21160007@unknown@formal@none@1@S@Willie Brown, speaker of California's Assembly, said that Gov. George Deukmejian has agreed to schedule a special session of the legislature within two weeks.@@@@1@24@@oe@2-2-2013
21160008@unknown@formal@none@1@S@California's so-called Gann limit effectively prevents the state from spending new tax money and so drastically limits its options in an emergency.@@@@1@22@@oe@2-2-2013
21160009@unknown@formal@none@1@S@Both Mr. Brown, the state's most influential legislator, and Gov. Deukmejian favor a temporary sales tax increase -- should more money be needed than the state can raise from existing sources and the federal government.@@@@1@35@@oe@2-2-2013
21160010@unknown@formal@none@1@S@According to a spokesman, the governor is also studying the possibility of raising state gasoline taxes.@@@@1@16@@oe@2-2-2013
21160011@unknown@formal@none@1@S@Mr. Brown, meanwhile, believes "only one tax will be feasible, and it will be a one-penny sales tax increase," said Chuck Dalldorf, an aide.@@@@1@24@@oe@2-2-2013
21160012@unknown@formal@none@1@S@One immediate source of money is an emergency fund set up by Gov. Deukmejian.@@@@1@14@@oe@2-2-2013
21160013@unknown@formal@none@1@S@The fund has about $1 billion and is set up to handle "precisely the kind of emergency" the state faces, said Tom Beermann, the Governor's deputy press secretary.@@@@1@28@@oe@2-2-2013
21160014@unknown@formal@none@1@S@But the fund's size is disputed by Mr. Brown's office, which estimates the fund holds from $630 million to $800 million.@@@@1@21@@oe@2-2-2013
21160015@unknown@formal@none@1@S@Moreover, an aide to Mr. Brown said Gov. Deukmejian "has expressed a desire not to spend all the reserve on this."@@@@1@21@@oe@2-2-2013
21160016@unknown@formal@none@1@S@To push through a sales tax increase, however, the state will have to suspend the Gann limit, citing an emergency.@@@@1@20@@oe@2-2-2013
21160017@unknown@formal@none@1@S@And then it will be required to lower taxes by a corresponding amount during a three-year period after the temporary tax increase ends, said Cindy Katz, assistant director of the state department of finance.@@@@1@34@@oe@2-2-2013
21160018@unknown@formal@none@1@S@A sales tax increase would require two-thirds approval in both houses of the state's legislature.@@@@1@15@@oe@2-2-2013
21160019@unknown@formal@none@1@S@But observers expect broad support.@@@@1@5@@oe@2-2-2013
21160020@unknown@formal@none@1@S@"If there's an emergency and there aren't sufficient funds from elsewhere, I think the attitude will be supportive," said Kirk West, president of the California Chamber of Commerce.@@@@1@28@@oe@2-2-2013
21160021@unknown@formal@none@1@S@But others think property owners ought to pay a higher portion of the state's earthquake relief tab.@@@@1@17@@oe@2-2-2013
21160022@unknown@formal@none@1@S@Since the late 1970s, California property owners have benefited from a tax rollback as a result of a state ballot initiative known as Proposition 13.@@@@1@25@@oe@2-2-2013
21160023@unknown@formal@none@1@S@The state could also increase gasoline taxes; every one penny increase in the tax would yield $11 million a month.@@@@1@20@@oe@2-2-2013
21160024@unknown@formal@none@1@S@But Gov. Deukmejian and others are reluctant to do anything to harm the state's chances of sharply raising gasoline taxes on a permanent basis.@@@@1@24@@oe@2-2-2013
21160025@unknown@formal@none@1@S@To raise more highway funds, a measure to double the state's nine-cent a gallon tax over five years is set to appear on the state's June election ballot.@@@@1@28@@oe@2-2-2013
21160026@unknown@formal@none@1@S@But some fear imposing a temporary gasoline tax increase in the meantime could undercut support among voters for the measure.@@@@1@20@@oe@2-2-2013
21160027@unknown@formal@none@1@S@Not everyone is convinced the state must raise new revenue to meet its earthquake needs.@@@@1@15@@oe@2-2-2013
21160028@unknown@formal@none@1@S@"It's possible, though not probable," that the state could get by with its existing resources and federal help, said Quentin Kopp, chairman of the state senate's transportation committee.@@@@1@28@@oe@2-2-2013
21160029@unknown@formal@none@1@S@Separately, two men injured in last week's earthquake-triggered freeway collapse in Oakland began a legal battle against the state over whether officials adequately heeded warnings about the structure's safety.@@@@1@29@@oe@2-2-2013
21160030@unknown@formal@none@1@S@The claims, which were filed with the State Board of Control but will probably end up in court, are the first arising out of the collapse of the so-called Cypress structure viaduct.@@@@1@32@@oe@2-2-2013
21160031@unknown@formal@none@1@S@The men can defeat immunities that states often assert in court by showing that officials knew or should have known that design of the structure was defective and that they failed to make reasonable changes.@@@@1@35@@oe@2-2-2013
21160032@unknown@formal@none@1@S@A Board of Control spokesman said the board had not seen the claim and declined to comment.@@@@1@17@@oe@2-2-2013
21161001@unknown@formal@none@1@S@The following were among yesterday's offerings and pricings in the U.S. and non-U.S. capital markets, with terms and syndicate manager, as compiled by Dow Jones Capital Markets Report:@@@@1@28@@oe@2-2-2013
21161002@unknown@formal@none@1@S@Exxon Capital Corp. -- $200 million of 8 1/4% notes due Nov. 1, 1999, priced at 99.60 to yield 8.31%.@@@@1@20@@oe@2-2-2013
21161003@unknown@formal@none@1@S@The notes, which are noncallable, were priced at a spread of 45 basis points above the Treasury's 10-year note.@@@@1@19@@oe@2-2-2013
21161004@unknown@formal@none@1@S@Rated triple-A by both Moody's Investors Service Inc. and Standard & Poor's Corp., the issue will be sold through Salomon Brothers Inc.@@@@1@22@@oe@2-2-2013
21161005@unknown@formal@none@1@S@Citicorp -- $200 million of 8 3/4% notes due Nov. 1, 1996, priced at 99.64 to yield 8.82%.@@@@1@18@@oe@2-2-2013
21161006@unknown@formal@none@1@S@The noncallable issue was priced at a spread of 98 basis points above the Treasury's seven-year note.@@@@1@17@@oe@2-2-2013
21161007@unknown@formal@none@1@S@Rated single-A-1 by Moody's and double-A by S&P, the issue will be sold through Salomon Brothers.@@@@1@16@@oe@2-2-2013
21161008@unknown@formal@none@1@S@Boatmen's Bancshares Inc. -- $150 million of 9 1/4% subordinated notes due Nov. 1, 2001, priced at 99.821 to yield 9.275%.@@@@1@21@@oe@2-2-2013
21161009@unknown@formal@none@1@S@The noncallable issue was priced at a spread of 140 basis points above the Treasury's 10-year note.@@@@1@17@@oe@2-2-2013
21161010@unknown@formal@none@1@S@Rated single-A-3 by Moody's and single-A-minus by S&P, the issue will be sold through underwriters led by Morgan Stanley & Co.@@@@1@21@@oe@2-2-2013
21161011@unknown@formal@none@1@S@Xerox Corp. -- $150 million of 8 3/4% notes due Nov. 1, 1995, priced at 99.555 to yield 8.85%.@@@@1@19@@oe@2-2-2013
21161012@unknown@formal@none@1@S@The noncallable issue was priced to yield 105 basis points above the Treasury's fiveyear note.@@@@1@15@@oe@2-2-2013
21161013@unknown@formal@none@1@S@Rated single-A-2 by Moody's and single-A-plus by S&P, the issue will be sold through underwriters led by Salomon Brothers.@@@@1@19@@oe@2-2-2013
21161014@unknown@formal@none@1@S@American General Finance Corp. -- $150 million of 8.45% notes due Oct. 15, 2009, through Bear, Stearns & Co., being offered at a price of 99.661 to yield 8.50%.@@@@1@29@@oe@2-2-2013
21161015@unknown@formal@none@1@S@The noncallable issue, which has a one-time put Oct. 15, 1999, was priced at a spread of 66 basis points above the Treasury's 10-year note.@@@@1@25@@oe@2-2-2013
21161016@unknown@formal@none@1@S@The issue is rated single-A-1 by Moody's and single-A-plus by S&P.@@@@1@11@@oe@2-2-2013
21161017@unknown@formal@none@1@S@Baltimore Gas & Electric Co. -- $100 million of first and refunding mortgage bonds, due Oct. 15, 1999, through Shearson Lehman Hutton Inc., offered at par to yield 8.40%.@@@@1@29@@oe@2-2-2013
21161018@unknown@formal@none@1@S@The noncallable issue is rated double-A-3 by Moody's and double-A-minus by S&P.@@@@1@12@@oe@2-2-2013
21161019@unknown@formal@none@1@S@It was priced at a spread of 55 basis points above the Treasury's 10-year note.@@@@1@15@@oe@2-2-2013
21161020@unknown@formal@none@1@S@Massachusetts -- $230 million of general obligation bonds, consolidated loan of 1989, Series D, due 1990-2009, through a Goldman, Sachs & Co. group.@@@@1@23@@oe@2-2-2013
21161021@unknown@formal@none@1@S@The insured bonds, rated triple-A by Moody's and S&P, were priced to yield from 6.00% in 1990 to 7.20% in 2009.@@@@1@21@@oe@2-2-2013
21161022@unknown@formal@none@1@S@Broward County School District, Fla. -- $185 million of school district general obligation bonds, Series 1989, due 1991-1999 and 2008, tentatively priced by a First Boston Corp. group to yield from 6.20% in 1991 to 7.30% in 2008.@@@@1@38@@oe@2-2-2013
21161023@unknown@formal@none@1@S@There are $120.7 million of 7 1/8% term bonds due 2008, priced to yield 7.30%.@@@@1@15@@oe@2-2-2013
21161024@unknown@formal@none@1@S@Serial bonds are priced to yield to 7% in 1999.@@@@1@10@@oe@2-2-2013
21161025@unknown@formal@none@1@S@The bonds are rated single-A-1 by Moody's and double-A-minus by S&P.@@@@1@11@@oe@2-2-2013
21161026@unknown@formal@none@1@S@Culver City Redevelopment Financing Authority, Calif. -- $145 million of revenue bonds, Series 1989, tentatively priced by a Stone & Youngberg group.@@@@1@22@@oe@2-2-2013
21161027@unknown@formal@none@1@S@The issue includes $100 million of insured senior lien bonds.@@@@1@10@@oe@2-2-2013
21161028@unknown@formal@none@1@S@These consist of current interest bonds due 1990-2002, 2010 and 2015, and capital appreciation bonds due 2003 and 2004, tentatively priced to yield from 5.75% in 1990 to 7.14% in 2010.@@@@1@31@@oe@2-2-2013
21161029@unknown@formal@none@1@S@Bonds due 2003, 2004 and 2015 aren't being formally reoffered.@@@@1@10@@oe@2-2-2013
21161030@unknown@formal@none@1@S@There are also $40 million of uninsured subordinate lien bonds, due Dec. 1, 2008, and Dec. 1, 2015.@@@@1@18@@oe@2-2-2013
21161031@unknown@formal@none@1@S@There are $15,015,000 of 7 1/2% bonds priced at par and due 2008 and $24,985,000 of 7.6% bonds priced at par and due 2015.@@@@1@24@@oe@2-2-2013
21161032@unknown@formal@none@1@S@The insured bonds are rated triple-A by Moody's and S&P.@@@@1@10@@oe@2-2-2013
21161033@unknown@formal@none@1@S@The uninsured subordinate lien bonds aren't rated, according to the lead underwriter.@@@@1@12@@oe@2-2-2013
21161034@unknown@formal@none@1@S@West Virginia Parkways, Economic Development and Tourism Authority -- $143 million of parkway revenue bonds, Series 1989, with current interest bonds due 1990-2002 and 2019 and capital appreciation bonds due 2003-2008, tentatively priced by a PaineWebber Inc. group to yield from 6% in 1990 to 7.31% in 2019.@@@@1@48@@oe@2-2-2013
21161035@unknown@formal@none@1@S@There are $86,525,000 of 7 1/8% bonds priced at 97 3/4 to yield 7.31% in 2019.@@@@1@16@@oe@2-2-2013
21161036@unknown@formal@none@1@S@Current interest serial bonds are tentatively priced to yield to 7.05% in 2002.@@@@1@13@@oe@2-2-2013
21161037@unknown@formal@none@1@S@Capital appreciation bonds are priced to yield to maturity from 7.10% in 2003 to 7.25% in 2007 and 2008.@@@@1@19@@oe@2-2-2013
21161038@unknown@formal@none@1@S@The bonds are insured and rated triple-A by Moody's and S&P.@@@@1@11@@oe@2-2-2013
21161039@unknown@formal@none@1@S@Connecticut Housing Finance Authority -- $132.8 million of housing mortgage revenue bonds priced by a PaineWebber Inc. group.@@@@1@18@@oe@2-2-2013
