( S ( ADVP ( RB However ) ) ( NP-SBJ ( NNP Judge ) ( NNP Weinstein ) ) ( VP ( VBD wrote ) ( PP-LOC ( IN in ) ( NP ( PRP$ his ) ( NN opinion ) ) ) ( NP-TMP ( RB late ) ( JJ last ) ( NN month ) ) ( SBAR ( DT that ) ( S ( NP-SBJ-1 ( NP ( NP ( NN terrorism ) ) ( CC and ) ( NP ( NP ( NNS acts ) ) ( PP ( IN of ) ( NP ( NN war ) ) ) ) ) ( PP ( IN against ) ( NP ( NNS civilians ) ) ) ) ( VP ( MD can ) ( RB not ) ( VP ( VB be ) ( VP ( VBN defined ) ( PP-CLR ( IN as ) ( NP ( JJ political ) ( NNS acts ) ) ) ) ) ) ) ) ) )

However Judge Weinstein wrote in his opinion late last month that terrorism and acts of war against civilians can not be defined as political acts


( S ( NP-SBJ ( NNP Judge ) ( NNP Weinstein ) ) ( ADVP ( RB also ) ) ( VP ( VBD ruled ) ( SBAR ( IN that ) ( S ( NP-SBJ ( NNS judges ) ) ( VP ( MD must ) ( VP ( VB consider ) ( PP-TMP ( RB prior ) ( PP ( TO to ) ( NP ( NN extradition ) ) ) ) ( SBAR ( IN whether ) ( S ( NP-SBJ-1 ( DT the ) ( NN defendant ) ) ( VP ( MD will ) ( VP ( VB be ) ( VP ( VBN treated ) ( ADVP-MNR ( RB fairly ) ) ( PP-LOC ( IN in ) ( NP ( DT a ) ( JJ foreign ) ( NN court ) ) ) ) ) ) ) ) ) ) ) ) ) )

Judge Weinstein also ruled that judges must consider prior to extradition whether the defendant will be treated fairly in a foreign court


( S-2 ( S-PRP ( VP ( TO To ) ( VP ( VB do ) ( ADVP-PRD ( RB so ) ) ) ) ) ( PRN ( S ( NP-SBJ ( DT the ) ( NN judge ) ) ( VP ( VBD said ) ) ) ) ( NP-SBJ-1 ( DT the ) ( NNP U.S. ) ( NNS courts ) ) ( VP ( MD must ) ( VP ( VB review ) ( NP ( NP ( DT the ) ( JJ judicial ) ( NN process ) ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( JJ foreign ) ( NN country ) ) ) ) ( ADVP-MNR ( RB independently ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( NNP State ) ( NNP Department ) ( POS 's ) ) ( NN assessment ) ) ) ) ) ) )

To do so the judge said the U.S. courts must review the judicial process in the foreign country independently of the State Department 's assessment


( S ( NP-SBJ ( PRP He ) ) ( VP ( VBD said ) ( SBAR ( IN that ) ( S ( PP-LOC ( IN in ) ( NP ( DT this ) ( NN case ) ) ) ( NP-SBJ ( PRP he ) ) ( VP ( VBD concurred ) ( PP-CLR ( IN with ) ( NP ( NP ( DT the ) ( NNP State ) ( NNP Department ) ( POS 's ) ) ( NN decision ) ( SBAR ( IN that ) ( S ( NP-SBJ-1 ( NNP Mr. ) ( NNP Ahmad ) ) ( VP ( MD should ) ( VP ( VB be ) ( VP ( VBN extradited ) ) ) ) ) ) ) ) ) ) ) ) )

He said that in this case he concurred with the State Department 's decision that Mr. Ahmad should be extradited


( S ( NP-SBJ ( NP ( NNP Mr. ) ( NNP Ahmad ) ( POS 's ) ) ( NN lawyer ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( PRP he ) ) ( VP ( MD would ) ( VP ( VB appeal ) ) ) ) ) ) )

Mr. Ahmad 's lawyer said he would appeal


( S ( NP-SBJ ( NP ( NNS Lawyers ) ) ( ADJP ( RB close ) ( PP ( TO to ) ( NP ( DT the ) ( NN case ) ) ) ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( PRP they ) ) ( VP ( VBD believed ) ( SBAR ( S ( NP-SBJ ( DT the ) ( NN ruling ) ) ( VP ( VBD was ) ( ADJP-PRD ( JJ unprecedented ) ) ) ) ) ) ) ) ) )

Lawyers close to the case said they believed the ruling was unprecedented


( SINV ( S-TPC-1 ( PP-TMP ( IN Up ) ( PP ( IN until ) ( NP ( RB now ) ) ) ) ( NP-SBJ ( DT the ) ( NNS courts ) ) ( VP ( VBP have ) ( VP ( VBN said ) ( SBAR ( S ( NP-SBJ ( NP ( PRP it ) ) ) ( VP ( VBZ is ) ( RB not ) ( NP-PRD ( PRP$ their ) ( NN role ) ) ( S-2 ( VP ( TO to ) ( VP ( VB supervise ) ( NP ( NP ( DT the ) ( JJ foreign ) ( NN country ) ( POS 's ) ) ( NNS courts ) ) ) ) ) ) ) ) ) ) ) ( VP ( VBD said ) ) ( NP-SBJ ( NP ( NNP Jacques ) ( NNP Semmelman ) ) ( NP ( NP ( DT the ) ( JJ assistant ) ( NNP U.S. ) ( NN attorney ) ) ( PP-LOC ( IN on ) ( NP ( DT the ) ( NN case ) ) ) ) ) )

Up until now the courts have said it is not their role to supervise the foreign country 's courts said Jacques Semmelman the assistant U.S. attorney on the case


( S ( NP-SBJ ( NAC ( JJ FORMER ) ( JJ CANADIAN ) ( NN AMBASSADOR ) ( PP ( TO to ) ( NP ( DT the ) ( NNP U.S. ) ) ) ) ( NNP Allan ) ( NNP E. ) ( NNP Gotlieb ) ) ( VP ( VBZ has ) ( VP ( VBN joined ) ( NP ( NP ( DT the ) ( NNP Philadelphia ) ( NN law ) ( NN firm ) ) ( PP ( IN of ) ( NP ( NNP Pepper ) ( NNP Hamilton ) ( CC & ) ( NNP Scheetz ) ) ) ) ( PP ( IN as ) ( NP ( DT a ) ( NN consultant ) ) ) ) ) )

FORMER CANADIAN AMBASSADOR to the U.S. Allan E. Gotlieb has joined the Philadelphia law firm of Pepper Hamilton & Scheetz as a consultant


( S ( NP-SBJ ( NP ( NNP Mr. ) ( NNP Gotlieb ) ) ( SBAR ( WHNP-1 ( WP who ) ) ( S ( VP ( VBZ serves ) ( PP-CLR ( IN as ) ( NP ( NP ( DT a ) ( NN consultant ) ) ( PP ( TO to ) ( NP ( NP ( NNP Stikeman ) ( NNP Elliott ) ) ( NP ( NP ( CD one ) ) ( PP ( IN of ) ( NP ( NP ( NNP Canada ) ( POS 's ) ) ( JJS biggest ) ( NN law ) ( NNS firms ) ) ) ) ) ) ) ) ) ) ) ) ( VP ( VBZ is ) ( VP ( VBG advising ) ( NP ( NP ( NNP Pepper ) ( NNP Hamilton ) ( POS 's ) ) ( NNP Washington ) ( NN office ) ) ( PP ( IN on ) ( NP ( NP ( JJ legal ) ( NNS matters ) ) ( ADJP ( VBN related ) ( PP ( TO to ) ( NP ( NP ( JJ Canadian-U.S. ) ( NN investment ) ) ( NP ( JJ corporate ) ( NN finance ) ) ( CC and ) ( NP ( JJ international ) ( NNS transactions ) ) ) ) ) ) ) ) ) )

Mr. Gotlieb who serves as a consultant to Stikeman Elliott one of Canada 's biggest law firms is advising Pepper Hamilton 's Washington office on legal matters related to Canadian-U.S. investment corporate finance and international transactions


QUOTABLE


( S ( S ( PP-LOC ( IN In ) ( NP ( NP ( DT a ) ( NN speech ) ) ( VP ( VBN prepared ) ( PP-PRP ( IN for ) ( NP ( NP ( NN delivery ) ) ( PP-LOC ( IN in ) ( NP ( NNP New ) ( NNP York ) ) ) ( NP-TMP ( NN yesterday ) ) ) ) ) ) ) ( NP-SBJ ( JJ retired ) ( NNP Justice ) ( NNP Lewis ) ( NNP Powell ) ) ( VP ( VBD contested ) ( NP ( DT the ) ( NN notion ) ( SBAR ( IN that ) ( S ( NP-SBJ ( DT the ) ( JJ last ) ( NNP Supreme ) ( NNP Court ) ( NN term ) ) ( VP ( VBD marked ) ( NP ( NP ( DT a ) ( NN turn ) ) ( PP ( IN toward ) ( NP ( NN conservatism ) ) ) ) ) ) ) ) ) ) ( S ( NP-SBJ ( NP ( NNS Commentators ) ) ( SBAR ( WHNP-1 ( WP who ) ) ( S ( VP ( VBD agreed ) ( PP-CLR ( IN on ) ( NP ( NP ( JJ little ) ) ( ADJP ( RB else ) ) ) ) ) ) ) ) ( VP ( ADVP-MNR ( RB unanimously ) ) ( VBD proclaimed ) ( NP ( NP ( DT a ) ( NN shift ) ) ( PP-LOC ( IN in ) ( NP ( NN direction ) ) ) ( PP-LOC ( IN on ) ( NP ( DT the ) ( NN court ) ) ) ) ) ) )

In a speech prepared for delivery in New York yesterday retired Justice Lewis Powell contested the notion that the last Supreme Court term marked a turn toward conservatism Commentators who agreed on little else unanimously proclaimed a shift in direction on the court


( S ( NP-SBJ ( PRP I ) ) ( VP ( VBP take ) ( NP ( DT these ) ( NNS pronouncements ) ) ( PP ( IN like ) ( NP ( NP ( JJ many ) ) ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( VP ( VBP have ) ( VP ( VBN preceded ) ( NP ( PRP them ) ) ( PP-TMP ( IN in ) ( NP ( JJ past ) ( NNS years ) ) ) ) ) ) ) ) ) ( PP ( IN with ) ( NP ( NP ( DT a ) ( NN grain ) ) ( PP ( IN of ) ( NP ( NN salt ) ) ) ) ) ) )

I take these pronouncements like many that have preceded them in past years with a grain of salt


( S ( PP-TMP ( IN In ) ( NP ( NP ( DT an ) ( NN era ) ) ( PP ( IN of ) ( NP ( NP ( NN sound ) ( NNS bites ) ) ( POS ' ) ( CC and ) ( NP ( JJ instant ) ( NN opinion ) ( VBZ polls ) ) ) ) ) ) ( NP-SBJ ( NP ( PRP it ) ) ) ( VP ( VBZ is ) ( ADJP-PRD ( JJ dangerous ) ) ( S-3 ( VP ( TO to ) ( VP ( VB apply ) ( NP ( JJ broad ) ( NNS labels ) ) ( PP-CLR ( TO to ) ( NP ( DT a ) ( JJ single ) ( NN term ) ) ) ) ) ) ) )

In an era of sound bites ' and instant opinion polls it is dangerous to apply broad labels to a single term


( S ( NP-SBJ-1 ( DT The ) ( JJ following ) ) ( VP ( VBD were ) ( PP-LOC-PRD ( IN among ) ( NP ( NP ( NP ( NN yesterday ) ( POS 's ) ) ( NNS offerings ) ( CC and ) ( NNS pricings ) ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( NNP U.S. ) ( CC and ) ( JJ non-U.S. ) ( NN capital ) ( NNS markets ) ) ) ) ) ( PP ( IN with ) ( NP ( NP ( NNS terms ) ) ( CC and ) ( NP ( NN syndicate ) ( NN manager ) ) ) ) ( SBAR-ADV ( IN as ) ( S ( VP ( VBN compiled ) ( PP ( IN by ) ( NP-LGS ( NNP Dow ) ( NNP Jones ) ( NNP Capital ) ( NNP Markets ) ( NNP Report ) ) ) ) ) ) ) )

The following were among yesterday 's offerings and pricings in the U.S. and non-U.S. capital markets with terms and syndicate manager as compiled by Dow Jones Capital Markets Report


( NP ( NP ( NNP Lockheed ) ( NNP Corp. ) ) ( NP ( NP ( QP ( CD 300 ) ( CD million ) ) ) ( PP ( IN of ) ( NP ( NP ( ADJP ( QP ( CD 9 ) ( CD 3\/8 ) ) ( NN % ) ) ( NNS notes ) ) ( ADJP ( JJ due ) ( NP-TMP ( NNP Oct. ) ( CD 15 ) ( CD 1999 ) ) ) ( VP ( VBN priced ) ( PP-CLR ( IN at ) ( NP ( CD 99.90 ) ) ) ( S-CLR ( VP ( TO to ) ( VP ( VB yield ) ( NP ( CD 9.39 ) ( NN % ) ) ) ) ) ) ) ) ) )

Lockheed Corp. 300 million of 9 3\/8 % notes due Oct. 15 1999 priced at 99.90 to yield 9.39 %


( S ( NP-SBJ-2 ( DT The ) ( NN issue ) ) ( VP ( VBD was ) ( VP ( VBN priced ) ( PP-CLR ( IN at ) ( PP ( NP ( NP ( DT a ) ( NN spread ) ) ( PP ( IN of ) ( NP ( NP ( CD 137.5 ) ( NN basis ) ( NNS points ) ) ) ) ) ( IN above ) ( NP ( NP ( DT the ) ( NNP Treasury ) ( POS 's ) ) ( JJ 10-year ) ( NN note ) ) ) ) ) ) )

The issue was priced at a spread of 137.5 basis points above the Treasury 's 10-year note


( S ( S-ADV ( VP ( VP ( VBN Rated ) ( S ( ADJP-PRD-2 ( JJ single-A-3 ) ) ) ( PP-3 ( IN by ) ( NP-LGS ( NP ( NNP Moody ) ( POS 's ) ) ( NNP Investors ) ( NNP Service ) ( NNP Inc. ) ) ) ) ( CC and ) ( VP ( ADJP-PRD=2 ( JJ single-A ) ) ( PP=3 ( IN by ) ( NP-LGS ( NP ( NNP Standard ) ( CC & ) ( NNP Poor ) ( POS 's ) ) ( NNP Corp. ) ) ) ) ) ) ( NP-SBJ-4 ( DT the ) ( NN issue ) ) ( VP ( MD will ) ( VP ( VB be ) ( VP ( VBN sold ) ( PP ( IN through ) ( NP ( NP ( NNS underwriters ) ) ( VP ( VBN led ) ( PP ( IN by ) ( NP-LGS ( NNP Goldman ) ( NNP Sachs ) ( CC & ) ( NNP Co ) ) ) ) ) ) ) ) ) )

Rated single-A-3 by Moody 's Investors Service Inc. and single-A by Standard & Poor 's Corp. the issue will be sold through underwriters led by Goldman Sachs & Co


( NP ( NP ( NNP California ) ( NNP Health ) ( NNP Facilities ) ( NNP Financing ) ( NNP Authority ) ) ( NP ( NP ( QP ( CD 144.35 ) ( CD million ) ) ) ( PP ( IN of ) ( NP ( NP ( NN revenue ) ( NNS bonds ) ) ( PP ( IN for ) ( NP ( NNP Kaiser ) ( NNP Permanente ) ) ) ( ADJP ( JJ due ) ( NP-TMP ( CD 19931999 ) ( CD 2004 ) ( CD 2008 ) ( CD 2018 ) ( CC and ) ( CD 2019 ) ) ) ( VP ( ADVP-MNR ( RB tentatively ) ) ( VBN priced ) ( PP ( IN by ) ( NP ( DT a ) ( NNP PaineWebber ) ( NNP Inc. ) ( NN group ) ) ) ( S-CLR ( VP ( TO to ) ( VP ( VB yield ) ( PP ( PP ( IN from ) ( NP ( NP ( CD 6.25 ) ( NN % ) ) ( PP-TMP ( IN in ) ( NP ( CD 1993 ) ) ) ) ) ( PP ( TO to ) ( NP ( NP ( CD 7.227 ) ( NN % ) ) ( PP-TMP ( IN in ) ( NP ( CD 2018 ) ) ) ) ) ) ) ) ) ) ) ) ) )

California Health Facilities Financing Authority 144.35 million of revenue bonds for Kaiser Permanente due 19931999 2004 2008 2018 and 2019 tentatively priced by a PaineWebber Inc. group to yield from 6.25 % in 1993 to 7.227 % in 2018


( S ( NP-SBJ-1 ( JJ Serial ) ( NNS bonds ) ) ( VP ( VBD were ) ( VP ( VBN priced ) ( S-CLR ( VP ( TO to ) ( VP ( VB yield ) ( NP ( QP ( TO to ) ( CD 6.80 ) ) ( NN % ) ) ( PP-TMP ( IN in ) ( NP ( CD 1999 ) ) ) ) ) ) ) ) )

Serial bonds were priced to yield to 6.80 % in 1999


( S ( NP-SBJ ( EX There ) ) ( VP ( VBP are ) ( NP-PRD ( NP ( NP ( QP ( RB about ) ( CD 10 ) ( CD million ) ) ) ( PP ( IN of ) ( NP ( NP ( ADJP ( CD 7 ) ( NN % ) ) ( NNS bonds ) ) ( VP ( VBN priced ) ( PP-CLR ( IN at ) ( NP ( QP ( CD 99 ) ( CD 1\/4 ) ) ) ) ( S-CLR ( VP ( TO to ) ( VP ( VB yield ) ( NP ( CD 7.081 ) ( NN % ) ) ( PP-TMP ( IN in ) ( NP ( CD 2004 ) ) ) ) ) ) ) ) ) ) ( NP ( NP ( QP ( RB about ) ( CD 15 ) ( CD million ) ) ) ( PP ( IN of ) ( NP ( NP ( ADJP ( CD 7 ) ( NN % ) ) ( NNS bonds ) ) ( VP ( VBN priced ) ( PP-CLR ( IN at ) ( NP ( QP ( CD 98 ) ( CD 1\/2 ) ) ) ) ( S-CLR ( VP ( TO to ) ( VP ( VB yield ) ( NP ( CD 7.145 ) ( NN % ) ) ( PP-TMP ( IN in ) ( NP ( CD 2008 ) ) ) ) ) ) ) ) ) ) ( NP ( NP ( QP ( RB about ) ( CD 88.35 ) ( CD million ) ) ) ( PP ( IN of ) ( NP ( NP ( ADJP ( CD 7 ) ( NN % ) ) ( NNS bonds ) ) ( VP ( VBN priced ) ( PP-CLR ( IN at ) ( NP ( QP ( CD 97 ) ( CD 1\/4 ) ) ) ) ( S-CLR ( VP ( TO to ) ( VP ( VB yield ) ( NP ( CD 7.227 ) ( NN % ) ) ( PP-TMP ( IN in ) ( NP ( CD 2018 ) ) ) ) ) ) ) ) ) ) ( CC and ) ( NP ( NP ( QP ( RB about ) ( CD 15 ) ( CD million ) ) ) ( PP ( IN of ) ( NP ( NP ( ADJP ( QP ( CD 6 ) ( CD 3\/4 ) ) ( NN % ) ) ( NNS bonds ) ) ( VP ( VBN priced ) ( S-CLR ( VP ( TO to ) ( VP ( VB yield ) ( NP ( CD 7.15 ) ( NN % ) ) ( PP-TMP ( IN in ) ( NP ( CD 2019 ) ) ) ) ) ) ) ) ) ) ) ) )

