( S ( PP ( IN By ) ( NP ( NN comparison ) ) ) ( NP-SBJ ( JJ global ) ( NN asset ) ( NN allocation ) ( NNS funds ) ) ( VP ( VBP have ) ( VP ( VBN turned ) ( PRT ( RP in ) ) ( NP-PRD ( NP ( DT an ) ( JJ average ) ( NN total ) ( NN return ) ) ( PP ( IN of ) ( NP ( QP ( IN about ) ( CD 19 ) ) ( NN % ) ) ) ) ( SBAR-ADV ( IN while ) ( S ( NP-SBJ ( JJ domestic ) ( JJ flexible ) ( NNS portfolios ) ) ( VP ( VBP are ) ( ADVP-PRD ( RB up ) ( NP ( QP ( IN about ) ( CD 17 ) ) ( NN % ) ) ) ) ) ) ) ) )

By comparison global asset allocation funds have turned in an average total return of about 19 % while domestic flexible portfolios are up about 17 %


( S ( NP-SBJ ( JJ Fixed-income ) ( NNS funds ) ) ( VP ( VBP have ) ( VP ( VBN returned ) ( NP ( CD 8.2 ) ( NN % ) ) ( SBAR-ADV ( IN while ) ( S ( NP-SBJ ( NP ( JJ gold ) ( NNS funds ) ) ( SBAR ( WHNP-1 ( WDT which ) ) ( S ( VP ( VBP tend ) ( S ( VP ( TO to ) ( VP ( VB be ) ( ADJP-PRD ( JJ volatile ) ) ) ) ) ) ) ) ) ( VP ( VBP have ) ( VP ( VBN risen ) ( NP-EXT ( QP ( RB just ) ( CD 4.55 ) ) ( NN % ) ) ( PP ( IN on ) ( NP ( NN average ) ) ) ) ) ) ) ) ) )

Fixed-income funds have returned 8.2 % while gold funds which tend to be volatile have risen just 4.55 % on average


( SINV ( S-TPC-2 ( NP-SBJ ( DT That ) ) ( VP ( VBZ 's ) ( NP-PRD ( NP ( DT the ) ( NN problem ) ) ( PP ( IN with ) ( S-NOM ( VP ( VBG trying ) ( S ( VP ( TO to ) ( VP ( VB hedge ) ( ADVP ( RB too ) ( JJ much ) ) ) ) ) ) ) ) ) ) ) ( VP ( VBD said ) ) ( NP-SBJ ( NNP Mr. ) ( NNP Brouwer ) ) )

That 's the problem with trying to hedge too much said Mr. Brouwer


( S ( NP-SBJ ( PRP You ) ) ( VP ( VBP do ) ( RB n't ) ( VP ( VB make ) ( NP ( DT any ) ( JJ real ) ( NN money ) ) ) ) )

You do n't make any real money


( S-2 ( PP-TMP ( IN Over ) ( NP ( DT the ) ( JJ last ) ( CD 20 ) ( NNS years ) ) ) ( PP ( IN for ) ( NP ( NN example ) ) ) ( PRN ( S ( NP-SBJ ( NNP Mr. ) ( NNP Brouwer ) ) ( VP ( VBZ says ) ) ) ) ( NP-SBJ ( NP ( DT an ) ( NN investor ) ) ( VP ( VBG putting ) ( NP ( NP ( CD 5,000 ) ) ( NP-ADV ( DT a ) ( NN year ) ) ) ( PP-PUT ( IN in ) ( NP ( DT the ) ( NNP S&P ) ( CD 500 ) ) ) ) ) ( VP ( MD would ) ( VP ( VB have ) ( VP ( VBN made ) ( NP ( NP ( QP ( RB nearly ) ( RB twice ) ) ( RB as ) ( JJ much ) ) ( PP ( IN than ) ( SBAR ( IN if ) ( S ( NP-SBJ-1 ( PRP it ) ) ( VP ( VBD were ) ( VP ( VBN invested ) ( PP-LOC-CLR ( IN in ) ( NP ( NNP Treasury ) ( NNS bills ) ) ) ) ) ) ) ) ) ) ) ) )

Over the last 20 years for example Mr. Brouwer says an investor putting 5,000 a year in the S&P 500 would have made nearly twice as much than if it were invested in Treasury bills


( S ( NP-SBJ ( DT Some ) ( NN equity ) ( NNS funds ) ) ( VP ( VBD did ) ( ADJP ( ADJP ( RBR better ) ) ( PP ( RBR than ) ( NP ( NNS others ) ) ) ) ( PP-TMP ( IN in ) ( NP ( NP ( DT the ) ( NN week ) ) ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( VP ( VBD began ) ( PP-TMP-CLR ( IN on ) ( NP ( NNP Friday ) ( DT the ) ( NN 13th ) ) ) ) ) ) ) ) ) )

Some equity funds did better than others in the week that began on Friday the 13th


( S ( NP-SBJ ( DT The ) ( ADJP ( QP ( CD 4 ) ( CD million ) ) ) ( NNP Monetta ) ( NNP Fund ) ) ( PP ( IN for ) ( NP ( NN instance ) ) ) ( VP ( VBD was ) ( NP-PRD ( NP ( DT the ) ( JJ seventh ) ( JJ top ) ( VBG performing ) ( NN fund ) ) ( PP ( IN for ) ( NP ( DT the ) ( NN week ) ) ) ) ( PP ( IN with ) ( NP ( DT a ) ( ADJP ( CD 2.65 ) ( NN % ) ) ( NN return ) ) ) ) )

The 4 million Monetta Fund for instance was the seventh top performing fund for the week with a 2.65 % return


( S ( NP-SBJ ( PRP$ Its ) ( NN return ) ) ( NP-TMP ( ADVP ( RB so ) ( RB far ) ) ( DT this ) ( NN year ) ) ( VP ( VBZ has ) ( VP ( VBN been ) ( NP-PRD ( DT a ) ( JJ credible ) ( CD 21.71 ) ( NN % ) ) ) ) )

Its return so far this year has been a credible 21.71 %


( S ( NP-SBJ ( NP ( DT The ) ( NN fund ) ( POS 's ) ) ( NN strategy ) ) ( VP ( VBZ is ) ( S-PRD ( VP ( TO to ) ( VP ( VB sell ) ( SBAR-TMP ( WHADVP-1 ( WRB when ) ) ( S ( NP-SBJ ( DT a ) ( NN stock ) ) ( VP ( VBZ appreciates ) ( NP-EXT ( NP ( CD 30 ) ( NN % ) ) ( PP ( IN over ) ( NP ( PRP$ its ) ( NN cost ) ) ) ) ) ) ) ) ) ) ) )

The fund 's strategy is to sell when a stock appreciates 30 % over its cost


( SINV ( S-TPC-2 ( PP-TMP ( IN By ) ( NP ( NP ( DT the ) ( NN time ) ) ( SBAR ( S ( NP-SBJ ( DT the ) ( NN market ) ) ( VP ( VBD plummeted ) ( ADVP-TMP ( NP ( CD 10 ) ( NNS days ) ) ( RB ago ) ) ) ) ) ) ) ( NP-SBJ ( NNP Monetta ) ) ( VP ( VBD was ) ( NP-PRD ( NP ( CD 55 ) ( NN % ) ) ( PP ( IN in ) ( NP ( NN cash ) ) ) ) ) ) ( VP ( VBD said ) ) ( NP-SBJ ( NP ( NNP Robert ) ( NNP Bacarella ) ) ( NP ( NN president ) ( CC and ) ( NN portfolio ) ( NN manager ) ) ) )

By the time the market plummeted 10 days ago Monetta was 55 % in cash said Robert Bacarella president and portfolio manager


( S ( NP-TMP ( JJ Last ) ( NNP Monday ) ) ( NP-SBJ-2 ( PRP he ) ) ( VP ( VBD started ) ( S ( VP ( VBG buying ) ( NP ( NP ( DT the ) ( JJ high-quality ) ( NN growth ) ( NNS companies ) ) ( SBAR ( WHNP-1 ( IN that ) ) ( S ( NP-SBJ ( NNS people ) ) ( VP ( VBD were ) ( VP ( VBG throwing ) ( PRT ( RP away ) ) ( PP-CLR ( IN at ) ( NP ( NN discount ) ( NNS prices ) ) ) ) ) ) ) ) ) ) ) )

Last Monday he started buying the high-quality growth companies that people were throwing away at discount prices


( FRAG ( PP ( IN Among ) ( NP ( NP ( NNP Mr. ) ( NNP Bacarella ) ( POS 's ) ) ( NNS picks ) ) ) ( NP ( NP ( NNP Oracle ) ( NNPS Systems ) ) ( NP ( NNP Reebok ) ( NNP International ) ( NNP Ltd. ) ) ( CC and ) ( NP ( NNP Digital ) ( NNP Microwave ) ( NNP Corp ) ) ) )

Among Mr. Bacarella 's picks Oracle Systems Reebok International Ltd. and Digital Microwave Corp


( S ( NP-SBJ ( NP ( DT The ) ( NN fund ) ( POS 's ) ) ( NN cash ) ( NN position ) ) ( VP ( VBZ is ) ( ADVP-TMP ( RB now ) ) ( NP-PRD ( NP ( QP ( IN about ) ( CD 22 ) ) ( NN % ) ) ( SBAR ( WHNP-1 ( WDT which ) ) ( S ( NP-SBJ ( NNP Mr. ) ( NNP Bacarella ) ) ( VP ( VBZ calls ) ( S ( ADJP-PRD ( RB still ) ( JJ bearish ) ) ) ) ) ) ) ) )

The fund 's cash position is now about 22 % which Mr. Bacarella calls still bearish


( S ( PP ( IN Among ) ( NP ( DT the ) ( JJ big ) ( NN stock ) ( NNS funds ) ) ) ( NP-SBJ ( NP ( NNP Dreyfus ) ( NNP Fund ) ) ( SBAR ( IN with ) ( S ( NP-SBJ ( QP ( JJR more ) ( IN than ) ( CD 2 ) ( CD billion ) ) ) ( PP-LOC-PRD ( IN in ) ( NP ( NNS assets ) ) ) ) ) ) ( VP ( VBD had ) ( NP ( NP ( NP ( DT a ) ( NN decline ) ) ( PP ( IN of ) ( NP ( NP ( QP ( RB just ) ( CD 1.49 ) ) ( NN % ) ) ( PP ( IN for ) ( NP ( DT the ) ( NN week ) ) ) ) ) ) ( CC and ) ( NP ( NP ( DT a ) ( NN return ) ) ( PP ( IN of ) ( NP ( NP ( CD 21.42 ) ( NN % ) ) ( PP ( IN for ) ( NP ( DT the ) ( NN year ) ) ) ) ) ) ) ) )

Among the big stock funds Dreyfus Fund with more than 2 billion in assets had a decline of just 1.49 % for the week and a return of 21.42 % for the year


( S ( NP-SBJ ( NP ( NNP Howard ) ( NNP Stein ) ) ( NP ( NP ( NN chairman ) ) ( PP ( IN of ) ( NP ( NNP Dreyfus ) ( NNP Corp. ) ) ) ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( DT the ) ( NN fund ) ) ( VP ( VBD was ) ( VP ( VP ( QP-1 ( IN about ) ( RB half ) ) ( VBN invested ) ( PP-LOC-CLR-2 ( IN in ) ( NP ( NN government ) ( NNS bonds ) ) ) ( PP-TMP ( IN on ) ( NP ( NNP Oct. ) ( CD 13 ) ) ) ) ( CC and ) ( VP ( QP=1 ( IN about ) ( CD 10 ) ( NN % ) ) ( PP-LOC-CLR=2 ( IN in ) ( NP ( NN cash ) ) ) ) ) ) ) ) ) )

Howard Stein chairman of Dreyfus Corp. said the fund was about half invested in government bonds on Oct. 13 and about 10 % in cash


( S ( S-TPC-1 ( PP-LOC ( IN In ) ( NP ( DT a ) ( JJ downward ) ( NN market ) ) ) ( NP-SBJ ( NNS bonds ) ) ( VP ( VBP act ) ( ADVP-CLR ( RB better ) ) ) ) ( NP-SBJ ( PRP he ) ) ( VP ( VBD said ) ) )

In a downward market bonds act better he said


( S ( NP-SBJ ( PRP We ) ) ( ADVP-TMP ( RB still ) ) ( VP ( VB think ) ( SBAR ( S ( NP-SBJ ( EX there ) ) ( VP ( VBZ 's ) ( NP-PRD ( NP ( DT a ) ( NN lot ) ) ( PP ( IN of ) ( NP ( NN unsettlement ) ) ) ) ( PP-LOC ( IN in ) ( NP ( DT this ) ( NN market ) ) ) ) ) ) ) )

We still think there 's a lot of unsettlement in this market


( S ( NP-SBJ ( PRP We ) ) ( VP ( VBP believe ) ( SBAR ( S ( S ( NP-SBJ-1 ( NN interest ) ( NNS rates ) ) ( VP ( MD will ) ( VP ( VB continue ) ( S ( VP ( TO to ) ( VP ( VB trend ) ( ADVP-CLR ( RBR lower ) ) ) ) ) ) ) ) ( CC and ) ( S ( NP-SBJ ( DT the ) ( NN economy ) ) ( VP ( MD will ) ( VP ( VB slow ) ( PP-LOC ( IN around ) ( NP ( DT the ) ( NN world ) ) ) ) ) ) ) ) ) )

We believe interest rates will continue to trend lower and the economy will slow around the world


( S ( NP-SBJ-1 ( NP ( JJ Many ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( NNS funds ) ) ( SBAR ( WHNP-2 ( WDT that ) ) ( S ( VP ( VBD did ) ( ADVP-CLR ( RBS best ) ) ( PP-TMP ( IN in ) ( NP ( DT the ) ( JJ last ) ( NN week ) ) ) ) ) ) ) ) ) ( VP ( VBP are ) ( VP ( ADVP-MNR ( RB heavily ) ) ( VBN invested ) ( ADVP-LOC ( RB overseas ) ) ) ( S-ADV ( VP ( VBG giving ) ( NP ( PRP them ) ) ( NP ( NP ( DT the ) ( NN benefit ) ) ( PP ( IN of ) ( NP ( JJ foreign ) ( NN currency ) ( NNS translations ) ) ) ) ( SBAR-TMP ( WHADVP-3 ( WRB when ) ) ( S ( NP-SBJ ( DT the ) ( NN dollar ) ) ( VP ( VBZ is ) ( ADJP-PRD ( JJ weak ) ) ) ) ) ) ) ) )

Many of the funds that did best in the last week are heavily invested overseas giving them the benefit of foreign currency translations when the dollar is weak


( S ( PP ( PP ( IN From ) ( NP ( NP ( PRP$ its ) ( JJ high ) ( NN point ) ) ( PP-TMP ( IN on ) ( NP ( NP ( NNP Thursday ) ) ( NP ( NNP Oct. ) ( CD 12 ) ) ) ) ) ) ( PP ( TO to ) ( SBAR-NOM ( WHADVP-1 ( WRB where ) ) ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBN traded ) ( ADVP-TMP ( RB late ) ) ( PP-LOC ( IN in ) ( NP ( NNP New ) ( NNP York ) ) ) ( ADVP-TMP ( NP ( DT a ) ( NN week ) ) ( RB later ) ) ) ) ) ) ) ( NP-SBJ ( DT the ) ( NN dollar ) ) ( VP ( VBD fell ) ( NP-EXT ( NP ( NP ( CD 3.6 ) ( NN % ) ) ( PP ( IN against ) ( NP ( DT the ) ( JJ West ) ( JJ German ) ( NN mark ) ) ) ) ( NP ( NP ( CD 3.4 ) ( NN % ) ) ( PP ( IN against ) ( NP ( DT the ) ( JJ British ) ( NN pound ) ) ) ) ( CC and ) ( NP ( NP ( CD 2.1 ) ( NN % ) ) ( PP ( IN against ) ( NP ( DT the ) ( JJ Japanese ) ( NNS yen ) ) ) ) ) ) )

From its high point on Thursday Oct. 12 to where it traded late in New York a week later the dollar fell 3.6 % against the West German mark 3.4 % against the British pound and 2.1 % against the Japanese yen


( S ( NP-SBJ ( NP ( CD Three ) ( JJ International ) ( NN Cash ) ( NNS Portfolios ) ( NNS funds ) ) ( SBAR ( WHNP-1 ( WDT which ) ) ( S ( VP ( VBP invest ) ( ADVP ( RB almost ) ( RB exclusively ) ) ( PP-LOC-CLR ( IN in ) ( NP ( NNS bonds ) ( CC and ) ( NN money-market ) ( NNS instruments ) ) ) ( ADVP-LOC ( RB overseas ) ) ) ) ) ) ( VP ( VBD were ) ( PP-PRD ( IN among ) ( NP ( DT the ) ( CD four ) ( JJ top-performing ) ( NNS funds ) ) ) ( PP-TMP ( IN in ) ( NP ( DT the ) ( JJS latest ) ( NN week ) ) ) ) )

