20936022@unknown@formal@none@1@S@This recommendation might have encouraged a turf-hungry bureaucrat to try to expand his power, but so far Federal Reserve Chairman Alan Greenspan hasn't made a pitch for the job.@@@@1@29@@oe@2-2-2013
20936023@unknown@formal@none@1@S@The Fed has plenty of responsibilities in times of market turmoil and in 1987 and again in 1989 it appears to have handled them well.@@@@1@25@@oe@2-2-2013
20936024@unknown@formal@none@1@S@Mr. Brady has said he thought government agencies in the latest market drop were better prepared to coordinate their actions, but he has left no doubt that he still likes the ideas the commission advanced nearly two years ago.@@@@1@39@@oe@2-2-2013
20936025@unknown@formal@none@1@S@In recent weeks, moreover, Mr. Brady has joined other administration officials in trying to urge the Fed toward lower interest rates.@@@@1@21@@oe@2-2-2013
20936026@unknown@formal@none@1@S@The urging admittedly has been gentle.@@@@1@6@@oe@2-2-2013
20936027@unknown@formal@none@1@S@In an interview with the Washington Post in early October, the secretary said the Fed may be slightly more interested in curbing inflation than the administration is, while the administration may put slightly more emphasis on spurring economic growth.@@@@1@39@@oe@2-2-2013
20936028@unknown@formal@none@1@S@At least some economists, of course, would argue that inflation deserves a lot of emphasis.@@@@1@15@@oe@2-2-2013
20936029@unknown@formal@none@1@S@Earlier this month the St. Louis Fed held a conference to assess the system's first 75 years.@@@@1@17@@oe@2-2-2013
20936030@unknown@formal@none@1@S@Allan Meltzer, a Carnegie-Mellon University economist, noted that the Fed's record included the longest, most sustained, peacetime inflation in our history, dating from either 1966 or 1967 to 1989.@@@@1@29@@oe@2-2-2013
20936031@unknown@formal@none@1@S@The inflation-growth argument is an old one, but Mr. Brady, on the board or off, is surely trying to influence Fed policy.@@@@1@22@@oe@2-2-2013
20936032@unknown@formal@none@1@S@Equally importantly, the treasury secretary has spearheaded the administration effort to bring the U.S. dollar down by shopping avidly for West German marks and Japanese yen.@@@@1@26@@oe@2-2-2013
20936033@unknown@formal@none@1@S@The treasury can do something on its own, but to have any hope of success it needs help from the Fed.@@@@1@21@@oe@2-2-2013
20936034@unknown@formal@none@1@S@The central bank has been helping, but apparently not especially eagerly.@@@@1@11@@oe@2-2-2013
20936035@unknown@formal@none@1@S@The Fed has been intervening in foreign currency markets, all right, but through August, at least, it appeared to be "sterilizing" the intervention.@@@@1@23@@oe@2-2-2013
20936036@unknown@formal@none@1@S@In other words, it was offsetting purchases of marks and yen by buying dollars in the domestic money market.@@@@1@19@@oe@2-2-2013
20936037@unknown@formal@none@1@S@Now, sterilized intervention may have some effect.@@@@1@7@@oe@2-2-2013
20936038@unknown@formal@none@1@S@When traders see the Fed is in the exchange market it may make them tread a little carefully, for fear of what the central bank may do.@@@@1@27@@oe@2-2-2013
20936039@unknown@formal@none@1@S@But it's generally accepted that sterilized intervention has little or no lasting impact on currency values.@@@@1@16@@oe@2-2-2013
20936040@unknown@formal@none@1@S@After August the Fed may have stopped sterilizing, but it's hard to see much impact on the dollar.@@@@1@18@@oe@2-2-2013
20936041@unknown@formal@none@1@S@The dollar is still highly volatile.@@@@1@6@@oe@2-2-2013
20936042@unknown@formal@none@1@S@The Fed has let interest rates slip slightly, but whether the main reason was dollar intervention, the gloomy reports on manufacturing employment, or the Friday 13 market drop, only Mr. Greenspan and his associates know.@@@@1@35@@oe@2-2-2013
20936043@unknown@formal@none@1@S@Earlier this year, Martin Feldstein, president of the National Bureau of Economic Research, argued forcefully that a government that wants steady, stable exchange rates might try some steady stable economic policies.@@@@1@31@@oe@2-2-2013
20936044@unknown@formal@none@1@S@Trying to manage exchange rates to some desired level, he said, "would mean diverting monetary and fiscal policies from their customary roles and thereby risking excessive inflation and unemployment and inadequate capital formation."@@@@1@33@@oe@2-2-2013
20936045@unknown@formal@none@1@S@The more we think about it, the more we suspect Mr. Brady does indeed have enough power where he already is.@@@@1@21@@oe@2-2-2013
20937001@unknown@formal@none@1@S@This has been a week of stunning events behind what was once called the Iron Curtain and interesting shifts in official American policy toward Moscow.@@@@1@25@@oe@2-2-2013
20937002@unknown@formal@none@1@S@It has also been a week when inside-the-beltway Washington has had a high old time gnawing over ex-President Reagan's multimillion-dollar junket in Japan.@@@@1@23@@oe@2-2-2013
20937003@unknown@formal@none@1@S@The latter may seem oddly irrelevant, if not downright trivial, given the big picture and the way we have handled it in the nation's capital has done nothing to dispel that impression.@@@@1@32@@oe@2-2-2013
20937004@unknown@formal@none@1@S@In fact, however, Mr. Reagan's casual debasement of the office he so recently held raises issues about which Americans can actually do something.@@@@1@23@@oe@2-2-2013
20937005@unknown@formal@none@1@S@Our ability to influence the outcome of events in Eastern Europe and the Soviet Union is far more marginal.@@@@1@19@@oe@2-2-2013
20937006@unknown@formal@none@1@S@Those events continue to move at a rate, and in a direction, which leave informed commentary -- let alone policy -- far in their wake.@@@@1@25@@oe@2-2-2013
20937007@unknown@formal@none@1@S@Earlier this week, Soviet Foreign Minister Eduard A. Shevardnadze confessed that the U.S.S.R. ignored universal human values by invading Afghanistan and, to put it bluntly, "engaged in a violation of the ABM Treaty" by building its radar station at Krasnoyarsk.@@@@1@40@@oe@2-2-2013
20937008@unknown@formal@none@1@S@Hungary is no longer a "Socialist Peoples" republic, the Communist Party no longer has automatic delegates in the U.S.S.R.'s Congress of Peoples Deputies and Egon Krenz was not backed unanimously by his fellow party functionaries when he took over as East Germany's new maximum leader.@@@@1@45@@oe@2-2-2013
20937009@unknown@formal@none@1@S@All of that is just for starters, or so the hundreds of thousands of Eastern Europeans in the streets seem to hope and are certainly demanding.@@@@1@26@@oe@2-2-2013
20937010@unknown@formal@none@1@S@Of like, though lesser, note, Secretary of State James Baker put the administration four-square behind perestroika and glasnost, and therefore behind Mikhail Gorbachev, in a pair of carefully reasoned speeches over the past week or so.@@@@1@36@@oe@2-2-2013
20937011@unknown@formal@none@1@S@And, last but not least, President George Bush now views the changes in Eastern Europe as "absolutely extraordinary" and believes that Mr. Krenz "can't turn the clock back" in East Germany because the change is too inexorable," as he told the New York Times's R.W. Apple Jr.@@@@1@47@@oe@2-2-2013
20937012@unknown@formal@none@1@S@(In other words, after some highly visible dithering and public airing of differences, the administration has come down on the side of those who believe that what we are witnessing from Berlin to Siberia is a good thing to be welcomed, rather than a new thing to be feared or viewed with suspicion.)@@@@1@53@@oe@2-2-2013
20937013@unknown@formal@none@1@S@All of this is what history will note, assuming that events don't make it seem a bad joke, when the record of this time is put down.@@@@1@27@@oe@2-2-2013
20937014@unknown@formal@none@1@S@For journalists, however, who write what they fondly view as history's first draft, this has also been a week to give a lot of space and time to Ron and Nancy's sales appearance in Japan on behalf of a communications giant and its controversial founder.@@@@1@45@@oe@2-2-2013
20937015@unknown@formal@none@1@S@It has been a well-paid transaction, this bartering away of the prestige of the republic's highest office.@@@@1@17@@oe@2-2-2013
20937016@unknown@formal@none@1@S@The Japanese industrialist has coughed up at least $2 million, the Japanese government has put up just about as much, or so it is reported and at least one estimate puts the total tab at $7 million.@@@@1@37@@oe@2-2-2013
20937017@unknown@formal@none@1@S@All of which has enabled those of us in Washington who enjoy wallowing in such things to go into high public dudgeon, as Mr. Apple and I did the other night on ABC's "Nightline."@@@@1@34@@oe@2-2-2013
20937018@unknown@formal@none@1@S@Punching away, we raised what I still think were all the right issues and landed more than one hard blow, but at the end of the affair, there was just the tiniest nagging worry that we had been aiming at the wrong target.@@@@1@43@@oe@2-2-2013
20937019@unknown@formal@none@1@S@As one of his defenders so aptly put it, President Reagan was simply doing what he had always done before his election (and some would say thereafter as well).@@@@1@29@@oe@2-2-2013
20937020@unknown@formal@none@1@S@He was performing for pay, and why should anyone expect anything more?@@@@1@12@@oe@2-2-2013
20937021@unknown@formal@none@1@S@Primarily because there's more to the matter than Ronald Reagan's personal values, or lack of them.@@@@1@16@@oe@2-2-2013
20937022@unknown@formal@none@1@S@Selling the presidency for a mess of pottage is not so much a devaluation from the norm of public life today as it is a reflection of the disintegration of public standards.@@@@1@32@@oe@2-2-2013
20937023@unknown@formal@none@1@S@The theme song for the 1980s has been, "Anything Goes," and it has been whistled with gusto from Wall Street to some of the highest peaks of televangelism.@@@@1@28@@oe@2-2-2013
20937024@unknown@formal@none@1@S@There are those who say that this is nothing new, that America has always suffered from a bad case of schizophrenia when it comes to the dichotomy between what is professed and what is practiced.@@@@1@35@@oe@2-2-2013
20937025@unknown@formal@none@1@S@There is evidence to support that view.@@@@1@7@@oe@2-2-2013
20937026@unknown@formal@none@1@S@Eighty-three years ago, William James wrote to H.G. Wells: "The moral flabbiness born of the exclusive worship of the bitch goddess success . . . that, with the squalid cash interpretation put on the word success, is our national disease."@@@@1@40@@oe@2-2-2013
20937027@unknown@formal@none@1@S@But if it was the national disease in 1906, it is today the national commonplace.@@@@1@15@@oe@2-2-2013
20937028@unknown@formal@none@1@S@If there is no law against it, do it.@@@@1@9@@oe@2-2-2013
20937029@unknown@formal@none@1@S@If the law leaves loopholes, use them.@@@@1@7@@oe@2-2-2013
20937030@unknown@formal@none@1@S@If there is no moral prohibition that expressly forbids it, full speed ahead.@@@@1@13@@oe@2-2-2013
20937031@unknown@formal@none@1@S@And if you are caught or if people complain, simply argue that "everyone does it" or "no one said I shouldn't " and brazen it out.@@@@1@26@@oe@2-2-2013
20937032@unknown@formal@none@1@S@As a last recourse, when all else has failed and you are pinned, apologize for having disappointed those who trusted you but deny having actually done anything wrong.@@@@1@28@@oe@2-2-2013
20937033@unknown@formal@none@1@S@(See, for instance, Jim Bakker's remarks upon being sentenced to prison this Tuesday for defrauding the faithful.)@@@@1@17@@oe@2-2-2013
20937034@unknown@formal@none@1@S@Consider the troubling dissonance between Mr. Shevardnadze's speech of confession this week and the hang-tough defense of everyone concerned with the Iran-Contra affair.@@@@1@23@@oe@2-2-2013
