21800001@unknown@formal@none@1@S@Congress sent President Bush an $18.4 billion fiscal 1990 Treasury and Postal Service bill providing $5.5 billion for the Internal Revenue Service and increasing the Customs Service's air-interdiction program nearly a third.@@@@1@32@@oe@2-2-2013
21800002@unknown@formal@none@1@S@Final approval came on a simple voice vote in the Senate, and the swift passage contrasted with months of negotiations over the underlying bill which is laced with special-interest provisions for both members and the executive branch.@@@@1@37@@oe@2-2-2013
21800003@unknown@formal@none@1@S@An estimated $33 million was added for university and science grants, including $1.5 million for Smith College.@@@@1@17@@oe@2-2-2013
21800004@unknown@formal@none@1@S@And Southwest lawmakers were a driving force behind $54.6 million for U.S.-Mexico border facilities, or more than double the administration's request.@@@@1@21@@oe@2-2-2013
21800005@unknown@formal@none@1@S@More than $1.8 million is allocated for pensions and expenses for former presidents, and the budget for the official residence of Vice President Quayle is more than doubled, with $200,000 designated for improvements to the property.@@@@1@36@@oe@2-2-2013
21800006@unknown@formal@none@1@S@Even the Office of Management and Budget is remembered with an extra $1 million to help offset pay costs that other government departments are being asked to absorb.@@@@1@28@@oe@2-2-2013
21800007@unknown@formal@none@1@S@Within the IRS, nearly $1.95 billion is provided for processing tax returns, a 12% increase over fiscal 1989 and double what the government was spending five years ago.@@@@1@28@@oe@2-2-2013
21800008@unknown@formal@none@1@S@Investigation and taxpayer service accounts would grow to $1.6 billion, and Congress specifically added $7.4 million for stepped up criminal investigations of money laundering related to drug traffic.@@@@1@28@@oe@2-2-2013
21800009@unknown@formal@none@1@S@The large increase in Customs Service air-interdiction funds is also intended to counter smuggling, and the annual appropriations level has more than quadrupled in five years.@@@@1@26@@oe@2-2-2013
21800010@unknown@formal@none@1@S@The $196.7 million provided for fiscal 1990 anticipates the purchase of a Lockheed P-3 surveillance aircraft and five Cessna Citation II jets.@@@@1@22@@oe@2-2-2013
21800011@unknown@formal@none@1@S@Despite administration reservations, the plan has had the quiet backing of customs officials as well as influential lawmakers from Cessna's home state, Kansas.@@@@1@23@@oe@2-2-2013
21800012@unknown@formal@none@1@S@Among legislative provisions attached to the bill is a ban on any Treasury Department expenditure for enforcement of a 1986 tax provision intended to counter discrimination in employee-benefit plans.@@@@1@29@@oe@2-2-2013
21800013@unknown@formal@none@1@S@Small-business interests have lobbied against the so-called Section 89 tax rules.@@@@1@11@@oe@2-2-2013
21800014@unknown@formal@none@1@S@Repeal is considered likely now, but the Treasury Department bill has been used as a vehicle to raise the profile of the issue and block any action in the interim.@@@@1@30@@oe@2-2-2013
21800015@unknown@formal@none@1@S@Less noticed is a bit of legislative legerdemain by Houston Republicans on behalf of HEI Corp. of Texas to retroactively "move" a Missouri hospital from one county to the next to justify higher Medicare reimbursements.@@@@1@35@@oe@2-2-2013
21800016@unknown@formal@none@1@S@The provision seeks to wipe out an estimated $1.4 million in claims made by the Health Care Finance Administration against HEI, which owned the hospital in Sullivan, Mo., during most of the four-year period -- 1983-1987 -- covered in the amendment.@@@@1@41@@oe@2-2-2013
21800017@unknown@formal@none@1@S@In a separate development, a private meeting is scheduled this morning between House Appropriations Committee Chairman Jamie Whitten (D., Miss.) and Sen. Dale Bumpers (D., Ark.) in an effort to end a dispute which for two weeks has delayed action on an estimated $44 billion agriculture bill.@@@@1@47@@oe@2-2-2013
21800018@unknown@formal@none@1@S@A House-Senate conference reached agreement Oct. 5 on virtually all major provisions of the bill, but final settlement has been stalled because of differences between the two men over the fate of a modest Arkansas-based program to provide technical information to farmers seeking to reduce their dependence on chemical fertilizers and pesticides.@@@@1@52@@oe@2-2-2013
21800019@unknown@formal@none@1@S@The program's nonprofit sponsors received $900,000 in fiscal 1989 through an Extension Service grant, but Mr. Whitten has been adamant in insisting that the program be cut in 1990.@@@@1@29@@oe@2-2-2013
21800020@unknown@formal@none@1@S@The 79-year-old Mississippian takes a more orthodox, entrenched view of agriculture policy than those in the movement to reduce chemical use, but as a master of pork-barrel politics, he is believed to be annoyed as well that the project moved to Arkansas from a Tennessee center near Memphis and the northern Mississippi border.@@@@1@53@@oe@2-2-2013
21801001@unknown@formal@none@1@S@Michael F. Klatman, director of corporate public relations at Data General Corp., was named to the new position of vice president, corporate communications, of this maker of data storage equipment.@@@@1@30@@oe@2-2-2013
21802001@unknown@formal@none@1@S@B.A.T Industries PLC may delay aspects of its defensive restructuring plan -- including the sale of its Saks Fifth Avenue and Marshall Field units -- in the wake of the current upheaval in financial markets, company officials said.@@@@1@38@@oe@2-2-2013
21802002@unknown@formal@none@1@S@The British conglomerate, planning its own defensive restructuring to fight off a #13.35 billion ($21.03 billion) takeover bid by Anglo-French financier Sir James Goldsmith, intends to press ahead with an extraordinary shareholder vote today to clear the way for its value-boosting measures.@@@@1@42@@oe@2-2-2013
21802003@unknown@formal@none@1@S@If anything, the gyrations in world stock markets -- and in B.A.T's share price -- since last Friday's sharp Wall Street sell-off have increased the likelihood of shareholder approval for the restructuring, analysts and several big institutional holders said.@@@@1@39@@oe@2-2-2013
21802004@unknown@formal@none@1@S@"Thank God we have some deal on the table," said Stewart Gilchrist, a director at Scottish Amicable Investment Managers, which intends to vote its roughly 1% stake in favor of the restructuring.@@@@1@32@@oe@2-2-2013
21802005@unknown@formal@none@1@S@Investors in B.A.T have been on a roller coaster.@@@@1@9@@oe@2-2-2013
21802006@unknown@formal@none@1@S@B.A.T has been London's best-performing blue chip over the past six months, up 40% against a 4% rise in the Financial Times 100-Share Index.@@@@1@24@@oe@2-2-2013
21802007@unknown@formal@none@1@S@But this week, B.A.T has been hit harder than other big U.K. stocks -- first by the market gyrations, then by Tuesday's San Francisco earthquake, which could leave B.A.T's Farmers Group Inc. insurance unit facing big claims.@@@@1@37@@oe@2-2-2013
21802008@unknown@formal@none@1@S@B.A.T rose five pence (eight cents) to 756 pence ($11.91) in London yesterday as a late market rally erased a 28-pence fall earlier in the day.@@@@1@26@@oe@2-2-2013
21802009@unknown@formal@none@1@S@To fight off predators, B.A.T plans to spin off about $6 billion in assets, largely by selling such U.S. retailing units as Marshall Field and Saks and by floating its big paper and U.K. retailing business via share issues to existing holders.@@@@1@42@@oe@2-2-2013
21802010@unknown@formal@none@1@S@Proceeds will help pay for a planned buy-back of 10% of its shares and a 50% dividend increase.@@@@1@18@@oe@2-2-2013
21802011@unknown@formal@none@1@S@"I think the restructuring will get the required support," said Michael Pacitti, an analyst at London stockbroker UBS Phillips & Drew.@@@@1@21@@oe@2-2-2013
21802012@unknown@formal@none@1@S@"The shareholders effectively will support the share price by clearing the share buy-back."@@@@1@13@@oe@2-2-2013
21802013@unknown@formal@none@1@S@But B.A.T's restructuring, which was never going to happen quickly, now will take longer because of the market upheaval.@@@@1@19@@oe@2-2-2013
21802014@unknown@formal@none@1@S@Company officials, holders and analysts who previously expected the disposals to be substantially complete by the end of next year's first half now say the market gyrations could delay the actions well into the second half.@@@@1@36@@oe@2-2-2013
21802015@unknown@formal@none@1@S@"We aren't forced sellers.@@@@1@4@@oe@2-2-2013
