( S ( S ( NP-SBJ ( DT The ) ( NN deal ) ) ( VP ( VBD fell ) ( ADVP-CLR ( RB through ) ) ) ) ( CC and ) ( S ( NP-SBJ ( NNP Kandahar ) ) ( VP ( VBZ remains ) ( NP-PRD ( DT a ) ( JJ major ) ( NN regime ) ( NN base ) ) ) ) )

The deal fell through and Kandahar remains a major regime base


( S ( NP-SBJ ( DT The ) ( NN resistance ) ) ( VP ( VBZ lacks ) ( NP ( RB not ) ( ADVP ( JJ only ) ) ( NP ( NP ( NN air ) ( NN power ) ) ( NP ( NN armor ) ) ( CC and ) ( NP ( NN expertise ) ) ) ( CC but ) ( ADVP-TMP ( RB often ) ) ( NP ( NP ( JJ such ) ( NNS essentials ) ) ( PP ( IN as ) ( NP ( NP ( NNS maps ) ) ( NP ( NN mine ) ( NNS detectors ) ) ( CC or ) ( ADVP ( RB even ) ) ( NP ( NN winter ) ( NNS gloves ) ) ) ) ) ) ) )

The resistance lacks not only air power armor and expertise but often such essentials as maps mine detectors or even winter gloves


( S ( NP-SBJ-1 ( VBN Experienced ) ( NN resistance ) ( NNS commanders ) ) ( VP ( VBD wanted ) ( S ( VP ( TO to ) ( VP ( VB use ) ( NP ( NP ( NN guerrilla ) ( NN action ) ) ( CC and ) ( NP ( NN siege ) ( NNS tactics ) ) ) ( S-CLR ( VP ( TO to ) ( VP ( VB wear ) ( PRT ( RP down ) ) ( NP ( DT the ) ( NN regime ) ) ) ) ) ) ) ) ) )

Experienced resistance commanders wanted to use guerrilla action and siege tactics to wear down the regime


( S ( ADVP ( RB Instead ) ) ( NP-SBJ ( PRP they ) ) ( VP ( VBD were ) ( VP ( JJ pressured ) ( PP ( IN by ) ( NP-LGS ( NP ( NP ( NNP Pakistan ) ( POS 's ) ) ( NNP ISI ) ) ( NP ( NP ( DT the ) ( NN channel ) ) ( PP ( IN for ) ( NP ( PRP$ their ) ( NN support ) ) ) ) ) ) ( PP-CLR ( IN into ) ( S-NOM ( VP ( VBG attacking ) ( NP ( NNP Jalalabad ) ) ) ) ) ) ) )

Instead they were pressured by Pakistan 's ISI the channel for their support into attacking Jalalabad


( S ( S ( NP-SBJ ( PRP They ) ) ( VP ( VBD took ) ( NP ( ADJP ( QP ( RBR more ) ( IN than ) ( CD 25 ) ) ( NN % ) ) ( NNS casualties ) ) ) ) ( S ( NP-SBJ ( NNS journalists ) ) ( VP ( VBP report ) ( SBAR ( IN that ) ( S ( NP-SBJ ( PRP they ) ) ( VP ( VBD faced ) ( NP ( NNS minefields ) ) ( PP ( IN without ) ( NP ( NN mine ) ( NNS detectors ) ) ) ) ) ) ) ) )

They took more than 25 % casualties journalists report that they faced minefields without mine detectors


( S ( NP-SBJ ( DT The ) ( NN wonder ) ) ( VP ( VBZ is ) ( SBAR-PRD ( RB not ) ( SBAR ( IN that ) ( S ( NP-SBJ-1 ( DT the ) ( NN resistance ) ) ( VP ( VBZ has ) ( VP ( VBN failed ) ( S ( VP ( TO to ) ( VP ( VB topple ) ( NP ( DT the ) ( NNP Kabul ) ( NN regime ) ) ) ) ) ) ) ) ) ( CC but ) ( SBAR ( IN that ) ( S ( NP-SBJ-2 ( PRP it ) ) ( VP ( VBZ continues ) ( S ( VP ( TO to ) ( VP ( VB exist ) ( CC and ) ( VB fight ) ) ) ) ) ( ADVP ( IN at ) ( DT all ) ) ) ) ) ) )

The wonder is not that the resistance has failed to topple the Kabul regime but that it continues to exist and fight at all


( S ( S ( NP-TMP ( JJ Last ) ( NN summer ) ) ( PP ( IN in ) ( NP ( NP ( NN response ) ) ( PP ( TO to ) ( NP ( JJ congressional ) ( NN criticism ) ) ) ) ) ( NP-SBJ ( NP ( DT the ) ( NNP State ) ( NNP Department ) ) ( CC and ) ( NP ( DT the ) ( NNP CIA ) ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( PRP they ) ) ( VP ( VBD had ) ( VP ( VBN resumed ) ( NP ( NP ( JJ military ) ( NN aid ) ) ( PP ( TO to ) ( NP ( DT the ) ( NN resistance ) ) ) ) ( SBAR-TMP ( NP ( NNS months ) ) ( IN after ) ( S ( NP-SBJ-3 ( PRP it ) ) ( VP ( VBD was ) ( VP ( VBN cut ) ( PRT ( IN off ) ) ) ) ) ) ) ) ) ) ) ) ( CC but ) ( S ( NP-SBJ ( NP ( PRP it ) ) ) ( VP ( VBZ is ) ( RB not ) ( ADJP-PRD ( JJ clear ) ) ( SBAR-2 ( SBAR ( WHNP-5 ( WRB how ) ( RB much ) ) ( S ( VP ( VBZ is ) ( VP ( VBG being ) ( VP ( VBN sent ) ) ) ) ) ) ( CC or ) ( SBAR ( WHADVP-1 ( WRB when ) ) ( S ( NP-SBJ ( PRP it ) ) ( VP ( MD will ) ( VP ( VB arrive ) ) ) ) ) ) ) ) )

Last summer in response to congressional criticism the State Department and the CIA said they had resumed military aid to the resistance months after it was cut off but it is not clear how much is being sent or when it will arrive


( S ( PP-TMP ( IN For ) ( NP ( NNS months ) ) ) ( NP-SBJ ( DT the ) ( NN resistance ) ) ( VP ( VBZ has ) ( VP ( VBN been ) ( ADJP-PRD ( JJ defenseless ) ( PP ( IN against ) ( NP ( NN air ) ( NN attack ) ) ) ) ) ) )

For months the resistance has been defenseless against air attack


( S ( ADVP-TMP ( RB Thus ) ( RB far ) ) ( NP-SBJ ( EX there ) ) ( VP ( VBZ is ) ( NP-PRD ( DT no ) ( NN indication ) ( SBAR ( IN that ) ( S ( NP-SBJ-1 ( PRP they ) ) ( VP ( VBP have ) ( VP ( VBN been ) ( VP ( VBN re-supplied ) ( PP-CLR ( IN with ) ( NP ( NP ( NNPS Stingers ) ) ( CC or ) ( NP ( JJ other ) ( JJ anti-aircraft ) ( NNS weapons ) ) ) ) ) ) ) ) ) ) ) )

Thus far there is no indication that they have been re-supplied with Stingers or other anti-aircraft weapons


( S ( ADVP ( RB Indeed ) ) ( NP-SBJ ( NNP U.S. ) ( NNS officials ) ) ( VP ( VBP have ) ( VP ( VBN indicated ) ( PP ( TO to ) ( NP ( DT the ) ( NN press ) ) ) ( SBAR ( IN that ) ( S ( NP-SBJ ( NP ( DT the ) ( NN continuation ) ) ( PP ( IN of ) ( NP ( NN aid ) ) ) ) ( VP ( VBZ depends ) ( PP-CLR ( IN on ) ( SBAR ( WHNP-1 ( WDT what ) ( NN success ) ) ( S ( NP-SBJ ( DT the ) ( VBN weakened ) ( NN resistance ) ) ( VP ( VBZ achieves ) ( PP-TMP ( IN by ) ( NP ( NP ( DT the ) ( NN end ) ) ( PP ( IN of ) ( NP ( DT this ) ( NN year ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Indeed U.S. officials have indicated to the press that the continuation of aid depends on what success the weakened resistance achieves by the end of this year


( S ( NP-SBJ ( NNP Moscow ) ( CC and ) ( NNP Kabul ) ) ( VP ( MD must ) ( VP ( VB have ) ( VP ( VBN found ) ( S ( NP-SBJ ( DT that ) ( NN information ) ) ( ADJP-PRD ( JJ useful ) ) ) ) ) ) )

Moscow and Kabul must have found that information useful


( S ( PP-TMP ( IN For ) ( NP ( DT a ) ( NN decade ) ) ) ( NP-SBJ ( NNP U.S. ) ( NN policy ) ) ( VP ( VBZ has ) ( VP ( VBN been ) ( ADJP-PRD ( JJ incoherent ) ) ( PP ( VBN based ) ( PP ( IN on ) ( NP ( NP ( NN miscalculation ) ) ( CC and ) ( NP ( NP ( DT the ) ( NN defense ) ) ( PP ( IN of ) ( NP ( JJ bureaucratic ) ( CC and ) ( JJ political ) ( NN turf ) ) ) ) ) ) ) ) ) )

For a decade U.S. policy has been incoherent based on miscalculation and the defense of bureaucratic and political turf


( S ( NP-SBJ ( NP ( DT No ) ( NN settlement ) ) ( VP ( VBN negotiated ) ( PP ( IN by ) ( NP-LGS ( NNS others ) ) ) ) ) ( VP ( MD can ) ( VP ( VB force ) ( S ( NP-SBJ ( DT the ) ( NNP Afghan ) ( NNS people ) ) ( VP ( TO to ) ( VP ( VB give ) ( PRT ( RP up ) ) ( NP ( PRP$ their ) ( NN struggle ) ) ) ) ) ) ) )

No settlement negotiated by others can force the Afghan people to give up their struggle


( S ( NP-SBJ ( NP ( DT A ) ( NN cutoff ) ) ( PP ( IN of ) ( NP ( NNP U.S. ) ( JJ military ) ( NN aid ) ) ) ) ( VP ( MD would ) ( VP ( ADVP ( RB merely ) ) ( VB abandon ) ( NP-1 ( PRP them ) ) ( S-CLR ( VP ( TO to ) ( VP ( VB die ) ( PP-MNR ( IN in ) ( NP ( JJ vain ) ) ) ) ) ) ) ) )

A cutoff of U.S. military aid would merely abandon them to die in vain


( S ( NP-SBJ ( NP ( NN Creation ) ) ( PP ( IN of ) ( NP ( DT a ) ( JJ new ) ( JJ realistic ) ( NNP U.S. ) ( NN policy ) ) ) ) ( VP ( VBZ is ) ( ADJP-PRD ( RB long ) ( JJ overdue ) ) ) )

Creation of a new realistic U.S. policy is long overdue


( S ( NP-SBJ ( NP ( NNP Ms. ) ( NNP Klass ) ) ( NP ( NP ( NN editor ) ( CC and ) ( NN co-author ) ) ( PP ( IN of ) ( NP ( NP-TTL ( NP ( NNP Afghanistan ) ) ( NP ( NP ( NNP The ) ( NNP Great ) ( NNP Game ) ) ( VP ( NNP Revisited ) ) ) ) ( PRN ( NP ( NNP Freedom ) ( NNP House ) ) ) ) ) ) ) ( VP ( VBZ directs ) ( NP ( NP ( DT the ) ( NNP Freedom ) ( NNP House ) ( NN program ) ) ( PP ( IN on ) ( NP ( NNP Afghanistan\/Southwest ) ( NNP Asia ) ) ) ) ) )

Ms. Klass editor and co-author of Afghanistan The Great Game Revisited Freedom House directs the Freedom House program on Afghanistan\/Southwest Asia


( S ( NP-SBJ-1 ( NNP Coca-Cola ) ( NNPS Enterprises ) ( NNP Inc. ) ) ( S-ADV ( VP ( VBG fulfilling ) ( NP ( NP ( PRP$ its ) ( JJ dismal ) ( NNS earnings ) ( VBN forecast ) ) ( PP ( IN for ) ( NP ( CD 1989 ) ) ) ) ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( PRP$ its ) ( NN third-quarter ) ( NN net ) ( NN income ) ) ( VP ( VBD fell ) ( NP-EXT ( CD 68 ) ( NN % ) ) ( PP ( IN on ) ( NP ( JJ flat ) ( NN revenue ) ) ) ) ) ) ) )

Coca-Cola Enterprises Inc. fulfilling its dismal earnings forecast for 1989 said its third-quarter net income fell 68 % on flat revenue


( S ( S-ADV ( VP ( VBN Stung ) ( PP ( IN by ) ( NP-LGS ( NP ( JJR higher ) ( NN marketing ) ( NNS costs ) ) ( CC and ) ( NP ( VBG slowing ) ( NN volume ) ( NN growth ) ) ) ) ) ) ( NP-SBJ-1 ( DT the ) ( JJ giant ) ( NNP Coke ) ( NN bottling ) ( NN operation ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( NN net ) ) ( VP ( VBD fell ) ( PP-DIR ( TO to ) ( NP ( NP ( QP ( CD 12.7 ) ( CD million ) ) ) ( CC or ) ( NP ( NP ( CD six ) ( NNS cents ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ) ( PP-DIR ( IN from ) ( NP ( NP ( QP ( CD 39.9 ) ( CD million ) ) ) ( CC or ) ( NP ( NP ( CD 26 ) ( NNS cents ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ( ADVP-TMP ( NP ( DT the ) ( NN year ) ) ( RBR earlier ) ) ) ) ) ) ) )

Stung by higher marketing costs and slowing volume growth the giant Coke bottling operation said net fell to 12.7 million or six cents a share from 39.9 million or 26 cents a share the year earlier


( S ( NP-SBJ ( DT The ) ( NNS results ) ) ( VP ( VBD met ) ( NP ( NP ( NNS estimates ) ) ( PP ( IN of ) ( NP ( NP ( NNS analysts ) ) ( SBAR ( WHNP-1 ( WP who ) ) ( S ( VP ( VBD had ) ( ADVP-TMP ( RB already ) ) ( VP ( VBN slashed ) ( NP ( PRP$ their ) ( NNS projections ) ) ( SBAR-TMP ( IN after ) ( S ( NP-SBJ ( DT the ) ( NN company ) ) ( VP ( VBD said ) ( PP-TMP ( IN in ) ( NP ( JJ late ) ( NNP August ) ) ) ( SBAR ( IN that ) ( S ( NP-SBJ ( PRP$ its ) ( CD 1989 ) ( NNS earnings ) ) ( VP ( MD could ) ( VP ( VB tumble ) ( NP-EXT ( QP ( RB as ) ( RB much ) ( IN as ) ( CD 37 ) ) ( NN % ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

The results met estimates of analysts who had already slashed their projections after the company said in late August that its 1989 earnings could tumble as much as 37 %


( S ( NP-SBJ ( DT A ) ( NN company ) ( NN spokesman ) ) ( VP ( VBD said ) ( NP-TMP ( NN yesterday ) ) ( SBAR ( IN that ) ( S ( NP-SBJ ( NNP Coca-Cola ) ( NNPS Enterprises ) ) ( VP ( VBZ sticks ) ( PP-CLR ( IN by ) ( NP ( PRP$ its ) ( CD 1989 ) ( NN forecast ) ) ) ) ) ) ) )

A company spokesman said yesterday that Coca-Cola Enterprises sticks by its 1989 forecast


( S ( NP-SBJ ( NN Third-quarter ) ( NN revenue ) ) ( VP ( VBD was ) ( ADJP-PRD ( JJ flat ) ) ( PP ( IN at ) ( NP ( QP ( CD 1.02 ) ( CD billion ) ) ) ) ) )

Third-quarter revenue was flat at 1.02 billion


( S ( NP-SBJ ( DT The ) ( JJ year-ago ) ( NNS results ) ) ( ADVP ( RB however ) ) ( VP ( VBD included ) ( NP ( NP ( DT the ) ( NNS operations ) ) ( PP ( IN of ) ( NP ( NP ( DT a ) ( NN bottling ) ( NN business ) ) ( SBAR ( WHNP-2 ( WDT which ) ) ( S ( VP ( VBD was ) ( VP ( VBN sold ) ( NP-TMP ( JJ last ) ( NNP December ) ) ) ) ) ) ) ) ) ) )

The year-ago results however included the operations of a bottling business which was sold last December


( S ( S-ADV ( VP ( VBG Excluding ) ( NP ( DT that ) ( NN bottling ) ( NN business ) ) ) ) ( NP-SBJ-1 ( NP ( NP ( NNP Coca-Cola ) ( NNPS Enterprises ) ( POS ' ) ) ( NN volume ) ) ( VP ( VBN measured ) ( PP ( IN by ) ( NP-LGS ( NP ( NNS cases ) ) ( PP ( IN of ) ( NP ( NN soda ) ) ) ) ) ) ) ( VP ( VBD rose ) ( NP-EXT ( QP ( RB only ) ( CD 1 ) ) ( NN % ) ) ) )

Excluding that bottling business Coca-Cola Enterprises ' volume measured by cases of soda rose only 1 %


( S ( NP-SBJ ( DT The ) ( NN volume ) ) ( VP ( VBZ is ) ( PP-PRD ( PP ( ADVP ( RB well ) ) ( IN below ) ( NP ( NP ( NP ( DT the ) ( NN industry ) ( POS 's ) ) ( QP ( CD 4 ) ( NN % ) ( TO to ) ( CD 5 ) ( NN % ) ) ( NN growth ) ( NN rate ) ) ( PP ( IN of ) ( NP ( JJ recent ) ( NNS years ) ) ) ) ) ( CC but ) ( PP ( IN in ) ( NP ( NP ( NN line ) ) ( PP ( IN with ) ( NP ( JJ other ) ( JJ soft-drink ) ( NNS companies ) ) ) ) ) ( PP-TMP ( IN for ) ( NP ( DT the ) ( JJ third ) ( NN quarter ) ) ) ) ) )

The volume is well below the industry 's 4 % to 5 % growth rate of recent years but in line with other soft-drink companies for the third quarter


( S ( NP-SBJ ( DT The ) ( JJS latest ) ( NN third-quarter ) ( NN volume ) ) ( ADVP ( RB also ) ) ( VP ( VBZ compares ) ( PP-CLR ( IN with ) ( NP ( NP ( DT a ) ( ADJP ( RB very ) ( JJ strong ) ) ( ADJP ( CD 10 ) ( NN % ) ) ( NN growth ) ) ( PP-TMP ( IN in ) ( NP ( DT the ) ( JJ year-ago ) ( NN quarter ) ) ) ) ) ) )

