( S ( NP-SBJ ( NP ( NNP Mr. ) ( NNP Wathen ) ) ( SBAR ( WHNP-23 ( WP who ) ) ( S ( VP ( VBZ says ) ( SBAR ( S ( NP-SBJ ( NNP Pinkerton ) ( POS 's ) ) ( VP ( VBD had ) ( NP ( NP ( DT a ) ( NN loss ) ) ( PP ( IN of ) ( NP ( QP ( RB nearly ) ( CD 8 ) ( CD million ) ) ) ) ) ( PP-TMP ( IN in ) ( NP ( CD 1987 ) ) ) ( PP-LOC ( IN under ) ( NP ( NNP American ) ( NNP Brands ) ) ) ) ) ) ) ) ) ) ( VP ( VBZ boasts ) ( SBAR ( IN that ) ( S ( NP-SBJ ( PRP he ) ) ( VP ( VBZ 's ) ( VP ( VBN made ) ( S ( NP-SBJ ( NNP Pinkerton ) ( POS 's ) ) ( ADJP-PRD ( JJ profitable ) ) ( ADVP-TMP ( RB again ) ) ) ) ) ) ) ) )

Mr. Wathen who says Pinkerton 's had a loss of nearly 8 million in 1987 under American Brands boasts that he 's made Pinkerton 's profitable again


( S ( CC But ) ( NP-SBJ ( NP ( NNP Mr. ) ( NNP Wathen ) ( POS 's ) ) ( NN team ) ) ( ADVP-TMP ( RB still ) ) ( VP ( MD must ) ( VP ( VB pay ) ( PRT ( RP down ) ) ( NP ( NP ( QP ( RB about ) ( CD 82 ) ( CD million ) ) ) ( PP ( IN of ) ( NP ( JJ long-term ) ( NN bank ) ( NN debt ) ) ) ( PP ( IN from ) ( NP ( DT the ) ( NN acquisition ) ) ) ) ) ) ( PP-TMP ( IN within ) ( NP ( DT the ) ( JJ next ) ( CD four ) ( NNS years ) ) ) )

But Mr. Wathen 's team still must pay down about 82 million of long-term bank debt from the acquisition within the next four years


( S ( S ( NP-TMP ( JJ Last ) ( NN year ) ) ( NP-SBJ ( NP ( NNS earnings ) ) ( PP ( IN of ) ( NP ( DT the ) ( JJ combined ) ( NNS companies ) ) ) ) ( VP ( VBD did ) ( RB n't ) ( VP ( VB cover ) ( NP ( NN debt ) ( NN service ) ) ) ) ) ( CC and ) ( S ( NP-SBJ-1 ( NNP Pinkerton ) ( POS 's ) ) ( VP ( VBD was ) ( VP ( VBN forced ) ( S ( VP ( TO to ) ( VP ( VB borrow ) ( NP ( NP ( QP ( CD 20 ) ( CD million ) ) ) ( PP ( IN of ) ( NP ( JJ subordinated ) ( NN debt ) ) ) ) ) ) ) ) ) ) )

Last year earnings of the combined companies did n't cover debt service and Pinkerton 's was forced to borrow 20 million of subordinated debt


( S ( S-TPC-2 ( NP-SBJ-1 ( PRP We ) ) ( VP ( MD would ) ( RB n't ) ( VP ( VB have ) ( VP ( VBN had ) ( S ( VP ( TO to ) ( VP ( VB refinance ) ) ) ) ( SBAR-ADV ( IN if ) ( S ( NP-SBJ ( NP ( DT a ) ( NN lot ) ) ( PP ( IN of ) ( NP ( DT the ) ( NNS problems ) ) ) ) ( VP ( VBD had ) ( RB n't ) ( VP ( VBN been ) ( ADVP-LOC-PRD ( RB there ) ) ) ) ) ) ) ) ) ) ( NP-SBJ ( NNP Mr. ) ( NNP Wathen ) ) ( VP ( VBZ says ) ) )

We would n't have had to refinance if a lot of the problems had n't been there Mr. Wathen says


( S ( NP-TMP ( DT This ) ( NN year ) ) ( NP-SBJ ( NNP Mr. ) ( NNP Wathen ) ) ( VP ( VBZ says ) ( SBAR ( S ( NP-SBJ-1 ( DT the ) ( NN firm ) ) ( VP ( MD will ) ( VP ( VB be ) ( ADJP-PRD ( JJ able ) ( S ( VP ( TO to ) ( VP ( VP ( VB service ) ( NP ( NN debt ) ) ) ( CC and ) ( VP ( ADVP ( RB still ) ) ( VB turn ) ( NP ( DT a ) ( JJ modest ) ( NN profit ) ) ) ) ) ) ) ) ) ) ) ) )

This year Mr. Wathen says the firm will be able to service debt and still turn a modest profit


( S ( ADVP-TMP ( RB Now ) ) ( NP-SBJ ( NNP Pinkerton ) ( POS 's ) ) ( VP ( MD could ) ( VP ( VB become ) ( ADJP-PRD ( JJ entangled ) ( PP ( IN in ) ( NP ( NP ( DT a ) ( JJ protracted ) ( JJ legal ) ( NN fracas ) ) ( PP ( IN with ) ( NP ( PRP$ its ) ( JJ former ) ( NN parent ) ) ) ) ) ) ) ) )

Now Pinkerton 's could become entangled in a protracted legal fracas with its former parent


( S ( NP-SBJ-2 ( DT The ) ( NN company ) ) ( ADVP-TMP ( RB recently ) ) ( VP ( VBD filed ) ( NP ( NN suit ) ) ( PP-LOC ( IN in ) ( NP ( NP ( NN state ) ( NN court ) ) ( PP-LOC ( IN in ) ( NP ( NNP Los ) ( NNP Angeles ) ) ) ) ) ( PP ( IN against ) ( NP ( NNP American ) ( NNP Brands ) ) ) ( S-ADV ( VP ( VBG seeking ) ( NP ( NP ( QP ( IN at ) ( JJS least ) ( CD 40 ) ( CD million ) ) ) ( PP ( IN in ) ( NP ( NNS damages ) ) ) ) ( PP-CLR ( IN from ) ( NP ( DT the ) ( ADJP ( NNP Old ) ( NNP Greenwich ) ( JJ Conn.-based ) ) ( NN company ) ) ) ) ) ) )

The company recently filed suit in state court in Los Angeles against American Brands seeking at least 40 million in damages from the Old Greenwich Conn.-based company


( S ( NP-SBJ ( DT The ) ( NN suit ) ) ( VP ( VBZ alleges ) ( SBAR ( IN that ) ( S ( NP-SBJ-1 ( NNP American ) ( NNP Brands ) ) ( VP ( VP ( VBD misrepresented ) ( NP ( NP ( DT the ) ( JJ financial ) ( NN condition ) ) ( PP ( IN of ) ( NP ( NNP Pinkerton ) ( POS 's ) ) ) ( PP-TMP ( IN before ) ( NP ( DT the ) ( NN sale ) ) ) ) ) ( VP ( VBD failed ) ( S ( VP ( TO to ) ( VP ( VB disclose ) ( NP ( NP ( NP ( VBG pending ) ( NNS lawsuits ) ) ( CC and ) ( NP ( JJ material ) ( NNS contracts ) ) ) ( SBAR ( WHPP-3 ( IN in ) ( WHNP ( WDT which ) ) ) ( S ( NP-SBJ ( NNP Pinkerton ) ( POS 's ) ) ( VP ( VBD was ) ( PP-PRD ( IN in ) ( NP ( NN default ) ) ) ) ) ) ) ) ) ) ) ( VP ( VBD had ) ( RB n't ) ( VP ( VBN registered ) ( NP ( DT the ) ( NP ( NNP Pinkerton ) ( POS 's ) ) ( NN name ) ( CC and ) ( NN trademark ) ) ( PP-LOC-CLR ( IN in ) ( NP ( DT the ) ( NNP United ) ( NNP Kingdom ) ) ) ) ) ( CC and ) ( VP ( VBD did ) ( RB n't ) ( VP ( VB tell ) ( NP ( NNP California ) ( NNP Plant ) ( NNP Protection ) ) ( PP-CLR ( IN about ) ( NP ( DT some ) ( NN labor ) ( NNS controversies ) ) ) ) ) ) ) ) ) )

The suit alleges that American Brands misrepresented the financial condition of Pinkerton 's before the sale failed to disclose pending lawsuits and material contracts in which Pinkerton 's was in default had n't registered the Pinkerton 's name and trademark in the United Kingdom and did n't tell California Plant Protection about some labor controversies


( SINV ( S-TPC-1 ( S ( NP-SBJ ( PRP We ) ) ( VP ( VBP have ) ( ADVP-TMP ( RB previously ) ) ( VP ( VBN had ) ( NP ( NP ( NNS discussions ) ) ( PP ( IN with ) ( NP ( NP ( NNS representatives ) ) ( PP ( IN of ) ( NP ( NP ( NNP Pinkerton ) ( POS 's ) ) ( NN Inc. ) ) ) ) ) ( PP ( VBG concerning ) ( NP ( NP ( DT the ) ( NN sale ) ) ( PP ( IN of ) ( NP ( DT the ) ( NN company ) ) ) ) ) ) ) ) ) ( CC and ) ( S ( NP-SBJ ( PRP we ) ) ( VP ( VBD concluded ) ( SBAR ( IN that ) ( S ( NP-SBJ ( PRP we ) ) ( VP ( VBD did ) ( RB not ) ( VP ( VB have ) ( NP ( NN liability ) ) ( PP-LOC ( IN under ) ( NP ( DT the ) ( NN contract ) ) ) ) ) ) ) ) ) ) ( VP ( VBZ says ) ) ( NP-SBJ ( NNP American ) ( NNP Brands ) ) )

We have previously had discussions with representatives of Pinkerton 's Inc. concerning the sale of the company and we concluded that we did not have liability under the contract says American Brands


( S ( SBAR-PRP ( IN As ) ( S ( NP-SBJ ( DT this ) ) ( VP ( VBZ is ) ( ADVP-TMP ( RB now ) ) ( NP-PRD ( DT a ) ( NN litigation ) ( NN matter ) ) ) ) ) ( NP-SBJ ( PRP we ) ) ( VP ( VBP have ) ( NP ( DT no ) ( JJ further ) ( NN comment ) ) ) )

As this is now a litigation matter we have no further comment


( S ( CC And ) ( ADVP ( RB then ) ) ( NP-SBJ ( EX there ) ) ( VP ( VBZ 's ) ( NP-PRD ( NP ( DT the ) ( NN case ) ) ( PP ( IN of ) ( NP ( DT the ) ( JJ missing ) ( NN gold ) ( NN watch ) ) ) ) ) )

And then there 's the case of the missing gold watch


( S ( NP-SBJ ( DT The ) ( NN lawsuit ) ) ( VP ( VBZ alleges ) ( SBAR ( IN that ) ( S ( NP-SBJ ( NP ( DT an ) ( NN inventory ) ) ( PP ( IN of ) ( NP ( NP ( NNP Pinkerton ) ( POS 's ) ) ( NNS memorabilia ) ) ) ) ( VP ( VBD disclosed ) ( SBAR ( IN that ) ( S ( NP-SBJ-1 ( NP ( CD one ) ) ( PP ( IN of ) ( NP ( DT the ) ( NNS watches ) ) ) ) ( VP ( VBD had ) ( RB n't ) ( VP ( VBN been ) ( VP ( VBN forked ) ( PRT ( RP over ) ) ( PP ( IN by ) ( NP-LGS ( NNP American ) ( NNP Brands ) ) ) ) ) ) ) ) ) ) ) ) )

The lawsuit alleges that an inventory of Pinkerton 's memorabilia disclosed that one of the watches had n't been forked over by American Brands


( S ( S-TPC-5 ( NP-SBJ ( NP-1 ( NNP American ) ( NNP Brand ) ( POS 's ) ) ( NN failure ) ( S ( VP ( TO to ) ( VP ( VB surrender ) ( NP ( DT the ) ( NN gold ) ( NN watch ) ) ) ) ) ) ( VP ( VBZ has ) ( VP ( VP ( VBN damaged ) ( NP ( JJ new ) ( NX ( NNP Pinkerton ) ( POS 's ) ) ) ( PP-MNR ( IN in ) ( NP ( NP ( DT an ) ( NN amount ) ) ( SBAR ( RB as ) ( RB yet ) ( S ( VP ( TO to ) ( VP ( VB be ) ( VP ( VBN determined ) ) ) ) ) ) ) ) ) ( CC and ) ( VP ( VBN deprived ) ( NP ( PRP it ) ) ( PP-CLR ( IN of ) ( NP ( NP ( DT a ) ( JJ valuable ) ( NN artifact ) ) ( SBAR ( WHPP-2 ( IN for ) ( WHNP ( WDT which ) ) ) ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBD had ) ( VP ( VBN bargained ) ) ) ) ) ) ) ) ) ) ) ( NP-SBJ ( DT the ) ( NN suit ) ) ( VP ( VBZ charges ) ) )

American Brand 's failure to surrender the gold watch has damaged new Pinkerton 's in an amount as yet to be determined and deprived it of a valuable artifact for which it had bargained the suit charges


( SINV ( S-TPC-2 ( NP-SBJ ( NP ( DT The ) ( NN key ) ) ( PP ( TO to ) ( NP ( NP ( NNP Pinkerton ) ( POS 's ) ) ( NN future ) ) ) ) ( VP ( MD will ) ( VP ( VB be ) ( S-NOM-PRD ( VP ( VBG sticking ) ( PP-CLR ( TO to ) ( SBAR-NOM ( SBAR ( WHNP-1 ( WP what ) ) ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBZ does ) ( ADVP-MNR ( RBS best ) ) ) ) ) ( S-NOM ( VP ( VBG being ) ( NP-PRD ( DT a ) ( NN security ) ( NN company ) ) ) ) ) ) ) ) ) ) ) ( VP ( VBZ says ) ) ( NP-SBJ ( NNP Mr. ) ( NNP Wathen ) ) )

The key to Pinkerton 's future will be sticking to what it does best being a security company says Mr. Wathen


( S ( NP-SBJ ( DT The ) ( NN company ) ) ( VP ( VBZ is ) ( ADVP ( RB also ) ) ( VP ( VBG renewing ) ( NP ( NP ( PRP$ its ) ( NN emphasis ) ) ( PP-LOC ( IN on ) ( NP ( NP ( NNS investigations ) ) ( NP ( NP ( RB particularly ) ( JJ undercover ) ( NNS investigations ) ) ( PP ( IN for ) ( NP ( NNS corporations ) ) ) ) ) ) ) ) ) )

The company is also renewing its emphasis on investigations particularly undercover investigations for corporations


( S ( SBAR-ADV ( IN Although ) ( S ( NP-SBJ ( NNS investigations ) ) ( ADVP-TMP ( RB now ) ) ( VP ( VBP account ) ( PP-CLR ( IN for ) ( NP ( NP ( QP ( RB only ) ( RB about ) ( CD 5 ) ) ( NN % ) ) ( PP ( IN of ) ( NP ( NP ( NNP Pinkerton ) ( POS 's ) ) ( JJ total ) ( NN revenue ) ) ) ) ) ) ) ) ( S ( NP-SBJ ( NP ( DT that ) ( NN side ) ) ( PP ( IN of ) ( NP ( DT the ) ( NN business ) ) ) ) ( VP ( VBZ has ) ( ADVP ( RB traditionally ) ) ( VP ( VBN been ) ( NP-PRD ( NP ( DT the ) ( ADJP ( RBR more ) ( JJ glamorous ) ) ) ( PP ( IN of ) ( NP ( DT the ) ( CD two ) ) ) ) ) ) ) ( CC and ) ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBZ carries ) ( NP ( ADJP ( JJ historical ) ( CC and ) ( JJ sentimental ) ) ( NN value ) ) ) ) )

Although investigations now account for only about 5 % of Pinkerton 's total revenue that side of the business has traditionally been the more glamorous of the two and it carries historical and sentimental value


( S ( NP-SBJ ( NP ( NN Author ) ( NNP Dashiell ) ( NNP Hammett ) ) ( SBAR ( WHNP-24 ( WP who ) ) ( S ( VP ( VBD wrote ) ( NP-TMP ( DT The ) ( JJ Maltese ) ( NN Falcon ) ) ) ) ) ) ( VP ( VBD was ) ( NP-PRD ( DT a ) ( JJ former ) ( NP ( NNP Pinkerton ) ( POS 's ) ) ( NN detective ) ) ) )

Author Dashiell Hammett who wrote The Maltese Falcon was a former Pinkerton 's detective


( S ( S-TPC-1 ( NP-SBJ ( NNP American ) ( NNP Brands ) ) ( ADVP ( RB just ) ) ( VP ( VBD had ) ( NP ( DT a ) ( JJ different ) ( NN approach ) ) ) ) ( NP-SBJ ( NNP Mr. ) ( NNP Wathen ) ) ( VP ( VBZ says ) ) )

American Brands just had a different approach Mr. Wathen says


( S ( S ( NP-SBJ ( PRP$ Their ) ( NN approach ) ) ( VP ( VBD did ) ( RB n't ) ( VP ( NN work ) ) ) ) ( S ( NP-SBJ ( PRP mine ) ) ( VP ( VBZ is ) ) ) )

Their approach did n't work mine is


( S ( NP-SBJ-1 ( NP ( NNP Carl ) ( NNP E. ) ( NNP Pfeiffer ) ) ( NP ( JJ chief ) ( JJ executive ) ( NN officer ) ) ) ( VP ( VBD was ) ( VP ( VBN named ) ( PP-CLR ( TO to ) ( NP ( NP ( DT the ) ( JJ additional ) ( NN post ) ) ( PP ( IN of ) ( NP ( NP ( NN chairman ) ) ( PP ( IN of ) ( NP ( DT this ) ( NNS specialty-metals ) ( NN manufacturing ) ( NN concern ) ) ) ) ) ) ) ) ) )

Carl E. Pfeiffer chief executive officer was named to the additional post of chairman of this specialty-metals manufacturing concern


( S ( NP-SBJ ( NP ( NNP Robert ) ( NNP C. ) ( NNP Snyder ) ) ( NP ( NP ( NP ( DT a ) ( NN director ) ) ( CC and ) ( NP ( NN chief ) ( NN operating ) ( NN officer ) ) ) ( PP ( IN of ) ( NP ( DT the ) ( NN company ) ) ) ) ) ( VP ( VBZ succeeds ) ( NP ( NNP Mr. ) ( NNP Pfeiffer ) ) ( PP-CLR ( IN as ) ( NP ( NN president ) ) ) ) )

