( S ( NP-SBJ ( NNP Mr. ) ( NNP Pilson ) ) ( VP ( VBZ says ) ( SBAR ( IN that ) ( S ( SBAR-TMP ( WHADVP-1 ( WRB when ) ) ( S ( NP-SBJ ( PRP he ) ) ( VP ( VBD spoke ) ( PRT ( RP out ) ) ( ADVP-TMP ( NP ( DT a ) ( JJ few ) ( NNS years ) ) ( RB ago ) ) ) ) ) ( S ( NP-SBJ ( PRP I ) ) ( VP ( VBD did ) ( RB n't ) ( VP ( VB say ) ( ADVP ( RB forever ) ) ) ) ) ( CC and ) ( S ( NP-SBJ ( PRP I ) ) ( VP ( VBD did ) ( RB n't ) ( VP ( VB say ) ( NP ( DT every ) ( NN property ) ) ) ) ) ) ) ) )

Mr. Pilson says that when he spoke out a few years ago I did n't say forever and I did n't say every property


( S ( S-TPC-1 ( NP-SBJ ( DT The ) ( NN market ) ) ( VP ( VBD changed ) ) ) ( NP-SBJ ( PRP he ) ) ( VP ( VBZ adds ) ) )

The market changed he adds


( S ( S ( CC And ) ( NP-SBJ ( PRP he ) ) ( VP ( VBZ is ) ( RB n't ) ( NP-PRD ( DT the ) ( RB only ) ( JJ big ) ( NN spender ) ) ) ) ( S ( S ( NP-SBJ ( NNP NBC ) ) ( VP ( MD will ) ( VP ( VB pay ) ( NP ( DT a ) ( NN record ) ( QP ( CD 401 ) ( CD million ) ) ) ( PP-CLR ( IN for ) ( NP ( DT the ) ( CD 1992 ) ( NNPS Summer ) ( NNPS Games ) ) ) ) ) ) ( CC and ) ( S ( NP-SBJ-1 ( NP ( NNP ESPN ) ) ( ADJP ( JJ 80%-owned ) ( PP ( IN by ) ( NP ( NNP Capital ) ( NNP Cities\/ABC ) ) ) ) ) ( VP ( MD will ) ( VP ( VB shell ) ( PRT ( RP out ) ) ( NP ( QP ( CD 400 ) ( CD million ) ) ) ( PP-CLR ( IN for ) ( NP ( NP ( CD four ) ( NNS years ) ) ( PP ( IN of ) ( NP ( NN baseball ) ) ) ) ) ( S-ADV ( VP ( VBG airing ) ( NP ( NP ( CD 175 ) ( JJ regular-season ) ( NNS games ) ) ( NP-ADV ( DT a ) ( NN year ) ) ) ) ) ) ) ) ) )

And he is n't the only big spender NBC will pay a record 401 million for the 1992 Summer Games and ESPN 80%-owned by Capital Cities\/ABC will shell out 400 million for four years of baseball airing 175 regular-season games a year


( S ( NP-SBJ ( PRP$ Our ) ( NNS competitors ) ) ( VP ( VBP say ) ( SBAR ( S ( NP-SBJ ( PRP we ) ) ( VP ( VBD overbid ) ( NP ( PRP them ) ) ) ) ) ) )

Our competitors say we overbid them


( SBARQ ( WHNP-1 ( WP Who ) ) ( SQ ( VP ( VBZ cares ) ) ) )

Who cares


( S ( S-TPC-1 ( ADVP ( RB Maybe ) ) ( NP-SBJ ( PRP we ) ) ( VP ( VBP recognize ) ( NP ( NP ( NNS values ) ) ( SBAR ( FRAG ( NP ( DT the ) ( JJ other ) ( NNS guys ) ) ( VP ( VBP do ) ( RB n't ) ) ) ) ) ) ) ( NP-SBJ ( NNP Mr. ) ( NNP Pilson ) ) ( VP ( VBZ says ) ) )

Maybe we recognize values the other guys do n't Mr. Pilson says


( S ( NP-SBJ ( NP ( NNP Mr. ) ( NNP Pilson ) ( POS 's ) ) ( JJ Major ) ( NNS Events ) ( NN strategy ) ) ( VP ( VBD jelled ) ( SBAR-TMP ( IN after ) ( S ( NP-SBJ ( NNP Mr. ) ( NNP Tisch ) ) ( VP ( VBD took ) ( PRT ( RP over ) ) ) ) ) ) )

Mr. Pilson 's Major Events strategy jelled after Mr. Tisch took over


( S ( NP-SBJ ( NNP Mr. ) ( NNP Pilson ) ) ( VP ( VBZ recalls ) ( SBAR ( IN that ) ( S ( PP-TMP ( IN in ) ( NP ( NNP April ) ( CD 1986 ) ) ) ( PP-TMP ( IN after ) ( NP ( NP ( NNP CBS ) ( POS 's ) ) ( JJ annual ) ( NN meeting ) ( PP ( IN in ) ( NP ( NNP Philadelphia ) ) ) ) ) ( S ( NP-SBJ ( NP ( PRP he ) ) ( CC and ) ( NP ( NNP Mr. ) ( NNP Tisch ) ) ) ( VP ( VBD took ) ( NP ( NP ( DT the ) ( JJ 90-minute ) ( NN train ) ( NN ride ) ) ( ADVP ( RB back ) ( PP ( TO to ) ( NP ( NNP New ) ( NNP York ) ) ) ) ) ) ) ( CC and ) ( S ( NP-SBJ-1 ( NNP Mr. ) ( NNP Pilson ) ) ( VP ( VBD used ) ( NP ( DT this ) ( JJ extended ) ( JJ private ) ( NN audience ) ) ( S-CLR ( VP ( TO to ) ( VP ( VB outline ) ( NP ( PRP$ his ) ( NNS ambitions ) ) ) ) ) ) ) ) ) ) )

Mr. Pilson recalls that in April 1986 after CBS 's annual meeting in Philadelphia he and Mr. Tisch took the 90-minute train ride back to New York and Mr. Pilson used this extended private audience to outline his ambitions


( S ( NP-SBJ ( NP ( NNP Mr. ) ( NNP Tisch ) ) ( NP ( NP ( DT a ) ( NN billionaire ) ) ( PP-LOC ( IN in ) ( NP ( NNS hotels ) ( CC and ) ( NN finance ) ) ) ) ) ( VP ( VBD was ) ( ADVP ( RB just ) ) ( VP ( VBG learning ) ( NP ( DT the ) ( NN TV ) ( NN business ) ) ) ) )

Mr. Tisch a billionaire in hotels and finance was just learning the TV business


( S ( S ( ADVP-TMP ( NP ( CD Five ) ( NNS months ) ) ( RB later ) ) ( NP-SBJ ( NNP Mr. ) ( NNP Tisch ) ) ( VP ( VBD took ) ( PRT ( RP over ) ) ( PP-CLR ( IN as ) ( NP ( NP ( NNP CBS ) ( POS 's ) ) ( JJ chief ) ( NN executive ) ) ) ) ) ( CC and ) ( S ( ADVP-PRP ( RB soon ) ) ( NP-SBJ ( PRP he ) ) ( VP ( VBD was ) ( VP ( VBG wielding ) ( NP ( JJ sole ) ( NN approval ) ) ( NP-TMP ( NP ( DT each ) ( NN time ) ) ( SBAR ( S ( NP-SBJ ( NNP Mr. ) ( NNP Pilson ) ) ( VP ( VP ( VBD scribbled ) ( NP ( DT a ) ( ADJP ( RB frighteningly ) ( JJ large ) ) ( NN figure ) ) ( PP-LOC ( IN on ) ( NP ( NP ( DT a ) ( NN slip ) ) ( PP ( IN of ) ( NP ( NN paper ) ) ) ) ) ) ( VP ( VBD sealed ) ( NP ( PRP it ) ) ( PP-DIR ( IN in ) ( NP ( DT an ) ( NN envelope ) ) ) ) ( CC and ) ( VP ( VBD gave ) ( NP ( PRP it ) ) ( PP-DTV ( TO to ) ( NP ( NNS sports ) ( NNS negotiators ) ) ) ) ) ) ) ) ) ) ) )

Five months later Mr. Tisch took over as CBS 's chief executive and soon he was wielding sole approval each time Mr. Pilson scribbled a frighteningly large figure on a slip of paper sealed it in an envelope and gave it to sports negotiators


( S ( ADVP-TMP ( RB Then ) ) ( PP-TMP ( IN in ) ( NP ( NNP May ) ( CD 1988 ) ) ) ( NP-SBJ-1 ( NNP Mr. ) ( NNP Tisch ) ) ( ADVP-MNR ( RB urgently ) ) ( VP ( VBD needed ) ( S ( VP ( TO to ) ( VP ( VB make ) ( NP ( DT a ) ( JJ bold ) ( NN statement ) ) ) ) ) ( S-PRP ( VP ( TO to ) ( VP ( VB quell ) ( NP ( NNS rumors ) ( SBAR ( IN that ) ( S ( NP-SBJ ( PRP he ) ) ( VP ( MD might ) ( VP ( VB sell ) ( NP ( DT the ) ( NN network ) ) ) ) ) ) ) ) ) ) ) )

Then in May 1988 Mr. Tisch urgently needed to make a bold statement to quell rumors that he might sell the network


( S ( S ( NP-SBJ ( NNP Mr. ) ( NNP Pilson ) ) ( VP ( VBD gave ) ( NP ( PRP him ) ) ( NP ( NN one ) ) ) ) ( S ( S ( NP-SBJ ( PRP He ) ) ( VP ( VBD bid ) ( NP ( QP ( CD 243 ) ( CD million ) ) ) ( PP-CLR ( IN for ) ( NP ( NP ( NNS rights ) ) ( PP ( TO to ) ( NP ( NP ( DT the ) ( CD 1992 ) ( NNPS Winter ) ( NNPS Games ) ) ( PP-LOC ( IN in ) ( NP ( NNP Albertville ) ( NNP France ) ) ) ) ) ) ) ) ) ( S ( NP-SBJ ( NNP ABC ) ( CC and ) ( NNP NBC ) ) ( VP ( MD would ) ( RB n't ) ( VP ( VB bid ) ( NP ( RB even ) ( QP ( CD 200 ) ( CD million ) ) ) ) ) ) ) )

Mr. Pilson gave him one He bid 243 million for rights to the 1992 Winter Games in Albertville France ABC and NBC would n't bid even 200 million


( S ( NP-SBJ ( WDT That ) ) ( VP ( VBD started ) ( NP ( DT the ) ( VBG still-raging ) ( NN bidding ) ( NNS wars ) ) ) )

That started the still-raging bidding wars


( S-1 ( NP-SBJ-2 ( DT The ) ( JJ Major ) ( NNS Events ) ( NN strategy ) ) ( PRN ( S ( NP-SBJ ( NNP Mr. ) ( NNP Pilson ) ) ( VP ( VBZ says ) ) ) ) ( VP ( VBZ is ) ( VP ( VBN designed ) ( S ( VP ( TO to ) ( VP ( VB notch ) ( NP ( NP ( DT a ) ( NN place ) ) ( PP ( IN for ) ( NP ( NNP CBS ) ) ) ( PP-LOC ( IN on ) ( NP ( NP ( DT the ) ( JJ crowded ) ( NN TV ) ( NN dial ) ) ( PP ( IN of ) ( NP ( DT the ) ( NNS 1990s ) ) ) ) ) ) ) ) ) ) ) )

The Major Events strategy Mr. Pilson says is designed to notch a place for CBS on the crowded TV dial of the 1990s


( S ( NP-SBJ ( PRP It ) ) ( VP ( VBZ 's ) ( ADVP ( RB also ) ) ( NP-PRD ( NP ( DT a ) ( JJ fast ) ( NN fix ) ) ( PP ( IN for ) ( NP ( DT an ) ( JJ ailing ) ( NN image ) ) ) ) ) )

It 's also a fast fix for an ailing image


( S ( NP-SBJ ( PRP He ) ) ( VP ( VBZ sees ) ( NP ( JJ flashy ) ( NNS sports ) ) ( PP-CLR ( IN as ) ( NP ( NP ( DT the ) ( JJ only ) ( NN way ) ) ( SBAR ( S ( NP-SBJ ( DT the ) ( JJ last-place ) ( NN network ) ) ( VP ( MD can ) ( VP ( VP ( VB cut ) ( PP-DIR ( IN through ) ( NP ( NP ( DT the ) ( NN clutter ) ) ( PP ( IN of ) ( NP ( NN cable ) ( CC and ) ( NNS VCRs ) ) ) ) ) ) ( VP ( VB grab ) ( NP ( NP ( NNS millions ) ) ( PP ( IN of ) ( NP ( JJ new ) ( NNS viewers ) ) ) ) ) ( CC and ) ( VP ( VB tell ) ( NP ( PRP them ) ) ( PP-CLR ( IN about ) ( NP ( NP ( JJ other ) ( NNS shows ) ) ( VP ( VBG premiering ) ( ADVP-TMP ( NP ( DT a ) ( JJ few ) ( NNS weeks ) ) ( RB later ) ) ) ) ) ) ) ) ) ) ) ) ) )

He sees flashy sports as the only way the last-place network can cut through the clutter of cable and VCRs grab millions of new viewers and tell them about other shows premiering a few weeks later


( S ( NP-TMP ( IN Next ) ( NNP October ) ) ( NP-SBJ-1 ( NNP CBS ) ) ( PP ( IN for ) ( NP ( DT the ) ( JJ first ) ( NN time ) ) ) ( VP ( MD wo ) ( RB n't ) ( VP ( VB have ) ( S ( VP ( TO to ) ( VP ( VB start ) ( NP ( DT the ) ( NN season ) ) ( PP-CLR ( IN against ) ( NP ( NP ( DT the ) ( JJ much-watched ) ( ADJP ( JJ American ) ( CC and ) ( JJ National ) ) ( NN baseball ) ( NN league ) ( NNS championships ) ) ( CC and ) ( NP ( DT the ) ( NNP World ) ( NNP Series ) ) ) ) ) ) ) ) ) )

Next October CBS for the first time wo n't have to start the season against the much-watched American and National baseball league championships and the World Series


( SINV ( S-TPC-2 ( NP-SBJ ( PRP I ) ) ( VP ( VBP 've ) ( VP ( VBN been ) ( VP ( VBG struggling ) ( PP-CLR ( IN against ) ( NP ( IN that ) ) ) ( PP-TMP ( IN for ) ( NP ( NNS years ) ) ) ) ) ) ) ( VP ( VBZ says ) ) ( NP-SBJ ( NP ( NNP Jonathan ) ( NNP Rodgers ) ) ( SBAR ( WHNP-1 ( WP who ) ) ( S ( VP ( VBZ runs ) ( NP ( NP ( NNP WBBM-TV ) ) ( NP ( NP ( DT the ) ( JJ CBS-owned ) ( NN station ) ) ( PP-LOC ( IN in ) ( NP ( NNP Chicago ) ) ) ) ) ) ) ) ) )

I 've been struggling against that for years says Jonathan Rodgers who runs WBBM-TV the CBS-owned station in Chicago


( S ( S-TPC-2 ( SBAR-ADV ( RB Even ) ( IN if ) ( S ( NP-SBJ ( NN baseball ) ) ( VP ( VBZ triggers ) ( NP ( NP ( NNS losses ) ) ( PP-LOC ( IN at ) ( NP ( NNP CBS ) ) ) ) ) ) ) ( PRN ( CC and ) ( S ( NP-SBJ ( PRP he ) ) ( VP ( VBZ does ) ( RB n't ) ( VP ( VB think ) ( SBAR ( S ( NP-SBJ ( PRP it ) ) ( VP ( MD will ) ) ) ) ) ) ) ) ( NP-SBJ ( PRP I ) ) ( VP ( MD 'd ) ( ADVP ( RB rather ) ) ( VP ( VB see ) ( NP ( DT the ) ( NNS games ) ) ( PP-LOC ( PP ( IN on ) ( NP ( PRP$ our ) ( NN air ) ) ) ( PP-1 ( IN than ) ( PP ( IN on ) ( NP ( NNP NBC ) ( CC and ) ( NNP ABC ) ) ) ) ) ) ) ) ( NP-SBJ ( PRP he ) ) ( VP ( VBZ says ) ) )

Even if baseball triggers losses at CBS and he does n't think it will I 'd rather see the games on our air than on NBC and ABC he says


( S ( NP-SBJ ( DT That ) ) ( VP ( VBZ is ) ( RB n't ) ( ADJP-PRD ( JJ surprising ) ) ) )

That is n't surprising


( S ( S ( NP-SBJ ( JJ Regular ) ( NN TV ) ( NN series ) ( NNS ratings ) ) ( VP ( VBP have ) ( VP ( VBN slumped ) ( PP-TMP ( IN in ) ( NP ( DT the ) ( JJ past ) ( CD five ) ( NNS years ) ) ) ) ) ) ( CC and ) ( S ( S-1 ( S-NOM-SBJ ( VP ( VBG premiering ) ( NP ( JJ new ) ( NNS shows ) ) ) ) ( VP ( VBZ is ) ( NP-PRD ( DT a ) ( NN crap ) ( NN shoot ) ) ) ) ( NP-SBJ ( NNP Mr. ) ( NNP Pilson ) ) ( VP ( VBZ says ) ) ) )

Regular TV series ratings have slumped in the past five years and premiering new shows is a crap shoot Mr. Pilson says


( S ( CC But ) ( NP-SBJ ( JJ top ) ( NNS sports ) ( NNS events ) ) ( VP ( VBP are ) ( ADVP ( RB still ) ) ( NP-PRD ( DT a ) ( JJ strong ) ( NN bet ) ) ( S-PRP ( VP ( TO to ) ( VP ( VB lure ) ( NP ( NP ( NNS audiences ) ) ( ADJP ( ADJP ( NP-ADV ( CD 30 ) ( NN % ) ( CC or ) ( CD 40 ) ( NN % ) ) ( JJR larger ) ) ( PP ( IN than ) ( NP ( NP ( DT those ) ) ( SBAR ( S ( NP-SBJ ( NNP CBS ) ) ( ADVP-TMP ( RB usually ) ) ( VP ( VBZ gets ) ) ) ) ) ) ) ) ) ) ) ) )

But top sports events are still a strong bet to lure audiences 30 % or 40 % larger than those CBS usually gets


( S ( NP-SBJ ( NNP Mr. ) ( NNP Pilson ) ) ( VP ( VBZ says ) ( S ( NP-SBJ-1 ( NP ( NN baseball ) ) ( CC and ) ( NP ( DT the ) ( NNPS Olympics ) ) ) ( VP ( MD may ) ( VP ( VB help ) ( S ( NP-SBJ ( NNP CBS ) ) ( VP ( VB move ) ( ADVP-DIR ( RB up ) ( PP ( TO to ) ( NP ( NP ( NN No. ) ( CD 2 ) ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( NN household ) ( NNS ratings ) ( NN race ) ) ) ) ) ) ) ) ( S-ADV ( VP ( VBG putting ) ( NP ( NN pizazz ) ) ( ADVP-PUT ( RB back ) ( PP ( IN into ) ( NP ( NP ( DT the ) ( NN network ) ( POS 's ) ) ( NN image ) ) ) ) ) ) ) ) ) ) )

