( S ( NP-TMP ( JJ Last ) ( NNP Thursday ) ) ( NP-SBJ-1 ( NNP Merrill ) ( NNP Lynch ) ( NNS securities ) ( NN analyst ) ( NNP Peter ) ( NNP Falco ) ) ( VP ( VBD downgraded ) ( NP ( NP ( PRP$ his ) ( NN investment ) ( NN rating ) ) ( PP ( IN on ) ( NP ( DT the ) ( NN firm ) ) ) ) ( PP ( VBG according ) ( PP ( TO to ) ( NP ( NNP Dow ) ( NNP Jones ) ( NNP Professional ) ( NNP Investors ) ( NNP Report ) ) ) ) ( S-ADV ( VP ( VBG citing ) ( NP ( NP ( DT a ) ( NN slowdown ) ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( JJ credit-reporting ) ( NN business ) ) ) ) ) ) ) )

Last Thursday Merrill Lynch securities analyst Peter Falco downgraded his investment rating on the firm according to Dow Jones Professional Investors Report citing a slowdown in the credit-reporting business


( S ( NP-SBJ ( PRP He ) ) ( VP ( VP ( VBD cut ) ( NP ( PRP$ his ) ( NN rating ) ) ( PP-CLR ( TO to ) ( NP ( DT a ) ( JJ short-term ) ( NN hold ) ) ) ( PP-CLR ( IN from ) ( NP ( JJ above-average ) ( NN performer ) ) ) ) ( CC and ) ( VP ( VBD reduced ) ( NP ( PRP$ his ) ( CD 1990 ) ( NNS earnings ) ( NN estimate ) ) ) ) )

He cut his rating to a short-term hold from above-average performer and reduced his 1990 earnings estimate


( S ( NP-SBJ-1 ( NNP Mr. ) ( NNP Falco ) ) ( VP ( VBZ continues ) ( S ( VP ( TO to ) ( VP ( VB rank ) ( S ( NP-SBJ ( DT the ) ( NN stock ) ) ( NP-PRD ( DT a ) ( JJ longterm ) ( NN buy ) ) ) ) ) ) ) )

Mr. Falco continues to rank the stock a longterm buy


( S ( NP-SBJ ( DT The ) ( NN stock ) ) ( VP ( VBD slid ) ( NP-EXT ( CD 1.875 ) ) ( PP ( IN on ) ( NP ( QP ( JJR more ) ( IN than ) ( CD four ) ( NNS times ) ) ( JJ average ) ( JJ daily ) ( NN volume ) ) ) ) )

The stock slid 1.875 on more than four times average daily volume


( S ( NP-SBJ ( DT The ) ( NN stock ) ) ( VP ( VBD received ) ( NP ( DT another ) ( NN blow ) ) ( PP-TMP ( IN on ) ( NP ( NP ( NNP Friday ) ) ( SBAR ( WHADVP-2 ( WRB when ) ) ( S ( NP-SBJ ( NNP Goldman ) ( NNP Sachs ) ( NN analyst ) ( NNP Eric ) ( NNP Philo ) ) ( VP ( VBD advised ) ( SBAR ( IN that ) ( S ( NP-SBJ ( NP ( NNS investors ) ) ( PP ( IN with ) ( NP ( JJ short-term ) ( NNS horizons ) ) ) ) ( VP ( MD should ) ( VP ( VB avoid ) ( NP ( NNP Dun ) ( CC & ) ( NNP Bradstreet ) ( NN stock ) ) ( SBAR-PRP ( IN because ) ( S ( NP-SBJ-1 ( PRP it ) ) ( VP ( VBZ is ) ( ADJP-PRD ( JJ unlikely ) ( S ( VP ( TO to ) ( VP ( VB outperform ) ( NP ( DT the ) ( NN market ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

The stock received another blow on Friday when Goldman Sachs analyst Eric Philo advised that investors with short-term horizons should avoid Dun & Bradstreet stock because it is unlikely to outperform the market


( S ( NP-SBJ ( DT The ) ( NN stock ) ) ( VP ( VBD fell ) ( NP-EXT ( CD 75 ) ( NNS cents ) ) ) )

The stock fell 75 cents


( S ( S ( NP-SBJ ( NN Insider ) ( NN selling ) ) ( VP ( VBZ is ) ( RB not ) ( ADJP-PRD ( JJ unusual ) ) ( PP-LOC ( IN at ) ( NP ( NNP Dun ) ( CC & ) ( NNP Bradstreet ) ) ) ) ) ( S ( PP ( IN in ) ( NP ( NN fact ) ) ) ( NP-SBJ ( NP ( DT the ) ( JJ recent ) ( NN pace ) ) ( PP ( IN of ) ( NP ( NN selling ) ) ) ) ( VP ( VBZ is ) ( ADJP-PRD ( RB just ) ( RB about ) ( NN average ) ( PP ( IN for ) ( NP ( DT the ) ( NN company ) ) ) ) ( PP ( VBG according ) ( PP ( TO to ) ( NP ( NP ( NNS figures ) ) ( VP ( VBN compiled ) ( PP ( IN by ) ( NP-LGS ( NP ( NNP Invest\/Net ) ) ( NP ( NP ( DT a ) ( NP ( NP ( NNP North ) ( NNP Miami ) ) ( NP ( NNP Fla. ) ) ) ( NN firm ) ) ( SBAR ( WHNP-3 ( WDT that ) ) ( S ( VP ( VBZ specializes ) ( PP-CLR ( IN in ) ( S-NOM ( VP ( VBG tracking ) ( CC and ) ( VBG analyzing ) ( NP ( NNP SEC ) ( NN insider ) ( NNS filings ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Insider selling is not unusual at Dun & Bradstreet in fact the recent pace of selling is just about average for the company according to figures compiled by Invest\/Net a North Miami Fla. firm that specializes in tracking and analyzing SEC insider filings


( SINV ( S-TPC-1 ( CC But ) ( NP-SBJ ( JJ previous ) ( NNS sales ) ) ( VP ( VBP have ) ( ADVP-TMP ( RB often ) ) ( VP ( VBN been ) ( NP-PRD ( NP ( NNS sales ) ) ( PP ( IN of ) ( NP ( NP ( NNS shares ) ) ( VP ( VP ( VBN purchased ) ( PP ( IN through ) ( NP ( NP ( DT the ) ( NN exercise ) ) ( PP ( IN of ) ( NP ( NN stock ) ( NNS options ) ) ) ) ) ) ( CC and ) ( VP ( VBN sold ) ( ADVP-TMP ( NP ( CD six ) ( NNS months ) ) ( RB later ) ) ( ADVP-TMP ( RB as ) ( RB soon ) ( SBAR ( IN as ) ( S ( VP ( VBN allowed ) ) ) ) ) ) ) ) ) ) ) ) ) ( VP ( VBD said ) ) ( NP-SBJ ( NP ( NNP Robert ) ( NNP Gabele ) ) ( NP ( NP ( NN president ) ) ( PP ( IN of ) ( NP ( NNP Invest\/Net ) ) ) ) ) )

But previous sales have often been sales of shares purchased through the exercise of stock options and sold six months later as soon as allowed said Robert Gabele president of Invest\/Net


( S ( S-TPC-2 ( NP-SBJ-1 ( DT The ) ( RBS most ) ( JJ recent ) ( NNS sales ) ) ( VP ( VBP do ) ( RB n't ) ( VP ( VB appear ) ( S ( VP ( TO to ) ( VP ( VB be ) ( ADJP-PRD ( JJ option-related ) ) ) ) ) ) ) ) ( NP-SBJ ( PRP he ) ) ( VP ( VBD said ) ) )

The most recent sales do n't appear to be option-related he said


TASTY PROFITS


( S ( NP-SBJ ( NP ( NNP Michael ) ( NN A. ) ( NNP Miles ) ) ( NP ( NP ( JJ chief ) ( JJ executive ) ( NN officer ) ) ( PP ( IN of ) ( NP ( NP ( NNP Philip ) ( NNP Morris ) ( NNP Cos ) ) ( NNP Kraft ) ( NNP General ) ( NNP Foods ) ( NN unit ) ) ) ) ) ( VP ( VBD bought ) ( NP ( NP ( CD 6,000 ) ( NNS shares ) ) ( PP ( IN of ) ( NP ( DT the ) ( NN company ) ) ) ) ( PP-TMP ( IN on ) ( NP ( NNP Sept. ) ( CD 22 ) ) ) ( PP-CLR ( IN for ) ( NP ( NP ( CD 157 ) ) ( NP-ADV ( DT each ) ) ) ) ) )

Michael A. Miles chief executive officer of Philip Morris Cos Kraft General Foods unit bought 6,000 shares of the company on Sept. 22 for 157 each


( S ( NP-SBJ ( DT The ) ( ADJP ( CD 942,000 ) ) ( NN purchase ) ) ( VP ( VBD raised ) ( NP ( PRP$ his ) ( NNS holdings ) ) ( PP-DIR ( TO to ) ( NP ( CD 74,000 ) ( NNS shares ) ) ) ) )

The 942,000 purchase raised his holdings to 74,000 shares


( S ( NP-SBJ ( DT The ) ( NN stock ) ) ( VP ( VBD split ) ( ADVP ( RB four-for-one ) ) ( PP-TMP ( IN on ) ( NP ( NNP Oct. ) ( CD 10 ) ) ) ) )

The stock split four-for-one on Oct. 10


( S ( NP-SBJ ( NP ( NNP Mr. ) ( NNP Miles ) ( VBZ 's ) ) ( ADJP ( RB newly ) ( VBN purchased ) ) ( NNS shares ) ) ( VP ( VBP are ) ( ADVP-TMP ( RB now ) ) ( ADJP-PRD ( JJ worth ) ( NP ( CD 1,068,000 ) ) ) ( PP ( VBN based ) ( PP ( IN on ) ( NP ( NP ( NP ( NNP Philip ) ( NNP Morris ) ( POS 's ) ) ( NN closing ) ( NN price ) ) ( PP ( IN of ) ( NP ( NP ( CD 44.50 ) ) ( ADVP ( RB up ) ( NP ( CD 62.5 ) ( NNS cents ) ) ) ) ) ( PP-LOC ( IN in ) ( NP ( JJ composite ) ( NN trading ) ) ) ( PP-LOC ( IN on ) ( NP ( DT the ) ( NNP New ) ( NNP York ) ( NNP Stock ) ( NNP Exchange ) ) ) ( NP-TMP ( NN yesterday ) ) ) ) ) ) )

Mr. Miles 's newly purchased shares are now worth 1,068,000 based on Philip Morris 's closing price of 44.50 up 62.5 cents in composite trading on the New York Stock Exchange yesterday


( S ( NP-SBJ ( NP ( DT A ) ( NN spokesman ) ) ( PP ( IN for ) ( NP ( NNP Mr. ) ( NNP Miles ) ) ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( PRP he ) ) ( VP ( VBD bought ) ( NP ( DT the ) ( NNS shares ) ) ( SBAR-PRP ( IN because ) ( S ( NP-SBJ ( PRP he ) ) ( VP ( VBD felt ) ( SBAR ( S ( NP-SBJ ( PRP they ) ) ( VP ( VBD were ) ( NP-PRD ( DT a ) ( JJ good ) ( NN investment ) ) ) ) ) ) ) ) ) ) ) ) )

A spokesman for Mr. Miles said he bought the shares because he felt they were a good investment


( S ( S ( NP-SBJ ( DT The ) ( NN executive ) ) ( VP ( VBD made ) ( NP ( PRP$ his ) ( NNS purchases ) ) ( PP-TMP ( ADVP ( RB shortly ) ) ( IN before ) ( S-NOM ( VP ( VBG being ) ( VP ( VBN named ) ( PP-CLR ( TO to ) ( NP ( PRP$ his ) ( JJ current ) ( NP ( JJ chief ) ( JJ executive ) ( NN officer ) ( POS 's ) ) ( NN position ) ) ) ) ) ) ) ) ) ( S ( ADVP-TMP ( RB formerly ) ) ( NP-SBJ ( PRP he ) ) ( VP ( VBD was ) ( NP-PRD ( NP ( NNP Kraft ) ( NNP General ) ( NNP Foods ) ( POS ' ) ) ( JJ chief ) ( NN operating ) ( NN officer ) ) ) ) )

The executive made his purchases shortly before being named to his current chief executive officer 's position formerly he was Kraft General Foods ' chief operating officer


( S-HLN ( VP ( VBG SHEDDING ) ( NP ( NN GLITTER ) ) ) )

SHEDDING GLITTER


( S ( NP-SBJ ( NP ( CD Two ) ( NNS directors ) ) ( PP ( IN of ) ( NP ( NP ( NNP Pegasus ) ( NNP Gold ) ( NNP Inc. ) ) ( NP ( DT a ) ( NP ( NP ( NNP Spokane ) ) ( NP ( NNP Wash. ) ) ) ( NNS precious-metals ) ( NN mining ) ( NN firm ) ) ) ) ) ( VP ( VBD sold ) ( NP ( NP ( JJS most ) ) ( PP ( IN of ) ( NP ( NP ( PRP$ their ) ( NNS holdings ) ) ( PP ( IN in ) ( NP ( DT the ) ( NN company ) ) ) ) ) ) ( NP-TMP ( NNP Aug. ) ( CD 31 ) ) ) )

Two directors of Pegasus Gold Inc. a Spokane Wash. precious-metals mining firm sold most of their holdings in the company Aug. 31


( S ( NP-SBJ-1 ( NNP John ) ( NNP J. ) ( NNP Crabb ) ) ( VP ( VBD sold ) ( NP ( CD 4,500 ) ( NNS shares ) ) ( PP-CLR ( IN for ) ( NP ( NP ( CD 11.13 ) ) ( NP-ADV ( DT each ) ) ) ) ( S-ADV ( VP ( VBG leaving ) ( NP ( PRP himself ) ) ( PP-CLR ( IN with ) ( NP ( NP ( DT a ) ( NN stake ) ) ( PP ( IN of ) ( NP ( CD 500 ) ( NNS shares ) ) ) ) ) ) ) ) )

John J. Crabb sold 4,500 shares for 11.13 each leaving himself with a stake of 500 shares


( S ( NP-SBJ ( PRP He ) ) ( VP ( VBD received ) ( NP ( CD 50,085 ) ) ) )

He received 50,085


( S ( NP-SBJ ( NNP Peter ) ( NNP Kutney ) ) ( VP ( VBD sold ) ( NP ( NP ( CD 5,000 ) ( NNS shares ) ) ( NP ( NP ( DT all ) ) ( PP ( IN of ) ( NP ( PRP$ his ) ( NNS holdings ) ) ) ) ) ( PP-CLR ( IN for ) ( NP ( NP ( NP ( CD 11.38 ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ( CC or ) ( NP ( CD 56,900 ) ) ) ) ) )

Peter Kutney sold 5,000 shares all of his holdings for 11.38 a share or 56,900


( S ( NP-SBJ ( NP ( NNP Gary ) ( NNP Straub ) ) ( NP ( NP ( JJ corporate ) ( NN counsel ) ) ( PP ( IN for ) ( NP ( DT the ) ( NN company ) ) ) ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( DT the ) ( NNS directors ) ) ( VP ( VBD sold ) ( PP ( IN for ) ( NP ( JJ personal ) ( JJ financial ) ( NNS reasons ) ) ) ) ) ) ) )

Gary Straub corporate counsel for the company said the directors sold for personal financial reasons


( S ( NP-SBJ-1 ( DT Both ) ( NNS insiders ) ) ( VP ( VBD declined ) ( S ( VP ( TO to ) ( VP ( VB comment ) ) ) ) ) )

Both insiders declined to comment


( S ( PP-LOC ( IN On ) ( NP ( NNP Wall ) ( NNP Street ) ) ) ( S ( NP-SBJ ( NNP Merrill ) ( NNP Lynch ) ( CC & ) ( NNP Co. ) ( NN analyst ) ( NNP Daniel ) ( NNP A. ) ( NNP Roling ) ) ( VP ( VBZ rates ) ( S ( NP-SBJ ( DT the ) ( NN stock ) ) ( ADJP-PRD ( JJ neutral ) ) ) ) ) ( CC and ) ( S ( NP-SBJ ( NNP Drexel ) ( NNP Burnham ) ( NNP Lambert ) ( NNP Inc. ) ) ( VP ( VBZ lists ) ( NP ( PRP it ) ) ( PP-CLR ( IN as ) ( NP ( DT a ) ( NN buy ) ) ) ) ) )

On Wall Street Merrill Lynch & Co. analyst Daniel A. Roling rates the stock neutral and Drexel Burnham Lambert Inc. lists it as a buy


( SINV ( S-TPC-1 ( NP-SBJ ( NNP Pegasus ) ( NNP Gold ) ) ( VP ( VBZ has ) ( VP ( VBN been ) ( PP-LOC-PRD ( IN on ) ( NP ( NP ( DT a ) ( NN lot ) ) ( PP ( IN of ) ( NP ( JJ recommended ) ( NNS lists ) ) ) ) ) ( PP ( IN as ) ( NP ( NP ( DT a ) ( JJ junior ) ( NN growth ) ( NN company ) ) ( VP ( VBG stepping ) ( PP-DIR ( IN into ) ( NP ( DT the ) ( JJ big ) ( NNS leagues ) ) ) ) ) ) ) ) ) ( VP ( VBZ says ) ) ( NP-SBJ ( NP ( NNP Marty ) ( NNP McNeill ) ) ( NP ( NP ( NNS metals ) ( NN analyst ) ) ( PP-LOC ( IN at ) ( NP ( NP ( NNP Dominick ) ( CC & ) ( NNP Dominick ) ) ( NP ( DT a ) ( NNP New ) ( NNP York ) ( NN investment ) ( NN firm ) ) ) ) ) ) )

Pegasus Gold has been on a lot of recommended lists as a junior growth company stepping into the big leagues says Marty McNeill metals analyst at Dominick & Dominick a New York investment firm


( S ( S ( NP-SBJ ( PRP It ) ) ( VP ( VBZ 's ) ( UCP-PRD ( NP ( DT a ) ( JJ good ) ( NN company ) ) ( CC and ) ( VP ( VBG growing ) ) ) ) ) ( S ( NP-SBJ ( EX there ) ) ( VP ( VBZ 's ) ( NP-PRD ( NP ( NN nothing ) ) ( SBAR ( WHNP-2 ( WDT that ) ) ( S ( VP ( MD would ) ( VP ( VB warrant ) ( SBAR ( IN that ) ( S ( NP-SBJ-1 ( PRP it ) ) ( VP ( VB be ) ( VP ( VBN sold ) ) ) ) ) ) ) ) ) ) ) ) )