The latest third-quarter volume also compares with a very strong 10 % growth in the year-ago quarter


( S ( NP-SBJ ( NNP Coca-Cola ) ( NNPS Enterprises ) ) ( VP ( VBD blamed ) ( NP ( DT the ) ( JJR lower ) ( NN volume ) ) ( PP-CLR ( IN on ) ( NP ( NP ( PRP$ its ) ( JJ soft-drink ) ( NNS prices ) ) ( SBAR ( WHNP-1 ( WDT which ) ) ( S ( VP ( VBD were ) ( ADJP-PRD ( ADJP ( QP ( IN about ) ( CD 3 ) ) ( NN % ) ) ( JJR higher ) ) ( PP-TMP ( IN in ) ( NP ( DT the ) ( JJ third ) ( NN quarter ) ) ) ) ) ) ) ) ) )

Coca-Cola Enterprises blamed the lower volume on its soft-drink prices which were about 3 % higher in the third quarter


( S ( NP-SBJ-1 ( NNS Consumers ) ) ( VP ( VBP have ) ( VP ( VBN been ) ( VP ( VBN accustomed ) ( PP-CLR ( TO to ) ( S-NOM ( VP ( VBG buying ) ( NP ( NNS soft-drinks ) ) ( PP ( IN at ) ( NP ( VBN discounted ) ( NNS prices ) ) ) ) ) ) ( PP-TMP ( IN for ) ( NP ( JJ several ) ( NNS years ) ) ) ) ) ) )

Consumers have been accustomed to buying soft-drinks at discounted prices for several years


( S ( NP-SBJ ( NNP Coca-Cola ) ( NNPS Enterprises ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ-1 ( PRP it ) ) ( VP ( VBD had ) ( S ( VP ( TO to ) ( VP ( VB boost ) ( NP ( NP ( VBG spending ) ) ( PP ( IN for ) ( NP ( NN trade ) ( CC and ) ( NN dealer ) ( NNS incentives ) ) ) ) ( S-PRP ( VP ( TO to ) ( VP ( VB try ) ( S ( VP ( TO to ) ( VP ( VB keep ) ( NP-3 ( NNS volumes ) ) ( PP-CLR ( IN from ) ( S-NOM ( VP ( VBG slipping ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Coca-Cola Enterprises said it had to boost spending for trade and dealer incentives to try to keep volumes from slipping


( S ( NP-SBJ ( DT The ) ( NN company ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBZ expects ) ( SBAR ( S ( NP-SBJ ( NNS consumers ) ) ( VP ( MD will ) ( VP ( VB adjust ) ( PP-CLR ( TO to ) ( NP ( JJ higher-priced ) ( JJ soft ) ( NNS drinks ) ) ) ) ) ) ) ) ) ) ) )

The company said it expects consumers will adjust to higher-priced soft drinks


( S ( NP-SBJ ( DT A ) ( NN spokesman ) ) ( VP ( VBD attributed ) ( NP ( NP ( DT the ) ( NN bulk ) ) ( PP ( IN of ) ( NP ( NP ( DT a ) ( ADJP ( CD 14 ) ( NN % ) ) ( NN increase ) ) ( PP ( IN in ) ( NP ( UCP ( VBG selling ) ( JJ administrative ) ( CC and ) ( JJ general ) ) ( NNS expenses ) ) ) ( PRN ( PP ( TO to ) ( NP ( QP ( CD 324.9 ) ( CD million ) ) ) ) ) ) ) ) ( PP-CLR ( TO to ) ( NP ( NN marketing ) ( NNS costs ) ) ) ) )

A spokesman attributed the bulk of a 14 % increase in selling administrative and general expenses to 324.9 million to marketing costs


( SINV ( S-TPC-1 ( NP-SBJ ( PRP They ) ) ( VP ( VBP 're ) ( PP-PRD ( IN out ) ( NP ( RB there ) ) ) ( S ( VP ( VBG promoting ) ( PP ( IN like ) ( ADJP ( JJ crazy ) ) ) ) ) ( S-ADV ( VP ( VBG trying ) ( S ( VP ( TO to ) ( VP ( VB get ) ( S ( NP-SBJ ( NNS prices ) ) ( ADJP-PRD ( IN up ) ) ) ( PP-MNR ( IN by ) ( NP ( NN promotion ) ) ) ) ) ) ) ) ) ) ( VP ( VBD said ) ) ( NP-SBJ ( NP ( NNP Roy ) ( NNP Burry ) ) ( NP ( NP ( DT an ) ( NN analyst ) ) ( PP ( IN with ) ( NP ( NNP Kidder ) ( NNP Peabody ) ( CC & ) ( NNP Co ) ) ) ) ) )

They 're out there promoting like crazy trying to get prices up by promotion said Roy Burry an analyst with Kidder Peabody & Co


( S ( PP-TMP ( IN For ) ( NP ( DT the ) ( CD nine ) ( NNS months ) ) ) ( NP-SBJ ( NP ( NNP Coca-Cola ) ( NNPS Enterprises ) ( POS ' ) ) ( NN net ) ) ( VP ( VBD fell ) ( NP-EXT ( CD 31 ) ( NN % ) ) ( PP-DIR ( TO to ) ( NP ( NP ( QP ( CD 65 ) ( CD million ) ) ) ( CC or ) ( NP ( NP ( CD 39 ) ( NNS cents ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ) ( PP-DIR ( IN from ) ( NP ( NP ( QP ( CD 93.8 ) ( CD million ) ) ) ( CC or ) ( NP ( NP ( CD 63 ) ( NNS cents ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ) ) )

For the nine months Coca-Cola Enterprises ' net fell 31 % to 65 million or 39 cents a share from 93.8 million or 63 cents a share


( S ( NP-SBJ ( NN Revenue ) ) ( VP ( VBD was ) ( ADJP-PRD ( JJ flat ) ) ( PP ( IN at ) ( NP ( IN about ) ( QP ( CD 2.97 ) ( CD billion ) ) ) ) ) )

Revenue was flat at about 2.97 billion


( S ( NP-SBJ ( NP ( NNP Coca-Cola ) ( NNPS Enterprises ) ) ( SBAR ( WHNP-1 ( WDT which ) ) ( S ( VP ( VBZ is ) ( ADJP-PRD ( JJ 49%-owned ) ( PP ( IN by ) ( NP ( NNP Coca-Cola ) ( NNP Co. ) ) ) ) ) ) ) ) ( ADVP ( RB also ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBD repurchased ) ( NP ( NP ( QP ( IN about ) ( CD 1.2 ) ( CD million ) ) ) ( PP ( IN of ) ( NP ( PRP$ its ) ( JJ common ) ( NNS shares ) ) ) ) ( PP-TMP ( IN during ) ( NP ( DT the ) ( JJ third ) ( NN quarter ) ) ) ) ) ) ) )

Coca-Cola Enterprises which is 49%-owned by Coca-Cola Co. also said it repurchased about 1.2 million of its common shares during the third quarter


( S ( NP-SBJ ( DT The ) ( NN buy-back ) ) ( VP ( VBZ is ) ( NP-PRD ( NP ( NN part ) ) ( PP ( IN of ) ( NP ( NP ( DT a ) ( JJ 25-million-share ) ( VBN repurchase ) ( NN plan ) ) ( SBAR ( WHPP-1 ( IN under ) ( WHNP ( WDT which ) ) ) ( S ( NP-SBJ ( NNP Coca-Cola ) ( NNPS Enterprises ) ) ( ADVP-TMP ( RB so ) ( RB far ) ) ( VP ( VBZ has ) ( VP ( VBN acquired ) ( NP ( NP ( DT a ) ( NN total ) ) ( PP ( IN of ) ( NP ( QP ( CD 9.7 ) ( CD million ) ) ( NNS shares ) ) ) ) ) ) ) ) ) ) ) ) )

The buy-back is part of a 25-million-share repurchase plan under which Coca-Cola Enterprises so far has acquired a total of 9.7 million shares


( S ( ADVP ( RB Separately ) ) ( NP-SBJ ( ADJP ( NNP Purchase ) ( JJ N.Y.-based ) ) ( NNP PepsiCo ) ( NNP Inc. ) ) ( SBAR-ADV ( IN as ) ( S ( VP ( VBN expected ) ) ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( JJ fiscal ) ( NN third-quarter ) ( NN net ) ) ( VP ( VBD rose ) ( NP-EXT ( CD 11 ) ( NN % ) ) ( PP-DIR ( TO to ) ( NP ( NP ( QP ( CD 269.3 ) ( CD million ) ) ) ( CC or ) ( NP ( NP ( CD 1.02 ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ) ( PP-DIR ( IN from ) ( NP ( NP ( QP ( CD 241.6 ) ( CD million ) ) ) ( CC or ) ( NP ( NP ( CD 91 ) ( NNS cents ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ) ) ) ) ) )

Separately Purchase N.Y.-based PepsiCo Inc. as expected said fiscal third-quarter net rose 11 % to 269.3 million or 1.02 a share from 241.6 million or 91 cents a share


( S ( NP-SBJ ( NNS Sales ) ) ( VP ( VBD rose ) ( NP-EXT ( CD 25 ) ( NN % ) ) ( PP-DIR ( TO to ) ( NP ( QP ( CD 3.90 ) ( CD billion ) ) ) ) ( PP-DIR ( IN from ) ( NP ( QP ( CD 3.13 ) ( CD billion ) ) ) ) ) )

Sales rose 25 % to 3.90 billion from 3.13 billion


( S ( NP-SBJ ( NP ( DT The ) ( JJ year-ago ) ( NN quarter ) ( POS 's ) ) ( NNS results ) ) ( VP ( VBP include ) ( NP ( NP ( DT an ) ( JJ after-tax ) ( NN charge ) ) ( PP ( IN of ) ( NP ( QP ( CD 5.9 ) ( CD million ) ) ) ) ( PP ( IN from ) ( NP ( NP ( DT the ) ( NN sale ) ) ( PP ( IN of ) ( NP ( NP ( DT a ) ( NN winery ) ) ( PP-LOC ( IN in ) ( NP ( NNP Spain ) ) ) ) ) ) ) ) ) )

The year-ago quarter 's results include an after-tax charge of 5.9 million from the sale of a winery in Spain


( S ( PP ( IN In ) ( NP ( NP ( JJ composite ) ( NN trading ) ) ( PP-LOC ( IN on ) ( NP ( DT the ) ( NNP New ) ( NNP York ) ( NNP Stock ) ( NNP Exchange ) ) ) ) ) ( NP-SBJ ( NNP Coca-Cola ) ( NNPS Enterprises ) ) ( VP ( VBD closed ) ( PP-CLR ( IN at ) ( NP ( NP ( CD 16.375 ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ( ADVP ( IN down ) ( NP ( CD 62.5 ) ( NNS cents ) ) ) ) )

In composite trading on the New York Stock Exchange Coca-Cola Enterprises closed at 16.375 a share down 62.5 cents


( S ( NP-SBJ ( NNP PepsiCo ) ) ( VP ( VBD closed ) ( PP-CLR ( IN at ) ( NP ( NP ( CD 58.50 ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ( ADVP ( IN up ) ( NP ( CD 1.375 ) ) ) ) )

PepsiCo closed at 58.50 a share up 1.375


( S ( NP-SBJ-1 ( NNP Frank ) ( NNP Carlucci ) ( NNP III ) ) ( VP ( VBD was ) ( VP ( VBN named ) ( PP-CLR ( TO to ) ( NP ( NP ( DT this ) ( NNS telecommunications ) ( NN company ) ( POS 's ) ) ( NN board ) ) ) ( S-ADV ( VP ( VBG filling ) ( NP ( NP ( DT the ) ( NN vacancy ) ) ( VP ( VBN created ) ( PP ( IN by ) ( NP-LGS ( NP ( DT the ) ( NN death ) ) ( PP ( IN of ) ( NP ( NNP William ) ( NNP Sobey ) ) ) ( NP-TMP ( JJ last ) ( NNP May ) ) ) ) ) ) ) ) ) ) )

Frank Carlucci III was named to this telecommunications company 's board filling the vacancy created by the death of William Sobey last May


( S ( NP-SBJ ( NP ( NNP Mr. ) ( NNP Carlucci ) ) ( ADJP ( NP ( CD 59 ) ( NNS years ) ) ( JJ old ) ) ) ( VP ( VBD served ) ( PP-CLR ( IN as ) ( NP ( NN defense ) ( NN secretary ) ) ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( NNP Reagan ) ( NN administration ) ) ) ) )

Mr. Carlucci 59 years old served as defense secretary in the Reagan administration


( S ( PP-TMP ( IN In ) ( NP ( NNP January ) ) ) ( NP-SBJ ( PRP he ) ) ( VP ( VBD accepted ) ( NP ( NP ( DT the ) ( NN position ) ) ( PP ( IN of ) ( NP ( NP ( NN vice ) ( NN chairman ) ) ( PP ( IN of ) ( NP ( NP ( NNP Carlyle ) ( NNP Group ) ) ( NP ( DT a ) ( NN merchant ) ( NN banking ) ( NN concern ) ) ) ) ) ) ) ) )

In January he accepted the position of vice chairman of Carlyle Group a merchant banking concern


( S ( NP-SBJ-1 ( NP ( NNP Microsoft ) ( NNP Corp. ) ( POS 's ) ) ( NNS earnings ) ( NN growth ) ) ( VP ( VBD continued ) ( S ( VP ( TO to ) ( VP ( VB outstrip ) ( NP ( NP ( IN that ) ) ( PP ( IN of ) ( NP ( NP ( JJS most ) ) ( PP ( IN of ) ( NP ( NP ( PRP$ its ) ( NNS competitors ) ( CC and ) ( NNS customers ) ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( NN personal-computer ) ( NN industry ) ) ) ) ) ) ) ) ) ) ) ( SBAR-TMP ( IN as ) ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBD reported ) ( NP ( NP ( DT a ) ( ADJP ( CD 36 ) ( NN % ) ) ( NN jump ) ) ( PP-LOC ( IN in ) ( NP ( JJ fiscal ) ( NN first-quarter ) ( NNS earnings ) ) ) ( PP-LOC ( IN on ) ( NP ( DT a ) ( ADJP ( CD 33 ) ( NN % ) ) ( NN revenue ) ( NN gain ) ) ) ) ) ) ) ) )

Microsoft Corp. 's earnings growth continued to outstrip that of most of its competitors and customers in the personal-computer industry as it reported a 36 % jump in fiscal first-quarter earnings on a 33 % revenue gain


( S ( NP-SBJ ( NP ( DT The ) ( NAC-LOC ( NNP Redmond ) ( NNP Wash. ) ) ( NN company ) ) ( NP ( NP ( DT a ) ( NN bellwether ) ( NN provider ) ) ( PP ( IN of ) ( NP ( NP ( VBG operating ) ( NNS systems ) ) ( CC and ) ( NP ( NN software ) ) ) ) ( PP ( IN for ) ( NP ( NN personal-computer ) ( NNS makers ) ( CC and ) ( NNS users ) ) ) ) ) ( VP ( VBD reported ) ( NP ( NP ( JJ net ) ( NN income ) ) ( PP ( IN for ) ( NP ( NP ( DT the ) ( NN quarter ) ) ( VP ( VBD ended ) ( NP-TMP-CLR ( NNP Sept. ) ( CD 30 ) ) ) ) ) ( PP ( IN of ) ( NP ( NP ( QP ( CD 49.6 ) ( CD million ) ) ) ( CC or ) ( NP ( NP ( CD 87 ) ( NNS cents ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ( ADVP ( IN up ) ( PP ( IN from ) ( NP ( NP ( QP ( CD 36.6 ) ( CD million ) ) ) ( CC or ) ( NP ( NP ( CD 65 ) ( NNS cents ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ( PP-TMP ( IN in ) ( NP ( DT the ) ( JJ year-ago ) ( NN period ) ) ) ) ) ) ) ) ) )

The Redmond Wash. company a bellwether provider of operating systems and software for personal-computer makers and users reported net income for the quarter ended Sept. 30 of 49.6 million or 87 cents a share up from 36.6 million or 65 cents a share in the year-ago period


( S ( NP-SBJ ( NN Revenue ) ) ( VP ( VBD rose ) ( PP-DIR ( TO to ) ( NP ( QP ( CD 235.2 ) ( CD million ) ) ) ) ( PP-DIR ( IN from ) ( NP ( QP ( CD 176.4 ) ( CD million ) ) ) ) ) )

Revenue rose to 235.2 million from 176.4 million


( S ( NP-SBJ ( NNP Microsoft ) ) ( ADVP-TMP ( RB previously ) ) ( VP ( VBD indicated ) ( SBAR ( S ( NP-SBJ ( PRP it ) ) ( VP ( MD would ) ( VP ( VB have ) ( NP ( DT a ) ( JJ strong ) ( NN quarter ) ) ) ) ) ) ( PP-MNR ( IN by ) ( S-NOM ( VP ( VBG forecasting ) ( NP ( PRP$ its ) ( NN revenue ) ( NN gain ) ) ( PP-TMP ( IN on ) ( NP ( NNP Oct. ) ( CD 4 ) ) ) ( S-ADV ( VP ( VBG causing ) ( NP ( NP ( DT a ) ( ADJP ( NP ( CD 6.50 ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ( NN jump ) ) ( PP-LOC ( IN in ) ( NP ( PRP$ its ) ( NN stock ) ) ) ) ) ) ) ) ) ) )

Microsoft previously indicated it would have a strong quarter by forecasting its revenue gain on Oct. 4 causing a 6.50 a share jump in its stock


( S ( CC But ) ( NP-SBJ ( PRP$ its ) ( NN stock ) ) ( VP ( VBD jumped ) ( ADVP-TMP ( RB again ) ) ( NP-TMP ( NN yesterday ) ) ( SBAR-TMP ( IN as ) ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBD disclosed ) ( NP ( NP ( ADJP ( RB surprisingly ) ( JJ strong ) ) ( NNS margins ) ) ( PP-LOC ( IN on ) ( NP ( DT those ) ( NNS sales ) ) ) ) ) ) ) ) )

But its stock jumped again yesterday as it disclosed surprisingly strong margins on those sales