Mr. Pilson says baseball and the Olympics may help CBS move up to No. 2 in the household ratings race putting pizazz back into the network 's image


( S ( CC And ) ( NP-SBJ ( DT the ) ( NNPS Winter ) ( NNPS Olympics ) ) ( VP ( MD will ) ( VP ( VB air ) ( PP-TMP ( IN during ) ( NP ( NP ( DT the ) ( NNP February ) ( NNS sweeps ) ) ( SBAR ( WHADVP-1 ( WRB when ) ) ( S ( NP-SBJ-2 ( NNS ratings ) ) ( VP ( VBP are ) ( VP ( VBN used ) ( S-CLR ( VP ( TO to ) ( VP ( VB set ) ( NP ( NP ( NN ad ) ( NNS rates ) ) ( PP ( IN for ) ( NP ( JJ local ) ( NNS stations ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

And the Winter Olympics will air during the February sweeps when ratings are used to set ad rates for local stations


( S ( NP-SBJ ( DT That ) ) ( VP ( MD will ) ( VP ( VP ( VB please ) ( NP ( JJ once-grumpy ) ( NNS affiliates ) ) ) ( NP-ADV ( NP ( DT another ) ( NN aim ) ) ( PP ( IN of ) ( NP ( DT the ) ( NNP Pilson ) ( NN plan ) ) ) ) ) ) )

That will please once-grumpy affiliates another aim of the Pilson plan


( S ( NP-SBJ ( PRP They ) ) ( ADVP-MNR ( RB gleefully ) ) ( VP ( VBP await ) ( NP ( NP ( DT the ) ( NN dream ) ( NN season ) ) ( PP-TMP ( IN in ) ( NP ( CD 1990 ) ) ) ) ) )

They gleefully await the dream season in 1990


( S ( NP-SBJ ( NNP CBS ) ) ( VP ( MD will ) ( VP ( VB air ) ( NP ( NP ( DT the ) ( NNP Super ) ( NNP Bowl ) ) ( NP ( NN baseball ) ( NNS playoffs ) ) ( NP ( NN college ) ( CC and ) ( JJ pro ) ( NN basketball ) ( NNS finals ) ) ( CC and ) ( NP ( JJ other ) ( JJ premier ) ( NNS sports ) ( NNS events ) ) ) ) ) )

CBS will air the Super Bowl baseball playoffs college and pro basketball finals and other premier sports events


( SINV ( S-TPC-2 ( NP-SBJ ( PRP It ) ) ( VP ( VBZ 's ) ( VP ( VBN made ) ( S ( NP-SBJ ( PRP me ) ) ( ADJP-PRD ( RBR more ) ( JJ committed ) ( PP ( TO to ) ( NP ( NNP CBS ) ) ) ) ) ) ) ) ( VP ( VBZ says ) ) ( NP-SBJ ( NP ( NNP Philip ) ( NN A. ) ( NNP Jones ) ) ( NP ( NP ( DT the ) ( NN president ) ) ( PP ( IN of ) ( NP ( NP ( NP ( NNP Meredith ) ( NNP Corp. ) ( POS 's ) ) ( NN broadcast ) ( NN group ) ) ( SBAR ( WHNP-1 ( WDT which ) ) ( S ( VP ( VBZ has ) ( NP ( CD two ) ( NNP CBS ) ( NNS affiliates ) ) ) ) ) ) ) ) ) )

It 's made me more committed to CBS says Philip A. Jones the president of Meredith Corp. 's broadcast group which has two CBS affiliates


( S ( NP-SBJ ( DT The ) ( NNP CBS ) ( NN plan ) ( S ( VP ( TO to ) ( VP ( VB use ) ( NP ( JJ big-time ) ( NNS sports ) ) ( PP-CLR ( IN as ) ( NP ( NP ( DT a ) ( NN platform ) ) ( PP ( IN for ) ( NP ( JJ other ) ( NN series ) ) ) ) ) ) ) ) ) ( VP ( VBZ carries ) ( NP ( NP ( DT no ) ( NN guarantee ) ) ( PP ( IN of ) ( NP ( NN success ) ) ) ) ( ADVP ( RB however ) ) ) )

The CBS plan to use big-time sports as a platform for other series carries no guarantee of success however


( S ( NP-SBJ ( NP ( DT No ) ( NN amount ) ) ( PP ( IN of ) ( NP ( NN hype ) ) ) ) ( VP ( MD will ) ( VP ( VB bring ) ( NP ( NNS viewers ) ) ( ADVP-DIR ( RB back ) ) ( SBAR-ADV ( IN if ) ( S ( NP-SBJ ( DT the ) ( NNS shows ) ) ( VP ( VBP are ) ( ADJP-PRD ( JJ weak ) ) ) ) ) ) ) )

No amount of hype will bring viewers back if the shows are weak


( S ( S-TPC-1 ( PP-LOC ( IN In ) ( NP ( NP ( DT this ) ( NN market ) ) ( PP ( IN of ) ( NP ( NP ( CD 40 ) ( NNS channels ) ) ( NP ( JJ sophisticated ) ( NNS viewers ) ) ( CC and ) ( NP ( DT the ) ( JJ remote ) ( NN control ) ) ) ) ) ) ( NP-SBJ ( NN trial ) ) ( VP ( VBZ is ) ( RB n't ) ( NP-PRD ( NP ( DT a ) ( NN guarantee ) ) ( PP ( IN of ) ( NP ( NN anything ) ) ) ) ) ) ( NP-SBJ ( NP ( NNP ESPN ) ( POS 's ) ) ( NNP Mr. ) ( NNP Werner ) ) ( VP ( VBZ says ) ) )

In this market of 40 channels sophisticated viewers and the remote control trial is n't a guarantee of anything ESPN 's Mr. Werner says


( S ( SBAR-ADV ( IN If ) ( S ( NP-SBJ ( DT the ) ( NN show ) ) ( VP ( VBP ai ) ( RB n't ) ( NP-PRD ( DT a ) ( NN killer ) ) ) ) ) ( NP-SBJ ( PRP they ) ) ( VP ( VBP 're ) ( ADJP-PRD ( VBN gone ) ) ) )

If the show ai n't a killer they 're gone


( S ( S ( PP-TMP ( IN During ) ( NP ( DT the ) ( CD 1984 ) ( NNPS Summer ) ( NNPS Games ) ) ) ( PP ( IN for ) ( NP ( NN example ) ) ) ( NP-SBJ ( NNP ABC ) ) ( VP ( VBD touted ) ( NP ( NP ( VB Call ) ) ( PP ( TO to ) ( NP ( NN Glory ) ) ) ) ) ) ( CC but ) ( S ( NP-SBJ ( DT the ) ( JJ military ) ( NN drama ) ) ( VP ( VBD was ) ( ADJP-PRD ( VBG missing ) ( PP ( IN in ) ( NP ( NN action ) ) ) ) ( PP-TMP ( IN within ) ( NP ( NNS weeks ) ) ) ) ) )

During the 1984 Summer Games for example ABC touted Call to Glory but the military drama was missing in action within weeks


( S ( NP-TMP ( JJ Last ) ( NNP October ) ) ( PP-TMP ( IN during ) ( NP ( DT the ) ( CD 1988 ) ( NNPS Summer ) ( NNPS Games ) ) ) ( NP-SBJ ( NNP NBC ) ) ( ADVP-MNR ( RB relentlessly ) ) ( VP ( VBD pitched ) ( NP ( NP ( DT a ) ( JJ new ) ( NN series ) ) ( NP ( NNPS Tattingers ) ) ) ) )

Last October during the 1988 Summer Games NBC relentlessly pitched a new series Tattingers


( S ( NP-SBJ ( PRP It ) ) ( VP ( VBD belly-flopped ) ( ADVP ( RB anyway ) ) ) )

It belly-flopped anyway


( S ( ADVP ( RB Moreover ) ) ( NP-SBJ ( NNS sports ) ) ( VP ( VBZ is ) ( ADVP ( RB hardly ) ) ( NP-PRD ( NP ( DT the ) ( JJS best ) ( NN way ) ) ( SBAR ( S ( VP ( TO to ) ( VP ( VB lure ) ( NP ( NN adult ) ( NNS women ) ) ) ) ) ) ) ) )

Moreover sports is hardly the best way to lure adult women


( S ( SBAR-ADV ( NNP Though ) ( S ( NP-SBJ ( NNP CBS ) ) ( VP ( MD might ) ( VP ( VB move ) ( ADVP-DIR ( RB up ) ( PP ( TO to ) ( NP ( NP ( NN No. ) ( CD 2 ) ) ( PP-LOC ( IN in ) ( NP ( NN household ) ( NNS ratings ) ) ) ) ) ) ) ) ) ) ( NP-SBJ ( JJS most ) ( NNS advertisers ) ) ( VP ( VBP buy ) ( PP-MNR ( VBN based ) ( PP ( IN on ) ( NP ( NP ( NNS ratings ) ) ( PP ( IN for ) ( NP ( NP ( NNS women ) ) ( ADJP ( VBN aged ) ( NP ( NP ( CD 18 ) ) ( PP ( TO to ) ( NP ( CD 49 ) ) ) ) ) ) ) ) ) ) ) )

Though CBS might move up to No. 2 in household ratings most advertisers buy based on ratings for women aged 18 to 49


( S ( NP-SBJ ( NNP CBS ) ) ( VP ( MD may ) ( VP ( VB remain ) ( NP-PRD ( DT a ) ( JJ distant ) ( NN No. ) ( CD 3 ) ) ( PP ( IN in ) ( NP ( DT that ) ( NN regard ) ) ) ) ) )

CBS may remain a distant No. 3 in that regard


( SINV ( CC Nor ) ( VBZ is ) ( NP-SBJ ( NNP CBS ) ) ( NP-PRD ( NP ( DT a ) ( NN shoo-in ) ) ( SBAR ( S ( VP ( TO to ) ( VP ( VB get ) ( NP ( JJ blockbuster ) ( NNS ratings ) ) ) ) ) ) ) )

Nor is CBS a shoo-in to get blockbuster ratings


( S ( PP-TMP ( IN In ) ( NP ( JJ recent ) ( NNS years ) ) ) ( NP-SBJ-1 ( NP ( DT the ) ( NNP World ) ( NNP Series ) ) ( CC and ) ( NP ( DT the ) ( NNPS Olympics ) ) ) ( VP ( VBD were ) ( VP ( VBN aired ) ( PP-CLR ( IN against ) ( NP ( NP ( NNP CBS ) ( POS 's ) ) ( JJ last-place ) ( NN lineup ) ) ) ) ) )

In recent years the World Series and the Olympics were aired against CBS 's last-place lineup


( S ( CC But ) ( NP-SBJ ( NNP CBS ) ) ( VP ( MD will ) ( VP ( VB put ) ( NP ( DT the ) ( NNS athletes ) ) ( ADVP-PUT ( RP up ) ( PP ( IN against ) ( NP ( NP ( NNP Bill ) ( NNP Cosby ) ) ( NP ( NNP Cheers ) ) ( CC and ) ( NP ( NP ( JJ other ) ( NNS shows ) ) ( PP-LOC ( IN in ) ( NP ( NP ( NNP NBC ) ( POS 's ) ) ( NN No. ) ( CD 1 ) ( NN schedule ) ) ) ) ) ) ) ) ) )

But CBS will put the athletes up against Bill Cosby Cheers and other shows in NBC 's No. 1 schedule


( S ( NP-SBJ ( NP ( RB Even ) ( DT the ) ( NN boon ) ) ( PP ( TO to ) ( NP ( NN affiliate ) ( NNS relations ) ) ) ) ( VP ( MD may ) ( VP ( VB be ) ( ADJP-PRD ( JJ limited ) ) ) ) )

Even the boon to affiliate relations may be limited


( S ( NP-SBJ ( DT The ) ( NNS sports ) ( NN lineup ) ) ( VP ( MD may ) ( VP ( VB add ) ( NP ( QP ( RB only ) ( CD 1 ) ( NN % ) ( TO to ) ( CD 5 ) ( NN % ) ) ) ( PP-CLR ( TO to ) ( NP ( NP ( DT a ) ( NN station ) ( POS 's ) ) ( JJ annual ) ( NNS profits ) ) ) ) ) )

The sports lineup may add only 1 % to 5 % to a station 's annual profits


( S ( NP-SBJ-1 ( NP ( PRP It ) ) ( ADVP ( RB alone ) ) ) ( VP ( VBZ is ) ( RB n't ) ( ADJP-PRD ( JJ likely ) ( S ( VP ( TO to ) ( VP ( VB stop ) ( NP-2 ( DT a ) ( NN station ) ) ( PP-CLR ( IN from ) ( S-NOM ( VP ( VBG dumping ) ( NP ( NNP CBS ) ( NNS shows ) ) ) ) ) ) ) ) ) ) )

It alone is n't likely to stop a station from dumping CBS shows


( SINV ( S-TPC-2 ( NP-SBJ ( NP ( DT The ) ( NNP World ) ( NNP Series ) ) ( NP ( CD seven ) ( NNS nights ) ) ) ( VP ( VBD was ) ( RB n't ) ( ADJP-PRD ( RB enough ) ( PP ( IN of ) ( NP ( DT an ) ( NN incentive ) ) ) ) ) ) ( VP ( VBZ says ) ) ( NP-SBJ ( NP ( NNP Arnold ) ( NNP Klinsky ) ) ( PP ( IN of ) ( NP ( NP ( NNP WHEC-TV ) ) ( PP-LOC ( IN in ) ( NP ( NNP Rochester ) ) ) ( SBAR ( WHNP-1 ( WDT which ) ) ( S ( VP ( VBD dropped ) ( NP ( NNP CBS ) ) ( PP-CLR ( IN for ) ( NP ( NNP NBC ) ) ) ( ADVP-TMP ( NP ( CD six ) ( NNS weeks ) ) ( RB ago ) ) ) ) ) ) ) ) )

The World Series seven nights was n't enough of an incentive says Arnold Klinsky of WHEC-TV in Rochester which dropped CBS for NBC six weeks ago


( S ( NP-SBJ-1 ( PRP You ) ) ( VP ( VBP 've ) ( VP ( VBN got ) ( S ( VP ( TO to ) ( VP ( VB judge ) ( SBAR ( WHADVP-2 ( WRB where ) ) ( S ( NP-SBJ ( DT the ) ( NN network ) ) ( VP ( MD will ) ( VP ( VB be ) ( PP-TMP ( IN in ) ( NP ( CD three ) ( NNS years ) ) ) ) ) ) ) ) ) ) ) ) )

You 've got to judge where the network will be in three years


( S ( NP-SBJ ( DT The ) ( JJ intangible ) ( NNS benefits ) ) ( VP ( MD may ) ( VP ( VB prove ) ( ADJP-PRD ( RB extremely ) ( JJ costly ) ) ( SBAR-ADV ( IN if ) ( S ( NP-SBJ ( NNP CBS ) ) ( VP ( MD ca ) ( RB n't ) ( VP ( VB avoid ) ( NP ( NP ( JJ big ) ( NNS losses ) ) ( PP ( IN on ) ( NP ( NP ( DT the ) ( NNS sports ) ( NN coverage ) ) ( NP ( PRP itself ) ) ) ) ) ) ) ) ) ) ) )

The intangible benefits may prove extremely costly if CBS ca n't avoid big losses on the sports coverage itself


( S ( CC And ) ( S-NOM-SBJ ( VP ( VBG avoiding ) ( NP ( JJ such ) ( NNS losses ) ) ) ) ( VP ( MD will ) ( VP ( VB take ) ( NP ( DT a ) ( JJ monumental ) ( NN effort ) ) ) ) )

And avoiding such losses will take a monumental effort


( SINV ( S-TPC-1 ( PP ( IN On ) ( NP ( NP ( DT the ) ( ADJP ( QP ( CD 1.06 ) ( CD billion ) ) ) ( NN baseball ) ( NN agreement ) ) ( ADVP ( RB alone ) ) ) ) ( NP-SBJ-2 ( NNP CBS ) ) ( VP ( VBZ is ) ( ADJP-PRD ( JJ likely ) ( S ( VP ( TO to ) ( VP ( VB lose ) ( NP ( QP ( CD 250 ) ( CD million ) ) ) ( PP-TMP ( IN in ) ( NP ( CD four ) ( NNS years ) ) ) ) ) ) ) ) ) ( VP ( VBZ contends ) ) ( NP-SBJ ( NP ( NNP Mr. ) ( NNP Wussler ) ) ( NP ( DT the ) ( JJ former ) ( NNP CBS ) ( NN man ) ) ( RRC ( ADVP-TMP ( RB now ) ) ( PP-LOC ( IN at ) ( NP ( NNP Comsat ) ( NNP Inc ) ) ) ) ) )

On the 1.06 billion baseball agreement alone CBS is likely to lose 250 million in four years contends Mr. Wussler the former CBS man now at Comsat Inc


( S ( ADVP ( RB Nevertheless ) ) ( NP-SBJ ( PRP he ) ) ( VP ( VBZ deems ) ( S ( NP-SBJ ( DT the ) ( NN deal ) ) ( ADJP-PRD ( RB plain ) ( JJ smart ) ) ) ( PP ( IN for ) ( NP ( PRP$ its ) ( JJ huge ) ( JJ promotional ) ( NN value ) ) ) ) )

Nevertheless he deems the deal plain smart for its huge promotional value


( S ( NP-SBJ-1 ( NNP Mr. ) ( NNP Pilson ) ) ( VP ( VBZ calls ) ( S ( NP-SBJ ( IN that ) ( NN loss ) ( NN estimate ) ) ( ADJP-PRD ( RB wildly ) ( JJ inaccurate ) ) ) ( S-ADV ( VP ( VBG conceding ) ( ADVP ( RB only ) ) ( SBAR ( IN that ) ( S ( NP-SBJ ( NNP CBS ) ) ( VP ( MD will ) ( VP ( VB lose ) ( NP ( NN money ) ) ( PP-CLR ( IN on ) ( NP ( NN baseball ) ) ) ( PP-TMP ( IN in ) ( NP ( DT the ) ( JJ first ) ( NN year ) ) ) ) ) ) ) ) ) ) )

Mr. Pilson calls that loss estimate wildly inaccurate conceding only that CBS will lose money on baseball in the first year


( S ( S-TPC-2 ( NP-SBJ ( PRP It ) ) ( VP ( VBZ 's ) ( ADJP-PRD ( RB too ) ( JJ early ) ( S ( VP ( TO to ) ( VP ( VB tell ) ( SBAR ( WHNP-1 ( WP what ) ) ( S ( VP ( VBZ happens ) ( PP-TMP ( IN after ) ( NP ( DT that ) ) ) ) ) ) ) ) ) ) ) ) ( NP-SBJ ( PRP he ) ) ( VP ( VBZ says ) ) )

It 's too early to tell what happens after that he says


( S ( CC But ) ( S-TPC-1 ( NP-SBJ ( NNP Mr. ) ( NNP Tisch ) ) ( VP ( VBZ expects ) ( NP ( NNS losses ) ) ( PP-TMP ( IN in ) ( NP ( NP ( DT all ) ( CD four ) ( NNS years ) ) ( PP ( IN of ) ( NP ( DT the ) ( NN contract ) ) ) ) ) ) ) ( NP-SBJ ( PRP he ) ) ( VP ( VBD told ) ( NP ( NNP U.S. ) ( NNS senators ) ) ( NP-TMP ( JJ last ) ( NNP June ) ) ) )