It 's a good company and growing there 's nothing that would warrant that it be sold


( S ( NP-TMP ( NN Yesterday ) ) ( PP-LOC ( IN in ) ( NP ( JJ composite ) ( NN trading ) ) ) ( PP-LOC ( IN on ) ( NP ( DT the ) ( NNP American ) ( NNP Stock ) ( NNP Exchange ) ) ) ( NP-SBJ ( NNP Pegasus ) ) ( VP ( VBD closed ) ( PP-CLR ( IN at ) ( NP ( NP ( CD 10.125 ) ) ( ADVP ( RB up ) ( NP ( CD 12.5 ) ( NNS cents ) ) ) ) ) ) )

Yesterday in composite trading on the American Stock Exchange Pegasus closed at 10.125 up 12.5 cents


( S ( NP-SBJ ( JJ Blue-chip ) ( NNS advertisers ) ) ( VP ( VBP have ) ( NP ( NP ( NN plenty ) ) ( PP ( IN of ) ( NP ( NP ( NNS complaints ) ) ( PP ( IN about ) ( NP ( NP ( NP ( DT the ) ( NNS magazines ) ) ( SBAR ( S ( NP-SBJ ( PRP they ) ) ( VP ( VBP advertise ) ( PP-LOC ( IN in ) ) ) ) ) ) ) ) ( VP ( VBG ranging ) ( PP-CLR ( PP ( IN from ) ( NP ( JJ inadequate ) ( NN consumer ) ( NN research ) ) ) ( PP ( TO to ) ( NP ( NP ( NN ad ) ( NN clutter ) ) ( CC and ) ( NP ( NP ( DT a ) ( ADJP ( RB seemingly ) ( JJ unchecked ) ) ( NN proliferation ) ) ( PP ( IN of ) ( NP ( JJ special ) ( NN interest ) ( NNS magazines ) ) ) ) ) ) ) ) ) ) ) ) )

Blue-chip advertisers have plenty of complaints about the magazines they advertise in ranging from inadequate consumer research to ad clutter and a seemingly unchecked proliferation of special interest magazines


( S ( NP-SBJ ( NP ( NN Criticism ) ) ( PP ( IN from ) ( NP ( NP ( JJ such ) ( JJ big ) ( NNS advertisers ) ) ( PP ( IN as ) ( NP ( NP ( NNP Estee ) ( NNP Lauder ) ( NNP Inc. ) ) ( NP ( NNP Colgate-Palmolive ) ( NNP Co. ) ) ( CC and ) ( NP ( NNP Seagram ) ( NNP Co. ) ) ) ) ) ) ) ( VP ( VBD put ) ( NP ( DT a ) ( NN damper ) ) ( PP-PUT ( IN on ) ( NP ( NP ( DT the ) ( NN euphoria ) ) ( PP-LOC ( IN at ) ( NP ( NP ( DT the ) ( NNP American ) ( NNP Magazine ) ( NNP Conference ) ) ( ADVP-LOC ( RB here ) ) ) ) ) ) ) )

Criticism from such big advertisers as Estee Lauder Inc. Colgate-Palmolive Co. and Seagram Co. put a damper on the euphoria at the American Magazine Conference here


( S ( NP-SBJ ( DT The ) ( NN conference ) ) ( VP ( VBD opened ) ( NP-TMP ( NNP Monday ) ) ( PP ( IN with ) ( NP ( NP ( JJ glowing ) ( NNS reports ) ) ( PP ( IN about ) ( NP ( NP ( NP ( NN consumer ) ( NNS magazines ) ( POS ' ) ) ( NN growth ) ) ( PP-LOC ( IN in ) ( NP ( NP ( NN circulation ) ) ( CC and ) ( NP ( NN advertising ) ( NN revenue ) ) ) ) ( PP-TMP ( IN in ) ( NP ( DT the ) ( JJ past ) ( NN year ) ) ) ) ) ) ) ) )

The conference opened Monday with glowing reports about consumer magazines ' growth in circulation and advertising revenue in the past year


( SINV ( S-TPC-1 ( NP-SBJ ( NNS Magazines ) ) ( VP ( VBP are ) ( RB not ) ( VP ( VBG providing ) ( NP ( PRP us ) ) ( NP ( NP ( JJ in-depth ) ( NN information ) ) ( PP ( IN on ) ( NP ( NN circulation ) ) ) ) ) ) ) ( VP ( VBD said ) ) ( NP-SBJ ( NP ( NNP Edgar ) ( NNP Bronfman ) ( NNP Jr. ) ) ( NP ( NP ( NP ( NN president ) ) ( CC and ) ( NP ( NN chief ) ( NN operating ) ( NN officer ) ) ) ( PP ( IN of ) ( NP ( NNP Seagram ) ) ) ) ) ( PP-LOC ( IN in ) ( NP ( DT a ) ( NN panel ) ( NN discussion ) ) ) )

Magazines are not providing us in-depth information on circulation said Edgar Bronfman Jr. president and chief operating officer of Seagram in a panel discussion


( SBARQ ( WHADVP-1 ( WRB How ) ) ( SQ ( VBP do ) ( NP-SBJ ( NNS readers ) ) ( VP ( VB feel ) ( PP-CLR ( IN about ) ( NP ( DT the ) ( NN magazine ) ) ) ) ) )

How do readers feel about the magazine


( SBARQ ( WHADVP-1 ( WRB How ) ( RB deeply ) ) ( SQ ( VBP do ) ( NP-SBJ ( PRP they ) ) ( VP ( VB read ) ( NP ( PRP it ) ) ) ) )

How deeply do they read it


( S ( NP-SBJ ( NN Research ) ) ( VP ( VBZ does ) ( RB n't ) ( VP ( VB tell ) ( NP ( PRP us ) ) ( SBAR ( IN whether ) ( S ( NP-SBJ ( NNS people ) ) ( ADVP ( RB actually ) ) ( VP ( VBP do ) ( VP ( VB read ) ( NP ( NP ( DT the ) ( NNS magazines ) ) ( SBAR ( S ( NP-SBJ ( PRP they ) ) ( VP ( VBP subscribe ) ( PP-CLR ( TO to ) ) ) ) ) ) ) ) ) ) ) ) )

Research does n't tell us whether people actually do read the magazines they subscribe to


( S ( NP-SBJ ( NP ( NNP Reuben ) ( NNP Mark ) ) ( NP ( NP ( JJ chief ) ( NN executive ) ) ( PP ( IN of ) ( NP ( NNP Colgate-Palmolive ) ) ) ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( NNS advertisers ) ) ( VP ( VBP lack ) ( NP ( NP ( JJ detailed ) ( ADJP ( JJ demographic ) ( CC and ) ( JJ geographic ) ) ( NNS breakdowns ) ) ( PP ( IN of ) ( NP ( NP ( NNS magazines ) ( POS ' ) ) ( NNS audiences ) ) ) ) ) ) ) ) )

Reuben Mark chief executive of Colgate-Palmolive said advertisers lack detailed demographic and geographic breakdowns of magazines ' audiences


( S ( NP-SBJ ( PRP We ) ) ( VP ( VBP need ) ( NP ( NP ( NN research ) ) ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( VP ( VBZ convinces ) ( NP ( PRP us ) ) ( SBAR ( SBAR ( IN that ) ( S ( NP-SBJ ( NNS magazines ) ) ( VP ( VBP are ) ( NP-PRD ( NP ( DT a ) ( JJ real ) ( NN value ) ) ( PP-LOC ( IN in ) ( NP ( NP ( NN reader ) ( POS 's ) ) ( NNS lives ) ) ) ) ) ) ) ( SBAR ( IN that ) ( S ( NP-SBJ-2 ( NNS readers ) ) ( VP ( VBP are ) ( ADVP ( RB really ) ) ( VP ( JJ involved ) ) ) ) ) ) ) ) ) ) ) )

We need research that convinces us that magazines are a real value in reader 's lives that readers are really involved


( S ( NP-SBJ ( DT The ) ( NNS critics ) ) ( ADVP ( RB also ) ) ( VP ( VBD lambasted ) ( NP ( DT the ) ( NN magazine ) ( NN industry ) ) ( PP-CLR ( IN for ) ( NP ( NP ( NP ( NN something ) ) ( SBAR ( S ( NP-SBJ ( NNS executives ) ) ( ADVP-TMP ( RB often ) ) ( VP ( VBP are ) ( ADJP-PRD ( RB very ) ( JJ proud ) ( PP ( IN of ) ) ) ) ) ) ) ( NP ( NP ( DT the ) ( NN growth ) ) ( PP-LOC ( IN in ) ( NP ( NN magazine ) ( NNS titles ) ) ) ( PP-TMP ( IN during ) ( NP ( DT the ) ( CD 1980s ) ) ) ) ) ) ) )

The critics also lambasted the magazine industry for something executives often are very proud of the growth in magazine titles during the 1980s


( S ( NP-SBJ ( NP ( NNP Leonard ) ( NNP Lauder ) ) ( NP ( NP ( NP ( NN president ) ) ( CC and ) ( NP ( JJ chief ) ( JJ executive ) ( NN officer ) ) ) ( PP ( IN of ) ( NP ( NNP Estee ) ( NNP Lauder ) ) ) ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( NN consumer ) ( NNS magazines ) ) ( VP ( VBP are ) ( VP ( VBG suffering ) ( PP-CLR ( IN from ) ( SBAR-NOM ( WHNP-3 ( WP what ) ) ( S ( NP-SBJ ( PRP he ) ) ( VP ( VBD called ) ( S ( NP-PRD ( NP ( NN niche-itis ) ) ( NP ( NP ( DT the ) ( JJ increasing ) ( NN number ) ) ( PP ( IN of ) ( NP ( NP ( NNS magazines ) ) ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( VP ( VBP target ) ( NP ( NP ( DT the ) ( JJ idosyncratic ) ( NNS interests ) ) ( PP ( IN of ) ( NP ( NNS readers ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Leonard Lauder president and chief executive officer of Estee Lauder said consumer magazines are suffering from what he called niche-itis the increasing number of magazines that target the idosyncratic interests of readers


( SINV ( S-TPC-1 ( NP-SBJ ( NN Niche-itis ) ) ( VP ( VBZ fragments ) ( NP ( PRP$ our ) ( NN advertising ) ( NNS dollars ) ) ) ) ( VP ( VBD said ) ) ( NP-SBJ ( NNP Mr. ) ( NNP Lauder ) ) )

Niche-itis fragments our advertising dollars said Mr. Lauder


( S ( NP-SBJ-1 ( PRP We ) ) ( VP ( VBP are ) ( VP ( VBG being ) ( VP ( VBN over-magazined ) ) ) ) )

We are being over-magazined


( S ( NP-SBJ-2 ( PRP We ) ) ( VP ( VBP are ) ( ADVP-TMP ( RB constantly ) ) ( VP ( VBN faced ) ( PP-CLR ( IN with ) ( S-NOM ( VP ( VBG deciding ) ( SBAR-NOM ( WHNP-1 ( NP ( WDT which ) ( NNS partnerships ) ) ( PRN ( PP ( IN with ) ( NP ( NNS magazines ) ) ) ) ) ( S ( NP-SBJ ( PRP we ) ) ( VP ( MD can ) ( VP ( VB keep ) ) ) ) ) ) ) ) ) ) )

We are constantly faced with deciding which partnerships with magazines we can keep


( S ( NP-SBJ ( PRP He ) ) ( VP ( VBD added ) ( S ( S ( NP-SBJ ( EX There ) ) ( VP ( VBZ 's ) ( ADVP ( RB probably ) ) ( ADVP ( RB even ) ) ( NP-PRD ( NP ( DT a ) ( NN magazine ) ) ( PP ( IN for ) ( NP ( JJ left-handed ) ( NNS golfers ) ) ) ) ) ) ( CC but ) ( S ( NP-SBJ ( DT the ) ( JJ general ) ( NN interest ) ( NN magazine ) ) ( VP ( VBZ is ) ( NP-PRD ( NP ( NN something ) ) ( SBAR ( S ( NP-SBJ ( PRP we ) ( DT all ) ) ( VP ( VBP miss ) ) ) ) ) ) ) ( CC and ) ( S ( NP-SBJ ( PRP it ) ) ( VP ( MD should ) ( VP ( VB come ) ( ADVP-DIR ( RP back ) ) ) ) ) ) ) )

He added There 's probably even a magazine for left-handed golfers but the general interest magazine is something we all miss and it should come back


( S ( NP-SBJ ( NNP Mr. ) ( NNP Lauder ) ) ( ADVP ( RB also ) ) ( VP ( VP ( VBD attacked ) ( SBAR-NOM ( WHNP-1 ( WP what ) ) ( S ( NP-SBJ ( PRP he ) ) ( VP ( VBZ sees ) ( PP-CLR ( IN as ) ( NP ( NP ( DT the ) ( JJ wide ) ( NN imitation ) ) ( PP ( IN of ) ( NP ( NP ( NNP Elle ) ) ( NP ( NP ( DT a ) ( NN fashion ) ( NN magazine ) ) ( VP ( VBN published ) ( PP ( IN by ) ( NP-LGS ( NNP Diamandis ) ( NNP Communications ) ( NNP Inc. ) ) ) ) ) ) ) ) ) ) ) ) ) ( CC and ) ( VP ( VBD criticized ) ( NP ( NP ( DT the ) ( NN practice ) ) ( PP ( IN of ) ( S-NOM ( VP ( VBG stacking ) ( NP ( NNS ads ) ) ( PP-LOC ( IN at ) ( NP ( NP ( DT the ) ( NN front ) ) ( PP ( IN of ) ( NP ( NNS magazines ) ) ) ) ) ) ) ) ) ) ) )

Mr. Lauder also attacked what he sees as the wide imitation of Elle a fashion magazine published by Diamandis Communications Inc. and criticized the practice of stacking ads at the front of magazines


( S ( S-TPC-1 ( NP-SBJ-2 ( NNS Readers ) ) ( VP ( VBP do ) ( RB n't ) ( VP ( VB want ) ( S ( VP ( TO to ) ( VP ( VB face ) ( NP ( NP ( PDT all ) ( DT those ) ( NN ad ) ( NNS pages ) ) ( PP-LOC ( IN at ) ( NP ( NP ( DT the ) ( NN front ) ) ( PP ( IN of ) ( NP ( DT a ) ( NN magazine ) ) ) ) ) ) ) ) ) ) ) ) ( NP-SBJ ( PRP he ) ) ( VP ( VBD said ) ) )

Readers do n't want to face all those ad pages at the front of a magazine he said


( S ( NP-SBJ-1 ( NN Magazine ) ( NNS editors ) ) ( VP ( VBD did ) ( RB not ) ( VP ( VB take ) ( NP ( DT the ) ( NNS criticisms ) ) ( S-ADV ( VP ( VBG lying ) ( PRT ( RP down ) ) ) ) ) ) )

Magazine editors did not take the criticisms lying down


( SINV ( S-TPC ( NP-SBJ ( PRP We ) ) ( VP ( VBP spend ) ( NP ( DT a ) ( NN fortune ) ) ( PP-CLR ( IN on ) ( NP ( NN research ) ( NN information ) ) ) ) ) ( VP ( VBD said ) ) ( NP-SBJ ( NP ( NNP Steve ) ( NNP Burzon ) ) ( NP ( NP ( NN publisher ) ) ( PP ( IN of ) ( NP ( NP ( NNP Meredith ) ( NNP Corp. ) ( POS 's ) ) ( NNP Metropolitan ) ( NNP Home ) ) ) ) ) )

We spend a fortune on research information said Steve Burzon publisher of Meredith Corp. 's Metropolitan Home


( S ( CC And ) ( NP-SBJ ( NP ( NNP Tina ) ( NNP Brown ) ) ( NP ( NP ( NN editor ) ) ( PP ( IN of ) ( NP ( NP ( NNP Conde ) ( NNP Nast ) ( NNP Publications ) ( NNP Inc. ) ( POS 's ) ) ( NNP Vanity ) ( NNP Fair ) ) ) ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ-1 ( NNS advertisers ) ) ( VP ( VBP are ) ( ADVP-TMP ( RB frequently ) ) ( VP ( VBN asked ) ( S ( VP ( TO to ) ( VP ( VB take ) ( NP ( NP ( NN advertising ) ( NNS positions ) ) ( PP-LOC ( IN in ) ( NP ( NP ( DT the ) ( NN back ) ) ( PP ( IN of ) ( NP ( PRP$ her ) ( NN magazine ) ) ) ) ) ) ( S-PRP ( VP ( TO to ) ( VP ( VB relieve ) ( NP ( NN ad ) ( NN clutter ) ) ) ) ) ) ) ) ) ) ) ) ) )

And Tina Brown editor of Conde Nast Publications Inc. 's Vanity Fair said advertisers are frequently asked to take advertising positions in the back of her magazine to relieve ad clutter


( S ( S-TPC-1 ( CC But ) ( NP-SBJ ( NNS advertisers ) ) ( VP ( MD would ) ( RB n't ) ( VP ( VB think ) ( PP-CLR ( IN of ) ( NP ( PRP it ) ) ) ) ) ) ( NP-SBJ ( PRP she ) ) ( VP ( VBD said ) ) )

But advertisers would n't think of it she said


( S ( NP-SBJ ( NP ( NNP Bernard ) ( NNP Leser ) ) ( NP ( NP ( NN president ) ) ( PP ( IN of ) ( NP ( NNP Conde ) ( NNP Nast ) ) ) ) ) ( VP ( VBD added ) ( S ( NP-SBJ ( PRP$ Our ) ( NN research ) ) ( VP ( VBZ shows ) ( SBAR ( S ( NP-SBJ ( PRP we ) ) ( VP ( VBP sell ) ( NP ( NP ( JJR more ) ) ( PP ( IN of ) ( NP ( PRP$ our ) ( JJR heavier ) ( NNS issues ) ) ) ) ( SBAR-PRP ( IN because ) ( S ( NP-SBJ ( NNS readers ) ) ( VP ( VBP believe ) ( SBAR ( S ( NP-SBJ ( PRP they ) ) ( VP ( VBP are ) ( VP ( VBG getting ) ( NP ( JJR more ) ) ( PP ( IN for ) ( SBAR-NOM ( WHNP-1 ( WP what ) ) ( S ( NP-SBJ ( PRP they ) ) ( VP ( VBP pay ) ( PP-CLR ( IN for ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Bernard Leser president of Conde Nast added Our research shows we sell more of our heavier issues because readers believe they are getting more for what they pay for