( S ( NP-SBJ ( NP ( NNP Microsoft ) ( POS 's ) ) ( NN stock ) ) ( VP ( VBD rose ) ( NP-EXT ( NP ( CD 2.875 ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ( PP-LOC ( IN in ) ( NP ( JJ national ) ( JJ over-the-counter ) ( NN trading ) ) ) ( PP ( TO to ) ( NP ( CD 78.625 ) ) ) ) )

Microsoft 's stock rose 2.875 a share in national over-the-counter trading to 78.625


( S ( NP-SBJ ( DT The ) ( NN stock ) ) ( VP ( VBD had ) ( VP ( VP ( VBN hit ) ( NP ( NP ( DT a ) ( JJ high ) ) ( PP ( IN of ) ( NP ( NP ( CD 81 ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ) ( ADVP-TMP ( JJ early ) ( NP ( JJ last ) ( NN week ) ) ) ) ( CC but ) ( VP ( VBD collapsed ) ( PP-DIR ( TO to ) ( NP ( CD 73.50 ) ) ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( NNP Friday ) ( NN stock ) ( NN plunge ) ) ) ) ) ) )

The stock had hit a high of 81 a share early last week but collapsed to 73.50 in the Friday stock plunge


( S ( NP-SBJ ( DT The ) ( NN company ) ) ( VP ( VBD had ) ( VP ( VBN been ) ( VP ( VBG experiencing ) ( NP ( VBG softening ) ( NNS margins ) ) ( PP-PRP ( IN because ) ( IN of ) ( NP ( NP ( VBN increased ) ( NNS sales ) ) ( PP ( IN of ) ( NP ( NP ( NN software ) ( NNS applications ) ) ( SBAR ( WHNP-1 ( WDT which ) ) ( S ( VP ( VBP have ) ( NP ( NP ( JJR lower ) ( NNS margins ) ) ( SBAR ( IN than ) ( SINV ( VP ( VBP do ) ) ( NP-SBJ ( VBG operating ) ( NNS systems ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

The company had been experiencing softening margins because of increased sales of software applications which have lower margins than do operating systems


( S ( CC But ) ( NP-SBJ ( DT the ) ( NN company ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ-1 ( DT that ) ( NN trend ) ) ( VP ( VBD was ) ( VP ( VBN offset ) ( PP-TMP ( IN in ) ( NP ( DT the ) ( JJ first ) ( NN quarter ) ) ) ( PP ( IN by ) ( NP-LGS ( NP ( NP ( JJR better ) ( NNS economies ) ) ( PP ( IN of ) ( NP ( NN scale ) ) ) ) ( CC and ) ( NP ( NP ( NNS efficiencies ) ) ( PP-LOC ( IN in ) ( NP ( NN manufacturing ) ) ) ) ) ) ) ) ) ) ) )

But the company said that trend was offset in the first quarter by better economies of scale and efficiencies in manufacturing


( S ( PP ( IN As ) ( NP ( DT a ) ( NN result ) ) ) ( NP-SBJ ( NP ( NP ( NNP Microsoft ) ( POS 's ) ) ( NN cost ) ( PP ( IN of ) ( NP ( NNS goods ) ) ) ) ( PP ( IN as ) ( NP ( NP ( DT a ) ( NN percentage ) ) ( PP ( IN of ) ( NP ( NNS sales ) ) ) ) ) ) ( VP ( VBD fell ) ( NP-EXT ( NP ( NP ( CD 17 ) ( NN % ) ) ( PP ( IN from ) ( NP ( DT the ) ( JJ year-ago ) ( NN quarter ) ) ) ) ( CC and ) ( NP ( NP ( CD 13 ) ( NN % ) ) ( PP ( IN from ) ( NP ( DT the ) ( JJ previous ) ( NN period ) ) ) ) ) ) )

As a result Microsoft 's cost of goods as a percentage of sales fell 17 % from the year-ago quarter and 13 % from the previous period


( S ( NP-SBJ ( DT The ) ( NN trend ) ) ( VP ( VBD drove ) ( ADVP-DIR ( IN up ) ) ( NP ( NP ( DT the ) ( NN aftertax ) ( NN margin ) ) ( PRN ( NP ( NP ( JJ net ) ( NN income ) ) ( PP ( IN as ) ( NP ( NP ( DT a ) ( NN percentage ) ) ( PP ( IN of ) ( NP ( NNS revenues ) ) ) ) ) ) ) ) ( PP-DIR ( TO to ) ( NP ( CD 21.1 ) ( NN % ) ) ) ( PP-TMP ( IN in ) ( NP ( DT the ) ( NN quarter ) ) ) ( PP ( VBN compared ) ( PP ( IN with ) ( NP ( CD 20.7 ) ( NN % ) ) ( ADVP-TMP ( NP ( DT a ) ( NN year ) ) ( RBR earlier ) ) ) ) ) )

The trend drove up the aftertax margin net income as a percentage of revenues to 21.1 % in the quarter compared with 20.7 % a year earlier


( S ( NP-SBJ ( NNP Microsoft ) ( NNS officials ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( DT the ) ( JJ strong ) ( NNS results ) ) ( ADVP ( RB also ) ) ( VP ( VBD reflected ) ( NP ( NP ( VBG continuing ) ( JJ high ) ( NN demand ) ) ( PP ( IN for ) ( NP ( NP ( PRP$ its ) ( NN software ) ( NNS applications ) ) ( CC and ) ( NP ( VBG operating ) ( NNS systems ) ) ) ) ) ) ) ) ) )

Microsoft officials said the strong results also reflected continuing high demand for its software applications and operating systems


( S ( SBAR-ADV ( IN While ) ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBZ has ) ( VP ( VBN predicted ) ( SBAR ( IN that ) ( S ( NP-SBJ ( NP ( JJ overall ) ( NN growth ) ) ( PP-LOC ( IN in ) ( NP ( NP ( NN unit ) ( NNS sales ) ) ( PP ( IN of ) ( NP ( JJ personal ) ( NNS computers ) ) ) ) ) ) ( VP ( VBZ is ) ( VP ( VBG slowing ) ( PP-DIR ( TO to ) ( NP ( IN about ) ( DT a ) ( ADJP ( CD 10 ) ( NN % ) ) ( JJ yearly ) ( NN rate ) ) ) ) ) ) ) ) ) ) ) ( NP-SBJ ( PRP$ its ) ( JJ own ) ( NNS products ) ) ( VP ( VBP are ) ( VP ( VBG selling ) ( PP-CLR ( IN at ) ( NP ( DT a ) ( ADJP ( JJ much ) ( JJR faster ) ) ( NN rate ) ) ) ( SBAR-PRP ( IN because ) ( S ( NP-SBJ-1 ( JJ many ) ) ( VP ( VBP are ) ( VP ( VBN geared ) ( PP-DIR ( TO to ) ( NP ( NP ( DT the ) ( NN high-performance ) ( NN end ) ) ( PP ( IN of ) ( NP ( DT the ) ( NN market ) ) ) ) ) ) ) ) ) ) ) )

While it has predicted that overall growth in unit sales of personal computers is slowing to about a 10 % yearly rate its own products are selling at a much faster rate because many are geared to the high-performance end of the market


( S ( NP-SBJ-1 ( DT That ) ( NN segment ) ) ( VP ( VBZ continues ) ( S ( VP ( TO to ) ( VP ( VB post ) ( NP ( JJ strong ) ( JJ quarter-to-quarter ) ( NNS gains ) ) ) ) ) ( SBAR-TMP ( IN while ) ( S ( NP-SBJ ( NP ( DT the ) ( NX ( NX ( NN low-end ) ) ( CC or ) ( NX ( NN commodity ) ( NN segment ) ) ) ) ( PP ( IN of ) ( NP ( DT the ) ( NN industry ) ) ) ) ( VP ( VBZ is ) ( VP ( VBG experiencing ) ( NP ( NP ( JJ sluggish ) ( NN growth ) ) ( CC or ) ( ADVP ( JJ even ) ) ( NP ( NNS sales ) ( NNS declines ) ) ) ) ) ) ) ) )

That segment continues to post strong quarter-to-quarter gains while the low-end or commodity segment of the industry is experiencing sluggish growth or even sales declines


( S ( PP ( VBN Compared ) ( PP ( IN with ) ( NP ( NP ( PRP$ its ) ( JJ previous ) ( NN quarter ) ) ( NP ( NP ( DT the ) ( JJ final ) ( NN period ) ) ( PP ( IN of ) ( NP ( PRP$ its ) ( CD 1989 ) ( JJ fiscal ) ( NN year ) ) ) ) ) ) ) ( S ( NP-SBJ ( NN net ) ) ( VP ( VBD rose ) ( NP-EXT ( CD 9 ) ( NN % ) ) ) ) ( CC and ) ( S ( NP-SBJ ( NNS sales ) ) ( VP ( VBD rose ) ( NP-EXT ( CD 7 ) ( NN % ) ) ) ) )

Compared with its previous quarter the final period of its 1989 fiscal year net rose 9 % and sales rose 7 %


( S ( NP-SBJ ( NP ( NNP Rockwell ) ( NNP International ) ( NNP Corp. ) ( POS 's ) ) ( NNP Tulsa ) ( NN unit ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBD signed ) ( NP ( NP ( DT a ) ( JJ tentative ) ( NN agreement ) ) ( VP ( VBG extending ) ( NP ( NP ( NP ( PRP$ its ) ( NN contract ) ) ( PP ( IN with ) ( NP ( NNP Boeing ) ( NNP Co. ) ) ) ) ( S-1 ( VP ( TO to ) ( VP ( VB provide ) ( NP ( NP ( JJ structural ) ( NNS parts ) ) ( PP ( IN for ) ( NP ( NP ( NNP Boeing ) ( POS 's ) ) ( CD 747 ) ( NNS jetliners ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Rockwell International Corp. 's Tulsa unit said it signed a tentative agreement extending its contract with Boeing Co. to provide structural parts for Boeing 's 747 jetliners


( S ( NP-SBJ ( NNP Rockwell ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( DT the ) ( NN agreement ) ) ( VP ( VBZ calls ) ( SBAR-CLR ( IN for ) ( S ( NP-SBJ ( PRP it ) ) ( VP ( TO to ) ( VP ( VB supply ) ( NP ( CD 200 ) ( JJ additional ) ( JJ so-called ) ( NNS shipsets ) ) ( PP ( IN for ) ( NP ( DT the ) ( NNS planes ) ) ) ) ) ) ) ) ) ) ) )

Rockwell said the agreement calls for it to supply 200 additional so-called shipsets for the planes


( S ( NP-SBJ ( DT These ) ) ( VP ( VBP include ) ( PP-LOC ( IN among ) ( NP ( JJ other ) ( NNS parts ) ) ) ( NP ( NP ( NP ( DT each ) ( NN jetliner ) ( POS 's ) ) ( CD two ) ( JJ major ) ( NNS bulkheads ) ) ( NP ( DT a ) ( NN pressure ) ( NN floor ) ) ( NP ( NN torque ) ( NN box ) ) ( NP ( NP ( VBN fixed ) ( VBG leading ) ( NNS edges ) ) ( PP ( IN for ) ( NP ( DT the ) ( NNS wings ) ) ) ) ( CC and ) ( NP ( DT an ) ( JJ aft ) ( NN keel ) ( NN beam ) ) ) ) )

These include among other parts each jetliner 's two major bulkheads a pressure floor torque box fixed leading edges for the wings and an aft keel beam


( S ( PP-LOC ( IN Under ) ( NP ( DT the ) ( VBG existing ) ( NN contract ) ) ) ( PRN ( NP-SBJ ( NNP Rockwell ) ) ( VP ( VBD said ) ) ) ( NP-SBJ ( PRP it ) ) ( VP ( VBZ has ) ( ADVP-TMP ( RB already ) ) ( VP ( VBN delivered ) ( NP ( NP ( CD 793 ) ) ( PP ( IN of ) ( NP ( DT the ) ( NNS shipsets ) ) ) ) ( PP-CLR ( TO to ) ( NP ( NNP Boeing ) ) ) ) ) )

Under the existing contract Rockwell said it has already delivered 793 of the shipsets to Boeing


( S ( NP-SBJ ( NP ( NNP Rockwell ) ) ( VP ( VBN based ) ( PP-LOC-CLR ( IN in ) ( NP ( NP ( NNP El ) ( NNP Segundo ) ) ( NP ( NNP Calif. ) ) ) ) ) ) ( VP ( VBZ is ) ( NP-PRD ( DT an ) ( UCP ( NN aerospace ) ( NNS electronics ) ( JJ automotive ) ( CC and ) ( NNS graphics ) ) ( NN concern ) ) ) )

Rockwell based in El Segundo Calif. is an aerospace electronics automotive and graphics concern


( S ( NP-SBJ ( NNP B.F. ) ( NNP Goodrich ) ( NNP Co. ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( JJ third-quarter ) ( NNS profits ) ) ( VP ( VBD dropped ) ( NP-EXT ( CD 34 ) ( NN % ) ) ( PP-PRP ( IN because ) ( IN of ) ( NP ( NP ( JJR lower ) ( NNS prices ) ) ( PP ( IN for ) ( NP ( NP ( NN polyvinyl ) ( NN chloride ) ( NNS materials ) ) ( NP ( NP ( DT the ) ( NN company ) ( POS 's ) ) ( JJS largest ) ( NN product ) ( NN group ) ) ) ) ) ) ) ) ) ) )

B.F. Goodrich Co. said third-quarter profits dropped 34 % because of lower prices for polyvinyl chloride materials the company 's largest product group


( S ( NP-SBJ ( NN Net ) ) ( VP ( VBD fell ) ( PP-DIR ( TO to ) ( NP ( NP ( QP ( CD 40.1 ) ( CD million ) ) ) ( CC or ) ( NP ( NP ( CD 1.50 ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ) ( PP-DIR ( IN from ) ( NP ( NP ( QP ( CD 60.7 ) ( CD million ) ) ) ( CC or ) ( NP ( NP ( CD 2.32 ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ) ( ADVP-TMP ( NP ( DT a ) ( NN year ) ) ( RBR earlier ) ) ) ) )

Net fell to 40.1 million or 1.50 a share from 60.7 million or 2.32 a share a year earlier


( S ( NP-SBJ ( NP ( NNS Sales ) ) ( PP ( IN for ) ( NP ( DT the ) ( NN quarter ) ) ) ) ( VP ( VBD slipped ) ( NP-EXT ( CD 2.7 ) ( NN % ) ) ( PP-DIR ( TO to ) ( NP ( QP ( CD 601.3 ) ( CD million ) ) ) ) ( PP-DIR ( IN from ) ( NP ( QP ( CD 618.1 ) ( CD million ) ) ) ) ) )

Sales for the quarter slipped 2.7 % to 601.3 million from 618.1 million


( SINV ( S-TPC-1 ( S ( NP-SBJ ( NN Polyvinyl ) ( NN chloride ) ( NN capacity ) ) ( VP ( VBZ has ) ( VP ( VBN overtaken ) ( NP ( NN demand ) ) ) ) ) ( CC and ) ( S ( NP-SBJ ( PRP we ) ) ( VP ( VBP are ) ( VP ( VBG experiencing ) ( NP ( VBN reduced ) ( NN profit ) ( NNS margins ) ) ( PP ( IN as ) ( NP ( DT a ) ( NN result ) ) ) ) ) ) ) ( VP ( VBD said ) ) ( NP-SBJ ( NP ( NNP John ) ( NNP D. ) ( NNP Ong ) ) ( NP ( NP ( NN chairman ) ) ( CC and ) ( NP ( NN chief ) ( NN executive ) ) ) ) )

Polyvinyl chloride capacity has overtaken demand and we are experiencing reduced profit margins as a result said John D. Ong chairman and chief executive


( S ( S-TPC-1 ( NP-SBJ ( NP ( NNS Prices ) ) ( PP ( IN for ) ( NP ( JJ general-purpose ) ( NNP PVC ) ( NN resin ) ) ) ) ( VP ( VBP have ) ( VP ( VBN dropped ) ( NP ( QP ( RBR more ) ( IN than ) ( CD 15 ) ) ( NN % ) ) ( PP-TMP ( IN since ) ( NP ( JJ last ) ( NNP December ) ) ) ) ) ) ( NP-SBJ ( PRP he ) ) ( VP ( VBD said ) ) )

Prices for general-purpose PVC resin have dropped more than 15 % since last December he said


( S ( NP-SBJ-1 ( DT The ) ( JJ plastic ) ( NN resin ) ) ( VP ( VBZ is ) ( VP ( VBN used ) ( PP-LOC-CLR ( IN in ) ( NP ( NP ( NP ( DT a ) ( JJ wide ) ( NN range ) ) ( PP ( IN of ) ( NP ( NNS products ) ) ) ) ( PP ( VBG including ) ( NP ( NP ( NN siding ) ) ( NP ( NN pipe ) ) ( CC and ) ( NP ( JJ electrical ) ( NN wire ) ( NN insulation ) ) ) ) ) ) ) ) )

The plastic resin is used in a wide range of products including siding pipe and electrical wire insulation


( S ( NP-SBJ ( NP ( NNP Goodrich ) ( POS 's ) ) ( NNS vinyl-products ) ( NN segment ) ) ( VP ( VBD reported ) ( NP ( NP ( VBG operating ) ( NN profit ) ) ( PP-TMP ( IN for ) ( NP ( DT the ) ( NN quarter ) ) ) ( PP ( IN of ) ( NP ( NP ( QP ( CD 30.1 ) ( CD million ) ) ) ( NP ( NP ( QP ( JJR less ) ( IN than ) ( PDT half ) ( DT the ) ( CD 64.1 ) ( CD million ) ) ) ( PP ( IN of ) ( NP ( DT the ) ( JJ year-earlier ) ( NN quarter ) ) ) ) ) ) ) ) )

Goodrich 's vinyl-products segment reported operating profit for the quarter of 30.1 million less than half the 64.1 million of the year-earlier quarter


( S ( NP-SBJ ( NP ( JJ Third-quarter ) ( VBG operating ) ( NN profit ) ) ( PP ( IN of ) ( NP ( DT the ) ( NNS specialty-chemicals ) ( NN group ) ) ) ) ( VP ( VBD declined ) ( ADVP ( RB slightly ) ) ( PP-DIR ( TO to ) ( NP ( QP ( CD 24.3 ) ( CD million ) ) ) ) ( PP-DIR ( IN from ) ( NP ( QP ( CD 24.9 ) ( CD million ) ) ) ) ) )

Third-quarter operating profit of the specialty-chemicals group declined slightly to 24.3 million from 24.9 million


