( S ( NP-SBJ ( NP ( DT The ) ( JJ key ) ( NNP U.S. ) ( CC and ) ( JJ foreign ) ( JJ annual ) ( NN interest ) ( NNS rates ) ) ( ADVP-LOC ( RB below ) ) ) ( VP ( VP ( VBP are ) ( NP-PRD ( NP ( DT a ) ( NN guide ) ) ( PP ( TO to ) ( NP ( JJ general ) ( NNS levels ) ) ) ) ) ( CC but ) ( VP ( VBP do ) ( RB n't ) ( ADVP-TMP ( RB always ) ) ( VP ( VB represent ) ( NP ( JJ actual ) ( NNS transactions ) ) ) ) ) )

The key U.S. and foreign annual interest rates below are a guide to general levels but do n't always represent actual transactions


( NP ( NP ( NNP PRIME ) ( NNP RATE ) ) ( NP ( QP ( CD 10 ) ( CD 1\/2 ) ) ( NN % ) ) )

PRIME RATE 10 1\/2 %


( NP ( NP ( DT The ) ( NN base ) ( NN rate ) ) ( PP ( IN on ) ( NP ( JJ corporate ) ( NNS loans ) ) ) ( PP-LOC ( IN at ) ( NP ( JJ large ) ( NNP U.S. ) ( NN money ) ( NN center ) ( JJ commercial ) ( NNS banks ) ) ) )

The base rate on corporate loans at large U.S. money center commercial banks


( NP ( NP ( NNP FEDERAL ) ( NNP FUNDS ) ) ( NP ( NP ( ADJP ( QP ( CD 8 ) ( CD 3\/4 ) ) ( NN % ) ) ( JJ high ) ) ( NP ( ADJP ( QP ( CD 8 ) ( CD 11\/16 ) ) ( NN % ) ) ( JJ low ) ) ( NP ( NP ( QP ( CD 8 ) ( CD 3\/4 ) ) ( NN % ) ) ( PP-TMP ( IN near ) ( NP ( NN closing ) ( NN bid ) ) ) ) ( NP ( NP ( QP ( CD 8 ) ( CD 3\/4 ) ) ( NN % ) ) ( VP ( VBN offered ) ) ) ) )

FEDERAL FUNDS 8 3\/4 % high 8 11\/16 % low 8 3\/4 % near closing bid 8 3\/4 % offered


( S ( NP-SBJ ( NNS Reserves ) ) ( VP ( VBD traded ) ( PP-CLR ( IN among ) ( NP ( JJ commercial ) ( NNS banks ) ) ) ( PP ( IN for ) ( NP ( JJ overnight ) ( NN use ) ) ) ( PP-MNR ( IN in ) ( NP ( NP ( NNS amounts ) ) ( PP ( IN of ) ( NP ( QP ( CD 1 ) ( CD million ) ( CC or ) ( JJR more ) ) ) ) ) ) ) )

Reserves traded among commercial banks for overnight use in amounts of 1 million or more


( NP ( NP ( NN Source ) ) ( NP ( NNP Fulton ) ( NNP Prebon ) ( PRN ( NP-LOC ( NNP U.S.A ) ) ) ( NNP Inc ) ) )

Source Fulton Prebon U.S.A Inc


( NP ( NP ( NNP DISCOUNT ) ( NNP RATE ) ) ( NP ( CD 7 ) ( NN % ) ) )

DISCOUNT RATE 7 %


( NP ( NP ( DT The ) ( NN charge ) ) ( PP ( IN on ) ( NP ( NP ( NNS loans ) ) ( PP ( TO to ) ( NP ( NN depository ) ( NNS institutions ) ) ) ( PP ( IN by ) ( NP ( DT the ) ( NNP New ) ( NNP York ) ( NNP Federal ) ( NNP Reserve ) ( NNP Bank ) ) ) ) ) )

The charge on loans to depository institutions by the New York Federal Reserve Bank


( NP ( NP ( NNP CALL ) ( NNP MONEY ) ) ( NP ( QP ( CD 9 ) ( CD 3\/4 ) ( NN % ) ( TO to ) ( CD 10 ) ( NN % ) ) ) )

CALL MONEY 9 3\/4 % to 10 %


( NP ( NP ( DT The ) ( NN charge ) ) ( PP ( IN on ) ( NP ( NP ( NNS loans ) ) ( PP ( TO to ) ( NP ( NNS brokers ) ) ) ( PP ( IN on ) ( NP ( NN stock ) ( NN exchange ) ( NN collateral ) ) ) ) ) )

The charge on loans to brokers on stock exchange collateral


( NP ( NP ( NP ( NNP COMMERCIAL ) ( NNP PAPER ) ) ( VP ( VBN placed ) ( ADVP-MNR ( RB directly ) ) ( PP ( IN by ) ( NP-LGS ( NNP General ) ( NNP Motors ) ( NNP Acceptance ) ( NNP Corp. ) ) ) ) ) ( NP ( NP ( NP ( CD 8.50 ) ( NN % ) ) ( NP ( QP ( CD 30 ) ( TO to ) ( CD 44 ) ) ( NNS days ) ) ) ( NP ( NP ( QP ( CD 8.25 ) ) ( NN % ) ) ( NP ( QP ( CD 45 ) ( TO to ) ( CD 62 ) ) ( NNS days ) ) ) ( NP ( NP ( CD 8.375 ) ( NN % ) ) ( NP ( QP ( CD 63 ) ( TO to ) ( CD 89 ) ) ( NNS days ) ) ) ( NP ( NP ( CD 8 ) ( NN % ) ) ( NP ( QP ( CD 90 ) ( TO to ) ( CD 119 ) ) ( NNS days ) ) ) ( NP ( NP ( CD 7.90 ) ( NN % ) ) ( NP ( QP ( CD 120 ) ( TO to ) ( CD 149 ) ) ( NNS days ) ) ) ( NP ( NP ( CD 7.80 ) ( NN % ) ) ( NP ( QP ( CD 150 ) ( TO to ) ( CD 179 ) ) ( NNS days ) ) ) ( NP ( NP ( CD 7.55 ) ( NN % ) ) ( NP ( QP ( CD 180 ) ( TO to ) ( CD 270 ) ) ( NNS days ) ) ) ) )

COMMERCIAL PAPER placed directly by General Motors Acceptance Corp. 8.50 % 30 to 44 days 8.25 % 45 to 62 days 8.375 % 63 to 89 days 8 % 90 to 119 days 7.90 % 120 to 149 days 7.80 % 150 to 179 days 7.55 % 180 to 270 days


( NP ( NP ( NNP COMMERCIAL ) ( NNP PAPER ) ) ( NP ( NP ( JJ High-grade ) ( JJ unsecured ) ( NNS notes ) ) ( VP ( VBD sold ) ( PP-MNR ( IN through ) ( NP ( NNS dealers ) ) ) ( PP ( IN by ) ( NP-LGS ( JJ major ) ( NNS corporations ) ) ) ( PP-MNR ( IN in ) ( NP ( NP ( NNS multiples ) ) ( PP ( IN of ) ( NP ( CD 1,000 ) ) ) ) ) ) ) ( NP ( NP ( NP ( CD 8.55 ) ( NN % ) ) ( NP ( CD 30 ) ( NNS days ) ) ) ( NP ( NP ( CD 8.50 ) ( NN % ) ) ( NP ( CD 60 ) ( NNS days ) ) ) ( NP ( NP ( CD 8.45 ) ( NN % ) ) ( NP ( CD 90 ) ( NNS days ) ) ) ) )

COMMERCIAL PAPER High-grade unsecured notes sold through dealers by major corporations in multiples of 1,000 8.55 % 30 days 8.50 % 60 days 8.45 % 90 days


( NP ( NP ( NP ( NNS CERTIFICATES ) ) ( PP ( IN OF ) ( NP ( NN DEPOSIT ) ) ) ) ( NP ( NP ( NP ( CD 8.09 ) ( NN % ) ) ( NP ( CD one ) ( NN month ) ) ) ( NP ( NP ( CD 8.04 ) ( NN % ) ) ( NP ( CD two ) ( NNS months ) ) ) ( NP ( NP ( CD 8.03 ) ( NN % ) ) ( NP ( CD three ) ( NNS months ) ) ) ( NP ( NP ( CD 7.96 ) ( NN % ) ) ( NP ( CD six ) ( NNS months ) ) ) ( NP ( NP ( CD 7.92 ) ( NN % ) ) ( NP ( CD one ) ( NN year ) ) ) ) )

CERTIFICATES OF DEPOSIT 8.09 % one month 8.04 % two months 8.03 % three months 7.96 % six months 7.92 % one year


( NP ( NP ( NN Average ) ) ( PP ( IN of ) ( NP ( NP ( JJ top ) ( NNS rates ) ) ( VP ( VBN paid ) ( PP ( IN by ) ( NP-LGS ( JJ major ) ( NNP New ) ( NNP York ) ( NNS banks ) ) ) ( PP-CLR ( PP ( IN on ) ( NP ( NP ( JJ primary ) ( JJ new ) ( NNS issues ) ) ( PP ( IN of ) ( NP ( JJ negotiable ) ( NNS C.D.s ) ) ) ) ) ( RB usually ) ( PP ( IN on ) ( NP ( NP ( NNS amounts ) ) ( PP ( IN of ) ( NP ( QP ( CD 1 ) ( CD million ) ( CC and ) ( JJR more ) ) ) ) ) ) ) ) ) ) )

Average of top rates paid by major New York banks on primary new issues of negotiable C.D.s usually on amounts of 1 million and more


( S ( NP-SBJ ( DT The ) ( NN minimum ) ( NN unit ) ) ( VP ( VBZ is ) ( NP-PRD ( CD 100,000 ) ) ) )

The minimum unit is 100,000


( NP ( NP ( NP ( JJ Typical ) ( NNS rates ) ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( JJ secondary ) ( NN market ) ) ) ) ( NP ( NP ( NP ( CD 8.55 ) ( NN % ) ) ( NP ( CD one ) ( NN month ) ) ) ( NP ( NP ( CD 8.55 ) ( NN % ) ) ( NP ( CD three ) ( NNS months ) ) ) ( NP ( NP ( CD 8.35 ) ( NN % ) ) ( NP ( CD six ) ( NNS months ) ) ) ) )

Typical rates in the secondary market 8.55 % one month 8.55 % three months 8.35 % six months


( NP ( NP ( NNS BANKERS ) ( NNS ACCEPTANCES ) ) ( NP ( NP ( NP ( CD 8.47 ) ( NN % ) ) ( NP ( CD 30 ) ( NNS days ) ) ) ( NP ( NP ( CD 8.42 ) ( NN % ) ) ( NP ( CD 60 ) ( NNS days ) ) ) ( NP ( NP ( CD 8.25 ) ( NN % ) ) ( NP ( CD 90 ) ( NNS days ) ) ) ( NP ( NP ( CD 8.10 ) ( NN % ) ) ( NP ( CD 120 ) ( NNS days ) ) ) ( NP ( NP ( CD 8.02 ) ( NN % ) ) ( NP ( CD 150 ) ( NNS days ) ) ) ( NP ( NP ( CD 7.95 ) ( NN % ) ) ( NP ( CD 180 ) ( NNS days ) ) ) ) )

BANKERS ACCEPTANCES 8.47 % 30 days 8.42 % 60 days 8.25 % 90 days 8.10 % 120 days 8.02 % 150 days 7.95 % 180 days


( NP ( NP ( JJ Negotiable ) ( JJ bank-backed ) ( NN business ) ( NN credit ) ( NNS instruments ) ) ( VP ( ADVP ( RB typically ) ) ( VBG financing ) ( NP ( DT an ) ( NN import ) ( NN order ) ) ) )

Negotiable bank-backed business credit instruments typically financing an import order


( NP ( NP ( NNP LONDON ) ( RB LATE ) ( NNS EURODOLLARS ) ) ( NP ( NP ( NP ( QP ( CD 8 ) ( CD 3\/4 ) ( NN % ) ( TO to ) ( CD 8 ) ( CD 5\/8 ) ( NN % ) ) ) ( NP ( CD one ) ( NN month ) ) ) ( NP ( NP ( NP ( QP ( CD 8 ) ( CD 13\/16 ) ( NN % ) ( TO to ) ( CD 8 ) ( CD 11\/16 ) ( NN % ) ) ) ( NP ( CD two ) ( NNS months ) ) ) ) ( NP ( NP ( QP ( CD 8 ) ( CD 11\/16 ) ( NN % ) ( TO to ) ( CD 8 ) ( CD 9\/16 ) ( NN % ) ) ) ( NP ( CD three ) ( NNS months ) ) ) ( NP ( NP ( QP ( CD 8 ) ( CD 9\/16 ) ( NN % ) ( TO to ) ( CD 8 ) ( CD 7\/16 ) ( NN % ) ) ) ( NP ( CD four ) ( NNS months ) ) ) ( NP ( NP ( QP ( CD 8 ) ( CD 1\/2 ) ( NN % ) ( TO to ) ( CD 8 ) ( CD 3\/8 ) ( NN % ) ) ) ( NP ( CD five ) ( NNS months ) ) ) ( NP ( NP ( QP ( CD 8 ) ( CD 7\/16 ) ( NN % ) ( TO to ) ( CD 8 ) ( CD 5\/16 ) ( NN % ) ) ) ( NP ( CD six ) ( NNS months ) ) ) ) )

LONDON LATE EURODOLLARS 8 3\/4 % to 8 5\/8 % one month 8 13\/16 % to 8 11\/16 % two months 8 11\/16 % to 8 9\/16 % three months 8 9\/16 % to 8 7\/16 % four months 8 1\/2 % to 8 3\/8 % five months 8 7\/16 % to 8 5\/16 % six months


( NP ( NP ( NP ( NNP LONDON ) ( NNP INTERBANK ) ( NNP OFFERED ) ( NNP RATES ) ) ( PRN ( NP ( NNP LIBOR ) ) ) ) ( NP ( NP ( NP ( QP ( CD 8 ) ( CD 11\/16 ) ) ( NN % ) ) ( NP ( CD one ) ( NN month ) ) ) ( NP ( NP ( QP ( CD 8 ) ( CD 11\/16 ) ) ( NN % ) ) ( NP ( CD three ) ( NNS months ) ) ) ( NP ( NP ( QP ( CD 8 ) ( CD 7\/16 ) ) ( NN % ) ) ( NP ( CD six ) ( NNS months ) ) ) ( NP ( NP ( QP ( CD 8 ) ( CD 3\/8 ) ) ( NN % ) ) ( NP ( CD one ) ( NN year ) ) ) ) )

LONDON INTERBANK OFFERED RATES LIBOR 8 11\/16 % one month 8 11\/16 % three months 8 7\/16 % six months 8 3\/8 % one year


( NP ( NP ( NP ( DT The ) ( NN average ) ) ( PP ( IN of ) ( NP ( NP ( NN interbank ) ( VBN offered ) ( NNS rates ) ) ( PP ( IN for ) ( NP ( NP ( NN dollar ) ( NNS deposits ) ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( NNP London ) ( NN market ) ) ) ) ) ) ) ) ( VP ( VBN based ) ( PP-CLR ( IN on ) ( NP ( NP ( NNS quotations ) ) ( PP-LOC ( IN at ) ( NP ( CD five ) ( JJ major ) ( NNS banks ) ) ) ) ) ) )

The average of interbank offered rates for dollar deposits in the London market based on quotations at five major banks


( NP ( NP ( JJ FOREIGN ) ( JJ PRIME ) ( NNS RATES ) ) ( NP ( NP ( NP ( NNP Canada ) ) ( NP ( CD 13.50 ) ( NN % ) ) ) ( NP ( NP ( NNP Germany ) ) ( NP ( CD 9 ) ( NN % ) ) ) ( NP ( NP ( NNP Japan ) ) ( NP ( CD 4.875 ) ( NN % ) ) ) ( NP ( NP ( NNP Switzerland ) ) ( NP ( CD 8.50 ) ( NN % ) ) ) ( NP ( NP ( NNP Britain ) ) ( NP ( CD 15 ) ( NN % ) ) ) ) )

FOREIGN PRIME RATES Canada 13.50 % Germany 9 % Japan 4.875 % Switzerland 8.50 % Britain 15 %


( S ( S ( NP-SBJ ( DT These ) ( NN rate ) ( NNS indications ) ) ( VP ( VBP are ) ( RB n't ) ( ADJP-PRD ( RB directly ) ( JJ comparable ) ) ) ) ( S ( NP-SBJ ( NN lending ) ( NNS practices ) ) ( VP ( VBP vary ) ( ADVP ( RB widely ) ) ( PP-MNR ( IN by ) ( NP ( NN location ) ) ) ) ) )

These rate indications are n't directly comparable lending practices vary widely by location


( NP ( NP ( NNP TREASURY ) ( NNS BILLS ) ) ( NP ( NP ( NNS Results ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( NAC-TMP ( NNP Monday ) ( NNP October ) ( CD 30 ) ( CD 1989 ) ) ( NN auction ) ) ( PP ( IN of ) ( NP ( NP ( JJ short-term ) ( NNP U.S. ) ( NN government ) ( NNS bills ) ) ( VP ( VBD sold ) ( PP-CLR ( IN at ) ( NP ( NP ( DT a ) ( NN discount ) ) ( PP ( IN from ) ( NP ( NN face ) ( NN value ) ) ) ) ) ( PP-MNR ( IN in ) ( NP ( NP ( NNS units ) ) ( PP ( IN of ) ( NP ( QP ( CD 10,000 ) ( TO to ) ( CD 1 ) ( CD million ) ) ) ) ) ) ) ) ) ) ) ) ( NP ( NP ( NP ( CD 7.78 ) ( NN % ) ) ( NP ( CD 13 ) ( NNS weeks ) ) ) ( NP ( NP ( CD 7.62 ) ( NN % ) ) ( NP ( CD 26 ) ( NNS weeks ) ) ) ) )

TREASURY BILLS Results of the Monday October 30 1989 auction of short-term U.S. government bills sold at a discount from face value in units of 10,000 to 1 million 7.78 % 13 weeks 7.62 % 26 weeks


( NP ( NP ( NNP FEDERAL ) ( NNP HOME ) ( NNP LOAN ) ( NNP MORTGAGE ) ( NNP CORP. ) ) ( PRN ( NP ( NNP Freddie ) ( NNP Mac ) ) ) ( NP ( NP ( NP ( VBD Posted ) ( NNS yields ) ) ( PP ( IN on ) ( NP ( JJ 30-year ) ( NN mortgage ) ( NNS commitments ) ) ) ( PP ( IN for ) ( NP ( NP ( NN delivery ) ) ( PP-TMP ( IN within ) ( NP ( CD 30 ) ( NNS days ) ) ) ) ) ) ) )

