( S ( NP-SBJ ( NN Equitec ) ) ( VP ( VBD posted ) ( NP ( DT a ) ( ADJP ( QP ( CD 3.3 ) ( CD million ) ) ) ( NN net ) ( NN loss ) ) ( PP-TMP ( IN in ) ( NP ( DT the ) ( JJ second ) ( NN quarter ) ) ) ( PP ( IN on ) ( NP ( NP ( QP ( CD 11.8 ) ( CD million ) ) ) ( PP ( IN of ) ( NP ( NN revenue ) ) ) ) ) ( PP ( VBN compared ) ( PP ( IN with ) ( NP ( NP ( DT a ) ( JJ net ) ( NN loss ) ) ( PP ( IN of ) ( NP ( QP ( CD 12.9 ) ( CD million ) ) ) ) ( PP-TMP ( IN in ) ( NP ( DT the ) ( JJ year-earlier ) ( NN period ) ) ) ( PP ( IN on ) ( NP ( NP ( NN revenue ) ) ( PP ( IN of ) ( NP ( QP ( CD 9.1 ) ( CD million ) ) ) ) ) ) ) ) ) ) )

Equitec posted a 3.3 million net loss in the second quarter on 11.8 million of revenue compared with a net loss of 12.9 million in the year-earlier period on revenue of 9.1 million


( S ( PP-LOC ( IN In ) ( NP ( NNP New ) ( NNP York ) ( NNP Stock ) ( NNP Exchange ) ( JJ composite ) ( NN trading ) ) ) ( NP-SBJ-1 ( NNP Equitec ) ) ( VP ( VBD closed ) ( PP-CLR ( IN at ) ( NP ( NP ( CD 2.625 ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ( S-ADV ( ADJP-PRD ( JJ unchanged ) ) ) ) )

In New York Stock Exchange composite trading Equitec closed at 2.625 a share unchanged


( S ( PP-PRP ( IN Because ) ( IN of ) ( NP ( NP ( NP ( NNP Tuesday ) ( POS 's ) ) ( NN earthquake ) ) ( PP-LOC ( IN in ) ( NP ( JJ Northern ) ( NNP California ) ) ) ) ) ( NP-SBJ-1 ( NN company ) ( NNS officials ) ) ( VP ( MD could ) ( RB n't ) ( ADVP-TMP ( RB immediately ) ) ( VP ( VB be ) ( VP ( VBN reached ) ( PP-PRP ( IN for ) ( NP ( JJ additional ) ( NN comment ) ) ) ) ) ) )

Because of Tuesday 's earthquake in Northern California company officials could n't immediately be reached for additional comment


( S ( NP-SBJ ( NP ( DT A ) ( NN spokesman ) ) ( PP ( IN for ) ( NP ( NNP Hallwood ) ) ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( NP ( DT the ) ( CD 12 ) ( JJ limited ) ( NNS partnerships ) ) ( SBAR ( WHNP-2 ( WDT which ) ) ( S ( VP ( VBD were ) ( VP ( VBN marketed ) ( PP-LGS ( IN by ) ( NP ( NP ( NN brokerage ) ( NNS firms ) ) ( CC and ) ( NP ( JJ financial ) ( NNS planners ) ) ) ) ( PP-TMP ( IN between ) ( NP ( CD 1979 ) ( CC and ) ( CD 1984 ) ) ) ) ) ) ) ) ( VP ( VBD raised ) ( NP ( QP ( JJ several ) ( CD hundred ) ( CD million ) ) ( NNS dollars ) ) ( PP-CLR ( IN from ) ( NP ( NNS investors ) ) ) ) ) ) ) )

A spokesman for Hallwood said the 12 limited partnerships which were marketed by brokerage firms and financial planners between 1979 and 1984 raised several hundred million dollars from investors


( S ( NP-SBJ-1 ( NP ( DT A ) ( NN group ) ) ( PP ( IN of ) ( NP ( NNS investors ) ) ) ( VP ( VBG including ) ( NP ( NP ( NP ( NNP Giancarlo ) ( NNP Parretti ) ( POS 's ) ) ( NNP Pathe ) ( NNP Communications ) ( NNP Corp. ) ) ( CC and ) ( NP ( NNP Sasea ) ( NNP Holding ) ( NNP S.A. ) ) ) ) ) ( VP ( VBP have ) ( VP ( VBN agreed ) ( S ( VP ( TO to ) ( VP ( VB buy ) ( NP ( NP ( CD 76.66 ) ( NN % ) ) ( PP ( IN of ) ( NP ( NP ( NNP Odeon ) ( NNP Finanziaria ) ) ( NP ( DT a ) ( ADJP ( RB financially ) ( JJ troubled ) ) ( JJ Italian ) ( NN TV ) ( NN station ) ) ) ) ) ) ) ) ) ) )

A group of investors including Giancarlo Parretti 's Pathe Communications Corp. and Sasea Holding S.A. have agreed to buy 76.66 % of Odeon Finanziaria a financially troubled Italian TV station


( S ( NP-SBJ ( NP ( NNP Florio ) ( NNP Fiorini ) ) ( NP ( NP ( NN managing ) ( NN director ) ) ( PP ( IN of ) ( NP ( JJ Geneva-based ) ( NNP Sasea ) ) ) ) ) ( VP ( VBD said ) ( SBAR ( S ( S ( NP-SBJ ( DT the ) ( NNS investors ) ) ( VP ( MD would ) ( VP ( VB pay ) ( NP ( RB only ) ( DT a ) ( JJ symbolic ) ( CD one ) ( NN lira ) ) ( PP-CLR ( IN for ) ( NP ( DT the ) ( NN station ) ) ) ) ) ) ( CC but ) ( S ( NP-SBJ-2 ( PRP we ) ) ( VP ( VBP have ) ( VP ( VBD agreed ) ( S ( VP ( TO to ) ( VP ( VB raise ) ( NP ( NP ( DT the ) ( NN capital ) ) ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( VP ( MD will ) ( VP ( VB enable ) ( S ( NP-SBJ-3 ( DT the ) ( NN company ) ) ( VP ( TO to ) ( VP ( VB continue ) ( S ( VP ( VBG operating ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Florio Fiorini managing director of Geneva-based Sasea said the investors would pay only a symbolic one lira for the station but we have agreed to raise the capital that will enable the company to continue operating


( S ( S-TPC-3 ( NP-SBJ ( PRP It ) ) ( VP ( VBZ 's ) ( NP-PRD ( NP ( NN sort ) ) ( PP ( IN of ) ( NP ( DT a ) ( NN Chapter ) ( CD 11 ) ( NN situation ) ) ) ) ) ) ( NP-SBJ-2 ( PRP he ) ) ( VP ( VBD added ) ( S-ADV ( VP ( VBG referring ) ( PP-CLR ( TO to ) ( NP ( NP ( DT the ) ( NNP U.S. ) ( NN bankruptcy ) ( NN law ) ) ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( VP ( VBZ protects ) ( NP ( NNS companies ) ) ( PP-CLR ( IN from ) ( NP ( NNS creditors ) ) ) ( SBAR-TMP ( IN while ) ( S ( NP-SBJ ( PRP they ) ) ( VP ( VBP restructure ) ) ) ) ) ) ) ) ) ) ) ) )

It 's sort of a Chapter 11 situation he added referring to the U.S. bankruptcy law that protects companies from creditors while they restructure


( S ( S-TPC-2 ( NP-SBJ ( NP ( JJ Milan-based ) ( NNP Odeon ) ) ( SBAR ( WHNP-1 ( WDT which ) ) ( S ( VP ( VBZ draws ) ( NP ( NP ( QP ( IN about ) ( CD 3 ) ) ( NN % ) ) ( PP ( IN of ) ( NP ( JJ Italian ) ( NN TV ) ( NNS viewers ) ) ) ) ) ) ) ) ( VP ( VBZ has ) ( NP ( NP ( NN debt ) ) ( PP ( IN of ) ( NP ( NP ( QP ( CD 250 ) ( CD billion ) ) ( NNS lire ) ) ( PRN ( NP ( QP ( CD 181.9 ) ( CD million ) ) ) ) ) ) ) ) ) ( NP-SBJ ( NNP Mr. ) ( NNP Fiorini ) ) ( VP ( VBD said ) ) )

Milan-based Odeon which draws about 3 % of Italian TV viewers has debt of 250 billion lire 181.9 million Mr. Fiorini said


( S ( NP-SBJ ( PRP He ) ) ( VP ( VBD added ) ( SBAR ( SBAR ( IN that ) ( S ( NP-SBJ-3 ( NP ( NNS details ) ) ( PP ( IN of ) ( NP ( DT the ) ( NN recapitalization ) ) ) ) ( ADVP-TMP ( RB still ) ) ( VP ( VBP have ) ( S ( VP ( TO to ) ( VP ( VB be ) ( VP ( VBN worked ) ( PRT ( RB out ) ) ) ) ) ) ) ) ) ( CC but ) ( SBAR ( DT that ) ( S ( S ( NP-SBJ ( NNP Pathe ) ) ( VP ( MD will ) ( VP ( VB take ) ( NP ( NP ( CD 50 ) ( NN % ) ) ( PP ( IN of ) ( NP ( NNP Odeon ) ) ) ) ) ) ) ( S ( NP-SBJ ( NNP Rome ) ( NN film ) ( NN producer ) ( NNP Bruno ) ( NNP Lucisano ) ) ( VP ( MD will ) ( VP ( VB take ) ( NP ( CD 10 ) ( NN % ) ) ) ) ) ( CC and ) ( S ( NP-SBJ-2 ( NP ( DT the ) ( VBG remaining ) ( CD 16.66 ) ( NN % ) ) ( VP ( ADVP-TMP ( RB currently ) ) ( VBN owned ) ( PP ( IN by ) ( NP-LGS ( NNP Sasea ) ) ) ) ) ( VP ( MD will ) ( ADVP-TMP ( RB eventually ) ) ( VP ( VB be ) ( VP ( VBN sold ) ( PP-CLR ( TO to ) ( NP ( JJ other ) ( NNS investors ) ) ) ) ) ) ) ) ) ) ) )

He added that details of the recapitalization still have to be worked out but that Pathe will take 50 % of Odeon Rome film producer Bruno Lucisano will take 10 % and the remaining 16.66 % currently owned by Sasea will eventually be sold to other investors


( S ( NP-SBJ ( NP ( NNP Calisto ) ( NNP Tanzi ) ) ( NP ( NP ( NNP Odeon ) ( POS 's ) ) ( NN owner ) ) ) ( VP ( MD will ) ( VP ( VB retain ) ( NP ( PRP$ his ) ( ADJP ( CD 23.34 ) ( NN % ) ) ( NN stake ) ) ) ) )

Calisto Tanzi Odeon 's owner will retain his 23.34 % stake


( S ( NP-SBJ ( NP ( NNP Italy ) ( POS 's ) ) ( NNP Supreme ) ( NNP Court ) ) ( NP-TMP ( DT this ) ( NN year ) ) ( VP ( VBD ordered ) ( NP-2 ( NNP Parliament ) ) ( S ( VP ( TO to ) ( VP ( VB write ) ( NP ( NP ( DT a ) ( NN law ) ) ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( VP ( MD will ) ( VP ( VB regulate ) ( NP ( NNS media ) ( NN ownership ) ) ) ) ) ) ) ) ) ) ) )

Italy 's Supreme Court this year ordered Parliament to write a law that will regulate media ownership


( S ( S-TPC-5 ( NP-SBJ ( PRP We ) ) ( VP ( VBP think ) ( SBAR ( IN that ) ( S ( NP-SBJ-4 ( NP ( PRP it ) ) ) ( VP ( VBZ 's ) ( VP ( VBG going ) ( S ( VP ( TO to ) ( VP ( VB be ) ( ADJP-PRD ( ADJP ( ADVP ( RB far ) ( RBR more ) ) ( JJ favorable ) ) ) ( S-1 ( VP ( TO to ) ( VP ( VB own ) ( NP ( DT a ) ( NN station ) ) ( SBAR-TMP ( IN before ) ( S ( NP-SBJ-3 ( DT the ) ( NN law ) ) ( VP ( VBZ is ) ( VP ( VBN passed ) ) ) ) ) ) ) ) ( SBAR-6 ( IN than ) ( S ( VP ( TO to ) ( VP ( VB try ) ( S ( VP ( TO to ) ( VP ( VB buy ) ( NP ( NN one ) ) ( ADVP-TMP ( RB afterward ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ( NP-SBJ ( NNP Mr. ) ( NNP Fiorini ) ) ( VP ( VBD said ) ) )

We think that it 's going to be far more favorable to own a station before the law is passed than to try to buy one afterward Mr. Fiorini said


( S ( NP-SBJ-2 ( NNP Whitbread ) ( CC & ) ( NNP Co. ) ) ( VP ( VBD put ) ( NP ( PRP$ its ) ( NNS spirits ) ( NN division ) ) ( ADVP-CLR ( RP up ) ( PP ( IN for ) ( NP ( NN sale ) ) ) ) ( S-ADV ( VP ( VBG triggering ) ( NP ( NP ( DT a ) ( NN scramble ) ) ( PP-LOC ( IN among ) ( NP ( JJ global ) ( NNS groups ) ) ) ( PP ( IN for ) ( NP ( NP ( DT the ) ( JJ British ) ( NN company ) ( POS 's ) ) ( NNS brands ) ) ) ) ) ) ) )

Whitbread & Co. put its spirits division up for sale triggering a scramble among global groups for the British company 's brands


( S ( S-TPC-3 ( NP-SBJ-1 ( NNP Whitbread ) ) ( ADVP-TMP ( RB already ) ) ( VP ( VBZ has ) ( VP ( VBN been ) ( VP ( VBN approached ) ( PP ( IN by ) ( NP-LGS ( NP ( QP ( IN about ) ( PDT half ) ( DT a ) ( NN dozen ) ) ( NNS companies ) ) ( ADJP ( JJ interested ) ( PP ( IN in ) ( S-NOM ( VP ( VBG buying ) ( NP ( NP ( DT all ) ( CC or ) ( NN part ) ) ( PP ( IN of ) ( NP ( DT the ) ( NNS spirits ) ( NN business ) ) ) ) ) ) ) ) ) ) ) ) ) ) ( NP-SBJ ( DT a ) ( NN spokesman ) ) ( VP ( VBD said ) ) )

Whitbread already has been approached by about half a dozen companies interested in buying all or part of the spirits business a spokesman said


( S ( NP-SBJ ( NNS Analysts ) ) ( VP ( VBP expect ) ( S ( NP-SBJ ( NP ( DT the ) ( NNS spirits ) ( NNS operations ) ) ( CC and ) ( NP ( NP ( DT some ) ( NNP California ) ( NNS vineyards ) ) ( SBAR ( WHNP-2 ( WDT that ) ) ( S ( ADVP ( RB also ) ) ( VP ( VBP are ) ( VP ( VBG being ) ( VP ( VBN sold ) ) ) ) ) ) ) ) ( VP ( TO to ) ( VP ( VB fetch ) ( NP ( NP ( QP ( IN about ) ( CD 500 ) ( CD million ) ) ) ( PRN ( NP ( QP ( CD 788.8 ) ( CD million ) ) ) ) ) ) ) ) ) )

Analysts expect the spirits operations and some California vineyards that also are being sold to fetch about 500 million 788.8 million


( SINV ( PP-LOC-PRD-TPC-1 ( IN Among ) ( NP ( NP ( DT the ) ( NNS brands ) ) ( PP ( IN for ) ( NP ( NN sale ) ) ) ) ) ( VP ( VBP are ) ) ( NP-SBJ ( NP ( NP ( NNP Beefeater ) ( NN gin ) ) ( NP ( NP ( DT the ) ( NN No. ) ( CD 2 ) ( VBN imported ) ( NN gin ) ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( NNP U.S. ) ) ) ) ) ( CC and ) ( NP ( NNP Laphroaig ) ( JJ single-malt ) ( NN whiskey ) ) ) )

Among the brands for sale are Beefeater gin the No. 2 imported gin in the U.S. and Laphroaig single-malt whiskey


( SINV ( ADVP ( RB Also ) ) ( PP-PRD-TPC-2 ( IN for ) ( NP ( NN sale ) ) ) ( VP ( VBP are ) ) ( NP-SBJ ( NP ( NP ( NNP Buckingham ) ( NNP Wile ) ( NNP Co. ) ) ( SBAR ( WHNP-1 ( WDT which ) ) ( S ( VP ( VBZ distributes ) ( NP ( NNP Cutty ) ( NNP Sark ) ( JJ blended ) ( NN whiskey ) ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( NNP U.S. ) ) ) ) ) ) ) ( CC and ) ( NP ( NP ( NP ( NNP Whitbread ) ( POS 's ) ) ( NNP Atlas ) ( NNP Peak ) ( NNPS Vineyards ) ) ( PP-LOC ( IN in ) ( NP ( NP ( NNP California ) ( POS 's ) ) ( NNP Napa ) ( NNP Valley ) ) ) ) ) )

Also for sale are Buckingham Wile Co. which distributes Cutty Sark blended whiskey in the U.S. and Whitbread 's Atlas Peak Vineyards in California 's Napa Valley


( S ( S-TPC-1 ( NP-SBJ ( NP ( NNP Beefeater ) ) ( ADVP ( RB alone ) ) ) ( VP ( VBZ is ) ( ADJP-PRD ( JJ worth ) ( NP ( QP ( IN as ) ( RB much ) ( IN as ) ( CD 300 ) ( CD million ) ) ) ) ) ) ( NP-SBJ ( NNS analysts ) ) ( VP ( VBD said ) ) )

Beefeater alone is worth as much as 300 million analysts said


( S ( NP-SBJ ( NNP Whitbread ) ) ( VP ( VBD bought ) ( NP ( DT the ) ( NNP Beefeater ) ( NN distillery ) ) ( ADVP-TMP ( NP ( CD two ) ( NNS years ) ) ( RB ago ) ) ( PP-CLR ( IN for ) ( NP ( QP ( CD 174.5 ) ( CD million ) ) ) ) ) )

Whitbread bought the Beefeater distillery two years ago for 174.5 million


( S ( NP-SBJ ( DT That ) ( NN purchase ) ) ( VP ( VBD represented ) ( NP ( NP ( DT an ) ( NN attempt ) ) ( PP ( IN by ) ( NP ( NP ( NNP Whitbread ) ) ( NP ( DT a ) ( JJ venerable ) ( JJ British ) ( NN brewer ) ) ) ) ( S-1 ( VP ( TO to ) ( VP ( VB become ) ( NP-PRD ( NP ( DT a ) ( JJ major ) ( NN player ) ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( JJ global ) ( NN liquor ) ( NN business ) ) ) ) ) ) ) ) ) )

