( S ( S-TPC-1 ( NP-SBJ ( NP ( NNP DDB ) ( NNP Needham ) ( POS 's ) ) ( NN office ) ( NN building ) ) ( VP ( MD may ) ( VP ( VB have ) ( VP ( VBN sustained ) ( NP ( JJ structural ) ( NN damage ) ) ) ) ) ) ( NP-SBJ ( DT the ) ( NN spokesman ) ) ( VP ( VBD added ) ) )

DDB Needham 's office building may have sustained structural damage the spokesman added


( S ( S-TPC-1 ( NP-SBJ ( DT All ) ( NNS operations ) ) ( VP ( VBP have ) ( VP ( VBN stopped ) ) ) ) ( NP-SBJ ( PRP he ) ) ( VP ( VBD said ) ) )

All operations have stopped he said


( S ( NP-SBJ ( NP ( DT A ) ( NN number ) ) ( PP ( IN of ) ( NP ( NNS agencies ) ) ) ( PP ( VBG including ) ( NP ( NNP Thompson ) ( CC and ) ( NNP Foote ) ( NNP Cone ) ( CC & ) ( NNP Belding ) ) ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ-2 ( NP ( DT some ) ( NNS employees ) ) ( SBAR ( WHNP-1 ( WP who ) ) ( S ( VP ( VBP live ) ( PP-LOC ( IN outside ) ( PP ( IN of ) ( NP ( NNP San ) ( NNP Francisco ) ) ) ) ) ) ) ) ( S-ADV ( ADJP-PRD ( JJ fearful ) ( SBAR ( IN that ) ( S ( NP-SBJ-3 ( PRP they ) ) ( VP ( MD would ) ( RB n't ) ( VP ( VB be ) ( ADJP-PRD ( JJ able ) ( S ( VP ( TO to ) ( VP ( VB get ) ( ADVP-DIR ( RB home ) ) ) ) ) ) ) ) ) ) ) ) ( VP ( VBD spent ) ( NP ( DT the ) ( NN night ) ) ( PP-LOC ( IN at ) ( NP ( DT the ) ( NN agency ) ) ) ) ) ) ) )

A number of agencies including Thompson and Foote Cone & Belding said some employees who live outside of San Francisco fearful that they would n't be able to get home spent the night at the agency


Ad Notes


NEW ACCOUNT


( S ( NP-SBJ ( NP ( NP ( NNP Chesebrough-Pond ) ( POS 's ) ) ( NNP Inc. ) ) ( NP-LOC ( NP ( NNP Greenwich ) ) ( NP ( NNP Conn. ) ) ) ) ( VP ( VBD awarded ) ( NP ( PRP$ its ) ( NNP Faberge ) ( NN hair ) ( NN care ) ( NNS accounts ) ) ( PP-DTV ( TO to ) ( NP ( NP ( NNP J. ) ( NNP Walter ) ( NNP Thompson ) ) ( NP-LOC ( NNP New ) ( NNP York ) ) ) ) ) )

Chesebrough-Pond 's Inc. Greenwich Conn. awarded its Faberge hair care accounts to J. Walter Thompson New York


( S ( NP-SBJ ( NP ( NNP Thompson ) ) ( NP ( NP ( DT a ) ( NN unit ) ) ( PP ( IN of ) ( NP ( NNP WPP ) ( NNP Group ) ) ) ) ) ( VP ( MD will ) ( VP ( VB handle ) ( NP ( NP ( NNP Faberge ) ( NNP Organic ) ( NN shampoo ) ( CC and ) ( NN conditioner ) ) ( CC and ) ( NP ( NNP Aqua ) ( NNP Net ) ( NN hairspray ) ) ) ) ) )

Thompson a unit of WPP Group will handle Faberge Organic shampoo and conditioner and Aqua Net hairspray


( S ( NP-SBJ-2 ( NP ( DT The ) ( NNS accounts ) ) ( SBAR ( WHNP-1 ( WDT which ) ) ( S ( VP ( VBD billed ) ( NP ( QP ( IN about ) ( CD 7 ) ( CD million ) ) ) ( NP-TMP ( JJ last ) ( NN year ) ) ( PP ( VBG according ) ( PP ( TO to ) ( NP ( VBG Leading ) ( NNP National ) ( NNPS Advertisers ) ) ) ) ) ) ) ) ( VP ( VBD were ) ( ADVP-TMP ( RB previously ) ) ( VP ( VBN handled ) ( PP-LOC ( IN at ) ( NP ( NP ( NNP Bozell ) ) ( NP-LOC ( NNP New ) ( NNP York ) ) ) ) ) ) )

The accounts which billed about 7 million last year according to Leading National Advertisers were previously handled at Bozell New York


( SBARQ-HLN ( WHNP-1 ( WP WHO ) ) ( SQ ( VP ( VBZ 'S ) ( NP-PRD ( NNP NEWS ) ) ) ) )

WHO 'S NEWS


( S ( NP-SBJ-1 ( NP ( NNP William ) ( NNP Morrissey ) ) ( NP ( CD 44 ) ) ) ( VP ( VBD was ) ( VP ( VBN named ) ( S ( NP-PRD ( NP ( NP ( NN executive ) ( NN vice ) ( NN president ) ) ( NP ( JJ world-wide ) ( NN director ) ) ) ( PP ( IN of ) ( NP ( NP ( NNP McCann ) ( NNP Direct ) ) ( NP ( NP ( DT the ) ( JJ direct ) ( NN marketing ) ( NN unit ) ) ( PP ( IN of ) ( NP ( NP ( NNP Interpublic ) ( NNP Group ) ( POS 's ) ) ( NNP McCann-Erickson ) ( NN agency ) ) ) ) ) ) ) ) ) ) )

William Morrissey 44 was named executive vice president world-wide director of McCann Direct the direct marketing unit of Interpublic Group 's McCann-Erickson agency


( S ( NP-SBJ ( PRP He ) ) ( VP ( VBD had ) ( VP ( VBN been ) ( NP-PRD ( NP ( NP ( NN president ) ) ( CC and ) ( NP ( NN chief ) ( NN operating ) ( NN officer ) ) ) ( PP ( IN of ) ( NP ( NNP Ogilvy ) ( CC & ) ( NNP Mather ) ( NNP Direct ) ) ) ) ) ) )

He had been president and chief operating officer of Ogilvy & Mather Direct


BOZELL


( S ( NP-SBJ ( NNP Los ) ( NNP Angeles ) ) ( VP ( MD will ) ( VP ( VB be ) ( NP-PRD ( NP ( DT the ) ( NN site ) ) ( PP ( IN of ) ( NP ( NP ( DT a ) ( JJ new ) ( NN entertainment ) ( NN division ) ) ( PP ( IN for ) ( NP ( DT the ) ( NN ad ) ( NN agency ) ) ) ) ) ) ) ) )

Los Angeles will be the site of a new entertainment division for the ad agency


( S ( NP-SBJ-1 ( DT The ) ( NN division ) ) ( VP ( MD will ) ( VP ( VB be ) ( VP ( VBN headed ) ( PP ( IN by ) ( NP-LGS ( NP ( NNP Dick ) ( NNP Porter ) ) ( SBAR ( WHNP-2 ( WP who ) ) ( S ( VP ( VBZ returns ) ( PP-DIR ( TO to ) ( NP ( NNP Bozell ) ) ) ( PP-TMP ( IN after ) ( S-NOM ( VP ( VBG being ) ( NP-PRD ( NP ( NN vice ) ( NN president ) ) ( PP ( IN of ) ( NP ( NNS media ) ) ) ) ( PP-LOC ( IN at ) ( NP ( NNP MGM ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

The division will be headed by Dick Porter who returns to Bozell after being vice president of media at MGM


( NP-HLN ( NNP AC&R ) ( NNP ADVERTISING ) )

AC&R ADVERTISING


( S ( NP-SBJ-1 ( NP ( NP ( DT The ) ( NN agency ) ( POS 's ) ) ( CD three ) ( NNP California ) ( NNS offices ) ) ( VP ( ADVP-TMP ( RB previously ) ) ( VBN called ) ( S ( NP-PRD ( NNP AC&R\/CCL ) ( NNP Advertising ) ) ) ) ) ( VP ( MD will ) ( ADVP-TMP ( RB now ) ) ( VP ( VB be ) ( VP ( VBN called ) ( S ( NP-PRD ( NNP AC&R ) ( NNP Advertising ) ) ) ( S-PRP ( VP ( TO to ) ( VP ( VB match ) ( NP ( NP ( DT the ) ( NN name ) ) ( PP ( IN of ) ( NP ( PRP$ its ) ( NNP New ) ( NNP York ) ( NN office ) ) ) ) ) ) ) ) ) ) )

The agency 's three California offices previously called AC&R\/CCL Advertising will now be called AC&R Advertising to match the name of its New York office


( S ( NP-SBJ ( NNP AC&R ) ( NNP Advertising ) ) ( VP ( VBZ is ) ( NP-PRD ( NP ( DT a ) ( NN unit ) ) ( PP ( IN of ) ( NP ( NNP Saatchi ) ( CC & ) ( NNP Saatchi ) ( NNP Co ) ) ) ) ) )

AC&R Advertising is a unit of Saatchi & Saatchi Co


NEW BEER


( S ( NP-SBJ ( NP ( NNP Sibra ) ( NNPS Products ) ( NNP Inc. ) ) ( NP-LOC ( NP ( NNP Greenwich ) ) ( NP ( NNP Conn. ) ) ) ) ( VP ( VBD awarded ) ( NP ( PRP$ its ) ( NNP Cardinal ) ( NNP Amber ) ( NNP Light ) ( NN beer ) ( NN account ) ) ( PP-DTV ( TO to ) ( NP ( NP ( NNP Heidelberg ) ( CC & ) ( NNPS Associates ) ) ( NP-LOC ( NNP New ) ( NNP York ) ) ) ) ) )

Sibra Products Inc. Greenwich Conn. awarded its Cardinal Amber Light beer account to Heidelberg & Associates New York


( S ( NP-SBJ-1 ( NN Budget ) ) ( VP ( VBZ is ) ( VP ( VBN set ) ( PP-CLR ( IN at ) ( NP ( QP ( CD 1.5 ) ( CD million ) ) ) ) ) ) )

Budget is set at 1.5 million


( S ( NP-SBJ-1 ( NP ( DT The ) ( JJ new ) ( NN beer ) ) ( VP ( VBN introduced ) ( NP-TMP ( DT this ) ( NN week ) ) ( PP-LOC ( IN at ) ( NP ( DT a ) ( NN liquor ) ( NN industry ) ( NN convention ) ) ) ) ) ( VP ( VBZ is ) ( VP ( VBN imported ) ( PP-DIR ( IN from ) ( NP ( NP ( NNP Switzerland ) ( POS 's ) ) ( NNP Cardinal ) ( NN brewery ) ) ) ) ) )

The new beer introduced this week at a liquor industry convention is imported from Switzerland 's Cardinal brewery


( S ( NP-SBJ ( NP ( NP ( NNP Heidelberg ) ( POS 's ) ) ( JJ first ) ( NNS ads ) ) ( PP ( IN for ) ( NP ( NP ( DT the ) ( NN brand ) ) ( SBAR ( WHNP-2 ( WDT which ) ) ( S ( NP-SBJ ( NNP Sibra ) ) ( VP ( VBZ says ) ( SBAR ( S ( VP ( MD will ) ( VP ( VB compete ) ( PP-CLR ( IN with ) ( NP ( VBN imported ) ( JJ light ) ( NN beer ) ( NN leader ) ( NNP Amstel ) ( NNP Light ) ) ) ) ) ) ) ) ) ) ) ) ) ( VP ( VBP feature ) ( NP ( NP ( DT the ) ( NN line ) ) ( NP ( NP ( DT The ) ( ADJP ( JJS best ) ( NN tasting ) ) ( JJ light ) ( NN beer ) ) ( SBAR ( S ( NP-SBJ ( PRP you ) ) ( VP ( VBP 've ) ( ADVP-TMP ( RB ever ) ) ( VP ( VBN seen ) ) ) ) ) ) ) ) )

Heidelberg 's first ads for the brand which Sibra says will compete with imported light beer leader Amstel Light feature the line The best tasting light beer you 've ever seen


( S ( NP-SBJ-1 ( NP ( NNP Michael ) ( NNP F. ) ( NNP Klatman ) ) ( NP ( NP ( NN director ) ) ( PP ( IN of ) ( NP ( NP ( JJ corporate ) ( JJ public ) ( NNS relations ) ) ( PP-LOC ( IN at ) ( NP ( NNP Data ) ( NNP General ) ( NNP Corp. ) ) ) ) ) ) ) ( VP ( VBD was ) ( VP ( VBN named ) ( PP-CLR ( TO to ) ( NP ( NP ( DT the ) ( JJ new ) ( NN position ) ) ( PP ( IN of ) ( NP ( NP ( NN vice ) ( NN president ) ) ( NP ( JJ corporate ) ( NNS communications ) ) ( PP ( IN of ) ( NP ( NP ( DT this ) ( NN maker ) ) ( PP ( IN of ) ( NP ( NNS data ) ( NN storage ) ( NN equipment ) ) ) ) ) ) ) ) ) ) ) )

Michael F. Klatman director of corporate public relations at Data General Corp. was named to the new position of vice president corporate communications of this maker of data storage equipment


( S ( NP-SBJ-1 ( DT The ) ( NNP Treasury ) ) ( VP ( NNS plans ) ( S ( VP ( TO to ) ( VP ( VB raise ) ( NP ( NP ( QP ( CD 700 ) ( CD million ) ) ) ( PP ( IN in ) ( NP ( JJ new ) ( NN cash ) ) ) ) ( PP-MNR ( IN with ) ( NP ( NP ( DT the ) ( NN sale ) ) ( NP-TMP ( NNP Tuesday ) ) ( PP ( IN of ) ( NP ( NP ( QP ( IN about ) ( CD 10 ) ( CD billion ) ) ) ( PP ( IN in ) ( NP ( JJ two-year ) ( NNS notes ) ) ) ) ) ( SBAR ( S ( VP ( TO to ) ( VP ( VB redeem ) ( NP ( NP ( QP ( CD 9.29 ) ( CD billion ) ) ) ( PP ( IN in ) ( NP ( VBG maturing ) ( NNS notes ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

The Treasury plans to raise 700 million in new cash with the sale Tuesday of about 10 billion in two-year notes to redeem 9.29 billion in maturing notes


( S ( NP-SBJ-1 ( DT The ) ( NN offering ) ) ( VP ( MD will ) ( VP ( VP ( VB be ) ( VP ( VBN dated ) ( S ( NP-PRD ( NNP Oct. ) ( CD 31 ) ) ) ) ) ( CC and ) ( VP ( VB mature ) ( NP-TMP ( NNP Oct. ) ( CD 31 ) ) ) ) ) )

The offering will be dated Oct. 31 and mature Oct. 31


( S ( NP-SBJ-1 ( NP ( NNS Tenders ) ) ( PP ( IN for ) ( NP ( DT the ) ( NNS notes ) ) ) ( ADJP ( JJ available ) ( PP ( IN in ) ( NP ( ADJP ( QP ( JJ minimum ) ( CD 5,000 ) ) ) ( NNS denominations ) ) ) ) ) ( VP ( MD must ) ( VP ( VB be ) ( VP ( VBN received ) ( PP-TMP ( IN by ) ( NP ( CD 1 ) ( RB p.m. ) ( NNP EDT ) ) ) ( NP-TMP ( NNP Tuesday ) ) ( PP-LOC ( PP ( IN at ) ( NP ( DT the ) ( NNP Treasury ) ) ) ( CC or ) ( PP ( IN at ) ( NP ( NNP Federal ) ( NNP Reserve ) ( NNS banks ) ( CC or ) ( NNS branches ) ) ) ) ) ) ) )

Tenders for the notes available in minimum 5,000 denominations must be received by 1 p.m. EDT Tuesday at the Treasury or at Federal Reserve banks or branches


( S ( NP-SBJ ( NP ( NNP Silicon ) ( NNPS Graphics ) ( NNP Inc. ) ( POS 's ) ) ( NN first-quarter ) ( NN profit ) ) ( VP ( VBD rose ) ( ADVP-MNR ( RB sharply ) ) ( PP-DIR ( TO to ) ( NP ( NP ( QP ( CD 5.2 ) ( CD million ) ) ) ( CC or ) ( NP ( NP ( CD 28 ) ( NNS cents ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ) ( PP-DIR ( IN from ) ( NP ( NP ( QP ( CD 1 ) ( CD million ) ) ) ( CC or ) ( NP ( NP ( CD six ) ( NNS cents ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ( ADVP-TMP ( NP ( DT a ) ( NN year ) ) ( RB ago ) ) ) ) )

Silicon Graphics Inc. 's first-quarter profit rose sharply to 5.2 million or 28 cents a share from 1 million or six cents a share a year ago


( S ( NP-SBJ ( NP ( DT The ) ( NN maker ) ) ( PP ( IN of ) ( NP ( NN computer ) ( NNS workstations ) ) ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( NP ( DT a ) ( NN surge ) ) ( PP ( IN of ) ( NP ( NN government ) ( NNS orders ) ) ) ) ( VP ( VBN contributed ) ( PP-CLR ( TO to ) ( NP ( DT the ) ( NN increase ) ) ) ) ) ) ) )

The maker of computer workstations said a surge of government orders contributed to the increase


( S ( NP-SBJ ( NN Revenue ) ) ( VP ( VBD rose ) ( NP-EXT ( CD 95 ) ( NN % ) ) ( PP-DIR ( TO to ) ( NP ( QP ( CD 86.4 ) ( CD million ) ) ) ) ( PP-DIR ( IN from ) ( NP ( QP ( CD 44.3 ) ( CD million ) ) ) ( NP-TMP ( NP ( DT the ) ( NN year ) ) ( ADJP ( RB earlier ) ) ) ) ) )

Revenue rose 95 % to 86.4 million from 44.3 million the year earlier


( S ( PP-LOC ( IN In ) ( NP ( JJ national ) ( JJ over-the-counter ) ( NN trading ) ) ) ( NP-SBJ ( DT the ) ( NN company ) ) ( VP ( VBD closed ) ( NP-TMP ( NN yesterday ) ) ( PP-CLR ( IN at ) ( NP ( NP ( CD 23.25 ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ( ADVP ( RB down ) ( NP ( CD 25 ) ( NNS cents ) ) ) ) )

In national over-the-counter trading the company closed yesterday at 23.25 a share down 25 cents


