( S ( NP-SBJ ( QP ( IN At ) ( JJS least ) ( CD three ) ) ( JJ other ) ( NNS factors ) ) ( VP ( VBP have ) ( VP ( VBN encouraged ) ( S ( NP-SBJ ( DT the ) ( NNP IMF ) ) ( VP ( TO to ) ( VP ( VB insist ) ( PP-CLR ( IN on ) ( NP ( VBN increased ) ( NN capital ) ) ) ) ) ) ) ) )

At least three other factors have encouraged the IMF to insist on increased capital


( S ( LST ( JJ First ) ) ( NP-SBJ ( PRP it ) ) ( VP ( VBZ argues ) ( SBAR ( IN that ) ( S ( NP-SBJ-1 ( PRP$ its ) ( NN capital ) ( NN base ) ) ( VP ( MD must ) ( VP ( VB be ) ( VP ( VBN increased ) ( SBAR-PRP ( PP ( IN in ) ( NP ( NN order ) ) ) ( S ( VP ( TO to ) ( VP ( VB maintain ) ( NP ( NP ( PRP$ its ) ( NN size ) ) ( ADJP ( JJ relative ) ( PP ( TO to ) ( NP ( NP ( NN world ) ( JJ financial ) ( NNS markets ) ) ( SBAR ( WHPP-2 ( IN for ) ( WHNP ( WDT which ) ) ) ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBZ feels ) ( NP-PRD ( DT some ) ( NN responsibility ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

First it argues that its capital base must be increased in order to maintain its size relative to world financial markets for which it feels some responsibility


( S ( LST ( JJ Second ) ) ( NP-SBJ ( NP ( NP ( DT the ) ( NNP World ) ( NNP Bank ) ( POS 's ) ) ( JJ recent ) ( ADJP ( QP ( CD 75 ) ( CD billion ) ) ) ( NN capital ) ( NN increase ) ) ( PRN ( NP ( NP ( QP ( CD 14 ) ( CD billion ) ) ) ( PP ( IN from ) ( NP ( DT the ) ( NNP U.S. ) ) ) ) ) ) ( VP ( VBZ has ) ( VP ( VBN left ) ( NP-SBJ ( DT the ) ( NNP IMF ) ) ( S-MNR ( VP ( VBG feeling ) ( ADJP-PRD ( JJR less ) ( PP ( IN than ) ( NP ( NP ( JJ first ) ( NN fiddle ) ) ( PP-LOC ( IN among ) ( NP ( JJ international ) ( JJ financial ) ( NNS institutions ) ) ) ) ) ) ) ) ) ) )

Second the World Bank 's recent 75 billion capital increase 14 billion from the U.S. has left the IMF feeling less than first fiddle among international financial institutions


( S ( LST ( JJ Third ) ) ( NP-SBJ-1 ( DT the ) ( NNP IMF ) ) ( VP ( MD would ) ( VP ( VB like ) ( S ( VP ( TO to ) ( VP ( VB meet ) ( NP ( NP ( NP ( NNP Japan ) ( POS 's ) ) ( NN request ) ) ( PP ( IN for ) ( NP ( NP ( VBN increased ) ( NN ownership ) ) ( PRN ( NP ( RB currently ) ( CD 4.5 ) ( NN % ) ) ) ) ) ) ) ) ) ) ) )

Third the IMF would like to meet Japan 's request for increased ownership currently 4.5 %


( S ( NP-SBJ ( NNP Japan ) ) ( VP ( VP ( VBZ has ) ( VP ( VBN supported ) ( NP ( NP ( DT a ) ( JJR larger ) ( NN role ) ) ( PP ( IN for ) ( NP ( DT the ) ( NNP IMF ) ) ) ( PP-LOC ( IN in ) ( NP ( JJ developing-country ) ( NN debt ) ( NNS issues ) ) ) ) ) ) ( CC and ) ( VP ( VP ( VBZ is ) ( NP-PRD ( NP ( DT an ) ( JJ important ) ( JJ financial ) ( NN resource ) ) ( PP ( IN for ) ( NP ( NP ( JJ IMF-guided ) ( NNS programs ) ) ( PP ( IN in ) ( NP ( VBG developing ) ( NNS countries ) ) ) ) ) ) ) ) ) )

Japan has supported a larger role for the IMF in developing-country debt issues and is an important financial resource for IMF-guided programs in developing countries


( S ( SBAR-ADV ( IN While ) ( S ( NP-SBJ ( JJ international ) ( NNS politics ) ) ( VP ( MD may ) ( VP ( VB argue ) ( PP-CLR ( IN for ) ( NP ( DT the ) ( NN capital ) ( NN increase ) ) ) ) ) ) ) ( NP-SBJ ( EX there ) ) ( VP ( VBZ is ) ( NP-PRD ( NP ( DT a ) ( JJ clear ) ( JJ economic ) ( NN case ) ) ( PP ( IN against ) ( NP ( PRP it ) ) ) ) ) )

While international politics may argue for the capital increase there is a clear economic case against it


( S ( NP-SBJ ( NP ( NNS Opponents ) ) ( PP ( IN of ) ( NP ( DT the ) ( NN increase ) ) ) ) ( VP ( VBP argue ) ( SBAR ( IN that ) ( S ( NP-SBJ-1 ( DT the ) ( NNP IMF ) ) ( VP ( NNS practices ) ( NP ( JJ central ) ( NN planning ) ) ( SBAR-TMP ( IN while ) ( S-NOM ( VP ( VBG supporting ) ( NP ( JJ ineffective ) ( NNS governments ) ) ) ) ) ) ) ) ) )

Opponents of the increase argue that the IMF practices central planning while supporting ineffective governments


( S ( NP-SBJ ( PRP They ) ) ( VP ( VBP question ) ( SBAR ( IN whether ) ( S ( NP-SBJ ( DT the ) ( NNP IMF ) ) ( VP ( VBZ has ) ( NP ( NP ( DT any ) ( NN role ) ) ( PP-LOC ( IN in ) ( NP ( VBG developing ) ( NNS countries ) ) ) ) ( PP ( VBN given ) ( NP ( PRP$ its ) ( JJ original ) ( NN mandate ) ( S ( VP ( TO to ) ( VP ( VB assist ) ( NP ( JJ industrial ) ( NNS countries ) ) ( PP-LOC ( IN in ) ( NP ( NNS balance-of-payments ) ( NNS emergencies ) ) ) ) ) ) ) ) ) ) ) ) )

They question whether the IMF has any role in developing countries given its original mandate to assist industrial countries in balance-of-payments emergencies


( S ( NP-SBJ ( NNS Opponents ) ) ( VP ( VBP show ) ( SBAR ( IN that ) ( S ( NP-SBJ ( EX there ) ) ( VP ( VBP are ) ( ADVP-TMP ( RB already ) ) ( NP-PRD ( NP ( NP ( JJR more ) ( NNS funds ) ) ( ADJP ( JJ available ) ) ) ( PP ( IN than ) ( NP ( JJ commendable ) ( NN reform ) ( NNS efforts ) ) ) ) ) ) ) ) )

Opponents show that there are already more funds available than commendable reform efforts


( S ( NP-SBJ ( PRP They ) ) ( VP ( VBP worry ) ( SBAR ( DT that ) ( S ( NP-SBJ ( NP ( JJ new ) ( NNP IMF ) ( NN funding ) ) ( PP ( IN of ) ( NP ( VBG developing ) ( NNS countries ) ) ) ) ( VP ( VP ( MD will ) ( ADVP ( RB simply ) ) ( VP ( VB end ) ( PRT ( RP up ) ) ( S ( VP ( VBG substituting ) ( NP ( NNP IMF ) ( NN debt ) ) ( PP-CLR ( IN for ) ( NP ( JJ reschedulable ) ( JJ commercial ) ( NN bank ) ( NN debt ) ) ) ) ) ) ) ( NP ( NP ( DT a ) ( JJ bad ) ( NN trade ) ) ( ADVP ( DT all ) ( IN around ) ) ) ) ) ) ) )

They worry that new IMF funding of developing countries will simply end up substituting IMF debt for reschedulable commercial bank debt a bad trade all around


( S ( NP-SBJ ( PRP They ) ) ( VP ( VBP believe ) ( SBAR ( S ( NP-SBJ ( NP ( NNS microeconomics ) ) ( SBAR ( WHNP-1 ( WDT which ) ) ( S ( VP ( VBZ addresses ) ( NP ( NP ( DT the ) ( NNS problems ) ) ( PP ( IN of ) ( NP ( NP ( NNS markets ) ) ( NP ( NN investment ) ( NN climate ) ) ( CC and ) ( NP ( NN management ) ( NNS practices ) ) ) ) ) ) ) ) ) ( VP ( VBZ is ) ( NP-PRD ( NP ( NP ( DT the ) ( NN key ) ) ( PP ( TO to ) ( NP ( JJ developing-country ) ( NN growth ) ) ) ) ( RB not ) ( NP ( NP ( NP ( DT the ) ( NNP IMF ) ( POS 's ) ) ( JJ Keynesian ) ( NN focus ) ) ( PP-LOC ( IN on ) ( NP ( NP ( NN trade ) ( NNS deficits ) ) ( NP ( JJ quarterly ) ( NNS targets ) ) ( CC and ) ( NP ( NN government ) ( NN debt ) ) ) ) ) ) ) ) ) ) )

They believe microeconomics which addresses the problems of markets investment climate and management practices is the key to developing-country growth not the IMF 's Keynesian focus on trade deficits quarterly targets and government debt


( S ( NP-SBJ ( PRP They ) ) ( VP ( VBP point ) ( PP-CLR ( IN at ) ( NP ( NP ( DT the ) ( JJ numerous ) ( JJ developing-country ) ( NNS governments ) ) ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( VP ( VBP have ) ( VP ( VBN inflated ) ( VBN taxed ) ( CC and ) ( VBN regulated ) ( NP ( PRP themselves ) ) ( PP-CLR ( IN into ) ( NP ( NN despair ) ) ) ( PP-LOC ( IN under ) ( NP ( JJ successive ) ( NNP IMF ) ( NNS programs ) ) ) ) ) ) ) ) ) ) )

They point at the numerous developing-country governments that have inflated taxed and regulated themselves into despair under successive IMF programs


( S ( NP-SBJ-1 ( NP ( NNS Decisions ) ) ( PP-LOC ( IN on ) ( NP ( NP ( NNS increases ) ) ( PP-LOC ( IN in ) ( NP ( NP ( DT the ) ( NNP IMF ) ( POS 's ) ) ( NN capital ) ( NN base ) ) ) ) ) ) ( ADVP ( RB traditionally ) ) ( VP ( VBP are ) ( VP ( VBN made ) ( PP ( IN by ) ( NP-LGS ( DT the ) ( NN administration ) ) ) ( PP ( IN with ) ( NP ( NP ( JJ subsequent ) ) ( NN authorization ) ( PP ( IN by ) ( NP ( NNP Congress ) ) ) ) ) ) ) )

Decisions on increases in the IMF 's capital base traditionally are made by the administration with subsequent authorization by Congress


( S ( NP-SBJ ( NP ( DT The ) ( JJ last ) ( NNP U.S. ) ( JJ congressional ) ( NN authorization ) ) ( PP-TMP ( IN in ) ( NP ( CD 1983 ) ) ) ) ( VP ( VP ( VBD was ) ( NP-PRD ( DT a ) ( JJ political ) ( NN donnybrook ) ) ) ( CC and ) ( VP ( VBD carried ) ( NP ( DT a ) ( ADJP ( QP ( CD 6 ) ( CD billion ) ) ) ( NN housing ) ( NN program ) ) ( ADVP ( IN along ) ( PP ( IN with ) ( NP ( PRP it ) ) ) ) ( S-PRP ( VP ( TO to ) ( VP ( VB secure ) ( NP ( JJ adequate ) ( NNS votes ) ) ) ) ) ) ) )

The last U.S. congressional authorization in 1983 was a political donnybrook and carried a 6 billion housing program along with it to secure adequate votes


( S ( NP-SBJ ( NP ( DT The ) ( NNS politics ) ) ( PP ( IN of ) ( NP ( DT the ) ( CD 1990 ) ( JJ congressional ) ( NN authorization ) ) ) ) ( VP ( VBP are ) ( ADJP-PRD ( JJ likely ) ( S ( VP ( TO to ) ( VP ( VB be ) ( ADJP-PRD ( JJ similar ) ( PP ( TO to ) ( NP ( NP ( DT those ) ) ( PP ( IN of ) ( NP ( JJ previous ) ( NNS authorizations ) ) ) ) ) ) ) ) ) ) ) )

The politics of the 1990 congressional authorization are likely to be similar to those of previous authorizations


( S ( NP-SBJ ( NNS Liberals ) ) ( VP ( MD may ) ( VP ( VB support ) ( NP ( NP ( DT the ) ( VBG stabilizing ) ( JJ quasi-governmental ) ( NN role ) ) ( PP ( IN of ) ( NP ( DT the ) ( NNP IMF ) ) ) ) ( PP ( IN on ) ( NP ( NP ( CD two ) ( NNS conditions ) ) ( SBAR ( SBAR ( IN that ) ( S ( NP-SBJ ( DT the ) ( NN administration ) ) ( VP ( VBP give ) ( NP ( NNS assurances ) ( SBAR ( IN that ) ( S ( NP-SBJ-1 ( NP ( JJ liberal ) ( NNPS Democrats ) ( POS ' ) ) ( NN support ) ) ( VP ( MD will ) ( RB not ) ( VP ( VB be ) ( VP ( VBN used ) ( PP-CLR ( IN against ) ( NP ( PRP them ) ) ) ( PP-LOC ( IN in ) ( NP ( JJ congressional ) ( NN re-election ) ( NNS campaigns ) ) ) ) ) ) ) ) ) ) ) ) ( CC and ) ( SBAR ( IN that ) ( S ( NP-SBJ ( DT the ) ( NN legislation ) ) ( VP ( NN address ) ( PRN ( PP ( IN with ) ( NP ( NNS dollars ) ) ) ) ( NP ( ADJP ( JJ social ) ( CC and ) ( JJ environmental ) ) ( NNS concerns ) ) ) ) ) ) ) ) ) ) )

Liberals may support the stabilizing quasi-governmental role of the IMF on two conditions that the administration give assurances that liberal Democrats ' support will not be used against them in congressional re-election campaigns and that the legislation address with dollars social and environmental concerns


( S ( NP-SBJ-1 ( NNP Conservative ) ( NNPS Republicans ) ) ( VP ( MD will ) ( VP ( VB be ) ( VP ( VBN given ) ( NP ( NP ( DT the ) ( NN choice ) ) ( PP ( IN of ) ( S-NOM ( VP ( VBG supporting ) ( CC or ) ( VBG fighting ) ( NP ( NP ( PRP$ their ) ( NN party ) ( POS 's ) ) ( JJ popular ) ( NN president ) ) ( PP-TMP ( IN in ) ( NP ( DT an ) ( NN election ) ( NN year ) ) ) ) ) ) ) ) ) ) )

Conservative Republicans will be given the choice of supporting or fighting their party 's popular president in an election year


( S ( NP-SBJ-1 ( DT A ) ( NNP U.S. ) ( NN decision ) ( S ( VP ( TO to ) ( VP ( VP ( VB refuse ) ( NP ( DT the ) ( NNP IMF ) ) ( NP ( PRP$ its ) ( NN capital ) ( NN increase ) ) ) ( CC or ) ( VP ( VB limit ) ( NP ( PRP it ) ) ( PP-CLR ( TO to ) ( NP ( CD 25 ) ( NN % ) ) ) ) ) ) ) ) ( VP ( VP ( MD would ) ( VP ( VB bring ) ( NP ( NP ( DT a ) ( JJ major ) ( NN change ) ) ( PP-LOC ( IN in ) ( NP ( JJ international ) ( JJ economic ) ( NN policy ) ) ) ) ) ) ( CC and ) ( VP ( MD could ) ( RB not ) ( VP ( VB be ) ( VP ( VBN taken ) ( ADVP-CLR ( RB lightly ) ) ) ) ) ) )

A U.S. decision to refuse the IMF its capital increase or limit it to 25 % would bring a major change in international economic policy and could not be taken lightly


( S ( NP-SBJ ( NNS Commentators ) ) ( VP ( MD would ) ( VP ( VB fret ) ( PP-CLR ( IN over ) ( NP ( NP ( DT the ) ( NNS implications ) ) ( PP ( IN for ) ( NP ( NP ( DT the ) ( NN G-7 ) ( NN coordination ) ( NN process ) ) ( CC and ) ( NP ( NP ( DT the ) ( NN stability ) ) ( PP ( IN of ) ( NP ( NN world ) ( JJ financial ) ( NNS markets ) ) ) ) ) ) ) ) ) ) )

Commentators would fret over the implications for the G-7 coordination process and the stability of world financial markets


( S ( SBAR-PRP ( IN Because ) ( S ( NP-SBJ ( NP ( JJ commercial ) ( NNS banks ) ) ( CC and ) ( NP ( DT the ) ( JJ developing-country ) ( NNS governments ) ) ) ( VP ( VBP believe ) ( SBAR ( S ( NP-SBJ ( PRP they ) ) ( VP ( MD will ) ( VP ( VB get ) ( NP ( NP ( DT a ) ( NN piece ) ) ( PP ( IN of ) ( NP ( DT any ) ( NN capital ) ( NN increase ) ) ) ) ) ) ) ) ) ) ) ( NP-SBJ ( DT a ) ( JJ scaled-down ) ( NNP IMF ) ( NN mission ) ) ( VP ( MD would ) ( VP ( VB leave ) ( S ( NP-SBJ ( DT both ) ) ( VP ( VBG feeling ) ( ADJP-PRD ( VBN shortchanged ) ) ) ) ) ) )

Because commercial banks and the developing-country governments believe they will get a piece of any capital increase a scaled-down IMF mission would leave both feeling shortchanged


