( S ( NP-SBJ ( DT The ) ( JJ loyal ) ( NN servant ) ) ( VP ( VBZ has ) ( VP ( VBN come ) ( NP-ADV ( JJ full ) ( NN circle ) ) ) ) )

The loyal servant has come full circle


( SBARQ ( WHNP-1 ( WP What ) ) ( SQ ( VBZ is ) ( NP-SBJ ( NN greatness ) ) ) )

What is greatness


( SBARQ ( WHNP-1 ( WP What ) ) ( SQ ( VBZ is ) ( NP-SBJ ( NN dignity ) ) ) )

What is dignity


( S ( S ( NP-SBJ ( PRP We ) ) ( VP ( VB understand ) ( SBAR ( S ( NP-SBJ ( JJ such ) ( JJ rueful ) ( NN wisdom ) ) ( VP ( MD must ) ( VP ( VB be ) ( ADJP-PRD ( JJ retrospective ) ) ) ) ) ) ) ) ( S ( NP-SBJ ( NP ( DT The ) ( NN owl ) ) ( PP ( IN of ) ( NP ( NNP Minerva ) ) ) ) ( VP ( ADVP ( RB only ) ) ( VBZ spreads ) ( NP ( PRP$ her ) ( NNS wings ) ) ( PP-TMP ( IN at ) ( NP ( NN dusk ) ) ) ) ) )

We understand such rueful wisdom must be retrospective The owl of Minerva only spreads her wings at dusk


( S ( CC But ) ( SBAR-ADV ( IN as ) ( S ( NP-TTL-SBJ ( NP ( DT The ) ( NNS Remains ) ) ( PP ( IN of ) ( NP ( DT the ) ( NN Day ) ) ) ) ( VP ( ADVP-MNR ( RB so ) ( RB eloquently ) ) ( VBZ demonstrates ) ( PP-MNR ( IN with ) ( NP ( JJ quiet ) ( NN virtuosity ) ) ) ) ) ) ( NP-SBJ-1 ( JJ such ) ( NN wisdom ) ) ( VP ( MD can ) ( VP ( VB be ) ( VP ( ADVP-MNR ( RB movingly ) ) ( VBN embodied ) ( PP-CLR ( IN in ) ( NP ( NN art ) ) ) ) ) ) )

But as The Remains of the Day so eloquently demonstrates with quiet virtuosity such wisdom can be movingly embodied in art


( S ( NP-SBJ ( NNP Mr. ) ( NNP Locke ) ) ( VP ( VBZ teaches ) ( NP ( NP ( NNP English ) ) ( CC and ) ( NP ( JJ comparative ) ( NN literature ) ) ) ( PP-LOC ( IN at ) ( NP ( NNP Columbia ) ( NNP University ) ) ) ) )

Mr. Locke teaches English and comparative literature at Columbia University


( S ( NP-SBJ-2 ( NP ( DT The ) ( JJ following ) ( NNS issues ) ) ) ( VP ( VBD were ) ( ADVP-TMP ( RB recently ) ) ( VP ( VBN filed ) ( PP-CLR ( IN with ) ( NP ( DT the ) ( NNPS Securities ) ( CC and ) ( NNP Exchange ) ( NNP Commission ) ) ) ( NP-3 ( NP ( NNP Gehl ) ( NNP Co. ) ) ( NP ( NP ( JJ initial ) ( JJ public ) ( NN offering ) ) ( PP ( IN of ) ( NP ( NP ( NP ( QP ( CD two ) ( CD million ) ) ( NNS shares ) ) ( PP ( IN of ) ( NP ( JJ common ) ( NN stock ) ) ) ) ( SBAR ( WHPP-4 ( IN of ) ( WHNP ( WDT which ) ) ) ( S ( S ( NP-SBJ-1 ( NP ( CD 1,450,635 ) ( NNS shares ) ) ) ( VP ( VBP are ) ( VP ( VBG being ) ( VP ( VBN offered ) ( PP-5 ( IN by ) ( NP-LGS ( DT the ) ( NN company ) ) ) ) ) ) ) ( CC and ) ( S ( NP-SBJ=1 ( NP ( CD 549,365 ) ( NNS shares ) ) ) ( PP=5 ( IN by ) ( NP-LGS ( NNS holders ) ) ) ) ( PP-MNR ( IN via ) ( NP ( NP ( NNP Blunt ) ( NNP Ellis ) ( CC & ) ( NNP Loewi ) ( NNP Inc. ) ) ( CC and ) ( NP ( NNP Robert ) ( NNP W. ) ( NNP Baird ) ( CC & ) ( NNP Co ) ) ) ) ) ) ) ) ) ) ) ) )

The following issues were recently filed with the Securities and Exchange Commission Gehl Co. initial public offering of two million shares of common stock of which 1,450,635 shares are being offered by the company and 549,365 shares by holders via Blunt Ellis & Loewi Inc. and Robert W. Baird & Co


( NP ( NP ( NNP Giant ) ( NNPS Industries ) ( NNP Inc. ) ) ( NP ( NP ( JJ initial ) ( JJ public ) ( NN offering ) ) ( PP ( IN of ) ( NP ( NP ( CD 3,111,000 ) ( JJ common ) ( NNS shares ) ) ( SBAR ( WHPP-2 ( IN of ) ( WHNP ( WDT which ) ) ) ( S ( S ( NP-SBJ-1 ( NP ( CD 2,425,000 ) ) ) ( VP ( MD will ) ( VP ( VB be ) ( VP ( VBN sold ) ( PP-3 ( IN by ) ( NP-LGS ( DT the ) ( NN company ) ) ) ) ) ) ) ( CC and ) ( S ( NP-SBJ=1 ( NP ( DT the ) ( NN rest ) ) ) ( PP=3 ( IN by ) ( NP-LGS ( NNS holders ) ) ) ) ( PP-MNR ( IN via ) ( NP ( NP ( NNP Shearson ) ( NNP Lehman ) ( NNP Hutton ) ( NNP Inc. ) ) ( CC and ) ( NP ( NNP Hanifen ) ( NNP Imhoff ) ( NNP Inc ) ) ) ) ) ) ) ) ) )

Giant Industries Inc. initial public offering of 3,111,000 common shares of which 2,425,000 will be sold by the company and the rest by holders via Shearson Lehman Hutton Inc. and Hanifen Imhoff Inc


( NP ( NP ( NNP Inefficient-Market ) ( NNP Fund ) ( NNP Inc. ) ) ( NP ( NP ( JJ initial ) ( NN offering ) ) ( PP ( IN of ) ( NP ( QP ( CD five ) ( CD million ) ) ( JJ common ) ( NNS shares ) ) ) ) ( PP-MNR ( IN via ) ( NP ( NNP Smith ) ( NNP Barney ) ( NNP Harris ) ( NNP Upham ) ( CC & ) ( NNP Co ) ) ) )

Inefficient-Market Fund Inc. initial offering of five million common shares via Smith Barney Harris Upham & Co


( NP ( NP ( NNP Jason ) ( NNP Overseas ) ( NNP Ltd. ) ) ( NP ( NP ( JJ initial ) ( NN offering ) ) ( PP ( IN of ) ( NP ( NP ( QP ( CD four ) ( CD million ) ) ( JJ common ) ( NNS shares ) ) ( SBAR ( WHPP-2 ( IN of ) ( WHNP ( WDT which ) ) ) ( S ( S ( NP-SBJ-1 ( NP ( CD 3.2 ) ( CD million ) ) ) ( VP ( MD will ) ( VP ( VB be ) ( VP ( VBN sold ) ( PP-LOC-3 ( IN in ) ( NP ( DT the ) ( NNP U.S. ) ) ) ) ) ) ) ( CC and ) ( S ( NP-SBJ=1 ( NP ( DT the ) ( NN balance ) ) ) ( PP-LOC=3 ( IN outside ) ( NP ( DT the ) ( NNP U.S. ) ) ) ) ( PP-MNR ( IN via ) ( NP ( NP ( NNP Smith ) ( NNP Barney ) ( NNP Harris ) ( NNP Upham ) ( CC & ) ( NNP Co. ) ) ( CC and ) ( NP ( NNP Mabon ) ( NNP Nugent ) ( CC & ) ( NNP Co ) ) ) ) ) ) ) ) ) )

Jason Overseas Ltd. initial offering of four million common shares of which 3.2 million will be sold in the U.S. and the balance outside the U.S. via Smith Barney Harris Upham & Co. and Mabon Nugent & Co


( S ( NP-SBJ ( NNP International ) ( NNP Business ) ( NNPS Machines ) ( NNP Corp. ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( NNS earnings ) ) ( VP ( VBD tumbled ) ( NP-EXT ( CD 30 ) ( NN % ) ) ( PP-TMP ( IN in ) ( NP ( DT the ) ( JJ third ) ( NN quarter ) ) ) ( ADVP ( ADVP ( RB even ) ( DT a ) ( RB bit ) ( RBR further ) ) ( PP ( IN than ) ( S-NOM ( VP ( VBN expected ) ) ) ) ) ( S-ADV ( VP ( VBG rendering ) ( S ( NP-SBJ ( DT the ) ( NN outlook ) ) ( ADJP-PRD ( JJ doubtful ) ) ) ( PP-TMP ( IN for ) ( NP ( DT the ) ( JJ next ) ( JJ few ) ( NNS quarters ) ) ) ) ) ) ) ) ) )

International Business Machines Corp. said earnings tumbled 30 % in the third quarter even a bit further than expected rendering the outlook doubtful for the next few quarters


( S ( NP-SBJ ( DT The ) ( JJ main ) ( NN reason ) ) ( VP ( VBD was ) ( NP-PRD ( NP ( DT a ) ( NN delay ) ) ( PP ( IN in ) ( NP ( NP ( NN shipment ) ) ( PP ( IN of ) ( NP ( NP ( JJ new ) ( JJ high-end ) ( NN disk ) ( NNS drives ) ) ( NP ( NP ( DT a ) ( NN business ) ) ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( VP ( VBZ accounts ) ( PP-CLR ( IN for ) ( NP ( NP ( QP ( DT some ) ( CD 10 ) ) ( NN % ) ) ( PP ( IN of ) ( NP ( NP ( NP ( NNP IBM ) ( POS 's ) ) ( QP ( CD 60 ) ( CD billion ) ) ) ( PP ( IN of ) ( NP ( JJ annual ) ( NN revenue ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

The main reason was a delay in shipment of new high-end disk drives a business that accounts for some 10 % of IBM 's 60 billion of annual revenue


( S ( NP-SBJ ( NP ( NNP IBM ) ) ( SBAR ( WHNP-1 ( WDT which ) ) ( S ( VP ( VBD telegraphed ) ( NP ( DT the ) ( JJ poor ) ( NNS results ) ) ( ADVP-TMP ( NP ( CD three ) ( NNS weeks ) ) ( RB ago ) ) ) ) ) ) ( ADVP ( RB also ) ) ( VP ( VBD cited ) ( NP ( NP ( DT an ) ( NN increase ) ) ( PP ( IN in ) ( NP ( NP ( PRP$ its ) ( NN leasing ) ( NN business ) ) ( SBAR ( WHNP-2 ( WDT which ) ) ( S ( VP ( VBZ tends ) ( S ( VP ( TO to ) ( VP ( VP ( VB lock ) ( PRT ( RP in ) ) ( NP ( NN business ) ) ( ADVP-TMP ( NNS long-term ) ) ) ( CC but ) ( VP ( VBN cut ) ( NP ( NN revenue ) ) ( PP-TMP ( IN in ) ( NP ( DT the ) ( JJ near ) ( NN term ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

IBM which telegraphed the poor results three weeks ago also cited an increase in its leasing business which tends to lock in business long-term but cut revenue in the near term


( S ( PP ( IN In ) ( NP ( NN addition ) ) ) ( NP-SBJ ( NNP IBM ) ) ( VP ( VBD noted ) ( SBAR ( IN that ) ( S ( NP-SBJ ( DT the ) ( JJR stronger ) ( NN dollar ) ) ( VP ( VBZ has ) ( VP ( VBN cut ) ( NP ( NP ( DT the ) ( NN value ) ) ( PP ( IN of ) ( NP ( JJ overseas ) ( NN revenue ) ( CC and ) ( NNS earnings ) ) ) ) ( SBAR-TMP ( WHADVP ( WRB when ) ) ( S ( NP-SBJ-1 ( PRP they ) ) ( VP ( VBP are ) ( VP ( VBN translated ) ( PP-CLR ( IN into ) ( NP ( NNS dollars ) ) ) ) ) ) ) ) ) ) ) ) )

In addition IBM noted that the stronger dollar has cut the value of overseas revenue and earnings when they are translated into dollars


( S ( NP-SBJ ( NNS Earnings ) ) ( VP ( VBD fell ) ( PP-DIR ( TO to ) ( NP ( NP ( QP ( CD 877 ) ( CD million ) ) ) ( CC or ) ( NP ( NP ( CD 1.51 ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ) ( PP ( RB somewhat ) ( IN below ) ( NP ( NP ( NP ( NNS securities ) ( NNS analysts ) ( POS ' ) ) ( JJ revised ) ( NNS expectations ) ) ( PP ( IN of ) ( NP ( NP ( QP ( IN around ) ( CD 1.60 ) ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ) ) ) )

Earnings fell to 877 million or 1.51 a share somewhat below securities analysts ' revised expectations of around 1.60 a share


( S ( NP-SBJ ( IN That ) ) ( VP ( VBN compared ) ( PP-CLR ( IN with ) ( NP ( NP ( NP ( DT the ) ( JJ year-earlier ) ( QP ( CD 1.25 ) ( CD billion ) ) ) ( CC or ) ( NP ( NP ( CD 2.10 ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ( SBAR ( WHNP-2 ( WDT which ) ) ( S ( VP ( VBD was ) ( VP ( VBN inflated ) ( PP ( PP ( IN by ) ( NP-LGS ( NP ( DT a ) ( JJ 15-cents-a-share ) ( NN gain ) ) ( PP ( IN from ) ( NP ( NP ( DT the ) ( NN sale ) ) ( PP ( IN of ) ( NP ( DT some ) ( NNP MCI ) ( NNPS Communications ) ( NNP Corp. ) ( NN stock ) ) ) ) ) ) ) ( CC and ) ( PP ( IN by ) ( NP-LGS ( NP ( DT an ) ( JJ unspecified ) ( NN amount ) ) ( PP ( IN from ) ( NP ( NP ( DT a ) ( NN payment ) ) ( PP ( IN by ) ( NP ( NNP Fujitsu ) ( NNP Ltd. ) ) ) ( VP ( VBG relating ) ( PP-CLR ( TO to ) ( NP ( DT a ) ( NN software ) ( NN dispute ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

That compared with the year-earlier 1.25 billion or 2.10 a share which was inflated by a 15-cents-a-share gain from the sale of some MCI Communications Corp. stock and by an unspecified amount from a payment by Fujitsu Ltd. relating to a software dispute


( S ( NP-SBJ ( NN Revenue ) ) ( VP ( VBD climbed ) ( NP-EXT ( CD 4.3 ) ( NN % ) ) ( PP-DIR ( TO to ) ( NP ( QP ( CD 14.31 ) ( CD billion ) ) ) ) ( PP-DIR ( IN from ) ( NP ( QP ( CD 13.71 ) ( CD billion ) ) ) ) ) )

Revenue climbed 4.3 % to 14.31 billion from 13.71 billion


( S ( NP-SBJ ( NP ( NNP IBM ) ) ( NP-LOC ( NP ( NNP Armonk ) ) ( NP ( NNP N.Y. ) ) ) ) ( VP ( VBD remained ) ( ADJP-PRD ( JJ upbeat ) ) ) )

IBM Armonk N.Y. remained upbeat


( S ( NP-SBJ ( NP ( DT The ) ( NN computer ) ( NN giant ) ) ( SBAR ( WP$ whose ) ( S ( NP-SBJ ( NNP U.S. ) ( NNS results ) ) ( VP ( VBP have ) ( VP ( VBN been ) ( ADJP-PRD ( JJ dismal ) ) ( PP-TMP ( IN for ) ( NP ( NNS years ) ) ) ) ) ) ) ) ( VP ( VBN noted ) ( SBAR ( DT that ) ( S ( NP-SBJ ( NN revenue ) ) ( VP ( VBD rose ) ( ADVP ( RB again ) ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( NNP U.S. ) ) ) ( PP-TMP ( IN in ) ( NP ( DT the ) ( JJ third ) ( NN quarter ) ) ) ( PP ( VBG following ) ( NP ( NP ( DT an ) ( NN increase ) ) ( PP-TMP ( IN in ) ( NP ( DT the ) ( JJ second ) ( NN period ) ) ) ) ) ) ) ) ) )

The computer giant whose U.S. results have been dismal for years noted that revenue rose again in the U.S. in the third quarter following an increase in the second period


( S ( NP-SBJ ( DT The ) ( NN company ) ) ( VP ( VBD said ) ( PP-LOC ( IN in ) ( NP ( DT a ) ( NN statement ) ) ) ( SBAR ( IN that ) ( S ( NP-SBJ-1 ( NP ( NN demand ) ) ( PP ( IN for ) ( NP ( NNP IBM ) ( NNS products ) ( CC and ) ( NNS services ) ) ) ) ( VP ( VBZ continues ) ( S ( VP ( TO to ) ( VP ( VB be ) ( ADJP-PRD ( JJ good ) ) ( ADVP-LOC ( RB world-wide ) ) ) ) ) ) ) ) ) )

The company said in a statement that demand for IBM products and services continues to be good world-wide


( S ( NP-SBJ ( PRP We ) ) ( VP ( VBP do ) ( RB not ) ( VP ( VB see ) ( NP ( NP ( NN anything ) ) ) ( PP-LOC ( IN in ) ( NP ( NP ( DT the ) ( NNS fundamentals ) ) ( PP ( IN of ) ( NP ( PRP$ our ) ( NN business ) ) ) ) ) ( SBAR-1 ( WHNP-2 ( WDT that ) ) ( S ( VP ( MD would ) ( VP ( VB cause ) ( S ( NP-SBJ ( PRP us ) ) ( VP ( TO to ) ( VP ( VB change ) ( NP ( NP ( PRP$ our ) ( NN strategy ) ) ( PP ( IN of ) ( S-NOM ( VP ( VBG investing ) ( PP-PRP ( IN for ) ( NP ( JJ profitable ) ( NN growth ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

We do not see anything in the fundamentals of our business that would cause us to change our strategy of investing for profitable growth


( S ( NP-SBJ ( NNS Securities ) ( NNS analysts ) ) ( ADVP ( RB however ) ) ( VP ( VBD remained ) ( ADJP-PRD ( JJ downbeat ) ) ) )

