ-1 ( NP ( NNP Sen. ) ( NNP Ernest ) ( NNP Hollings ) ) ( PRN ( NP ( NP ( NNP D. ) ) ( NP-LOC ( NNP S.C ) ) ) ) ) ( VP ( VBD used ) ( NP ( PRP$ his ) ( NN power ) ) ( S-CLR ( VP ( TO to ) ( VP ( VB add ) ( NP ( NP ( QP ( CD 10 ) ( CD million ) ) ) ( PP ( IN for ) ( NP ( NP ( DT an ) ( JJ advanced ) ( NN technology ) ( NN initiative ) ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( NNP Commerce ) ( NNP Department ) ) ) ) ) ) ) ) ) ) ) )

The measure includes 2 million secured by Mr. Rudman for a marine-research project at the University of New Hampshire and Sen. Ernest Hollings D. S.C used his power to add 10 million for an advanced technology initiative in the Commerce Department


( S ( NP-SBJ ( DT This ) ) ( VP ( VBD was ) ( PP-PRD ( IN in ) ( NP ( NP ( NN addition ) ) ( PP ( TO to ) ( NP ( NP ( DT a ) ( ADJP ( RBR more ) ( JJ parochial ) ) ( ADJP ( QP ( CD 4.5 ) ( CD million ) ) ) ( NN authorization ) ) ( PP ( IN for ) ( NP ( NP ( DT a ) ( NN health ) ( NN center ) ) ( PP-LOC ( IN in ) ( NP ( NNP South ) ( NNP Carolina ) ) ) ( VP ( VBN upheld ) ( PP ( IN by ) ( NP ( DT a ) ( JJ 273-121 ) ( NN vote ) ) ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( NNP House ) ) ) ( NP-TMP ( JJ last ) ( NN night ) ) ) ) ) ) ) ) ) ) )

This was in addition to a more parochial 4.5 million authorization for a health center in South Carolina upheld by a 273-121 vote in the House last night


( S ( NP-SBJ-1 ( NP ( NNP F. ) ( NNP Gil ) ( NNP Troutman ) ) ( ADJP ( NP-ADV ( CD 46 ) ( NNS years ) ) ( JJ old ) ) ) ( VP ( VBD was ) ( VP ( VBN named ) ( S ( NP-PRD ( JJ chief ) ( JJ executive ) ( NN officer ) ) ) ) ) )

F. Gil Troutman 46 years old was named chief executive officer


( S ( NP-SBJ ( PRP He ) ) ( VP ( VP ( VBZ retains ) ( NP ( NP ( PRP$ his ) ( NNS titles ) ) ( PP ( IN of ) ( NP ( NP ( NN president ) ) ( CC and ) ( NP ( NN chief ) ( NN operating ) ( NN officer ) ) ) ) ) ) ( CC and ) ( VP ( VBZ succeeds ) ( PP-CLR ( RB as ) ( NP ( JJ chief ) ( NN executive ) ) ) ( NP ( NP ( NNP Howard ) ( NNP O. ) ( NNP Painter ) ( NNP Jr. ) ) ( SBAR ( WHNP-1 ( WP who ) ) ( S ( VP ( VBZ remains ) ( NP-PRD ( NP ( NN chairman ) ) ( PP ( IN of ) ( NP ( DT the ) ( NN board ) ) ) ) ) ) ) ) ) ) )

He retains his titles of president and chief operating officer and succeeds as chief executive Howard O. Painter Jr. who remains chairman of the board


( S ( NP-SBJ ( NNP DSP ) ) ( VP ( VBZ makes ) ( NP ( NP ( JJ electronic ) ( NN instrumentation ) ) ( CC and ) ( NP ( NN data ) ( NN acquisition ) ( NNS systems ) ) ) ) )

DSP makes electronic instrumentation and data acquisition systems


( S ( S ( NP-SBJ ( DT The ) ( NNP Big ) ( NNP Three ) ( NNP U.S. ) ( NN auto ) ( NNS makers ) ) ( VP ( VBD posted ) ( NP ( NP ( NNS losses ) ) ( PP ( IN in ) ( NP-LOC ( PRP$ their ) ( JJ core ) ( ADJP ( JJ North ) ( JJ American ) ) ( JJ automotive ) ( NNS businesses ) ) ) ( PP ( IN for ) ( NP ( DT the ) ( JJ third ) ( NN quarter ) ) ) ) ) ) ( CC and ) ( S ( NP-SBJ ( NP ( NNS expectations ) ) ( PP ( IN of ) ( NP ( JJ continued ) ( NX ( NX ( JJ slow ) ( NN vehicle ) ( NNS sales ) ) ( CC and ) ( NX ( NN price ) ( NNS wars ) ) ) ) ) ) ( VP ( VBP are ) ( VP ( VBG casting ) ( NP ( DT a ) ( NN pall ) ) ( PP-CLR ( IN over ) ( NP ( DT the ) ( JJ fourth ) ( NN period ) ) ) ) ) ) )

The Big Three U.S. auto makers posted losses in their core North American automotive businesses for the third quarter and expectations of continued slow vehicle sales and price wars are casting a pall over the fourth period


( S ( NP-SBJ ( NP ( DT The ) ( JJS strongest ) ( NN sign ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( NNP Big ) ( CD Three ) ( POS 's ) ) ( NNS woes ) ) ) ) ( VP ( VBD came ) ( PP-DIR ( IN from ) ( NP ( NP ( NNP Ford ) ( NNP Motor ) ( NNP Co. ) ) ( SBAR ( WHNP-1 ( WDT which ) ) ( S ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBD had ) ( NP ( DT a ) ( NN loss ) ) ( PP-LOC ( IN in ) ( NP ( PRP$ its ) ( NNP U.S. ) ( JJ automotive ) ( NN business ) ) ) ( PP ( IN for ) ( NP ( NP ( DT the ) ( JJ first ) ( NN time ) ) ( PP-TMP ( IN since ) ( NP ( CD 1982 ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

The strongest sign of the Big Three 's woes came from Ford Motor Co. which said it had a loss in its U.S. automotive business for the first time since 1982


( S ( NP-SBJ ( NNP Ford ) ) ( VP ( VBD predicted ) ( SBAR ( S ( NP-SBJ ( JJ fourth-quarter ) ( JJ net ) ( NN income ) ) ( VP ( MD will ) ( VP ( VB fall ) ( PP-DIR ( IN below ) ( NP ( DT the ) ( JJ year-earlier ) ( NN level ) ) ) ( PP-PRP ( ADVP ( RB partly ) ) ( IN because ) ( IN of ) ( NP ( NP ( DT a ) ( JJ likely ) ( ADJP ( QP ( CD 500 ) ( CD million ) ) ) ( NN charge ) ) ( PP ( IN from ) ( NP ( NP ( DT the ) ( NN sale ) ) ( PP ( IN of ) ( NP ( PRP$ its ) ( NN steel ) ( NNS operations ) ) ) ) ) ) ) ) ) ) ) ) )

Ford predicted fourth-quarter net income will fall below the year-earlier level partly because of a likely 500 million charge from the sale of its steel operations


( S ( NP-SBJ-1 ( DT The ) ( JJ bleak ) ( JJ automotive ) ( NNS results ) ) ( VP ( VBD were ) ( VP ( VBN offset ) ( PP ( IN by ) ( NP-LGS ( NP ( JJ strong ) ( NNS earnings ) ) ( PP ( IN from ) ( NP ( DT some ) ( JJ non-automotive ) ( NNS operations ) ) ) ) ) ) ) )

The bleak automotive results were offset by strong earnings from some non-automotive operations


( S ( ADVP ( RB Still ) ) ( NP-SBJ ( NP ( DT the ) ( JJ combined ) ( NN profit ) ) ( PP ( IN of ) ( NP ( NP ( NNP Ford ) ) ( NP ( NNP Chrysler ) ( NNP Corp. ) ) ( CC and ) ( NP ( NNP General ) ( NNP Motors ) ( NNP Corp. ) ) ) ) ) ( VP ( VBD fell ) ( NP-EXT ( CD 44 ) ( NN % ) ) ( PP-DIR ( TO to ) ( NP ( QP ( CD 1.02 ) ( CD billion ) ) ) ) ( PP-DIR ( IN from ) ( NP ( QP ( CD 1.83 ) ( CD billion ) ) ) ( ADVP-TMP ( NP ( DT a ) ( NN year ) ) ( RBR earlier ) ) ) ( PP ( VBG excluding ) ( NP ( NP ( DT a ) ( JJ one-time ) ( NN gain ) ) ( PP ( IN of ) ( NP ( QP ( CD 309 ) ( CD million ) ) ) ) ( PP-LOC ( IN at ) ( NP ( NNP Chrysler ) ) ) ( PP ( IN from ) ( NP ( NP ( DT the ) ( NN sale ) ) ( PP ( IN of ) ( NP ( NNP Mitsubishi ) ( NNP Motors ) ( NNP Corp. ) ( NN stock ) ) ) ) ) ) ) ) )

Still the combined profit of Ford Chrysler Corp. and General Motors Corp. fell 44 % to 1.02 billion from 1.83 billion a year earlier excluding a one-time gain of 309 million at Chrysler from the sale of Mitsubishi Motors Corp. stock


( S ( NP-SBJ ( NP ( DT The ) ( JJ last ) ( NN time ) ) ( SBAR ( S ( NP-SBJ ( DT all ) ( CD three ) ( NNS companies ) ) ( VP ( VBD reported ) ( NP ( ADJP ( JJ North ) ( JJ American ) ) ( JJ automotive ) ( NNS losses ) ) ) ) ) ) ( VP ( VBD was ) ( PP-TMP-PRD ( IN in ) ( NP ( NP ( DT the ) ( NN recession ) ( NN year ) ) ( PP ( IN of ) ( NP ( CD 1982 ) ) ) ) ) ) )

The last time all three companies reported North American automotive losses was in the recession year of 1982


( S ( NP-SBJ-1 ( NP ( NN Yesterday ) ( POS 's ) ) ( NNS announcements ) ) ( VP ( VBD helped ) ( S ( VP ( VB spark ) ( NP ( NP ( DT a ) ( NN midday ) ( NN wave ) ) ( PP ( IN of ) ( NP ( NN program ) ( NN selling ) ) ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( NN stock ) ( NN market ) ) ) ) ) ) ) )

Yesterday 's announcements helped spark a midday wave of program selling in the stock market


( S ( S ( NP-SBJ ( NP ( NNP GM ) ( POS 's ) ) ( JJ common ) ) ( VP ( VBD closed ) ( PP-CLR ( IN at ) ( NP ( NP ( CD 44.375 ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ( ADVP ( IN down ) ( NP ( CD 50 ) ( NNS cents ) ) ) ) ) ( S ( NP-SBJ-1 ( NNP Ford ) ) ( VP ( VBD fell ) ( NP-EXT ( CD 37.5 ) ( NNS cents ) ) ( S-CLR ( VP ( TO to ) ( VP ( VB end ) ( PP-CLR ( IN at ) ( NP ( CD 47.50 ) ) ) ) ) ) ) ) ( CC and ) ( S ( NP-SBJ ( NNP Chrysler ) ) ( VP ( VBD eased ) ( NP-EXT ( CD 37.5 ) ( NNS cents ) ) ( PP-DIR ( TO to ) ( NP ( CD 22.25 ) ) ) ) ) ( S-ADV ( NP-SBJ ( DT all ) ) ( PP-LOC-PRD ( IN in ) ( NP ( NNP New ) ( NNP York ) ( NNP Stock ) ( NNP Exchange ) ( JJ composite ) ( NN trading ) ) ) ) )

GM 's common closed at 44.375 a share down 50 cents Ford fell 37.5 cents to end at 47.50 and Chrysler eased 37.5 cents to 22.25 all in New York Stock Exchange composite trading


( S ( NP-SBJ ( NP ( DT The ) ( NN market ) ( POS 's ) ) ( NN pessimism ) ) ( VP ( VBZ reflects ) ( NP ( NP ( DT the ) ( JJ gloomy ) ( NN outlook ) ) ( PP-LOC ( IN in ) ( NP ( NNP Detroit ) ) ) ) ) )

The market 's pessimism reflects the gloomy outlook in Detroit


( S ( SBAR-ADV ( IN As ) ( S ( NP-SBJ ( JJ Japanese ) ( NN auto ) ( NNS makers ) ) ( VP ( VBD gained ) ( NP ( NN market ) ( NN share ) ) ) ) ) ( NP-SBJ ( DT the ) ( NNP Big ) ( CD Three ) ) ( PP ( IN with ) ( NP ( NP ( NNP GM ) ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( NN lead ) ) ) ) ) ( VP ( VP ( VBD slashed ) ( NP ( ADJP ( JJ North ) ( JJ American ) ) ( NN production ) ) ( CC and ) ( VP ( VBD launched ) ( NP ( DT a ) ( JJ retail ) ( NN discounting ) ( NN blitz ) ) ) ) ) )

As Japanese auto makers gained market share the Big Three with GM in the lead slashed North American production and launched a retail discounting blitz


