( S ( NP-SBJ ( PRP He ) ) ( VP ( VBD said ) ( SBAR ( SBAR ( S ( NP-SBJ ( PRP he ) ) ( VP ( MD would ) ( VP ( VB contact ) ( NP ( NP ( NNP Mr. ) ( NNP Ross ) ) ( CC and ) ( NP ( NNP Warner ) ( NNPS Brothers ) ( NNP Chairman ) ( NNP Robert ) ( NNP Daly ) ) ) ) ) ) ) ( CC and ) ( SBAR ( IN that ) ( S ( PP-LOC ( IN in ) ( NP ( DT a ) ( NN conference ) ( NN call ) ) ) ( NP-SBJ ( DT the ) ( CD three ) ) ( VP ( VBD agreed ) ( SBAR ( S ( NP-SBJ ( PRP they ) ) ( VP ( MD could ) ( RB n't ) ( VP ( VB let ) ( S ( NP-SBJ ( DT the ) ( NNS producers ) ) ( ADVP-PRD ( IN out ) ( PP ( IN of ) ( NP ( PRP$ their ) ( NN contract ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

He said he would contact Mr. Ross and Warner Brothers Chairman Robert Daly and that in a conference call the three agreed they could n't let the producers out of their contract


( S ( NP-SBJ ( NNP Mr. ) ( NNP Ross ) ) ( PP-LOC ( IN in ) ( NP ( PRP$ his ) ( JJ own ) ( NN affidavit ) ) ) ( VP ( VBZ says ) ( SBAR ( S ( NP-SBJ ( NP ( PRP he ) ) ( CC and ) ( NP ( NNP Mr. ) ( NNP Daly ) ) ) ( VP ( VBD instructed ) ( NP-1 ( NNP Mr. ) ( NNP Semel ) ) ( S ( VP ( TO to ) ( VP ( VB tell ) ( NP ( DT the ) ( NNS producers ) ) ( SBAR ( S ( NP-SBJ ( NNP Warner ) ) ( VP ( MD would ) ( RB n't ) ( VP ( VB terminate ) ( NP ( PRP$ their ) ( NN agreement ) ) ) ) ) ) ) ) ) ) ) ) ) )

Mr. Ross in his own affidavit says he and Mr. Daly instructed Mr. Semel to tell the producers Warner would n't terminate their agreement


( S ( NP-SBJ ( NNP Mr. ) ( NNP Guber ) ) ( VP ( VBZ says ) ( SBAR ( SBAR ( IN that ) ( S ( NP-SBJ ( NNP Mr. ) ( NNP Semel ) ) ( VP ( VBD did ) ( VP ( VB convey ) ( NP ( DT that ) ( NN information ) ) ) ) ) ) ( CC and ) ( SBAR ( IN that ) ( S ( NP-SBJ-3 ( NNP Mr. ) ( NNP Semel ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( NNP Mr. ) ( NNP Ross ) ) ( VP ( VBD was ) ( ADJP-PRD ( JJ crazy ) ) ( PP-PRP ( IN because ) ( IN of ) ( NP ( DT the ) ( NNP Time ) ( NN deal ) ) ) ) ) ) ( S-ADV-2 ( VP ( NN meaning ) ( PRN ( S ( NP-SBJ ( NNP Mr. ) ( NNP Guber ) ) ( VP ( VBZ says ) ) ) ) ( SBAR ( IN that ) ( S ( NP-SBJ-1 ( NNP Mr. ) ( NNP Ross ) ) ( VP ( VBD did ) ( RB not ) ( VP ( VB want ) ( S ( VP ( TO to ) ( VP ( VB communicate ) ( PP-CLR ( TO to ) ( NP ( NP ( PRP$ his ) ( JJ new ) ( NN merger ) ( NN partner ) ) ( NP ( NNP Time ) ( NNP Inc. ) ) ) ) ( SBAR ( IN that ) ( S ( NP-SBJ ( NP ( NNP Warner ) ( POS 's ) ) ( NNS agreements ) ) ( VP ( VBD provided ) ( PP-CLR ( IN for ) ( NP ( PRP$ our ) ( NN departure ) ) ) ( PP-LOC ( IN under ) ( NP ( DT these ) ( NNS circumstances ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Mr. Guber says that Mr. Semel did convey that information and that Mr. Semel said Mr. Ross was crazy because of the Time deal meaning Mr. Guber says that Mr. Ross did not want to communicate to his new merger partner Time Inc. that Warner 's agreements provided for our departure under these circumstances


( S ( NP-SBJ ( NNP Mr. ) ( NNP Guber ) ) ( ADVP ( RB also ) ) ( VP ( VBZ says ) ( PP-LOC ( IN in ) ( NP ( PRP$ his ) ( NN affidavit ) ) ) ( SBAR ( IN that ) ( S ( NP-SBJ ( NNP Mr. ) ( NNP Daly ) ) ( VP ( VBD told ) ( NP ( PRP us ) ) ( SBAR ( SBAR ( IN that ) ( S ( SBAR-ADV ( RB even ) ( IN if ) ( S ( NP-SBJ ( NNP Sony ) ) ( VP ( VBD did ) ( RB not ) ( VP ( VB want ) ( NP ( PRP us ) ) ) ) ) ) ( NP-SBJ-1 ( NP ( NP ( NNP Warner ) ( POS 's ) ) ( NN relationship ) ) ( PP ( IN with ) ( NP ( PRP us ) ) ) ) ( ADVP-TMP ( RB already ) ) ( VP ( VBD was ) ( VP ( ADVP-MNR ( RB irreparably ) ) ( VBN damaged ) ) ) ) ) ( SBAR ( IN that ) ( S ( NP-SBJ ( EX there ) ) ( VP ( VBD was ) ( NP-PRD ( NP ( DT no ) ( NN way ) ) ( SBAR ( S ( VP ( TO to ) ( VP ( VB put ) ( NP ( DT the ) ( NN egg ) ) ( ADVP-PUT ( RB together ) ) ) ) ) ) ) ) ) ) ( CC and ) ( SBAR ( IN that ) ( S ( NP-SBJ ( PRP it ) ) ( VP ( MD would ) ( VP ( VB sue ) ( NP ( NNP Sony ) ) ( PP ( IN for ) ( NP ( NP ( NNS tons ) ) ( PP ( IN of ) ( NP ( NN money ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Mr. Guber also says in his affidavit that Mr. Daly told us that even if Sony did not want us Warner 's relationship with us already was irreparably damaged that there was no way to put the egg together and that it would sue Sony for tons of money


( S-1 ( ADVP ( RB Moreover ) ) ( PRN ( NP-SBJ ( NNP Mr. ) ( NNP Guber ) ) ( VP ( VBZ claims ) ) ) ( NP-SBJ ( NNP Mr. ) ( NNP Semel ) ) ( VP ( VBD told ) ( NP ( PRP him ) ) ( SBAR ( IN that ) ( S ( NP-SBJ ( NNP Mr. ) ( NNP Ross ) ) ( ADVP ( RB probably ) ) ( VP ( MD would ) ( RB n't ) ( VP ( VB object ) ( SBAR-ADV ( IN if ) ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBD were ) ( NP-PRD ( NP ( NN anybody ) ) ( ADJP ( ADJP ( JJ other ) ) ( PP ( IN than ) ( NP ( NNP Sony ) ) ) ) ) ) ) ) ) ) ) ) ) )

Moreover Mr. Guber claims Mr. Semel told him that Mr. Ross probably would n't object if it were anybody other than Sony


( S ( CC But ) ( NP-SBJ ( NNP Sony ) ) ( VP ( VBZ is ) ( NP-PRD ( DT a ) ( NN problem ) ) ) )

But Sony is a problem


( S ( NP-SBJ ( DT The ) ( NNP Guber-Peters ) ( NN side ) ) ( VP ( VBZ has ) ( VP ( VBN said ) ( SBAR ( S ( NP-SBJ ( NNP Warner ) ) ( VP ( VBZ is ) ( ADVP ( RB particularly ) ) ( VP ( VBN concerned ) ( PP-CLR ( IN about ) ( NP ( NP ( DT the ) ( NN prospect ) ) ( PP ( IN of ) ( NP ( NP ( DT a ) ( JJ huge ) ( JJ Japanese ) ( NN company ) ) ( VP ( VBG controlling ) ( NP ( NP ( JJ important ) ( NNS segments ) ) ( PP ( IN of ) ( NP ( DT the ) ( NNP U.S. ) ( NN entertainment ) ( NN business ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

The Guber-Peters side has said Warner is particularly concerned about the prospect of a huge Japanese company controlling important segments of the U.S. entertainment business


( S ( NP-SBJ ( NP ( DT Some ) ) ( PP-LOC ( IN in ) ( NP ( NNP Hollywood ) ) ) ) ( VP ( VBP suggest ) ( SBAR ( S ( NP-SBJ ( NP ( NNP Mr. ) ( NNP Guber ) ) ( CC and ) ( NP ( NNP Mr. ) ( NNP Peters ) ) ) ( VP ( VBD took ) ( NP ( NP ( NN encouragement ) ) ( PP ( IN from ) ( NP ( NP ( NNP Warner ) ( NN studio ) ( NNS executives ) ) ( PP ( JJ such ) ( IN as ) ( NP ( NP ( NNP Mr. ) ( NNP Semel ) ) ( CC and ) ( NP ( NNP Mr. ) ( NNP Canton ) ) ) ) ) ) ) ( ADVP-MNR ( RB too ) ( RB literally ) ) ) ) ) ) )

Some in Hollywood suggest Mr. Guber and Mr. Peters took encouragement from Warner studio executives such as Mr. Semel and Mr. Canton too literally


( S ( PP ( VBG According ) ( PP ( TO to ) ( NP ( DT this ) ( NN theory ) ) ) ) ( NP-SBJ-2 ( NNP Warner ) ( NNS executives ) ) ( S-ADV ( VP ( VBG hoping ) ( S ( VP ( TO to ) ( VP ( VB strengthen ) ( NP ( NP ( PRP$ their ) ( NNS relationships ) ) ( PP ( IN with ) ( NP ( DT the ) ( NNS producers ) ) ) ) ) ) ) ) ) ( VP ( VBD encouraged ) ( NP ( NP ( NNP Mr. ) ( NNP Guber ) ) ( CC and ) ( NP ( NNP Mr. ) ( NNP Peters ) ) ) ( PP-CLR ( IN in ) ( NP ( PRP$ their ) ( NNS ambitions ) ( S ( VP ( TO to ) ( VP ( VB build ) ( NP ( DT a ) ( JJ major ) ( NN entertainment ) ( NN company ) ) ) ) ) ) ) ) )

According to this theory Warner executives hoping to strengthen their relationships with the producers encouraged Mr. Guber and Mr. Peters in their ambitions to build a major entertainment company


( S ( CC But ) ( NP-SBJ-1 ( DT the ) ( NNP Warner ) ( NNS executives ) ) ( PP-LOC ( IN in ) ( NP ( PRP$ their ) ( NNS affidavits ) ) ) ( VP ( VBP deny ) ( S ( ADVP-TMP ( RB ever ) ) ( VP ( VBG telling ) ( NP ( DT the ) ( NNS producers ) ) ( SBAR ( S ( NP-SBJ ( PRP they ) ) ( VP ( MD could ) ( VP ( VB get ) ( PP-CLR ( IN out ) ( PP ( IN of ) ( NP ( PRP$ their ) ( VBN written ) ( NN contract ) ) ) ) ) ) ) ) ) ) ) )

But the Warner executives in their affidavits deny ever telling the producers they could get out of their written contract


( S ( NP-SBJ ( NP ( NNP Mr. ) ( NNP Rabinowitz ) ) ( NP ( DT the ) ( NNP Warner ) ( NN attorney ) ) ) ( VP ( VBZ says ) ( SBAR ( S ( NP-SBJ ( DT the ) ( NN studio ) ) ( ADVP-TMP ( RB still ) ) ( VP ( VBZ wants ) ( S ( NP-SBJ ( DT the ) ( NNS producers ) ) ( VP ( TO to ) ( VP ( VP ( VB come ) ( ADVP-CLR ( RB back ) ) ) ( CC and ) ( VP ( VB fulfill ) ( NP ( PRP$ their ) ( NN contract ) ) ) ) ) ) ) ) ) ) )

Mr. Rabinowitz the Warner attorney says the studio still wants the producers to come back and fulfill their contract


( S ( S-TPC-2 ( S ( NP-SBJ ( PRP They ) ) ( VP ( VBP are ) ( PP-PRD ( IN like ) ( NP ( DT a ) ( NN mini-studio ) ) ) ) ) ( S ( NP-SBJ ( PRP they ) ) ( VP ( VBP have ) ( NP ( NP ( CD 50 ) ( NNS projects ) ) ) ( PP-CLR ( IN in ) ( NP ( NN development ) ) ) ( PP-1 ( IN for ) ( NP ( NNP Warner ) ) ) ) ) ) ( NP-SBJ ( PRP he ) ) ( VP ( VBZ says ) ) )

They are like a mini-studio they have 50 projects in development for Warner he says


( S ( CC But ) ( NP-SBJ ( NNP Mr. ) ( NNP Guber ) ) ( VP ( VBZ indicates ) ( PP-LOC ( IN in ) ( NP ( PRP$ his ) ( NN affidavit ) ) ) ( SBAR ( IN that ) ( S ( NP-SBJ-1 ( NP ( RB not ) ( DT all ) ) ( PP ( IN of ) ( NP ( DT the ) ( NNS projects ) ) ) ) ( VP ( MD will ) ( VP ( VB be ) ( VP ( VBN used ) ) ) ) ) ) ) )

But Mr. Guber indicates in his affidavit that not all of the projects will be used


( S ( PP ( IN For ) ( NP ( NN example ) ) ) ( NP-SBJ ( PRP he ) ) ( VP ( VBZ says ) ( SBAR ( IN that ) ( S ( S ( PP-TMP ( IN since ) ( NP ( CD 1985 ) ) ) ( NP-SBJ ( NP ( PRP he ) ) ( CC and ) ( NP ( NNP Mr. ) ( NNP Peters ) ) ) ( VP ( VBP have ) ( VP ( VBN developed ) ( NP ( QP ( IN over ) ( CD 85 ) ) ( NN movie ) ( NNS projects ) ) ) ) ) ( CC and ) ( S ( NP-SBJ ( NNP Warner ) ) ( VP ( VBZ has ) ( VP ( VP ( VBN passed ) ) ( CC or ) ( VP ( VBN chosen ) ( S ( RB not ) ( VP ( TO to ) ( VP ( VB produce ) ) ) ) ) ( NP-1 ( QP ( IN at ) ( JJS least ) ( CD 76 ) ) ) ) ) ) ) ) ) )

For example he says that since 1985 he and Mr. Peters have developed over 85 movie projects and Warner has passed or chosen not to produce at least 76


( S-1 ( PP ( IN As ) ( IN for ) ( NP ( NP ( DT the ) ( NNS projects ) ) ( VP ( VBG remaining ) ( PP-LOC-CLR ( IN at ) ( NP ( NNP Warner ) ) ) ) ) ) ( PRN ( S ( NP-SBJ ( NNP Mr. ) ( NNP Guber ) ) ( VP ( VBZ says ) ) ) ) ( NP-SBJ ( NNP Mr. ) ( NNP Semel ) ) ( VP ( VBD informed ) ( NP ( PRP me ) ) ( SBAR ( IN that ) ( S ( NP-SBJ ( NP ( NNP Warner ) ( POS 's ) ) ( NNS producers ) ) ( VP ( VBP have ) ( ADVP-TMP ( RB already ) ) ( VP ( VBN started ) ( NP ( NP ( DT a ) ( NN feeding ) ( NN frenzy ) ) ( PP ( IN for ) ( NP ( PRP$ our ) ( NNS projects ) ) ) ) ) ) ) ) ) )

As for the projects remaining at Warner Mr. Guber says Mr. Semel informed me that Warner 's producers have already started a feeding frenzy for our projects


( S ( NP-SBJ ( NNP Ferro ) ( NNP Corp. ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( PRP it ) ) ( VP ( MD will ) ( VP ( VB buy ) ( ADVP-CLR ( RB back ) ) ( NP ( QP ( RB as ) ( JJ many ) ( IN as ) ( CD one ) ( CD million ) ) ( JJ common ) ( NNS shares ) ) ) ) ) ) ) )

Ferro Corp. said it will buy back as many as one million common shares


( S ( NP-SBJ ( NP ( DT The ) ( NN maker ) ) ( PP ( IN of ) ( NP ( NN chemical ) ( CC and ) ( JJ industrial ) ( NNS materials ) ) ) ) ( VP ( VBD did ) ( RB n't ) ( VP ( VB say ) ( SBAR ( SBAR-NOM ( WHNP-3 ( WRB how ) ( JJ much ) ) ( S ( NP-SBJ ( PRP it ) ) ( VP ( MD would ) ( VP ( VB pay ) ) ) ) ) ( CC or ) ( SBAR ( WHADVP-2 ( WRB when ) ) ( S ( NP-SBJ ( PRP it ) ) ( VP ( MD would ) ( VP ( VB make ) ( NP ( DT the ) ( NNS transactions ) ) ) ) ) ) ) ) ) )

The maker of chemical and industrial materials did n't say how much it would pay or when it would make the transactions


( S ( NP-SBJ ( NNP Ferro ) ) ( ADVP ( RB also ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( PRP it ) ) ( VP ( MD would ) ( VP ( VB cancel ) ( NP ( NP ( DT the ) ( JJ unused ) ( NN portion ) ) ( PP ( IN of ) ( NP ( DT a ) ( CD 1987 ) ( NN buy-back ) ( NN plan ) ) ) ) ( PP-PRP ( IN for ) ( NP ( JJ administrative ) ( NNS reasons ) ) ) ) ) ) ) ) )

Ferro also said it would cancel the unused portion of a 1987 buy-back plan for administrative reasons


( S ( NP-SBJ ( DT The ) ( NN plan ) ) ( VP ( VBZ calls ) ( SBAR-CLR ( IN for ) ( S ( NP-SBJ ( DT the ) ( NN company ) ) ( VP ( TO to ) ( VP ( VB buy ) ( ADVP-CLR ( RB back ) ) ( NP ( CD 2,250,000 ) ( NNS shares ) ) ) ) ) ) ( SBAR-ADV ( WHNP-3 ( WDT which ) ) ( S ( VP ( VBZ reflects ) ( NP ( NP ( DT a ) ( JJ 3-for-2 ) ( NN stock ) ( NN split ) ) ( NP-TMP ( DT this ) ( NN year ) ) ) ) ) ) ) )

The plan calls for the company to buy back 2,250,000 shares which reflects a 3-for-2 stock split this year