But Mr. Tisch expects losses in all four years of the contract he told U.S. senators last June


( S ( S ( NP-SBJ ( NNP CBS ) ) ( VP ( MD will ) ( VP ( VB pay ) ( NP ( NP ( DT an ) ( NN average ) ) ( PP ( IN of ) ( NP ( NP ( NP-ADV ( QP ( CD 82 ) ( CD million ) ) ) ( JJR more ) ) ) ) ) ( NP-TMP ( DT each ) ( NN year ) ) ( SBAR-1 ( IN than ) ( S ( NP-SBJ ( NNP ABC ) ( CC and ) ( NNP NBC ) ) ( VP ( VBD had ) ( VP ( VBN paid ) ( ADVP ( RB together ) ) ) ) ) ) ) ) ) ( CC and ) ( S ( NP-SBJ ( DT those ) ( CD two ) ( NNS networks ) ) ( VP ( VBP expect ) ( NP ( NP ( NNS losses ) ) ( PP ( IN on ) ( NP ( NN baseball ) ) ) ) ( NP-TMP ( DT this ) ( NN season ) ) ) ) )

CBS will pay an average of 82 million more each year than ABC and NBC had paid together and those two networks expect losses on baseball this season


( S ( ADVP ( RB Yet ) ) ( NP-SBJ ( NNP CBS ) ) ( VP ( MD will ) ( VP ( VB air ) ( NP ( NP ( QP ( RB only ) ( CD 12 ) ) ( JJ regular-season ) ( NNS games ) ) ( ADJP ( ADJP ( NP-ADV ( CD 26 ) ) ( JJR fewer ) ) ( PP ( IN than ) ( NP ( NNP ABC ) ( CC and ) ( NNP NBC ) ) ) ) ) ) ) )

Yet CBS will air only 12 regular-season games 26 fewer than ABC and NBC


( S ( NP-SBJ ( DT That ) ) ( VP ( VBZ has ) ( VP ( VBN outraged ) ( NP ( DT some ) ( NNS fans ) ) ) ) )

That has outraged some fans


( S ( NP-SBJ ( PRP It ) ) ( ADVP ( RB also ) ) ( VP ( VBZ indicates ) ( NP ( NP ( NP ( DT a ) ( ADJP ( QP ( CD 50 ) ( CD million ) ) ) ( NN drop ) ) ( PP-LOC ( IN in ) ( NP ( NP ( NN ad ) ( NNS sales ) ) ( PP ( IN for ) ( NP ( JJ regular-season ) ( NNS games ) ) ) ) ) ) ( NP ( NP ( DT a ) ( NN risk ) ) ( SBAR ( S ( NP-SBJ-2 ( NNP CBS ) ) ( VP ( VBD took ) ( S-PRP ( VP ( TO to ) ( VP ( VB get ) ( NP ( NP ( DT an ) ( JJ unprecedented ) ( NN lock ) ) ( PP ( IN on ) ( NP ( DT all ) ( NN playoff ) ( NNS games ) ) ) ) ) ) ) ) ) ) ) ) ) )

It also indicates a 50 million drop in ad sales for regular-season games a risk CBS took to get an unprecedented lock on all playoff games


( S ( SBAR-ADV ( IN If ) ( S ( NP-SBJ ( DT the ) ( NNS playoffs ) ) ( VP ( VBP end ) ( PP-MNR ( IN in ) ( NP ( JJ four-game ) ( NNS sweeps ) ) ) ) ) ) ( NP-SBJ ( NNS losses ) ) ( VP ( MD could ) ( VP ( VB soar ) ) ) )

If the playoffs end in four-game sweeps losses could soar


( S ( NP-SBJ ( NNS Advertisers ) ) ( VP ( VBP are ) ( VP ( VBG resisting ) ( NP ( NP ( JJR higher ) ( NNS prices ) ) ( SBAR ( WHNP-1 ( WDT which ) ) ( S ( VP ( MD would ) ( VP ( VB help ) ( S ( VP ( VB close ) ( NP ( DT the ) ( NN gap ) ) ) ) ) ) ) ) ) ) ) )

Advertisers are resisting higher prices which would help close the gap


( S ( NP-SBJ ( NNP CBS ) ) ( VP ( VBD signed ) ( NP-1 ( NP ( NNP General ) ( NNPS Motors ) ) ( CC and ) ( NP ( NNP Toyota ) ) ) ( S-CLR ( VP ( TO to ) ( VP ( VB be ) ( NP-PRD ( NP ( DT the ) ( JJ only ) ( NN auto-maker ) ( NNS sponsors ) ) ( PP-LOC ( IN in ) ( NP ( NN baseball ) ) ) ) ( PP-TMP ( IN for ) ( NP ( CD four ) ( NNS years ) ) ) ) ) ) ) )

CBS signed General Motors and Toyota to be the only auto-maker sponsors in baseball for four years


( NP ( NP ( NN Price ) ) ( NP ( QP ( CD 265 ) ( CD million ) ) ) )

Price 265 million


( S ( CC But ) ( NP-SBJ ( NP ( NN ad ) ( NNS executives ) ) ( SBAR ( WHNP-1 ( WP who ) ) ( S ( VP ( VBD negotiated ) ( NP ( DT the ) ( NN deal ) ) ) ) ) ) ( VP ( VBP say ) ( SBAR ( S ( NP-SBJ ( WDT that ) ) ( VP ( VBZ works ) ( PRT ( RP out ) ) ( PP-CLR ( TO to ) ( NP ( NP ( NP ( QP ( RB only ) ( CD 275,000 ) ) ) ( PP ( IN for ) ( NP ( NP ( DT a ) ( JJ 30-second ) ( NN ad ) ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( NNP World ) ( NNP Series ) ) ) ) ) ( PP-TMP ( IN through ) ( NP ( CD 1993 ) ) ) ) ( ADJP ( ADJP ( NP-ADV ( CD 17 ) ( NN % ) ) ( JJR less ) ) ( PP ( IN than ) ( SBAR ( WHNP-2 ( WP what ) ) ( S ( NP-SBJ ( NNP ABC ) ) ( VP ( VBZ is ) ( VP ( VBG charging ) ( PP-CLR ( IN for ) ( NP ( DT the ) ( NNP Series ) ) ) ( NP-TMP ( DT this ) ( NN month ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

But ad executives who negotiated the deal say that works out to only 275,000 for a 30-second ad in the World Series through 1993 17 % less than what ABC is charging for the Series this month


( S ( ADVP ( RB Moreover ) ) ( S-TPC-1 ( NP-SBJ ( EX there ) ) ( VP ( VBZ 's ) ( NP-PRD ( DT no ) ( NN question ) ( SBAR ( S ( NP-SBJ ( NN ad ) ( NNS rates ) ) ( VP ( MD will ) ( VP ( VB come ) ( ADVP-DIR ( RP down ) ) ( ADVP-EXT ( RB considerably ) ) ( PP-DIR ( IN from ) ( NP ( DT the ) ( JJ GM-Toyota ) ( NN price ) ) ) ) ) ) ) ) ) ) ( VP ( VBZ says ) ) ( NP-SBJ ( NP ( NNP Arnold ) ( NNP Chase ) ) ( PP ( IN of ) ( NP ( NNP Bozell ) ( NNP Inc ) ) ) ) )

Moreover there 's no question ad rates will come down considerably from the GM-Toyota price says Arnold Chase of Bozell Inc


( S ( NP-SBJ ( JJ Other ) ( NNS admen ) ) ( ADVP ( RB however ) ) ( VP ( VBP say ) ( SBAR ( S ( NP-SBJ ( NNS rates ) ) ( VP ( MD could ) ( VP ( VB rise ) ( ADVP-TMP ( RB later ) ) ( SBAR-ADV ( IN if ) ( S ( NP-SBJ ( NN ad ) ( NN spending ) ) ( VP ( VBZ surges ) ) ) ) ) ) ) ) ) )

Other admen however say rates could rise later if ad spending surges


( S ( NP-SBJ ( DT The ) ( NNPS Winter ) ( NNPS Games ) ( NN outlook ) ) ( ADVP ( RB also ) ) ( VP ( VBZ is ) ( ADJP-PRD ( JJ mixed ) ) ) )

The Winter Games outlook also is mixed


( S ( S ( NP-SBJ-1 ( NNP CBS ) ) ( VP ( VBZ expects ) ( S ( VP ( TO to ) ( VP ( VB make ) ( NP ( JJ modest ) ( NNS profits ) ) ) ) ) ) ) ( CC but ) ( S ( NP-SBJ ( NNS rivals ) ) ( VP ( VBP contend ) ( SBAR ( IN that ) ( S ( NP-SBJ ( PRP it ) ) ( VP ( MD will ) ( VP ( VB take ) ( NP ( DT a ) ( NN beating ) ) ) ) ) ) ) ) )

CBS expects to make modest profits but rivals contend that it will take a beating


( S ( NP-SBJ ( NNP ABC ) ) ( VP ( VBD lost ) ( NP ( QP ( CD 75 ) ( CD million ) ) ) ( PP-CLR ( IN on ) ( NP ( DT the ) ( CD 1988 ) ( NNP Winter ) ( NNPS Games ) ) ) ( PP-PRP ( ADVP ( RB partly ) ) ( IN because ) ( IN of ) ( NP ( PRP$ its ) ( ADJP ( QP ( CD 309 ) ( CD million ) ) ) ( NNS rights ) ( NN fee ) ) ) ) )

ABC lost 75 million on the 1988 Winter Games partly because of its 309 million rights fee


( S ( NP-SBJ-1 ( PRP It ) ) ( VP ( VP ( VBD aired ) ( NP ( NP ( CD 94.5 ) ( NNS hours ) ) ( PP ( IN of ) ( NP ( NP ( ADJP ( RB mostly ) ( JJ live ) ) ( NNS events ) ) ( PP-LOC ( IN in ) ( NP ( NNP Calgary ) ) ) ) ) ) ( S-ADV ( VP ( VBG helping ) ( VP ( VB raise ) ( NP ( NNS ratings ) ) ( ADVP-EXT ( RB slightly ) ) ( PP-DIR ( IN from ) ( NP ( CD 1984 ) ) ) ) ) ) ) ( CC but ) ( VP ( ADVP ( RB still ) ) ( VBD failed ) ( S ( VP ( TO to ) ( VP ( VB deliver ) ( NP ( NP ( DT the ) ( NN audience ) ) ( VP ( VBN promised ) ( PP-DTV ( TO to ) ( NP ( NNS advertisers ) ) ) ) ) ) ) ) ) ) )

It aired 94.5 hours of mostly live events in Calgary helping raise ratings slightly from 1984 but still failed to deliver the audience promised to advertisers


( S ( S ( NP-SBJ ( NNP CBS ) ) ( VP ( MD will ) ( VP ( VB add ) ( NP ( CD 25 ) ( CD 1\/2 ) ( NNS hours ) ) ( PP-CLR ( TO to ) ( NP ( DT that ) ( NN load ) ) ) ( PP-TMP ( IN in ) ( NP ( CD 1992 ) ) ) ) ) ) ( CC and ) ( S ( NP-SBJ-1 ( NNS ratings ) ) ( VP ( MD could ) ( VP ( VB be ) ( VP ( VBN hurt ) ( PP ( IN by ) ( NP-LGS ( NP ( DT a ) ( NN lack ) ) ( PP ( IN of ) ( NP ( JJ live ) ( NNS events ) ) ) ) ) ) ) ) ) )

CBS will add 25 1\/2 hours to that load in 1992 and ratings could be hurt by a lack of live events


( S ( S ( NP-SBJ ( DT All ) ( JJ prime-time ) ( NN fare ) ) ( VP ( MD will ) ( VP ( VB be ) ( PP-PRD ( IN on ) ( NP ( NN tape-delay ) ) ) ( PP-PRP ( IN because ) ( IN of ) ( NP ( NP ( NN time ) ( NNS differences ) ) ( PP ( IN with ) ( NP ( NNP Norway ) ) ) ) ) ) ) ) ( RB so ) ( S ( NP-SBJ-1 ( DT the ) ( NNS results ) ) ( VP ( MD can ) ( VP ( VB be ) ( VP ( VBN announced ) ( PP-LOC ( IN on ) ( NP ( DT the ) ( CD 6 ) ( RB o'clock ) ( NN news ) ) ) ) ) ) ) )

All prime-time fare will be on tape-delay because of time differences with Norway so the results can be announced on the 6 o'clock news


( S ( NP-SBJ-1 ( NNP Turner ) ( NNP Broadcasting ) ) ( VP ( MD will ) ( VP ( VB pay ) ( NP ( NNP CBS ) ) ( NP ( QP ( CD 25 ) ( CD million ) ) ) ( S-PRP-CLR ( VP ( TO to ) ( VP ( NN air ) ( NP ( NP ( NP ( CD 50 ) ( NNS hours ) ) ( PP ( IN of ) ( NP ( NNP CBS ) ( NN coverage ) ) ) ) ( CC plus ) ( NP ( NP ( CD 50 ) ( NNS hours ) ) ( PP ( IN of ) ( NP ( JJ additional ) ( NNS events ) ) ) ) ) ) ) ) ) ) )

Turner Broadcasting will pay CBS 25 million to air 50 hours of CBS coverage plus 50 hours of additional events


( S ( NP-SBJ ( NP ( NNP Barry ) ( NNP Frank ) ) ( NP ( NP ( DT the ) ( NN agent ) ) ( SBAR ( WHNP-1 ( WP who ) ) ( S ( VP ( VBD took ) ( NP ( NNP Mr. ) ( NNP Pilson ) ) ( PP-CLR ( TO to ) ( NP ( VB lunch ) ) ) ( NP-TMP ( JJ last ) ( NNP March ) ) ) ) ) ) ) ( VP ( VBZ says ) ( SBAR ( IN that ) ( S ( SBAR-ADV ( RB even ) ( IN if ) ( S ( NP-SBJ ( NNP CBS ) ) ( VP ( VBZ loses ) ( INTJ ( VB say ) ) ( NP ( QP ( CD 10 ) ( CD million ) ) ) ) ) ) ( NP-SBJ ( PRP it ) ) ( VP ( VBZ matters ) ( ADVP ( JJ little ) ) ) ) ) ) )

Barry Frank the agent who took Mr. Pilson to lunch last March says that even if CBS loses say 10 million it matters little


( SINV ( S-TPC-2 ( NP-SBJ ( CD Ten ) ( CD million ) ) ( VP ( VBP ai ) ( RB n't ) ( NP-PRD ( NN jack ) ) ( INTJ ( UH man ) ) ( SBAR-TMP ( WHADVP-1 ( WRB when ) ) ( S ( NP-SBJ ( PRP you ) ) ( VP ( VBD got ) ( NP ( NP ( QP ( CD 3 ) ( CD billion ) ) ) ( VP ( VBG sitting ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( NN bank ) ) ) ) ) ) ) ) ) ) ( VP ( VBZ says ) ) ( NP-SBJ-3 ( NP ( NNP Mr. ) ( NNP Frank ) ) ( NP ( NP ( JJ senior ) ( NN vice ) ( NN president ) ) ( PP-LOC ( IN at ) ( NP ( NNP International ) ( NNP Management ) ( NNP Group ) ) ) ) ) ( S-ADV ( VP ( VBG citing ) ( NP ( NP ( NP ( NNP CBS ) ( POS 's ) ) ( JJ enormous ) ( NN cash ) ( NNS reserves ) ) ( PP ( IN from ) ( S-NOM ( VP ( VBG selling ) ( PRT ( RP off ) ) ( NP ( JJ various ) ( NNS businesses ) ) ) ) ) ) ) ) )

Ten million ai n't jack man when you got 3 billion sitting in the bank says Mr. Frank senior vice president at International Management Group citing CBS 's enormous cash reserves from selling off various businesses


( S ( S ( NP-SBJ ( PRP It ) ) ( VP ( VBZ does ) ( RB n't ) ( VP ( VB mean ) ( NP ( NN anything ) ) ) ) ) ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBZ 's ) ( NP-PRD ( JJ public-relations ) ( NN money ) ) ) ) )

It does n't mean anything it 's public-relations money


( SINV ( S-TPC-1 ( ADVP ( RB Moreover ) ) ( NP-SBJ ( NNS sports ) ) ( VP ( VBZ has ) ( VP ( VBN claimed ) ( NP ( NP ( PRP$ its ) ( NN place ) ) ( PP ( IN as ) ( NP ( DT a ) ( JJ guaranteed ) ( NN ratings-getter ) ) ) ) ) ) ) ( VP ( VBZ says ) ) ( NP-SBJ ( NP ( NNP David ) ( NNP J. ) ( NNP Stern ) ) ( NP ( NP ( DT the ) ( NN commissioner ) ) ( PP ( IN of ) ( NP ( DT the ) ( NNP National ) ( NNP Basketball ) ( NNP Association ) ) ) ) ) )

Moreover sports has claimed its place as a guaranteed ratings-getter says David J. Stern the commissioner of the National Basketball Association


( S ( S ( NP-SBJ ( DT This ) ) ( VP ( VBZ is ) ( RB n't ) ( NP-PRD ( JJ outlandish ) ( NN bidding ) ) ) ) ( S ( NP-SBJ ( DT this ) ) ( VP ( VBZ is ) ( NP-PRD ( NP ( DT a ) ( NN situation ) ) ( PP ( IN of ) ( S-NOM ( NP-SBJ ( ADJP ( RB very ) ( JJ careful ) ) ( NNS businessmen ) ) ( VP ( VP ( VBG making ) ( NP ( NP ( NNS judgments ) ) ( PP ( IN about ) ( NP ( NP ( DT the ) ( NN worth ) ) ( PP ( IN of ) ( NP ( NN product ) ) ) ) ) ) ) ( CC and ) ( VP ( VBG acting ) ( PP-CLR ( IN on ) ( NP ( PRP it ) ) ) ) ) ) ) ) ) ) )

This is n't outlandish bidding this is a situation of very careful businessmen making judgments about the worth of product and acting on it


( S ( NP-SBJ-1 ( PRP I ) ) ( VP ( MD would ) ( VP ( VB tend ) ( S ( VP ( TO to ) ( VP ( VB trust ) ( NP ( PRP$ their ) ( NN judgment ) ) ) ) ) ) ) )

I would tend to trust their judgment


( S ( S ( NP-SBJ ( DT That ) ) ( VP ( VBZ 's ) ( ADJP-PRD ( JJ easy ) ( SBAR ( IN for ) ( S ( NP-SBJ ( PRP him ) ) ( VP ( TO to ) ( VP ( VB say ) ) ) ) ) ) ) ) ( S ( NP-SBJ ( NP ( NP ( NNP CBS ) ( POS 's ) ) ( JJ four-year ) ( NNP NBA ) ( NN pact ) ) ( RRC ( ADVP-TMP ( RB now ) ) ( PP-LOC ( IN at ) ( NP ( NP ( QP ( CD 176 ) ( CD million ) ) ) ( PP ( IN for ) ( NP ( CD four ) ( NNS years ) ) ) ) ) ) ) ( VP ( MD could ) ( VP ( VB double ) ( PP ( IN in ) ( NP ( NN price ) ) ) ( PP-TMP ( IN by ) ( NP ( NP ( DT the ) ( NN time ) ) ( SBAR ( S ( NP-SBJ-1 ( NP ( PRP$ his ) ( NNS talks ) ) ( PP ( IN with ) ( NP ( NNP Mr. ) ( NNP Pilson ) ) ) ) ( VP ( VBP are ) ( VP ( VBN completed ) ) ) ) ) ) ) ( NP-TMP ( RBR later ) ( DT this ) ( NN month ) ) ) ) ) )