That purchase represented an attempt by Whitbread a venerable British brewer to become a major player in the global liquor business


( S ( CC But ) ( NP-SBJ-1 ( NNP Whitbread ) ) ( VP ( VBZ has ) ( VP ( VBN been ) ( VP ( VBN squeezed ) ( PP ( IN by ) ( NP-LGS ( JJ giant ) ( NNS rivals ) ) ) ( PP-LOC ( IN amid ) ( NP ( NP ( JJ widespread ) ( NN consolidation ) ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( NN industry ) ) ) ) ) ) ) ) )

But Whitbread has been squeezed by giant rivals amid widespread consolidation in the industry


( S ( ADVP-TMP ( RB Now ) ) ( NP-SBJ-1 ( PRP it ) ) ( VP ( VBZ wants ) ( S ( VP ( TO to ) ( VP ( VB concentrate ) ( PP-CLR ( IN on ) ( NP ( NP ( NN beer ) ) ( CC and ) ( NP ( PRP$ its ) ( JJR newer ) ( NN hotel ) ( CC and ) ( NN restaurant ) ( NNS operations ) ) ) ) ) ) ) ) )

Now it wants to concentrate on beer and its newer hotel and restaurant operations


( S ( PP ( IN For ) ( NP ( JJ rival ) ( NN liquor ) ( NNS companies ) ) ) ( NP-SBJ ( DT the ) ( NNP Whitbread ) ( NN auction ) ) ( VP ( VBZ is ) ( NP-PRD ( DT a ) ( JJ rare ) ( NN opportunity ) ( S ( VP ( TO to ) ( VP ( VB acquire ) ( NP ( JJ valuable ) ( NNS brands ) ) ) ) ) ) ) )

For rival liquor companies the Whitbread auction is a rare opportunity to acquire valuable brands


( SINV ( S-CLF-TPC-1 ( NP-SBJ ( PRP It ) ) ( VP ( VBZ 's ) ( RB not ) ( ADVP-PRD ( RB very ) ( RB often ) ) ( SBAR ( S ( NP-SBJ ( NP ( NN something ) ) ( PP ( IN like ) ( NP ( DT this ) ) ) ) ( VP ( VBZ comes ) ( PRT ( RP up ) ) ) ) ) ) ) ( VP ( VBD said ) ) ( NP-SBJ ( NP ( NNP Ron ) ( NNP Littleboy ) ) ( NP ( NP ( DT a ) ( NN liquor ) ( NN company ) ( NN analyst ) ) ( PP-LOC ( IN at ) ( NP ( NP ( NNP Nomura ) ( NNP Research ) ( NNP Institute ) ) ( PP-LOC ( IN in ) ( NP ( NNP London ) ) ) ) ) ) ) )

It 's not very often something like this comes up said Ron Littleboy a liquor company analyst at Nomura Research Institute in London


( SINV ( S-TPC-2 ( NP-SBJ-1 ( DT The ) ( NN division ) ) ( VP ( MD will ) ( VP ( VB be ) ( VP ( VBN sold ) ( PRT ( RP off ) ) ( ADVP-MNR ( RB quite ) ( RB rapidly ) ) ) ) ) ) ( VP ( VBD predicted ) ) ( NP-SBJ ( NP ( NNP Neill ) ( NNP Junor ) ) ( NP ( NP ( DT an ) ( NN analyst ) ) ( PP-LOC ( IN at ) ( NP ( NNP London ) ( NNS brokers ) ( NNP County ) ( NNP NatWest ) ( NNP WoodMac ) ) ) ) ) )

The division will be sold off quite rapidly predicted Neill Junor an analyst at London brokers County NatWest WoodMac


( S ( PP-LOC ( IN Among ) ( NP ( JJ possible ) ( NNS buyers ) ) ) ( NP-SBJ ( NNP Grand ) ( NNP Metropolitan ) ( NNP PLC ) ) ( VP ( MD might ) ( VP ( VB find ) ( S ( NP-SBJ ( NNP Beefeater ) ) ( NP-PRD ( NP ( DT a ) ( JJ useful ) ( NN addition ) ) ( PP ( TO to ) ( NP ( PRP$ its ) ( NN portfolio ) ) ) ) ) ) ) )

Among possible buyers Grand Metropolitan PLC might find Beefeater a useful addition to its portfolio


( S ( S ( NP-SBJ ( NNP Grand ) ( NNP Met ) ) ( VP ( VBZ owns ) ( NP ( NP ( NNP Bombay ) ( NN gin ) ) ( NP ( NP ( DT the ) ( NN No. ) ( CD 3 ) ( VBN imported ) ( NN gin ) ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( NNP U.S. ) ) ) ) ) ) ) ( S ( NP-SBJ ( JJ rival ) ( NNP Guinness ) ( NNP PLC ) ) ( VP ( VBZ has ) ( NP ( NP ( DT the ) ( NN No. ) ( CD 1 ) ( VBN imported ) ( NN brand ) ) ( NP ( NNP Tanqueray ) ) ) ) ) )

Grand Met owns Bombay gin the No. 3 imported gin in the U.S. rival Guinness PLC has the No. 1 imported brand Tanqueray


( S ( S-TPC-1 ( S ( NP-SBJ ( DT The ) ( NNP Whitbread ) ( NNS spirits ) ( NN auction ) ) ( VP ( VBZ is ) ( NP-PRD ( DT an ) ( ADJP ( RB extremely ) ( JJ interesting ) ) ( NN development ) ) ) ) ( CC and ) ( S ( ADVP ( RB naturally ) ) ( NP-SBJ ( PRP we ) ) ( VP ( MD 'll ) ( VP ( VB be ) ( VP ( VBG considering ) ( NP ( PRP it ) ) ( ADVP-MNR ( RB carefully ) ) ) ) ) ) ) ( NP-SBJ ( DT a ) ( NNP Grand ) ( NNP Met ) ( NN spokesman ) ) ( VP ( VBD said ) ) )

The Whitbread spirits auction is an extremely interesting development and naturally we 'll be considering it carefully a Grand Met spokesman said


( S ( NP-SBJ-1 ( NP ( NNP Guinness ) ) ( SBAR ( WHNP-2 ( WDT which ) ) ( S ( VP ( VBZ owns ) ( NP ( NP ( JJ several ) ( VBG leading ) ( NN whiskey ) ( NNS brands ) ) ( CC plus ) ( NP ( NP ( NP ( NNP Gordon ) ( POS 's ) ) ( NN gin ) ) ( NP ( NP ( DT the ) ( NN world ) ( POS 's ) ) ( NN No. ) ( CD 1 ) ( NN gin ) ) ) ) ) ) ) ) ( VP ( VBZ is ) ( VP ( VBN considered ) ( S ( ADJP-PRD ( RBR less ) ( JJ likely ) ( S ( VP ( TO to ) ( VP ( VB bid ) ( PP-CLR ( IN for ) ( NP ( DT the ) ( NNP Whitbread ) ( NNS spirits ) ) ) ) ) ) ) ) ) ) )

Guinness which owns several leading whiskey brands plus Gordon 's gin the world 's No. 1 gin is considered less likely to bid for the Whitbread spirits


( S ( NP-SBJ-1 ( DT A ) ( NNP Guinness ) ( NN spokesman ) ) ( VP ( VBD declined ) ( S ( VP ( TO to ) ( VP ( VB comment ) ) ) ) ) )

A Guinness spokesman declined to comment


( S ( NP-SBJ ( NP ( CD Two ) ( JJ other ) ( JJ global ) ( NN liquor ) ( NNS giants ) ) ( NP ( NP ( NP ( NNP Canada ) ( POS 's ) ) ( NNP Seagram ) ( NNP Co. ) ) ( CC and ) ( NP ( NP ( NNP Britain ) ( POS 's ) ) ( NNP Allied-Lyons ) ( NNP PLC ) ) ) ) ( ADVP ( RB also ) ) ( VP ( VBP are ) ( NP-PRD ( JJ possible ) ( NNS buyers ) ) ) )

Two other global liquor giants Canada 's Seagram Co. and Britain 's Allied-Lyons PLC also are possible buyers


( S ( S ( NP-SBJ ( NP ( NNP Seagram ) ( POS 's ) ) ( NN gin ) ) ( VP ( VBZ is ) ( NP-PRD ( NP ( DT the ) ( NN world ) ( POS 's ) ) ( NN No. ) ( CD 2 ) ( NN gin ) ( NN brand ) ) ) ) ( CC but ) ( S ( NP-SBJ ( DT the ) ( NN company ) ) ( VP ( VBZ does ) ( RB n't ) ( VP ( VB own ) ( NP ( NP ( DT any ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( JJ major ) ( NN gin ) ( NNS brands ) ) ( VP ( VBN imported ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( NNP U.S. ) ) ) ) ) ) ) ) ) ) )

Seagram 's gin is the world 's No. 2 gin brand but the company does n't own any of the major gin brands imported in the U.S.


( S ( NP-SBJ-1 ( NNP Allied-Lyons ) ) ( SBAR-ADV ( IN while ) ( S ( ADJP-PRD ( JJ powerful ) ) ( PP-LOC ( IN in ) ( NP ( NN whiskey ) ) ) ) ) ( VP ( VBZ does ) ( RB n't ) ( VP ( VB own ) ( NP ( DT any ) ( JJ major ) ( NN white-spirit ) ( NNS brands ) ) ) ) )

Allied-Lyons while powerful in whiskey does n't own any major white-spirit brands


( S ( S-TPC-1 ( NP-SBJ-2 ( PRP We ) ) ( VP ( MD will ) ( ADVP ( RB certainly ) ) ( VP ( VB have ) ( S ( VP ( TO to ) ( VP ( VB take ) ( NP ( NP ( DT a ) ( NN look ) ) ( PP ( IN at ) ( NP ( DT the ) ( NNP Whitbread ) ( NNS spirits ) ( NN business ) ) ) ) ) ) ) ) ) ) ( NP-SBJ ( DT an ) ( NNP Allied-Lyons ) ( NN spokesman ) ) ( VP ( VBD said ) ) )

We will certainly have to take a look at the Whitbread spirits business an Allied-Lyons spokesman said


( S ( NP-SBJ-1 ( PRP We ) ) ( VP ( MD would ) ( ADVP ( RB certainly ) ) ( VP ( VB like ) ( S ( VP ( TO to ) ( VP ( VB have ) ( NP ( DT a ) ( JJ major ) ( JJ white-spirits ) ( NN brand ) ) ( PP-LOC-CLR ( IN in ) ( NP ( PRP$ our ) ( NN portfolio ) ) ) ) ) ) ) ) )

We would certainly like to have a major white-spirits brand in our portfolio


( S ( NP-SBJ ( NP ( DT A ) ( NNP Seagram ) ( NN spokesman ) ) ( PP-LOC ( IN in ) ( NP ( NNP New ) ( NNP York ) ) ) ) ( VP ( MD would ) ( RB n't ) ( VP ( VB comment ) ) ) )

A Seagram spokesman in New York would n't comment


( S ( NP-SBJ-1 ( NP ( JJR Smaller ) ( NN liquor ) ( NNS companies ) ) ( PP ( JJ such ) ( IN as ) ( NP ( NP ( NP ( NNP Brown-Forman ) ( NNP Corp. ) ) ( CC and ) ( NP ( NNP American ) ( NNPS Brands ) ( NNP Inc. ) ) ) ( PP ( IN of ) ( NP ( DT the ) ( NNP U.S. ) ) ) ) ) ) ( ADVP ( RB also ) ) ( VP ( VBP are ) ( ADJP-PRD ( JJ likely ) ( S ( VP ( TO to ) ( VP ( VB be ) ( ADJP-PRD ( JJ interested ) ) ) ) ) ) ) )

Smaller liquor companies such as Brown-Forman Corp. and American Brands Inc. of the U.S. also are likely to be interested


( SINV ( S-TPC-2 ( NP-SBJ-1 ( JJ Such ) ( NNS companies ) ) ( VP ( VBP are ) ( ADVP ( RB increasingly ) ) ( VP ( VBG being ) ( VP ( RB left ) ( ADVP-LOC-CLR ( RB behind ) ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( JJ global ) ( NN liquor ) ( NN business ) ) ) ) ) ) ) ( VP ( VBZ says ) ) ( NP-SBJ ( NP ( NN Nomura ) ( POS 's ) ) ( NNP Mr. ) ( NNP Littleboy ) ) )

Such companies are increasingly being left behind in the global liquor business says Nomura 's Mr. Littleboy


( S ( PP-LOC ( IN In ) ( NP ( NNP New ) ( NNP York ) ) ) ( NP-SBJ ( NP ( DT a ) ( NN spokesman ) ) ( PP ( IN for ) ( NP ( NNP American ) ( NNPS Brands ) ) ) ) ( VP ( MD would ) ( RB n't ) ( VP ( VB comment ) ) ) )

In New York a spokesman for American Brands would n't comment


( S ( NP-SBJ-1 ( NP ( NNP Brown-Forman ) ) ( NP ( DT a ) ( NAC-LOC ( NNP Louisville ) ( NNP Ky. ) ) ( NN distiller ) ) ) ( ADVP ( RB also ) ) ( VP ( VBD declined ) ( S ( VP ( TO to ) ( VP ( VB comment ) ) ) ) ) )

Brown-Forman a Louisville Ky. distiller also declined to comment


( S ( NP-SBJ ( NP ( NNP Whitbread ) ( POS 's ) ) ( UCP ( NN wine ) ( NNS spirits ) ( CC and ) ( NN soft-drink ) ) ( NNS operations ) ) ( VP ( VBD had ) ( NP ( NP ( NN trading ) ( NN profit ) ) ( PP ( IN of ) ( NP ( QP ( CD 35.4 ) ( CD million ) ) ) ) ( PP ( IN on ) ( NP ( NP ( NNS sales ) ) ( PP ( IN of ) ( NP ( QP ( CD 315.5 ) ( CD million ) ) ) ) ) ) ) ( PP-TMP ( IN in ) ( NP ( NP ( DT the ) ( NN year ) ) ( VP ( VBN ended ) ( NP-TMP ( NNP Feb. ) ( CD 25 ) ) ) ) ) ) )

Whitbread 's wine spirits and soft-drink operations had trading profit of 35.4 million on sales of 315.5 million in the year ended Feb. 25


( S ( NP-SBJ ( NP ( DT The ) ( NN company ) ) ( SBAR ( WHNP-1 ( WDT which ) ) ( S ( VP ( VBZ is ) ( VP ( VBG retaining ) ( NP ( NP ( NP ( JJS most ) ) ( PP ( IN of ) ( NP ( PRP$ its ) ( NN wine ) ) ) ) ( CC and ) ( NP ( NP ( DT all ) ) ( PP ( IN of ) ( NP ( PRP$ its ) ( NN soft-drink ) ) ) ) ( NX-2 ( NNS interests ) ) ) ) ) ) ) ) ( VP ( VBD did ) ( RB n't ) ( VP ( NN break ) ( PRT ( RP out ) ) ( NP ( NP ( NNS results ) ) ( PP ( IN for ) ( NP ( NP ( DT the ) ( NNS businesses ) ) ( SBAR ( S ( NP-SBJ-4 ( PRP it ) ) ( VP ( VBZ plans ) ( S ( VP ( TO to ) ( VP ( VB sell ) ) ) ) ) ) ) ) ) ) ) ) )

The company which is retaining most of its wine and all of its soft-drink interests did n't break out results for the businesses it plans to sell


( S ( CC But ) ( NP-SBJ ( NNS analysts ) ) ( VP ( VBP estimate ) ( NP ( PRP$ their ) ( NN trading ) ( NN profit ) ) ( PP-CLR ( IN at ) ( NP ( QP ( CD 30 ) ( CD million ) ) ) ) ) )

But analysts estimate their trading profit at 30 million


( S ( NP-SBJ ( NNP Whitbread ) ) ( VP ( VBD had ) ( NP ( NP ( JJ total ) ( JJ pretax ) ( NN profit ) ) ( PP-TMP ( IN in ) ( NP ( NP ( DT the ) ( NN year ) ) ( VP ( VBN ended ) ( NP-TMP ( NNP Feb. ) ( CD 25 ) ) ) ) ) ( PP ( IN of ) ( NP ( QP ( CD 223.2 ) ( CD million ) ) ) ) ( PP ( IN on ) ( NP ( NP ( NNS sales ) ) ( PP ( IN of ) ( NP ( QP ( CD 2.26 ) ( CD billion ) ) ) ) ) ) ) ) )

Whitbread had total pretax profit in the year ended Feb. 25 of 223.2 million on sales of 2.26 billion


( S ( NP-SBJ ( NP ( NNP Whitbread ) ( POS 's ) ) ( NNS spirits ) ( NN auction ) ) ( VP ( VBZ occurs ) ( PP-LOC ( IN amid ) ( NP ( NP ( DT a ) ( JJ parallel ) ( NN shakeup ) ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( JJ British ) ( NN beer ) ( NN industry ) ) ) ) ) ) )

Whitbread 's spirits auction occurs amid a parallel shakeup in the British beer industry


( S ( NP-TMP ( RB Earlier ) ( DT this ) ( NN year ) ) ( NP-SBJ ( DT the ) ( NN government ) ) ( VP ( VBD announced ) ( NP ( NNS plans ) ( S ( VP ( TO to ) ( VP ( VB foster ) ( NP ( NP ( VBN increased ) ( NN competition ) ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( NN industry ) ) ) ) ) ) ) ) ) )

Earlier this year the government announced plans to foster increased competition in the industry


( S ( NP-SBJ ( JJ British ) ( NNS brewers ) ) ( ADVP-TMP ( RB currently ) ) ( VP ( VBP own ) ( NP ( NP ( NNS thousands ) ) ( PP ( IN of ) ( NP ( NP ( NNS pubs ) ) ( SBAR ( WHNP-1 ( WDT which ) ) ( S ( PP ( RB in ) ( NP ( RB turn ) ) ) ( VP ( VBP sell ) ( ADVP ( RB only ) ) ( NP ( NP ( DT the ) ( NNS breweries ) ( POS ' ) ) ( NN beer ) ( CC and ) ( JJ soft ) ( NNS drinks ) ) ) ) ) ) ) ) ) )

British brewers currently own thousands of pubs which in turn sell only the breweries ' beer and soft drinks


( S ( PP-LOC ( IN Under ) ( NP ( JJ new ) ( NNS rules ) ) ) ( NP-SBJ ( NP ( JJ many ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( NN country ) ( POS 's ) ) ( NNS pubs ) ) ) ) ( VP ( MD would ) ( VP ( VB become ) ( NP-PRD-1 ( JJ free ) ( NNS houses ) ) ( S-ADV ( VP ( VBG selling ) ( NP ( NP ( NNS beers ) ) ( PP ( IN of ) ( NP ( PRP$ their ) ( NN choice ) ) ) ) ) ) ) ) )

