( S ( NP-SBJ ( PRP She ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( DT the ) ( NN company ) ) ( VP ( MD could ) ( VP ( VB pay ) ( NP ( ADJP ( QP ( RB as ) ( RB much ) ( IN as ) ( CD 25 ) ) ( NN % ) ) ( JJR more ) ) ( PP-CLR ( IN for ) ( NP ( DT the ) ( NNS ships ) ) ) ) ) ) ) ) )

She said the company could pay as much as 25 % more for the ships


( S ( SBAR-ADV ( IN If ) ( S ( NP-SBJ-2 ( DT the ) ( NNS ships ) ) ( VP ( VBP are ) ( RB n't ) ( VP ( VBN delivered ) ) ) ) ) ( ADVP ( RB however ) ) ( NP-SBJ ( PRP it ) ) ( VP ( MD will ) ( ADVP ( RB likely ) ) ( VP ( VB have ) ( NP ( DT an ) ( NN effect ) ) ( PP-CLR ( IN on ) ( NP ( NP ( DT the ) ( NN company ) ( POS 's ) ) ( NNS earnings ) ) ) ( ADVP-TMP ( ADVP ( RB as ) ( RB soon ) ) ( PP ( IN as ) ( NP ( NP ( DT the ) ( CD 1990 ) ( JJ fiscal ) ( NN year ) ) ( SBAR ( WHNP-1 ( WDT which ) ) ( S ( VP ( VBZ begins ) ( NP-TMP ( NNP Dec. ) ( CD 1 ) ) ) ) ) ) ) ) ) ) )

If the ships are n't delivered however it will likely have an effect on the company 's earnings as soon as the 1990 fiscal year which begins Dec. 1


( S ( NP-SBJ ( NNS Analysts ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ-1 ( NP ( DT those ) ( NNS estimates ) ) ( SBAR ( WHNP-2 ( WDT which ) ) ( S ( VP ( VBP range ) ( PP-CLR ( IN from ) ( NP ( NP ( QP ( IN about ) ( CD 1.80 ) ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ( PP-CLR ( TO to ) ( NP ( NP ( CD 1.95 ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ) ) ) ) ( VP ( VBP are ) ( VP ( VBN based ) ( PP-CLR ( IN on ) ( NP ( NP ( NNP Fantasy ) ) ( VP ( VBG being ) ( PP-PRD ( IN in ) ( NP ( NN operation ) ) ) ( PP-TMP ( IN in ) ( NP ( CD 1990 ) ) ) ) ) ) ) ) ) ) ) )

Analysts said those estimates which range from about 1.80 a share to 1.95 a share are based on Fantasy being in operation in 1990


( S ( SBAR-ADV ( IN If ) ( S ( NP-SBJ-2 ( DT the ) ( NN ship ) ) ( VP ( VBZ fails ) ( S ( VP ( TO to ) ( VP ( VB arrive ) ) ) ) ) ) ) ( NP-SBJ-1 ( DT those ) ( JJ per-share ) ( NNS earnings ) ( NNS estimates ) ) ( VP ( MD could ) ( VP ( VB be ) ( VP ( VBN trimmed ) ( NP-EXT ( CD 15 ) ( NNS cents ) ( QP ( CC or ) ( JJR more ) ) ) ) ) ) )

If the ship fails to arrive those per-share earnings estimates could be trimmed 15 cents or more


( S ( NP-SBJ-1 ( NNS Analysts ) ) ( VP ( VBD were ) ( RB n't ) ( ADJP-PRD ( JJ willing ) ( S ( VP ( TO to ) ( VP ( VB speculate ) ( PP-CLR ( IN on ) ( SBAR ( WHNP-2 ( WHADJP ( WRB how ) ( JJ much ) ) ( NN money ) ) ( S ( NP-SBJ ( NNP Carnival ) ) ( VP ( MD might ) ( VP ( VB lose ) ( PP-MNR ( IN through ) ( NP ( NNS deposits ) ) ) ) ) ) ) ) ) ) ) ) ) )

Analysts were n't willing to speculate on how much money Carnival might lose through deposits


( S ( ADVP ( RB Normally ) ) ( NP-SBJ ( DT a ) ( NN company ) ) ( VP ( VBZ pays ) ( NP ( NP ( DT a ) ( NN portion ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( JJ total ) ( NN cost ) ) ( PP ( IN of ) ( NP ( DT a ) ( NN ship ) ) ) ) ) ) ( SBAR-TMP ( IN as ) ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBZ reaches ) ( NP ( NP ( JJ various ) ( NNS stages ) ) ( PP ( IN of ) ( NP ( NN construction ) ) ) ) ) ) ) ) )

Normally a company pays a portion of the total cost of a ship as it reaches various stages of construction


( S ( NP-SBJ ( NNP Carnival ) ) ( PP ( IN for ) ( NP ( NN example ) ) ) ( VP ( VBZ has ) ( ADVP ( RB already ) ) ( VP ( VBN paid ) ( NP ( NP ( QP ( IN about ) ( CD 160 ) ( CD million ) ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( JJ total ) ( NN cost ) ) ( PP ( IN for ) ( NP ( NNP Fantasy ) ) ) ) ) ) ) ) )

Carnival for example has already paid about 160 million of the total cost for Fantasy


( S ( NP-SBJ ( DT Some ) ( NNS analysts ) ) ( VP ( VBP say ) ( SBAR ( S ( NP-SBJ ( DT this ) ) ( VP ( MD may ) ( VP ( VB give ) ( NP ( PRP it ) ) ( NP ( NP ( DT the ) ( NN right ) ) ( SBAR ( S ( VP ( TO to ) ( VP ( VB seize ) ( NP ( DT the ) ( NN ship ) ) ( SBAR-ADV ( IN if ) ( S ( NP-SBJ ( DT the ) ( NN situation ) ) ( VP ( VBZ warrants ) ( NP ( PRP it ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Some analysts say this may give it the right to seize the ship if the situation warrants it


( S ( PP ( VBG According ) ( PP ( TO to ) ( NP ( NP ( NNS reports ) ) ( PP ( IN from ) ( NP ( NNP Finland ) ) ) ) ) ) ( NP-SBJ ( NP ( NNP Waertsilae ) ( NNP Marine ) ) ( ADJP ( JJ 19%-owned ) ( PP ( IN by ) ( NP ( JJ conglomerate ) ( NNP Oy ) ( NNP Waertsilae ) ) ) ) ) ( VP ( VBD filed ) ( PP-CLR ( IN for ) ( NP ( NN bankruptcy ) ) ) ( NP-TMP ( NN yesterday ) ) ( SBAR-TMP ( IN after ) ( S ( NP-SBJ-1 ( NP ( DT the ) ( NN shipyard ) ( POS 's ) ) ( NNS contractors ) ) ( VP ( VBD had ) ( VP ( VBN started ) ( S ( VP ( TO to ) ( VP ( VB demand ) ( NP ( NN bank ) ( NNS guarantees ) ) ) ) ) ) ) ) ) ) )

According to reports from Finland Waertsilae Marine 19%-owned by conglomerate Oy Waertsilae filed for bankruptcy yesterday after the shipyard 's contractors had started to demand bank guarantees


( S ( NP-SBJ ( DT The ) ( NN shipyard ) ) ( VP ( VBD disclosed ) ( PP-TMP ( IN in ) ( NP ( NNP mid-August ) ) ) ( SBAR ( IN that ) ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBD expected ) ( NP ( NP ( NNS losses ) ) ( VP ( VBG stemming ) ( PP-CLR ( IN from ) ( NP ( NP ( DT a ) ( NN series ) ) ( PP ( IN of ) ( NP ( JJ unprofitable ) ( NNS orders ) ) ) ) ) ) ) ) ) ) ) )

The shipyard disclosed in mid-August that it expected losses stemming from a series of unprofitable orders


( S ( NP-SBJ ( NNP Manville ) ( NNP Corp. ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( PRP it ) ) ( VP ( MD will ) ( VP ( VB build ) ( NP ( NP ( DT a ) ( ADJP ( QP ( CD 24 ) ( CD million ) ) ) ( NN power ) ( NN plant ) ) ( SBAR-PRP ( S ( VP ( TO to ) ( VP ( VB provide ) ( NP ( NN electricity ) ) ( PP-CLR ( TO to ) ( NP ( NP ( PRP$ its ) ( NNP Igaras ) ( NN pulp ) ( CC and ) ( NN paper ) ( NN mill ) ) ( PP-LOC ( IN in ) ( NP ( NNP Brazil ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Manville Corp. said it will build a 24 million power plant to provide electricity to its Igaras pulp and paper mill in Brazil


( S ( NP-SBJ ( DT The ) ( NN company ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( DT the ) ( NN plant ) ) ( VP ( VP ( MD will ) ( VP ( VB ensure ) ( SBAR ( IN that ) ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBZ has ) ( NP ( NP ( JJ adequate ) ( NN energy ) ) ( PP ( IN for ) ( NP ( DT the ) ( NN mill ) ) ) ) ) ) ) ) ) ( CC and ) ( VP ( MD will ) ( VP ( VB reduce ) ( NP ( NP ( DT the ) ( NN mill ) ( POS 's ) ) ( NN energy ) ( NNS costs ) ) ) ) ) ) ) ) )

The company said the plant will ensure that it has adequate energy for the mill and will reduce the mill 's energy costs


( S ( NP-SBJ ( NNP Manville ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBZ expects ) ( S ( NP-SBJ-1 ( DT the ) ( NN plant ) ) ( VP ( TO to ) ( VP ( VB begin ) ( S ( VP ( VBG operating ) ( PP-TMP ( IN at ) ( NP ( NP ( DT the ) ( NN end ) ) ( PP ( IN of ) ( NP ( CD 1991 ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Manville said it expects the plant to begin operating at the end of 1991


( S ( NP-SBJ-2 ( NN Designer ) ( NNP Sandra ) ( NNP Garratt ) ) ( VP ( VBD filed ) ( PP-CLR ( IN for ) ( NP ( NN Chapter ) ( CD 7 ) ( NNP Bankruptcy ) ( NNP Code ) ( NN protection ) ) ) ( S-ADV ( VP ( VBG saying ) ( SBAR ( IN that ) ( S ( NP-SBJ-1 ( PRP$ her ) ( NN cash ) ( NN flow ) ) ( VP ( VBD had ) ( VP ( VBN been ) ( VP ( VBN cut ) ( PRT ( IN off ) ) ) ) ) ) ) ) ) ) )

Designer Sandra Garratt filed for Chapter 7 Bankruptcy Code protection saying that her cash flow had been cut off


( S ( NP-SBJ ( NP ( DT The ) ( NN designer ) ) ( SBAR ( WHNP-1 ( WHNP ( WP$ whose ) ( NN line ) ) ( PP ( IN of ) ( NP ( JJ modular ) ( JJ one-size-fits-all ) ( NN clothing ) ) ) ) ( S ( VP ( VBZ has ) ( VP ( VBN spawned ) ( NP ( NP ( DT a ) ( NN host ) ) ( PP ( IN of ) ( NP ( NNS clones ) ) ) ) ) ) ) ) ) ( VP ( VBZ has ) ( VP ( VBN been ) ( PP-LOC-PRD ( IN in ) ( NP ( NP ( DT a ) ( NN dispute ) ) ( PP ( IN with ) ( NP ( NP ( PRP$ her ) ( JJS latest ) ( NN licensee ) ) ( NP ( NNP Jerell ) ( NNP Inc. ) ) ) ) ) ) ( PP-TMP ( IN for ) ( NP ( JJ several ) ( NNS months ) ) ) ) ) )

The designer whose line of modular one-size-fits-all clothing has spawned a host of clones has been in a dispute with her latest licensee Jerell Inc. for several months


( S ( NP-SBJ ( NNP Ms. ) ( NNP Garratt ) ) ( VP ( VBD was ) ( NP-PRD ( NP ( DT the ) ( NN subject ) ) ( PP ( IN of ) ( NP ( DT a ) ( NNP Wall ) ( NNP Street ) ( NNP Journal ) ( NN article ) ) ) ) ( PP-TMP ( IN in ) ( NP ( NNP March ) ) ) ) )

Ms. Garratt was the subject of a Wall Street Journal article in March


( S ( NP-SBJ ( NP ( NP ( DT The ) ( NN designer ) ( POS 's ) ) ( NN attorney ) ) ( NP ( NNP Molly ) ( NNP Bartholow ) ) ) ( VP ( VBD said ) ( SBAR ( IN that ) ( S ( NP-SBJ-1 ( NNP Ms. ) ( NNP Garratt ) ) ( VP ( VBD was ) ( VP ( VBN forced ) ( S ( VP ( TO to ) ( VP ( VB start ) ( NP ( NN bankruptcy-law ) ( NNS proceedings ) ) ) ) ) ( SBAR-PRP ( IN because ) ( S ( NP-SBJ-2 ( NNP Jerell ) ) ( VP ( VBD began ) ( S ( VP ( VBG withholding ) ( NP ( PRP$ her ) ( NN royalty ) ( NNS payments ) ) ( NP-TMP ( JJ last ) ( NN month ) ) ) ) ) ) ) ) ) ) ) ) )

The designer 's attorney Molly Bartholow said that Ms. Garratt was forced to start bankruptcy-law proceedings because Jerell began withholding her royalty payments last month


( S ( NP-SBJ ( NNP Jerell ) ) ( VP ( VBD paid ) ( NP ( NNP Ms. ) ( NNP Garratt ) ) ( NP ( NP ( NNS royalties ) ) ( PP ( IN for ) ( NP ( NP ( DT the ) ( NN line ) ) ( VP ( VBN known ) ( PP-CLR ( IN as ) ( NP ( NP ( NNPS Multiples ) ) ( PP ( IN by ) ( NP ( NNP Sandra ) ( NNP Garratt ) ) ) ) ) ) ( SBAR ( WHNP-2 ( WDT which ) ) ( S ( VP ( VBP are ) ( VP ( VBN sold ) ( PP-MNR ( ADVP ( RB primarily ) ) ( IN through ) ( NP ( NN department ) ( NNS stores ) ) ) ) ) ) ) ) ) ) ) )

Jerell paid Ms. Garratt royalties for the line known as Multiples by Sandra Garratt which are sold primarily through department stores


( S ( NP-SBJ-1 ( NNP Ms. ) ( NNP Garratt ) ) ( VP ( VBD sued ) ( NP ( DT the ) ( NNP Dallas ) ( NN apparel ) ( NN maker ) ) ( ADVP-TMP ( RBR earlier ) ( NP ( DT this ) ( NN year ) ) ) ( S-ADV ( VP ( VBG charging ) ( SBAR ( IN that ) ( S ( NP-SBJ ( NNP Jerell ) ) ( VP ( VBD developed ) ( CC and ) ( VBD marketed ) ( NP ( NP ( NN clothing ) ( NNS lines ) ) ( VP ( VBN fashioned ) ( PP-CLR ( IN after ) ( NP ( PRP$ her ) ( NNS designs ) ) ) ( PP-MNR ( IN in ) ( NP ( NP ( NN violation ) ) ( PP ( IN of ) ( NP ( PRP$ their ) ( NN contract ) ) ) ) ) ) ) ) ) ) ) ) ) )

Ms. Garratt sued the Dallas apparel maker earlier this year charging that Jerell developed and marketed clothing lines fashioned after her designs in violation of their contract


( S ( NP-SBJ ( DT That ) ( NN lawsuit ) ) ( VP ( VBZ is ) ( ADVP ( RB still ) ) ( VP ( VBG pending ) ) ) )

That lawsuit is still pending


( S ( NP-SBJ-1 ( NNP Jerell ) ) ( VP ( MD could ) ( RB n't ) ( ADVP-TMP ( RB immediately ) ) ( VP ( VB be ) ( VP ( VBN reached ) ( PP-CLR ( IN for ) ( NP ( NN comment ) ) ) ) ) ) )

Jerell could n't immediately be reached for comment


( S ( NP-SBJ-1 ( NP ( NNP Ms. ) ( NNP Garratt ) ( POS 's ) ) ( NNS assets ) ( CC and ) ( NNS liabilities ) ) ( VP ( VBD were ) ( RB n't ) ( VP ( VBN disclosed ) ) ) )

Ms. Garratt 's assets and liabilities were n't disclosed


( S ( NP-SBJ ( NP ( NNP Capital ) ( NNP Cities\/ABC ) ( NNP Inc. ) ( POS 's ) ) ( JJ net ) ( NN income ) ) ( VP ( VBD rose ) ( NP-EXT ( CD 29 ) ( NN % ) ) ( PP ( PP ( IN on ) ( NP ( NP ( DT a ) ( JJ modest ) ( ADJP ( CD 9 ) ( NN % ) ) ( NN increase ) ) ( PP-LOC ( IN in ) ( NP ( NN revenue ) ) ) ( PP-TMP ( IN in ) ( NP ( DT the ) ( JJ third ) ( NN quarter ) ) ) ) ) ( PP ( ADVP ( RB mainly ) ) ( IN on ) ( NP ( NP ( JJ strong ) ( NN advertising ) ( NN demand ) ) ( PP-LOC ( IN at ) ( NP ( PRP$ its ) ( NNP ABC ) ( NN television ) ( NN network ) ( NN operation ) ) ) ) ) ) ) )

Capital Cities\/ABC Inc. 's net income rose 29 % on a modest 9 % increase in revenue in the third quarter mainly on strong advertising demand at its ABC television network operation


( S ( NP-SBJ ( NP ( NN Demand ) ) ( PP ( IN for ) ( NP ( NNS ads ) ) ) ) ( ADVP ( RB also ) ) ( VP ( VBD rose ) ( PP-LOC ( PP ( IN at ) ( NP ( NP ( DT the ) ( CD eight ) ( NN TV ) ( NNS stations ) ) ( SBAR ( S ( NP-SBJ ( NNP Capital ) ( NNPS Cities ) ) ( VP ( VBZ owns ) ) ) ) ) ) ( CC and ) ( PP ( IN at ) ( NP ( PRP$ its ) ( JJ 80%-owned ) ( NNP ESPN ) ( NNS sports ) ( NN cable ) ( NN channel ) ) ) ) ) )

Demand for ads also rose at the eight TV stations Capital Cities owns and at its 80%-owned ESPN sports cable channel