Robert C. Snyder a director and chief operating officer of the company succeeds Mr. Pfeiffer as president


( S ( NP-SBJ ( NNPS Bankers ) ( NNP Trust ) ( NNP New ) ( NNP York ) ( NNP Corp. ) ) ( VP ( VBD won ) ( NP ( NP ( NN permission ) ) ( PP ( IN from ) ( NP ( DT the ) ( NNP Federal ) ( NNP Reserve ) ( NNP Board ) ) ) ( S-1 ( VP ( TO to ) ( VP ( VB move ) ( NP ( NP ( DT the ) ( NN company ) ( POS 's ) ) ( JJ private ) ( NN placement ) ( NN department ) ) ( PP-DIR ( TO to ) ( NP ( PRP$ its ) ( JJ fledgling ) ( NNS securities ) ( NN subsidiary ) ) ) ) ) ) ) ) )

Bankers Trust New York Corp. won permission from the Federal Reserve Board to move the company 's private placement department to its fledgling securities subsidiary


( S ( NP-SBJ ( NP ( DT The ) ( ADJP ( RB seemingly ) ( JJ mundane ) ) ( NN action ) ) ( SBAR ( WHNP-183 ( WDT which ) ) ( S ( VP ( VBD was ) ( VP ( VBN opposed ) ( PP ( IN by ) ( NP-LGS ( NP ( DT the ) ( NNPS Securities ) ( NNP Industry ) ( NNP Association ) ) ( NP ( DT a ) ( NN trade ) ( NN group ) ) ) ) ) ) ) ) ) ( VP ( VBZ has ) ( NP ( NP ( JJ important ) ( NNS implications ) ) ( PP ( IN for ) ( NP ( NP ( NP ( NNS banks ) ( POS ' ) ) ( JJ recent ) ( NN entry ) ) ( PP ( IN into ) ( NP ( NP ( DT the ) ( NN underwriting ) ) ( PP ( IN of ) ( NP ( JJ corporate ) ( NNS securities ) ) ) ) ) ) ) ) ) )

The seemingly mundane action which was opposed by the Securities Industry Association a trade group has important implications for banks ' recent entry into the underwriting of corporate securities


( S ( NP-SBJ ( NP ( DT The ) ( NNP Fed ) ( POS 's ) ) ( NN action ) ) ( VP ( VBZ increases ) ( NP ( NP ( DT the ) ( NN volume ) ) ( PP ( IN of ) ( NP ( NP ( ADJP ( RB publicly ) ( VBN registered ) ) ( NNS securities ) ) ( SBAR ( WHNP-1 ( IN that ) ) ( S ( NP-SBJ ( NP ( NNS banks ) ( POS ' ) ) ( NNS securities ) ( NNS affiliates ) ) ( VP ( MD will ) ( VP ( VB be ) ( ADJP-PRD ( JJ able ) ( S ( VP ( TO to ) ( VP ( VB underwrite ) ) ) ) ) ) ) ) ) ) ) ) ) )

The Fed 's action increases the volume of publicly registered securities that banks ' securities affiliates will be able to underwrite


( S ( NP-SBJ ( JJ Several ) ( JJ other ) ( NNS banks ) ) ( VP ( VBP have ) ( NP ( NP ( JJ similar ) ( NNS applications ) ) ( ADJP ( JJ pending ) ) ) ) )

Several other banks have similar applications pending


( S ( PP-TMP ( IN Over ) ( NP ( DT the ) ( JJ past ) ( CD two ) ( NNS years ) ) ) ( NP-SBJ ( DT the ) ( NNP Fed ) ) ( VP ( VBZ has ) ( VP ( VBN given ) ( NP ( NP ( DT a ) ( NN handful ) ) ( PP ( IN of ) ( NP ( NP ( NNS banks ) ( POS ' ) ) ( NNS securities ) ( NNS affiliates ) ) ) ) ( NP ( NN permission ) ( S ( VP ( TO to ) ( VP ( VP ( VB underwrite ) ) ( CC and ) ( VP ( VB deal ) ( PP-CLR ( IN in ) ) ) ( NP-1 ( NP ( DT a ) ( NN variety ) ) ( PP ( IN of ) ( NP ( NP ( ADJP ( JJ corporate ) ( JJ asset-backed ) ( CC and ) ( JJ municipal ) ) ( NNS securities ) ) ( SBAR ( WHNP-184 ( WDT that ) ) ( S ( VP ( VBD had ) ( ADVP-TMP ( RB previously ) ) ( VP ( VBN been ) ( NP-PRD ( NP ( DT the ) ( JJ sole ) ( NN domain ) ) ( PP ( IN of ) ( NP ( NNS securities ) ( NNS firms ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Over the past two years the Fed has given a handful of banks ' securities affiliates permission to underwrite and deal in a variety of corporate asset-backed and municipal securities that had previously been the sole domain of securities firms


( S ( NP-SBJ-1 ( NNS Securities ) ( NNS firms ) ) ( VP ( VBP have ) ( VP ( VBN challenged ) ( NP ( DT those ) ( NNP Fed ) ( NNS approvals ) ) ( S-ADV ( VP ( VBG saying ) ( SBAR ( S ( NP-SBJ ( PRP they ) ) ( VP ( VBP violate ) ( NP ( NP ( JJ federal ) ( NNS laws ) ) ( VP ( VBG separating ) ( NP ( DT the ) ( NN banking ) ( CC and ) ( NNS securities ) ( NNS businesses ) ) ) ) ) ) ) ) ) ) ) )

Securities firms have challenged those Fed approvals saying they violate federal laws separating the banking and securities businesses


( S ( ADVP ( RB However ) ) ( NP-SBJ ( DT the ) ( NNP Fed ) ) ( VP ( VBD limited ) ( NP ( NP ( DT the ) ( NN revenue ) ) ( SBAR ( WHNP-185 ( WDT that ) ) ( S ( NP-SBJ ( NNS banks ) ) ( VP ( MD could ) ( VP ( VB earn ) ( PP-CLR ( IN from ) ( NP ( DT these ) ( JJ new ) ( NN underwriting ) ( NNS activities ) ) ) ) ) ) ) ) ( PP-CLR ( TO to ) ( NP ( NP ( QP ( DT no ) ( JJR more ) ( IN than ) ( CD 10 ) ) ( NN % ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( NN revenue ) ) ( VP ( VBN earned ) ( PP-CLR ( IN from ) ( NP ( NP ( JJ other ) ( NNS securities ) ( NNS activities ) ) ( ADJP ( RB long ) ( RB open ) ( PP ( TO to ) ( NP ( NNS banks ) ) ) ) ( PP ( JJ such ) ( IN as ) ( S-NOM ( VP ( VBG dealing ) ( PP-CLR ( IN in ) ( NP ( NNP U.S. ) ( NNPS Treasurys ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

However the Fed limited the revenue that banks could earn from these new underwriting activities to no more than 10 % of the revenue earned from other securities activities long open to banks such as dealing in U.S. Treasurys


( S ( PP ( IN For ) ( NP ( DT some ) ( NNS banks ) ) ) ( NP-SBJ ( DT that ) ( ADJP ( CD 10 ) ( NN % ) ) ( NN ceiling ) ) ( VP ( VBD created ) ( NP ( NNS problems ) ) ) )

For some banks that 10 % ceiling created problems


( S ( CC But ) ( PP-MNR ( IN by ) ( S-NOM ( VP ( VBG allowing ) ( S ( NP-SBJ ( NNP BT ) ( NNP Securities ) ( NNP Inc. ) ) ( VP ( TO to ) ( VP ( VB handle ) ( NP ( JJ private ) ( NNS placements ) ) ) ) ) ) ) ) ( NP-SBJ-1 ( DT the ) ( NNP Fed ) ) ( VP ( VBD boosted ) ( NP ( NP ( DT the ) ( NN volume ) ) ( PP ( IN of ) ( NP ( NP ( JJ new ) ( NNS types ) ) ( PP ( IN of ) ( NP ( NP ( NN underwriting ) ) ( SBAR ( WHNP-186 ( IN that ) ) ( S ( NP-SBJ ( DT the ) ( NN unit ) ) ( VP ( MD can ) ( VP ( VB do ) ) ) ) ) ) ) ) ) ) ) )

But by allowing BT Securities Inc. to handle private placements the Fed boosted the volume of new types of underwriting that the unit can do


( S ( NP-SBJ ( JJ Private ) ( NNS placements ) ) ( VP ( VBP involve ) ( NP ( NP ( NN debt ) ) ( CC and ) ( NP ( NN equity ) ( NNS securities ) ) ) ( PP-LOC ( ADVP ( RB typically ) ) ( IN in ) ( NP ( NP ( NNS denominations ) ) ( PP ( IN of ) ( NP ( QP ( CD 1 ) ( CD million ) ) ) ) ( SBAR ( WHNP-187 ( WDT that ) ) ( S ( VP ( VP ( VBP are ) ( VP ( VBN sold ) ( PP-DTV ( TO to ) ( NP ( JJ institutional ) ( NNS investors ) ) ) ) ) ( CC and ) ( VP ( VBP are ) ( RB n't ) ( VP ( JJ registered ) ( PP-CLR ( IN with ) ( NP ( DT the ) ( NNP Securities ) ( CC and ) ( NNP Exchange ) ( NNP Commission ) ) ) ) ) ) ) ) ) ) ) )

Private placements involve debt and equity securities typically in denominations of 1 million that are sold to institutional investors and are n't registered with the Securities and Exchange Commission


( S ( NP-TMP ( JJ Last ) ( NN year ) ) ( NP-SBJ ( NNP Bankers ) ( NNP Trust ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBD placed ) ( NP ( NP ( QP ( CD 10 ) ( CD billion ) ) ) ( PP ( IN of ) ( NP ( JJ corporate ) ( NN debt ) ( CC and ) ( NNS equities ) ) ) ) ( ADVP-MNR ( RB privately ) ) ) ) ) ) )

Last year Bankers Trust said it placed 10 billion of corporate debt and equities privately


( S ( NP-SBJ ( PRP You ) ) ( VP ( MD 'd ) ( VP ( VB think ) ( SBAR ( S ( NP-SBJ ( NP ( PDT all ) ( DT the ) ( NNS stories ) ) ( PP ( IN about ) ( NP ( NP ( JJ well-heeled ) ( NNS communities ) ( CC and ) ( NNS developers ) ) ( VP ( VBG getting ) ( NP ( NNP HUD ) ( NNS grants ) ) ) ) ) ) ( VP ( MD would ) ( VP ( VB prompt ) ( S ( NP-SBJ ( NNP Congress ) ) ( VP ( TO to ) ( VP ( VB tighten ) ( PRT ( RP up ) ) ( PP-LOC ( IN on ) ( NP ( JJ upscale ) ( NN housing ) ( NNS subsidies ) ) ) ) ) ) ) ) ) ) ) ) )

You 'd think all the stories about well-heeled communities and developers getting HUD grants would prompt Congress to tighten up on upscale housing subsidies


No way


( S ( NP-SBJ ( NNP Congress ) ) ( VP ( VBZ has ) ( ADVP ( RB just ) ) ( VP ( VBN made ) ( S ( NP-SBJ ( NP ( PRP it ) ) ) ( ADJP-PRD ( JJR easier ) ) ( PP ( IN for ) ( NP ( DT the ) ( JJ affluent ) ) ) ( S-1 ( VP ( TO to ) ( VP ( VB qualify ) ( PP-CLR ( IN for ) ( NP ( NP ( JJ insured ) ( NNS loans ) ) ( PP ( IN from ) ( NP ( DT the ) ( JJ deficit-ridden ) ( NNP Federal ) ( NNP Housing ) ( NNP Administration ) ) ) ) ) ) ) ) ) ) ) )

Congress has just made it easier for the affluent to qualify for insured loans from the deficit-ridden Federal Housing Administration


( S ( NP-SBJ ( PRP It ) ) ( VP ( VBZ appears ) ( SBAR ( IN that ) ( S ( NP-SBJ ( NP ( DT the ) ( JJ only ) ( NN thing ) ) ( SBAR ( S ( NP-SBJ ( NNP Congress ) ) ( VP ( VBZ is ) ( VP ( VBG learning ) ( PP ( IN from ) ( NP ( DT the ) ( NNP HUD ) ( NN story ) ) ) ) ) ) ) ) ( VP ( VBZ is ) ( SBAR-PRD ( WHADVP-2 ( WRB how ) ) ( S ( VP ( TO to ) ( VP ( VB enlarge ) ( NP ( NP ( PRP$ its ) ( NN control ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( NN honey ) ( NN pot ) ) ( VP ( VBG going ) ( PP-DIR ( TO to ) ( NP ( JJ special ) ( NNS interests ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

It appears that the only thing Congress is learning from the HUD story is how to enlarge its control of the honey pot going to special interests


( S ( ADVP-TMP ( RB Right ) ( RB now ) ) ( NP-SBJ ( NP ( DT the ) ( JJS largest ) ( NN loan ) ) ( SBAR ( S ( NP-SBJ ( DT the ) ( NNP FHA ) ) ( VP ( MD can ) ( VP ( VB insure ) ( PP-LOC ( IN in ) ( NP ( JJ high-cost ) ( NN housing ) ( NNS markets ) ) ) ) ) ) ) ) ( VP ( VBZ is ) ( NP-PRD ( CD 101,250 ) ) ) )

Right now the largest loan the FHA can insure in high-cost housing markets is 101,250


( S ( NP-TMP ( JJ Last ) ( NN week ) ) ( NP-SBJ ( NN housing ) ( NNS lobbies ) ) ( VP ( VBD persuaded ) ( NP-1 ( NNP Congress ) ) ( S ( VP ( TO to ) ( VP ( VB raise ) ( NP ( DT the ) ( NN ceiling ) ) ( PP-DIR ( TO to ) ( NP ( CD 124,875 ) ) ) ( S-ADV ( VP ( VBG making ) ( S ( NP-SBJ ( NNP FHA ) ( NNS loans ) ) ( ADJP-PRD ( RBR more ) ( JJ accessible ) ( PP ( TO to ) ( NP ( DT the ) ( JJ well-to-do ) ) ) ) ) ) ) ) ) ) ) )

Last week housing lobbies persuaded Congress to raise the ceiling to 124,875 making FHA loans more accessible to the well-to-do


( S ( CC But ) ( NP-SBJ ( PRP it ) ) ( VP ( VBZ does ) ( NP ( DT that ) ) ( PP ( IN at ) ( NP ( NP ( DT the ) ( NN cost ) ) ( PP ( IN of ) ( S-NOM ( VP ( VBG deepening ) ( NP ( NP ( DT the ) ( NN taxpayer ) ( POS 's ) ) ( NN exposure ) ) ( SBAR-ADV ( IN if ) ( S ( NP-SBJ-1 ( DT the ) ( NNP FHA ) ) ( VP ( VBZ is ) ( VP ( VBN forced ) ( S ( VP ( TO to ) ( VP ( VB pay ) ( PP-CLR ( IN for ) ( NP ( NP ( JJR more ) ( NNS loans ) ) ( VP ( VBG going ) ( ADJP-PRD ( JJ sour ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

But it does that at the cost of deepening the taxpayer 's exposure if the FHA is forced to pay for more loans going sour


( S ( S ( NP-SBJ ( DT This ) ) ( VP ( VBZ is ) ( NP-PRD ( DT no ) ( JJ idle ) ( NN fear ) ) ) ) ( S ( NP-TMP ( JJ last ) ( NN year ) ) ( NP-SBJ ( DT the ) ( NNP FHA ) ) ( VP ( VBD lost ) ( NP ( NP ( QP ( CD 4.2 ) ( CD billion ) ) ) ( PP ( IN in ) ( NP ( NN loan ) ( NNS defaults ) ) ) ) ) ) )

This is no idle fear last year the FHA lost 4.2 billion in loan defaults


( S ( CC But ) ( NP-SBJ ( DT the ) ( JJR higher ) ( NN mortgage ) ( NN ceiling ) ) ( VP ( VBZ is ) ( NP-PRD ( NP ( RB only ) ( DT the ) ( JJ starter ) ( NN kit ) ) ( PP ( IN for ) ( SBAR-NOM ( WHNP-1 ( WP what ) ) ( S ( NP-SBJ ( NP ( NNP Senator ) ( NNP Alan ) ( NNP Cranston ) ) ( CC and ) ( NP ( NNP Majority ) ( NNP Leader ) ( NNP George ) ( NNP Mitchell ) ) ) ( VP ( VBP have ) ( PP-CLR ( IN in ) ( NP ( NN mind ) ) ) ( PP-PRP ( IN for ) ( NP ( NN housing ) ) ) ) ) ) ) ) ) )

But the higher mortgage ceiling is only the starter kit for what Senator Alan Cranston and Majority Leader George Mitchell have in mind for housing


( S ( NP-SBJ ( DT The ) ( NNP Senate ) ( NNP Banking ) ( NNP Committee ) ) ( VP ( MD will ) ( VP ( VB begin ) ( NP ( NP ( NNS hearings ) ) ) ( PP-TMP ( IN next ) ( NP ( NN week ) ) ) ( PP-LOC-1 ( IN on ) ( NP ( PRP$ their ) ( NN proposal ) ( S ( VP ( TO to ) ( VP ( VB expand ) ( NP ( VBG existing ) ( JJ federal ) ( NN housing ) ( NNS programs ) ) ) ) ) ) ) ) ) )

The Senate Banking Committee will begin hearings next week on their proposal to expand existing federal housing programs


( S ( NP-SBJ-1 ( JJ Other ) ( NNP Senators ) ) ( VP ( VBP want ) ( S ( VP ( TO to ) ( VP ( VB lower ) ( NP ( NP ( DT the ) ( JJ down ) ( NNS payments ) ) ( VP ( VBN required ) ( PP-LOC ( IN on ) ( NP ( JJ FHA-insured ) ( NNS loans ) ) ) ) ) ) ) ) ) )

Other Senators want to lower the down payments required on FHA-insured loans


( S ( NP-SBJ ( DT That ) ) ( VP ( MD would ) ( VP ( VB be ) ( NP-PRD ( NP ( DT a ) ( NN formula ) ) ( PP ( IN for ) ( S-NOM ( VP ( VBG ensuring ) ( NP ( ADJP ( RB even ) ( JJR more ) ) ( NNP FHA ) ( JJ red ) ( NN ink ) ) ) ) ) ) ) ) )