FEDERAL HOME LOAN MORTGAGE CORP. Freddie Mac Posted yields on 30-year mortgage commitments for delivery within 30 days


( NP ( NP ( NP ( CD 9.86 ) ( NN % ) ) ( NP ( JJ standard ) ( JJ conventional ) ( JJ fixed-rate ) ( NNS mortgages ) ) ) ( NP ( NP ( CD 7.875 ) ( NN % ) ) ( NP ( ADJP ( CD 2 ) ( NN % ) ) ( NN rate ) ( VBD capped ) ( JJ one-year ) ( JJ adjustable ) ( NN rate ) ( NNS mortgages ) ) ) )

9.86 % standard conventional fixed-rate mortgages 7.875 % 2 % rate capped one-year adjustable rate mortgages


( NP ( NP ( NN Source ) ) ( NP ( NNP Telerate ) ( NNP Systems ) ( NNP Inc ) ) )

Source Telerate Systems Inc


( NP ( NP ( NNP FEDERAL ) ( NNP NATIONAL ) ( NNP MORTGAGE ) ( NNP ASSOCIATION ) ) ( PRN ( NP ( NNP Fannie ) ( NNP Mae ) ) ) ( NP ( NP ( VBD Posted ) ( NNS yields ) ) ( PP ( IN on ) ( NP ( CD 30 ) ( NN year ) ( NN mortgage ) ( NNS commitments ) ) ( PP ( IN for ) ( NP ( NP ( NN delivery ) ) ( PP-TMP ( IN within ) ( NP ( CD 30 ) ( NNS days ) ) ) ) ) ) ( PRN ( VP ( VBN priced ) ( PP-CLR ( IN at ) ( NP ( NN par ) ) ) ) ) ) )

FEDERAL NATIONAL MORTGAGE ASSOCIATION Fannie Mae Posted yields on 30 year mortgage commitments for delivery within 30 days priced at par


( NP ( NP ( NP ( CD 9.76 ) ( NN % ) ) ( NP ( JJ standard ) ( JJ conventional ) ( JJ fixed-rate ) ( NNS mortgages ) ) ) ( NP ( NP ( CD 8.75 ) ( NN % ) ) ( NP ( CD 6\/2 ) ( NN rate ) ( VBD capped ) ( JJ one-year ) ( JJ adjustable ) ( NN rate ) ( NNS mortgages ) ) ) )

9.76 % standard conventional fixed-rate mortgages 8.75 % 6\/2 rate capped one-year adjustable rate mortgages


Source Telerate Systems Inc


( NP ( NP ( NNP MERRILL ) ( NNP LYNCH ) ( NNP READY ) ( NNP ASSETS ) ( NNP TRUST ) ) ( NP ( CD 8.70 ) ( NN % ) ) )

MERRILL LYNCH READY ASSETS TRUST 8.70 %


( NP ( NP ( NP ( VBN Annualized ) ( JJ average ) ( NN rate ) ) ( PP ( IN of ) ( NP ( NN return ) ) ) ( PP ( IN after ) ( NP ( NNS expenses ) ) ) ( PP-TMP ( IN for ) ( NP ( DT the ) ( JJ past ) ( CD 30 ) ( NNS days ) ) ) ) ( RB not ) ( NP ( NP ( DT a ) ( NN forecast ) ) ( PP ( IN of ) ( NP ( JJ future ) ( NNS returns ) ) ) ) )

Annualized average rate of return after expenses for the past 30 days not a forecast of future returns


( FRAG ( INTJ ( UH Oh ) ) ( NP ( DT that ) ( JJ terrible ) ( NNP Mr. ) ( NNP Ortega ) ) )

Oh that terrible Mr. Ortega


( SINV ( SBAR-TMP ( WHADVP-3 ( RB Just ) ( WRB when ) ) ( S ( NP-SBJ ( JJ American ) ( NN liberalism ) ) ( VP ( VBD had ) ( VP ( VBN pulled ) ( NP ( DT the ) ( NNS arms ) ( NN plug ) ) ( PP-CLR ( IN on ) ( NP ( NP ( DT the ) ( NNS Contras ) ) ( CC and ) ( NP ( PRP$ their ) ( NN friend ) ( NNP Ronald ) ( NNP Reagan ) ) ) ) ) ) ) ) ( ADVP-DIR-TPC-2 ( IN along ) ) ( VP ( VBZ comes ) ) ( NP-SBJ-5 ( NNP Mr. ) ( NNP Ortega ) ) ( PP-LOC ( IN in ) ( NP ( NNP Costa ) ( NNP Rica ) ) ) ( NP-TMP ( DT this ) ( NN weekend ) ) ( S-ADV ( VP ( TO to ) ( VP ( VB blunder ) ( PP-DIR ( IN into ) ( NP ( NP ( DT the ) ( NNS hands ) ) ( PP ( IN of ) ( SBAR-NOM ( WHNP-1 ( WP what ) ) ( S ( VP ( VBP are ) ( ADVP-TMP ( RB often ) ) ( VP ( VBN called ) ( S ( NP-PRD ( NNS conservatives ) ) ) ) ) ) ) ) ) ) ) ) ) )

Just when American liberalism had pulled the arms plug on the Contras and their friend Ronald Reagan along comes Mr. Ortega in Costa Rica this weekend to blunder into the hands of what are often called conservatives


( S ( NP-SBJ ( NNS Conservatives ) ) ( VP ( VBP are ) ( NP-PRD ( NP ( DT the ) ( NN faction ) ) ( PP-LOC ( IN in ) ( NP ( NNP U.S. ) ( NNS politics ) ) ) ( SBAR ( WHNP-1 ( WDT which ) ) ( S ( ADVP-TMP ( RB always ) ) ( VP ( VBD said ) ( SBAR ( IN that ) ( S ( NP-SBJ-2 ( NP ( NNP Mr. ) ( NNP Ortega ) ) ( CC and ) ( NP ( PRP$ his ) ( NNS friends ) ) ) ( VP ( VBP do ) ( RB n't ) ( VP ( VB want ) ( S ( VP ( TO to ) ( VP ( VB hold ) ( NP ( DT an ) ( NN election ) ) ( PP-LOC ( IN in ) ( NP ( NNP Nicaragua ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Conservatives are the faction in U.S. politics which always said that Mr. Ortega and his friends do n't want to hold an election in Nicaragua


( S ( S ( NP-SBJ ( NNS Liberals ) ) ( VP ( VBP are ) ( NP-PRD ( NP ( DT the ) ( NN faction ) ) ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( VP ( VBZ says ) ( S ( VP ( VB Give ) ( NP ( NN peace ) ) ( NP ( DT a ) ( NN chance ) ) ) ) ) ) ) ) ) ) ( S ( ADVP-TMP ( RB now ) ) ( NP-SBJ ( PRP they ) ) ( VP ( VBP are ) ( VP ( VBG saying ) ( SBAR ( S ( NP-SBJ ( NNP Mr. ) ( NNP Ortega ) ) ( VP ( MD should ) ( VP ( VB give ) ( NP ( PRP them ) ) ( NP ( DT a ) ( NN break ) ) ) ) ) ) ( SBAR ( IN lest ) ( S ( NP-SBJ ( DT the ) ( NNS conservatives ) ) ( VP ( VB ask ) ( NP-2 ( PRP them ) ) ( S ( VP ( TO to ) ( VP ( VB vote ) ( PP-CLR ( IN for ) ( NP ( NP ( NNS bullets ) ) ( PP ( RB instead ) ( IN of ) ( NP ( NNS bandages ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Liberals are the faction that says Give peace a chance now they are saying Mr. Ortega should give them a break lest the conservatives ask them to vote for bullets instead of bandages


( S ( NP-SBJ ( PRP We ) ) ( VP ( VBP suspect ) ( SBAR ( S ( NP-SBJ ( NNP Daniel ) ( NNP Ortega ) ) ( VP ( VBZ knows ) ( NP ( NP ( DT the ) ( NN difference ) ) ( PP ( IN between ) ( NP ( NP ( DT a ) ( NN blunder ) ) ( CC and ) ( NP ( DT a ) ( NN strategy ) ) ) ) ) ) ) ) ) )

We suspect Daniel Ortega knows the difference between a blunder and a strategy


( S ( NP-SBJ ( PRP He ) ) ( VP ( VBZ knows ) ( SBAR ( SBAR ( IN that ) ( S ( S-NOM-SBJ ( VP ( VBG making ) ( S ( NP-SBJ ( NNP George ) ( NNP Bush ) ) ( VP ( VB look ) ( ADJP-PRD ( JJ silly ) ) ( PP-LOC ( IN in ) ( NP ( NP ( DT a ) ( NN photograph ) ) ( PP ( IN with ) ( NP ( PRP him ) ) ) ) ) ) ) ) ) ( VP ( MD will ) ( VP ( VB trigger ) ( NP ( JJ Noriegan ) ( NNS fulminations ) ) ) ) ) ) ( CC and ) ( SBAR ( IN that ) ( S ( S-NOM-SBJ ( VP ( VBG announcing ) ( NP ( NP ( DT an ) ( NN end ) ) ( PP ( TO to ) ( NP ( NP ( DT the ) ( NNS liberals ) ( POS ' ) ) ( NN cease-fire ) ) ) ) ) ) ( VP ( MD will ) ( VP ( VB produce ) ( ADVP ( RB mainly ) ) ( NP ( NP ( PRP$ their ) ( NN concern ) ) ( PP ( IN over ) ( NP ( NP ( NP ( DT the ) ( NNP Contras ) ( POS ' ) ) ( JJ military ) ( NNS activities ) ) ( PP-LOC ( IN in ) ( NP ( JJ northern ) ( NNP Nicaragua ) ) ) ) ) ) ) ) ) ) ) ) )

He knows that making George Bush look silly in a photograph with him will trigger Noriegan fulminations and that announcing an end to the liberals ' cease-fire will produce mainly their concern over the Contras ' military activities in northern Nicaragua


( S ( NP-SBJ ( NNP Mr. ) ( NNP Ortega ) ) ( VP ( VBZ understands ) ( ADVP ( ADVP ( RBR better ) ) ( PP ( IN than ) ( NP ( NP ( DT those ) ) ( SBAR ( WHNP-1 ( WP who ) ) ( S ( VP ( VBP worry ) ( PP-CLR ( IN about ) ( NP ( PRP$ his ) ( NN behavior ) ) ) ) ) ) ) ) ) ( SBAR ( IN that ) ( S ( SBAR-NOM-SBJ ( WHNP-2 ( WP what ) ) ( S ( VP ( VBZ sustains ) ( NP ( DT the ) ( NNP Sandinista ) ( NN movement ) ) ) ) ) ( VP ( VBZ is ) ( NP-PRD ( RB not ) ( NP ( JJ democratic ) ( NN peace ) ) ( CC but ) ( NP ( JJ nondemocratic ) ( NN unpeace ) ) ) ) ) ) ) )

Mr. Ortega understands better than those who worry about his behavior that what sustains the Sandinista movement is not democratic peace but nondemocratic unpeace


( S ( NP-SBJ ( PRP It ) ) ( VP ( VBZ is ) ( NP-PRD ( NP ( DT the ) ( NN presence ) ) ( PP ( IN of ) ( NP ( ADJP ( JJ internal ) ( CC and ) ( JJ external ) ) ( NNS enemies ) ) ) ( SBAR ( WHNP-1 ( WDT which ) ) ( S ( VP ( VBZ justifies ) ( NP ( NP ( DT the ) ( NN need ) ) ( PP ( IN for ) ( NP ( NP ( DT a ) ( JJ large ) ( JJ active ) ( NN army ) ) ( SBAR ( WHNP-2 ( IN that ) ) ( S ( NP-SBJ-3 ( NP ( NNP Mikhail ) ( NNP Gorbachev ) ( POS 's ) ) ( NNP Soviet ) ( NNP Union ) ) ( VP ( VBZ continues ) ( S ( VP ( TO to ) ( VP ( VB supply ) ( PP-CLR ( IN with ) ( NP ( NNS bullets ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

It is the presence of internal and external enemies which justifies the need for a large active army that Mikhail Gorbachev 's Soviet Union continues to supply with bullets


( S ( NP-SBJ ( NNP Dataproducts ) ( NNP Inc. ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ-1 ( PRP it ) ) ( VP ( VBD filed ) ( NP ( DT a ) ( NN lawsuit ) ) ( PP-LOC ( IN in ) ( NP ( NNP Delaware ) ( NNP Chancery ) ( NNP Court ) ) ) ( S-PRP ( VP ( TO to ) ( VP ( VB block ) ( NP ( NP ( DT a ) ( NN tender ) ( NN offer ) ) ( PP ( IN by ) ( NP ( NNP DPC ) ( NNP Acquisition ) ( NNP Partners ) ) ) ) ) ) ) ( S-ADV ( VP ( VBG alleging ) ( SBAR ( IN that ) ( S ( NP-SBJ ( DT the ) ( NN hostile ) ( NN offer ) ) ( VP ( VBZ violates ) ( NP ( NP ( DT a ) ( JJ standstill ) ( NN agreement ) ) ( PP ( IN between ) ( NP ( DT the ) ( CD two ) ( NNS concerns ) ) ) ) ) ) ) ) ) ) ) ) ) )

Dataproducts Inc. said it filed a lawsuit in Delaware Chancery Court to block a tender offer by DPC Acquisition Partners alleging that the hostile offer violates a standstill agreement between the two concerns


( S ( NP-SBJ-1 ( NP ( NNP DPC ) ) ( NP ( NP ( DT an ) ( NN investor ) ( NN group ) ) ( VP ( VBN led ) ( PP ( IN by ) ( NP-LGS ( ADJP ( NNP New ) ( JJ York-based ) ) ( NNP Crescott ) ( NNP Investment ) ( NNP Associates ) ) ) ) ) ) ( VP ( VBD had ) ( NP-ADV ( PRP itself ) ) ( VP ( VBD filed ) ( NP ( DT a ) ( NN suit ) ) ( PP-LOC ( IN in ) ( NP ( NP ( NN state ) ( NN court ) ) ( PP-LOC ( IN in ) ( NP ( NNP Los ) ( NNP Angeles ) ) ) ) ) ( S-ADV ( VP ( VBG seeking ) ( S ( VP ( TO to ) ( VP ( VB nullify ) ( NP ( DT the ) ( NN agreement ) ) ) ) ) ) ) ) ) )

DPC an investor group led by New York-based Crescott Investment Associates had itself filed a suit in state court in Los Angeles seeking to nullify the agreement


( S ( NP-TMP ( RBR Earlier ) ( DT this ) ( NN year ) ) ( NP-SBJ-1 ( NNP Dataproducts ) ) ( VP ( VBD had ) ( VP ( VBN rejected ) ( NP ( NP ( DT a ) ( ADJP ( ADJP ( CD 15 ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ( NN offer ) ) ( PP ( IN from ) ( NP ( NNP DPC ) ) ) ) ( S-ADV ( VP ( VBG saying ) ( SBAR ( S ( NP-SBJ-2 ( PRP it ) ) ( VP ( VBD was ) ( RB n't ) ( VP ( ADVP ( RB adequately ) ) ( VBN financed ) ) ) ) ) ) ) ) ) )

Earlier this year Dataproducts had rejected a 15 a share offer from DPC saying it was n't adequately financed


( S ( NP-SBJ ( NNP DPC ) ) ( NP-TMP ( JJ last ) ( NN week ) ) ( VP ( VBD launched ) ( NP ( NP ( DT a ) ( JJ new ) ( ADJP ( JJ 10-a-share ) ) ( NN offer ) ) ( PP ( IN for ) ( NP ( DT the ) ( ADJP ( NNP Woodland ) ( NNP Hills ) ( JJ Calif.-based ) ) ( NN computer ) ( NN printer ) ( NN maker ) ) ) ) ) )

DPC last week launched a new 10-a-share offer for the Woodland Hills Calif.-based computer printer maker


( S ( NP-SBJ ( NNP DPC ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( PRP it ) ) ( VP ( MD could ) ( RB n't ) ( VP ( VB comment ) ( PP-CLR ( IN on ) ( NP ( DT the ) ( NN suit ) ) ) ) ) ) ) ) )

DPC said it could n't comment on the suit


( S ( NP-SBJ ( NP ( NNP Gen-Probe ) ( NNP Inc. ) ) ( NP ( DT a ) ( NN biotechnology ) ( NN concern ) ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBD signed ) ( NP ( DT a ) ( JJ definitive ) ( NN agreement ) ( S ( VP ( TO to ) ( VP ( VB be ) ( VP ( VBN acquired ) ( PP ( IN by ) ( NP-LGS ( NP ( NNP Chugai ) ( NNP Pharmaceutical ) ( NNP Co. ) ) ( PP ( IN of ) ( NP ( NNP Tokyo ) ) ) ) ) ( PP-CLR ( IN for ) ( NP ( NP ( QP ( RB about ) ( CD 110 ) ( CD million ) ) ) ( CC or ) ( NP ( NP ( QP ( RB almost ) ( RB double ) ) ( DT the ) ( NN market ) ( NN price ) ) ( PP ( IN of ) ( NP ( NP ( NNP Gen-Probe ) ( POS 's ) ) ( NN stock ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Gen-Probe Inc. a biotechnology concern said it signed a definitive agreement to be acquired by Chugai Pharmaceutical Co. of Tokyo for about 110 million or almost double the market price of Gen-Probe 's stock


( S ( NP-SBJ-1 ( DT The ) ( NN move ) ) ( VP ( VBZ is ) ( ADJP-PRD ( JJ sure ) ( S ( VP ( TO to ) ( VP ( VB heighten ) ( NP ( NP ( NNS concerns ) ) ( PP ( IN about ) ( NP ( NP ( VBN increased ) ( JJ Japanese ) ( NN investment ) ) ( PP-LOC ( IN in ) ( NP ( NNP U.S. ) ( NN biotechnology ) ( NNS firms ) ) ) ) ) ) ) ) ) ) ) )

The move is sure to heighten concerns about increased Japanese investment in U.S. biotechnology firms


( S ( NP-SBJ-1 ( PRP It ) ) ( VP ( VBZ is ) ( ADVP ( RB also ) ) ( ADJP-PRD ( JJ likely ) ( S ( VP ( TO to ) ( VP ( VB bolster ) ( NP ( NNS fears ) ( SBAR ( IN that ) ( S ( NP-SBJ-2 ( DT the ) ( NNP Japanese ) ) ( VP ( MD will ) ( VP ( VB use ) ( NP ( NP ( PRP$ their ) ( NN foothold ) ) ( PP-LOC ( IN in ) ( NP ( NNP U.S. ) ( NN biotechnology ) ( NNS concerns ) ) ) ) ( S-CLR ( VP ( TO to ) ( VP ( VB gain ) ( NP ( JJ certain ) ( UCP ( NN trade ) ( CC and ) ( JJ competitive ) ) ( NNS advantages ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