21802016@unknown@formal@none@1@S@We don't have an absolute deadline and if market conditions are truly awful we might decide it is not the right time," to take particular steps, said Michael Prideaux, a B.A.T spokesman.@@@@1@32@@oe@2-2-2013
21802017@unknown@formal@none@1@S@Even if B.A.T receives approval for the restructuring, the company will remain in play, say shareholders and analysts, though the situation may unfold over the next 12 months, rather than six.@@@@1@31@@oe@2-2-2013
21802018@unknown@formal@none@1@S@The new B.A.T will be a smaller tobacco and financial-services hybrid whose price-earnings ratio may more closely reflect the lower-growth tobacco business than the higher-multiple financial-services business, these holders believe.@@@@1@30@@oe@2-2-2013
21802019@unknown@formal@none@1@S@Thus B.A.T's restructuring may only make the company a more manageable target for other corporate predators -- possibly such acquisitive bidders as Hanson PLC.@@@@1@24@@oe@2-2-2013
21802020@unknown@formal@none@1@S@"The last few days will surely slow down the pace of events," says Scottish Amicable's Mr. Gilchrist.@@@@1@17@@oe@2-2-2013
21802021@unknown@formal@none@1@S@"But I wouldn't write off" Sir James or other potential bidders.@@@@1@11@@oe@2-2-2013
21802022@unknown@formal@none@1@S@Among possible delays, the sales of Saks and Marshall Field -- which were expected to be on the block soon after the crucial Christmas season -- may slide into the second quarter or second half.@@@@1@35@@oe@2-2-2013
21802023@unknown@formal@none@1@S@Analysts estimate that sales of the two businesses could raise roughly $2 billion.@@@@1@13@@oe@2-2-2013
21802024@unknown@formal@none@1@S@B.A.T isn't predicting a postponement because the units "are quality businesses and we are encouraged by the breadth of inquiries," said Mr. Prideaux.@@@@1@23@@oe@2-2-2013
21802025@unknown@formal@none@1@S@But the delay could happen if B.A.T doesn't get adequate bids, he said.@@@@1@13@@oe@2-2-2013
21802026@unknown@formal@none@1@S@People familiar with B.A.T say possible acquirers for the units include managers from both retailing chains, and General Cinema Corp., which is interested in bidding for Saks.@@@@1@27@@oe@2-2-2013
21802027@unknown@formal@none@1@S@Other potential bidders for parts of B.A.T's U.S. retail unit include Dillard Department Stores Inc., May Department Stores Co. and Limited Inc.@@@@1@22@@oe@2-2-2013
21802028@unknown@formal@none@1@S@B.A.T has declined to identify the potential bidders.@@@@1@8@@oe@2-2-2013
21802029@unknown@formal@none@1@S@Though Sir James has said he intends to mount a new bid for B.A.T once approval from U.S. insurance regulators is received, jitters over prospects for junk-bond financing and U.S. leverage buy-outs are making investors more skeptical about Sir James's prospects.@@@@1@41@@oe@2-2-2013
21802030@unknown@formal@none@1@S@His initial offer indicated he needed to raise as much as 80% of the takeover financing through the debt markets.@@@@1@20@@oe@2-2-2013
21802031@unknown@formal@none@1@S@Market uncertainty also clouds the outlook for B.A.T's attracting a premium price for its U.S. retailing properties.@@@@1@17@@oe@2-2-2013
21802032@unknown@formal@none@1@S@Finally, Tuesday's California earthquake initially knocked 3.7% off B.A.T's share price in London yesterday because of fears of the potential claims to Los Angeles-based Farmers, which has a substantial portion of its property and casualty exposure in California.@@@@1@38@@oe@2-2-2013
21802033@unknown@formal@none@1@S@On Farmers, Mr. Prideaux said it is too early to quantify the level of potential claims.@@@@1@16@@oe@2-2-2013
21802034@unknown@formal@none@1@S@He added B.A.T "has no expectation of a material impact on Farmers.@@@@1@12@@oe@2-2-2013
21803001@unknown@formal@none@1@S@Bridge and highway collapses will disrupt truck and auto transportation in the San Francisco Bay area for months to come.@@@@1@20@@oe@2-2-2013
21803002@unknown@formal@none@1@S@But rail, air and ocean-shipping links to the area escaped Tuesday's earthquake with only minor damage, and many are expected to be operating normally today, government and corporate transport officials said.@@@@1@31@@oe@2-2-2013
21803003@unknown@formal@none@1@S@Air traffic at San Francisco International Airport was running about 50% of normal yesterday afternoon, but airport officals said they expect a return to full operations by Saturday.@@@@1@28@@oe@2-2-2013
21803004@unknown@formal@none@1@S@The major gateway to Asia and one of the nation's 10 busiest airports was closed to all but emergency traffic from the time the quake hit Tuesday afternoon, until 6 a.m. PDT yesterday when controllers returned to the tower.@@@@1@39@@oe@2-2-2013
21803005@unknown@formal@none@1@S@Getting to and from the airport in coming weeks may be the problem, however.@@@@1@14@@oe@2-2-2013
21803006@unknown@formal@none@1@S@"People's ability to drive throughout the bay area is greatly restricted," said a spokesman for the American Automobile Association.@@@@1@19@@oe@2-2-2013
21803007@unknown@formal@none@1@S@Tom Schumacher, executive vice president and general manager of the California Trucking Association in Sacremento, said his organization urged trucking firms to halt all deliveries into the Bay area yesterday, except for emergency-medical supplies.@@@@1@34@@oe@2-2-2013
21803008@unknown@formal@none@1@S@"Some foodstuff shipments will probably resume Thursday," he said.@@@@1@9@@oe@2-2-2013
21803009@unknown@formal@none@1@S@"Right now most of the roads into the Bay area are closed, but the list of closings changes about every 20 minutes.@@@@1@22@@oe@2-2-2013
21803010@unknown@formal@none@1@S@This {Wednesday} morning the San Mateo bridge was open and now we are informed that it is closed," Mr. Schumacher said.@@@@1@21@@oe@2-2-2013
21803011@unknown@formal@none@1@S@United Parcel Service, Greenwich, Conn., said its operations in the San Francisco area have been reduced to 40% of normal.@@@@1@20@@oe@2-2-2013
21803012@unknown@formal@none@1@S@A UPS spokesman said that although none of the company's terminals, trucks or airplanes were damaged in the quake, road shutdowns and power failures have impeded its pickup and delivery of packages.@@@@1@32@@oe@2-2-2013
21803013@unknown@formal@none@1@S@The spokesman noted four-hour to five-hour traffic delays on the San Mateo bridge, for example.@@@@1@15@@oe@2-2-2013
21803014@unknown@formal@none@1@S@In addition, power failures prevented its package-sorting facilities from operating, causing delays.@@@@1@12@@oe@2-2-2013
21803015@unknown@formal@none@1@S@But freight railroads reported that damage to their facilities was relatively minor, with Santa Fe Pacific Corp.'s rail unit the least affected by the quake.@@@@1@25@@oe@2-2-2013
21803016@unknown@formal@none@1@S@Santa Fe stopped freight trains Tuesday night while its officials inspected track but resumed service at 10:45 p.m. when they found no damage.@@@@1@23@@oe@2-2-2013
21803017@unknown@formal@none@1@S@Union Pacific Corp.'s rail unit said that except for damage to shipping containers in its Oakland yard, its track, bridges and structures were unharmed.@@@@1@24@@oe@2-2-2013
21803018@unknown@formal@none@1@S@That railroad is operating trains but with delays caused by employees unable to get to work.@@@@1@16@@oe@2-2-2013
21803019@unknown@formal@none@1@S@Southern Pacific Transportation Co., the hardest hit of the three railroads in the Bay area, said service on its north-south coastline, which is used by an Amtrak train between Los Angeles and Seattle, was suspended temporarily because of kinked rails near the epicenter of the quake.@@@@1@46@@oe@2-2-2013
21803020@unknown@formal@none@1@S@But service on the line is expected to resume by noon today.@@@@1@12@@oe@2-2-2013
21803021@unknown@formal@none@1@S@"We had no serious damage on the railroad," said a Southern Pacific spokesman.@@@@1@13@@oe@2-2-2013
21803022@unknown@formal@none@1@S@"We have no problem to our freight service at all expect for the fact businesses are shut down."@@@@1@18@@oe@2-2-2013
21803023@unknown@formal@none@1@S@Amtrak said it suspended train service into its Oakland station, which sustained "heavy structural damage" during the quake.@@@@1@18@@oe@2-2-2013
21803024@unknown@formal@none@1@S@The passenger railroad said it terminated some runs in Sacramento, relying on buses to ferry passengers to the Bay area.@@@@1@20@@oe@2-2-2013
21803025@unknown@formal@none@1@S@Amtrak said it planned to resume some train operations to Oakland late yesterday.@@@@1@13@@oe@2-2-2013
21803026@unknown@formal@none@1@S@Rail-transit operations suffered little damage, according to Albert Engelken, deputy executive director of the American Public Transit Association in Washington.@@@@1@20@@oe@2-2-2013