Securities analysts however remained downbeat


( SINV ( S-TPC-1 ( NP-SBJ ( PRP I ) ) ( VP ( VBP think ) ( SBAR ( S ( NP-SBJ ( CD 1990 ) ) ( VP ( MD will ) ( VP ( VB be ) ( NP-PRD ( DT another ) ( JJ mediocre ) ( NN year ) ) ) ) ) ) ) ) ( VP ( VBD said ) ) ( NP-SBJ ( NP ( NNP Steve ) ( NNP Milunovich ) ) ( PP ( IN of ) ( NP ( NNP First ) ( NNP Boston ) ) ) ) )

I think 1990 will be another mediocre year said Steve Milunovich of First Boston


( S ( NP-SBJ ( NP ( NNP Jay ) ( NNP Stevens ) ) ( PP ( IN of ) ( NP ( NNP Dean ) ( NNP Witter ) ) ) ) ( VP ( ADVP ( RB actually ) ) ( VBD cut ) ( NP ( PRP$ his ) ( JJ per-share ) ( NNS earnings ) ( NN estimate ) ) ( PP-DIR ( PP ( TO to ) ( NP ( CD 9 ) ) ) ( PP ( IN from ) ( NP ( NP ( CD 9.50 ) ) ( PP ( IN for ) ( NP ( CD 1989 ) ) ) ) ) ( CC and ) ( PP ( TO to ) ( NP ( CD 9.50 ) ) ) ( PP ( IN from ) ( NP ( CD 10.35 ) ) ( PP-TMP ( IN in ) ( NP ( CD 1990 ) ) ) ) ) ( SBAR-PRP ( IN because ) ( S ( NP-SBJ ( PRP he ) ) ( VP ( VBD decided ) ( SBAR ( S ( NP-SBJ ( NNS sales ) ) ( VP ( MD would ) ( VP ( VB be ) ( ADJP-PRD ( ADJP ( RB even ) ( JJR weaker ) ) ( SBAR ( IN than ) ( S ( NP-SBJ ( PRP he ) ) ( VP ( VBD had ) ( VP ( VBN expected ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Jay Stevens of Dean Witter actually cut his per-share earnings estimate to 9 from 9.50 for 1989 and to 9.50 from 10.35 in 1990 because he decided sales would be even weaker than he had expected


( S ( NP-SBJ ( DT Both ) ( NNS estimates ) ) ( VP ( MD would ) ( VP ( VB mark ) ( NP ( NP ( NNS declines ) ) ( PP ( IN from ) ( NP ( NP ( DT the ) ( CD 1988 ) ( NN net ) ) ( PP ( IN of ) ( NP ( NP ( QP ( CD 5.81 ) ( CD billion ) ) ) ( CC or ) ( NP ( NP ( CD 9.80 ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ) ( SBAR ( WHNP-2 ( WDT which ) ) ( S ( ADVP ( PRP itself ) ) ( VP ( VBD was ) ( PP-PRD ( ADVP ( RB well ) ) ( IN below ) ( NP ( NP ( DT the ) ( NN record ) ) ( SBAR ( S ( NP-SBJ ( NNP IBM ) ) ( VP ( VBD set ) ( PP-TMP ( IN in ) ( NP ( CD 1984 ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Both estimates would mark declines from the 1988 net of 5.81 billion or 9.80 a share which itself was well below the record IBM set in 1984


( S ( NP-SBJ ( NNP Mr. ) ( NNP Stevens ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( PRP he ) ) ( VP ( VBD kept ) ( NP ( NP ( DT a ) ( JJ buy\/hold ) ( NN recommendation ) ) ( PP ( IN on ) ( NP ( DT the ) ( NN stock ) ) ) ) ( SBAR-PRP ( RB only ) ( IN because ) ( S ( NP-SBJ-1 ( PDT all ) ( DT the ) ( NN damage ) ) ( VP ( VBZ has ) ( VP ( VBN been ) ( VP ( VBN done ) ) ) ) ) ) ) ) ) ) )

Mr. Stevens said he kept a buy\/hold recommendation on the stock only because all the damage has been done


( S ( NP-SBJ ( PRP He ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( DT the ) ( NN stock ) ) ( VP ( VBZ has ) ( RB n't ) ( VP ( VBN traded ) ( PP-LOC ( IN below ) ( NP ( NP ( QP ( CD 1 ) ( CD 1\/2 ) ( CC times ) ) ( NN book ) ( NN value ) ) ) ) ( PP-TMP ( IN over ) ( NP ( DT the ) ( JJ past ) ( CD 10 ) ( NNS years ) ) ) ( SBAR-3 ( WHNP ( WHNP-1 ( WDT which ) ) ( S ( PP-TMP ( IN at ) ( NP ( DT the ) ( NN moment ) ) ) ( VP ( VBZ computes ) ( PP-CLR ( TO to ) ( NP ( NP ( DT a ) ( NN stock ) ( NN price ) ) ( PP ( IN of ) ( NP ( CD 100 ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

He said the stock has n't traded below 1 1\/2 times book value over the past 10 years which at the moment computes to a stock price of 100


( S ( NP-SBJ ( DT The ) ( NN stock ) ) ( VP ( VBD closed ) ( NP-TMP ( NN yesterday ) ) ( PP-CLR ( IN at ) ( NP ( NP ( CD 103 ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ( ADVP ( RB up ) ( NP ( QP ( RB just ) ( CD 1 ) ) ) ) ( PP-LOC ( IN in ) ( NP ( NP ( JJ composite ) ( NN trading ) ) ( PP-LOC ( IN on ) ( NP ( DT the ) ( NNP New ) ( NNP York ) ( NNP Stock ) ( NNP Exchange ) ) ) ) ) ( SBAR-ADV ( IN as ) ( S ( NP-SBJ ( DT the ) ( NN market ) ) ( VP ( VBD surged ) ) ) ) ) )

The stock closed yesterday at 103 a share up just 1 in composite trading on the New York Stock Exchange as the market surged


( S ( NP-SBJ ( NNS Analysts ) ) ( VP ( VBP worry ) ( SBAR ( IN that ) ( S ( NP-SBJ ( DT the ) ( NN disk-drive ) ( CC and ) ( NN leasing ) ( NNS problems ) ) ( VP ( MD will ) ( VP ( VB last ) ( PP-TMP ( ADVP ( IN at ) ( JJS least ) ) ( IN through ) ( NP ( DT the ) ( JJ first ) ( NN quarter ) ) ) ) ) ) ) ) )

Analysts worry that the disk-drive and leasing problems will last at least through the first quarter


( SINV ( S-TMP-TPC-3 ( NP-SBJ ( NP ( DT A ) ( JJ key ) ( NN part ) ) ( PP ( IN of ) ( NP ( DT the ) ( NN question ) ) ) ) ( VP ( VBZ is ) ( SBARQ-PRD ( SBARQ ( WHADVP-1 ( WRB how ) ( RB soon ) ) ( SQ ( VBZ does ) ( NP-SBJ ( DT this ) ( NN disk-drive ) ) ( VP ( VB come ) ) ) ) ( CC and ) ( SBARQ ( WHADVP-2 ( WRB how ) ( RB soon ) ) ( SQ ( VBZ does ) ( NP-SBJ ( NN production ) ) ( VP ( VB ramp ) ( PRT ( RP up ) ) ) ) ) ) ) ) ( VP ( VBD said ) ) ( NP-SBJ ( NP ( NNP Steve ) ( NNP Cohen ) ) ( PP-LOC ( IN at ) ( NP ( NNP SoundView ) ( NNP Financial ) ( NNP Group ) ) ) ) )

A key part of the question is how soon does this disk-drive come and how soon does production ramp up said Steve Cohen at SoundView Financial Group


( S ( CC And ) ( NP-SBJ ( NP ( DT the ) ( NN input ) ) ( SBAR ( S ( NP-SBJ ( PRP I ) ) ( VP ( VBP 've ) ( VP ( VBN had ) ( PP ( IN from ) ( NP ( NNS customers ) ) ) ) ) ) ) ) ( VP ( VBZ is ) ( SBAR-PRD ( IN that ) ( S ( NP-SBJ ( PRP it ) ) ( ADVP ( RB still ) ) ( VP ( MD could ) ( VP ( VB be ) ( NP-PRD ( DT a ) ( NN while ) ) ) ) ) ) ) )

And the input I 've had from customers is that it still could be a while


( S ( PP ( IN On ) ( NP ( NN leasing ) ) ) ( NP-SBJ ( NP ( NNP Bob ) ( NNP Djurdjevic ) ) ( PP-LOC ( IN at ) ( NP ( NNP Annex ) ( NNP Research ) ) ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( PRP he ) ) ( VP ( VBZ thinks ) ( SBAR ( S ( NP-SBJ ( NNP IBM ) ) ( VP ( VBZ has ) ( VP ( VBN hurt ) ( NP ( PRP itself ) ) ( ADVP ( RB unnecessarily ) ) ) ) ) ) ) ) ) ) )

On leasing Bob Djurdjevic at Annex Research said he thinks IBM has hurt itself unnecessarily


( S ( NP-SBJ ( PRP He ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ-1 ( NNP IBM ) ) ( VP ( VBZ has ) ( VP ( VBN priced ) ( NP ( PRP$ its ) ( NNS leases ) ) ( ADVP-MNR ( RB aggressively ) ) ( S-ADV ( VP ( VBG thinking ) ( SBAR ( S ( NP-SBJ-2 ( DT that ) ) ( VP ( MD would ) ( VP ( VB help ) ( S ( VP ( VB win ) ( NP ( NN business ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

He said IBM has priced its leases aggressively thinking that would help win business


( S ( CC But ) ( NP-SBJ ( PRP he ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( NNP IBM ) ) ( VP ( MD would ) ( VP ( VB have ) ( VP ( VBN won ) ( NP ( DT the ) ( NN business ) ) ( ADVP ( RB anyway ) ) ( PP-CLR ( IN as ) ( NP ( NP ( DT a ) ( NN sale ) ) ( PP ( TO to ) ( NP ( NP ( DT a ) ( JJ third ) ( NN party ) ) ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( VP ( MD would ) ( VP ( VB have ) ( ADVP-TMP ( RB then ) ) ( VP ( VBN leased ) ( NP ( DT the ) ( NN equipment ) ) ( PP-CLR ( TO to ) ( NP ( DT the ) ( NN customer ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

But he said IBM would have won the business anyway as a sale to a third party that would have then leased the equipment to the customer


( S ( NP-SBJ ( PRP He ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( NNP IBM ) ) ( VBZ has ) ( VP ( RB not ) ( RB only ) ( VP ( VB hurt ) ( NP ( PRP$ its ) ( JJ short-term ) ( NN revenue ) ( NN outlook ) ) ) ( CC but ) ( VP ( VBZ has ) ( RB also ) ( VP ( VBN been ) ( VP ( VBG losing ) ( NP ( NN money ) ) ( PP-CLR ( IN on ) ( NP ( PRP$ its ) ( NNS leases ) ) ) ) ) ) ) ) ) ) )

He said IBM has not only hurt its short-term revenue outlook but has also been losing money on its leases


( S ( NP-SBJ ( NP ( NNP Bob ) ( NNP Bardagy ) ) ( NP ( NP ( NN executive ) ( NN vice ) ( NN president ) ) ( PP ( IN of ) ( NP ( NN marketing ) ) ) ( PP-LOC ( IN at ) ( NP ( NP ( NNP Comdisco ) ( NNP Inc. ) ) ( NP ( DT a ) ( JJ huge ) ( NN leasing ) ( NN firm ) ) ) ) ) ) ( VP ( VBD said ) ( S ( S-ADV ( VP ( TO To ) ( VP ( VB put ) ( NP ( PRP it ) ) ( ADVP-MNR ( RB mildly ) ) ) ) ) ( NP-SBJ ( NNP IBM ) ( NNP Credit ) ) ( VP ( VBZ has ) ( VP ( VBN been ) ( VP ( VBG doing ) ( NP ( NP ( DT some ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( JJS worst ) ( JJ economic ) ( NNS deals ) ) ( PP ( IN of ) ( NP ( NP ( DT any ) ( NN leasing ) ( NN company ) ) ( SBAR ( S ( NP-SBJ ( PRP we ) ) ( VP ( VBP have ) ( ADVP-TMP ( RB ever ) ) ( VP ( VBN seen ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Bob Bardagy executive vice president of marketing at Comdisco Inc. a huge leasing firm said To put it mildly IBM Credit has been doing some of the worst economic deals of any leasing company we have ever seen


( S ( NP-SBJ-1 ( NNP IBM ) ) ( VP ( VBZ is ) ( VP ( VBN expected ) ( S ( VP ( TO to ) ( VP ( VB get ) ( NP ( DT a ) ( NN boost ) ) ( ADVP-TMP ( RB soon ) ) ( SBAR-TMP ( WHADVP ( WRB when ) ) ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBZ announces ) ( NP ( NP ( DT some ) ( JJ new ) ( NNS versions ) ) ( PP ( IN of ) ( NP ( PRP$ its ) ( NNS mainframes ) ) ) ) ) ) ) ) ) ) ) ) )

IBM is expected to get a boost soon when it announces some new versions of its mainframes


( S ( CC But ) ( NP-SBJ ( NP ( DT the ) ( JJ basic ) ( NN technology ) ) ( PP ( IN in ) ( NP ( DT the ) ( NN line ) ) ) ) ( VP ( VP ( VBZ is ) ( ADJP-PRD ( NP-ADV ( QP ( RB almost ) ( CD five ) ) ( NNS years ) ) ( JJ old ) ) ) ( SBAR-ADV ( WHNP-1 ( WDT which ) ) ( S ( VP ( VBZ means ) ( SBAR ( S ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBZ is ) ( ADJP-PRD ( JJ long ) ( PP ( IN in ) ( NP ( DT the ) ( NN tooth ) ) ) ) ) ) ( CC and ) ( S ( NP-SBJ ( NNS competitors ) ) ( VP ( VBP are ) ( VP ( VBG rolling ) ( PRT ( RP out ) ) ( NP ( NP ( JJ strong ) ( NNS products ) ) ( PP ( IN of ) ( NP ( PRP$ their ) ( JJ own ) ) ) ) ) ) ) ) ) ) ) ) ) )

But the basic technology in the line is almost five years old which means it is long in the tooth and competitors are rolling out strong products of their own


( S ( NP-SBJ ( NNP IBM ) ) ( VP ( VBZ is ) ( VP ( VBG gaining ) ( NP ( NN momentum ) ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( NN personal-computer ) ( NN market ) ) ) ) ( CC and ) ( VP ( VBZ is ) ( VP ( VBN expected ) ( S ( VP ( TO to ) ( VP ( VB introduce ) ( NP ( DT some ) ( JJ impressive ) ( NNS workstations ) ) ( NP-TMP ( JJ early ) ( JJ next ) ( NN year ) ) ) ) ) ) ) ) )

IBM is gaining momentum in the personal-computer market and is expected to introduce some impressive workstations early next year


( S ( CC But ) ( S ( NP-SBJ ( NP ( PRP it ) ) ) ( VP ( VBZ 's ) ( ADJP-PRD ( JJ hard ) ) ( S-1 ( VP ( TO to ) ( VP ( VB squeeze ) ( NP ( JJ much ) ( NN profit ) ) ( PP-CLR ( IN out ) ( PP ( IN of ) ( NP ( DT the ) ( NN personal-computer ) ( NN business ) ) ) ) ( NP-TMP ( DT these ) ( NNS days ) ) ) ) ) ) ) ( CC and ) ( S ( NP-SBJ ( NP ( DT the ) ( NN workstation ) ( NN market ) ) ( PP ( IN while ) ( ADJP ( JJ important ) ) ) ) ( VP ( VBZ is ) ( ADJP-PRD ( RB too ) ( JJ small ) ( S ( VP ( TO to ) ( VP ( VB rely ) ( PRT ( RP on ) ) ( PP-PRP ( IN for ) ( NP ( JJ much ) ( NN growth ) ) ) ) ) ) ) ) ) )

But it 's hard to squeeze much profit out of the personal-computer business these days and the workstation market while important is too small to rely on for much growth


( S ( NP-SBJ ( DT The ) ( NN disk ) ( NNS drives ) ) ( VP ( MD will ) ( ADVP ( RB doubtless ) ) ( VP ( VB sell ) ( ADVP-MNR ( RB well ) ) ( SBAR-TMP ( WHADVP-1 ( WRB when ) ) ( S ( NP-SBJ ( PRP they ) ) ( ADVP ( RB finally ) ) ( VP ( VBP become ) ( ADJP-PRD ( JJ available ) ) ) ) ) ) ) )

The disk drives will doubtless sell well when they finally become available


( S ( S ( CC But ) ( NP-SBJ ( NP ( DT the ) ( NN AS\/400 ) ) ( NP ( NP ( NNP IBM ) ( POS 's ) ) ( ADJP ( RB highly ) ( JJ successful ) ) ( NN minicomputer ) ( NN line ) ) ) ( VP ( VBZ is ) ( VP ( VBG losing ) ( NP ( PRP$ its ) ( NN momentum ) ) ) ) ) ( CC and ) ( S ( NP-SBJ ( DT some ) ( NNS analysts ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( NNS sales ) ) ( VP ( MD could ) ( ADVP ( RB even ) ) ( VP ( VB decline ) ( PP-TMP ( IN in ) ( NP ( DT the ) ( JJ fourth ) ( NN quarter ) ) ) ) ) ) ) ) ) )

But the AS\/400 IBM 's highly successful minicomputer line is losing its momentum and some analysts said sales could even decline in the fourth quarter


( S ( PP ( IN In ) ( NP ( NN addition ) ) ) ( NP-SBJ ( NP ( NP ( NNP IBM ) ( POS 's ) ) ( NN growth ) ) ( PP-LOC ( IN in ) ( NP ( NN software ) ) ) ( PP-TMP ( IN in ) ( NP ( DT the ) ( JJ third ) ( NN quarter ) ) ) ) ( VP ( VBD was ) ( NP-PRD ( QP ( RB just ) ( CD 8.8 ) ) ( NN % ) ) ( PP ( ADVP ( RB well ) ) ( IN below ) ( NP ( JJ historical ) ( NNS levels ) ) ) ( SBAR-ADV ( RB even ) ( WHADVP-2 ( WRB when ) ) ( S ( VP ( VBN adjusted ) ( S-PRP ( VP ( TO to ) ( VP ( VB reflect ) ( NP ( NP ( NP ( NP ( JJ last ) ( NN year ) ( POS 's ) ) ( NN payment ) ) ( PP ( IN from ) ( NP ( NNP Fujitsu ) ) ) ) ( CC and ) ( NP ( DT the ) ( JJR stronger ) ( NN dollar ) ) ) ) ) ) ) ) ) ) )