There are about 10 million of 7 % bonds priced at 99 1\/4 to yield 7.081 % in 2004 about 15 million of 7 % bonds priced at 98 1\/2 to yield 7.145 % in 2008 about 88.35 million of 7 % bonds priced at 97 1\/4 to yield 7.227 % in 2018 and about 15 million of 6 3\/4 % bonds priced to yield 7.15 % in 2019


( S ( NP-SBJ-3 ( DT The ) ( NNS bonds ) ) ( VP ( VBP are ) ( VP ( VP ( VBN rated ) ( S ( ADJP-PRD-1 ( JJ double-A-2 ) ) ) ( PP-2 ( IN by ) ( NP-LGS ( NNP Moody ) ( POS 's ) ) ) ) ( CC and ) ( VP ( ADJP-PRD=1 ( JJ double-A ) ) ( PP=2 ( IN by ) ( NP-LGS ( NNP S&P ) ) ) ) ( PP ( VBG according ) ( PP ( TO to ) ( NP ( DT the ) ( JJ lead ) ( NN underwriter ) ) ) ) ) ) )

The bonds are rated double-A-2 by Moody 's and double-A by S&P according to the lead underwriter


( NP ( NP ( NNP Pennsylvania ) ( NNP Higher ) ( NNP Education ) ( NNP Facilities ) ( NNP Authority ) ) ( NP ( NP ( QP ( RB approximately ) ( CD 117 ) ( CD million ) ) ) ( PP ( IN of ) ( NP ( NP ( NN revenue ) ( NNS bonds ) ) ( PP ( IN for ) ( NP ( NNP Hahnemann ) ( NNP University ) ) ) ( NP ( NNP Series ) ( CD 1989 ) ) ( ADJP ( JJ due ) ( NP-TMP ( CD 1990-2002 ) ( CD 2009 ) ( CC and ) ( CD 2019 ) ) ) ( VP ( VBN priced ) ( NP-TMP ( RB late ) ( NNP Monday ) ) ( PP ( IN by ) ( NP-LGS ( DT a ) ( NNP Merrill ) ( NNP Lynch ) ( NNP Capital ) ( NNP Markets ) ( NN group ) ) ) ( S-CLR ( VP ( TO to ) ( VP ( VB yield ) ( PP ( PP ( IN from ) ( NP ( NP ( CD 6 ) ( NN % ) ) ( PP-TMP ( IN in ) ( NP ( CD 1990 ) ) ) ) ) ( PP ( TO to ) ( NP ( NP ( CD 7.282 ) ( NN % ) ) ( PP-TMP ( IN in ) ( NP ( CD 2019 ) ) ) ) ) ) ) ) ) ) ) ) ) )

Pennsylvania Higher Education Facilities Authority approximately 117 million of revenue bonds for Hahnemann University Series 1989 due 1990-2002 2009 and 2019 priced late Monday by a Merrill Lynch Capital Markets group to yield from 6 % in 1990 to 7.282 % in 2019


( S ( NP-SBJ-1 ( JJ Serial ) ( NNS bonds ) ) ( VP ( VBD were ) ( VP ( VBN priced ) ( S-CLR ( VP ( TO to ) ( VP ( VB yield ) ( PP ( PP ( IN from ) ( NP ( NP ( CD 6 ) ( NN % ) ) ( PP-TMP ( IN in ) ( NP ( CD 1990 ) ) ) ) ) ( PP ( TO to ) ( NP ( NP ( CD 7.10 ) ( NN % ) ) ( PP-TMP ( IN in ) ( NP ( CD 2002 ) ) ) ) ) ) ) ) ) ) ) )

Serial bonds were priced to yield from 6 % in 1990 to 7.10 % in 2002


( S ( NP-SBJ ( EX There ) ) ( VP ( VBP are ) ( NP-PRD ( NP ( NP ( QP ( RB about ) ( CD 25.6 ) ( CD million ) ) ) ( PP ( IN of ) ( NP ( NP ( ADJP ( CD 7.2 ) ( NN % ) ) ( NN term ) ( NNS bonds ) ) ( ADJP ( JJ due ) ( NP-TMP ( CD 2009 ) ) ) ( VP ( VBN priced ) ( S-CLR ( VP ( TO to ) ( VP ( VB yield ) ( NP ( CD 7.25 ) ( NN % ) ) ) ) ) ) ) ) ) ( CC and ) ( NP ( NP ( QP ( RB about ) ( CD 66.8 ) ( CD million ) ) ) ( PP ( IN of ) ( NP ( NP ( ADJP ( CD 7.2 ) ( NN % ) ) ( NN term ) ( NNS bonds ) ) ( ADJP ( JJ due ) ( NP-TMP ( CD 2019 ) ) ) ( VP ( VBN priced ) ( PP-CLR ( IN at ) ( NP ( CD 99 ) ) ) ( S-CLR ( VP ( TO to ) ( VP ( VB yield ) ( NP ( CD 7.282 ) ( NN % ) ) ) ) ) ) ) ) ) ) ) )

There are about 25.6 million of 7.2 % term bonds due 2009 priced to yield 7.25 % and about 66.8 million of 7.2 % term bonds due 2019 priced at 99 to yield 7.282 %


( S ( NP-SBJ-1 ( DT The ) ( NNS bonds ) ) ( VP ( VBP are ) ( VP ( VP ( VP ( VBN insured ) ) ( CC and ) ( VP ( VBN rated ) ( S ( ADJP-PRD ( JJ triple-A ) ) ) ) ) ( PP-2 ( IN by ) ( NP-LGS ( NP ( NNP Moody ) ( POS 's ) ) ( CC and ) ( NP ( NNP S&P ) ) ) ) ) ) )

The bonds are insured and rated triple-A by Moody 's and S&P


( NP ( NP ( NNP Connecticut ) ) ( NP ( NP ( QP ( CD 100.4 ) ( CD million ) ) ) ( PP ( IN of ) ( NP ( NP ( JJ general ) ( NN obligation ) ( NN capital ) ( NN appreciation ) ( NNS bonds ) ) ( NP ( NNP College ) ( NNP Savings ) ( NNP Plan ) ) ( NP ( CD 1989 ) ( NNP Series ) ( NNP B ) ) ( VP ( VBN priced ) ( PP ( IN by ) ( NP-LGS ( DT a ) ( NNP Prudential-Bache ) ( NNP Capital ) ( NNP Funding ) ( NN group ) ) ) ) ) ) ) )

Connecticut 100.4 million of general obligation capital appreciation bonds College Savings Plan 1989 Series B priced by a Prudential-Bache Capital Funding group


( S ( NP-SBJ-1 ( DT The ) ( JJ zero-coupon ) ( NNS bonds ) ) ( VP ( VBD were ) ( VP ( VBN priced ) ( S-CLR ( VP ( TO to ) ( VP ( VB yield ) ( PP-CLR ( TO to ) ( NP ( NN maturity ) ) ) ( PP ( PP ( IN from ) ( NP ( NP ( CD 6.25 ) ( NN % ) ) ( PP-TMP ( IN in ) ( NP ( CD 1994 ) ) ) ) ) ( PP ( TO to ) ( NP ( NP ( CD 6.90 ) ( NN % ) ) ( PP-TMP ( IN in ) ( NP ( CD 2006 ) ( CD 2007 ) ( CC and ) ( CD 2009 ) ) ) ) ) ) ) ) ) ) ) )

The zero-coupon bonds were priced to yield to maturity from 6.25 % in 1994 to 6.90 % in 2006 2007 and 2009


( S ( S-TPC-1 ( S ( NP-SBJ ( DT The ) ( NNS bonds ) ) ( VP ( VBP have ) ( VP ( VBN received ) ( NP ( NP ( DT a ) ( NN rating ) ) ( PP ( IN of ) ( ADJP ( JJ double-A-1 ) ) ) ) ( PP-DIR ( IN from ) ( NP ( NNP Moody ) ( POS 's ) ) ) ) ) ) ( CC and ) ( S ( NP-SBJ-2 ( DT a ) ( JJ double-A-plus ) ( NN rating ) ) ( VP ( VBZ is ) ( VP ( VBN expected ) ( PP-CLR ( IN from ) ( NP ( NNP S&P ) ) ) ) ) ) ) ( NP-SBJ ( DT the ) ( NN underwriter ) ) ( VP ( VBD said ) ) )

The bonds have received a rating of double-A-1 from Moody 's and a double-A-plus rating is expected from S&P the underwriter said


( NP ( NP ( NNP Oregon ) ) ( NP ( NP ( QP ( CD 100 ) ( CD million ) ) ) ( PP ( IN of ) ( NP ( NP ( NP ( JJ general ) ( NN obligation ) ( NNS veterans ) ( POS ' ) ) ( NN tax ) ( NNS notes ) ) ( NP ( NNP Series ) ( CD 1989 ) ) ( UCP ( VP ( VBN dated ) ( S ( NP-PRD ( NNP Nov. ) ( CD 1 ) ( CD 1989 ) ) ) ) ( CC and ) ( ADJP ( JJ due ) ( NP-TMP ( NNP Nov. ) ( CD 1 ) ( CD 1990 ) ) ) ) ( PP ( IN through ) ( NP ( DT a ) ( NNP Chemical ) ( NNP Securities ) ( NNP Inc. ) ( NN group ) ) ) ) ) ) )

Oregon 100 million of general obligation veterans ' tax notes Series 1989 dated Nov. 1 1989 and due Nov. 1 1990 through a Chemical Securities Inc. group


( S ( NP-SBJ ( DT The ) ( NN group ) ) ( VP ( VBZ is ) ( VP ( VBG offering ) ( NP ( NP ( DT the ) ( NNS notes ) ) ( VP ( VBN priced ) ( PP-CLR ( IN as ) ( NP ( ADJP ( QP ( CD 6 ) ( CD 3\/4 ) ) ( NN % ) ) ( NNS securities ) ) ) ( S-CLR ( VP ( TO to ) ( VP ( VB yield ) ( NP ( CD 6.25 ) ( NN % ) ) ) ) ) ) ) ) ) )

The group is offering the notes priced as 6 3\/4 % securities to yield 6.25 %


( S ( NP-SBJ-2 ( DT The ) ( NNS notes ) ) ( VP ( VBP are ) ( VP ( VP ( VBN rated ) ( S ( ADJP-PRD-1 ( JJ MIG-1 ) ) ) ( PP ( IN by ) ( NP-LGS-3 ( NN Moody ) ( POS 's ) ) ) ) ( CC and ) ( VP ( ADJP-PRD=1 ( JJ SP1-plus ) ) ( PP ( IN by ) ( NP-LGS=3 ( NNP S&P ) ) ) ) ) ) )

The notes are rated MIG-1 by Moody 's and SP1-plus by S&P


( NP ( NP ( NP ( NNP University ) ) ( PP ( IN of ) ( NP ( NNP Medicine ) ( CC and ) ( NNP Dentistry ) ) ) ( PP ( IN of ) ( NP ( NNP New ) ( NNP Jersey ) ) ) ) ( NP ( NP ( QP ( CD 55.8 ) ( CD million ) ) ) ( PP ( IN of ) ( NP ( NP ( NNP Series ) ( NNP C ) ( NNS bonds ) ) ( VP ( VBN priced ) ( PP ( IN by ) ( NP-LGS ( DT a ) ( NNP Prudential-Bache ) ( NNP Capital ) ( NNP Funding ) ( NN group ) ) ) ) ) ) ) )

University of Medicine and Dentistry of New Jersey 55.8 million of Series C bonds priced by a Prudential-Bache Capital Funding group


( S ( NP-SBJ-3 ( NP ( DT The ) ( NNS bonds ) ) ( VP ( VP ( VBN rated ) ( S ( ADJP-PRD-1 ( JJ single-A ) ) ) ( PP-2 ( IN by ) ( NP-LGS ( NNP Moody ) ( POS 's ) ) ) ) ( CC and ) ( VP ( ADJP-PRD=1 ( JJ double-A ) ) ( PP=2 ( IN by ) ( NP-LGS ( NNP S&P ) ) ) ) ) ) ( VP ( VBD were ) ( VP ( VBN priced ) ( S-CLR ( VP ( TO to ) ( VP ( VB yield ) ( PP ( PP ( IN from ) ( NP ( NP ( CD 6.20 ) ( NN % ) ) ( PP-TMP ( IN in ) ( NP ( CD 1992 ) ) ) ) ) ( PP ( TO to ) ( NP ( NP ( CD 7.26 ) ( NN % ) ) ( PP-TMP ( IN in ) ( NP ( CD 2019 ) ) ) ) ) ) ) ) ) ) ) )

The bonds rated single-A by Moody 's and double-A by S&P were priced to yield from 6.20 % in 1992 to 7.26 % in 2019


( S ( NP-SBJ-2 ( NP ( DT All ) ( JJ serial ) ( NNS bonds ) ) ) ( VP ( VBP are ) ( VP ( VBG being ) ( VP ( VBN offered ) ( PP ( IN at ) ( NP ( NN par ) ) ) ( PP-1 ( IN except ) ( NP ( NP ( DT those ) ) ( ADJP ( JJ due ) ( NP-TMP ( CD 2002 ) ) ) ) ) ) ) ) )

All serial bonds are being offered at par except those due 2002


( NP ( NP ( NNP Federal ) ( NNP Home ) ( NNP Loan ) ( NNP Mortgage ) ( NNP Corp. ) ) ( NP ( NP ( QP ( CD 500 ) ( CD million ) ) ) ( PP ( IN of ) ( NP ( NP ( NNP Remic ) ( NN mortgage ) ( NNS securities ) ) ( VP ( VBG being ) ( VP ( VBN offered ) ( PP-LOC ( IN in ) ( NP ( CD eight ) ( NNS classes ) ) ) ( PP ( IN by ) ( NP-LGS ( NNP Salomon ) ( NNP Brothers ) ( NNP Inc ) ) ) ) ) ) ) ) )

Federal Home Loan Mortgage Corp. 500 million of Remic mortgage securities being offered in eight classes by Salomon Brothers Inc


( S ( NP-SBJ-1 ( NP ( DT The ) ( NN offering ) ) ( NP ( NNP Series ) ( CD 104 ) ) ) ( VP ( VBZ is ) ( VP ( VBN backed ) ( PP ( IN by ) ( NP-LGS ( NNP Freddie ) ( NNP Mac ) ( ADJP ( CD 9 ) ( NN % ) ) ( NNS securities ) ) ) ) ) )

The offering Series 104 is backed by Freddie Mac 9 % securities


( S ( NP-SBJ ( DT The ) ( NN issue ) ) ( VP ( VBD used ) ( NP ( JJ at-market ) ( NN pricing ) ) ) )

The issue used at-market pricing


( NP ( NP ( NNP Federal ) ( NNP National ) ( NNP Mortgage ) ( NNP Association ) ) ( NP ( NP ( QP ( CD 350 ) ( CD million ) ) ) ( PP ( IN of ) ( NP ( NP ( NNP Remic ) ( NN mortgage ) ( NNS securities ) ) ( VP ( VBG being ) ( VP ( VBN offered ) ( PP-LOC ( IN in ) ( NP ( CD 11 ) ( NNS classes ) ) ) ( PP ( IN by ) ( NP-LGS ( NNP Greenwich ) ( NNP Capital ) ( NNP Markets ) ) ) ) ) ) ) ) )

Federal National Mortgage Association 350 million of Remic mortgage securities being offered in 11 classes by Greenwich Capital Markets


( S ( NP-SBJ-1 ( NP ( DT The ) ( NN offering ) ) ( NP ( NNP Series ) ( CD 1989-82 ) ) ) ( VP ( VBZ is ) ( VP ( VP ( VBN backed ) ( PP ( IN by ) ( NP-LGS ( NNP Fannie ) ( NNP Mae ) ( ADJP ( QP ( CD 9 ) ( CD 1\/2 ) ) ( NN % ) ) ( NNS securities ) ) ) ) ( CC and ) ( VP ( VBD used ) ( NP ( JJ at-market ) ( NN pricing ) ) ) ) ) )

The offering Series 1989-82 is backed by Fannie Mae 9 1\/2 % securities and used at-market pricing


( S ( NP-SBJ ( DT The ) ( NN issue ) ) ( VP ( VP ( VBZ brings ) ( NP-1 ( NP ( NNP Fannie ) ( NNP Mae ) ( POS 's ) ) ( CD 1989 ) ( NNP Remic ) ( NN issuance ) ) ( PP-DIR-2 ( TO to ) ( NP ( QP ( CD 30.2 ) ( CD billion ) ) ) ) ) ( CC and ) ( VP ( NP=1 ( NP ( PRP$ its ) ( JJ total ) ( NN volume ) ) ) ( PP-DIR=2 ( TO to ) ( NP ( QP ( CD 42.3 ) ( CD billion ) ) ) ) ( SBAR-TMP-3 ( IN since ) ( S ( NP-SBJ ( DT the ) ( NN program ) ) ( VP ( VBD began ) ( PP-TMP ( IN in ) ( NP ( NNP April ) ( CD 1987 ) ) ) ) ) ) ) ) )

The issue brings Fannie Mae 's 1989 Remic issuance to 30.2 billion and its total volume to 42.3 billion since the program began in April 1987


( NP ( NP ( NP ( NNP Hanshin ) ( NNP Electric ) ( NNP Railway ) ( NNP Co ) ) ( PRN ( NP-LOC ( NNP Japan ) ) ) ) ( NP ( NP ( QP ( CD 150 ) ( CD million ) ) ) ( PP ( IN of ) ( NP ( NP ( NNS bonds ) ) ( ADJP ( JJ due ) ( NP-TMP ( NNP Nov. ) ( CD 2 ) ( CD 1993 ) ) ) ( PP ( IN with ) ( NP ( NP ( JJ equity-purchase ) ( NNS warrants ) ) ( VP ( VBG indicating ) ( NP ( NP ( DT a ) ( ADJP ( CD 4 ) ( NN % ) ) ( NN coupon ) ) ( PP ( IN at ) ( NP ( NN par ) ) ) ) ) ) ) ( PP ( IN via ) ( NP ( NNP Nomura ) ( NNP International ) ( NNP Ltd ) ) ) ) ) ) )

Hanshin Electric Railway Co Japan 150 million of bonds due Nov. 2 1993 with equity-purchase warrants indicating a 4 % coupon at par via Nomura International Ltd