21803027@unknown@formal@none@1@S@The Bay Area Rapid Transit "withstood the earthquake perfectly," said Mr. Engelken, adding that the rail system was running a full fleet of 45 trains during the day to provide an alternative for highway travelers.@@@@1@35@@oe@2-2-2013
21803028@unknown@formal@none@1@S@"The highway system is screwed up" by the earthquake, Mr. Engelken said.@@@@1@12@@oe@2-2-2013
21803029@unknown@formal@none@1@S@"The transit system is how people are going to be getting around."@@@@1@12@@oe@2-2-2013
21803030@unknown@formal@none@1@S@He added that San Francisco's trolley cars and trolley buses were also running at full service levels.@@@@1@17@@oe@2-2-2013
21803031@unknown@formal@none@1@S@Although air-traffic delays in San Francisco were significant yesterday, they didn't appear to spread to other airports.@@@@1@17@@oe@2-2-2013
21803032@unknown@formal@none@1@S@The earthquake shattered windows at San Francisco International's air-traffic control tower and rained pieces of the ceiling down on controllers, three of whom suffered minor injuries.@@@@1@26@@oe@2-2-2013
21803033@unknown@formal@none@1@S@Terminals at San Francisco International also were damaged, but the tower itself was intact.@@@@1@14@@oe@2-2-2013
21803034@unknown@formal@none@1@S@Tuesday night, thousands were diverted to other airports and had to wait a day to resume travel.@@@@1@17@@oe@2-2-2013
21803035@unknown@formal@none@1@S@Runways at San Francisco weren't damaged, but traffic was being limited yesterday to 27 arrivals and 27 departures an hour -- down from 33 to 45 an hour normally -- mainly because the noise level in the control tower was overwhelming without the windows, an FAA spokeswoman said.@@@@1@48@@oe@2-2-2013
21803036@unknown@formal@none@1@S@While the airport was closed, flights were diverted to airports in Sacramento and Stockton, Calif.; Reno and Las Vegas, Nev.; and Los Angeles.@@@@1@23@@oe@2-2-2013
21803037@unknown@formal@none@1@S@United Airlines, the largest carrier at San Francisco, was operating only 50% of its scheduled service in and out of the area because of damage to its terminal, which in turn was causing delays for travelers headed to the Bay area.@@@@1@41@@oe@2-2-2013
21803038@unknown@formal@none@1@S@A United spokesman said 14 of its 21 gates were unusable, mainly because of water damage caused when a sprinkler system was triggered by the tremors.@@@@1@26@@oe@2-2-2013
21803039@unknown@formal@none@1@S@The United spokesman said none of its people were injured at the airport; in fact, as the airport was being evacuated Tuesday night, two babies were born.@@@@1@27@@oe@2-2-2013
21803040@unknown@formal@none@1@S@Yesterday, the United ticket counter was active, with people trying to get flights out, but the airline said demand for seats into the city also was active, with people trying to get there to help family and friends.@@@@1@38@@oe@2-2-2013
21803041@unknown@formal@none@1@S@The airports in San Jose and Oakland were both fully operational by noon yesterday, the Federal Aviation Administration said.@@@@1@19@@oe@2-2-2013
21803042@unknown@formal@none@1@S@In terms of diversions, Denver's Stapleton International may have experienced the most far-flung: A United flight from Japan was rerouted there.@@@@1@21@@oe@2-2-2013
21803043@unknown@formal@none@1@S@"I think that's the first nonstop commercial passenger flight from Japan to land here," an airport spokesman said.@@@@1@18@@oe@2-2-2013
21803044@unknown@formal@none@1@S@A Japan Air Lines spokesman said its flights into and out of San Francisco weren't affected, but getting information about its operations was difficult.@@@@1@24@@oe@2-2-2013
21803045@unknown@formal@none@1@S@Its telecommunications headquarters in Burlingame, Calif., had been knocked out since the quake.@@@@1@13@@oe@2-2-2013
21803046@unknown@formal@none@1@S@"We're in the dark," he said.@@@@1@6@@oe@2-2-2013
21804001@unknown@formal@none@1@S@Whitbread & Co. put its spirits division up for sale, triggering a scramble among global groups for the British company's brands.@@@@1@21@@oe@2-2-2013
21804002@unknown@formal@none@1@S@Whitbread already has been approached by "about half a dozen" companies interested in buying all or part of the spirits business, a spokesman said.@@@@1@24@@oe@2-2-2013
21804003@unknown@formal@none@1@S@Analysts expect the spirits operations and some California vineyards that also are being sold to fetch about #500 million ($788.8 million).@@@@1@21@@oe@2-2-2013
21804004@unknown@formal@none@1@S@Among the brands for sale are Beefeater gin, the No. 2 imported gin in the U.S., and Laphroaig single-malt whiskey.@@@@1@20@@oe@2-2-2013
21804005@unknown@formal@none@1@S@Also for sale are Buckingham Wile Co., which distributes Cutty Sark blended whiskey in the U.S., and Whitbread's Atlas Peak Vineyards in California's Napa Valley.@@@@1@25@@oe@2-2-2013
21804006@unknown@formal@none@1@S@Beefeater alone is worth as much as #300 million, analysts said.@@@@1@11@@oe@2-2-2013
21804007@unknown@formal@none@1@S@Whitbread bought the Beefeater distillery two years ago for #174.5 million.@@@@1@11@@oe@2-2-2013
21804008@unknown@formal@none@1@S@That purchase represented an attempt by Whitbread, a venerable British brewer, to become a major player in the global liquor business.@@@@1@21@@oe@2-2-2013
21804009@unknown@formal@none@1@S@But Whitbread has been squeezed by giant rivals amid widespread consolidation in the industry.@@@@1@14@@oe@2-2-2013
21804010@unknown@formal@none@1@S@Now, it wants to concentrate on beer and its newer hotel and restaurant operations.@@@@1@14@@oe@2-2-2013
21804011@unknown@formal@none@1@S@For rival liquor companies, the Whitbread auction is a rare opportunity to acquire valuable brands.@@@@1@15@@oe@2-2-2013
21804012@unknown@formal@none@1@S@"It's not very often something like this comes up," said Ron Littleboy, a liquor company analyst at Nomura Research Institute in London.@@@@1@22@@oe@2-2-2013
21804013@unknown@formal@none@1@S@"The division will be sold off quite rapidly," predicted Neill Junor, an analyst at London brokers County NatWest WoodMac.@@@@1@19@@oe@2-2-2013
21804014@unknown@formal@none@1@S@Among possible buyers, Grand Metropolitan PLC might find Beefeater a useful addition to its portfolio.@@@@1@15@@oe@2-2-2013
21804015@unknown@formal@none@1@S@Grand Met owns Bombay gin, the No. 3 imported gin in the U.S.; rival Guinness PLC has the No. 1 imported brand, Tanqueray.@@@@1@23@@oe@2-2-2013
21804016@unknown@formal@none@1@S@The Whitbread spirits auction "is an extremely interesting development . . . and naturally we'll be considering it carefully," a Grand Met spokesman said.@@@@1@24@@oe@2-2-2013
21804017@unknown@formal@none@1@S@Guinness, which owns several leading whiskey brands plus Gordon's gin, the world's No. 1 gin, is considered less likely to bid for the Whitbread spirits.@@@@1@25@@oe@2-2-2013
21804018@unknown@formal@none@1@S@A Guinness spokesman declined to comment.@@@@1@6@@oe@2-2-2013
21804019@unknown@formal@none@1@S@Two other global liquor giants, Canada's Seagram Co. and Britain's Allied-Lyons PLC, also are possible buyers.@@@@1@16@@oe@2-2-2013
21804020@unknown@formal@none@1@S@Seagram's gin is the world's No. 2 gin brand, but the company doesn't own any of the major gin brands imported in the U.S.@@@@1@24@@oe@2-2-2013
21804021@unknown@formal@none@1@S@Allied-Lyons, while powerful in whiskey, doesn't own any major white-spirit brands.@@@@1@11@@oe@2-2-2013
21804022@unknown@formal@none@1@S@"We will certainly have to take a look at" the Whitbread spirits business, an Allied-Lyons spokesman said.@@@@1@17@@oe@2-2-2013
21804023@unknown@formal@none@1@S@"We would certainly like to have a major white-spirits brand in our portfolio."@@@@1@13@@oe@2-2-2013
21804024@unknown@formal@none@1@S@A Seagram spokesman in New York wouldn't comment.@@@@1@8@@oe@2-2-2013
21804025@unknown@formal@none@1@S@Smaller liquor companies, such as Brown-Forman Corp. and American Brands Inc. of the U.S., also are likely to be interested.@@@@1@20@@oe@2-2-2013
21804026@unknown@formal@none@1@S@Such companies "are increasingly being left behind" in the global liquor business, says Nomura's Mr. Littleboy.@@@@1@16@@oe@2-2-2013
21804027@unknown@formal@none@1@S@In New York, a spokesman for American Brands wouldn't comment.@@@@1@10@@oe@2-2-2013
21804028@unknown@formal@none@1@S@Brown-Forman, a Louisville, Ky. distiller, also declined to comment.@@@@1@9@@oe@2-2-2013
21804029@unknown@formal@none@1@S@Whitbread's wine, spirits and soft-drink operations had trading profit of #35.4 million on sales of #315.5 million in the year ended Feb. 25.@@@@1@23@@oe@2-2-2013
21804030@unknown@formal@none@1@S@The company, which is retaining most of its wine and all of its soft-drink interests, didn't break out results for the businesses it plans to sell.@@@@1@26@@oe@2-2-2013