In addition IBM 's growth in software in the third quarter was just 8.8 % well below historical levels even when adjusted to reflect last year 's payment from Fujitsu and the stronger dollar


( S ( CC And ) ( NP-SBJ ( NP ( NNS expenses ) ) ( ADVP ( RB up ) ( NP ( CD 7.9 ) ( NN % ) ) ( PP-TMP ( IN in ) ( NP ( DT the ) ( NN quarter ) ) ) ) ) ( VP ( VBP have ) ( VP ( VBN stayed ) ( ADJP-PRD ( RB stubbornly ) ( JJ high ) ) ) ) )

And expenses up 7.9 % in the quarter have stayed stubbornly high


( S ( PP-TMP ( IN In ) ( NP ( DT the ) ( CD nine ) ( NNS months ) ) ) ( NP-SBJ ( NNP IBM ) ) ( VP ( VBD earned ) ( NP ( NP ( QP ( CD 3.17 ) ( CD billion ) ) ) ( CC or ) ( NP ( NP ( CD 5.43 ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ( ADVP ( RB down ) ( NP ( CD 8.4 ) ( NN % ) ) ( PP-TMP ( IN from ) ( NP ( DT the ) ( JJ year-earlier ) ( NX ( NX ( QP ( CD 3.46 ) ( CD billion ) ) ) ( CC or ) ( NX ( NP ( CD 5.83 ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ) ) ) ) ) )

In the nine months IBM earned 3.17 billion or 5.43 a share down 8.4 % from the year-earlier 3.46 billion or 5.83 a share


( S ( NP-SBJ ( NN Revenue ) ) ( VP ( VBN increased ) ( NP-EXT ( CD 6.5 ) ( NN % ) ) ( PP-DIR ( TO to ) ( NP ( QP ( CD 42.25 ) ( CD billion ) ) ) ) ( PP-DIR ( IN from ) ( NP ( QP ( CD 39.68 ) ( CD billion ) ) ) ) ) )

Revenue increased 6.5 % to 42.25 billion from 39.68 billion


( NP ( NP ( NP ( VBN Annualized ) ( NN interest ) ( NNS rates ) ) ( PP ( IN on ) ( NP ( JJ certain ) ( NNS investments ) ) ) ( SBAR ( IN as ) ( S ( VP ( VBN reported ) ( PP ( IN by ) ( NP ( DT the ) ( NNP Federal ) ( NNP Reserve ) ( NNP Board ) ) ) ( PP-MNR ( IN on ) ( NP ( DT a ) ( JJ weekly-average ) ( NN basis ) ) ) ) ) ) ) ( NP-TMP ( NP ( CD 1989 ) ) ( CC and ) ( NP ( NP ( NNP Wednesday ) ) ( NP ( NP ( NNP October ) ( CD 4 ) ) ( NP ( CD 1989 ) ) ) ) ) )

Annualized interest rates on certain investments as reported by the Federal Reserve Board on a weekly-average basis 1989 and Wednesday October 4 1989


( NP ( NP ( NNS c-Yields ) ) ( VP ( VBN adjusted ) ( PP-CLR ( IN for ) ( NP ( JJ constant ) ( NN maturity ) ) ) ) )

c-Yields adjusted for constant maturity


( S ( NP-SBJ ( NP ( NNP Britain ) ( POS 's ) ) ( JJ industrial ) ( NN production ) ) ( VP ( VP ( VBD rose ) ( NP-EXT ( CD 1.5 ) ( NN % ) ) ( PP-TMP ( IN in ) ( NP ( NNP August ) ) ) ( PP-TMP ( IN from ) ( NP ( NNP July ) ) ) ) ( CC and ) ( VP ( VBD was ) ( ADVP-PRD ( IN up ) ( NP ( CD 0.9 ) ( NN % ) ) ( PP-TMP ( IN from ) ( NP ( NP ( NNP August ) ) ( NP ( CD 1988 ) ) ) ) ) ) ( PP ( VBG according ) ( PP ( TO to ) ( NP ( NP ( JJ provisional ) ( NNS data ) ) ( PP ( IN from ) ( NP ( DT the ) ( NNP Central ) ( NNP Statistical ) ( NNP Office ) ) ) ) ) ) ) )

Britain 's industrial production rose 1.5 % in August from July and was up 0.9 % from August 1988 according to provisional data from the Central Statistical Office


( S ( NP-SBJ ( NP ( NN Output ) ) ( PP ( IN in ) ( NP ( DT the ) ( NN energy ) ( NN sector ) ) ) ( SBAR ( WHNP-1 ( WDT which ) ) ( S ( VP ( MD can ) ( VP ( VB vary ) ( ADVP-MNR ( RB greatly ) ) ( PP ( IN with ) ( NP ( NP ( NNS swings ) ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( NN oil ) ( NN market ) ) ) ) ) ) ) ) ) ) ( VP ( VP ( VBD rose ) ( NP-EXT ( CD 3.8 ) ( NN % ) ) ( PP-TMP ( IN in ) ( NP ( NNP August ) ) ) ( PP-TMP ( IN from ) ( NP ( NNP May ) ) ) ) ( CC but ) ( VP ( VBD was ) ( ADVP-PRD ( RB down ) ( NP ( CD 7.1 ) ( NN % ) ) ( PP-TMP ( IN from ) ( ADVP ( NP ( DT a ) ( NN year ) ) ( RB earlier ) ) ) ) ) ) )

Output in the energy sector which can vary greatly with swings in the oil market rose 3.8 % in August from May but was down 7.1 % from a year earlier


( S ( NP-SBJ ( DT The ) ( JJS latest ) ( NNS figures ) ) ( VP ( VBP compare ) ( PP-CLR ( IN with ) ( NP ( NP ( NP ( NNP July ) ( POS 's ) ) ( ADJP ( CD 4.5 ) ( NN % ) ) ( JJ month-to-month ) ( NN rise ) ) ( CC and ) ( NP ( ADJP ( CD 11.3 ) ( NN % ) ) ( JJ year-to-year ) ( NN fall ) ) ) ) ) )

The latest figures compare with July 's 4.5 % month-to-month rise and 11.3 % year-to-year fall


( S ( NP-SBJ ( NP ( NNP Donald ) ( NNP Trump ) ) ( SBAR ( WHNP-1 ( WP who ) ) ( S ( VP ( VBD faced ) ( NP ( NP ( VBG rising ) ( NN doubt ) ) ( PP ( IN about ) ( NP ( NP ( PRP$ his ) ( NN bid ) ) ( PP ( IN for ) ( NP ( NNP American ) ( NNPS Airlines ) ( NN parent ) ( NNP AMR ) ( NNP Corp. ) ) ) ) ) ) ( SBAR-TMP ( RB even ) ( IN before ) ( S ( NP-SBJ ( DT a ) ( NNP United ) ( NNPS Airlines ) ( NN buy-out ) ) ( VP ( VBD came ) ( ADVP-CLR ( RB apart ) ) ( NP-TMP ( NNP Friday ) ) ) ) ) ) ) ) ) ( VP ( VBD withdrew ) ( NP ( PRP$ his ) ( ADJP ( QP ( CD 7.54 ) ( CD billion ) ) ) ( NN offer ) ) ) )

Donald Trump who faced rising doubt about his bid for American Airlines parent AMR Corp. even before a United Airlines buy-out came apart Friday withdrew his 7.54 billion offer


( S ( ADVP ( RB Separately ) ) ( NP-SBJ ( NP ( NNS bankers ) ) ( VP ( VBG representing ) ( NP ( NP ( DT the ) ( NN group ) ) ( VP ( VBG trying ) ( S ( VP ( TO to ) ( VP ( VB buy ) ( NP ( NP ( NNP United ) ( POS 's ) ) ( NN parent ) ( NNP UAL ) ( NNP Corp. ) ) ) ) ) ) ) ) ) ( VP ( VBD met ) ( PP-CLR ( IN with ) ( NP ( JJ other ) ( NNS banks ) ) ) ( PP-CLR ( IN about ) ( S-NOM ( VP ( VBG reviving ) ( NP ( DT that ) ( NN purchase ) ) ( PP-CLR ( IN at ) ( NP ( NP ( DT a ) ( JJR lower ) ( NN price ) ) ( NP ( NP ( NP ( RB possibly ) ( QP ( IN around ) ( CD 250 ) ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ( CC or ) ( NP ( QP ( CD 5.65 ) ( CD billion ) ) ) ) ) ) ) ) ) ) )

Separately bankers representing the group trying to buy United 's parent UAL Corp. met with other banks about reviving that purchase at a lower price possibly around 250 a share or 5.65 billion


( S ( CC But ) ( NP-SBJ ( DT a ) ( JJR lower ) ( NN bid ) ) ( VP ( MD could ) ( VP ( VB face ) ( NP ( NP ( NN rejection ) ) ( PP ( IN by ) ( NP ( DT the ) ( NNP UAL ) ( NN board ) ) ) ) ) ) )

But a lower bid could face rejection by the UAL board


( S ( NP-SBJ ( NP ( NNP Mr. ) ( NNP Trump ) ) ( SBAR ( WHNP-1 ( WP who ) ) ( S ( VP ( VBD vowed ) ( NP-TMP ( NNP Wednesday ) ) ( S ( VP ( TO to ) ( VP ( VB go ) ( ADVP-DIR ( RB forward ) ) ( PP-CLR ( IN with ) ( NP ( DT the ) ( NN bid ) ) ) ) ) ) ) ) ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( PRP he ) ) ( VP ( VBD was ) ( VP ( VBG dropping ) ( NP ( PRP it ) ) ( PP ( IN in ) ( NP ( NP ( NN light ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( JJ recent ) ( NN change ) ) ( PP-LOC ( IN in ) ( NP ( NN market ) ( NNS conditions ) ) ) ) ) ) ) ) ) ) ) ) )

Mr. Trump who vowed Wednesday to go forward with the bid said he was dropping it in light of the recent change in market conditions


( S ( NP-SBJ ( PRP He ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( PRP he ) ) ( VP ( MD might ) ( ADVP-TMP ( RB now ) ) ( VP ( VP ( VB sell ) ( NP ( PRP$ his ) ( NNP AMR ) ( NN stake ) ) ) ( VP ( VB buy ) ( NP ( JJR more ) ( NNS shares ) ) ) ( CC or ) ( VP ( VB make ) ( NP ( DT another ) ( NN offer ) ) ( PP ( IN at ) ( NP ( DT a ) ( JJR lower ) ( NN price ) ) ) ) ) ) ) ) ) )

He said he might now sell his AMR stake buy more shares or make another offer at a lower price


( S ( NP-SBJ ( DT The ) ( NNP Manhattan ) ( NN real-estate ) ( NN developer ) ) ( VP ( VBD acted ) ( SBAR-TMP ( IN after ) ( S ( NP-SBJ-3 ( DT the ) ( NNP UAL ) ( NNS buyers ) ) ( VP ( VBD failed ) ( S ( VP ( TO to ) ( VP ( VB obtain ) ( NP ( NP ( NN financing ) ) ( PP ( IN for ) ( NP ( NP ( PRP$ their ) ( JJR earlier ) ( ADJP ( JJ 300-a-share ) ) ( NN bid ) ) ( SBAR ( WHNP-1 ( WDT which ) ) ( S ( VP ( VBD sparked ) ( NP ( NP ( DT a ) ( NN selling ) ( NN panic ) ) ( PP ( IN among ) ) ( SBAR ( WHNP-2 ( DT that ) ) ( S ( VP ( VBD snowballed ) ( PP ( IN into ) ( NP ( NP ( DT a ) ( JJ 190-point ) ( NN drop ) ) ( NP-TMP ( NNP Friday ) ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( NNP Dow ) ( NNP Jones ) ( NNP Industrial ) ( NNP Average ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

The Manhattan real-estate developer acted after the UAL buyers failed to obtain financing for their earlier 300-a-share bid which sparked a selling panic among that snowballed into a 190-point drop Friday in the Dow Jones Industrial Average


( S ( NP-SBJ ( NP ( NN News ) ) ( PP ( IN about ) ( NP ( NP ( NNP UAL ) ( CC and ) ( NNP AMR ) ) ( SBAR ( WHNP-2 ( WP$ whose ) ( NNS shares ) ) ( S ( VP ( ADVP-TMP ( RB never ) ) ( VBN reopened ) ( SBAR-TMP ( IN after ) ( S ( NP-SBJ-1 ( NN trading ) ) ( VP ( VBD was ) ( VP ( VBN halted ) ( NP-TMP ( NNP Friday ) ) ( PP-PRP ( IN for ) ( NP ( DT the ) ( NNP UAL ) ( NN announcement ) ) ) ) ) ) ) ) ) ) ) ) ) ( VP ( VBD sent ) ( S ( NP-SBJ ( DT both ) ( NNS stocks ) ) ( VP ( VBG nosediving ) ( PP-LOC ( IN in ) ( NP ( NP ( JJ composite ) ( NN trading ) ) ( PP-LOC ( IN on ) ( NP ( DT the ) ( NNP New ) ( NNP York ) ( NNP Stock ) ( NNP Exchange ) ) ) ) ) ) ) ) )

News about UAL and AMR whose shares never reopened after trading was halted Friday for the UAL announcement sent both stocks nosediving in composite trading on the New York Stock Exchange


( S ( S ( NP-SBJ ( NNP UAL ) ) ( VP ( VBD tumbled ) ( NP-EXT ( CD 56.875 ) ) ( PP-DIR ( TO to ) ( NP ( CD 222.875 ) ) ) ( PP-DIR ( IN on ) ( NP ( NP ( NN volume ) ) ( PP ( IN of ) ( NP ( QP ( CD 2.3 ) ( CD million ) ) ( NNS shares ) ) ) ) ) ) ) ( CC and ) ( S ( NP-SBJ ( NNP AMR ) ) ( VP ( VBN declined ) ( PP-EXT ( IN by ) ( NP ( CD 22.125 ) ) ) ( PP-DIR ( TO to ) ( NP ( CD 76.50 ) ) ) ( SBAR-TMP ( IN as ) ( S ( NP-SBJ ( QP ( CD 4.7 ) ( CD million ) ) ( NNS shares ) ) ( VP ( VBD changed ) ( NP ( NNS hands ) ) ) ) ) ) ) )

UAL tumbled 56.875 to 222.875 on volume of 2.3 million shares and AMR declined by 22.125 to 76.50 as 4.7 million shares changed hands


( S ( S-ADV ( ADVP-PRD ( RB Together ) ) ) ( NP-SBJ-1 ( DT the ) ( CD two ) ( NNS stocks ) ) ( VP ( VP ( VBD wreaked ) ( NP-CLR ( NN havoc ) ) ( PP-CLR ( IN among ) ( NP ( NN takeover ) ( NN stock ) ( NNS traders ) ) ) ) ( CC and ) ( VP ( VBD caused ) ( NP ( NP ( DT a ) ( ADJP ( CD 7.3 ) ( NN % ) ) ( NN drop ) ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( NNP Dow ) ( NNP Jones ) ( NNP Transportation ) ( NNP Average ) ) ) ( ADJP ( JJ second ) ( PP ( IN in ) ( NP ( NN size ) ) ) ( PP ( RB only ) ( TO to ) ( NP ( NP ( DT the ) ( NN stock-market ) ( NN crash ) ) ( PP ( IN of ) ( NP ( NP ( NNP Oct. ) ( CD 19 ) ) ( NP ( CD 1987 ) ) ) ) ) ) ) ) ) ) )

Together the two stocks wreaked havoc among takeover stock traders and caused a 7.3 % drop in the Dow Jones Transportation Average second in size only to the stock-market crash of Oct. 19 1987


( S ( NP-SBJ ( DT Some ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( NP ( NNP Friday ) ( POS 's ) ) ( NN market ) ( NN debacle ) ) ( VP ( VBD had ) ( VP ( VBN given ) ( NP ( NNP Mr. ) ( NNP Trump ) ) ( NP ( DT an ) ( NN excuse ) ( S ( VP ( TO to ) ( VP ( VB bail ) ( PP-CLR ( RB out ) ( PP ( IN of ) ( NP ( NP ( DT an ) ( NN offer ) ) ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( VP ( VBD showed ) ( NP ( NP ( NNS signs ) ) ( PP ( IN of ) ( NP ( VBG stalling ) ) ) ) ( SBAR-TMP ( RB even ) ( IN before ) ( S ( NP-SBJ ( NP ( NNS problems ) ) ) ( VP ( VBD emerged ) ( PP-2 ( IN with ) ( NP ( DT the ) ( NNP UAL ) ( NN deal ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Some said Friday 's market debacle had given Mr. Trump an excuse to bail out of an offer that showed signs of stalling even before problems emerged with the UAL deal


( S ( PP-TMP ( IN After ) ( S-NOM ( VP ( VBG reaching ) ( NP ( NP ( DT an ) ( JJ intraday ) ( NN high ) ) ( PP ( IN of ) ( NP ( CD 107.50 ) ) ) ) ( NP-TMP ( NP ( NP ( DT the ) ( NN day ) ) ( SBAR ( S ( NP-SBJ ( NNP Mr. ) ( NNP Trump ) ) ( VP ( VBD disclosed ) ( NP ( PRP$ his ) ( NN bid ) ) ) ) ) ) ( NP ( NNP Oct. ) ( CD 5 ) ) ) ) ) ) ( NP-SBJ ( NP ( NNP AMR ) ( POS 's ) ) ( NN stock ) ) ( VP ( VBD had ) ( VP ( VBN retreated ) ( ADVP-CLR ( ADVP ( RB as ) ( RB low ) ) ( PP ( IN as ) ( NP ( CD 97.75 ) ) ) ) ( NP-TMP ( JJ last ) ( NN week ) ) ) ) )

After reaching an intraday high of 107.50 the day Mr. Trump disclosed his bid Oct. 5 AMR 's stock had retreated as low as 97.75 last week


( S ( NP-SBJ ( DT Some ) ( NN takeover ) ( NN stock ) ( NNS traders ) ) ( VP ( VBD had ) ( VP ( VBN been ) ( VP ( VBG betting ) ( PP ( IN against ) ( NP ( NNP Mr. ) ( NNP Trump ) ) ) ( SBAR-PRP ( IN because ) ( S ( NP-SBJ ( PRP he ) ) ( VP ( VBZ has ) ( NP ( NP ( DT a ) ( NN record ) ) ( PP ( IN of ) ( S-NOM ( VP ( VBG disclosing ) ( NP ( NP ( NNS stakes ) ) ( PP-LOC ( IN in ) ( NP ( NP ( NNS companies ) ) ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( VP ( VBP are ) ( NP-PRD ( JJ potential ) ( NN takeover ) ( NNS targets ) ) ) ) ) ) ) ) ) ) ( RB then ) ( S-NOM ( VP ( VBG selling ) ( PP-CLR ( IN at ) ( NP ( DT a ) ( NN profit ) ) ) ( PP-MNR ( IN without ) ( S-NOM ( VP ( VBG making ) ( NP ( DT a ) ( NN bid ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Some takeover stock traders had been betting against Mr. Trump because he has a record of disclosing stakes in companies that are potential takeover targets then selling at a profit without making a bid


