21100001@unknown@formal@none@1@S@Westinghouse Electric Corp. said it will buy Shaw-Walker Co.@@@@1@9@@oe@2-2-2013
21100002@unknown@formal@none@1@S@Terms weren't disclosed.@@@@1@3@@oe@2-2-2013
21100003@unknown@formal@none@1@S@Shaw-Walker, based in Muskegon, Mich., makes metal files and desks, and seating and office systems furniture.@@@@1@16@@oe@2-2-2013
21101001@unknown@formal@none@1@S@Israel has launched a new effort to prove the Palestine Liberation Organization continues to practice terrorism, and thus to persuade the U.S. to break off talks with the group.@@@@1@29@@oe@2-2-2013
21101002@unknown@formal@none@1@S@U.S. officials, however, said they aren't buying the Israeli argument.@@@@1@10@@oe@2-2-2013
21101003@unknown@formal@none@1@S@Israeli counterterrorism officials provided the State Department with a 20-page list of recent terrorist incidents they attribute directly to forces controlled by PLO Chairman Yasser Arafat.@@@@1@26@@oe@2-2-2013
21101004@unknown@formal@none@1@S@Mr. Arafat publicly renounced terrorism Dec. 15, satisfying the U.S. precondition for a direct "dialogue" with the PLO.@@@@1@18@@oe@2-2-2013
21101005@unknown@formal@none@1@S@A U.S. counterterrorism official said experts are studying the Israeli list.@@@@1@11@@oe@2-2-2013
21101006@unknown@formal@none@1@S@"We have no independent evidence linking Fatah to any acts of terrorism since Dec. 15, 1988," he said, referring to the specific PLO group that Mr. Arafat heads.@@@@1@28@@oe@2-2-2013
21101007@unknown@formal@none@1@S@"So far, this list doesn't change our view.@@@@1@8@@oe@2-2-2013
21101008@unknown@formal@none@1@S@Israel wants to end the dialogue, but our analysts take a different view than theirs."@@@@1@15@@oe@2-2-2013
21101009@unknown@formal@none@1@S@Israeli Prime Minister Yitzhak Shamir's top adviser on counterterrorism, Yigal Carmon, was here Monday to present the report to members of Congress, reporters and others.@@@@1@25@@oe@2-2-2013
21101010@unknown@formal@none@1@S@Mr. Carmon said he also presented the list last week to William Brown, U.S. Ambassador to Israel.@@@@1@17@@oe@2-2-2013
21101011@unknown@formal@none@1@S@Separately, the New York Times reported that the Israeli government had provided its correspondent in Jerusalem with different documents that Israel said prove the PLO has been conducting terrorism from the occupied Arab territories.@@@@1@34@@oe@2-2-2013
21101012@unknown@formal@none@1@S@The State Department said it hasn't yet seen copies of those papers.@@@@1@12@@oe@2-2-2013
21101013@unknown@formal@none@1@S@"If the dialogue was based on the assumption that Arafat or the PLO would stop terrorism, and we have evidence of continued terrorism, what would be the logical conclusion?" Mr. Carmon asked.@@@@1@32@@oe@2-2-2013
21101014@unknown@formal@none@1@S@Israel has long claimed Mr. Arafat never meant to renounce terrorism, particularly because he and his lieutenants reserved the right to press "armed struggle" against the Jewish state.@@@@1@28@@oe@2-2-2013
21101015@unknown@formal@none@1@S@Now, Jerusalem says it is backing up its contention with detailed accounts of alleged terrorist acts and plans linked to Mr. Arafat.@@@@1@22@@oe@2-2-2013
21101016@unknown@formal@none@1@S@It blames most of these on Fatah.@@@@1@7@@oe@2-2-2013
21101017@unknown@formal@none@1@S@The new accusations come at a delicate time in U.S. efforts to bring about talks between Israel and Palestinian representatives.@@@@1@20@@oe@2-2-2013
21101018@unknown@formal@none@1@S@The State Department said it had received a new letter on the subject from Israeli Foreign Minister Moshe Arens, restating Israel's previous objection to negotiating with any Palestinian tied to the PLO.@@@@1@32@@oe@2-2-2013
21101019@unknown@formal@none@1@S@Deciding what constitutes "terrorism" can be a legalistic exercise.@@@@1@9@@oe@2-2-2013
21101020@unknown@formal@none@1@S@The U.S. defines it as "premediated, politically motivated violence perpetrated against noncombatant targets by subnational groups or clandestine state agents."@@@@1@20@@oe@2-2-2013
21101021@unknown@formal@none@1@S@To meet the U.S. criteria, Israel contended it only listed incidents that involved civilians and occurred inside its pre-1967 borders.@@@@1@20@@oe@2-2-2013
21101022@unknown@formal@none@1@S@At the heart of Israel's report is a list of a dozen incidents Jerusalem attributes to Fatah, including the use of bombs and Molotov cocktails.@@@@1@25@@oe@2-2-2013
21101023@unknown@formal@none@1@S@But U.S. officials say they aren't satisfied these incidents constitute terrorism because they may be offshoots of the intifadah, the Palestinian rebellion in the occupied territories, which the U.S. doesn't classify as terrorism.@@@@1@33@@oe@2-2-2013
21101024@unknown@formal@none@1@S@In addition, the officials say Israel hasn't presented convincing evidence these acts were ordered by Fatah or by any group Mr. Arafat controls.@@@@1@23@@oe@2-2-2013
21101025@unknown@formal@none@1@S@U.S. terrorism experts also say they are highly uncertain about the veracity of the separate documents leaked to the New York Times.@@@@1@22@@oe@2-2-2013
21101026@unknown@formal@none@1@S@The papers, which Israel says were discovered in Israeli-occupied Gaza, refer to terrorist acts to be carried out in the name of a group called "the Revolutionary Eagles."@@@@1@28@@oe@2-2-2013
21101027@unknown@formal@none@1@S@Some supporters of Israel say U.S. policy on Palestinian terrorism is colored by an intense desire to maintain the dialogue with the PLO.@@@@1@23@@oe@2-2-2013
21101028@unknown@formal@none@1@S@But State Department officials accuse Israel of leaking questionable claims to embarrass the U.S.@@@@1@14@@oe@2-2-2013
21102001@unknown@formal@none@1@S@The dollar finished lower yesterday, after tracking another rollercoaster session on Wall Street.@@@@1@13@@oe@2-2-2013
21102002@unknown@formal@none@1@S@Concern about the volatile U.S. stock market had faded in recent sessions, and traders appeared content to let the dollar languish in a narrow range until tomorrow, when the preliminary report on third-quarter U.S. gross national product is released.@@@@1@39@@oe@2-2-2013
21102003@unknown@formal@none@1@S@But seesaw gyrations in the Dow Jones Industrial Average yesterday put Wall Street back in the spotlight and inspired market participants to bid the U.S. unit lower.@@@@1@27@@oe@2-2-2013
21102004@unknown@formal@none@1@S@UAL's decision to remain an independent company sent share prices tumbling.@@@@1@11@@oe@2-2-2013
21102005@unknown@formal@none@1@S@By midmorning, the DJIA had plunged 80 points and foreign-exchange dealers quickly drove the dollar down.@@@@1@16@@oe@2-2-2013
21102006@unknown@formal@none@1@S@When the DJIA modestly rebounded, the dollar bounced back in choppy dealings but ended the day below the levels of late Monday.@@@@1@22@@oe@2-2-2013
21102007@unknown@formal@none@1@S@Stock prices, meanwhile, posted significant gains in later trading and closed down by only 3.69 points on the day.@@@@1@19@@oe@2-2-2013
21102008@unknown@formal@none@1@S@Some dealers said that the market's strong reaction to Wall Street reflects a general uneasiness about the dollar.@@@@1@18@@oe@2-2-2013
21102009@unknown@formal@none@1@S@They added that the DJIA's swift drop proved an easy excuse for the market to drive the U.S. currency in the direction it was already headed.@@@@1@26@@oe@2-2-2013
21102010@unknown@formal@none@1@S@In late New York trading yesterday, the dollar was quoted at 1.8355 marks, down from 1.8470 marks Monday, and at 141.45 yen, down from 141.90 yen late Monday.@@@@1@28@@oe@2-2-2013
21102011@unknown@formal@none@1@S@Sterling was quoted at $1.6055, up from $1.6030 late Monday.@@@@1@10@@oe@2-2-2013
21102012@unknown@formal@none@1@S@In Tokyo Wednesday, the U.S. currency opened for trading at 141.57 yen, down from Tuesday's Tokyo close of 142.10 yen.@@@@1@20@@oe@2-2-2013
21102013@unknown@formal@none@1@S@Tom Trettien, a vice president with Banque Paribas in New York, sees a break in the dollar's long-term upward trend, a trend that began in January 1988.@@@@1@27@@oe@2-2-2013
21102014@unknown@formal@none@1@S@He argues that the dollar is now "moving sideways," adding that "the next leg could be the beginning of a longer term bearish phase."@@@@1@24@@oe@2-2-2013
21102015@unknown@formal@none@1@S@Analysts peg the dollar's recent weakness to an underlying slowdown in the U.S. economy, highlighted by recent economic data, particularly a surprisingly sharp widening in the August U.S. trade gap.@@@@1@30@@oe@2-2-2013
21102016@unknown@formal@none@1@S@They also point out that narrowing interest-rate differentials between the U.S. and its major trading partners tend to make the U.S. currency less attractive to foreign investors.@@@@1@27@@oe@2-2-2013
21102017@unknown@formal@none@1@S@Despite several spurts of dollar trading, it was noted that mark-yen cross trade grabbed much of the market's attention.@@@@1@19@@oe@2-2-2013
21102018@unknown@formal@none@1@S@Following the dive in U.S. stocks, the mark has strengthened more than its major counterparts.@@@@1@15@@oe@2-2-2013
21102019@unknown@formal@none@1@S@Traders attribute the mark's surge to a robust West German economy and higher rate differentials.@@@@1@15@@oe@2-2-2013
21102020@unknown@formal@none@1@S@But, they add that the mark's strength is in part a reflection of a shift away from U.S. assets by Japanese investors into West German investments.@@@@1@26@@oe@2-2-2013
21102021@unknown@formal@none@1@S@"The question remains: how much can the West German market absorb?" says one senior dealer.@@@@1@15@@oe@2-2-2013
21102022@unknown@formal@none@1@S@Some dealers say that Bank of Japan Governor Satoshi Sumita's reassurance that Japanese monetary policy won't be changed for the time being has given investors an added excuse to push the yen down even further against the mark.@@@@1@38@@oe@2-2-2013
21102023@unknown@formal@none@1@S@Despite the yen's weakness with respect to the mark, Tokyo traders say they don't expect the Bank of Japan to take any action to support the Japanese currency on that front.@@@@1@31@@oe@2-2-2013
21102024@unknown@formal@none@1@S@Meanwhile, sterling slumped on news that the United Kingdom posted a wider-than-expected trade deficit in September.@@@@1@16@@oe@2-2-2013
21102025@unknown@formal@none@1@S@The news also knocked the British unit to below 2.95 marks in London, but a bout of short-covering helped sterling recoup some of its earlier losses.@@@@1@26@@oe@2-2-2013
21102026@unknown@formal@none@1@S@On the Commodity Exchange in New York, gold for current delivery jumped $3.20 to $370.20 an ounce.@@@@1@17@@oe@2-2-2013
21102027@unknown@formal@none@1@S@The close was the highest since Aug. 15.@@@@1@8@@oe@2-2-2013
21102028@unknown@formal@none@1@S@Estimated volume was a light two million ounces.@@@@1@8@@oe@2-2-2013
21102029@unknown@formal@none@1@S@In early trading in Hong Kong Wednesday, gold was quoted at $368.25 an ounce.@@@@1@14@@oe@2-2-2013