( S ( NP-SBJ-1 ( NNP Procter ) ( CC & ) ( NNP Gamble ) ( NNP Co. ) ) ( S-ADV ( VP ( VBN helped ) ( PP ( IN by ) ( NP-LGS ( NP ( NP ( DT a ) ( NN gain ) ) ( PP ( IN from ) ( NP ( DT a ) ( NN lawsuit ) ( NN settlement ) ) ) ) ( CC and ) ( NP ( NP ( JJ continued ) ( NN growth ) ) ( ADVP-LOC ( RB overseas ) ) ) ) ) ) ) ( VP ( VBD posted ) ( NP ( NP ( DT a ) ( ADJP ( CD 38 ) ( NN % ) ) ( NN rise ) ) ( PP-LOC ( IN in ) ( NP ( JJ fiscal ) ( JJ first-quarter ) ( JJ net ) ( NN income ) ) ) ) ) )

Procter & Gamble Co. helped by a gain from a lawsuit settlement and continued growth overseas posted a 38 % rise in fiscal first-quarter net income


( S ( NP-SBJ ( NP ( NN Net ) ) ( PP ( IN for ) ( NP ( NP ( DT the ) ( NN quarter ) ) ( VP ( VBD ended ) ( NP-TMP ( NNP Sept. ) ( CD 30 ) ) ) ) ) ) ( VP ( VBD climbed ) ( PP-DIR ( TO to ) ( NP ( NP ( QP ( CD 551 ) ( CD million ) ) ) ( CC or ) ( NP ( NP ( CD 1.66 ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ) ( PP-DIR ( IN from ) ( NP ( NP ( QP ( CD 400 ) ( CD million ) ) ) ( CC or ) ( NP ( NP ( NP ( CD 1.18 ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ( ADVP-TMP ( NP ( DT a ) ( NN year ) ) ( RBR earlier ) ) ) ) ) ) )

Net for the quarter ended Sept. 30 climbed to 551 million or 1.66 a share from 400 million or 1.18 a share a year earlier


( S ( NP-SBJ-2 ( JJ Per-share ) ( NNS figures ) ) ( VP ( VBP have ) ( VP ( VBN been ) ( VP ( VBN adjusted ) ( PP-CLR ( IN for ) ( NP ( NP ( DT a ) ( JJ 2-for-1 ) ( NN stock ) ( NN split ) ) ( ADJP ( JJ effective ) ( NP-TMP ( NNP Oct. ) ( CD 20 ) ) ) ) ) ) ) ) )

Per-share figures have been adjusted for a 2-for-1 stock split effective Oct. 20


( S ( NP-SBJ ( NNS Sales ) ) ( VP ( VBD increased ) ( NP-EXT ( CD 6 ) ( NN % ) ) ( PP-DIR ( TO to ) ( NP ( QP ( CD 5.58 ) ( CD billion ) ) ) ) ( PP-DIR ( IN from ) ( NP ( QP ( CD 5.27 ) ( CD billion ) ) ) ) ) )

Sales increased 6 % to 5.58 billion from 5.27 billion


( S ( NP-SBJ-1 ( NP ( NNS Earnings ) ) ( PP-LOC ( IN at ) ( NP ( DT the ) ( NNS consumer-products ) ( NN giant ) ) ) ) ( VP ( VBD were ) ( VP ( VBN boosted ) ( PP ( IN by ) ( NP-LGS ( NP ( DT a ) ( NN gain ) ) ( PP ( IN of ) ( NP ( NP ( QP ( CD 125 ) ( CD million ) ) ) ( CC or ) ( NP ( NP ( QP ( RB about ) ( CD 25 ) ) ( NNS cents ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ) ( VP ( VBG stemming ) ( PP-DIR ( IN from ) ( NP ( NP ( NP ( JJ last ) ( NN month ) ( POS 's ) ) ( NN settlement ) ) ( PP ( IN of ) ( NP ( NP ( NN litigation ) ) ( PP ( IN with ) ( NP ( NP ( CD three ) ) ( PP ( IN of ) ( NP ( NP ( NNP P&G ) ( POS 's ) ) ( NNS competitors ) ) ) ) ) ( PP ( IN over ) ( NP ( NP ( NNS patents ) ) ( PP ( IN on ) ( NP ( NP ( NNP P&G ) ( POS 's ) ) ( NNP Duncan ) ( NNP Hines ) ( NNS cookies ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Earnings at the consumer-products giant were boosted by a gain of 125 million or about 25 cents a share stemming from last month 's settlement of litigation with three of P&G 's competitors over patents on P&G 's Duncan Hines cookies


( S ( PP ( VBG Excluding ) ( NP ( DT the ) ( NN gain ) ) ) ( NP-SBJ ( NP ( NNP P&G ) ( POS 's ) ) ( NNS earnings ) ) ( VP ( VBD were ) ( ADJP-PRD ( RB close ) ( PP ( TO to ) ( NP ( NP ( NP ( NNS analysts ) ( POS ' ) ) ( NNS predictions ) ) ( PP ( IN of ) ( NP ( NP ( QP ( RB about ) ( CD 1.40 ) ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ( PP ( IN for ) ( NP ( DT the ) ( NN quarter ) ) ) ) ) ) ) )

Excluding the gain P&G 's earnings were close to analysts ' predictions of about 1.40 a share for the quarter


( S ( NP-SBJ ( NNP Wall ) ( NNP Street ) ) ( VP ( VBD had ) ( VP ( VBN expected ) ( NP ( NP ( NP ( DT a ) ( JJ modest ) ( NN rise ) ) ( PP-LOC ( IN in ) ( NP ( NP ( DT the ) ( NN company ) ( POS 's ) ) ( JJ domestic ) ( NNS sales ) ( CC and ) ( NNS earnings ) ) ) ) ( CC and ) ( NP ( NP ( RBR more ) ( JJ substantial ) ( NNS increases ) ) ( PP-LOC ( IN in ) ( NP ( JJ overseas ) ( NNS results ) ) ) ) ) ) ) )

Wall Street had expected a modest rise in the company 's domestic sales and earnings and more substantial increases in overseas results


( S ( S-TPC-1 ( NP-SBJ ( NP ( CD One ) ( NN factor ) ) ( VP ( VBG helping ) ( NP ( NNS sales ) ( CC and ) ( NNS earnings ) ) ) ) ( VP ( VBD was ) ( NP-PRD ( NP ( DT a ) ( ADJP ( CD 3 ) ( NN % ) ) ( NN price ) ( NN rise ) ) ( PP ( IN for ) ( NP ( NP ( JJS most ) ( NNP P&G ) ( NNS products ) ) ( IN except ) ( NP ( NN coffee ) ) ) ) ) ) ) ( NP-SBJ ( NNS analysts ) ) ( VP ( VBD said ) ) )

One factor helping sales and earnings was a 3 % price rise for most P&G products except coffee analysts said


( S ( NP-SBJ ( NP ( NN Unit ) ( NN volume ) ) ( CC or ) ( NP ( NP ( NN amount ) ) ( PP ( IN of ) ( NP ( NNS products ) ) ) ( VP ( VBN shipped ) ) ) ) ( VP ( VBD rose ) ( NP-EXT ( QP ( RB about ) ( CD 11 ) ) ( NN % ) ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( JJ international ) ( NN segment ) ) ) ( PP ( IN with ) ( S-NOM ( NP-SBJ-1 ( NNP P&G ) ) ( VP ( VBG continuing ) ( S ( VP ( TO to ) ( VP ( VB win ) ( NP ( NN market ) ( NN share ) ) ( PP-LOC ( IN in ) ( NP ( NP ( NNP Japan ) ( POS 's ) ) ( NN diaper ) ( CC and ) ( NN detergent ) ( NNS markets ) ) ) ) ) ) ) ) ) ) )

Unit volume or amount of products shipped rose about 11 % in the international segment with P&G continuing to win market share in Japan 's diaper and detergent markets


( S ( NP-SBJ ( NP ( NNP Jay ) ( NNP Freedman ) ) ( NP ( NP ( NN analyst ) ) ( PP ( IN with ) ( NP ( NNP Kidder ) ( NNP Peabody ) ( CC & ) ( NNP Co. ) ) ) ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( NP ( NP ( NNP P&G ) ( POS 's ) ) ( NNP Always ) ( JJ sanitary ) ( NN napkin ) ) ( VP ( VBN sold ) ( PP ( IN under ) ( NP ( DT the ) ( NNP Whisper ) ( NN name ) ) ) ( PP-LOC ( IN in ) ( NP ( NNP Japan ) ) ) ) ) ( VP ( VBZ has ) ( VP ( ADVP-MNR ( RB firmly ) ) ( VBN established ) ( NP ( PRP itself ) ) ( PP-CLR ( IN as ) ( NP ( DT a ) ( JJ leading ) ( NN brand ) ) ) ) ) ) ) ) )

Jay Freedman analyst with Kidder Peabody & Co. said P&G 's Always sanitary napkin sold under the Whisper name in Japan has firmly established itself as a leading brand


( S ( NP-SBJ ( PRP He ) ) ( VP ( VBZ figures ) ( SBAR ( S ( NP-SBJ-1 ( NNP P&G ) ) ( VP ( MD will ) ( VP ( VB expand ) ( NP ( NP ( PRP$ its ) ( JJ personal-care ) ( NN product ) ( NN line ) ) ( PP-LOC ( IN in ) ( NP ( NNP Japan ) ) ) ) ( S-PRP ( VP ( TO to ) ( VP ( VB continue ) ( NP ( DT that ) ( NN momentum ) ) ) ) ) ) ) ) ) ) )

He figures P&G will expand its personal-care product line in Japan to continue that momentum


( S ( NP-SBJ ( NP ( NNP P&G ) ( POS 's ) ) ( NNP U.S. ) ( NNS shipments ) ) ( VP ( VBD were ) ( ADVP-PRD ( RB up ) ( NP ( QP ( RB just ) ( CD 1 ) ) ( NN % ) ) ) ( SBAR-PRP ( ADVP ( RB partly ) ) ( IN because ) ( S ( NP-SBJ-1 ( DT the ) ( NN company ) ) ( VP ( VBD decided ) ( S ( VP ( TO to ) ( VP ( VB shift ) ( NP ( NP ( JJR more ) ( NNS promotions ) ( CC and ) ( NNS sales ) ) ( PP ( IN for ) ( NP ( NN health ) ( CC and ) ( NN beauty ) ( NNS products ) ) ) ) ( PP-DIR ( TO to ) ( NP ( DT the ) ( JJ fiscal ) ( JJ second ) ( NN quarter ) ) ) ) ) ) ) ) ) ) )

P&G 's U.S. shipments were up just 1 % partly because the company decided to shift more promotions and sales for health and beauty products to the fiscal second quarter


( S ( NP-SBJ ( NP ( NNP Hugh ) ( NNP Zurkuhlen ) ) ( NP ( NP ( NN analyst ) ) ( PP ( IN with ) ( NP ( NNP Salomon ) ( NNP Bros. ) ) ) ) ) ( VP ( VBZ predicts ) ( SBAR ( S ( NP-SBJ ( DT the ) ( NN shift ) ) ( VP ( MD will ) ( VP ( VB mean ) ( SBAR ( S ( NP-SBJ ( NP ( NP ( NNP P&G ) ( POS 's ) ) ( NNS sales ) ( NN growth ) ) ( PP-TMP ( IN in ) ( NP ( DT the ) ( JJ second ) ( NN quarter ) ) ) ) ( VP ( MD will ) ( VP ( VB be ) ( PP-LOC-PRD ( IN in ) ( NP ( DT the ) ( JJ double ) ( NNS digits ) ) ) ) ) ) ) ) ) ) ) ) )

Hugh Zurkuhlen analyst with Salomon Bros. predicts the shift will mean P&G 's sales growth in the second quarter will be in the double digits


( SINV ( ADVP ( RB Also ) ) ( VP-TPC-2 ( VBG slowing ) ( NP ( NP ( NN growth ) ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( NNP U.S. ) ) ) ) ) ( VP ( VBD were ) ) ( NP-SBJ ( NP ( JJ lackluster ) ( NNS results ) ) ( PP ( IN for ) ( NP ( NP ( NP ( NNP P&G ) ( POS 's ) ) ( NN cooking ) ( NNS oils ) ) ( SBAR ( WHNP-1 ( WDT which ) ) ( S ( VP ( VBD had ) ( NP ( DT a ) ( JJ strong ) ( JJ year-earlier ) ( JJ first ) ( NN quarter ) ) ) ) ) ) ) ) )

Also slowing growth in the U.S. were lackluster results for P&G 's cooking oils which had a strong year-earlier first quarter


( S ( S-TPC-1 ( NP-SBJ ( NP ( NP ( JJ Last ) ( NN year ) ( POS 's ) ) ( NN drought ) ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( NNP Midwest ) ) ) ) ( VP ( VBD prompted ) ( S ( NP-SBJ ( NNS retailers ) ) ( VP ( TO to ) ( VP ( VB stock ) ( PRT ( RP up ) ) ( PP-CLR ( IN on ) ( NP ( NNS oils ) ) ) ( ADVP-TMP ( RB ahead ) ( PP ( IN of ) ( NP ( JJ anticipated ) ( NN price ) ( NNS increases ) ) ) ) ) ) ) ( S-ADV ( VP ( VBG boosting ) ( NP ( NP ( NNS sales ) ) ( PP ( IN for ) ( NP ( NNP Crisco ) ( CC and ) ( NNP Puritan ) ( NNS oils ) ) ) ) ) ) ) ) ( NP-SBJ ( NNS analysts ) ) ( VP ( VBD said ) ) )

Last year 's drought in the Midwest prompted retailers to stock up on oils ahead of anticipated price increases boosting sales for Crisco and Puritan oils analysts said


( S ( PP ( IN For ) ( NP ( JJ fiscal ) ( CD 1990 ) ) ) ( NP-SBJ ( NNS analysts ) ) ( VP ( VBP expect ) ( S ( NP-SBJ-1 ( NP ( NNP P&G ) ( POS 's ) ) ( NNS sales ) ) ( VP ( TO to ) ( VP ( VB continue ) ( S ( VP ( TO to ) ( VP ( VB grow ) ( PP ( IN with ) ( S-NOM ( NP-SBJ ( NNS earnings ) ) ( VP ( VBG climbing ) ( NP-EXT ( QP ( IN between ) ( CD 15 ) ( NN % ) ( CC and ) ( CD 20 ) ( NN % ) ) ) ) ) ) ) ) ) ) ) ) ) )

For fiscal 1990 analysts expect P&G 's sales to continue to grow with earnings climbing between 15 % and 20 %


( S ( NP-SBJ ( NP ( NNP Lynne ) ( NNP Hyman ) ) ( NP ( NP ( NN vice ) ( NN president ) ) ( PP ( IN of ) ( NP ( NN equity ) ( NN research ) ) ) ( PP ( IN for ) ( NP ( NNP First ) ( NNP Boston ) ( NNP Corp. ) ) ) ) ) ( VP ( VBZ expects ) ( S ( NP-SBJ ( NNP P&G ) ) ( VP ( TO to ) ( VP ( VB post ) ( NP ( NP ( NN net ) ) ( PP ( IN of ) ( NP ( NP ( QP ( RB about ) ( CD 4.20 ) ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ) ( PP-MNR ( IN on ) ( NP ( DT a ) ( JJ post-split ) ( NN basis ) ) ) ) ) ) ) )

Lynne Hyman vice president of equity research for First Boston Corp. expects P&G to post net of about 4.20 a share on a post-split basis


( S ( S-TPC-1 ( CC But ) ( NP-SBJ ( PRP I ) ) ( VP ( VBP 'm ) ( VP ( VBG recognizing ) ( SBAR ( S ( NP-SBJ ( EX there ) ) ( VP ( VBZ 's ) ( NP-PRD ( DT a ) ( JJ good ) ( NN chance ) ( SBAR ( S ( NP-SBJ ( PRP they ) ) ( VP ( MD 'll ) ( VP ( VB do ) ( ADVP-MNR ( ADVP ( NP ( DT a ) ( NN bit ) ) ( RBR better ) ) ( PP ( IN than ) ( NP ( DT that ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ( NP-SBJ ( PRP she ) ) ( VP ( VBZ says ) ) )

But I 'm recognizing there 's a good chance they 'll do a bit better than that she says


( S ( PP-TMP ( IN In ) ( NP ( JJ fiscal ) ( CD 1989 ) ) ) ( NP-SBJ ( NNP P&G ) ) ( VP ( VBD earned ) ( NP ( NP ( NP ( CD 3.56 ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ( VP ( VBN adjusted ) ( PP-CLR ( IN for ) ( NP ( DT the ) ( NN stock ) ( NN split ) ) ) ) ) ) )

In fiscal 1989 P&G earned 3.56 a share adjusted for the stock split


( S ( NP-SBJ ( NP ( CD One ) ( JJ big ) ( NN factor ) ) ( VP ( VBG affecting ) ( NP ( DT the ) ( JJ fiscal ) ( JJ second ) ( NN half ) ) ) ) ( VP ( MD will ) ( VP ( VB be ) ( NP-PRD ( NP ( DT the ) ( JJ new ) ( NN stewardship ) ) ( PP ( IN of ) ( NP ( NP ( NNP Edwin ) ( NNP L. ) ( NNP Artzt ) ) ( SBAR ( WHNP-1 ( WP who ) ) ( S ( VP ( VBZ becomes ) ( NP-PRD ( NP ( NN chairman ) ) ( CC and ) ( NP ( JJ chief ) ( JJ executive ) ( NN officer ) ) ) ( PP-TMP ( IN in ) ( NP ( NNP January ) ) ) ) ) ) ) ) ) ) ) )

One big factor affecting the fiscal second half will be the new stewardship of Edwin L. Artzt who becomes chairman and chief executive officer in January


( S ( PP-PRP ( IN Because ) ( IN of ) ( NP ( NP ( PRP$ his ) ( JJ remarkable ) ( NN success ) ) ( VP ( VBG turning ) ( PRT ( RP around ) ) ( NP ( NP ( NNP P&G ) ( POS 's ) ) ( JJ international ) ( NNS operations ) ) ) ) ) ( NP-SBJ ( NNS analysts ) ) ( VP ( VBP have ) ( NP ( NP ( JJ high ) ( NNS hopes ) ) ( PP ( IN for ) ( NP ( PRP$ his ) ( NN tenure ) ) ) ) ) )

Because of his remarkable success turning around P&G 's international operations analysts have high hopes for his tenure