( SINV ( S-TPC-1 ( NP-SBJ ( PRP He ) ) ( ADVP ( RB still ) ) ( VP ( VBZ has ) ( RB n't ) ( VP ( VBN proven ) ( NP-PRD ( NP ( PRP$ his ) ( NN mettle ) ) ( PP ( IN as ) ( NP ( DT a ) ( JJ big-league ) ( NN take-out ) ( NN artist ) ) ) ) ) ) ) ( VP ( VBD said ) ) ( NP-SBJ ( NP ( NN airline ) ( NN analyst ) ( NNP Kevin ) ( NNP Murphy ) ) ( PP ( IN of ) ( NP ( NNP Morgan ) ( NNP Stanley ) ( CC & ) ( NNP Co ) ) ) ) )

He still has n't proven his mettle as a big-league take-out artist said airline analyst Kevin Murphy of Morgan Stanley & Co


( S ( NP-SBJ ( PRP He ) ) ( VP ( VBZ 's ) ( VP ( VBN done ) ( NP ( NP ( DT this ) ( NN thing ) ) ( SBAR ( WHADVP-1 ( WRB where ) ) ( S ( NP-SBJ ( PRP he ) ) ( VP ( MD 'll ) ( VP ( VP ( VB buy ) ( NP ( NP ( DT a ) ( JJ little ) ( NN bit ) ) ( PP ( IN of ) ( NP ( DT a ) ( NN company ) ) ) ) ) ( CC and ) ( VP ( ADVP ( RB then ) ) ( VB trade ) ( PP ( IN out ) ( PP ( IN of ) ( NP ( PRP it ) ) ) ) ) ) ) ) ) ) ) ) )

He 's done this thing where he 'll buy a little bit of a company and then trade out of it


( S ( NP-SBJ ( PRP He ) ) ( VP ( VBZ 's ) ( VP ( VBN written ) ( NP ( NP ( DT this ) ( NN book ) ) ( NP ( NP ( DT The ) ( NN Art ) ) ( PP ( IN of ) ( NP ( DT the ) ( NN Deal ) ) ) ) ) ) ) )

He 's written this book The Art of the Deal


( SBARQ ( WHADVP-1 ( WRB Why ) ) ( VBZ does ) ( RB n't ) ( SQ ( NP-SBJ ( PRP he ) ) ( VP ( ADVP ( RB just ) ) ( VB follow ) ( PRT ( RP through ) ) ( PP-CLR ( IN on ) ( NP ( NP ( CD one ) ) ( PP ( IN of ) ( NP ( DT these ) ( NNS things ) ) ) ) ) ) ) )

Why does n't he just follow through on one of these things


( S ( NP-SBJ ( NNP Mr. ) ( NNP Trump ) ) ( VP ( VBD withdrew ) ( NP ( PRP$ his ) ( NN bid ) ) ( SBAR-LOC ( IN before ) ( S ( NP-SBJ ( NP ( DT the ) ( NNP AMR ) ( NN board ) ) ( SBAR ( WHNP-1 ( WDT which ) ) ( S ( VP ( VBZ is ) ( ADJP-PRD ( JJ due ) ( S ( VP ( TO to ) ( VP ( VB meet ) ( NP-TMP ( NN tomorrow ) ) ) ) ) ) ) ) ) ) ( VP ( ADVP-TMP ( RB ever ) ) ( ADVP-MNR ( RB formally ) ) ( VBD considered ) ( NP ( PRP it ) ) ) ) ) ) )

Mr. Trump withdrew his bid before the AMR board which is due to meet tomorrow ever formally considered it


( S ( NP-SBJ ( NNP AMR ) ) ( VP ( VBD had ) ( VP ( VBN weighed ) ( NP ( NP ( NP ( DT a ) ( JJ wide ) ( NN range ) ) ( PP ( IN of ) ( NP ( JJ possible ) ( NNS responses ) ) ) ( PP ( PP ( IN from ) ( NP ( JJ flat ) ( NN rejection ) ) ) ( PP ( TO to ) ( NP ( NP ( NNS recapitalizations ) ) ( CC and ) ( NP ( JJ leveraged ) ( NNS buy-outs ) ) ) ) ) ) ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( VP ( MD might ) ( VP ( VB have ) ( VP ( VBN included ) ( NP ( DT either ) ( NP ( NNS employees ) ) ( NP ( NP ( DT a ) ( JJR friendlier ) ( NN buyer ) ) ( PP ( JJ such ) ( IN as ) ( NP ( NNP Texas ) ( NN billionaire ) ( NNP Robert ) ( NNP Bass ) ) ) ) ( CC or ) ( NP ( DT both ) ) ) ) ) ) ) ) ) ) ) )

AMR had weighed a wide range of possible responses from flat rejection to recapitalizations and leveraged buy-outs that might have included either employees a friendlier buyer such as Texas billionaire Robert Bass or both


( S ( NP-SBJ-2 ( NNP AMR ) ) ( VP ( VBD had ) ( ADVP ( RB also ) ) ( VP ( VBN sought ) ( S ( VP ( TO to ) ( VP ( VB foil ) ( NP ( NNP Mr. ) ( NNP Trump ) ) ( PP-LOC ( IN in ) ( NP ( NNP Congress ) ) ) ( PP-MNR ( IN by ) ( S-NOM ( VP ( VBG lobbying ) ( PP-CLR ( IN for ) ( NP ( NP ( NN legislation ) ) ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( VP ( MD would ) ( VP ( VB have ) ( VP ( VBN bolstered ) ( NP ( NP ( DT the ) ( NN authority ) ) ( PP ( IN of ) ( NP ( DT the ) ( NNP Transportation ) ( NNP Department ) ) ) ( S-3 ( VP ( TO to ) ( VP ( VB reject ) ( NP ( NN airline ) ( NNS buy-outs ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

AMR had also sought to foil Mr. Trump in Congress by lobbying for legislation that would have bolstered the authority of the Transportation Department to reject airline buy-outs


( S ( NP-TMP ( NN Yesterday ) ) ( NP-SBJ-1 ( NNP Mr. ) ( NNP Trump ) ) ( VP ( VBD tried ) ( S ( VP ( TO to ) ( VP ( VB put ) ( NP ( NP ( DT the ) ( NN blame ) ) ( PP ( IN for ) ( NP ( NP ( DT the ) ( NN collapse ) ) ( PP ( IN of ) ( NP ( DT the ) ( NNP UAL ) ( NN deal ) ) ) ) ) ) ( PP-PUT ( IN on ) ( NP ( NNP Congress ) ) ) ) ) ) ( S-ADV ( VP ( VBG saying ) ( SBAR ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBD was ) ( VP ( VBG rushing ) ( PP-CLR ( IN through ) ( NP ( DT a ) ( NN bill ) ( S ( VP ( TO to ) ( VP ( VB protect ) ( NP ( NNP AMR ) ( NNS executives ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Yesterday Mr. Trump tried to put the blame for the collapse of the UAL deal on Congress saying it was rushing through a bill to protect AMR executives


( S ( S-TPC-2 ( NP-SBJ ( PRP I ) ) ( VP ( VBP believe ) ( SBAR ( IN that ) ( S ( NP-SBJ ( DT the ) ( NN perception ) ( SBAR ( DT that ) ( S ( NP-SBJ-1 ( NP ( NN legislation ) ) ( PP-LOC ( IN in ) ( NP ( DT this ) ( NN area ) ) ) ) ( VP ( MD may ) ( VP ( VB be ) ( VP ( ADVP-MNR ( RB hastily ) ) ( VBN approved ) ) ) ) ) ) ) ( VP ( VBD contributed ) ( PP-CLR ( TO to ) ( NP ( NP ( NP ( DT the ) ( NN collapse ) ) ( PP ( IN of ) ( NP ( DT the ) ( NNP UAL ) ( NN transaction ) ) ) ) ( CC and ) ( NP ( NP ( DT the ) ( VBG resulting ) ( NN disruption ) ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( JJ financial ) ( NNS markets ) ) ) ( VP ( VBN experienced ) ( NP-TMP ( DT this ) ( JJ past ) ( NNP Friday ) ) ) ) ) ) ) ) ) ) ) ( NP-SBJ ( NNP Mr. ) ( NNP Trump ) ) ( VP ( VBD wrote ) ( NP ( NP ( NNS members ) ) ( PP ( IN of ) ( NP ( NNP Congress ) ) ) ) ) )

I believe that the perception that legislation in this area may be hastily approved contributed to the collapse of the UAL transaction and the resulting disruption in the financial markets experienced this past Friday Mr. Trump wrote members of Congress


( S ( S ( NP-SBJ-1 ( NNP AMR ) ) ( VP ( VBD declined ) ( S ( VP ( TO to ) ( VP ( VB comment ) ) ) ) ) ) ( CC and ) ( S ( NP-SBJ ( NNP Mr. ) ( NNP Trump ) ) ( VP ( VBD did ) ( RB n't ) ( VP ( VB respond ) ( PP-CLR ( TO to ) ( NP ( NP ( NNS requests ) ) ( PP ( IN for ) ( NP ( NNS interviews ) ) ) ) ) ) ) ) )

AMR declined to comment and Mr. Trump did n't respond to requests for interviews


( S ( NP-SBJ ( NNP Mr. ) ( NNP Trump ) ) ( VP ( ADVP-TMP ( RB never ) ) ( VBD said ) ( SBAR ( SBAR ( WHNP-1 ( WHADVP ( WRB how ) ( JJ much ) ) ( NNP AMR ) ( NN stock ) ) ( S ( NP-SBJ ( PRP he ) ) ( VP ( VBD had ) ( VP ( VBN bought ) ) ) ) ) ( ADVP ( RB only ) ) ( SBAR ( IN that ) ( S ( NP-SBJ ( PRP$ his ) ( NNS holdings ) ) ( VP ( VBD were ) ( ADJP-PRD ( JJ substantial ) ) ) ) ) ) ) )

Mr. Trump never said how much AMR stock he had bought only that his holdings were substantial


( S ( ADVP ( RB However ) ) ( NP-SBJ ( PRP he ) ) ( VP ( ADVP ( RB only ) ) ( VBD received ) ( NP ( JJ federal ) ( NN clearance ) ( S ( VP ( TO to ) ( VP ( VB buy ) ( NP ( NP ( QP ( JJR more ) ( IN than ) ( CD 15 ) ( CD million ) ) ) ( PP ( IN of ) ( NP ( DT the ) ( NN stock ) ) ) ) ( PP-TMP ( IN on ) ( NP ( NP ( NNP Sept. ) ( CD 20 ) ) ( SBAR ( WHADVP-1 ( WRB when ) ) ( S ( NP-SBJ ( DT the ) ( NN price ) ) ( VP ( VBD rose ) ( NP-EXT ( NP ( CD 2 ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ( PP-DIR ( TO to ) ( NP ( CD 78.50 ) ) ) ) ) ) ) ) ) ) ) ) ) )

However he only received federal clearance to buy more than 15 million of the stock on Sept. 20 when the price rose 2 a share to 78.50


( S ( PP-TMP ( IN Between ) ( UCP ( ADVP-TMP ( RB then ) ) ( CC and ) ( NP ( NP ( PRP$ his ) ( NN bid ) ) ( PP-TMP ( IN on ) ( NP ( NNP Oct. ) ( CD 5 ) ) ) ) ) ) ( NP-SBJ ( DT the ) ( NN price ) ) ( VP ( VBD fluctuated ) ( PP ( IN between ) ( NP ( NP ( CD 75.625 ) ) ( CC and ) ( NP ( CD 87.375 ) ) ) ) ) )

Between then and his bid on Oct. 5 the price fluctuated between 75.625 and 87.375


( S ( PP ( IN In ) ( NP ( DT an ) ( NN attempt ) ( S ( VP ( TO to ) ( VP ( VB persuade ) ( NP ( NNS investors ) ) ( SBAR ( IN that ) ( S ( NP-SBJ ( PRP$ his ) ( NN bid ) ) ( VP ( VBD was ) ( RB n't ) ( NP-PRD ( ADVP ( RB just ) ) ( DT a ) ( NN stock ) ( NN play ) ) ) ) ) ) ) ) ) ) ( NP-SBJ-1 ( NNP Mr. ) ( NNP Trump ) ) ( VP ( VBD promised ) ( NP-TMP ( JJ last ) ( NN week ) ) ( S ( VP ( TO to ) ( VP ( VB notify ) ( NP ( DT the ) ( NN market ) ) ( PP-TMP ( IN before ) ( S-NOM ( VP ( VBG selling ) ( NP ( DT any ) ( NNS shares ) ) ) ) ) ) ) ) ) )

In an attempt to persuade investors that his bid was n't just a stock play Mr. Trump promised last week to notify the market before selling any shares


( S ( NP-SBJ ( NNP AMR ) ) ( VP ( VP ( VBD was ) ( VP ( VBG trading ) ( PP-CLR ( IN at ) ( NP ( QP ( IN around ) ( CD 84 ) ) ) ) ( NP-TMP ( NN yesterday ) ) ( PP-TMP ( IN before ) ( NP ( PRP$ his ) ( NN withdrawal ) ( NN announcement ) ) ) ) ) ( RB then ) ( VP ( ADVP-TMP ( RB immediately ) ) ( VBD fell ) ( PP-DIR ( TO to ) ( NP ( QP ( IN about ) ( CD 76 ) ) ) ) ) ) )

AMR was trading at around 84 yesterday before his withdrawal announcement then immediately fell to about 76


( S ( S-ADV ( VP ( VP ( VBG Assuming ) ( SBAR ( IN that ) ( S ( NP-SBJ ( PRP he ) ) ( VP ( VBD paid ) ( NP ( NP ( DT a ) ( JJ rough ) ( JJ average ) ( NN price ) ) ( PP ( IN of ) ( NP ( NP ( CD 80 ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ) ) ) ) ) ( CC and ) ( VP ( VBG assuming ) ( SBAR ( S ( NP-SBJ ( PRP he ) ) ( VP ( VBD did ) ( RB n't ) ( VP ( VB sell ) ( SBAR-TMP ( IN before ) ( S ( NP-SBJ ( PRP$ his ) ( NN announcement ) ) ( VP ( VBD reached ) ( NP ( DT the ) ( NN market ) ) ) ) ) ) ) ) ) ) ) ) ( NP-SBJ ( NNP Mr. ) ( NNP Trump ) ) ( VP ( MD could ) ( VP ( VB be ) ( VP ( VBG sitting ) ( PP ( IN with ) ( NP ( DT a ) ( JJ modest ) ( NN loss ) ) ) ( PP ( IN with ) ( NP ( NP ( DT the ) ( NN stock ) ) ( PP-LOC ( IN at ) ( NP ( CD 76.50 ) ) ) ) ) ) ) ) )

Assuming that he paid a rough average price of 80 a share and assuming he did n't sell before his announcement reached the market Mr. Trump could be sitting with a modest loss with the stock at 76.50


( S ( NP-SBJ ( DT Some ) ( NNS analysts ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ-1 ( NNP AMR ) ( NN Chairman ) ( NNP Robert ) ( NNP Crandall ) ) ( VP ( MD might ) ( VP ( VB seize ) ( NP ( NP ( DT the ) ( NN opportunity ) ) ( VP ( VBN presented ) ( PP ( IN by ) ( NP-LGS ( DT the ) ( NN stock ) ( NN price ) ( NN drop ) ) ) ) ) ( S-PRP ( VP ( TO to ) ( VP ( VB protect ) ( NP ( NP ( DT the ) ( NN nation ) ( POS 's ) ) ( JJS largest ) ( NN airline ) ) ( PP-MNR ( IN with ) ( NP ( NP ( DT a ) ( JJ defensive ) ( NN transaction ) ) ( PP ( JJ such ) ( IN as ) ( NP ( NP ( DT the ) ( NN sale ) ) ( PP ( IN of ) ( NP ( NN stock ) ) ) ( PP ( TO to ) ( NP ( NP ( DT a ) ( JJ friendly ) ( NN holder ) ) ( CC or ) ( NP ( NN company ) ( NNS employees ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Some analysts said AMR Chairman Robert Crandall might seize the opportunity presented by the stock price drop to protect the nation 's largest airline with a defensive transaction such as the sale of stock to a friendly holder or company employees


( S ( ADVP ( RB However ) ) ( NP-SBJ ( JJ other ) ( JJ knowledgeable ) ( NNS observers ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( PRP they ) ) ( VP ( VBD believed ) ( SBAR ( S ( NP-SBJ-1 ( NP ( NNP Mr. ) ( NNP Crandall ) ) ( CC and ) ( NP ( DT the ) ( NNP AMR ) ( NN board ) ) ) ( VP ( MD might ) ( ADVP ( RB well ) ) ( VP ( VB decide ) ( S ( VP ( TO to ) ( VP ( VB tough ) ( NP-CLR ( PRP it ) ) ( PRT ( RP out ) ) ( PP-MNR ( IN without ) ( S-NOM ( VP ( VBG taking ) ( NP ( DT any ) ( JJ extra ) ( NNS steps ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

However other knowledgeable observers said they believed Mr. Crandall and the AMR board might well decide to tough it out without taking any extra steps


( S ( NP-SBJ ( DT Some ) ( NNS analysts ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( PRP they ) ) ( VP ( VBD believed ) ( SBAR ( S ( NP-SBJ ( NP ( NNP Mr. ) ( NNP Trump ) ) ( SBAR ( WHNP-2 ( WP$ whose ) ( JJ towering ) ( NN ego ) ) ( S ( VP ( VBD had ) ( VP ( VBN been ) ( VP ( VBN viewed ) ( PP ( IN by ) ( NP-LGS ( DT some ) ) ) ( PP-CLR ( IN as ) ( NP ( DT a ) ( NN reason ) ( S ( VP ( TO to ) ( VP ( VB believe ) ( SBAR ( S ( NP-SBJ ( PRP he ) ) ( VP ( MD would ) ( RB n't ) ( VP ( VB back ) ( ADVP-CLR ( RB out ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ( VP ( MD might ) ( VP ( VB come ) ( ADVP-CLR ( RB back ) ) ( PP ( IN with ) ( NP ( DT a ) ( JJR lower ) ( NN bid ) ) ) ) ) ) ) ) ) ) ) )