It is also likely to bolster fears that the Japanese will use their foothold in U.S. biotechnology concerns to gain certain trade and competitive advantages


( S ( NP-SBJ ( NP ( NNP Gen-Probe ) ) ( NP ( NP ( DT an ) ( NN industry ) ( NN leader ) ) ( PP-LOC ( IN in ) ( NP ( NP ( DT the ) ( NN field ) ) ( PP ( IN of ) ( NP ( NP ( JJ genetic ) ( NNS probes ) ) ( SBAR ( WHNP-2 ( WDT which ) ) ( S ( VP ( VBZ is ) ( NP-PRD ( NP ( DT a ) ( JJ new ) ( NN technology ) ) ( VP ( VBN used ) ( PP-LOC ( IN in ) ( NP ( JJ diagnostic ) ( NNS tests ) ) ) ) ) ) ) ) ) ) ) ) ) ) ( NP-TMP ( JJ last ) ( NN year ) ) ( VP ( VBD signed ) ( NP ( DT an ) ( NN agreement ) ( SBAR ( IN for ) ( S ( NP-SBJ ( NNP Chugai ) ) ( VP ( TO to ) ( VP ( ADVP ( RB exclusively ) ) ( VB market ) ( NP ( NP ( PRP$ its ) ( JJ diagnostic ) ( NNS products ) ) ) ( PP-LOC ( IN in ) ( NP ( NNP Japan ) ) ) ( PP-1 ( IN for ) ( NP ( NP ( JJ infectious ) ( NNS diseases ) ) ( CC and ) ( NP ( NN cancer ) ) ) ) ) ) ) ) ) ) )

Gen-Probe an industry leader in the field of genetic probes which is a new technology used in diagnostic tests last year signed an agreement for Chugai to exclusively market its diagnostic products in Japan for infectious diseases and cancer


( S ( NP-SBJ-1 ( NNP Chugai ) ) ( VP ( VBD agreed ) ( ADVP-TMP ( RB then ) ) ( S ( VP ( TO to ) ( VP ( VB fund ) ( NP ( JJ certain ) ( VBN associated ) ( NN research ) ( CC and ) ( NN development ) ( NNS costs ) ) ) ) ) ) )

Chugai agreed then to fund certain associated research and development costs


( S ( S ( NP-SBJ ( DT That ) ( NN arrangement ) ) ( ADVP ( RB apparently ) ) ( VP ( VBZ has ) ( VP ( VBN worked ) ( ADVP-MNR ( RB well ) ) ) ) ) ( CC and ) ( S ( NP-SBJ ( NP ( NNP Thomas ) ( NNP A. ) ( NNP Bologna ) ) ( NP ( NP ( NP ( NN president ) ) ( CC and ) ( NP ( JJ chief ) ( JJ executive ) ( NN officer ) ) ) ( PP ( IN of ) ( NP ( NP ( NNP Gen-Probe ) ) ( VP ( VBN founded ) ( PP-TMP ( IN in ) ( NP ( CD 1983 ) ) ) ) ) ) ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( NP ( DT the ) ( NN sale ) ) ( PP ( IN of ) ( NP ( DT the ) ( NN company ) ) ) ) ( VP ( VBZ means ) ( SBAR ( S ( NP-SBJ-1 ( PRP we ) ) ( VP ( MD will ) ( VP ( VB be ) ( ADJP-PRD ( JJ able ) ( S ( VP ( TO to ) ( VP ( VB concentrate ) ( PP-CLR ( IN on ) ( S-NOM ( VP ( VP ( VBG running ) ( NP ( DT the ) ( NN business ) ) ) ( CONJP ( RB rather ) ( IN than ) ) ( VP ( ADVP-TMP ( RB always ) ) ( VBG looking ) ( PP-CLR ( IN for ) ( NP ( NP ( NNS sources ) ) ( PP ( IN of ) ( NP ( NN financing ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

That arrangement apparently has worked well and Thomas A. Bologna president and chief executive officer of Gen-Probe founded in 1983 said the sale of the company means we will be able to concentrate on running the business rather than always looking for sources of financing


( S ( NP-SBJ-1 ( NNP Chugai ) ) ( VP ( VBD agreed ) ( S ( VP ( TO to ) ( VP ( VB pay ) ( NP ( NP ( CD 6.25 ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ( PP-CLR ( IN for ) ( NP ( NP ( NP ( NNP Gen-Probe ) ( POS 's ) ) ( QP ( CD 17.6 ) ( CD million ) ) ( JJ common ) ( NNS shares ) ) ( ADJP ( JJ outstanding ) ) ) ) ( PP ( IN on ) ( NP ( DT a ) ( ADJP ( RB fully ) ( VBN diluted ) ) ( NN basis ) ) ) ) ) ) ) )

Chugai agreed to pay 6.25 a share for Gen-Probe 's 17.6 million common shares outstanding on a fully diluted basis


( S ( NP-TMP ( NN Yesterday ) ) ( PP-LOC ( IN in ) ( NP ( NP ( JJ national ) ( NN trading ) ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( JJ over-the-counter ) ( NN market ) ) ) ) ) ( NP-SBJ ( NNP Gen-Probe ) ( NN common ) ) ( VP ( VBD closed ) ( PP-CLR ( IN at ) ( NP ( NP ( CD 3.25 ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ) )

Yesterday in national trading in the over-the-counter market Gen-Probe common closed at 3.25 a share


( S ( SBAR-PRP ( IN Because ) ( S ( NP-SBJ ( DT the ) ( NNP U.S. ) ) ( VP ( VBZ leads ) ( PP-CLR ( IN in ) ( NP ( NP ( JJS most ) ( NNS areas ) ) ( PP ( IN of ) ( NP ( NN biotechnology ) ) ) ) ) ( PP-PRP ( ADVP ( RB largely ) ) ( IN because ) ( IN of ) ( NP ( NP ( NN research ) ( NN investment ) ) ( PP ( IN by ) ( NP-LGS ( DT the ) ( NNP U.S. ) ( NN government ) ) ) ) ) ) ) ) ( NP-SBJ-1 ( DT the ) ( NN sale ) ) ( VP ( VBZ is ) ( ADJP-PRD ( JJ sure ) ( S ( VP ( TO to ) ( VP ( VB increase ) ( NP ( NNS concerns ) ( SBAR ( IN that ) ( S ( NP-SBJ-2 ( JJ Japanese ) ( NNS companies ) ) ( VP ( MD will ) ( VP ( VP ( VB buy ) ( NP ( NNP American ) ( NN know-how ) ) ) ( CC and ) ( VP ( VB use ) ( NP ( PRP it ) ) ( S-CLR ( VP ( TO to ) ( VP ( VB obtain ) ( NP ( DT the ) ( JJ upper ) ( NN hand ) ) ( PP-LOC ( IN in ) ( NP ( NN biotechnology ) ( NN trade ) ( CC and ) ( NN competition ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Because the U.S. leads in most areas of biotechnology largely because of research investment by the U.S. government the sale is sure to increase concerns that Japanese companies will buy American know-how and use it to obtain the upper hand in biotechnology trade and competition


( SINV ( S-TPC-1 ( NP-SBJ ( DT The ) ( NN biotechnology ) ( NNS firms ) ) ( VP ( MD may ) ( VP ( VB be ) ( VP ( VBG setting ) ( PRT ( RP up ) ) ( NP ( PRP$ their ) ( JJ own ) ( NNS competitors ) ) ) ) ) ) ( VP ( VBD said ) ) ( NP-SBJ ( NP ( NNP Richard ) ( NNP Godown ) ) ( NP ( NP ( NN president ) ) ( PP ( IN of ) ( NP ( DT the ) ( NNP Industrial ) ( NNP Biotechnology ) ( NNP Association ) ) ) ) ) )

The biotechnology firms may be setting up their own competitors said Richard Godown president of the Industrial Biotechnology Association


( S ( NP-SBJ ( PRP He ) ) ( VP ( VBD added ) ( SBAR ( IN that ) ( S ( PP-TMP ( IN until ) ( ADVP ( RB now ) ) ) ( NP-SBJ ( DT the ) ( NNS Japanese ) ) ( VP ( VBP have ) ( VP ( ADVP ( RB only ) ) ( VBN acquired ) ( NP ( NP ( NN equity ) ( NNS positions ) ) ( PP-LOC ( IN in ) ( NP ( NNP U.S. ) ( NN biotechnology ) ( NNS companies ) ) ) ) ) ) ) ) ) )

He added that until now the Japanese have only acquired equity positions in U.S. biotechnology companies


( S ( S-TPC-1 ( NP-SBJ ( PRP They ) ) ( VP ( VBP are ) ( VP ( VBG piggybacking ) ( PP-CLR ( IN onto ) ( NP ( VBN developed ) ( NN technology ) ) ) ) ) ) ( NP-SBJ ( PRP he ) ) ( VP ( VBD said ) ) )

They are piggybacking onto developed technology he said


( S ( PP-TMP ( IN During ) ( NP ( DT the ) ( JJ past ) ( CD five ) ( NNS years ) ) ) ( NP-SBJ ( JJ Japanese ) ( NNS concerns ) ) ( VP ( VBP have ) ( VP ( VBN invested ) ( PP-CLR ( IN in ) ( NP ( NP ( JJ several ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( NNP U.S. ) ( POS 's ) ) ( CD 431 ) ( JJ independent ) ( NN biotechnology ) ( NNS companies ) ) ) ) ) ) ) )

During the past five years Japanese concerns have invested in several of the U.S. 's 431 independent biotechnology companies


( S ( S ( NP-SBJ ( NNP Chugai ) ) ( VP ( VBZ has ) ( VP ( VBN been ) ( NP-PRD ( NP ( CD one ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( ADJP ( RBS most ) ( JJ active ) ) ( JJ Japanese ) ( NNS players ) ) ( PP-LOC ( IN in ) ( NP ( NNP U.S. ) ( NN biotechnology ) ( NNS companies ) ) ) ) ) ) ) ) ) ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBZ has ) ( NP ( NP ( NP ( DT an ) ( NN equity ) ( NN investment ) ) ( PP-LOC ( IN in ) ( NP ( NP ( NNP Genetics ) ( NNP Institute ) ( NNP Inc. ) ) ( NP-LOC ( NP ( NNP Cambridge ) ) ( NP ( NNP Mass. ) ) ) ) ) ) ( CC and ) ( NP ( NP ( DT a ) ( JJ joint-venture ) ( NN agreement ) ) ( PP ( IN with ) ( NP ( NP ( NNP Upjohn ) ( NNP Co. ) ) ( NP-LOC ( NP ( NNP Kalamazoo ) ) ( NP ( NNP Mich ) ) ) ) ) ) ) ) ) )

Chugai has been one of the most active Japanese players in U.S. biotechnology companies it has an equity investment in Genetics Institute Inc. Cambridge Mass. and a joint-venture agreement with Upjohn Co. Kalamazoo Mich


( S-1 ( NP-SBJ ( DT The ) ( JJ Japanese ) ( NN government ) ) ( PRN ( S ( NP-SBJ ( NNP Mr. ) ( NNP Godown ) ) ( VP ( VBD said ) ) ) ) ( VP ( VBZ has ) ( VP ( VBN stated ) ( SBAR ( IN that ) ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBZ wants ) ( S ( NP-SBJ ( NP ( QP ( CD 10 ) ( NN % ) ( TO to ) ( CD 11 ) ( NN % ) ) ) ( PP ( IN of ) ( NP ( PRP$ its ) ( JJ gross ) ( JJ national ) ( NN product ) ) ) ) ( VP ( TO to ) ( VP ( VB come ) ( PP-CLR ( IN from ) ( NP ( NN biotechnology ) ( NNS products ) ) ) ) ) ) ) ) ) ) ) )

The Japanese government Mr. Godown said has stated that it wants 10 % to 11 % of its gross national product to come from biotechnology products


( S ( S-1 ( NP-SBJ ( PRP It ) ) ( VP ( VBZ is ) ( VP ( VBG becoming ) ( NP-PRD ( NP ( JJR more ) ) ( PP ( IN of ) ( NP ( NP ( DT a ) ( NN horse ) ( NN race ) ) ) ) ) ( NP-TMP ( DT every ) ( NN day ) ) ( PP-2 ( IN between ) ( NP ( NP ( DT the ) ( NNP U.S. ) ) ( CC and ) ( NP ( NNP Japan ) ) ) ) ) ) ) ( NP-SBJ-3 ( PRP he ) ) ( VP ( VBD said ) ( S-ADV ( VP ( VBG adding ) ( SBAR ( IN that ) ( S ( NP-SBJ ( DT some ) ) ( VP ( VBP fear ) ( SBAR ( IN that ) ( S ( PP ( IN as ) ( PP ( IN with ) ( NP ( DT the ) ( NN semiconductor ) ( NNS electronics ) ( CC and ) ( NN automobile ) ( NNS industries ) ) ) ) ( NP-SBJ-4 ( JJ Japanese ) ( NNS companies ) ) ( VP ( MD will ) ( VP ( VB use ) ( NP ( JJ U.S.-developed ) ( NN technology ) ) ( S-CLR ( VP ( TO to ) ( VP ( VB gain ) ( NP ( NN trade ) ( NNS advantages ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

It is becoming more of a horse race every day between the U.S. and Japan he said adding that some fear that as with the semiconductor electronics and automobile industries Japanese companies will use U.S.-developed technology to gain trade advantages


( S ( NP-SBJ ( NNP Mr. ) ( NNP Bologna ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( DT the ) ( NN sale ) ) ( VP ( MD would ) ( VP ( VB allow ) ( S ( NP-SBJ-1 ( NNP Gen-Probe ) ) ( VP ( VP ( TO to ) ( VP ( VB speed ) ( PRT ( RP up ) ) ( NP ( NP ( DT the ) ( NN development ) ) ( PP ( IN of ) ( NP ( JJ new ) ( NN technology ) ) ) ) ) ) ( CC and ) ( VP ( TO to ) ( ADVP-MNR ( RBR more ) ( RB quickly ) ) ( VP ( VB apply ) ( NP ( VBG existing ) ( NN technology ) ) ( PP-CLR ( TO to ) ( NP ( NP ( DT an ) ( NN array ) ) ( PP ( IN of ) ( NP ( NP ( JJ diagnostic ) ( NNS products ) ) ( SBAR ( S ( NP-SBJ-3 ( DT the ) ( NN company ) ) ( VP ( VBZ wants ) ( S ( VP ( TO to ) ( VP ( VB offer ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Mr. Bologna said the sale would allow Gen-Probe to speed up the development of new technology and to more quickly apply existing technology to an array of diagnostic products the company wants to offer


( S ( PP-TMP ( IN By ) ( NP ( NP ( CD 1988 ) ) ( SBAR ( WHADVP-3 ( WRB when ) ) ( S ( NP-SBJ-2 ( NP ( QP ( RB only ) ( CD 10 ) ) ( JJ genetic ) ( JJ probe-based ) ( NNS tests ) ) ( PP ( IN of ) ( NP ( NP ( JJ diagnostic ) ( JJ infectious ) ( NNS diseases ) ) ( PP ( IN of ) ( NP ( NNS humans ) ) ) ) ) ) ( VP ( VBD had ) ( VP ( VBN been ) ( VP ( VBN approved ) ( PP-PRP ( IN for ) ( NP ( VBG marketing ) ) ) ( PP ( IN by ) ( NP-LGS ( DT the ) ( NNP Food ) ( CC and ) ( NNP Drug ) ( NNP Administration ) ) ) ) ) ) ) ) ) ) ( NP-SBJ-4 ( NP ( CD eight ) ) ( PP ( IN of ) ( NP ( PRP them ) ) ) ) ( VP ( VBD had ) ( VP ( VBN been ) ( VP ( VBN developed ) ( CC and ) ( VBN sold ) ( PP ( IN by ) ( NP-LGS ( NNP Gen-Probe ) ) ) ) ) ) )

By 1988 when only 10 genetic probe-based tests of diagnostic infectious diseases of humans had been approved for marketing by the Food and Drug Administration eight of them had been developed and sold by Gen-Probe


( S ( NP-SBJ-3 ( NP ( NNP Osamu ) ( NNP Nagayama ) ) ( NP ( NP ( NN deputy ) ( NN president ) ) ( PP ( IN of ) ( NP ( NP ( NNP Chugai ) ) ( SBAR ( WHNP-1 ( WDT which ) ) ( S ( VP ( VBZ spends ) ( NP ( NP ( QP ( RB about ) ( CD 15 ) ) ( NN % ) ) ( PP ( IN of ) ( NP ( PRP$ its ) ( NNS sales ) ) ) ) ( PP-CLR ( IN on ) ( NP ( NN research ) ( CC and ) ( NN development ) ) ) ) ) ) ) ) ) ) ( VP ( VBD was ) ( ADJP-PRD ( JJ unable ) ( S ( VP ( TO to ) ( VP ( VB pinpoint ) ( SBAR ( WHNP-2 ( WHADJP ( WRB how ) ( JJ much ) ) ( NN money ) ) ( S ( NP-SBJ ( NNP Chugai ) ) ( VP ( MD would ) ( VP ( VB pump ) ( PP-CLR ( IN into ) ( NP ( NNP Gen-Probe ) ) ) ) ) ) ) ) ) ) ) ) )

Osamu Nagayama deputy president of Chugai which spends about 15 % of its sales on research and development was unable to pinpoint how much money Chugai would pump into Gen-Probe


( S ( S-TPC-1 ( NP-SBJ ( PRP We ) ) ( VP ( VBP think ) ( SBAR ( S ( NP-SBJ ( NNP Gen-Probe ) ) ( VP ( VBZ has ) ( NP ( NP ( NN technology ) ) ( ADJP ( JJ important ) ( PP ( TO to ) ( NP ( NP ( NNS people ) ( POS 's ) ) ( NN health ) ) ) ) ) ) ) ) ) ) ( NP-SBJ-3 ( PRP he ) ) ( VP ( VBD said ) ( S-ADV ( VP ( VBG adding ) ( S ( NP-SBJ ( PRP We ) ) ( VP ( VBP think ) ( SBAR ( S ( NP-SBJ ( NP ( PRP it ) ) ) ( VP ( VBZ is ) ( ADJP-PRD ( JJ important ) ) ( SBAR-4 ( IN for ) ( S ( NP-SBJ ( PRP us ) ) ( VP ( TO to ) ( VP ( VB have ) ( NP ( JJ such ) ( NN technology ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

We think Gen-Probe has technology important to people 's health he said adding We think it is important for us to have such technology