( S-2 ( SBAR-ADV ( IN If ) ( S ( NP-SBJ ( PRP he ) ) ( VP ( VBZ does ) ( PP ( TO to ) ( NP ( DT the ) ( JJ domestic ) ( NNS operations ) ) ) ( SBAR-NOM ( WHNP-1 ( WP what ) ) ( S ( NP-SBJ ( PRP he ) ) ( VP ( VBD did ) ( ADVP-LOC ( RB internationally ) ) ) ) ) ) ) ) ( PRN ( SINV ( VP ( VBZ says ) ) ( NP-SBJ ( NNP Mr. ) ( NNP Zurkuhlen ) ) ) ) ( NP-SBJ ( DT this ) ( NN company ) ) ( VP ( MD will ) ( VP ( VB earn ) ( NP ( NP ( QP ( CD 6 ) ( CC or ) ( CD 7 ) ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ( PP-TMP ( IN in ) ( NP ( DT a ) ( JJ few ) ( NNS years ) ) ) ) ) )

If he does to the domestic operations what he did internationally says Mr. Zurkuhlen this company will earn 6 or 7 a share in a few years


( S ( NP-SBJ-1 ( NNP Malcolm ) ( NNP S. ) ( NNP Todt ) ) ( VP ( VBD was ) ( VP ( VBN named ) ( S ( NP-PRD ( NP ( NN vice ) ( NN president ) ) ( CC and ) ( NP ( NP ( JJ senior ) ( NN officer ) ) ( PP ( IN in ) ( NP ( NP ( NN charge ) ) ( PP ( IN of ) ( NP ( NP ( NP ( NN equipment ) ( VBG leasing ) ) ( PP ( TO to ) ( NP ( NNS municipalities ) ) ) ) ( NP ( NP ( DT a ) ( JJ new ) ( NN effort ) ) ( PP ( IN of ) ( NP ( DT this ) ( NN bond ) ( NN insurer ) ) ) ) ) ) ) ) ) ) ) ) ) )

Malcolm S. Todt was named vice president and senior officer in charge of equipment leasing to municipalities a new effort of this bond insurer


( S ( NP-SBJ ( NNP Mr. ) ( NNP Todt ) ) ( VP ( VBD had ) ( VP ( VBN been ) ( NP-PRD ( NP ( NP ( RB vice ) ( NN president ) ) ( CC and ) ( NP ( NN treasurer ) ) ) ( PP ( IN of ) ( NP ( NNP Insilco ) ( NNP Corp ) ) ) ) ) ) )

Mr. Todt had been vice president and treasurer of Insilco Corp


( S ( NP-SBJ ( NNP Falcon ) ( NNP Holding ) ( NNP Group ) ( NNP Inc. ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ-1 ( PRP it ) ) ( VP ( VBD agreed ) ( S ( VP ( TO to ) ( VP ( VB acquire ) ( NP ( QP ( RB about ) ( CD 54,000 ) ) ( NNS subscribers ) ) ( PP-CLR ( IN from ) ( NP ( NNP First ) ( NNP Carolina ) ( NNP Cable ) ( NN TV ) ( NNP Limited ) ( NNP Partnership ) ) ) ( PP-CLR ( IN for ) ( NP ( NP ( QP ( RB about ) ( CD 100 ) ( CD million ) ) ) ( CC or ) ( NP ( NP ( QP ( RB roughly ) ( CD 2,000 ) ) ) ( NP-ADV ( DT a ) ( NN subscriber ) ) ) ) ) ) ) ) ) ) ) ) )

Falcon Holding Group Inc. said it agreed to acquire about 54,000 subscribers from First Carolina Cable TV Limited Partnership for about 100 million or roughly 2,000 a subscriber


( S ( NP-SBJ ( DT The ) ( NNS subscribers ) ) ( VP ( VBP are ) ( PP-LOC-PRD ( IN in ) ( NP ( NP ( CD 52 ) ( JJ different ) ( NNS communities ) ) ( PP-LOC ( IN in ) ( NP ( NNP Georgia ) ( NNP Alabama ) ( CC and ) ( NNP Mississippi ) ) ) ) ) ) )

The subscribers are in 52 different communities in Georgia Alabama and Mississippi


( S ( S-TPC-2 ( NP-SBJ-1 ( NP ( NN Completion ) ) ( PP ( IN of ) ( NP ( DT the ) ( NN sale ) ) ) ) ( VP ( VBZ is ) ( VP ( VBN expected ) ( NP-TMP ( RB early ) ( JJ next ) ( NN year ) ) ) ) ) ( NP-SBJ ( NNP Falcon ) ) ( VP ( VBD said ) ) )

Completion of the sale is expected early next year Falcon said


( S ( S ( ADVP-TMP ( NNP Currently ) ) ( NP-SBJ ( NNP Falcon ) ) ( VP ( VBZ has ) ( NP ( NP ( QP ( RB about ) ( CD 750,000 ) ) ( NN cable-television ) ( NNS subscribers ) ) ( ADVP-LOC ( IN around ) ( NP ( DT the ) ( NN nation ) ) ) ) ) ) ( S ( NP-SBJ ( NP ( DT the ) ( NN company ) ( POS 's ) ) ( NN cable-television ) ( NN unit ) ) ( VP ( VBD reported ) ( NP ( NP ( CD 1988 ) ( NN revenue ) ) ( PP ( IN of ) ( NP ( QP ( RB about ) ( CD 100 ) ( CD million ) ) ) ) ) ) ) )

Currently Falcon has about 750,000 cable-television subscribers around the nation the company 's cable-television unit reported 1988 revenue of about 100 million


( S ( PP-LOC ( IN In ) ( NP ( JJ composite ) ( NN trading ) ) ) ( PP-LOC ( IN on ) ( NP ( DT the ) ( NNP American ) ( NNP Stock ) ( NNP Exchange ) ) ) ( NP-SBJ ( NNP Falcon ) ) ( VP ( VBD closed ) ( PP-CLR ( IN at ) ( NP ( CD 20 ) ) ) ( ADVP ( JJ unchanged ) ) ) )

In composite trading on the American Stock Exchange Falcon closed at 20 unchanged


( S ( NP-SBJ ( DT The ) ( NNP House ) ) ( VP ( VBD approved ) ( NP ( NP ( DT a ) ( JJ short-term ) ( NN spending ) ( NN bill ) ) ( SBAR ( S ( VP ( TO to ) ( VP ( VP ( VB keep ) ( S ( NP-SBJ ( DT the ) ( NN government ) ) ( VP ( VBG operating ) ) ) ( PP-TMP ( IN through ) ( NP ( NNP Nov. ) ( CD 15 ) ) ) ) ( CC and ) ( VP ( VB provide ) ( NP ( NP ( QP ( CD 2.85 ) ( CD billion ) ) ) ( PP ( IN in ) ( NP ( NN emergency ) ( NNS funds ) ) ) ) ( S-PRP ( VP ( TO to ) ( VP ( VB assist ) ( PP-CLR ( IN in ) ( NP ( NP ( DT the ) ( NN recovery ) ) ( PP ( IN from ) ( NP ( NP ( NNP Hurricane ) ( NNP Hugo ) ) ( CC and ) ( NP ( DT the ) ( NNP California ) ( NN earthquake ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

The House approved a short-term spending bill to keep the government operating through Nov. 15 and provide 2.85 billion in emergency funds to assist in the recovery from Hurricane Hugo and the California earthquake


( S ( S ( NP-SBJ ( DT The ) ( CD 321-99 ) ( NN roll ) ( NN call ) ( NN vote ) ) ( VP ( VBD reflected ) ( NP ( NP ( JJ broad ) ( NN support ) ) ( PP ( IN for ) ( NP ( DT the ) ( NN disaster ) ( NN assistance ) ) ) ) ) ) ( CC but ) ( S ( NP-SBJ-1 ( NP ( DT the ) ( NN cost ) ) ( PP ( TO to ) ( NP ( DT the ) ( NNP Treasury ) ) ) ) ( VP ( VBZ is ) ( ADJP-PRD ( JJ sure ) ( S ( VP ( TO to ) ( VP ( VB aggravate ) ( NP ( NN budget ) ( NNS pressures ) ) ( NP-TMP ( DT this ) ( NN year ) ( CC and ) ( JJ next ) ) ( PP-LOC ( IN under ) ( NP ( DT the ) ( NNP Gramm-Rudman ) ( NN deficit ) ( NN reduction ) ( NN law ) ) ) ) ) ) ) ) ) )

The 321-99 roll call vote reflected broad support for the disaster assistance but the cost to the Treasury is sure to aggravate budget pressures this year and next under the Gramm-Rudman deficit reduction law


( S ( S ( PP-EXT ( IN By ) ( NP ( DT a ) ( JJ lopsided ) ( CD 401-18 ) ( NN margin ) ) ) ( NP-SBJ ( DT the ) ( NN chamber ) ) ( VP ( VBD rejected ) ( NP ( DT an ) ( NN effort ) ( S ( VP ( TO to ) ( VP ( VB waive ) ( NP ( NNP Gramm-Rudman ) ) ( PP-PRP ( IN for ) ( NP ( NP ( NNS purposes ) ) ( PP ( IN of ) ( S-NOM ( VP ( VBG addressing ) ( NP ( DT the ) ( CD two ) ( NNS disasters ) ) ) ) ) ) ) ) ) ) ) ) ) ( CC and ) ( S ( NP-SBJ ( NN budget ) ( NNS analysts ) ) ( VP ( VBP estimate ) ( SBAR ( S ( NP-SBJ ( DT the ) ( JJ increased ) ( NNS appropriations ) ) ( VP ( MD will ) ( VP ( VB widen ) ( NP ( DT the ) ( JJ fiscal ) ( CD 1990 ) ( NN deficit ) ) ( PP-EXT ( IN by ) ( NP ( QP ( IN at ) ( JJS least ) ( CD 1.44 ) ( CD billion ) ) ) ) ( SBAR-ADV ( IN unless ) ( S ( NP-SBJ-19 ( NP ( VBG offsetting ) ( NN spending ) ( NNS cuts ) ) ( CC or ) ( NP ( JJ new ) ( NNS revenues ) ) ) ( VP ( VBP are ) ( VP ( VBN found ) ( PP ( IN by ) ( NP-LGS ( NNP Congress ) ) ) ) ) ) ) ) ) ) ) ) ) )

By a lopsided 401-18 margin the chamber rejected an effort to waive Gramm-Rudman for purposes of addressing the two disasters and budget analysts estimate the increased appropriations will widen the fiscal 1990 deficit by at least 1.44 billion unless offsetting spending cuts or new revenues are found by Congress


( S ( S ( NP-SBJ ( DT The ) ( NN budget ) ( NN impact ) ) ( VP ( MD will ) ( VP ( VB be ) ( ADJP-PRD ( JJR greater ) ( RB still ) ) ( PP-TMP ( IN in ) ( NP ( JJ fiscal ) ( CD 1991 ) ) ) ) ) ) ( CC and ) ( S ( NP-SBJ ( DT the ) ( NN issue ) ) ( VP ( VBD forced ) ( NP ( NP ( DT a ) ( NN confrontation ) ) ( PP ( IN between ) ( NP ( NP ( DT the ) ( NNP Appropriations ) ( NNP Committee ) ( NN leadership ) ) ( CC and ) ( NP ( NP ( NNP Budget ) ( NNP Committee ) ( NNP Chairman ) ( NNP Leon ) ( NNP Panetta ) ) ( SBAR ( WHNP-1 ( WP$ whose ) ( NNP California ) ( NN district ) ) ( S ( VP ( VBD was ) ( PP-LOC-PRD ( IN at ) ( NP ( NP ( DT the ) ( NN center ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( NN earthquake ) ) ( NP-TMP ( JJ last ) ( NN week ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

The budget impact will be greater still in fiscal 1991 and the issue forced a confrontation between the Appropriations Committee leadership and Budget Committee Chairman Leon Panetta whose California district was at the center of the earthquake last week


( S ( S-ADV ( VP ( VBG Going ) ( PP-DIR ( TO to ) ( NP ( NP ( DT the ) ( NN well ) ) ( PP ( IN of ) ( NP ( DT the ) ( NN chamber ) ) ) ) ) ) ) ( NP-SBJ-1 ( NNP Mr. ) ( NNP Panetta ) ) ( VP ( VBD demanded ) ( SBAR ( S ( NP-SBJ-2 ( DT the ) ( NNS costs ) ) ( VP ( VB be ) ( VP ( ADVP-MNR ( RB fully ) ) ( VBN counted ) ) ) ) ) ) )

Going to the well of the chamber Mr. Panetta demanded the costs be fully counted


( S ( NP-SBJ ( PRP$ His ) ( JJ prominent ) ( NN role ) ) ( VP ( VBD put ) ( NP ( PRP him ) ) ( PP-PUT ( IN in ) ( NP ( NP ( DT the ) ( JJ awkward ) ( NN position ) ) ( PP ( IN of ) ( S-NOM ( VP ( VBG challenging ) ( NP ( NP ( DT the ) ( JJ very ) ( NN committee ) ( NNS members ) ) ( SBAR ( WHPP-1 ( IN on ) ( WHNP ( WP whom ) ) ) ( S ( NP-SBJ ( PRP$ his ) ( NN state ) ) ( VP ( MD will ) ( VP ( VB be ) ( ADJP-PRD ( RBS most ) ( JJ dependent ) ) ( PP-TMP ( IN in ) ( NP ( NP ( DT the ) ( NNS months ) ) ( ADVP-TMP ( RB ahead ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

His prominent role put him in the awkward position of challenging the very committee members on whom his state will be most dependent in the months ahead


( SINV ( S-TPC-2 ( NP-SBJ-1 ( PRP We ) ) ( VP ( VBP do ) ( RB not ) ( VP ( VB come ) ( PP-DIR ( TO to ) ( NP ( DT this ) ( NNP House ) ) ) ( S-ADV ( VP ( VBG asking ) ( PP-CLR ( IN for ) ( NP ( DT any ) ( NN handout ) ) ) ) ) ) ) ) ( VP ( VBD said ) ) ( NP-SBJ ( DT the ) ( NNP California ) ( NNP Democrat ) ) )

We do not come to this House asking for any handout said the California Democrat


( S ( NP-SBJ-1 ( PRP We ) ) ( VP ( VB do ) ( RB not ) ( VP ( VB intend ) ( S ( VP ( TO to ) ( VP ( VB hide ) ( NP ( DT these ) ( NNS costs ) ) ( PP-CLR ( IN from ) ( NP ( DT the ) ( JJ American ) ( NNS people ) ) ) ) ) ) ) ) )

We do not intend to hide these costs from the American people


( S ( NP-SBJ ( DT The ) ( ADJP ( QP ( CD 2.85 ) ( CD billion ) ) ) ( NN package ) ) ( VP ( VBZ incorporates ) ( NP ( NP ( NP ( QP ( CD 500 ) ( CD million ) ) ) ( PP ( IN for ) ( NP ( JJ low-interest ) ( NN disaster ) ( NNS loans ) ) ) ) ( NP ( NP ( QP ( CD 1 ) ( CD billion ) ) ) ( PP ( IN in ) ( NP ( NN highway ) ( NN construction ) ( NNS funds ) ) ) ) ( CC and ) ( NP ( NP ( QP ( CD 1.35 ) ( CD billion ) ) ) ( VP ( VBN divided ) ( PP-CLR ( IN between ) ( NP ( NP ( JJ general ) ( NN emergency ) ( NN assistance ) ) ( CC and ) ( NP ( NP ( DT a ) ( NN reserve ) ) ( SBAR ( S ( VP ( TO to ) ( VP ( VB be ) ( ADJP-PRD ( JJ available ) ( PP ( TO to ) ( NP ( NNP President ) ( NNP Bush ) ) ) ( S ( VP ( TO to ) ( VP ( VB meet ) ( NP ( NP ( JJ unanticipated ) ( NNS costs ) ) ( PP ( IN from ) ( NP ( DT the ) ( CD two ) ( NNS disasters ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

The 2.85 billion package incorporates 500 million for low-interest disaster loans 1 billion in highway construction funds and 1.35 billion divided between general emergency assistance and a reserve to be available to President Bush to meet unanticipated costs from the two disasters


( S ( NP-SBJ ( DT The ) ( NNS funds ) ) ( VP ( VBP are ) ( PP-PRD ( IN in ) ( NP ( NP ( NN addition ) ) ( PP ( TO to ) ( NP ( NP ( QP ( CD 1.1 ) ( CD billion ) ) ) ( VP ( VBN appropriated ) ( NP-TMP ( JJ last ) ( NN month ) ) ( S-PRP ( VP ( TO to ) ( VP ( VB assist ) ( PP-CLR ( IN in ) ( NP ( NP ( DT the ) ( NN recovery ) ) ( PP ( IN from ) ( NP ( NNP Hugo ) ) ) ) ) ) ) ) ) ) ) ) ) ( S-ADV ( VP ( VBG bringing ) ( NP ( NP ( DT the ) ( NN total ) ) ( PP ( IN for ) ( NP ( DT the ) ( CD two ) ( NNS disasters ) ) ) ) ( PP-DIR ( TO to ) ( NP ( NP ( QP ( RB nearly ) ( CD 4 ) ( CD billion ) ) ) ( PP ( IN in ) ( NP ( JJ unanticipated ) ( NN spending ) ) ) ) ) ) ) ) )

The funds are in addition to 1.1 billion appropriated last month to assist in the recovery from Hugo bringing the total for the two disasters to nearly 4 billion in unanticipated spending


( S ( PP-PRP ( IN Because ) ( IN of ) ( NP ( NP ( DT the ) ( NNS vagaries ) ) ( PP ( IN of ) ( NP ( NNP Gramm-Rudman ) ) ) ) ) ( NP-SBJ ( DT the ) ( JJ immediate ) ( NN impact ) ) ( VP ( VBZ is ) ( ADJP-PRD ( RB relatively ) ( JJ small ) ) ) )

Because of the vagaries of Gramm-Rudman the immediate impact is relatively small


( S ( CC But ) ( NP-SBJ ( DT the ) ( NNS appropriations ) ) ( VP ( VBD set ) ( PP-CLR ( IN in ) ( NP ( NN motion ) ) ) ( NP ( NP ( NN spending ) ) ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( VP ( VBZ adds ) ( PP-CLR ( TO to ) ( NP ( NP ( DT an ) ( ADJP ( RB already ) ( JJ grim ) ) ( NN budget ) ( NN picture ) ) ( PP ( IN for ) ( NP ( JJ fiscal ) ( CD 1991 ) ) ) ) ) ) ) ) ) ) )

But the appropriations set in motion spending that adds to an already grim budget picture for fiscal 1991