( S ( ADVP ( RB Furthermore ) ) ( NP-SBJ ( NP ( DT a ) ( NNP U.S. ) ( NN rejection ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( NN capital ) ( NN increase ) ) ( PRN ( CC and ) ( NP ( NP ( NN transfer ) ) ( PP ( IN of ) ( NP ( NNS shares ) ) ) ( PP ( TO to ) ( NP ( NNP Japan ) ) ) ) ) ) ) ) ( VP ( MD would ) ( VP ( VB give ) ( NP ( NNP Japan ) ) ( NP ( NP ( DT an ) ( NN argument ) ) ( PP ( IN against ) ( NP ( NP ( JJ future ) ( NNS calls ) ) ( PP ( IN for ) ( NP ( JJ economic ) ( NN burden-sharing ) ) ) ) ) ) ) ) )

Furthermore a U.S. rejection of the capital increase and transfer of shares to Japan would give Japan an argument against future calls for economic burden-sharing


( S ( PP ( IN On ) ( NP ( DT the ) ( JJ other ) ( NN hand ) ) ) ( NP-SBJ ( DT a ) ( NN decision ) ( S ( VP ( TO to ) ( VP ( VB increase ) ( NP ( NP ( DT the ) ( NNP IMF ) ( POS 's ) ) ( NN capital ) ) ) ) ) ) ( VP ( MD would ) ( VP ( VB reinforce ) ( NP ( NP ( DT the ) ( JJ central ) ( JJ economic ) ( NN role ) ) ( PP ( IN of ) ( NP ( NP ( JJ multilateral ) ( NNS institutions ) ) ( PP-LOC ( IN in ) ( NP ( VBG developing ) ( NNS countries ) ) ) ) ) ) ) ) )

On the other hand a decision to increase the IMF 's capital would reinforce the central economic role of multilateral institutions in developing countries


( S ( PP ( IN With ) ( NP ( DT the ) ( NN increase ) ) ) ( NP-SBJ-1 ( ADJP ( RB even ) ( RBR more ) ) ( JJ developing-country ) ( NN energy ) ( CC and ) ( NN talent ) ) ( VP ( MD would ) ( VP ( VB be ) ( VP ( VBN diverted ) ( PP-DIR ( IN from ) ( S-NOM ( VP ( VBG creating ) ( NP ( JJ profitable ) ( JJ economic ) ( NNS systems ) ) ) ) ) ( PP-DIR ( TO to ) ( S-NOM ( VP ( NN setting ) ( PRT ( RP up ) ) ( NP ( NP ( JJ economic ) ( VBG planning ) ( NNS ministries ) ) ( SBAR ( WHNP-2 ( WDT that ) ) ( S ( VP ( VBP generate ) ( NP ( JJ IMF-approved ) ( JJ economic ) ( NNS plans ) ) ) ) ) ) ) ) ) ) ) ) )

With the increase even more developing-country energy and talent would be diverted from creating profitable economic systems to setting up economic planning ministries that generate IMF-approved economic plans


( S ( S-NOM-SBJ ( VP ( VBG Upping ) ( NP ( DT the ) ( NN ante ) ) ) ) ( VP ( MD could ) ( VP ( VB slow ) ( NP ( JJ economic ) ( NN development ) ) ( ADVP ( RB even ) ( RB further ) ) ) ( SBAR-TMP ( IN as ) ( S ( NP-SBJ ( NNS countries ) ) ( VP ( VBP delay ) ( NP ( JJ market-opening ) ( NNS steps ) ) ( PP ( IN in ) ( NP ( NP ( NN anticipation ) ) ( PP ( IN of ) ( NP ( JJR richer ) ( JJ multilateral ) ( NN support ) ) ) ) ) ) ) ) ) )

Upping the ante could slow economic development even further as countries delay market-opening steps in anticipation of richer multilateral support


( S ( NP-SBJ ( NNS Conservatives ) ) ( VP ( MD should ) ( VP ( VB take ) ( NP ( DT a ) ( NN position ) ) ( PP-TMP ( RB prior ) ( PP ( TO to ) ( NP ( NP ( DT the ) ( NN administration ) ( POS 's ) ) ( JJ year-end ) ( NN deadline ) ) ) ) ) ) )

Conservatives should take a position prior to the administration 's year-end deadline


( S ( NP-SBJ ( DT The ) ( NNS issues ) ) ( VP ( VBP are ) ( ADJP-PRD ( RB too ) ( JJ important ) ( S ( VP ( TO to ) ( VP ( VB be ) ( VP ( VBN left ) ( PP-DTV ( TO to ) ( NP ( NP ( DT the ) ( JJ financial ) ( CC and ) ( NN budget ) ( NNS ministries ) ) ( VP ( VBG fighting ) ( PP-CLR ( IN over ) ( NP ( NP ( NP ( DT the ) ( NN size ) ) ( PP ( IN of ) ( NP ( DT the ) ( NN capital ) ( NN increase ) ) ) ) ( PP ( RB rather ) ( IN than ) ( NP ( PRP$ its ) ( NN purpose ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

The issues are too important to be left to the financial and budget ministries fighting over the size of the capital increase rather than its purpose


( S ( SBAR-ADV ( IN If ) ( S ( NP-SBJ ( NNS conservatives ) ) ( VP ( VBP do ) ( RB n't ) ( VP ( VB support ) ( NP ( NP ( DT an ) ( NN increase ) ) ( PP-LOC ( IN in ) ( NP ( NP ( DT the ) ( NNP IMF ) ( POS 's ) ) ( NN capital ) ) ) ) ) ) ) ) ( ADVP ( RB then ) ) ( NP-SBJ ( NP ( PRP it ) ) ) ( VP ( VBZ is ) ( ADJP-PRD ( JJ incumbent ) ( PP ( IN on ) ( NP ( PRP them ) ) ) ) ( S-1 ( TO to ) ( VP ( VP ( VB speak ) ( PRT ( RP up ) ) ( ADVP-TMP ( RB now ) ) ) ( CC and ) ( VP ( VB explain ) ( NP ( DT the ) ( NN alternative ) ) ) ) ) ) )

If conservatives do n't support an increase in the IMF 's capital then it is incumbent on them to speak up now and explain the alternative


( S ( NP-SBJ ( NNP Mr. ) ( NNP Malpass ) ) ( VP ( VBZ directs ) ( NP ( NP ( DT the ) ( JJ Republican ) ( NN staff ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( NNP Joint ) ( NNP Economic ) ( NNP Committee ) ) ( PP ( IN of ) ( NP ( NNP Congress ) ) ) ) ) ) ) )

Mr. Malpass directs the Republican staff of the Joint Economic Committee of Congress


( S ( NP-SBJ-1 ( NNP Great ) ( NNP American ) ( NNP Bank ) ) ( S-ADV ( VP ( VBG citing ) ( NP ( JJ depressed ) ( NNP Arizona ) ( JJ real ) ( NN estate ) ( NNS prices ) ) ) ) ( VP ( VBD posted ) ( NP ( NP ( DT a ) ( NN third-quarter ) ( NN loss ) ) ( PP ( IN of ) ( NP ( NP ( QP ( CD 59.4 ) ( CD million ) ) ) ( CC or ) ( NP ( NP ( CD 2.48 ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ) ) ) )

Great American Bank citing depressed Arizona real estate prices posted a third-quarter loss of 59.4 million or 2.48 a share


( S ( ADVP-TMP ( NP ( DT A ) ( NN year ) ) ( RBR earlier ) ) ( NP-SBJ ( DT the ) ( NNS savings ) ( NN bank ) ) ( VP ( VBD had ) ( NP ( NP ( NNS earnings ) ) ( PP ( IN of ) ( NP ( NP ( QP ( CD 8.1 ) ( CD million ) ) ) ( CC or ) ( NP ( NP ( CD 33 ) ( NNS cents ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ) ) ) )

A year earlier the savings bank had earnings of 8.1 million or 33 cents a share


( S ( PP-TMP ( IN For ) ( NP ( DT the ) ( CD nine ) ( NNS months ) ) ) ( NP-SBJ ( PRP it ) ) ( VP ( VBD had ) ( NP ( NP ( DT a ) ( NN loss ) ) ( PP ( IN of ) ( NP ( NP ( QP ( CD 58.3 ) ( CD million ) ) ) ( CC or ) ( NP ( NP ( CD 2.44 ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ) ) ( PP-TMP ( IN after ) ( NP ( NP ( NNS earnings ) ) ( PP ( IN of ) ( NP ( NP ( QP ( CD 29.5 ) ( CD million ) ) ) ( CC or ) ( NP ( NP ( CD 1.20 ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ( PP-TMP ( IN in ) ( NP ( DT the ) ( CD 1988 ) ( NN period ) ) ) ) ) ) ) )

For the nine months it had a loss of 58.3 million or 2.44 a share after earnings of 29.5 million or 1.20 a share in the 1988 period


( S ( NP-SBJ ( NNP Great ) ( NNP American ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ-1 ( PRP it ) ) ( VP ( VBD increased ) ( NP ( PRP$ its ) ( NN loan-loss ) ( NNS reserves ) ) ( PP-EXT ( IN by ) ( NP ( QP ( CD 93 ) ( CD million ) ) ) ) ( PP-TMP ( IN after ) ( S-NOM ( VP ( VP ( VBG reviewing ) ( NP ( PRP$ its ) ( NN loan ) ( NN portfolio ) ) ) ) ) ) ( S-ADV ( VP ( VBG raising ) ( NP ( PRP$ its ) ( JJ total ) ( NN loan ) ( CC and ) ( JJ real ) ( NN estate ) ( NNS reserves ) ) ( PP-DIR ( TO to ) ( NP ( QP ( CD 217 ) ( CD million ) ) ) ) ) ) ) ) ) ) )

Great American said it increased its loan-loss reserves by 93 million after reviewing its loan portfolio raising its total loan and real estate reserves to 217 million


( S ( PP-TMP ( IN Before ) ( NP ( DT the ) ( NN loan-loss ) ( NN addition ) ) ) ( PRN ( NP-SBJ ( PRP it ) ) ( VP ( VBD said ) ) ) ( NP-SBJ ( PRP it ) ) ( VP ( VBD had ) ( NP ( NP ( VBG operating ) ( NN profit ) ) ( PP ( IN of ) ( NP ( QP ( CD 10 ) ( CD million ) ) ) ) ) ( PP-TMP ( IN for ) ( NP ( DT the ) ( NN quarter ) ) ) ) )

Before the loan-loss addition it said it had operating profit of 10 million for the quarter


( S ( NP-SBJ ( DT The ) ( NN move ) ) ( VP ( VBD followed ) ( NP ( NP ( DT a ) ( NN round ) ) ( PP ( IN of ) ( NP ( NP ( JJ similar ) ( NNS increases ) ) ( PP ( IN by ) ( NP ( JJ other ) ( NNS lenders ) ) ) ( PP ( IN against ) ( NP ( NNP Arizona ) ( JJ real ) ( NN estate ) ( NNS loans ) ) ) ) ) ) ( S-ADV ( VP ( VBG reflecting ) ( NP ( NP ( DT a ) ( VBG continuing ) ( NN decline ) ) ( PP-LOC ( IN in ) ( NP ( DT that ) ( NN market ) ) ) ) ) ) ) )

The move followed a round of similar increases by other lenders against Arizona real estate loans reflecting a continuing decline in that market


( S ( PP ( IN In ) ( NP ( NP ( NN addition ) ) ( PP ( TO to ) ( NP ( DT the ) ( VBN increased ) ( NN reserve ) ) ) ) ) ( NP-SBJ ( DT the ) ( NNS savings ) ( NN bank ) ) ( VP ( VBD took ) ( NP ( NP ( DT a ) ( JJ special ) ( NN charge ) ) ( PP ( IN of ) ( NP ( NP ( QP ( CD 5 ) ( CD million ) ) ) ( VP ( VBG representing ) ( NP ( NP ( JJ general ) ( CC and ) ( JJ administrative ) ( NNS expenses ) ) ( PP ( IN from ) ( NP ( NP ( NN staff ) ( NNS reductions ) ) ( CC and ) ( NP ( JJ other ) ( NNS matters ) ) ) ) ) ) ) ) ) ) ( CC and ) ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBD posted ) ( NP ( NP ( DT a ) ( ADJP ( QP ( CD 7.6 ) ( CD million ) ) ) ( NN reduction ) ) ( PP ( IN in ) ( NP ( VBN expected ) ( NN mortgage ) ( VBG servicing ) ( NNS fees ) ) ) ) ( S-ADV ( VP ( VBG reflecting ) ( NP ( DT the ) ( NN fact ) ( SBAR ( IN that ) ( S ( NP-SBJ ( JJR more ) ( NNS borrowers ) ) ( VP ( VBP are ) ( VP ( VBG prepaying ) ( NP ( PRP$ their ) ( NNS mortgages ) ) ) ) ) ) ) ) ) ) ) )

In addition to the increased reserve the savings bank took a special charge of 5 million representing general and administrative expenses from staff reductions and other matters and it posted a 7.6 million reduction in expected mortgage servicing fees reflecting the fact that more borrowers are prepaying their mortgages


( S ( NP-SBJ-1 ( NP ( NNP NBC ) ( POS 's ) ) ( VBG winning ) ( NN streak ) ) ( VP ( VBZ has ) ( VP ( VBN been ) ( VP ( VBN canceled ) ) ) ) )

NBC 's winning streak has been canceled


( S ( NP-SBJ ( NP ( DT The ) ( NNP National ) ( NNP Broadcasting ) ( NNP Co. ) ) ( NP ( NP ( DT a ) ( NN unit ) ) ( PP ( IN of ) ( NP ( NNP General ) ( NNP Electric ) ( NNP Co. ) ) ) ) ) ( VP ( VBD had ) ( S ( NP-SBJ-1 ( NP ( PRP$ its ) ( JJ record-breaking ) ( JJ 68-week ) ( NN reign ) ) ( PP ( IN as ) ( NP ( DT the ) ( JJ prime-time ) ( NNS ratings ) ( NN leader ) ) ) ) ( VP ( VBD snapped ) ( NP-TMP ( NN yesterday ) ) ( PP ( IN by ) ( NP-LGS ( NP ( NNP ABC-TV ) ) ( NP ( NP ( DT a ) ( NN subsidiary ) ) ( PP ( IN of ) ( NP ( NNP Capital ) ( NNP Cities\/ABC ) ( NNP Inc ) ) ) ) ) ) ) ) ) )

The National Broadcasting Co. a unit of General Electric Co. had its record-breaking 68-week reign as the prime-time ratings leader snapped yesterday by ABC-TV a subsidiary of Capital Cities\/ABC Inc


( S ( PP-LOC ( IN In ) ( NP ( NP ( DT the ) ( NNS ratings ) ) ( VP ( VBN compiled ) ( PP ( IN by ) ( NP-LGS ( DT the ) ( NNP A.C. ) ( NNP Nielsen ) ( NNP Co. ) ) ) ) ) ) ( NP-SBJ ( NP ( NNP ABC ) ) ( SBAR ( WHNP-1 ( WDT which ) ) ( S ( VP ( VBD broadcast ) ( NP ( DT the ) ( NNP World ) ( NNP Series ) ) ) ) ) ) ( VP ( VBD topped ) ( NP ( DT the ) ( NN competition ) ) ( PP-CLR ( IN with ) ( NP ( DT a ) ( CD 14.8 ) ( NN rating ) ( CC and ) ( CD 25 ) ( NN share ) ) ) ) )

In the ratings compiled by the A.C. Nielsen Co. ABC which broadcast the World Series topped the competition with a 14.8 rating and 25 share


( S ( NP-SBJ ( NNP NBC ) ) ( VP ( VBD was ) ( ADJP-PRD ( JJ second ) ) ( PP ( IN with ) ( NP ( DT a ) ( NX ( NX ( CD 13.9 ) ( NN rating ) ) ( CC and ) ( NX ( CD 24 ) ( NN share ) ) ) ) ) ( PP ( VBN followed ) ( PP ( IN by ) ( NP ( NP ( NP ( NNP CBS ) ( NNP Inc. ) ( POS 's ) ) ( NN television ) ( NN network ) ) ( PP ( IN with ) ( NP ( DT a ) ( NX ( NX ( CD 12.5 ) ( NN rating ) ) ( CC and ) ) ( NX ( CD 21 ) ( NN share ) ) ) ) ) ) ) ) )

NBC was second with a 13.9 rating and 24 share followed by CBS Inc. 's television network with a 12.5 rating and 21 share


( S ( S ( NP-SBJ ( DT A ) ( NNS ratings ) ( NN point ) ) ( VP ( VBZ represents ) ( NP ( CD 904,000 ) ( NN television ) ( NNS households ) ) ) ) ( S ( NP-SBJ ( NNS shares ) ) ( VP ( VBP indicate ) ( NP ( NP ( DT the ) ( NN percentage ) ) ( PP ( IN of ) ( NP ( NP ( NNS sets ) ) ( PP ( IN in ) ( NP ( NN use ) ) ) ) ) ) ) ) )

A ratings point represents 904,000 television households shares indicate the percentage of sets in use


( S ( S ( NP-SBJ ( NP ( DT The ) ( JJ first ) ( CD two ) ( NNS games ) ) ( PP ( IN of ) ( NP ( DT the ) ( NNP World ) ( NNP Series ) ) ) ( PP ( IN between ) ( NP ( DT the ) ( NX ( NX ( NNP Oakland ) ( NNP Athletics ) ) ( CC and ) ( NX ( NNP San ) ( NNP Francisco ) ( NNPS Giants ) ) ) ) ) ) ( VP ( VBD did ) ( RB n't ) ( VP ( VB finish ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( JJ top ) ( CD 10 ) ) ) ) ) ) ( S ( ADVP ( RB instead ) ) ( NP-SBJ ( PRP they ) ) ( VP ( VBD landed ) ( PP-LOC-CLR ( IN in ) ( NP ( JJ 16th ) ( CC and ) ( JJ 18th ) ( NN place ) ) ) ) ) )

The first two games of the World Series between the Oakland Athletics and San Francisco Giants did n't finish in the top 10 instead they landed in 16th and 18th place


( S ( NP-SBJ-1 ( DT The ) ( JJ highest-rated ) ( NN show ) ) ( VP ( VBZ continues ) ( S ( VP ( TO to ) ( VP ( VB be ) ( NP-PRD ( NP ( NNP ABC ) ( POS 's ) ) ( NNP Roseanne ) ) ) ) ) ) )