Under new rules many of the country 's pubs would become free houses selling beers of their choice


( S ( NP-SBJ-1 ( NNP Whitbread ) ) ( ADVP-TMP ( RB now ) ) ( VP ( VBZ intends ) ( S ( VP ( TO to ) ( VP ( VB bolster ) ( NP ( PRP$ its ) ( NN brewing ) ( NNS interests ) ) ) ) ) ( PP-LOC ( IN in ) ( NP ( DT an ) ( NN effort ) ( S ( VP ( TO to ) ( VP ( VB grab ) ( NP ( NP ( DT a ) ( NN share ) ) ( PP ( IN of ) ( NP ( NP ( NNS sales ) ) ( PP ( TO to ) ( NP ( JJ free ) ( NNS houses ) ) ) ) ) ) ) ) ) ) ) ) )

Whitbread now intends to bolster its brewing interests in an effort to grab a share of sales to free houses


( S ( NP-SBJ ( NP ( DT The ) ( NN company ) ) ( SBAR ( WHNP-1 ( WDT which ) ) ( S ( NP-TMP ( JJ last ) ( NN month ) ) ( VP ( VBD paid ) ( NP ( QP ( CD 50.7 ) ( CD million ) ) ) ( PP-CLR ( IN for ) ( NP ( JJ regional ) ( JJ British ) ( NN brewer ) ( NNP Boddington ) ( NNP Group ) ( NNP PLC ) ) ) ) ) ) ) ( VP ( VBZ has ) ( NP ( NP ( QP ( IN about ) ( CD 13 ) ) ( NN % ) ) ( PP ( IN of ) ( NP ( DT the ) ( JJ British ) ( NN beer ) ( NN market ) ) ) ) ) )

The company which last month paid 50.7 million for regional British brewer Boddington Group PLC has about 13 % of the British beer market


( S ( NP-SBJ ( NNP Whitbread ) ) ( ADVP ( RB also ) ) ( VP ( VBZ owns ) ( NP ( DT the ) ( NN license ) ( S ( VP ( TO to ) ( VP ( VB brew ) ( CC and ) ( VB distribute ) ( NP ( NP ( NNP Heineken ) ) ( CC and ) ( NP ( NNP Stella ) ( NNP Artois ) ( NNS beers ) ) ) ( PP-LOC ( IN in ) ( NP ( NNP Britain ) ) ) ) ) ) ) ) )

Whitbread also owns the license to brew and distribute Heineken and Stella Artois beers in Britain


( S ( PP ( IN In ) ( NP ( NN addition ) ) ) ( NP-SBJ-1 ( NNP Whitbread ) ) ( VP ( VBZ intends ) ( S ( VP ( TO to ) ( VP ( VB focus ) ( PP-CLR ( IN on ) ( NP ( NP ( PRP$ its ) ( JJR newer ) ( NN hotel ) ( NN liquor ) ( NN store ) ( CC and ) ( NN restaurant ) ( NNS businesses ) ) ( PP-LOC ( IN in ) ( NP ( NP ( NNP Europe ) ) ( CC and ) ( NP ( NNP North ) ( NNP America ) ) ) ) ) ) ) ) ) ) )

In addition Whitbread intends to focus on its newer hotel liquor store and restaurant businesses in Europe and North America


( S ( PP-LOC ( IN In ) ( NP ( NNP Britain ) ) ) ( NP-SBJ ( DT those ) ( NNS interests ) ) ( VP ( VBP include ) ( NP ( NP ( DT the ) ( NNP Beefeater ) ( NN steakhouse ) ( NN chain ) ) ( CC and ) ( NP ( NP ( JJ joint ) ( NN ownership ) ) ( PP ( IN with ) ( NP ( NNP PepsiCo ) ( NNP Inc. ) ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( NN country ) ( POS 's ) ) ( NNP Pizza ) ( NNP Hut ) ( NN chain ) ) ) ) ) ) )

In Britain those interests include the Beefeater steakhouse chain and joint ownership with PepsiCo Inc. of the country 's Pizza Hut chain


( S ( PP-LOC ( IN In ) ( NP ( NP ( NNP Canada ) ) ( CC and ) ( NP ( DT the ) ( NNP U.S. ) ) ) ) ( NP-SBJ ( NNP Whitbread ) ) ( VP ( VBZ owns ) ( NP ( NP ( DT The ) ( NNP Keg ) ( NN chain ) ) ( PP ( IN of ) ( NP ( NN steak ) ( CC and ) ( NN seafood ) ( NNS restaurants ) ) ) ) ) )

In Canada and the U.S. Whitbread owns The Keg chain of steak and seafood restaurants


( S ( S-TPC-1 ( S-NOM-SBJ ( VP ( VBG Focusing ) ( PP-CLR ( IN on ) ( NP ( NN beer ) ( NNS restaurants ) ( CC and ) ( NNS hotels ) ) ) ) ) ( VP ( VBZ means ) ( SBAR ( S ( NP-SBJ ( PRP we ) ) ( VP ( MD can ) ( VP ( VB concentrate ) ( NP ( PRP$ our ) ( NNS skills ) ( CC and ) ( NNS resources ) ) ( ADVP-MNR ( RBR more ) ( RB effectively ) ) ) ) ) ) ) ) ( NP-SBJ ( NP ( NNP Peter ) ( NNP Jarvis ) ) ( NP ( NP ( NNP Whitbread ) ( POS 's ) ) ( NN managing ) ( NN director ) ) ) ( VP ( VBD said ) ( PP-LOC ( IN in ) ( NP ( DT a ) ( NN statement ) ) ) ) )

Focusing on beer restaurants and hotels means we can concentrate our skills and resources more effectively Peter Jarvis Whitbread 's managing director said in a statement


( S ( NP-SBJ ( DT The ) ( NNS spirits ) ( NN business ) ) ( VP ( MD would ) ( VP ( VB require ) ( NP ( JJ substantial ) ( JJ additional ) ( NN investment ) ) ( S-PRP ( VP ( TO to ) ( VP ( VB enable ) ( S ( NP-SBJ ( PRP it ) ) ( VP ( TO to ) ( VP ( VB compete ) ( ADVP-MNR ( RB effectively ) ) ( PP-LOC ( IN in ) ( NP ( NP ( DT the ) ( JJ first ) ( NN division ) ) ( PP ( IN of ) ( NP ( JJ global ) ( NNS players ) ) ) ) ) ) ) ) ) ) ) ) ) )

The spirits business would require substantial additional investment to enable it to compete effectively in the first division of global players


( S ( NP-SBJ ( NNP Whitbread ) ) ( ADVP ( RB also ) ) ( VP ( VBD announced ) ( SBAR ( IN that ) ( S ( NP-SBJ ( NP ( NNP Mr. ) ( NNP Jarvis ) ) ( SBAR ( WHNP-1 ( WP who ) ) ( S ( VP ( VBZ is ) ( NP-PRD ( CD 48 ) ) ) ) ) ) ( VP ( MD will ) ( VP ( VB become ) ( NP-PRD ( NP ( DT the ) ( NN company ) ( POS 's ) ) ( JJ chief ) ( NN executive ) ) ( NP-TMP ( NNP March ) ( CD 1 ) ) ) ) ) ) ) )

Whitbread also announced that Mr. Jarvis who is 48 will become the company 's chief executive March 1


( S ( PP-TMP ( IN At ) ( NP ( DT that ) ( NN time ) ) ) ( NP-SBJ ( NP ( NNP Sam ) ( NNP Whitbread ) ) ( NP ( NP ( NP ( DT the ) ( NN company ) ( POS 's ) ) ( NN chairman ) ) ( CC and ) ( NP ( NP ( DT a ) ( NN descendant ) ) ( PP ( IN of ) ( NP ( PRP$ its ) ( JJ 18th-century ) ( NN founder ) ) ) ) ) ) ( VP ( MD will ) ( VP ( VB retire ) ( PP-CLR ( IN from ) ( NP ( NN executive ) ( NNS duties ) ) ) ) ) )

At that time Sam Whitbread the company 's chairman and a descendant of its 18th-century founder will retire from executive duties


( S ( NP-SBJ ( PRP He ) ) ( VP ( MD will ) ( VP ( VB retain ) ( NP ( NP ( DT the ) ( JJ honorary ) ( NN title ) ) ( PP ( IN of ) ( NP ( JJ non-executive ) ( NN chairman ) ) ) ) ) ) )

He will retain the honorary title of non-executive chairman


( S ( NP-SBJ ( NNP Hunter ) ( NNP Environmental ) ( NNPS Services ) ( NNP Inc. ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBD reached ) ( NP ( DT a ) ( JJ preliminary ) ( NN accord ) ) ( PP ( IN on ) ( NP ( NP ( DT the ) ( NN sale ) ) ( PP ( IN of ) ( NP ( PRP$ its ) ( JJ environmental ) ( NN consulting ) ( CC and ) ( NNS services ) ( NN business ) ) ) ( PP ( IN for ) ( NP ( NP ( QP ( IN about ) ( CD 40 ) ( CD million ) ) ) ( CC and ) ( NP ( NP ( NN assumption ) ) ( PP ( IN of ) ( NP ( JJ related ) ( NN debt ) ) ) ) ) ) ) ) ) ) ) ) )

Hunter Environmental Services Inc. said it reached a preliminary accord on the sale of its environmental consulting and services business for about 40 million and assumption of related debt


( S ( NP-SBJ-1 ( DT The ) ( NN buyer ) ) ( VP ( VBD was ) ( RB n't ) ( VP ( VBN identified ) ) ) )

The buyer was n't identified


( S ( NP-SBJ ( DT The ) ( NN company ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ-1 ( PRP it ) ) ( ADVP ( RB also ) ) ( VP ( VBZ is ) ( VP ( VBG making ) ( NP ( NN progress ) ) ( PP ( IN in ) ( S-NOM ( VP ( VBG negotiating ) ( NP ( NP ( DT the ) ( NN buy-out ) ) ( PP ( IN of ) ( NP ( PRP$ its ) ( NN design ) ( NN division ) ) ) ( PP ( IN by ) ( NP ( NN management ) ) ) ) ) ) ) ) ) ) ) ) )

The company said it also is making progress in negotiating the buy-out of its design division by management


( S ( PP ( IN In ) ( NP ( NN addition ) ) ) ( NP-SBJ ( NNP Hunter ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ-2 ( PRP it ) ) ( VP ( MD will ) ( VP ( VB use ) ( NP ( NP ( NNS proceeds ) ) ( PP ( IN from ) ( NP ( NP ( DT a ) ( JJ private ) ( NN placement ) ) ( PP ( IN of ) ( NP ( NP ( QP ( CD 8 ) ( CD million ) ) ) ( PP ( IN of ) ( NP ( JJ preferred ) ( NNS shares ) ) ) ) ) ) ) ) ( S-CLR ( VP ( TO to ) ( VP ( VB purchase ) ( NP ( NP ( DT an ) ( NN interest ) ) ( PP-LOC ( IN in ) ( NP ( NP-SBJ ( DT a ) ( JJ start-up ) ( NN company ) ) ( SBAR ( S ( VP ( TO to ) ( VP ( VB underwrite ) ( NP ( JJ environmental ) ( NN impairment ) ( NN insurance ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

In addition Hunter said it will use proceeds from a private placement of 8 million of preferred shares to purchase an interest in a start-up company to underwrite environmental impairment insurance


( S ( NP-SBJ-1 ( NNP Hunter ) ) ( VP ( VBZ wants ) ( S ( VP ( TO to ) ( VP ( VB concentrate ) ( NP ( PRP$ its ) ( NNS resources ) ) ( PP-CLR ( PP ( IN on ) ( NP ( DT the ) ( NN insurance ) ( NN business ) ) ) ( CC and ) ( PP ( IN on ) ( NP ( NP ( DT a ) ( NN project ) ) ( SBAR ( S ( VP ( TO to ) ( VP ( VB store ) ( NP ( JJ hazardous ) ( NNS wastes ) ) ( PP-LOC ( IN in ) ( NP ( NN salt ) ( NNS domes ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Hunter wants to concentrate its resources on the insurance business and on a project to store hazardous wastes in salt domes


( S ( NP-SBJ ( NNP Digital ) ( NNP Equipment ) ( NNP Corp. ) ) ( VP ( VBZ is ) ( VP ( VBG planning ) ( NP ( NP ( DT a ) ( JJ big ) ( JJ coming-out ) ( NN party ) ) ( PP-TMP ( IN on ) ( NP ( NNP Tuesday ) ) ) ( PP ( IN for ) ( NP ( NP ( PRP$ its ) ( JJ first ) ( NN line ) ) ( PP ( IN of ) ( NP ( NN mainframe ) ( NNS computers ) ) ) ) ) ) ) ) )

Digital Equipment Corp. is planning a big coming-out party on Tuesday for its first line of mainframe computers


( S ( CC But ) ( NP-SBJ-1 ( DT an ) ( JJ uninvited ) ( NN guest ) ) ( VP ( VBZ is ) ( VP ( VBN expected ) ( S ( VP ( TO to ) ( VP ( VB try ) ( S ( VP ( TO to ) ( VP ( VB crash ) ( NP ( DT the ) ( NN party ) ) ) ) ) ) ) ) ) ) )

But an uninvited guest is expected to try to crash the party


( NP ( S ( PP-TMP ( IN On ) ( NP ( NP ( DT the ) ( NN morning ) ) ( PP ( IN of ) ( NP ( DT the ) ( JJ long-planned ) ( NN announcement ) ) ) ) ) ( NP-SBJ-1 ( NNP International ) ( NNP Business ) ( NNPS Machines ) ( NNP Corp. ) ) ( VP ( VBZ is ) ( S ( VP ( TO to ) ( VP ( VB introduce ) ( NP ( PRP$ its ) ( JJ own ) ( JJ new ) ( NN mainframe ) ) ) ) ) ) ) )

On the morning of the long-planned announcement International Business Machines Corp. is to introduce its own new mainframe


( SINV ( S-TPC-2 ( NP-SBJ ( PRP$ Their ) ( NN attitude ) ) ( VP ( VBZ is ) ( S-PRD ( S ( NP-SBJ-1 ( PRP You ) ) ( VP ( VBP want ) ( S ( VP ( TO to ) ( VP ( VB talk ) ( NP ( NNS mainframes ) ) ) ) ) ) ) ( S ( NP-SBJ ( PRP we ) ) ( VP ( MD 'll ) ( VP ( VB talk ) ( NP ( NNS mainframes ) ) ) ) ) ) ) ) ( VP ( VBZ says ) ) ( NP-SBJ ( CD one ) ( NN computer ) ( NN industry ) ( NN executive ) ) )

Their attitude is You want to talk mainframes we 'll talk mainframes says one computer industry executive


( S ( S-TPC-2 ( NP-SBJ-1 ( PRP They ) ) ( VP ( VBP 're ) ( VP ( ADVP ( RB deliberately ) ) ( VBG trying ) ( S ( VP ( TO to ) ( VP ( VB steal ) ( NP ( PRP$ our ) ( NN thunder ) ) ) ) ) ) ) ) ( NP-SBJ ( DT a ) ( NNP Digital ) ( NN executive ) ) ( VP ( VBZ complains ) ) )

They 're deliberately trying to steal our thunder a Digital executive complains


( S ( ADVP ( RB Maybe ) ) ( NP-SBJ ( PRP we ) ) ( VP ( MD should ) ( VP ( VB take ) ( NP ( PRP it ) ) ( PP-CLR ( IN as ) ( NP ( DT a ) ( NN compliment ) ) ) ) ) )

Maybe we should take it as a compliment


( S ( NP-SBJ ( NP ( NNP Digital ) ( POS 's ) ) ( NN target ) ) ( VP ( VBZ is ) ( NP-PRD ( NP ( DT the ) ( ADJP ( QP ( CD 40 ) ( CD billion ) ) ) ( NN market ) ) ( PP ( IN for ) ( NP ( NP ( NN mainframe ) ( NNS computers ) ) ( NP ( NP ( DT the ) ( JJ closet-sized ) ( NNS number-crunchers ) ) ( SBAR ( WHNP-1 ( IN that ) ) ( S ( NP-SBJ-2 ( RB nearly ) ( DT every ) ( JJ big ) ( NN company ) ) ( VP ( VBZ needs ) ( S-PRP-CLR ( VP ( TO to ) ( VP ( VB run ) ( NP ( PRP$ its ) ( NN business ) ) ) ) ) ) ) ) ) ) ) ) ) )

Digital 's target is the 40 billion market for mainframe computers the closet-sized number-crunchers that nearly every big company needs to run its business


( S ( NP-SBJ ( NP ( NNP IBM ) ) ( VP ( VBN based ) ( PP-LOC-CLR ( IN in ) ( NP ( NP ( NNP Armonk ) ) ( NP ( NNP N.Y. ) ) ) ) ) ) ( VP ( VBZ has ) ( VP ( VBN dominated ) ( NP ( DT the ) ( NN market ) ) ( PP-TMP ( IN for ) ( NP ( NNS decades ) ) ) ) ) )

IBM based in Armonk N.Y. has dominated the market for decades


( S ( NP-SBJ ( IN That ) ) ( VP ( VBZ does ) ( RB n't ) ( VP ( VB scare ) ( NP ( NP ( NNP Digital ) ) ( SBAR ( WHNP-1 ( WDT which ) ) ( S ( VP ( VBZ has ) ( VP ( VBN grown ) ( S ( VP ( TO to ) ( VP ( VB be ) ( NP-PRD ( NP ( DT the ) ( NN world ) ( POS 's ) ) ( JJ second-largest ) ( NN computer ) ( NN maker ) ) ) ) ) ( PP-MNR ( IN by ) ( S-NOM ( VP ( VBG poaching ) ( NP ( NP ( NNS customers ) ) ( PP ( IN of ) ( NP ( NP ( NNP IBM ) ( POS 's ) ) ( JJ mid-range ) ( NNS machines ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

That does n't scare Digital which has grown to be the world 's second-largest computer maker by poaching customers of IBM 's mid-range machines


( S ( S ( NP-SBJ-1 ( NP ( NNP Digital ) ) ( VP ( VBN based ) ( PP ( IN in ) ( NP ( NP ( NNP Maynard ) ) ( NP ( NNP Mass. ) ) ) ) ) ) ( VP ( VBZ hopes ) ( S ( VP ( TO to ) ( VP ( VB stage ) ( NP ( NP ( DT a ) ( NN repeat ) ( NN performance ) ) ( PP-LOC ( IN in ) ( NP ( NNS mainframes ) ) ) ) ) ) ) ) ) ( CC and ) ( S ( NP-SBJ-2 ( PRP it ) ) ( VP ( VBZ has ) ( VP ( VBN spent ) ( NP ( QP ( RB almost ) ( CD 1 ) ( CD billion ) ) ) ( S-CLR ( VP ( VBG developing ) ( NP ( DT the ) ( JJ new ) ( NN technology ) ) ) ) ) ) ) )