Some analysts said they believed Mr. Trump whose towering ego had been viewed by some as a reason to believe he would n't back out might come back with a lower bid


( S ( NP-SBJ ( NP ( NNP Ray ) ( NNP Neidl ) ) ( PP ( IN of ) ( NP ( NNP Dillon ) ( NNP Read ) ( CC & ) ( NNP Co. ) ) ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( NNP Mr. ) ( NNP Trump ) ) ( VP ( VBZ is ) ( VP ( VP ( VBG stepping ) ( ADVP-CLR ( RB back ) ) ) ( CC and ) ( VP ( VBG waiting ) ( SBAR-CLR ( IN for ) ( S ( NP-SBJ ( NP ( DT the ) ( NN dust ) ) ) ( VP ( TO to ) ( VP ( VB settle ) ) ) ) ) ) ) ) ) ) ) )

Ray Neidl of Dillon Read & Co. said Mr. Trump is stepping back and waiting for the dust to settle


( S ( NP-SBJ ( PRP I ) ) ( VP ( VBP 'm ) ( ADJP-PRD ( JJ sure ) ( SBAR ( S ( NP-SBJ ( PRP he ) ) ( ADVP-TMP ( RB still ) ) ( VP ( VBZ wants ) ( NP ( NNP AMR ) ) ) ) ) ) ) )

I 'm sure he still wants AMR


( S ( CC But ) ( NP-SBJ ( NNS others ) ) ( VP ( VBD remained ) ( ADJP-PRD ( JJ skeptical ) ) ) )

But others remained skeptical


( SINV ( S-TPC-2 ( NP-SBJ ( PRP I ) ) ( VP ( VBD was ) ( ADVP-TMP ( RB never ) ) ( ADJP-PRD ( JJ sure ) ( SBAR ( S ( NP-SBJ-1 ( NNP Donald ) ( NNP Trump ) ) ( VP ( ADVP ( RB really ) ) ( VBD wanted ) ( S ( VP ( TO to ) ( VP ( VB take ) ( NP ( NNP AMR ) ) ) ) ) ) ) ) ) ) ) ( VP ( VBD said ) ) ( NP-SBJ ( NP ( NNP John ) ( NNP Mattis ) ) ( NP ( NP ( DT a ) ( NN bond ) ( NN analyst ) ) ( PP ( IN with ) ( NP ( NNP Shearson ) ( NNP Lehman ) ( NNP Hutton ) ( NNP Inc ) ) ) ) ) )

I was never sure Donald Trump really wanted to take AMR said John Mattis a bond analyst with Shearson Lehman Hutton Inc


( S ( NP-SBJ ( SBAR ( WHNP-1 ( WP What ) ) ( S ( VP ( VBD happened ) ( PP-CLR ( IN with ) ( NP ( NNP United ) ) ) ) ) ) ) ( VP ( VBD was ) ( NP-PRD ( DT a ) ( JJ gracious ) ( NN way ) ( SBAR ( IN for ) ( S ( NP-SBJ ( PRP him ) ) ( VP ( TO to ) ( VP ( VB bow ) ( ADVP-CLR ( RB out ) ) ) ) ) ) ) ) )

What happened with United was a gracious way for him to bow out


( S ( NP-SBJ ( NNP Mr. ) ( NNP Trump ) ) ( ADVP-TMP ( RB never ) ) ( VP ( VBD obtained ) ( NP ( NP ( NN financing ) ) ( PP ( IN for ) ( NP ( PRP$ his ) ( NN bid ) ) ) ) ) )

Mr. Trump never obtained financing for his bid


( S ( NP-SBJ ( DT That ) ( NN skepticism ) ) ( VP ( MD would ) ( VP ( VB leave ) ( NP ( PRP him ) ) ( PP-CLR ( IN with ) ( NP ( NP ( DT an ) ( ADJP ( RB even ) ( JJR greater ) ) ( NN credibility ) ( NN problem ) ) ) ) ( SBAR-ADV ( SINV ( MD should ) ( NP-SBJ ( PRP he ) ) ( VP ( VB return ) ) ) ) ( SBAR-1 ( WHNP-3 ( WDT that ) ) ( S ( VP ( MD would ) ( VP ( VB handicap ) ( NP ( PRP him ) ) ( PP-LOC ( IN in ) ( NP ( DT any ) ( NN effort ) ( S ( VP ( TO to ) ( VP ( VB oust ) ( NP ( DT the ) ( NN board ) ) ( PP ( IN in ) ( NP ( DT a ) ( NN proxy ) ( NN fight ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

That skepticism would leave him with an even greater credibility problem should he return that would handicap him in any effort to oust the board in a proxy fight


( S ( ADVP-TMP ( RB Meanwhile ) ) ( NP-SBJ-1 ( NP ( NP ( NNP Citicorp ) ) ( CC and ) ( NP ( NNP Chase ) ( NNP Manhattan ) ( NNP Corp. ) ) ) ( NP ( NP ( DT the ) ( CD two ) ( JJ lead ) ( NNS lenders ) ) ( PP-LOC ( IN on ) ( NP ( DT the ) ( NNP UAL ) ( NN buy-out ) ) ) ) ) ( VP ( VBD met ) ( PP-CLR ( IN with ) ( NP ( JJ other ) ( NNS banks ) ) ) ( NP-TMP ( NN yesterday ) ) ( S-PRP ( VP ( TO to ) ( VP ( VB determine ) ( SBAR-ADV ( IN if ) ( S ( NP-SBJ-2 ( PRP they ) ) ( VP ( MD would ) ( VP ( VB be ) ( ADJP-PRD ( JJ willing ) ( S ( VP ( TO to ) ( VP ( VB finance ) ( NP ( DT the ) ( NN buy-out ) ) ( PP ( IN at ) ( NP ( DT a ) ( JJR lower ) ( NN price ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Meanwhile Citicorp and Chase Manhattan Corp. the two lead lenders on the UAL buy-out met with other banks yesterday to determine if they would be willing to finance the buy-out at a lower price


( S ( NP-SBJ ( NP ( NNS Officials ) ) ( ADJP ( JJ familiar ) ( PP ( IN with ) ( NP ( DT the ) ( NNS talks ) ) ) ) ) ( VP ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ-2 ( NNP Citicorp ) ) ( VP ( VBD had ) ( VP ( VBN discussed ) ( S ( VP ( VBG lowering ) ( NP ( DT the ) ( NN offer ) ) ( PP-DIR ( TO to ) ( NP ( NP ( CD 250 ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ) ) ) ) ) ) ) ( CC but ) ( VP ( VBD said ) ( SBAR ( SBAR ( S ( NP-SBJ ( DT that ) ( NN price ) ) ( VP ( VBD was ) ( NP-PRD ( DT a ) ( NN talking ) ( NN point ) ) ) ) ) ( CC and ) ( SBAR ( IN that ) ( S ( NP-SBJ-1 ( DT no ) ( NN decision ) ) ( VP ( VBZ has ) ( VP ( VBN been ) ( VP ( VBN made ) ) ) ) ) ) ) ) ) )

Officials familiar with the talks said Citicorp had discussed lowering the offer to 250 a share but said that price was a talking point and that no decision has been made


( S ( PP ( IN At ) ( NP ( NP ( CD 250 ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ( NP-SBJ-1 ( DT the ) ( NN group ) ) ( VP ( MD would ) ( VP ( VB have ) ( S ( VP ( TO to ) ( VP ( VB borrow ) ( NP ( QP ( IN about ) ( CD 6.1 ) ( CD billion ) ) ) ( PP-CLR ( IN from ) ( NP ( NNS banks ) ) ) ) ) ) ) ) )

At 250 a share the group would have to borrow about 6.1 billion from banks


( S ( NP-SBJ ( DT The ) ( JJ first ) ( NNP UAL ) ( NN deal ) ) ( VP ( VBN unraveled ) ( SBAR-TMP ( IN after ) ( S ( NP-SBJ ( NNP Citibank ) ( CC and ) ( NNP Chase ) ) ( VP ( MD could ) ( RB n't ) ( VP ( VB raise ) ( NP ( QP ( CD 7.2 ) ( CD billion ) ) ) ) ) ) ) ) )

The first UAL deal unraveled after Citibank and Chase could n't raise 7.2 billion


( S ( NP-SBJ-1 ( NNP Citibank ) ( CC and ) ( NNP Chase ) ) ( VP ( VP ( VBD had ) ( VP ( VBN agreed ) ( S ( VP ( TO to ) ( VP ( VB commit ) ( NP ( QP ( CD 3 ) ( CD billion ) ) ) ) ) ) ) ) ( CC and ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( PRP they ) ) ( VP ( VBD were ) ( ADJP-PRD ( RB highly ) ( JJ confident ) ( PP ( IN of ) ( S-NOM ( VP ( VBG raising ) ( NP ( QP ( DT another ) ( CD 4.2 ) ( CD billion ) ) ) ) ) ) ) ) ) ) ) ) )

Citibank and Chase had agreed to commit 3 billion and said they were highly confident of raising another 4.2 billion


( S ( S-ADV ( ADVP-PRD ( RB Together ) ) ) ( NP-SBJ-1 ( NNP Citicorp ) ( CC and ) ( NNP Chase ) ) ( VP ( VBD received ) ( NP ( NP ( QP ( CD 8 ) ( CD million ) ) ) ( PP ( IN in ) ( NP ( NNS fees ) ) ) ) ( S-PRP ( VP ( TO to ) ( VP ( VB raise ) ( NP ( NP ( DT the ) ( NN rest ) ) ( PP ( IN of ) ( NP ( DT the ) ( NN financing ) ) ) ) ) ) ) ) )

Together Citicorp and Chase received 8 million in fees to raise the rest of the financing


( S ( CC But ) ( NP-SBJ ( JJ other ) ( NNS banks ) ) ( VP ( VBD balked ) ( PP-CLR ( IN at ) ( NP ( NP ( DT the ) ( JJ low ) ( NX ( NX ( NN interest ) ( NN rate ) ) ( CC and ) ( NX ( NN banking ) ( NNS fees ) ) ) ) ( SBAR ( S ( NP-SBJ-1 ( DT the ) ( NNP UAL ) ( NN group ) ) ( VP ( VBD was ) ( ADJP-PRD ( JJ willing ) ( S ( VP ( TO to ) ( VP ( VB pay ) ( NP ( PRP them ) ) ) ) ) ) ) ) ) ) ) ) )

But other banks balked at the low interest rate and banking fees the UAL group was willing to pay them


( S ( NP-SBJ ( NP ( NNS Officials ) ) ( ADJP ( JJ familiar ) ( PP ( IN with ) ( NP ( DT the ) ( NN bank ) ( NNS talks ) ) ) ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ-1 ( NP ( DT the ) ( NNP UAL ) ( NN buy-out ) ( NN group ) ) ( PRN ( NP ( NP ( NNP UAL ) ( NNS pilots ) ) ( NP ( NN management ) ) ( CC and ) ( NP ( NNP British ) ( NNPS Airways ) ( NNP PLC ) ) ) ) ) ( VP ( VP ( VBZ is ) ( ADVP-TMP ( RB now ) ) ( ADJP-PRD ( JJ willing ) ( S ( VP ( TO to ) ( VP ( VB pay ) ( NP ( JJR higher ) ( NX ( NX ( NN bank ) ( NNS fees ) ) ( CC and ) ( NX ( NN interest ) ) ) ) ) ) ) ) ) ( CC but ) ( VP ( VBZ is ) ( RB n't ) ( ADJP-PRD ( JJ likely ) ( S ( VP ( TO to ) ( VP ( VB boost ) ( NP ( PRP$ its ) ( ADJP ( QP ( CD 965 ) ( CD million ) ) ) ( NN equity ) ( NN contribution ) ) ) ) ) ) ) ) ) ) ) )

Officials familiar with the bank talks said the UAL buy-out group UAL pilots management and British Airways PLC is now willing to pay higher bank fees and interest but is n't likely to boost its 965 million equity contribution


( SINV ( CC Nor ) ( VBZ is ) ( NP-SBJ-1 ( DT the ) ( NN group ) ) ( ADJP-PRD ( JJ likely ) ( S ( VP ( TO to ) ( VP ( VB come ) ( PRT ( RP forward ) ) ( PP-CLR ( IN with ) ( NP ( DT a ) ( VBN revised ) ( NN offer ) ) ) ( PP-TMP ( IN within ) ( NP ( DT the ) ( JJ next ) ( CD 48 ) ( NNS hours ) ) ) ) ) ) ) ( PP ( IN despite ) ( NP ( NP ( DT the ) ( NNS hopes ) ) ( PP ( IN of ) ( NP ( JJ many ) ( NNS traders ) ) ) ) ) )

Nor is the group likely to come forward with a revised offer within the next 48 hours despite the hopes of many traders


( S ( NP-SBJ-1 ( NP ( DT The ) ( NN group ) ( POS 's ) ) ( NNS advisers ) ) ( VP ( VBP want ) ( S ( VP ( TO to ) ( VP ( VB make ) ( ADJP-CLR ( JJ certain ) ( SBAR ( S ( NP-SBJ ( PRP they ) ) ( VP ( VBP have ) ( NP ( JJ firm ) ( NN bank ) ( NNS commitments ) ) ( NP-TMP ( DT the ) ( JJ second ) ( NN time ) ( RB around ) ) ) ) ) ) ) ) ) ) )

The group 's advisers want to make certain they have firm bank commitments the second time around


( S ( SBAR-ADV ( RB Even ) ( IN if ) ( S ( NP-SBJ-1 ( DT the ) ( NN buy-out ) ( NN group ) ) ( VP ( VBZ is ) ( ADJP-PRD ( JJ able ) ( S ( VP ( TO to ) ( VP ( VB obtain ) ( NP ( NN financing ) ) ) ) ) ) ) ) ) ( NP-SBJ ( DT the ) ( NN transaction ) ) ( ADVP ( RB still ) ) ( VP ( VBZ faces ) ( NP ( NNS obstacles ) ) ) )

Even if the buy-out group is able to obtain financing the transaction still faces obstacles


( S ( NP-SBJ ( NP ( NNP UAL ) ( POS 's ) ) ( NN board ) ) ( VP ( MD could ) ( VP ( VB reject ) ( NP ( DT the ) ( JJ new ) ( NN price ) ) ( PP ( RB as ) ( ADJP ( RB too ) ( JJ low ) ) ) ( SBAR-PRP ( RB especially ) ( IN since ) ( S ( NP-SBJ ( EX there ) ) ( VP ( VBP are ) ( RB n't ) ( NP-PRD ( DT any ) ( VBG competing ) ( NNS bids ) ) ) ) ) ) ) )

UAL 's board could reject the new price as too low especially since there are n't any competing bids


( S ( NP-SBJ ( NP ( NNP Los ) ( NNP Angeles ) ( NN investor ) ( NNP Marvin ) ( NNP Davis ) ) ( SBAR ( WHNP-3 ( WP$ whose ) ( ADJP ( JJ 275-a-share ) ) ( NN offer ) ) ( S ( VP ( VBD was ) ( VP ( VBN rejected ) ( PP ( IN by ) ( NP-LGS ( NP ( NNP UAL ) ( POS 's ) ) ( NN board ) ) ) ) ) ) ) ) ( VP ( VBZ has ) ( RB n't ) ( VP ( VBN shown ) ( NP ( NP ( NNS signs ) ) ( PP ( IN of ) ( S-NOM ( VP ( VBG pursuing ) ( NP ( NP ( DT a ) ( ADJP ( JJ 300-a-share ) ) ( NN back-up ) ( NN bid ) ) ( SBAR ( S ( NP-SBJ ( PRP he ) ) ( VP ( VBD made ) ( NP-TMP ( JJ last ) ( NN month ) ) ) ) ) ) ) ) ) ) ) ) )

Los Angeles investor Marvin Davis whose 275-a-share offer was rejected by UAL 's board has n't shown signs of pursuing a 300-a-share back-up bid he made last month


( S ( PP ( IN In ) ( NP ( NN addition ) ) ) ( NP-SBJ ( NP ( DT the ) ( NN coalition ) ) ( PP ( IN of ) ( NP ( NP ( NN labor ) ( CC and ) ( NN management ) ) ( NP ( NP ( JJ longtime ) ( NNS enemies ) ) ( SBAR ( WHNP-1 ( WP who ) ) ( S ( VP ( VBD joined ) ( NP ( NNS forces ) ) ( PP-LOC ( RB only ) ( IN under ) ( NP ( NP ( DT the ) ( NN threat ) ) ( PP ( IN of ) ( NP ( NP ( NNP Mr. ) ( NNP Davis ) ( POS 's ) ) ( NN bid ) ) ) ) ) ) ) ) ) ) ) ) ( VP ( MD could ) ( VP ( VB break ) ( PRT ( RP apart ) ) ( ADVP-TMP ( RB now ) ) ) ) )

In addition the coalition of labor and management longtime enemies who joined forces only under the threat of Mr. Davis 's bid could break apart now


( S ( NP-SBJ ( NP ( DT The ) ( NN group ) ( POS 's ) ) ( NN resilience ) ) ( VP ( VBZ gets ) ( NP ( PRP$ its ) ( JJ first ) ( NN test ) ) ( NP-TMP ( NP ( NN today ) ) ( SBAR ( WHADVP-1 ( WRB when ) ) ( S ( NP-SBJ ( CD 30 ) ( JJ top ) ( NN pilot ) ( NN union ) ( NNS leaders ) ) ( VP ( VBP convene ) ( PP-LOC ( IN outside ) ( NP ( NNP Chicago ) ) ) ( PP-LOC ( IN in ) ( NP ( DT a ) ( RB previously ) ( JJ scheduled ) ( NN meeting ) ) ) ) ) ) ) ) )

The group 's resilience gets its first test today when 30 top pilot union leaders convene outside Chicago in a previously scheduled meeting


( S ( NP-SBJ ( NNP Union ) ( NNP Chairman ) ( NNP F.C ) ( PRN ( NNP Rick ) ) ( NNP Dubinsky ) ) ( VP ( VBZ faces ) ( NP ( NP ( DT the ) ( JJ tough ) ( NN task ) ) ( PP ( IN of ) ( S-NOM ( VP ( VBG explaining ) ( SBAR ( WHADVP-3 ( WRB why ) ) ( S ( NP-SBJ-2 ( NNS banks ) ) ( VP ( VBD refused ) ( S ( VP ( TO to ) ( VP ( VB finance ) ( NP ( NP ( DT a ) ( NN buy-out ) ) ( SBAR ( S ( NP-SBJ ( DT the ) ( NNS members ) ) ( VP ( VBD approved ) ( ADVP-MNR ( RB overwhelmingly ) ) ( NP-TMP ( JJ last ) ( NN week ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Union Chairman F.C Rick Dubinsky faces the tough task of explaining why banks refused to finance a buy-out the members approved overwhelmingly last week