The highest-rated show continues to be ABC 's Roseanne


( S ( S ( NP-SBJ ( NNP NBC ) ) ( VP ( VBD had ) ( NP ( NP ( NP ( CD five ) ) ( PP ( IN of ) ( NP ( DT the ) ( JJ top ) ( CD 10 ) ) ) ) ( NNS shows ) ) ) ) ( S ( S ( NP-SBJ ( NNP ABC ) ) ( VP ( VBD had ) ( NP ( CD four ) ) ) ) ( CC and ) ( S ( NP-SBJ ( NNP CBS ) ) ( VP ( VBD had ) ( NP ( CD one ) ) ) ) ) )

NBC had five of the top 10 shows ABC had four and CBS had one


( S ( NP-SBJ ( NNP CBS ) ) ( VP ( VBD held ) ( NP ( NP ( DT the ) ( JJ previous ) ( NN record ) ) ( PP ( IN for ) ( NP ( JJ consecutive ) ( NNP No. ) ( CD 1 ) ( NNS victories ) ) ) ( PRN ( NP ( CD 46 ) ( NNS weeks ) ) ) ) ( PP-TMP ( IN during ) ( NP ( DT the ) ( CD 1962-63 ) ( NN season ) ) ) ) )

CBS held the previous record for consecutive No. 1 victories 46 weeks during the 1962-63 season


( S ( NP-SBJ ( NNP Cross ) ( CC & ) ( NNP Trecker ) ( NNP Corp. ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBD reached ) ( NP ( DT an ) ( NN agreement ) ( S ( VP ( TO to ) ( VP ( VB sell ) ( NP ( PRP$ its ) ( NNP Wiedemann ) ( NN division ) ) ( PP-DTV ( TO to ) ( NP ( NP ( ADJP ( RB recently ) ( VBN created ) ) ( NNP Murata ) ( NNP Wiedemann ) ( NNP Inc. ) ) ( NP ( NP ( DT a ) ( NNP U.S. ) ( NN affiliate ) ) ( PP ( IN of ) ( NP ( NP ( NNP Murata ) ( NNP Machinery ) ( NNP Ltd. ) ) ( PP-LOC ( IN of ) ( NP ( NP ( NNP Kyoto ) ) ( NP ( NNP Japan ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Cross & Trecker Corp. said it reached an agreement to sell its Wiedemann division to recently created Murata Wiedemann Inc. a U.S. affiliate of Murata Machinery Ltd. of Kyoto Japan


( S ( NP-SBJ ( DT The ) ( NN agreement ) ) ( ADVP ( RB also ) ) ( VP ( VBZ includes ) ( NP ( NP ( DT the ) ( NN purchase ) ) ( PP ( IN of ) ( NP ( NP ( NNP Cross ) ( CC & ) ( NNP Trecker ) ( POS 's ) ) ( NP ( NNP Warner ) ( CC & ) ( NNP Swasey ) ( PRN ( NP ( NNP Switzerland ) ) ) ( NNP AG ) ( NN unit ) ) ) ) ( PP ( IN by ) ( NP-LGS ( NP ( DT a ) ( JJ European ) ( NN affiliate ) ) ( PP ( IN of ) ( NP ( NNP Murata ) ( NNP Machinery ) ) ) ) ) ) ) )

The agreement also includes the purchase of Cross & Trecker 's Warner & Swasey Switzerland AG unit by a European affiliate of Murata Machinery


( S ( NP-SBJ ( NNP Cross ) ( CC & ) ( NNP Trecker ) ) ( VP ( VBZ is ) ( ADVP ( RB also ) ) ( VP ( VBG selling ) ( NP ( NP ( PRP$ its ) ( NN equity ) ( NN interest ) ) ( PP-LOC ( IN in ) ( NP ( NP ( DT a ) ( JJ Japanese ) ( NN joint ) ( NN venture ) ) ( NP ( NNP Murata ) ( NNP Warner ) ( NNP Swasey ) ) ) ) ) ( PP-DTV ( TO to ) ( NP ( NNP Murata ) ( NNP Machinery ) ) ) ) ) )

Cross & Trecker is also selling its equity interest in a Japanese joint venture Murata Warner Swasey to Murata Machinery


( S ( NP-SBJ ( NP ( NNP Cross ) ( CC & ) ( NNP Trecker ) ) ( NP ( DT a ) ( NAC-LOC ( NNP Bloomfield ) ( NNPS Hills ) ( NNP Mich. ) ) ( JJ machine-tool ) ( NN maker ) ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( NP ( DT the ) ( JJ net ) ( NNS sales ) ( NN price ) ) ( PP ( IN of ) ( NP ( DT the ) ( JJ total ) ( NN transaction ) ) ) ) ( VP ( VBZ is ) ( NP-PRD ( QP ( CD 24 ) ( CD million ) ) ) ) ) ) ) )

Cross & Trecker a Bloomfield Hills Mich. machine-tool maker said the net sales price of the total transaction is 24 million


( S ( NP-SBJ ( DT The ) ( NNP Wiedemann ) ( NN division ) ) ( VP ( VBD was ) ( NP-PRD ( NP ( CD one ) ) ( PP ( IN of ) ( NP ( NP ( CD three ) ( NNS businesses ) ) ( VP ( VBN put ) ( PRT ( RP up ) ) ( PP ( IN for ) ( NP ( NN sale ) ) ) ( PP-LOC ( IN in ) ( NP ( NP ( NP ( NNP Cross ) ( CC & ) ( NNP Trecker ) ( POS 's ) ) ( VBG restructuring ) ( NN program ) ) ( VP ( VBN announced ) ( PP-TMP-CLR ( IN in ) ( NP ( NNP July ) ) ) ) ) ) ) ) ) ) ) )

The Wiedemann division was one of three businesses put up for sale in Cross & Trecker 's restructuring program announced in July


( S ( NP-SBJ ( NNP Cross ) ( CC & ) ( NNP Trecker ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( NP ( NNS negotiations ) ) ) ( VP ( VBP are ) ( PP-PRD ( IN under ) ( NP ( NN way ) ) ) ( PP-1 ( IN for ) ( NP ( NP ( DT the ) ( NN sale ) ) ( PP ( IN of ) ( NP ( NP ( DT another ) ( NN company ) ) ( NP ( NNP RobertsCorp ) ) ) ) ) ) ) ) ) ) )

Cross & Trecker said negotiations are under way for the sale of another company RobertsCorp


( S ( NP-SBJ-2 ( NNP Robert ) ( NNP J. ) ( NNP Regal ) ) ( VP ( VBD was ) ( VP ( VBN named ) ( S ( NP-PRD ( NP ( NP ( NN president ) ) ) ( CC and ) ( NP ( NP ( NN chief ) ( JJ executive ) ( NN officer ) ) ) ( PP-1 ( IN of ) ( NP ( NP ( DT this ) ( NN company ) ( POS 's ) ) ( NNP Universal-Rundle ) ( NNP Corp. ) ( NN unit ) ) ) ) ) ) ) )

Robert J. Regal was named president and chief executive officer of this company 's Universal-Rundle Corp. unit


( S ( NP-SBJ ( NNP Mr. ) ( NNP Regal ) ) ( VP ( VBD had ) ( VP ( VBN been ) ( NP-PRD ( NP ( NP ( NN president ) ) ) ( CC and ) ( NP ( NP ( NN chief ) ( NN executive ) ) ) ( PP-2 ( IN of ) ( NP ( NNP RBS ) ( NNPS Industries ) ( NNP Inc ) ) ) ) ) ) )

Mr. Regal had been president and chief executive of RBS Industries Inc


( S ( NP-SBJ ( NP ( NNP Robert ) ( NNP H. ) ( NNP Carlson ) ) ( NP ( NP ( JJ previous ) ( NX ( NX ( NN president ) ) ( CC and ) ( NX ( NN chief ) ( NN executive ) ) ) ) ( PP ( IN of ) ( NP ( NNP Universal-Rundle ) ) ) ) ) ( VP ( MD will ) ( VP ( VB assume ) ( NP ( NP ( DT the ) ( NN title ) ) ( PP ( IN of ) ( NP ( NP ( NN chairman ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( NN unit ) ) ( NP ( DT a ) ( NN vitreous-china ) ( NN maker ) ) ) ) ) ) ) ) ) )

Robert H. Carlson previous president and chief executive of Universal-Rundle will assume the title of chairman of the unit a vitreous-china maker


( S ( NP-SBJ ( NNP MACMILLAN ) ( NNP BLOEDEL ) ( NNP Ltd. ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBD borrowed ) ( NP ( NP ( QP ( CD 215 ) ( CD million ) ) ( JJ Dutch ) ( NNS guilders ) ) ( PRN ( NP ( QP ( CD 102 ) ( CD million ) ) ) ) ) ( PP-CLR ( IN from ) ( NP ( NP ( DT a ) ( NN group ) ) ( PP ( IN of ) ( NP ( JJ Dutch ) ( JJ institutional ) ( NNS investors ) ) ) ) ) ) ) ) ) )

MACMILLAN BLOEDEL Ltd. said it borrowed 215 million Dutch guilders 102 million from a group of Dutch institutional investors


( S ( NP-SBJ ( NP ( NNP MacMillan ) ( NNP Bloedel ) ) ( NP ( DT a ) ( NAC-LOC ( NNP Vancouver ) ( NNP British ) ( NNP Columbia ) ) ( NN forest ) ( NNS products ) ( NN concern ) ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( DT the ) ( ADJP ( CD 8.1 ) ( NN % ) ) ( NN loan ) ) ( VP ( VBZ is ) ( ADJP-PRD ( JJ due ) ( NP-TMP ( NNP Oct. ) ( CD 16 ) ( CD 1996 ) ) ) ) ) ) ) )

MacMillan Bloedel a Vancouver British Columbia forest products concern said the 8.1 % loan is due Oct. 16 1996


( S ( S-TPC-2 ( NP-SBJ-1 ( NNS Funds ) ) ( VP ( MD will ) ( VP ( VB be ) ( VP ( VBN used ) ( S-CLR ( S ( VP ( TO to ) ( VP ( VB repay ) ( NP ( VBG existing ) ( JJ short-term ) ( NN debt ) ) ) ) ) ( CC and ) ( S ( VP ( TO to ) ( VP ( VB finance ) ( NP ( NN capital ) ( NN spending ) ) ) ) ) ) ) ) ) ) ( NP-SBJ ( PRP it ) ) ( VP ( VBD said ) ) )

Funds will be used to repay existing short-term debt and to finance capital spending it said


( S ( NP-SBJ ( NNP Corning ) ( NNP Inc. ) ) ( VP ( VBD posted ) ( NP ( NP ( DT a ) ( ADJP ( CD 38 ) ( NN % ) ) ( NN decline ) ) ( PP-LOC ( IN in ) ( NP ( NN third-quarter ) ( JJ net ) ( NN income ) ) ) ) ( PP-DIR ( TO to ) ( NP ( NP ( QP ( CD 76.5 ) ( CD million ) ) ) ( CC or ) ( NP ( NP ( CD 80 ) ( NNS cents ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ) ( PP-DIR ( IN from ) ( NP ( NP ( QP ( CD 123.9 ) ( CD million ) ) ) ( CC or ) ( NP ( NP ( CD 1.37 ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ( ADVP ( NP ( DT a ) ( NN year ) ) ( RBR earlier ) ) ) ) )

Corning Inc. posted a 38 % decline in third-quarter net income to 76.5 million or 80 cents a share from 123.9 million or 1.37 a share a year earlier


( S ( NP-SBJ ( DT The ) ( JJ year-earlier ) ( NN figure ) ) ( VP ( VBD included ) ( NP ( NP ( DT a ) ( JJ one-time ) ( NN gain ) ) ( PP ( IN of ) ( NP ( QP ( CD 59.9 ) ( CD million ) ) ) ) ( PP ( IN from ) ( NP ( NP ( DT the ) ( NN sale ) ) ( PP ( IN of ) ( NP ( NP ( NP ( NNP Corning ) ( POS 's ) ) ( NNS stakes ) ) ( PP-LOC ( IN in ) ( NP ( JJ Japanese ) ( NNS businesses ) ) ) ) ) ) ) ) ) )

The year-earlier figure included a one-time gain of 59.9 million from the sale of Corning 's stakes in Japanese businesses


( S ( PP ( IN Without ) ( NP ( DT the ) ( NN gain ) ) ) ( NP-SBJ ( VBG operating ) ( NN profit ) ) ( VP ( VBD was ) ( NP-PRD ( NP ( QP ( CD 64 ) ( CD million ) ) ) ( CC or ) ( NP ( NP ( CD 71 ) ( NNS cents ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ) )

Without the gain operating profit was 64 million or 71 cents a share


( S ( NP-SBJ ( DT The ) ( NNS telecommunications ) ( NN specialty ) ( NN glass ) ( JJ ceramic ) ( NNS products ) ( CC and ) ( JJ laboratory-services ) ( NN concern ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( DT the ) ( JJS latest ) ( NN quarter ) ) ( VP ( VBD included ) ( NP ( NP ( DT a ) ( NN tax-loss ) ( NN carry-forward ) ) ( PP ( IN of ) ( NP ( CD 600,000 ) ) ) ) ) ) ) ) )

The telecommunications specialty glass ceramic products and laboratory-services concern said the latest quarter included a tax-loss carry-forward of 600,000


( S ( ADVP-TMP ( NP ( DT A ) ( NN year ) ) ( RBR earlier ) ) ( NP-SBJ ( NN net ) ) ( VP ( VBD included ) ( NP ( DT a ) ( ADJP ( CD 700,000 ) ) ( NN taxlow ) ( NN carry-forward ) ) ) )

A year earlier net included a 700,000 taxlow carry-forward


( S ( NP-SBJ ( NNS Sales ) ) ( VP ( VBD rose ) ( NP-EXT ( CD 14 ) ( NN % ) ) ( PP-DIR ( TO to ) ( NP ( QP ( CD 715 ) ( CD million ) ) ) ) ( PP-DIR ( IN from ) ( NP ( QP ( CD 625.4 ) ( CD million ) ) ) ) ) )

Sales rose 14 % to 715 million from 625.4 million


( S ( NP-SBJ ( NP ( NP ( NNP Corning ) ( POS 's ) ) ( NN chairman ) ( CC and ) ( NN chief ) ( NN executive ) ( NN officer ) ) ( NP ( NNP James ) ( NNP R. ) ( NNP Houghton ) ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ-1 ( VBG operating ) ( NN performance ) ) ( VP ( VBD continued ) ( S ( VP ( TO to ) ( VP ( VB be ) ( ADJP-PRD ( JJ strong ) ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( NNS telecommunications ) ( CC and ) ( NN health ) ( CC and ) ( NN science ) ( NNS segments ) ) ) ) ) ) ) ) ) ) )

Corning 's chairman and chief executive officer James R. Houghton said operating performance continued to be strong in the telecommunications and health and science segments


( S ( CC But ) ( S ( NP-SBJ ( DT the ) ( JJ specialty-material ) ( NN segment ) ) ( VP ( VBD slowed ) ( ADVP ( RB somewhat ) ) ) ) ( CC and ) ( S ( NP-SBJ ( NN consumer ) ( NNS products ) ) ( VP ( VBD continued ) ( PP-LOC-CLR ( IN below ) ( NP ( NNS expectations ) ) ) ) ) )

But the specialty-material segment slowed somewhat and consumer products continued below expectations


( S ( PP ( IN As ) ( PP ( IN for ) ( NP ( JJ joint ) ( NNS ventures ) ) ) ) ( NP-SBJ ( NNP Mr. ) ( NNP Houghton ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( NN profit ) ) ( VP ( VBD was ) ( ADJP-PRD ( RB essentially ) ( JJ flat ) ) ( PP-PRP ( JJ due ) ( ADVP ( RB primarily ) ) ( TO to ) ( NP ( NP ( DT a ) ( JJ slow ) ( NN recovery ) ) ( PP-LOC ( IN at ) ( NP ( NP ( NNP Samsung-Corning ) ( NNP Co. ) ) ( PP-LOC ( IN in ) ( NP ( NNP Korea ) ) ) ) ) ) ) ( PP ( VBG following ) ( NP ( NP ( NP ( DT a ) ( NN strike ) ) ( PP ( IN at ) ( NP ( DT a ) ( JJ major ) ( NN customer ) ) ) ) ( CC and ) ( NP ( NP ( DT the ) ( NN disruption ) ) ( PP ( IN of ) ( NP ( NP ( NNS shipments ) ) ( PP ( TO to ) ( NP ( NNP China ) ) ) ) ) ) ) ) ) ) ) ) )

As for joint ventures Mr. Houghton said profit was essentially flat due primarily to a slow recovery at Samsung-Corning Co. in Korea following a strike at a major customer and the disruption of shipments to China


( S ( ADVP ( RB Also ) ) ( NP-SBJ-1 ( NN profit ) ) ( VP ( VBD was ) ( VP ( VBN hurt ) ( PP ( IN by ) ( NP-LGS ( NP ( NP ( DT the ) ( NN strength ) ) ( PP ( IN of ) ( NP ( DT the ) ( NN dollar ) ) ) ( ADVP-LOC ( NN overseas ) ) ) ( SBAR ( WHNP-2 ( WDT which ) ) ( S ( VP ( ADVP-MNR ( RB negatively ) ) ( VBD affected ) ( NP ( NP ( DT the ) ( NN company ) ( POS 's ) ) ( JJ currency-exchange ) ( NN rate ) ) ) ) ) ) ) ) ) )

Also profit was hurt by the strength of the dollar overseas which negatively affected the company 's currency-exchange rate


( S ( PP-LOC ( IN In ) ( NP ( NNP New ) ( NNP York ) ( NNP Stock ) ( NNP Exchange ) ( JJ composite ) ( NN trading ) ) ) ( NP-SBJ ( NNP Corning ) ) ( VP ( VBD closed ) ( PP-CLR ( IN at ) ( NP ( CD 38.50 ) ) ) ( ADVP ( IN down ) ( NP ( CD 75 ) ( NNS cents ) ) ) ) )

In New York Stock Exchange composite trading Corning closed at 38.50 down 75 cents


