20961020@unknown@formal@none@1@S@Mr. Greenspan also said that although he favors cutting capital-gains taxes as sound economic policy, he would oppose such a move if it would undo the political compromise embodied in the Tax Reform Act of 1986 and result in higher marginal income tax rates.@@@@1@44@@oe@2-2-2013
20962001@unknown@formal@none@1@S@Sears, Roebuck & Co. signed a contract with Bob Vila, the former host of the popular public television program "This Old House," to star in a half-hour home improvement show sponsored by the giant retailer.@@@@1@35@@oe@2-2-2013
20962002@unknown@formal@none@1@S@The do-it-yourself show, slated to start airing by June 1990, marks Sears's entry into the burgeoning market of home repair television programs and could bolster sales of its home improvement products.@@@@1@31@@oe@2-2-2013
20962003@unknown@formal@none@1@S@In recent months, sales of home improvement items have sagged, along with sales of other big ticket durable goods.@@@@1@19@@oe@2-2-2013
20962004@unknown@formal@none@1@S@The show also signals Mr. Vila's return as a television celebrity.@@@@1@11@@oe@2-2-2013
20962005@unknown@formal@none@1@S@Earlier this year, public television station WGBH in Boston fired Mr. Vila after a sponsor protested some of his numerous commercial endorsements.@@@@1@22@@oe@2-2-2013
20962006@unknown@formal@none@1@S@With Mr. Vila as host, "This Old House" became one of the Public Broadcasting Service's top 10 programs, airing weekly on about 300 of the network's stations and seen by an average of 12 million viewers.@@@@1@36@@oe@2-2-2013
20962007@unknown@formal@none@1@S@But Home Depot Inc., an Atlanta-based home center chain, objected when Mr. Vila started doing commercial endorsements for Rickel Home Centers, a New Jersey building supply company that competes with Home Depot in some markets.@@@@1@35@@oe@2-2-2013
20962008@unknown@formal@none@1@S@"I'm ecstatic about the change," said Mr. Vila, whose new syndicated program is called "Home Again with Bob Vila."@@@@1@19@@oe@2-2-2013
20962009@unknown@formal@none@1@S@In an interview, Mr. Vila criticized his old show, which is continuing with a new host.@@@@1@16@@oe@2-2-2013
20962010@unknown@formal@none@1@S@"Public TV is in fantasy land," he said.@@@@1@8@@oe@2-2-2013
20962011@unknown@formal@none@1@S@"Last season, we did a story that involved spending $700,000 in converting a two-family house into a bed and breakfast."@@@@1@20@@oe@2-2-2013
20962012@unknown@formal@none@1@S@In the new show, he said, "we're going to spend $60,000 building a start-up house" for a young couple.@@@@1@19@@oe@2-2-2013
20962013@unknown@formal@none@1@S@While Sears wouldn't comment on the brouhaha over Mr. Vila's commercial endorsements, it appears to be building a fence around Mr. Vila's affections.@@@@1@23@@oe@2-2-2013
20962014@unknown@formal@none@1@S@His contract makes him "exclusive" spokesman for Sears's home improvement marketing campaigns.@@@@1@12@@oe@2-2-2013
20962015@unknown@formal@none@1@S@Ogilvy & Mather in Chicago, a unit of WPP Group PLC, will handle the advertising account and syndication.@@@@1@18@@oe@2-2-2013
20962016@unknown@formal@none@1@S@The only other endorsement permitted by the contract involves a series of Time-Life home improvement and repair books.@@@@1@18@@oe@2-2-2013
20962017@unknown@formal@none@1@S@His other agreements to promote products have expired.@@@@1@8@@oe@2-2-2013
20962018@unknown@formal@none@1@S@Little matter for Mr. Vila, who complains that "public TV never paid me more than $40,000 a year."@@@@1@18@@oe@2-2-2013
20962019@unknown@formal@none@1@S@He said his compensation under the Sears contract is "a multimillion dollar deal.@@@@1@13@@oe@2-2-2013
20963001@unknown@formal@none@1@S@Eugene A. Miller, 52 years old, was elected a director of this electric utility company, filling a vacancy.@@@@1@18@@oe@2-2-2013
20963002@unknown@formal@none@1@S@He is president and chief executive officer of Comerica Inc. in Detroit.@@@@1@12@@oe@2-2-2013
20964001@unknown@formal@none@1@S@The White House has decided to push for changes in pesticide law that are designed to speed the removal of harmful chemicals from the nation's food supply.@@@@1@27@@oe@2-2-2013
20964002@unknown@formal@none@1@S@The proposed changes, which are scheduled to be announced today, would apply to pesticides and other substances found on fresh and processed foods, according to federal officials.@@@@1@27@@oe@2-2-2013
20964003@unknown@formal@none@1@S@Environmental groups have been calling for faster action on dangerous pesticides and may welcome part of the proposal.@@@@1@18@@oe@2-2-2013
20964004@unknown@formal@none@1@S@But they are already objecting to, among other things, a plan to give more weight to cost-benefit considerations in evaluating pesticides.@@@@1@21@@oe@2-2-2013
20964005@unknown@formal@none@1@S@"It's a tremendous disappointment," said Janet Hathaway, an attorney with the Natural Resources Defense Council.@@@@1@15@@oe@2-2-2013
20964006@unknown@formal@none@1@S@"Allowing the EPA to condone continued use of a chemical whenever the benefits outweigh the risks is absolutely anathema to the environmental community."@@@@1@23@@oe@2-2-2013
20964007@unknown@formal@none@1@S@The Bush administration plans to announce a series of principles and to work with congressional leaders in writing specific legislative proposals that embody them.@@@@1@24@@oe@2-2-2013
20964008@unknown@formal@none@1@S@The principles would give the Environmental Protection Agency increased authority and flexibility in regulating pesticides, with the aim of enabling the agency to move more quickly.@@@@1@26@@oe@2-2-2013
20964009@unknown@formal@none@1@S@There already are proposals pending in Congress to overhaul pesticide law.@@@@1@11@@oe@2-2-2013
20964010@unknown@formal@none@1@S@Moves to accelerate the removal of dangerous pesticides gained new impetus during this year's Alar scare, when the EPA was harshly criticized for failing to yank the possible carcinogen, a growth regulator used to make apples redder and crunchier.@@@@1@39@@oe@2-2-2013
20964011@unknown@formal@none@1@S@The agency has since acted to remove Alar from the nation's grocery shelves by May 31, 1991, and the apple industry has said that growers already have stopped using the chemical.@@@@1@31@@oe@2-2-2013
20964012@unknown@formal@none@1@S@In addition, the principles attempt to eliminate the so-called Delaney Paradox.@@@@1@11@@oe@2-2-2013
20964013@unknown@formal@none@1@S@Under the Delaney clause, which applies to processed food, a chemical is banned if it causes cancer in laboratory animals.@@@@1@20@@oe@2-2-2013
20964014@unknown@formal@none@1@S@Under other laws applying to pesticide use, however, that same chemical could be allowed to be used on fresh food if it fell within the EPA's tolerance level.@@@@1@28@@oe@2-2-2013
20964015@unknown@formal@none@1@S@Among other changes, the White House wants to:@@@@1@8@@oe@2-2-2013
20964016@unknown@formal@none@1@S@-- Give the EPA more flexibility to declare a pesticide an imminent hazard and pull it from the marketplace.@@@@1@19@@oe@2-2-2013
20964017@unknown@formal@none@1@S@-- Speed up the process for removing a pesticide that isn't an imminent hazard.@@@@1@14@@oe@2-2-2013
20964018@unknown@formal@none@1@S@-- Bar states from setting more stringent tolerance levels for a pesticide once the federal government has set a standard.@@@@1@20@@oe@2-2-2013
20964019@unknown@formal@none@1@S@-- Give the EPA added discretion to set "negligible risk" levels for pesticide residues in processed food.@@@@1@17@@oe@2-2-2013
20964020@unknown@formal@none@1@S@Chemicals that exceed these risk levels would be barred, but those that fall below these levels would be allowed.@@@@1@19@@oe@2-2-2013
20964021@unknown@formal@none@1@S@-- Allow the EPA to permit the continued use of pesticides that exceed its negligible risk standard if the benefits of doing so outweigh the cost.@@@@1@26@@oe@2-2-2013
20965001@unknown@formal@none@1@S@Financial markets took a midweek break from their recent wild gyrations with stock prices falling modestly, bond prices posting tiny gains and the dollar almost unchanged.@@@@1@26@@oe@2-2-2013
20965002@unknown@formal@none@1@S@The Dow Jones Industrial Average lost 5.94 points to 2653.28 in moderate trading.@@@@1@13@@oe@2-2-2013
20965003@unknown@formal@none@1@S@Long-term Treasury bonds rose slightly despite the arrival on the market of $4.52 billion in 30-year bonds offered by the Resolution Funding Corp. as part of the government's bailout of the savings and loan industry.@@@@1@35@@oe@2-2-2013
20965004@unknown@formal@none@1@S@The dollar was barely changed against the West German mark and up marginally against the Japanese yen.@@@@1@17@@oe@2-2-2013
20965005@unknown@formal@none@1@S@Yesterday's sluggish action was in marked contrast to the rearing and plunging of stock prices Tuesday after the proposed buy-out of UAL Corp. once again collapsed.@@@@1@26@@oe@2-2-2013
20965006@unknown@formal@none@1@S@Traders said the stock market's lurching moves have prompted many investors to head for the sidelines until it regains some semblance of stability.@@@@1@23@@oe@2-2-2013
20965007@unknown@formal@none@1@S@Although bond prices weren't as volatile on Tuesday trading as stock prices, traders nevertheless said action also was much slower yesterday in the Treasury market.@@@@1@25@@oe@2-2-2013
20965008@unknown@formal@none@1@S@Bond investors paid close attention to comments by Federal Reserve Chairman Alan Greenspan, who was testifying before a congressional hearing, but weren't able to extract many clues about the future course of the Fed's monetary policy.@@@@1@36@@oe@2-2-2013
20965009@unknown@formal@none@1@S@Many analysts are expecting the Fed to lower interest rates at least once more before the end of the year.@@@@1@20@@oe@2-2-2013
20965010@unknown@formal@none@1@S@Investors now are awaiting today's release of the preliminary estimate of third-quarter gross national product.@@@@1@15@@oe@2-2-2013
20965011@unknown@formal@none@1@S@Economists predict the report will show economic growth of about 2.5% in the third quarter, which would have little effect on financial markets.@@@@1@23@@oe@2-2-2013
20965012@unknown@formal@none@1@S@But an unexpected deviation either way could roil bond and currency markets.@@@@1@12@@oe@2-2-2013
20965013@unknown@formal@none@1@S@In major market activity:@@@@1@4@@oe@2-2-2013
20965014@unknown@formal@none@1@S@Stock prices slipped lower in moderate trading.@@@@1@7@@oe@2-2-2013
20965015@unknown@formal@none@1@S@Volume on the New York Stock Exchange totaled 155.7 million shares.@@@@1@11@@oe@2-2-2013
20965016@unknown@formal@none@1@S@But advancing issues on the Big Board were ahead of decliners 784 to 700.@@@@1@14@@oe@2-2-2013
20965017@unknown@formal@none@1@S@Bond prices inched higher.@@@@1@4@@oe@2-2-2013
20965018@unknown@formal@none@1@S@The Treasury's benchmark 30-year issue rose less than an eighth of a point, or less than $1.25 for each $1,000 of face amount.@@@@1@23@@oe@2-2-2013
20965019@unknown@formal@none@1@S@The yield on the issue stood at 7.88%.@@@@1@8@@oe@2-2-2013
20965020@unknown@formal@none@1@S@The dollar was virtually unchanged.@@@@1@5@@oe@2-2-2013
20965021@unknown@formal@none@1@S@In late New York trading the U.S. currency was quoted at 1.8353 marks and 141.52 yen, compared with 1.8355 marks and 141.45 yen Tuesday.@@@@1@24@@oe@2-2-2013