That 's easy for him to say CBS 's four-year NBA pact now at 176 million for four years could double in price by the time his talks with Mr. Pilson are completed later this month


( S ( NP-SBJ ( DT That ) ) ( VP ( MD would ) ( VP ( VB cut ) ( PP-CLR ( IN into ) ( NP ( NP ( NP ( NNP CBS ) ( POS 's ) ) ( JJ slim ) ( NN margin ) ) ( PP ( IN for ) ( NP ( NN profit ) ( CC and ) ( NN error ) ) ) ) ) ) ) )

That would cut into CBS 's slim margin for profit and error


( S ( NP-SBJ ( NNP CBS ) ( NNPS Sports ) ) ( VP ( VBD earned ) ( NP ( QP ( CD 50 ) ( CD million ) ( CC or ) ( RB so ) ) ) ( NP-TMP ( JJ last ) ( NN year ) ) ) )

CBS Sports earned 50 million or so last year


( S ( S ( CC And ) ( NP-SBJ ( NNP CBS ) ) ( VP ( VBZ takes ) ( PRT ( RP in ) ) ( NP ( DT the ) ( JJS least ) ( NN money ) ) ( PP-TMP ( IN in ) ( NP ( JJ prime ) ( NN time ) ) ) ) ) ( S ( NP-SBJ ( NNP ABC ) ( CC and ) ( NNP NBC ) ) ( VP ( VBP charge ) ( NP ( ADJP ( QP ( CD 30 ) ( NN % ) ( TO to ) ( CD 35 ) ( NN % ) ) ) ( JJR more ) ) ( PP-CLR ( IN for ) ( NP ( NNS ads ) ) ) ( PP ( VBG according ) ( PP ( TO to ) ( NP ( DT a ) ( NNP Variety ) ( NN survey ) ) ) ) ) ) )

And CBS takes in the least money in prime time ABC and NBC charge 30 % to 35 % more for ads according to a Variety survey


( S ( CC But ) ( S ( NP-SBJ ( NP ( NNP CBS ) ( POS 's ) ) ( NNS costs ) ) ( VP ( VBP are ) ( ADJP-PRD ( JJ huge ) ) ) ) ( CC and ) ( S ( NP-SBJ ( DT the ) ( NNS risks ) ) ( VP ( VBP go ) ( ADVP-DIR ( RB up ) ) ( PP ( IN with ) ( NP ( NP ( DT each ) ( JJ new ) ( NNS sports ) ( NN package ) ) ( SBAR ( WHNP-1 ( IN that ) ) ( S ( NP-SBJ ( NNP CBS ) ) ( VP ( VBZ locks ) ( PRT ( RP up ) ) ) ) ) ) ) ) ) )

But CBS 's costs are huge and the risks go up with each new sports package that CBS locks up


( S ( SBAR-ADV ( IN Although ) ( S ( NP-SBJ ( NNS sports ) ( NNS officials ) ) ( VP ( VBP predict ) ( NP ( NP ( NNS jumps ) ) ( PP ( IN of ) ( NP ( QP ( CD 50 ) ( NN % ) ( TO to ) ( CD 100 ) ( NN % ) ) ) ) ( PP-LOC ( IN in ) ( NP ( NP ( DT the ) ( JJ major ) ( NNS contracts ) ) ( VP ( VBG coming ) ( PRT ( RP up ) ) ( PP-CLR ( IN for ) ( NP ( NN renewal ) ) ) ) ) ) ) ) ) ) ( NP-SBJ ( NN ad ) ( NNS rates ) ) ( VP ( MD may ) ( VP ( VB rise ) ( NP ( QP ( RB only ) ( CD 20 ) ) ( NN % ) ) ) ) )

Although sports officials predict jumps of 50 % to 100 % in the major contracts coming up for renewal ad rates may rise only 20 %


( S ( NP-SBJ-1 ( NNP CBS ) ) ( VP ( VBZ hopes ) ( S ( VP ( TO to ) ( VP ( VB save ) ( NP ( NN money ) ) ( PP-MNR ( IN by ) ( S-NOM ( VP ( VBG ordering ) ( NP ( NP ( JJR fewer ) ( NNS episodes ) ) ( PP ( IN of ) ( NP ( JJ regular ) ( NN series ) ) ) ) ) ) ) ) ) ) ( SBAR-PRP ( IN because ) ( S ( NP-SBJ ( NNS sports ) ) ( VP ( MD will ) ( VP ( VB fill ) ( PRT ( RP up ) ) ( NP ( NP ( DT a ) ( JJ few ) ( NNS weeks ) ) ( PP ( IN of ) ( NP ( JJ prime ) ( NN time ) ) ) ) ) ) ) ) ) )

CBS hopes to save money by ordering fewer episodes of regular series because sports will fill up a few weeks of prime time


( S ( CC But ) ( NP-SBJ ( DT the ) ( NNS savings ) ) ( VP ( MD will ) ( VP ( VB be ) ( ADJP-PRD ( JJ minuscule ) ) ) ) )

But the savings will be minuscule


( S ( S ( NP-SBJ ( NP ( DT Each ) ( NN hour ) ) ( PP ( IN of ) ( NP ( NNPS Olympics ) ( CC and ) ( NN baseball ) ) ) ( PP-LOC ( IN in ) ( NP ( JJ prime ) ( NN time ) ) ) ) ( VP ( MD will ) ( VP ( VB cost ) ( NP ( NNP CBS ) ) ( NP ( QP ( CD 2.6 ) ( CD million ) ( TO to ) ( CD 2.8 ) ( CD million ) ) ) ) ) ) ( S ( S ( NP-SBJ ( DT an ) ( JJ hour-long ) ( NN drama ) ) ( VP ( VBZ costs ) ( NP ( QP ( RB only ) ( CD 900,000 ) ) ) ) ) ( CC and ) ( S ( NP-SBJ-1 ( PRP it ) ) ( VP ( VBZ is ) ( VP ( VBN aired ) ( ADVP ( RB twice ) ) ) ) ) ) )

Each hour of Olympics and baseball in prime time will cost CBS 2.6 million to 2.8 million an hour-long drama costs only 900,000 and it is aired twice


( S ( NP-SBJ ( NNP CBS ) ) ( VP ( MD may ) ( VP ( VB cushion ) ( NP ( NNS losses ) ) ( PP-MNR ( IN with ) ( NP ( NP ( QP ( IN about ) ( CD 200 ) ( CD million ) ) ) ( NP-ADV ( DT a ) ( NN year ) ) ( PP ( IN in ) ( NP ( NP ( NN interest ) ) ( VP ( VBN earned ) ( PP-CLR ( IN on ) ( NP ( NP ( DT the ) ( NNS proceeds ) ) ( PP ( IN from ) ( S-NOM ( VP ( VBG selling ) ( NP ( NP ( NNP CBS ) ( NNPS Records ) ) ( CC and ) ( NP ( JJ other ) ( NNS businesses ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

CBS may cushion losses with about 200 million a year in interest earned on the proceeds from selling CBS Records and other businesses


( S ( CC But ) ( NP-SBJ ( NP ( JJ media-stock ) ( NN analyst ) ( NNP Richard ) ( NNP J. ) ( NNP MacDonald ) ) ( PP ( IN of ) ( NP ( NNP MacDonald ) ( NNP Grippo ) ( NNP Riely ) ) ) ) ( VP ( VBZ says ) ( SBAR ( S ( NP-SBJ ( NNP Wall ) ( NNP Street ) ) ( VP ( MD wo ) ( RB n't ) ( VP ( VB take ) ( ADVP-CLR ( RB kindly ) ) ( PP-CLR ( TO to ) ( NP ( DT that ) ) ) ) ) ) ) ) )

But media-stock analyst Richard J. MacDonald of MacDonald Grippo Riely says Wall Street wo n't take kindly to that


( S ( S-TPC-2 ( PP ( IN On ) ( NP ( DT a ) ( JJ stand-alone ) ( NN basis ) ) ) ( NP-SBJ-1 ( DT the ) ( NN network ) ) ( VP ( MD ought ) ( S ( VP ( TO to ) ( VP ( VB make ) ( NP ( NN money ) ) ) ) ) ) ) ( NP-SBJ ( PRP he ) ) ( VP ( VBZ says ) ) )

On a stand-alone basis the network ought to make money he says


( S ( SBAR-TMP ( WHADVP-2 ( WRB When ) ) ( S ( NP-SBJ-1 ( NNP Mr. ) ( NNP Pilson ) ) ( VP ( VBZ is ) ( VP ( VBN asked ) ( ADVP-MNR ( RB directly ) ) ( SQ ( MD can ) ( NP-SBJ ( PRP you ) ) ( VP ( VB make ) ( NP ( NN money ) ) ( PP-CLR ( IN on ) ( NP ( PDT all ) ( DT this ) ) ) ) ) ) ) ) ) ( NP-SBJ ( PRP he ) ) ( VP ( VBZ does ) ( RB n't ) ( ADVP ( RB exactly ) ) ( VP ( VB say ) ( INTJ ( UH yes ) ) ) ) )

When Mr. Pilson is asked directly can you make money on all this he does n't exactly say yes


( S ( S-TPC-2 ( SBAR-NOM-SBJ ( WHNP-1 ( WP What ) ) ( S ( NP-SBJ ( PRP you ) ) ( VP ( VBP 're ) ( ADVP ( RB really ) ) ( VP ( VBG asking ) ) ) ) ) ( VP ( VBZ is ) ( SQ-PRD ( VBP Are ) ( NP-SBJ ( NP ( DT the ) ( NN profit ) ( CC and ) ( NN loss ) ( NNS margins ) ) ( VP ( VBN anticipated ) ( PP ( IN on ) ( NP ( DT the ) ( NNS events ) ) ) ) ) ( ADJP-PRD ( JJ acceptable ) ( PP ( TO to ) ( NP ( NN management ) ) ) ) ) ) ) ( NP-SBJ ( PRP he ) ) ( VP ( VBZ says ) ) )

What you 're really asking is Are the profit and loss margins anticipated on the events acceptable to management he says


( S ( ADVP-TMP ( RB Then ) ) ( NP-SBJ ( PRP he ) ) ( VP ( VBZ answers ) ( NP ( PRP$ his ) ( JJ own ) ( NN question ) ) ) )

Then he answers his own question


( S ( INTJ ( UH Yes ) ) ( NP-SBJ ( PRP they ) ) ( VP ( VBP are ) ) )

Yes they are


( S ( NP-SBJ ( DT That ) ) ( VP ( VBZ 's ) ( NP-PRD ( NP ( DT the ) ( JJ only ) ( NN question ) ) ( SBAR ( S ( NP-SBJ-2 ( PRP we ) ) ( VP ( VBP need ) ( S ( VP ( TO to ) ( VP ( VB address ) ) ) ) ) ) ) ) ) )

That 's the only question we need to address


( S ( NP-SBJ ( NP ( NNP Bay ) ( NNP Financial ) ( NNP Corp. ) ) ( NP-LOC ( NNP Boston ) ) ( SBAR ( WHNP-2 ( WDT which ) ) ( S ( VP ( VBZ has ) ( VP ( VBN been ) ( VP ( VP ( VBG reporting ) ( NP ( JJ big ) ( NNS losses ) ) ) ( CC and ) ( VP ( VBG warning ) ( PP-CLR ( IN of ) ( NP ( DT a ) ( JJ possible ) ( NN bankruptcy-law ) ( NN filing ) ) ) ) ) ) ) ) ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ-1 ( PRP it ) ) ( VP ( VBD was ) ( VP ( VBN sued ) ( PP ( IN by ) ( NP-LGS ( DT a ) ( NN holder ) ) ) ) ) ) ) ) )

Bay Financial Corp. Boston which has been reporting big losses and warning of a possible bankruptcy-law filing said it was sued by a holder


( S ( NP-SBJ ( DT The ) ( JJ real ) ( NN estate ) ( NN investment ) ( NN trust ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( DT the ) ( JJ purported ) ( NN class ) ( NN action ) ( NN suit ) ) ( VP ( VBZ seeks ) ( NP ( NP ( NNS damages ) ) ( CC and ) ( NP ( JJ other ) ( NNS remedies ) ) ) ( PP-LOC ( IN under ) ( NP ( NP ( JJ federal ) ( NNS securities ) ( NN law ) ) ( CC and ) ( NP ( NN state ) ( NN law ) ) ) ) ) ) ) ) )

The real estate investment trust said the purported class action suit seeks damages and other remedies under federal securities law and state law


( S ( NP-SBJ ( NP ( NNP Gerald ) ( NNP E. ) ( NNP Wilson ) ) ( NP ( NP ( JJ corporate ) ( NN secretary ) ) ( CC and ) ( NP ( JJ legal ) ( NN counsel ) ) ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( DT the ) ( NN company ) ) ( VP ( MD would ) ( RB n't ) ( VP ( VB disclose ) ( NP ( JJR further ) ( NNS details ) ) ) ) ) ) ) )

Gerald E. Wilson corporate secretary and legal counsel said the company would n't disclose further details


( S ( NP-SBJ-2 ( PRP He ) ) ( VP ( VBD declined ) ( S ( VP ( TO to ) ( VP ( VB name ) ( NP ( NP ( DT the ) ( NN shareholder ) ) ( NP ( NP ( DT the ) ( NN plaintiff ) ( POS 's ) ) ( NN lawyer ) ) ( CC or ) ( NP ( NP ( DT the ) ( NN court ) ) ( SBAR ( WHADVP-3 ( WRB where ) ) ( S ( NP-SBJ-1 ( DT the ) ( NN lawsuit ) ) ( VP ( VBD was ) ( VP ( VBN filed ) ) ) ) ) ) ) ) ) ) ) )

He declined to name the shareholder the plaintiff 's lawyer or the court where the lawsuit was filed


( S ( NP-SBJ ( NP ( NNP Bay ) ) ( SBAR ( WHNP-1 ( WDT which ) ) ( S ( VP ( VBZ has ) ( NP ( NP ( JJ substantial ) ( NNS investments ) ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( VBG floundering ) ( NNP Massachusetts ) ( NN market ) ) ) ) ) ) ) ) ( VP ( VBD reported ) ( NP ( NP ( DT a ) ( NN loss ) ) ( PP ( IN of ) ( NP ( NP ( QP ( CD 62 ) ( CD million ) ) ) ( CC or ) ( NP ( NP ( CD 15.97 ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ) ( PP ( IN for ) ( NP ( NP ( DT the ) ( JJ fiscal ) ( NN year ) ) ( VP ( VBN ended ) ( NP-TMP-CLR ( NNP June ) ( CD 30 ) ) ) ) ) ) ) )

Bay which has substantial investments in the floundering Massachusetts market reported a loss of 62 million or 15.97 a share for the fiscal year ended June 30


( S ( NP-SBJ ( PRP It ) ) ( VP ( VBZ has ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( PRP it ) ) ( VP ( MD might ) ( VP ( VB seek ) ( NP ( NP ( NN bankruptcy-court ) ( NN protection ) ) ( PP ( IN from ) ( NP ( NN creditor ) ( NNS lawsuits ) ) ) ) ( SBAR-ADV ( IN if ) ( S ( NP-SBJ ( PRP it ) ) ( VP ( MD ca ) ( RB n't ) ( VP ( VB renegotiate ) ( NP ( PRP$ its ) ( NNS borrowings ) ) ) ) ) ) ) ) ) ) ) ) )

It has said it might seek bankruptcy-court protection from creditor lawsuits if it ca n't renegotiate its borrowings


( S ( PP-LOC ( IN In ) ( NP ( NNP New ) ( NNP York ) ( NNP Stock ) ( NNP Exchange ) ( JJ composite ) ( NN trading ) ) ) ( NP-SBJ ( NNP Bay ) ) ( VP ( VBD closed ) ( PP-CLR ( IN at ) ( NP ( CD 2.625 ) ) ) ( ADVP ( RB down ) ( NP ( CD 25 ) ( NNS cents ) ) ) ) )

In New York Stock Exchange composite trading Bay closed at 2.625 down 25 cents


( S ( NP-SBJ ( JJ Former ) ( NNP USX ) ( NNP Corp. ) ( NNP Chairman ) ( NNP David ) ( NNP M. ) ( NNP Roderick ) ) ( VP ( MD may ) ( VP ( VB have ) ( VP ( VBN been ) ( ADJP-PRD ( JJ lucky ) ( SBAR ( S ( NP-SBJ ( PRP he ) ) ( VP ( VBD retired ) ( NP-TMP ( JJ last ) ( NNP May ) ) ) ) ) ) ) ) ) )

Former USX Corp. Chairman David M. Roderick may have been lucky he retired last May


( S ( SBAR-TMP ( IN As ) ( S ( NP-SBJ ( PRP he ) ) ( VP ( VBD handed ) ( PRT ( RP over ) ) ( NP ( DT the ) ( NNS reins ) ) ( PP-DTV ( TO to ) ( NP ( NN successor ) ( NNP Charles ) ( NN A. ) ( NNP Corry ) ) ) ) ) ) ( NP-SBJ ( NN steel ) ( NNS profits ) ) ( VP ( VBD were ) ( ADVP-LOC-PRD ( JJ close ) ( PP ( TO to ) ( NP ( DT a ) ( JJ cyclical ) ( NN peak ) ) ) ) ) )

As he handed over the reins to successor Charles A. Corry steel profits were close to a cyclical peak


( S ( S ( SBAR-ADV ( IN Though ) ( S ( NP-SBJ ( NNS imports ) ) ( VP ( VBD were ) ( ADJP-PRD ( JJ troublesome ) ) ) ) ) ( NP-SBJ ( PRP they ) ) ( VP ( VBD were ) ( RB n't ) ( VP ( VBG running ) ( ADVP ( RB away ) ) ( PP ( IN with ) ( NP ( DT the ) ( NN market ) ) ) ) ) ) ( CC and ) ( S ( NP-SBJ ( JJ American ) ( NNS companies ) ) ( VP ( VBD had ) ( NP ( JJ high ) ( NNS hopes ) ( SBAR ( IN that ) ( S ( NP-SBJ-1 ( NN steel ) ( NN import ) ( NNS quotas ) ) ( VP ( MD would ) ( VP ( VB be ) ( VP ( VBN extended ) ( PP-TMP ( IN for ) ( NP ( DT another ) ( CD five ) ( NNS years ) ) ) ) ) ) ) ) ) ) ) )

Though imports were troublesome they were n't running away with the market and American companies had high hopes that steel import quotas would be extended for another five years


( S ( ADJP-ADV ( RB Perhaps ) ( RBS most ) ( JJ important ) ) ( NP-SBJ-1 ( NP ( NNP Carl ) ( NNP Icahn ) ) ( SBAR ( WHNP-2 ( WP who ) ) ( S ( VP ( VBD had ) ( ADVP-TMP ( RB once ) ) ( VP ( VBN threatened ) ( NP ( DT a ) ( JJ hostile ) ( NN takeover ) ( NN bid ) ) ) ) ) ) ) ( VP ( VBD was ) ( VP ( VBN subdued ) ) ) )