( S ( NP-SBJ ( DT The ) ( NN price ) ( NN war ) ) ( VP ( VBD peaked ) ( PP-TMP ( IN in ) ( NP ( DT the ) ( JJ third ) ( NN quarter ) ) ) ( SBAR-TMP ( IN as ) ( S ( NP-SBJ ( NNP Big ) ( NNP Three ) ( NN factory ) ( NNS discounts ) ) ( VP ( VBD climbed ) ( PP-DIR ( TO to ) ( NP ( NP ( QP ( JJR more ) ( IN than ) ( CD 1,000 ) ) ) ( NP-ADV ( DT a ) ( NN vehicle ) ) ) ) ) ) ) ( PP ( VBG according ) ( PP ( TO to ) ( NP ( NN industry ) ( NNS officials ) ) ) ) ) )

The price war peaked in the third quarter as Big Three factory discounts climbed to more than 1,000 a vehicle according to industry officials


( SINV ( S-TPC-1 ( NP-SBJ ( NNP GM ) ) ( ADVP ( RB probably ) ) ( VP ( VBD had ) ( NP ( DT the ) ( JJS heaviest ) ( NNS incentives ) ) ) ) ( VP ( VBD said ) ) ( NP-SBJ ( NP ( NNP Robert ) ( NNP S. ) ( NNP Miller ) ) ( NP ( NP ( NNP Chrysler ) ( POS 's ) ) ( JJ chief ) ( JJ financial ) ( NN officer ) ) ) )

GM probably had the heaviest incentives said Robert S. Miller Chrysler 's chief financial officer


( S ( NP-SBJ ( NP ( PRP We ) ) ( NP ( DT all ) ) ) ( VP ( VBD did ) ( SBAR-NOM ( WHNP-2 ( WP what ) ) ( S ( NP-SBJ-1 ( PRP we ) ) ( VP ( VBD had ) ( S ( VP ( TO to ) ( VP ( VB do ) ( S-PRP ( VP ( TO to ) ( VP ( VB stay ) ( PP-LOC ( IN within ) ( NP ( NP ( NN sight ) ) ( PP ( IN of ) ( NP ( PRP them ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

We all did what we had to do to stay within sight of them


( S ( S ( CC But ) ( NP-SBJ-1 ( DT the ) ( JJ costly ) ( NNS efforts ) ) ( VP ( VBD did ) ( NP-CLR ( JJ little ) ) ( S-CLR ( VP ( TO to ) ( VP ( VB slow ) ( NP ( JJ Japanese ) ( NN market ) ( NNS gains ) ) ) ) ) ) ) ( CC and ) ( S ( NP-SBJ ( JJ domestic ) ( NN car ) ( NNS sales ) ) ( VP ( VBP have ) ( VP ( VBN plunged ) ( NP-EXT ( CD 19 ) ( NN % ) ) ( SBAR-TMP ( IN since ) ( S ( NP-SBJ ( DT the ) ( NNP Big ) ( NNP Three ) ) ( VP ( VBD ended ) ( NP ( NP ( JJ many ) ) ( PP ( IN of ) ( NP ( PRP$ their ) ( NNS programs ) ) ) ) ( NP-TMP ( NNP Sept. ) ( CD 30 ) ) ) ) ) ) ) ) )

But the costly efforts did little to slow Japanese market gains and domestic car sales have plunged 19 % since the Big Three ended many of their programs Sept. 30


( S ( NP-SBJ ( NNP GM ) ( NNP Ford ) ( CC and ) ( NNP Chrysler ) ) ( VP ( VBP have ) ( ADVP ( RB already ) ) ( VP ( VBN cut ) ( NP ( JJ fourth-quarter ) ( NNP U.S. ) ( NN output ) ( NNS plans ) ) ( NP-EXT ( DT an ) ( JJ estimated ) ( CD 15 ) ( NN % ) ) ( PP-DIR ( IN from ) ( NP ( CD 1988 ) ( NNS levels ) ) ) ) ) )

GM Ford and Chrysler have already cut fourth-quarter U.S. output plans an estimated 15 % from 1988 levels


( S ( SBAR-ADV ( IN If ) ( S ( NP-SBJ ( NNS sales ) ) ( VP ( VBP do ) ( RB n't ) ( VP ( VB pick ) ( PRT ( RP up ) ) ) ) ) ) ( S ( NP-SBJ ( DT the ) ( NNS cuts ) ) ( VP ( MD will ) ( VP ( VB go ) ( ADVP-DIR ( RBR deeper ) ) ) ) ) ( CC and ) ( S ( NP-SBJ ( NNS incentives ) ) ( VP ( MD will ) ( VP ( VB sprout ) ( ADVP ( RB again ) ) ) ) ) )

If sales do n't pick up the cuts will go deeper and incentives will sprout again


( S ( NP-SBJ ( NP ( NNP Ford ) ) ( SBAR ( WHNP-1 ( WDT which ) ) ( S ( VP ( VBZ has ) ( ADVP-TMP ( RB long ) ) ( VP ( VBN boasted ) ( PP-CLR ( IN of ) ( NP ( PRP$ its ) ( NN ability ) ( S ( VP ( TO to ) ( VP ( VB weather ) ( NP ( DT a ) ( NN downturn ) ) ) ) ) ) ) ) ) ) ) ) ( VP ( VBD saw ) ( S ( NP-SBJ ( NNS earnings ) ) ( VP ( VB take ) ( NP ( DT a ) ( NN beating ) ) ) ) ) )

Ford which has long boasted of its ability to weather a downturn saw earnings take a beating


( S ( NP-SBJ ( DT The ) ( NN No. ) ( CD 2 ) ( NN auto ) ( NN maker ) ) ( VP ( VBD blamed ) ( NP ( NP ( NN incentive ) ( NNS costs ) ) ( CC and ) ( NP ( JJ reduced ) ( NN production ) ) ) ( PRN ( S-ADV ( NP-SBJ ( DT both ) ) ( NP-PRD ( NP ( DT the ) ( NN result ) ) ( PP ( IN of ) ( NP ( DT a ) ( ADJP ( RB substantially ) ( JJR weaker ) ) ( NNP U.S. ) ( NN market ) ) ) ) ) ) ( PP-CLR ( IN for ) ( NP ( NP ( DT a ) ( ADJP ( CD 44 ) ( NN % ) ) ( NN drop ) ) ( PP ( IN in ) ( NP ( NN net ) ) ) ( PP ( TO to ) ( NP ( NP ( QP ( CD 477.1 ) ( CD million ) ) ) ( CC or ) ( NP ( NP ( CD 1.03 ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ) ( PP ( IN on ) ( NP ( NP ( NN revenue ) ) ( PP ( IN of ) ( NP ( QP ( CD 20.24 ) ( CD billion ) ) ) ) ) ) ) ) ) )

The No. 2 auto maker blamed incentive costs and reduced production both the result of a substantially weaker U.S. market for a 44 % drop in net to 477.1 million or 1.03 a share on revenue of 20.24 billion


( S ( NP-SBJ ( RB Nearly ) ( PDT all ) ( DT the ) ( NN decline ) ) ( VP ( VBD came ) ( PP-LOC ( IN in ) ( NP ( NP ( NNP Ford ) ( POS 's ) ) ( NNP U.S. ) ( JJ automotive ) ( NNS operations ) ) ) ) )

Nearly all the decline came in Ford 's U.S. automotive operations


( S ( NP-SBJ ( DT The ) ( NAC-LOC ( NNP Dearborn ) ( NNP Mich. ) ) ( NN auto ) ( NN maker ) ) ( VP ( VBD ran ) ( NP ( NP ( NP ( DT a ) ( NN loss ) ) ( PP ( IN of ) ( NP ( QP ( CD 37 ) ( CD million ) ) ) ) ( PP ( IN on ) ( S-NOM ( VP ( VBG assembling ) ( CC and ) ( VBG marketing ) ( NP ( NNS cars ) ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( NNP U.S. ) ) ) ) ) ) ) ( NP ( NP ( DT a ) ( NN deterioration ) ) ( PP ( IN of ) ( NP ( QP ( CD 378 ) ( CD million ) ) ) ) ( PP-LOC ( IN in ) ( NP ( DT that ) ( NN line ) ) ) ( PP ( IN from ) ( NP ( DT the ) ( CD 1988 ) ( NN quarter ) ) ) ) ) ) )

The Dearborn Mich. auto maker ran a loss of 37 million on assembling and marketing cars in the U.S. a deterioration of 378 million in that line from the 1988 quarter


( S ( NP-SBJ-1 ( NNP Ford ) ) ( VP ( VBD managed ) ( S ( VP ( TO to ) ( VP ( VB show ) ( NP ( NP ( DT a ) ( NN profit ) ) ( PP ( IN for ) ( NP ( DT the ) ( NN quarter ) ) ) ) ) ) ) ( PP-PRP ( ADVP ( RB primarily ) ) ( IN because ) ( IN of ) ( NP ( NP ( NNS earnings ) ) ( PP ( IN from ) ( NP ( NP ( JJ overseas ) ( NN auto ) ( NNS operations ) ) ( CC and ) ( NP ( JJ financial ) ( NNS services ) ) ) ) ) ) ) )

Ford managed to show a profit for the quarter primarily because of earnings from overseas auto operations and financial services


( S ( ADVP-TMP ( NP ( DT A ) ( NN year ) ) ( RBR earlier ) ) ( NP-SBJ ( NNP Ford ) ) ( VP ( VBD reported ) ( NP ( NP ( JJ record ) ( NN net ) ) ( PP ( IN of ) ( NP ( NP ( QP ( CD 856.3 ) ( CD million ) ) ) ( CC or ) ( NP ( NP ( CD 1.78 ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ) ( PP ( IN on ) ( NP ( NP ( NN revenue ) ) ( PP ( IN of ) ( NP ( QP ( CD 20.38 ) ( CD billion ) ) ) ) ) ) ) ) )

A year earlier Ford reported record net of 856.3 million or 1.78 a share on revenue of 20.38 billion


( S ( PP-TMP ( IN In ) ( NP ( DT the ) ( JJS latest ) ( CD nine ) ( NNS months ) ) ) ( NP-SBJ ( NNP Ford ) ) ( VP ( VBD earned ) ( NP ( NP ( QP ( CD 3.52 ) ( CD billion ) ) ) ( CC or ) ( NP ( NP ( CD 7.51 ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ( PP ( VBN compared ) ( PP ( IN with ) ( NP ( NP ( QP ( CD 4.14 ) ( CD billion ) ) ) ( CC or ) ( NP ( NP ( CD 8.53 ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ) ) ) )

In the latest nine months Ford earned 3.52 billion or 7.51 a share compared with 4.14 billion or 8.53 a share


( S ( NP-SBJ ( DT The ) ( NNP U.S. ) ( JJ automotive ) ( NN loss ) ) ( VP ( VBD was ) ( NP-PRD ( NP ( DT a ) ( JJ sharp ) ( NN reversal ) ) ( PP ( IN for ) ( NP ( NP ( DT a ) ( NN company ) ) ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( VP ( VBD had ) ( VP ( VBN reeled ) ( PRT ( RP off ) ) ( NP ( NP ( CD 12 ) ( JJ consecutive ) ( NNS quarters ) ) ( PP ( IN of ) ( NP ( JJ improved ) ( NNS earnings ) ) ) ) ( PP-TMP ( IN until ) ( NP ( DT the ) ( CD 1989 ) ( JJ second ) ( NN quarter ) ) ) ) ) ) ) ) ) ) ) )

The U.S. automotive loss was a sharp reversal for a company that had reeled off 12 consecutive quarters of improved earnings until the 1989 second quarter


( S ( CC But ) ( NP-SBJ ( NP ( NNP David ) ( NNP N. ) ( NNP McCammon ) ) ( NP ( NP ( NN vice ) ( NN president ) ) ( NP ( NN finance ) ) ) ) ( VP ( VBD insisted ) ( SBAR ( IN that ) ( S ( NP-SBJ ( NP ( NN cost-cutting ) ) ( CC and ) ( NP ( JJ tight ) ( NN production ) ( NN capacity ) ) ) ( VP ( MD will ) ( VP ( VB make ) ( S ( NP-SBJ ( NNS results ) ) ( ADJP-PRD ( ADJP ( JJR better ) ) ) ( PP-TMP ( IN in ) ( NP ( DT this ) ( NN downturn ) ) ) ( PP-1 ( IN than ) ( PP-TMP ( IN in ) ( NP ( NP ( JJ prior ) ( NNS downturns ) ) ( SBAR-TMP ( WHADVP-2 ( WRB when ) ) ( S ( NP-SBJ ( NNP Ford ) ) ( VP ( VBD had ) ( NP ( JJ net ) ( NNS losses ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

But David N. McCammon vice president finance insisted that cost-cutting and tight production capacity will make results better in this downturn than in prior downturns when Ford had net losses


( S ( ADVP ( RB Still ) ) ( NP-SBJ ( NNP Mr. ) ( NNP McCammon ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( NNP Ford ) ) ( VP ( VBZ expects ) ( S ( NP-SBJ ( DT the ) ( NNP U.S. ) ( NN economy ) ) ( VP ( TO to ) ( VP ( VB weaken ) ( PP-TMP ( IN through ) ( NP ( NP ( DT the ) ( NN end ) ) ( PP ( IN of ) ( NP ( CD 1990 ) ) ) ) ) ( S-ADV ( VP ( VBG causing ) ( NP ( JJR weaker ) ( NNS sales ) ( CC and ) ( NN production ) ) ) ) ) ) ) ) ) ) ) )