( S ( NP-SBJ ( NP ( PRP He ) ) ( CC and ) ( NP ( NNP Mr. ) ( NNP Bologna ) ) ) ( VP ( VBD emphasized ) ( SBAR ( IN that ) ( S ( NP-SBJ ( DT both ) ( NNS companies ) ) ( VP ( MD would ) ( VP ( VB gain ) ( NP ( JJ technological ) ( NN knowledge ) ) ( PP-MNR ( IN through ) ( NP ( NP ( DT the ) ( NN sale ) ) ( PP ( IN of ) ( NP ( NP ( NNP Gen-Probe ) ) ( SBAR ( WHNP-1 ( WDT which ) ) ( S ( VP ( MD will ) ( VP ( VB expand ) ( ADVP ( RB significantly ) ) ( PP ( IN as ) ( NP ( NP ( DT a ) ( NN result ) ) ( PP ( IN of ) ( NP ( DT the ) ( NN acquisition ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

He and Mr. Bologna emphasized that both companies would gain technological knowledge through the sale of Gen-Probe which will expand significantly as a result of the acquisition


( S ( PP-TMP ( IN In ) ( NP ( CD 1988 ) ) ) ( NP-SBJ ( NNP Chugai ) ) ( VP ( VBD had ) ( NP ( NP ( JJ net ) ( NN income ) ) ( PP ( IN of ) ( NP ( QP ( CD 60 ) ( CD million ) ) ) ) ) ( PP ( IN on ) ( NP ( NP ( NN revenue ) ) ( PP ( IN of ) ( NP ( QP ( CD 991 ) ( CD million ) ) ) ) ) ) ) )

In 1988 Chugai had net income of 60 million on revenue of 991 million


( S ( NP-SBJ ( NN GenProbe ) ) ( VP ( VBD had ) ( NP ( NP ( DT a ) ( JJ net ) ( NN loss ) ) ( PP ( IN of ) ( NP ( QP ( CD 9.5 ) ( CD million ) ) ) ) ) ( PP ( IN on ) ( NP ( NP ( NN revenue ) ) ( PP ( IN of ) ( NP ( CD 5.8 ) ( CD million ) ) ) ) ) ) )

GenProbe had a net loss of 9.5 million on revenue of 5.8 million


( S ( ADVP-TMP ( RB Recently ) ) ( NP-SBJ ( NNP Gen-Probe ) ) ( VP ( VBD received ) ( NP ( NP ( DT a ) ( JJ broad ) ( NNP U.S. ) ( NN patent ) ) ( PP ( IN for ) ( NP ( NP ( DT a ) ( NN technology ) ) ( SBAR ( WHNP-2 ( WDT that ) ) ( S ( VP ( VBZ helps ) ( VP ( VB detect ) ( VB identify ) ( CC and ) ( VB quantify ) ( NP ( JJ non-viral ) ( NNS organisms ) ) ( PP-MNR ( IN through ) ( NP ( NP ( DT the ) ( VBG targeting ) ) ( PP ( IN of ) ( NP ( NP ( DT a ) ( NN form ) ) ( PP ( IN of ) ( NP ( NP ( JJ genetic ) ( NN material ) ) ( VP ( VBN called ) ( S ( NP-PRD ( JJ ribosomal ) ( NNP RNA ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Recently Gen-Probe received a broad U.S. patent for a technology that helps detect identify and quantify non-viral organisms through the targeting of a form of genetic material called ribosomal RNA


( S ( PP ( IN Among ) ( NP ( JJ other ) ( NNS things ) ) ) ( NP-SBJ ( NNP Mr. ) ( NNP Bologna ) ) ( VP ( VBD said ) ( SBAR ( IN that ) ( S ( NP-SBJ ( DT the ) ( NN sale ) ) ( VP ( MD will ) ( VP ( VB facilitate ) ( NP ( NP ( NP ( NNP Gen-Probe ) ( POS 's ) ) ( NN marketing ) ) ( PP ( IN of ) ( NP ( NP ( DT a ) ( JJ diagnostic ) ( NN test ) ) ( PP ( IN for ) ( NP ( NP ( VBN acquired ) ( JJ immune ) ( NN deficiency ) ( NN syndrome ) ) ( CC or ) ( NP ( NNP AIDS ) ) ) ) ) ) ) ) ) ) ) ) )

Among other things Mr. Bologna said that the sale will facilitate Gen-Probe 's marketing of a diagnostic test for acquired immune deficiency syndrome or AIDS


( S ( S-TPC-1 ( NP-SBJ ( NNP Chugai ) ) ( ADVP ( RB also ) ) ( VP ( MD will ) ( VP ( VB help ) ( NP ( NNP Gen-Probe ) ) ( PP-MNR ( IN with ) ( NP ( NP ( PRP$ its ) ( ADJP ( JJ regulatory ) ( CC and ) ( NN marketing ) ) ( NN expertise ) ) ( PP-LOC ( IN in ) ( NP ( NNP Asia ) ) ) ) ) ) ) ) ( NP-SBJ ( NNP Mr. ) ( NNP Bologna ) ) ( VP ( VBD said ) ) )

Chugai also will help Gen-Probe with its regulatory and marketing expertise in Asia Mr. Bologna said


( S ( S-TPC-2 ( NP-SBJ-1 ( NP ( DT The ) ( NN tender ) ( NN offer ) ) ( PP ( IN for ) ( NP ( NP ( NNP Gen-Probe ) ( POS 's ) ) ( NNS shares ) ) ) ) ( VP ( VBZ is ) ( VP ( VBN expected ) ( S ( VP ( TO to ) ( VP ( VB begin ) ( NP-TMP-CLR ( JJ next ) ( NNP Monday ) ) ) ) ) ) ) ) ( NP-SBJ ( DT the ) ( NN company ) ) ( VP ( VBD said ) ) )

The tender offer for Gen-Probe 's shares is expected to begin next Monday the company said


( S ( NP-SBJ-1 ( NNP Vernon ) ( NNP E. ) ( NNP Jordan ) ) ( VP ( VBD was ) ( VP ( VBN elected ) ( PP-CLR ( TO to ) ( NP ( NP ( DT the ) ( NN board ) ) ( PP ( IN of ) ( NP ( DT this ) ( NN transportation ) ( NNS services ) ( NN concern ) ) ) ) ) ) ) )

Vernon E. Jordan was elected to the board of this transportation services concern


( S ( NP-SBJ ( NNP Mr. ) ( NNP Jordan ) ) ( VP ( VBZ has ) ( VP ( VBN served ) ( PP-CLR ( IN as ) ( NP ( NP ( NP ( JJ executive ) ( NN director ) ) ( PP ( IN of ) ( NP ( DT the ) ( NNP United ) ( NNP Negro ) ( NNP College ) ( NNP Fund ) ) ) ) ( NP ( NP ( NN director ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( NNP Voter ) ( NNP Education ) ( NNP Project ) ) ( PP ( IN of ) ( NP ( DT the ) ( NNP Southern ) ( NNP Regional ) ( NNP Council ) ) ) ) ) ) ( CC and ) ( NP ( NP ( NN attorney-consultant ) ) ( PP ( TO to ) ( NP ( NP ( DT the ) ( NNP U.S. ) ( NNP Office ) ) ( PP ( IN of ) ( NP ( NNP Economic ) ( NNP Opportunity ) ) ) ) ) ) ) ) ) ) )

Mr. Jordan has served as executive director of the United Negro College Fund director of the Voter Education Project of the Southern Regional Council and attorney-consultant to the U.S. Office of Economic Opportunity


( S ( NP-SBJ ( PRP$ His ) ( NN election ) ) ( VP ( VBZ increases ) ( NP ( NP ( NNP Ryder ) ( POS 's ) ) ( NN board ) ) ( PP-DIR ( TO to ) ( NP ( CD 14 ) ( NNS members ) ) ) ) )

His election increases Ryder 's board to 14 members


( NP-HLN ( NNP Seasonal ) ( NNP Stackup ) )

Seasonal Stackup


( S ( NP-SBJ-2 ( NN Air-traffic ) ( NNS problems ) ) ( SBAR-ADV ( RB though ) ( S ( ADVP-TMP ( RB often ) ) ( ADJP-PRD ( RB quite ) ( JJ grim ) ) ) ) ( NP-TMP ( NP ( DT This ) ( NN time ) ) ( PP ( IN of ) ( NP ( NN year ) ) ) ) ( VP ( VBP leave ) ( NP ( PRP us ) ) ( PP-CLR ( IN in ) ( NP ( NNS stitches ) ) ) ( SBAR ( WHADVP-1 ( WRB When ) ) ( S ( NP-SBJ ( PRP we ) ) ( VP ( VBP notice ) ( PP-LOC ( IN around ) ( NP ( PRP$ our ) ( NN airport ) ) ) ( NP ( NP ( DT A ) ( NN holding ) ( NN pattern ) ) ( PP ( IN for ) ( NP ( NNS witches ) ) ) ) ) ) ) ) )

Air-traffic problems though often quite grim This time of year leave us in stitches When we notice around our airport A holding pattern for witches


( NP ( NNP Edward ) ( NNP F. ) ( NNP Dempsey ) )

Edward F. Dempsey


Double-Jointed


( S ( S-TPC-1 ( NP-SBJ ( PRP I ) ) ( VP ( VBP am ) ( PP-LOC-PRD ( RB beside ) ( NP ( PRP myself ) ) ) ) ) ( NP-SBJ-2 ( PRP I ) ) ( VP ( VBP 've ) ( VP ( VBD said ) ( PP-TMP ( IN in ) ( NP ( NP ( NNS moments ) ) ( PP ( IN of ) ( NP ( NN heat ) ) ) ) ) ( PP ( IN Without ) ( S-NOM ( ADVP-TMP ( RB ever ) ) ( VP ( VBG bothering ) ( S ( VP ( TO To ) ( VP ( VB marvel ) ( PP-CLR ( IN at ) ( NP ( DT the ) ( NN feat ) ) ) ) ) ) ) ) ) ) ) )

I am beside myself I 've said in moments of heat Without ever bothering To marvel at the feat


Joshua Adams


( NP-HLN ( NNP Humility ) ( NNP Helper ) )

Humility Helper


( S ( NP-SBJ ( NP ( DT The ) ( JJ ultimate ) ( NN blow ) ) ( PP ( TO to ) ( NP ( DT the ) ( NN ego ) ) ) ) ( VP ( VBZ is ) ( VP ( VBG learning ) ( SBAR ( IN that ) ( S ( NP-SBJ-1 ( RB even ) ( PRP$ your ) ( NNS mistakes ) ) ( VP ( VBP go ) ( S-CLR ( ADJP-PRD ( JJ unnoticed ) ) ) ) ) ) ) ) )

The ultimate blow to the ego is learning that even your mistakes go unnoticed


Ivern Ball


( S ( NP-SBJ-1 ( JJ GREAT ) ( NNP NORTHERN ) ( NNP NEKOOSA ) ) ( VP ( VBZ is ) ( VP ( VBG being ) ( VP ( VBN sought ) ( PP ( IN by ) ( NP-LGS ( NP ( DT another ) ( JJ big ) ( NN paper ) ( NN company ) ) ( NP ( NNP Georgia-Pacific ) ) ) ) ( PP-CLR ( IN for ) ( NP ( NP ( NP ( CD 58 ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ( CC or ) ( NP ( QP ( RB about ) ( CD 3.18 ) ( CD billion ) ) ) ) ) ) ) ) )

GREAT NORTHERN NEKOOSA is being sought by another big paper company Georgia-Pacific for 58 a share or about 3.18 billion


( S ( NP-SBJ ( NP ( DT The ) ( NN tender ) ( NN offer ) ) ( SBAR ( WHNP-1 ( WDT which ) ) ( S ( VP ( VBD surprised ) ( NP ( NNS analysts ) ) ( SBAR-PRP ( IN because ) ( S ( NP-SBJ-2 ( PRP it ) ) ( VP ( VBD appeared ) ( S ( VP ( TO to ) ( VP ( VB be ) ( ADJP-PRD ( JJ unsolicited ) ) ) ) ) ) ) ) ) ) ) ) ( VP ( MD could ) ( VP ( VB spark ) ( NP ( NP ( DT a ) ( NN period ) ) ( PP ( IN of ) ( NP ( NN industry ) ( NN consolidation ) ) ) ) ) ) )

The tender offer which surprised analysts because it appeared to be unsolicited could spark a period of industry consolidation


( S ( NP-SBJ-1 ( NNS Analysts ) ) ( VP ( VBD questioned ) ( SBAR ( IN whether ) ( S ( NP-SBJ ( NNP Georgia-Pacific ) ) ( VP ( MD will ) ( ADVP-TMP ( RB ultimately ) ) ( VP ( VB prevail ) ) ) ) ) ( S-ADV ( VP ( VBG saying ) ( SBAR ( S ( NP-SBJ ( JJ other ) ( NN paper ) ( NNS concerns ) ) ( VP ( MD may ) ( VP ( VB make ) ( NP ( VBG competing ) ( NNS bids ) ) ) ) ) ) ) ) ) )

Analysts questioned whether Georgia-Pacific will ultimately prevail saying other paper concerns may make competing bids


( S ( NP-SBJ ( CD Two ) ( JJR more ) ( NNS securities ) ( NNS firms ) ) ( VP ( VBD bowed ) ( PP-CLR ( TO to ) ( NP ( NP ( DT the ) ( NN outcry ) ) ( PP ( IN over ) ( NP ( NN program ) ( NN trading ) ) ) ) ) ) )

Two more securities firms bowed to the outcry over program trading


( S ( NP-SBJ ( NP ( NNP GE ) ( POS 's ) ) ( NNP Kidder ) ( NNP Peabody ) ( NN unit ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ-1 ( PRP it ) ) ( VP ( MD would ) ( VP ( VB stop ) ( S ( VP ( VBG doing ) ( NP ( JJ stock-index ) ( NN arbitrage ) ) ( PP ( IN for ) ( NP ( PRP$ its ) ( JJ own ) ( NN account ) ) ) ) ) ) ) ) ) ( SBAR-ADV ( IN while ) ( S ( NP-SBJ ( NNP Merrill ) ( NNP Lynch ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBD was ) ( VP ( VBG halting ) ( NP ( JJ such ) ( NN trading ) ) ( ADVP ( RB entirely ) ) ) ) ) ) ) ) ) ) )

GE 's Kidder Peabody unit said it would stop doing stock-index arbitrage for its own account while Merrill Lynch said it was halting such trading entirely


( S ( ADVP ( RB Also ) ) ( NP-SBJ ( DT the ) ( NNP Big ) ( NNP Board ) ) ( VP ( VBD met ) ( PP-CLR ( IN with ) ( NP ( JJ angry ) ( NN stock ) ( NNS specialists ) ) ) ) )

Also the Big Board met with angry stock specialists


( S ( NP-SBJ-1 ( DT A ) ( JJ big ) ( JJ pension-insurance ) ( NN case ) ) ( VP ( MD will ) ( VP ( VB be ) ( VP ( VBN reviewed ) ( PP ( IN by ) ( NP-LGS ( DT the ) ( NNP Supreme ) ( NNP Court ) ) ) ) ) ) )

A big pension-insurance case will be reviewed by the Supreme Court


( S ( NP-SBJ-1 ( DT The ) ( NNS justices ) ) ( VP ( VBD agreed ) ( S ( VP ( TO to ) ( VP ( VB decide ) ( SBAR-NOM ( IN whether ) ( S ( NP-SBJ ( JJ federal ) ( NNS insurers ) ) ( VP ( MD can ) ( VP ( VB require ) ( S ( NP-SBJ ( NNP LTV ) ) ( VP ( TO to ) ( VP ( VB take ) ( PRT ( RP back ) ) ( NP ( NP ( NN responsiblilty ) ) ( PP ( IN for ) ( S-NOM ( VP ( VBG funding ) ( NP ( PRP$ its ) ( ADJP ( QP ( CD 2.3 ) ( CD billion ) ) ) ( NN pension ) ( NN shortfall ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

The justices agreed to decide whether federal insurers can require LTV to take back responsiblilty for funding its 2.3 billion pension shortfall


( S ( NP-SBJ ( NN Drug ) ( NNS companies ) ) ( VP ( VBD lost ) ( NP ( DT a ) ( JJ major ) ( NN liability ) ( NN case ) ) ) )

Drug companies lost a major liability case


( S ( NP-SBJ ( DT The ) ( NNP Supreme ) ( NNP Court ) ) ( VP ( VBP let ) ( SINV ( VP ( VB stand ) ) ( NP-SBJ ( DT a ) ( NNP New ) ( NNP York ) ( NN ruling ) ( SBAR ( IN that ) ( S ( NP-SBJ ( NP ( DT all ) ( NNS manufacturers ) ) ( PP ( IN of ) ( NP ( DT an ) ( JJ anti-miscarriage ) ( NN drug ) ) ) ) ( VP ( VBP are ) ( ADJP-PRD ( JJ liable ) ( PP ( IN for ) ( NP ( NNS injuries ) ( CC or ) ( NNS deaths ) ) ) ) ( SBAR-ADV ( IN if ) ( S ( NP-SBJ ( DT the ) ( JJ actual ) ( NN maker ) ) ( VP ( VBZ is ) ( RB n't ) ( ADJP-PRD ( VBN known ) ) ) ) ) ) ) ) ) ) ) )

The Supreme Court let stand a New York ruling that all manufacturers of an anti-miscarriage drug are liable for injuries or deaths if the actual maker is n't known


( S ( NP-SBJ ( NNP Revco ) ) ( VP ( VBD received ) ( NP ( DT a ) ( ADJP ( QP ( CD 925 ) ( CD million ) ) ) ( NN takeover ) ( NN offer ) ) ( PP-CLR ( IN from ) ( NP ( NP ( NNP Texas ) ( NN financier ) ( NNP Robert ) ( NNP Bass ) ) ( CC and ) ( NP ( NNP Acadia ) ( NNP Partners ) ) ) ) ) )

Revco received a 925 million takeover offer from Texas financier Robert Bass and Acadia Partners


( S ( NP-SBJ-2 ( DT The ) ( NN drugstore ) ( NN chain ) ) ( VP ( VBD reacted ) ( ADVP-MNR ( RB cautiously ) ) ( S-ADV ( VP ( VBG saying ) ( SBAR ( S ( NP-SBJ ( DT the ) ( NN plan ) ) ( VP ( MD would ) ( VP ( ADVP ( RB further ) ) ( VB swell ) ( NP ( NP ( PRP$ its ) ( JJ huge ) ( NN debt ) ) ( SBAR ( WHNP-1 ( WDT which ) ) ( S ( VP ( VBD forced ) ( NP ( DT the ) ( NN company ) ) ( PP-CLR ( IN into ) ( NP ( NNP Chapter ) ( CD 11 ) ( NN protection ) ) ) ( NP-TMP ( JJ last ) ( NN year ) ) ) ) ) ) ) ) ) ) ) ) ) )