( NP-HLN ( NP ( NNP Rep. ) ( NNP Mary ) ( NNP Rose ) ( NNP Oakar ) ) ( PRN ( NP ( NNP D. ) ) ( NP-LOC ( NNP Ohio ) ) ) ( PP-LOC ( IN at ) ( NP ( NP ( NP ( JJ last ) ( NN week ) ( POS 's ) ) ( NNS hearings ) ) ( PP ( IN on ) ( NP ( NP ( NNS irregularities ) ) ( PP-LOC ( IN in ) ( NP ( NNS programs ) ) ) ( PP-LOC ( IN at ) ( NP ( NP ( DT the ) ( NNP Department ) ) ( PP ( IN of ) ( NP ( UCP ( NNP Housing ) ( CC and ) ( NNP Urban ) ) ( NNP Development ) ) ) ) ) ) ) ) ) )

Rep. Mary Rose Oakar D. Ohio at last week 's hearings on irregularities in programs at the Department of Housing and Urban Development


( S ( NP-SBJ-1 ( PRP I ) ) ( VP ( VBP do ) ( RB n't ) ( VP ( VB want ) ( S ( VP ( TO to ) ( VP ( VB feel ) ( ADJP-PRD ( JJ guilty ) ) ( S-ADV ( VP ( VBG representing ) ( NP ( PRP$ my ) ( NNS constituents ) ) ) ) ) ) ) ) ) )

I do n't want to feel guilty representing my constituents


( S ( CC And ) ( SBAR-ADV ( IN if ) ( S ( NP-SBJ ( PRP I ) ) ( VP ( VBP think ) ( SBAR ( IN that ) ( S ( NP-SBJ ( NP ( DT some ) ( NNS people ) ) ( PP ( IN on ) ( NP ( NP ( NNP HUD ) ( NNP Secretary ) ( NNP Jack ) ( NNP Kemp ) ( POS 's ) ) ( NN staff ) ) ) ) ( VP ( VBP are ) ( ADJP-PRD ( RB off ) ( NN base ) ) ( PP ( IN in ) ( NP ( NP ( NNS terms ) ) ( SBAR ( WHPP-1 ( IN in ) ( WHNP ( WDT which ) ) ) ( S ( NP-SBJ ( PRP they ) ) ( VP ( VBP 're ) ( VP ( VBG evaluating ) ( NP ( NP ( JJ certain ) ( NNS things ) ) ( VP ( VBG affecting ) ( NP ( PRP$ my ) ( NN hometown ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ( NP-SBJ-2 ( PRP I ) ) ( VP ( VBP have ) ( S ( VP ( TO to ) ( VP ( VB tell ) ( NP ( PRP you ) ) ( NP ( NP ( NN something ) ) ( S ( NP-SBJ-3 ( PRP I ) ) ( VP ( VBP 'm ) ( RB not ) ( VP ( VBG going ) ( S ( VP ( TO to ) ( VP ( VB take ) ( NP ( PRP it ) ) ) ) ) ) ) ) ) ) ) ) ) )

And if I think that some people on HUD Secretary Jack Kemp 's staff are off base in terms in which they 're evaluating certain things affecting my hometown I have to tell you something I 'm not going to take it


( S ( NP-SBJ ( PRP I ) ) ( VP ( VBP think ) ( SBAR ( IN that ) ( S ( NP-SBJ-2 ( PRP I ) ) ( VP ( VBP 'm ) ( VP ( VBN elected ) ( S-CLR ( VP ( TO to ) ( VP ( VB represent ) ( NP ( NP ( DT the ) ( NNS people ) ) ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( VP ( VBD sent ) ( NP ( PRP me ) ) ( ADVP-DIR ( RB here ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

I think that I 'm elected to represent the people that sent me here


( S ( CC And ) ( NP-SBJ ( NP ( CD one ) ) ( PP ( IN of ) ( NP ( PRP$ our ) ( NNS charges ) ) ) ) ( VP ( VBZ is ) ( S-PRD ( VP ( TO to ) ( VP ( VB be ) ( NP-PRD ( DT an ) ( NN ombudsman ) ) ( PP ( IN for ) ( NP ( PRP$ our ) ( NN area ) ) ) ) ) ) ) )

And one of our charges is to be an ombudsman for our area


( S ( CC And ) ( SBAR-ADV ( IN if ) ( S ( NP-SBJ ( PRP we ) ) ( VP ( VBP 're ) ( RB not ) ( NP-PRD ( NN ombudsman ) ) ( PP ( IN for ) ( NP ( PRP$ our ) ( NN area ) ) ) ) ) ) ( NP-SBJ-2 ( PRP we ) ) ( VP ( MD ought ) ( S ( VP ( TO to ) ( VP ( VB be ) ( VP ( VBN thrown ) ( ADVP-DIR ( IN out ) ( PP ( IN of ) ( NP ( NN office ) ) ) ) ) ) ) ) ) )

And if we 're not ombudsman for our area we ought to be thrown out of office


( S ( PP ( IN On ) ( NP ( DT the ) ( JJ other ) ( NN hand ) ) ) ( SBAR-ADV ( IN if ) ( S ( NP-SBJ ( PRP we ) ) ( VP ( VBP 're ) ( VP ( VBG asking ) ( PP-CLR ( IN for ) ( NP ( NP ( NN something ) ) ( UCP ( ADJP ( JJ unreasonable ) ) ( CC or ) ( ADJP ( JJ unethical ) ) ( CC and ) ( ADVP ( RB so ) ( RB on ) ) ) ) ) ) ) ) ) ( ADVP ( RB then ) ) ( NP-SBJ ( DT that ) ) ( VP ( VBZ 's ) ( NP-PRD ( DT a ) ( ADJP ( JJ whole ) ( JJ different ) ) ( NN story ) ) ) )

On the other hand if we 're asking for something unreasonable or unethical and so on then that 's a whole different story


( S ( CC But ) ( SBAR-ADV ( IN if ) ( S ( S ( NP-SBJ ( PRP I ) ) ( VP ( VBP feel ) ( SBAR ( IN that ) ( S ( NP-SBJ ( EX there ) ) ( VP ( VBP are ) ( NP-PRD ( NP ( NNS situations ) ) ( SBAR ( WHADVP ( WRB where ) ) ( S ( NP-SBJ-1 ( PRP I ) ) ( VP ( VBP 'm ) ( VP ( VBG trying ) ( S ( VP ( TO to ) ( VP ( VB get ) ( NP ( NN housing ) ) ( PP ( IN for ) ( NP ( PRP$ our ) ( NN area ) ) ) ( PRN ( SBAR ( WHNP-2 ( WDT whatever ) ) ( S ( NP-SBJ-3 ( PRP it ) ) ( VP ( VBZ happens ) ( S ( VP ( TO to ) ( VP ( VB be ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ( CC and ) ( S ( NP-SBJ-4 ( PRP I ) ) ( VP ( VBP have ) ( S ( VP ( TO to ) ( VP ( VB feel ) ( SBAR ( IN that ) ( S ( NP-SBJ ( PRP I ) ) ( VP ( MD ca ) ( RB n't ) ( ADVP ( RB even ) ) ( VP ( VB ask ) ( NP ( DT a ) ( NN question ) ) ) ) ) ) ) ) ) ) ) ) ) ( NP-SBJ-5 ( PRP I ) ) ( VP ( VBP 've ) ( VP ( VBD got ) ( S ( VP ( TO to ) ( VP ( VB tell ) ( NP ( PRP you ) ) ( SBAR ( S ( NP-SBJ ( PRP I ) ) ( VP ( VBP think ) ( SBAR ( S ( NP-SBJ ( DT that ) ) ( VP ( VBZ 's ) ( ADJP-PRD ( JJ outrageous ) ) ) ) ) ) ) ) ) ) ) ) ) )

But if I feel that there are situations where I 'm trying to get housing for our area whatever it happens to be and I have to feel that I ca n't even ask a question I 've got to tell you I think that 's outrageous


( S ( NP-SBJ ( PRP I ) ) ( VP ( VBP think ) ( SBAR ( S ( NP-SBJ ( NP ( DT these ) ( NNS regulations ) ) ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( VP ( MD would ) ( VP ( VB prohibit ) ( NP ( JJ well-operated ) ( NNS programs ) ) ( PP-LOC ( IN in ) ( NP ( NP ( NNS areas ) ) ( PP-LOC ( IN across ) ( NP ( DT this ) ( NN country ) ) ) ) ) ) ) ) ) ) ( VP ( MD would ) ( VP ( VB be ) ( ADJP-PRD ( JJ wrong ) ( SBAR ( S ( VP ( TO to ) ( VP ( VB change ) ) ) ) ) ) ) ) ) ) ) )

I think these regulations that would prohibit well-operated programs in areas across this country would be wrong to change


( S ( NP-SBJ-1 ( PRP I ) ) ( VP ( VBP do ) ( RB n't ) ( VP ( VB want ) ( S ( VP ( TO to ) ( VP ( VB see ) ( NP ( NP ( DT some ) ( NNS guidelines ) ( VB change ) ) ( SBAR ( WHNP-2 ( DT that ) ) ( S ( VP ( VBZ 's ) ( VP ( VBG going ) ( S ( VP ( TO to ) ( VP ( VB inhibit ) ( NP ( NP ( PRP$ my ) ( NN city ) ( POS 's ) ) ( NN opportunity ) ( S ( VP ( TO to ) ( VP ( VB use ) ( NP ( PRP$ its ) ( NN money ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

I do n't want to see some guidelines change that 's going to inhibit my city 's opportunity to use its money


( S ( NP-SBJ ( NNP Valley ) ( NNP National ) ( NNP Corp. ) ) ( VP ( VP ( VBD reported ) ( NP ( NP ( DT a ) ( JJ third-quarter ) ( JJ net ) ( NN loss ) ) ( PP ( IN of ) ( NP ( NP ( QP ( CD 72.2 ) ( CD million ) ) ) ( CC or ) ( NP ( NP ( CD 3.65 ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ) ) ) ( CC and ) ( VP ( VBD suspended ) ( NP ( PRP$ its ) ( JJ quarterly ) ( NN dividend ) ) ( PP-PRP ( IN because ) ( IN of ) ( NP ( NP ( JJ potential ) ( NNS losses ) ) ( PP ( IN on ) ( NP ( PRP$ its ) ( NNP Arizona ) ( JJ real ) ( NN estate ) ( NNS holdings ) ) ) ) ) ) ) )

Valley National Corp. reported a third-quarter net loss of 72.2 million or 3.65 a share and suspended its quarterly dividend because of potential losses on its Arizona real estate holdings


( S ( NP-SBJ ( NP ( DT The ) ( JJ Phoenix-based ) ( VBG holding ) ( NN company ) ) ( PP ( IN for ) ( NP ( NP ( NNP Arizona ) ( POS 's ) ) ( JJS largest ) ( NN bank ) ) ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBD added ) ( NP ( QP ( CD 121 ) ( CD million ) ) ) ( PP-CLR ( TO to ) ( NP ( PRP$ its ) ( NN allowance ) ) ) ( PP ( PP ( IN for ) ( NP ( NP ( NNS losses ) ) ( PP ( IN on ) ( NP ( NNS loans ) ) ) ) ) ( CC and ) ( PP ( IN for ) ( NP ( NP ( JJ real ) ( NN estate ) ) ( VP ( VBN owned ) ) ) ) ) ) ) ) ) )

The Phoenix-based holding company for Arizona 's largest bank said it added 121 million to its allowance for losses on loans and for real estate owned


( S ( NP-SBJ ( DT The ) ( NN company ) ) ( VP ( VBN earned ) ( NP ( NP ( QP ( CD 18.7 ) ( CD million ) ) ) ( CC or ) ( NP ( NP ( CD 95 ) ( NNS cents ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ( ADVP-TMP ( NP ( DT a ) ( NN year ) ) ( RB earlier ) ) ) )

The company earned 18.7 million or 95 cents a share a year earlier


( S ( PP ( IN For ) ( NP ( DT the ) ( CD nine ) ( NNS months ) ) ) ( NP-SBJ ( NNP Valley ) ( NNP National ) ) ( VP ( VBD posted ) ( NP ( NP ( DT a ) ( JJ net ) ( NN loss ) ) ( PP ( IN of ) ( NP ( NP ( QP ( CD 136.4 ) ( CD million ) ) ) ( CC or ) ( NP ( NP ( CD 6.90 ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ) ) ) )

For the nine months Valley National posted a net loss of 136.4 million or 6.90 a share


( S ( NP-SBJ ( PRP It ) ) ( VP ( VBD had ) ( NP ( NP ( NN profit ) ) ( PP ( IN of ) ( NP ( NP ( QP ( CD 48.6 ) ( CD million ) ) ) ( CC or ) ( NP ( NP ( CD 2.46 ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ) ) ( PP-TMP ( IN in ) ( NP ( DT the ) ( CD 1988 ) ( NN period ) ) ) ) )

It had profit of 48.6 million or 2.46 a share in the 1988 period


( S ( NP-SBJ-1 ( NNP Valley ) ( NNP National ) ) ( VP ( VBD had ) ( VP ( VBN been ) ( VP ( VBG paying ) ( NP ( NP ( DT a ) ( JJ quarterly ) ( NN dividend ) ) ( PP ( IN of ) ( NP ( NP ( CD 36 ) ( NNS cents ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ) ) ) ) )

Valley National had been paying a quarterly dividend of 36 cents a share


( S ( S-TPC-4 ( S ( NP-SBJ-2 ( DT The ) ( NNP Arizona ) ( JJ real ) ( NN estate ) ( NN market ) ) ( VP ( VBZ continues ) ( S ( VP ( TO to ) ( VP ( VB be ) ( VP ( VBN depressed ) ) ) ) ) ) ) ( CC and ) ( S ( NP-SBJ ( EX there ) ) ( VP ( VBZ is ) ( ADVP-TMP ( RB still ) ) ( NP-PRD ( NN uncertainty ) ) ( PP ( IN as ) ( PP ( TO to ) ( SBAR-NOM ( WHADVP-3 ( WRB when ) ) ( S ( NP-SBJ ( NNS values ) ) ( VP ( MD will ) ( VP ( VB recover ) ) ) ) ) ) ) ) ) ) ( NP-SBJ ( NP ( NNP James ) ( NNP P. ) ( NNP Simmons ) ) ( NP ( NN chairman ) ) ) ( VP ( VBD said ) ) )

The Arizona real estate market continues to be depressed and there is still uncertainty as to when values will recover James P. Simmons chairman said


( S ( S-TPC-1 ( NP-SBJ ( DT The ) ( NN decision ) ( S ( VP ( TO to ) ( VP ( VP ( VB increase ) ( NP ( DT the ) ( NN loan-loss ) ( NN reserve ) ) ) ( CC and ) ( VP ( VB suspend ) ( NP ( DT the ) ( NN dividend ) ) ) ) ) ) ) ( VP ( VBZ is ) ( UCP-PRD ( DT both ) ( ADJP ( JJ prudent ) ) ( CC and ) ( PP ( IN in ) ( NP ( NP ( DT the ) ( JJS best ) ( JJ long-term ) ( NN interest ) ) ( PP ( IN of ) ( NP ( DT the ) ( NNS shareholders ) ) ) ) ) ) ) ) ( NP-SBJ ( PRP he ) ) ( VP ( VBD said ) ) )

The decision to increase the loan-loss reserve and suspend the dividend is both prudent and in the best long-term interest of the shareholders he said


( S ( NP-SBJ ( NNP Valley ) ( NNP National ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ-1 ( PRP it ) ) ( VP ( VBD made ) ( NP ( DT the ) ( NN decision ) ) ( PP ( PP ( IN on ) ( NP ( NP ( DT the ) ( NN basis ) ) ( PP ( IN of ) ( NP ( NP ( NP ( DT an ) ( JJ overall ) ( NN assessment ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( NN marketplace ) ) ( CC and ) ( NP ( NP ( DT the ) ( NN condition ) ) ( PP ( IN of ) ( NP ( PRP$ its ) ( NN loan ) ( NN portfolio ) ) ) ) ) ) ) ) ) ) ) ( CC and ) ( PP-TMP ( IN after ) ( S-NOM ( VP ( VBG reviewing ) ( NP ( PRP it ) ) ( PP ( IN with ) ( NP ( JJ federal ) ( NNS regulators ) ) ) ) ) ) ) ) ) ) ) )

Valley National said it made the decision on the basis of an overall assessment of the marketplace and the condition of its loan portfolio and after reviewing it with federal regulators


( S ( NP-SBJ ( NP ( DT The ) ( NN addition ) ) ( PP ( TO to ) ( NP ( NNS reserves ) ) ) ) ( VP ( VBZ comes ) ( PP ( IN on ) ( NP ( NP ( NN top ) ) ( PP ( IN of ) ( NP ( NP ( DT a ) ( NN provision ) ) ( PP ( IN of ) ( NP ( QP ( CD 199.7 ) ( CD million ) ) ) ) ( SBAR ( WHNP-2 ( DT that ) ) ( S ( VP ( VBD was ) ( VP ( VBN announced ) ( PP-TMP ( IN in ) ( NP ( NNP June ) ) ) ) ) ) ) ) ) ) ) ) )

The addition to reserves comes on top of a provision of 199.7 million that was announced in June


( S ( PP-TMP ( IN In ) ( NP ( NNP July ) ) ) ( NP-SBJ-1 ( NNP Moody ) ( POS 's ) ) ( VP ( VBD downgraded ) ( NP ( NP ( QP ( CD 400 ) ( CD million ) ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( NN company ) ( POS 's ) ) ( NN debt ) ) ) ) ( S-ADV ( VP ( VBG saying ) ( SBAR ( S ( NP-SBJ ( DT the ) ( NN bank ) ( VBG holding ) ( NN company ) ) ( VP ( VBD had ) ( RB n't ) ( VP ( VBN taken ) ( NP ( NP ( JJ adequate ) ( NNS write-offs ) ) ( PP ( IN against ) ( NP ( NP ( JJ potential ) ( NNS losses ) ) ( PP ( IN on ) ( NP ( JJ real ) ( NN estate ) ( NNS loans ) ) ) ) ) ) ( PP ( IN despite ) ( NP ( PRP$ its ) ( JJ second-quarter ) ( NN write-down ) ) ) ) ) ) ) ) ) ) )

In July Moody 's downgraded 400 million of the company 's debt saying the bank holding company had n't taken adequate write-offs against potential losses on real estate loans despite its second-quarter write-down


( S ( NP-SBJ ( NP ( NNP Richard ) ( NNP M. ) ( NNP Greenwood ) ) ( NP ( NP ( NNP Valley ) ( NNP National ) ( POS 's ) ) ( NN executive ) ( NN vice ) ( NN president ) ) ) ( VP ( VBD said ) ( ADVP-TMP ( RB then ) ) ( SBAR ( IN that ) ( S ( NP-SBJ-1 ( DT the ) ( NN company ) ) ( VP ( VP ( VBD believed ) ( SBAR ( S ( NP-SBJ ( DT the ) ( NNS write-downs ) ) ( VP ( VBD were ) ( ADJP-PRD ( JJ adequate ) ) ) ) ) ) ( CC and ) ( VP ( VBD did ) ( RB n't ) ( VP ( NN plan ) ( S ( VP ( TO to ) ( VP ( VB increase ) ( NP ( PRP$ its ) ( NNS reserves ) ) ( ADVP-TMP ( RB again ) ) ) ) ) ) ) ) ) ) ) )