20937035@unknown@formal@none@1@S@The Soviet foreign minister publicly concedes that his government "violated norms of behavior" in Afghanistan and just plain lied about the radar station.@@@@1@23@@oe@2-2-2013
20937036@unknown@formal@none@1@S@We have people in high place still lying through their teeth about Iran-Contra, and that apparently isn't going to change.@@@@1@20@@oe@2-2-2013
20937037@unknown@formal@none@1@S@For that matter, those long ago identified as liars are still given respectful hearings in the press.@@@@1@17@@oe@2-2-2013
20937038@unknown@formal@none@1@S@That is the key to the current "national disease."@@@@1@9@@oe@2-2-2013
20937039@unknown@formal@none@1@S@No one seems willing to hold anyone in public life to a standard higher than the narrowest construction of the law.@@@@1@21@@oe@2-2-2013
20937040@unknown@formal@none@1@S@The occasional media witch hunt about some politician's private peccadilloes notwithstanding, the general inclination is to offer a version of the old refrain, "Who am I to judge?"@@@@1@28@@oe@2-2-2013
20937041@unknown@formal@none@1@S@Thus, no standards, no judgment and no values.@@@@1@8@@oe@2-2-2013
20937042@unknown@formal@none@1@S@"You are mad because he's making so much money," say President Reagan's defenders.@@@@1@13@@oe@2-2-2013
20937043@unknown@formal@none@1@S@No, we ought to be mad because he has demeaned the office we gave him, enlisting it in the service of private gain, just as we ought to be mad that public officials lie through their teeth, play disingenuous games about their activities or, to steal a phrase, make public service a private trough.@@@@1@54@@oe@2-2-2013
20937044@unknown@formal@none@1@S@"I'm not going to be stampeded into overreacting to any of this, President Bush told Mr. Apple in this week's interview.@@@@1@21@@oe@2-2-2013
20937045@unknown@formal@none@1@S@He was referring to the "absolutely extraordinary" events in Eastern Europe, and it is a defensible position.@@@@1@17@@oe@2-2-2013
20937046@unknown@formal@none@1@S@But there is no defense at all for the ethos of the 1980s.@@@@1@13@@oe@2-2-2013
20937047@unknown@formal@none@1@S@We didn't stampede into it, we slithered and slipped down the long slope, and now we have as its quintessential symbol a former president huckstering for a foreign poohbah.@@@@1@29@@oe@2-2-2013
20937048@unknown@formal@none@1@S@Or perhaps that is a fitting symbol for the United States of 1989: Everything for sale; nothing of real value.@@@@1@20@@oe@2-2-2013
20937049@unknown@formal@none@1@S@Mr. Carter is a political commentator who heads a television production firm.@@@@1@12@@oe@2-2-2013
20938001@unknown@formal@none@1@S@Cineplex Odeon Corp. directors said the company's chairman and chief executive, Garth Drabinsky, is considering bidding 780.6 million Canadian dollars (US$666 million) to acquire the company.@@@@1@26@@oe@2-2-2013
20938002@unknown@formal@none@1@S@The board said Mr. Drabinsky and Vice Chairman Myron Gottlieb are negotiating financing before offering C$16.40 a share to acquire all of Cineplex's shares outstanding.@@@@1@25@@oe@2-2-2013
20938003@unknown@formal@none@1@S@The directors added that the two executives haven't reached a final decision to proceed with a bid and that until an offer is made the board will continue seeking higher offers from other bidders.@@@@1@34@@oe@2-2-2013
20938004@unknown@formal@none@1@S@The directors said if Messrs. Drabinsky and Gottlieb mail an offer to shareholders by Nov. 22, it will reimburse them a maximum of C$8.5 million for expenses related to a bid.@@@@1@31@@oe@2-2-2013
20938005@unknown@formal@none@1@S@"We consider that his bid is an acceptable bid," said Sandra Kolber, spokeswoman for the independent directors' committee appointed last May to solicit and review bids for the company in the wake of a dispute between Mr. Drabinsky and Cineplex's major shareholder, MCA Inc.@@@@1@44@@oe@2-2-2013
20938006@unknown@formal@none@1@S@MCA and Cineplex's other major shareholder, Montreal-based financier Charles Bronfman and his associates, have agreed to tender their holdings to an offer by Mr. Drabinsky unless a higher offer is made by another bidder.@@@@1@34@@oe@2-2-2013
20938007@unknown@formal@none@1@S@MCA holds half of Cineplex's equity and 33% of its voting rights through restricted voting shares, while Bronfman interests hold about 24% of the company's equity.@@@@1@26@@oe@2-2-2013
20938008@unknown@formal@none@1@S@Ms. Kolber said the committee had received other bids.@@@@1@9@@oe@2-2-2013
20938009@unknown@formal@none@1@S@She declined to identify other bidders but said Mr. Drabinsky's offer "is all cash, and it's for all of the company."@@@@1@21@@oe@2-2-2013
20938010@unknown@formal@none@1@S@Several Cineplex analysts have speculated that outside bids received by the committee were either disappointingly low or for only part of the company.@@@@1@23@@oe@2-2-2013
20938011@unknown@formal@none@1@S@"All this has really established is that MCA and the Bronfmans have agreed on a price at which they can be bought out," said Jeffery Logsdon, an analyst with Crowell, Weedon in Los Angeles.@@@@1@34@@oe@2-2-2013
20938012@unknown@formal@none@1@S@"If a bid materializes at that price, shareholders will have every reason to be glad, but the question of financing still remains."@@@@1@22@@oe@2-2-2013
20938013@unknown@formal@none@1@S@Last April, Mr. Drabinsky and a group of financial backers planned to acquire up to 30.2% of Cineplex for C$17.50 a share from Bronfman associates.@@@@1@25@@oe@2-2-2013
20938014@unknown@formal@none@1@S@Mr. Drabinsky, who would have had the right to vote those shares for two years, said the purchase, subsequently rejected by regulators, was aimed at consolidating his control of the company.@@@@1@31@@oe@2-2-2013
20938015@unknown@formal@none@1@S@MCA strongly opposed the Drabinsky group's move.@@@@1@7@@oe@2-2-2013
20938016@unknown@formal@none@1@S@The directors didn't indicate the source of financing for Mr. Drabinsky's new proposal, but said MCA and the Bronfman associates agreed in principle to buy for $57 million and then lease back to Cineplex its 18-screen theater complex in Universal City, Calif., if Mr. Drabinsky succeeds in an offer.@@@@1@49@@oe@2-2-2013
20938017@unknown@formal@none@1@S@"This is being done at the suggestion of {Mr. Drabinsky} and to accommodate him, to facilitate his financing arrangements," Ms. Kolber said.@@@@1@22@@oe@2-2-2013
20938018@unknown@formal@none@1@S@In addition, the directors said if a bid by Mr. Drabinsky is successful, Cineplex expects Rank Organisation PLC to acquire the 51% of Cineplex's Film House unit it doesn't own, and provide Mr. Drabinsky with additional loan financing.@@@@1@38@@oe@2-2-2013
20938019@unknown@formal@none@1@S@Michael Gifford, Rank's chief executive, said the British theater chain's total involvement "wouldn't exceed $100 million" but declined to give a breakdown between the loan financing and the proposed Film House purchase.@@@@1@32@@oe@2-2-2013
20938020@unknown@formal@none@1@S@Cineplex shareholders responded coolly to yesterday's announcement.@@@@1@7@@oe@2-2-2013
20938021@unknown@formal@none@1@S@In trading on the New York Stock Exchange, Cineplex closed at $11, down 25 cents, with more than a million shares changing hands.@@@@1@23@@oe@2-2-2013
20938022@unknown@formal@none@1@S@On the Toronto Stock Exchange, Cineplex closed at C$12.875, off 37.5 Canadian cents, well below the C$16.40 level.@@@@1@18@@oe@2-2-2013
20938023@unknown@formal@none@1@S@"Where's the bid?" asked Pierre Panet-Raymond, an analyst and broker with Toronto securities dealer McDermid St. Lawrence Ltd.@@@@1@18@@oe@2-2-2013
20938024@unknown@formal@none@1@S@Mr. Panet-Raymond said he doesn't think Messrs. Drabinsky and Gottlieb are "anywhere close" to arranging financing and that investors will need a solid offer before the stock begins to rise again.@@@@1@31@@oe@2-2-2013
20938025@unknown@formal@none@1@S@Mr. Drabinsky couldn't be reached for comment.@@@@1@7@@oe@2-2-2013
20939001@unknown@formal@none@1@S@Two West German chemical companies announced steps that apparently are designed to boost the chemical industry's standing among environmental groups and the general public.@@@@1@24@@oe@2-2-2013
20939002@unknown@formal@none@1@S@Hoechst AG's Chairman Wolfgang Hilger said the company wants to have a substitute product to completely replace ozone-damaging chlorofluorocarbons by 1995.@@@@1@21@@oe@2-2-2013
20939003@unknown@formal@none@1@S@In April, Hoechst, the largest producer of CFCs in West Germany, said it wanted to reduce production of the product by 50% by 1993.@@@@1@24@@oe@2-2-2013
20939004@unknown@formal@none@1@S@Mr. Hilger said Hoechst will invest 50 million marks ($27.2 million) in a plant to make a substitute product it has developed that it says is unchlorinated.@@@@1@27@@oe@2-2-2013
20939005@unknown@formal@none@1@S@The company hopes the new plant, likely to be built in Frankfurt, will be able to produce 10,000 tons a year.@@@@1@21@@oe@2-2-2013
20939006@unknown@formal@none@1@S@This year, Hoechst will produce about 62,000 tons of CFCs in factories in Frankfurt, Spain and Brazil.@@@@1@17@@oe@2-2-2013
20939007@unknown@formal@none@1@S@Of Hoechst's 40.9 billion marks in group sales in 1988, 200 million marks came from sales of CFCs.@@@@1@18@@oe@2-2-2013
20939008@unknown@formal@none@1@S@Also, BASF AG, another large chemicals company, said it formed a separate division that will study the environmental impact of plastics and will investigate all possibilities of recycling plastics.@@@@1@29@@oe@2-2-2013
20940001@unknown@formal@none@1@S@George L. Manzanec, 53 years old, senior vice president of Texas Eastern Corp., was elected a group vice president of this natural-gas-pipeline concern.@@@@1@23@@oe@2-2-2013
20940002@unknown@formal@none@1@S@Mr. Manzanec, who succeeds retiring Richard C. Dixon, will be responsible for gas supply, regulatory affairs, and marketing and transportation and exchange for Panhandle Eastern Pipe Line Co., Trunkline Gas Co., Texas Eastern Transmission Corp. and Algonquin Gas Transmission Co.@@@@1@40@@oe@2-2-2013
20940003@unknown@formal@none@1@S@All of the companies are units of Panhandle Eastern Corp., which acquired Texas Eastern Corp. earlier this year.@@@@1@18@@oe@2-2-2013
20941001@unknown@formal@none@1@S@Adolph Coors Co. said its Coors Brewing Co. unit will test market a new line of bottled water in the West beginning early next year.@@@@1@25@@oe@2-2-2013
20941002@unknown@formal@none@1@S@The move, which was expected, marks the first time since Prohibition that Coors has sold a non-alcoholic beverage, and marks the company's entry into a crowded, but fast-growing market that generated about $2.2 billion in sales last year.@@@@1@38@@oe@2-2-2013
20941003@unknown@formal@none@1@S@Coors is hoping to become one of the first companies to distribute bottled water nationwide.@@@@1@15@@oe@2-2-2013
20941004@unknown@formal@none@1@S@Perrier, sold by Perrier Group of America, a unit of Source Perrier S.A. of Paris, and Evian, sold by a U.S. unit BSN of France, are distributed to urban areas nationally, but are less available in rural communities.@@@@1@38@@oe@2-2-2013
20941005@unknown@formal@none@1@S@Coors, with its large beer-distribution network, could penetrate more markets.@@@@1@10@@oe@2-2-2013
20941006@unknown@formal@none@1@S@The company said the water will be called Coors Rocky Mountain Sparkling Water and will come from the same mountain spring as water used in Coors beer.@@@@1@27@@oe@2-2-2013
20941007@unknown@formal@none@1@S@The company said it will sell the water plain and with lemon-lime and cherry flavors and will package it in 28-ounce bottles and 6.5 ounce bottles as part of six-packs.@@@@1@30@@oe@2-2-2013
20941008@unknown@formal@none@1@S@The test markets, though not specified, will be in northern California, Arizona and Colorado, some of the hottest bottled-water markets.@@@@1@20@@oe@2-2-2013