21103001@unknown@formal@none@1@S@Boston Co., the upper-crust financial services concern that was rocked by a management scandal late last year, has had a sharp drop in profitability -- mainly because a high-risk bet on interest rates backfired.@@@@1@34@@oe@2-2-2013
21103002@unknown@formal@none@1@S@Boston Co.'s fall from grace is bad news for its parent, Shearson Lehman Hutton Holdings Inc., which has relied heavily on the banking and money management unit's contributions in recent years.@@@@1@31@@oe@2-2-2013
21103003@unknown@formal@none@1@S@In 1988, for example, Boston Co. had an estimated pretax profit of at least $110 million, while Shearson managed net income of just $96 million.@@@@1@25@@oe@2-2-2013
21103004@unknown@formal@none@1@S@Shearson doesn't break out the earnings of its subsidiaries.@@@@1@9@@oe@2-2-2013
21103005@unknown@formal@none@1@S@But people familiar with Boston Co.'s performance say the unit had profit of around $17 million for the third quarter, after barely breaking even for the first six months.@@@@1@29@@oe@2-2-2013
21103006@unknown@formal@none@1@S@Shearson, meanwhile, posted net income of $106 million for the first nine months of the year, down slightly from $110 million for the year-ago period.@@@@1@25@@oe@2-2-2013
21103007@unknown@formal@none@1@S@Moody's Investors Service Inc. last week downgraded the long-term deposit rating of Boston Co.'s Boston Safe Deposit & Trust Co. subsidiary, to single-A-1 from double-A-3, citing problems in the company's "aggressively managed securities portfolio."@@@@1@34@@oe@2-2-2013
21103008@unknown@formal@none@1@S@John Kriz, a Moody's vice president, said Boston Safe Deposit's performance has been hurt this year by a mismatch in the maturities of its assets and liabilities.@@@@1@27@@oe@2-2-2013
21103009@unknown@formal@none@1@S@The mismatch exposed the company to a high degree of interest-rate risk, and when rates moved unfavorably -- beginning late last year and continuing into this year -- "it cost them," Mr. Kriz said.@@@@1@34@@oe@2-2-2013
21103010@unknown@formal@none@1@S@Mr. Kriz noted that Boston Safe Deposit "has taken some actions to better control asset-liability management and improve controls in general, and we think these will serve to improve credit quality."@@@@1@31@@oe@2-2-2013
21103011@unknown@formal@none@1@S@As some securities mature and the proceeds are reinvested, the problems ought to ease, he said.@@@@1@16@@oe@2-2-2013
21103012@unknown@formal@none@1@S@But he also cited concerns over the company's mortgage exposure in the troubled New England real estate market.@@@@1@18@@oe@2-2-2013
21103013@unknown@formal@none@1@S@Boston Co. officials declined to comment on Moody's action or on the unit's financial performance this year -- except to deny a published report that outside accountants had discovered evidence of significant accounting errors in the first three quarters' results.@@@@1@40@@oe@2-2-2013
21103014@unknown@formal@none@1@S@An accounting controversy at the end of last year forced Boston Co. to admit it had overstated pretax profits by some $44 million.@@@@1@23@@oe@2-2-2013
21103015@unknown@formal@none@1@S@The resulting scandal led to the firing of James N. von Germeten as Boston Co.'s president and to the resignations of the company's chief financial officer and treasurer.@@@@1@28@@oe@2-2-2013
21103016@unknown@formal@none@1@S@The executives were accused of improperly deferring expenses and booking revenue early, in an effort to dress up results -- and perhaps bolster performance-related bonuses.@@@@1@25@@oe@2-2-2013
21103017@unknown@formal@none@1@S@Mr. von Germeten, in turn, attributed the controversy to judgmental errors by accountants and accused Shearson of conducting a "witch hunt."@@@@1@21@@oe@2-2-2013
21103018@unknown@formal@none@1@S@Mr. Kriz of Moody's said the problems in the securities portfolio stem largely from positions taken last year.@@@@1@18@@oe@2-2-2013
21103019@unknown@formal@none@1@S@The company's current management found itself "locked into this," he said.@@@@1@11@@oe@2-2-2013
21104001@unknown@formal@none@1@S@Mexico exported an average of 1,296,800 barrels of crude oil a day at an average of $15.31 a barrel during 1989's first eight months for a total of $4.82 billion, Petroleos Mexicanos S.A. said.@@@@1@34@@oe@2-2-2013
21104002@unknown@formal@none@1@S@The state petroleum monopoly said sales in the period gained 15%, and $262.4 million more than originally projected at an average of $10 a barrel on an export platform of 1,250,000 barrels a day.@@@@1@34@@oe@2-2-2013
21105001@unknown@formal@none@1@S@CHICAGO -@@@@1@2@@oe@2-2-2013
21105002@unknown@formal@none@1@S@Sears, Roebuck & Co. is struggling as it enters the critical Christmas season.@@@@1@13@@oe@2-2-2013
21105003@unknown@formal@none@1@S@Yesterday, the retailing and financial services giant reported a 16% drop in third-quarter earnings to $257.5 million, or 75 cents a share, from a restated $305 million, or 80 cents a share, a year earlier.@@@@1@35@@oe@2-2-2013
21105004@unknown@formal@none@1@S@But the news was even worse for Sears's core U.S. retailing operation, the largest in the nation.@@@@1@17@@oe@2-2-2013
21105005@unknown@formal@none@1@S@Sears said its U.S. stores had a loss of $6.9 million, their first deficit for the period in more than five years.@@@@1@22@@oe@2-2-2013
21105006@unknown@formal@none@1@S@Analysts estimated that sales at U.S. stores declined in the quarter, too.@@@@1@12@@oe@2-2-2013
21105007@unknown@formal@none@1@S@The results underscore Sears's difficulties in implementing the "everyday low pricing" strategy that it adopted in March as part of a broad attempt to revive its retailing business.@@@@1@28@@oe@2-2-2013
21105008@unknown@formal@none@1@S@Under the new approach, Sears set prices that were somewhere between its old "regular" and "sale" prices.@@@@1@17@@oe@2-2-2013
21105009@unknown@formal@none@1@S@The company said it would resort far less often to slashing prices to woo shoppers.@@@@1@15@@oe@2-2-2013
21105010@unknown@formal@none@1@S@Sears officials insist they don't intend to abandon the everyday pricing approach in the face of the poor results.@@@@1@19@@oe@2-2-2013
21105011@unknown@formal@none@1@S@Instead, a spokesman blames the dismal third-quarter showing on "an environment that is being distorted by a very harsh climate for sales of durable goods," which account for roughly two-thirds of Sears's annual merchandise volume.@@@@1@35@@oe@2-2-2013
21105012@unknown@formal@none@1@S@The new pricing strategy "is working," the spokesman asserted.@@@@1@9@@oe@2-2-2013
21105013@unknown@formal@none@1@S@He added that, after an initial surge triggered by an advertising blitz in March, Sears expected that the pricing program wouldn't have any effect on revenue.@@@@1@26@@oe@2-2-2013
21105014@unknown@formal@none@1@S@Sears has been counting on growth coming from the large displays of brand-name merchandise it is adding to its stores over the next two years in what it calls "power formats."@@@@1@31@@oe@2-2-2013
21105015@unknown@formal@none@1@S@But analysts say Sears faces an especially daunting challenge on the eve of the Christmas shopping season.@@@@1@17@@oe@2-2-2013
21105016@unknown@formal@none@1@S@"I believe everyday pricing in the current environment doesn't work," says Walter Loeb of Morgan Stanley & Co., pointing to soft durable-goods sales.@@@@1@23@@oe@2-2-2013
21105017@unknown@formal@none@1@S@"Sears is likely to be unsuccessful if it continues with its pricing policy when everyone else is offering unusual values."@@@@1@20@@oe@2-2-2013
21105018@unknown@formal@none@1@S@In what amounts to an admission that the transition hasn't gone as smoothly as Sears had hoped, the giant retailer is now trying new ways to drum up business without appearing to abandon its seven-month-old strategy.@@@@1@36@@oe@2-2-2013
21105019@unknown@formal@none@1@S@The company is highlighting more special deals in its advertising and stores, and it's offering to defer finance charges on certain big-ticket items.@@@@1@23@@oe@2-2-2013
21105020@unknown@formal@none@1@S@Sears is also stepping up its television ads and changing its message.@@@@1@12@@oe@2-2-2013
21105021@unknown@formal@none@1@S@In a new TV ad, for instance, a woman going through the Sunday newspaper brands as hype claims by other stores that they are offering goods for "50%, 60% and 70% off.@@@@1@32@@oe@2-2-2013
21105022@unknown@formal@none@1@S@" By lowering prices throughout its stores, she says, "Sears has the right idea."@@@@1@14@@oe@2-2-2013
21105023@unknown@formal@none@1@S@But the ad also mentions Sears's sales -- a topic that the retailer has avoided since switching to everyday pricing.@@@@1@20@@oe@2-2-2013
21105024@unknown@formal@none@1@S@"When Sears has a sale at a special price," the woman in the ad declares, "it's something you don't want to miss."@@@@1@22@@oe@2-2-2013
21105025@unknown@formal@none@1@S@Recent surveys by Leo J. Shapiro & Associates, a market research firm in Chicago, suggest that Sears is having a tough time attracting shoppers because it hasn't yet done enough to improve service or its selection of merchandise.@@@@1@38@@oe@2-2-2013
21105026@unknown@formal@none@1@S@The number of people who said they were more likely to shop at Sears fell in September to 37% from 66% in March, when Sears blanketed the airwaves with ads about its new pricing strategy.@@@@1@35@@oe@2-2-2013
21105027@unknown@formal@none@1@S@Moreover, the number of people who spontaneously cited lower prices as the reason for their interest in Sears declined to 16% in September from 33% in March.@@@@1@27@@oe@2-2-2013
21105028@unknown@formal@none@1@S@Just 5% of the respondents mentioned brands in September, up slightly from 2% in March.@@@@1@15@@oe@2-2-2013
21105029@unknown@formal@none@1@S@Only 2% of the people in September cited Sears's "friendly personnel."@@@@1@11@@oe@2-2-2013
21105030@unknown@formal@none@1@S@"The power of price as an appeal, which was very considerable in driving traffic in March and April, has diminished," says George Rosenbaum, president of Shapiro & Associates.@@@@1@28@@oe@2-2-2013
21105031@unknown@formal@none@1@S@"You see some improvement in these other areas, but it's a very small and slow process."@@@@1@16@@oe@2-2-2013
21105032@unknown@formal@none@1@S@For the third quarter, Sears said its total revenue rose 4.8% to $13.18 billion from $12.57 billion a year earlier.@@@@1@20@@oe@2-2-2013
21105033@unknown@formal@none@1@S@Net income at Sears's merchandise group, which includes international and credit card operations, as well as U.S. stores, fell 25%.@@@@1@20@@oe@2-2-2013
21105034@unknown@formal@none@1@S@Profit at Sears's Allstate insurance unit fell 38% to $126.1 million because of Hurricane Hugo, which inflicted the greatest single storm damage loss in the company's history.@@@@1@27@@oe@2-2-2013
21105035@unknown@formal@none@1@S@Sears said claims from the storm, as expected, reduced its third-quarter net by $80 million, or 23 cents a share.@@@@1@20@@oe@2-2-2013