That would be a formula for ensuring even more FHA red ink


( S ( NP-SBJ ( NN Experience ) ) ( VP ( VBZ has ) ( VP ( VBN shown ) ( SBAR ( IN that ) ( S ( NP-SBJ ( NP ( DT the ) ( ADJP ( RBS most ) ( JJ important ) ) ( NN element ) ) ( PP-LOC ( IN in ) ( S-NOM ( VP ( VBG predicting ) ( NP ( DT a ) ( NN housing-loan ) ( NN default ) ) ) ) ) ) ( VP ( VBZ is ) ( NP-PRD ( DT the ) ( JJ down ) ( NN payment ) ) ) ) ) ) ) )

Experience has shown that the most important element in predicting a housing-loan default is the down payment


( S ( SBAR-PRP ( IN Because ) ( S ( NP-SBJ ( DT a ) ( NN purchaser ) ) ( VP ( MD can ) ( VP ( VB use ) ( NP-2 ( DT an ) ( NNP FHA ) ( NN loan ) ) ( S-CLR ( VP ( TO to ) ( VP ( VB finance ) ( NP ( DT all ) ( NX ( NX ( NNS points ) ) ( CC and ) ( NX ( NN closing ) ( NNS costs ) ) ) ) ) ) ) ) ) ) ) ( NP-SBJ-1 ( DT the ) ( NNP FHA ) ) ( VP ( MD can ) ( VP ( VB wind ) ( PRT ( RP up ) ) ( S ( VP ( VBG lending ) ( NP ( NP ( JJR more ) ) ( SBAR ( IN than ) ( S ( NP-SBJ ( DT a ) ( NN house ) ) ( VP ( VBZ is ) ( ADJP-PRD ( IN worth ) ) ) ) ) ) ) ) ) ) )

Because a purchaser can use an FHA loan to finance all points and closing costs the FHA can wind up lending more than a house is worth


( S ( SBAR ( IN If ) ( S ( NP-SBJ-1 ( NN housing ) ( NNS prices ) ) ( VP ( VBP continue ) ( S ( VP ( TO to ) ( VP ( VB fall ) ) ) ) ) ) ) ( NP-SBJ-2 ( JJ many ) ( NNS borrowers ) ) ( VP ( MD would ) ( VP ( VB be ) ( ADVP-PRD ( JJR better ) ( RP off ) ) ( S ( VP ( VP ( VBG walking ) ( ADVP-DIR ( RB away ) ) ( PP-DIR ( IN from ) ( NP ( PRP$ their ) ( NNS homes ) ) ) ) ( CC and ) ( VP ( VBG leaving ) ( NP ( NNS taxpayers ) ) ( PP-CLR ( IN with ) ( NP ( DT the ) ( NNS losses ) ) ) ) ) ) ) ) )

If housing prices continue to fall many borrowers would be better off walking away from their homes and leaving taxpayers with the losses


( S ( NP-SBJ ( RB Much ) ( DT the ) ( JJ same ) ( NN thing ) ) ( VP ( VP ( VBD happened ) ( PP ( IN with ) ( NP ( JJ busted ) ( NNS S&Ls ) ) ) ) ( NP ( NP ( DT a ) ( NN problem ) ) ( SBAR ( S ( NP-SBJ ( NNP Congress ) ) ( ADVP ( RB just ) ) ( VP ( VBD solved ) ( PP-CLR ( IN with ) ( NP ( DT a ) ( ADJP ( QP ( CD 166 ) ( CD billion ) ) ) ( NN bailout ) ) ) ) ) ) ) ) )

Much the same thing happened with busted S&Ls a problem Congress just solved with a 166 billion bailout


( S ( NP-SBJ ( PRP We ) ) ( VP ( VBP hear ) ( SBAR ( IN that ) ( S ( NP-SBJ-1 ( NNP HUD ) ( NNP Secretary ) ( NNP Jack ) ( NNP Kemp ) ) ( VP ( VBZ is ) ( VP ( VBG toying ) ( PP-CLR ( IN with ) ( S-NOM ( VP ( VBG going ) ( PRT ( RP along ) ) ( PP ( IN with ) ( NP ( NP ( DT some ) ) ( PP ( IN of ) ( NP ( DT the ) ( NNP Cranston-Mitchell ) ( NNS proposals ) ) ) ) ) ) ) ) ) ) ) ) ) )

We hear that HUD Secretary Jack Kemp is toying with going along with some of the Cranston-Mitchell proposals


( S ( NP-SBJ ( DT That ) ) ( VP ( VBZ sounds ) ( PP-CLR ( IN like ) ( NP ( NP ( DT a ) ( NN formula ) ) ( PP ( IN for ) ( S-NOM ( VP ( VBG ensuring ) ( SBAR ( IN that ) ( S ( NP-SBJ-1 ( PRP he ) ) ( VP ( VBZ gets ) ( VP ( VBN dragged ) ( PP-DIR ( IN into ) ( NP ( DT the ) ( JJ next ) ( NNP HUD ) ( NN tar ) ( NN pit ) ) ) ) ) ) ) ) ) ) ) ) ) )

That sounds like a formula for ensuring that he gets dragged into the next HUD tar pit


( S ( NP-SBJ-2 ( NP ( DT A ) ( NN group ) ) ( PP ( IN of ) ( NP ( CD 27 ) ( NNPS Senators ) ) ) ) ( VP ( VBZ has ) ( VP ( VBN written ) ( NP ( NNP Mr. ) ( NNP Kemp ) ) ( S-ADV ( VP ( VBG urging ) ( NP-1 ( PRP him ) ) ( S ( VP ( TO to ) ( VP ( VP ( VP ( VB reject ) ( NP ( NNP Cranston-Mitchell ) ) ) ( CC and ) ( VP ( VB focus ) ( PP-CLR ( IN on ) ( NP ( NP ( NNS programs ) ) ( SBAR ( WHNP-29 ( WDT that ) ) ( S ( VP ( VBP empower ) ( NP ( DT the ) ( JJ poor ) ) ) ) ) ) ) ) ) ( CONJP ( RB rather ) ( IN than ) ) ( VP ( VB create ) ( NP ( JJ vast ) ( JJ new ) ( NN government ) ( NNS obligations ) ) ) ) ) ) ) ) ) ) )

A group of 27 Senators has written Mr. Kemp urging him to reject Cranston-Mitchell and focus on programs that empower the poor rather than create vast new government obligations


( S ( CC But ) ( SBAR-ADV ( RB even ) ( IN if ) ( S ( NP-SBJ ( PRP he ) ) ( VP ( VBZ agrees ) ) ) ) ( S ( NP-SBJ ( NNP Mr. ) ( NNP Kemp ) ) ( VP ( VBZ does ) ( RB n't ) ( VP ( VB write ) ( NP ( NP ( DT the ) ( NN nation ) ( POS 's ) ) ( NN housing ) ( NN law ) ) ) ) ) ( S ( NP-SBJ ( NNP Congress ) ) ( VP ( VBZ does ) ) ) )

But even if he agrees Mr. Kemp does n't write the nation 's housing law Congress does


( S ( CC And ) ( NP-SBJ ( NP ( DT the ) ( NN majority ) ) ( PP ( IN of ) ( NP ( NNS Members ) ) ) ) ( ADVP-MNR ( RB cynically ) ) ( VP ( VBP view ) ( NP ( NP ( DT the ) ( JJ current ) ( NN discrediting ) ) ( PP ( IN of ) ( NP ( NNP HUD ) ) ) ) ( PP-CLR ( IN as ) ( ADVP ( RB mainly ) ) ( NP ( DT a ) ( NN chance ) ( S ( VP ( TO to ) ( VP ( VB shove ) ( PRT ( RP through ) ) ( NP ( NP ( PRP$ their ) ( JJ own ) ( NN slate ) ) ( PP ( IN of ) ( NP ( NNS projects ) ) ) ) ) ) ) ) ) ) )

And the majority of Members cynically view the current discrediting of HUD as mainly a chance to shove through their own slate of projects


( S ( NP-SBJ ( NN Exhibit ) ( NN A ) ) ( VP ( VBZ is ) ( NP-PRD ( NP ( JJ last ) ( NN week ) ( POS 's ) ) ( NNP House ) ( NN vote ) ( S ( VP ( TO to ) ( VP ( VB fund ) ( NP ( CD 40 ) ( JJ pet ) ( NNS projects ) ) ( PP-MNR ( IN out ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( JJ same ) ( JJ discretionary ) ( NN fund ) ) ( SBAR ( WHNP-30 ( WDT that ) ) ( S ( VP ( VBZ is ) ( PP-LOC-PRD ( IN at ) ( NP ( NP ( DT the ) ( NN heart ) ) ( PP ( IN of ) ( NP ( DT the ) ( NNP HUD ) ( NN scandal ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Exhibit A is last week 's House vote to fund 40 pet projects out of the same discretionary fund that is at the heart of the HUD scandal


( S ( NP-SBJ-1 ( NP ( NN None ) ) ( PP ( IN of ) ( NP ( DT the ) ( NNS grants ) ) ) ) ( VP ( VP ( VBD had ) ( VP ( VBN been ) ( VP ( VP ( VBN requested ) ( PP ( IN by ) ( NP-LGS ( NNP HUD ) ) ) ) ( VP ( VBN judged ) ( ADVP-MNR ( RB competitively ) ) ) ) ) ) ( CC or ) ( VP ( VBD were ) ( NP-PRD ( NP ( DT the ) ( NN subject ) ) ( PP ( IN of ) ( NP ( DT a ) ( JJ single ) ( NN hearing ) ) ) ) ) ) )

None of the grants had been requested by HUD judged competitively or were the subject of a single hearing


( S ( NP-SBJ ( ADJP ( JJR More ) ( CC and ) ( JJR more ) ) ( NNS observers ) ) ( ADVP-TMP ( RB now ) ) ( VP ( VBP realize ) ( SBAR ( IN that ) ( S ( NP-SBJ ( NP ( DT the ) ( NN key ) ) ( PP ( TO to ) ( S-NOM ( VP ( VBG ending ) ( NP ( JJ future ) ( NNP HUD ) ( NNS scandals ) ) ) ) ) ) ( VP ( VBZ lies ) ( PP-LOC-CLR ( IN in ) ( S-NOM ( VP ( VBG forcing ) ( S ( NP-SBJ ( NNP Congress ) ) ( VP ( TO to ) ( VP ( VB clean ) ( PRT ( RP up ) ) ( NP ( PRP$ its ) ( JJ own ) ( NN act ) ) ) ) ) ) ) ) ) ) ) ) )

More and more observers now realize that the key to ending future HUD scandals lies in forcing Congress to clean up its own act


( S ( NP-TMP ( DT This ) ( NN week ) ) ( NP-SBJ ( DT a ) ( NNP Baltimore ) ( NNP Sun ) ( NN editorial ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( NP ( DT the ) ( NNP Lantos ) ( NN subcommittee ) ) ( PP ( IN on ) ( NP ( NNP HUD ) ) ) ) ( VP ( MD should ) ( VP ( VP ( VB forget ) ( PP-CLR ( IN about ) ( NP ( NP ( NNP Sam ) ( NNP Pierce ) ( POS 's ) ) ( NN testimony ) ) ) ( PP-TMP ( IN for ) ( NP ( DT the ) ( NN moment ) ) ) ) ( CC and ) ( VP ( VB call ) ( NP ( NP ( DT some ) ( JJ other ) ( NNS witnesses ) ) ( NP ( NP ( DT the ) ( JJ various ) ( JJ congressional ) ( NNS sponsors ) ) ( PP ( IN of ) ( NP ( DT the ) ( CD 40 ) ( JJ pork-barrel ) ( NNS projects ) ) ) ) ) ) ) ) ) ) ) )

This week a Baltimore Sun editorial said the Lantos subcommittee on HUD should forget about Sam Pierce 's testimony for the moment and call some other witnesses the various congressional sponsors of the 40 pork-barrel projects


( S ( NP-SBJ ( DT The ) ( NNP Sun ) ) ( VP ( VBD concluded ) ( SBAR ( IN that ) ( S ( NP-SBJ ( NNP Mr. ) ( NNP Pierce ) ) ( VP ( VBZ is ) ( NP-PRD ( NP ( NP ( RB only ) ( NN part ) ) ( PP ( IN of ) ( NP ( DT the ) ( NN problem ) ) ) ) ( CC and ) ( NP ( NP ( DT a ) ( NN part ) ) ( SBAR ( WHNP-31 ( WDT that ) ) ( S ( VP ( VBZ 's ) ( ADJP-PRD ( VBN gone ) ) ) ) ) ) ) ) ) ) ) )

The Sun concluded that Mr. Pierce is only part of the problem and a part that 's gone


( S-3 ( SBAR-ADV ( IN If ) ( S ( NP-SBJ-1 ( NNP HUD ) ) ( VP ( VBZ is ) ( S ( VP ( TO to ) ( VP ( VB be ) ( VP ( VBN reformed ) ) ) ) ) ) ) ) ( PRN ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBD concluded ) ) ) ) ( NP-SBJ-4 ( NP ( NNPS Members ) ) ( PP ( IN of ) ( NP ( NNP Congress ) ) ) ) ( VP ( MD will ) ( VP ( VB have ) ( S ( VP ( TO to ) ( VP ( VB start ) ( S ( VP ( VP ( VBG looking ) ( PP ( IN into ) ) ) ( CC and ) ( VP ( VBG doing ) ( NP ( NN something ) ) ( PP ( IN about ) ) ) ( NP-6 ( NP ( DT the ) ( NNS practices ) ) ( PP ( IN of ) ( NP ( PRP$ their ) ( NNS colleagues ) ) ) ) ) ) ) ) ) ) ) )

If HUD is to be reformed it concluded Members of Congress will have to start looking into and doing something about the practices of their colleagues


( S ( PP ( IN Of ) ( NP ( NN course ) ) ) ( NP-SBJ ( NN self-reform ) ) ( VP ( VBZ is ) ( NP-PRD ( NP ( RB about ) ( DT the ) ( JJ last ) ( NN thing ) ) ( SBAR ( S ( NP-SBJ ( DT this ) ( NNP Congress ) ) ( VP ( VBZ is ) ( ADJP-PRD ( JJ interested ) ( PP ( IN in ) ) ) ) ) ) ) ) )

Of course self-reform is about the last thing this Congress is interested in


( S ( NP-SBJ ( NP ( NNS Proponents ) ) ( PP ( IN of ) ( S-NOM ( VP ( VBG expanding ) ( NP ( NNP FHA ) ( NNS programs ) ) ) ) ) ) ( VP ( VBP say ) ( SBAR ( S ( NP-SBJ-1 ( PRP they ) ) ( ADVP ( RB merely ) ) ( VP ( VBP want ) ( S ( VP ( TO to ) ( VP ( VB help ) ( NP ( NP ( NN home ) ( NNS buyers ) ) ( SBAR ( WHNP-32 ( WP who ) ) ( S ( VP ( VBP are ) ( VP ( VBN frozen ) ( PP-CLR ( IN out ) ( PP ( IN of ) ( NP ( JJ high-priced ) ( NNS markets ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Proponents of expanding FHA programs say they merely want to help home buyers who are frozen out of high-priced markets


( S ( CC But ) ( NP-SBJ ( DT the ) ( NNP FHA ) ( NN program ) ) ( VP ( VBZ is ) ( VP ( VBG hemorrhaging ) ( NP ( JJ bad ) ( NNS loans ) ) ) ) )

But the FHA program is hemorrhaging bad loans


( S ( S ( NP-SBJ ( NNP Jack ) ( NNP Kemp ) ) ( VP ( VBZ has ) ( VP ( VBN submitted ) ( NP ( NP ( DT a ) ( NN package ) ) ( PP ( IN of ) ( NP ( NNS reforms ) ) ) ) ) ) ) ( CC and ) ( S ( NP-SBJ ( PRP they ) ) ( VP ( VBP are ) ( ADVP ( RB surely ) ) ( VP ( VBN headed ) ( PP-DIR ( IN for ) ( NP ( DT the ) ( NNP Capitol ) ( NNP Hill ) ( NN sausage-grinder ) ) ) ) ) ) )

Jack Kemp has submitted a package of reforms and they are surely headed for the Capitol Hill sausage-grinder


( S ( PP ( IN Like ) ( NP ( NP ( DT the ) ( NNP S&L ) ( NN mess ) ) ( PP-TMP ( IN before ) ( NP ( PRP it ) ) ) ) ) ( NP-SBJ ( DT this ) ) ( VP ( VBZ is ) ( NP-PRD ( NP ( DT a ) ( NN problem ) ) ( SBAR ( S ( NP-SBJ ( NNP Congress ) ) ( VP ( MD should ) ( VP ( VB be ) ( VP ( VP ( VBG solving ) ) ( VP ( RB not ) ( VBG ignoring ) ) ) ) ) ) ) ) ) )

Like the S&L mess before it this is a problem Congress should be solving not ignoring


( S ( NP-SBJ ( NP ( NNP Unocal ) ( NNP Corp. ) ) ( NP-LOC ( NNP Los ) ( NNP Angeles ) ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( NP ( PRP it ) ) ( CC and ) ( NP ( NNP Petroleos ) ( FW de ) ( NNP Venezuela ) ( NNP S.A. ) ) ) ( VP ( MD would ) ( VP ( VB create ) ( NP ( DT a ) ( NN petroleum ) ( NN marketing ) ( CC and ) ( NN refining ) ( JJ general ) ( NN partnership ) ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( NNP Midwest ) ) ) ) ) ) ) ) )

Unocal Corp. Los Angeles said it and Petroleos de Venezuela S.A. would create a petroleum marketing and refining general partnership in the Midwest


( S ( S-TPC-1 ( NP-SBJ ( NP ( DT The ) ( JJ joint ) ( NN venture ) ) ( NP ( NNP Uno-Ven ) ( NNP Co. ) ) ) ( VP ( MD would ) ( VP ( VP ( VB generate ) ( NP ( NP ( JJ total ) ( JJ annual ) ( NN revenue ) ) ( PP ( IN of ) ( NP ( QP ( RB about ) ( CD 500 ) ( CD million ) ) ) ) ) ) ( CC and ) ( VP ( VB have ) ( NP ( CD 1,100 ) ( NNS employees ) ) ) ) ) ) ( NP-SBJ ( DT a ) ( NNP Unocal ) ( NN spokesman ) ) ( VP ( VBD said ) ) )