21161040@unknown@formal@none@1@S@The $82.8 million of Series B bonds, which aren't subject to the alternative minimum tax, were priced at par to yield from 6.85% in 2000 to 7.20% in 2009.@@@@1@29@@oe@2-2-2013
21161041@unknown@formal@none@1@S@Meanwhile, the $50 million of Series C bonds, which are suject to the alternative minimum tax, were priced at par to yield from 6.25% in 1990 to 7.10% to 2000.@@@@1@30@@oe@2-2-2013
21161042@unknown@formal@none@1@S@The issue is expected to receive a double-A rating from Moody's, the underwriter said.@@@@1@14@@oe@2-2-2013
21161043@unknown@formal@none@1@S@An S&P rating of double-A-plus has already been confirmed.@@@@1@9@@oe@2-2-2013
21161044@unknown@formal@none@1@S@Montgomery County, Md. -- $75 million of general obligation, Series B, consolidated public improvement bonds of 1989, through a Manufacturers Hanover Trust Co. group.@@@@1@24@@oe@2-2-2013
21161045@unknown@formal@none@1@S@The bonds, rated triple-A by Moody's and S&P, were priced to yield from 5.75% in 1990 to 6.90% in 2006 to 2009.@@@@1@22@@oe@2-2-2013
21161046@unknown@formal@none@1@S@Federal Home Loan Mortgage Corp. -- $500 million of Remic mortgage securities being offered by Prudential-Bache Capital Funding Inc.@@@@1@19@@oe@2-2-2013
21161047@unknown@formal@none@1@S@There were no details available on the pricing of the issue, Freddie Mac's Series 108.@@@@1@15@@oe@2-2-2013
21161048@unknown@formal@none@1@S@The issue is backed by Freddie Mac 8 1/2% securities.@@@@1@10@@oe@2-2-2013
21161049@unknown@formal@none@1@S@Hanwa Co. (Japan) -- Two-part, $800 million issue of bonds due Nov. 9, 1994, with equity-purchase warrants, indicating a 4 3/8% coupon at par.@@@@1@24@@oe@2-2-2013
21161050@unknown@formal@none@1@S@European portion of $700 million via Yamaichi International Europe Ltd.@@@@1@10@@oe@2-2-2013
21161051@unknown@formal@none@1@S@Asian portion of $100 million via Yamatane Securities Europe Ltd.@@@@1@10@@oe@2-2-2013
21161052@unknown@formal@none@1@S@Each $5,000 bond carries one warrant, exercisable from Nov. 28, 1989, through Oct. 26, 1994, to buy shares at an expected premium of 2 1/2% to the closing share price when terms are fixed Oct. 26.@@@@1@36@@oe@2-2-2013
21161053@unknown@formal@none@1@S@Japan Storage Battery Co. -- $100 million of bonds due Nov. 9, 1993, with equity-purchase warrants, indicating a 3 7/8% coupon at par via Nikko Securities Co. (Europe) Ltd.@@@@1@29@@oe@2-2-2013
21161054@unknown@formal@none@1@S@Guaranteed by Mitsubishi Bank Ltd.@@@@1@5@@oe@2-2-2013
21161055@unknown@formal@none@1@S@Each $5,000 bond carries one warrant, exercisable from Nov. 27, 1989, through Oct. 26, 1993, to buy shares at an expected premium of 2 1/2% to the closing share price when terms are fixed Nov. 1.@@@@1@36@@oe@2-2-2013
21161056@unknown@formal@none@1@S@Sanraku Inc. (Japan) -- $100 million of bonds due Nov. 9, 1993, with equity-purchase warrants, indicating a 3 7/8% coupon at par, via Nomura International.@@@@1@25@@oe@2-2-2013
21161057@unknown@formal@none@1@S@Guaranteed by Dai-Ichi Kangyo Bank Ltd.@@@@1@6@@oe@2-2-2013
21161058@unknown@formal@none@1@S@Each $5,000 bond carries one warrant, exercisable from Nov. 21, 1989, through Oct. 19, 1993, to buy shares at an expected premium of 2 1/2% to the closing share price when terms are fixed Oct. 31.@@@@1@36@@oe@2-2-2013
21161059@unknown@formal@none@1@S@Nippon Signal Co. (Japan) -- 80 million marks of bonds with equity-purchase warrants, indicating a 1 1/2% coupon, due Nov. 9, 1994, and priced at par, via Commerzbank.@@@@1@28@@oe@2-2-2013
21161060@unknown@formal@none@1@S@Guaranteed by Fuji Bank.@@@@1@4@@oe@2-2-2013
21161061@unknown@formal@none@1@S@Each 5,000 mark bond carries one warrant and one certificate for four warrants, exercisable from Dec. 18, 1989, to Oct. 26, 1994, to buy shares at an expected premium of 2 1/2% above the closing share price when prices are fixed Oct. 30.@@@@1@43@@oe@2-2-2013
21161062@unknown@formal@none@1@S@Miyoshi Oil & Fat Co. (Japan) -- 120 million Swiss francs of privately placed convertible notes due Dec. 31, 1993, with a fixed 0.25% coupon at par, via Union Bank of Switzerland.@@@@1@32@@oe@2-2-2013
21161063@unknown@formal@none@1@S@Put option on Dec. 31, 1991, at a fixed 107 to yield 3.43%.@@@@1@13@@oe@2-2-2013
21161064@unknown@formal@none@1@S@Each 50,000 Swiss franc bond convertible from Nov. 28, 1989, to Dec. 20, 1993, at a 5% premium over closing share price Oct. 30, when terms are scheduled to be fixed.@@@@1@31@@oe@2-2-2013
21161065@unknown@formal@none@1@S@Fokker N.V. (Netherlands) -- 150 million Swiss francs of convertible bonds due Nov. 15, 1997, with a fixed 4% coupon at par via Union Bank of Switzerland.@@@@1@27@@oe@2-2-2013
21161066@unknown@formal@none@1@S@Each 5,000 Swiss franc bond convertible from Jan. 3, 1989, to Oct. 31, 1997.@@@@1@14@@oe@2-2-2013
21161067@unknown@formal@none@1@S@Fees 2 1/8.@@@@1@3@@oe@2-2-2013
21161068@unknown@formal@none@1@S@Sapporo Lion Ltd. (Japan) -- 50 million Swiss francs of privately placed convertible notes due Dec. 31, 1994, with a 0.25% coupon at par, via Yamaichi Bank (Switzerland).@@@@1@28@@oe@2-2-2013
21161069@unknown@formal@none@1@S@Put option on Dec. 31, 1991, at an indicated 107 7/8 to yield 3.84%.@@@@1@14@@oe@2-2-2013
21161070@unknown@formal@none@1@S@Each 50,000 Swiss franc note convertible from Dec. 1, 1989, to Dec. 16, 1994, at 5% premium over the closing share price Oct. 26, when terms are scheduled to be fixed.@@@@1@31@@oe@2-2-2013
21161071@unknown@formal@none@1@S@Credit Local de France -- 100 million Swiss francs of 6%, privately placed notes due Dec. 1, 1996, priced at 100 1/2 to yield 5.91%, via Swiss Bank Corp.@@@@1@29@@oe@2-2-2013
21162001@unknown@formal@none@1@S@People start their own businesses for many reasons.@@@@1@8@@oe@2-2-2013
21162002@unknown@formal@none@1@S@But a chance to fill out sales-tax records is rarely one of them.@@@@1@13@@oe@2-2-2013
21162003@unknown@formal@none@1@S@Red tape is the bugaboo of small business.@@@@1@8@@oe@2-2-2013
21162004@unknown@formal@none@1@S@Ironically, the person who wants to run his or her own business is probably the active, results-oriented sort most likely to hate meeting the rules and record-keeping demands of federal, state and local regulators.@@@@1@34@@oe@2-2-2013
21162005@unknown@formal@none@1@S@Yet every business owner has to face the mound of forms and regulations -- and often is the only one available to tackle it.@@@@1@24@@oe@2-2-2013
21162006@unknown@formal@none@1@S@There is hope of change.@@@@1@5@@oe@2-2-2013
21162007@unknown@formal@none@1@S@Last week, Sen. Malcolm Wallop (R., Wyo.) held hearings on a bill to strengthen an existing law designed to reduce regulatory hassles for small businesses.@@@@1@25@@oe@2-2-2013
21162008@unknown@formal@none@1@S@"A great many federal regulations are meant for larger entities and don't really apply to small businesses," says Marian Jacob, a legislative aide to Sen. Wallop.@@@@1@26@@oe@2-2-2013
21162009@unknown@formal@none@1@S@Other lawmakers are busy trying to revive the recently lapsed Paperwork Reduction Act, which many feel benefited small enterprises.@@@@1@19@@oe@2-2-2013
21162010@unknown@formal@none@1@S@Thus, optimistic entrepreneurs await a promised land of less red tape -- just as soon as Uncle Sam gets around to arranging it.@@@@1@23@@oe@2-2-2013
21162011@unknown@formal@none@1@S@Meanwhile, they tackle the mounds of paper -- and fantasize about a dream world where bulk-mail postal regulations and government inspectors are banished.@@@@1@23@@oe@2-2-2013
21162012@unknown@formal@none@1@S@To find out what red tape riles entrepreneurs most, the Journal asked a completely unscientific, random sample of business owners to fantasize about the forms and regulations they would most like to get lost in the mail.@@@@1@37@@oe@2-2-2013
21162013@unknown@formal@none@1@S@Some entrepreneurs say the red tape they most love to hate is red tape they would also hate to lose.@@@@1@20@@oe@2-2-2013
21162014@unknown@formal@none@1@S@They concede that much of the government meddling that torments them is essential to the public good, and even to their own businesses.@@@@1@23@@oe@2-2-2013
21162015@unknown@formal@none@1@S@Rules that set standards for products or govern business behavior, generally the best regarded form of red tape, "create a level playing field and keep unscrupulous competitors away," says Sidney West, president of TechDesign International Inc., a Springfield, Va., business that designs telecommunication and other products.@@@@1@46@@oe@2-2-2013
21162016@unknown@formal@none@1@S@Mr. West cites the Federal Communications Commission and its standards for telecommunications equipment: "They monitor product quality and prevent junk from flooding the market."@@@@1@24@@oe@2-2-2013
21162017@unknown@formal@none@1@S@Some gripes about red tape are predictable: Architects complain about a host of building regulations, auto leasing companies about car insurance rules.@@@@1@22@@oe@2-2-2013
21162018@unknown@formal@none@1@S@Determining when handicapped access is required can be a nightmare for architects, says Mark Dooling, president of Dooling & Co., a Newton, Mass., architectural firm.@@@@1@25@@oe@2-2-2013
21162019@unknown@formal@none@1@S@There is such a maze of federal, state and local codes that "building inspectors are backing away from interpreting them," Mr. Dooling says.@@@@1@23@@oe@2-2-2013
21162020@unknown@formal@none@1@S@Taxi, leasing and other companies that maintain fleets of vehicles devote substantial resources to complying with state insurance laws and a host of agencies.@@@@1@24@@oe@2-2-2013
21162021@unknown@formal@none@1@S@"It's very costly and time-consuming," says Phil Rosen, a partner in Fleet & Leasing Management Inc., a Boston car-leasing company.@@@@1@20@@oe@2-2-2013
21162022@unknown@formal@none@1@S@One senior executive at his firm spends nearly 20% of his time on insurance, he says.@@@@1@16@@oe@2-2-2013
21162023@unknown@formal@none@1@S@Other forms of red tape are more pervasive.@@@@1@8@@oe@2-2-2013
21162024@unknown@formal@none@1@S@The most onerous, many entrepreneurs say, is the record-keeping and filing required by tax authorities.@@@@1@15@@oe@2-2-2013
21162025@unknown@formal@none@1@S@Complying with environmental and workplace regulations runs a close second.@@@@1@10@@oe@2-2-2013
21162026@unknown@formal@none@1@S@But gripes run the gamut.@@@@1@5@@oe@2-2-2013
21162027@unknown@formal@none@1@S@Here is the red tape that irks surveyed business owners the most:@@@@1@12@@oe@2-2-2013
21162028@unknown@formal@none@1@S@ENVIRONMENTAL REGULATIONS:@@@@1@2@@oe@2-2-2013
21162029@unknown@formal@none@1@S@Next to medical insurance, "costs of compliance" are the fastest-growing expense at Impco Inc., a Providence, R.I., chemical company.@@@@1@19@@oe@2-2-2013
21162030@unknown@formal@none@1@S@Peter Gebhard, the company's owner, says spending on regulatory paper work and the people to do it -- mostly to comply with federal, state and local environmental laws -- will rise almost 30% this year to $100,000.@@@@1@37@@oe@2-2-2013
21162031@unknown@formal@none@1@S@Mr. Gebhard adds that spending on environmental red tape amounts to between 6.5% and 7.5% of Impco's total operating expenses.@@@@1@20@@oe@2-2-2013
21162032@unknown@formal@none@1@S@Eastern Reproduction Corp., a Waltham, Mass., maker of thin metal precision parts, must report to five federal and state agencies as well as to local fire, police, hospital and plumbing authorities, says Robert Maguire, president.@@@@1@35@@oe@2-2-2013