( S ( NP-SBJ-1 ( NP ( NNP Paul ) ( NNP Ely ) ) ( NP ( NP ( JJ general ) ( NN partner ) ) ( PP ( IN of ) ( NP ( NP ( NNP Alpha ) ( NNPS Partners ) ) ( NP ( DT a ) ( JJ venture-capital ) ( NN firm ) ) ( VP ( VBN based ) ( PP-LOC-CLR ( IN in ) ( NP ( NP ( NNP Menlo ) ( NNP Park ) ) ( NP ( NNP Calif. ) ) ) ) ) ) ) ) ) ( VP ( VBD was ) ( VP ( VBN named ) ( S ( NP-PRD ( NP ( DT a ) ( NN director ) ) ( PP ( IN of ) ( NP ( DT this ) ( NN computer ) ( NN company ) ) ) ) ) ) ) )

Paul Ely general partner of Alpha Partners a venture-capital firm based in Menlo Park Calif. was named a director of this computer company


( S ( NP-SBJ ( NP ( NNP Mr. ) ( NNP Ely ) ) ( ADJP ( NP ( CD 57 ) ( NNS years ) ) ( JJ old ) ) ) ( ADVP-TMP ( RB temporarily ) ) ( VP ( VBZ increases ) ( NP ( DT the ) ( NN board ) ) ( PP-DIR ( TO to ) ( NP ( CD seven ) ( NNS members ) ) ) ) )

Mr. Ely 57 years old temporarily increases the board to seven members


( S ( ADVP ( RB However ) ) ( NP-SBJ ( NN director ) ( NNP Thomas ) ( NNP O'Rourke ) ) ( VP ( VBZ has ) ( VP ( VBN said ) ( SBAR ( S ( NP-SBJ ( PRP he ) ) ( VP ( MD wo ) ( RB n't ) ( VP ( VB seek ) ( NP ( NN re-election ) ) ( PP-LOC ( IN at ) ( NP ( NP ( DT the ) ( NN company ) ( POS 's ) ) ( JJ annual ) ( NN meeting ) ) ) ( NP-TMP ( IN next ) ( NN month ) ) ) ) ) ) ) ) )

However director Thomas O'Rourke has said he wo n't seek re-election at the company 's annual meeting next month


( S ( PP-LOC ( IN In ) ( NP ( NP ( DT a ) ( NN move ) ) ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( VP ( MD could ) ( VP ( VB pose ) ( NP ( DT a ) ( JJ new ) ( JJ competitive ) ( NN challenge ) ) ( PP-CLR ( TO to ) ( NP ( NP ( NNP Time ) ( NNP Warner ) ( NNP Inc. ) ( POS 's ) ) ( JJ powerful ) ( NNP Home ) ( NNP Box ) ( NNP Office ) ) ) ) ) ) ) ) ) ( NP-SBJ-2 ( NN cable ) ( NN giant ) ( NNPS Tele-Communications ) ( NNP Inc. ) ) ( VP ( VBD agreed ) ( S ( VP ( TO to ) ( VP ( VB buy ) ( NP ( NP ( DT half ) ) ( PP ( IN of ) ( NP ( NNP Showtime ) ( NNPS Networks ) ( NNP Inc. ) ) ) ) ( PP-CLR ( IN from ) ( NP ( NNP Viacom ) ( NNP Inc. ) ) ) ( PP ( IN for ) ( NP ( QP ( CD 225 ) ( CD million ) ) ) ) ) ) ) ) )

In a move that could pose a new competitive challenge to Time Warner Inc. 's powerful Home Box Office cable giant Tele-Communications Inc. agreed to buy half of Showtime Networks Inc. from Viacom Inc. for 225 million


( S ( NP-SBJ ( DT The ) ( NN purchase ) ) ( VP ( VBZ comes ) ( PP-TMP ( IN after ) ( NP ( NP ( RB nearly ) ( CD three ) ( NNS years ) ) ( PP ( IN of ) ( NP ( NP ( JJ on-again ) ( JJ off-again ) ( NNS talks ) ) ( PP ( IN between ) ( NP ( NP ( NNP TCI ) ) ( CC and ) ( NP ( NP ( NNP Viacom ) ) ( SBAR ( WHNP-1 ( WDT which ) ) ( S ( VP ( VBZ has ) ( ADVP ( RB also ) ) ( VP ( VBN discussed ) ( NP ( NP ( DT the ) ( NN sale ) ) ( PP ( IN of ) ( NP ( NP ( DT an ) ( NN interest ) ) ( PP-LOC ( IN in ) ( NP ( NNP Showtime ) ) ) ) ) ) ( PP-CLR ( IN with ) ( NP ( JJ other ) ( NN cable ) ( NNS operators ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

The purchase comes after nearly three years of on-again off-again talks between TCI and Viacom which has also discussed the sale of an interest in Showtime with other cable operators


( S ( NP-SBJ ( NNP Showtime ) ) ( VP ( VP ( VBZ is ) ( NP-PRD ( NP ( DT a ) ( JJ distant ) ( NN No. ) ( CD 2 ) ) ( PP ( TO to ) ( NP ( NNP Home ) ( NNP Box ) ( NNP Office ) ) ) ) ) ( CC and ) ( VP ( PP-TMP ( IN in ) ( NP ( NNP May ) ) ) ( VBD filed ) ( NP ( DT a ) ( ADJP ( QP ( CD 2.5 ) ( CD billion ) ) ) ( JJ antitrust ) ( NN suit ) ) ( PP-CLR ( IN against ) ( NP ( NNP Time ) ( NNP Warner ) ) ) ( S-SBJ ( VP ( VBG charging ) ( NP ( NP ( DT the ) ( NN company ) ) ( CC and ) ( NP ( PRP$ its ) ( NNP HBO ) ( CC and ) ( NNP American ) ( NNP Television ) ( NN cable ) ( NNS units ) ) ) ( PP-CLR ( IN with ) ( S-NOM ( VP ( VBG conspiring ) ( S ( VP ( TO to ) ( VP ( VB monopolize ) ( NP ( DT the ) ( NN pay ) ( NN TV ) ( NN business ) ) ) ) ) ) ) ) ) ) ) ) )

Showtime is a distant No. 2 to Home Box Office and in May filed a 2.5 billion antitrust suit against Time Warner charging the company and its HBO and American Television cable units with conspiring to monopolize the pay TV business


( S ( NP-SBJ ( NNP HBO ) ) ( VP ( VBZ has ) ( NP ( NP ( QP ( RB close ) ( TO to ) ( CD 24 ) ( CD million ) ) ( NNS subscribers ) ) ( PP ( TO to ) ( NP ( PRP$ its ) ( NNP HBO ) ( CC and ) ( NNP Cinemax ) ( NNS networks ) ) ) ) ( SBAR-ADV ( IN while ) ( S ( NP-SBJ ( NP ( NNP Showtime ) ) ( CC and ) ( NP ( NP ( PRP$ its ) ( NN sister ) ( NN service ) ) ( NP ( NNP The ) ( NNP Movie ) ( NNP Channel ) ) ) ) ( VP ( VBP have ) ( NP ( QP ( RB only ) ( IN about ) ( CD 10 ) ) ( CD million ) ) ) ) ) ( PP ( VBG according ) ( PP ( TO to ) ( NP ( NP ( NNP Paul ) ( NNP Kagan ) ( NNPS Associates ) ) ( NP ( DT a ) ( NAC-LOC ( NNP Carmel ) ( NNP Calif. ) ) ( NN research ) ( NN firm ) ) ) ) ) ) )

HBO has close to 24 million subscribers to its HBO and Cinemax networks while Showtime and its sister service The Movie Channel have only about 10 million according to Paul Kagan Associates a Carmel Calif. research firm


( S ( PP ( IN For ) ( NP ( NNP TCI ) ) ) ( NP-SBJ ( NP ( DT the ) ( NN investment ) ) ( PP-LOC ( IN in ) ( NP ( NNP Showtime ) ) ) ) ( VP ( VBZ puts ) ( NP ( PRP it ) ) ( PP-PUT ( IN in ) ( NP ( NP ( DT an ) ( JJ unusual ) ( NN position ) ) ) ) ( S ( PP ( IN as ) ( NP ( NP ( DT the ) ( JJS largest ) ( NN cable ) ( NN operator ) ) ( PP ( IN with ) ( NP ( NP ( NN control ) ) ( PP ( IN of ) ( NP ( NP ( QP ( NN close ) ( TO to ) ( CD 12 ) ( CD million ) ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( NN nation ) ( POS 's ) ) ( QP ( CD 52 ) ( CD million ) ) ( NN cable ) ( NNS subscribers ) ) ) ) ) ) ) ) ) ( NP-SBJ ( NNP TCI ) ) ( VP ( VBZ is ) ( NP-PRD ( NP ( NNP HBO ) ( POS 's ) ) ( JJS largest ) ( NN customer ) ) ) ) ) )

For TCI the investment in Showtime puts it in an unusual position as the largest cable operator with control of close to 12 million of the nation 's 52 million cable subscribers TCI is HBO 's largest customer


( S ( CC But ) ( NP-SBJ ( NNP TCI ) ( NNP President ) ( NNP John ) ( NNP Malone ) ) ( VP ( VP ( VBZ has ) ( ADVP-TMP ( RB long ) ) ( VP ( VBN been ) ( VP ( VBN concerned ) ( PP-CLR ( IN about ) ( NP ( NP ( NP ( NNP HBO ) ( POS 's ) ) ( NN dominance ) ) ( PP ( IN of ) ( NP ( DT the ) ( NN pay ) ( NN TV ) ( NN business ) ) ) ) ) ) ) ) ( CC and ) ( VP ( VBZ has ) ( VP ( VBN been ) ( ADJP-PRD ( JJ eager ) ( S ( VP ( TO to ) ( VP ( VB keep ) ( NP ( NNP Showtime ) ) ( PP-CLR ( IN as ) ( NP ( DT a ) ( JJ healthy ) ( NN competitor ) ) ) ) ) ) ) ) ) ) )

But TCI President John Malone has long been concerned about HBO 's dominance of the pay TV business and has been eager to keep Showtime as a healthy competitor


( S ( S-TPC-2 ( NP-SBJ ( NP ( PRP It ) ) ) ( VP ( VBZ is ) ( ADJP-PRD ( JJ important ) ( PP ( TO to ) ( NP ( DT the ) ( NN cable ) ( NN industry ) ) ) ) ( SBAR-1 ( IN that ) ( S ( NP-SBJ ( PRP we ) ) ( VP ( VBP have ) ( NP ( DT a ) ( JJ vibrant ) ( CC and ) ( JJ competitive ) ( NN pay-television ) ( NN marketplace ) ) ) ) ) ) ) ( NP-SBJ ( NNP Mr. ) ( NNP Malone ) ) ( VP ( VBD said ) ( PP-LOC ( IN in ) ( NP ( DT a ) ( NN statement ) ) ) ) )

It is important to the cable industry that we have a vibrant and competitive pay-television marketplace Mr. Malone said in a statement


( S ( PP-LOC ( IN In ) ( NP ( DT a ) ( NN telephone ) ( NN interview ) ) ) ( NP-SBJ ( NP ( NNP Robert ) ( NNP Thomson ) ) ( NP ( NNP TCI ) ( JJ senior ) ( NN vice ) ( NN president ) ) ) ( VP ( VBD said ) ( SBAR ( S ( S ( NP-SBJ ( NP ( NP ( NNP Showtime ) ( POS 's ) ) ( NN suit ) ) ( PP ( IN against ) ( NP ( NNP HBO ) ) ) ) ( VP ( VBZ does ) ( RB n't ) ( VP ( VB involve ) ( NP ( PRP us ) ) ) ) ) ( CC and ) ( S ( NP-SBJ ( NP ( NN nothing ) ) ( SBAR ( S ( NP-SBJ ( PRP we ) ) ( VP ( VBP 're ) ( VP ( VBG doing ) ( ADVP-LOC ( RB here ) ) ) ) ) ) ) ( VP ( VBZ bears ) ( NP ( DT any ) ( NN relationship ) ) ( PP-CLR ( TO to ) ( NP ( DT that ) ) ) ) ) ) ) ) )

In a telephone interview Robert Thomson TCI senior vice president said Showtime 's suit against HBO does n't involve us and nothing we 're doing here bears any relationship to that


( S ( NP-SBJ ( PRP He ) ) ( VP ( VBD added ) ( S ( NP-SBJ-2 ( PRP We ) ) ( VP ( VBP do ) ( RB n't ) ( VP ( VB intend ) ( S ( VP ( TO to ) ( VP ( VB be ) ( VP ( VBN drawn ) ( PP-DIR ( IN into ) ( NP ( PRP it ) ) ) ) ) ) ) ) ) ) ( S-ADV ( VP ( VBG noting ) ( SBAR ( IN that ) ( S ( NP-SBJ ( NNP TCI ) ) ( VP ( MD wo ) ( RB n't ) ( VP ( VB play ) ( NP ( DT any ) ( JJ active ) ( NN role ) ) ( PP-LOC ( IN in ) ( NP ( NP ( DT the ) ( NN management ) ) ( PP ( IN of ) ( NP ( NNP Showtime ) ) ) ) ) ) ) ) ) ) ) ) )

He added We do n't intend to be drawn into it noting that TCI wo n't play any active role in the management of Showtime


( S ( S-NOM-SBJ ( VP ( VBG Linking ) ( PRT ( RP up ) ) ( NP ( NNP Showtime ) ) ( PP-CLR ( IN with ) ( NP ( NP ( DT the ) ( JJS largest ) ( NN cable ) ( NN operator ) ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( NNP U.S. ) ) ) ) ) ) ) ( VP ( MD could ) ( VP ( ADVP-MNR ( RB sharply ) ) ( VB boost ) ( NP ( PRP$ its ) ( NNS subscribers ) ) ) ) )

Linking up Showtime with the largest cable operator in the U.S. could sharply boost its subscribers


( S ( NP-SBJ ( NNP TCI ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( PRP it ) ) ( VP ( MD may ) ( VP ( VP ( VB bring ) ( ADVP-CLR ( RB in ) ) ( NP ( JJ other ) ( NN cable ) ( NNS operators ) ) ( PP-CLR ( IN as ) ( NP ( NNS investors ) ) ) ) ( NP ( NP ( DT a ) ( NN practice ) ) ( SBAR ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBZ has ) ( VP ( VBN employed ) ( PP-TMP ( IN in ) ( NP ( DT the ) ( NN past ) ) ) ( PP ( IN with ) ( NP ( NP ( NNS investments ) ) ( PP-LOC ( IN in ) ( NP ( NP ( JJ other ) ( NN cable ) ( NNS networks ) ) ( PP ( JJ such ) ( IN as ) ( NP ( NNP The ) ( NNP Discovery ) ( NNP Channel ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

TCI said it may bring in other cable operators as investors a practice it has employed in the past with investments in other cable networks such as The Discovery Channel


( S ( NP-SBJ ( JJ Additional ) ( NN cable ) ( NNS partners ) ) ( VP ( MD could ) ( VP ( VB boost ) ( NP ( NNS subscribers ) ) ( ADVP ( RB even ) ( RB further ) ) ) ) )

Additional cable partners could boost subscribers even further


( S ( NP-SBJ ( NNP Time ) ( NNP Warner ) ) ( VP ( VBD declined ) ( NP ( NN comment ) ) ) )

Time Warner declined comment


( S ( PP ( IN In ) ( NP ( NP ( NN addition ) ) ( PP ( TO to ) ( S-NOM ( VP ( VBG owning ) ( NP ( NNP HBO ) ) ) ) ) ) ) ( NP-SBJ-1 ( NNP Time ) ( NNP Warner ) ) ( VP ( VBZ owns ) ( NP ( NP ( NNP American ) ( NNP Television ) ( CC & ) ( NNPS Communications ) ( NNP Inc. ) ) ( NP ( NP ( NP ( DT the ) ( NN nation ) ( POS 's ) ) ( JJ second ) ( JJS largest ) ( NN cable ) ( NN operator ) ) ( PP ( IN after ) ( NP ( NNP TCI ) ) ) ) ) ) )

In addition to owning HBO Time Warner owns American Television & Communications Inc. the nation 's second largest cable operator after TCI


( S ( S ( NP-SBJ ( NNP Viacom ) ) ( ADVP ( RB also ) ) ( VP ( VBZ owns ) ( NP ( NN cable ) ( NNS systems ) ) ) ) ( CC but ) ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBZ is ) ( NP-PRD ( NP ( NP ( DT the ) ( JJ 14th ) ( JJS largest ) ( NN operator ) ) ( PP ( IN of ) ( NP ( JJ such ) ( NNS systems ) ) ) ) ( PP ( IN with ) ( NP ( QP ( RBR less ) ( IN than ) ( CD one ) ( CD million ) ) ( NNS subscribers ) ) ) ) ) ) )

Viacom also owns cable systems but it is the 14th largest operator of such systems with less than one million subscribers


( S ( NP-SBJ ( DT The ) ( NNP TCI ) ( NN investment ) ) ( VP ( VBZ is ) ( NP-PRD ( NP ( DT a ) ( JJ big ) ( NN victory ) ) ( PP ( IN for ) ( NP ( NP ( NP ( NP ( NNP Viacom ) ( POS 's ) ) ( NN chief ) ( NN executive ) ( NN officer ) ) ( NP ( NNP Frank ) ( NNP Biondi ) ) ) ( CC and ) ( NP ( NP ( NNP Winston ) ( NNP H. ) ( NNP Cox ) ) ( NP ( NP ( NN president ) ) ( PP ( IN of ) ( NP ( DT the ) ( NNP Showtime ) ( NN unit ) ) ) ) ) ) ) ) ) )

The TCI investment is a big victory for Viacom 's chief executive officer Frank Biondi and Winston H. Cox president of the Showtime unit


( S ( S-TPC-1 ( NP-SBJ ( DT This ) ) ( VP ( VP ( VBZ takes ) ( NP ( NP ( DT any ) ( NN question ) ) ( PP ( IN of ) ( NP ( NP ( NNP Showtime ) ( POS 's ) ) ( NN viability ) ) ) ) ) ( CC and ) ( VP ( VBZ puts ) ( NP ( PRP it ) ) ( ADVP-PUT ( RB away ) ) ( UCP-ADV ( ADVP ( RB once ) ) ( CC and ) ( PP ( IN for ) ( NP ( DT all ) ) ) ) ) ) ) ( NP-SBJ ( NNP Mr. ) ( NNP Biondi ) ) ( VP ( VBD said ) ( PP-LOC ( IN in ) ( NP ( DT a ) ( NN telephone ) ( NN interview ) ) ) ) )