The drugstore chain reacted cautiously saying the plan would further swell its huge debt which forced the company into Chapter 11 protection last year


( S ( NP-SBJ-1 ( NNP Rockefeller ) ( NNP Group ) ) ( VP ( VBD agreed ) ( S ( VP ( TO to ) ( VP ( VB sell ) ( NP ( DT a ) ( ADJP ( CD 51 ) ( NN % ) ) ( NN interest ) ) ( PP-DTV ( TO to ) ( NP ( NP ( NNP Mitsubishi ) ( NNP Estate ) ) ( NP ( DT a ) ( JJ major ) ( JJ Japanese ) ( NN developer ) ( CC and ) ( NN property ) ( NN owner ) ) ) ) ( PP-CLR ( IN for ) ( NP ( QP ( CD 846 ) ( CD million ) ) ) ) ) ) ) ) )

Rockefeller Group agreed to sell a 51 % interest to Mitsubishi Estate a major Japanese developer and property owner for 846 million


( S ( NP-SBJ-1 ( NP ( NNS Officials ) ) ( PP-LOC ( IN at ) ( NP ( DT some ) ( NNP Rockefeller ) ( NNS units ) ) ) ) ( VP ( VBP are ) ( VP ( VBD said ) ( S ( VP ( TO to ) ( VP ( VB be ) ( ADJP-PRD ( JJ unhappy ) ( PP ( IN with ) ( NP ( DT the ) ( NN agreement ) ) ) ) ) ) ) ) ) )

Officials at some Rockefeller units are said to be unhappy with the agreement


( S ( NP-SBJ ( NNP Continental ) ( NNP Air ) ) ( VP ( VBD replaced ) ( NP ( PRP$ its ) ( JJ top ) ( NN executive ) ) ( PP-TMP ( IN for ) ( NP ( NP ( DT the ) ( JJ sixth ) ( NN time ) ) ( PP ( IN in ) ( NP ( ADJP ( RB as ) ( JJ many ) ) ( NNS years ) ) ) ) ) ) )

Continental Air replaced its top executive for the sixth time in as many years


( S ( NP-SBJ-1 ( NNP Chairman ) ( CC and ) ( NNP Chief ) ( NNP Executive ) ( NNP Joseph ) ( NNP Corr ) ) ( VP ( VBD was ) ( VP ( VBN succeeded ) ( PP ( IN by ) ( NP-LGS ( NP ( NNP Frank ) ( NNP Lorenzo ) ) ( NP ( NP ( NN chief ) ) ( PP ( IN of ) ( NP ( NN parent ) ( NNP Texas ) ( NNP Air ) ) ) ) ) ) ) ) )

Chairman and Chief Executive Joseph Corr was succeeded by Frank Lorenzo chief of parent Texas Air


( S ( NP-SBJ-1 ( NP ( NNP United ) ( NNP Air ) ( POS 's ) ) ( NN parent ) ) ( VP ( MD may ) ( VP ( VB have ) ( S ( VP ( TO to ) ( VP ( VB pay ) ( NP ( QP ( RB as ) ( JJ much ) ( IN as ) ( CD 53.7 ) ( CD million ) ) ) ( PP-DTV ( TO to ) ( NP ( DT the ) ( JJ labor-management ) ( NN buy-out ) ( NN group ) ) ) ( PP-CLR ( IN for ) ( NP ( NP ( NNS fees ) ( CC and ) ( NNS expenses ) ) ( VP ( VBN incurred ) ( PP-LOC ( IN in ) ( NP ( PRP$ their ) ( JJ failed ) ( ADJP ( QP ( CD 6.79 ) ( CD billion ) ) ) ( NN takeover ) ( NN bid ) ) ) ) ) ) ) ) ) ) ) )

United Air 's parent may have to pay as much as 53.7 million to the labor-management buy-out group for fees and expenses incurred in their failed 6.79 billion takeover bid


( S ( NP-SBJ-2 ( NNP Gen-Probe ) ) ( VP ( VBD agreed ) ( S ( VP ( TO to ) ( VP ( VB be ) ( VP ( VBN bought ) ( PP ( IN by ) ( NP-LGS ( NNP Chugai ) ( NNP Pharmaceutical ) ) ) ( PP-CLR ( IN for ) ( NP ( QP ( RB about ) ( CD 110 ) ( CD million ) ) ) ) ) ) ) ) ) )

Gen-Probe agreed to be bought by Chugai Pharmaceutical for about 110 million


( S ( NP-SBJ-1 ( DT The ) ( NN sale ) ) ( VP ( VBZ is ) ( ADJP-PRD ( JJ likely ) ( S ( VP ( TO to ) ( VP ( VB fuel ) ( NP ( NP ( NN concern ) ) ( PP ( IN about ) ( NP ( NP ( VBG growing ) ( JJ Japanese ) ( NN investment ) ) ( PP-LOC ( IN in ) ( NP ( NNP U.S. ) ( NN biotechnology ) ( NNS firms ) ) ) ) ) ) ) ) ) ) ) )

The sale is likely to fuel concern about growing Japanese investment in U.S. biotechnology firms


( S ( S ( NP-SBJ ( NNP Boeing ) ) ( VP ( VBD posted ) ( NP ( NP ( DT a ) ( ADJP ( CD 68 ) ( NN % ) ) ( NN jump ) ) ( PP-LOC ( IN in ) ( NP ( JJ third-quarter ) ( NNS earnings ) ) ) ) ) ) ( CC but ) ( S ( NP-SBJ-1 ( NP ( NNP Wall ) ( NNP Street ) ( POS 's ) ) ( NN attention ) ) ( VP ( VBD was ) ( VP ( VBN focused ) ( PP-CLR ( IN on ) ( NP ( NP ( DT the ) ( VBN continued ) ( NN strike ) ) ( PP-LOC ( IN at ) ( NP ( DT the ) ( NN aircraft ) ( NN maker ) ) ) ) ) ) ) ) )

Boeing posted a 68 % jump in third-quarter earnings but Wall Street 's attention was focused on the continued strike at the aircraft maker


( S ( NP-SBJ ( DT The ) ( NNP Fed ) ) ( VP ( VBD delayed ) ( NP ( NP ( NN approval ) ) ( PP ( IN of ) ( NP ( NP ( NP ( NNP First ) ( NNP Union ) ( POS 's ) ) ( ADJP ( QP ( CD 849 ) ( CD million ) ) ) ( NN acquisition ) ) ( PP ( IN of ) ( NP ( NNP Florida ) ( NNP National ) ( NNP Banks ) ) ) ) ) ) ( PP-TMP ( VBG pending ) ( NP ( NP ( DT a ) ( NN review ) ) ( PP ( IN of ) ( NP ( NP ( NP ( NNP First ) ( NNP Union ) ( POS 's ) ) ( NN lending ) ( NNS practices ) ) ( PP-LOC ( IN in ) ( NP ( JJ low-income ) ( NNS neighborhoods ) ) ) ) ) ) ) ) )

The Fed delayed approval of First Union 's 849 million acquisition of Florida National Banks pending a review of First Union 's lending practices in low-income neighborhoods


( S ( NP-SBJ ( NP ( NNP Allianz ) ) ( PP ( IN of ) ( NP ( NNP West ) ( NNP Germany ) ) ) ) ( VP ( VBD entered ) ( NP ( NP ( DT the ) ( NN takeover ) ( NN battle ) ) ( PP ( IN between ) ( NP ( NP ( NNP France ) ( POS 's ) ) ( NNP Paribas ) ( CC and ) ( NNP Navigation ) ( NNP Mixte ) ) ) ) ) )

Allianz of West Germany entered the takeover battle between France 's Paribas and Navigation Mixte


( S ( NP-SBJ-1 ( NNP Maxwell ) ) ( VP ( VBD agreed ) ( S ( VP ( TO to ) ( VP ( VB sell ) ( NP ( PRP$ its ) ( NNP U.S. ) ( NN printing ) ( NN unit ) ) ( PP-DTV ( TO to ) ( NP ( NNP Quebecor ) ) ) ( PP-CLR ( IN for ) ( NP ( QP ( CD 500 ) ( CD million ) ) ) ) ( S-ADV ( VP ( VBG making ) ( S ( NP-SBJ ( NNP Quebecor ) ) ( NP-PRD ( NP ( DT the ) ( NN No. ) ( CD 2 ) ( JJ commercial ) ( NN printer ) ) ( PP-LOC ( IN in ) ( NP ( NNP North ) ( NNP America ) ) ) ) ) ) ) ) ) ) ) )

Maxwell agreed to sell its U.S. printing unit to Quebecor for 500 million making Quebecor the No. 2 commercial printer in North America


( S ( NP-SBJ-1 ( JJ New ) ( NN construction ) ( NNS contracts ) ) ( VP ( VBD rose ) ( NP-EXT ( CD 8 ) ( NN % ) ) ( PP-TMP ( IN in ) ( NP ( NNP September ) ) ) ( S-ADV ( VP ( VBN led ) ( PP ( IN by ) ( NP-LGS ( ADJP ( JJ commercial ) ( JJ industrial ) ( CC and ) ( JJ public-works ) ) ( NNS projects ) ) ) ) ) ( PP ( VBG according ) ( PP ( TO to ) ( NP ( NNP F.W. ) ( NNP Dodge ) ( NNP Group ) ) ) ) ) )

New construction contracts rose 8 % in September led by commercial industrial and public-works projects according to F.W. Dodge Group


( S ( NP-SBJ-2 ( NNP Western ) ( NNP Union ) ) ( VP ( VBD took ) ( NP ( NP ( NNS steps ) ) ( SBAR ( S ( VP ( TO to ) ( VP ( VB withdraw ) ( NP ( DT a ) ( ADJP ( QP ( CD 500 ) ( CD million ) ) ) ( NN debt ) ( NN swap ) ) ) ) ) ) ) ( S-ADV ( VP ( VBG citing ) ( NP ( NP ( NN turmoil ) ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( NN junk ) ( NN bond ) ( NN market ) ) ) ) ) ) ) )

Western Union took steps to withdraw a 500 million debt swap citing turmoil in the junk bond market


Markets


( NP ( NP ( NNS Stocks ) ) ( NP ( NP ( NN Volume ) ) ( NP ( CD 126,630,000 ) ( NNS shares ) ) ) )

Stocks Volume 126,630,000 shares


( NP ( NP ( NP ( NNP Dow ) ( NNP Jones ) ( NNS industrials ) ) ( NP ( CD 2603.48 ) ) ( ADVP ( RB up ) ( NP ( CD 6.76 ) ) ) ) ( NP ( NP ( NN transportation ) ) ( NP ( CD 1191.86 ) ) ( ADVP ( RB up ) ( NP ( CD 1.43 ) ) ) ) ( NP ( NP ( NNS utilities ) ) ( NP ( CD 216.74 ) ) ( ADVP ( RB up ) ( NP ( CD 0.88 ) ) ) ) )

Dow Jones industrials 2603.48 up 6.76 transportation 1191.86 up 1.43 utilities 216.74 up 0.88


( NP ( NP ( NNS Bonds ) ) ( NP ( NP ( NNP Shearson ) ( NNP Lehman ) ( NNP Hutton ) ( NNP Treasury ) ( NN index ) ) ( NP ( CD 3416.81 ) ) ( ADVP ( RB up ) ) ) )

Bonds Shearson Lehman Hutton Treasury index 3416.81 up


( NP ( NP ( NNS Commodities ) ) ( NP ( NP ( NP ( NNP Dow ) ( NNP Jones ) ( NNS futures ) ( NN index ) ) ( NP ( CD 129.38 ) ) ( ADVP ( RB off ) ( NP ( CD 0.11 ) ) ) ) ( NP ( NP ( NN spot ) ( NN index ) ) ( NP ( CD 130.09 ) ) ( ADVP ( RB off ) ( NP ( CD 0.71 ) ) ) ) ) )

Commodities Dow Jones futures index 129.38 off 0.11 spot index 130.09 off 0.71


( NP ( NP ( NN Dollar ) ) ( NP ( NP ( NP ( CD 141.90 ) ( NN yen ) ) ( ADVP ( RB up ) ( NP ( CD 0.25 ) ) ) ) ( NP ( NP ( CD 1.8340 ) ( NNS marks ) ) ( ADVP ( RB up ) ( NP ( CD 0.0040 ) ) ) ) ) )

Dollar 141.90 yen up 0.25 1.8340 marks up 0.0040


( S ( NP-SBJ ( JJ Many ) ( NNS investors ) ) ( VP ( VBP give ) ( NP ( NNP Michael ) ( NNP Foods ) ) ( NP ( NP ( ADJP ( RB about ) ( RB as ) ( JJ much ) ) ( NN chance ) ) ( PP ( IN of ) ( S-NOM ( VP ( VBG getting ) ( NP ( PRP it ) ) ( ADVP-CLR ( RB together ) ) ) ) ) ( PP ( IN as ) ( NP ( NNP Humpty ) ( NNP Dumpty ) ) ) ) ) )

Many investors give Michael Foods about as much chance of getting it together as Humpty Dumpty


( S ( CC But ) ( ADVP-TMP ( RB now ) ) ( ADVP ( IN at ) ( JJS least ) ) ( NP-SBJ ( EX there ) ) ( VP ( VBZ 's ) ( NP-PRD ( NP ( DT a ) ( NN glimmer ) ) ( PP ( IN of ) ( NP ( NP ( NN hope ) ) ( PP ( IN for ) ( NP ( DT the ) ( NN stock ) ) ) ) ) ) ) )

But now at least there 's a glimmer of hope for the stock


( S ( NP-SBJ ( NP ( NNP Burger ) ( NNP King ) ) ( SBAR ( WHNP-1 ( WDT which ) ) ( S ( VP ( VBZ breaks ) ( NP ( NP ( NNS thousands ) ) ( PP ( IN of ) ( NP ( JJ fresh ) ( NNS eggs ) ) ) ) ( NP-TMP ( DT each ) ( NN morning ) ) ) ) ) ) ( VP ( VBZ is ) ( VP ( ADVP-MNR ( RB quietly ) ) ( VBG switching ) ( PRT ( RP over ) ) ( PP-CLR ( TO to ) ( NP ( NP ( DT an ) ( JJ alternative ) ( NN egg ) ( NN product ) ) ( VP ( VBN made ) ( PP ( IN by ) ( NP-LGS ( NNP Michael ) ( NNP Foods ) ) ) ) ) ) ) ) )

Burger King which breaks thousands of fresh eggs each morning is quietly switching over to an alternative egg product made by Michael Foods


( S ( S-ADV ( VP ( VBN Known ) ( PP-CLR ( IN as ) ( NP ( NNP Easy ) ( NNP Eggs ) ) ) ) ) ( NP-SBJ-2 ( DT the ) ( NN product ) ) ( VP ( VBZ has ) ( VP ( VBN disappointed ) ( NP ( NNS investors ) ) ) ) )

Known as Easy Eggs the product has disappointed investors


( S ( SBAR-TMP ( WHADVP-1 ( WRB When ) ) ( S ( NP-SBJ ( DT the ) ( NN company ) ) ( NP-TMP ( DT this ) ( NN month ) ) ( VP ( VBD announced ) ( NP ( NP ( JJ lower-than-forecast ) ( NNS sales ) ) ( PP ( IN of ) ( NP ( NNP Easy ) ( NNP Eggs ) ) ) ) ) ) ) ( NP-SBJ ( DT the ) ( NN stock ) ) ( VP ( VBD dropped ) ( NP-EXT ( QP ( RB nearly ) ( CD 19 ) ) ( NN % ) ) ) )

When the company this month announced lower-than-forecast sales of Easy Eggs the stock dropped nearly 19 %


( S ( S ( NP-SBJ ( NNP Michael ) ) ( VP ( MD wo ) ( RB n't ) ( VP ( VB confirm ) ( NP ( NP ( DT the ) ( NNS identities ) ) ( PP ( IN of ) ( NP ( DT any ) ( NNP Easy ) ( NNP Egg ) ( NNS customers ) ) ) ) ) ) ) ( CC nor ) ( SINV ( MD will ) ( NP-SBJ ( PRP it ) ) ( VP ( VB say ) ( NP ( NP ( JJ much ) ) ( PP ( IN of ) ( NP ( NN anything ) ( RB else ) ) ) ) ) ) )

Michael wo n't confirm the identities of any Easy Egg customers nor will it say much of anything else


( S ( NP-SBJ ( NP ( CD Two ) ( NNP Minneapolis ) ( NN shareholder ) ( NNS suits ) ) ( PP-TMP ( IN in ) ( NP ( DT the ) ( JJ past ) ( NN month ) ) ) ) ( VP ( VBP have ) ( VP ( VBN accused ) ( NP-1 ( JJ top ) ( NNS officers ) ) ( PP-CLR ( IN of ) ( S-NOM ( VP ( VBG making ) ( NP ( JJ various ) ( JJ untrue ) ( NNS statements ) ) ) ) ) ) ) )

Two Minneapolis shareholder suits in the past month have accused top officers of making various untrue statements


( S ( NP-SBJ ( DT These ) ( JJ federal-court ) ( NNS suits ) ) ( VP ( VBP accuse ) ( NP-2 ( DT the ) ( NNS officers ) ) ( PP-CLR ( IN of ) ( S-NOM ( VP ( VBG failing ) ( S ( VP ( TO to ) ( VP ( VB disclose ) ( SBAR ( IN that ) ( S ( NP-SBJ-1 ( NNP Easy ) ( NNP Eggs ) ) ( VP ( VBD were ) ( ADJP-PRD ( JJ unlikely ) ( S ( VP ( TO to ) ( VP ( VB sell ) ( ADVP ( RB briskly ) ( RB enough ) ( S ( VP ( TO to ) ( VP ( VB justify ) ( NP ( NP ( DT all ) ) ( PP ( IN of ) ( NP ( NP ( NNP Michael ) ( POS 's ) ) ( NN production ) ( NN capacity ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

These federal-court suits accuse the officers of failing to disclose that Easy Eggs were unlikely to sell briskly enough to justify all of Michael 's production capacity


( S ( CC But ) ( ADVP ( IN at ) ( JJS least ) ) ( NP-SBJ ( NNP Burger ) ( NNP King ) ) ( VP ( VP ( VBZ has ) ( VP ( VBN signed ) ( PRT ( RP on ) ) ) ) ( CC and ) ( VP ( VBZ says ) ( SBAR ( IN that ) ( S ( PP-TMP ( IN by ) ( NP ( NN year ) ( NN end ) ) ) ( NP-SBJ ( PRP it ) ) ( VP ( MD wo ) ( RB n't ) ( VP ( VB be ) ( VP ( VBG using ) ( NP ( DT any ) ( NN shell ) ( NNS eggs ) ) ) ) ) ) ) ) ) )