21162033@unknown@formal@none@1@S@One state environmental regulator returned a report because "it wasn't heavy enough, it couldn't have been correct," Mr. Maguire says.@@@@1@20@@oe@2-2-2013
21162034@unknown@formal@none@1@S@WITHHOLDING RULES:@@@@1@2@@oe@2-2-2013
21162035@unknown@formal@none@1@S@Employers must deposit withholding taxes exceeding $3,000 within three days after payroll -- or pay stiff penalties -- and that's a big problem for small businesses.@@@@1@26@@oe@2-2-2013
21162036@unknown@formal@none@1@S@It's especially nettlesome "if you're on the road and you're the one responsible," says Eddie Brown, president of Brown Capital Management Inc., a Baltimore money-management firm.@@@@1@26@@oe@2-2-2013
21162037@unknown@formal@none@1@S@EMPLOYEE MANUALS:@@@@1@2@@oe@2-2-2013
21162038@unknown@formal@none@1@S@Revising employee manuals on pensions, health care and other subjects costs over $25,000 a year for Bert Giguiere, president of Professional Agricultural Management Inc., a Fresno, Calif., provider of business services to farmers.@@@@1@33@@oe@2-2-2013
21162039@unknown@formal@none@1@S@An employer leaves itself open to a great deal of liability if its employee manuals don't reflect the most recent laws, he says.@@@@1@23@@oe@2-2-2013
21162040@unknown@formal@none@1@S@But the ever-changing laws are usually so complicated and confusing that "you need professionals to help you; you can't do it yourself," he adds.@@@@1@24@@oe@2-2-2013
21162041@unknown@formal@none@1@S@PENSION AND PROFIT-SHARING RULES:@@@@1@4@@oe@2-2-2013
21162042@unknown@formal@none@1@S@Complying with these is enough to make business owners look forward to their own pension days.@@@@1@16@@oe@2-2-2013
21162043@unknown@formal@none@1@S@Yearly changes in federal benefit laws force small businesses to repeatedly re-evaluate and redesign existing plans.@@@@1@16@@oe@2-2-2013
21162044@unknown@formal@none@1@S@Alice Fixx, who runs her own public-relations concern in New York, says she has had to overhaul her pension and profit-sharing plans three times in the past three years.@@@@1@29@@oe@2-2-2013
21162045@unknown@formal@none@1@S@"It doesn't increase benefits, but it's costly and time-consuming," Ms. Fixx says.@@@@1@12@@oe@2-2-2013
21162046@unknown@formal@none@1@S@Compliance added 15% to 20% to her accounting bill last year, she says.@@@@1@13@@oe@2-2-2013
21162047@unknown@formal@none@1@S@SALES TAX RECORDS:@@@@1@3@@oe@2-2-2013
21162048@unknown@formal@none@1@S@Advertising agencies and other service companies are exempt from city and state sales tax in most locales -- but the exemption comes at a price of exhaustive records and rigorous reviews.@@@@1@31@@oe@2-2-2013
21162049@unknown@formal@none@1@S@To justify their exempt status and avoid penalties, these businesses must show once a year that each and every transaction on which they didn't pay sales tax was a legitimate business expense.@@@@1@32@@oe@2-2-2013
21162050@unknown@formal@none@1@S@"You need one person to just take care of sales tax," says Jennie Tong, executive vice president of Lee Liu & Tong Advertising Inc., New York.@@@@1@26@@oe@2-2-2013
21163001@unknown@formal@none@1@S@When the Trinity Repertory Theater named Anne Bogart its artistic director last spring, the nation's theatrical cognoscenti arched a collective eyebrow.@@@@1@21@@oe@2-2-2013
21163002@unknown@formal@none@1@S@Ms. Bogart, an acclaimed creator of deconstructed dramatic collages that tear into such sacred texts as Rodgers and Hammerstein's "South Pacific," is decidedly downtown.@@@@1@24@@oe@2-2-2013
21163003@unknown@formal@none@1@S@Trinity Rep meanwhile is one of the nation's oldest and most respected regional theaters, still hosting an annual "A Christmas Carol."@@@@1@21@@oe@2-2-2013
21163004@unknown@formal@none@1@S@How would this bastion of traditional values fare in Ms. Bogart's iconoclastic hands?@@@@1@13@@oe@2-2-2013
21163005@unknown@formal@none@1@S@She held her fire with her first production at the Trinity earlier this season.@@@@1@14@@oe@2-2-2013
21163006@unknown@formal@none@1@S@It was a predictable revival of her prize-winning off-Broadway anthology of Bertolt Brecht's theoretical writings, called "No Plays, No Poetry."@@@@1@20@@oe@2-2-2013
21163007@unknown@formal@none@1@S@Now, with the opening of Maxim Gorky's bourgeois-bashing "Summerfolk," Ms. Bogart has laid her cards on the table.@@@@1@18@@oe@2-2-2013
21163008@unknown@formal@none@1@S@Hers is a hand that will test the mettle of her audiences.@@@@1@12@@oe@2-2-2013
21163009@unknown@formal@none@1@S@For Ms. Bogart, who initially studied and directed in Germany (and cites such European directors as Peter Stein, Giorgio Strehler and Ariane Mnouchkine as influences) tends to stage her productions with a Brechtian rigor -- whether the text demands it or not.@@@@1@42@@oe@2-2-2013
21163010@unknown@formal@none@1@S@And Gorky, considered the father of Soviet socialist realism, did not write plays that easily lend themselves to deliberately antirealistic distancing techniques.@@@@1@22@@oe@2-2-2013
21163011@unknown@formal@none@1@S@Gorky was a loyal if occasionally ambivalent proletarian writer committed to enlightening the masses with plain speaking rooted in a slightly sour version of Chekhovian humanism.@@@@1@26@@oe@2-2-2013
21163012@unknown@formal@none@1@S@And "Summerfolk," penned in 1904 as a kind of sequel to Chekhov's "Cherry Orchard," is a lawn party of Russian yuppies engaged in an exhausting ideological fight to the finish between the allrightniks and the reformers.@@@@1@36@@oe@2-2-2013
21163013@unknown@formal@none@1@S@Along the way there also are lots of romantic dalliances.@@@@1@10@@oe@2-2-2013
21163014@unknown@formal@none@1@S@Wisely Ms. Bogart has kept Gorky's time and place intact.@@@@1@10@@oe@2-2-2013
21163015@unknown@formal@none@1@S@Despite the absence of samovars (and a tendency to turn the furniture upside down), the production is rich in Russian ennui voiced by languorous folk sporting beige linen and rumpled cotton, with boaters and fishing poles aplenty.@@@@1@37@@oe@2-2-2013
21163016@unknown@formal@none@1@S@But beyond this decorative nod to tradition, Ms. Bogart and company head off in a stylistic direction that all but transforms Gorky's naturalistic drama into something akin to, well, farce.@@@@1@30@@oe@2-2-2013
21163017@unknown@formal@none@1@S@The director's attempt to force some Brechtian distance between her actors and their characters frequently backfires with performances that are unduly mannered.@@@@1@22@@oe@2-2-2013
21163018@unknown@formal@none@1@S@Not only do the actors stand outside their characters and make it clear they are at odds with them, but they often literally stand on their heads.@@@@1@27@@oe@2-2-2013
21163019@unknown@formal@none@1@S@Like Peter Sellars, Ms. Bogart manipulates her actors as if they were rag dolls, sprawling them on staircases, dangling them off tables, even hanging them from precipices while having them perform some gymnastic feats of derring-do.@@@@1@36@@oe@2-2-2013
21163020@unknown@formal@none@1@S@There are moments in this "Summerfolk" when the characters populating the vast multilevel country house (which looks like a parody of Frank Lloyd Wright and is designed by Victoria Petrovich) spout philosophic bon mots with the self-conscious rat-a-tat-tat pacing of "Laugh In."@@@@1@42@@oe@2-2-2013
21163021@unknown@formal@none@1@S@"Talk hurts from where it spurts," one of them says.@@@@1@10@@oe@2-2-2013
21163022@unknown@formal@none@1@S@The clash of ideologies survives this treatment, but the nuance and richness of Gorky's individual characters have vanished in the scuffle.@@@@1@21@@oe@2-2-2013
21163023@unknown@formal@none@1@S@As for the humor that Gorky's text provides, when repainted in such broad strokes (particularly by the lesser members of the ensemble) it looks and sounds forced.@@@@1@27@@oe@2-2-2013
21163024@unknown@formal@none@1@S@Ms. Bogart does better with music than with words when she wants, as she so often does want, to express herself through Gorky's helpless play.@@@@1@25@@oe@2-2-2013
21163025@unknown@formal@none@1@S@Here she has the aid of her longtime associate Jeff Helpern, whom she appointed Trinity's first-ever musical director and whom she equipped with a spanking new $60,000 sound system and recording studio.@@@@1@32@@oe@2-2-2013
21163026@unknown@formal@none@1@S@For Gorky, Mr. Helpern provided an aural collage of Debussy and Rachmaninoff, which is less a score than a separate character with a distinct point of view.@@@@1@27@@oe@2-2-2013
21163027@unknown@formal@none@1@S@Like Brecht, and indeed Ezra Pound, Ms. Bogart has said that her intent in such manipulative staging of the classics is simply an attempt to "make it new."@@@@1@28@@oe@2-2-2013
21163028@unknown@formal@none@1@S@Indeed, during a recent post-production audience discussion, the director explained that her fondest artistic wish was to find a way to play "Somewhere Over the Rainbow" so that the song's "original beauty comes through," surmounting the cliche.@@@@1@37@@oe@2-2-2013
21163029@unknown@formal@none@1@S@The danger that Ms. Bogart seems to be courting here is one of obfuscation rather than rejuvenation, a vision so at odds with the playwright's that the two points of view nullify, rather than illuminate, each other.@@@@1@37@@oe@2-2-2013
21163030@unknown@formal@none@1@S@Ms. Bogart's cast is part and parcel of the problem.@@@@1@10@@oe@2-2-2013
21163031@unknown@formal@none@1@S@Ed Shea and Barbara Orson never find a real reason for their love affair as the foolish, idealistic young Vass and the tirelessly humanitarian doctor Maria Lvovna.@@@@1@27@@oe@2-2-2013
21163032@unknown@formal@none@1@S@Cynthia Strickland as the long-suffering Varvara is a tiresome whiner, not the inspirational counterrevolutionary Gorky intended.@@@@1@16@@oe@2-2-2013
21163033@unknown@formal@none@1@S@Better to look in the corners for performances that inspire or amuse.@@@@1@12@@oe@2-2-2013
21163034@unknown@formal@none@1@S@Janice Duclos, in addition to possessing one of the evening's more impressive vocal instruments, brings an unsuspected comedic touch to her role of Olga, everybody's favorite mom.@@@@1@27@@oe@2-2-2013
21163035@unknown@formal@none@1@S@Marni Rice plays the maid with so much edge as to steal her two scenes.@@@@1@15@@oe@2-2-2013
21163036@unknown@formal@none@1@S@But it is the Trinity Rep newcomer, Jonathan Fried (Zamislov, the paralegal) who is the actor to watch, whether he is hamming it up while conducting the chamber musicians or seducing his neighbor's wife (Becca Lish) by licking her bosom.@@@@1@40@@oe@2-2-2013
21163037@unknown@formal@none@1@S@Ms. de Vries writes frequently about theater.@@@@1@7@@oe@2-2-2013
21164001@unknown@formal@none@1@S@(During its centennial year, The Wall Street Journal will report events of the past century that stand as milestones of American business history.)@@@@1@23@@oe@2-2-2013
21164002@unknown@formal@none@1@S@MORGAN STANLEY, THE ONCE STODGY investment house, in 1974 helped a corporate client complete a hostile takeover.@@@@1@17@@oe@2-2-2013
21164003@unknown@formal@none@1@S@It was the start of a boom in unfriendly, even ungentlemanly, mergers.@@@@1@12@@oe@2-2-2013
21164004@unknown@formal@none@1@S@On July 18, 1974, International Nickle of Canada -- advised by Morgan -- offered $28 a share, equal to $157 million, for ESB, a Philadelphia battery maker.@@@@1@27@@oe@2-2-2013
21164005@unknown@formal@none@1@S@ESB said it was given only a three-hour advance warning on a "take it or leave it" basis from Inco, as the Toronto company is called.@@@@1@26@@oe@2-2-2013