( S ( NP-SBJ ( DT Each ) ( ADJP ( CD 5,000 ) ) ( NN bond ) ) ( VP ( VBZ carries ) ( NP ( NP ( CD one ) ( NN warrant ) ) ( ADJP ( JJ exercisable ) ( PP-TMP ( PP ( IN from ) ( NP ( NNP Nov. ) ( CD 16 ) ( CD 1989 ) ) ) ( PP ( IN through ) ( NP ( NNP Oct. ) ( CD 19 ) ( CD 1993 ) ) ) ) ( S ( VP ( TO to ) ( VP ( VB buy ) ( NP ( NN company ) ( NNS shares ) ) ( PP ( IN at ) ( NP ( NP ( DT an ) ( JJ expected ) ( NN premium ) ) ( PP ( IN of ) ( NP ( QP ( CD 2 ) ( CD 1\/2 ) ) ( NN % ) ) ) ( PP ( TO to ) ( NP ( DT the ) ( NN closing ) ( NN share ) ( NN price ) ) ) ) ) ) ) ) ( SBAR ( WHADVP-2 ( WRB when ) ) ( S ( NP-SBJ-1 ( NNS terms ) ) ( VP ( VBP are ) ( VP ( VBN fixed ) ( NP-TMP ( NNP Oct. ) ( CD 24 ) ) ) ) ) ) ) ) ) )

Each 5,000 bond carries one warrant exercisable from Nov. 16 1989 through Oct. 19 1993 to buy company shares at an expected premium of 2 1\/2 % to the closing share price when terms are fixed Oct. 24


( NP ( NP ( NP ( NNP Toyobo ) ( NNP Co ) ) ( PRN ( NP-LOC ( NNP Japan ) ) ) ) ( NP ( NP ( QP ( CD 150 ) ( CD million ) ) ) ( PP ( IN of ) ( NP ( NP ( NNS bonds ) ) ( ADJP ( JJ due ) ( NP-TMP ( NNP Nov. ) ( CD 1 ) ( CD 1993 ) ) ) ( PP ( IN with ) ( NP ( JJ equity-purchase ) ( NNS warrants ) ) ) ( VP ( VBG indicating ) ( NP ( NP ( DT a ) ( ADJP ( CD 4 ) ( NN % ) ) ( NN coupon ) ) ( PP ( IN at ) ( NP ( NN par ) ) ) ) ) ( PP ( IN via ) ( NP ( NNP Daiwa ) ( NNP Europe ) ( NNP Ltd ) ) ) ) ) ) )

Toyobo Co Japan 150 million of bonds due Nov. 1 1993 with equity-purchase warrants indicating a 4 % coupon at par via Daiwa Europe Ltd


( S ( NP-SBJ ( DT Each ) ( ADJP ( CD 5000 ) ) ( NN bond ) ) ( VP ( VBZ carries ) ( NP ( NP ( CD one ) ( NN warrant ) ) ( ADJP ( JJ exercisable ) ( PP-TMP ( PP ( IN from ) ( NP ( NNP Nov. ) ( CD 15 ) ( CD 1989 ) ) ) ( PP ( TO to ) ( NP ( NNP Oct. ) ( CD 18 ) ( CD 1993 ) ) ) ) ( S ( VP ( TO to ) ( VP ( VB buy ) ( NP ( NN company ) ( NNS shares ) ) ( PP ( IN at ) ( NP ( NP ( DT an ) ( JJ expected ) ( NN premium ) ) ( PP ( IN of ) ( NP ( QP ( CD 2 ) ( CD 1\/2 ) ) ( NN % ) ) ) ( PP ( TO to ) ( NP ( DT the ) ( NN closing ) ( NN share ) ( NN price ) ) ) ) ) ) ) ) ( SBAR ( WHADVP-2 ( WRB when ) ) ( S ( NP-SBJ-1 ( NNS terms ) ) ( VP ( VBP are ) ( VP ( VBN fixed ) ( NP-TMP ( NNP Oct. ) ( CD 23 ) ) ) ) ) ) ) ) ) )

Each 5000 bond carries one warrant exercisable from Nov. 15 1989 to Oct. 18 1993 to buy company shares at an expected premium of 2 1\/2 % to the closing share price when terms are fixed Oct. 23


( NP ( NP ( NP ( NNP Sammi ) ( NNP Steel ) ( NNP Co ) ) ( PRN ( NP-LOC ( NNP Korea ) ) ) ) ( NP ( NP ( QP ( CD 50 ) ( CD million ) ) ) ( PP ( IN of ) ( NP ( NP ( NNS bonds ) ) ( ADJP ( JJ due ) ( NP-TMP ( NNP Nov. ) ( CD 8 ) ( CD 1994 ) ) ) ( PP ( IN with ) ( NP ( JJ equity-purchase ) ( NNS warrants ) ) ) ( VP ( VBG indicating ) ( NP ( NP ( DT a ) ( ADJP ( QP ( CD 1 ) ( CD 1\/4 ) ( NN % ) ( TO to ) ( CD 1 ) ( CD 3\/4 ) ( NN % ) ) ) ( NN coupon ) ) ( PP ( IN at ) ( NP ( NN par ) ) ) ) ) ( PP ( IN via ) ( NP ( NP ( NNP Merrill ) ( NNP Lynch ) ( NNP International ) ( NNP Ltd. ) ) ( CC and ) ( NP ( NNP Dong ) ( NNP Suh ) ( NNP Securities ) ( NNP Co ) ) ) ) ) ) ) )

Sammi Steel Co Korea 50 million of bonds due Nov. 8 1994 with equity-purchase warrants indicating a 1 1\/4 % to 1 3\/4 % coupon at par via Merrill Lynch International Ltd. and Dong Suh Securities Co


( S ( NP-SBJ ( DT Each ) ( ADJP ( CD 5,000 ) ) ( NN bond ) ) ( VP ( VBZ carries ) ( NP ( NP ( CD one ) ( NN warrant ) ) ( ADJP ( JJ exercisable ) ( PP-TMP ( PP ( IN from ) ( NP ( NNP May ) ( CD 8 ) ( CD 1991 ) ) ) ( PP ( IN through ) ( NP ( NNP Oct. ) ( CD 8 ) ( CD 1994 ) ) ) ) ( S ( VP ( TO to ) ( VP ( VB buy ) ( NP ( NN company ) ( NNS shares ) ) ( PP ( IN at ) ( NP ( NP ( DT an ) ( JJ expected ) ( NN premium ) ) ( PP ( IN of ) ( NP ( QP ( CD 75 ) ( NN % ) ( TO to ) ( CD 85 ) ( NN % ) ) ) ) ( PP ( TO to ) ( NP ( DT the ) ( NN closing ) ( NN share ) ( NN price ) ) ) ) ) ) ) ) ( SBAR ( WHADVP-2 ( WRB when ) ) ( S ( NP-SBJ-1 ( NNS terms ) ) ( VP ( VBP are ) ( VP ( VBN fixed ) ( NP-TMP ( NNP Oct. ) ( CD 18 ) ) ) ) ) ) ) ) ) )

Each 5,000 bond carries one warrant exercisable from May 8 1991 through Oct. 8 1994 to buy company shares at an expected premium of 75 % to 85 % to the closing share price when terms are fixed Oct. 18


( NP ( NP ( NP ( NNP Redland ) ( NNP International ) ( NNP Funding ) ( NNP PLC ) ) ( PRN ( NP-LOC ( NNP U.K. ) ( NN parent ) ) ) ) ( NP ( NP ( QP ( CD 150 ) ( CD million ) ) ( JJ Australian ) ( NNS dollars ) ) ( PP ( IN of ) ( NP ( NP ( ADJP ( QP ( CD 15 ) ( CD 3\/8 ) ) ( NN % ) ) ( NNS bonds ) ) ( ADJP ( JJ due ) ( NP-TMP ( NNP Nov. ) ( CD 8 ) ( CD 1996 ) ) ) ( VP ( VBN priced ) ( PP ( IN at ) ( NP ( QP ( CD 101 ) ( CD 3\/4 ) ) ) ) ( S-CLR ( VP ( TO to ) ( VP ( VB yield ) ( NP ( NP ( CD 15.44 ) ( NN % ) ) ( PP ( CC less ) ( NP ( JJ full ) ( NNS fees ) ) ) ) ) ) ) ) ( PP ( IN via ) ( NP ( NNP JP ) ( NNP Morgan ) ( NNP Securities ) ( NNP Ltd ) ) ) ) ) ) )

Redland International Funding PLC U.K. parent 150 million Australian dollars of 15 3\/8 % bonds due Nov. 8 1996 priced at 101 3\/4 to yield 15.44 % less full fees via JP Morgan Securities Ltd


( S ( VP ( VBN Guaranteed ) ( PP ( IN by ) ( NP-LGS ( NNP Redland ) ( NNP PLC ) ) ) ) )

Guaranteed by Redland PLC


Fees 2


( NP ( NP ( NNP Tennessee ) ( NNP Valley ) ( NNP Authority ) ) ( NP ( NP ( DT A ) ( ADJP ( QP ( CD 4 ) ( CD billion ) ) ) ( JJ three-part ) ( NN offering ) ) ( PP ( IN of ) ( NP ( NP ( NN power ) ( NNS bonds ) ) ( VP ( VBN priced ) ( PP ( IN through ) ( NP ( NP ( DT an ) ( NN underwriting ) ( NN group ) ) ( VP ( VBN led ) ( PP ( IN by ) ( NP-LGS ( NNP First ) ( NNP Boston ) ( NNP Corp ) ) ) ) ) ) ) ) ) ) )

Tennessee Valley Authority A 4 billion three-part offering of power bonds priced through an underwriting group led by First Boston Corp


( S ( NP-SBJ-1 ( NP ( DT The ) ( NN size ) ) ( PP ( IN of ) ( NP ( DT the ) ( NN issue ) ) ) ) ( VP ( VBD was ) ( VP ( VBN increased ) ( PP-CLR ( IN from ) ( NP ( DT an ) ( ADJP ( RB originally ) ( VBN planned ) ) ( QP ( CD 3 ) ( CD billion ) ) ) ) ) ) )

The size of the issue was increased from an originally planned 3 billion


( S ( NP-SBJ-1 ( NP ( DT The ) ( JJ first ) ( NN part ) ) ( VP ( VBG consisting ) ( PP-CLR ( IN of ) ( NP ( NP ( QP ( CD 2 ) ( CD billion ) ) ) ( PP ( IN of ) ( NP ( NP ( NNS bonds ) ) ( ADJP ( JJ due ) ( NP-TMP ( NNP Oct. ) ( CD 1 ) ( CD 2019 ) ) ) ( PP ( IN with ) ( NP ( DT a ) ( JJ five-year ) ( JJ non-call ) ( NN provision ) ) ) ) ) ) ) ) ) ( VP ( VBD was ) ( VP ( VBN priced ) ( PP ( IN as ) ( NP ( ADJP ( QP ( CD 8 ) ( CD 3\/4 ) ) ( NN % ) ) ( NNS securities ) ) ) ( PP-CLR ( IN at ) ( NP ( CD 96.808 ) ) ) ( S-CLR ( VP ( TO to ) ( VP ( VB yield ) ( NP ( CD 9.06 ) ( NN % ) ) ) ) ) ) ) )

The first part consisting of 2 billion of bonds due Oct. 1 2019 with a five-year non-call provision was priced as 8 3\/4 % securities at 96.808 to yield 9.06 %


( S ( NP-SBJ-1 ( DT The ) ( JJ 30-year ) ( NN issue ) ) ( VP ( VBD was ) ( VP ( VBN priced ) ( PP-CLR ( IN at ) ( PP ( NP ( NP ( DT a ) ( NN spread ) ) ( PP ( IN of ) ( NP ( CD 105 ) ( NN basis ) ( NNS points ) ) ) ) ( IN above ) ( NP ( NP ( DT the ) ( NNP Treasury ) ( POS 's ) ) ( JJ 30-year ) ( JJ bellwether ) ( NN bond ) ) ) ) ) ) )

The 30-year issue was priced at a spread of 105 basis points above the Treasury 's 30-year bellwether bond


( S ( NP-SBJ-1 ( NP ( DT The ) ( JJ second ) ( NN part ) ) ( VP ( VBG consisting ) ( PP-CLR ( IN of ) ( NP ( NP ( QP ( CD 1 ) ( CD billion ) ) ) ( PP ( IN of ) ( NP ( NP ( JJ noncallable ) ( NNS bonds ) ) ( ADJP ( JJ due ) ( NP-TMP ( NNP Oct. ) ( CD 1 ) ( CD 1999 ) ) ) ) ) ) ) ) ) ( VP ( VBD was ) ( VP ( VBN priced ) ( PP ( IN as ) ( NP ( ADJP ( QP ( CD 8 ) ( CD 3\/8 ) ) ( NN % ) ) ( NNS securities ) ) ) ( PP-CLR ( IN at ) ( NP ( CD 99.691 ) ) ) ( S-CLR ( VP ( TO to ) ( VP ( VB yield ) ( NP ( CD 8.42 ) ( NN % ) ) ) ) ) ) ) )

The second part consisting of 1 billion of noncallable bonds due Oct. 1 1999 was priced as 8 3\/8 % securities at 99.691 to yield 8.42 %


( S ( NP-SBJ-1 ( DT The ) ( JJ 10-year ) ( NN issue ) ) ( VP ( VBD was ) ( VP ( VBN priced ) ( PP-CLR ( IN at ) ( PP ( NP ( NP ( DT a ) ( NN spread ) ) ( PP ( IN of ) ( NP ( CD 43 ) ( NN basis ) ( NNS points ) ) ) ) ( IN above ) ( NP ( NP ( DT the ) ( NNP Treasury ) ( POS 's ) ) ( JJ 10-year ) ( NN note ) ) ) ) ) ) )

The 10-year issue was priced at a spread of 43 basis points above the Treasury 's 10-year note


( S ( NP-SBJ-1 ( NP ( DT The ) ( JJ third ) ( NN part ) ) ( VP ( VBG consisting ) ( PP-CLR ( IN of ) ( NP ( NP ( QP ( CD 1 ) ( CD billion ) ) ) ( PP ( IN of ) ( NP ( NP ( JJ noncallable ) ( NNS bonds ) ) ( ADJP ( JJ due ) ( NP-TMP ( NNP Oct. ) ( CD 1 ) ( CD 1994 ) ) ) ) ) ) ) ) ) ( VP ( VBD was ) ( VP ( VBN priced ) ( PP ( IN as ) ( NP ( ADJP ( QP ( CD 8 ) ( CD 1\/4 ) ) ( NN % ) ) ( NNS securities ) ) ) ( PP-CLR ( IN at ) ( NP ( CD 99.672 ) ) ) ( S-CLR ( VP ( TO to ) ( VP ( VB yield ) ( NP ( CD 8.33 ) ( NN % ) ) ) ) ) ) ) )

The third part consisting of 1 billion of noncallable bonds due Oct. 1 1994 was priced as 8 1\/4 % securities at 99.672 to yield 8.33 %


( S ( NP-SBJ-1 ( DT The ) ( JJ five-year ) ( NN issue ) ) ( VP ( VBD was ) ( VP ( VBN priced ) ( PP-CLR ( IN at ) ( PP ( NP ( NP ( DT a ) ( NN spread ) ) ( PP ( IN of ) ( NP ( CD 43 ) ( NN basis ) ( NNS points ) ) ) ) ( IN above ) ( NP ( NP ( DT the ) ( NNP Treasury ) ( POS 's ) ) ( JJ comparable ) ( NN note ) ) ) ) ) ) )

The five-year issue was priced at a spread of 43 basis points above the Treasury 's comparable note


( S ( NP-SBJ-1 ( DT The ) ( NN issue ) ) ( VP ( VBZ is ) ( VP ( VP ( VBN rated ) ( S ( ADJP-PRD-2 ( JJ triple-A ) ) ) ( PP-3 ( IN by ) ( NP-LGS ( NNP Moody ) ( POS 's ) ) ) ) ( CC and ) ( VP ( ADJP-PRD=2 ( JJ triple-A ) ) ( PP=3 ( IN by ) ( NP-LGS ( NNP S&P ) ) ) ) ) ) )

The issue is rated triple-A by Moody 's and triple-A by S&P


( S ( NP-SBJ ( NP ( NNP Blinder ) ( NNP International ) ( NNP Enterprises ) ( NNP Inc. ) ) ( NP ( NP ( DT the ) ( NN parent ) ) ( PP ( IN of ) ( NP ( JJ beleaguered ) ( NN penny-stockbroker ) ( NNP Blinder ) ( NNP Robinson ) ( CC & ) ( NNP Co. ) ) ) ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( PRP$ its ) ( NNS shareholders ) ) ( VP ( VBD approved ) ( NP ( NP ( DT a ) ( ADJP ( RB previously ) ( VBN announced ) ) ( NN name ) ( NN change ) ) ( PP ( TO to ) ( NP ( NNP Intercontinental ) ( NNP Enterprises ) ( NNP Inc ) ) ) ) ) ) ) ) )

Blinder International Enterprises Inc. the parent of beleaguered penny-stockbroker Blinder Robinson & Co. said its shareholders approved a previously announced name change to Intercontinental Enterprises Inc


( SINV ( S-TPC-1 ( NP-SBJ ( DT The ) ( NN parent ) ( NN company ) ) ( VP ( VBZ is ) ( VP ( VBG diversifying ) ( PP-DIR ( IN into ) ( NP ( NP ( JJ other ) ( NNS industries ) ) ( ADVP-LOC ( IN around ) ( NP ( DT the ) ( NN world ) ) ) ) ) ) ) ) ( VP ( VBD said ) ) ( NP-SBJ-2 ( NN president ) ( NNP Meyer ) ( NNP Blinder ) ) ( PP ( IN in ) ( S-NOM ( VP ( VBG explaining ) ( NP ( DT the ) ( NN name ) ( NN change ) ) ) ) ) )

The parent company is diversifying into other industries around the world said president Meyer Blinder in explaining the name change


( S ( NP-TMP ( NP ( RB Everytime ) ) ( SBAR ( S ( NP-SBJ ( PRP we ) ) ( VP ( VBD talked ) ( PP-CLR ( IN about ) ( NP ( NNP Blinder ) ( NNP International ) ) ) ) ) ) ) ( NP-SBJ ( PRN ( NNS people ) ) ) ( VP ( VBD thought ) ( SBAR ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBD was ) ( NP-PRD ( DT the ) ( NN brokerage ) ( NN house ) ) ) ) ) ) )

Everytime we talked about Blinder International people thought it was the brokerage house


( S ( NP-SBJ ( NNP Mr. ) ( NNP Blinder ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( DT the ) ( NN change ) ) ( VP ( VBD was ) ( RB n't ) ( ADJP-PRD ( VBN related ) ( PP ( TO to ) ( NP ( NP ( NP ( DT the ) ( NN brokerage ) ( POS 's ) ) ( JJ recent ) ( NNS troubles ) ) ( SBAR ( WHNP-1 ( WDT which ) ) ( S ( VP ( VBP have ) ( VP ( VBN included ) ( NP ( NP ( NP ( JJ sharp ) ( NNS declines ) ) ( PP-LOC ( IN in ) ( NP ( NNS earnings ) ) ) ) ( NP ( NP ( NNS run-ins ) ) ( PP ( IN with ) ( NP ( DT the ) ( NNS securities ) ( NNS regulators ) ) ) ) ( CC and ) ( NP ( NP ( NNS lawsuits ) ) ( PP ( IN by ) ( NP ( JJ former ) ( NNS customers ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Mr. Blinder said the change was n't related to the brokerage 's recent troubles which have included sharp declines in earnings run-ins with the securities regulators and lawsuits by former customers