( S ( NP-SBJ ( DT The ) ( NN broadcast ) ( CC and ) ( VBG publishing ) ( NN company ) ) ( VP ( VBD reported ) ( SBAR ( S ( NP-SBJ ( NN net ) ) ( VP ( VBD climbed ) ( PP-DIR ( TO to ) ( NP ( NP ( QP ( CD 80.8 ) ( CD million ) ) ) ( CC or ) ( NP ( NP ( CD 4.56 ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ) ( PP-DIR ( IN from ) ( NP ( NP ( QP ( CD 62.6 ) ( CD million ) ) ) ( CC or ) ( NP ( NP ( CD 3.55 ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ( PP-TMP ( IN in ) ( NP ( DT the ) ( JJ year-earlier ) ( NN period ) ) ) ) ) ) ) ) )

The broadcast and publishing company reported net climbed to 80.8 million or 4.56 a share from 62.6 million or 3.55 a share in the year-earlier period


( S ( NP-SBJ ( NN Revenue ) ) ( VP ( VBD reached ) ( NP ( QP ( CD 1.1 ) ( CD billion ) ) ) ( PP-DIR ( IN from ) ( NP ( QP ( CD 1.01 ) ( CD billion ) ) ) ) ) )

Revenue reached 1.1 billion from 1.01 billion


( S ( PP-LOC ( IN In ) ( NP ( NNP New ) ( NNP York ) ( NNP Stock ) ( NNP Exchange ) ( NN composite ) ( NN trading ) ) ) ( NP-TMP ( NN yesterday ) ) ( NP-SBJ ( NNP Capital ) ( NNPS Cities ) ) ( VP ( VBD closed ) ( PP-LOC ( IN at ) ( NP ( CD 558.50 ) ) ) ( ADVP ( IN down ) ( NP ( CD 5 ) ) ) ) )

In New York Stock Exchange composite trading yesterday Capital Cities closed at 558.50 down 5


( S ( NP-SBJ ( DT The ) ( NN broadcasting ) ( NN unit ) ) ( VP ( VBD reported ) ( NP ( NP ( VBG operating ) ( NN profit ) ) ( PP ( IN of ) ( NP ( QP ( CD 134.9 ) ( CD million ) ) ) ) ( ADVP ( IN up ) ( NP ( CD 18 ) ( NN % ) ) ( PP ( IN from ) ( NP ( DT the ) ( JJ year-earlier ) ( QP ( CD 114.3 ) ( CD million ) ) ) ) ) ) ) )

The broadcasting unit reported operating profit of 134.9 million up 18 % from the year-earlier 114.3 million


( S ( NP-SBJ ( NN Publishing ) ) ( VP ( VBD reported ) ( SBAR ( S ( NP-SBJ ( VBG operating ) ( NN profit ) ) ( VP ( VBD was ) ( NP ( QP ( CD 33.3 ) ( CD million ) ) ) ( ADJP-PRD ( RB nearly ) ( JJ flat ) ( PP ( IN with ) ( NP ( DT the ) ( JJ year-before ) ( QP ( CD 33 ) ( CD million ) ) ) ) ) ) ) ) ) )

Publishing reported operating profit was 33.3 million nearly flat with the year-before 33 million


( S ( NP-SBJ ( NP ( NN Revenue ) ) ( PP-LOC ( IN at ) ( NP ( NP ( DT the ) ( NN broadcasting ) ( NN unit ) ) ( VP ( VBG consisting ) ( PP-CLR ( IN of ) ( NP ( DT the ) ( NN network ) ( CC and ) ( NNS stations ) ) ) ) ) ) ) ( VP ( VBD advanced ) ( NP-EXT ( CD 11 ) ( NN % ) ) ( PP-DIR ( TO to ) ( NP ( QP ( CD 838 ) ( CD million ) ) ) ) ( PP-DIR ( IN from ) ( NP ( QP ( CD 752.9 ) ( CD million ) ) ) ) ) )

Revenue at the broadcasting unit consisting of the network and stations advanced 11 % to 838 million from 752.9 million


( S ( NP-SBJ ( DT The ) ( NN publishing ) ( NN unit ) ) ( VP ( VBD reported ) ( SBAR ( S ( NP-SBJ ( NN revenue ) ) ( VP ( VBD edged ) ( PRT ( RP up ) ) ( NP-EXT ( CD 2.6 ) ( NN % ) ) ( PP-DIR ( TO to ) ( NP ( QP ( CD 263.2 ) ( CD million ) ) ) ) ( PP-DIR ( IN from ) ( NP ( QP ( CD 256.6 ) ( CD million ) ) ) ) ) ) ) ) )

The publishing unit reported revenue edged up 2.6 % to 263.2 million from 256.6 million


( S ( NP-SBJ ( NNP Chairman ) ( NNP Thomas ) ( NNP S. ) ( NNP Murphy ) ) ( VP ( VBD cited ) ( NP ( NP ( NNP Capital ) ( NNPS Cities ) ( POS ' ) ) ( CD nine ) ( JJ daily ) ( NNS newspapers ) ) ( PP ( IN in ) ( S-NOM ( VP ( VBG explaining ) ( NP ( NP ( JJS most ) ) ( PP ( IN of ) ( NP ( DT the ) ( NN gain ) ) ) ) ) ) ) ) )

Chairman Thomas S. Murphy cited Capital Cities ' nine daily newspapers in explaining most of the gain


( S ( NP-SBJ ( DT The ) ( NN parent ) ) ( ADVP ( RB also ) ) ( VP ( VBZ publishes ) ( NP ( NP ( NNS weeklies ) ) ( NP ( VBG shopping ) ( NNS guides ) ) ( CC and ) ( NP ( NN specialty ) ( NNS magazines ) ) ) ) )

The parent also publishes weeklies shopping guides and specialty magazines


( S ( PP-TMP ( IN For ) ( NP ( NP ( CD 1989 ) ( POS 's ) ) ( JJ first ) ( CD nine ) ( NNS months ) ) ) ( NP-SBJ ( NNP Capital ) ( NNPS Cities ) ( JJ net ) ( NN income ) ) ( VP ( VBD grew ) ( NP-EXT ( CD 23 ) ( NN % ) ) ( PP-DIR ( TO to ) ( NP ( NP ( QP ( CD 303.7 ) ( CD million ) ) ) ( CC or ) ( NP ( NP ( CD 16.97 ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ) ( PP-DIR ( IN from ) ( NP ( NP ( QP ( CD 246.9 ) ( CD million ) ) ) ( CC or ) ( NP ( NP ( CD 14.43 ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ) ) )

For 1989 's first nine months Capital Cities net income grew 23 % to 303.7 million or 16.97 a share from 246.9 million or 14.43 a share


( S ( NP-SBJ ( NN Revenue ) ) ( VP ( VBD eased ) ( NP-EXT ( CD 0.3 ) ( NN % ) ) ( PP-DIR ( TO to ) ( NP ( QP ( CD 3.45 ) ( CD billion ) ) ) ) ( PP-DIR ( IN from ) ( NP ( QP ( CD 3.46 ) ( CD billion ) ) ) ) ) )

Revenue eased 0.3 % to 3.45 billion from 3.46 billion


( S ( NP-TMP ( JJ Last ) ( NN week ) ) ( NP-SBJ ( NNP ABC ) ) ( VP ( JJ unseated ) ( NP ( NP ( NNP General ) ( NNP Electric ) ( NNP Co. ) ( POS 's ) ) ( NNP National ) ( NNP Broadcasting ) ( NNP Co. ) ( NN unit ) ) ( PP-CLR ( IN as ) ( NP ( DT the ) ( NN No. ) ( CD 1 ) ( NN network ) ) ) ( PP-CLR ( IN as ) ( S-NOM ( VP ( VBN rated ) ( PP ( IN by ) ( NP-LGS ( NNP A.C. ) ( NNP Nielsen ) ( NNP Co ) ) ) ) ) ) ) )

Last week ABC unseated General Electric Co. 's National Broadcasting Co. unit as the No. 1 network as rated by A.C. Nielsen Co


( S ( NP-SBJ ( NNP ABC ) ) ( VP ( VBZ has ) ( NP ( NP ( CD four ) ( NNS shows ) ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( NN top ) ( CD 10 ) ) ) ) ( PP ( VBG including ) ( NP ( NP ( DT the ) ( JJ top ) ( NN show ) ) ( NP ( NNP Roseanne ) ) ) ) ) )

ABC has four shows in the top 10 including the top show Roseanne


( S ( NP-SBJ ( NNP Weyerhaeuser ) ( NNP Co. ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBD sold ) ( NP ( PRP$ its ) ( JJ wall-paneling ) ( NN business ) ) ( PP-DTV ( TO to ) ( NP ( NP ( DT an ) ( NN affiliate ) ) ( PP ( IN of ) ( NP ( NP ( CD one ) ) ( PP ( IN of ) ( NP ( NP ( NNP Indonesia ) ( POS 's ) ) ( JJS largest ) ( NNS wood-products ) ( NNS firms ) ) ) ) ) ) ) ) ) ) ) )

Weyerhaeuser Co. said it sold its wall-paneling business to an affiliate of one of Indonesia 's largest wood-products firms


( S ( NP-SBJ-1 ( NP ( NNS Terms ) ) ( PP ( IN of ) ( NP ( DT the ) ( NN transaction ) ) ) ) ( VP ( VBD were ) ( RB n't ) ( VP ( VBN disclosed ) ) ) )

Terms of the transaction were n't disclosed


( S ( NP-SBJ ( NNP Weyerhaeuser ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( PRP$ its ) ( NN paneling ) ( NN business ) ) ( VP ( VBZ employs ) ( NP ( QP ( IN about ) ( CD 300 ) ) ( NNS workers ) ) ( PP-LOC ( IN at ) ( NP ( NP ( CD two ) ( NNS facilities ) ) ( PP-LOC ( IN in ) ( NP ( NP ( NP ( NNP Chesapeake ) ) ( NP ( NNP Va. ) ) ) ( CC and ) ( NP ( NP ( NNP Hancock ) ) ( NP ( NNP Vt ) ) ) ) ) ) ) ) ) ) ) )

Weyerhaeuser said its paneling business employs about 300 workers at two facilities in Chesapeake Va. and Hancock Vt


( S ( NP-SBJ ( NP ( NNP Carlos ) ( NNP A. ) ( NNP Salvagni ) ) ( NP ( NP ( NN vice ) ( NN president ) ) ( NP ( JJ pharmaceutical ) ( NN manufacturing ) ) ) ) ( VP ( MD will ) ( VP ( VB assume ) ( NP ( NP ( NN responsibility ) ) ( PP ( IN for ) ( NP ( NP ( NN manufacturing ) ) ( PP-LOC ( IN in ) ( NP ( NP ( NNP Kalamazoo ) ) ( NP ( NNP Mich. ) ) ) ) ) ) ( ADJP ( JJ effective ) ( NP-TMP ( NNP Nov. ) ( CD 1 ) ) ) ) ) ) )

Carlos A. Salvagni vice president pharmaceutical manufacturing will assume responsibility for manufacturing in Kalamazoo Mich. effective Nov. 1


( S ( NP-SBJ ( NP ( NNP Mr. ) ( NNP Salvagni ) ) ( ADJP ( NP ( CD 53 ) ( NNS years ) ) ( JJ old ) ) ) ( VP ( VBZ succeeds ) ( NP ( NP ( NNP John ) ( NNP C. ) ( NNP Griffin ) ) ( NP ( CD 57 ) ) ( SBAR ( WHNP-1 ( WP who ) ) ( S ( VP ( VBZ is ) ( VP ( VBG retiring ) ( PP-CLR ( RB as ) ( NP ( NP ( JJ corporate ) ( NN vice ) ( NN president ) ) ( PP ( IN of ) ( NP ( JJ pharmaceutical ) ( NN manufacturing ) ) ) ) ) ) ) ) ) ) ) )

Mr. Salvagni 53 years old succeeds John C. Griffin 57 who is retiring as corporate vice president of pharmaceutical manufacturing


( S ( NP-SBJ ( NNP Upjohn ) ) ( VP ( VBZ is ) ( NP-PRD ( NP ( DT a ) ( JJ world-wide ) ( NN provider ) ) ( PP ( IN of ) ( NP ( NP ( NP ( JJ health-care ) ( NNS products ) ) ( CC and ) ( NP ( NNS services ) ) ) ( NP ( NP ( NNS seeds ) ) ( CC and ) ( NP ( NN speciality ) ( NNS chemicals ) ) ) ) ) ) ) )

Upjohn is a world-wide provider of health-care products and services seeds and speciality chemicals


( S-HLN ( NP-SBJ-1 ( NN MINORITY ) ( NN RECRUITING ) ) ( VP ( VBZ has ) ( ADVP ( RB yet ) ) ( S ( VP ( TO to ) ( VP ( VB meet ) ( NP ( NP ( NNS hopes ) ) ( VP ( VBN raised ) ( PP ( IN by ) ( NP-LGS ( NNP Bush ) ( NN administration ) ) ) ) ) ) ) ) ) )

MINORITY RECRUITING has yet to meet hopes raised by Bush administration


( S ( ADVP-TMP ( NP ( CD Six ) ( NNS months ) ) ( IN ago ) ) ( SBAR-ADV ( IN as ) ( S ( NP-SBJ ( DT some ) ( NNS personnel ) ( NNS specialists ) ) ( VP ( VBD saw ) ( NP ( PRP it ) ) ) ) ) ( NP-SBJ ( DT a ) ( NN perception ) ( SBAR ( IN that ) ( S ( NP-SBJ ( NNP President ) ( NNP Bush ) ) ( VP ( ADVP ( RB really ) ) ( VBD cared ) ( PP-CLR ( IN about ) ( NP ( JJ fair ) ( NN employment ) ) ) ) ) ) ) ( PRN ( PP ( IN after ) ( SBAR-NOM ( WHNP-1 ( WP what ) ) ( S ( NP-SBJ ( PRP they ) ) ( VP ( VBD said ) ( SBAR ( S ( VP ( VBD was ) ( NP-PRD ( NP ( CD eight ) ( NNS years ) ) ( PP ( IN of ) ( NP ( NN Reagan-era ) ( NN neglect ) ) ) ) ) ) ) ) ) ) ) ) ( VP ( VBD was ) ( VP ( VBG prodding ) ( S ( NP-SBJ ( JJ top ) ( NN management ) ) ( VP ( TO to ) ( VP ( VB raise ) ( NP ( NP ( VBG hiring ) ( NNS goals ) ) ( PP ( IN for ) ( NP ( NP ( NNS females ) ) ( NP ( NNS blacks ) ) ( CC and ) ( NP ( JJ other ) ( NNS minorities ) ) ) ) ) ) ) ) ) ) )

Six months ago as some personnel specialists saw it a perception that President Bush really cared about fair employment after what they said was eight years of Reagan-era neglect was prodding top management to raise hiring goals for females blacks and other minorities


( SINV ( S-TPC-1 ( NP-SBJ ( DT The ) ( NN perception ) ) ( VP ( VBZ lingers ) ) ) ( VP ( VBZ says ) ) ( NP-SBJ ( NP ( DT an ) ( NN official ) ) ( PP-LOC ( IN at ) ( NP ( DT a ) ( JJ major ) ( JJ industrial ) ( NN company ) ) ) ) )

The perception lingers says an official at a major industrial company


( S-2 ( CC But ) ( ADVP ( RB so ) ( RB far ) ) ( PRN ( S ( NP-SBJ ( PRP he ) ) ( VP ( VBZ declares ) ) ) ) ( NP-SBJ ( EX there ) ) ( VP ( VBZ 's ) ( NP-PRD ( JJ little ) ( NN evidence ) ( SBAR ( S ( NP-SBJ ( DT the ) ( JJ new ) ( NN urgency ) ) ( VP ( VBZ is ) ( VP ( VBG trickling ) ( PRT ( RP down ) ) ( PP-CLR ( TO to ) ( NP ( NP ( DT the ) ( NNS managers ) ) ( SBAR ( WHNP-1 ( WP who ) ) ( S ( VP ( ADVP ( RB actually ) ) ( VBP do ) ( NP ( NN hiring ) ) ) ) ) ) ) ) ) ) ) ) ) )

But so far he declares there 's little evidence the new urgency is trickling down to the managers who actually do hiring


( S ( SQ-TPC-1 ( VBZ Is ) ( NP-SBJ ( EX there ) ) ( ADVP ( RB really ) ) ( NP-PRD ( NP ( DT a ) ( NN commitment ) ) ( CC or ) ( NP ( NP ( DT an ) ( NN illusion ) ) ( PP ( IN of ) ( NP ( NN activity ) ) ) ) ) ) ( NP-SBJ ( PRP he ) ) ( VP ( VBZ asks ) ) )

Is there really a commitment or an illusion of activity he asks


( SINV ( S-TPC-2 ( NP-SBJ ( DT The ) ( NN recruiting ) ) ( VP ( VBZ has ) ( RB n't ) ( VP ( VBD materialized ) ) ) ) ( VP ( VBZ asserts ) ) ( NP-SBJ ( NP ( NNP Jeffrey ) ( NNP Christian ) ) ( SBAR ( WHNP-1 ( WP who ) ) ( S ( VP ( VBZ runs ) ( NP ( DT a ) ( NN search ) ( NN agency ) ) ) ) ) ) )

The recruiting has n't materialized asserts Jeffrey Christian who runs a search agency


( S ( NP-SBJ ( NP ( NNP Samuel ) ( NNP Hall ) ) ( NP ( NP ( NNP Howard ) ( NNP University ) ( POS 's ) ) ( NN placement ) ( NN director ) ) ) ( ADVP ( RB also ) ) ( VP ( VBZ does ) ( RB n't ) ( VP ( VB see ) ( NP ( PRP it ) ) ) ) )

Samuel Hall Howard University 's placement director also does n't see it


( S ( CC And ) ( NP-SBJ ( PRP he ) ) ( VP ( VBZ questions ) ( NP ( DT the ) ( NNP White ) ( NNP House ) ( NN dedication ) ) ) )

And he questions the White House dedication


( S ( S-TPC-1 ( NP-SBJ ( PRP I ) ) ( VP ( VBP do ) ( RB n't ) ( VP ( VB think ) ( SBAR ( S ( NP-SBJ ( DT the ) ( NNP Bush ) ( NN administration ) ) ( VP ( VBZ has ) ( VP ( VBN done ) ( NP ( NN anything ) ) ) ) ) ) ) ) ) ( NP-SBJ ( PRP he ) ) ( VP ( VBZ says ) ) )

