20732012@unknown@formal@none@1@S@Rep. Robert K. Dornan (R., Calif.) Washington@@@@1@7@@oe@2-2-2013
20732013@unknown@formal@none@1@S@That the motivation for the two-year reduction to 19.6% is budgetary does not mean it is not in the public interest.@@@@1@21@@oe@2-2-2013
20732014@unknown@formal@none@1@S@The reduction eases the burden on portfolio changes and frees capital to seek more productive or more appropriate uses.@@@@1@19@@oe@2-2-2013
20732015@unknown@formal@none@1@S@But what is really significant is the indexation of capital gains after 1991.@@@@1@13@@oe@2-2-2013
20732016@unknown@formal@none@1@S@To argue that this is "not likely" to affect the economy in positive ways is contrary both to recent experience with capital-gains tax cuts and to common sense.@@@@1@28@@oe@2-2-2013
20732017@unknown@formal@none@1@S@A large part of the long-term appreciation of assets reflects inflation, and the taxation of inflation-created capital gains is confiscation.@@@@1@20@@oe@2-2-2013
20732018@unknown@formal@none@1@S@Does the Journal really believe that people ignore the prospect of having a substantial part of their capital confiscated when they decide whether to save or how to invest?@@@@1@29@@oe@2-2-2013
20732019@unknown@formal@none@1@S@Under current law, it is not financially rational to forgo consumption.@@@@1@11@@oe@2-2-2013
20732020@unknown@formal@none@1@S@Real, aftertax returns from financial assets are on the order of 1% or 2% a year.@@@@1@16@@oe@2-2-2013
20732021@unknown@formal@none@1@S@The capital-gains tax reform is a step toward correcting one of the gravest structural weaknesses of the U.S. economy, the closely connected phenomena of low savings rates, weak capital formation and high capital costs.@@@@1@34@@oe@2-2-2013
20732022@unknown@formal@none@1@S@J. Sigurd Nielsen Richmond, Va.@@@@1@5@@oe@2-2-2013
20733001@unknown@formal@none@1@S@Isaac Hersly, 41 years old, was elected president and chief operating officer of this designer and marketer of graphics, video, cable and other television-related equipment.@@@@1@25@@oe@2-2-2013
20733002@unknown@formal@none@1@S@He succeeds Alfred O.P. Leubert, 66, who continues as chairman and chief executive officer.@@@@1@14@@oe@2-2-2013
20733003@unknown@formal@none@1@S@Mr. Hersly formerly was group vice president of marketing and product planning for Chyron and president of the telesystems and video products division.@@@@1@23@@oe@2-2-2013
20734001@unknown@formal@none@1@S@W.R. Grace & Co. said it formed a new horticultural-products company by combining its soil-nutrients and fertilizers business with Sierra Chemical Co., Milpitas, Calif.@@@@1@24@@oe@2-2-2013
20734002@unknown@formal@none@1@S@Grace, a maker of specialty chemicals that already owned about 30% of closely held Sierra, said it owns a 49% stake in the new company.@@@@1@25@@oe@2-2-2013
20734003@unknown@formal@none@1@S@Grace said it didn't invest any additional capital in the venture, which will be known as Grace-Sierra Horticultural Products Co.@@@@1@20@@oe@2-2-2013
20734004@unknown@formal@none@1@S@The business is expected to have sales of about $100 million in 1990, Grace said.@@@@1@15@@oe@2-2-2013
20734005@unknown@formal@none@1@S@The new company's product lines will be aimed at nurseries, greenhouses and the lawn and garden industry.@@@@1@17@@oe@2-2-2013
20735001@unknown@formal@none@1@S@The Financial Accounting Standards Board said it will soon issue a rule requiring disclosure about the financial risk of certain financial instruments.@@@@1@22@@oe@2-2-2013
20735002@unknown@formal@none@1@S@But the chief rule-making body for accountants backed off one part of its original proposal made earlier this year that would have required a breakdown of certain balance-sheet items related to off-balance sheet instruments.@@@@1@34@@oe@2-2-2013
20735003@unknown@formal@none@1@S@The balance-sheet detail was opposed by many banks and thrifts that felt the cost of supplying such data wasn't worth the value of the disclosures.@@@@1@25@@oe@2-2-2013
20735004@unknown@formal@none@1@S@Under the initial proposal, for example, banks would have been required to disclose that portion of allowances for loan losses that reflects specific letters of credit for which customers had defaulted.@@@@1@31@@oe@2-2-2013
20735005@unknown@formal@none@1@S@The final rule won't require such a breakdown of the allowances for loan losses, which appears on the balance sheet.@@@@1@20@@oe@2-2-2013
20735006@unknown@formal@none@1@S@The FASB rule will cover such financial instruments as interest rate swaps, financial guarantees, foward interest rate contracts, loan contracts, loan commitments and options written on securites held.@@@@1@28@@oe@2-2-2013
20735007@unknown@formal@none@1@S@It will require companies to spell out in more detail collateral polices and concentrations of credit risk for all financial instruments.@@@@1@21@@oe@2-2-2013
20735008@unknown@formal@none@1@S@The rule will require companies with financial instruments that have off-balance sheet risks to disclose data about the value and terms of the instruments, any accounting loss that would occur if the outside party involved in the instrument failed to perform, and the company's policy for requiring collateral or other security for the instrument.@@@@1@54@@oe@2-2-2013
20735009@unknown@formal@none@1@S@Scott Miller, an FASB project manager, said that a final rule will be issued before year end.@@@@1@17@@oe@2-2-2013
20735010@unknown@formal@none@1@S@But he noted that the initial effective date of the earlier proposal had been delayed by six months.@@@@1@18@@oe@2-2-2013
20736001@unknown@formal@none@1@S@Poughkeepsie Savings Bank said a plan to sell its South Carolina branch offices to First Citizens Bank, of Columbia, S.C., fell through.@@@@1@22@@oe@2-2-2013
20736002@unknown@formal@none@1@S@Poughkeepsie also expects to post a one-time charge of $8.3 million, resulting in a net loss for the third quarter.@@@@1@20@@oe@2-2-2013
20736003@unknown@formal@none@1@S@The charge represents a write-down of the goodwill associated with Poughkeepsie's investment in the banks it is trying to sell and its North Carolina branches as well.@@@@1@27@@oe@2-2-2013
20736004@unknown@formal@none@1@S@The thrift announced the plan Aug. 21.@@@@1@7@@oe@2-2-2013
20736005@unknown@formal@none@1@S@Among other reasons, high fees regulators imposed on certain transfers of thrift deposits to commercial banks "substantially altered the economics of the transaction for both parties," Poughkeepsie said.@@@@1@28@@oe@2-2-2013
20736006@unknown@formal@none@1@S@Additionally, the bank is increasing its loan-loss reserves for the third quarter by $8.5 million before taxes.@@@@1@17@@oe@2-2-2013
20736007@unknown@formal@none@1@S@In the year-earlier third quarter, Poughkeepsie Savings had net income of $2.8 million, or 77 cents a share.@@@@1@18@@oe@2-2-2013
20736008@unknown@formal@none@1@S@Poughkeepsie said it is continuing to try to sell itself, under a June agreement with a dissident-shareholder group.@@@@1@18@@oe@2-2-2013
20736009@unknown@formal@none@1@S@The bank also said its effort would continue past the Nov. 1 deadline set in that agreement and that the litigation between the two sides might resume as a result.@@@@1@30@@oe@2-2-2013
20736010@unknown@formal@none@1@S@The thrift and the holders had suspended their lawsuits as part of the agreement.@@@@1@14@@oe@2-2-2013
20737001@unknown@formal@none@1@S@Joe Frank Sanderson Jr. was elected president and chief executive officer of this poultry producer.@@@@1@15@@oe@2-2-2013
20737002@unknown@formal@none@1@S@Joe Frank Sanderson, who is currently chairman, chief executive and treasurer, will remain chairman.@@@@1@14@@oe@2-2-2013
20737003@unknown@formal@none@1@S@The current president and chief operating officer, J. Odell Johnson, was elected to the new position of vice chairman of the board.@@@@1@22@@oe@2-2-2013
20738001@unknown@formal@none@1@S@Kinder-Care Inc. was dropped from the consumer services industry group of the Dow Jones Equity Market index because the company split itself in a restructuring.@@@@1@25@@oe@2-2-2013
20738002@unknown@formal@none@1@S@It was succeeded in the group by Fuqua Industries Inc.@@@@1@10@@oe@2-2-2013
20738003@unknown@formal@none@1@S@Both moves are effective today.@@@@1@5@@oe@2-2-2013
20739001@unknown@formal@none@1@S@A potentially safer whooping cough vaccine made by novel genetic engineering techniques was described by a team of Italian, U.S. and Japanese scientists.@@@@1@23@@oe@2-2-2013
20739002@unknown@formal@none@1@S@The team reported they managed to induce bacteria to produce a non-toxic version of the poisons produced by the bacterium that causes whooping cough.@@@@1@24@@oe@2-2-2013
20739003@unknown@formal@none@1@S@Laboratory tests showed that non-toxic versions of the poisons are capable of inducing an immunity to whooping cough, the researchers reported in this week's issue of the journal Science.@@@@1@29@@oe@2-2-2013
20739004@unknown@formal@none@1@S@The current vaccine for whooping cough, or pertussis, is part of the "DPT" (for diphtheria, pertussis, tetanus) shot given most infants and young children.@@@@1@24@@oe@2-2-2013
20739005@unknown@formal@none@1@S@The vaccine is effective in preventing a disease that still afflicts about 60 million children a year world-wide, causing an estimated one million deaths.@@@@1@24@@oe@2-2-2013
20739006@unknown@formal@none@1@S@The vaccine, however, causes allergic reactions that can be fatal.@@@@1@10@@oe@2-2-2013
20739007@unknown@formal@none@1@S@The reactions stem from the fact that the vaccine contains multiple copies of the whole Bordetella pertussis bacterium, which causes whooping cough.@@@@1@22@@oe@2-2-2013
20739008@unknown@formal@none@1@S@This bacterium produces a toxin that, if used as a vaccine, can induce immunity to whooping cough.@@@@1@17@@oe@2-2-2013
20739009@unknown@formal@none@1@S@Unfortunately, the toxin is also poisonous.@@@@1@6@@oe@2-2-2013
20739010@unknown@formal@none@1@S@The Italian-led scientific team said they had succeeded in getting bacteria to produce a non-toxic version of the pertussis toxin, which could be used as a safe vaccine.@@@@1@28@@oe@2-2-2013
20739011@unknown@formal@none@1@S@The researchers reported they have been able to pluck the five genes that produced the toxin out of the pertussis bacterium.@@@@1@21@@oe@2-2-2013
20739012@unknown@formal@none@1@S@It turned out that although it took all five genes to produce the toxin, only one was responsible for the toxin's virulence.@@@@1@22@@oe@2-2-2013
20739013@unknown@formal@none@1@S@Ordinarily in genetic engineering each of these genes, minus the one that caused the virulence, would have been transferred to another bacterium, called E. coli, which would then produce a nonvirulent version of the toxin.@@@@1@35@@oe@2-2-2013
20739014@unknown@formal@none@1@S@The researchers said they did this, but the toxin didn't induce immunity to whooping cough.@@@@1@15@@oe@2-2-2013
20739015@unknown@formal@none@1@S@The scientists then took the five toxin genes and triggered a mutation in the one gene that caused virulence.@@@@1@19@@oe@2-2-2013
