20790058@unknown@formal@none@1@S@Mr. Horwitz is a Journal staff reporter covering the Middle East.@@@@1@11@@oe@2-2-2013
20791001@unknown@formal@none@1@S@Norwood Partners Limited Partnership of Boston said it may make a tender offer for some or all of Phoenix Technologies Ltd.'s common shares.@@@@1@23@@oe@2-2-2013
20791002@unknown@formal@none@1@S@Norwood, Mass.-based Phoenix, a once-high-flying maker of software for personal computers, has had substantial losses in the past two quarters.@@@@1@20@@oe@2-2-2013
20791003@unknown@formal@none@1@S@Its stock, which was as high as $18.75 a share, has been trading under $4 a share recently.@@@@1@18@@oe@2-2-2013
20791004@unknown@formal@none@1@S@Yesterday it closed at $4.375 a share, up $1.125, in national over-the-counter trading.@@@@1@13@@oe@2-2-2013
20791005@unknown@formal@none@1@S@In a Securities and Exchange Commission filing, Norwood said it's part of a group that holds 525,546 Phoenix Technologies common shares, or a 5.3% stake.@@@@1@25@@oe@2-2-2013
20791006@unknown@formal@none@1@S@Norwood has made "no detailed plans," but it has engaged in talks with other shareholders, the filing said.@@@@1@18@@oe@2-2-2013
20791007@unknown@formal@none@1@S@Phoenix declined to comment.@@@@1@4@@oe@2-2-2013
20791008@unknown@formal@none@1@S@Norwood is controlled by Daniel L. Barnett and Paul A. Reese, both officers of Boston-based Oasis Capital Management Inc., a small Boston money management firm.@@@@1@25@@oe@2-2-2013
20791009@unknown@formal@none@1@S@Also involved in the group is Robert F. Angelo, formerly Phoenix's senior vice president, field operations, who left Phoenix at the beginning of October.@@@@1@24@@oe@2-2-2013
20791010@unknown@formal@none@1@S@Mr. Angelo was described in the filing as a consultant to Oasis.@@@@1@12@@oe@2-2-2013
20792001@unknown@formal@none@1@S@Weirton Steel Corp. said it reached a tentative agreement on a 48-month labor contract with the Independent Steelworkers Union covering production and maintenance employees.@@@@1@24@@oe@2-2-2013
20792002@unknown@formal@none@1@S@The agreement, subject to approval of union members, would cover about 6,000 workers.@@@@1@13@@oe@2-2-2013
20792003@unknown@formal@none@1@S@The tentative agreement provides for wage increases of 85 cents an hour retroactive to Sept. 25, 1989, and for increases of 19 cents, 70 cents and 35 cents an hour effective Jan. 1, 1991, 1992 and 1993, respectively.@@@@1@38@@oe@2-2-2013
20792004@unknown@formal@none@1@S@It also provides for benefit adjustments, including a partial restoration of vacations and holidays, as well as work-rule changes to increase productivity.@@@@1@22@@oe@2-2-2013
20793001@unknown@formal@none@1@S@Ground zero of the HUD scandal is the Secretary's "discretionary fund," a honey pot used to fund projects that weren't approved through normal HUD channels.@@@@1@25@@oe@2-2-2013
20793002@unknown@formal@none@1@S@Jack Kemp wants to abolish it.@@@@1@6@@oe@2-2-2013
20793003@unknown@formal@none@1@S@Instead, Congress's idea of reform is to increase this slush fund by $28.4 million.@@@@1@14@@oe@2-2-2013
20793004@unknown@formal@none@1@S@And transfer control of much of it to Capitol Hill.@@@@1@10@@oe@2-2-2013
20793005@unknown@formal@none@1@S@The HUD scandals will simply continue, but under new mismanagement.@@@@1@10@@oe@2-2-2013
20793006@unknown@formal@none@1@S@After one of the most amazing debates we've ever seen on the cable channel C-SPAN, the House voted 250 to 170 on Wednesday to order $28.4 million in spending for a New Jersey arts center, a Michigan library and 38 other pet projects out of the same discretionary fund that was supposed to have been so abused during Sam Pierce's tenure.@@@@1@61@@oe@2-2-2013