21164006@unknown@formal@none@1@S@"ESB is aware that a hostile tender offer is being made by a foreign company for all of ESB's shares," said F.J. Port, ESB's president.@@@@1@25@@oe@2-2-2013
21164007@unknown@formal@none@1@S@"Hostile" thus entered the merger-acquisition lexicon.@@@@1@6@@oe@2-2-2013
21164008@unknown@formal@none@1@S@Joseph Flom, of Skadden, Arps, Slote, Meagher & Flom, which became a leading legal firm in merger cases, said the case "made takeovers respectable."@@@@1@24@@oe@2-2-2013
21164009@unknown@formal@none@1@S@ESB spurned Inco and within five days ESB had a "white knight" as United Aircraft -- headed by Harry Gray, a shrewdly friendly acquirer of companies -- offered $34 a share.@@@@1@31@@oe@2-2-2013
21164010@unknown@formal@none@1@S@Gray was advised by Goldman Sachs and Merrill Lynch.@@@@1@9@@oe@2-2-2013
21164011@unknown@formal@none@1@S@ESB directors warmly accepted, but a whirlwind bidding match ensued.@@@@1@10@@oe@2-2-2013
21164012@unknown@formal@none@1@S@Within a few days in July, Inco raised its bid to $36 and United matched it.@@@@1@16@@oe@2-2-2013
21164013@unknown@formal@none@1@S@On a single day Inco lifted its offer to $38 and then to $41, equal to $225.5 million.@@@@1@18@@oe@2-2-2013
21164014@unknown@formal@none@1@S@United met the $38 but then withdrew.@@@@1@7@@oe@2-2-2013
21164015@unknown@formal@none@1@S@ESB on July 29 accepted the Inco offer and the brief battle -- unlike the intricate and lengthy big takeovers of 1984-1989 -- was over.@@@@1@25@@oe@2-2-2013
21164016@unknown@formal@none@1@S@The new gritty game became a money maker for Wall Street's once austere old-name houses.@@@@1@15@@oe@2-2-2013
21164017@unknown@formal@none@1@S@Inco paid Morgan an advisory fee of about $250,000, a paltry figure by today's measures.@@@@1@15@@oe@2-2-2013
21164018@unknown@formal@none@1@S@Early this year Morgan and three other investment houses each received $25 million in advisory fees from Kohlberg Kravis & Roberts in its $25 billion friendly buy-out of RJR Nabisco.@@@@1@30@@oe@2-2-2013
21165001@unknown@formal@none@1@S@HomeFed Corp. said third-quarter net income slid 14% to $23.9 million, or $1.10 per fully diluted share, from $27.9 million, or $1.21 a fully diluted share, because of increased bad assets and unexpected trouble in unloading foreclosed property.@@@@1@38@@oe@2-2-2013
21165002@unknown@formal@none@1@S@The decline surprised analysts and jolted HomeFed's stock, which lost 8.6% of its value, closing at $38.50 on the New York Stock Exchange, down $3.625.@@@@1@25@@oe@2-2-2013
21165003@unknown@formal@none@1@S@HomeFed had been one of the handful of large West Coast thrifts that in recent quarters had counteracted interest-rate problems dogging the industry by keeping a lid on problem assets and lending heavily into the furious California housing market.@@@@1@39@@oe@2-2-2013
21165004@unknown@formal@none@1@S@Analysts had been projecting fully diluted earnings in the third quarter in the range of about $1.30 a share.@@@@1@19@@oe@2-2-2013
21165005@unknown@formal@none@1@S@However, HomeFed's loan originations and purchases plunged 26% in the quarter, to $1.4 billion from $1.9 billion a year earlier.@@@@1@20@@oe@2-2-2013
21165006@unknown@formal@none@1@S@Meanwhile, non-performing assets rose to $593 million from $518.7 million.@@@@1@10@@oe@2-2-2013
21165007@unknown@formal@none@1@S@Some $380 million of the troubled assets is repossessed real estate, a 55.6% surge from the $244.2 million of repossesed property HomeFed held a year ago.@@@@1@26@@oe@2-2-2013
21165008@unknown@formal@none@1@S@HomeFed has $17.9 billion of assets.@@@@1@6@@oe@2-2-2013
21165009@unknown@formal@none@1@S@HomeFed said most of the troubled assets are apartment complexes, shopping malls and other commercial real estate.@@@@1@17@@oe@2-2-2013
21165010@unknown@formal@none@1@S@It said about half are in California, with the rest scattered across the country.@@@@1@14@@oe@2-2-2013
21165011@unknown@formal@none@1@S@It said sales of such properties were slower than anticipated in the third quarter, but it expects sales to pick up in the rest of the year.@@@@1@27@@oe@2-2-2013
21165012@unknown@formal@none@1@S@HomeFed said the slide in loan originations was more a matter of design than a sign of cooling in the California market.@@@@1@22@@oe@2-2-2013
21165013@unknown@formal@none@1@S@Any such downturn in California would be grim news for West Coast thrifts, particularly the less healthy ones, which have performed poorly even with a torrid market.@@@@1@27@@oe@2-2-2013
21165014@unknown@formal@none@1@S@But HomeFed said it purposely curbed loan originations in the quarter because of uncertainty over the new capital requirements and regulations that will emerge from negotiations over implementing the government's massive thrift bailout bill.@@@@1@34@@oe@2-2-2013
21165015@unknown@formal@none@1@S@It said its real-estate operations earned a record $21.7 million, more than double year-earlier real estate profit of $9 million.@@@@1@20@@oe@2-2-2013
21165016@unknown@formal@none@1@S@And analysts said they see no signs of an imminent swoon in California real estate, even with last week's earthquake.@@@@1@20@@oe@2-2-2013
21165017@unknown@formal@none@1@S@The thrift said earnings also were nicked in the quarter by a $4 million provision for losses associated with its previously reported plan to liquidate a real-estate franchise network.@@@@1@29@@oe@2-2-2013
21165018@unknown@formal@none@1@S@For the nine months, HomeFed earned $82.5 million, or $3.52 a fully diluted share, a 4.3% increase from year-earlier net income of $79.1 million, or $3.43 a fully diluted share.@@@@1@30@@oe@2-2-2013
21166001@unknown@formal@none@1@S@Yields on certificates of deposit at major banks were little changed in the latest week.@@@@1@15@@oe@2-2-2013
21166002@unknown@formal@none@1@S@The average yield on six-month CDs of $50,000 and less slipped to 7.96% from 8.00%, according to Banxquote Money Markets, an information service based here.@@@@1@25@@oe@2-2-2013
21166003@unknown@formal@none@1@S@On one-year CDs of $50,000 and less, the average slid to 8.02% from 8.06%.@@@@1@14@@oe@2-2-2013
21166004@unknown@formal@none@1@S@Both issues are among the most popular with individual investors.@@@@1@10@@oe@2-2-2013
21166005@unknown@formal@none@1@S@"Because of shrinkage in the economy, rates can be expected to decline over a one-year horizon," said Norberto Mehl, chairman of Banxquote.@@@@1@22@@oe@2-2-2013
21166006@unknown@formal@none@1@S@"It's unclear how much rates can fall and how soon."@@@@1@10@@oe@2-2-2013
21166007@unknown@formal@none@1@S@Changes in CD yields in the week ended Tuesday were in line with blips up and down within a fairly narrow range for the last two months.@@@@1@27@@oe@2-2-2013
21166008@unknown@formal@none@1@S@Interest rates generally began declining last spring after moving steadily upward for more than a year.@@@@1@16@@oe@2-2-2013
21166009@unknown@formal@none@1@S@The average yield on small-denomination three-month CDs moved up two-hundredths of a percentage point in the latest week to 7.85%.@@@@1@20@@oe@2-2-2013
21166010@unknown@formal@none@1@S@Long-term CDs declined just a fraction.@@@@1@6@@oe@2-2-2013
21166011@unknown@formal@none@1@S@The average yield on both two-year CDs and five-year CDs was 7.98%.@@@@1@12@@oe@2-2-2013
21166012@unknown@formal@none@1@S@Only CDs sold by major brokerage firms posted significant increases in average yields in the latest week, reflecting increased yields on Treasury bills sold at Monday's auction.@@@@1@27@@oe@2-2-2013
21166013@unknown@formal@none@1@S@The average yield on six-month broker-sold CDs rose to 8.29% from 8.05% and on one-year CDs the average yield rose to 8.30% from 8.09%.@@@@1@24@@oe@2-2-2013
21166014@unknown@formal@none@1@S@The brokerage firms, which negotiate rates with the banks and thrifts whose CDs they sell, generally feel they have to offer clients more than they can get on T-bills or from banks and thrifts directly.@@@@1@35@@oe@2-2-2013
21166015@unknown@formal@none@1@S@T-bills sold at Monday's auction yielded 7.90% for six months and 7.77% for three months, up from 7.82% and 7.61%, respectively, the week before.@@@@1@24@@oe@2-2-2013
21166016@unknown@formal@none@1@S@So-called jumbo CDs, typically in denominations of $90,000 and up, also usually follow T-bills and interest rate trends in general more than those aimed at small investors.@@@@1@27@@oe@2-2-2013
21166017@unknown@formal@none@1@S@Some jumbos posted fractional changes in average yields this week, both up and down.@@@@1@14@@oe@2-2-2013
21166018@unknown@formal@none@1@S@The average yield on threemonth jumbos rose to 8.00% from 7.96%, while the two-year average fell by the same amount to 7.89%.@@@@1@22@@oe@2-2-2013
21166019@unknown@formal@none@1@S@Six-month and oneyear yields were unchanged, on average.@@@@1@8@@oe@2-2-2013
21166020@unknown@formal@none@1@S@"The (CD) market is unsettled right now," said Banxquote's Mr. Mehl.@@@@1@11@@oe@2-2-2013
21166021@unknown@formal@none@1@S@"It's very easily influenced by changes in the stock market and the junk bond market."@@@@1@15@@oe@2-2-2013
21166022@unknown@formal@none@1@S@The small changes in averages reflect generally unchanged yields at many major banks.@@@@1@13@@oe@2-2-2013
21166023@unknown@formal@none@1@S@Some, however, lowered yields significantly.@@@@1@5@@oe@2-2-2013
21166024@unknown@formal@none@1@S@At Chase Manhattan Bank in New York, for example, the yield on a small denomination six-month CD fell about a quarter of a percentage point to 8.06%.@@@@1@27@@oe@2-2-2013
21166025@unknown@formal@none@1@S@In California, Bank of America dropped the yield on both six-month and one-year "savings" CDs to 8.33% from 8.61%.@@@@1@19@@oe@2-2-2013
21166026@unknown@formal@none@1@S@Yields on money-market deposits were unchanged at an average 6.96% for $50,000 and less and down just a hundredth of a percentage point to 7.41% for jumbo deposits.@@@@1@28@@oe@2-2-2013
21167001@unknown@formal@none@1@S@Lion Nathan Ltd. agreed to buy the franchise to bottle, distribute and market Pepsi-Cola soft-drink products in Australia, the company said.@@@@1@21@@oe@2-2-2013
21167002@unknown@formal@none@1@S@The New Zealand brewing and retail concern didn't disclose terms.@@@@1@10@@oe@2-2-2013
21167003@unknown@formal@none@1@S@The agreement is effective Jan. 1 and is subject to approval from Australia's Foreign Investment Review Board.@@@@1@17@@oe@2-2-2013
21167004@unknown@formal@none@1@S@Cadbury Schweppes Australia Ltd. has held the Australian Pepsi franchise for the past four years.@@@@1@15@@oe@2-2-2013
21167005@unknown@formal@none@1@S@Lion Nathan and PepsiCola Australia, a unit of PepsiCo Inc. of the U.S., didn't say why Cadbury Schweppes will no longer hold the franchise.@@@@1@24@@oe@2-2-2013
21168001@unknown@formal@none@1@S@Wang Laboratories Inc. has sold $25 million of assets and reached agreements in principle to sell an additional $187 million shortly, Richard Miller, president, said at the annual meeting.@@@@1@29@@oe@2-2-2013
21168002@unknown@formal@none@1@S@He said Wang had reached an agreement with a "major financial firm" to sell for $150 million its domestic equipment lease portfolio and that of its Wang Credit Corp. subsidiary.@@@@1@30@@oe@2-2-2013
21168003@unknown@formal@none@1@S@He said it also agreed to sell a portion of its European real estate unit for $37 million.@@@@1@18@@oe@2-2-2013
21168004@unknown@formal@none@1@S@Mr. Miller said that Wang has already sold some $12 million of miscellaneous assets and disclosed that it had received $13 million from Compaq Computer Corp., Houston, in the previously announced sale of its Stirling, Scotland, plant.@@@@1@37@@oe@2-2-2013