20942001@unknown@formal@none@1@S@Some of America's biggest trading partners gave a quick thumbs-down to a U.S. proposal to liberalize world trade and reduce farm-product subsidies.@@@@1@22@@oe@2-2-2013
20942002@unknown@formal@none@1@S@In Geneva, where world trade talks are being held under the General Agreement on Tariffs and Trade, or GATT, the European Community called the U.S. proposal "a step backward."@@@@1@29@@oe@2-2-2013
20942003@unknown@formal@none@1@S@And Japan's minister of agriculture, forestry and fisheries told a committee of Japan's parliament that Washington's proposal was impractical and that Tokyo would continue to heavily subsidize its rice farmers.@@@@1@30@@oe@2-2-2013
20942004@unknown@formal@none@1@S@The U.S., in a far-reaching plan submitted to the Geneva meeting Tuesday, proposed curbing price support subsidies within 10 years and eliminating export subsidies within five years.@@@@1@27@@oe@2-2-2013
20942005@unknown@formal@none@1@S@U.S. officials said the plan was flexible, and was intended as a pragmatic approach for gradually removing trade-distorting subsidies.@@@@1@19@@oe@2-2-2013
20942006@unknown@formal@none@1@S@But the EC reacted defiantly, arguing that the proposal's main aim is to destroy the Common Agricultural Policy, the EC's $28 billion-a-year price support program.@@@@1@25@@oe@2-2-2013
20942007@unknown@formal@none@1@S@"The American proposal is not an adequate basis for negotiation," the EC said in a statement.@@@@1@16@@oe@2-2-2013
20942008@unknown@formal@none@1@S@EC officials say they are irked that the U.S. has set a specific timetable and is insisting on the "elimination" of export subsides, not just reduction.@@@@1@26@@oe@2-2-2013
20942009@unknown@formal@none@1@S@EC Agriculture Commissioner Ray MacSharry said the U.S. plan "calls into question" the agreement reached by world negotiators last April in Geneva seeking "substantial progressive reductions in agricultural support and protection."@@@@1@31@@oe@2-2-2013
20942010@unknown@formal@none@1@S@U.S. Deputy Trade Representative Jules Katz replied that the proposal was entirely consistent with the April accord.@@@@1@17@@oe@2-2-2013
20942011@unknown@formal@none@1@S@He said he was surprised by the EC's reaction, calling it "vehement, even frenetic."@@@@1@14@@oe@2-2-2013
20942012@unknown@formal@none@1@S@The U.S. proposal also was criticized by food-importing developing countries, who said that the U.S. made no special allowances for poor nations.@@@@1@22@@oe@2-2-2013
20942013@unknown@formal@none@1@S@While many experts argue that food-importing nations would eventually become self-sufficient in a free-market system, the poorest nations are likely to need help in the meantime.@@@@1@26@@oe@2-2-2013
20942014@unknown@formal@none@1@S@Ambassador Katz said the U.S. was open to discussing particular problems of developing countries.@@@@1@14@@oe@2-2-2013
20942015@unknown@formal@none@1@S@The U.S. administration said its plan would allow considerable flexibility in determining how and when the free-trade goals would be achieved.@@@@1@21@@oe@2-2-2013
20942016@unknown@formal@none@1@S@The U.S. argues that its plan would ease the transition to freer agriculture trade by converting certain non-tariff barriers into tariffs that, together with existing tariffs, then would be phased out over 10 years.@@@@1@34@@oe@2-2-2013
20942017@unknown@formal@none@1@S@But the EC is strongly opposed to converting agricultural supports into tariffs.@@@@1@12@@oe@2-2-2013
20942018@unknown@formal@none@1@S@The new U.S. package also says countries could temporarily raise tariffs on certain products if they experience an unusually heavy volume of imports.@@@@1@23@@oe@2-2-2013
20942019@unknown@formal@none@1@S@It would establish procedures to prevent countries from using health and sanitation rules to impede trade arbitrarily.@@@@1@17@@oe@2-2-2013
20942020@unknown@formal@none@1@S@Seeking to allay European concerns, U.S. Agriculture Secretary Clayton Yeutter said in Washington that the new U.S. plan wouldn't "put farmers out of business" but would encourage them to "grow what the markets desire instead of what the government wants."@@@@1@40@@oe@2-2-2013
20942021@unknown@formal@none@1@S@The EC, with a population of 320 million, has 8.5 million farmers, while the U.S., with a population of about 245 million, has only two million farmers.@@@@1@27@@oe@2-2-2013
20942022@unknown@formal@none@1@S@Japan's objections to the U.S. plan center around its desire to stay self-sufficient in rice, a staple food, even though foreign producers are far more efficient.@@@@1@26@@oe@2-2-2013
20943001@unknown@formal@none@1@S@Bell Atlantic Corp. said it agreed definitively to acquire one of Control Data Corp.'s computer-maintenance businesses.@@@@1@16@@oe@2-2-2013
20943002@unknown@formal@none@1@S@Terms of the accord weren't disclosed.@@@@1@6@@oe@2-2-2013
20943003@unknown@formal@none@1@S@Control Data's third-party maintenance unit services products primarily made by Digital Equipment Corp. and International Business Machines Corp.@@@@1@18@@oe@2-2-2013
20943004@unknown@formal@none@1@S@The unit has 6,000 customers and, according to one analyst, had 1988 revenue of about $85 million.@@@@1@17@@oe@2-2-2013
20943005@unknown@formal@none@1@S@Under the agreement, which had been widely expected, Bell Atlantic would be buying Control Data's customer base and its approximately 100 U.S. maintenance facilities in about 33 cities.@@@@1@28@@oe@2-2-2013
20943006@unknown@formal@none@1@S@However, Control Data would continue to provide maintenance services for customers of its Cyber product line.@@@@1@16@@oe@2-2-2013
20943007@unknown@formal@none@1@S@The unit represents a small portion of Minneapolis-based Control Data's overall computer-servicing business, which last year posted sales of about $400 million.@@@@1@22@@oe@2-2-2013
20943008@unknown@formal@none@1@S@Earlier this year, the company sold a similar unit in Europe for about $25 million.@@@@1@15@@oe@2-2-2013
20943009@unknown@formal@none@1@S@Lawrence Perlman, Control Data's president and chief operating officer, said the maintenance business no longer fits into the company's "strategy to be a data solutions company."@@@@1@26@@oe@2-2-2013
20943010@unknown@formal@none@1@S@Thomas Vassiliades, president of Bell Atlantic's customer services division, said the acquisition would give the company's Sorbus computer-maintenance unit added expertise in "the increasingly sophisticated workstation and high-end mainframe technologies.@@@@1@30@@oe@2-2-2013
20944001@unknown@formal@none@1@S@Two recent decisions by federal courts cast judges in the odd role of telling authors how they should write history and biography.@@@@1@22@@oe@2-2-2013
20944002@unknown@formal@none@1@S@These decisions deserve more attention than they have received from scholars, and from journalists as well.@@@@1@16@@oe@2-2-2013
20944003@unknown@formal@none@1@S@Russell Miller's "Bare-Faced Messiah: The True Story of L. Ron Hubbard" is a biography of the founder of the Church of Scientology.@@@@1@22@@oe@2-2-2013
20944004@unknown@formal@none@1@S@Mr. Hubbard, who died in 1986, bequeathed the copyrights on his writings to his church, which licensed them to New Era Publications, a Danish corporation.@@@@1@25@@oe@2-2-2013
20944005@unknown@formal@none@1@S@In 1988 New Era sought a permanent injunction to restrain Henry Holt & Co. from publishing "Bare-Faced Messiah" on the ground that Mr. Miller's quotations from Mr. Hubbard infringed the copyrights.@@@@1@31@@oe@2-2-2013
20944006@unknown@formal@none@1@S@The publisher argued in response that the "fair use" statute permits quotation "for purposes such as criticism, comment, news reporting, teaching, . . . scholarship, or research."@@@@1@27@@oe@2-2-2013
20944007@unknown@formal@none@1@S@District Court Judge Pierre Leval denied the injunction on the ground that New Era had failed to make its claim within a reasonable time -- the doctrine lawyers call "laches."@@@@1@30@@oe@2-2-2013
20944008@unknown@formal@none@1@S@As for the merits, Judge Leval said that Mr. Miller had written "a serious book of responsible historical criticism."@@@@1@19@@oe@2-2-2013
20944009@unknown@formal@none@1@S@Verbatim quotation, the judge believed, was justified in order to prove points the author had asserted about Mr. Hubbard -- mendacity, bigotry, paranoia and other unlovely traits that could not be persuasively demonstrated without use of Mr. Hubbard's own words.@@@@1@40@@oe@2-2-2013
20944010@unknown@formal@none@1@S@"The biographer/critic," Judge Leval wrote, "should not be required simply to express . . . conclusions without defending them by example.@@@@1@21@@oe@2-2-2013
20944011@unknown@formal@none@1@S@" In such circumstances, free-speech interests outweighed the interests of the copyright owner.@@@@1@13@@oe@2-2-2013
20944012@unknown@formal@none@1@S@But Judge Leval felt constrained by an earlier decision of the Second Circuit Court forbidding a biographer of J.D. Salinger to quote from Mr. Salinger's personal letters.@@@@1@27@@oe@2-2-2013
20944013@unknown@formal@none@1@S@He distinguished the two cases: In Salinger, Judge Leval noted, the quotations were for the purpose of enlivening the biography rather than of proving points about the subject.@@@@1@28@@oe@2-2-2013
20944014@unknown@formal@none@1@S@Still the Salinger decision created a strong presumption against fair use of unpublished materials.@@@@1@14@@oe@2-2-2013
20944015@unknown@formal@none@1@S@Judge Leval reluctantly concluded that a few of Mr. Miller's quotations from Mr. Hubbard's unpublished writings, because they were not necessary to prove historical points, failed the fair-use test and therefore infringed copyright.@@@@1@33@@oe@2-2-2013
20944016@unknown@formal@none@1@S@But the proper remedy, Judge Leval said, lay in a suit for damages, not in an injunction.@@@@1@17@@oe@2-2-2013
20944017@unknown@formal@none@1@S@The case went on appeal to the Second Circuit.@@@@1@9@@oe@2-2-2013
20944018@unknown@formal@none@1@S@In a decision in April of this year, Judge Roger Miner, joined by Judge Frank Altimari, agreed on denying the injunction and did not doubt that "Bare-Faced Messiah" was a serious work but rejected Judge Leval's argument that the public interest in scholarship could outweigh the sanctity of copyright.@@@@1@49@@oe@2-2-2013
20944019@unknown@formal@none@1@S@"We conclude," the two judges wrote, "that laches is the sole bar to the issuance of an injunction."@@@@1@18@@oe@2-2-2013
20944020@unknown@formal@none@1@S@Had the suit been filed in time, they said, "Bare-Faced Messiah" would have been suppressed.@@@@1@15@@oe@2-2-2013
20944021@unknown@formal@none@1@S@This was too much for James Oakes, the court's chief judge.@@@@1@11@@oe@2-2-2013
20944022@unknown@formal@none@1@S@In a powerful separate opinion, Judge Oakes further distinguished the Salinger case by pointing out that a living person, like Mr. Salinger, had privacy rights that did not apply to a dead man, like Mr. Hubbard.@@@@1@36@@oe@2-2-2013
20944023@unknown@formal@none@1@S@"I thought that Salinger might by being taken in another factual context come back to haunt us.@@@@1@17@@oe@2-2-2013
20944024@unknown@formal@none@1@S@This case realizes that concern."@@@@1@5@@oe@2-2-2013
20944025@unknown@formal@none@1@S@Decisions by the Second Circuit itself, Judge Oakes continued, had recognized that public interest in the subject matter and the indispensability in particular cases of verbatim quotations are vital components of fair use.@@@@1@33@@oe@2-2-2013
20944026@unknown@formal@none@1@S@And the injunction Judges Miner and Altimari would so readily have granted had New Era sued in time?@@@@1@18@@oe@2-2-2013
20944027@unknown@formal@none@1@S@Suppression of the book, Judge Oakes observed, would operate as a prior restraint and thus involve the First Amendment.@@@@1@19@@oe@2-2-2013