20793007@unknown@formal@none@1@S@HUD has no paper work whatsoever on 30 of the projects, none of the others has been approved and not a single congressional hearing has been held on any of them.@@@@1@31@@oe@2-2-2013
20793008@unknown@formal@none@1@S@However, four are in the Michigan district of Rep. Bob Traxler, the chairman of the House subcommittee that writes the HUD spending bill.@@@@1@23@@oe@2-2-2013
20793009@unknown@formal@none@1@S@Of course, this kind of blatant congressional pork-barreling is called "constituent service" by Members, while the same kind of noncompetitive favoritism at HUD is labeled "influence peddling."@@@@1@27@@oe@2-2-2013
20793010@unknown@formal@none@1@S@Unlike those awful Republican consultants, Members don't profit directly from HUD projects.@@@@1@12@@oe@2-2-2013
20793011@unknown@formal@none@1@S@They merely collect campaign contributions from developers that help keep them in office.@@@@1@13@@oe@2-2-2013
20793012@unknown@formal@none@1@S@The 40 pet projects were discovered buried in the appropriations bill for HUD and some other agencies after it returned from a conference committee that was called to resolve differences between the House and Senate versions.@@@@1@36@@oe@2-2-2013
20793013@unknown@formal@none@1@S@Conference committees are breeding grounds for mischief.@@@@1@7@@oe@2-2-2013
20793014@unknown@formal@none@1@S@They are often closed to the public and no minutes are taken.@@@@1@12@@oe@2-2-2013
20793015@unknown@formal@none@1@S@Members find it easy to doctor legislation by slipping in special provisions that could never survive in the cold light of day.@@@@1@22@@oe@2-2-2013
20793016@unknown@formal@none@1@S@In this case, the Members outdid themselves.@@@@1@7@@oe@2-2-2013
20793017@unknown@formal@none@1@S@They transferred some $28 million from the Community Development Block Grant program designated largely for low- and moderate-income projects and funneled it into such items as: -- $1.2 million for a performing-arts center in Newark, -- $1.3 million for "job retention" in Hawaiian sugar mills. -- $400,000 for a collapsing utility tunnel in Salisbury, -- $500,000 for "equipment and landscaping to deter crime and aid police surveillance" at a Michigan park. -- $450,000 for "integrated urban data based in seven cities." No other details. -- $390,000 for a library and recreation center at Mackinac Island, Mich.@@@@1@96@@oe@2-2-2013
20793018@unknown@formal@none@1@S@Rep. Traxler recently purchased an unimproved building lot on the island.@@@@1@11@@oe@2-2-2013
20794001@unknown@formal@none@1@S@This is slightly adapted from remarks Oct. 7 by former Secretary of State George P. Shultz to an alumni gathering at the Stanford Business School, where he has returned to the faculty:@@@@1@32@@oe@2-2-2013
20794002@unknown@formal@none@1@S@I was struck a couple of years ago by the drug-interdiction effort in the Bahamas.@@@@1@15@@oe@2-2-2013
20794003@unknown@formal@none@1@S@We had intercepted during the year an estimated $5 billion street value of cocaine.@@@@1@14@@oe@2-2-2013
20794004@unknown@formal@none@1@S@I don't know how much got through.@@@@1@7@@oe@2-2-2013
20794005@unknown@formal@none@1@S@Nobody has any credible estimate.@@@@1@5@@oe@2-2-2013
20794006@unknown@formal@none@1@S@The GNP of the Bahamas is probably somewhere between one and two billion dollars.@@@@1@14@@oe@2-2-2013
20794007@unknown@formal@none@1@S@So you get an idea of the leverage there and elsewhere that our market for drugs has brought about.@@@@1@19@@oe@2-2-2013
20794008@unknown@formal@none@1@S@I welcome the emphasis that is now being put on the drug problem.@@@@1@13@@oe@2-2-2013