Three International Cash Portfolios funds which invest almost exclusively in bonds and money-market instruments overseas were among the four top-performing funds in the latest week


( S ( SBAR-PRP ( IN Because ) ( S ( NP-SBJ-1 ( NP ( DT the ) ( NNS funds ) ( POS ' ) ) ( NNS investments ) ) ( VP ( VBP are ) ( VP ( VBN denominated ) ( PP-CLR ( IN in ) ( NP ( JJ foreign ) ( NNS currencies ) ) ) ) ) ) ) ( NP-SBJ ( NP ( PRP$ their ) ( NN value ) ) ( VP ( VBN expressed ) ( PP-CLR ( IN in ) ( NP ( NNS dollars ) ) ) ) ) ( VP ( VBZ goes ) ( ADVP-DIR ( RB up ) ) ( SBAR-TMP ( WHADVP-2 ( WRB when ) ) ( S ( NP-SBJ ( DT those ) ( NNS currencies ) ) ( VP ( VBP rise ) ( PP ( IN against ) ( NP ( DT the ) ( NN dollar ) ) ) ) ) ) ) )

Because the funds ' investments are denominated in foreign currencies their value expressed in dollars goes up when those currencies rise against the dollar


( S ( CC But ) ( SBAR-TMP ( WHADVP-1 ( WRB when ) ) ( S ( NP-SBJ ( DT the ) ( NN dollar ) ) ( VP ( VBZ rises ) ( PP ( IN against ) ( NP ( JJ major ) ( JJ foreign ) ( NNS currencies ) ) ) ) ) ) ( PRN ( SBAR-ADV ( IN as ) ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBD did ) ( PP-TMP ( IN for ) ( NP ( NP ( RB much ) ) ( PP ( IN of ) ( NP ( DT this ) ( NN year ) ) ) ) ) ) ) ) ) ( NP-SBJ ( NP ( DT the ) ( NN dollar ) ( NN value ) ) ( PP ( IN of ) ( NP ( DT these ) ( NNS funds ) ) ) ) ( VP ( VBZ declines ) ) )

But when the dollar rises against major foreign currencies as it did for much of this year the dollar value of these funds declines


( S ( NP-SBJ ( DT All ) ( CD three ) ( NNS funds ) ) ( VP ( VBD posted ) ( NP ( NP ( JJ negative ) ( NNS returns ) ) ( PP ( IN for ) ( NP ( NP ( DT the ) ( NN year ) ) ( PP ( TO to ) ( NP ( NN date ) ) ) ) ) ) ) )

All three funds posted negative returns for the year to date


( S ( PP ( IN Of ) ( NP ( NP ( DT the ) ( NNS funds ) ) ( SBAR ( WHNP-2 ( WDT that ) ) ( S ( VP ( VBD fared ) ( NP-CLR ( DT the ) ( JJS worst ) ) ( PP-TMP ( IN in ) ( NP ( DT the ) ( NNP post-Oct ) ( CD 13 ) ( NN week ) ) ) ) ) ) ) ) ( NP-SBJ-1 ( CD two ) ) ( VP ( VBP are ) ( VP ( ADVP ( RB heavily ) ) ( VBN invested ) ( PP-CLR-LOC ( IN in ) ( NP ( NP ( NNS airlines ) ( NNS stocks ) ) ( SBAR ( WHNP-3 ( WDT which ) ) ( S ( VP ( VP ( VBD led ) ( NP ( DT the ) ( NN market ) ( NN slide ) ) ) ( PP-TMP ( VBG following ) ( NP ( NP ( NNS problems ) ) ( PP ( IN with ) ( NP ( NN financing ) ) ) ( PP ( IN for ) ( NP ( DT the ) ( NNP UAL ) ( NNP Corp ) ( NN buy-out ) ( NN plan ) ) ) ) ) ) ) ) ) ) ) ) )

Of the funds that fared the worst in the post-Oct 13 week two are heavily invested in airlines stocks which led the market slide following problems with financing for the UAL Corp buy-out plan


( S ( S-ADV ( VP ( VBG Reflecting ) ( NP ( NN airline ) ( NN takeover ) ( NN activity ) ) ) ) ( ADVP ( RB however ) ) ( NP-SBJ-1 ( DT both ) ( NP ( DT the ) ( NNP Fidelity ) ( NNP Select ) ( NNP Air ) ( NNP Transportation ) ( NNP Portfolio ) ) ( CC and ) ( NP ( DT the ) ( NNP National ) ( NNP Aviation ) ( CC & ) ( NNP Technology ) ( NN fund ) ) ) ( VP ( VBD posted ) ( NP ( NP ( NP ( JJ better-than-average ) ( NNS returns ) ) ( PP ( IN for ) ( NP ( NP ( DT the ) ( DT the ) ( NN year ) ) ( PP ( TO to ) ( NP ( NN date ) ) ) ) ) ) ( NP ( NP ( NP ( CD 30.09 ) ( NN % ) ) ( PP ( IN for ) ( NP ( DT the ) ( NNP Fidelity ) ( NNP Air ) ( NNP Transportation ) ( NN fund ) ) ) ) ( CC and ) ( NP ( NP ( DT a ) ( JJ whopping ) ( CD 47.24 ) ( NN % ) ) ( PP ( IN for ) ( NP ( NNP National ) ( NNP Aviation ) ( CC & ) ( NNP Technology ) ) ) ) ) ) ) )

Reflecting airline takeover activity however both the Fidelity Select Air Transportation Portfolio and the National Aviation & Technology fund posted better-than-average returns for the the year to date 30.09 % for the Fidelity Air Transportation fund and a whopping 47.24 % for National Aviation & Technology


( SINV ( S-TPC-1 ( NP-SBJ ( NP ( DT The ) ( JJ small ) ( NN drop ) ) ( PP ( IN in ) ( NP ( NP ( NN equity ) ( NNS funds ) ) ( PP ( IN in ) ( NP ( JJ general ) ) ) ) ) ) ( PP-TMP ( IN in ) ( NP ( DT the ) ( JJS latest ) ( NN week ) ) ) ( VP ( MD may ) ( RB not ) ( ADVP ( RB necessarily ) ) ( VP ( VB be ) ( NP-PRD ( DT a ) ( JJ good ) ( NN sign ) ) ) ) ) ( VP ( VBD said ) ) ( NP-SBJ ( NP ( NN A. ) ( NNP Michael ) ( NNP Lipper ) ) ( NP ( NP ( NN president ) ) ( PP ( IN of ) ( NP ( NNP Lipper ) ( NNP Analytical ) ) ) ) ) )

The small drop in equity funds in general in the latest week may not necessarily be a good sign said A. Michael Lipper president of Lipper Analytical


( S ( S-ADV ( VP ( VBG Noting ) ( SBAR ( IN that ) ( S ( NP-SBJ ( NN equity ) ( NNS funds ) ) ( VP ( VBP are ) ( ADVP-PRD ( RB up ) ( NP ( QP ( RB nearly ) ( CD 60 ) ) ( NN % ) ) ( PP-TMP ( IN from ) ( NP ( NP ( PRP$ their ) ( JJ post-crash ) ( NN low ) ) ( PP-TMP ( IN on ) ( NP ( NNP Dec. ) ( CD 3 ) ( CD 1987 ) ) ) ) ) ) ) ) ) ) ) ( NP-SBJ-2 ( PRP he ) ) ( VP ( VBD said ) ( SBAR ( IN that ) ( S ( SBAR-NOM-SBJ ( WHNP-1 ( WP what ) ) ( S ( VP ( VBD happened ) ( NP-TMP-CLR ( JJ last ) ( NN week ) ) ) ) ) ( VP ( MD may ) ( RB not ) ( VP ( VB be ) ( NP-PRD ( NP ( RB enough ) ) ( PP ( IN of ) ( NP ( DT an ) ( NN adjustment ) ) ) ) ) ) ) ) ) )

Noting that equity funds are up nearly 60 % from their post-crash low on Dec. 3 1987 he said that what happened last week may not be enough of an adjustment


( S ( NP-SBJ ( EX There ) ) ( VP ( VBZ 's ) ( NP-PRD ( RB either ) ( NP ( NP ( JJR more ) ) ( SBAR ( S ( VP ( TO to ) ( VP ( VB come ) ) ) ) ) ) ( CC or ) ( NP ( NP ( DT an ) ( ADJP ( RB extremely ) ( JJ long ) ) ( NN period ) ) ( PP ( IN of ) ( NP ( NN dullness ) ) ) ) ) ) )

There 's either more to come or an extremely long period of dullness


( S ( CC But ) ( NP-SBJ-1 ( NNS investors ) ) ( VP ( VBP do ) ( RB n't ) ( VP ( VB seem ) ( S ( VP ( TO to ) ( VP ( VB think ) ( ADVP-CLR ( RB so ) ) ) ) ) ) ) )

But investors do n't seem to think so


( S ( NP-SBJ ( JJ Several ) ( JJ big ) ( JJ mutual ) ( NN fund ) ( NNS groups ) ) ( VP ( VBD said ) ( NP-TMP ( JJ last ) ( NN week ) ) ( SBAR ( DT that ) ( S ( NP-SBJ ( NP ( NN cash ) ( VBZ flows ) ) ( PP ( IN into ) ( NP ( NN stock ) ( NNS funds ) ) ) ) ( VP ( VBD were ) ( ADJP-PRD ( ADJP ( JJR heavier ) ) ( PP ( IN than ) ( ADJP ( JJ usual ) ) ) ) ( PP-TMP ( IN after ) ( NP ( NP ( JJ heavy ) ( NNS outflows ) ) ( PP-TMP ( IN on ) ( NP ( DT the ) ( NN 13th ) ) ) ) ) ) ) ) ) )

Several big mutual fund groups said last week that cash flows into stock funds were heavier than usual after heavy outflows on the 13th


( S ( NP-SBJ ( NNP Vanguard ) ( NNP Group ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBD had ) ( NP ( NP ( DT a ) ( ADJP ( QP ( JJR more ) ( IN than ) ( CD 50 ) ( CD million ) ) ) ( JJ net ) ( NN inflow ) ) ( PP ( IN into ) ( NP ( PRP$ its ) ( NN stock ) ( NNS funds ) ) ) ) ( NP-TMP ( JJ last ) ( NN week ) ) ) ) ) ) )

Vanguard Group said it had a more than 50 million net inflow into its stock funds last week


( SINV ( S-TPC-1 ( NP-SBJ ( EX There ) ) ( ADVP ( RB certainly ) ) ( VP ( VBZ has ) ( RB n't ) ( VP ( VBN been ) ( NP-PRD ( DT a ) ( NN panic ) ( NN reaction ) ) ) ) ) ( VP ( VBD said ) ) ( NP-SBJ ( NP ( NNP Steven ) ( NNP Norwitz ) ) ( NP ( NP ( DT a ) ( NN vice ) ( NN president ) ) ( PP-LOC ( IN at ) ( NP ( NNP T. ) ( NNP Rowe ) ( NNP Price ) ( NNPS Associates ) ) ) ) ) )

There certainly has n't been a panic reaction said Steven Norwitz a vice president at T. Rowe Price Associates


( S ( NP-SBJ ( NNS People ) ) ( VP ( VBD showed ) ( NP ( NP ( DT some ) ( NN staying ) ( NN power ) ) ( CC and ) ( PP ( IN in ) ( NP ( NN fact ) ) ) ( NP ( NP ( NN interest ) ) ( PP ( IN in ) ( S-NOM ( VP ( VBG buying ) ( NP ( NNS equities ) ) ) ) ) ) ) ) )

People showed some staying power and in fact interest in buying equities


( NP ( NP ( NN Source ) ) ( NP ( NNP Lipper ) ( NNP Analytical ) ( NNPS Services ) ( NNP Inc ) ) )

Source Lipper Analytical Services Inc


( X ( X ( SYM \* ) ) ( S ( RB Not ) ( VP ( VBG counting ) ( NP ( NNS dividends ) ) ) ) )

\* Not counting dividends


( X ( X ( SYM \*\* ) ) ( PP ( IN With ) ( S-NOM ( NP-SBJ-1 ( NNS dividends ) ) ( VP ( VBN reinvested ) ) ) ) )

\*\* With dividends reinvested


( NP ( NP ( NNS Sources ) ) ( NP ( NP ( NNP Lipper ) ( NNP Analytical ) ( NNPS Services ) ( NNP Inc. ) ) ( NP ( NP ( NNP Standard ) ( CC & ) ( NNP Poor ) ( POS 's ) ) ( NNP Corp ) ) ) )

Sources Lipper Analytical Services Inc. Standard & Poor 's Corp


( S ( NP-SBJ ( NP ( NNP Grand ) ( NNP Metropolitan ) ( NNP PLC ) ) ( NP ( NP ( DT the ) ( NNP United ) ( NNP Kingdom ) ( NN food ) ( CC and ) ( NN beverage ) ( NN group ) ) ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( VP ( VBZ owns ) ( NP ( NP ( NNP Pillsbury ) ( NNP Inc. ) ) ( PP ( IN of ) ( NP ( DT the ) ( NNP U.S. ) ) ) ) ) ) ) ) ) ( VP ( VBD announced ) ( NP ( NP ( DT a ) ( NN reshuffling ) ) ( PP ( IN of ) ( NP ( JJ board-level ) ( NN executive ) ( NNS duties ) ) ) ( VP ( VBN intended ) ( S ( VP ( TO to ) ( VP ( VB fit ) ( NP ( NP ( DT the ) ( NN company ) ( POS 's ) ) ( JJ recent ) ( NN expansion ) ) ) ) ) ) ) ) )

Grand Metropolitan PLC the United Kingdom food and beverage group that owns Pillsbury Inc. of the U.S. announced a reshuffling of board-level executive duties intended to fit the company 's recent expansion


( S ( NP-SBJ ( NP ( NNP David ) ( NNP Nash ) ) ( NP ( NP ( RB formerly ) ( NN group ) ( NN finance ) ( NN director ) ) ( PP-LOC ( IN at ) ( NP ( NNP Cadbury ) ( NNP Schweppes ) ( NNP PLC ) ) ) ) ) ( VP ( MD will ) ( VP ( VB become ) ( NP-PRD ( NP ( NNP Grand ) ( NNP Met ) ( POS 's ) ) ( JJ first ) ( NN group ) ( NN finance ) ( NN director ) ) ( PP-TMP ( IN in ) ( NP ( NNP January ) ) ) ) ) )

David Nash formerly group finance director at Cadbury Schweppes PLC will become Grand Met 's first group finance director in January


( S ( PP-LOC ( IN In ) ( NP ( DT a ) ( NN statement ) ) ) ( NP-SBJ ( NNP Grand ) ( NNP Met ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( PRP$ its ) ( JJ recent ) ( NX ( NX ( NN growth ) ) ( CC and ) ( NX ( JJR wider ) ( JJ geographic ) ( NN spread ) ) ) ) ( VP ( VBD made ) ( S ( NP-SBJ ( PRP it ) ) ( ADJP-PRD ( JJ necessary ) ( S ( VP ( TO to ) ( VP ( VB create ) ( NP ( DT the ) ( JJ new ) ( NN position ) ) ) ) ) ) ) ) ) ) ) )

In a statement Grand Met said its recent growth and wider geographic spread made it necessary to create the new position


( S ( NP-SBJ ( DT The ) ( NN company ) ) ( ADVP ( RB also ) ) ( VP ( VBD reassigned ) ( NP ( JJ several ) ( NN executive ) ( NNS responsibilities ) ) ) )

The company also reassigned several executive responsibilities


( S ( NP-SBJ-1 ( NP ( NNP David ) ( NNP Tagg ) ) ( PP ( ADVP-TMP ( RB formerly ) ) ( IN in ) ( NP ( NP ( NN charge ) ) ( PP ( IN of ) ( NP ( NN gambling ) ( NNS operations ) ) ) ) ) ) ( VP ( VBD was ) ( VP ( VBN appointed ) ( S ( NP-PRD ( NP ( JJ chief ) ( NN executive ) ) ( PP ( IN for ) ( NP ( NN retailing ) ( CC and ) ( NN property ) ) ) ) ) ) ) )

David Tagg formerly in charge of gambling operations was appointed chief executive for retailing and property


( S ( NP-SBJ ( NP ( NP ( NNP Peter ) ( NNP Cawdron ) ) ( NP ( NN group ) ( NN strategy ) ( NN development ) ( NN director ) ) ) ( CC and ) ( NP ( NP ( NNP Bill ) ( NNP Shardlow ) ) ( NP ( NN group ) ( NNS personnel ) ( NN director ) ) ) ) ( VP ( MD will ) ( VP ( VB become ) ( NP-PRD ( NP ( NN part ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( NN board ) ( POS 's ) ) ( NN management ) ( NN committee ) ) ) ) ) ) )

Peter Cawdron group strategy development director and Bill Shardlow group personnel director will become part of the board 's management committee