21105036@unknown@formal@none@1@S@Allstate is expected to absorb another big hit in the fourth quarter as claims pour in from the San Francisco earthquake.@@@@1@21@@oe@2-2-2013
21105037@unknown@formal@none@1@S@But a spokesman said the quake won't have as big a financial impact on Allstate as Hurricane Hugo did.@@@@1@19@@oe@2-2-2013
21105038@unknown@formal@none@1@S@Net income at Sears's Dean Witter Financials Services group, meanwhile, rose nearly 32% to $35.7 million, reflecting improvements in its basic stock brokerage and Discover credit card businesses.@@@@1@28@@oe@2-2-2013
21105039@unknown@formal@none@1@S@Profit at Sears's Coldwell Banker Real Estate Group nearly quadrupled to $81.2 million because of gains on sales of property.@@@@1@20@@oe@2-2-2013
21105040@unknown@formal@none@1@S@In New York Stock Exchange composite trading yesterday, Sears shares closed at $40.50, up 87.5 cents.@@@@1@16@@oe@2-2-2013
21106001@unknown@formal@none@1@S@Oil imports to Japan rose 12% in September from year-earlier levels, according to statistics released by the government's Ministry of International Trade and Industry.@@@@1@24@@oe@2-2-2013
21106002@unknown@formal@none@1@S@The imports, totaling 98.5 million barrels, were 11% lower than August levels.@@@@1@12@@oe@2-2-2013
21106003@unknown@formal@none@1@S@The year-on-year rise was partly because of higher demand for petroleum products, and partly because of tax changes in 1988 that left oil companies with high inventories in the late-summer/early-FALL PERIOD.@@@@1@31@@oe@2-2-2013
21106004@unknown@formal@none@1@S@Imports of crude from the Middle East grew 17% from year-earlier levels, and Southeast Asian crude imports grew 43%.@@@@1@19@@oe@2-2-2013
21106005@unknown@formal@none@1@S@While Mideast crude imports were higher compared with year-earlier levels, they fell 18% compared with August imports.@@@@1@17@@oe@2-2-2013
21106006@unknown@formal@none@1@S@Southeast Asian crude imports, however, were 3.6% higher than August.@@@@1@10@@oe@2-2-2013
21107001@unknown@formal@none@1@S@This is in response to George Melloan's Business World column "The Housing Market Is a Bigger Mess Than You Think" (op-ed page, Sept. 26).@@@@1@24@@oe@2-2-2013
21107002@unknown@formal@none@1@S@In Houston, we have seen how bad the housing problem can become.@@@@1@12@@oe@2-2-2013
21107003@unknown@formal@none@1@S@Unused houses deteriorate rapidly, affecting the value of nearby homes; in a domino effect, the entire neighborhood can fall victim.@@@@1@20@@oe@2-2-2013
21107004@unknown@formal@none@1@S@At this stage some people just "walk away" from homes where the mortgage exceeds current market value.@@@@1@17@@oe@2-2-2013
21107005@unknown@formal@none@1@S@But most of them could have afforded to keep up their payments -- they chose not to do so.@@@@1@19@@oe@2-2-2013
21107006@unknown@formal@none@1@S@The problem is so vast that we need to try innovative solutions -- in small-scale experiments.@@@@1@16@@oe@2-2-2013
21107007@unknown@formal@none@1@S@Here are some ideas:@@@@1@4@@oe@2-2-2013
21107008@unknown@formal@none@1@S@1) Foreclosed homes could be sold by the FHA for no down payment (the biggest obstacle to young buyers), but with personal liability for the mortgage (no walking away by choice).@@@@1@31@@oe@2-2-2013
21107009@unknown@formal@none@1@S@2) Encourage long-term occupancy by forgiving one month's payment (off the tail end of the mortgage) for every six months paid; or perhaps have the down payment deferred to the end of the mortgage (balloon), but "forgiven" on a monthly pro-rata basis as long as the owner remains the occupant.@@@@1@50@@oe@2-2-2013
21107010@unknown@formal@none@1@S@3) Develop rental agreements with exclusive purchase options for the renter.@@@@1@11@@oe@2-2-2013
21107011@unknown@formal@none@1@S@An occupant will, in most every case, be better for the home and neighborhood than a vacant house.@@@@1@18@@oe@2-2-2013
21107012@unknown@formal@none@1@S@In this way, the house is not dumped on to a glutted market.@@@@1@13@@oe@2-2-2013
21107013@unknown@formal@none@1@S@John F. Merrill@@@@1@3@@oe@2-2-2013
21107014@unknown@formal@none@1@S@Houston@@@@1@1@@oe@2-2-2013
21107015@unknown@formal@none@1@S@The Federal Housing Administration, Veterans Administration and the Department of Housing and Urban Development further aggravate the problem of affordable housing stock by "buying in" to their foreclosed properties (of which there are, alas, many) at an inflated "balance due" -- say $80,000 on a house worth $55,000 -- instead of allowing a free market to price the house for what it's really worth.@@@@1@64@@oe@2-2-2013
21107016@unknown@formal@none@1@S@Worse, the properties then sit around deteriorating for maybe a year or so, but are resold eventually (because of the attractiveness of the low down payment, etc.) to a marginal buyer who can't afford both the mortgage and needed repairs; and having little vested interest that buyer will walk away and the vicious cycle repeats itself all over again.@@@@1@59@@oe@2-2-2013
21107017@unknown@formal@none@1@S@Paul Padget@@@@1@2@@oe@2-2-2013
21108001@unknown@formal@none@1@S@Italy's unemployment rate rose to 12% of the labor force in July from 11.9% in April, and was up from 11.7% a year earlier, according to quarterly figures from the state statistical institute.@@@@1@33@@oe@2-2-2013
21108002@unknown@formal@none@1@S@Istat said a national survey during the first week of July showed the number of job seekers was 2,888,000 up from 2,822,000 in April, and from 2,853,000 a year ago.@@@@1@30@@oe@2-2-2013
21108003@unknown@formal@none@1@S@The unemployment rate was by far the highest in the southern, so-called Mezzogiorno region.@@@@1@14@@oe@2-2-2013
21108004@unknown@formal@none@1@S@The southern unemployment rate rose to 21.3% in July from 21.2% in April and from 20.6% a year earlier.@@@@1@19@@oe@2-2-2013
21108005@unknown@formal@none@1@S@Istat said 369,000 more people were employed in July than in April.@@@@1@12@@oe@2-2-2013
21109001@unknown@formal@none@1@S@Xerox Corp.'s third-quarter net income grew 6.2% on 7.3% higher revenue, earning mixed reviews from Wall Street analysts.@@@@1@18@@oe@2-2-2013
21109002@unknown@formal@none@1@S@Quarter net for the business-machines and financial-services company rose to $155 million, or $1.41 a share, from $146 million, or $1.37 a share, in the year-earlier period.@@@@1@27@@oe@2-2-2013
21109003@unknown@formal@none@1@S@Revenue rose to $4.45 billion from $4.15 billion.@@@@1@8@@oe@2-2-2013
21109004@unknown@formal@none@1@S@In New York Stock Exchange composite trading, Xerox closed at $62.75 a share, up $1.@@@@1@15@@oe@2-2-2013
21109005@unknown@formal@none@1@S@Sales growth and profit in business products and systems -- Xerox's main business -- were "disappointing," said B. Alex Henderson, who follows the company for Prudential-Bache Securities Inc.@@@@1@28@@oe@2-2-2013
21109006@unknown@formal@none@1@S@Sales of Xerox copiers and other office products grew 1.6%; "we expected growth of 6% to 7%," Mr. Henderson said.@@@@1@20@@oe@2-2-2013
21109007@unknown@formal@none@1@S@Operating-profit margins slipped almost 18%, to 4.3% of sales, the analyst noted.@@@@1@12@@oe@2-2-2013
21109008@unknown@formal@none@1@S@Still, with competitors such as Eastman Kodak Co. faltering in copier sales, Xerox's sales increases "were encouraging," says Eugene Glazer of Dean Witter Reynolds Inc.@@@@1@25@@oe@2-2-2013
21109009@unknown@formal@none@1@S@"They are holding their own in a weak market, and the restructuring is working," he says.@@@@1@16@@oe@2-2-2013
21109010@unknown@formal@none@1@S@David T. Kearns, Xerox chairman and chief executive officer, cited the restructuring and "strong" cost controls for the 13% growth in profit from business products and systems operations.@@@@1@28@@oe@2-2-2013
21109011@unknown@formal@none@1@S@Mr. Glazer expects Xerox to experience tough sledding, though, in financial services because of rate pressures and uncertainty surrounding tax treatment of capital gains.@@@@1@24@@oe@2-2-2013
21109012@unknown@formal@none@1@S@In the quarter, the Crum & Forster insurance unit reported $200 million before tax of capital gains from property and casualty operations.@@@@1@22@@oe@2-2-2013
21109013@unknown@formal@none@1@S@The subsidiary also increased reserves by $140 million, however, and set aside an additional $25 million for claims connected with Hurricane Hugo.@@@@1@22@@oe@2-2-2013
21109014@unknown@formal@none@1@S@For the nine months, Xerox earned $492 million, or $4.55 a share, up 5.8% from $465 million, or $4.32 a share.@@@@1@21@@oe@2-2-2013
21109015@unknown@formal@none@1@S@Revenue rose 7.6% to $12.97 billion from $12.05 billion.@@@@1@9@@oe@2-2-2013
21110001@unknown@formal@none@1@S@New orders for durable goods fell back slightly in September after shooting up the month before, reflecting weakening auto demand after a spurt of orders for new 1990 models, the Commerce Department reported.@@@@1@33@@oe@2-2-2013
21110002@unknown@formal@none@1@S@Orders for military equipment, household appliances, machinery and other goods expected to last at least three years dipped 0.1% last month, to $126.68 billion, after leaping 3.9% in August, the department said.@@@@1@32@@oe@2-2-2013
21110003@unknown@formal@none@1@S@Most analysts had expected a sharper decline after the steep rise in August.@@@@1@13@@oe@2-2-2013
21110004@unknown@formal@none@1@S@Moreover, a recent government report showing widespread layoffs in manufacturing had contributed to perceptions that the manufacturing sector of the economy had slowed to a crawl.@@@@1@26@@oe@2-2-2013
21110005@unknown@formal@none@1@S@But many economists pointed to a 1.8% September rise in orders outside the volatile transportation category.@@@@1@16@@oe@2-2-2013
21110006@unknown@formal@none@1@S@That "suggests the manufacturing sector is not falling apart," said Sally Kleinman, an economist at Manufacturers Hanover Securities Corp. in New York.@@@@1@22@@oe@2-2-2013
21110007@unknown@formal@none@1@S@She added, however: "It is not robust by any means."@@@@1@10@@oe@2-2-2013
21110008@unknown@formal@none@1@S@While a decline in orders for cars and civilian airplanes pulled down the orders total, an enormous jump in orders for heavy military equipment propped it up.@@@@1@27@@oe@2-2-2013
21110009@unknown@formal@none@1@S@Orders for capital defense goods skyrocketed 56%, and a government analyst said nearly all areas saw increases, including airplanes, missiles, ships, tanks and communications equipment.@@@@1@25@@oe@2-2-2013
21110010@unknown@formal@none@1@S@Orders for military goods usually catapult in September, government officials say, as the Pentagon scrambles to spend its money before the new fiscal year begins Oct. 1.@@@@1@27@@oe@2-2-2013
21110011@unknown@formal@none@1@S@While all the numbers in the durable goods report were adjusted for seasonal fluctuations, a Commerce Department analyst said that the adjustment probably didn't factor out all of the wide-ranging surge in defense orders.@@@@1@34@@oe@2-2-2013
21110012@unknown@formal@none@1@S@Without the increase in defense bookings, September orders would have plummeted 3.9%.@@@@1@12@@oe@2-2-2013