20794009@unknown@formal@none@1@S@The efforts to get to the people who are addicted, try to rehabilitate them; if they cannot be rehabilitated, at least to contain them; to educate people, to strongly discourage use of drugs by people who are casual users and first users, to stop this process among the young -- all of these things I think are extremely important.@@@@1@59@@oe@2-2-2013
20794010@unknown@formal@none@1@S@But, I have to tell you that it seems to me that the conceptual base of the current program is flawed and the program is not likely to work.@@@@1@29@@oe@2-2-2013
20794011@unknown@formal@none@1@S@The conceptual base -- a criminal-justice approach -- is the same that I have worked through before, in the Nixon administration when I was budget director and secretary of the treasury with jurisdiction over the Customs.@@@@1@36@@oe@2-2-2013
20794012@unknown@formal@none@1@S@We designed a comprehensive program, and we worked hard on it.@@@@1@11@@oe@2-2-2013
20794013@unknown@formal@none@1@S@In the Reagan administration we designed a comprehensive program; we worked very hard on it.@@@@1@15@@oe@2-2-2013
20794014@unknown@formal@none@1@S@Our international efforts were far greater than ever before.@@@@1@9@@oe@2-2-2013
20794015@unknown@formal@none@1@S@You're looking at a guy whose motorcade was attacked in Bolivia by the drug terrorists, so I'm personally a veteran of this war.@@@@1@23@@oe@2-2-2013
20794016@unknown@formal@none@1@S@What we have before us now is essentially the same program but with more resources plowed into all of the efforts to enforce and control.@@@@1@25@@oe@2-2-2013
20794017@unknown@formal@none@1@S@These efforts wind up creating a market where the price vastly exceeds the cost.@@@@1@14@@oe@2-2-2013
20794018@unknown@formal@none@1@S@With these incentives, demand creates its own supply and a criminal network along with it.@@@@1@15@@oe@2-2-2013
20794019@unknown@formal@none@1@S@It seems to me we're not really going to get anywhere until we can take the criminality out of the drug business and the incentives for criminality out of it.@@@@1@30@@oe@2-2-2013
20794020@unknown@formal@none@1@S@Frankly, the only way I can think of to accomplish this is to make it possible for addicts to buy drugs at some regulated place at a price that approximates their cost.@@@@1@32@@oe@2-2-2013
20794021@unknown@formal@none@1@S@When you do that you wipe out the criminal incentives, including, I might say, the incentive that the drug pushers have to go around and get kids addicted, so that they create a market for themselves.@@@@1@36@@oe@2-2-2013
20794022@unknown@formal@none@1@S@They won't have that incentive because they won't have that market.@@@@1@11@@oe@2-2-2013
20794023@unknown@formal@none@1@S@So I think the conceptual base needs to be thought out in a different way.@@@@1@15@@oe@2-2-2013
20794024@unknown@formal@none@1@S@If I am catching your attention, then read a bold and informative article in this September's issue of Science by Ethan Nadelmann on this subject.@@@@1@25@@oe@2-2-2013
20794025@unknown@formal@none@1@S@We need at least to consider and examine forms of controlled legalization of drugs.@@@@1@14@@oe@2-2-2013
20794026@unknown@formal@none@1@S@I find it very difficult to say that.@@@@1@8@@oe@2-2-2013
20794027@unknown@formal@none@1@S@Sometimes at a reception or cocktail party I advance these views and people head for somebody else.@@@@1@17@@oe@2-2-2013
20794028@unknown@formal@none@1@S@They don't even want to talk to you.@@@@1@8@@oe@2-2-2013
20794029@unknown@formal@none@1@S@I know that I'm shouting into the breeze here as far as what we're doing now.@@@@1@16@@oe@2-2-2013