I do n't think the Bush administration has done anything he says


( S ( NP-SBJ ( NNP Recruiter ) ( NNP Donald ) ( NNP Clark ) ) ( VP ( VBZ does ) ( VP ( VB note ) ( NP ( NP ( DT an ) ( NN increase ) ) ( PP ( IN in ) ( NP ( NP ( NNS searches ) ) ( PP ( IN for ) ( NP ( NN minority ) ( NNS candidates ) ) ) ) ) ) ) ) )

Recruiter Donald Clark does note an increase in searches for minority candidates


( S-1 ( CC But ) ( NP-SBJ ( NP ( DT some ) ) ( PP ( IN of ) ( NP ( DT the ) ( NN activity ) ) ) ) ( PRN ( S ( NP-SBJ ( PRP he ) ) ( VP ( VBZ says ) ) ) ) ( VP ( MD may ) ( VP ( VB reflect ) ( NP ( NP ( DT a ) ( NN rush ) ) ( SBAR ( S ( VP ( TO to ) ( VP ( VB get ) ( S ( NP-SBJ ( NNS numbers ) ) ( PP-PRD ( IN in ) ( NP ( NN order ) ) ) ) ( PP-PRP ( IN for ) ( NP ( JJ end-of-year ) ( NNS reports ) ) ) ) ) ) ) ) ) ) )

But some of the activity he says may reflect a rush to get numbers in order for end-of-year reports


( S-HLN ( NP-SBJ ( NP ( NN PAY ) ) ( PP ( IN FOR ) ( NP ( NN PERFORMANCE ) ) ) ) ( VP ( VBZ hangs ) ( ADVP ( RB mostly ) ) ( PP-CLR ( IN on ) ( NP ( NP ( NN boss ) ( POS 's ) ) ( JJ subjective ) ( NN view ) ) ) ) )

PAY FOR PERFORMANCE hangs mostly on boss 's subjective view


( S ( NP-SBJ ( NNP Du ) ( NNP Pont ) ( NNP Co. ) ) ( PP-LOC ( IN in ) ( NP ( NP ( DT a ) ( NN couple ) ) ( PP ( IN of ) ( NP ( NNS units ) ) ) ) ) ( VP ( VBZ has ) ( VP ( VBN installed ) ( NP ( NP ( JJ objective ) ( NNS tests ) ) ( VP ( VBN based ) ( PP-CLR ( IN on ) ( NP ( NP ( NNS earnings ) ) ( CC or ) ( NP ( NP ( NN return ) ) ( PP ( IN on ) ( NP ( NN equity ) ) ) ) ) ) ) ) ) ) )

Du Pont Co. in a couple of units has installed objective tests based on earnings or return on equity


( S ( NP-SBJ ( JJ Many ) ( NNS companies ) ) ( VP ( VBP have ) ( VP ( VBN set ) ( PRT ( RP up ) ) ( NP ( NP ( NN machinery ) ) ( SBAR ( S ( VP ( TO to ) ( VP ( VB assure ) ( NP ( NNS workers ) ) ( NP ( DT a ) ( JJ fair ) ( NN shake ) ) ) ) ) ) ) ) ) )

Many companies have set up machinery to assure workers a fair shake


( S ( PP-LOC ( IN At ) ( NP ( JJS most ) ( NNS firms ) ) ) ( ADVP ( RB though ) ) ( NP-SBJ ( PRP it ) ) ( VP ( VBZ 's ) ( NP-PRD ( NP ( DT the ) ( JJ immediate ) ( NN supervisor ) ) ( SBAR ( WHNP-2 ( WP who ) ) ( S ( VP ( VBZ decides ) ( NP ( NP ( DT the ) ( NN merit ) ( VBZ increases ) ) ( SBAR ( S ( NP-SBJ-1 ( NNS subordinates ) ) ( VP ( MD will ) ( VP ( VB be ) ( VP ( VBN paid ) ) ) ) ) ) ) ) ) ) ) ) )

At most firms though it 's the immediate supervisor who decides the merit increases subordinates will be paid


( SINV ( S-TPC-1 ( NP-SBJ ( NNS Managers ) ) ( VP ( VBP have ) ( NP ( DT some ) ( ADJP ( RB very ) ( JJ broad ) ) ( NN discretion ) ) ) ) ( VP ( VBZ says ) ) ( NP-SBJ ( NP ( DT an ) ( NN official ) ) ( PP-LOC ( IN at ) ( NP ( NNP Walt ) ( NNP Disney ) ( NNP Co ) ) ) ) )

Managers have some very broad discretion says an official at Walt Disney Co


( S ( S ( NP-SBJ ( NP ( NNP Unocal ) ( NNP Corp. ) ( POS 's ) ) ( JJ top ) ( NN management ) ) ( VP ( VBZ sets ) ( NP ( NNS guidelines ) ) ) ) ( CC but ) ( S ( NP-SBJ ( NN line ) ( NNS supervisors ) ) ( VP ( VBP slice ) ( PRT ( RP up ) ) ( NP ( DT the ) ( NN merit ) ( NN pie ) ) ) ) )

Unocal Corp. 's top management sets guidelines but line supervisors slice up the merit pie


( S ( S ( NP-SBJ ( NNP Lotus ) ( NNP Development ) ( NNP Corp. ) ) ( VP ( VBZ feeds ) ( NP ( PRP$ its ) ( NNS evaluations ) ) ( PP-CLR ( IN into ) ( NP ( DT a ) ( NN computer ) ) ) ( PRN ( CC but ) ( ADVP ( RB only ) ) ( PP-PRP ( IN for ) ( NP ( NN storage ) ) ) ) ) ) ( S ( NP-SBJ-1 ( DT the ) ( NNS decisions ) ) ( VP ( VBP are ) ( VP ( VBN made ) ( PP ( IN by ) ( NP-LGS ( NNS supervisors ) ) ) ) ) ) )

Lotus Development Corp. feeds its evaluations into a computer but only for storage the decisions are made by supervisors


( S ( NP-SBJ-1 ( NNP Hershey ) ( NNPS Foods ) ( NNP Corp. ) ) ( VP ( VBZ strives ) ( PP-CLR ( IN for ) ( NP ( NN fairness ) ) ) ( PP-MNR ( IN by ) ( S-NOM ( VP ( VBG basing ) ( NP ( NNS increases ) ) ( PP-CLR ( IN on ) ( NP ( NP ( JJ quarterly ) ( NNS reviews ) ) ( NP ( JJ annual ) ( NNS appraisals ) ) ( CC and ) ( NP ( NP ( NNS meetings ) ) ( PP ( IN with ) ( NP ( NNS workers ) ) ) ) ) ) ) ) ) ) )

Hershey Foods Corp. strives for fairness by basing increases on quarterly reviews annual appraisals and meetings with workers


( S ( PP-LOC ( IN At ) ( NP ( NNP Chemfix ) ( NNP Technology ) ( NNP Inc. ) ) ) ( NP-SBJ-1 ( NP ( DT each ) ( NN supervisor ) ( POS 's ) ) ( NN recommendation ) ) ( VP ( MD must ) ( VP ( VB be ) ( VP ( VP ( VBN approved ) ( PP ( IN by ) ( NP-LGS ( NP ( DT the ) ( JJ next ) ( NN boss ) ) ( PP-LOC ( IN up ) ( NP ( DT the ) ( NN line ) ) ) ) ) ) ( CC and ) ( ADVP ( RB then ) ) ( VP ( VBN sanctioned ) ( PP ( IN by ) ( NP-LGS ( DT a ) ( NN salary ) ( NN review ) ( NN committee ) ) ) ) ) ) ) )

At Chemfix Technology Inc. each supervisor 's recommendation must be approved by the next boss up the line and then sanctioned by a salary review committee


( S-HLN ( NP-SBJ ( JJ JAPANESE ) ( NNS COMPANIES ) ) ( VP ( VBP fare ) ( ADVP-MNR ( RB best ) ) ( PP-LOC ( IN in ) ( NP ( NNP U.S. ) ) ) ( SBAR-TMP ( WHADVP-1 ( WRB when ) ) ( S ( NP-SBJ ( PRP they ) ) ( VP ( VBP give ) ( NP ( NNPS Americans ) ) ( NP ( JJR more ) ( NN say ) ) ) ) ) ) )

JAPANESE COMPANIES fare best in U.S. when they give Americans more say


( S ( NP-SBJ ( NAC ( NNP University ) ( PP ( IN of ) ( NP ( NNP Michigan ) ) ) ) ( NNS researchers ) ) ( VP ( VBP find ) ( SBAR ( S ( NP-SBJ ( DT the ) ( NNS companies ) ) ( VP ( VP ( VBP earn ) ( NP ( RBR more ) ) ) ( CC and ) ( VP ( VBP win ) ( NP ( DT a ) ( JJR bigger ) ( NN market ) ( NN share ) ) ) ( SBAR-TMP ( WHADVP ( WRB when ) ) ( S ( NP-SBJ ( PRP$ their ) ( JJ American ) ( NNS employees ) ) ( VP ( VBP get ) ( NP ( NP ( DT a ) ( NN voice ) ) ( PP-LOC ( IN in ) ( NP ( NP ( NP ( NN planning ) ) ( NP ( NN product ) ( NN development ) ) ( CC and ) ( NP ( NN design ) ) ) ( PP ( VBG including ) ( NP ( NP ( JJ decision-making ) ) ( ADVP-LOC ( NN back ) ( PP ( IN in ) ( NP ( NNP Japan ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

University of Michigan researchers find the companies earn more and win a bigger market share when their American employees get a voice in planning product development and design including decision-making back in Japan


( SINV ( S-TPC-2 ( NP-SBJ ( PRP You ) ) ( VP ( MD ca ) ( RB n't ) ( VP ( VP ( VB hire ) ( NP ( JJ competent ) ( NNPS Americans ) ) ) ( CC and ) ( VP ( VB say ) ( S ( VP ( VB Let ) ( S ( NP-SBJ ( PRP them ) ) ( VP ( VB run ) ( NP ( RB only ) ( PRP$ their ) ( JJ own ) ( NN show ) ) ) ) ) ) ) ) ) ) ( VP ( VBZ says ) ) ( NP-SBJ ( NP ( NNP Vladimir ) ( NNP Pucik ) ) ( SBAR ( WHNP-1 ( WP who ) ) ( S ( VP ( VBD headed ) ( NP ( NP ( DT the ) ( NN study ) ) ( VP ( VBN run ) ( PP ( IN with ) ( NP ( NP ( NNP Egon ) ( NNP Zehnder ) ( NNP International ) ) ( NP ( DT a ) ( NN search ) ( NN firm ) ) ) ) ) ) ) ) ) ) )

You ca n't hire competent Americans and say Let them run only their own show says Vladimir Pucik who headed the study run with Egon Zehnder International a search firm


( S ( NP-SBJ ( DT The ) ( NNS researchers ) ) ( VP ( VBP say ) ( SBAR ( S ( NP-SBJ-1 ( JJ many ) ( JJ Japanese ) ( NNS companies ) ) ( VP ( VBP err ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( NNP U.S. ) ) ) ( PP-MNR ( IN by ) ( S-NOM ( VP ( VBG adopting ) ( NP ( NP ( DT the ) ( JJ American ) ( NN practice ) ) ( PP ( IN of ) ( S-NOM ( VP ( VBG hiring ) ( NP ( NNS managers ) ) ( PP-LOC ( IN on ) ( NP ( DT the ) ( JJ open ) ( NN market ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

The researchers say many Japanese companies err in the U.S. by adopting the American practice of hiring managers on the open market


( S ( PP-LOC ( IN In ) ( NP ( NNP Japan ) ) ) ( PP ( IN by ) ( NP ( NN contrast ) ) ) ( NP-SBJ-1 ( NNS companies ) ) ( VP ( VBP tend ) ( S ( VP ( TO to ) ( VP ( VP ( VB develop ) ( NP ( PRP$ their ) ( JJ own ) ( NN talent ) ) ) ( CC and ) ( VP ( VB promote ) ( PP ( IN from ) ( PP ( IN within ) ) ) ) ) ) ) ) )

In Japan by contrast companies tend to develop their own talent and promote from within


( S ( NP-SBJ-1 ( DT The ) ( NNP Japanese ) ) ( ADVP ( RB also ) ) ( VP ( VBP are ) ( VP ( VBN accused ) ( PP-CLR ( IN of ) ( S-NOM ( VP ( VBG keeping ) ( NP ( PRP$ their ) ( NNS cards ) ) ( ADJP-PRD ( RB too ) ( RB close ) ( PP ( TO to ) ( NP ( PRP$ their ) ( NNS vests ) ) ) ) ) ) ) ) ) )

The Japanese also are accused of keeping their cards too close to their vests


( S ( S-TPC-2 ( NP-SBJ-1 ( DT Some ) ( JJ Japanese ) ( NNS executives ) ) ( VP ( VBP are ) ( RB not ) ( ADVP ( RB yet ) ) ( ADJP-PRD ( JJ comfortable ) ( PP ( IN about ) ( S-NOM ( VP ( VBG sharing ) ( NP ( JJ strategic ) ( NN information ) ) ( PP-CLR ( IN with ) ( NP ( PRP$ their ) ( JJ American ) ( NNS colleagues ) ) ) ) ) ) ) ) ) ( NP-SBJ ( DT the ) ( NNS researchers ) ) ( VP ( VBP say ) ) )

Some Japanese executives are not yet comfortable about sharing strategic information with their American colleagues the researchers say


( S ( NP-SBJ ( NNPS Americans ) ) ( VP ( VBP stay ) ( ADVP ( RBR longer ) ) ( PP-CLR ( IN with ) ( NP ( NP ( JJ Japanese ) ( NNS firms ) ) ( PP-1 ( IN than ) ( NP ( JJ American ) ( NNS companies ) ) ) ) ) ) )

Americans stay longer with Japanese firms than American companies


( S ( CC But ) ( NP-SBJ ( PRP they ) ) ( VP ( VBP think ) ( SBAR ( S ( NP-SBJ ( NNS promotions ) ) ( VP ( VBP are ) ( ADJP-PRD ( VBN limited ) ) ) ) ) ) )

But they think promotions are limited


( S-HLN ( NP-SBJ ( DT THE ) ( NNP HOUSE ) ) ( VP ( VBZ votes ) ( PRT ( RP down ) ) ( NP ( NP ( DT a ) ( NN proposal ) ) ( SBAR ( S ( VP ( TO to ) ( VP ( VB put ) ( NP ( NN pension ) ( NNS plans ) ) ( PP-PUT ( IN under ) ( NP ( NP ( DT the ) ( NN control ) ) ( PP ( IN of ) ( NP ( JJ joint ) ( NN labor-management ) ( NNS boards ) ) ) ) ) ) ) ) ) ) ) )

THE HOUSE votes down a proposal to put pension plans under the control of joint labor-management boards


( S ( NP-SBJ ( DT Some ) ( NNS consultants ) ) ( VP ( VBD had ) ( VP ( VBN insisted ) ( SBAR ( S ( NP-SBJ ( PRP it ) ) ( VP ( MD would ) ( RB n't ) ( VP ( VB work ) ) ) ) ) ) ) )

Some consultants had insisted it would n't work


( S-HLN ( NP-SBJ ( JJ LONG-TERM ) ( NN care ) ( NN insurance ) ) ( VP ( VBZ gains ) ( NP ( NN favor ) ) ) )

LONG-TERM care insurance gains favor


( S ( NP-SBJ ( NP ( QP ( RBR More ) ( IN than ) ( PDT half ) ) ( DT the ) ( NNS people ) ) ( VP ( VBN surveyed ) ( PP ( IN for ) ( NP ( DT the ) ( NNP Employee ) ( NNP Benefit ) ( NNP Research ) ( NNP Institute ) ) ) ) ) ( VP ( VBP say ) ( SBAR ( S ( NP-SBJ-1 ( PRP they ) ) ( VP ( MD would ) ( VP ( VB be ) ( ADJP-PRD ( JJ willing ) ( CC and ) ( JJ able ) ( S ( VP ( TO to ) ( VP ( VB pick ) ( PRT ( RP up ) ) ( NP ( NP ( JJS most ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( NN cost ) ) ( PP ( IN of ) ( NP ( DT the ) ( NN coverage ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

More than half the people surveyed for the Employee Benefit Research Institute say they would be willing and able to pick up most of the cost of the coverage


( SINV-HLN ( S-TPC-1 ( NP-SBJ ( NP ( JJ FRINGE-BENEFIT ) ( NN spending ) ) ( PP ( IN by ) ( NP ( ADJP ( JJ small ) ( CC and ) ( JJ medium-sized ) ) ( NNS employers ) ) ) ) ( VP ( VBZ has ) ( VP ( VBN dropped ) ( PP-DIR ( TO to ) ( NP ( NP ( CD 25 ) ( NN % ) ) ( PP ( IN of ) ( NP ( NN payroll ) ) ) ) ) ( PP-DIR ( IN from ) ( NP ( CD 29 ) ( NN % ) ) ( ADVP-TMP ( NP ( CD three ) ( NNS years ) ) ( IN ago ) ) ) ) ) ) ( VP ( VBZ says ) ) ( NP-SBJ ( NP ( NP ( DT the ) ( NNP National ) ( NNP Institute ) ) ( PP ( IN of ) ( NP ( NNP Business ) ( NNP Management ) ) ) ) ( NP ( DT an ) ( JJ advisory ) ( NN service ) ) ) )

FRINGE-BENEFIT spending by small and medium-sized employers has dropped to 25 % of payroll from 29 % three years ago says the National Institute of Business Management an advisory service


( S-HLN ( S-TPC-2 ( NP-SBJ-1 ( NP ( VBN OUSTED ) ( NNPS EXECUTIVES ) ) ( ADJP ( NP ( QP ( IN over ) ( CD 50 ) ) ( NNS years ) ) ( JJ old ) ) ) ( VP ( VBP take ) ( NP ( NP ( ADJP ( RB slightly ) ( JJR less ) ) ( NN time ) ) ( PP ( IN than ) ( NP ( PRP$ their ) ( JJR younger ) ( NNS colleagues ) ) ) ) ( S-CLR ( VP ( TO to ) ( VP ( VB find ) ( NP ( DT a ) ( NN job ) ) ) ) ) ( NP-3 ( NP ( CD 3.23 ) ( NNS months ) ) ( PP ( CC vs. ) ( NP ( NP ( CD 3.26 ) ) ( PP ( IN for ) ( NP ( DT the ) ( NNS juniors ) ) ) ) ) ) ) ) ( NP-SBJ ( NP ( NN outplacement ) ( NN firm ) ) ( NP ( NNP Challenger ) ( NNP Gray ) ( CC & ) ( NNP Christmas ) ) ) ( VP ( VBZ finds ) ) )