( S ( ADVP-TMP ( IN So ) ( RB far ) ) ( NP-SBJ ( DT the ) ( NN company ) ) ( VP ( VBD had ) ( VP ( VBN bought ) ( ADVP-CLR ( RB back ) ) ( NP ( QP ( CD 1.6 ) ( CD million ) ) ( NNS shares ) ) ) ) )

So far the company had bought back 1.6 million shares


( S ( PP-LOC ( IN In ) ( NP ( NNP New ) ( NNP York ) ( NNP Stock ) ( NNP Exchange ) ( JJ composite ) ( NN trading ) ) ) ( NP-TMP ( NNP Friday ) ) ( NP-SBJ ( NNP Ferro ) ) ( VP ( VBD closed ) ( PP-LOC-CLR ( IN at ) ( NP ( CD 25.25 ) ) ) ( ADVP ( RB down ) ( NP ( CD 50 ) ( NNS cents ) ) ) ) )

In New York Stock Exchange composite trading Friday Ferro closed at 25.25 down 50 cents


( S ( S-TPC-2 ( NP-SBJ-1 ( NNP American ) ( NNPS Airlines ) ) ( VP ( MD will ) ( VP ( VB expand ) ( NP ( PRP$ its ) ( JJ trans-Atlantic ) ( NN service ) ) ( NP-EXT ( CD 30 ) ( NN % ) ) ( PP-TMP ( VBG beginning ) ( NP-TMP ( JJ next ) ( NN year ) ) ) ( PP ( IN with ) ( NP ( NP ( CD six ) ( JJ new ) ( JJ daily ) ( NNS flights ) ) ( PP-DIR ( IN between ) ( NP ( NP ( DT the ) ( NNP U.S. ) ) ( CC and ) ( NP ( NNP Europe ) ) ) ) ) ) ) ) ) ( NP-SBJ ( NNS officials ) ) ( VP ( VBD announced ) ( NP-TMP ( NN yesterday ) ) ) )

American Airlines will expand its trans-Atlantic service 30 % beginning next year with six new daily flights between the U.S. and Europe officials announced yesterday


( S ( NP-SBJ ( NP ( NNP American ) ) ( NP ( NP ( DT a ) ( NN unit ) ) ( PP ( IN of ) ( NP ( NNP AMR ) ( NNP Corp. ) ) ) ) ) ( VP ( VBZ is ) ( NP-PRD ( NP ( DT the ) ( NN nation ) ( POS 's ) ) ( JJS largest ) ( NN airline ) ) ) )

American a unit of AMR Corp. is the nation 's largest airline


( S ( S-TPC-2 ( NP-SBJ ( NP ( DT The ) ( JJ new ) ( JJ nonstop ) ( NNS flights ) ) ( VP ( VBG starting ) ( NP-TMP ( JJ next ) ( NNP May ) ) ) ) ( VP ( MD will ) ( VP ( VB include ) ( NP ( NP ( NNP Chicago-Warsaw ) ) ( NP ( NNP Chicago-Helsinki ) ) ( NP ( NNP Miami-Madrid ) ) ( NP ( NNP Dallas-Barcelona ) ) ( NP ( DT a ) ( JJ second ) ( JJ daily ) ( NNP Chicago-Paris ) ( NN flight ) ) ( CC and ) ( NP ( DT a ) ( JJ second ) ( JJ daily ) ( NNP Chicago-Manchester ) ( NN flight ) ) ) ) ) ) ( NP-SBJ ( DT the ) ( NNS officials ) ) ( VP ( VBD said ) ) )

The new nonstop flights starting next May will include Chicago-Warsaw Chicago-Helsinki Miami-Madrid Dallas-Barcelona a second daily Chicago-Paris flight and a second daily Chicago-Manchester flight the officials said


( S ( NP-SBJ ( NNP Chicago ) ) ( VP ( VBZ has ) ( NP ( NP ( DT the ) ( JJS largest ) ( NN population ) ) ( PP ( IN of ) ( NP ( NP ( NNS citizens ) ) ( PP ( IN of ) ( NP ( JJ Polish ) ( NN heritage ) ) ) ) ) ( PP-LOC ( IN in ) ( NP ( NP ( DT any ) ( NN city ) ) ( PP-LOC ( IN outside ) ( NP ( NNP Poland ) ) ) ) ) ) ) )

Chicago has the largest population of citizens of Polish heritage in any city outside Poland


( S ( PP ( IN With ) ( NP ( DT the ) ( JJ new ) ( NN service ) ) ) ( NP-SBJ ( NNP American ) ) ( VP ( MD will ) ( VP ( VB fly ) ( NP ( NP ( CD 161 ) ( NNS flights ) ) ( NP-ADV ( DT a ) ( NN week ) ) ( PP-DIR ( TO to ) ( NP ( CD 17 ) ( JJ European ) ( NNS cities ) ) ) ) ) ) )

With the new service American will fly 161 flights a week to 17 European cities


( S ( NP-SBJ ( DT The ) ( NNS additions ) ) ( VP ( VBP solidify ) ( NP ( NP ( NP ( NNP American ) ( POS 's ) ) ( NN position ) ) ( PP ( IN as ) ( NP ( NP ( DT the ) ( JJ third-largest ) ( NNP U.S. ) ( NN transatlantic ) ( NN carrier ) ) ( PP-LOC ( IN behind ) ( NP ( NP ( NP ( NNP PanAm ) ( NNP Corp. ) ( POS 's ) ) ( NNP Pan ) ( NNP American ) ( NNP World ) ( NNPS Airways ) ) ( CC and ) ( NP ( NNP Trans ) ( NNP World ) ( NNPS Airlines ) ) ) ) ) ) ) ) )

The additions solidify American 's position as the third-largest U.S. transatlantic carrier behind PanAm Corp. 's Pan American World Airways and Trans World Airlines


( S ( NP-SBJ ( NP ( NNP Joseph ) ( NNP P. ) ( NNP Jordan ) ) ( ADJP ( NP-ADV ( CD 52 ) ( NNS years ) ) ( JJ old ) ) ) ( VP ( VBZ becomes ) ( NP-PRD ( NP ( NP ( NN president ) ) ) ( NP ( NP ( NN chief ) ( NN executive ) ( NN officer ) ) ) ( CC and ) ( NP ( NP ( DT a ) ( NN director ) ) ) ( PP-1 ( IN of ) ( NP ( DT the ) ( NN bank ) ( NN company ) ) ) ) ) )

Joseph P. Jordan 52 years old becomes president chief executive officer and a director of the bank company


( S ( NP-SBJ ( NP ( NNP Mr. ) ( NNP Jordan ) ) ( NP ( ADVP-TMP ( RB formerly ) ) ( NP ( NP ( NN president ) ) ) ( CC and ) ( NP ( NP ( NN chief ) ( NN executive ) ) ) ( PP-2 ( IN of ) ( NP ( NP ( NNP Fishkill ) ( NNP National ) ( NNP Bank ) ) ( PP-LOC ( IN in ) ( NP ( NP ( NNP Beacon ) ) ( NP ( NNP N.Y. ) ) ) ) ) ) ) ) ( VP ( VBZ succeeds ) ( NP ( NP ( NNP Donald ) ( NNP Broderick ) ) ( SBAR ( WHNP-1 ( WP who ) ) ( S ( VP ( VBD died ) ( PP ( IN at ) ( NP ( CD 52 ) ) ) ( PP-MNR ( IN in ) ( NP ( DT an ) ( NN automobile ) ( NN accident ) ) ) ) ) ) ) ) )

Mr. Jordan formerly president and chief executive of Fishkill National Bank in Beacon N.Y. succeeds Donald Broderick who died at 52 in an automobile accident


( S ( NP-SBJ ( NNP Arthur ) ( NNP Price ) ) ( VP ( ADVP-MNR ( RB abruptly ) ) ( VBD quit ) ( PP-CLR ( IN as ) ( NP ( NP ( NP ( NN president ) ) ) ( CC and ) ( NP ( NP ( NN chief ) ( JJ executive ) ( NN officer ) ) ) ( PP-2 ( IN of ) ( NP ( NP ( NNP MTM ) ( NNP Entertainment ) ( NNP Inc. ) ) ( NP ( NP ( DT a ) ( NNP Los ) ( NNP Angeles ) ( NN production ) ( NN company ) ) ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( VP ( VBZ has ) ( VP ( VBN fallen ) ( PP-CLR ( IN on ) ( NP ( JJ hard ) ( NNS times ) ) ) ) ) ) ) ) ) ) ) ) ) )

Arthur Price abruptly quit as president and chief executive officer of MTM Entertainment Inc. a Los Angeles production company that has fallen on hard times


( S ( NP-SBJ ( NP ( NNP Mr. ) ( NNP Price ) ) ( ADJP ( NP ( CD 61 ) ( NNS years ) ) ( JJ old ) ) ) ( ADVP ( RB also ) ) ( VP ( VBD stepped ) ( ADVP-DIR ( IN down ) ( PP ( IN from ) ( NP ( NP ( DT the ) ( NN board ) ) ( PP ( IN of ) ( NP ( NP ( NNP TVS ) ( NNP Entertainment ) ( NNP PLC ) ) ( NP ( NP ( DT the ) ( JJ British ) ( NN TV ) ( NN company ) ) ( SBAR ( WHNP-1 ( IN that ) ) ( S ( NP-TMP ( JJ last ) ( NN year ) ) ( VP ( VBD bought ) ( NP ( NP ( NNP MTM ) ) ( NP ( NP ( NN producer ) ) ( PP ( IN of ) ( NP ( NP ( JJ such ) ( NN TV ) ( NNS programs ) ) ( PP ( IN as ) ( NP ( NP-TTL ( NNP Hill ) ( NNP Street ) ( NNP Blues ) ) ( CC and ) ( NP-TTL ( NNP The ) ( NNP Mary ) ( NNP Tyler ) ( NNP Moore ) ( NNP Show ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Mr. Price 61 years old also stepped down from the board of TVS Entertainment PLC the British TV company that last year bought MTM producer of such TV programs as Hill Street Blues and The Mary Tyler Moore Show


( S ( NP-SBJ ( DT A ) ( NNP TVS ) ( NN spokesman ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( PRP he ) ) ( VP ( VBD did ) ( RB n't ) ( VP ( VB know ) ( NP ( NP ( NNP Mr. ) ( NNP Price ) ( POS 's ) ) ( NNS plans ) ) ) ) ) ) ) )

A TVS spokesman said he did n't know Mr. Price 's plans


( S ( NP-SBJ ( NP ( NNP James ) ( NNP Gatward ) ) ( NP ( NP ( NNP TVS ) ( POS 's ) ) ( NN chief ) ( NN executive ) ) ) ( VP ( VBD said ) ( PP-LOC ( IN in ) ( NP ( DT a ) ( NN statement ) ) ) ( SBAR ( IN that ) ( S ( NP-SBJ ( PRP he ) ) ( VP ( MD will ) ( VP ( VB assume ) ( NP ( NP ( JJ overall ) ( NN responsibility ) ) ( PP ( IN for ) ( NP ( NP ( NNP MTM ) ( POS 's ) ) ( NNS operations ) ) ) ) ( SBAR-TMP ( IN until ) ( S ( NP-SBJ-1 ( DT a ) ( NN successor ) ) ( VP ( VBZ is ) ( VP ( VBN named ) ) ) ) ) ) ) ) ) ) )

James Gatward TVS 's chief executive said in a statement that he will assume overall responsibility for MTM 's operations until a successor is named


( S ( NP-SBJ ( NN Industry ) ( NNS analysts ) ) ( VP ( VBD speculated ) ( SBAR ( IN that ) ( S ( NP-SBJ ( NP ( NNP Mr. ) ( NNP Price ) ( POS 's ) ) ( JJ sudden ) ( NN departure ) ) ( VP ( MD may ) ( VP ( VB have ) ( VP ( VBN stemmed ) ( PP-CLR ( IN from ) ( NP ( NP ( NNS conflicts ) ) ( PP ( IN with ) ( NP ( NNP Mr. ) ( NNP Gatward ) ) ) ) ) ) ) ) ) ) ) )

Industry analysts speculated that Mr. Price 's sudden departure may have stemmed from conflicts with Mr. Gatward


( SINV ( S-TPC-2 ( NP-SBJ-1 ( NNP Mr. ) ( NNP Price ) ) ( VP ( VP ( VBD wanted ) ( S ( VP ( TO to ) ( VP ( VB run ) ( NP ( DT the ) ( NNP MTM ) ( NN business ) ) ) ) ) ) ( CC and ) ( VP ( MD may ) ( VP ( VB have ) ( VP ( VBN regretted ) ( S ( VP ( VBG selling ) ( NP ( DT the ) ( NN company ) ) ( PP-CLR ( TO to ) ( NP ( NNP TVS ) ) ) ) ) ) ) ) ) ) ( VP ( VBD suggested ) ) ( NP-SBJ ( NP ( NNP Charles ) ( NNP Denton ) ) ( NP ( NP ( VBG managing ) ( NN director ) ) ( PP ( IN of ) ( NP ( NP ( NNP Zenith ) ( NNPS Productions ) ) ( NP ( NP ( DT a ) ( NN subsidiary ) ) ( PP ( IN of ) ( NP ( NP ( NNP Carlton ) ( NNP Communications ) ( NNP PLC ) ) ( NP-LOC ( NNP London ) ) ) ) ) ) ) ) ) )

Mr. Price wanted to run the MTM business and may have regretted selling the company to TVS suggested Charles Denton managing director of Zenith Productions a subsidiary of Carlton Communications PLC London


( S ( S ( NP-SBJ-2 ( NNP Mr. ) ( NNP Gatward ) ) ( VP ( VBD declined ) ( S ( VP ( TO to ) ( VP ( VB comment ) ) ) ) ) ) ( CC and ) ( S ( NP-SBJ-1 ( NNP Mr. ) ( NNP Price ) ) ( VP ( MD could ) ( RB n't ) ( VP ( VB be ) ( VP ( VBN reached ) ( PP-TMP ( IN on ) ( NP ( NNP Friday ) ) ) ) ) ) ) )

Mr. Gatward declined to comment and Mr. Price could n't be reached on Friday


( S ( PP-LOC ( IN In ) ( NP ( DT the ) ( NNP TVS ) ( NN statement ) ) ) ( NP-SBJ ( NNP Mr. ) ( NNP Price ) ) ( VP ( VP ( VBD said ) ( SBAR ( S ( S-NOM-SBJ ( VP ( VBG leaving ) ( NP ( NNP MTM ) ) ) ) ( VP ( VBD was ) ( NP-PRD ( DT a ) ( ADJP ( RB very ) ( JJ difficult ) ) ( NN decision ) ) ) ) ) ) ( CC but ) ( VP ( VBD added ) ( SBAR ( IN that ) ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBZ is ) ( ADVP-TMP ( RB now ) ) ( NP-PRD ( NP ( NN time ) ) ( PP ( IN for ) ( NP ( DT a ) ( NN change ) ) ) ) ) ) ) ) ) )

In the TVS statement Mr. Price said leaving MTM was a very difficult decision but added that it is now time for a change


( S ( NP-SBJ ( NP ( DT The ) ( ADJP ( QP ( CD 320 ) ( CD million ) ) ) ( NN purchase ) ) ( PP ( IN of ) ( NP ( NNP MTM ) ) ) ) ( VP ( VBD represented ) ( NP ( NP ( DT an ) ( JJ audacious ) ( JJ international ) ( NN move ) ) ( PP ( IN for ) ( NP ( NP ( NNP TVS ) ) ( SBAR ( WHNP-1 ( WDT which ) ) ( S ( ADVP-TMP ( RB then ) ) ( VP ( VBD was ) ( NP-PRD ( QP ( IN about ) ( PDT half ) ) ( NP ( DT the ) ( NNP U.S. ) ( NN concern ) ( POS 's ) ) ( NN size ) ) ) ) ) ) ) ) ) )

The 320 million purchase of MTM represented an audacious international move for TVS which then was about half the U.S. concern 's size


( S ( PP-TMP ( IN At ) ( NP ( DT the ) ( NN time ) ) ) ( NP-SBJ ( NNP Mr. ) ( NNP Gatward ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( NP ( PRP$ his ) ( NN friendship ) ) ( PP ( IN with ) ( NP ( NNP Mr. ) ( NNP Price ) ) ) ) ( VP ( VBD had ) ( VP ( VBN smoothed ) ( NP ( NP ( DT the ) ( NN way ) ) ( PP ( IN for ) ( NP ( NP ( PRP$ its ) ( NN link ) ) ( PP ( IN with ) ( NP ( DT the ) ( JJ small ) ( JJ British ) ( NN company ) ) ) ) ) ) ) ) ) ) ) )

At the time Mr. Gatward said his friendship with Mr. Price had smoothed the way for its link with the small British company


( S ( CC But ) ( NP-SBJ-1 ( NNP TVS ) ) ( VP ( VBD stunned ) ( NP ( NN industry ) ( NNS analysts ) ) ( NP-TMP ( JJ last ) ( NN month ) ) ( PP-MNR ( IN by ) ( S-NOM ( VP ( VBG disclosing ) ( SBAR ( IN that ) ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBD expected ) ( S ( NP-SBJ ( NNP MTM ) ) ( VP ( TO to ) ( VP ( VB post ) ( NP ( NP ( DT an ) ( NN operating ) ( NN loss ) ) ( PP ( IN for ) ( NP ( DT this ) ( NN year ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

But TVS stunned industry analysts last month by disclosing that it expected MTM to post an operating loss for this year


( S ( PP-LOC ( IN In ) ( NP ( DT that ) ( NN announcement ) ) ) ( NP-SBJ ( NNP TVS ) ) ( ADVP ( RB also ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBD was ) ( VP ( VP ( VBG trimming ) ( NP ( NN production ) ( NN finance ) ) ) ( CC and ) ( VP ( VBG hiring ) ( NP ( DT a ) ( JJ new ) ( NNP U.S. ) ( NNS sales ) ( NN manager ) ) ) ) ) ) ) ) )

In that announcement TVS also said it was trimming production finance and hiring a new U.S. sales manager


( S ( S ( NP-SBJ ( NNP Mr. ) ( NNP Gatward ) ) ( VP ( VBZ has ) ( VP ( VBN spent ) ( NP ( NP ( DT a ) ( NN lot ) ) ( PP ( IN of ) ( NP ( NN time ) ) ) ) ( PP-TMP ( IN since ) ( NP ( JJ late ) ( NNP September ) ) ) ( PP-LOC ( IN at ) ( NP ( NP ( NNP MTM ) ( POS 's ) ) ( NN headquarters ) ) ) ) ) ) ( S ( NP-SBJ ( PRP he ) ) ( VP ( VP ( VBD eliminated ) ( NP ( CD three ) ( NNS departments ) ) ) ( CC and ) ( VP ( VBD fired ) ( NP ( CD six ) ( NNS executives ) ) ) ( PP ( VBG according ) ( PP ( TO to ) ( NP ( DT the ) ( NNP TVS ) ( NN spokesman ) ) ) ) ) ) )