Digital based in Maynard Mass. hopes to stage a repeat performance in mainframes and it has spent almost 1 billion developing the new technology


( S ( NP-SBJ ( NP ( DT A ) ( NN spoiler ) ) ( NP ( NP ( JJ nimble ) ( NNP Tandem ) ( NNPS Computers ) ( NNP Inc. ) ) ( PP-LOC ( IN in ) ( NP ( NP ( NNP Cupertino ) ) ( NP ( NNP Calif. ) ) ) ) ) ) ( VP ( VBD jumped ) ( PP-DIR ( IN into ) ( NP ( DT the ) ( NN fray ) ) ) ( NP-TMP ( RB earlier ) ( DT this ) ( NN week ) ) ( PP ( IN with ) ( NP ( DT an ) ( ADJP ( RB aggressively ) ( VBN priced ) ) ( NN entry ) ) ) ) )

A spoiler nimble Tandem Computers Inc. in Cupertino Calif. jumped into the fray earlier this week with an aggressively priced entry


( S ( NP-SBJ ( NNP IBM ) ) ( VP ( VBZ appears ) ( ADJP-PRD ( RBR more ) ( JJ worried ) ( PP ( IN about ) ( NP ( NP ( NNP Digital ) ) ( SBAR ( WHNP-1 ( WDT which ) ) ( S ( VP ( VBZ has ) ( NP ( NP ( DT a ) ( JJ broad ) ( NN base ) ) ( PP ( IN of ) ( NP ( NP ( NNS customers ) ) ( VP ( VBG waiting ) ( PP-CLR ( IN for ) ( NP ( NP ( DT the ) ( JJ new ) ( NN line ) ) ( VP ( VBD dubbed ) ( S ( NP-PRD ( DT the ) ( NNP VAX ) ( CD 9000 ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

IBM appears more worried about Digital which has a broad base of customers waiting for the new line dubbed the VAX 9000


( SINV ( S-TPC-1 ( NP-SBJ-2 ( PRP It ) ) ( VP ( VBZ 's ) ( VP ( VBG going ) ( S ( VP ( TO to ) ( VP ( VB be ) ( NP-PRD ( JJ nuclear ) ( NN war ) ) ) ) ) ) ) ) ( VP ( VBZ says ) ) ( NP-SBJ ( NP ( NNP Thomas ) ( NNP Willmott ) ) ( NP ( NP ( DT a ) ( NN consultant ) ) ( PP ( IN with ) ( NP ( NNP Aberdeen ) ( NNP Group ) ( NNP Inc ) ) ) ) ) )

It 's going to be nuclear war says Thomas Willmott a consultant with Aberdeen Group Inc


( S ( NP-SBJ-1 ( NP ( DT The ) ( NN surge ) ) ( PP-LOC ( IN in ) ( NP ( NN competition ) ) ) ) ( VP ( VBZ is ) ( VP ( VBN expected ) ( S ( VP ( TO to ) ( VP ( VB stir ) ( NP ( JJ new ) ( NN life ) ) ( PP-LOC-CLR ( IN into ) ( NP ( NP ( DT the ) ( JJ huge ) ( NN mainframe ) ( NN market ) ) ( SBAR ( WHADVP-2 ( WRB where ) ) ( S ( NP-SBJ ( NN growth ) ) ( VP ( VBZ has ) ( VP ( VBN slowed ) ( PP-CLR ( TO to ) ( NP ( JJ single ) ( NNS digits ) ) ) ( PP-TMP ( IN in ) ( NP ( JJ recent ) ( NNS years ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

The surge in competition is expected to stir new life into the huge mainframe market where growth has slowed to single digits in recent years


( S ( NP-SBJ ( NP ( NP ( NNP IBM ) ( POS 's ) ) ( JJ traditional ) ( NN mainframe ) ( NNS rivals ) ) ( PP ( VBG including ) ( NP ( NP ( NNP Unisys ) ( NNP Corp. ) ) ( NP ( NNP Control ) ( NNP Data ) ( NNP Corp. ) ) ( CC and ) ( NP ( NNP NCR ) ( NNP Corp. ) ) ) ) ) ( VP ( VBP have ) ( VP ( VBN struggled ) ( ADVP-TMP ( RB recently ) ) ) ) )

IBM 's traditional mainframe rivals including Unisys Corp. Control Data Corp. and NCR Corp. have struggled recently


( S ( NP-SBJ ( NNP Digital ) ) ( VP ( VBZ is ) ( VP ( VBG promising ) ( NP ( DT a ) ( JJ new ) ( NN approach ) ) ) ) )

Digital is promising a new approach


( S ( NP-SBJ ( NP ( NNP Robert ) ( NNP M. ) ( NNP Glorioso ) ) ( NP ( NP ( NP ( NNP Digital ) ( POS 's ) ) ( NN vice ) ( NN president ) ) ( PP ( IN for ) ( NP ( JJ high ) ( NN performance ) ( NNS systems ) ) ) ) ) ( VP ( VBZ says ) ( SBAR ( S ( NP-SBJ-1 ( NP ( NNP Digital ) ( POS 's ) ) ( NN mainframe ) ) ( VP ( VBZ is ) ( VP ( VBN designed ) ( PP-CLR ( RB not ) ( PP ( IN as ) ( NP ( NP ( DT a ) ( JJ central ) ( NN computer ) ) ( SBAR ( WHPP-2 ( IN around ) ( WHNP ( WDT which ) ) ) ( S ( NP-SBJ ( NN everything ) ) ( VP ( VBZ revolves ) ) ) ) ) ) ( CC but ) ( PP ( IN as ) ( NP ( NP ( NN part ) ) ( PP ( IN of ) ( NP ( NP ( DT a ) ( JJ decentralized ) ( NN network ) ) ( VP ( VBG weaving ) ( ADVP-CLR ( RB together ) ) ( NP ( NP ( NNS hundreds ) ) ( PP ( IN of ) ( NP ( NP ( NNS workstations ) ) ( NP ( JJ personal ) ( NNS computers ) ) ( NP ( NNS printers ) ) ( CC and ) ( NP ( JJ other ) ( NNS devices ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Robert M. Glorioso Digital 's vice president for high performance systems says Digital 's mainframe is designed not as a central computer around which everything revolves but as part of a decentralized network weaving together hundreds of workstations personal computers printers and other devices


( S ( CC And ) ( PP ( IN unlike ) ( NP ( NP ( NNP IBM ) ( POS 's ) ) ( JJ water-cooled ) ( NNS mainframes ) ) ) ( NP-SBJ ( PRP it ) ) ( VP ( VBZ does ) ( RB n't ) ( VP ( VB need ) ( NP ( DT any ) ( NN plumbing ) ) ) ) )

And unlike IBM 's water-cooled mainframes it does n't need any plumbing


( S ( NP-SBJ ( DT The ) ( NNS challengers ) ) ( VP ( MD will ) ( VP ( VB have ) ( NP ( DT a ) ( JJ big ) ( NN price ) ( NN advantage ) ) ) ) )

The challengers will have a big price advantage


( S ( NP-SBJ-1 ( NNP Digital ) ) ( VP ( VBZ is ) ( VP ( VBN expected ) ( S ( VP ( TO to ) ( VP ( VB tag ) ( NP ( PRP$ its ) ( JJ new ) ( NN line ) ) ( PP-CLR ( PP ( IN from ) ( NP ( QP ( IN about ) ( CD 1.24 ) ( CD million ) ) ) ) ( PP ( TO to ) ( NP ( QP ( CD 4.4 ) ( CD million ) ) ( QP ( CC and ) ( RB up ) ) ) ) ) ( S-ADV ( VP ( VBG depending ) ( PP-CLR ( IN on ) ( NP ( NN configuration ) ) ) ) ) ) ) ) ) ) )

Digital is expected to tag its new line from about 1.24 million to 4.4 million and up depending on configuration


( S ( NP-SBJ ( DT That ) ) ( VP ( VBZ 's ) ( NP-PRD ( NP ( QP ( IN about ) ( NN half ) ) ( DT the ) ( NN price ) ) ( PP ( IN of ) ( NP ( ADJP ( RB comparably ) ( VBN equipped ) ) ( NNP IBM ) ( NNS mainframes ) ) ) ) ) )

That 's about half the price of comparably equipped IBM mainframes


( S ( NP-SBJ ( NP ( NNP Tandem ) ( POS 's ) ) ( NN pricing ) ) ( VP ( VBZ is ) ( ADJP-PRD ( ADVP ( RB just ) ( RB as ) ) ( JJ aggressive ) ) ) )

Tandem 's pricing is just as aggressive


( S ( NP-SBJ ( DT The ) ( JJ heightened ) ( NN competition ) ) ( VP ( MD will ) ( VP ( VB hit ) ( NP ( NNP IBM ) ) ( PP-TMP ( IN at ) ( NP ( DT a ) ( JJ difficult ) ( NN time ) ) ) ) ) )

The heightened competition will hit IBM at a difficult time


( S ( NP-SBJ-2 ( NP ( NP ( DT The ) ( NN computer ) ( NN giant ) ( POS 's ) ) ( JJ current ) ( NN mainframe ) ( NN line ) ) ( SBAR ( WHNP-1 ( WDT which ) ) ( S ( VP ( VP ( VBZ has ) ( VP ( VBN sold ) ( ADVP-MNR ( RB well ) ) ) ) ( CC and ) ( VP ( VBZ has ) ( NP ( JJ huge ) ( NN profit ) ( NNS margins ) ) ) ) ) ) ) ( VP ( VBZ is ) ( VP ( VBG starting ) ( S ( VP ( TO to ) ( VP ( VB show ) ( NP ( PRP$ its ) ( NN age ) ) ) ) ) ) ) )

The computer giant 's current mainframe line which has sold well and has huge profit margins is starting to show its age


( S ( NP-SBJ ( NP ( DT The ) ( JJ new ) ( NNS 3090s ) ) ( ADJP ( JJ due ) ( NP-TMP ( JJ next ) ( NN week ) ) ) ) ( VP ( MD will ) ( VP ( VB boost ) ( NP ( NN performance ) ) ( PP-EXT ( IN by ) ( NP ( QP ( RB only ) ( IN about ) ( CD 8 ) ( NN % ) ( TO to ) ( CD 10 ) ( NN % ) ) ) ) ) ) )

The new 3090s due next week will boost performance by only about 8 % to 10 %


( S ( CC And ) ( NP-SBJ-1 ( NNP IBM ) ) ( VP ( VBZ is ) ( RB n't ) ( VP ( VBN expected ) ( S ( VP ( TO to ) ( VP ( VB deliver ) ( NP ( NP ( DT a ) ( JJ new ) ( NN generation ) ) ( PP ( IN of ) ( NP ( NNS mainframes ) ) ) ) ( PP-TMP ( IN until ) ( NP ( CD 1991 ) ) ) ) ) ) ) ) )

And IBM is n't expected to deliver a new generation of mainframes until 1991


( S ( ADVP ( RB Still ) ) ( NP-SBJ ( DT no ) ( NN one ) ) ( VP ( VBZ expects ) ( S ( NP-SBJ ( NP ( NNP IBM ) ( POS 's ) ) ( NNS rivals ) ) ( VP ( TO to ) ( VP ( VB deliver ) ( NP ( DT a ) ( NN knockout ) ) ) ) ) ) )

Still no one expects IBM 's rivals to deliver a knockout


( S ( NP-SBJ ( NNP IBM ) ) ( VP ( VBZ has ) ( NP ( NP ( DT a ) ( NN near-monopoly ) ) ( PP-LOC ( IN on ) ( NP ( NNS mainframes ) ) ) ) ( PP ( IN with ) ( NP ( NP ( DT an ) ( ADJP ( QP ( VBN estimated ) ( CD 70 ) ) ( NN % ) ) ( NN share ) ) ( PP ( IN of ) ( NP ( DT the ) ( NN market ) ) ) ) ) ) )

IBM has a near-monopoly on mainframes with an estimated 70 % share of the market


( S ( NP-SBJ ( NNP IBM ) ) ( VP ( VP ( VBZ is ) ( NP-PRD ( NP ( NP ( QP ( CD five ) ( NNS times ) ) ( DT the ) ( NN size ) ) ( PP ( IN of ) ( NP ( NNP Digital ) ) ) ) ( PRN ( CC and ) ( NP ( NP ( QP ( CD 40 ) ( NNS times ) ) ( DT the ) ( NN size ) ) ( PP ( IN of ) ( NP ( NNP Tandem ) ) ) ) ) ) ) ( CC and ) ( VP ( VBZ wields ) ( NP ( JJ enormous ) ( NN market ) ( NN power ) ) ) ) )

IBM is five times the size of Digital and 40 times the size of Tandem and wields enormous market power


( S ( NP-SBJ ( PRP It ) ) ( VP ( VBZ counts ) ( PP-LOC ( IN among ) ( NP ( PRP$ its ) ( NNS customers ) ) ) ( NP ( NP ( DT a ) ( NN majority ) ) ( PP ( IN of ) ( NP ( NP ( NP ( DT the ) ( NN world ) ( POS 's ) ) ( JJS largest ) ( NNS corporations ) ) ( SBAR ( WHNP-1 ( WDT which ) ) ( S ( VP ( VBP entrust ) ( NP ( PRP$ their ) ( ADJP ( RBS most ) ( JJ critical ) ) ( NN business ) ( NN information ) ) ( PP-CLR ( TO to ) ( NP ( NNP IBM ) ( NNS computers ) ) ) ) ) ) ) ) ) ) )

It counts among its customers a majority of the world 's largest corporations which entrust their most critical business information to IBM computers


( SINV ( S-TPC-2 ( NP-SBJ-1 ( PRP We ) ) ( VP ( VBP 're ) ( RB not ) ( VP ( VBG going ) ( S ( VP ( TO to ) ( VP ( VP ( VB walk ) ( ADVP-DIR ( RB in ) ) ) ( CC and ) ( VP ( VB replace ) ( NP ( NP ( DT a ) ( NN company ) ( POS 's ) ) ( JJ corporate ) ( NN accounting ) ( NN system ) ) ) ( SBAR-ADV ( IN if ) ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBZ 's ) ( ADVP ( RB already ) ) ( VP ( VBG running ) ( PP-LOC ( IN on ) ( NP ( DT an ) ( NNP IBM ) ( NN mainframe ) ) ) ) ) ) ) ) ) ) ) ) ) ( VP ( VBZ concedes ) ) ( NP-SBJ ( NP ( NNP Kenneth ) ( NNP H. ) ( NNP Olsen ) ) ( NP ( NP ( NNP Digital ) ( POS 's ) ) ( NN president ) ) ) )

We 're not going to walk in and replace a company 's corporate accounting system if it 's already running on an IBM mainframe concedes Kenneth H. Olsen Digital 's president


( S ( NP-SBJ ( PRP He ) ) ( VP ( VBZ says ) ( SBAR ( S ( NP-SBJ ( NNP Digital ) ) ( VP ( MD will ) ( VP ( VB target ) ( NP ( NP ( JJR faster-growing ) ( NN market ) ( NNS segments ) ) ( PP ( JJ such ) ( IN as ) ( NP ( NP ( JJ on-line ) ( NN transaction ) ( NN processing ) ) ( SBAR ( WHNP-1 ( WDT which ) ) ( S ( VP ( VBZ includes ) ( NP ( NP ( NNS retail-sales ) ( NN tracking ) ) ( NP ( NN airline ) ( NNS reservations ) ) ( CC and ) ( NP ( NN bank-teller ) ( NNS networks ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

He says Digital will target faster-growing market segments such as on-line transaction processing which includes retail-sales tracking airline reservations and bank-teller networks


( S ( NP-SBJ ( NP ( NNP Tandem ) ) ( SBAR ( WHNP-1 ( WDT which ) ) ( S ( ADVP ( RB already ) ) ( VP ( VBZ specializes ) ( PP-CLR ( IN in ) ( NP ( JJ on-line ) ( NN transaction ) ( NN processing ) ) ) ) ) ) ) ( VP ( VBZ is ) ( NP-PRD ( DT a ) ( JJ potent ) ( NN competitor ) ) ( PP-LOC ( IN in ) ( NP ( DT that ) ( NN market ) ) ) ) )

Tandem which already specializes in on-line transaction processing is a potent competitor in that market


( S ( NP-SBJ ( NP ( DT A ) ( NN key ) ( NN marketing ) ( NN target ) ) ( PP ( IN for ) ( NP ( NNP Digital ) ) ) ) ( VP ( MD will ) ( VP ( VB be ) ( NP-PRD ( NP ( DT the ) ( JJ large ) ( NN number ) ) ( PP ( IN of ) ( NP ( NP ( JJ big ) ( NNS customers ) ) ( SBAR ( WHNP-1 ( WP who ) ) ( S ( ADVP ( RB already ) ) ( VP ( VBP own ) ( NP ( DT both ) ( NNP Digital ) ( CC and ) ( NNP IBM ) ( NNS systems ) ) ) ) ) ) ) ) ) ) )

A key marketing target for Digital will be the large number of big customers who already own both Digital and IBM systems


( S ( NP-SBJ ( CD One ) ( JJ such ) ( NN company ) ) ( VP ( VBZ is ) ( NP-PRD ( NNPS Bankers ) ( NNP Trust ) ( NNP Co ) ) ) )

One such company is Bankers Trust Co


( S ( NP-SBJ ( NP ( NNP Stanley ) ( NNP Rose ) ) ( NP ( NP ( NP ( DT a ) ( NN vice ) ( NN president ) ) ( NP ( ADJP ( JJ technological ) ( CC and ) ( JJ strategic ) ) ( NN planning ) ) ) ( PP-LOC ( IN at ) ( NP ( NNPS Bankers ) ( NNP Trust ) ) ) ) ) ( VP ( VBZ says ) ( SBAR ( IN that ) ( S ( PP ( IN despite ) ( NP ( NP ( NNP Digital ) ( POS 's ) ) ( JJ low ) ( NNS prices ) ) ) ( NP-SBJ-1 ( PRP we ) ) ( VP ( VBP are ) ( RB n't ) ( VP ( IN about ) ( S ( VP ( TO to ) ( VP ( VB unplug ) ( NP ( PRP$ our ) ( NNP IBM ) ( NNS mainframes ) ) ( PP ( IN for ) ( NP ( DT a ) ( NNP DEC ) ( NN machine ) ) ) ) ) ) ) ) ) ) ) )