Richard M. Greenwood Valley National 's executive vice president said then that the company believed the write-downs were adequate and did n't plan to increase its reserves again


( S ( NP-SBJ ( NP ( NNP Bruce ) ( NNP Hoyt ) ) ( NP ( NP ( NP ( DT a ) ( NN banking ) ( NN analyst ) ) ( PP ( IN with ) ( NP ( NP ( NNP Boettcher ) ( CC & ) ( NNP Co. ) ) ( NP ( DT a ) ( NNP Denver ) ( NN brokerage ) ( NN firm ) ) ) ) ) ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( NNP Valley ) ( NNP National ) ) ( VP ( VBZ is ) ( RB n't ) ( PP-PRD ( IN out ) ( PP ( IN of ) ( NP ( DT the ) ( NNS woods ) ) ) ) ( ADVP-TMP ( RB yet ) ) ) ) ) ) )

Bruce Hoyt a banking analyst with Boettcher & Co. a Denver brokerage firm said Valley National is n't out of the woods yet


( S ( S-TPC-1 ( NP-SBJ ( DT The ) ( NN key ) ) ( VP ( MD will ) ( VP ( VB be ) ( SBAR-PRD ( IN whether ) ( S ( NP-SBJ ( NNP Arizona ) ( JJ real ) ( NN estate ) ) ( VP ( VP ( VBZ turns ) ( ADVP-CLR ( RB around ) ) ) ( CC or ) ( VP ( ADVP ( IN at ) ( JJS least ) ) ( VBZ stabilizes ) ) ) ) ) ) ) ) ( NP-SBJ ( PRP he ) ) ( VP ( VBD said ) ) )

The key will be whether Arizona real estate turns around or at least stabilizes he said


( S ( S-TPC-1 ( S ( NP-SBJ-2 ( PRP They ) ) ( VP ( VBP 've ) ( VP ( VBD stepped ) ( ADVP-DIR ( RB up ) ( PP ( TO to ) ( NP ( DT the ) ( NN plate ) ) ) ) ( S-PRP ( VP ( TO to ) ( VP ( VB take ) ( NP ( DT the ) ( NNS write-downs ) ) ) ) ) ) ) ) ( CC but ) ( S ( SBAR-TMP ( WHADVP-3 ( WRB when ) ) ( S ( NP-SBJ ( NNS markets ) ) ( VP ( VBP head ) ( ADVP-DIR ( RB down ) ) ) ) ) ( NP-SBJ-4 ( DT a ) ( NN company ) ) ( VP ( VBZ is ) ( ADVP-TMP ( RB always ) ) ( VP ( VBN exposed ) ( PP-CLR ( TO to ) ( NP ( VB further ) ( JJ negative ) ( NNS surprises ) ) ) ) ) ) ) ( NP-SBJ ( NNP Mr. ) ( NNP Hoyt ) ) ( VP ( VBD said ) ) )

They 've stepped up to the plate to take the write-downs but when markets head down a company is always exposed to further negative surprises Mr. Hoyt said


( S ( NP-SBJ ( NNP Valley ) ( NNP National ) ) ( VP ( VBD closed ) ( NP-TMP ( NN yesterday ) ) ( PP-CLR ( IN at ) ( NP ( NP ( CD 24.25 ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ( ADVP ( RB down ) ( NP ( CD 1 ) ) ) ( PP-LOC ( IN in ) ( NP ( JJ national ) ( JJ over-the-counter ) ( NN trading ) ) ) ) )

Valley National closed yesterday at 24.25 a share down 1 in national over-the-counter trading


( S ( NP-SBJ ( NNP PRINCE ) ( NNP HENRI ) ) ( VP ( VBZ is ) ( NP-PRD ( NP ( DT the ) ( NX ( NX ( NN crown ) ( NN prince ) ) ( CC and ) ( NX ( JJ hereditary ) ( JJ grand ) ( NN duke ) ) ) ) ( PP ( IN of ) ( NP ( NNP Luxembourg ) ) ) ) ) )

PRINCE HENRI is the crown prince and hereditary grand duke of Luxembourg


( S ( NP-SBJ ( NP ( DT An ) ( NN article ) ) ( PP-LOC ( IN in ) ( NP ( NP ( DT the ) ( NNP World ) ( NNP Business ) ( NNP Report ) ) ( PP-TMP ( IN of ) ( NP ( NNP Sept. ) ( CD 22 ) ( NNS editions ) ) ) ) ) ) ( VP ( ADVP-MNR ( RB incorrectly ) ) ( VBD referred ) ( PP-CLR ( TO to ) ( NP ( NP ( PRP$ his ) ( NN father ) ) ( NP ( NNP Grand ) ( NNP Duke ) ( NNP Jean ) ) ) ) ( PP-CLR ( IN as ) ( NP ( DT the ) ( NN crown ) ( NN prince ) ) ) ) )

An article in the World Business Report of Sept. 22 editions incorrectly referred to his father Grand Duke Jean as the crown prince


( S ( NP-SBJ ( NP ( NNP Friday ) ( POS 's ) ) ( NN stock ) ( NN market ) ( NN plunge ) ) ( VP ( VBD claimed ) ( NP ( NP ( PRP$ its ) ( JJ second ) ( NN victim ) ) ( PP-LOC ( IN among ) ( NP ( NP ( DT the ) ( NNS scores ) ) ( PP ( IN of ) ( NP ( NP ( NNS futures ) ( CC and ) ( NNS options ) ( NN trading ) ( NNS firms ) ) ( ADVP-LOC ( RB here ) ) ) ) ) ) ) ) )

Friday 's stock market plunge claimed its second victim among the scores of futures and options trading firms here


( S ( S-TPC-2 ( NP-SBJ-1 ( NP ( NNP Petco ) ( NNPS Options ) ) ( NP ( NP ( DT an ) ( NNS options ) ( NN trading ) ( NN firm ) ) ( VP ( VBN owned ) ( PP ( IN by ) ( NP-LGS ( NP ( DT the ) ( NN family ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( JJ deceased ) ( JJ former ) ( NAC ( NNP Chicago ) ( NNP Board ) ( PP ( IN of ) ( NP ( NNP Trade ) ) ) ) ( NN chairman ) ) ( NP ( NNP Ralph ) ( NNP Peters ) ) ) ) ) ) ) ) ) ( VP ( VBZ is ) ( VP ( VBG getting ) ( ADVP-DIR ( IN out ) ( PP ( IN of ) ( NP ( DT the ) ( NX ( NN trade ) ( NN clearing ) ) ( PRN ( CC or ) ( NX ( NN processing ) ( CC and ) ( NN guaranteeing ) ) ) ( NX-3 ( NN business ) ) ) ) ) ( PP-TMP ( IN after ) ( S-NOM ( VP ( VBG sustaining ) ( NP ( DT a ) ( ADJP ( JJ multimillion ) ( NN dollar ) ) ( NN loss ) ) ( NP-TMP ( NNP Friday ) ) ) ) ) ) ) ) ( NP-SBJ ( NNS options ) ( NN industry ) ( NNS officials ) ) ( VP ( VBD said ) ) )

Petco Options an options trading firm owned by the family of the deceased former Chicago Board of Trade chairman Ralph Peters is getting out of the trade clearing or processing and guaranteeing business after sustaining a multimillion dollar loss Friday options industry officials said


( S ( S-TPC-4 ( NP-SBJ-3 ( NP ( QP ( RB Nearly ) ( CD 75 ) ) ( NNS options ) ( NNS traders ) ) ( PP-LOC ( IN on ) ( NP ( DT the ) ( NNP Chicago ) ( NNP Board ) ( NNPS Options ) ( NNP Exchange ) ) ) ( SBAR ( WHNP-1 ( WP who ) ) ( S ( VP ( VBD cleared ) ( NP ( NNS trades ) ) ( PP ( IN through ) ( NP ( NNP Petco ) ) ) ) ) ) ( PP ( VBG including ) ( NP ( NP ( DT a ) ( NN handful ) ) ( PP ( IN of ) ( NP ( NNS traders ) ) ) ( SBAR ( WHNP-2 ( WP who ) ) ( S ( VP ( VBD lost ) ( NP ( QP ( IN between ) ( CD 500,000 ) ( TO to ) ( CD 1 ) ( CD million ) ) ) ( ADVP ( PRP themselves ) ) ( PP-PRP ( IN as ) ( NP ( NP ( DT a ) ( NN result ) ) ( PP ( IN of ) ( NP ( NP ( NNP Friday ) ( POS 's ) ) ( NN debacle ) ) ) ) ) ) ) ) ) ) ) ( VP ( VBP are ) ( VP ( VBG trying ) ( S ( VP ( TO to ) ( VP ( VB transfer ) ( NP ( PRP$ their ) ( NN business ) ) ( PP-CLR ( TO to ) ( NP ( JJ other ) ( NN clearing ) ( NNS firms ) ) ) ) ) ) ) ) ) ( NP-SBJ ( NNP CBOE ) ( NNS members ) ) ( VP ( VBD said ) ) )

Nearly 75 options traders on the Chicago Board Options Exchange who cleared trades through Petco including a handful of traders who lost between 500,000 to 1 million themselves as a result of Friday 's debacle are trying to transfer their business to other clearing firms CBOE members said


( S ( NP-SBJ ( NP ( NNP Timothy ) ( NNP Vincent ) ) ( NP ( NNP Petco ) ( JJ chief ) ( NN executive ) ( NN officer ) ) ) ( VP ( VBD confirmed ) ( SBAR ( IN that ) ( S ( NP-SBJ ( NNP Petco ) ) ( VP ( VBD was ) ( VP ( VBG withdrawing ) ( PP-DIR ( IN from ) ( NP ( DT the ) ( NN clearing ) ( NN business ) ) ) ) ) ) ) ) )

Timothy Vincent Petco chief executive officer confirmed that Petco was withdrawing from the clearing business


( S ( S-TPC-3 ( S ( NP-SBJ ( NP ( DT The ) ( NNS owners ) ) ( PP ( IN of ) ( NP ( DT the ) ( NN company ) ) ) ) ( VP ( VBD got ) ( NP ( NP ( DT a ) ( NN look ) ) ( PP ( IN at ) ( NP ( NP ( DT the ) ( JJ potential ) ( NNS risks ) ) ( PP-LOC ( IN in ) ( NP ( DT this ) ( NN business ) ) ) ) ) ) ) ) ( CC and ) ( S ( PP-TMP ( IN after ) ( NP ( NNP Monday ) ) ) ( NP-SBJ ( PRP they ) ) ( VP ( VBD felt ) ( SBAR ( S ( NP-SBJ-2 ( PRP they ) ) ( VP ( VBD did ) ( RB n't ) ( VP ( VB want ) ( S ( VP ( TO to ) ( VP ( VB be ) ( VP ( VBN exposed ) ( ADVP ( DT any ) ( JJR more ) ) ) ) ) ) ) ) ) ) ) ) ) ( NP-SBJ ( PRP he ) ) ( VP ( VBD said ) ) )

The owners of the company got a look at the potential risks in this business and after Monday they felt they did n't want to be exposed any more he said


( S ( NP-SBJ ( PRP He ) ) ( VP ( VBD added ) ( SBAR ( IN that ) ( S ( NP-SBJ ( NNP Petco ) ) ( VP ( VBD remained ) ( PP-PRD ( IN in ) ( NP ( NP ( NN compliance ) ) ( PP ( IN with ) ( NP ( DT all ) ( NN industry ) ( NN capital ) ( NNS requirements ) ) ) ) ) ( PP-TMP ( IN during ) ( NP ( NP ( NP ( NP ( DT the ) ( NN market ) ( POS 's ) ) ( JJ rapid ) ( NN plunge ) ) ( NP-TMP ( NNP Friday ) ) ) ( CC and ) ( NP ( NP ( NNP Monday ) ( POS 's ) ) ( NN rebound ) ) ) ) ) ) ) ) )

He added that Petco remained in compliance with all industry capital requirements during the market 's rapid plunge Friday and Monday 's rebound


( S ( NP-SBJ ( DT A ) ( NNP CBOE ) ( NN spokeswoman ) ) ( VP ( VBD declined ) ( NP ( NN comment ) ) ( PP ( IN on ) ( NP ( NNP Petco ) ) ) ) )

A CBOE spokeswoman declined comment on Petco


( S ( PP-TMP ( IN Over ) ( NP ( DT the ) ( NN weekend ) ) ) ( NP-SBJ ( NP ( NNP Fossett ) ( NNP Corp. ) ) ( NP ( DT another ) ( NNS options ) ( NN trading ) ( NN firm ) ) ) ( VP ( VBD transferred ) ( NP ( NP ( DT the ) ( NN clearing ) ( NNS accounts ) ) ( PP ( IN of ) ( NP ( QP ( IN about ) ( CD 160 ) ) ( NNS traders ) ) ) ) ( PP-DIR ( TO to ) ( NP ( NP ( NP ( NNP First ) ( NNPS Options ) ) ( PP ( IN of ) ( NP ( NNP Chicago ) ) ) ) ( NP ( NP ( DT a ) ( NN unit ) ) ( PP ( IN of ) ( NP ( NNP Continental ) ( NNP Bank ) ( NNP Corp. ) ) ) ) ) ) ( SBAR-PRP ( IN because ) ( S ( NP-SBJ ( PRP it ) ) ( VP ( MD could ) ( RB n't ) ( VP ( VB meet ) ( NP ( JJ regulatory ) ( NN capital ) ( NNS requirements ) ) ( PP-TMP ( IN after ) ( NP ( NP ( NNP Friday ) ( POS 's ) ) ( NN market ) ( NN slide ) ) ) ) ) ) ) ) )

Over the weekend Fossett Corp. another options trading firm transferred the clearing accounts of about 160 traders to First Options of Chicago a unit of Continental Bank Corp. because it could n't meet regulatory capital requirements after Friday 's market slide


( S ( NP-SBJ ( NP ( DT The ) ( JJ unprecedented ) ( NN transfer ) ) ( PP ( IN of ) ( NP ( NNS accounts ) ) ) ) ( VP ( VBD underscored ) ( NP ( NP ( DT the ) ( NNS options ) ( NN industry ) ( POS 's ) ) ( NN desire ) ( S ( RB not ) ( VP ( TO to ) ( VP ( VB have ) ( S ( NP-SBJ-1 ( PRP$ its ) ( NN credibility ) ) ( VP ( VBN tarnished ) ( PP ( IN by ) ( NP-LGS ( ADJP ( RB potentially ) ( JJ widespread ) ) ( NN trading ) ( NNS defaults ) ) ) ( PP-TMP ( IN on ) ( NP ( NNP Monday ) ) ) ) ) ) ) ) ) ) )

The unprecedented transfer of accounts underscored the options industry 's desire not to have its credibility tarnished by potentially widespread trading defaults on Monday


( S ( NP-SBJ-1 ( NP ( DT The ) ( NNP CBOE ) ) ( NP ( NNP American ) ( NNP Stock ) ( NNP Exchange ) ) ( NP ( NNPS Options ) ( NNP Clearing ) ( NNP Corp. ) ) ( CC and ) ( NP ( NP ( NNP Stephen ) ( NNP Fossett ) ) ( NP ( NP ( NN owner ) ) ( PP ( IN of ) ( NP ( NNP Fossett ) ) ) ) ) ) ( VP ( VBN joined ) ( PP ( IN in ) ( S-NOM ( VP ( VBG putting ) ( PRT ( RP up ) ) ( NP ( QP ( CD 50 ) ( CD million ) ) ) ( S-PRP ( VP ( TO to ) ( VP ( VB guarantee ) ( NP ( NP ( DT the ) ( NNS accounts ) ) ( PP-LOC ( IN at ) ( NP ( NNP First ) ( NNPS Options ) ) ) ) ) ) ) ) ) ) ) )

The CBOE American Stock Exchange Options Clearing Corp. and Stephen Fossett owner of Fossett joined in putting up 50 million to guarantee the accounts at First Options


( S ( NP-SBJ ( NP ( DT The ) ( NN head ) ) ( PP ( IN of ) ( NP ( DT another ) ( JJ small ) ( NNS options ) ( NN clearing ) ( NN firm ) ) ) ( SBAR ( WHNP-2 ( WP who ) ) ( S ( VP ( VBD asked ) ( S ( RB not ) ( VP ( TO to ) ( VP ( VB be ) ( VP ( VBN identified ) ) ) ) ) ) ) ) ) ( VP ( VBD said ) ( SBAR ( IN that ) ( S ( NP-SBJ ( NP ( DT the ) ( JJ heightened ) ( NN volatility ) ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( JJ financial ) ( NNS markets ) ) ) ( PP-TMP ( IN in ) ( NP ( JJ recent ) ( NNS years ) ) ) ) ( VP ( VBZ makes ) ( S ( NP-SBJ ( NP ( PRP it ) ) ) ( ADJP-PRD ( RB increasingly ) ( JJ difficult ) ) ( SBAR-4 ( IN for ) ( S ( NP-SBJ ( NP ( DT any ) ) ( PP ( IN but ) ( NP ( DT the ) ( JJS largest ) ( JJ financial ) ( NN trading ) ( NNS firms ) ) ) ) ( VP ( TO to ) ( VP ( VB shoulder ) ( NP ( NP ( DT the ) ( NN risk ) ) ( ADJP ( JJ inherent ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( ADJP ( RB highly ) ( JJ leveraged ) ) ( NNS options ) ( CC and ) ( NNS futures ) ( NN business ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

The head of another small options clearing firm who asked not to be identified said that the heightened volatility in the financial markets in recent years makes it increasingly difficult for any but the largest financial trading firms to shoulder the risk inherent in the highly leveraged options and futures business


( S ( PP-TMP ( RB Prior ) ( TO to ) ( NP ( NP ( DT the ) ( NN introduction ) ) ( PP ( IN of ) ( NP ( JJ financial ) ( NNS futures ) ) ) ( PP-TMP ( IN in ) ( NP ( DT the ) ( JJ late ) ( NNS 1970s ) ) ) ) ) ( NP-SBJ ( NP ( JJS most ) ( NN trading ) ( NNS firms ) ) ( VP ( VBN clustered ) ( PP-LOC-CLR ( IN around ) ( NP ( NP ( DT the ) ( NNP LaSalle ) ( NNP Street ) ( JJ financial ) ( NN district ) ) ( ADVP-LOC ( RB here ) ) ) ) ) ) ( VP ( VBD were ) ( NP-PRD ( NP ( NN family ) ( NNS operations ) ) ( VP ( VBD handed ) ( ADVP-DIR ( RB down ) ) ( PP-DIR ( IN from ) ( NP ( CD one ) ( NN generation ) ) ) ( PP-DIR ( TO to ) ( NP ( DT the ) ( JJ next ) ) ) ) ) ) )