( S ( NP-SBJ ( NP ( NNP Translant ) ( NNP Inc. ) ) ( NP-LOC ( NP ( NNP Rancho ) ( NNP Cucamonga ) ) ( NP ( NNP Calif. ) ) ) ) ( VP ( VBD got ) ( NP ( NP ( DT an ) ( ADJP ( QP ( CD 86 ) ( CD million ) ) ) ( NNP Navy ) ( NN contract ) ) ( PP ( IN for ) ( NP ( JJ missile-launch ) ( NNS systems ) ) ) ) ) )

Translant Inc. Rancho Cucamonga Calif. got an 86 million Navy contract for missile-launch systems


( S ( NP-SBJ ( NNP General ) ( NNP Electric ) ( NNP Co. ) ) ( VP ( VBD received ) ( NP ( NP ( DT a ) ( ADJP ( QP ( CD 30.6 ) ( CD million ) ) ) ( NNP Air ) ( NNP Force ) ( NN contract ) ) ( PP ( IN for ) ( NP ( NN MX-missile ) ( NN nose ) ( NNS cones ) ) ) ) ) )

General Electric Co. received a 30.6 million Air Force contract for MX-missile nose cones


( S ( NP-SBJ-1 ( NNP Goodyear ) ( NNP Tire ) ( CC & ) ( NNP Rubber ) ( NNP Co. ) ) ( VP ( VBD was ) ( VP ( VBN awarded ) ( NP ( NP ( DT a ) ( ADJP ( QP ( CD 19.1 ) ( CD million ) ) ) ( NNP Army ) ( NN contract ) ) ( PP ( IN for ) ( NP ( JJ armored-vehicle ) ( NNS parts ) ) ) ) ) ) )

Goodyear Tire & Rubber Co. was awarded a 19.1 million Army contract for armored-vehicle parts


( S ( NP-SBJ-1 ( NNP Analytic ) ( NNPS Sciences ) ( NNP Corp. ) ) ( VP ( VBD was ) ( VP ( VBN awarded ) ( NP ( NP ( DT a ) ( ADJP ( QP ( CD 10.1 ) ( CD million ) ) ) ( NNP Air ) ( NNP Force ) ( NN contract ) ) ( PP ( IN for ) ( NP ( JJ technical ) ( NN support ) ) ) ) ) ) )

Analytic Sciences Corp. was awarded a 10.1 million Air Force contract for technical support


( S ( NP-SBJ ( NNP Falcon ) ( NNP Cable ) ( NNPS Systems ) ( NNP Co. ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBD proposed ) ( NP ( NP ( DT an ) ( NN amendment ) ) ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( VP ( MD would ) ( VP ( VB allow ) ( S ( NP-SBJ ( PRP it ) ) ( VP ( TO to ) ( VP ( VB increase ) ( NP ( PRP$ its ) ( NN debt ) ( NN cap ) ) ( PP-DIR ( TO to ) ( NP ( NP ( CD 65 ) ( NN % ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( NN company ) ( POS 's ) ) ( JJ fair ) ( NN market ) ( NN value ) ) ) ) ) ( PP-DIR ( IN from ) ( NP ( NP ( DT the ) ( CD 40 ) ( NN % ) ) ( VP ( ADVP-TMP ( RB currently ) ) ( VBN allowed ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Falcon Cable Systems Co. said it proposed an amendment that would allow it to increase its debt cap to 65 % of the company 's fair market value from the 40 % currently allowed


( S ( NP-SBJ ( NP ( NNP Falcon ) ) ( NP ( DT a ) ( JJ limited ) ( NN partnership ) ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ-1 ( PRP it ) ) ( VP ( VBD wanted ) ( NP ( DT the ) ( NN increase ) ) ( UCP-PRP ( SBAR ( IN in ) ( NN order ) ( S ( VP ( TO to ) ( VP ( VB continue ) ( NP ( PRP$ its ) ( ADJP ( JJ 2.15-per-unit ) ) ( JJ annual ) ( NN payment ) ) ) ) ) ) ( CC and ) ( PP ( IN for ) ( NP ( NN expansion ) ( CC and ) ( NNS acquisitions ) ) ) ) ) ) ) ) )

Falcon a limited partnership said it wanted the increase in order to continue its 2.15-per-unit annual payment and for expansion and acquisitions


( S ( NP-SBJ ( NP ( DT A ) ( NN spokesman ) ) ( PP ( IN for ) ( NP ( DT the ) ( NN company ) ) ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ-1 ( DT a ) ( NN meeting ) ) ( VP ( MD would ) ( VP ( VB be ) ( VP ( VBN held ) ( SBAR-PRP ( IN for ) ( S ( NP-SBJ ( NNS shareholders ) ) ( VP ( TO to ) ( VP ( VB vote ) ( PP-CLR ( IN on ) ( NP ( DT the ) ( NN amendment ) ) ) ( PP-TMP ( IN before ) ( NP ( NP ( NN year ) ( POS 's ) ) ( NN end ) ) ) ) ) ) ) ) ) ) ) ) ) )

A spokesman for the company said a meeting would be held for shareholders to vote on the amendment before year 's end


( S ( NP-SBJ ( NP ( DT A ) ( NN bill ) ) ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( VP ( MD would ) ( VP ( VB permit ) ( S ( NP-SBJ ( DT the ) ( NNPS Securities ) ( CC and ) ( NNP Exchange ) ( NNP Commission ) ) ( VP ( TO to ) ( VP ( VB monitor ) ( NP ( NP ( DT the ) ( JJ financial ) ( NN condition ) ) ( PP ( IN of ) ( NP ( NP ( NNS securities ) ( NNS firms ) ( POS ' ) ) ( VBG holding ) ( NNS companies ) ) ) ) ) ) ) ) ) ) ) ) ( VP ( VBZ is ) ( VP ( VBG facing ) ( NP ( NP ( JJ tough ) ( NN opposition ) ) ( PP ( IN from ) ( NP ( NP ( DT some ) ( NNP Wall ) ( NNP Street ) ( NNS firms ) ) ( SBAR ( WHNP-2 ( WDT which ) ) ( S ( VP ( VBP argue ) ( SBAR ( IN that ) ( S ( NP-SBJ ( DT the ) ( NN legislation ) ) ( VP ( VBZ is ) ( ADJP-PRD ( JJ unnecessary ) ) ) ) ) ) ) ) ) ) ) ) ) )

A bill that would permit the Securities and Exchange Commission to monitor the financial condition of securities firms ' holding companies is facing tough opposition from some Wall Street firms which argue that the legislation is unnecessary


( S ( NP-SBJ ( NP ( DT The ) ( NN legislation ) ) ( CC and ) ( NP ( NP ( JJ other ) ( NNS issues ) ) ( VP ( VBN related ) ( PP-CLR ( TO to ) ( NP ( DT the ) ( NN stock ) ( NN market ) ) ) ) ) ) ( VP ( MD will ) ( VP ( VB be ) ( NP-PRD ( NP ( DT the ) ( NN focus ) ) ( PP ( IN of ) ( NP ( NP ( NNS hearings ) ) ( NP-TMP ( DT this ) ( NN week ) ) ( PP ( IN by ) ( NP ( NP ( DT the ) ( NNP House ) ( NNPS Telecommunications ) ( CC and ) ( NNP Finance ) ( NNP Subcommittee ) ) ( CC and ) ( NP ( DT the ) ( NNP Senate ) ( NNPS Securities ) ( NNP Subcommittee ) ) ) ) ) ) ) ) ) )

The legislation and other issues related to the stock market will be the focus of hearings this week by the House Telecommunications and Finance Subcommittee and the Senate Securities Subcommittee


( S ( NP-SBJ ( NP ( NNP Richard ) ( NNP Breeden ) ) ( NP ( NP ( DT the ) ( JJ new ) ( NN chairman ) ) ( PP ( IN of ) ( NP ( DT the ) ( NNP SEC ) ) ) ) ) ( VP ( VBZ has ) ( RB n't ) ( VP ( VBN taken ) ( NP ( NP ( DT a ) ( JJ formal ) ( NN position ) ) ( PP ( IN on ) ( NP ( DT the ) ( NN bill ) ) ) ( SBAR ( WHNP-1 ( WDT which ) ) ( S ( VP ( MD would ) ( ADVP ( RB also ) ) ( VP ( VP ( VB require ) ( S ( NP-SBJ ( NNS investors ) ) ( VP ( TO to ) ( VP ( VB disclose ) ( NP ( JJ large ) ( NNS trades ) ) ) ) ) ) ( CC and ) ( VP ( VB give ) ( NP ( DT the ) ( NNP SEC ) ) ( NP ( JJ additional ) ( NN authority ) ) ( PP-TMP ( IN during ) ( NP ( NN market ) ( NNS emergencies ) ) ) ) ) ) ) ) ) ) ) )

Richard Breeden the new chairman of the SEC has n't taken a formal position on the bill which would also require investors to disclose large trades and give the SEC additional authority during market emergencies


( S ( ADVP ( RB However ) ) ( NP-SBJ ( PRP he ) ) ( ADVP-TMP ( RB recently ) ) ( VP ( VBD told ) ( NP ( DT the ) ( NNP Senate ) ( NNP Banking ) ( NNP Committee ) ) ( SBAR ( IN that ) ( S ( NP-SBJ ( PRP he ) ) ( VP ( VBZ believes ) ( SBAR ( S ( NP-SBJ-2 ( DT the ) ( NN agency ) ) ( VP ( MD should ) ( VP ( VB have ) ( NP ( JJ explicit ) ( NN authority ) ( S ( VP ( TO to ) ( VP ( VB monitor ) ( NP ( NN debt ) ( NNS levels ) ) ( PP-LOC ( IN at ) ( NP ( NP ( NP ( VBG holding ) ( NNS companies ) ) ( CC and ) ( NP ( NP ( NNS affiliates ) ) ( PP ( IN of ) ( NP ( NNS broker-dealers ) ) ) ) ) ( SBAR ( WHNP-1 ( WDT which ) ) ( S ( VP ( VBP are ) ( ADVP-TMP ( RB frequently ) ) ( VP ( VBN used ) ( S-CLR ( VP ( TO to ) ( VP ( VB issue ) ( NP ( JJ bridge ) ( NNS loans ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

However he recently told the Senate Banking Committee that he believes the agency should have explicit authority to monitor debt levels at holding companies and affiliates of broker-dealers which are frequently used to issue bridge loans


( S ( NP-SBJ-1 ( DT The ) ( JJ bridge ) ( NNS loans ) ) ( VP ( VBP are ) ( ADJP-PRD ( JJ intended ) ( S ( VP ( TO to ) ( VP ( VB provide ) ( NP ( JJ temporary ) ( NN financing ) ) ( PP-CLR ( IN for ) ( NP ( NNS acquisitions ) ) ) ) ) ) ) ) )

The bridge loans are intended to provide temporary financing for acquisitions


( S ( SBAR-PRP ( IN Since ) ( S ( NP-SBJ ( JJ such ) ( NNS loans ) ) ( VP ( VBP are ) ( ADVP-TMP ( RB often ) ) ( VP ( VBN refinanced ) ( PP-MNR ( IN through ) ( NP ( NP ( DT the ) ( NN sale ) ) ( PP ( IN of ) ( NP ( ADJP ( JJ high-risk ) ( JJ high-yield ) ) ( NN junk ) ( NNS bonds ) ) ) ) ) ) ) ) ) ( NP-SBJ ( NP ( DT the ) ( JJ recent ) ( NNS woes ) ) ( PP ( IN of ) ( NP ( DT the ) ( NN junk-bond ) ( NN market ) ) ) ) ( VP ( VBP have ) ( VP ( VBN renewed ) ( NP ( NP ( NNS concerns ) ) ( PP-LOC ( IN among ) ( NP ( NNS regulators ) ) ) ( PP ( IN about ) ( NP ( NP ( DT the ) ( NNS risks ) ) ( VP ( VBN associated ) ( PP-CLR ( IN with ) ( NP ( NP ( NNP Wall ) ( NNP Street ) ( NNS firms ) ) ( VP ( VBG issuing ) ( NP ( JJ bridge ) ( NNS loans ) ) ) ) ) ) ) ) ) ) ) )

Since such loans are often refinanced through the sale of high-risk high-yield junk bonds the recent woes of the junk-bond market have renewed concerns among regulators about the risks associated with Wall Street firms issuing bridge loans


( S ( CC But ) ( NP-SBJ ( DT some ) ( NNP Wall ) ( NNP Street ) ( NNS executives ) ) ( VP ( VBP argue ) ( SBAR ( IN that ) ( S ( NP-SBJ ( JJ such ) ( NNS fears ) ) ( VP ( VBP are ) ( ADJP-PRD ( JJ unwarranted ) ) ) ) ) ) )

But some Wall Street executives argue that such fears are unwarranted


( S ( PP-LOC ( IN In ) ( NP ( NP ( DT a ) ( NNP July ) ( CD 6 ) ( NN letter ) ) ( PP ( TO to ) ( NP ( DT the ) ( NNP Senate ) ( NNPS Securities ) ( NNP Subcommittee ) ) ) ) ) ( NP-SBJ ( NNP First ) ( NNP Boston ) ( NNP Corp. ) ) ( VP ( VBD argued ) ( SBAR ( IN that ) ( S ( NP-SBJ ( DT the ) ( NN fact ) ( SBAR ( IN that ) ( S ( NP-SBJ ( DT no ) ( JJ retail ) ( NN brokerage ) ( NN firm ) ) ( VP ( VBN failed ) ( PP-TMP ( IN during ) ( NP ( DT the ) ( CD 1987 ) ( NN market ) ( NN crash ) ) ) ) ) ) ) ( VP ( VBZ demonstrates ) ( SBAR ( IN that ) ( S ( NP-SBJ ( JJ current ) ( NNS rules ) ) ( VP ( VBP are ) ( ADJP-PRD ( JJ adequate ) ) ) ) ) ) ) ) ) )

In a July 6 letter to the Senate Securities Subcommittee First Boston Corp. argued that the fact that no retail brokerage firm failed during the 1987 market crash demonstrates that current rules are adequate


( S ( NP-SBJ ( NP ( NNP First ) ( NNP Boston ) ) ( SBAR ( WHNP-1 ( NP ( WP$ whose ) ( VBG holding ) ( NN company ) ) ( NP ( NNP CS ) ( NNP First ) ( NNP Boston ) ( NNP Group ) ) ) ( S ( VP ( VBZ is ) ( NP-PRD ( NP ( CD one ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( JJR larger ) ( NNS issuers ) ) ( PP ( IN of ) ( NP ( JJ bridge ) ( NNS loans ) ) ) ( PP-LOC ( IN on ) ( NP ( NNP Wall ) ( NNP Street ) ) ) ) ) ) ) ) ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBZ is ) ( ADVP ( RB also ) ) ( ADJP-PRD ( JJ concerned ) ( SBAR ( IN that ) ( S ( SBAR-TMP ( IN once ) ( S ( NP-SBJ-2 ( DT the ) ( NNP SEC ) ) ( VP ( VBZ has ) ( NP ( DT the ) ( NN power ) ( S ( VP ( TO to ) ( VP ( VB monitor ) ( NP ( VBG holding ) ( NNS companies ) ) ) ) ) ) ) ) ) ( NP-SBJ-3 ( PRP it ) ) ( VP ( MD will ) ( VP ( VB try ) ( S ( VP ( TO to ) ( VP ( VB regulate ) ( NP ( PRP$ their ) ( NNS activities ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

First Boston whose holding company CS First Boston Group is one of the larger issuers of bridge loans on Wall Street said it is also concerned that once the SEC has the power to monitor holding companies it will try to regulate their activities


( S ( S-TPC-4 ( NP-SBJ ( NP ( DT The ) ( NN proposal ) ) ( SBAR ( IN while ) ( FRAG ( ADJP ( JJ well-intended ) ) ) ) ) ( PRN ( S ( NP-SBJ ( PRP I ) ) ( VP ( VBP think ) ) ) ) ( VP ( MD can ) ( VP ( VB be ) ( ADJP-PRD ( RB dangerously ) ( JJ misleading ) ) ( SBAR-PRP ( IN because ) ( S ( NP-SBJ-3 ( DT the ) ( JJ likely ) ( NN consequence ) ) ( VP ( MD would ) ( VP ( VB be ) ( S-PRD ( VP ( TO to ) ( VP ( VP ( VB weaken ) ) ( CONJP ( RB rather ) ( IN than ) ) ( VP ( VB strengthen ) ) ( NP-1 ( NP ( DT the ) ( NN control ) ) ( SBAR ( S ( NP-SBJ ( DT the ) ( NNP SEC ) ) ( VP ( VBZ has ) ( VP ( VBN exercised ) ( PP-TMP ( IN for ) ( NP ( CD 50 ) ( NNS years ) ) ) ( PP-CLR ( IN over ) ( NP ( NP ( DT the ) ( JJ financial ) ( NN adequacy ) ( CC and ) ( NN viability ) ) ( PP ( IN of ) ( NP ( NNS broker-dealers ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ( NP-SBJ ( NP ( NNP Michael ) ( NNP Raoul-Duval ) ) ( NP ( NP ( VBG managing ) ( NN director ) ) ( PP ( IN of ) ( NP ( NNP First ) ( NNP Boston ) ) ) ) ) ( VP ( VBD said ) ( PP-LOC ( IN in ) ( NP ( DT an ) ( NN interview ) ) ) ) )

