21946020@unknown@formal@none@1@S@The two that remain haven't yet reached the pre-trial fact-finding stage.@@@@1@11@@oe@2-2-2013
21946021@unknown@formal@none@1@S@State officials said the court's ruling clears the way for proceedings to condemn buildings in the area.@@@@1@17@@oe@2-2-2013
21946022@unknown@formal@none@1@S@"This project is ready to move," said State Urban Development Corp. Chairman Vincent Tese.@@@@1@14@@oe@2-2-2013
21946023@unknown@formal@none@1@S@But developers of four planned office towers cautioned that obstacles still remain.@@@@1@12@@oe@2-2-2013
21946024@unknown@formal@none@1@S@As part of the agreement with the state, the developers -- a partnership of Park Tower Realty and Prudential Insurance Co. of America -- said they would not proceed with condemnation proceedings while there was "significant litigation" pending.@@@@1@38@@oe@2-2-2013
21946025@unknown@formal@none@1@S@Park Tower General Counsel Matthew Mayer said the development team will have to review two additional lawsuits before putting up a $155 million letter of credit to cover condemnation costs.@@@@1@30@@oe@2-2-2013
21946026@unknown@formal@none@1@S@Also, he said, the partnership is waiting to see whether the appellate division's ruling will be appealed.@@@@1@17@@oe@2-2-2013
21946027@unknown@formal@none@1@S@The plan, which has been plagued with delays and business-related setbacks, seeks to transform the area from a seedy thoroughfare to a more wholesome office and theater district.@@@@1@28@@oe@2-2-2013
21946028@unknown@formal@none@1@S@State and city officials are still negotiating with developers to renovate historic theaters and build and operate a merchandise mart and hotel.@@@@1@22@@oe@2-2-2013
21946029@unknown@formal@none@1@S@FEDERAL JUDGE EXPANDS role of U.S. courts in extradition decisions.@@@@1@10@@oe@2-2-2013
21946030@unknown@formal@none@1@S@U.S. District Judge Jack B. Weinstein of Brooklyn, N.Y., ruled that a man implicated in an attack on an Israeli passenger bus in 1986 can be extradited to Israel for trial.@@@@1@31@@oe@2-2-2013
21946031@unknown@formal@none@1@S@A magistrate had initially refused the request, ruling that the attack had been a political act for which the man, Mahmoud El-Abed Ahmad, would be exempt from extradition.@@@@1@28@@oe@2-2-2013
21946032@unknown@formal@none@1@S@However, Judge Weinstein wrote in his opinion late last month that terrorism and acts of war against civilians cannot be defined as political acts.@@@@1@24@@oe@2-2-2013
21946033@unknown@formal@none@1@S@Judge Weinstein also ruled that judges must consider prior to extradition whether the defendant will be treated fairly in a foreign court.@@@@1@22@@oe@2-2-2013
21946034@unknown@formal@none@1@S@To do so, the judge said, the U.S. courts must review the judicial process in the foreign country independently of the State Department's assessment.@@@@1@24@@oe@2-2-2013
21946035@unknown@formal@none@1@S@He said that in this case he concurred with the State Department's decision that Mr. Ahmad should be extradited.@@@@1@19@@oe@2-2-2013
21946036@unknown@formal@none@1@S@Mr. Ahmad's lawyer said he would appeal.@@@@1@7@@oe@2-2-2013
21946037@unknown@formal@none@1@S@Lawyers close to the case said they believed the ruling was unprecedented.@@@@1@12@@oe@2-2-2013
21946038@unknown@formal@none@1@S@"Up until now the courts have said it is not their role to supervise the foreign country's courts," said Jacques Semmelman, the assistant U.S. attorney on the case.@@@@1@28@@oe@2-2-2013
21946039@unknown@formal@none@1@S@FORMER CANADIAN AMBASSADOR to the U.S. Allan E. Gotlieb has joined the Philadelphia law firm of Pepper, Hamilton & Scheetz as a consultant.@@@@1@23@@oe@2-2-2013
21946040@unknown@formal@none@1@S@Mr. Gotlieb, who serves as a consultant to Stikeman, Elliott, one of Canada's biggest law firms, is advising Pepper Hamilton's Washington office on legal matters related to Canadian-U.S. investment, corporate finance and international transactions.@@@@1@34@@oe@2-2-2013
21946041@unknown@formal@none@1@S@QUOTABLE:@@@@1@1@@oe@2-2-2013
21946042@unknown@formal@none@1@S@In a speech prepared for delivery in New York yesterday, retired Justice Lewis Powell contested the notion that the last Supreme Court term marked a turn toward conservatism: "Commentators who agreed on little else unanimously proclaimed a `shift in direction' on the court. . . .@@@@1@46@@oe@2-2-2013
21946043@unknown@formal@none@1@S@I take these pronouncements, like many that have preceded them in past years, with a grain of salt.@@@@1@18@@oe@2-2-2013
21946044@unknown@formal@none@1@S@In an era of `sound bites' and instant opinion polls it is dangerous to apply broad labels to a single term.@@@@1@21@@oe@2-2-2013
21947001@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
21947002@unknown@formal@none@1@S@THE YOM KIPPUR WAR, WHEN EGYPT CRASHED into Israel on Oct. 6, 1973, the holiest day in the Jewish calendar, lasted barely a month.@@@@1@24@@oe@2-2-2013
21947003@unknown@formal@none@1@S@But one far-afield effect is still with us.@@@@1@8@@oe@2-2-2013
21947004@unknown@formal@none@1@S@The Arab states, always bitterly resentful of U.S. support toward Israel, realized they held an irresistable weapon -- oil.@@@@1@19@@oe@2-2-2013
21947005@unknown@formal@none@1@S@Early in October, six Arab nations in the Persian Gulf jacked up prices sharply.@@@@1@14@@oe@2-2-2013
21947006@unknown@formal@none@1@S@On Oct. 22, led by Saudi Arabia, the world's largest exporter, they embargoed oil shipments to the U.S. and to the Netherlands, Israel's staunchest European ally.@@@@1@26@@oe@2-2-2013
21947007@unknown@formal@none@1@S@The timing was perfect.@@@@1@4@@oe@2-2-2013
21947008@unknown@formal@none@1@S@The Arabs had tried embargos before.@@@@1@6@@oe@2-2-2013
21947009@unknown@formal@none@1@S@In 1956, when Britain, France and Israel invaded Egypt to seize the Suez Canal, Arab producers cut off supplies to Europe.@@@@1@21@@oe@2-2-2013
21947010@unknown@formal@none@1@S@Texas simply pumped harder.@@@@1@4@@oe@2-2-2013
21947011@unknown@formal@none@1@S@U.S. oil supplies, however, had peaked in 1970 and 1971 and by 1973 were declining.@@@@1@15@@oe@2-2-2013
21947012@unknown@formal@none@1@S@Imports, then six million barrels a day, came primarily from Venezuela and Canada.@@@@1@13@@oe@2-2-2013
21947013@unknown@formal@none@1@S@But Middle East supplies were growing in importance.@@@@1@8@@oe@2-2-2013
21947014@unknown@formal@none@1@S@By 1973, the U.S. was bringing in two million barrels of Arab oil a day, more than 10% of the 17.3 million barrels consumed daily.@@@@1@25@@oe@2-2-2013
21947015@unknown@formal@none@1@S@Politics and economics conspired.@@@@1@4@@oe@2-2-2013
21947016@unknown@formal@none@1@S@Japan and Europe, far more dependent on Mideast oil than the U.S., wouldn't offend the Arabs or trade off their precious supplies.@@@@1@22@@oe@2-2-2013
21947017@unknown@formal@none@1@S@The U.S. did manage to supply the Dutch with oil by relabeling supplies; once oil is shipped, no one can tell its source.@@@@1@23@@oe@2-2-2013
21947018@unknown@formal@none@1@S@But car-happy Americans panicked, and so did the U.S. and other oil-consuming governments.@@@@1@13@@oe@2-2-2013
21947019@unknown@formal@none@1@S@"Shortage" and "crisis" became buzz words, although neither really applied.@@@@1@10@@oe@2-2-2013
21947020@unknown@formal@none@1@S@The spot dislocations that showed up were largely the result of confusion (much of it in Washington), though that was cold comfort for drivers waiting in mile-long lines at the gas pumps.@@@@1@32@@oe@2-2-2013
21947021@unknown@formal@none@1@S@The embargo lasted only six months, but the price hikes became a fact of life.@@@@1@15@@oe@2-2-2013
21947022@unknown@formal@none@1@S@What the Arabs started, inflation finished.@@@@1@6@@oe@2-2-2013
21947023@unknown@formal@none@1@S@Once and for all, $5-a-barrel crude oil and 35-cents-a-gallon gasoline were history.@@@@1@12@@oe@2-2-2013
21948001@unknown@formal@none@1@S@Times may be tough on Wall Street for some, but a few bosses are making as much as ever -- or more.@@@@1@22@@oe@2-2-2013
21948002@unknown@formal@none@1@S@At Bear Stearns Cos., for example, the 15 executive officers led by Chairman Alan "Ace" Greenberg got a pay increase to $35.9 million for the 14-month period ended June 30 from $22.9 million for the 12 months ended April 30, 1988.@@@@1@41@@oe@2-2-2013
21948003@unknown@formal@none@1@S@The figures don't include substantial dividends on holdings of Bear Stearns stock.@@@@1@12@@oe@2-2-2013
21948004@unknown@formal@none@1@S@Mr. Greenberg himself was paid $4.5 million, before an estimated $1.5 million in dividends, up from $2.4 million the year before.@@@@1@21@@oe@2-2-2013
21948005@unknown@formal@none@1@S@The increase is noted in the brokerage firm's latest proxy statement filed with the Securities and Exchange Commission.@@@@1@18@@oe@2-2-2013
21948006@unknown@formal@none@1@S@Because it operates on a fiscal year, Bear Stearns's yearly filings are available much earlier than those of other firms.@@@@1@20@@oe@2-2-2013
21948007@unknown@formal@none@1@S@The latest period includes 14 months instead of 12 because Bear Stearns changed to a fiscal year ending in June instead of April.@@@@1@23@@oe@2-2-2013
21948008@unknown@formal@none@1@S@Meanwhile, Bear Stearns's 650 stock and bond salesmen saw thinner paychecks over the past year, which the company says reflected lower commission revenue caused by a decline in investor activity in the markets.@@@@1@33@@oe@2-2-2013
21948009@unknown@formal@none@1@S@However, Bear Stearns on Monday reported improved earnings for its first quarter, ended Sept. 29, partly because of a 31% increase in commissions during the quarter.@@@@1@26@@oe@2-2-2013
21948010@unknown@formal@none@1@S@William J. Montgoris, chief financial officer, defended the lofty salaries at Bear Stearns.@@@@1@13@@oe@2-2-2013
21948011@unknown@formal@none@1@S@"All of us are on a base salary of $200,000 if the firm makes nothing -- and that's pretty low as far as Wall Street goes," Mr. Montgoris said.@@@@1@29@@oe@2-2-2013
21948012@unknown@formal@none@1@S@However, Bear Stearns has never had an unprofitable year since its founding 65 years ago.@@@@1@15@@oe@2-2-2013
21948013@unknown@formal@none@1@S@Four Bear Stearns executives besides the 62-year-old Mr. Greenberg were paid $3 million or more before dividends for the 14 months ended in June.@@@@1@24@@oe@2-2-2013
21948014@unknown@formal@none@1@S@According to the proxy statement, James E. Cayne, 55, Bear Stearns's president, made $3.9 million; an executive vice president, Michael L. Tarnopol, 53, made nearly $3.4 million; and two executive vice presidents, Vincent J. Mattone, 44, and William J. Michaelcheck, 42, made about $3.3 million each.@@@@1@46@@oe@2-2-2013
21948015@unknown@formal@none@1@S@Mr. Montgoris said the firm has a "straight mathematical formula" for determining compensation, based on the firm's earnings.@@@@1@18@@oe@2-2-2013