Still Mr. McCammon said Ford expects the U.S. economy to weaken through the end of 1990 causing weaker sales and production


( S ( S-TPC-1 ( PP ( IN As ) ( NP ( DT a ) ( NN result ) ) ) ( NP-SBJ ( JJ fourth-quarter ) ( NN profit ) ) ( VP ( MD will ) ( VP ( VB come ) ( PRT ( RP in ) ) ( PP-LOC-CLR ( IN below ) ( NP ( CD 1988 ) ( NNS results ) ) ) ( SBAR-ADV ( IN although ) ( S ( NP-SBJ ( DT the ) ( NN drop ) ) ( VP ( MD wo ) ( RB n't ) ( VP ( VB be ) ( ADJP-PRD ( ADJP ( RB as ) ( JJ sharp ) ) ( PP ( IN as ) ( NP ( DT the ) ( ADJP ( CD 44 ) ( NN % ) ) ( JJ third-quarter ) ( NN decline ) ) ) ) ) ) ) ) ) ) ) ( NP-SBJ ( PRP he ) ) ( VP ( VBD said ) ) )

As a result fourth-quarter profit will come in below 1988 results although the drop wo n't be as sharp as the 44 % third-quarter decline he said


( S ( NP-SBJ ( NP ( NN Part ) ) ( PP ( IN of ) ( NP ( DT the ) ( NN drop ) ) ) ) ( VP ( MD will ) ( VP ( VB come ) ( PP-DIR ( IN from ) ( NP ( NP ( DT an ) ( JJ anticipated ) ( NN charge ) ) ( PP ( IN of ) ( NP ( QP ( RB as ) ( JJ much ) ( IN as ) ( CD 500 ) ( CD million ) ) ) ) ( PP ( IN from ) ( NP ( NP ( DT the ) ( JJ proposed ) ( NN sale ) ) ( PP ( IN of ) ( NP ( PRP$ its ) ( NNP Rouge ) ( NNP Steel ) ( NN unit ) ) ) ) ) ) ) ) ) )

Part of the drop will come from an anticipated charge of as much as 500 million from the proposed sale of its Rouge Steel unit


( S ( PP-TMP ( IN In ) ( NP ( DT the ) ( CD 1988 ) ( JJ fourth ) ( NN quarter ) ) ) ( NP-SBJ ( NNP Ford ) ) ( VP ( VBD had ) ( NP ( NP ( NN net ) ) ( PP ( IN of ) ( NP ( NP ( QP ( CD 1.16 ) ( CD billion ) ) ) ( CC or ) ( NP ( NP ( CD 2.42 ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ) ) ) )

In the 1988 fourth quarter Ford had net of 1.16 billion or 2.42 a share


( S ( NP-SBJ ( NP ( NNP Chrysler ) ( POS 's ) ) ( NN operating ) ( NN profit ) ) ( VP ( VBD fell ) ( PP-DIR ( TO to ) ( NP ( NP ( NP ( DT a ) ( JJ scant ) ( QP ( CD 22 ) ( CD million ) ) ) ( CC or ) ( NP ( NP ( CD 10 ) ( NNS cents ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ( NP ( NP ( PRP$ its ) ( JJS lowest ) ( JJ quarterly ) ( NN total ) ) ( PP-TMP ( IN in ) ( NP ( CD seven ) ( NNS years ) ) ) ) ) ) ) )

Chrysler 's operating profit fell to a scant 22 million or 10 cents a share its lowest quarterly total in seven years


( S ( NP-SBJ ( NP ( PRP$ Its ) ( ADJP ( ADJP ( QP ( CD 309 ) ( CD million ) ) ) ( CC or ) ( ADJP ( ADJP ( CD 1.32 ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ( NN gain ) ) ( PP ( IN from ) ( NP ( NP ( DT the ) ( NN sale ) ) ( PP ( IN of ) ( NP ( QP ( CD 75 ) ( CD million ) ) ( NNP Mitsubishi ) ( NNS shares ) ) ) ) ) ) ( VP ( VBD made ) ( NP ( NP ( JJ net ) ( QP ( CD 331 ) ( CD million ) ) ) ( CC or ) ( NP ( NP ( CD 1.42 ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ) )

Its 309 million or 1.32 a share gain from the sale of 75 million Mitsubishi shares made net 331 million or 1.42 a share


( S ( NP-SBJ ( NNS Sales ) ) ( VP ( VBD were ) ( ADJP-PRD ( JJ flat ) ) ( PP-LOC ( IN at ) ( NP ( QP ( CD 7.88 ) ( CD billion ) ) ) ) ) )

Sales were flat at 7.88 billion


( S ( NP-SBJ ( DT The ) ( NNS results ) ) ( VP ( VBP include ) ( NP ( NP ( JJ record ) ( JJ quarterly ) ( NNS earnings ) ) ( PP ( IN of ) ( NP ( QP ( CD 76 ) ( CD million ) ) ) ) ( PP ( IN from ) ( NP ( NNP Chrysler ) ( NNP Financial ) ( NNP Corp ) ) ) ) ) )

The results include record quarterly earnings of 76 million from Chrysler Financial Corp


( S ( ADVP-TMP ( NP ( DT A ) ( NN year ) ) ( RBR earlier ) ) ( NP-SBJ ( NP ( NNP Chrysler ) ( POS 's ) ) ( NN net ) ) ( VP ( VBD was ) ( NP-PRD ( NP ( QP ( CD 113 ) ( CD million ) ) ) ( CC or ) ( NP ( NP ( CD 50 ) ( NNS cents ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ) )

A year earlier Chrysler 's net was 113 million or 50 cents a share


( S ( NP-SBJ ( NNP Mr. ) ( NNP Miller ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( NP ( NNS costs ) ) ( PP ( IN of ) ( NP ( NNS incentives ) ) ) ) ( VP ( VBD caused ) ( NP ( NP ( DT a ) ( JJ moderate ) ( NN loss ) ) ( PP-LOC ( IN in ) ( NP ( NP ( DT the ) ( NAC-LOC ( NNP Highland ) ( NNP Park ) ( NNP Mich. ) ) ( NN company ) ( POS 's ) ) ( ADJP ( JJ North ) ( JJ American ) ) ( NN car ) ( CC and ) ( NN truck ) ( NN business ) ) ) ) ) ) ) ) )

Mr. Miller said costs of incentives caused a moderate loss in the Highland Park Mich. company 's North American car and truck business


( S ( S ( NP-SBJ ( PRP He ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( DT the ) ( NN loss ) ) ( VP ( VBD was ) ( RB n't ) ( ADJP-PRD ( ADVP ( RB that ) ( RB much ) ) ( JJ different ) ( PP ( IN from ) ( NP ( NP ( NP ( NNP Ford ) ( POS 's ) ) ( ADJP ( QP ( CD 37 ) ( CD million ) ) ) ( NN loss ) ) ( PP ( IN on ) ( NP ( NNP U.S. ) ( JJ automotive ) ( NNS operations ) ) ) ) ) ) ) ) ) ) ) ( CC but ) ( S ( NP-SBJ-1 ( PRP he ) ) ( VP ( VBD declined ) ( S ( VP ( TO to ) ( VP ( VB be ) ( ADJP-PRD ( JJ specific ) ) ) ) ) ) ) )

He said the loss was n't that much different from Ford 's 37 million loss on U.S. automotive operations but he declined to be specific


( S ( NP-SBJ ( NNP Mr. ) ( NNP Miller ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( NNP Chrysler ) ) ( VP ( VBD spent ) ( NP ( NP ( DT an ) ( NN average ) ) ( PP ( IN of ) ( NP ( CD 1,000 ) ) ) ( NP-ADV ( DT a ) ( NN vehicle ) ) ) ( PP-CLR ( IN on ) ( NP ( PRP$ its ) ( NN incentive ) ( NNS programs ) ) ) ( PP-TMP ( IN in ) ( NP ( DT the ) ( JJ third ) ( NN quarter ) ) ) ( PP ( VBN compared ) ( PP ( IN with ) ( NP ( NP ( NP ( NP ( QP ( RB about ) ( CD 450 ) ) ) ( NP-ADV ( DT a ) ( NN vehicle ) ) ) ( ADVP-TMP ( NP ( DT a ) ( NN year ) ) ( RBR earlier ) ) ) ( NP ( NP ( DT a ) ( JJ high-water ) ( NN mark ) ) ( PP-TMP ( IN at ) ( NP ( DT the ) ( NN time ) ) ) ) ) ) ) ) ) ) ) )

Mr. Miller said Chrysler spent an average of 1,000 a vehicle on its incentive programs in the third quarter compared with about 450 a vehicle a year earlier a high-water mark at the time


( S ( NP-SBJ ( PRP He ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( NNP Chrysler ) ) ( VP ( VBZ is ) ( ADVP-TMP ( DT no ) ( RBR longer ) ) ( ADJP-PRD ( JJ sure ) ( PP ( IN of ) ( NP ( NP ( PRP$ its ) ( NN forecast ) ) ( PP ( IN for ) ( NP ( NP ( NN industry ) ( NN car ) ( CC and ) ( NN truck ) ( NNS sales ) ) ( PP ( IN of ) ( NP ( QP ( CD 14.2 ) ( CD million ) ) ) ) ( PP-TMP ( IN in ) ( NP ( DT the ) ( CD 1990 ) ( NN model ) ( NN year ) ) ) ) ) ) ) ) ) ) ) ) )

He said Chrysler is no longer sure of its forecast for industry car and truck sales of 14.2 million in the 1990 model year


( S-1 ( NP-SBJ-2 ( NNS Consumers ) ) ( PRN ( S ( NP-SBJ ( PRP he ) ) ( VP ( VBD said ) ) ) ) ( VP ( VBP are ) ( VP ( VBG balking ) ( PP-CLR ( IN at ) ( NP ( NP ( JJR higher ) ( NNS prices ) ) ( PP ( IN on ) ( NP ( CD 1990 ) ( NNS cars ) ) ) ) ) ( PP-TMP ( ADVP ( RB especially ) ) ( IN after ) ( S-NOM ( VP ( VBG seeing ) ( NP ( NP ( DT the ) ( JJ incentive-reduced ) ( NNS prices ) ) ( PP ( IN on ) ( NP ( CD 1989 ) ( NNS models ) ) ) ) ) ) ) ) ) )

Consumers he said are balking at higher prices on 1990 cars especially after seeing the incentive-reduced prices on 1989 models


( S ( PP-TMP ( IN In ) ( NP ( DT the ) ( CD nine ) ( NNS months ) ) ) ( NP-SBJ ( NN net ) ) ( VP ( VBD was ) ( NP-PRD ( NP ( QP ( CD 1.02 ) ( CD billion ) ) ) ( CC or ) ( NP ( NP ( CD 4.38 ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ( PP ( VBG including ) ( NP ( NP ( DT the ) ( NN gain ) ) ( PP ( IN from ) ( NP ( DT the ) ( NNP Mitsubishi ) ( NN stock ) ( NN sale ) ) ) ) ) ( PP ( VBN compared ) ( PP ( IN with ) ( NP ( NP ( QP ( CD 617 ) ( CD million ) ) ) ( CC or ) ( NP ( NP ( CD 2.77 ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ) ) ( PP ( IN after ) ( NP ( NP ( DT a ) ( NN charge ) ) ( PP ( IN of ) ( NP ( NP ( QP ( CD 93 ) ( CD million ) ) ) ( CC or ) ( NP ( NP ( CD 42 ) ( NNS cents ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ) ( PP ( IN for ) ( NP ( NP ( NN plant ) ( NNS closings ) ) ( PP-TMP ( IN in ) ( NP ( DT the ) ( CD 1988 ) ( NN period ) ) ) ) ) ) ) ) )

In the nine months net was 1.02 billion or 4.38 a share including the gain from the Mitsubishi stock sale compared with 617 million or 2.77 a share after a charge of 93 million or 42 cents a share for plant closings in the 1988 period


( S ( NP-SBJ ( NNS Sales ) ) ( VP ( VBD rose ) ( NP-EXT ( CD 8.4 ) ( NN % ) ) ( PP-DIR ( TO to ) ( NP ( QP ( CD 27.95 ) ( CD billion ) ) ) ) ( PP-DIR ( IN from ) ( NP ( QP ( CD 25.78 ) ( CD billion ) ) ) ) ) )

Sales rose 8.4 % to 27.95 billion from 25.78 billion


( S ( NP-SBJ ( NP ( JJ Heavy ) ( NNS losses ) ) ( PP-LOC ( IN in ) ( NP ( ADJP ( JJ North ) ( JJ American ) ) ( NN auto ) ( NNS operations ) ) ) ) ( VP ( VBD sent ) ( S ( NP-SBJ ( NP ( NNP GM ) ( POS 's ) ) ( NN net ) ) ( VP ( VBG tumbling ) ( PP-DIR ( TO to ) ( NP ( QP ( CD 516.9 ) ( CD million ) ) ) ) ( PP-DIR ( IN from ) ( NP ( DT a ) ( NN record ) ( QP ( CD 859.2 ) ( CD million ) ) ) ) ) ) ) )

Heavy losses in North American auto operations sent GM 's net tumbling to 516.9 million from a record 859.2 million