Stanley Rose a vice president technological and strategic planning at Bankers Trust says that despite Digital 's low prices we are n't about to unplug our IBM mainframes for a DEC machine


( S ( NP-SBJ ( DT The ) ( NN software ) ( NN conversion ) ( NNS costs ) ) ( VP ( MD would ) ( VP ( VB dwarf ) ( NP ( DT any ) ( NNS savings ) ) ) ) )

The software conversion costs would dwarf any savings


( S ( CC But ) ( NP-SBJ ( NNP Mr. ) ( NNP Rose ) ) ( VP ( VBZ is ) ( ADVP ( RB still ) ) ( VP ( VBG looking ) ( ADVP-MNR ( RB seriously ) ) ( PP-CLR ( IN at ) ( NP ( DT the ) ( CD 9000 ) ) ) ) ) )

But Mr. Rose is still looking seriously at the 9000


( S ( S-TPC-3 ( NP-SBJ-2 ( NNPS Bankers ) ( NNP Trust ) ) ( VP ( VBZ uses ) ( NP ( NP ( NNP Digital ) ( POS 's ) ) ( NNP VAX ) ) ( S-CLR ( VP ( TO to ) ( VP ( VB run ) ( NP ( PRP$ its ) ( JJ huge ) ( UCP ( NN money-transfer ) ( CC and ) ( NN capital ) ( NNS markets ) ) ( NNS accounts ) ) ) ) ) ( S-ADV ( VP ( VBG juggling ) ( NP ( NP ( NNS hundreds ) ) ( PP ( IN of ) ( NP ( NP ( NNS billions ) ) ( PP ( IN of ) ( NP ( NNS dollars ) ) ) ) ) ) ( NP-TMP ( DT each ) ( NN day ) ) ) ) ) ) ( NP-SBJ ( PRP he ) ) ( VP ( VBZ says ) ) )

Bankers Trust uses Digital 's VAX to run its huge money-transfer and capital markets accounts juggling hundreds of billions of dollars each day he says


( S ( SBAR-TMP ( IN As ) ( S ( NP-SBJ ( DT that ) ( NN system ) ) ( VP ( VBZ grows ) ) ) ) ( NP-SBJ-1 ( JJR larger ) ( NNS computers ) ) ( VP ( MD may ) ( VP ( VB be ) ( VP ( VBN needed ) ) ) ) )

As that system grows larger computers may be needed


( S ( PP-TMP ( IN In ) ( NP ( DT the ) ( NN past ) ) ) ( NP-SBJ-1 ( NNS customers ) ) ( VP ( VBD had ) ( S ( VP ( TO to ) ( VP ( VB go ) ( PP-DIR ( TO to ) ( NP ( NNP IBM ) ) ) ( SBAR-TMP ( WHADVP-2 ( WRB when ) ) ( S ( NP-SBJ ( PRP they ) ) ( VP ( VBD outgrew ) ( NP ( DT the ) ( NNP VAX ) ) ) ) ) ) ) ) ) )

In the past customers had to go to IBM when they outgrew the VAX


( S ( S-TPC-2 ( ADVP-TMP ( RB Now ) ) ( NP-SBJ-1 ( PRP they ) ) ( VP ( VBP do ) ( RB n't ) ( VP ( VB have ) ( S ( VP ( TO to ) ) ) ) ) ) ( NP-SBJ ( PRP he ) ) ( VP ( VBZ says ) ) )

Now they do n't have to he says


( S ( NP-SBJ-1 ( DT That ) ) ( VP ( VBZ 's ) ( VP ( VBG going ) ( S ( VP ( TO to ) ( VP ( VB cost ) ( NP ( NNP IBM ) ) ( NP ( NN revenue ) ) ) ) ) ) ) )

That 's going to cost IBM revenue


( S ( NP-SBJ ( NNS Analysts ) ) ( VP ( VBP say ) ( SBAR ( S ( NP-SBJ ( NNP Digital ) ) ( VP ( MD can ) ( VP ( VB expect ) ( S ( NP-SBJ ( NP ( DT this ) ( JJ pent-up ) ( NN demand ) ) ( PP ( IN for ) ( NP ( DT the ) ( JJ new ) ( NNP VAX ) ) ) ) ( VP ( TO to ) ( VP ( VB fuel ) ( NP ( JJ strong ) ( NNS sales ) ) ( NP-TMP ( IN next ) ( NN year ) ) ) ) ) ) ) ) ) ) )

Analysts say Digital can expect this pent-up demand for the new VAX to fuel strong sales next year


( S ( NP-SBJ ( NP ( NNP Barry ) ( NNP F. ) ( NNP Willman ) ) ( NP ( NP ( DT an ) ( NN analyst ) ) ( PP-LOC ( IN at ) ( NP ( NNP Sanford ) ( NNP C. ) ( NNP Bernstein ) ( CC & ) ( NNP Co. ) ) ) ) ) ( VP ( VBZ estimates ) ( SBAR ( S ( NP-SBJ ( DT the ) ( CD 9000 ) ) ( VP ( MD could ) ( VP ( VB boost ) ( NP ( NNS sales ) ) ( PP-EXT ( IN by ) ( NP ( QP ( JJR more ) ( IN than ) ( CD 1 ) ( CD billion ) ) ) ) ( PP-TMP ( IN in ) ( NP ( NP ( DT the ) ( JJ fiscal ) ( NN year ) ) ( VP ( VBG beginning ) ( PP-TMP ( IN in ) ( NP ( NNP July ) ) ) ) ) ) ) ) ) ) ) )

Barry F. Willman an analyst at Sanford C. Bernstein & Co. estimates the 9000 could boost sales by more than 1 billion in the fiscal year beginning in July


( S ( NP-SBJ ( PRP He ) ) ( VP ( VBZ bases ) ( NP ( DT the ) ( NN estimate ) ) ( PP-CLR ( IN on ) ( NP ( NP ( DT a ) ( NN survey ) ) ( PP ( IN of ) ( NP ( NP ( NNS hundreds ) ) ( PP ( IN of ) ( NP ( NP ( NNP Digital ) ( POS 's ) ) ( JJS largest ) ( NNS customers ) ) ) ) ) ) ) ) )

He bases the estimate on a survey of hundreds of Digital 's largest customers


( S ( SBAR-ADV ( IN Although ) ( S ( NP-SBJ ( NNP Digital ) ) ( VP ( MD will ) ( VP ( VB announce ) ( NP ( NP ( DT a ) ( JJ full ) ( NN family ) ) ( PP ( IN of ) ( NP ( NNS mainframes ) ) ) ) ( NP-TMP ( IN next ) ( NN week ) ) ) ) ) ) ( NP-SBJ-1 ( PRP it ) ) ( VP ( VBZ is ) ( RB n't ) ( VP ( VBN expected ) ( S ( VP ( TO to ) ( VP ( VB begin ) ( S ( VP ( VBG shipping ) ( PP-MNR ( IN in ) ( NP ( NN volume ) ) ) ) ) ( PP-TMP ( IN until ) ( NP ( JJ next ) ( NN year ) ) ) ) ) ) ) ) )

Although Digital will announce a full family of mainframes next week it is n't expected to begin shipping in volume until next year


( SINV ( S-TPC-3 ( NP-SBJ ( NP ( DT The ) ( JJ first ) ( NN model ) ) ( ADJP ( JJ available ) ) ) ( VP ( MD will ) ( VP ( VB be ) ( NP-PRD ( NP ( DT the ) ( CD 210 ) ) ( SBAR ( WHNP-1 ( WDT which ) ) ( S ( VP ( VBZ is ) ( ADJP-PRD ( JJ likely ) ( S ( VP ( TO to ) ( VP ( VB appeal ) ( PP-CLR ( TO to ) ( NP ( NP ( JJ many ) ( ADJP ( JJ technical ) ( CC and ) ( JJ scientific ) ) ( NNS buyers ) ) ( VP ( VBN interested ) ( PP-CLR ( IN in ) ( NP ( DT the ) ( JJ optional ) ( NN super-charger ) ( CC or ) ( NN vector ) ( NN processor ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ( VP ( VBZ says ) ) ( NP-SBJ ( NP ( NNP Terry ) ( NNP Shannon ) ) ( PP ( IN of ) ( NP ( NP ( NNP International ) ( NNP Data ) ( NNP Corp. ) ) ( NP ( DT a ) ( NN market ) ( NN research ) ( NN concern ) ) ) ) ) )

The first model available will be the 210 which is likely to appeal to many technical and scientific buyers interested in the optional super-charger or vector processor says Terry Shannon of International Data Corp. a market research concern


( S ( NP-SBJ-1 ( NP ( CD Four ) ( JJR more ) ( NNS models ) ) ( VP ( VBD aimed ) ( ADVP ( RB squarely ) ) ( PP-CLR ( IN at ) ( NP ( NP ( NNP IBM ) ( POS 's ) ) ( JJ commercial ) ( NNS customers ) ) ) ) ) ( VP ( VBP are ) ( VP ( VBN expected ) ( S ( VP ( TO to ) ( VP ( VB begin ) ( S ( VP ( VBG shipping ) ) ) ( PP-TMP ( IN in ) ( NP ( JJ late ) ( NNP June ) ) ) ) ) ) ) ) )

Four more models aimed squarely at IBM 's commercial customers are expected to begin shipping in late June


( S ( NP-SBJ ( JJS Most ) ( NNS analysts ) ) ( VP ( VBP do ) ( RB n't ) ( VP ( VB expect ) ( S ( NP-SBJ-2 ( DT the ) ( JJ new ) ( NNS mainframes ) ) ( VP ( TO to ) ( VP ( VB begin ) ( S ( VP ( VBG contributing ) ( ADVP-MNR ( RB significantly ) ) ( PP-CLR ( TO to ) ( NP ( NN revenue ) ) ) ) ) ( PP-TMP ( IN before ) ( NP ( NP ( DT the ) ( JJ fiscal ) ( JJ first ) ( NN quarter ) ) ( SBAR ( WHNP-1 ( WDT which ) ) ( S ( VP ( VBZ begins ) ( NP-TMP ( JJ next ) ( NNP July ) ( CD 1 ) ) ) ) ) ) ) ) ) ) ) ) )

Most analysts do n't expect the new mainframes to begin contributing significantly to revenue before the fiscal first quarter which begins next July 1


( S ( NP-SBJ-1 ( NP ( NNP Digital ) ( POS 's ) ) ( JJ new ) ( NN line ) ) ( VP ( VBZ has ) ( VP ( VBN been ) ( NP-TMP-PRD ( DT a ) ( JJ long ) ( NN time ) ) ( S-CLR ( VP ( VBG coming ) ) ) ) ) )

Digital 's new line has been a long time coming


( S ( NP-SBJ-1 ( DT The ) ( NN company ) ) ( VP ( VBZ has ) ( VP ( VP ( ADVP-TMP ( RB long ) ) ( VBN struggled ) ( S ( VP ( TO to ) ( VP ( VB deliver ) ( NP ( DT a ) ( JJ strong ) ( JJ mainframe-class ) ( NN product ) ) ) ) ) ) ( CC and ) ( VP ( VBD made ) ( NP ( NP ( DT a ) ( JJ costly ) ( NN decision ) ) ( PP-TMP ( IN in ) ( NP ( CD 1988 ) ) ) ( S-2 ( VP ( TO to ) ( VP ( VB halt ) ( NP ( NP ( NN development ) ) ( PP ( IN of ) ( NP ( NP ( DT an ) ( JJ interim ) ( NN product ) ) ( VP ( VBN meant ) ( S ( VP ( TO to ) ( VP ( VB stem ) ( NP ( NP ( DT the ) ( NN revenue ) ( NNS losses ) ) ( PP-LOC ( IN at ) ( NP ( DT the ) ( JJ high ) ( NN end ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

The company has long struggled to deliver a strong mainframe-class product and made a costly decision in 1988 to halt development of an interim product meant to stem the revenue losses at the high end


( S ( S-TPC-1 ( NP-SBJ ( NP ( NNP Digital ) ( POS 's ) ) ( NN failure ) ( S ( VP ( TO to ) ( VP ( VB deliver ) ( NP ( DT a ) ( JJ true ) ( JJ mainframe-class ) ( NN machine ) ) ( PP-TMP ( IN before ) ( NP ( RB now ) ) ) ) ) ) ) ( VP ( MD may ) ( VP ( VB have ) ( VP ( VBN cost ) ( NP ( DT the ) ( NN company ) ) ( NP ( NP ( QP ( RB as ) ( RB much ) ( IN as ) ( CD 1 ) ( CD billion ) ) ) ( PP ( IN in ) ( NP ( NN revenue ) ) ) ) ( PP-TMP ( IN in ) ( NP ( JJ fiscal ) ( CD 1989 ) ) ) ) ) ) ) ( NP-SBJ ( NNP Mr. ) ( NNP Willman ) ) ( VP ( VBZ says ) ) )

Digital 's failure to deliver a true mainframe-class machine before now may have cost the company as much as 1 billion in revenue in fiscal 1989 Mr. Willman says


( S ( NP-SBJ ( NNP IBM ) ) ( VP ( MD will ) ( VP ( VB face ) ( NP ( ADJP ( RB still ) ( JJR more ) ) ( NN competition ) ) ( PP-TMP ( IN in ) ( NP ( VBG coming ) ( NNS months ) ) ) ) ) )

IBM will face still more competition in coming months


( S ( NP-SBJ ( NP ( NNP Amdahl ) ( NNP Corp. ) ) ( VP ( VBN backed ) ( PP ( IN by ) ( NP-LGS ( NP ( NNP Japan ) ( POS 's ) ) ( NNP Fujitsu ) ( NNP Ltd. ) ) ) ) ) ( VP ( VBZ has ) ( NP ( NP ( DT a ) ( VBG growing ) ( NN share ) ) ( PP ( IN of ) ( NP ( DT the ) ( NN market ) ) ) ) ( PP ( IN with ) ( NP ( PRP$ its ) ( JJ low-priced ) ( JJ IBM-compatible ) ( NNS machines ) ) ) ) )

Amdahl Corp. backed by Japan 's Fujitsu Ltd. has a growing share of the market with its low-priced IBM-compatible machines


( S ( CC And ) ( NP-SBJ-1 ( NP ( NNP National ) ( NNP Advanced ) ( NNPS Systems ) ) ( NP ( NP ( DT a ) ( JJ joint ) ( NN venture ) ) ( PP ( IN of ) ( NP ( NP ( NP ( NNP Japan ) ( POS 's ) ) ( NNP Hitachi ) ( NNP Ltd. ) ) ( CC and ) ( NP ( NP ( NNP General ) ( NNPS Motors ) ( NNP Corp. ) ( POS 's ) ) ( NNP Electronic ) ( NNPS Data ) ( NNP Systems ) ) ) ) ) ) ( VP ( VBZ is ) ( VP ( VBN expected ) ( S ( VP ( TO to ) ( VP ( VB unveil ) ( NP ( NP ( DT a ) ( NN line ) ) ( PP ( IN of ) ( NP ( JJ powerful ) ( JJ IBM-compatible ) ( NNS mainframes ) ) ) ) ( NP-TMP ( RB later ) ( DT this ) ( NN year ) ) ) ) ) ) ) )

And National Advanced Systems a joint venture of Japan 's Hitachi Ltd. and General Motors Corp. 's Electronic Data Systems is expected to unveil a line of powerful IBM-compatible mainframes later this year


NOTE


( S ( S ( NP-SBJ-1 ( NNP NAS ) ) ( VP ( VBZ is ) ( NP-PRD-2 ( NNP National ) ( NNP Advanced ) ( NNPS Systems ) ) ) ) ( S ( NP-SBJ=1 ( NNP CDC ) ) ( NP-PRD=2 ( NP ( NNP Control ) ( NNPS Data ) ( NNP Corp. ) ) ( X ( NNP Bull ) ( NNP NH ) ( NNP Information ) ( NNPS Systems ) ( NNP Inc ) ) ) ) )

NAS is National Advanced Systems CDC Control Data Corp. Bull NH Information Systems Inc


( FRAG ( NP ( NN Source ) ) ( NP ( NNP International ) ( NNP Data ) ( NNP Corp ) ) )

Source International Data Corp


( VP ( VBN Compiled ) ( PP ( IN by ) ( NP-LGS ( NNPS Publishers ) ( NNP Weekly ) ) ) ( PP-CLR ( IN from ) ( NP ( NP ( NNS data ) ) ( PP ( IN from ) ( NP ( NP ( NP ( JJ large-city ) ( NNS bookstores ) ) ( NP ( NN bookstore ) ( NNS chains ) ) ( CC and ) ( NP ( JJ local ) ( NN bestseller ) ( NNS lists ) ) ) ( PP-LOC ( IN across ) ( NP ( DT the ) ( NNP U.S. ) ) ) ) ) ) ) )

Compiled by Publishers Weekly from data from large-city bookstores bookstore chains and local bestseller lists across the U.S.