The joint venture Uno-Ven Co. would generate total annual revenue of about 500 million and have 1,100 employees a Unocal spokesman said


( S ( NP-SBJ ( NNP Unocal ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( DT the ) ( NN venture ) ) ( VP ( MD would ) ( VP ( VB enable ) ( S ( NP-SBJ ( PRP it ) ) ( VP ( TO to ) ( VP ( VP ( VB recover ) ( NP ( NP ( JJR more ) ) ( PP ( IN of ) ( NP ( PRP$ its ) ( NN refining ) ( CC and ) ( NN marketing ) ( NN investment ) ) ) ) ) ( CC and ) ( VP ( VB prepare ) ( PP-CLR ( IN for ) ( NP ( NP ( JJ expected ) ( NN growth ) ) ( PP-LOC ( IN in ) ( NP ( NP ( NN exploration ) ) ( NP ( NN production ) ) ( NP ( NNS chemicals ) ) ( CC and ) ( NP ( JJ other ) ( NNS areas ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Unocal said the venture would enable it to recover more of its refining and marketing investment and prepare for expected growth in exploration production chemicals and other areas


( S ( NP-SBJ ( PRP It ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( NN financing ) ) ( VP ( MD would ) ( VP ( VB consist ) ( PP-CLR ( IN of ) ( NP ( NP ( NP ( CD 250 ) ( CD million ) ) ( PP ( IN from ) ( NP ( DT a ) ( JJ private ) ( NN placement ) ) ) ( VP ( VBN obtained ) ( PP-MNR ( IN through ) ( NP ( NNP Shearson ) ( NNP Lehman ) ( NNP Hutton ) ( NNP Inc. ) ) ) ) ) ( CC and ) ( NP ( NP ( DT a ) ( ADJP ( QP ( CD 150 ) ( CD million ) ) ) ( JJ revolving ) ( NN credit ) ( NN line ) ) ( VP ( VBN underwritten ) ( PP ( IN by ) ( NP-LGS ( NNP Chase ) ( NNP Manhattan ) ( NNP Bank ) ) ) ) ) ) ) ) ) ) ) ) )

It said financing would consist of 250 million from a private placement obtained through Shearson Lehman Hutton Inc. and a 150 million revolving credit line underwritten by Chase Manhattan Bank


( S ( PP ( IN In ) ( NP ( NP ( NN addition ) ) ( PP ( TO to ) ( NP ( NP ( NP ( NNP Unocal ) ( POS 's ) ) ( CD 153,000 ) ( JJ barrel-a-day ) ( NN refinery ) ) ( PP-LOC ( IN near ) ( NP ( NP ( NNP Lemont ) ) ( NP ( NNP Ill. ) ) ) ) ) ) ) ) ( NP-SBJ ( DT the ) ( JJ new ) ( NN venture ) ) ( VP ( MD would ) ( VP ( VB control ) ( NP ( NP ( CD 17 ) ( NN distribution ) ( NNS terminals ) ) ( NP ( DT a ) ( NN lubricating-oil ) ( NN blending ) ( CC and ) ( NN packaging ) ( NN plant ) ) ( CC and ) ( NP ( CD 131 ) ( JJ company-owned ) ( NNP Unocal ) ( NN service ) ( NNS stations ) ) ) ) ) )

In addition to Unocal 's 153,000 barrel-a-day refinery near Lemont Ill. the new venture would control 17 distribution terminals a lubricating-oil blending and packaging plant and 131 company-owned Unocal service stations


( S ( NP-SBJ ( PRP It ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( NP ( DT the ) ( NN venture ) ) ( VP ( VBN expected ) ( S ( VP ( TO to ) ( VP ( VB take ) ( NP-CLR ( NN control ) ) ( PP-CLR ( IN of ) ( NP ( DT the ) ( NNS facilities ) ) ) ( NP-TMP ( NNP Dec. ) ( CD 1 ) ) ) ) ) ) ) ( VP ( MD would ) ( ADVP ( RB also ) ) ( VP ( VB serve ) ( NP ( DT another ) ( CD 3,300 ) ( JJ independent ) ( NNP Unocal ) ( NN gasoline ) ( NNS stations ) ) ) ) ) ) ) )

It said the venture expected to take control of the facilities Dec. 1 would also serve another 3,300 independent Unocal gasoline stations


( S ( S-TPC-1 ( NP-SBJ ( NNP Petroleos ) ) ( VP ( MD will ) ( VP ( VB supply ) ( NP ( NP ( CD 135,000 ) ( NNS barrels ) ) ( PP ( IN of ) ( NP ( NN oil ) ) ) ( NP-ADV ( DT a ) ( NN day ) ) ) ( PP-CLR ( IN for ) ( NP ( DT the ) ( NN refinery ) ) ) ) ) ) ( NP-SBJ ( NNP Unocal ) ) ( VP ( VBD said ) ) )

Petroleos will supply 135,000 barrels of oil a day for the refinery Unocal said


( NP-TTL ( NN Trial ) ( CC and ) ( NN Terror ) )

Trial and Terror


( S ( PP-TMP ( IN At ) ( NP ( NNS times ) ) ) ( NP-SBJ-3 ( PRP I ) ) ( VP ( VBP sequester ) ( NP ( PRP$ my ) ( NN mind ) ) ( SBAR-TMP ( WHADVP ( WRB When ) ) ( S ( NP-SBJ ( PRP I ) ) ( VP ( MD must ) ( VP ( VB think ) ( PP-CLR ( IN with ) ( NP ( NN precision ) ) ) ) ) ) ) ( S-ADV ( ADJP-PRD ( VBN Detached ) ( PP-CLR ( IN from ) ( NP ( DT all ) ( JJ other ) ( NNS thoughts ) ) ) ) ( SBAR-TMP ( IN While ) ( S ( VP ( VBG trying ) ( S ( VP ( TO to ) ( VP ( VB reach ) ( NP ( DT a ) ( NN decision ) ) ) ) ) ) ) ) ) ) )

At times I sequester my mind When I must think with precision Detached from all other thoughts While trying to reach a decision


( S ( S ( CC But ) ( ADVP-TMP ( RB often ) ) ( NP-SBJ ( NN nothing ) ) ( VP ( VBZ 's ) ( ADJP-PRD ( VBN resolved ) ) ( PP ( TO To ) ( NP ( PRP$ my ) ( NN frustration ) ( CC and ) ( NN fury ) ) ) ) ) ( S ( SBAR ( IN With ) ( S ( NP-SBJ ( NNS pros ) ( CC and ) ( NNS cons ) ) ( PP-PRD ( IN in ) ( NP ( NN limbo ) ) ) ) ) ( NP-SBJ ( PRP I ) ) ( VP ( VBP feel ) ( PP-CLR ( IN like ) ( NP ( DT a ) ( JJ hung ) ( NN jury ) ) ) ) ) )

But often nothing 's resolved To my frustration and fury With pros and cons in limbo I feel like a hung jury


( NP ( NNP Arnold ) ( NNP J. ) ( NNP Zarett ) )

Arnold J. Zarett


Daffynition


( FRAG ( NP ( NP ( NN Rodeo ) ( NN applause ) ) ( NP ( NNS broncs ) ( NN cheer ) ) ) )

Rodeo applause broncs cheer


Marvin Alisky


( S ( NP-SBJ-1 ( DT The ) ( NNP Treasury ) ) ( VP ( NNS plans ) ( S ( VP ( TO to ) ( VP ( VB raise ) ( NP ( NP ( QP ( CD 2.3 ) ( CD billion ) ) ) ( PP ( IN in ) ( NP ( JJ new ) ( NN cash ) ) ) ) ( PP ( IN with ) ( NP ( NP ( DT the ) ( NN sale ) ) ( NP-TMP ( NNP Monday ) ) ( PP ( IN of ) ( NP ( NP ( QP ( RB about ) ( CD 16 ) ( CD billion ) ) ) ( PP ( IN in ) ( NP ( JJ short-term ) ( NNS bills ) ) ) ) ) ) ) ( S-PRP ( VP ( TO to ) ( VP ( VB redeem ) ( NP ( NP ( QP ( CD 13.71 ) ( CD billion ) ) ) ( PP ( IN in ) ( NP ( VBG maturing ) ( NNS bills ) ) ) ) ) ) ) ) ) ) ) )

The Treasury plans to raise 2.3 billion in new cash with the sale Monday of about 16 billion in short-term bills to redeem 13.71 billion in maturing bills


( S ( ADVP ( RB However ) ) ( NP-SBJ ( DT the ) ( NNP Treasury ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( PRP it ) ) ( VP ( MD will ) ( VP ( VB postpone ) ( NP ( DT the ) ( NN auction ) ) ( SBAR-ADV ( IN unless ) ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBZ has ) ( NP ( NP ( NNS assurances ) ) ( PP ( IN of ) ( NP ( NP ( NN enactment ) ) ( PP ( IN of ) ( NP ( NP ( NN legislation ) ) ( SBAR ( S ( VP ( TO to ) ( VP ( VB raise ) ( NP ( DT the ) ( JJ statutory ) ( NN debt ) ( NN limit ) ) ) ) ) ) ) ) ) ) ) ( PP-TMP ( IN before ) ( NP ( DT the ) ( JJ scheduled ) ( NN auction ) ( NN date ) ) ) ) ) ) ) ) ) ) ) )

However the Treasury said it will postpone the auction unless it has assurances of enactment of legislation to raise the statutory debt limit before the scheduled auction date


( S ( NP-SBJ-1 ( DT The ) ( NN offering ) ) ( VP ( MD will ) ( VP ( VB be ) ( VP ( VBN divided ) ( ADVP-MNR ( RB evenly ) ) ( PP ( IN between ) ( NP ( NP ( ADJP ( JJ 13-week ) ( CC and ) ( JJ 26-week ) ) ( NNS bills ) ) ( VP ( VBG maturing ) ( PP-TMP-CLR ( IN on ) ( NP ( NP ( NNP Feb. ) ( CD 8 ) ( CD 1990 ) ) ( CC and ) ( NP ( NNP May ) ( CD 10 ) ( CD 1990 ) ) ( ADVP ( RB respectively ) ) ) ) ) ) ) ) ) ) )

The offering will be divided evenly between 13-week and 26-week bills maturing on Feb. 8 1990 and May 10 1990 respectively


( S ( NP-SBJ-1 ( NP ( NP ( NNS Tenders ) ) ( PP ( IN for ) ( NP ( DT the ) ( NNS bills ) ) ) ) ( ADJP ( JJ available ) ( PP ( IN in ) ( NP ( JJ minimum ) ( ADJP ( CD 10,000 ) ) ( NNS denominations ) ) ) ) ) ( VP ( MD must ) ( VP ( VB be ) ( VP ( VBN received ) ( PP-TMP ( IN by ) ( NP ( NP ( CD 1 ) ( NN p.m. ) ( NNP EST ) ) ( NP ( NNP Monday ) ) ) ) ( PP-LOC ( PP ( IN at ) ( NP ( DT the ) ( NNP Treasury ) ) ) ( CC or ) ( PP ( IN at ) ( NP ( NNP Federal ) ( NNP Reserve ) ( NNS banks ) ( CC or ) ( NNS branches ) ) ) ) ) ) ) )

Tenders for the bills available in minimum 10,000 denominations must be received by 1 p.m. EST Monday at the Treasury or at Federal Reserve banks or branches


( S ( NP-SBJ ( NP ( DT A ) ( JJ permanent ) ( NN smoking ) ( NN ban ) ) ( PP ( IN on ) ( NP ( ADJP ( RB virtually ) ( DT all ) ) ( JJ domestic ) ( NN airline ) ( NNS routes ) ) ) ) ( VP ( VBD won ) ( NP ( NP ( NN approval ) ) ( PP ( IN from ) ( NP ( NP ( DT the ) ( NNP House ) ) ( SBAR ( WHNP-78 ( WDT which ) ) ( S ( ADVP-MNR ( RB separately ) ) ( VP ( VBD sent ) ( PP-DIR ( TO to ) ( NP ( NNP President ) ( NNP Bush ) ) ) ( NP ( NP ( DT a ) ( ADJP ( QP ( RB nearly ) ( CD 67 ) ( CD billion ) ) ) ( JJ fiscal ) ( CD 1990 ) ( NN bill ) ) ( PP ( VBG including ) ( NP ( NP ( DT the ) ( JJ first ) ( NN construction ) ( NNS funds ) ) ( PP ( IN for ) ( NP ( DT the ) ( NN space ) ( NN station ) ) ) ) ) ) ) ) ) ) ) ) ) )

A permanent smoking ban on virtually all domestic airline routes won approval from the House which separately sent to President Bush a nearly 67 billion fiscal 1990 bill including the first construction funds for the space station


( S ( NP-SBJ ( DT The ) ( NN smoking ) ( NN prohibition ) ) ( VP ( VBZ remains ) ( ADJP-PRD ( JJ attached ) ( PP ( TO to ) ( NP ( NP ( DT a ) ( ADJP ( QP ( CD 27.1 ) ( CD billion ) ) ) ( NN transportation ) ( NN bill ) ) ( SBAR ( WHNP-79 ( WDT that ) ) ( S ( VP ( MD must ) ( ADVP-TMP ( RB still ) ) ( VP ( VB overcome ) ( NP ( NP ( NN budget ) ( NNS obstacles ) ) ( PP-LOC ( IN in ) ( NP ( NNP Congress ) ) ) ) ) ) ) ) ) ) ) ) )

The smoking prohibition remains attached to a 27.1 billion transportation bill that must still overcome budget obstacles in Congress


( S ( CC But ) ( NP-SBJ ( NP ( NN yesterday ) ( POS 's ) ) ( NN action ) ) ( VP ( VBD put ) ( PP-PUT ( TO to ) ( NP ( VB rest ) ) ) ( NP ( NP ( DT any ) ( VBG lingering ) ( NN resistance ) ) ( PP ( IN from ) ( NP ( NN tobacco ) ( NNS interests ) ) ) ) ) )

But yesterday 's action put to rest any lingering resistance from tobacco interests


( S ( S-ADV ( VP ( VBN Faced ) ( PP-CLR ( IN with ) ( NP ( JJ inevitable ) ( NN defeat ) ) ) ) ) ( NP-SBJ-2 ( DT the ) ( RB once ) ( JJ dominant ) ( NN industry ) ) ( VP ( VBD declined ) ( NP ( NP ( DT any ) ( JJ recorded ) ( NN vote ) ) ( PP-LOC ( IN on ) ( NP ( NP ( DT the ) ( NN ban ) ) ( SBAR ( WHNP-80 ( WDT which ) ) ( S ( VP ( VBZ covers ) ( NP ( NP ( DT all ) ) ( PP ( IN but ) ( NP ( NP ( DT a ) ( NN fraction ) ) ( PP ( IN of ) ( NP ( NP ( CD 1 ) ( NN % ) ) ( PP ( IN of ) ( NP ( NP ( JJ daily ) ( NNS flights ) ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( NNP U.S. ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Faced with inevitable defeat the once dominant industry declined any recorded vote on the ban which covers all but a fraction of 1 % of daily flights in the U.S.


( S ( NP-SBJ ( DT The ) ( JJ sole ) ( NNS exceptions ) ) ( VP ( VBP are ) ( NP-PRD ( NP ( NP ( DT an ) ( JJ estimated ) ( CD 30 ) ( NNS flights ) ) ( PP ( IN of ) ( NP ( CD six ) ( NNS hours ) ( QP ( CC or ) ( RBR more ) ) ) ) ) ( VP ( VBG beginning ) ( CC or ) ( VBG ending ) ( PP-LOC ( IN in ) ( NP ( NNP Hawaii ) ( CC and ) ( NNP Alaska ) ) ) ) ) ) )

The sole exceptions are an estimated 30 flights of six hours or more beginning or ending in Hawaii and Alaska


( S ( S-ADV ( VP ( VBG Assuming ) ( NP ( JJ final ) ( NN enactment ) ) ( NP-TMP ( DT this ) ( NN month ) ) ) ) ( NP-SBJ-1 ( DT the ) ( NN prohibition ) ) ( VP ( MD will ) ( VP ( VB take ) ( NP ( NN effect ) ) ( UCP-TMP ( ADVP ( NP ( CD 96 ) ( NNS days ) ) ( RB later ) ) ( CC or ) ( PP ( IN in ) ( NP ( JJ early ) ( NNP February ) ) ) ) ) ) )

Assuming final enactment this month the prohibition will take effect 96 days later or in early February


( S ( PP-LOC ( IN On ) ( NP ( DT a ) ( JJ 394-21 ) ( NN roll ) ( NN call ) ) ) ( NP-SBJ ( DT the ) ( NNP House ) ) ( VP ( VBD adopted ) ( NP ( DT the ) ( JJ underlying ) ( NN transportation ) ( NN measure ) ) ) )

On a 394-21 roll call the House adopted the underlying transportation measure


( S ( CC But ) ( NP-SBJ ( DT the ) ( NN bill ) ) ( ADVP-TMP ( RB still ) ) ( VP ( VBZ faces ) ( NP ( NN budget ) ( NNS questions ) ) ( SBAR-PRP ( IN because ) ( S ( NP-SBJ ( PRP it ) ) ( ADVP ( RB also ) ) ( VP ( VBZ is ) ( NP-PRD ( NP ( DT the ) ( NN vehicle ) ) ( PP ( IN for ) ( NP ( NP ( DT an ) ( JJ estimated ) ( QP ( CD 3.1 ) ( CD billion ) ) ) ( PP ( IN in ) ( NP ( NP ( JJ supplemental ) ( NNS appropriations ) ) ( PP ( IN for ) ( NP ( NP ( NN law ) ( NN enforcement ) ) ( CC and ) ( NP ( JJ anti-drug ) ( NNS programs ) ) ) ) ) ) ) ) ) ) ) ) ) )

But the bill still faces budget questions because it also is the vehicle for an estimated 3.1 billion in supplemental appropriations for law enforcement and anti-drug programs