Mr. Gatward has spent a lot of time since late September at MTM 's headquarters he eliminated three departments and fired six executives according to the TVS spokesman


( S ( S-TPC-1 ( NP-SBJ ( JJ Further ) ( NN staff ) ( NNS cuts ) ) ( VP ( VBP are ) ( ADJP-PRD ( JJ likely ) ) ) ) ( NP-SBJ ( DT the ) ( NN spokesman ) ) ( VP ( VBD indicated ) ) )

Further staff cuts are likely the spokesman indicated


( S ( ADVP ( RB Obviously ) ) ( NP-SBJ ( PRP we ) ) ( VP ( VBP are ) ( VP ( VBG looking ) ( PP-CLR ( IN at ) ( S-NOM ( VP ( VBG making ) ( NP ( NNS economies ) ) ( ADVP-LOC ( IN across ) ( NP ( DT the ) ( NN board ) ) ) ) ) ) ) ) )

Obviously we are looking at making economies across the board


( S ( NP-SBJ ( NNP TVS ) ) ( VP ( VBZ blames ) ( NP ( NP ( NNS difficulties ) ) ( PP ( IN in ) ( S-NOM ( VP ( JJ peddling ) ( NP ( NP ( NNS reruns ) ) ( PP ( IN of ) ( NP ( NNP MTM ) ( NNS shows ) ) ) ) ( PP-CLR ( TO to ) ( NP ( NNP U.S. ) ( NNS broadcasters ) ) ) ) ) ) ) ( PP-CLR ( IN for ) ( NP ( NP ( DT the ) ( NNS problems ) ) ( PP-LOC ( IN at ) ( NP ( NNP MTM ) ) ) ) ) ) )

TVS blames difficulties in peddling reruns of MTM shows to U.S. broadcasters for the problems at MTM


( S ( NP-SBJ ( NP ( DT The ) ( NN market ) ) ( PP ( IN for ) ( NP ( NP ( NNS reruns ) ) ( VP ( VBN sold ) ( PP-CLR ( TO to ) ( NP ( JJ local ) ( NNP U.S. ) ( NNS broadcasters ) ) ) ) ) ) ) ( VP ( VBZ has ) ( VP ( VBN been ) ( ADJP-PRD ( JJ weak ) ) ( PP-TMP ( IN for ) ( NP ( DT the ) ( JJ past ) ( QP ( CD three ) ( CC or ) ( CD four ) ) ( NNS seasons ) ) ) ) ) )

The market for reruns sold to local U.S. broadcasters has been weak for the past three or four seasons


( S ( NP-SBJ ( NNP Mr. ) ( NNP Price ) ) ( VP ( VBD co-founded ) ( NP ( NNP MTM ) ) ( PP-TMP ( IN in ) ( NP ( CD 1969 ) ) ) ( PP ( IN with ) ( NP ( NP ( NNP U.S. ) ( NN actress ) ( NNP Mary ) ( NNP Tyler ) ( NNP Moore ) ) ( CC and ) ( NP ( NP ( NNP Grant ) ( NNP Tinker ) ) ( NP ( PRP$ her ) ( NN then-husband ) ) ) ) ) ) )

Mr. Price co-founded MTM in 1969 with U.S. actress Mary Tyler Moore and Grant Tinker her then-husband


( S ( NP-SBJ-1 ( NNP Mr. ) ( NNP Tinker ) ) ( ADVP-TMP ( RB later ) ) ( VP ( VBD left ) ( S-PRP ( VP ( TO to ) ( VP ( VB become ) ( NP-PRD ( NP ( NN chairman ) ) ( PP ( IN of ) ( NP ( NNP National ) ( NNP Broadcasting ) ( NNP Co ) ) ) ) ) ) ) ) )

Mr. Tinker later left to become chairman of National Broadcasting Co


( S ( NP-SBJ ( DT The ) ( NNP TVS ) ( NN spokesman ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( NNP Mr. ) ( NNP Price ) ) ( ADVP-TMP ( RB still ) ) ( VP ( VBZ holds ) ( NP ( NP ( IN about ) ( DT an ) ( ADJP ( CD 8 ) ( NN % ) ) ( NNP TVS ) ( NN stake ) ) ( VP ( VBD acquired ) ( PP-CLR ( IN as ) ( NP ( NP ( NN part ) ) ( PP ( IN of ) ( NP ( DT the ) ( NNP MTM ) ( NN acquisition ) ) ) ) ) ) ) ) ) ) ) )

The TVS spokesman said Mr. Price still holds about an 8 % TVS stake acquired as part of the MTM acquisition


( S ( PP-LOC ( IN In ) ( NP ( RB late ) ( NN trading ) ) ) ( PP-LOC ( IN on ) ( NP ( NP ( NNP London ) ( POS 's ) ) ( NNP Stock ) ( NNP Exchange ) ) ) ( NP-TMP ( NNP Friday ) ) ( NP-SBJ ( NNP TVS ) ( NNS shares ) ) ( VP ( VBD rose ) ( NP-EXT ( CD four ) ( NN pence ) ) ( PP-DIR ( TO to ) ( NP ( NP ( CD 195 ) ( NN pence ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ) )

In late trading on London 's Stock Exchange Friday TVS shares rose four pence to 195 pence a share


( S ( NP-SBJ-1 ( NP ( NNP Joseph ) ( NNP L. ) ( NNP Dionne ) ) ( NP ( NP ( NP ( NN chairman ) ) ) ( CC and ) ( NP ( NP ( NN chief ) ( JJ executive ) ( NN officer ) ) ) ( PP-2 ( IN of ) ( NP ( NNP McGraw-Hill ) ( NNP Inc. ) ) ) ) ) ( VP ( VBD was ) ( VP ( VBN elected ) ( PP-CLR ( TO to ) ( NP ( NP ( DT the ) ( NN board ) ) ( PP ( IN of ) ( NP ( NP ( NNS directors ) ) ( PP ( IN of ) ( NP ( DT this ) ( NNS electronics ) ( NN manufacturer ) ) ) ) ) ) ) ) ) )

Joseph L. Dionne chairman and chief executive officer of McGraw-Hill Inc. was elected to the board of directors of this electronics manufacturer


( S ( NP-SBJ ( PRP He ) ) ( VP ( VBZ succeeds ) ( NP ( DT the ) ( VBG retiring ) ( NNP James ) ( NNP W. ) ( NNP Wilcock ) ) ) )

He succeeds the retiring James W. Wilcock


( S ( NP-SBJ-1 ( NP ( NNP Douglas ) ( NNP H. ) ( NNP Miller ) ) ( ADJP ( JJ self-employed ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( NN oil ) ( CC and ) ( NN gas ) ( NNS securities ) ( NN business ) ) ) ) ) ( VP ( VBD was ) ( VP ( VBN named ) ( S ( NP-PRD ( NP ( NN chairman ) ) ( PP ( IN of ) ( NP ( DT this ) ( NN oil ) ( CC and ) ( NN gas ) ( NN exploration ) ( NN company ) ) ) ) ) ( S-ADV ( VP ( VBG filling ) ( NP ( DT a ) ( NN vacancy ) ) ) ) ) ) )

Douglas H. Miller self-employed in the oil and gas securities business was named chairman of this oil and gas exploration company filling a vacancy


( S ( NP-SBJ-1 ( NP ( NNP Mr. ) ( NNP Miller ) ) ( SBAR ( WHNP-2 ( WP who ) ) ( S ( VP ( VBZ has ) ( VP ( VBN been ) ( NP-PRD ( DT a ) ( NNP Coda ) ( NN director ) ) ) ) ) ) ) ( ADVP ( RB also ) ) ( VP ( VBD was ) ( VP ( VBN named ) ( S ( NP-PRD ( NN chief ) ( NN executive ) ( NN officer ) ) ) ( S-ADV ( VP ( VBG succeeding ) ( NP ( NP ( NNP Ted ) ( NNP Eubank ) ) ( SBAR ( WHNP-3 ( WP who ) ) ( S ( VP ( VBZ remains ) ( NP-PRD ( NP ( NN president ) ) ( CC and ) ( NP ( NN chief ) ( VBG operating ) ( NN officer ) ) ) ) ) ) ) ) ) ) ) )

Mr. Miller who has been a Coda director also was named chief executive officer succeeding Ted Eubank who remains president and chief operating officer


( SINV ( S-TPC-2 ( NP-SBJ ( DT The ) ( JJ Canadian ) ( NN pig ) ( NN herd ) ) ( VP ( VBD totaled ) ( NP ( NP ( CD 10,674,500 ) ) ) ( PP-TMP ( IN at ) ( NP ( NNP Oct. ) ( CD 1 ) ) ) ( ADVP ( RB down ) ( NP ( CD 3 ) ( NN % ) ) ( PP ( IN from ) ( NP-TMP ( DT a ) ( NN year ) ( RBR earlier ) ) ) ) ) ) ( VP ( VBD said ) ) ( NP-SBJ ( NP ( NNPS Statistics ) ( NNP Canada ) ) ( NP ( DT a ) ( JJ federal ) ( NN agency ) ) ) )

The Canadian pig herd totaled 10,674,500 at Oct. 1 down 3 % from a year earlier said Statistics Canada a federal agency


( S ( NP-SBJ ( NP ( NP ( NNS Sows ) ) ( PP ( IN for ) ( NP ( VBG breeding ) ) ) ) ( CC and ) ( NP ( VBN bred ) ( NNS gilts ) ) ) ( VP ( VBD totaled ) ( NP ( NP ( CD 1,070,000 ) ) ( ADVP ( RB down ) ( NP ( CD 2 ) ( NN % ) ) ( PP ( IN from ) ( NP-TMP ( DT a ) ( NN year ) ( IN ago ) ) ) ) ) ) )

Sows for breeding and bred gilts totaled 1,070,000 down 2 % from a year ago


( S ( PRN ( NP-HLN ( NP ( NNP Jacksonville ) ) ( NP ( NNP Fla. ) ) ) ) ( NP-SBJ ( NP ( NNP Charles ) ( NNP Bates ) ) ( NP ( NP ( NN president ) ) ( NP ( NN chief ) ( NN executive ) ) ( CC and ) ( NP ( NN chief ) ( VBG operating ) ( NN officer ) ) ) ) ( VP ( MD will ) ( VP ( VB resign ) ( PP-CLR ( IN from ) ( NP ( NP ( DT these ) ( NNS positions ) ) ( CC and ) ( NP ( DT the ) ( NN board ) ) ) ) ( ADJP-ADV ( JJ effective ) ( NP-TMP ( NNP Oct. ) ( CD 31 ) ) ) ) ) )

Jacksonville Fla. Charles Bates president chief executive and chief operating officer will resign from these positions and the board effective Oct. 31


( S ( NP-SBJ ( NP ( NNP Norman ) ( NNP J. ) ( NNP Harrison ) ) ( NP ( NN chairman ) ) ) ( VP ( MD will ) ( VP ( VB succeed ) ( NP ( PRP him ) ) ( PP-CLR ( RB as ) ( NP ( NN chief ) ( NN executive ) ) ) ) ) )

Norman J. Harrison chairman will succeed him as chief executive


( S ( NP-SBJ-1 ( NP ( NNP Roger ) ( NNP L. ) ( NNP Sutton ) ) ( NP ( JJ executive ) ( NN vice ) ( NN president ) ) ) ( VP ( VBD was ) ( VP ( VBN appointed ) ( PP-CLR ( IN as ) ( NP ( DT the ) ( JJ new ) ( NX ( NX ( NN president ) ) ( CC and ) ( NX ( NN chief ) ( VBG operating ) ( NN officer ) ) ) ) ) ) ) )

Roger L. Sutton executive vice president was appointed as the new president and chief operating officer


( S ( NP-SBJ ( NNP Kerry ) ( NNP P. ) ( NNP Charlet ) ) ( VP ( MD will ) ( VP ( VP ( VB become ) ( NP-PRD ( JJ executive ) ( NN vice ) ( NN president ) ) ) ( CC and ) ( VP ( VB retain ) ( NP ( NP ( PRP$ his ) ( NNS positions ) ) ( PP ( IN as ) ( NP ( NP ( NN chief ) ( JJ financial ) ( NN officer ) ) ( CC and ) ( NP ( NN treasurer ) ) ) ) ) ) ) ) )

Kerry P. Charlet will become executive vice president and retain his positions as chief financial officer and treasurer


( S ( NP-SBJ ( DT The ) ( ADJP ( RB closely ) ( VBN held ) ) ( NN supermarket ) ( NN chain ) ) ( VP ( VBD named ) ( S ( NP-SBJ ( NNP Frank ) ( NNP Nicastro ) ) ( NP-PRD ( NP ( NN vice ) ( NN president ) ) ( CC and ) ( NP ( NN treasurer ) ) ) ) ) )

The closely held supermarket chain named Frank Nicastro vice president and treasurer


( S ( NP-SBJ ( DT The ) ( JJ 47-year-old ) ( NNP Mr. ) ( NNP Nicastro ) ) ( VP ( VBZ joins ) ( NP ( NNP Grand ) ( NNP Union ) ) ( PP ( IN from ) ( NP ( NP ( NNP Singer ) ( NNP Co. ) ) ( SBAR-LOC ( WHADVP-1 ( WRB where ) ) ( S ( NP-SBJ ( PRP he ) ) ( VP ( VBD was ) ( NP-PRD ( NN treasurer ) ) ) ) ) ) ) ) )

The 47-year-old Mr. Nicastro joins Grand Union from Singer Co. where he was treasurer


( S ( NP-SBJ ( NP ( NP ( NP ( NNP John ) ( NNP Lehman ) ( POS 's ) ) ( JJ editorial-page ) ( NN article ) ) ( PP ( IN on ) ( NP ( NP ( DT the ) ( NNP Pentagon ) ) ( PP ( IN as ) ( NP ( DT a ) ( VBN haunted ) ( NN house ) ) ) ) ) ) ) ( VP ( VBZ omits ) ( NP ( NP ( DT the ) ( JJ real ) ( NNS roots ) ) ( PP ( IN of ) ( NP ( PRP$ its ) ( NN ghost ) ( NN population ) ) ) ) ( PRN ( S-TTL-1 ( PP-LOC ( IN In ) ( NP ( DT the ) ( NNP Pentagon ) ) ) ( NP-SBJ ( DT the ) ( NN Undead ) ) ( VP ( VBP Walk ) ) ) ( NP-TMP-2 ( NNP Oct. ) ( CD 18 ) ) ) ) )

John Lehman 's editorial-page article on the Pentagon as a haunted house omits the real roots of its ghost population In the Pentagon the Undead Walk Oct. 18


( S ( NP-SBJ-2 ( NP ( NP ( NP ( DT The ) ( NNS media ) ( POS 's ) ) ( NN treatment ) ) ( PP ( IN of ) ( NP ( DT the ) ( NNP Defense ) ( NNP Department ) ) ) ( PP-TMP ( IN during ) ( NP ( DT the ) ( NNP Vietnam ) ( NNP War ) ) ) ) ( NP ( NP ( NP ( DT the ) ( NNP Carter ) ( NN administration ) ( POS 's ) ) ( NN denigration ) ) ( PP ( IN of ) ( NP ( DT the ) ( JJ military ) ) ) ) ( CC and ) ( NP ( NP ( DT the ) ( NN public ) ( NN scapegoating ) ) ( PP ( IN of ) ( NP ( NNP Lt. ) ( NNP Col. ) ( NNP Oliver ) ( NNP North ) ) ) ) ) ( VP ( VBP have ) ( DT all ) ( VP ( VBD served ) ( S ( VP ( TO to ) ( VP ( VB emasculate ) ( NP ( NP ( DT the ) ( JJ poor ) ( NNS souls ) ) ( SBAR ( WHNP-1 ( WP who ) ) ( S ( VP ( VBP live ) ( ADVP-LOC ( RB there ) ) ) ) ) ) ) ) ) ) ) )

The media 's treatment of the Defense Department during the Vietnam War the Carter administration 's denigration of the military and the public scapegoating of Lt. Col. Oliver North have all served to emasculate the poor souls who live there


( S ( S ( NP-SBJ-1 ( DT The ) ( VBG resulting ) ( VBN haunted ) ( NN house ) ) ( VP ( VBZ tends ) ( S ( VP ( TO to ) ( VP ( VB reward ) ( NP ( NN followership ) ( RB not ) ( NN leadership ) ) ) ) ) ) ) ( S ( NP-SBJ ( PRP it ) ) ( VP ( VP ( VBZ creates ) ( NP ( NP ( NN guilt ) ) ( PP ( IN about ) ( S-NOM ( VP ( VBG wearing ) ( NP ( DT the ) ( NN uniform ) ) ) ) ) ) ) ( CC and ) ( VP ( VBZ raises ) ( NP ( NP ( NN doubt ) ) ( PP ( IN about ) ( S-NOM ( VP ( VBG having ) ( NP ( DT the ) ( NN will ) ( S ( S ( VP ( TO to ) ( VP-4 ( VB fulfill ) ( NP ( NP ( NP ( DT the ) ( NNS ghosts ) ( POS ' ) ) ( NN role ) ) ) ) ) ) ( FW i.e. ) ( S ( VP ( TO to ) ( VP ( VB be ) ( ADJP-PRD ( JJ able ) ( S ( VP ( TO to ) ( VP ( VB win ) ( SBAR-ADV ( IN if ) ( S ( VP ( VBN called ) ( PP-CLR ( IN on ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

The resulting haunted house tends to reward followership not leadership it creates guilt about wearing the uniform and raises doubt about having the will to fulfill the ghosts ' role i.e. to be able to win if called on


( S ( ADVP ( RB Perhaps ) ) ( NP-SBJ ( DT the ) ( NNP Halloween ) ( NN season ) ) ( VP ( VBZ is ) ( NP-PRD ( NP ( DT a ) ( JJ good ) ( NN time ) ) ( PP ( IN for ) ( S-NOM ( NP-SBJ ( NNP Congress ) ) ( VP ( TO to ) ( VP ( VB be ) ( VP ( VBG looking ) ( PP-CLR ( IN at ) ( NP ( NP ( NN funding ) ) ( PP ( IN for ) ( NP ( DT some ) ( NN ghostbusting ) ( NN equipment ) ) ) ) ) ) ) ) ) ) ) ) )

Perhaps the Halloween season is a good time for Congress to be looking at funding for some ghostbusting equipment


( NP ( NP ( NNP Mike ) ( NNP Greece ) ) ( NP ( NNP Former ) ( NNP Air ) ( NNP Force ) ( NNP Career ) ( NNP Officer ) ) ( NP-LOC ( NNP New ) ( NNP York ) ) )