OUSTED EXECUTIVES over 50 years old take slightly less time than their younger colleagues to find a job 3.23 months vs. 3.26 for the juniors outplacement firm Challenger Gray & Christmas finds


( S ( NP-SBJ ( PRP It ) ) ( VP ( VBZ 's ) ( NP-PRD ( NP ( DT the ) ( JJ first ) ( NN time ) ) ( PP-TMP ( IN in ) ( NP ( NP ( DT the ) ( NN survey ) ( POS 's ) ) ( CD 15 ) ( NNS years ) ) ) ( SBAR ( WHADVP-1 ( IN that ) ) ( S ( NP-SBJ ( DT the ) ( JJ over-50 ) ( NN group ) ) ( VP ( VBD came ) ( PRT ( RP out ) ) ( ADVP-PRD ( RB ahead ) ) ) ) ) ) ) )

It 's the first time in the survey 's 15 years that the over-50 group came out ahead


( S-HLN ( NP-SBJ ( NP ( NN FEAR ) ) ( PP ( IN OF ) ( NP ( NNP AIDS ) ) ) ) ( VP ( VBZ hinders ) ( NP ( VBG hiring ) ) ( PP-LOC ( IN at ) ( NP ( JJ few ) ( NNS hospitals ) ) ) ) )

FEAR OF AIDS hinders hiring at few hospitals


( S-HLN ( NP-SBJ ( NN Dedication ) ) ( VP ( VBZ runs ) ( S-ADV ( ADJP-PRD ( JJ high ) ) ) ) )

Dedication runs high


( S ( NP-SBJ ( NP ( NNP Wafaa ) ( NNP El-Sadr ) ) ( SBAR ( WHNP-1 ( WP who ) ) ( S ( VP ( VBZ heads ) ( NP ( NP ( DT the ) ( NNP AIDS ) ( NN program ) ) ( PP-LOC ( IN at ) ( NP ( NP ( NNP New ) ( NNP York ) ( NNP City ) ( POS 's ) ) ( NNP Harlem ) ( NNP Hospital ) ( NNP Center ) ) ) ) ) ) ) ) ( VP ( MD ca ) ( RB n't ) ( VP ( VB find ) ( NP ( NN help ) ) ) ) )

Wafaa El-Sadr who heads the AIDS program at New York City 's Harlem Hospital Center ca n't find help


( S ( S-TPC-3 ( NP-SBJ ( PRP I ) ) ( VP ( VBP 've ) ( VP ( VBN been ) ( VP ( VBG recruiting ) ( NP-TMP ( DT every ) ( JJ single ) ( NN day ) ) ( SBAR-TMP ( IN since ) ( S ( NP-SBJ-1 ( NP ( PRP it ) ) ) ( VP ( VBZ 's ) ( VP ( VBN been ) ( VP ( VBN identified ) ( SBAR-2 ( IN that ) ( S ( NP-SBJ ( JJ many ) ( NNP AIDS ) ( NNS patients ) ) ( VP ( VBD come ) ( PP-CLR ( IN from ) ( NP ( DT the ) ( JJ inner ) ( NN city ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ( NP-SBJ ( PRP she ) ) ( VP ( VBZ says ) ) )

I 've been recruiting every single day since it 's been identified that many AIDS patients come from the inner city she says


( S ( S ( NP-SBJ-1 ( PRP She ) ) ( VP ( VBD was ) ( NP-PRD ( NP ( DT the ) ( JJ only ) ( NN staff ) ( NN physician ) ) ( ADJP ( JJ available ) ( S ( VP ( TO to ) ( VP ( VB treat ) ( NP ( NNP AIDS ) ( NNS patients ) ) ( NP-TMP ( JJ last ) ( NN summer ) ) ) ) ) ) ) ) ) ( CC and ) ( S ( ADVP-TMP ( RB now ) ) ( NP-SBJ ( PRP she ) ) ( VP ( VBZ has ) ( NP ( NP ( DT the ) ( NN help ) ) ( PP ( IN of ) ( NP ( QP ( RB only ) ( CD two ) ) ( NNS doctors ) ) ) ( NP ( NN part ) ( NN time ) ) ) ) ) )

She was the only staff physician available to treat AIDS patients last summer and now she has the help of only two doctors part time


( S ( NP-SBJ ( NP ( NN Part ) ) ( PP ( IN of ) ( NP ( DT the ) ( NN problem ) ) ) ) ( ADVP ( RB though ) ) ( VP ( MD may ) ( VP ( VB reflect ) ( NP ( DT a ) ( JJ general ) ( NN unwillingness ) ( S ( VP ( TO to ) ( VP ( VB work ) ( PP-CLR ( IN with ) ( NP ( DT the ) ( JJ urban ) ( NN poor ) ) ) ) ) ) ) ) ) )

Part of the problem though may reflect a general unwillingness to work with the urban poor


( S ( NP-SBJ ( NP ( NNP Parkland ) ( NNP Memorial ) ( NNP Hospital ) ) ( PP-LOC ( IN in ) ( NP ( NNP Dallas ) ) ) ) ( VP ( VBZ says ) ( SBAR ( S ( NP-SBJ-1 ( PRP it ) ) ( VP ( VBZ has ) ( RB n't ) ( VP ( VBN had ) ( NP ( DT any ) ( NN problem ) ) ( S ( VP ( VBG recruiting ) ) ) ( SBAR-TMP ( RB even ) ( IN after ) ( S ( NP-SBJ-2 ( DT a ) ( NN nurse ) ) ( VP ( VBD contracted ) ( NP ( DT the ) ( NN virus ) ) ( SBAR-TMP ( IN while ) ( S ( VP ( VBG injecting ) ( NP ( DT an ) ( NNP AIDS ) ( NN patient ) ) ) ) ) ) ) ) ) ) ) ) ) )

Parkland Memorial Hospital in Dallas says it has n't had any problem recruiting even after a nurse contracted the virus while injecting an AIDS patient


( S ( NP-SBJ ( PRP I ) ) ( VP ( MD can ) ( VP ( VB tell ) ( NP ( PRP you ) ) ( SBAR ( IN that ) ( S ( NP-SBJ ( NN nobody ) ) ( VP ( VBD quit ) ( PP-CLR ( IN over ) ( NP ( PRP it ) ) ) ) ) ) ) ) )

I can tell you that nobody quit over it


( S ( S-TPC-1 ( NP-SBJ ( DT No ) ( NN one ) ) ( VP ( VBD panicked ) ) ) ( NP-SBJ ( DT a ) ( NN spokeswoman ) ) ( VP ( VBZ says ) ) )

No one panicked a spokeswoman says


( S ( NP-SBJ ( NP ( NNP St. ) ( NNP Paul ) ( NNP Medical ) ( NNP Center ) ) ( RRC ( ADVP ( RB also ) ) ( PP-LOC ( IN in ) ( NP ( NNP Dallas ) ) ) ) ) ( VP ( VBZ sees ) ( NP ( NP ( RB only ) ( DT a ) ( JJ minimal ) ( NN erosion ) ) ( PP ( IN of ) ( NP ( NN support ) ( NN staff ) ) ) ( ADJP ( JJ due ) ( PP ( TO to ) ( NP ( NNP AIDS ) ) ) ) ) ) )

St. Paul Medical Center also in Dallas sees only a minimal erosion of support staff due to AIDS


( SINV ( S-TPC-1 ( NP-SBJ ( NNP Yale-New ) ( NNP Haven ) ( NNP Hospital ) ) ( VP ( VBZ sees ) ( NP ( DT no ) ( NN problem ) ) ) ) ( VP ( VBZ says ) ) ( NP-SBJ ( NP ( NNP John ) ( NNP Fenn ) ) ( NP ( NP ( DT the ) ( NN chief ) ) ( PP ( IN of ) ( NP ( NN staff ) ) ) ) ) )

Yale-New Haven Hospital sees no problem says John Fenn the chief of staff


( S ( S-TPC-2 ( NP-SBJ ( EX There ) ) ( VP ( VBP are ) ( NP-PRD ( NP ( RB enough ) ( ADJP ( VBN enlightened ) ( CC and ) ( VBN spirited ) ) ( NNS individuals ) ) ( SBAR ( WHNP-1 ( WP who ) ) ( S ( VP ( VBP know ) ( NP ( PRP$ their ) ( NNS responsibilities ) ) ) ) ) ) ) ) ( NP-SBJ ( PRP he ) ) ( VP ( VBZ says ) ) )

There are enough enlightened and spirited individuals who know their responsibilities he says


( FRAG-HLN ( NP ( DT THE ) ( NNP CHECKOFF ) ) ( S ( PP ( IN At ) ( ADJP ( JJS least ) ) ) ( NP-SBJ ( NN somebody ) ) ( VP ( VBZ gains ) ( PP-CLR ( IN on ) ( NP ( NNS layoffs ) ) ) ) ) )

THE CHECKOFF At least somebody gains on layoffs


( S ( NP-SBJ ( NP ( DT The ) ( NNP Association ) ) ( PP ( IN of ) ( NP ( NNP Outplacement ) ( NNP Consulting ) ( NNPS Firms ) ) ) ) ( VP ( VBZ says ) ( SBAR ( S ( NP-SBJ ( NP ( DT the ) ( NN industry ) ( POS 's ) ) ( NN volume ) ) ( VP ( VBZ has ) ( VP ( VBN soared ) ( ADVP-EXT ( RB tenfold ) ) ( PP-TMP ( IN since ) ( NP ( CD 1980 ) ) ) ( PP-DIR ( TO to ) ( NP ( NP ( QP ( CD 350 ) ( CD million ) ) ) ( NP-ADV ( DT a ) ( NN year ) ) ) ) ) ) ) ) ) )

The Association of Outplacement Consulting Firms says the industry 's volume has soared tenfold since 1980 to 350 million a year


( S ( CC And ) ( NP-SBJ ( NN somebody ) ) ( VP ( VBZ loses ) ( PP-CLR ( IN on ) ( NP ( NP ( DT the ) ( VBN expected ) ( NN repeal ) ) ( PP ( IN of ) ( NP ( NP ( NN Section ) ( CD 89 ) ) ( NP ( NP ( DT the ) ( NNS benefits ) ( NN test ) ) ( VP ( VBN fought ) ( PP ( IN by ) ( NP-LGS ( JJS most ) ( NNS employers ) ) ) ) ) ) ) ) ) ) )

And somebody loses on the expected repeal of Section 89 the benefits test fought by most employers


( S ( NP-SBJ ( NNP Triad ) ( NNPS Solutions ) ) ( VP ( VBZ says ) ( SBAR ( S ( NP-SBJ ( NN software ) ( NNS producers ) ) ( VP ( VBD had ) ( NP-ADV ( DT each ) ) ( VP ( VBN invested ) ( NP ( NP ( NNS hundreds ) ) ( PP ( IN of ) ( NP ( NP ( NNS thousands ) ) ( PP ( IN of ) ( NP ( NNS dollars ) ) ) ) ) ) ( PP-CLR ( IN in ) ( NP ( NP ( NNS programs ) ) ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( ADVP-TMP ( RB now ) ) ( VP ( VBP have ) ( NP ( DT no ) ( NN use ) ) ) ) ) ) ) ) ) ) ) ) )

Triad Solutions says software producers had each invested hundreds of thousands of dollars in programs that now have no use


( S ( NP-SBJ ( NNP International ) ( NNP Business ) ( NNPS Machines ) ( NNP Corp. ) ) ( VP ( VBD unveiled ) ( NP ( NP ( DT a ) ( JJ broad ) ( NN strategy ) ) ( SBAR ( S ( VP ( TO to ) ( VP ( VB tackle ) ( NP ( NP ( NP ( DT the ) ( JJS biggest ) ( NN problem ) ) ( SBAR ( WHNP-1 ( IN that ) ) ( S ( NP-SBJ ( NNS manufacturers ) ) ( VP ( VBP face ) ( SBAR-TMP ( WHADVP-3 ( WRB when ) ) ( S ( VP ( VBG computerizing ) ( NP ( PRP$ their ) ( NNS operations ) ) ) ) ) ) ) ) ) ( S ( NP-SBJ ( JJS Most ) ( NNS machines ) ) ( VP ( MD ca ) ( RB n't ) ( VP ( VB talk ) ( PP-CLR ( TO to ) ( NP ( DT each ) ( JJ other ) ) ) ) ) ) ) ) ) ) ) ) ) )

International Business Machines Corp. unveiled a broad strategy to tackle the biggest problem that manufacturers face when computerizing their operations Most machines ca n't talk to each other


( S ( NP-SBJ ( DT The ) ( NN company ) ) ( VP ( VBD unveiled ) ( NP ( NP ( QP ( JJR more ) ( IN than ) ( CD 50 ) ) ( NNS products ) ) ( NP ( RB mostly ) ( NN software ) ) ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( VP ( VBP are ) ( VP ( VBN designed ) ( S ( VP ( TO to ) ( VP ( VB integrate ) ( NP ( NP ( NP ( DT the ) ( CD three ) ( NNS areas ) ) ( PP ( IN of ) ( NP ( DT a ) ( NN manufacturing ) ( NN operation ) ) ) ) ( NP ( NP ( DT the ) ( NN plant ) ( NN floor ) ) ( NP ( NN design ) ( NNS operations ) ) ( CC and ) ( NP ( NN production ) ( NN planning ) ) ) ) ) ) ) ) ) ) ) ) ) )

The company unveiled more than 50 products mostly software that are designed to integrate the three areas of a manufacturing operation the plant floor design operations and production planning


( S ( NP-SBJ ( DT The ) ( NN aim ) ) ( ADVP ( RB ultimately ) ) ( VP ( VBZ is ) ( S-PRD ( VP ( TO to ) ( VP ( VB increase ) ( NP ( NP ( DT the ) ( NN flow ) ) ( PP ( IN of ) ( NP ( NN information ) ) ) ( PP ( IN into ) ( NP ( NP ( DT a ) ( NN manufacturer ) ( POS 's ) ) ( JJ main ) ( NN computer ) ( NN network ) ) ) ( PP ( IN for ) ( NP ( NP ( NN use ) ) ( PP-LOC ( IN in ) ( NP ( NP ( NN business ) ( NN planning ) ) ( NP ( NN marketing ) ) ( CC and ) ( NP ( JJ other ) ( NNS operations ) ) ) ) ) ) ) ) ) ) ) )

The aim ultimately is to increase the flow of information into a manufacturer 's main computer network for use in business planning marketing and other operations


( S ( NP-SBJ ( NNS Manufacturers ) ) ( VP ( VBP have ) ( ADVP ( RB already ) ) ( VP ( VBN spent ) ( ADVP ( ADVP ( RB so ) ( RB heavily ) ( PP ( IN on ) ( NP ( NN automation ) ) ) ) ( SBAR ( IN that ) ( S ( NP-SBJ ( PRP they ) ) ( VP ( VBP are ) ( NP-PRD ( NP ( CD one ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( NN computer ) ( NN industry ) ( POS 's ) ) ( VBG leading ) ( NN revenue ) ( NNS sources ) ) ) ) ) ) ) ) ) ) )

Manufacturers have already spent so heavily on automation that they are one of the computer industry 's leading revenue sources


( S ( CC But ) ( NP-SBJ ( JJ many ) ( NNS manufacturers ) ) ( VP ( VBP find ) ( SBAR ( DT that ) ( S ( NP-SBJ-1 ( NP ( NN communication ) ) ( PP ( IN between ) ( NP ( JJ different ) ( NNS computers ) ) ) ) ( VP ( VBZ has ) ( VP ( VBN been ) ( VP ( VBN rendered ) ( S ( ADJP-PRD ( RB nearly ) ( JJ impossible ) ) ) ( PP ( IN by ) ( NP-LGS ( NP ( DT the ) ( NN babel ) ) ( PP ( IN of ) ( NP ( NP ( NN computer ) ( NNS languages ) ) ( VP ( VBN used ) ( PP ( IN by ) ( NP-LGS ( NP ( JJ different ) ( NNS machines ) ) ( PP ( VBG including ) ( NP ( NP ( NNS robots ) ) ( CC and ) ( NP ( NN machine ) ( NNS tools ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

But many manufacturers find that communication between different computers has been rendered nearly impossible by the babel of computer languages used by different machines including robots and machine tools


( S ( NP-SBJ ( NP ( NP ( NNP IBM ) ( POS 's ) ) ( NN announcement ) ) ( SBAR ( WHNP-1 ( WDT which ) ) ( S ( VP ( VP ( VBD was ) ( VP ( VBN expected ) ) ) ( CC and ) ( VP ( MD will ) ( ADVP-MNR ( RB formally ) ) ( VP ( VB be ) ( VP ( VBN made ) ( PP ( TO to ) ( NP ( NNS customers ) ) ) ( NP-TMP ( NN today ) ) ) ) ) ) ) ) ) ( ADVP ( RB also ) ) ( VP ( VBZ marks ) ( NP ( DT an ) ( NN attempt ) ( S ( VP ( TO to ) ( VP ( VB gain ) ( NP ( NP ( NN credibility ) ) ( PP-LOC ( IN on ) ( NP ( NP ( DT the ) ( NN plant ) ( NN floor ) ) ( SBAR ( SBAR ( WHADVP-3 ( WRB where ) ) ( S ( NP-SBJ ( NNP Digital ) ( NNP Equipment ) ( NNP Corp. ) ) ( VP ( VBZ has ) ( ADVP ( RB long ) ) ( VP ( VBN dominated ) ) ) ) ) ( CC and ) ( SBAR ( WHADVP-4 ( WRB where ) ) ( S ( NP-SBJ ( NNP Hewlett-Packard ) ( NNP Co. ) ) ( VP ( VBZ has ) ( ADVP-TMP ( RB recently ) ) ( VP ( VBN gained ) ( NP ( NN market ) ( NN share ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