21804031@unknown@formal@none@1@S@But analysts estimate their trading profit at #30 million.@@@@1@9@@oe@2-2-2013
21804032@unknown@formal@none@1@S@Whitbread had total pretax profit in the year ended Feb. 25 of #223.2 million, on sales of #2.26 billion.@@@@1@19@@oe@2-2-2013
21804033@unknown@formal@none@1@S@Whitbread's spirits auction occurs amid a parallel shakeup in the British beer industry.@@@@1@13@@oe@2-2-2013
21804034@unknown@formal@none@1@S@Earlier this year, the government announced plans to foster increased competition in the industry.@@@@1@14@@oe@2-2-2013
21804035@unknown@formal@none@1@S@British brewers currently own thousands of pubs, which in turn sell only the breweries' beer and soft drinks.@@@@1@18@@oe@2-2-2013
21804036@unknown@formal@none@1@S@Under new rules, many of the country's pubs would become "free houses," selling beers of their choice.@@@@1@17@@oe@2-2-2013
21804037@unknown@formal@none@1@S@Whitbread now intends to bolster its brewing interests, in an effort to grab a share of sales to free houses.@@@@1@20@@oe@2-2-2013
21804038@unknown@formal@none@1@S@The company, which last month paid #50.7 million for regional British brewer Boddington Group PLC, has about 13% of the British beer market.@@@@1@23@@oe@2-2-2013
21804039@unknown@formal@none@1@S@Whitbread also owns the license to brew and distribute Heineken and Stella Artois beers in Britain.@@@@1@16@@oe@2-2-2013
21804040@unknown@formal@none@1@S@In addition, Whitbread intends to focus on its newer hotel, liquor store and restaurant businesses in Europe and North America.@@@@1@20@@oe@2-2-2013
21804041@unknown@formal@none@1@S@In Britain, those interests include the Beefeater steakhouse chain and joint ownership with PepsiCo Inc. of the country's Pizza Hut chain.@@@@1@21@@oe@2-2-2013
21804042@unknown@formal@none@1@S@In Canada and the U.S., Whitbread owns The Keg chain of steak and seafood restaurants.@@@@1@15@@oe@2-2-2013
21804043@unknown@formal@none@1@S@Focusing on beer, restaurants and hotels means "we can concentrate our skills and resources more effectively," Peter Jarvis, Whitbread's managing director, said in a statement.@@@@1@25@@oe@2-2-2013
21804044@unknown@formal@none@1@S@The spirits business "would require substantial additional investment to enable it to compete effectively in the first division of global players."@@@@1@21@@oe@2-2-2013
21804045@unknown@formal@none@1@S@Whitbread also announced that Mr. Jarvis, who is 48, will become the company's chief executive March 1.@@@@1@17@@oe@2-2-2013
21804046@unknown@formal@none@1@S@At that time Sam Whitbread, the company's chairman and a descendant of its 18th-century founder, will retire from executive duties.@@@@1@20@@oe@2-2-2013
21804047@unknown@formal@none@1@S@He will retain the honorary title of non-executive chairman.@@@@1@9@@oe@2-2-2013
21805001@unknown@formal@none@1@S@The Treasury plans to raise $700 million in new cash with the sale Tuesday of about $10 billion in two-year notes to redeem $9.29 billion in maturing notes.@@@@1@28@@oe@2-2-2013
21805002@unknown@formal@none@1@S@The offering will be dated Oct. 31 and mature Oct. 31,@@@@1@11@@oe@2-2-2013
21805003@unknown@formal@none@1@S@Tenders for the notes, available in minimum $5,000 denominations, must be received by 1 p.m. EDT Tuesday at the Treasury or at Federal Reserve banks or branches.@@@@1@27@@oe@2-2-2013
21806001@unknown@formal@none@1@S@NEWHALL LAND & FARMING Co., Valencia, Calif., announced a 2-for-1 split in the real estate limited partnership's units and increased its regular quarterly cash distribution 33%, to 40 cents a unit.@@@@1@31@@oe@2-2-2013
21806002@unknown@formal@none@1@S@The real estate limited partnership also said it will pay a special year-end cash distribution of 10 cents a unit.@@@@1@20@@oe@2-2-2013
21806003@unknown@formal@none@1@S@Both distributions are payable Dec. 4 to limited partners of record Nov. 3.@@@@1@13@@oe@2-2-2013
21807001@unknown@formal@none@1@S@Mellon Bank Corp. said directors authorized the buy-back of as many as 250,000 common shares.@@@@1@15@@oe@2-2-2013
21807002@unknown@formal@none@1@S@The bank holding company said stock repurchased will be used to meet requirements for the company's benefit plans.@@@@1@18@@oe@2-2-2013
21807003@unknown@formal@none@1@S@Mellon has 36.6 million shares outstanding.@@@@1@6@@oe@2-2-2013
21808001@unknown@formal@none@1@S@Champion International Corp.'s third-quarter profit dropped 17%, reflecting price declines for certain paper products, operating problems at certain mills, and other factors.@@@@1@22@@oe@2-2-2013
21808002@unknown@formal@none@1@S@The paper producer reported that net income fell to $102.1 million, or $1.09 a share, from $122.4 million, or $1.29 a share, in the year-earlier period.@@@@1@26@@oe@2-2-2013
21808003@unknown@formal@none@1@S@Sales rose 2.6% to $1.32 billion from $1.29 billion.@@@@1@9@@oe@2-2-2013
21808004@unknown@formal@none@1@S@In New York Stock Exchange composite trading, Champion's shares rose 25 cents to $32.125.@@@@1@14@@oe@2-2-2013
21809001@unknown@formal@none@1@S@Digital Equipment Corp. is planning a big coming-out party on Tuesday for its first line of mainframe computers.@@@@1@18@@oe@2-2-2013
21809002@unknown@formal@none@1@S@But an uninvited guest is expected to try to crash the party.@@@@1@12@@oe@2-2-2013
21809003@unknown@formal@none@1@S@On the morning of the long-planned announcement, International Business Machines Corp. is to introduce its own new mainframe.@@@@1@18@@oe@2-2-2013
21809004@unknown@formal@none@1@S@"Their attitude is, `You want to talk mainframes, we'll talk mainframes,'" says one computer industry executive.@@@@1@16@@oe@2-2-2013
21809005@unknown@formal@none@1@S@"They're deliberately trying to steal our thunder," a Digital executive complains.@@@@1@11@@oe@2-2-2013
21809006@unknown@formal@none@1@S@"Maybe we should take it as a compliment."@@@@1@8@@oe@2-2-2013
21809007@unknown@formal@none@1@S@Digital's target is the $40 billion market for mainframe computers, the closet-sized number-crunchers that nearly every big company needs to run its business.@@@@1@23@@oe@2-2-2013
21809008@unknown@formal@none@1@S@IBM, based in Armonk, N.Y., has dominated the market for decades.@@@@1@11@@oe@2-2-2013
21809009@unknown@formal@none@1@S@That doesn't scare Digital, which has grown to be the world's second-largest computer maker by poaching customers of IBM's mid-range machines.@@@@1@21@@oe@2-2-2013
21809010@unknown@formal@none@1@S@Digital, based in Maynard, Mass., hopes to stage a repeat performance in mainframes, and it has spent almost $1 billion developing the new technology.@@@@1@24@@oe@2-2-2013
21809011@unknown@formal@none@1@S@A spoiler, nimble Tandem Computers Inc. in Cupertino, Calif., jumped into the fray earlier this week with an aggressively priced entry.@@@@1@21@@oe@2-2-2013
21809012@unknown@formal@none@1@S@IBM appears more worried about Digital, which has a broad base of customers waiting for the new line, dubbed the VAX 9000.@@@@1@22@@oe@2-2-2013
21809013@unknown@formal@none@1@S@"It's going to be nuclear war," says Thomas Willmott, a consultant with Aberdeen Group Inc.@@@@1@15@@oe@2-2-2013
21809014@unknown@formal@none@1@S@The surge in competition is expected to stir new life into the huge mainframe market, where growth has slowed to single digits in recent years.@@@@1@25@@oe@2-2-2013
21809015@unknown@formal@none@1@S@IBM's traditional mainframe rivals, including Unisys Corp., Control Data Corp. and NCR Corp., have struggled recently.@@@@1@16@@oe@2-2-2013
21809016@unknown@formal@none@1@S@Digital is promising a new approach.@@@@1@6@@oe@2-2-2013
21809017@unknown@formal@none@1@S@Robert M. Glorioso, Digital's vice president for high performance systems, says Digital's mainframe is designed not as a central computer around which everything revolves, but as part of a decentralized network weaving together hundreds of workstations, personal computers, printers and other devices.@@@@1@42@@oe@2-2-2013
21809018@unknown@formal@none@1@S@And unlike IBM's water-cooled mainframes, it doesn't need any plumbing.@@@@1@10@@oe@2-2-2013
21809019@unknown@formal@none@1@S@The challengers will have a big price advantage.@@@@1@8@@oe@2-2-2013
21809020@unknown@formal@none@1@S@Digital is expected to tag its new line from about $1.24 million to $4.4 million and up, depending on configuration.@@@@1@20@@oe@2-2-2013
21809021@unknown@formal@none@1@S@That's about half the price of comparably equipped IBM mainframes.@@@@1@10@@oe@2-2-2013
21809022@unknown@formal@none@1@S@Tandem's pricing is just as aggressive.@@@@1@6@@oe@2-2-2013
21809023@unknown@formal@none@1@S@The heightened competition will hit IBM at a difficult time.@@@@1@10@@oe@2-2-2013