Mike Greece Former Air Force Career Officer New York


( SBARQ ( WHADVP-2 ( WRB Where ) ) ( SQ ( VBZ does ) ( NP-SBJ-1 ( NNP Mr. ) ( NNP Lehman ) ) ( VP ( VB get ) ( PRT ( RP off ) ) ( S ( VP ( VBG castigating ) ( NP-3 ( NNP Gen. ) ( NNP George ) ( NNP Marshall ) ) ( PP-PRP ( IN for ) ( S-NOM ( VP ( VBG muscling ) ( PRT ( RP in ) ) ( PP-CLR ( IN on ) ( NP ( JJ naval ) ( NNS prerogatives ) ) ) ) ) ) ) ) ) ) )

Where does Mr. Lehman get off castigating Gen. George Marshall for muscling in on naval prerogatives


( S ( PP-TMP ( RB Ever ) ( IN since ) ( NP ( NP ( DT the ) ( NNS days ) ) ( PP ( IN of ) ( NP ( NP ( NP ( NNP Alfred ) ( NNP Thayer ) ( NNP Mahan ) ) ( PRN ( NP ( NP ( NNP U.S. ) ( JJ naval ) ( NN officer ) ) ( CC and ) ( NP ( JJ naval ) ( NN historian ) ) ) ) ) ( CC and ) ( NP ( NNP Teddy ) ( NNP Roosevelt ) ) ) ) ) ) ( NP-SBJ ( DT the ) ( NNP Navy ) ) ( VP ( VBZ has ) ( VP ( VBN been ) ( NP-PRD ( NP ( DT the ) ( NN service ) ) ( VP ( ADVP ( RBS most ) ) ( VBN favored ) ( PP ( IN by ) ( NP-LGS ( NNP Washington ) ( NN officialdom ) ) ) ) ) ) ) )

Ever since the days of Alfred Thayer Mahan U.S. naval officer and naval historian and Teddy Roosevelt the Navy has been the service most favored by Washington officialdom


( S ( NP-SBJ ( NNP Mr. ) ( NNP Lehman ) ) ( VP ( VBZ overlooks ) ( NP ( DT the ) ( NN fact ) ( SBAR ( IN that ) ( S ( NP-SBJ ( DT the ) ( NNP Navy ) ) ( VP ( VBZ possesses ) ( NP ( NP ( NP ( PRP$ its ) ( JJ own ) ( NN air ) ( NN force ) ) ( PRN ( NP ( DT the ) ( NN carrier ) ( NN fleet ) ) ) ) ( CC and ) ( NP ( NP ( PRP$ its ) ( JJ own ) ( NN army ) ) ( PRN ( NP ( DT the ) ( NNPS Marines ) ) ) ( SBAR ( WHNP-1 ( WDT which ) ) ( S ( PP ( IN in ) ( NP ( NN turn ) ) ) ( VP ( VBZ has ) ( NP ( PRP$ its ) ( JJ own ) ( NN air ) ( NN force ) ) ) ) ) ) ) ) ) ) ) ) )

Mr. Lehman overlooks the fact that the Navy possesses its own air force the carrier fleet and its own army the Marines which in turn has its own air force


( S ( S ( PP ( IN Of ) ( NP ( NN course ) ) ) ( NP-SBJ-2 ( DT these ) ( JJ turf ) ( NNS battles ) ) ( VP ( VP ( VBP are ) ( ADJP-PRD ( ADJP ( JJ unseemly ) ) ( ADJP ( JJ wasteful ) ) ( CC and ) ( ADJP ( RB potentially ) ( JJ dangerous ) ) ) ) ( CC and ) ( VP ( MD should ) ( VP ( VB be ) ( VP ( VBN resolved ) ( PP-MNR ( IN in ) ( NP ( NP ( DT the ) ( NN interest ) ) ( PP ( IN of ) ( NP ( JJ national ) ( NN security ) ) ) ) ) ) ) ) ) ) ( CC but ) ( S ( NP-SBJ-1 ( NNP Mr. ) ( NNP Lehman ) ) ( VP ( VBZ seems ) ( S ( VP ( TO to ) ( VP ( VB be ) ( NP-PRD ( NP ( NP ( NN part ) ) ( PP ( IN of ) ( NP ( DT the ) ( NN problem ) ) ) ) ( CONJP ( RB rather ) ( IN than ) ) ( NP ( NP ( NN part ) ) ( PP ( IN of ) ( NP ( DT the ) ( NN answer ) ) ) ) ) ) ) ) ) ) )

Of course these turf battles are unseemly wasteful and potentially dangerous and should be resolved in the interest of national security but Mr. Lehman seems to be part of the problem rather than part of the answer


( NP ( NP ( NNP L.H. ) ( NNP Blum ) ) ( NP-LOC ( NP ( NNP Beaumont ) ) ( NP ( NNP Texas ) ) ) )

L.H. Blum Beaumont Texas


( S ( NP-SBJ ( PRP I ) ) ( VP ( VBP agree ) ( PP-CLR ( IN with ) ( NP ( NNP Mr. ) ( NNP Lehman ) ) ) ( NP-ADV ( CD 100 ) ( NN % ) ) ) )

I agree with Mr. Lehman 100 %


( SQ ( VBZ Is ) ( RB n't ) ( NP-SBJ ( DT this ) ) ( NP-PRD ( NP ( DT the ) ( JJ same ) ( NN guy ) ) ( SBAR ( WHNP-1 ( WP who ) ) ( S ( VP ( VBD resigned ) ( PP-CLR ( IN as ) ( NP ( NNP Navy ) ( NN secretary ) ) ) ( SBAR-PRP ( IN because ) ( S ( NP-SBJ ( PRP he ) ) ( VP ( MD could ) ( RB n't ) ( VP ( VB get ) ( NP ( PRP$ his ) ( JJ 1,000-ship ) ( NNP Navy ) ) ) ) ) ) ) ) ) ) )

Is n't this the same guy who resigned as Navy secretary because he could n't get his 1,000-ship Navy


( S ( S ( NP-SBJ-1 ( NP ( PRP I ) ) ( ADVP ( RB personally ) ) ) ( VP ( VBP do ) ( RB not ) ( VP ( VB want ) ( S ( VP ( TO to ) ( VP ( VB hasten ) ( NP ( NP ( NNP Mr. ) ( NNP Lehman ) ( POS 's ) ) ( NN demise ) ) ) ) ) ) ) ) ( CC but ) ( S ( NP-SBJ ( PRP I ) ) ( VP ( MD can ) ( VP ( VB see ) ( S ( NP-SBJ ( PRP him ) ) ( VP ( VBG figuring ) ( ADVP-MNR ( RB prominently ) ) ( PP-LOC-CLR ( IN in ) ( NP ( PRP$ his ) ( JJ own ) ( NN article ) ) ) ) ) ) ) ) )

I personally do not want to hasten Mr. Lehman 's demise but I can see him figuring prominently in his own article


( NP ( NP ( NNP Carl ) ( NNP Banerian ) ( NNP Jr ) ) ( NP-LOC ( NP ( NNP Birmingham ) ) ( NP ( NNP Mich ) ) ) )

Carl Banerian Jr Birmingham Mich


( S ( PP-TMP ( IN For ) ( NP ( NP ( DT the ) ( JJ sixth ) ( NN time ) ) ( PP-TMP ( IN in ) ( NP ( ADJP ( RB as ) ( JJ many ) ) ( NNS years ) ) ) ) ) ( NP-SBJ ( NNP Continental ) ( NNPS Airlines ) ) ( VP ( VBZ has ) ( NP ( DT a ) ( JJ new ) ( JJ senior ) ( NN executive ) ) ) )

For the sixth time in as many years Continental Airlines has a new senior executive


( SINV ( ADJP-PRD-TPC-1 ( VBN Gone ) ) ( VP ( VBZ is ) ) ( NP-SBJ ( NP ( NNP D. ) ( NNP Joseph ) ( NNP Corr ) ) ( NP ( NP ( DT the ) ( NN airline ) ( POS 's ) ) ( NX ( NX ( NN chairman ) ) ( NX ( NN chief ) ( NN executive ) ) ( CC and ) ( NX ( NN president ) ) ) ) ( VP ( VBN appointed ) ( NP-TMP ( ADVP ( RB only ) ) ( JJ last ) ( NNP December ) ) ) ) )

Gone is D. Joseph Corr the airline 's chairman chief executive and president appointed only last December


( S ( S-TPC-2 ( NP-SBJ-1 ( NNP Mr. ) ( NNP Corr ) ) ( VP ( VBD resigned ) ( S-PRP ( VP ( TO to ) ( VP ( VB pursue ) ( NP ( JJ other ) ( NN business ) ( NNS interests ) ) ) ) ) ) ) ( NP-SBJ ( DT the ) ( NN airline ) ) ( VP ( VBD said ) ) )

Mr. Corr resigned to pursue other business interests the airline said


( S ( NP-SBJ-1 ( PRP He ) ) ( VP ( MD could ) ( RB not ) ( VP ( VB be ) ( VP ( VBN reached ) ( PP-CLR ( IN for ) ( NP ( NN comment ) ) ) ) ) ) )

He could not be reached for comment


( SINV ( VP-TPC-2 ( VBG Succeeding ) ( NP ( PRP him ) ) ( PP-CLR ( IN as ) ( NP ( NP ( NN chairman ) ) ( CC and ) ( NP ( NN chief ) ( NN executive ) ) ) ) ) ( VP ( MD will ) ( VP ( VB be ) ) ) ( NP-SBJ ( NP ( NNP Frank ) ( NNP Lorenzo ) ) ( NP ( NP ( NP ( NN chairman ) ) ( CC and ) ( NP ( NN chief ) ( NN executive ) ) ) ( PP ( IN of ) ( NP ( NP ( NP ( NNP Continental ) ( POS 's ) ) ( NN parent ) ) ( NP ( NNP Texas ) ( NNP Air ) ( NNP Corp ) ) ) ) ) ) )

Succeeding him as chairman and chief executive will be Frank Lorenzo chairman and chief executive of Continental 's parent Texas Air Corp


( S ( NP-SBJ ( NP ( NNP Mr. ) ( NNP Lorenzo ) ) ( ADJP ( NP ( CD 49 ) ( NNS years ) ) ( JJ old ) ) ) ( VP ( VBZ is ) ( VP ( VBG reclaiming ) ( NP ( NP ( DT the ) ( NN job ) ) ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( VP ( VBD was ) ( NP-PRD ( PRP his ) ) ( SBAR-TMP ( IN before ) ( S ( NP-SBJ ( NNP Mr. ) ( NNP Corr ) ) ( VP ( VBD signed ) ( PRT ( IN on ) ) ) ) ) ) ) ) ) ) ) )

Mr. Lorenzo 49 years old is reclaiming the job that was his before Mr. Corr signed on


( S ( NP-SBJ ( DT The ) ( NN airline ) ) ( ADVP ( RB also ) ) ( VP ( VBD named ) ( NP ( NNP Mickey ) ( NNP Foret ) ) ( PP-CLR ( IN as ) ( NP ( NN president ) ) ) ) )

The airline also named Mickey Foret as president


( S ( NP-SBJ ( NP ( NNP Mr. ) ( NNP Foret ) ) ( NP ( CD 44 ) ) ) ( VP ( VBZ is ) ( NP-PRD ( NP ( DT a ) ( JJ 15-year ) ( NN veteran ) ) ( PP ( IN of ) ( NP ( NP ( NNP Texas ) ( NNP Air ) ) ( CC and ) ( NP ( NP ( NNP Texas ) ( NNP International ) ( NNPS Airlines ) ) ( NP ( PRP$ its ) ( NN predecessor ) ) ) ) ) ) ) )

Mr. Foret 44 is a 15-year veteran of Texas Air and Texas International Airlines its predecessor


( S ( ADVP-TMP ( RBS Most ) ( RB recently ) ) ( NP-SBJ ( PRP he ) ) ( VP ( VBD had ) ( VP ( VBN been ) ( NP-PRD ( NP ( JJ executive ) ( NN vice ) ( NN president ) ) ( PP ( IN for ) ( NP ( NN planning ) ( CC and ) ( NN finance ) ) ) ( PP-LOC ( IN at ) ( NP ( NNP Texas ) ( NNP Air ) ) ) ) ) ) )

Most recently he had been executive vice president for planning and finance at Texas Air


( S ( NP-SBJ ( NP ( JJ Top ) ( NNS executives ) ) ( PP-LOC ( IN at ) ( NP ( NNP Continental ) ) ) ) ( VP ( VBP have ) ( RB n't ) ( VP ( VBN lasted ) ( ADVP-TMP-CLR ( RB long ) ) ( NP-1 ( NP ( RB especially ) ( DT those ) ) ( VP ( VBN recruited ) ( PP-CLR ( IN from ) ( NP ( NN outside ) ) ) ) ) ) ) )

Top executives at Continental have n't lasted long especially those recruited from outside


( S ( CC But ) ( NP-SBJ ( NP ( NNP Mr. ) ( NNP Corr ) ( POS 's ) ) ( NN tenure ) ) ( VP ( VBD was ) ( ADJP-PRD ( ADJP ( JJR shorter ) ) ( PP ( IN than ) ( NP ( JJS most ) ) ) ) ) )

But Mr. Corr 's tenure was shorter than most


( S ( NP-SBJ-1 ( DT The ) ( JJ 48-year-old ) ( NNP Mr. ) ( NNP Corr ) ) ( VP ( VBD was ) ( VP ( VBN hired ) ( SBAR-PRP ( RB largely ) ( IN because ) ( S ( NP-SBJ-2 ( PRP he ) ) ( VP ( VBD was ) ( VP ( VBN credited ) ( PP-CLR ( IN with ) ( S-NOM ( VP ( VBG returning ) ( NP ( NNP Trans ) ( NNP World ) ( NNPS Airlines ) ( NNP Inc. ) ) ( PP-DIR ( TO to ) ( NP ( NN profitability ) ) ) ( SBAR-TMP ( IN while ) ( S ( NP-SBJ ( PRP he ) ) ( VP ( VBD was ) ( NP-PRD ( PRP$ its ) ( NN president ) ) ( PP-TMP ( PP ( IN from ) ( NP ( CD 1986 ) ) ) ( PP ( TO to ) ( NP ( CD 1988 ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

The 48-year-old Mr. Corr was hired largely because he was credited with returning Trans World Airlines Inc. to profitability while he was its president from 1986 to 1988


( S ( PP-TMP ( IN Before ) ( NP ( DT that ) ) ) ( NP-SBJ ( PRP he ) ) ( VP ( VBD was ) ( NP-PRD ( NP ( DT an ) ( NN executive ) ) ( PP ( IN with ) ( NP ( DT a ) ( VBG manufacturing ) ( NN concern ) ) ) ) ) )

Before that he was an executive with a manufacturing concern


( S ( PP-LOC ( IN At ) ( NP ( NNP Continental ) ) ) ( NP-SBJ ( PRP he ) ) ( VP ( VP ( VBD cut ) ( NP ( JJ money-losing ) ( NNS operations ) ) ) ( SBAR ( WHNP-1 ( WDT which ) ) ( S ( VP ( VBD helped ) ( S ( VP ( VB produce ) ( NP ( DT a ) ( JJ modest ) ( NN profit ) ) ( PP-TMP ( IN in ) ( NP ( NP ( DT this ) ( NN year ) ( POS 's ) ) ( JJ second ) ( NN quarter ) ) ) ) ) ) ) ) ) )

At Continental he cut money-losing operations which helped produce a modest profit in this year 's second quarter


( S ( CC But ) ( NP-SBJ-1 ( NP ( NNP Mr. ) ( NNP Corr ) ) ( NP ( NP ( DT a ) ( NN stunt ) ( NN pilot ) ) ( PP-TMP ( IN in ) ( NP ( PRP$ his ) ( JJ spare ) ( NN time ) ) ) ) ) ( VP ( VBD was ) ( VP ( VBN understood ) ( S ( VP ( TO to ) ( VP ( VB be ) ( VP ( VBN frustrated ) ( PP ( IN by ) ( SBAR-NOM-LGS ( WHNP-3 ( WP what ) ) ( S ( NP-SBJ ( PRP he ) ) ( VP ( VBD regarded ) ( PP-CLR ( RB as ) ( NP ( NP ( VBN limited ) ( NN freedom ) ) ( PP-LOC ( IN under ) ( NP ( NNP Mr. ) ( NNP Lorenzo ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

But Mr. Corr a stunt pilot in his spare time was understood to be frustrated by what he regarded as limited freedom under Mr. Lorenzo


( S ( SBAR-ADV ( IN While ) ( S ( ADVP ( RB not ) ( RB officially ) ) ( NP-PRD ( NP ( DT an ) ( NN executive ) ) ( PP-LOC ( IN at ) ( NP ( NNP Continental ) ) ) ) ( PP-TMP ( IN during ) ( NP ( NP ( NNP Mr. ) ( NNP Corr ) ( POS 's ) ) ( NN tenure ) ) ) ) ) ( NP-SBJ-1 ( NNP Mr. ) ( NNP Lorenzo ) ) ( VP ( VBZ is ) ( VP ( VBN known ) ( PP-CLR ( IN for ) ( S-NOM ( VP ( VBG keeping ) ( NP ( NP ( JJ close ) ( NNS tabs ) ) ( PP ( IN on ) ( NP ( NP ( NNP Texas ) ( NNP Air ) ( POS 's ) ) ( VBG operating ) ( NNS units ) ) ) ) ) ) ) ) ) )

While not officially an executive at Continental during Mr. Corr 's tenure Mr. Lorenzo is known for keeping close tabs on Texas Air 's operating units


( S ( NP-SBJ-1 ( NNP Continental ) ) ( VP ( VP ( VBZ is ) ( NP-PRD ( NP ( NNP Texas ) ( NNP Air ) ( POS 's ) ) ( NN flagship ) ) ) ( CC and ) ( VP ( VBD was ) ( VP ( VBN built ) ( ADVP-MNR ( RB painfully ) ) ( PP-CLR ( TO to ) ( NP ( PRP$ its ) ( JJ present ) ( NN size ) ) ) ( PP-LOC ( IN under ) ( NP ( NNP Mr. ) ( NNP Lorenzo ) ) ) ( PP-TMP ( IN after ) ( S-NOM ( VP ( VBG emerging ) ( PP-CLR ( IN from ) ( NP ( NN bankruptcy ) ( NNS proceedings ) ) ) ( PP-TMP ( IN in ) ( NP ( CD 1986 ) ) ) ) ) ) ) ) ) )

Continental is Texas Air 's flagship and was built painfully to its present size under Mr. Lorenzo after emerging from bankruptcy proceedings in 1986