But at least Burger King has signed on and says that by year end it wo n't be using any shell eggs


( S ( NP-SBJ-1 ( NP ( DT The ) ( NNP Miami ) ( NN fast-food ) ( NN chain ) ) ( VP ( VBN owned ) ( PP ( IN by ) ( NP-LGS ( NP ( NNP Grand ) ( NNP Metropolitan ) ) ( PP ( IN of ) ( NP ( NNP Britain ) ) ) ) ) ) ) ( VP ( VBZ expects ) ( S ( VP ( TO to ) ( VP ( VB consume ) ( NP ( NP ( QP ( RB roughly ) ( CD 34 ) ( CD million ) ) ( NNS pounds ) ) ( PP ( IN of ) ( NP ( VBN liquefied ) ( NNS eggs ) ) ) ) ( ADVP-TMP ( RB annually ) ) ) ) ) ) )

The Miami fast-food chain owned by Grand Metropolitan of Britain expects to consume roughly 34 million pounds of liquefied eggs annually


( S ( IN So ) ( NP-SBJ ( EX there ) ) ( VP ( VBZ is ) ( NP-PRD ( NP ( NN reason ) ) ( SBAR ( S ( VP ( TO to ) ( VP ( VB believe ) ( SBAR ( IN that ) ( S ( NP-SBJ ( NP ( NP ( NNP Michael ) ( POS 's ) ) ( NNS hopes ) ) ( PP ( IN for ) ( NP ( DT a ) ( JJ bacteria-free ) ( JJ long-shelf-life ) ( NN egg ) ) ) ) ( VP ( VBD were ) ( RB n't ) ( NP-PRD ( DT all ) ( NN hype ) ) ) ) ) ) ) ) ) ) ) )

So there is reason to believe that Michael 's hopes for a bacteria-free long-shelf-life egg were n't all hype


( S ( NP-SBJ-1 ( NNP Easy ) ( NNP Eggs ) ) ( VP ( VBP are ) ( VP ( VBN pasteurized ) ( PP-MNR ( IN in ) ( NP ( DT a ) ( JJ heat-using ) ( NN process ) ) ) ) ) )

Easy Eggs are pasteurized in a heat-using process


( S ( ADVP ( RB Still ) ) ( NP-SBJ ( NN caution ) ) ( VP ( VBZ is ) ( ADJP-PRD ( JJ advisable ) ) ) )

Still caution is advisable


( S ( NP-SBJ ( DT A ) ( NN company ) ( NN official ) ) ( VP ( VBZ says ) ( SBAR ( S ( NP-SBJ ( NP ( NP ( NNP Michael ) ( POS 's ) ) ( JJ break-even ) ( NN volume ) ) ( PP ( IN on ) ( NP ( NNP Easy ) ( NNP Eggs ) ) ) ) ( VP ( VBZ is ) ( NP-PRD ( NP ( NP ( QP ( RB around ) ( CD 60 ) ( CD million ) ) ( NNS pounds ) ) ( NP-ADV ( DT a ) ( NN year ) ) ) ( PRN ( ADVP ( RB apparently ) ) ( UCP ( PP ( ADVP ( RB well ) ) ( RB above ) ( NP ( JJ current ) ( NNS shipments ) ) ) ( CC and ) ( NP ( NP ( DT a ) ( JJ far ) ( NN cry ) ) ( PP ( IN from ) ( SBAR-NOM ( WHNP-1 ( WP what ) ) ( S ( NP-SBJ ( DT the ) ( NN company ) ) ( ADVP-TMP ( RB once ) ) ( VP ( VBD suggested ) ( SBAR ( S ( VP ( VBD was ) ( NP-PRD ( NP ( DT a ) ( JJ billion-pound ) ( NN market ) ) ( VP ( VBG waiting ) ( PP ( IN for ) ( NP ( JJ such ) ( DT a ) ( NN product ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

A company official says Michael 's break-even volume on Easy Eggs is around 60 million pounds a year apparently well above current shipments and a far cry from what the company once suggested was a billion-pound market waiting for such a product


( S ( S-PRP ( ADVP ( RB Perhaps ) ) ( VP ( TO to ) ( VP ( VB debunk ) ( NP ( NP ( NP ( DT the ) ( NNS analysts ) ( POS ' ) ) ( NN talk ) ) ( PP ( IN of ) ( NP ( NN over-capacity ) ) ) ) ) ) ) ( NP-SBJ ( NNP Michael ) ) ( NP-TMP ( NN today ) ) ( VP ( MD will ) ( VP ( VB take ) ( NP ( NP ( DT some ) ) ( PP ( IN of ) ( NP ( DT the ) ( NNS skeptics ) ) ) ) ( PP-CLR ( IN on ) ( NP ( NP ( DT a ) ( NN tour ) ) ( PP ( IN of ) ( NP ( PRP$ its ) ( JJ new ) ( NAC-LOC ( NNP Gaylord ) ( NNP Minn. ) ) ( NN plant ) ) ) ) ) ) ) )

Perhaps to debunk the analysts ' talk of over-capacity Michael today will take some of the skeptics on a tour of its new Gaylord Minn. plant


( S ( NP-SBJ ( EX There ) ) ( VP ( VBZ has ) ( VP ( VBN been ) ( NP-PRD ( NP ( DT no ) ( NN announcement ) ) ( PP ( IN of ) ( NP ( DT the ) ( NNP Burger ) ( NNP King ) ( NN arrangement ) ) ) ( PP ( IN by ) ( NP ( DT either ) ( NN party ) ) ) ) ( ADVP ( RB possibly ) ) ( PP-PRP ( IN for ) ( NP ( NN fear ) ( SBAR ( DT that ) ( S ( NP-SBJ ( NP ( NNP McDonald ) ( POS 's ) ) ( CC and ) ( NP ( JJ other ) ( NN fast-food ) ( NNS rivals ) ) ) ( VP ( MD would ) ( VP ( VB seize ) ( PP-CLR ( IN on ) ( NP ( PRP it ) ) ) ( PP-LOC ( IN in ) ( NP ( JJ scornful ) ( NN advertising ) ) ) ) ) ) ) ) ) ) ) )

There has been no announcement of the Burger King arrangement by either party possibly for fear that McDonald 's and other fast-food rivals would seize on it in scornful advertising


( S ( CC But ) ( NP-SBJ-1 ( NNP Burger ) ( NNP King ) ( NNS operators ) ) ( ADVP ( RB independently ) ) ( VP ( VBP confirm ) ( S ( VP ( VBG using ) ( NP ( NP ( NNP Michael ) ( POS 's ) ) ( NN product ) ) ) ) ) )

But Burger King operators independently confirm using Michael 's product


( S ( NP-SBJ ( JJ Other ) ( JJ institutional ) ( NNS users ) ) ( ADVP ( RB reportedly ) ) ( VP ( VBP include ) ( NP ( NP ( NNP Marriott ) ) ( SBAR ( WHNP-1 ( WDT which ) ) ( S ( VP ( VBZ is ) ( VP ( VBG moving ) ( ADVP-DIR ( RB away ) ( PP ( IN from ) ( NP ( JJ fresh ) ( NNS eggs ) ) ) ) ( PP-MNR ( IN on ) ( NP ( DT a ) ( JJ region-by-region ) ( NN basis ) ) ) ) ) ) ) ) ) )

Other institutional users reportedly include Marriott which is moving away from fresh eggs on a region-by-region basis


( S ( S ( NP-SBJ ( NP ( DT The ) ( NN extent ) ) ( PP ( IN of ) ( NP ( NP ( NNP Marriott ) ( POS 's ) ) ( NN use ) ) ) ) ( VP ( VBZ is ) ( RB n't ) ( ADJP-PRD ( VBN known ) ) ) ) ( CC and ) ( S ( NP-SBJ-1 ( NNP Marriott ) ( NNS officials ) ) ( VP ( MD could ) ( RB n't ) ( VP ( VB be ) ( VP ( VBN reached ) ( PP-CLR ( IN for ) ( NP ( NN comment ) ) ) ) ) ) ) )

The extent of Marriott 's use is n't known and Marriott officials could n't be reached for comment


( S ( NP-SBJ ( NNP Michael ) ( NNP Foods ) ) ( VP ( VBZ has ) ( VP ( VBN attracted ) ( NP ( NP ( ADJP ( DT a ) ( JJ good ) ( JJ many ) ) ( NNS short-sellers ) ) ( NP ( NP ( DT the ) ( NNS people ) ) ( SBAR ( WHNP-1 ( WP who ) ) ( S ( VP ( VBP sell ) ( NP ( VBN borrowed ) ( NNS shares ) ) ( PP-PRP ( IN in ) ( NP ( DT a ) ( NN bet ) ( SBAR ( IN that ) ( S ( NP-SBJ ( DT a ) ( NN stock ) ( NN price ) ) ( VP ( MD will ) ( VP ( VP ( VB drop ) ) ( CC and ) ( VP ( VB allow ) ( NP ( NP ( DT the ) ( NN return ) ) ( PP ( IN of ) ( NP ( JJR cheaper ) ( NNS shares ) ) ) ( PP ( TO to ) ( NP ( DT the ) ( NN lender ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Michael Foods has attracted a good many short-sellers the people who sell borrowed shares in a bet that a stock price will drop and allow the return of cheaper shares to the lender


( S ( NP-SBJ ( JJ Many ) ( NNS analysts ) ) ( VP ( VBP question ) ( NP ( NP ( NN management ) ( POS 's ) ) ( NN credibility ) ) ) )

Many analysts question management 's credibility


( SINV ( S-TPC-1 ( NP-SBJ-2 ( DT The ) ( NN stock ) ) ( PP ( IN in ) ( NP ( PRP$ my ) ( NN opinion ) ) ) ( VP ( VBZ is ) ( VP ( VBG going ) ( S ( VP ( TO to ) ( VP ( VB go ) ( ADVP-DIR ( RBR lower ) ) ) ) ) ( UCP-PRP ( CONJP ( RB not ) ( RB only ) ) ( PP ( IN because ) ( IN of ) ( NP ( JJ disappointing ) ( NNS earnings ) ) ) ( CC but ) ( SBAR ( IN because ) ( S ( NP-SBJ ( DT the ) ( NN credibility ) ( NN gap ) ) ( VP ( VBZ is ) ( ADVP ( RB certainly ) ) ( RB not ) ( VP ( VBG closing ) ) ) ) ) ) ) ) ) ( VP ( VBZ says ) ) ( NP-SBJ ( NP ( NNP L. ) ( NNP Craig ) ( NNP Carver ) ) ( PP ( IN of ) ( NP ( NNP Dain ) ( NNP Bosworth ) ) ) ) )

The stock in my opinion is going to go lower not only because of disappointing earnings but because the credibility gap is certainly not closing says L. Craig Carver of Dain Bosworth


( S ( NP-SBJ ( NNP Mr. ) ( NNP Carver ) ) ( VP ( VBZ says ) ( SBAR ( IN that ) ( S ( PP-LOC ( IN at ) ( NP ( NP ( DT a ) ( JJ recent ) ( JJ Dain-sponsored ) ( NN conference ) ) ( PP-LOC ( IN in ) ( NP ( NNP New ) ( NNP York ) ) ) ) ) ( NP-SBJ ( PRP he ) ) ( VP ( VBD asked ) ( NP ( NP ( NNP Michael ) ( POS 's ) ) ( JJ chief ) ( NN executive ) ( NN officer ) ) ( SBAR ( IN if ) ( S ( NP-SBJ ( DT the ) ( JJ fourth ) ( NN quarter ) ) ( VP ( MD would ) ( VP ( VB be ) ( ADVP-PRD ( JJ down ) ) ) ) ) ) ) ) ) ) )

Mr. Carver says that at a recent Dain-sponsored conference in New York he asked Michael 's chief executive officer if the fourth quarter would be down


( S ( NP-SBJ ( NP ( DT The ) ( NNP CEO ) ) ( NP ( NNP Richard ) ( NNP G. ) ( NNP Olson ) ) ) ( VP ( VP ( VBD replied ) ( NP ( RB yes ) ) ) ( CC but ) ( VP ( MD would ) ( RB n't ) ( VP ( VB elaborate ) ) ) ) )

The CEO Richard G. Olson replied yes but would n't elaborate


( S ( NP-SBJ ( DT The ) ( NN company ) ) ( VP ( VBD did ) ( RB n't ) ( VP ( VBN put ) ( PRT ( RP out ) ) ( NP ( DT a ) ( JJ public ) ( NN announcement ) ) ) ) )

The company did n't put out a public announcement


( S ( NP-SBJ ( DT A ) ( NN spokesman ) ) ( VP ( VBD said ) ( ADVP-TMP ( RBR later ) ) ( SBAR ( IN that ) ( S ( NP-SBJ ( NNP Mr. ) ( NNP Olson ) ) ( VP ( VBD was ) ( VP ( VBG being ) ( ADJP-PRD ( JJ conservative ) ( PP ( IN in ) ( NP ( PRP$ his ) ( NN estimate ) ) ) ) ) ) ) ) ) )

A spokesman said later that Mr. Olson was being conservative in his estimate


( S ( CC But ) ( NP-SBJ ( DT the ) ( NN spokesman ) ) ( VP ( VBD added ) ( SBAR ( IN that ) ( S ( SBAR-ADV ( IN while ) ( S ( NP-SBJ ( NNP Michael ) ) ( VP ( MD will ) ( VP ( VB earn ) ( NP ( NP ( JJR less ) ) ( PP ( IN than ) ( NP ( NP ( NP ( JJ last ) ( NN year ) ( POS 's ) ) ( CD 1.20 ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ) ) ) ) ) ( NP-SBJ ( PRP it ) ) ( VP ( VBZ thinks ) ( SBAR ( S ( NP-SBJ ( NP ( NNP Street ) ( NNS estimates ) ) ( PP ( IN of ) ( NP ( CD 1 ) ( QP ( CC or ) ( RB so ) ) ) ) ) ( VP ( VBP are ) ( ADJP-PRD ( JJ low ) ) ) ) ) ) ) ) ) )

But the spokesman added that while Michael will earn less than last year 's 1.20 a share it thinks Street estimates of 1 or so are low


( S ( NP-SBJ ( NP ( NNP Analyst ) ( NNP Robin ) ( NNP Young ) ) ( PP ( IN of ) ( NP ( NP ( NNP John ) ( NNP Kinnard ) ( CC & ) ( NNP Co. ) ) ( NP ( NNP Minneapolis ) ) ) ) ) ( VP ( VBZ calls ) ( S ( NP-SBJ ( PRP himself ) ) ( NP-PRD ( NP ( DT the ) ( JJ last ) ( JJ remaining ) ( NN bull ) ) ( PP ( IN on ) ( NP ( DT the ) ( NN stock ) ) ) ) ) ) )

Analyst Robin Young of John Kinnard & Co. Minneapolis calls himself the last remaining bull on the stock


( S ( S ( NP-SBJ ( PRP He ) ) ( VP ( VBZ argues ) ( SBAR ( IN that ) ( S ( NP-SBJ ( NNP Michael ) ( NNP Foods ) ) ( VP ( VBZ is ) ( ADJP-PRD ( VBN misunderstood ) ) ) ) ) ) ) ( S ( NP-SBJ ( DT This ) ) ( VP ( VBZ is ) ( NP-PRD ( NP ( NP ( DT a ) ( NN growth ) ( NN company ) ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( VBN packaged ) ( NN food ) ( NN industry ) ) ) ) ( NP ( NP ( DT a ) ( JJ rare ) ( NN breed ) ) ( PP ( IN like ) ( S-NOM ( VP ( VBG finding ) ( NP ( DT a ) ( JJ white ) ( NN rhino ) ) ) ) ) ) ) ) ) )

He argues that Michael Foods is misunderstood This is a growth company in the packaged food industry a rare breed like finding a white rhino


( S-1 ( NP-SBJ ( NNS Earnings ) ) ( VP ( VBP are ) ( RB n't ) ( VP ( VBG keeping ) ( NP ( NN pace ) ) ( PRN ( S ( NP-SBJ ( PRP he ) ) ( VP ( VBZ says ) ) ) ) ( PP-PRP ( IN because ) ( IN of ) ( NP ( NP ( NP ( NN heavy ) ( NNS investments ) ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( NN egg ) ( NNS technologies ) ) ) ) ( CC and ) ( NP ( NP ( JJ drought-related ) ( NNS costs ) ) ( PP-LOC ( IN in ) ( NP ( PRP$ its ) ( NN potato ) ( NN business ) ) ) ) ) ) ) ) )

Earnings are n't keeping pace he says because of heavy investments in the egg technologies and drought-related costs in its potato business


( S ( NP-SBJ ( NNP Mr. ) ( NNP Carver ) ) ( ADVP ( RB however ) ) ( VP ( VBZ believes ) ( SBAR ( S ( NP-SBJ ( NP ( DT the ) ( NN company ) ( POS 's ) ) ( NN egg ) ( NN product ) ) ( VP ( MD wo ) ( RB n't ) ( VP ( VB help ) ( NP ( DT the ) ( JJ bottom ) ( NN line ) ) ( PP-TMP ( IN in ) ( NP ( DT the ) ( JJ short ) ( NN run ) ) ) ( SBAR-ADV ( RB even ) ( IN though ) ( S ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBZ makes ) ( NP ( NN sense ) ) ) ) ( S ( NP-SBJ ( PRP it ) ) ( VP ( VP ( VBZ 's ) ( ADJP-PRD ( RBR more ) ( JJ convenient ) ) ) ( CC and ) ( VP ( VBZ justifies ) ( NP ( NP ( PRP$ its ) ( NN price ) ) ( SBAR ( WHNP-1 ( WDT which ) ) ( S ( VP ( VBZ is ) ( ADJP-PRD ( ADJP ( JJR higher ) ) ( PP ( IN than ) ( NP ( NN shell ) ( NNS eggs ) ) ) ) ( PP-PRP ( IN because ) ( IN of ) ( NP ( NN health ) ( CC and ) ( NN sanitation ) ( NNS concerns ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Mr. Carver however believes the company 's egg product wo n't help the bottom line in the short run even though it makes sense it 's more convenient and justifies its price which is higher than shell eggs because of health and sanitation concerns


( S ( NP-SBJ ( JJ Prospective ) ( NN competition ) ) ( VP ( VBZ is ) ( NP-PRD ( CD one ) ( NN problem ) ) ) )