( S ( NP-SBJ ( DT The ) ( NN company ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBZ expects ) ( S ( NP-SBJ ( DT the ) ( NN name ) ( NN change ) ) ( VP ( TO to ) ( VP ( VB take ) ( NP ( NN effect ) ) ( PP-TMP ( IN within ) ( NP ( DT a ) ( NN week ) ) ) ) ) ) ) ) ) ) )

The company said it expects the name change to take effect within a week


( S ( NP-SBJ ( NP ( NNP Ciba-Geigy ) ( NNP Ltd. ) ) ( CC and ) ( NP ( NNP Chiron ) ( NNP Corp. ) ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( PRP they ) ) ( VP ( VBD extended ) ( NP ( NP ( PRP$ their ) ( NN offer ) ) ( PP ( IN for ) ( NP ( NNP Connaught ) ( NNP BioSciences ) ( NNP Inc. ) ) ) ( VP ( VBN valued ) ( PP-CLR ( IN at ) ( NP ( NP ( QP ( CD 866 ) ( CD million ) ) ( JJ Canadian ) ( NNS dollars ) ) ( PRN ( NP ( QP ( CD 736 ) ( CD million ) ) ) ) ) ) ) ) ( PP-DIR ( TO to ) ( NP ( NNP Oct. ) ( CD 27 ) ) ) ) ) ) ) )

Ciba-Geigy Ltd. and Chiron Corp. said they extended their offer for Connaught BioSciences Inc. valued at 866 million Canadian dollars 736 million to Oct. 27


( S ( NP-SBJ ( DT The ) ( NNS companies ) ) ( ADVP-TMP ( RBR earlier ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ-1 ( PRP they ) ) ( VP ( VBD did ) ( RB n't ) ( VP ( VB want ) ( S ( VP ( TO to ) ( VP ( VB raise ) ( NP ( PRP$ their ) ( NN offer ) ) ( S-PRP ( VP ( TO to ) ( VP ( VB match ) ( NP ( NP ( DT a ) ( JJ rival ) ( NN bid ) ) ( PP ( IN by ) ( NP ( NNP Institut ) ( NNP Merieux ) ( NNP S.A. ) ) ) ( PP ( IN of ) ( NP ( NP ( NP ( CD 37 ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ( CC or ) ( NP ( QP ( CD 942 ) ( CD million ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

The companies earlier said they did n't want to raise their offer to match a rival bid by Institut Merieux S.A. of 37 a share or 942 million


( S ( CC But ) ( NP-SBJ ( PRP they ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ-3 ( NP ( DT the ) ( ADJP ( JJ 30-a-share ) ) ( NN bid ) ) ( SBAR ( WHNP-1 ( WDT which ) ) ( S ( VP ( VBD was ) ( ADJP-PRD ( JJ due ) ( S ( VP ( TO to ) ( VP ( VB expire ) ( NP-TMP ( NNP Monday ) ) ) ) ) ) ) ) ) ) ( VP ( MD may ) ( ADVP-TMP ( RB still ) ) ( VP ( VB be ) ( VP ( VBN extended ) ( CC or ) ( VBN varied ) ) ) ) ) ) ) )

But they said the 30-a-share bid which was due to expire Monday may still be extended or varied


( S ( NP-SBJ ( NP ( NNP Merieux ) ) ( NP ( NP ( DT a ) ( NN vaccine ) ( NN manufacturer ) ) ( VP ( VBN based ) ( PP-LOC-CLR ( IN in ) ( NP ( NP ( NNP Lyon ) ) ( NP ( NNP France ) ) ) ) ) ) ) ( VP ( VBZ is ) ( ADJP-PRD ( JJ 51%-held ) ( PP ( IN by ) ( NP ( JJ French ) ( JJ state-owned ) ( NNP Rhone-Poulenc ) ( NNP S.A ) ) ) ) ) )

Merieux a vaccine manufacturer based in Lyon France is 51%-held by French state-owned Rhone-Poulenc S.A


( S ( NP-SBJ ( NNP Ciba-Geigy ) ) ( VP ( VBZ is ) ( NP-PRD ( NP ( DT a ) ( JJ major ) ( JJ pharmaceutical ) ( NN concern ) ) ( VP ( VBN based ) ( PP-LOC-CLR ( IN in ) ( NP ( NP ( NNP Basel ) ) ( NP ( NNP Switzerland ) ) ) ) ) ) ) )

Ciba-Geigy is a major pharmaceutical concern based in Basel Switzerland


( S ( NP-SBJ-1 ( NP ( NNP Chiron ) ) ( NP ( DT another ) ( JJ pharmaceutical ) ( NN concern ) ) ) ( VP ( VBZ is ) ( VP ( VBN based ) ( PP-LOC-CLR ( IN in ) ( NP ( NP ( NNP Emeryville ) ) ( NP ( NNP Calif ) ) ) ) ) ) )

Chiron another pharmaceutical concern is based in Emeryville Calif


( S ( NP-SBJ ( NNP Connaught ) ) ( VP ( VBZ is ) ( NP-PRD ( DT a ) ( NN biotechnology ) ( NN research ) ( CC and ) ( NN vaccine ) ( NN manufacturing ) ( NN concern ) ) ) )

Connaught is a biotechnology research and vaccine manufacturing concern


( S ( NP-SBJ ( NP ( NP ( NNP Institut ) ( NNP Merieux ) ( POS 's ) ) ( NN bid ) ) ( PP ( IN for ) ( NP ( JJ Toronto-based ) ( NNP Connaught ) ) ) ) ( VP ( VBZ has ) ( VP ( VBN run ) ( PP-DIR ( IN into ) ( NP ( NP ( NNS problems ) ) ( PP ( IN with ) ( NP ( NP ( DT the ) ( JJ Canadian ) ( NN government ) ) ( SBAR ( WHNP-1 ( WDT which ) ) ( S ( VP ( VBD told ) ( NP ( NNP Merieux ) ) ( NP-TMP ( JJ last ) ( NN week ) ) ( SBAR ( IN that ) ( S ( NP-SBJ-2 ( PRP it ) ) ( VP ( VBD was ) ( RB n't ) ( VP ( VBN convinced ) ( SBAR ( IN that ) ( S ( NP-SBJ ( DT the ) ( JJ proposed ) ( NN acquisition ) ) ( VP ( MD would ) ( VP ( VB be ) ( PP-PRD ( IN of ) ( NP ( NP ( JJ net ) ( NN benefit ) ) ( PP ( TO to ) ( NP ( NNP Canada ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Institut Merieux 's bid for Toronto-based Connaught has run into problems with the Canadian government which told Merieux last week that it was n't convinced that the proposed acquisition would be of net benefit to Canada


( S ( NP-SBJ-1 ( NNP Merieux ) ( NNS officials ) ) ( VP ( VBP are ) ( VP ( VBN expected ) ( S ( VP ( TO to ) ( VP ( VB meet ) ( PP-CLR ( IN with ) ( NP ( JJ federal ) ( NNS officials ) ) ) ( PP-LOC ( IN in ) ( NP ( NNP Ottawa ) ) ) ( NP-TMP ( NN today ) ) ( S-PRP ( VP ( TO to ) ( VP ( VB discuss ) ( NP ( DT the ) ( NN decision ) ) ) ) ) ) ) ) ) ) )

Merieux officials are expected to meet with federal officials in Ottawa today to discuss the decision


( S ( NP-SBJ ( NNP Fleet\/Norstar ) ( NNP Financial ) ( NNP Group ) ) ( VP ( VBD reported ) ( NP ( NP ( DT a ) ( ADJP ( CD 12 ) ( NN % ) ) ( NN increase ) ) ( PP-LOC ( IN in ) ( NP ( JJ net ) ( NN income ) ) ) ( PP-TMP ( IN in ) ( NP ( DT the ) ( JJ third ) ( NN quarter ) ) ) ( VP ( VBN led ) ( PP ( IN by ) ( NP-LGS ( NP ( DT a ) ( ADJP ( CD 43 ) ( NN % ) ) ( NN gain ) ) ( PP-LOC ( IN in ) ( NP ( PRP$ its ) ( JJ financial ) ( NNS services ) ( NN group ) ) ) ) ) ) ) ) )

Fleet\/Norstar Financial Group reported a 12 % increase in net income in the third quarter led by a 43 % gain in its financial services group


( S ( NP-SBJ ( NP ( NNP Fleet ) ( POS 's ) ) ( NN net ) ) ( VP ( VBD was ) ( NP-PRD ( NP ( NP ( QP ( CD 96.4 ) ( CD million ) ) ) ( CC or ) ( NP ( NP ( CD 86 ) ( NNS cents ) ) ( NP-ADV ( DT a ) ( JJ primary ) ( NN share ) ) ) ) ( PP ( VBN compared ) ( PP ( IN with ) ( NP ( NP ( NP ( QP ( CD 85.8 ) ( CD million ) ) ) ( CC or ) ( NP ( NP ( CD 79 ) ( NNS cents ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ( ADVP-TMP ( NP ( DT a ) ( NN year ) ) ( RBR earlier ) ) ) ) ) ) ) )

Fleet 's net was 96.4 million or 86 cents a primary share compared with 85.8 million or 79 cents a share a year earlier


( S ( NP-SBJ ( NP ( DT The ) ( NAC-LOC ( NNP Providence ) ( NNP R.I. ) ) ( JJ financial ) ( NNS services ) ( NN group ) ) ( SBAR ( WHNP-1 ( WDT which ) ) ( S ( VP ( VBZ includes ) ( NP ( NN commercial-credit ) ( NN leasing ) ( CC and ) ( NN mortgage-banking ) ( NNS operations ) ) ) ) ) ) ( VP ( VBD contributed ) ( NP ( NP ( QP ( CD 30.6 ) ( CD million ) ) ) ) ( PP-CLR ( TO to ) ( NP ( NN net ) ) ) ( ADVP-2 ( RB up ) ( PP ( IN from ) ( NP ( NP ( JJ last ) ( NN year ) ( POS 's ) ) ( QP ( CD 21.3 ) ( CD million ) ) ) ) ) ) )

The Providence R.I. financial services group which includes commercial-credit leasing and mortgage-banking operations contributed 30.6 million to net up from last year 's 21.3 million


( S ( NP-SBJ ( NNP Fleet ) ) ( ADVP ( RB also ) ) ( VP ( VBD noted ) ( SBAR ( IN that ) ( S ( PP ( IN unlike ) ( NP ( NP ( JJ other ) ( NN banking ) ( NNS companies ) ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( NNP Northeast ) ) ) ) ) ( NP-SBJ-1 ( PRP it ) ) ( VP ( VBZ has ) ( VP ( VBN been ) ( VP ( ADVP ( RB only ) ( RB marginally ) ) ( VBN hurt ) ( PP ( IN by ) ( NP-LGS ( NP ( JJ nonperforming ) ( NNS loans ) ) ( SBAR ( WHNP-2 ( WDT that ) ) ( S ( VP ( VBP have ) ( VP ( VBN resulted ) ( PP-CLR ( IN from ) ( NP ( DT the ) ( VBG slumping ) ( JJ regional ) ( JJ real ) ( NN estate ) ( NN market ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Fleet also noted that unlike other banking companies in the Northeast it has been only marginally hurt by nonperforming loans that have resulted from the slumping regional real estate market


( S ( NP-SBJ ( NNP Fleet ) ) ( VP ( VBD reported ) ( NP ( NP ( JJ nine-month ) ( NN net ) ) ( PP ( IN of ) ( NP ( NP ( QP ( CD 279.0 ) ( CD million ) ) ) ( CC or ) ( NP ( NP ( CD 2.51 ) ) ( NP-ADV ( DT a ) ( JJ primary ) ( NN share ) ) ) ) ) ( ADVP ( RB up ) ( PP ( IN from ) ( NP ( NP ( NP ( QP ( CD 248.2 ) ( CD million ) ) ) ( CC or ) ( NP ( NP ( CD 2.28 ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ( ADVP-TMP ( NP ( DT a ) ( NN year ) ) ( RBR earlier ) ) ) ) ) ) ) )

Fleet reported nine-month net of 279.0 million or 2.51 a primary share up from 248.2 million or 2.28 a share a year earlier


( S ( NP-SBJ ( NNP Northgate ) ( NNP Exploration ) ( NNP Ltd. ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ-1 ( PRP it ) ) ( VP ( VBZ is ) ( VP ( VBG proposing ) ( S ( VP ( TO to ) ( VP ( VB amalgamate ) ( NP ( NP ( CD four ) ) ( PP ( IN of ) ( NP ( PRP$ its ) ( JJ associated ) ( NNS companies ) ) ) ) ) ) ) ) ) ) ) ) )

Northgate Exploration Ltd. said it is proposing to amalgamate four of its associated companies


( S ( PP-LOC ( IN Under ) ( NP ( NP ( DT a ) ( VBN proposed ) ( JJ two-step ) ( NN amalgamation ) ) ( VP ( VBG involving ) ( NP ( NN share ) ( NNS swaps ) ) ) ) ) ( NP-SBJ ( NP ( NNP ABM ) ( NNP Gold ) ( NNP Corp. ) ) ( NP ( DT a ) ( JJ gold ) ( NN exploration ) ( CC and ) ( NN management ) ( NN company ) ) ) ( VP ( MD will ) ( VP ( VB merge ) ( PP-CLR ( IN with ) ( NP ( NP ( NNP Neptune ) ( NNP Resources ) ( NNP Corp. ) ) ( NP ( NNP United ) ( NNP Gold ) ( NNP Corp. ) ) ( CC and ) ( NP ( NNP Inca ) ( NNP Resources ) ( NNP Inc ) ) ) ) ) ) )

Under a proposed two-step amalgamation involving share swaps ABM Gold Corp. a gold exploration and management company will merge with Neptune Resources Corp. United Gold Corp. and Inca Resources Inc


( S ( NP-SBJ ( NNP ABM ) ) ( VP ( MD will ) ( ADVP ( RB also ) ) ( VP ( VB increase ) ( NP ( NP ( PRP$ its ) ( NN stake ) ) ( PP-LOC ( IN in ) ( NP ( NNP Sonora ) ( NNP Gold ) ( NNP Corp. ) ) ) ) ( PP-DIR ( TO to ) ( NP ( CD 42 ) ( NN % ) ) ) ( PP-DIR ( IN from ) ( NP ( CD 26 ) ( NN % ) ) ) ) ) )

ABM will also increase its stake in Sonora Gold Corp. to 42 % from 26 %


( S ( NP-SBJ ( NNP Northgate ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( PRP it ) ) ( VP ( MD will ) ( VP ( VB own ) ( NP ( NP ( NP ( QP ( RB about ) ( CD 50 ) ) ( NN % ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( NN equity ) ) ) ) ) ( CC and ) ( NP ( NP ( CD 81 ) ( NN % ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( NNS votes ) ) ) ) ) ( PP-1 ( IN of ) ( NP ( NNP ABM ) ) ) ) ( PP-TMP ( IN after ) ( NP ( DT the ) ( NN amalgamation ) ) ) ) ) ) ) ) )

Northgate said it will own about 50 % of the equity and 81 % of the votes of ABM after the amalgamation


( S ( NP-SBJ ( DT The ) ( NNS amalgamations ) ) ( VP ( VP ( VBP are ) ( ADJP-PRD ( JJ subject ) ( PP ( TO to ) ( NP ( JJ regulatory ) ( NN approval ) ) ) ) ) ( CC and ) ( VP ( VBP require ) ( NP ( NP ( NN approval ) ) ( PP ( IN by ) ( NP ( NP ( NNS shareholders ) ) ( PP ( IN of ) ( NP ( NNP ABM ) ( NNP Inca ) ( NNP United ) ( CC and ) ( NNP Neptune ) ) ) ) ) ( PP-LOC ( IN at ) ( NP ( NP ( JJ special ) ( NNS meetings ) ) ( PP-TMP ( IN on ) ( NP ( NNP Nov. ) ( CD 10 ) ) ) ) ) ) ) ) )

The amalgamations are subject to regulatory approval and require approval by shareholders of ABM Inca United and Neptune at special meetings on Nov. 10


( S ( NP-SBJ ( NP ( DT The ) ( JJ lethal ) ( NNS shudders ) ) ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( VP ( VBD wracked ) ( NP ( DT the ) ( NNP San ) ( NNP Francisco ) ( NNP Bay ) ( NNP Area ) ) ) ) ) ( VP ( VBN rated ) ( S ( NP-PRD ( NP ( DT a ) ( CD 6.9 ) ) ( PP-LOC ( IN on ) ( NP ( DT the ) ( JJR Richter ) ( NN scale ) ) ) ) ) ) ) ( VP ( VBD did ) ( RB n't ) ( VP ( VB match ) ( NP ( NP ( DT the ) ( JJ great ) ( NN earthquake ) ) ( PP ( IN of ) ( NP ( CD 1906 ) ) ) ( VP ( VBN rated ) ( PP-CLR ( IN at ) ( NP ( CD 8.25 ) ) ) ) ) ) ) )

The lethal shudders that wracked the San Francisco Bay Area rated a 6.9 on the Richter scale did n't match the great earthquake of 1906 rated at 8.25


( SINV ( S-TPC-1 ( NP-SBJ ( NP ( DT The ) ( NN difference ) ) ( PP ( IN of ) ( NP ( NP ( QP ( RB just ) ( CD 1.35 ) ) ( NNS points ) ) ( PP-LOC ( IN on ) ( NP ( NP ( DT the ) ( NN scale ) ) ( VP ( VBN designed ) ( PP ( IN by ) ( NP-LGS ( NP ( NNP Charles ) ( NNP Richter ) ) ( PP ( IN of ) ( NP ( NNP CalTech ) ) ) ) ) ( PP-TMP ( IN in ) ( NP ( DT the ) ( NNS 1930s ) ) ) ) ) ) ) ) ) ( VP ( VBZ means ) ( SBAR ( S ( NP-SBJ ( DT the ) ( JJR older ) ( NN quake ) ) ( VP ( VBD was ) ( ADJP-PRD ( QP ( CD 10 ) ( TO to ) ( CD 20 ) ( NNS times ) ) ( JJR stronger ) ) ) ) ) ) ) ( VP ( VBZ says ) ) ( NP-SBJ ( NP ( NNP Lane ) ( NNP Johnson ) ) ( NP ( NP ( NN director ) ) ( PP ( IN of ) ( NP ( DT the ) ( NAC ( NNP University ) ( PP ( IN of ) ( NP ( NNP California ) ) ) ( NP-LOC ( NNP Berkeley ) ) ) ( NNP Seismographic ) ( NNP Station ) ) ) ) ) )