21948016@unknown@formal@none@1@S@"Just because a particular element of the firm is down," such as stockbrokerage, "doesn't mean the executive committee should be paid less," he said.@@@@1@24@@oe@2-2-2013
21949001@unknown@formal@none@1@S@Morgan Grenfell Group PLC said John Craven, group chief executive officer, is taking over the chairmanship of the merchant banking group from Sir Peter Carey, who is retiring.@@@@1@28@@oe@2-2-2013
21949002@unknown@formal@none@1@S@Mr. Carey will remain a member of the merchant bank's board.@@@@1@11@@oe@2-2-2013
21949003@unknown@formal@none@1@S@Mr. Craven is widely credited with refocusing Morgan Grenfell's energies on its core corporate finance, fund management and banking activities over the past year.@@@@1@24@@oe@2-2-2013
21949004@unknown@formal@none@1@S@Last year, Morgan Grenfell shut down its ailing U.K. securities operations.@@@@1@11@@oe@2-2-2013
21949005@unknown@formal@none@1@S@Mr. Craven said his move to the chairmanship means he will take a less active role in the day-to-day management of the group, but he added that the merchant bank's strategic focus remains unchanged.@@@@1@34@@oe@2-2-2013
21949006@unknown@formal@none@1@S@Mr. Craven joined Morgan Grenfell as group chief executive in May 1987, a few months after the resignations of former Chief Executive Christopher Reeves and other top officials because of the merchant bank's role in Guinness PLC's controversial takeover of Distiller's Co. in 1986.@@@@1@44@@oe@2-2-2013
21949007@unknown@formal@none@1@S@Morgan Grenfell had advised Guinness on the bid, which was surrounded by allegations that Guinness used artificial means to support the bid's value.@@@@1@23@@oe@2-2-2013
21949008@unknown@formal@none@1@S@Morgan Grenfell said Michael Dobson, currently group deputy chief executive, will assume the chief executive position.@@@@1@16@@oe@2-2-2013
21949009@unknown@formal@none@1@S@The merchant bank also announced that finance director David Eward is taking early retirement for personal reasons.@@@@1@17@@oe@2-2-2013
21949010@unknown@formal@none@1@S@His duties will be taken over by Anthony Richmond-Watson, who has been elected deputy chairman.@@@@1@15@@oe@2-2-2013
21949011@unknown@formal@none@1@S@News of Mr. Eward's retirement comes one day after Morgan said that Christopher Whittington resigned as chairman of Morgan's banking subsidiary to join a financial services firm.@@@@1@27@@oe@2-2-2013
21949012@unknown@formal@none@1@S@Mr. Craven said both Messrs. Eward and Whittington had planned to leave the bank earlier, but Mr. Craven had persuaded them to remain until the bank was in a healthy position.@@@@1@31@@oe@2-2-2013
21949013@unknown@formal@none@1@S@"If there's any coincidence about the departures it's that they are leaving at a time when the business is in reasonably good shape and going forward very well."@@@@1@28@@oe@2-2-2013
21949014@unknown@formal@none@1@S@Last month, Morgan Grenfell announced its pretax profit rose 49.6% to #32.8 million in the first half, boosted by a healthy growth in its domestic and international corporate finance business.@@@@1@30@@oe@2-2-2013
21950001@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
21950002@unknown@formal@none@1@S@Lockheed Corp. -- $300 million of 9 3/8% notes due Oct. 15, 1999, priced at 99.90 to yield 9.39%.@@@@1@19@@oe@2-2-2013
21950003@unknown@formal@none@1@S@The issue was priced at a spread of 137.5 basis points above the Treasury's 10-year note.@@@@1@16@@oe@2-2-2013
21950004@unknown@formal@none@1@S@Rated single-A-3 by Moody's Investors Service Inc. and single-A by Standard & Poor's Corp., the issue will be sold through underwriters led by Goldman, Sachs & Co.@@@@1@27@@oe@2-2-2013
21950005@unknown@formal@none@1@S@California Health Facilities Financing Authority -- $144.35 million of revenue bonds for Kaiser Permanente, due 19931999, 2004, 2008, 2018 and 2019, tentatively priced by a PaineWebber Inc. group to yield from 6.25% in 1993 to 7.227% in 2018.@@@@1@38@@oe@2-2-2013
21950006@unknown@formal@none@1@S@Serial bonds were priced to yield to 6.80% in 1999.@@@@1@10@@oe@2-2-2013
21950007@unknown@formal@none@1@S@There are about $10 million of 7% bonds priced at 99 1/4 to yield 7.081% in 2004; about $15 million of 7% bonds priced at 98 1/2 to yield 7.145% in 2008; about $88.35 million of 7% bonds priced at 97 1/4 to yield 7.227% in 2018; and about $15 million of 6 3/4% bonds priced to yield 7.15% in 2019.@@@@1@61@@oe@2-2-2013
21950008@unknown@formal@none@1@S@The bonds are rated double-A-2 by Moody's and double-A by S&P, according to the lead underwriter.@@@@1@16@@oe@2-2-2013
21950009@unknown@formal@none@1@S@Pennsylvania Higher Education Facilities Authority -- approximately $117 million of revenue bonds for Hahnemann University, Series 1989, due 1990-2002, 2009 and 2019, priced late Monday by a Merrill Lynch Capital Markets group to yield from 6% in 1990 to 7.282% in 2019.@@@@1@42@@oe@2-2-2013
21950010@unknown@formal@none@1@S@Serial bonds were priced to yield from 6% in 1990 to 7.10% in 2002.@@@@1@14@@oe@2-2-2013
21950011@unknown@formal@none@1@S@There are about $25.6 million of 7.2% term bonds due 2009, priced to yield 7.25%, and about $66.8 million of 7.2% term bonds due 2019, priced at 99 to yield 7.282%.@@@@1@31@@oe@2-2-2013
21950012@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
21950013@unknown@formal@none@1@S@Connecticut -- $100.4 million of general obligation capital appreciation bonds, College Savings Plan, 1989 Series B, priced by a Prudential-Bache Capital Funding group.@@@@1@23@@oe@2-2-2013
21950014@unknown@formal@none@1@S@The zero-coupon bonds were priced to yield to maturity from 6.25% in 1994 to 6.90% in 2006, 2007 and 2009.@@@@1@20@@oe@2-2-2013
21950015@unknown@formal@none@1@S@The bonds have received a rating of double-A-1 from Moody's, and a double-A-plus rating is expected from S&P, the underwriter said.@@@@1@21@@oe@2-2-2013
21950016@unknown@formal@none@1@S@Oregon -- $100 million of general obligation veterans' tax notes, Series 1989, dated Nov. 1, 1989, and due Nov. 1, 1990, through a Chemical Securities Inc. group.@@@@1@27@@oe@2-2-2013
21950017@unknown@formal@none@1@S@The group is offering the notes priced as 6 3/4% securities to yield 6.25%.@@@@1@14@@oe@2-2-2013
21950018@unknown@formal@none@1@S@The notes are rated MIG-1 by Moody's and SP1-plus by S&P.@@@@1@11@@oe@2-2-2013
21950019@unknown@formal@none@1@S@University of Medicine and Dentistry of New Jersey -- $55.8 million of Series C bonds priced by a Prudential-Bache Capital Funding group.@@@@1@22@@oe@2-2-2013
21950020@unknown@formal@none@1@S@The bonds, rated single-A by Moody's and double-A by S&P, were priced to yield from 6.20% in 1992 to 7.26% in 2019.@@@@1@22@@oe@2-2-2013
21950021@unknown@formal@none@1@S@All serial bonds are being offered at par except those due 2002.@@@@1@12@@oe@2-2-2013
21950022@unknown@formal@none@1@S@Federal Home Loan Mortgage Corp. -- $500 million of Remic mortgage securities being offered in eight classes by Salomon Brothers Inc.@@@@1@21@@oe@2-2-2013
21950023@unknown@formal@none@1@S@The offering, Series 104, is backed by Freddie Mac 9% securities.@@@@1@11@@oe@2-2-2013
21950024@unknown@formal@none@1@S@The issue used at-market pricing.@@@@1@5@@oe@2-2-2013
21950025@unknown@formal@none@1@S@Federal National Mortgage Association -- $350 million of Remic mortgage securities being offered in 11 classes by Greenwich Capital Markets.@@@@1@20@@oe@2-2-2013
21950026@unknown@formal@none@1@S@The offering, Series 1989-82, is backed by Fannie Mae 9 1/2% securities and used at-market pricing.@@@@1@16@@oe@2-2-2013
21950027@unknown@formal@none@1@S@The issue brings Fannie Mae's 1989 Remic issuance to $30.2 billion and its total volume to $42.3 billion since the program began in April 1987.@@@@1@25@@oe@2-2-2013
21950028@unknown@formal@none@1@S@Hanshin Electric Railway Co. (Japan) -- $150 million of bonds due Nov. 2, 1993, with equity-purchase warrants, indicating a 4% coupon at par, via Nomura International Ltd.@@@@1@27@@oe@2-2-2013
21950029@unknown@formal@none@1@S@Each $5,000 bond carries one warrant, exercisable from Nov. 16, 1989, through Oct. 19, 1993, to buy company shares at an expected premium of 2 1/2% to the closing share price when terms are fixed Oct. 24.@@@@1@37@@oe@2-2-2013
21950030@unknown@formal@none@1@S@Toyobo Co. (Japan) -- $150 million of bonds due Nov. 1, 1993, with equity-purchase warrants, indicating a 4% coupon at par, via Daiwa Europe Ltd.@@@@1@25@@oe@2-2-2013
21950031@unknown@formal@none@1@S@Each $5000 bond carries one warrant, exercisable from Nov. 15, 1989, to Oct. 18, 1993, to buy company shares at an expected premium of 2 1/2% to the closing share price when terms are fixed Oct. 23.@@@@1@37@@oe@2-2-2013
21950032@unknown@formal@none@1@S@Sammi Steel Co. (Korea) -- $50 million of bonds due Nov. 8, 1994, with equity-purchase warrants, indicating a 1 1/4% to 1 3/4% coupon at par, via Merrill Lynch International Ltd. and Dong Suh Securities Co.@@@@1@36@@oe@2-2-2013
21950033@unknown@formal@none@1@S@Each $5,000 bond carries one warrant, exercisable from May 8, 1991, through Oct. 8, 1994, to buy company shares at an expected premium of 75% to 85% to the closing share price when terms are fixed Oct. 18.@@@@1@38@@oe@2-2-2013
21950034@unknown@formal@none@1@S@Redland International Funding PLC (U.K. parent) -- 150 million Australian dollars of 15 3/8% bonds due Nov. 8, 1996, priced at 101 3/4 to yield 15.44% less full fees, via JP Morgan Securities Ltd.@@@@1@34@@oe@2-2-2013
21950035@unknown@formal@none@1@S@Guaranteed by Redland PLC.@@@@1@4@@oe@2-2-2013
21950036@unknown@formal@none@1@S@Fees 2.@@@@1@2@@oe@2-2-2013
21950037@unknown@formal@none@1@S@Tennessee Valley Authority -- A $4 billion, three-part offering of power bonds priced through an underwriting group led by First Boston Corp.@@@@1@22@@oe@2-2-2013
21950038@unknown@formal@none@1@S@The size of the issue was increased from an originally planned $3 billion.@@@@1@13@@oe@2-2-2013
21950039@unknown@formal@none@1@S@The first part, consisting of $2 billion of bonds due Oct. 1, 2019, with a five-year non-call provision, was priced as 8 3/4% securities at 96.808 to yield 9.06%.@@@@1@29@@oe@2-2-2013
21950040@unknown@formal@none@1@S@The 30-year issue was priced at a spread of 105 basis points above the Treasury's 30-year bellwether bond.@@@@1@18@@oe@2-2-2013
21950041@unknown@formal@none@1@S@The second part, consisting of $1 billion of noncallable bonds due Oct. 1, 1999, was priced as 8 3/8% securities at 99.691 to yield 8.42%.@@@@1@25@@oe@2-2-2013
21950042@unknown@formal@none@1@S@The 10-year issue was priced at a spread of 43 basis points above the Treasury's 10-year note.@@@@1@17@@oe@2-2-2013
21950043@unknown@formal@none@1@S@The third part, consisting of $1 billion of noncallable bonds due Oct. 1, 1994, was priced as 8 1/4% securities at 99.672 to yield 8.33%.@@@@1@25@@oe@2-2-2013
21950044@unknown@formal@none@1@S@The five-year issue was priced at a spread of 43 basis points above the Treasury's comparable note.@@@@1@17@@oe@2-2-2013