This takes any question of Showtime 's viability and puts it away once and for all Mr. Biondi said in a telephone interview


( S ( NP-SBJ ( NP ( DT The ) ( NN fight ) ) ( PP ( IN between ) ( NP ( NP ( NNP HBO ) ) ( CC and ) ( NP ( NNP Showtime ) ) ) ) ) ( VP ( VBZ is ) ( ADJP-PRD ( RB particularly ) ( JJ acrimonious ) ) ( SBAR-PRP ( IN because ) ( S ( S ( NP-SBJ ( NNP Mr. ) ( NNP Biondi ) ) ( VP ( VBZ is ) ( NP-PRD ( NP ( DT the ) ( JJ former ) ( NN chief ) ( NN executive ) ) ( PP ( IN of ) ( NP ( NNP HBO ) ) ) ) ) ) ( CC and ) ( S ( NP-SBJ ( NNP Mr. ) ( NNP Cox ) ) ( VP ( VBD served ) ( PP-CLR ( IN as ) ( NP ( NP ( NN chief ) ) ( PP ( IN of ) ( NP ( NN marketing ) ) ) ) ) ( PP ( IN for ) ( NP ( DT the ) ( NN service ) ) ) ) ) ) ) ) )

The fight between HBO and Showtime is particularly acrimonious because Mr. Biondi is the former chief executive of HBO and Mr. Cox served as chief of marketing for the service


( S ( NP-SBJ ( PRP They ) ) ( VP ( VBD were ) ( ADVP ( DT both ) ) ( VP ( VBN hired ) ( PP ( IN by ) ( NP-LGS ( NP ( NNP Sumner ) ( NNP Redstone ) ) ( NP ( NP ( DT the ) ( NNP Boston ) ( NN billionaire ) ) ( SBAR ( WHNP-1 ( WP who ) ) ( S ( VP ( VBD took ) ( NP ( NP ( NN control ) ) ( PP ( IN of ) ( NP ( NNP Viacom ) ) ) ) ( ADVP-TMP ( NP ( CD three ) ( NNS years ) ) ( IN ago ) ) ( PP-LOC ( IN in ) ( NP ( DT a ) ( JJ leveraged ) ( NN buy-out ) ) ) ) ) ) ) ) ) ) ) )

They were both hired by Sumner Redstone the Boston billionaire who took control of Viacom three years ago in a leveraged buy-out


( S ( NP-SBJ ( NNP Time ) ( NNP Warner ) ) ( VP ( VBZ has ) ( VP ( ADVP-MNR ( RB vigorously ) ) ( VBN denied ) ( NP ( NP ( DT all ) ) ( PP ( IN of ) ( NP ( NP ( NNP Viacom ) ( POS 's ) ) ( NNS allegations ) ) ) ) ) ) )

Time Warner has vigorously denied all of Viacom 's allegations


( S ( NP-SBJ ( NNS Arbitragers ) ) ( VP ( VBD were ) ( RB n't ) ( NP-PRD ( DT the ) ( JJ only ) ( JJ big ) ( NNS losers ) ) ( PP-LOC ( IN in ) ( NP ( NP ( DT the ) ( NN collapse ) ) ( PP ( IN of ) ( NP ( NNP UAL ) ( NNP Corp. ) ( NN stock ) ) ) ) ) ) )

Arbitragers were n't the only big losers in the collapse of UAL Corp. stock


( S ( VP ( VB Look ) ( PP-CLR ( IN at ) ( SBAR-NOM ( WHNP-1 ( WP what ) ) ( S ( VP ( VBD happened ) ( PP-CLR ( TO to ) ( NP ( NP ( NP ( NP ( NNP UAL ) ( POS 's ) ) ( NN chairman ) ) ( NP ( NNP Stephen ) ( NNP M. ) ( NNP Wolf ) ) ) ( CC and ) ( NP ( NP ( PRP$ its ) ( NN chief ) ( JJ financial ) ( NN officer ) ) ( NP ( NNP John ) ( NNP C. ) ( NNP Pope ) ) ) ) ) ) ) ) ) ) )

Look at what happened to UAL 's chairman Stephen M. Wolf and its chief financial officer John C. Pope


( S ( PP-TMP ( IN On ) ( NP ( NP ( DT a ) ( NN day ) ) ( SBAR ( S ( S ( NP-SBJ ( DT some ) ( NNP United ) ( NNPS Airlines ) ( NNS employees ) ) ( VP ( VBD wanted ) ( S ( NP-SBJ-2 ( NNP Mr. ) ( NNP Wolf ) ) ( VP ( VBD fired ) ) ) ) ) ( CC and ) ( S ( NP-SBJ ( NN takeover ) ( NN stock ) ( NNS speculators ) ) ( VP ( VBD wanted ) ( NP ( PRP$ his ) ( NN scalp ) ) ) ) ) ) ) ) ( NP-SBJ ( NNP Messrs. ) ( NNP Wolf ) ( CC and ) ( NNP Pope ) ) ( VP ( VBD saw ) ( S ( NP-SBJ-3 ( PRP$ their ) ( JJ prospective ) ( JJ personal ) ( NNS fortunes ) ) ( VP ( VB continue ) ( S ( VP ( TO to ) ( VP ( VB plummet ) ) ) ) ) ) ( SBAR-TMP-5 ( IN as ) ( S ( NP-SBJ-4 ( NP ( NNS shares ) ) ( PP ( IN of ) ( NP ( NP ( NNP UAL ) ) ( NP ( NP ( NNP United ) ( POS 's ) ) ( NN parent ) ( NN company ) ) ) ) ) ( VP ( VBD dived ) ( NP-EXT ( CD 24.875 ) ) ( PP-LOC ( IN on ) ( NP ( DT the ) ( NNP Big ) ( NNP Board ) ) ) ( S-CLR ( VP ( TO to ) ( VP ( VB close ) ( PP-CLR ( IN at ) ( NP ( CD 198 ) ) ) ) ) ) ) ) ) ) )

On a day some United Airlines employees wanted Mr. Wolf fired and takeover stock speculators wanted his scalp Messrs. Wolf and Pope saw their prospective personal fortunes continue to plummet as shares of UAL United 's parent company dived 24.875 on the Big Board to close at 198


( S ( PP ( NNP Including ) ( NP ( NP ( NNP Monday ) ( POS 's ) ) ( NN plunge ) ) ) ( NP-SBJ ( WDT that ) ) ( VP ( VBZ has ) ( VP ( VBN given ) ( NP ( DT the ) ( CD two ) ( NNS executives ) ) ( NP ( NP ( NP ( NN paper ) ( NNS losses ) ) ( PP ( IN of ) ( NP ( QP ( CD 49.5 ) ( CD million ) ) ) ) ) ( VP ( VBN based ) ( PP-LOC-CLR ( IN on ) ( SBAR ( WHNP-1 ( WP what ) ) ( S ( NP-SBJ ( PRP they ) ) ( VP ( MD would ) ( VP ( VB have ) ( VP ( VBN realized ) ( SBAR ( SINV ( VBD had ) ( NP-SBJ ( NP ( DT the ) ( NNS pilots ) ( CC and ) ( JJ management-led ) ( NN buy-out ) ) ( PP ( IN of ) ( NP ( NNP UAL ) ) ) ) ( VP ( VBN gone ) ( ADVP-CLR ( RB through ) ) ( PP ( IN at ) ( NP ( NP ( CD 300 ) ) ( NP-SBJ ( DT a ) ( NN share ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Including Monday 's plunge that has given the two executives paper losses of 49.5 million based on what they would have realized had the pilots and management-led buy-out of UAL gone through at 300 a share


( SINV ( SBAR-ADV ( WHADVP-1 ( WRB When ) ) ( S ( NP-SBJ ( NP ( NN bank ) ( NN financing ) ) ( PP ( IN for ) ( NP ( DT the ) ( NN buy-out ) ) ) ) ( VP ( VBD collapsed ) ( NP-TMP ( JJ last ) ( NN week ) ) ) ) ) ( ADVP-CLR ( RB so ) ) ( VBD did ) ( NP-SBJ ( NP ( NNP UAL ) ( POS 's ) ) ( NN stock ) ) )

When bank financing for the buy-out collapsed last week so did UAL 's stock


( S ( SBAR-ADV ( ADVP ( RB Even ) ) ( IN if ) ( S ( NP-SBJ ( DT the ) ( NNS banks ) ) ( VP ( VBP resurrect ) ( NP ( DT a ) ( VBG financing ) ( NN package ) ) ( PP ( IN at ) ( NP ( NP ( CD 250 ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ) ) ) ( NP-SBJ ( DT the ) ( CD two ) ( NNS executives ) ) ( VP ( MD would ) ( ADVP-TMP ( RB still ) ) ( VP ( VB get ) ( NP ( NP ( NP ( QP ( IN about ) ( CD 25 ) ( CD million ) ) ) ( JJR less ) ) ( SBAR ( IN than ) ( SBAR-NOM ( S ( NP-SBJ-1 ( PRP they ) ) ( VP ( VBD stood ) ( S ( VP ( TO to ) ( VP ( VB gain ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( JJ initial ) ( NN transaction ) ) ) ) ) ) ) ) ) ) ) ) ) )

Even if the banks resurrect a financing package at 250 a share the two executives would still get about 25 million less than they stood to gain in the initial transaction


( S ( NP-SBJ ( NNP Mr. ) ( NNP Wolf ) ) ( VP ( VP ( VBZ owns ) ( NP ( CD 75,000 ) ( NNP UAL ) ( NNS shares ) ) ) ( CC and ) ( VP ( VBZ has ) ( NP ( NNS options ) ( S ( VP ( TO to ) ( VP ( VB buy ) ( NP ( DT another ) ( CD 250,000 ) ) ( PP ( IN at ) ( NP ( NP ( CD 83.3125 ) ) ( NP-ADV ( DT each ) ) ) ) ) ) ) ) ) ) )

Mr. Wolf owns 75,000 UAL shares and has options to buy another 250,000 at 83.3125 each


( S ( PP-LOC ( IN In ) ( NP ( DT the ) ( ADJP ( JJ 300-a-share ) ) ( NN buyout ) ) ) ( NP-SBJ ( WDT that ) ) ( VP ( VBD totaled ) ( NP ( QP ( IN about ) ( CD 76.7 ) ( CD million ) ) ) ) )

In the 300-a-share buyout that totaled about 76.7 million


( S ( PP-TMP ( IN By ) ( NP ( NP ( NP ( NN yesterday ) ( POS 's ) ) ( NN close ) ) ( PP ( IN of ) ( NP ( NN trading ) ) ) ) ) ( NP-SBJ ( PRP it ) ) ( VP ( VBD was ) ( ADJP-PRD ( JJ good ) ( PP ( IN for ) ( NP ( DT a ) ( JJ paltry ) ( QP ( CD 43.5 ) ( CD million ) ) ) ) ) ) )

By yesterday 's close of trading it was good for a paltry 43.5 million


( S ( PP ( IN Of ) ( NP ( NN course ) ) ) ( NP-SBJ ( NP ( NNP Mr. ) ( NNP Wolf ) ) ( ADJP ( NP ( CD 48 ) ( NNS years ) ) ( JJ old ) ) ) ( VP ( VBZ has ) ( NP ( DT some ) ( NNS savings ) ) ) )

Of course Mr. Wolf 48 years old has some savings


( S ( S ( NP-SBJ ( PRP He ) ) ( VP ( VBD left ) ( NP ( NP ( PRP$ his ) ( JJ last ) ( CD two ) ( NNS jobs ) ) ( PP-LOC ( IN at ) ( NP ( NP ( NNP Republic ) ( NNPS Airlines ) ) ( CC and ) ( NP ( NNP Flying ) ( NNP Tiger ) ) ) ) ) ( PP ( IN with ) ( NP ( NP ( VBN combined ) ( NN stock-option ) ( NNS gains ) ) ( PP ( IN of ) ( NP ( QP ( IN about ) ( CD 22 ) ( CD million ) ) ) ) ) ) ) ) ( CC and ) ( S ( NP-SBJ ( NNP UAL ) ) ( VP ( VBD gave ) ( NP ( PRP him ) ) ( NP ( DT a ) ( ADJP ( CD 15 ) ( CD million ) ) ( NN bonus ) ) ( SBAR-TMP ( WHADVP-1 ( WRB when ) ) ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBD hired ) ( NP ( PRP him ) ) ) ) ) ) ) )

He left his last two jobs at Republic Airlines and Flying Tiger with combined stock-option gains of about 22 million and UAL gave him a 15 million bonus when it hired him


( S ( NP-SBJ ( PRP$ His ) ( CD 1988 ) ( NN salary ) ) ( VP ( VBD was ) ( NP-PRD ( NP ( CD 575,000 ) ) ( PP ( IN with ) ( NP ( DT a ) ( ADJP ( CD 575,000 ) ) ( NN bonus ) ) ) ) ) )

His 1988 salary was 575,000 with a 575,000 bonus


( S ( NP-SBJ-1 ( DT The ) ( ADJP ( JJ 40-year ) ( JJ old ) ) ( NNP Mr. ) ( NNP Pope ) ) ( VP ( VBZ has ) ( RB n't ) ( VP ( VBN changed ) ( NP ( NNS jobs ) ) ( ADVP ( RB enough ) ( PRN ( NP ( PP ( IN at ) ( ADJP ( JJS least ) ) ) ( DT the ) ( JJ right ) ( NNS ones ) ) ) ( S ( VP ( TO to ) ( VP ( VB stash ) ( ADVP ( RB away ) ) ( NP ( NP ( DT that ) ( NN kind ) ) ( PP ( IN of ) ( NP ( NN money ) ) ) ) ) ) ) ) ) ) )

The 40-year old Mr. Pope has n't changed jobs enough at least the right ones to stash away that kind of money


( S ( S ( NP-SBJ-3 ( NNP United ) ) ( VP ( VBD paid ) ( NP ( PRP him ) ) ( NP ( DT a ) ( ADJP ( CD 375,000 ) ) ( NN bonus ) ) ( S-PRP ( VP ( TO to ) ( VP ( VB lure ) ( NP ( PRP him ) ) ( PP-DIR ( RB away ) ( PP ( IN from ) ( NP ( NNP American ) ( NNPS Airlines ) ) ) ) ) ) ) ) ) ( CC and ) ( S ( NP-SBJ-2 ( PRP he ) ) ( VP ( VBD was ) ( VP ( VBN paid ) ( NP ( NP ( DT a ) ( NN salary ) ) ( PP ( IN of ) ( NP ( CD 342,122 ) ) ) ) ( NP-TMP ( JJ last ) ( NN year ) ) ( PP-1 ( IN with ) ( NP ( DT a ) ( ADJP ( CD 280,000 ) ) ( NN bonus ) ) ) ) ) ) )

United paid him a 375,000 bonus to lure him away from American Airlines and he was paid a salary of 342,122 last year with a 280,000 bonus


( S ( NP-SBJ ( NNP Mr. ) ( NNP Pope ) ) ( VP ( VP ( VBZ owns ) ( NP ( CD 10,000 ) ( NNP UAL ) ( NNS shares ) ) ) ( CC and ) ( VP ( VBZ has ) ( NP ( NNS options ) ( S ( VP ( TO to ) ( VP ( VB buy ) ( NP ( DT another ) ( CD 150,000 ) ) ( PP ( IN at ) ( NP ( NP ( CD 69 ) ) ( NP-ADV ( DT each ) ) ) ) ) ) ) ) ) ) )

Mr. Pope owns 10,000 UAL shares and has options to buy another 150,000 at 69 each


( S ( NP-SBJ ( DT That ) ) ( VP ( VBD came ) ( PP-DIR ( TO to ) ( NP ( NP ( NP ( DT a ) ( VBN combined ) ( QP ( CD 37.7 ) ( CD million ) ) ) ( PP-LOC ( IN under ) ( NP ( DT the ) ( ADJP ( JJ 300-a-share ) ) ( NN buy-out ) ) ) ) ( CC but ) ( NP ( NP ( RB just ) ( QP ( CD 21.3 ) ( CD million ) ) ) ( PP-TMP ( IN at ) ( NP ( NP ( NN yesterday ) ( POS 's ) ) ( NN close ) ) ) ) ) ) ) )

That came to a combined 37.7 million under the 300-a-share buy-out but just 21.3 million at yesterday 's close


( S ( PP-TPC-5 ( IN Of ) ( NP ( NP ( DT the ) ( VBN combined ) ( QP ( CD 114.4 ) ( CD million ) ) ) ( SBAR ( S ( NP-SBJ-1 ( DT the ) ( CD two ) ( NNS men ) ) ( VP ( VBD were ) ( VP ( VBN scheduled ) ( S ( VP ( TO to ) ( VP ( VB reap ) ( PP-LOC ( IN under ) ( NP ( DT the ) ( NN buy-out ) ) ) ) ) ) ) ) ) ) ) ) ( NP-SBJ-3 ( PRP they ) ) ( VP ( VBD agreed ) ( S ( VP ( TO to ) ( VP ( VB invest ) ( PP-LOC-CLR ( IN in ) ( NP ( DT the ) ( NN buy-out ) ) ) ( NP ( NP ( QP ( RB just ) ( CD 15 ) ( CD million ) ) ) ) ) ) ) ( S-ADV ( VP ( VBG angering ) ( NP ( NP ( JJ many ) ) ( PP ( IN of ) ( NP ( NP ( NP ( DT the ) ( NNS thousands ) ) ( PP ( IN of ) ( NP ( NNS workers ) ) ) ) ( VP ( VBD asked ) ( S ( VP ( TO to ) ( VP ( VB make ) ( NP ( NN pay ) ( NNS concessions ) ) ) ) ) ( SBAR-PRP ( IN so ) ( S ( NP-SBJ ( DT the ) ( NN buy-out ) ) ( VP ( MD would ) ( VP ( VB be ) ( NP-PRD ( DT a ) ( NN success ) ) ) ) ) ) ) ) ) ) ) ) ) )

Of the combined 114.4 million the two men were scheduled to reap under the buy-out they agreed to invest in the buy-out just 15 million angering many of the thousands of workers asked to make pay concessions so the buy-out would be a success