The difference of just 1.35 points on the scale designed by Charles Richter of CalTech in the 1930s means the older quake was 10 to 20 times stronger says Lane Johnson director of the University of California Berkeley Seismographic Station


( S ( S-TPC-1 ( NP-SBJ ( DT The ) ( NN ground ) ) ( VP ( VBD ruptured ) ( PP-LOC ( IN along ) ( NP ( NP ( DT a ) ( JJ 20-to-30-mile ) ( NN stretch ) ) ( PP ( IN of ) ( NP ( DT the ) ( NNP San ) ( NNP Andreas ) ( NNP Fault ) ) ) ) ) ( PP-TMP ( IN on ) ( NP ( NNP Tuesday ) ) ) ) ) ( NP-SBJ ( NNP Mr. ) ( NNP Johnson ) ) ( VP ( VBD added ) ) )

The ground ruptured along a 20-to-30-mile stretch of the San Andreas Fault on Tuesday Mr. Johnson added


( S ( PP-TMP ( IN In ) ( NP ( CD 1906 ) ) ) ( NP-SBJ ( DT the ) ( NN rupture ) ) ( VP ( VBD was ) ( ADJP-PRD ( ADJP ( NP ( CD 300 ) ( NNS miles ) ) ( JJ long ) ) ( CC and ) ( ADJP ( NP ( DT a ) ( NN couple ) ( NNS feet ) ) ( JJ wide ) ) ) ) )

In 1906 the rupture was 300 miles long and a couple feet wide


( S ( SBAR-ADV ( IN Though ) ( S ( NP-SBJ-1 ( NP ( DT the ) ( NN epicenter ) ) ( PP ( IN of ) ( NP ( NP ( NNP Tuesday ) ( POS 's ) ) ( NN temblor ) ) ) ) ( VP ( VBD was ) ( VP ( VBN located ) ( ADVP-CLR ( ADVP ( NP ( CD 10 ) ( NNS miles ) ) ( RB north ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( NN town ) ) ( PP ( IN of ) ( NP ( NNP Santa ) ( NNP Cruz ) ) ) ) ) ) ( CC and ) ( ADVP ( NP ( CD 50 ) ( NNS miles ) ) ( RB south ) ( PP ( IN of ) ( NP ( NNP San ) ( NNP Francisco ) ) ) ) ) ) ) ) ) ( NP-SBJ ( PRP$ its ) ( NN havoc ) ) ( VP ( VBD hopscotched ) ( PP-DIR ( IN up ) ( NP ( DT the ) ( NN coast ) ) ) ( PP-MNR ( IN in ) ( NP ( ADJP ( RB seemingly ) ( JJ random ) ) ( NN fashion ) ) ) ) )

Though the epicenter of Tuesday 's temblor was located 10 miles north of the town of Santa Cruz and 50 miles south of San Francisco its havoc hopscotched up the coast in seemingly random fashion


( S ( CC But ) ( NP-SBJ-1 ( DT the ) ( JJS greatest ) ( NN damage ) ) ( VP ( VBD was ) ( VP ( VBN visited ) ( PP-CLR ( IN on ) ( NP ( NP ( NNS buildings ) ( CC and ) ( NNS roadways ) ) ( VP ( VBN perched ) ( PP-LOC-CLR ( IN upon ) ( NP ( NN landfill ) ) ) ( SBAR-ADV ( IN as ) ( SINV ( VP ( VBD were ) ) ( NP-SBJ ( NP ( NP ( NP ( DT the ) ( NNP Marina ) ( NNP District ) ) ( PP ( IN of ) ( NP ( NNP San ) ( NNP Francisco ) ) ) ) ( CC and ) ( NP ( DT the ) ( NNP Bay ) ( NNP Bridge ) ) ) ( NP ( NP ( CD two ) ( NNS areas ) ) ( PP ( IN of ) ( NP ( JJ maximum ) ( NN devastation ) ) ) ) ) ) ) ) ) ) ) ) )

But the greatest damage was visited on buildings and roadways perched upon landfill as were the Marina District of San Francisco and the Bay Bridge two areas of maximum devastation


( SINV ( S-TPC-2 ( S ( NP-SBJ ( NP ( NN Landfill ) ) ( NP ( ADJP ( JJ loose ) ( CC and ) ( JJ unconsolidated ) ) ( NN earth ) ) ) ( VP ( MD may ) ( VP ( VB feel ) ( PP-CLR ( IN like ) ( NP ( NN rock ) ) ) ) ) ) ( CC but ) ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBZ behaves ) ( PP-MNR ( IN like ) ( NP ( NN liquid ) ) ) ( SBAR-TMP ( WHADVP-1 ( WRB when ) ) ( S ( NP-SBJ ( PRP you ) ) ( VP ( VBP shake ) ( NP ( PRP it ) ) ) ) ) ) ) ) ( VP ( VBD said ) ) ( NP-SBJ ( NP ( NNP Douglas ) ( NNP Segar ) ) ( NP ( NP ( NN professor ) ) ( PP ( IN of ) ( NP ( NNS geosciences ) ) ) ( PP-LOC ( IN at ) ( NP ( NNP San ) ( NNP Francisco ) ( NNP State ) ( NNP University ) ) ) ) ) ( PP-LOC ( IN in ) ( NP ( DT a ) ( JJ televised ) ( NN interview ) ) ) )

Landfill loose and unconsolidated earth may feel like rock but it behaves like liquid when you shake it said Douglas Segar professor of geosciences at San Francisco State University in a televised interview


( S ( NP-SBJ ( PRP It ) ) ( VP ( VBZ liquefies ) ( PP-MNR ( IN in ) ( NP ( DT a ) ( JJ patchwork ) ( NN quilt ) ( NN pattern ) ) ) ) )

It liquefies in a patchwork quilt pattern


( S ( NP-SBJ ( PRP$ Our ) ( NN quake ) ) ( VP ( VBD behaved ) ( PP-MNR ( RB much ) ( IN like ) ( NP ( NP ( DT the ) ( NNP Mexico ) ( NNP City ) ( NN earthquake ) ) ( SBAR ( WHADVP-1 ( WRB where ) ) ( S ( NP-SBJ ( JJ great ) ( NN damage ) ) ( VP ( VBD was ) ( PP-LOC-PRD ( NP ( NNS miles ) ) ( IN from ) ( NP ( DT the ) ( NN epicenter ) ) ) ) ) ) ) ) ) )

Our quake behaved much like the Mexico City earthquake where great damage was miles from the epicenter


( S ( NP-SBJ ( NP ( NNP Mr. ) ( NNP Johnson ) ) ( PP ( IN of ) ( NP ( DT the ) ( NNP Berkeley ) ( JJ seismographic ) ( NN station ) ) ) ) ( VP ( VBD said ) ( S ( NP-SBJ-2 ( NN Landfill ) ) ( VP ( MD can ) ( VP ( VB be ) ( VP ( VBN done ) ( SBAR-ADV ( IN if ) ( S ( NP-SBJ-1 ( PRP it ) ) ( VP ( VBZ 's ) ( VP ( ADVP-MNR ( RB properly ) ) ( VBN compacted ) ) ) ) ) ) ) ) ) ) )

Mr. Johnson of the Berkeley seismographic station said Landfill can be done if it 's properly compacted


( S ( NP-SBJ ( PRP You ) ) ( VP ( MD can ) ( VP ( VP ( VB drive ) ( NP ( NNS piles ) ) ( PP-LOC ( IN on ) ( NP ( PRP it ) ) ) ) ( CC and ) ( VP ( VB build ) ( PP-LOC ( IN on ) ( NP ( PRP it ) ) ) ) ) ) )

You can drive piles on it and build on it


( S ( NP-SBJ ( PRP He ) ) ( VP ( VBD cited ) ( NP ( NP ( DT the ) ( NN example ) ) ( PP ( IN of ) ( NP ( NP ( NP ( NNP San ) ( NNP Francisco ) ( POS 's ) ) ( JJ financial ) ( NN district ) ) ( SBAR ( WHADVP-1 ( WRB where ) ) ( S ( NP-SBJ-2 ( JJ many ) ( JJ new ) ( NN glass ) ( NNS towers ) ) ( VP ( VBD survived ) ( S-CLR ( ADJP-PRD ( RB almost ) ( JJ unscathed ) ) ) ) ) ) ) ) ) ) )

He cited the example of San Francisco 's financial district where many new glass towers survived almost unscathed


( S ( S-TPC-2 ( CC But ) ( NP-SBJ ( NP ( DT the ) ( JJ public ) ( NN policy ) ( NNS issues ) ) ( VP ( VBN raised ) ( PP ( IN by ) ( NP-LGS ( NN earthquake ) ( NN damage ) ) ) ) ) ( VP ( MD will ) ( VP ( VB be ) ( ADJP-PRD ( JJ difficult ) ( SBAR ( S ( VP ( TO to ) ( VP ( VB address ) ) ) ) ) ) ) ) ) ( NP-SBJ ( NNP Mr. ) ( NNP Johnson ) ) ( VP ( VBD predicted ) ) )

But the public policy issues raised by earthquake damage will be difficult to address Mr. Johnson predicted


( S ( S-TPC-1 ( NP-SBJ ( NP ( DT The ) ( NN attention ) ( NN span ) ) ( PP ( IN of ) ( NP ( DT the ) ( NN public ) ) ) ) ( VP ( VBZ is ) ( ADJP-PRD ( JJ short ) ) ) ) ( NP-SBJ ( PRP he ) ) ( VP ( VBD said ) ) )

The attention span of the public is short he said


( S ( NP-SBJ ( PRP We ) ) ( VP ( VBP 've ) ( VP ( VBN known ) ( PP-TMP ( IN for ) ( NP ( NNS years ) ( CC and ) ( NNS years ) ) ) ( SBAR ( S ( NP-SBJ ( PRP we ) ) ( VP ( VBP 've ) ( VP ( VBD got ) ( NP ( NP ( NNS lots ) ) ( PP ( IN of ) ( NP ( JJ old ) ( PRN ( JJ pre-1950s ) ) ( JJ unreinforced ) ( NN brick ) ( CC and ) ( NN masonry ) ( NNS buildings ) ) ) ) ) ) ) ) ) ) )

We 've known for years and years we 've got lots of old pre-1950s unreinforced brick and masonry buildings


( S ( NP-SBJ ( NP ( CD One ) ( JJ old ) ( NN building ) ) ( NP ( NP ( DT the ) ( NNP Golden ) ( NNP State ) ( NNP Bank ) ( NNP Building ) ) ( PP-LOC ( IN on ) ( NP ( NNP Front ) ( NNP Street ) ) ) ) ) ( VP ( VBD had ) ( S ( NP-SBJ-1 ( PRP$ its ) ( JJ yellow ) ( NN brick ) ( NN facade ) ) ( VP ( VBN sheared ) ( PRT ( RP off ) ) ( PP ( IN by ) ( NP-LGS ( NP ( DT the ) ( NN shock ) ) ( PP ( IN of ) ( NP ( DT the ) ( NN quake ) ) ) ) ) ( S-ADV ( VP ( VBG leaving ) ( S ( NP-SBJ ( NP ( DT a ) ( NN wedge ) ) ( PP ( IN of ) ( NP ( PRP$ its ) ( JJ third ) ( NN floor ) ) ) ) ( ADJP-PRD ( RB open ) ( PP ( TO to ) ( NP ( DT the ) ( NN air ) ) ) ) ) ( SBAR-TMP ( IN while ) ( S ( NP-SBJ-2 ( NP ( NNS piles ) ) ( PP ( IN of ) ( NP ( JJ dusty ) ( NNS bricks ) ) ) ) ( VP ( VBD tumbled ) ( PP-DIR ( TO to ) ( NP ( DT the ) ( NN street ) ( RB below ) ) ) ( S-ADV ( VP ( ADVP-MNR ( RB narrowly ) ) ( VBG missing ) ( NP ( JJ rush-hour ) ( NNS pedestrians ) ( CC and ) ( NNS cars ) ) ) ) ) ) ) ) ) ) ) ) )

One old building the Golden State Bank Building on Front Street had its yellow brick facade sheared off by the shock of the quake leaving a wedge of its third floor open to the air while piles of dusty bricks tumbled to the street below narrowly missing rush-hour pedestrians and cars


( S-1 ( S-NOM-SBJ ( VP ( VBG Reinforcing ) ( NP ( JJ such ) ( JJ old ) ( NN building ) ( NN stock ) ) ) ) ( PRN ( S ( NP-SBJ ( NNP Mr. ) ( NNP Johnson ) ) ( VP ( VBD said ) ) ) ) ( VP ( VBZ comes ) ( ADVP-CLR ( RB down ) ) ( PP-CLR ( TO to ) ( NP ( NN money ) ) ) ) )

Reinforcing such old building stock Mr. Johnson said comes down to money


( S ( NP-SBJ ( PRP It ) ) ( VP ( VBZ 's ) ( NP-PRD ( DT a ) ( NN danger ) ) ) )

It 's a danger


( S ( NP-SBJ ( PRP We ) ) ( VP ( VBP know ) ( SBAR ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBZ 's ) ( ADVP-LOC-PRD ( RB there ) ) ) ) ) ) )

We know it 's there


( S ( CC And ) ( ADVP-TMP ( RB sooner ) ( CC or ) ( RB later ) ) ( NP-SBJ-1 ( PRP we ) ) ( VP ( VBP have ) ( S ( VP ( TO to ) ( VP ( VB do ) ( NP ( NN something ) ) ( PP ( IN about ) ( NP ( PRP it ) ) ) ) ) ) ) )

And sooner or later we have to do something about it


( S ( NP-SBJ-1 ( DT The ) ( NN urgency ) ) ( VP ( VBZ is ) ( VP ( VBN heightened ) ( SBAR-PRP ( RB because ) ( S ( NP-SBJ ( NP ( DT this ) ( NN week ) ( POS 's ) ) ( NN earthquake ) ) ( SBAR-ADV ( IN while ) ( S ( UCP-PRD ( ADJP-PRD ( JJ major ) ) ( CC and ) ( VP ( VBN followed ) ( PP ( IN by ) ( NP-LGS ( NP ( NNS hundreds ) ) ( PP ( IN of ) ( NP ( NNS aftershocks ) ) ) ) ) ) ) ) ) ( VP ( VBD did ) ( RB n't ) ( VP ( VB release ) ( NP ( NP ( JJ enough ) ( JJ pent-up ) ( NN energy ) ( NN tension ) ) ( PP-LOC ( IN along ) ( NP ( DT the ) ( NNS faultlines ) ) ) ( S-2 ( VP ( TO to ) ( VP ( VB preclude ) ( NP ( NP ( ADJP ( JJR more ) ( CC and ) ( JJR bigger ) ) ( NNS quakes ) ) ( ADVP-TMP ( RB soon ) ) ) ) ) ) ) ) ) ) ) ) ) )

The urgency is heightened because this week 's earthquake while major and followed by hundreds of aftershocks did n't release enough pent-up energy tension along the faultlines to preclude more and bigger quakes soon


( S ( S-TPC-1 ( NP-SBJ ( DT The ) ( JJ big ) ( CD one ) ) ( VP ( VBZ is ) ( ADVP-TMP ( RB still ) ) ( ADJP-PRD ( JJ due ) ) ) ) ( NP-SBJ ( NNP Mr. ) ( NNP Johnson ) ) ( VP ( VBD predicted ) ( PP-LOC ( IN in ) ( NP ( DT an ) ( NN interview ) ) ) ) )

The big one is still due Mr. Johnson predicted in an interview


( S ( NP-SBJ ( DT The ) ( NNP Bay ) ( NNP Area ) ) ( VP ( VBZ has ) ( NP ( NP ( CD three ) ( ADJP ( RB very ) ( JJ dangerous ) ) ( NNS faults ) ) ( NP ( NP ( DT the ) ( NNP San ) ( NNP Andreas ) ) ( NP ( DT the ) ( NNP Hayward ) ( NN fault ) ) ( CC and ) ( NP ( DT the ) ( NNS Calaveras ) ( NN fault ) ) ) ) ) )

The Bay Area has three very dangerous faults the San Andreas the Hayward fault and the Calaveras fault


( S ( NP-SBJ ( NP ( PRP It ) ) ( PRN ( NP ( NP ( NNP Tuesday ) ( POS 's ) ) ( NN quake ) ) ) ) ( VP ( VBZ has ) ( RB n't ) ( VP ( VBD solved ) ( NP ( PRP$ our ) ( NN problem ) ) ) ) )

It Tuesday 's quake has n't solved our problem


( S ( PP-LOC ( IN In ) ( NP ( NNP California ) ) ) ( NP-SBJ ( DT this ) ) ( VP ( VBZ is ) ( NP-PRD ( DT the ) ( NN reality ) ) ) )

In California this is the reality


( S ( NP-SBJ-1 ( NP ( NNP Britain ) ( POS 's ) ) ( NNP Monopolies ) ( CC and ) ( NNP Mergers ) ( NNP Commission ) ) ( NP-TMP ( NNP Wednesday ) ) ( VP ( VBD cleared ) ( NP ( NP ( NP ( NNP Rhone-Poulenc ) ( NNP S.A. ) ( POS 's ) ) ( NN purchase ) ) ( PP ( IN of ) ( NP ( DT a ) ( NN specialty ) ( NN bulk-chemical ) ( NN unit ) ) ) ( PP ( IN from ) ( NP ( NNP Monsanto ) ( NNP Co. ) ) ) ) ( S-ADV ( VP ( VBG saying ) ( SBAR ( S ( NP-SBJ-2 ( DT the ) ( NN purchase ) ) ( VP ( VBD was ) ( ADJP-PRD ( JJ unlikely ) ( S ( VP ( TO to ) ( VP ( VB have ) ( NP ( NP ( DT any ) ( JJ lasting ) ( NN impact ) ) ( PP-LOC ( IN on ) ( NP ( NNP U.K. ) ( JJ industrial ) ( NNS consumers ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Britain 's Monopolies and Mergers Commission Wednesday cleared Rhone-Poulenc S.A. 's purchase of a specialty bulk-chemical unit from Monsanto Co. saying the purchase was unlikely to have any lasting impact on U.K. industrial consumers


( S ( NP-SBJ ( NP ( DT The ) ( NN commission ) ) ( SBAR ( WHNP-1 ( WDT which ) ) ( S ( VP ( VBD was ) ( VP ( VBN asked ) ( S ( VP ( TO to ) ( VP ( VB study ) ( NP ( DT the ) ( NN deal ) ) ) ) ) ( PP-LGS ( IN by ) ( NP ( NP ( DT the ) ( NNP Department ) ) ( PP ( IN of ) ( NP ( NNP Trade ) ( CC and ) ( NNP Industry ) ) ) ) ) ( PP-TMP ( IN after ) ( NP ( NP ( PRP$ its ) ( NN announcement ) ) ( PP-TMP ( IN in ) ( NP ( NNP February ) ) ) ) ) ) ) ) ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( NP ( DT the ) ( NN diversity ) ) ( PP ( IN of ) ( NP ( NP ( JJ global ) ( NN supply ) ) ( PP ( IN of ) ( NP ( NP ( NNS chemicals ) ) ( VP ( VBN used ) ( PP-LOC-CLR ( IN in ) ( S-NOM ( VP ( VBG making ) ( NP ( JJ analgesic ) ( NNS drugs ) ) ) ) ) ) ) ) ) ) ) ( VP ( VBD was ) ( ADJP-PRD ( JJ great ) ( RB enough ) ( S ( VP ( TO to ) ( VP ( VB offset ) ( NP ( NP ( DT the ) ( JJ dominant ) ( NNP U.K. ) ( NN market ) ( NN share ) ) ( SBAR ( S ( NP-SBJ ( NNP Rhone-Poulenc ) ) ( VP ( MD would ) ( VP ( VB gain ) ( PP ( IN through ) ( NP ( DT the ) ( NN acquisition ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