20794030@unknown@formal@none@1@S@But I feel that if somebody doesn't get up and start talking about this now, the next time around, when we have the next iteration of these programs, it will still be true that everyone is scared to talk about it.@@@@1@41@@oe@2-2-2013
20794031@unknown@formal@none@1@S@No politician wants to say what I just said, not for a minute.@@@@1@13@@oe@2-2-2013
20795001@unknown@formal@none@1@S@The U.S. economy grew at a moderate 2.5% annual rate in the third quarter, the same pace as the second quarter, despite the worst trade performance in six years, the Commerce Department reported.@@@@1@33@@oe@2-2-2013
20795002@unknown@formal@none@1@S@Personal spending, buoyed by a burst of automobile buying, was the main catalyst to the economy's expansion.@@@@1@17@@oe@2-2-2013
20795003@unknown@formal@none@1@S@But trade, one of the economy's main forces in the past few years, showed a sharp deterioration.@@@@1@17@@oe@2-2-2013
20795004@unknown@formal@none@1@S@Imports of goods and services soared, while exports were flat.@@@@1@10@@oe@2-2-2013
20795005@unknown@formal@none@1@S@Some economists found the mixture ominous.@@@@1@6@@oe@2-2-2013
20795006@unknown@formal@none@1@S@"For the past two years, the foreign trade sector has been a major contributor to economic growth.@@@@1@17@@oe@2-2-2013
20795007@unknown@formal@none@1@S@You can't rely now solely on consumer spending to sustain the economy on a solid growth path," said Norman Robertson, chief economist at Mellon Bank in Pittsburgh.@@@@1@27@@oe@2-2-2013
20795008@unknown@formal@none@1@S@Although the economy showed no change of pace from the second quarter, many analysts expect it to slow considerably in the fourth quarter as demand for autos falls, partly because of higher prices on models introduced last month.@@@@1@38@@oe@2-2-2013
20795009@unknown@formal@none@1@S@Many economists think the rise in the value of the U.S. dollar this year will further crimp progress in trade, because it makes exports more expensive and imports cheaper.@@@@1@29@@oe@2-2-2013
20795010@unknown@formal@none@1@S@And business investment -- which slowed in the third quarter, according to yesterday's report -- is expected to continue to be sluggish.@@@@1@22@@oe@2-2-2013
20795011@unknown@formal@none@1@S@A sharp reduction in inflation was by far the brightest spot in the report on the real gross national product -- the inflation-adjusted market value of all the goods and services the economy produced.@@@@1@34@@oe@2-2-2013
20795012@unknown@formal@none@1@S@An inflation gauge that measures the quarterly change in prices of an array of goods and services slowed its growth to a 2.9% annual rate in the third quarter from 5% in the second.@@@@1@34@@oe@2-2-2013
20795013@unknown@formal@none@1@S@Much of the moderation came from declining energy prices, which have since turned up a bit, analysts said.@@@@1@18@@oe@2-2-2013
20795014@unknown@formal@none@1@S@Consequently, Michael Darby, undersecretary for economic affairs at the Commerce Department, said inflation probably will edge up from the third-quarter rate in the final three months of 1989.@@@@1@28@@oe@2-2-2013
20795015@unknown@formal@none@1@S@But he said he believes the second quarter's 5% rate "will prove to have been this year's peak quarterly inflation rate."@@@@1@21@@oe@2-2-2013
20795016@unknown@formal@none@1@S@Generally, the Bush administration expressed satisfaction with the economy's progress as it heads into its eighth year of sustained growth next month.@@@@1@22@@oe@2-2-2013
20795017@unknown@formal@none@1@S@Treasury Secretary Nicholas Brady called the 2.5% pace "good, solid growth," although he said he expects the expansion to slow in the fourth quarter.@@@@1@24@@oe@2-2-2013