( S ( CC But ) ( NP-SBJ ( NP ( VBG operating ) ( NN profit ) ) ( PP ( IN from ) ( NP ( NN aerospace ) ( NNS products ) ) ) ) ( VP ( VBD rose ) ( NP-EXT ( QP ( RB nearly ) ( CD 50 ) ) ( NN % ) ) ( PP-DIR ( TO to ) ( NP ( QP ( CD 15 ) ( CD million ) ) ) ) ( PP-DIR ( IN from ) ( NP ( QP ( CD 10.1 ) ( CD million ) ) ) ) ) )

But operating profit from aerospace products rose nearly 50 % to 15 million from 10.1 million


( S ( PP-LOC ( IN In ) ( NP ( NNP New ) ( NNP York ) ( NNP Stock ) ( NNP Exchange ) ( JJ composite ) ( NN trading ) ) ) ( NP-SBJ ( NP ( NNS shares ) ) ( PP ( IN of ) ( NP ( DT the ) ( ADJP ( NNP Akron ) ( JJ Ohio-based ) ) ( NN company ) ) ) ) ( VP ( VBD fell ) ( NP-EXT ( CD 1.375 ) ) ( PP-DIR ( TO to ) ( NP ( CD 49.125 ) ) ) ) )

In New York Stock Exchange composite trading shares of the Akron Ohio-based company fell 1.375 to 49.125


( S ( NP-SBJ ( DT The ) ( NNP Boston ) ( NNP Globe ) ) ( VP ( VBZ says ) ( SBAR ( S ( NP-SBJ ( PRP$ its ) ( ADJP ( RB newly ) ( VBN redesigned ) ) ( NNS pages ) ) ( VP ( VBP have ) ( NP ( DT a ) ( NN crisper ) ( NN look ) ) ( PP ( IN with ) ( NP ( NP ( VBN revamped ) ( NNS fixtures ) ) ( VP ( VBN aimed ) ( PP-CLR ( IN at ) ( S-NOM ( VP ( VBG making ) ( S ( NP-SBJ ( DT the ) ( NN paper ) ) ( ADJP-PRD ( ADJP ( RBR more ) ( JJ consistent ) ) ( CC and ) ( ADJP ( JJR easier ) ( SBAR ( S ( VP ( TO to ) ( VP ( VB read ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

The Boston Globe says its newly redesigned pages have a crisper look with revamped fixtures aimed at making the paper more consistent and easier to read


( FRAG ( ADVP ( RB Maybe ) ( RB so ) ) ( SBAR-ADV ( IN if ) ( S ( NP-SBJ ( PRP you ) ) ( VP ( MD can ) ( VP ( VB find ) ( SBAR ( WHADVP-1 ( WRB where ) ) ( S ( NP-SBJ ( PRP$ your ) ( JJ favorite ) ( NN writer ) ) ( VP ( VBD went ) ) ) ) ) ) ) ) )

Maybe so if you can find where your favorite writer went


( S ( NP-SBJ ( NP ( NNP Beantown ) ( NNS scribes ) ) ( SBAR ( WHNP-1 ( WP who ) ) ( S ( VP ( VBP spare ) ( NP ( DT no ) ( NN invective ) ) ( SBAR-TMP ( WHADVP-3 ( WRB when ) ) ( S ( VP ( VBG taking ) ( PRT ( RP on ) ) ( NP ( NP ( JJ local ) ( NNS luminaries ) ) ( PP ( JJ such ) ( IN as ) ( NP ( NP ( NNP Michael ) ( NNP Pee ) ( NNP Wee ) ( NNP Dukakis ) ) ( CC or ) ( NP ( NNP New ) ( NNP England ) ( NNPS Patriots ) ( NNP Coach ) ( NNP Raymond ) ( NNP Rev. ) ( NNP Ray ) ( NN Berry ) ) ) ) ) ) ) ) ) ) ) ) ( NP-TMP ( NN yesterday ) ) ( VP ( VBD poured ) ( NP ( NN ridicule ) ) ( PP-LOC-CLR ( IN on ) ( NP ( NP ( NP ( JJ new ) ( NNS drawings ) ) ( PP ( IN of ) ( NP ( NNP Globe ) ( NNS columnists ) ) ) ) ( SBAR ( WHNP-2 ( WDT that ) ) ( S ( VP ( VBD replaced ) ( NP ( NP ( JJ old ) ( NNS photos ) ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( VBN revamped ) ( NNS pages ) ) ) ) ( NP-TMP ( DT this ) ( NN week ) ) ) ) ) ) ) ) )

Beantown scribes who spare no invective when taking on local luminaries such as Michael Pee Wee Dukakis or New England Patriots Coach Raymond Rev. Ray Berry yesterday poured ridicule on new drawings of Globe columnists that replaced old photos in the revamped pages this week


( S ( PP-TMP ( IN By ) ( NP ( JJ late ) ( JJ last ) ( NN night ) ) ) ( NP-SBJ-1 ( NNP Globe ) ( NNP Managing ) ( NNP Editor ) ( NP ( NNP Thomas ) ( NNP Mulvoy ) ) ) ( S-ADV ( VP ( VBG bending ) ( PP-DIR ( TO to ) ( NP ( NP ( DT the ) ( NN will ) ) ( PP ( IN of ) ( NP ( PRP$ his ) ( NNS troops ) ) ) ) ) ) ) ( VP ( VBD scrapped ) ( NP ( DT the ) ( JJ new ) ( NNS drawings ) ) ) )

By late last night Globe Managing Editor Thomas Mulvoy bending to the will of his troops scrapped the new drawings


( S ( PP ( IN For ) ( NP ( NP ( DT a ) ( JJ few ) ( NNS days ) ) ( PP ( IN at ) ( ADJP ( JJS least ) ) ) ) ) ( PRN ( NP-SBJ ( PRP he ) ) ( VP ( VBZ says ) ) ) ( NP-SBJ ( NP ( DT no ) ( NNS pictures ) ( CC or ) ( NNS drawings ) ) ( PP ( IN of ) ( NP ( DT any ) ( NN kind ) ) ) ) ( VP ( MD will ) ( VP ( VB adorn ) ( NP ( DT the ) ( NNS columns ) ) ) ) )

For a few days at least he says no pictures or drawings of any kind will adorn the columns


( S ( NP-SBJ ( NN Trouble ) ) ( VP ( VBD was ) ( SBAR-PRD ( S ( NP-SBJ ( NN nobody ) ) ( VP ( VBD thought ) ( SBAR ( S ( NP-SBJ ( PRP they ) ) ( VP ( VBD looked ) ( ADJP-PRD ( RB right ) ) ) ) ) ) ) ) ) )

Trouble was nobody thought they looked right


( S ( NP-SBJ ( NNP Globe ) ( NN columnist ) ( NNP Mike ) ( NNP Barnicle ) ) ( PRN ( PP-LOC ( IN in ) ( NP ( NP ( DT the ) ( JJ second ) ( NN attack ) ) ( PP-LOC ( IN on ) ( NP ( PRP$ his ) ( NN employer ) ) ) ( PP-TMP ( IN in ) ( NP ( RB as ) ( JJ many ) ( NNS weeks ) ) ) ) ) ) ( VP ( VBD averred ) ( SBAR ( IN that ) ( S ( NP-SBJ ( PRP$ his ) ( JJ shadowy ) ( NN countenance ) ) ( VP ( VBD was ) ( ADJP-PRD ( RB so ) ( JJ bad ) ( SBAR ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBD looked ) ( PP ( IN like ) ( NP ( NP ( DT a ) ( NN face ) ) ( SBAR ( S ( NP-SBJ ( PRP you ) ) ( VP ( MD 'd ) ( VP ( VB find ) ( PP-LOC-CLR ( IN on ) ( NP ( NP ( DT a ) ( NN bottle ) ) ( PP ( IN of ) ( NP ( NP ( NN miracle ) ( NN elixir ) ) ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( VP ( VBZ promises ) ( S ( VP ( TO to ) ( VP ( VB do ) ( ADVP-CLR ( RB away ) ) ( PP-CLR ( IN with ) ( NP ( NN diarrhea ) ) ) ( PP-TMP ( IN in ) ( NP ( PRP$ our ) ( NN lifetime ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Globe columnist Mike Barnicle in the second attack on his employer in as many weeks averred that his shadowy countenance was so bad it looked like a face you 'd find on a bottle of miracle elixir that promises to do away with diarrhea in our lifetime


( S ( NP-SBJ ( NNP Mr. ) ( NNP Barnicle ) ) ( VP ( VBD reminded ) ( NP ( NNS readers ) ) ( SBAR ( IN that ) ( S ( NP-SBJ ( PRP he ) ) ( ADVP-TMP ( RB still ) ) ( VP ( VBZ has ) ( RB n't ) ( VP ( VBN forgiven ) ( NP-4 ( NNP Globe ) ( NN management ) ) ( PP-CLR ( IN for ) ( S-NOM ( VP ( VBG questioning ) ( NP ( NP ( DT a ) ( ADJP ( CD 20 ) ) ( NN expense ) ( NN chit ) ) ( SBAR ( S ( NP-SBJ-2 ( PRP he ) ) ( VP ( VBD submitted ) ( PP-PRP ( IN for ) ( S-NOM ( VP ( VBG parking ) ( NP ( PRP$ his ) ( NN car ) ) ( SBAR-TMP ( IN while ) ( S ( VP ( VBG chasing ) ( NP ( DT a ) ( NN story ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Mr. Barnicle reminded readers that he still has n't forgiven Globe management for questioning a 20 expense chit he submitted for parking his car while chasing a story


( S ( S-TPC-4 ( NP-SBJ ( PRP I ) ) ( VP ( VBD thought ) ( S ( NP-SBJ ( DT the ) ( NN drawing ) ) ( NP-PRD ( NP ( DT a ) ( NN cross ) ) ( PP-LOC ( IN between ) ( NP ( NP ( NP ( NN someone ) ) ( SBAR ( S ( NP-SBJ-3 ( PRP you ) ) ( VP ( MD 'd ) ( VP ( VB spot ) ( S ( VP ( VBG whipping ) ( JJ open ) ( NP ( PRP$ his ) ( NN trench ) ( NN coat ) ) ) ) ) ) ) ) ) ( CC or ) ( NP ( NP ( DT a ) ( NN guy ) ) ( SBAR ( WHNP-1 ( WP who ) ) ( S ( VP ( VBD boasted ) ( SBAR ( S ( NP-SBJ ( PRP he ) ) ( VP ( VBD 'd ) ( VP ( VBN been ) ( NP-PRD ( NP ( NNP Charles ) ( NNP Manson ) ( POS 's ) ) ( NN roommate ) ) ( PP-TMP ( IN for ) ( NP ( DT the ) ( JJ last ) ( CD 19 ) ( NNS years ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ( NP-SBJ ( PRP he ) ) ( VP ( VBD said ) ) )

I thought the drawing a cross between someone you 'd spot whipping open his trench coat or a guy who boasted he 'd been Charles Manson 's roommate for the last 19 years he said


( S ( NP-SBJ ( NNP Mr. ) ( NNP Barnicle ) ) ( VP ( VBD was ) ( ADJP-PRD ( RB hardly ) ( JJR kinder ) ) ( PP ( TO to ) ( NP ( NP ( DT the ) ( NNS renderings ) ) ( PP ( IN of ) ( NP ( NP ( NNS colleagues ) ) ( NP ( NP ( NP ( NNP Michael ) ( NNP Madden ) ) ( PRN ( S ( VP ( NNS appears ) ( S ( VP ( TO to ) ( VP ( VB be ) ( NP-PRD ( DT a ) ( NN pervert ) ) ) ) ) ) ) ) ) ( NP ( NP ( NNP Will ) ( NNP McDonough ) ) ( PRN ( S ( VP ( VBZ looks ) ( SBAR ( IN as ) ( IN if ) ( S ( NP-SBJ ( PRP he ) ) ( VP ( VBD drove ) ( PP ( IN for ) ( NP ( NNP Abe ) ( NNP Lincoln ) ) ) ) ) ) ) ) ) ) ( CC or ) ( NP ( NP ( NNP Bella ) ( NNP English ) ) ( SBAR ( WHNP-1 ( WP$ whose ) ( JJ little ) ( NN girl ) ) ( S ( ADVP-TMP ( RB now ) ) ( VP ( VBZ screams ) ( ADVP-MNR ( RB hysterically ) ) ( NP-TMP ( NP ( DT every ) ( NN time ) ) ( SBAR ( S ( NP-SBJ ( PRP she ) ) ( VP ( VBZ sees ) ( NP ( DT a ) ( NN newspaper ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Mr. Barnicle was hardly kinder to the renderings of colleagues Michael Madden appears to be a pervert Will McDonough looks as if he drove for Abe Lincoln or Bella English whose little girl now screams hysterically every time she sees a newspaper


( S ( NP-SBJ ( NP ( NP ( NNP Lynn ) ( NNP Staley ) ) ( NP ( NP ( NP ( DT the ) ( NNP Globe ) ( POS 's ) ) ( NN assistant ) ( VBG managing ) ( NN editor ) ) ( PP ( IN for ) ( NP ( NN design ) ) ) ) ) ) ( VP ( VBZ acknowledges ) ( SBAR ( IN that ) ( S ( NP-SBJ ( DT the ) ( NNS visages ) ) ( VP ( VBD were ) ( PP-LOC-PRD ( IN on ) ( NP ( NP ( DT the ) ( JJ low ) ( NN end ) ) ( PP ( IN of ) ( NP ( DT the ) ( NN likeness ) ( NN spectrum ) ) ) ) ) ) ) ) ) )

Lynn Staley the Globe 's assistant managing editor for design acknowledges that the visages were on the low end of the likeness spectrum


( S ( NP-SBJ ( NP ( NNP Rival ) ( NNP Boston ) ( NNP Herald ) ( NN columnist ) ( NNP Howie ) ( NNP Carr ) ) ( SBAR ( WHNP-1 ( WP who ) ) ( S ( ADVP-TMP ( RB usually ) ) ( VP ( VBZ rails ) ( PP-CLR ( IN at ) ( NP ( NN Statehouse ) ( NNS hacks ) ( CC and ) ( NN nepotism ) ) ) ) ) ) ) ( VP ( VBD argued ) ( SBAR ( IN that ) ( S ( NP-SBJ-2 ( DT the ) ( JJ new ) ( NNS drawings ) ) ( VP ( VBD were ) ( VP-3 ( VBN designed ) ( S-CLR ( VP ( TO to ) ( VP ( VB hide ) ( NP ( NP ( NP ( NNP Mr. ) ( NNP Madden ) ( POS 's ) ) ( ADJP ( RB rapidly ) ( VBG growing ) ) ( NN forehead ) ) ( CC and ) ( NP ( NP ( DT the ) ( JJ facial ) ( NNS defects ) ) ( PP ( IN of ) ( NP ( NP ( JJ chinless ) ( NNP Dan ) ( NNP Shaughnessy ) ) ( NP ( DT a ) ( NNP Globe ) ( NNS sports ) ( NN columnist ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Rival Boston Herald columnist Howie Carr who usually rails at Statehouse hacks and nepotism argued that the new drawings were designed to hide Mr. Madden 's rapidly growing forehead and the facial defects of chinless Dan Shaughnessy a Globe sports columnist


( SINV ( S-2 ( CC But ) ( VP ( VB think ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( NN money ) ) ( SBAR ( S ( NP-SBJ ( NP ( PRP you ) ) ( NP ( DT the ) ( NN reader ) ) ) ( VP ( MD will ) ( VP ( VB save ) ( PP-CLR ( IN on ) ( NP ( NNP Halloween ) ) ) ) ) ) ) ) ) ) ) ( VP ( VBD said ) ) ( NP-SBJ ( NNP Mr. ) ( NNP Barnicle ) ) )

But think of the money you the reader will save on Halloween said Mr. Barnicle


( S ( PP ( RB Instead ) ( IN of ) ( S-NOM ( VP ( VBG buying ) ( NP ( NNS masks ) ) ( PP-BNF ( IN for ) ( NP ( PRP$ your ) ( NNS kids ) ) ) ) ) ) ( ADVP ( RB just ) ) ( VP ( VB cut ) ( PRT ( RP out ) ) ( NP ( NP ( DT the ) ( NNS columnists ) ( POS ' ) ) ( NNS pictures ) ) ) )

Instead of buying masks for your kids just cut out the columnists ' pictures


( S ( S ( NP-SBJ ( NP ( DT The ) ( NNS nations ) ) ( PP ( IN of ) ( NP ( JJ southern ) ( NNP Africa ) ) ) ) ( VP ( VBP know ) ( NP ( NP ( DT a ) ( NN lot ) ) ( PP ( IN about ) ( S-NOM ( VP ( VBG managing ) ( NP ( NNS elephants ) ) ) ) ) ) ) ) ( S ( NP-SBJ ( PRP$ their ) ( NNS herds ) ) ( VP ( VBP are ) ( VP ( VBG thriving ) ) ) ) )

The nations of southern Africa know a lot about managing elephants their herds are thriving


( S ( CC But ) ( NP-SBJ ( NP ( DT the ) ( NNS nations ) ) ( PP ( IN of ) ( NP ( NP ( NNP Europe ) ) ( CC and ) ( NP ( NNP North ) ( NNP America ) ) ) ) ) ( VP ( VBP have ) ( VP ( VBN decided ) ( SBAR ( S ( NP-SBJ ( PRP they ) ) ( VP ( VBP know ) ( ADVP-CLR ( RB better ) ) ) ) ) ) ) )

But the nations of Europe and North America have decided they know better


( S ( PP-LOC ( IN At ) ( NP ( NP ( NP ( DT this ) ( NN week ) ( POS 's ) ) ( NNP U.N. ) ( NN conference ) ) ( PP-LOC ( IN in ) ( NP ( NNP Lausanne ) ) ) ) ) ( NP-SBJ ( PRP they ) ) ( VP ( VBD imposed ) ( NP ( NP ( DT a ) ( JJ global ) ( NN ivory ) ( NN ban ) ) ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( VP ( VBZ seeks ) ( S ( VP ( TO to ) ( VP ( VB overturn ) ( NP ( JJ local ) ( NNS policies ) ) ) ) ) ) ) ) ) ) )

At this week 's U.N. conference in Lausanne they imposed a global ivory ban that seeks to overturn local policies