( NP ( NP ( NN Copyright ) ) ( NP-TMP ( CD 1989 ) ) ( PP ( IN by ) ( NP ( NNP Reed ) ( NNP Publishing ) ( NNP USA ) ) ) )

Copyright 1989 by Reed Publishing USA


( S ( S ( ADVP-TMP ( NP ( CD Four ) ( NNS years ) ) ( RB ago ) ) ( NP-SBJ-1 ( NNP Pittsburgh ) ) ( VP ( VBD was ) ( VP ( VBN designated ) ( S ( NP-PRD ( DT the ) ( JJS most-livable ) ( NNP U.S. ) ( NN city ) ) ) ( PP ( IN by ) ( NP-LGS ( NP ( NNP Rand ) ( NNP McNally ) ( POS 's ) ) ( NNPS Places ) ( NNP Rated ) ( NNP Almanac ) ) ) ) ) ) ( CC and ) ( S ( NP-SBJ-2 ( DT the ) ( NN honor ) ) ( VP ( VBD did ) ( NP ( NNS wonders ) ) ( S-CLR ( VP ( TO to ) ( VP ( VB improve ) ( NP ( NP ( NNP Pittsburgh ) ( POS 's ) ) ( JJ soot-stained ) ( NN image ) ) ) ) ) ) ) )

Four years ago Pittsburgh was designated the most-livable U.S. city by Rand McNally 's Places Rated Almanac and the honor did wonders to improve Pittsburgh 's soot-stained image


( S ( S-TPC-2 ( NP-SBJ ( NNS People ) ) ( VP ( VBD asked ) ( SQ ( VBZ is ) ( NP-SBJ ( PRP it ) ) ( ADVP ( RB really ) ) ( ADJP-PRD ( JJ true ) ) ) ) ) ( VP ( VBZ says ) ) ( NP-SBJ ( NP ( NNP Maury ) ( NNP Kelley ) ) ( NP ( NP ( NN vice ) ( NN president ) ) ( NP ( NN marketing ) ( NNS services ) ) ( PP ( IN for ) ( NP ( NP ( NNP Beecham ) ( NNPS Products ) ( NNP USA ) ) ( NP ( NP ( DT a ) ( NN maker ) ) ( PP ( IN of ) ( NP ( NP ( NN health ) ( CC and ) ( NN personal-care ) ( NNS products ) ) ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( VP ( VBD used ) ( NP ( DT the ) ( NN ranking ) ) ( PP-LOC ( IN in ) ( NP ( PRP$ its ) ( NN recruiting ) ( NN brochure ) ) ) ) ) ) ) ) ) ) ) ) ) )

People asked is it really true says Maury Kelley vice president marketing services for Beecham Products USA a maker of health and personal-care products that used the ranking in its recruiting brochure


( S ( NP-SBJ-1 ( NP ( NNP Yuba ) ( NNP City ) ) ( NP ( NNP Calif. ) ) ) ( ADVP-TMP ( RB meanwhile ) ) ( VP ( VBD ranked ) ( S-CLR ( ADJP-PRD ( JJ dead ) ( NN last ) ) ) ( PP-LOC ( IN among ) ( NP ( CD 329 ) ( NN metro ) ( NNS areas ) ) ) ) )

Yuba City Calif. meanwhile ranked dead last among 329 metro areas


( S ( S-ADV ( ADJP-PRD ( JJ Unamused ) ) ) ( NP-SBJ-2 ( NNS residents ) ) ( VP ( VP ( VBD burned ) ( NP ( NNP Rand ) ( NNP McNally ) ( NNS books ) ) ) ( CC and ) ( VP ( VBD wore ) ( NP ( NP ( NNS T-shirts ) ) ( SBAR ( WHNP-1 ( IN that ) ) ( S ( VP ( VBD said ) ( S ( VP ( VB Kiss ) ( NP ( PRP$ my ) ( NN Atlas ) ) ) ) ) ) ) ) ) ) )

Unamused residents burned Rand McNally books and wore T-shirts that said Kiss my Atlas


( S ( NP-SBJ ( DT The ) ( NN almanac ) ) ( VP ( MD will ) ( VP ( VB be ) ( VP ( VBG making ) ( NP ( JJ new ) ( NNS friends ) ( CC and ) ( NNS enemies ) ) ( PP-TMP ( IN on ) ( NP ( NP ( NNP Oct. ) ( CD 27 ) ) ( SBAR ( WHADVP-2 ( WRB when ) ) ( S ( NP-SBJ-1 ( DT an ) ( VBN updated ) ( NN version ) ) ( VP ( MD will ) ( VP ( VB be ) ( VP ( VBN released ) ) ) ) ) ) ) ) ) ) ) )

The almanac will be making new friends and enemies on Oct. 27 when an updated version will be released


( S ( NP-SBJ-2 ( NNP Pittsburgh ) ) ( VP ( VP ( VBZ figures ) ( SBAR ( S ( NP-SBJ-1 ( PRP it ) ) ( VP ( MD will ) ( VP ( VB be ) ( VP ( VBN dethroned ) ) ) ) ) ) ) ( CC but ) ( VP ( NNS plans ) ( S ( VP ( TO to ) ( VP ( VB accept ) ( NP ( PRP$ its ) ( NN ouster ) ) ( ADVP-MNR ( RB graciously ) ) ) ) ) ) ) )

Pittsburgh figures it will be dethroned but plans to accept its ouster graciously


( S ( NP-SBJ ( NP ( NP ( DT The ) ( NN city ) ( POS 's ) ) ( NNP Office ) ) ( PP ( IN of ) ( NP ( NNP Promotion ) ) ) ) ( VP ( VBZ plans ) ( NP ( NP ( NNS media ) ( NNS events ) ) ( SBAR ( S ( VP ( TO to ) ( VP ( VB welcome ) ( NP ( PRP$ its ) ( NN successor ) ) ) ) ) ) ) ) )

The city 's Office of Promotion plans media events to welcome its successor


( SINV ( S-TPC-1 ( NP-SBJ ( PRP We ) ) ( VP ( VBP 're ) ( VP ( VBG encouraging ) ( NP ( DT a ) ( JJ graceful ) ( NN transition ) ) ) ) ) ( VP ( VBZ says ) ) ( NP-SBJ ( NP ( NNP Mary ) ( NNP Kay ) ( NNP Poppenberg ) ) ( NP ( NP ( DT the ) ( NN organization ) ( POS 's ) ) ( NN president ) ) ) )

We 're encouraging a graceful transition says Mary Kay Poppenberg the organization 's president


( S ( NP-SBJ ( PRP$ Our ) ( NN attitude ) ) ( VP ( VBZ is ) ( SBAR-PRD ( DT that ) ( S ( NP-SBJ ( DT the ) ( NN ranking ) ) ( VP ( VBZ is ) ( PP-PRD ( IN like ) ( NP ( NNP Miss ) ( NNP America ) ) ) ) ) ) ) )

Our attitude is that the ranking is like Miss America


( S ( SBAR-ADV ( RB Once ) ( S ( NP-SBJ ( PRP you ) ) ( VP ( VBP 're ) ( NP-PRD ( NNP Miss ) ( NNP America ) ) ) ) ) ( NP-SBJ ( PRP you ) ) ( VP ( VBP 're ) ( ADVP-TMP ( RB always ) ) ( NP-PRD ( NNP Miss ) ( NNP America ) ) ) )

Once you 're Miss America you 're always Miss America


( S ( VP ( VB Tell ) ( NP ( DT that ) ) ( PP-DTV ( TO to ) ( NP ( NP ( NNP Atlanta ) ) ( SBAR ( WHNP-1 ( WDT which ) ) ( S ( NP-SBJ ( NNP Pittsburgh ) ) ( VP ( VBD replaced ) ( PP-CLR ( IN as ) ( NP ( DT the ) ( JJS most-livable ) ( NN city ) ) ) ( PP-TMP ( IN in ) ( NP ( CD 1985 ) ) ) ) ) ) ) ) ) )

Tell that to Atlanta which Pittsburgh replaced as the most-livable city in 1985


( S ( NP-SBJ ( JJ Many ) ( NNPS Atlantans ) ) ( VP ( VBD thought ) ( SBAR ( S ( NP-SBJ ( NNP Pittsburgh ) ) ( VP ( VBD was ) ( NP-PRD ( DT an ) ( JJ unworthy ) ( NN heir ) ) ) ) ) ) )

Many Atlantans thought Pittsburgh was an unworthy heir


( S ( NP-SBJ ( NP ( DT A ) ( NN columnist ) ) ( PP ( IN in ) ( NP-LOC ( DT the ) ( NNP Atlanta ) ( NNP Journal ) ( CC and ) ( NNP Constitution ) ) ) ) ( VP ( VBD wrote ) ( SBARQ ( WHNP-1 ( WP Who ) ) ( SQ ( VP ( VBD did ) ( NP ( DT the ) ( NN research ) ) ( PP ( IN for ) ( NP ( DT this ) ( NN report ) ) ) ) ) ) ) )

A columnist in the Atlanta Journal and Constitution wrote Who did the research for this report


( FRAG ( NP ( NP ( CD Two ) ( NNS guys ) ) ( PP ( IN from ) ( NP ( NP ( NNP Gary ) ) ( NP ( NNP Ind. ) ) ) ) ) )

Two guys from Gary Ind.


Not so


( S ( NP-SBJ ( NNS Co-authors ) ( NNP David ) ( NNP Savageau ) ( CC and ) ( NNP Richard ) ( NNP Boyer ) ) ( VP ( VBP live ) ( PP-LOC-CLR ( IN in ) ( NP ( NP ( NP ( NNP Gloucester ) ) ( NP ( NNP Mass. ) ) ) ( CC and ) ( NP ( NP ( NNP Asheville ) ) ( NP ( NNP N.C. ) ) ) ( ADVP ( RB respectively ) ) ) ) ) )

Co-authors David Savageau and Richard Boyer live in Gloucester Mass. and Asheville N.C. respectively


( S-1 ( NP-SBJ ( NNP Atlanta ) ) ( PRN ( S ( NP-SBJ ( NNP Mr. ) ( NNP Savageau ) ) ( VP ( VBZ sniffs ) ) ) ) ( VP ( VBZ has ) ( NP ( NP ( JJ unrealistic ) ( NNS pretensions ) ) ( PP ( TO to ) ( NP ( JJ world-class ) ( NN status ) ) ) ) ) )

Atlanta Mr. Savageau sniffs has unrealistic pretensions to world-class status


( S ( NP-SBJ ( DT The ) ( JJ new ) ( NN edition ) ) ( VP ( VBZ lists ) ( NP ( DT the ) ( JJ top ) ( CD 10 ) ( JJ metropolitan ) ( NNS areas ) ) ( PP-CLR ( IN as ) ( NP ( NP ( NP ( NNP Anaheim-Santa ) ( NNP Ana ) ) ( NP ( NNP Calif. ) ) ) ( NP ( NNP Boston ) ) ( NP ( NP ( NNP Louisville ) ) ( NP ( NNP Ky. ) ) ) ( NP ( NP ( NNP Nassau-Suffolk ) ) ( NP ( NNP N.Y. ) ) ) ( NP ( NNP New ) ( NNP York ) ) ( NP ( NNP Pittsburgh ) ) ( NP ( NNP San ) ( NNP Diego ) ) ( NP ( NNP San ) ( NNP Francisco ) ) ( NP ( NN Seattle ) ) ( CC and ) ( NP ( NNP Washington ) ) ) ) ) )

The new edition lists the top 10 metropolitan areas as Anaheim-Santa Ana Calif. Boston Louisville Ky. Nassau-Suffolk N.Y. New York Pittsburgh San Diego San Francisco Seattle and Washington


( S ( NP-SBJ ( NNP Mr. ) ( NNP Savageau ) ) ( VP ( VBZ says ) ( SBAR ( S ( FRAG-ADV ( NP ( NN earthquake ) ) ( CC or ) ( RB not ) ) ( NP-SBJ ( NNP San ) ( NNP Francisco ) ) ( VP ( VBZ makes ) ( NP ( DT the ) ( NN list ) ) ) ) ) ) )

Mr. Savageau says earthquake or not San Francisco makes the list


( S ( S ( CC But ) ( NP-SBJ ( NN attention ) ) ( ADVP ( RB also ) ) ( VP ( VBZ rivets ) ( PP-CLR ( IN on ) ( SBAR-NOM ( WHNP-1 ( WP who ) ) ( S ( VP ( VBZ finishes ) ( ADVP-CLR ( RB last ) ) ) ) ) ) ) ) ( CC and ) ( S ( NP-SBJ ( NP ( NP ( NNP Pine ) ( NNP Bluff ) ) ( NP ( NNP Ark. ) ) ) ( PRN ( SBAR ( WHNP-2 ( WDT which ) ) ( S ( VP ( VP ( VBD finished ) ( ADVP-CLR-3 ( RB third ) ( TO to ) ( RB last ) ) ( PP-TMP-4 ( IN in ) ( NP ( CD 1981 ) ) ) ) ( CC and ) ( VP ( ADVP-CLR=3 ( RB second ) ( TO to ) ( RB last ) ) ( PP-TMP=4 ( IN in ) ( NP ( CD 1985 ) ) ) ) ) ) ) ) ) ( VP ( VBZ is ) ( ADVP ( RB certainly ) ) ( PP-LOC-PRD ( IN in ) ( NP ( DT the ) ( NN running ) ) ) ) ) )

But attention also rivets on who finishes last and Pine Bluff Ark. which finished third to last in 1981 and second to last in 1985 is certainly in the running


( S ( S-TPC-4 ( NP-SBJ-1 ( PRP I ) ) ( VP ( VBP hate ) ( S ( VP ( TO to ) ( VP ( VB dignify ) ( NP ( DT the ) ( NN publication ) ) ( PP-MNR ( IN by ) ( S-NOM ( VP ( VBG commenting ) ( PP-CLR ( IN on ) ( NP ( DT the ) ( JJ obscene ) ( NN rating ) ) ) ) ) ) ) ) ) ) ) ( NP-SBJ-2 ( NNP Mayor ) ( NNP Carolyn ) ( NNP Robinson ) ) ( VP ( VBZ says ) ( S-ADV ( VP ( VBG adding ) ( SBAR ( IN that ) ( S ( NP-SBJ ( NNS cities ) ) ( VP ( VBP have ) ( NP ( NP ( DT no ) ( NN way ) ) ( SBAR ( S ( VP ( TO to ) ( VP ( VB rebut ) ( NP ( DT the ) ( NN book ) ) ) ) ) ) ) ) ) ) ) ) ) )

I hate to dignify the publication by commenting on the obscene rating Mayor Carolyn Robinson says adding that cities have no way to rebut the book


( S ( NP-SBJ ( PRP It ) ) ( VP ( VBZ 's ) ( PP-PRD ( IN like ) ( S-NOM ( VP ( VBG fighting ) ( NP ( PRP$ your ) ( NN way ) ) ( ADVP-DIR ( IN out ) ( PP ( IN of ) ( NP ( DT a ) ( NN fog ) ) ) ) ) ) ) ) )

It 's like fighting your way out of a fog


( S ( NP-SBJ ( PRP You ) ) ( VP ( VBP do ) ( RB n't ) ( VP ( VB know ) ( SBAR ( WHADVP-1 ( WDT which ) ( NN way ) ) ( S ( VP ( TO to ) ( VP ( VB punch ) ) ) ) ) ) ) )

You do n't know which way to punch


( S ( NP-SBJ ( DT The ) ( NN government ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( NP ( NP ( CD 13.1 ) ( NN % ) ) ( PP ( IN of ) ( NP ( NNPS Americans ) ) ) ) ( CC or ) ( NP ( QP ( CD 31.9 ) ( CD million ) ) ( NNS people ) ) ) ( VP ( VBD were ) ( VP ( VBG living ) ( PP-MNR ( IN in ) ( NP ( NN poverty ) ) ) ( PP-TMP ( IN in ) ( NP ( CD 1988 ) ) ) ) ) ) ) ) )

The government said 13.1 % of Americans or 31.9 million people were living in poverty in 1988


( S ( SBAR-ADV ( IN While ) ( S ( NP-SBJ ( NP ( JJ last ) ( NN year ) ( POS 's ) ) ( NN figure ) ) ( VP ( VP ( VBD was ) ( ADVP-PRD ( RB down ) ( PP ( IN from ) ( NP ( CD 13.4 ) ( NN % ) ) ( PP-TMP ( IN in ) ( NP ( CD 1987 ) ) ) ) ) ) ( CC and ) ( VP ( VBD marked ) ( NP ( NP ( DT the ) ( ADJP ( JJ fifth ) ( JJ consecutive ) ) ( JJ annual ) ( NN decline ) ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( NN poverty ) ( NN rate ) ) ) ) ) ) ) ) ( NP-SBJ ( DT the ) ( NNP Census ) ( NNP Bureau ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( DT the ) ( CD 1988 ) ( NN drop ) ) ( VP ( VBD was ) ( RB n't ) ( ADJP-PRD ( RB statistically ) ( JJ significant ) ) ) ) ) ) )

While last year 's figure was down from 13.4 % in 1987 and marked the fifth consecutive annual decline in the poverty rate the Census Bureau said the 1988 drop was n't statistically significant


( S ( NP-SBJ ( NP ( DT The ) ( NN bureau ) ( POS 's ) ) ( NN report ) ) ( ADVP ( RB also ) ) ( VP ( VBD showed ) ( SBAR ( IN that ) ( S ( SBAR-ADV ( IN while ) ( S ( NP-SBJ ( NP ( DT some ) ( NNS measures ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( NN nation ) ( POS 's ) ) ( JJ economic ) ( NN well-being ) ) ) ) ( VP ( VBN improved ) ( ADVP-MNR ( RB modestly ) ) ( PP-TMP ( IN in ) ( NP ( CD 1988 ) ) ) ) ) ) ( NP-SBJ-1 ( NP ( DT the ) ( NNS fruits ) ) ( PP ( IN of ) ( NP ( NN prosperity ) ) ) ) ( VP ( VBD were ) ( VP ( VBN shared ) ( ADVP-MNR ( ADVP ( RBR less ) ( RB equitably ) ) ( PP ( IN than ) ( NP ( NP ( DT the ) ( NN year ) ) ( ADVP-TMP ( RB before ) ) ) ) ) ) ) ) ) ) )

The bureau 's report also showed that while some measures of the nation 's economic well-being improved modestly in 1988 the fruits of prosperity were shared less equitably than the year before


( S ( S-ADV ( VP ( VBG Summarizing ) ( NP ( NP ( NNS data ) ) ( VP ( VBN derived ) ( PP-CLR ( IN from ) ( NP ( NP ( DT a ) ( NNP March ) ( CD 1989 ) ( NN survey ) ) ( PP ( IN of ) ( NP ( CD 58,000 ) ( NNS households ) ) ) ) ) ) ) ) ) ( NP-SBJ-1 ( NP ( NNP William ) ( NNP Butz ) ) ( NP ( NP ( JJ associate ) ( NN director ) ) ( PP ( IN of ) ( NP ( DT the ) ( NNP Census ) ( NNP Bureau ) ) ) ) ) ( VP ( VBD said ) ( SBAR ( IN that ) ( S ( NP-SBJ ( JJS most ) ( NNS groups ) ) ( VP ( CC either ) ( VP ( VBD stayed ) ( NP-PRD ( DT the ) ( JJ same ) ) ) ( CC or ) ( VP ( VBD improved ) ) ) ) ) ) )

Summarizing data derived from a March 1989 survey of 58,000 households William Butz associate director of the Census Bureau said that most groups either stayed the same or improved


( S-1 ( CC But ) ( PRN ( S ( NP-SBJ ( PRP he ) ) ( VP ( VBD added ) ) ) ) ( PP-TMP ( IN Since ) ( NP ( DT the ) ( JJ late ) ( NNS 1960s ) ) ) ( NP-SBJ ( NP ( DT the ) ( NN distribution ) ) ( PP ( IN of ) ( NP ( NN income ) ) ) ) ( VP ( VBZ has ) ( VP ( VBN been ) ( ADVP-MNR ( RB slowly ) ) ( VP ( VBG getting ) ( ADJP-PRD ( RBR less ) ( JJ equal ) ) ) ) ) )

But he added Since the late 1960s the distribution of income has been slowly getting less equal


( S ( NP-SBJ ( EX There ) ) ( VP ( VBD was ) ( NP-PRD ( NP ( DT no ) ( NN reversal ) ) ( PRN ( PP ( IN of ) ( NP ( DT that ) ( NN trend ) ) ) ) ) ( PP-TMP ( IN between ) ( NP ( CD 1987 ) ( CC and ) ( CD 1988 ) ) ) ) )