20795018@unknown@formal@none@1@S@He added: "Inflation is lower than I think people expected it to be, and I think that's good news."@@@@1@19@@oe@2-2-2013
20795019@unknown@formal@none@1@S@But administration officials were concerned over the bleak trade report, which showed the deficit in the country's trade of goods and services swelling to a $74 billion annual rate in the third quarter from a $51 billion rate in the second quarter.@@@@1@42@@oe@2-2-2013
20795020@unknown@formal@none@1@S@Mr. Darby called it a "disappointment" but predicted exports will pick up again.@@@@1@13@@oe@2-2-2013
20795021@unknown@formal@none@1@S@"We were unprepared for the deterioration in net exports," said Daniel Van Dyke, vice president of U.S. forecasting at Bank of America in San Francisco.@@@@1@25@@oe@2-2-2013
20795022@unknown@formal@none@1@S@"I can't believe it will continue," he added, noting that the economies of the country's major trading partners are strong and prices of U.S. products are still competitive.@@@@1@28@@oe@2-2-2013
20795023@unknown@formal@none@1@S@Some analysts also were disturbed by a pickup in the growth of business inventories.@@@@1@14@@oe@2-2-2013
20795024@unknown@formal@none@1@S@While a buildup of these stocks adds to GNP, it can hurt the economy because a pileup of unsold goods can lead to production cuts and layoffs.@@@@1@27@@oe@2-2-2013
20795025@unknown@formal@none@1@S@According to the report, inventories outside the farm sector grew at an annual rate of $24.6 billion in the third quarter, up from a $19.5 billion pace in the second quarter.@@@@1@31@@oe@2-2-2013
20795026@unknown@formal@none@1@S@Manufacturers' stocks fattened at an $18.4 billion annual rate, up from $8.3 billion.@@@@1@13@@oe@2-2-2013
20795027@unknown@formal@none@1@S@"That suggests there is a little more inventory overhang than some people expected," said Edward Boss, senior financial economist at Continental Bank in Chicago.@@@@1@24@@oe@2-2-2013
20795028@unknown@formal@none@1@S@"I don't think it's anything that's going to cause a downturn in economic activity.@@@@1@14@@oe@2-2-2013
20795029@unknown@formal@none@1@S@But it will slow production."@@@@1@5@@oe@2-2-2013
20795030@unknown@formal@none@1@S@Devastation from Hurricane Hugo, which slammed into the Southeast coast in late September, diminished personal income by about $4 billion, the department said, but it called the effect on the roughly $5 trillion economy "negligible."@@@@1@35@@oe@2-2-2013
20795031@unknown@formal@none@1@S@Except for the loss from the hurricane, all the figures were adjusted for seasonal factors and inflation.@@@@1@17@@oe@2-2-2013
20795032@unknown@formal@none@1@S@Here are some of the major components of the gross national product expressed in seasonally adjusted annual rates in billions of constant (1982) dollars:@@@@1@24@@oe@2-2-2013
20795033@unknown@formal@none@1@S@In the third quarter, the implicit price deflator fell to 2.9% of the 1982 average, from 4.6% in the previous quarter.@@@@1@21@@oe@2-2-2013
20796001@unknown@formal@none@1@S@Northrop Corp. received a $93.5 million contract by the U.S. Air Force for production tooling and test equipment for the Tacit Rainbow defense-suppression missile.@@@@1@24@@oe@2-2-2013
20796002@unknown@formal@none@1@S@The contract provides additional equipment for Northrop, the prime contractor on the missile, and also supports a 1990 purchase of 90 missiles for follow-on flight tests.@@@@1@26@@oe@2-2-2013
20797001@unknown@formal@none@1@S@General Motors Corp.'s Chevrolet division said it is offering $750 cash incentives on all 1990 models of its full-size Blazer and Suburban truck lines.@@@@1@24@@oe@2-2-2013
20797002@unknown@formal@none@1@S@Chevrolet already has cash incentives on the 1989 models of these vehicles.@@@@1@12@@oe@2-2-2013