Perhaps most important Carl Icahn who had once threatened a hostile takeover bid was subdued


( S ( NP-SBJ ( NP ( PRP He ) ) ( CC and ) ( NP ( NNP Mr. ) ( NNP Roderick ) ) ) ( VP ( VBD were ) ( ADVP ( RB even ) ) ( VP ( VBG dining ) ( PRT ( RP out ) ) ( ADVP-MNR ( RB together ) ) ) ) )

He and Mr. Roderick were even dining out together


( S ( NP-TMP ( NN Today ) ) ( NP-SBJ ( NNP Mr. ) ( NNP Corry ) ) ( VP ( VBZ presides ) ( PP-CLR ( IN over ) ( NP ( NP ( DT a ) ( NN company ) ) ( SBAR ( WHNP-1 ( WP$ whose ) ( NNS fortunes ) ) ( S ( VP ( VBP have ) ( VP ( VBN changed ) ( ADVP-MNR ( RB abruptly ) ) ) ) ) ) ) ) ) )

Today Mr. Corry presides over a company whose fortunes have changed abruptly


( S ( S ( NP-SBJ ( NP ( NNP Mr. ) ( NNP Icahn ) ) ( NP ( NP ( DT the ) ( NN company ) ( POS 's ) ) ( ADJP ( JJ deep-pocketed ) ) ( JJ tenacious ) ( NN adversary ) ) ) ( ADVP-TMP ( RB recently ) ) ( VP ( VBD disclosed ) ( SBAR ( IN that ) ( S ( NP-SBJ ( PRP he ) ) ( VP ( VBD had ) ( VP ( VBN raised ) ( NP ( PRP$ his ) ( NNP USX ) ( NN stake ) ) ( PP-DIR ( TO to ) ( NP ( CD 13.1 ) ( NN % ) ) ) ) ) ) ) ) ) ( CC and ) ( S ( NP-SBJ ( PRP he ) ) ( ADVP ( RB again ) ) ( VP ( VBD threatened ) ( NP ( DT a ) ( NN takeover ) ) ) ) )

Mr. Icahn the company 's deep-pocketed tenacious adversary recently disclosed that he had raised his USX stake to 13.1 % and he again threatened a takeover


( S ( NP-SBJ ( NP ( DT A ) ( NN battle ) ) ( PP ( IN with ) ( NP ( NNP Mr. ) ( NNP Icahn ) ) ) ) ( VP ( MD would ) ( VP ( VB rattle ) ( NP ( RB even ) ( DT the ) ( ADJP ( RBS most ) ( JJ seasoned ) ) ( JJ chief ) ( NN executive ) ) ( S-ADV ( VP ( TO to ) ( VP ( VB say ) ( NP ( NP ( NN nothing ) ) ( PP ( IN of ) ( NP ( NP ( NN one ) ) ( SBAR ( WHNP-1 ( WP who ) ) ( S ( VP ( VBD took ) ( NP ( DT the ) ( NN helm ) ) ( ADVP-TMP ( NP ( QP ( JJR less ) ( IN than ) ( CD five ) ) ( NNS months ) ) ( RB ago ) ) ) ) ) ) ) ) ) ) ) ) ) )

A battle with Mr. Icahn would rattle even the most seasoned chief executive to say nothing of one who took the helm less than five months ago


( S ( PP ( IN In ) ( NP ( NN addition ) ) ) ( NP-SBJ ( NP ( NP ( NNP USX ) ( POS 's ) ) ( JJ giant ) ( NN steel ) ( NN segment ) ) ( VP ( VBG representing ) ( NP ( NP ( CD 34 ) ( NN % ) ) ( PP ( IN of ) ( NP ( PRP$ its ) ( CD 1988 ) ( NNS sales ) ) ) ) ) ) ( VP ( VBZ is ) ( VP ( VBG facing ) ( NP ( NP ( NP ( VBG softening ) ( NN demand ) ) ( CC and ) ( NP ( VBG slipping ) ( NNS prices ) ) ) ( CONJP ( RB as ) ( RB well ) ( IN as ) ) ( NP ( NP ( VBG increasing ) ( NN competition ) ) ( PP ( IN from ) ( NP ( NP ( JJ foreign ) ( NNS steelmakers ) ) ( CC and ) ( NP ( JJ low-cost ) ( NNS minimills ) ) ) ) ) ) ) ) )

In addition USX 's giant steel segment representing 34 % of its 1988 sales is facing softening demand and slipping prices as well as increasing competition from foreign steelmakers and low-cost minimills


( S ( S ( NP-SBJ ( DT The ) ( NN import ) ( NNS quotas ) ) ( VP ( VBD got ) ( NP ( RB only ) ( DT a ) ( ADJP ( CD 2 ) ( JJ 1\/2-year ) ) ( NN extension ) ) ) ) ( CC and ) ( S ( NP-SBJ ( NNP USX ) ) ( VP ( VBZ is ) ( VP ( VBG laboring ) ( PP-LOC ( IN under ) ( NP ( DT a ) ( JJ staggering ) ( ADJP ( QP ( CD 5.8 ) ( CD billion ) ) ) ( NN debt ) ) ) ( PP-TMP ( IN at ) ( NP ( NP ( DT a ) ( NN time ) ) ( SBAR ( WHADVP-2 ( WRB when ) ) ( S ( NP-SBJ-1 ( PRP it ) ) ( VP ( MD must ) ( VP ( VB spend ) ( NP ( NN money ) ) ( S-PRP ( VP ( TO to ) ( VP ( VP ( VB upgrade ) ( NP ( NN steel ) ( NNS mills ) ) ) ( CC and ) ( VP ( VB drill ) ( PP-CLR ( IN for ) ( NP ( NN oil ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

The import quotas got only a 2 1\/2-year extension and USX is laboring under a staggering 5.8 billion debt at a time when it must spend money to upgrade steel mills and drill for oil


( SINV ( S-TPC-1 ( NP-SBJ ( PRP It ) ) ( VP ( VBZ 's ) ( NP-PRD ( NP ( DT a ) ( NN baptism ) ) ( PP ( IN of ) ( NP ( NN fire ) ) ) ) ( PP ( IN for ) ( NP ( NNP Corry ) ) ) ) ) ( VP ( VBZ says ) ) ( NP-SBJ ( CD one ) ( NNP USX ) ( NN executive ) ) )

It 's a baptism of fire for Corry says one USX executive


( S ( NP-SBJ ( DT The ) ( VBG burning ) ( NN question ) ) ( VP ( VBZ is ) ( SBAR-PRD ( IN whether ) ( S ( NP-SBJ-2 ( DT the ) ( JJ new ) ( NN chief ) ) ( VP ( MD can ) ( VP ( VB parry ) ( NP ( NNP Mr. ) ( NNP Icahn ) ) ( PP ( IN without ) ( S-NOM ( VP ( VBG being ) ( VP ( VBN pushed ) ( PP-DIR ( IN into ) ( NP ( JJ unwelcome ) ( NNS moves ) ) ) ) ) ) ) ) ) ) ) ) )

The burning question is whether the new chief can parry Mr. Icahn without being pushed into unwelcome moves


( S ( NP-SBJ-1 ( NNP Mr. ) ( NNP Corry ) ) ( VP ( MD might ) ( VP ( VB have ) ( S ( VP ( TO to ) ( VP ( VB dismember ) ( NP ( DT the ) ( NN company ) ) ( ADVP ( ADVP ( RBR more ) ) ( SBAR ( IN than ) ( S ( NP-SBJ-2 ( PRP he ) ) ( VP ( VBZ wants ) ( S ( VP ( TO to ) ) ) ) ) ) ) ) ) ) ) ) )

Mr. Corry might have to dismember the company more than he wants to


( S ( CC Or ) ( NP-SBJ-1 ( PRP he ) ) ( VP ( MD might ) ( VP ( VB have ) ( S ( VP ( TO to ) ( VP ( VB incur ) ( NP ( NP ( DT a ) ( JJ huge ) ( NN expense ) ) ( PP ( IN of ) ( S-NOM ( VP ( CC either ) ( VP ( VBG buying ) ( NP ( NP ( NNP Mr. ) ( NNP Icahn ) ( POS 's ) ) ( NN stock ) ) ( PP ( ADVP ( RB possibly ) ) ( IN at ) ( NP ( DT a ) ( JJ premium ) ) ) ) ( CC or ) ( VP ( VBG paying ) ( NP ( NNS stockholders ) ) ( NP ( DT a ) ( JJ special ) ( NN dividend ) ) ( PP-PRP ( ADVP ( RB partly ) ) ( IN because ) ( IN of ) ( NP ( NP ( NNP Mr. ) ( NNP Icahn ) ( POS 's ) ) ( NN pressure ) ) ) ) ) ) ) ) ) ) ) ) ) )

Or he might have to incur a huge expense of either buying Mr. Icahn 's stock possibly at a premium or paying stockholders a special dividend partly because of Mr. Icahn 's pressure


( S ( PP ( IN With ) ( NP ( NP ( PRP$ his ) ( JJ recent ) ( NNS purchases ) ) ( PP ( IN of ) ( NP ( NNP USX ) ( JJ common ) ( NN stock ) ) ) ) ) ( NP-SBJ ( NNP Mr. ) ( NNP Icahn ) ) ( VP ( VBD shattered ) ( NP ( NP ( DT a ) ( JJ three-year-old ) ( JJ unwritten ) ( JJ standstill ) ( NN agreement ) ) ( PP ( IN with ) ( NP ( NNP Mr. ) ( NNP Roderick ) ) ) ) ) )

With his recent purchases of USX common stock Mr. Icahn shattered a three-year-old unwritten standstill agreement with Mr. Roderick


( S ( PP-TMP ( IN In ) ( NP ( CD 1986 ) ) ) ( NP-SBJ ( NNP Mr. ) ( NNP Roderick ) ) ( ADVP-MNR ( RB adroitly ) ) ( VP ( VBD dodged ) ( NP ( NP ( NNP Mr. ) ( NNP Icahn ) ( POS 's ) ) ( JJ first ) ( NN bullet ) ) ( SBAR-TMP ( IN after ) ( S ( NP-SBJ ( DT the ) ( NN takeover ) ( NN specialist ) ) ( VP ( VBD had ) ( VP ( VBN built ) ( PRT ( RP up ) ) ( NP ( DT an ) ( ADJP ( CD 11.4 ) ( NN % ) ) ( NN stake ) ) ) ) ) ) ) )

In 1986 Mr. Roderick adroitly dodged Mr. Icahn 's first bullet after the takeover specialist had built up an 11.4 % stake


( S ( NP-SBJ-2 ( NNP Mr. ) ( NNP Roderick ) ) ( VP ( VBD did ) ( ADVP ( RB so ) ) ( PP-MNR ( IN by ) ( NP ( S-NOM ( VP ( VBG having ) ( S ( NP-SBJ ( NNP USX ) ) ( VP ( VB redeem ) ( NP ( NP ( DT a ) ( NN series ) ) ( PP ( IN of ) ( NP ( JJ guaranteed ) ( NNS notes ) ) ) ) ) ) ) ) ( NP ( NP ( DT a ) ( NN move ) ) ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( PP ( IN in ) ( NP ( NN effect ) ) ) ( VP ( VBD raised ) ( NP ( NP ( DT the ) ( NN cost ) ) ( PP ( IN of ) ( NP ( DT a ) ( ADJP ( QP ( CD 7.19 ) ( CD billion ) ) ) ( NNP Icahn ) ( NN bid ) ) ) ) ( PP-EXT ( IN by ) ( NP ( QP ( IN about ) ( CD 3 ) ( CD billion ) ) ) ) ) ) ) ) ) ) ) )

Mr. Roderick did so by having USX redeem a series of guaranteed notes a move that in effect raised the cost of a 7.19 billion Icahn bid by about 3 billion


( S ( CC And ) ( NP-SBJ-1 ( PRP he ) ) ( VP ( VBD managed ) ( S ( VP ( TO to ) ( VP ( VP ( VB fend ) ( PRT ( RP off ) ) ( NP ( JJ further ) ( NNS advances ) ) ) ( CC and ) ( VP ( ADVP ( RB even ) ) ( VB strike ) ( PRT ( RP up ) ) ( NP ( NP ( DT an ) ( JJ unlikely ) ( NN friendship ) ) ( PP ( IN with ) ( NP ( DT the ) ( NN interloper ) ) ) ) ) ) ) ) ) )

And he managed to fend off further advances and even strike up an unlikely friendship with the interloper


( S ( PP-LOC ( IN Over ) ( NP ( NP ( NNS dinners ) ) ( PP-LOC ( IN at ) ( NP ( NP ( NNP New ) ( NNP York ) ( POS 's ) ) ( NNP Sky ) ( NNP Club ) ( CC and ) ( NNP Links ) ( NNP Club ) ( NNS restaurants ) ) ) ) ) ( NP-SBJ ( NP ( DT the ) ( NN steel ) ( NN executive ) ) ( CC and ) ( NP ( DT the ) ( JJ big ) ( NN investor ) ) ) ( VP ( VBD talked ) ( NP ( NP ( NN steel ) ) ( NP ( JJ international ) ( NN trade ) ) ( CC and ) ( NP ( JJ thoroughbred ) ( NNS horses ) ) ) ) )

Over dinners at New York 's Sky Club and Links Club restaurants the steel executive and the big investor talked steel international trade and thoroughbred horses


( S ( NP-SBJ ( NP ( NNP Mr. ) ( NNP Corry ) ) ( SBAR ( WHNP-1 ( WP who ) ) ( S ( VP ( VBZ has ) ( VP ( VBN boned ) ( PRT ( RP up ) ) ( PP-CLR ( IN on ) ( NP ( JJ corporate ) ( NNS raiders ) ) ) ( PP-MNR ( IN by ) ( S-NOM ( VP ( VBG reading ) ( NP ( NP ( NNP T. ) ( NNP Boone ) ( NNP Pickens ) ( POS 's ) ) ( NN autobiography ) ) ) ) ) ) ) ) ) ) ( VP ( VBD had ) ( VP ( VBN hoped ) ( SBAR ( S ( NP-SBJ ( DT the ) ( NN detente ) ) ( VP ( MD would ) ( VP ( VB continue ) ) ) ) ) ) ) )

Mr. Corry who has boned up on corporate raiders by reading T. Boone Pickens 's autobiography had hoped the detente would continue


( S-2 ( NP-SBJ-1 ( PRP He ) ) ( VP ( VBD was ) ( ADJP-PRD ( JJ shocked ) ( PRN ( S ( NP-SBJ ( NNS associates ) ) ( VP ( VBP say ) ) ) ) ( S ( VP ( TO to ) ( VP ( VB learn ) ( PP-CLR ( IN of ) ( NP ( NP ( NNP Mr. ) ( NNP Icahn ) ( POS 's ) ) ( JJ new ) ( NN takeover ) ( NN threat ) ) ) ) ) ) ) ) )

He was shocked associates say to learn of Mr. Icahn 's new takeover threat


( S ( NP-SBJ-2 ( DT Both ) ( NNS men ) ) ( VP ( VBD declined ) ( S ( VP ( TO to ) ( VP ( VB be ) ( VP ( VBN interviewed ) ( PP-PRP ( IN for ) ( NP ( DT this ) ( NN article ) ) ) ) ) ) ) ) )

Both men declined to be interviewed for this article


( S ( CC But ) ( NP-SBJ ( DT the ) ( ADJP ( RB fiercely ) ( JJ competitive ) ) ( NNP Mr. ) ( NNP Corry ) ) ( ADVP-MNR ( RB quickly ) ) ( VP ( VBD showed ) ( SBAR ( S ( NP-SBJ ( PRP he ) ) ( VP ( VBZ 's ) ( NP-PRD ( DT no ) ( NN pushover ) ) ) ) ) ) )

But the fiercely competitive Mr. Corry quickly showed he 's no pushover


( S ( NP-SBJ-1 ( PRP He ) ) ( VP ( VP ( VBD huddled ) ( PP-CLR ( IN with ) ( NP ( NNS directors ) ) ) ( PP-LOC ( IN at ) ( NP ( DT a ) ( JJ special ) ( NN meeting ) ) ) ( ADVP-TMP ( NP ( CD two ) ( NNS weeks ) ) ( RB ago ) ) ) ( CC and ) ( VP ( VBD tried ) ( S ( VP ( TO to ) ( VP ( VB block ) ( NP ( PRP$ his ) ( NN opponent ) ) ) ) ) ) ) )

He huddled with directors at a special meeting two weeks ago and tried to block his opponent


( S ( SBAR-ADV ( IN Although ) ( S ( NP-SBJ ( DT the ) ( NN board ) ) ( VP ( VBD believed ) ( SBAR ( IN that ) ( S ( NP-SBJ-2 ( NNP Mr. ) ( NNP Icahn ) ) ( VP ( VBZ is ) ( ADJP-PRD ( ADJP ( RBR more ) ( JJ interested ) ( PP ( IN in ) ( S-NOM ( VP ( VBG talking ) ( NP ( DT the ) ( NN stock ) ( NN price ) ) ( ADVP-DIR ( RBR higher ) ) ) ) ) ) ( PP ( IN than ) ( S-NOM ( VP ( VBG acquiring ) ( NP ( NNP USX ) ) ) ) ) ) ) ) ) ) ) ) ( NP-SBJ ( PRP it ) ) ( VP ( VBD adopted ) ( NP ( NP ( DT a ) ( NN poison-pill ) ( NN defense ) ) ( SBAR ( S ( VP ( TO to ) ( VP ( VB be ) ( VP ( VBN swallowed ) ( SBAR-ADV ( IN if ) ( S ( NP-SBJ ( NN anyone ) ) ( VP ( VBZ amasses ) ( NP ( DT a ) ( ADJP ( CD 15 ) ( NN % ) ) ( NN stake ) ) ) ) ) ) ) ) ) ) ) ) )

Although the board believed that Mr. Icahn is more interested in talking the stock price higher than acquiring USX it adopted a poison-pill defense to be swallowed if anyone amasses a 15 % stake


( S ( ADVP-TMP ( RB Now ) ) ( NP-SBJ ( PRP it ) ) ( VP ( VBZ 's ) ( NP-PRD ( NP ( NNP Mr. ) ( NNP Icahn ) ( POS 's ) ) ( NN move ) ) ) )

Now it 's Mr. Icahn 's move


( SQ ( MD Will ) ( NP-SBJ-2 ( PRP he ) ) ( VP ( VB try ) ( S ( VP ( TO to ) ( VP ( VP ( VB gain ) ( NP ( NP ( NP ( DT a ) ( NN seat ) ) ( PP ( IN on ) ) ) ( CC or ) ( NP ( NP ( VB control ) ) ( PP ( IN of ) ) ) ( NP-1 ( DT the ) ( NN board ) ) ) ) ( CC and ) ( VP ( VB force ) ( NP ( NP ( DT a ) ( JJ radical ) ( NN split ) ) ( PP ( IN of ) ( NP ( NNP USX ) ) ) ( PP ( IN into ) ( NP ( JJ separate ) ( NN oil ) ( CC and ) ( NN steel ) ( NNS companies ) ) ) ) ) ) ) ) ) )

Will he try to gain a seat on or control of the board and force a radical split of USX into separate oil and steel companies