20944028@unknown@formal@none@1@S@Moreover, and here Judge Oakes went to the heart of the question, "Responsible biographers and historians constantly use primary sources, letters, diaries, and memoranda.@@@@1@24@@oe@2-2-2013
20944029@unknown@formal@none@1@S@Indeed, it would be irresponsible to ignore such sources of information."@@@@1@11@@oe@2-2-2013
20944030@unknown@formal@none@1@S@Now, scholars in fulfilling their responsibility do not claim the right to invade every collection of papers that bears upon their topics of investigation.@@@@1@24@@oe@2-2-2013
20944031@unknown@formal@none@1@S@And of course they agree that people can impose restrictions on the use of their papers, whether in their own possession or as donated or sold to libraries.@@@@1@28@@oe@2-2-2013
20944032@unknown@formal@none@1@S@But in the "Bare-Faced Messiah" case the author found most of his material in court records or via the Freedom of Information Act.@@@@1@23@@oe@2-2-2013
20944033@unknown@formal@none@1@S@And when responsible scholars gain legitimate access to unpublished materials, copyright should not be permitted to deny them use of quotations that help to establish historical points.@@@@1@27@@oe@2-2-2013
20944034@unknown@formal@none@1@S@Judges Oakes and Leval understand the requirements of historical scholarship.@@@@1@10@@oe@2-2-2013
20944035@unknown@formal@none@1@S@Judges Miner and Altimari do not appear to have a clue.@@@@1@11@@oe@2-2-2013
20944036@unknown@formal@none@1@S@Yet at the moment they are the judges who are making the law.@@@@1@13@@oe@2-2-2013
20944037@unknown@formal@none@1@S@As matters stand, the Salinger ruling, torn from context and broadly construed, is controlling.@@@@1@14@@oe@2-2-2013
20944038@unknown@formal@none@1@S@If an author quotes "more than minimal amounts" of unpublished copyrighted materials, as the Salinger decision had it, "he deserves to be enjoined."@@@@1@23@@oe@2-2-2013
20944039@unknown@formal@none@1@S@The courts have not defined "minimal amounts," but publishers, I understand, take it to mean about 50 words.@@@@1@18@@oe@2-2-2013
20944040@unknown@formal@none@1@S@The "Bare-Faced Messiah" decision strikes a blow against the whole historical enterprise.@@@@1@12@@oe@2-2-2013
20944041@unknown@formal@none@1@S@A second decision, handed down in August by the Court of Appeals for the Ninth Circuit, is another blow against scholarship.@@@@1@21@@oe@2-2-2013
20944042@unknown@formal@none@1@S@Janet Malcolm, a professional writer on psychiatric matters, wrote a series of articles for the New Yorker, later published in book form by Knopf under the title "In the Freud Archives."@@@@1@31@@oe@2-2-2013
20944043@unknown@formal@none@1@S@The articles were largely based on interviews Ms. Malcolm had taped with Jeffrey Masson, a psychoanalyst who had served as projects director of the Freud Archives.@@@@1@26@@oe@2-2-2013
20944044@unknown@formal@none@1@S@Mr. Masson then brought a libel suit against Ms. Malcolm, the New Yorker and Knopf.@@@@1@15@@oe@2-2-2013
20944045@unknown@formal@none@1@S@As a public figure, Mr. Masson had to prove malice and, as proof of malice, Mr. Masson contended that defamatory quotations ascribed to him by Ms. Malcolm were in fact fabricated.@@@@1@31@@oe@2-2-2013
20944046@unknown@formal@none@1@S@The quotes could not be found on the tapes, and the two judges who decided the case for Ms. Malcolm and her publishers conceded that, for the purpose of their decision, "we assume the quotations were deliberately altered."@@@@1@38@@oe@2-2-2013
20944047@unknown@formal@none@1@S@For all historians and most journalists, this admission would have been sufficient to condemn the Malcolm articles.@@@@1@17@@oe@2-2-2013
20944048@unknown@formal@none@1@S@But Judge Arthur Alarcon, joined by Judge Cynthia Holcomb Hall, took the astonishing position that it is perfectly OK to fabricate quotations so long as a judge finds that the fabrications do not alter substantive content or are rational interpretations of ambiguous remarks.@@@@1@43@@oe@2-2-2013
20944049@unknown@formal@none@1@S@In his eloquent dissent, Judge Alex Kozinski observed that when a writer uses quotation marks in reporting what someone has said, the reader assumes that these are the speaker's precise words or at least his words purged of "uh" and "you know" and grammatical error.@@@@1@45@@oe@2-2-2013
20944050@unknown@formal@none@1@S@While judges have an obligation under the First Amendment to safeguard freedom of the press, "the right to deliberately alter quotations is not, in my view, a concomitant of a free press."@@@@1@32@@oe@2-2-2013
20944051@unknown@formal@none@1@S@Ms. Malcolm, for example, wrote that Mr. Masson described himself as "the greatest analyst who ever lived."@@@@1@17@@oe@2-2-2013
20944052@unknown@formal@none@1@S@No such statement appears on the tapes.@@@@1@7@@oe@2-2-2013
20944053@unknown@formal@none@1@S@The majority cited Mr. Masson's remark "It's me alone . . . against the rest of the analytic world" as warrant for the Malcolm fabrication.@@@@1@25@@oe@2-2-2013
20944054@unknown@formal@none@1@S@But, as Judge Kozinski noted, the context shows that Mr. Masson's "me alone" remark referred not to his alleged pre-eminence in his profession but to the fact that his position on a particular issue was not shared by anyone else.@@@@1@40@@oe@2-2-2013
20944055@unknown@formal@none@1@S@Ms. Malcolm had Mr. Masson describing himself as "an intellectual gigolo."@@@@1@11@@oe@2-2-2013
20944056@unknown@formal@none@1@S@Again, no such statement appears on the tapes.@@@@1@8@@oe@2-2-2013
20944057@unknown@formal@none@1@S@The majority decision contended that the phrase was a rational interpretation of Mr. Masson's description of himself as a "private asset but a public liability" to Anna Freud and that in any case it was not defamatory.@@@@1@37@@oe@2-2-2013
20944058@unknown@formal@none@1@S@Judge Kozinski found the derivation entirely strained and writes that "for an academic to refer to himself as an intellectual gigolo is . . . a devastating admission of professional dishonesty."@@@@1@31@@oe@2-2-2013
20944059@unknown@formal@none@1@S@These were only two of a series of fabrications that had, in Judge Kozinski's words, the cumulative effect of making Mr. Masson "appear more arrogant, less sensitive, shallower, more self-aggrandizing, and less in touch with reality than he appears from his own statements."@@@@1@43@@oe@2-2-2013
20944060@unknown@formal@none@1@S@As Robert Coles wrote in a review of Ms. Malcolm's book, Mr. Masson emerges "as a grandiose egotist . . . and, in the end, a self-destructive fool.@@@@1@28@@oe@2-2-2013
20944061@unknown@formal@none@1@S@But it is not Janet Malcolm who calls him such: his own words reveal this psychological profile."@@@@1@17@@oe@2-2-2013
20944062@unknown@formal@none@1@S@We now know that the words were not always his own.@@@@1@11@@oe@2-2-2013
20944063@unknown@formal@none@1@S@"There is one sacred rule of journalism," John Hersey has said.@@@@1@11@@oe@2-2-2013
20944064@unknown@formal@none@1@S@"The writer must not invent."@@@@1@5@@oe@2-2-2013
20944065@unknown@formal@none@1@S@Should the green light Judges Alarcon and Hall have given to the fabrication of quotations become standard practice, it will notably reduce the value of journalism for historians -- and for citizens.@@@@1@32@@oe@2-2-2013
20944066@unknown@formal@none@1@S@As Judge Kozinski put it: "To invoke the right to deliberately distort what someone else has said is to assert the right to lie in print. . . .@@@@1@29@@oe@2-2-2013
20944067@unknown@formal@none@1@S@Masson has lost his case, but the defendants, and the profession to which they belong, have lost far more."@@@@1@19@@oe@2-2-2013
20944068@unknown@formal@none@1@S@The historical profession will survive these decisions.@@@@1@7@@oe@2-2-2013
20944069@unknown@formal@none@1@S@Perhaps in time the Supreme Court will correct them.@@@@1@9@@oe@2-2-2013
20944070@unknown@formal@none@1@S@But writing history is tough enough without judges gratuitously throwing obstacles in the scholar's path.@@@@1@15@@oe@2-2-2013
20944071@unknown@formal@none@1@S@Mr. Schlesinger is Albert Schweitzer professor of the humanities at the City University of New York and a winner of Pulitzer Prizes in history and biography.@@@@1@26@@oe@2-2-2013
20945001@unknown@formal@none@1@S@Hale Milgrim, 41 years old, senior vice president, marketing at Elecktra Entertainment Inc., was named president of Capitol Records Inc., a unit of this entertainment concern.@@@@1@26@@oe@2-2-2013
20945002@unknown@formal@none@1@S@Mr. Milgrim succeeds David Berman, who resigned last month.@@@@1@9@@oe@2-2-2013
20946001@unknown@formal@none@1@S@Legal controversies in America have a way of assuming a symbolic significance far exceeding what is involved in the particular case.@@@@1@21@@oe@2-2-2013
20946002@unknown@formal@none@1@S@They speak volumes about the state of our society at a given moment.@@@@1@13@@oe@2-2-2013
20946003@unknown@formal@none@1@S@It has always been so.@@@@1@5@@oe@2-2-2013
20946004@unknown@formal@none@1@S@In the 1920s, a young schoolteacher, John T. Scopes, volunteered to be a guinea pig in a test case sponsored by the American Civil Liberties Union to challenge a ban on the teaching of evolution imposed by the Tennessee Legislature.@@@@1@40@@oe@2-2-2013
20946005@unknown@formal@none@1@S@The result was a world-famous trial exposing profound cultural conflicts in American life between the "smart set," whose spokesman was H.L. Mencken, and the religious fundamentalists, whom Mencken derided as benighted primitives.@@@@1@32@@oe@2-2-2013
20946006@unknown@formal@none@1@S@Few now recall the actual outcome: Scopes was convicted and fined $100, and his conviction was reversed on appeal because the fine was excessive under Tennessee law.@@@@1@27@@oe@2-2-2013
20946007@unknown@formal@none@1@S@So it was with the Hiss case a generation later, when Alger Hiss became a lightning rod for the anxieties of the Cold War and conflicting attitudes toward the New Deal he had served.@@@@1@34@@oe@2-2-2013
20946008@unknown@formal@none@1@S@His trials aroused public passions out of all proportion to the rather banal secrets he allegedly had passed to Soviet intelligence.@@@@1@21@@oe@2-2-2013
20946009@unknown@formal@none@1@S@And so it seems to be with the case of Elizabeth Morgan, the Washington, D.C., plastic surgeon jailed in a child custody case for refusing to reveal the whereabouts of her daughter.@@@@1@32@@oe@2-2-2013
20946010@unknown@formal@none@1@S@Dr. Morgan has just emerged from the D.C. jail after more than two years' confinement for contempt of court, a heroine to her many supporters.@@@@1@25@@oe@2-2-2013
20946011@unknown@formal@none@1@S@To the rest of us, the case is a puzzle.@@@@1@10@@oe@2-2-2013
20946012@unknown@formal@none@1@S@It is what lawyers call "fact intensive."@@@@1@7@@oe@2-2-2013
20946013@unknown@formal@none@1@S@It presents no great issue of legal principle, no overriding question of family law or the law of contempt.@@@@1@19@@oe@2-2-2013
20946014@unknown@formal@none@1@S@Instead, it turns on the disputed and elusive facts of "who did what to whom."@@@@1@15@@oe@2-2-2013
20946015@unknown@formal@none@1@S@It is difficult, if not impossible, for anyone who has not pored over the thousands of pages of court pleadings and transcripts to have a worthwhile opinion on the underlying merits of the controversy.@@@@1@34@@oe@2-2-2013
20946016@unknown@formal@none@1@S@Certainly I do not.@@@@1@4@@oe@2-2-2013
20946017@unknown@formal@none@1@S@So we must look elsewhere for an explanation of the unusual power this case has exerted over the minds of many, not just in Washington but elsewhere in the country and even the world.@@@@1@34@@oe@2-2-2013
20946018@unknown@formal@none@1@S@I suggest that three themes have come together in the strange case of Dr. Morgan.@@@@1@15@@oe@2-2-2013
20946019@unknown@formal@none@1@S@The first is that it represents an intense battle in what James Thurber used to caricature as "the war between the sexes."@@@@1@22@@oe@2-2-2013