20966001@unknown@formal@none@1@S@A few years ago, I was on a panel of journalists that discussed the "image" of intercollegiate athletics for an audience of campus information directors and others.@@@@1@27@@oe@2-2-2013
20966002@unknown@formal@none@1@S@We scribblers quickly concurred that not only was the bad rep of big-time college sports richly earned, but also that it could be corrected.@@@@1@24@@oe@2-2-2013
20966003@unknown@formal@none@1@S@Competition could be maintained -- and stadiums probably would remain full -- if schedules were reduced and the games returned to the students, we said.@@@@1@25@@oe@2-2-2013
20966004@unknown@formal@none@1@S@Comments from the audience reflected widespread, if wistful, agreement with those conclusions.@@@@1@12@@oe@2-2-2013
20966005@unknown@formal@none@1@S@As the session broke up, I was approached by a man who identified himself as the alumni director of a Big Ten university.@@@@1@23@@oe@2-2-2013
20966006@unknown@formal@none@1@S@"I'd love to see sports cut back, and so would a lot of my counterparts at other schools, but everybody's afraid to make the first move," he confided.@@@@1@28@@oe@2-2-2013
20966007@unknown@formal@none@1@S@"It's like the U.S. and the Russians: Nobody wants to disarm first."@@@@1@12@@oe@2-2-2013
20966008@unknown@formal@none@1@S@And so our institutions of higher learning lurch from scandal to scandal on gridiron and basketball court, while the casualties mount.@@@@1@21@@oe@2-2-2013
20966009@unknown@formal@none@1@S@Three new books make the point that one large price of the glittery college-sports show can be the integrity of the schools that stage it.@@@@1@25@@oe@2-2-2013
20966010@unknown@formal@none@1@S@They are: "A Payroll to Meet: A Story of Greed, Corruption and Football at SMU" (Macmillan, 221 pages, $18.95) by David Whitford; "Big Red Confidential: Inside Nebraska Football" (Contemporary, 231 pages, $17.95) by Armen Keteyian; and "Never Too Young to Die: The Death of Len Bias" (Pantheon, 252 pages, $18.95) by Lewis Cole.@@@@1@53@@oe@2-2-2013
20966011@unknown@formal@none@1@S@The pick of the group is "Payroll"; it should be required reading for every college president.@@@@1@16@@oe@2-2-2013
20966012@unknown@formal@none@1@S@It chronicles how, over a period of a dozen years, Southern Methodist University bought its way to football respectability in the Southwest Conference, only to find itself trapped and strangled by the athlete-payoff system it created.@@@@1@36@@oe@2-2-2013
20966013@unknown@formal@none@1@S@The school was the first, in 1987, to receive the NCAA's "death penalty" -- two years without football -- for repeated rules violations.@@@@1@23@@oe@2-2-2013
20966014@unknown@formal@none@1@S@Given current headlines about the University of Florida, it may not be the last.@@@@1@14@@oe@2-2-2013
20966015@unknown@formal@none@1@S@The man who brought the bribe to the Dallas school was Ron Meyer, a flashy sort who came in 1975 to rescue a woebegone program, Mr. Whitford writes.@@@@1@28@@oe@2-2-2013
20966016@unknown@formal@none@1@S@Mr. Meyer's personal style was illustrated by his pinning a $100 bill to a high-school bulletin board on which other coaches tacked their cards.@@@@1@24@@oe@2-2-2013
20966017@unknown@formal@none@1@S@One recruiter working with Mr. Meyer was so generous with $10 and $20 bills that prospects sang "Here Comes Santa Claus" when he approached.@@@@1@24@@oe@2-2-2013
20966018@unknown@formal@none@1@S@Paying players at SMU was no casual operation.@@@@1@8@@oe@2-2-2013
20966019@unknown@formal@none@1@S@It involved the athletics director, two different football coaching staffs, and school trustees and governors -- just about everybody, it seemed, but Donald Shields, the university's president.@@@@1@27@@oe@2-2-2013
20966020@unknown@formal@none@1@S@There's a memorable passage in which Mr. Shields, having finally learned of the practice, expresses his outrage to Bill Clements, then a university governor (and now the governor of Texas!) and oil man Edwin Cox, chairman of the board of trustees.@@@@1@41@@oe@2-2-2013
20966021@unknown@formal@none@1@S@"You stay out of it," author Whitford quotes Mr. Clements as saying.@@@@1@12@@oe@2-2-2013
20966022@unknown@formal@none@1@S@"Go run the university."@@@@1@4@@oe@2-2-2013
20966023@unknown@formal@none@1@S@Which was about what Mr. Shields did, and quietly, until he resigned a few years later, pleading ill health, when the stuff hit the fan.@@@@1@25@@oe@2-2-2013
20966024@unknown@formal@none@1@S@Mr. Whitford drew on voluminous news media coverage of the SMU scandal, and on a university internal investigation.@@@@1@18@@oe@2-2-2013
20966025@unknown@formal@none@1@S@Mr. Keteyian had to do most of his own digging on University of Nebraska football, which is, to date, high and dry as far as the NCAA is concerned.@@@@1@29@@oe@2-2-2013
20966026@unknown@formal@none@1@S@Unfortunately, he gets low grades as an investigative reporter, relying heavily on what Chicago's late mayor, Richard J. Daley, called "insinuendo."@@@@1@21@@oe@2-2-2013
20966027@unknown@formal@none@1@S@Discrepancies go unexplained in "Confidential" (one ex-player claims he received $4,000 to $5,000 for his season football tickets while others said theirs brought only a few hundred dollars), and when Mr. Keteyian can't nail down something, like who really owned a car driven by Husker tailback Doug Dubose, he simply reprints his notes.@@@@1@53@@oe@2-2-2013
20966028@unknown@formal@none@1@S@There are gratuitous references to supposed romantic liaisons between Husker players and a low-level female university employee.@@@@1@17@@oe@2-2-2013
20966029@unknown@formal@none@1@S@A serious charge -- that star flanker Irving Fryar "threw" the 1984 Orange Bowl game by intentionally dropping a pass in the end zone -- is included, even though the Nebraska assistant coach quoted denied making it.@@@@1@37@@oe@2-2-2013
20966030@unknown@formal@none@1@S@Still, the book produces more smoke than a smoldering sofa, along with a few flames, especially concerning the use of steroids.@@@@1@21@@oe@2-2-2013
20966031@unknown@formal@none@1@S@Dean Steinkuhler, a spectacularly bulked-up former lineman, confesses that he used 'em, and says other Huskers did too.@@@@1@18@@oe@2-2-2013
20966032@unknown@formal@none@1@S@It's a mystery how this could have escaped the notice of Nebraska coaches.@@@@1@13@@oe@2-2-2013
20966033@unknown@formal@none@1@S@Probably, it didn't.@@@@1@3@@oe@2-2-2013
20966034@unknown@formal@none@1@S@"Never Too Young" is a different sort of work, focusing on the 1986 death from cocaine ingestion of Bias, a University of Maryland basketball star ticketed for sure pro stardom.@@@@1@30@@oe@2-2-2013
20966035@unknown@formal@none@1@S@While the university was no more to blame for that than for the similar fate of any other student, it must bear responsibility for its conduct in the aftermath.@@@@1@29@@oe@2-2-2013
20966036@unknown@formal@none@1@S@Bias's coach, Lefty Driesell, ordered the room in which Bias died to be cleaned before the police could arrive (the order wasn't carried out), and the school's athletics director issued false information about the academic standing of Bias and other players.@@@@1@41@@oe@2-2-2013
20966037@unknown@formal@none@1@S@Those, of course, were the responses of people with something to hide.@@@@1@12@@oe@2-2-2013
20966038@unknown@formal@none@1@S@One wonders how other college athletic officials would behave under the same circumstances.@@@@1@13@@oe@2-2-2013
20966039@unknown@formal@none@1@S@Tomorrow's "On Sports" column will look at another aspect of the college sports mess.@@@@1@14@@oe@2-2-2013
20967001@unknown@formal@none@1@S@Mercedes-Benz of North America Inc., a unit of Daimler-Benz AG, paid Massachusetts $9.1 million in taxes, bringing to an end a 10-month-long corporate tax chase.@@@@1@25@@oe@2-2-2013
20967002@unknown@formal@none@1@S@Officials at the Department of Revenue had dogged the foreign car maker for taxes owed on business transactions and were proceeding to settle the dispute in court.@@@@1@27@@oe@2-2-2013
20967003@unknown@formal@none@1@S@But "the check arrived in the mail," said Stephen Kidder, Massachusetts Commissioner of Revenue.@@@@1@14@@oe@2-2-2013
20967004@unknown@formal@none@1@S@Mercedes-Benz, which had said it didn't owe taxes to Massachusetts partly because it sells its cars at a dock in Baltimore and not in Massachusetts, didn't explain its change of heart.@@@@1@31@@oe@2-2-2013
20967005@unknown@formal@none@1@S@Last month, Mercedes-Benz executives approached state revenue officials complaining about bad press, the commissioner said.@@@@1@15@@oe@2-2-2013
20967006@unknown@formal@none@1@S@The dispute was the subject of a Wall Street Journal article in August.@@@@1@13@@oe@2-2-2013
20967007@unknown@formal@none@1@S@The amount covers taxes, interest and penalties owed from 1966, when the state began collecting corporate taxes, to 1985.@@@@1@19@@oe@2-2-2013
20967008@unknown@formal@none@1@S@Mercedes-Benz also agreed to pay taxes owed for the years 1986 through 1988, Mr. Kidder added.@@@@1@16@@oe@2-2-2013
20967009@unknown@formal@none@1@S@Under Massachusetts tax laws, corporations must pay 9.5% of estimated profits resulting from business transactions in the state if the company conducts a variety of non-sales activities, including warranties, customer complaints and relations with independent dealerships.@@@@1@36@@oe@2-2-2013
20968001@unknown@formal@none@1@S@National Convenience Stores Inc., trying to shake the doldrums in the convenience-store business, said it will rearrange the merchandise in all of its stores in the next 18 months to cater better to the neighborhoods around its stores.@@@@1@38@@oe@2-2-2013
20968002@unknown@formal@none@1@S@As part of the plan, the Houston-based company's 1,100 Stop 'N Go stores will be refocused to target black, Hispanic, upscale or core middle-class customers.@@@@1@25@@oe@2-2-2013
20968003@unknown@formal@none@1@S@Stores in upper-income neighborhoods, for instance, will carry high-priced wines, publications such as Vanity Fair, gourmet pasta sauces, oat bran cereals and Weight Watchers and Pritikin products.@@@@1@27@@oe@2-2-2013
20968004@unknown@formal@none@1@S@Stores in Hispanic areas will stock an assortment of Spanish-language magazines, Mexican cooking items and candies.@@@@1@16@@oe@2-2-2013
20968005@unknown@formal@none@1@S@Stores in the company's core middle-class market will get more frozen and quick-to-prepare foods and a greater selection of bottled water.@@@@1@21@@oe@2-2-2013
20968006@unknown@formal@none@1@S@V.H. Van Horn, National Convenience president and chief executive officer, said the move reflects the company's realization that the industry's poor performance stems from its failure to give customers what they want -- rather than from increasing competition from gasoline stations and 24-hour grocery stores.@@@@1@45@@oe@2-2-2013
20968007@unknown@formal@none@1@S@"Convenience store merchandise has not kept pace with current trends in consumer preferences," he said in a speech at the company's annual shareholders meeting.@@@@1@24@@oe@2-2-2013
20968008@unknown@formal@none@1@S@Analysts and competitors said the move reflects a growing need by the stores to expand their customer base beyond the traditional blue-collar worker who pops into a convenience store for a sandwich, cigarettes, soda or beer.@@@@1@36@@oe@2-2-2013