IBM 's announcement which was expected and will formally be made to customers today also marks an attempt to gain credibility on the plant floor where Digital Equipment Corp. has long dominated and where Hewlett-Packard Co. has recently gained market share


( S ( NP-SBJ ( NNS Consultants ) ) ( VP ( VBP have ) ( VP ( VBN said ) ( SBAR ( IN that ) ( S ( NP-SBJ ( NP ( PRP it ) ) ) ( VP ( MD will ) ( VP ( VB take ) ( NP ( DT a ) ( NN while ) ) ( SBAR-1 ( IN for ) ( S ( NP-SBJ ( NP ( PDT all ) ( DT the ) ( NNS pieces ) ) ( PP ( IN of ) ( NP ( DT the ) ( NNP IBM ) ( NN strategy ) ) ) ) ( VP ( TO to ) ( VP ( VB fall ) ( PP-CLR ( IN into ) ( NP ( NN place ) ) ) ) ) ) ) ( SBAR-ADV ( RB even ) ( IN though ) ( S ( NP-SBJ ( NP ( DT the ) ( JJ specific ) ( NNS products ) ) ( SBAR ( S ( NP-SBJ ( NNP IBM ) ) ( VP ( VBD unveiled ) ) ) ) ) ( VP ( MD will ) ( ADVP ( RB generally ) ) ( VP ( VB be ) ( ADJP-PRD ( JJ available ) ) ( PP-TMP ( IN by ) ( NP ( NP ( DT the ) ( NN end ) ) ( PP ( IN of ) ( NP ( DT the ) ( JJ first ) ( NN quarter ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Consultants have said that it will take a while for all the pieces of the IBM strategy to fall into place even though the specific products IBM unveiled will generally be available by the end of the first quarter


( S ( NP-SBJ ( NP ( NNP Sam ) ( NNP Albert ) ) ( NP ( NP ( DT a ) ( NN consultant ) ) ( PP-LOC ( IN in ) ( NP ( NP ( NNP Scarsdale ) ) ( NP ( NNP N.Y. ) ) ) ) ) ) ( VP ( VBD said ) ( SBAR ( IN that ) ( S ( PP-TMP ( IN in ) ( NP ( DT the ) ( NN past ) ) ) ( NP-SBJ ( NNP IBM ) ) ( VP ( VBZ has ) ( VP ( VBN developed ) ( NP ( JJ broad ) ( NN software ) ( NNS strategies ) ) ( PP-PRP ( RB only ) ( IN for ) ( NP ( NP ( NNS problems ) ) ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( VP ( VBD crossed ) ( NP ( NN industry ) ( NNS lines ) ) ) ) ) ) ) ) ) ) ) ) )

Sam Albert a consultant in Scarsdale N.Y. said that in the past IBM has developed broad software strategies only for problems that crossed industry lines


( S ( NP-SBJ ( PRP He ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( PRP he ) ) ( VP ( VBZ believes ) ( SBAR ( S ( NP-SBJ ( NP ( NNP IBM ) ( POS 's ) ) ( NN decision ) ( S ( VP ( TO to ) ( VP ( VB invest ) ( NP ( NP ( DT this ) ( NN sort ) ) ( PP ( IN of ) ( NP ( NN effort ) ) ) ) ( PP-CLR ( IN into ) ( NP ( DT a ) ( JJ single ) ( NN industry ) ) ) ) ) ) ) ( VP ( VBD showed ) ( SBAR ( IN that ) ( S ( NP-SBJ ( PRP it ) ) ( VP ( VP ( VBD was ) ( VP ( VBG getting ) ( ADJP-PRD ( JJ serious ) ( PP ( IN about ) ( S-NOM ( VP ( VBG understanding ) ( NP ( NP ( NNS customers ) ( POS ' ) ) ( NNS problems ) ) ) ) ) ) ) ) ( CC and ) ( VP ( VBD was ) ( RB n't ) ( VP ( ADVP ( RB just ) ) ( VBG selling ) ( NP ( NN technology ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

He said he believes IBM 's decision to invest this sort of effort into a single industry showed that it was getting serious about understanding customers ' problems and was n't just selling technology


( S ( NP-SBJ ( PRP He ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( PRP he ) ) ( VP ( VBZ expects ) ( S ( NP-SBJ ( NNP IBM ) ) ( VP ( TO to ) ( VP ( VB unveil ) ( NP ( NP ( JJ similar ) ( NNS strategies ) ) ( PP ( IN for ) ( NP ( JJ other ) ( NNS industries ) ) ) ) ( PP-TMP ( IN in ) ( NP ( VBG coming ) ( NNS months ) ) ) ) ) ) ) ) ) ) )

He said he expects IBM to unveil similar strategies for other industries in coming months


( S ( NP-SBJ ( NP ( NNP IBM ) ( POS 's ) ) ( NN push ) ) ( VP ( VBZ is ) ( ADVP ( RB also ) ) ( ADJP-PRD ( JJ unusual ) ) ( PP ( IN in ) ( NP ( NP ( PRP$ its ) ( NN approach ) ) ( PP ( TO to ) ( NP ( NN marketing ) ) ) ) ) ) )

IBM 's push is also unusual in its approach to marketing


( S ( PP ( RB Rather ) ( IN than ) ( S-NOM ( VP ( ADVP ( RB just ) ) ( VB send ) ( PRT ( RP out ) ) ( NP ( NN marketing ) ( NNS people ) ) ( S-PRP ( VP ( TO to ) ( VP ( VB knock ) ( PP-CLR ( IN on ) ( NP ( NP ( NNS customers ) ( POS ' ) ) ( NNS doors ) ) ) ) ) ) ) ) ) ( NP-SBJ ( NNP IBM ) ) ( VP ( VBZ is ) ( VP ( VBG making ) ( S ( NP-SBJ-2 ( NP ( QP ( JJ several ) ( CD hundred ) ) ) ( PP ( IN of ) ( NP ( PRP$ its ) ( JJ own ) ( VBG manufacturing ) ( NNS people ) ) ) ) ( ADJP-PRD ( JJ available ) ( S ( VP ( TO to ) ( VP ( VB discuss ) ( NP ( JJ specific ) ( NNS needs ) ) ) ) ) ) ) ) ) )

Rather than just send out marketing people to knock on customers ' doors IBM is making several hundred of its own manufacturing people available to discuss specific needs


( S ( NP-SBJ-2 ( NP ( NNP IBM ) ( POS 's ) ) ( VBG manufacturing ) ( NN staff ) ) ( ADVP ( RB also ) ) ( VP ( VP ( MD will ) ( VP ( VB be ) ( ADJP-PRD ( JJ able ) ( S ( VP ( TO to ) ( VP ( VB provide ) ( NP ( NP ( NN software ) ) ( SBAR ( WHNP-1 ( IN that ) ) ( S ( NP-SBJ ( NNP IBM ) ) ( VP ( VBZ has ) ( VP ( VBN developed ) ( ADVP-LOC ( RB internally ) ) ) ) ) ) ) ) ) ) ) ) ) ( CC and ) ( VP ( MD will ) ( VP ( VB be ) ( ADJP-PRD ( JJ able ) ( S ( VP ( TO to ) ( VP ( VB form ) ( NP ( NP ( NNS teams ) ) ( PP ( IN with ) ( NP ( DT a ) ( NN customer ) ) ) ( SBAR-PRP ( S ( VP ( TO to ) ( VP ( ADVP-MNR ( RB jointly ) ) ( VB solve ) ( NP ( NN manufacturing ) ( NNS problems ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

IBM 's manufacturing staff also will be able to provide software that IBM has developed internally and will be able to form teams with a customer to jointly solve manufacturing problems


( S ( S ( NP-SBJ ( NNP IBM ) ) ( VP ( MD can ) ( ADVP ( RB obviously ) ) ( VP ( VB bring ) ( S ( NP-SBJ ( PRP$ its ) ( NN expertise ) ) ( VP ( TO to ) ( VP ( VB bear ) ( PP-CLR ( IN on ) ( NP ( NP ( NNS problems ) ) ( VP ( VBN related ) ( PP-CLR ( TO to ) ( NP ( NN computer ) ( NN manufacturing ) ) ) ) ) ) ) ) ) ) ) ) ( CC but ) ( S ( NP-SBJ ( PRP it ) ) ( VP ( MD could ) ( ADVP ( RB also ) ) ( VP ( VB help ) ( NP ( NNS customers ) ) ( PP-CLR ( IN on ) ( NP ( NP ( NN software ) ) ( SBAR ( S ( VP ( TO to ) ( VP ( VB deal ) ( PP-CLR ( IN with ) ( NP ( NP ( JJ such ) ( NNS things ) ) ( PP ( IN as ) ( NP ( NP ( NNS changes ) ) ( PP-LOC ( IN in ) ( NP ( VBG engineering ) ( NNS documents ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

IBM can obviously bring its expertise to bear on problems related to computer manufacturing but it could also help customers on software to deal with such things as changes in engineering documents


( SINV ( S-TPC-1 ( S ( NP-SBJ ( PRP We ) ) ( VP ( MD may ) ( RB not ) ( VP ( VB have ) ( NP ( DT every ) ( NN manufacturing ) ( NN problem ) ) ) ) ) ( CC but ) ( S ( NP-SBJ ( PRP we ) ) ( VP ( VBP have ) ( NP ( JJS most ) ) ) ) ) ( VP ( VBD said ) ) ( NP-SBJ ( NP ( NNP George ) ( NNP Conrades ) ) ( NP ( NP ( NNP IBM ) ( POS 's ) ) ( JJ top ) ( NN marketing ) ( NN official ) ) ) )

We may not have every manufacturing problem but we have most said George Conrades IBM 's top marketing official


( S ( NP-SBJ-1 ( NP ( NP ( NNP John ) ( NNP V. ) ( NNP Holmes ) ) ( NP ( DT an ) ( NN investment-newsletter ) ( NN publisher ) ) ) ( CC and ) ( NP ( NP ( CD three ) ( NN venture-capital ) ( NNS firms ) ) ( SBAR ( S ( NP-SBJ ( PRP he ) ) ( VP ( VBD organized ) ) ) ) ) ) ( VP ( VBD were ) ( VP ( VBN enjoined ) ( PP-CLR ( IN from ) ( S-NOM ( VP ( VBG violating ) ( NP ( NP ( DT the ) ( NN registration ) ( NNS provisions ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( NNS securities ) ( NNS laws ) ) ( VP ( VBG governing ) ( NP ( NN investment ) ( NNS companies ) ) ) ) ) ) ) ) ) ) ) )

John V. Holmes an investment-newsletter publisher and three venture-capital firms he organized were enjoined from violating the registration provisions of the securities laws governing investment companies


( S ( PP ( IN As ) ( NP ( NP ( NN part ) ) ( PP ( IN of ) ( NP ( NP ( DT an ) ( NN agreement ) ) ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( VP ( VBD settled ) ( NP ( NP ( NNS charges ) ) ( VP ( VBN brought ) ( PP ( IN by ) ( NP-LGS ( DT the ) ( NNPS Securities ) ( CC and ) ( NNP Exchange ) ( NNP Commission ) ) ) ) ) ) ) ) ) ) ) ) ( NP-SBJ-2 ( DT a ) ( NN receiver ) ) ( VP ( VBD was ) ( ADVP ( RB also ) ) ( VP ( VBN appointed ) ( PP ( IN for ) ( NP ( DT the ) ( CD three ) ( NN venture-capital ) ( NNS firms ) ) ) ) ) )

As part of an agreement that settled charges brought by the Securities and Exchange Commission a receiver was also appointed for the three venture-capital firms


( S ( NP-SBJ ( NNP Mr. ) ( NNP Holmes ) ) ( VP ( VBD was ) ( NP-PRD ( NP ( DT the ) ( NN subject ) ) ( PP ( IN of ) ( NP ( NP ( DT a ) ( NN page ) ( CD one ) ( NN profile ) ) ( PP-LOC ( IN in ) ( NP ( DT The ) ( NNP Wall ) ( NNP Street ) ( NNP Journal ) ) ) ) ) ) ( PP-TMP ( IN in ) ( NP ( CD 1984 ) ) ) ( SBAR-TMP ( IN after ) ( S ( NP-SBJ ( DT the ) ( NNP SEC ) ) ( VP ( VBD questioned ) ( NP ( PRP him ) ) ( PP-CLR ( IN about ) ( NP ( NP ( NNS ties ) ) ( PP ( IN between ) ( NP ( NP ( PRP him ) ) ( CC and ) ( NP ( NP ( NNS companies ) ) ( SBAR ( S ( NP-SBJ ( PRP he ) ) ( VP ( VBD touted ) ( PP-LOC ( IN in ) ( NP ( DT a ) ( NN newsletter ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Mr. Holmes was the subject of a page one profile in The Wall Street Journal in 1984 after the SEC questioned him about ties between him and companies he touted in a newsletter


( S ( PP-TMP ( IN In ) ( NP ( CD 1986 ) ) ) ( PP-LOC ( IN in ) ( NP ( NP ( DT another ) ( NN consent ) ( NN agreement ) ) ( PP ( IN with ) ( NP ( DT the ) ( NNP SEC ) ) ) ) ) ( NP-SBJ-1 ( NNP Mr. ) ( NNP Holmes ) ) ( VP ( VBD was ) ( VP ( VBN enjoined ) ( PP-CLR ( IN from ) ( S-NOM ( VP ( VBG violating ) ( NP ( NP ( DT the ) ( ADJP ( NN stock-registration ) ( CC and ) ( JJ anti-fraud ) ) ( NNS provisions ) ) ( PP ( IN of ) ( NP ( DT the ) ( NNS securities ) ( NNS laws ) ) ) ) ) ) ) ) ) )

In 1986 in another consent agreement with the SEC Mr. Holmes was enjoined from violating the stock-registration and anti-fraud provisions of the securities laws


( S ( PP ( IN Without ) ( NP ( NP ( DT any ) ( NN admission ) ( CC or ) ( NN denial ) ) ( PP ( IN of ) ( NP ( NN guilt ) ) ) ( PP ( IN by ) ( NP ( NNP Mr. ) ( NNP Holmes ) ) ) ) ) ( NP-SBJ ( DT that ) ( NN agreement ) ) ( VP ( VBD settled ) ( NP ( NNP SEC ) ( NNS charges ) ( SBAR ( IN that ) ( S ( NP-SBJ ( NNP Mr. ) ( NNP Holmes ) ) ( VP ( VP ( VBD sold ) ( NP ( JJ unregistered ) ( NNS securities ) ) ) ( CC and ) ( VP ( VBD misled ) ( NP ( NNS investors ) ) ) ) ) ) ) ) )

Without any admission or denial of guilt by Mr. Holmes that agreement settled SEC charges that Mr. Holmes sold unregistered securities and misled investors


( S ( PP-LOC ( IN In ) ( NP ( NP ( NNS charges ) ) ( VP ( VBN filed ) ( NP-TMP ( JJ last ) ( NN week ) ) ( PP-LOC ( IN in ) ( NP ( NP ( JJ federal ) ( NN district ) ( NN court ) ) ( PP-LOC ( IN in ) ( NP ( NP ( NNP Charlotte ) ) ( NP ( NNP N.C. ) ) ) ) ) ) ) ) ) ( NP-SBJ ( DT the ) ( NNP SEC ) ) ( VP ( VBD alleged ) ( SBAR ( IN that ) ( S ( NP-SBJ-1 ( NP ( NP ( NNP Venture ) ( NNPS Capitalists ) ( NNP Inc. ) ) ( NP ( NNP Venture ) ( NNP Finance ) ( NNP Corp. ) ) ( CC and ) ( NP ( NNP New ) ( NNPS Ventures ) ( NNP Fund ) ( NNP Inc. ) ) ) ( NP ( NP ( DT all ) ) ( PP ( IN of ) ( NP ( NNP Charlotte ) ) ) ) ) ( VP ( VBD failed ) ( ADVP ( RB repeatedly ) ) ( S ( VP ( TO to ) ( VP ( VB file ) ( NP ( JJ proper ) ( NNS documents ) ) ) ) ) ) ) ) ) )

In charges filed last week in federal district court in Charlotte N.C. the SEC alleged that Venture Capitalists Inc. Venture Finance Corp. and New Ventures Fund Inc. all of Charlotte failed repeatedly to file proper documents


( S ( NP-SBJ ( DT The ) ( NNP SEC ) ) ( ADVP ( RB also ) ) ( VP ( VBD charged ) ( SBAR ( IN that ) ( S ( NP-SBJ ( NNP Mr. ) ( NNP Holmes ) ) ( VP ( VBD acted ) ( PP-CLR ( IN as ) ( NP ( NP ( DT an ) ( NN officer ) ( CC or ) ( NN director ) ) ( PP ( IN of ) ( NP ( NNP New ) ( NNP Ventures ) ) ) ) ) ( PP ( IN in ) ( NP ( NP ( NN violation ) ) ( PP ( IN of ) ( NP ( PRP$ his ) ( JJ previous ) ( NN consent ) ( NN agreement ) ) ) ) ) ) ) ) ) )

The SEC also charged that Mr. Holmes acted as an officer or director of New Ventures in violation of his previous consent agreement


( S ( S-TPC-2 ( NP-SBJ ( DT Some ) ( NNS companies ) ) ( VP ( VBD were ) ( ADJP-PRD ( JJ delinquent ) ) ( PP ( IN in ) ( NP ( NP ( NP ( NNS filings ) ) ( CC and ) ( NP ( JJ other ) ( NNS actions ) ) ) ( SBAR ( WHNP-1 ( NP ( DT all ) ) ( WHPP ( IN of ) ( WHNP ( WDT which ) ) ) ) ( S ( VP ( VBP cost ) ( NP ( NN money ) ) ) ) ) ) ) ) ) ( NP-SBJ ( NNP Mr. ) ( NNP Holmes ) ) ( VP ( VBD said ) ) )

Some companies were delinquent in filings and other actions all of which cost money Mr. Holmes said