( S ( NP-SBJ ( DT A ) ( NNP Zimbabwean ) ( NN delegate ) ) ( VP ( VBD argued ) ( SBAR ( IN that ) ( S ( NP-SBJ ( DT the ) ( NN ban ) ) ( VP ( MD would ) ( VP ( VB guarantee ) ( NP ( NP ( DT the ) ( NN extinction ) ) ( PP ( IN of ) ( NP ( DT the ) ( NN elephant ) ) ) ) ) ) ) ) ) )

A Zimbabwean delegate argued that the ban would guarantee the extinction of the elephant


( S ( NP-SBJ ( NP ( JJ Legitimate ) ( NNS ranchers ) ) ( SBAR ( WHNP-1 ( WP who ) ) ( S ( VP ( VBP have ) ( NP ( NP ( DT an ) ( NN interest ) ) ( PP-LOC ( IN in ) ( S-NOM ( VP ( VBG preserving ) ( NP ( DT the ) ( NNS herds ) ) ) ) ) ) ) ) ) ) ( VP ( MD would ) ( VP ( VB go ) ( ADVP-CLR ( IN out ) ( PP ( IN of ) ( NP ( NN business ) ) ) ) ) ) )

Legitimate ranchers who have an interest in preserving the herds would go out of business


( S ( NP-SBJ ( NNS Poachers ) ) ( VP ( MD would ) ( VP ( VB control ) ( NP ( DT the ) ( JJ underground ) ( NN trade ) ) ) ) )

Poachers would control the underground trade


( S ( S ( NP-SBJ ( JJ Many ) ( NNS delegates ) ) ( VP ( VBD were ) ( ADJP-PRD ( JJ willing ) ( S ( VP ( TO to ) ( VP ( VB craft ) ( NP ( DT a ) ( NN compromise ) ) ) ) ) ) ) ) ( CC but ) ( S ( NP-SBJ ( NP ( NNP U.S. ) ( NN delegate ) ( NNP Constance ) ( NNP Harriman ) ) ( CC and ) ( NP ( NNS others ) ) ) ( VP ( VBD thundered ) ( NP ( DT that ) ) ( ADVP ( RP down ) ) ) ) )

Many delegates were willing to craft a compromise but U.S. delegate Constance Harriman and others thundered that down


( S ( NP-SBJ ( NP ( DT The ) ( NNP Greens ) ) ( PP ( IN from ) ( NP ( DT the ) ( NNP First ) ( NNP World ) ) ) ) ( VP ( VBD wanted ) ( NP ( NP ( DT a ) ( NN morality ) ( NN play ) ) ( RB not ) ( NP ( DT a ) ( NN negotiation ) ) ) ) )

The Greens from the First World wanted a morality play not a negotiation


( S ( ADVP ( RB Fortunately ) ) ( NP-SBJ ( NP ( DT the ) ( NNS nations ) ) ( PP ( IN of ) ( NP ( JJ southern ) ( NNP Africa ) ) ) ) ( VP ( VBP have ) ( RB n't ) ( VP ( ADVP ( RB totally ) ) ( VBN surrendered ) ( NP ( PRP$ their ) ( NN sovereignty ) ) ) ) )

Fortunately the nations of southern Africa have n't totally surrendered their sovereignty


( S ( NP-SBJ ( CD Five ) ( NNS countries ) ) ( VP ( VBD announced ) ( SBAR ( S ( NP-SBJ ( PRP they ) ) ( VP ( MD would ) ( RB not ) ( VP ( VB honor ) ( SBAR ( WHNP-1 ( WP what ) ) ( S ( NP-SBJ ( CD one ) ( JJ Zimbabwean ) ( NN delegate ) ) ( ADVP-MNR ( RB wryly ) ) ( VP ( VBD called ) ( S ( NP-PRD ( DT the ) ( VP-TTL ( VBN made ) ( PP-LOC-CLR ( IN in ) ( NP ( NNP Switzerland ) ) ) ) ( NN solution ) ) ) ) ) ) ) ) ) ) ) )

Five countries announced they would not honor what one Zimbabwean delegate wryly called the made in Switzerland solution


( S ( PP ( IN In ) ( NP ( NN fact ) ) ) ( NP-SBJ ( PRP they ) ) ( VP ( VBD seemed ) ( ADJP-PRD ( NP ( DT a ) ( NN mite ) ) ( JJ resentful ) ) ) )

In fact they seemed a mite resentful


( S ( NP-SBJ ( NP ( DT The ) ( NN director ) ) ( PP ( IN of ) ( NP ( NP ( NNP Zimbabwe ) ( POS 's ) ) ( NNP Wildlife ) ( NNP Department ) ) ) ) ( VP ( VBD described ) ( NP ( JJ American ) ( NNS conservationists ) ) ( PP-CLR ( IN as ) ( NP ( NP ( JJ fat ) ( JJ little ) ( NNS puppies ) ) ( PP ( IN from ) ( NP ( JJ urban ) ( NNS environments ) ) ) ( SBAR ( WHNP-1 ( WP who ) ) ( S ( VP ( VBP do ) ( RB n't ) ( VP ( VB know ) ( NP ( NP ( DT a ) ( NN thing ) ) ( PP ( IN about ) ( NP ( NNP Africa ) ) ) ) ) ) ) ) ) ) ) )

The director of Zimbabwe 's Wildlife Department described American conservationists as fat little puppies from urban environments who do n't know a thing about Africa


( S ( S ( NP-SBJ ( DT That ) ) ( VP ( VBZ 's ) ( RB not ) ( ADJP-PRD ( JJ fair ) ) ) ) ( S ( NP-SBJ ( PRP they ) ) ( VP ( VBP 're ) ( RB not ) ( ADVP ( RB all ) ) ( ADJP-PRD ( JJ fat ) ) ) ) )

That 's not fair they 're not all fat


( S ( NP-SBJ ( NP ( PRP It ) ) ) ( VP ( VBZ is ) ( ADVP-TMP ( RB now ) ) ( NP-PRD ( DT a ) ( NN commonplace ) ) ( SBAR-1 ( IN that ) ( S ( NP-SBJ ( NNS prosecutors ) ) ( VP ( VBP are ) ( VP ( VBG bringing ) ( NP ( JJ criminal ) ( NNS indictments ) ) ( PP-LOC ( IN in ) ( NP ( NP ( NNS cases ) ) ( SBAR-LOC ( WHADVP-3 ( WRB where ) ) ( S ( PP-TMP ( IN until ) ( NP ( DT a ) ( JJ few ) ( NNS years ) ( IN ago ) ) ) ( NP-SBJ-2 ( RB only ) ( DT a ) ( JJ civil ) ( NN action ) ) ( ADVP ( IN at ) ( RBS most ) ) ( VP ( MD would ) ( VP ( VB have ) ( VP ( VBN been ) ( VP ( VBN brought ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

It is now a commonplace that prosecutors are bringing criminal indictments in cases where until a few years ago only a civil action at most would have been brought


( S ( CC Yet ) ( NP-SBJ ( NP ( PRP it ) ) ) ( VP ( VBZ is ) ( ADVP ( RB also ) ) ( ADJP-PRD ( JJ axiomatic ) ) ( SBAR-2 ( IN that ) ( S ( NP-SBJ ( DT the ) ( NN power ) ( S ( VP ( TO to ) ( VP ( VB create ) ( NP ( JJ new ) ( NNS crimes ) ) ) ) ) ) ( VP ( VBZ belongs ) ( PP-CLR ( ADVP ( RB only ) ) ( PP ( TO to ) ( NP ( DT the ) ( NN legislature ) ) ) ( CC and ) ( RB not ) ( PP ( TO to ) ( NP ( NNS courts ) ) ) ) ) ) ) ) )

Yet it is also axiomatic that the power to create new crimes belongs only to the legislature and not to courts


( S ( PP ( VBG Beginning ) ( PP ( IN in ) ( NP ( DT the ) ( JJ early ) ( JJ 19th ) ( NN century ) ) ) ( PP ( IN with ) ( NP ( NP ( NNP U.S. ) ) ( PP ( CC v. ) ( NP ( NNP Hudson ) ( CC and ) ( NNP Goodwin ) ) ) ) ) ) ( NP-SBJ ( DT the ) ( NNP Supreme ) ( NNP Court ) ) ( VP ( VBZ has ) ( ADVP ( RB repeatedly ) ) ( VP ( VBN held ) ( SBAR ( IN that ) ( S ( NP-SBJ-1 ( DT a ) ( JJ judicial ) ( NN power ) ( S ( VP ( TO to ) ( VP ( VB declare ) ( NP ( NN conduct ) ) ( S ( VP ( TO to ) ( VP ( VB be ) ( UCP-PRD ( PP ( IN against ) ( NP ( DT the ) ( JJ public ) ( NN interest ) ) ) ( CC and ) ( ADVP ( RB hence ) ) ( ADJP ( JJ criminal ) ) ) ) ) ) ) ) ) ) ( SBAR-ADV ( IN while ) ( S ( ADJP-PRD ( RB well ) ( VBN established ) ) ( PP-LOC ( IN in ) ( NP ( JJ British ) ( NN law ) ) ) ) ) ( VP ( MD would ) ( VP ( VB usurp ) ( NP ( NP ( JJ legislative ) ( NN authority ) ) ( PP-LOC ( IN under ) ( NP ( NP ( DT the ) ( NN doctrine ) ) ( PP ( IN of ) ( NP ( NP ( NN separation ) ) ( PP ( IN of ) ( NP ( NNS powers ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Beginning in the early 19th century with U.S. v. Hudson and Goodwin the Supreme Court has repeatedly held that a judicial power to declare conduct to be against the public interest and hence criminal while well established in British law would usurp legislative authority under the doctrine of separation of powers


( S ( NP-SBJ ( DT That ) ) ( VP ( VBZ 's ) ( NP-PRD ( DT the ) ( JJ conventional ) ( NN theory ) ) ( ADVP ( RB anyway ) ) ) )

That 's the conventional theory anyway


( S ( PP-LOC ( IN In ) ( NP ( NN practice ) ) ) ( ADVP ( RB however ) ) ( NP-SBJ-1 ( NP ( DT the ) ( NN line ) ) ( PP-LOC ( IN between ) ( NP ( NP ( NN interpretation ) ( CC and ) ( NN redefinition ) ) ( PP ( IN of ) ( NP ( DT the ) ( JJ criminal ) ( NN law ) ) ) ) ) ) ( ADVP-TMP ( RB long ) ( RB ago ) ) ( VP ( VBD began ) ( S ( VP ( TO to ) ( VP ( VB blur ) ) ) ) ) )

In practice however the line between interpretation and redefinition of the criminal law long ago began to blur


( S ( PP ( IN In ) ( NP ( JJ particular ) ) ) ( NP-SBJ ( NP ( DT a ) ( JJ common ) ( NN law ) ) ( PP ( IN of ) ( NP ( JJ white-collar ) ( NN crime ) ) ) ) ( VP ( VBZ has ) ( VP ( VBN developed ) ( PP-MNR ( IN with ) ( NP ( JJ surprising ) ( NN rapidity ) ) ) ( PP-TMP ( IN over ) ( NP ( DT the ) ( JJ past ) ( NN decade ) ) ) ) ) )

In particular a common law of white-collar crime has developed with surprising rapidity over the past decade


( S ( PP ( IN For ) ( NP ( NN example ) ) ) ( SBAR-ADV ( IN although ) ( S ( NP-SBJ ( NN insider ) ( NN trading ) ) ( VP ( VBZ has ) ( ADVP-TMP ( RB long ) ) ( VP ( VBN been ) ( ADJP-PRD ( JJ criminal ) ) ) ) ) ) ( NP-SBJ-1 ( PRP it ) ) ( VP ( VBZ has ) ( ADVP-TMP ( RB never ) ) ( VP ( VBN been ) ( VP ( ADVP-MNR ( RB statutorily ) ) ( VBN defined ) ) ) ) )

For example although insider trading has long been criminal it has never been statutorily defined


( S ( PP-TMP ( IN In ) ( NP ( CD 1983 ) ) ) ( NP-SBJ-1 ( DT the ) ( NNP Supreme ) ( NNP Court ) ) ( VP ( VBD tried ) ( S ( VP ( TO to ) ( VP ( VB supply ) ( NP ( DT a ) ( JJ workable ) ( NN definition ) ) ( PP-LOC ( IN in ) ( NP ( NP ( DT the ) ( NAC ( NAC ( NNS Dirks ) ) ( PP ( CC v. ) ( NP ( NNP SEC ) ) ) ) ( NN decision ) ) ( SBAR ( WHNP-4 ( WDT which ) ) ( S ( VP ( VBD found ) ( SBAR ( DT that ) ( S ( NP-SBJ ( NN liability ) ) ( VP ( VBD depended ) ( PP-CLR ( IN on ) ( SBAR ( SBAR ( IN whether ) ( S ( NP-SBJ ( DT the ) ( NN tipper ) ) ( VP ( VBD had ) ( VP ( VBN breached ) ( NP ( NP ( PRP$ his ) ( JJ fiduciary ) ( NN duty ) ) ( PP ( TO to ) ( NP ( DT the ) ( NN corporation ) ) ) ) ( SBAR-PRP ( IN in ) ( NN order ) ( S ( VP ( TO to ) ( VP ( VB obtain ) ( NP ( DT some ) ( JJ personal ) ( NN gain ) ) ) ) ) ) ) ) ) ) ( CC and ) ( SBAR ( IN whether ) ( S ( NP-SBJ ( DT the ) ( NN tippee ) ) ( VP ( VP ( VBD knew ) ) ( CC or ) ( VP ( ADVP-MNR ( RB recklessly ) ) ( VBD disregarded ) ) ( NP-3 ( DT this ) ( NN fact ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

In 1983 the Supreme Court tried to supply a workable definition in the Dirks v. SEC decision which found that liability depended on whether the tipper had breached his fiduciary duty to the corporation in order to obtain some personal gain and whether the tippee knew or recklessly disregarded this fact


( S ( ADVP-MNR ( RB Gradually ) ) ( ADVP ( RB however ) ) ( NP-SBJ ( NP ( JJR lower ) ( NNS courts ) ) ( CC and ) ( NP ( NNS prosecutors ) ) ) ( VP ( VBP have ) ( VP ( VBN pushed ) ( NP ( DT this ) ( NN definition ) ) ( PP-DIR ( TO to ) ( NP ( PRP$ its ) ( NN breaking ) ( NN point ) ) ) ) ) )

Gradually however lower courts and prosecutors have pushed this definition to its breaking point


( S ( VP ( VB Consider ) ( NP ( NP ( DT the ) ( NNS facts ) ) ( VP ( VBG underlying ) ( NP ( NP ( DT the ) ( CD 1989 ) ( NN conviction ) ) ( PP ( IN of ) ( NP ( NNP Robert ) ( NNP Chestman ) ) ) ) ) ) ) )

Consider the facts underlying the 1989 conviction of Robert Chestman


( S ( PP-TMP ( RB Prior ) ( PP ( TO to ) ( NP ( NP ( DT a ) ( NN tender ) ( NN offer ) ) ( PP ( IN by ) ( NP ( NNP A&P ) ) ) ( PP ( IN for ) ( NP ( NNP Waldbaum ) ( NNP Inc. ) ) ) ( PP-TMP ( IN in ) ( NP ( CD 1986 ) ) ) ) ) ) ( NP-SBJ ( NP ( DT the ) ( NN founder ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( NNP Waldbaum ) ( POS 's ) ) ( NN supermarket ) ( NN chain ) ) ) ) ( VP ( VBD called ) ( NP ( DT an ) ( JJ elderly ) ( NN relative ) ) ( S-PRP ( VP ( TO to ) ( VP ( VB tell ) ( NP-1 ( PRP her ) ) ( S ( VP ( TO to ) ( VP ( VB assemble ) ( NP ( PRP$ her ) ( NN stock ) ( NNS certificates ) ) ( PP-CLR ( IN for ) ( NP ( NN delivery ) ) ) ) ) ) ) ) ) ) )

Prior to a tender offer by A&P for Waldbaum Inc. in 1986 the founder of the Waldbaum 's supermarket chain called an elderly relative to tell her to assemble her stock certificates for delivery


( S ( NP-SBJ ( PRP She ) ) ( VP ( VBD called ) ( NP ( NP ( PRP$ her ) ( NN daughter ) ) ) ( S-PRP ( VP ( TO to ) ( VP ( VB take ) ( NP ( PRP her ) ) ( PP-CLR ( TO to ) ( NP ( DT the ) ( NN bank ) ) ) ) ) ) ( SBAR-1 ( WHNP-2 ( WP who ) ) ( S ( PP ( IN in ) ( NP ( NN turn ) ) ) ( VP ( VBD persuaded ) ( NP-3 ( NP ( PRP her ) ( NN husband ) ) ( NP ( DT a ) ( NNP Mr. ) ( NNP Loeb ) ) ) ( S ( VP ( TO to ) ( VP ( VB run ) ( NP ( DT this ) ( NN errand ) ) ) ) ) ) ) ) ) )

She called her daughter to take her to the bank who in turn persuaded her husband a Mr. Loeb to run this errand


( S ( S ( S-ADV ( VP ( VBG Hearing ) ( PP-CLR ( IN of ) ( NP ( DT this ) ( NN information ) ) ) ) ) ( NP-SBJ-1 ( DT the ) ( NN husband ) ) ( VP ( VBD discussed ) ( NP ( PRP it ) ) ( PP ( IN with ) ( NP ( NP ( PRP$ his ) ( NN broker ) ) ( NP ( NNP Mr. ) ( NNP Chestman ) ) ) ) ) ) ( CC and ) ( S ( NP-SBJ ( NNP Mr. ) ( NNP Chestman ) ) ( ADVP-TMP ( RB then ) ) ( VP ( VBD bought ) ( PP ( IN for ) ( NP ( NP ( PRP$ his ) ( JJ own ) ( NN account ) ) ( CC and ) ( NP ( JJ other ) ( NNS clients ) ) ) ) ) ) )

Hearing of this information the husband discussed it with his broker Mr. Chestman and Mr. Chestman then bought for his own account and other clients


( S ( ADVP ( RB Basically ) ) ( NP-SBJ ( NNP Mr. ) ( NNP Chestman ) ) ( VP ( VBD was ) ( NP-PRD ( DT a ) ( JJ fourth-level ) ( NN tippee ) ) ) )