( S ( NP-SBJ ( NP ( PRP It ) ) ) ( VP ( VBZ 's ) ( ADJP-PRD ( JJ unclear ) ) ( SBAR-2 ( WHNP-1 ( WDT what ) ( NN role ) ) ( PRN ( PP ( IN if ) ( NP ( DT any ) ) ) ) ( S ( NP-SBJ ( NP ( NP ( NNP Mr. ) ( NNP Lorenzo ) ( POS 's ) ) ( JJ recent ) ( NN exploration ) ) ( PP ( IN of ) ( NP ( NP ( DT a ) ( JJ possible ) ( NN sale ) ) ( PP ( IN of ) ( NP ( NP ( DT a ) ( NN stake ) ) ( PP-LOC ( IN in ) ( NP ( NNP Continental ) ) ) ) ) ) ) ) ( VP ( VBD had ) ( PP-LOC ( IN in ) ( NP ( NP ( NNP Mr. ) ( NNP Corr ) ( POS 's ) ) ( NN departure ) ) ) ) ) ) ) )

It 's unclear what role if any Mr. Lorenzo 's recent exploration of a possible sale of a stake in Continental had in Mr. Corr 's departure


( S ( NP-SBJ ( NP ( CD One ) ( NN source ) ) ( ADJP ( JJ familiar ) ( PP ( IN with ) ( NP ( DT the ) ( NN airline ) ) ) ) ) ( VP ( VBD said ) ( PRN ( ADVP ( RB however ) ) ) ( SBAR ( IN that ) ( S ( NP-SBJ-1 ( NNP Mr. ) ( NNP Corr ) ) ( VP ( VBD was ) ( RB n't ) ( VP ( VBN informed ) ( PP-TMP ( IN in ) ( NP ( NN advance ) ) ) ( PP-TMP ( IN during ) ( NP ( DT the ) ( NN summer ) ) ) ( SBAR-TMP ( WHADVP-2 ( WRB when ) ) ( S ( NP-SBJ ( NNP Mr. ) ( NNP Lorenzo ) ) ( VP ( VBD began ) ( NP ( NP ( NNS discussions ) ) ( PP ( IN with ) ( NP ( JJ potential ) ( NNS buyers ) ) ) ) ) ) ) ) ) ) ) ) )

One source familiar with the airline said however that Mr. Corr was n't informed in advance during the summer when Mr. Lorenzo began discussions with potential buyers


( S ( PP-TMP ( IN During ) ( NP ( PRP$ his ) ( NN tenure ) ) ) ( NP-SBJ-1 ( NNP Mr. ) ( NNP Corr ) ) ( VP ( VP ( VBD attempted ) ( PP-MNR ( IN through ) ( NP ( NP ( DT a ) ( NN series ) ) ( PP ( IN of ) ( NP ( NNS meetings ) ) ) ) ) ( S ( VP ( TO to ) ( VP ( VB inform ) ( NP ( NNS managers ) ) ( PP-CLR ( IN of ) ( NP ( NP ( DT some ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( NN company ) ( POS 's ) ) ( JJ future ) ( NNS plans ) ) ) ) ) ) ) ) ) ( VP ( VBD traveled ) ( ADVP-MNR ( RB widely ) ) ( S-PRP ( VP ( TO to ) ( VP ( VB talk ) ( PP-CLR ( TO to ) ( NP ( NNS employees ) ) ) ) ) ) ) ( CC and ) ( VP ( VBD backed ) ( NP ( NP ( NN training ) ( NNS sessions ) ) ( VP ( VBN designed ) ( S-CLR ( VP ( TO to ) ( VP ( VB improve ) ( NP ( NP ( DT the ) ( NN carrier ) ( POS 's ) ) ( NN image ) ) ) ) ) ) ) ) ) )

During his tenure Mr. Corr attempted through a series of meetings to inform managers of some of the company 's future plans traveled widely to talk to employees and backed training sessions designed to improve the carrier 's image


( S ( NP-SBJ ( NNP Mr. ) ( NNP Foret ) ) ( VP ( VBZ is ) ( NP-PRD ( NP ( CD one ) ) ( PP ( IN of ) ( NP ( NP ( DT a ) ( NN handful ) ) ( PP ( IN of ) ( NP ( NP ( NNS executives ) ) ( SBAR ( S ( NP-SBJ ( NNP Mr. ) ( NNP Lorenzo ) ) ( VP ( VBZ has ) ( VP ( VBN relied ) ( PRT ( RP on ) ) ( PP-TMP ( IN over ) ( NP ( DT the ) ( NNS years ) ) ) ) ) ) ) ) ) ) ) ) ) )

Mr. Foret is one of a handful of executives Mr. Lorenzo has relied on over the years


( S ( ADVP-TMP ( RB Previously ) ) ( NP-SBJ ( PRP he ) ) ( VP ( VBD had ) ( VP ( VBN served ) ( PP-LOC ( IN in ) ( NP ( JJ financial ) ( VBG planning ) ( NNS positions ) ) ) ( PP-LOC ( IN at ) ( NP ( NP ( DT the ) ( NN company ) ( POS 's ) ) ( NNP Eastern ) ( NNPS Airlines ) ( NN unit ) ) ) ) ) )

Previously he had served in financial planning positions at the company 's Eastern Airlines unit


( S ( NP-SBJ ( NP ( DT Another ) ( NN longtime ) ( NN ally ) ) ( NP ( NNP Phil ) ( NNP Bakes ) ) ) ( ADVP-TMP ( RB currently ) ) ( VP ( VBZ heads ) ( NP ( NP ( NNP Eastern ) ) ( PP-LOC ( ADVP-TMP ( RB now ) ) ( IN in ) ( NP ( NN Chapter ) ( CD 11 ) ( NN bankruptcy ) ( NNS proceedings ) ) ) ) ) )

Another longtime ally Phil Bakes currently heads Eastern now in Chapter 11 bankruptcy proceedings


( S ( NP-SBJ-1 ( NNP Mr. ) ( NNP Bakes ) ) ( ADVP-TMP ( RB previously ) ) ( VP ( VBD had ) ( NP ( NP ( DT a ) ( NN turn ) ) ( PP ( IN at ) ( S-NOM ( VP ( VBG running ) ( NP ( NNP Continental ) ) ) ) ) ) ) )

Mr. Bakes previously had a turn at running Continental


( SINV ( PP-LOC-PRD-TPC-1 ( IN Among ) ( NP ( DT the ) ( JJ other ) ( NNS alumni ) ) ) ( VP ( VBP are ) ) ( NP-SBJ ( NP ( NP ( NNP Stephen ) ( NNP Wolf ) ) ( NP ( NP ( ADVP-TMP ( RB now ) ) ( NN chairman ) ) ( PP ( IN of ) ( NP ( NNP UAL ) ( NNP Inc. ) ) ) ) ) ( CC and ) ( NP ( NP ( NNP Thomas ) ( NNP Plaskett ) ) ( NP ( NP ( NN president ) ) ( PP ( IN of ) ( NP ( NNP Pan ) ( NNP Am ) ( NNP Corp ) ) ) ) ) ) )

Among the other alumni are Stephen Wolf now chairman of UAL Inc. and Thomas Plaskett president of Pan Am Corp


( S ( NP-SBJ ( NNP Humana ) ( NNP Inc. ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ-1 ( PRP it ) ) ( VP ( VBZ expects ) ( S ( VP ( TO to ) ( VP ( VB receive ) ( NP ( NP ( QP ( IN about ) ( CD 27 ) ( CD million ) ) ) ( PP ( IN in ) ( NP ( NP ( JJ federal ) ( JJ income-tax ) ( NNS refunds ) ) ( CC and ) ( NP ( NN interest ) ) ) ) ) ( PP ( IN from ) ( NP ( NP ( DT a ) ( NN court ) ( VBG ruling ) ) ( PP ( IN on ) ( NP ( DT a ) ( NN tax ) ( NN dispute ) ) ) ) ) ) ) ) ) ) ) ) )

Humana Inc. said it expects to receive about 27 million in federal income-tax refunds and interest from a court ruling on a tax dispute


( S ( NP-SBJ ( DT The ) ( JJ health-care ) ( NN company ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBZ expects ) ( S ( NP-SBJ-1 ( DT the ) ( NN refund ) ) ( VP ( TO to ) ( VP ( VB be ) ( VP ( VBN included ) ( PP-CLR ( IN in ) ( NP ( NP ( DT the ) ( JJ first ) ( NN quarter ) ) ( VP ( VBG ending ) ( NP-TMP ( NNP Nov. ) ( CD 30 ) ) ) ) ) ) ) ) ) ) ) ) ) )

The health-care company said it expects the refund to be included in the first quarter ending Nov. 30


( S ( NP-SBJ ( DT The ) ( NN refund ) ) ( VP ( VBZ is ) ( NP-PRD ( QP ( IN about ) ( CD 9 ) ( CD million ) ) ) ) )

The refund is about 9 million


( S ( NP-SBJ ( NP ( VBN Accrued ) ( NN interest ) ) ( PP ( IN on ) ( NP ( DT the ) ( NN refund ) ) ) ) ( VP ( VBD was ) ( NP-PRD ( QP ( IN about ) ( CD 18 ) ( CD million ) ) ) ( PP-TMP ( IN as ) ( PP ( IN of ) ( NP ( NNP Oct. ) ( CD 25 ) ) ) ) ) )

Accrued interest on the refund was about 18 million as of Oct. 25


( S ( NP-SBJ ( DT The ) ( NN refund ) ) ( VP ( VBZ stems ) ( PP-CLR ( IN from ) ( NP ( NP ( DT a ) ( NN court ) ( NN ruling ) ) ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( VP ( VBD found ) ( SBAR ( S ( NP-SBJ ( NP ( JJ certain ) ( NNS payments ) ) ( PP ( IN by ) ( NP ( NNP Humana ) ( NNS subsidiaries ) ) ) ( PP ( TO to ) ( NP ( PRP$ its ) ( NN insurance ) ( NN subsidiary ) ) ) ( PP-TMP ( IN during ) ( NP ( NP ( JJ fiscal ) ( CD 1977 ) ) ( PP ( IN through ) ( NP ( CD 1979 ) ) ) ) ) ) ( VP ( VBD were ) ( ADJP-PRD ( JJ deductible ) ( PP ( IN as ) ( NP ( NP ( NNS premiums ) ) ( PP ( IN for ) ( NP ( NN liability ) ( NN insurance ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

The refund stems from a court ruling that found certain payments by Humana subsidiaries to its insurance subsidiary during fiscal 1977 through 1979 were deductible as premiums for liability insurance


( S ( NP-SBJ-1 ( NNP Federal ) ( NNP Reserve ) ( NNS critics ) ) ( VP ( VBD used ) ( S ( VP ( TO to ) ( VP ( VB complain ) ( PP-CLR ( IN of ) ( NP ( ADJP ( VB stop ) ( CC and ) ( VB go ) ) ( JJ monetary ) ( NNS policies ) ) ) ) ) ) ) )

Federal Reserve critics used to complain of stop and go monetary policies


( S ( NP-SBJ ( PRP They ) ) ( VP ( VBD claimed ) ( SBAR ( IN that ) ( S ( NP-SBJ-1 ( DT the ) ( NNP Fed ) ) ( VP ( MD would ) ( VP ( VP ( ADVP-TMP ( RB first ) ) ( VB give ) ( NP ( DT a ) ( JJ green ) ( NN light ) ) ( PP-DTV ( TO to ) ( NP ( DT the ) ( NN economy ) ) ) ( PP-MNR ( IN by ) ( S-NOM ( VP ( VBG making ) ( S ( NP-SBJ ( NN credit ) ) ( ADJP-PRD ( RB readily ) ( JJ available ) ) ) ) ) ) ) ( CC and ) ( VP ( ADVP-TMP ( RB then ) ) ( VP ( VB turn ) ( PRT ( RP on ) ) ( NP ( DT the ) ( JJ red ) ) ) ( CC and ) ( VP ( VB bring ) ( NP ( NN growth ) ) ( PP-CLR ( TO to ) ( NP ( DT a ) ( JJ screeching ) ( NN halt ) ) ) ) ) ) ) ) ) ) )

They claimed that the Fed would first give a green light to the economy by making credit readily available and then turn on the red and bring growth to a screeching halt


( S ( CC But ) ( PP-LOC ( IN under ) ( NP ( NNP Alan ) ( NNP Greenspan ) ) ) ( NP-SBJ ( WDT that ) ) ( VP ( VBZ has ) ( VP ( VBN changed ) ) ) )

But under Alan Greenspan that has changed


( S ( S-ADV ( NP-PRD ( DT A ) ( ADJP ( RB supremely ) ( JJ cautious ) ) ( NN man ) ) ) ( NP-SBJ-1 ( DT the ) ( NNP Fed ) ( NN chairman ) ) ( VP ( VBZ is ) ( ADVP-TMP ( RB forever ) ) ( VP ( RB blinking ) ( ADJP ( JJ yellow ) ) ) ) )

A supremely cautious man the Fed chairman is forever blinking yellow


( S ( ADVP ( RB Indeed ) ) ( NP-SBJ ( PRP$ his ) ( NN caution ) ) ( VP ( VBZ has ) ( VP ( VBN become ) ( ADJP-PRD ( JJ legendary ) ) ( PP-LOC ( IN within ) ( NP ( DT the ) ( NN government ) ) ) ) ) )

Indeed his caution has become legendary within the government


( S ( NP-SBJ-1 ( PRP He ) ) ( VP ( VBZ fusses ) ( ADVP-TMP ( RB endlessly ) ) ( PP-CLR ( IN over ) ( NP ( JJ economic ) ( NNS statistics ) ) ) ( S-ADV ( VP ( VBG dissecting ) ( NP ( PRP them ) ) ( PP-MNR ( IN in ) ( NP ( NP ( NNS dozens ) ) ( PP ( IN of ) ( NP ( NNS ways ) ) ) ) ) ) ) ( S-ADV ( VP ( VBG probing ) ( PP-TMP ( IN for ) ( NP ( NNS hours ) ) ) ( PP-PRP ( IN in ) ( NP ( NP ( NN search ) ) ( PP ( IN of ) ( NP ( JJ potential ) ( NNS problems ) ) ) ) ) ) ) ) )

He fusses endlessly over economic statistics dissecting them in dozens of ways probing for hours in search of potential problems


( S ( S ( PP-TMP ( IN After ) ( S-NOM ( VP ( ADVP-MNR ( RB thoroughly ) ) ( VBG digesting ) ( NP ( NP ( NNS reams ) ) ( PP ( IN of ) ( NP ( NN information ) ) ) ) ) ) ) ( NP-SBJ-4 ( PRP he ) ) ( ADVP-TMP ( RB often ) ) ( VP ( VBZ concludes ) ( SBAR ( IN that ) ( S ( NP-SBJ-1 ( JJR more ) ( NNS data ) ) ( VP ( VBP are ) ( VP ( VBN needed ) ) ) ) ) ) ) ( CC and ) ( S ( SBAR-TMP ( WHADVP-2 ( WRB when ) ) ( S ( NP-SBJ-3 ( PRP he ) ) ( ADVP-TMP ( RB finally ) ) ( VP ( VBZ decides ) ( S ( VP ( TO to ) ( VP ( VB act ) ) ) ) ) ) ) ( NP-SBJ ( PRP$ his ) ( NNS movements ) ) ( ADVP-TMP ( RB sometimes ) ) ( VP ( VBP seem ) ( ADJP-PRD ( RB excrutiatingly ) ( JJ small ) ) ) ) )

After thoroughly digesting reams of information he often concludes that more data are needed and when he finally decides to act his movements sometimes seem excrutiatingly small


( S ( NP-SBJ ( JJ Such ) ( NN caution ) ) ( VP ( VBD was ) ( ADJP-PRD ( JJ evident ) ) ( PP-TMP ( IN after ) ( NP ( DT the ) ( JJ recent ) ( JJ Friday-the-13th ) ( NN stock ) ( NN market ) ( NN plunge ) ) ) ) )

Such caution was evident after the recent Friday-the-13th stock market plunge


( S ( NP-SBJ ( DT Some ) ( NNP Bush ) ( NN administration ) ( NNS officials ) ) ( VP ( VBD urged ) ( NP-1 ( NNP Mr. ) ( NNP Greenspan ) ) ( S ( VP ( TO to ) ( VP ( VB make ) ( NP ( NP ( DT an ) ( JJ immediate ) ( JJ public ) ( NN announcement ) ) ( PP ( IN of ) ( NP ( PRP$ his ) ( NNS plans ) ( S ( VP ( TO to ) ( VP ( VB provide ) ( NP ( JJ ample ) ( NN credit ) ) ( PP-CLR ( TO to ) ( NP ( DT the ) ( NNS markets ) ) ) ) ) ) ) ) ) ) ) ) ) )

Some Bush administration officials urged Mr. Greenspan to make an immediate public announcement of his plans to provide ample credit to the markets


( S ( CC But ) ( NP-SBJ-2 ( PRP he ) ) ( VP ( VBD refused ) ( S-ADV ( VP ( VBG claiming ) ( SBAR ( IN that ) ( S ( NP-SBJ-3 ( PRP he ) ) ( VP ( VBD wanted ) ( S ( VP ( TO to ) ( VP ( VB see ) ( SBAR-NOM ( WHNP-1 ( WP what ) ) ( S ( VP ( VBD happened ) ( NP-TMP ( NNP Monday ) ( NN morning ) ) ) ) ) ( PP-TMP ( IN before ) ( S-NOM ( VP ( VBG making ) ( NP ( DT any ) ( JJ public ) ( NN statement ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

But he refused claiming that he wanted to see what happened Monday morning before making any public statement


( S ( NP-SBJ ( NP ( NNP Mr. ) ( NNP Greenspan ) ( POS 's ) ) ( NN decision ) ( S ( VP ( TO to ) ( VP ( VB keep ) ( NP ( NN quiet ) ) ) ) ) ) ( VP ( RB also ) ( VP ( VBD prompted ) ( NP ( NP ( DT a ) ( NN near-mutiny ) ) ( PP-LOC ( IN within ) ( NP ( NP ( DT the ) ( NNP Fed ) ( POS 's ) ) ( NNS ranks ) ) ) ) ) ) )

Mr. Greenspan 's decision to keep quiet also prompted a near-mutiny within the Fed 's ranks


( S ( NP-SBJ-1 ( DT A ) ( JJ senior ) ( NNP Fed ) ( NN official ) ) ( VP ( VBD spoke ) ( PP-TMP ( IN on ) ( NP ( NNP Saturday ) ) ) ( PP-TMP ( IN after ) ( NP ( DT the ) ( NN market ) ( NN swoon ) ) ) ( PP-CLR ( TO to ) ( NP ( PDT both ) ( NP ( DT the ) ( NNP Washington ) ( NNP Post ) ) ( CC and ) ( NP ( DT the ) ( NNP New ) ( NNP York ) ( NNP Times ) ) ) ) ( S-ADV ( VP ( VBG saying ) ( SBAR ( S ( NP-SBJ-2 ( DT the ) ( NNP Fed ) ) ( VP ( VBD was ) ( VP ( VBN prepared ) ( S ( VP ( TO to ) ( VP ( VB provide ) ( NP ( NP ( IN as ) ( JJ much ) ( NN credit ) ) ( SBAR ( IN as ) ( S ( NP-SBJ ( DT the ) ( NNS markets ) ) ( VP ( VBD needed ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