There was no reversal of that trend between 1987 and 1988


( S ( NP-SBJ-1 ( NP ( ADJP ( IN Per ) ( NN capita ) ) ( NN income ) ) ( NP ( NP ( DT a ) ( ADJP ( RB widely ) ( JJ used ) ) ( NN measure ) ) ( PP ( IN of ) ( NP ( NP ( DT a ) ( NN nation ) ( POS 's ) ) ( JJ economic ) ( NN health ) ) ) ) ) ( VP ( VBD hit ) ( NP ( DT a ) ( NN record ) ) ( PP-TMP ( IN in ) ( NP ( CD 1988 ) ) ) ( S-ADV ( VP ( VBG rising ) ( NP-EXT ( CD 1.7 ) ( NN % ) ) ( PP-TMP ( IN after ) ( NP ( NN inflation ) ( NN adjustment ) ) ) ( PP-DIR ( TO to ) ( NP ( QP ( CD 13,120 ) ) ) ) ) ) ) )

Per capita income a widely used measure of a nation 's economic health hit a record in 1988 rising 1.7 % after inflation adjustment to 13,120


( S ( CC But ) ( NP-SBJ ( NP ( DT the ) ( JJ median ) ( NN income ) ) ( PP ( IN of ) ( NP ( JJ American ) ( NNS families ) ) ) ) ( VP ( VP ( VBD fell ) ( NP-EXT ( CD 0.2 ) ( NN % ) ) ) ( NP-ADV ( NP ( DT the ) ( JJ first ) ( NN time ) ) ( SBAR ( S ( NP-SBJ-1 ( PRP it ) ) ( VP ( VBZ has ) ( VP ( VBN failed ) ( S ( VP ( TO to ) ( VP ( VB rise ) ) ) ) ) ) ) ) ( PP-TMP ( IN since ) ( NP ( CD 1982 ) ) ) ) ) )

But the median income of American families fell 0.2 % the first time it has failed to rise since 1982


( S ( NP-SBJ ( NNP Mr. ) ( NNP Butz ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( NP ( DT the ) ( NN divergence ) ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( CD two ) ( NNS measures ) ) ) ) ( VP ( VBZ reflects ) ( NP ( NP ( NP ( NNS changes ) ) ( PP-LOC ( IN in ) ( NP ( NN family ) ( NN size ) ( CC and ) ( NN structure ) ) ) ( PP ( VBG including ) ( NP ( NP ( DT the ) ( VBG rising ) ( NN number ) ) ( PP ( IN of ) ( NP ( JJ female-headed ) ( NNS families ) ) ) ) ) ) ( CC and ) ( NP ( NP ( DT a ) ( JJ sharp ) ( NN increase ) ) ( PP-LOC ( IN in ) ( NP ( NN income ) ) ) ( VP ( VBN reported ) ( PP ( IN by ) ( NP-LGS ( NP ( NNPS Americans ) ) ( SBAR ( WHNP-1 ( WP who ) ) ( S ( VP ( VBP are ) ( RB n't ) ( VP ( VBG living ) ( PP-LOC-CLR ( IN in ) ( NP ( NNS families ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Mr. Butz said the divergence in the two measures reflects changes in family size and structure including the rising number of female-headed families and a sharp increase in income reported by Americans who are n't living in families


( S ( PP-PRP ( IN As ) ( NP ( NP ( DT a ) ( NN result ) ) ( PP ( IN of ) ( NP ( NP ( JJ last ) ( NN year ) ( POS 's ) ) ( NN decline ) ) ) ) ) ( NP-SBJ ( NP ( NP ( DT the ) ( NN government ) ( POS 's ) ) ( NN estimate ) ) ( PP ( IN for ) ( NP ( NP ( DT the ) ( NN number ) ) ( PP ( IN of ) ( NP ( NP ( NNS people ) ) ( VP ( VBG living ) ( PP-MNR ( IN below ) ( NP ( DT the ) ( NN poverty ) ( NN line ) ) ) ) ) ) ) ) ) ( VP ( VBN declined ) ( PP-EXT ( IN by ) ( NP ( QP ( IN about ) ( CD 500,000 ) ) ) ) ) )

As a result of last year 's decline the government 's estimate for the number of people living below the poverty line declined by about 500,000


( S ( NP-SBJ ( NP ( DT The ) ( NN poverty ) ( NN threshold ) ) ( VP ( VBN defined ) ( PP-CLR ( IN as ) ( NP ( NP ( NP ( CD three ) ( NNS times ) ) ( NN food ) ( NNS expenses ) ) ( SBAR ( IN as ) ( S ( VP ( VBN calculated ) ( PP ( IN by ) ( NP-LGS ( DT the ) ( NNP Agricultural ) ( NNP Department ) ) ) ) ) ) ) ) ) ) ( NP-TMP ( JJ last ) ( NN year ) ) ( VP ( VBD was ) ( NP-PRD ( CD 12,092 ) ) ( PP ( IN for ) ( NP ( NP ( DT a ) ( NN family ) ) ( PP ( IN of ) ( NP ( CD four ) ) ) ) ) ) )

The poverty threshold defined as three times food expenses as calculated by the Agricultural Department last year was 12,092 for a family of four


( S ( S ( NP-SBJ-1 ( DT The ) ( NNP Census ) ( NNP Bureau ) ) ( VP ( VBZ counts ) ( NP ( DT all ) ( NN cash ) ( NN income ) ) ( PP ( IN in ) ( S-NOM ( VP ( VBG determining ) ( SBAR ( IN whether ) ( S ( NP-SBJ ( NNS families ) ) ( VP ( VBP are ) ( PP-LOC-PRD ( IN below ) ( NP ( DT the ) ( NN line ) ) ) ) ) ) ) ) ) ) ) ( CC but ) ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBZ does ) ( RB n't ) ( VP ( VB consider ) ( NP ( NP ( JJ other ) ( NN government ) ( NNS benefits ) ) ( PP ( JJ such ) ( IN as ) ( NP ( NNP Medicare ) ) ) ) ) ) ) )

The Census Bureau counts all cash income in determining whether families are below the line but it does n't consider other government benefits such as Medicare


( S ( S ( NP-ADV ( NP ( NNS Thanks ) ) ( PP ( ADVP ( RB largely ) ) ( TO to ) ( NP ( NP ( DT the ) ( JJ continued ) ( NN growth ) ) ( PP ( IN of ) ( NP ( DT the ) ( NNP U.S. ) ( NN economy ) ) ) ) ) ) ( NP-SBJ ( DT the ) ( NN poverty ) ( NN rate ) ) ( VP ( VBZ is ) ( ADVP-TMP ( RB now ) ) ( ADJP-PRD ( ADJP ( RB substantially ) ( JJR lower ) ) ( PP ( IN than ) ( NP ( NP ( DT the ) ( CD 1983 ) ( NN peak ) ) ( PP ( IN of ) ( NP ( CD 15.3 ) ( NN % ) ) ) ) ) ) ) ) ( CC but ) ( S ( NP-SBJ ( DT the ) ( NNS improvements ) ) ( VP ( VBP have ) ( VP ( VBN been ) ( ADJP-PRD ( JJ modest ) ) ( PP-TMP ( IN in ) ( NP ( NP ( DT the ) ( JJ past ) ( NN couple ) ) ( PP ( IN of ) ( NP ( NNS years ) ) ) ) ) ) ) ) )

Thanks largely to the continued growth of the U.S. economy the poverty rate is now substantially lower than the 1983 peak of 15.3 % but the improvements have been modest in the past couple of years


( S ( NP-SBJ ( NN Poverty ) ) ( VP ( VBZ remains ) ( ADJP-PRD ( ADJP ( ADVP ( RB far ) ( RBR more ) ) ( JJ widespread ) ) ( PP-LOC ( IN among ) ( NP ( NNS blacks ) ) ) ( PP ( IN than ) ( NP ( JJ other ) ( NNPS Americans ) ) ) ) ) )

Poverty remains far more widespread among blacks than other Americans


( S ( PP-TMP ( IN In ) ( NP ( CD 1988 ) ) ) ( NP-SBJ ( NP ( CD 31.6 ) ( NN % ) ) ( PP ( IN of ) ( NP ( NNS blacks ) ) ) ) ( VP ( VBN lived ) ( PP-MNR ( IN in ) ( NP ( NN poverty ) ) ) ( PP ( VBN compared ) ( PP ( IN with ) ( NP ( NP ( NP ( CD 10.1 ) ( NN % ) ) ( PP ( IN for ) ( NP ( NNS whites ) ) ) ) ( CC and ) ( NP ( NP ( CD 26.8 ) ( NN % ) ) ( PP ( IN for ) ( NP ( NNPS Hispanics ) ) ) ) ) ) ) ) )

In 1988 31.6 % of blacks lived in poverty compared with 10.1 % for whites and 26.8 % for Hispanics


( S ( CC But ) ( NP-SBJ ( NP ( NNS two-thirds ) ) ( PP ( IN of ) ( NP ( DT all ) ( JJ poor ) ( NNPS Americans ) ) ) ) ( VP ( VBD were ) ( ADJP-PRD ( JJ white ) ) ) )

But two-thirds of all poor Americans were white


( S ( S-TPC-2 ( NP-SBJ-1 ( NP ( QP ( JJR More ) ( IN than ) ( DT half ) ) ) ( PP ( IN of ) ( NP ( JJ poor ) ( NNS families ) ) ) ) ( VP ( VBD were ) ( VP ( VBN headed ) ( PP ( IN by ) ( NP-LGS ( NP ( NNS women ) ) ( VP ( VBG living ) ( PP ( IN without ) ( NP ( NNS men ) ) ) ) ) ) ) ) ) ( NP-SBJ ( DT the ) ( NN bureau ) ) ( VP ( VBD said ) ) )

More than half of poor families were headed by women living without men the bureau said


( S ( NP-SBJ-1 ( NP ( QP ( JJR More ) ( IN than ) ( NNS three-fourths ) ) ) ( PP ( IN of ) ( NP ( JJ poor ) ( JJ black ) ( NNS families ) ) ) ) ( VP ( VBD were ) ( VP ( VBN headed ) ( PP ( IN by ) ( NP-LGS ( NNS women ) ) ) ) ) )

More than three-fourths of poor black families were headed by women


( S ( NP-SBJ ( NP ( DT The ) ( NN poverty ) ( NN rate ) ) ( PP ( IN of ) ( NP ( NP ( NNS children ) ) ( ADJP ( NP ( QP ( IN under ) ( CD 18 ) ) ( NNS years ) ) ( JJ old ) ) ) ) ) ( VP ( VP ( VBD dropped ) ( NP-TMP ( JJ last ) ( NN year ) ) ( PP-DIR ( TO to ) ( NP ( CD 19.7 ) ( NN % ) ) ) ( PP-DIR ( IN from ) ( NP ( CD 20.5 ) ( NN % ) ) ( PP-TMP ( IN in ) ( NP ( CD 1987 ) ) ) ) ) ( CC but ) ( VP ( VBD remained ) ( ADJP-PRD ( ADJP ( RB far ) ( JJR higher ) ) ( PP ( IN than ) ( ADVP-TMP ( NP ( DT a ) ( NN decade ) ) ( RB ago ) ) ) ) ) ) )

The poverty rate of children under 18 years old dropped last year to 19.7 % from 20.5 % in 1987 but remained far higher than a decade ago


( S ( NP-SBJ ( NP ( NP ( DT The ) ( NN rate ) ) ( PP-LOC ( IN among ) ( NP ( DT the ) ( JJ elderly ) ) ) ) ( PRN ( NP ( NP ( CD 12 ) ( NN % ) ) ( PP-TMP ( IN in ) ( NP ( CD 1988 ) ) ) ) ) ) ( VP ( VBD was ) ( RB n't ) ( ADJP-PRD ( ADJP ( RB significantly ) ( JJR lower ) ) ( PP ( IN than ) ( NP-TMP ( NP ( DT the ) ( NN year ) ) ( ADVP-TMP ( RB before ) ) ) ) ) ) )

The rate among the elderly 12 % in 1988 was n't significantly lower than the year before


( S ( S-TPC-1 ( SBAR-ADV ( IN If ) ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBD were ) ( RB n't ) ( PP-PRD ( IN for ) ( NP ( NNP Social ) ( NNP Security ) ( NNS payments ) ) ) ) ) ) ( NP-SBJ ( QP ( JJR more ) ( IN than ) ( CD three ) ( NNS times ) ( IN as ) ( JJ many ) ) ( JJ elderly ) ) ( VP ( MD would ) ( VP ( VB be ) ( PP-LOC-PRD ( IN below ) ( NP ( DT the ) ( NN poverty ) ( NN line ) ) ) ) ) ) ( NP-SBJ ( NNP Mr. ) ( NNP Butz ) ) ( VP ( VBD said ) ) )

If it were n't for Social Security payments more than three times as many elderly would be below the poverty line Mr. Butz said


( S ( NP-SBJ ( DT The ) ( NNP Census ) ( NNP Bureau ) ) ( ADVP ( RB also ) ) ( VP ( VBD said ) ) )

The Census Bureau also said


( S ( NP-SBJ ( NP ( QP ( DT Some ) ( CD 17.2 ) ) ( NN % ) ) ( PP ( IN of ) ( NP ( NP ( DT all ) ( NN money ) ( NN income ) ) ( VP ( VBN received ) ( PP ( IN by ) ( NP-LGS ( NNS families ) ) ) ( PP-TMP ( IN in ) ( NP ( CD 1988 ) ) ) ) ) ) ) ( VP ( VBD went ) ( PP-DIR ( TO to ) ( NP ( NP ( DT the ) ( JJS wealthiest ) ( CD 5 ) ( NN % ) ) ( PP ( IN of ) ( NP ( DT all ) ( NNS families ) ) ) ( ADVP ( RB up ) ( PP ( IN from ) ( NP ( CD 16.9 ) ( NN % ) ) ( PP-TMP ( IN in ) ( NP ( CD 1987 ) ) ) ) ) ) ) ) )

Some 17.2 % of all money income received by families in 1988 went to the wealthiest 5 % of all families up from 16.9 % in 1987


( S ( NP-SBJ ( DT That ) ) ( VP ( VBZ is ) ( NP-PRD ( NP ( DT the ) ( JJS greatest ) ( NN share ) ) ( VP ( VBN reported ) ( PP ( IN for ) ( NP ( NP ( DT any ) ( NN year ) ) ( PP-TMP ( IN since ) ( NP ( CD 1950 ) ) ) ) ) ) ) ( SBAR-ADV ( IN although ) ( S ( NP-SBJ ( NP ( JJ changing ) ( NNS definitions ) ) ( PP-TMP ( IN over ) ( NP ( DT the ) ( NNS years ) ) ) ) ( VP ( VBP distort ) ( NP ( DT the ) ( NN comparison ) ) ) ) ) ) )

That is the greatest share reported for any year since 1950 although changing definitions over the years distort the comparison


( S ( NP-SBJ ( NP ( DT The ) ( JJ top ) ( NN fifth ) ) ( PP ( IN of ) ( NP ( DT all ) ( NNS families ) ) ) ) ( VP ( VBD got ) ( NP ( NP ( CD 44 ) ( NN % ) ) ( PP ( IN of ) ( NP ( DT the ) ( NN income ) ) ) ( ADVP ( RB up ) ( PP ( IN from ) ( NP ( NP ( CD 41.5 ) ( NN % ) ) ( ADVP-TMP ( NP ( DT a ) ( NN decade ) ) ( RB earlier ) ) ) ) ) ) ) )

The top fifth of all families got 44 % of the income up from 41.5 % a decade earlier


( S ( NP-SBJ ( NP ( DT The ) ( JJ bottom ) ( JJ fifth ) ) ( PP ( IN of ) ( NP ( DT all ) ( NNS families ) ) ) ) ( VP ( VBD got ) ( NP ( NP ( CD 4.6 ) ( NN % ) ) ( PP ( IN of ) ( NP ( DT the ) ( NN income ) ) ) ) ( ADVP ( RB down ) ( PP ( IN from ) ( NP ( CD 5.2 ) ( NN % ) ) ( ADVP-TMP ( NP ( DT a ) ( NN decade ) ) ( RB earlier ) ) ) ) ) )

The bottom fifth of all families got 4.6 % of the income down from 5.2 % a decade earlier


( S ( S-ADV ( VP ( VBG Confirming ) ( NP ( NP ( JJ other ) ( NN government ) ( NNS data ) ) ( VP ( VBG showing ) ( SBAR ( IN that ) ( S ( NP-SBJ ( NNS wages ) ) ( VP ( VBP are ) ( RB n't ) ( VP ( VBG keeping ) ( NP-CLR ( NN pace ) ) ( PP-CLR ( IN with ) ( NP ( NN inflation ) ) ) ) ) ) ) ) ) ) ) ( NP-SBJ ( NP ( NNS earnings ) ) ( PP ( IN of ) ( NP ( JJ year-round ) ( JJ full-time ) ( NN male ) ( NNS workers ) ) ) ) ( VP ( VP ( VBD fell ) ( NP-EXT ( CD 1.3 ) ( NN % ) ) ( PP-TMP ( IN in ) ( NP ( CD 1988 ) ) ) ( PP-TMP ( IN after ) ( S-NOM ( VP ( VBG adjusting ) ( PP-CLR ( IN for ) ( NP ( JJR higher ) ( NNS prices ) ) ) ) ) ) ) ( NP-ADV ( NP ( DT the ) ( JJ first ) ( JJ such ) ( NN drop ) ) ( PP-TMP ( IN since ) ( NP ( CD 1982 ) ) ) ) ) )

Confirming other government data showing that wages are n't keeping pace with inflation earnings of year-round full-time male workers fell 1.3 % in 1988 after adjusting for higher prices the first such drop since 1982


( S ( NP-SBJ ( NP ( NNS Earnings ) ) ( PP ( IN of ) ( NP ( JJ female ) ( NNS workers ) ) ) ) ( VP ( VBD were ) ( ADJP-PRD ( JJ unchanged ) ) ) )

Earnings of female workers were unchanged


( S ( NP-SBJ ( NP ( NNS Women ) ) ( VP ( VBG working ) ( ADVP-MNR ( RB full-time ) ) ) ) ( VP ( VBD earned ) ( NP ( NP ( NP ( CD 66 ) ( NNS cents ) ) ( PP ( IN for ) ( NP ( NP ( DT every ) ( NN dollar ) ) ( VP ( VBN earned ) ( PP ( IN by ) ( NP-LGS ( NNS men ) ) ) ) ) ) ) ( ADJP ( ADJP ( ADJP ( NP ( DT a ) ( NN penny ) ) ( RBR more ) ) ( PP ( IN than ) ( PP-TMP ( IN in ) ( NP ( CD 1987 ) ) ) ) ) ( CC and ) ( ADJP ( ADJP ( NP ( CD seven ) ( NNS cents ) ) ( RBR more ) ) ( PP ( IN than ) ( PP-TMP ( IN in ) ( NP ( CD 1978 ) ) ) ) ) ) ) ) )