20739016@unknown@formal@none@1@S@Then, using a new technique (called homologous recombination) for introducing genes into cells, they transferred all five genes to bacteria closely related to the pertussis organism.@@@@1@26@@oe@2-2-2013
20739017@unknown@formal@none@1@S@These bacterial "cousins" ordinarily don't make the toxin.@@@@1@8@@oe@2-2-2013
20739018@unknown@formal@none@1@S@But the genes were accompanied by a piece of DNA, called a promoter, that turns the genes on.@@@@1@18@@oe@2-2-2013
20739019@unknown@formal@none@1@S@The new bacteria recipients of the genes began producing pertussis toxin which, because of the mutant virulence gene, was no longer toxic.@@@@1@22@@oe@2-2-2013
20739020@unknown@formal@none@1@S@Experiments showed that the new, non-virulent toxin is capable of inducing immunity, according to the researchers from the Selavo Research Center in Siena, Italy, the Medical College of Wisconsin in Milwaukee and the Japanese National Institutes of Health.@@@@1@38@@oe@2-2-2013
20740001@unknown@formal@none@1@S@Carl E. Pissocra, president and chief executive officer of Bank One, Dover, has been named regional president, a new post at the bank-holding company.@@@@1@24@@oe@2-2-2013
20740002@unknown@formal@none@1@S@Mr. Pissocra, 56 years old, will be responsible for the company's 10 banks in the Eastern region.@@@@1@17@@oe@2-2-2013
20740003@unknown@formal@none@1@S@Dan J. Hartwell, 41, executive vice president of Bank One, Dover, was named president and chief executive of the Dover bank, succeeding Mr. Pissocra.@@@@1@24@@oe@2-2-2013
20740004@unknown@formal@none@1@S@No one was named to succeed Mr. Hartwell.@@@@1@8@@oe@2-2-2013
20741001@unknown@formal@none@1@S@At a time when foreign banks are pouring vast resources and personnel into West Germany's financial center, the opening of a three-man office on a Frankfurt side street shouldn't attract much attention.@@@@1@32@@oe@2-2-2013
20741002@unknown@formal@none@1@S@Unless, of course, it happens to be run by the Rothschilds.@@@@1@11@@oe@2-2-2013
20741003@unknown@formal@none@1@S@After an 88-year absence from the birthplace of the family banking empire, the return of the Rothschild group to Frankfurt was greeted by the glare of television lights, curious reporters and a mayoral reception in Town Hall.@@@@1@37@@oe@2-2-2013
20741004@unknown@formal@none@1@S@Like other foreign banks establishing a presence here, the family describes its move as a calculated decision to set up a financial services outlet in Europe's largest economy ahead of the integration of European Community markets after 1992.@@@@1@38@@oe@2-2-2013
20741005@unknown@formal@none@1@S@Yet the Rothschilds don't deny an emotional element to the decision.@@@@1@11@@oe@2-2-2013
20741006@unknown@formal@none@1@S@In 1796, Mayer Amschel Rothschild founded Bankhaus M.A. Rothschild & Sons and later sent his four sons to London, Paris, Vienna and Naples to begin the bank's expansion during the early 19th century.@@@@1@33@@oe@2-2-2013
20741007@unknown@formal@none@1@S@The original bank in Frankfurt closed in 1901 after the death of Wilhelm Carl von Rothschild, and the family's banking activities focused on London and Paris.@@@@1@26@@oe@2-2-2013
20741008@unknown@formal@none@1@S@Baron Elie de Rothschild, the family's elder spokesman, explains that by the end of the 19th century, Berlin had replaced Frankfurt as Germany's financial center.@@@@1@25@@oe@2-2-2013
20741009@unknown@formal@none@1@S@Yet the chief reason for the closure, he says, was rooted in a family tradition that wouldn't allow a bank to bear the Rothschild name without a Rothschild in its management.@@@@1@31@@oe@2-2-2013
20741010@unknown@formal@none@1@S@"At the time we had only daughters," explains the 72-year-old patriarch, "so we had to close the bank."@@@@1@18@@oe@2-2-2013
20741011@unknown@formal@none@1@S@Much of the family's mystique remained.@@@@1@6@@oe@2-2-2013
20741012@unknown@formal@none@1@S@Although its palatial residence was destroyed by bombs during World War II, the Rothschilds' place in Frankfurt's history is still recalled by the city park and a street bearing the Rothschild name.@@@@1@32@@oe@2-2-2013
20741013@unknown@formal@none@1@S@The family's long absence is understandable.@@@@1@6@@oe@2-2-2013
20741014@unknown@formal@none@1@S@The family was in Allied countries during both World War I and the long period of economic strife of the 1920s.@@@@1@21@@oe@2-2-2013
20741015@unknown@formal@none@1@S@During the Third Reich, the Rothschilds were a target of Nazi propaganda against Jewish financiers.@@@@1@15@@oe@2-2-2013
20741016@unknown@formal@none@1@S@The persecution pursued the Rothschilds across Europe as the Nazis grabbed countries, confiscating the family's property in the process.@@@@1@19@@oe@2-2-2013
20741017@unknown@formal@none@1@S@American journalist William L. Shirer, in his book "The Rise and Fall of the Third Reich," wrote of how in Vienna he had witnessed "squads of {Nazi} SS men carting off silver, tapestries, paintings and other loot from the Rothschild palace."@@@@1@41@@oe@2-2-2013
20741018@unknown@formal@none@1@S@In the immediate postwar years, the Rothschilds concentrated on rebuilding their other European operations, delaying their return to Frankfurt.@@@@1@19@@oe@2-2-2013
20741019@unknown@formal@none@1@S@"For a member of the Rothschild family, the return to Frankfurt is a very meaningful event, although it might not mean as much to German banking as it means to us," says Baron David de Rothschild, Elie's younger cousin and a partner in Rothschild & Cie. Banque in Paris.@@@@1@49@@oe@2-2-2013
20741020@unknown@formal@none@1@S@Indeed, the competition isn't greatly concerned.@@@@1@6@@oe@2-2-2013
20741021@unknown@formal@none@1@S@"It would be surprising if they didn't come to Frankfurt in time for 1992, and they bring an interesting tradition.@@@@1@20@@oe@2-2-2013
20741022@unknown@formal@none@1@S@But the market really isn't going to be stood on its head," said a banker at one of Frankfurt's Big Three banks.@@@@1@22@@oe@2-2-2013
20741023@unknown@formal@none@1@S@The return of the Rothschilds is modest.@@@@1@7@@oe@2-2-2013
20741024@unknown@formal@none@1@S@The new representative office, with one manager and two assistants -- none a member of the Rothschild family -- will carry out no banking operations of its own.@@@@1@28@@oe@2-2-2013
20741025@unknown@formal@none@1@S@Instead, it is to seek out corporate financing business and sell investment products on behalf of the family's mainstay banking units: N M Rothschild & Sons Ltd. in London, Rothschild & Cie. in Paris and Rothschild Bank AG in Zurich.@@@@1@40@@oe@2-2-2013
20741026@unknown@formal@none@1@S@The constraints don't bother the office's 54-year-old manager, Erich Stromeyer.@@@@1@10@@oe@2-2-2013
20741027@unknown@formal@none@1@S@He left his job as general manager of Shearson Lehman Hutton Holdings Inc.'s Frankfurt office because, he says, "When the Rothschilds called, I couldn't resist."@@@@1@25@@oe@2-2-2013
20741028@unknown@formal@none@1@S@Each Rothschild bank is linked by family ties and cross-ownership.@@@@1@10@@oe@2-2-2013
20741029@unknown@formal@none@1@S@In March, N M Rothschild in London and Rothschild Bank in Zurich showed assets of #4.1 billion ($6.51 billion) and 1.26 billion Swiss francs ($774 million), respectively.@@@@1@27@@oe@2-2-2013
20741030@unknown@formal@none@1@S@The Paris bank doesn't publish that figure.@@@@1@7@@oe@2-2-2013
20741031@unknown@formal@none@1@S@In Europe, the Rothschilds banks are focusing on mergers and acquisitions as European industry restructures ahead of 1992.@@@@1@18@@oe@2-2-2013
20741032@unknown@formal@none@1@S@Yet the group's limited resources makes it a niche player.@@@@1@10@@oe@2-2-2013
20741033@unknown@formal@none@1@S@"Obviously, there are quantitative limitations on the assistance we can provide," concedes Baron David de Rothschild, "but we feel we have some cards to play."@@@@1@25@@oe@2-2-2013
20741034@unknown@formal@none@1@S@Among them, he says, is the family's traditional ties to old wealth and decision-makers in banking and industry throughout Europe and beyond.@@@@1@22@@oe@2-2-2013
20741035@unknown@formal@none@1@S@The Rothschilds hope to use a long history in private banking and an aura of exclusivity to attract private and institutional investors.@@@@1@22@@oe@2-2-2013
20741036@unknown@formal@none@1@S@As at the Zurich bank, the minimum investment for individuals will be high: about a million German marks ($538,000), three times what many other West German investment banks require.@@@@1@29@@oe@2-2-2013
20741037@unknown@formal@none@1@S@"But we do make exceptions," says a smiling Baron Elie de Rothschild, "especially if they are very young and have very rich parents.@@@@1@23@@oe@2-2-2013
20742001@unknown@formal@none@1@S@As program trading comes under renewed attack for causing stock market gyrations, a few people on Wall Street say it is time to consider extreme measures.@@@@1@26@@oe@2-2-2013
20742002@unknown@formal@none@1@S@The real answer to curbing wild swings in stock prices, they say, might be to curb or even abolish stock-index futures.@@@@1@21@@oe@2-2-2013
20742003@unknown@formal@none@1@S@A stock-index future is a contract to buy or sell the market value of a basket of stocks, such as the Standard & Poor's 500-stock index.@@@@1@26@@oe@2-2-2013
20742004@unknown@formal@none@1@S@Since stock futures were created in 1982, trading on the Chicago Mercantile Exchange and other exchanges has boomed to the point where trading in stock-index futures rivals that in the stocks themselves.@@@@1@32@@oe@2-2-2013
20742005@unknown@formal@none@1@S@The conventional view, as voiced by Goldman, Sachs & Co. partner Fischer Black, is that stocks and "derivatives" such as futures and options "form a single market, and that derivatives make it a more liquid market."@@@@1@36@@oe@2-2-2013
20742006@unknown@formal@none@1@S@But increasingly, people are questioning that view, and the critics include some of the country's most successful investors.@@@@1@18@@oe@2-2-2013
20742007@unknown@formal@none@1@S@Warren Buffett has been on record as opposing stock-index futures since their inception in 1982.@@@@1@15@@oe@2-2-2013
20742008@unknown@formal@none@1@S@And Mario Gabelli, another star in the investing world, says, "My gut says the negatives of futures and synthetics far outweigh the benefits."@@@@1@23@@oe@2-2-2013
20742009@unknown@formal@none@1@S@Like others, Mr. Gabelli says that if futures cause investors to lose confidence in stocks, they will move away from stocks -- as many have already done.@@@@1@27@@oe@2-2-2013
20742010@unknown@formal@none@1@S@And those who remain, he says "will demand a higher return and over time raise the cost of capital to companies."@@@@1@21@@oe@2-2-2013
20742011@unknown@formal@none@1@S@Essentially, the critics of stock-index futures fall into two camps.@@@@1@10@@oe@2-2-2013
20742012@unknown@formal@none@1@S@One group says the futures contribute to stock market volatility; the other contends that futures are a sideshow of speculation that detracts from the stock market's basic function of raising capital.@@@@1@31@@oe@2-2-2013
20742013@unknown@formal@none@1@S@"Before futures," says New York investor Michael Harkins, "you actually had to pay attention to whether the thing you were buying had any intrinsic value."@@@@1@25@@oe@2-2-2013