A senior Fed official spoke on Saturday after the market swoon to both the Washington Post and the New York Times saying the Fed was prepared to provide as much credit as the markets needed


( S ( S ( NP-SBJ ( DT The ) ( NN statement ) ) ( VP ( VBD angered ) ( NP ( NNP Chairman ) ( NNP Greenspan ) ) ) ) ( CC but ) ( S ( NP-SBJ-1 ( PRP it ) ) ( VP ( VBD was ) ( VP ( VBN greeted ) ( PP-CLR ( IN with ) ( NP ( NN applause ) ) ) ( PP ( IN by ) ( NP-LGS ( NP ( DT the ) ( NNP Bush ) ( NN administration ) ) ( CC and ) ( NP ( DT the ) ( JJ financial ) ( NNS markets ) ) ) ) ) ) ) )

The statement angered Chairman Greenspan but it was greeted with applause by the Bush administration and the financial markets


( S ( CC And ) ( SBAR-ADV ( IN while ) ( S ( NP-SBJ ( DT the ) ( JJ mutinous ) ( NNP Fed ) ( NN member ) ) ( VP ( VBZ has ) ( RB n't ) ( VP ( VBN gone ) ( ADJP-PRD ( JJ public ) ) ) ) ) ) ( NP-SBJ-1 ( NP ( DT some ) ( NNP Fed ) ( NNS governors ) ) ( NP ( ADVP ( RBS most ) ( RB notably ) ) ( NNP Vice ) ( NNP Chairman ) ( NNP Manuel ) ( NNP Johnson ) ) ) ( VP ( VBP are ) ( VP ( VBN known ) ( S ( VP ( TO to ) ( VP ( VB have ) ( VP ( VBN disagreed ) ( PP-CLR ( IN with ) ( NP ( NP ( DT the ) ( NN chairman ) ( POS 's ) ) ( NN decision ) ( S ( VP ( TO to ) ( VP ( VB remain ) ( ADJP-PRD ( JJ silent ) ) ) ) ) ) ) ) ) ) ) ) ) )

And while the mutinous Fed member has n't gone public some Fed governors most notably Vice Chairman Manuel Johnson are known to have disagreed with the chairman 's decision to remain silent


( S ( ADVP ( RB Ironically ) ) ( NP-SBJ ( NP ( DT the ) ( JJ anonymous ) ( NN official ) ( POS 's ) ) ( NNS comments ) ) ( VP ( VBP have ) ( VP ( VBN earned ) ( NP ( DT some ) ( NNS plaudits ) ) ( PP ( IN for ) ( NP ( NP ( NNP Mr. ) ( NNP Greenspan ) ) ( SBAR ( WHNP-1 ( WP who ) ) ( S ( VP ( VBZ is ) ( VP ( ADVP-MNR ( RB mistakenly ) ) ( VBN seen ) ( PP-CLR ( IN as ) ( NP ( DT the ) ( NN source ) ) ) ) ) ) ) ) ) ) ) )

Ironically the anonymous official 's comments have earned some plaudits for Mr. Greenspan who is mistakenly seen as the source


( S ( PP-LOC ( IN At ) ( NP ( DT a ) ( NN hearing ) ) ) ( NP-TMP ( JJ last ) ( NN week ) ) ( NP-SBJ ( NP ( JJ Democratic ) ( NNP Sen. ) ( NNP Chris ) ( NNP Dodd ) ) ( PP ( IN of ) ( NP ( NNP Connecticut ) ) ) ) ( VP ( VBD told ) ( NP ( NNP Treasury ) ( NNP Secretary ) ( NNP Nicholas ) ( NNP Brady ) ) ( SBAR ( IN that ) ( S ( NP-SBJ ( NP ( NP ( NNP Chairman ) ( NNP Greenspan ) ( POS 's ) ) ( NN announcement ) ) ( PP-TMP ( IN over ) ( NP ( DT the ) ( NNP Oct. ) ( CD 13 ) ( NN weekend ) ) ) ) ( VP ( VBD was ) ( NP-PRD ( DT a ) ( ADVP ( RB very ) ( JJ important ) ) ( NN statement ) ) ) ) ) ) )

At a hearing last week Democratic Sen. Chris Dodd of Connecticut told Treasury Secretary Nicholas Brady that Chairman Greenspan 's announcement over the Oct. 13 weekend was a very important statement


( S ( NP-SBJ ( NNP Mr. ) ( NNP Brady ) ) ( VP ( ADVP-MNR ( RB hesitantly ) ) ( VBD replied ) ( SBAR ( IN that ) ( S ( NP-SBJ ( PRP he ) ) ( VP ( VBD was ) ( RB n't ) ( ADJP-PRD ( JJ sure ) ( SBAR ( SBAR ( IN whether ) ( S ( NP-SBJ ( NNP Mr. ) ( NNP Greenspan ) ) ( VP ( VBD made ) ( NP ( DT a ) ( NN statement ) ) ( NP-ADV ( PRP himself ) ) ) ) ) ( CC or ) ( SBAR ( IN whether ) ( S ( NP-SBJ ( DT that ) ) ( VP ( VBD was ) ( NP-PRD ( DT a ) ( NN newspaper ) ( NN report ) ) ) ) ) ) ) ) ) ) ) )

Mr. Brady hesitantly replied that he was n't sure whether Mr. Greenspan made a statement himself or whether that was a newspaper report


( S ( NP-SBJ ( NP ( DT The ) ( NNP Fed ) ( NN chairman ) ( POS 's ) ) ( NN caution ) ) ( VP ( VBD was ) ( ADJP-PRD ( JJ apparent ) ) ( ADVP-TMP ( RB again ) ) ( PP-TMP ( IN on ) ( NP ( NP ( DT the ) ( NNP Monday ) ( NN morning ) ) ( PP-TMP ( IN after ) ( NP ( NP ( DT the ) ( NN market ) ( POS 's ) ) ( NN plunge ) ) ) ( SBAR ( WHADVP-1 ( WRB when ) ) ( S ( NP-SBJ ( DT the ) ( JJ central ) ( NN bank ) ) ( VP ( VBD took ) ( NP ( NP ( RB only ) ( JJ modest ) ( NNS steps ) ) ( SBAR ( S ( VP ( TO to ) ( VP ( VB aid ) ( NP ( DT the ) ( NNS markets ) ) ) ) ) ) ) ) ) ) ) ) ) )

The Fed chairman 's caution was apparent again on the Monday morning after the market 's plunge when the central bank took only modest steps to aid the markets


( S ( NP-SBJ-1 ( NP ( DT A ) ( ADJP ( RB surprisingly ) ( JJ small ) ) ( NN amount ) ) ( PP ( IN of ) ( NP ( NNS reserves ) ) ) ) ( VP ( VBD was ) ( VP ( VBN added ) ( PP-CLR ( TO to ) ( NP ( DT the ) ( NN banking ) ( NN system ) ) ) ) ) )

A surprisingly small amount of reserves was added to the banking system


( S ( CC And ) ( PP-TMP ( IN by ) ( NP ( NP ( DT the ) ( NN end ) ) ( PP ( IN of ) ( NP ( DT that ) ( NN week ) ) ) ) ) ( NP-SBJ ( NP ( DT the ) ( JJ key ) ( JJ federal ) ( NNS funds ) ( NN interest ) ( NN rate ) ) ( SBAR ( WHNP-1 ( WDT which ) ) ( S ( VP ( VBZ is ) ( ADVP ( RB largely ) ) ( VP ( VBN controlled ) ( PP ( IN by ) ( NP-LGS ( DT the ) ( NNP Fed ) ) ) ) ) ) ) ) ( VP ( VBD had ) ( VP ( VBN settled ) ( PP-CLR ( IN at ) ( NP ( NP ( CD 8.75 ) ( NN % ) ) ( VP ( ADVP-MNR ( RB barely ) ) ( VBN changed ) ( PP-CLR ( IN from ) ( NP ( NP ( DT the ) ( NN level ) ) ( PP ( IN of ) ( NP ( QP ( RB just ) ( IN under ) ( CD 9 ) ) ( NN % ) ) ) ( SBAR ( WHNP-2 ( WDT that ) ) ( S ( VP ( VBD prevailed ) ( NP-TMP ( DT the ) ( JJ previous ) ( NN week ) ) ) ) ) ) ) ) ) ) ) ) )

And by the end of that week the key federal funds interest rate which is largely controlled by the Fed had settled at 8.75 % barely changed from the level of just under 9 % that prevailed the previous week


( S ( NP-SBJ ( NNP Bush ) ( NN administration ) ( NNS officials ) ) ( VP ( VBP appear ) ( ADJP-PRD ( RB increasingly ) ( VBN concerned ) ( SBAR ( IN that ) ( S ( NP-SBJ ( NNP Mr. ) ( NNP Greenspan ) ) ( VP ( VBZ is ) ( ADJP-PRD ( JJ cautious ) ( PP ( TO to ) ( NP ( DT a ) ( NN fault ) ) ) ) ) ) ) ) ) )

Bush administration officials appear increasingly concerned that Mr. Greenspan is cautious to a fault


( S ( NP-SBJ ( NP ( NNS Signs ) ) ( PP ( IN of ) ( NP ( NP ( VBG growing ) ( NN weakness ) ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( NN economy ) ) ) ) ) ( VP ( VBN paired ) ( PP-CLR ( IN with ) ( NP ( NNS indications ) ( SBAR ( IN that ) ( S ( NP-SBJ ( NN inflation ) ) ( VP ( VBZ is ) ( VP ( VBG staying ) ( PP-CLR ( ADVP ( RB well ) ) ( IN under ) ( NP ( NN control ) ) ) ) ) ) ) ) ) ) ) ( VP ( VBP have ) ( VP ( VBN caused ) ( S ( NP-SBJ ( PRP them ) ) ( VP ( TO to ) ( VP ( VB wonder ) ( SBAR ( WHADVP-1 ( WRB why ) ) ( S ( NP-SBJ-2 ( DT the ) ( NNP Fed ) ( NN chairman ) ) ( VP ( VBZ is ) ( ADJP-PRD ( RB so ) ( JJ grudging ) ) ( PP ( IN in ) ( S-NOM ( VP ( VBG reducing ) ( NP ( NNS rates ) ) ) ) ) ) ) ) ) ) ) ) ) )

Signs of growing weakness in the economy paired with indications that inflation is staying well under control have caused them to wonder why the Fed chairman is so grudging in reducing rates


( S ( NP-SBJ-1 ( DT Those ) ( NNS concerns ) ) ( VP ( VBP are ) ( RB n't ) ( VP ( VBN expressed ) ( PP-LOC ( IN in ) ( NP ( NN public ) ) ) ) ) )

Those concerns are n't expressed in public


( S ( PP ( IN In ) ( NP ( NN fact ) ) ) ( NP-SBJ-1 ( NP ( DT the ) ( NN administration ) ) ( CC and ) ( NP ( DT the ) ( NNP Fed ) ) ) ( VP ( VBP have ) ( VP ( VBN been ) ( VP ( VBG going ) ( ADVP-CLR ( IN out ) ( PP ( IN of ) ( NP ( PRP$ their ) ( NN way ) ) ) ) ( PP-TMP ( IN in ) ( NP ( DT the ) ( JJ past ) ( CD two ) ( NNS weeks ) ) ) ( S-PRP ( VP ( TO to ) ( VP ( VB dispel ) ( NP ( DT any ) ( NN impression ) ( SBAR ( IN that ) ( S ( NP-SBJ ( PRP they ) ) ( VP ( VBP are ) ( PP-PRD ( IN at ) ( NP ( NNS odds ) ) ) ) ) ) ) ) ) ) ( S-ADV ( VP ( VBG fearing ) ( SBAR ( S ( NP-SBJ ( NP ( NNS stories ) ) ( PP ( IN about ) ( NP ( DT an ) ( JJ administration-Fed ) ( NN split ) ) ) ) ( VP ( VBN added ) ( PP-CLR ( TO to ) ( NP ( NP ( DT the ) ( NN stock ) ( NN market ) ( POS 's ) ) ( NNS jitters ) ) ) ) ) ) ) ) ) ) ) )

In fact the administration and the Fed have been going out of their way in the past two weeks to dispel any impression that they are at odds fearing stories about an administration-Fed split added to the stock market 's jitters


( S ( ADVP-TMP ( RB Still ) ) ( NP-SBJ ( DT the ) ( NN split ) ) ( VP ( VBZ is ) ( ADVP-LOC-PRD ( RB there ) ) ) )

Still the split is there


( S ( NP-SBJ ( NP ( DT The ) ( NN administration ) ( POS 's ) ) ( NNS concerns ) ) ( VP ( VBP are ) ( ADJP-PRD ( JJ understandable ) ) ) )

The administration 's concerns are understandable


( S ( NP-SBJ ( DT The ) ( NN economy ) ) ( VP ( VBZ is ) ( VP ( VBG showing ) ( NP ( NP ( NNS signs ) ) ( PP ( IN of ) ( NP ( NN weakness ) ) ) ) ( PP-LOC ( ADVP ( RB particularly ) ) ( IN among ) ( NP ( NNS manufacturers ) ) ) ) ) )

The economy is showing signs of weakness particularly among manufacturers


( S ( NP-SBJ-2 ( NP ( NNS Exports ) ) ( SBAR ( WHNP-1 ( WDT which ) ) ( S ( VP ( VBD played ) ( NP ( NP ( DT a ) ( JJ key ) ( NN role ) ) ( PP-LOC ( IN in ) ( S-NOM ( VP ( VBG fueling ) ( NP ( NN growth ) ) ) ) ) ) ( PP-TMP ( IN over ) ( NP ( DT the ) ( JJ last ) ( CD two ) ( NNS years ) ) ) ) ) ) ) ( VP ( VBP seem ) ( S ( VP ( TO to ) ( VP ( VB have ) ( VP ( VBN stalled ) ) ) ) ) ) )

Exports which played a key role in fueling growth over the last two years seem to have stalled


( S ( S ( NP-SBJ ( NN Factory ) ( NNS payrolls ) ( CC and ) ( NN production ) ) ( VP ( VBD fell ) ( PP-TMP ( IN in ) ( NP ( NNP September ) ) ) ) ) ( CC and ) ( S ( NP-SBJ ( NP ( DT the ) ( NN auto ) ( NN industry ) ) ( CC and ) ( NP ( NN housing ) ) ) ( VP ( VBP are ) ( PP-LOC-PRD ( IN in ) ( NP ( DT a ) ( JJ severe ) ( NN crunch ) ) ) ) ) )

Factory payrolls and production fell in September and the auto industry and housing are in a severe crunch


( S ( CC But ) ( NP-SBJ-2 ( NNP Mr. ) ( NNP Greenspan ) ) ( VP ( VBZ remains ) ( ADJP-PRD ( JJ reluctant ) ( S ( VP ( TO to ) ( VP ( VB loosen ) ( NP ( NN policy ) ) ) ) ) ) ( SBAR-PRP ( RB partly ) ( IN because ) ( S ( NP-SBJ ( PRP he ) ) ( VP ( VBZ faces ) ( NP ( NP ( DT a ) ( NN phalanx ) ) ( PP ( IN of ) ( NP ( NP ( NNS presidents ) ) ( PP ( IN of ) ( NP ( JJ regional ) ( NNP Fed ) ( NNS banks ) ) ) ( SBAR ( WHNP-1 ( WP who ) ) ( S ( VP ( VBP oppose ) ( NP ( NN credit ) ( NN easing ) ) ) ) ) ) ) ) ) ) ) ) )

But Mr. Greenspan remains reluctant to loosen policy partly because he faces a phalanx of presidents of regional Fed banks who oppose credit easing


( S ( PP ( IN In ) ( NP ( NN addition ) ) ) ( NP-SBJ ( DT the ) ( NN chairman ) ) ( VP ( VBZ has ) ( NP ( NP ( DT a ) ( JJ wary ) ( NN eye ) ) ( VP ( VBN aimed ) ( PP-CLR ( NP-ADV ( DT a ) ( NN year ) ( QP ( CC or ) ( CD two ) ) ) ( IN down ) ( NP ( DT the ) ( NN road ) ) ) ) ) ) )

In addition the chairman has a wary eye aimed a year or two down the road


( S ( NP-SBJ-1 ( NN Inflation ) ) ( VP ( MD may ) ( VP ( VB be ) ( ADJP-PRD ( JJ stable ) ) ( PP-TMP ( IN at ) ( NP ( DT the ) ( NN moment ) ) ) ( S-ADV ( VP ( VBG running ) ( PP-CLR ( IN at ) ( NP ( QP ( IN about ) ( CD 4.5 ) ) ( NN % ) ) ) ) ) ) ) )

Inflation may be stable at the moment running at about 4.5 %


( S-1 ( CC But ) ( SBAR-ADV ( IN if ) ( S ( NP-SBJ ( DT the ) ( NNP Fed ) ) ( VP ( VBZ eases ) ( ADVP-TMP ( RB too ) ( RB soon ) ) ) ) ) ( PRN ( S ( NP-SBJ ( NNP Mr. ) ( NNP Greenspan ) ) ( VP ( VBZ fears ) ) ) ) ( NP-SBJ-2 ( NNS prices ) ) ( VP ( MD may ) ( VP ( VB begin ) ( S ( VP ( TO to ) ( VP ( VB accelerate ) ( ADVP-TMP ( RB again ) ) ( NP-TMP ( JJ next ) ( NN year ) ) ) ) ) ) ) )

But if the Fed eases too soon Mr. Greenspan fears prices may begin to accelerate again next year


( S ( ADVP ( RB Moreover ) ) ( SBAR-ADV ( IN if ) ( S ( NP-SBJ ( DT the ) ( NNP Fed ) ) ( VP ( VBZ holds ) ( ADVP-CLR ( RB tight ) ) ) ) ) ( NP-SBJ-2 ( PRP it ) ) ( VP ( MD may ) ( VP ( VB be ) ( ADJP-PRD ( JJ able ) ( S ( VP ( ADVP-MNR ( RB gradually ) ) ( TO to ) ( VP ( VB reduce ) ( NP ( NN inflation ) ) ( S-ADV ( VP ( VBG moving ) ( PP-DIR ( IN toward ) ( NP ( NP ( DT the ) ( NN zero-inflation ) ( NN goal ) ) ( SBAR ( WHNP-1 ( IN that ) ) ( S ( NP-SBJ ( DT the ) ( NNP Fed ) ( NN chairman ) ) ( VP ( VBD embraced ) ( PP-LOC ( IN in ) ( NP ( NP ( NN testimony ) ) ( PP ( TO to ) ( NP ( NNP Congress ) ) ) ) ) ( NP-TMP ( JJ last ) ( NN week ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Moreover if the Fed holds tight it may be able gradually to reduce inflation moving toward the zero-inflation goal that the Fed chairman embraced in testimony to Congress last week