( S ( NP-SBJ ( NP ( NP ( CD Two ) ) ( PP ( IN of ) ( NP ( NP ( NNP Mr. ) ( NNP Holmes ) ( POS 's ) ) ( NN business ) ( NNS associates ) ) ) ( SBAR ( WHNP-2 ( WP who ) ) ( S ( VP ( VBD worked ) ( PP-CLR ( IN for ) ( NP ( NNP Venture ) ( NNPS Capitalists ) ) ) ) ) ) ) ( NP ( NP ( NNP Kimberly ) ( NNP Ann ) ( NNP Smith ) ) ( CC and ) ( NP ( NNP Frederick ) ( NNP Byrum ) ) ) ) ( ADVP ( RB also ) ) ( VP ( VBD consented ) ( S ( VP ( TO to ) ( VP ( VBG being ) ( VP ( VBN enjoined ) ( PP-CLR ( IN from ) ( NP ( NP ( NNS violations ) ) ( PP ( IN of ) ( NP ( NP ( NN registration ) ( NNS provisions ) ) ( PP ( IN of ) ( NP ( DT the ) ( NNS securities ) ( NNS laws ) ) ) ) ) ) ) ) ) ) ) ) )

Two of Mr. Holmes 's business associates who worked for Venture Capitalists Kimberly Ann Smith and Frederick Byrum also consented to being enjoined from violations of registration provisions of the securities laws


( S ( NP-SBJ ( NNP Ms. ) ( NNP Smith ) ) ( ADVP ( RB also ) ) ( VP ( VBD agreed ) ( PP-CLR ( TO to ) ( NP ( NP ( DT a ) ( JJ permanent ) ( NN injunction ) ) ( VP ( VBG barring ) ( NP-1 ( PRP her ) ) ( PP-CLR ( IN from ) ( S-NOM ( VP ( VBG acting ) ( PP-CLR ( IN as ) ( NP ( NP ( DT an ) ( NX ( NX ( NN officer ) ) ( NX ( NN director ) ) ( CC or ) ( NX ( NN investment ) ( NN adviser ) ) ) ) ( PP ( IN of ) ( NP ( DT any ) ( NX ( NX ( JJ mutual ) ( NN fund ) ) ( NX ( NN unit ) ( NN investment ) ( NN trust ) ) ( CC or ) ( NX ( JJ face-amount ) ( NN certificate ) ( NN company ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Ms. Smith also agreed to a permanent injunction barring her from acting as an officer director or investment adviser of any mutual fund unit investment trust or face-amount certificate company


( S ( NP-SBJ-1 ( NP ( NNP Mr. ) ( NNP Byrum ) ) ( CC and ) ( NP ( NNP Ms. ) ( NNP Smith ) ) ) ( VP ( MD could ) ( RB n't ) ( VP ( VB be ) ( VP ( VBN reached ) ( PP ( IN for ) ( NP ( NN comment ) ) ) ) ) ) )

Mr. Byrum and Ms. Smith could n't be reached for comment


( S ( PP ( IN In ) ( S-NOM ( VP ( VBG consenting ) ( PP-CLR ( TO to ) ( NP ( DT the ) ( NNS injunctions ) ) ) ) ) ) ( NP-SBJ-1 ( NP ( NN none ) ) ( PP ( IN of ) ( NP ( DT the ) ( NNS individuals ) ( CC or ) ( NNS companies ) ) ) ) ( VP ( VBD admitted ) ( CC or ) ( VBD denied ) ( NP ( DT the ) ( NNS allegations ) ) ) )

In consenting to the injunctions none of the individuals or companies admitted or denied the allegations


( S ( NP-SBJ-1 ( NNP Granges ) ( NNP Inc. ) ) ( S-ADV ( VP ( VBG citing ) ( NP ( JJ depressed ) ( NN gold ) ( NNS prices ) ) ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ-2 ( PRP it ) ) ( VP ( VBZ plans ) ( S ( VP ( TO to ) ( VP ( VB suspend ) ( NP ( NNS operations ) ) ( PP-TMP ( IN for ) ( NP ( DT an ) ( JJ indefinite ) ( NN period ) ) ) ( PP-LOC ( IN at ) ( NP ( NP ( PRP$ its ) ( NNP Tartan ) ( NN gold ) ( NN mine ) ) ( PP-LOC ( IN in ) ( NP ( NNP Manitoba ) ) ) ) ) ) ) ) ) ) ) ) )

Granges Inc. citing depressed gold prices said it plans to suspend operations for an indefinite period at its Tartan gold mine in Manitoba


( S ( NP-SBJ ( NNS Granges ) ) ( VP ( VBD said ) ( PP-LOC ( IN in ) ( NP ( NP ( NNP Vancouver ) ) ( NP ( NNP British ) ( NNP Columbia ) ) ) ) ( SBAR ( IN that ) ( S ( NP-SBJ-1 ( DT the ) ( NN production ) ( NN halt ) ) ( VP ( MD will ) ( VP ( VB be ) ( VP ( VBN phased ) ( ADVP-CLR ( RB in ) ) ( PP-TMP ( IN over ) ( NP ( DT a ) ( JJ 10-week ) ( NN period ) ) ) ) ) ) ) ) ) )

Granges said in Vancouver British Columbia that the production halt will be phased in over a 10-week period


( S ( NP-SBJ ( NNP Tartan ) ) ( ADVP-TMP ( RB currently ) ) ( VP ( VBZ produces ) ( NP ( NN gold ) ) ( PP ( IN at ) ( NP ( NP ( DT a ) ( NN cash ) ( NN operating ) ( NN cost ) ) ( PP ( IN of ) ( NP ( NP ( NP ( CD 393 ) ) ( NP-ADV ( DT an ) ( NN ounce ) ) ) ( SBAR ( WHNP-1 ( WDT which ) ) ( S ( VP ( VP ( VBZ is ) ( ADJP-PRD-2 ( JJ high ) ) ( PP ( IN by ) ( NP ( NN industry ) ( NNS standards ) ) ) ) ( CC and ) ( VP ( PP-PRD=2 ( NP ( CD 25 ) ( QP ( CC or ) ( RB so ) ) ) ( IN above ) ( NP ( DT the ) ( JJ current ) ( NN spot ) ( NN price ) ) ) ) ) ) ) ) ) ) ) ) )

Tartan currently produces gold at a cash operating cost of 393 an ounce which is high by industry standards and 25 or so above the current spot price


( S ( NP-SBJ ( NNP Granges ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ-1 ( PRP it ) ) ( ADVP ( RB also ) ) ( VP ( VBZ plans ) ( S ( PP-TMP ( IN in ) ( NP ( DT the ) ( JJ third ) ( NN quarter ) ) ) ( VP ( VP ( TO to ) ( VP ( VB write ) ( PRT ( RP down ) ) ( NP ( NP ( DT the ) ( NN carrying ) ( NN value ) ) ( PP ( IN of ) ( NP ( DT the ) ( NNP Tartan ) ( NN mine ) ) ) ) ( PP-EXT ( IN by ) ( NP ( NP ( QP ( CD 2.5 ) ( CD million ) ) ( JJ Canadian ) ( NNS dollars ) ) ( PRN ( NP ( QP ( CD 2.12 ) ( CD million ) ) ) ) ) ) ) ) ( CC and ) ( VP ( TO to ) ( VP ( VB write ) ( PRT ( RP off ) ) ( NP ( NP ( JJS most ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( ADJP ( QP ( CD 6.3 ) ( CD million ) ) ) ( NN carrying ) ( NN value ) ) ( PP ( IN of ) ( NP ( NP ( PRP$ its ) ( NNP Windflower ) ( NN gold ) ( NN property ) ) ( PP-LOC ( IN in ) ( NP ( NNP British ) ( NNP Columbia ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Granges said it also plans in the third quarter to write down the carrying value of the Tartan mine by 2.5 million Canadian dollars 2.12 million and to write off most of the 6.3 million carrying value of its Windflower gold property in British Columbia


( S ( S ( NP-SBJ ( NNS Granges ) ) ( VP ( VBD did ) ( RB n't ) ( VP ( VB say ) ( SBAR ( WHNP-1 ( WDT what ) ( NN impact ) ) ( S ( NP-SBJ ( DT the ) ( NNS moves ) ) ( VP ( MD would ) ( VP ( VB have ) ( PP ( IN on ) ( NP ( NP ( JJ total ) ( NN gold ) ( NN output ) ) ( CC or ) ( NP ( NNS earnings ) ) ) ) ) ) ) ) ) ) ) ( CC and ) ( S ( NP-SBJ ( NN company ) ( NNS officials ) ) ( VP ( VBD were ) ( RB n't ) ( ADJP-PRD ( JJ available ) ) ) ) )

Granges did n't say what impact the moves would have on total gold output or earnings and company officials were n't available


( S ( NP-SBJ ( NNP Addington ) ( NNPS Resources ) ( NNP Inc. ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBD called ) ( PP-CLR ( IN for ) ( NP ( NN redemption ) ) ) ( PP-TMP ( IN on ) ( NP ( NNP Nov. ) ( CD 21 ) ) ) ( NP ( NP ( PRP$ its ) ( QP ( CD 25.8 ) ( CD million ) ) ) ( ADJP ( JJ outstanding ) ) ( PP ( IN of ) ( NP ( NP ( ADJP ( CD 8 ) ( NN % ) ) ( JJ convertible ) ( JJ subordinated ) ( NNS debentures ) ) ( ADJP ( JJ due ) ( NP-TMP ( CD 2013 ) ) ) ) ) ) ) ) ) ) )

Addington Resources Inc. said it called for redemption on Nov. 21 its 25.8 million outstanding of 8 % convertible subordinated debentures due 2013


( S ( S-TPC-2 ( NP-SBJ-1 ( DT The ) ( NNS debentures ) ) ( VP ( VBD were ) ( VP ( VBN issued ) ( PP ( IN in ) ( NP ( NP ( DT the ) ( NN face ) ( NN amount ) ) ( PP ( IN of ) ( NP ( QP ( CD 46 ) ( CD million ) ) ) ) ) ) ( PP-TMP ( IN on ) ( NP ( NNP July ) ( CD 11 ) ( CD 1988 ) ) ) ) ) ) ( NP-SBJ ( DT the ) ( NAC-LOC ( NNP Ashland ) ( NNP Ky. ) ) ( NN coal ) ( NN mining ) ( NN water ) ( NN transportation ) ( CC and ) ( NN construction ) ( NN company ) ) ( VP ( VBD said ) ) )

The debentures were issued in the face amount of 46 million on July 11 1988 the Ashland Ky. coal mining water transportation and construction company said


( S ( NP-SBJ ( DT The ) ( NN company ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ-1 ( DT the ) ( NN redemption ) ) ( VP ( VBZ is ) ( VP ( VBN permitted ) ( SBAR-PRP ( IN because ) ( S ( NP-SBJ ( NP ( DT the ) ( NN price ) ) ( PP ( IN of ) ( NP ( NP ( NNP Addington ) ( POS 's ) ) ( NN stock ) ) ) ) ( VP ( VBZ has ) ( VP ( VBN equaled ) ( CC or ) ( VBN exceeded ) ( NP ( CD 19.60 ) ) ( PP-TMP ( IN for ) ( NP ( CD 20 ) ( JJ consecutive ) ( NN trading ) ( NNS days ) ) ) ( NP-ADV ( NP ( DT a ) ( NN condition ) ) ( VP ( VBN set ) ( PP-LOC ( IN in ) ( NP ( NP ( DT the ) ( NNS terms ) ) ( PP ( IN of ) ( NP ( DT the ) ( NNS debentures ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

The company said the redemption is permitted because the price of Addington 's stock has equaled or exceeded 19.60 for 20 consecutive trading days a condition set in the terms of the debentures


( S ( NP-SBJ-1 ( NN Debenture ) ( NNS holders ) ) ( VP ( VBP are ) ( VP ( VBN expected ) ( S ( VP ( TO to ) ( VP ( VB convert ) ( NP ( NP ( JJS most ) ) ( PP ( IN of ) ( NP ( DT the ) ( NNS debentures ) ) ) ) ( PP-CLR ( IN into ) ( NP ( JJ common ) ) ) ( SBAR-PRP ( IN because ) ( S ( NP-SBJ ( NP ( DT the ) ( NN value ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( NN stock ) ) ( VP ( VBN received ) ( PP-LOC ( IN in ) ( NP ( DT a ) ( NN conversion ) ) ) ) ) ) ) ( VP ( MD would ) ( VP ( VB exceed ) ( NP ( DT the ) ( ADJP ( CD 1,103.11 ) ) ( NN redemption ) ( NN price ) ) ) ) ) ) ) ) ) ) ) )

Debenture holders are expected to convert most of the debentures into common because the value of the stock received in a conversion would exceed the 1,103.11 redemption price


( S ( NP-SBJ ( NP ( NNP Georgia ) ( NNP Gulf ) ( NNP Corp. ) ) ( VP ( VBN hurt ) ( PP ( IN by ) ( NP-LGS ( NP ( VBG declining ) ( NNS sales ) ) ( CC and ) ( NP ( VBG falling ) ( NN chemical ) ( NNS prices ) ) ) ) ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( JJ third-quarter ) ( NNS earnings ) ) ( VP ( VBD fell ) ( NP-EXT ( CD 13 ) ( NN % ) ) ( PP-DIR ( TO to ) ( NP ( QP ( CD 46.1 ) ( CD million ) ) ) ) ( PP-DIR ( IN from ) ( NP ( QP ( CD 53.1 ) ( CD million ) ) ) ( PP-TMP ( IN in ) ( NP ( DT the ) ( JJ year-earlier ) ( NN period ) ) ) ) ) ) ) ) )

Georgia Gulf Corp. hurt by declining sales and falling chemical prices said third-quarter earnings fell 13 % to 46.1 million from 53.1 million in the year-earlier period


( S ( NP-SBJ ( NNS Sales ) ) ( VP ( VBD declined ) ( NP-EXT ( CD 10 ) ( NN % ) ) ( PP-DIR ( TO to ) ( NP ( QP ( CD 251.2 ) ( CD million ) ) ) ) ( PP-DIR ( IN from ) ( NP ( QP ( CD 278.7 ) ( CD million ) ) ) ) ) )

Sales declined 10 % to 251.2 million from 278.7 million


( S ( NP-SBJ ( DT The ) ( JJ Atlanta-based ) ( NN chemical ) ( NN manufacturer ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( JJR lower ) ( NNS prices ) ) ( VP ( VB hurt ) ( NP ( NNS margins ) ) ( PP ( IN for ) ( NP ( JJS most ) ( NNS products ) ) ) ) ) ) ) )

The Atlanta-based chemical manufacturer said lower prices hurt margins for most products


( S ( S-TPC-1 ( S ( NP-SBJ ( PRP We ) ) ( VP ( VBD did ) ( VP ( VB see ) ( NP ( DT some ) ( NN relief ) ) ( PP-LOC ( IN in ) ( NP ( JJ raw ) ( NN material ) ( NNS costs ) ) ) ) ) ) ( CC but ) ( S ( NP-SBJ-2 ( PRP it ) ) ( VP ( VBD was ) ( RB n't ) ( ADJP-PRD ( JJ sufficient ) ( S ( VP ( TO to ) ( VP ( VB offset ) ( NP ( NP ( DT the ) ( NN drop ) ) ( PP-LOC ( IN in ) ( NP ( NNS sales ) ( NNS prices ) ) ) ) ) ) ) ) ) ) ) ( NP-SBJ ( NP ( NNP James ) ( NNP R. ) ( NNP Kuse ) ) ( NP ( NP ( DT the ) ( NN company ) ( POS 's ) ) ( NX ( NX ( NN chairman ) ) ( CC and ) ( NX ( JJ chief ) ( NN executive ) ( NN officer ) ) ) ) ) ( VP ( VBD said ) ( PP-LOC ( IN in ) ( NP ( DT a ) ( NN statement ) ) ) ) )

We did see some relief in raw material costs but it was n't sufficient to offset the drop in sales prices James R. Kuse the company 's chairman and chief executive officer said in a statement


( S ( PP ( IN On ) ( NP ( DT a ) ( JJ per-share ) ( NN basis ) ) ) ( NP-SBJ ( JJ quarterly ) ( NNS earnings ) ) ( VP ( VBN remained ) ( PP-LOC-PRD ( IN at ) ( NP ( NP ( CD 1.85 ) ) ( NP ( NP ( DT the ) ( JJ same ) ) ( PP ( IN as ) ( NP-TMP ( JJ last ) ( NN year ) ) ) ) ) ) ( PP-PRP ( IN because ) ( IN of ) ( NP ( NP ( DT the ) ( NN company ) ( POS 's ) ) ( NN share ) ( NN buy-back ) ( NN program ) ) ) ) )

On a per-share basis quarterly earnings remained at 1.85 the same as last year because of the company 's share buy-back program


( S ( NP-SBJ ( NNP Georgia ) ( NNP Gulf ) ) ( VP ( VBD had ) ( NP ( NP ( QP ( CD 24.9 ) ( CD million ) ) ( NNS shares ) ) ( ADJP ( JJ outstanding ) ) ) ( PP ( IN on ) ( NP ( NN average ) ) ) ( PP-TMP ( IN in ) ( NP ( DT the ) ( NN quarter ) ) ) ( PP ( VBN compared ) ( PP ( IN with ) ( NP ( NP ( QP ( CD 28.6 ) ( CD million ) ) ) ( PP-TMP ( IN in ) ( NP ( NP ( DT the ) ( JJ third ) ( NN quarter ) ) ( PP ( IN of ) ( NP ( CD 1988 ) ) ) ) ) ) ) ) ( VP-1 ( VBN adjusted ) ( PP-CLR ( IN for ) ( NP ( NP ( DT a ) ( NN stock ) ( NN split ) ) ( VP ( VBN paid ) ( PP-TMP ( IN in ) ( NP ( NNP January ) ( CD 1989 ) ) ) ) ) ) ) ) )

Georgia Gulf had 24.9 million shares outstanding on average in the quarter compared with 28.6 million in the third quarter of 1988 adjusted for a stock split paid in January 1989


( S ( PP-LOC ( IN In ) ( NP ( JJ composite ) ( NNP New ) ( NNP York ) ( NNP Stock ) ( NNP Exchange ) ( NN trading ) ) ) ( NP-SBJ-3 ( NP ( NN stock ) ) ( PP-LOC ( IN in ) ( NP ( NP ( NNP Georgia ) ( NNP Gulf ) ) ( SBAR ( WHNP-2 ( WDT which ) ) ( S ( VP ( VBZ has ) ( VP ( VBN been ) ( VP ( VBN mentioned ) ( PP-CLR ( IN as ) ( NP ( DT a ) ( NN takeover ) ( NN candidate ) ) ) ) ) ) ) ) ) ) ) ( VP ( VBD rose ) ( NP-EXT ( NP ( CD 2.125 ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ( S-CLR ( VP ( TO to ) ( VP ( VB close ) ( PP-CLR ( IN at ) ( NP ( CD 46.125 ) ) ) ) ) ) ) )