( S ( PP-LOC ( IN Within ) ( NP ( DT the ) ( NNS appropriations ) ( NN process ) ) ) ( NP-SBJ ( DT the ) ( NN situation ) ) ( VP ( VBZ is ) ( ADJP-PRD ( ADVP ( RB even ) ( RBR more ) ) ( JJ difficult ) ) ( SBAR-PRP ( IN since ) ( S ( NP-SBJ-1 ( DT the ) ( NNS costs ) ) ( VP ( MD will ) ( VP ( VB be ) ( VP ( VBN counted ) ( PP-CLR ( IN against ) ( NP ( NP ( NP ( DT the ) ( NN share ) ) ( PP ( IN of ) ( NP ( NNS funds ) ) ) ) ( SBAR ( S ( VP ( TO to ) ( VP ( VB be ) ( VP ( VBN allocated ) ( PP-CLR ( TO to ) ( NP ( NP ( DT those ) ( NNS subcommittees ) ) ( SBAR ( WHNP-3 ( WDT that ) ) ( S ( ADVP-TMP ( RB recently ) ) ( VP ( VBP have ) ( VP ( VBD had ) ( NP ( NP ( DT the ) ( JJS greatest ) ( NN difficulty ) ) ( PP ( IN in ) ( S-NOM ( VP ( VBG staying ) ( PP-LOC-CLR ( IN within ) ( NP ( DT the ) ( NN budget ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Within the appropriations process the situation is even more difficult since the costs will be counted against the share of funds to be allocated to those subcommittees that recently have had the greatest difficulty in staying within the budget


( S ( S ( NP-SBJ-2 ( NP ( DT The ) ( JJ underlying ) ( NN bill ) ) ( VP ( VBN approved ) ( NP-TMP ( NN yesterday ) ) ) ) ( VP ( VBZ is ) ( VP ( VBN required ) ( S-PRP ( VP ( TO to ) ( VP ( VB keep ) ( S ( NP-SBJ ( DT the ) ( NN government ) ) ( VP ( VBG operating ) ( PP-TMP ( IN past ) ( NP ( NP ( NN midnight ) ) ( NP-TMP ( NN tonight ) ) ) ) ) ) ) ) ) ) ) ) ( CC and ) ( S ( NP-SBJ ( DT this ) ( NN urgency ) ) ( VP ( VBZ has ) ( VP ( VBN contributed ) ( PP-CLR ( TO to ) ( NP ( NP ( NP ( DT the ) ( NN speed ) ) ( CC and ) ( PRN ( S ( NP-SBJ ( NNS critics ) ) ( VP ( VBP say ) ) ) ) ( NP ( NNS mistakes ) ) ) ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( VP ( VBP have ) ( VP ( VBN accompanied ) ( NP ( NP ( DT the ) ( NN package ) ) ( PP ( IN of ) ( NP ( NN disaster ) ( NN assistance ) ) ) ) ) ) ) ) ) ) ) ) ) )

The underlying bill approved yesterday is required to keep the government operating past midnight tonight and this urgency has contributed to the speed and critics say mistakes that have accompanied the package of disaster assistance


( S ( NP-SBJ-2 ( DT The ) ( RB hastily ) ( VBN drafted ) ( NN measure ) ) ( VP ( MD could ) ( VP ( VB hurt ) ( NP ( NNP California ) ) ( PP-MNR ( IN by ) ( S-NOM ( VP ( VBG requiring ) ( S ( NP-SBJ ( PRP it ) ) ( VP ( TO to ) ( VP ( VB put ) ( PRT ( RP up ) ) ( NP ( NP ( JJR more ) ( JJ matching ) ( NNS funds ) ) ( PP ( IN for ) ( NP ( NN emergency ) ( NN highway ) ( NN assistance ) ) ) ( SBAR ( IN than ) ( S ( ADVP ( RB otherwise ) ) ( VP ( MD would ) ( VP ( VB be ) ( VP ( VBN required ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

The hastily drafted measure could hurt California by requiring it to put up more matching funds for emergency highway assistance than otherwise would be required


( S ( CC And ) ( NP-SBJ ( NP ( DT the ) ( NN state ) ( POS 's ) ) ( NN delegation ) ) ( VP ( VBZ is ) ( ADJP-PRD ( JJ fearful ) ( SBAR ( IN that ) ( S ( NP-SBJ-1 ( DT the ) ( JJ new ) ( NN funding ) ) ( VP ( MD will ) ( VP ( VB be ) ( VP ( VBN counted ) ( PP-CLR ( IN against ) ( NP ( NP ( NP ( DT a ) ( JJ separate ) ( QP ( CD 185 ) ( CD million ) ) ) ( PP ( IN in ) ( NP ( JJ federal ) ( NN highway ) ( NNS funds ) ) ) ) ( SBAR ( S ( NP-SBJ-3 ( PRP it ) ) ( VP ( MD would ) ( VP ( VB expect ) ( S ( VP ( TO to ) ( VP ( VB receive ) ( PP-LOC ( IN under ) ( NP ( PRP$ its ) ( JJ normal ) ( NN allocation ) ) ) ( NP-TMP ( DT this ) ( NN year ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

And the state 's delegation is fearful that the new funding will be counted against a separate 185 million in federal highway funds it would expect to receive under its normal allocation this year


( S ( ADVP ( RB Also ) ) ( NP-SBJ ( NP ( DT the ) ( JJ high ) ( NN price ) ) ( PP ( IN of ) ( NP ( NNP San ) ( NNP Francisco ) ( JJ real ) ( NN estate ) ) ) ) ( VP ( VBZ puts ) ( NP ( DT the ) ( NN state ) ) ( PP-CLR ( IN at ) ( NP ( NP ( NNS odds ) ) ( PP ( IN with ) ( NP ( NP ( JJ federal ) ( NNS regulations ) ) ( ADJP ( RBR more ) ( JJ attuned ) ( PP ( TO to ) ( NP ( DT the ) ( JJ national ) ( NN average ) ) ) ) ) ) ) ) ) )

Also the high price of San Francisco real estate puts the state at odds with federal regulations more attuned to the national average


( S ( PP ( IN For ) ( NP ( NN example ) ) ) ( NP-SBJ ( NP ( NN disaster ) ( NNS loans ) ) ( SBAR ( WHNP-1 ( WDT which ) ) ( S ( VP ( MD will ) ( VP ( VB go ) ( PP-DIR ( TO to ) ( NP ( NP ( JJ small ) ( NNS businesses ) ) ( CC and ) ( NP ( NNS homeowners ) ) ) ) ) ) ) ) ) ( VP ( VBP offer ) ( NP ( NP ( NN credit ) ) ( ADJP ( RB as ) ( JJ low ) ( PP ( IN as ) ( NP ( CD 4 ) ( NN % ) ) ) ) ) ( PP-LOC ( IN in ) ( NP ( DT some ) ( NNS cases ) ) ) ) )

For example disaster loans which will go to small businesses and homeowners offer credit as low as 4 % in some cases


( S ( CC But ) ( NP-SBJ ( DT the ) ( NNP San ) ( NNP Francisco ) ( NN delegation ) ) ( VP ( VBZ finds ) ( S ( NP-SBJ ( PRP itself ) ) ( VP ( VBG asking ) ( SBAR ( IN that ) ( S ( NP-SBJ-1 ( NP ( DT the ) ( NN cap ) ) ( PP ( IN per ) ( NP ( NN household ) ) ) ) ( VP ( VB be ) ( VP ( VBN lifted ) ( PP-DIR ( TO to ) ( NP ( CD 500,000 ) ) ) ( PP-DIR ( IN from ) ( NP ( CD 100,000 ) ) ) ( S-PRP ( VP ( TO to ) ( VP ( VB assist ) ( NP ( DT the ) ( ADJP ( ADJP ( JJ hard ) ( NN hit ) ) ( CC but ) ( RB often ) ( ADJP ( JJ wealthy ) ) ) ( NNP Marina ) ( NN district ) ) ) ) ) ) ) ) ) ) ) ) )

But the San Francisco delegation finds itself asking that the cap per household be lifted to 500,000 from 100,000 to assist the hard hit but often wealthy Marina district


( S ( S ( NP-SBJ-1 ( DT The ) ( NNP Senate ) ) ( VP ( VBZ is ) ( VP ( VBN expected ) ( S ( VP ( TO to ) ( VP ( VB make ) ( NP ( DT some ) ( NNS modifications ) ) ( NP-TMP ( NN today ) ) ) ) ) ) ) ) ( CC but ) ( S ( NP-SBJ-2 ( CC both ) ( NP ( DT the ) ( NNP White ) ( NNP House ) ) ( CC and ) ( NP ( NNP Congress ) ) ) ( VP ( VBP appear ) ( ADJP-PRD ( RBS most ) ( JJ anxious ) ( S ( VP ( TO to ) ( VP ( VB speed ) ( NP ( JJ final ) ( NN approval ) ) ( PP-TMP ( IN before ) ( NP ( NP ( NN tonight ) ( POS 's ) ) ( NN deadline ) ) ) ) ) ) ) ) ) )

The Senate is expected to make some modifications today but both the White House and Congress appear most anxious to speed final approval before tonight 's deadline


( S ( S ( NP-SBJ ( NNP Administration ) ( NN pressure ) ) ( VP ( VBZ discourages ) ( NP ( DT any ) ( NN effort ) ( S ( VP ( TO to ) ( VP ( VB add ) ( PP-DIR ( TO to ) ( NP ( JJ total ) ( NN funding ) ) ) ) ) ) ) ) ) ( CC and ) ( S ( NP-SBJ-1 ( DT the ) ( NNP Senate ) ( NNS changes ) ) ( VP ( VBP are ) ( VP ( VBN expected ) ( S ( VP ( TO to ) ( VP ( VB be ) ( ADJP-PRD ( RB largely ) ( JJ technical ) ) ( S-ADV ( VP ( VP ( VBG dealing ) ( PP-CLR ( IN with ) ( NP ( NN highway ) ( NN aid ) ) ) ) ( CC and ) ( VP ( VBG lifting ) ( NP ( NP ( DT the ) ( NN ceiling ) ) ( PP ( IN on ) ( NP ( JJ total ) ( NNP Small ) ( NNP Business ) ( NNP Administration ) ( NNS loans ) ) ) ) ( PP-DIR ( TO to ) ( NP ( QP ( CD 1.8 ) ( CD billion ) ) ) ) ( S-PRP ( VP ( TO to ) ( VP ( VB accommodate ) ( NP ( NP ( DT the ) ( JJ increased ) ( NN activity ) ) ( VP ( VBN expected ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Administration pressure discourages any effort to add to total funding and the Senate changes are expected to be largely technical dealing with highway aid and lifting the ceiling on total Small Business Administration loans to 1.8 billion to accommodate the increased activity expected


( S ( NP-SBJ ( NP ( NN Yesterday ) ( POS 's ) ) ( NN floor ) ( NN action ) ) ( VP ( VBD came ) ( SBAR-TMP ( IN as ) ( S ( NP-SBJ ( DT a ) ( NNP House-Senate ) ( NN conference ) ) ( VP ( VBD approved ) ( NP ( NP ( DT a ) ( ADJP ( QP ( RB nearly ) ( CD 8.5 ) ( CD billion ) ) ) ( JJ fiscal ) ( CD 1990 ) ( JJ military ) ( NN construction ) ( NN bill ) ) ( VP ( VP ( VBG representing ) ( NP ( NP ( DT a ) ( ADJP ( CD 5 ) ( NN % ) ) ( NN reduction ) ) ( PP ( IN from ) ( NP-TMP ( JJ last ) ( NN year ) ) ) ) ) ( CC and ) ( VP ( VBG making ) ( NP ( NP ( JJ severe ) ( NNS cuts ) ) ( PP ( IN from ) ( NP ( NP ( NNP Pentagon ) ( NNS requests ) ) ( PP ( IN for ) ( NP ( NP ( NNS installations ) ) ( ADVP-LOC ( RB abroad ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Yesterday 's floor action came as a House-Senate conference approved a nearly 8.5 billion fiscal 1990 military construction bill representing a 5 % reduction from last year and making severe cuts from Pentagon requests for installations abroad


( S ( NP-SBJ-1 ( DT An ) ( JJ estimated ) ( QP ( CD 25.8 ) ( CD million ) ) ) ( VP ( VBZ is ) ( VP ( VBN allocated ) ( S-PRP ( VP ( TO to ) ( VP ( VB continue ) ( NP ( NP ( NN work ) ) ( PP-LOC ( IN in ) ( NP ( NNP Oman ) ) ) ) ) ) ) ) ) )

An estimated 25.8 million is allocated to continue work in Oman


( S ( CC But ) ( S ( NP-SBJ-1 ( NP ( DT all ) ( NN funding ) ) ) ( VP ( VBZ is ) ( VP ( VBN cut ) ( PP-3 ( IN for ) ( NP ( DT the ) ( NNPS Philippines ) ) ) ) ) ) ( CC and ) ( S ( NP-SBJ-2 ( NP ( NNS projects ) ) ( PP-LOC ( IN in ) ( NP ( NNP South ) ( NNP Korea ) ) ) ) ( VP ( VBP are ) ( VP ( VBN cut ) ( PP-CLR ( TO to ) ( NP ( NP ( QP ( CD 13.6 ) ( CD million ) ) ) ( CC or ) ( NP ( NP ( JJR less ) ) ( PP ( IN than ) ( NP ( NP ( DT a ) ( JJ sixth ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( NN administration ) ( POS 's ) ) ( NN request ) ) ) ) ) ) ) ) ) ) ) )

But all funding is cut for the Philippines and projects in South Korea are cut to 13.6 million or less than a sixth of the administration 's request


( S ( ADVP-LOC ( RBR Closer ) ( PP ( TO to ) ( NP ( NN home ) ) ) ) ( NP-SBJ ( DT the ) ( NNS negotiators ) ) ( VP ( VBD were ) ( ADJP-PRD ( RBR more ) ( JJ generous ) ) ) )

Closer to home the negotiators were more generous


( S ( NP-SBJ-1 ( DT An ) ( JJ estimated ) ( QP ( CD 38.9 ) ( CD million ) ) ) ( VP ( VBD was ) ( VP ( VBN set ) ( ADVP-LOC-CLR ( RB aside ) ) ( PP-PRP ( IN for ) ( NP ( NP ( JJ military ) ( NNS installations ) ) ( PP-LOC ( IN in ) ( NP ( NP ( DT the ) ( NN home ) ( NN state ) ) ( PP ( IN of ) ( NP ( NP ( NNP North ) ( NNP Carolina ) ( NNP Rep. ) ( NNP W.G. ) ( NNP Hefner ) ) ( NP ( DT the ) ( NNP House ) ( NN chairman ) ) ) ) ) ) ) ) ) ) )

An estimated 38.9 million was set aside for military installations in the home state of North Carolina Rep. W.G. Hefner the House chairman


( S ( CC And ) ( NP-SBJ ( QP ( CD 70.2 ) ( CD million ) ) ) ( VP ( MD would ) ( VP ( VB go ) ( PP-DIR ( TO to ) ( NP ( NP ( NP ( NNS projects ) ) ( PP-LOC ( IN in ) ( NP ( NNP Tennessee ) ) ) ) ( VP ( VBN represented ) ( PP ( IN by ) ( NP-LGS ( NP ( PRP$ his ) ( NNP Senate ) ( NN counterpart ) ( CC and ) ( JJ fellow ) ( NNP Democrat ) ) ( NP ( NNP Sen. ) ( NNP James ) ( NNP Sasser ) ) ) ) ) ) ) ) ) )

And 70.2 million would go to projects in Tennessee represented by his Senate counterpart and fellow Democrat Sen. James Sasser


( S ( S ( NP-SBJ ( NNP Texas ) ( CC and ) ( NNP California ) ) ( VP ( VBP are ) ( ADJP-PRD ( RB traditionally ) ( JJ powerful ) ) ( PP-LOC ( IN within ) ( NP ( DT the ) ( NN conference ) ) ) ) ) ( CC but ) ( SINV ( ADJP-PRD-TPC-1 ( RB equally ) ( JJ striking ) ) ( VP ( VBZ is ) ) ( NP-SBJ ( NP ( DT the ) ( NN dominance ) ) ( PP ( IN of ) ( NP ( NP ( NNP Alaska ) ) ( NP ( NNP Pennsylvania ) ) ( CC and ) ( NP ( NNP West ) ( NNP Virginia ) ) ) ) ) ( PP-PRP ( IN because ) ( IN of ) ( NP ( NP ( PRP$ their ) ( NN power ) ) ( ADVP-LOC ( RB elsewhere ) ( PP ( IN in ) ( NP ( DT the ) ( NNS appropriations ) ( NN process ) ) ) ) ) ) ) )

Texas and California are traditionally powerful within the conference but equally striking is the dominance of Alaska Pennsylvania and West Virginia because of their power elsewhere in the appropriations process


( S ( NP-SBJ ( NP ( NNP Senate ) ( NNP Appropriations ) ( NNP Committee ) ( NNP Chairman ) ( NNP Robert ) ( NNP Byrd ) ) ( PRN ( NP ( NNP D. ) ) ( NP ( NNP W.Va ) ) ) ) ( ADVP ( RB even ) ) ( VP ( VBD added ) ( NP ( NP ( NN report ) ( NN language ) ) ( VP ( VBG listing ) ( NP ( NP ( QP ( CD 49.4 ) ( CD million ) ) ) ( PP ( IN in ) ( NP ( NP ( NNS projects ) ) ( SBAR ( S ( NP-SBJ ( PRP he ) ) ( VP ( VBZ wants ) ( S ( PP-LOC-PRD ( IN in ) ( NP ( DT the ) ( NN budget ) ) ) ( NP-TMP ( JJ next ) ( NN year ) ) ) ) ) ) ) ) ) ) ) ) )

Senate Appropriations Committee Chairman Robert Byrd D. W.Va even added report language listing 49.4 million in projects he wants in the budget next year


( S ( NP-SBJ ( DT No ) ( NN individual ) ) ( VP ( VBD illustrated ) ( NP ( NP ( DT this ) ( NN mix ) ) ( PP ( IN of ) ( NP ( NN power ) ) ) ) ( ADVP-EXT ( ADVP ( RBR more ) ) ) ( NP-TMP ( NN yesterday ) ) ( PP-2 ( IN than ) ( NP ( NP ( NNP Sen. ) ( NNP Daniel ) ( NNP Inouye ) ) ( PRN ( NP ( NNP D. ) ) ( NP ( NNP Hawaii ) ) ) ( SBAR ( WHNP-1 ( WP who ) ) ( S ( VP ( VBZ chairs ) ( NP ( DT the ) ( NNP Senate ) ( NN defense ) ( NN subcommittee ) ) ) ) ) ) ) ) )

No individual illustrated this mix of power more yesterday than Sen. Daniel Inouye D. Hawaii who chairs the Senate defense subcommittee