Basically Mr. Chestman was a fourth-level tippee


( SQ ( VBD Did ) ( NP-SBJ ( NP ( NNP Mr. ) ( NNP Loeb ) ) ( NP ( PRP$ his ) ( NN tipper ) ) ) ( VP ( VB breach ) ( NP ( DT a ) ( JJ fiduciary ) ( NN duty ) ) ( PRN ( CC and ) ( SQ ( SBAR ( IN if ) ( FRAG ( ADVP ( RB so ) ) ) ) ( WHPP ( TO to ) ( WHNP ( WP whom ) ) ) ) ) ) )

Did Mr. Loeb his tipper breach a fiduciary duty and if so to whom


( SQ ( VBD Did ) ( NP-SBJ ( NNP Mr. ) ( NNP Loeb ) ) ( VP ( VB seek ) ( NP ( JJ personal ) ( NN gain ) ) ( PRN ( CC and ) ( FRAG ( SBAR ( IN if ) ( SBAR ( RB so ) ) ) ( WHADVP ( WRB how ) ) ) ) ) )

Did Mr. Loeb seek personal gain and if so how


( SQ ( CC Or ) ( VBD did ) ( NP-SBJ ( NNP Mr. ) ( NNP Chestman ) ) ( VP ( ADVP ( RB only ) ) ( VB hear ) ( NP ( NP ( DT a ) ( NN market ) ( NN rumor ) ) ( PRN ( SBAR ( WHNP-1 ( WDT which ) ) ( S ( NP-SBJ ( NN one ) ) ( VP ( MD may ) ( VP ( ADVP-MNR ( RB lawfully ) ) ( VB trade ) ( PP-LOC-CLR ( IN upon ) ) ) ) ) ) ) ) ) )

Or did Mr. Chestman only hear a market rumor which one may lawfully trade upon


( S ( NP-SBJ ( DT The ) ( NN line ) ) ( VP ( VBZ seems ) ( ADJP-PRD ( RB awfully ) ( JJ thin ) ) ( PP ( IN for ) ( NP ( NN criminal-law ) ( NNS purposes ) ) ) ) )

The line seems awfully thin for criminal-law purposes


( S ( NP-SBJ-1 ( DT A ) ( JJ second ) ( NN illustration ) ) ( VP ( VBZ is ) ( VP ( VBN supplied ) ( PP ( IN by ) ( NP-LGS ( NP ( DT the ) ( JJ recent ) ( JJ guilty ) ( NN plea ) ) ( VP ( VBN entered ) ( PP ( IN by ) ( NP-LGS ( NP ( NNP Robert ) ( NNP Freeman ) ) ( ADVP-TMP ( RB formerly ) ) ( NP ( NP ( NN head ) ) ( PP ( IN of ) ( NP ( NN arbitrage ) ) ) ( PP-LOC ( IN at ) ( NP ( NNP Goldman ) ( NNP Sachs ) ( CC & ) ( NNP Co ) ) ) ) ) ) ) ) ) ) ) )

A second illustration is supplied by the recent guilty plea entered by Robert Freeman formerly head of arbitrage at Goldman Sachs & Co


( S ( ADVP ( RB Essentially ) ) ( NP-SBJ ( NNP Mr. ) ( NNP Freeman ) ) ( VP ( VBD had ) ( VP ( VBN invested ) ( ADVP-MNR ( RB heavily ) ) ( PP-LOC-CLR ( IN in ) ( NP ( DT the ) ( NNP Beatrice ) ( JJ leveraged ) ( NN buy-out ) ) ) ( SBAR-TMP ( WHADVP-2 ( WRB when ) ) ( S ( NP-SBJ-1 ( PRP he ) ) ( VP ( VBD was ) ( VP ( VBN told ) ( PP ( IN by ) ( NP-LGS ( NP ( DT another ) ( JJ prominent ) ( NN trader ) ) ( NP ( NNP Bernard ) ( NNP Bunny ) ( NNP Lasker ) ) ) ) ( SBAR ( IN that ) ( S ( NP-SBJ ( DT the ) ( NN deal ) ) ( VP ( VBD was ) ( PP-PRD ( IN in ) ( NP ( NN trouble ) ) ) ) ) ) ) ) ) ) ) ) )

Essentially Mr. Freeman had invested heavily in the Beatrice leveraged buy-out when he was told by another prominent trader Bernard Bunny Lasker that the deal was in trouble


( S ( PP-TMP ( IN After ) ( S-NOM ( VP ( VBG placing ) ( NP ( NNS orders ) ( S ( VP ( TO to ) ( VP ( VB sell ) ) ) ) ) ) ) ) ( NP-SBJ ( NNP Mr. ) ( NNP Freeman ) ) ( VP ( VBD called ) ( NP ( NP ( NNP Martin ) ( NNP Siegel ) ) ( NP ( NP ( DT an ) ( NN investment ) ( NN banker ) ) ( PP-LOC ( IN at ) ( NP ( NNP Kidder ) ( NNP Peabody ) ( CC & ) ( NNP Co. ) ) ) ) ( SBAR ( WHNP-1 ( WP who ) ) ( S ( VP ( VBD was ) ( VP ( VBG advising ) ( PP-CLR ( IN on ) ( NP ( DT the ) ( NN deal ) ) ) ) ) ) ) ) ( S-PRP ( VP ( TO to ) ( VP ( VB confirm ) ( NP ( DT these ) ( NNS rumors ) ) ) ) ) ) )

After placing orders to sell Mr. Freeman called Martin Siegel an investment banker at Kidder Peabody & Co. who was advising on the deal to confirm these rumors


( S ( NP-SBJ-2 ( NNP Mr. ) ( NNP Siegel ) ) ( VP ( VP ( VBD asked ) ( NP ( NNP Mr. ) ( NNP Freeman ) ) ( SBAR ( WHNP-1 ( WP who ) ) ( S ( NP-SBJ ( PRP$ his ) ( NN source ) ) ( VP ( VBD was ) ) ) ) ) ( CC and ) ( VP ( PP-TMP ( IN on ) ( S-NOM ( VP ( NN hearing ) ( SBAR ( IN that ) ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBD was ) ( NP-PRD ( NNP Bunny ) ( NNP Lasker ) ) ) ) ) ) ) ) ( VBD responded ) ( SBAR ( S ( INTJ ( UH Well ) ) ( NP-SBJ ( PRP$ your ) ( NN bunny ) ) ( VP ( VBZ has ) ( NP ( DT a ) ( JJ good ) ( NN nose ) ) ) ) ) ) ) )

Mr. Siegel asked Mr. Freeman who his source was and on hearing that it was Bunny Lasker responded Well your bunny has a good nose


( S ( NP-SBJ ( NP ( DT The ) ( JJ illegal ) ( NN tip ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( NN bunny ) ( POS 's ) ) ( JJ good ) ( NN nose ) ) ) ) ( VP ( VBD was ) ( ADVP-TMP ( RB then ) ) ( ADVP ( RB largely ) ) ( NP-PRD ( NP ( DT a ) ( NN confirmation ) ) ( PP ( IN of ) ( NP ( NP ( NNS rumors ) ) ( VP ( ADVP-TMP ( RB already ) ) ( VBN known ) ( PP-CLR ( TO to ) ( NP ( NP ( JJ many ) ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( NN market ) ) ) ) ) ) ) ) ) ) )

The illegal tip of the bunny 's good nose was then largely a confirmation of rumors already known to many in the market


( S ( SBAR-ADV ( SINV ( VBD Had ) ( NP-SBJ ( DT the ) ( NN case ) ) ( VP ( VBN gone ) ( PP-DIR ( TO to ) ( NP ( NN trial ) ) ) ) ) ) ( NP-SBJ ( DT the ) ( JJ same ) ( NNS issues ) ) ( VP ( MD would ) ( VP ( VB have ) ( VP ( VBN surfaced ) ) ) ) )

Had the case gone to trial the same issues would have surfaced


( SQ ( VBD Was ) ( NP-SBJ ( RB there ) ) ( NP-PRD ( DT a ) ( JJ fiduciary ) ( NN breach ) ) ( SBAR-PRP ( IN in ) ( NN order ) ( S ( VP ( TO to ) ( VP ( VB obtain ) ( NP ( JJ personal ) ( NN gain ) ) ) ) ) ) )

Was there a fiduciary breach in order to obtain personal gain


( SQ ( VBD Did ) ( NP-SBJ ( NNP Mr. ) ( NNP Freeman ) ) ( VP ( VB have ) ( NP ( NP ( VB notice ) ) ( PP ( IN of ) ( NP ( DT this ) ) ) ) ) )

Did Mr. Freeman have notice of this


( SQ ( ADVP-TMP ( RB Finally ) ) ( VBD was ) ( NP-SBJ ( DT the ) ( NN information ) ) ( ADJP-PRD ( NN material ) ) )

Finally was the information material


( S ( ADVP ( RB Yet ) ) ( NP-SBJ ( PDT all ) ( DT these ) ( NNS issues ) ) ( VP ( VBP are ) ( ADJP-PRD ( JJ subsidiary ) ( PP ( TO to ) ( NP ( NP ( DT a ) ( ADJP ( JJR more ) ( JJ central ) ) ( NN issue ) ) ( SBARQ ( SBARQ ( WHNP-5 ( WP Who ) ) ( SQ ( VP ( VBZ is ) ) ) ) ( CC and ) ( SBARQ ( WHNP-6 ( WP who ) ) ( SQ ( VP ( MD should ) ( VP ( VB be ) ) ) ) ) ( VP-4 ( VBG making ) ( NP ( DT the ) ( JJ criminal ) ( NN law ) ) ( ADVP-LOC ( RB here ) ) ) ) ) ) ) ) )

Yet all these issues are subsidiary to a more central issue Who is and who should be making the criminal law here


( S ( NP-SBJ ( NP ( PRP It ) ) ) ( VP ( VBZ is ) ( RB not ) ( NP-PRD ( PRP$ my ) ( NN contention ) ) ( SBAR-5 ( IN that ) ( S ( NP-SBJ ( DT either ) ( NP ( NP ( NNP Mr. ) ( NNP Chestman ) ) ( CC or ) ( NP ( NNP Mr. ) ( NNP Freeman ) ) ) ) ( VP ( VBD was ) ( NP-PRD ( NP ( DT an ) ( JJ innocent ) ( NN victim ) ) ( PP ( IN of ) ( NP ( JJ prosecutorial ) ( NN overzealousness ) ) ) ) ) ) ) ) )

It is not my contention that either Mr. Chestman or Mr. Freeman was an innocent victim of prosecutorial overzealousness


( S ( ADVP ( RB Arguably ) ) ( NP-SBJ ( DT both ) ) ( VP ( VBD were ) ( PP-PRD ( IN on ) ( NP ( NN notice ) ( SBAR ( IN that ) ( S ( NP-SBJ ( PRP$ their ) ( NN behavior ) ) ( VP ( VBD was ) ( ADJP-PRD ( ADVP ( IN at ) ( JJS least ) ) ( JJ risky ) ) ) ) ) ) ) ) )

Arguably both were on notice that their behavior was at least risky


( S ( CC But ) ( SBAR ( RB even ) ( IN if ) ( S ( NP-SBJ ( PRP they ) ) ( VP ( VBD behaved ) ( ADVP-MNR-CLR ( RB recklessly ) ) ) ) ) ( NP-SBJ ( NNS reasons ) ) ( ADVP-TMP ( RB still ) ) ( VP ( VBP exist ) ( S-6 ( VP ( TO to ) ( VP ( VB fear ) ( CC and ) ( VB resist ) ( NP ( NP ( DT this ) ( JJ steady ) ( NN process ) ) ( PP ( IN of ) ( NP ( NP ( JJ case-by-case ) ( JJ judicial ) ( NN extension ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( NN law ) ) ( PP ( IN of ) ( NP ( NN insider ) ( NN trading ) ) ) ) ) ) ) ) ) ) ) ) )

But even if they behaved recklessly reasons still exist to fear and resist this steady process of case-by-case judicial extension of the law of insider trading


( S ( NP-SBJ ( NNS Courts ) ( CC and ) ( NNS legislatures ) ) ( VP ( VP ( VBP make ) ( NP ( NNS decisions ) ) ( PP-MNR ( IN in ) ( NP ( ADJP ( JJ very ) ( JJ different ) ) ( NNS ways ) ) ) ) ( CC and ) ( VP ( VBP are ) ( DT each ) ( ADJP-PRD ( JJ susceptible ) ( PP ( TO to ) ( NP ( NP ( ADJP ( RB very ) ( JJ different ) ) ( NNS kinds ) ) ( PP ( IN of ) ( NP ( NNS errors ) ) ) ) ) ) ) ) )

Courts and legislatures make decisions in very different ways and are each susceptible to very different kinds of errors


( S ( NP-SBJ ( NP ( JJ After-the-fact ) ( JJ judicial ) ( NN examination ) ) ( PP ( IN of ) ( NP ( NP ( DT an ) ( NN actor ) ( POS 's ) ) ( NN conduct ) ) ) ) ( VP ( VBZ has ) ( ADVP-TMP ( RB always ) ) ( VP ( VBN been ) ( NP-PRD ( NP ( DT the ) ( JJ common ) ( NN law ) ( POS 's ) ) ( NN method ) ) ) ) )

After-the-fact judicial examination of an actor 's conduct has always been the common law 's method


( S ( SBAR-TMP ( WHADVP-2 ( WRB When ) ) ( S ( NP-SBJ-1 ( RB only ) ( JJ civil ) ( NN liability ) ) ( VP ( VBZ is ) ( VP ( VBN involved ) ) ) ) ) ( NP-SBJ ( DT this ) ( NN method ) ) ( VP ( VBZ has ) ( NP ( NP ( DT the ) ( JJ undeniable ) ( NNS strengths ) ) ( PP ( IN of ) ( NP ( NP ( JJ factual ) ( NN specificity ) ) ( CC and ) ( NP ( NP ( NN avoidance ) ) ( PP ( IN of ) ( NP ( NN overgeneralization ) ) ) ) ) ) ) ) )

When only civil liability is involved this method has the undeniable strengths of factual specificity and avoidance of overgeneralization


( S ( ADVP ( RB Still ) ) ( NP-SBJ ( NP ( JJ case-by-case ) ( NN retrospective ) ( NN decision ) ( NN making ) ) ( PP ( IN of ) ( NP ( DT this ) ( NN sort ) ) ) ) ( VP ( VBZ is ) ( ADJP-PRD ( JJ vulnerable ) ( PP ( TO to ) ( NP ( NP ( DT the ) ( NN tunnel ) ( NN vision ) ) ( VP ( VBN caused ) ( PP ( IN by ) ( NP-LGS ( NP ( DT a ) ( NN fixation ) ) ( PP-LOC ( IN on ) ( NP ( ADJP ( FW ad ) ( FW hoc ) ) ( PRN ( CC and ) ( ADJP ( RB usually ) ( JJ sleazy ) ) ) ( NNS examples ) ) ) ) ) ) ) ) ) ) )

Still case-by-case retrospective decision making of this sort is vulnerable to the tunnel vision caused by a fixation on ad hoc and usually sleazy examples


( S ( SBAR-TMP-3 ( WHADVP ( WRB When ) ) ( S ( NP-SBJ ( DT a ) ( NN court ) ) ( VP ( VP ( VBZ decides ) ( SBAR ( IN that ) ( S ( NP-SBJ ( NP ( DT a ) ( JJ particular ) ( NN actor ) ( POS 's ) ) ( NN conduct ) ) ( VP ( VBD was ) ( ADJP-PRD ( JJ culpable ) ) ) ) ) ) ( CC and ) ( ADVP ( RB so ) ) ( VP ( VBZ extends ) ( NP ( NP ( DT the ) ( NN definition ) ) ( PP ( IN of ) ( NP ( NN insider ) ( NN trading ) ) ) ) ( S-CLR ( VP ( TO to ) ( VP ( VB reach ) ( NP ( DT this ) ( NN conduct ) ) ) ) ) ) ) ) ) ( NP-SBJ ( PRP it ) ) ( VP ( VBZ does ) ( RB not ) ( VP ( VB see ) ( NP ( NP ( DT the ) ( ADJP ( RB potentially ) ( JJ enormous ) ) ( NN number ) ) ( PP ( IN of ) ( NP ( NP ( JJ other ) ( NNS cases ) ) ( SBAR ( WHNP-2 ( WDT that ) ) ( S ( VP ( MD will ) ( VP ( VB be ) ( VP ( VBN covered ) ( PP ( IN by ) ( NP-LGS ( DT the ) ( VBN expanded ) ( NN rule ) ) ) ) ) ) ) ) ) ) ) ) ) )

When a court decides that a particular actor 's conduct was culpable and so extends the definition of insider trading to reach this conduct it does not see the potentially enormous number of other cases that will be covered by the expanded rule


( S ( ADVP ( RB Thus ) ) ( NP-SBJ ( DT a ) ( NN court ) ) ( VP ( VBZ is ) ( ADJP-PRD ( RB poorly ) ( VBN positioned ) ( S ( VP ( TO to ) ( VP ( VB make ) ( NP ( NP ( NNS judgments ) ) ( PP ( IN about ) ( NP ( NP ( DT the ) ( JJ social ) ( NN utility ) ) ( PP ( IN of ) ( NP ( DT the ) ( VBN expanded ) ( NN rule ) ) ) ) ) ) ) ) ) ) ) )

Thus a court is poorly positioned to make judgments about the social utility of the expanded rule


( S ( PP ( IN For ) ( NP ( NN example ) ) ) ( PP ( IN in ) ( S-NOM ( VP ( VBG focusing ) ( PP-LOC-CLR ( IN on ) ( NP ( NP ( NNP Mr. ) ( NNP Freeman ) ( POS 's ) ) ( NN attempt ) ( S ( VP ( TO to ) ( VP ( VB gain ) ( NP ( NP ( JJ nonpublic ) ( NN information ) ) ( PP ( IN about ) ( NP ( NP ( DT a ) ( NN deal ) ( POS 's ) ) ( NN collapse ) ) ) ) ) ) ) ) ) ) ) ) ( NP-SBJ ( NN one ) ) ( VP ( VBZ does ) ( RB not ) ( VP ( ADVP ( RB naturally ) ) ( VB think ) ( PP ( IN about ) ( NP ( NP ( NP ( DT the ) ( JJ reverse ) ( NN side ) ) ( PP ( IN of ) ( NP ( DT the ) ( NN coin ) ) ) ) ( SBAR ( WHNP ( WP What ) ) ( IN if ) ( S ( NP-SBJ ( DT the ) ( NN rumor ) ) ( VP ( VBD had ) ( VP ( VBN been ) ( ADJP-PRD ( JJ false ) ) ) ) ) ) ) ) ) ) )