21950045@unknown@formal@none@1@S@The issue is rated triple-A by Moody's and triple-A by S&P.@@@@1@11@@oe@2-2-2013
21951001@unknown@formal@none@1@S@Par Pharmaceutical Inc. said it named its interim president and chief executive officer, Kenneth I. Sawyer, to those posts permanently, and elected him to the board.@@@@1@26@@oe@2-2-2013
21951002@unknown@formal@none@1@S@Par also said it was advised by the U.S. attorney for Maryland that it is one of a number of companies being investigated by a federal grand jury for alleged violations of the federal Food, Drug and Cosmetic Act.@@@@1@39@@oe@2-2-2013
21951003@unknown@formal@none@1@S@Par, a generic-drug maker that has been plagued by management problems, was already the subject of a federal criminal inquiry into the drug-approval process and a Food and Drug Administration investigation.@@@@1@31@@oe@2-2-2013
21951004@unknown@formal@none@1@S@A Par spokesman said he understood the criminal investigation in Maryland relates to matters Par disclosed in July, when Par said it filed false drug information with the FDA.@@@@1@29@@oe@2-2-2013
21951005@unknown@formal@none@1@S@At the time, the company said it was recalling one of its drugs and had stopped selling two others.@@@@1@19@@oe@2-2-2013
21951006@unknown@formal@none@1@S@The spokesman said he also understood that the inquiry related to the existence of an "off-the-record" production book.@@@@1@18@@oe@2-2-2013
21951007@unknown@formal@none@1@S@The book noted changes made at the manufacturing level that weren't disclosed to the FDA.@@@@1@15@@oe@2-2-2013
21951008@unknown@formal@none@1@S@Par said it is cooperating in the investigation.@@@@1@8@@oe@2-2-2013
21951009@unknown@formal@none@1@S@Also yesterday, Ashok Patel, a former Par official who pleaded guilty to providing an FDA employee an illegal gratuity of $3,000, was sentenced by a federal judge in Baltimore to one year of community service and a $150,000 fine.@@@@1@39@@oe@2-2-2013
21951010@unknown@formal@none@1@S@Mr. Patel also was placed on three years' probation.@@@@1@9@@oe@2-2-2013
21951011@unknown@formal@none@1@S@Mr. Patel resigned as senior vice president of Par in April.@@@@1@11@@oe@2-2-2013
21951012@unknown@formal@none@1@S@In July, Par and a 60%-owned unit agreed to plead guilty in that inquiry, as did another former Par official.@@@@1@20@@oe@2-2-2013
21951013@unknown@formal@none@1@S@Mr. Sawyer began running the company on an interim basis in late September.@@@@1@13@@oe@2-2-2013
21951014@unknown@formal@none@1@S@Par said it selected him for the posts of president and chief executive on a permanent basis because of his experience in the industry and his performance at Par.@@@@1@29@@oe@2-2-2013
21951015@unknown@formal@none@1@S@Perry Levine, chairman, said Mr. Sawyer had "taken significant steps" to restore the company's credibility and sense of professionalism and integrity.@@@@1@21@@oe@2-2-2013
21952001@unknown@formal@none@1@S@Just after midnight Monday, federal spending started to drop by $16 billion.@@@@1@12@@oe@2-2-2013
21952002@unknown@formal@none@1@S@What do you say we all close down the poker game, go home and bank the $16 billion?@@@@1@18@@oe@2-2-2013
21952003@unknown@formal@none@1@S@That's essentially what budget director Richard Darman is suggesting, and we think he deserves as much support as he can get.@@@@1@21@@oe@2-2-2013
21952004@unknown@formal@none@1@S@If human beings can't cut federal spending honestly -- and they can't -- let the computers do it.@@@@1@18@@oe@2-2-2013
21952005@unknown@formal@none@1@S@Congress, with a measure of White House complicity, has been manipulating the spending accounts for years under the cover of omnibus appropriations bills.@@@@1@23@@oe@2-2-2013
21952006@unknown@formal@none@1@S@(Indeed without earlier manipulations, the current sequester of $16 billion would have been even larger.)@@@@1@15@@oe@2-2-2013
21952007@unknown@formal@none@1@S@We suspect voters are fed up with the finagling.@@@@1@9@@oe@2-2-2013
21952008@unknown@formal@none@1@S@Consider, for instance, that even yesterday's widely publicized sequester is likely to be traduced if business as usual is allowed to prevail.@@@@1@22@@oe@2-2-2013
21952009@unknown@formal@none@1@S@Under the law, Gramm-Rudman's across-the-board-cuts in federal programs are supposed to be permanent.@@@@1@13@@oe@2-2-2013
21952010@unknown@formal@none@1@S@Social Security and spending for poor people are exempted.@@@@1@9@@oe@2-2-2013
21952011@unknown@formal@none@1@S@However, the Associated Press's account of the Monday sequester order signed by President Bush neatly captured the contempt Congress shows toward the notion of a legally binding commitment:@@@@1@28@@oe@2-2-2013
21952012@unknown@formal@none@1@S@"Lawmakers have been saying for weeks that they plan to roll back the cuts as soon as they agree to a compromise on a deficit-cutting bill."@@@@1@26@@oe@2-2-2013
21952013@unknown@formal@none@1@S@Mr. Darman's inclination to save the sequester was backed up yesterday by White House Press Secretary Marlin Fitzwater:@@@@1@18@@oe@2-2-2013
21952014@unknown@formal@none@1@S@"There is some feeling here that the cuts are the way to go.@@@@1@13@@oe@2-2-2013
21952015@unknown@formal@none@1@S@It will reduce spending in a very effective fashion."@@@@1@9@@oe@2-2-2013
21952016@unknown@formal@none@1@S@This attitude is being waved away by sophisticates around Washington as little more than tough talk.@@@@1@16@@oe@2-2-2013
21952017@unknown@formal@none@1@S@It looks to us like a golden opportunity for George Bush to chop off at the knees all this talk about a timid, unserious presidency.@@@@1@25@@oe@2-2-2013
21952018@unknown@formal@none@1@S@Mr. Bush would be acting in the public interest if he let the Washington elites who manipulate these budgets -- the bureaucrats, the lobbyists, the congressional staffers -- live for just one year on a restricted diet.@@@@1@37@@oe@2-2-2013
21952019@unknown@formal@none@1@S@Ask Tommy Lasorda; thin is in.@@@@1@6@@oe@2-2-2013
21952020@unknown@formal@none@1@S@Senator Phil Gramm pointed out Monday that in the 20 years before Gramm-Rudman was enacted in 1985, federal spending grew by about 11% a year; since the law, it's grown at under 5% annually.@@@@1@34@@oe@2-2-2013
21952021@unknown@formal@none@1@S@Another major factor in this positive trend was Ronald Reagan's decision early in his presidency to fight the budget war on the expenditure side rather than raising taxes.@@@@1@28@@oe@2-2-2013
21952022@unknown@formal@none@1@S@George Bush's continued support of the tax dam sustains this strategy of pressuring Congress to make choices among competing priorities, rather than just saying yes to all the grateful special-interest constituencies that fill the PAC trough.@@@@1@36@@oe@2-2-2013
21952023@unknown@formal@none@1@S@If Washington's elites ever succeed in bursting the tax dam, Americans will be engulfed in a red sea of new spending programs, such as federalized child care.@@@@1@27@@oe@2-2-2013
21952024@unknown@formal@none@1@S@Child care was one of the many "extraneous" bills pulled out of the Senate's reconciliation bill last Friday.@@@@1@18@@oe@2-2-2013
21952025@unknown@formal@none@1@S@Others were the capital-gains cut, Section 89 repeal, the disabled workers bill, and the unprecedented reconsideration of the catastrophic health act.@@@@1@21@@oe@2-2-2013
21952026@unknown@formal@none@1@S@All this stuff still is in the House's 1,878-page reconciliation bill, and many Members say they're reluctant to pull out cherished bills, just to see them die.@@@@1@27@@oe@2-2-2013
21952027@unknown@formal@none@1@S@Republicans especially want a guarantee from the House leadership that they'll get an up-or-down vote on the bills.@@@@1@18@@oe@2-2-2013
21952028@unknown@formal@none@1@S@House Speaker Foley ought to deliver that promise.@@@@1@8@@oe@2-2-2013
21952029@unknown@formal@none@1@S@This is the way government is supposed to work, with politicians taking responsibility for votes that their constituents can identify, instead of concealing them in the great reconciliation garbage truck.@@@@1@30@@oe@2-2-2013
21952030@unknown@formal@none@1@S@We have as much nostalgia as anyone for those leafy, breezy days in Washington when honorable men and women dickered over budgets and even log-rolled a bit to see that the bridges got build, roads paved, soldiers paid or that the desperately poor were cared for.@@@@1@46@@oe@2-2-2013
21952031@unknown@formal@none@1@S@Those days are gone.@@@@1@4@@oe@2-2-2013
21952032@unknown@formal@none@1@S@Nor do we see any reason to believe that a metropolitan Washington that has gotten fat and rich and lazy in the shadow of the federal colossus will change much on its own initiative.@@@@1@34@@oe@2-2-2013
21952033@unknown@formal@none@1@S@Save the sequester, and let Washington scream.@@@@1@7@@oe@2-2-2013
21953001@unknown@formal@none@1@S@The New York Stock Exchange said a seat sold for $436,000, down $39,000 from the previous sale Oct. 4.@@@@1@19@@oe@2-2-2013
21953002@unknown@formal@none@1@S@Seats are currently quoted at $425,000 bid and $475,000 offered.@@@@1@10@@oe@2-2-2013
21953003@unknown@formal@none@1@S@The $475,000 sale price earlier this month was the lowest in nearly three years.@@@@1@14@@oe@2-2-2013
21953004@unknown@formal@none@1@S@Exchange seats hit a peak of $1,150,000 in September 1987.@@@@1@10@@oe@2-2-2013
21954001@unknown@formal@none@1@S@The Canadian government auctioned 750 million Canadian dollars (US$637.5 million) of 9.25% bonds due Dec. 15, 1994.@@@@1@17@@oe@2-2-2013
21954002@unknown@formal@none@1@S@The average accepted yield bid was 9.617% for a price equivalent of 98.523.@@@@1@13@@oe@2-2-2013
21954003@unknown@formal@none@1@S@Proceeds of the sale will be used to redeem C$675 million of government bonds maturing Nov. 1 and for general government purposes.@@@@1@22@@oe@2-2-2013
21955001@unknown@formal@none@1@S@Northern Trust Corp. said its board adopted a shareholder rights plan aimed at deterring unwanted takeover bids, but said it's not aware of any plan to acquire the banking concern.@@@@1@30@@oe@2-2-2013
21955002@unknown@formal@none@1@S@Under Northern Trust's plan, shareholders were issued rights that, in the event of certain attempted takeovers, allow holders to buy shares in the company at half price.@@@@1@27@@oe@2-2-2013
21956001@unknown@formal@none@1@S@National Patent Development Corp. said it plans to purchase as many as 200,000 common shares of its 81%-controlled Interferon Sciences Inc. unit in periodic, open-market purchases.@@@@1@26@@oe@2-2-2013
21956002@unknown@formal@none@1@S@The 200,000 shares are about 23% of Interferon's common shares outstanding, excluding National Patent's stake.@@@@1@15@@oe@2-2-2013
21956003@unknown@formal@none@1@S@Noting the recent Food and Drug Administration approval of Interferon's genital warts treatment, National Patent said it believes Interferon's stock is undervalued.@@@@1@22@@oe@2-2-2013