20946020@unknown@formal@none@1@S@But although Thurber did so gently and lightheartedly, many of Dr. Morgan's supporters have taken Thurber's memorable title "The Male Animal" quite literally.@@@@1@23@@oe@2-2-2013
20946021@unknown@formal@none@1@S@The vehemence of the emotions aroused by the case testifies to its symbolic importance in the war that Thurber accepted as an eternal part of the human condition.@@@@1@28@@oe@2-2-2013
20946022@unknown@formal@none@1@S@A second theme is the undercurrent of social class and race in the public reaction to the Morgan case.@@@@1@19@@oe@2-2-2013
20946023@unknown@formal@none@1@S@Dr. Morgan is a highly educated white professional who attended some of the "best" schools.@@@@1@15@@oe@2-2-2013
20946024@unknown@formal@none@1@S@As members of the Black Caucus in Congress asked during the debate on the legislation that freed Dr. Morgan, does anyone seriously believe that if she were an uneducated, black, working-class woman, Congress would have rushed to pass a private relief bill freeing her?@@@@1@44@@oe@2-2-2013
20946025@unknown@formal@none@1@S@Or that the president would have hurried to sign the bill "out of compassion for her plight"?@@@@1@17@@oe@2-2-2013
20946026@unknown@formal@none@1@S@To ask those questions is to answer them.@@@@1@8@@oe@2-2-2013
20946027@unknown@formal@none@1@S@Finally, the case of Dr. Morgan gave Congress an opportunity to act with unaccustomed decisiveness and to engage in one of its favorite pastimes -- bashing the District of Columbia government.@@@@1@31@@oe@2-2-2013
20946028@unknown@formal@none@1@S@The local government is discredited in the eyes of many residents for a variety of reasons, and congressmen read the same newspapers and watch the same TV newscasts as other people in the area do.@@@@1@35@@oe@2-2-2013
20946029@unknown@formal@none@1@S@Bashing the D.C. government is risk-free for members of Congress, who do not have to answer to their own constituents for it.@@@@1@22@@oe@2-2-2013
20946030@unknown@formal@none@1@S@Congress is paralyzed from acting on such great issues of the day as the federal budget deficit.@@@@1@17@@oe@2-2-2013
20946031@unknown@formal@none@1@S@Yet a bill tailored to the interests of a single individual passed Congress with almost unimaginable speed, before the judicial process had run its course, and, indeed, while the Morgan case was awaiting a ruling by the appellate court.@@@@1@39@@oe@2-2-2013
20946032@unknown@formal@none@1@S@The Morgan case thus tells us much more about the current state of sex, class, race and politics in our society than it does about the facts of Dr. Morgan's particular situation.@@@@1@32@@oe@2-2-2013
20946033@unknown@formal@none@1@S@It may stand as a metaphor for how wide and deep the divisions in that society continue to be however we try to deny their existence.@@@@1@26@@oe@2-2-2013
20946034@unknown@formal@none@1@S@Mr. Rezneck is a lawyer in Washington, D.C.@@@@1@8@@oe@2-2-2013
20947001@unknown@formal@none@1@S@The National Aeronautics and Space Administration said it awarded General Dynamics Corp. a $64 million contract to launch the Combined Release and Radiation Effects Satellite in June 1990.@@@@1@28@@oe@2-2-2013
20947002@unknown@formal@none@1@S@CRRES is a joint NASA-Air Force satellite to study the effects of space radiation on micro-electronic components.@@@@1@17@@oe@2-2-2013
20947003@unknown@formal@none@1@S@NASA said General Dynamics will launch CRRES using an Atlas 1 rocket.@@@@1@12@@oe@2-2-2013
20948001@unknown@formal@none@1@S@Ronald J. Taylor, 48, was named chairman of this insurance firm's reinsurance brokerage group and its major unit, G.L. Hodson & Son Inc.@@@@1@23@@oe@2-2-2013
20948002@unknown@formal@none@1@S@Robert G. Hodson, 65, retired as chairman but will remain a consultant.@@@@1@12@@oe@2-2-2013
20948003@unknown@formal@none@1@S@Stephen A. Crane, 44, senior vice president and chief financial and planning officer of the parent, was named president and chief executive of the brokerage group and the unit, succeeding Mr. Taylor.@@@@1@32@@oe@2-2-2013
20948004@unknown@formal@none@1@S@The appointments are effective Nov. 1.@@@@1@6@@oe@2-2-2013
20948005@unknown@formal@none@1@S@Corroon said it will announce a successor to Mr. Crane at a later date.@@@@1@14@@oe@2-2-2013
20949001@unknown@formal@none@1@S@An investment company said it offered to acquire Arby's Inc., the fast-food operator, for $205 million.@@@@1@16@@oe@2-2-2013
20949002@unknown@formal@none@1@S@The proposal, however, was immediately rebuffed by Arby's parent, DWG Corp.@@@@1@11@@oe@2-2-2013
20949003@unknown@formal@none@1@S@"Arby's isn't for sale," said Renee Mottram, senior vice president at DWG.@@@@1@12@@oe@2-2-2013
20949004@unknown@formal@none@1@S@The new suitor, Stevric Equity Ventures Inc., of Mineola, N.Y., characterized its proposal as the "first truly independent offer which does not pit one interest group against another within the Arby's franchisee community."@@@@1@33@@oe@2-2-2013
20949005@unknown@formal@none@1@S@In September, DWG, a Miami Beach, Fla., holding company controlled by financeer Victor Posner, rejected an offer from a group of Arby's franchisees to acquire Arby's for $200 million.@@@@1@29@@oe@2-2-2013
20949006@unknown@formal@none@1@S@Since then, a second group of franchisees has banded together to try to wrestle control of the unit from Mr. Posner.@@@@1@21@@oe@2-2-2013
20949007@unknown@formal@none@1@S@Arby's is the marketing, franchising and service company for the 2,100 restaurants in the chain.@@@@1@15@@oe@2-2-2013
20949008@unknown@formal@none@1@S@Stevric's principals, Richard and Steven Buckley, said they led the acquisition group that acquired the Nathan's Famous Inc. restaurant chain and subsequently served as the top officers of the company.@@@@1@30@@oe@2-2-2013
20949009@unknown@formal@none@1@S@Richard Buckley said Stevric's acquisition of Arby's "would allow seasoned franchisers and food-service operators, with no conflicts of interest, to stabilize franchisee relations and properly refocus the company's energies toward growth.@@@@1@31@@oe@2-2-2013
20950001@unknown@formal@none@1@S@General Motors Corp.'s big defense and automotive electronics unit, GM Hughes Electronics, said net income fell 22% in the third quarter, reflecting declining military spending and slumping GM vehicle production.@@@@1@30@@oe@2-2-2013
20950002@unknown@formal@none@1@S@Meanwhile, net at GM's finance arm, General Motors Acceptance Corp., fell 3.1%.@@@@1@12@@oe@2-2-2013
20950003@unknown@formal@none@1@S@By contrast, Electronic Data Systems Corp., GM's data processing subsidiary, boosted net 16%.@@@@1@13@@oe@2-2-2013
20950004@unknown@formal@none@1@S@GM closed down $1.875 at $44.875 in New York Stock Exchange trading yesterday.@@@@1@13@@oe@2-2-2013
20950005@unknown@formal@none@1@S@Earnings for GM common stock, reflecting the performance of GM's core automotive operations, will be disclosed this morning.@@@@1@18@@oe@2-2-2013
20950006@unknown@formal@none@1@S@GM Class H, which represents a dividend interest in Hughes earnings, closed at $29, up 25 cents in Big Board composite trading.@@@@1@22@@oe@2-2-2013
20950007@unknown@formal@none@1@S@GM Class E, which represents a dividend interest in EDS profit, fell 75 cents to $52.25 on the Big Board.@@@@1@20@@oe@2-2-2013
20950008@unknown@formal@none@1@S@The earnings drop at GM Hughes Electronics is a sign of tough times at both the defense operations of Hughes Aircraft Co. and GM's North American automotive operations, which are a primary customer for the Delco Electronics Corp. side of the GM Hughes unit.@@@@1@44@@oe@2-2-2013
20950009@unknown@formal@none@1@S@Profit at the unit fell to $110.6 million, or 37 cents a share, from $142.4 million, or 45 cents a share, largely because of a $24 million one-time charge associated with Hughes's previously announced plan to reduce employment by at least 6,000 people by year end.@@@@1@46@@oe@2-2-2013
20950010@unknown@formal@none@1@S@Even excluding the charge, however, net fell 5%.@@@@1@8@@oe@2-2-2013
20950011@unknown@formal@none@1@S@In addition, GM's North American vehicle production fell 8.4% from a year ago, which hurt Delco Electronic's earnings, a company spokesman said.@@@@1@22@@oe@2-2-2013
20950012@unknown@formal@none@1@S@That decline was reflected in revenue for the GM Hughes unit, which edged down to $2.58 billion from $2.63 billion.@@@@1@20@@oe@2-2-2013
20950013@unknown@formal@none@1@S@In the nine months, GM Hughes net fell 6.6% to $486.6 million, or $1.48 a share, from $521 million, or $1.58 a share.@@@@1@23@@oe@2-2-2013
20950014@unknown@formal@none@1@S@Revenue rose 3.5% to $8.47 billion from $8.18 billion.@@@@1@9@@oe@2-2-2013
20950015@unknown@formal@none@1@S@At GMAC, net dropped 3.1% to $234.5 million from $241.9 million.@@@@1@11@@oe@2-2-2013
20950016@unknown@formal@none@1@S@The finance unit attributed the decline to higher borrowing costs compared with a year earlier.@@@@1@15@@oe@2-2-2013
20950017@unknown@formal@none@1@S@GMAC said its automotive financing and leasing business rose 35% in the U.S., largely because of dealer and customer incentives used to boost sales.@@@@1@24@@oe@2-2-2013
20950018@unknown@formal@none@1@S@GMAC profits are combined with earnings from the rest of GM's operations and attributed to the company's traditional common stock.@@@@1@20@@oe@2-2-2013
20950019@unknown@formal@none@1@S@In the first nine months, GMAC's earnings fell 8% to $859.5 million from $930.2 million.@@@@1@15@@oe@2-2-2013
20950020@unknown@formal@none@1@S@At EDS, third-quarter profit jumped 16% to a record $110.9 million, or 93 cents a share, from $95.9 million, or 79 cents a share.@@@@1@24@@oe@2-2-2013
20950021@unknown@formal@none@1@S@Revenue rose 12% to $1.37 billion from $1.22 billion.@@@@1@9@@oe@2-2-2013
20950022@unknown@formal@none@1@S@In the nine months, EDS earned $315.8 million, or $2.62 a share, up 13% from $280.7 million, or $2.30 a share.@@@@1@21@@oe@2-2-2013
20950023@unknown@formal@none@1@S@Revenue rose 14% to $4.03 billion from $3.54 billion.@@@@1@9@@oe@2-2-2013
20950024@unknown@formal@none@1@S@Revenue from non-GM accounts was 45% of EDS's total business in the latest nine months, compared with 40% a year earlier.@@@@1@21@@oe@2-2-2013
20950025@unknown@formal@none@1@S@The company has said it wants to boost non-GM revenue to at least 50% of its total business by the end of 1990.@@@@1@23@@oe@2-2-2013
20951001@unknown@formal@none@1@S@William C. Ballard Jr., 48 years old, was elected a director of this distilled beverages concern, expanding the board to 11 members.@@@@1@22@@oe@2-2-2013
20952001@unknown@formal@none@1@S@Alvin W. Trivelpiece, director of Oak Ridge National Laboratory, Oak Ridge, Tenn., was elected a director of this optical-products concern.@@@@1@20@@oe@2-2-2013
20952002@unknown@formal@none@1@S@Mr. Trivelpiece, 58 years old, succeeds William Bolger, who died in August.@@@@1@12@@oe@2-2-2013
20953001@unknown@formal@none@1@S@In the bidding war for Public Service Co. of New Hampshire, United Illuminating Co. raised its proposed offer to one it valued at $2.29 billion from $2.19 billion, apparently topping all other bidders.@@@@1@33@@oe@2-2-2013
20953002@unknown@formal@none@1@S@The bids remain subject to evaluation by the federal bankruptcy court supervising PS of New Hampshire's reorganization.@@@@1@17@@oe@2-2-2013
20953003@unknown@formal@none@1@S@They are also indirectly subject to approval by the state of New Hampshire, where residents fear soaring rates to pay for the cost of reorganization.@@@@1@25@@oe@2-2-2013
20953004@unknown@formal@none@1@S@Each of the four parties bidding for PS of New Hampshire proposes a complex financial package to satisfy creditors and shareholders and also proposes a formula to limit rate increases to satisfy the state.@@@@1@34@@oe@2-2-2013