20968009@unknown@formal@none@1@S@"There are an increasing number of people out there who are time-poor," said Chris Vroom, retail analyst with Alex. Brown & Sons of Baltimore.@@@@1@24@@oe@2-2-2013
20968010@unknown@formal@none@1@S@"Those are primarily white-collar workers, a customer segment that has historically proved elusive for convenience stores."@@@@1@16@@oe@2-2-2013
20968011@unknown@formal@none@1@S@National Convenience's move is likely to be echoed by other chains, though analysts note that Southland Corp., owner of 7-Eleven stores, and Circle K Corp. are too debt-heavy to roll out such an extensive effort.@@@@1@35@@oe@2-2-2013
20968012@unknown@formal@none@1@S@Still, Southland said that its franchisees have been targeting their merchandise to their customers for years, and that the company has begun to follow suit.@@@@1@25@@oe@2-2-2013
20968013@unknown@formal@none@1@S@For instance, Southland has expanded its bottled water selection in some stores and added fresh sandwiches in some outlets.@@@@1@19@@oe@2-2-2013
20968014@unknown@formal@none@1@S@Several months ago, it also added black health and beauty aids displays to many stores, a spokeswoman said.@@@@1@18@@oe@2-2-2013
20968015@unknown@formal@none@1@S@"We certainly see an increasing trend toward that," she added.@@@@1@10@@oe@2-2-2013
20968016@unknown@formal@none@1@S@National Convenience said it has tested its new merchandise mix in 100 stores, with favorable results.@@@@1@16@@oe@2-2-2013
20968017@unknown@formal@none@1@S@Analysts said the company's effort will be helped by its decision last year to put point-of-sale scanners in 200 stores, allowing National Convenience to quickly track items that are selling and those that aren't.@@@@1@34@@oe@2-2-2013
20968018@unknown@formal@none@1@S@To promote its new strategy, National Convenience said it plans to spend about $12 million on advertising for the year ending June 30, up from about $10 million in fiscal 1989.@@@@1@31@@oe@2-2-2013
20969001@unknown@formal@none@1@S@Labor Secretary Elizabeth Dole named a mediator to help resolve the lengthy labor dispute between the United Mine Workers and Pittston Co.@@@@1@22@@oe@2-2-2013
20969002@unknown@formal@none@1@S@W.J. Usery Jr., labor secretary during the Ford administration, was named to mediate talks to settle the six-month strike by the UMW.@@@@1@22@@oe@2-2-2013
20969003@unknown@formal@none@1@S@Previous talks between Pittston, of Greenwich, Conn., and the union have been sporadic and unsuccessful.@@@@1@15@@oe@2-2-2013
20969004@unknown@formal@none@1@S@The union called the strike in April after Pittston refused to sign the UMW's national labor pact.@@@@1@17@@oe@2-2-2013
20969005@unknown@formal@none@1@S@Pittston seeks changes in health and pension benefits, among other things.@@@@1@11@@oe@2-2-2013
20969006@unknown@formal@none@1@S@No schedule for formal talks was set, but meetings are expected to begin soon.@@@@1@14@@oe@2-2-2013
20970001@unknown@formal@none@1@S@One day after Delmed Inc. made top management changes and disclosed the end of an important business tie, its stock didn't trade and the company forecast a "significant" drop next year in sales of its core product.@@@@1@37@@oe@2-2-2013
20970002@unknown@formal@none@1@S@That disclosure came, a Delmed spokeswoman said, after the American Stock Exchange alerted the company that trading wouldn't resume in its stock until additional information about developments was provided.@@@@1@29@@oe@2-2-2013
20970003@unknown@formal@none@1@S@In addition to the forecast, the company also said it is examining potential cost cuts and reductions in overhead.@@@@1@19@@oe@2-2-2013
20970004@unknown@formal@none@1@S@The spokeswoman said the exchange would resume trading of Delmed stock today.@@@@1@12@@oe@2-2-2013
20970005@unknown@formal@none@1@S@Delmed, which makes and sells peritoneal dialysis products used in treating kidney disease, on Tuesday announced the resignations of Robert S. Ehrlich, chairman, president and chief executive officer, and of Leslie I. Shapiro, chief operating officer and chief financial officer.@@@@1@40@@oe@2-2-2013
20970006@unknown@formal@none@1@S@They were succeeded by executives of Fresenius USA Inc. and its parent, Fresenius AG, which owns about 45% of Delmed.@@@@1@20@@oe@2-2-2013
20970007@unknown@formal@none@1@S@At the same time, the New Brunswick, N.J., company said negotiations about pricing and volumes of product had collapsed between it and its exclusive distributor in the U.S., National Medical Care Inc.@@@@1@32@@oe@2-2-2013
20970008@unknown@formal@none@1@S@Following that announcement Tuesday, however, company officials were unavailable to elaborate.@@@@1@11@@oe@2-2-2013
20970009@unknown@formal@none@1@S@Yesterday, the spokeswoman said sales of Delmed products through the exclusive arrangement with National Medical accounted for 87% of Delmed's 1988 sales of $21.1 million.@@@@1@25@@oe@2-2-2013
20970010@unknown@formal@none@1@S@The current distribution arrangement ends in March 1990, although Delmed said it will continue to provide some supplies of the peritoneal dialysis products to National Medical, the spokeswoman said.@@@@1@29@@oe@2-2-2013
20970011@unknown@formal@none@1@S@Nonetheless, "Delmed currently expects that 1990 sales . . . will be significantly below their 1989 level," the company said in a statement.@@@@1@23@@oe@2-2-2013
20970012@unknown@formal@none@1@S@Delmed said yesterday that Fresenius USA would begin distributing the product and that the company is investigating other possible distribution channels.@@@@1@21@@oe@2-2-2013
20970013@unknown@formal@none@1@S@In any case, supplies to patients won't be interrupted, the company added.@@@@1@12@@oe@2-2-2013
20970014@unknown@formal@none@1@S@Fresenius, a West German pharmaceutical concern, has been discussing a transaction in which it would buy Delmed stock for cash to bring its beneficial ownership to between 70% and 80%.@@@@1@30@@oe@2-2-2013
20970015@unknown@formal@none@1@S@The transaction also would combine Fresenius USA and Delmed.@@@@1@9@@oe@2-2-2013
20970016@unknown@formal@none@1@S@But the plan now is being "reformulated," Delmed said, declining to provide most of the new terms of the combination.@@@@1@20@@oe@2-2-2013
20970017@unknown@formal@none@1@S@Said the spokeswoman: "The whole structure has changed.@@@@1@8@@oe@2-2-2013
20970018@unknown@formal@none@1@S@The value of the company has changed."@@@@1@7@@oe@2-2-2013
20970019@unknown@formal@none@1@S@Delmed did say that the proposal still would infuse cash into Delmed but less than the $10 million originally expected.@@@@1@20@@oe@2-2-2013
20970020@unknown@formal@none@1@S@Delmed also would receive the North American rights to certain Fresenius AG products.@@@@1@13@@oe@2-2-2013
20970021@unknown@formal@none@1@S@Another option for Delmed, the company said, is that it could sell its plant in Ogden, Utah.@@@@1@17@@oe@2-2-2013
20970022@unknown@formal@none@1@S@It added that no discussions about such a sale are under way.@@@@1@12@@oe@2-2-2013
20971001@unknown@formal@none@1@S@Brooks Armored Car Service Inc. never wanted to get into money laundering.@@@@1@12@@oe@2-2-2013
20971002@unknown@formal@none@1@S@But July 5, a thunderstorm in Wilmington, Del., caused Shellpot Creek to rise 15 feet, pouring 1.3 million gallons of water into basement vaults.@@@@1@24@@oe@2-2-2013
20971003@unknown@formal@none@1@S@The water destroyed about $75 million in currency and caked $4 million of coins with mud, rendering them dangerous to counting machines.@@@@1@22@@oe@2-2-2013
20971004@unknown@formal@none@1@S@The $75 million in paper money, although moldy, mildewy and smelly, was exchanged through the Federal Reserve Bank of Philadelphia without incident.@@@@1@22@@oe@2-2-2013
20971005@unknown@formal@none@1@S@But Brooks was unable to reach a coin-cleaning agreement with the government.@@@@1@12@@oe@2-2-2013
20971006@unknown@formal@none@1@S@"We kind of got caught between bureaucracies," says President William F. Brooks Jr.@@@@1@13@@oe@2-2-2013
20971007@unknown@formal@none@1@S@The U.S. Mint wouldn't take the coin because it wasn't mutilated, and the Federal Reserve Bank accepts only clean coins, he says.@@@@1@22@@oe@2-2-2013
20971008@unknown@formal@none@1@S@The Philadelphia Fed says it is merely an "agent" for coins, responsible only for storage and distribution.@@@@1@17@@oe@2-2-2013
20971009@unknown@formal@none@1@S@"We issue paper money; we destroy paper money," says Jane Hinkle, a Philadelphia Fed spokeswoman.@@@@1@15@@oe@2-2-2013
20971010@unknown@formal@none@1@S@"The coin is their problem."@@@@1@5@@oe@2-2-2013
20971011@unknown@formal@none@1@S@A Mint official says the agency offered to clean the coins for its "bare-bones" cost of $17,000 plus certain other expenses.@@@@1@21@@oe@2-2-2013
20971012@unknown@formal@none@1@S@But Brooks declined, figuring that transporting the mucked up money to Washington would cost the company thousands more.@@@@1@18@@oe@2-2-2013
20971013@unknown@formal@none@1@S@So Brooks gave the dirty work to Coin Wrap Inc., which came up with an unusual solution.@@@@1@17@@oe@2-2-2013
20971014@unknown@formal@none@1@S@For eight hours a day for the past two weeks, in aggregates of as much as 27,000 pounds (equaling $20,000 in pennies), Coin Wrap has been pouring money into a cement-mixing truck.@@@@1@32@@oe@2-2-2013
20971015@unknown@formal@none@1@S@A giant heater, working like a blowtorch, causes the mud to crust and burns off any wrappers.@@@@1@17@@oe@2-2-2013
20971016@unknown@formal@none@1@S@After clanging around for an hour or so, the shiny, hot money pours out of the cement chute, where a giant vacuum sucks away the dried mud and burnt wrappers.@@@@1@30@@oe@2-2-2013
20971017@unknown@formal@none@1@S@After cooling, the coins are then rewrapped.@@@@1@7@@oe@2-2-2013
20971018@unknown@formal@none@1@S@Brooks expects to pay Coin Wrap a total of about $20,000 -- a cost that insurance won't cover.@@@@1@18@@oe@2-2-2013
20971019@unknown@formal@none@1@S@And while the job is half done, Brooks is still bitter.@@@@1@11@@oe@2-2-2013
20971020@unknown@formal@none@1@S@In fact, there's only one person involved who's happy, and that's Floyd String, president of Coin Wrap and conceiver of the cement-truck solution.@@@@1@23@@oe@2-2-2013
20971021@unknown@formal@none@1@S@Not only did his company find $20,000 worth of work, but when the approach was suggested, Mr. String says, Brooks officials "didn't laugh at me or anything.@@@@1@27@@oe@2-2-2013
20972001@unknown@formal@none@1@S@"Parenthood," this summer's successful and amusing movie about parents and children, apparently was only the beginning.@@@@1@16@@oe@2-2-2013
20972002@unknown@formal@none@1@S@It seems that every day a new movie opens featuring a child coping with a mother's death, or adoption, or aging parents, or pregnancy.@@@@1@24@@oe@2-2-2013
20972003@unknown@formal@none@1@S@And why not?@@@@1@3@@oe@2-2-2013
20972004@unknown@formal@none@1@S@Some of our best and most idiosyncratic film makers -- from Truffaut to Fellini to Woody Allen -- have taken a cue from Chekhov: When it comes to compelling drama, there's no place like home.@@@@1@35@@oe@2-2-2013