( S ( NP-SBJ-1 ( DT The ) ( NN pilot ) ( NN union ) ) ( VP ( VBZ is ) ( VP ( VBG vowing ) ( S ( VP ( TO to ) ( VP ( VB pursue ) ( NP ( DT an ) ( NN acquisition ) ) ( SBAR-ADV ( WHNP-2 ( WDT whatever ) ) ( S ( NP-SBJ ( DT the ) ( NN board ) ) ( VP ( VBZ decides ) ) ) ) ) ) ) ) ) )

The pilot union is vowing to pursue an acquisition whatever the board decides


( S ( CC But ) ( SBAR-ADV ( IN if ) ( S ( NP-SBJ-2 ( DT the ) ( NN board ) ) ( VP ( VP ( VBZ rejects ) ( NP ( DT a ) ( VBN reduced ) ( NN bid ) ) ) ( CC and ) ( VP ( VBZ decides ) ( S ( VP ( TO to ) ( VP ( VB explore ) ( NP ( JJ other ) ( NNS alternatives ) ) ) ) ) ) ) ) ) ( NP-SBJ ( PRP it ) ) ( VP ( MD could ) ( VP ( VB transform ) ( SBAR-NOM ( WHNP-1 ( WP what ) ) ( S ( VP ( VBZ has ) ( VP ( VBN been ) ( NP-PRD ( DT a ) ( JJ harmonious ) ( NN process ) ) ) ) ) ) ( PP-CLR ( IN into ) ( NP ( DT an ) ( JJ adversarial ) ( NN one ) ) ) ) ) )

But if the board rejects a reduced bid and decides to explore other alternatives it could transform what has been a harmonious process into an adversarial one


( S ( NP-SBJ-1 ( DT The ) ( NNS pilots ) ) ( VP ( MD could ) ( VP ( VB play ) ( NP ( NN hardball ) ) ( PP-MNR ( IN by ) ( S-NOM ( VP ( VBG noting ) ( SBAR ( S ( NP-SBJ ( PRP they ) ) ( VP ( VBP are ) ( ADJP-PRD ( JJ crucial ) ( PP ( TO to ) ( NP ( DT any ) ( NN sale ) ( CC or ) ( NN restructuring ) ) ) ) ( SBAR-PRP ( IN because ) ( S ( NP-SBJ-2 ( PRP they ) ) ( VP ( MD can ) ( VP ( VB refuse ) ( S ( VP ( TO to ) ( VP ( VB fly ) ( NP ( DT the ) ( NNS airplanes ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

The pilots could play hardball by noting they are crucial to any sale or restructuring because they can refuse to fly the airplanes


( S ( SBAR-ADV ( IN If ) ( S ( NP-SBJ-2 ( PRP they ) ) ( VP ( VBD were ) ( S ( VP ( TO to ) ( VP ( VB insist ) ( PP-CLR ( IN on ) ( NP ( NP ( DT a ) ( JJ low ) ( NN bid ) ) ( PP ( IN of ) ( PRN ( S ( VP ( VB say ) ) ) ) ( NP ( NP ( CD 200 ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ) ) ) ) ) ) ) ) ( NP-SBJ-3 ( DT the ) ( NN board ) ) ( VP ( MD might ) ( RB n't ) ( VP ( VB be ) ( ADJP-PRD ( JJ able ) ( S ( VP ( TO to ) ( VP ( VB obtain ) ( NP ( DT a ) ( JJR higher ) ( NN offer ) ) ( PP-CLR ( IN from ) ( NP ( JJ other ) ( NNS bidders ) ) ) ) ) ) ) ( SBAR-PRP ( IN because ) ( S ( NP-SBJ-4 ( NNS banks ) ) ( VP ( MD might ) ( VP ( VB hesitate ) ( S ( VP ( TO to ) ( VP ( VB finance ) ( NP ( NP ( DT a ) ( NN transaction ) ) ( SBAR ( S ( NP-SBJ ( DT the ) ( NNS pilots ) ) ( VP ( VBP oppose ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

If they were to insist on a low bid of say 200 a share the board might n't be able to obtain a higher offer from other bidders because banks might hesitate to finance a transaction the pilots oppose


( S ( ADVP ( RB Also ) ) ( SBAR-PRP ( IN because ) ( S ( NP-SBJ ( NP ( NNP UAL ) ( NNP Chairman ) ( NNP Stephen ) ( NNP Wolf ) ) ( CC and ) ( NP ( JJ other ) ( NNP UAL ) ( NNS executives ) ) ) ( VP ( VBP have ) ( VP ( VBN joined ) ( NP ( NP ( DT the ) ( NNS pilots ) ( POS ' ) ) ( NN bid ) ) ) ) ) ) ( NP-SBJ-1 ( DT the ) ( NN board ) ) ( VP ( MD might ) ( VP ( VB be ) ( VP ( VBN forced ) ( S ( VP ( TO to ) ( VP ( VB exclude ) ( NP ( PRP him ) ) ( PP-CLR ( IN from ) ( NP ( PRP$ its ) ( NNS deliberations ) ) ) ( SBAR-PRP ( IN in ) ( NN order ) ( S ( VP ( TO to ) ( VP ( VB be ) ( ADJP-PRD ( JJ fair ) ( PP ( TO to ) ( NP ( JJ other ) ( NNS bidders ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Also because UAL Chairman Stephen Wolf and other UAL executives have joined the pilots ' bid the board might be forced to exclude him from its deliberations in order to be fair to other bidders


( S ( NP-SBJ ( DT That ) ) ( VP ( MD could ) ( VP ( VB cost ) ( NP ( PRP him ) ) ( NP ( DT the ) ( NN chance ) ( S ( VP ( TO to ) ( VP ( VP ( VB influence ) ( NP ( DT the ) ( NN outcome ) ) ) ( CC and ) ( VP ( ADVP ( RB perhaps ) ) ( VB join ) ( NP ( DT the ) ( VBG winning ) ( NN bidder ) ) ) ) ) ) ) ) ) )

That could cost him the chance to influence the outcome and perhaps join the winning bidder


( S ( NP-SBJ-1 ( NNS Consumers ) ) ( VP ( MD may ) ( VP ( VB want ) ( S ( VP ( TO to ) ( VP ( VB move ) ( NP ( PRP$ their ) ( NNS telephones ) ) ( ADVP-DIR ( NP ( DT a ) ( RB little ) ) ( RBR closer ) ( PP ( TO to ) ( NP ( DT the ) ( NN TV ) ( NN set ) ) ) ) ) ) ) ) ) )

Consumers may want to move their telephones a little closer to the TV set


( S ( NP-SBJ ( NP ( NN Couch-potato ) ( NNS jocks ) ) ( VP ( VBG watching ) ( NP ( NP ( NNP ABC ) ( POS 's ) ) ( NNP Monday ) ( NNP Night ) ( NNP Football ) ) ) ) ( VP ( MD can ) ( ADVP-TMP ( RB now ) ) ( VP ( VB vote ) ( PP-TMP ( IN during ) ( NP ( NN halftime ) ) ) ( PP-CLR ( IN for ) ( NP ( NP ( DT the ) ( JJS greatest ) ( NN play ) ) ( PP-TMP ( IN in ) ( NP ( CD 20 ) ( NNS years ) ) ) ( PP ( IN from ) ( PP ( IN among ) ( NP ( QP ( CD four ) ( CC or ) ( CD five ) ) ( VBN filmed ) ( NNS replays ) ) ) ) ) ) ) ) )

Couch-potato jocks watching ABC 's Monday Night Football can now vote during halftime for the greatest play in 20 years from among four or five filmed replays


( S ( ADVP-TMP ( NP ( CD Two ) ( NNS weeks ) ) ( RB ago ) ) ( NP-SBJ-1 ( NP ( NNS viewers ) ) ( PP ( IN of ) ( NP ( JJ several ) ( NNP NBC ) ( JJ daytime ) ( NN consumer ) ( NNS segments ) ) ) ) ( VP ( VBD started ) ( S ( VP ( VBG calling ) ( NP ( DT a ) ( CD 900 ) ( NN number ) ) ( PP-PRP ( IN for ) ( NP ( NP ( NN advice ) ) ( PP ( IN on ) ( NP ( JJ various ) ( NN life-style ) ( NNS issues ) ) ) ) ) ) ) ) )

Two weeks ago viewers of several NBC daytime consumer segments started calling a 900 number for advice on various life-style issues


( S ( CC And ) ( NP-SBJ ( NP ( DT the ) ( JJ new ) ( JJ syndicated ) ( NN reality ) ( NN show ) ) ( NP-TTL ( NNP Hard ) ( NNP Copy ) ) ) ( VP ( VBZ records ) ( NP ( NP ( NNS viewers ) ( POS ' ) ) ( NNS opinions ) ) ( PP-PRP ( IN for ) ( NP ( NP ( JJ possible ) ( NN airing ) ) ( PP-LOC ( IN on ) ( NP ( NP ( DT the ) ( JJ next ) ( NN day ) ( POS 's ) ) ( NN show ) ) ) ) ) ) )

And the new syndicated reality show Hard Copy records viewers ' opinions for possible airing on the next day 's show


( S ( S ( NP-SBJ ( JJ Interactive ) ( NN telephone ) ( NN technology ) ) ( VP ( VBZ has ) ( VP ( VBN taken ) ( NP ( NP ( DT a ) ( JJ new ) ( NN leap ) ) ( PP ( IN in ) ( NP ( NN sophistication ) ) ) ) ) ) ) ( CC and ) ( S ( NP-SBJ-1 ( NN television ) ( NNS programmers ) ) ( VP ( VBP are ) ( VP ( VBG racing ) ( S ( VP ( TO to ) ( VP ( VB exploit ) ( NP ( DT the ) ( NNS possibilities ) ) ) ) ) ) ) ) )

Interactive telephone technology has taken a new leap in sophistication and television programmers are racing to exploit the possibilities


( S ( ADVP ( RB Eventually ) ) ( NP-SBJ ( NNS viewers ) ) ( VP ( MD may ) ( VP ( VP ( VB grow ) ( ADJP-PRD ( VBN bored ) ( PP ( IN with ) ( NP ( DT the ) ( NN technology ) ) ) ) ) ( CC and ) ( VP ( VB resent ) ( NP ( DT the ) ( NN cost ) ) ) ) ) )

Eventually viewers may grow bored with the technology and resent the cost


( S ( CC But ) ( ADVP-TMP ( RB right ) ( RB now ) ) ( NP-SBJ ( NNS programmers ) ) ( VP ( VBP are ) ( VP ( VBG figuring ) ( SBAR ( IN that ) ( S ( NP-SBJ ( NP ( NNS viewers ) ) ( SBAR ( WHNP-1 ( WP who ) ) ( S ( VP ( VBP are ) ( ADJP-PRD ( JJ busy ) ( S ( VP ( NN dialing ) ( PRT ( RP up ) ) ( NP ( NP ( DT a ) ( NN range ) ) ( PP ( IN of ) ( NP ( NNS services ) ) ) ) ) ) ) ) ) ) ) ( VP ( MD may ) ( VP ( VP ( VB put ) ( PRT ( RP down ) ) ( NP ( PRP$ their ) ( JJ remote ) ( NN control ) ( NNS zappers ) ) ) ( CC and ) ( VP ( VB stay ) ( ADJP-PRD ( VBN tuned ) ) ) ) ) ) ) ) ) )

But right now programmers are figuring that viewers who are busy dialing up a range of services may put down their remote control zappers and stay tuned


( SINV ( S-TPC-3 ( NP-SBJ-2 ( PRP We ) ) ( VP ( VBP 've ) ( VP ( VBN been ) ( VP ( VBG spending ) ( NP ( NP ( DT a ) ( NN lot ) ) ( PP ( IN of ) ( NP ( NN time ) ) ) ) ( PP-LOC ( IN in ) ( NP ( NNP Los ) ( NNP Angeles ) ) ) ( S-ADV ( VP ( VBG talking ) ( PP-CLR ( TO to ) ( NP ( NN TV ) ( NN production ) ( NNS people ) ) ) ) ) ) ) ) ) ( VP ( VBZ says ) ) ( NP-SBJ ( NP ( NNP Mike ) ( NNP Parks ) ) ( NP ( NP ( NN president ) ) ( PP ( IN of ) ( NP ( NP ( NNP Call ) ( NNP Interactive ) ) ( SBAR ( WHNP-1 ( WDT which ) ) ( S ( VP ( VBD supplied ) ( NP ( NP ( NN technology ) ) ( PP ( IN for ) ( NP ( DT both ) ( NP ( NNP ABC ) ( NNPS Sports ) ) ( CC and ) ( NP ( NP ( NNP NBC ) ( POS 's ) ) ( NN consumer ) ( NNS minutes ) ) ) ) ) ) ) ) ) ) ) ) )

We 've been spending a lot of time in Los Angeles talking to TV production people says Mike Parks president of Call Interactive which supplied technology for both ABC Sports and NBC 's consumer minutes


( S ( PP ( IN With ) ( NP ( NP ( DT the ) ( NN competitiveness ) ) ( PP ( IN of ) ( NP ( DT the ) ( NN television ) ( NN market ) ) ) ) ) ( NP-TMP ( DT these ) ( NNS days ) ) ( NP-SBJ ( NN everyone ) ) ( VP ( VBZ is ) ( VP ( VBG looking ) ( PP-CLR ( IN for ) ( NP ( NP ( DT a ) ( NN way ) ) ( SBAR ( S ( VP ( TO to ) ( VP ( VB get ) ( S ( NP-SBJ ( NNS viewers ) ) ( ADJP-PRD ( RBR more ) ( JJ excited ) ) ) ) ) ) ) ) ) ) ) )

With the competitiveness of the television market these days everyone is looking for a way to get viewers more excited


( S ( NP-SBJ ( NP ( CD One ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( NNS leaders ) ) ( PP-LOC ( IN behind ) ( NP ( NP ( DT the ) ( VBN expanded ) ( NN use ) ) ( PP ( IN of ) ( NP ( CD 900 ) ( NNS numbers ) ) ) ) ) ) ) ) ( VP ( VBZ is ) ( NP-PRD ( NP ( NNP Call ) ( NNP Interactive ) ) ( NP ( NP ( DT a ) ( JJ joint ) ( NN venture ) ) ( PP ( IN of ) ( NP ( NP ( NNS giants ) ) ( NP ( NP ( NNP American ) ( NNP Express ) ( NNP Co. ) ) ( CC and ) ( NP ( NNP American ) ( NNP Telephone ) ( CC & ) ( NNP Telegraph ) ( NNP Co ) ) ) ) ) ) ) ) )

One of the leaders behind the expanded use of 900 numbers is Call Interactive a joint venture of giants American Express Co. and American Telephone & Telegraph Co


( S ( S-ADV ( VP ( VBN Formed ) ( PP-TMP ( IN in ) ( NP ( NNP August ) ) ) ) ) ( NP-SBJ-1 ( DT the ) ( NN venture ) ) ( VP ( VBZ weds ) ( NP ( NP ( NNP AT&T ) ( POS 's ) ) ( ADJP ( RB newly ) ( VBN expanded ) ) ( CD 900 ) ( NN service ) ) ( PP-CLR ( IN with ) ( NP ( NP ( CD 200 ) ( JJ voice-activated ) ( NNS computers ) ) ( PP-LOC ( IN in ) ( NP ( NP ( NNP American ) ( NNP Express ) ( POS 's ) ) ( NAC-LOC ( NNP Omaha ) ( NNP Neb. ) ) ( NN service ) ( NN center ) ) ) ) ) ) )

Formed in August the venture weds AT&T 's newly expanded 900 service with 200 voice-activated computers in American Express 's Omaha Neb. service center


( S ( S ( NP-SBJ-1 ( JJ Other ) ( NN long-distance ) ( NNS carriers ) ) ( VP ( VBP have ) ( ADVP ( RB also ) ) ( VP ( VBN begun ) ( S ( VP ( NN marketing ) ( NP ( VBN enhanced ) ( CD 900 ) ( NN service ) ) ) ) ) ) ) ( CC and ) ( S ( NP-SBJ-2 ( JJ special ) ( NNS consultants ) ) ( VP ( VBP are ) ( VP ( VBG springing ) ( PRT ( RP up ) ) ( S-PRP ( VP ( TO to ) ( VP ( VB exploit ) ( NP ( DT the ) ( JJ new ) ( NN tool ) ) ) ) ) ) ) ) )

Other long-distance carriers have also begun marketing enhanced 900 service and special consultants are springing up to exploit the new tool


( S ( NP-SBJ ( NP ( NNP Blair ) ( NNP Entertainment ) ) ( NP ( NP ( DT a ) ( NNP New ) ( NNP York ) ( NN firm ) ) ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( VP ( VP ( VBZ advises ) ( NP ( NN TV ) ( NNS stations ) ) ) ( CC and ) ( VP ( VBZ sells ) ( NP ( NNS ads ) ) ( PP ( IN for ) ( NP ( PRP them ) ) ) ) ) ) ) ) ) ( VP ( VBZ has ) ( ADVP-TMP ( RB just ) ) ( VP ( VBN formed ) ( NP ( NP ( DT a ) ( NN subsidiary ) ) ( NP ( CD 900 ) ( NNP Blair ) ) ( SBAR-PRP ( S ( VP ( TO to ) ( VP ( VB apply ) ( NP ( DT the ) ( NN technology ) ) ( PP-CLR ( TO to ) ( NP ( NN television ) ) ) ) ) ) ) ) ) ) )

Blair Entertainment a New York firm that advises TV stations and sells ads for them has just formed a subsidiary 900 Blair to apply the technology to television


( S ( NP-SBJ ( NP ( DT The ) ( NN use ) ) ( PP ( IN of ) ( NP ( CD 900 ) ( NN toll ) ( NNS numbers ) ) ) ) ( VP ( VBZ has ) ( VP ( VBN been ) ( VP ( VBG expanding ) ( ADVP-MNR ( RB rapidly ) ) ( PP-TMP ( IN in ) ( NP ( JJ recent ) ( NNS years ) ) ) ) ) ) )