( S ( PP-LOC ( IN In ) ( NP ( DT the ) ( JJ final ) ( NN trading ) ) ) ( NP-SBJ ( DT the ) ( NNP House ) ) ( VP ( VBD was ) ( ADJP-PRD ( JJ insistent ) ( PP ( IN on ) ( S-NOM ( VP ( VBG setting ) ( ADVP-LOC-CLR ( RP aside ) ) ( NP ( QP ( CD 500 ) ( CD million ) ) ) ( S-PRP ( VP ( TO to ) ( VP ( VB carry ) ( PRT ( RP out ) ) ( NP ( NP ( NN base ) ( NNS closings ) ) ( VP ( VBN ordered ) ( S ( VP ( TO to ) ( VP ( VB begin ) ( PP-TMP ( IN in ) ( NP ( JJ fiscal ) ( CD 1990 ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

In the final trading the House was insistent on setting aside 500 million to carry out base closings ordered to begin in fiscal 1990


( S ( CC But ) ( NP-SBJ ( PRP it ) ) ( VP ( VBD gave ) ( NP ( NN ground ) ) ( PP-DTV ( TO to ) ( NP ( NNP Mr. ) ( NNP Inouye ) ) ) ( PP ( IN on ) ( NP ( NP ( NP ( DT a ) ( NN number ) ) ( PP ( IN of ) ( NP ( NNS projects ) ) ) ) ( VP ( VBG ranging ) ( PP-DIR ( PP ( IN from ) ( NP ( NP ( DT a ) ( ADJP ( QP ( CD 11 ) ( CD million ) ) ) ( NN parking ) ( NN garage ) ) ( ADVP-LOC ( RB here ) ) ) ) ( PP ( TO to ) ( NP ( NP ( DT a ) ( NN land ) ( NN transfer ) ) ( PP-LOC ( IN in ) ( NP ( NNP Hawaii ) ) ) ) ) ( PP ( TO to ) ( NP ( DT a ) ( NN provision ) ( S ( VP ( TO to ) ( VP ( VB assist ) ( NP ( NP ( DT the ) ( NNP Makwah ) ( NNP Indian ) ( NNP Tribe ) ) ( PP-LOC ( IN in ) ( NP ( NNP Washington ) ( NN state ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

But it gave ground to Mr. Inouye on a number of projects ranging from a 11 million parking garage here to a land transfer in Hawaii to a provision to assist the Makwah Indian Tribe in Washington state


( S ( NP-SBJ ( DT The ) ( NN tribe ) ) ( VP ( VBZ is ) ( NP-PRD ( NP ( CD one ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( JJS poorest ) ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( NNP Pacific ) ( NNP Northwest ) ) ) ) ) ) ) )

The tribe is one of the poorest in the Pacific Northwest


( S ( NP-SBJ ( NP ( NNP Mr. ) ( NNP Inouye ) ) ( SBAR ( WHNP-1 ( WP who ) ) ( S ( VP ( VBZ chairs ) ( NP ( NP ( DT the ) ( JJ select ) ( NN committee ) ) ( PP ( IN on ) ( NP ( NNP Indian ) ( NNP Affairs ) ) ) ) ) ) ) ) ( VP ( VBD used ) ( NP ( PRP$ his ) ( NN power ) ) ( S-CLR ( VP ( TO to ) ( VP ( VB move ) ( NP ( CD 400,000 ) ) ( PP-DIR ( IN from ) ( NP ( DT the ) ( NNP Air ) ( NNP Force ) ) ) ( PP-DIR ( TO to ) ( NP ( NP ( DT the ) ( NNP Bureau ) ) ( PP ( IN of ) ( NP ( NNP Indian ) ( NNP Affairs ) ) ) ) ) ( S-PRP ( VP ( TO to ) ( VP ( VB assist ) ( PP-CLR ( IN in ) ( S-NOM ( VP ( VBG renovating ) ( NP ( DT a ) ( JJ decommissoned ) ( NN base ) ) ( S-PRP ( VP ( TO to ) ( VP ( VB accommodate ) ( NP ( DT a ) ( NN drug ) ( CC and ) ( NN alcohol ) ( NN rehabilitation ) ( NN center ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Mr. Inouye who chairs the select committee on Indian Affairs used his power to move 400,000 from the Air Force to the Bureau of Indian Affairs to assist in renovating a decommissoned base to accommodate a drug and alcohol rehabilitation center


( S ( ADVP-TMP ( RB Meanwhile ) ) ( NP-SBJ-2 ( NNP House-Senate ) ( NNS negotiators ) ) ( VP ( VBP have ) ( VP ( ADVP-MNR ( RB tentatively ) ) ( VBN agreed ) ( PP-CLR ( IN on ) ( NP ( DT a ) ( ADJP ( QP ( CD 3.18 ) ( CD billion ) ) ) ( JJ anti-drug ) ( CC and ) ( JJ anti-crime ) ( NN intitiative ) ) ) ( S-ADV ( VP ( VBG cutting ) ( NP ( JJ other ) ( JJ federal ) ( NN spending ) ) ( NP-EXT ( CD 0.43 ) ( NN % ) ) ( S-PRP ( VP ( TO to ) ( VP ( VB pay ) ( PP-CLR ( IN for ) ( NP ( PRP it ) ) ) ) ) ) ) ) ) ) )

Meanwhile House-Senate negotiators have tentatively agreed on a 3.18 billion anti-drug and anti-crime intitiative cutting other federal spending 0.43 % to pay for it


( S ( NP-SBJ-1 ( DT A ) ( JJ formal ) ( NNP House-Senate ) ( NN conference ) ) ( VP ( VBZ is ) ( VP ( VBN expected ) ( S ( VP ( TO to ) ( VP ( VB ratify ) ( NP ( DT the ) ( NN accord ) ) ( NP-TMP ( RB later ) ( DT this ) ( NN week ) ) ) ) ) ) ) )

A formal House-Senate conference is expected to ratify the accord later this week


( S ( NP-SBJ ( DT This ) ) ( VP ( VBZ is ) ( PP-PRD ( IN in ) ( NP ( NP ( NN response ) ) ( PP ( TO to ) ( NP ( NP ( NP ( NNP George ) ( NNP Melloan ) ( POS 's ) ) ( NNP Business ) ( NNP World ) ( NN column ) ) ( S-TTL ( NP-SBJ ( DT The ) ( NN Housing ) ( NN Market ) ) ( VP ( VBZ Is ) ( NP-PRD ( NP ( DT a ) ( JJR Bigger ) ( NN Mess ) ) ( SBAR ( IN Than ) ( S ( NP-SBJ ( PRP You ) ) ( VP ( VBP Think ) ) ) ) ) ) ) ( PRN ( NP-LOC ( JJ op-ed ) ( NN page ) ) ( NP-TMP ( NNP Sept. ) ( CD 26 ) ) ) ) ) ) ) ) )

This is in response to George Melloan 's Business World column The Housing Market Is a Bigger Mess Than You Think op-ed page Sept. 26


( S ( PP-LOC ( IN In ) ( NP ( NNP Houston ) ) ) ( NP-SBJ ( PRP we ) ) ( VP ( VBP have ) ( VP ( VBN seen ) ( SBAR-NOM ( WHADJP-1 ( WRB how ) ( JJ bad ) ) ( S ( NP-SBJ ( DT the ) ( NN housing ) ( NN problem ) ) ( VP ( MD can ) ( VP ( VB become ) ) ) ) ) ) ) )

In Houston we have seen how bad the housing problem can become


( S ( S ( NP-SBJ ( JJ Unused ) ( NNS houses ) ) ( VP ( VBP deteriorate ) ( ADVP-MNR ( RB rapidly ) ) ( S-ADV ( VP ( VBG affecting ) ( NP ( NP ( DT the ) ( NN value ) ) ( PP ( IN of ) ( NP ( JJ nearby ) ( NNS homes ) ) ) ) ) ) ) ) ( S ( PP ( IN in ) ( NP ( DT a ) ( NN domino ) ( NN effect ) ) ) ( NP-SBJ-1 ( DT the ) ( JJ entire ) ( NN neighborhood ) ) ( VP ( MD can ) ( VP ( VB fall ) ( S-ADV ( NP-PRD ( NN victim ) ) ) ) ) ) )

Unused houses deteriorate rapidly affecting the value of nearby homes in a domino effect the entire neighborhood can fall victim


( S ( PP-TMP ( IN At ) ( NP ( DT this ) ( NN stage ) ) ) ( NP-SBJ ( DT some ) ( NNS people ) ) ( ADVP ( RB just ) ) ( VP ( VBP walk ) ( ADVP-DIR ( RB away ) ( PP ( IN from ) ( NP ( NP ( NNS homes ) ) ( SBAR ( WHADVP-1 ( WRB where ) ) ( S ( NP-SBJ ( DT the ) ( NN mortgage ) ) ( VP ( VBZ exceeds ) ( NP ( JJ current ) ( NN market ) ( NN value ) ) ) ) ) ) ) ) ) )

At this stage some people just walk away from homes where the mortgage exceeds current market value


( S ( S ( CC But ) ( NP-SBJ-1 ( NP ( JJS most ) ) ( PP ( IN of ) ( NP ( PRP them ) ) ) ) ( VP ( MD could ) ( VP ( VB have ) ( VP ( VBN afforded ) ( S ( VP ( TO to ) ( VP ( VB keep ) ( PRT ( RP up ) ) ( NP ( PRP$ their ) ( NNS payments ) ) ) ) ) ) ) ) ) ( S ( NP-SBJ ( PRP they ) ) ( VP ( VBD chose ) ( S ( RB not ) ( VP ( TO to ) ( VP ( VB do ) ( ADVP-MNR ( RB so ) ) ) ) ) ) ) )

But most of them could have afforded to keep up their payments they chose not to do so


( S ( NP-SBJ ( DT The ) ( NN problem ) ) ( VP ( VBZ is ) ( ADJP-PRD ( RB so ) ( JJ vast ) ( SBAR ( IN that ) ( S ( NP-SBJ-1 ( PRP we ) ) ( VP ( VBP need ) ( S ( VP ( TO to ) ( VP ( VB try ) ( NP ( JJ innovative ) ( NNS solutions ) ) ( PP ( IN in ) ( NP ( JJ small-scale ) ( NNS experiments ) ) ) ) ) ) ) ) ) ) ) )

The problem is so vast that we need to try innovative solutions in small-scale experiments


( SINV ( ADVP-PRD-TPC-2 ( RB Here ) ) ( VP ( VBP are ) ) ( NP-SBJ ( DT some ) ( NNS ideas ) ) )

Here are some ideas


( S ( LST ( LS 1 ) ) ( NP-SBJ-1 ( VBN Foreclosed ) ( NNS homes ) ) ( VP ( MD could ) ( VP ( VB be ) ( VP ( VBN sold ) ( PP ( IN by ) ( NP-LGS ( DT the ) ( NNP FHA ) ) ) ( PP-CLR ( PP ( IN for ) ( NP ( NP ( DT no ) ( JJ down ) ( NN payment ) ) ( PRN ( NP ( NP ( DT the ) ( JJS biggest ) ( NN obstacle ) ) ( PP ( TO to ) ( NP ( JJ young ) ( NNS buyers ) ) ) ) ) ) ) ( CC but ) ( PP ( IN with ) ( NP ( NP ( NP ( JJ personal ) ( NN liability ) ) ( PP ( IN for ) ( NP ( DT the ) ( NN mortgage ) ) ) ) ( PRN ( NP ( DT no ) ( S-NOM ( VP ( VBG walking ) ( ADVP-DIR ( RB away ) ) ( PP ( IN by ) ( NP ( NN choice ) ) ) ) ) ) ) ) ) ) ) ) ) )

1 Foreclosed homes could be sold by the FHA for no down payment the biggest obstacle to young buyers but with personal liability for the mortgage no walking away by choice


( S ( LST ( LS 2 ) ) ( S ( VP ( VB Encourage ) ( NP ( JJ long-term ) ( NN occupancy ) ) ( PP-MNR ( IN by ) ( S-NOM ( VP ( VBG forgiving ) ( NP ( NP ( NP ( CD one ) ( NN month ) ( POS 's ) ) ( NN payment ) ) ( PRN ( PP ( IN off ) ( NP ( NP ( DT the ) ( JJ tail ) ( NN end ) ) ( PP ( IN of ) ( NP ( DT the ) ( NN mortgage ) ) ) ) ) ) ) ( PP ( IN for ) ( NP ( NP ( DT every ) ( CD six ) ( NNS months ) ) ( VP ( VBN paid ) ) ) ) ) ) ) ) ) ( CC or ) ( ADVP ( RB perhaps ) ) ( S ( VP ( VB have ) ( S ( NP-SBJ-2 ( DT the ) ( JJ down ) ( NN payment ) ) ( VP ( VP ( VBN deferred ) ( PP-CLR ( TO to ) ( NP ( NP ( DT the ) ( NN end ) ) ( PP ( IN of ) ( NP ( DT the ) ( NN mortgage ) ) ) ) ) ( PRN ( NP ( NN balloon ) ) ) ) ( CC but ) ( VP ( VBN forgiven ) ( PP-MNR ( IN on ) ( NP ( DT a ) ( JJ monthly ) ( JJ pro-rata ) ( NN basis ) ) ) ( ADVP-TMP ( ADVP ( RB as ) ( RB long ) ) ( SBAR ( IN as ) ( S ( NP-SBJ ( DT the ) ( NN owner ) ) ( VP ( VBZ remains ) ( NP-PRD ( DT the ) ( NN occupant ) ) ) ) ) ) ) ) ) ) ) )

2 Encourage long-term occupancy by forgiving one month 's payment off the tail end of the mortgage for every six months paid or perhaps have the down payment deferred to the end of the mortgage balloon but forgiven on a monthly pro-rata basis as long as the owner remains the occupant


( S ( LST ( LS 3 ) ) ( VP ( VB Develop ) ( NP ( NP ( JJ rental ) ( NNS agreements ) ) ( PP ( IN with ) ( NP ( NP ( JJ exclusive ) ( NN purchase ) ( NNS options ) ) ( PP ( IN for ) ( NP ( DT the ) ( NN renter ) ) ) ) ) ) ) )

3 Develop rental agreements with exclusive purchase options for the renter


( S ( NP-SBJ ( DT An ) ( NN occupant ) ) ( VP ( MD will ) ( PP ( IN in ) ( NP ( RB most ) ( DT every ) ( NN case ) ) ) ( VP ( VB be ) ( ADJP-PRD ( ADJP ( JJR better ) ) ( PP ( IN for ) ( NP ( DT the ) ( NN home ) ( CC and ) ( NN neighborhood ) ) ) ( PP ( IN than ) ( NP ( DT a ) ( JJ vacant ) ( NN house ) ) ) ) ) ) )

An occupant will in most every case be better for the home and neighborhood than a vacant house


( S ( PP-MNR ( IN In ) ( NP ( DT this ) ( NN way ) ) ) ( NP-SBJ-1 ( DT the ) ( NN house ) ) ( VP ( VBZ is ) ( RB not ) ( VP ( VBN dumped ) ( PP-CLR ( IN on ) ( PP ( TO to ) ( NP ( DT a ) ( JJ glutted ) ( NN market ) ) ) ) ) ) )

In this way the house is not dumped on to a glutted market


( NP ( NNP John ) ( NNP F. ) ( NNP Merrill ) )

John F. Merrill


Houston


( S ( NP-SBJ-3 ( NP ( DT The ) ( NNP Federal ) ( NNP Housing ) ( NNP Administration ) ) ( NP ( NNP Veterans ) ( NNP Administration ) ) ( CC and ) ( NP ( NP ( DT the ) ( NNP Department ) ) ( PP ( IN of ) ( NP ( NP ( NNP Housing ) ) ( CC and ) ( NP ( NNP Urban ) ( NNP Development ) ) ) ) ) ) ( ADVP ( RB further ) ) ( VP ( VBP aggravate ) ( NP ( NP ( DT the ) ( NN problem ) ) ( PP ( IN of ) ( NP ( JJ affordable ) ( NN housing ) ( NN stock ) ) ) ) ( PP-MNR ( IN by ) ( S-NOM ( VP ( VP ( VBG buying ) ( ADVP-CLR ( RB in ) ) ( PP-CLR ( TO to ) ( NP ( NP ( PRP$ their ) ( VBN foreclosed ) ( NNS properties ) ) ( PRN ( SBAR ( WHPP-1 ( IN of ) ( WHNP ( WDT which ) ) ) ( S ( NP-SBJ ( EX there ) ) ( VP ( VBP are ) ( INTJ ( UH alas ) ) ( NP-PRD ( NP ( JJ many ) ) ) ) ) ) ) ) ) ( PP ( IN at ) ( NP ( NP ( DT an ) ( JJ inflated ) ( NN balance ) ( JJ due ) ) ( S ( VP ( VB say ) ( NP ( NP ( CD 80,000 ) ) ( PP ( IN on ) ( NP ( NP ( DT a ) ( NN house ) ) ( ADJP ( JJ worth ) ( NP ( CD 55,000 ) ) ) ) ) ) ) ) ) ) ) ( CONJP ( RB instead ) ( IN of ) ) ( VP ( VBG allowing ) ( S ( NP-SBJ ( DT a ) ( JJ free ) ( NN market ) ) ( VP ( TO to ) ( VP ( VB price ) ( NP ( DT the ) ( NN house ) ) ( PP-CLR ( IN for ) ( SBAR-NOM ( WHNP-2 ( WP what ) ) ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBZ 's ) ( ADJP-PRD ( RB really ) ( JJ worth ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

The Federal Housing Administration Veterans Administration and the Department of Housing and Urban Development further aggravate the problem of affordable housing stock by buying in to their foreclosed properties of which there are alas many at an inflated balance due say 80,000 on a house worth 55,000 instead of allowing a free market to price the house for what it 's really worth