20972005@unknown@formal@none@1@S@Yet too many people working in Hollywood today seem to suffer from the delusion that the drama played out in every home will be interesting to people who live somewhere else.@@@@1@31@@oe@2-2-2013
20972006@unknown@formal@none@1@S@This is not the case.@@@@1@5@@oe@2-2-2013
20972007@unknown@formal@none@1@S@Some diaries simply aren't worth snooping in.@@@@1@7@@oe@2-2-2013
20972008@unknown@formal@none@1@S@Yet there will be people who will sob at "Immediate Family," a limply constructed and offensive movie about adoption.@@@@1@19@@oe@2-2-2013
20972009@unknown@formal@none@1@S@These are the sensitive souls who can empathize with and even enjoy hearing about other people's troubles, no matter how haltingly or predictably the sad tale is told.@@@@1@28@@oe@2-2-2013
20972010@unknown@formal@none@1@S@Written by Barbara Benedek, co-author of "The Big Chill," "Immediate Family" takes the position that only rich people living in nice houses should have children.@@@@1@25@@oe@2-2-2013
20972011@unknown@formal@none@1@S@The film makers have couched this offensive idea in pretty packaging.@@@@1@11@@oe@2-2-2013
20972012@unknown@formal@none@1@S@Everyone is very nice and good-looking -- the adoptive parents (Glenn Close and James Woods) and the teen-age couple who decide to give up their baby for adoption (Mary Stuart Masterson and Kevin Dillon).@@@@1@34@@oe@2-2-2013
20972013@unknown@formal@none@1@S@Linda and Michael (Ms. Close and Mr. Woods), who seem to be pushing 40, live in a large and tastefully decorated home in suburban Seattle.@@@@1@25@@oe@2-2-2013
20972014@unknown@formal@none@1@S@All of their friends have children and they can't, so now they want a child more than anything -- perhaps even more than Michael wanted his fancy convertible or his deluxe stereo equipment.@@@@1@33@@oe@2-2-2013
20972015@unknown@formal@none@1@S@The idea of a child-as-required-yuppie-possession must be motivating them, since the wealthy offspring of their friends are shown to be rude brats, in therapy by age five.@@@@1@27@@oe@2-2-2013
20972016@unknown@formal@none@1@S@Having exhausted all modern aids to fertility, Linda and Michael decide to adopt.@@@@1@13@@oe@2-2-2013
20972017@unknown@formal@none@1@S@The actors wear pained expressions to indicate their genuine longing for a little one -- or maybe they're not-so-subtly commenting on the inadequacy of the script, and Jonathan Kaplan's ("The Accused") dull direction.@@@@1@33@@oe@2-2-2013
20972018@unknown@formal@none@1@S@Or maybe they are disgusted by the literal-minded musical score; when a character arrives at a major decision her thoughts are revealed by the sound of "I Can See Clearly Now."@@@@1@31@@oe@2-2-2013
20972019@unknown@formal@none@1@S@The adoption agency insists on introducing the adopting parents to the birth mother, so Linda and Michael pay for pregnant Lucy's (Ms. Masterson) bus ticket from Ohio.@@@@1@27@@oe@2-2-2013
20972020@unknown@formal@none@1@S@(Why in these movies is the unwed pregnant woman always from Ohio?@@@@1@12@@oe@2-2-2013
20972021@unknown@formal@none@1@S@I ask this not necessarily as a native Ohioan.)@@@@1@9@@oe@2-2-2013
20972022@unknown@formal@none@1@S@Lucy, of course, is pretty and smart, though uneducated.@@@@1@9@@oe@2-2-2013
20972023@unknown@formal@none@1@S@Everyone falls in love with everyone else.@@@@1@7@@oe@2-2-2013
20972024@unknown@formal@none@1@S@There is some pain, when Lucy has the baby and "didn't know she would feel like this" and wants to keep the baby.@@@@1@23@@oe@2-2-2013
20972025@unknown@formal@none@1@S@But in the end, everything turns out for the best, in the film makers' warped view.@@@@1@16@@oe@2-2-2013
20972026@unknown@formal@none@1@S@Like lawyers in the hostile takeover field, the baby goes where the money is.@@@@1@14@@oe@2-2-2013
20972027@unknown@formal@none@1@S@At the other end of the life cycle is "Dad," Gary David Goldberg's adaptation of the William Wharton novel.@@@@1@19@@oe@2-2-2013
20972028@unknown@formal@none@1@S@This picture is about a middle-aged son who makes sure that his delayed bond with his father will last by waiting to cement it until just before the old man dies.@@@@1@31@@oe@2-2-2013
20972029@unknown@formal@none@1@S@The glib emotional style Mr. Goldberg has perfected on television's "Family Ties" doesn't benefit from magnification.@@@@1@16@@oe@2-2-2013
20972030@unknown@formal@none@1@S@His characters practically scamper through a vast range of human emotions, like travelers doing 10 cities in eight days.@@@@1@19@@oe@2-2-2013
20972031@unknown@formal@none@1@S@They pause only to register little whimpers of distress and sighs of satisfaction, like tourists cataloging the sights they've seen from the window of a bus.@@@@1@26@@oe@2-2-2013
20972032@unknown@formal@none@1@S@Not even Jack Lemmon's expert doddering makes this trip worth taking.@@@@1@11@@oe@2-2-2013
20972033@unknown@formal@none@1@S@So it's entirely possible that "Look Who's Talking" isn't as entertaining as it seems in comparison to the turgid other films opening now.@@@@1@23@@oe@2-2-2013
20972034@unknown@formal@none@1@S@But by comparison, this fluffy comedy seems like a gem.@@@@1@10@@oe@2-2-2013
20972035@unknown@formal@none@1@S@It starts with conception, taking the sperm's point of view, then progresses to the baby's point of view.@@@@1@18@@oe@2-2-2013
20972036@unknown@formal@none@1@S@Bruce Willis's best attribute as an actor is his coy, lazy voice, and that's all you get of him here, speaking for the baby.@@@@1@24@@oe@2-2-2013
20972037@unknown@formal@none@1@S@Finally, there is one family movie that quite eloquently explores the depth of human emotion -- only its stars are bears.@@@@1@21@@oe@2-2-2013
20972038@unknown@formal@none@1@S@For the second time, in a movie called "The Bear," French director Jean-Jacques Annaud demonstrates just how powerful pictures can be.@@@@1@21@@oe@2-2-2013
20972039@unknown@formal@none@1@S@("Quest for Fire" was the first time.)@@@@1@7@@oe@2-2-2013
20972040@unknown@formal@none@1@S@To be sure, one wonders what kind of man is this, who feels compelled to try to understand the most primitive longing and instinct in a way that requires the most sophisticated appreciation of visual storytelling.@@@@1@36@@oe@2-2-2013
20972041@unknown@formal@none@1@S@Supposedly, he proposed the movie to his producer, Claude Berri, in four lines:@@@@1@13@@oe@2-2-2013
20972042@unknown@formal@none@1@S@"An orphan bear cub.@@@@1@4@@oe@2-2-2013
20972043@unknown@formal@none@1@S@A big solitary bear.@@@@1@4@@oe@2-2-2013
20972044@unknown@formal@none@1@S@Two hunters in the forest.@@@@1@5@@oe@2-2-2013
20972045@unknown@formal@none@1@S@The animals' point of view."@@@@1@5@@oe@2-2-2013
20972046@unknown@formal@none@1@S@But then, even a great many words couldn't summarize the extraordinary pull of this movie about an orphaned bear who adopts a parent.@@@@1@23@@oe@2-2-2013
20972047@unknown@formal@none@1@S@Video Tip:@@@@1@2@@oe@2-2-2013
20972048@unknown@formal@none@1@S@One of the best movies about the child-parent thing in recent years was "Raising Arizona," the 1987 Coen brothers' comedy that definitely was not about the folks next door.@@@@1@29@@oe@2-2-2013
20973001@unknown@formal@none@1@S@Westinghouse Electric Corp., capitalizing on a major restructuring program, expects operating margins of more than 10% and double-digit per-share earnings growth next year, top officers told securities analysts here.@@@@1@29@@oe@2-2-2013
20973002@unknown@formal@none@1@S@John C. Marous, chairman and chief executive officer, also said the company expects sales from continuing businesses to rise 8.5% annually through the next three years.@@@@1@26@@oe@2-2-2013
20973003@unknown@formal@none@1@S@In 1988, the company earned $822.8 million, or $5.66 a share, on sales of $12.49 billion.@@@@1@16@@oe@2-2-2013
20973004@unknown@formal@none@1@S@Since 1983, Westinghouse has shed 70 businesses that it didn't expect to produce 10% operating margins while acquiring 55 businesses.@@@@1@20@@oe@2-2-2013
20973005@unknown@formal@none@1@S@In the past 20 months alone, Paul E. Lego, president and chief operating officer, said the divestiture of $300 million of slow-growth, low-profit businesses has been more than offset by $600 million in profitable acquisitions.@@@@1@35@@oe@2-2-2013
20973006@unknown@formal@none@1@S@Westinghouse expects to meet its corporate goals despite a softening in the economy.@@@@1@13@@oe@2-2-2013
20973007@unknown@formal@none@1@S@Even if the gross national product is either flat or in the growth range of 2% to 2.5%, "we can handle that," Mr. Marous said.@@@@1@25@@oe@2-2-2013
20973008@unknown@formal@none@1@S@GNP is the total value of the nation's output of goods and services.@@@@1@13@@oe@2-2-2013
20973009@unknown@formal@none@1@S@A bright spot is the company's power-generation business, which is experiencing a surge of growth for the first time in years.@@@@1@21@@oe@2-2-2013
20973010@unknown@formal@none@1@S@Mr. Marous said the business will achieve higher sales this year than the company's target goal of 8.5%.@@@@1@18@@oe@2-2-2013
20973011@unknown@formal@none@1@S@While Westinghouse hasn't had a nuclear power plant order from a U.S. utility in about a decade, excess capacity is beginning to shrink.@@@@1@23@@oe@2-2-2013
20973012@unknown@formal@none@1@S@Mr. Lego said the company foresees the need for a major boost in new-generation capability throughout the 1990s.@@@@1@18@@oe@2-2-2013
20973013@unknown@formal@none@1@S@Westinghouse also is well positioned to sell steam turbine and gas turbine plants to independent power producers.@@@@1@17@@oe@2-2-2013
20973014@unknown@formal@none@1@S@The company's ability to respond to energy needs world-wide will be enhanced through a recently announced venture with Mitsubishi Heavy Industries, Mr. Lego said.@@@@1@24@@oe@2-2-2013
20973015@unknown@formal@none@1@S@He said the independent power segment could grow to provide as much as 50% of near-term generation capacity, adding: "We expect to supply a significant share of this market."@@@@1@29@@oe@2-2-2013
20973016@unknown@formal@none@1@S@Westinghouse also expects its international sales to soon grow to 25% of total corporate sales from 20% last year.@@@@1@19@@oe@2-2-2013
20973017@unknown@formal@none@1@S@The company is negotiating with the Soviets to build a Thermo King truck-refrigeration plant that would produce about 10,000 units annually.@@@@1@21@@oe@2-2-2013
20973018@unknown@formal@none@1@S@Mr. Marous said Westinghouse would own 70% of the facility.@@@@1@10@@oe@2-2-2013
20973019@unknown@formal@none@1@S@The deal, which will involve an initial $20 million investment, was struck with a handshake, he added.@@@@1@17@@oe@2-2-2013
20973020@unknown@formal@none@1@S@Company officials also said that any gain from the sale of Westinghouse's 55% stake in its transmission and distribution venture with the Swiss firm of Asea Brown Boveri will be offset by a restructuring charge in the fourth quarter.@@@@1@39@@oe@2-2-2013
20973021@unknown@formal@none@1@S@The executives didn't disclose the size of the expected gain.@@@@1@10@@oe@2-2-2013
20973022@unknown@formal@none@1@S@Capital expenditure in 1990 will rise slightly, Mr. Marous said, from an estimated $470 million this year.@@@@1@17@@oe@2-2-2013
20974001@unknown@formal@none@1@S@SHORT INTEREST in International Mobile Machines Corp. fell to 3,102,935 shares in the month ended Oct. 13 from 3,420,936 in September.@@@@1@21@@oe@2-2-2013