Prior to the introduction of financial futures in the late 1970s most trading firms clustered around the LaSalle Street financial district here were family operations handed down from one generation to the next


( S ( NP-SBJ ( JJS Most ) ) ( ADVP ( RB also ) ) ( VP ( VBD were ) ( ADJP-PRD ( RB relatively ) ( JJ undercapitalized ) ) ( PP ( VBN compared ) ( PP ( IN with ) ( NP ( NP ( DT the ) ( NN size ) ) ( PP ( IN of ) ( NP ( JJS most ) ( NNP Wall ) ( NNP Street ) ( NNS securities ) ( NNS firms ) ) ) ) ) ) ) )

Most also were relatively undercapitalized compared with the size of most Wall Street securities firms


( S ( NP-SBJ-1 ( NP ( NNP Mr. ) ( NNP Peters ) ) ( NP ( NP ( DT a ) ( NNP LaSalle ) ( NNP Street ) ( NN legend ) ) ( PP-LOC ( IN among ) ( NP ( NP ( DT the ) ( ADJP ( JJ post-World ) ( NNP War ) ( NNP II ) ) ( NN generation ) ) ( PP ( IN of ) ( NP ( NN commodity ) ( NNS traders ) ) ) ) ) ) ) ( VP ( VBD was ) ( VP ( VBN rumored ) ( S ( VP ( TO to ) ( VP ( VB have ) ( VP ( VBN amassed ) ( NP ( DT a ) ( JJ multimillion-dollar ) ( NN fortune ) ) ( PP-CLR ( IN from ) ( NP ( NP ( NN commodity ) ( NN trading ) ) ( CC and ) ( NP ( JJ other ) ( NNS activities ) ) ) ) ( PP-TMP ( IN by ) ( NP ( NP ( DT the ) ( NN time ) ) ( SBAR ( S ( NP-SBJ ( PRP he ) ) ( VP ( VBD died ) ( PP-TMP ( IN in ) ( NP ( NNP May ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Mr. Peters a LaSalle Street legend among the post-World War II generation of commodity traders was rumored to have amassed a multimillion-dollar fortune from commodity trading and other activities by the time he died in May


( S ( NP-SBJ-1 ( NP ( NNP Gen. ) ( NNP Paul ) ( NNP X. ) ( NNP Kelley ) ) ( NP ( NP ( JJ retired ) ( NN commandant ) ) ( PP ( IN of ) ( NP ( DT the ) ( NNP U.S. ) ( NNP Marine ) ( NNP Corps ) ) ) ) ) ( VP ( VBD was ) ( VP ( VBN elected ) ( S ( NP-PRD ( NP ( DT a ) ( NN director ) ) ( PP ( IN of ) ( NP ( DT this ) ( NNS plastics ) ( NN specialty ) ( NNS materials ) ( CC and ) ( NN aerospace ) ( NN concern ) ) ) ) ) ( S-ADV ( VP ( VBG succeeding ) ( NP ( NP ( NNP Jewel ) ( NNP Lafontant ) ) ( SBAR ( WHNP-2 ( WP who ) ) ( S ( VP ( VBD resigned ) ( S-PRP ( VP ( TO to ) ( VP ( VB accept ) ( NP ( DT a ) ( NN government ) ( NN position ) ) ) ) ) ) ) ) ) ) ) ) ) )

Gen. Paul X. Kelley retired commandant of the U.S. Marine Corps was elected a director of this plastics specialty materials and aerospace concern succeeding Jewel Lafontant who resigned to accept a government position


( S ( NP-SBJ-1 ( NNP Resolution ) ( NNP Funding ) ( NNP Corp. ) ) ( VP ( VBZ plans ) ( S ( VP ( TO to ) ( VP ( VB sell ) ( NP ( NP ( QP ( CD 4.5 ) ( CD billion ) ) ) ( PP ( IN of ) ( NP ( JJ 30-year ) ( NNS bonds ) ) ) ) ( NP-TMP ( NNP Wednesday ) ) ( PP-LOC ( IN in ) ( NP ( NP ( NP ( DT the ) ( NN agency ) ( POS 's ) ) ( JJ first ) ( NN sale ) ) ( PP ( IN of ) ( NP ( NNS securities ) ) ) ) ) ) ) ) ) )

Resolution Funding Corp. plans to sell 4.5 billion of 30-year bonds Wednesday in the agency 's first sale of securities


( S ( NP-SBJ-1 ( DT The ) ( JJ new ) ( NNS bonds ) ) ( VP ( MD will ) ( VP ( VP ( VB be ) ( VP ( VBN dated ) ( S ( NP-PRD ( NNP Oct. ) ( CD 30 ) ) ) ) ) ( CC and ) ( VP ( VB mature ) ( NP-TMP ( NNP Oct. ) ( CD 15 ) ( CD 2019 ) ) ) ) ) )

The new bonds will be dated Oct. 30 and mature Oct. 15 2019


( S ( NP-SBJ-1 ( NP ( NNS Tenders ) ) ( PP ( IN for ) ( NP ( DT the ) ( NNS bonds ) ) ) ( ADJP ( JJ available ) ( PP ( IN in ) ( NP ( NP ( JJ minimum ) ( NNS denominations ) ) ( PP ( IN of ) ( NP ( CD 1,000 ) ) ) ) ) ) ) ( VP ( MD must ) ( VP ( VB be ) ( VP ( VBN received ) ( PP-TMP ( IN by ) ( NP ( CD 1 ) ( RB p.m. ) ( NNP EDT ) ) ) ( NP-TMP ( NNP Wednesday ) ) ( PP-LOC ( IN at ) ( NP ( NNP Federal ) ( NNP Reserve ) ( NNS banks ) ) ) ) ) ) )

Tenders for the bonds available in minimum denominations of 1,000 must be received by 1 p.m. EDT Wednesday at Federal Reserve banks


( S ( NP-SBJ ( NP ( NNP Refcorp ) ) ( VP ( VBN created ) ( PP ( IN by ) ( NP-LGS ( NP ( DT the ) ( NN thrift-overhaul ) ( NN law ) ) ( VP ( VBN enacted ) ( PP-TMP ( IN in ) ( NP ( NNP August ) ) ) ) ) ) ) ) ( VP ( MD will ) ( VP ( VB use ) ( NP ( DT the ) ( NNS proceeds ) ) ( S-CLR ( VP ( TO to ) ( VP ( VP ( VB merge ) ) ( CC or ) ( VP ( VB sell ) ( PRT ( RP off ) ) ) ( NP-1 ( JJ ailing ) ( NN savings-and-loan ) ( NNS institutions ) ) ) ) ) ) ) )

Refcorp created by the thrift-overhaul law enacted in August will use the proceeds to merge or sell off ailing savings-and-loan institutions


( S ( NP-SBJ ( NNP Congress ) ) ( VP ( VBD authorized ) ( NP ( NP ( QP ( CD 50 ) ( CD billion ) ) ) ( SBAR ( S ( VP ( TO to ) ( VP ( VB be ) ( VP ( VBN borrowed ) ) ) ) ) ) ) ( S-PRP-3 ( VP ( TO to ) ( VP ( VB pay ) ( PP-CLR ( IN for ) ( NP ( DT the ) ( NN thrift ) ( NN bailout ) ) ) ) ) ) ) )

Congress authorized 50 billion to be borrowed to pay for the thrift bailout


( S ( PP-TPC-2 ( IN Of ) ( NP ( DT that ) ( NN amount ) ) ) ( NP-SBJ-1 ( NP ( QP ( CD 20 ) ( CD billion ) ) ) ) ( VP ( VBZ has ) ( ADVP-TMP ( RB already ) ) ( VP ( VBN been ) ( VP ( VBN borrowed ) ( PP ( IN by ) ( NP-LGS ( DT the ) ( NNP Treasury ) ( NNP Department ) ) ) ) ) ) )

Of that amount 20 billion has already been borrowed by the Treasury Department


( S ( SBAR-ADV ( IN Unless ) ( S ( VP ( ADVP ( RB otherwise ) ) ( VBN specified ) ( PP-LOC ( IN in ) ( NP ( DT a ) ( JJ particular ) ( NN offer ) ) ) ) ) ) ( NP-SBJ ( DT the ) ( NNS bonds ) ) ( VP ( MD wo ) ( RB n't ) ( VP ( VB be ) ( ADJP-PRD ( JJ subject ) ( PP ( TO to ) ( NP ( NN redemption ) ) ) ) ( ADVP-TMP ( RB prior ) ( PP ( TO to ) ( NP ( NN maturity ) ) ) ) ) ) )

Unless otherwise specified in a particular offer the bonds wo n't be subject to redemption prior to maturity


( S ( NP-SBJ ( NP ( NN Interest ) ( NNS payments ) ) ( PP-LOC ( IN on ) ( NP ( DT the ) ( NNS bonds ) ) ) ) ( VP ( MD will ) ( VP ( VB be ) ( ADJP-PRD ( JJ payable ) ) ( ADVP-TMP ( RB semiannually ) ) ) ) )

Interest payments on the bonds will be payable semiannually


( S ( NP-SBJ ( DT The ) ( NNS bonds ) ) ( VP ( VBP are ) ( ADJP-PRD ( JJ subject ) ( PP ( TO to ) ( NP ( NP ( JJ federal ) ( NN taxation ) ) ) ) ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( NNP U.S. ) ) ) ( PP-1 ( VBG including ) ( NP ( NN income ) ( NNS taxes ) ) ) ) )

The bonds are subject to federal taxation in the U.S. including income taxes


( S ( PP-LOC ( IN At ) ( NP ( DT the ) ( UCP ( NN state ) ( CC and ) ( JJ local ) ) ( NN level ) ) ) ( NP-SBJ ( DT the ) ( NNS bonds ) ) ( VP ( VBP are ) ( ADJP-PRD ( ADJP ( JJ subject ) ( PP ( TO to ) ( NP ( NP ( NNS surtaxes ) ) ( CC and ) ( NP ( NN estate ) ( NN inheritance ) ( CC and ) ( NN gift ) ( NNS taxes ) ) ) ) ) ( CC but ) ( ADJP ( JJ exempt ) ( PP ( IN from ) ( NP ( NP ( NN taxation ) ) ( PP ( IN as ) ( PP ( TO to ) ( NP ( NN principal ) ( CC and ) ( NN interest ) ) ) ) ) ) ) ) ) )

At the state and local level the bonds are subject to surtaxes and estate inheritance and gift taxes but exempt from taxation as to principal and interest


( S ( NP-SBJ ( NNP Michelle ) ( NNP Pfeiffer ) ) ( VP ( MD ca ) ( RB n't ) ( VP ( VP ( VB chew ) ( NP ( NN gum ) ) ) ( CC and ) ( VP ( VB sing ) ) ( PP-TMP ( IN at ) ( NP ( DT the ) ( JJ same ) ( NN time ) ) ) ) ) )

Michelle Pfeiffer ca n't chew gum and sing at the same time


( S ( CC But ) ( PP ( IN on ) ( NP ( NP ( DT the ) ( NN evidence ) ) ( PP ( IN of ) ( NP-TTL ( DT The ) ( NNP Fabulous ) ( NNP Baker ) ( NNPS Boys ) ) ) ) ) ( NP-SBJ ( WDT that ) ) ( VP ( MD may ) ( VP ( VB be ) ( NP-PRD ( NP ( DT the ) ( JJ only ) ( NN thing ) ) ( SBAR ( S ( NP-SBJ ( PRP she ) ) ( VP ( MD ca ) ( RB n't ) ( VP ( VB do ) ) ) ) ) ) ( SBAR-TMP ( ADVP ( IN at ) ( JJS least ) ) ( WHADVP-2 ( WRB when ) ) ( S ( NP-SBJ ( PRP she ) ) ( VP ( VBZ 's ) ( VP ( VBG acting ) ( PP-LOC ( IN in ) ( NP ( NNS movies ) ) ) ) ) ) ) ) ) )

But on the evidence of The Fabulous Baker Boys that may be the only thing she ca n't do at least when she 's acting in movies


( S ( PP ( IN As ) ( NP ( NP ( DT the ) ( JJ tough ) ( JJ slinky ) ( NN lounge ) ( NN chanteuse ) ) ( PP-LOC ( IN in ) ( NP-TTL ( DT The ) ( NNP Fabulous ) ( NNP Baker ) ( NNPS Boys ) ) ) ) ) ( NP-SBJ ( NNP Ms. ) ( NNP Pfeiffer ) ) ( VP ( VBZ sings ) ( UCP ( PP-CLR ( IN for ) ( NP ( PRP herself ) ) ) ( CC and ) ( ADVP-MNR ( RBR more ) ( IN than ) ( RB passably ) ( RB well ) ) ) ) )

As the tough slinky lounge chanteuse in The Fabulous Baker Boys Ms. Pfeiffer sings for herself and more than passably well


( S ( NP-SBJ ( PRP$ Her ) ( NNP Susie ) ( NNP Diamond ) ) ( VP ( VBZ handles ) ( NP ( DT a ) ( NN song ) ) ( NP-MNR ( NP ( DT the ) ( NN way ) ) ( SBAR ( S ( NP-SBJ ( DT the ) ( NNS greats ) ) ( VP ( VBP do ) ) ) ) ( SBAR ( IN like ) ( S ( S ( NP-SBJ ( PRP she ) ) ( VP ( VBZ 's ) ( VP ( VBG hearing ) ( NP ( NP ( DT the ) ( NN way ) ) ( SBAR ( S ( NP-SBJ ( PRP it ) ) ( VP ( MD should ) ( VP ( VB sound ) ) ) ) ) ) ( PP-LOC ( IN inside ) ( NP ( PRP$ her ) ( NN head ) ) ) ) ) ) ( CC and ) ( S ( NP-SBJ-2 ( PRP she ) ) ( VP ( VBZ 's ) ( VP ( VBG concentrating ) ( PP-CLR ( IN on ) ( S-NOM ( VP ( VBG matching ) ( NP ( DT that ) ( JJ internal ) ( NN tone ) ) ) ) ) ) ) ) ) ) ) ) )

Her Susie Diamond handles a song the way the greats do like she 's hearing the way it should sound inside her head and she 's concentrating on matching that internal tone


( S ( RB Yet ) ( NP-SBJ ( PRP$ her ) ( NN intensity ) ) ( VP ( VBZ stops ) ( CC and ) ( VBZ starts ) ( PP ( IN with ) ( NP ( DT the ) ( NN music ) ) ) ) )

Yet her intensity stops and starts with the music


( S ( SBAR-TMP ( WHADVP-1 ( WRB When ) ) ( S ( NP-SBJ ( PRP she ) ) ( VP ( VBZ is ) ( RB n't ) ( VP ( VBG performing ) ( PP ( IN for ) ( NP ( DT an ) ( NN audience ) ) ) ) ) ) ) ( NP-SBJ-2 ( PRP she ) ) ( VP ( VP ( VBZ prepares ) ( PP-CLR ( IN for ) ( NP ( DT a ) ( NN song ) ) ) ( PP-MNR ( IN by ) ( S-NOM ( VP ( VBG removing ) ( NP ( NP ( DT the ) ( NN wad ) ) ( PP ( IN of ) ( NP ( NN gum ) ) ) ) ( PP-DIR ( IN from ) ( NP ( PRP$ her ) ( NN mouth ) ) ) ) ) ) ) ( CC and ) ( VP ( VBZ indicates ) ( SBAR ( IN that ) ( S ( NP-SBJ ( PRP she ) ) ( VP ( VBZ 's ) ( VP ( VBN finished ) ) ) ) ) ( PP-MNR ( IN by ) ( S-NOM ( VP ( VBG sticking ) ( NP ( DT the ) ( NN gum ) ) ( ADVP-DIR ( RB back ) ) ( PP-DIR ( IN in ) ) ) ) ) ) ) )

When she is n't performing for an audience she prepares for a song by removing the wad of gum from her mouth and indicates that she 's finished by sticking the gum back in


( S ( PP ( IN Like ) ( NP ( NP ( RB almost ) ( NN everything ) ) ( PP-LOC ( IN in ) ( NP ( DT this ) ( ADJP ( ADJP ( RB wonderfully ) ( JJ romantic ) ) ( CC and ) ( ADJP ( JJ edgy ) ) ) ( NN movie ) ) ) ) ) ( NP-SBJ ( NP ( NNP Ms. ) ( NNP Pfeiffer ) ( POS 's ) ) ( NNP Susie ) ) ( VP ( VBZ seems ) ( PP-PRD ( IN like ) ( NP ( NP ( NN someone ) ) ( SBAR ( S ( NP-SBJ ( PRP you ) ) ( VP ( VBP 've ) ( VP ( VBN seen ) ( ADVP-TMP ( RB before ) ) ( PP-LOC ( IN in ) ( NP ( JJ numerous ) ( NN show-biz ) ( NNS stories ) ) ) ) ) ) ) ) ) ( PRN ( S ( NP-SBJ ( NP ( RB even ) ( PRP$ her ) ( NN name ) ) ( NP ( NNP Susie ) ( NNP Diamond ) ) ) ( VP ( VBZ sounds ) ( PP-PRD ( IN like ) ( NP ( NP ( DT a ) ( NN character ) ) ( SBAR ( S ( NP-SBJ ( NNP Marilyn ) ( NNP Monroe ) ) ( VP ( MD must ) ( VP ( VB have ) ( VP ( VBD played ) ) ) ) ) ) ) ) ) ) ) ) )

Like almost everything in this wonderfully romantic and edgy movie Ms. Pfeiffer 's Susie seems like someone you 've seen before in numerous show-biz stories even her name Susie Diamond sounds like a character Marilyn Monroe must have played


( S ( RB Yet ) ( NP-SBJ ( NP ( NP ( NN nothing ) ) ( PP ( IN about ) ( NP-TTL ( NNP Baker ) ( NNPS Boys ) ) ) ) ( CC and ) ( ADVP ( RB certainly ) ) ( NP ( NP ( NN nothing ) ) ( PP ( IN about ) ( NP ( NNP Ms. ) ( NNP Pfeiffer ) ) ) ) ) ( ADVP ( RB really ) ) ( VP ( VBZ is ) ( PP-PRD ( IN like ) ( NP ( NP ( NN something ) ) ( PP ( IN from ) ( NP ( DT the ) ( NN video ) ( NN vault ) ) ) ) ) ) )

Yet nothing about Baker Boys and certainly nothing about Ms. Pfeiffer really is like something from the video vault