20742014@unknown@formal@none@1@S@While it was once expected that futures would mimic stock prices, traders now routinely check the futures markets in Chicago before they buy or sell stocks.@@@@1@26@@oe@2-2-2013
20742015@unknown@formal@none@1@S@When Chicago futures prices jump up or down, the New York Stock Exchange follows.@@@@1@14@@oe@2-2-2013
20742016@unknown@formal@none@1@S@On Tuesday, for instance, the Dow Jones Industrial Average plunged 80 points in little more than an hour.@@@@1@18@@oe@2-2-2013
20742017@unknown@formal@none@1@S@Then, in the space of a 20-minute coffee break, the average rallied almost all of the way back.@@@@1@18@@oe@2-2-2013
20742018@unknown@formal@none@1@S@Paul Lesutis, who manages more than $3 billion of investments at Provident Capital Management Inc., blames futures markets for leading the way.@@@@1@22@@oe@2-2-2013
20742019@unknown@formal@none@1@S@"The fundamentals don't change in an hour," he says.@@@@1@9@@oe@2-2-2013
20742020@unknown@formal@none@1@S@"I think they should close down the futures exchange and then we could get back to investing."@@@@1@17@@oe@2-2-2013
20742021@unknown@formal@none@1@S@Index arbitrage -- the rapid-fire buying and selling of stocks offset with opposite trades in futures -- is frequently blamed for adding to stock market volatility.@@@@1@26@@oe@2-2-2013
20742022@unknown@formal@none@1@S@Although index arbitrage is said to add liquidity to markets, John Bachmann, managing partner of Edward D. Jones, says too much liquidity isn't a good thing@@@@1@26@@oe@2-2-2013
20742023@unknown@formal@none@1@S@"The kind of instant liquidity that is implied by index futures is that you can buy a portfolio over two years and get out in one day.@@@@1@27@@oe@2-2-2013
20742024@unknown@formal@none@1@S@It's too disruptive," he says.@@@@1@5@@oe@2-2-2013
20742025@unknown@formal@none@1@S@"It isn't investing."@@@@1@3@@oe@2-2-2013
20742026@unknown@formal@none@1@S@But stock-index futures have plenty of support.@@@@1@7@@oe@2-2-2013
20742027@unknown@formal@none@1@S@Defenders say futures make markets more efficient and provide ways for investors to reduce risks.@@@@1@15@@oe@2-2-2013
20742028@unknown@formal@none@1@S@They note that stocks experienced volatile swings long before futures.@@@@1@10@@oe@2-2-2013
20742029@unknown@formal@none@1@S@And, defenders say, few people complain about futures when stock prices are rising.@@@@1@13@@oe@2-2-2013
20742030@unknown@formal@none@1@S@Louis Margolis, managing director in charge of equity options and futures at Salomon Inc., says that trading baskets of stocks began in the 1970s, a decade before the advent of futures.@@@@1@31@@oe@2-2-2013
20742031@unknown@formal@none@1@S@Futures, he says, merely cut down on trading costs.@@@@1@9@@oe@2-2-2013
20742032@unknown@formal@none@1@S@He says "blaming futures is like blaming the messenger."@@@@1@9@@oe@2-2-2013
20742033@unknown@formal@none@1@S@Since stock-index arbitrage merely narrows the gap between prices in the futures and stock markets, it can't add to volatility, he says.@@@@1@22@@oe@2-2-2013
20742034@unknown@formal@none@1@S@Futures "don't need defending," says Andrew Yemma, a spokesman for the Chicago Mercantile Exchange, which trades the S&P 500, by far the largest stock-index futures contract.@@@@1@26@@oe@2-2-2013
20742035@unknown@formal@none@1@S@Despite the current outcry over stock market volatility, few people expect stock futures to disappear.@@@@1@15@@oe@2-2-2013
20742036@unknown@formal@none@1@S@For one thing, the Chicago futures exchanges have political and financial clout -- including many friends in Congress.@@@@1@18@@oe@2-2-2013
20742037@unknown@formal@none@1@S@And traders say that futures have become an accepted part of the financial landscape.@@@@1@14@@oe@2-2-2013
20742038@unknown@formal@none@1@S@"All life is about change -- either you adapt or die," says one Chicago futures trader.@@@@1@16@@oe@2-2-2013
20742039@unknown@formal@none@1@S@"If futures aren't permitted here, we'll take it to Australia or Tokyo."@@@@1@12@@oe@2-2-2013
20742040@unknown@formal@none@1@S@Average daily volume in S&P 500 futures last year was 44,877 contracts.@@@@1@12@@oe@2-2-2013
20742041@unknown@formal@none@1@S@Based on yesterday's closing price of the S&P, the average value of one day's trading amounts to $7.6 billion.@@@@1@19@@oe@2-2-2013
20742042@unknown@formal@none@1@S@By contrast, average dollar volume on the Big Board last year was $5.3 billion.@@@@1@14@@oe@2-2-2013
20742043@unknown@formal@none@1@S@Many investment managers say futures are useful as a way to hedge portfolios.@@@@1@13@@oe@2-2-2013
20742044@unknown@formal@none@1@S@If managers fear that the overall stock market will fall, but want to continue owning stocks, they can hold on to specific stocks and sell a corresponding amount of futures contracts.@@@@1@31@@oe@2-2-2013
20742045@unknown@formal@none@1@S@Average daily volume in S&P 500 futures last year was 44,877 contracts.@@@@1@12@@oe@2-2-2013
20742046@unknown@formal@none@1@S@Based on yesterday's closing price of the S&P, the average value of one day's trading amounts to $7.6 billion.@@@@1@19@@oe@2-2-2013
20742047@unknown@formal@none@1@S@By contrast, average dollar volume on the Big Board last year was $5.3 billion.@@@@1@14@@oe@2-2-2013
20742048@unknown@formal@none@1@S@Many investment managers say futures are useful as a way to hedge portfolios.@@@@1@13@@oe@2-2-2013
20742049@unknown@formal@none@1@S@If managers fear that the overall stock market will fall, but want to continue owning stocks, they can hold on to specific stocks and sell a corresponding amount of futures contracts.@@@@1@31@@oe@2-2-2013
20742050@unknown@formal@none@1@S@And although criticism of futures generally comes from Wall Street, one Chicago futures trader notes that brokerage firms rely on futures as hedging tools when they buy and sell big blocks of stocks from institutions.@@@@1@35@@oe@2-2-2013
20742051@unknown@formal@none@1@S@One reason futures are said to add volatility is that -- unlike in stocks -- people can speculate in futures with little money down.@@@@1@24@@oe@2-2-2013
20742052@unknown@formal@none@1@S@Margin requirements for speculators on the Chicago Mercantile Exchange are currently about 7%.@@@@1@13@@oe@2-2-2013
20742053@unknown@formal@none@1@S@"For $10 million, you can move $100 million of stocks," a specialist on the Big Board gripes.@@@@1@17@@oe@2-2-2013
20742054@unknown@formal@none@1@S@"That gives futures traders a lot more power."@@@@1@8@@oe@2-2-2013
20742055@unknown@formal@none@1@S@By contrast, an investor in stocks must put up 50% in cash.@@@@1@12@@oe@2-2-2013
20742056@unknown@formal@none@1@S@Some critics say futures encourage people to think of stocks as a single commodity, rather than as investments in individual businesses.@@@@1@21@@oe@2-2-2013
20742057@unknown@formal@none@1@S@Thus, they say, futures inhibit the basic purpose of the stock market: to accurately price securities so that capital and investment flows where it's needed most.@@@@1@26@@oe@2-2-2013
20742058@unknown@formal@none@1@S@The S&P 500 index futures "transferred the identity of 500 stocks into one unit-making them a simple commodity to trade," says George Kegler, senior vice president at A. Webster Dougherty in Philadelphia.@@@@1@32@@oe@2-2-2013
20742059@unknown@formal@none@1@S@"It took away the need to know the bad third-quarter report of IBM, for example," Mr. Kegler says.@@@@1@18@@oe@2-2-2013
20742060@unknown@formal@none@1@S@Of course, portfolio trading -- the increasingly common practice of buying or selling baskets of actual stocks -- also treats stocks as homogenous commodities.@@@@1@24@@oe@2-2-2013
20742061@unknown@formal@none@1@S@"There is a class of investor that wants to be exposed" to the whole market, says Sandip Bhagat, assistant vice president at Travelers Investment Management Co.@@@@1@26@@oe@2-2-2013
20742062@unknown@formal@none@1@S@The S&P futures are merely a "cheaper and quicker" way to get access to all 500 stocks, he says.@@@@1@19@@oe@2-2-2013
20742063@unknown@formal@none@1@S@The Big Board yesterday began trading in its own basket trading vehicle representing the S&P 500 stocks.@@@@1@17@@oe@2-2-2013
20742064@unknown@formal@none@1@S@But owning index futures isn't the same as owning the underlying stocks.@@@@1@12@@oe@2-2-2013
20742065@unknown@formal@none@1@S@Stockholders, as a group, can win, because they own a share of corporate earnings, which can grow and boost stock prices.@@@@1@21@@oe@2-2-2013
20742066@unknown@formal@none@1@S@Futures, on the other hand, are a zero sum game -- a market for making side bets about the direction of stock prices.@@@@1@23@@oe@2-2-2013
20742067@unknown@formal@none@1@S@"You don't own anything," says Stephen Boesel, a money manager for T. Rowe Price in Baltimore.@@@@1@16@@oe@2-2-2013
20742068@unknown@formal@none@1@S@"You're making a pure bet on the market.@@@@1@8@@oe@2-2-2013
20743001@unknown@formal@none@1@S@The European Community Commission challenged an agreement on routes and fares between France's two largest airlines on antitrust grounds.@@@@1@19@@oe@2-2-2013
20743002@unknown@formal@none@1@S@Meeting in Strasbourg Wednesday, the commission voted, as expected, to formally object to the accord between Air France, the state-owned airline, and state-controlled domestic carrier Air Inter.@@@@1@27@@oe@2-2-2013
20743003@unknown@formal@none@1@S@An EC spokesman said the two companies will be notified so they can begin negotiations with Brussels on how to modify the pact.@@@@1@23@@oe@2-2-2013
20743004@unknown@formal@none@1@S@At issue is an accord dating back to March in which Air France gained access to five domestic French routes under Air Inter's flight numbers and the domestic airline got to fly to five cities outside of France under the flag of Air France.@@@@1@44@@oe@2-2-2013
20743005@unknown@formal@none@1@S@The two shared results from this route swap, and followed rules on ticket pricing.@@@@1@14@@oe@2-2-2013
20743006@unknown@formal@none@1@S@The EC Commission decided that such an accord doesn't benefit consumers enough to merit an exemption from antitrust law.@@@@1@19@@oe@2-2-2013
20743007@unknown@formal@none@1@S@The airlines presented it as offering consumers more choice and better flight connections.@@@@1@13@@oe@2-2-2013
20743008@unknown@formal@none@1@S@An Air France spokeswoman said, "we're absolutely ready to study all solutions."@@@@1@12@@oe@2-2-2013
20743009@unknown@formal@none@1@S@An Air Inter spokesman said, "Because they {the EC} have doubts, we will work again on the text and the contents of the accord.@@@@1@24@@oe@2-2-2013
20744001@unknown@formal@none@1@S@A state appellate court reinstated the 1987 convictions of Pymm Thermometer Corp. and two of its executives on charges of assault for exposing workers to toxic mercury vapors.@@@@1@28@@oe@2-2-2013
20744002@unknown@formal@none@1@S@The indictment charged that Pymm operated a machine to crush broken thermometers and recover the mercury in an illegal workroom.@@@@1@20@@oe@2-2-2013
20744003@unknown@formal@none@1@S@The charges said that one worker suffered permanent brain damage from mercury exposure.@@@@1@13@@oe@2-2-2013