20974002@unknown@formal@none@1@S@Because of an error by the National Association of Securities Dealers, the listing appeared incorrectly in the main table and several highlight tables in yesterday's edition.@@@@1@26@@oe@2-2-2013
20975001@unknown@formal@none@1@S@A proposed conflict-of-interest policy for federally funded biomedical researchers may thwart many high-technology new ventures, say financiers, researchers and university administrators.@@@@1@21@@oe@2-2-2013
20975002@unknown@formal@none@1@S@The National Institutes of Health policy would require researchers to cut financial ties with health-care businesses -- or lose their government money.@@@@1@22@@oe@2-2-2013
20975003@unknown@formal@none@1@S@Among other concerns, the agency says researchers with business ties are more likely to falsify findings in order to tout new drugs.@@@@1@22@@oe@2-2-2013
20975004@unknown@formal@none@1@S@As ties between academia and venture capital have blossomed in recent years, governmental fear of abuse has risen.@@@@1@18@@oe@2-2-2013
20975005@unknown@formal@none@1@S@But the guidelines could "make it impossible to commercialize research," says Kenneth Smith, associate provost and vice president for research at Massachusetts Institute of Technology.@@@@1@25@@oe@2-2-2013
20975006@unknown@formal@none@1@S@The NIH is asking grant recipients and others for comments on the proposed guidelines until Dec. 15.@@@@1@17@@oe@2-2-2013
20975007@unknown@formal@none@1@S@After that, it will make a final decision on the policy.@@@@1@11@@oe@2-2-2013
20975008@unknown@formal@none@1@S@The guidelines could foil future arrangements similar to the deal behind Lithox Inc., a Salem, Mass., start-up, says Robert Daly, a managing partner of TA Associates, a venture-capital firm.@@@@1@29@@oe@2-2-2013
20975009@unknown@formal@none@1@S@With $2.3 million, he and other investors launched Lithox last year to market a gallstone cure being developed by researchers of the University of California at San Diego.@@@@1@28@@oe@2-2-2013
20975010@unknown@formal@none@1@S@The researchers, who are being financed by the Lithox funds, will receive a royalty, or percentage of sales, if their research yields a commercial product.@@@@1@25@@oe@2-2-2013
20975011@unknown@formal@none@1@S@But because the University of California, like many other universities, shares its royalties with researchers, it may disqualify itself from federal funds under the proposed guidelines, Mr. Daly says.@@@@1@29@@oe@2-2-2013
20975012@unknown@formal@none@1@S@The high-tech industry is full of the kind of arrangement that the new guidelines would affect.@@@@1@16@@oe@2-2-2013
20975013@unknown@formal@none@1@S@For instance, Commonwealth BioVentures Inc., a venture-capital concern, last month invested $600,000 to launch Amira Inc., a Worcester, Mass., concern that will produce pharmaceuticals.@@@@1@24@@oe@2-2-2013
20975014@unknown@formal@none@1@S@Scientists Rima Kaddurah-Daouk and Paul Schimmel conducted the initial research at the Massachusetts Institute of Technology.@@@@1@16@@oe@2-2-2013
20975015@unknown@formal@none@1@S@While Ms. Kaddurah-Daouk left MIT to head Amira, Prof. Schimmel will continue to work at MIT, serve on Amira's board and own a small equity stake in the company.@@@@1@29@@oe@2-2-2013
20975016@unknown@formal@none@1@S@The Amira transaction is typical of the way venture-capital firms are approaching the task of commercializing biotechnology research.@@@@1@18@@oe@2-2-2013
20975017@unknown@formal@none@1@S@While universities develop the basic research, "venture capitalists are the ones best positioned to finance its commercialization," says Gloria W. Doubleday of Commonwealth.@@@@1@23@@oe@2-2-2013
20975018@unknown@formal@none@1@S@"This is the best way to transfer technology straight off the campuses of universities."@@@@1@14@@oe@2-2-2013
20975019@unknown@formal@none@1@S@But the new guidelines could prevent scientists like Prof. Schimmel from being involved with start-ups such as Amira, venture capitalists point out.@@@@1@22@@oe@2-2-2013
20975020@unknown@formal@none@1@S@And if that happens, the entire process of transferring technology to the marketplace could be harmed, they say.@@@@1@18@@oe@2-2-2013
20975021@unknown@formal@none@1@S@The stakes in the controversy are large.@@@@1@7@@oe@2-2-2013
20975022@unknown@formal@none@1@S@Last year, venture capitalists spent an estimated $600 million to finance start-up companies in medical and biotechnology businesses, according to the National Venture Capital Association, a trade group.@@@@1@28@@oe@2-2-2013
20975023@unknown@formal@none@1@S@Many of the deals involved transactions in which scientific institutions or researchers agreed to commercialize their work in return for an equity stake or royalties.@@@@1@25@@oe@2-2-2013
20975024@unknown@formal@none@1@S@In many of these deals, "venture capitalists had the inside track," says Lawrence Bock of Avalon Ventures, La Jolla, Calif.@@@@1@20@@oe@2-2-2013
20975025@unknown@formal@none@1@S@Investors were willing to gamble on new technologies because "we had exclusive rights to those technologies," he adds.@@@@1@18@@oe@2-2-2013
20975026@unknown@formal@none@1@S@But under the proposed guidelines, all federally funded research will have to be reported publicly so that anyone can capitalize on the work.@@@@1@23@@oe@2-2-2013
20975027@unknown@formal@none@1@S@"Without the exclusivity, most venture capitalists won't have the incentive to invest in such deals," Mr. Bock says.@@@@1@18@@oe@2-2-2013
20975028@unknown@formal@none@1@S@Last year, for example, Avalon and others invested $14 million in Athena Neurosciences Inc., South San Francisco, Calif., to license and develop technology for delivery of drugs to the brain.@@@@1@30@@oe@2-2-2013
20975029@unknown@formal@none@1@S@But before Athena was able to get an exclusive license to the technology, the Federal Register published most of the details, "giving all of the company's potential competitors a chance to exploit it," Mr. Bock says.@@@@1@36@@oe@2-2-2013
20975030@unknown@formal@none@1@S@Athena eventually acquired exclusive rights to the technology and currently is developing it.@@@@1@13@@oe@2-2-2013
20975031@unknown@formal@none@1@S@But, says Mr. Bock, "It was a close call."@@@@1@9@@oe@2-2-2013
20975032@unknown@formal@none@1@S@The proposed guidelines could also delay commercialization -- and force small companies to waste scarce capital, entrepreneurs say.@@@@1@18@@oe@2-2-2013
20975033@unknown@formal@none@1@S@If start-ups can't have early access to research being conducted at institutions, "we have to replicate it ourselves or do without the research," says Ruth Emyanitoff, manager of business development at Applied bioTechnology Inc., a Cambridge, Mass., concern.@@@@1@38@@oe@2-2-2013
20975034@unknown@formal@none@1@S@Duplicating research is both costly and time-consuming for a start-up, Ms. Emyanitoff says.@@@@1@13@@oe@2-2-2013
20975035@unknown@formal@none@1@S@For its part, NIH insists that its guidelines "should not stifle research creativity or technology transfer from the research laboratory to commercial use."@@@@1@23@@oe@2-2-2013
20975036@unknown@formal@none@1@S@Universities such as Harvard and MIT should be able to develop a way to act as brokers for the individual scientists, says Katherine Bick, who oversees the huge NIH grants program as its deputy director for extramural research.@@@@1@38@@oe@2-2-2013
20975037@unknown@formal@none@1@S@NIH staff members believe the guidelines are essential to prevent the escalation of problems that have already begun to surface in scientific ventures.@@@@1@23@@oe@2-2-2013
20975038@unknown@formal@none@1@S@Not long ago, scientists holding stock in Spectra Pharmaceutical Services Inc. were accused of falsifying research to boost the stock.@@@@1@20@@oe@2-2-2013
20975039@unknown@formal@none@1@S@Many officials are also concerned about companies getting a "free ride" on government-sponsored research.@@@@1@14@@oe@2-2-2013
20975040@unknown@formal@none@1@S@A congressional subcommitee has been investigating the potential abuse from researchers holding stock in companies exploiting their research.@@@@1@18@@oe@2-2-2013
20975041@unknown@formal@none@1@S@Among other provisions, the NIH guidelines would prohibit researchers and members of their immediate families from holding stock in any company that is affected by the outcome of their research.@@@@1@30@@oe@2-2-2013
20975042@unknown@formal@none@1@S@Ms. Bick, the NIH administrator, says the business and scientific community is overreacting to what the agency merely meant to be "ideas for discussion."@@@@1@24@@oe@2-2-2013
20975043@unknown@formal@none@1@S@The predictions of doom are "premature," she says.@@@@1@8@@oe@2-2-2013
20975044@unknown@formal@none@1@S@But when agencies like the NIH circulate guidelines, they've often already formulated policy, veteran scientists say.@@@@1@16@@oe@2-2-2013
20975045@unknown@formal@none@1@S@Indeed, institutions already are taking note.@@@@1@6@@oe@2-2-2013
20975046@unknown@formal@none@1@S@On Sept. 14, Harvard began circulating a conflict-of-interest policy statement that, in effect, would follow the NIH guidelines faithfully.@@@@1@19@@oe@2-2-2013
20975047@unknown@formal@none@1@S@The University of California at San Francisco is also circulating a memo among its scientific faculty that will restrict contact with the world of business.@@@@1@25@@oe@2-2-2013
20975048@unknown@formal@none@1@S@In many other institutions, scientists are shunning contacts with venture investors until the NIH policy is settled.@@@@1@17@@oe@2-2-2013
20975049@unknown@formal@none@1@S@Says Mr. Daly, the venture capitalist: "It doesn't matter whether they call it guidelines or policy.@@@@1@16@@oe@2-2-2013
20975050@unknown@formal@none@1@S@The damage is already done.@@@@1@5@@oe@2-2-2013
20976001@unknown@formal@none@1@S@Friday, Oct. 27, 9 p.m.-midnight EDT, on PBS (PBS air dates and times vary, so check local listings): "Show Boat."@@@@1@20@@oe@2-2-2013
20976002@unknown@formal@none@1@S@New Jersey's Paper Mill Playhouse produced this faithful revival of America's most influential musical, written by Jerome Kern and Oscar Hammerstein and first produced on Broadway in 1927.@@@@1@28@@oe@2-2-2013
20976003@unknown@formal@none@1@S@Worth watching, although the music has lasted better than the plot or the humor.@@@@1@14@@oe@2-2-2013
20976004@unknown@formal@none@1@S@Saturday, Oct. 28, 8-10 p.m. EDT, on HBO (repeated Oct. 31, Nov. 5, 8, 14, 16 and 20): "Perfect Witness."@@@@1@20@@oe@2-2-2013
20976005@unknown@formal@none@1@S@Aidan Quinn, Brian Dennehy and Stockard Channing are excellent in this gripping tale of a reluctant witness in an organized crime prosecution.@@@@1@22@@oe@2-2-2013
20976006@unknown@formal@none@1@S@It's set in New York, but it resonates with the terrible dynamics of the Latin American drug wars.@@@@1@18@@oe@2-2-2013
20976007@unknown@formal@none@1@S@Sunday, Oct. 29, 8-11 p.m. EST, on ABC: "The Final Days."@@@@1@11@@oe@2-2-2013
20976008@unknown@formal@none@1@S@No doubt there is something to irk everyone in this AT&T-sponsored dramatization of Bob Woodward and Carl Bernstein's book about Watergate.@@@@1@21@@oe@2-2-2013