21957001@unknown@formal@none@1@S@Japanese investors, reassured by Monday's strong rally on Wall Street, erased most of that day's losses on the Tokyo Stock Exchange.@@@@1@21@@oe@2-2-2013
21957002@unknown@formal@none@1@S@But analysts said the rebound didn't remove the cautious mood from the market.@@@@1@13@@oe@2-2-2013
21957003@unknown@formal@none@1@S@In London, stocks closed lower in volatile trading as an opening rally was obliterated by worse-than-expected U.S. trade figures.@@@@1@19@@oe@2-2-2013
21957004@unknown@formal@none@1@S@Paris shares had a similar reaction, but most other European bourses posted gains, as did all major Asian and Pacific stock markets.@@@@1@22@@oe@2-2-2013
21957005@unknown@formal@none@1@S@Tokyo's Nikkei Index of 225 stocks jumped 527.39 points to close at 34996.08.@@@@1@13@@oe@2-2-2013
21957006@unknown@formal@none@1@S@The rise came a day after the year's biggest drop on Monday, when the Nikkei fell 647.33, or 1.8%, in response to Friday's 6.9% plunge on Wall Street.@@@@1@28@@oe@2-2-2013
21957007@unknown@formal@none@1@S@In early trading Wednesday in Tokyo, the Nikkei index rose 19.30 points to 35015.38.@@@@1@14@@oe@2-2-2013
21957008@unknown@formal@none@1@S@On Tuesday, the broader-based Tokyo Stock Price Index of issues listed in the first section, which fell 45.66 Monday, rose 41.76, or 1.61%, to 2642.64.@@@@1@25@@oe@2-2-2013
21957009@unknown@formal@none@1@S@Trading was relatively thin at an estimated 650 million shares, though brisker than Monday's 526 million.@@@@1@16@@oe@2-2-2013
21957010@unknown@formal@none@1@S@Advancing issues outnumbered decliners 821-201, with 103 unchanged.@@@@1@8@@oe@2-2-2013
21957011@unknown@formal@none@1@S@"We're back to square one," said Simon Smithson, an analyst in Japan for Kleinwort Benson International Inc.@@@@1@17@@oe@2-2-2013
21957012@unknown@formal@none@1@S@Japanese domestic institutions, including trust banks and investment management firms, that had been on the sidelines during Monday's fall were back in the market, analysts said.@@@@1@26@@oe@2-2-2013
21957013@unknown@formal@none@1@S@Foreign investors reportedly started off selling but later joined in the buying.@@@@1@12@@oe@2-2-2013
21957014@unknown@formal@none@1@S@The Tokyo rally seemed to confirm the view, frequently expressed in Japan in the past few days, that the drop in New York was a local problem related to merger and acquisition activity in the U.S.@@@@1@36@@oe@2-2-2013
21957015@unknown@formal@none@1@S@"This time we don't really have to worry about Tokyo," said an official at Daiwa Securities Co.@@@@1@17@@oe@2-2-2013
21957016@unknown@formal@none@1@S@"Nothing has changed fundamentally in the Tokyo market."@@@@1@8@@oe@2-2-2013
21957017@unknown@formal@none@1@S@But even though Tokyo appears unharmed by recent market volatility, analysts and traders say there are still a few concerns on the horizon.@@@@1@23@@oe@2-2-2013
21957018@unknown@formal@none@1@S@In particular, Japanese investors will be keeping a wary eye on Wall Street to see whether Monday's 88.12-point rally holds up as fresh U.S. economic data are released.@@@@1@28@@oe@2-2-2013
21957019@unknown@formal@none@1@S@"People are placing small bets.@@@@1@5@@oe@2-2-2013
21957020@unknown@formal@none@1@S@There's no huge buying," said Stephen Hill, head of equity sales at Jardine Fleming Securities Ltd. in Tokyo.@@@@1@18@@oe@2-2-2013
21957021@unknown@formal@none@1@S@"Really brave views right now would be foolhardy."@@@@1@8@@oe@2-2-2013
21957022@unknown@formal@none@1@S@Yesterday's buyers favored real estate, construction and other large-capitalization issues, reflecting the fact that many Tokyo investors now feel safer with domestically oriented stocks, analysts said.@@@@1@26@@oe@2-2-2013
21957023@unknown@formal@none@1@S@They also are concerned about the persistent strength of the dollar against the yen, as a weaker yen leads to higher import prices in Japan and adds to domestic inflationary pressures.@@@@1@31@@oe@2-2-2013
21957024@unknown@formal@none@1@S@Currency concerns also weigh heavily on interest rate-sensitive stocks such as banking and other financial issues because of fears that Japanese interest rates might have to rise to keep the dollar in check.@@@@1@33@@oe@2-2-2013
21957025@unknown@formal@none@1@S@Among steel shares, NKK rose 19 to 705 yen ($4.97) a share, and Nippon Steel gained 17 to 735.@@@@1@19@@oe@2-2-2013
21957026@unknown@formal@none@1@S@Construction shares that gained included Shimizu, which rose 130 to 2,080.@@@@1@11@@oe@2-2-2013
21957027@unknown@formal@none@1@S@In the real estate sector, Mitsui Real Estate Development was up 100 at 2,760, and Mitsubishi Estate gained 80 to 2,360.@@@@1@21@@oe@2-2-2013
21957028@unknown@formal@none@1@S@London's Financial Times-Stock Exchange 100-share index fell 27.9 points to 2135.5.@@@@1@11@@oe@2-2-2013
21957029@unknown@formal@none@1@S@It was down more than 40 points a half-hour before the close, marking a 61.5-point turnaround from its high, reached in the first 15 minutes of trading.@@@@1@27@@oe@2-2-2013
21957030@unknown@formal@none@1@S@The narrower Financial Times 30-share index fell 29.6 to 1730.7.@@@@1@10@@oe@2-2-2013
21957031@unknown@formal@none@1@S@Volume was an active 643.3 million shares, about double the recent levels but down from 959.3 million the previous day, which U.K. traders have dubbed "Manic Monday."@@@@1@27@@oe@2-2-2013
21957032@unknown@formal@none@1@S@Prices opened strongly on the basis of Monday's Wall Street rally and yesterday's gains in Tokyo.@@@@1@16@@oe@2-2-2013
21957033@unknown@formal@none@1@S@But the advance faltered as index-options traders and investors jittery about the U.K. economic outlook took over.@@@@1@17@@oe@2-2-2013
21957034@unknown@formal@none@1@S@The unexpectedly wide U.S. August trade deficit of $10.77 billion hit an already jittery U.K. market in midafternoon.@@@@1@18@@oe@2-2-2013
21957035@unknown@formal@none@1@S@Michael Hicks, who manages sales and trading for brokerage concern Societe Generale Strauss Turnbull, said: "It's a nervous market.@@@@1@19@@oe@2-2-2013
21957036@unknown@formal@none@1@S@It was all over the place.@@@@1@6@@oe@2-2-2013
21957037@unknown@formal@none@1@S@If you bought, you wish you hadn't, and if you sold, you wish you hadn't."@@@@1@15@@oe@2-2-2013
21957038@unknown@formal@none@1@S@He said the current market "is all about sentiment, and the sentiment in London is 90% anxiety and worry."@@@@1@19@@oe@2-2-2013
21957039@unknown@formal@none@1@S@Britain's economic fundamentals, he said, "don't look very bright."@@@@1@9@@oe@2-2-2013
21957040@unknown@formal@none@1@S@Dealers said London showed signs of calming in midafternoon after Wall Street avoided sharp losses despite the trade report, but a wave of futures-related selling later in the session sent buyers back to the sidelines.@@@@1@35@@oe@2-2-2013
21957041@unknown@formal@none@1@S@Still, some sectors found buying interest after being actively sold in recent weeks.@@@@1@13@@oe@2-2-2013
21957042@unknown@formal@none@1@S@Merchant banks were stronger across the board.@@@@1@7@@oe@2-2-2013
21957043@unknown@formal@none@1@S@Morgan Grenfell, which has been mentioned in takeover rumors, rose 20 to 392 pence ($6.18) a share.@@@@1@17@@oe@2-2-2013
21957044@unknown@formal@none@1@S@S.G. Warburg, a rumored target of some European banking concerns, finished 22 higher at 400.@@@@1@15@@oe@2-2-2013
21957045@unknown@formal@none@1@S@Hambros rose 5 to 204, and Schroders rose 25 to #12.75.@@@@1@11@@oe@2-2-2013
21957046@unknown@formal@none@1@S@On the corporate front, Ford Motor announced that it raised its stake in U.K. luxury car maker Jaguar to 10.4% from 5%.@@@@1@22@@oe@2-2-2013
21957047@unknown@formal@none@1@S@Jaguar shares jumped 23 before easing to close at 654, up 6.@@@@1@12@@oe@2-2-2013
21957048@unknown@formal@none@1@S@Amstrad, a British computer hardware and communications equipment maker, eased 4 to 47.@@@@1@13@@oe@2-2-2013
21957049@unknown@formal@none@1@S@It announced a 52% plunge in pretax profit for the latest year.@@@@1@12@@oe@2-2-2013
21957050@unknown@formal@none@1@S@Brewery stocks were firm to higher on talk of early bargain-hunting, but most ended below their peaks.@@@@1@17@@oe@2-2-2013
21957051@unknown@formal@none@1@S@Bass ended up 3 higher at 966, Guinness closed at 589, down 7, and Scottish & Newcastle dropped 11 to 359, but Whitbread Class A shares rose 17 to 363.@@@@1@30@@oe@2-2-2013
21957052@unknown@formal@none@1@S@Dealers said there was late talk of a Whitbread sale of brewing operations to Scottish & Newcastle.@@@@1@17@@oe@2-2-2013
21957053@unknown@formal@none@1@S@The most active shares were major blue-chips, particularly oils and utilities such as British Gas and British Telecommunications.@@@@1@18@@oe@2-2-2013
21957054@unknown@formal@none@1@S@Traders attributed the action in them largely to defensive positioning in a volatile market.@@@@1@14@@oe@2-2-2013
21957055@unknown@formal@none@1@S@British Gas finished at 197, down 2, on 13 million shares, British Petroleum fell 8 to 291 on 9.4 million shares, and British Telecom was 4 lower at 261 on turnover of 10 million shares.@@@@1@35@@oe@2-2-2013
21957056@unknown@formal@none@1@S@Cable & Wireless fell 20 to 478.@@@@1@7@@oe@2-2-2013
21957057@unknown@formal@none@1@S@Also in active trading, British Steel fell 1 to 124 as 20 million shares changed hands.@@@@1@16@@oe@2-2-2013
21957058@unknown@formal@none@1@S@Racal Electric, which traded 11 million shares, declined 12 to 218.@@@@1@11@@oe@2-2-2013
21957059@unknown@formal@none@1@S@In other European markets, share prices closed sharply higher in Frankfurt and Zurich and posted moderate rises in Stockholm, Amsterdam and Milan.@@@@1@22@@oe@2-2-2013
21957060@unknown@formal@none@1@S@Paris closed lower, and most Brussels shares were unable to trade for a second consecutive day because of technical problems.@@@@1@20@@oe@2-2-2013
21957061@unknown@formal@none@1@S@South African gold stocks closed higher.@@@@1@6@@oe@2-2-2013
21957062@unknown@formal@none@1@S@Elsewhere, share prices rebounded in Hong Kong, Sydney, Singapore, Wellington, Taipei, Manila and Seoul.@@@@1@14@@oe@2-2-2013
21957063@unknown@formal@none@1@S@In Hong Kong, Sydney and Singapore -- the largest of those exchanges -- stocks recovered one-third to one-half of the ground they lost in Monday's plunge, with major market indexes posting gains of 3.6% to 4.4%.@@@@1@36@@oe@2-2-2013
21957064@unknown@formal@none@1@S@Here are price trends on the world's major stock markets, as calculated by Morgan Stanley Capital International Perspective, Geneva.@@@@1@19@@oe@2-2-2013
21957065@unknown@formal@none@1@S@To make them directly comparable, each index is based on the close of 1969 equaling 100.@@@@1@16@@oe@2-2-2013
21957066@unknown@formal@none@1@S@The percentage change is since year-end.@@@@1@6@@oe@2-2-2013
21958001@unknown@formal@none@1@S@Zurn Industries Inc. said it received approval to proceed on four separate projects with a total contract value of $59 million.@@@@1@21@@oe@2-2-2013