The commission which was asked to study the deal by the Department of Trade and Industry after its announcement in February said the diversity of global supply of chemicals used in making analgesic drugs was great enough to offset the dominant U.K. market share Rhone-Poulenc would gain through the acquisition


( S ( NP-SBJ ( DT The ) ( NNP French ) ( NN chemical ) ( NN giant ) ) ( VP ( MD would ) ( VP ( VB hold ) ( NP ( NP ( DT an ) ( ADJP ( CD 80 ) ( NN % ) ) ( NN share ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( NNP U.K. ) ( NN market ) ) ( PP ( IN for ) ( NP ( NP ( JJ salicylic ) ( NN acid ) ) ( NP ( NN methyl ) ( NN salicylate ) ) ( CC and ) ( NP ( JJ bulk ) ( NN aspirin ) ) ) ) ) ) ) ) ) )

The French chemical giant would hold an 80 % share of the U.K. market for salicylic acid methyl salicylate and bulk aspirin


( S ( NP-SBJ ( DT The ) ( NN commission ) ) ( VP ( VBD found ) ( SBAR ( IN that ) ( S ( SBAR-ADV ( IN if ) ( S ( NP-SBJ-2 ( DT the ) ( JJ British ) ( NN government ) ) ( VP ( VBD attempted ) ( S ( VP ( TO to ) ( VP ( VB block ) ( NP ( DT the ) ( NN merger ) ) ) ) ) ) ) ) ( NP-SBJ-3 ( NNP Rhone-Poulenc ) ) ( VP ( MD would ) ( ADVP ( RB likely ) ) ( VP ( VB respond ) ( PP-MNR ( IN by ) ( S-NOM ( VP ( VBG closing ) ( NP ( NP ( DT the ) ( NNS salicylates ) ( NN plant ) ) ( SBAR ( S ( NP-SBJ ( NNP Monsanto ) ) ( VP ( VBZ operates ) ) ) ) ( PP-LOC ( IN in ) ( NP ( NNP Wales ) ) ) ) ) ) ) ( S-ADV ( VP ( VBG removing ) ( NP ( DT the ) ( NN matter ) ) ( PP-DIR ( IN from ) ( NP ( NNP U.K. ) ( NN jurisdiction ) ) ) ) ) ) ) ) ) ) )

The commission found that if the British government attempted to block the merger Rhone-Poulenc would likely respond by closing the salicylates plant Monsanto operates in Wales removing the matter from U.K. jurisdiction


( S ( NP-SBJ ( NP ( NP ( NN Economist ) ( NNP David ) ( NNP N. ) ( NNP Laband ) ( POS 's ) ) ( NNP Sept. ) ( CD 27 ) ( NN editorial-page ) ( NN article ) ) ( FRAG-TTL ( PP-LOC ( IN In ) ( NP ( NP ( NNP Hugo ) ( POS 's ) ) ( NN Path ) ) ) ( NP ( DT a ) ( JJ Man-Made ) ( NN Disaster ) ) ) ) ( VP ( VBZ decries ) ( NP ( NP ( DT the ) ( NN control ) ) ( PP ( IN of ) ( NP ( NN price ) ( NN gouging ) ) ) ( VP ( ADVP-MNR ( RB swiftly ) ) ( VBN ordered ) ( PP ( IN by ) ( NP-LGS ( NP ( NNP South ) ( NNP Carolina ) ( POS 's ) ) ( NN governor ) ) ) ( PP-TMP ( IN after ) ( NP ( NNP Hurricane ) ( NNP Hugo ) ) ) ) ) ) )

Economist David N. Laband 's Sept. 27 editorial-page article In Hugo 's Path a Man-Made Disaster decries the control of price gouging swiftly ordered by South Carolina 's governor after Hurricane Hugo


( S ( PP ( VBG According ) ( PP ( TO to ) ( NP ( NNP Mr. ) ( NNP Laband ) ) ) ) ( S-NOM-SBJ ( VP ( VBG screaming ) ( PP-CLR ( IN for ) ( NP ( NN price ) ( NNS controls ) ) ) ) ) ( VP ( VBZ occurs ) ( SBAR-TMP ( WHADVP-1 ( WRB when ) ) ( S ( NP-SBJ-2 ( NN income ) ( NN redistribution ) ) ( VP ( VBZ threatens ) ( S ( VP ( TO to ) ( VP ( VB hit ) ( NP ( NN home ) ) ) ) ) ) ) ) ) )

According to Mr. Laband screaming for price controls occurs when income redistribution threatens to hit home


( S ( S-ADV ( VP ( TO To ) ( VP ( VB be ) ( ADJP-PRD ( JJ sure ) ) ) ) ) ( NP-SBJ ( DT the ) ( NN threat ) ) ( VP ( VBZ has ) ( VP ( VBN hit ) ( NP ( NN home ) ) ( ADVP-LOC ( IN down ) ( RB here ) ) ) ) )

To be sure the threat has hit home down here


( S ( CC Yet ) ( PP-LOC ( IN in ) ( NP ( NP ( NP ( NNP Mr. ) ( NNP Laband ) ( POS 's ) ) ( NN rehash ) ) ( PP ( IN of ) ( NP ( JJ free-market ) ( NN logic ) ) ) ) ) ( NP-SBJ ( NP ( JJ human ) ( NN greed ) ) ( CC and ) ( NP ( NN self-interest ) ) ) ( VP ( VBP are ) ( NP-PRD ( DT the ) ( JJ only ) ( JJ permissible ) ( JJ psychological ) ( NNS reactions ) ) ) )

Yet in Mr. Laband 's rehash of free-market logic human greed and self-interest are the only permissible psychological reactions


( S ( S-NOM-SBJ ( VP ( VBG Allowing ) ( NP ( NP ( JJ uncontrolled ) ( NNS prices ) ) ( PP ( IN for ) ( NP ( NNS necessities ) ) ) ) ) ) ( VP ( MD would ) ( ADVP ( RB indeed ) ) ( VP ( VB shorten ) ( NP ( NP ( DT the ) ( NNS lines ) ) ( PP-LOC ( IN at ) ( NP ( NNS stores ) ) ) ) ( SBAR-ADV ( IN as ) ( S ( NP-SBJ ( PRP he ) ) ( VP ( VBZ contends ) ) ) ) ) ) )

Allowing uncontrolled prices for necessities would indeed shorten the lines at stores as he contends


( FRAG ( CC But ) ( RB not ) ( SBAR-PRP ( IN because ) ( S ( NP-SBJ ( NNS resources ) ) ( VP ( VBP are ) ( VP ( VBG going ) ( PP-DIR ( TO to ) ( NP ( PRP$ their ) ( ADJP ( RBS most ) ( JJ efficient ) ) ( NN use ) ) ) ( S-ADV ( VP ( VBG leaving ) ( S ( NP-SBJ-2 ( JJ scarce ) ( NNS goods ) ) ( VP ( VBN allocated ) ( PP-CLR ( TO to ) ( NP ( NP ( DT those ) ( NNS buyers ) ) ( SBAR ( WHNP-1 ( WP who ) ) ( S ( VP ( VBP place ) ( NP ( DT the ) ( JJS highest ) ( NN value ) ) ( PP-CLR ( IN on ) ( NP ( PRP them ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

But not because resources are going to their most efficient use leaving scarce goods allocated to those buyers who place the highest value on them


( S ( ADVP ( RB Rather ) ) ( NP-SBJ ( NNS lines ) ) ( VP ( MD would ) ( VP ( VB diminish ) ( SBAR-PRP ( RB because ) ( S ( PP ( IN at ) ( NP ( JJR higher ) ( NNS prices ) ) ) ( NP-SBJ ( JJ many ) ( NNS victims ) ) ( VP ( MD could ) ( RB not ) ( VP ( VB afford ) ( NP ( NP ( NNS necessities ) ) ( PP ( JJ such ) ( IN as ) ( NP ( NP ( NN food ) ) ( CC and ) ( NP ( JJ medical ) ( NNS supplies ) ) ) ) ) ) ) ) ) ) ) )

Rather lines would diminish because at higher prices many victims could not afford necessities such as food and medical supplies


( S ( NP-SBJ ( NP ( PRP It ) ) ) ( VP ( VBZ is ) ( ADJP-PRD ( JJ inhumane ) ) ( S-1 ( VP ( TO to ) ( VP ( VB imply ) ( SBAR ( IN that ) ( S ( NP-SBJ ( DT a ) ( JJ poor ) ( JJ unemployed ) ( NN woman ) ) ( VP ( MD can ) ( RB not ) ( VP ( VB receive ) ( NP ( NP ( JJ immediate ) ( NN relief ) ) ( PP ( IN for ) ( NP ( PRP$ her ) ( NN family ) ) ) ) ( PP ( IN at ) ( NP ( JJ fair ) ( NNS prices ) ) ) ( SBAR-PRP ( IN because ) ( S ( NP-SBJ ( PRP she ) ) ( VP ( VBZ does ) ( RB not ) ( VP ( VB have ) ( NP ( NP ( RB as ) ( JJ much ) ) ( SBAR ( S ( VP ( TO to ) ( VP ( VB protect ) ) ) ) ) ( PP ( IN as ) ( NP ( DT a ) ( JJ rich ) ( NN family ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

It is inhumane to imply that a poor unemployed woman can not receive immediate relief for her family at fair prices because she does not have as much to protect as a rich family


( S ( ADVP ( RB Moreover ) ) ( NP-SBJ-1 ( NP ( JJ essential ) ( NN relief ) ( NNS supplies ) ) ( PP ( JJ such ) ( IN as ) ( NP ( NN ice ) ) ) ) ( VP ( MD must ) ( VP ( VB be ) ( VP ( VBN distributed ) ( PP-LOC-CLR ( IN throughout ) ( NP ( DT the ) ( NN population ) ) ) ( PP-PRP ( IN because ) ( IN of ) ( NP ( NP ( NP ( JJ potential ) ( NN health ) ( NNS problems ) ) ( PP ( IN from ) ( NP ( JJ spoiled ) ( NN food ) ) ) ) ( CC and ) ( NP ( NP ( JJ possible ) ( NN outbreak ) ) ( PP ( IN of ) ( NP ( NN disease ) ) ) ) ) ) ) ) ) )

Moreover essential relief supplies such as ice must be distributed throughout the population because of potential health problems from spoiled food and possible outbreak of disease


( S ( NP-SBJ ( JJ Such ) ( NN spillover ) ( NNS effects ) ) ( VP ( VBP give ) ( NP ( DT the ) ( NN state ) ) ( NP ( DT a ) ( NN right ) ( S ( VP ( TO to ) ( VP ( VP ( VB intervene ) ( PP-LOC-CLR ( IN in ) ( NP ( DT the ) ( NN marketplace ) ) ) ) ( CC and ) ( VP ( ADVP-TMP ( RB temporarily ) ) ( VB coordinate ) ( NP ( NP ( NN allocation ) ) ( PP ( IN of ) ( NP ( NNS resources ) ) ) ) ) ) ) ) ) ) )

Such spillover effects give the state a right to intervene in the marketplace and temporarily coordinate allocation of resources


( S ( ADVP ( RB Fortunately ) ) ( NP-SBJ-1 ( NNS volunteers ) ( CC and ) ( NNS charities ) ) ( VP ( VBP are ) ( RB not ) ( VP ( VBN motivated ) ( PP ( PP ( IN by ) ( NP-LGS ( NN self-interest ) ) ) ( CC but ) ( PP ( IN by ) ( NP-LGS ( NN altruism ) ) ) ) ) ) )

Fortunately volunteers and charities are not motivated by self-interest but by altruism


( SBARQ ( WHADVP-2 ( WRB Why ) ) ( SQ ( MD should ) ( NP-SBJ-1 ( PRP they ) ) ( VP ( VBP have ) ( S ( VP ( TO to ) ( VP ( VB co-exist ) ( PP-CLR ( IN with ) ( NP ( NP ( NNS opportunists ) ) ( VP ( VBG rushing ) ( ADVP-DIR ( RB in ) ) ( S-PRP ( VP ( TO to ) ( VP ( VB turn ) ( NP ( DT a ) ( JJ quick ) ( NN profit ) ) ) ) ) ) ) ) ) ) ) ) ) )

Why should they have to co-exist with opportunists rushing in to turn a quick profit


( S ( NP-SBJ-1 ( DT These ) ( JJ latter-day ) ( NNS scalawags ) ) ( VP ( MD would ) ( VP ( VB be ) ( ADJP-PRD ( JJ ill-advised ) ( S ( VP ( TO to ) ( VP ( VB take ) ( NP-CLR ( NN advantage ) ) ( PP-CLR ( IN of ) ( NP ( DT the ) ( NN situation ) ) ) ) ) ) ) ( SBAR-ADV ( IN if ) ( S ( NP-SBJ-2 ( PRP they ) ) ( ADVP-TMP ( RB ever ) ) ( VP ( VBP expect ) ( S ( VP ( TO to ) ( VP ( VB face ) ( NP ( NP ( DT the ) ( NNS people ) ) ( PP ( IN of ) ( NP ( NNP South ) ( NNP Carolina ) ) ) ) ( ADVP-TMP ( RB again ) ) ) ) ) ) ) ) ) ) )

These latter-day scalawags would be ill-advised to take advantage of the situation if they ever expect to face the people of South Carolina again


( S ( NP-SBJ ( DT The ) ( NN government ) ) ( VP ( VBZ is ) ( ADVP ( RB actually ) ) ( VP ( VBG protecting ) ( NP ( NP ( NP ( JJ avaricious ) ( NNS ice-baggers ) ) ( CC and ) ( NP ( JJ other ) ( NNS profiteers ) ) ) ( SBAR ( WHNP-1 ( WP who ) ) ( S ( VP ( MD can ) ( RB not ) ( VP ( VB see ) ( PP-CLR ( IN beyond ) ( NP ( PRP$ their ) ( JJ own ) ( JJ short-term ) ( NN gain ) ) ) ) ) ) ) ) ) ) )

The government is actually protecting avaricious ice-baggers and other profiteers who can not see beyond their own short-term gain


( S ( NP-SBJ ( NNP South ) ( NNP Carolina ) ) ( VP ( VBZ deserves ) ( NP ( DT an ) ( NN A ) ) ( PP-PRP ( IN for ) ( NP ( PRP$ its ) ( ADJP ( JJ quick ) ( CC and ) ( JJ timely ) ) ( NN relief ) ( NNS efforts ) ) ) ) )

South Carolina deserves an A for its quick and timely relief efforts


( S ( NP-SBJ ( NNP Mr. ) ( NNP Laband ) ) ( ADVP-TMP ( RB meanwhile ) ) ( VP ( VBZ gets ) ( NP ( DT an ) ( NN A ) ) ( PP-PRP ( IN for ) ( NP ( NP ( PRP$ his ) ( JJ rote ) ( NN recital ) ) ( PP ( IN of ) ( NP ( NN economic-efficiency ) ( NNS arguments ) ) ) ) ) ) )

Mr. Laband meanwhile gets an A for his rote recital of economic-efficiency arguments


( S ( VP ( VB Give ) ( NP ( PRP him ) ) ( NP ( DT an ) ( NN F ) ) ( PP-PRP ( IN for ) ( NP ( PRP$ his ) ( NN failure ) ( S ( VP ( TO to ) ( VP ( VB understand ) ( NP ( NP ( DT the ) ( NNS ethics ) ) ( PP ( IN of ) ( NP ( JJ economic ) ( NN equity ) ) ) ) ) ) ) ) ) ) )

Give him an F for his failure to understand the ethics of economic equity


( S ( VP ( VBN Signed ) ( PP ( IN by ) ( NP-LGS ( CD 25 ) ( NNS students ) ) ) ) )

Signed by 25 students


( FRAG ( PP ( IN Of ) ( NP ( NP ( NNP Douglas ) ( NNP Woodward ) ( POS 's ) ) ( NNP Honors ) ( NNP Economics ) ( NNP Class ) ) ) )

Of Douglas Woodward 's Honors Economics Class


( NP-LOC ( NP ( NNP University ) ) ( PP ( IN of ) ( NP ( NNP South ) ( NNP Carolina ) ) ) )

University of South Carolina


( NP-LOC ( NP ( NNP Columbia ) ) ( NP ( NNP S.C ) ) )

Columbia S.C


( S ( NP-SBJ ( NNP Mr. ) ( NNP Laband ) ) ( VP ( VBZ gives ) ( NP ( PRP us ) ) ( NP ( NP ( DT an ) ( NN idea ) ) ( SBAR ( WHADVP-1 ( WRB why ) ) ( S ( NP-SBJ ( NP ( NNS economists ) ( POS ' ) ) ( NNS predictions ) ) ( VP ( VBP are ) ( ADVP-TMP ( RB usually ) ) ( ADJP-PRD ( JJ wrong ) ) ) ) ) ) ) )

Mr. Laband gives us an idea why economists ' predictions are usually wrong


( S ( NP-SBJ-1 ( PRP They ) ) ( VP ( VP ( VBP set ) ( PRT ( RP up ) ) ( NP ( NP ( JJ absurd ) ( NNS situations ) ) ( VP ( VBN detached ) ( PP-CLR ( IN from ) ( NP ( NN reality ) ) ) ) ) ) ( CC and ) ( RB then ) ( VP ( VB try ) ( S ( VP ( TO to ) ( VP ( VB reason ) ( PP-CLR ( IN from ) ( NP ( PRP them ) ) ) ) ) ) ) ) )

They set up absurd situations detached from reality and then try to reason from them


( S ( NP-SBJ ( PRP I ) ) ( VP ( VBP 'm ) ( ADJP-PRD ( JJ surprised ) ( SBAR ( S ( NP-SBJ-2 ( PRP he ) ) ( VP ( VBD did ) ( RB n't ) ( VP ( NN advocate ) ( S ( VP ( VBG letting ) ( S ( NP-SBJ ( NNS people ) ) ( VP ( VB loot ) ) ) ( SBAR-PRP ( IN since ) ( S ( S ( NP-SBJ-1 ( DT that ) ( NN behavior ) ) ( VP ( MD can ) ( ADVP ( RB also ) ) ( VP ( VB be ) ( VP ( VBN foreseen ) ( PP-LOC ( IN in ) ( NP ( DT a ) ( NN disaster ) ) ) ) ) ) ) ( CC and ) ( S ( NP-SBJ ( DT every ) ( NN individual ) ) ( VP ( VBZ has ) ( NP ( DT an ) ( NN incentive ) ( S ( VP ( TO to ) ( VP ( VB alter ) ( NP ( NP ( DT the ) ( NN distribution ) ) ( PP ( IN of ) ( NP ( NN income ) ) ) ) ( PP-MNR ( IN in ) ( NP ( PRP$ his ) ( NN favor ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