20744004@unknown@formal@none@1@S@The judge handling the case in state Supreme Court, a trial court, had tossed out the jury verdicts, ruling that the matter should have been handled under federal Occupational Safety and Health Administration rules.@@@@1@34@@oe@2-2-2013
20744005@unknown@formal@none@1@S@But the Appellate Division of State Supreme Court held that federal law didn't pre-empt the states from such a prosecution.@@@@1@20@@oe@2-2-2013
20744006@unknown@formal@none@1@S@Elizabeth Holtzman, district attorney for Brooklyn, N.Y., said, "The appellate division has agreed with our view that despite federal worker-safety laws, state prosecutors have the power to protect working people."@@@@1@30@@oe@2-2-2013
20744007@unknown@formal@none@1@S@Lawyers for the company and executives couldn't be reached for comment.@@@@1@11@@oe@2-2-2013
20744008@unknown@formal@none@1@S@The executives face five to 15 years in prison and fines of $5,000 or double the profit made by failing to comply with the rules.@@@@1@25@@oe@2-2-2013
20744009@unknown@formal@none@1@S@The company could be fined a maximum of $10,000, or double the profit.@@@@1@13@@oe@2-2-2013
20745001@unknown@formal@none@1@S@General Motors Corp. wants to buy as much as 15% of Jaguar PLC, marking its first salvo in a possible full-scale battle against Ford Motor Co. for control of the British car maker.@@@@1@33@@oe@2-2-2013
20745002@unknown@formal@none@1@S@GM sought U.S. antitrust clearance last week to purchase more than $15 million worth of Jaguar shares but doesn't own any yet, according to GM officials here and at the company's Detroit headquarters.@@@@1@33@@oe@2-2-2013
20745003@unknown@formal@none@1@S@The No. 1 U.S. auto maker then wrote Jaguar that it intends "to go to that 15%" level once it wins the U.S. clearance to go beyond $15 million, a Jaguar spokesman said yesterday.@@@@1@34@@oe@2-2-2013
20745004@unknown@formal@none@1@S@The GM move follows Tuesday's declaration by Ford, which holds an unwelcome 12.45% stake in Jaguar, that it is prepared to bid for the entire company.@@@@1@26@@oe@2-2-2013
20745005@unknown@formal@none@1@S@GM is close to completing a friendly deal with Jaguar that is likely to involve an eventual 30% stake and joint manufacturing ventures.@@@@1@23@@oe@2-2-2013
20745006@unknown@formal@none@1@S@Speculative investors, betting on an imminent clash between Ford and GM, pushed up Jaguar's share price five pence (eight U.S. cents) to a near-record 720 pence ($11.60) in late trading on London's stock exchange yesterday.@@@@1@35@@oe@2-2-2013
20745007@unknown@formal@none@1@S@Since Tuesday, the shares have gained nearly 4%.@@@@1@8@@oe@2-2-2013
20745008@unknown@formal@none@1@S@But an all-out bidding war between the world's top auto giants for Britain's leading luxury-car maker seems unlikely.@@@@1@18@@oe@2-2-2013
20745009@unknown@formal@none@1@S@"We will not go over a certain level," said David N. McCammon, Ford's vice president for finance, at a news conference yesterday in Dearborn, Mich.@@@@1@25@@oe@2-2-2013
20745010@unknown@formal@none@1@S@"There's some price at which we'd stop bidding."@@@@1@8@@oe@2-2-2013
20745011@unknown@formal@none@1@S@He wouldn't specify what it was.@@@@1@6@@oe@2-2-2013
20745012@unknown@formal@none@1@S@And powerful political pressures may convince the Conservative government to keep its so-called golden share, which limits any individual holding to 15%, until the restriction expires on Dec. 31, 1990.@@@@1@30@@oe@2-2-2013
20745013@unknown@formal@none@1@S@"I really don't see the government doing something that Jaguar doesn't want over the next 14 months," said Kenneth Warren, a Conservative member of Parliament and chairman of the Select Committee on Trade and Industry in Britain's House of Commons.@@@@1@40@@oe@2-2-2013
20745014@unknown@formal@none@1@S@"The golden share is a single share, but it is the magic share."@@@@1@13@@oe@2-2-2013
20745015@unknown@formal@none@1@S@The government retained the single share after selling its stake in Jaguar in 1984 -- part of a nationalistic practice of protecting former government-owned enterprises to deflect criticism of privatization.@@@@1@30@@oe@2-2-2013
20745016@unknown@formal@none@1@S@The 15% restriction covers any would-be suitor, British or foreign.@@@@1@10@@oe@2-2-2013
20745017@unknown@formal@none@1@S@Ford is willing to bid for 100% of Jaguar's shares if both the government and Jaguar shareholders agree to relax the anti-takeover barrier prematurely.@@@@1@24@@oe@2-2-2013
20745018@unknown@formal@none@1@S@As Jaguar's biggest holder and Britain's biggest car maker, Ford could turn up the heat by convening a special shareholders' meeting and urging holders to drop the limits early.@@@@1@29@@oe@2-2-2013
20745019@unknown@formal@none@1@S@Ford might succeed because many shareholders are speculators keen for a full bid or institutional investors unhappy over Jaguar management's handling of its current financial difficulties.@@@@1@26@@oe@2-2-2013
20745020@unknown@formal@none@1@S@The government probably wouldn't give in readily to a hostile foray by Ford, however.@@@@1@14@@oe@2-2-2013
20745021@unknown@formal@none@1@S@It has relinquished a golden share only once before -- during British Petroleum Co.'s #2.5 billion ($4 billion) takeover of Britoil PLC in 1988.@@@@1@24@@oe@2-2-2013
20745022@unknown@formal@none@1@S@In wooing British lawmakers, GM has pointed out that its willingness to settle for a minority stake would keep Jaguar British-owned and independent.@@@@1@23@@oe@2-2-2013
20745023@unknown@formal@none@1@S@This week, the U.S. auto giant paid for 10 House of Commons members and two House of Lords members to fly to Detroit and tour its operations there.@@@@1@28@@oe@2-2-2013
20745024@unknown@formal@none@1@S@While the visit was unrelated to Jaguar, GM Chairman Roger Smith answered the legislators' questions about it over lunch Tuesday.@@@@1@20@@oe@2-2-2013
20745025@unknown@formal@none@1@S@He said Jaguar "shouldn't be smothered by anyone else," recalled one participant.@@@@1@12@@oe@2-2-2013
20745026@unknown@formal@none@1@S@Politics also influences the government's thinking on the anti-takeover restriction.@@@@1@10@@oe@2-2-2013
20745027@unknown@formal@none@1@S@The Conservatives don't dare jeopardize marginal Tory seats in Coventry, where Jaguar has headquarters, nor can the government easily back down on promised protection for a privatized company while it proceeds with controversial plans to privatize most of Britain's water and electricity industries.@@@@1@43@@oe@2-2-2013
20745028@unknown@formal@none@1@S@Prime Minister Margaret Thatcher might, however, be receptive to any request by Jaguar Chairman Sir John Egan for the restriction's early removal to let GM amass more than 15% or mount a friendly suitor bid against Ford.@@@@1@37@@oe@2-2-2013
20745029@unknown@formal@none@1@S@In the end, Sir John -- rather than the government or Jaguar shareholders -- may hold the key that unlocks the golden share.@@@@1@23@@oe@2-2-2013
20746001@unknown@formal@none@1@S@Swedish rolling-steel and ball-bearing group AB SKF said its pretax profit rose 78% to 1.78 billion kronor ($278 million) in the first nine months from one billion kronor ($156 million) in the corresponding period a year earlier.@@@@1@37@@oe@2-2-2013
20746002@unknown@formal@none@1@S@SKF said sales increased 17% to 18.46 billion kronor from 15.72 billion.@@@@1@12@@oe@2-2-2013
20746003@unknown@formal@none@1@S@Earnings per share were 10.35 kronor compared with 5.80 kronor.@@@@1@10@@oe@2-2-2013
20746004@unknown@formal@none@1@S@SKF said demand for the group's main product, rolling bearings, remained favorable in Europe, which accounts for slightly more than two-thirds of group sales.@@@@1@24@@oe@2-2-2013
20746005@unknown@formal@none@1@S@Latin American markets continued their recovery after a weak start to the year, SKF said.@@@@1@15@@oe@2-2-2013
20746006@unknown@formal@none@1@S@The company said the situation in the U.S. is still uncertain as reduced production in the country's automotive industry has resulted in weakened demand for rolling bearings.@@@@1@27@@oe@2-2-2013
20746007@unknown@formal@none@1@S@Analysts said SKF's results for the first nine months lived up to market expectations as brokerage firms had predicted a pretax profit of 1.74 billion to 1.86 billion kronor.@@@@1@29@@oe@2-2-2013
20746008@unknown@formal@none@1@S@The three business areas engaged in rolling bearing operations continued to show favorable sales development.@@@@1@15@@oe@2-2-2013
20746009@unknown@formal@none@1@S@Sales of rolling bearings increased 19% to 15.7 billion kronor from 13.2 billion kronor in the corresponding period the previous year.@@@@1@21@@oe@2-2-2013
20747001@unknown@formal@none@1@S@We read with interest Robert Tomsho's Sept. 28 page-one article on Robert Redford ("The Sundance Kid Gets Little Respect Around Sundance").@@@@1@21@@oe@2-2-2013
20747002@unknown@formal@none@1@S@Misunderstanding conversations with us, Mr. Tomsho argued that Mr. Redford's environmental views are at odds with Utah residents.@@@@1@18@@oe@2-2-2013
20747003@unknown@formal@none@1@S@This may have been true 10 years ago, but times have changed, even in Utah.@@@@1@15@@oe@2-2-2013
20747004@unknown@formal@none@1@S@Mr. Redford no longer stands out as an extremist.@@@@1@9@@oe@2-2-2013
20747005@unknown@formal@none@1@S@He has not changed, but those around him have.@@@@1@9@@oe@2-2-2013
20747006@unknown@formal@none@1@S@Many of his views on the protection of wilderness areas, rivers and canyons are now embraced by mainstream, conservative Utahans.@@@@1@20@@oe@2-2-2013
20747007@unknown@formal@none@1@S@Recently, some 60 environmental and outdoor groups representing such divergent points of view as the Sierra Club, the League of Women Voters and the National Rifle Association joined together to request a reassessment of the environmentally unsound Central Utah Project.@@@@1@40@@oe@2-2-2013
20747008@unknown@formal@none@1@S@While Utah is not yet a haven for environmentalism, public views toward the environment have significantly improved.@@@@1@17@@oe@2-2-2013
20747009@unknown@formal@none@1@S@In one of the most conservative, Republican states in the entire nation, the greening of Robert Redford's neighbors is the real story that Mr. Tomsho missed.@@@@1@26@@oe@2-2-2013
20747010@unknown@formal@none@1@S@Sammye Meadows Sam Rushforth Gary Bryner Heber City, Utah@@@@1@9@@oe@2-2-2013
20747011@unknown@formal@none@1@S@If Mr. Redford wanted to be accepted by the people of Utah, he should have taken an advisory role instead of one of forcing his personal preferences.@@@@1@27@@oe@2-2-2013
20747012@unknown@formal@none@1@S@Furthermore, his actions imply that it is too damaging or costly for society to provide jobs through power-plant construction, coal mining or to build roads for public safety because of the adverse impact on the environment, but it is just fine and dandy for him to transform a mountain high in the Wasatch Range into a ski resort.@@@@1@58@@oe@2-2-2013
20747013@unknown@formal@none@1@S@It astounds me he can rationalize his self-righteous and greedy actions in Utah.@@@@1@13@@oe@2-2-2013