The proposal while well-intended I think can be dangerously misleading because the likely consequence would be to weaken rather than strengthen the control the SEC has exercised for 50 years over the financial adequacy and viability of broker-dealers Michael Raoul-Duval managing director of First Boston said in an interview


( S ( S-TPC-2 ( NP-SBJ ( DT The ) ( NN bill ) ) ( VP ( MD would ) ( VP ( VB divert ) ( NP ( NP ( JJ scarce ) ( NNS resources ) ) ( PP ( IN of ) ( NP ( DT the ) ( NN commission ) ) ) ) ( ADVP-CLR ( RB away ) ( PP ( IN from ) ( NP ( NNS broker-dealers ) ) ) ) ( PP-CLR ( IN into ) ( NP ( NP ( NNS areas ) ) ( SBAR ( WHNP-1 ( WDT which ) ) ( S ( ADVP ( RB simply ) ) ( VP ( VBP have ) ( NP ( NP ( DT no ) ( NN way ) ) ( PP ( IN of ) ( S-NOM ( VP ( VBG affecting ) ( NP ( NNS broker-dealers ) ) ) ) ) ) ) ) ) ) ) ) ) ) ( NP-SBJ ( NNP Mr. ) ( NNP Raoul-Duval ) ) ( VP ( VBD said ) ) )

The bill would divert scarce resources of the commission away from broker-dealers into areas which simply have no way of affecting broker-dealers Mr. Raoul-Duval said


( S ( NP-SBJ ( NP ( NNS Sources ) ) ( PP-LOC ( PP ( IN in ) ( NP ( DT the ) ( NN industry ) ) ) ( CC and ) ( PP ( IN on ) ( NP ( NNP Capitol ) ( NNP Hill ) ) ) ) ) ( VP ( VBP say ) ( SBAR ( S ( NP-SBJ ( NP ( DT a ) ( NN compromise ) ) ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( VP ( MD would ) ( VP ( VB placate ) ( NP ( DT the ) ( NN industry ) ) ( SBAR-ADV ( IN while ) ( S ( VP ( VBG addressing ) ( NP ( NP ( DT the ) ( NNP SEC ) ( POS 's ) ) ( NNS concerns ) ) ) ) ) ) ) ) ) ) ( VP ( MD may ) ( VP ( VB be ) ( ADJP-PRD ( JJ possible ) ) ) ) ) ) ) )

Sources in the industry and on Capitol Hill say a compromise that would placate the industry while addressing the SEC 's concerns may be possible


( S ( NP-SBJ ( NP ( DT An ) ( NN aide ) ) ( PP ( TO to ) ( NP ( DT the ) ( NNP Senate ) ( NNPS Securities ) ( NNP Subcommittee ) ) ) ) ( VP ( VP ( VBZ says ) ( SBAR ( S ( NP-SBJ ( DT some ) ( NNS legislators ) ) ( VP ( VBP support ) ( NP ( NP ( DT the ) ( NN concept ) ) ( PP ( IN of ) ( NP ( NN risk ) ( NN disclosure ) ) ) ) ) ) ) ) ( CC but ) ( VP ( VBZ adds ) ( S ( NP-SBJ-1 ( NN nobody ) ) ( VP ( VBZ is ) ( VP ( VBN wedded ) ( PP-CLR ( TO to ) ( NP ( NP ( DT the ) ( NN language ) ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( NN bill ) ) ) ) ) ) ) ) ) ) )

An aide to the Senate Securities Subcommittee says some legislators support the concept of risk disclosure but adds nobody is wedded to the language in the bill


( S ( NP-SBJ ( NP ( NNP Edward ) ( NNP O'Brien ) ) ( NP ( NP ( NN president ) ) ( PP ( IN of ) ( NP ( DT the ) ( NNPS Securities ) ( NNP Industry ) ( NNP Association ) ) ) ) ) ( VP ( VBD said ) ( SBAR ( SBAR ( IN that ) ( S ( NP-SBJ ( DT the ) ( NN securities-industry ) ( NN trade ) ( NN group ) ) ( VP ( VBZ opposes ) ( NP ( NP ( DT the ) ( NN bill ) ) ( SBAR ( IN as ) ( S ( NP-SBJ-1 ( PRP it ) ) ( VP ( VBZ is ) ( VP ( VBN written ) ) ) ) ) ) ) ) ) ( CC but ) ( SBAR ( IN that ) ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBZ is ) ( ADJP-PRD ( JJ hopeful ) ( SBAR ( S ( NP-SBJ-2 ( DT a ) ( NN compromise ) ) ( VP ( MD can ) ( VP ( VB be ) ( VP ( VBN reached ) ( S-CLR ( VP ( TO to ) ( VP ( VB achieve ) ( NP ( NP ( DT the ) ( NNP SEC ) ( POS 's ) ) ( NNS goals ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Edward O'Brien president of the Securities Industry Association said that the securities-industry trade group opposes the bill as it is written but that it is hopeful a compromise can be reached to achieve the SEC 's goals


( S ( S-TPC-1 ( NP-SBJ ( NNP Mr. ) ( NNP O'Brien ) ) ( VP ( MD will ) ( VP ( VB elaborate ) ( PP-CLR ( IN on ) ( NP ( NP ( DT the ) ( NNP SIA ) ( POS 's ) ) ( NN position ) ) ) ( PP-LOC ( IN in ) ( NP ( NP ( NN testimony ) ) ( PP-LOC ( IN before ) ( NP ( DT the ) ( NNP House ) ( NNPS Telecommunications ) ( CC and ) ( NNP Finance ) ( NNP Subcommittee ) ) ) ) ) ( NP-TMP ( DT this ) ( NN week ) ) ) ) ) ( NP-SBJ ( DT a ) ( NN spokesman ) ) ( VP ( VBD said ) ) )

Mr. O'Brien will elaborate on the SIA 's position in testimony before the House Telecommunications and Finance Subcommittee this week a spokesman said


( S ( NP-SBJ ( NP ( NNP Home ) ( NNP Beneficial ) ( NNP Corp. ) ) ( NP ( NP ( NNP Richmond ) ) ( NP ( NNP Va. ) ) ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ-2 ( PRP it ) ) ( VP ( VBD contracted ) ( S ( VP ( TO to ) ( VP ( VB sell ) ( NP ( NP ( PRP$ its ) ( ADJP ( CD 50 ) ( NN % ) ) ( NN interest ) ) ( PP-LOC ( IN in ) ( NP ( DT a ) ( JJ Richmond-area ) ( NN shopping ) ( NN mall ) ) ) ) ( PP-DTV ( TO to ) ( NP ( NP ( DT a ) ( NN buyer ) ) ( SBAR ( WHNP-1 ( DT that ) ) ( S ( VP ( VBD was ) ( RB n't ) ( VP ( VBN identified ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Home Beneficial Corp. Richmond Va. said it contracted to sell its 50 % interest in a Richmond-area shopping mall to a buyer that was n't identified


( S ( NP-SBJ ( DT The ) ( NN life-insurance ) ( NN holding ) ( NN company ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( DT the ) ( NN sale ) ) ( VP ( MD would ) ( VP ( VB result ) ( PP-CLR ( IN in ) ( NP ( NP ( DT an ) ( JJ after-tax ) ( NN gain ) ) ( PP ( IN of ) ( NP ( NP ( QP ( IN about ) ( CD 32 ) ( CD million ) ) ) ( CC or ) ( NP ( NP ( CD 3.09 ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ) ) ) ( PP-TMP ( IN in ) ( NP ( NP ( DT the ) ( JJ first ) ( NN quarter ) ) ( PP ( IN of ) ) ) ) ) ) ) ) ) )

The life-insurance holding company said the sale would result in an after-tax gain of about 32 million or 3.09 a share in the first quarter of


( S ( NP-SBJ ( DT The ) ( NN company ) ) ( ADVP ( RB also ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( PRP it ) ) ( VP ( MD will ) ( VP ( VB adopt ) ( NP ( JJ new ) ( NN accounting ) ( NNS standards ) ) ( PP-TMP ( IN in ) ( NP ( DT the ) ( JJ first ) ( NN quarter ) ) ) ) ) ) ) ) )

The company also said it will adopt new accounting standards in the first quarter


( S ( NP-SBJ ( DT The ) ( NN change ) ) ( VP ( MD will ) ( VP ( VB result ) ( PP-CLR ( IN in ) ( NP ( NP ( DT a ) ( NN charge ) ) ( PP ( IN of ) ( NP ( NP ( QP ( IN about ) ( CD 8.5 ) ( CD million ) ) ) ( CC or ) ( NP ( NP ( CD 82 ) ( NNS cents ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ) ) ) ( PP-PRP ( IN because ) ( IN of ) ( NP ( NP ( DT an ) ( NN increase ) ) ( PP-LOC ( IN in ) ( NP ( JJ deferred ) ( NN income-tax ) ( NN liability ) ) ) ) ) ) ) )

The change will result in a charge of about 8.5 million or 82 cents a share because of an increase in deferred income-tax liability


( S ( PP-TMP ( IN In ) ( NP ( NP ( DT the ) ( JJ first ) ( NN quarter ) ) ( PP ( IN of ) ( NP ( CD 1988 ) ) ) ) ) ( NP-SBJ ( DT the ) ( NN company ) ) ( VP ( VBN earned ) ( NP ( NP ( QP ( CD 10 ) ( CD million ) ) ) ( CC or ) ( NP ( NP ( CD 94 ) ( NNS cents ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ) )

In the first quarter of 1988 the company earned 10 million or 94 cents a share


( S ( SBAR-ADV ( WHADVP-1 ( WRB When ) ) ( S ( NP-SBJ ( DT the ) ( NNP Supreme ) ( NNP Court ) ) ( VP ( VBD upheld ) ( NP ( NP ( NNP Missouri ) ( POS 's ) ) ( NN abortion ) ( NNS restrictions ) ) ( NP-TMP ( JJ last ) ( NNP July ) ) ) ) ) ( NP-SBJ ( DT the ) ( NNS justices ) ) ( ADVP ( RB almost ) ( RB certainly ) ) ( VP ( VBD did ) ( RB n't ) ( VP ( VB have ) ( NP ( NP ( JJ drunk ) ( NN driving ) ) ( NP ( NN trespassing ) ) ( CC and ) ( NP ( JJ false ) ( NN imprisonment ) ) ) ( PP-CLR ( IN on ) ( NP ( PRP$ their ) ( NNS minds ) ) ) ) ) )

When the Supreme Court upheld Missouri 's abortion restrictions last July the justices almost certainly did n't have drunk driving trespassing and false imprisonment on their minds


( S ( CC But ) ( NP-SBJ ( DT the ) ( JJ 5-4 ) ( NN ruling ) ) ( VP ( MD may ) ( VP ( VB have ) ( VP ( VBN had ) ( NP ( NP ( RB as ) ( JJ much ) ( JJ immediate ) ( NN impact ) ) ( PP ( IN on ) ( NP ( NP ( DT those ) ( NNS activities ) ) ( PRN ( NP ( RB especially ) ( NN trespassing ) ) ) ) ) ( PP ( IN as ) ( PP ( IN on ) ( NP ( NN abortion ) ( NNS rights ) ) ) ) ) ) ) ) )

But the 5-4 ruling may have had as much immediate impact on those activities especially trespassing as on abortion rights


( S ( NP-SBJ ( NP ( DT The ) ( NN decision ) ) ( NP ( NNP Webster ) ( FW vs. ) ( NNP Reproductive ) ( NNP Health ) ( NNPS Services ) ) ) ( VP ( VBZ illustrates ) ( SBAR ( WHADVP-3 ( WRB how ) ) ( S ( NP-SBJ ( NNP Supreme ) ( NNP Court ) ( NNS rulings ) ) ( ADVP-TMP ( RB often ) ) ( VP ( VBP have ) ( NP ( DT a ) ( JJ ripple ) ( NN effect ) ) ( S-ADV ( VP ( VBG spreading ) ( PP-DIR ( IN into ) ( NP ( NP ( NNS areas ) ) ( PP ( IN of ) ( NP ( NN law ) ( CC and ) ( NN policy ) ) ) ( SBAR ( SBAR ( WHNP-2 ( WDT that ) ) ( S ( VP ( VBD were ) ( RB n't ) ( NP-PRD ( NP ( NN part ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( JJ actual ) ( NNS cases ) ) ( VP ( VBN decided ) ) ) ) ) ) ) ) ( CC and ) ( SBAR ( WHNP-4 ( IN that ) ) ( S ( ADVP-TMP ( RB never ) ) ( VP ( VBD were ) ( VP ( VBN contemplated ) ( PP ( IN by ) ( NP-LGS ( DT the ) ( NNS justices ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

The decision Webster vs. Reproductive Health Services illustrates how Supreme Court rulings often have a ripple effect spreading into areas of law and policy that were n't part of the actual cases decided and that never were contemplated by the justices


( S ( PP-LOC ( IN In ) ( NP ( DT the ) ( NNP Missouri ) ( NN case ) ) ) ( NP-SBJ ( JJ unforeseen ) ( NNS consequences ) ) ( VP ( MD may ) ( VP ( VB have ) ( VP ( VBN arisen ) ( SBAR-PRP ( IN because ) ( S ( NP-SBJ ( DT the ) ( JJ high ) ( NN court ) ) ( VP ( VBD reinstated ) ( NP ( NP ( DT the ) ( NN preamble ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( NN state ) ( POS 's ) ) ( CD 1986 ) ( NN abortion ) ( NN law ) ) ) ) ) ) ) ) ) ) )

In the Missouri case unforeseen consequences may have arisen because the high court reinstated the preamble of the state 's 1986 abortion law


( S ( NP-SBJ ( DT The ) ( NN preamble ) ) ( VP ( VBZ says ) ( SBAR ( SBAR ( IN that ) ( S ( NP-SBJ ( JJ human ) ( NN life ) ) ( VP ( VBZ begins ) ( PP-TMP-CLR ( IN at ) ( NP ( NN conception ) ) ) ) ) ) ( CC and ) ( SBAR ( IN that ) ( S ( NP-SBJ ( JJ unborn ) ( NNS children ) ) ( VP ( VBP have ) ( NP ( NP ( NNS rights ) ) ( VP ( VBN protected ) ( PP ( IN by ) ( NP-LGS ( DT the ) ( NNP Constitution ) ) ) ) ) ) ) ) ) ) )

The preamble says that human life begins at conception and that unborn children have rights protected by the Constitution


( S ( NP-TMP ( JJ Last ) ( NN year ) ) ( NP-SBJ-1 ( NP ( DT a ) ( JJ federal ) ( NNS appeals ) ( NN court ) ) ( PP-LOC ( IN in ) ( NP ( NNP St. ) ( NNP Louis ) ) ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( DT the ) ( NN preamble ) ) ( VP ( VBD was ) ( ADJP-PRD ( JJ unconstitutional ) ) ) ) ) ( S-ADV ( VP ( VBG citing ) ( NP ( NP ( DT an ) ( JJR earlier ) ( NNP Supreme ) ( NNP Court ) ( NN ruling ) ) ( SBAR ( IN that ) ( S ( NP-SBJ ( NNS states ) ) ( VP ( MD ca ) ( RB n't ) ( VP ( VB justify ) ( NP ( JJR stricter ) ( NN abortion ) ( NNS curbs ) ) ( PP ( IN by ) ( S-NOM ( VP ( VBG changing ) ( NP ( NP ( DT the ) ( NN definition ) ) ( PP ( IN of ) ( SBAR-NOM ( WHADVP-2 ( WRB when ) ) ( S ( NP-SBJ ( NN life ) ) ( VP ( VBZ begins ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Last year a federal appeals court in St. Louis said the preamble was unconstitutional citing an earlier Supreme Court ruling that states ca n't justify stricter abortion curbs by changing the definition of when life begins


( S ( CC But ) ( NP-SBJ ( DT the ) ( NNP Supreme ) ( NNP Court ) ) ( VP ( VBD concluded ) ( SBAR ( IN that ) ( S ( NP-SBJ ( NP ( PRP it ) ) ) ( VP ( VBD was ) ( ADJP-PRD ( JJ premature ) ) ( S-1 ( VP ( TO to ) ( VP ( VB rule ) ( PP-CLR ( IN on ) ( NP ( NP ( DT the ) ( NN constitutionality ) ) ( PP ( IN of ) ( NP ( DT the ) ( NN preamble ) ) ) ) ) ) ) ) ( SBAR-PRP ( IN because ) ( S ( NP-SBJ-2 ( NP ( DT the ) ( NN definition ) ) ( PP ( IN of ) ( NP ( JJ human ) ( NN life ) ) ) ) ( VP ( VBD had ) ( RB n't ) ( ADVP-TMP ( RB yet ) ) ( VP ( VBN been ) ( VP ( VBN used ) ( S-CLR ( VP ( TO to ) ( VP ( VB restrict ) ( NP ( NN abortion ) ( NNS services ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