( SQ ( PP ( VBN Given ) ( NP ( NP ( DT the ) ( NN weakness ) ) ( PP ( IN of ) ( NP ( DT the ) ( NN junk-bond ) ( NN market ) ) ) ) ) ( MD can ) ( NP-SBJ ( PRP he ) ) ( VP ( VB finance ) ( NP ( DT a ) ( NN buy-out ) ) ) )

Given the weakness of the junk-bond market can he finance a buy-out


( S ( NP-SBJ-3 ( NNP Mr. ) ( NNP Icahn ) ) ( VP ( MD may ) ( RB not ) ( VP ( VB want ) ( S ( VP ( TO to ) ( VP ( VB sell ) ( PRT ( RB out ) ) ) ) ) ( SBAR-ADV ( IN unless ) ( S ( NP-SBJ ( PRP he ) ) ( VP ( MD can ) ( VP ( VB get ) ( NP ( NP ( NP ( DT a ) ( JJ special ) ( NN dividend ) ) ( ADJP ( JJ similar ) ( PP ( TO to ) ( NP ( NP ( NN one ) ) ( SBAR ( S ( NP-SBJ-4 ( PRP he ) ) ( VP ( VBD received ) ( PP-TMP ( IN before ) ( S-NOM ( VP ( VBG selling ) ( NP ( NP ( PRP$ his ) ( NN stake ) ) ( PP ( IN in ) ( NP ( NNP Texaco ) ( NNP Inc. ) ) ) ) ( PP-TMP ( IN in ) ( NP ( NNP June ) ) ) ) ) ) ) ) ) ) ) ) ) ( NP ( NP ( DT a ) ( NN coup ) ) ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( VP ( VBD gave ) ( NP ( PRP him ) ) ( NP ( NP ( JJ enough ) ( NN cash ) ) ( SBAR ( S ( VP ( TO to ) ( VP ( VB make ) ( NP ( PRP$ his ) ( NNP USX ) ( NN move ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Mr. Icahn may not want to sell out unless he can get a special dividend similar to one he received before selling his stake in Texaco Inc. in June a coup that gave him enough cash to make his USX move


( S ( CC And ) ( SBAR-ADV ( IN although ) ( S ( NP-SBJ-1 ( NP ( DT the ) ( JJ recent ) ( NN turmoil ) ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( NN stock ) ( CC and ) ( NN junk-bond ) ( NNS markets ) ) ) ) ( PP-MNR ( IN by ) ( S-NOM ( VP ( VBG making ) ( S ( NP-SBJ ( NP ( PRP it ) ) ) ( ADJP-PRD ( JJR harder ) ) ( S-2 ( VP ( TO to ) ( VP ( VB arrange ) ( NP ( NN takeover ) ( NN financing ) ) ) ) ) ) ) ) ) ( VP ( VBZ has ) ( VP ( VBN eased ) ( NP ( NP ( DT some ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( NN pressure ) ) ( PP ( IN on ) ( NP ( NNP Mr. ) ( NNP Corry ) ) ) ) ) ) ) ) ) ) ( NP-SBJ ( PRP it ) ) ( VP ( VBZ does ) ( RB n't ) ( VP ( VB end ) ( NP ( DT the ) ( NN takeover ) ( NN threat ) ) ) ) )

And although the recent turmoil in the stock and junk-bond markets by making it harder to arrange takeover financing has eased some of the pressure on Mr. Corry it does n't end the takeover threat


( S ( S-TPC-1 ( NP-SBJ ( PRP I ) ) ( VP ( VBP know ) ( SBAR ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBZ 's ) ( RB not ) ( ADVP-PRD ( RP over ) ) ) ) ) ) ) ( NP-SBJ-2 ( DT a ) ( JJ sober-faced ) ( NNP Mr. ) ( NNP Corry ) ) ( VP ( VBD acknowledged ) ( SBAR-TMP ( IN while ) ( S ( VP ( VP ( VBG greeting ) ( NP ( NN steel ) ( NNS suppliers ) ) ( PP-LOC ( IN in ) ( NP ( NNP New ) ( NNP York ) ) ) ( PP-TMP ( IN on ) ( NP ( NNP Oct. ) ( CD 12 ) ) ) ) ( CC and ) ( VP ( VBG inviting ) ( NP ( PRP them ) ) ( PP-CLR ( TO to ) ( NP ( NP ( DT a ) ( NN buffet ) ) ( PP ( IN of ) ( NP ( NN salmon ) ( CC and ) ( NN sushi ) ) ) ( PP ( IN in ) ( NP ( NP ( NN honor ) ) ( PP ( IN of ) ( NP ( NP ( NNP Kobe ) ( NNP Steel ) ( NNP Ltd. ) ) ( NP ( NP ( NP ( NNP USX ) ( POS 's ) ) ( NN partner ) ) ( PP-LOC ( IN in ) ( NP ( NP ( DT a ) ( NN steel ) ( NN mill ) ) ( PP-LOC ( IN in ) ( NP ( NNP Lorain ) ( NNP Ohio ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

I know it 's not over a sober-faced Mr. Corry acknowledged while greeting steel suppliers in New York on Oct. 12 and inviting them to a buffet of salmon and sushi in honor of Kobe Steel Ltd. USX 's partner in a steel mill in Lorain Ohio


( S ( PP ( IN In ) ( NP ( NN fact ) ) ) ( NP-SBJ ( PRP it ) ) ( VP ( VBZ 's ) ( ADVP ( RB barely ) ) ( VP ( VBN begun ) ( PP ( IN for ) ( NP ( NP ( NNP Mr. ) ( NNP Corry ) ) ( SBAR ( WHNP-1 ( WP who ) ) ( S ( VP ( VBZ faces ) ( NP ( JJ tough ) ( NNS decisions ) ) ( SBAR-TMP ( IN before ) ( S ( NP-SBJ ( PRP he ) ) ( VP ( VBZ has ) ( VP ( VBN had ) ( NP ( DT a ) ( NN chance ) ( S ( VP ( TO to ) ( VP ( VB get ) ( VP ( VBN settled ) ( PP-CLR ( IN into ) ( NP ( PRP$ his ) ( JJ new ) ( NN job ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

In fact it 's barely begun for Mr. Corry who faces tough decisions before he has had a chance to get settled into his new job


( SINV ( S-TPC-1 ( NP-SBJ ( PRP He ) ) ( VP ( VBZ 's ) ( PP-LOC-PRD ( IN in ) ( NP ( DT a ) ( JJ vulnerable ) ( NN position ) ) ) ( SBAR-PRP ( IN because ) ( S ( NP-SBJ ( PRP he ) ) ( VP ( VBZ has ) ( RB n't ) ( VP ( VBN established ) ( NP ( JJ much ) ( NN credibility ) ) ( PP-MNR ( IN on ) ( NP ( PRP$ his ) ( JJ own ) ) ) ) ) ) ) ) ) ( VP ( VBZ says ) ) ( NP-SBJ ( NP ( NNP Bryan ) ( NNP Jacoboski ) ) ( NP ( NP ( DT a ) ( NNS securities ) ( NN analyst ) ) ( PP-LOC ( IN at ) ( NP ( NNP PaineWebber ) ( NNP Inc ) ) ) ) ) )

He 's in a vulnerable position because he has n't established much credibility on his own says Bryan Jacoboski a securities analyst at PaineWebber Inc


( S ( NP-SBJ ( DT The ) ( JJ 57-year-old ) ( NN tax ) ( NN attorney ) ) ( ADVP-TMP ( RB never ) ) ( VP ( ADVP ( RB even ) ) ( VBD aspired ) ( PP-CLR ( TO to ) ( NP ( NP ( DT the ) ( NN job ) ) ( PP ( IN of ) ( NP ( JJ chief ) ( NN executive ) ) ) ) ) ) )

The 57-year-old tax attorney never even aspired to the job of chief executive


( S ( S-ADV ( NP-PRD ( NP ( DT An ) ( JJ undistinguished ) ( NN college ) ( NN student ) ) ( SBAR ( WHNP-1 ( WP who ) ) ( S ( VP ( VBD dabbled ) ( PP-CLR ( IN in ) ( NP ( NN zoology ) ) ) ( SBAR-TMP ( IN until ) ( S ( NP-SBJ ( PRP he ) ) ( VP ( VBD concluded ) ( SBAR ( IN that ) ( S ( NP-SBJ ( PRP he ) ) ( VP ( MD could ) ( RB n't ) ( VP ( VB stand ) ( VP ( VBG cutting ) ( PRT ( RP up ) ) ( NP ( NNS frogs ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ( NP-SBJ-3 ( NNP Mr. ) ( NNP Corry ) ) ( VP ( VBD wanted ) ( S ( VP ( TO to ) ( VP ( VB work ) ( PP-CLR ( IN for ) ( NP ( NP ( DT a ) ( JJ big ) ( NN company ) ) ( SBAR ( WHNP-2 ( DT that ) ) ( S ( VP ( MD could ) ( VP ( VB do ) ( NP ( JJ big ) ( NNS things ) ) ) ) ) ) ) ) ) ) ) ) )

An undistinguished college student who dabbled in zoology until he concluded that he could n't stand cutting up frogs Mr. Corry wanted to work for a big company that could do big things


( S ( CC But ) ( PP ( IN after ) ( S-NOM ( VP ( VBG joining ) ( NP ( NP ( DT the ) ( NN tax ) ( NN department ) ) ( PP ( IN of ) ( NP ( DT a ) ( NNP USX ) ( NN subsidiary ) ) ) ) ( ADVP-TMP ( NP ( CD 30 ) ( NNS years ) ) ( RB ago ) ) ) ) ) ( NP-SBJ-1 ( PRP he ) ) ( VP ( VBD set ) ( NP ( NP ( DT the ) ( JJ modest ) ( NN goal ) ) ( PP ( IN of ) ( S-NOM ( VP ( VBG becoming ) ( NP ( NN tax ) ( NN manager ) ) ( PP-TMP ( IN by ) ( NP ( NP ( DT the ) ( NN age ) ) ( PP ( IN of ) ( NP ( CD 46 ) ) ) ) ) ) ) ) ) ) )

But after joining the tax department of a USX subsidiary 30 years ago he set the modest goal of becoming tax manager by the age of 46


( S ( PP-TMP ( IN For ) ( NP ( NNS years ) ) ) ( NP-SBJ-1 ( PRP he ) ) ( ADVP-MNR ( RB quietly ) ) ( VP ( VBD stuck ) ( PP-CLR ( TO to ) ( NP ( DT the ) ( JJ back ) ( NN accounting ) ( NNS rooms ) ) ) ( S-ADV ( VP ( VBG wearing ) ( NP ( DT a ) ( NN hat ) ) ( PP-CLR ( TO to ) ( NP ( VB work ) ) ) ( SBAR-PRP ( IN because ) ( S ( NP-SBJ ( NP ( NN everyone ) ) ( ADJP ( RB else ) ) ) ( VP ( VBD did ) ) ) ) ) ) ) )

For years he quietly stuck to the back accounting rooms wearing a hat to work because everyone else did


( S ( S-TPC-1 ( NP-SBJ ( PRP I ) ) ( VP ( VBD was ) ( ADVP-TMP ( RB never ) ) ( NP-PRD ( DT a ) ( NN rebel ) ) ) ) ( NP-SBJ ( PRP he ) ) ( VP ( VBD said ) ( PP-LOC ( IN in ) ( NP ( DT an ) ( JJR earlier ) ( NN interview ) ) ) ) )

I was never a rebel he said in an earlier interview


( S ( NP-SBJ ( PRP I ) ) ( VP ( VBP do ) ( RB n't ) ( VP ( VB think ) ( SBAR ( S ( NP-SBJ ( NP ( JJS most ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( NNS people ) ) ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( VP ( VBP have ) ( VP ( VBN been ) ( PP-LOC-PRD ( IN around ) ( NP ( PRP me ) ) ) ) ) ) ) ) ) ) ( VP ( MD would ) ( ADVP-TMP ( RB ever ) ) ( VP ( VB say ) ( SBAR ( S ( NP-SBJ ( PRP they ) ) ( VP ( VBP 've ) ( VP ( VBN seen ) ( S ( NP-SBJ ( PRP me ) ) ( VP ( VP ( VB pound ) ( NP ( DT the ) ( NN table ) ) ) ( CC or ) ( VP ( VB get ) ( ADJP-PRD ( JJ angry ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

I do n't think most of the people that have been around me would ever say they 've seen me pound the table or get angry


( S ( ADVP ( CC Yet ) ) ( NP-SBJ-1 ( DT the ) ( JJ unassuming ) ( NNP Mr. ) ( NNP Corry ) ) ( VP ( VBD helped ) ( S ( VP ( VB chart ) ( NP ( NP ( NP ( NNP USX ) ( POS 's ) ) ( NN transition ) ) ( PP ( IN from ) ( NP ( JJ Big ) ( NN Steel ) ) ) ( PP ( TO to ) ( NP ( JJ Big ) ( NN Oil ) ) ) ) ) ) ) )

Yet the unassuming Mr. Corry helped chart USX 's transition from Big Steel to Big Oil


( S ( NP-SBJ ( PRP He ) ) ( VP ( VBD served ) ( PP-CLR ( IN as ) ( NP ( NP ( NNP Mr. ) ( NNP Roderick ) ( POS 's ) ) ( JJ front ) ( NN man ) ) ) ( PP-LOC ( IN in ) ( NP ( NP ( JJ tense ) ( NNS negotiations ) ) ( PP ( IN for ) ( NP ( NP ( DT the ) ( CD 1982 ) ( NN purchase ) ) ( PP ( IN of ) ( NP ( NNP Marathon ) ( NNP Oil ) ) ) ( PP ( IN for ) ( NP ( QP ( CD 5.9 ) ( CD billion ) ) ) ) ) ) ) ) ) )

He served as Mr. Roderick 's front man in tense negotiations for the 1982 purchase of Marathon Oil for 5.9 billion


( S ( ADVP ( RB Nevertheless ) ) ( NP-SBJ-2 ( NNP Mr. ) ( NNP Corry ) ) ( SBAR-TMP ( RB once ) ( S ( VP ( VBN named ) ( S ( NP-PRD ( JJ chief ) ( NN executive ) ) ) ) ) ) ( VP ( VBD did ) ( RB n't ) ( VP ( VB waste ) ( NP ( DT any ) ( NN time ) ) ( S-CLR ( VP ( VBG distancing ) ( NP ( PRP himself ) ) ( PP-CLR ( IN from ) ( NP ( NP ( PRP$ his ) ( JJ former ) ( NN boss ) ) ( SBAR ( WHNP-1 ( WP who ) ) ( S ( ADVP ( RB still ) ) ( VP ( VBZ has ) ( NP ( NP ( DT an ) ( NN office ) ) ( PP-LOC ( IN on ) ( NP ( NP ( DT the ) ( JJ 62nd ) ( NN floor ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( NNP USX ) ( NN tower ) ) ( PP-LOC ( IN in ) ( NP ( NNP Pittsburgh ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Nevertheless Mr. Corry once named chief executive did n't waste any time distancing himself from his former boss who still has an office on the 62nd floor of the USX tower in Pittsburgh


( S ( PP-TMP ( ADVP ( RB Soon ) ) ( IN after ) ( S-NOM ( VP ( VBG taking ) ( PRT ( RP over ) ) ( NP-TMP ( JJ last ) ( NNP June ) ) ) ) ) ( NP-SBJ-2 ( NNP Mr. ) ( NNP Corry ) ) ( VP ( VP ( VBD rescinded ) ( NP ( NP ( DT a ) ( NN pay ) ( NN cut ) ) ( VP ( VBN imposed ) ( PP-CLR ( IN on ) ( NP ( NN clerical ) ( NNS workers ) ) ) ) ) ) ( NP ( NP ( DT a ) ( NN move ) ) ( SBAR ( WHNP-1 ( IN that ) ) ( S ( NP-SBJ ( NNP Mr. ) ( NNP Roderick ) ) ( VP ( VBD had ) ( RB n't ) ( VP ( VBN made ) ( PP ( IN in ) ( NP ( NP ( NN spite ) ) ( PP ( IN of ) ( NP ( JJ improved ) ( NNS earnings ) ) ) ) ) ) ) ) ) ) ) )

Soon after taking over last June Mr. Corry rescinded a pay cut imposed on clerical workers a move that Mr. Roderick had n't made in spite of improved earnings


( S ( NP-SBJ ( NNP Mr. ) ( NNP Corry ) ) ( ADVP ( RB also ) ) ( VP ( VBD ruled ) ( SBAR ( IN that ) ( S ( NP-SBJ-1 ( DT all ) ( NN board ) ( NNS meetings ) ) ( VP ( MD would ) ( VP ( VB be ) ( VP ( VBN held ) ( PP-LOC ( IN in ) ( NP ( NP ( NNP Pittsburgh ) ) ( CONJP ( RB instead ) ( IN of ) ) ( NP ( NP ( NNP New ) ( NNP York ) ) ( CC or ) ( NP ( NP ( NNP Findlay ) ( NNP Ohio ) ) ( NP ( NP ( NNP Marathon ) ( POS 's ) ) ( NN home ) ) ) ) ) ) ) ) ) ) ) ) )

Mr. Corry also ruled that all board meetings would be held in Pittsburgh instead of New York or Findlay Ohio Marathon 's home


( S ( CC And ) ( NP-TMP ( RBR earlier ) ( DT this ) ( NN month ) ) ( NP-SBJ ( PRP he ) ) ( VP ( VBD announced ) ( NP ( NP ( DT the ) ( NN sale ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( NNS reserves ) ) ( PP ( IN of ) ( NP ( NP ( NNP Texas ) ( NNP Oil ) ( CC & ) ( NNP Gas ) ) ( SBAR ( WHNP-1 ( WDT which ) ) ( S ( VP ( VP ( VBD was ) ( VP ( VBN acquired ) ( ADVP-TMP ( NP ( CD three ) ( NNS years ) ) ( RB ago ) ) ) ) ( CC and ) ( VP ( VBZ has ) ( RB n't ) ( VP ( VBN posted ) ( NP ( DT any ) ( JJ significant ) ( NN operating ) ( NNS profits ) ) ( ADVP-TMP ( IN since ) ) ) ) ) ) ) ) ) ) ) ) ) )

And earlier this month he announced the sale of the reserves of Texas Oil & Gas which was acquired three years ago and has n't posted any significant operating profits since


( S ( NP-SBJ ( CD One ) ( JJ former ) ( NN executive ) ) ( VP ( VBZ says ) ( S ( NP-SBJ ( NP ( NN Nobody ) ) ) ( VP ( VBD wanted ) ( NP ( DT that ) ( NN deal ) ) ( PP-1 ( IN inside ) ( NP ( NNP USX ) ) ) ( PP-2 ( IN except ) ( NP ( NP ( NNP Dave ) ( NNP Roderick ) ) ( SBAR ( WHNP-3 ( WP who ) ) ( S ( VP ( VBD was ) ( NP-PRD ( NP ( DT a ) ( NN hunting ) ( CC and ) ( NN fishing ) ( NN buddy ) ) ( PP ( IN of ) ( NP ( NP ( NNP William ) ( NNP L. ) ( NNP Hutchison ) ) ( NP ( NP ( NN chairman ) ) ( PP ( IN of ) ( NP ( NNP Texas ) ( NNP Oil ) ( CC & ) ( NNP Gas ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