21958002@unknown@formal@none@1@S@The projects include construction of a 29,400 kilowatt waste-to-energy plant for Ada Cogeneration L.P., Ada, Mich.; a steam generating plant at Ontario, Calif., that Zurn will own and operate, and two waste-water control projects in Orange County, Calif.@@@@1@38@@oe@2-2-2013
21959001@unknown@formal@none@1@S@AVX Corp. and Unitrode Corp. said they completed the previously reported sale of Unitrode's San Diego-based Passive Components division to AVX.@@@@1@21@@oe@2-2-2013
21959002@unknown@formal@none@1@S@AVX, a New York-based maker of passive electronic products, paid $11 million in cash to Unitrode, a Lexington-based maker of semiconductor products.@@@@1@22@@oe@2-2-2013
21959003@unknown@formal@none@1@S@Passive Components makes capacitors and filters used to protect electronics.@@@@1@10@@oe@2-2-2013
21960001@unknown@formal@none@1@S@Consolidated Papers Inc. said it plans to spend $495 million on new paper-manufacturing equipment and facilities.@@@@1@16@@oe@2-2-2013
21960002@unknown@formal@none@1@S@The producer of paper used in magazines and by commercial printers said spending on the expansion is planned to begin in the first quarter of 1990.@@@@1@26@@oe@2-2-2013
21960003@unknown@formal@none@1@S@The expansion is subject to approval by federal and Wisconsin environmental regulators.@@@@1@12@@oe@2-2-2013
21961001@unknown@formal@none@1@S@THE STOCK of Applied Power Inc., which split 2-for-1 in May, has risen since August 1988.@@@@1@16@@oe@2-2-2013
21961002@unknown@formal@none@1@S@In yesterday's edition, it was incorrectly stated that the company's share price has softened since August 1988.@@@@1@17@@oe@2-2-2013
21962001@unknown@formal@none@1@S@The stock market's dizzying gyrations during the past few days have made a lot of individual investors wish they could buy some sort of insurance.@@@@1@25@@oe@2-2-2013
21962002@unknown@formal@none@1@S@After all, they won't soon forget the stock bargains that became available after the October 1987 crash.@@@@1@17@@oe@2-2-2013
21962003@unknown@formal@none@1@S@But while they want to be on the alert for similar buying opportunities now, they're afraid of being hammered by another terrifying plunge.@@@@1@23@@oe@2-2-2013
21962004@unknown@formal@none@1@S@The solution, at least for some investors, may be a hedging technique that's well known to players in the stock-options market.@@@@1@21@@oe@2-2-2013
21962005@unknown@formal@none@1@S@Called a "married put," the technique is carried out by purchasing a stock and simultaneously buying a put option on that stock.@@@@1@22@@oe@2-2-2013
21962006@unknown@formal@none@1@S@It's like "fire insurance," says Harrison Roth, the senior options strategist at Cowen & Co.@@@@1@15@@oe@2-2-2013
21962007@unknown@formal@none@1@S@Because a put option gives its owner the right, but not the obligation, to sell a fixed number of shares of the stock at a stated price on or before the option's expiration date, the investor is protected against a sudden drop in the stock's price.@@@@1@46@@oe@2-2-2013
21962008@unknown@formal@none@1@S@But most investment advisers don't recommend using married puts all the time.@@@@1@12@@oe@2-2-2013
21962009@unknown@formal@none@1@S@That's because the cost of buying put options eats into an investor's profit when stock prices rise.@@@@1@17@@oe@2-2-2013
21962010@unknown@formal@none@1@S@"This is the type of fire insurance you only buy when the nearby woods are on fire," says Mr. Roth.@@@@1@20@@oe@2-2-2013
21962011@unknown@formal@none@1@S@"You always want your house insured, but you don't always feel the need for your investments to be insured."@@@@1@19@@oe@2-2-2013
21962012@unknown@formal@none@1@S@In addition to hedging new stock purchases, the married-put technique can be used to protect stocks that an investor already owns.@@@@1@21@@oe@2-2-2013
21962013@unknown@formal@none@1@S@In either case, the investor faces three possible outcomes:@@@@1@9@@oe@2-2-2013
21962014@unknown@formal@none@1@S@-- If the stock goes up in price between now and the put's expiration date, the put will probably expire worthless.@@@@1@21@@oe@2-2-2013
21962015@unknown@formal@none@1@S@The investor will be out the cost of the put, which is called the "premium," and this loss will reduce the stock-market profit.@@@@1@23@@oe@2-2-2013
21962016@unknown@formal@none@1@S@-- If the stock stays at the same price between now and the put's expiration date, the investor's loss will be limited to the cost of the put, less any amount realized from a closing sale of the put.@@@@1@39@@oe@2-2-2013
21962017@unknown@formal@none@1@S@The worst-case scenario would be if the put expires worthless.@@@@1@10@@oe@2-2-2013
21962018@unknown@formal@none@1@S@-- If the price of the stock declines, the put will increase in value.@@@@1@14@@oe@2-2-2013
21962019@unknown@formal@none@1@S@Once the stock price is less than the exercise price, or "strike price," of the put, the gain will match the loss on the stock dollar for dollar.@@@@1@28@@oe@2-2-2013
21962020@unknown@formal@none@1@S@The put establishes a minimum selling price for the stock during its life.@@@@1@13@@oe@2-2-2013
21962021@unknown@formal@none@1@S@When a stock falls below the put's strike price, the investor simply sells the stock at a loss and simultaneously sells the put at a profit.@@@@1@26@@oe@2-2-2013
21962022@unknown@formal@none@1@S@Or, the investor can exercise the put, by tendering the stock to his or her broker in return for payment from another investor who has sold a put on the same stock.@@@@1@32@@oe@2-2-2013
21962023@unknown@formal@none@1@S@Brokers handle such transactions through the Options Clearing Corp., which guarantees all option trades.@@@@1@14@@oe@2-2-2013
21962024@unknown@formal@none@1@S@The accompanying table shows how this strategy would work for three stocks.@@@@1@12@@oe@2-2-2013
21962025@unknown@formal@none@1@S@Though not reflected in the table, an investor should know that the cost of the option insurance can be partially offset by any dividends that the stock pays.@@@@1@28@@oe@2-2-2013
21962026@unknown@formal@none@1@S@For example, Tenneco Inc. pays a quarterly dividend of 76 cents, which would be received before the February option expires and, thus, reduce the cost of using the technique by that amount.@@@@1@32@@oe@2-2-2013
21962027@unknown@formal@none@1@S@In this case, the investor's risk wouldn't exceed 3.6% of the total investment.@@@@1@13@@oe@2-2-2013
21962028@unknown@formal@none@1@S@To simplify the calculations, commissions on the option and underlying stock aren't included in the table.@@@@1@16@@oe@2-2-2013
21962029@unknown@formal@none@1@S@There are more than 650 stocks on which options may be bought and sold, including some over-the-counter stocks.@@@@1@18@@oe@2-2-2013
21962030@unknown@formal@none@1@S@But some investors might prefer a simpler strategy then hedging their individual holdings.@@@@1@13@@oe@2-2-2013
21962031@unknown@formal@none@1@S@They can do this by purchasing "index puts," which are simply put options on indexes that match broad baskets of stocks.@@@@1@21@@oe@2-2-2013
21962032@unknown@formal@none@1@S@For instance, the most popular index option is the S&P 100 option, commonly called the OEX.@@@@1@16@@oe@2-2-2013
21962033@unknown@formal@none@1@S@It is based on the stocks that make up Standard & Poor's 100-stock index.@@@@1@14@@oe@2-2-2013
21962034@unknown@formal@none@1@S@Unlike options on individual issues, index options are settled only in cash, and no stock is ever tendered.@@@@1@18@@oe@2-2-2013
21962035@unknown@formal@none@1@S@But while index options are convenient, they have several disadvantages.@@@@1@10@@oe@2-2-2013
21962036@unknown@formal@none@1@S@For one thing, an investor's portfolio might not closely match the S&P 100.@@@@1@13@@oe@2-2-2013
21962037@unknown@formal@none@1@S@As a result, the OEX insurance may or may not fully protect an investor's holdings in the event of a market decline.@@@@1@22@@oe@2-2-2013
21962038@unknown@formal@none@1@S@In addition, OEX options were suspended from trading last Friday afternoon, after the stock-market sell-off got under way and trading in the S&P-500 futures contract was halted.@@@@1@27@@oe@2-2-2013
21962039@unknown@formal@none@1@S@So an investor who wanted to realize a profit on OEX puts after the trading suspension would have been out of luck.@@@@1@22@@oe@2-2-2013
21962040@unknown@formal@none@1@S@On the other hand, only a handful of individual issues were suspended from trading on Friday.@@@@1@16@@oe@2-2-2013
21962041@unknown@formal@none@1@S@Normally, once the underlying investment is suspended from trading, the options on those investments also don't trade.@@@@1@17@@oe@2-2-2013
21962042@unknown@formal@none@1@S@Ultimately, whether the insurance provided by purchasing puts is worthwhile depends on the cost of the options.@@@@1@17@@oe@2-2-2013
21962043@unknown@formal@none@1@S@That cost rises in times of high market volatility.@@@@1@9@@oe@2-2-2013
21962044@unknown@formal@none@1@S@But it still might be cheaper than taking a major hit.@@@@1@11@@oe@2-2-2013
21962045@unknown@formal@none@1@S@The protection from using married puts is clearly superior to that afforded by another options strategy some investors consider using during troubled times: selling call options on stocks the investor owns.@@@@1@31@@oe@2-2-2013
21962046@unknown@formal@none@1@S@A call option is similar to a put, except that it gives its owner the right to buy shares at a stated price until expiration.@@@@1@25@@oe@2-2-2013
21962047@unknown@formal@none@1@S@Selling a call option gives an investor a small buffer against a stock-market decline.@@@@1@14@@oe@2-2-2013
21962048@unknown@formal@none@1@S@That's because it reduces the cost of the stock by the amount of premium received from the sale of the call.@@@@1@21@@oe@2-2-2013
21962049@unknown@formal@none@1@S@But if the price of the stock rises above the strike price of the option, the stock is almost certain to be called away.@@@@1@24@@oe@2-2-2013
21962050@unknown@formal@none@1@S@And in that case, the investor misses out on any major upside gain.@@@@1@13@@oe@2-2-2013
21962051@unknown@formal@none@1@S@These calculations exclude the effect of commissions paid and dividends received from the stock.@@@@1@14@@oe@2-2-2013
21962052@unknown@formal@none@1@S@All prices are as of Monday's close.@@@@1@7@@oe@2-2-2013
21963001@unknown@formal@none@1@S@Hopes for quick enactment of pending deficit-reduction legislation faded as efforts to streamline the House version in advance of a House-Senate conference broke down.@@@@1@24@@oe@2-2-2013
21963002@unknown@formal@none@1@S@House leaders had hoped to follow the Senate's lead by getting an agreement from House committee chairmen under which they would drop items that wouldn't reduce the fiscal 1990 budget deficit from the House-passed bill before the negotiations with the Senate began.@@@@1@42@@oe@2-2-2013
21963003@unknown@formal@none@1@S@But the effort became snagged on the question of what would become of other issues, ranging from cutting the capital-gains tax to child care to repeal of catastrophic-illness insurance.@@@@1@29@@oe@2-2-2013