( S ( S ( NP-SBJ ( DT The ) ( JJ additional ) ( NN spending ) ) ( VP ( VBZ pushes ) ( NP ( DT the ) ( NN measure ) ) ( PP-DIR ( NP ( QP ( JJR more ) ( IN than ) ( CD 2 ) ( CD billion ) ) ) ( IN above ) ( NP ( PRP$ its ) ( JJ prescribed ) ( NN budget ) ( NN ceiling ) ) ) ) ) ( CC and ) ( S ( NP-SBJ-1 ( DT the ) ( NNP House ) ( NNP Appropriations ) ( NNP Committee ) ( NN leadership ) ) ( VP ( MD must ) ( ADVP-TMP ( RB now ) ) ( VP ( VB seek ) ( NP ( DT a ) ( NN waiver ) ) ( PP ( IN in ) ( NP ( NP ( NNS hopes ) ) ( PP ( IN of ) ( S-NOM ( VP ( VBG completing ) ( NP ( NN action ) ) ( NP-TMP ( NN today ) ) ) ) ) ) ) ) ) ) )

The additional spending pushes the measure more than 2 billion above its prescribed budget ceiling and the House Appropriations Committee leadership must now seek a waiver in hopes of completing action today


( S ( S ( NP-SBJ-1 ( NP ( DT The ) ( JJ separate ) ( ADJP ( QP ( CD 67 ) ( CD billion ) ) ) ( NN bill ) ) ( VP ( VBN sent ) ( PP-DIR ( TO to ) ( NP ( DT the ) ( NNP White ) ( NNP House ) ) ) ) ) ( VP ( VBD had ) ( NP ( NN budget ) ( NNS difficulties ) ) ( ADVP ( RB too ) ) ) ) ( CC but ) ( S ( VP ( VBD was ) ( VP ( VBN saved ) ( ADVP-TMP ( RB ultimately ) ) ( PP ( IN by ) ( NP-LGS ( NP ( PRP$ its ) ( NN importance ) ) ( PP ( TO to ) ( NP ( NP ( DT a ) ( JJ broad ) ( NN spectrum ) ) ( PP ( IN of ) ( NP ( NP ( NNS interests ) ) ( PP-LOC ( IN in ) ( NP ( NP ( NNP Congress ) ) ( CC and ) ( NP ( NP ( DT the ) ( NN administration ) ) ( NP ( PRP itself ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

The separate 67 billion bill sent to the White House had budget difficulties too but was saved ultimately by its importance to a broad spectrum of interests in Congress and the administration itself


( S ( S ( NP-SBJ ( NP ( DT No ) ( JJ single ) ( NN bill ) ) ( NP-TMP ( DT this ) ( NN year ) ) ) ( VP ( VBZ includes ) ( NP ( NP ( JJR more ) ( JJ discretionary ) ( NN spending ) ) ( PP ( IN for ) ( NP ( JJ domestic ) ( NNS programs ) ) ) ) ) ) ( CC and ) ( S ( PP ( RB apart ) ( PP ( IN from ) ( NP ( DT the ) ( NN space ) ( NN station ) ) ) ) ( NP-SBJ ( DT the ) ( NN measure ) ) ( VP ( VBZ incorporates ) ( NP ( NP ( JJ far-reaching ) ( NNS provisions ) ) ( VP ( VBG affecting ) ( NP ( DT the ) ( JJ federal ) ( NN mortgage ) ( NN market ) ) ) ) ) ) )

No single bill this year includes more discretionary spending for domestic programs and apart from the space station the measure incorporates far-reaching provisions affecting the federal mortgage market


( S ( NP-SBJ-1 ( NP ( DT The ) ( JJ current ) ( NN ceiling ) ) ( PP-LOC ( IN on ) ( NP ( NP ( NN home ) ( NNS loans ) ) ( VP ( VBN insured ) ( PP ( IN by ) ( NP-LGS ( DT the ) ( NNP Federal ) ( NNP Housing ) ( NNP Administration ) ) ) ) ) ) ) ( VP ( VBZ is ) ( VP ( VBN increased ) ( PP-DIR ( TO to ) ( NP ( CD 124,875 ) ) ) ( PP-TMP ( IN during ) ( NP ( JJ fiscal ) ( CD 1990 ) ) ) ) ) )

The current ceiling on home loans insured by the Federal Housing Administration is increased to 124,875 during fiscal 1990


( S ( CC And ) ( PP ( IN in ) ( NP ( NP ( NN anticipation ) ) ( PP ( IN of ) ( NP ( JJ increased ) ( NN lending ) ) ) ) ) ( NP-SBJ ( NP ( DT the ) ( NN cap ) ) ( PP-LOC ( IN on ) ( NP ( NNP FHA ) ( NN loan ) ( NNS guarantees ) ) ) ) ( VP ( MD would ) ( VP ( VB rise ) ( PP-DIR ( TO to ) ( NP ( QP ( RB approximately ) ( CD 73.8 ) ( CD billion ) ) ) ) ) ) )

And in anticipation of increased lending the cap on FHA loan guarantees would rise to approximately 73.8 billion


( S ( ADVP ( RB Separately ) ) ( NP-SBJ ( DT the ) ( NN bill ) ) ( VP ( VBZ gives ) ( NP ( NN authority ) ) ( PP-DTV ( TO to ) ( NP ( NP ( DT the ) ( NNP Department ) ) ( PP ( IN of ) ( NP ( NP ( NNP Housing ) ) ( CC and ) ( NP ( NNP Urban ) ( NNP Development ) ) ) ) ) ) ( S-1 ( VP ( TO to ) ( VP ( VB facilitate ) ( NP ( NP ( DT the ) ( NN refinancing ) ) ( PP ( IN of ) ( NP ( NP ( JJ high-interest ) ( NNS loans ) ) ( VP ( VBN subsidized ) ( PP ( IN by ) ( NP-LGS ( DT the ) ( NN government ) ) ) ( PP-LOC ( IN under ) ( NP ( NP ( DT the ) ( JJ so-called ) ( NN Section ) ( CD 235 ) ( NN home-ownership ) ( NN program ) ) ( PP ( IN for ) ( NP ( JJ lower-income ) ( NNS families ) ) ) ) ) ) ) ) ) ) ) ) ) )

Separately the bill gives authority to the Department of Housing and Urban Development to facilitate the refinancing of high-interest loans subsidized by the government under the so-called Section 235 home-ownership program for lower-income families


( S ( NP-SBJ ( DT This ) ( NN provision ) ) ( VP ( VBD met ) ( NP ( NP ( ADJP ( JJ early ) ( CC and ) ( JJ strong ) ) ( NN resistance ) ) ( PP ( IN from ) ( NP ( NP ( NN investment ) ( NNS bankers ) ) ( VP ( VBN worried ) ( PP-CLR ( IN about ) ( NP ( NP ( NNS disruptions ) ) ( PP-LOC ( IN in ) ( NP ( NP ( PRP$ their ) ( NNS clients ) ( POS ' ) ) ( NNS portfolios ) ) ) ) ) ) ) ) ) ) )

This provision met early and strong resistance from investment bankers worried about disruptions in their clients ' portfolios


( S ( CC But ) ( NP-SBJ-1 ( NP ( DT the ) ( NN promise ) ) ( PP ( IN of ) ( NP ( NP ( QP ( IN at ) ( JJS least ) ( CD 15 ) ( CD million ) ) ) ( PP ( IN in ) ( NP ( JJ new ) ( NNS savings ) ) ) ) ) ) ( VP ( VBD helped ) ( S ( VP ( TO to ) ( VP ( VB forge ) ( NP ( NP ( DT a ) ( NN partnership ) ) ( PP ( IN between ) ( NP ( NP ( NNP HUD ) ( NNP Secretary ) ( NNP Jack ) ( NNP Kemp ) ) ( CC and ) ( NP ( NP ( NNS lawmakers ) ) ( VP ( VBG wanting ) ( S ( VP ( TO to ) ( VP ( VB protect ) ( NP ( NP ( PRP$ their ) ( NNS projects ) ) ( ADVP-LOC ( RB elsewhere ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

But the promise of at least 15 million in new savings helped to forge a partnership between HUD Secretary Jack Kemp and lawmakers wanting to protect their projects elsewhere


( S ( S ( NP-SBJ ( NP ( DT The ) ( JJ estimated ) ( QP ( CD 1.8 ) ( CD billion ) ) ) ( PP ( IN for ) ( NP ( DT the ) ( NN space ) ( NN station ) ) ) ) ( VP ( MD would ) ( VP ( VB be ) ( NP-PRD ( RB double ) ( NP ( JJ last ) ( NN year ) ( POS 's ) ) ( NN level ) ) ) ) ) ( CC and ) ( S ( NP-SBJ ( NP ( JJ total ) ( NNS appropriations ) ) ( PP ( IN for ) ( NP ( DT the ) ( NNP National ) ( NNP Aeronautics ) ( CC and ) ( NNP Space ) ( NNP Administration ) ) ) ) ( VP ( MD would ) ( VP ( VB grow ) ( NP-EXT ( CD 16 ) ( NN % ) ) ( PP-DIR ( TO to ) ( NP ( QP ( RB nearly ) ( CD 12.4 ) ( CD billion ) ) ) ) ) ) ) )

The estimated 1.8 billion for the space station would be double last year 's level and total appropriations for the National Aeronautics and Space Administration would grow 16 % to nearly 12.4 billion


( S ( NP-SBJ-1 ( NP ( DT A ) ( NN string ) ) ( PP ( IN of ) ( NP ( NP ( JJ costly ) ( NNS projects ) ) ( PP ( VBG including ) ( NP ( NP ( DT the ) ( JJ high-speed ) ( JJ national ) ( NN aerospace ) ( NN plane ) ) ( CC and ) ( NP ( DT the ) ( JJ advanced ) ( NNS communications ) ( NN technology ) ( NN satellite ) ) ) ) ) ) ) ( VP ( MD would ) ( VP ( VB continue ) ( S ( VP ( TO to ) ( VP ( VB be ) ( VP ( VBN developed ) ( PP-MNR ( IN within ) ( NP ( DT these ) ( NNS limits ) ) ) ) ) ) ) ) ) )

A string of costly projects including the high-speed national aerospace plane and the advanced communications technology satellite would continue to be developed within these limits


( S ( CC And ) ( SBAR-TMP ( IN while ) ( S ( VP ( VBG imposing ) ( NP ( NP ( DT a ) ( JJ statutory ) ( NN cap ) ) ( PP ( IN of ) ( NP ( QP ( CD 1.6 ) ( CD billion ) ) ) ) ( PP ( IN on ) ( NP ( JJ future ) ( NN spending ) ) ) ) ) ) ) ( NP-SBJ-1 ( DT the ) ( NN bill ) ) ( VP ( MD would ) ( VP ( VB give ) ( NP ( NNP NASA ) ) ( NP ( QP ( CD 30 ) ( CD million ) ) ) ( PP ( IN for ) ( NP ( NP ( DT the ) ( NN start-up ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( NNP CRAF-Cassini ) ( NN mission ) ) ( NP ( NP ( DT a ) ( NN successor ) ) ( PP ( TO to ) ( NP ( DT the ) ( NNP Voyager ) ( NN space ) ( NN probe ) ) ) ) ) ) ) ) ) ) )

And while imposing a statutory cap of 1.6 billion on future spending the bill would give NASA 30 million for the start-up of the CRAF-Cassini mission a successor to the Voyager space probe


( S ( ADVP ( NNP Separately ) ) ( NP-SBJ-1 ( DT the ) ( NNP National ) ( NNP Science ) ( NNP Foundation ) ) ( VP ( VBZ is ) ( VP ( VBN promised ) ( NP ( DT a ) ( ADJP ( CD 7.7 ) ( NN % ) ) ( NN increase ) ) ( S-CLR ( VP ( TO to ) ( VP ( VB bring ) ( NP ( PRP$ its ) ( NNS appropriations ) ) ( PP-DIR ( TO to ) ( NP ( QP ( CD 2.07 ) ( CD billion ) ) ) ) ) ) ) ) ) )

Separately the National Science Foundation is promised a 7.7 % increase to bring its appropriations to 2.07 billion


( S ( CC And ) ( SBAR-TMP ( IN while ) ( S ( VP ( VBG pursuing ) ( NP ( DT these ) ( NNS initiatives ) ) ) ) ) ( NP-SBJ-1 ( NP ( NNP Congress ) ) ( CC and ) ( NP ( DT the ) ( NNP White ) ( NNP House ) ) ) ( VP ( VBP are ) ( VP ( VBN squeezed ) ( ADVP ( RB too ) ) ( PP-2 ( IN by ) ( NP-LGS ( NP ( JJ steady ) ( NNS increases ) ) ( PRN ( NP ( QP ( CD 551 ) ( CD million ) ) ) ) ( PP-LOC ( IN in ) ( NP ( NP ( NN veteran ) ( POS 's ) ) ( JJ medical ) ( NN care ) ) ) ) ) ) ) )

And while pursuing these initiatives Congress and the White House are squeezed too by steady increases 551 million in veteran 's medical care


( S ( NP-SBJ ( DT The ) ( NN result ) ) ( VP ( VBZ is ) ( SBAR-PRD ( IN that ) ( S ( S ( NP-SBJ ( DT all ) ( NNS sides ) ) ( VP ( VBP resort ) ( PP-CLR ( TO to ) ( NP ( NP ( NN sleight ) ) ( PP ( IN of ) ( NP ( NN hand ) ) ) ) ) ( S-PRP ( VP ( TO to ) ( VP ( VB make ) ( NP ( NN room ) ) ( PP-CLR ( IN for ) ( NP ( VBG competing ) ( UCP ( NN housing ) ( CC and ) ( JJ environmental ) ) ( NNS programs ) ) ) ) ) ) ) ) ( CC and ) ( S ( NP-SBJ ( DT the ) ( NNS commitments ) ) ( ADVP-TMP ( RB now ) ) ( VP ( MD will ) ( VP ( VB drive ) ( NP ( JJ excess ) ( NN spending ) ) ( PP-TMP ( IN into ) ( NP ( JJ fiscal ) ( CD 1991 ) ) ) ) ) ) ) ) ) )

The result is that all sides resort to sleight of hand to make room for competing housing and environmental programs and the commitments now will drive excess spending into fiscal 1991


( S ( NP-SBJ-1 ( NP ( JJ Senior ) ( NNS members ) ) ( PP ( IN of ) ( NP ( DT the ) ( NNP House ) ( NNP Budget ) ( NNP Committee ) ) ) ) ( VP ( VBP are ) ( VP ( VP ( VBN reduced ) ( PP ( IN in ) ( NP ( NN frustration ) ) ) ( PP-CLR ( TO to ) ( S-NOM ( VP ( VBG raising ) ( NP ( JJ doomed ) ( JJ parliamentary ) ( NNS obstacles ) ) ( PP-CLR ( TO to ) ( NP ( JJ individual ) ( NNS bills ) ) ) ) ) ) ) ( CC yet ) ( VP ( VBP admit ) ( SBAR ( IN that ) ( S ( NP-SBJ ( NP ( JJ much ) ) ( PP ( IN of ) ( NP ( DT the ) ( NN disorder ) ) ) ) ( ADVP-TMP ( RB now ) ) ( VP ( VBZ stems ) ( PP-CLR ( IN from ) ( NP ( NP ( DT the ) ( JJ fiscal ) ( NN legerdemain ) ) ( VP ( VBN associated ) ( PP-CLR ( IN with ) ( NP ( NP ( PRP$ their ) ( JJ own ) ( NN summit ) ( NN agreement ) ) ( PP ( IN with ) ( NP ( DT the ) ( NNP White ) ( NNP House ) ) ) ( NP-TMP ( DT this ) ( JJ past ) ( NN spring ) ) ) ) ) ) ) ) ) ) ) ) ) )

Senior members of the House Budget Committee are reduced in frustration to raising doomed parliamentary obstacles to individual bills yet admit that much of the disorder now stems from the fiscal legerdemain associated with their own summit agreement with the White House this past spring


( S-2 ( NP-SBJ ( NP ( PRP It ) ) ) ( VP ( VBZ 's ) ( ADJP-PRD ( JJ hard ) ) ( S-3 ( VP ( TO to ) ( VP ( VB get ) ( NP ( NP ( NP ( DT the ) ( NN administration ) ( POS 's ) ) ( NN attention ) ) ( PP ( IN on ) ( NP ( NN anything ) ) ) ) ) ) ) ) ( PRN ( SINV ( VP ( VBD said ) ) ( NP-SBJ ( NP ( NNP Rep. ) ( NNP Bill ) ( NNP Frenzel ) ) ( PRN ( NP ( NNP R. ) ) ( NP-LOC ( NNP Minn. ) ) ) ) ) ) ( SBAR-PRP ( IN because ) ( S ( NP-SBJ-1 ( DT the ) ( JJ whole ) ( NN agreement ) ) ( VP ( VBD was ) ( VP ( VBN built ) ( PP-LOC-CLR ( IN on ) ( NP ( NN gimmickry ) ) ) ) ) ) ) )

It 's hard to get the administration 's attention on anything said Rep. Bill Frenzel R. Minn. because the whole agreement was built on gimmickry


( SINV ( PP-LOC-TPC-1 ( IN Among ) ( NP ( NP ( DT the ) ( NNS subsidies ) ) ( VP ( VBN continued ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( NN transportation ) ( NN bill ) ) ) ) ) ) ( VP ( VBZ is ) ) ( NP-SBJ ( NP ( QP ( CD 30.7 ) ( CD million ) ) ) ( SBAR ( S ( VP ( TO to ) ( VP ( VB maintain ) ( NP ( JJ commercial ) ( NN air ) ( NN service ) ) ( PP-CLR ( IN for ) ( NP ( NP ( DT an ) ( JJ estimated ) ( CD 92 ) ( NNS communities ) ) ( RRC ( ADVP-TMP ( RB often ) ) ( PP-LOC ( IN in ) ( NP ( JJ rural ) ( NNS areas ) ) ) ) ) ) ) ) ) ) ) )

Among the subsidies continued in the transportation bill is 30.7 million to maintain commercial air service for an estimated 92 communities often in rural areas


( S ( NP-SBJ ( NP ( NNP Senate ) ( NNP Appropriations ) ( NNP Committee ) ( NNP Chairman ) ( NNP Robert ) ( NNP Byrd ) ) ( PRN ( NP ( NNP D. ) ) ( NP-LOC ( NNP W.Va ) ) ) ) ( VP ( ADVP-MNR ( RB strongly ) ) ( VBD resisted ) ( NP ( NP ( JJR deeper ) ( NNS cuts ) ) ( VP ( VBN sought ) ( PP ( IN by ) ( NP-LGS ( DT the ) ( NNP House ) ) ) ) ) ) )