20798001@unknown@formal@none@1@S@Hudson's Bay Co. announced terms of a previously proposed rights issue that is expected to raise about 396 million Canadian dollars (US$337 million) net of expenses.@@@@1@26@@oe@2-2-2013
20798002@unknown@formal@none@1@S@Proceeds of the offering will be used to redeem C$264 million of preferred shares and to reduce short-term debt, the company said.@@@@1@22@@oe@2-2-2013
20798003@unknown@formal@none@1@S@Canada's largest department store operator said the rights offering will entitle holders of its ordinary shares, except residents in the U.S. and Britain, to subscribe for two additional shares for every five shares held at a price of C$31.25 a share.@@@@1@41@@oe@2-2-2013
20798004@unknown@formal@none@1@S@The record date is Nov. 9.@@@@1@6@@oe@2-2-2013
20798005@unknown@formal@none@1@S@The company has about 31 million ordinary shares outstanding.@@@@1@9@@oe@2-2-2013
20798006@unknown@formal@none@1@S@On the Toronto Stock Exchange, Hudson's Bay shares closed at C$35, up 12.5 cents.@@@@1@14@@oe@2-2-2013
20798007@unknown@formal@none@1@S@Hudson's Bay said that Woodbridge Co., which currently holds about 77% of the ordinary shares, will subscribe for all the shares to which it is entitled and for any shares that aren't otherwise taken up.@@@@1@35@@oe@2-2-2013
20798008@unknown@formal@none@1@S@Woodbridge is a holding company owned by Toronto's Thomson family.@@@@1@10@@oe@2-2-2013
20798009@unknown@formal@none@1@S@Hudson's Bay said it will redeem 9.5 million Series H preferred shares on Oct. 31 at a price of C$27.75 each.@@@@1@21@@oe@2-2-2013
20798010@unknown@formal@none@1@S@The move was approved at a special shareholders' meeting yesterday.@@@@1@10@@oe@2-2-2013
20798011@unknown@formal@none@1@S@Gary Lukassen, chief financial officer, said redemption of the preferred shares, originally issued at C$25 each, will eliminate dividend payments of C$17.9 million annually.@@@@1@24@@oe@2-2-2013
20799001@unknown@formal@none@1@S@Iverson Technology Corp. was one of the fastest-growing small companies in America -- until last year.@@@@1@16@@oe@2-2-2013
20799002@unknown@formal@none@1@S@The McLean, Va., company modifies computers to keep sensitive military data out of unfriendly hands.@@@@1@15@@oe@2-2-2013
20799003@unknown@formal@none@1@S@From 1984 to 1987, its earnings soared six-fold, to $3.8 million, on a seven-fold increase in revenue, to $44.1 million.@@@@1@20@@oe@2-2-2013
20799004@unknown@formal@none@1@S@But in 1988, it ran into a buzz saw: a Defense Department spending freeze.@@@@1@14@@oe@2-2-2013
20799005@unknown@formal@none@1@S@Iverson's earnings plunged 70% to $1.2 million.@@@@1@7@@oe@2-2-2013
20799006@unknown@formal@none@1@S@The troubles continued in this year's first half, when profit plunged 81% to $302,000.@@@@1@14@@oe@2-2-2013
20799007@unknown@formal@none@1@S@Iverson Technology is one of many small defense contractors besieged by the slowdown in defense spending.@@@@1@16@@oe@2-2-2013
20799008@unknown@formal@none@1@S@Unlike larger contractors with a broad enough base to weather the downturn easily, these companies are suffering big drops in business as once-lucrative specialty niches in the massive military market erode or even disappear.@@@@1@34@@oe@2-2-2013
20799009@unknown@formal@none@1@S@Companies that only recently were thriving find themselves scrambling to survive.@@@@1@11@@oe@2-2-2013
20799010@unknown@formal@none@1@S@As their varied strategies suggest, there is more than one way to respond to a disaster -- though it's too soon to tell whether the changes will pay off.@@@@1@29@@oe@2-2-2013