But the Supreme Court concluded that it was premature to rule on the constitutionality of the preamble because the definition of human life had n't yet been used to restrict abortion services


( S ( NP-SBJ ( DT The ) ( JJ high ) ( NN court ) ( NN majority ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( NP ( PRP it ) ) ) ( VP ( VBD was ) ( PP-PRD ( IN up ) ( PP ( TO to ) ( NP ( DT the ) ( NN state ) ( NNS courts ) ) ) ) ( PP-TMP ( IN for ) ( NP ( RB now ) ) ) ( S-1 ( VP ( TO to ) ( VP ( VB decide ) ( SBAR-NOM ( IN whether ) ( S ( NP-SBJ ( DT the ) ( NN definition ) ) ( VP ( VBZ has ) ( NP ( NP ( DT any ) ( NN bearing ) ) ( PP ( IN on ) ( NP ( JJ other ) ( NN state ) ( NNS laws ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

The high court majority said it was up to the state courts for now to decide whether the definition has any bearing on other state laws


( S ( ADVP-TMP ( RB Already ) ) ( NP-SBJ ( JJ local ) ( NNP Missouri ) ( NNS judges ) ) ( VP ( VBP have ) ( VP ( VBN relied ) ( PP-CLR ( IN on ) ( NP ( DT the ) ( VBN restored ) ( NN preamble ) ) ) ( PP-LOC ( IN in ) ( NP ( CD two ) ( JJ separate ) ( NNS cases ) ) ) ( S-PRP ( VP ( TO to ) ( VP ( VB throw ) ( PRT ( RP out ) ) ( NP ( NP ( JJ criminal ) ( NN trespass ) ( NNS charges ) ) ( PP ( IN against ) ( NP ( NP ( JJ anti-abortion ) ( NNS demonstrators ) ) ( SBAR ( WHNP-1 ( WP who ) ) ( S ( VP ( VBD blocked ) ( NP ( NP ( NN access ) ) ( PP ( TO to ) ( NP ( NP ( NNP Reproductive ) ( NNP Health ) ( NNPS Services ) ) ( NP ( NP ( DT an ) ( NN abortion ) ( NN clinic ) ) ( PP-LOC ( IN in ) ( NP ( NNP St. ) ( NNP Louis ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Already local Missouri judges have relied on the restored preamble in two separate cases to throw out criminal trespass charges against anti-abortion demonstrators who blocked access to Reproductive Health Services an abortion clinic in St. Louis


( S ( NP-SBJ ( DT The ) ( NNS protesters ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( PRP$ their ) ( NNS actions ) ) ( VP ( VBD were ) ( ADJP-PRD ( JJ justified ) ( PP ( IN by ) ( NP ( DT the ) ( NN desire ) ( S ( VP ( TO to ) ( VP ( VB save ) ( NP ( NP ( DT the ) ( NNS lives ) ) ( PP ( IN of ) ( NP ( JJ unborn ) ( NNS children ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

The protesters said their actions were justified by the desire to save the lives of unborn children


( S ( PP-LOC ( IN Under ) ( NP ( DT a ) ( CD 1981 ) ( NNP Missouri ) ( NN law ) ) ) ( NP-SBJ ( NP ( NNS persons ) ) ( VP ( VBN accused ) ( PP-CLR ( IN of ) ( NP ( NP ( DT some ) ( NNS crimes ) ) ( PP ( VBG including ) ( NP ( NN trespassing ) ) ) ) ) ) ) ( VP ( MD may ) ( VP ( VB offer ) ( NP ( DT a ) ( NN defense ) ( SBAR ( IN that ) ( S ( NP-SBJ ( PRP$ their ) ( NNS actions ) ) ( VP ( VBD were ) ( ADJP-PRD ( JJ justified ) ( PP ( IN as ) ( NP ( NP ( DT an ) ( NN emergency ) ( NN measure ) ) ( SBAR ( S ( VP ( TO to ) ( VP ( VB avoid ) ( NP ( DT an ) ( JJ imminent ) ( ADJP ( NN public ) ( CC or ) ( JJ private ) ) ( NN injury ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Under a 1981 Missouri law persons accused of some crimes including trespassing may offer a defense that their actions were justified as an emergency measure to avoid an imminent public or private injury


( S ( S-ADV ( VP ( VBG Relying ) ( PP-CLR ( IN on ) ( NP ( NP ( DT the ) ( NN preamble ) ( POS 's ) ) ( NN statement ) ( SBAR ( IN that ) ( S ( NP-SBJ ( DT a ) ( NN fetus ) ) ( VP ( VBZ is ) ( NP-PRD ( DT an ) ( JJ unborn ) ( NN child ) ) ) ) ) ) ) ) ) ( NP-SBJ ( DT the ) ( CD two ) ( NNP St. ) ( NNP Louis ) ( NNP County ) ( NNP Circuit ) ( NNP Court ) ( NNS judges ) ) ( PP-TMP ( IN in ) ( NP ( NNP August ) ) ) ( VP ( VBD accepted ) ( NP ( DT the ) ( NN justification ) ( SBAR ( IN that ) ( S ( NP-SBJ-1 ( DT the ) ( NN abortion ) ( NN clinic ) ( NNS protesters ) ) ( VP ( VBD were ) ( VP ( VBG trying ) ( S ( VP ( TO to ) ( VP ( VB save ) ( NP ( NNS lives ) ) ) ) ) ) ) ) ) ) ) )

Relying on the preamble 's statement that a fetus is an unborn child the two St. Louis County Circuit Court judges in August accepted the justification that the abortion clinic protesters were trying to save lives


( S ( PP-LOC ( IN In ) ( NP ( DT another ) ( NN case ) ) ) ( NP-SBJ-1 ( NP ( DT a ) ( NN protester ) ) ( NP ( NNP Ann ) ( NNP O'Brien ) ) ) ( VP ( VBD was ) ( VP ( VBN convicted ) ( PP-CLR ( IN of ) ( NP ( NN trespass ) ) ) ( PP-TMP ( IN before ) ( NP ( NP ( DT the ) ( NNP Supreme ) ( NNP Court ) ( POS 's ) ) ( NNP Webster ) ( NN ruling ) ) ) ) ) )

In another case a protester Ann O'Brien was convicted of trespass before the Supreme Court 's Webster ruling


( S ( NP-TMP ( JJ Last ) ( NN week ) ) ( SBAR-ADV ( WHADVP-2 ( WRB when ) ) ( S ( NP-SBJ-1 ( PRP$ her ) ( NN appeal ) ) ( VP ( VBD was ) ( VP ( VBN argued ) ( PP-LOC ( IN before ) ( NP ( NP ( DT the ) ( NNP Missouri ) ( NNP Court ) ) ( PP ( IN of ) ( NP ( NNPS Appeals ) ) ) ) ) ) ) ) ) ( NP-SBJ ( PRP$ her ) ( NN lawyer ) ) ( VP ( ADVP ( RB also ) ) ( VB relied ) ( PP-CLR ( IN on ) ( NP ( DT the ) ( NN preamble ) ) ) ) )

Last week when her appeal was argued before the Missouri Court of Appeals her lawyer also relied on the preamble


( SINV ( S-TPC-2 ( S ( NP-SBJ ( NP ( DT The ) ( NN effect ) ) ( PP ( IN of ) ( NP ( DT the ) ( NNP Supreme ) ( NNP Court ) ( NNP Webster ) ( NN opinion ) ) ) ) ( VP ( VBZ is ) ( SBAR-PRD ( IN that ) ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBD left ) ( NP ( NP ( NN room ) ) ( SBAR ( IN for ) ( S ( NP-SBJ ( NN grass ) ) ( VP ( TO to ) ( VP ( VB grow ) ( PP-LOC ( IN in ) ( NP ( NP ( DT the ) ( NNS cracks ) ) ( PP ( IN of ) ( NP ( NNP Roe ) ( FW vs. ) ( NNP Wade ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ( CC and ) ( S ( NP-SBJ ( PRP I ) ) ( VP ( VBP think ) ( SBAR ( S ( NP-SBJ ( DT this ) ) ( VP ( VBZ is ) ( NP-PRD ( NP ( CD one ) ) ( PP ( IN of ) ( NP ( DT the ) ( NNS cracks ) ) ) ) ) ) ) ) ) ) ( VP ( VBD said ) ) ( NP-SBJ ( NP ( NNP Mark ) ( NNP Belz ) ) ( NP ( NP ( DT a ) ( NNP St. ) ( NNP Louis ) ( NN lawyer ) ) ( SBAR ( WHNP-1 ( WP who ) ) ( S ( VP ( VBD represented ) ( NP ( NP ( NNP Ms. ) ( NNP O'Brien ) ) ( CC and ) ( NP ( DT the ) ( JJ other ) ( NNP St. ) ( NNP Louis ) ( NNS protesters ) ) ) ) ) ) ) ) )

The effect of the Supreme Court Webster opinion is that it left room for grass to grow in the cracks of Roe vs. Wade and I think this is one of the cracks said Mark Belz a St. Louis lawyer who represented Ms. O'Brien and the other St. Louis protesters


( S ( NP-SBJ ( NNP Roe ) ( FW vs. ) ( NNP Wade ) ) ( VP ( VBD was ) ( NP-PRD ( NP ( NP ( DT the ) ( NNP Supreme ) ( NNP Court ) ( POS 's ) ) ( CD 1973 ) ( NN decision ) ) ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( VP ( VBD recognized ) ( NP ( NP ( NP ( DT a ) ( NN woman ) ( POS 's ) ) ( NN right ) ) ( PP ( TO to ) ( NP ( NN abortion ) ) ) ) ) ) ) ) ) )

Roe vs. Wade was the Supreme Court 's 1973 decision that recognized a woman 's right to abortion


( S ( NP-SBJ ( NP ( NNP Mario ) ( NNP Mandina ) ) ( NP ( NP ( NN president ) ) ( PP ( IN of ) ( NP ( NP ( NNP Kansas ) ( NNP City ) ( NNPS Lawyers ) ) ( PP ( IN for ) ( NP ( NNP Life ) ) ) ) ) ) ) ( VP ( VBZ says ) ( SBAR ( IN that ) ( SBAR ( S ( SBAR-ADV ( IN if ) ( S ( NP-SBJ-1 ( NN abortion ) ( NNS foes ) ) ( VP ( VBP succeed ) ( PP ( IN in ) ( S-NOM ( VP ( VBG using ) ( NP-2 ( DT the ) ( NN preamble ) ) ( S-CLR ( VP ( TO to ) ( VP ( VB escape ) ( NP ( NP ( NN prosecution ) ) ( PP ( IN for ) ( NP ( NN trespass ) ) ) ) ) ) ) ) ) ) ) ) ) ( NP-SBJ ( DT This ) ) ( VP ( MD will ) ( VP ( VB shut ) ( PRT ( RP down ) ) ( NP ( NN abortion ) ) ( PP-LOC ( IN in ) ( NP ( NNP Missouri ) ) ) ) ) ) ) ) ) )

Mario Mandina president of Kansas City Lawyers for Life says that if abortion foes succeed in using the preamble to escape prosecution for trespass This will shut down abortion in Missouri


( S ( S ( NP-SBJ ( EX There ) ) ( VP ( VBZ 's ) ( NP-PRD ( NP ( DT no ) ( NN risk ) ) ( PP ( TO to ) ( NP ( DT the ) ( NNS protesters ) ) ) ) ) ) ( CC and ) ( S ( NP-SBJ ( PRP you ) ) ( VP ( MD ca ) ( RB n't ) ( VP ( VB keep ) ( S ( NP-SBJ ( DT an ) ( NN abortion ) ( NN clinic ) ) ( ADVP-PRD ( JJ open ) ) ) ( SBAR-ADV ( IN if ) ( S ( NP-SBJ ( EX there ) ) ( VP ( VBP are ) ( NP-PRD ( NP ( CD 3,000 ) ( NNS people ) ) ( VP ( VBG standing ) ( ADVP-LOC ( IN outside ) ) ( NP-TMP ( DT every ) ( NN day ) ) ) ) ) ) ) ) ) ) )

There 's no risk to the protesters and you ca n't keep an abortion clinic open if there are 3,000 people standing outside every day


( S ( NP-SBJ ( DT That ) ) ( VP ( MD would ) ( VP ( VB be ) ( NP-PRD ( NP ( DT an ) ( JJ ironic ) ( NN result ) ) ( PP ( IN of ) ( NP ( NP ( DT a ) ( NN case ) ) ( SBAR ( WHPP-1 ( IN in ) ( WHNP ( WDT which ) ) ) ( S ( NP-SBJ-2 ( DT the ) ( NNP Supreme ) ( NNP Court ) ) ( VP ( ADVP-MNR ( RB expressly ) ) ( VBD stopped ) ( ADVP-CLR ( RB short ) ) ( PP-CLR ( IN of ) ( S-NOM ( VP ( VBG overruling ) ( NP ( NNP Roe ) ( FW vs. ) ( NNP Wade ) ) ) ) ) ) ) ) ) ) ) ) ) )

That would be an ironic result of a case in which the Supreme Court expressly stopped short of overruling Roe vs. Wade


( S ( PP-LOC ( IN In ) ( NP ( CD two ) ( JJ other ) ( NNS cases ) ) ) ( NP-SBJ ( NP ( DT the ) ( JJ possible ) ( NNS consequences ) ) ( PP ( IN of ) ( NP ( DT the ) ( NNP Supreme ) ( NNP Court ) ( NN ruling ) ) ) ) ( VP ( VBP appear ) ( ADJP-PRD ( RB even ) ( RBR more ) ( JJ unintended ) ) ) )

In two other cases the possible consequences of the Supreme Court ruling appear even more unintended


( S ( PP-LOC ( IN In ) ( NP ( CD one ) ) ) ( NP-SBJ ( NP ( DT the ) ( NN lawyer ) ) ( PP ( IN for ) ( NP ( NP ( DT a ) ( JJ 20-year-old ) ( NN resident ) ) ( PP ( IN of ) ( NP ( NP ( NNP Columbia ) ) ( NP ( NNP Mo. ) ) ) ) ( SBAR ( WHNP-4 ( WP who ) ) ( S ( VP ( VBD was ) ( VP ( VBN charged ) ( PP-CLR ( IN with ) ( NP ( JJ drunk ) ( NN driving ) ) ) ) ) ) ) ) ) ) ( VP ( VBD argued ) ( SBAR ( DT that ) ( S ( NP-SBJ-2 ( PRP$ his ) ( NN client ) ) ( VP ( MD should ) ( VP ( VB be ) ( VP ( VBN treated ) ( PP-CLR ( IN as ) ( NP ( DT a ) ( JJ 21-year-old ) ( NN adult ) ) ) ( SBAR-PRP ( IN because ) ( S ( NP-SBJ-3 ( PRP$ his ) ( JJ actual ) ( NN age ) ) ( VP ( MD should ) ( VP ( VB be ) ( VP ( VBN calculated ) ( PP ( PP ( IN from ) ( NP ( NN conception ) ) ) ( RB not ) ( PP ( IN from ) ( NP ( NN birth ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

In one the lawyer for a 20-year-old resident of Columbia Mo. who was charged with drunk driving argued that his client should be treated as a 21-year-old adult because his actual age should be calculated from conception not from birth


( S ( PP-LOC ( IN In ) ( NP ( NNP Missouri ) ) ) ( NP-SBJ ( NP ( DT those ) ) ( VP ( VBN caught ) ( S ( VP ( NN drinking ) ( CC and ) ( NN driving ) ) ) ( PP ( IN between ) ( NP ( NP ( DT the ) ( NNS ages ) ) ( PP ( IN of ) ( NP ( CD 16 ) ( CC and ) ( CD 21 ) ) ) ) ) ) ) ( VP ( MD may ) ( VP ( VB have ) ( S ( NP-SBJ ( PRP$ their ) ( NNS licenses ) ) ( VP ( VBN revoked ) ( PP-TMP ( IN for ) ( NP ( CD one ) ( NN year ) ) ) ) ) ( SBAR-ADV ( IN while ) ( S ( NP-SBJ ( NP ( DT those ) ) ( UCP ( NP ( CD 21 ) ) ( CC or ) ( ADJP ( JJR older ) ) ) ) ( VP ( VBP suffer ) ( NP ( RB only ) ( DT a ) ( JJ 30-day ) ( NN suspension ) ) ) ) ) ) ) )

In Missouri those caught drinking and driving between the ages of 16 and 21 may have their licenses revoked for one year while those 21 or older suffer only a 30-day suspension