For example in focusing on Mr. Freeman 's attempt to gain nonpublic information about a deal 's collapse one does not naturally think about the reverse side of the coin What if the rumor had been false


( SQ ( MD Can ) ( NP-SBJ ( DT a ) ( NN security ) ( NN analyst ) ) ( VP ( VB call ) ( NP ( DT an ) ( NN investment ) ( NN banker ) ) ( S-CLR ( VP ( TO to ) ( VP ( VB make ) ( S ( ADJP-PRD ( JJ certain ) ) ( SBAR-NOM-SBJ ( IN that ) ( S ( NP-SBJ ( DT a ) ( ADJP ( RB seemingly ) ( JJ improbable ) ) ( NN rumor ) ) ( VP ( VBZ is ) ( ADVP ( IN in ) ( NN fact ) ) ( ADJP-PRD ( JJ false ) ) ) ) ) ) ) ) ) ) )

Can a security analyst call an investment banker to make certain that a seemingly improbable rumor is in fact false


( S ( PP-TMP ( IN In ) ( NP ( DT the ) ( NN past ) ) ) ( RB not ) ( ADVP ( RB only ) ) ( SINV ( MD would ) ( NP-SBJ-2 ( JJ reputable ) ( NNS professionals ) ) ( VP ( VBP have ) ( VP ( VBN rushed ) ( S ( VP ( TO to ) ( VP ( VB check ) ( PRT ( RP out ) ) ( NP ( JJ such ) ( NNS rumors ) ) ( PP ( IN with ) ( NP ( DT the ) ( NN company ) ) ) ) ) ) ) ) ) ( CC but ) ( S ( NP-SBJ-1 ( NP ( NNS companies ) ) ( VP ( VBN listed ) ( PP-LOC-CLR ( IN on ) ( NP ( DT the ) ( JJ major ) ( NN stock ) ( NNS exchanges ) ) ) ) ) ( VP ( VBD were ) ( VP ( VBN encouraged ) ( PP ( IN by ) ( NP-LGS ( DT the ) ( NNS exchanges ) ) ) ( S ( VP ( TO to ) ( VP ( VB respond ) ( ADVP-MNR ( RB openly ) ) ( PP-CLR ( TO to ) ( NP ( NP ( JJ such ) ( NNS inquiries ) ) ( PP ( IN from ) ( NP ( NNS securities ) ( NNS analysts ) ) ) ) ) ) ) ) ) ) ) )

In the past not only would reputable professionals have rushed to check out such rumors with the company but companies listed on the major stock exchanges were encouraged by the exchanges to respond openly to such inquiries from securities analysts


( S ( NP-TMP ( NN Today ) ) ( PP-TMP ( IN after ) ( NP ( NP ( NNP Mr. ) ( NNP Freeman ) ( POS 's ) ) ( NN plea ) ) ) ( NP-SBJ ( EX there ) ) ( VP ( VBZ is ) ( NP-PRD ( NP ( DT an ) ( NN uncertainty ) ) ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( VP ( VBZ is ) ( ADJP-PRD ( DT both ) ( JJ unfair ) ( CC and ) ( JJ inefficient ) ) ) ) ) ) ) )

Today after Mr. Freeman 's plea there is an uncertainty that is both unfair and inefficient


( S ( PP-LOC ( IN In ) ( NP ( DT this ) ( NN light ) ) ) ( NP-SBJ ( NP ( DT the ) ( JJ comparative ) ( NNS advantages ) ) ( PP ( IN of ) ( NP ( JJ legislative ) ( NNS law-making ) ) ) ) ( VP ( VBP become ) ( ADJP-PRD ( JJ clear ) ) ( S ( S ( LST ( LS 1 ) ) ( SBAR-TMP ( IN Before ) ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBZ acts ) ) ) ) ( NP-SBJ ( DT the ) ( NN legislature ) ) ( VP ( ADVP ( RB typically ) ) ( MD will ) ( VP ( VB hear ) ( NP ( NP ( DT the ) ( NNS views ) ) ( PP ( IN of ) ( NP ( NP ( NNS representatives ) ) ( PP ( IN of ) ( NP ( NP ( NP ( PDT all ) ( DT those ) ) ( VP ( VBN affected ) ( PP ( IN by ) ( NP-LGS ( PRP$ its ) ( NN decision ) ) ) ) ) ( RB not ) ( NP ( NP ( RB just ) ( DT the ) ( JJ immediate ) ( NNS parties ) ) ( PP-LOC ( IN before ) ( NP ( DT the ) ( NN court ) ) ) ) ) ) ) ) ) ) ) ) ( CC and ) ( S ( LST ( LS 2 ) ) ( NP-SBJ ( DT the ) ( NN legislature ) ) ( VP ( MD can ) ( VP ( VB frame ) ( NP ( NP ( JJ bright ) ( NN line ) ( NNS standards ) ) ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( VP ( VBP create ) ( NP ( NP ( JJR less ) ( NN uncertainty ) ) ( PP ( IN than ) ( NP ( NP ( DT the ) ( JJ fact-bound ) ( NNS decisions ) ) ( PP ( IN of ) ( NP ( NNS courts ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

In this light the comparative advantages of legislative law-making become clear 1 Before it acts the legislature typically will hear the views of representatives of all those affected by its decision not just the immediate parties before the court and 2 the legislature can frame bright line standards that create less uncertainty than the fact-bound decisions of courts


( S ( SBAR-ADV ( IN Although ) ( S ( NP-SBJ ( JJ legislative ) ( NNS lines ) ) ( VP ( MD can ) ( VP ( VB result ) ( PP-CLR ( IN in ) ( NP ( NN under-inclusion ) ) ) ( PRN ( SBAR ( WHNP-1 ( WDT which ) ) ( S ( VP ( VBZ explains ) ( SBAR ( WHADVP ( WRB why ) ) ( S ( NP-SBJ ( DT the ) ( NNP SEC ) ) ( VP ( VBZ has ) ( ADVP-TMP ( RB long ) ) ( VP ( VBN resisted ) ( NP ( NP ( DT a ) ( JJ legislative ) ( NN definition ) ) ( PP ( IN of ) ( NP ( NN insider ) ( NN trading ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ( NP-SBJ ( JJ judicial ) ( NN lawmaking ) ) ( ADVP ( RB inevitably ) ) ( VP ( VBZ creates ) ( NP ( NN uncertainty ) ) ( PP-PRP ( IN because ) ( IN of ) ( NP ( NP ( DT the ) ( JJ shadowy ) ( NX ( NX ( JJ outer ) ( NNS edges ) ) ( CC and ) ( NX ( NNS implications ) ) ) ) ( PP ( IN of ) ( NP ( JJS most ) ( JJ judicial ) ( NNS decisions ) ) ) ) ) ) )

Although legislative lines can result in under-inclusion which explains why the SEC has long resisted a legislative definition of insider trading judicial lawmaking inevitably creates uncertainty because of the shadowy outer edges and implications of most judicial decisions


( S ( PP ( IN At ) ( ADJP ( JJS least ) ) ) ( SBAR-TMP ( WHADVP-1 ( WRB when ) ) ( S ( NP-SBJ ( DT the ) ( NNS stakes ) ) ( VP ( VBP are ) ( ADJP-PRD ( JJ high ) ) ) ) ) ( NP-SBJ ( NP ( NN uncertainty ) ) ( PP ( IN in ) ( NP ( NN turn ) ) ) ) ( VP ( VBZ results ) ( PP-CLR ( IN in ) ( NP ( NN overinclusion ) ) ) ( SBAR-ADV ( IN as ) ( S ( NP-SBJ-2 ( NNS individuals ) ) ( VP ( VBP do ) ( RB not ) ( VP ( VB dare ) ( S ( VP ( TO to ) ( VP ( VB approach ) ( NP ( DT an ) ( JJ uncertain ) ( NN line ) ) ( ADVP-MNR ( RB closely ) ) ) ) ) ) ) ) ) ) )

At least when the stakes are high uncertainty in turn results in overinclusion as individuals do not dare to approach an uncertain line closely


( S ( NP-SBJ ( DT The ) ( JJ federal ) ( NN mail ) ( CC and ) ( NN wire ) ( NN fraud ) ( NNS statutes ) ) ( VP ( VBP provide ) ( NP ( NP ( ADJP ( RB even ) ( JJR better ) ) ( NNS illustrations ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( JJ rapid ) ( NN evolution ) ) ( PP ( IN of ) ( NP ( NP ( DT a ) ( JJ federal ) ( JJ common ) ( NN law ) ) ( PP ( IN of ) ( NP ( JJ white-collar ) ( NN crime ) ) ) ) ) ) ) ) ) )

The federal mail and wire fraud statutes provide even better illustrations of the rapid evolution of a federal common law of white-collar crime


( S ( PP-TMP ( IN In ) ( NP ( CD 1987 ) ) ) ( NP-SBJ-1 ( DT the ) ( NNP Supreme ) ( NNP Court ) ) ( VP ( VBD attempted ) ( PP-LOC ( IN in ) ( NP ( NP ( RB McNally ) ) ( PP ( CC v. ) ( NP ( NNP U.S. ) ) ) ) ) ( S ( VP ( TO to ) ( VP ( VB halt ) ( NP ( NP ( DT the ) ( JJ inexorable ) ( NN expansion ) ) ( PP ( IN of ) ( NP ( DT these ) ( NNS statutes ) ) ) ) ( PP-MNR ( IN by ) ( S-NOM ( VP ( VBG adopting ) ( NP ( NP ( DT a ) ( NN rule ) ) ( PP ( IN of ) ( NP ( JJ strict ) ( NN construction ) ) ) ( PP ( IN for ) ( NP ( JJ ambiguous ) ( JJ criminal ) ( NNS statues ) ) ) ) ) ) ) ) ) ) ) )

In 1987 the Supreme Court attempted in McNally v. U.S. to halt the inexorable expansion of these statutes by adopting a rule of strict construction for ambiguous criminal statues


( S ( ADVP ( RB Yet ) ) ( NP-TMP ( JJ late ) ( JJ last ) ( NN year ) ) ( NP-SBJ ( NNP Congress ) ) ( VP ( ADVP-MNR ( RB effectively ) ) ( VBD reversed ) ( NP ( DT this ) ( NN decision ) ) ( PP-MNR ( IN by ) ( S-NOM ( VP ( VBG enacting ) ( NP ( NP ( DT a ) ( JJ one-sentence ) ( NN statute ) ) ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( VP ( VBD defined ) ( NP ( NN fraud ) ) ( S ( VP ( TO to ) ( VP ( VB include ) ( NP ( DT any ) ( NN scheme ) ( S ( VP ( TO to ) ( VP ( VB deprive ) ( NP ( DT another ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( JJ intangible ) ( NN right ) ) ( PP ( IN of ) ( NP ( JJ honest ) ( NNS services ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Yet late last year Congress effectively reversed this decision by enacting a one-sentence statute that defined fraud to include any scheme to deprive another of the intangible right of honest services


( S ( PP ( IN At ) ( NP ( DT a ) ( NN stroke ) ) ) ( NP-SBJ ( DT this ) ) ( VP ( MD may ) ( VP ( VB criminalize ) ( NP ( NP ( DT all ) ( JJ fiduciary ) ( NNS breaches ) ) ( PRN ( CC and ) ( ADVP ( RB possibly ) ) ( NP ( NP ( DT all ) ( NNS misrepresentations ) ) ( PP ( IN by ) ( NP ( DT an ) ( NN agent ) ( CC or ) ( NN employee ) ) ) ) ) ) ) ) )

At a stroke this may criminalize all fiduciary breaches and possibly all misrepresentations by an agent or employee


( S ( NP-SBJ ( PDT Such ) ( DT a ) ( NN statute ) ) ( VP ( VBZ illustrates ) ( NP ( NP ( DT the ) ( JJ fundamental ) ( NN problem ) ) ( S ( NP-SBJ ( NNP Congress ) ) ( VP ( VBZ finds ) ( SBAR ( S ( NP-SBJ ( NP ( PRP it ) ) ) ( VP ( VBZ is ) ( ADJP-PRD ( ADJP ( JJR easier ) ) ) ( S-7 ( VP ( TO to ) ( VP ( VB pass ) ( NP ( NP ( ADJP ( RB sweepingly ) ( JJ moralistic ) ) ( NNS prohibitions ) ) ( SBAR ( WHNP-10 ( WDT which ) ) ( S ( NP-SBJ ( DT the ) ( NNS courts ) ) ( VP ( MD must ) ( ADVP-TMP ( RB thereafter ) ) ( VP ( VB interpret ) ) ) ) ) ) ) ) ) ( SBAR-1 ( IN than ) ( S ( VP ( TO to ) ( VP ( VB engage ) ( PP-LOC-CLR ( IN in ) ( NP ( NP ( DT the ) ( JJ difficult ) ( JJ line-drawing ) ( NNS distinctions ) ) ( SBAR ( WHNP-9 ( WDT that ) ) ( S ( VP ( VBP are ) ( ADVP-MNR ( RB inherently ) ) ( NP-PRD ( PRP$ its ) ( NN responsibility ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Such a statute illustrates the fundamental problem Congress finds it is easier to pass sweepingly moralistic prohibitions which the courts must thereafter interpret than to engage in the difficult line-drawing distinctions that are inherently its responsibility


( S ( NP-SBJ-1 ( PRP We ) ) ( VP ( VBP are ) ( VP ( VBN confronted ) ( ADVP ( ADVP ( RBR less ) ) ( PP ( IN with ) ( NP ( DT a ) ( JJ judicial ) ( NN power ) ( NN grab ) ) ) ( PP ( IN than ) ( PP ( IN with ) ( NP ( DT a ) ( JJ legislative ) ( NN giveaway ) ) ) ) ) ) ) )

We are confronted less with a judicial power grab than with a legislative giveaway


( S ( ADVP ( RB Predictably ) ) ( SBAR-TMP ( WHADVP-2 ( WRB when ) ) ( S ( VP ( VBN confronted ) ( PP-CLR ( IN with ) ( NP ( ADJP ( RB morally ) ( JJ dubious ) ) ( NN behavior ) ) ) ) ) ) ( NP-SBJ-3 ( NNS prosecutors ) ) ( VP ( MD will ) ( VP ( VB exploit ) ( NP ( NP ( DT the ) ( NN latitude ) ) ( SBAR ( S ( NP-SBJ ( JJ such ) ( VBN openended ) ( NNS statutes ) ) ( VP ( VBP give ) ( NP ( PRP them ) ) ) ) ) ) ) ) )

Predictably when confronted with morally dubious behavior prosecutors will exploit the latitude such openended statutes give them


( S ( PP-TMP ( IN Over ) ( NP ( DT the ) ( JJ long ) ( NN run ) ) ) ( ADVP ( RB however ) ) ( NP-SBJ ( JJ sleazy ) ( NNS cases ) ) ( VP ( MD will ) ( VP ( VB make ) ( NP ( JJ bad ) ( NN law ) ) ) ) )

Over the long run however sleazy cases will make bad law


( S ( NP-SBJ ( NNP Mr. ) ( NNP Coffee ) ) ( VP ( VBZ is ) ( NP-PRD ( NP ( DT a ) ( NN professor ) ) ( PP-LOC ( IN at ) ( NP ( NNP Columbia ) ( NNP Law ) ( NNP School ) ) ) ) ) )

Mr. Coffee is a professor at Columbia Law School


( S ( NP-SBJ-2 ( NNP Paul ) ( NNP Tanner ) ) ( VP ( VBD was ) ( VP ( VBN named ) ( S ( NP-PRD ( NP ( NP ( NN president ) ) ) ( NP ( NP ( NN chief ) ( NN executive ) ( NN officer ) ) ) ( CC and ) ( NP ( NP ( NN chairman ) ) ) ( PP-1 ( IN of ) ( NP ( DT this ) ( NN oil ) ( CC and ) ( JJ natural ) ( NN gas ) ( NN company ) ) ) ) ) ) ) )

Paul Tanner was named president chief executive officer and chairman of this oil and natural gas company


( S ( NP-SBJ ( PRP He ) ) ( VP ( VBZ succeeds ) ( NP ( NP ( NNP John ) ( NNP A. ) ( NNP Boudreau ) ) ( SBAR ( WHNP-1 ( WP who ) ) ( S ( VP ( VBD resigned ) ( PP-PRP ( IN for ) ( NP ( JJ personal ) ( NNS reasons ) ) ) ) ) ) ) ) )

He succeeds John A. Boudreau who resigned for personal reasons


( S ( NP-SBJ ( NNP Mr. ) ( NNP Tanner ) ) ( VP ( VBD had ) ( VP ( VBN been ) ( NP-PRD ( NP ( NN president ) ) ( PP ( IN of ) ( NP ( NP ( NNP Penn ) ( NNP Pacific ) ( POS 's ) ) ( NNP National ) ( NNP Southwest ) ( NNP Capital ) ( NNP Group ) ( NN subsidiary ) ) ) ) ) ) )

Mr. Tanner had been president of Penn Pacific 's National Southwest Capital Group subsidiary


( S ( NP-SBJ ( NNP Mr. ) ( NNP Boudreau ) ) ( VP ( MD will ) ( VP ( VB remain ) ( PP-CLR ( IN with ) ( NP ( NNP Penn ) ( NNP Pacific ) ) ) ( PP-CLR ( IN as ) ( NP ( NP ( DT a ) ( NN director ) ) ( CC and ) ( NP ( NP ( DT a ) ( NN member ) ) ( PP ( IN of ) ( NP ( DT the ) ( JJ executive ) ( NN committee ) ) ) ) ) ) ) ) )

Mr. Boudreau will remain with Penn Pacific as a director and a member of the executive committee


( S ( S-TPC-4 ( NP-SBJ-2 ( PRP He ) ) ( VP ( VBZ has ) ( ADVP ( RB also ) ) ( VP ( VBN agreed ) ( S ( VP ( TO to ) ( VP ( VB become ) ( NP-PRD ( NP ( NN president ) ) ( PP ( IN of ) ( NP ( NP ( DT a ) ( JJ new ) ( NN subsidiary ) ) ( SBAR ( S ( VP ( TO to ) ( VP ( VB be ) ( VP ( VBN formed ) ( S-PRP ( VP ( TO to ) ( VP ( VB make ) ( NP ( JJ future ) ( NNS acquisitions ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ( NP-SBJ ( DT the ) ( NN company ) ) ( VP ( VBD said ) ) )