Women working full-time earned 66 cents for every dollar earned by men a penny more than in 1987 and seven cents more than in 1978


( S ( NP-SBJ ( NP ( JJ Median ) ( NN household ) ( NN income ) ) ( PRN ( SBAR ( WHNP-1 ( WDT which ) ) ( S ( VP ( VBZ includes ) ( NP ( DT both ) ( NP ( NP ( DT those ) ) ( VP ( VBG living ) ( PP-CLR ( IN in ) ( NP ( NNS families ) ) ) ) ) ( CC and ) ( NP ( NP ( DT those ) ) ( SBAR ( WHNP-2 ( WP who ) ) ( S ( VP ( VBP are ) ( RB n't ) ) ) ) ) ) ) ) ) ) ) ( VP ( VBD rose ) ( NP-EXT ( CD 0.3 ) ( NN % ) ) ( NP-TMP ( JJ last ) ( NN year ) ) ( PP-DIR ( TO to ) ( NP ( CD 27,225 ) ) ) ( PP-TMP ( IN after ) ( NP ( NN inflation ) ) ) ) )

Median household income which includes both those living in families and those who are n't rose 0.3 % last year to 27,225 after inflation


( S ( NP-SBJ ( PRP It ) ) ( VP ( VP ( VBD rose ) ( ADVP-MNR ( RB sharply ) ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( NNP Northeast ) ( CC and ) ( NNP Midwest ) ) ) ) ( CC and ) ( VP ( VBD fell ) ( ADVP-EXT ( RB slightly ) ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( NNP South ) ( CC and ) ( NNP West ) ) ) ) ) )

It rose sharply in the Northeast and Midwest and fell slightly in the South and West


( S ( NP-SBJ ( JJ Median ) ( NN family ) ( NN income ) ) ( VP ( VBD was ) ( NP-PRD ( CD 32,191 ) ) ( ADVP ( RB down ) ( NP ( CD 0.2 ) ( NN % ) ) ) ) )

Median family income was 32,191 down 0.2 %


( S ( NP-SBJ-1 ( NP ( ADJP ( IN Per ) ( NN capita ) ) ( NN income ) ) ( PP ( IN of ) ( NP ( NNS blacks ) ) ) ) ( SBAR-ADV ( IN though ) ( S ( ADVP-TMP ( RB still ) ) ( NP-PRD ( NP ( ADJP ( QP ( RB only ) ( CD 60 ) ) ( NN % ) ) ( IN that ) ) ( PP ( IN of ) ( NP ( NNS whites ) ) ) ) ) ) ( VP ( VBD rose ) ( NP-EXT ( CD 3.9 ) ( NN % ) ) ( PP-TMP ( IN in ) ( NP ( CD 1988 ) ) ) ( SBAR-ADV ( IN while ) ( S ( NP-SBJ ( NP ( ADJP ( IN per ) ( NN capita ) ) ( NN income ) ) ( PP ( IN of ) ( NP ( NNS whites ) ) ) ) ( VP ( VBD rose ) ( NP-EXT ( QP ( RB only ) ( CD 1.5 ) ) ( NN % ) ) ) ) ) ) )

Per capita income of blacks though still only 60 % that of whites rose 3.9 % in 1988 while per capita income of whites rose only 1.5 %


( S ( PP-LOC ( IN Among ) ( NP ( JJ married ) ( NNS couples ) ) ) ( NP-SBJ ( NP ( DT the ) ( NN gap ) ) ( PP ( IN between ) ( NP ( NNS blacks ) ( CC and ) ( NNS whites ) ) ) ) ( VP ( VBN narrowed ) ( ADVP-MNR ( RB sharply ) ) ( SBAR-ADV ( IN as ) ( S ( NP-SBJ ( NP ( NN income ) ) ( PP ( IN of ) ( NP ( JJ black ) ( NNS families ) ) ) ) ( VP ( VBD shot ) ( ADVP-DIR ( RB up ) ) ( NP-EXT ( CD 6.8 ) ( NN % ) ) ( SBAR-ADV ( NN while ) ( S ( NP-SBJ ( NP ( NN income ) ) ( PP ( IN of ) ( NP ( NNS whites ) ) ) ) ( VP ( VBD did ) ( RB n't ) ( VP ( VB budge ) ) ) ) ) ) ) ) ) )

Among married couples the gap between blacks and whites narrowed sharply as income of black families shot up 6.8 % while income of whites did n't budge


( S ( S-ADV ( VP ( VBG Fueling ) ( NP ( NP ( DT a ) ( NN controversy ) ) ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( VP ( VBZ has ) ( VP ( VBN been ) ( VP ( VBG simmering ) ( PP-TMP ( IN for ) ( NP ( NNS years ) ) ) ) ) ) ) ) ) ) ) ( NP-SBJ-2 ( DT the ) ( NNP Census ) ( NNP Bureau ) ) ( ADVP ( RB also ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( PRP$ its ) ( NNS figures ) ) ( VP ( MD would ) ( VP ( VB look ) ( ADJP-PRD ( RB far ) ( RBR rosier ) ) ( SBAR-ADV ( IN if ) ( S ( NP-SBJ-3 ( PRP it ) ) ( VP ( VBD recalculated ) ( NP ( DT the ) ( NN poverty ) ( NN threshold ) ) ( S-ADV ( VP ( VBG using ) ( NP ( NP ( DT an ) ( VBN improved ) ( NN consumer-price ) ( NN measure ) ) ( VP ( VBN adopted ) ( PP-TMP ( IN in ) ( NP ( CD 1983 ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Fueling a controversy that has been simmering for years the Census Bureau also said its figures would look far rosier if it recalculated the poverty threshold using an improved consumer-price measure adopted in 1983


( S ( NP-SBJ ( DT The ) ( NN bureau ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( ADJP ( NP ( QP ( DT some ) ( CD 3.5 ) ( CD million ) ) ) ( JJR fewer ) ) ( NNS people ) ) ( VP ( MD would ) ( VP ( VB have ) ( VP ( VBN fallen ) ( PP-DIR ( IN below ) ( NP ( DT the ) ( NN poverty ) ( NN line ) ) ) ( PP-TMP ( IN in ) ( NP ( CD 1988 ) ) ) ( PRN ( CC and ) ( S ( NP-SBJ ( DT the ) ( NN poverty ) ( NN rate ) ) ( VP ( MD would ) ( VP ( VB have ) ( VP ( VBN been ) ( NP-PRD ( NP ( CD 10.5 ) ( NN % ) ) ( CONJP ( RB instead ) ( IN of ) ) ( NP ( CD 13.1 ) ( NN % ) ) ) ) ) ) ) ) ( PP-LOC ( IN under ) ( NP ( DT the ) ( JJ alternative ) ( NN calculation ) ) ) ) ) ) ) ) ) )

The bureau said some 3.5 million fewer people would have fallen below the poverty line in 1988 and the poverty rate would have been 10.5 % instead of 13.1 % under the alternative calculation


( S ( NP-SBJ ( NP ( NNS Critics ) ) ( PP-LOC ( IN on ) ( NP ( DT the ) ( NN left ) ( CC and ) ( NN right ) ) ) ) ( VP ( VBP have ) ( VP ( VBN been ) ( VP ( VBG calling ) ( PP-CLR ( IN for ) ( NP ( NP ( DT all ) ( NNS sorts ) ) ( PP ( IN of ) ( NP ( NP ( NNS revisions ) ) ( PP ( TO to ) ( NP ( DT the ) ( NN measure ) ) ) ) ) ) ) ( PP-TMP ( IN for ) ( NP ( NNS years ) ) ) ) ) ) )

Critics on the left and right have been calling for all sorts of revisions to the measure for years


( S ( NP-SBJ ( NP ( NP ( DT A ) ( NN report ) ) ( PP ( IN by ) ( NP ( NP ( DT the ) ( NN staff ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( NNP Joint ) ( NNP Economic ) ( NNP Committee ) ) ( PP ( IN of ) ( NP ( NNP Congress ) ) ) ) ) ) ) ) ( VP ( VBN released ) ( NP-TMP ( NN yesterday ) ) ) ) ( VP ( VBD concluded ) ( S ( NP-SBJ ( NP ( PRP It ) ) ) ( VP ( VBZ is ) ( ADJP-PRD ( VBG misleading ) ) ( S-1 ( VP ( TO to ) ( VP ( VB make ) ( NP ( DT this ) ( NN change ) ) ( PP ( IN without ) ( S-NOM ( VP ( VBG adjusting ) ( PP-CLR ( IN for ) ( NP ( JJ other ) ( NNS changes ) ) ) ) ) ) ) ) ) ) ) ) )

A report by the staff of the Joint Economic Committee of Congress released yesterday concluded It is misleading to make this change without adjusting for other changes


( S ( NP-SBJ-1 ( DT The ) ( JJ official ) ( NN poverty ) ( NN threshold ) ) ( VP ( VBZ is ) ( VP ( VBN set ) ( PP ( IN by ) ( NP-LGS ( NP ( DT the ) ( NNP Office ) ) ( PP ( IN of ) ( NP ( NNP Management ) ( CC and ) ( NNP Budget ) ) ) ) ) ) ) )

The official poverty threshold is set by the Office of Management and Budget


( S ( NP-SBJ ( NP ( DT The ) ( NNP Associated ) ( NNP Press ) ( POS 's ) ) ( NN earthquake ) ( NN coverage ) ) ( VP ( VBD drew ) ( NP ( NN attention ) ) ( PP-DIR ( TO to ) ( NP ( NP ( DT a ) ( NN phenomenon ) ) ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( VP ( VBZ deserves ) ( NP ( NP ( DT some ) ( NN thought ) ) ( PP ( IN by ) ( NP ( NP ( JJ public ) ( NNS officials ) ) ( CC and ) ( NP ( JJ other ) ( NN policy ) ( NNS makers ) ) ) ) ) ) ) ) ) ) ) )

The Associated Press 's earthquake coverage drew attention to a phenomenon that deserves some thought by public officials and other policy makers


( S ( NP-SBJ-1 ( NP ( JJ Private ) ( NN relief ) ( NNS agencies ) ) ( PP ( JJ such ) ( IN as ) ( NP ( DT the ) ( NX ( NX ( NNP Salvation ) ( NNP Army ) ) ( CC and ) ( NX ( NNP Red ) ( NNP Cross ) ) ) ) ) ) ( VP ( VBD mobilized ) ( ADVP-MNR ( RB almost ) ( RB instantly ) ) ( S-PRP ( VP ( TO to ) ( VP ( VB help ) ( NP ( NNS people ) ) ) ) ) ( SBAR-ADV ( IN while ) ( S ( NP-SBJ-2 ( DT the ) ( NNP Washington ) ( NN bureaucracy ) ) ( VP ( VBD took ) ( NP ( NNS hours ) ) ( S-CLR ( VP ( VBG getting ) ( PP-CLR ( IN into ) ( NP ( NN gear ) ) ) ) ) ) ) ) ) )

Private relief agencies such as the Salvation Army and Red Cross mobilized almost instantly to help people while the Washington bureaucracy took hours getting into gear


( S ( NP-SBJ ( NP ( CD One ) ( NN news ) ( NN show ) ) ( SBAR ( S ( NP-SBJ ( PRP we ) ) ( VP ( VBD saw ) ( NP-TMP ( NN yesterday ) ) ) ) ) ) ( ADVP ( RB even ) ) ( VP ( VBD displayed ) ( S ( NP-SBJ ( CD 25 ) ( JJ federal ) ( NNS officials ) ) ( VP ( VBG meeting ) ( PP-LOC ( IN around ) ( NP ( DT a ) ( NN table ) ) ) ) ) ) )

One news show we saw yesterday even displayed 25 federal officials meeting around a table


( S ( NP-SBJ ( PRP We ) ) ( VP ( VBP recall ) ( SBAR ( IN that ) ( S ( NP-SBJ ( NP ( DT the ) ( NN mayor ) ) ( PP ( IN of ) ( NP ( NNP Charleston ) ) ) ) ( VP ( VBD complained ) ( ADVP-MNR ( RB bitterly ) ) ( PP-CLR ( IN about ) ( NP ( NP ( NP ( DT the ) ( JJ federal ) ( NN bureaucracy ) ( POS 's ) ) ( NN response ) ) ( PP ( TO to ) ( NP ( NNP Hurricane ) ( NNP Hugo ) ) ) ) ) ) ) ) ) )

We recall that the mayor of Charleston complained bitterly about the federal bureaucracy 's response to Hurricane Hugo


( S ( NP-SBJ ( DT The ) ( NN sense ) ) ( VP ( VBZ grows ) ( SBAR-1 ( IN that ) ( S ( NP-SBJ ( JJ modern ) ( JJ public ) ( NNS bureaucracies ) ) ( ADVP ( RB simply ) ) ( VP ( VBP do ) ( RB n't ) ( VP ( VB perform ) ( NP ( PRP$ their ) ( VBN assigned ) ( NNS functions ) ) ( ADVP-MNR ( RB well ) ) ) ) ) ) ) )

The sense grows that modern public bureaucracies simply do n't perform their assigned functions well


( S ( S ( NP-SBJ ( DT The ) ( JJ frenetic ) ( NN stock ) ( CC and ) ( NN bond ) ( NNS markets ) ) ( VP ( VBD cooled ) ( ADVP-CLR ( RB off ) ) ) ) ( CC but ) ( S ( NP-SBJ ( DT the ) ( NN dollar ) ) ( VP ( VBD slumped ) ) ) )

The frenetic stock and bond markets cooled off but the dollar slumped


( S ( NP-SBJ ( NNS Stocks ) ) ( VP ( VBD rose ) ( ADVP ( RB slightly ) ) ( SBAR-TMP ( IN as ) ( S ( NP-SBJ ( NN trading ) ( NN activity ) ) ( VP ( VBD slowed ) ( PP-CLR ( IN from ) ( NP ( NP ( DT the ) ( JJ frenzied ) ( NN pace ) ) ( NP-TMP ( RB earlier ) ( DT this ) ( NN week ) ) ) ) ) ) ) ) )

Stocks rose slightly as trading activity slowed from the frenzied pace earlier this week


( S ( NP-SBJ-1 ( NP ( NNS Prices ) ) ( PP ( IN of ) ( NP ( JJ long-term ) ( NNP Treasury ) ( NNS bonds ) ) ) ) ( VP ( VBD hovered ) ( PP-LOC ( IN in ) ( NP ( DT a ) ( JJ narrow ) ( NN band ) ) ) ( NP-TMP ( NP ( JJS most ) ) ( PP ( IN of ) ( NP ( DT the ) ( NN day ) ) ) ) ( S-ADV ( VP ( VBG finishing ) ( S-ADV ( ADJP-PRD ( RB little ) ( JJ changed ) ) ) ( PP ( IN despite ) ( NP ( NP ( NP ( DT the ) ( NN dollar ) ( POS 's ) ) ( NN weakness ) ) ( CC and ) ( NP ( NP ( NNS fears ) ) ( PP ( IN about ) ( S-NOM ( NP-SBJ ( NP ( DT a ) ( NN wave ) ) ( PP ( IN of ) ( NP ( NN government ) ( NN borrowing ) ) ) ) ( VP ( VBG coming ) ( ADVP-TMP ( RB soon ) ) ) ) ) ) ) ) ) ) ) )

Prices of long-term Treasury bonds hovered in a narrow band most of the day finishing little changed despite the dollar 's weakness and fears about a wave of government borrowing coming soon


( S ( S-ADV ( VP ( VBN Helped ) ( PP ( IN by ) ( NP-LGS ( JJ futures-related ) ( NN program ) ( NN buying ) ) ) ) ) ( NP-SBJ-1 ( DT the ) ( NNP Dow ) ( NNP Jones ) ( NNP Industrial ) ( NNP Average ) ) ( VP ( VBD gained ) ( NP ( CD 4.92 ) ( NNS points ) ) ( S-ADV ( VP ( TO to ) ( VP ( VB close ) ( PP-CLR ( IN at ) ( NP ( CD 2643.65 ) ) ) ) ) ) ) )

Helped by futures-related program buying the Dow Jones Industrial Average gained 4.92 points to close at 2643.65


( S ( CC But ) ( NP-SBJ ( DT the ) ( NNP Dow ) ( NNP Jones ) ( NNP Transportation ) ( NNP Average ) ) ( VP ( VBD fell ) ( PP ( IN for ) ( NP ( DT the ) ( JJ seventh-consecutive ) ( NN session ) ) ) ( SBAR-TMP ( IN as ) ( S ( NP-SBJ ( JJR more ) ( NNS investors ) ) ( VP ( VBD dumped ) ( NP ( NNP UAL ) ( NNS shares ) ) ) ) ) ) )

But the Dow Jones Transportation Average fell for the seventh-consecutive session as more investors dumped UAL shares


( S ( NP-SBJ ( NN Bond ) ( NNS prices ) ) ( VP ( VBD rallied ) ( NP-TMP ( JJ early ) ( NN yesterday ) ( NN morning ) ) ( SBAR-TMP ( IN as ) ( S ( NP-SBJ-1 ( NNS traders ) ) ( VP ( VBD scrambled ) ( S-CLR ( VP ( TO to ) ( VP ( VB buy ) ( NP ( NNP Treasury ) ( NNS issues ) ) ) ) ) ( PP ( IN on ) ( NP ( NNS fears ) ( SBAR ( IN that ) ( S ( NP-SBJ ( DT the ) ( JJ Northern ) ( NNP California ) ( NN earthquake ) ) ( VP ( MD might ) ( VP ( VB lead ) ( PP-DIR ( TO to ) ( NP ( DT a ) ( NN stock-market ) ( NN debacle ) ) ) ) ) ) ) ) ) ) ) ) ) )

Bond prices rallied early yesterday morning as traders scrambled to buy Treasury issues on fears that the Northern California earthquake might lead to a stock-market debacle


( S ( CC But ) ( SBAR-TMP ( WHADVP-1 ( WRB when ) ) ( S ( NP-SBJ-2 ( NNS stocks ) ) ( VP ( VBD held ) ( S-ADV ( ADJP-PRD ( RB steady ) ) ) ) ) ) ( NP-SBJ ( NNP Treasury ) ( NNS bonds ) ) ( ADVP-TMP ( RB later ) ) ( VP ( VBD retreated ) ) )

But when stocks held steady Treasury bonds later retreated