21110013@unknown@formal@none@1@S@Analysts were most unsettled by evidence the backlog of orders at factories is slipping.@@@@1@14@@oe@2-2-2013
21110014@unknown@formal@none@1@S@Unfilled orders for durable goods rose 0.4% in September, to $476.14 billion, after declining for the first time in 2 1/2 years in August.@@@@1@24@@oe@2-2-2013
21110015@unknown@formal@none@1@S@In July unfilled orders grew 1%.@@@@1@6@@oe@2-2-2013
21110016@unknown@formal@none@1@S@But analysts noted that excluding transportation-where what they believe was a temporary surge in auto demand pushed up the figures-order backlogs have declined for three months in a row.@@@@1@29@@oe@2-2-2013
21110017@unknown@formal@none@1@S@"It means we're eating into the bread that keeps us going.@@@@1@11@@oe@2-2-2013
21110018@unknown@formal@none@1@S@That is a little disturbing," Ms. Kleinman said.@@@@1@8@@oe@2-2-2013
21110019@unknown@formal@none@1@S@"It also means if you have a real drop-off in orders, production will likely fall off very quickly because there is less to keep things going."@@@@1@26@@oe@2-2-2013
21110020@unknown@formal@none@1@S@Capital goods orders outside of the defense sector tumbled for the second month in a row, posting a 5.6% drop after a 10.3% decline.@@@@1@24@@oe@2-2-2013
21110021@unknown@formal@none@1@S@Such steep drops in a category seen as a barometer of business investment would customarily be grave news for the economy.@@@@1@21@@oe@2-2-2013
21110022@unknown@formal@none@1@S@But a Commerce Department analyst said that in both months orders would have risen had it not been for a drop in civilian aircraft bookings, a category that is showing declines only after a huge surge earlier this year.@@@@1@39@@oe@2-2-2013
21110023@unknown@formal@none@1@S@Still, Milton Hudson, senior economic adviser at Morgan Guaranty Trust Co. in New York, said: "If you look back a half-year or so the evidence was pretty good of affirmative strength in the capital-goods sector.@@@@1@35@@oe@2-2-2013
21110024@unknown@formal@none@1@S@Now at least there are question marks about that, and without any question the pace of growth has slowed.@@@@1@19@@oe@2-2-2013
21111001@unknown@formal@none@1@S@Norfolk Southern Corp. directors authorized the railroad company to buy back as many as 45 million of its shares, which would have a current value of more than $1.7 billion.@@@@1@30@@oe@2-2-2013
21111002@unknown@formal@none@1@S@The buy-back, coupled with a nearly completed earlier purchase of 20 million shares, would reduce shares outstanding by more than 26%.@@@@1@21@@oe@2-2-2013
21111003@unknown@formal@none@1@S@The Norfolk, Va., company has 172.2 million shares outstanding.@@@@1@9@@oe@2-2-2013
21111004@unknown@formal@none@1@S@In a statement, Arnold B. McKinnon, chairman and chief executive officer, noted that the new repurchase program "should serve to enhance shareholder value."@@@@1@23@@oe@2-2-2013
21111005@unknown@formal@none@1@S@A spokeswoman said the company will finance the buy-back with cash on hand, borrowing and "cash Norfolk expects to generate."@@@@1@20@@oe@2-2-2013
21111006@unknown@formal@none@1@S@Analysts said they expected the action, and investors applauded the move.@@@@1@11@@oe@2-2-2013
21111007@unknown@formal@none@1@S@In composite trading on the New York Stock Exchange, Norfolk Southern shares closed at $37.875, up $1.125.@@@@1@17@@oe@2-2-2013
21111008@unknown@formal@none@1@S@Still, analysts don't expect the buy-back to significantly affect per-share earnings in the short term.@@@@1@15@@oe@2-2-2013
21111009@unknown@formal@none@1@S@"The impact won't be that great," said Graeme Lidgerwood of First Boston Corp.@@@@1@13@@oe@2-2-2013
21111010@unknown@formal@none@1@S@That is in part because of the effect of having to average the number of shares outstanding, she said.@@@@1@19@@oe@2-2-2013
21111011@unknown@formal@none@1@S@In addition, Mrs. Lidgerwood said, Norfolk is likely to draw down its cash initially to finance the purchases and thus forfeit some interest income.@@@@1@24@@oe@2-2-2013
21111012@unknown@formal@none@1@S@Longer term, however, the buy-back is expected to increase earnings, especially after 1990, Mrs. Lidgerwood said.@@@@1@16@@oe@2-2-2013
21111013@unknown@formal@none@1@S@Moreover, the extensive program in effect establishes a floor for the stock price, said Joel Price, analyst for Donaldson, Lufkin & Jenrette.@@@@1@22@@oe@2-2-2013
21111014@unknown@formal@none@1@S@The buy-back "is really a comfort to those who want to buy the stock that there is a {price} floor," he said.@@@@1@22@@oe@2-2-2013
21111015@unknown@formal@none@1@S@"At a certain price, if the management thinks {the stock} is cheap, they can go in and buy it."@@@@1@19@@oe@2-2-2013
21111016@unknown@formal@none@1@S@Under the program, Norfolk plans to acquire shares in the open market.@@@@1@12@@oe@2-2-2013
21111017@unknown@formal@none@1@S@Under the earlier plan, Norfolk was authorized in 1987 to buy up to 20 million shares.@@@@1@16@@oe@2-2-2013
21111018@unknown@formal@none@1@S@It has purchased about 19 million of them.@@@@1@8@@oe@2-2-2013
21112001@unknown@formal@none@1@S@John B. Curcio, 55 years old, resigned as chairman of this diesel truck manufacturer, effective upon appointment of a successor.@@@@1@20@@oe@2-2-2013
21112002@unknown@formal@none@1@S@Last month, Mr. Curcio was succeeded by Ralph E. Reins as chief executive officer following several quarters of lackluster or declining performance.@@@@1@22@@oe@2-2-2013
21113001@unknown@formal@none@1@S@Falcon Holding Group Inc. said it agreed to acquire about 54,000 subscribers from First Carolina Cable TV Limited Partnership for about $100 million, or roughly $2,000 a subscriber.@@@@1@28@@oe@2-2-2013
21113002@unknown@formal@none@1@S@The subscribers are in 52 different communities in Georgia, Alabama and Mississippi.@@@@1@12@@oe@2-2-2013
21113003@unknown@formal@none@1@S@Completion of the sale is expected early next year, Falcon said.@@@@1@11@@oe@2-2-2013
21113004@unknown@formal@none@1@S@Currently, Falcon has about 750,000 cable-television subscribers around the nation; the company's cable-television unit reported 1988 revenue of about $100 million.@@@@1@21@@oe@2-2-2013
21113005@unknown@formal@none@1@S@In composite trading on the American Stock Exchange, Falcon closed at $20, unchanged.@@@@1@13@@oe@2-2-2013
21114001@unknown@formal@none@1@S@Richard W. Lock, retired vice president and treasurer of Owens-Illinois Inc., was named a director of this transportation industry supplier, increasing its board to six members.@@@@1@26@@oe@2-2-2013
21115001@unknown@formal@none@1@S@USX Corp. said it delayed the proposed initial public offering of common stock of RMI Titanium Co. because of market conditions.@@@@1@21@@oe@2-2-2013
21115002@unknown@formal@none@1@S@RMI Titanium is owned jointly by USX and Quantum Chemical Corp.@@@@1@11@@oe@2-2-2013
21115003@unknown@formal@none@1@S@USX, which hadn't set a date for the offering, didn't disclose any timetable for the offering.@@@@1@16@@oe@2-2-2013
21116001@unknown@formal@none@1@S@Your Oct. 2 editorial "Reding, Wrighting & Erithmatic" on the recent "education summit" was like most pieces on the subject of education: It had little to say.@@@@1@27@@oe@2-2-2013
21116002@unknown@formal@none@1@S@Oddly, though, on the very same page you printed a comment that addresses one of the most serious shortcomings of the American education system.@@@@1@24@@oe@2-2-2013
21116003@unknown@formal@none@1@S@Unfortunately, the comment was buried in another article, so it could not stand out in an education context.@@@@1@18@@oe@2-2-2013
21116004@unknown@formal@none@1@S@In the Manager's Journal, Atsushi Kageyama, in commenting on many differences between American and Japanese culture, said, "Japanese children are raised in a way many Americans would find severe.@@@@1@29@@oe@2-2-2013
21116005@unknown@formal@none@1@S@After a wonderfully frivolous early childhood, they are exposed to rigid discipline as soon as they enter school."@@@@1@18@@oe@2-2-2013
21116006@unknown@formal@none@1@S@What far too many people concerned about education either fail to understand or choose to ignore is that American children, on the whole, are among the most undisciplined in the world, making any attempt at improvements in the mode of education potentially unsuccessful.@@@@1@43@@oe@2-2-2013
21116007@unknown@formal@none@1@S@Unless parents and educators alike start to develop more discipline in children, all the worthy concern, discussions and actions will not solve the problem.@@@@1@24@@oe@2-2-2013
21116008@unknown@formal@none@1@S@Allen B. Richards Peterborough, N.H.@@@@1@5@@oe@2-2-2013
21117001@unknown@formal@none@1@S@Retired Adm. William J. Crowe, former chairman of the Joint Chiefs of Staff, and Robert P. Luciano, chairman and chief executive officer of Schering-Plough Corp., were elected directors of this securities firm.@@@@1@32@@oe@2-2-2013
21117002@unknown@formal@none@1@S@The board expanded to 17 seats.@@@@1@6@@oe@2-2-2013
21118001@unknown@formal@none@1@S@Tuesday, October 24, 1989@@@@1@4@@oe@2-2-2013
21118002@unknown@formal@none@1@S@The key U.S. and foreign annual interest rates below are a guide to general levels but don't always represent actual transactions.@@@@1@21@@oe@2-2-2013
21118003@unknown@formal@none@1@S@PRIME RATE: 10 1/2%.@@@@1@4@@oe@2-2-2013
21118004@unknown@formal@none@1@S@The base rate on corporate loans at large U.S. money center commercial banks.@@@@1@13@@oe@2-2-2013
21118005@unknown@formal@none@1@S@FEDERAL FUNDS: 8 3/4% high, 8 5/8% low, 8 11/16% near closing bid, 8 11/16% offered.@@@@1@16@@oe@2-2-2013
21118006@unknown@formal@none@1@S@Reserves traded among commercial banks for overnight use in amounts of $1 million or more.@@@@1@15@@oe@2-2-2013
21118007@unknown@formal@none@1@S@Source: Fulton Prebon (U.S.A.) Inc.@@@@1@5@@oe@2-2-2013
21118008@unknown@formal@none@1@S@DISCOUNT RATE: 7%.@@@@1@3@@oe@2-2-2013
21118009@unknown@formal@none@1@S@The charge on loans to depository institutions by the New York Federal Reserve Bank.@@@@1@14@@oe@2-2-2013
21118010@unknown@formal@none@1@S@CALL MONEY: 9 3/4% to 10%.@@@@1@6@@oe@2-2-2013
21118011@unknown@formal@none@1@S@The charge on loans to brokers on stock exchange collateral.@@@@1@10@@oe@2-2-2013
21118012@unknown@formal@none@1@S@COMMERCIAL PAPER placed directly by General Motors Acceptance Corp.: 8.45% 30 to 44 days; 8.25% 45 to 68 days; 8.30% 69 to 89 days; 8.125% 90 to 119 days; 8% 120 to 149 days; 7.875% 150 to 179 days; 7.50% 180 to 270 days.@@@@1@44@@oe@2-2-2013
21118013@unknown@formal@none@1@S@COMMERCIAL PAPER: High-grade unsecured notes sold through dealers by major corporations in multiples of $1,000: 8.55% 30 days; 8.475% 60 days; 8.45% 90 days.@@@@1@24@@oe@2-2-2013
21118014@unknown@formal@none@1@S@CERTIFICATES OF DEPOSIT: 8.09% one month; 8.09% two months; 8.06% three months; 8% six months; 7.94% one year.@@@@1@18@@oe@2-2-2013