21963004@unknown@formal@none@1@S@"Many members feel there are important features of the House bill that should be enacted," Speaker Thomas Foley (D., Wash.) said.@@@@1@21@@oe@2-2-2013
21963005@unknown@formal@none@1@S@"If there is any support for reducing the bill, it is conditioned on their desire to see them passed in another form."@@@@1@22@@oe@2-2-2013
21963006@unknown@formal@none@1@S@Now those items will be discussed in a House-Senate conference, which could begin as soon as today, with the expectation that they could either be resolved there or placed into other legislation.@@@@1@32@@oe@2-2-2013
21963007@unknown@formal@none@1@S@"You've got to give these chairmen the opportunity to see if they can work things out," said House Budget Committee Chairman Leon Panetta (D., Calif.).@@@@1@25@@oe@2-2-2013
21963008@unknown@formal@none@1@S@"This is a democratic process -- you can't slam-dunk anything around here."@@@@1@12@@oe@2-2-2013
21963009@unknown@formal@none@1@S@White House Budget Director Richard Darman has said he would continue to press to keep the capital-gains provision in the final version of the bill unless the House drops many of its costly provisions.@@@@1@34@@oe@2-2-2013
21963010@unknown@formal@none@1@S@Senate leaders had hoped to be able to send a compromise version of the measure to President Bush by the end of the week, but Speaker Foley said that wasn't likely.@@@@1@31@@oe@2-2-2013
21963011@unknown@formal@none@1@S@Failure to pass the bill meant that $16.1 billion in across-the-board spending cuts took effect Monday under the Gramm-Rudman budget law.@@@@1@21@@oe@2-2-2013
21963012@unknown@formal@none@1@S@The bill must be enacted before the cuts can be restored.@@@@1@11@@oe@2-2-2013
21964001@unknown@formal@none@1@S@TRADING VOLUME in Standard & Poor's 500 stock-index futures contracts on the Chicago Mercantile Exchange Monday totaled 73,803 contracts.@@@@1@19@@oe@2-2-2013
21964002@unknown@formal@none@1@S@Yesterday's edition incorrectly reported Monday's trading volume as a record for the S&P 500 contract.@@@@1@15@@oe@2-2-2013
21965001@unknown@formal@none@1@S@NCNB Corp. raised $1 billion in new capital during the third quarter.@@@@1@12@@oe@2-2-2013
21965002@unknown@formal@none@1@S@In yesterday's edition, the amount of new capital was misstated.@@@@1@10@@oe@2-2-2013
21966001@unknown@formal@none@1@S@McCormick Capital Inc. said its tender offer to buy back as many as 1.1 million, or 44%, of its common shares at $3 apiece, which expired Friday evening, was oversubscribed.@@@@1@30@@oe@2-2-2013
21966002@unknown@formal@none@1@S@The developer and manager of futures-investment limited partnerships said preliminary results indicate that about 1,749,000 shares had been tendered, giving a preliminary proration factor of 0.6287.@@@@1@26@@oe@2-2-2013
21966003@unknown@formal@none@1@S@The final proration factor will be announced Monday.@@@@1@8@@oe@2-2-2013
21967001@unknown@formal@none@1@S@Northgate Exploration Ltd. said it is proposing to amalgamate four of its associated companies.@@@@1@14@@oe@2-2-2013
21967002@unknown@formal@none@1@S@Under a proposed two-step amalgamation involving share swaps, ABM Gold Corp., a gold exploration and management company, will merge with Neptune Resources Corp., United Gold Corp. and Inca Resources Inc.@@@@1@30@@oe@2-2-2013
21967003@unknown@formal@none@1@S@ABM will also increase its stake in Sonora Gold Corp. to 42% from 26%.@@@@1@14@@oe@2-2-2013
21967004@unknown@formal@none@1@S@Northgate said it will own about 50% of the equity and 81% of the votes of ABM after the amalgamation.@@@@1@20@@oe@2-2-2013
21967005@unknown@formal@none@1@S@The amalgamations are subject to regulatory approval and require approval by shareholders of ABM, Inca, United and Neptune at special meetings on Nov. 10.@@@@1@24@@oe@2-2-2013
21968001@unknown@formal@none@1@S@Steven C. Walker, senior vice president of this bank holding company, was named president, chief executive officer and a director of both Commercial National and Commercial National Bank.@@@@1@28@@oe@2-2-2013
21968002@unknown@formal@none@1@S@He succeeds James E. Burt III, who resigned from all three posts to pursue other interests.@@@@1@16@@oe@2-2-2013
21969001@unknown@formal@none@1@S@Cincinnati Microwave Inc. said it introduced two radar detectors.@@@@1@9@@oe@2-2-2013
21969002@unknown@formal@none@1@S@One unit, called the Escort, uses a new digital signal-processing technology to detect radar signals much sooner than was previously possible, the company said.@@@@1@24@@oe@2-2-2013
21969003@unknown@formal@none@1@S@The other, called the Solo, is battery operated and is the first high-performance radar detector that doesn't need a power cord, the company said.@@@@1@24@@oe@2-2-2013
21970001@unknown@formal@none@1@S@A surprising surge in the U.S. trade deficit raised fears that the nation's export drive has stalled, and caused new turmoil in financial markets.@@@@1@24@@oe@2-2-2013
21970002@unknown@formal@none@1@S@The merchandise trade deficit widened in August to $10.77 billion, the Commerce Department reported, a sharp deterioration from July's $8.24 billion and the largest deficit of any month this year.@@@@1@30@@oe@2-2-2013
21970003@unknown@formal@none@1@S@Exports fell for the second month in a row, while imports rose to a record.@@@@1@15@@oe@2-2-2013
21970004@unknown@formal@none@1@S@"This is one of the worst trade releases we've had since the dollar troughed out in 1987," said Geoffrey Dennis, chief international economist at James Capel Inc.@@@@1@27@@oe@2-2-2013
21970005@unknown@formal@none@1@S@Like most analysts, Mr. Dennis was hesitant to read too much into one month's numbers; but he said, "It indicates perhaps that the balance in the U.S. economy is not as good as we've been led to believe."@@@@1@38@@oe@2-2-2013
21970006@unknown@formal@none@1@S@The number had a troubling effect on Wall Street, suggesting that more fundamental economic problems may underlie last Friday's stock market slide.@@@@1@22@@oe@2-2-2013
21970007@unknown@formal@none@1@S@The Dow Jones Industrial Average tumbled more than 60 points after the report's release, before recovering to close 18.65 points lower at 2638.73.@@@@1@23@@oe@2-2-2013
21970008@unknown@formal@none@1@S@"This bad trade number raises some deeper issues about the market decline," said Norman Robertson, chief economist for Mellon Bank.@@@@1@20@@oe@2-2-2013
21970009@unknown@formal@none@1@S@"It raises questions about more deep-seated problems, the budget deficit and the trade deficit and the seeming lack of ability to come to grips with them."@@@@1@26@@oe@2-2-2013
21970010@unknown@formal@none@1@S@The trade report drew yet another unsettling parallel to October 1987.@@@@1@11@@oe@2-2-2013
21970011@unknown@formal@none@1@S@On Oct. 14 of that year, the announcement of an unusually large August trade deficit helped trigger a steep market decline.@@@@1@21@@oe@2-2-2013
21970012@unknown@formal@none@1@S@The slide continued until the record 508-point market drop on Oct. 19.@@@@1@12@@oe@2-2-2013
21970013@unknown@formal@none@1@S@In 1987, however, the news was the latest in a string of disappointments on trade, while the current report comes after a period of improvement.@@@@1@25@@oe@2-2-2013
21970014@unknown@formal@none@1@S@The bleak trade report was played down by the Bush administration.@@@@1@11@@oe@2-2-2013
21970015@unknown@formal@none@1@S@Commerce Secretary Robert Mosbacher called the worsening trade figures "disappointing after two very good months."@@@@1@15@@oe@2-2-2013
21970016@unknown@formal@none@1@S@And White House spokesman Marlin Fitzwater said the deficit was "an unwelcome increase," adding that "we're hopeful that it simply is a one-month situation and will turn around."@@@@1@28@@oe@2-2-2013
21970017@unknown@formal@none@1@S@But the figures reinforced the view of many private analysts that the improvement in the U.S. trade deficit has run out of steam.@@@@1@23@@oe@2-2-2013
21970018@unknown@formal@none@1@S@"The figures today add further evidence to support the view that the improvement in the U.S. trade deficit has essentially stalled out at a level of about a $110 billion annual rate," said Jeffrey Scott, a research fellow at the Institute for International Economics here.@@@@1@45@@oe@2-2-2013
21970019@unknown@formal@none@1@S@"That's still an improvement over last year, but it leads one to conclude that basically we've gotten all the mileage we can out of past dollar depreciation and past marginal cuts in the federal budget deficit."@@@@1@36@@oe@2-2-2013
21970020@unknown@formal@none@1@S@Exports declined for the second consecutive month in August, slipping 0.2% to $30.41 billion, the Commerce Department reported.@@@@1@18@@oe@2-2-2013
21970021@unknown@formal@none@1@S@Imports, on the other hand, leaped 6.4% to a record $41.18 billion.@@@@1@12@@oe@2-2-2013
21970022@unknown@formal@none@1@S@Not only was August's deficit far worse than July's, but the government revised the July figure substantially from the $7.58 billion deficit it had initially reported last month.@@@@1@28@@oe@2-2-2013
21970023@unknown@formal@none@1@S@Many economists contend that deep cuts in the U.S. budget deficit are needed before further trade improvement can occur.@@@@1@19@@oe@2-2-2013
21970024@unknown@formal@none@1@S@That's because the budget deficit feeds an enormous appetite in this country for both foreign goods and foreign capital, overwhelming the nation's capacity to export.@@@@1@25@@oe@2-2-2013
21970025@unknown@formal@none@1@S@"People are sick and tired of hearing about these deficits, but the imbalances are still there and they are still a problem," said Mr. Robertson.@@@@1@25@@oe@2-2-2013
21970026@unknown@formal@none@1@S@In addition, the rise in the value of the dollar against foreign currencies over the past several months has increased the price of U.S. products in overseas markets and hurt the country's competitiveness.@@@@1@33@@oe@2-2-2013
21970027@unknown@formal@none@1@S@Since March, exports have been virtually flat.@@@@1@7@@oe@2-2-2013
21970028@unknown@formal@none@1@S@At the same time, William T. Archey, international vice president at the U.S. Chamber of Commerce, notes: "Clearly the stronger dollar has made imports more attractive" by causing their prices to decline.@@@@1@32@@oe@2-2-2013
21970029@unknown@formal@none@1@S@Most economists expect the slowing U.S. economy to curb demand for imports.@@@@1@12@@oe@2-2-2013
21970030@unknown@formal@none@1@S@But they foresee little substantial progress in exports unless the dollar and the federal budget deficit come down.@@@@1@18@@oe@2-2-2013
21970031@unknown@formal@none@1@S@"The best result we could get from these numbers would be to see the administration and Congress get serious about putting the U.S. on an internationally competitive economic footing," said Howard Lewis, vice president of international economic affairs at the National Association of Manufacturers.@@@@1@44@@oe@2-2-2013