( S ( NP-SBJ ( NP ( NNP United ) ( POS 's ) ) ( NNS directors ) ) ( VP ( VBD voted ) ( NP ( NP ( PRP themselves ) ) ( CC and ) ( NP ( PRP$ their ) ( NNS spouses ) ) ) ( NP ( NP ( NP ( NP ( NN lifetime ) ( NN access ) ) ( PP ( TO to ) ( NP ( DT the ) ( NNP Friendly ) ( NNPS Skies ) ) ) ) ( PRN ( NP ( JJ free ) ( JJ first-class ) ( NN travel ) ) ) ) ( CC and ) ( NP ( NP ( CD 20,000 ) ) ( NP-ADV ( DT a ) ( NN year ) ) ( PP ( IN for ) ( NP ( NN life ) ) ) ( ADVP ( RB as ) ( RB well ) ) ) ) ) )

United 's directors voted themselves and their spouses lifetime access to the Friendly Skies free first-class travel and 20,000 a year for life as well


( S ( ADVP ( RB Conceivably ) ) ( PP-LOC ( IN in ) ( NP ( DT a ) ( JJ scaled-back ) ( NN buy-out ) ) ) ( NP-SBJ-1 ( PRP they ) ) ( VP ( MD could ) ( VP ( VB be ) ( VP ( VBN bumped ) ( ADVP-DIR ( RB back ) ) ( PP-CLR ( TO to ) ( NP ( NP ( NN coach ) ( NNS seats ) ) ( PP ( IN for ) ( NP ( NN life ) ) ) ) ) ) ) ) )

Conceivably in a scaled-back buy-out they could be bumped back to coach seats for life


( S ( NP-SBJ ( DT The ) ( VBG following ) ( NNS issues ) ) ( VP ( VBD were ) ( ADVP-TMP ( RB recently ) ) ( VP ( VBN filed ) ( PP-LOC-CLR ( IN with ) ( NP ( DT the ) ( NNPS Securities ) ( CC and ) ( NNP Exchange ) ( NNP Commission ) ) ) ) ) )

The following issues were recently filed with the Securities and Exchange Commission


( NP-HLN ( NP ( NP ( NP ( NNP Canada ) ( POS 's ) ) ( NNP Province ) ) ( PP ( IN of ) ( NP ( NNP Nova ) ( NNP Scotia ) ) ) ) ( NP ( NP ( NN shelf ) ( NN offering ) ) ( PP ( IN of ) ( NP ( NP ( QP ( IN up ) ( TO to ) ( CD 550 ) ( CD million ) ) ) ( PP ( IN of ) ( NP ( NNS debentures ) ) ) ) ) ) )

Canada 's Province of Nova Scotia shelf offering of up to 550 million of debentures


( NP-HLN ( NP ( NP ( NNP Golar ) ( NNP Gas ) ( NNP Holding ) ( NNP Co. ) ) ( NP ( NP ( DT a ) ( NN subsidiary ) ) ( PP ( IN of ) ( NP ( NNP Gotaas-Larsen ) ( NNP Shipping ) ( NNP Corp. ) ) ) ) ) ( NP ( NP ( VBG offering ) ) ( PP ( IN of ) ( NP ( ADJP ( QP ( CD 280 ) ( CD million ) ) ) ( RB first ) ( VBD preferred ) ( NN ship ) ( NN mortgage ) ( NNS notes ) ) ) ) ( PP-MNR ( IN via ) ( NP ( NNP Merrill ) ( NNP Lynch ) ( NNP Capital ) ( NNPS Markets ) ) ) )

Golar Gas Holding Co. a subsidiary of Gotaas-Larsen Shipping Corp. offering of 280 million first preferred ship mortgage notes via Merrill Lynch Capital Markets


( NP-HLN ( NP ( NNP H.F. ) ( NNP Ahmanson ) ( CC & ) ( NNP Co. ) ) ( NP ( NP ( NN offering ) ) ( PP ( IN of ) ( NP ( NP ( CD four ) ( CD million ) ( NNS shares ) ) ( PP ( IN of ) ( NP ( NP ( JJ noncumulative ) ( JJ convertible ) ( VBN preferred ) ( NN stock ) ) ( NP ( NNP Series ) ( NNP B. ) ) ) ) ) ) ) ( PP-MNR ( IN via ) ( NP ( NP ( NNP Goldman ) ( NNP Sachs ) ( CC & ) ( NNP Co ) ) ( NP ( NNP First ) ( NNP Boston ) ( NNP Corp. ) ) ( CC and ) ( NP ( NNP Merrill ) ( NNP Lynch ) ) ) ) )

H.F. Ahmanson & Co. offering of four million shares of noncumulative convertible preferred stock Series B. via Goldman Sachs & Co First Boston Corp. and Merrill Lynch


( NP ( NP ( NNP Shared ) ( NNPS Technologies ) ( NNP Inc. ) ) ( NP ( NP ( NN offering ) ) ( PP ( IN of ) ( NP ( ADJP ( CD 2.5 ) ( CD million ) ) ( JJ common ) ( NNS shares ) ) ) ) ( PP-MNR ( IN via ) ( NP ( NP ( NNP Smetek ) ( NNP Van ) ( NNP Horn ) ( CC & ) ( NNP Cormack ) ( NNP Inc. ) ) ( CC and ) ( NP ( NNP Oakes ) ( NNP Fitzwilliams ) ( CC & ) ( NNP Co ) ) ) ) )

Shared Technologies Inc. offering of 2.5 million common shares via Smetek Van Horn & Cormack Inc. and Oakes Fitzwilliams & Co


( S ( NP-SBJ ( NP ( NNP Polaroid ) ( NNP Corp. ) ) ( VP ( VBG benefiting ) ( PP-CLR ( IN from ) ( NP ( NN staff-reduction ) ( NNS savings ) ) ) ) ) ( VP ( VBD reported ) ( NP ( NP ( NP ( DT a ) ( JJ strong ) ( NN gain ) ) ( PP-LOC ( IN in ) ( NP ( NN third-quarter ) ( VBG operating ) ( NNS results ) ) ) ) ( CC and ) ( NP ( NP ( JJ net ) ( NN income ) ) ( PP ( IN of ) ( NP ( NP ( QP ( CD 29.9 ) ( CD million ) ) ) ( CC or ) ( NP ( NP ( CD 40 ) ( NNS cents ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ) ) ( PP-TMP ( IN after ) ( NP ( JJ preferred-stock ) ( NNS requirements ) ) ) ) ) )

Polaroid Corp. benefiting from staff-reduction savings reported a strong gain in third-quarter operating results and net income of 29.9 million or 40 cents a share after preferred-stock requirements


( S ( NP-SBJ ( NNS Analysts ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( DT the ) ( NNS numbers ) ) ( VP ( VBD were ) ( ADJP-PRD ( ADJP ( JJR better ) ) ( PP ( IN than ) ( NP ( NNS expectations ) ) ) ) ( PP-PRP ( ADVP ( RB partly ) ) ( IN because ) ( IN of ) ( NP ( NP ( JJ strong ) ( NN profit ) ( NNS margins ) ) ( CC and ) ( NP ( DT a ) ( JJ positive ) ( NN foreign-currency ) ( NN translation ) ) ) ) ) ) ) ) )

Analysts said the numbers were better than expectations partly because of strong profit margins and a positive foreign-currency translation


( S ( ADVP ( RB However ) ) ( NP-SBJ ( PRP they ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( NP ( DT the ) ( NN company ) ( POS 's ) ) ( JJ flat ) ( NN revenue ) ) ( VP ( VBD was ) ( NP-PRD ( NP ( DT a ) ( NN disappointment ) ) ( CC and ) ( NP ( DT an ) ( NN indication ) ( SBAR ( IN that ) ( S ( NP-SBJ ( NP ( NNS sales ) ) ( PP ( IN of ) ( NP ( NP ( NNP Polaroid ) ( POS 's ) ) ( JJ new ) ( JJ conventional ) ( NN film ) ) ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( NNP U.S. ) ) ) ) ( VP ( VBP have ) ( VP ( VBN been ) ( ADJP-PRD ( JJ sluggish ) ) ) ) ) ) ) ) ) ) ) ) )

However they said the company 's flat revenue was a disappointment and an indication that sales of Polaroid 's new conventional film in the U.S. have been sluggish


( S ( NP-SBJ ( NP ( NN Revenue ) ) ( PP-TMP ( IN in ) ( NP ( DT the ) ( JJ third ) ( NN quarter ) ) ) ) ( VP ( VBD was ) ( NP-PRD ( NP ( QP ( CD 437.7 ) ( CD million ) ) ) ( ADJP ( RB almost ) ( JJ unchanged ) ( PP ( IN from ) ( NP ( NP ( QP ( CD 436.3 ) ( CD million ) ) ) ( ADVP-TMP ( NP ( DT a ) ( NN year ) ) ( RBR earlier ) ) ) ) ) ) ) )

Revenue in the third quarter was 437.7 million almost unchanged from 436.3 million a year earlier


( S ( NP-SBJ ( NNP Polaroid ) ) ( VP ( VBD reported ) ( NP ( NP ( VBG operating ) ( NN profit ) ) ( PP ( IN before ) ( NP ( NP ( NNS taxes ) ) ( CC and ) ( NP ( NN interest ) ( NNS costs ) ) ) ) ( PP ( IN of ) ( NP ( NP ( NP ( QP ( CD 63.1 ) ( CD million ) ) ) ( PP ( IN for ) ( NP ( DT the ) ( JJ third ) ( NN quarter ) ) ) ) ( NP ( QP ( RBR more ) ( IN than ) ( VB double ) ) ( DT the ) ( JJ year-before ) ( QP ( CD 24 ) ( CD million ) ) ) ) ) ) ) )

Polaroid reported operating profit before taxes and interest costs of 63.1 million for the third quarter more than double the year-before 24 million


( S ( NP-SBJ ( NP ( NNS Charges ) ) ( PP ( IN for ) ( NP ( NP ( NN staff ) ( NNS cuts ) ) ( CC and ) ( NP ( JJ other ) ( VBG restructuring ) ) ) ) ) ( VP ( VBN produced ) ( NP ( NP ( DT a ) ( JJ net ) ( NN loss ) ) ( PP ( IN of ) ( NP ( NP ( QP ( CD 54.1 ) ( CD million ) ) ) ( CC or ) ( NP ( NP ( CD 77 ) ( NNS cents ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ) ) ( PP-TMP ( IN in ) ( NP ( NP ( CD 1988 ) ( POS 's ) ) ( JJ third ) ( NN quarter ) ) ) ) )

Charges for staff cuts and other restructuring produced a net loss of 54.1 million or 77 cents a share in 1988 's third quarter


( SINV ( S-TPC-1 ( NP-SBJ ( PRP I ) ) ( VP ( VBP 'm ) ( ADJP-PRD ( RB somewhat ) ( JJ skeptical ) ( PP ( IN about ) ( NP ( NP ( DT the ) ( VBG underlying ) ( NN demand ) ) ( PP ( IN for ) ( NP ( NNP Polaroid ) ( NNS products ) ) ) ) ) ) ) ) ( VP ( VBD said ) ) ( NP-SBJ ( NP ( NNP Michael ) ( NNP Ellmann ) ) ( NP ( NP ( DT an ) ( NN analyst ) ) ( PP ( IN with ) ( NP ( NNP Wertheim ) ( NNP Schroder ) ( CC & ) ( NNP Co ) ) ) ) ) )

I 'm somewhat skeptical about the underlying demand for Polaroid products said Michael Ellmann an analyst with Wertheim Schroder & Co


( S ( SBAR-ADV ( IN If ) ( S ( NP-SBJ ( PRP you ) ) ( VP ( VBP believe ) ( SBAR ( IN that ) ( S ( NP-SBJ ( NP ( DT a ) ( JJ good ) ( NN performance ) ) ( NP-TMP ( JJ next ) ( NN year ) ) ) ( VP ( VBZ is ) ( ADJP-PRD ( JJ contingent ) ( PP ( IN on ) ( NP ( NP ( DT an ) ( NN acceleration ) ) ( PP ( IN of ) ( NP ( NN revenue ) ) ) ) ) ) ) ) ) ) ) ) ( NP-SBJ ( EX there ) ) ( VP ( VBZ is ) ( RB n't ) ( NP-PRD ( NP ( DT a ) ( NN lot ) ) ( ADVP-LOC ( RB here ) ) ( SBAR ( S ( VP ( TO to ) ( VP ( JJ base ) ( NP ( NN optimism ) ) ( PP ( IN on ) ) ) ) ) ) ) ) )

If you believe that a good performance next year is contingent on an acceleration of revenue there is n't a lot here to base optimism on


( S ( NP-SBJ ( NP ( NNP Alex ) ( NNP Henderson ) ) ( NP ( NP ( DT an ) ( NN analyst ) ) ( PP ( IN with ) ( NP ( NNP Prudential-Bache ) ) ) ) ) ( VP ( VBZ says ) ( SBAR ( S ( NP-SBJ ( NNP Polaroid ) ( NNS officials ) ) ( VP ( VBD told ) ( NP ( PRP him ) ) ( NP-TMP ( NN yesterday ) ) ( SBAR ( IN that ) ( S ( NP-SBJ ( NP ( NNP U.S. ) ( NNS sales ) ) ( PP ( IN of ) ( NP ( NP ( NP ( DT the ) ( NN company ) ( POS 's ) ) ( JJ new ) ( JJ conventional ) ( NN film ) ( NN product ) ) ( VP ( VBN introduced ) ( PP-TMP ( IN in ) ( NP ( DT the ) ( JJ second ) ( NN quarter ) ) ) ) ) ) ) ( VP ( VBP have ) ( VP ( VBN been ) ( ADJP-PRD ( JJ disappointing ) ) ( PP-TMP ( IN after ) ( NP ( DT a ) ( JJ promising ) ( NN start ) ) ) ) ) ) ) ) ) ) ) )

Alex Henderson an analyst with Prudential-Bache says Polaroid officials told him yesterday that U.S. sales of the company 's new conventional film product introduced in the second quarter have been disappointing after a promising start


( S ( NP-SBJ ( NP ( NNP Sam ) ( NNP Yanes ) ) ( NP ( DT a ) ( NNP Polaroid ) ( NN spokesman ) ) ) ( VP ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( PRP I ) ) ( VP ( VBP do ) ( RB n't ) ( VP ( VB know ) ( PP ( IN about ) ( FRAG ( JJ disappointing ) ) ) ) ) ) ) ) ( CC but ) ( VP ( VBD added ) ( SBAR ( IN that ) ( S ( NP-SBJ ( DT the ) ( NN company ) ) ( VP ( VBZ has ) ( RB n't ) ( VP ( VBN been ) ( ADJP-PRD ( JJ able ) ( S ( VP ( TO to ) ( VP ( VB get ) ( NP ( DT the ) ( NN product ) ) ( PP-CLR ( IN on ) ( NP ( NP ( DT the ) ( NNS shelves ) ) ( PP ( IN of ) ( NP ( NP ( DT some ) ( NN mass-merchandise ) ( NN discount ) ( NNS retailers ) ) ( SBAR ( WHNP-1 ( IN that ) ) ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBD had ) ( VP ( VBN hoped ) ( SBAR ( S ( VP ( MD would ) ( VP ( VB be ) ( VP ( VBG carrying ) ( NP ( DT the ) ( NN product ) ) ( ADVP-TMP ( RB already ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Sam Yanes a Polaroid spokesman said I do n't know about disappointing but added that the company has n't been able to get the product on the shelves of some mass-merchandise discount retailers that it had hoped would be carrying the product already


( S ( NP-SBJ ( NNP Mr. ) ( NNP Yanes ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( NP ( DT the ) ( NN film ) ) ( NP-TTL ( CD One ) ( NNP Film ) ) ) ( VP ( VBZ is ) ( ADVP-TMP ( RB currently ) ) ( VP ( VBN carried ) ( PP-LOC ( IN at ) ( NP ( NP ( QP ( IN about ) ( CD 15,000 ) ) ( JJ retail ) ( NNS outlets ) ) ( PP ( VBG including ) ( NP ( NNS drugstores ) ( CC and ) ( NNS supermarkets ) ) ) ) ) ) ) ) ) ) )

Mr. Yanes said the film One Film is currently carried at about 15,000 retail outlets including drugstores and supermarkets


( S ( PP-TMP ( IN For ) ( NP ( DT the ) ( CD nine ) ( NNS months ) ) ) ( NP-SBJ ( NNP Polaroid ) ) ( VP ( VBD reported ) ( NP ( NP ( NNS earnings ) ) ( PP ( IN of ) ( NP ( NP ( QP ( CD 98.5 ) ( CD million ) ) ) ( CC or ) ( NP ( NP ( CD 1.27 ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ) ) ) )

For the nine months Polaroid reported earnings of 98.5 million or 1.27 a share


( S ( NP-TMP ( JJ Last ) ( NN year ) ) ( NP-SBJ ( DT the ) ( NN company ) ) ( VP ( VBD had ) ( NP ( NP ( DT a ) ( JJ nine-month ) ( NN loss ) ) ( PP ( IN of ) ( NP ( NP ( QP ( CD 15.1 ) ( CD million ) ) ) ( CC or ) ( NP ( NP ( CD 23 ) ( NNS cents ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ) ) ) )

Last year the company had a nine-month loss of 15.1 million or 23 cents a share


( S ( PP-LOC ( IN In ) ( NP ( NNP New ) ( NNP York ) ( NNP Stock ) ( NNP Exchange ) ( JJ composite ) ( NN trading ) ) ) ( NP-SBJ ( NNP Polaroid ) ) ( VP ( VBD closed ) ( PP-CLR ( IN at ) ( NP ( CD 47 ) ) ) ( ADVP ( IN up ) ( NP ( CD 1.125 ) ) ) ) )