20747014@unknown@formal@none@1@S@An excellent environmental actor he is.@@@@1@6@@oe@2-2-2013
20747015@unknown@formal@none@1@S@David Vranian M.B.A. Student University of Colorado Boulder, Colo.@@@@1@9@@oe@2-2-2013
20747016@unknown@formal@none@1@S@Mr. Redford, like it or not, is like a braking system on a runaway truck, kind of slowing it down into control.@@@@1@22@@oe@2-2-2013
20747017@unknown@formal@none@1@S@He's rich, famous and intelligent, and has the time to do something that not even the federal government will do.@@@@1@20@@oe@2-2-2013
20747018@unknown@formal@none@1@S@Mr. Redford is slowing down a mindless, speeding maniac known as the progress of mankind.@@@@1@15@@oe@2-2-2013
20747019@unknown@formal@none@1@S@Personally, I'm glad there are people like him around to slow down the profit takers, and those who are in such a blind hurry for something that may appear to benefit them in the immediate future, not caring about the long-range implications.@@@@1@42@@oe@2-2-2013
20747020@unknown@formal@none@1@S@Ron Dyer@@@@1@2@@oe@2-2-2013
20748001@unknown@formal@none@1@S@When President Bush travels to Costa Rica today, he'll go with little of the fanfare that accompanies many of his foreign travels.@@@@1@22@@oe@2-2-2013
20748002@unknown@formal@none@1@S@But the two-day trip still has managed to fuel controversy over his administration's policies in Central America.@@@@1@17@@oe@2-2-2013
20748003@unknown@formal@none@1@S@Some conservatives say Mr. Bush shouldn't make the trip, during which he will participate in Costa Rica's celebration of 100 years of democracy.@@@@1@23@@oe@2-2-2013
20748004@unknown@formal@none@1@S@These critics object to Mr. Bush's participation in a meeting that includes Nicaraguan President Daniel Ortega among the guests.@@@@1@19@@oe@2-2-2013
20748005@unknown@formal@none@1@S@In addition, they argue he won't help Washington's standing in the region by trumpeting the U.S. commitment to democracy less than a month after his administration played an ineffectual role in the failed coup attempt in Panama.@@@@1@37@@oe@2-2-2013
20748006@unknown@formal@none@1@S@"I believe it will do more damage than good because it will legitimize people like Daniel Ortega," says Curtin Windsor, who served as U.S. ambassador to Costa Rica during the Reagan administration.@@@@1@32@@oe@2-2-2013
20748007@unknown@formal@none@1@S@Mr. Windsor, among other analysts connected to the conservative Heritage Foundation, fears the gathering of 18 leaders, mostly from Central American nations, will force Mr. Bush "to explain and redeem himself" in the wake of charges that the U.S. failed to do enough to aid the removal of Panamanian dictator Manuel Noriega.@@@@1@52@@oe@2-2-2013
20748008@unknown@formal@none@1@S@At the same time, liberal and moderate Democrats note the irony of Mr. Bush's joining a celebration of Costa Rican democracy at a time his administration has sought sharp cuts in U.S. aid to the tiny country.@@@@1@37@@oe@2-2-2013
20748009@unknown@formal@none@1@S@The administration proposed only $57 million in so-called economic support funds for Costa Rica this year, down from the $90 million the U.S. provided last year.@@@@1@26@@oe@2-2-2013
20748010@unknown@formal@none@1@S@The administration said improvements in Costa Rica's economic condition warrant the cut in aid, which the country uses mainly to make payments on its $4.5 billion foreign debt.@@@@1@28@@oe@2-2-2013
20748011@unknown@formal@none@1@S@But Costa Rican officials argue that the recent drop in coffee prices, combined with the country's continuing struggle to reinvigorate its economy, make the support as necessary as ever.@@@@1@29@@oe@2-2-2013
20748012@unknown@formal@none@1@S@"We are crossing the river and we need a little more help to get to the other side," said Rodrigo Sotela, an economic affairs specialist at the Costa Rican Embassy in Washington.@@@@1@32@@oe@2-2-2013
20748013@unknown@formal@none@1@S@Democrats argue that Costa Rica deserves more assistance for the same reason that Mr. Bush is attending the celebration this weekend: to reward the country for its stability in a region wracked with turmoil and for its efforts to promote peace in Nicaragua.@@@@1@43@@oe@2-2-2013
20748014@unknown@formal@none@1@S@However, peace efforts by Costa Rican President Oscar Arias haven't always helped the country's cause in Washington.@@@@1@17@@oe@2-2-2013
20748015@unknown@formal@none@1@S@Mr. Arias's long-time refusal to support the U.S.'s campaign against leftist Nicaragua earned him the ire of the Reagan White House.@@@@1@21@@oe@2-2-2013
20748016@unknown@formal@none@1@S@And more recently, he insisted on signing a five-nation agreement intended to disarm Nicaragua's U.S.-backed Contra rebels faster than the Bush administration would prefer.@@@@1@24@@oe@2-2-2013
20748017@unknown@formal@none@1@S@"I think Bush's going there is a helpful sign," said Sen. Terry Sanford (D., N.C.) a member of the Foreign Relations Committee who pushed to provide Costa Rica about the same amount of aid as it received last year.@@@@1@39@@oe@2-2-2013
20748018@unknown@formal@none@1@S@Lawmakers in both houses support the higher level.@@@@1@8@@oe@2-2-2013
20748019@unknown@formal@none@1@S@Administration officials defend Mr. Bush's decision to make the trip.@@@@1@10@@oe@2-2-2013
20748020@unknown@formal@none@1@S@While they acknowledge the president will attend several meals and a working session also attended by Mr. Ortega, they insist that Mr. Bush won't be extending the Nicaraguan leader any special courtesies.@@@@1@32@@oe@2-2-2013
20748021@unknown@formal@none@1@S@The administration also made clear its continuing distate for the leftist Nicaraguan government in recent days, endorsing a package of electoral aid to the Nicaraguan opposition, renewing the U.S. trade embargo against the country and continuing to complain that the country supports rebel groups in the region.@@@@1@47@@oe@2-2-2013
20748022@unknown@formal@none@1@S@Officials also insist Mr. Bush will use the trip to highlight his own initiatives for pushing democracy in the region, fighting illegal drugs and assisting the less developed countries.@@@@1@29@@oe@2-2-2013
20748023@unknown@formal@none@1@S@"Let me say there is a symbolic component to this trip," Secretary of State James Baker told reporters Wednesday.@@@@1@19@@oe@2-2-2013
20748024@unknown@formal@none@1@S@"There won't be any formal resolutions or communiques, I don't think.@@@@1@11@@oe@2-2-2013
20748025@unknown@formal@none@1@S@But we still see this as an opportunity to discuss many, many very important issues.@@@@1@15@@oe@2-2-2013
20749001@unknown@formal@none@1@S@In 1987, the Presidents Commission of the NCAA, which oversees most U.S. intercollegiate sports, contracted with the Washington-based American Institutes for Research to do a survey on the college experiences of what the body chooses to call student-athletes.@@@@1@38@@oe@2-2-2013
20749002@unknown@formal@none@1@S@A brief "executive summary" was issued last April, and attracted some, but not much, attention.@@@@1@15@@oe@2-2-2013
20749003@unknown@formal@none@1@S@More-detailed reports followed, and attracted even less notice.@@@@1@8@@oe@2-2-2013
20749004@unknown@formal@none@1@S@I suspect I may be one of the few people to have read them all.@@@@1@15@@oe@2-2-2013
20749005@unknown@formal@none@1@S@The sixth and last report now is out, and it puts the effort in perspective.@@@@1@15@@oe@2-2-2013
20749006@unknown@formal@none@1@S@Titled "Comments From Students," it focuses on the real shame of college sports: what happens to young athletes once they enter academe.@@@@1@22@@oe@2-2-2013
20749007@unknown@formal@none@1@S@It's little less than a cry for help from those who make the costly show possible.@@@@1@16@@oe@2-2-2013
20749008@unknown@formal@none@1@S@The previous five reports were mainly statistical, but clear enough in outline.@@@@1@12@@oe@2-2-2013
20749009@unknown@formal@none@1@S@They showed that participants in Division I football and men's basketball, the big-time "revenue sports," entered school with poorer high-school grades and test scores than "minor-sport" jocks and students who participated in other extracurricular activities, and they got lower grades once they got there, at least partly because of the athletic demands placed on them.@@@@1@55@@oe@2-2-2013
20749010@unknown@formal@none@1@S@The football and basketball players spent more time on their sports in season than they did on class attendance and homework combined (30 hours a week versus 25.3).@@@@1@28@@oe@2-2-2013
20749011@unknown@formal@none@1@S@Almost half (49.8%) reported suffering "mental abuse" from coaches, and almost one-quarter (24.8%) said they had been pressured to ignore injuries.@@@@1@21@@oe@2-2-2013
20749012@unknown@formal@none@1@S@But even those numbers don't describe the situation as well as the athletes do in their own words.@@@@1@18@@oe@2-2-2013
20749013@unknown@formal@none@1@S@The composite portrait that emerges isn't of a pampered jock marking time until he can land a seven-figure pro contract -- he's part of a tiny minority.@@@@1@27@@oe@2-2-2013
20749014@unknown@formal@none@1@S@Rather, it's of a kid (we're talking about 17 to 22 year olds here) having a tough time making the best of what will probably be his one shot at college.@@@@1@31@@oe@2-2-2013
20749015@unknown@formal@none@1@S@The pertinent question, coming at the end of a lengthy, confidential questionnaire, was this: "Are there things about your college life you would like to tell us that we didn't ask about?"@@@@1@32@@oe@2-2-2013
20749016@unknown@formal@none@1@S@Of the almost 3,000 athletes surveyed, 1,240 took the time to respond.@@@@1@12@@oe@2-2-2013
20749017@unknown@formal@none@1@S@Here are a few of their answers: -- "They say that I am a student-athlete, but really I'm an athlete-student.@@@@1@20@@oe@2-2-2013
20749018@unknown@formal@none@1@S@They lied to me on the recruiting trip.@@@@1@8@@oe@2-2-2013
20749019@unknown@formal@none@1@S@Football is the No. 1 thing here".@@@@1@7@@oe@2-2-2013
20749020@unknown@formal@none@1@S@-- Junior football player.@@@@1@4@@oe@2-2-2013
20749021@unknown@formal@none@1@S@-- "Being a student-athlete at college is a lot different from high school.@@@@1@13@@oe@2-2-2013
20749022@unknown@formal@none@1@S@First, the sport you play is no longer a game -- it becomes a job.@@@@1@15@@oe@2-2-2013
20749023@unknown@formal@none@1@S@Your coaches demand a lot more out of you even though some of them are not willing to take the time to watch you progress.@@@@1@25@@oe@2-2-2013
20749024@unknown@formal@none@1@S@You become expendable.@@@@1@3@@oe@2-2-2013
20749025@unknown@formal@none@1@S@Your interest is not taken to heart because people only care about your performance".@@@@1@14@@oe@2-2-2013
20749026@unknown@formal@none@1@S@-- Freshman basketball player.@@@@1@4@@oe@2-2-2013
20749027@unknown@formal@none@1@S@-- "The coaches should have a more personal and sympathetic attitude toward the athletes -- not treat us like pieces of meat.@@@@1@22@@oe@2-2-2013
20749028@unknown@formal@none@1@S@They always say to get a degree first, but they don't allow us time or to skip practice to study for a test.@@@@1@23@@oe@2-2-2013