( S ( ADVP-TMP ( IN So ) ( RB far ) ) ( NP-SBJ ( NP ( NP ( NNP Mr. ) ( NNP Greenspan ) ( POS 's ) ) ( JJ cautious ) ( NN approach ) ) ( PP ( TO to ) ( NP ( NN policy ) ) ) ) ( VP ( VBZ has ) ( VP ( VBN served ) ( NP ( DT both ) ( NP ( PRP him ) ) ( CC and ) ( NP ( DT the ) ( NN nation ) ) ) ( ADVP-MNR ( RB well ) ) ) ) )

So far Mr. Greenspan 's cautious approach to policy has served both him and the nation well


( S ( NP-SBJ ( NP ( PRP$ His ) ( NN hand ) ) ( PP-LOC ( IN on ) ( NP ( DT the ) ( JJ monetary ) ( NN tiller ) ) ) ) ( VP ( VBZ seems ) ( NP-PRD ( NP ( CD one ) ( NN reason ) ) ( SBAR ( WHADVP-2 ( WRB why ) ) ( S ( NP-SBJ-1 ( NP ( DT the ) ( NN economy ) ) ( NP-TMP ( JJ next ) ( NN month ) ) ) ( VP ( VBZ seems ) ( ADJP-PRD ( RB highly ) ( JJ likely ) ( S ( VP ( TO to ) ( VP ( VB begin ) ( NP ( NP ( DT an ) ( JJ unprecedented ) ( JJ eighth ) ( NN year ) ) ( PP ( IN of ) ( NP ( NN peacetime ) ( NN growth ) ) ) ( PP ( IN without ) ( NP ( DT a ) ( NN recession ) ) ) ) ) ) ) ) ) ) ) ) ) )

His hand on the monetary tiller seems one reason why the economy next month seems highly likely to begin an unprecedented eighth year of peacetime growth without a recession


( SINV ( S-TPC-1 ( S ( NP-SBJ ( PRP We ) ) ( VP ( VBP 've ) ( VP ( VBN gotten ) ( PP-CLR ( IN through ) ( NP ( CD two ) ( NN stock ) ( NN market ) ( NNS crashes ) ) ) ) ) ) ( CC and ) ( S ( NP-SBJ ( PRP we ) ) ( VP ( VBP 've ) ( VP ( VBN gone ) ( PP-CLR ( IN through ) ( NP ( DT an ) ( NN election ) ) ) ( PP ( IN without ) ( NP ( DT any ) ( JJ major ) ( NNS problems ) ) ) ) ) ) ) ( VP ( VBZ says ) ) ( NP-SBJ ( NP ( NNP David ) ( NNP Hale ) ) ( NP ( NP ( DT an ) ( NN economist ) ) ( PP ( IN of ) ( NP ( NNP Kemper ) ( NNP Financial ) ( NNPS Services ) ) ) ) ) )

We 've gotten through two stock market crashes and we 've gone through an election without any major problems says David Hale an economist of Kemper Financial Services


( S ( NP-SBJ ( PRP I ) ) ( VP ( VBP think ) ( SBAR ( S ( NP-SBJ-1 ( PRP you ) ) ( VP ( VBP have ) ( S ( VP ( TO to ) ( VP ( VB give ) ( NP ( NNP Greenspan ) ) ( NP ( DT a ) ( JJ good ) ( NN rating ) ) ) ) ) ) ) ) ) )

I think you have to give Greenspan a good rating


( S ( CC But ) ( NP-SBJ ( JJ such ) ( NN caution ) ) ( VP ( VBZ is ) ( NP-PRD ( NP ( DT no ) ( NN guarantee ) ) ( PP ( IN against ) ( NP ( NNS mistakes ) ) ) ) ) )

But such caution is no guarantee against mistakes


( S ( NP-SBJ ( NP ( DT The ) ( NNP Fed ) ( POS 's ) ) ( NN reluctance ) ( S ( VP ( TO to ) ( VP ( VB ease ) ( NP ( NN credit ) ) ) ) ) ) ( ADVP-TMP ( RB now ) ) ( VP ( MD could ) ( VP ( VB be ) ( VP ( VBG laying ) ( NP ( DT the ) ( NN groundwork ) ) ( PP-CLR ( IN for ) ( NP ( NP ( DT a ) ( JJ new ) ( NN recession ) ) ( VP ( ADVP ( RB perhaps ) ) ( VBG starting ) ( NP-TMP ( JJ early ) ( JJ next ) ( NN year ) ) ) ) ) ) ) ) )

The Fed 's reluctance to ease credit now could be laying the groundwork for a new recession perhaps starting early next year


( S ( SBAR-ADV ( IN If ) ( S ( NP-SBJ ( DT that ) ) ( VP ( VBZ happens ) ) ) ) ( NP-SBJ ( NNP Chairman ) ( NNP Greenspan ) ) ( VP ( MD could ) ( ADVP ( RB well ) ) ( VP ( VB become ) ( NP-PRD ( DT an ) ( JJ open ) ( NN target ) ) ) ) )

If that happens Chairman Greenspan could well become an open target


( S ( ADVP-TMP ( RB Already ) ) ( NP-SBJ ( NNP Congress ) ) ( VP ( VBZ is ) ( VP ( VBG toying ) ( PP-CLR ( IN with ) ( NP ( NP ( NN legislation ) ) ( SBAR ( S ( VP ( TO to ) ( VP ( VB curb ) ( NP ( NP ( DT the ) ( NNP Fed ) ( POS 's ) ) ( NN independence ) ) ) ) ) ) ) ) ) ) )

Already Congress is toying with legislation to curb the Fed 's independence


( S ( SBAR-ADV ( IN If ) ( S ( NP-SBJ ( DT the ) ( NN economy ) ) ( VP ( VBZ turns ) ( ADVP-CLR ( RB down ) ) ) ) ) ( NP-SBJ ( JJ such ) ( NNS proposals ) ) ( VP ( MD could ) ( VP ( VB gain ) ( NP ( JJ strong ) ( NN momentum ) ) ) ) )

If the economy turns down such proposals could gain strong momentum


( S ( PP ( IN Despite ) ( NP ( NP ( NP ( NNS politicians ) ( POS ' ) ) ( NN hand-wringing ) ) ( PP ( IN about ) ( NP ( DT the ) ( JJ federal ) ( NN budget ) ) ) ) ) ( NP-SBJ ( DT the ) ( NN government ) ) ( VP ( VBD ended ) ( NP ( JJ fiscal ) ( CD 1989 ) ) ( PP ( IN with ) ( NP ( NP ( DT a ) ( ADJP ( QP ( CD 152.08 ) ( CD billion ) ) ) ( NN deficit ) ) ( NP ( NP ( IN about ) ( DT the ) ( JJ same ) ) ( PP ( IN as ) ( NP ( DT the ) ( CD two ) ( JJ previous ) ( NNS years ) ) ) ) ) ) ) )

Despite politicians ' hand-wringing about the federal budget the government ended fiscal 1989 with a 152.08 billion deficit about the same as the two previous years


( S ( ADVP ( RB Even ) ) ( NP-SBJ ( NNP White ) ( NNP House ) ( NN budget ) ( NN director ) ( NNP Richard ) ( NNP Darman ) ) ( VP ( VBD had ) ( NP ( NP ( NN trouble ) ) ( S-NOM ( VP ( VBG finding ) ( NP ( DT a ) ( NN silver ) ( NN lining ) ) ( PP-LOC-CLR ( IN in ) ( NP ( DT the ) ( NN report ) ) ) ) ) ) ) )

Even White House budget director Richard Darman had trouble finding a silver lining in the report


( S-2 ( S ( NP-SBJ ( PRP I ) ) ( VP ( VBP suppose ) ( SBAR ( S ( NP-SBJ ( PRP you ) ) ( VP ( MD could ) ( VP ( VB say ) ( SBAR ( S ( NP-SBJ ( DT the ) ( JJ good ) ( NN news ) ) ( VP ( VBZ is ) ( SBAR-PRD ( IN that ) ( S ( NP-SBJ ( DT the ) ( NNS deficits ) ) ( VP ( VBP are ) ( RB not ) ( VP ( VBG heading ) ( ADVP-DIR ( IN up ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ( PRN ( S ( NP-SBJ ( PRP he ) ) ( VP ( VBD said ) ) ) ) ( CC but ) ( S ( NP-SBJ-1 ( PRP you ) ) ( VP ( MD ca ) ( RB n't ) ( VP ( VB be ) ( VP ( VBN satisfied ) ( PP-CLR ( IN with ) ( NP ( NP ( NNS deficits ) ) ( PP-LOC ( IN at ) ( NP ( DT this ) ( NN level ) ) ) ) ) ) ) ) ) ( CC and ) ( S ( NP-SBJ ( PRP we ) ) ( VP ( VBP 're ) ( RB not ) ) ) )

I suppose you could say the good news is that the deficits are not heading up he said but you ca n't be satisfied with deficits at this level and we 're not


( S ( NP-SBJ ( DT The ) ( JJ federal ) ( NN deficit ) ) ( VP ( VP ( VBD was ) ( NP-PRD-1 ( QP ( CD 155.15 ) ( CD billion ) ) ) ( PP-TMP-2 ( IN in ) ( NP ( CD 1988 ) ) ) ) ( CC and ) ( VP ( NP-PRD=1 ( QP ( CD 149.69 ) ( CD billion ) ) ) ( PP-TMP=2 ( IN in ) ( NP ( CD 1987 ) ) ) ) ) )

The federal deficit was 155.15 billion in 1988 and 149.69 billion in 1987


( S ( NP-SBJ ( DT The ) ( CD 1989 ) ( NN deficit ) ) ( VP ( MD would ) ( VP ( VB have ) ( VP ( VBN been ) ( ADJP-PRD ( NP-ADV ( QP ( RB nearly ) ( CD 10 ) ( CD billion ) ) ) ( JJR larger ) ) ( SBAR-ADV ( SINV ( VBD had ) ( NP-SBJ-1 ( DT the ) ( NN government ) ) ( VP ( VBN been ) ( ADJP-PRD ( JJ able ) ( S ( VP ( TO to ) ( VP ( VB spend ) ( NP ( NP ( RB as ) ( RB much ) ) ( SBAR ( IN as ) ( S ( NP-SBJ ( NNP Congress ) ) ( VP ( VBD intended ) ) ) ) ) ( PP-CLR ( IN on ) ( S-NOM ( VP ( NN cleaning ) ( PRT ( RP up ) ) ( NP ( DT the ) ( NN thrift ) ( NN industry ) ) ) ) ) ( SBAR-TMP ( IN before ) ( S ( NP-SBJ ( DT the ) ( NN year ) ) ( VP ( VBD ended ) ( PP-TMP ( IN on ) ( NP ( NNP Sept. ) ( CD 30 ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

The 1989 deficit would have been nearly 10 billion larger had the government been able to spend as much as Congress intended on cleaning up the thrift industry before the year ended on Sept. 30


( S ( SBAR-PRP ( IN Because ) ( S ( NP-SBJ ( DT the ) ( NNP Resolution ) ( NNP Trust ) ( NNP Corp ) ) ( VP ( MD could ) ( RB n't ) ( VP ( VB spend ) ( NP ( DT the ) ( NN money ) ) ( ADVP-MNR ( RB fast ) ( RB enough ) ) ) ) ) ) ( NP-SBJ-1 ( DT the ) ( NN savings-and-loan ) ( NNS outlays ) ) ( VP ( VBD were ) ( VP ( VBN pushed ) ( PP-CLR ( IN into ) ( NP ( JJ fiscal ) ( CD 1990 ) ) ) ) ) )

Because the Resolution Trust Corp could n't spend the money fast enough the savings-and-loan outlays were pushed into fiscal 1990


( S ( ADVP ( RB Nevertheless ) ) ( NP-SBJ ( DT the ) ( CD 1989 ) ( NN deficit ) ) ( ADVP-TMP ( RB still ) ) ( VP ( VBD exceeded ) ( NP ( NP ( DT the ) ( ADJP ( QP ( CD 136 ) ( CD billion ) ) ) ( NN target ) ) ( VP ( VBN set ) ( PP ( IN by ) ( NP-LGS ( DT the ) ( NNP Gramm-Rudman ) ( NN deficit-reduction ) ( NN law ) ) ) ) ) ( PP-CLR ( IN by ) ( NP ( QP ( CD 16 ) ( CD billion ) ) ) ) ( NP-ADV ( NP ( DT a ) ( NN reminder ) ) ( PP ( IN of ) ( NP ( NP ( DT that ) ( NN law ) ( POS 's ) ) ( NNS shortcomings ) ) ) ) ) )

Nevertheless the 1989 deficit still exceeded the 136 billion target set by the Gramm-Rudman deficit-reduction law by 16 billion a reminder of that law 's shortcomings


( S ( NP-SBJ ( DT The ) ( NN law ) ) ( VP ( VBZ sets ) ( NP ( NP ( DT a ) ( NN deficit ) ( NN target ) ) ( PP ( IN of ) ( NP ( QP ( CD 100 ) ( CD billion ) ) ) ) ( PP ( IN for ) ( NP ( JJ fiscal ) ( CD 1990 ) ) ) ) ) )

The law sets a deficit target of 100 billion for fiscal 1990


( S ( NP-SBJ-1 ( NP ( DT A ) ( JJ partisan ) ( NN fight ) ) ( PP ( IN over ) ( S-NOM ( VP ( VBG cutting ) ( NP ( JJ capital-gains ) ( NNS taxes ) ) ) ) ) ) ( VP ( VBZ has ) ( VP ( VBN slowed ) ( NP ( NP ( DT the ) ( NN progress ) ) ( PP ( IN of ) ( NP ( CD 1990 ) ( NN deficit-reduction ) ( NN legislation ) ) ) ) ( PP-CLR ( ADVP ( RB almost ) ) ( TO to ) ( NP ( DT a ) ( NN halt ) ) ) ( S-ADV ( VP ( VBG triggering ) ( NP ( NP ( JJ across-the-board ) ( NN spending ) ( NNS cuts ) ) ( PP-LOC ( IN under ) ( NP ( DT the ) ( NNP Gramm-Rudman ) ( NN law ) ) ) ) ) ) ) ) )

A partisan fight over cutting capital-gains taxes has slowed the progress of 1990 deficit-reduction legislation almost to a halt triggering across-the-board spending cuts under the Gramm-Rudman law


( S ( NP-SBJ-1 ( NP ( DT The ) ( NNP White ) ( NNP House ) ) ( CC and ) ( NP ( NP ( DT the ) ( JJ Democratic ) ( NN leadership ) ) ( PP-LOC ( IN in ) ( NP ( NNP Congress ) ) ) ) ) ( VP ( VBP blame ) ( NP ( DT each ) ( JJ other ) ) ( PP-CLR ( IN for ) ( S-NOM ( VP ( VBG turning ) ( NP ( JJ capital-gains ) ( NNS taxes ) ) ( PP-CLR ( IN into ) ( NP ( PDT such ) ( DT a ) ( JJ divisive ) ( NN issue ) ) ) ( NP-TMP ( DT this ) ( NN year ) ) ) ) ) ) )

The White House and the Democratic leadership in Congress blame each other for turning capital-gains taxes into such a divisive issue this year


( S ( NP-SBJ ( DT Neither ) ( NN side ) ) ( VP ( VBD showed ) ( NP ( NP ( DT any ) ( NN sign ) ) ( PP ( IN of ) ( S-NOM ( VP ( VBG retreating ) ) ) ) ) ) )

Neither side showed any sign of retreating


( S ( S-ADV ( VP ( VBG Meeting ) ( PP-CLR ( IN with ) ( NP ( NNS reporters ) ) ) ) ) ( NP-TMP ( NNP Friday ) ) ( NP-SBJ-2 ( NNP Mr. ) ( NNP Darman ) ) ( ADVP ( RB again ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( PRP he ) ) ( VP ( MD would ) ( VP ( RB rather ) ( VP ( VB live ) ( PP-CLR ( IN with ) ( NP ( JJ across-the-board ) ( NN spending ) ( NNS cuts ) ) ) ) ( IN than ) ( VP ( VB accept ) ( NP ( NP ( DT a ) ( JJ deficit-reduction ) ( NN bill ) ) ( PP ( IN like ) ( NP ( NP ( DT the ) ( CD one ) ) ( VP ( VBN passed ) ( PP ( IN by ) ( NP-LGS ( DT the ) ( NNP House ) ) ) ) ( SBAR ( WHNP-1 ( WDT which ) ) ( S ( VP ( MD would ) ( VP ( VB increase ) ( NP ( NP ( NN spending ) ) ( PP-TMP ( IN in ) ( NP ( JJ future ) ( NNS years ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Meeting with reporters Friday Mr. Darman again said he would rather live with across-the-board spending cuts than accept a deficit-reduction bill like the one passed by the House which would increase spending in future years


( S ( S-ADV ( VP ( VBG Underscoring ) ( NP ( NP ( DT the ) ( NN size ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( NNS deficits ) ) ( PP ( IN of ) ( NP ( DT the ) ( JJ past ) ( JJ few ) ( NNS years ) ) ) ) ) ) ) ) ( NP-SBJ-1 ( DT the ) ( NNP Treasury ) ( NN report ) ) ( VP ( VBD showed ) ( SBAR ( IN that ) ( S ( PP-TMP ( IN for ) ( NP ( DT the ) ( JJ first ) ( NN time ) ) ) ( NP-SBJ ( NP ( NP ( NN interest ) ) ( VP ( VBN paid ) ( PP ( IN on ) ( NP ( DT the ) ( JJ public ) ( NN debt ) ) ) ) ) ( NP ( QP ( CD 240.86 ) ( CD billion ) ) ) ) ( VP ( VBD exceeded ) ( NP ( NP ( NN spending ) ) ( PP ( IN on ) ( NP ( NP ( NNP Social ) ( NNP Security ) ) ( NP ( DT the ) ( ADJP ( JJ single ) ( JJS largest ) ) ( NN government ) ( NN program ) ) ) ) ) ) ) ) ) )

Underscoring the size of the deficits of the past few years the Treasury report showed that for the first time interest paid on the public debt 240.86 billion exceeded spending on Social Security the single largest government program


( S ( S-TPC-1 ( PP ( IN In ) ( NP ( DT all ) ) ) ( NP-SBJ ( JJ federal ) ( NNS outlays ) ) ( VP ( VBD amounted ) ( PP-CLR ( TO to ) ( NP ( QP ( CD 1.143 ) ( CD trillion ) ) ) ) ( PP-TMP ( IN in ) ( NP ( CD 1989 ) ) ) ( ADVP ( RB up ) ( NP ( CD 7.5 ) ( NN % ) ) ( PP ( IN from ) ( NP-TMP ( DT the ) ( JJ previous ) ( NN year ) ) ) ) ) ) ( NP-SBJ ( DT the ) ( NNP Treasury ) ) ( VP ( VBD said ) ) )