Senate Appropriations Committee Chairman Robert Byrd D. W.Va strongly resisted deeper cuts sought by the House


( S ( CC But ) ( PP-TMP ( IN at ) ( NP ( NP ( DT a ) ( NN time ) ) ( SBAR ( WHADVP-1 ( WRB when ) ) ( S ( NP-SBJ-2 ( DT the ) ( NNP White ) ( NNP House ) ) ( VP ( VBZ wants ) ( S ( VP ( TO to ) ( VP ( VB kill ) ( NP ( DT the ) ( NN entire ) ( NN program ) ) ) ) ) ) ) ) ) ) ( NP-SBJ ( NNPS Republicans ) ) ( VP ( VBP have ) ( VP ( VBN been ) ( PP-LOC-PRD ( IN among ) ( NP ( PRP$ its ) ( JJ leading ) ( NNS champions ) ) ) ) ) )

But at a time when the White House wants to kill the entire program Republicans have been among its leading champions


( S ( S ( NP-SBJ ( NP ( NNP Sen. ) ( NNP Pete ) ( NNP Domenici ) ) ( PRN ( NP ( NNP R. ) ) ( NP-LOC ( NNP N.M. ) ) ) ( NP ( NP ( DT the ) ( JJ ranking ) ( NNP Republican ) ) ( PP-LOC ( IN on ) ( NP ( DT the ) ( NNP Senate ) ( NNP Budget ) ( NNP Committee ) ) ) ) ) ( VP ( VBD used ) ( NP-1 ( PRP$ his ) ( NN influence ) ) ( S-CLR ( VP ( TO to ) ( VP ( VB preserve ) ( NP ( NP ( QP ( JJR more ) ( IN than ) ( CD 132,000 ) ) ) ( PP ( IN in ) ( NP ( NP ( NNS subsidies ) ) ( PP ( IN for ) ( NP ( NP ( NN air ) ( NN service ) ) ( PP-DIR ( TO to ) ( NP ( NP ( NNP Sante ) ( NNP Fe ) ) ( NP-LOC ( NNP N.M. ) ) ) ) ) ) ) ) ) ) ) ) ) ) ( CC and ) ( S ( NP-SBJ ( QP ( JJR more ) ( IN than ) ( CD 2.1 ) ( CD million ) ) ) ( VP ( MD would ) ( VP ( VB go ) ( PP-CLR ( IN for ) ( NP ( NP ( NN service ) ) ( PP ( TO to ) ( NP ( NP ( CD eight ) ( NNS communities ) ) ( PP-LOC ( IN in ) ( NP ( NP ( DT the ) ( JJ western ) ( NNP Nebraska ) ( NN district ) ) ( PP ( IN of ) ( NP ( NP ( NNP GOP ) ( NNP Rep. ) ( NNP Virginia ) ( NNP Smith ) ) ( PP-LOC ( IN on ) ( NP ( DT the ) ( NNP House ) ( NNP Appropriations ) ( NNP Committee ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Sen. Pete Domenici R. N.M. the ranking Republican on the Senate Budget Committee used his influence to preserve more than 132,000 in subsidies for air service to Sante Fe N.M. and more than 2.1 million would go for service to eight communities in the western Nebraska district of GOP Rep. Virginia Smith on the House Appropriations Committee


( S ( NP-SBJ ( NP ( NNP GP ) ( NNP Express ) ) ( NP ( NP ( DT an ) ( JJ independent ) ( NN airline ) ) ( VP ( VBG serving ) ( NP ( NP ( JJ much ) ) ( PP ( IN of ) ( NP ( NNP Nebraska ) ) ) ) ) ) ) ( VP ( VBZ estimates ) ( SBAR ( IN that ) ( S ( NP-SBJ ( NP ( QP ( RB nearly ) ( CD 40 ) ) ( NN % ) ) ( PP ( IN of ) ( NP ( PRP$ its ) ( NNS revenues ) ) ) ) ( VP ( VBP come ) ( PP-DIR ( IN from ) ( NP ( NP ( DT the ) ( NNS subsidies ) ) ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( PP ( IN in ) ( NP ( DT some ) ( NNS cases ) ) ) ( VP ( VBP exceed ) ( NP ( NP ( DT the ) ( NN cost ) ) ( PP ( IN of ) ( NP ( DT a ) ( NN ticket ) ) ) ) ) ) ) ) ) ) ) ) ) )

GP Express an independent airline serving much of Nebraska estimates that nearly 40 % of its revenues come from the subsidies that in some cases exceed the cost of a ticket


( S ( PP ( IN For ) ( NP ( NN example ) ) ) ( NP-SBJ ( DT a ) ( NN passenger ) ) ( VP ( MD can ) ( VP ( VB fly ) ( PP-DIR ( IN from ) ( NP ( NP ( NNP Chardon ) ) ( NP ( NNP Neb. ) ) ) ) ( PP-DIR ( TO to ) ( NP ( NNP Denver ) ) ) ( PP ( IN for ) ( NP ( QP ( RB as ) ( JJ little ) ( IN as ) ( CD 89 ) ( TO to ) ( CD 109 ) ) ) ) ( PP ( VBG according ) ( PP ( TO to ) ( NP ( NP ( NNS prices ) ) ( VP ( VBN quoted ) ( PP ( IN by ) ( NP-LGS ( DT the ) ( NN company ) ) ) ) ) ) ) ) ) )

For example a passenger can fly from Chardon Neb. to Denver for as little as 89 to 109 according to prices quoted by the company


( S ( CC But ) ( PP ( VBN given ) ( NP ( NP ( DT the ) ( JJ few ) ( NN number ) ) ( PP ( IN of ) ( NP ( NNS users ) ) ) ) ) ( NP-SBJ-1 ( NP ( DT the ) ( NN cost ) ) ( PP ( TO to ) ( NP ( DT the ) ( JJ federal ) ( NN government ) ) ) ( PP ( IN per ) ( NP ( NN passenger ) ) ) ) ( VP ( VBZ is ) ( VP ( VBN estimated ) ( PP-CLR ( IN at ) ( NP ( CD 193 ) ) ) ( PP ( VBG according ) ( PP ( TO to ) ( NP ( NNP House ) ( CC and ) ( NNP Senate ) ( NNS appropriations ) ( NNS committees ) ) ) ) ) ) )

But given the few number of users the cost to the federal government per passenger is estimated at 193 according to House and Senate appropriations committees


( S ( NP-SBJ ( DT The ) ( NNP House ) ( NN action ) ) ( NP-TMP ( NN yesterday ) ) ( VP ( VBD came ) ( SBAR ( IN as ) ( S ( NP-SBJ ( DT the ) ( NNP Senate ) ) ( VP ( VBD remained ) ( ADJP-PRD ( JJ mired ) ( PP ( IN in ) ( NP ( NP ( NNS difficulties ) ) ( PP ( IN over ) ( NP ( NP ( DT a ) ( ADJP ( QP ( CD 17.25 ) ( CD billion ) ) ) ( NN measure ) ) ( VP ( VBG covering ) ( NP ( NP ( DT the ) ( NNS budgets ) ) ( PP ( IN for ) ( NP ( DT the ) ( NNP State ) ( NNP Commerce ) ( CC and ) ( NNP Justice ) ( NNS departments ) ) ) ( PP-TMP ( IN in ) ( NP ( JJ fiscal ) ( CD 1990 ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

The House action yesterday came as the Senate remained mired in difficulties over a 17.25 billion measure covering the budgets for the State Commerce and Justice departments in fiscal 1990


( S ( S ( NP-SBJ-1 ( DT The ) ( NN compromise ) ( NN bill ) ) ( VP ( VBD passed ) ( NP ( DT the ) ( NNP House ) ) ( NP-TMP ( JJ last ) ( NN week ) ) ) ) ( CC but ) ( S ( VP ( VBZ has ) ( ADVP-TMP ( RB now ) ) ( VP ( VBN provoked ) ( NP ( JJ jurisdictional ) ( NNS fights ) ) ( PP-CLR ( IN with ) ( NP ( NP ( DT the ) ( NNP Senate ) ( NNP Foreign ) ( NNP Relations ) ( NNP Committee ) ) ( SBAR ( WHNP-81 ( WDT which ) ) ( S ( VP ( ADVP-MNR ( RB jealously ) ) ( VBZ protects ) ( NP ( NP ( PRP$ its ) ( NNS prerogatives ) ) ( PP ( IN over ) ( NP ( NP ( NNS operations ) ) ( PP-LOC ( IN at ) ( NP ( DT the ) ( NNP State ) ( NNP Department ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

The compromise bill passed the House last week but has now provoked jurisdictional fights with the Senate Foreign Relations Committee which jealously protects its prerogatives over operations at the State Department


( S ( NP-SBJ ( DT The ) ( JJ same ) ( NN jealousy ) ) ( VP ( MD can ) ( VP ( VB breed ) ( NP ( NN confusion ) ) ( ADVP ( RB however ) ) ( PP ( IN in ) ( NP ( NP ( DT the ) ( NN absence ) ) ( PP ( IN of ) ( NP ( NP ( DT any ) ( NN authorization ) ( NN bill ) ) ( NP-TMP ( DT this ) ( NN year ) ) ) ) ) ) ) ) )

The same jealousy can breed confusion however in the absence of any authorization bill this year


( S ( NP-SBJ-1 ( NNP House ) ( CC and ) ( NNP Senate ) ( NNS appropriators ) ) ( VP ( VBD sought ) ( S ( VP ( TO to ) ( VP ( VB establish ) ( NP ( NP ( DT a ) ( NNP Nov. ) ( CD 30 ) ( NN deadline ) ) ( SBAR ( WHPP-2 ( IN after ) ( WHNP ( WDT which ) ) ) ( S ( NP-SBJ ( PRP$ their ) ( NN bill ) ) ( VP ( MD would ) ( VP ( VB become ) ( NP-PRD ( NP ( DT the ) ( JJ last ) ( NN word ) ) ( PP ( IN on ) ( SBAR ( WHADVP-3 ( WRB how ) ) ( S ( NP-SBJ ( NNS funds ) ) ( VP ( VBP are ) ( VP ( VBN distributed ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

House and Senate appropriators sought to establish a Nov. 30 deadline after which their bill would become the last word on how funds are distributed


( S ( CC But ) ( PP-LOC ( IN on ) ( NP ( DT a ) ( JJ 53-45 ) ( NN roll ) ( NN call ) ) ) ( NP-SBJ-1 ( DT this ) ( NN provision ) ) ( VP ( VBD was ) ( VP ( VBN stripped ) ( PP-CLR ( IN from ) ( NP ( DT the ) ( NN bill ) ) ) ( NP-TMP ( JJ last ) ( NN night ) ) ( SBAR-TMP ( IN after ) ( S ( NP-SBJ ( NP ( NNP Foreign ) ( NNPS Relations ) ( NNP Chairman ) ( NNP Claiborne ) ( NNP Pell ) ) ( PRN ( NP ( NNP D. ) ) ( NP-LOC ( NNP R.I ) ) ) ) ( VP ( VBD complained ) ( SBAR ( IN that ) ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBD was ) ( NP-PRD ( NP ( DT an ) ( NN intrusion ) ) ( PP ( IN on ) ( NP ( NP ( JJ exclusive ) ( NNS powers ) ) ( VP ( VBN vested ) ( PP-CLR ( IN in ) ( NP ( PRP$ his ) ( NN panel ) ) ) ( PP-TMP ( IN for ) ( NP ( QP ( RBR more ) ( IN than ) ( CD three ) ) ( NNS decades ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

But on a 53-45 roll call this provision was stripped from the bill last night after Foreign Relations Chairman Claiborne Pell D. R.I complained that it was an intrusion on exclusive powers vested in his panel for more than three decades


( S ( S-TPC-1 ( NP-SBJ ( NP ( NNP Japan ) ( POS 's ) ) ( NN steel ) ( NNS exports ) ) ( VP ( VP ( VBD fell ) ( NP-EXT ( CD 12.2 ) ( NN % ) ) ( PP-TMP ( IN in ) ( NP ( NNP September ) ) ) ( PP ( IN from ) ( NP-TMP ( DT a ) ( NN year ) ( RBR earlier ) ) ) ) ( CC and ) ( VP ( VBD were ) ( ADVP-PRD ( RB down ) ( NP ( CD 1.1 ) ( NN % ) ) ( PP ( IN from ) ( NP-TMP ( DT the ) ( JJ previous ) ( NN month ) ) ) ) ) ) ) ( NP-SBJ ( DT the ) ( NNP Japan ) ( NNP Iron ) ( CC and ) ( NNP Steel ) ( NNP Federation ) ) ( VP ( VBD reported ) ) )

Japan 's steel exports fell 12.2 % in September from a year earlier and were down 1.1 % from the previous month the Japan Iron and Steel Federation reported


( S ( NP-SBJ ( NNP September ) ) ( VP ( VBD was ) ( NP-PRD ( NP ( DT the ) ( JJ 10th ) ( JJ consecutive ) ( NN month ) ) ( SBAR ( WHPP-1 ( IN in ) ( WHNP ( WDT which ) ) ) ( S ( NP-SBJ-2 ( NN steel ) ( NNS exports ) ) ( VP ( VBD failed ) ( S ( VP ( TO to ) ( VP ( VB reach ) ( NP ( DT the ) ( JJ year-earlier ) ( NN level ) ) ) ) ) ) ) ) ) ) )

September was the 10th consecutive month in which steel exports failed to reach the year-earlier level


( S ( NP-SBJ ( DT A ) ( NN federation ) ( NN official ) ) ( VP ( VBD attributed ) ( NP ( DT the ) ( NN decline ) ) ( PP-CLR ( TO to ) ( NP ( NP ( JJ brisk ) ( NN demand ) ) ( PP-DIR ( IN from ) ( NP ( JJ domestic ) ( NNS industries ) ) ) ( VP ( VBN backed ) ( PP ( IN by ) ( NP-LGS ( NP ( VBG continuing ) ( JJ economic ) ( NN expansion ) ) ( PP-LOC ( IN in ) ( NP ( NNP Japan ) ) ) ) ) ) ) ) ) )

A federation official attributed the decline to brisk demand from domestic industries backed by continuing economic expansion in Japan


( S ( S ( NP-SBJ ( JJ Japanese ) ( NN steel ) ( NNS companies ) ) ( VP ( VBP are ) ( ADVP ( RB apparently ) ) ( VP ( VBG focusing ) ( PP-LOC-CLR ( IN on ) ( NP ( JJ domestic ) ( NNS sales ) ) ) ) ) ) ( CC but ) ( S ( NP-SBJ ( DT the ) ( NN official ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBZ does ) ( RB n't ) ( ADVP ( RB necessarily ) ) ( VP ( VB mean ) ( SBAR ( IN that ) ( S ( NP-SBJ ( JJ local ) ( NNS sales ) ( NNS contracts ) ) ( VP ( VBP are ) ( VP ( VBG increasing ) ( ADVP ( RB that ) ( RB markedly ) ) ) ) ) ) ) ) ) ) ) ) )

Japanese steel companies are apparently focusing on domestic sales but the official said it does n't necessarily mean that local sales contracts are increasing that markedly


( S ( S-TPC-1 ( NP-SBJ ( PRP They ) ) ( VP ( VP ( VBP are ) ( ADJP-PRD ( RB just ) ( RB too ) ( JJ busy ) ( SBAR ( S ( VP ( TO to ) ( VP ( VB meet ) ( NP ( JJ domestic ) ( NN demand ) ) ) ) ) ) ) ) ( CC and ) ( VP ( VBP have ) ( NP ( NP ( JJ little ) ( NN room ) ) ( PP ( IN for ) ( NP ( JJ overseas ) ( NNS shipments ) ) ) ) ) ) ) ( NP-SBJ ( DT the ) ( NN official ) ) ( VP ( VBD said ) ) )

They are just too busy to meet domestic demand and have little room for overseas shipments the official said


( S ( NP-SBJ ( NNP Philip ) ( NNP Morris ) ( NNP Cos. ) ) ( VP ( VBZ is ) ( VP ( VBG launching ) ( NP ( NP ( DT a ) ( JJ massive ) ( JJ corporate ) ( NN advertising ) ( NN campaign ) ) ( SBAR ( WHNP-58 ( WDT that ) ) ( S ( VP ( MD will ) ( VP ( VB put ) ( NP ( NP ( DT the ) ( NN tobacco ) ( NN giant ) ( POS 's ) ) ( NN name ) ) ( PP-PUT ( IN in ) ( NP ( NN TV ) ( NNS commercials ) ) ) ( PP ( IN for ) ( NP ( NP ( DT the ) ( JJ first ) ( NN time ) ) ( PP-TMP ( IN since ) ( NP ( NP ( DT the ) ( JJ early ) ( CD 1950s ) ) ( SBAR ( WHADVP-1 ( WRB when ) ) ( S ( NP-SBJ-2 ( PRP it ) ) ( VP ( VBD stopped ) ( S ( VP ( VBG advertising ) ( NP ( PRP$ its ) ( NN namesake ) ( NN cigarette ) ( NN brand ) ) ( PP-LOC ( IN on ) ( NP ( NN television ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Philip Morris Cos. is launching a massive corporate advertising campaign that will put the tobacco giant 's name in TV commercials for the first time since the early 1950s when it stopped advertising its namesake cigarette brand on television


( S ( S ( NP-SBJ ( NP ( DT The ) ( NN campaign ) ) ( NP ( NP ( DT a ) ( JJ patriotic ) ( NN celebration ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( JJ 200th ) ( NN anniversary ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( NNP Bill ) ) ( PP ( IN of ) ( NP ( NNPS Rights ) ) ) ) ) ) ) ) ) ( VP ( VBZ does ) ( RB n't ) ( VP ( VB mention ) ( NP ( NNS cigarettes ) ( CC or ) ( NN smoking ) ) ) ) ) ( S ( NP-SBJ ( NN cigarette ) ( NNS ads ) ) ( VP ( VBP have ) ( VP ( VBN been ) ( VP ( VBN prohibited ) ( PP-LOC ( IN on ) ( NP ( NN television ) ) ) ( PP-TMP ( IN since ) ( NP ( CD 1971 ) ) ) ) ) ) ) )

The campaign a patriotic celebration of the 200th anniversary of the Bill of Rights does n't mention cigarettes or smoking cigarette ads have been prohibited on television since 1971