In composite New York Stock Exchange trading stock in Georgia Gulf which has been mentioned as a takeover candidate rose 2.125 a share to close at 46.125


( S ( NP-SBJ ( NNP Senate ) ( NNPS Republicans ) ) ( VP ( VBP have ) ( VP ( VBN settled ) ( PP-CLR ( IN on ) ( NP ( NP ( DT a ) ( NN proposal ) ) ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( VP ( MD would ) ( VP ( VB cut ) ( NP ( NP ( DT the ) ( NNS capital-gains ) ( NN tax ) ) ( PP ( IN for ) ( NP ( NNS individuals ) ( CC and ) ( NNS corporations ) ) ) ) ) ) ) ) ) ) ) ) )

Senate Republicans have settled on a proposal that would cut the capital-gains tax for individuals and corporations


( S ( PP-TMP ( IN At ) ( NP ( DT the ) ( JJ same ) ( NN time ) ) ) ( NP-SBJ ( NP ( DT a ) ( JJ small ) ( NN group ) ) ( PP ( IN of ) ( NP ( NNP Senate ) ( NNPS Democrats ) ) ) ) ( VP ( VP ( VBP are ) ( VP ( VBG working ) ( PP-CLR ( IN on ) ( NP ( DT a ) ( JJ similar ) ( NN plan ) ) ) ) ) ( CC and ) ( VP ( MD may ) ( VP ( VB introduce ) ( NP ( PRP it ) ) ( ADVP-TMP ( RB soon ) ) ) ) ) )

At the same time a small group of Senate Democrats are working on a similar plan and may introduce it soon


( S ( NP-SBJ ( NP ( NP ( NNP Sen. ) ( NNP Bob ) ( NNP Packwood ) ) ( PRN ( NP ( NNP R. ) ) ( NP-LOC ( NNP Ore. ) ) ) ) ( NP ( NP ( DT the ) ( JJ lead ) ( NN sponsor ) ) ( PP ( IN of ) ( NP ( DT the ) ( NNP GOP ) ( NN proposal ) ) ) ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ-2 ( PRP he ) ) ( VP ( VBZ intends ) ( S ( VP ( VP ( TO to ) ( VP ( VB unveil ) ( NP ( DT the ) ( NN plan ) ) ( NP-TMP ( NN today ) ) ) ) ( CC and ) ( VP ( TO to ) ( VP ( VB offer ) ( NP ( PRP it ) ) ( PP-CLR ( IN as ) ( NP ( NP ( DT an ) ( NN amendment ) ) ( PP ( TO to ) ( NP ( SBAR-NOM ( WHNP-1 ( WDT whatever ) ( NN legislation ) ) ( S ( VP ( VBZ comes ) ( ADVP-CLR ( RB along ) ) ) ) ) ( ADVP ( RB particularly ) ) ( NP ( NP ( NP ( DT this ) ( NN month ) ( POS 's ) ) ( NN bill ) ) ( SBAR ( S ( VP ( TO to ) ( VP ( VB raise ) ( NP ( DT the ) ( JJ federal ) ( NN borrowing ) ( NN limit ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Sen. Bob Packwood R. Ore. the lead sponsor of the GOP proposal said he intends to unveil the plan today and to offer it as an amendment to whatever legislation comes along particularly this month 's bill to raise the federal borrowing limit


( S ( NP-SBJ ( PRP He ) ) ( VP ( VBD gave ) ( NP ( JJ 10-to-1 ) ( NNS odds ) ( SBAR ( IN that ) ( S ( NP-SBJ-2 ( NP ( DT a ) ( NNS capital-gains ) ( NN tax ) ( NN cut ) ) ( PP ( IN of ) ( NP ( DT some ) ( NN sort ) ) ) ) ( VP ( MD would ) ( VP ( VB be ) ( VP ( VBN approved ) ( NP-TMP ( DT this ) ( NN year ) ) ( SBAR-ADV ( IN though ) ( S ( NP-SBJ-3 ( PRP it ) ) ( ADVP ( RB probably ) ) ( VP ( MD wo ) ( RB n't ) ( VP ( VB be ) ( VP ( VBN included ) ( PP-LOC-CLR ( IN in ) ( NP ( DT the ) ( VBG pending ) ( NN deficit-reduction ) ( NN bill ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

He gave 10-to-1 odds that a capital-gains tax cut of some sort would be approved this year though it probably wo n't be included in the pending deficit-reduction bill


( S ( NP-SBJ ( PRP He ) ) ( VP ( VBD added ) ( SBAR ( IN that ) ( S ( NP-SBJ-2 ( PRP he ) ) ( VP ( VBZ expects ) ( S ( VP ( TO to ) ( VP ( VB talk ) ( PP-CLR ( TO to ) ( NP ( NP ( DT the ) ( NNPS Democrats ) ) ( SBAR ( WHNP-1 ( WP who ) ) ( S ( ADVP ( RB also ) ) ( VP ( VBD wanted ) ( S ( VP ( TO to ) ( S ( VP ( VB cut ) ( NP ( DT the ) ( NNS gains ) ( NN tax ) ) ) ) ) ) ) ) ) ) ) ( PP ( IN about ) ( S-NOM ( VP ( VBG drafting ) ( NP ( DT a ) ( JJ joint ) ( NN proposal ) ) ) ) ) ) ) ) ) ) ) ) )

He added that he expects to talk to the Democrats who also wanted to cut the gains tax about drafting a joint proposal


( S ( PP ( IN For ) ( NP ( NNS individuals ) ) ) ( NP-SBJ ( DT the ) ( NNP Packwood ) ( NN plan ) ) ( VP ( MD would ) ( VP ( VB exclude ) ( PP-CLR ( IN from ) ( NP ( NN income ) ) ) ( NP ( NP ( CD 5 ) ( NN % ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( NN gain ) ) ( PP ( IN from ) ( NP ( NP ( DT the ) ( NN sale ) ) ( PP ( IN of ) ( NP ( NP ( DT a ) ( NN capital ) ( NN asset ) ) ( VP ( VBN held ) ( PP-TMP ( IN for ) ( NP ( QP ( JJR more ) ( IN than ) ( CD one ) ) ( NN year ) ) ) ) ) ) ) ) ) ) ) ) ) )

For individuals the Packwood plan would exclude from income 5 % of the gain from the sale of a capital asset held for more than one year


( S ( NP-SBJ ( DT The ) ( NN exclusion ) ) ( VP ( MD would ) ( VP ( VB rise ) ( NP-EXT ( CD five ) ( NN percentage ) ( NNS points ) ) ( PP ( IN for ) ( NP ( NP ( DT each ) ( NN year ) ) ( SBAR ( S ( NP-SBJ-1 ( DT the ) ( NN asset ) ) ( VP ( VBD was ) ( VP ( VBN held ) ) ) ) ) ) ) ( SBAR-TMP ( IN until ) ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBD reached ) ( NP ( NP ( DT a ) ( NN maximum ) ) ( PP ( IN of ) ( NP ( CD 35 ) ( NN % ) ) ) ) ) ) ) ) ) )

The exclusion would rise five percentage points for each year the asset was held until it reached a maximum of 35 %


( S ( NP-SBJ ( DT The ) ( NN exclusion ) ) ( VP ( MD would ) ( VP ( VB apply ) ( PP-CLR ( TO to ) ( NP ( NP ( NNS assets ) ) ( VP ( VBN sold ) ( PP-TMP ( IN after ) ( NP ( NNP Oct. ) ( CD 1 ) ( CD 1989 ) ) ) ) ) ) ) ) )

The exclusion would apply to assets sold after Oct. 1 1989


( S-2 ( PP ( IN As ) ( NP ( DT an ) ( NN alternative ) ) ) ( PRN ( S ( NP-SBJ ( PRP he ) ) ( VP ( VBD said ) ) ) ) ( NP-SBJ-1 ( NNS taxpayers ) ) ( VP ( MD could ) ( VP ( VBD chose ) ( S ( VP ( TO to ) ( VP ( VB reduce ) ( NP ( PRP$ their ) ( NNS gains ) ) ( PP-EXT ( IN by ) ( NP ( DT an ) ( NN inflation ) ( NN index ) ) ) ) ) ) ) ) )

As an alternative he said taxpayers could chose to reduce their gains by an inflation index


( S ( PP ( IN For ) ( NP ( NNS corporations ) ) ) ( NP-SBJ-1 ( NP ( DT the ) ( JJ top ) ( NN tax ) ( NN rate ) ) ( PP ( IN on ) ( NP ( NP ( DT the ) ( NN sale ) ) ( PP ( IN of ) ( NP ( NP ( NNS assets ) ) ( VP ( VBN held ) ( PP-TMP ( IN for ) ( NP ( QP ( JJR more ) ( IN than ) ( CD three ) ) ( NNS years ) ) ) ) ) ) ) ) ) ( VP ( MD would ) ( VP ( VB be ) ( VP ( VBN cut ) ( PP-DIR ( TO to ) ( NP ( CD 33 ) ( NN % ) ) ) ( PP-DIR ( IN from ) ( NP ( NP ( DT the ) ( JJ current ) ( NN top ) ( NN rate ) ) ( PP ( IN of ) ( NP ( CD 34 ) ( NN % ) ) ) ) ) ) ) ) )

For corporations the top tax rate on the sale of assets held for more than three years would be cut to 33 % from the current top rate of 34 %


( S ( NP-SBJ ( DT That ) ( NN rate ) ) ( VP ( MD would ) ( VP ( ADVP-MNR ( RB gradually ) ) ( VB decline ) ( PP-DIR ( TO to ) ( NP ( QP ( RB as ) ( JJ little ) ( IN as ) ( CD 29 ) ) ( NN % ) ) ) ( PP ( IN for ) ( NP ( NP ( JJ corporate ) ( NNS assets ) ) ( VP ( VBN held ) ( PP-TMP ( IN for ) ( NP ( CD 15 ) ( NNS years ) ) ) ) ) ) ) ) )

That rate would gradually decline to as little as 29 % for corporate assets held for 15 years


( S ( NP-SBJ ( DT The ) ( NNP Packwood ) ( NN plan ) ) ( VP ( MD would ) ( ADVP ( RB also ) ) ( VP ( VB include ) ( NP ( NP ( DT a ) ( NN proposal ) ) ( VP ( VBN designed ) ( PP ( IN by ) ( NP-LGS ( NP ( NNP Sen. ) ( NNP William ) ( NNP Roth ) ) ( PRN ( NP ( NNP R. ) ) ( NP-LOC ( NNP Del. ) ) ) ) ) ) ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( VP ( MD would ) ( VP ( VB expand ) ( CC and ) ( VB alter ) ( NP ( NP ( DT the ) ( NN deduction ) ) ( PP ( IN for ) ( NP ( JJ individual ) ( NN retirement ) ( NNS accounts ) ) ) ) ) ) ) ) ) ) ) )

The Packwood plan would also include a proposal designed by Sen. William Roth R. Del. that would expand and alter the deduction for individual retirement accounts


( S ( NP-SBJ ( DT The ) ( NNP Roth ) ( NN plan ) ) ( VP ( MD would ) ( VP ( VB create ) ( NP ( NP ( DT a ) ( JJ new ) ( JJ non-deductible ) ( NNP IRA ) ) ( SBAR ( WHPP-2 ( IN from ) ( WHNP ( WDT which ) ) ) ( S ( NP-SBJ-1 ( NN money ) ) ( VP ( MD could ) ( VP ( VB be ) ( VP ( VBN withdrawn ) ( ADVP-MNR ( JJ tax-free ) ) ( UCP ( PP ( CONJP ( RB not ) ( JJ only ) ) ( PP ( IN for ) ( NP ( NN retirement ) ) ) ( CONJP ( CC but ) ( RB also ) ) ( PP ( IN for ) ( NP ( NP ( DT the ) ( NN purchase ) ) ( PP ( IN of ) ( NP ( DT a ) ( JJ first ) ( NN home ) ) ) ) ) ) ( CC and ) ( S-PRP ( VP ( TO to ) ( VP ( VB pay ) ( NP ( UCP ( NN education ) ( CC and ) ( JJ medical ) ) ( NNS expenses ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

The Roth plan would create a new non-deductible IRA from which money could be withdrawn tax-free not only for retirement but also for the purchase of a first home and to pay education and medical expenses


( S ( NP-SBJ ( JJ Current ) ( NNS IRAs ) ) ( VP ( VP ( MD could ) ( VP ( VB be ) ( VP ( VBN rolled ) ( ADVP-CLR ( RB over ) ) ( PP-CLR ( IN into ) ( NP ( DT the ) ( JJ new ) ( NNS IRAs ) ) ) ) ) ) ( CC but ) ( VP ( MD would ) ( VP ( VB be ) ( ADJP-PRD ( JJ subject ) ( PP ( TO to ) ( NP ( VB tax ) ) ) ) ) ) ) )

Current IRAs could be rolled over into the new IRAs but would be subject to tax


( S ( PP ( IN For ) ( NP ( PRP$ their ) ( NN part ) ) ) ( NP-SBJ ( NP ( DT the ) ( NN group ) ) ( PP ( IN of ) ( NP ( NNPS Democrats ) ) ) ) ( VP ( VBP are ) ( VP ( VBG working ) ( PP-CLR ( IN on ) ( NP ( NP ( DT a ) ( NN plan ) ) ( SBAR ( WHNP-2 ( IN that ) ) ( S ( PP ( IN like ) ( NP ( DT the ) ( NNP Packwood ) ( NN proposal ) ) ) ( VP ( MD would ) ( VP ( VB grant ) ( NP ( JJR larger ) ( NNS exclusions ) ) ( PP-DTV ( TO to ) ( NP ( NNS assets ) ) ) ( ADVP ( DT the ) ( RB longer ) ( SBAR ( S ( NP-SBJ-1 ( PRP they ) ) ( VP ( VBD were ) ( VP ( VBN held ) ( PP ( IN by ) ( NP-LGS ( NNS individuals ) ( CC and ) ( NNS companies ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

For their part the group of Democrats are working on a plan that like the Packwood proposal would grant larger exclusions to assets the longer they were held by individuals and companies


( S ( NP-SBJ ( ADJP ( RB Newly ) ( JJ acquired ) ) ( NNS assets ) ) ( VP ( MD would ) ( VP ( VB get ) ( NP ( NP ( DT a ) ( JJR bigger ) ( NN break ) ) ( PP ( IN than ) ( NP ( NP ( DT those ) ) ( VP ( ADVP-TMP ( RB currently ) ) ( VBN held ) ) ) ) ) ) ) )

Newly acquired assets would get a bigger break than those currently held


( S ( NP-SBJ-1 ( DT An ) ( JJ extra ) ( NN exclusion ) ) ( VP ( MD would ) ( VP ( VB be ) ( VP ( VBN given ) ( PP-DTV ( TO to ) ( NP ( NP ( JJ long-held ) ( NN stock ) ) ( PP-LOC ( IN in ) ( NP ( NP ( ADJP ( JJ small ) ( CC and ) ( JJ medium-size ) ) ( NNS corporations ) ) ( VP ( ADVP ( RB just ) ) ( VBG starting ) ( PRT ( RB up ) ) ) ) ) ) ) ) ) ) )

An extra exclusion would be given to long-held stock in small and medium-size corporations just starting up


( S ( NP-SBJ ( NP ( DT No ) ( NN one ) ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( NNP Senate ) ) ) ) ( VP ( VBZ is ) ( VP ( VBG considering ) ( NP ( NP ( DT the ) ( NNS capital-gains ) ( NN plan ) ) ( VP ( VBN passed ) ( PP ( IN by ) ( NP-LGS ( DT the ) ( NNP House ) ) ) ) ) ) ) )

No one in the Senate is considering the capital-gains plan passed by the House


( S ( NP-SBJ ( DT That ) ( NN plan ) ) ( VP ( MD would ) ( VP ( VB provide ) ( NP ( DT a ) ( ADJP ( CD 30 ) ( NN % ) ) ( NN exclusion ) ) ( PP-CLR ( TO to ) ( NP ( NP ( NNS assets ) ) ( VP ( VBN sold ) ( PP-TMP ( IN over ) ( NP ( NP ( DT a ) ( ADJP ( CD 2 ) ( JJ 1\/2-year ) ) ( NN period ) ) ( VP ( VBG ending ) ( NP ( NNP Dec. ) ( CD 31 ) ( CD 1991 ) ) ) ) ) ) ) ) ) ) )

That plan would provide a 30 % exclusion to assets sold over a 2 1\/2-year period ending Dec. 31 1991


( S ( PP-TMP ( IN After ) ( NP ( RB then ) ) ) ( NP-SBJ ( DT the ) ( NNP House ) ( NN measure ) ) ( VP ( MD would ) ( VP ( VP ( VB boost ) ( NP ( DT the ) ( NN tax ) ( NN rate ) ) ( PP-DIR ( TO to ) ( NP ( CD 28 ) ( NN % ) ) ) ) ( CC and ) ( VP ( VB exclude ) ( PP-CLR ( IN from ) ( NP ( NN tax ) ) ) ( NP ( NP ( DT the ) ( NN gain ) ) ( ADJP ( JJ attributable ) ( PP ( TO to ) ( NP ( NN inflation ) ) ) ) ) ) ) ) )

After then the House measure would boost the tax rate to 28 % and exclude from tax the gain attributable to inflation


( S ( NP-SBJ-1 ( NNS Senators ) ) ( VP ( VBP are ) ( VP ( VBG focusing ) ( PP-CLR ( IN on ) ( S-NOM ( VP ( VBG making ) ( S ( NP-SBJ ( DT a ) ( NNS capital-gains ) ( NN differential ) ) ( ADJP-PRD ( JJ permanent ) ) ) ) ) ) ) ) )