The use of 900 toll numbers has been expanding rapidly in recent years


( S ( S ( PP-TMP ( IN For ) ( NP ( DT a ) ( NN while ) ) ) ( NP-SBJ ( NP ( JJ high-cost ) ( NN pornography ) ( NNS lines ) ) ( CC and ) ( NP ( NP ( NNS services ) ) ( SBAR ( WHNP-2 ( WDT that ) ) ( S ( VP ( VBP tempt ) ( S ( NP-SBJ ( NNS children ) ) ( VP ( TO to ) ( VP ( VB dial ) ( PRN ( CC and ) ( VB redial ) ) ( NP ( NN movie ) ( CC or ) ( NN music ) ( NN information ) ) ) ) ) ) ) ) ) ) ( VP ( VBD earned ) ( NP ( DT the ) ( NN service ) ) ( NP ( DT a ) ( ADJP ( RB somewhat ) ( JJ sleazy ) ) ( NN image ) ) ) ) ( CC but ) ( S ( NP-SBJ-1 ( JJ new ) ( JJ legal ) ( NNS restrictions ) ) ( VP ( VBP are ) ( VP ( VBN aimed ) ( PP ( IN at ) ( S-NOM ( VP ( VBG trimming ) ( NP ( NNS excesses ) ) ) ) ) ) ) ) )

For a while high-cost pornography lines and services that tempt children to dial and redial movie or music information earned the service a somewhat sleazy image but new legal restrictions are aimed at trimming excesses


( S ( NP-SBJ-1 ( NP ( DT The ) ( NN cost ) ) ( PP ( IN of ) ( NP ( DT a ) ( CD 900 ) ( NN call ) ) ) ) ( VP ( VBZ is ) ( VP ( VBN set ) ( PP ( IN by ) ( NP-LGS ( NP ( DT the ) ( NN originator ) ) ( PRN ( NP ( NNP ABC ) ( NNPS Sports ) ) ( PP ( IN for ) ( NP ( NN example ) ) ) ) ) ) ( PP ( IN with ) ( NP ( NP ( DT the ) ( JJS cheapest ) ) ( VP ( NN starting ) ( PP-CLR ( IN at ) ( NP ( CD 75 ) ( NNS cents ) ) ) ) ) ) ) ) )

The cost of a 900 call is set by the originator ABC Sports for example with the cheapest starting at 75 cents


( S ( NP-SBJ-1 ( NN Billing ) ) ( VP ( VBZ is ) ( VP ( VBN included ) ( PP-LOC-CLR ( IN in ) ( NP ( NP ( DT a ) ( NN caller ) ( POS 's ) ) ( JJ regular ) ( NN phone ) ( NN bill ) ) ) ) ) )

Billing is included in a caller 's regular phone bill


( S ( PP ( IN From ) ( NP ( DT the ) ( NN fee ) ) ) ( NP-SBJ-3 ( NP ( DT the ) ( JJ local ) ( NN phone ) ( NN company ) ) ( CC and ) ( NP ( DT the ) ( NN long-distance ) ( NN carrier ) ) ) ( VP ( VB extract ) ( NP ( NP ( PRP$ their ) ( NNS costs ) ) ( SBAR ( S ( VP ( TO to ) ( VP ( VB carry ) ( NP ( DT the ) ( NN call ) ) ) ) ) ) ) ( S-ADV ( VP ( VBG passing ) ( NP ( NP ( DT the ) ( NN rest ) ) ( PP ( IN of ) ( NP ( DT the ) ( NN money ) ) ) ) ( PP-CLR ( TO to ) ( NP ( NP ( DT the ) ( NN originator ) ) ( SBAR ( WHNP-1 ( WDT which ) ) ( S ( VP ( MD must ) ( VP ( VB cover ) ( NP ( NP ( NN advertising ) ) ( CC and ) ( NP ( JJ other ) ( NNS costs ) ) ) ) ) ) ) ) ) ) ) ) )

From the fee the local phone company and the long-distance carrier extract their costs to carry the call passing the rest of the money to the originator which must cover advertising and other costs


( S ( PP-TMP ( IN In ) ( NP ( JJ recent ) ( NNS months ) ) ) ( NP-SBJ-1 ( DT the ) ( NN technology ) ) ( VP ( VBZ has ) ( VP ( VBN become ) ( ADJP-PRD ( ADJP ( RBR more ) ( JJ flexible ) ) ( CC and ) ( ADJP ( JJ able ) ( S ( VP ( TO to ) ( VP ( VB handle ) ( NP ( ADJP ( RB much ) ( JJR more ) ) ( NN volume ) ) ) ) ) ) ) ) ) )

In recent months the technology has become more flexible and able to handle much more volume


( S ( ADVP-TMP ( IN Before ) ) ( S ( NP-SBJ ( NP ( NNS callers ) ) ( PP ( IN of ) ( NP ( CD 900 ) ( NNS numbers ) ) ) ) ( VP ( MD would ) ( VP ( VP ( ADVP ( RB just ) ) ( VB listen ) ) ( CC and ) ( VP ( RB not ) ( VB talk ) ) ) ) ) ( CC or ) ( S ( NP-SBJ ( PRP they ) ) ( VP ( MD 'd ) ( VP ( VB vote ) ( INTJ ( INTJ ( UH yes ) ) ( CC or ) ( INTJ ( UH no ) ) ) ( PP-MNR ( IN by ) ( S-NOM ( VP ( VBG calling ) ( NP ( NP ( CD one ) ) ( PP ( IN of ) ( NP ( CD two ) ( NNS numbers ) ) ) ) ) ) ) ) ) ) )

Before callers of 900 numbers would just listen and not talk or they 'd vote yes or no by calling one of two numbers


( S ( NP-SBJ ( NP ( NNS People ) ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( NN phone ) ( NN business ) ) ) ) ( VP ( VBP call ) ( S ( NP-SBJ ( DT this ) ( NN technology ) ) ( NP-PRD ( CD 900 ) ( NN click ) ) ) ) )

People in the phone business call this technology 900 click


( S ( ADVP-TMP ( RB Now ) ) ( S ( NP-SBJ-1 ( NNS callers ) ) ( VP ( VBP are ) ( VP ( VBN led ) ( PP-CLR ( IN through ) ( NP ( NP ( JJ complex ) ( NNS menus ) ) ( PP ( IN of ) ( NP ( NNS choices ) ) ) ) ) ( S-PRP ( VP ( TO to ) ( VP ( VB retrieve ) ( NP ( NP ( NN information ) ) ( SBAR ( S ( NP-SBJ ( PRP they ) ) ( VP ( VBP want ) ) ) ) ) ) ) ) ) ) ) ( CC and ) ( S ( NP-SBJ ( DT the ) ( NN hardware ) ) ( VP ( MD can ) ( VP ( VB process ) ( NP ( CD 10,000 ) ( NNS calls ) ) ( PP-TMP ( IN in ) ( NP ( CD 90 ) ( NNS seconds ) ) ) ) ) ) )

Now callers are led through complex menus of choices to retrieve information they want and the hardware can process 10,000 calls in 90 seconds


( S ( PP-TMP ( IN Up ) ( PP ( TO to ) ( RB now ) ) ) ( NP-SBJ-1 ( CD 900 ) ( NNS numbers ) ) ( VP ( VBP have ) ( ADVP ( RB mainly ) ) ( VP ( VBN been ) ( VP ( VBN used ) ( PP-LOC ( IN on ) ( NP ( NP ( JJ local ) ( NN TV ) ( NNS stations ) ) ( CC and ) ( NP ( NN cable ) ( NNS channels ) ) ) ) ) ) ) )

Up to now 900 numbers have mainly been used on local TV stations and cable channels


( S ( NP-SBJ-1 ( NNP MTV ) ) ( VP ( VBD used ) ( NP ( NN one ) ) ( S-CLR ( VP ( TO to ) ( VP ( VB give ) ( PRT ( RP away ) ) ( NP ( NP ( DT the ) ( NN house ) ) ( SBAR ( WHNP-2 ( DT that ) ) ( S ( NP-SBJ ( NN rock ) ( NN star ) ( NNP Jon ) ( NNP Bon ) ( NNP Jovi ) ) ( VP ( VBD grew ) ( PRT ( RP up ) ) ( PP-LOC ( RB in ) ) ) ) ) ) ) ) ) ) )

MTV used one to give away the house that rock star Jon Bon Jovi grew up in


( S ( S ( PP-TMP ( IN For ) ( NP ( JJ several ) ( NNS years ) ) ) ( NP-SBJ ( NP ( NNP Turner ) ( NNP Broadcasting ) ( NNP System ) ( POS 's ) ) ( NNP Cable ) ( NNP News ) ( NNP Network ) ) ( VP ( VBZ has ) ( VP ( VBN invited ) ( S ( NP-SBJ ( NNS viewers ) ) ( VP ( TO to ) ( VP ( VB respond ) ( ADVP-TMP ( RB nightly ) ) ( PP-CLR ( TO to ) ( NP ( NP ( JJ topical ) ( NNS issues ) ) ( PRN ( SQ ( NNP Should ) ( NP-SBJ ( DT the ) ( NNP U.S. ) ( NN military ) ) ( VP ( VB intervene ) ( PP-LOC ( IN in ) ( NP ( NNP Panama ) ) ) ) ) ) ) ) ) ) ) ) ) ) ( CC but ) ( S ( NP-SBJ ( NP ( RB even ) ( DT the ) ( JJS hottest ) ( NNS controversies ) ) ( PP-LOC ( IN on ) ( NP ( NNP CNN ) ) ) ) ( VP ( VBP log ) ( NP ( QP ( RB only ) ( IN about ) ( CD 10,000 ) ) ( NNS calls ) ) ) ) )

For several years Turner Broadcasting System 's Cable News Network has invited viewers to respond nightly to topical issues Should the U.S. military intervene in Panama but even the hottest controversies on CNN log only about 10,000 calls


( S ( NP-SBJ ( NP ( DT The ) ( JJS newest ) ( NNS uses ) ) ( PP ( IN of ) ( NP ( DT the ) ( JJ 900-interactive ) ( NN technology ) ) ) ) ( VP ( VBP demonstrate ) ( NP ( NP ( DT the ) ( VBG growing ) ( NN variety ) ) ( PP ( IN of ) ( NP ( NNS applications ) ) ) ) ) )

The newest uses of the 900-interactive technology demonstrate the growing variety of applications


( S ( NP-SBJ-1 ( NP ( NNP Capital ) ( NNP Cities\/ABC ) ( NNP Inc. ) ) ( NP ( NNP CBS ) ( NNP Inc. ) ) ( CC and ) ( NP ( NP ( NNP General ) ( NNP Electric ) ( NNP Co. ) ( POS 's ) ) ( NNP National ) ( NNP Broadcasting ) ( NNP Co. ) ( NN unit ) ) ) ( VP ( VBP are ) ( VP ( VBN expected ) ( S ( VP ( TO to ) ( VP ( VB announce ) ( ADVP-TMP ( RB soon ) ) ( NP ( NP ( DT a ) ( JJ joint ) ( NN campaign ) ) ( SBAR-PRP ( S ( VP ( TO to ) ( VP ( VB raise ) ( NP ( NP ( NN awareness ) ) ( PP ( IN about ) ( NP ( NN hunger ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Capital Cities\/ABC Inc. CBS Inc. and General Electric Co. 's National Broadcasting Co. unit are expected to announce soon a joint campaign to raise awareness about hunger


( S ( S ( NP-SBJ-1 ( DT The ) ( NN subject ) ) ( VP ( MD will ) ( VP ( VB be ) ( VP ( VBN written ) ( PP-CLR ( IN into ) ( NP ( NP ( DT the ) ( NNS plots ) ) ( PP ( IN of ) ( NP ( JJ prime-time ) ( NNS shows ) ) ) ) ) ) ) ) ) ( CC and ) ( S ( NP-SBJ-2 ( NNS viewers ) ) ( VP ( MD will ) ( VP ( VB be ) ( VP ( VBN given ) ( NP ( NP ( DT a ) ( CD 900 ) ( NN number ) ) ( SBAR ( S ( VP ( TO to ) ( VP ( VB call ) ) ) ) ) ) ) ) ) ) )

The subject will be written into the plots of prime-time shows and viewers will be given a 900 number to call


( S ( S ( NP-SBJ-1 ( NNS Callers ) ) ( VP ( MD will ) ( VP ( VB be ) ( VP ( VBN sent ) ( NP ( JJ educational ) ( NNS booklets ) ) ) ) ) ) ( CC and ) ( S ( NP-SBJ ( NP ( DT the ) ( NN call ) ( POS 's ) ) ( JJ modest ) ( NN cost ) ) ( VP ( MD will ) ( VP ( VB be ) ( NP-PRD ( NP ( DT an ) ( JJ immediate ) ( NN method ) ) ( PP ( IN of ) ( S-NOM ( VP ( VBG raising ) ( NP ( NN money ) ) ) ) ) ) ) ) ) )

Callers will be sent educational booklets and the call 's modest cost will be an immediate method of raising money


( S ( NP-SBJ ( JJ Other ) ( NN network ) ( NNS applications ) ) ( VP ( VBP have ) ( NP ( ADJP ( RB very ) ( JJ different ) ) ( NNS goals ) ) ) )

Other network applications have very different goals


( S ( NP-SBJ ( NNP ABC ) ( NNPS Sports ) ) ( VP ( VBD was ) ( VP ( VBG looking ) ( PP-CLR ( IN for ) ( NP ( NP ( NNS ways ) ) ( SBAR ( S ( VP ( TO to ) ( VP ( VB lift ) ( NP ( NP ( VBN deflated ) ( NN halftime ) ( NNS ratings ) ) ( PP ( IN for ) ( NP ( NNP Monday ) ( NNP Night ) ( NNP Football ) ) ) ) ) ) ) ) ) ) ) ) )

ABC Sports was looking for ways to lift deflated halftime ratings for Monday Night Football


( S ( NP-SBJ ( NP ( NNP Kurt ) ( NNP Sanger ) ) ( NP ( NP ( NNP ABC ) ( NNP Sports ) ( POS 's ) ) ( NN marketing ) ( NN director ) ) ) ( VP ( VBZ says ) ( SBAR ( IN that ) ( S ( ADVP-TMP ( RB now ) ) ( NP-SBJ-1 ( NP ( QP ( NNS tens ) ( IN of ) ( NNS thousands ) ) ) ( PP ( IN of ) ( NP ( NNS fans ) ) ) ) ( VP ( VBP call ) ( NP ( PRP$ its ) ( CD 900 ) ( NN number ) ) ( NP-TMP ( DT each ) ( NN week ) ) ( S-PRP ( VP ( TO to ) ( VP ( VB vote ) ( PP-CLR ( IN for ) ( NP ( DT the ) ( JJS best ) ( NX ( NX ( NN punt ) ( NN return ) ) ( NX ( NN quarterback ) ( NN sack ) ) ( FW etc ) ) ) ) ) ) ) ) ) ) ) )

Kurt Sanger ABC Sports 's marketing director says that now tens of thousands of fans call its 900 number each week to vote for the best punt return quarterback sack etc


( S ( S ( S ( NP-SBJ ( NP ( NN Profit ) ) ( PP ( IN from ) ( NP ( DT the ) ( NNS calls ) ) ) ) ( VP ( VBZ goes ) ( PP-CLR ( TO to ) ( NP ( NN charity ) ) ) ) ) ( CC but ) ( S ( NP-SBJ ( NNP ABC ) ( NNPS Sports ) ) ( ADVP ( RB also ) ) ( VP ( VBZ uses ) ( NP ( DT the ) ( NNS calls ) ) ( PP-CLR ( IN as ) ( NP ( DT a ) ( NNS sales ) ( NN tool ) ) ) ) ) ) ( S ( S ( PP-TMP ( IN After ) ( S-NOM ( VP ( VBG thanking ) ( NP ( NNS callers ) ) ( PP-CLR ( IN for ) ( NP ( NN voting ) ) ) ) ) ) ( NP-SBJ ( NNP Frank ) ( NNP Gifford ) ) ( VP ( VBZ offers ) ( NP ( DT a ) ( NN football ) ( NN videotape ) ) ( PP-CLR ( IN for ) ( NP ( CD 19.95 ) ) ) ) ) ( CC and ) ( S ( NP-SBJ-1 ( NP ( CD 5 ) ( NN % ) ) ( PP ( IN of ) ( NP ( NNS callers ) ) ) ) ( VP ( VBP stay ) ( PP-CLR ( IN on ) ( NP ( DT the ) ( NN line ) ) ) ( S-PRP ( VP ( TO to ) ( VP ( VB order ) ( NP ( PRP it ) ) ) ) ) ) ) ) )

Profit from the calls goes to charity but ABC Sports also uses the calls as a sales tool After thanking callers for voting Frank Gifford offers a football videotape for 19.95 and 5 % of callers stay on the line to order it


( S ( NP-SBJ-1 ( NNS Jackets ) ) ( VP ( MD may ) ( VP ( VB be ) ( VP ( VBN sold ) ( ADVP-TMP ( RB next ) ) ) ) ) )

Jackets may be sold next


( S ( ADVP ( RB Meanwhile ) ) ( NP-SBJ ( NNP NBC ) ( NNPS Sports ) ) ( ADVP-TMP ( RB recently ) ) ( VP ( VBD began ) ( NP ( NP ( NNPS Scores ) ( NNP Plus ) ) ( NP ( NP ( DT a ) ( JJ year-round ) ( JJ 24-hour ) ( CD 900 ) ( NN line ) ) ( VP ( VBG providing ) ( NP ( NP ( DT a ) ( JJ complex ) ( NN array ) ) ( PP ( IN of ) ( NP ( NP ( NNS scores ) ) ( NP ( NN analysis ) ) ( CC and ) ( NP ( NN fan ) ( NN news ) ) ) ) ) ) ) ) ) )

Meanwhile NBC Sports recently began Scores Plus a year-round 24-hour 900 line providing a complex array of scores analysis and fan news


( S ( NP-SBJ ( DT A ) ( NN spokesman ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( PRP$ its ) ( NN purpose ) ) ( VP ( VBZ is ) ( S-PRD ( VP ( TO to ) ( VP ( VB bolster ) ( NP ( DT the ) ( NN impression ) ( SBAR ( IN that ) ( S ( NP-SBJ ( NNP NBC ) ( NNP Sports ) ) ( VP ( VBZ is ) ( ADVP-TMP ( RB always ) ) ( ADVP-LOC-PRD ( RB there ) ( PP ( IN for ) ( NP ( NNS people ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

A spokesman said its purpose is to bolster the impression that NBC Sports is always there for people


( S ( NP-SBJ ( NP ( NNP NBC ) ( POS 's ) ) ( JJ On-Line ) ( NN consumer ) ( NNS minutes ) ) ( VP ( VBP have ) ( VP ( VBN increased ) ( NP ( NN advertiser ) ( NN spending ) ) ( PP-TMP ( IN during ) ( NP ( NP ( DT the ) ( NN day ) ) ( NP ( NP ( DT the ) ( NN network ) ( POS 's ) ) ( JJS weakest ) ( NN period ) ) ) ) ) ) )

NBC 's On-Line consumer minutes have increased advertiser spending during the day the network 's weakest period