21118015@unknown@formal@none@1@S@Average of top rates paid by major New York banks on primary new issues of negotiable C.D.s, usually on amounts of $1 million and more.@@@@1@25@@oe@2-2-2013
21118016@unknown@formal@none@1@S@The minimum unit is $100,000.@@@@1@5@@oe@2-2-2013
21118017@unknown@formal@none@1@S@Typical rates in the secondary market: 8.55% one month; 8.50% three months; 8.35% six months.@@@@1@15@@oe@2-2-2013
21118018@unknown@formal@none@1@S@BANKERS ACCEPTANCES: 8.48% 30 days; 8.30% 60 days; 8.28% 90 days; 8.10% 120 days; 8% 150 days; 7.90% 180 days.@@@@1@20@@oe@2-2-2013
21118019@unknown@formal@none@1@S@Negotiable, bank-backed business credit instruments typically financing an import order.@@@@1@10@@oe@2-2-2013
21118020@unknown@formal@none@1@S@LONDON LATE EURODOLLARS: 8 11/16% to 8 9/16% one month; 8 5/8% to 8 1/2% two months; 8 5/8% to 8 1/2% three months; 8 9/16% to 8 7/16% four months; 8 1/2% to 8 3/8% five months; 8 7/16% to 8 5/16% six months.@@@@1@45@@oe@2-2-2013
21118021@unknown@formal@none@1@S@LONDON INTERBANK OFFERED RATES (LIBOR): 8 11/16% one month; 8 11/16% three months; 8 1/2% six months; 8 1/2% one year.@@@@1@21@@oe@2-2-2013
21118022@unknown@formal@none@1@S@The average of interbank offered rates for dollar deposits in the London market based on quotations at five major banks.@@@@1@20@@oe@2-2-2013
21118023@unknown@formal@none@1@S@FOREIGN PRIME RATES: Canada 13.50%; Germany 9%; Japan 4.875%; Switzerland 8.50%; Britain 15%.@@@@1@13@@oe@2-2-2013
21118024@unknown@formal@none@1@S@These rate indications aren't directly comparable; lending practices vary widely by location.@@@@1@12@@oe@2-2-2013
21118025@unknown@formal@none@1@S@TREASURY BILLS: Results of the Monday, October 23, 1989, auction of short-term U.S. government bills, sold at a discount from face value in units of $10,000 to $1 million: 7.52% 13 weeks; 7.50% 26 weeks.@@@@1@35@@oe@2-2-2013
21118026@unknown@formal@none@1@S@FEDERAL HOME LOAN MORTGAGE CORP. (Freddie Mac): Posted yields on 30-year mortgage commitments for delivery within 30 days.@@@@1@18@@oe@2-2-2013
21118027@unknown@formal@none@1@S@9.78%, standard conventional fixed-rate mortgages; 7.875%, 2% rate capped one-year adjustable rate mortgages.@@@@1@13@@oe@2-2-2013
21118028@unknown@formal@none@1@S@Source: Telerate Systems Inc.@@@@1@4@@oe@2-2-2013
21118029@unknown@formal@none@1@S@FEDERAL NATIONAL MORTGAGE ASSOCIATION (Fannie Mae): Posted yields on 30 year mortgage commitments for delivery within 30 days (priced at par) 9.75%, standard conventional fixed-rate mortgages; 8.70%, 6/2 rate capped one-year adjustable rate mortgages.@@@@1@34@@oe@2-2-2013
21118030@unknown@formal@none@1@S@Source: Telerate Systems Inc.@@@@1@4@@oe@2-2-2013
21118031@unknown@formal@none@1@S@MERRILL LYNCH READY ASSETS TRUST: 8.59%.@@@@1@6@@oe@2-2-2013
21118032@unknown@formal@none@1@S@Annualized average rate of return after expenses for the past 30 days; not a forecast of future returns.@@@@1@18@@oe@2-2-2013
21119001@unknown@formal@none@1@S@Roy E. Parrott, the company's president and chief operating officer since Sept. 1, was named to its board.@@@@1@18@@oe@2-2-2013
21119002@unknown@formal@none@1@S@The appointment increased the number of directors to 10, three of whom are company employees.@@@@1@15@@oe@2-2-2013
21119003@unknown@formal@none@1@S@Simpson is an auto parts maker.@@@@1@6@@oe@2-2-2013
21120001@unknown@formal@none@1@S@Japan has climbed up from the ashes of World War II and a gross national product of about $800 per capita to reach the heavyweight class among industrialized nations.@@@@1@29@@oe@2-2-2013
21120002@unknown@formal@none@1@S@Now this remarkable economic growth seems to be coming to an end because the government has not converted itself into a modern, democratic, "developed nation" mode of operation.@@@@1@28@@oe@2-2-2013
21120003@unknown@formal@none@1@S@Until 1980, when Japan joined the $10,000 per capita GNP club of the advanced countries, it was a model developing nation.@@@@1@21@@oe@2-2-2013
21120004@unknown@formal@none@1@S@The government built ports, bridges, highways, schools, hospitals and railways.@@@@1@10@@oe@2-2-2013
21120005@unknown@formal@none@1@S@When industries were weak, it protected them.@@@@1@7@@oe@2-2-2013
21120006@unknown@formal@none@1@S@It gave the Japanese people a value system, based on the rationalization that given the country's lack of natural resources, they must work hard to create value through exports and buy food with the surplus.@@@@1@35@@oe@2-2-2013
21120007@unknown@formal@none@1@S@Individual prosperity inevitably would result.@@@@1@5@@oe@2-2-2013
21120008@unknown@formal@none@1@S@That system has worked.@@@@1@4@@oe@2-2-2013
21120009@unknown@formal@none@1@S@The standard of living has increased steadily over the past 40 years; more than 90% of the people consider themselves middle class.@@@@1@22@@oe@2-2-2013
21120010@unknown@formal@none@1@S@The people have given their leading and only credible political party, the Liberal Democratic Party, clear and uninterrupted power for those 40 years.@@@@1@23@@oe@2-2-2013
21120011@unknown@formal@none@1@S@The LDP won by a landslide in the last election, in July 1986.@@@@1@13@@oe@2-2-2013
21120012@unknown@formal@none@1@S@But less than two years later, the LDP started to crumble, and dissent rose to unprecedented heights.@@@@1@17@@oe@2-2-2013
21120013@unknown@formal@none@1@S@The symptoms all point to one thing: Japan does not have a modern government.@@@@1@14@@oe@2-2-2013
21120014@unknown@formal@none@1@S@Its government still wants to sit in the driver's seat, set the speed, step on the gas, apply the brakes and steer, with 120 million people in the back seat.@@@@1@30@@oe@2-2-2013
21120015@unknown@formal@none@1@S@In a modern system, the government's role is to give the people as much choice as possible and to keep them well informed so they are capable of making a choice.@@@@1@31@@oe@2-2-2013
21120016@unknown@formal@none@1@S@It also allows people to buy the best and the cheapest goods from anywhere in the world.@@@@1@17@@oe@2-2-2013
21120017@unknown@formal@none@1@S@The Japanese government doesn't allow this.@@@@1@6@@oe@2-2-2013
21120018@unknown@formal@none@1@S@The Ministry of Agriculture and Fishery actually is a ministry for farmers and fishermen instead of a ministry of provisions.@@@@1@20@@oe@2-2-2013
21120019@unknown@formal@none@1@S@The Ministry of Health and Welfare is a ministry of doctors and pharmaceutical companies rather than an organization dedicated to protecting the health of the people.@@@@1@26@@oe@2-2-2013
21120020@unknown@formal@none@1@S@The Ministry of Education is nothing but a cartel for licensed teachers, and certainly does not act on behalf of students.@@@@1@21@@oe@2-2-2013
21120021@unknown@formal@none@1@S@The Ministry of Construction spreads concrete throughout the country and boasts in international conferences that Japan's paved roadway per capita is the longest in the world, but they seldom think of the poor commuters who spend so much time sitting in traffic.@@@@1@42@@oe@2-2-2013
21120022@unknown@formal@none@1@S@The Ministry of Transportation serves the industry, certainly not the passengers who must pay extraordinarily high prices.@@@@1@17@@oe@2-2-2013
21120023@unknown@formal@none@1@S@And the Ministry of Foreign Affairs works for itself, supporting Japanese diplomats who sprinkle abundant aid money around the world to ensure that their seat at the dinner table is next to the host's.@@@@1@34@@oe@2-2-2013
21120024@unknown@formal@none@1@S@This ministry has done nothing to correct the misunderstandings and misperceptions that are at the root of Japan's deteriorating image.@@@@1@20@@oe@2-2-2013
21120025@unknown@formal@none@1@S@Instead, it seems to be using foreign pressure and even the trade conflict to expand its sphere of influence vis a vis other ministries.@@@@1@24@@oe@2-2-2013
21120026@unknown@formal@none@1@S@All this illustrates that Japanese ministries still have a "provider" mentality; they do not serve the people, and particularly not consumers.@@@@1@21@@oe@2-2-2013
21120027@unknown@formal@none@1@S@They serve the industries and the special-interest groups.@@@@1@8@@oe@2-2-2013
21120028@unknown@formal@none@1@S@The rest of the world accepted such methods when Japan was developing.@@@@1@12@@oe@2-2-2013
21120029@unknown@formal@none@1@S@Japanese put up with it because the government provided job stability and growing paychecks.@@@@1@14@@oe@2-2-2013
21120030@unknown@formal@none@1@S@Japan is not a political country.@@@@1@6@@oe@2-2-2013
21120031@unknown@formal@none@1@S@It is a bureaucratic country.@@@@1@5@@oe@2-2-2013
21120032@unknown@formal@none@1@S@The Diet plays a minor role compared with the powerful bureaucratic system.@@@@1@12@@oe@2-2-2013
21120033@unknown@formal@none@1@S@Most bills are drafted by bureaucrats, not politicians.@@@@1@8@@oe@2-2-2013
21120034@unknown@formal@none@1@S@The Diet doesn't normally even debate bills because the opposition parties are so often opposed to whatever LDP does that it would be a waste of time.@@@@1@27@@oe@2-2-2013
21120035@unknown@formal@none@1@S@So most bills are passed without full discussion; particularly difficult bills are passed in the absence of the opposition parties.@@@@1@20@@oe@2-2-2013
21120036@unknown@formal@none@1@S@A recent example is the 3% consumption tax on all commercial activities.@@@@1@12@@oe@2-2-2013
21120037@unknown@formal@none@1@S@This makes enormous sense in Japan, where direct tax accounts for more than 70% of revenues and the capture rate of direct tax is so unfair.@@@@1@26@@oe@2-2-2013
21120038@unknown@formal@none@1@S@If you are a salaried man, Amen! 100% captured.@@@@1@9@@oe@2-2-2013
21120039@unknown@formal@none@1@S@If you are a retailer, 50%, and a farmer, 30%.@@@@1@10@@oe@2-2-2013
21120040@unknown@formal@none@1@S@To correct this inequality, most people would have favored an indirect tax, like the consumption tax.@@@@1@16@@oe@2-2-2013
21120041@unknown@formal@none@1@S@But the bill was passed without debate in the Diet, in the absence of the opposition.@@@@1@16@@oe@2-2-2013
21120042@unknown@formal@none@1@S@As a result, the Japanese people didn't know what to expect when the new law was introduced on April 1.@@@@1@20@@oe@2-2-2013
21120043@unknown@formal@none@1@S@They were frustrated by the longer queues at the cashier and the small coins given as change.@@@@1@17@@oe@2-2-2013
21120044@unknown@formal@none@1@S@All of a sudden, prices were no longer in denominations of 100 or 200.@@@@1@14@@oe@2-2-2013
21120045@unknown@formal@none@1@S@They were 103 or 206.@@@@1@5@@oe@2-2-2013
21120046@unknown@formal@none@1@S@Pockets exploded with one-yen coins.@@@@1@5@@oe@2-2-2013
21120047@unknown@formal@none@1@S@While people were jingling their change, the LDP politicians were caught in scandals.@@@@1@13@@oe@2-2-2013
21120048@unknown@formal@none@1@S@Money, such as in Recruit's political donations, and women, as in the cases of Prime Minister Sosuke Uno and Secretary General Tokuo Yamashita, seldom have caused political scandals in Japan.@@@@1@30@@oe@2-2-2013