In New York Stock Exchange composite trading Polaroid closed at 47 up 1.125


( S ( S-TPC-1 ( NP-SBJ ( NP ( NNP Fiat ) ( NNP S.p ) ( NNP A. ) ) ( NP ( NP ( NNP Italy ) ( POS 's ) ) ( VBG leading ) ( JJ industrial ) ( NN group ) ) ) ( VP ( VBZ is ) ( VP ( VBG conducting ) ( NP ( NP ( JJ concrete ) ( NNS talks ) ) ( PP ( IN with ) ( NP ( NP ( NNP West ) ( NNP Germany ) ( POS 's ) ) ( NNP Daimler-Benz ) ( NNP AG ) ) ) ( PP ( IN on ) ( NP ( NP ( DT a ) ( NN series ) ) ( PP ( IN of ) ( NP ( NNS projects ) ) ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( NN aerospace ) ( NN sector ) ) ) ) ) ) ) ) ) ( NP-SBJ ( NNP Fiat ) ( NNS officials ) ) ( VP ( VBD said ) ) )

Fiat S.p A. Italy 's leading industrial group is conducting concrete talks with West Germany 's Daimler-Benz AG on a series of projects in the aerospace sector Fiat officials said


( S ( ADVP ( RB However ) ) ( NP-SBJ ( DT the ) ( NNS officials ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( NP ( PRP it ) ) ) ( VP ( VBD was ) ( ADJP-PRD ( RB too ) ( JJ early ) ) ( S-1 ( VP ( TO to ) ( VP ( VP ( VB disclose ) ( NP ( NP ( DT the ) ( NN nature ) ) ( PP ( IN of ) ( NP ( DT the ) ( VBN proposed ) ( NNS projects ) ) ) ) ) ( CC or ) ( VP ( VB indicate ) ( SBAR ( WHADVP-3 ( WRB when ) ) ( S ( NP-SBJ-2 ( DT the ) ( NNS talks ) ) ( VP ( MD might ) ( VP ( VB be ) ( VP ( VBN concluded ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

However the officials said it was too early to disclose the nature of the proposed projects or indicate when the talks might be concluded


( S ( NP-SBJ ( NNP Daimler-Benz ) ( NNP Chairman ) ( NNP Edzard ) ( NNP Reuter ) ) ( VP ( VBD told ) ( NP ( NP ( NP ( NNP Milan ) ( POS 's ) ) ( JJ financial ) ( JJ daily ) ) ( NX-TTL ( NNP Il ) ( NNP Sole ) ( CD 24 ) ( NNP Ore ) ) ) ( SBAR ( IN that ) ( S ( NP-SBJ ( NP ( NNS talks ) ) ) ( VP ( VBP are ) ( VP ( VBG taking ) ( NP ( NN place ) ) ( PP-2 ( IN between ) ( NP ( NP ( DT both ) ( NNS companies ) ( POS ' ) ) ( NN aerospace ) ( NNS units ) ) ) ) ) ) ) ) )

Daimler-Benz Chairman Edzard Reuter told Milan 's financial daily Il Sole 24 Ore that talks are taking place between both companies ' aerospace units


( S ( S-TPC-1 ( SBAR-ADV ( IN While ) ( S ( NP-SBJ ( NP ( NNP Mr. ) ( NNP Reuter ) ( POS 's ) ) ( NNS comments ) ) ( VP ( VBP please ) ( NP ( PRP us ) ) ( ADVP ( RB very ) ( RB much ) ) ) ) ) ( NP-SBJ ( EX there ) ) ( ADVP-TMP ( RB currently ) ) ( VP ( VBP are ) ( NP-PRD ( NP ( DT no ) ( NNS talks ) ) ( PP ( IN in ) ( NP ( NN progress ) ) ) ( VP ( VBG regarding ) ( NP ( DT the ) ( JJ automotive ) ( NN industry ) ) ) ) ) ) ( NP-SBJ ( DT a ) ( NNP Fiat ) ( NN spokeswoman ) ) ( VP ( VBD said ) ) )

While Mr. Reuter 's comments please us very much there currently are no talks in progress regarding the automotive industry a Fiat spokeswoman said


( S ( PP-LOC ( IN In ) ( NP ( DT the ) ( NN interview ) ) ) ( NP-SBJ ( NNP Mr. ) ( NNP Reuter ) ) ( VP ( VBD said ) ( SBAR ( S ( S ( NP-SBJ ( PRP he ) ) ( VP ( VBZ is ) ( VP ( VBG thinking ) ( ADVP ( RB foremost ) ) ( PP ( IN of ) ( NP ( NP ( NN cooperation ) ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( NN truck ) ( NN sector ) ) ) ) ) ) ) ) ( CC but ) ( S ( PP-TMP ( IN in ) ( NP ( DT the ) ( JJ long ) ( NN run ) ) ) ( NP-SBJ-1 ( PRP I ) ) ( VP ( VBP do ) ( RB n't ) ( VP ( VB want ) ( S ( VP ( TO to ) ( VP ( VB rule ) ( PRT ( RP out ) ) ( SBAR ( IN that ) ( S ( NP-SBJ ( PRP we ) ) ( VP ( MD can ) ( ADVP ( RB also ) ) ( VP ( VB come ) ( ADJP-PRD ( NP ( DT a ) ( NN bit ) ) ( RBR closer ) ( PP ( IN in ) ( NP ( JJ personal ) ( NNS cars ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

In the interview Mr. Reuter said he is thinking foremost of cooperation in the truck sector but in the long run I do n't want to rule out that we can also come a bit closer in personal cars


( S ( NP-SBJ ( NP ( NNP Roberto ) ( NNP Morelli ) ) ( NP ( NP ( NNP Italy ) ( NN analyst ) ) ( PP ( IN for ) ( NP ( NP ( NNP County ) ( NNP Natwest ) ( NNPS Securities ) ) ( PP-LOC ( IN in ) ( NP ( NNP London ) ) ) ) ) ) ) ( VP ( VBD said ) ( SBAR ( IN that ) ( S ( ADVP-TMP ( RB right ) ( RB now ) ) ( NP-SBJ-1 ( DT the ) ( NN market ) ) ( VP ( VBZ is ) ( RB n't ) ( VP ( VBG being ) ( VP ( VBN influenced ) ( PP ( IN by ) ( NP-LGS ( NP ( DT that ) ( NN kind ) ) ( PP ( IN of ) ( NP ( NN news ) ) ) ) ) ) ) ) ) ) ( UCP-ADV ( S-ADV ( VP ( VBG referring ) ( PP ( TO to ) ( NP ( NP ( DT the ) ( JJ conditional ) ( NN nature ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( NNS talks ) ) ( VP ( VBN mentioned ) ( PP ( IN by ) ( NP-LGS ( NNP Mr. ) ( NNP Reuter ) ) ) ) ) ) ) ) ) ) ( CC and ) ( PP ( IN by ) ( NP ( NP ( DT the ) ( NN uncertainty ) ) ( VP ( VBG surrounding ) ( NP ( NN world ) ( NN stock ) ( NNS exchanges ) ) ( NP-TMP ( DT this ) ( NN week ) ) ) ) ) ) ) )

Roberto Morelli Italy analyst for County Natwest Securities in London said that right now the market is n't being influenced by that kind of news referring to the conditional nature of the talks mentioned by Mr. Reuter and by the uncertainty surrounding world stock exchanges this week


( S ( ADVP ( RB Certainly ) ) ( NP-SBJ-1 ( JJ conservative ) ( NNS environmentalists ) ) ( VP ( MD can ) ( VP ( VB defend ) ( NP ( PRP$ their ) ( VBN limited ) ( NN government ) ( NN position ) ) ( PP-MNR ( IN by ) ( S-NOM ( VP ( VBG differentiating ) ( PP-CLR ( IN between ) ( NP ( NP ( NNP Old ) ( NNP Environmentalism ) ) ( CC and ) ( NP ( NNP New ) ( NNP Environmentalism ) ) ) ) ) ) ) ( PRN ( NP ( NP-TTL ( NP ( NNPS Journalists ) ( CC and ) ( NNPS Others ) ) ( PP ( IN for ) ( VP ( NNP Saving ) ( NP ( DT the ) ( NNP Planet ) ) ) ) ) ( PP ( IN by ) ( NP ( NNP David ) ( NNP Brooks ) ) ) ( NP ( NN editorial ) ( NN page ) ) ( NP-TMP ( NNP Oct. ) ( CD 5 ) ) ) ) ) ) )

Certainly conservative environmentalists can defend their limited government position by differentiating between Old Environmentalism and New Environmentalism Journalists and Others for Saving the Planet by David Brooks editorial page Oct. 5


( S ( NP-SBJ ( NNP Old ) ( NNP Environmentalism ) ) ( VP ( VBD involved ) ( NP ( NP ( NN microbe ) ( NNS hunters ) ) ( CC and ) ( NP ( NNS sanitationists ) ) ) ) )

Old Environmentalism involved microbe hunters and sanitationists


( S ( NP-SBJ ( PRP It ) ) ( VP ( VBD started ) ( PP ( IN with ) ( NP ( NP ( NP ( NNS improvements ) ) ( PP-LOC ( IN in ) ( NP ( NN hygiene ) ) ) ) ( VP ( VBN made ) ( S ( ADJP-PRD ( JJ possible ) ) ) ( PP ( IN by ) ( NP-LGS ( NP ( JJ affordable ) ( NN soap ) ) ( CC and ) ( NP ( JJ washable ) ( NN underwear ) ) ) ) ( PP-TMP ( IN during ) ( NP ( DT the ) ( NNP Industrial ) ( NNP Revolution ) ) ) ) ) ) ) )

It started with improvements in hygiene made possible by affordable soap and washable underwear during the Industrial Revolution


( S ( ADVP-TMP ( RB Then ) ) ( NP-SBJ-1 ( NP ( JJ cast-iron ) ( NN sewer ) ( NN pipe ) ) ( CC and ) ( NP ( DT the ) ( JJ flush ) ( NN toilet ) ) ) ( VP ( VBD were ) ( VP ( VBN followed ) ( PP-LGS ( IN by ) ( NP ( NN sewage ) ( CC and ) ( NN water-treatment ) ( NNS plants ) ) ) ( PP-TMP ( IN toward ) ( NP ( NP ( DT the ) ( NN end ) ) ( PP ( IN of ) ( NP ( DT the ) ( JJ 19th ) ( NN century ) ) ) ) ) ) ) )

Then cast-iron sewer pipe and the flush toilet were followed by sewage and water-treatment plants toward the end of the 19th century


( S ( NP-SBJ-1 ( NP ( NN Medicine ) ) ( PP-TMP ( IN in ) ( NP ( DT the ) ( JJ 19th ) ( NN century ) ) ) ) ( VP ( VBD was ) ( VP ( VBN dedicated ) ( ADVP ( RB mostly ) ) ( PP-CLR ( TO to ) ( NP ( S-NOM ( VP ( VBG combating ) ( NP ( NN sepsis ) ) ) ) ( CC and ) ( NP ( JJ diagnostic ) ( NN analysis ) ) ) ) ) ) )

Medicine in the 19th century was dedicated mostly to combating sepsis and diagnostic analysis


( S ( ADVP-TMP ( RB Then ) ) ( NP-SBJ ( DT the ) ( JJ 20th ) ( NN century ) ) ( VP ( VBD saw ) ( NP ( NP ( DT the ) ( NN evolution ) ) ( PP ( IN of ) ( NP ( NP ( JJ private-sector ) ( NN wonder ) ( NNS drugs ) ) ( SBAR ( WHNP-1 ( WDT which ) ) ( S ( VP ( VBD promulgated ) ( NP ( JJ medical ) ( NN therapy ) ) ) ) ) ) ) ) ) )

Then the 20th century saw the evolution of private-sector wonder drugs which promulgated medical therapy


( S ( NP-SBJ ( DT The ) ( NN process ) ) ( VP ( VP ( ADVP-MNR ( RB dramatically ) ) ( VBD increased ) ( NP ( PRP$ our ) ( JJ average ) ( NN life ) ( NN expectancy ) ) ) ( VP ( VBD eliminated ) ( NP ( JJ much ) ( NN pain ) ) ) ( CC and ) ( VP ( ADVP-MNR ( RB constantly ) ) ( VBN improved ) ( NP ( NN health ) ( CC and ) ( NN well-being ) ) ) ) )

The process dramatically increased our average life expectancy eliminated much pain and constantly improved health and well-being


( S ( NP-SBJ-1 ( JJS Most ) ( NN public-health ) ( NNS measures ) ) ( VP ( VBD were ) ( VP ( VBN handled ) ( PP-LOC ( IN at ) ( NP ( DT the ) ( JJ local ) ( NN level ) ) ) ) ) )

Most public-health measures were handled at the local level


( S ( NP-SBJ ( NNP New ) ( NNP Environmentalism ) ) ( ADVP ( RB probably ) ) ( VP ( VBD started ) ( PP-TMP-CLR ( IN in ) ( NP ( CD 1962 ) ) ) ( PP ( IN with ) ( NP ( NP ( DT the ) ( NN publication ) ) ( PP ( IN of ) ( NP ( NP ( NP ( NNP Rachel ) ( NNP Carson ) ( POS 's ) ) ( NN book ) ) ( NP-TTL ( NNP Silent ) ( NNP Spring ) ) ) ) ) ) ) )

New Environmentalism probably started in 1962 with the publication of Rachel Carson 's book Silent Spring


( S ( ADVP-TMP ( RB Shortly ) ( RB thereafter ) ) ( NP-SBJ-1 ( JJ hysterical ) ( NNS articles ) ) ( VP ( VBD began ) ( S ( VP ( TO to ) ( VP ( VB appear ) ) ) ) ( S-ADV ( VP ( VBG predicting ) ( SBAR ( IN that ) ( S ( NP-SBJ ( VBN advanced ) ( JJ industrial ) ( NNS societies ) ) ( VP ( MD would ) ( VP ( VB produce ) ( NP ( DT a ) ( VBN blackened ) ( JJ uninhabitable ) ( NN planet ) ) ( PP-TMP ( ADVP ( RB possibly ) ) ( IN by ) ( NP ( NP ( DT the ) ( NN turn ) ) ( PP ( IN of ) ( NP ( DT the ) ( NN century ) ) ) ) ) ) ) ) ) ) ) ) )

Shortly thereafter hysterical articles began to appear predicting that advanced industrial societies would produce a blackened uninhabitable planet possibly by the turn of the century


( S ( NP-SBJ-1 ( DT These ) ( JJ apocalyptic ) ( NNS predictions ) ) ( VP ( VBD were ) ( VP ( VBN advanced ) ( PP ( IN by ) ( NP-LGS ( NP ( JJ such ) ( NNS stalwarts ) ) ( PP ( IN as ) ( NP ( NP ( NNP Paul ) ( NNP Ehrlich ) ) ( NP ( NNP Barry ) ( NNP Commoner ) ) ( NP ( NNP Rene ) ( NNP Dubois ) ) ( CC and ) ( NP ( NNP George ) ( NNP Wald ) ) ) ) ) ) ) ) )

These apocalyptic predictions were advanced by such stalwarts as Paul Ehrlich Barry Commoner Rene Dubois and George Wald


( S ( S-ADV ( VP ( VBG Writing ) ( PP-TMP ( IN in ) ( NP ( DT the ) ( CD 1960s ) ) ) ) ) ( S ( NP-SBJ-2 ( NNP Ms. ) ( NNP Carson ) ) ( VP ( VBD suggested ) ( SBAR ( IN that ) ( S ( NP-SBJ-1 ( DT the ) ( JJ human ) ( NN race ) ) ( VP ( MD could ) ( VP ( VB be ) ( VP ( VBN eliminated ) ( PP-TMP ( IN in ) ( NP ( CD 20 ) ( NNS years ) ) ) ) ) ) ) ) ) ) ( CC and ) ( S ( NP-SBJ ( NNP Mr. ) ( NNP Wald ) ) ( VP ( VBD suggested ) ( SBAR ( DT that ) ( S ( NP-SBJ ( NP ( NN life ) ) ( PP ( IN on ) ( NP ( NN earth ) ) ) ) ( VP ( MD might ) ( VP ( VB end ) ( PP-TMP ( IN by ) ( NP ( CD 1985 ) ) ) ) ) ) ) ) ) )

Writing in the 1960s Ms. Carson suggested that the human race could be eliminated in 20 years and Mr. Wald suggested that life on earth might end by 1985


( S ( NP-SBJ ( NNP Mr. ) ( NNP Ehrlich ) ) ( VP ( VBD predicted ) ( NP ( NP ( JJ unprecedented ) ( NN famine ) ) ( PP-TMP ( IN by ) ( NP ( CD 1980 ) ) ) ) ) )

Mr. Ehrlich predicted unprecedented famine by 1980


( S ( NP-SBJ ( EX There ) ) ( VP ( VBD were ) ( NP-PRD ( RB many ) ( JJR more ) ) ) )

There were many more


( S ( NP-SBJ-1 ( NP ( NNS Thousands ) ) ( PP ( IN of ) ( NP ( NN chemical ) ( NNS products ) ) ) ) ( VP ( VBD were ) ( VP ( VBN categorized ) ( PP-CLR ( IN as ) ( ADJP ( JJ carcinogenic ) ) ) ( PP ( IN with ) ( NP ( NNS recommendations ) ( SBAR ( IN that ) ( S ( NP-SBJ-2 ( PRP they ) ) ( VP ( VB be ) ( VP ( VBN banned ) ( PP-CLR ( IN from ) ( NP ( JJ industrial ) ( NN use ) ) ) ( SBAR-PRP ( IN because ) ( S ( NP-SBJ ( PRP they ) ) ( VP ( VBD produced ) ( NP ( JJ malignant ) ( NNS tumors ) ) ( PP-LOC-CLR ( IN in ) ( NP ( VBN overdosed ) ( NNS rats ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Thousands of chemical products were categorized as carcinogenic with recommendations that they be banned from industrial use because they produced malignant tumors in overdosed rats


( SINV ( ADJP-TPC-2 ( JJ Unknown ) ( PP-TMP ( IN before ) ( NP ( CD 1960 ) ) ) ) ( VP ( VBD were ) ) ( NP-SBJ ( NP ( DT the ) ( JJ inconclusive ) ( NNS effects ) ) ( PP ( IN of ) ( NP ( NP ( NP ( NN acid ) ( NN rain ) ) ( NP ( NN greenhouse ) ( NN warming ) ) ( CC and ) ( NP ( NN ozone ) ( NN depletion ) ) ) ( SBAR ( WHNP-1 ( DT all ) ( WHPP ( IN of ) ( WHNP ( WDT which ) ) ) ) ( S ( VP ( VBD required ) ( NP ( NP ( VBG burgeoning ) ( JJ political ) ( NN power ) ) ( CC and ) ( NP ( JJ gargantuan ) ( NN expense ) ) ) ) ) ) ) ) ) )