( S ( CC But ) ( SBAR-TMP ( RB even ) ( IN before ) ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBZ begins ) ) ) ) ( NP-SBJ ( DT the ) ( NN campaign ) ) ( VP ( VBZ is ) ( VP ( VBG drawing ) ( NP ( NN fire ) ) ( PP-CLR ( IN from ) ( NP ( NP ( JJ anti-smoking ) ( NNS advocates ) ) ( SBAR ( WHNP-59 ( WP who ) ) ( S ( VP ( VB criticize ) ( NP ( NP ( NNP Philip ) ( NNP Morris ) ( POS 's ) ) ( NN attempt ) ( S ( VP ( TO to ) ( VP ( VB bolster ) ( NP ( PRP$ its ) ( JJ beleaguered ) ( NN image ) ) ( PP-MNR ( IN by ) ( S-NOM ( VP ( VBG wrapping ) ( NP ( PRP itself ) ) ( PP-LOC-CLR ( IN in ) ( NP ( NP ( DT the ) ( NN document ) ) ( SBAR ( WHNP-60 ( WDT that ) ) ( S ( VP ( VBZ is ) ( NP-PRD ( NP ( DT a ) ( NN cornerstone ) ) ( PP ( IN of ) ( NP ( JJ American ) ( NN democracy ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

But even before it begins the campaign is drawing fire from anti-smoking advocates who criticize Philip Morris 's attempt to bolster its beleaguered image by wrapping itself in the document that is a cornerstone of American democracy


( S ( NP-SBJ-1 ( NP ( NNP Philip ) ( NNP Morris ) ) ( SBAR ( WHNP-61 ( WDT which ) ) ( S ( VP ( VBD became ) ( NP-PRD ( NP ( DT the ) ( NNP U.S. ) ( POS 's ) ) ( JJS largest ) ( NN food ) ( NN company ) ) ( NP-TMP ( JJ last ) ( NN year ) ) ( PP ( IN with ) ( NP ( NP ( PRP$ its ) ( ADJP ( QP ( CD 12.9 ) ( CD billion ) ) ) ( NN acquisition ) ) ( PP ( IN of ) ( NP ( NNP Kraft ) ( NNP Inc. ) ) ) ) ) ) ) ) ) ( VP ( VBZ seems ) ( ADJP-PRD ( JJ determined ) ( S ( VP ( TO to ) ( VP ( VB evolve ) ( PP-CLR ( IN beyond ) ( NP ( NP ( PRP$ its ) ( NNS roots ) ) ( PP-LOC ( IN in ) ( NP ( NNP Marlboro ) ( NN country ) ) ) ) ) ) ) ) ) ) )

Philip Morris which became the U.S. 's largest food company last year with its 12.9 billion acquisition of Kraft Inc. seems determined to evolve beyond its roots in Marlboro country


( S ( NP-SBJ ( NP ( DT The ) ( NN company ) ( POS 's ) ) ( NN research ) ) ( VP ( VBZ suggests ) ( SBAR ( IN that ) ( S ( NP-SBJ ( NP ( PRP$ its ) ( NN name ) ( NN recognition ) ) ( PP ( IN among ) ( NP ( JJS most ) ( NNS consumers ) ) ) ) ( VP ( VBZ remains ) ( ADJP-PRD ( RB unusually ) ( JJ low ) ) ( SBAR-ADV ( IN although ) ( S ( NP-SBJ ( NP ( PRP$ its ) ( NN array ) ) ( PP ( IN of ) ( NP ( NP ( NNS brands ) ) ( PRN ( PP ( VBG including ) ( NP ( NP ( NNP Maxwell ) ( NNP House ) ( NN coffee ) ) ( NP ( NNP Jell-O ) ) ( NP ( NNP Cheez ) ( NNP Whiz ) ) ( CC and ) ( NP ( NNP Miller ) ( NN beer ) ) ) ) ) ) ) ) ( VP ( VBP blanket ) ( NP ( NN supermarket ) ( NNS shelves ) ) ) ) ) ) ) ) ) )

The company 's research suggests that its name recognition among most consumers remains unusually low although its array of brands including Maxwell House coffee Jell-O Cheez Whiz and Miller beer blanket supermarket shelves


( S ( NP-SBJ-1 ( DT The ) ( NN company ) ) ( VP ( VBZ is ) ( VP ( VBN expected ) ( S ( VP ( TO to ) ( VP ( VB spend ) ( NP ( NP ( QP ( RB about ) ( CD 30 ) ( CD million ) ) ) ( NP-ADV ( DT a ) ( NN year ) ) ) ( PP-LOC-CLR ( IN on ) ( NP ( NP ( PRP$ its ) ( ADJP ( JJ two-year ) ( JJ corporate ) ) ( NN campaign ) ) ( VP ( VBN created ) ( PP ( IN by ) ( NP-LGS ( NP ( NP ( NNP WPP ) ( NNP Group ) ( POS 's ) ) ( NNP Ogilvy ) ( CC & ) ( NNP Mather ) ( NN unit ) ) ( PP-LOC ( IN in ) ( NP ( NNP New ) ( NNP York ) ) ) ) ) ) ) ) ) ) ) ) ) )

The company is expected to spend about 30 million a year on its two-year corporate campaign created by WPP Group 's Ogilvy & Mather unit in New York


( S ( NP-SBJ ( DT The ) ( JJ initial ) ( NNS spots ) ) ( VP ( MD will ) ( VP ( VB appear ) ( PP-TMP ( IN during ) ( NP ( NN morning ) ( CC and ) ( NN prime-time ) ( NN news ) ( NNS shows ) ) ) ) ) )

The initial spots will appear during morning and prime-time news shows


( S ( NP-SBJ ( NNP Philip ) ( NNP Morris ) ) ( VP ( VBZ hopes ) ( SBAR ( IN that ) ( S ( PP-MNR ( IN by ) ( S-NOM ( VP ( VBG taking ) ( NP ( NP ( PRP$ its ) ( NNP Bill ) ) ( PP ( IN of ) ( NP ( NNPS Rights ) ( NN theme ) ) ) ) ( PP-DIR ( TO to ) ( NP ( NP ( DT the ) ( NNS airwaves ) ) ( CONJP ( IN in ) ( NN addition ) ( TO to ) ) ( NP ( NNS publications ) ) ) ) ) ) ) ( NP-SBJ ( PRP it ) ) ( VP ( MD will ) ( VP ( VB reach ) ( NP ( DT the ) ( ADJP ( JJS broadest ) ( JJ possible ) ) ( NN audience ) ) ) ) ) ) ) )

Philip Morris hopes that by taking its Bill of Rights theme to the airwaves in addition to publications it will reach the broadest possible audience


( S ( PP-TMP ( IN Until ) ( ADVP ( RB now ) ) ) ( NP-SBJ ( NP ( PRP$ its ) ( JJ corporate ) ( NNS ads ) ) ( VP ( ADVP ( RB mainly ) ) ( VBG promoting ) ( NP ( NP ( PRP$ its ) ( NN sponsorship ) ) ( PP ( IN of ) ( NP ( DT the ) ( NNS arts ) ) ) ) ) ) ( VP ( VB have ) ( VP ( VBN appeared ) ( ADVP ( RB almost ) ( RB exclusively ) ) ( PP-LOC-CLR ( IN in ) ( NP ( NNS newspapers ) ( CC and ) ( NNS magazines ) ) ) ) ) )

Until now its corporate ads mainly promoting its sponsorship of the arts have appeared almost exclusively in newspapers and magazines


( SINV ( S-TPC-1 ( NP-SBJ ( JJS Most ) ( NNS people ) ) ( PRN ( SBAR ( IN whether ) ( FRAG ( PP-LOC ( IN in ) ( NP ( NNP Toledo ) ( NNP Tucson ) ( CC or ) ( NNP Topeka ) ) ) ) ) ) ( VP ( VBP have ) ( RB n't ) ( VP ( VBN got ) ( X ( NP ( DT a ) ( NN clue ) ) ( SBAR ( WHNP-62 ( WP who ) ) ( S ( NP-SBJ ( PRP we ) ) ( VP ( VBP are ) ) ) ) ) ) ) ) ( VP ( VBZ says ) ) ( NP-SBJ ( NP ( NNP Guy ) ( NNP L. ) ( NNP Smith ) ) ( NP ( NP ( NP ( NNP Philip ) ( NNP Morris ) ( POS 's ) ) ( NN vice ) ( NN president ) ) ( PP ( IN of ) ( NP ( JJ corporate ) ( NNS affairs ) ) ) ) ) )

Most people whether in Toledo Tucson or Topeka have n't got a clue who we are says Guy L. Smith Philip Morris 's vice president of corporate affairs


( S ( SBAR-ADV ( IN If ) ( S ( NP-SBJ ( PRP they ) ) ( VP ( VBP think ) ( ADVP-CLR ( RB well ) ) ( PP-CLR ( IN of ) ( NP ( DT the ) ( NN company ) ) ) ( PP ( IN through ) ( NP ( NP ( PRP$ our ) ( NN support ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( NNP Bill ) ) ( PP ( IN of ) ( NP ( NNPS Rights ) ) ) ) ) ) ) ) ) ) ( NP-SBJ ( NP ( PRP it ) ) ) ( VP ( VBZ follows ) ( SBAR-1 ( S ( NP-SBJ ( PRP they ) ) ( VP ( MD 'll ) ( VP ( VB think ) ( ADVP-CLR ( RB well ) ) ( PP-CLR ( IN of ) ( NP ( PRP$ our ) ( NNS products ) ) ) ) ) ) ) ) )

If they think well of the company through our support of the Bill of Rights it follows they 'll think well of our products


( S ( NP-SBJ ( NNP Mr. ) ( NNP Smith ) ) ( VP ( VBZ says ) ( SBAR ( S ( NP-SBJ-1 ( NP ( NAC ( NAC ( DT the ) ( NNP Bill ) ) ( PP ( IN of ) ( NP ( NNPS Rights ) ) ) ) ( NN commercial ) ) ( SBAR ( WHNP-63 ( WDT which ) ) ( S ( VP ( VBZ trumpets ) ( NP ( NP ( DT the ) ( NNS themes ) ) ( PP ( IN of ) ( NP ( NP ( NN liberty ) ) ( CC and ) ( NP ( NP ( NN freedom ) ) ( PP ( IN of ) ( NP ( NN expression ) ) ) ) ) ) ) ) ) ) ) ( VP ( VBZ is ) ( RB n't ) ( VP ( VBN designed ) ( S ( VP ( TO to ) ( VP ( VB have ) ( NP ( DT any ) ( JJ special ) ( NN appeal ) ) ( PP-CLR ( IN for ) ( NP ( NNS smokers ) ) ) ) ) ) ) ) ) ) ) )

Mr. Smith says the Bill of Rights commercial which trumpets the themes of liberty and freedom of expression is n't designed to have any special appeal for smokers


( S ( S-TPC-2 ( SBAR-ADV ( IN Although ) ( S ( NP-SBJ-1 ( NNP Philip ) ( NNP Morris ) ) ( ADVP ( RB typically ) ) ( VP ( VBZ tries ) ( S ( VP ( TO to ) ( VP ( VB defend ) ( NP ( NP ( DT the ) ( NNS rights ) ) ( PP ( IN of ) ( NP ( NNS smokers ) ) ) ) ( PP-MNR ( IN with ) ( NP ( JJ free-choice ) ( NNS arguments ) ) ) ) ) ) ) ) ) ( S ( NP-SBJ ( DT this ) ) ( VP ( VBZ has ) ( NP ( NP ( NN nothing ) ) ( SBAR ( S ( VP ( TO to ) ( VP ( VB do ) ( PP-CLR ( IN with ) ( NP ( NNS cigarettes ) ) ) ) ) ) ) ) ) ) ( CC nor ) ( SINV ( MD will ) ( NP-SBJ ( PRP it ) ) ( ADVP-TMP ( RB ever ) ) ) ) ( NP-SBJ ( DT the ) ( NN spokesman ) ) ( VP ( VBZ says ) ) )

Although Philip Morris typically tries to defend the rights of smokers with free-choice arguments this has nothing to do with cigarettes nor will it ever the spokesman says


( S ( CC But ) ( NP-SBJ-1 ( DT some ) ( JJ anti-smoking ) ( NNS activists ) ) ( VP ( VBP disagree ) ( S-ADV ( VP ( VBG expressing ) ( NP ( NP ( NN anger ) ) ( PP ( IN at ) ( SBAR-NOM ( WHNP-64 ( WP what ) ) ( S ( NP-SBJ ( PRP they ) ) ( VP ( VBP see ) ( PP-CLR ( IN as ) ( NP ( NP ( DT the ) ( NN company ) ( POS 's ) ) ( NN attempt ) ( S ( VP ( TO to ) ( VP ( VB purchase ) ( NP ( NN innocence ) ) ( PP-MNR ( IN by ) ( NP ( NN association ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

But some anti-smoking activists disagree expressing anger at what they see as the company 's attempt to purchase innocence by association


( SINV ( S-TPC-1 ( S ( NP-SBJ ( PRP I ) ) ( VP ( VBP 'm ) ( ADJP-PRD ( JJ outraged ) ) ( SBAR-PRP ( IN because ) ( S ( NP-SBJ ( DT this ) ( NN company ) ) ( VP ( VBZ is ) ( VP ( VBG portraying ) ( NP ( PRP itself ) ) ( PP-LOC-CLR ( IN at ) ( NP ( NP ( DT the ) ( NN heart ) ) ( PP ( IN of ) ( NP ( NP ( JJ American ) ( NN culture ) ) ( CC and ) ( NP ( JJ political ) ( NN freedom ) ) ) ) ) ) ) ) ) ) ) ) ( CC and ) ( S ( PP ( IN in ) ( NP ( NN fact ) ) ) ( NP-SBJ ( PRP it ) ) ( VP ( VBZ 's ) ( NP-PRD ( DT a ) ( NN killer ) ) ) ) ) ( VP ( VBZ says ) ) ( NP-SBJ ( NP ( NNP Michael ) ( NNP Pertschuk ) ) ( NP ( NP ( NP ( JJ former ) ( NN chairman ) ) ( PP ( IN of ) ( NP ( DT the ) ( NNP Federal ) ( NNP Trade ) ( NNP Commission ) ) ) ) ( CC and ) ( NP ( DT a ) ( NN tobacco-industry ) ( NN critic ) ) ) ) )

I 'm outraged because this company is portraying itself at the heart of American culture and political freedom and in fact it 's a killer says Michael Pertschuk former chairman of the Federal Trade Commission and a tobacco-industry critic


( S ( NP-SBJ-1 ( PRP It ) ) ( VP ( MD should ) ( VP ( VB be ) ( VP ( VBN treated ) ( PP-CLR ( IN like ) ( NP ( NP ( DT the ) ( NNP Medellin ) ( PRN ( NN drug ) ) ( NN mafia ) ) ( RB not ) ( NP ( DT the ) ( VBG Founding ) ( NNS Fathers ) ) ) ) ) ) ) )

It should be treated like the Medellin drug mafia not the Founding Fathers


( S ( NP-SBJ ( NNP Mr. ) ( NNP Pertschuk ) ) ( VP ( VBZ adds ) ( SBAR ( IN that ) ( S ( NP-SBJ ( DT the ) ( JJ new ) ( JJ commercial ) ) ( VP ( VBZ dovetails ) ( ADVP-MNR ( RB perfectly ) ) ( PP-CLR ( IN with ) ( NP ( NP ( JJ major ) ( NNS aspects ) ) ( PP ( IN of ) ( NP ( NP ( NNP Philip ) ( NNP Morris ) ( POS 's ) ) ( JJ political ) ( NN strategy ) ) ) ) ) ) ) ) ) )

Mr. Pertschuk adds that the new commercial dovetails perfectly with major aspects of Philip Morris 's political strategy


( S ( NP-SBJ ( DT These ) ) ( VP ( VB include ) ( S ( VP ( VP ( VBG trying ) ( S ( VP ( TO to ) ( VP ( VB protect ) ( NP ( PRP$ its ) ( NN print ) ( NN advertising ) ) ( PP-MNR ( IN by ) ( S-NOM ( VP ( VBG invoking ) ( NP ( DT the ) ( NNP First ) ( NNP Amendment ) ) ) ) ) ) ) ) ) ( CC and ) ( VP ( VBG wooing ) ( NP ( NNS blacks ) ) ( PP-MNR ( IN by ) ( S-NOM ( VP ( VBG portraying ) ( NP ( PRP itself ) ) ( PP-CLR ( IN as ) ( NP ( NP ( DT a ) ( NN protector ) ) ( PP ( IN of ) ( NP ( JJ civil ) ( NNS rights ) ) ) ) ) ) ) ) ) ) ) ) )

These include trying to protect its print advertising by invoking the First Amendment and wooing blacks by portraying itself as a protector of civil rights


( PRN ( S ( NP-SBJ ( DT The ) ( NN commercial ) ) ( VP ( NNS features ) ( PRN ( PP-LOC ( IN among ) ( NP ( NNS others ) ) ) ) ( NP ( NP ( DT the ) ( NN voice ) ) ( PP ( IN of ) ( NP ( NP ( NNP Martin ) ( NNP Luther ) ( NNP King ) ( NNP Jr. ) ) ( NP ( DT the ) ( VBN slain ) ( JJ civil ) ( NNS rights ) ( NN leader ) ) ) ) ) ) ) )

The commercial features among others the voice of Martin Luther King Jr. the slain civil rights leader


( S ( S ( NP-SBJ ( JJ Many ) ( NNS marketers ) ) ( VP ( VBP say ) ( SBAR ( S ( NP-SBJ ( NP ( NNP Philip ) ( NNP Morris ) ( POS 's ) ) ( NN approach ) ) ( VP ( MD will ) ( VP ( VB be ) ( ADJP-PRD ( JJ effective ) ) ) ) ) ) ) ) ( CC but ) ( S ( NP-SBJ ( PRP they ) ) ( VP ( VBP agree ) ( SBAR ( IN that ) ( S ( NP-SBJ ( NP ( DT the ) ( NNS ads ) ( POS ' ) ) ( VBN implied ) ( NN smoking ) ( NN message ) ) ( VP ( VBZ is ) ( ADJP-PRD ( JJ unmistakable ) ) ) ) ) ) ) )

Many marketers say Philip Morris 's approach will be effective but they agree that the ads ' implied smoking message is unmistakable