One former executive says Nobody wanted that deal inside USX except Dave Roderick who was a hunting and fishing buddy of William L. Hutchison chairman of Texas Oil & Gas


( S ( NP-SBJ ( DT The ) ( NN executive ) ) ( VP ( VBZ recalls ) ( S ( NP-SBJ ( NNP Mr. ) ( NNP Corry ) ) ( VP ( VBG whispering ) ( PP-CLR ( TO to ) ( NP ( PRP him ) ( CC and ) ( NNS others ) ) ) ( S ( S ( VP ( VB Remember ) ) ) ( S ( NP-SBJ ( DT this ) ) ( VP ( VBD was ) ( NP-PRD ( NP ( NNP Dave ) ( POS 's ) ) ( NN deal ) ) ) ) ) ) ) ) )

The executive recalls Mr. Corry whispering to him and others Remember this was Dave 's deal


( S ( SBAR-NOM-SBJ ( WHNP-1 ( WP What ) ) ( S ( VP ( VBD miffed ) ( NP ( JJ many ) ( NNP USX ) ( NNS executives ) ( CC and ) ( NNS shareholders ) ) ) ) ) ( VP ( VBD was ) ( SBAR-PRD ( IN that ) ( S ( NP-SBJ ( NP ( DT the ) ( NN acquisition ) ) ( PP ( IN for ) ( NP ( NP ( QP ( CD 3 ) ( CD billion ) ) ) ( PP ( IN of ) ( NP ( NN stock ) ) ) ) ) ) ( VP ( VP ( VBD doubled ) ( NP ( NP ( DT the ) ( NNP USX ) ( NNS shares ) ) ( ADJP ( JJ outstanding ) ) ) ) ( CC and ) ( VP ( ADVP-EXT ( RB considerably ) ) ( VBD diluted ) ( NP ( PRP them ) ) ) ) ) ) ) )

What miffed many USX executives and shareholders was that the acquisition for 3 billion of stock doubled the USX shares outstanding and considerably diluted them


( S ( SBAR-ADV ( WHNP-1 ( WP What ) ) ( S ( VP ( VBZ 's ) ( ADJP-PRD ( JJR more ) ) ) ) ) ( NP-SBJ ( DT the ) ( NN takeover ) ) ( VP ( VBD occurred ) ( SBAR-TMP ( SBAR ( IN as ) ( S ( NP-SBJ ( NN natural-gas ) ( NNS prices ) ) ( VP ( VBD were ) ( VP ( VBG falling ) ) ) ) ) ( CC and ) ( SBAR ( RB just ) ( IN as ) ( S ( NP-SBJ ( NNP Texas ) ( NNP Oil ) ( CC & ) ( NNP Gas ) ) ( VP ( VBD reported ) ( NP ( NP ( PRP$ its ) ( JJ first ) ( JJ annual ) ( NN loss ) ) ( PP-TMP ( IN in ) ( NP ( CD 28 ) ( NNS years ) ) ) ) ) ) ) ) ) )

What 's more the takeover occurred as natural-gas prices were falling and just as Texas Oil & Gas reported its first annual loss in 28 years


( S ( NP-SBJ ( NNP Mr. ) ( NNP Corry ) ) ( VP ( VBD expected ) ( S ( NP-SBJ-1 ( DT the ) ( NNP Texas ) ( NNP Oil ) ( CC & ) ( NNP Gas ) ( NN sale ) ) ( VP ( TO to ) ( VP ( VB delight ) ( NP ( NNP Mr. ) ( NNP Icahn ) ) ( PP-MNR ( IN by ) ( S-NOM ( VP ( VBG addressing ) ( NP ( NP ( PRP$ his ) ( NN concern ) ) ( PP ( IN about ) ( S-NOM ( VP ( VBG boosting ) ( NP ( NN shareholder ) ( NN value ) ) ) ) ) ) ) ) ) ) ) ) ) )

Mr. Corry expected the Texas Oil & Gas sale to delight Mr. Icahn by addressing his concern about boosting shareholder value


( S ( CC But ) ( SBAR-TMP ( WHADVP-1 ( WRB when ) ) ( S ( NP-SBJ ( DT the ) ( CD two ) ( NNS men ) ) ( VP ( VBD met ) ( PP-LOC ( IN in ) ( NP ( NNP New ) ( NNP York ) ) ) ( SBAR-TMP ( NP-ADV ( DT a ) ( NN day ) ) ( IN after ) ( S ( NP-SBJ ( NNP Mr. ) ( NNP Icahn ) ) ( VP ( VBD disclosed ) ( NP ( NP ( DT the ) ( NN rise ) ) ( PP-LOC ( IN in ) ( NP ( PRP$ his ) ( NNP USX ) ( NN stake ) ) ) ) ) ) ) ) ) ) ( NP-SBJ ( NNP Mr. ) ( NNP Corry ) ) ( VP ( VBD learned ) ( SBAR ( IN that ) ( S ( NP-SBJ ( NNP Mr. ) ( NNP Icahn ) ) ( VP ( VBD wanted ) ( S ( NP-SBJ ( PRP him ) ) ( VP ( TO to ) ( VP ( VB sell ) ( NP ( NP ( NP ( DT all ) ) ( PP ( IN of ) ( NP ( NNP Texas ) ( NNP Oil ) ) ) ) ( NP ( CONJP ( RB not ) ( RB just ) ) ( NP ( NP ( PRP$ its ) ( NNS reserves ) ) ( PP ( IN of ) ( NP ( ADVP ( IN about ) ) ( NP ( NP ( QP ( CD 1.2 ) ( CD trillion ) ) ( JJ cubic ) ( NNS feet ) ) ( PP ( IN of ) ( NP ( JJ natural ) ( NN gas ) ) ) ) ( CC and ) ( NP ( NP ( QP ( CD 28 ) ( CD million ) ) ( NNS barrels ) ) ( PP ( IN of ) ( NP ( NN oil ) ) ) ) ) ) ) ( CONJP ( CC but ) ( RB also ) ) ( NP ( PRP$ its ) ( NN pipeline ) ( VBG gas-gathering ) ( CC and ) ( VBG contract-drilling ) ( NNS operations ) ) ) ) ) ) ) ) ) ) ) )

But when the two men met in New York a day after Mr. Icahn disclosed the rise in his USX stake Mr. Corry learned that Mr. Icahn wanted him to sell all of Texas Oil not just its reserves of about 1.2 trillion cubic feet of natural gas and 28 million barrels of oil but also its pipeline gas-gathering and contract-drilling operations


( S ( NP-SBJ ( DT That ) ) ( VP ( MD would ) ( VP ( VB leave ) ( NP ( NNP USX ) ) ( PP-CLR ( IN with ) ( NP ( NP ( NNP Marathon ) ) ( NP ( PRP$ its ) ( NN steel ) ( NNS mills ) ) ( CC and ) ( NP ( NP ( PRP$ its ) ( JJ diversified ) ( NN business ) ( NN segment ) ) ( SBAR ( WHNP-1 ( WDT which ) ) ( S ( VP ( VBZ includes ) ( PRN ( PP ( IN among ) ( NP ( JJ other ) ( NNS things ) ) ) ) ( NP ( NN mineral ) ( CC and ) ( NN transportation ) ( NNS products ) ) ) ) ) ) ) ) ) ) )

That would leave USX with Marathon its steel mills and its diversified business segment which includes among other things mineral and transportation products


( S ( NP-SBJ ( DT Some ) ) ( VP ( VBP speculate ) ( SBAR ( IN that ) ( S ( NP-SBJ ( NNP Mr. ) ( NNP Corry ) ) ( VP ( MD would ) ( VP ( VB agree ) ( SBAR-ADV ( IN if ) ( S ( NP-SBJ ( PRP he ) ) ( VP ( MD could ) ( VP ( VB find ) ( NP ( DT a ) ( NN buyer ) ) ( PP-CLR ( IN at ) ( NP ( DT the ) ( JJ right ) ( NN price ) ) ) ) ) ) ) ) ) ) ) ) )

Some speculate that Mr. Corry would agree if he could find a buyer at the right price


( S ( NP-SBJ ( DT The ) ( NN problem ) ) ( VP ( VBZ is ) ( SBAR-PRD ( DT that ) ( S ( NP-SBJ ( NNP Mr. ) ( NNP Icahn ) ) ( VP ( VBZ is ) ( VP ( VBG pushing ) ( S ( NP-SBJ-1 ( PRP him ) ) ( VP ( TO to ) ( VP ( VB move ) ( ADVP ( ADVP ( ADVP-MNR ( RBR faster ) ) ( CC and ) ( ADVP-EXT ( RBR further ) ) ) ) ( PP-LOC ( IN in ) ( S-NOM ( VP ( VBG restructuring ) ( NP ( NNP USX ) ) ) ) ) ( SBAR-2 ( IN than ) ( S ( NP-SBJ ( NNP Mr. ) ( NNP Corry ) ) ( VP ( VBD had ) ( VP ( VBN planned ) ) ) ) ) ) ) ) ) ) ) ) ) )

The problem is that Mr. Icahn is pushing him to move faster and further in restructuring USX than Mr. Corry had planned


( S-2 ( NP-SBJ ( NNP Mr. ) ( NNP Icahn ) ) ( VP ( VBZ has ) ( ADVP-TMP ( RB long ) ) ( VP ( VBN believed ) ( PRN ( S ( NP-SBJ ( NNS associates ) ) ( VP ( VBP say ) ) ) ) ( SBAR ( IN that ) ( S ( NP-SBJ-3 ( NP ( DT the ) ( NN company ) ) ( SBAR ( WHNP-1 ( WP$ whose ) ( CD 1988 ) ( NNS sales ) ) ( S ( VP ( VBD totaled ) ( NP ( QP ( CD 16.88 ) ( CD billion ) ) ) ) ) ) ) ( VP ( VBZ is ) ( PP-PRD ( JJ worth ) ( NP ( NP ( CD 70 ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ( SBAR-ADV ( IN if ) ( S ( VP ( VBN broken ) ( PRT ( RP up ) ) ) ) ) ) ) ) ) ) )

Mr. Icahn has long believed associates say that the company whose 1988 sales totaled 16.88 billion is worth 70 a share if broken up


( S ( NP-SBJ ( DT The ) ( NN stock ) ) ( VP ( VBD closed ) ( NP-TMP ( NN yesterday ) ) ( PP-CLR ( IN at ) ( NP ( CD 33.625 ) ) ) ( S-ADV ( VP ( VBG giving ) ( NP ( NP ( NNP Mr. ) ( NNP Icahn ) ( POS 's ) ) ( QP ( CD 33.6 ) ( CD million ) ) ( NNS shares ) ) ( NP ( NP ( DT a ) ( NN value ) ) ( PP ( IN of ) ( NP ( QP ( CD 1.13 ) ( CD billion ) ) ) ) ) ) ) ) )

The stock closed yesterday at 33.625 giving Mr. Icahn 's 33.6 million shares a value of 1.13 billion


( S ( S ( NP-SBJ ( NNP Mr. ) ( NNP Icahn ) ) ( VP ( VBZ advocates ) ( NP ( NP ( DT the ) ( NN sale ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( NN company ) ( POS 's ) ) ( NN steel ) ( NNS operations ) ) ) ) ) ) ( CC and ) ( S ( NP-SBJ ( NNP Mr. ) ( NNP Corry ) ) ( VP ( VBZ does ) ( RB n't ) ( ADVP ( RB necessarily ) ) ( VP ( VB disagree ) ) ) ) )

Mr. Icahn advocates the sale of the company 's steel operations and Mr. Corry does n't necessarily disagree


( S ( S-TPC-3 ( PP ( IN Unlike ) ( NP ( NP ( PRP$ his ) ( NN predecessor ) ) ( SBAR ( WHNP-1 ( WP who ) ) ( S ( VP ( VBD saw ) ( NP ( NN steel ) ) ( PP-CLR ( IN as ) ( NP ( NP ( NNP America ) ( POS 's ) ) ( NN backbone ) ) ) ) ) ) ) ) ( NP-SBJ-2 ( NNP Mr. ) ( NNP Corry ) ) ( VP ( VBZ tends ) ( S ( VP ( TO to ) ( VP ( VB view ) ( NP ( PRP it ) ) ( PP-CLR ( IN as ) ( NP ( NP ( DT a ) ( ADJP ( VBG capital-draining ) ( CC and ) ( JJ labor-intensive ) ) ( NN business ) ) ( PP ( IN with ) ( NP ( JJ limited ) ( NN potential ) ) ) ) ) ) ) ) ) ) ( NP-SBJ ( NNS associates ) ) ( VP ( VBP say ) ) )

Unlike his predecessor who saw steel as America 's backbone Mr. Corry tends to view it as a capital-draining and labor-intensive business with limited potential associates say


( S ( PP-TMP ( IN In ) ( NP ( DT the ) ( JJ past ) ( CD five ) ( NNS years ) ) ) ( NP-SBJ-1 ( NNP USX ) ) ( VP ( VBZ has ) ( VP ( VBN turned ) ( NP-PRD ( NN steel ) ) ( PP-CLR ( IN into ) ( NP ( DT a ) ( NN profit ) ( NN maker ) ) ) ( PP-MNR ( IN by ) ( S-NOM ( VP ( VP ( VBG closing ) ( NP ( JJ several ) ( NNS plants ) ) ) ( CC and ) ( VP ( VBG reducing ) ( NP ( NN labor ) ( NNS costs ) ) ) ) ) ) ) ) )

In the past five years USX has turned steel into a profit maker by closing several plants and reducing labor costs


( S ( CC But ) ( NP-SBJ ( DT the ) ( JJ short-term ) ( NN outlook ) ) ( VP ( VBZ is ) ( ADJP-PRD ( JJ so-so ) ) ) )

But the short-term outlook is so-so


( S ( NP-SBJ ( NP ( PRP It ) ) ) ( VP ( VBZ is ) ( RB n't ) ( ADJP-PRD ( JJ surprising ) ) ( SBAR-2 ( IN that ) ( S ( NP-SBJ ( NNPS Messrs. ) ( NNP Roderick ) ( CC and ) ( NNP Corry ) ) ( VP ( VBP view ) ( NP ( NN steel ) ) ( ADVP-MNR ( RB so ) ( RB differently ) ) ) ) ) ) )

It is n't surprising that Messrs. Roderick and Corry view steel so differently


( S ( SBAR-ADV ( IN While ) ( S ( NP-SBJ-1 ( NNP Mr. ) ( NNP Roderick ) ) ( VP ( VBD was ) ( VP ( VBN reared ) ( PP-LOC ( IN in ) ( NP ( NP ( DT the ) ( NNS shadows ) ) ( PP ( IN of ) ( NP ( NP ( NNP Pittsburgh ) ( POS 's ) ) ( VBG smoking ) ( NNS mills ) ) ) ) ) ) ) ) ) ( NP-SBJ ( NNP Mr. ) ( NNP Corry ) ) ( VP ( VBD grew ) ( PRT ( RP up ) ) ( PP-LOC ( IN in ) ( NP ( NP ( NNP Cincinnati ) ) ( NP ( NP ( DT a ) ( NN city ) ) ( UCP ( VP ( VBN nicknamed ) ( NP ( NNP Porkapolis ) ) ) ( CC and ) ( ADJP ( ADJP ( RBR more ) ( JJ accustomed ) ( PP ( TO to ) ( NP ( NN pork ) ( NNS chops ) ) ) ) ( PP ( IN than ) ( NP ( NN pig ) ( NN iron ) ) ) ) ) ) ) ) ) )

While Mr. Roderick was reared in the shadows of Pittsburgh 's smoking mills Mr. Corry grew up in Cincinnati a city nicknamed Porkapolis and more accustomed to pork chops than pig iron


( S ( NP-SBJ ( PRP He ) ) ( VP ( VBZ has ) ( ADVP-TMP ( RB never ) ) ( VP ( VP ( VBN met ) ( NP ( NP ( NNP Lynn ) ( NNP Williams ) ) ( NP ( NP ( DT the ) ( NN president ) ) ( PP ( IN of ) ( NP ( DT the ) ( NNP United ) ( NNPS Steelworkers ) ( NN union ) ) ) ) ) ) ( CC and ) ( VP ( VBZ is ) ( RB n't ) ( ADJP-PRD ( JJ active ) ) ( PP-LOC ( IN in ) ( NP ( NP ( NP ( DT the ) ( NN industry ) ( POS 's ) ) ( JJ main ) ( NN trade ) ( NN group ) ) ( NP ( NP ( DT the ) ( NNP American ) ( NNP Iron ) ( CC and ) ( NNP Steel ) ( NNP Institute ) ) ( SBAR ( WHNP-1 ( WDT which ) ) ( S ( NP-SBJ ( NNP Mr. ) ( NNP Roderick ) ) ( VP ( VBD served ) ( PP-CLR ( IN as ) ( NP ( NN chairman ) ) ) ) ) ) ) ) ) ) ) ) )

He has never met Lynn Williams the president of the United Steelworkers union and is n't active in the industry 's main trade group the American Iron and Steel Institute which Mr. Roderick served as chairman


( S ( S-TPC-2 ( S ( NP-SBJ ( NNP Dave ) ) ( VP ( VBD thought ) ( SBAR ( S ( NP-SBJ ( DT the ) ( NN country ) ) ( VP ( VBD needed ) ( NP ( DT a ) ( JJ strong ) ( NNP U.S. ) ( NNP Steel ) ) ) ) ) ) ) ( CC and ) ( S ( SBAR-ADV ( IN while ) ( S ( NP-SBJ ( NNP Chuck ) ) ( VP ( VBD agreed ) ) ) ) ( NP-SBJ-1 ( PRP he ) ) ( VP ( VBD was ) ( ADJP-PRD ( RBR more ) ( JJ apt ) ( S ( VP ( TO to ) ( VP ( VB say ) ( FRAG ( RB Not ) ( PP ( IN at ) ( NP ( NP ( DT any ) ( NN cost ) ) ( PP ( TO to ) ( NP ( NNS shareholders ) ) ) ) ) ) ) ) ) ) ) ) ) ( NP-SBJ ( DT a ) ( JJ former ) ( NN executive ) ) ( VP ( VBZ says ) ) )

Dave thought the country needed a strong U.S. Steel and while Chuck agreed he was more apt to say Not at any cost to shareholders a former executive says


( S ( ADVP ( RB Indeed ) ) ( NP-SBJ ( NNP Mr. ) ( NNP Corry ) ) ( PP-LOC ( IN at ) ( NP ( DT an ) ( NNP August ) ( NN press ) ( NN conference ) ) ) ( VP ( VBD talked ) ( PP-CLR ( IN about ) ( S-NOM ( VP ( VBG investing ) ( PP-CLR ( IN in ) ( NP ( NN steel ) ) ) ( ADVP-TMP ( ADVP ( ADVP ( RB as ) ( RB long ) ) ( SBAR ( IN as ) ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBZ provides ) ( NP ( DT a ) ( JJ good ) ( NN return ) ) ) ) ) ) ( CC and ) ( ADVP ( NP-ADV ( RB not ) ( DT a ) ( NN day ) ) ( RB longer ) ) ) ) ) ) ) )

Indeed Mr. Corry at an August press conference talked about investing in steel as long as it provides a good return and not a day longer