( S ( S ( NP-SBJ ( NP ( NNP Steve ) ( NNP Kloves ) ) ( NP ( DT the ) ( JJ young ) ( NN writer ) ( CC and ) ( NN director ) ) ( PRN ( S ( NP-SBJ ( PRP he ) ) ( VP ( VBZ is ) ( RB n't ) ( ADVP-TMP ( RB yet ) ) ( NP-PRD ( CD 30 ) ) ) ) ) ) ( VP ( VBZ has ) ( NP ( NP ( QP ( RB only ) ( CD one ) ) ( VBN produced ) ( NN picture ) ) ( PP ( TO to ) ( NP ( PRP$ his ) ( NN credit ) ) ) ) ) ) ( S ( NP-SBJ ( PRP he ) ) ( VP ( VBD wrote ) ( NP ( NP ( DT the ) ( NN screenplay ) ) ( PP ( IN for ) ( NP ( S-TTL ( VP ( VBG Racing ) ( PP ( IN With ) ( NP ( DT the ) ( NN Moon ) ) ) ) ) ( NP ( NP ( DT a ) ( JJ lovely ) ( JJ coming-of-age ) ( NN picture ) ) ( VP ( VBN set ) ( PP-TMP-CLR ( IN in ) ( NP ( DT the ) ( NNS '40s ) ) ) ) ) ) ) ) ) ) )

Steve Kloves the young writer and director he is n't yet 30 has only one produced picture to his credit he wrote the screenplay for Racing With the Moon a lovely coming-of-age picture set in the '40s


( S ( NP-SBJ-1 ( DT Both ) ( NNS movies ) ) ( VP ( VBP are ) ( VP ( VBN infused ) ( PP-CLR ( IN with ) ( NP ( NP ( DT the ) ( JJ nostalgic ) ( NN sensibility ) ) ( PP ( IN of ) ( NP ( NP ( NP ( NN someone ) ) ( ADJP ( RB much ) ( JJR older ) ) ) ( NP ( NP ( NN someone ) ) ( SBAR ( SBAR ( WHNP-2 ( WP who ) ) ( S ( VP ( VBZ does ) ( RB n't ) ( VP ( VB dismiss ) ( NP ( NNS dreams ) ) ) ) ) ) ( CC but ) ( SBAR ( WHNP-3 ( WP who ) ) ( S ( ADVP ( RB also ) ) ( VP ( VBZ has ) ( NP ( JJ enough ) ( NN experience ) ( S ( VP ( TO to ) ( VP ( VB see ) ( NP ( PRP$ his ) ( NNS limits ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Both movies are infused with the nostalgic sensibility of someone much older someone who does n't dismiss dreams but who also has enough experience to see his limits


( S ( S ( ADVP ( RB However ) ) ( NP-SBJ ( NNP Mr. ) ( NNP Kloves ) ) ( VP ( VBZ directs ) ( NP ( PRP$ his ) ( JJ own ) ( NN material ) ) ( PP ( PP ( IN without ) ( NP ( NN sentimentality ) ) ) ( CC and ) ( PP ( IN at ) ( NP ( PRP$ its ) ( JJ own ) ( JJ eccentric ) ( NN pace ) ) ) ) ) ) ( S ( NP-TTL-SBJ ( NNP Baker ) ( NNPS Boys ) ) ( VP ( VBZ is ) ( ADJP-PRD ( DT both ) ( JJ bluesy ) ( CC and ) ( JJ funny ) ) ) ) )

However Mr. Kloves directs his own material without sentimentality and at its own eccentric pace Baker Boys is both bluesy and funny


( S ( NP-SBJ ( PRP He ) ) ( VP ( VBZ 's ) ( VP ( VBN put ) ( NP ( DT a ) ( JJ fresh ) ( NN spin ) ) ( PP-PUT ( IN on ) ( NP ( NP ( NP ( NN material ) ) ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( VP ( MD could ) ( VP ( VB come ) ( PRT ( RP off ) ) ( ADJP-PRD ( RB terribly ) ( JJ cliched ) ) ) ) ) ) ) ( PP ( IN for ) ( NP ( NN example ) ) ) ( NP ( NP ( DT the ) ( NN way ) ) ( SBAR ( S ( NP-SBJ ( NN Susie ) ) ( VP ( VBZ wows ) ( NP ( DT an ) ( NN audience ) ) ( NP-TMP ( NP ( DT the ) ( JJ first ) ( NN time ) ) ( SBAR ( S ( NP-SBJ ( PRP she ) ) ( VP ( VBZ sings ) ( PP ( IN with ) ( NP ( DT the ) ( NNP Baker ) ( NNPS Boys ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

He 's put a fresh spin on material that could come off terribly cliched for example the way Susie wows an audience the first time she sings with the Baker Boys


( S ( PP ( IN Of ) ( NP ( NN course ) ) ) ( NP-SBJ ( NP ( PRP it ) ) ) ( VP ( VBZ does ) ( RB n't ) ( VP ( VB hurt ) ( SBAR-1 ( IN that ) ( S ( NP-SBJ ( NNP Mr. ) ( NNP Kloves ) ) ( VP ( VBZ has ) ( VP ( VBN made ) ( PRT ( RP up ) ) ( PP-CLR ( IN for ) ( NP ( NP ( PRP$ his ) ( NN lack ) ) ( PP ( IN of ) ( NP ( NN experience ) ) ) ( PP-LOC ( IN behind ) ( NP ( DT the ) ( NN camera ) ) ) ) ) ( PP ( IN with ) ( NP ( NP ( NNS technicians ) ) ( SBAR ( WHNP-2 ( WP who ) ) ( S ( VP ( VBP know ) ( SBAR-NOM ( WHNP-3 ( RB exactly ) ( WP what ) ) ( S ( NP-SBJ ( PRP they ) ) ( VP ( VBP 're ) ( VP ( VBG doing ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Of course it does n't hurt that Mr. Kloves has made up for his lack of experience behind the camera with technicians who know exactly what they 're doing


( S ( NP-SBJ ( NP ( JJ Much ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( NN picture ) ( POS 's ) ) ( NN sensuality ) ) ) ) ( VP ( VBZ emerges ) ( PP-DIR ( IN from ) ( NP ( NP ( NN cinematographer ) ( NNP Michael ) ( NNP Ballhaus ) ( POS 's ) ) ( ADJP ( RB slyly ) ( JJ seductive ) ) ( NN lens ) ( NN work ) ) ) ) )

Much of the picture 's sensuality emerges from cinematographer Michael Ballhaus 's slyly seductive lens work


( S ( PP-TMP ( IN After ) ( S-NOM ( VP ( VBG working ) ( PP-TMP ( IN for ) ( NP ( NNS years ) ) ) ( PP ( PP ( IN with ) ( NP ( NP ( NNP Werner ) ( NNP Rainer ) ( NNP Fassbinder ) ) ( NP ( DT the ) ( JJ late ) ( JJ German ) ( NN director ) ) ) ) ( CC and ) ( ADVP-TMP ( RBR more ) ( RB recently ) ) ( PP ( IN with ) ( NP ( NP ( NNP Martin ) ( NNP Scorsese ) ) ( PRN ( NP ( NP-TTL ( IN After ) ( NNS Hours ) ) ( NP-TTL ( NP ( DT The ) ( NN Color ) ) ( PP ( IN of ) ( NP ( NN Money ) ) ) ) ( NP-TTL ( NP ( DT The ) ( JJ Last ) ( NN Temptation ) ) ( PP ( IN of ) ( NP ( NNP Christ ) ) ) ) ) ) ) ) ) ) ) ) ( NP-SBJ-7 ( NNP Mr. ) ( NNP Ballhaus ) ) ( VP ( VBZ has ) ( VP ( VBN developed ) ( NP ( DT a ) ( ADJP ( RB distinctively ) ( JJ fluid ) ) ( NN style ) ) ) ) )

After working for years with Werner Rainer Fassbinder the late German director and more recently with Martin Scorsese After Hours The Color of Money The Last Temptation of Christ Mr. Ballhaus has developed a distinctively fluid style


( S ( CC And ) ( NP-SBJ ( NP ( NNP Dave ) ( NNP Grusin ) ( POS 's ) ) ( JJ witty ) ( NN score ) ) ( VP ( VBZ embraces ) ( NP ( NP ( DT the ) ( JJ banal ) ( NNS requirements ) ) ( PP ( IN of ) ( NP ( NN banquet-hall ) ( NN musicianship ) ) ) ) ( PRN ( S ( NP-SBJ-TTL ( NNS Feelings ) ) ( VP ( VBZ is ) ( NP-PRD ( DT a ) ( MD must ) ) ) ) ) ( PP ( IN without ) ( NP ( NN condescension ) ) ) ) )

And Dave Grusin 's witty score embraces the banal requirements of banquet-hall musicianship Feelings is a must without condescension


( S ( SBAR-ADV ( IN Though ) ( S ( NP-SBJ ( NNP Ms. ) ( NNP Pfeiffer ) ) ( VP ( VBZ has ) ( NP ( DT the ) ( JJ flashy ) ( NN part ) ) ( PRN ( S ( NP-SBJ-1 ( PRP she ) ) ( VP ( VBZ gets ) ( UCP ( NP ( DT the ) ( JJS best ) ( JJ comic ) ( NNS bits ) ) ( CC and ) ( S ( VP ( TO to ) ( VP ( VB wear ) ( NP ( JJ glamorous ) ( NNS dresses ) ) ( CC and ) ( NP ( JJ spiked ) ( NNS heels ) ) ) ) ) ) ) ) ) ) ) ) ( NP-SBJ ( DT the ) ( NNS boys ) ) ( VP ( VBP are ) ( ADJP-PRD ( RB pretty ) ( JJ great ) ) ( ADVP ( RB too ) ) ) )

Though Ms. Pfeiffer has the flashy part she gets the best comic bits and to wear glamorous dresses and spiked heels the boys are pretty great too


( S ( NP-SBJ-9 ( SBAR-NOM ( WHNP-1 ( WP What ) ) ( S ( VP ( VBD seemed ) ( PP-PRD ( IN like ) ( NP ( DT a ) ( JJ good ) ( NN idea ) ) ) ) ) ) ( S ( VP ( TO to ) ( VP ( VB cast ) ( NP ( NP ( DT the ) ( NNPS Bridges ) ( NNS brothers ) ) ( PRN ( NP ( NNP Jeff ) ( CC and ) ( NNP Beau ) ) ) ) ( PP-CLR ( IN as ) ( NP ( DT the ) ( NNP Baker ) ( NNS brothers ) ) ) ) ) ) ) ( ADVP ( RB actually ) ) ( VP ( VBD turned ) ( PRT ( RP out ) ) ( S ( VP ( TO to ) ( VP ( VB be ) ( NP-PRD ( DT a ) ( JJ good ) ( NN idea ) ) ) ) ) ) )

What seemed like a good idea to cast the Bridges brothers Jeff and Beau as the Baker brothers actually turned out to be a good idea


( S ( NP-SBJ ( NP ( NN Anyone ) ) ( SBAR ( WHNP-3 ( WP who ) ) ( S ( VP ( VBZ 's ) ( VP ( VBN tried ) ( S ( VP ( TO to ) ( VP ( VB appear ) ( ADJP-PRD ( JJ natural ) ) ) ) ) ( PP-LOC ( IN in ) ( NP ( NP ( NN front ) ) ( PP ( IN of ) ( NP ( DT a ) ( NN camera ) ) ) ) ) ) ) ) ) ) ( VP ( VBZ knows ) ( SBAR ( IN that ) ( S ( NP-SBJ ( NP ( PRP it ) ) ) ( VP ( VBZ 's ) ( ADJP-PRD ( ADVP ( RB much ) ( JJR more ) ) ( NN natural ) ) ( S-2 ( VP ( TO to ) ( VP ( VB end ) ( ADVP-CLR ( RB up ) ) ( S-CLR ( VP ( VBG looking ) ( PP-PRD ( IN like ) ( NP ( DT a ) ( NN stiff ) ) ) ) ) ) ) ) ) ) ) ) )

Anyone who 's tried to appear natural in front of a camera knows that it 's much more natural to end up looking like a stiff


( S ( RB So ) ( NP-SBJ ( NP ( PRP it ) ) ) ( VP ( VBZ 's ) ( ADJP-PRD ( RB quite ) ( JJ possible ) ) ( SBAR-3 ( SBAR ( IN that ) ( S ( NP-SBJ ( NP ( DT the ) ( JJ terrific ) ( NN play ) ) ( PP ( IN between ) ( NP ( DT the ) ( NNS brothers ) ) ) ) ( VP ( VBZ is ) ( RB n't ) ( ADJP-PRD ( JJ natural ) ) ( ADVP ( IN at ) ( DT all ) ) ) ) ) ( SBAR ( IN that ) ( S ( NP-SBJ-12 ( NNP Jeff ) ( CC and ) ( NNP Beau ) ) ( VP ( VBD had ) ( S ( VP ( TO to ) ( VP ( VB work ) ( PP-MNR ( IN like ) ( ADJP ( JJ crazy ) ) ) ( S-CLR ( VP ( TO to ) ( VP ( VB make ) ( S ( NP-SBJ ( NP ( PRP$ their ) ( JJ brotherly ) ( NN love ) ) ( PRN ( CC and ) ( NP ( NN resentment ) ( CC and ) ( NN frustration ) ( CC and ) ( NN rage ) ) ) ) ( VP ( VB seem ) ( ADJP-PRD ( RB so ) ( RB very ) ( JJ real ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

So it 's quite possible that the terrific play between the brothers is n't natural at all that Jeff and Beau had to work like crazy to make their brotherly love and resentment and frustration and rage seem so very real


( S ( SBAR-TMP ( WHADVP-14 ( WRB When ) ) ( S ( NP-SBJ ( DT the ) ( NN movie ) ) ( VP ( VBZ opens ) ) ) ) ( NP-SBJ ( DT the ) ( NNP Baker ) ( NNS brothers ) ) ( VP ( VBP are ) ( VP ( VBG doing ) ( NP ( SBAR-NOM ( WHNP-1 ( WP what ) ) ( S ( NP-SBJ ( PRP they ) ) ( VP ( VBP 've ) ( VP ( VP ( VBN done ) ( PP-TMP-2 ( IN for ) ( NP ( CD 15 ) ( NNS years ) ) ) ( ADVP-3 ( RB professionally ) ) ) ( CC and ) ( VP ( ADVP-TMP=2 ( ADVP ( RB twice ) ( RB as ) ( JJ long ) ) ( PP ( IN as ) ( NP ( DT that ) ) ) ) ( PP=3 ( IN for ) ( NP ( PRP themselves ) ) ) ) ) ) ) ) ( S ( NP-SBJ ( PRP They ) ) ( VP ( VBP 're ) ( VP ( VBG playing ) ( NP ( JJ proficient ) ( NN piano ) ) ( ADVP-MNR ( RB face-to-face ) ) ( PP-LOC-CLR ( IN on ) ( NP ( JJ twin ) ( NNS pianos ) ) ) ) ) ) ) ) ) )

When the movie opens the Baker brothers are doing what they 've done for 15 years professionally and twice as long as that for themselves They 're playing proficient piano face-to-face on twin pianos


( S ( NP-SBJ ( PRP They ) ) ( VP ( VBP 're ) ( NP-PRD ( JJ small ) ( NN time ) ) ( PP-LOC ( IN in ) ( NP ( NP ( NP ( NP ( DT the ) ( JJ small ) ( NNS time-hotels ) ) ( PRN ( RB not ) ( NP ( DT the ) ( JJS best ) ( NNS ones ) ) ) ) ( CC and ) ( NP ( NNS restaurants ) ) ) ( PP-4 ( IN in ) ( NP ( NNP Seattle ) ) ) ) ) ) )

They 're small time in the small time-hotels not the best ones and restaurants in Seattle


( S ( CC Yet ) ( NP-SBJ-15 ( PRP they ) ) ( VP ( VBP do ) ( RB n't ) ( VP ( VB disparage ) ( NP ( PRP$ their ) ( NNS audiences ) ) ( PP-MNR ( IN by ) ( S-NOM ( VP ( VBG disparaging ) ( NP ( PRP$ their ) ( NN act ) ) ) ) ) ) ) )

Yet they do n't disparage their audiences by disparaging their act


( S ( NP-SBJ ( PRP They ) ) ( VP ( VBP wear ) ( NP ( NNS tuxedos ) ) ( NP-TMP ( JJS most ) ( NNS nights ) ) ( SBAR-ADV ( IN unless ) ( S ( NP-SBJ ( NP ( NNS circumstances ) ) ( PRN ( NP ( NP ( DT a ) ( JJ regular ) ( NN gig ) ) ( PP-LOC ( IN at ) ( NP ( DT a ) ( JJ tropical ) ( NN lounge ) ) ) ) ( PP ( IN for ) ( NP ( NN example ) ) ) ) ) ( VP ( VBP require ) ( S ( NP-SBJ ( PRP them ) ) ( VP ( TO to ) ( VP ( VB wear ) ( NP ( NP ( JJ special ) ( NNS costumes ) ) ( PP ( IN like ) ( NP ( JJ Hawaiian ) ( NNS shirts ) ) ) ) ) ) ) ) ) ) ) )

They wear tuxedos most nights unless circumstances a regular gig at a tropical lounge for example require them to wear special costumes like Hawaiian shirts


( S ( NP-SBJ-1 ( JJ Plump ) ( NNP Beau ) ) ( S-ADV ( VP ( VBG looking ) ( ADJP-PRD ( JJ eager ) ( S ( VP ( TO to ) ( VP ( VB please ) ) ) ) ) ( PP ( IN with ) ( NP ( PRP$ his ) ( NX ( NX ( JJ arched ) ( NNS eyebrows ) ) ( CC and ) ( NX ( JJ round ) ( NN face ) ) ) ) ) ) ) ( VP ( VBZ plays ) ( NP ( NP ( DT the ) ( JJR older ) ( NN brother ) ) ( NP ( NNP Frank ) ) ) ) )

Plump Beau looking eager to please with his arched eyebrows and round face plays the older brother Frank


( S ( NP-SBJ ( NNP Frank ) ) ( VP ( VP ( VBZ plans ) ( NP ( DT the ) ( NN program ) ) ) ( VP ( VBZ takes ) ( NP-CLR ( NN care ) ) ( PP-CLR ( IN of ) ( NP ( NN business ) ) ) ) ( CC and ) ( VP ( VBZ approaches ) ( NP ( DT the ) ( NN work ) ) ( PP-MNR ( IN like ) ( NP ( DT any ) ( JJ other ) ( NN job ) ) ) ) ) )

Frank plans the program takes care of business and approaches the work like any other job