Unknown before 1960 were the inconclusive effects of acid rain greenhouse warming and ozone depletion all of which required burgeoning political power and gargantuan expense


( S ( ADVP-TMP ( RB Meanwhile ) ) ( NP-SBJ ( DT the ) ( NNP New ) ( NNPS Environmentalists ) ) ( VP ( ADVP-MNR ( RB systematically ) ) ( VBD opposed ) ( NP ( NP ( DT the ) ( NNS methods ) ) ( PP ( IN of ) ( NP ( DT the ) ( NNP Old ) ( NNPS Environmentalists ) ) ) ) ) )

Meanwhile the New Environmentalists systematically opposed the methods of the Old Environmentalists


( S ( NP-SBJ ( JJ Local ) ( NN pollution ) ( NNS problems ) ) ( VP ( VBP require ) ( NP ( NP ( JJ cheap ) ( NN energy ) ) ( CC and ) ( NP ( NN capital ) ) ) ( PP-CLR ( IN for ) ( NP ( PRP$ their ) ( NN solution ) ) ) ) )

Local pollution problems require cheap energy and capital for their solution


( S ( CC But ) ( NP-SBJ ( DT the ) ( NNP New ) ( NNPS Environmentalists ) ) ( VP ( VBP oppose ) ( NP ( NP ( NP ( JJ private ) ( NN wealth ) ( NN creation ) ) ( PRN ( SBAR-2 ( WHNP-1 ( WDT which ) ) ( PRN ( S ( NP-SBJ ( PRP they ) ) ( VP ( VBP claim ) ) ) ) ( S ( VP ( VBZ depletes ) ( NP ( JJ natural ) ( NNS resources ) ) ) ) ) ) ) ( CC and ) ( NP ( JJ nuclear ) ( NN power ) ) ) ) ( PRN ( SBAR ( ADVP ( RB even ) ) ( IN though ) ( S ( NP-SBJ ( PRP it ) ) ( VP ( MD would ) ( VP ( VB counteract ) ( NP ( DT the ) ( NN greenhouse ) ( NN effect ) ) ) ) ) ) ) )

But the New Environmentalists oppose private wealth creation which they claim depletes natural resources and nuclear power even though it would counteract the greenhouse effect


( S ( NP-SBJ ( PRP They ) ) ( VP ( VP ( VBP are ) ( PP-LOC-PRD ( IN in ) ( NP ( NP ( DT the ) ( NN forefront ) ) ( PP ( IN of ) ( S-NOM ( VP ( VBG opposing ) ( NP ( NP ( DT the ) ( NN search ) ) ( PP ( IN for ) ( NP ( NP ( JJ new ) ( NNS landfills ) ( CC and ) ( NNS methods ) ) ( PP ( IN of ) ( NP ( NN incineration ) ) ) ) ) ) ) ) ) ) ) ) ( CC and ) ( ADVP ( RB even ) ) ( VP ( VBP oppose ) ( NP ( NP ( NP ( JJ new ) ( NNS methods ) ) ( PP ( IN of ) ( NP ( NN research ) ) ) ) ( PP ( JJ such ) ( IN as ) ( NP ( JJ genetic ) ( NN engineering ) ) ) ) ) ) )

They are in the forefront of opposing the search for new landfills and methods of incineration and even oppose new methods of research such as genetic engineering


( S ( NP-SBJ ( NNP New ) ( NNP Environmentalism ) ) ( VP ( VBZ is ) ( NP-PRD ( NP ( NP ( DT an ) ( JJ emotional ) ( NN attack ) ) ( PP ( IN on ) ( NP ( NP ( VBN proven ) ( NNS methods ) ) ( PP ( IN of ) ( S-NOM ( VP ( VBG improving ) ( NP ( NP ( PRP$ our ) ( NN quality ) ) ( PP ( IN of ) ( NP ( NN life ) ) ) ) ) ) ) ) ) ) ( CC and ) ( NP ( NP ( DT a ) ( NN bid ) ) ( PP ( IN for ) ( NP ( JJ political ) ( NN power ) ) ) ) ) ) )

New Environmentalism is an emotional attack on proven methods of improving our quality of life and a bid for political power


( S ( VP ( VB Let ) ( NP-1 ( PRP 's ) ) ( S ( VP ( VB rationalize ) ( NP ( PRP$ our ) ( NNS priorities ) ) ( PP-MNR ( IN by ) ( S-NOM ( VP ( VBG solving ) ( NP ( NN pollution ) ( NNS problems ) ) ( PP-LOC ( IN at ) ( NP ( DT the ) ( JJ local ) ( NN level ) ) ) ( PP-TMP ( RB as ) ( FRAG ( RB heretofore ) ) ) ) ) ) ) ) ) )

Let 's rationalize our priorities by solving pollution problems at the local level as heretofore


( NP-HLN ( NP ( NNP Harry ) ( NNP Lee ) ( NNP Smith ) ) ( NP ( NP ( NNP Alpharetta ) ) ( NP ( NNP Ga ) ) ) )

Harry Lee Smith Alpharetta Ga


( S ( NP-SBJ ( PRP$ Your ) ( NN story ) ) ( VP ( VBD missed ) ( NP ( NP ( DT some ) ( JJ essential ) ( NNS points ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( NN conference ) ) ( PP ( IN on ) ( NP-TTL ( NP ( NNP The ) ( NNP Global ) ( NNP Environment ) ) ( SQ ( VBP Are ) ( NP-SBJ ( PRP We ) ) ( VP ( VBG Overreacting ) ) ) ) ) ) ) ) ) )

Your story missed some essential points of the conference on The Global Environment Are We Overreacting


( S ( ADVP ( RB First ) ( CC and ) ( RB foremost ) ) ( NP-SBJ ( NP ( DT the ) ( NNS vignettes ) ) ( VP ( VBN presented ) ( PP ( IN by ) ( NP-LGS ( DT the ) ( JJ various ) ( NNS scientists ) ) ) ) ) ( VP ( VBP represent ) ( NP ( NP ( DT a ) ( JJ general ) ( NN consensus ) ) ( PP-LOC ( IN among ) ( NP ( NP ( NNS specialists ) ) ( VP ( VBG working ) ( PP-LOC-CLR ( IN in ) ( NP ( NP ( DT the ) ( JJ respective ) ( NNS aspects ) ) ( PP ( IN of ) ( NP ( DT the ) ( JJ global ) ( NN environment ) ) ) ) ) ) ) ) ) ) )

First and foremost the vignettes presented by the various scientists represent a general consensus among specialists working in the respective aspects of the global environment


( S ( S ( VP ( VB Consider ) ( PP ( IN for ) ( NP ( NN example ) ) ) ( NP ( NP ( DT the ) ( NN greenhouse ) ( NN effect ) ) ( CC and ) ( NP ( NN climate ) ( NN change ) ) ) ) ) ( S ( NP-SBJ ( NP ( JJ numerous ) ( JJ blue-ribbon ) ( JJ scientific ) ( NNS committees ) ) ( PP ( VBG including ) ( NP ( NP ( CD one ) ) ( PP ( IN from ) ( NP ( NP ( DT the ) ( NNP National ) ( NNP Academy ) ) ( PP ( IN of ) ( NP ( NNP Science ) ) ) ) ) ) ) ) ( VP ( VBP judge ) ( SBAR ( S ( NP-SBJ ( EX there ) ) ( VP ( VBZ is ) ( NP-PRD ( NP ( DT a ) ( ADJP ( QP ( JJR greater ) ( IN than ) ( CD 50 ) ) ( NN % ) ) ( NN probability ) ) ( PP ( IN of ) ( NP ( NP ( DT a ) ( JJ grave ) ( NN problem ) ) ( PP ( IN in ) ( NP ( DT the ) ( NN offing ) ) ) ) ) ) ) ) ) ) ) )

Consider for example the greenhouse effect and climate change numerous blue-ribbon scientific committees including one from the National Academy of Science judge there is a greater than 50 % probability of a grave problem in the offing


( S ( NP-SBJ ( DT The ) ( NN point ) ) ( VP ( VBD was ) ( S-PRD ( S ( VP ( TO to ) ( VP ( VB answer ) ( NP ( NP ( DT the ) ( NN question ) ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( NN conference ) ( NN title ) ) ) ) ) ) ) ( RB not ) ( S ( VP ( TO to ) ( VP ( VB try ) ( S ( VP ( TO to ) ( VP ( VB create ) ( NP ( NN news ) ( NNS stories ) ) ( PP-PRP ( IN for ) ( NP ( DT the ) ( NN event ) ( PRP itself ) ) ) ) ) ) ) ) ) ) ) )

The point was to answer the question in the conference title not to try to create news stories for the event itself


( SINV ( CC Nor ) ( VBD was ) ( NP-SBJ ( PRP it ) ) ( VP ( VBN intended ) ( S ( VP ( TO to ) ( VP ( VB dictate ) ( NP ( NP ( DT a ) ( NN set ) ) ( PP ( IN of ) ( NP ( JJ prescriptive ) ( NNS solutions ) ) ) ) ) ) ) ( SBAR-ADV ( IN although ) ( S ( NP-SBJ-1 ( JJ various ) ( NNS points ) ) ( VP ( VBD were ) ( VP ( VBN raised ) ) ) ) ) ) )

Nor was it intended to dictate a set of prescriptive solutions although various points were raised


( S ( NP-SBJ-1 ( DT Each ) ( NN speaker ) ) ( VP ( VBD was ) ( VP ( VBN asked ) ( S ( VP ( TO to ) ( VP ( VP ( VB address ) ( NP ( DT a ) ( JJ specific ) ( NN topic ) ) ) ( RB not ) ( VP ( VB deliver ) ( NP ( NP ( DT a ) ( NN point ) ) ( PP ( IN of ) ( NP ( NN view ) ) ) ) ) ) ) ) ) ) )

Each speaker was asked to address a specific topic not deliver a point of view


( S ( NP-SBJ ( DT Each ) ( NN scientist ) ) ( VP ( ADVP-MNR ( RB independently ) ) ( VBD concluded ) ( SBAR ( S ( NP-SBJ ( NN society ) ( CC and ) ( NN government ) ) ( VP ( VBP are ) ( VP ( VBG underreacting ) ( SBAR-TMP ( WHADVP-1 ( WRB when ) ) ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBZ comes ) ( PP ( TO to ) ( NP ( JJ substantive ) ( NN policy ) ( NN change ) ) ) ) ) ) ) ) ) ) ) )

Each scientist independently concluded society and government are underreacting when it comes to substantive policy change


( S ( NP-SBJ ( DT This ) ) ( VP ( VBZ leads ) ( PP-DIR ( TO to ) ( NP ( NP ( DT a ) ( ADJP ( RB very ) ( JJ special ) ) ( NN sense ) ) ( PP ( IN of ) ( NP ( NN urgency ) ) ) ) ) ) )

This leads to a very special sense of urgency


( S ( SBAR-ADV ( IN If ) ( S ( NP-SBJ-2 ( DT the ) ( NNS media ) ) ( VP ( VBP decide ) ( S ( VP ( TO to ) ( VP ( VB work ) ( ADVP-MNR ( RBR harder ) ) ( PP-CLR ( IN at ) ( S-NOM ( VP ( VBG educating ) ( NP ( DT the ) ( NN public ) ) ( PP-CLR ( IN about ) ( NP ( DT these ) ( ADJP ( JJ complex ) ( CC and ) ( JJ technical ) ) ( NNS issues ) ) ) ) ) ) ) ) ) ) ) ) ( NP-SBJ-1 ( WDT that ) ) ( ADVP ( RB hardly ) ) ( VP ( MD can ) ( VP ( VB be ) ( VP ( VBN termed ) ( S ( NP-PRD ( JJ non-objective ) ( NN journalism ) ) ) ) ) ) )

If the media decide to work harder at educating the public about these complex and technical issues that hardly can be termed non-objective journalism


( S ( NP-SBJ ( DT The ) ( NN environment ) ) ( VP ( MD can ) ( ADVP ( RB no ) ( RB longer ) ) ( VP ( VB be ) ( NP-PRD ( NP ( DT a ) ( JJ normal ) ( NN issue ) ) ( S ( VP ( TO to ) ( VP ( VB be ) ( VP ( VBN dealt ) ( IN with ) ( PP ( IN on ) ( NP ( NP ( DT a ) ( JJ business-as-usual ) ( NN basis ) ) ( PP ( IN with ) ( NP ( NP ( JJ comfortable ) ( NNS increments ) ) ( PP ( IN of ) ( NP ( NN change ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

The environment can no longer be a normal issue to be dealt with on a business-as-usual basis with comfortable increments of change


( S ( NP-SBJ ( PRP We ) ) ( VP ( VBP have ) ( VP ( ADVP ( RB literally ) ) ( VBN altered ) ( NP ( NP ( DT the ) ( NN chemistry ) ( CC and ) ( NNS physics ) ) ( PP ( IN of ) ( NP ( NP ( PRP$ our ) ( NN planet ) ( POS 's ) ) ( NN atmosphere ) ) ) ) ) ) )

We have literally altered the chemistry and physics of our planet 's atmosphere


( S ( NP-SBJ ( DT This ) ) ( VP ( VBZ portends ) ( NP ( NP ( NNS consequences ) ) ( PP ( IN from ) ( SBAR ( WHNP-2 ( WP what ) ) ( S ( NP-SBJ ( PRP we ) ) ( VP ( VBP have ) ( ADVP-TMP ( RB already ) ) ( VP ( VBN done ) ) ) ) ) ) ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( VP ( MD will ) ( VP ( VB be ) ( ADJP-PRD ( RB very ) ( VBG destabilizing ) ( PP ( TO to ) ( NP ( ADJP ( JJ social ) ( CC and ) ( JJ economic ) ) ( NNS systems ) ) ) ) ) ) ) ) ) ) )

This portends consequences from what we have already done that will be very destabilizing to social and economic systems


( S ( NP-SBJ ( NP ( DT The ) ( NNS problems ) ) ( PP ( IN of ) ( NP ( DT the ) ( NN environment ) ) ) ) ( VP ( VBP are ) ( ADJP-PRD ( ADJP ( ADJP ( RB so ) ( JJ interrelated ) ) ( ADJP ( RB so ) ( RB inextricably ) ( VBN entwined ) ( PP ( IN with ) ( NP ( NP ( PRP$ our ) ( JJ current ) ( NN way ) ) ( PP ( IN of ) ( NP ( NN life ) ) ) ) ) ) ( CC and ) ( ADJP ( RB so ) ( JJ large ) ) ) ( SBAR ( IN that ) ( S ( NP-SBJ ( NP ( PRP it ) ) ) ( VP ( VBZ is ) ( ADJP-PRD-2 ( JJ unlikely ) ) ( SBAR ( S ( NP-SBJ ( PRP we ) ) ( VP ( MD will ) ( VP ( VB be ) ( ADJP-PRD ( JJ able ) ( S ( VP ( TO to ) ( VP ( VB address ) ( NP ( PRP them ) ) ( ADVP-MNR ( RB effectively ) ) ) ) ) ) ) ) ) ) ( SBAR-ADV ( IN unless ) ( S ( NP-SBJ-1 ( JJ major ) ( NNS changes ) ) ( VP ( VBP are ) ( VP ( VBN made ) ( PP-TMP ( IN in ) ( NP ( QP ( RBR less ) ( IN than ) ( CD 10 ) ) ( NNS years ) ) ) ) ) ) ) ) ) ) ) ) )

The problems of the environment are so interrelated so inextricably entwined with our current way of life and so large that it is unlikely we will be able to address them effectively unless major changes are made in less than 10 years


( S ( NP-SBJ ( NP ( DT The ) ( NN consensus ) ) ( PP ( IN from ) ( NP ( DT the ) ( JJ scientific ) ( NN community ) ) ) ) ( VP ( VBZ is ) ( SBAR-PRD ( IN that ) ( S ( NP-SBJ ( EX there ) ) ( VP ( VBZ is ) ( NP-PRD ( JJ sufficient ) ( NN evidence ) ( S ( VP ( TO to ) ( VP ( VB advise ) ( NP ( JJ major ) ( NN policy ) ( NNS changes ) ) ) ) ) ) ) ) ) ) )

The consensus from the scientific community is that there is sufficient evidence to advise major policy changes


( S ( INTJ ( RB No ) ) ( NP-SBJ ( PRP we ) ) ( VP ( VBP are ) ( RB not ) ( VP ( VBG overreacting ) ) ) )

No we are not overreacting


( NP-HLN ( NP ( NNP Thomas ) ( NNP E. ) ( NNP Lovejoy ) ) ( NP ( NP ( NNP Assistant ) ( NNP Secretary ) ) ( PP ( IN for ) ( NP ( NNP External ) ( NNPS Affairs ) ) ) ) ( NP-LOC ( NNP Smithsonian ) ( NNP Institution ) ) )

Thomas E. Lovejoy Assistant Secretary for External Affairs Smithsonian Institution


( S ( NP-SBJ ( NP ( NP ( NNP Eastern ) ( NNP Airlines ) ( POS ' ) ) ( NNS creditors ) ( NN committee ) ) ( ADJP ( JJ unhappy ) ( PP ( IN with ) ( NP ( NP ( NP ( DT the ) ( NN carrier ) ( POS 's ) ) ( NNS plans ) ) ( PP ( IN for ) ( S-NOM ( VP ( VBG emerging ) ( PP-CLR ( IN from ) ( NP ( NN bankruptcy-law ) ( NNS proceedings ) ) ) ) ) ) ) ) ) ) ( VP ( VBD asked ) ( NP-1 ( PRP$ its ) ( JJ own ) ( NNS experts ) ) ( S ( VP ( TO to ) ( VP ( VB devise ) ( NP ( NP ( JJ alternate ) ( NNS approaches ) ) ( PP ( TO to ) ( NP ( DT a ) ( NN reorganization ) ) ) ) ) ) ) ) )

Eastern Airlines ' creditors committee unhappy with the carrier 's plans for emerging from bankruptcy-law proceedings asked its own experts to devise alternate approaches to a reorganization