In all federal outlays amounted to 1.143 trillion in 1989 up 7.5 % from the previous year the Treasury said


( S ( NP-SBJ ( NNP Federal ) ( NNS revenues ) ) ( VP ( VBD rose ) ( NP-EXT ( CD 9 ) ( NN % ) ) ( PP-DIR ( TO to ) ( NP ( QP ( CD 990.79 ) ( CD billion ) ) ) ) ) )

Federal revenues rose 9 % to 990.79 billion


( S ( NP-SBJ ( DT The ) ( NNP Treasury ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ-1 ( NP ( DT a ) ( NN surge ) ) ( PP-LOC ( IN in ) ( NP ( NN tax ) ( NNS receipts ) ) ) ( VP ( VBN noted ) ( ADVP-TMP ( RBR earlier ) ( PP ( IN in ) ( NP ( DT the ) ( NN year ) ) ) ) ) ) ( VP ( VBD did ) ( RB n't ) ( VP ( VB turn ) ( PRT ( RP out ) ) ( S ( VP ( TO to ) ( VP ( VB be ) ( ADJP-PRD ( ADJP ( RB quite ) ( RB as ) ( JJ strong ) ) ( SBAR ( IN as ) ( S ( NP-SBJ ( PRP it ) ) ( ADVP-TMP ( RB first ) ) ( VP ( VBD appeared ) ) ) ) ) ) ) ) ) ) ) ) ) )

The Treasury said a surge in tax receipts noted earlier in the year did n't turn out to be quite as strong as it first appeared


( S ( S ( NP-SBJ ( DT The ) ( NNP Treasury ) ) ( VP ( VBD marked ) ( PRT ( RP up ) ) ( NP ( PRP$ its ) ( NN forecast ) ) ( PP-EXT ( IN by ) ( NP ( QP ( CD 17 ) ( CD million ) ) ) ) ( PP-TMP ( IN in ) ( NP ( NNP July ) ) ) ) ) ( CC but ) ( S ( NP-SBJ-1 ( DT that ) ) ( VP ( VBD proved ) ( S ( VP ( TO to ) ( VP ( VB be ) ( ADJP-PRD ( NP-ADV ( QP ( IN about ) ( CD 5 ) ( CD billion ) ) ) ( RB too ) ( JJ optimistic ) ) ) ) ) ) ) )

The Treasury marked up its forecast by 17 million in July but that proved to be about 5 billion too optimistic


( S ( NP-SBJ ( DT The ) ( NN government ) ) ( VP ( VBD ran ) ( NP ( NP ( DT a ) ( NN deficit ) ) ( PP ( IN of ) ( NP ( QP ( CD 6.16 ) ( CD billion ) ) ) ) ) ( PP-TMP ( IN in ) ( NP ( NNP September ) ) ) ( PP ( VBN compared ) ( PP ( IN with ) ( NP ( NP ( DT a ) ( NN surplus ) ) ( PP ( IN of ) ( NP ( QP ( CD 10.17 ) ( CD billion ) ) ) ) ( PP-TMP ( IN in ) ( NP ( NNP September ) ( CD 1988 ) ) ) ) ) ) ) )

The government ran a deficit of 6.16 billion in September compared with a surplus of 10.17 billion in September 1988


( S ( NP-SBJ ( NP ( NNS Outlays ) ) ( PP ( IN for ) ( NP ( DT the ) ( NN month ) ) ) ) ( VP ( VBD totaled ) ( NP ( NP ( QP ( CD 105.39 ) ( CD billion ) ) ) ( ADVP ( RB up ) ( PP ( IN from ) ( NP ( QP ( CD 87.57 ) ( CD billion ) ) ) ( ADVP-TMP ( NP ( DT a ) ( NN year ) ) ( RBR earlier ) ) ) ) ) ) )

Outlays for the month totaled 105.39 billion up from 87.57 billion a year earlier


( S ( NP-SBJ ( DT The ) ( NN increase ) ) ( VP ( VBZ reflects ) ( NP ( NP ( NP ( VBG spending ) ) ( PP ( IN on ) ( NP ( DT the ) ( NN S&L ) ( NN rescue ) ) ) ) ( CONJP ( RB as ) ( RB well ) ( IN as ) ) ( NP ( NP ( NN payroll ) ( CC and ) ( NNP Social ) ( NNP Security ) ( NNS checks ) ) ( VP ( ADVP ( RB normally ) ) ( VBN issued ) ( PP-TMP ( IN in ) ( NP ( NNP October ) ) ) ) ( SBAR ( WHNP-2 ( WDT that ) ) ( S ( VP ( VBD were ) ( VP ( VBN issued ) ( PP-TMP ( IN in ) ( NP ( NNP September ) ) ) ( NP-TMP ( DT this ) ( NN year ) ) ( SBAR-PRP ( IN because ) ( S ( NP-SBJ ( NNP Oct. ) ( CD 1 ) ) ( VP ( VBD fell ) ( PP-TMP-CLR ( IN on ) ( NP ( DT a ) ( NNP Sunday ) ) ) ) ) ) ) ) ) ) ) ) ) )

The increase reflects spending on the S&L rescue as well as payroll and Social Security checks normally issued in October that were issued in September this year because Oct. 1 fell on a Sunday


( S ( NP-SBJ ( NNS Revenues ) ) ( VP ( VBD were ) ( NP-PRD ( NP ( QP ( CD 99.23 ) ( CD billion ) ) ) ( ADVP ( RB up ) ( PP ( IN from ) ( NP ( QP ( CD 97.74 ) ( CD billion ) ) ) ( ADVP-TMP ( NP ( DT a ) ( NN year ) ) ( RBR earlier ) ) ) ) ) ) )

Revenues were 99.23 billion up from 97.74 billion a year earlier


( S ( S-TPC-1 ( NP-SBJ ( NP ( DT The ) ( ADJP ( JJ West ) ( JJ German ) ) ( NN machinery ) ( CC and ) ( NN plant ) ( NN equipment ) ( NN industry ) ( POS 's ) ) ( NNS orders ) ) ( VP ( VBD rose ) ( NP-EXT ( DT an ) ( JJ inflation-adjusted ) ( CD 1 ) ( NN % ) ) ( PP-TMP ( IN in ) ( NP ( NNP September ) ) ) ( PP-DIR ( IN from ) ( NP-TMP ( DT a ) ( NN year ) ( RBR earlier ) ) ) ( PP ( IN despite ) ( NP ( NP ( DT a ) ( JJ sharp ) ( NN drop ) ) ( PP-LOC ( IN in ) ( NP ( JJ foreign ) ( NNS orders ) ) ) ) ) ) ) ( NP-SBJ ( NP ( DT the ) ( NNP German ) ( NNP Association ) ) ( PP ( IN of ) ( NP ( NNP Machinery ) ( NNPS Makers ) ) ) ) ( VP ( VBD said ) ) )

The West German machinery and plant equipment industry 's orders rose an inflation-adjusted 1 % in September from a year earlier despite a sharp drop in foreign orders the German Association of Machinery Makers said


( S-1 ( PP-TMP ( IN Before ) ( NP ( NP ( NN adjustment ) ) ( PP ( IN for ) ( NP ( NN inflation ) ) ) ) ) ( PRN ( S ( NP-SBJ ( DT the ) ( NN association ) ) ( VP ( VBD said ) ) ) ) ( NP-SBJ ( NNS orders ) ) ( VP ( VBD were ) ( ADVP-PRD ( RB up ) ( NP ( DT a ) ( JJ nominal ) ( CD 5 ) ( NN % ) ) ) ) )

Before adjustment for inflation the association said orders were up a nominal 5 %


( S ( SBAR-ADV ( IN While ) ( S ( NP-SBJ ( JJ domestic ) ( NNS orders ) ) ( VP ( VBD climbed ) ( NP-EXT ( NP ( DT an ) ( VBN adjusted ) ( CD 8 ) ( NN % ) ) ( CC and ) ( NP ( DT a ) ( JJ nominal ) ( CD 11 ) ( NN % ) ) ) ( PP-TMP ( IN in ) ( NP ( NNP September ) ) ) ) ) ) ( NP-SBJ ( JJ foreign ) ( NNS orders ) ) ( VP ( VP ( VBD declined ) ( NP-EXT-1 ( CD 4 ) ( NN % ) ) ( PP-TMP-2 ( IN after ) ( NP ( NN inflation ) ) ) ) ( CC and ) ( VP ( NP-EXT=1 ( CD 1 ) ( NN % ) ) ( PP=2 ( IN on ) ( NP ( DT a ) ( JJ nominal ) ( NN basis ) ) ) ) ) )

While domestic orders climbed an adjusted 8 % and a nominal 11 % in September foreign orders declined 4 % after inflation and 1 % on a nominal basis


( S ( PP-TMP ( IN In ) ( NP ( DT the ) ( JJ third ) ( NN quarter ) ) ) ( NP-SBJ ( NNS orders ) ) ( VP ( VBD rose ) ( NP-EXT ( NP ( DT a ) ( JJ real ) ( CD 5 ) ( NN % ) ) ( CC and ) ( NP ( DT a ) ( JJ nominal ) ( CD 9 ) ( NN % ) ) ) ) )

In the third quarter orders rose a real 5 % and a nominal 9 %


( S ( NP-SBJ ( JJ Domestic ) ( NNS orders ) ) ( VP ( VBD were ) ( ADVP-PRD ( RB up ) ( NP ( NP ( DT a ) ( JJ real ) ( CD 11 ) ( NN % ) ) ( CC and ) ( NP ( DT a ) ( JJ nominal ) ( CD 14 ) ( NN % ) ) ) ) ( SBAR-ADV ( IN while ) ( S ( NP-SBJ ( JJ foreign ) ( NNS orders ) ) ( VP ( VBD rose ) ( NP-EXT ( NP ( DT a ) ( JJ real ) ( CD 1 ) ( NN % ) ) ( CC and ) ( NP ( DT a ) ( JJ nominal ) ( CD 5 ) ( NN % ) ) ) ) ) ) ) )

Domestic orders were up a real 11 % and a nominal 14 % while foreign orders rose a real 1 % and a nominal 5 %


( S ( S-TPC-1 ( NP-SBJ ( NP ( DT The ) ( JJ current ) ( NN account ) ( NN deficit ) ) ( PP-LOC ( IN on ) ( NP ( NP ( NP ( NNP France ) ( POS 's ) ) ( NN balance ) ) ( PP ( IN of ) ( NP ( NNS payments ) ) ) ) ) ) ( VP ( VBD narrowed ) ( PP-DIR ( TO to ) ( NP ( NP ( QP ( CD 1.48 ) ( CD billion ) ) ( JJ French ) ( NNS francs ) ) ( PRN ( NP ( QP ( CD 236.8 ) ( CD million ) ) ) ) ) ( PP-TMP ( IN in ) ( NP ( NNP August ) ) ) ) ( PP-DIR ( IN from ) ( NP ( DT a ) ( VBN revised ) ( QP ( CD 2.1 ) ( CD billion ) ) ( NNS francs ) ) ( PP-TMP ( IN in ) ( NP ( NNP July ) ) ) ) ) ) ( NP-SBJ ( DT the ) ( NNP Finance ) ( NNP Ministry ) ) ( VP ( VBD said ) ) )

The current account deficit on France 's balance of payments narrowed to 1.48 billion French francs 236.8 million in August from a revised 2.1 billion francs in July the Finance Ministry said


( S ( ADVP-TMP ( RB Previously ) ) ( NP-SBJ-1 ( DT the ) ( NNP July ) ( NN figure ) ) ( VP ( VBD was ) ( VP ( VBN estimated ) ( PP-CLR ( IN at ) ( NP ( NP ( DT a ) ( NN deficit ) ) ( PP ( IN of ) ( NP ( QP ( CD 613 ) ( CD million ) ) ( NNS francs ) ) ) ) ) ) ) )

Previously the July figure was estimated at a deficit of 613 million francs


( S ( NP-SBJ ( NP ( RB Seasonally ) ( VBN adjusted ) ( NNS figures ) ) ( PP ( IN for ) ( NP ( NNP August ) ) ) ) ( VP ( VBD were ) ( RB n't ) ( ADJP-PRD ( JJ available ) ) ( PP-PRP ( IN because ) ( IN of ) ( NP ( NP ( DT a ) ( JJ recent ) ( NN strike ) ) ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( VP ( VBZ has ) ( VP ( VBN disrupted ) ( NP ( NP ( DT the ) ( NN ministry ) ( POS 's ) ) ( NNS data ) ( NN collection ) ) ) ) ) ) ) ) ) )

Seasonally adjusted figures for August were n't available because of a recent strike that has disrupted the ministry 's data collection


( S ( NP-SBJ-1 ( NP ( NNP Stuart ) ( NNP E. ) ( NNP Eizenstat ) ) ( NP ( NP ( DT a ) ( NN partner ) ) ( PP-LOC ( IN in ) ( NP ( NP ( DT the ) ( NNP Washington ) ( NN law ) ( NN firm ) ) ( PP ( IN of ) ( NP ( NNP Powell ) ( NNP Goldstein ) ( NNP Frazer ) ( CC & ) ( NNP Murphy ) ) ) ) ) ) ) ( VP ( VBD was ) ( VP ( VBN named ) ( S ( NP-PRD ( NP ( DT a ) ( NN director ) ) ( PP ( IN of ) ( NP ( DT this ) ( NN utility ) ( VBG holding ) ( NN company ) ) ) ) ) ( S-ADV ( VP ( VBG increasing ) ( NP ( NN board ) ( NN membership ) ) ( PP-CLR ( TO to ) ( NP ( CD 14 ) ) ) ) ) ) ) )

Stuart E. Eizenstat a partner in the Washington law firm of Powell Goldstein Frazer & Murphy was named a director of this utility holding company increasing board membership to 14


( S ( NP-SBJ ( NP ( NNP Charles ) ( NNP D ) ( NNP Way ) ) ( NP ( NP ( NN president ) ) ( PP ( IN of ) ( NP ( DT this ) ( NN restaurant ) ( NN operator ) ) ) ) ) ( VP ( VBD assumed ) ( NP ( NP ( DT the ) ( JJ additional ) ( NN post ) ) ( PP ( IN of ) ( NP ( NN chief ) ( NN executive ) ( NN officer ) ) ) ) ) )

Charles D Way president of this restaurant operator assumed the additional post of chief executive officer


( S ( NP-SBJ ( PRP He ) ) ( VP ( VBZ succeeds ) ( NP ( NNP Alvin ) ( NNP A. ) ( NNP McCall ) ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( NN position ) ) ) ) )

He succeeds Alvin A. McCall in the position


( S ( NP-SBJ ( NNP Mr. ) ( NNP McCall ) ) ( VP ( MD will ) ( VP ( VB remain ) ( NP-PRD ( NN chairman ) ) ) ) )

Mr. McCall will remain chairman


( S ( NP-SBJ-1 ( DT The ) ( VBG following ) ( NNS issues ) ) ( VP ( VBD were ) ( ADVP-TMP ( RB recently ) ) ( VP ( VBN filed ) ( PP-CLR ( IN with ) ( NP ( DT the ) ( NNPS Securities ) ( CC and ) ( NNP Exchange ) ( NNP Commission ) ) ) ) ) )

The following issues were recently filed with the Securities and Exchange Commission


( NP ( NP ( NNP ECI ) ( NNP Environmental ) ( NNP Inc. ) ) ( NP ( NP ( JJ initial ) ( NN offering ) ) ( PP ( IN of ) ( NP ( NP ( QP ( CD 1.1 ) ( CD million ) ) ( NNS shares ) ) ( SBAR ( WHPP-1 ( IN of ) ( WHNP ( WDT which ) ) ) ( S ( S ( NP-SBJ ( NNP ECI ) ) ( VP ( MD will ) ( VP ( VB sell ) ( NP ( NP ( CD 990,000 ) ) ) ) ) ) ( CC and ) ( S ( NP-SBJ ( NNS co-founders ) ) ( VP ( MD will ) ( VP ( VB sell ) ( NP ( NP ( CD 110,000 ) ( NNS shares ) ) ) ) ) ) ) ) ) ) ) ( PP ( IN via ) ( NP ( NNP Oppenheimer ) ( CC & ) ( NNP Co ) ) ) )

ECI Environmental Inc. initial offering of 1.1 million shares of which ECI will sell 990,000 and co-founders will sell 110,000 shares via Oppenheimer & Co


( NP ( NP ( NNP Fastenal ) ( NNP Co. ) ) ( NP ( NP ( VBN proposed ) ( NN offering ) ) ( PP ( IN of ) ( NP ( CD 400,000 ) ( JJ common ) ( NNS shares ) ) ) ( PP ( IN by ) ( NP ( NNS holders ) ) ) ) ( PP ( IN via ) ( NP ( NP ( NNP Robert ) ( NNP W. ) ( NNP Baird ) ( CC & ) ( NNP Co. ) ) ( CC and ) ( NP ( NNP William ) ( NNP Blair ) ( CC & ) ( NNP Co ) ) ) ) )

Fastenal Co. proposed offering of 400,000 common shares by holders via Robert W. Baird & Co. and William Blair & Co


( NP ( NP ( NNP First ) ( NNP Capital ) ( NNP Holdings ) ( NNP Corp. ) ) ( NP ( NP ( VBN proposed ) ( NN offering ) ) ( PP ( IN of ) ( NP ( NP ( QP ( CD 275 ) ( CD million ) ) ) ( PP ( IN of ) ( NP ( VBG floating ) ( NN rate ) ( JJ senior ) ( NNS notes ) ) ) ) ) ) ( PP ( IN via ) ( NP ( NNP Shearson ) ( NNP Lehman ) ( NNP Hutton ) ( NNP Inc ) ) ) )

First Capital Holdings Corp. proposed offering of 275 million of floating rate senior notes via Shearson Lehman Hutton Inc


( NP ( NP ( NNP Industrial ) ( NNP Funding ) ( NNP Corp. ) ) ( NP ( NP ( JJ initial ) ( NN offering ) ) ( PP ( IN of ) ( NP ( JJ common ) ( NN stock ) ) ) ) ( PP ( IN via ) ( NP ( NP ( NNP Alex ) ( NNP Brown ) ( CC & ) ( NNPS Sons ) ( NNP Inc. ) ) ( CC and ) ( NP ( NNP Piper ) ( NNP Jaffray ) ( CC & ) ( NNP Hopwood ) ) ) ) )

Industrial Funding Corp. initial offering of common stock via Alex Brown & Sons Inc. and Piper Jaffray & Hopwood