20953005@unknown@formal@none@1@S@The new round of bidding would seem to complicate the decision making for Judge James Yacos, the bankruptcy judge overseeing the case, because the company's stockholders, unsecured creditors and regulators each are currently backing different plans.@@@@1@36@@oe@2-2-2013
20953006@unknown@formal@none@1@S@In addition, some of the proposals are so close, that non-financial issues such as timing may play a more important role.@@@@1@21@@oe@2-2-2013
20953007@unknown@formal@none@1@S@The unsecured creditors agreed in principle to support New Haven, Conn.-based United Illuminating's new bid.@@@@1@15@@oe@2-2-2013
20953008@unknown@formal@none@1@S@They previously had backed an internal reorganization plan proposed by PS of New Hampshire.@@@@1@14@@oe@2-2-2013
20953009@unknown@formal@none@1@S@All of the bidders contemplate full payment including interest to secured creditors.@@@@1@12@@oe@2-2-2013
20953010@unknown@formal@none@1@S@United Illuminating's plan, however, offers more for unsecured creditors.@@@@1@9@@oe@2-2-2013
20953011@unknown@formal@none@1@S@Geoffrey Kalmus, counsel to the official creditors committee, said that under the United Illuminating plan, unsecured creditors would be paid in full credits and interest of about $855 million, accrued before PS of New Hampshire's Jan. 1988 filing for bankruptcy court protection.@@@@1@42@@oe@2-2-2013
20953012@unknown@formal@none@1@S@In addition, they would receive some $200 million in payments for interest since then.@@@@1@14@@oe@2-2-2013
20953013@unknown@formal@none@1@S@Mr. Kalmus said that by next July they would have accrued unpaid interest equal to $350 million.@@@@1@17@@oe@2-2-2013
20953014@unknown@formal@none@1@S@Other plans generally wouldn't pay unsecured creditors' interest accrued since the filing.@@@@1@12@@oe@2-2-2013
20953015@unknown@formal@none@1@S@Under United Illuminating's plan, a new holding company would be formed to own the two companies.@@@@1@16@@oe@2-2-2013
20953016@unknown@formal@none@1@S@It would be 72%-owned by United Illuminating holders and 28%-owned by current holders of PS of New Hampshire preferred and common stock.@@@@1@22@@oe@2-2-2013
20953017@unknown@formal@none@1@S@PS of New Hampshire preferred holders also would get certain debentures and preferred stock.@@@@1@14@@oe@2-2-2013
20953018@unknown@formal@none@1@S@United Illuminating said the preferred holders total package would equal about 60% of their claims.@@@@1@15@@oe@2-2-2013
20953019@unknown@formal@none@1@S@Common shareholders would end up owning about 6.4% of the combined company.@@@@1@12@@oe@2-2-2013
20953020@unknown@formal@none@1@S@As previously reported, Northeast Utilities, Hartford, Conn., Monday filed a bid it valued at $2.25 billion.@@@@1@16@@oe@2-2-2013
20953021@unknown@formal@none@1@S@That offer was endorsed by the shareholders committee.@@@@1@8@@oe@2-2-2013
20953022@unknown@formal@none@1@S@The other bidders, New England Electric System, Westboro, Mass., and PS of New Hampshire, didn't change the value of their bids, although PS of New Hampshire changed its rate proposal.@@@@1@30@@oe@2-2-2013
20953023@unknown@formal@none@1@S@New England Electric values its offer at $2 billion and PS of New Hampshire values its reorganization plan at $2.2 billion.@@@@1@21@@oe@2-2-2013
20953024@unknown@formal@none@1@S@The bankruptcy judge has ruled that federal bankruptcy laws could be used to circumvent state regulation.@@@@1@16@@oe@2-2-2013
20953025@unknown@formal@none@1@S@However, creditors and bidders alike concede that the state plays a major role because it could significantly delay final settlement of a plan it didn't like.@@@@1@26@@oe@2-2-2013
20953026@unknown@formal@none@1@S@The state has endorsed the New England Electric plan, which promises to limit rate increases to 4.8% annually for seven years.@@@@1@21@@oe@2-2-2013
20953027@unknown@formal@none@1@S@Northeast Utilities' plan proposes 5.5% annual increases.@@@@1@7@@oe@2-2-2013
20953028@unknown@formal@none@1@S@PS of New Hampshire amended its plan to call for two years of 5.5% rate increases followed by five years of 4.5% increases.@@@@1@23@@oe@2-2-2013
20953029@unknown@formal@none@1@S@Fuel cost adjustments could change the effective rate increases, however.@@@@1@10@@oe@2-2-2013
20953030@unknown@formal@none@1@S@Previously it had proposed seven years of 5.5% increases.@@@@1@9@@oe@2-2-2013
20953031@unknown@formal@none@1@S@United Illuminating also amended its rate plan.@@@@1@7@@oe@2-2-2013
20953032@unknown@formal@none@1@S@The new offer assumes just five years of 5.5% rate increases, to be followed by state-approved increases under the usual hearing procedure.@@@@1@22@@oe@2-2-2013
20953033@unknown@formal@none@1@S@Previously United Illuminating had also called for seven years of 5.5% increases.@@@@1@12@@oe@2-2-2013
20953034@unknown@formal@none@1@S@The bids and rate proposals generally assume the Seabrook nuclear power plant, which is completed, will go into operation.@@@@1@19@@oe@2-2-2013
20953035@unknown@formal@none@1@S@Most of the plans have reduced bids in case the plant fails to get a license from the Nuclear Regulatory Commission.@@@@1@21@@oe@2-2-2013
20953036@unknown@formal@none@1@S@In New York Stock Exchange trading, PS of New Hampshire's 17 1/2 debenture due 2004 closed yesterday at $82.50, up $2.@@@@1@21@@oe@2-2-2013
20953037@unknown@formal@none@1@S@The utility's stock closed at $4 a share, up 37.5 cents, in composite trading on the Big Board.@@@@1@18@@oe@2-2-2013
20953038@unknown@formal@none@1@S@In a separate development, PS of New Hampshire gave 60 managers severance agreements that would pay one to three years' salary if their jobs were changed or they were dismissed in the wake of a takeover.@@@@1@36@@oe@2-2-2013
20953039@unknown@formal@none@1@S@It said the maximum cost of the plan would be $9.7 million.@@@@1@12@@oe@2-2-2013
20954001@unknown@formal@none@1@S@C. Hyde Tucker will become president and chief executive officer of Bell Atlantic International Inc., a unit of this telecommunications concern, effective Jan. 1.@@@@1@24@@oe@2-2-2013
20954002@unknown@formal@none@1@S@Mr. Tucker, 56 years old, is currently vice president and chief operating officer of Bell Atlantic's C&P Telephone unit.@@@@1@19@@oe@2-2-2013
20954003@unknown@formal@none@1@S@Mr. Tucker will succeed Salvatore J. Barbera, 64, who will hold the newly created position of chairman of the international unit until his retirement April 1.@@@@1@26@@oe@2-2-2013
20955001@unknown@formal@none@1@S@Richard Breeden hadn't noticed that his new desk had just four telephone lines and one phone.@@@@1@16@@oe@2-2-2013
20955002@unknown@formal@none@1@S@It was, after all, only his second full day as chairman of the Securities and Exchange Commission.@@@@1@17@@oe@2-2-2013
20955003@unknown@formal@none@1@S@But the lack of lines became painfully apparent.@@@@1@8@@oe@2-2-2013
20955004@unknown@formal@none@1@S@As the stock market lurched into a 190-point free fall on Oct. 13, Mr. Breeden found himself scurrying around the sixth floor of the SEC -- from his desk, where the New York Stock Exchange was on an open line, to his assistant's office, where the Commodity Futures Trading Commission was connected, to a third room, where a computer monitored market moves.@@@@1@62@@oe@2-2-2013
20955005@unknown@formal@none@1@S@With other anxious calls pouring in, he recalls, "I'd either have to disconnect the New York Stock Exchange or go out to the secretary's desk."@@@@1@25@@oe@2-2-2013
20955006@unknown@formal@none@1@S@It won't happen again.@@@@1@4@@oe@2-2-2013
20955007@unknown@formal@none@1@S@Now there are more lines connected to the chairman's office, and the market-monitoring computer has been moved next to his desk.@@@@1@21@@oe@2-2-2013
20955008@unknown@formal@none@1@S@It's all part of a new "command center."@@@@1@8@@oe@2-2-2013
20955009@unknown@formal@none@1@S@The changes in the office layout illustrate Mr. Breeden's stance as the nation's top securities regulator.@@@@1@16@@oe@2-2-2013
20955010@unknown@formal@none@1@S@Like his predecessor, David Ruder, he was faced with a crisis in the stock markets soon after coming into office.@@@@1@20@@oe@2-2-2013
20955011@unknown@formal@none@1@S@But unlike Mr. Ruder, who during the 1987 crash damaged himself by saying rather offhandedly that the markets might be closed, Mr. Breeden is turning the market drop to his own advantage, using it to further his agenda for the SEC.@@@@1@41@@oe@2-2-2013
20955012@unknown@formal@none@1@S@In an interview and in congressional testimony, he repeatedly points to the recent 190-point plunge in the Dow Jones Industrial Average -- the second-largest ever -- as evidence of the need for Congress to give the SEC the ability to better monitor leveraged buy-out loan activity by brokerage firms and to track big trades in the market.@@@@1@57@@oe@2-2-2013
20955013@unknown@formal@none@1@S@A veteran of another financial crisis, the savings-and-loan bailout, Mr. Breeden wants to have the SEC regulate securities issued by banks and S&Ls.@@@@1@23@@oe@2-2-2013
20955014@unknown@formal@none@1@S@More broadly, he wants to "modernize" regulation by eliminating barriers between commercial and investment banking and by helping U.S. financial firms compete in the global market.@@@@1@26@@oe@2-2-2013
20955015@unknown@formal@none@1@S@He believes the tax code encourages the use of debt instead of stock and may fuel leveraged buy-outs, an area the SEC doesn't regulate directly but one where it wields influence both on Wall Street and in Congress.@@@@1@38@@oe@2-2-2013
20955016@unknown@formal@none@1@S@Also unlike Mr. Ruder, Mr. Breeden appears to be in a position to get somewhere with his agenda.@@@@1@18@@oe@2-2-2013
20955017@unknown@formal@none@1@S@As a former White House aide who worked closely with Congress, he is savvy in the ways of Washington.@@@@1@19@@oe@2-2-2013
20955018@unknown@formal@none@1@S@What's more, the coming months likely will offer him the opportunity to obtain his own majority on the five-member commission, enabling him to avoid the dissension that frustrated his predecessor.@@@@1@30@@oe@2-2-2013
20955019@unknown@formal@none@1@S@But Mr. Breeden, a 39-year-old securities lawyer, has skirted some of the heftier issues facing the financial markets.@@@@1@18@@oe@2-2-2013
20955020@unknown@formal@none@1@S@For instance, he hasn't stated a clear position on high-risk, high-yield junk bonds, an area of growing concern as turmoil in the junk market spills over into stocks.@@@@1@28@@oe@2-2-2013
20955021@unknown@formal@none@1@S@He may be waiting to see the results of several pending SEC studies of junk market liquidity and disclosure rules.@@@@1@20@@oe@2-2-2013
20955022@unknown@formal@none@1@S@He also has kept a close wrap on the names of people under consideration for the crucial post of enforcement director at the commission, a job vacant since the summer.@@@@1@30@@oe@2-2-2013
20955023@unknown@formal@none@1@S@Mr. Breeden's selection will be scrutinized as an important signal about the strength of his commitment to continuing the SEC's high-profile pursuit of insider trading and market manipulation on Wall Street.@@@@1@31@@oe@2-2-2013
20955024@unknown@formal@none@1@S@Congress seems likely to let the new chairman have his way for a while.@@@@1@14@@oe@2-2-2013
20955025@unknown@formal@none@1@S@Members of the Senate Banking Committee know Mr. Breeden from working on the thrift-bailout bill, and the relationship generally remains warm.@@@@1@21@@oe@2-2-2013
20955026@unknown@formal@none@1@S@Indeed, during Mr. Breeden's confirmation hearing last month, senators asked him to introduce his children three separate times -- more often than they asked about his qualifications for the job.@@@@1@30@@oe@2-2-2013
20955027@unknown@formal@none@1@S@These days, Mr. Breeden is winning praise in Washington and on Wall Street for his behind-the-scenes role in monitoring the Friday-the-13th market plunge and the following Monday's harrowing morning session.@@@@1@30@@oe@2-2-2013