21120049@unknown@formal@none@1@S@Whereas most men were a bit ambivalent about the sex scandals (though they were furious about Recruit), women were upset about both and surged to the polls.@@@@1@27@@oe@2-2-2013
21120050@unknown@formal@none@1@S@In the recent Upper House and Tokyo metropolitan congressional elections, in which the Socialist Party won a runaway victory, 60% of all women voted, as opposed to the usual 40%.@@@@1@30@@oe@2-2-2013
21120051@unknown@formal@none@1@S@It is difficult to analyze how much of their anger was due to Recruit, the sex scandals, or the one-yen coins in their purses, but they obviously were voting to punish the LDP.@@@@1@33@@oe@2-2-2013
21120052@unknown@formal@none@1@S@Taken by surprise, the Socialist Party is busy changing its doctrines.@@@@1@11@@oe@2-2-2013
21120053@unknown@formal@none@1@S@It's now OK to deal with the U.S., but not the Soviet Union.@@@@1@13@@oe@2-2-2013
21120054@unknown@formal@none@1@S@Nuclear power plants are acceptable.@@@@1@5@@oe@2-2-2013
21120055@unknown@formal@none@1@S@The U.S.-Japan Security Treaty can continue, sort of.@@@@1@8@@oe@2-2-2013
21120056@unknown@formal@none@1@S@And so on.@@@@1@3@@oe@2-2-2013
21120057@unknown@formal@none@1@S@Against the rapid cosmetic overhaul of the Socialist Party the LDP has been paralyzed.@@@@1@14@@oe@2-2-2013
21120058@unknown@formal@none@1@S@Now is the time to reform the government from a provider, developing-country vanguard role to that of a modern, industrialized nation in which consumers have the ultimate choice.@@@@1@28@@oe@2-2-2013
21120059@unknown@formal@none@1@S@If the LDP, as currently composed, can't make the transformation, then it should split into two parties.@@@@1@17@@oe@2-2-2013
21120060@unknown@formal@none@1@S@One party could stand for consumer interests, small government, free trade and globalism to put Japan clearly among the most developed and open countries.@@@@1@24@@oe@2-2-2013
21120061@unknown@formal@none@1@S@The other party could continue on the traditional track of the LDP, representing the manufacturers' preference for larger government, control, regulation and protectionism.@@@@1@23@@oe@2-2-2013
21120062@unknown@formal@none@1@S@The LDP must make a decision immediately; Lower House elections must take place before June.@@@@1@15@@oe@2-2-2013
21120063@unknown@formal@none@1@S@In the current mood of the Japanese people, journalists and even some industrialists, giving power to the Socialists might be good for the LDP, cleansing it of past sins.@@@@1@29@@oe@2-2-2013
21120064@unknown@formal@none@1@S@We must not forget, however, that such a humble political experiment could cause a global tidal wave of shocks in real-estate and financial markets.@@@@1@24@@oe@2-2-2013
21120065@unknown@formal@none@1@S@At the most there is only nine months before the LDP fuse burns out.@@@@1@14@@oe@2-2-2013
21120066@unknown@formal@none@1@S@Mr. Ohmae is managing director of McKinsey & Co. in Japan.@@@@1@11@@oe@2-2-2013
21121001@unknown@formal@none@1@S@Early this century, diamond mining in the magnificent dunes where the Namib Desert meets the Atlantic Ocean was a day at the beach.@@@@1@23@@oe@2-2-2013
21121002@unknown@formal@none@1@S@Men would crawl in the sand looking for shiny stones.@@@@1@10@@oe@2-2-2013
21121003@unknown@formal@none@1@S@It was as easy as collecting sea shells at Malibu.@@@@1@10@@oe@2-2-2013
21121004@unknown@formal@none@1@S@Men are still combing the beach with shovels and hand brushes, searching for that unusual glint.@@@@1@16@@oe@2-2-2013
21121005@unknown@formal@none@1@S@But only after a fleet of 336 gargantuan earthmoving vehicles belonging to De Beers Consolidated Mines Ltd., the world's diamond kingpins, do their work.@@@@1@24@@oe@2-2-2013
21121006@unknown@formal@none@1@S@Last year, 43 million tons of desert were moved from one dune to another to recover 934,242 carats, which comes to 46 tons of sand per carat, or one-fifth gram.@@@@1@30@@oe@2-2-2013
21121007@unknown@formal@none@1@S@Oh yes, the Atlantic was also pushed back 300 yards.@@@@1@10@@oe@2-2-2013
21121008@unknown@formal@none@1@S@"If there's diamonds out there, we'll get to them," says Les Johns, De Beers's engineering manager.@@@@1@16@@oe@2-2-2013
21121009@unknown@formal@none@1@S@Here, wedged between shifting dunes and pounding waves at the world's most inhospitable diamond dig, lies the earth's most precious jewel box.@@@@1@22@@oe@2-2-2013
21121010@unknown@formal@none@1@S@Thanks to centuries of polishing by Mother Nature -- first in the gentle current of the Orange River that carried the stones from South Africa's interior, then in the cold surf of the ocean, and finally in the coarse sands of the desert -- 98% of the diamonds uncovered are of gem quality.@@@@1@53@@oe@2-2-2013
21121011@unknown@formal@none@1@S@While other mines might yield more carats, a higher percentage of them go to industrial use.@@@@1@16@@oe@2-2-2013
21121012@unknown@formal@none@1@S@Since this treasure chest is too big to fit in a bank vault, it has been turned into one.@@@@1@19@@oe@2-2-2013
21121013@unknown@formal@none@1@S@Months after railway worker Zacharias Lewala first picked up a diamond from the sand in 1908, the German colonialists who controlled Namibia proclaimed a wide swath of the desert -- about 200 miles north from the Orange River and 60 miles inland from the Atlantic -- a restricted area, a designation normally reserved for military operations.@@@@1@56@@oe@2-2-2013
21121014@unknown@formal@none@1@S@When the Germans lost World War I, they lost Namibia to South Africa and the diamonds to Ernest Oppenheimer, patriarch of Anglo American Corp. and De Beers.@@@@1@27@@oe@2-2-2013
21121015@unknown@formal@none@1@S@Today, no one gets in or out of the restricted area without De Beers's stingy approval.@@@@1@16@@oe@2-2-2013
21121016@unknown@formal@none@1@S@The mining zone has thus remained one of the most desolate places in Africa.@@@@1@14@@oe@2-2-2013
21121017@unknown@formal@none@1@S@Ghost towns dot the Namib dunes, proving diamonds aren't forever.@@@@1@10@@oe@2-2-2013
21121018@unknown@formal@none@1@S@Oranjemund, the mine headquarters, is a lonely corporate oasis of 9,000 residents.@@@@1@12@@oe@2-2-2013
21121019@unknown@formal@none@1@S@Jackals roam the streets at night, and gemsbok, hardy antelope with long straight horns, wander in from the desert to drink from water sprinklers.@@@@1@24@@oe@2-2-2013
21121020@unknown@formal@none@1@S@On most days, the desert's heat and the cool of the ocean combine to create a mist like a damp rag.@@@@1@21@@oe@2-2-2013
21121021@unknown@formal@none@1@S@The wind, stinging with sand, never seems to stop.@@@@1@9@@oe@2-2-2013
21121022@unknown@formal@none@1@S@Still, miners from all parts of Namibia as well as professional staff from De Beers's head offices in South Africa and London keep coming.@@@@1@24@@oe@2-2-2013
21121023@unknown@formal@none@1@S@And Oranjemund boasts attractions besides diamonds.@@@@1@6@@oe@2-2-2013
21121024@unknown@formal@none@1@S@There are six video rental shops, three restaurants, one cinema and 34 sports and recreation clubs for everything from cricket to lawn bowling.@@@@1@23@@oe@2-2-2013
21121025@unknown@formal@none@1@S@The pride of Oranjemund is the 18-hole golf course -- with the largest sand trap in the world.@@@@1@18@@oe@2-2-2013
21121026@unknown@formal@none@1@S@Last year, when the rising Orange River threatened to swamp the course, the same engineers who are pushing back the Atlantic rushed to build a wall to hold back the flood.@@@@1@31@@oe@2-2-2013
21121027@unknown@formal@none@1@S@"Nothing is too good for our golf course," says Tony George, a mining engineer.@@@@1@14@@oe@2-2-2013
21121028@unknown@formal@none@1@S@Despite fears the mine may be partially nationalized by the new Namibian government following next month's elections freeing the country from South African control, De Beers engineers are working to extend the mine's productive life for another 25 years, from the current estimate of 10.@@@@1@45@@oe@2-2-2013
21121029@unknown@formal@none@1@S@Huge machines that look as though they came from the Star Wars desert-battle scene lumber among the dunes.@@@@1@18@@oe@2-2-2013
21121030@unknown@formal@none@1@S@Mechanized vacuum cleaners probe the sand like giant anteaters; a whirring ferris wheellike excavator, with buckets instead of seats, chews through layers of compacted sand; tracks and conveyor belts, shuttling sand to the screening plants, criss-cross the beach.@@@@1@38@@oe@2-2-2013
21121031@unknown@formal@none@1@S@Then there is the artifical sea wall, 600 yards long and 60 yards thick, jutting into the ocean.@@@@1@18@@oe@2-2-2013
21121032@unknown@formal@none@1@S@Made of sand, it receives around-the-clock maintainence against the battering waves.@@@@1@11@@oe@2-2-2013
21121033@unknown@formal@none@1@S@When the mining in front of the wall is complete, it is moved northward.@@@@1@14@@oe@2-2-2013
21121034@unknown@formal@none@1@S@A companion jetty that helps hold back the sea looks like a rusting junkyard.@@@@1@14@@oe@2-2-2013
21121035@unknown@formal@none@1@S@Engineers first used concrete blocks to bolster the barrier, but the ocean tossed them aside like driftwood.@@@@1@17@@oe@2-2-2013
21121036@unknown@formal@none@1@S@Then someone decided to try broken-down earthmoving equipment that, inexplicably, held against the waves.@@@@1@14@@oe@2-2-2013
21121037@unknown@formal@none@1@S@"The Caterpillar people aren't too happy when they see their equipment used like that," shrugs Mr. George.@@@@1@17@@oe@2-2-2013
21121038@unknown@formal@none@1@S@"They figure it's not a very good advert."@@@@1@8@@oe@2-2-2013
21121039@unknown@formal@none@1@S@Despite all these innovations, most of the diamonds are still found in the sand swept away by the men wielding shovels and brushes -- the ignominiously named "bedrock sweepers" who toil in the wake of the excavators.@@@@1@37@@oe@2-2-2013
21121040@unknown@formal@none@1@S@Laboring in blue and gray overalls, they are supposed to concentrate on cleaning out crevices, and not strain their eyes looking for diamonds.@@@@1@23@@oe@2-2-2013
21121041@unknown@formal@none@1@S@But should they spy one, the company will pay a bonus equal to one-third its value.@@@@1@16@@oe@2-2-2013
21121042@unknown@formal@none@1@S@For these workers at the bottom of the mine's pay scale, this is usually enough to overcome the temptation to steal -- a crime that could earn them up to 15 years in jail.@@@@1@34@@oe@2-2-2013
21121043@unknown@formal@none@1@S@Still, employees do occasionally try to smuggle out a gem or two.@@@@1@12@@oe@2-2-2013
21121044@unknown@formal@none@1@S@One man wrapped several diamonds in the knot of his tie.@@@@1@11@@oe@2-2-2013
21121045@unknown@formal@none@1@S@Another poked a hole in the heel of his shoe.@@@@1@10@@oe@2-2-2013
21121046@unknown@formal@none@1@S@A food caterer stashed stones in the false bottom of a milk pail.@@@@1@13@@oe@2-2-2013
21121047@unknown@formal@none@1@S@None made it past the body searches and X-rays of mine security.@@@@1@12@@oe@2-2-2013