21168005@unknown@formal@none@1@S@Mr. Miller repeated that in the next six months he plans to sell another $200 million to $300 million of assets to repay debt and reduce interest costs at Wang, a minincomputer maker in Lowell, Mass.@@@@1@36@@oe@2-2-2013
21168006@unknown@formal@none@1@S@In response to questions after the annual meeting, Mr. Miller said the company is no longer looking for an equity investor.@@@@1@21@@oe@2-2-2013
21168007@unknown@formal@none@1@S@During the summer, Wang executives had said they might seek outside investment.@@@@1@12@@oe@2-2-2013
21169001@unknown@formal@none@1@S@Murata Mfg. Co. said it is establishing a subsidiary in Britain to produce electric parts, including ceramic condensers.@@@@1@18@@oe@2-2-2013
21169002@unknown@formal@none@1@S@The Tokyo maker of ceramic capacitors said it purchased a plant in Plymouth.@@@@1@13@@oe@2-2-2013
21169003@unknown@formal@none@1@S@The company didn't disclose a purchase price or capitalization figures.@@@@1@10@@oe@2-2-2013
21169004@unknown@formal@none@1@S@Murata said, however, it will invest about 1.4 billion yen ($9.9 million) in the new company.@@@@1@16@@oe@2-2-2013
21169005@unknown@formal@none@1@S@Production is slated to begin in April.@@@@1@7@@oe@2-2-2013
21169006@unknown@formal@none@1@S@The company, which has a European foothold, Murata Europe Management G.m.b.H. in Germany, said the latest venture is designed to meet demand for electric parts in European Community countries ahead of the creation of the unified market by the end of 1992.@@@@1@42@@oe@2-2-2013
21169007@unknown@formal@none@1@S@Murata expects sales at the unit of about 1.5 billion yen in the first year.@@@@1@15@@oe@2-2-2013
21170001@unknown@formal@none@1@S@Safeway Stores Inc. reported a 69% decline in profit for the fiscal third quarter, but said operating improvements were masked by unusual gains in the year-earlier period.@@@@1@27@@oe@2-2-2013
21170002@unknown@formal@none@1@S@The Oakland grocery retailer, closely held since a $4.2 billion leveraged buy-out in 1986, said profit for the three months ended Sept. 9 was $7.1 million, compared with $23 million a year earlier.@@@@1@33@@oe@2-2-2013
21170003@unknown@formal@none@1@S@But it said the year-earlier results included gains of $23.5 million from divestitures.@@@@1@13@@oe@2-2-2013
21170004@unknown@formal@none@1@S@Sales rose 4.2% to $3.31 billion from $3.2 billion.@@@@1@9@@oe@2-2-2013
21170005@unknown@formal@none@1@S@For the nine months, the company said profit fell 49% to $23.5 million from $46 million in the year-earlier quarter, which included divestiture-related gains of $50.6 million.@@@@1@27@@oe@2-2-2013
21170006@unknown@formal@none@1@S@Sales increased 5.5% to $9.81 billion from $9.3 billion.@@@@1@9@@oe@2-2-2013
21171001@unknown@formal@none@1@S@Benjamin Jacobson & Sons has been the New York Stock Exchange specialist firm in charge of trading stock in UAL Corp. and its predecessors since the early 1930s.@@@@1@28@@oe@2-2-2013
21171002@unknown@formal@none@1@S@But the firm has never had a day like yesterday.@@@@1@10@@oe@2-2-2013
21171003@unknown@formal@none@1@S@At first UAL didn't open because of an order imbalance.@@@@1@10@@oe@2-2-2013
21171004@unknown@formal@none@1@S@When it did a half-hour into the session, it was priced at $150 a share, down more than $28 from Monday's close.@@@@1@22@@oe@2-2-2013
21171005@unknown@formal@none@1@S@It sank further to as low as $145, but a big rally developed in the last half hour, pushing the stock back up to close at $170, down just $8.375 from Monday.@@@@1@32@@oe@2-2-2013
21171006@unknown@formal@none@1@S@In the process, 4.9 million shares traded, making UAL the second most active issue on the Big Board.@@@@1@18@@oe@2-2-2013
21171007@unknown@formal@none@1@S@Munching pizza when they could and yelling until their voices gave out, the two Benjamin Jacobson specialists at the Big Board's UAL trading post yesterday presided over what can only be described as a financial free-for-all.@@@@1@36@@oe@2-2-2013
21171008@unknown@formal@none@1@S@"It was chaotic.@@@@1@3@@oe@2-2-2013
21171009@unknown@formal@none@1@S@But we like to call it 'controlled chaos,'" said 47-year-old Robert J. Jacobson Jr., grandson of the firm's founder.@@@@1@19@@oe@2-2-2013
21171010@unknown@formal@none@1@S@He manned the UAL post yesterday with Christopher Bates, 33, an energetic Long Islander who's a dead ringer for actor Nicolas Cage.@@@@1@22@@oe@2-2-2013
21171011@unknown@formal@none@1@S@Who was doing all the selling?@@@@1@6@@oe@2-2-2013
21171012@unknown@formal@none@1@S@"Options traders, arbitrage traders -- everyone," said Mr. Bates, cooling down with a carton of apple juice after the close yesterday.@@@@1@21@@oe@2-2-2013
21171013@unknown@formal@none@1@S@Added Mr. Jacobson, "There were some pretty bad losses in the stock."@@@@1@12@@oe@2-2-2013
21171014@unknown@formal@none@1@S@Big Board traders said a 200,000-share buy order at $150 a share entered by Bear, Stearns & Co., which was active in UAL stock all day, is what set off the UAL crowd in the late afternoon.@@@@1@37@@oe@2-2-2013
21171015@unknown@formal@none@1@S@A subsequent rally in UAL helped the staggering stock market stage an astonishing recovery from an 80-point deficit to finish only slightly below Monday's close.@@@@1@25@@oe@2-2-2013
21171016@unknown@formal@none@1@S@Both Jacobson traders, who had been hoping UAL trading would get back to normal, read the news about the unraveling of UAL takeover plans on the train into work yesterday morning.@@@@1@31@@oe@2-2-2013
21171017@unknown@formal@none@1@S@The news told them it would be a while longer before UAL resumed trading like a regular airline stock after months of gyrations.@@@@1@23@@oe@2-2-2013
21171018@unknown@formal@none@1@S@When Mr. Jacobson walked into the office at 7:30 a.m. EDT, he announced: "OK, buckle up."@@@@1@16@@oe@2-2-2013
21171019@unknown@formal@none@1@S@Messrs. Jacobson and Bates walked on the Big Board floor at about 8:45 a.m. yesterday and immediately spotted trouble.@@@@1@19@@oe@2-2-2013
21171020@unknown@formal@none@1@S@Already entered in the Big Board's computers and transmitted to their post were sell orders for 65,000 UAL shares.@@@@1@19@@oe@2-2-2013
21171021@unknown@formal@none@1@S@The UAL news had already caused a selling furor in the so-called third market, in which firms buy and sell stock away from the exchange floor.@@@@1@26@@oe@2-2-2013
21171022@unknown@formal@none@1@S@UAL, which closed on the Big Board Monday at $178.375 a share, traded in the third market afterward as low as $158 a share.@@@@1@24@@oe@2-2-2013
21171023@unknown@formal@none@1@S@There were rumors of $148-a-share trades.@@@@1@6@@oe@2-2-2013
21171024@unknown@formal@none@1@S@In the 45 minutes before the 9:30 opening bell, the Jacobson specialists kept getting sell orders, heavier than they imagined.@@@@1@20@@oe@2-2-2013
21171025@unknown@formal@none@1@S@And at 9:15, they posted a $135 to $155 "first indication," or the price range in which the stock would probably open.@@@@1@22@@oe@2-2-2013
21171026@unknown@formal@none@1@S@That range was quickly narrowed to $145 to $155, although traders surrounding the post were told that $148 to $150 would be the likely target.@@@@1@25@@oe@2-2-2013
21171027@unknown@formal@none@1@S@When UAL finally opened a half hour late, some 400,000 shares traded at $150.@@@@1@14@@oe@2-2-2013
21171028@unknown@formal@none@1@S@There was "selling pressure from everyone," said one trader.@@@@1@9@@oe@2-2-2013
21171029@unknown@formal@none@1@S@This month's Friday-the-13th market plunge spurred by UAL news wasn't as bad for the Jacobson specialists as yesterday's action.@@@@1@19@@oe@2-2-2013
21171030@unknown@formal@none@1@S@On that earlier day, the stock's trading was halted at a critical time so the specialists could catch their breath.@@@@1@20@@oe@2-2-2013
21171031@unknown@formal@none@1@S@Not yesterday.@@@@1@2@@oe@2-2-2013
21171032@unknown@formal@none@1@S@Mr. Jacobson, his gray hair flying, didn't wear out his red-white-and-blue sneakers, but he sweat so much he considered sending out for a new shirt.@@@@1@25@@oe@2-2-2013
21171033@unknown@formal@none@1@S@Mr. Bates usually handles day-to-day UAL trading on his own.@@@@1@10@@oe@2-2-2013
21171034@unknown@formal@none@1@S@But yesterday, the heavy trading action eventually consumed not only Messrs. Jacobson and Bates but four other Jacobson partners, all doing their specialist-firm job of tugging buyers and sellers together and adjusting prices to accommodate the market.@@@@1@37@@oe@2-2-2013
21171035@unknown@formal@none@1@S@About 30 floor traders crammed near the UAL post most of the day, and probably hundreds more came and went -- a "seething mass," as one trader described it.@@@@1@29@@oe@2-2-2013
21171036@unknown@formal@none@1@S@The 4.9 million-share volume flowing through the Jacobson specialist operation was about five times normal for the stock.@@@@1@18@@oe@2-2-2013
21171037@unknown@formal@none@1@S@The heavy buying in the last half hour led the specialists to take special steps.@@@@1@15@@oe@2-2-2013
21171038@unknown@formal@none@1@S@The Bear Stearns order that marked the late-day turnaround caused a "massive buying effort" as UAL jumped $20 a share to $170 in the last half hour, said Mr. Bates.@@@@1@30@@oe@2-2-2013
21171039@unknown@formal@none@1@S@With 15 seconds of trading to go, Mr. Jacobson, with what voice he had left, announced to the trading mob: "We're going to trade one price on the bell."@@@@1@29@@oe@2-2-2013
21171040@unknown@formal@none@1@S@That meant no trading would occur in the final seconds, as a way of making sure that last-second orders aren't subjected to a sudden price swing that would upset customers.@@@@1@30@@oe@2-2-2013
21171041@unknown@formal@none@1@S@About 11,000 shares sold at $170 on the bell, representing about eight to 10 late orders, the specialists estimate.@@@@1@19@@oe@2-2-2013
21171042@unknown@formal@none@1@S@Big Board traders praised the Jacobson specialists for getting through yesterday without a trading halt.@@@@1@15@@oe@2-2-2013
21171043@unknown@formal@none@1@S@In Chicago, a UAL spokesman, "by way of policy," declined to comment on the company's stock or the specialists' performance.@@@@1@20@@oe@2-2-2013
21171044@unknown@formal@none@1@S@Leaving the exchange at about 5 p.m., the Jacobson specialists made no predictions about how trading might go today.@@@@1@19@@oe@2-2-2013
21171045@unknown@formal@none@1@S@Said Earl Ellis, a Jacobson partner who got involved in the UAL action, "It all starts all over again" today.@@@@1@20@@oe@2-2-2013
21172001@unknown@formal@none@1@S@Britain's current account deficit dropped to #1.6 billion ($2.56 billion) in September from an adjusted #2 billion ($3.21 billion) the previous month, but the improvement comes amid increasing concern that a recession could strike the U.K. economy next year.@@@@1@39@@oe@2-2-2013
21172002@unknown@formal@none@1@S@The Confederation of British Industry's latest survey shows that business executives expect a pronounced slowdown, largely because of a 16-month series of interest-rate increases that has raised banks' base lending rates to 15%.@@@@1@33@@oe@2-2-2013
21172003@unknown@formal@none@1@S@"The outlook has deteriorated since the summer, with orders and employment falling and output at a standstill," said David Wigglesworth, chairman of the industry group's economic committee.@@@@1@27@@oe@2-2-2013
21172004@unknown@formal@none@1@S@He also said investment by businesses is falling off.@@@@1@9@@oe@2-2-2013