( SINV ( S-TPC-1 ( NP-SBJ ( DT This ) ) ( VP ( VBZ is ) ( NP-PRD ( NP ( JJ clever ) ( JJ subliminal ) ( NN advertising ) ) ( SBAR ( WHNP-65 ( WDT that ) ) ( S ( ADVP ( RB really ) ) ( VP ( VBZ says ) ( S ( NP-SBJ ( NNS Smokers ) ) ( VP ( VB have ) ( NP ( NNS rights ) ) ( ADVP ( RB too ) ) ) ) ) ) ) ) ) ) ( VP ( VBZ says ) ) ( NP-SBJ ( NP ( NNP Al ) ( NNP Ries ) ) ( NP ( NP ( NN chairman ) ) ( PP ( IN of ) ( NP ( NP ( NNP Trout ) ( CC & ) ( NNP Ries ) ( NNP Inc. ) ) ( NP ( DT a ) ( NAC ( NNP Greenwich ) ( NNP Conn. ) ) ( NN marketing ) ( NN strategy ) ( NN firm ) ) ) ) ) ) )

This is clever subliminal advertising that really says Smokers have rights too says Al Ries chairman of Trout & Ries Inc. a Greenwich Conn. marketing strategy firm


( S ( NP-SBJ-1 ( DT This ) ) ( VP ( VBZ is ) ( VP ( VBN designed ) ( S ( VP ( TO to ) ( VP ( VP ( VB get ) ( S ( NP-SBJ ( DT the ) ( NNS wagons ) ) ( PP-PRD ( IN in ) ( NP ( DT a ) ( NN circle ) ) ) ) ) ( CC and ) ( VP ( VB defend ) ( NP ( DT the ) ( NN smoking ) ( NN franchise ) ) ) ) ) ) ) ) )

This is designed to get the wagons in a circle and defend the smoking franchise


( S ( NP-SBJ ( NP ( NNP Richard ) ( NNP Winger ) ) ( NP ( NP ( DT a ) ( NN partner ) ) ( PP-LOC ( IN at ) ( NP ( NNP Boston ) ( NNP Consulting ) ( NNP Group ) ) ) ) ) ( VP ( VBZ adds ) ( S ( NP-SBJ ( NP ( PRP It ) ) ) ( VP ( VBZ 's ) ( ADJP-PRD ( RB very ) ( JJ popular ) ) ( S-1 ( VP ( TO to ) ( VP ( VB drape ) ( NP ( PRP yourself ) ) ( PP-LOC-CLR ( IN in ) ( NP ( DT the ) ( NN flag ) ) ) ) ) ) ( NP-TMP ( DT these ) ( NNS days ) ) ) ) ) )

Richard Winger a partner at Boston Consulting Group adds It 's very popular to drape yourself in the flag these days


( S ( SBAR-ADV ( IN If ) ( S ( S ( NP-SBJ-1 ( PRP you ) ) ( VP ( MD can ) ( VP ( VB do ) ( NP ( DT that ) ) ) ) ) ( CC and ) ( S ( PP-TMP ( IN at ) ( NP ( DT the ) ( JJ same ) ( NN time ) ) ) ( VP ( VB send ) ( NP ( NP ( DT a ) ( NN message ) ) ( SBAR ( WHNP-66 ( WDT that ) ) ( S ( VP ( VBZ supports ) ( NP ( PRP$ your ) ( NN business ) ) ) ) ) ) ) ) ) ) ( NP-SBJ ( DT that ) ) ( VP ( VBZ 's ) ( ADJP-PRD ( JJ brilliant ) ) ) )

If you can do that and at the same time send a message that supports your business that 's brilliant


( S ( NP-SBJ ( NP ( NNP RJR ) ( NNP Nabisco ) ( NNP Inc. ) ) ( CC and ) ( NP ( NNP American ) ( NNP Brands ) ( NNP Inc. ) ) ) ( VP ( VBP say ) ( SBAR ( S ( NP-SBJ ( PRP they ) ) ( VP ( VBP have ) ( NP ( DT no ) ( NNS plans ) ( S ( VP ( TO to ) ( VP ( VB follow ) ( NP ( NP ( NNP Philip ) ( NNP Morris ) ( POS 's ) ) ( NN lead ) ) ) ) ) ) ) ) ) ) )

RJR Nabisco Inc. and American Brands Inc. say they have no plans to follow Philip Morris 's lead


( S ( ADVP ( RB Indeed ) ) ( NP-SBJ-1 ( NNP RJR ) ( NNP Nabisco ) ) ( VP ( VBZ is ) ( ADVP-TMP ( RB currently ) ) ( PP-PRD ( IN under ) ( NP ( NN fire ) ) ) ( PP-PRP ( IN for ) ( S-NOM ( VP ( VBG having ) ( VP ( VBD sent ) ( NP ( NP ( JJ 80-second ) ( NNS videotapes ) ) ( VP ( VBG touting ) ( NP ( PRP$ its ) ( NNP Now ) ( NN brand ) ) ) ) ( PP-DIR ( TO to ) ( NP ( NP ( NNS consumers ) ) ( SBAR ( WHNP-67 ( WP who ) ) ( S ( VP ( VBP smoke ) ( NP ( NP ( NNP American ) ( NNP Brands ) ( POS ' ) ) ( NNPS Carltons ) ) ) ) ) ) ) ) ) ) ) ) )

Indeed RJR Nabisco is currently under fire for having sent 80-second videotapes touting its Now brand to consumers who smoke American Brands ' Carltons


( S ( PP ( IN Despite ) ( NP ( DT the ) ( NN criticism ) ) ) ( NP-SBJ ( NP ( NNP Philip ) ( NNP Morris ) ( POS 's ) ) ( JJ corporate ) ( NN campaign ) ) ( VP ( VBZ runs ) ( NP ( NP ( JJ little ) ( NN risk ) ) ( PP ( IN of ) ( S-NOM ( VP ( VBG getting ) ( VP ( VBN yanked ) ( PP-DIR ( IN off ) ( NP ( DT the ) ( NN tube ) ) ) ) ) ) ) ) ) )

Despite the criticism Philip Morris 's corporate campaign runs little risk of getting yanked off the tube


( SINV ( S-TPC-1 ( NP-SBJ ( PRP They ) ) ( VP ( VBP are ) ( RB n't ) ( VP ( VBG showing ) ( S ( NP-SBJ ( NNP James ) ( NNP Madison ) ) ( VP ( VP ( VBG taking ) ( NP ( DT a ) ( NN puff ) ) ) ( CC or ) ( VP ( VBG lighting ) ( PRT ( RP up ) ) ) ) ) ) ) ) ( VP ( VBZ says ) ) ( NP-SBJ ( NP ( NNP Laurence ) ( NNP Tribe ) ) ( NP ( NP ( DT a ) ( NN professor ) ) ( PP ( IN of ) ( NP ( JJ constitutional ) ( NN law ) ) ) ( PP-LOC ( IN at ) ( NP ( NNP Harvard ) ( NNP University ) ) ) ) ) )

They are n't showing James Madison taking a puff or lighting up says Laurence Tribe a professor of constitutional law at Harvard University


( S ( NP-SBJ ( NP ( DT All ) ) ( SBAR ( S ( NP-SBJ-2 ( PRP they ) ) ( VP ( VBP are ) ( VP ( VBG trying ) ( S ( VP ( TO to ) ( VP ( VB do ) ) ) ) ) ) ) ) ) ( VP ( VBZ is ) ( VP ( VB borrow ) ( NP ( NP ( DT some ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( NN legitimacy ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( NNP Bill ) ) ( PP ( IN of ) ( NP ( NNPS Rights ) ) ) ( NP ( PRP itself ) ) ) ) ) ) ) ) ) )

All they are trying to do is borrow some of the legitimacy of the Bill of Rights itself


( S ( NP-SBJ ( NNP Clarcor ) ( NNP Inc. ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ-1 ( DT a ) ( NN plan ) ( S ( VP ( TO to ) ( VP ( VB sell ) ( NP ( PRP$ its ) ( NNP J.L. ) ( NNP Clark ) ( NNP Inc. ) ( NN subsidiary ) ) ( PP-DTV ( TO to ) ( NP ( NP ( DT a ) ( NN group ) ) ( VP ( VBN headed ) ( PP ( IN by ) ( NP-LGS ( NNP Anderson ) ( NNPS Industries ) ( NNP Inc. ) ) ) ) ) ) ( PP-CLR ( IN for ) ( NP ( QP ( CD 70.3 ) ( CD million ) ) ) ) ) ) ) ) ( VP ( VBZ has ) ( VP ( VBN been ) ( VP ( VBN terminated ) ) ) ) ) ) ) )

Clarcor Inc. said a plan to sell its J.L. Clark Inc. subsidiary to a group headed by Anderson Industries Inc. for 70.3 million has been terminated


( S ( NP-SBJ ( NP ( NNP Clarcor ) ) ( NP ( NP ( DT a ) ( NN maker ) ) ( PP ( IN of ) ( NP ( NN packaging ) ( CC and ) ( NN filtration ) ( NNS products ) ) ) ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( DT the ) ( CD two ) ( NNS companies ) ) ( VP ( MD could ) ( RB n't ) ( VP ( VB agree ) ( PP-CLR ( IN on ) ( NP ( NP ( NNS terms ) ) ( PP ( IN of ) ( NP ( DT a ) ( JJ definitive ) ( NN agreement ) ) ) ) ) ) ) ) ) ) )

Clarcor a maker of packaging and filtration products said the two companies could n't agree on terms of a definitive agreement


( S ( NP-SBJ-1 ( NP ( DT The ) ( NN sale ) ( NN price ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( NN unit ) ) ( SBAR ( WHNP-162 ( WDT which ) ) ( S ( VP ( VBZ makes ) ( NP ( NN packaging ) ( NNS products ) ) ) ) ) ) ) ) ( VP ( VBD was ) ( S ( VP ( TO to ) ( VP ( VB consist ) ( PP-CLR ( IN of ) ( NP ( NP ( NN cash ) ) ( NP ( NNS notes ) ) ( CC and ) ( NP ( NP ( DT an ) ( NN amount ) ) ( SBAR ( S ( VP ( TO to ) ( VP ( VB be ) ( VP ( VBN determined ) ( PP ( IN by ) ( NP-LGS ( NP ( DT the ) ( NN unit ) ( POS 's ) ) ( JJ future ) ( NN performance ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

The sale price of the unit which makes packaging products was to consist of cash notes and an amount to be determined by the unit 's future performance


( S ( NP-SBJ ( NNP Clarcor ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBZ is ) ( VP ( VBG inviting ) ( NP ( NP ( NNS proposals ) ) ( PP ( IN from ) ( NP ( NP ( JJ other ) ( JJ prospective ) ( NNS purchasers ) ) ( PP ( IN of ) ( NP ( DT the ) ( NN unit ) ) ) ) ) ) ) ) ) ) ) )

Clarcor said it is inviting proposals from other prospective purchasers of the unit


( S ( NP-SBJ ( DT Both ) ( NNP Clarcor ) ( CC and ) ( NNP Anderson ) ) ( VP ( VBP are ) ( VP ( VBN based ) ( PP-LOC-CLR ( IN in ) ( NP ( NP ( NNP Rockford ) ) ( NP ( NNP Ill ) ) ) ) ) ) )

Both Clarcor and Anderson are based in Rockford Ill


( S ( S ( NP-SBJ ( NNP Senate ) ( NNS leaders ) ) ( VP ( VBD traded ) ( NP ( NP ( NNS proposals ) ) ( VP ( VBN aimed ) ( PP-CLR ( IN at ) ( S-NOM ( VP ( VBG speeding ) ( NP ( NP ( NN action ) ) ( PP-LOC ( IN on ) ( NP ( NP ( NN legislation ) ) ( SBAR ( S ( VP ( TO to ) ( VP ( VP ( VB narrow ) ( NP ( DT the ) ( NN deficit ) ) ) ( CC and ) ( VP ( VB raise ) ( NP ( NP ( DT the ) ( JJ federal ) ( NN government ) ( POS 's ) ) ( NN debt ) ( NN limit ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ( CC but ) ( S ( NP-SBJ ( DT the ) ( JJ major ) ( JJ stumbling ) ( NN block ) ) ( VP ( VBZ remains ) ( NP-PRD ( NP ( NNP President ) ( NNP Bush ) ( POS 's ) ) ( NN proposal ) ( S ( VP ( TO to ) ( VP ( VB cut ) ( NP ( DT the ) ( NNS capital-gains ) ( NN tax ) ( NN rate ) ) ) ) ) ) ) ) )

Senate leaders traded proposals aimed at speeding action on legislation to narrow the deficit and raise the federal government 's debt limit but the major stumbling block remains President Bush 's proposal to cut the capital-gains tax rate


( S ( NP-SBJ ( NNPS Democrats ) ) ( VP ( VBP want ) ( S ( NP-SBJ ( DT the ) ( NN tax ) ( NN provision ) ) ( VP ( TO to ) ( VP ( VB be ) ( NP-PRD ( NP ( DT a ) ( JJ separate ) ( NN bill ) ) ( ADJP ( JJ subject ) ( PP ( TO to ) ( NP ( DT the ) ( JJ usual ) ( JJ procedural ) ( NNS obstacles ) ) ) ) ) ) ) ) ) )

Democrats want the tax provision to be a separate bill subject to the usual procedural obstacles


( S ( NP-SBJ-1 ( NNPS Republicans ) ) ( ADVP-TMP ( RB meanwhile ) ) ( VP ( VBP want ) ( S ( VP ( TO to ) ( VP ( VB try ) ( S ( VP ( TO to ) ( VP ( VB protect ) ( NP ( DT the ) ( NN measure ) ) ( PP-MNR ( IN by ) ( S-NOM ( VP ( VBG combining ) ( NP ( PRP it ) ) ( PP-CLR ( IN with ) ( NP ( NP ( CD two ) ( RB politically ) ( JJ popular ) ( NNS issues ) ) ( SBAR ( WHNP-107 ( IN that ) ) ( S ( NP-SBJ ( NNPS Democrats ) ) ( VP ( MD could ) ( VP ( VB find ) ( S ( ADJP-PRD ( JJ hard ) ( SBAR ( S ( VP ( TO to ) ( VP ( VB block ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Republicans meanwhile want to try to protect the measure by combining it with two politically popular issues that Democrats could find hard to block


( S ( NP-SBJ-1 ( NP ( DT The ) ( NNS talks ) ) ( PP ( IN between ) ( NP ( NP ( NP ( NNP Senate ) ( NNP Majority ) ( NNP Leader ) ( NNP George ) ( NNP Mitchell ) ) ( PP ( IN of ) ( NP ( NNP Maine ) ) ) ) ( CC and ) ( NP ( NP ( PRP$ his ) ( NNP GOP ) ( NN counterpart ) ) ( NP ( NP ( NNP Sen. ) ( NNP Robert ) ( NNP Dole ) ) ( PP ( IN of ) ( NP ( NNP Kansas ) ) ) ) ) ) ) ) ( VP ( VBP are ) ( VP ( VBN expected ) ( S ( VP ( TO to ) ( VP ( VB resume ) ( NP-TMP ( NN today ) ) ) ) ) ) ) )

The talks between Senate Majority Leader George Mitchell of Maine and his GOP counterpart Sen. Robert Dole of Kansas are expected to resume today


( S ( NP-TMP ( JJ Last ) ( NN night ) ) ( PP-TMP ( IN after ) ( S-NOM ( VP ( NN meeting ) ( PP-CLR ( IN with ) ( NP ( NP ( NNP Mr. ) ( NNP Bush ) ) ( CC and ) ( NP ( NN administration ) ( NNS officials ) ) ) ) ( PP-LOC ( IN at ) ( NP ( DT the ) ( NNP White ) ( NNP House ) ) ) ) ) ) ( NP-SBJ ( NNP Mr. ) ( NNP Dole ) ) ( VP ( VBD proposed ) ( S ( VP ( VP ( VBG streamlining ) ( NP ( NP ( DT the ) ( JJ fiscal ) ( CD 1990 ) ( JJ deficit-reduction ) ( NN bill ) ) ( ADJP ( RB now ) ( VBN stalled ) ( PP ( IN in ) ( NP ( DT a ) ( NNP House-Senate ) ( NN conference ) ( NN committee ) ) ) ) ) ) ( CC and ) ( VP ( VBG passing ) ( NP ( NP ( DT a ) ( JJ long-term ) ( NN extension ) ) ( PP ( IN of ) ( NP ( DT the ) ( JJ federal ) ( NN debt ) ( NN ceiling ) ) ) ) ( PP ( IN without ) ( NP ( DT any ) ( VBG accompanying ) ( NNS amendments ) ) ) ) ) ) ) )

Last night after meeting with Mr. Bush and administration officials at the White House Mr. Dole proposed streamlining the fiscal 1990 deficit-reduction bill now stalled in a House-Senate conference committee and passing a long-term extension of the federal debt ceiling without any accompanying amendments


( S ( PP-LOC ( IN Under ) ( NP ( DT this ) ( NN plan ) ) ) ( NP-SBJ ( NP ( CD two ) ( NNS provisions ) ) ( RRC ( ADVP-TMP ( RB currently ) ) ( PP-LOC ( IN in ) ( NP ( NP ( DT the ) ( NNP House ) ( NN version ) ) ( PP ( IN of ) ( NP ( DT the ) ( JJ deficit-cutting ) ( NN bill ) ) ) ) ) ) ( PRN ( NP ( NP ( NN repeal ) ) ( PP ( IN of ) ( NP ( DT both ) ( NP ( DT the ) ( JJ catastrophic-illness ) ( NN insurance ) ( NN program ) ) ( CC and ) ( NP ( NP ( DT a ) ( JJ controversial ) ( CD 1986 ) ( NN tax ) ( NN provision ) ) ( VP ( VBN intended ) ( S ( VP ( TO to ) ( VP ( VB counter ) ( NP ( NP ( NN discrimination ) ) ( PP-LOC ( IN in ) ( NP ( JJ employee-benefit ) ( NNS plans ) ) ) ) ) ) ) ) ) ) ) ) ) ) ( VP ( MD would ) ( VP ( VB be ) ( VP ( VBN made ) ( PP-CLR ( IN into ) ( NP ( DT a ) ( JJ separate ) ( NN bill ) ) ) ) ) ) )

Under this plan two provisions currently in the House version of the deficit-cutting bill repeal of both the catastrophic-illness insurance program and a controversial 1986 tax provision intended to counter discrimination in employee-benefit plans would be made into a separate bill