( S ( NP-SBJ ( JJ Detroit-based ) ( NNP GM ) ) ( VP ( VBZ does ) ( RB n't ) ( VP ( VB issue ) ( NP ( NP ( JJ separate ) ( JJ quarterly ) ( NNS earnings ) ) ( PP ( IN for ) ( NP ( DT the ) ( ADJP ( JJ North ) ( JJ American ) ) ( JJ automotive ) ( NN business ) ) ) ) ) ) )

Detroit-based GM does n't issue separate quarterly earnings for the North American automotive business


( S ( CC But ) ( NP-SBJ ( NNS analysts ) ) ( VP ( VBD estimated ) ( SBAR ( IN that ) ( S ( NP-SBJ ( NNP GM ) ) ( VP ( VBD had ) ( NP ( NP ( DT a ) ( NN loss ) ) ( PP ( IN of ) ( NP ( QP ( RB as ) ( JJ much ) ( IN as ) ( CD 300 ) ( CD million ) ) ) ) ( PP ( IN on ) ( NP ( JJ domestic ) ( NN vehicle ) ( NNS operations ) ) ) ) ) ) ) ) )

But analysts estimated that GM had a loss of as much as 300 million on domestic vehicle operations


( S ( S-TPC-1 ( S ( NP-SBJ ( NP ( DT An ) ( ADJP ( CD 8.5 ) ( NN % ) ) ( NN drop ) ) ( PP-LOC ( IN in ) ( NP ( NP ( ADJP ( JJ North ) ( JJ American ) ) ( NN factory ) ( NNS sales ) ) ( PP ( IN of ) ( NP ( NNS cars ) ( CC and ) ( NNS trucks ) ) ) ) ) ) ( VP ( VBD cut ) ( PP-CLR ( IN into ) ( NP ( NN revenue ) ) ) ) ) ( CC and ) ( S ( NP-SBJ ( NP ( NNS rebates ) ) ( PP ( TO to ) ( NP ( NNS dealers ) ( CC and ) ( NNS customers ) ) ) ) ( ADVP ( RBR more ) ( IN than ) ) ( VP ( VBP offset ) ( NP ( NP ( NNS gains ) ) ( PP ( IN from ) ( NP ( NP ( NN price ) ( NNS increases ) ) ( PP ( IN on ) ( NP ( NP ( CD 1990 ) ( NN model ) ( NNS vehicles ) ) ( VP ( VBN delivered ) ( PP-TMP ( IN during ) ( NP ( DT the ) ( NN period ) ) ) ) ) ) ) ) ) ) ) ) ( NP-SBJ ( DT a ) ( NNP GM ) ( NN spokesman ) ) ( VP ( VBD said ) ) )

An 8.5 % drop in North American factory sales of cars and trucks cut into revenue and rebates to dealers and customers more than offset gains from price increases on 1990 model vehicles delivered during the period a GM spokesman said


( S ( CC But ) ( NP-SBJ ( NP ( NNP GM ) ( POS 's ) ) ( NNS results ) ) ( ADVP ( RB also ) ) ( VP ( VBP illustrate ) ( NP ( NP ( DT the ) ( VBG increasing ) ( NN diversity ) ) ( PP ( IN of ) ( NP ( PRP$ its ) ( NNS operations ) ) ) ) ) )

But GM 's results also illustrate the increasing diversity of its operations


( S ( PP-LOC ( IN In ) ( NP ( CD one ) ( NN breakdown ) ) ) ( NP-SBJ ( NNP GM ) ) ( VP ( VBD attributed ) ( NP ( NP ( NN half ) ) ( PP ( IN of ) ( NP ( PRP$ its ) ( NN net ) ) ) ) ( PP-CLR ( TO to ) ( NP ( NP ( PRP$ its ) ( CD two ) ( JJ big ) ( NN technology ) ( NNS units ) ) ( NP ( NP ( NNP Electronic ) ( NNP Data ) ( NNP Systems ) ( NNP Corp. ) ) ( CC and ) ( NP ( NNP GM ) ( NNP Hughes ) ( NNP Electronics ) ( NNP Corp ) ) ) ) ) ) )

In one breakdown GM attributed half of its net to its two big technology units Electronic Data Systems Corp. and GM Hughes Electronics Corp


( S ( ADVP-TMP ( RB Meanwhile ) ) ( NP-SBJ ( NNP GM ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( JJ overseas ) ( NN auto ) ( NNS operations ) ) ( VP ( VBP are ) ( PP-PRD ( IN on ) ( NP ( NP ( NN track ) ) ( SBAR ( S ( VP ( TO to ) ( VP ( VB exceed ) ( NP ( NP ( NP ( JJ last ) ( NN year ) ( POS 's ) ) ( JJ record ) ( JJ full-year ) ( NN net ) ) ( PP ( IN of ) ( NP ( QP ( CD 2.7 ) ( CD billion ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Meanwhile GM said overseas auto operations are on track to exceed last year 's record full-year net of 2.7 billion


( S ( NP-SBJ ( DT The ) ( JJ diversified ) ( NNS operations ) ) ( VP ( VBD helped ) ( S ( NP-SBJ ( NNP GM ) ) ( VP ( VP ( VB build ) ( NP ( NP ( PRP$ its ) ( NN cash ) ( NNS reserves ) ) ( ADJP ( JJ exclusive ) ( PP ( IN of ) ( NP ( PRP$ its ) ( JJ financial ) ( NN subsidiary ) ) ) ) ) ( PP-DIR ( TO to ) ( NP ( QP ( CD 5.5 ) ( CD billion ) ) ) ( PP-TMP ( IN as ) ( PP ( IN of ) ( NP ( NNP Sept. ) ( CD 30 ) ) ) ) ) ) ( NP ( NP ( DT a ) ( ADJP ( CD 22 ) ( NN % ) ) ( NN increase ) ) ( PP ( IN from ) ( ADVP-TMP ( NP ( DT a ) ( NN year ) ) ( RBR earlier ) ) ) ) ) ) ) )

The diversified operations helped GM build its cash reserves exclusive of its financial subsidiary to 5.5 billion as of Sept. 30 a 22 % increase from a year earlier


( S ( NP-SBJ ( DT This ) ( NN cushion ) ) ( VP ( MD could ) ( VP ( VB come ) ( PP-CLR ( IN in ) ( ADJP ( JJ handy ) ) ) ( SBAR-ADV ( IN if ) ( S ( NP-SBJ-1 ( NNP GM ) ) ( VP ( VBZ has ) ( S ( VP ( TO to ) ( VP ( VB trim ) ( NP ( JJ fourth-quarter ) ( ADJP ( JJ North ) ( JJ American ) ) ( NN production ) ( NNS schedules ) ) ( ADVP ( ADVP ( RBR more ) ) ( PP ( IN than ) ( NP ( DT the ) ( ADJP ( RB already ) ( VBN scheduled ) ) ( CD 9.5 ) ( NN % ) ) ) ) ) ) ) ) ) ) ) ) )

This cushion could come in handy if GM has to trim fourth-quarter North American production schedules more than the already scheduled 9.5 %


( S ( S-TPC-2 ( PP-LOC ( IN Under ) ( NP ( DT the ) ( NNS circumstances ) ) ) ( NP-SBJ ( NP ( PRP it ) ) ) ( VP ( MD wo ) ( RB n't ) ( VP ( VB be ) ( ADJP-PRD ( JJ easy ) ) ( SBAR-1 ( IN for ) ( S ( NP-SBJ ( NNP GM ) ) ( VP ( TO to ) ( VP ( VB exceed ) ( NP ( NP ( PRP$ its ) ( JJ record ) ( CD 1988 ) ( JJ fourth-quarter ) ( NN net ) ) ( PP ( IN of ) ( NP ( QP ( CD 1.4 ) ( CD billion ) ) ) ) ) ) ) ) ) ) ) ) ( NP-SBJ ( DT the ) ( NN spokesman ) ) ( VP ( VBD acknowledged ) ) )

Under the circumstances it wo n't be easy for GM to exceed its record 1988 fourth-quarter net of 1.4 billion the spokesman acknowledged


( S ( NP-SBJ ( DT That ) ) ( VP ( VBZ means ) ( SBAR ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBZ 's ) ( ADJP-PRD ( JJ unlikely ) ( SBAR ( S ( NP-SBJ ( DT the ) ( NN company ) ) ( VP ( MD will ) ( VP ( VB surpass ) ( NP ( NP ( JJ last ) ( NN year ) ( POS 's ) ) ( ADJP ( QP ( CD 4.9 ) ( CD billion ) ) ) ( JJ full-year ) ( NN profit ) ) ) ) ) ) ) ( SBAR-ADV ( RB even ) ( IN though ) ( S ( NP-SBJ ( NP ( NN net ) ) ( PP ( IN for ) ( NP ( DT the ) ( JJ first ) ( CD nine ) ( NNS months ) ) ) ) ( VP ( VBD was ) ( ADVP-PRD ( RB up ) ( NP ( CD 1.9 ) ( NN % ) ) ( PP ( TO to ) ( NP ( QP ( CD 3.52 ) ( CD billion ) ) ) ) ) ( PP ( IN on ) ( NP ( NP ( NN revenue ) ) ( PP ( IN of ) ( NP ( QP ( CD 95.57 ) ( CD billion ) ) ) ) ) ) ) ) ) ) ) ) ) )

That means it 's unlikely the company will surpass last year 's 4.9 billion full-year profit even though net for the first nine months was up 1.9 % to 3.52 billion on revenue of 95.57 billion


( S ( NP-SBJ ( PRP It ) ) ( VP ( VBD earned ) ( NP ( QP ( CD 3.46 ) ( CD billion ) ) ) ( PP ( IN on ) ( NP ( NP ( NN revenue ) ) ( PP ( IN of ) ( NP ( QP ( CD 91.21 ) ( CD billion ) ) ) ) ) ) ( PP-TMP ( IN in ) ( NP ( DT the ) ( CD 1988 ) ( CD nine ) ( NNS months ) ) ) ) )

It earned 3.46 billion on revenue of 91.21 billion in the 1988 nine months


( S ( NP-SBJ ( NNP BLOCKBUSTER ) ( NNP ENTERTAINMENT ) ( NNP CORP. ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBD raised ) ( NP ( QP ( CD 92 ) ( CD million ) ) ) ( PP-CLR ( IN from ) ( NP ( NP ( DT an ) ( NN offering ) ) ( PP ( IN of ) ( NP ( JJ liquid ) ( NN yield ) ( NN option ) ( NNS notes ) ) ) ) ) ) ) ) ) )

BLOCKBUSTER ENTERTAINMENT CORP. said it raised 92 million from an offering of liquid yield option notes


( S ( S-TPC-3 ( NP-SBJ-2 ( NP ( DT The ) ( JJ gross ) ( NNS proceeds ) ) ( PP ( IN from ) ( NP ( NP ( DT the ) ( NN sale ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( NNS notes ) ) ( SBAR ( WHNP-1 ( WDT which ) ) ( S ( VP ( MD will ) ( VP ( VB be ) ( ADJP-PRD ( JJ due ) ( PP-TMP ( IN on ) ( NP ( NNP Nov. ) ( CD 1 ) ( CD 2004 ) ) ) ) ) ) ) ) ) ) ) ) ) ( VP ( MD will ) ( VP ( VB be ) ( VP ( VBN used ) ( UCP-CLR ( S ( VP ( TO to ) ( VP ( VB reduce ) ( NP ( VBG existing ) ( NN debt ) ) ) ) ) ( CC and ) ( PP ( IN for ) ( NP ( JJ general ) ( JJ corporate ) ( NNS purposes ) ) ) ) ) ) ) ) ( NP-SBJ ( DT the ) ( NN company ) ) ( VP ( VBD said ) ) )

The gross proceeds from the sale of the notes which will be due on Nov. 1 2004 will be used to reduce existing debt and for general corporate purposes the company said


( S ( NP-SBJ-1 ( DT The ) ( NN debt ) ( NN reduction ) ) ( VP ( VBZ is ) ( VP ( VBN expected ) ( S ( VP ( TO to ) ( VP ( VB save ) ( NP ( DT the ) ( NAC-LOC ( NNP Fort ) ( NNP Lauderdale ) ( NNP Fla. ) ) ( NN home ) ( NN video ) ( NN concern ) ) ( NP ( NP ( QP ( RB about ) ( CD 2 ) ( CD million ) ) ) ( NP-ADV ( DT a ) ( NN year ) ) ( PP ( IN in ) ( NP ( NN interest ) ( NN expense ) ) ) ) ) ) ) ) ) )

The debt reduction is expected to save the Fort Lauderdale Fla. home video concern about 2 million a year in interest expense


( S ( NP-SBJ ( DT The ) ( JJ zero-coupon ) ( JJ subordinated ) ( NNS notes ) ) ( VP ( VBP have ) ( NP ( DT no ) ( JJ periodic ) ( NN interest ) ( NNS payments ) ) ) )

The zero-coupon subordinated notes have no periodic interest payments


( S ( NP-SBJ-1 ( DT Each ) ( NN note ) ) ( VP ( VBZ is ) ( VP ( VBG being ) ( VP ( VBN offered ) ( PP-CLR ( IN at ) ( NP ( NP ( CD 308.32 ) ) ( PP ( IN per ) ( NP ( ADJP ( CD 1,000 ) ) ( NN principal ) ( NN amount ) ) ) ( PP ( IN at ) ( NP ( NN maturity ) ) ) ) ) ( S-ADV ( VP ( VBG representing ) ( NP ( NP ( DT an ) ( CD 8 ) ( NN % ) ( NN yield ) ) ( PP ( TO to ) ( NP ( NN maturity ) ) ) ) ) ) ) ) ) )