21809024@unknown@formal@none@1@S@The computer giant's current mainframe line, which has sold well and has huge profit margins, is starting to show its age.@@@@1@21@@oe@2-2-2013
21809025@unknown@formal@none@1@S@The new 3090s due next week will boost performance by only about 8% to 10%.@@@@1@15@@oe@2-2-2013
21809026@unknown@formal@none@1@S@And IBM isn't expected to deliver a new generation of mainframes until 1991.@@@@1@13@@oe@2-2-2013
21809027@unknown@formal@none@1@S@Still, no one expects IBM's rivals to deliver a knockout.@@@@1@10@@oe@2-2-2013
21809028@unknown@formal@none@1@S@IBM has a near-monopoly on mainframes, with an estimated 70% share of the market.@@@@1@14@@oe@2-2-2013
21809029@unknown@formal@none@1@S@IBM is five times the size of Digital -- and 40 times the size of Tandem -- and wields enormous market power.@@@@1@22@@oe@2-2-2013
21809030@unknown@formal@none@1@S@It counts among its customers a majority of the world's largest corporations, which entrust their most critical business information to IBM computers.@@@@1@22@@oe@2-2-2013
21809031@unknown@formal@none@1@S@"We're not going to walk in and replace a company's corporate accounting system if it's already running on an IBM mainframe," concedes Kenneth H. Olsen, Digital's president.@@@@1@27@@oe@2-2-2013
21809032@unknown@formal@none@1@S@He says Digital will target faster-growing market segments such as on-line transaction processing, which includes retail-sales tracking, airline reservations and bank-teller networks.@@@@1@22@@oe@2-2-2013
21809033@unknown@formal@none@1@S@Tandem, which already specializes in on-line transaction processing, is a potent competitor in that market.@@@@1@15@@oe@2-2-2013
21809034@unknown@formal@none@1@S@A key marketing target for Digital will be the large number of big customers who already own both Digital and IBM systems.@@@@1@22@@oe@2-2-2013
21809035@unknown@formal@none@1@S@One such company is Bankers Trust Co.@@@@1@7@@oe@2-2-2013
21809036@unknown@formal@none@1@S@Stanley Rose, a vice president, technological and strategic planning at Bankers Trust, says that despite Digital's low prices, "we aren't about to unplug our IBM mainframes for a DEC machine.@@@@1@30@@oe@2-2-2013
21809037@unknown@formal@none@1@S@The software conversion costs would dwarf any savings."@@@@1@8@@oe@2-2-2013
21809038@unknown@formal@none@1@S@But Mr. Rose is still looking seriously at the 9000.@@@@1@10@@oe@2-2-2013
21809039@unknown@formal@none@1@S@Bankers Trust uses Digital's VAX to run its huge money-transfer and capital markets accounts, juggling hundreds of billions of dollars each day, he says.@@@@1@24@@oe@2-2-2013
21809040@unknown@formal@none@1@S@As that system grows, larger computers may be needed.@@@@1@9@@oe@2-2-2013
21809041@unknown@formal@none@1@S@"In the past, customers had to go to IBM when they outgrew the VAX.@@@@1@14@@oe@2-2-2013
21809042@unknown@formal@none@1@S@Now they don't have to," he says.@@@@1@7@@oe@2-2-2013
21809043@unknown@formal@none@1@S@"That's going to cost IBM revenue."@@@@1@6@@oe@2-2-2013
21809044@unknown@formal@none@1@S@Analysts say Digital can expect this pent-up demand for the new VAX to fuel strong sales next year.@@@@1@18@@oe@2-2-2013
21809045@unknown@formal@none@1@S@Barry F. Willman, an analyst at Sanford C. Bernstein & Co., estimates the 9000 could boost sales by more than $1 billion in the fiscal year beginning in July.@@@@1@29@@oe@2-2-2013
21809046@unknown@formal@none@1@S@He bases the estimate on a survey of hundreds of Digital's largest customers.@@@@1@13@@oe@2-2-2013
21809047@unknown@formal@none@1@S@Although Digital will announce a full family of mainframes next week, it isn't expected to begin shipping in volume until next year.@@@@1@22@@oe@2-2-2013
21809048@unknown@formal@none@1@S@The first model available will be the 210, which is likely to appeal to many technical and scientific buyers interested in the optional super-charger, or vector processor, says Terry Shannon of International Data Corp., a market research concern.@@@@1@38@@oe@2-2-2013
21809049@unknown@formal@none@1@S@Four more models, aimed squarely at IBM's commercial customers, are expected to begin shipping in late June.@@@@1@17@@oe@2-2-2013
21809050@unknown@formal@none@1@S@Most analysts don't expect the new mainframes to begin contributing significantly to revenue before the fiscal first quarter, which begins next July 1.@@@@1@23@@oe@2-2-2013
21809051@unknown@formal@none@1@S@Digital's new line has been a long time coming.@@@@1@9@@oe@2-2-2013
21809052@unknown@formal@none@1@S@The company has long struggled to deliver a strong mainframe-class product, and made a costly decision in 1988 to halt development of an interim product meant to stem the revenue losses at the high end.@@@@1@35@@oe@2-2-2013
21809053@unknown@formal@none@1@S@Digital's failure to deliver a true mainframe-class machine before now may have cost the company as much as $1 billion in revenue in fiscal 1989, Mr. Willman says.@@@@1@28@@oe@2-2-2013
21809054@unknown@formal@none@1@S@IBM will face still more competition in coming months.@@@@1@9@@oe@2-2-2013
21809055@unknown@formal@none@1@S@Amdahl Corp., backed by Japan's Fujitsu Ltd., has a growing share of the market with its low-priced, IBM-compatible machines.@@@@1@19@@oe@2-2-2013
21809056@unknown@formal@none@1@S@And National Advanced Systems, a joint venture of Japan's Hitachi Ltd. and General Motors Corp.'s Electronic Data Systems, is expected to unveil a line of powerful IBM-compatible mainframes later this year.@@@@1@31@@oe@2-2-2013
21809057@unknown@formal@none@1@S@NOTE:@@@@1@1@@oe@2-2-2013
21809058@unknown@formal@none@1@S@NAS is National Advanced Systems, CDC -- Control Data Corp., Bull NH Information Systems Inc.@@@@1@15@@oe@2-2-2013
21809059@unknown@formal@none@1@S@Source: International Data Corp.@@@@1@4@@oe@2-2-2013
21809060@unknown@formal@none@1@S@Compiled by Publishers Weekly from data from large-city bookstores, bookstore chains and local bestseller lists across the U.S.@@@@1@18@@oe@2-2-2013
21809061@unknown@formal@none@1@S@Copyright 1989 by Reed Publishing USA.@@@@1@6@@oe@2-2-2013
21810001@unknown@formal@none@1@S@The frenetic stock and bond markets cooled off, but the dollar slumped.@@@@1@12@@oe@2-2-2013
21810002@unknown@formal@none@1@S@Stocks rose slightly as trading activity slowed from the frenzied pace earlier this week.@@@@1@14@@oe@2-2-2013
21810003@unknown@formal@none@1@S@Prices of long-term Treasury bonds hovered in a narrow band most of the day, finishing little changed despite the dollar's weakness and fears about a wave of government borrowing coming soon.@@@@1@31@@oe@2-2-2013
21810004@unknown@formal@none@1@S@Helped by futures-related program buying, the Dow Jones Industrial Average gained 4.92 points to close at 2643.65.@@@@1@17@@oe@2-2-2013
21810005@unknown@formal@none@1@S@But the Dow Jones Transportation Average fell for the seventh-consecutive session as more investors dumped UAL shares.@@@@1@17@@oe@2-2-2013
21810006@unknown@formal@none@1@S@Bond prices rallied early yesterday morning as traders scrambled to buy Treasury issues on fears that the Northern California earthquake might lead to a stock-market debacle.@@@@1@26@@oe@2-2-2013
21810007@unknown@formal@none@1@S@But when stocks held steady, Treasury bonds later retreated.@@@@1@9@@oe@2-2-2013
21810008@unknown@formal@none@1@S@Speculation that the Federal Reserve will lower interest rates in coming weeks helped push the dollar down while boosting stocks, traders said.@@@@1@22@@oe@2-2-2013
21810009@unknown@formal@none@1@S@But many investors remain wary about stocks, partly because they expect continued turbulence in the junk-bond market that would make it more difficult to finance corporate takeovers.@@@@1@27@@oe@2-2-2013
21810010@unknown@formal@none@1@S@"I'm surprised we didn't see more volatility" in stocks, said Raymond F. DeVoe Jr., market strategist at Legg Mason Wood Walker.@@@@1@21@@oe@2-2-2013
21810011@unknown@formal@none@1@S@"I think the problems in the junk-bond area are just beginning, and this will be very unsettling for companies that have issued junk bonds.@@@@1@24@@oe@2-2-2013
21810012@unknown@formal@none@1@S@In a bull market, credit does not matter," Mr. DeVoe added.@@@@1@11@@oe@2-2-2013
21810013@unknown@formal@none@1@S@"But when it does matter, then it's the only thing that matters."@@@@1@12@@oe@2-2-2013
21810014@unknown@formal@none@1@S@However, many institutional investors are reacting to the stock market's plunge as "a great buying opportunity," said Charles I. Clough, chief investment strategist at Merrill Lynch Capital Markets.@@@@1@28@@oe@2-2-2013
21810015@unknown@formal@none@1@S@"Things are beginning to settle down.@@@@1@6@@oe@2-2-2013
21810016@unknown@formal@none@1@S@The markets are returning to normalcy."@@@@1@6@@oe@2-2-2013