21122001@unknown@formal@none@1@S@DISASTER STATES aren't jumping to raise taxes for relief and recovery.@@@@1@11@@oe@2-2-2013
21122002@unknown@formal@none@1@S@Not yet, anyway.@@@@1@3@@oe@2-2-2013
21122003@unknown@formal@none@1@S@Just after Hurricane Hugo battered South Carolina, some officials talked of perhaps adding a penny to the state gasoline tax or raising property taxes.@@@@1@24@@oe@2-2-2013
21122004@unknown@formal@none@1@S@Gov. Campbell responded, "They're mentioning rope when there's been a hanging in the family."@@@@1@14@@oe@2-2-2013
21122005@unknown@formal@none@1@S@A spokesman says the governor believes he can avoid increases by relying on federal aid and shifting funds in state programs.@@@@1@21@@oe@2-2-2013
21122006@unknown@formal@none@1@S@Still, Hugo's impact may revive unsuccessful proposals to give local governments authority to levy sales taxes.@@@@1@16@@oe@2-2-2013
21122007@unknown@formal@none@1@S@A spokesman for North Carolina Gov. Martin says Hugo hasn't prompted proposals for state or local increases.@@@@1@17@@oe@2-2-2013
21122008@unknown@formal@none@1@S@California, where earthquake damage may top $5 billion, plans a special legislative session.@@@@1@13@@oe@2-2-2013
21122009@unknown@formal@none@1@S@Property-tax relief is likely.@@@@1@4@@oe@2-2-2013
21122010@unknown@formal@none@1@S@Legislators are talking about temporary rises in sales or gasoline taxes, although Gov. Deukmejian says they should be a last resort.@@@@1@21@@oe@2-2-2013
21122011@unknown@formal@none@1@S@Needs aren't clear, and the state constitution makes increasing taxes and spending very difficult.@@@@1@14@@oe@2-2-2013
21122012@unknown@formal@none@1@S@But some legislators think the time may be ripe to revise the constitution.@@@@1@13@@oe@2-2-2013
21122013@unknown@formal@none@1@S@THE IRS WILL PAY if its error burdens you with bank charges.@@@@1@12@@oe@2-2-2013
21122014@unknown@formal@none@1@S@Policy statement P-5-39 sets out terms.@@@@1@6@@oe@2-2-2013
21122015@unknown@formal@none@1@S@As a result of an erroneous IRS levy on a bank account, a taxpayer may incur administrative and overdraft charges.@@@@1@20@@oe@2-2-2013
21122016@unknown@formal@none@1@S@If the IRS admits its error and the charges have been paid, it will reimburse a taxpayer who hasn't refused to give timely answers to IRS inquiries or hasn't contributed to continuing or compounding the error.@@@@1@36@@oe@2-2-2013
21122017@unknown@formal@none@1@S@The IRS recently amended the policy to cover stop-payment charges for checks lost by the IRS.@@@@1@16@@oe@2-2-2013
21122018@unknown@formal@none@1@S@If the IRS asks for and gets a replacement for a check that it concedes it lost in processing, it will reimburse the taxpayer for the stop-payment charge on the original.@@@@1@31@@oe@2-2-2013
21122019@unknown@formal@none@1@S@Reimbursement claims must be filed with the IRS district or service-center director within a year after the expense accrues.@@@@1@19@@oe@2-2-2013
21122020@unknown@formal@none@1@S@If the IRS seeks late-payment interest because of the lost check, you should request interest abatement, publisher Prentice Hall notes.@@@@1@20@@oe@2-2-2013
21122021@unknown@formal@none@1@S@JUST FIVE ACRES MORE are all we need to feel really at home, they say.@@@@1@15@@oe@2-2-2013
21122022@unknown@formal@none@1@S@A couple we'll call the Blandings spent nearly $800,000 on a 15-acre plot and main home and have an old $175,000 mortgage exempt from the new limit on mortgage-interest deductions.@@@@1@30@@oe@2-2-2013
21122023@unknown@formal@none@1@S@They plan to expand the home site by buying five adjoining acres for $200,000, borrowed against a first mortgage on the five acres and also collateralized by the 15 acres.@@@@1@30@@oe@2-2-2013
21122024@unknown@formal@none@1@S@Their debt will be well under the $1 million limit -- on borrowing to acquire, build, or improve a home -- that qualifies for mortgage-interest deductions.@@@@1@26@@oe@2-2-2013
21122025@unknown@formal@none@1@S@As you can guess, the Blandings want to deduct home-mortgage interest on the $200,000 loan.@@@@1@15@@oe@2-2-2013
21122026@unknown@formal@none@1@S@But, IRS private ruling 8940061 notes, no rule or court case bears directly on the issue of adding land to a principal residence.@@@@1@23@@oe@2-2-2013
21122027@unknown@formal@none@1@S@So the IRS has drawn a rationale from the sale of a home site split in two and sold in different years to the same buyer; a court let the seller in that old case treat this as the sale of one residence.@@@@1@43@@oe@2-2-2013
21122028@unknown@formal@none@1@S@Thus, the IRS says, the Blandings' $200,000 loan is home-acquisition debt, and interest on it is fully deductible.@@@@1@18@@oe@2-2-2013
21122029@unknown@formal@none@1@S@EARTHQUAKE VICTIMS facing imminent filing and payment deadlines will get extensions and penalty waivers like those provided for Hugo's victims; IRS Notice 89108 has details.@@@@1@25@@oe@2-2-2013
21122030@unknown@formal@none@1@S@Notice 89-107 offers added relief for hurricane-hit concerns that must file pension and benefit-plan returns.@@@@1@15@@oe@2-2-2013
21122031@unknown@formal@none@1@S@REPORTS OF PAYMENTS to independent contractors for services must be filed by businesses, but don't bet that contractors' unreported income will be detected that way.@@@@1@25@@oe@2-2-2013
21122032@unknown@formal@none@1@S@The General Accounting Office estimates that 50% of IRS audits don't spot companies that fail to file the reports.@@@@1@19@@oe@2-2-2013
21122033@unknown@formal@none@1@S@UH HUH:@@@@1@2@@oe@2-2-2013
21122034@unknown@formal@none@1@S@A claim by Peter Testa of New York that a stranger paid him $500 to go into a bank and change $44,400 in small bills into large bills "is unconvincing," the Tax Court found.@@@@1@34@@oe@2-2-2013
21122035@unknown@formal@none@1@S@It held that Testa is taxable on $44,400 of unreported income.@@@@1@11@@oe@2-2-2013
21122036@unknown@formal@none@1@S@WHY BE A MIDDLEMAN for charitable gifts? a retiree asks.@@@@1@10@@oe@2-2-2013
21122037@unknown@formal@none@1@S@A retired electrical engineer we'll call Ben works part-time as a consultant, but he doesn't want to earn so much that Social Security reduces his benefits.@@@@1@26@@oe@2-2-2013
21122038@unknown@formal@none@1@S@So he has arranged for a university foundation to set up a scholarship fund for undergraduate engineering students.@@@@1@18@@oe@2-2-2013
21122039@unknown@formal@none@1@S@He plans to tell clients to pay certain fees directly to the foundation instead of to him; he would omit those fees from income reported on his return.@@@@1@28@@oe@2-2-2013
21122040@unknown@formal@none@1@S@So he asked the IRS if the plan would work.@@@@1@10@@oe@2-2-2013
21122041@unknown@formal@none@1@S@Well, notes IRS private ruling 8934014, "a fundamental principle" is that income must be taxed to whoever earns it.@@@@1@19@@oe@2-2-2013
21122042@unknown@formal@none@1@S@The rule goes back at least as far as a 1930 Supreme Court decision, Robert Willens of Shearson Lehman Hutton says.@@@@1@21@@oe@2-2-2013
21122043@unknown@formal@none@1@S@If you assign your income to another, you still have controlled its disposition and enjoyed the fruits of your labor, even if indirectly.@@@@1@23@@oe@2-2-2013
21122044@unknown@formal@none@1@S@Ben earns any fees sent directly to charity and is taxable on them, the IRS says; of course, he also may take a charitable deduction for them.@@@@1@27@@oe@2-2-2013
21122045@unknown@formal@none@1@S@BRIEFS:@@@@1@1@@oe@2-2-2013
21122046@unknown@formal@none@1@S@Ways and Means veteran Gephardt (D., Mo.) moves to the House Budget Committee; Rep. Cardin (D., Md.) replaces him. . . .@@@@1@22@@oe@2-2-2013
21122047@unknown@formal@none@1@S@Seattle's license fees for adult peep shows vary from those for other coin-operated amusements without serving a substantial government interest and are unconstitutional, the ninth-circuit appeals court holds for Acorn Investments Inc.@@@@1@32@@oe@2-2-2013
21123001@unknown@formal@none@1@S@Blue-chip advertisers have plenty of complaints about the magazines they advertise in, ranging from inadequate consumer research to ad "clutter" and a seemingly unchecked proliferation of special interest magazines.@@@@1@29@@oe@2-2-2013
21123002@unknown@formal@none@1@S@Criticism from such big advertisers as Estee Lauder Inc., Colgate-Palmolive Co. and Seagram Co. put a damper on the euphoria at the American Magazine Conference here.@@@@1@26@@oe@2-2-2013
21123003@unknown@formal@none@1@S@The conference opened Monday with glowing reports about consumer magazines' growth in circulation and advertising revenue in the past year.@@@@1@20@@oe@2-2-2013
21123004@unknown@formal@none@1@S@"Magazines are not providing us in-depth information on circulation," said Edgar Bronfman Jr., president and chief operating officer of Seagram, in a panel discussion.@@@@1@24@@oe@2-2-2013
21123005@unknown@formal@none@1@S@"How do readers feel about the magazine?@@@@1@7@@oe@2-2-2013
21123006@unknown@formal@none@1@S@How deeply do they read it?@@@@1@6@@oe@2-2-2013
21123007@unknown@formal@none@1@S@Research doesn't tell us whether people actually do read the magazines they subscribe to."@@@@1@14@@oe@2-2-2013
21123008@unknown@formal@none@1@S@Reuben Mark, chief executive of Colgate-Palmolive, said advertisers lack detailed demographic and geographic breakdowns of magazines' audiences.@@@@1@17@@oe@2-2-2013
21123009@unknown@formal@none@1@S@"We need research that convinces us that magazines are a real value in reader's lives, that readers are really involved."@@@@1@20@@oe@2-2-2013
21123010@unknown@formal@none@1@S@The critics also lambasted the magazine industry for something executives often are very proud of: the growth in magazine titles during the 1980s.@@@@1@23@@oe@2-2-2013
21123011@unknown@formal@none@1@S@Leonard Lauder, president and chief executive officer of Estee Lauder, said consumer magazines are suffering from what he called "niche-itis,"the increasing number of magazines that target the idosyncratic interests of readers.@@@@1@31@@oe@2-2-2013
21123012@unknown@formal@none@1@S@"Niche-itis fragments our advertising dollars," said Mr. Lauder.@@@@1@8@@oe@2-2-2013
21123013@unknown@formal@none@1@S@"We are being over-magazined.@@@@1@4@@oe@2-2-2013
21123014@unknown@formal@none@1@S@We are constantly faced with deciding which partnerships {with magazines} we can keep."@@@@1@13@@oe@2-2-2013
21123015@unknown@formal@none@1@S@He added: "There's probably even a magazine for left-handed golfers . . . but the general interest magazine is something we all miss, and it should come back."@@@@1@28@@oe@2-2-2013
21123016@unknown@formal@none@1@S@Mr. Lauder also attacked what he sees as the wide imitation of Elle, a fashion magazine published by Diamandis Communications Inc., and criticized the practice of stacking ads at the front of magazines.@@@@1@33@@oe@2-2-2013
21123017@unknown@formal@none@1@S@"Readers don't want to face all those ad pages at the front of a magazine," he said.@@@@1@17@@oe@2-2-2013
21123018@unknown@formal@none@1@S@Magazine editors did not take the criticisms lying down.@@@@1@9@@oe@2-2-2013