( S ( NP-SBJ-16 ( PRP He ) ) ( VP ( VBZ 's ) ( ADVP ( RB even ) ) ( ADJP-PRD ( JJ able ) ( S ( VP ( TO to ) ( VP ( VB think ) ( PP-CLR ( IN of ) ( NP ( NP ( DT a ) ( NN job ) ) ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( VP ( VBZ takes ) ( NP ( PRP him ) ) ( ADVP-DIR ( IN out ) ( PP ( IN of ) ( NP ( DT the ) ( NN house ) ) ) ) ( NP-TMP ( NP ( CD 300 ) ( NNS nights ) ) ( NP-ADV ( DT a ) ( NN week ) ) ) ) ) ) ) ) ( PP-CLR ( IN as ) ( NP ( DT an ) ( JJ ordinary ) ( NN job ) ) ) ) ) ) ) ) )

He 's even able to think of a job that takes him out of the house 300 nights a week as an ordinary job


( S ( S ( NP-SBJ ( PRP He ) ) ( VP ( VBZ 's ) ( VP ( VBN got ) ( NP ( NP ( DT a ) ( NN wife ) ) ( CC and ) ( NP ( CD two ) ( NNS kids ) ) ( CC and ) ( NP ( NP ( DT a ) ( NN house ) ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( NNS suburbs ) ) ) ) ) ) ) ) ( S ( NP-SBJ ( DT the ) ( NN audience ) ) ( VP ( VBZ sees ) ( NP ( RB only ) ( DT the ) ( NN house ) ) ( FRAG ( CC and ) ( ADVP ( RB only ) ) ( PP-TMP ( IN near ) ( NP ( NP ( DT the ) ( NN end ) ) ( PP ( IN of ) ( NP ( DT the ) ( NN movie ) ) ) ) ) ) ) ) )

He 's got a wife and two kids and a house in the suburbs the audience sees only the house and only near the end of the movie


( S ( NP-SBJ ( NNP Frank ) ) ( VP ( VBZ grovels ) ( NP-ADV ( DT a ) ( RB little ) ) ( PP-PRP ( IN for ) ( NP ( DT the ) ( NNS bookers ) ) ) ( ADVP ( ADVP ( RB probably ) ( RB no ) ( RBR more ) ( CC or ) ( RBR less ) ) ( SBAR ( IN than ) ( S ( NP-SBJ-1 ( PRP he ) ) ( VP ( MD would ) ( VP ( VB have ) ( S ( VP ( TO to ) ) ) ( SBAR-ADV ( IN if ) ( S ( NP-SBJ ( PRP he ) ) ( VP ( VBD worked ) ( PP-CLR ( IN for ) ( NP ( DT a ) ( JJ big ) ( NN corporation ) ) ) ) ) ) ) ) ) ) ) ) )

Frank grovels a little for the bookers probably no more or less than he would have to if he worked for a big corporation


( S ( PP-TMP ( IN On ) ( NP ( PRP$ his ) ( NNS off-hours ) ) ) ( NP-SBJ ( PRP he ) ) ( VP ( VBZ wears ) ( NP ( NN cardigan ) ( NNS sweaters ) ) ) )

On his off-hours he wears cardigan sweaters


( S ( S ( NP-SBJ ( NNP Jeff ) ( NNP Bridges ) ) ( VP ( VBZ is ) ( NP-PRD ( NP ( DT the ) ( JJR younger ) ( NN brother ) ) ( NP ( NNP Jack ) ) ( SBAR ( WHNP-1 ( WP who ) ) ( S ( VP ( VBZ fancies ) ( S ( NP-SBJ ( PRP himself ) ) ( NP-PRD ( DT the ) ( JJ rebellious ) ( NN artist ) ) ) ) ) ) ) ) ) ( S ( NP-SBJ ( PRP he ) ) ( VP ( VBZ lives ) ( PP-LOC-CLR ( IN in ) ( NP ( DT a ) ( NN loft ) ) ) ( PP ( IN with ) ( NP ( NP ( PRP$ his ) ( JJ sick ) ( NN dog ) ) ( CC and ) ( NP ( NP ( DT the ) ( JJ occasional ) ( NN visit ) ) ( PP ( IN from ) ( NP ( NP ( NP ( DT the ) ( JJ little ) ( NN girl ) ) ( RB upstairs ) ) ( SBAR ( WHNP-2 ( WP who ) ) ( S ( VP ( VBZ climbs ) ( PP-DIR ( IN down ) ( NP ( DT the ) ( NN fire ) ( NN escape ) ) ) ) ) ) ) ) ) ) ) ) ) )

Jeff Bridges is the younger brother Jack who fancies himself the rebellious artist he lives in a loft with his sick dog and the occasional visit from the little girl upstairs who climbs down the fire escape


( S ( S ( RB Yet ) ( NP-SBJ ( NNP Jack ) ) ( VP ( VBZ 's ) ( NP-PRD ( NP ( DT the ) ( NN one ) ) ( SBAR ( WHNP-1 ( WP who ) ) ( S ( VP ( MD can ) ( VP ( VB remember ) ( UCP ( NP ( NP ( DT every ) ( NN dive ) ) ( SBAR ( S ( NP-SBJ ( PRP they ) ) ( ADVP-TMP ( RB ever ) ) ( VP ( VBD played ) ) ) ) ) ( CC and ) ( FRAG ( WHADVP ( WRB when ) ) ) ) ) ) ) ) ) ) ) ( CC and ) ( S ( NP-SBJ ( PRP he ) ) ( VP ( ADVP-MNR ( RB dutifully ) ) ( VBZ shows ) ( PRT ( RP up ) ) ( PP-CLR ( IN for ) ( NP ( NN work ) ) ) ( NP-TMP ( NP ( RB night ) ) ( PP ( IN after ) ( NP ( RB night ) ) ) ) ( PRN ( S ( NP-SBJ-18 ( PRP he ) ) ( VP ( VBZ consoles ) ( NP ( PRP himself ) ) ( PP ( PP ( IN with ) ( NP ( NN booze ) ) ) ( CC and ) ( PP-MNR ( IN by ) ( S-NOM ( VP ( VBG showing ) ( PRT ( RP up ) ) ( PP-TMP ( IN at ) ( NP ( DT the ) ( JJ last ) ( NN minute ) ) ) ) ) ) ) ) ) ) ) ) )

Yet Jack 's the one who can remember every dive they ever played and when and he dutifully shows up for work night after night he consoles himself with booze and by showing up at the last minute


( S ( S-ADV ( VP ( VBG Looking ) ( ADJP-PRD ( ADJP ( RBR leaner ) ) ( SBAR ( IN than ) ( S ( NP-SBJ ( PRP he ) ) ( VP ( VBZ has ) ( VP ( PP-TMP ( IN in ) ( NP ( DT a ) ( NN while ) ) ) ) ) ) ) ) ) ) ( NP-SBJ-19 ( DT the ) ( NP ( JJR younger ) ( NNP Mr. ) ( NNP Bridges ) ( POS 's ) ) ( NNP Jack ) ) ( VP ( VBZ is ) ( UCP-PRD ( ADJP ( JJ sexy ) ( CC and ) ( JJ cynical ) ) ( CC and ) ( NP ( NP ( DT a ) ( ADJP ( RB far ) ( JJR sadder ) ) ( NN case ) ) ( PP ( IN than ) ( NP ( NP ( NNP Frank ) ) ( SBAR ( WHNP-1 ( WP who ) ) ( S ( VP ( VBZ 's ) ( VP ( VBN managed ) ( S ( VP ( TO to ) ( VP ( VB chisel ) ( NP-2 ( PRP$ his ) ( NNS dreams ) ) ( S-CLR ( VP ( TO to ) ( VP ( VB fit ) ( NP ( NN reality ) ) ) ) ) ( PP ( IN without ) ( S-NOM ( VP ( NN feeling ) ( ADJP-PRD ( RB too ) ( JJ cheated ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Looking leaner than he has in a while the younger Mr. Bridges 's Jack is sexy and cynical and a far sadder case than Frank who 's managed to chisel his dreams to fit reality without feeling too cheated


( S ( NP-SBJ ( PRP He ) ) ( VP ( MD can ) ( VP ( VB live ) ( PP ( IN with ) ( NP ( JJ little ) ( NNS pleasures ) ) ) ) ) )

He can live with little pleasures


( S ( NP-SBJ ( NNP Mr. ) ( NNP Kloves ) ) ( VP ( VBZ has ) ( VP ( VBN put ) ( ADVP-CLR ( RB together ) ) ( NP ( DT some ) ( JJ priceless ) ( NNS moments ) ) ) ) )

Mr. Kloves has put together some priceless moments


( S ( NP-SBJ ( DT These ) ) ( VP ( VBP include ) ( NP ( NP ( NNP Jennifer ) ( NNP Tilly ) ( POS 's ) ) ( NN audition ) ( S ( VP ( TO to ) ( VP ( VB be ) ( NP-PRD ( NP ( DT the ) ( NNP Baker ) ( NNPS Boys ) ( POS ' ) ) ( NN girl ) ( NN singer ) ) ) ) ) ) ) )

These include Jennifer Tilly 's audition to be the Baker Boys ' girl singer


( S ( NP-SBJ ( NP ( NNP Ms. ) ( NNP Tilly ) ) ( PP ( IN of ) ( NP ( DT the ) ( JJ tweety-bird ) ( NN voice ) ) ) ) ( VP ( VBD showed ) ( NP ( JJ great ) ( JJ comic ) ( NN promise ) ) ( PP-TMP ( IN during ) ( NP ( NP ( PRP$ her ) ( NN stint ) ) ( PP ( IN as ) ( NP ( NP ( DT the ) ( NN mobster ) ( POS 's ) ) ( NN girlfriend ) ) ) ( PP-LOC ( IN on ) ( NP ( NP ( DT the ) ( NN television ) ( NN show ) ) ( NP-TTL ( NNP Hill ) ( NNP Street ) ( NNPS Blues ) ) ) ) ) ) ) )

Ms. Tilly of the tweety-bird voice showed great comic promise during her stint as the mobster 's girlfriend on the television show Hill Street Blues


( S ( ADVP-LOC ( RB Here ) ) ( NP-SBJ ( PRP she ) ) ( VP ( VBZ delivers ) ( PP-TMP ( ADVP ( RB especially ) ) ( IN during ) ( NP ( NP ( PRP her ) ( ADJP ( RB enthusiastically ) ( JJ awful ) ) ( NN rendition ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( NX-TTL ( NN Candy ) ( NN Man ) ) ) ( SBAR ( WHNP-2 ( WDT which ) ) ( S ( NP-SBJ-21 ( PRP she ) ) ( VP ( VBZ sings ) ( SBAR-TMP ( IN while ) ( S ( VP ( VBG prancing ) ( ADVP-CLR ( RB around ) ) ( PP-LOC ( IN in ) ( NP ( NP ( DT a ) ( JJ little ) ( ADJP ( NN cotton ) ( NN candy ) ( JJ pink ) ) ( NN angora ) ( NN sweater ) ) ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( VP ( MD could ) ( RB n't ) ( VP ( VB be ) ( ADJP-PRD ( RBR more ) ( JJ perfect ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Here she delivers especially during her enthusiastically awful rendition of the Candy Man which she sings while prancing around in a little cotton candy pink angora sweater that could n't be more perfect


( S ( NP-SBJ ( PRP It ) ) ( VP ( VBZ matches ) ( NP ( PRP$ her ) ( NN voice ) ) ) )

It matches her voice


( S ( CC And ) ( NP-SBJ ( NP ( NP ( NP ( NNP Ms. ) ( NNP Pfeiffer ) ( POS 's ) ) ( JJ particular ) ( NN version ) ) ( PP ( IN of ) ( S-TTL ( VP ( VBG Making ) ( NP ( UH Whoopee ) ) ) ) ) ) ( PRN ( CC and ) ( NP ( NP ( DT the ) ( NN way ) ) ( SBAR ( S ( NP-SBJ ( NNP Mr. ) ( NNP Ballhaus ) ) ( VP ( VBZ photographs ) ( NP ( PRP her ) ) ( PP ( IN from ) ( NP ( NP ( DT the ) ( NNS tips ) ) ( PP ( IN of ) ( NP ( PRP$ her ) ( JJ red ) ( JJ high ) ( NNS heels ) ) ) ) ) ( PP ( ADVP ( RB right ) ) ( RB up ) ( NP ( PRP her ) ( JJ clingy ) ( JJ red ) ( NN velvet ) ( NN dress ) ) ) ) ) ) ) ) ) ( VP ( MD might ) ( VP ( VB make ) ( S ( NP-SBJ ( PRP you ) ) ( VP ( VB think ) ( PP-CLR ( IN of ) ( NP ( NNP Marilyn ) ( NNP Monroe ) ) ) ) ) ( SBAR-ADV ( IN if ) ( S ( NP-SBJ ( NNP Ms. ) ( NNP Pfeiffer ) ) ( VP ( VBD had ) ( RB n't ) ( VP ( VP ( VBN gone ) ) ( CC and ) ( VP ( VBN become ) ( NP-PRD ( NP ( DT a ) ( NN star ) ) ( PP ( IN in ) ( NP ( PRP$ her ) ( JJ own ) ( NN right ) ) ) ) ) ) ) ) ) ) ) )

And Ms. Pfeiffer 's particular version of Making Whoopee and the way Mr. Ballhaus photographs her from the tips of her red high heels right up her clingy red velvet dress might make you think of Marilyn Monroe if Ms. Pfeiffer had n't gone and become a star in her own right


VIDEO TIP


( S ( SBAR-ADV ( IN If ) ( S ( S ( NP-SBJ-23 ( PRP you ) ) ( VP ( MD 'd ) ( VP ( VB like ) ( S ( VP ( TO to ) ( VP ( VB see ) ( NP ( NP ( DT the ) ( JJ first ) ( NN time ) ) ( SBAR ( S ( NP-SBJ ( NNP Michelle ) ( NNP Pfeiffer ) ) ( VP ( VBD sang ) ( PP-LOC ( IN on ) ( NP ( NN screen ) ) ) ) ) ) ) ) ) ) ) ) ) ( CC and ) ( S ( NP-SBJ ( PRP you ) ) ( VP ( VBP have ) ( NP ( NP ( DT a ) ( NN lot ) ) ( PP ( IN of ) ( NP ( NN patience ) ) ) ) ) ) ) ) ( VP ( VB take ) ( NP ( DT a ) ( NN look ) ) ( PP-CLR ( IN at ) ( NP-TTL ( NN Grease ) ( CD 2 ) ) ) ) )

If you 'd like to see the first time Michelle Pfeiffer sang on screen and you have a lot of patience take a look at Grease 2


( S ( NP-SBJ ( PRP You ) ) ( VP ( MD 'll ) ( VP ( VB find ) ( NP ( PRP her ) ) ( ADVP-LOC ( RB there ) ) ) ) )

You 'll find her there


( S ( ADVP ( RBR Better ) ( RB yet ) ) ( VP ( VB check ) ( PRT ( RP out ) ) ( NP ( NP ( DT the ) ( NN emergence ) ) ( PP ( IN of ) ( NP ( PRP$ her ) ( JJ comic ) ( NN persona ) ) ) ( PP-LOC ( IN in ) ( NP ( S-TTL ( VP ( JJ Married ) ( PP-CLR ( TO to ) ( NP ( DT the ) ( NN Mob ) ) ) ) ) ( NP ( NP ( NNP Jonathan ) ( NNP Demme ) ( POS 's ) ) ( JJ delightful ) ( NNP Mafia ) ( NN comedy ) ) ) ) ) ) )

Better yet check out the emergence of her comic persona in Married to the Mob Jonathan Demme 's delightful Mafia comedy


( S ( NP-SBJ ( NP ( JJ Many ) ) ( PP-LOC ( IN in ) ( NP ( NNP Washington ) ) ) ) ( VP ( VBP say ) ( SBAR ( S ( NP-SBJ-1 ( NNP President ) ( NNP Bush ) ) ( VP ( MD will ) ( VP ( VB have ) ( S ( VP ( TO to ) ( VP ( VB raise ) ( NP ( NNS taxes ) ) ( S-PRP ( VP ( TO to ) ( VP ( VB pay ) ( PP-CLR ( IN for ) ( NP ( NP ( PRP$ his ) ( NN war ) ) ( PP ( IN on ) ( NP ( NNS drugs ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Many in Washington say President Bush will have to raise taxes to pay for his war on drugs


( S ( NP-SBJ ( PRP We ) ) ( VP ( VBP have ) ( NP ( NP ( DT a ) ( JJR better ) ( NN idea ) ) ( S ( VP ( VB Dismantle ) ( NP ( NNP HUD ) ) ( S-PRP ( VP ( TO to ) ( VP ( VB pay ) ( PP-CLR ( IN for ) ( NP ( NP ( DT the ) ( NN war ) ) ( PP ( IN on ) ( NP ( NNS drugs ) ) ) ) ) ) ) ) ) ) ) ) )

We have a better idea Dismantle HUD to pay for the war on drugs


( S ( NP-SBJ ( NP ( NP ( NNP Housing ) ) ( CC and ) ( NP ( NNP Urban ) ( NNP Development ) ) ( POS 's ) ) ( NN budget ) ) ( VP ( VBZ is ) ( NP-PRD ( QP ( CD 17 ) ( CD billion ) ) ) ) )

Housing and Urban Development 's budget is 17 billion


( S ( PP ( IN From ) ( SBAR-NOM ( WHNP-3 ( WP what ) ) ( S ( NP-SBJ-2 ( NP ( PRP we ) ) ( CC and ) ( NP ( DT the ) ( NN nation ) ) ) ( VP ( VBP have ) ( VP ( VBN been ) ( S ( VP ( VBG reading ) ) ) ) ) ) ) ) ( NP-SBJ-1 ( DT the ) ( NN money ) ) ( VP ( VBZ is ) ( RB n't ) ( VP ( VBG being ) ( VP ( VBN spent ) ( ADVP-MNR ( RB very ) ( RB well ) ) ) ) ) )

From what we and the nation have been reading the money is n't being spent very well


( S ( NP-SBJ ( NP ( DT The ) ( JJ single ) ( ADJP ( RBS most ) ( JJ important ) ) ( NN contribution ) ) ( SBAR ( S ( NP-SBJ-2 ( DT the ) ( NN government ) ) ( VP ( MD could ) ( VP ( VB make ) ( ADVP-TMP ( RB now ) ) ( S-PRP ( VP ( TO to ) ( VP ( VB help ) ( NP ( DT the ) ( JJ poor ) ) ) ) ) ) ) ) ) ) ( VP ( VBZ is ) ( S-PRD ( VP ( TO to ) ( VP ( VB get ) ( S ( NP-SBJ ( NP ( DT the ) ( NN specter ) ) ( PP ( IN of ) ( NP ( NNS drugs ) ) ) ) ( PP-PRD ( IN out ) ( PP ( IN of ) ( NP ( PRP$ their ) ( NNS neighborhoods ) ) ) ) ) ) ) ) ) )

The single most important contribution the government could make now to help the poor is to get the specter of drugs out of their neighborhoods