20976009@unknown@formal@none@1@S@Personally, I'm irked by its combination of ponderousness and timidity, which adds up to an utter lack of drama.@@@@1@19@@oe@2-2-2013
20976010@unknown@formal@none@1@S@Sunday, Oct. 29, 10-11 p.m. EST, on Showtime (repeated Nov. 2, 6, 11 and 15): "The Strange Case of Dr. Jekyll and Mr. Hyde."@@@@1@24@@oe@2-2-2013
20976011@unknown@formal@none@1@S@Fans of Anthony Andrews ("Brideshead Revisited") will relish watching him play the title role(s) in the 19th-century Robert Louis Stevenson pre-Freudian drama of schizoid horror.@@@@1@25@@oe@2-2-2013
20976012@unknown@formal@none@1@S@Monday, Oct. 30, 10-11 p.m. EST, on PBS: "Journey Into Sleep."@@@@1@11@@oe@2-2-2013
20976013@unknown@formal@none@1@S@I promise you will stay awake through this intriguing documentary about the science of sleep.@@@@1@15@@oe@2-2-2013
20976014@unknown@formal@none@1@S@Wednesday, Nov. 1, 9-10:30 p.m. EST, on PBS: "Thomas Hart Benton."@@@@1@11@@oe@2-2-2013
20976015@unknown@formal@none@1@S@Critical opinion is divided about the success of Benton's populist defiance of modernist art.@@@@1@14@@oe@2-2-2013
20976016@unknown@formal@none@1@S@But no one could disagree that Ken Burns has made a fascinating film about this famous American painter.@@@@1@18@@oe@2-2-2013
20976017@unknown@formal@none@1@S@Thursday, Nov. 2, 9-10 p.m. EST, on A&E (repeated at 1 a.m. and on Nov. 5): "Third and Oak: The Pool Hall."@@@@1@22@@oe@2-2-2013
20976018@unknown@formal@none@1@S@A one-acter by the Pulitzer Prize-winning playwright Marsha Norman is the first presentation in a new series called "American Playwrights Theater," sponsored by General Motors.@@@@1@25@@oe@2-2-2013
20976019@unknown@formal@none@1@S@James Earl Jones and Mario Van Peebles carry out a bitter intergenerational dialogue between two black men.@@@@1@17@@oe@2-2-2013
20976020@unknown@formal@none@1@S@Thursdays, Nov. 2-23, 10-11 p.m. EST, on PBS: "Taiwan: The Other China."@@@@1@12@@oe@2-2-2013
20976021@unknown@formal@none@1@S@Judy Woodruff hosts this handsome four-part series about the history, economy, culture and politics of the island home of Chinese democracy and capitalism.@@@@1@23@@oe@2-2-2013
20976022@unknown@formal@none@1@S@Friday, Nov. 3, 9-11 p.m. EST, on PBS: "Our Town."@@@@1@10@@oe@2-2-2013
20976023@unknown@formal@none@1@S@Along with "Show Boat," "Great Performances" kicks off its new season with this Lincoln Center production of Thornton Wilder's best known play, in which the role of the small-town Stage Manager is given a hip twist by performance artist Spalding Gray.@@@@1@41@@oe@2-2-2013
20976024@unknown@formal@none@1@S@Saturday, Nov. 4, 1:30-6 p.m. EST, on NBC: Breeder's Cup Day.@@@@1@11@@oe@2-2-2013
20976025@unknown@formal@none@1@S@Polished hooves, fancy turf, fat purses -- the horse race of the year.@@@@1@13@@oe@2-2-2013
20976026@unknown@formal@none@1@S@Sunday, Nov. 5, 10:30 a.m.-1:30 p.m. EST, on ABC: New York City Marathon.@@@@1@13@@oe@2-2-2013
20976027@unknown@formal@none@1@S@Shiny Nikes, cracked cement, media glory -- the foot race of the year.@@@@1@13@@oe@2-2-2013
20976028@unknown@formal@none@1@S@Sunday, Nov. 5, 8-9 p.m. EST, on TNT: "Gary Cooper: American Life, American Legend."@@@@1@14@@oe@2-2-2013
20976029@unknown@formal@none@1@S@I've seen a great many moviestar film portraits, and this one is outstanding.@@@@1@13@@oe@2-2-2013
20976030@unknown@formal@none@1@S@Sundays, Nov. 5-12, 9-10:30 p.m. EST, on PBS: "Glory Enough for All."@@@@1@12@@oe@2-2-2013
20976031@unknown@formal@none@1@S@Can "Masterpiece Theatre" make a compelling human story out of the discovery of insulin?@@@@1@14@@oe@2-2-2013
20976032@unknown@formal@none@1@S@This earthy, amusing film answers with a resounding "yes."@@@@1@9@@oe@2-2-2013
20976033@unknown@formal@none@1@S@Sunday and Monday, Nov. 5 and 6, 9-11 p.m. EST, on NBC: "Cross of Fire."@@@@1@15@@oe@2-2-2013
20976034@unknown@formal@none@1@S@The Ku Klux Klan was revived in the 1920s as a national organization aimed at Catholics and Jews as well as blacks.@@@@1@22@@oe@2-2-2013
20976035@unknown@formal@none@1@S@One reason for its downfall was the murder trial of D.C. Stephenson, an Indiana leader whose reckless career is depicted in this film starring Mel Harris ("thirtysomething") and John Heard.@@@@1@30@@oe@2-2-2013
20976036@unknown@formal@none@1@S@Tuesday, Nov. 7, 8-9 p.m. EST, on PBS: "Hurricane!"@@@@1@9@@oe@2-2-2013
20976037@unknown@formal@none@1@S@Has the San Francisco earthquake caused you to forget Hugo?@@@@1@10@@oe@2-2-2013
20976038@unknown@formal@none@1@S@You'll remember when you see the stunning footage taken from inside a hurricane's eye, in this edition of "NOVA.@@@@1@19@@oe@2-2-2013
20977001@unknown@formal@none@1@S@Merksamer Jewelers Inc., a fast-growing jewelry store chain, filed for Chapter 11 bankruptcy-law protection from creditors, apparently to speed a management buy-out of the chain.@@@@1@25@@oe@2-2-2013
20977002@unknown@formal@none@1@S@The filing, made yesterday in U.S. Bankruptcy Court here, follows an agreement by L.J. Hooker Corp., Merksamer's owner, to sell the chain to management for an undisclosed price.@@@@1@28@@oe@2-2-2013
20977003@unknown@formal@none@1@S@GE Capital Corp., a financial services subsidiary of General Electric Co., is providing Merksamer management with $15 million in financing.@@@@1@20@@oe@2-2-2013
20977004@unknown@formal@none@1@S@L.J. Hooker, based in Atlanta, filed for Chapter 11 protection in August and has also announced its intention to sell its B. Altman & Co. department store chain.@@@@1@28@@oe@2-2-2013
20977005@unknown@formal@none@1@S@L.J. Hooker is owned by Hooker Corp., Sydney, Australia, which itself is currently being managed by a court-appointed provisional liquidator.@@@@1@20@@oe@2-2-2013
20977006@unknown@formal@none@1@S@L.J. Hooker's planned sale of Merksamer is subject to approval by Judge Tina Brozman of U.S. Bankruptcy Court.@@@@1@18@@oe@2-2-2013
20977007@unknown@formal@none@1@S@Rumors to the effect that the Merksamer chain would file for Chapter 11 arose last week in the jewelry industry.@@@@1@20@@oe@2-2-2013
20977008@unknown@formal@none@1@S@At that time, Sam Merksamer, president of the chain, angrily denied that his company was about to file.@@@@1@18@@oe@2-2-2013
20977009@unknown@formal@none@1@S@Mr. Merksamer is leading the buy-out.@@@@1@6@@oe@2-2-2013
20977010@unknown@formal@none@1@S@According to executives close to the situation, Merksamer filed for Chapter 11 to speed the sale of the chain.@@@@1@19@@oe@2-2-2013
20977011@unknown@formal@none@1@S@One executive said an accord signed by the unsecured creditors of L.J. Hooker Corp. had frozen in place all of L.J. Hooker's assets.@@@@1@23@@oe@2-2-2013
20977012@unknown@formal@none@1@S@The Merksamer bankruptcy-law filing appears to supersede that agreement.@@@@1@9@@oe@2-2-2013
20977013@unknown@formal@none@1@S@"By filing for Chapter 11, the Merksamer chain will only need approval from a bankruptcy judge for the sale, not the hundreds of unsecured creditors," said this executive.@@@@1@28@@oe@2-2-2013
20977014@unknown@formal@none@1@S@"The cash from the sale will go to L.J. Hooker, but the company itself will belong to Sam Merksamer."@@@@1@19@@oe@2-2-2013
20977015@unknown@formal@none@1@S@Mr. Merksamer and Sanford Sigoloff, chief executive of L.J. Hooker, were unavailable for comment.@@@@1@14@@oe@2-2-2013
20977016@unknown@formal@none@1@S@In a statement, Mr. Merksamer described the filing as a "legal technicality," but also said that "our inability to obtain trade credit, combined with a need to ensure that our stores were properly stocked for the Christmas season, necessitated our filing Chapter 11."@@@@1@43@@oe@2-2-2013
20977017@unknown@formal@none@1@S@The jewelry chain, which is based in Sacramento, Calif., had revenue of $62 million and operating profit of $2.5 million for the year ended June 30.@@@@1@26@@oe@2-2-2013
20978001@unknown@formal@none@1@S@For all of this year's explosive run-up in stock prices, Renaissance Investment Management Inc.'s computer sat on the sidelines.@@@@1@19@@oe@2-2-2013
20978002@unknown@formal@none@1@S@Now it's on the fence.@@@@1@5@@oe@2-2-2013
20978003@unknown@formal@none@1@S@Renaissance, a Cincinnati-based money manager, began buying stocks again this week with half of the $1.8 billion that it oversees for clients, according to people familiar with the firm's revised strategy.@@@@1@31@@oe@2-2-2013
20978004@unknown@formal@none@1@S@It was the first time since January that Renaissance has thought stocks are worth owning.@@@@1@15@@oe@2-2-2013
20978005@unknown@formal@none@1@S@Renaissance declined to confirm the move, but its stock purchases were thought to have begun Tuesday, timed to coincide with the maturity this week of Treasury bills owned by the firm.@@@@1@31@@oe@2-2-2013
20978006@unknown@formal@none@1@S@The other half of its portfolio is expected to remain invested in Treasury bills for the time being.@@@@1@18@@oe@2-2-2013
20978007@unknown@formal@none@1@S@Wall Street executives said they believed that Renaissance's $900 million buy program was carried out by PaineWebber Inc.@@@@1@18@@oe@2-2-2013
20978008@unknown@formal@none@1@S@As reported, PaineWebber bought shares Tuesday as part of a customer strategy shift, although the broker's client was said then to have been Japanese.@@@@1@24@@oe@2-2-2013
20978009@unknown@formal@none@1@S@Yesterday, PaineWebber declined comment.@@@@1@4@@oe@2-2-2013
20978010@unknown@formal@none@1@S@When it owns stocks, Renaissance's portfolio typically is composed of about 60 large-capitalization issues; to make buy or sell moves, the firm solicits Wall Street brokerage houses a day or so in advance, looking for the best package price to carry out the trades.@@@@1@44@@oe@2-2-2013
20978011@unknown@formal@none@1@S@The broker winning the business doesn't charge commissions, but instead profits by buying or selling for less than the overall package price.@@@@1@22@@oe@2-2-2013
20978012@unknown@formal@none@1@S@That puts the broker at risk if it's trying to buy stock in a rising market.@@@@1@16@@oe@2-2-2013
20978013@unknown@formal@none@1@S@In Tuesday's gyrating session, the Dow Jones Industrial Average fell by 80 points early in the day, but finished with less than a four-point loss.@@@@1@25@@oe@2-2-2013
20978014@unknown@formal@none@1@S@Renaissance's last portfolio shift, carried out by Goldman, Sachs & Co., was a highly publicized decision last January to sell its entire stock portfolio and buy Treasury bills.@@@@1@28@@oe@2-2-2013
20978015@unknown@formal@none@1@S@The sell signal, which sent a bearish chill through the stock market, came when Renaissance's computer found that stocks were overpriced compared with bonds and Treasury bills.@@@@1@27@@oe@2-2-2013
20978016@unknown@formal@none@1@S@At the time, the Dow Jones Industrial Average stood at about 2200.@@@@1@12@@oe@2-2-2013
20978017@unknown@formal@none@1@S@The Dow average now stands more than 20% higher, while Renaissance's portfolio of Treasurys produced a return of about 6% through the first three quarters of the year.@@@@1@28@@oe@2-2-2013
20978018@unknown@formal@none@1@S@The computer's miscalculation has been painful for Renaissance.@@@@1@8@@oe@2-2-2013
20978019@unknown@formal@none@1@S@Almost any money manager holding stocks has turned in better results, while Renaissance has played it safe with Treasury bills.@@@@1@20@@oe@2-2-2013