( S ( S-ADV ( ADJP-PRD ( RBR Worse ) ) ) ( S ( NP-SBJ-2 ( DT the ) ( NNS properties ) ) ( ADVP-TMP ( RB then ) ) ( VP ( VP ( VBP sit ) ( PRT ( RP around ) ) ( S-ADV ( VP ( VBG deteriorating ) ( PP-TMP ( IN for ) ( NP ( RB maybe ) ( DT a ) ( NN year ) ( QP ( CC or ) ( RB so ) ) ) ) ) ) ) ( CC but ) ( VP ( VBP are ) ( VP ( VBN resold ) ( ADVP-TMP ( RB eventually ) ) ( PP-PRP ( IN because ) ( IN of ) ( NP ( NP ( DT the ) ( NN attractiveness ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( JJ low ) ( JJ down ) ( NN payment ) ) ( NP ( FW etc ) ) ) ) ) ) ( PP-CLR ( TO to ) ( NP ( NP ( DT a ) ( JJ marginal ) ( NN buyer ) ) ( SBAR ( WHNP-1 ( WP who ) ) ( S ( VP ( MD ca ) ( RB n't ) ( VP ( VB afford ) ( NP ( DT both ) ( NP ( DT the ) ( NN mortgage ) ) ( CC and ) ( NP ( VBN needed ) ( NNS repairs ) ) ) ) ) ) ) ) ) ) ) ) ) ( CC and ) ( S ( S-ADV ( VP ( VBG having ) ( NP ( JJ little ) ( JJ vested ) ( NN interest ) ) ) ) ( NP-SBJ-3 ( DT that ) ( NN buyer ) ) ( VP ( MD will ) ( VP ( VB walk ) ( ADVP-DIR ( RB away ) ) ) ) ) ( CC and ) ( S ( NP-SBJ ( DT the ) ( JJ vicious ) ( NN cycle ) ) ( VP ( VBZ repeats ) ( NP ( PRP itself ) ) ( ADVP-TMP ( RB all ) ( RB over ) ( RB again ) ) ) ) )

Worse the properties then sit around deteriorating for maybe a year or so but are resold eventually because of the attractiveness of the low down payment etc to a marginal buyer who ca n't afford both the mortgage and needed repairs and having little vested interest that buyer will walk away and the vicious cycle repeats itself all over again


Paul Padget


( S ( NP-SBJ-1 ( NN DISASTER ) ( NNS STATES ) ) ( VP ( VBP are ) ( RB n't ) ( VP ( VBG jumping ) ( S-CLR ( VP ( TO to ) ( VP ( VB raise ) ( NP ( NNS taxes ) ) ( PP-PRP ( IN for ) ( NP ( NN relief ) ( CC and ) ( NN recovery ) ) ) ) ) ) ) ) )

DISASTER STATES are n't jumping to raise taxes for relief and recovery


( FRAG ( ADVP-TMP ( RB Not ) ( RB yet ) ) ( ADVP ( RB anyway ) ) )

Not yet anyway


( S ( SBAR-TMP ( ADVP ( RB Just ) ) ( IN after ) ( S ( NP-SBJ ( NNP Hurricane ) ( NNP Hugo ) ) ( VP ( VBD battered ) ( NP ( NNP South ) ( NNP Carolina ) ) ) ) ) ( NP-SBJ ( DT some ) ( NNS officials ) ) ( VP ( VBD talked ) ( PP-CLR ( IN of ) ( NP ( S-NOM ( ADVP ( RB perhaps ) ) ( VP ( VBG adding ) ( NP ( DT a ) ( NN penny ) ) ( PP-CLR ( TO to ) ( NP ( DT the ) ( NN state ) ( NN gasoline ) ( NN tax ) ) ) ) ) ( CC or ) ( S-NOM ( VP ( VBG raising ) ( NP ( NN property ) ( NNS taxes ) ) ) ) ) ) ) )

Just after Hurricane Hugo battered South Carolina some officials talked of perhaps adding a penny to the state gasoline tax or raising property taxes


( S ( NP-SBJ ( NNP Gov. ) ( NNP Campbell ) ) ( VP ( VBD responded ) ( S ( NP-SBJ ( PRP They ) ) ( VP ( VBP 're ) ( VP ( VBG mentioning ) ( NP ( NN rope ) ) ( SBAR-TMP ( WHADVP-1 ( WRB when ) ) ( S ( NP-SBJ ( EX there ) ) ( VP ( VBZ 's ) ( VP ( VBN been ) ( NP-PRD ( DT a ) ( NN hanging ) ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( NN family ) ) ) ) ) ) ) ) ) ) ) )

Gov. Campbell responded They 're mentioning rope when there 's been a hanging in the family


( S ( NP-SBJ ( DT A ) ( NN spokesman ) ) ( VP ( VBZ says ) ( SBAR ( S ( NP-SBJ ( DT the ) ( NN governor ) ) ( VP ( VBZ believes ) ( SBAR ( S ( NP-SBJ-1 ( PRP he ) ) ( VP ( MD can ) ( VP ( VB avoid ) ( NP ( NNS increases ) ) ( PP-MNR ( IN by ) ( S-NOM ( VP ( VP ( VBG relying ) ( PP-CLR ( IN on ) ( NP ( JJ federal ) ( NN aid ) ) ) ) ( CC and ) ( VP ( VBG shifting ) ( NP ( NP ( NNS funds ) ) ( PP-LOC ( IN in ) ( NP ( NN state ) ( NNS programs ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

A spokesman says the governor believes he can avoid increases by relying on federal aid and shifting funds in state programs


( S ( ADVP ( RB Still ) ) ( NP-SBJ ( NP ( NNP Hugo ) ( POS 's ) ) ( NN impact ) ) ( VP ( MD may ) ( VP ( VB revive ) ( NP ( JJ unsuccessful ) ( NNS proposals ) ( S ( VP ( TO to ) ( VP ( VB give ) ( NP ( JJ local ) ( NNS governments ) ) ( NP ( NN authority ) ( S ( VP ( TO to ) ( VP ( VB levy ) ( NP ( JJ sales ) ( NNS taxes ) ) ) ) ) ) ) ) ) ) ) ) )

Still Hugo 's impact may revive unsuccessful proposals to give local governments authority to levy sales taxes


( S ( NP-SBJ ( NP ( DT A ) ( NN spokesman ) ) ( PP ( IN for ) ( NP ( NNP North ) ( NNP Carolina ) ( NNP Gov. ) ( NNP Martin ) ) ) ) ( VP ( VBZ says ) ( SBAR ( S ( NP-SBJ ( NNP Hugo ) ) ( VP ( VBZ has ) ( RB n't ) ( VP ( VBN prompted ) ( NP ( NP ( NNS proposals ) ) ( PP ( IN for ) ( NP ( UCP ( NN state ) ( CC or ) ( JJ local ) ) ( NNS increases ) ) ) ) ) ) ) ) ) )

A spokesman for North Carolina Gov. Martin says Hugo has n't prompted proposals for state or local increases


( S ( NP-SBJ ( NP ( NNP California ) ) ( SBAR ( WHADVP-1 ( WRB where ) ) ( S ( NP-SBJ ( NN earthquake ) ( NN damage ) ) ( VP ( MD may ) ( VP ( VB top ) ( NP ( QP ( CD 5 ) ( CD billion ) ) ) ) ) ) ) ) ( VP ( VBZ plans ) ( NP ( DT a ) ( JJ special ) ( JJ legislative ) ( NN session ) ) ) )

California where earthquake damage may top 5 billion plans a special legislative session


( S ( NP-SBJ ( JJ Property-tax ) ( NN relief ) ) ( VP ( VBZ is ) ( ADJP-PRD ( JJ likely ) ) ) )

Property-tax relief is likely


( S ( NP-SBJ ( NNS Legislators ) ) ( VP ( VBP are ) ( VP ( VBG talking ) ( PP-CLR ( IN about ) ( NP ( NP ( JJ temporary ) ( NNS rises ) ) ( PP-LOC ( IN in ) ( NP ( NNS sales ) ( CC or ) ( NN gasoline ) ( NNS taxes ) ) ) ) ) ( SBAR-ADV ( IN although ) ( S ( NP-SBJ ( NNP Gov. ) ( NNP Deukmejian ) ) ( VP ( VBZ says ) ( SBAR ( S ( NP-SBJ ( PRP they ) ) ( VP ( MD should ) ( VP ( VB be ) ( NP-PRD ( DT a ) ( JJ last ) ( NN resort ) ) ) ) ) ) ) ) ) ) ) )

Legislators are talking about temporary rises in sales or gasoline taxes although Gov. Deukmejian says they should be a last resort


( S ( S ( NP-SBJ ( NNS Needs ) ) ( VP ( VBP are ) ( RB n't ) ( ADJP-PRD ( JJ clear ) ) ) ) ( CC and ) ( S ( NP-SBJ ( DT the ) ( NN state ) ( NN constitution ) ) ( VP ( VBZ makes ) ( S ( S-NOM-SBJ ( VP ( VBG increasing ) ( NP ( NNS taxes ) ( CC and ) ( VBG spending ) ) ) ) ( ADJP-PRD ( RB very ) ( JJ difficult ) ) ) ) ) )

Needs are n't clear and the state constitution makes increasing taxes and spending very difficult


( S ( CC But ) ( NP-SBJ ( DT some ) ( NNS legislators ) ) ( VP ( VBP think ) ( SBAR ( S ( NP-SBJ ( DT the ) ( NN time ) ) ( VP ( MD may ) ( VP ( VB be ) ( ADJP-PRD ( JJ ripe ) ( S ( VP ( TO to ) ( VP ( VB revise ) ( NP ( DT the ) ( NN constitution ) ) ) ) ) ) ) ) ) ) ) )

But some legislators think the time may be ripe to revise the constitution


( S ( NP-SBJ ( DT THE ) ( NNP IRS ) ) ( VP ( MD WILL ) ( VP ( VB PAY ) ( SBAR-ADV ( IN if ) ( S ( NP-SBJ ( PRP$ its ) ( NN error ) ) ( VP ( VBZ burdens ) ( NP ( PRP you ) ) ( PP-CLR ( IN with ) ( NP ( NN bank ) ( NNS charges ) ) ) ) ) ) ) ) )

THE IRS WILL PAY if its error burdens you with bank charges


( S ( NP-SBJ ( NN Policy ) ( NN statement ) ( NNP P-5-39 ) ) ( VP ( VBZ sets ) ( PRT ( RP out ) ) ( NP ( NNS terms ) ) ) )

Policy statement P-5-39 sets out terms


( S ( PP ( IN As ) ( NP ( NP ( DT a ) ( NN result ) ) ( PP ( IN of ) ( NP ( NP ( DT an ) ( JJ erroneous ) ( NNP IRS ) ( NN levy ) ) ( PP ( IN on ) ( NP ( DT a ) ( NN bank ) ( NN account ) ) ) ) ) ) ) ( NP-SBJ ( DT a ) ( NN taxpayer ) ) ( VP ( MD may ) ( VP ( VB incur ) ( NP ( UCP ( JJ administrative ) ( CC and ) ( NN overdraft ) ) ( NNS charges ) ) ) ) )

As a result of an erroneous IRS levy on a bank account a taxpayer may incur administrative and overdraft charges


( S ( SBAR-ADV ( IN If ) ( S ( S ( NP-SBJ ( DT the ) ( NNP IRS ) ) ( VP ( VBZ admits ) ( NP ( PRP$ its ) ( NN error ) ) ) ) ( CC and ) ( S ( NP-SBJ-1 ( DT the ) ( NNS charges ) ) ( VP ( VBP have ) ( VP ( VBN been ) ( VP ( VBN paid ) ) ) ) ) ) ) ( NP-SBJ ( PRP it ) ) ( VP ( MD will ) ( VP ( VB reimburse ) ( NP ( NP ( DT a ) ( NN taxpayer ) ) ( SBAR ( WHNP-2 ( WP who ) ) ( S ( S ( VP ( VBZ has ) ( RB n't ) ( VP ( VBD refused ) ( S ( VP ( TO to ) ( VP ( VB give ) ( NP ( JJ timely ) ( NNS answers ) ) ( PP-DTV ( TO to ) ( NP ( NNP IRS ) ( NNS inquiries ) ) ) ) ) ) ) ) ) ( CC or ) ( S ( VP ( VBZ has ) ( RB n't ) ( VP ( VBN contributed ) ( PP-CLR ( TO to ) ( S-NOM ( VP ( VBG continuing ) ( CC or ) ( VBG compounding ) ( NP ( DT the ) ( NN error ) ) ) ) ) ) ) ) ) ) ) ) ) )

If the IRS admits its error and the charges have been paid it will reimburse a taxpayer who has n't refused to give timely answers to IRS inquiries or has n't contributed to continuing or compounding the error


( S ( NP-SBJ ( DT The ) ( NNP IRS ) ) ( ADVP-TMP ( RB recently ) ) ( VP ( VBD amended ) ( NP-1 ( DT the ) ( NN policy ) ) ( S-PRP ( VP ( TO to ) ( VP ( VB cover ) ( NP ( NP ( NN stop-payment ) ( NNS charges ) ) ( PP ( IN for ) ( NP ( NP ( NNS checks ) ) ( VP ( VBN lost ) ( PP ( IN by ) ( NP-LGS ( DT the ) ( NNP IRS ) ) ) ) ) ) ) ) ) ) ) )

The IRS recently amended the policy to cover stop-payment charges for checks lost by the IRS


( S ( SBAR-ADV ( IN If ) ( S ( NP-SBJ ( DT the ) ( NNP IRS ) ) ( VP ( VP ( VBZ asks ) ( PP-CLR ( IN for ) ) ) ( CC and ) ( VP ( VBZ gets ) ) ( NP-1 ( NP ( DT a ) ( NN replacement ) ) ( PP ( IN for ) ( NP ( NP ( DT a ) ( NN check ) ) ( SBAR ( WHNP-2 ( IN that ) ) ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBZ concedes ) ( SBAR ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBD lost ) ( PP-LOC ( IN in ) ( NP ( NN processing ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ( NP-SBJ ( PRP it ) ) ( VP ( MD will ) ( VP ( VB reimburse ) ( NP ( DT the ) ( NN taxpayer ) ) ( PP ( IN for ) ( NP ( NP ( DT the ) ( NN stop-payment ) ( NN charge ) ) ( PP ( IN on ) ( NP ( DT the ) ( JJ original ) ) ) ) ) ) ) )

If the IRS asks for and gets a replacement for a check that it concedes it lost in processing it will reimburse the taxpayer for the stop-payment charge on the original


( S ( NP-SBJ-1 ( NN Reimbursement ) ( NNS claims ) ) ( VP ( MD must ) ( VP ( VB be ) ( VP ( VBN filed ) ( PP-CLR ( IN with ) ( NP ( DT the ) ( NNP IRS ) ( NN district ) ( CC or ) ( NN service-center ) ( NN director ) ) ) ( PP-TMP ( IN within ) ( NP ( NP ( DT a ) ( NN year ) ) ( SBAR-TMP ( IN after ) ( S ( NP-SBJ ( DT the ) ( NN expense ) ) ( VP ( VBZ accrues ) ) ) ) ) ) ) ) ) )

Reimbursement claims must be filed with the IRS district or service-center director within a year after the expense accrues


( S ( S-TPC-1 ( SBAR-ADV ( IN If ) ( S ( NP-SBJ ( DT the ) ( NNP IRS ) ) ( VP ( VBZ seeks ) ( NP ( NN late-payment ) ( NN interest ) ) ( PP-PRP ( IN because ) ( IN of ) ( NP ( DT the ) ( JJ lost ) ( NN check ) ) ) ) ) ) ( NP-SBJ ( PRP you ) ) ( VP ( MD should ) ( VP ( VB request ) ( NP ( NN interest ) ( NN abatement ) ) ) ) ) ( NP-SBJ ( NN publisher ) ( NNP Prentice ) ( NNP Hall ) ) ( VP ( VBZ notes ) ) )

If the IRS seeks late-payment interest because of the lost check you should request interest abatement publisher Prentice Hall notes


( S ( S-TPC-3 ( NP-SBJ ( NP ( QP ( RB JUST ) ( CD FIVE ) ) ( NNP ACRES ) ) ( ADJP ( JJR MORE ) ) ) ( VP ( VBP are ) ( NP-PRD ( NP ( DT all ) ) ( SBAR ( S ( NP-SBJ-2 ( PRP we ) ) ( VP ( VBP need ) ( S-PRP ( VP ( TO to ) ( VP ( VB feel ) ( PP-PRD ( ADVP ( RB really ) ) ( IN at ) ( NP ( NN home ) ) ) ) ) ) ) ) ) ) ) ) ( NP-SBJ ( PRP they ) ) ( VP ( VBP say ) ) )

JUST FIVE ACRES MORE are all we need to feel really at home they say


( S ( NP-SBJ ( NP ( DT A ) ( NN couple ) ) ( SBAR ( S ( NP-SBJ ( PRP we ) ) ( VP ( MD 'll ) ( VP ( VB call ) ( S ( NP-PRD ( DT the ) ( NNPS Blandings ) ) ) ) ) ) ) ) ( VP ( VP ( VBD spent ) ( NP ( QP ( RB nearly ) ( CD 800,000 ) ) ) ( PP-CLR ( IN on ) ( NP ( DT a ) ( NX ( NX ( JJ 15-acre ) ( NN plot ) ) ( CC and ) ( NX ( JJ main ) ( NN home ) ) ) ) ) ) ( CC and ) ( VP ( VBP have ) ( NP ( NP ( DT an ) ( JJ old ) ( ADJP ( CD 175,000 ) ) ( NN mortgage ) ) ( ADJP ( JJ exempt ) ( PP ( IN from ) ( NP ( NP ( DT the ) ( JJ new ) ( NN limit ) ) ( PP ( IN on ) ( NP ( JJ mortgage-interest ) ( NNS deductions ) ) ) ) ) ) ) ) ) )

A couple we 'll call the Blandings spent nearly 800,000 on a 15-acre plot and main home and have an old 175,000 mortgage exempt from the new limit on mortgage-interest deductions


( S ( NP-SBJ-1 ( PRP They ) ) ( VP ( VBP plan ) ( S ( VP ( TO to ) ( VP ( VB expand ) ( NP ( DT the ) ( NN home ) ( NN site ) ) ( PP-MNR ( IN by ) ( S-NOM ( VP ( VBG buying ) ( NP ( CD five ) ( JJ adjoining ) ( NNS acres ) ) ( PP-CLR ( IN for ) ( NP ( NP ( CD 200,000 ) ) ( VP ( VP ( VBN borrowed ) ( PP ( IN against ) ( NP ( NP ( DT a ) ( JJ first ) ( NN mortgage ) ) ( PP ( IN on ) ( NP ( DT the ) ( CD five ) ( NNS acres ) ) ) ) ) ) ( CC and ) ( ADVP ( RB also ) ) ( VP ( VBN collateralized ) ( PP ( IN by ) ( NP-LGS ( DT the ) ( CD 15 ) ( NNS acres ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

They plan to expand the home site by buying five adjoining acres for 200,000 borrowed against a first mortgage on the five acres and also collateralized by the 15 acres


( S ( NP-SBJ ( PRP$ Their ) ( NN debt ) ) ( VP ( MD will ) ( VP ( VB be ) ( PP-PRD ( ADVP ( RB well ) ) ( IN under ) ( NP ( NP ( DT the ) ( ADJP ( QP ( CD 1 ) ( CD million ) ) ) ( NN limit ) ) ( PRN ( PP ( IN on ) ( S-NOM ( VP ( VBG borrowing ) ( S-PRP ( VP ( TO to ) ( VP ( VB acquire ) ( VB build ) ( CC or ) ( VB improve ) ( NP ( DT a ) ( NN home ) ) ) ) ) ) ) ) ) ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( VP ( VBZ qualifies ) ( PP-CLR ( IN for ) ( NP ( JJ mortgage-interest ) ( NNS deductions ) ) ) ) ) ) ) ) ) ) )