Each note is being offered at 308.32 per 1,000 principal amount at maturity representing an 8 % yield to maturity


( S ( PP ( IN In ) ( NP ( NN addition ) ) ) ( NP-SBJ-1 ( DT each ) ( NN note ) ) ( VP ( MD can ) ( VP ( VB be ) ( VP ( VBN converted ) ( PP-CLR ( IN into ) ( NP ( NNP Blockbuster ) ( NNP Entertainment ) ( JJ common ) ( NN stock ) ) ) ( PP-CLR ( IN at ) ( NP ( NP ( DT a ) ( NN rate ) ) ( PP ( IN of ) ( NP ( NP ( CD 13.851 ) ( NNS shares ) ) ( PP ( IN per ) ( NP ( NN note ) ) ) ) ) ) ) ) ) ) )

In addition each note can be converted into Blockbuster Entertainment common stock at a rate of 13.851 shares per note


( S ( NP-SBJ ( NNP Merrill ) ( NNP Lynch ) ( NNP Capital ) ( NNP Markets ) ( NNP Inc. ) ) ( VP ( VBZ is ) ( NP-PRD ( NP ( DT the ) ( JJ sole ) ( NN underwriter ) ) ( PP ( IN for ) ( NP ( DT the ) ( NN offering ) ) ) ) ) )

Merrill Lynch Capital Markets Inc. is the sole underwriter for the offering


( S ( NP-SBJ ( DT The ) ( NNS notes ) ) ( VP ( MD will ) ( VP ( VB have ) ( NP ( NP ( DT a ) ( NN principal ) ( NN amount ) ) ( PP ( IN of ) ( NP ( QP ( CD 300 ) ( CD million ) ) ) ) ) ( PP-TMP ( IN at ) ( NP ( NN maturity ) ) ) ) ) )

The notes will have a principal amount of 300 million at maturity


( S ( NP-SBJ ( NNP Blockbuster ) ( NNS shares ) ) ( VP ( VBD closed ) ( NP-TMP ( NN yesterday ) ) ( PP-CLR ( IN at ) ( NP ( CD 18.75 ) ) ) ( ADVP ( IN down ) ( NP ( CD 1.125 ) ) ) ( PP-LOC ( IN in ) ( NP ( NNP New ) ( NNP York ) ( NNP Stock ) ( NNP Exchange ) ( NN trading ) ) ) ) )

Blockbuster shares closed yesterday at 18.75 down 1.125 in New York Stock Exchange trading


( SBAR-HLN ( WHNP-1 ( WP WHO ) ) ( S ( VP ( VBZ 'S ) ( NP-PRD ( NN NEWS ) ) ) ) )

WHO 'S NEWS


( S ( NP-SBJ ( NNP Arthur ) ( NNP Price ) ) ( VP ( VBD resigned ) ( PP-CLR ( IN as ) ( NP ( NP ( NP ( NN president ) ) ( CC and ) ( NP ( JJ chief ) ( JJ executive ) ( NN officer ) ) ) ( PP ( IN of ) ( NP ( NP ( NNP MTM ) ( NNP Enterprises ) ( NNP Inc. ) ) ( NP ( DT a ) ( NAC-LOC ( NNP Studio-City ) ( NNP Calif. ) ) ( NN entertainment ) ( NN concern ) ) ) ) ) ) ) )

Arthur Price resigned as president and chief executive officer of MTM Enterprises Inc. a Studio-City Calif. entertainment concern


( S ( NP-SBJ ( PRP He ) ) ( VP ( VBD co-founded ) ( NP ( DT the ) ( NN company ) ) ( PP ( IN with ) ( NP ( NP ( NNP Grant ) ( NNP Tinker ) ) ( CC and ) ( NP ( NNP Mary ) ( NNP Tyler ) ( NNP Moore ) ) ) ) ( PP-TMP ( IN in ) ( NP ( CD 1969 ) ) ) ) )

He co-founded the company with Grant Tinker and Mary Tyler Moore in 1969


( S ( NP-SBJ ( NNP MTM ) ) ( VP ( VBZ is ) ( NP-PRD ( NP ( DT a ) ( NN unit ) ) ( PP ( IN of ) ( NP ( NP ( JJ British-based ) ( NNP TVS ) ( NNP Entertainment ) ( NNP PLC ) ) ( SBAR ( WHNP-1 ( WHNP ( WP$ whose ) ( JJ chief ) ( JJ executive ) ( NN officer ) ) ( NP ( NNP James ) ( NNP Gatward ) ) ) ( S ( VP ( MD will ) ( VP ( VB oversee ) ( NP ( DT the ) ( NN company ) ) ( SBAR-TMP ( IN until ) ( S ( NP-SBJ-2 ( DT a ) ( NN successor ) ) ( VP ( VBZ is ) ( VP ( VBN named ) ) ) ) ) ) ) ) ) ) ) ) ) )

MTM is a unit of British-based TVS Entertainment PLC whose chief executive officer James Gatward will oversee the company until a successor is named


( S ( PP ( IN In ) ( NP ( NP ( NN search ) ) ( PP ( IN of ) ( NP ( NP ( NNS buyers ) ) ( PP ( IN for ) ( NP ( NP ( JJ upscale ) ( NN department-store ) ( NNS chains ) ) ( PP ( JJ such ) ( IN as ) ( NP ( NP ( NNP Bloomingdale ) ( POS 's ) ) ( CC and ) ( NP ( NNP Saks ) ( NNP Fifth ) ( NNP Avenue ) ) ) ) ) ) ) ) ) ) ( NP-SBJ ( NN investment ) ( NNS bankers ) ) ( VP ( VBP are ) ( VP ( VBG turning ) ( PP ( TO to ) ( PRN ( FRAG ( WP who ) ( RB else ) ) ) ( NP ( DT The ) ( NNPS Japanese ) ) ) ) ) )

In search of buyers for upscale department-store chains such as Bloomingdale 's and Saks Fifth Avenue investment bankers are turning to who else The Japanese


( S ( CC But ) ( ADVP-TMP ( IN so ) ( RB far ) ) ( NP-SBJ-1 ( NP ( NNP Japan ) ( POS 's ) ) ( JJ cash-rich ) ( NNS retailers ) ) ( VP ( VBP are ) ( VP ( VBG proving ) ( S ( VP ( TO to ) ( VP ( VB be ) ( NP-PRD ( JJ cautious ) ( NNS shoppers ) ) ) ) ) ) ) )

But so far Japan 's cash-rich retailers are proving to be cautious shoppers


( S ( NP-SBJ ( PRP We ) ) ( VP ( VBP have ) ( NP ( NP ( DT the ) ( NN money ) ) ( SBAR ( S ( VP ( TO to ) ( VP ( VB buy ) ) ) ) ) ) ) )

We have the money to buy


( SINV ( S-TPC-1 ( CC But ) ( S-NOM-SBJ ( VP ( VBG operating ) ( NP ( DT a ) ( NNP U.S. ) ( NN department-store ) ( NN chain ) ) ) ) ( VP ( MD would ) ( VP ( VB be ) ( ADJP-PRD ( RB very ) ( JJ difficult ) ) ) ) ) ( VP ( VBZ says ) ) ( NP-SBJ ( NP ( NNP Motoyuki ) ( NNP Homma ) ) ( NP ( NP ( NN managing ) ( NN director ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( JJ international ) ( NN division ) ) ( PP-LOC ( IN at ) ( NP ( NP ( NNP Mitsukoshi ) ( NNP Ltd. ) ) ( NP ( NP ( CD one ) ) ( PP ( IN of ) ( NP ( NP ( NNP Japan ) ( POS 's ) ) ( JJ leading ) ( NN department ) ( NNS stores ) ) ) ) ) ) ) ) ) ) )

But operating a U.S. department-store chain would be very difficult says Motoyuki Homma managing director of the international division at Mitsukoshi Ltd. one of Japan 's leading department stores


( S ( NP-SBJ ( JJ Japanese ) ( JJ retail ) ( NNS executives ) ) ( VP ( VBP say ) ( S ( NP-SBJ ( NP ( DT the ) ( JJ main ) ( NN reason ) ) ( SBAR ( S ( NP-SBJ-1 ( PRP they ) ) ( VP ( VBP are ) ( ADJP-PRD ( JJ reluctant ) ( S ( VP ( TO to ) ( VP ( VB jump ) ( PP-DIR ( IN into ) ( NP ( DT the ) ( NN fray ) ) ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( NNP U.S. ) ) ) ) ) ) ) ) ) ) ) ( VP ( VBZ is ) ( SBAR-PRD ( DT that ) ( S ( PRN ( PP ( IN unlike ) ( NP ( NN manufacturing ) ) ) ) ( NP-SBJ ( NN retailing ) ) ( VP ( VBZ is ) ( ADJP-PRD ( RB extremely ) ( JJ sensitive ) ( PP ( TO to ) ( NP ( JJ local ) ( NNS cultures ) ( CC and ) ( NN life ) ( NNS styles ) ) ) ) ) ) ) ) ) ) )

Japanese retail executives say the main reason they are reluctant to jump into the fray in the U.S. is that unlike manufacturing retailing is extremely sensitive to local cultures and life styles


( S ( S ( NP-SBJ ( DT The ) ( NNPS Japanese ) ) ( VP ( VBP have ) ( VP ( VBN watched ) ( S ( NP-SBJ ( DT the ) ( NNPS Europeans ) ( CC and ) ( NNPS Canadians ) ) ( VP ( VB stumble ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( NNP U.S. ) ( NN market ) ) ) ) ) ) ) ) ( CC and ) ( S ( NP-SBJ ( PRP they ) ) ( VP ( VBP fret ) ( SBAR ( IN that ) ( S ( NP-SBJ ( NP ( NN business ) ( NNS practices ) ) ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( VP ( VBP have ) ( VP ( VBN won ) ( NP ( PRP them ) ) ( NP ( JJ huge ) ( NNS profits ) ) ( PP-LOC ( IN at ) ( NP ( NN home ) ) ) ) ) ) ) ) ( VP ( MD wo ) ( RB n't ) ( VP ( VB translate ) ( PP-CLR ( IN into ) ( NP ( NP ( NN success ) ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( NNP U.S. ) ) ) ) ) ) ) ) ) ) ) )

The Japanese have watched the Europeans and Canadians stumble in the U.S. market and they fret that business practices that have won them huge profits at home wo n't translate into success in the U.S.


( S ( NP-SBJ-1 ( JJ Japanese ) ( NN department ) ( NNS stores ) ) ( VP ( VBP are ) ( ADVP ( RB also ) ) ( ADJP-PRD ( JJ wary ) ( PP ( IN of ) ( S-NOM ( VP ( VBG attracting ) ( NP ( JJ negative ) ( NN publicity ) ) ) ) ) ) ) )

Japanese department stores are also wary of attracting negative publicity


( S ( PP-TMP ( IN After ) ( NP ( NP ( NP ( NNP Sony ) ( NNP Corp. ) ( POS 's ) ) ( JJ recent ) ( JJ headline-grabbing ) ( NN acquisition ) ) ( PP ( IN of ) ( NP ( NNP Columbia ) ( NNP Pictures ) ) ) ) ) ( NP-SBJ ( JJ many ) ) ( VP ( VBP say ) ( SBAR ( S ( NP-SBJ ( NP ( PRP it ) ) ) ( VP ( VBZ makes ) ( NP ( JJ good ) ( JJ political ) ( NN sense ) ) ( S-1 ( VP ( TO to ) ( VP ( VB lie ) ( ADVP-CLR ( JJ low ) ) ) ) ) ) ) ) ) )

After Sony Corp. 's recent headline-grabbing acquisition of Columbia Pictures many say it makes good political sense to lie low


( SINV ( S-TPC-1 ( NP-SBJ ( PRP It ) ) ( VP ( VBZ 's ) ( NP-PRD ( NP ( DT a ) ( NN question ) ) ( PP ( IN of ) ( NP ( NN timing ) ) ) ) ) ) ( VP ( VBZ says ) ) ( NP-SBJ ( NP ( NNP Mayumi ) ( NNP Takayama ) ) ( NP ( NP ( NN managing ) ( NN director ) ) ( PP ( IN of ) ( NP ( JJ international ) ( NNS operations ) ) ) ( PP-LOC ( IN at ) ( NP ( NP ( NNP Isetan ) ( NNP Co. ) ) ( NP ( DT a ) ( NNP Tokyo ) ( NN department ) ( NN store ) ) ) ) ) ) )

It 's a question of timing says Mayumi Takayama managing director of international operations at Isetan Co. a Tokyo department store