20978020@unknown@formal@none@1@S@So why does Renaissance's computer like stocks with the Dow at 2653.28, where it closed yesterday, when it didn't with the Dow at 2200?@@@@1@24@@oe@2-2-2013
20978021@unknown@formal@none@1@S@"With the decline in stock prices and continued low or stable interest rates, stocks are representing a better value all the time," Renaissance President Frank W. Terrizzi said yesterday.@@@@1@29@@oe@2-2-2013
20978022@unknown@formal@none@1@S@Three-month T-bill yields have fallen to 7.8% from about 9% at the start of the year.@@@@1@16@@oe@2-2-2013
20978023@unknown@formal@none@1@S@Stock prices, meanwhile, are about 140 points lower than the peak of 2791.41 reached on the Dow industrial average Oct. 9.@@@@1@21@@oe@2-2-2013
20978024@unknown@formal@none@1@S@Are those declines enough to signal a partial return to stocks?@@@@1@11@@oe@2-2-2013
20978025@unknown@formal@none@1@S@Mr. Terrizzi won't say specifically, explaining that if there was such a move, it would take about three days to complete the loose ends of the transaction.@@@@1@27@@oe@2-2-2013
20978026@unknown@formal@none@1@S@During that time, a buyer with the clout of a Renaissance could end up driving up the price of stocks it was trying to buy if it tipped its hand.@@@@1@30@@oe@2-2-2013
20978027@unknown@formal@none@1@S@But everything is relative to Mr. Terrizzi, so stocks in his view can become more attractive in comparison with bonds or T-bills, even if shares are more expensive than when they were sold in January.@@@@1@35@@oe@2-2-2013
20978028@unknown@formal@none@1@S@"Our {computer} model has a certain trigger point," he said.@@@@1@10@@oe@2-2-2013
20978029@unknown@formal@none@1@S@When the computer says switch, Renaissance switches.@@@@1@7@@oe@2-2-2013
20978030@unknown@formal@none@1@S@The firm has made 17 previous shifts from one type of asset to another in its 10-year history.@@@@1@18@@oe@2-2-2013
20978031@unknown@formal@none@1@S@Almost all have involved at least half and often the firm's entire portfolio, as the computer searches for the most undervalued investment category, following a money-management style called tactical asset allocation.@@@@1@31@@oe@2-2-2013
20978032@unknown@formal@none@1@S@Competing asset-allocation firms march to their own computer models, so some have been partly or fully invested in stocks this year while Renaissance has sat on the sidelines.@@@@1@28@@oe@2-2-2013
20978033@unknown@formal@none@1@S@As a result, competitors say Renaissance has been looking for any opportunity to return to the stock market, rather than risk losing business by continuing to remain fully invested in Treasury bills.@@@@1@32@@oe@2-2-2013
20978034@unknown@formal@none@1@S@Mr. Terrizzi confirms some clients have left Renaissance, but no major ones, and the firm has added new accounts.@@@@1@19@@oe@2-2-2013
20979001@unknown@formal@none@1@S@David Evans, who last week resigned as president and chief executive of Qintex Entertainment Inc. "for personal reasons" just as the company filed for bankruptcy-law protection, has been temporarily reappointed to both positions, the company said.@@@@1@36@@oe@2-2-2013
20979002@unknown@formal@none@1@S@Qintex Entertainment also said Chief Financial Officer and Treasurer Jonathan Lloyd, 37 years old, would join the nine-member board.@@@@1@19@@oe@2-2-2013
20979003@unknown@formal@none@1@S@He succeeds Roger Kimmel, who resigned last week saying his participation in evaluating the company's role in buying MGM/UA Communications Co. was no longer necessary.@@@@1@25@@oe@2-2-2013
20979004@unknown@formal@none@1@S@Mr. Evans will stay until a successor is found, but not later than the end of the year, the company said.@@@@1@21@@oe@2-2-2013
20979005@unknown@formal@none@1@S@It was the 49-year-old Mr. Evans who had moved into the offices of MGM/UA and run the company during Qintex Australia Ltd.'s aborted bid for the movie company.@@@@1@28@@oe@2-2-2013
20979006@unknown@formal@none@1@S@After MGM/UA terminated the $1.5 billion merger because of a dispute over a $50 million letter of credit, Qintex Entertainment -- which is 43%-owned by Qintex Australia -- found itself facing problems of its own.@@@@1@35@@oe@2-2-2013
20979007@unknown@formal@none@1@S@And the relationship between Qintex Entertainment and the Australian company appears to be quickly deteriorating.@@@@1@15@@oe@2-2-2013
20979008@unknown@formal@none@1@S@On Oct. 19, Qintex Entertainment was about to default on a $5.9 million payment owed to MCA Inc. in connection with the distribution of a television program.@@@@1@27@@oe@2-2-2013
20979009@unknown@formal@none@1@S@Qintex Entertainment was depending on Qintex Australia to arrange financing.@@@@1@10@@oe@2-2-2013
20979010@unknown@formal@none@1@S@But early on Oct. 19, the second of two hectic days of board meetings, Mr. Evans said he believed Qintex Australia wouldn't be forthcoming.@@@@1@24@@oe@2-2-2013
20979011@unknown@formal@none@1@S@He recommended that the company file for protection under Chapter 11 of the U.S. Bankruptcy Code before the MCA deadline, according to a source familiar with the sessions.@@@@1@28@@oe@2-2-2013
20979012@unknown@formal@none@1@S@But a majority of the board, which includes three members from the Australian company, overrode him.@@@@1@16@@oe@2-2-2013
20979013@unknown@formal@none@1@S@Mr. Evans resigned.@@@@1@3@@oe@2-2-2013
20979014@unknown@formal@none@1@S@Later in the day, according to the source, the board reversed itself, decided to file for bankruptcy protection, and asked Mr. Evans to stay on.@@@@1@25@@oe@2-2-2013
20979015@unknown@formal@none@1@S@Mr. Evans told the board he needed the weekend to think about it.@@@@1@13@@oe@2-2-2013
20979016@unknown@formal@none@1@S@Mr. Evans couldn't be reached yesterday for comment.@@@@1@8@@oe@2-2-2013
20979017@unknown@formal@none@1@S@Last Monday, Qintex Australia announced a restructuring plan and said it would sell off assets.@@@@1@15@@oe@2-2-2013
20979018@unknown@formal@none@1@S@Last week the company indicated it would cut back on the working capital it would supply to Qintex Entertainment.@@@@1@19@@oe@2-2-2013
20979019@unknown@formal@none@1@S@Separately, a Qintex Entertainment shareholder filed suit in federal court in Los Angeles charging Qintex Australia with misleading shareholders about Qintex Entertainment's financial position.@@@@1@24@@oe@2-2-2013
20979020@unknown@formal@none@1@S@Qintex Australia said it hadn't seen the suit and couldn't comment.@@@@1@11@@oe@2-2-2013
20980001@unknown@formal@none@1@S@The Sept. 25 "Tracking Travel" column advises readers to "Charge With Caution When Traveling Abroad" because credit-card companies charge 1% to convert foreign-currency expenditures into dollars.@@@@1@26@@oe@2-2-2013
20980002@unknown@formal@none@1@S@In fact, this is the best bargain available to someone traveling abroad.@@@@1@12@@oe@2-2-2013
20980003@unknown@formal@none@1@S@In contrast to the 1% conversion fee charged by Visa, foreign-currency dealers routinely charge 7% or more to convert U.S. dollars into foreign currency.@@@@1@24@@oe@2-2-2013
20980004@unknown@formal@none@1@S@On top of this, the traveler who converts his dollars into foreign currency before the trip starts will lose interest from the day of conversion.@@@@1@25@@oe@2-2-2013
20980005@unknown@formal@none@1@S@At the end of the trip, any unspent foreign exchange will have to be converted back into dollars, with another commission due.@@@@1@22@@oe@2-2-2013
20980006@unknown@formal@none@1@S@The card holder will pay the modest 1% fee only on the amounts actually needed.@@@@1@15@@oe@2-2-2013
20980007@unknown@formal@none@1@S@Typically, he will be billed only several weeks after the expenditure, and then has another couple of weeks before he has to pay the bill.@@@@1@25@@oe@2-2-2013
20980008@unknown@formal@none@1@S@In the meantime, the money can continue to earn interest for the card holder -- often more than 1% during that "float" period alone.@@@@1@24@@oe@2-2-2013
20980009@unknown@formal@none@1@S@Daniel Brigham@@@@1@2@@oe@2-2-2013
20980010@unknown@formal@none@1@S@Visa U.S.A. Inc.@@@@1@3@@oe@2-2-2013
20981001@unknown@formal@none@1@S@MGM Grand Inc. has agreed to pay $93 million and nearly 1.8 million common shares to buy 117 acres of land along the Las Vegas, Nev., Strip as a site for its planned movie-studio and theme-park resort.@@@@1@37@@oe@2-2-2013
20981002@unknown@formal@none@1@S@Of the total purchase price, $50 million cash and $30 million in stock (nearly 1.8 million shares) would be paid to buy the existing 700-room Marina Hotel & Casino from Southwest Securities, a Nevada limited partnership.@@@@1@36@@oe@2-2-2013
20981003@unknown@formal@none@1@S@The remaining properties to be acquired are the Tropicana Country Club & Golf Course, a facility jointly owned by Ramada Inc., of Phoenix, Ariz., and the Jaffe family, and a small parcel owned by MGM Grand director James D. Aljian.@@@@1@40@@oe@2-2-2013
20981004@unknown@formal@none@1@S@The purchase price was disclosed in a preliminary prospectus issued in connection with MGM Grand's planned offering of six million common shares.@@@@1@22@@oe@2-2-2013
20981005@unknown@formal@none@1@S@The luxury airline and casino company, 98.6%-owned by investor Kirk Kerkorian and his Tracinda Corp., earlier this month announced its agreements to acquire the properties, but didn't disclose the purchase price.@@@@1@31@@oe@2-2-2013
20981006@unknown@formal@none@1@S@The proposed stock offering and issuance of nearly 1.8 million common shares in connection with the land purchase will bring MGM Grand's total shares outstanding to 28.7 million, of which 72% will be owned by Mr. Kerkorian and Tracinda, according to the prospectus.@@@@1@43@@oe@2-2-2013
20981007@unknown@formal@none@1@S@In over-the-counter trading, MGM Grand was bid at $17.50 a share.@@@@1@11@@oe@2-2-2013
20981008@unknown@formal@none@1@S@Proceeds from the offering are expected to be used for remodeling the company's Desert Inn resort in Las Vegas, refurbishing certain aircraft of the MGM Grand Air unit, and to acquire the property for the new resort.@@@@1@37@@oe@2-2-2013
20981009@unknown@formal@none@1@S@The company said it estimates the Desert Inn remodeling will cost about $32 million, and the refurbishment of the three DC-8-62 aircraft, made by McDonnell Douglas Corp., will cost around $24.5 million.@@@@1@32@@oe@2-2-2013
20981010@unknown@formal@none@1@S@MGM Grand said the latest stock offering won't cover the $600 million or more cost of building the proposed resort and theme park, and added it will need to seek additional financing, either through bank borrowings or debt and equity offerings, at a later date.@@@@1@45@@oe@2-2-2013
20981011@unknown@formal@none@1@S@Construction is set to begin in early 1991.@@@@1@8@@oe@2-2-2013
20981012@unknown@formal@none@1@S@The resort will include the MGM Grand Hotel, a multi-spired, castle-like facility that will include 5,000 rooms and 85,000 square feet of casino space.@@@@1@24@@oe@2-2-2013
20981013@unknown@formal@none@1@S@The facility will be marketed toward families, and room rates will be between $35 and $55 a night, MGM Grand said.@@@@1@21@@oe@2-2-2013
20981014@unknown@formal@none@1@S@The prospectus didn't include many details about the studio and theme park, although conceptual drawings, released this month, show that it may feature several "themed" areas similar to those found at parks built by Walt Disney Co.@@@@1@37@@oe@2-2-2013