20799011@unknown@formal@none@1@S@For many companies, the instinctive first response is to cut costs.@@@@1@11@@oe@2-2-2013
20799012@unknown@formal@none@1@S@Others are trying to find specialty defense work spared by the slowdown or new niches created by budget-cutting.@@@@1@18@@oe@2-2-2013
20799013@unknown@formal@none@1@S@More venturesome businesses are applying their skills in commercial fields.@@@@1@10@@oe@2-2-2013
20799014@unknown@formal@none@1@S@ERC International Inc., which provides professional and technical services to the military, is refining its defense niche, not retreating from it.@@@@1@21@@oe@2-2-2013
20799015@unknown@formal@none@1@S@After quadrupling annual earnings over four years to $6.8 million in 1988, the Fairfax, Va., company, posted a 23% drop in earnings for this year's first half.@@@@1@27@@oe@2-2-2013
20799016@unknown@formal@none@1@S@In the belief that development of advanced military technology will remain a top Defense Department priority, ERC last year acquired W.J. Schafer Associates, a technical and scientific analysis company with contracts under the Strategic Defense Initiative.@@@@1@36@@oe@2-2-2013
20799017@unknown@formal@none@1@S@While the SDI anti-missile program recently awarded W.J. Schafer two contracts totaling $13.4 million, ERC's chairman and founder, Jack Aalseth, says he bought the company "more for its technology than its customer."@@@@1@32@@oe@2-2-2013
20799018@unknown@formal@none@1@S@UNC Inc., an Annapolis, Md., contractor that earned $23.8 million on revenue of $400.4 million in 1988, has gone even further in realigning its military business.@@@@1@26@@oe@2-2-2013
20799019@unknown@formal@none@1@S@As orders for its aircraft and submarine parts dwindled, three years of steady growth ended with a 69% drop in income in this year's first half.@@@@1@26@@oe@2-2-2013
20799020@unknown@formal@none@1@S@The company hit on a new strategy: If the Defense Department is so intent on saving money, why not make money off that trend?@@@@1@24@@oe@2-2-2013
20799021@unknown@formal@none@1@S@Among the company's current efforts: repairing old parts at 25% of the cost of replacing them.@@@@1@16@@oe@2-2-2013
20799022@unknown@formal@none@1@S@UNC also is selling new parts, if needed, directly to the military instead of through a prime contractor.@@@@1@18@@oe@2-2-2013
20799023@unknown@formal@none@1@S@At as little as one-third of the government's cost, the company is running a program to train Army helicopter pilots.@@@@1@20@@oe@2-2-2013
20799024@unknown@formal@none@1@S@It is also taking over the maintenance of certain Navy aircraft with 40% fewer people than the military used.@@@@1@19@@oe@2-2-2013
20799025@unknown@formal@none@1@S@In another approach, tiny Iverson Technology is trying to resume its growth by braving the new world of commercial products.@@@@1@20@@oe@2-2-2013
20799026@unknown@formal@none@1@S@Donald Iverson, chairman, says he hopes the company can eventually get up to half of its revenue from commercial markets.@@@@1@20@@oe@2-2-2013
20799027@unknown@formal@none@1@S@For now, he says, "we're looking at buying some small companies with niche markets in the personal-computer business."@@@@1@18@@oe@2-2-2013
20799028@unknown@formal@none@1@S@Earlier this month, Mr. Iverson agreed to buy exclusive rights to a software system developed by Visher Systems Inc., Salt Lake City.@@@@1@22@@oe@2-2-2013
20799029@unknown@formal@none@1@S@The product automates an array of functions performed at small to medium-size printing companies.@@@@1@14@@oe@2-2-2013
20799030@unknown@formal@none@1@S@Mr. Iverson says there are 5,000 potential customers for the software in the Washington, D.C., area alone.@@@@1@17@@oe@2-2-2013