Senators are focusing on making a capital-gains differential permanent


( S ( ADVP ( RB Separately ) ) ( NP-SBJ ( NP ( NNP Chairman ) ( NNP Dan ) ( NNP Rostenkowski ) ) ( PRN ( NP ( NNP D. ) ) ( NP-LOC ( NNP Ill ) ) ) ( PP ( IN of ) ( NP ( DT the ) ( NNP House ) ( NNPS Ways ) ( CC and ) ( NNP Means ) ( NNP Committee ) ) ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( PRP he ) ) ( VP ( VBD did ) ( RB n't ) ( VP ( VB want ) ( S ( NP-SBJ ( NP ( DT the ) ( NNS capital-gains ) ( NN tax ) ( NN cut ) ) ( CC or ) ( NP ( NP ( DT any ) ( JJ other ) ( NNS amendments ) ) ( VP ( VBN attached ) ( PP-CLR ( TO to ) ( NP ( DT the ) ( VBG pending ) ( NN bill ) ) ) ) ) ) ( VP ( VBG raising ) ( NP ( DT the ) ( JJ federal ) ( NN borrowing ) ( NN limit ) ) ) ) ) ) ) ) ) )

Separately Chairman Dan Rostenkowski D. Ill of the House Ways and Means Committee said he did n't want the capital-gains tax cut or any other amendments attached to the pending bill raising the federal borrowing limit


( S ( NP-SBJ ( DT The ) ( JJ current ) ( NN debt ) ( NN limit ) ) ( VP ( VBZ expires ) ( NP-TMP ( NNP Oct. ) ( CD 31 ) ) ) )

The current debt limit expires Oct. 31


( S ( NP-SBJ ( PRP He ) ) ( ADVP ( RB also ) ) ( VP ( VBD urged ) ( NP-2 ( NNP House ) ( CC and ) ( NNP Senate ) ( NNS negotiators ) ) ( S ( VP ( TO to ) ( VP ( VB rid ) ( NP ( DT the ) ( NN deficit-reduction ) ( NN bill ) ) ( PP-CLR ( IN of ) ( NP ( NP ( DT all ) ( NNS provisions ) ) ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( VP ( VBP increase ) ( NP ( DT the ) ( NN budget ) ( NN deficit ) ) ) ) ) ( PP ( VBG including ) ( NP ( DT the ) ( JJ House-passed ) ( NNS capital-gains ) ( NN provision ) ) ) ) ) ) ) ) ) )

He also urged House and Senate negotiators to rid the deficit-reduction bill of all provisions that increase the budget deficit including the House-passed capital-gains provision


( S ( PP-LOC ( IN In ) ( NP ( DT a ) ( NN move ) ( S ( VP ( TO to ) ( VP ( VB prevent ) ( NP ( NP ( DT any ) ( NN dislocation ) ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( JJ financial ) ( NNS markets ) ) ) ( PP ( IN from ) ( NP ( DT the ) ( NNP California ) ( NN earthquake ) ) ) ) ) ) ) ) ) ( NP-SBJ ( DT the ) ( NNPS Securities ) ( CC and ) ( NNP Exchange ) ( NNP Commission ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( PRP it ) ) ( ADVP-TMP ( RB temporarily ) ) ( VP ( VBD reassigned ) ( NP ( NP ( NNS options ) ) ( VP ( VBN listed ) ( PP-LOC ( IN on ) ( NP ( DT the ) ( NNP Pacific ) ( NNP Stock ) ( NNP Exchange ) ) ) ) ) ( PP-CLR ( PP ( TO to ) ( NP ( DT the ) ( UCP ( JJ American ) ( NNP New ) ( NNP York ) ( CC and ) ( NNP Philadelphia ) ) ( NN stock ) ( NNS exchanges ) ) ) ( CC and ) ( PP ( TO to ) ( NP ( DT the ) ( NNP Chicago ) ( NNP Board ) ( NNPS Options ) ( NNP Exchange ) ) ) ) ) ) ) ) )

In a move to prevent any dislocation in the financial markets from the California earthquake the Securities and Exchange Commission said it temporarily reassigned options listed on the Pacific Stock Exchange to the American New York and Philadelphia stock exchanges and to the Chicago Board Options Exchange


( S ( NP-SBJ-1 ( NP ( DT The ) ( NN decision ) ) ( SBAR ( WHNP-3 ( WDT which ) ) ( S ( VP ( VBZ affects ) ( NP ( NP ( NNS millions ) ) ( PP ( IN of ) ( NP ( NP ( NNS dollars ) ) ( PP ( IN of ) ( NP ( NN trading ) ( NNS positions ) ) ) ) ) ) ) ) ) ) ( VP ( VBD was ) ( VP ( VBN made ) ( NP-TMP ( JJ late ) ( NN yesterday ) ) ( SBAR-PRP ( IN because ) ( S ( NP-SBJ-2 ( NP ( DT the ) ( NNP Pacific ) ( NN exchange ) ( POS 's ) ) ( NNS options ) ( NN floor ) ) ( VP ( VBD was ) ( VP ( VBN shut ) ( PRT ( RP down ) ) ( PP-PRP ( IN as ) ( NP ( NP ( DT a ) ( NN result ) ) ( PP ( IN of ) ( NP ( NP ( NNP Tuesday ) ( POS 's ) ) ( NN earthquake ) ) ) ) ) ) ) ) ) ) ) )

The decision which affects millions of dollars of trading positions was made late yesterday because the Pacific exchange 's options floor was shut down as a result of Tuesday 's earthquake


( S ( NP-SBJ-3 ( DT The ) ( NNP SEC ) ) ( S-ADV ( VP ( VBN faced ) ( PP-CLR ( IN with ) ( NP ( NP ( DT a ) ( JJ major ) ( NN squeeze ) ) ( PP-LOC ( IN on ) ( NP ( NNS options ) ( NNS positions ) ) ) ) ) ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( NP ( PRP it ) ) ) ( VP ( VBD was ) ( ADJP-PRD ( JJ necessary ) ) ( S-2 ( VP ( TO to ) ( VP ( VB ensure ) ( SBAR ( IN that ) ( S ( NP-SBJ-1 ( NP ( NNS options ) ) ( VP ( VBN listed ) ( PP-LOC ( IN on ) ( NP ( DT the ) ( NN exchange ) ) ) ) ) ( VP ( MD could ) ( VP ( VB be ) ( VP ( VBN traded ) ( NP-TMP ( NN today ) ( CC and ) ( NN tomorrow ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

The SEC faced with a major squeeze on options positions said it was necessary to ensure that options listed on the exchange could be traded today and tomorrow


( S ( NP-SBJ ( NNP SEC ) ( NNP Chairman ) ( NNP Richard ) ( NNP Breeden ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ-1 ( NP ( DT the ) ( NN cooperation ) ) ( PP ( IN by ) ( NP ( DT the ) ( NNS exchanges ) ) ) ) ( VP ( MD would ) ( VP ( VB enable ) ( S ( NP-SBJ ( NNS investors ) ) ( VP ( TO to ) ( VP ( VB buy ) ( CC and ) ( VB sell ) ( NP ( NP ( NNS options ) ) ( VP ( VBN listed ) ( PP-LOC ( ADVP ( RB solely ) ) ( IN on ) ( NP ( DT the ) ( NNP Pacific ) ( NN exchange ) ) ) ) ) ) ) ) ( S-ADV ( VP ( VBG guaranteeing ) ( NP ( NP ( DT the ) ( NN liquidity ) ) ( PP ( IN of ) ( NP ( DT the ) ( NN market ) ) ) ) ) ) ) ) ) ) ) )

SEC Chairman Richard Breeden said the cooperation by the exchanges would enable investors to buy and sell options listed solely on the Pacific exchange guaranteeing the liquidity of the market


( S ( NP-SBJ ( NP ( NNS Officials ) ) ( PP-LOC ( IN at ) ( NP ( DT the ) ( CD four ) ( NNS exchanges ) ) ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( NP ( QP ( RB well ) ( IN over ) ( CD 50 ) ) ( NNS traders ) ) ( PP ( IN from ) ( NP ( DT the ) ( NNP Pacific ) ( NN exchange ) ) ) ) ( VP ( VBD were ) ( VP ( VBG taking ) ( NP ( NP ( NNS flights ) ) ( PP ( IN from ) ( NP ( NNP San ) ( NNP Francisco ) ) ) ) ( NP-TMP ( JJ late ) ( NN yesterday ) ) ( PP-1 ( PP ( TO to ) ( NP ( DT the ) ( UCP ( JJ American ) ( NNP New ) ( NNP York ) ( CC and ) ( NNP Philadelphia ) ) ( NNS exchanges ) ) ) ( CC and ) ( PP ( TO to ) ( NP ( NP ( DT the ) ( NNP CBOE ) ) ( SBAR ( WHADVP-2 ( WRB where ) ) ( S ( NP-SBJ-3 ( PRP they ) ) ( VP ( MD would ) ( VP ( VB continue ) ( S ( VP ( VBG making ) ( NP ( NP ( NNS markets ) ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( JJ Pacific-listed ) ( NNS options ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Officials at the four exchanges said well over 50 traders from the Pacific exchange were taking flights from San Francisco late yesterday to the American New York and Philadelphia exchanges and to the CBOE where they would continue making markets in the Pacific-listed options


( S ( NP-SBJ ( DT The ) ( NNP Big ) ( NNP Board ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( NNS carpenters ) ) ( VP ( ADVP-MNR ( RB quickly ) ) ( VBD erected ) ( NP ( NP ( DT a ) ( JJ new ) ( NNS options ) ( NN floor ) ) ( SBAR ( S ( VP ( TO to ) ( VP ( VB accomodate ) ( NP ( NP ( CD 40 ) ( NNS traders ) ) ( PP ( IN from ) ( NP ( DT the ) ( NNP Pacific ) ( NN exchange ) ) ) ) ) ) ) ) ) ) ) ) ) )

The Big Board said carpenters quickly erected a new options floor to accomodate 40 traders from the Pacific exchange


( S ( PP ( IN In ) ( NP ( NN addition ) ) ) ( NP-SBJ-1 ( NP ( NNS specialists ) ) ( PP-LOC ( IN on ) ( NP ( DT the ) ( NNS exchanges ) ) ) ) ( VP ( VBD agreed ) ( S ( VP ( TO to ) ( VP ( VB provide ) ( NP ( NP ( JJ backup ) ( NN capital ) ) ( PP ( IN for ) ( NP ( NP ( NN market-making ) ) ( PP-LOC ( IN in ) ( NP ( NP ( NNP Pacific ) ( NN exchange ) ( NNS options ) ) ( VP ( VBN traded ) ( PP-LOC ( IN on ) ( NP ( DT the ) ( NNS exchanges ) ) ) ) ) ) ) ) ) ) ) ) ) )

In addition specialists on the exchanges agreed to provide backup capital for market-making in Pacific exchange options traded on the exchanges


( S ( NP-SBJ ( NN Trading ) ) ( VP ( VBD was ) ( ADJP-PRD ( JJ light ) ) ( PP-LOC ( IN on ) ( NP ( DT the ) ( NNP Pacific ) ( NNP Stock ) ( NNP Exchange ) ) ) ( NP-TMP ( NN yesterday ) ) ( PP ( IN with ) ( S-NOM ( NP-SBJ-1 ( NP ( NNS workers ) ) ( PP-LOC ( IN at ) ( NP ( NP ( NP ( DT the ) ( NN exchange ) ( POS 's ) ) ( JJ main ) ( NN floor ) ) ( PP-LOC ( IN in ) ( NP ( NNP San ) ( NNP Francisco ) ) ) ) ) ) ( VP ( VBG struggling ) ( S ( VP ( TO to ) ( VP ( VB execute ) ( NP ( NNS orders ) ) ( PP-MNR ( IN by ) ( NP ( NN flashlight ) ) ) ( PP-PRP ( IN as ) ( NP ( NP ( DT a ) ( NN result ) ) ( PP ( IN of ) ( NP ( DT a ) ( VBG continuing ) ( NN power ) ( NN outage ) ) ) ) ) ) ) ) ) ) ) ) )

Trading was light on the Pacific Stock Exchange yesterday with workers at the exchange 's main floor in San Francisco struggling to execute orders by flashlight as a result of a continuing power outage


( S ( NP-SBJ ( DT The ) ( ADJP ( RBS most ) ( JJ pressing ) ) ( NN problem ) ) ( VP ( VBD was ) ( NP-PRD ( NP ( DT the ) ( NN suspension ) ) ( PP ( IN of ) ( NP ( NNS options ) ( NN trading ) ) ) ) ) )

The most pressing problem was the suspension of options trading


( S ( NP-SBJ ( DT The ) ( NNP Pacific ) ( NN exchange ) ) ( VP ( VBZ has ) ( NP ( NP ( NNS options ) ) ( PP ( IN for ) ( NP ( NP ( CD 129 ) ( VBG underlying ) ( NN stock ) ( NNS issues ) ) ( PP ( VBG including ) ( NP ( NP ( ADJP ( RB highly ) ( JJ active ) ) ( NNP Hilton ) ( NNPS Hotels ) ( NNP Corp. ) ) ( SBAR ( WHNP-2 ( WDT which ) ) ( S ( VP ( VBZ is ) ( VP ( VBN listed ) ( PP-LOC ( IN on ) ( NP ( DT the ) ( NNP Big ) ( NNP Board ) ) ) ) ) ) ) ) ) ) ) ) ) )

The Pacific exchange has options for 129 underlying stock issues including highly active Hilton Hotels Corp. which is listed on the Big Board


( S ( NP-SBJ ( NNS Investors ) ) ( VP ( VBD were ) ( ADJP-PRD ( VBN concerned ) ( SBAR ( IN that ) ( S ( NP-SBJ-2 ( PRP they ) ) ( VP ( MD might ) ( VP ( VB be ) ( ADJP-PRD ( JJ unable ) ( S ( VP ( TO to ) ( VP ( VB exercise ) ( NP ( NP ( NNS options ) ) ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( VP ( VBP expire ) ( NP-TMP ( NN tomorrow ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Investors were concerned that they might be unable to exercise options that expire tomorrow


( S ( CC But ) ( NP-SBJ ( NNS professionals ) ) ( VP ( VBD said ) ( PP-TMP ( IN throughout ) ( NP ( DT the ) ( NN day ) ) ) ( SBAR ( IN that ) ( S ( NP-SBJ ( DT the ) ( NN shutdown ) ) ( VP ( MD would ) ( RB n't ) ( VP ( VB be ) ( NP-PRD ( NP ( DT a ) ( NN cause ) ) ( PP ( IN for ) ( NP ( NN alarm ) ) ) ) ( SBAR-ADV ( RB even ) ( IN if ) ( S ( NP-SBJ-1 ( PRP it ) ) ( VP ( VBD were ) ( S ( VP ( TO to ) ( VP ( VB persist ) ( PP-TMP ( IN for ) ( NP ( JJ several ) ( NNS days ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

But professionals said throughout the day that the shutdown would n't be a cause for alarm even if it were to persist for several days


( S ( S-TPC-2 ( NP-SBJ ( PRP I ) ) ( VP ( VBP 've ) ( VP ( VBN told ) ( NP ( PRP$ my ) ( NN staff ) ( CC and ) ( NNS clients ) ) ( SBAR ( IN that ) ( S ( NP-SBJ ( PRP they ) ) ( ADVP-TMP ( RB still ) ) ( VP ( VBP have ) ( NP ( DT the ) ( NN ability ) ( S ( VP ( TO to ) ( VP ( VB exercise ) ( NP ( PRP$ their ) ( NNS options ) ) ) ) ) ) ( SBAR-PRP ( IN because ) ( S ( NP-SBJ-1 ( PRP they ) ) ( VP ( VBP are ) ( VP ( VBN guaranteed ) ( PP ( IN by ) ( NP-LGS ( DT the ) ( NNPS Options ) ( NNP Clearing ) ( NNP Corp. ) ) ) ) ) ) ) ) ) ) ) ) ) ( VP ( VBD said ) ) ( NP-SBJ ( NP ( NNP Michael ) ( NNP Schwartz ) ) ( NP ( NP ( DT a ) ( JJ senior ) ( JJ registered ) ( NNS options ) ( NN strategist ) ) ( PP-LOC ( IN at ) ( NP ( NNP Oppenheimer ) ( CC & ) ( NNP Co ) ) ) ) ) )

I 've told my staff and clients that they still have the ability to exercise their options because they are guaranteed by the Options Clearing Corp. said Michael Schwartz a senior registered options strategist at Oppenheimer & Co


( S ( NP-SBJ-1 ( DT The ) ( NNP SEC ) ) ( VP ( VBD reassigned ) ( NP ( NP ( NN trading ) ) ( PP ( IN in ) ( NP ( DT the ) ( NNS options ) ) ) ) ( ADVP ( RB however ) ) ( S-PRP ( VP ( TO to ) ( VP ( VB allow ) ( S ( NP-SBJ ( NNS investors ) ) ( VP ( TO to ) ( VP ( VB do ) ( NP ( NP ( JJR more ) ) ( SBAR ( IN than ) ( S ( ADVP ( RB simply ) ) ( VP ( VB exercise ) ( NP ( DT the ) ( NNS options ) ) ) ) ) ) ) ) ) ) ) ) ) )

The SEC reassigned trading in the options however to allow investors to do more than simply exercise the options


( S ( SBAR-TMP ( IN While ) ( S ( NP-SBJ ( NP ( NP ( DT the ) ( NN exchange ) ( POS 's ) ) ( NNS equities ) ( NN floor ) ) ( PP-LOC ( IN in ) ( NP ( NNP San ) ( NNP Francisco ) ) ) ) ( VP ( VBD remained ) ( ADJP-PRD ( JJ open ) ) ( PP ( IN on ) ( NP ( DT a ) ( JJ limited ) ( NN basis ) ) ) ) ) ) ( NP-SBJ-1 ( NNS orders ) ) ( VP ( VBD were ) ( VP ( VBG being ) ( VP ( VBN routed ) ( CC and ) ( VBN executed ) ( PP-LOC ( IN in ) ( NP ( NNP Los ) ( NNP Angeles ) ) ) ) ) ) )

While the exchange 's equities floor in San Francisco remained open on a limited basis orders were being routed and executed in Los Angeles


( S ( S ( NP-SBJ ( NNS Workers ) ) ( VP ( MD could ) ( VP ( VB dial ) ( ADVP-DIR ( RB out ) ) ) ) ) ( CC but ) ( S ( NP-SBJ ( PRP they ) ) ( VP ( MD could ) ( RB n't ) ( VP ( VB receive ) ( NP ( NN telephone ) ( NNS calls ) ) ) ) ) )

Workers could dial out but they could n't receive telephone calls