20749029@unknown@formal@none@1@S@They just want to get their job done at any cost to the athlete".@@@@1@14@@oe@2-2-2013
20749030@unknown@formal@none@1@S@-- Freshman football player.@@@@1@4@@oe@2-2-2013
20749031@unknown@formal@none@1@S@-- "The pressure put on us to win at all times has resulted in physical violence, such as punching and slapping by coaches.@@@@1@23@@oe@2-2-2013
20749032@unknown@formal@none@1@S@Some days the coaches make you feel as though you are part of a large herd of animals.@@@@1@18@@oe@2-2-2013
20749033@unknown@formal@none@1@S@In other words, they treat you like a piece of meat".@@@@1@11@@oe@2-2-2013
20749034@unknown@formal@none@1@S@-- Sophomore football player.@@@@1@4@@oe@2-2-2013
20749035@unknown@formal@none@1@S@-- "Playing intercollegiate sports doesn't give you a lot of time to spend with others.@@@@1@15@@oe@2-2-2013
20749036@unknown@formal@none@1@S@We are almost left out of {campus} social activities.@@@@1@9@@oe@2-2-2013
20749037@unknown@formal@none@1@S@This mostly happens because we go from football in the fall to lifting in the winter to football again in the spring".@@@@1@22@@oe@2-2-2013
20749038@unknown@formal@none@1@S@-- Freshman football player.@@@@1@4@@oe@2-2-2013
20749039@unknown@formal@none@1@S@-- "You talk about free time -- .what free time?@@@@1@10@@oe@2-2-2013
20749040@unknown@formal@none@1@S@Time to relax and enjoy ourselves is always taken up by something to do with football (meetings, lifting weights, conditioning or films).@@@@1@22@@oe@2-2-2013
20749041@unknown@formal@none@1@S@There is no recovery period -- it's go, go, go.@@@@1@10@@oe@2-2-2013
20749042@unknown@formal@none@1@S@ABUSE to our bodies is overwhelming.@@@@1@6@@oe@2-2-2013
20749043@unknown@formal@none@1@S@With our schedule, it's hard to sleep well knowing what is going to happen the next day".@@@@1@17@@oe@2-2-2013
20749044@unknown@formal@none@1@S@-- Junior football player.@@@@1@4@@oe@2-2-2013
20749045@unknown@formal@none@1@S@-- "Physical exhaustion and depression are common in my life and in some of my teammates' lives".@@@@1@17@@oe@2-2-2013
20749046@unknown@formal@none@1@S@-- Football player, class unspecified.@@@@1@5@@oe@2-2-2013
20749047@unknown@formal@none@1@S@-- "More often than not, college athletes go through college never really experiencing collegiate life to the fullest.@@@@1@18@@oe@2-2-2013
20749048@unknown@formal@none@1@S@One has to establish one's own identity away from athletics and make athletics only a part, not a whole, of the student-athlete's life".@@@@1@23@@oe@2-2-2013
20749049@unknown@formal@none@1@S@-- Sophomore basketball player.@@@@1@4@@oe@2-2-2013
20749050@unknown@formal@none@1@S@-- "Somehow, and I don't know how, the game needs to be played for fun again, and not for the big bowl revenues or lucrative TV contracts".@@@@1@27@@oe@2-2-2013
20749051@unknown@formal@none@1@S@-- Graduate-student football player.@@@@1@4@@oe@2-2-2013
20749052@unknown@formal@none@1@S@There have been rumblings that, at long last, changes may be in the works.@@@@1@14@@oe@2-2-2013
20749053@unknown@formal@none@1@S@The Knight Foundation, of Akron, Ohio, has established a national commission to look into college-sports reform, and the NCAA Presidents Commission earlier this month recommended cutting spring football practice in half, moving the start of basketball practice back by a month and reducing maximum schedules in that sport to 25 games from 28.@@@@1@53@@oe@2-2-2013
20749054@unknown@formal@none@1@S@The key word in that paragraph, though, is "may."@@@@1@9@@oe@2-2-2013
20749055@unknown@formal@none@1@S@NCAA Executive Director Richard Schultz, in accepting a place on the Knight Commission, urged that the panel take a "balanced" view, which looks for all the world like a plea not to rock the boat too much, and the presidents' recommendations could face considerable opposition at the NCAA's full convention in January, which will vote on them.@@@@1@57@@oe@2-2-2013
20749056@unknown@formal@none@1@S@I read that one unnamed athletics director predicted that the basketball-cutback proposal could fail because of "real world" (i.e., economic) considerations.@@@@1@21@@oe@2-2-2013
20749057@unknown@formal@none@1@S@But the "real world" also includes the unpleasant truth that colleges are cheating the athletes they have wooed and won.@@@@1@20@@oe@2-2-2013
20749058@unknown@formal@none@1@S@If they won't change their ways voluntarily, maybe somebody bigger -- Congress -- should make them.@@@@1@16@@oe@2-2-2013
20750001@unknown@formal@none@1@S@They want late-night shuttles to the biology labs.@@@@1@8@@oe@2-2-2013
20750002@unknown@formal@none@1@S@They want a 24-hour library.@@@@1@5@@oe@2-2-2013
20750003@unknown@formal@none@1@S@And like college radicals everywhere, they are talking about a demonstration -- where protesters would gather quietly near the science building and raise their hands, classroom style.@@@@1@27@@oe@2-2-2013
20750004@unknown@formal@none@1@S@Such is the fiber of the wool that woolly intellectuals let fly at gatherings of Harvard University's new Society of Nerds and Geeks, or SONG.@@@@1@25@@oe@2-2-2013
20750005@unknown@formal@none@1@S@SONGsters are mad as heck about campus anti-intellectualism and they aren't going to take it anymore, at least not without trying a few really neat ideas first.@@@@1@27@@oe@2-2-2013
20750006@unknown@formal@none@1@S@"We could have called ourselves the Academic Intellectual Society, but then everyone would have said, `Oh, you mean the nerd-and-geek club,'" Leonid Fridman, SONG's graduate-student adviser, told 19 attendees at the club's inaugural meeting earlier this month.@@@@1@37@@oe@2-2-2013
20750007@unknown@formal@none@1@S@Membership has since swelled to between 20 and 25.@@@@1@9@@oe@2-2-2013
20750008@unknown@formal@none@1@S@Some people may think of nerds as calculator-toting, socially awkward individuals with shirt-pocket liners for their pencils and a preoccupation with computers and matters numerical.@@@@1@25@@oe@2-2-2013
20750009@unknown@formal@none@1@S@Geeks, by at least one definition, are chicken-mutilating circus freaks.@@@@1@10@@oe@2-2-2013
20750010@unknown@formal@none@1@S@But SONG founder Jeremy Kahn, a Harvard junior, thinks of nerds and geeks more as "nonconformists," albeit with a studious bent.@@@@1@21@@oe@2-2-2013
20750011@unknown@formal@none@1@S@One of the group's first projects is a "procrastination hot line" that students could call when they have an urge to delay studying.@@@@1@23@@oe@2-2-2013
20750012@unknown@formal@none@1@S@The club plans to show nerdy movies, such as "Real Genius," in which physics whizzes pop corn with lasers; and naturally, the "Revenge of the Nerds," a tale of college males with runny noses and ill-fitting pants.@@@@1@37@@oe@2-2-2013
20750013@unknown@formal@none@1@S@One of its "more ambitious goals" is to get Jaime Escalante, the Los Angeles high-school mathematics teacher featured in the film "Stand and Deliver," to come to Harvard for a guest lecture.@@@@1@32@@oe@2-2-2013
20750014@unknown@formal@none@1@S@Nerds and geeks sometimes find themselves a bit isolated at Harvard.@@@@1@11@@oe@2-2-2013
20750015@unknown@formal@none@1@S@So Mr. Kahn says high priority is being given to creating a computerized matchmaking service "where instead of being matched for eye color, you could be matched for similar intellectual interests."@@@@1@31@@oe@2-2-2013
20750016@unknown@formal@none@1@S@For instance?@@@@1@2@@oe@2-2-2013
20750017@unknown@formal@none@1@S@"I'm a math major, but I want to know about psychobiology.@@@@1@11@@oe@2-2-2013
20750018@unknown@formal@none@1@S@Hopefully, I'd find someone in psychobiology who wanted to know more about mathematics."@@@@1@13@@oe@2-2-2013
20750019@unknown@formal@none@1@S@It could work.@@@@1@3@@oe@2-2-2013
20750020@unknown@formal@none@1@S@Meanwhile, finding a volunteer to write the computer program isn't a problem.@@@@1@12@@oe@2-2-2013
20751001@unknown@formal@none@1@S@Dime Savings Bank of New York was cleared by the Federal Deposit Insurance Corp. to acquire Starpointe Savings Bank of Somerset, N.J., the banks said.@@@@1@25@@oe@2-2-2013
20751002@unknown@formal@none@1@S@Starpointe holders, who approved the plan last April, will receive $21 in cash a share, or a total $63 million.@@@@1@20@@oe@2-2-2013
20751003@unknown@formal@none@1@S@The FDIC cleared the move yesterday, and the banks must wait at least 30 days before closing the purchase.@@@@1@19@@oe@2-2-2013
20751004@unknown@formal@none@1@S@A closing date hasn't been set.@@@@1@6@@oe@2-2-2013
20752001@unknown@formal@none@1@S@AEP INDUSTRIES Inc. directors authorized a 3-for-2 split of the common, payable Dec. 7 to stock of record Nov. 22.@@@@1@20@@oe@2-2-2013
20752002@unknown@formal@none@1@S@The split was aimed at boosting the stock's liquidity, said Brendan Barba, chairman of the Moonachie, N.J., maker of plastic film products.@@@@1@22@@oe@2-2-2013
20752003@unknown@formal@none@1@S@After the split, the company will have more than 4.7 million shares outstanding.@@@@1@13@@oe@2-2-2013
20752004@unknown@formal@none@1@S@In national over-the-counter trading yesterday, AEP shares closed at $21.25, down 50 cents.@@@@1@13@@oe@2-2-2013
20753001@unknown@formal@none@1@S@CRESTMONT FEDERAL SAVINGS & LOAN ASSOCIATION (Edison, N.J.) --@@@@1@9@@oe@2-2-2013
20753002@unknown@formal@none@1@S@Lawrence B. Seidman, 41 years old, was named chairman of this savings and loan institution.@@@@1@15@@oe@2-2-2013
20753003@unknown@formal@none@1@S@He will succeed Charles L. Harrington, chairman and chief executive officer, who retired last month.@@@@1@15@@oe@2-2-2013
20753004@unknown@formal@none@1@S@Crestmont is conducting a search for a chief executive.@@@@1@9@@oe@2-2-2013
20753005@unknown@formal@none@1@S@Mr. Seidman, a director of Crestmont since July, is general partner of Seidman Financial Associates, which owns 9.89% of Crestmont.@@@@1@20@@oe@2-2-2013
20754001@unknown@formal@none@1@S@William J. Russo was named senior vice president, public affairs and advertising, for this financial and travel services concern's American Express Bank Ltd. subsidiary.@@@@1@24@@oe@2-2-2013
20754002@unknown@formal@none@1@S@Mr. Russo, 38 years old, previously was first vice president, public affairs and advertising, at the banking unit.@@@@1@18@@oe@2-2-2013
20755001@unknown@formal@none@1@S@Environmental concerns are beginning to have as much influence in oil-industry spending plans as the price of crude does.@@@@1@19@@oe@2-2-2013
20755002@unknown@formal@none@1@S@In the wake of the Exxon Valdez spill in March, new governmental drilling bans are sharply curtailing exploration in promising locations offshore and in Alaska.@@@@1@25@@oe@2-2-2013
20755003@unknown@formal@none@1@S@At the same time, moves toward tighter air-quality standards are spurring interest in lighter or alternative fuels that don't pollute as much as fuel refined from "heavy" crudes, generally high in sulfur.@@@@1@32@@oe@2-2-2013
20755004@unknown@formal@none@1@S@Over the years, the world's stream of oil has been growing heavier.@@@@1@12@@oe@2-2-2013
20755005@unknown@formal@none@1@S@So the scramble is on for lighter crudes globally, and for natural gas in the U.S.@@@@1@16@@oe@2-2-2013