( S ( S ( NP-SBJ ( DT A ) ( NNP Boone ) ( NNP County ) ( NN judge ) ) ( VP ( VBD rejected ) ( NP ( DT the ) ( NN motion ) ) ) ) ( CC but ) ( S ( NP-SBJ ( NP ( NNP Daniel ) ( NNP Dodson ) ) ( NP ( DT a ) ( NNP Jefferson ) ( NNP City ) ( NN lawyer ) ) ) ( VP ( VBZ says ) ( SBAR ( S ( NP-SBJ ( PRP he ) ) ( VP ( VBZ has ) ( VP ( VBN appealed ) ) ) ) ) ) ) )

A Boone County judge rejected the motion but Daniel Dodson a Jefferson City lawyer says he has appealed


( S ( CC And ) ( PP-LOC ( IN in ) ( NP ( NP ( DT a ) ( NN case ) ) ( VP ( VBN filed ) ( PP-LOC ( IN in ) ( NP ( JJ federal ) ( NN court ) ) ) ( PP-TMP ( IN in ) ( NP ( NNP August ) ) ) ) ) ) ( NP-SBJ ( DT a ) ( NN lawyer ) ) ( VP ( VBZ is ) ( VP ( VBG arguing ) ( SBAR ( IN that ) ( S ( NP-SBJ ( NNP Missouri ) ( NNS authorities ) ) ( VP ( VBP are ) ( VP ( ADVP ( RB wrongfully ) ) ( VBG imprisoning ) ( NP ( NP ( DT the ) ( NN fetus ) ) ( PP ( IN of ) ( NP ( NP ( DT a ) ( JJ pregnant ) ( NN woman ) ) ( SBAR ( WHNP-1 ( WP who ) ) ( S ( VP ( VBZ is ) ( PP-LOC-PRD ( IN in ) ( NP ( NN jail ) ) ) ( PP ( IN for ) ( NP ( NN theft ) ( CC and ) ( NN forgery ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

And in a case filed in federal court in August a lawyer is arguing that Missouri authorities are wrongfully imprisoning the fetus of a pregnant woman who is in jail for theft and forgery


( S ( S ( VP ( VB Move ) ( ADVP-DIR ( RB over ) ) ( NP-VOC ( JJ pornographic ) ( NN phone ) ( NNS services ) ) ) ) ( S ( NP-SBJ-1 ( NP ( DT A ) ( JJ legal ) ( NN service ) ) ( PP ( IN with ) ( NP ( DT a ) ( CD 900 ) ( NN number ) ) ) ) ( VP ( VBZ has ) ( VP ( VBN been ) ( VP ( VBN launched ) ( PP-LOC ( IN in ) ( NP ( NNP California ) ) ) ) ) ) ) )

Move over pornographic phone services A legal service with a 900 number has been launched in California


( S ( NP-SBJ-1 ( DT A ) ( NNP Newport ) ( NNP Beach ) ( NN law ) ( NN firm ) ) ( VP ( VBD started ) ( NP ( NP ( DT the ) ( JJ pay-as-you-go ) ( JJ legal ) ( NN service ) ) ( VP ( VBN called ) ( S ( NP-PRD ( NNP Telelawyer ) ) ) ) ) ( S-ADV ( VP ( VBG using ) ( NP ( NP ( NNP MCI ) ( NNP Communication ) ( NNP Corp. ) ( POS 's ) ) ( JJ toll-tele-phone ) ( NN service ) ) ) ) ) )

A Newport Beach law firm started the pay-as-you-go legal service called Telelawyer using MCI Communication Corp. 's toll-tele-phone service


( S ( NP-SBJ ( NNP Cane ) ( CC & ) ( NNPS Associates ) ) ( VP ( VBZ touts ) ( NP ( PRP$ its ) ( ADJP ( JJ 2-a-minute ) ) ( NN service ) ) ( PP-CLR ( IN as ) ( NP ( NP ( DT the ) ( JJS cheapest ) ( JJ legal ) ( NN hour ) ) ( SBAR ( S ( NP-SBJ ( PRP you ) ) ( VP ( MD 'll ) ( ADVP-TMP ( RB ever ) ) ( VP ( VB find ) ) ) ) ) ) ) ) )

Cane & Associates touts its 2-a-minute service as the cheapest legal hour you 'll ever find


( S ( SBAR-ADV ( IN Though ) ( S ( NP-SBJ ( DT the ) ( NN service ) ) ( VP ( VBZ is ) ( ADJP-PRD ( JJ available ) ( PP-LOC ( ADVP ( RB only ) ) ( IN in ) ( NP ( NNP California ) ) ) ) ) ) ) ( NP-SBJ ( NNP Telelawyer ) ( NN founder ) ( NNP Michael ) ( NNP Cane ) ) ( VP ( VBZ says ) ( SBAR ( S ( NP-SBJ-1 ( PRP he ) ) ( VP ( VBZ plans ) ( S ( VP ( TO to ) ( VP ( VB franchise ) ( NP ( PRP it ) ) ( PP-LOC ( IN in ) ( NP ( JJ other ) ( NNS states ) ) ) ) ) ) ) ) ) ) )

Though the service is available only in California Telelawyer founder Michael Cane says he plans to franchise it in other states


( S ( NP-SBJ ( PRP He ) ) ( VP ( VBZ says ) ( SBAR ( S ( NP-SBJ ( PRP$ his ) ( NN aim ) ) ( VP ( VBZ is ) ( S-PRD ( VP ( TO to ) ( VP ( VB reach ) ( NP ( NP ( NNS people ) ) ( SBAR ( WHNP-1 ( WP who ) ) ( S ( VP ( VP ( VBP are ) ( ADJP-PRD ( JJ bedridden ) ) ) ( VP ( VB have ) ( NP ( NP ( DT no ) ( NN access ) ) ( PP ( TO to ) ( NP ( NN transportation ) ) ) ) ) ( VP ( MD ca ) ( RB n't ) ( VP ( VB find ) ( NP ( NP ( DT a ) ( NN lawyer ) ) ( SBAR ( S ( VP ( TO to ) ( VP ( VB take ) ( NP ( PRP$ their ) ( NN case ) ) ) ) ) ) ) ) ) ( CC or ) ( VP ( ADVP ( RB simply ) ) ( MD ca ) ( RB n't ) ( VP ( VB afford ) ( NP ( NP ( NNS lawyers ) ( POS ' ) ) ( NN consultation ) ( NNS fees ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

He says his aim is to reach people who are bedridden have no access to transportation ca n't find a lawyer to take their case or simply ca n't afford lawyers ' consultation fees


( S ( NP-SBJ ( NNP Mr. ) ( NNP Cane ) ) ( VP ( VBZ stresses ) ( SBAR ( IN that ) ( S ( NP-SBJ ( PRP he ) ) ( VP ( VBZ is ) ( RB n't ) ( VP ( VBG using ) ( NP-1 ( DT the ) ( NN telephone ) ) ( S-CLR ( VP ( TO to ) ( VP ( VB lure ) ( NP ( NNS clients ) ) ( PP-LOC-CLR ( TO to ) ( NP ( PRP$ his ) ( NN doorstep ) ) ) ) ) ) ) ) ) ) ) )

Mr. Cane stresses that he is n't using the telephone to lure clients to his doorstep


( S ( S-TPC-1 ( NP-SBJ ( PRP We ) ) ( VP ( MD will ) ( ADVP ( RB only ) ) ( VP ( VB deal ) ( PP-CLR ( IN with ) ( NP ( NNS clients ) ) ) ( PP-LOC ( IN on ) ( NP ( DT the ) ( NN phone ) ) ) ) ) ) ( NP-SBJ ( PRP he ) ) ( VP ( VBZ says ) ) )

We will only deal with clients on the phone he says


( S ( NP-SBJ ( PRP We ) ) ( VP ( VBP have ) ( NP ( DT no ) ( JJ in-office ) ( NN business ) ) ) )

We have no in-office business


( S ( NP-SBJ ( NNP Telelawyer ) ) ( VP ( VBZ is ) ( ADVP ( RB apparently ) ) ( NP-PRD ( NP ( DT the ) ( JJ only ) ( NN telephone ) ( NN service ) ) ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( VP ( VBZ offers ) ( NP ( NP ( DT the ) ( NN telephone ) ( NN equivalent ) ) ( PP ( IN of ) ( NP ( DT an ) ( NN office ) ( NN visit ) ) ) ) ) ) ) ) ) )

Telelawyer is apparently the only telephone service that offers the telephone equivalent of an office visit


( S ( NP-SBJ ( NP ( JJ Local ) ( NN bar ) ( NNS associations ) ) ( PP-LOC ( IN in ) ( NP ( DT some ) ( NNS states ) ) ) ) ( VP ( VBP have ) ( NP ( NP ( NNS numbers ) ) ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( VP ( VBP provide ) ( NP ( NP ( JJ free ) ( JJ tape-recorded ) ( NNS messages ) ) ( VP ( VBG explaining ) ( NP ( NP ( JJ certain ) ( NNS areas ) ) ( PP ( IN of ) ( NP ( DT the ) ( NN law ) ) ) ) ) ) ) ) ) ) ) )

Local bar associations in some states have numbers that provide free tape-recorded messages explaining certain areas of the law


( S ( NP-SBJ ( EX There ) ) ( ADVP ( RB also ) ) ( VP ( VBP are ) ( NP-PRD ( NP ( CD 800 ) ( NNS hotlines ) ) ( SBAR ( WHNP-1 ( WDT which ) ) ( S ( VP ( VBP refer ) ( NP ( NNS people ) ) ( PP-CLR ( TO to ) ( NP ( NP ( NNS lawyers ) ) ( NP ( RB usually ) ( JJ personal-injury ) ( NNS specialists ) ) ) ) ( PP-PRP ( IN for ) ( NP ( JJ in-office ) ( NN consultation ) ) ) ) ) ) ) ) )

There also are 800 hotlines which refer people to lawyers usually personal-injury specialists for in-office consultation


( S ( SBAR-TMP ( WHADVP-1 ( WRB When ) ) ( S ( NP-SBJ-2 ( DT a ) ( NN caller ) ) ( VP ( VBZ reaches ) ( NP ( NNP Telelawyer ) ) ( PP-MNR ( IN by ) ( S-NOM ( VP ( VBG dialing ) ( NP ( NN 900-TELELAW ) ) ) ) ) ) ) ) ( NP-SBJ ( DT a ) ( NN receptionist ) ) ( VP ( VBZ refers ) ( NP ( DT the ) ( NN call ) ) ( PP-CLR ( TO to ) ( NP ( NP ( CD one ) ) ( PP ( IN of ) ( NP ( CD six ) ( NNS attorneys ) ) ) ) ) ) )

When a caller reaches Telelawyer by dialing 900-TELELAW a receptionist refers the call to one of six attorneys


( S ( PP ( IN In ) ( NP ( DT an ) ( NN effort ) ( S ( VP ( TO to ) ( VP ( VB determine ) ( SBAR-NOM ( IN whether ) ( S ( NP-SBJ ( DT a ) ( NN caller ) ) ( VP ( VBZ has ) ( NP ( NP ( NN reason ) ) ( SBAR ( S ( VP ( TO to ) ( VP ( VB sue ) ) ) ) ) ) ) ) ) ) ) ) ) ) ( NP-SBJ ( NNP Cane ) ( NNS lawyers ) ) ( VP ( VP ( VBP review ) ( NP ( NNS documents ) ) ) ( CC and ) ( VP ( VBP perform ) ( NP ( NN research ) ) ( SBAR-ADV ( IN if ) ( FRAG ( ADJP ( JJ necessary ) ) ) ) ) ( PP ( IN with ) ( NP ( NP ( DT the ) ( NN help ) ) ( PP ( IN of ) ( NP ( NP ( CD three ) ( NN law ) ( NNS clerks ) ) ( CC and ) ( NP ( JJ several ) ( NN support ) ( NNS staffers ) ) ) ) ) ) ) )

In an effort to determine whether a caller has reason to sue Cane lawyers review documents and perform research if necessary with the help of three law clerks and several support staffers


( S ( NP-SBJ ( EX There ) ) ( VP ( VBZ is ) ( NP-PRD ( NP ( DT no ) ( NN charge ) ) ( PP ( PP ( IN for ) ( NP ( NN research ) ) ) ( PP ( ADVP ( RB only ) ) ( IN for ) ( NP ( NP ( NN time ) ) ( PP ( IN on ) ( NP ( DT the ) ( NN phone ) ) ) ) ) ) ) ) )

There is no charge for research only for time on the phone


( S-1 ( SBAR-ADV ( IN If ) ( S ( NP-SBJ ( DT the ) ( NN matter ) ) ( VP ( VBZ requires ) ( NP ( JJ further ) ( JJ legal ) ( NN work ) ( CC or ) ( NN litigation ) ) ) ) ) ( PRN ( NP-SBJ ( NNP Mr. ) ( NNP Cane ) ) ( VP ( VBZ says ) ) ) ( NP-SBJ ( PRP$ his ) ( NNS lawyers ) ) ( VP ( MD may ) ( VP ( VB refer ) ( NP ( DT the ) ( NN client ) ) ( PP-CLR ( TO to ) ( NP ( DT a ) ( NN law ) ( NN firm ) ) ) ) ) )

If the matter requires further legal work or litigation Mr. Cane says his lawyers may refer the client to a law firm


( S ( CC But ) ( NP-SBJ ( PRP he ) ) ( VP ( VBZ says ) ( SBAR ( S ( NP-SBJ ( NNP Cane ) ( CC & ) ( NNP Associates ) ) ( VP ( VBZ does ) ( RB n't ) ( VP ( VB receive ) ( NP ( NN referral ) ( NNS fees ) ) ) ) ) ) ) )

But he says Cane & Associates does n't receive referral fees


( S-1 ( ADVP-TMP ( RB So ) ( RB far ) ) ( PRN ( SINV ( VP ( VBZ says ) ) ( NP-SBJ ( NNP Mr. ) ( NNP Cane ) ) ) ) ( NP-SBJ ( JJS most ) ( NNS calls ) ) ( VP ( VBP have ) ( VP ( VBN involved ) ( NP ( NP ( JJ landlord-tenant ) ( NNS problems ) ) ( NP ( NN tax ) ( NNS problems ) ) ( NP ( NN divorce ) ) ( CC and ) ( NP ( NN probate ) ( NNS questions ) ) ) ) ) )

So far says Mr. Cane most calls have involved landlord-tenant problems tax problems divorce and probate questions


( S ( S ( NP-SBJ ( DT The ) ( NN firm ) ) ( VP ( VBZ is ) ( VP ( VBG getting ) ( NP ( NP ( QP ( IN about ) ( CD 50 ) ) ( NNS calls ) ) ( NP-ADV ( DT a ) ( NN day ) ) ) ) ) ) ( CC and ) ( S ( NP-SBJ ( DT the ) ( JJ average ) ( NN call ) ) ( VP ( VBZ lasts ) ( NP ( QP ( IN about ) ( CD 15 ) ) ( NNS minutes ) ) ) ) )

The firm is getting about 50 calls a day and the average call lasts about 15 minutes


( S ( PP ( IN Out ) ( PP ( IN of ) ( NP ( DT the ) ( ADJP ( CD 2 ) ) ( NN charge ) ) ) ) ( NP-SBJ ( DT the ) ( NN law ) ( NN firm ) ) ( VP ( VBZ pockets ) ( NP ( QP ( IN about ) ( CD 1.55 ) ) ) ) )

Out of the 2 charge the law firm pockets about 1.55


( S ( NP-SBJ ( NN JURY ) ) ( VP ( VBZ CONVICTS ) ( NP ( NN congressman ) ) ( PP ( IN in ) ( NP ( NP ( NN connection ) ) ( PP ( IN with ) ( NP ( NNP Wedtech ) ( NNP Corp. ) ( NN scandal ) ) ) ) ) ) )

JURY CONVICTS congressman in connection with Wedtech Corp. scandal


( S ( NP-SBJ ( NP ( DT A ) ( JJ federal ) ( NN court ) ( NN jury ) ) ( PP-LOC ( IN in ) ( NP ( NNP New ) ( NNP York ) ) ) ) ( VP ( VBD found ) ( S ( NP-SBJ ( NP ( NP ( NNP U.S. ) ( NNP Rep. ) ( NNP Robert ) ( NNP Garcia ) ) ( PRN ( NP ( NP ( NNP D. ) ) ( NP-LOC ( NNP N.Y ) ) ) ) ) ( CC and ) ( NP ( NP ( PRP$ his ) ( NN wife ) ) ( NP ( NNP Jane ) ( NNP Lee ) ( NNP Garcia ) ) ) ) ( ADJP-PRD ( JJ guilty ) ( PP ( IN of ) ( S-NOM ( VP ( VBG extorting ) ( NP ( CD 76,000 ) ) ( PP-CLR ( IN from ) ( NP ( NNP Wedtech ) ) ) ( PP ( IN in ) ( NP ( NP ( NN return ) ) ( PP ( IN for ) ( NP ( NP ( JJ official ) ( NNS acts ) ) ( PP ( IN by ) ( NP ( DT the ) ( NN congressman ) ) ) ) ) ) ) ) ) ) ) ) ) )