( S ( SBAR-ADV ( IN If ) ( S ( NP-SBJ ( DT that ) ) ( VP ( VBZ takes ) ( NP ( NN money ) ) ) ) ) ( VP ( VB take ) ( NP ( PRP it ) ) ( ADVP-DIR ( RB away ) ) ( PP-DIR ( IN from ) ( NP ( DT this ) ( JJ discredited ) ( JJ federal ) ( NN department ) ) ) ) )

If that takes money take it away from this discredited federal department


( S ( CC But ) ( PP ( IN of ) ( NP ( NN course ) ) ) ( NP-SBJ ( NP ( DT the ) ( NNPS Democrats ) ) ( VP ( VBG pillorying ) ( NP ( NNP HUD ) ) ( PP-LOC ( PP ( IN in ) ( NP ( NNS hearings ) ) ) ( CC and ) ( PP ( IN in ) ( NP ( DT the ) ( NN press ) ) ) ) ) ) ( VP ( VBP have ) ( NP ( DT no ) ( JJ such ) ( NN solution ) ) ( PP-LOC-CLR ( IN in ) ( NP ( NN mind ) ) ) ) )

But of course the Democrats pillorying HUD in hearings and in the press have no such solution in mind


( S ( ADVP ( RB Instead ) ) ( NP-SBJ-1 ( PRP they ) ) ( VP ( VBP 're ) ( VP ( VBG scrambling ) ( S ( VP ( TO to ) ( VP ( VB protect ) ( NP ( NP ( DT the ) ( JJ very ) ( NNS programs ) ) ( PP-LOC ( IN at ) ( NP ( NP ( DT the ) ( NN heart ) ) ( PP ( IN of ) ( NP ( DT the ) ( NNP HUD ) ( NN scandal ) ) ) ) ) ) ) ) ) ) ) )

Instead they 're scrambling to protect the very programs at the heart of the HUD scandal


( S ( NP-TMP ( DT This ) ( NN month ) ) ( NP-SBJ ( NNP HUD ) ( NNP Secretary ) ( NNP Jack ) ( NNP Kemp ) ) ( VP ( VBD unveiled ) ( NP ( NP ( DT a ) ( NN series ) ) ( PP ( IN of ) ( NP ( NP ( VBN proposed ) ( NNS reforms ) ) ( SBAR ( S ( VP ( TO to ) ( VP ( VB improve ) ( NP ( NP ( NN management ) ) ( PP-LOC ( IN at ) ( NP ( NNP HUD ) ) ) ) ) ) ) ) ) ) ) ) )

This month HUD Secretary Jack Kemp unveiled a series of proposed reforms to improve management at HUD


( S ( S ( NP-ADV ( DT No ) ( NN doubt ) ) ( NP-SBJ ( NP ( JJ many ) ) ( PP ( IN of ) ( NP ( PRP$ his ) ( NNS ideas ) ) ) ) ( VP ( VBP are ) ( ADJP-PRD ( JJ worthy ) ) ) ) ( CC but ) ( S ( ADVP ( RB ultimately ) ) ( NP-SBJ-1 ( PRP he ) ) ( VP ( VBZ is ) ( VP ( VBG proposing ) ( S ( VP ( TO to ) ( VP ( VB make ) ( S ( NP-SBJ ( ADJP ( RB fundamentally ) ( JJ flawed ) ) ( NNS programs ) ) ( VP ( VB work ) ( ADVP-MNR ( RB slightly ) ( RBR more ) ( RB fairly ) ( CC and ) ( RB efficiently ) ) ) ) ) ) ) ) ) ) )

No doubt many of his ideas are worthy but ultimately he is proposing to make fundamentally flawed programs work slightly more fairly and efficiently


( S ( NP-SBJ-1 ( NNP Congress ) ) ( VP ( VBZ is ) ( ADJP-PRD ( JJ unlikely ) ( S ( VP ( TO to ) ( VP ( VB go ) ( ADVP-DIR ( RB even ) ( DT that ) ( RB far ) ) ) ) ) ) ) )

Congress is unlikely to go even that far


( S ( NP-TMP ( JJ Last ) ( NN week ) ) ( NP-SBJ ( NNP Secretary ) ( NNP Kemp ) ) ( VP ( VBD ran ) ( PP-DIR ( IN into ) ( NP ( NP ( DT a ) ( NN buzzsaw ) ) ( PP ( IN of ) ( NP ( NP ( NN criticism ) ) ( PP ( IN from ) ( NP ( NNP House ) ( NNP Banking ) ( NNP Committee ) ( NNS members ) ) ) ) ) ) ) ) )

Last week Secretary Kemp ran into a buzzsaw of criticism from House Banking Committee members


( S ( NP-SBJ ( PRP They ) ) ( VP ( VBD were ) ( ADJP-PRD ( VBN appalled ) ( PRN ( PP ( IN for ) ( NP ( NN instance ) ) ) ) ( SBAR ( IN that ) ( S ( NP-SBJ-2 ( PRP he ) ) ( VP ( VBD wanted ) ( S ( VP ( TO to ) ( VP ( VP ( VB target ) ( NP ( NP ( JJR more ) ) ( PP ( IN of ) ( NP ( DT the ) ( ADJP ( QP ( CD 3 ) ( CD billion ) ) ) ( NNP Community ) ( NNP Development ) ( NNP Block ) ( NNP Grant ) ( PRN ( NNP CDBG ) ) ( NN program ) ) ) ) ( PP-CLR ( TO to ) ( NP ( JJ low-income ) ( NNS projects ) ) ) ) ( CC and ) ( VP ( VB zero ) ( PRT ( RP out ) ) ( NP ( NP ( DT the ) ( JJ notorious ) ( JJ discretionary ) ( NNS funds ) ) ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( VP ( VBP have ) ( VP ( VBN allowed ) ( S ( NP-SBJ ( NNP HUD ) ( NNS officials ) ) ( VP ( TO to ) ( VP ( VB steer ) ( NP ( NNS contracts ) ) ( PP-DIR ( TO to ) ( NP ( JJ political ) ( NNS cronies ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

They were appalled for instance that he wanted to target more of the 3 billion Community Development Block Grant CDBG program to low-income projects and zero out the notorious discretionary funds that have allowed HUD officials to steer contracts to political cronies


( S ( NP-SBJ ( DT These ) ( NN development ) ( NNS grants ) ) ( ADVP ( RB mainly ) ) ( VP ( VBP enrich ) ( NP ( NP ( NNS developers ) ) ( SBAR ( WHNP-1 ( WP who ) ) ( S ( VP ( VBP want ) ( S ( VP ( TO to ) ( VP ( VB put ) ( PRT ( RP up ) ) ( NP ( NP ( NN shopping ) ( NNS centers ) ) ( CC and ) ( NP ( NN parking ) ( NNS garages ) ) ) ) ) ) ) ) ) ) ) )

These development grants mainly enrich developers who want to put up shopping centers and parking garages


( S ( S ( NP-SBJ ( PRP They ) ) ( ADVP ( RB also ) ) ( VP ( VBP give ) ( NP-1 ( NP ( DT those ) ) ( PP-LOC ( IN in ) ( NP ( NNP Congress ) ) ) ) ( NP ( JJ political ) ( NN credit ) ) ( PP ( IN for ) ( S-NOM ( VP ( VBG bringing ) ( ADVP-DIR ( NN home ) ) ( NP ( DT the ) ( NN pork ) ) ) ) ) ) ) ( CC and ) ( IN so ) ( S ( NP-SBJ ( PRP they ) ) ( VP ( VBP are ) ( ADJP-PRD ( JJ popular ) ) ( PP ( IN with ) ( NP ( NP ( JJ such ) ( NNS Members ) ) ( PP ( IN as ) ( NP ( NNP Mary ) ( NNP Rose ) ( NNP Oakar ) ) ) ) ) ) ) )

They also give those in Congress political credit for bringing home the pork and so they are popular with such Members as Mary Rose Oakar


( S ( NP-SBJ ( NP ( NNP Rep. ) ( NNP Oakar ) ) ( NP ( NP ( DT a ) ( NNP Democrat ) ) ( PP-LOC ( IN from ) ( NP ( NNP Cleveland ) ) ) ) ) ( VP ( VBZ wants ) ( NP ( DT a ) ( ADJP ( CD 6.9 ) ( CD million ) ) ( NN grant ) ) ( SBAR-PRP ( IN so ) ( S ( NP-SBJ ( NNP Cleveland ) ) ( VP ( MD can ) ( VP ( VB build ) ( NP ( NP ( DT an ) ( JJ 18-story ) ( NNP Rock ) ( CC and ) ( NNP Roll ) ( NNP Hall ) ) ( PP ( IN of ) ( NP ( NNP Fame ) ) ) ) ) ) ) ) ) )

Rep. Oakar a Democrat from Cleveland wants a 6.9 million grant so Cleveland can build an 18-story Rock and Roll Hall of Fame


( S ( NP-SBJ ( PRP She ) ) ( VP ( VBZ says ) ( SBAR ( S ( NP-SBJ ( PRP it ) ) ( VP ( MD 'd ) ( VP ( VP ( VB create ) ( NP ( CD 600 ) ( NNS jobs ) ) ) ( CC and ) ( VP ( VB bring ) ( NP ( NNP Cleveland ) ) ( NP ( NN tourist ) ( NN revenue ) ) ) ) ) ) ) ) )

She says it 'd create 600 jobs and bring Cleveland tourist revenue


( S ( S ( NP-SBJ ( NNP HUD ) ) ( VP ( VBZ says ) ( SBAR ( S ( NP-SBJ ( DT the ) ( NN project ) ) ( VP ( VBZ does ) ( RB n't ) ( VP ( VB qualify ) ) ) ) ) ) ) ( CC and ) ( S ( NP-SBJ ( NNP Mr. ) ( NNP Kemp ) ) ( VP ( VBZ says ) ( SBAR ( DT that ) ( S ( NP-SBJ-1 ( NP ( NN rock ) ( CC 'n' ) ( NN roll ) ( NNS musicians ) ) ( CC and ) ( NP ( DT the ) ( NN music ) ( NN industry ) ) ) ( VP ( MD ought ) ( S ( VP ( TO to ) ( VP ( VB put ) ( PRT ( RP up ) ) ( NP ( DT the ) ( NN money ) ) ) ) ) ) ) ) ) ) )

HUD says the project does n't qualify and Mr. Kemp says that rock 'n' roll musicians and the music industry ought to put up the money


( S ( PP-LOC ( IN At ) ( NP ( DT the ) ( NN hearing ) ) ) ( NP-SBJ ( NNP Rep. ) ( NNP Oakar ) ) ( VP ( VBD started ) ( VP ( VBG wailing ) ( PP-CLR ( IN about ) ( NP ( NP ( JJ phoney ) ( NN baloney ) ( NNS regulations ) ) ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( VP ( MD would ) ( VP ( VB stand ) ( PP-LOC-CLR ( IN between ) ( NP ( NP ( PRP her ) ) ( CC and ) ( NP ( NP ( NN housing ) ) ( PP ( IN for ) ( NP ( NN downtown ) ( NN Cleveland ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

At the hearing Rep. Oakar started wailing about phoney baloney regulations that would stand between her and housing for downtown Cleveland


( S ( S ( NP-SBJ ( NP ( NNP Rep. ) ( NNP Chalmers ) ( NNP Wylie ) ) ( NP ( DT an ) ( NNP Ohio ) ( NNP Republican ) ) ) ( VP ( VBD rallied ) ( PP-CLR ( TO to ) ( NP ( DT the ) ( NN cause ) ) ) ) ) ( S ( NP-SBJ ( PRP I ) ) ( VP ( VBP think ) ( SBAR ( S ( NP-SBJ ( DT the ) ( NN gentlelady ) ) ( VP ( VBZ is ) ( VP ( VBG making ) ( NP ( DT an ) ( JJ important ) ( NN statement ) ) ) ) ) ) ) ) )

Rep. Chalmers Wylie an Ohio Republican rallied to the cause I think the gentlelady is making an important statement


( S ( NP-TPC-1 ( DT The ) ( NN implication ) ( SBAR ( IN that ) ( S ( SBAR-ADV ( IN if ) ( S ( NP-SBJ ( DT a ) ( NN congressman ) ) ( VP ( VBZ calls ) ( PP ( IN about ) ( NP ( NP ( DT a ) ( NN project ) ) ( PP-LOC ( IN in ) ( NP ( PRP$ his ) ( NN district ) ) ) ) ) ) ) ) ( NP-SBJ ( EX there ) ) ( VP ( VBZ 's ) ( NP-PRD ( NP ( NN something ) ) ( ADJP ( JJ wrong ) ) ) ) ) ) ) ( NP-SBJ ( PRP I ) ) ( VP ( VBP think ) ( SBAR ( S ( VP ( VBZ is ) ( ADJP-PRD ( RBS most ) ( JJ unfortunate ) ) ) ) ) ) )

The implication that if a congressman calls about a project in his district there 's something wrong I think is most unfortunate


( S ( NP-SBJ ( PRP We ) ) ( VP ( VBP 're ) ( ADJP-PRD ( RB sure ) ( SBAR ( S ( NP-SBJ ( DT some ) ( NN theologian ) ) ( VP ( MD can ) ( VP ( VB explain ) ( NP ( NP ( DT the ) ( NN difference ) ) ( PP ( IN between ) ( SBAR-NOM ( SBAR ( WHNP-1 ( WP what ) ) ( S ( NP-SBJ ( DT the ) ( JJ Republican ) ( NNS consultants ) ) ( VP ( VBP have ) ( VP ( VBN been ) ( VP ( VBG doing ) ( PP ( IN with ) ( NP ( NNP HUD ) ) ) ) ) ) ) ) ( CC and ) ( SBAR ( WHNP-2 ( WP what ) ) ( S ( NP-SBJ-3 ( DT these ) ( NNS gentleladies ) ( CC and ) ( NNS gentlemen ) ) ( VP ( VBP want ) ( S ( VP ( TO to ) ( VP ( VB do ) ( PP ( IN with ) ( NP ( NNP HUD ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

We 're sure some theologian can explain the difference between what the Republican consultants have been doing with HUD and what these gentleladies and gentlemen want to do with HUD


( S ( NP-SBJ ( PRP$ Our ) ( NN view ) ) ( VP ( VBZ is ) ( SBAR-PRD ( DT that ) ( S ( PP ( VBN given ) ( NP ( NP ( NP ( NNP Congress ) ( POS 's ) ) ( NN attitude ) ) ( PP ( IN toward ) ( NP ( NNP HUD ) ) ) ) ) ( NP-SBJ ( DT the ) ( NN place ) ) ( ADVP ( RB probably ) ) ( VP ( VBZ is ) ( PP-PRD ( IN beyond ) ( NP ( NN reform ) ) ) ) ) ) ) )

Our view is that given Congress 's attitude toward HUD the place probably is beyond reform


( S ( PP ( IN For ) ( NP ( QP ( JJR more ) ( IN than ) ( CD 50 ) ) ( NNS years ) ) ) ( NP-SBJ ( DT the ) ( JJ federal ) ( NN government ) ) ( VP ( VBZ has ) ( VP ( VBN tried ) ( NP ( NP ( JJ various ) ( NNS ways ) ) ( SBAR ( S ( VP ( TO to ) ( VP ( VP ( VB provide ) ( NP ( NN housing ) ) ( PP-CLR ( IN for ) ( NP ( DT the ) ( JJ poor ) ) ) ) ( CC and ) ( VP ( VB revive ) ( NP ( NNS cities ) ) ) ) ) ) ) ) ) ) )

For more than 50 years the federal government has tried various ways to provide housing for the poor and revive cities


( S ( PP-LOC ( IN In ) ( NP ( DT the ) ( NN process ) ) ) ( NP-SBJ ( NNP HUD ) ) ( VP ( VBZ has ) ( VP ( VP ( VBN wasted ) ( NP ( JJ untold ) ( NNS billions ) ) ) ( VP ( VBN created ) ( NP ( NNS slums ) ) ) ( CC and ) ( VP ( VBN invited ) ( NP ( NN corruption ) ) ) ) ) )

In the process HUD has wasted untold billions created slums and invited corruption


( S ( NP-SBJ ( NP ( RB Much ) ) ( PP ( IN of ) ( NP ( NP ( NNP HUD ) ( POS 's ) ) ( NN spending ) ) ) ) ( ADVP ( RB actually ) ) ( VP ( VBZ is ) ( NP-PRD ( NP ( VBN disguised ) ( NN welfare ) ) ( PP ( IN for ) ( NP ( NP ( NNS developers ) ) ( CC or ) ( NP ( DT the ) ( JJ middle ) ( NN class ) ) ) ) ) ) )

Much of HUD 's spending actually is disguised welfare for developers or the middle class


( S ( NP-SBJ ( DT That ) ) ( VP ( VBZ includes ) ( NP ( NP ( DT the ) ( NNP CDBG ) ( NNS funds ) ) ( CC and ) ( NP ( NP ( DT the ) ( NNP Federal ) ( NNP Housing ) ( NNP Administration ) ) ( SBAR ( WHNP-1 ( WDT which ) ) ( S ( VP ( VP ( VBZ loans ) ( PRT ( RP out ) ) ( NP ( NN money ) ) ( PP ( IN for ) ( NP ( JJ private ) ( NN home ) ( NNS mortgages ) ) ) ) ( CC and ) ( VP ( VBZ has ) ( ADVP-TMP ( RB just ) ) ( VP ( VBN been ) ( VP ( VBN discovered ) ( S ( VP ( TO to ) ( VP ( VB be ) ( PP-LOC-PRD ( NP ( QP ( CD 4 ) ( CD billion ) ) ) ( IN in ) ( NP ( DT the ) ( NN hole ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

That includes the CDBG funds and the Federal Housing Administration which loans out money for private home mortgages and has just been discovered to be 4 billion in the hole


( S ( S-NOM-SBJ ( VP ( VBG Selling ) ( NP ( NP ( DT the ) ( NNP FHA ) ( POS 's ) ) ( NN loan ) ( NN portfolio ) ) ( PP-DTV ( TO to ) ( NP ( DT the ) ( JJS highest ) ( NN bidder ) ) ) ) ) ( VP ( MD would ) ( VP ( VB save ) ( NP ( DT the ) ( NNS taxpayers ) ) ( NP ( NP ( JJ untold ) ( NNS billions ) ) ( PP ( IN in ) ( NP ( JJ future ) ( NNS losses ) ) ) ) ) ) )

Selling the FHA 's loan portfolio to the highest bidder would save the taxpayers untold billions in future losses