( S ( S ( NP-SBJ ( DT Each ) ( NN weekday ) ) ( VP ( VBZ matches ) ( NP ( NP ( DT a ) ( NN sponsor ) ) ( CC and ) ( NP ( DT a ) ( NN topic ) ) ) ) ) ( S ( PP-TMP ( IN On ) ( NP ( NNPS Mondays ) ) ) ( NP-SBJ ( NP ( NNP Unilever ) ( NNP N.V. ) ( POS 's ) ) ( NNP Lever ) ( NNPS Bros. ) ) ( VP ( VBZ sponsors ) ( NP ( NP ( NNS tips ) ) ( PP ( IN on ) ( NP ( NN diet ) ( CC and ) ( NN exercise ) ) ) ( VP ( VBN followed ) ( PP ( IN by ) ( NP-LGS ( DT a ) ( JJ 30-second ) ( NNP Lever ) ( NNPS Bros. ) ( NN commercial ) ) ) ) ) ) ) )

Each weekday matches a sponsor and a topic On Mondays Unilever N.V. 's Lever Bros. sponsors tips on diet and exercise followed by a 30-second Lever Bros. commercial


( S ( S ( NP-SBJ ( NNS Viewers ) ) ( VP ( MD can ) ( VP ( VB call ) ( NP ( DT a ) ( CD 900 ) ( NN number ) ) ( PP-CLR ( IN for ) ( NP ( NP ( JJ additional ) ( NN advice ) ) ( SBAR ( WHNP-2 ( WDT which ) ) ( S ( VP ( MD will ) ( VP ( VB be ) ( VP ( VBN tailored ) ( PP-CLR ( TO to ) ( NP ( PRP$ their ) ( NNS needs ) ) ) ( PP ( VBN based ) ( PP ( IN on ) ( NP ( NP ( DT the ) ( NNS numbers ) ) ( SBAR ( S ( NP-SBJ ( PRP they ) ) ( VP ( VBP punch ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ( PRN ( S ( S ( VP ( VB Press ) ( NP ( CD one ) ) ( SBAR-ADV ( IN if ) ( S ( NP-SBJ ( PRP you ) ) ( VP ( VBP 're ) ( ADJP-PRD ( JJ pregnant ) ) ) ) ) ) ) ( FW etc ) ) ) )

Viewers can call a 900 number for additional advice which will be tailored to their needs based on the numbers they punch Press one if you 're pregnant etc


( S ( SBAR-ADV ( IN If ) ( S ( NP-SBJ ( DT the ) ( NN caller ) ) ( VP ( VP ( VBZ stays ) ( PP-CLR ( IN on ) ( NP ( DT the ) ( NN line ) ) ) ) ( CC and ) ( VP ( VBZ leaves ) ( NP ( DT a ) ( NN name ) ( CC and ) ( NN address ) ) ( PP-BNF ( IN for ) ( NP ( DT the ) ( NN sponsor ) ) ) ) ) ) ) ( S ( NP-SBJ-1 ( NP ( NNS coupons ) ) ( CC and ) ( NP ( DT a ) ( NN newsletter ) ) ) ( VP ( MD will ) ( VP ( VB be ) ( VP ( VBN mailed ) ) ) ) ) ( CC and ) ( S ( NP-SBJ-2 ( DT the ) ( NN sponsor ) ) ( VP ( MD will ) ( VP ( VB be ) ( ADJP-PRD ( JJ able ) ( S ( VP ( TO to ) ( VP ( VB gather ) ( NP ( NP ( DT a ) ( NN list ) ) ( PP ( IN of ) ( NP ( JJ desirable ) ( JJ potential ) ( NNS customers ) ) ) ) ) ) ) ) ) ) ) )

If the caller stays on the line and leaves a name and address for the sponsor coupons and a newsletter will be mailed and the sponsor will be able to gather a list of desirable potential customers


( S ( NP-SBJ ( NP ( NNP Diane ) ( NNP Seaman ) ) ( NP ( DT an ) ( NNP NBC-TV ) ( NN vice ) ( NN president ) ) ) ( VP ( VBZ says ) ( SBAR ( S ( NP-SBJ-1 ( NNP NBC ) ) ( VP ( VBZ has ) ( VP ( VBN been ) ( ADJP-PRD ( JJ able ) ( S ( VP ( TO to ) ( VP ( VB charge ) ( NP ( JJ premium ) ( NNS rates ) ) ( PP-CLR ( IN for ) ( NP ( DT this ) ( NN ad ) ( NN time ) ) ) ) ) ) ) ) ) ) ) ) )

Diane Seaman an NBC-TV vice president says NBC has been able to charge premium rates for this ad time


( S ( S ( NP-SBJ ( PRP She ) ) ( VP ( MD would ) ( RB n't ) ( VP ( VB say ) ( SBAR ( WHNP-1 ( WP what ) ) ( S ( NP-SBJ ( DT the ) ( NN premium ) ) ( VP ( VBZ is ) ) ) ) ) ) ) ( CC but ) ( S ( NP-SBJ-2 ( PRP it ) ) ( VP ( VBZ 's ) ( VP ( VBN believed ) ( S ( VP ( TO to ) ( VP ( VB be ) ( NP-PRD ( NP ( QP ( IN about ) ( CD 40 ) ) ( NN % ) ) ( PP-LOC ( IN above ) ( NP ( JJ regular ) ( JJ daytime ) ( NNS rates ) ) ) ) ) ) ) ) ) ) )

She would n't say what the premium is but it 's believed to be about 40 % above regular daytime rates


( SINV ( S-TPC-3 ( NP-SBJ-1 ( PRP We ) ) ( VP ( VBD were ) ( ADJP-PRD ( JJ able ) ( S ( VP ( TO to ) ( VP ( VB get ) ( S ( NP-SBJ ( NNS advertisers ) ) ( VP ( TO to ) ( VP ( VB use ) ( NP ( PRP$ their ) ( NN promotion ) ( NN budget ) ) ( PP-CLR ( IN for ) ( NP ( DT this ) ) ) ( SBAR-PRP ( IN because ) ( S ( NP-SBJ ( PRP they ) ) ( VP ( VBP get ) ( NP ( NP ( DT a ) ( NN chance ) ) ( SBAR ( S ( VP ( TO to ) ( VP ( VB do ) ( NP ( NN couponing ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ( VP ( VBZ says ) ) ( NP-SBJ ( NNP Ms. ) ( NNP Seaman ) ) )

We were able to get advertisers to use their promotion budget for this because they get a chance to do couponing says Ms. Seaman


( S ( CC And ) ( NP-SBJ-1 ( PRP we ) ) ( VP ( VBD were ) ( ADJP-PRD ( JJ able ) ( S ( VP ( TO to ) ( VP ( VB attract ) ( NP ( DT some ) ( JJ new ) ( NNS advertisers ) ) ( SBAR-PRP ( IN because ) ( S ( NP-SBJ ( DT this ) ) ( VP ( VBZ is ) ( NP-PRD ( NN something ) ( JJ new ) ) ) ) ) ) ) ) ) ) )

And we were able to attract some new advertisers because this is something new


( S ( NP-SBJ ( NP ( NNP Mr. ) ( NNP Parks ) ) ( PP ( IN of ) ( NP ( NNP Call ) ( NNP Interactive ) ) ) ) ( VP ( VBZ says ) ( SBAR ( S ( NP-SBJ ( NN TV ) ( NNS executives ) ) ( VP ( VBP are ) ( VP ( VBG considering ) ( NP ( NP ( DT the ) ( NN use ) ) ( PP ( IN of ) ( NP ( CD 900 ) ( NNS numbers ) ) ) ( PP ( IN for ) ( NP ( NP ( NN talk ) ( NNS shows ) ) ( NP ( NN game ) ( NNS shows ) ) ( NP ( NN news ) ) ( CC and ) ( NP ( NN opinion ) ( NNS surveys ) ) ) ) ) ) ) ) ) ) )

Mr. Parks of Call Interactive says TV executives are considering the use of 900 numbers for talk shows game shows news and opinion surveys


( S ( NP-SBJ ( NNS Experts ) ) ( VP ( VBP are ) ( VP ( VBG predicting ) ( NP ( NP ( DT a ) ( JJ big ) ( NN influx ) ) ( PP ( IN of ) ( NP ( JJ new ) ( NNS shows ) ) ) ) ( PP-TMP ( IN in ) ( NP ( NP ( CD 1990 ) ) ( SBAR ( WHADVP-1 ( WRB when ) ) ( S ( NP-SBJ ( NP ( DT a ) ( NN service ) ) ( VP ( VBN called ) ( S ( NP-PRD ( JJ automatic ) ( NN number ) ( NN information ) ) ) ) ) ( VP ( MD will ) ( VP ( VB become ) ( ADJP-PRD ( RB widely ) ( JJ available ) ) ) ) ) ) ) ) ) ) )

Experts are predicting a big influx of new shows in 1990 when a service called automatic number information will become widely available


( S ( S ( NP-SBJ ( DT This ) ( NN service ) ) ( VP ( VBZ identifies ) ( NP ( NP ( DT each ) ( NN caller ) ( POS 's ) ) ( NN phone ) ( NN number ) ) ) ) ( CC and ) ( S ( NP-SBJ-1 ( PRP it ) ) ( VP ( MD can ) ( VP ( VB be ) ( VP ( VBN used ) ( S-CLR ( VP ( TO to ) ( VP ( VB generate ) ( NP ( JJ instant ) ( NN mailing ) ( NNS lists ) ) ) ) ) ) ) ) ) )

This service identifies each caller 's phone number and it can be used to generate instant mailing lists


( SINV ( S-TPC-2 ( NP-SBJ ( NP-TTL ( NNP Hard ) ( NNP Copy ) ) ( NP ( NP ( DT the ) ( JJ new ) ( JJ syndicated ) ( JJ tabloid ) ( NN show ) ) ( PP ( IN from ) ( NP ( NNP Paramount ) ( NNPS Pictures ) ) ) ) ) ( VP ( MD will ) ( VP ( VB use ) ( NP ( PRP$ its ) ( CD 900 ) ( NN number ) ) ( PP-CLR ( IN for ) ( NP ( NP ( JJ additional ) ( NNS purposes ) ) ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( VP ( VBP include ) ( NP ( NN research ) ) ) ) ) ) ) ) ) ) ( VP ( VBZ says ) ) ( NP-SBJ ( NN executive ) ( NN producer ) ( NNP Mark ) ( NNP B. ) ( NNP von ) ( NNP S. ) ( NNP Monsky ) ) )

Hard Copy the new syndicated tabloid show from Paramount Pictures will use its 900 number for additional purposes that include research says executive producer Mark B. von S. Monsky


( S ( S-TPC-4 ( PP ( IN For ) ( NP ( NP ( DT a ) ( NN piece ) ) ( PP ( IN on ) ( NP ( NP ( JJ local ) ( NNS heroes ) ) ( PP ( IN of ) ( NP ( NNP World ) ( NNP War ) ( NNP II ) ) ) ) ) ) ) ( NP-SBJ ( PRP we ) ) ( VP ( MD can ) ( VP ( VB ask ) ( NP-2 ( NNS people ) ) ( S ( VP ( TO to ) ( VP ( VB leave ) ( NP ( NP ( DT the ) ( NN name ) ( CC and ) ( NN number ) ) ( PP ( IN of ) ( NP ( NP ( NN anyone ) ) ( SBAR ( SBAR ( S ( NP-SBJ ( PRP they ) ) ( VP ( VBP know ) ) ) ) ( SBAR ( WHNP-1 ( WP who ) ) ( S ( VP ( VBD won ) ( NP ( DT a ) ( NN medal ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ( NP-SBJ ( PRP he ) ) ( VP ( VBZ says ) ) )

For a piece on local heroes of World War II we can ask people to leave the name and number of anyone they know who won a medal he says


( S ( NP-SBJ ( DT That ) ) ( VP ( MD 'll ) ( VP ( VP ( VB save ) ( NP-BNF ( PRP us ) ) ( NP ( NN time ) ) ) ( CC and ) ( VP ( VB get ) ( S ( NP-SBJ ( NNS people ) ) ( ADJP-PRD ( VBN involved ) ) ) ) ) ) )

That 'll save us time and get people involved


( S ( CC But ) ( NP-SBJ ( NNP Mr. ) ( NNP Monsky ) ) ( VP ( VBZ sees ) ( NP ( ADJP ( RB much ) ( JJR bigger ) ) ( NNS changes ) ) ( ADVP-LOC ( RB ahead ) ) ) )

But Mr. Monsky sees much bigger changes ahead


( S ( S-TPC-3 ( NP-SBJ ( DT These ) ) ( VP ( VBP are ) ( NP-PRD ( NP ( RB just ) ( NN baby ) ( NNS steps ) ) ( PP ( IN toward ) ( NP ( NP ( JJ real ) ( JJ interactive ) ( NN video ) ) ( SBAR ( WHNP-1 ( WDT which ) ) ( S ( NP-SBJ ( PRP I ) ) ( VP ( VBP believe ) ( SBAR ( S ( VP ( MD will ) ( VP ( VB be ) ( NP-PRD ( NP ( DT the ) ( JJS biggest ) ( NN thing ) ) ( ADVP ( RB yet ) ) ( SBAR ( S ( VP ( TO to ) ( VP ( VB affect ) ( NP ( NN television ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ( NP-SBJ ( PRP he ) ) ( VP ( VBZ says ) ) )

These are just baby steps toward real interactive video which I believe will be the biggest thing yet to affect television he says


( S ( SBAR-ADV ( IN Although ) ( S ( NP-SBJ ( NP ( PRP it ) ) ) ( VP ( MD would ) ( VP ( VB be ) ( ADJP-PRD ( JJ costly ) ) ( S-1 ( VP ( TO to ) ( VP ( VB shoot ) ( NP ( JJ multiple ) ( NNS versions ) ) ) ) ) ) ) ) ) ( NP-SBJ ( NN TV ) ( NNS programmers ) ) ( VP ( MD could ) ( VP ( VB let ) ( S ( NP-SBJ ( NNS audiences ) ) ( VP ( VB vote ) ( PP-CLR ( IN on ) ( NP ( NP ( JJ different ) ( NNS endings ) ) ( PP ( IN for ) ( NP ( DT a ) ( NN movie ) ) ) ) ) ) ) ) ) )

Although it would be costly to shoot multiple versions TV programmers could let audiences vote on different endings for a movie


( S ( NP-SBJ ( NNP Fox ) ( NNP Broadcasting ) ) ( VP ( VBD experimented ) ( PP-CLR ( IN with ) ( NP ( DT this ) ( NN concept ) ) ) ( NP-TMP ( NP ( JJ last ) ( NN year ) ) ( SBAR ( WHADVP ( WRB when ) ) ( S ( NP-SBJ ( NP ( NNS viewers ) ) ( PP ( IN of ) ( ADJP-TTL ( JJ Married ) ( PP ( IN With ) ( NP ( NNP Children ) ) ) ) ) ) ( VP ( VBD voted ) ( PP-CLR ( IN on ) ( SBAR ( IN whether ) ( S ( NP-SBJ ( NNP Al ) ) ( VP ( MD should ) ( VP ( VB say ) ( S ( NP-SBJ ( PRP I ) ) ( VP ( VBP love ) ( NP ( PRP you ) ) ) ) ( PP ( TO to ) ( NP ( NNP Peg ) ) ) ( PP-TMP ( IN on ) ( NP ( NP ( NNP Valentine ) ( POS 's ) ) ( NNP Day ) ) ) ) ) ) ) ) ) ) ) ) ) )

Fox Broadcasting experimented with this concept last year when viewers of Married With Children voted on whether Al should say I love you to Peg on Valentine 's Day


( S ( ADVP-TMP ( RB Someday ) ) ( NP-SBJ ( NNS viewers ) ) ( VP ( MD may ) ( ADVP ( RB also ) ) ( VP ( VB choose ) ( NP ( NP ( JJ different ) ( NNS depths ) ) ( PP ( IN of ) ( NP ( NN news ) ( NN coverage ) ) ) ) ) ) )

Someday viewers may also choose different depths of news coverage


( S ( S-TPC-1 ( NP-SBJ ( NP ( DT A ) ( NN menu ) ) ( PP ( IN by ) ( NP ( NN phone ) ) ) ) ( VP ( MD could ) ( VP ( VB let ) ( S ( NP-SBJ ( PRP you ) ) ( VP ( VB decide ) ( S ( S ( NP-SBJ ( PRP I ) ) ( VP ( VBP 'm ) ( ADJP-PRD ( JJ interested ) ( PP ( IN in ) ( NP ( NP ( RB just ) ( DT the ) ( NN beginning ) ) ( PP ( IN of ) ( NP ( NN story ) ( NN No. ) ( CD 1 ) ) ) ) ) ) ) ) ( CC and ) ( S ( NP-SBJ ( PRP I ) ) ( VP ( VBP want ) ( NP ( NN story ) ( NN No. ) ( CD 2 ) ) ( PP-MNR ( IN in ) ( NP ( NN depth ) ) ) ) ) ) ) ) ) ) ) ( NP-SBJ ( NNP Mr. ) ( NNP Monsky ) ) ( VP ( VBZ says ) ) )

A menu by phone could let you decide I 'm interested in just the beginning of story No. 1 and I want story No. 2 in depth Mr. Monsky says


( S ( NP-SBJ-1 ( PRP You ) ) ( VP ( MD 'll ) ( VP ( VB start ) ( S ( VP ( TO to ) ( VP ( VB see ) ( NP ( NP ( NNS shows ) ) ( SBAR ( WHADVP-2 ( WRB where ) ) ( S ( NP-SBJ ( NNS viewers ) ) ( VP ( VBP program ) ( NP ( DT the ) ( NN program ) ) ) ) ) ) ) ) ) ) ) )

You 'll start to see shows where viewers program the program


( S ( NP-SBJ ( NNP CONTINENTAL ) ( NNP MORTGAGE ) ( CC & ) ( NNP EQUITY ) ( NNP TRUST ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( PRP it ) ) ( VP ( MD will ) ( VP ( VB resume ) ( NP ( NN dividend ) ( NNS payments ) ) ( PP-MNR ( IN with ) ( NP ( NP ( DT a ) ( JJ 10-cent-a-share ) ( NN payout ) ) ( PP-TMP ( IN on ) ( NP ( NNP Nov. ) ( CD 6 ) ) ) ( PP ( TO to ) ( NP ( NP ( NP ( NNS shares ) ) ( PP ( IN of ) ( NP ( NN record ) ) ) ) ( NP-TMP ( NNP Oct. ) ( CD 25 ) ) ) ) ) ) ) ) ) ) ) )

CONTINENTAL MORTGAGE & EQUITY TRUST said it will resume dividend payments with a 10-cent-a-share payout on Nov. 6 to shares of record Oct. 25