21970032@unknown@formal@none@1@S@"That must start with cutting the federal budget deficit."@@@@1@9@@oe@2-2-2013
21970033@unknown@formal@none@1@S@August's decline in exports reflected decreases in sales of industrial supplies, capital goods and food abroad and increases in sales of motor vehicles, parts and engines.@@@@1@26@@oe@2-2-2013
21970034@unknown@formal@none@1@S@The jump in imports stemmed from across-the-board increases in purchases of foreign goods.@@@@1@13@@oe@2-2-2013
21970035@unknown@formal@none@1@S@The numbers were adjusted for usual seasonal fluctuations.@@@@1@8@@oe@2-2-2013
21970036@unknown@formal@none@1@S@Alan Murray contributed to this article.@@@@1@6@@oe@2-2-2013
21970037@unknown@formal@none@1@S@(In billions of U.S. dollars, not seasonally adjusted)@@@@1@8@@oe@2-2-2013
21970038@unknown@formal@none@1@S@*Newly industrialized countries: Singapore, Hong Kong, Taiwan, South Korea@@@@1@9@@oe@2-2-2013
21971001@unknown@formal@none@1@S@Steve Jobs took a step back from the frontier of personal-computer technology in an effort to spur sales of Next Inc.'s new machine.@@@@1@23@@oe@2-2-2013
21971002@unknown@formal@none@1@S@Mr. Jobs moved to remedy a couple of his computer's drawbacks yesterday by lowering the entry-level price for a Next machine by $1,500, or 23%, if the buyer chooses a hard-disk drive as an alternative to Next's optical-storage device.@@@@1@39@@oe@2-2-2013
21971003@unknown@formal@none@1@S@The hard drive, which is the storage device of choice for virtually every desktop computer user, also now will supplement Next's futuristic optical device if buyers pay full price.@@@@1@29@@oe@2-2-2013
21971004@unknown@formal@none@1@S@Mr. Jobs, co-founder of Apple Computer Inc., founded Next four years ago in the hopes of fomenting a revolution in the way desktop computers are designed and used.@@@@1@28@@oe@2-2-2013
21971005@unknown@formal@none@1@S@His Next computer, introduced about a year ago and aimed primarily at university computer users, sports snazzy graphics, digital sound, built-in networking and a sleek black design.@@@@1@27@@oe@2-2-2013
21971006@unknown@formal@none@1@S@But the computer was proving a hard sell because of its high price, a lack of software and an optical data-storage device that was too slow.@@@@1@26@@oe@2-2-2013
21971007@unknown@formal@none@1@S@The machine began shipping at the end of last year.@@@@1@10@@oe@2-2-2013
21971008@unknown@formal@none@1@S@The closely held company hasn't disclosed sales.@@@@1@7@@oe@2-2-2013
21971009@unknown@formal@none@1@S@However, most universities that have bought the machines say they are buying small numbers for evaluation purposes.@@@@1@17@@oe@2-2-2013
21971010@unknown@formal@none@1@S@Universities can now buy a Next computer without an optical storage device for $4,995.@@@@1@14@@oe@2-2-2013
21971011@unknown@formal@none@1@S@A computer with the optical device will still cost $6,495, but from now on Next will outfit every computer with a hard drive and supply one at no cost to those who have already bought Next machines.@@@@1@37@@oe@2-2-2013
21971012@unknown@formal@none@1@S@Commercial customers can purchase the same system through Businessland Inc., a computer retailer based in San Jose, Calif., for roughly $3,000 more.@@@@1@22@@oe@2-2-2013
21971013@unknown@formal@none@1@S@Mr. Jobs said the changes were prompted by requests from customers who are frustrated with the performance of the optical device, which isn't offered as standard equipment by any rivals.@@@@1@30@@oe@2-2-2013
21971014@unknown@formal@none@1@S@Another factor was that customers were asking, "Why don't you give us a cheaper system?" Mr. Jobs said at a conference on university computing here.@@@@1@25@@oe@2-2-2013
21971015@unknown@formal@none@1@S@Optical-storage devices can handle very large amounts of data and make it far easier to edit film clips or audio recordings with a computer.@@@@1@24@@oe@2-2-2013
21971016@unknown@formal@none@1@S@But the technology, while reliable, is far slower than the widely used hard drives.@@@@1@14@@oe@2-2-2013
21971017@unknown@formal@none@1@S@To get around the delays caused by the optical device, Businessland, which is Next's exclusive dealer to corporations, has for months been advising customers to purchase hard drives with the machines.@@@@1@31@@oe@2-2-2013
21971018@unknown@formal@none@1@S@Next's decision to rely on the more-established hard drive in every Next computer doesn't signal a retreat from optical storage, said Mr. Jobs, who for years has said this technology will play a crucial role in the next decade.@@@@1@39@@oe@2-2-2013
21971019@unknown@formal@none@1@S@"We're extremely committed to optical storage technology" he said.@@@@1@9@@oe@2-2-2013
21971020@unknown@formal@none@1@S@"We think everything will go this way in a few years."@@@@1@11@@oe@2-2-2013
21971021@unknown@formal@none@1@S@He said that the next generation of optical drives will be as fast as hard drives, but he depends on outside suppliers for the devices.@@@@1@25@@oe@2-2-2013
21971022@unknown@formal@none@1@S@But university computer specialists, who welcomed the move, called it a necessary retreat from the cutting edge of technology and one that's likely to increase Next's sales on campuses.@@@@1@29@@oe@2-2-2013
21971023@unknown@formal@none@1@S@"From the standpoint of being on the forefront of technology, this is a step backward," said Jerry W. Sprecher, a senior computing manager for the California state university system.@@@@1@29@@oe@2-2-2013
21971024@unknown@formal@none@1@S@"But it will definitely boost Next's sales."@@@@1@7@@oe@2-2-2013
21971025@unknown@formal@none@1@S@Universities, however, say Next's prices must go even lower before large numbers of students purchase the machine.@@@@1@17@@oe@2-2-2013
21971026@unknown@formal@none@1@S@"We'd still like to see a student model," priced at about $3,500, said Ronald Johnson, director of academic computing at Minnesota's Gustavus Adolphus College, which has bought eight Next machines.@@@@1@30@@oe@2-2-2013
21971027@unknown@formal@none@1@S@Broad acceptance of Next's computer also is hindered by difficulty in distributing software for it.@@@@1@15@@oe@2-2-2013
21971028@unknown@formal@none@1@S@Most software is distributed on cheap floppy disks, but the Next computer doesn't come with a device that reads them.@@@@1@20@@oe@2-2-2013
21971029@unknown@formal@none@1@S@Next's computer also needs more software applications, but Mr. Jobs said he expects more soon.@@@@1@15@@oe@2-2-2013
21971030@unknown@formal@none@1@S@He said he expects Lotus Development Corp. to introduce a Next version of its popular 1-2-3 spreadsheet program in 1990.@@@@1@20@@oe@2-2-2013
21971031@unknown@formal@none@1@S@Educators added that Next needs to soon offer a color version of its computer.@@@@1@14@@oe@2-2-2013
21971032@unknown@formal@none@1@S@Every major maker offers computers with color displays.@@@@1@8@@oe@2-2-2013
21971033@unknown@formal@none@1@S@Next won't comment on when it will do the same, but is believed to have a color model under development.@@@@1@20@@oe@2-2-2013
21972001@unknown@formal@none@1@S@Donald J. Amaral, 37 years old, was named president and chief operating officer of this owner and operator of hospitals, nursing centers and retirement hotels.@@@@1@25@@oe@2-2-2013
21972002@unknown@formal@none@1@S@He succeeds as president, Don Freeberg, who remains chairman and chief executive officer.@@@@1@13@@oe@2-2-2013
21972003@unknown@formal@none@1@S@The position of chief operating officer is new.@@@@1@8@@oe@2-2-2013
21973001@unknown@formal@none@1@S@Ashton-Tate Corp. reported a net loss of $19.4 million, or 74 cents a share, for the third quarter, which was burdened by severance costs and the expense of upgrading its database software inventories.@@@@1@33@@oe@2-2-2013
21973002@unknown@formal@none@1@S@The software company said revenue slid 28% to $53.9 million.@@@@1@10@@oe@2-2-2013
21973003@unknown@formal@none@1@S@This contrasts with the year-ago quarter, when the company had net income of $11.7 million, or 45 cents a share, on revenue of $75.7 million.@@@@1@25@@oe@2-2-2013
21973004@unknown@formal@none@1@S@For the nine months, Ashton-Tate had a loss of $27.6 million, or $1.05 a share.@@@@1@15@@oe@2-2-2013
21973005@unknown@formal@none@1@S@In the year-ago period, the company had profit of $34.3 million, or $1.32 a share.@@@@1@15@@oe@2-2-2013
21973006@unknown@formal@none@1@S@Revenue in the period slid almost 8% to $203.2 million from about $220 million last year.@@@@1@16@@oe@2-2-2013
21973007@unknown@formal@none@1@S@Edward M. Esber, chairman, president and chief executive officer, attributed the decline to reduced domestic revenue because of $4.9 million spent to upgrade existing software inventories to the new database IV Version 1.1, and $1.8 million spent on the recent reduction in work force.@@@@1@44@@oe@2-2-2013
21973008@unknown@formal@none@1@S@He said the company was "encouraged by feedback" it received from selected customers now testing Version 1.1.@@@@1@17@@oe@2-2-2013
21973009@unknown@formal@none@1@S@The red ink came as no surprise to Wall Street, but analysts said they saw ominous hints of a further delay in volume shipments of Version 1.1, a harbinger of continued losses in the fourth quarter.@@@@1@36@@oe@2-2-2013
21973010@unknown@formal@none@1@S@"The loss is in line with our expectations," said John C. Maxwell III, an analyst with Dillon, Read & Co. in New York.@@@@1@23@@oe@2-2-2013
21973011@unknown@formal@none@1@S@He added gross margins and operating profit "eroded quite dramatically" from the prior quarter, along with sales of existing software product lines like Multimate and Framework.@@@@1@26@@oe@2-2-2013
21973012@unknown@formal@none@1@S@"The success of a new product in the database line is needed.@@@@1@12@@oe@2-2-2013
21973013@unknown@formal@none@1@S@And while the company hasn't made a definite statement, it now looks like that's not going to be anytime soon," Mr. Maxwell said.@@@@1@23@@oe@2-2-2013
21973014@unknown@formal@none@1@S@The company said in a statement that it expects to ship new products "during the next two quarters."@@@@1@18@@oe@2-2-2013
21973015@unknown@formal@none@1@S@"It now looks like database IV Version 1.1 isn't going to be {widely} available until the first quarter of 1990," said David Bayer, an analyst with Montgomery Securities in San Francisco.@@@@1@31@@oe@2-2-2013
21973016@unknown@formal@none@1@S@"This is the second delay now in getting the product out the door.@@@@1@13@@oe@2-2-2013
21973017@unknown@formal@none@1@S@It does prolong the pain somewhat."@@@@1@6@@oe@2-2-2013
21973018@unknown@formal@none@1@S@Mr. Maxwell said unless the company can start shipments of the new product sometime this quarter, the fourth-quarter loss is likely to be "comparable to the third quarter's."@@@@1@28@@oe@2-2-2013
21973019@unknown@formal@none@1@S@If the company can start to ship during this quarter, it could stem some, if not all of the red ink, he said.@@@@1@23@@oe@2-2-2013