21172005@unknown@formal@none@1@S@Of 1,224 companies surveyed, 31% expect to cut spending on plant equipment and machinery, while only 28% plan to spend more.@@@@1@21@@oe@2-2-2013
21172006@unknown@formal@none@1@S@But despite mounting recession fears, government data don't yet show the economy grinding to a halt.@@@@1@16@@oe@2-2-2013
21172007@unknown@formal@none@1@S@Unemployment, for example, has continued to decline, and the September trade figures showed increases in both imports and exports.@@@@1@19@@oe@2-2-2013
21172008@unknown@formal@none@1@S@As a result, Prime Minister Margaret Thatcher's government isn't currently expected to ease interest rates before next spring, if then.@@@@1@20@@oe@2-2-2013
21172009@unknown@formal@none@1@S@Chancellor of the Exchequer Nigel Lawson views the high rates as his chief weapon against inflation, which was ignited by tax cuts and loose credit policies in 1986 and 1987.@@@@1@30@@oe@2-2-2013
21172010@unknown@formal@none@1@S@Officials fear that any loosening this year could rekindle inflation or further weaken the pound against other major currencies.@@@@1@19@@oe@2-2-2013
21172011@unknown@formal@none@1@S@Fending off attacks on his economic policies in a House of Commons debate yesterday, Mr. Lawson said inflation "remains the greatest threat to our economic well-being" and promised to take "whatever steps are needed" to choke it off.@@@@1@38@@oe@2-2-2013
21172012@unknown@formal@none@1@S@The latest government figures said retail prices in September were up 7.6% from a year earlier.@@@@1@16@@oe@2-2-2013
21172013@unknown@formal@none@1@S@Many economists have started predicting a mild recession next year.@@@@1@10@@oe@2-2-2013
21172014@unknown@formal@none@1@S@David Owen, U.K. economist with Kleinwort Benson Group, reduced his growth forecast for 1990 to 0.7% from 1.2% and termed the risk of recession next year "quite high."@@@@1@28@@oe@2-2-2013
21172015@unknown@formal@none@1@S@But he said the downturn probably won't become a "major contraction" similar to those of 1974 and 1982.@@@@1@18@@oe@2-2-2013
21172016@unknown@formal@none@1@S@Still, Britain's current slump is a cause for concern here as the nation joins in the European Community's plan to create a unified market by 1992.@@@@1@26@@oe@2-2-2013
21172017@unknown@formal@none@1@S@Compared with the major economies on the Continent, the U.K. faces both higher inflation and lower growth in the next several months.@@@@1@22@@oe@2-2-2013
21172018@unknown@formal@none@1@S@As a result, Mr. Owen warned, investment will be more likely to flow toward the other European economies and "the U.K. will be less prepared for the single market."@@@@1@29@@oe@2-2-2013
21172019@unknown@formal@none@1@S@Britain's latest trade figures contained some positive news for the economy, such as a surge in the volume of exports, which were 8.5% higher than a year earlier.@@@@1@28@@oe@2-2-2013
21172020@unknown@formal@none@1@S@But while September exports rose to #8.43 billion, imports shot up to #10.37 billion.@@@@1@14@@oe@2-2-2013
21172021@unknown@formal@none@1@S@The resulting #1.9 billion merchandise trade deficit was partly offset by an assumed surplus of #300 million in so-called invisible items, which include income from investments, services and official transfers.@@@@1@30@@oe@2-2-2013
21172022@unknown@formal@none@1@S@Despite the narrowing of the monthly trade gap, economists expect the current account deficit for all of 1989 to swell to about #20 billion from #14.6 billion in 1988.@@@@1@29@@oe@2-2-2013
21172023@unknown@formal@none@1@S@Increasingly, economists say the big deficit reflects the slipping competitive position of British industry.@@@@1@14@@oe@2-2-2013
21172024@unknown@formal@none@1@S@"When the country gets wealthier, we tend to buy high-quality imports," Mr. Owen said.@@@@1@14@@oe@2-2-2013
21173001@unknown@formal@none@1@S@Vickers PLC, a British aerospace, defense and automotive conglomerate, said it reached an agreed cash bid of #108.2 million ($173.3 million) for Ross Catherall Group PLC, a maker of specialty alloy and ceramics.@@@@1@33@@oe@2-2-2013
21173002@unknown@formal@none@1@S@The company said it expects to receive acceptances for its offer of 253 pence ($4.05) per share representing at least 67% of Ross Catherall's issued share capital, or 12.7 million ordinary shares.@@@@1@32@@oe@2-2-2013
21173003@unknown@formal@none@1@S@Vickers said its offer also includes an option to receive a redeemable loan note in lieu of cash.@@@@1@18@@oe@2-2-2013
21173004@unknown@formal@none@1@S@The notes can be redeemed starting in July 1991.@@@@1@9@@oe@2-2-2013
21173005@unknown@formal@none@1@S@The company said its acquisition of Ross Catherall will be covered largely by cash raised in its July disposal of Howson-Algraphy for #241.7 million.@@@@1@24@@oe@2-2-2013
21174001@unknown@formal@none@1@S@If bluebloods won't pay high prices for racehorses anymore, who will?@@@@1@11@@oe@2-2-2013
21174002@unknown@formal@none@1@S@Breeders are betting on the common folk.@@@@1@7@@oe@2-2-2013
21174003@unknown@formal@none@1@S@The Thoroughbred Owners and Breeders Association, a Lexington, Ky.-based trade group, has launched "seminars" for "potential investors" at race tracks around the country.@@@@1@23@@oe@2-2-2013
21174004@unknown@formal@none@1@S@The group, which has held half a dozen seminars so far, also is considering promotional videos and perhaps a pitch to Wall Street investment bankers.@@@@1@25@@oe@2-2-2013
21174005@unknown@formal@none@1@S@"People in this business have been insulated," says Josh Pons, a horse breeder from Bel Air, Md.@@@@1@17@@oe@2-2-2013
21174006@unknown@formal@none@1@S@"But the real future of this game is in a number of people owning a few horses."@@@@1@17@@oe@2-2-2013
21174007@unknown@formal@none@1@S@At the Laurel race track, the breeders are romancing people like Tim Hulings, a beer packaging plant worker.@@@@1@18@@oe@2-2-2013
21174008@unknown@formal@none@1@S@Right now, Mr. Hulings is waving his racing program, cheering for Karnak on the Nile, a sleek thoroughbred galloping down the home stretch.@@@@1@23@@oe@2-2-2013
21174009@unknown@formal@none@1@S@Mr. Hulings gloats that he sold all his stocks a week before the market plummeted 190 points on Oct. 13, and he is using the money to help buy a 45-acre horse farm.@@@@1@33@@oe@2-2-2013
21174010@unknown@formal@none@1@S@"Just imagine how exciting that would be if that's your horse," he says.@@@@1@13@@oe@2-2-2013
21174011@unknown@formal@none@1@S@But experts caution that this isn't a game for anyone with a weak stomach or wallet.@@@@1@16@@oe@2-2-2013
21174012@unknown@formal@none@1@S@"It's a big-risk business," warns Charles C. Mihalek, a Lexington attorney and former Kentucky state securities commissioner.@@@@1@17@@oe@2-2-2013
21174013@unknown@formal@none@1@S@"You have to go into it firmly believing that it's the kind of investment where you can lose everything."@@@@1@19@@oe@2-2-2013
21174014@unknown@formal@none@1@S@And many have done just that.@@@@1@6@@oe@2-2-2013
21174015@unknown@formal@none@1@S@Consider Spendthrift Farm, a prominent Lexington horse farm that went public in 1983 but hit hard times and filed for bankruptcy-court protection last year.@@@@1@24@@oe@2-2-2013
21174016@unknown@formal@none@1@S@A group of investors recently bought the remaining assets of Spendthrift, hoping to rebuild it.@@@@1@15@@oe@2-2-2013
21174017@unknown@formal@none@1@S@Other investors have lost millions in partnerships that bought thoroughbred racehorses or stallion breeding rights.@@@@1@15@@oe@2-2-2013
21174018@unknown@formal@none@1@S@One big problem has been the thoroughbred racehorse market.@@@@1@9@@oe@2-2-2013
21174019@unknown@formal@none@1@S@From 1974 to 1984, prices for the best yearlings at the summer sales rose 918% to an average of $544,681.@@@@1@20@@oe@2-2-2013
21174020@unknown@formal@none@1@S@Since then, prices have slumped, to an average of $395,374 this summer.@@@@1@12@@oe@2-2-2013
21174021@unknown@formal@none@1@S@But that's for the best horses, with most selling for much less -- as little as $100 for some pedestrian thoroughbreds.@@@@1@21@@oe@2-2-2013
21174022@unknown@formal@none@1@S@Even while they move outside their traditional tony circle, racehorse owners still try to capitalize on the elan of the sport.@@@@1@21@@oe@2-2-2013
21174023@unknown@formal@none@1@S@Glossy brochures circulated at racetracks gush about the limelight of the winner's circle and high-society schmoozing.@@@@1@16@@oe@2-2-2013
21174024@unknown@formal@none@1@S@One handout promises: "Pedigrees, parties, post times, parimutuels and pageantry."@@@@1@10@@oe@2-2-2013
21174025@unknown@formal@none@1@S@"It's just a matter of marketing and promoting ourselves," says Headley Bell, a fifth-generation horse breeder from Lexington.@@@@1@18@@oe@2-2-2013
21174026@unknown@formal@none@1@S@Maybe it's not that simple.@@@@1@5@@oe@2-2-2013
21174027@unknown@formal@none@1@S@For starters, racehorse buyers have to remember the basic problem of such ventures: These beasts don't come with warranties.@@@@1@19@@oe@2-2-2013
21174028@unknown@formal@none@1@S@And for every champion, there are plenty of nags.@@@@1@9@@oe@2-2-2013
21174029@unknown@formal@none@1@S@Katherine Voss, a veteran trainer at the Laurel, Md., track, offers neophytes a sobering tour of a horse barn, noting that only three of about a dozen horses have won sizable purses.@@@@1@32@@oe@2-2-2013
21174030@unknown@formal@none@1@S@One brown two-year-old filly was wheezing from a cold, while another had splints on its legs, keeping both animals from the racetrack.@@@@1@22@@oe@2-2-2013
21174031@unknown@formal@none@1@S@"You can see the highs and lows of the business all under one roof," she tells the group.@@@@1@18@@oe@2-2-2013
21174032@unknown@formal@none@1@S@"There aren't too many winners."@@@@1@5@@oe@2-2-2013
21174033@unknown@formal@none@1@S@Perhaps the biggest hurdle owners face is convincing newcomers that this is a reputable business.@@@@1@15@@oe@2-2-2013
21174034@unknown@formal@none@1@S@Some badly managed partnerships have burned investors, sometimes after they received advice from industry "consultants."@@@@1@15@@oe@2-2-2013
21174035@unknown@formal@none@1@S@So owners have developed a "code of ethics," outlining rules for consultants and agents, and disclosure of fees and any conflicts of interest.@@@@1@23@@oe@2-2-2013
21174036@unknown@formal@none@1@S@But some are skeptical of the code's effectiveness.@@@@1@8@@oe@2-2-2013
21174037@unknown@formal@none@1@S@"The industry is based on individual honesty," says Cap Hershey, a Lexington horse farmer and one of the investors who bought Spendthrift.@@@@1@22@@oe@2-2-2013
21174038@unknown@formal@none@1@S@Despite the drop in prices for thoroughbreds, owning one still isn't cheap.@@@@1@12@@oe@2-2-2013
21174039@unknown@formal@none@1@S@At the low end, investors can spend $15,000 or more to own a racehorse in partnership with others.@@@@1@18@@oe@2-2-2013
21174040@unknown@formal@none@1@S@At a yearling sale, a buyer can go solo and get a horse for a few thousand dollars.@@@@1@18@@oe@2-2-2013
21174041@unknown@formal@none@1@S@But that means paying the horse's maintenance; on average, it costs $25,000 a year to raise a horse.@@@@1@18@@oe@2-2-2013
21174042@unknown@formal@none@1@S@For those looking for something between a minority stake and total ownership, the owners' group is considering a special sale where established horse breeders would sell a 50% stake in horses to newcomers.@@@@1@33@@oe@2-2-2013
21175001@unknown@formal@none@1@S@BUELL INDUSTRIES Inc. halved its quarterly dividend to five cents a share, payable Nov. 17 to stock of record Nov. 3.@@@@1@21@@oe@2-2-2013