( S ( ADVP ( RB Still ) ) ( PP ( IN for ) ( NP ( NP ( DT those ) ) ( PP ( IN with ) ( NP ( NP ( DT a ) ( JJ long-term ) ( NN eye ) ) ( PP ( IN on ) ( NP ( DT the ) ( JJ vast ) ( NNP U.S. ) ( JJ retail ) ( NN market ) ) ) ) ) ) ) ( NP-SBJ ( DT this ) ) ( VP ( VBZ is ) ( NP-PRD ( NP ( DT a ) ( JJ tempting ) ( NN time ) ) ( SBAR ( S ( VP ( TO to ) ( VP ( VB look ) ( PP-CLR ( IN for ) ( NP ( NNS bargains ) ) ) ) ) ) ) ) ) )

Still for those with a long-term eye on the vast U.S. retail market this is a tempting time to look for bargains


( S ( NP-SBJ-1 ( NP ( NNP Britain ) ( POS 's ) ) ( NNP B.A.T ) ( NNP Industries ) ( NNP PLC ) ) ( VP ( VBZ is ) ( VP ( VBG trying ) ( S ( VP ( TO to ) ( VP ( VB unwind ) ( NP ( NP ( PRP$ its ) ( NNP U.S. ) ( NN retailing ) ( NNS operations ) ) ( SBAR ( WHNP-2 ( WDT which ) ) ( S ( VP ( VBP include ) ( NP ( NP ( JJ such ) ( JJ well-known ) ( NNS stores ) ) ( PP ( IN as ) ( NP ( NP ( NNP Saks ) ( NNP Fifth ) ( NNP Avenue ) ) ( NP ( NNP Marshall ) ( NNP Field ) ( POS 's ) ) ( NP ( NNP Breuners ) ) ( CC and ) ( NP ( NNP Ivey ) ( POS 's ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Britain 's B.A.T Industries PLC is trying to unwind its U.S. retailing operations which include such well-known stores as Saks Fifth Avenue Marshall Field 's Breuners and Ivey 's


( S ( CC And ) ( NP-SBJ ( NP ( JJ debt-ridden ) ( NNP Campeau ) ( NNP Corp. ) ) ( PP ( IN of ) ( NP ( NNP Toronto ) ) ) ) ( VP ( VBZ is ) ( VP ( VBG giving ) ( PRT ( RP up ) ) ( NP ( DT the ) ( JJ 17-store ) ( NP ( NNP Bloomingdale ) ( POS 's ) ) ( NN group ) ) ) ) )

And debt-ridden Campeau Corp. of Toronto is giving up the 17-store Bloomingdale 's group


( SINV ( S-TPC-1 ( NP-SBJ ( NP ( DT Every ) ( NN department ) ( NN store ) ) ( PP-LOC ( IN in ) ( NP ( NNP Japan ) ) ) ) ( VP ( VBZ is ) ( VP ( VBG taking ) ( NP ( DT a ) ( NN look ) ) ) ) ) ( VP ( VBZ says ) ) ( NP-SBJ ( NP ( NNP Mike ) ( NNP Allen ) ) ( NP ( NP ( DT a ) ( JJ retail ) ( NN analyst ) ) ( PP-LOC ( IN at ) ( NP ( NP ( NNP Barclay ) ( POS 's ) ) ( NNP de ) ( NNP Zoete ) ( NNP Wedd ) ( NNP Securities ) ( PRN ( NP-LOC ( NNP Japan ) ) ) ( NNP Ltd ) ) ) ) ) )

Every department store in Japan is taking a look says Mike Allen a retail analyst at Barclay 's de Zoete Wedd Securities Japan Ltd


( S ( NP-SBJ ( NNP Mr. ) ( NNP Allen ) ) ( ADVP ( RB however ) ) ( VP ( VBZ does ) ( RB n't ) ( VP ( VB think ) ( SBAR ( IN that ) ( S ( NP-SBJ-1 ( NNP Japan ) ) ( VP ( VBZ is ) ( VP ( RB about ) ( S ( VP ( TO to ) ( VP ( VB embark ) ( PP-CLR ( IN on ) ( NP ( DT a ) ( JJ major ) ( NN buying ) ( NN binge ) ) ) ) ) ) ) ) ) ) ) ) )

Mr. Allen however does n't think that Japan is about to embark on a major buying binge


( S ( ADVP ( RB Nonetheless ) ) ( NP-SBJ ( NN speculation ) ) ( VP ( VBN heated ) ( PRT ( RP up ) ) ( NP-TMP ( NN yesterday ) ) ( SBAR-TMP ( WHADVP-2 ( WRB when ) ) ( S ( NP-SBJ ( NNP Tokyu ) ( NNP Department ) ( NNP Store ) ( NNP Co. ) ) ( VP ( VBD confirmed ) ( NP ( NP ( DT a ) ( NN report ) ) ( PP-LOC ( IN in ) ( NP ( NP ( NNP Nihon ) ( NNP Keizai ) ( NNP Shimbun ) ) ( NP ( NP ( NNP Japan ) ( POS 's ) ) ( JJ leading ) ( NN business ) ( NN daily ) ) ) ) ( SBAR-1 ( IN that ) ( S ( NP-SBJ ( NNP Tokyu ) ) ( VP ( VBZ is ) ( VP ( VBG talking ) ( PP-CLR ( IN with ) ( NP ( NN Campeau ) ) ) ( PP-CLR ( IN about ) ( S-NOM ( VP ( VBG buying ) ( NP ( NNP Bloomingdale ) ( POS 's ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Nonetheless speculation heated up yesterday when Tokyu Department Store Co. confirmed a report in Nihon Keizai Shimbun Japan 's leading business daily that Tokyu is talking with Campeau about buying Bloomingdale 's


( S ( NP-SBJ ( NNP Tokyu ) ) ( ADVP ( RB however ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ-1 ( DT no ) ( NN agreement ) ) ( VP ( VBD had ) ( VP ( VBN been ) ( VP ( VBN reached ) ) ) ) ) ) ) )

Tokyu however said no agreement had been reached


( SINV ( CC Nor ) ( VBZ is ) ( NP-SBJ ( NNP Tokyu ) ) ( NP-PRD ( NP ( DT the ) ( JJ only ) ( JJ Japanese ) ( NN retailer ) ) ( ADJP ( JJ interested ) ( PP ( IN in ) ( NP ( NP ( NNP Bloomingdale ) ( POS 's ) ) ( SBAR ( WHNP-1 ( WDT which ) ) ( S ( NP-SBJ ( NP ( NNS bankers ) ) ( PP-LOC ( IN in ) ( NP ( NNP Tokyo ) ) ) ) ( VP ( NN estimate ) ( SBAR ( S ( VP ( MD could ) ( VP ( VB cost ) ( NP ( QP ( IN between ) ( CD 1 ) ( CD billion ) ( CC and ) ( CD 1.5 ) ( CD billion ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Nor is Tokyu the only Japanese retailer interested in Bloomingdale 's which bankers in Tokyo estimate could cost between 1 billion and 1.5 billion


( S ( S-TPC-2 ( S ( NP-SBJ-1 ( CD Seven ) ( JJ Japanese ) ( JJ department-store ) ( NNS groups ) ) ( VP ( VBD were ) ( VP ( VBN approached ) ( PP ( IN by ) ( NP-LGS ( NP ( NN investment ) ( NNS bankers ) ) ( VP ( VBG representing ) ( NP ( NP ( NP ( NNP Bloomingdale ) ( POS 's ) ) ( NN chairman ) ) ( NP ( NNP Marvin ) ( NNP Traub ) ) ) ) ) ) ) ) ) ( CC and ) ( S ( NP-SBJ ( QP ( JJR more ) ( IN than ) ( NN half ) ) ) ( VP ( VBP are ) ( VP ( VBG seeking ) ( NP ( NP ( JJ additional ) ( NN information ) ) ( PP ( IN on ) ( NP ( DT the ) ( NN group ) ) ) ) ) ) ) ) ( NP-SBJ ( NNS bankers ) ) ( VP ( VBP say ) ) )

Seven Japanese department-store groups were approached by investment bankers representing Bloomingdale 's chairman Marvin Traub and more than half are seeking additional information on the group bankers say


( S-4 ( SBAR-NOM-SBJ ( WHNP-2 ( WP What ) ) ( S ( NP-SBJ-1 ( NNP Mr. ) ( NNP Traub ) ) ( VP ( VBZ is ) ( VP ( VBG hoping ) ( S ( VP ( TO to ) ( VP ( VB put ) ( ADVP-PUT ( RB together ) ) ) ) ) ) ) ) ) ( PRN ( S ( NP-SBJ ( NN investment ) ( NNS bankers ) ) ( VP ( VBP say ) ) ) ) ( VP ( VBZ is ) ( NP-PRD ( NP ( DT a ) ( JJ management-led ) ( NN group ) ) ( SBAR ( S ( VP ( TO to ) ( VP ( VB buy ) ( NP ( NP ( DT the ) ( NNP New ) ( NNP York ) ( NN department-store ) ( NN group ) ) ( SBAR ( WHNP-5 ( IN that ) ) ( S ( NP-SBJ ( PRP he ) ) ( VP ( VBZ heads ) ) ) ) ) ( PP-CLR ( IN from ) ( NP ( NP ( NNP Campeau ) ( POS 's ) ) ( NNP Federated ) ( NNP Department ) ( NNP Stores ) ( NN subsidiary ) ) ) ) ) ) ) ) ) )

What Mr. Traub is hoping to put together investment bankers say is a management-led group to buy the New York department-store group that he heads from Campeau 's Federated Department Stores subsidiary


( S ( NP-SBJ ( NNP Federated ) ) ( VP ( VBD ran ) ( PP-DIR ( IN into ) ( NP ( DT a ) ( NN cash ) ( NN crunch ) ) ) ( SBAR-TMP ( IN after ) ( S ( NP-SBJ-1 ( PRP it ) ) ( VP ( VBD was ) ( VP ( VBN acquired ) ( NP-TMP ( JJ last ) ( NN year ) ) ( PP ( IN by ) ( NP-LGS ( NP ( NNP Campeau ) ) ( SBAR ( WHNP-2 ( WDT which ) ) ( S ( VP ( VBD relied ) ( ADVP-MNR ( RB heavily ) ) ( PP-CLR ( IN on ) ( NP ( NN debt ) ) ) ( S-PRP ( VP ( TO to ) ( VP ( VB finance ) ( NP ( DT the ) ( NN transaction ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Federated ran into a cash crunch after it was acquired last year by Campeau which relied heavily on debt to finance the transaction


( S ( S-NOM-SBJ ( VP ( VBG Paying ) ( PRT ( RP off ) ) ( NP ( DT that ) ( NN debt ) ) ) ) ( VP ( VBD put ) ( NP ( NP ( PDT such ) ( DT a ) ( NN squeeze ) ) ) ( PP-PUT ( IN on ) ( NP ( NP ( NNP Campeau ) ) ( CC and ) ( NP ( PRP$ its ) ( NNS stores ) ) ) ) ( SBAR-2 ( IN that ) ( S ( NP-SBJ-1 ( NNP Federated ) ) ( VP ( VBD decided ) ( S ( VP ( TO to ) ( VP ( VB sell ) ( PRT ( RP off ) ) ( NP ( NP ( DT the ) ( NNS jewels ) ) ( PP ( IN of ) ( NP ( PRP$ its ) ( NN retailing ) ( NN empire ) ) ) ( PP ( VBG including ) ( NP ( NNP Bloomingdale ) ( POS 's ) ) ) ) ) ) ) ) ) ) ) )

Paying off that debt put such a squeeze on Campeau and its stores that Federated decided to sell off the jewels of its retailing empire including Bloomingdale 's


( S ( S-ADV ( VP ( VBG Hoping ) ( S ( VP ( TO to ) ( VP ( VB avoid ) ( NP ( DT another ) ( NN takeover ) ) ) ) ) ) ) ( NP-SBJ-2 ( NNP Mr. ) ( NNP Traub ) ) ( VP ( VBD retained ) ( S ( NP-SBJ ( NP ( NNP Blackstone ) ( NNP Group ) ) ( CC and ) ( NP ( NNP Drexel ) ( NNP Burnham ) ( NNP Lambert ) ( NNP Inc. ) ) ) ( VP ( TO to ) ( VP ( VB help ) ( S ( NP-SBJ ( PRP him ) ) ( VP ( VB find ) ( NP ( NP ( NNS partners ) ) ( PP ( IN for ) ( NP ( DT a ) ( JJ management-led ) ( NN buy-out ) ) ) ) ) ) ) ) ) ) )

Hoping to avoid another takeover Mr. Traub retained Blackstone Group and Drexel Burnham Lambert Inc. to help him find partners for a management-led buy-out


( S-3 ( ADVP ( RB Ideally ) ) ( PRN ( S ( NP-SBJ ( NN investment ) ( NNS bankers ) ) ( VP ( VBP say ) ) ) ) ( NP-SBJ-1 ( PRP he ) ) ( VP ( VBZ wants ) ( S ( VP ( TO to ) ( VP ( VB get ) ( NP ( NP ( NN backing ) ) ( PP ( IN from ) ( NP ( NP ( DT a ) ( JJ Japanese ) ( NN department ) ( NN store ) ) ( CC and ) ( NP ( DT a ) ( JJ European ) ( NN department ) ( NN store ) ) ) ) ( SBAR ( S ( VP ( TO to ) ( VP ( VB forge ) ( NP ( DT a ) ( JJ global ) ( NN retailing ) ( NN network ) ) ) ) ) ) ) ) ) ) ) )

Ideally investment bankers say he wants to get backing from a Japanese department store and a European department store to forge a global retailing network