21123019@unknown@formal@none@1@S@"We spend a fortune on research information," said Steve Burzon, publisher of Meredith Corp.'s Metropolitan Home.@@@@1@16@@oe@2-2-2013
21123020@unknown@formal@none@1@S@And Tina Brown, editor of Conde Nast Publications Inc.'s Vanity Fair, said advertisers are frequently asked to take advertising positions in the back of her magazine to relieve ad clutter.@@@@1@30@@oe@2-2-2013
21123021@unknown@formal@none@1@S@"But advertisers wouldn't think of it," she said.@@@@1@8@@oe@2-2-2013
21123022@unknown@formal@none@1@S@Bernard Leser, president of Conde Nast, added: "Our research shows we sell more of our heavier issues . . . because readers believe they are getting more for what they pay for.@@@@1@32@@oe@2-2-2013
21124001@unknown@formal@none@1@S@Wall Street securities giant Salomon Inc. posted a big, unexpected earnings gain in the third quarter, buoyed by its securities trading and investment banking activities.@@@@1@25@@oe@2-2-2013
21124002@unknown@formal@none@1@S@Salomon said net income soared to $177 million, or $1.28 a share, from $65 million, or 38 cents a share, a year earlier.@@@@1@23@@oe@2-2-2013
21124003@unknown@formal@none@1@S@Revenue more than doubled to $2.62 billion from $1.29 billion.@@@@1@10@@oe@2-2-2013
21124004@unknown@formal@none@1@S@A Salomon spokesman said its stock, bond and foreign exchange trading, as well as its investment banking operations, were mostly responsible for the earnings jump.@@@@1@25@@oe@2-2-2013
21124005@unknown@formal@none@1@S@"The earnings were fine and above expectations," said Michael W. Blumstein, an analyst at First Boston Corp.@@@@1@17@@oe@2-2-2013
21124006@unknown@formal@none@1@S@Nevertheless, Salomon's stock fell $1.125 yesterday to close at $23.25 a share in New York Stock Exchange composite trading.@@@@1@19@@oe@2-2-2013
21124007@unknown@formal@none@1@S@"I suspect October wasn't as good as the third quarter, and they'll have difficulty matching the third quarter in the fourth quarter," Mr. Blumstein said.@@@@1@25@@oe@2-2-2013
21124008@unknown@formal@none@1@S@But some analysts say Salomon has turned the corner.@@@@1@9@@oe@2-2-2013
21124009@unknown@formal@none@1@S@"I upgraded the firm to my buy list because I certainly see signs of improvement," says Lawrence Eckenfelder, an analyst at Prudential-Bache Securities.@@@@1@23@@oe@2-2-2013
21124010@unknown@formal@none@1@S@"The market has been overly harsh to them."@@@@1@8@@oe@2-2-2013
21124011@unknown@formal@none@1@S@Analysts say investors remain skittish toward Salomon because of its volatile earnings.@@@@1@12@@oe@2-2-2013
21124012@unknown@formal@none@1@S@In the first quarter, Salomon had a record loss of $28 million on revenue of $1.54 billion.@@@@1@17@@oe@2-2-2013
21124013@unknown@formal@none@1@S@But in the second quarter, Salomon posted a record $253 million net on revenue of $2.33 billion.@@@@1@17@@oe@2-2-2013
21125001@unknown@formal@none@1@S@For the real estate industry, a watchword for the 1990s will be buy, more than build.@@@@1@16@@oe@2-2-2013
21125002@unknown@formal@none@1@S@That's the word expected to be on the lips of the more than 3,000 developers, pension-fund advisers and real estate financiers slated to attend a four-day conference, beginning here today, sponsored by the Urban Land Institute.@@@@1@36@@oe@2-2-2013
21125003@unknown@formal@none@1@S@The ULI is a non-profit research and education group based in Washington, D.C., with 14,000 members nationwide.@@@@1@17@@oe@2-2-2013
21125004@unknown@formal@none@1@S@With the market overbuilt, builders are finding limited opportunities and increased risks.@@@@1@12@@oe@2-2-2013
21125005@unknown@formal@none@1@S@Developers and money managers are looking for bargains among the thousands of financially troubled properties around the country.@@@@1@18@@oe@2-2-2013
21125006@unknown@formal@none@1@S@Real estate professionals now often bill themselves as "turnaround experts" and "workout specialists."@@@@1@13@@oe@2-2-2013
21125007@unknown@formal@none@1@S@Conference attendees are expected to be buzzing about the workings of the recently formed Resolution Trust Corp., a federal agency charged with disposing of an estimated $200 billion of real estate dumped in government hands by insolvent savings and loans.@@@@1@40@@oe@2-2-2013
21125008@unknown@formal@none@1@S@Developers are also eyeing the real estate portfolios of major corporations.@@@@1@11@@oe@2-2-2013
21125009@unknown@formal@none@1@S@Some plan to pursue foreign development ventures, mostly in Europe.@@@@1@10@@oe@2-2-2013
21125010@unknown@formal@none@1@S@And other developers may shift from commercial to residential development in the U.S.@@@@1@13@@oe@2-2-2013
21125011@unknown@formal@none@1@S@"There aren't as many economically viable alternatives for real estate developers in this country as 10 years ago," says Charles Shaw, a Chicago-based real estate developer. "@@@@1@27@@oe@2-2-2013
21125012@unknown@formal@none@1@S@So developers are saying they will look into distressed properties.@@@@1@10@@oe@2-2-2013
21125013@unknown@formal@none@1@S@They'll go into someone else's pasture as long as it's greener than the one they're in now."@@@@1@17@@oe@2-2-2013
21125014@unknown@formal@none@1@S@Developers are also forming more joint ventures with pension funds and insurance companies that can finance big projects.@@@@1@18@@oe@2-2-2013
21125015@unknown@formal@none@1@S@The builders are more willing to give up some equity and rely on management and consulting fees to stay afloat in the soft market.@@@@1@24@@oe@2-2-2013
21125016@unknown@formal@none@1@S@"Developers are teaming up with institutions often acting as project managers," says Smedes York, ULI president and president of York Properties Inc., of Raleigh, N.C.@@@@1@25@@oe@2-2-2013
21125017@unknown@formal@none@1@S@"They are growing more pragmatic about their role."@@@@1@8@@oe@2-2-2013
21125018@unknown@formal@none@1@S@Real estate firms are also using their alliances with financial institutions to amass acquisition funds.@@@@1@15@@oe@2-2-2013
21125019@unknown@formal@none@1@S@"Why should you beat your brains out fighting the environmentalists, the neighborhood groups, dealing with traffic mitigation, sewers and fighting city hall, then try to convince a lender to lend you money in an overbuilt market when you can get pension fund money, buy a portfolio, sell off pieces off it and play your own game?" says Jack Rodman, managing partner of the Los Angeles office of Kenneth Leventhal Inc. a national accounting firm.@@@@1@74@@oe@2-2-2013
21125020@unknown@formal@none@1@S@But experts say that when it comes to distressed properties, finding diamonds in the rough isn't easy.@@@@1@17@@oe@2-2-2013
21125021@unknown@formal@none@1@S@The level of interest in the RTC's properties has been greater than expected, and has come from larger companies than initially anticipated, says Stan Ross, Leventhal's co-managing partner.@@@@1@28@@oe@2-2-2013
21125022@unknown@formal@none@1@S@And to succeed in the turnaround business, he says, developers may have to put in a lot of money and time.@@@@1@21@@oe@2-2-2013
21125023@unknown@formal@none@1@S@Finding pension funds and other sources willing to invest is a high priority.@@@@1@13@@oe@2-2-2013
21125024@unknown@formal@none@1@S@Quips David Shulman, director of real estate research for Salomon Brothers Inc.: "A theme of the Urban Land conference will be `take a pension fund manager to lunch.@@@@1@28@@oe@2-2-2013
21126001@unknown@formal@none@1@S@Sheraton Corp. and Pan American World Airways announced that they and two Soviet partners will construct two "world-class" hotels within a mile of Red Square in Moscow.@@@@1@27@@oe@2-2-2013
21126002@unknown@formal@none@1@S@U.S. and Soviet officials hailed the joint project as a new indication of the further thaw in U.S.-Soviet relations.@@@@1@19@@oe@2-2-2013
21126003@unknown@formal@none@1@S@"This is an outstanding example of how the East and the West can work together for their mutual benefit and progress," said Soviet Ambassador Yuri Dubinin, who hosted a signing ceremony for the venture's partners at the Soviet embassy here.@@@@1@40@@oe@2-2-2013
21126004@unknown@formal@none@1@S@Commerce Secretary Robert Mosbacher, who attended the ceremony, called the undertaking a "historic step" in the evolution of U.S.-Soviet ties.@@@@1@20@@oe@2-2-2013
21126005@unknown@formal@none@1@S@He added that it likely will have a "mulitiplier effect" in stimulating further trade between the two countries.@@@@1@18@@oe@2-2-2013
21126006@unknown@formal@none@1@S@The project will be the largest U.S.-backed joint venture to be undertaken in the Soviet Union in recent years.@@@@1@19@@oe@2-2-2013
21126007@unknown@formal@none@1@S@One of the hotels, to be called the Sheraton Moscow, will have 450 rooms and will cost an estimated $75 million to build.@@@@1@23@@oe@2-2-2013
21126008@unknown@formal@none@1@S@The six-story hotel will be on Gorky Street and initially will cater mostly to business travelers.@@@@1@16@@oe@2-2-2013
21126009@unknown@formal@none@1@S@It will have a Russian tavern, an English pub, a discotheque and Japanese and Italian restaurants, according to a Sheraton announcement.@@@@1@21@@oe@2-2-2013
21126010@unknown@formal@none@1@S@The hotel is scheduled to open in 1992.@@@@1@8@@oe@2-2-2013
21126011@unknown@formal@none@1@S@The second hotel, to be called the Budapest Hotel, is to be constructed at a site even closer to Red Square.@@@@1@21@@oe@2-2-2013
21126012@unknown@formal@none@1@S@Details about its size and cost haven't yet been determined.@@@@1@10@@oe@2-2-2013
21126013@unknown@formal@none@1@S@Sheraton, a subsidiary of ITT Corp., will have a 40% share in the two hotels; Pan American, a subsidiary of Pan Am Corp., will have a 10% share.@@@@1@28@@oe@2-2-2013
21126014@unknown@formal@none@1@S@The Soviet owners will be Mossoviet, Moscow's city governing body, and Aeroflot, the Soviet national airline.@@@@1@16@@oe@2-2-2013
21126015@unknown@formal@none@1@S@Although a Finnish group has a minority interest in an already operating Moscow hotel, the Sheraton-Pan Am venture will be the first joint-venture hotels in the Soviet Union to have as much as 50% foreign ownership.@@@@1@36@@oe@2-2-2013
21126016@unknown@formal@none@1@S@U.S. companies account for less than 8% of the 1,000 or more Soviet joint ventures that have been announced since the Soviets began encouraging such undertakings in 1987.@@@@1@28@@oe@2-2-2013
21126017@unknown@formal@none@1@S@But some U.S. companies are negotiating projects that could be among the biggest ones to be launched.@@@@1@17@@oe@2-2-2013
21126018@unknown@formal@none@1@S@Chevron Corp., Amoco Corp., Archer-Daniels-Midland Co., and Eastman Kodak Co. are among the U.S. companies known to be considering such ventures.@@@@1@21@@oe@2-2-2013
21126019@unknown@formal@none@1@S@Sheraton and Pan Am said they are assured under the Soviet joint-venture law that they can repatriate profits from their hotel venture.@@@@1@22@@oe@2-2-2013