20755006@unknown@formal@none@1@S@Recently Saudi Arabia and Venezuela, traditional heavy-crude producers, have boasted of new finds of light, low-sulfur oil by their national oil companies.@@@@1@22@@oe@2-2-2013
20755007@unknown@formal@none@1@S@Venezuela has also earmarked $200 million in new money for light-crude exploration.@@@@1@12@@oe@2-2-2013
20755008@unknown@formal@none@1@S@And some oil companies are trying to lock in future supplies.@@@@1@11@@oe@2-2-2013
20755009@unknown@formal@none@1@S@Typical is Ente Nazionale Idrocarburi, Italy's state-owned energy company, which not long ago acquired through its AGIP oil subsidiary a 5% share in the consortium accounting for half of Nigeria's oil output.@@@@1@32@@oe@2-2-2013
20755010@unknown@formal@none@1@S@AGIP already has an oil stake in Libya.@@@@1@8@@oe@2-2-2013
20755011@unknown@formal@none@1@S@Both countries produce high-quality, low-sulfur crudes especially suited to making high-octane motor fuel at minimum refining cost.@@@@1@17@@oe@2-2-2013
20755012@unknown@formal@none@1@S@Franco Reviglio, ENI chairman, looks for sweeping structural change in the oil industry -- he calls it a "revolution" requiring huge investments -- as a result of environmental issues.@@@@1@29@@oe@2-2-2013
20755013@unknown@formal@none@1@S@He made a special trip to examine U.S. environmental trends because they are often followed in Europe.@@@@1@17@@oe@2-2-2013
20755014@unknown@formal@none@1@S@ENI needs to know what's coming as it prepares to spend some $1.3 billion on upgrading its refineries, he says.@@@@1@20@@oe@2-2-2013
20755015@unknown@formal@none@1@S@Oil companies world-wide will have "to spend a lot of money for the cleaner fuels that will be required," says John H. Lichtblau, the president of the Petroleum Industry Research Foundation.@@@@1@31@@oe@2-2-2013
20755016@unknown@formal@none@1@S@It will go for work ranging from refinery modification to changes in the distribution system, including the way service stations pump fuel into cars.@@@@1@24@@oe@2-2-2013
20755017@unknown@formal@none@1@S@In the U.S., the search for oil had been headed toward environmentally sensitive areas believed to have vast reserves.@@@@1@19@@oe@2-2-2013
20755018@unknown@formal@none@1@S@Alaska's Arctic National Wildlife Refuge alone is thought to hide more than three billion barrels of oil.@@@@1@17@@oe@2-2-2013
20755019@unknown@formal@none@1@S@Until the tanker spill, Big Oil was slowly convincing authorities it could safely produce from such places.@@@@1@17@@oe@2-2-2013
20755020@unknown@formal@none@1@S@Now the wildlife refuge has been closed to the industry, possibly for years.@@@@1@13@@oe@2-2-2013
20755021@unknown@formal@none@1@S@Similarly, a group of companies led by Chevron Corp. has been unable to pump oil found off the California coast in the early 1980s.@@@@1@24@@oe@2-2-2013
20755022@unknown@formal@none@1@S@A huge production system built in the sea off Santa Barbara and ashore is sitting idle.@@@@1@16@@oe@2-2-2013
20755023@unknown@formal@none@1@S@But the push for cleaner fuels is increasing the attractiveness of natural gas.@@@@1@13@@oe@2-2-2013
20755024@unknown@formal@none@1@S@More than half the domestic drilling now under way is for gas, partly on the assumption that demand will rise for a fuel that is cleaner to burn than either oil or coal.@@@@1@33@@oe@2-2-2013
20755025@unknown@formal@none@1@S@Activity has revived in the largest U.S. gas-producing regions, such as the Gulf of Mexico.@@@@1@15@@oe@2-2-2013
20755026@unknown@formal@none@1@S@Santa Fe International Corp., which is owned by Kuwait (and isn't related to Santa Fe Southern Pacific's unit), is stepping up development of a well off Texas' Matagorda Island where it found gas in 1987.@@@@1@35@@oe@2-2-2013
20755027@unknown@formal@none@1@S@"We could have sat on it longer, but the impetus is to get the gas to the marketplace," says Richard Poole, senior scout for Santa Fe International.@@@@1@27@@oe@2-2-2013
20755028@unknown@formal@none@1@S@"We're trying to get it on line as soon as possible now."@@@@1@12@@oe@2-2-2013
20755029@unknown@formal@none@1@S@This month, Exxon Corp. announced plans for a 400-day project drilling for gas about five miles underground in the Anadarko Basin of western Oklahoma -- the deepest drilling project in the U.S.@@@@1@32@@oe@2-2-2013
20755030@unknown@formal@none@1@S@Exxon will use a Parker Drilling Co. rig built in 1981 that can go down 9 1/2 miles.@@@@1@18@@oe@2-2-2013
20756001@unknown@formal@none@1@S@As the Soviet Union grapples with its worsening economy, leading reformers have drawn up a blueprint for change designed to push the nation much closer to a free-market system.@@@@1@29@@oe@2-2-2013
20756002@unknown@formal@none@1@S@The proposals go far beyond the current and rather confused policies of perestroika, Mikhail Gorbachev's restructuring of the economy.@@@@1@19@@oe@2-2-2013
20756003@unknown@formal@none@1@S@They lay out a clear timetable and methodology for liberalizing the system of setting prices, breaking up huge industrial monopolies and putting unprofitable state-owned companies out of business.@@@@1@28@@oe@2-2-2013
20756004@unknown@formal@none@1@S@They also address such taboo subjects as the likelihood of unemployment and high inflation, and recommend ways to soften the social consequences.@@@@1@22@@oe@2-2-2013
20756005@unknown@formal@none@1@S@While many solutions to the nation's economic troubles are being discussed, the blueprint is attracting widespread attention here because of its comprehensiveness and presumed high-level authorship.@@@@1@26@@oe@2-2-2013
20756006@unknown@formal@none@1@S@Although it was published unsigned in the latest edition of the weekly Ekonomicheskaya Gazeta, Soviet sources say the article was written by Leonid Abalkin and a small group of colleagues.@@@@1@30@@oe@2-2-2013
20756007@unknown@formal@none@1@S@Mr. Abalkin, head of the Academy of Science's Institute of Economics, was recently appointed deputy chairman of the Soviet government and head of a state commission on economic reform.@@@@1@29@@oe@2-2-2013
20756008@unknown@formal@none@1@S@"It's clearly a manifesto for the next stage of perestroika," said one analyst.@@@@1@13@@oe@2-2-2013
20756009@unknown@formal@none@1@S@The economic ideas in the document are much bolder than current policies.@@@@1@12@@oe@2-2-2013
20756010@unknown@formal@none@1@S@For example, the proposed overhaul of prices -- an extremely sensitive political topic -- is far more precise than the vague plans announced by Mr. Gorbachev in 1987 and later dropped.@@@@1@31@@oe@2-2-2013
20756011@unknown@formal@none@1@S@But the proposals also display political savvy, couching some of the most controversial ideas in cautious language so as not to alienate powerful conservatives in the government who stand to lose out if they are implemented.@@@@1@36@@oe@2-2-2013
20756012@unknown@formal@none@1@S@Seeking a middle path between opponents of change and radicals who demand overnight solutions, the article advocates what it calls a "radical-moderate approach."@@@@1@23@@oe@2-2-2013
20756013@unknown@formal@none@1@S@The document is to be discussed at a conference of leading economists late this month, and will probably be presented to the Soviet Parliament for consideration this year.@@@@1@28@@oe@2-2-2013
20756014@unknown@formal@none@1@S@As policy-makers draw up proposals for the next five-year plan, which starts in 1991, the blueprint represents a powerful first shot in what is likely to be a fierce battle over economic reform.@@@@1@33@@oe@2-2-2013
20756015@unknown@formal@none@1@S@The authors make a gloomy assessment of the economy and concede that "quick and easy paths to success simply don't exist."@@@@1@21@@oe@2-2-2013
20756016@unknown@formal@none@1@S@Instead, they map out a strategy in several phases from now until 1995.@@@@1@13@@oe@2-2-2013
20756017@unknown@formal@none@1@S@Most of the measures would probably only start to have an effect on beleaguered Soviet consumers in two to three years at the earliest.@@@@1@24@@oe@2-2-2013
20756018@unknown@formal@none@1@S@The key steps advocated include: -- PROPERTY.@@@@1@7@@oe@2-2-2013
20756019@unknown@formal@none@1@S@Rigid ideological restrictions on property ownership should be abandoned.@@@@1@9@@oe@2-2-2013
20756020@unknown@formal@none@1@S@The document proposes breaking up the monolithic system of state-owned enterprises and farms and allowing a big private sector to flourish, helped by tough anti-monopoly legislation.@@@@1@26@@oe@2-2-2013
20756021@unknown@formal@none@1@S@The economy would be thrown open to numerous types of ownership between now and 1992, including factories leased by workers or owned by shareholders, cooperatives and joint ventures.@@@@1@28@@oe@2-2-2013
20756022@unknown@formal@none@1@S@Some forms of private property would be sanctioned.@@@@1@8@@oe@2-2-2013
20756023@unknown@formal@none@1@S@Such moves would greatly reduce the power of government ministries, who now jealously guard their turf and are seen as one of the major obstacles blocking economic reform.@@@@1@28@@oe@2-2-2013
20756024@unknown@formal@none@1@S@-- FINANCES.@@@@1@2@@oe@2-2-2013
20756025@unknown@formal@none@1@S@Emergency measures would be introduced to ease the country's financial crisis, notably its $200 billion budget deficit.@@@@1@17@@oe@2-2-2013
20756026@unknown@formal@none@1@S@By the end of next year, all loss-making state enterprises would be put out of business or handed over to workers who would buy or lease them or turn them into cooperatives.@@@@1@32@@oe@2-2-2013
20756027@unknown@formal@none@1@S@Similar steps would be taken to liquidate unprofitable state and collective farms by the end of 1991.@@@@1@17@@oe@2-2-2013
20756028@unknown@formal@none@1@S@A unified system of taxation should be introduced rapidly.@@@@1@9@@oe@2-2-2013
20756029@unknown@formal@none@1@S@To mop up some of the 300 billion rubles in circulation, the government should encourage home ownership, including issuing bonds that guarantee holders the right to purchase an apartment.@@@@1@29@@oe@2-2-2013
20756030@unknown@formal@none@1@S@-- LABOR.@@@@1@2@@oe@2-2-2013
20756031@unknown@formal@none@1@S@A genuine market for labor and wages would replace the present rigid, centralized system.@@@@1@14@@oe@2-2-2013
20756032@unknown@formal@none@1@S@Departing from decades of Soviet dogma, the new system would lead to big differences in pay between workers and almost certainly to unemployment.@@@@1@23@@oe@2-2-2013
20756033@unknown@formal@none@1@S@To cushion the blows, the government would introduce a minimum wage and unemployment benefits.@@@@1@14@@oe@2-2-2013
20756034@unknown@formal@none@1@S@-- PRICES.@@@@1@2@@oe@2-2-2013
20756035@unknown@formal@none@1@S@The entire system of centrally set prices would be overhauled, and free-market prices introduced for most wholesale trade and some retail trade.@@@@1@22@@oe@2-2-2013
20756036@unknown@formal@none@1@S@Consumers would still be able to buy some food and household goods at subsidized prices, but luxury and imported items, including food, would be sold at market prices.@@@@1@28@@oe@2-2-2013