( SINV ( S-TPC-5 ( SBAR-TMP ( WHADVP-1 ( WRB When ) ) ( S ( NP-SBJ ( PRP you ) ) ( VP ( VBP look ) ( PP-CLR ( IN at ) ( NP ( DT the ) ( NNS economics ) ) ) ) ) ) ( NP-SBJ-3 ( NNP Traub ) ) ( VP ( VBZ needs ) ( NP ( NP ( DT a ) ( JJ Japanese ) ) ( CC and ) ( NP ( DT a ) ( JJ European ) ) ( NX-2 ( NN partner ) ) ) ( S-PRP ( VP ( TO to ) ( VP ( VB make ) ( S ( NP-SBJ ( PRP it ) ) ( VP ( VB work ) ) ) ) ) ) ) ) ( VP ( VBZ says ) ) ( NP-SBJ ( NP ( CD one ) ( NN investment ) ( NN banker ) ) ( SBAR ( WHNP-4 ( WP who ) ) ( S ( VP ( VBZ follows ) ( NP ( DT the ) ( JJ retail ) ( NN industry ) ) ) ) ) ) )

When you look at the economics Traub needs a Japanese and a European partner to make it work says one investment banker who follows the retail industry


( S ( S-NOM-SBJ ( VP ( VBG Looking ) ( ADVP ( RB only ) ) ( PP-CLR ( IN at ) ( NP ( DT a ) ( JJ narrow ) ( JJ American ) ( NN strategy ) ) ) ) ) ( VP ( VBZ is ) ( RB n't ) ( SBAR-LOC-PRD ( WHADVP-1 ( WRB where ) ) ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBZ 's ) ( PP-LOC-PRD ( IN at ) ) ) ) ) ) )

Looking only at a narrow American strategy is n't where it 's at


( S ( S-TPC-3 ( S-NOM-SBJ-1 ( VP ( VBG Persuading ) ( NP-2 ( JJ tradition-bound ) ( JJ Japanese ) ( NNS retailers ) ) ( S ( VP ( TO to ) ( VP ( VB get ) ( ADJP-PRD ( VBN involved ) ( PP ( IN in ) ( NP ( NP ( DT the ) ( NNS turmoils ) ) ( PP ( IN of ) ( NP ( DT the ) ( NNP U.S. ) ( NN retailing ) ( NN industry ) ) ) ) ) ) ) ) ) ) ) ( VP ( VBZ is ) ( RB n't ) ( ADJP-PRD ( JJ likely ) ( S ( VP ( TO to ) ( VP ( VB be ) ( ADJP-PRD ( RB so ) ( JJ easy ) ) ) ) ) ) ) ) ( NP-SBJ ( NNS analysts ) ) ( VP ( VBP say ) ) )

Persuading tradition-bound Japanese retailers to get involved in the turmoils of the U.S. retailing industry is n't likely to be so easy analysts say


( S ( PP-TMP ( RB Up ) ( PP ( IN until ) ( ADVP ( RB now ) ) ) ) ( NP-SBJ ( JJS most ) ( NNS stores ) ) ( VP ( VBP have ) ( VP ( VBN followed ) ( NP ( DT the ) ( JJ same ) ( JJ basic ) ( JJ overseas ) ( NN strategy ) ) ) ) )

Up until now most stores have followed the same basic overseas strategy


( S ( ADVP-TMP ( RB First ) ) ( NP-SBJ ( PRP they ) ) ( VP ( VBP set ) ( PRT ( RP up ) ) ( NP ( NP ( JJ overseas ) ( NN merchandising ) ( NNS offices ) ) ( SBAR ( S ( VP ( TO to ) ( VP ( VP ( VB import ) ( NP ( NNS items ) ) ) ( CC and ) ( VP ( VB track ) ( NP ( JJ new ) ( NN fashion ) ( NNS trends ) ) ) ) ) ) ) ) ) )

First they set up overseas merchandising offices to import items and track new fashion trends


( S ( ADVP-TMP ( RB Then ) ) ( NP-SBJ ( PRP they ) ) ( VP ( VBD opened ) ( NP ( NP ( JJ small ) ( NN gift ) ( NNS shops ) ) ( VP ( ADVP ( RB mostly ) ) ( VBN aimed ) ( PP ( IN at ) ( NP ( JJ Japanese ) ( NNS tourists ) ) ) ) ) ) )

Then they opened small gift shops mostly aimed at Japanese tourists


( S ( S-ADV ( ADJP-PRD ( JJ Reluctant ) ( S ( VP ( TO to ) ( VP ( VB advance ) ( ADVP ( RBR further ) ) ( PP-MNR ( IN on ) ( NP ( PRP$ their ) ( JJ own ) ) ) ) ) ) ) ) ( NP-SBJ-2 ( DT some ) ( NNS stores ) ) ( VP ( VBP have ) ( VP ( VBN settled ) ( PP-CLR ( IN for ) ( NP ( NP ( NNS tie-ups ) ) ( PP ( IN with ) ( NP ( JJ famous ) ( NN specialty ) ( NNS shops ) ) ) ) ) ) ) )

Reluctant to advance further on their own some stores have settled for tie-ups with famous specialty shops


( S ( NP-TMP ( JJ Last ) ( NNP March ) ) ( NP-SBJ ( NNP Isetan ) ) ( VP ( VBD invested ) ( NP ( NP ( QP ( CD 1.5 ) ( CD billion ) ) ( NNS yen ) ) ( NP ( QP ( CD 10.6 ) ( CD million ) ) ) ) ( PP-CLR ( IN in ) ( NP ( NP ( DT a ) ( NN venture ) ) ( PP ( IN with ) ( NP ( NP ( NP ( NNP Barney ) ( POS 's ) ) ( NN Inc. ) ) ( NP ( DT an ) ( JJ up-scale ) ( NNP New ) ( NNP York ) ( NN specialty ) ( NN clothier ) ) ) ) ) ) ) )

Last March Isetan invested 1.5 billion yen 10.6 million in a venture with Barney 's Inc. an up-scale New York specialty clothier


( S ( NP-SBJ-1 ( DT The ) ( JJ first ) ( NP ( NNP Barney ) ( POS 's ) ) ( NN shop ) ) ( VP ( VBZ is ) ( VP ( VBN scheduled ) ( S ( VP ( TO to ) ( VP ( VB open ) ( PP-LOC ( IN in ) ( NP ( NNP Japan ) ) ) ( NP-TMP ( JJ next ) ( NN year ) ) ) ) ) ) ) )

The first Barney 's shop is scheduled to open in Japan next year


( S ( CC And ) ( NP-SBJ ( NNP Mitsukoshi ) ) ( ADVP-TMP ( RB recently ) ) ( VP ( VBD increased ) ( NP ( NP ( PRP$ its ) ( NN equity ) ( NN stake ) ) ( PP-LOC ( IN in ) ( NP ( NNP Tiffany ) ( CC & ) ( NNP Co. ) ) ) ) ( PP-DIR ( TO to ) ( NP ( CD 13 ) ( NN % ) ) ) ) )

And Mitsukoshi recently increased its equity stake in Tiffany & Co. to 13 %


( S ( PP-MNR ( IN Through ) ( NP ( NP ( DT the ) ( JJ longstanding ) ( NN relationship ) ) ( PP ( IN between ) ( NP ( DT the ) ( CD two ) ( NNS companies ) ) ) ) ) ( NP-SBJ ( NNP Mitsukoshi ) ) ( VP ( VBZ has ) ( VP ( VBN opened ) ( NP ( NP ( CD 22 ) ( NNP Tiffany ) ( NNS shops ) ) ( PP-LOC ( IN in ) ( NP ( NP ( PRP$ its ) ( NNS stores ) ( CC and ) ( NNS arcades ) ) ( PP-LOC ( IN in ) ( NP ( NNP Japan ) ) ) ) ) ) ) ) )

Through the longstanding relationship between the two companies Mitsukoshi has opened 22 Tiffany shops in its stores and arcades in Japan


( S ( S ( NP-SBJ ( NNS Plans ) ) ( VP ( VBP are ) ( PP-PRD ( IN under ) ( NP ( NN way ) ) ) ( S-2 ( VP ( TO to ) ( VP ( VB open ) ( NP ( NP ( DT a ) ( NP ( NNP Tiffany ) ( POS 's ) ) ) ( PP-LOC ( IN in ) ( NP ( NNS Hawaii ) ) ) ( SBAR ( S ( VP ( TO to ) ( VP ( VB cater ) ( PP-CLR ( TO to ) ( NP ( JJ Japanese ) ( NNS tourists ) ) ) ) ) ) ) ) ) ) ) ) ) ( S ( NP-SBJ-3 ( PRP it ) ) ( VP ( MD will ) ( VP ( VB be ) ( VP ( VBN run ) ( ADVP ( RB mostly ) ) ( PP ( IN by ) ( NP-LGS ( NNP Mitsukoshi ) ) ) ) ) ) ) )

Plans are under way to open a Tiffany 's in Hawaii to cater to Japanese tourists it will be run mostly by Mitsukoshi


( S ( NP-SBJ ( DT Some ) ( NN industry ) ( NNS observers ) ) ( VP ( VBP say ) ( SBAR ( IN that ) ( S ( NP-SBJ ( NP ( NNP Mitsukoshi ) ( POS 's ) ) ( JJ classy ) ( NN image ) ) ( VP ( VBZ makes ) ( S ( NP-SBJ ( PRP it ) ) ( NP-PRD ( NP ( DT a ) ( JJ possible ) ( NN match ) ) ( PP ( IN for ) ( NP ( NNP Saks ) ( NNP Fifth ) ( NNP Avenue ) ) ) ) ) ) ) ) ) )

Some industry observers say that Mitsukoshi 's classy image makes it a possible match for Saks Fifth Avenue


( S ( NP-SBJ ( NN Company ) ( NNS officials ) ) ( VP ( VP ( VBP say ) ( SBAR ( S ( NP-SBJ ( PRP they ) ) ( VP ( VBP are ) ( VP ( VBG studying ) ( NP ( JJ various ) ( NNS proposals ) ) ) ) ) ) ) ( CC but ) ( VP ( MD wo ) ( RB n't ) ( VP ( VB discuss ) ( NP ( NNS details ) ) ) ) ) )

Company officials say they are studying various proposals but wo n't discuss details


( S ( NP-SBJ ( NP ( NNP Takashimaya ) ( NNP Co. ) ) ( NP ( NP ( NNP Japan ) ( POS 's ) ) ( JJS oldest ) ( NN department ) ( NN store ) ) ) ( VP ( VBZ is ) ( NP-PRD ( NP ( DT another ) ( NN name ) ) ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( VP ( VBZ keeps ) ( S ( VP ( VBG popping ) ( PRT ( RP up ) ) ( PP-CLR ( IN as ) ( NP ( NP ( DT a ) ( JJ potential ) ( NN fit ) ) ( PP ( IN with ) ( NP ( NNP Saks ) ) ) ) ) ) ) ) ) ) ) ) )

Takashimaya Co. Japan 's oldest department store is another name that keeps popping up as a potential fit with Saks


( S ( NP-SBJ ( NP ( NNP Eiji ) ( NNP Nakazato ) ) ( NP ( DT a ) ( NNP Takashimaya ) ( JJ general ) ( NN manager ) ) ) ( VP ( VBZ admits ) ( SBAR ( SBAR ( IN that ) ( S ( NP-SBJ ( NP ( PRP$ his ) ( NN company ) ( POS 's ) ) ( NN image ) ) ( VP ( VBZ is ) ( ADJP-PRD ( JJ similar ) ( PP ( TO to ) ( NP ( NNP Saks ) ( POS 's ) ) ) ) ) ) ) ( CC and ) ( SBAR ( IN that ) ( S ( NP-SBJ ( EX there ) ) ( VP ( VBZ is ) ( NP-PRD ( NP ( DT some ) ( NN interest ) ) ( PP ( IN in ) ( NP ( DT the ) ( NN idea ) ) ) ) ) ) ) ) ) )

Eiji Nakazato a Takashimaya general manager admits that his company 's image is similar to Saks 's and that there is some interest in the idea


( S ( CC But ) ( NP-SBJ ( PRP he ) ) ( VP ( VBZ stops ) ( ADVP-LOC ( RB there ) ) ) )

But he stops there


( S ( S-TPC-2 ( NP-SBJ-1 ( PRP We ) ) ( VP ( MD 'd ) ( VP ( VB like ) ( S ( VP ( TO to ) ( VP ( VB do ) ( NP ( NN business ) ) ( PP-LOC ( IN in ) ( NP ( NNP America ) ) ) ) ) ) ) ) ) ( NP-SBJ ( PRP he ) ) ( VP ( VBZ says ) ) )

We 'd like to do business in America he says


( S ( CC But ) ( NP-SBJ ( PRP it ) ) ( VP ( VBZ looks ) ( ADJP-PRD ( JJ tough ) ) ) )

But it looks tough


( S ( NP-SBJ ( NNP Marcus ) ( NNP W. ) ( NNP Brauchli ) ) ( VP ( VBD contributed ) ( PP-CLR ( TO to ) ( NP ( DT this ) ( NN article ) ) ) ) )