20799031@unknown@formal@none@1@S@QuesTech Inc., Falls Church, Va., also has acquired some companies outside the military market.@@@@1@14@@oe@2-2-2013
20799032@unknown@formal@none@1@S@Moreover, it's trying to transfer its skill at designing military equipment to commercial ventures.@@@@1@14@@oe@2-2-2013
20799033@unknown@formal@none@1@S@A partnership with a Williamsburg, Va., unit of Shell Oil Co. recently patented a process for producing plastic food containers that won't melt in microwave ovens.@@@@1@26@@oe@2-2-2013
20799034@unknown@formal@none@1@S@"We're trying to take the imagination and talent of our engineers and come up with new processes for industry," says Vincent Salvatori, QuesTech's chief executive.@@@@1@25@@oe@2-2-2013
20799035@unknown@formal@none@1@S@"It is an effort to branch out from the government, which is very difficult for a defense contractor."@@@@1@18@@oe@2-2-2013
20799036@unknown@formal@none@1@S@Mr. Salvatori should know.@@@@1@4@@oe@2-2-2013
20799037@unknown@formal@none@1@S@Instead of helping his company in the defense spending slowdown, Dynamic Engineering Inc., a troubled subsidiary that makes wind tunnels for the space industry, contributed to much of QuesTech's $3.3 million loss on $55.6 million in revenue last year.@@@@1@39@@oe@2-2-2013
20799038@unknown@formal@none@1@S@In January, Mr. Salvatori sold the unit.@@@@1@7@@oe@2-2-2013
20799039@unknown@formal@none@1@S@"It was our first acquisition," he says, "and it was a mistake."@@@@1@12@@oe@2-2-2013
20799040@unknown@formal@none@1@S@Some companies are cutting costs and hoping for the best.@@@@1@10@@oe@2-2-2013
20799041@unknown@formal@none@1@S@Telos Corp., a Santa Monica, Calif., provider of software-development and hardware-maintenance services to the military, enjoyed steady growth until this year.@@@@1@21@@oe@2-2-2013
20799042@unknown@formal@none@1@S@Following a tripling of earnings, to $3.9 million, on a doubling of revenue, to $116 million, over four years, earnings in the company's fiscal first quarter, which ended June 30, plunged 90% to $45,000.@@@@1@34@@oe@2-2-2013
20799043@unknown@formal@none@1@S@A one-time write-off for booking nonexistent revenue was partly to blame, but so were lower profits from a stingier contract with the Army and delays in getting paid.@@@@1@28@@oe@2-2-2013
20799044@unknown@formal@none@1@S@Telos responded by combining three of its five divisions to reduce expenses and "bring more focus to potentially fewer bidding opportunities," says Lin Conger, Telos chairman and controlling shareholder.@@@@1@29@@oe@2-2-2013
20799045@unknown@formal@none@1@S@"It's evident we're entering a more competitive era," he says.@@@@1@10@@oe@2-2-2013
20799046@unknown@formal@none@1@S@TransTechnology Corp., a Sherman Oaks, Calif., defense contractor that earned $9.2 million on revenue of $235.2 million in 1988, provides a more dramatic example of cost-cutting.@@@@1@26@@oe@2-2-2013
20799047@unknown@formal@none@1@S@The company not only merged three military-electronics manufacturing operations, but also closed an unrelated plant that makes ordnance devices used in fighter planes and missiles.@@@@1@25@@oe@2-2-2013
20799048@unknown@formal@none@1@S@The closing contributed to a $3.4 million loss in the fiscal first quarter ended July 31 -- its first quarterly loss since 1974.@@@@1@23@@oe@2-2-2013
20799049@unknown@formal@none@1@S@"Our ordnance business has been hurt very badly by the slowdown," says Arch Scurlock, TransTechnology's chairman.@@@@1@16@@oe@2-2-2013
20799050@unknown@formal@none@1@S@"I wouldn't say we're out of the business.@@@@1@8@@oe@2-2-2013
20799051@unknown@formal@none@1@S@But we're not making as many {pyrotechnic devices} as we used to.@@@@1@12@@oe@2-2-2013