20756037@unknown@formal@none@1@S@Wholesale prices would be divided into three categories: raw materials sold at fixed prices close to world levels; government-set procurement prices for a small number of key products; and free prices for everything else to be determined by contracts between suppliers and purchasers.@@@@1@43@@oe@2-2-2013
20756038@unknown@formal@none@1@S@Inflation-adjusted social benefits would ensure that the poor and elderly don't suffer unduly.@@@@1@13@@oe@2-2-2013
20756039@unknown@formal@none@1@S@-- FOREIGN TRADE.@@@@1@3@@oe@2-2-2013
20756040@unknown@formal@none@1@S@The current liberalization and decentralization of foreign trade would be taken much further.@@@@1@13@@oe@2-2-2013
20756041@unknown@formal@none@1@S@Soviet companies would face fewer obstacles for exports and could even invest their hard currency abroad.@@@@1@16@@oe@2-2-2013
20756042@unknown@formal@none@1@S@Foreigners would receive greater incentives to invest in the U.S.S.R.@@@@1@10@@oe@2-2-2013
20756043@unknown@formal@none@1@S@Alongside the current non-convertible ruble, a second currency would be introduced that could be freely exchanged for dollars and other Western currencies.@@@@1@22@@oe@2-2-2013
20756044@unknown@formal@none@1@S@A domestic foreign exchange market would be set up as part of an overhaul of the nation's banking system.@@@@1@19@@oe@2-2-2013
20756045@unknown@formal@none@1@S@The blueprint is at its vaguest when referring to the fate of the two powerful economic institutions that seem likely to oppose such sweeping plans: the State Planning Committee, known as Gosplan, and the State Committee for Material Supply, or Gossnab.@@@@1@41@@oe@2-2-2013
20756046@unknown@formal@none@1@S@But it hints strongly that both organizations would increasingly lose their clout as the changes, particularly the introduction of wholesale trade and the breakup of state monopolies, take effect.@@@@1@29@@oe@2-2-2013
20757001@unknown@formal@none@1@S@Ready, Willing and Unable I always lift the hood When my car doesn't start; If gadgets at home don't work I coolly take them apart.@@@@1@25@@oe@2-2-2013
20757002@unknown@formal@none@1@S@I'll admit there's nothing wrong That I ever do find, But it's nice when people say I appear mechanically inclined.@@@@1@20@@oe@2-2-2013
20757003@unknown@formal@none@1@S@-- Joshua Adams.@@@@1@3@@oe@2-2-2013
20757004@unknown@formal@none@1@S@Flick Shock@@@@1@2@@oe@2-2-2013
20757005@unknown@formal@none@1@S@At the movies today In detail you see What the prof wouldn't show In Physiology Three.@@@@1@16@@oe@2-2-2013
20757006@unknown@formal@none@1@S@-- Robert Gordon.@@@@1@3@@oe@2-2-2013
20757007@unknown@formal@none@1@S@Candid Comment@@@@1@2@@oe@2-2-2013
20757008@unknown@formal@none@1@S@Don't worry; people will learn to read as long as there are TV program listings.@@@@1@15@@oe@2-2-2013
20757009@unknown@formal@none@1@S@-- John Drybred.@@@@1@3@@oe@2-2-2013
20758001@unknown@formal@none@1@S@Albert Engelken and Robert Thomson had never met, though for 38 years their lives had been intertwined in a way peculiar to the sports world.@@@@1@25@@oe@2-2-2013
20758002@unknown@formal@none@1@S@Mr. Engelken, now a transit-association executive in Washington, D.C., and Mr. Thomson, a paper-products salesman in Montvale, N.J., hadn't even talked to each other.@@@@1@24@@oe@2-2-2013
20758003@unknown@formal@none@1@S@But one recent day, they became much closer.@@@@1@8@@oe@2-2-2013
20758004@unknown@formal@none@1@S@Mr. Engelken, a rabid baseball fan, pores over the sports pages to chart the exploits of "my favorite and not-so-favorite teams and players."@@@@1@23@@oe@2-2-2013
20758005@unknown@formal@none@1@S@He often groans, he says, at the "clutter" of sports stories about drugs, alcohol, gambling and some player's lament "about the miserly millions he is offered to play the game."@@@@1@30@@oe@2-2-2013
20758006@unknown@formal@none@1@S@His morning paper, the Washington Post, even carries a sports column called "Jurisprudence" that recounts the latest arrests and convictions of players and team managers.@@@@1@25@@oe@2-2-2013
20758007@unknown@formal@none@1@S@Like many sports buffs, Mr. Engelken has turned cynic.@@@@1@9@@oe@2-2-2013
20758008@unknown@formal@none@1@S@But his is a story about a hero in an era of sports anti-heroes, and about what Babe Ruth, Mr. Engelken reminds us, once called "the only real game in the world."@@@@1@32@@oe@2-2-2013
20758009@unknown@formal@none@1@S@To Mr. Engelken, it is also a story "about love, because I'm blessed to have a wife who still thinks her slightly eccentric husband's 50th birthday deserves the ultimate present."@@@@1@30@@oe@2-2-2013
20758010@unknown@formal@none@1@S@To understand what Mr. Engelken means, one must go back to a sunny October afternoon in 1951 at New York's Polo Grounds stadium, where, it can be argued, the most dramatic moment in baseball history was played out.@@@@1@38@@oe@2-2-2013
20758011@unknown@formal@none@1@S@It was the ninth inning of the third game of a three-game playoff between the Brooklyn Dodgers and the New York Giants (the predecessor to the San Francisco Giants scheduled to play in tonight's world series).@@@@1@36@@oe@2-2-2013
20758012@unknown@formal@none@1@S@Baseball fans throughout New York had sweated out a long summer with their teams, and now it had come to this: a battle between the two for the National League pennant -- down to the last inning of the last game, no less.@@@@1@43@@oe@2-2-2013
20758013@unknown@formal@none@1@S@Some 34,320 fans jammed the stands, and shouted at the top of their lungs.@@@@1@14@@oe@2-2-2013
20758014@unknown@formal@none@1@S@Mr. Engelken was doing the same across the Hudson River in New Jersey, where, with his nose pressed against the front window of the Passaic-Clifton National Bank, he watched the duel on a television set the bank set up for the event.@@@@1@42@@oe@2-2-2013
20758015@unknown@formal@none@1@S@The playoff series had riveted the 12-year-old Giants fan.@@@@1@9@@oe@2-2-2013
20758016@unknown@formal@none@1@S@"The Giants struck first, winning the opener, 3-1, on a two-run homer off Dodger right-hander Ralph Branca," Mr. Engelken recalls with precision today.@@@@1@23@@oe@2-2-2013
20758017@unknown@formal@none@1@S@"The Giants got swamped in the second game, 100, and trailed 4-1 going into the bottom of the ninth of the third and deciding game.@@@@1@25@@oe@2-2-2013
20758018@unknown@formal@none@1@S@The Giants scored once and had runners on second {Whitey Lockman} and third {Clint Hartung} as Bobby Thomson advanced to the plate."@@@@1@22@@oe@2-2-2013
20758019@unknown@formal@none@1@S@The rest, as they say, is history.@@@@1@7@@oe@2-2-2013
20758020@unknown@formal@none@1@S@Mr. Thomson, a tall, Scottish-born, right-hand hitter, stepped into the batter's box.@@@@1@12@@oe@2-2-2013
20758021@unknown@formal@none@1@S@"Thomson took a called strike," Mr. Engelken recounts.@@@@1@8@@oe@2-2-2013
20758022@unknown@formal@none@1@S@The tension mounted as Ralph Branca, again on the mound, stared down the batter.@@@@1@14@@oe@2-2-2013
20758023@unknown@formal@none@1@S@He wound up and let loose a fastball.@@@@1@8@@oe@2-2-2013
20758024@unknown@formal@none@1@S@The pitch sailed toward Bobby Thomson high and inside and then, with a crack of the bat, was sent rocketing back into the lower leftfield stands.@@@@1@26@@oe@2-2-2013
20758025@unknown@formal@none@1@S@"Giants fans went into euphoria," says Mr. Engelken.@@@@1@8@@oe@2-2-2013
20758026@unknown@formal@none@1@S@And Bobby Thomson was made a legend.@@@@1@7@@oe@2-2-2013
20758027@unknown@formal@none@1@S@The same Bobby Thomson, it turns out, who sells those paper-goods today.@@@@1@12@@oe@2-2-2013
20758028@unknown@formal@none@1@S@There can't be an older baseball fan alive who doesn't clearly remember that Bobby Thomson homer, who can't tell you where he was when he heard the famous Russ Hodges radio broadcast -- the one that concluded with Mr. Hodges shouting, over and over, "The Giants win the pennant, the Giants win the pennant!"@@@@1@54@@oe@2-2-2013
20758029@unknown@formal@none@1@S@Mr. Engelken and Mr. Thomson drifted in different directions in the subsequent years, and the Polo Grounds, located under Coogan's Bluff in upper Manhattan, was replaced by a public-housing project.@@@@1@30@@oe@2-2-2013
20758030@unknown@formal@none@1@S@Mr. Thomson played outfield and third base until 1960, posting a lifetime .270 batting average and chalking up 264 home runs before retiring and going into paper-goods sales.@@@@1@28@@oe@2-2-2013
20758031@unknown@formal@none@1@S@Mr. Engelken moved south to Washington, but he took with him enduring memories of the homer of 1951.@@@@1@18@@oe@2-2-2013
20758032@unknown@formal@none@1@S@When his wife, Betsy, came down the aisle on their wedding day in 1966, Mr. Engelken -- no slouch on the romantic front -- gave her the ultimate compliment: "You look prettier than Bobby Thomson's home run."@@@@1@37@@oe@2-2-2013
20758033@unknown@formal@none@1@S@The couple's first dog, Homer, was named after the Great Event, though unwitting friends assumed he was the namesake of the poet.@@@@1@22@@oe@2-2-2013
20758034@unknown@formal@none@1@S@And when Mr. Engelken's sister, Martha, who was born two days before the home run, reached her 25th birthday, Mr. Engelken wrote his sports hero to tell him of the coincidence of events.@@@@1@33@@oe@2-2-2013
20758035@unknown@formal@none@1@S@Mr. Thomson sent off a card to Martha: "It doesn't seem like 25 years since I hit that home run to celebrate your birth," it read.@@@@1@26@@oe@2-2-2013
20758036@unknown@formal@none@1@S@Martha was pleased, but nowhere near as much as Mr. Engelken.@@@@1@11@@oe@2-2-2013
20758037@unknown@formal@none@1@S@The family license plate reads "ENG 23," the first three letters of the family name and -- no surprise here -- Bobby Thomson's uniform number.@@@@1@25@@oe@2-2-2013
20758038@unknown@formal@none@1@S@And on Mr. Engelken's 40th birthday, his wife bought a book detailing the big homer and sent it off to Mr. Thomson to be autographed.@@@@1@25@@oe@2-2-2013
20758039@unknown@formal@none@1@S@"What could have been better?" asks Mr. Engelken.@@@@1@8@@oe@2-2-2013
20758040@unknown@formal@none@1@S@Betsy Engelken asked the same question earlier this year, when her husband was about to turn 50.@@@@1@17@@oe@2-2-2013
20758041@unknown@formal@none@1@S@She had an idea.@@@@1@4@@oe@2-2-2013
20758042@unknown@formal@none@1@S@On her husband's 50th birthday (after an auspicious 23 years of marriage, it should be noted), Betsy, Al and their college-bound son set out for New York to visit Fordham University.@@@@1@31@@oe@2-2-2013
20758043@unknown@formal@none@1@S@Mrs. Engelken had scheduled a stop on the New Jersey Turnpike to, she told her husband, pick up some papers for a neighbor.@@@@1@23@@oe@2-2-2013
20758044@unknown@formal@none@1@S@The papers would be handed over at a bank of telephone booths just off Exit 10.@@@@1@16@@oe@2-2-2013
20758045@unknown@formal@none@1@S@"It sounded like something out of Ian Fleming," Mr. Engelken recalls.@@@@1@11@@oe@2-2-2013
20758046@unknown@formal@none@1@S@At the appointed exit, the family pulled over, and Mrs. Engelken went to get her papers.@@@@1@16@@oe@2-2-2013
20758047@unknown@formal@none@1@S@Mr. Engelken turned off the motor and rolled down the window.@@@@1@11@@oe@2-2-2013