21810017@unknown@formal@none@1@S@Oil prices initially rose on fears that the massive earthquake in Northern California would disrupt production.@@@@1@16@@oe@2-2-2013
21810018@unknown@formal@none@1@S@But prices later reversed course, finishing slightly lower, as investors concluded that any cuts wouldn't be large and that foreign oil producers would quickly pick up the slack.@@@@1@28@@oe@2-2-2013
21810019@unknown@formal@none@1@S@In major market activity:@@@@1@4@@oe@2-2-2013
21810020@unknown@formal@none@1@S@Stock prices rose.@@@@1@3@@oe@2-2-2013
21810021@unknown@formal@none@1@S@New York Stock Exchange volume shrank to 166.9 million shares from 224.1 million Tuesday.@@@@1@14@@oe@2-2-2013
21810022@unknown@formal@none@1@S@Advancers on the Big Board outpaced decliners by 822 to 668.@@@@1@11@@oe@2-2-2013
21810023@unknown@formal@none@1@S@Bond prices were little changed in sluggish activity.@@@@1@8@@oe@2-2-2013
21810024@unknown@formal@none@1@S@The yield on the Treasury's 30-year issue fell slightly to 8.03%.@@@@1@11@@oe@2-2-2013
21810025@unknown@formal@none@1@S@The dollar dropped.@@@@1@3@@oe@2-2-2013
21810026@unknown@formal@none@1@S@In New York late yesterday, the currency was at 141.45 yen and 1.8485 marks, down from 142.75 yen and 1.8667 marks late Tuesday.@@@@1@23@@oe@2-2-2013
21811001@unknown@formal@none@1@S@James L. Madson, 46 years old, was named a vice president and assistant general manager of this producer of copper and other minerals.@@@@1@23@@oe@2-2-2013
21811002@unknown@formal@none@1@S@He will succeed Arthur E. Himebaugh as general manager Feb. 1, when Mr. Himebaugh retires.@@@@1@15@@oe@2-2-2013
21812001@unknown@formal@none@1@S@AMR Corp. posted an 8.8% drop in third-quarter net income and said the fourth quarter will be "disappointing" as well, primarily because of slimmer profit margins and increased fuel costs.@@@@1@30@@oe@2-2-2013
21812002@unknown@formal@none@1@S@AMR's earnings decline comes a year after the parent company of American Airlines and the rest of the airline industry set profit records.@@@@1@23@@oe@2-2-2013
21812003@unknown@formal@none@1@S@Some analysts say the latest results only seem pale by comparison with a spectacular second half of 1988.@@@@1@18@@oe@2-2-2013
21812004@unknown@formal@none@1@S@Still, AMR's stumble doesn't bode well for the rest of the industry.@@@@1@12@@oe@2-2-2013
21812005@unknown@formal@none@1@S@The Fort Worth, Texas, company is generally regarded as one of the best-run in the business, and its difficulties are likely to be reflected industrywide as other major carriers report third-quarter results over the next several days.@@@@1@37@@oe@2-2-2013
21812006@unknown@formal@none@1@S@Meanwhile, the company's board, which had said nothing publicly about investor Donald Trump's recently withdrawn $7.5 billion offer for AMR, issued a statement condemning "ill-conceived and reckless" bids and saying it was "pleased" that Mr. Trump had backed out.@@@@1@39@@oe@2-2-2013
21812007@unknown@formal@none@1@S@In the third quarter, AMR said, net fell to $137 million, or $2.16 a share, from $150.3 million, or $2.50 a share.@@@@1@22@@oe@2-2-2013
21812008@unknown@formal@none@1@S@Revenue rose 17% to $2.73 billion from $2.33 billion a year earlier.@@@@1@12@@oe@2-2-2013
21812009@unknown@formal@none@1@S@AMR's chairman, Robert L. Crandall, said the results were due to an 11% year-to-year increase in fuel prices and a slight decrease in yield, an industry measure analogous to profit margin on each seat sold.@@@@1@35@@oe@2-2-2013
21812010@unknown@formal@none@1@S@"We think these trends will continue and will produce a very disappointing fourth quarter as well," he said.@@@@1@18@@oe@2-2-2013
21812011@unknown@formal@none@1@S@Tim Pettee, an analyst with Merrill Lynch & Co., said: "The business turned faster than expected.@@@@1@16@@oe@2-2-2013
21812012@unknown@formal@none@1@S@Costs are giving them a little bit of trouble, and the whole industry is having a pricing problem."@@@@1@18@@oe@2-2-2013
21812013@unknown@formal@none@1@S@For the nine months, AMR's net rose 15% to $415.9 million, or $6.59 a share, from $360.1 million, or $5.99 a share.@@@@1@22@@oe@2-2-2013
21812014@unknown@formal@none@1@S@Revenue jumped 22% to $7.89 billion from $6.46 billion.@@@@1@9@@oe@2-2-2013
21812015@unknown@formal@none@1@S@AMR's board, in a statement after a regular meeting yesterday, said: "Ill-considered and reckless acquisition proposals adversely affect employee, financial and business relationships and are contrary to the best interests of AMR shareholders. . . .@@@@1@36@@oe@2-2-2013
21812016@unknown@formal@none@1@S@AMR has not been, and is not, for sale."@@@@1@9@@oe@2-2-2013
21812017@unknown@formal@none@1@S@Mr. Crandall said the company's current decline in earnings is exactly the kind of situation that an excessively leveraged company laden with debt from a takeover would find difficult to weather.@@@@1@31@@oe@2-2-2013
21812018@unknown@formal@none@1@S@"Our very disappointing third-quarter results and the discouraging outlook for the fourth quarter underscore the importance of an adequate capital base," he said.@@@@1@23@@oe@2-2-2013
21813001@unknown@formal@none@1@S@Christopher Whittington, 51-year-old deputy chairman of this British investment-banking group and chairman of Morgan Grenfell & Co., the group's main banking unit, has retired from his executive duties.@@@@1@28@@oe@2-2-2013
21813002@unknown@formal@none@1@S@Succeeding Mr. Whittington as deputy chairman of the group is Anthony Richmond-Watson, 43, currently a main board member.@@@@1@18@@oe@2-2-2013
21813003@unknown@formal@none@1@S@Succeeding Mr. Whittington at Morgan Grenfell & Co. is Richard Webb, 50, currently deputy chairman.@@@@1@15@@oe@2-2-2013
21813004@unknown@formal@none@1@S@Mr. Whittington will remain on the main group board as a nonexecutive director.@@@@1@13@@oe@2-2-2013
21814001@unknown@formal@none@1@S@Without federal subsidies to developers of beach houses, the economic and structural damage by Hurricane Hugo in South Carolina would have been much less, as highlighted by your Oct. 3 editorial "Subsidizing Disaster."@@@@1@33@@oe@2-2-2013
21814002@unknown@formal@none@1@S@Congress should stop throwing tax dollars out to sea by subsidizing the development of beach communities on ecologically fragile coastal barrier islands, such as the hard-hit Isle of Palms near Charleston.@@@@1@31@@oe@2-2-2013
21814003@unknown@formal@none@1@S@As you mentioned, subsidies for development on a number of barrier islands were curtailed in 1982 by the Coastal Barrier Resource System.@@@@1@22@@oe@2-2-2013
21814004@unknown@formal@none@1@S@The National Taxpayers Union would like Congress to add 800,000 acres to the 453,000 of shoreline in the system by enacting "The Coastal Barrier Improvement Act of 1989."@@@@1@28@@oe@2-2-2013
21814005@unknown@formal@none@1@S@This bill simply says that if you want to develop property on a barrier island you have to do so without taxpayer support.@@@@1@23@@oe@2-2-2013
21814006@unknown@formal@none@1@S@Private-property rights would be upheld because the legislation would not ban coastal development.@@@@1@13@@oe@2-2-2013
21814007@unknown@formal@none@1@S@However, home builders would have to bear the full costs of such beach-house construction.@@@@1@14@@oe@2-2-2013
21814008@unknown@formal@none@1@S@A Taxpayers Union study concluded the bill would save taxpayers up to $9.3 billion in barrier-island subsidies over 20 years.@@@@1@20@@oe@2-2-2013
21814009@unknown@formal@none@1@S@Already, the 1982 legislation has saved an estimated $800 million.@@@@1@10@@oe@2-2-2013
21814010@unknown@formal@none@1@S@Marshall Y. Taylor@@@@1@3@@oe@2-2-2013
21814011@unknown@formal@none@1@S@Communications Director@@@@1@2@@oe@2-2-2013
21814012@unknown@formal@none@1@S@National Taxpayers Union@@@@1@3@@oe@2-2-2013
21815001@unknown@formal@none@1@S@The government said 13.1% of Americans, or 31.9 million people, were living in poverty in 1988.@@@@1@16@@oe@2-2-2013
21815002@unknown@formal@none@1@S@While last year's figure was down from 13.4% in 1987 and marked the fifth consecutive annual decline in the poverty rate, the Census Bureau said the 1988 drop wasn't statistically significant.@@@@1@31@@oe@2-2-2013
21815003@unknown@formal@none@1@S@The bureau's report also showed that while some measures of the nation's economic well-being improved modestly in 1988, the fruits of prosperity were shared less equitably than the year before.@@@@1@30@@oe@2-2-2013
21815004@unknown@formal@none@1@S@Summarizing data derived from a March 1989 survey of 58,000 households, William Butz, associate director of the Census Bureau, said that "most groups either stayed the same or improved."@@@@1@29@@oe@2-2-2013