I 'm surprised he did n't advocate letting people loot since that behavior can also be foreseen in a disaster and every individual has an incentive to alter the distribution of income in his favor


( S ( NP-SBJ-1 ( NN Price ) ( NNS controls ) ) ( VP ( VBD were ) ( VP ( ADVP-MNR ( RB so ) ( RB fervently ) ) ( VBN embraced ) ( PP ( IN by ) ( NP-LGS ( NNP Charleston ) ) ) ( SBAR-PRP ( IN because ) ( S ( NP-SBJ ( NN price ) ( NN gouging ) ) ( PP-LOC ( IN in ) ( NP ( DT this ) ( NN situation ) ) ) ( VP ( VBZ is ) ( ADJP-PRD ( JJ equivalent ) ( PP ( TO to ) ( NP ( VBG looting ) ) ) ) ) ) ) ) ) )

Price controls were so fervently embraced by Charleston because price gouging in this situation is equivalent to looting


Suzanne Foster


( NP-LOC ( NP ( NNP Galax ) ) ( NP ( NNP Va ) ) )

Galax Va


( S ( NP-SBJ ( NNP Mr. ) ( NNP Laband ) ) ( VP ( VBD described ) ( NP ( NP ( NP ( CD one ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( ADJP ( RBR more ) ( JJ insidious ) ) ( NNS threats ) ) ( SBAR ( S ( NP-SBJ-3 ( PRP we ) ) ( VP ( VBP face ) ( SBAR-TMP ( WHADVP-2 ( WRB when ) ) ( S ( VP ( VBG dealing ) ( PP-CLR ( IN with ) ( NP ( NP ( NNS disasters ) ) ( PP ( JJ such ) ( IN as ) ( NP ( NNP Hugo ) ) ) ) ) ) ) ) ) ) ) ) ) ) ( NP ( NP ( JJ anti-profiteering ) ( NNS ordinances ) ) ( PP ( JJ such ) ( IN as ) ( NP ( NP ( DT that ) ) ( PP ( IN by ) ( NP ( DT the ) ( NNP Charleston ) ( NNP City ) ( NNP Council ) ) ) ( SBAR-TMP ( IN as ) ( S ( NP-SBJ-4 ( PRP it ) ) ( VP ( VBD thrashed ) ( ADVP-CLR ( RB about ) ) ( S-ADV ( VP ( VBG trying ) ( S ( VP ( TO to ) ( VP ( VB Do ) ( NP ( NN Something ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Mr. Laband described one of the more insidious threats we face when dealing with disasters such as Hugo anti-profiteering ordinances such as that by the Charleston City Council as it thrashed about trying to Do Something


( S ( SBAR ( IN Since ) ( S ( NP-SBJ ( PRP he ) ) ( VP ( VBD concentrated ) ( PP-CLR ( IN on ) ( NP ( NP ( DT the ) ( JJ economic ) ( NN folly ) ) ( PP ( IN of ) ( NP ( JJ such ) ( NNS ordinances ) ) ) ) ) ) ) ) ( NP-SBJ ( PRP he ) ) ( VP ( VBD did ) ( RB n't ) ( VP ( VB mention ) ( NP ( NP ( JJ certain ) ( JJ other ) ) ( PP ( IN of ) ( NP ( PRP$ their ) ( NNS effects ) ) ) ) ) ) )

Since he concentrated on the economic folly of such ordinances he did n't mention certain other of their effects


( S ( NP-SBJ ( PRP They ) ) ( VP ( VBP divert ) ( NP ( NN law-enforcement ) ( NNS resources ) ) ( PP-TMP ( IN at ) ( NP ( NP ( DT a ) ( NN time ) ) ( SBAR ( S ( NP-SBJ-1 ( PRP they ) ) ( VP ( VBP are ) ( VP ( ADVP ( RBS most ) ) ( VBN needed ) ( PP-PRP ( IN for ) ( S-NOM ( VP ( VBG protecting ) ( NP ( NNS lives ) ( CC and ) ( NN property ) ) ) ) ) ) ) ) ) ) ) ) )

They divert law-enforcement resources at a time they are most needed for protecting lives and property


( S ( ADVP ( RB Also ) ) ( SBAR-ADV ( RB rather ) ( IN than ) ( S ( VP ( VB increase ) ( NP ( NNS supplies ) ) ) ) ) ( NP-SBJ-1 ( PRP they ) ) ( VP ( VP ( VBP reduce ) ( NP ( PRP them ) ) ) ( CC and ) ( VP ( VBP encourage ) ( NP ( NN hoarding ) ) ) ) )

Also rather than increase supplies they reduce them and encourage hoarding


( S ( CC And ) ( NP-SBJ ( NP ( PRP they ) ) ( CC or ) ( RB even ) ( NP ( NP ( DT the ) ( NN prospect ) ) ( PP ( IN of ) ( NP ( PRP them ) ) ) ) ) ( VP ( VBP discourage ) ( NP ( NP ( NN disaster ) ( NN preparedness ) ) ( PP ( IN in ) ( NP ( NP ( DT the ) ( NN form ) ) ( PP ( IN of ) ( NP ( NP ( JJ speculative ) ( NN advance ) ( NN stocking ) ) ( PP ( IN of ) ( NP ( NNS supplies ) ) ) ( PP ( IN by ) ( NP ( NNS merchants ) ) ) ) ) ) ) ) ) )

And they or even the prospect of them discourage disaster preparedness in the form of speculative advance stocking of supplies by merchants


( NP ( NNP N. ) ( NNP Joseph ) ( NNP Potts ) )

N. Joseph Potts


( NP-LOC ( NP ( NNP Miami ) ( NNP Lakes ) ) ( NP ( NNP Fla ) ) )

Miami Lakes Fla


( SQ ( MD Would ) ( NP-SBJ ( NNP Mr. ) ( NNP Laband ) ) ( ADVP ( RB also ) ) ( VP ( VB suggest ) ( SBAR ( IN that ) ( S ( NP-SBJ ( DT the ) ( NX ( NX ( NNP Red ) ( NNP Cross ) ) ( NX ( NNP Salvation ) ( NNP Army ) ) ( NX ( JJ military ) ( NNS units ) ) ( NX ( NNS police ) ) ( NX ( NN fire ) ( NNS departments ) ) ( NX ( NN rescue ) ( NNS units ) ) ( CC and ) ( NX ( JJ individual ) ( NNS citizens ) ) ) ) ( VP ( VB cease ) ( NP ( PRP$ their ) ( NNS efforts ) ( S ( VP ( TO to ) ( VP ( VB assist ) ( NP ( NP ( NNP Hugo ) ( POS 's ) ) ( NNS victims ) ) ) ) ) ) ( SBAR-PRP ( IN because ) ( S ( NP-SBJ ( PRP they ) ) ( VP ( VBP interfere ) ( PP-CLR ( IN with ) ( NP ( NP ( PRP$ his ) ( NN concept ) ) ( PP ( IN of ) ( NP ( DT the ) ( JJ free ) ( NN market ) ) ) ) ) ) ) ) ) ) ) ) )

Would Mr. Laband also suggest that the Red Cross Salvation Army military units police fire departments rescue units and individual citizens cease their efforts to assist Hugo 's victims because they interfere with his concept of the free market


( SBAR ( WP What ) ( IN about ) ( NP ( NP ( DT those ) ( JJ caring ) ( NNS people ) ) ( PP-LOC ( RB all ) ( IN over ) ( NP ( DT the ) ( NN country ) ) ) ( SBAR ( WHNP-1 ( WP who ) ) ( S ( VP ( VBP are ) ( VP ( VBG donating ) ( NP ( NP ( NN food ) ) ( NP ( NN water ) ) ( CC and ) ( NP ( NP ( JJ other ) ( NNS necessities ) ) ( PP ( IN of ) ( NP ( NN life ) ) ) ) ) ( PP-CLR ( TO to ) ( NP ( NP ( DT these ) ( NNS people ) ) ( SBAR ( WHNP-2 ( WP who ) ) ( S ( VP ( MD could ) ( VP ( VB be ) ( NP-PRD ( NP ( DT any ) ) ( PP ( IN of ) ( NP ( PRP us ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

What about those caring people all over the country who are donating food water and other necessities of life to these people who could be any of us


( SQ ( MD Should ) ( NP-SBJ-1 ( PRP they ) ) ( ADVP ( RB too ) ) ( VP ( VB stop ) ( S ( VP ( VBG messing ) ( PP-CLR ( IN with ) ( NP ( PRP$ his ) ( JJ free ) ( NN market ) ) ) ) ) ) )

Should they too stop messing with his free market


( S ( ADVP ( RB Maybe ) ) ( NP-SBJ ( PRP he ) ) ( VP ( VBZ thinks ) ( SBAR ( S ( NP-SBJ ( PRP they ) ) ( VP ( MD should ) ( ADVP ( RB also ) ) ( VP ( VB sell ) ( PP-CLR ( TO to ) ( NP ( DT the ) ( JJS highest ) ( NN bidder ) ) ) ) ) ) ) ) )

Maybe he thinks they should also sell to the highest bidder


( FRAG ( CC And ) ( SBAR ( WP what ) ( IN about ) ( NP ( NN insurance ) ( NNS firms ) ) ) )

And what about insurance firms


( SQ ( MD Should ) ( NP-SBJ-1 ( PRP they ) ) ( VP ( VB be ) ( VP ( VBN required ) ( S ( VP ( TO to ) ( VP ( VB pay ) ( NP ( NP ( NNS claims ) ) ( PP ( VBN based ) ( PP ( IN on ) ( NP ( NP ( JJ exorbitant ) ( NNS costs ) ) ( PP ( IN for ) ( NP ( NN labor ) ( CC and ) ( NNS materials ) ) ) ) ) ) ) ) ) ) ) ) )

Should they be required to pay claims based on exorbitant costs for labor and materials


( S ( NP-SBJ ( NNP Mr. ) ( NNP Laband ) ) ( VP ( MD should ) ( VP ( VB beware ) ( SBAR-PRP ( IN since ) ( S ( NP-SBJ ( PRP he ) ) ( VP ( VBZ lives ) ( PP-LOC-CLR ( IN in ) ( NP ( NNP South ) ( NNP Carolina ) ) ) ) ) ) ) ) )

Mr. Laband should beware since he lives in South Carolina


( S ( PP-LOC ( IN In ) ( NP ( DT a ) ( JJ free ) ( NN market ) ) ) ( NP-SBJ-1 ( PRP$ his ) ( NN insurance ) ( NNS rates ) ) ( VP ( MD can ) ( VP ( VB be ) ( VP ( VBN raised ) ( S-PRP ( VP ( TO to ) ( VP ( VB recover ) ( NP ( NN insurance-company ) ( NNS losses ) ) ) ) ) ) ) ) )

In a free market his insurance rates can be raised to recover insurance-company losses


( NP ( NNP John ) ( NNP W. ) ( NNP Rush ) )

John W. Rush


( NP-LOC ( NP ( NNP Marietta ) ) ( NP ( NNP Ga ) ) )

Marietta Ga


( S ( S-ADV ( VP ( VBG Having ) ( VP ( VBN been ) ( PP-PRD ( IN through ) ( NP ( JJ several ) ( NNS tornadoes ) ( CC and ) ( NNS hurricanes ) ) ) ) ) ) ( NP-SBJ-1 ( PRP I ) ) ( VP ( VBP have ) ( NP ( DT a ) ( JJ different ) ( NN perspective ) ) ) )

Having been through several tornadoes and hurricanes I have a different perspective


( S ( NP-SBJ ( PRP Mine ) ) ( VP ( VBZ comes ) ( PP-DIR ( IN from ) ( S-NOM ( VP ( VBG seeing ) ( S ( S ( NP-SBJ-1 ( JJ thriving ) ( NNS communities ) ) ( VP ( VBN devastated ) ) ) ( CC but ) ( FRAG ( ADVP-TMP ( RB only ) ( RB temporarily ) ) ) ) ) ) ) ) )

Mine comes from seeing thriving communities devastated but only temporarily


( S ( NP-SBJ ( PRP$ Their ) ( NN recovery ) ) ( VP ( VBD came ) ( UCP ( ADVP-MNR ( RB surprisingly ) ( RB fast ) ) ( CC and ) ( ADVP-TMP ( RB always ) ) ( PP ( IN with ) ( NP ( NP ( DT the ) ( NN help ) ) ( PP ( IN of ) ( NP ( NNS neighbors ) ) ) ) ) ) ) )

Their recovery came surprisingly fast and always with the help of neighbors


( S ( NP-SBJ ( NP ( DT The ) ( NN shock ) ) ( PP ( IN of ) ( S-NOM ( VP ( VBG seeing ) ( S ( S ( NP-SBJ-1 ( NNS homes ) ) ( VP ( VBN destroyed ) ) ) ( CC and ) ( S ( NP-SBJ-2 ( NN city ) ( NNS services ) ) ( VP ( VBN disrupted ) ) ) ) ) ) ) ) ( VP ( MD may ) ( VP ( VB cause ) ( S ( NP-SBJ ( DT some ) ) ( VP ( TO to ) ( VP ( VB confuse ) ( NP ( NP ( NNS priorities ) ) ( PP ( JJ such ) ( IN as ) ( NP ( NP ( DT the ) ( JJ true ) ( JJ economic ) ( NN value ) ) ( PP ( IN of ) ( NP ( NP ( DT a ) ( NN freezer ) ) ( ADJP ( JJ full ) ( PP ( IN of ) ( NP ( NN meat ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

The shock of seeing homes destroyed and city services disrupted may cause some to confuse priorities such as the true economic value of a freezer full of meat


( S ( PP-LOC ( IN In ) ( NP ( NNP Texas ) ) ) ( PP-TMP ( IN after ) ( NP ( NNP Hurricane ) ( NNP Alicia ) ) ) ( NP-SBJ-1 ( JJ major ) ( NN grocery ) ( NNS chains ) ) ( VP ( VBD used ) ( NP ( PRP$ their ) ( NN truck ) ( NNS fleets ) ) ( S-CLR ( VP ( TO to ) ( VP ( VB ship ) ( NP ( JJ essential ) ( NNS goods ) ) ( PP-DIR ( TO to ) ( NP ( NNP Houston ) ) ) ( NP-ADV ( NP ( DT no ) ( NN gouging ) ) ( RB just ) ( NP ( JJ good ) ( NN will ) ) ) ) ) ) ) )

In Texas after Hurricane Alicia major grocery chains used their truck fleets to ship essential goods to Houston no gouging just good will


Tom Mongan


( NP-LOC ( NP ( NNP Victoria ) ) ( NP ( NNP Texas ) ) )

Victoria Texas


( S ( NP-SBJ-1 ( PRP We ) ) ( ADVP-LOC ( RB here ) ( PP ( IN in ) ( NP ( DT the ) ( JJ affected ) ( NNS areas ) ) ) ) ( VP ( VBD were ) ( VP ( VBN dazzled ) ( PP ( IN by ) ( NP-LGS ( NP ( NP ( NP ( NNP Mr. ) ( NNP Laband ) ( POS 's ) ) ( NN analysis ) ) ( PP ( IN of ) ( NP ( NN time ) ( NNS values ) ) ) ) ( CC and ) ( NP ( NP ( PRP$ his ) ( NNS comparisons ) ) ( PP ( IN of ) ( NP ( NN effectiveness ) ) ) ( PP ( VBG concerning ) ( NP ( NN research ) ( CC and ) ( NN development ) ) ) ) ) ) ) ) )

We here in the affected areas were dazzled by Mr. Laband 's analysis of time values and his comparisons of effectiveness concerning research and development


( S ( NP-SBJ ( NP ( PRP$ His ) ( JJ theoretical ) ( NN approach ) ) ( CC and ) ( NP ( NP ( PRP$ its ) ( NN publication ) ) ( PP-LOC ( IN in ) ( NP ( DT this ) ( JJ venerable ) ( NN paper ) ) ) ) ) ( VP ( VBP are ) ( NP-ADV ( DT no ) ( NN doubt ) ) ( NP-PRD ( DT a ) ( JJ noteworthy ) ( NN accomplishment ) ) ( PP ( IN for ) ( NP ( PRP him ) ) ) ) )

His theoretical approach and its publication in this venerable paper are no doubt a noteworthy accomplishment for him


( FRAG ( ADJP ( RB Too ) ( JJ bad ) ) ( S ( NP-SBJ ( NN theory ) ) ( VP ( VBZ fails ) ( PP-CLR ( IN in ) ( NP ( NN practice ) ) ) ) ) )

Too bad theory fails in practice


( S ( NP-SBJ-1 ( NP ( PRP We ) ) ( NP ( NNS consumers ) ) ) ( VP ( VBP tend ) ( S ( VP ( TO to ) ( VP ( VB have ) ( NP ( JJ long ) ( NNS memories ) ) ) ) ) ) )

We consumers tend to have long memories


( S ( NP-SBJ-1 ( NP ( DT The ) ( NNS businesses ) ) ( VP ( VBG subscribing ) ( PP-CLR ( TO to ) ( NP ( NP ( NNP Mr. ) ( NNP Laband ) ( POS 's ) ) ( JJ effective ) ( NN price ) ( NN system ) ) ) ) ) ( VP ( MD will ) ( VP ( VB be ) ( VP ( VBN remembered ) ( SBAR-TMP ( WHADVP-2 ( WRB when ) ) ( S ( NP-SBJ ( NN normalcy ) ) ( VP ( VBZ returns ) ) ) ) ) ) ) )

The businesses subscribing to Mr. Laband 's effective price system will be remembered when normalcy returns


( S ( ADVP ( RB Perhaps ) ) ( S-ADV ( VP ( VBG considering ) ( NP ( NP ( DT the ) ( NN value ) ) ( PP ( IN of ) ( NP ( PRP$ our ) ( NN time ) ) ) ) ) ) ( NP-SBJ-1 ( PRP we ) ) ( VP ( MD will ) ( VP ( VB be ) ( ADJP-PRD ( JJ unable ) ( S ( VP ( TO to ) ( VP ( VB patronize ) ( NP ( PRP$ their ) ( NNS establishments ) ) ) ) ) ) ( PP-TMP ( IN in ) ( NP ( DT the ) ( JJ post-Hugo ) ( NN era ) ) ) ) ) )

Perhaps considering the value of our time we will be unable to patronize their establishments in the post-Hugo era