He has also agreed to become president of a new subsidiary to be formed to make future acquisitions the company said


( S ( NP-SBJ-2 ( NP ( NNP Robert ) ( NNP M. ) ( NNP Jelenic ) ) ( NP ( CD 39 ) ) ) ( VP ( VBD was ) ( VP ( VBN named ) ( S ( NP-PRD ( NP ( NP ( NN president ) ) ) ( CC and ) ( NP ( NP ( NN chief ) ( VBG operating ) ( NN officer ) ) ) ( PP-1 ( IN of ) ( NP ( DT this ) ( ADJP ( RB closely ) ( VBN held ) ) ( NN publisher ) ) ) ) ) ) ) )

Robert M. Jelenic 39 was named president and chief operating officer of this closely held publisher


( S ( NP-SBJ ( DT The ) ( NN post ) ) ( VP ( VBD had ) ( VP ( VBN been ) ( ADJP-PRD ( JJ vacant ) ) ( PP-TMP ( IN for ) ( NP ( QP ( RBR more ) ( IN than ) ( DT a ) ) ( NN year ) ) ) ) ) )

The post had been vacant for more than a year


( S ( NP-SBJ ( NNP Mr. ) ( NNP Jelenic ) ) ( VP ( VBD had ) ( VP ( VBN been ) ( NP-PRD ( NP ( JJ executive ) ( NN vice ) ( NN president ) ) ( PP ( IN for ) ( NP ( NNS operations ) ) ) ) ) ) )

Mr. Jelenic had been executive vice president for operations


( S ( PP ( IN In ) ( NP ( NN addition ) ) ) ( NP-SBJ ( NP ( NNP Ralph ) ( NNP Ingersoll ) ( NNP II ) ) ( NP ( CD 43 ) ) ( NP ( NP ( NN chairman ) ) ( CC and ) ( NP ( NN chief ) ( NN executive ) ) ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( PRP he ) ) ( VP ( MD would ) ( VP ( VB take ) ( PRT ( RP on ) ) ( NP ( JJ additional ) ( NNS responsibilities ) ) ( PP ( IN as ) ( NP ( NP ( NN editor ) ) ( PP ( IN in ) ( NP ( NN chief ) ) ) ( PP ( IN of ) ( NP ( DT the ) ( NN company ) ) ) ) ) ) ) ) ) ) )

In addition Ralph Ingersoll II 43 chairman and chief executive said he would take on additional responsibilities as editor in chief of the company


( S ( NP-SBJ ( NNP John ) ( NNP Wilpers ) ) ( VP ( VBD resigned ) ( PP-CLR ( IN as ) ( NP ( NP ( NN editor ) ) ( PP ( IN in ) ( NP ( NN chief ) ) ) ) ) ) )

John Wilpers resigned as editor in chief


( S ( NP-SBJ ( NNP Mr. ) ( NNP Ingersoll ) ) ( VP ( VBZ remains ) ( NP-PRD ( NP ( NN editor ) ) ( PP ( IN in ) ( NP ( NN chief ) ) ) ( PP ( IN of ) ( NP ( NP ( NP ( DT the ) ( NN company ) ( POS 's ) ) ( ADJP ( RB recently ) ( VBN launched ) ) ( RB daily ) ) ( NP ( DT the ) ( NNP St. ) ( NNP Louis ) ( NNP Sun ) ) ) ) ) ) )

Mr. Ingersoll remains editor in chief of the company 's recently launched daily the St. Louis Sun


( S ( ADVP ( RB Also ) ) ( NP-SBJ-1 ( NP ( NNP Jean ) ( NNP B. ) ( NNP Clifton ) ) ( NP ( CD 28 ) ) ) ( VP ( VBD was ) ( VP ( VBN named ) ( S ( NP-PRD ( NP ( JJ executive ) ( NN vice ) ( NN president ) ) ( NP ( NN treasurer ) ) ( CC and ) ( NP ( NN chief ) ( JJ financial ) ( NN officer ) ) ) ) ) ) )

Also Jean B. Clifton 28 was named executive vice president treasurer and chief financial officer


( S ( NP-SBJ ( NNP Michael ) ( NNP Applebaum ) ) ( VP ( VBD resigned ) ( PP-TMP ( IN after ) ( NP ( NP ( QP ( RBR less ) ( IN than ) ( DT a ) ) ( NN year ) ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( NNS posts ) ) ) ) ) ) )

Michael Applebaum resigned after less than a year in the posts


( S ( NP-SBJ ( NNP Ms. ) ( NNP Clifton ) ) ( VP ( VBD had ) ( VP ( VBN been ) ( NP-PRD ( NP ( JJ executive ) ( JJ financial ) ( NN assistant ) ) ( PP ( TO to ) ( NP ( DT the ) ( NN chairman ) ) ) ) ) ) )

Ms. Clifton had been executive financial assistant to the chairman


( S ( NP-SBJ ( NNP Matra ) ( NNP S.A. ) ) ( VP ( VP ( VBD reported ) ( SBAR ( S ( NP-SBJ ( PRP$ its ) ( CD 1989 ) ( NN first-half ) ( NN profit ) ) ( VP ( VBD soared ) ( NP-EXT ( CD 88 ) ( NN % ) ) ) ) ) ) ( CC and ) ( VP ( VBD indicated ) ( SBAR ( IN that ) ( S ( NP-SBJ-1 ( NP ( PRP$ its ) ( JJ previous ) ( NN estimate ) ) ( PP ( IN of ) ( NP ( NP ( DT a ) ( CD 50 ) ( NN % ) ( NN rise ) ) ( PP ( IN in ) ( NP ( NNS earnings ) ) ) ( PP ( IN for ) ( NP ( NP ( DT all ) ) ( PP ( IN of ) ( NP ( CD 1989 ) ) ) ) ) ) ) ) ( VP ( MD will ) ( VP ( VB be ) ( VP ( VBN exceeded ) ( PP ( IN by ) ( NP ( DT a ) ( JJ wide ) ( NN margin ) ) ) ) ) ) ) ) ) ) )

Matra S.A. reported its 1989 first-half profit soared 88 % and indicated that its previous estimate of a 50 % rise in earnings for all of 1989 will be exceeded by a wide margin


( S ( NP-SBJ ( DT The ) ( JJ French ) ( NNS electronics ) ( CC and ) ( NN defense ) ( NN group ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( NP ( JJ attributable ) ( VBN consolidated ) ( JJ net ) ( NN profit ) ) ( PP ( IN for ) ( NP ( NP ( DT the ) ( JJ first ) ( CD six ) ( NNS months ) ) ( PP ( IN of ) ( NP ( CD 1989 ) ) ) ) ) ) ( VP ( VBD totaled ) ( NP ( NP ( NP ( QP ( CD 244 ) ( CD million ) ) ( NNS francs ) ) ( PRN ( NP ( QP ( CD 38.4 ) ( CD million ) ) ) ) ) ( PP ( VBN compared ) ( PP ( IN with ) ( NP ( NP ( QP ( CD 130 ) ( CD million ) ) ( NNS francs ) ) ( PRN ( NP ( QP ( CD 20.5 ) ( CD million ) ) ) ) ( PP-TMP ( IN in ) ( NP ( NP ( DT the ) ( JJ corresponding ) ( NN period ) ) ( FRAG ( PP ( IN of ) ) ) ) ) ) ) ) ) ) ) ) ) )

The French electronics and defense group said attributable consolidated net profit for the first six months of 1989 totaled 244 million francs 38.4 million compared with 130 million francs 20.5 million in the corresponding period of


( S ( NP-SBJ ( VBG Operating ) ( NN profit ) ) ( VP ( VBD climbed ) ( NP-EXT ( CD 51 ) ( NN % ) ) ( PP-DIR ( TO to ) ( NP ( QP ( CD 572 ) ( CD million ) ) ( NNS francs ) ) ) ( PP-DIR ( IN from ) ( NP ( NP ( QP ( CD 378 ) ( CD million ) ) ) ( PP-TMP ( IN in ) ( NP ( NP ( DT the ) ( JJ first ) ( DT half ) ) ( PP ( IN of ) ( NP ( CD 1988 ) ) ) ) ) ) ) ) )

Operating profit climbed 51 % to 572 million francs from 378 million in the first half of 1988


( S ( NP-SBJ ( NNP Matra ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( NP ( DT the ) ( JJ sharp ) ( NN improvement ) ) ( PP-LOC ( IN in ) ( NP ( JJ net ) ( NN profit ) ) ) ) ( VP ( ADVP ( RB partly ) ) ( VBD reflected ) ( NP ( NP ( DT a ) ( NN decline ) ) ( PP ( IN of ) ( NP ( QP ( CD 59 ) ( CD million ) ) ( NNS francs ) ) ) ( PP-LOC ( IN in ) ( NP ( NP ( DT the ) ( NN group ) ( POS 's ) ) ( JJ net ) ( NN loss ) ) ) ( PP ( IN from ) ( NP ( NP ( VBG nonrecurring ) ( NNS items ) ) ( PP-TMP ( IN in ) ( NP ( NP ( DT the ) ( JJ first ) ( DT half ) ) ( PP ( IN of ) ( NP ( DT this ) ( NN year ) ) ) ) ) ) ) ( PP ( TO to ) ( NP ( QP ( CD 104 ) ( CD million ) ) ( NNS francs ) ) ) ( PP ( IN from ) ( NP ( CD 163 ) ( CD million ) ) ( ADVP ( NP ( DT a ) ( NN year ) ) ( RBR earlier ) ) ) ) ) ) ) ) )

Matra said the sharp improvement in net profit partly reflected a decline of 59 million francs in the group 's net loss from nonrecurring items in the first half of this year to 104 million francs from 163 million a year earlier


( S ( NP-SBJ ( EX There ) ) ( VP ( VBD was ) ( ADVP ( RB also ) ) ( NP-PRD ( NP ( DT a ) ( NN decline ) ) ( PP-LOC ( IN in ) ( NP ( NP ( DT the ) ( NN group ) ( POS 's ) ) ( JJ net ) ( JJ financial ) ( NNS costs ) ) ) ( PP ( TO to ) ( NP ( QP ( CD 25 ) ( CD million ) ) ( NNS francs ) ) ) ( PP ( IN from ) ( NP ( QP ( CD 50 ) ( CD million ) ) ) ( ADVP-TMP ( NP ( DT a ) ( NN year ) ) ( IN before ) ) ) ) ) )

There was also a decline in the group 's net financial costs to 25 million francs from 50 million a year before


( S ( NP-SBJ-1 ( DT These ) ( NNS movements ) ) ( VP ( VBD were ) ( VP ( VBN offset ) ( ADVP ( RB however ) ) ( PP ( IN by ) ( NP-LGS ( NP ( DT a ) ( JJ steep ) ( NN rise ) ) ( PP-LOC ( IN in ) ( NP ( JJ corporate ) ( NN income ) ( NN tax ) ( NNS payments ) ) ) ( PP ( TO to ) ( NP ( QP ( CD 199 ) ( CD million ) ) ( NNS francs ) ) ) ( PP ( IN from ) ( NP ( QP ( CD 35 ) ( CD million ) ) ) ( PP-TMP ( IN in ) ( NP ( NP ( DT the ) ( JJ first ) ( CD six ) ( NNS months ) ) ( PP ( IN of ) ( NP ( CD 1988 ) ) ) ) ) ) ) ) ) ) )

These movements were offset however by a steep rise in corporate income tax payments to 199 million francs from 35 million in the first six months of 1988


( S ( NP-SBJ ( NNP Matra ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ-1 ( NP ( DT the ) ( JJ sharp ) ( NN rise ) ) ( PP-LOC ( IN in ) ( NP ( PRP$ its ) ( JJ first-half ) ( NNS earnings ) ) ) ) ( VP ( VBD was ) ( VP ( VBN based ) ( PP-LOC-CLR ( IN on ) ( NP ( NP ( DT a ) ( ADJP ( CD 15 ) ( NN % ) ) ( NN gain ) ) ( PP-LOC ( IN in ) ( NP ( JJ consolidated ) ( NN revenue ) ) ) ( PP ( TO to ) ( NP ( QP ( CD 10.16 ) ( CD billion ) ) ( NNS francs ) ) ) ( PP ( IN from ) ( NP ( QP ( CD 8.85 ) ( CD billion ) ) ) ( ADVP-TMP ( NP ( DT a ) ( NN year ) ) ( RBR earlier ) ) ) ) ) ) ) ) ) ) )

Matra said the sharp rise in its first-half earnings was based on a 15 % gain in consolidated revenue to 10.16 billion francs from 8.85 billion a year earlier


( S ( NP-SBJ ( NNS Conservatives ) ) ( VP ( VBP have ) ( NP ( NP ( DT an ) ( JJ important ) ( NN decision ) ) ( SBAR ( S ( VP ( TO to ) ( VP ( VB make ) ( NP-TMP ( DT this ) ( NN fall ) ) ) ) ) ) ) ) )

Conservatives have an important decision to make this fall


( S ( PP-LOC ( IN At ) ( NP ( NP ( DT the ) ( JJ recent ) ( NNS meetings ) ) ( PP ( IN of ) ( NP ( DT the ) ( NNP World ) ( NNP Bank ) ( CC and ) ( NNP International ) ( NNP Monetary ) ( NNP Fund ) ) ) ) ) ( NP-SBJ ( DT the ) ( NNP Bush ) ( NN administration ) ) ( VP ( VBD announced ) ( NP ( PRP$ its ) ( NN intention ) ( S ( VP ( TO to ) ( VP ( VB decide ) ( PP-TMP ( IN by ) ( NP ( NN yearend ) ) ) ( NP ( NP ( DT the ) ( NN size ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( JJ next ) ( NN increase ) ) ( PP-LOC ( IN in ) ( NP ( NP ( DT the ) ( NNP IMF ) ( POS 's ) ) ( NN capital ) ( NN base ) ) ) ) ) ) ) ) ) ) ) )

At the recent meetings of the World Bank and International Monetary Fund the Bush administration announced its intention to decide by yearend the size of the next increase in the IMF 's capital base


( S ( SBAR-ADV ( IN While ) ( S ( NP-SBJ ( NP ( DT the ) ( NNP U.S. ) ( NN share ) ) ( PP ( IN of ) ( NP ( DT the ) ( NN increase ) ) ) ) ( ADVP ( RB probably ) ) ( VP ( MD will ) ( RB not ) ( VP ( VB reach ) ( NP ( NP ( NP ( DT the ) ( QP ( CD 12 ) ( CD billion ) ) ) ( QP ( CC or ) ( RBR more ) ) ) ( ADJP ( JJ implicit ) ( PP ( IN in ) ( NP ( NP ( NP ( DT the ) ( NNP IMF ) ( POS 's ) ) ( NN request ) ) ( PP ( IN for ) ( NP ( NP ( DT a ) ( NN doubling ) ) ( PP ( IN of ) ( NP ( PRP$ its ) ( ADJP ( QP ( CD 90 ) ( CD billion ) ) ) ( NN capital ) ) ) ) ) ) ) ) ) ) ) ) ) ( NP-SBJ ( DT the ) ( NN administration ) ) ( ADVP ( RB probably ) ) ( VP ( MD will ) ( VP ( VB agree ) ( PP-CLR ( TO to ) ( NP ( DT a ) ( JJ multibillion-dollar ) ( NN increase ) ) ) ) ) )

While the U.S. share of the increase probably will not reach the 12 billion or more implicit in the IMF 's request for a doubling of its 90 billion capital the administration probably will agree to a multibillion-dollar increase


( S ( NP-SBJ ( DT This ) ) ( VP ( MD would ) ( VP ( VB be ) ( ADJP-PRD ( JJ consistent ) ( PP ( PP ( IN with ) ( NP ( NP ( PRP$ its ) ( VBG unwavering ) ( NN support ) ) ( PP ( IN for ) ( NP ( NP ( DT the ) ( NNP Brady ) ( NNP Plan ) ) ( CC and ) ( NP ( NNP G-7 ) ( JJ exchange-rate ) ( NN intervention ) ) ) ) ) ) ( CC and ) ( PP ( IN with ) ( NP ( NP ( PRP$ its ) ( JJ financial ) ( NN commitment ) ) ( PP ( TO to ) ( NP ( NNP Mexico ) ( NNP Poland ) ( CC and ) ( NNS others ) ) ) ) ) ) ) ) ) )

This would be consistent with its unwavering support for the Brady Plan and G-7 exchange-rate intervention and with its financial commitment to Mexico Poland and others


( S ( NP-SBJ-1 ( DT The ) ( NNP IMF ) ) ( VP ( VBZ has ) ( NP ( NP ( JJ several ) ( NNS reasons ) ) ( PP ( IN for ) ( S-NOM ( VP ( VBG requesting ) ( NP ( DT the ) ( NN increase ) ) ) ) ) ) ) )

The IMF has several reasons for requesting the increase


( S ( NP-SBJ ( NP ( PRP$ Its ) ( NN role ) ) ( PP-LOC ( IN in ) ( NP ( NP ( DT the ) ( NNS economies ) ) ( PP ( IN of ) ( NP ( VBG developing ) ( NNS countries ) ) ) ) ) ) ( VP ( VBZ has ) ( VP ( VBN grown ) ( ADVP-MNR ( RB steadily ) ) ( PP-TMP ( IN since ) ( NP ( DT the ) ( CD 1970s ) ) ) ) ) )

Its role in the economies of developing countries has grown steadily since the 1970s


( S ( NP-SBJ ( NP ( DT The ) ( NN size ) ( CC and ) ( NN pace ) ) ( PP ( IN of ) ( NP ( NNS disbursements ) ) ) ) ( VP ( MD will ) ( VP ( VB accelerate ) ( ADVP-CLR ( RB further ) ) ( PP-LOC ( IN under ) ( NP ( NP ( DT the ) ( NNP Brady ) ( NNP Plan ) ) ( SBAR ( WHNP-1 ( WDT which ) ) ( S ( VP ( VBZ promises ) ( NP ( ADJP ( JJR larger ) ( CC and ) ( JJR earlier ) ) ( NNS disbursements ) ) ( PP-DTV ( TO to ) ( NP ( VBN approved ) ( NNS countries ) ) ) ) ) ) ) ) ) ) )

The size and pace of disbursements will accelerate further under the Brady Plan which promises larger and earlier disbursements to approved countries