21175002@unknown@formal@none@1@S@The company's quarterly dividend had been 10 cents a share since April 30, 1988.@@@@1@14@@oe@2-2-2013
21175003@unknown@formal@none@1@S@Buell recently said it would incur an aftertax charge of about $3.6 million in its fourth quarter ending Tuesday, in connection with the sale and discontinuance of several lines at a plant.@@@@1@32@@oe@2-2-2013
21175004@unknown@formal@none@1@S@The Waterbury, Conn., maker of industrial fasteners and metal stampings has 2.3 million shares outstanding.@@@@1@15@@oe@2-2-2013
21176001@unknown@formal@none@1@S@Dunkin' Donuts Inc., battling a takeover proposal by Canada's DD Acquisition Corp., said that its directors will evaluate takeover offers submitted by Nov. 10.@@@@1@24@@oe@2-2-2013
21176002@unknown@formal@none@1@S@Dunkin' Donuts, based in Randolph, Mass., previously said it would explore "alternatives," including a leveraged buy-out of the company, but hadn't set a date for submission of proposals.@@@@1@28@@oe@2-2-2013
21176003@unknown@formal@none@1@S@Dunkin' Donuts Chairman and Chief Executive Robert M. Rosenberg said "a sale is one alternative being considered," but he added the board hasn't decided whether to sell the doughnut franchiser.@@@@1@30@@oe@2-2-2013
21176004@unknown@formal@none@1@S@DD Acquisition, jointly owned by Unicorp Canada Corp.'s Kingsbridge Capital Group unit and Cara Operations Ltd., has made a $45-a-share tender offer valued at $268 million for Dunkin' Donuts.@@@@1@29@@oe@2-2-2013
21176005@unknown@formal@none@1@S@Dunkin' Donuts' announcement followed DD Acquisition's request to the Delaware Court of Chancery Monday to set a trial date for its suit against the company.@@@@1@25@@oe@2-2-2013
21176006@unknown@formal@none@1@S@The trial had been postponed to allow Dunkin' Donuts to seek alternatives to DD Acquisition's offer.@@@@1@16@@oe@2-2-2013
21177001@unknown@formal@none@1@S@Combustion Engineering Inc. said third-quarter net income of $22.8 million, reversing a $91.7 million year-earlier loss.@@@@1@16@@oe@2-2-2013
21177002@unknown@formal@none@1@S@The Stamford, Conn., power-generation products and services company said per-share earnings were 56 cents compared with the year-ago loss of $2.39.@@@@1@21@@oe@2-2-2013
21177003@unknown@formal@none@1@S@Sales fell 1.5% to $884 million from $897.2 million.@@@@1@9@@oe@2-2-2013
21177004@unknown@formal@none@1@S@Strong profit in the process industries, including chemical and pulp and paper, were offset by higher interest expense and by lower earnings as the company closed out certain long-term contracts.@@@@1@30@@oe@2-2-2013
21177005@unknown@formal@none@1@S@Combustion reported improved profits in its automation and control products businesses, and it narrowed its losses in its public sector and environmental segment.@@@@1@23@@oe@2-2-2013
21177006@unknown@formal@none@1@S@Power generation had higher sales but lower earnings; the company cited factors including work on certain low profit-margin contracts from previous years.@@@@1@22@@oe@2-2-2013
21177007@unknown@formal@none@1@S@Net in the latest quarter included a pretax gain of $22.4 million from the sale of Combustion's minority interest in Stein Industrie to GEC Alsthom N.V. of the Netherlands.@@@@1@29@@oe@2-2-2013
21177008@unknown@formal@none@1@S@Last year's results reflected a gain of $28.2 million on disposition of assets and a $165 million pretax provision mainly from costs of completing certain waste-to-energy and other power plants.@@@@1@30@@oe@2-2-2013
21178001@unknown@formal@none@1@S@Claude Bebear, chairman and chief executive officer, of Axa-Midi Assurances, pledged to retain employees and management of Farmers Group Inc., including Leo E. Denlea Jr., chairman and chief executive officer, if Axa succeeds in acquiring Farmers.@@@@1@36@@oe@2-2-2013
21178002@unknown@formal@none@1@S@Mr. Bebear added that the French insurer would keep Farmers' headquarters in Los Angeles and "will not send French people to run the company."@@@@1@24@@oe@2-2-2013
21178003@unknown@formal@none@1@S@Axa would also maintain Farmers' relationships with the insurance exchanges that it manages.@@@@1@13@@oe@2-2-2013
21178004@unknown@formal@none@1@S@Mr. Bebear made his remarks at a breakfast meeting with reporters here yesterday as part of a tour in which he is trying to rally support in the U.S. for the proposed acquisition.@@@@1@33@@oe@2-2-2013
21178005@unknown@formal@none@1@S@The bid is part of Sir James Goldsmith's unfriendly takeover attempt for B.A.T Industries PLC, the British tobacco, retailing, paper and financial-services giant that acquired Farmers last year for $5.2 billion.@@@@1@31@@oe@2-2-2013
21178006@unknown@formal@none@1@S@Axa has agreed to acquire Farmers from Sir James's investment vehicle, Hoylake Investments Ltd., for $4.5 billion plus a $1 billion investment in Hoylake.@@@@1@24@@oe@2-2-2013
21178007@unknown@formal@none@1@S@Any acquisition of Farmers needs the approval of insurance commissioners in the nine states where Farmers operates, and Mr. Bebear's trip will take him to Idaho, Arizona and New York after his stay here; he will meet with insurance regulators, legislators, industry excutives and the press.@@@@1@46@@oe@2-2-2013
21178008@unknown@formal@none@1@S@Hearings on Axa's acquisition application have been set for Nov. 13 in Idaho; Nov. 20 in Illinois; Nov. 24 and Dec. 4 in Arizona; Dec. 11 in Washington state; and Jan. 8 in Oregon.@@@@1@34@@oe@2-2-2013
21178009@unknown@formal@none@1@S@Hearings haven't yet been set in Texas, Ohio and Kansas.@@@@1@10@@oe@2-2-2013
21178010@unknown@formal@none@1@S@California's insurance commissioner doesn't hold hearings on acquisition applications.@@@@1@9@@oe@2-2-2013
21178011@unknown@formal@none@1@S@Although Axa has been rebuffed by Farmers and hasn't had any meetings with management, Mr. Bebear nonetheless appears to be trying to woo the company's executives with promises of autonomy and new-found authority under Axa.@@@@1@35@@oe@2-2-2013
21178012@unknown@formal@none@1@S@He said Mr. Denlea would be a member of the top management team of the Axa-Midi group of companies, and would "help define policies and strategies of the group."@@@@1@29@@oe@2-2-2013
21178013@unknown@formal@none@1@S@Farmers was quick yesterday to point out the many negative aspects it sees in having Axa as its parent.@@@@1@19@@oe@2-2-2013
21178014@unknown@formal@none@1@S@For one, Axa plans to do away with certain tax credits that have resulted in more than $600 million paid to the Farmers exchanges during the past few years to offset underwriting losses.@@@@1@33@@oe@2-2-2013
21178015@unknown@formal@none@1@S@Those credits result because of taxes that Farmers, as the management company, has paid, and have "proved to be very important for the exchanges," a Farmers spokesman said.@@@@1@28@@oe@2-2-2013
21178016@unknown@formal@none@1@S@Mr. Bebear contended that the tax cost to the exchanges under the revised structure would be about $8 million a year, which he described as "peanuts.@@@@1@26@@oe@2-2-2013
21179001@unknown@formal@none@1@S@Honeywell Inc., Minneapolis, said it completed its previously announced sale of 16% of the shares outstanding in its Japanese joint venture, Yamatake-Honeywell, for $280 million.@@@@1@25@@oe@2-2-2013
21179002@unknown@formal@none@1@S@The stake was acquired by a group of 10 Japanese financial institutions and industrial corporations, primarily insurance companies, Honeywell said.@@@@1@20@@oe@2-2-2013
21179003@unknown@formal@none@1@S@Proceeds will be used to repurchase as many as 10 million shares of Honeywell stock, as previously announced.@@@@1@18@@oe@2-2-2013
21179004@unknown@formal@none@1@S@Honeywell said a second sale of Yamatake-Honeywell is still being negotiated.@@@@1@11@@oe@2-2-2013
21179005@unknown@formal@none@1@S@The company, which now holds a 34% stake in the venture, has indicated that it intends to retain at least a 20% stake long term.@@@@1@25@@oe@2-2-2013
21179006@unknown@formal@none@1@S@A 20% stake would allow Honeywell to include Yamatake earnings in its results.@@@@1@13@@oe@2-2-2013
21179007@unknown@formal@none@1@S@A company spokesman said the gain on the sale couldn't be estimated until the "tax treatment has been determined.@@@@1@19@@oe@2-2-2013
21180001@unknown@formal@none@1@S@OPPENHEIMER CAPITAL LIMITED PARTNERSHIP increased the quarterly distribution to 40 cents a limited partnership unit from 36.25 cents.@@@@1@18@@oe@2-2-2013
21180002@unknown@formal@none@1@S@The distribution represents available cash flow from the partnership between Aug. 1 and Oct. 31.@@@@1@15@@oe@2-2-2013
21180003@unknown@formal@none@1@S@It is payable Nov. 30 to units of record Oct. 31.@@@@1@11@@oe@2-2-2013
21180004@unknown@formal@none@1@S@The money manager is controlled 67.7% by its top officers and top officers of Oppenheimer & Co., a securities firm.@@@@1@20@@oe@2-2-2013
21180005@unknown@formal@none@1@S@Both firms are in New York.@@@@1@6@@oe@2-2-2013
21180006@unknown@formal@none@1@S@Oppenheimer Capital has about 7.9 million limited partnership units outstanding.@@@@1@10@@oe@2-2-2013
21180007@unknown@formal@none@1@S@In New York Stock Exchange composite trading yesterday, the units closed at $15.125, up 12.5 cents.@@@@1@16@@oe@2-2-2013
21181001@unknown@formal@none@1@S@Bank of Montreal said it added 850 million Canadian dollars (US$725.8 million) to its reserves against losses on Third World loans, bringing the total it has set aside this year to C$1 billion.@@@@1@33@@oe@2-2-2013
21181002@unknown@formal@none@1@S@The bank said the C$1 billion in reserves will result in a charge of C$595 million against earnings but said it still expects to report a profit for the year ending Tuesday.@@@@1@32@@oe@2-2-2013
21181003@unknown@formal@none@1@S@The bank reported net income of C$389 million for the nine months ended July 31.@@@@1@15@@oe@2-2-2013
21181004@unknown@formal@none@1@S@The bank said the increase in loan-loss provisions won't affect the payment of dividends.@@@@1@14@@oe@2-2-2013
21181005@unknown@formal@none@1@S@The bank said reserves now amount to 61% of its total less-developed-country exposure.@@@@1@13@@oe@2-2-2013
21181006@unknown@formal@none@1@S@Excluding Mexico, reserves equal 95% of LDC exposure.@@@@1@8@@oe@2-2-2013
21181007@unknown@formal@none@1@S@In Toronto Stock Exchange trading, Bank of Montreal closed at C$33.25, up 87.5 Canadian cents.@@@@1@15@@oe@2-2-2013
21182001@unknown@formal@none@1@S@Knight-Ridder Inc. said third-quarter earnings jumped 18%, partly because of the sale of two of its media properties.@@@@1@18@@oe@2-2-2013
21182002@unknown@formal@none@1@S@The media concern said net income rose to $37.8 million, or 72 cents a share, from $32 million, or 57 cents a share, in the year-earlier period.@@@@1@27@@oe@2-2-2013
21182003@unknown@formal@none@1@S@The latest results include a gain of $4.2 million, or eight cents a share, on the sale of television stations in Oklahoma City and Flint, Mich.@@@@1@26@@oe@2-2-2013
21182004@unknown@formal@none@1@S@Revenue increased 7.5% to $540.9 million from $503.1 million.@@@@1@9@@oe@2-2-2013
21182005@unknown@formal@none@1@S@Robert F. Singleton, Knight-Ridder's chief financial officer, said the company was "pleased" with its overall performance, despite only single-digit growth in newspaper revenue.@@@@1@23@@oe@2-2-2013
21182006@unknown@formal@none@1@S@That division's revenue rose 2.3% to $472.5 million from $461.9 million in the year-ago period.@@@@1@15@@oe@2-2-2013