Their debt will be well under the 1 million limit on borrowing to acquire build or improve a home that qualifies for mortgage-interest deductions


( S ( SBAR ( IN As ) ( S ( NP-SBJ ( PRP you ) ) ( VP ( MD can ) ( VP ( VB guess ) ) ) ) ) ( NP-SBJ-1 ( DT the ) ( NNS Blandings ) ) ( VP ( VBP want ) ( S ( VP ( TO to ) ( VP ( VB deduct ) ( NP ( NP ( JJ home-mortgage ) ( NN interest ) ) ( PP ( IN on ) ( NP ( DT the ) ( ADJP ( CD 200,000 ) ) ( NN loan ) ) ) ) ) ) ) ) )

As you can guess the Blandings want to deduct home-mortgage interest on the 200,000 loan


( S-1 ( CC But ) ( PRN ( S ( NP-SBJ ( NNP IRS ) ( JJ private ) ( NN ruling ) ( CD 8940061 ) ) ( VP ( NNS notes ) ) ) ) ( NP-SBJ ( DT no ) ( NX ( NX ( NN rule ) ) ( CC or ) ( NX ( NN court ) ( NN case ) ) ) ) ( VP ( VBZ bears ) ( ADVP-MNR ( RB directly ) ) ( PP-CLR ( IN on ) ( NP ( NP ( DT the ) ( NN issue ) ) ( PP ( IN of ) ( S-NOM ( VP ( VBG adding ) ( NP ( NN land ) ) ( PP-CLR ( TO to ) ( NP ( DT a ) ( JJ principal ) ( NN residence ) ) ) ) ) ) ) ) ) )

But IRS private ruling 8940061 notes no rule or court case bears directly on the issue of adding land to a principal residence


( S ( RB So ) ( NP-SBJ ( DT the ) ( NNP IRS ) ) ( VP ( VBZ has ) ( VP ( VBN drawn ) ( NP ( DT a ) ( NN rationale ) ) ( PP-CLR ( IN from ) ( NP ( NP ( DT the ) ( NN sale ) ) ( PP ( IN of ) ( NP ( NP ( DT a ) ( NN home ) ( NN site ) ) ( VP ( VP ( VBN split ) ( PP-CLR ( IN in ) ( NP ( CD two ) ) ) ) ( CC and ) ( VP ( VBN sold ) ( PP-TMP ( IN in ) ( NP ( JJ different ) ( NNS years ) ) ) ( PP-CLR ( TO to ) ( NP ( DT the ) ( JJ same ) ( NN buyer ) ) ) ) ) ) ) ) ) ( S ( NP-SBJ ( DT a ) ( NN court ) ) ( VP ( VBD let ) ( S ( NP-SBJ ( NP ( DT the ) ( NN seller ) ) ( PP-LOC ( IN in ) ( NP ( DT that ) ( JJ old ) ( NN case ) ) ) ) ( VP ( VB treat ) ( NP ( DT this ) ) ( PP-CLR ( IN as ) ( NP ( NP ( DT the ) ( NN sale ) ) ( PP ( IN of ) ( NP ( CD one ) ( NN residence ) ) ) ) ) ) ) ) ) ) ) )

So the IRS has drawn a rationale from the sale of a home site split in two and sold in different years to the same buyer a court let the seller in that old case treat this as the sale of one residence


( S-1 ( ADVP ( RB Thus ) ) ( PRN ( S ( NP-SBJ ( DT the ) ( NNP IRS ) ) ( VP ( VBZ says ) ) ) ) ( NP-SBJ ( NP ( DT the ) ( NNP Blandings ) ( POS ' ) ) ( ADJP ( CD 200,000 ) ) ( NN loan ) ) ( VP ( VBZ is ) ( NP-PRD ( JJ home-acquisition ) ( NN debt ) ) ) ( CC and ) ( NP-SBJ ( NP ( NN interest ) ) ( PP ( IN on ) ( NP ( PRP it ) ) ) ) ( VP ( VBZ is ) ( ADJP-PRD ( RB fully ) ( JJ deductible ) ) ) )

Thus the IRS says the Blandings ' 200,000 loan is home-acquisition debt and interest on it is fully deductible


( S ( S ( NP-SBJ ( NP ( NN EARTHQUAKE ) ( NNS VICTIMS ) ) ( VP ( VBG facing ) ( NP ( JJ imminent ) ( NN filing ) ( CC and ) ( NN payment ) ( NNS deadlines ) ) ) ) ( VP ( MD will ) ( VP ( VB get ) ( NP ( NP ( NP ( NNS extensions ) ) ( CC and ) ( NP ( NN penalty ) ( NNS waivers ) ) ) ( PP ( IN like ) ( NP ( NP ( DT those ) ) ( ADJP ( VBN provided ) ( PP-CLR ( IN for ) ( NP ( NP ( NNP Hugo ) ( POS 's ) ) ( NNS victims ) ) ) ) ) ) ) ) ) ) ( S ( NP-SBJ ( NNP IRS ) ( NNP Notice ) ( CD 89108 ) ) ( VP ( VBZ has ) ( NP ( NNS details ) ) ) ) )

EARTHQUAKE VICTIMS facing imminent filing and payment deadlines will get extensions and penalty waivers like those provided for Hugo 's victims IRS Notice 89108 has details


( S ( NP-SBJ ( NNP Notice ) ( CD 89-107 ) ) ( VP ( VBZ offers ) ( NP ( NP ( JJ added ) ( NN relief ) ) ( PP ( IN for ) ( NP ( NP ( JJ hurricane-hit ) ( NNS concerns ) ) ( SBAR ( WHNP-108 ( WDT that ) ) ( S ( VP ( MD must ) ( VP ( VB file ) ( NP ( NN pension ) ( CC and ) ( JJ benefit-plan ) ( NNS returns ) ) ) ) ) ) ) ) ) ) )

Notice 89-107 offers added relief for hurricane-hit concerns that must file pension and benefit-plan returns


( S ( S ( NP-SBJ-1 ( NP ( NNS REPORTS ) ) ( PP ( IN OF ) ( NP ( NP ( NP ( NNS PAYMENTS ) ) ( PP ( TO to ) ( NP ( JJ independent ) ( NNS contractors ) ) ) ) ( PP ( IN for ) ( NP ( NNS services ) ) ) ) ) ) ( VP ( MD must ) ( VP ( VB be ) ( VP ( VBN filed ) ( PP ( IN by ) ( NP-LGS ( NNS businesses ) ) ) ) ) ) ) ( CC but ) ( S ( VP ( VBP do ) ( RB n't ) ( VP ( VB bet ) ( SBAR ( IN that ) ( S ( NP-SBJ-2 ( NP ( NNS contractors ) ( POS ' ) ) ( JJ unreported ) ( NN income ) ) ( VP ( MD will ) ( VP ( VB be ) ( VP ( VBN detected ) ( NP-MNR ( DT that ) ( NN way ) ) ) ) ) ) ) ) ) ) )

REPORTS OF PAYMENTS to independent contractors for services must be filed by businesses but do n't bet that contractors ' unreported income will be detected that way


( S ( NP-SBJ ( DT The ) ( NNP General ) ( NNP Accounting ) ( NNP Office ) ) ( VP ( VBZ estimates ) ( SBAR ( IN that ) ( S ( NP-SBJ ( NP ( CD 50 ) ( NN % ) ) ( PP ( IN of ) ( NP ( NNP IRS ) ( NN audits ) ) ) ) ( VP ( VBP do ) ( RB n't ) ( VP ( VB spot ) ( NP ( NP ( NNS companies ) ) ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( VP ( VBP fail ) ( S ( VP ( TO to ) ( VP ( VB file ) ( NP ( DT the ) ( NNS reports ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

The General Accounting Office estimates that 50 % of IRS audits do n't spot companies that fail to file the reports


UH HUH


( S ( S-TPC-1 ( NP-SBJ ( NP ( DT A ) ( NN claim ) ) ( PP ( IN by ) ( NP ( NP ( NNP Peter ) ( NNP Testa ) ) ( PP ( IN of ) ( NP ( NNP New ) ( NNP York ) ) ) ) ) ( SBAR ( IN that ) ( S ( NP-SBJ ( DT a ) ( NN stranger ) ) ( VP ( VBD paid ) ( NP ( PRP him ) ) ( NP ( CD 500 ) ) ( S ( VP ( TO to ) ( VP ( VP ( VB go ) ( PP-DIR ( IN into ) ( NP ( DT a ) ( NN bank ) ) ) ) ( CC and ) ( VP ( VB change ) ( NP ( NP ( CD 44,400 ) ) ( PP-CLR ( IN in ) ( NP ( JJ small ) ( NNS bills ) ) ) ) ( PP-CLR ( IN into ) ( NP ( JJ large ) ( NNS bills ) ) ) ) ) ) ) ) ) ) ) ( VP ( VBZ is ) ( ADJP-PRD ( JJ unconvincing ) ) ) ) ( NP-SBJ ( DT the ) ( NNP Tax ) ( NNP Court ) ) ( VP ( VBD found ) ) )

A claim by Peter Testa of New York that a stranger paid him 500 to go into a bank and change 44,400 in small bills into large bills is unconvincing the Tax Court found


( S ( NP-SBJ ( PRP It ) ) ( VP ( VBD held ) ( SBAR ( IN that ) ( S ( NP-SBJ ( NNP Testa ) ) ( VP ( VBZ is ) ( ADJP-PRD ( JJ taxable ) ) ( PP ( IN on ) ( NP ( NP ( CD 44,400 ) ) ( PP ( IN of ) ( NP ( JJ unreported ) ( NN income ) ) ) ) ) ) ) ) ) )

It held that Testa is taxable on 44,400 of unreported income


( S ( SBARQ-TPC-2 ( WHADVP-1 ( WRB WHY ) ) ( SQ ( VP ( VB BE ) ( NP-PRD ( NP ( DT A ) ( NN MIDDLEMAN ) ) ( PP ( IN for ) ( NP ( JJ charitable ) ( NNS gifts ) ) ) ) ) ) ) ( NP-SBJ ( DT a ) ( NN retiree ) ) ( VP ( VBZ asks ) ) )

WHY BE A MIDDLEMAN for charitable gifts a retiree asks


( S ( S ( NP-SBJ ( NP ( DT A ) ( JJ retired ) ( JJ electrical ) ( NN engineer ) ) ( SBAR ( S ( NP-SBJ ( PRP we ) ) ( VP ( MD 'll ) ( VP ( VB call ) ( S ( NP-PRD ( NNP Ben ) ) ) ) ) ) ) ) ( VP ( VBZ works ) ( ADVP-TMP ( RB part-time ) ) ( PP-CLR ( IN as ) ( NP ( DT a ) ( NN consultant ) ) ) ) ) ( CC but ) ( S ( NP-SBJ-2 ( PRP he ) ) ( VP ( VBZ does ) ( RB n't ) ( VP ( VB want ) ( S ( VP ( TO to ) ( VP ( VB earn ) ( NP ( NP ( RB so ) ( JJ much ) ) ( SBAR ( IN that ) ( S ( NP-SBJ ( NNP Social ) ( NNP Security ) ) ( VP ( VBZ reduces ) ( NP ( PRP$ his ) ( NNS benefits ) ) ) ) ) ) ) ) ) ) ) ) )

A retired electrical engineer we 'll call Ben works part-time as a consultant but he does n't want to earn so much that Social Security reduces his benefits


( S ( RB So ) ( NP-SBJ ( PRP he ) ) ( VP ( VBZ has ) ( VP ( VBN arranged ) ( SBAR-CLR ( IN for ) ( S ( NP-SBJ ( DT a ) ( NN university ) ( NN foundation ) ) ( VP ( TO to ) ( VP ( VB set ) ( PRT ( RP up ) ) ( NP ( NP ( DT a ) ( NN scholarship ) ( NN fund ) ) ( PP ( IN for ) ( NP ( JJ undergraduate ) ( NN engineering ) ( NNS students ) ) ) ) ) ) ) ) ) ) )

So he has arranged for a university foundation to set up a scholarship fund for undergraduate engineering students


( S ( S ( NP-SBJ-1 ( PRP He ) ) ( VP ( VBZ plans ) ( S ( VP ( TO to ) ( VP ( VB tell ) ( NP-2 ( NNS clients ) ) ( S ( VP ( TO to ) ( VP ( VB pay ) ( NP ( JJ certain ) ( NNS fees ) ) ( ADVP-MNR ( RB directly ) ) ( PP ( PP ( TO to ) ( NP ( DT the ) ( NN foundation ) ) ) ( CONJP ( RB instead ) ( IN of ) ) ( PP ( TO to ) ( NP ( PRP him ) ) ) ) ) ) ) ) ) ) ) ) ( S ( NP-SBJ ( PRP he ) ) ( VP ( MD would ) ( VP ( VB omit ) ( NP ( DT those ) ( NNS fees ) ) ( PP-CLR ( IN from ) ( NP ( NP ( NN income ) ) ( VP ( VBN reported ) ( PP-LOC ( IN on ) ( NP ( PRP$ his ) ( NN return ) ) ) ) ) ) ) ) ) )

He plans to tell clients to pay certain fees directly to the foundation instead of to him he would omit those fees from income reported on his return


( S ( IN So ) ( NP-SBJ ( PRP he ) ) ( VP ( VBD asked ) ( NP ( DT the ) ( NNP IRS ) ) ( SBAR ( IN if ) ( S ( NP-SBJ ( DT the ) ( NN plan ) ) ( VP ( MD would ) ( VP ( VB work ) ) ) ) ) ) )

So he asked the IRS if the plan would work


( S-2 ( ADVP ( RB Well ) ) ( PRN ( SINV ( VP ( VBZ notes ) ) ( NP-SBJ ( NNP IRS ) ( JJ private ) ( NN ruling ) ( CD 8934014 ) ) ) ) ( NP-SBJ ( DT a ) ( JJ fundamental ) ( NN principle ) ) ( VP ( VBZ is ) ( SBAR-PRD ( DT that ) ( S ( NP-SBJ-1 ( NN income ) ) ( VP ( MD must ) ( VP ( VB be ) ( VP ( VBN taxed ) ( PP-CLR ( TO to ) ( SBAR-NOM ( WHNP-3 ( WP whoever ) ) ( S ( VP ( VBZ earns ) ( NP ( PRP it ) ) ) ) ) ) ) ) ) ) ) ) )

Well notes IRS private ruling 8934014 a fundamental principle is that income must be taxed to whoever earns it


( S ( S-TPC-1 ( NP-SBJ ( DT The ) ( NN rule ) ) ( VP ( VBZ goes ) ( ADVP-CLR ( RB back ) ) ( ADVP ( ADVP ( ADVP ( IN at ) ( JJS least ) ) ( RB as ) ( RB far ) ) ( PP ( IN as ) ( NP ( DT a ) ( CD 1930 ) ( NNP Supreme ) ( NNP Court ) ( NN decision ) ) ) ) ) ) ( NP-SBJ ( NP ( NNP Robert ) ( NNP Willens ) ) ( PP ( IN of ) ( NP ( NNP Shearson ) ( NNP Lehman ) ( NNP Hutton ) ) ) ) ( VP ( VBZ says ) ) )

The rule goes back at least as far as a 1930 Supreme Court decision Robert Willens of Shearson Lehman Hutton says


( S ( SBAR-ADV ( IN If ) ( S ( NP-SBJ ( PRP you ) ) ( VP ( VBP assign ) ( NP ( PRP$ your ) ( NN income ) ) ( PP-CLR ( TO to ) ( NP ( DT another ) ) ) ) ) ) ( NP-SBJ ( PRP you ) ) ( ADVP-TMP ( RB still ) ) ( VP ( VB have ) ( VP ( VP ( VBN controlled ) ( NP ( PRP$ its ) ( NN disposition ) ) ) ( CC and ) ( VP ( VBN enjoyed ) ( NP ( NP ( DT the ) ( NNS fruits ) ) ( PP ( IN of ) ( NP ( PRP$ your ) ( NN labor ) ) ) ) ( SBAR-ADV ( ADVP ( RB even ) ) ( IN if ) ( FRAG ( ADVP-MNR ( RB indirectly ) ) ) ) ) ) ) )

If you assign your income to another you still have controlled its disposition and enjoyed the fruits of your labor even if indirectly


( S ( S-1 ( NP-SBJ ( NNP Ben ) ) ( VP ( VP ( VBZ earns ) ( NP ( NP ( DT any ) ( NNS fees ) ) ( VP ( VBN sent ) ( ADVP-MNR ( RB directly ) ) ( PP-DIR ( TO to ) ( NP ( NN charity ) ) ) ) ) ) ( CC and ) ( VP ( VBZ is ) ( ADJP-PRD ( JJ taxable ) ) ( PP ( IN on ) ( NP ( PRP them ) ) ) ) ) ) ( PRN ( S ( NP-SBJ ( DT the ) ( NNP IRS ) ) ( VP ( VBZ says ) ) ) ) ( S ( PP ( IN of ) ( NP ( NN course ) ) ) ( NP-SBJ ( PRP he ) ) ( ADVP ( RB also ) ) ( VP ( MD may ) ( VP ( VB take ) ( NP ( DT a ) ( JJ charitable ) ( NN deduction ) ) ( PP ( IN for ) ( NP ( PRP them ) ) ) ) ) ) )

Ben earns any fees sent directly to charity and is taxable on them the IRS says of course he also may take a charitable deduction for them


BRIEFS


( S ( S ( NP-SBJ ( NP ( NNP Ways ) ( CC and ) ( NNP Means ) ( NN veteran ) ( NNP Gephardt ) ) ( PRN ( NP ( NNP D. ) ) ( NP-LOC ( NNP Mo ) ) ) ) ( VP ( VBZ moves ) ( PP-DIR ( TO to ) ( NP ( DT the ) ( NNP House ) ( NNP Budget ) ( NNP Committee ) ) ) ) ) ( S ( NP-SBJ ( NP ( NNP Rep. ) ( NNP Cardin ) ) ( PRN ( NP ( NNP D. ) ) ( NP-LOC ( NNP Md ) ) ) ) ( VP ( VBZ replaces ) ( NP ( PRP him ) ) ) ) )

Ways and Means veteran Gephardt D. Mo moves to the House Budget Committee Rep. Cardin D. Md replaces him