A federal court jury in New York found U.S. Rep. Robert Garcia D. N.Y and his wife Jane Lee Garcia guilty of extorting 76,000 from Wedtech in return for official acts by the congressman


( S ( NP-SBJ ( DT The ) ( NN jury ) ) ( ADVP ( RB also ) ) ( VP ( VBD convicted ) ( NP ( PRP them ) ) ( PP-CLR ( IN of ) ( NP ( NP ( NN extortion ) ) ( PP ( IN in ) ( S-NOM ( VP ( VBG obtaining ) ( NP ( DT a ) ( ADJP ( CD 20,000 ) ) ( JJ interest-free ) ( NN loan ) ) ( PP-CLR ( IN from ) ( NP ( DT a ) ( NNP Wedtech ) ( NN officer ) ) ) ) ) ) ) ) ) )

The jury also convicted them of extortion in obtaining a 20,000 interest-free loan from a Wedtech officer


( S ( NP-SBJ ( DT The ) ( NN jury ) ) ( VP ( VBD found ) ( S ( NP-SBJ ( PRP them ) ) ( ADJP-PRD ( JJ guilty ) ( PP ( IN of ) ( NP ( NP ( NN conspiracy ) ) ( PP ( IN in ) ( S-NOM ( VP ( VBG obtaining ) ( NP ( NP ( DT the ) ( NNS payments ) ) ( NP ( SBAR-NOM ( WHNP-3 ( NP ( DT some ) ) ( PP ( IN of ) ( WHNP ( WDT which ) ) ) ) ( S ( VP ( VBD were ) ( VP ( VBN disguised ) ( PP-CLR ( IN as ) ( NP ( NP ( NNS fees ) ) ( PP ( IN for ) ( NP ( NP ( NN consulting ) ( NNS services ) ) ( PP ( IN from ) ( NP ( NNP Mrs. ) ( NNP Garcia ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

The jury found them guilty of conspiracy in obtaining the payments some of which were disguised as fees for consulting services from Mrs. Garcia


( S ( NP-SBJ ( NP ( NNP Wedtech ) ) ( SBAR ( WHNP-1 ( WDT which ) ) ( S ( VP ( VBD became ) ( VP ( VBN embroiled ) ( PP-CLR ( IN in ) ( NP ( NP ( NN political-corruption ) ( NNS cases ) ) ( SBAR ( WHNP-2 ( WDT that ) ) ( S ( ADVP-TMP ( RB eventually ) ) ( VP ( VBD led ) ( PP-CLR ( TO to ) ( NP ( PRP$ its ) ( NN demise ) ) ) ) ) ) ) ) ) ) ) ) ) ( ADVP-TMP ( RB formerly ) ) ( VP ( VBD was ) ( NP-PRD ( DT a ) ( JJ minority-owned ) ( NAC-LOC ( NNP South ) ( NNP Bronx ) ( NNP N.Y. ) ) ( NN defense ) ( NN contractor ) ) ) )

Wedtech which became embroiled in political-corruption cases that eventually led to its demise formerly was a minority-owned South Bronx N.Y. defense contractor


( S ( NP-SBJ ( NP ( NNP Edward ) ( NNP J.M. ) ( NNP Little ) ) ( NP ( NP ( CD one ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( JJ assistant ) ( NNP U.S. ) ( NNS attorneys ) ) ( SBAR ( WHNP-1 ( WP who ) ) ( S ( VP ( VBD prosecuted ) ( NP ( DT the ) ( NN case ) ) ) ) ) ) ) ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( DT the ) ( NNP Garcia ) ( NN trial ) ) ( VP ( VBZ is ) ( NP-PRD ( NP ( DT the ) ( JJ last ) ) ( PP ( IN of ) ( NP ( DT the ) ( NNP Wedtech ) ( NNS prosecutions ) ) ) ) ) ) ) ) )

Edward J.M. Little one of the assistant U.S. attorneys who prosecuted the case said the Garcia trial is the last of the Wedtech prosecutions


( S ( NP-SBJ ( NNP Mr. ) ( NNP Little ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( QP ( JJR more ) ( IN than ) ( CD 20 ) ) ( NNS people ) ) ( VP ( VBP have ) ( VP ( VBN been ) ( VP ( VBN convicted ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( NNP Wedtech ) ( NNS cases ) ) ) ( PP ( VBG including ) ( NP ( NP ( JJ former ) ( NNP U.S. ) ( NNP Rep. ) ( NNP Mario ) ( NNP Biaggi ) ) ( PRN ( NP ( NP ( NNP D. ) ) ( NP-LOC ( NNP N.Y ) ) ) ) ) ) ) ) ) ) ) ) )

Mr. Little said more than 20 people have been convicted in the Wedtech cases including former U.S. Rep. Mario Biaggi D. N.Y


( S ( NP-SBJ ( NP ( NNS Lawyers ) ) ( PP ( IN for ) ( NP ( DT the ) ( NNPS Garcias ) ) ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ-1 ( PRP they ) ) ( VP ( VBP plan ) ( S ( VP ( TO to ) ( VP ( VB appeal ) ) ) ) ) ) ) ) )

Lawyers for the Garcias said they plan to appeal


( S ( NP-SBJ ( NP ( NNP Mr. ) ( NNP Garcia ) ) ( SBAR ( WHNP-1 ( WP who ) ) ( S ( VP ( VBZ represents ) ( NP ( NP ( NP ( NNP New ) ( NNP York ) ( POS 's ) ) ( JJ 18th ) ( JJ congressional ) ( NN district ) ) ( SBAR ( WHNP-2 ( WDT which ) ) ( S ( VP ( VBZ includes ) ( NP ( DT the ) ( NNP Bronx ) ) ) ) ) ) ) ) ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( PRP he ) ) ( VP ( VBZ has ) ( RB n't ) ( VP ( VBN decided ) ( SBAR-NOM ( IN whether ) ( S ( NP-SBJ ( PRP he ) ) ( VP ( MD will ) ( VP ( VB resign ) ) ) ) ) ) ) ) ) ) )

Mr. Garcia who represents New York 's 18th congressional district which includes the Bronx said he has n't decided whether he will resign


( SINV ( S-TPC-1 ( PP-TMP ( IN In ) ( NP ( DT the ) ( JJ next ) ( JJ few ) ( NNS weeks ) ) ) ( NP-SBJ ( PRP I ) ) ( VP ( MD will ) ( VP ( VB be ) ( VP ( VBG consulting ) ( PP-CLR ( PP ( IN with ) ( NP ( PRP$ my ) ( JJ political ) ( NNS advisers ) ) ) ( CC and ) ( PP ( IN with ) ( NP ( DT the ) ( JJ Democratic ) ( NNS leaders ) ) ) ) ( PP-CLR ( IN about ) ( NP ( NP ( DT the ) ( JJS best ) ( NN way ) ) ( PP ( IN of ) ( S-NOM ( VP ( VBG preserving ) ( NP ( NP ( DT the ) ( NNS interests ) ) ( PP ( IN of ) ( NP ( PRP$ my ) ( NNS constituents ) ) ) ) ) ) ) ) ) ) ) ) ) ( VP ( VBD said ) ) ( NP-SBJ ( NP ( NNP Mr. ) ( NNP Garcia ) ) ( ADJP ( NP ( CD 56 ) ( NNS years ) ) ( JJ old ) ) ) )

In the next few weeks I will be consulting with my political advisers and with the Democratic leaders about the best way of preserving the interests of my constituents said Mr. Garcia 56 years old


( S ( NP-SBJ ( NP ( NNP Mrs. ) ( NNP Garcia ) ) ( NP ( CD 49 ) ) ) ( ADVP-TMP ( RB formerly ) ) ( VP ( VBD was ) ( NP-PRD ( NP ( DT a ) ( NN member ) ) ( PP ( IN of ) ( NP ( NP ( NNP Mr. ) ( NNP Garcia ) ( POS 's ) ) ( JJ congressional ) ( NN staff ) ) ) ) ) )

Mrs. Garcia 49 formerly was a member of Mr. Garcia 's congressional staff


( S ( NP-SBJ-1 ( DT The ) ( NNPS Garcias ) ) ( VP ( VBD were ) ( VP ( VBN cleared ) ( PP-CLR ( IN of ) ( NP ( NP ( CD four ) ( JJ other ) ( NN felony ) ( NNS counts ) ) ( VP ( VBG involving ) ( NP ( NP ( DT the ) ( NN receipt ) ) ( PP ( IN of ) ( NP ( NNS bribes ) ( CC and ) ( NNS gratuities ) ) ) ) ) ) ) ) ) )

The Garcias were cleared of four other felony counts involving the receipt of bribes and gratuities


( S ( NP-SBJ ( NNP U.S. ) ( NNP Judge ) ( NNP Leonard ) ( NNP B. ) ( NNP Sand ) ) ( VP ( VBD set ) ( NP ( NP ( DT the ) ( NNPS Garcias ) ( POS ' ) ) ( NN sentencing ) ) ( PP-TMP-CLR ( IN for ) ( NP ( NNP Jan. ) ( CD 5 ) ) ) ) )

U.S. Judge Leonard B. Sand set the Garcias ' sentencing for Jan. 5


( S ( NP-SBJ-1 ( CD FIVE ) ( NNP SHEA ) ( CC & ) ( NNP GOULD ) ( NNS PARTNERS ) ) ( VP ( VBP are ) ( VP ( VBG leaving ) ( S-PRP ( VP ( TO to ) ( VP ( VB form ) ( NP ( DT a ) ( JJ new ) ( NN firm ) ) ) ) ) ) ) )

FIVE SHEA & GOULD PARTNERS are leaving to form a new firm


( S ( NP-SBJ-1 ( NP ( DT The ) ( JJ new ) ( NN firm ) ) ( NP ( NNP Hutton ) ( NNP Ingram ) ( NNP Yuzek ) ( NNP Gainen ) ( NNP Carroll ) ( CC & ) ( NNP Bertolotti ) ) ) ( VP ( MD will ) ( VP ( VB be ) ( VP ( VBN based ) ( PP-LOC-CLR ( IN in ) ( NP ( NNP New ) ( NNP York ) ) ) ) ) ) )

The new firm Hutton Ingram Yuzek Gainen Carroll & Bertolotti will be based in New York


( S ( NP-SBJ ( NP ( DT The ) ( CD five ) ( NNS partners ) ) ( SBAR ( WHNP-1 ( WP who ) ) ( S ( VP ( VBD resigned ) ( PP-CLR ( IN from ) ( NP ( NNP Shea ) ( CC & ) ( NNP Gould ) ) ) ( NP-TMP ( JJ late ) ( JJ last ) ( NN week ) ) ) ) ) ) ( VP ( VBP are ) ( NP-PRD ( NP ( NNP Tom ) ( NNP Hutton ) ) ( NP ( NNP Sam ) ( NNP Ingram ) ) ( NP ( NNP Dean ) ( NNP Yuzek ) ) ( NP ( NNP Daniel ) ( NNP Carroll ) ) ( CC and ) ( NP ( NNP Ernest ) ( NNP Bertolotti ) ) ) ) )

The five partners who resigned from Shea & Gould late last week are Tom Hutton Sam Ingram Dean Yuzek Daniel Carroll and Ernest Bertolotti


( S ( NP-SBJ-1 ( PRP They ) ) ( VP ( MD will ) ( VP ( VB be ) ( VP ( VBN joined ) ( PP ( IN by ) ( NP-LGS ( NP ( NNP Larry ) ( NNP Gainen ) ) ( SBAR ( WHNP-2 ( WP who ) ) ( S ( VP ( VBD resigned ) ( PP-CLR ( IN from ) ( NP ( NP ( DT the ) ( NN firm ) ) ( PP ( IN of ) ( NP ( NNP LePatner ) ( NNP Gainen ) ( CC & ) ( NNP Block ) ) ) ) ) ) ) ) ) ) ) ) ) )

They will be joined by Larry Gainen who resigned from the firm of LePatner Gainen & Block


( S ( NP-SBJ ( NP ( NNP Howard ) ( NNP Rubenstein ) ) ( NP ( NP ( DT a ) ( NNP New ) ( NNP York ) ( NN publicist ) ) ( SBAR ( WHNP-1 ( WP who ) ) ( S ( VP ( VBZ represents ) ( NP ( NNP Shea ) ( CC & ) ( NNP Gould ) ) ) ) ) ) ) ( VP ( VBD said ) ( S ( NP-SBJ ( NNP Shea ) ( CC & ) ( NNP Gould ) ) ( VP ( VBZ understands ) ( SBAR ( S ( NP-SBJ ( PRP they ) ) ( VP ( VBP 're ) ( VP ( VBG leaving ) ( SBAR-PRP ( IN because ) ( S ( NP-SBJ ( PRP they ) ) ( VP ( VBD wanted ) ( NP ( NP ( DT a ) ( JJ different ) ( NN environment ) ) ( NP ( NP ( DT a ) ( JJR smaller ) ( NN firm ) ) ( SBAR ( S ( NP-SBJ ( PRP they ) ) ( VP ( MD would ) ( VP ( VB be ) ( NP-PRD ( NP ( NNS principals ) ) ( PP ( IN of ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Howard Rubenstein a New York publicist who represents Shea & Gould said Shea & Gould understands they 're leaving because they wanted a different environment a smaller firm they would be principals of


( S ( NP-SBJ ( NNP Mr. ) ( NNP Rubenstein ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( NP ( DT the ) ( CD five ) ) ( SBAR ( WHNP-1 ( WP who ) ) ( S ( VP ( VBD were ) ( RB n't ) ( PP-PRD ( IN on ) ( NP ( NP ( NNP Shea ) ( CC & ) ( NNP Gould ) ( POS 's ) ) ( NN management ) ( NN committee ) ) ) ) ) ) ) ( VP ( VBP are ) ( VP ( VBG leaving ) ( PP-MNR ( IN on ) ( NP ( JJ good ) ( NNS terms ) ) ) ) ) ) ) ) )

Mr. Rubenstein said the five who were n't on Shea & Gould 's management committee are leaving on good terms


( S ( NP-SBJ ( PRP He ) ) ( VP ( VBD said ) ( SBAR ( SBAR ( S ( NP-SBJ ( NNP Shea ) ( CC & ) ( NNP Gould ) ) ( VP ( VBD held ) ( NP ( NP ( DT a ) ( NN number ) ) ( PP ( IN of ) ( NP ( NP ( NNS discussions ) ) ( PP ( IN with ) ( NP ( DT the ) ( CD five ) ( NNS partners ) ) ) ) ) ) ( PP-TMP ( IN during ) ( NP ( DT the ) ( JJ past ) ( JJ few ) ( NNS weeks ) ) ) ( S-PRP ( VP ( TO to ) ( VP ( VB get ) ( S ( NP-SBJ ( PRP them ) ) ( VP ( TO to ) ( VP ( VB stay ) ) ) ) ) ) ) ) ) ) ( CC but ) ( SBAR ( IN that ) ( S ( NP-SBJ-1 ( DT the ) ( CD five ) ) ( VP ( VBD were ) ( ADJP-PRD ( RB firmly ) ( JJ committed ) ( PP ( TO to ) ( S-NOM ( VP ( VBG running ) ( NP ( PRP$ their ) ( JJ own ) ( NN firm ) ) ) ) ) ) ) ) ) ) ) )

He said Shea & Gould held a number of discussions with the five partners during the past few weeks to get them to stay but that the five were firmly committed to running their own firm


( S ( NP-SBJ ( NNP Hutton ) ( NNP Ingram ) ) ( VP ( MD will ) ( VP ( VB have ) ( NP ( NP ( DT a ) ( JJ general ) ( JJ corporate ) ( NNS securities ) ( NN real-estate ) ( CC and ) ( NN litigation ) ( NN practice ) ) ( CC and ) ( NP ( NP ( DT a ) ( JJ substantial ) ( NN practice ) ) ( VP ( VBG serving ) ( NP ( DT the ) ( JJ professional-design ) ( NN community ) ) ) ) ) ) ) )

Hutton Ingram will have a general corporate securities real-estate and litigation practice and a substantial practice serving the professional-design community


( S ( NP-SBJ ( NP-HLN ( NN DISCIPLINARY ) ( NNS PROCEEDINGS ) ) ( PP ( IN against ) ( NP ( NNS lawyers ) ) ) ) ( VP ( JJ open ) ( PP-CLR ( TO to ) ( NP ( NN public ) ) ) ( PP-LOC ( IN in ) ( NP ( NNP Illinois ) ) ) ) )

DISCIPLINARY PROCEEDINGS against lawyers open to public in Illinois


( S ( SBAR-ADV ( IN While ) ( S ( NP-SBJ ( NP ( NNS investigations ) ) ( PP ( IN into ) ( NP ( NN lawyer ) ( NN misconduct ) ) ) ) ( VP ( MD will ) ( VP ( VB remain ) ( ADJP-PRD ( JJ secret ) ) ) ) ) ) ( NP-SBJ-1 ( DT the ) ( NN public ) ) ( VP ( MD will ) ( VP ( VB be ) ( VP ( VBN notified ) ( SBAR-TMP ( RB once ) ( S ( NP-SBJ-2 ( DT a ) ( JJ formal ) ( NN complaint ) ) ( VP ( VBZ is ) ( VP ( VBN filed ) ( PP-CLR ( IN against ) ( NP ( DT an ) ( NN attorney ) ) ) ) ) ) ) ) ) ) )