( S ( S ( NP-SBJ ( DT Some ) ( NNP HUD ) ( NN money ) ) ( ADVP ( RB actually ) ) ( VP ( VBZ does ) ( VP ( VB trickle ) ( ADVP-DIR ( RB down ) ) ( PP-DIR ( TO to ) ( NP ( DT the ) ( JJ poor ) ) ) ) ) ) ( CC and ) ( S ( S-NOM-SBJ ( VP ( VBG zeroing ) ( PRT ( RP out ) ) ( NP ( NN housing ) ( NNS middlemen ) ) ) ) ( VP ( MD would ) ( VP ( VB free ) ( PRT ( RP up ) ) ( NP ( JJR more ) ( NN money ) ) ( SBAR ( IN for ) ( S ( NP-SBJ ( JJ public ) ( NN housing ) ( NNS tenants ) ) ( VP ( TO to ) ( VP ( VP ( VB manage ) ) ( CC and ) ( ADVP ( VB even ) ) ( VP ( JJ own ) ) ( NP-1 ( PRP$ their ) ( NNS units ) ) ) ) ) ) ) ) ) )

Some HUD money actually does trickle down to the poor and zeroing out housing middlemen would free up more money for public housing tenants to manage and even own their units


( S ( NP-SBJ-1 ( DT The ) ( NN rest ) ) ( VP ( MD ought ) ( S ( VP ( TO to ) ( VP ( VB be ) ( VP ( VBN used ) ( S-CLR ( VP ( TO to ) ( VP ( VB clean ) ( PRT ( RP out ) ) ( NP ( NNS drugs ) ) ( PP-CLR ( IN from ) ( NP ( DT the ) ( NNS neighbhorhoods ) ) ) ) ) ) ) ) ) ) ) )

The rest ought to be used to clean out drugs from the neighbhorhoods


( S ( NP-SBJ ( JJ Rival ) ( NNS gangs ) ) ( VP ( VBP have ) ( VP ( VBN turned ) ( NP ( NNS cities ) ) ( PP-CLR ( IN into ) ( NP ( NN combat ) ( NNS zones ) ) ) ) ) )

Rival gangs have turned cities into combat zones


( S ( NP-SBJ ( NP ( RB Even ) ( JJ suburban ) ( NP ( NNP Prince ) ( NNP George ) ( POS 's ) ) ( NNP County ) ) ( NP-LOC ( NNP Md. ) ) ) ( VP ( VBD reported ) ( NP-TMP ( JJ last ) ( NN week ) ) ( SBAR ( S ( NP-SBJ ( EX there ) ) ( VP ( VBP have ) ( VP ( VBN been ) ( NP-PRD ( DT a ) ( NN record ) ( CD 96 ) ( NNS killings ) ) ( ADVP-LOC ( RB there ) ) ( NP-TMP ( DT this ) ( NN year ) ) ( S-ADV ( NP-SBJ ( NP ( JJS most ) ) ( PP ( IN of ) ( NP ( PRP them ) ) ) ) ( ADJP-PRD ( JJ drug-related ) ) ) ) ) ) ) ) )

Even suburban Prince George 's County Md. reported last week there have been a record 96 killings there this year most of them drug-related


( S ( NP-SBJ ( JJ Innocent ) ( NNS bystanders ) ) ( ADVP-TMP ( RB often ) ) ( VP ( VBP are ) ( NP-PRD ( DT the ) ( NNS victims ) ) ) )

Innocent bystanders often are the victims


( S ( NP-SBJ-1 ( NP ( DT A ) ( NN man ) ) ( PP-LOC ( IN in ) ( NP ( DT a ) ( NN wheelchair ) ) ) ) ( VP ( VBD was ) ( VP ( VBN gunned ) ( ADVP-CLR ( RB down ) ) ( PP-LOC ( IN in ) ( NP ( NP ( DT the ) ( NN crossfire ) ) ( PP ( IN of ) ( NP ( DT a ) ( NNP Miami ) ( NN drug ) ( NN battle ) ) ) ) ) ) ) )

A man in a wheelchair was gunned down in the crossfire of a Miami drug battle


( S ( NP-SBJ-1 ( DT A ) ( JJ three-year-old ) ( NNP Brooklyn ) ( NN boy ) ) ( VP ( VBD was ) ( VP ( VBN used ) ( PP-CLR ( IN as ) ( NP ( DT a ) ( NN shield ) ) ) ( PP ( IN by ) ( NP-LGS ( DT a ) ( NN drug ) ( NN dealer ) ) ) ) ) )

A three-year-old Brooklyn boy was used as a shield by a drug dealer


( S ( NP-SBJ-1 ( NP ( JJ Decent ) ( NN life ) ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( JJ inner ) ( NNS cities ) ) ) ) ( VP ( MD wo ) ( RB n't ) ( VP ( VB be ) ( VP ( VBN restored ) ( SBAR-ADV ( IN unless ) ( S ( NP-SBJ ( DT the ) ( NN government ) ) ( VP ( VBZ reclaims ) ( NP ( DT the ) ( NNS streets ) ) ( PP-CLR ( IN from ) ( NP ( DT the ) ( NN drug ) ( NNS gangs ) ) ) ) ) ) ) ) ) )

Decent life in the inner cities wo n't be restored unless the government reclaims the streets from the drug gangs


( S ( PP-TMP ( IN Until ) ( NP ( RB then ) ) ) ( NP-SBJ-1 ( NP ( DT the ) ( NNS billions ) ) ( SBAR ( S ( NP-SBJ ( NNP HUD ) ) ( VP ( VBZ spends ) ( PP-CLR ( IN on ) ( NP ( JJ inner-city ) ( NN housing ) ) ) ) ) ) ) ( ADVP ( RB simply ) ) ( VP ( VBZ is ) ( VP ( VBN wasted ) ) ) )

Until then the billions HUD spends on inner-city housing simply is wasted


( S ( NP-SBJ ( NP ( PRP It ) ) ) ( VP ( VBZ 's ) ( ADVP-TMP ( RB still ) ) ( ADJP-PRD ( JJ unclear ) ) ( SBAR-3 ( IN whether ) ( S ( NP-SBJ-1 ( NNP Secretary ) ( NNP Kemp ) ) ( VP ( VBZ wants ) ( S ( VP ( TO to ) ( VP ( VP ( ADVP-MNR ( RB completely ) ) ( VB overhaul ) ( NP ( NP ( DT the ) ( NN engine ) ( NN room ) ) ( PP-LOC ( IN at ) ( NP ( NNP HUD ) ) ) ) ) ( CC or ) ( ADVP ( RB just ) ) ( VP ( VB tighten ) ( NP ( DT a ) ( JJ few ) ( NNS screws ) ) ( ADVP-LOC ( RB here ) ( CC and ) ( RB there ) ) ) ) ) ) ) ) ) ) )

It 's still unclear whether Secretary Kemp wants to completely overhaul the engine room at HUD or just tighten a few screws here and there


( S ( NP-ADV ( DT No ) ( NN doubt ) ) ( NP-SBJ ( PRP he ) ) ( VP ( VBZ believes ) ( SBAR ( S ( NP-SBJ-1 ( DT the ) ( NN place ) ) ( VP ( MD can ) ( VP ( VB be ) ( VP ( VBN salvaged ) ) ) ) ) ) ) )

No doubt he believes the place can be salvaged


( S ( S-ADV ( VP ( VBG Having ) ( VP ( VBN seen ) ( NP ( NP ( DT the ) ( NN hypocrisy ) ) ( SBAR ( WHPP-2 ( IN with ) ( WHNP ( WDT which ) ) ) ( S ( NP-SBJ ( NNP Congress ) ) ( VP ( VBZ has ) ( VP ( VBN addressed ) ( NP ( DT the ) ( NNP HUD ) ( NNS scandals ) ) ) ) ) ) ) ) ) ) ( NP-SBJ-1 ( PRP we ) ) ( VP ( VBP disagree ) ) )

Having seen the hypocrisy with which Congress has addressed the HUD scandals we disagree


( S ( NP-SBJ ( PRP It ) ) ( VP ( VBZ 's ) ( NP-PRD ( NP ( NN time ) ) ( SBAR ( S ( VP ( TO to ) ( VP ( VP ( VB scrap ) ( NP ( NP ( DT the ) ( ADJP ( RB politically ) ( JJ infested ) ) ( NN spending ) ( NN machine ) ) ( SBAR ( S ( NP-SBJ ( NNP HUD ) ) ( VP ( VBZ has ) ( VP ( VB become ) ) ) ) ) ) ) ( CC and ) ( VP ( VB channel ) ( NP ( DT the ) ( NNS resources ) ) ( PP-DIR ( IN into ) ( NP ( DT the ) ( NN drug ) ( NN war ) ) ) ) ) ) ) ) ) ) )

It 's time to scrap the politically infested spending machine HUD has become and channel the resources into the drug war


( S ( NP-SBJ ( NNP Mellon ) ( NNP Bank ) ( NNP Corp. ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( NNS directors ) ) ( VP ( VBD authorized ) ( NP ( NP ( DT the ) ( NN buy-back ) ) ( PP ( IN of ) ( NP ( QP ( RB as ) ( JJ many ) ( IN as ) ( CD 250,000 ) ) ( JJ common ) ( NNS shares ) ) ) ) ) ) ) ) )

Mellon Bank Corp. said directors authorized the buy-back of as many as 250,000 common shares


( S ( NP-SBJ ( DT The ) ( NN bank ) ( VBG holding ) ( NN company ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ-1 ( NP ( NN stock ) ) ( VP ( VBN repurchased ) ) ) ( VP ( MD will ) ( VP ( VB be ) ( VP ( VBN used ) ( S-CLR ( VP ( TO to ) ( VP ( VB meet ) ( NP ( NP ( NNS requirements ) ) ( PP ( IN for ) ( NP ( NP ( DT the ) ( NN company ) ( POS 's ) ) ( NN benefit ) ( NNS plans ) ) ) ) ) ) ) ) ) ) ) ) ) )

The bank holding company said stock repurchased will be used to meet requirements for the company 's benefit plans


( S ( NP-SBJ ( NNP Mellon ) ) ( VP ( VBZ has ) ( NP ( NP ( QP ( CD 36.6 ) ( CD million ) ) ( NNS shares ) ) ( ADJP ( JJ outstanding ) ) ) ) )

Mellon has 36.6 million shares outstanding


( S ( NP-SBJ-1 ( NNP John ) ( NNP E. ) ( NNP Hayes ) ( NNP Jr. ) ) ( VP ( VBD was ) ( VP ( VBN elected ) ( S ( NP-PRD ( NP ( NN chairman ) ) ( NP ( NN president ) ) ( CC and ) ( NP ( JJ chief ) ( NN executive ) ( NN officer ) ) ) ) ( S-ADV ( VP ( VBG succeeding ) ( NP ( NP ( NNP David ) ( NNP S. ) ( NNP Black ) ) ( SBAR ( WHNP-2 ( WP who ) ) ( S ( VP ( VBD retired ) ) ) ) ) ) ) ) ) )

John E. Hayes Jr. was elected chairman president and chief executive officer succeeding David S. Black who retired


( S ( NP-SBJ-3 ( NP ( NNP Mr. ) ( NNP Hayes ) ) ( ADJP ( NP ( CD 52 ) ( NNS years ) ) ( JJ old ) ) ) ( VP ( VBD left ) ( NP ( NP ( NNP Southwestern ) ( NNP Bell ) ( NNP Telephone ) ( NNP Co. ) ) ) ( PP-TMP ( IN in ) ( NP ( NNP January ) ) ) ( SBAR-LOC-2 ( WHADVP-1 ( WRB where ) ) ( S ( NP-SBJ ( PRP he ) ) ( VP ( VBD had ) ( VP ( VBN been ) ( NP-PRD ( NP ( NN chairman ) ) ( NP ( NN president ) ) ( CC and ) ( NP ( JJ chief ) ( NN executive ) ) ) ) ) ) ) ( S-PRP ( VP ( TO to ) ( VP ( VB join ) ( NP ( NP ( NNP Triad ) ( NNP Capital ) ( NNPS Partners ) ) ( NP ( NP ( DT a ) ( NNP St. ) ( NNP Louis ) ( NN company ) ) ( PP ( IN with ) ( NP ( NP ( NNS interests ) ) ( PP ( IN in ) ( NP ( NP ( NP ( JJ solid ) ( NN waste ) ) ( CC and ) ( NP ( NN recycling ) ) ) ( NP ( NN telecommunications ) ) ( CC and ) ( NP ( JJ international ) ( NN venture ) ( NN capital ) ) ) ) ) ) ) ) ) ) ) ) )

Mr. Hayes 52 years old left Southwestern Bell Telephone Co. in January where he had been chairman president and chief executive to join Triad Capital Partners a St. Louis company with interests in solid waste and recycling telecommunications and international venture capital


( S ( NP-SBJ-1 ( PRP He ) ) ( VP ( VBZ has ) ( VP ( VBN resigned ) ( NP ( NP ( PRP$ his ) ( NNS posts ) ) ( PP-LOC ( IN at ) ( NP ( NNP Triad ) ) ) ) ( S-PRP ( VP ( TO to ) ( VP ( VB take ) ( NP ( DT the ) ( NNP Kansas ) ( NNP Power ) ( NNS positions ) ) ) ) ) ) ) )

He has resigned his posts at Triad to take the Kansas Power positions


( S ( NP-SBJ ( NNP Kansas ) ( NNP Power ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( NP ( NNP Mr. ) ( NNP Black ) ) ( NP ( CD 61 ) ) ) ( VP ( VBD chose ) ( NP ( JJ early ) ( NN retirement ) ) ) ) ) ) )

Kansas Power said Mr. Black 61 chose early retirement


( S ( NP-SBJ-2 ( NNP Equitec ) ( NNP Financial ) ( NNP Group ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( PRP it ) ) ( VP ( MD will ) ( VP ( VB ask ) ( NP-1 ( NP ( QP ( RB as ) ( JJ many ) ( IN as ) ( CD 100,000 ) ) ( NNS investors ) ) ( PP-LOC ( IN in ) ( NP ( NP ( CD 12 ) ) ( PP ( IN of ) ( NP ( PRP$ its ) ( JJ public ) ( NN real-estate ) ( JJ limited ) ( NNS partnerships ) ) ) ) ) ) ( S ( VP ( TO to ) ( VP ( VB give ) ( NP ( NN approval ) ) ( PP-DTV ( TO to ) ( S-NOM ( VP ( VBG rolling ) ( NP ( PRP them ) ) ( PRT ( RP up ) ) ( PP-CLR ( IN into ) ( NP ( DT a ) ( JJ new ) ( NN master ) ( JJ limited ) ( NN partnership ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Equitec Financial Group said it will ask as many as 100,000 investors in 12 of its public real-estate limited partnerships to give approval to rolling them up into a new master limited partnership


( S ( PP-LOC ( IN Under ) ( NP ( NP ( DT the ) ( NN proposal ) ) ( PP ( IN by ) ( NP ( NP ( NNP Equitec ) ) ( NP ( DT a ) ( ADJP ( RB financially ) ( JJ troubled ) ) ( NN real-estate ) ( NN syndicator ) ) ) ) ) ) ( NP-SBJ ( ADJP ( NNP New ) ( JJ York-based ) ) ( NNP Hallwood ) ( NNP Group ) ( NNP Inc. ) ) ( VP ( MD would ) ( VP ( VB replace ) ( NP ( NNP Equitec ) ) ( PP-CLR ( IN as ) ( NP ( NP ( DT the ) ( ADJP ( RB newly ) ( JJ formed ) ) ( NN master ) ( JJ limited ) ( NN partnership ) ( POS 's ) ) ( NX ( NX ( JJ general ) ( NN partner ) ) ( CC and ) ( NX ( NN manager ) ) ) ) ) ) ) )

Under the proposal by Equitec a financially troubled real-estate syndicator New York-based Hallwood Group Inc. would replace Equitec as the newly formed master limited partnership 's general partner and manager


( S ( NP-SBJ ( NP ( NNS Shares ) ) ( PP ( IN of ) ( NP ( DT the ) ( JJ new ) ( NN partnership ) ) ) ) ( VP ( MD would ) ( VP ( VB trade ) ( PP-LOC ( IN on ) ( NP ( DT an ) ( NN exchange ) ) ) ( PP-MNR ( IN like ) ( NP ( DT a ) ( NN stock ) ) ) ) ) )

Shares of the new partnership would trade on an exchange like a stock


( S ( NP-SBJ ( NNP Hallwood ) ) ( VP ( VBZ is ) ( NP-PRD ( NP ( DT a ) ( NN merchant ) ( NN bank ) ) ( SBAR ( WHNP-1 ( WP$ whose ) ( NNS activities ) ) ( S ( VP ( VBP include ) ( NP ( NP ( DT the ) ( NX ( NX ( NN ownership ) ) ( NX ( NN management ) ) ( CC and ) ( NX ( JJ financial ) ( NN restructuring ) ) ) ) ( PP ( IN of ) ( NP ( NP ( NN shopping ) ( NNS centers ) ) ( NP ( NN office ) ( NNS buildings ) ) ( NP ( NNS apartments ) ) ( CC and ) ( NP ( JJ other ) ( JJ real ) ( NN estate ) ) ) ) ) ) ) ) ) ) )

Hallwood is a merchant bank whose activities include the ownership management and financial restructuring of shopping centers office buildings apartments and other real estate


( S ( PP-LOC ( IN In ) ( NP ( DT a ) ( NN statement ) ) ) ( NP-SBJ ( NNP Equitec ) ( NNP Chairman ) ( NNP Richard ) ( NNP L. ) ( NNP Saalfeld ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( DT the ) ( NN transfer ) ) ( VP ( MD will ) ( VP ( VB benefit ) ( NP ( DT both ) ( NP ( DT the ) ( NN company ) ) ( CC and ) ( NP ( NP ( NNS investors ) ) ( PP-LOC ( IN in ) ( NP ( NP ( DT the ) ( CD 12 ) ( JJ limited ) ( NNS partnerships ) ) ( VP ( VBN included ) ( PP-LOC-CLR ( IN in ) ( NP ( DT the ) ( JJ proposed ) ( NN rollup ) ) ) ) ) ) ) ) ) ) ) ) ) )

In a statement Equitec Chairman Richard L. Saalfeld said the transfer will benefit both the company and investors in the 12 limited partnerships included in the proposed rollup


( S ( SBAR-ADV ( IN While ) ( S ( NP-SBJ ( PRP he ) ) ( VP ( VBD did ) ( RB n't ) ( VP ( VB describe ) ( NP ( NP ( DT the ) ( NNS partnerships ) ( POS ' ) ) ( JJ financial ) ( NN condition ) ) ) ) ) ) ( NP-SBJ ( PRP he ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ-1 ( PRP$ their ) ( NNS operations ) ) ( VP ( VBP continue ) ( S ( VP ( TO to ) ( VP ( VB drain ) ( NP ( NP ( DT the ) ( NNS resources ) ) ( PP ( IN of ) ( NP ( NNP Equitec ) ) ) ) ) ) ) ) ) ) ) )

While he did n't describe the partnerships ' financial condition he said their operations continue to drain the resources of Equitec