20982001@unknown@formal@none@1@S@Investors poured $2.8 billion more into money-market mutual funds in the latest week despite further declines in yields.@@@@1@18@@oe@2-2-2013
20982002@unknown@formal@none@1@S@Assets of the 400 taxable funds tracked by IBC/Donoghue's Money Fund Report jumped to $351.2 billion in the week ended Tuesday, the Holliston, Mass.-based newsletter said.@@@@1@26@@oe@2-2-2013
20982003@unknown@formal@none@1@S@Assets soared $4.5 billion in the previous week.@@@@1@8@@oe@2-2-2013
20982004@unknown@formal@none@1@S@Meanwhile, the average yield on taxable funds dropped nearly a tenth of a percentage point, the largest drop since midsummer.@@@@1@20@@oe@2-2-2013
20982005@unknown@formal@none@1@S@The average seven-day compound yield, which assumes that dividends are reinvested and that current rates continue for a year, fell to 8.47%, its lowest since late last year, from 8.55% the week before, according to Donoghue's.@@@@1@36@@oe@2-2-2013
20982006@unknown@formal@none@1@S@"Lower yields are just reflecting lower short-term interest rates," said Brenda Malizia Negus, editor of Money Fund Report.@@@@1@18@@oe@2-2-2013
20982007@unknown@formal@none@1@S@Money funds invest in such things as short-term Treasury securities, commercial paper and certificates of deposit, all of which have been posting lower interest rates since last spring.@@@@1@28@@oe@2-2-2013
20982008@unknown@formal@none@1@S@Individual investors can still get better yields on money funds than on many other short-term instruments.@@@@1@16@@oe@2-2-2013
20982009@unknown@formal@none@1@S@The yield on six-month Treasury bills sold at Monday's auction, for example, was just 7.77%.@@@@1@15@@oe@2-2-2013
20982010@unknown@formal@none@1@S@The average yield on six-month CDs of $50,000 or less at major banks was 7.96% in the week ended Tuesday, according to Banxquote Money Markets, a New York information service.@@@@1@30@@oe@2-2-2013
20982011@unknown@formal@none@1@S@One way that money fund managers boost yields in a declining rate environment is by extending the maturities of their investments, so they can earn the current higher rates for a longer period.@@@@1@33@@oe@2-2-2013
20982012@unknown@formal@none@1@S@The average maturity of the taxable funds that Donoghue's follows increased by two days in the latest week to 40 days, its longest since August.@@@@1@25@@oe@2-2-2013
20982013@unknown@formal@none@1@S@"They're anticipating further declines in rates and they're going to get them, slowly," said Walter Frank, chief economist for the Donoghue Organization, publisher of Money Fund Report.@@@@1@27@@oe@2-2-2013
20982014@unknown@formal@none@1@S@Average maturity was as short as 29 days at the start of this year, when short-term interest rates were moving steadily upward.@@@@1@22@@oe@2-2-2013
20982015@unknown@formal@none@1@S@The average seven-day compound yield of the funds reached 9.62% in late April.@@@@1@13@@oe@2-2-2013
20982016@unknown@formal@none@1@S@The highest-yielding funds are still above 9%.@@@@1@7@@oe@2-2-2013
20982017@unknown@formal@none@1@S@The top-performing fund in the latest week was Dreyfus Worldwide Dollar, with a seven-day compound yield of 9.45%.@@@@1@18@@oe@2-2-2013
20982018@unknown@formal@none@1@S@The fund invests heavily in dollar-denominated money-market securities overseas.@@@@1@9@@oe@2-2-2013
20982019@unknown@formal@none@1@S@It is currently waiving management fees, which contributes to the higher yield.@@@@1@12@@oe@2-2-2013
20982020@unknown@formal@none@1@S@The average seven-day simple yield of the 400 funds fell to 8.14% from 8.21%, Donoghue's reported.@@@@1@16@@oe@2-2-2013
20982021@unknown@formal@none@1@S@The average 30-day simple yield slid to 8.22% from 8.26%, and the average 30-day compound yield fell to 8.56% from 8.60%.@@@@1@21@@oe@2-2-2013
20983001@unknown@formal@none@1@S@Many small investors are facing a double whammy this year: They got hurt by investing in the highly risky junk bond market, and the pain is worse because they did it with borrowed money.@@@@1@34@@oe@2-2-2013
20983002@unknown@formal@none@1@S@These people invested in "leveraged" junk bond mutual funds, the publicly traded funds that make a habit of taking out loans to buy extra junk.@@@@1@25@@oe@2-2-2013
20983003@unknown@formal@none@1@S@It's a good strategy in a rising market, where a 25% leveraged portfolio in effect allows investors to have 125% of their money working for them.@@@@1@26@@oe@2-2-2013
20983004@unknown@formal@none@1@S@The strategy boosts current yield by putting more bonds into the portfolio.@@@@1@12@@oe@2-2-2013
20983005@unknown@formal@none@1@S@Trouble is, junk bond prices have been weak for months.@@@@1@10@@oe@2-2-2013
20983006@unknown@formal@none@1@S@Thus, the leverage has amplified the funds' portfolio losses.@@@@1@9@@oe@2-2-2013
20983007@unknown@formal@none@1@S@And shares of leveraged junk funds this year have been clobbered even harder than the junk bonds they hold.@@@@1@19@@oe@2-2-2013
20983008@unknown@formal@none@1@S@"That's really where the leverage hurt," says Thomas Herzfeld, a Miami-based investment manager who specializes in closed-end funds.@@@@1@18@@oe@2-2-2013
20983009@unknown@formal@none@1@S@"Share prices performed even worse than the funds' asset values because fear has taken hold" in the junk market, he says.@@@@1@21@@oe@2-2-2013
20983010@unknown@formal@none@1@S@Leverage is never a problem for the traditional "open end" mutual funds, which aren't publicly traded and aren't allowed to use leverage at all.@@@@1@24@@oe@2-2-2013
20983011@unknown@formal@none@1@S@Leverage is used only by some of the closed-end funds.@@@@1@10@@oe@2-2-2013
20983012@unknown@formal@none@1@S@The usual maneuver is to borrow against the portfolio value or issue preferred stock, using the proceeds to buy additional bonds.@@@@1@21@@oe@2-2-2013
20983013@unknown@formal@none@1@S@The fallout for investors lately has been painful.@@@@1@8@@oe@2-2-2013
20983014@unknown@formal@none@1@S@Consider the New America High Income Fund.@@@@1@7@@oe@2-2-2013
20983015@unknown@formal@none@1@S@With a leveraged position of about 45%, the fund's share price has plunged 28.5% so far this year.@@@@1@18@@oe@2-2-2013
20983016@unknown@formal@none@1@S@That's worse than the price drop sustained by the bonds in its portfolio, whose total return (bond-price changes plus interest) has amounted to a negative 6.08%.@@@@1@26@@oe@2-2-2013
20983017@unknown@formal@none@1@S@Such problems may not be over.@@@@1@6@@oe@2-2-2013
20983018@unknown@formal@none@1@S@Leveraged funds in particular "are still extremely vulnerable, because we're still at the beginning of problems in the junk market," says George Foot, a managing partner at Newgate Management Associates in Northampton, Mass.@@@@1@33@@oe@2-2-2013
20983019@unknown@formal@none@1@S@Many investors are unaware their funds have borrowed to speculate in such a risky market.@@@@1@15@@oe@2-2-2013
20983020@unknown@formal@none@1@S@"If someone actually sat down and thought about what they were being sold," says Gerald Perritt, editor of the Mutual Fund Letter in Chicago, they might shy away.@@@@1@28@@oe@2-2-2013
20983021@unknown@formal@none@1@S@In a typical leverage strategy, a fund tries to capture the spread between what it costs to borrow and the higher return on the bonds it buys with the borrowed money.@@@@1@31@@oe@2-2-2013
20983022@unknown@formal@none@1@S@If the market surges, holders can make that much more profit; the leverage effectively acts as an interest-free margin account for investors.@@@@1@22@@oe@2-2-2013
20983023@unknown@formal@none@1@S@But when the market moves against the fund, investors lose more than other junk holders because the market decline is magnified by the amount the fund is leveraged.@@@@1@28@@oe@2-2-2013
20983024@unknown@formal@none@1@S@Fund managers, for their part, defend their use of leverage.@@@@1@10@@oe@2-2-2013
20983025@unknown@formal@none@1@S@Carl Ericson, who runs the Colonial Intermediate High Income Fund, says the fund's 25% leverage has jacked up its interest income.@@@@1@21@@oe@2-2-2013
20983026@unknown@formal@none@1@S@"As long as I am borrowing at 9.9% and each {bond} yields over that, it enhances the yield," he maintains.@@@@1@20@@oe@2-2-2013
20983027@unknown@formal@none@1@S@Mr. Ericson says he tries to offset the leverage by diversifying the fund's portfolio.@@@@1@14@@oe@2-2-2013
20983028@unknown@formal@none@1@S@Yet some funds have pulled in their horns.@@@@1@8@@oe@2-2-2013
20983029@unknown@formal@none@1@S@New America High Income Fund recently said that it plans to reduce its leverage position by buying back $5 million in preferred stock and notes from investors.@@@@1@27@@oe@2-2-2013
20983030@unknown@formal@none@1@S@The fund made a similar move earlier this year.@@@@1@9@@oe@2-2-2013
20983031@unknown@formal@none@1@S@"We are trying to increase our flexibility," says Ellen E. Terry, a vice president at Ostrander Capital Management, the fund's investment adviser.@@@@1@22@@oe@2-2-2013
20983032@unknown@formal@none@1@S@She declined to elaborate and wouldn't disclose the fund's recent purchases, sales or cash position.@@@@1@15@@oe@2-2-2013
20983033@unknown@formal@none@1@S@Ms. Terry did say the fund's recent performance "illustrates what happens in a leveraged product" when the market doesn't cooperate.@@@@1@20@@oe@2-2-2013
20983034@unknown@formal@none@1@S@"When the market turns around," she says, "it will give a nice picture" of how leverage can help performance.@@@@1@19@@oe@2-2-2013
20983035@unknown@formal@none@1@S@Several leveraged funds don't want to cut the amount they borrow because it would slash the income they pay shareholders, fund officials said.@@@@1@23@@oe@2-2-2013
20983036@unknown@formal@none@1@S@But a few funds have taken other defensive steps.@@@@1@9@@oe@2-2-2013
20983037@unknown@formal@none@1@S@Some have raised their cash positions to record levels.@@@@1@9@@oe@2-2-2013
20983038@unknown@formal@none@1@S@High cash positions help buffer a fund when the market falls.@@@@1@11@@oe@2-2-2013
20983039@unknown@formal@none@1@S@Prospect Street High Income Portfolio, for instance, now holds about 15% in cash and equivalents, nearly quintuple the amount it held earlier this year, says John Frabotta, portfolio co-manager.@@@@1@29@@oe@2-2-2013
20983040@unknown@formal@none@1@S@He says the fund, which is 40% leveraged, has maintained a "substantial cushion" between its borrowing costs and the yields of the portfolio's bonds.@@@@1@24@@oe@2-2-2013
20983041@unknown@formal@none@1@S@"I don't want to be in a position to have to sell," Mr. Frabotta says.@@@@1@15@@oe@2-2-2013
20983042@unknown@formal@none@1@S@Other funds have recently sold weak junk bonds to raise cash.@@@@1@11@@oe@2-2-2013
20983043@unknown@formal@none@1@S@At the 50%-leveraged Zenith Income Fund, portfolio manager John Bianchi recently dumped Mesa Petroleum, Wickes and Horsehead Industries, among others, to raise his cash position to a record 15%.@@@@1@29@@oe@2-2-2013
20983044@unknown@formal@none@1@S@"That's a problem because cash isn't earning us very much money," Mr. Bianchi says.@@@@1@14@@oe@2-2-2013
20983045@unknown@formal@none@1@S@He concedes: "This is the most difficult market that I've been involved in."@@@@1@13@@oe@2-2-2013