21815005@unknown@formal@none@1@S@But, he added, "Since the late 1960s, the distribution of income has been slowly getting less equal.@@@@1@17@@oe@2-2-2013
21815006@unknown@formal@none@1@S@There was no reversal {of that trend} between 1987 and 1988."@@@@1@11@@oe@2-2-2013
21815007@unknown@formal@none@1@S@Per capita income, a widely used measure of a nation's economic health, hit a record in 1988, rising 1.7% after inflation adjustment to $13,120.@@@@1@24@@oe@2-2-2013
21815008@unknown@formal@none@1@S@But the median income of American families fell 0.2%, the first time it has failed to rise since 1982.@@@@1@19@@oe@2-2-2013
21815009@unknown@formal@none@1@S@Mr. Butz said the divergence in the two measures reflects changes in family size and structure, including the rising number of female-headed families and a sharp increase in income reported by Americans who aren't living in families.@@@@1@37@@oe@2-2-2013
21815010@unknown@formal@none@1@S@As a result of last year's decline, the government's estimate for the number of people living below the poverty line declined by about 500,000.@@@@1@24@@oe@2-2-2013
21815011@unknown@formal@none@1@S@The poverty threshold, defined as three times food expenses as calculated by the Agricultural Department, last year was $12,092 for a family of four.@@@@1@24@@oe@2-2-2013
21815012@unknown@formal@none@1@S@The Census Bureau counts all cash income in determining whether families are below the line, but it doesn't consider other government benefits, such as Medicare.@@@@1@25@@oe@2-2-2013
21815013@unknown@formal@none@1@S@Thanks largely to the continued growth of the U.S. economy, the poverty rate is now substantially lower than the 1983 peak of 15.3%, but the improvements have been modest in the past couple of years.@@@@1@35@@oe@2-2-2013
21815014@unknown@formal@none@1@S@Poverty remains far more widespread among blacks than other Americans.@@@@1@10@@oe@2-2-2013
21815015@unknown@formal@none@1@S@In 1988, 31.6% of blacks lived in poverty, compared with 10.1% for whites and 26.8% for Hispanics.@@@@1@17@@oe@2-2-2013
21815016@unknown@formal@none@1@S@But two-thirds of all poor Americans were white.@@@@1@8@@oe@2-2-2013
21815017@unknown@formal@none@1@S@More than half of poor families were headed by women living without men, the bureau said.@@@@1@16@@oe@2-2-2013
21815018@unknown@formal@none@1@S@More than three-fourths of poor black families were headed by women.@@@@1@11@@oe@2-2-2013
21815019@unknown@formal@none@1@S@The poverty rate of children under 18 years old dropped last year to 19.7% from 20.5% in 1987, but remained far higher than a decade ago.@@@@1@26@@oe@2-2-2013
21815020@unknown@formal@none@1@S@The rate among the elderly -- 12% in 1988 -- wasn't significantly lower than the year before.@@@@1@17@@oe@2-2-2013
21815021@unknown@formal@none@1@S@If it weren't for Social Security payments, more than three times as many elderly would be below the poverty line, Mr. Butz said.@@@@1@23@@oe@2-2-2013
21815022@unknown@formal@none@1@S@The Census Bureau also said:@@@@1@5@@oe@2-2-2013
21815023@unknown@formal@none@1@S@-- Some 17.2% of all money income received by families in 1988 went to the wealthiest 5% of all families, up from 16.9% in 1987.@@@@1@25@@oe@2-2-2013
21815024@unknown@formal@none@1@S@That is the greatest share reported for any year since 1950, although changing definitions over the years distort the comparison.@@@@1@20@@oe@2-2-2013
21815025@unknown@formal@none@1@S@-- The top fifth of all families got 44% of the income, up from 41.5% a decade earlier.@@@@1@18@@oe@2-2-2013
21815026@unknown@formal@none@1@S@The bottom fifth of all families got 4.6% of the income, down from 5.2% a decade earlier.@@@@1@17@@oe@2-2-2013
21815027@unknown@formal@none@1@S@-- Confirming other government data showing that wages aren't keeping pace with inflation, earnings of year-round, full-time male workers fell 1.3% in 1988 after adjusting for higher prices, the first such drop since 1982.@@@@1@34@@oe@2-2-2013
21815028@unknown@formal@none@1@S@Earnings of female workers were unchanged.@@@@1@6@@oe@2-2-2013
21815029@unknown@formal@none@1@S@-- Women working full-time earned 66 cents for every dollar earned by men, a penny more than in 1987 and seven cents more than in 1978.@@@@1@26@@oe@2-2-2013
21815030@unknown@formal@none@1@S@-- Median household income -- which includes both those living in families and those who aren't -- rose 0.3% last year to $27,225 after inflation.@@@@1@25@@oe@2-2-2013
21815031@unknown@formal@none@1@S@It rose sharply in the Northeast and Midwest and fell slightly in the South and West.@@@@1@16@@oe@2-2-2013
21815032@unknown@formal@none@1@S@Median family income was $32,191, down 0.2%.@@@@1@7@@oe@2-2-2013
21815033@unknown@formal@none@1@S@-- Per capita income of blacks, though still only 60% that of whites, rose 3.9% in 1988, while per capita income of whites rose only 1.5%.@@@@1@26@@oe@2-2-2013
21815034@unknown@formal@none@1@S@-- Among married couples, the gap between blacks and whites narrowed sharply, as income of black families shot up 6.8% while income of whites didn't budge.@@@@1@26@@oe@2-2-2013
21815035@unknown@formal@none@1@S@Fueling a controversy that has been simmering for years, the Census Bureau also said its figures would look far rosier if it recalculated the poverty threshold using an improved consumer-price measure adopted in 1983.@@@@1@34@@oe@2-2-2013
21815036@unknown@formal@none@1@S@The bureau said some 3.5 million fewer people would have fallen below the poverty line in 1988 -- and the poverty rate would have been 10.5% instead of 13.1% -- under the alternative calculation.@@@@1@34@@oe@2-2-2013
21815037@unknown@formal@none@1@S@Critics on the left and right have been calling for all sorts of revisions to the measure for years.@@@@1@19@@oe@2-2-2013
21815038@unknown@formal@none@1@S@A report by the staff of the Joint Economic Committee of Congress released yesterday concluded, "It is misleading to make this change without adjusting for other changes."@@@@1@27@@oe@2-2-2013
21815039@unknown@formal@none@1@S@The official poverty threshold is set by the Office of Management and Budget.@@@@1@13@@oe@2-2-2013
21816001@unknown@formal@none@1@S@John E. Hayes Jr. was elected chairman, president and chief executive officer, succeeding David S. Black, who retired.@@@@1@18@@oe@2-2-2013
21816002@unknown@formal@none@1@S@Mr. Hayes, 52 years old, left Southwestern Bell Telephone Co. in January, where he had been chairman, president and chief executive, to join Triad Capital Partners, a St. Louis company with interests in solid waste and recycling, telecommunications and international venture capital.@@@@1@42@@oe@2-2-2013
21816003@unknown@formal@none@1@S@He has resigned his posts at Triad to take the Kansas Power positions.@@@@1@13@@oe@2-2-2013
21816004@unknown@formal@none@1@S@Kansas Power said Mr. Black, 61, chose early retirement.@@@@1@9@@oe@2-2-2013
21817001@unknown@formal@none@1@S@The space shuttle Atlantis boosted the Galileo spacecraft on its way to Jupiter, giving a big lift as well to an ambitious U.S. program of space exploration.@@@@1@27@@oe@2-2-2013
21817002@unknown@formal@none@1@S@Seven years late in the launching, $1 billion over budget and a target of anti-nuclear protestors, Galileo has long been a symbol of trouble for the National Aeronautics and Space Administration.@@@@1@31@@oe@2-2-2013
21817003@unknown@formal@none@1@S@But yesterday, as Atlantis rumbled into a patch of clear sky above Florida with storm clouds closing in on it, NASA sought to turn Galileo into a symbol of triumph.@@@@1@30@@oe@2-2-2013
21817004@unknown@formal@none@1@S@"NASA did it right; that's the message," said J.R. Thompson, the agency's deputy administrator.@@@@1@14@@oe@2-2-2013
21817005@unknown@formal@none@1@S@The $1.4 billion robot spacecraft faces a six-year journey to explore Jupiter and its 16 known moons.@@@@1@17@@oe@2-2-2013
21817006@unknown@formal@none@1@S@If all goes well, it will parachute a probe into the dense Jovian atmosphere in July 1995 to pick up detailed data about gases that may be similar to the material from which the solar system was formed 4.6 billion years ago.@@@@1@42@@oe@2-2-2013
21817007@unknown@formal@none@1@S@Jupiter is so enormous -- its mass is 318 times that of Earth -- that its gravity may have trapped these primordial gases and never let them escape.@@@@1@28@@oe@2-2-2013
21817008@unknown@formal@none@1@S@Investigating Jupiter in detail may provide clues to what astronomer Tobias Owen calls the "cosmic paradox" of life: Jupiter and other bodies in the outer solar system are rich in elements such as hydrogen that are essential for life on Earth, but these planets are lifeless; Earth, on the other hand, has a diminished store of such material but is rich in life.@@@@1@63@@oe@2-2-2013