20955028@unknown@formal@none@1@S@As a regulator charged with restoring investor confidence, Mr. Breeden avoided making market-jarring comments and worked to gather information critical to Wall Street and to other government agencies.@@@@1@28@@oe@2-2-2013
20955029@unknown@formal@none@1@S@Not everyone has jumped on the Breeden bandwagon, however.@@@@1@9@@oe@2-2-2013
20955030@unknown@formal@none@1@S@Some in Washington contend that it's too soon to tell whether Mr. Breeden will help or hinder the SEC.@@@@1@19@@oe@2-2-2013
20955031@unknown@formal@none@1@S@"I don't think this was a real test," says one congressional aide.@@@@1@12@@oe@2-2-2013
20955032@unknown@formal@none@1@S@"It was a fairly stressful weekend, but my sense is if you hadn't had Richard Breeden there, it wouldn't have made much of a difference."@@@@1@25@@oe@2-2-2013
20955033@unknown@formal@none@1@S@For some at the SEC, an agency that covets its independence, Mr. Breeden may be too much of a Washington insider.@@@@1@21@@oe@2-2-2013
20955034@unknown@formal@none@1@S@They note that he has adorned his office with five photos of George Bush, one of them featuring the First Dog, Millie.@@@@1@22@@oe@2-2-2013
20955035@unknown@formal@none@1@S@They worry that Mr. Breeden also will roll over when told to do so by the White House.@@@@1@18@@oe@2-2-2013
20955036@unknown@formal@none@1@S@But Mr. Breeden already has shown an eagerness to run the SEC his way.@@@@1@14@@oe@2-2-2013
20955037@unknown@formal@none@1@S@During the Monday market rebound, a New York exchange spokesman told Cable News Network viewers that the industrial average had turned down 70 points.@@@@1@24@@oe@2-2-2013
20955038@unknown@formal@none@1@S@Stunned, Mr. Breeden turned to his market-monitoring computer, which by then was next to his desk.@@@@1@16@@oe@2-2-2013
20955039@unknown@formal@none@1@S@It showed the DJIA up 30 points.@@@@1@7@@oe@2-2-2013
20955040@unknown@formal@none@1@S@SEC staffers soon determined that a widely watched stock-market service, Quotron, had miscalculated the industrial average.@@@@1@16@@oe@2-2-2013
20955041@unknown@formal@none@1@S@Mr. Breeden instructed SEC staffers to inform the network that it was airing the wrong number.@@@@1@16@@oe@2-2-2013
20955042@unknown@formal@none@1@S@"It was the plunge that didn't happen," he says.@@@@1@9@@oe@2-2-2013
20955043@unknown@formal@none@1@S@Mr. Breeden also is trying to use a far more catastrophic event -- the California earthquake -- to move another rule change past Congress.@@@@1@24@@oe@2-2-2013
20955044@unknown@formal@none@1@S@That disaster closed the Pacific Stock Exchange's stock options-trading operation, forcing those options to be switched to other exchanges temporarily.@@@@1@20@@oe@2-2-2013
20955045@unknown@formal@none@1@S@Though obscure to most investors, the question of whether to list options on more than one exchange has aroused much interest in Congress, mainly because regional exchanges fear the change could bankrupt them.@@@@1@33@@oe@2-2-2013
20955046@unknown@formal@none@1@S@Congressmen raised the issue yesterday at a hearing.@@@@1@8@@oe@2-2-2013
20955047@unknown@formal@none@1@S@Mr. Breeden, not missing a chance to press his agenda, cited the earthquake.@@@@1@13@@oe@2-2-2013
20955048@unknown@formal@none@1@S@That event, he contended, simply shows the "vulnerability" of having listings on only one exchange.@@@@1@15@@oe@2-2-2013
20956001@unknown@formal@none@1@S@In a corner of the cavernous, new Nippon Convention Center sits Mazda Motor Corp.'s advanced-technology display.@@@@1@16@@oe@2-2-2013
20956002@unknown@formal@none@1@S@The highlight: a "fragrance control system."@@@@1@6@@oe@2-2-2013
20956003@unknown@formal@none@1@S@With the touch of a button, drivers can choose from lavender, jasmine, mint or perfume scents, all blown in through the car's air-conditioning system.@@@@1@24@@oe@2-2-2013
20956004@unknown@formal@none@1@S@The soft, wafting aromas will "improve ride comfort," the display attests, and a proud employee says Mazda hopes to move the system out of the lab and into its cars in a year or two.@@@@1@35@@oe@2-2-2013
20956005@unknown@formal@none@1@S@Welcome to the 28th Tokyo Motor Show.@@@@1@7@@oe@2-2-2013
20956006@unknown@formal@none@1@S@Here you can find Mitsubishi Motors Corp. displaying a "live fish transporter," a truck akin to an aquarium on wheels, and Nissan Motor Co. with its "keyless" Boga, whose doors unlock upon recognizing the owner's fingerprints.@@@@1@36@@oe@2-2-2013
20956007@unknown@formal@none@1@S@Suzuki Motor Co.'s Escudome sport vehicle features a pop-out rear tent and invites drivers to go "back to the nature."@@@@1@20@@oe@2-2-2013
20956008@unknown@formal@none@1@S@But this biennial event, the world's largest display of cars and trucks, has its serious side, including the first major exhibitions of future engines and vehicle-suspension systems.@@@@1@27@@oe@2-2-2013
20956009@unknown@formal@none@1@S@It's also the prime showcase for a country whose world dominance in the industry is increasingly acknowledged, and therein lies the draw.@@@@1@22@@oe@2-2-2013
20956010@unknown@formal@none@1@S@Even the biggest auto shows in the U.S. are largely regional affairs, but the Tokyo show is international.@@@@1@18@@oe@2-2-2013
20956011@unknown@formal@none@1@S@Virtually every automotive analyst in New York showed up.@@@@1@9@@oe@2-2-2013
20956012@unknown@formal@none@1@S@Detroit-to-Tokyo flights were booked solid this week as Motor City executives, including Ford Motor Co. Chairman Donald E. Petersen and Chrysler Corp. Vice Chairman Gerald Greenwald, flocked to see the future.@@@@1@31@@oe@2-2-2013
20956013@unknown@formal@none@1@S@Even the Soviet Union came, for the first time in 24 years, to show off its Lada Niva sedan and its futuristic dark-blue "Kompakt" model.@@@@1@25@@oe@2-2-2013
20956014@unknown@formal@none@1@S@Here's a firsthand look at what the Japanese hosts sported, and what the foreign visitors saw.@@@@1@16@@oe@2-2-2013
20956015@unknown@formal@none@1@S@New Technology@@@@1@2@@oe@2-2-2013
20956016@unknown@formal@none@1@S@The hottest displays were items that insulate passengers from bumps, potholes and other rigors of the road.@@@@1@17@@oe@2-2-2013
20956017@unknown@formal@none@1@S@These "active suspension systems" electronically sense road conditions and adjust a car's ride.@@@@1@13@@oe@2-2-2013
20956018@unknown@formal@none@1@S@Existing suspension systems try to absorb bounces, but active suspension provides power to counter the jolts.@@@@1@16@@oe@2-2-2013
20956019@unknown@formal@none@1@S@Nissan, in a 34-page tract, modestly compares its "hydraulic active suspension" to a cheetah, and equates the various parts to the animal's heart, brain, nerves and blood vessels.@@@@1@28@@oe@2-2-2013
20956020@unknown@formal@none@1@S@Toyota Motor Corp. grandly touted its system in a car that splits in half to reveal the suspension's inner workings.@@@@1@20@@oe@2-2-2013
20956021@unknown@formal@none@1@S@Nissan says it will introduce its first system next month on the Infiniti Q45 luxury sedan, and Toyota's Celica coupe will go on sale with the suspension device next spring.@@@@1@30@@oe@2-2-2013
20956022@unknown@formal@none@1@S@But drivers in the U.S. must wait: The Japanese, for now, are keeping active suspension for domestic use only.@@@@1@19@@oe@2-2-2013
20956023@unknown@formal@none@1@S@And Detroit's Big Three auto makers say their systems are still under development.@@@@1@13@@oe@2-2-2013
20956024@unknown@formal@none@1@S@In the engine department, several companies displayed experimental models that within a decade could provide power equal to today's engines and yet take up only half the space, allowing for shorter hoods.@@@@1@32@@oe@2-2-2013
20956025@unknown@formal@none@1@S@In the so-called two-stroke engines, which are expected to get sharply higher gas mileage, each piston goes up and down only once to provide power.@@@@1@25@@oe@2-2-2013
20956026@unknown@formal@none@1@S@By contrast, the pistons in conventional four-stroke engines must move up and down twice in each power cycle.@@@@1@18@@oe@2-2-2013
20956027@unknown@formal@none@1@S@The two-stroke engine displays by Toyota and Fuji Heavy Industries, the maker of Subaru cars, drew plenty of interest from U.S. auto executives, who are rushing to develop two-stroke engines.@@@@1@30@@oe@2-2-2013
20956028@unknown@formal@none@1@S@Honda Motor Co. shows a more conventional five-cylinder engine in the new Accord Inspire model, which made its debut just this month -- in Japan only.@@@@1@26@@oe@2-2-2013
20956029@unknown@formal@none@1@S@Honda says the five-cylinder engine provides a compromise between the fuel-economy of a four-cylinder, and the power of a V-6.@@@@1@20@@oe@2-2-2013
20956030@unknown@formal@none@1@S@It is rumored to be bound for a new model in the luxury Acura line in the U.S., but Honda officials wouldn't comment.@@@@1@23@@oe@2-2-2013
20956031@unknown@formal@none@1@S@Odd Cars, Funny Names@@@@1@4@@oe@2-2-2013
20956032@unknown@formal@none@1@S@There's plenty of whimsy here, but it isn't always clear whether it's intentional.@@@@1@13@@oe@2-2-2013
20956033@unknown@formal@none@1@S@The show's symbol is a woman riding on a snail, not your usual metaphor for speed and agility.@@@@1@18@@oe@2-2-2013
20956034@unknown@formal@none@1@S@But the sponsors have an explanation: "Through the character associated with a snail," they say, "important values such as harmony with nature and aspirations for the future are sought."@@@@1@29@@oe@2-2-2013
20956035@unknown@formal@none@1@S@Japanese auto makers are known for coming up with funny names, but this year the practice seems to have reached a new high -- or low.@@@@1@26@@oe@2-2-2013
20956036@unknown@formal@none@1@S@Honda has a tiny motorcycle called the Monkey, and a slightly larger cousin, the Gorilla.@@@@1@15@@oe@2-2-2013
20956037@unknown@formal@none@1@S@Mitsubishi has a futuristic delivery truck called the Guppy.@@@@1@9@@oe@2-2-2013
20956038@unknown@formal@none@1@S@Mazda has the Bongo truck and, under its Autozam nameplate, a "microvan" called the Scrum.@@@@1@15@@oe@2-2-2013
20956039@unknown@formal@none@1@S@Its buglike Carol minicar is "designed with softness, gentleness and warmheartedness."@@@@1@11@@oe@2-2-2013
20956040@unknown@formal@none@1@S@But the court jester appears to be Japan's smallest car maker, Daihatsu Motor Co.@@@@1@14@@oe@2-2-2013
20956041@unknown@formal@none@1@S@One of its futuristic concepts is the bubblelike Sneaker, which seats just one person in front and could hold a small child and bag of groceries in the rear.@@@@1@29@@oe@2-2-2013
20956042@unknown@formal@none@1@S@Daihatsu also has the Fellow 90, the Leeza Spider and the Hijet Dumbo.@@@@1@13@@oe@2-2-2013
20956043@unknown@formal@none@1@S@The jokes aren't just on the Japanese, though.@@@@1@8@@oe@2-2-2013
20956044@unknown@formal@none@1@S@Regie Nationale des Usines Renault, the French auto maker, has a concept car called the Megane.@@@@1@16@@oe@2-2-2013
20956045@unknown@formal@none@1@S@The name is supposed to connote feminine grandeur, but in Japanese it means "eyeglasses."@@@@1@14@@oe@2-2-2013
20956046@unknown@formal@none@1@S@Foreign Presence@@@@1@2@@oe@2-2-2013
20956047@unknown@formal@none@1@S@Foreign auto makers are taking the Tokyo Motor Show more seriously than ever.@@@@1@13@@oe@2-2-2013
20956048@unknown@formal@none@1@S@AB Volvo invites passers-by to play "the role of the test dummy" by hopping in a car that simulates a crash to show just how its seat-belt tightener works.@@@@1@29@@oe@2-2-2013
20956049@unknown@formal@none@1@S@Hyundai Motor Co. of South Korea has its first-ever exhibit in Tokyo.@@@@1@12@@oe@2-2-2013
20956050@unknown@formal@none@1@S@General Motors Corp. is sponsoring its first independent display in 10 years, and it includes a boxy Buick station wagon with wood-grain side panels.@@@@1@24@@oe@2-2-2013
20956051@unknown@formal@none@1@S@Ford and Chrysler also have exhibits, although theirs are tucked in a separate room with the less-popular automotive parts section.@@@@1@20@@oe@2-2-2013