( S ( ADVP ( RB However ) ) ( S ( S-NOM-SBJ ( VP ( VBG shedding ) ( NP ( NN steel ) ) ) ) ( VP ( MD would ) ( VP ( VB run ) ( ADVP ( RB directly ) ( RB counter ) ( PP ( TO to ) ( NP ( NP ( NP ( NP ( NNP Mr. ) ( NNP Roderick ) ( POS 's ) ) ( JJ original ) ( NN rationale ) ) ( PP ( IN for ) ( S-NOM ( VP ( VBG diversifying ) ( PP-CLR ( IN into ) ( NP ( NN oil ) ( CC and ) ( NN gas ) ) ) ) ) ) ) ) ) ) ) ) ) ( S ( S-NOM-SBJ-1 ( VP ( VBG Having ) ( NP ( CD two ) ( JJ major ) ( NNS products ) ) ) ) ( VP ( MD would ) ( VP ( VP ( VB lessen ) ( NP ( NP ( NP ( DT the ) ( NN company ) ( POS 's ) ) ( NN vulnerability ) ) ( PP ( TO to ) ( NP ( NP ( CD one ) ( NN market ) ( POS 's ) ) ( JJ down ) ( NN cycle ) ) ) ) ) ( CC and ) ( VP ( VB help ) ( S ( VP ( VB smooth ) ( PRT ( RP out ) ) ( NP ( NP ( DT the ) ( NN flow ) ) ( PP ( IN of ) ( NP ( NN cash ) ( CC and ) ( NNS earnings ) ) ) ) ) ) ) ) ) ) )

However shedding steel would run directly counter to Mr. Roderick 's original rationale for diversifying into oil and gas Having two major products would lessen the company 's vulnerability to one market 's down cycle and help smooth out the flow of cash and earnings


( SBAR-ADV ( IN As ) ( S ( NP-SBJ ( NNP Mr. ) ( NNP Roderick ) ) ( ADVP-TMP ( RB once ) ) ( VP ( VBD said ) ( S ( S ( NP-SBJ ( PRP We ) ) ( VP ( VBP 're ) ( NP-PRD ( DT a ) ( JJ two-product ) ( NN company ) ) ) ) ( CC and ) ( INTJ ( UH boy ) ) ( S ( SBAR-ADV ( IN if ) ( S ( NP-SBJ ( PRP you ) ) ( VP ( MD ca ) ( RB n't ) ( VP ( VB figure ) ( PRT ( RP out ) ) ( NP ( NP ( DT the ) ( NN value ) ) ( PP ( IN of ) ( NP ( DT those ) ( CD two ) ( NNS parts ) ) ) ) ) ) ) ) ( NP-SBJ ( PRP you ) ) ( VP ( VBP are ) ( ADJP-PRD ( RB so ) ( RB damn ) ( JJ dumb ) ( SBAR ( IN that ) ( S ( NP-SBJ ( PRP you ) ) ( VP ( VBP do ) ( RB n't ) ( VP ( VB belong ) ( PP-LOC-CLR ( IN on ) ( NP ( NNP Wall ) ( NNP Street ) ) ) ) ) ) ) ) ) ) ) ) ) )

As Mr. Roderick once said We 're a two-product company and boy if you ca n't figure out the value of those two parts you are so damn dumb that you do n't belong on Wall Street


( S ( ADVP ( RB Moreover ) ) ( NP-SBJ-1 ( DT the ) ( NN opportunity ) ( S ( VP ( TO to ) ( VP ( VB sell ) ( NP ( NN steel ) ) ( PP-CLR ( IN at ) ( NP ( NP ( DT a ) ( NN price ) ) ( ADJP ( JJ acceptable ) ( PP ( TO to ) ( NP ( NNP USX ) ) ) ) ) ) ) ) ) ) ( VP ( MD may ) ( VP ( VB be ) ( VP ( VBN gone ) ( PP-TMP ( IN for ) ( ADVP ( RB now ) ) ) ) ) ) )

Moreover the opportunity to sell steel at a price acceptable to USX may be gone for now


( S ( S-TPC-1 ( NP-SBJ ( NP ( DT The ) ( NN time ) ) ) ( VP ( VBZ has ) ( VP ( VBN passed ) ( SBAR-4 ( IN for ) ( S ( NP-SBJ ( PRP us ) ) ( VP ( TO to ) ( VP ( VB spin ) ( PRT ( RP off ) ) ( NP ( NN steel ) ) ( PP ( CC either ) ( PP ( IN in ) ( NP ( DT a ) ( JJ public ) ( NN offering ) ) ) ( CC or ) ( PP ( TO to ) ( NP ( DT a ) ( NN buyer ) ) ) ) ) ) ) ) ) ) ) ( NP-SBJ ( CD one ) ( NN executive ) ) ( VP ( VBZ contends ) ) )

The time has passed for us to spin off steel either in a public offering or to a buyer one executive contends


( S ( S-TPC-2 ( NP-SBJ ( NP ( IN About ) ( DT the ) ( JJ only ) ( NN way ) ) ( SBAR ( IN that ) ( S ( NP-SBJ ( NNP USX ) ) ( ADVP-TMP ( RB now ) ) ( VP ( MD can ) ( VP ( VB get ) ( PP-CLR ( IN out ) ( PP ( IN of ) ( NP ( NN steel ) ) ) ) ) ) ) ) ) ( VP ( VBZ is ) ( S-PRD ( VP ( TO to ) ( VP ( VB dish ) ( NP ( PRP it ) ) ( PRT ( RP out ) ) ( NP-ADV ( NP ( NN piece ) ) ( PP ( IN by ) ( NP ( NN piece ) ) ) ) ( PP-LOC ( IN in ) ( NP ( JJ separate ) ( JJ joint ) ( NNS ventures ) ) ) ) ) ) ) ) ( NP-SBJ ( PRP he ) ) ( VP ( VBZ adds ) ) )

About the only way that USX now can get out of steel is to dish it out piece by piece in separate joint ventures he adds


( S ( PP ( IN With ) ( S-NOM ( NP-SBJ ( NNP Mr. ) ( NNP Icahn ) ) ( VP ( VBG breathing ) ( PP ( IN down ) ( NP ( PRP$ his ) ( NN neck ) ) ) ) ) ) ( ADVP ( RB however ) ) ( NP-SBJ ( NNP Mr. ) ( NNP Corry ) ) ( VP ( MD may ) ( VP ( VB have ) ( NP ( JJ little ) ( NN choice ) ( SBAR ( CC but ) ( S ( VP ( TO to ) ( VP ( VB sell ) ( PP-CLR ( IN at ) ( NP ( DT a ) ( JJ weak ) ( NN price ) ) ) ( SBAR-ADV ( RB even ) ( IN if ) ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBZ means ) ( S ( VP ( VBG losing ) ( NP ( DT some ) ( JJ steel-related ) ( JJ tax-loss ) ( NNS carryforwards ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

With Mr. Icahn breathing down his neck however Mr. Corry may have little choice but to sell at a weak price even if it means losing some steel-related tax-loss carryforwards


( S ( NP-SBJ ( DT That ) ) ( VP ( MD would ) ( VP ( VB leave ) ( S ( NP-SBJ ( NNP USX ) ) ( NP-PRD ( NP ( RB essentially ) ( DT an ) ( NN oil ) ( NN company ) ) ( PP ( IN with ) ( NP ( NP ( NNP Marathon ) ) ( PP ( IN as ) ( NP ( PRP$ its ) ( NN core ) ) ) ) ) ) ) ) ) )

That would leave USX essentially an oil company with Marathon as its core


( S ( NP-SBJ ( NNP Marathon ) ) ( VP ( VBZ has ) ( VP ( VBN benefited ) ( PP-CLR ( IN from ) ( NP ( NP ( JJR higher ) ( NN crude-oil ) ( NNS prices ) ) ( CC and ) ( NP ( NP ( JJ strong ) ( NN demand ) ) ( PP ( IN for ) ( NP ( JJ refined ) ( NNS products ) ) ) ) ) ) ) ) )

Marathon has benefited from higher crude-oil prices and strong demand for refined products


( S ( NP-SBJ ( NN Oil ) ) ( VP ( VBZ has ) ( ADVP-TMP ( RB long ) ) ( VP ( VBN been ) ( NP-PRD ( NP ( NNP Mr. ) ( NNP Corry ) ( POS 's ) ) ( NN pet ) ) ) ) )

Oil has long been Mr. Corry 's pet


( S ( ADVP ( RB Indeed ) ) ( SBAR-TMP ( WHADVP-2 ( WRB when ) ) ( S ( NP-SBJ-1 ( DT the ) ( NNP Bush ) ( NN administration ) ) ( ADVP ( RB finally ) ) ( VP ( VP ( VBD decided ) ( NP-TMP ( DT this ) ( NN summer ) ) ( S ( VP ( TO to ) ( VP ( VB renew ) ( NP ( NN import ) ( NNS restrictions ) ) ) ) ) ) ( PRN ( NP ( NP ( RB arguably ) ( DT the ) ( ADJP ( RBS most ) ( JJ important ) ) ( NN decision ) ) ( SBAR ( S ( VP ( TO to ) ( VP ( VB affect ) ( NP ( DT the ) ( NN steel ) ( NN industry ) ) ) ) ) ) ( PP-TMP ( IN in ) ( NP ( CD five ) ( NNS years ) ) ) ) ) ) ) ) ( NP-SBJ ( NP ( NNP Mr. ) ( NNP Corry ) ) ( CC and ) ( NP ( PRP$ his ) ( NNS directors ) ) ) ( VP ( VBD were ) ( PP-LOC-PRD ( PP ( IN aboard ) ( NP ( NNS helicopters ) ) ) ( PP ( ADVP ( RB high ) ) ( IN above ) ( NP ( NP ( NP ( NNP Marathon ) ( POS 's ) ) ( JJ rich ) ( NN oil ) ( NNS reserves ) ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( NNP North ) ( NNP Sea ) ) ) ) ) ) ) )

Indeed when the Bush administration finally decided this summer to renew import restrictions arguably the most important decision to affect the steel industry in five years Mr. Corry and his directors were aboard helicopters high above Marathon 's rich oil reserves in the North Sea


( S ( SBAR-ADV ( SINV ( MD Should ) ( NP-SBJ ( NNP USX ) ) ( VP ( VB be ) ( VP ( VBN left ) ( PP-CLR ( IN with ) ( NP ( JJ only ) ( NNP Marathon ) ) ) ) ) ) ) ( NP-SBJ-1 ( NNP Mr. ) ( NNP Corry ) ) ( VP ( MD might ) ( ADVP ( RB well ) ) ( VP ( VB feel ) ( VP ( VBN pushed ) ( S ( VP ( TO to ) ( VP ( VB scout ) ( PRT ( RP out ) ) ( NP ( JJ other ) ( NN energy ) ( NNS companies ) ) ) ) ) ) ) ) )

Should USX be left with only Marathon Mr. Corry might well feel pushed to scout out other energy companies


( S ( ADVP ( RB However ) ) ( NP-SBJ ( NP ( RB even ) ( NNP USX ) ( NNS executives ) ) ( SBAR ( WHNP-1 ( WP who ) ) ( S ( VP ( VBP work ) ( ADVP-MNR ( RB closely ) ) ( PP-CLR ( IN with ) ( NP ( PRP him ) ) ) ) ) ) ) ( VP ( VBP are ) ( RB n't ) ( ADJP-PRD ( JJ sure ) ( PP ( IN about ) ( NP ( PRP$ his ) ( JJ long-term ) ( NNS goals ) ) ) ) ) )

However even USX executives who work closely with him are n't sure about his long-term goals


( S ( S-TPC-1 ( NP-SBJ ( PRP I ) ) ( VP ( VBP do ) ( RB n't ) ( VP ( VB think ) ( SBAR ( S ( NP-SBJ ( PRP he ) ) ( VP ( VBZ has ) ( NP ( NP ( DT a ) ( JJ clear ) ( NN sense ) ) ( PP ( IN of ) ( SBAR ( WHADVP-2 ( WRB where ) ) ( S ( NP-SBJ ( PRP he ) ) ( VP ( VBZ wants ) ( S ( NP-SBJ ( DT the ) ( NN company ) ) ( VP ( TO to ) ( VP ( VB go ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ( NP-SBJ ( CD one ) ) ( VP ( VBZ says ) ) )

I do n't think he has a clear sense of where he wants the company to go one says


( S-1 ( ADVP-TMP ( RB Right ) ( RB now ) ) ( PRN ( S ( NP-SBJ ( DT the ) ( NN executive ) ) ( VP ( VBZ adds ) ) ) ) ( NP-SBJ-2 ( PRP he ) ) ( VP ( VBZ wants ) ( S ( VP ( TO to ) ( VP ( VB continue ) ( S ( VP ( TO to ) ( VP ( VB focus ) ( PP-CLR ( IN on ) ( S-NOM ( VP ( VBG paying ) ( PRT ( RP down ) ) ( NP ( NP ( NNP USX ) ( POS 's ) ) ( NN debt ) ) ( PP-MNR ( IN by ) ( S-NOM ( VP ( VBG selling ) ( NP ( NNS assets ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Right now the executive adds he wants to continue to focus on paying down USX 's debt by selling assets


( S ( S ( NP-SBJ ( CD One ) ( NN thing ) ) ( VP ( VBZ is ) ( ADJP-PRD ( JJ certain ) ) ( ADVP ( RB however ) ) ) ) ( S ( NP-SBJ-1 ( NNP Mr. ) ( NNP Corry ) ) ( SBAR-TMP ( IN while ) ( S ( VP ( VBG studying ) ( NP ( JJ other ) ( NNS options ) ) ) ) ) ( ADVP ( RB probably ) ) ( VP ( MD wo ) ( RB n't ) ( VP ( VB make ) ( NP ( DT a ) ( JJ major ) ( NN move ) ) ( SBAR-TMP ( IN until ) ( S ( NP-SBJ ( PRP he ) ) ( VP ( VBZ 's ) ( ADJP-PRD ( JJ clear ) ( PP ( IN about ) ( NP ( NP ( NNP Mr. ) ( NNP Icahn ) ( POS 's ) ) ( NNS intentions ) ) ) ) ) ) ) ) ) ) )

One thing is certain however Mr. Corry while studying other options probably wo n't make a major move until he 's clear about Mr. Icahn 's intentions


( SINV ( CC And ) ( S-TPC-1 ( ADVP-TMP ( RB then ) ) ( NP-SBJ ( PRP he ) ) ( VP ( MD wo ) ( RB n't ) ( VP ( VB panic ) ) ) ) ( VP ( VBZ says ) ) ( NP-SBJ ( NP ( NNP J. ) ( NNP Bruce ) ( NNP Johnston ) ) ( NP ( NP ( DT a ) ( JJ former ) ( NNP USX ) ( NN executive ) ) ( CC and ) ( ADVP-TMP ( RB now ) ) ( NP ( NP ( DT a ) ( NN labor ) ( CC and ) ( NN benefit ) ( NN consultant ) ) ( PP ( IN with ) ( NP ( NP ( NNP Adler ) ( NNP Cohen ) ( CC & ) ( NNP Grigsby ) ) ( PP-LOC ( IN in ) ( NP ( NNP Pittsburgh ) ) ) ) ) ) ) ) )

And then he wo n't panic says J. Bruce Johnston a former USX executive and now a labor and benefit consultant with Adler Cohen & Grigsby in Pittsburgh


( S ( NP-SBJ ( NNP Mr. ) ( NNP Corry ) ) ( VP ( VBD learned ) ( NP ( NP ( NN presence ) ) ( PP-LOC ( IN under ) ( NP ( NN fire ) ) ) ) ( SBAR-TMP ( WHADVP-3 ( WRB when ) ) ( S ( PP ( IN as ) ( NP ( NP ( NN vice ) ( NN president ) ) ( PP ( IN of ) ( NP ( JJ corporate ) ( NN planning ) ) ) ) ) ( NP-SBJ ( PRP he ) ) ( VP ( VBD handled ) ( SBAR-NOM ( WHNP-2 ( WP what ) ) ( S ( NP-SBJ ( NNP Mr. ) ( NNP Johnston ) ) ( VP ( VBZ calls ) ( S ( NP-PRD ( NP ( JJ don't-con-me ) ( NNS negotiations ) ) ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( VP ( VBD led ) ( PP-DIR ( TO to ) ( NP ( NP ( NP ( NNP USX ) ) ( VBZ 's ) ( VBG shedding ) ) ( PP ( IN of ) ( NP ( NP ( DT a ) ( JJ wide ) ( NN array ) ) ( PP ( IN of ) ( NP ( NNS assets ) ) ) ( VP ( VBG ranging ) ( PP ( PP ( IN from ) ( NP ( NNS chemicals ) ) ) ( PP ( TO to ) ( NP ( NN construction ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Mr. Corry learned presence under fire when as vice president of corporate planning he handled what Mr. Johnston calls don't-con-me negotiations that led to USX 's shedding of a wide array of assets ranging from chemicals to construction


( S ( SBAR-TMP ( WHADVP-1 ( WRB When ) ) ( S ( VP ( VBG negotiating ) ) ) ) ( NP-SBJ-2 ( NNP Mr. ) ( NNP Corry ) ) ( VP ( VBD played ) ( NP ( PRP$ his ) ( NNS cards ) ) ( ADVP-MNR ( RB close ) ( PP ( TO to ) ( NP ( DT the ) ( NN vest ) ) ) ) ) )

When negotiating Mr. Corry played his cards close to the vest


( S ( NP-SBJ ( NP ( NNP Johnnie ) ( NNP Johnson ) ) ( SBAR ( WHNP-1 ( WP who ) ) ( S ( VP ( VBD worked ) ( PP-CLR ( IN for ) ( NP ( NNP Mr. ) ( NNP Corry ) ) ) ( PP-LOC ( IN in ) ( NP ( JJ strategic ) ( NN planning ) ) ) ) ) ) ) ( VP ( VBZ recalls ) ( SBAR ( WHADVP-4 ( WRB how ) ) ( S ( NP-SBJ ( PRP$ his ) ( NN boss ) ) ( VP ( MD would ) ( ADVP ( RB routinely ) ) ( VP ( VB ask ) ( NP-2 ( DT a ) ( NN subordinate ) ) ( S ( VP ( TO to ) ( VP ( VB research ) ( NP ( DT an ) ( JJ entire ) ( NN industry ) ) ( S-PRP ( VP ( TO to ) ( VP ( VB target ) ( NP ( NN acquisition ) ( NNS candidates ) ) ) ) ) ) ) ) ) ) ) ) ) )

Johnnie Johnson who worked for Mr. Corry in strategic planning recalls how his boss would routinely ask a subordinate to research an entire industry to target acquisition candidates


( S ( S ( SBAR-NOM-SBJ ( WHNP-2 ( WP What ) ) ( S ( NP-SBJ-1 ( PRP he ) ) ( ADVP ( RB really ) ) ( VP ( VBD wanted ) ( S ( VP ( TO to ) ( VP ( VB know ) ) ) ) ) ) ) ( VP ( VBD was ) ( PP-PRD ( IN about ) ( NP ( DT a ) ( JJ particular ) ( NN company ) ) ) ) ) ( CC but ) ( S ( NP-SBJ ( PRP you ) ) ( VP ( VBD did ) ( RB n't ) ( VP ( VB know ) ( NP ( DT that ) ) ) ) ) )

What he really wanted to know was about a particular company but you did n't know that