21973020@unknown@formal@none@1@S@In national over-the-counter trading, Ashton-Tate closed yesterday at $10 a share, up 62.5 cents.@@@@1@14@@oe@2-2-2013
21974001@unknown@formal@none@1@S@Tuesday, October 17, 1989@@@@1@4@@oe@2-2-2013
21974002@unknown@formal@none@1@S@The key U.S. and foreign annual interest rates below are a guide to general levels but don't always represent actual transactions.@@@@1@21@@oe@2-2-2013
21974003@unknown@formal@none@1@S@PRIME RATE: 10 1/2%.@@@@1@4@@oe@2-2-2013
21974004@unknown@formal@none@1@S@The base rate on corporate loans at large U.S. money center commercial banks.@@@@1@13@@oe@2-2-2013
21974005@unknown@formal@none@1@S@FEDERAL FUNDS: 8 11/16% high, 8 5/8% low, 8 5/8% near closing bid, 8 11/16% offered.@@@@1@16@@oe@2-2-2013
21974006@unknown@formal@none@1@S@Reserves traded among commercial banks for overnight use in amounts of $1 million or more.@@@@1@15@@oe@2-2-2013
21974007@unknown@formal@none@1@S@Source: Fulton Prebon (U.S.A.) Inc.@@@@1@5@@oe@2-2-2013
21974008@unknown@formal@none@1@S@DISCOUNT RATE: 7%.@@@@1@3@@oe@2-2-2013
21974009@unknown@formal@none@1@S@The charge on loans to depository institutions by the New York Federal Reserve Bank.@@@@1@14@@oe@2-2-2013
21974010@unknown@formal@none@1@S@CALL MONEY: 9 3/4% to 10%.@@@@1@6@@oe@2-2-2013
21974011@unknown@formal@none@1@S@The charge on loans to brokers on stock exchange collateral.@@@@1@10@@oe@2-2-2013
21974012@unknown@formal@none@1@S@COMMERCIAL PAPER placed directly by General Motors Acceptance Corp.: 8.40% 30 to 44 days; 8.325% 45 to 59 days; 8.10% 60 to 89 days; 8% 90 to 119 days; 7.85% 120 to 149 days; 7.70% 150 to 179 days; 7.375% 180 to 270 days.@@@@1@44@@oe@2-2-2013
21974013@unknown@formal@none@1@S@COMMERCIAL PAPER: High-grade unsecured notes sold through dealers by major corporations in multiples of $1,000: 8.50% 30 days; 8.40% 60 days; 8.375% 90 days.@@@@1@24@@oe@2-2-2013
21974014@unknown@formal@none@1@S@CERTIFICATES OF DEPOSIT: 8.05% one month; 8.02% two months; 8% three months; 7.98% six months; 7.95% one year.@@@@1@18@@oe@2-2-2013
21974015@unknown@formal@none@1@S@Average of top rates paid by major New York banks on primary new issues of negotiable C.D.s, usually on amounts of $1 million and more.@@@@1@25@@oe@2-2-2013
21974016@unknown@formal@none@1@S@The minimum unit is $100,000.@@@@1@5@@oe@2-2-2013
21974017@unknown@formal@none@1@S@Typical rates in the secondary market: 8.50% one month; 8.50% three months; 8.45% six months.@@@@1@15@@oe@2-2-2013
21974018@unknown@formal@none@1@S@BANKERS ACCEPTANCES: 8.38% 30 days; 8.28% 60 days; 8.23% 90 days; 8.13% 120 days; 8.03% 150 days; 7.93% 180 days.@@@@1@20@@oe@2-2-2013
21974019@unknown@formal@none@1@S@Negotiable, bank-backed business credit instruments typically financing an import order.@@@@1@10@@oe@2-2-2013
21974020@unknown@formal@none@1@S@LONDON LATE EURODOLLARS: 8 5/8% to 8 1/2% one month; 8 9/16% to 8 7/16% two months; 8 9/16% to 8 7/16% three months; 8 1/2% to 8 3/8% four months; 8 7/16% to 8 5/16% five months; 8 7/16% to 8 5/16% six months.@@@@1@45@@oe@2-2-2013
21974021@unknown@formal@none@1@S@LONDON INTERBANK OFFERED RATES (LIBOR): 8 5/8% one month; 8 9/16% three months; 8 7/16% six months; 8 7/16% one year.@@@@1@21@@oe@2-2-2013
21974022@unknown@formal@none@1@S@The average of interbank offered rates for dollar deposits in the London market based on quotations at five major banks.@@@@1@20@@oe@2-2-2013
21974023@unknown@formal@none@1@S@FOREIGN PRIME RATES: Canada 13.50%; Germany 8.50%; Japan 4.875%; Switzerland 8.50%; Britain 15%.@@@@1@13@@oe@2-2-2013
21974024@unknown@formal@none@1@S@These rate indications aren't directly comparable; lending practices vary widely by location.@@@@1@12@@oe@2-2-2013
21974025@unknown@formal@none@1@S@TREASURY BILLS: Results of the Monday, October 16, 1989, auction of short-term U.S. government bills, sold at a discount from face value in units of $10,000 to $1 million: 7.37% 13 weeks; 7.42% 26 weeks.@@@@1@35@@oe@2-2-2013
21974026@unknown@formal@none@1@S@FEDERAL HOME LOAN MORTGAGE CORP. (Freddie Mac): Posted yields on 30-year mortgage commitments for delivery within 30 days.@@@@1@18@@oe@2-2-2013
21974027@unknown@formal@none@1@S@9.88%, standard conventional fixed-rate mortgages; 7.875%, 2% rate capped one-year adjustable rate mortgages.@@@@1@13@@oe@2-2-2013
21974028@unknown@formal@none@1@S@Source: Telerate Systems Inc.@@@@1@4@@oe@2-2-2013
21974029@unknown@formal@none@1@S@FEDERAL NATIONAL MORTGAGE ASSOCIATION (Fannie Mae): Posted yields on 30 year mortgage commitments for delivery within 30 days (priced at par) 9.80%, standard conventional fixed-rate mortgages; 8.70%, 6/2 rate capped one-year adjustable rate mortgages.@@@@1@34@@oe@2-2-2013
21974030@unknown@formal@none@1@S@Source: Telerate Systems Inc.@@@@1@4@@oe@2-2-2013
21974031@unknown@formal@none@1@S@MERRILL LYNCH READY ASSETS TRUST: 8.50%.@@@@1@6@@oe@2-2-2013
21974032@unknown@formal@none@1@S@Annualized average rate of return after expenses for the past 30 days; not a forecast of future returns.@@@@1@18@@oe@2-2-2013
21975001@unknown@formal@none@1@S@Ethyl Corp. reported that third-quarter net income fell 12% from a year-earlier quarter helped by a gain from discontinued operations.@@@@1@20@@oe@2-2-2013
21975002@unknown@formal@none@1@S@Profit from continuing operations rose 19%.@@@@1@6@@oe@2-2-2013
21975003@unknown@formal@none@1@S@The chemicals and insurance company said net in the latest quarter was $54.8 million, or 45 cents a share.@@@@1@19@@oe@2-2-2013
21975004@unknown@formal@none@1@S@In the year-earlier quarter, net was $62.2 million, or 51 cents a share.@@@@1@13@@oe@2-2-2013
21975005@unknown@formal@none@1@S@The previous-year quarter included $16.1 million from businesses spun off as Tredegar Industries Inc.@@@@1@14@@oe@2-2-2013
21975006@unknown@formal@none@1@S@Revenue was $613.7 million, up 18% from $521.2 million a year ago.@@@@1@12@@oe@2-2-2013
21975007@unknown@formal@none@1@S@Ethyl said pretax profit from its insurance segment, excluding investment gains, rose 28% in the latest quarter to $28.6 million from $22.4 million.@@@@1@23@@oe@2-2-2013
21975008@unknown@formal@none@1@S@In the chemicals segment, pretax profit rose 7% to $69.2 million from $64.9 million.@@@@1@14@@oe@2-2-2013
21975009@unknown@formal@none@1@S@The company's chemicals interests include, among other things, petroleum additives, pharmaceuticals ingredients and polysilicon used by the semiconductor industry.@@@@1@19@@oe@2-2-2013
21975010@unknown@formal@none@1@S@For the nine months, Ethyl said net fell 2% to $168.7 million, or $1.40 a share, from $172.2 million, $1.42 a share, a year ago.@@@@1@25@@oe@2-2-2013
21975011@unknown@formal@none@1@S@Net in the latest period included $11.9 million from discontinued operations and a charge of $6.2 million from a plant closing.@@@@1@21@@oe@2-2-2013
21975012@unknown@formal@none@1@S@In the year-ago period, net included $32.7 million from discontinued operations.@@@@1@11@@oe@2-2-2013
21975013@unknown@formal@none@1@S@Revenue was $1.79 billion, up 18% from $1.52 billion a year earlier.@@@@1@12@@oe@2-2-2013
21975014@unknown@formal@none@1@S@In New York Stock Exchange composite trading, Ethyl closed at $25.875 a share, up 12.5 cents.@@@@1@16@@oe@2-2-2013
21976001@unknown@formal@none@1@S@Tribune Co., helped by a hefty boost in performance at its broadcasting and entertainment operations, said net income jumped 21% in its third quarter ended Sept. 24 on a 3% increase in revenue.@@@@1@33@@oe@2-2-2013
21976002@unknown@formal@none@1@S@The broadcasting and newspaper concern, based in Chicago, said net was $62.7 million, or 77 cents a primary share, up from $51.6 million, or 69 cents a share.@@@@1@28@@oe@2-2-2013
21976003@unknown@formal@none@1@S@Per-share figures this year reflect $6.8 million in preferred-share dividends; the 1988 quarter didn't have such a payout.@@@@1@18@@oe@2-2-2013
21976004@unknown@formal@none@1@S@Revenue rose to $590.7 million from $575.1 million.@@@@1@8@@oe@2-2-2013
21976005@unknown@formal@none@1@S@Nine-month net climbed 19% to $174.8 million, or $2.21 a primary share, from $147.5 million, or $1.94 a share.@@@@1@19@@oe@2-2-2013
21976006@unknown@formal@none@1@S@Nine-month per-share figures for 1989 reflect $12.9 million in preferred dividends that had no counterpart in the year-earlier quarter.@@@@1@19@@oe@2-2-2013
21976007@unknown@formal@none@1@S@Revenue rose 4% to $1.79 billion.@@@@1@6@@oe@2-2-2013
21976008@unknown@formal@none@1@S@In New York Stock Exchange composite trading Friday, Tribune closed at $49.375, down $4.75.@@@@1@14@@oe@2-2-2013
21977001@unknown@formal@none@1@S@Enserch Corp. said about 12 million, or 93%, of the publicly traded units of its limited partnership, Enserch Exploration Partners Ltd., were tendered in response to an offer that expired Monday.@@@@1@31@@oe@2-2-2013
21977002@unknown@formal@none@1@S@Enserch said the tendered units will raise its ownership of the partnership to more than 99% from 87%.@@@@1@18@@oe@2-2-2013
21977003@unknown@formal@none@1@S@About 900,000 units will continue to be publicly traded on the New York Stock Exchange, Enserch said.@@@@1@17@@oe@2-2-2013
21977004@unknown@formal@none@1@S@Enserch had offered one-half a share of its common and $1 in cash for each unit.@@@@1@16@@oe@2-2-2013
21978001@unknown@formal@none@1@S@The public sector borrowing requirement, the most widely used measure of Britain's government deficit or surplus, showed a deficit of #200 million in September, compared with a deficit of #765 million in August and a deficit of #1.08 billion in September 1988, the Treasury said.@@@@1@45@@oe@2-2-2013
21978002@unknown@formal@none@1@S@In the six months since the current fiscal year began April 1, the surplus totaled #500 million, compared with a surplus of #3.6 billion in the year-earlier period.@@@@1@28@@oe@2-2-2013
21978003@unknown@formal@none@1@S@The government is projecting a #14 billion surplus for the fiscal year.@@@@1@12@@oe@2-2-2013
21978004@unknown@formal@none@1@S@The reported figures for the public sector borrowing requirement include receipts from the sale of state-owned industries.@@@@1@17@@oe@2-2-2013
21978005@unknown@formal@none@1@S@Excluding those receipts, the government deficit would have totaled about #2.5 billion in the first six months, compared with #1.3 billion a year earlier, the Treasury said.@@@@1@27@@oe@2-2-2013
21979001@unknown@formal@none@1@S@French crude-steel production in September was 1,616,000 metric tons, unchanged from a year earlier, according to the National Steel Manufacturers' Association.@@@@1@21@@oe@2-2-2013
21979002@unknown@formal@none@1@S@The association said the September total brought French output for the first nine months this year to 14,789,000 tons, up 4.5% from a year earlier.@@@@1@25@@oe@2-2-2013
21980001@unknown@formal@none@1@S@Prospect Group Inc., whose recent hostile tender offer for Recognition Equipment Inc. failed for lack of financing, apparently has gained a measure of control over the troubled company anyway.@@@@1@29@@oe@2-2-2013