20956052@unknown@formal@none@1@S@"We've got to get out of the Detroit mentality and be part of the world mentality," declares Charles M. Jordan, GM's vice president for design, in explaining his pilgrimage to the Tokyo Show.@@@@1@33@@oe@2-2-2013
20956053@unknown@formal@none@1@S@Even so, traditional American cockiness isn't terribly endangered.@@@@1@8@@oe@2-2-2013
20956054@unknown@formal@none@1@S@Ford officials, for example, crowed about their first-ever Tokyo Grand Prix racing victory.@@@@1@13@@oe@2-2-2013
20956055@unknown@formal@none@1@S@True, Ford was declared the winner Sunday, but only after the Honda driver who crossed the finish line first was disqualified because it hit another car and skid momentarily out of bounds.@@@@1@32@@oe@2-2-2013
20956056@unknown@formal@none@1@S@Mr. Jordan of GM, meanwhile, still criticizes Japanese styling.@@@@1@9@@oe@2-2-2013
20956057@unknown@formal@none@1@S@"It's hard for the Japanese," he says, "to get a feeling in a car, to get a passion in a car, to get emotion in a car.@@@@1@27@@oe@2-2-2013
20957001@unknown@formal@none@1@S@Regarding your Sept. 28 Politics & Policy column on the party differences over cutting capital gains or expanding IRAs: Why not compromise now and save the public from the coming infantile congressional political rhetoric that seems to go hand in hand with the process?@@@@1@44@@oe@2-2-2013
20957002@unknown@formal@none@1@S@The Republicans maintain that a 30% capital-gains exclusion will raise revenue in the short term and spur economic investment, while the Democrats maintain that an increase in the top income-tax rate and expanded IRAs will raise revenue and spur savings.@@@@1@40@@oe@2-2-2013
20957003@unknown@formal@none@1@S@This is a classic example of the old saying, "The whole is greater than the sum of its parts."@@@@1@19@@oe@2-2-2013
20957004@unknown@formal@none@1@S@It's ridiculous for a family with taxable income of $50,000 to pay the same 28% incremental tax rate as a family with taxable income of $250,000.@@@@1@26@@oe@2-2-2013
20957005@unknown@formal@none@1@S@The 33% bracket should apply to all income over the applicable level, not just the 5% rate adjustment amount.@@@@1@19@@oe@2-2-2013
20957006@unknown@formal@none@1@S@It's equally ridiculous not to provide a capital investment or retirement-savings tax incentive.@@@@1@13@@oe@2-2-2013
20957007@unknown@formal@none@1@S@Jeffrey T. Schmidlin@@@@1@3@@oe@2-2-2013
20958001@unknown@formal@none@1@S@PWA Corp. said it plans to sell by spring 1992 all 15 passenger planes it acquired earlier this year in its 248 million Canadian dollar (US$211.6 million) purchase of Wardair Inc.@@@@1@31@@oe@2-2-2013
20958002@unknown@formal@none@1@S@PWA, which recently merged Wardair's operations with those of PWA-owned Canadian Airlines International Ltd., Canada's second-biggest airline, said the proposed sale is part of a revised five-year plan aimed at streamlining its fleet and shedding debt.@@@@1@36@@oe@2-2-2013
20958003@unknown@formal@none@1@S@PWA wouldn't estimate the value of Wardair's aircraft, which include 12 Airbus A310-300s and three Boeing 747-100s.@@@@1@17@@oe@2-2-2013
20958004@unknown@formal@none@1@S@But James Ireland, a Miami-based technical analyst with Avmark Inc., an aircraft evaluation firm, estimated the total "half-life" value of the 15 planes at about $650 million or more.@@@@1@29@@oe@2-2-2013
20958005@unknown@formal@none@1@S@Mr. Ireland said 11 DC10-30 aircraft that PWA also said it plans to sell, beginning in 1992, have a current half-life value of about $34 million each, or a total $374 million, raising aggregate potential proceeds from the aircraft sale to about $1.02 billion.@@@@1@44@@oe@2-2-2013
20958006@unknown@formal@none@1@S@Mr. Ireland said current demand for used aircraft is strong, partly because surging orders for new aircraft have lengthened waiting lists.@@@@1@21@@oe@2-2-2013
20958007@unknown@formal@none@1@S@He predicted that PWA would have little difficulty attracting prospective buyers.@@@@1@11@@oe@2-2-2013
20958008@unknown@formal@none@1@S@Under its revised fleet plan, PWA said it will also increase its existing fleet of eight Boeing 767-300ER aircraft to 18 by 1994, and add four more Boeing 747-400s by 1994 to the two units that it previously planned to add by next year.@@@@1@44@@oe@2-2-2013
20958009@unknown@formal@none@1@S@PWA said two of the Boeing 767-300ER aircraft scheduled for delivery in 1990 would be leased out for two to five years.@@@@1@22@@oe@2-2-2013
20958010@unknown@formal@none@1@S@PWA didn't disclose the expected net cost of the fleet overhaul, but a Toronto-based analyst estimated it at about $450 million (US), excluding replacement costs for the 11 DC10-30 aircraft that PWA plans to sell, and purchase costs for as many as 17 Airbus 320-200 aircraft that PWA previously ordered.@@@@1@50@@oe@2-2-2013
20958011@unknown@formal@none@1@S@"I don't see this as a debt reduction exercise.@@@@1@9@@oe@2-2-2013
20958012@unknown@formal@none@1@S@It's focused on streamlining" PWA's fleet in a bid to cut training and aircraft servicing costs, the analyst said.@@@@1@19@@oe@2-2-2013
20958013@unknown@formal@none@1@S@PWA's long-term debt and capital lease obligations rose to C$1.24 billion at the end of the second quarter, nearly double the year-earlier figure, reflecting debt absorbed under the Wardair purchase.@@@@1@30@@oe@2-2-2013
20958014@unknown@formal@none@1@S@PWA said it also expects to announce by Tuesday whether it will take delivery of all 17 Airbus 320-200 aircraft it previously ordered.@@@@1@23@@oe@2-2-2013
20958015@unknown@formal@none@1@S@The first five leased units were to be delivered in 1991.@@@@1@11@@oe@2-2-2013
20959001@unknown@formal@none@1@S@This British banking and financial-services group's investment-banking arm, Barclays de Zoete Wedd Group, announced the following appointments at its merchant-banking subsidiary Barclays de Zoete Wedd Ltd.@@@@1@26@@oe@2-2-2013
20959002@unknown@formal@none@1@S@John Padovan, 51 years old, was named a deputy chairman.@@@@1@10@@oe@2-2-2013
20959003@unknown@formal@none@1@S@Mr. Padovan is currently a director at Barclays de Zoete Wedd Ltd.@@@@1@12@@oe@2-2-2013
20959004@unknown@formal@none@1@S@Graham Pimlott, 40, was named to the new post of chief executive officer of the merchant-banking corporate-finance division.@@@@1@18@@oe@2-2-2013
20959005@unknown@formal@none@1@S@Callum McCarthy, 45, was named to the new post of deputy head of the corporate-finance division and a managing director.@@@@1@20@@oe@2-2-2013
20959006@unknown@formal@none@1@S@Mr. Pimlott and Mr. McCarthy join Barclay's from Kleinwort Benson Ltd. where they served as directors.@@@@1@16@@oe@2-2-2013
20960001@unknown@formal@none@1@S@The recent bids for United and American Airlines have led Congress to move with supersonic speed to protect incumbent airline managements.@@@@1@21@@oe@2-2-2013
20960002@unknown@formal@none@1@S@The House is scheduled to vote today on an anti-airline-takeover bill that would block, for up to 50 days, any bid for 15% or more of a U.S. airline, even a straight cash purchase.@@@@1@34@@oe@2-2-2013
20960003@unknown@formal@none@1@S@Transportation Secretary Sam Skinner, who earlier fueled the anti-takeover fires with his quasi-xenophobic attacks on foreign investment in U.S. carriers, now says the bill would further disturb the jittery capital markets.@@@@1@31@@oe@2-2-2013
20960004@unknown@formal@none@1@S@Texas Rep. Steve Bartlett, who has 40,000 American Airlines workers in his district, says the bill is "good politics, but bad law."@@@@1@22@@oe@2-2-2013
20960005@unknown@formal@none@1@S@It is ironic that at a time when America's partial airline deregulation is being emulated by governments from New Zealand to Ethiopia, so many in Congress favor an incumbent-protection program for airlines that would be more appropriate for the Soviet airline, Aeroflot.@@@@1@42@@oe@2-2-2013
20961001@unknown@formal@none@1@S@Federal Reserve Chairman Alan Greenspan told Congress that the Fed can wipe out inflation without causing a recession, but he said doing so will inflict some short-term pain and will require reducing the federal deficit sharply.@@@@1@36@@oe@2-2-2013
20961002@unknown@formal@none@1@S@Mr. Greenspan said he and other Fed governors endorse a bill by Rep. Stephen Neal (D., N.C.) that would require the Fed to pursue policies aimed at eliminating inflation within five years.@@@@1@32@@oe@2-2-2013
20961003@unknown@formal@none@1@S@"Such a deadline is attainable, but it would have costs," Mr. Greenspan told Rep. Neal's monetary policy subcommittee.@@@@1@18@@oe@2-2-2013
20961004@unknown@formal@none@1@S@The Fed chief opposed a bill-introduced by Reps. Lee Hamilton (D., Ind.) and Byron Dorgan (D., N.D.) -- that, among other things, would require the Fed to disclose all monetary policy moves immediately and increase outside scrutiny of the Fed.@@@@1@40@@oe@2-2-2013
20961005@unknown@formal@none@1@S@In responding to questions, Mr. Greenspan played down reports of tension between the Fed and the Treasury over exchange-rate policy.@@@@1@20@@oe@2-2-2013
20961006@unknown@formal@none@1@S@"What seem to be interpreted as great conflicts are relatively minor issues of tactics," he said.@@@@1@16@@oe@2-2-2013
20961007@unknown@formal@none@1@S@He didn't elaborate.@@@@1@3@@oe@2-2-2013
20961008@unknown@formal@none@1@S@But the Fed isn't enthusiastic about Treasury efforts to bring down the value of the dollar through intervention in foreign-exchange markets, and the Treasury is frustrated at the Fed's reluctance to cut interest rates to pull down the dollar's value.@@@@1@40@@oe@2-2-2013
20961009@unknown@formal@none@1@S@Mr. Greenspan said the inflation rate, currently about 4 1/2%, "could be brought down to levels which are close to zero without putting the economy into a recession, but I do suspect that there might be some modest loss of economic output."@@@@1@42@@oe@2-2-2013
20961010@unknown@formal@none@1@S@In other words, economic growth would be lower and unemployment would be higher for a few years.@@@@1@17@@oe@2-2-2013
20961011@unknown@formal@none@1@S@But Mr. Greenspan, who has repeatedly said the Fed's goal is to reduce inflation, added that "whatever losses are incurred in the pursuing of price stability would surely be more than made up in increased output thereafter."@@@@1@37@@oe@2-2-2013
20961012@unknown@formal@none@1@S@He warned that Fed efforts to conquer inflation would fail -- and could produce "a major financial crunch" -- unless they are accompanied by a significant reduction in the federal deficit, which causes the government to borrow heavily.@@@@1@38@@oe@2-2-2013
20961013@unknown@formal@none@1@S@Rep. Neal's bill originally called on the Fed to reduce the inflation rate by one percentage point a year for five years and to maintain a zero inflation rate thereafter.@@@@1@30@@oe@2-2-2013
20961014@unknown@formal@none@1@S@He altered the wording to win Mr. Greenspan's endorsement.@@@@1@9@@oe@2-2-2013
20961015@unknown@formal@none@1@S@Even so, his bill is given little chance of passage.@@@@1@10@@oe@2-2-2013
20961016@unknown@formal@none@1@S@Reps. Hamilton and Dorgan also have altered their bill, dropping a proposal to add the Treasury secretary to the 12-member Fed committee that makes monetary policy.@@@@1@26@@oe@2-2-2013
20961017@unknown@formal@none@1@S@Instead, the bill simply calls for twice-a-year meetings between the committee and top administration officials.@@@@1@15@@oe@2-2-2013
20961018@unknown@formal@none@1@S@Even that met with Mr. Greenspan's disapproval because it might subject the Fed "to a more intensely political perspective" and "could risk bending monetary policy away from long-term strategic goals."@@@@1@30@@oe@2-2-2013
20961019@unknown@formal@none@1@S@While each of the Hamilton-Dorgan proposals represents only a small step, together they would erode the Fed's independence, Mr. Greenspan said.@@@@1@21@@oe@2-2-2013