Prospective competition is one problem


( S ( NP-TMP ( JJ Last ) ( NN week ) ) ( NP-SBJ ( NP ( DT a ) ( ADJP ( RB closely ) ( VBN held ) ) ( NNP New ) ( NNP Jersey ) ( NN concern ) ) ( NP ( NNP Papetti ) ( NNP High-Grade ) ( NNP Egg ) ( NNP Products ) ( NNP Co. ) ) ) ( VP ( VBD rolled ) ( PRT ( RP out ) ) ( NP ( NP ( DT an ) ( ADJP ( RB aseptically ) ( VBN packaged ) ) ( VBN liquefied ) ( NN item ) ) ( VP ( VBN called ) ( S ( NP-PRD ( NNP Table ) ( NNP Ready ) ) ) ) ) ) )

Last week a closely held New Jersey concern Papetti High-Grade Egg Products Co. rolled out an aseptically packaged liquefied item called Table Ready


( S ( NP-SBJ ( NNP Company ) ( NNP President ) ( NNP Steve ) ( NNP Papetti ) ) ( VP ( VBZ says ) ( SBAR ( S ( NP-SBJ ( NN Marriott ) ) ( VP ( MD will ) ( VP ( VB be ) ( PP-PRD ( IN among ) ( NP ( PRP$ his ) ( NNS clients ) ) ) ( ADVP ( RB as ) ( RB well ) ) ) ) ) ) ) )

Company President Steve Papetti says Marriott will be among his clients as well


( S ( NP-SBJ ( NNP Michael ) ( NNS shares ) ) ( VP ( VBD closed ) ( PP-CLR ( IN at ) ( NP ( QP ( CD 13 ) ( CD 3\/4 ) ) ) ) ( NP-TMP ( NN yesterday ) ) ( PP-LOC ( IN in ) ( NP ( JJ national ) ( JJ over-the-counter ) ( NN trading ) ) ) ) )

Michael shares closed at 13 3\/4 yesterday in national over-the-counter trading


( SINV ( VP ( VBZ Says ) ) ( NP-SBJ ( ADJP ( NNP New ) ( JJ York-based ) ) ( JJ short ) ( NN seller ) ( NNP Mark ) ( NNP Cohodes ) ) ( S-1 ( PP ( IN In ) ( NP ( PRP$ my ) ( NN mind ) ) ) ( NP-SBJ ( DT this ) ) ( VP ( VBZ is ) ( NP-PRD ( DT a ) ( ADJP ( CD 7 ) ) ( NN stock ) ) ) ) )

Says New York-based short seller Mark Cohodes In my mind this is a 7 stock


( S ( NP-SBJ ( NNP Michael ) ) ( NP-TMP ( RB late ) ( NN yesterday ) ) ( VP ( VBD announced ) ( NP ( DT a ) ( ADJP ( QP ( CD 3.8 ) ( CD million ) ) ) ( NN stock ) ( JJ buy-back ) ( NN program ) ) ) )

Michael late yesterday announced a 3.8 million stock buy-back program


( S ( NP-SBJ ( NP ( NNP Michael ) ) ( SBAR ( WHNP-1 ( WDT which ) ) ( S ( ADVP ( RB also ) ) ( VP ( VBZ processes ) ( NP ( NNS potatoes ) ) ) ) ) ) ( ADVP ( RB still ) ) ( VP ( VBZ relies ) ( PP-CLR ( IN on ) ( NP ( NNS spuds ) ) ) ( PP ( IN for ) ( NP ( NP ( NP ( QP ( RB about ) ( DT a ) ( JJ fourth ) ) ) ( PP ( IN of ) ( NP ( PRP$ its ) ( NNS sales ) ) ) ) ( CC and ) ( NP ( QP ( RB nearly ) ( NN half ) ) ( PRP$ its ) ( JJ pretax ) ( NN profit ) ) ) ) ) )

Michael which also processes potatoes still relies on spuds for about a fourth of its sales and nearly half its pretax profit


( S ( CC But ) ( NP-SBJ ( NP ( JJ dry ) ( NN growing ) ( NNS conditions ) ) ( PP-LOC ( IN in ) ( NP ( NP ( DT the ) ( NNP Red ) ( NNP River ) ( NNP Valley ) ) ( PP ( IN of ) ( NP ( NP ( NNP Minnesota ) ) ( CC and ) ( NP ( NNP North ) ( NNP Dakota ) ) ) ) ) ) ) ( VP ( VBP are ) ( VP ( VBG pushing ) ( NP ( NP ( NN spot ) ( NNS prices ) ) ( PP ( IN of ) ( NP ( NNS potatoes ) ) ) ) ( PP-DIR ( IN beyond ) ( SBAR-NOM ( WHNP-1 ( WP what ) ) ( S ( NP-SBJ-2 ( NNP Michael ) ) ( VP ( VBD contracted ) ( S ( VP ( TO to ) ( VP ( VB pay ) ( NP-TMP ( JJ last ) ( NN spring ) ) ) ) ) ) ) ) ) ) ) )

But dry growing conditions in the Red River Valley of Minnesota and North Dakota are pushing spot prices of potatoes beyond what Michael contracted to pay last spring


( S ( NP-SBJ ( NN Company ) ( NNS lawyers ) ) ( ADVP-TMP ( RB recently ) ) ( VP ( VBD sent ) ( NP ( NNS letters ) ) ( PP-DTV ( TO to ) ( NP ( NNS growers ) ) ) ( S-ADV ( VP ( VBG saying ) ( SBAR ( IN that ) ( S ( NP-SBJ ( NNP Michael ) ) ( VP ( MD would ) ( VP ( VB take ) ( ADVP ( RB very ) ( RB seriously ) ) ( NP ( DT any ) ( NN effort ) ( S ( VP ( TO to ) ( VP ( VB divert ) ( NP ( PRP$ its ) ( JJ contracted-for ) ( NNS potatoes ) ) ( PP-DIR ( TO to ) ( NP ( JJ other ) ( NNS outlets ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Company lawyers recently sent letters to growers saying that Michael would take very seriously any effort to divert its contracted-for potatoes to other outlets


( S ( ADVP ( RB Still ) ) ( NP-SBJ ( NNS analysts ) ) ( VP ( VBP believe ) ( SBAR ( IN that ) ( S ( NP-SBJ ( NP ( NN profit ) ( NNS margins ) ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( NN potato ) ( NN business ) ) ) ) ( VP ( MD will ) ( VP ( VB be ) ( ADVP-PRD ( RB down ) ) ( ADVP ( RB again ) ) ( NP-TMP ( DT this ) ( NN year ) ) ) ) ) ) ) )

Still analysts believe that profit margins in the potato business will be down again this year


( S ( NP-SBJ ( NNP Hewlett-Packard ) ( NNP Co. ) ) ( VP ( MD will ) ( VP ( VB announce ) ( NP-TMP ( NN today ) ) ( NP ( NP ( DT a ) ( NN software ) ( NN program ) ) ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( VP ( VBZ allows ) ( S ( NP-SBJ-2 ( NP ( NNS computers ) ) ( PP-LOC ( IN in ) ( NP ( DT a ) ( NN network ) ) ) ) ( VP ( TO to ) ( VP ( VB speed ) ( PRT ( RP up ) ) ( NP ( NN computing ) ( NNS tasks ) ) ( PP-MNR ( IN by ) ( S-NOM ( VP ( VBG sending ) ( NP ( DT the ) ( NNS tasks ) ) ( PP-DIR ( TO to ) ( NP ( DT each ) ( JJ other ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Hewlett-Packard Co. will announce today a software program that allows computers in a network to speed up computing tasks by sending the tasks to each other


( S ( S-ADV ( VP ( VBD Called ) ( S ( NP-TTL-PRD ( NNP Task ) ( NNP Broker ) ) ) ) ) ( NP-SBJ-2 ( DT the ) ( NN program ) ) ( VP ( VBZ acts ) ( PP ( NP-ADV ( NN something ) ) ( IN like ) ( NP ( NP ( DT an ) ( NN auctioneer ) ) ( PP-LOC ( IN among ) ( NP ( NP ( DT a ) ( NN group ) ) ( PP ( IN of ) ( NP ( NNS computers ) ) ) ( VP ( VBN wired ) ( ADVP-CLR ( RB together ) ) ) ) ) ) ) ) )

Called Task Broker the program acts something like an auctioneer among a group of computers wired together


( S ( SBAR-ADV ( IN If ) ( S ( NP-SBJ ( DT a ) ( NN machine ) ) ( VP ( VBZ has ) ( NP ( DT a ) ( JJ big ) ( NN computing ) ( NN task ) ) ) ) ) ( NP-SBJ ( NNP Task ) ( NNP Broker ) ) ( VP ( VBZ asks ) ( NP ( NP ( JJ other ) ( NNS computers ) ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( NN network ) ) ) ) ( PP-CLR ( IN for ) ( NP ( NP ( NNS bids ) ) ( PP ( IN on ) ( NP ( DT the ) ( NN job ) ) ) ) ) ) )

If a machine has a big computing task Task Broker asks other computers in the network for bids on the job


( S ( NP-SBJ ( PRP It ) ) ( ADVP ( RB then ) ) ( VP ( VP ( VBZ determines ) ( SBAR ( WHNP-1 ( WDT which ) ( NN machine ) ) ( S ( VP ( VBZ is ) ( ADJP-PRD ( JJ free ) ( S ( VP ( TO to ) ( VP ( VB do ) ( NP ( DT the ) ( NN task ) ) ( ADVP-MNR ( RBS most ) ( RB quickly ) ) ) ) ) ) ) ) ) ) ( CC and ) ( VP ( VBZ sends ) ( NP ( DT the ) ( NN task ) ) ( PP-DIR ( TO to ) ( NP ( DT that ) ( NN machine ) ) ) ) ) )

It then determines which machine is free to do the task most quickly and sends the task to that machine


( S ( NP-SBJ ( NNP Hewlett-Packard ) ) ( VP ( VBZ claims ) ( SBAR ( IN that ) ( S ( NP-SBJ ( DT the ) ( NN software ) ) ( VP ( VP ( VBZ allows ) ( S ( NP-SBJ ( DT a ) ( NN network ) ) ( VP ( TO to ) ( VP ( VB run ) ( NP ( NP ( ADJP ( QP ( CD three ) ( NNS times ) ) ( IN as ) ( JJ many ) ) ( NNS tasks ) ) ( PP ( IN as ) ( NP ( JJ conventional ) ( NNS networks ) ) ) ) ) ) ) ) ( CC and ) ( VP ( MD will ) ( VP ( VB run ) ( NP ( DT each ) ( NN task ) ) ( ADVP-MNR ( RB twice ) ( IN as ) ( JJ fast ) ) ) ) ) ) ) ) )

Hewlett-Packard claims that the software allows a network to run three times as many tasks as conventional networks and will run each task twice as fast


( S-1 ( NP-SBJ ( DT The ) ( JJ new ) ( NNP Hewlett-Packard ) ( NN program ) ) ( PRN ( SINV ( VP ( VBD said ) ) ( NP-SBJ ( NP ( NN analyst ) ( NNP John ) ( NNP McCarthy ) ) ( PP-LOC ( IN at ) ( NP ( NP ( NNP Forrester ) ( NNP Research ) ( NNP Inc. ) ) ( NP ( DT a ) ( JJ computer-market ) ( NN research ) ( NN company ) ) ) ) ) ) ) ( VP ( VBZ is ) ( NP-PRD ( DT a ) ( JJ key ) ( NN building ) ( NN block ) ) ( SBAR-ADV ( IN as ) ( S ( NP-SBJ ( NNS people ) ) ( VP ( VBP move ) ( PP-DIR ( TO to ) ( NP ( NP ( DT this ) ( JJ new ) ( NN model ) ) ( PP ( IN of ) ( NP ( VBN distributed ) ( NN processing ) ) ) ) ) ) ) ) ) )

The new Hewlett-Packard program said analyst John McCarthy at Forrester Research Inc. a computer-market research company is a key building block as people move to this new model of distributed processing


( S ( PP-LOC ( IN In ) ( NP ( NP ( NN today ) ( POS 's ) ) ( NN computer ) ( NNS networks ) ) ) ( NP-SBJ-2 ( DT some ) ( NNS machines ) ) ( ADVP-TMP ( RB often ) ) ( VP ( VBP sit ) ( S-ADV ( ADJP-PRD ( JJ idle ) ) ) ( SBAR-TMP ( IN while ) ( S ( NP-SBJ-1 ( NNS others ) ) ( VP ( VBP are ) ( VP ( VBN overtaxed ) ) ) ) ) ) )

In today 's computer networks some machines often sit idle while others are overtaxed


( S-2 ( PP ( IN With ) ( NP ( DT the ) ( NNP Hewlett-Packard ) ( NN program ) ) ) ( PRN ( S ( NP-SBJ ( PRP he ) ) ( VP ( VBD said ) ) ) ) ( NP-SBJ ( PRP You ) ) ( VP ( VBP get ) ( NP ( NP ( JJR more ) ( NN bang ) ) ( PP ( IN for ) ( NP ( NP ( DT the ) ( NN buck ) ) ( SBAR ( S ( NP-SBJ ( PRP you ) ) ( VP ( VBP 've ) ( VP ( VBN spent ) ( PP-CLR ( IN on ) ( NP ( NNS computers ) ) ) ) ) ) ) ) ) ) ) )

With the Hewlett-Packard program he said You get more bang for the buck you 've spent on computers


( S ( NP-SBJ ( NP ( DT The ) ( NN program ) ) ( SBAR ( WHNP-2 ( WDT which ) ) ( S ( VP ( MD will ) ( VP ( VB be ) ( VP ( VBN shipped ) ( PP-TMP ( IN in ) ( NP ( NNP January ) ( CD 1990 ) ) ) ) ) ) ) ) ) ( VP ( VBZ runs ) ( PP-LOC-CLR ( IN on ) ( NP ( DT the ) ( NNP Unix ) ( NN operating ) ( NN system ) ) ) ) )

The program which will be shipped in January 1990 runs on the Unix operating system


( S ( NP-SBJ ( NNP Hewlett-Packard ) ) ( VP ( MD will ) ( VP ( VB charge ) ( NP ( CD 5,000 ) ) ( PP-CLR ( IN for ) ( NP ( NP ( DT a ) ( NN license ) ) ( VP ( VBG covering ) ( NP ( CD 10 ) ( NNS users ) ) ) ) ) ) ) )

Hewlett-Packard will charge 5,000 for a license covering 10 users


( S ( NP-SBJ ( DT The ) ( NN program ) ) ( ADVP-TMP ( RB now ) ) ( VP ( VBZ works ) ( PP-LOC-CLR ( PP ( IN on ) ( NP ( DT all ) ( NNP Hewlett-Packard ) ( CC and ) ( NNP Apollo ) ( NNS workstations ) ) ) ( CC and ) ( PP ( IN on ) ( NP ( NP ( NNS computers ) ) ( VP ( VBN made ) ( PP ( IN by ) ( NP-LGS ( NP ( NNP Multiflow ) ( NNP Computer ) ( NNP Inc. ) ) ( PP ( IN of ) ( NP-LOC ( NP ( NNP Branford ) ) ( NP ( NNP Conn ) ) ) ) ) ) ) ) ) ) ) )

The program now works on all Hewlett-Packard and Apollo workstations and on computers made by Multiflow Computer Inc. of Branford Conn


( S ( NP-SBJ ( NNP Hewlett-Packard ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( PRP it ) ) ( VP ( MD will ) ( VP ( VB sell ) ( NP ( NP ( NNS versions ) ) ) ( NP-TMP ( RBR later ) ( JJ next ) ( NN year ) ) ( SBAR-2 ( WHNP-1 ( IN that ) ) ( S ( VP ( VBP run ) ( PP-LOC-CLR ( IN on ) ( NP ( NP ( NNP Sun ) ( NNP Microsystems ) ( NNP Inc. ) ) ( CC and ) ( NP ( NNP Digital ) ( NNP Equipment ) ( NNP Corp. ) ( NNS machines ) ) ) ) ) ) ) ) ) ) ) ) )

Hewlett-Packard said it will sell versions later next year that run on Sun Microsystems Inc. and Digital Equipment Corp. machines


( S ( NP-SBJ ( DT The ) ( NNP Task ) ( NNP Broker ) ) ( VP ( VBZ differs ) ( PP-CLR ( IN from ) ( NP ( NP ( JJ other ) ( NNS programs ) ) ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( VP ( VBP spread ) ( NP ( VBG computing ) ( NNS tasks ) ) ( PP-DIR ( IN around ) ( NP ( DT a ) ( NN network ) ) ) ) ) ) ) ) ) )

The Task Broker differs from other programs that spread computing tasks around a network


( S ( NP-SBJ-1 ( NP ( DT A ) ( ADJP ( RB previously ) ( JJ available ) ) ( NN program ) ) ( VP ( VBN called ) ( S ( NP-PRD ( NNP Network ) ( NNP Computing ) ( NNP System ) ) ) ) ( VP ( VBN developed ) ( PP ( IN by ) ( NP-LGS ( NP ( NNP Hewlett-Packard ) ( POS 's ) ) ( NNP Apollo ) ( NN division ) ) ) ) ) ( PP ( IN for ) ( NP ( NN instance ) ) ) ( VP ( VP ( VBZ takes ) ( NP ( DT a ) ( NN task ) ) ) ( CC and ) ( VP ( VBZ splits ) ( NP ( PRP it ) ) ( PRT ( RP up ) ) ( PP-CLR ( IN into ) ( NP ( NNS parts ) ) ) ) ( S-ADV ( VP ( VBG divvying ) ( PRT ( RP up ) ) ( NP ( DT those ) ( NNS parts ) ) ( PP-DIR ( TO to ) ( NP ( NP ( JJ several ) ( NNS computers ) ) ( PP-LOC ( IN in ) ( NP ( DT a ) ( NN network ) ) ) ) ) ( PP ( IN for ) ( NP ( JJ simultaneous ) ( NN processing ) ) ) ) ) ) )

A previously available program called Network Computing System developed by Hewlett-Packard 's Apollo division for instance takes a task and splits it up into parts divvying up those parts to several computers in a network for simultaneous processing


( S ( CC But ) ( NP-SBJ-1 ( NP ( NNS programs ) ) ( PP-LOC ( IN in ) ( NP ( JJ individual ) ( NNS computers ) ) ) ) ( VP ( MD must ) ( VP ( VB be ) ( VP ( VBN revised ) ( SBAR-PRP ( IN in ) ( NN order ) ( S ( VP ( TO to ) ( VP ( VB work ) ( PP-CLR ( IN with ) ( NP ( DT that ) ( NN system ) ) ) ) ) ) ) ) ) ) )

But programs in individual computers must be revised in order to work with that system