While investigations into lawyer misconduct will remain secret the public will be notified once a formal complaint is filed against an attorney


( S ( NP-SBJ ( DT The ) ( JJ actual ) ( JJ disciplinary ) ( NNS hearings ) ) ( VP ( MD will ) ( VP ( VB be ) ( ADJP-PRD ( JJ public ) ) ) ) )

The actual disciplinary hearings will be public


( S ( PP ( IN In ) ( NP ( NN addition ) ) ) ( NP-SBJ ( NNP Illinois ) ( NNS attorneys ) ) ( VP ( MD will ) ( VP ( VB lose ) ( NP ( DT the ) ( NN right ) ( S ( VP ( TO to ) ( VP ( VB sue ) ( NP ( NP ( NNS clients ) ) ( SBAR ( WHNP-1 ( WP who ) ) ( S ( VP ( VBP file ) ( NP ( JJ malicious ) ( NNS complaints ) ) ( PP-CLR ( IN against ) ( NP ( PRP them ) ) ) ) ) ) ) ) ) ) ) ) ) )

In addition Illinois attorneys will lose the right to sue clients who file malicious complaints against them


( S ( NP-SBJ-1 ( NNS Non-lawyers ) ) ( VP ( MD will ) ( VP ( VB be ) ( VP ( VBN added ) ( PP-CLR ( TO to ) ( NP ( NP ( DT the ) ( NN inquiry ) ( NNS panels ) ) ( SBAR ( WHNP-2 ( WDT that ) ) ( S ( VP ( VBP look ) ( PP-CLR ( IN into ) ( NP ( NP ( NNS allegations ) ) ( PP ( IN of ) ( NP ( NN misconduct ) ) ) ) ) ) ) ) ) ) ) ) ) )

Non-lawyers will be added to the inquiry panels that look into allegations of misconduct


( S ( NP-SBJ ( NNP Illinois ) ) ( VP ( VBZ joins ) ( NP ( NP ( NP ( CD 36 ) ( JJ other ) ( NNS states ) ) ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( VP ( VBP allow ) ( NP ( NP ( JJ public ) ( NN participation ) ) ( PP ( IN in ) ( NP ( JJ attorney-disciplinary ) ( NNS proceedings ) ) ) ) ) ) ) ) ( CC and ) ( NP ( NP ( CD 32 ) ( NNS states ) ) ( SBAR ( WHNP-2 ( WDT that ) ) ( S ( VP ( VBP open ) ( NP ( JJ disciplinary ) ( NNS hearings ) ) ( PP-CLR ( TO to ) ( NP ( DT the ) ( NN public ) ) ) ) ) ) ) ) ( PP ( VBG according ) ( PP ( TO to ) ( NP ( DT the ) ( NNP American ) ( NNP Bar ) ( NNP Association ) ) ) ) ) )

Illinois joins 36 other states that allow public participation in attorney-disciplinary proceedings and 32 states that open disciplinary hearings to the public according to the American Bar Association


( S ( NP-SBJ ( NP ( NP ( CD One ) ( JJ vocal ) ( NN critic ) ) ( PP ( IN of ) ( NP ( DT the ) ( NNS changes ) ) ) ) ( NP ( NNP Chicago ) ( NN lawyer ) ( NNP Warren ) ( NNP Lupel ) ) ) ( VP ( VBZ says ) ( SBAR ( S ( NP-SBJ-1 ( NNS non-lawyers ) ) ( VP ( MD should ) ( RB n't ) ( VP ( VB be ) ( PP-PRD ( IN on ) ( NP ( DT the ) ( NN inquiry ) ( NNS panels ) ) ) ( SBAR-PRP ( IN because ) ( S ( NP-SBJ ( PRP they ) ) ( VP ( VBP are ) ( ADJP-PRD ( JJ unlikely ) ( S ( VP ( TO to ) ( VP ( VB appreciate ) ( NP ( NP ( DT the ) ( NNS nuances ) ) ( PP ( IN of ) ( NP ( JJ attorney-client ) ( NNS relationships ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

One vocal critic of the changes Chicago lawyer Warren Lupel says non-lawyers should n't be on the inquiry panels because they are unlikely to appreciate the nuances of attorney-client relationships


( S-2 ( PP ( IN In ) ( NP ( NN addition ) ) ) ( PRN ( S ( NP-SBJ ( PRP he ) ) ( VP ( VBZ says ) ) ) ) ( S-NOM-SBJ ( VP ( VBG publishing ) ( NP ( NP ( DT the ) ( NNS names ) ) ( PP ( IN of ) ( NP ( NP ( NNS lawyers ) ) ( SBAR ( WHNP-1 ( WP who ) ) ( S ( VP ( VBP are ) ( VP ( VBG facing ) ( NP ( NNS charges ) ) ) ) ) ) ) ) ) ) ) ( ADVP ( RB unnecessarily ) ) ( VP ( VBZ subjects ) ( NP ( PRP them ) ) ( PP-CLR ( TO to ) ( NP ( JJ public ) ( NN derogation ) ) ) ) )

In addition he says publishing the names of lawyers who are facing charges unnecessarily subjects them to public derogation


( S ( ADVP ( RB Nevertheless ) ) ( NP-SBJ ( NNP Mr. ) ( NNP Lupel ) ) ( VP ( VBZ anticipates ) ( NP ( DT no ) ( JJ legal ) ( NN action ) ( S ( VP ( TO to ) ( VP ( VB reverse ) ( NP ( NP ( DT the ) ( NNP Illinois ) ( NNP Supreme ) ( NNP Court ) ( POS 's ) ) ( NN decision ) ( S ( VP ( TO to ) ( VP ( VB institute ) ( NP ( DT the ) ( NNS changes ) ) ) ) ) ) ) ) ) ) ) )

Nevertheless Mr. Lupel anticipates no legal action to reverse the Illinois Supreme Court 's decision to institute the changes


( S ( S-TPC-1 ( NP-SBJ ( EX There ) ) ( VP ( VBZ 's ) ( NP-PRD ( NP ( DT no ) ( JJ constitutional ) ( NN right ) ) ( VP ( VBN involved ) ( PP-CLR ( IN in ) ( NP ( DT the ) ( NN rule ) ( NN change ) ) ) ) ) ) ) ( NP-SBJ ( PRP he ) ) ( VP ( VBZ says ) ) )

There 's no constitutional right involved in the rule change he says


( S ( NP-SBJ-1 ( PRP You ) ) ( VP ( VBP do ) ( RB n't ) ( VP ( VB have ) ( NP ( DT a ) ( NN right ) ( S ( VP ( TO to ) ( VP ( VB practice ) ) ) ) ) ) ) )

You do n't have a right to practice


( S ( NP-SBJ-1 ( PRP You ) ) ( ADVP ( RB only ) ) ( VP ( VBP have ) ( NP ( DT a ) ( NN privilege ) ( S ( VP ( TO to ) ( VP ( VB practice ) ) ) ) ) ) )

You only have a privilege to practice


( S ( NP-SBJ-3 ( NNP DREXEL ) ( NNP BURNHAM ) ( NNP LAMBERT ) ( NNP Inc. ) ) ( VP ( VBD agreed ) ( S ( VP ( TO to ) ( VP ( VB pay ) ( NP ( DT a ) ( ADJP ( CD 50,000 ) ) ( NN fine ) ) ( PP-DTV ( TO to ) ( NP ( NP ( NNP Delaware ) ) ( NP ( NP ( DT the ) ( JJ 26th ) ( NN state ) ) ( SBAR ( S ( VP ( TO to ) ( VP ( VB settle ) ( PP-CLR ( IN with ) ( NP ( NNP Drexel ) ) ) ( PP-TMP ( IN in ) ( NP ( NP ( DT the ) ( NN wake ) ) ( PP ( IN of ) ( NP ( NP ( NP ( DT the ) ( NN firm ) ( POS 's ) ) ( JJ guilty ) ( NN plea ) ) ( PP ( TO to ) ( NP ( JJ federal ) ( NN insider-trading ) ( NNS charges ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

DREXEL BURNHAM LAMBERT Inc. agreed to pay a 50,000 fine to Delaware the 26th state to settle with Drexel in the wake of the firm 's guilty plea to federal insider-trading charges


( S ( S ( NP-SBJ ( NNP Drexel ) ) ( VP ( VBZ does ) ( RB n't ) ( VP ( VB have ) ( NP ( DT a ) ( NNP Delaware ) ( NN office ) ) ) ) ) ( CC but ) ( S ( NP-SBJ ( DT the ) ( NNP New ) ( NNP York ) ( NN firm ) ) ( VP ( VBZ has ) ( VP ( VBN been ) ( VP ( VBG negotiating ) ( NP ( NP ( NNS settlements ) ) ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( VP ( MD would ) ( VP ( VB allow ) ( S ( NP-SBJ ( PRP it ) ) ( VP ( TO to ) ( VP ( VB operate ) ( ADVP-MNR ( RB freely ) ) ( ADVP-LOC ( RB nationwide ) ) ( PP ( IN despite ) ( NP ( NP ( PRP$ its ) ( NN record ) ) ( PP ( IN as ) ( NP ( DT an ) ( VBN admitted ) ( NN felon ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Drexel does n't have a Delaware office but the New York firm has been negotiating settlements that would allow it to operate freely nationwide despite its record as an admitted felon


( S ( NP-SBJ ( DT The ) ( NN firm ) ) ( VP ( VBZ has ) ( VP ( VBN said ) ( SBAR ( S ( NP-SBJ-1 ( PRP it ) ) ( VP ( VBZ expects ) ( S ( VP ( TO to ) ( VP ( VB pay ) ( NP ( CD 11.5 ) ( CD million ) ) ( ADVP ( NN overall ) ) ( S-PRP ( VP ( TO to ) ( VP ( VB settle ) ( PP-CLR ( IN with ) ( NP ( NNS states ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

The firm has said it expects to pay 11.5 million overall to settle with states


( S ( S ( NP-SBJ ( NNP Drexel ) ) ( VP ( VBD pleaded ) ( ADJP-PRD ( JJ guilty ) ) ( PP-TMP ( IN in ) ( NP ( NNP September ) ) ) ( PP-1 ( TO to ) ( NP ( NP ( CD six ) ( NN felony ) ( NNS counts ) ) ( PP ( IN of ) ( NP ( NNS securities ) ( CC and ) ( NN mail ) ( NN fraud ) ) ) ) ) ) ) ( S ( NP-SBJ ( PRP it ) ) ( ADVP ( RB also ) ) ( VP ( VBD made ) ( NP ( NP ( DT a ) ( ADJP ( QP ( CD 650 ) ( CD million ) ) ) ( JJ civil ) ( NN settlement ) ) ( PP ( IN with ) ( NP ( DT the ) ( NNPS Securities ) ( CC and ) ( NNP Exchange ) ( NNP Commission ) ) ) ) ) ) )

Drexel pleaded guilty in September to six felony counts of securities and mail fraud it also made a 650 million civil settlement with the Securities and Exchange Commission


( S ( NP-SBJ-1 ( JJ High-definition ) ( NN television ) ) ( VP ( VBZ promises ) ( S ( VP ( TO to ) ( VP ( VB be ) ( NP-PRD ( NP ( DT the ) ( NN TV ) ) ( PP ( IN of ) ( NP ( NN tomorrow ) ) ) ) ) ) ) ( SBAR-ADV ( IN so ) ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBZ is ) ( NP-PRD ( DT a ) ( JJ natural ) ( JJ multibillion-dollar ) ( NN market ) ) ) ) ) ) )

High-definition television promises to be the TV of tomorrow so it is a natural multibillion-dollar market


( S ( SBAR-ADV ( IN Although ) ( S ( NP-SBJ ( JJ major ) ( NNP U.S. ) ( NNS manufacturers ) ) ( VP ( VBP have ) ( ADVP ( DT all ) ( CC but ) ) ( VP ( VBN ceded ) ( NP ( NP ( DT the ) ( JJ main ) ( NN segment ) ) ( PP ( IN of ) ( NP ( DT that ) ( JJ future ) ( NN business ) ) ) ) ( PP-DTV ( TO to ) ( NP ( NNP Japan ) ) ) ) ) ) ) ( NP-SBJ-1 ( RB not ) ( NN everyone ) ) ( ADVP-LOC ( RB here ) ) ( VP ( VBZ is ) ( ADJP-PRD ( JJ ready ) ( S ( VP ( TO to ) ( VP ( VB give ) ( PRT ( RP up ) ) ) ) ) ) ) )

Although major U.S. manufacturers have all but ceded the main segment of that future business to Japan not everyone here is ready to give up


( S ( NP-SBJ-2 ( NP ( DT A ) ( NN handful ) ) ( PP ( IN of ) ( NP ( JJ small ) ( NNP U.S. ) ( NNS companies ) ) ) ) ( VP ( VBP are ) ( VP ( VBG struggling ) ( S ( VP ( TO to ) ( VP ( VB develop ) ( NP ( NP ( DT the ) ( NN technology ) ) ( SBAR ( S ( VP ( TO to ) ( VP ( VB build ) ( NP ( NP ( DT the ) ( NNS screens ) ) ( PP ( IN for ) ( NP ( NP ( DT the ) ( JJ thin ) ( JJ high-quality ) ( NNS televisions ) ) ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( VP ( VBP are ) ( VP ( VBN expected ) ( S ( VP ( TO to ) ( VP ( VB hang ) ( PP-LOC-CLR ( IN on ) ( NP ( JJ living ) ( NN room ) ( NNS walls ) ) ) ) ) ) ( PP-TMP ( IN by ) ( NP ( NP ( DT the ) ( NN end ) ) ( PP ( IN of ) ( NP ( DT the ) ( NNS 1990s ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

A handful of small U.S. companies are struggling to develop the technology to build the screens for the thin high-quality televisions that are expected to hang on living room walls by the end of the 1990s


( S ( PP ( IN With ) ( NP ( NP ( JJ only ) ( JJ small ) ( NN help ) ) ( PP ( IN from ) ( NP ( DT the ) ( NN government ) ) ) ) ) ( NP-SBJ-2 ( DT these ) ( JJ start-up ) ( NNS concerns ) ) ( VP ( VBP are ) ( VP ( VBG trying ) ( S ( VP ( TO to ) ( VP ( VB compete ) ( PP-CLR ( IN with ) ( NP ( NP ( DT the ) ( NNPS Goliaths ) ) ( PP ( IN of ) ( NP ( DT the ) ( JJ Japanese ) ( NN consumer ) ( NNS electronics ) ( NN industry ) ) ) ( SBAR ( WHNP-1 ( WDT which ) ) ( S ( VP ( VBP enjoy ) ( NP ( NP ( JJ considerable ) ( NN backing ) ) ( PP ( IN from ) ( NP ( DT the ) ( JJ Japanese ) ( NN government ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

With only small help from the government these start-up concerns are trying to compete with the Goliaths of the Japanese consumer electronics industry which enjoy considerable backing from the Japanese government


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Photonics Technology Inc. of Northwood Ohio aims to use a new form of plasma technology to put movie-quality images on a TV display that is 40 inches in diameter but only a few inches thick


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Planar Systems Inc. of Beaverton Ore. the largest of these firms with 20 million in annual revenue has similar plans


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It already has had success in electroluminescence another promising technology adaptable for high-definition television


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Two other firms Ovonic Imaging Systems Inc. of Troy Mich. and Magnascreen Corp. of Pittsburgh are developing a variation of the flat-panel screens called active-matrix liquid crystal displays


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The new technologies are intended to retire the cathode-ray tube which accounts for most of the bulk of the conventional TV set


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Replacing the cathode-ray tube with a large thin screen is the key to the creation of a high-definition television or HDTV which is expected to become a 30 billion business world-wide within a decade


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Large U.S. companies are interested in other segments of the HDTV business such as signal-processing and broadcast equipment


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But except for Zenith Electronics Corp. and International Business Machines Corp. which is collaborating with Toshiba on computer displays they are poorly positioned to exploit advances in large panels


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General Electric Co. recently sold off its interests in liquid-crystal displays to Thompson-CSF of France


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We found the market not developing as we thought it would a GE spokesman says


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The small U.S. firms are persisting because of their strong positions in patents and because the prize is still there to be seized


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No one yet has shown the ability to manufacture these panels at commercial costs says Zvi Yaniv the president of Ovonic Imaging


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He says he thinks his company is just a few years from doing that


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The Bush administration hearing conflicting advice about what its role in HDTV should be is n't doing much for now


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The only material support it is extending to the struggling U.S. industry is 30 million in awards from the Pentagon 's Defense Advanced Research Projects Agency