21182007@unknown@formal@none@1@S@Gains in advertising revenue, however, resulted in operating profit of $78.4 million -- up 20% from $65.6 million.@@@@1@18@@oe@2-2-2013
21182008@unknown@formal@none@1@S@In New York Stock Exchange composite trading, Knight Ridder closed at $51.50 a share, down 12.5 cents.@@@@1@17@@oe@2-2-2013
21183001@unknown@formal@none@1@S@ALBERTA ENERGY Co., Calgary, said it filed a preliminary prospectus for an offering of common shares.@@@@1@16@@oe@2-2-2013
21183002@unknown@formal@none@1@S@The natural resources development concern said proceeds will be used to repay long-term debt, which stood at 598 million Canadian dollars (US$510.6 million) at the end of 1988.@@@@1@28@@oe@2-2-2013
21183003@unknown@formal@none@1@S@The company plans to raise between C$75 million and C$100 million from the offering, according to a spokeswoman at Richardson Greenshields of Canada Ltd., lead underwriter.@@@@1@26@@oe@2-2-2013
21183004@unknown@formal@none@1@S@The shares will be priced in early November, she said.@@@@1@10@@oe@2-2-2013
21184001@unknown@formal@none@1@S@General Electric Co. executives and lawyers provided "misleading and false" information to the Pentagon in 1985 in an effort to cover up "longstanding fraudulent" billing practices, federal prosecutors alleged in legal briefs.@@@@1@32@@oe@2-2-2013
21184002@unknown@formal@none@1@S@The government's startling allegations, filed only days before the scheduled start of a criminal overcharge trial against GE in Philadelphia federal district court, challenge the motives and veracity of the nation's third-largest defense contractor.@@@@1@34@@oe@2-2-2013
21184003@unknown@formal@none@1@S@In a strongly worded response summarizing a filing made in the same court yesterday, GE asserted that "prosecutors have misstated the testimony of witnesses, distorted documents and ignored important facts."@@@@1@30@@oe@2-2-2013
21184004@unknown@formal@none@1@S@The company attacked the government's allegations as "reckless and baseless mudslinging," and said its management "promptly and accurately reported" to the Pentagon all relevant information about billing practices.@@@@1@28@@oe@2-2-2013
21184005@unknown@formal@none@1@S@The case strikes at the corporate image of GE, which provides the military with everything from jet engines and electronic warfare equipment to highly classified design work on the Strategic Defense Initiative, and could cause a loss of future defense contracts if Pentagon and Justice Department officials take a tough stance.@@@@1@51@@oe@2-2-2013
21184006@unknown@formal@none@1@S@The company has been considered an industry leader in advocating cooperation and voluntary disclosures of improper or inflated billing practices.@@@@1@20@@oe@2-2-2013
21184007@unknown@formal@none@1@S@But the government now claims that a group of company managers and lawyers engaged in an elaborate strategy over five years to obscure from federal authorities the extent and details of "widespread" fraudulent billing practices.@@@@1@35@@oe@2-2-2013
21184008@unknown@formal@none@1@S@The problems were uncovered during a series of internal investigations of the company's Space Systems division, which has been the focus of two separate overcharge prosecutions by the government since 1985.@@@@1@31@@oe@2-2-2013
21184009@unknown@formal@none@1@S@The dispute stems from pretrial maneuvering in the pending court case, in which prosecutors have been demanding access to a host of internal company memos, reports and documents.@@@@1@28@@oe@2-2-2013
21184010@unknown@formal@none@1@S@Last November, a federal grand jury indicted GE on charges of fraud and false claims in connection with an alleged scheme to defraud the Army of $21 million on a logistics computer contract.@@@@1@33@@oe@2-2-2013
21184011@unknown@formal@none@1@S@The company, for its part, maintains that many of the disputed documents are privileged attorney-client communications that shouldn't be turned over to prosecutors.@@@@1@23@@oe@2-2-2013
21184012@unknown@formal@none@1@S@A hearing is scheduled on the issue today.@@@@1@8@@oe@2-2-2013
21184013@unknown@formal@none@1@S@The government's 136-page filing covers events leading up to the current case and an earlier indictment in March 1985, when GE was accused of defrauding the Pentagon by illegally claiming cost overruns on Minuteman missile contracts.@@@@1@36@@oe@2-2-2013
21184014@unknown@formal@none@1@S@GE pleaded guilty and paid a fine of more than $1 million in the Minuteman case, which involved some of the same individuals and operations that are at the center of the dispute in the Philadelphia court.@@@@1@37@@oe@2-2-2013
21184015@unknown@formal@none@1@S@In order to show that all of its units had corrected billing problems and therefore should become eligible again for new contracts, prosecutors contend that "high-level GE executives" and company lawyers provided "misleading statements" to then-Air Force Secretary Verne Orr and other Pentagon officials during a series of meetings in 1985.@@@@1@51@@oe@2-2-2013
21184016@unknown@formal@none@1@S@Overall, the government contends that GE's disclosure efforts largely were intended to "curry favor" with Pentagon officials without detailing the extent of the management lapses and allegedly pervasive billing irregularities uncovered by company investigations.@@@@1@34@@oe@2-2-2013
21184017@unknown@formal@none@1@S@Prosecutors depict a company that allegedly sat on damaging evidence of overcharges from 1983 to 1985, despite warnings from an internal auditor.@@@@1@22@@oe@2-2-2013
21184018@unknown@formal@none@1@S@When GE finally disclosed the problems, prosecutors contend that Mr. Orr "was erroneously informed that the {suspected} practices had only just been discovered" by GE management.@@@@1@26@@oe@2-2-2013
21184019@unknown@formal@none@1@S@In its brief, the government asserted that it needs the internal GE documents to rebut anticipated efforts by GE during the trial to demonstrate "its good corporate character."@@@@1@28@@oe@2-2-2013
21184020@unknown@formal@none@1@S@GE, which was surprised by the last-minute subpoena for more than 100 boxes and file cabinets of documents, countered that senior GE managers didn't find out about questionable billing practices until 1985, and that the information was passed on quickly to Mr. Orr at his first meeting with company representatives.@@@@1@50@@oe@2-2-2013
21184021@unknown@formal@none@1@S@Subsequent meetings, initiated after the company and two of its units were briefly suspended from federal contracts, were held to familiarize Mr. Orr with the company's self-policing procedures and to disclose additional information, according to GE.@@@@1@36@@oe@2-2-2013
21184022@unknown@formal@none@1@S@GE's filing contends that the billing practices at the heart of the current controversy involved technical disputes rather than criminal activity.@@@@1@21@@oe@2-2-2013
21184023@unknown@formal@none@1@S@The company's conduct "does not even raise a question of wrongful corporate intent, ratification or cover-up," GE's brief asserts.@@@@1@19@@oe@2-2-2013
21184024@unknown@formal@none@1@S@"On the contrary, it shows a corporation reacting swiftly and aggressively to very difficult issues in largely uncharted waters."@@@@1@19@@oe@2-2-2013
21184025@unknown@formal@none@1@S@Mr. Orr couldn't be reached for comment yesterday.@@@@1@8@@oe@2-2-2013
21185001@unknown@formal@none@1@S@Applied Solar Energy Corp. of City of Industry, Calif., said it and its majority shareholder, American Cyanamid Co., signed a non-binding letter of intent for the acquisition of Applied Solar by McDonnell Douglas Corp. for about $38 million.@@@@1@38@@oe@2-2-2013
21185002@unknown@formal@none@1@S@The proposed acquisition provides for a cash payment of $10 a share at closing and a contingent payment of as much as 80 cents a share placed in escrow.@@@@1@29@@oe@2-2-2013
21185003@unknown@formal@none@1@S@Details of the escrow agreement haven't been completed, the companies said.@@@@1@11@@oe@2-2-2013
21185004@unknown@formal@none@1@S@There are 3.5 million shares of Applied Solar, of which American Cyanamid owns 2.7 million.@@@@1@15@@oe@2-2-2013
21185005@unknown@formal@none@1@S@American Cyanamid is a Wayne, N.J., chemicals, drugs and fertilizer concern.@@@@1@11@@oe@2-2-2013
21185006@unknown@formal@none@1@S@Completion of the acquisition is subject to execution of a definitive agreement, approval by all three companies' boards and the approval of Applied Solar's shareholders.@@@@1@25@@oe@2-2-2013
21185007@unknown@formal@none@1@S@An Applied Solar spokesman said completion is expected at the end of the year or early next year.@@@@1@18@@oe@2-2-2013
21185008@unknown@formal@none@1@S@A spokeswoman for the St. Louis aerospace and defense concern said it wanted the acquistion because Applied Solar is involved in solar cells and solid-state laser components, and this fits with McDonnell's business of laser applications for military space.@@@@1@39@@oe@2-2-2013
21186001@unknown@formal@none@1@S@Trading in Cineplex Odeon Corp. shares was halted on the New York and Toronto stock exchanges late yesterday afternoon at the company's request, Toronto Stock Exchange officials said.@@@@1@28@@oe@2-2-2013
21186002@unknown@formal@none@1@S@Brian Hemming, a spokesman for the company's committee of independent directors, established in May to solicit and evaluate offers for the company, said it was expected to make an announcement early this morning.@@@@1@33@@oe@2-2-2013
21186003@unknown@formal@none@1@S@But Mr. Hemming said he wasn't aware of the nature of the talks under way between committee members and their advisers.@@@@1@21@@oe@2-2-2013
21186004@unknown@formal@none@1@S@Cineplex traded on the New York Stock Exchange at $11.25 a share, up $1.125, before trading was halted.@@@@1@18@@oe@2-2-2013
21186005@unknown@formal@none@1@S@Analysts have speculated in recent days that the value of offers received by the committee fell well short of what they had hoped, or even that the company's chairman, president and chief executive officer, Garth Drabinsky, is the only bidder for the company as a whole.@@@@1@46@@oe@2-2-2013
21186006@unknown@formal@none@1@S@The current effort to auction off the company was triggered by a dispute between Mr. Drabinsky and the Toronto-based movie chain's major shareholder, MCA Inc.@@@@1@25@@oe@2-2-2013
21187001@unknown@formal@none@1@S@London share prices closed sharply lower Tuesday on the back of Wall Street's steep drop and renewed fears over U.K. economic fundamentals.@@@@1@22@@oe@2-2-2013
21187002@unknown@formal@none@1@S@Tokyo's winning streak came to an end, and stocks fell in Frankfurt and across Europe as well.@@@@1@17@@oe@2-2-2013
21187003@unknown@formal@none@1@S@London's Financial Times 100-share index shed 40.4 points to finish at 2149.3.@@@@1@12@@oe@2-2-2013
21187004@unknown@formal@none@1@S@At London's close, the Dow Jones Industrial Average was 51.23 points lower at 2611.68.@@@@1@14@@oe@2-2-2013
21187005@unknown@formal@none@1@S@Dealers said the initial pressure came from mildly disappointing U.K. trade figures for September and a worrisome report by the Confederation of British Industry that a decline in orders for manufactured goods is depressing both business optimism and investment plans for the coming year.@@@@1@44@@oe@2-2-2013
21187006@unknown@formal@none@1@S@The trade and CBI reports refocused attention on high interest rates and corporate profitability and helped rekindle underlying concerns over prospects for a recession in the U.K., dealers said.@@@@1@29@@oe@2-2-2013
21187007@unknown@formal@none@1@S@The 30-share index fell 33.3 points to 1739.3.@@@@1@8@@oe@2-2-2013