( S-2 ( S ( NP-SBJ-1 ( NNS Applications ) ) ( VP ( MD wo ) ( RB n't ) ( VP ( VB have ) ( S ( VP ( TO to ) ( VP ( VB be ) ( VP ( VBN rewritten ) ( S-PRP ( VP ( TO to ) ( VP ( VB work ) ( PP-CLR ( IN with ) ( NP ( NNP Task ) ( NNP Broker ) ) ) ) ) ) ) ) ) ) ) ) ) ( PRN ( S ( NP-SBJ ( NNP Hewlett-Packard ) ) ( VP ( VBD said ) ) ) ) ( CC and ) ( S ( NP-SBJ-4 ( NP ( DT the ) ( NN user ) ) ( PP ( IN of ) ( NP ( DT a ) ( NN computer ) ) ) ) ( VP ( MD wo ) ( RB n't ) ( VP ( VB be ) ( ADJP-PRD ( JJ able ) ( S ( VP ( TO to ) ( VP ( VB tell ) ( SBAR ( IN that ) ( S ( NP-SBJ ( DT another ) ( NN machine ) ) ( VP ( VBZ is ) ( VP ( VBG doing ) ( NP ( DT the ) ( NN work ) ) ) ) ) ) ) ) ) ) ) ) ) )

Applications wo n't have to be rewritten to work with Task Broker Hewlett-Packard said and the user of a computer wo n't be able to tell that another machine is doing the work


( SINV ( S-TPC-2 ( NP-SBJ ( DT The ) ( NNP Task ) ( NNP Broker ) ) ( VP ( VBZ turns ) ( NP ( DT that ) ( NN network ) ) ( PP-CLR ( IN into ) ( PRN ( ADJP ( ADJP ( RB as ) ( RB far ) ) ( SBAR ( IN as ) ( S ( NP-SBJ-1 ( DT the ) ( NN user ) ) ( VP ( VBZ is ) ( VP ( VBN concerned ) ) ) ) ) ) ) ( NP ( CD one ) ( JJ giant ) ( NN computer ) ) ) ) ) ( VP ( VBD said ) ) ( NP-SBJ ( NP ( NNP Bill ) ( NNP Kay ) ) ( NP ( NP ( JJ general ) ( NN manager ) ) ( PP ( IN of ) ( NP ( NP ( NNP Hewlett-Packard ) ( POS 's ) ) ( NN workstation ) ( NN group ) ) ) ) ) )

The Task Broker turns that network into as far as the user is concerned one giant computer said Bill Kay general manager of Hewlett-Packard 's workstation group


( S ( NP-SBJ ( DT The ) ( NNP Senate ) ) ( VP ( VBD rejected ) ( NP ( NP ( DT a ) ( JJ constitutional ) ( NN amendment ) ) ( SBAR ( WHNP-1 ( IN that ) ) ( S ( NP-SBJ-2 ( NNP President ) ( NNP Bush ) ) ( VP ( VBD sought ) ( S-PRP ( VP ( TO to ) ( VP ( VB protect ) ( NP ( DT the ) ( NNP U.S. ) ( NN flag ) ) ( PP-CLR ( IN from ) ( NP ( NN desecration ) ) ) ) ) ) ) ) ) ) ) )

The Senate rejected a constitutional amendment that President Bush sought to protect the U.S. flag from desecration


( S ( NP-SBJ ( DT The ) ( JJ 51-48 ) ( NN roll ) ( NN call ) ) ( VP ( VBD fell ) ( S-CLR ( ADJP-PRD ( RB well ) ( JJ short ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( NNS two-thirds ) ( NN majority ) ) ( VP ( VBD needed ) ( S-CLR ( VP ( TO to ) ( VP ( VB approve ) ( NP ( NP ( NNS changes ) ) ( PP ( TO to ) ( NP ( DT the ) ( NNP Constitution ) ) ) ) ) ) ) ) ) ) ) ) ) )

The 51-48 roll call fell well short of the two-thirds majority needed to approve changes to the Constitution


( S ( NP-SBJ ( NP ( DT The ) ( NN vote ) ) ( SBAR ( WHPP-2 ( IN in ) ( WHNP ( WDT which ) ) ) ( S ( NP-SBJ ( CD 11 ) ( NNP GOP ) ( NNS lawmakers ) ) ( VP ( VBD voted ) ( PP-CLR ( IN against ) ( NP ( NP ( NNP Mr. ) ( NNP Bush ) ( POS 's ) ) ( NN position ) ) ) ) ) ) ) ( VP ( VBD was ) ( NP-PRD ( DT a ) ( NN victory ) ) ( PP ( IN for ) ( NP ( NP ( JJ Democratic ) ( NNS leaders ) ) ( SBAR ( WHNP-1 ( WP who ) ) ( S ( VP ( VBD opposed ) ( NP ( DT the ) ( NN amendment ) ) ( PP-CLR ( IN as ) ( NP ( NP ( DT an ) ( NN intrusion ) ) ( PP ( IN on ) ( NP ( NP ( DT the ) ( NNP Bill ) ) ( PP ( IN of ) ( NP ( NNP Rights ) ) ) ) ) ) ) ) ) ) ) ) ) )

The vote in which 11 GOP lawmakers voted against Mr. Bush 's position was a victory for Democratic leaders who opposed the amendment as an intrusion on the Bill of Rights


( SINV ( S-TPC-1 ( NP-SBJ-2 ( PRP We ) ) ( VP ( MD can ) ( VP ( VB support ) ( NP ( DT the ) ( JJ American ) ( NN flag ) ) ( PP ( IN without ) ( S-NOM ( VP ( VBG changing ) ( NP ( DT the ) ( NNP American ) ( NNP Constitution ) ) ) ) ) ) ) ) ( VP ( VBD said ) ) ( NP-SBJ ( NP ( NNP Senate ) ( NNP Majority ) ( NNP Leader ) ( NNP George ) ( NNP Mitchell ) ) ( PP ( IN of ) ( NP ( NNP Maine ) ) ) ) )

We can support the American flag without changing the American Constitution said Senate Majority Leader George Mitchell of Maine


( S ( SBAR-PRP ( IN In ) ( NN order ) ( S ( VP ( TO to ) ( VP ( VB defuse ) ( NP ( NP ( NN pressure ) ) ( PP ( IN for ) ( NP ( DT an ) ( NN amendment ) ) ) ) ) ) ) ) ( NP-SBJ-1 ( NP ( NNP Mr. ) ( NNP Mitchell ) ) ( CC and ) ( NP ( NP ( NNP House ) ( NNP Speaker ) ( NNP Thomas ) ( NNP Foley ) ) ( PRN ( NP ( NNP D. ) ) ( NP-LOC ( NNP Wash ) ) ) ) ) ( VP ( VBD had ) ( VP ( VBN arranged ) ( SBAR-CLR ( IN for ) ( S ( NP-SBJ-2 ( NNS lawmakers ) ) ( VP ( TO to ) ( VP ( VB pass ) ( NP ( NP ( DT a ) ( NN statute ) ) ( VP ( VBG barring ) ( NP ( NN flag ) ( NN desecration ) ) ) ) ( PP-TMP ( IN before ) ( S-NOM ( VP ( VBG voting ) ( PP-CLR ( IN on ) ( NP ( DT the ) ( JJ constitutional ) ( NN change ) ) ) ) ) ) ) ) ) ) ) ) )

In order to defuse pressure for an amendment Mr. Mitchell and House Speaker Thomas Foley D. Wash had arranged for lawmakers to pass a statute barring flag desecration before voting on the constitutional change


( S ( NP-SBJ ( NNP Mr. ) ( NNP Bush ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( PRP he ) ) ( VP ( MD would ) ( VP ( VB allow ) ( S ( NP-SBJ ( DT the ) ( NN bill ) ) ( VP ( TO to ) ( VP ( VB become ) ( NP-PRD ( NN law ) ) ( PP ( IN without ) ( NP ( PRP$ his ) ( NN signature ) ) ) ) ) ) ( SBAR-PRP ( IN because ) ( S ( NP-SBJ ( PRP he ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( RB only ) ( DT a ) ( JJ constitutional ) ( NN amendment ) ) ( VP ( MD can ) ( VP ( VB protect ) ( NP ( DT the ) ( NN flag ) ) ( ADVP-MNR ( RB adequately ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Mr. Bush said he would allow the bill to become law without his signature because he said only a constitutional amendment can protect the flag adequately


( S ( PP-TMP ( IN In ) ( NP ( NNP June ) ) ) ( NP-SBJ-4 ( DT the ) ( NNP Supreme ) ( NNP Court ) ) ( VP ( VBD threw ) ( PRT ( RP out ) ) ( NP ( NP ( DT the ) ( NN conviction ) ) ( PP ( IN of ) ( NP ( NP ( DT a ) ( NNP Texas ) ( NN man ) ) ( SBAR ( WHNP-2 ( WP who ) ) ( S ( VP ( VBD set ) ( S ( NP-SBJ ( DT a ) ( NN flag ) ) ( ADVP-PRD ( RB afire ) ) ) ( PP-TMP ( IN during ) ( NP ( DT a ) ( CD 1984 ) ( NN demonstration ) ) ) ) ) ) ) ) ) ( S-ADV ( VP ( VBG saying ) ( SBAR ( S ( NP-SBJ ( PRP he ) ) ( VP ( VBD was ) ( VP ( VBG engaging ) ( PP-CLR ( IN in ) ( NP ( NP ( JJ political ) ( NN expression ) ) ( SBAR ( WHNP-3 ( WDT that ) ) ( S ( VP ( VBZ is ) ( VP ( VBN protected ) ( PP ( IN by ) ( NP-LGS ( DT the ) ( NNP First ) ( NNP Amendment ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

In June the Supreme Court threw out the conviction of a Texas man who set a flag afire during a 1984 demonstration saying he was engaging in political expression that is protected by the First Amendment


( S ( NP-SBJ-1 ( NNP Jeffrey ) ( NNP E. ) ( NNP Levin ) ) ( VP ( VBD was ) ( VP ( VBN named ) ( S ( NP-PRD ( NP ( NP ( NN vice ) ( NN president ) ) ( CC and ) ( NP ( JJ chief ) ( NN economist ) ) ) ( PP-2 ( IN of ) ( NP ( DT this ) ( NN commodity ) ( NNS futures ) ( CC and ) ( NNS options ) ( NN exchange ) ) ) ) ) ) ) )

Jeffrey E. Levin was named vice president and chief economist of this commodity futures and options exchange


( S ( NP-SBJ ( PRP He ) ) ( VP ( VBD had ) ( VP ( VBN been ) ( NP-PRD ( NP ( JJ associate ) ( NN professor ) ) ( PP-LOC ( IN in ) ( NP ( NP ( DT the ) ( NN department ) ) ( PP ( IN of ) ( NP ( NN finance ) ) ) ) ) ( PP-LOC ( IN at ) ( NP ( NNP Seton ) ( NNP Hall ) ( NNP University ) ) ) ) ) ) )

He had been associate professor in the department of finance at Seton Hall University


( S ( NP-SBJ ( DT The ) ( NNP Environmental ) ( NNP Protection ) ( NNP Agency ) ) ( VP ( VBZ is ) ( VP ( VBG getting ) ( NP ( DT a ) ( NN lot ) ) ( PP-CLR ( IN out ) ( PP ( IN of ) ( NP ( DT the ) ( NNP Superfund ) ( NN program ) ) ) ) ) ) )

The Environmental Protection Agency is getting a lot out of the Superfund program


( S ( S-TPC-1 ( PP-TPC-2 ( IN Of ) ( NP ( NP ( DT the ) ( QP ( CD 4.4 ) ( CD billion ) ) ) ( VP ( VBN spent ) ( ADVP-TMP ( RB so ) ( RB far ) ) ( PP-CLR ( IN on ) ( NP ( DT the ) ( NN program ) ) ) ) ) ) ( NP-SBJ ( NP ( CD 60 ) ( NN % ) ) ) ( VP ( VBZ is ) ( VP ( VBG going ) ( PP-CLR ( IN for ) ( NP ( NP ( JJ administrative ) ( NNS costs ) ) ( NP ( NN management ) ) ( CC and ) ( NP ( NN research ) ) ) ) ) ) ) ( NP-SBJ ( NP ( DT the ) ( NNP Office ) ) ( PP ( IN of ) ( NP ( NNP Technology ) ( NNP Assessment ) ) ) ) ( ADVP ( RB just ) ) ( VP ( VBD reported ) ) )

Of the 4.4 billion spent so far on the program 60 % is going for administrative costs management and research the Office of Technology Assessment just reported


( S ( NP-SBJ-1 ( QP ( RB Only ) ( CD 36 ) ( IN of ) ( CD 1,200 ) ) ( JJ priority ) ( NN cleanup ) ( NNS sites ) ) ( VP ( VBP have ) ( VP ( VBN been ) ( VP ( VBN decontaminated ) ) ) ) )

Only 36 of 1,200 priority cleanup sites have been decontaminated


( S ( PP-TMP ( IN Over ) ( NP ( DT the ) ( JJ next ) ( CD 50 ) ( NNS years ) ) ) ( NP-SBJ-2 ( QP ( CD 500 ) ( CD billion ) ) ) ( VP ( VBZ is ) ( VP ( VBN earmarked ) ( PP-CLR ( IN for ) ( NP ( DT the ) ( NN program ) ) ) ) ) )

Over the next 50 years 500 billion is earmarked for the program


( S ( PP ( IN At ) ( NP ( JJ current ) ( NNS allocations ) ) ) ( NP-SBJ ( WDT that ) ) ( VP ( VBZ means ) ( SBAR ( S ( NP-SBJ ( NNP EPA ) ) ( VP ( MD will ) ( VP ( VB be ) ( VP ( VBG spending ) ( NP ( QP ( CD 300 ) ( CD billion ) ) ) ( PP-CLR ( IN on ) ( NP ( PRP itself ) ) ) ) ) ) ) ) ) )

At current allocations that means EPA will be spending 300 billion on itself


( S ( NP-SBJ ( PRP It ) ) ( VP ( MD may ) ( RB not ) ( VP ( VB be ) ( ADJP-PRD ( JJ toxic ) ) ) ) ( CC but ) ( S ( NP-SBJ ( PRP we ) ) ( VP ( VBP know ) ( SBAR ( WHADVP-1 ( WRB where ) ) ( S ( NP-SBJ ( CD one ) ( NN waste ) ( NN dump ) ) ( VP ( VBZ is ) ) ) ) ) ) )

It may not be toxic but we know where one waste dump is


( S ( NP-SBJ ( PRP YOU ) ) ( VP ( VP ( VBD WENT ) ( PP-DIR ( TO to ) ( NP ( NN college ) ) ) ) ( CC and ) ( VP ( VBD thought ) ( SBAR ( S ( NP-SBJ ( PRP you ) ) ( VP ( VBD got ) ( NP ( DT an ) ( NN education ) ) ) ) ) ) ) )

YOU WENT to college and thought you got an education


( S ( ADVP-TMP ( RB Now ) ) ( NP-SBJ ( PRP you ) ) ( VP ( VBP discover ) ( SBAR ( IN that ) ( S ( NP-SBJ ( PRP you ) ) ( ADVP-TMP ( RB never ) ) ( VP ( VBD learned ) ( NP ( NP ( DT the ) ( ADJP ( RBS most ) ( JJ important ) ) ( NN lesson ) ) ( SBAR ( WHADVP-1 ( WRB How ) ) ( S ( VP ( TO to ) ( VP ( VB send ) ( NP ( PRP$ your ) ( NNS kids ) ) ( PP-DIR ( TO to ) ( NP ( NN college ) ) ) ) ) ) ) ) ) ) ) ) )

Now you discover that you never learned the most important lesson How to send your kids to college


( S ( S-ADV ( ADJP-PRD ( JJ True ) ) ) ( SBAR-TMP ( WHADVP-1 ( WRB when ) ) ( S ( NP-SBJ ( PRP you ) ) ( VP ( VBD went ) ( PP-DIR ( TO to ) ( NP ( NN college ) ) ) ) ) ) ( NP-SBJ ( RB there ) ) ( VP ( VBD was ) ( RB n't ) ( NP-PRD ( NP ( RB that ) ( JJ much ) ) ( SBAR ( S ( VP ( TO to ) ( VP ( VB learn ) ) ) ) ) ) ) )

True when you went to college there was n't that much to learn


( S ( VP ( VP ( VB Stick ) ( NP ( DT some ) ( NN money ) ) ( PP-CLR ( IN in ) ( NP ( DT an ) ( JJ interest-bearing ) ( NN account ) ) ) ) ( CC and ) ( VP ( VB watch ) ( S ( NP-SBJ ( PRP it ) ) ( VP ( VB grow ) ) ) ) ) )

Stick some money in an interest-bearing account and watch it grow


( S ( ADVP-TMP ( RB Now ) ) ( NP-SBJ ( NN investment ) ( NNS salesmen ) ) ( VP ( VBP say ) ( SBAR ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBZ 's ) ( NP-PRD ( NP ( NN time ) ) ( SBAR ( S ( VP ( TO to ) ( VP ( VB take ) ( NP ( DT some ) ( NNS risks ) ) ) ) ) ) ) ( SBAR-ADV ( IN if ) ( S ( NP-SBJ ( PRP you ) ) ( VP ( VBP want ) ( NP ( NP ( DT the ) ( NN kind ) ) ( PP ( IN of ) ( NP ( NNS returns ) ) ) ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( VP ( MD will ) ( VP ( VB buy ) ( NP-BNF ( PRP$ your ) ( NN toddler ) ) ( NP ( NP ( DT a ) ( NN ticket ) ) ( PP ( TO to ) ( NP ( NNP Prestige ) ( NNP U. ) ) ) ) ( PP-TMP ( IN in ) ( NP ( CD 18 ) ( NNS years ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Now investment salesmen say it 's time to take some risks if you want the kind of returns that will buy your toddler a ticket to Prestige U. in 18 years


( S ( PP ( IN In ) ( NP ( JJ short ) ) ) ( VP ( VP ( VB throw ) ( ADVP-CLR ( RB away ) ) ( NP ( DT the ) ( NN passbook ) ) ) ( CC and ) ( VP ( VB go ) ( PP-CLR ( IN for ) ( NP ( DT the ) ( NN glory ) ) ) ) ) )

In short throw away the passbook and go for the glory


( S ( NP-SBJ ( DT The ) ( NN reason ) ) ( VP ( VBZ is ) ( NP-PRD ( NN cost ) ) ) )

The reason is cost


( S ( NP-SBJ ( NP ( NN Nothing ) ) ( PP-LOC ( IN in ) ( NP ( NP ( DT the ) ( NN annals ) ) ( PP ( IN of ) ( NP ( NN tuition ) ) ) ) ) ) ( VP ( VBD readied ) ( NP ( NNS parents ) ) ( PP-CLR ( IN for ) ( NP ( DT the ) ( NNS 1980s ) ) ) ) )

Nothing in the annals of tuition readied parents for the 1980s