Marcus W. Brauchli contributed to this article


( S ( VP ( VBN Compiled ) ( PP ( IN by ) ( NP-LGS ( NNP William ) ( NNP Mathewson ) ) ) ) )

Compiled by William Mathewson


( S ( NP-SBJ ( DT The ) ( NNP Vatican ) ) ( VP ( VBD was ) ( PP-PRD ( IN in ) ( NP ( DT the ) ( NN red ) ) ) ( NP-TMP ( JJ last ) ( NN year ) ) ) )

The Vatican was in the red last year


( S ( NP-SBJ ( PRP It ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( DT the ) ( JJ regular ) ( CD 1988 ) ( NN deficit ) ) ( VP ( VBD amounted ) ( PP-CLR ( TO to ) ( NP ( QP ( CD 43.5 ) ( CD million ) ) ) ) ( PP ( VBN based ) ( PP ( IN on ) ( NP ( NP ( NP ( NN revenue ) ) ( PP ( IN of ) ( NP ( QP ( CD 74.4 ) ( CD million ) ) ) ) ) ( CC and ) ( NP ( NP ( NNS expenses ) ) ( PP ( IN of ) ( NP ( QP ( CD 117.9 ) ( CD million ) ) ) ) ) ) ) ) ) ) ) ) )

It said the regular 1988 deficit amounted to 43.5 million based on revenue of 74.4 million and expenses of 117.9 million


( S ( CC But ) ( NP-SBJ ( PRP it ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( NP ( JJ extraordinary ) ( NNS expenditures ) ) ( PP ( IN for ) ( NP ( NP ( PRP$ its ) ( NN radio ) ( NN station ) ) ( CC and ) ( NP ( NP ( NN restoration ) ) ( PP ( IN of ) ( NP ( NNS buildings ) ) ) ) ) ) ) ( VP ( VBD increased ) ( NP ( DT the ) ( NN deficit ) ) ( PP-DIR ( TO to ) ( NP ( QP ( CD 57.2 ) ( CD million ) ) ) ) ) ) ) ) )

But it said extraordinary expenditures for its radio station and restoration of buildings increased the deficit to 57.2 million


( S ( NP-SBJ ( NP ( DT A ) ( NN statement ) ) ( PP ( IN from ) ( NP ( NP ( DT the ) ( NN council ) ) ( PP ( IN of ) ( NP ( NNS cardinals ) ) ) ) ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( NNPS Catholics ) ) ( VP ( VBD had ) ( VP ( VBN responded ) ( ADVP-MNR ( RB generously ) ) ( PP-CLR ( TO to ) ( NP ( NP ( DT an ) ( NN appeal ) ) ( NP-TMP ( JJ last ) ( NN year ) ) ( S-1 ( VP ( TO to ) ( VP ( VB give ) ( NP ( JJR more ) ( NN money ) ) ) ) ) ) ) ( PP-TMP ( IN after ) ( NP ( NP ( CD 1987 ) ( POS 's ) ) ( JJ record ) ( ADJP ( QP ( CD 63 ) ( CD million ) ) ) ( NN deficit ) ) ) ) ) ) ) ) )

A statement from the council of cardinals said Catholics had responded generously to an appeal last year to give more money after 1987 's record 63 million deficit


( S ( NP-SBJ ( DT The ) ( NN statement ) ) ( VP ( VBD said ) ( S ( NP-SBJ-1 ( NP ( DT a ) ( ADJP ( CD 5 ) ( NN % ) ) ( NN jump ) ) ( PP ( IN in ) ( NP ( NP ( DT the ) ( NP ( NNP Peter ) ( POS 's ) ) ( NNP Pence ) ( NN collection ) ) ( PRN ( NP ( NP ( DT the ) ( JJ annual ) ( NN offering ) ) ( PP ( IN from ) ( NP ( NNPS Catholics ) ) ) ( PP ( TO to ) ( NP ( DT the ) ( NN pope ) ) ) ) ) ) ) ) ( VP ( VBD helped ) ( S ( VP ( VB cover ) ( NP ( DT the ) ( NN deficit ) ) ) ) ) ) ) )

The statement said a 5 % jump in the Peter 's Pence collection the annual offering from Catholics to the pope helped cover the deficit


( S ( NP-SBJ ( NP ( NN Council ) ( NN member ) ( NNP Cardinal ) ( NNP Gerald ) ( NNP Carter ) ) ( PP ( IN of ) ( NP ( NNP Toronto ) ) ) ) ( VP ( VBD told ) ( NP ( NNP Vatican ) ( NNP Radio ) ) ( S ( ADVP-TMP ( RB Now ) ( SBAR ( IN that ) ( S ( NP-SBJ ( PRP we ) ) ( VP ( VBP say ) ( SBAR ( S ( NP-SBJ ( PRP we ) ) ( VP ( VBD covered ) ( NP ( PRP$ our ) ( NN deficit ) ) ( NP-TMP ( DT this ) ( NN year ) ) ) ) ) ) ) ) ) ( NP-SBJ-1 ( NNS people ) ) ( VP ( VBP are ) ( VP ( VBG going ) ( S ( VP ( TO to ) ( VP ( VP ( VB relax ) ) ( CC and ) ( VP ( VB say ) ( SBAR ( S ( S ( INTJ ( RB well ) ) ( NP-SBJ ( DT that ) ) ( VP ( VBZ 's ) ( ADJP-PRD ( JJ fine ) ) ) ) ( S ( NP-SBJ ( DT the ) ( NNP Holy ) ( NNP See ) ) ( VP ( VBZ is ) ( PP-LOC-PRD ( IN out ) ( PP ( IN of ) ( NP ( DT the ) ( NN hole ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Council member Cardinal Gerald Carter of Toronto told Vatican Radio Now that we say we covered our deficit this year people are going to relax and say well that 's fine the Holy See is out of the hole


( S ( CC But ) ( NP-SBJ-1 ( PRP we ) ) ( VP ( VBP 're ) ( VP ( VBG going ) ( S ( VP ( TO to ) ( VP ( VB be ) ( PP-LOC-PRD ( IN in ) ( NP ( DT the ) ( JJ exact ) ( JJ same ) ( NN situation ) ) ) ( NP-TMP ( IN next ) ( NN year ) ) ) ) ) ) ) )

But we 're going to be in the exact same situation next year


( S ( S-TPC-2 ( NP-SBJ-1 ( NNP Former ) ( NNP President ) ( NNP Richard ) ( NNP Nixon ) ) ( VP ( VBZ is ) ( S ( VP ( TO to ) ( VP ( VB visit ) ( NP ( NNP China ) ) ( PP ( IN at ) ( NP ( NP ( DT the ) ( NN invitation ) ) ( PP ( IN of ) ( NP ( DT the ) ( NN government ) ) ) ) ) ( PP-TMP ( VBG beginning ) ( NP ( NNP Saturday ) ) ) ) ) ) ) ) ( NP-SBJ ( DT the ) ( NNP Foreign ) ( NNP Ministry ) ) ( VP ( VBD announced ) ) )

Former President Richard Nixon is to visit China at the invitation of the government beginning Saturday the Foreign Ministry announced


( S ( PP ( VBG According ) ( PP ( TO to ) ( NP ( NP ( NNP Mr. ) ( NNP Nixon ) ( POS 's ) ) ( NN office ) ) ) ) ( NP-SBJ ( DT This ) ) ( VP ( VBZ is ) ( ADVP ( RB solely ) ) ( NP-PRD ( DT a ) ( JJ fact-finding ) ( NN trip ) ) ) )

According to Mr. Nixon 's office This is solely a fact-finding trip


( S ( NP-SBJ ( EX There ) ) ( VP ( MD will ) ( VP ( VB be ) ( NP-PRD ( NP ( RB no ) ( NN sightseeing ) ) ( NP ( DT no ) ( NN shopping ) ) ( CC and ) ( NP ( DT no ) ( JJ social ) ( NNS events ) ) ) ) ) )

There will be no sightseeing no shopping and no social events


( S ( NP-SBJ ( NP ( NNP Mr. ) ( NNP Nixon ) ( POS 's ) ) ( NN office ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ-1 ( DT the ) ( JJ former ) ( NN president ) ) ( VP ( VP ( VBZ expects ) ( S ( VP ( TO to ) ( VP ( VB have ) ( NP ( NP ( JJ one-on-one ) ( NNS discussions ) ) ( PP ( IN with ) ( NP ( DT the ) ( JJ major ) ( JJ Chinese ) ( NNS leaders ) ) ) ) ) ) ) ) ( CC and ) ( VP ( MD will ) ( VP ( VB give ) ( NP ( NP ( PRP$ his ) ( NN assessment ) ) ( PP ( IN of ) ( NP ( DT those ) ( NNS leaders ) ) ) ) ( PP-DTV ( TO to ) ( NP ( NNP President ) ( NNP Bush ) ) ) ( PP-TMP ( IN upon ) ( NP ( PRP$ his ) ( NN return ) ) ) ) ) ) ) ) ) )

Mr. Nixon 's office said the former president expects to have one-on-one discussions with the major Chinese leaders and will give his assessment of those leaders to President Bush upon his return


( S ( NP-SBJ ( NP ( DT A ) ( NN poll ) ) ( VP ( VBN conducted ) ( PP-LOC ( IN in ) ( NP ( NP ( CD 12 ) ) ( PP ( IN of ) ( NP ( CD 16 ) ( NNP NATO ) ( NNS countries ) ) ) ) ) ) ) ( VP ( VBZ shows ) ( SBAR ( IN that ) ( S ( NP-SBJ-1 ( DT the ) ( NNPS Dutch ) ) ( VP ( VBP appear ) ( S ( VP ( TO to ) ( VP ( VB be ) ( NP-PRD ( NP ( DT the ) ( JJS strongest ) ( NNS supporters ) ) ( PP ( IN of ) ( NP ( DT the ) ( NN alliance ) ) ) ) ) ) ) ) ) ) ) )

A poll conducted in 12 of 16 NATO countries shows that the Dutch appear to be the strongest supporters of the alliance


( S ( NP-SBJ ( NP ( DT The ) ( NN poll ) ) ( VP ( VBN conducted ) ( PP ( IN for ) ( NP ( DT the ) ( JJ Dutch ) ( NN daily ) ( NNP De ) ( NNP Telegraaf ) ) ) ( PP ( IN by ) ( NP-LGS ( NNP Gallup ) ( NNP International ) ) ) ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( NP ( CD 81 ) ( NN % ) ) ( PP ( IN of ) ( NP ( JJ Dutch ) ( NNS people ) ) ) ) ( VP ( VBD supported ) ( NP ( NNP NATO ) ) ) ) ) ) )

The poll conducted for the Dutch daily De Telegraaf by Gallup International said 81 % of Dutch people supported NATO


( S ( NP-SBJ-1 ( NNP Canada ) ) ( VP ( VBD was ) ( NP-PRD ( DT the ) ( JJ second ) ( RBS most ) ( JJ pro-NATO ) ( NN country ) ) ( PP ( IN with ) ( S-NOM ( NP-SBJ ( CD 78 ) ( NN % ) ) ( VP ( VBG supporting ) ( NP ( DT the ) ( NN alliance ) ) ) ) ) ( S-ADV ( VP ( VBN followed ) ( PP ( IN by ) ( NP ( NP ( NP ( DT the ) ( NNP U.S. ) ) ( PP ( IN with ) ( NP ( CD 75 ) ( NN % ) ) ) ) ( NP ( NP ( NNP Britain ) ) ( PP ( IN with ) ( NP ( CD 71 ) ( NN % ) ) ) ) ( NP ( NP ( NN Belgium ) ) ( PP ( IN with ) ( NP ( CD 69 ) ( NN % ) ) ) ) ( CC and ) ( NP ( NP ( NNP West ) ( NNP Germany ) ) ( PP ( IN with ) ( NP ( CD 63 ) ( NN % ) ) ) ) ) ) ) ) ) )

Canada was the second most pro-NATO country with 78 % supporting the alliance followed by the U.S. with 75 % Britain with 71 % Belgium with 69 % and West Germany with 63 %


( S ( NP-SBJ ( DT All ) ( JJ other ) ( NNS countries ) ) ( VP ( VBD registered ) ( NP ( NP ( NN support ) ) ( PP ( IN below ) ( NP ( CD 50 ) ( NN % ) ) ) ) ) )

All other countries registered support below 50 %


( S ( NP-SBJ ( NP ( DT The ) ( NNP Israeli ) ( NNP Manufacturers ) ( POS ' ) ) ( NN Association ) ) ( VP ( VBD filed ) ( NP ( NP ( DT a ) ( NN police ) ( NN complaint ) ) ( PP ( IN against ) ( NP ( DT an ) ( JJ Arab ) ( NN pasta ) ( NN maker ) ) ) ( PP ( IN for ) ( S-NOM ( VP ( VBG using ) ( NP ( NP ( DT the ) ( CD four ) ( NNS colors ) ) ( PP ( IN of ) ( NP ( DT the ) ( JJ outlawed ) ( JJ Palestinian ) ( NN flag ) ) ) ) ( PP-LOC-CLR ( IN on ) ( NP ( NNS spaghetti ) ( NNS packages ) ) ) ) ) ) ) ) )

The Israeli Manufacturers ' Association filed a police complaint against an Arab pasta maker for using the four colors of the outlawed Palestinian flag on spaghetti packages