( S ( NP-SBJ ( PRP I ) ) ( VP ( VBP have ) ( NP ( NP ( DT a ) ( NN question ) ) ( PP ( IN for ) ( NP ( NNP Mr. ) ( NNP Laband ) ) ) ( SBARQ ( WHADVP-3 ( WRB How ) ) ( SQ ( VB do ) ( NP-SBJ ( PRP I ) ) ( VP ( VB explain ) ( PP-CLR ( TO to ) ( NP ( NP ( DT the ) ( JJ single ) ( NN mother ) ) ( PP ( IN of ) ( NP ( CD three ) ) ) ( VP ( NN standing ) ( PP-LOC-CLR ( IN in ) ( NP ( NN line ) ) ) ( ADVP-LOC ( JJ next ) ( PP ( TO to ) ( NP ( PRP me ) ) ) ) ( PP-TMP ( IN for ) ( NP ( DT the ) ( JJ past ) ( CD three ) ( NNS hours ) ) ) ) ) ) ( SBAR ( IN that ) ( S ( NP-SBJ ( NP ( DT the ) ( CD two ) ( NNS bags ) ) ( PP ( IN of ) ( NP ( NN ice ) ) ) ( SBAR ( S ( NP-SBJ ( PRP she ) ) ( VP ( VBZ needs ) ( S-CLR ( VP ( TO to ) ( VP ( VB keep ) ( S ( NP-SBJ ( NP ( PRP$ her ) ( NNS children ) ( POS 's ) ) ( NN food ) ) ( ADJP-PRD ( JJ edible ) ) ) ) ) ) ) ) ) ) ( VP ( MD will ) ( VP ( VB take ) ( NP ( PRP her ) ( JJ last ) ( CD 20 ) ) ) ) ) ) ) ) ) ) ) )

I have a question for Mr. Laband How do I explain to the single mother of three standing in line next to me for the past three hours that the two bags of ice she needs to keep her children 's food edible will take her last 20


( S ( NP-SBJ ( PRP I ) ) ( VP ( VBP 'm ) ( ADJP-PRD ( JJ sure ) ( SBAR ( S ( NP-SBJ ( PRP she ) ) ( VP ( MD 'll ) ( VP ( VB appreciate ) ( SBAR ( WHNP-1 ( WHNP ( WP what ) ( DT an ) ( JJ efficient ) ( NN reaction ) ) ( PP ( TO to ) ( NP ( PRP$ her ) ( NNS problems ) ) ) ) ( S ( NP-SBJ ( DT the ) ( NN price ) ( NN system ) ) ( VP ( VBZ has ) ( VP ( VBN created ) ) ) ) ) ) ) ) ) ) ) )

I 'm sure she 'll appreciate what an efficient reaction to her problems the price system has created


Chris Edgar


( NP-LOC ( NP ( NNP Myrtle ) ( NNP Beach ) ) ( NP ( NNP S.C ) ) )

Myrtle Beach S.C


( S ( PP-TMP ( ADVP ( RB Just ) ) ( IN after ) ( NP ( NN midnight ) ) ) ( NP-TMP ( NNP Monday ) ) ( NP-SBJ-1 ( JJ federal ) ( NN spending ) ) ( VP ( VBD started ) ( S ( VP ( TO to ) ( VP ( VB drop ) ( PP-EXT ( IN by ) ( NP ( QP ( CD 16 ) ( CD billion ) ) ) ) ) ) ) ) )

Just after midnight Monday federal spending started to drop by 16 billion


( X ( SBARQ ( WHNP ( WP What ) ) ( SQ ( VBP do ) ( NP-SBJ ( PRP you ) ) ( VP ( VB say ) ) ( S ( NP-SBJ ( NP ( PRP we ) ) ( NP ( DT all ) ) ) ( VP ( VP ( VBP close ) ( PRT ( RP down ) ) ( NP ( DT the ) ( NN poker ) ( NN game ) ) ) ( VP ( VBP go ) ( NP ( NN home ) ) ) ( CC and ) ( VP ( VBP bank ) ( NP ( DT the ) ( QP ( CD 16 ) ( CD billion ) ) ) ) ) ) ) ) )

What do you say we all close down the poker game go home and bank the 16 billion


( S ( S ( NP-SBJ ( DT That ) ) ( VP ( VBZ 's ) ( ADVP ( RB essentially ) ) ( SBAR-PRD ( WHNP-1 ( WP what ) ) ( S ( NP-SBJ ( NN budget ) ( NN director ) ( NNP Richard ) ( NNP Darman ) ) ( VP ( VBZ is ) ( VP ( VBG suggesting ) ) ) ) ) ) ) ( CC and ) ( S ( NP-SBJ ( PRP we ) ) ( VP ( VBP think ) ( SBAR ( S ( NP-SBJ ( PRP he ) ) ( VP ( VBZ deserves ) ( NP ( NP ( RB as ) ( JJ much ) ( NN support ) ) ( SBAR ( IN as ) ( S ( NP-SBJ ( PRP he ) ) ( VP ( MD can ) ( VP ( VB get ) ) ) ) ) ) ) ) ) ) ) )

That 's essentially what budget director Richard Darman is suggesting and we think he deserves as much support as he can get


( S ( SBAR-ADV ( IN If ) ( S ( S ( NP-SBJ ( JJ human ) ( NNS beings ) ) ( VP ( MD ca ) ( RB n't ) ( VP ( VB cut ) ( NP ( JJ federal ) ( NN spending ) ) ( ADVP-MNR ( RB honestly ) ) ) ) ) ( PRN ( CC and ) ( S ( NP-SBJ ( PRP they ) ) ( VP ( MD ca ) ( RB n't ) ) ) ) ) ) ( VP ( VB let ) ( S ( NP-SBJ ( DT the ) ( NNS computers ) ) ( VP ( VB do ) ( NP ( PRP it ) ) ) ) ) )

If human beings ca n't cut federal spending honestly and they ca n't let the computers do it


( S ( NP-SBJ ( NNP Congress ) ) ( PP ( IN with ) ( NP ( NP ( DT a ) ( NN measure ) ) ( PP ( IN of ) ( NP ( NNP White ) ( NNP House ) ( NN complicity ) ) ) ) ) ( VP ( VBZ has ) ( VP ( VBN been ) ( VP ( VBG manipulating ) ( NP ( DT the ) ( NN spending ) ( NNS accounts ) ) ( PP-TMP ( IN for ) ( NP ( NNS years ) ) ) ( PP-LOC ( IN under ) ( NP ( NP ( DT the ) ( NN cover ) ) ( PP ( IN of ) ( NP ( JJ omnibus ) ( NNS appropriations ) ( NNS bills ) ) ) ) ) ) ) ) )

Congress with a measure of White House complicity has been manipulating the spending accounts for years under the cover of omnibus appropriations bills


( PRN ( S ( ADVP ( RB Indeed ) ) ( PP ( IN without ) ( NP ( JJR earlier ) ( NNS manipulations ) ) ) ( NP-SBJ ( NP ( DT the ) ( NN current ) ( NN sequester ) ) ( PP ( IN of ) ( NP ( QP ( CD 16 ) ( CD billion ) ) ) ) ) ( VP ( MD would ) ( VP ( VB have ) ( VP ( VBN been ) ( ADJP-PRD ( RB even ) ( JJR larger ) ) ) ) ) ) )

Indeed without earlier manipulations the current sequester of 16 billion would have been even larger


( S ( NP-SBJ ( PRP We ) ) ( VP ( VBP suspect ) ( SBAR ( S ( NP-SBJ ( NNS voters ) ) ( VP ( VBP are ) ( VP ( VBN fed ) ( PRT ( RP up ) ) ( PP-CLR ( IN with ) ( NP ( DT the ) ( NN finagling ) ) ) ) ) ) ) ) )

We suspect voters are fed up with the finagling


( S ( VP ( VB Consider ) ( PP ( IN for ) ( NP ( NN instance ) ) ) ( SBAR ( IN that ) ( S ( NP-SBJ-2 ( RB even ) ( NP ( NN yesterday ) ( VBZ 's ) ) ( ADJP ( RB widely ) ( VBN publicized ) ) ( NN sequester ) ) ( VP ( VBZ is ) ( ADJP-PRD ( JJ likely ) ( S ( VP ( TO to ) ( VP ( VB be ) ( VP ( VBN traduced ) ) ) ) ) ) ( SBAR-ADV ( IN if ) ( S ( NP-SBJ-3 ( NP ( NN business ) ) ( PP ( IN as ) ( ADJP ( JJ usual ) ) ) ) ( VP ( VBZ is ) ( VP ( VBN allowed ) ( S ( VP ( TO to ) ( VP ( VB prevail ) ) ) ) ) ) ) ) ) ) ) ) )

Consider for instance that even yesterday 's widely publicized sequester is likely to be traduced if business as usual is allowed to prevail


( S ( PP-LOC ( IN Under ) ( NP ( DT the ) ( NN law ) ) ) ( NP-SBJ-1 ( NP ( NP ( NNP Gramm-Rudman ) ( POS 's ) ) ( NNS across-the-board-cuts ) ) ( PP-LOC ( IN in ) ( NP ( JJ federal ) ( NNS programs ) ) ) ) ( VP ( VBP are ) ( VP ( VBN supposed ) ( S ( VP ( TO to ) ( VP ( VB be ) ( ADJP-PRD ( JJ permanent ) ) ) ) ) ) ) )

Under the law Gramm-Rudman 's across-the-board-cuts in federal programs are supposed to be permanent


( S ( NP-SBJ-1 ( NP ( NNP Social ) ( NNP Security ) ) ( CC and ) ( NP ( NP ( NN spending ) ) ( PP ( IN for ) ( NP ( JJ poor ) ( NNS people ) ) ) ) ) ( VP ( VBP are ) ( VP ( VBN exempted ) ) ) )

Social Security and spending for poor people are exempted


( S ( ADVP ( RB However ) ) ( NP-SBJ ( NP ( NP ( DT the ) ( NNP Associated ) ( NNP Press ) ( POS 's ) ) ( NN account ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( NNP Monday ) ( NN sequester ) ( NN order ) ) ( VP ( VBN signed ) ( PP ( IN by ) ( NP-LGS ( NNP President ) ( NNP Bush ) ) ) ) ) ) ) ( VP ( ADVP-MNR ( RB neatly ) ) ( VBD captured ) ( NP ( NP ( DT the ) ( NN contempt ) ) ( SBAR ( S ( NP-SBJ ( NNP Congress ) ) ( VP ( VBZ shows ) ) ) ) ( PP ( IN toward ) ( NP ( NP ( DT the ) ( NN notion ) ) ( PP ( IN of ) ( NP ( DT a ) ( ADJP ( RB legally ) ( JJ binding ) ) ( NN commitment ) ) ) ) ) ) ) )

However the Associated Press 's account of the Monday sequester order signed by President Bush neatly captured the contempt Congress shows toward the notion of a legally binding commitment


( S ( NP-SBJ ( NNS Lawmakers ) ) ( VP ( VBP have ) ( VP ( VBN been ) ( VP ( VBG saying ) ( PP-TMP ( IN for ) ( NP ( NNS weeks ) ) ) ( SBAR ( IN that ) ( S ( NP-SBJ-2 ( PRP they ) ) ( VP ( VBP plan ) ( S ( VP ( TO to ) ( VP ( VB roll ) ( PRT ( RP back ) ) ( NP ( DT the ) ( NNS cuts ) ) ( ADVP-TMP ( ADVP ( RB as ) ( RB soon ) ) ( SBAR ( IN as ) ( S ( NP-SBJ ( PRP they ) ) ( VP ( VBP agree ) ( PP-CLR ( TO to ) ( NP ( NP ( DT a ) ( NN compromise ) ) ( PP-LOC ( IN on ) ( NP ( DT a ) ( JJ deficit-cutting ) ( NN bill ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Lawmakers have been saying for weeks that they plan to roll back the cuts as soon as they agree to a compromise on a deficit-cutting bill


( S ( NP-SBJ ( NP ( NNP Mr. ) ( NNP Darman ) ( POS 's ) ) ( NN inclination ) ( S ( VP ( TO to ) ( VP ( VB save ) ( NP ( DT the ) ( NN sequester ) ) ) ) ) ) ( VP ( VBD was ) ( VP ( VBN backed ) ( PRT ( RP up ) ) ( NP-TMP ( NN yesterday ) ) ( PP ( IN by ) ( NP-LGS ( NNP White ) ( NNP House ) ( NNP Press ) ( NNP Secretary ) ( NNP Marlin ) ( NNP Fitzwater ) ) ) ) ) )

Mr. Darman 's inclination to save the sequester was backed up yesterday by White House Press Secretary Marlin Fitzwater


( S ( NP-SBJ ( EX There ) ) ( VP ( VBZ is ) ( NP-PRD ( DT some ) ( NN feeling ) ) ( ADVP-LOC ( RB here ) ) ( SBAR-1 ( IN that ) ( S ( NP-SBJ ( DT the ) ( NNS cuts ) ) ( VP ( VBP are ) ( NP-PRD ( NP ( DT the ) ( NN way ) ) ( SBAR ( S ( VP ( TO to ) ( VP ( VB go ) ) ) ) ) ) ) ) ) ) )

There is some feeling here that the cuts are the way to go


( S ( NP-SBJ ( PRP It ) ) ( VP ( MD will ) ( VP ( VB reduce ) ( NP ( NN spending ) ) ( PP-MNR ( IN in ) ( NP ( DT a ) ( ADJP ( RB very ) ( JJ effective ) ) ( NN fashion ) ) ) ) ) )

It will reduce spending in a very effective fashion


( S ( NP-SBJ ( DT This ) ( NN attitude ) ) ( VP ( VBZ is ) ( VP ( VBG being ) ( VP ( VBD waved ) ( PRT ( RP away ) ) ( PP ( IN by ) ( NP-LGS ( NP ( NNS sophisticates ) ) ( PP-LOC ( IN around ) ( NP ( NNP Washington ) ) ) ) ) ( PP-CLR ( RB as ) ( NP ( NP ( JJ little ) ( JJR more ) ) ( PP ( IN than ) ( NP ( JJ tough ) ( NN talk ) ) ) ) ) ) ) ) )

This attitude is being waved away by sophisticates around Washington as little more than tough talk


( S ( NP-SBJ ( PRP It ) ) ( VP ( VBZ looks ) ( PP ( TO to ) ( NP ( PRP us ) ) ) ( PP-CLR ( IN like ) ( NP ( DT a ) ( JJ golden ) ( NN opportunity ) ( SBAR ( IN for ) ( S ( NP-SBJ ( NNP George ) ( NNP Bush ) ) ( VP ( TO to ) ( VP ( VB chop ) ( PRT ( RP off ) ) ( PP-LOC ( IN at ) ( NP ( DT the ) ( NNS knees ) ) ) ( NP ( NP ( PDT all ) ( DT this ) ( NN talk ) ) ( PP ( IN about ) ( NP ( DT a ) ( JJ timid ) ( JJ unserious ) ( NN presidency ) ) ) ) ) ) ) ) ) ) ) )

It looks to us like a golden opportunity for George Bush to chop off at the knees all this talk about a timid unserious presidency


( S ( NP-SBJ ( NNP Mr. ) ( NNP Bush ) ) ( VP ( MD would ) ( VP ( VB be ) ( VP ( VBG acting ) ( PP ( IN in ) ( NP ( DT the ) ( JJ public ) ( NN interest ) ) ) ( SBAR-ADV ( IN if ) ( S ( NP-SBJ ( PRP he ) ) ( VP ( VBD let ) ( NP ( NP ( NP ( DT the ) ( NNP Washington ) ( NNS elites ) ) ( SBAR ( WHNP-1 ( WP who ) ) ( S ( VP ( VBP manipulate ) ( NP ( DT these ) ( NNS budgets ) ) ) ) ) ) ( NP ( NP ( DT the ) ( NNS bureaucrats ) ) ( NP ( DT the ) ( NNS lobbyists ) ) ( NP ( DT the ) ( JJ congressional ) ( NNS staffers ) ) ) ) ( VP ( VB live ) ( PP-TMP ( IN for ) ( NP ( QP ( RB just ) ( CD one ) ) ( NN year ) ) ) ( PP-CLR ( IN on ) ( NP ( DT a ) ( JJ restricted ) ( NN diet ) ) ) ) ) ) ) ) ) ) )

Mr. Bush would be acting in the public interest if he let the Washington elites who manipulate these budgets the bureaucrats the lobbyists the congressional staffers live for just one year on a restricted diet


( S ( S ( VP ( VB Ask ) ( NP ( NNP Tommy ) ( NNP Lasorda ) ) ) ) ( S ( NP-SBJ ( JJ thin ) ) ( VP ( VBZ is ) ( ADVP-PRD ( RB in ) ) ) ) )

Ask Tommy Lasorda thin is in


( S ( S ( NP-SBJ ( NNP Senator ) ( NNP Phil ) ( NNP Gramm ) ) ( VP ( VBD pointed ) ( PRT ( RP out ) ) ( NP-TMP ( NNP Monday ) ) ( SBAR ( IN that ) ( S ( PP-TMP ( IN in ) ( NP ( NP ( DT the ) ( CD 20 ) ( NNS years ) ) ( SBAR-TMP ( IN before ) ( S ( NP-SBJ-1 ( NNP Gramm-Rudman ) ) ( VP ( VBD was ) ( VP ( VBN enacted ) ( PP-TMP ( IN in ) ( NP ( CD 1985 ) ) ) ) ) ) ) ) ) ( NP-SBJ ( JJ federal ) ( NN spending ) ) ( VP ( VBD grew ) ( PP-EXT ( IN by ) ( NP ( NP ( QP ( RB about ) ( CD 11 ) ) ( NN % ) ) ( NP-ADV ( DT a ) ( NN year ) ) ) ) ) ) ) ) ) ( S ( PP-TMP ( IN since ) ( NP ( DT the ) ( NN law ) ) ) ( NP-SBJ ( PRP it ) ) ( VP ( VBZ 's ) ( VP ( VBN grown ) ( PP ( IN at ) ( NP ( NP ( QP ( IN under ) ( CD 5 ) ) ( NN % ) ) ( ADVP ( RB annually ) ) ) ) ) ) ) )

Senator Phil Gramm pointed out Monday that in the 20 years before Gramm-Rudman was enacted in 1985 federal spending grew by about 11 % a year since the law it 's grown at under 5 % annually


( S ( NP-SBJ ( NP ( DT Another ) ( JJ major ) ( NN factor ) ) ( PP-LOC ( IN in ) ( NP ( DT this ) ( JJ positive ) ( NN trend ) ) ) ) ( VP ( VBD was ) ( NP-PRD ( NP ( NP ( NNP Ronald ) ( NNP Reagan ) ( POS 's ) ) ( NN decision ) ) ( ADVP-TMP ( RB early ) ( PP ( IN in ) ( NP ( PRP$ his ) ( NN presidency ) ) ) ) ( S-1 ( VP ( TO to ) ( VP ( VB fight ) ( NP ( DT the ) ( NN budget ) ( NN war ) ) ( PP-LOC ( IN on ) ( NP ( DT the ) ( NN expenditure ) ( NN side ) ) ) ( PP ( RB rather ) ( IN than ) ( S-NOM ( VP ( VBG raising ) ( NP ( NNS taxes ) ) ) ) ) ) ) ) ) ) )

Another major factor in this positive trend was Ronald Reagan 's decision early in his presidency to fight the budget war on the expenditure side rather than raising taxes