21817009@unknown@formal@none@1@S@Some scientists have suggested that comets and asteroids may have brought enough of this kind of material from the outer solar system to Earth to spawn life.@@@@1@27@@oe@2-2-2013
21817010@unknown@formal@none@1@S@Beginning in December 1995, Galileo will begin a two-year tour of the Jovian moons.@@@@1@14@@oe@2-2-2013
21817011@unknown@formal@none@1@S@In 1979, two Voyager spacecraft sent back stunning photos of Jovian moons Io and Europa that showed them to be among the most intriguing bodies in the solar system.@@@@1@29@@oe@2-2-2013
21817012@unknown@formal@none@1@S@The photos showed active geysers on Io spewing sulfurous material 190 miles into its atmosphere and indicated that Europa may have an ocean hidden under a thick sheet of ice.@@@@1@30@@oe@2-2-2013
21817013@unknown@formal@none@1@S@Galileo's photos of Europa will be more than 1,000 times as sharp as Voyager's, according to Torrence Johnson, Galileo's project scientist, and may show whether it actually has the only known ocean other than those on Earth.@@@@1@37@@oe@2-2-2013
21817014@unknown@formal@none@1@S@Atlantis lifted Galileo from the launch pad at 12:54 p.m. EDT and released the craft from its cargo bay about six hours later.@@@@1@23@@oe@2-2-2013
21817015@unknown@formal@none@1@S@"Galileo is on its way to another world in the hands of the best flight controllers in this world," Atlantis Commander Donald Williams said.@@@@1@24@@oe@2-2-2013
21817016@unknown@formal@none@1@S@"Fly safely."@@@@1@2@@oe@2-2-2013
21817017@unknown@formal@none@1@S@The five-member Atlantis crew will conduct several experiments, including growing plants and processing polymeric materials in space, before their scheduled landing at Edwards Air Force Base, Calif., Monday.@@@@1@28@@oe@2-2-2013
21817018@unknown@formal@none@1@S@The Galileo project started in 1977, and a number of project veterans were on hand to watch the launch.@@@@1@19@@oe@2-2-2013
21817019@unknown@formal@none@1@S@An ebullient Mr. Johnson, wearing a NASA baseball cap and carrying a camera and binoculars, called the launch "fantastic."@@@@1@19@@oe@2-2-2013
21817020@unknown@formal@none@1@S@Benny Chin, manager of the Galileo probe, compared it to watching a child leave home.@@@@1@15@@oe@2-2-2013
21817021@unknown@formal@none@1@S@"I'm happy and sad," he said.@@@@1@6@@oe@2-2-2013
21817022@unknown@formal@none@1@S@Anti-nuclear activists took a less positive view.@@@@1@7@@oe@2-2-2013
21817023@unknown@formal@none@1@S@Having argued that Galileo's plutonium power source could have released lethal doses of radiation if the shuttle exploded yesterday, they weren't quieted by yesterday's successful launch.@@@@1@26@@oe@2-2-2013
21817024@unknown@formal@none@1@S@Galileo will skim past Earth in 1990 and 1992, collecting energy from the planet's gravitational field to gain momentum for its trip to Jupiter.@@@@1@24@@oe@2-2-2013
21817025@unknown@formal@none@1@S@The protesters point out that Galileo also could crash to Earth then.@@@@1@12@@oe@2-2-2013
21817026@unknown@formal@none@1@S@They said they dropped plans to infiltrate the Kennedy Space Center after NASA beefed up its security.@@@@1@17@@oe@2-2-2013
21817027@unknown@formal@none@1@S@One protest did get past NASA's guard, though; a computer virus caused anti-Galileo messages to flash onto some computer screens at NASA centers.@@@@1@23@@oe@2-2-2013
21817028@unknown@formal@none@1@S@The successful launch continues a remarkable recovery in the U.S. space-science program.@@@@1@12@@oe@2-2-2013
21817029@unknown@formal@none@1@S@An unmanned spacecraft, Magellan, already is heading to Venus and is due to begin mapping the planet next August.@@@@1@19@@oe@2-2-2013
21817030@unknown@formal@none@1@S@Voyager 2 sent back spectacular photos of Neptune and its moon, Triton, this summer.@@@@1@14@@oe@2-2-2013
21817031@unknown@formal@none@1@S@Next month, NASA plans to launch a satellite to study cosmic rays dating from the birth of the universe.@@@@1@19@@oe@2-2-2013
21817032@unknown@formal@none@1@S@In December, the shuttle Columbia will try to retrieve a satellite that's been in orbit for nearly five years measuring the deleterious effects of space on materials and instruments.@@@@1@29@@oe@2-2-2013
21817033@unknown@formal@none@1@S@Next March, the shuttle Discovery will launch the Hubble space telescope, a $1.5 billion instrument designed to see the faintest galaxies in the universe.@@@@1@24@@oe@2-2-2013
21817034@unknown@formal@none@1@S@Not all of NASA's space-science work will be so auspicious, though.@@@@1@11@@oe@2-2-2013
21817035@unknown@formal@none@1@S@Around Thanksgiving, the Solar Max satellite, which NASA repaired in orbit in 1984, will tumble back into the Earth's atmosphere.@@@@1@20@@oe@2-2-2013
21817036@unknown@formal@none@1@S@NASA won't attempt a rescue; instead, it will try to predict whether any of the rubble will smash to the ground and where.@@@@1@23@@oe@2-2-2013
21818001@unknown@formal@none@1@S@The Associated Press's earthquake coverage drew attention to a phenomenon that deserves some thought by public officials and other policy makers.@@@@1@21@@oe@2-2-2013
21818002@unknown@formal@none@1@S@Private relief agencies, such as the Salvation Army and Red Cross, mobilized almost instantly to help people, while the Washington bureaucracy "took hours getting into gear."@@@@1@26@@oe@2-2-2013
21818003@unknown@formal@none@1@S@One news show we saw yesterday even displayed 25 federal officials meeting around a table.@@@@1@15@@oe@2-2-2013
21818004@unknown@formal@none@1@S@We recall that the mayor of Charleston complained bitterly about the federal bureaucracy's response to Hurricane Hugo.@@@@1@17@@oe@2-2-2013
21818005@unknown@formal@none@1@S@The sense grows that modern public bureaucracies simply don't perform their assigned functions well.@@@@1@14@@oe@2-2-2013
21819001@unknown@formal@none@1@S@Bally Manufacturing Corp. and New York developer Donald Trump have agreed in principle to a $6.5 million settlement of shareholder litigation stemming from Bally's alleged greenmail payment to Mr. Trump.@@@@1@30@@oe@2-2-2013
21819002@unknown@formal@none@1@S@According to lawyers familiar with the settlement talks, the verbal agreement to end a lawsuit filed more than two years ago was reached last week and will soon be submitted to a federal judge in Camden, N.J.@@@@1@37@@oe@2-2-2013
21819003@unknown@formal@none@1@S@In February 1987, Bally thwarted a possible hostile takeover bid from Mr. Trump by agreeing to buy 2.6 million of Mr. Trump's 3.1 million Bally shares for $83.7 million -- more than $18 million above market price.@@@@1@37@@oe@2-2-2013
21819004@unknown@formal@none@1@S@The term greenmail refers to a situation where a company pays a premium over market value to repurchase a stake held by a potential acquirer.@@@@1@25@@oe@2-2-2013
21819005@unknown@formal@none@1@S@Lawyers for shareholders, Bally and Mr. Trump all declined to talk publicly about the proposed settlement, citing a request by a federal court magistrate not to reveal details of the agreement until it is completed.@@@@1@35@@oe@2-2-2013
21819006@unknown@formal@none@1@S@But some attorneys who are familiar with the matter said the $6.5 million payment will be shared by Bally and Mr. Trump, with the casino and hotel concern probably paying the bulk of the money.@@@@1@35@@oe@2-2-2013
21819007@unknown@formal@none@1@S@The amount Bally and Mr. Trump will pay to settle the class-action suit pales in comparison to the $45 million Walt Disney Co. and Saul Steinberg's Reliance Group Holdings Inc. agreed to pay to settle a similar suit in July.@@@@1@40@@oe@2-2-2013
21819008@unknown@formal@none@1@S@That settlement represented the first time shareholders were granted a major payment in a greenmail case.@@@@1@16@@oe@2-2-2013
21819009@unknown@formal@none@1@S@Mr. Steinberg made a $59.7 million profit on the sale to Disney of his investment in the company in 1984.@@@@1@20@@oe@2-2-2013
21819010@unknown@formal@none@1@S@But lawyers said Mr. Steinberg probably faced much more potential liability because, when he sued Disney during his takeover battle, he filed on behalf of all shareholders.@@@@1@27@@oe@2-2-2013
21819011@unknown@formal@none@1@S@When Disney offered to pay Mr. Steinberg a premium for his shares, the New York investor didn't demand the company also pay a premium to other shareholders.@@@@1@27@@oe@2-2-2013
21819012@unknown@formal@none@1@S@When Mr. Trump sued Bally, he sued only on behalf of himself.@@@@1@12@@oe@2-2-2013
21819013@unknown@formal@none@1@S@Mr. Trump and Bally also appeared to have some leverage in the case because in the state of Delaware, where Bally is incorporated, courts have held that greenmail is often protected by the business-judgment rule.@@@@1@35@@oe@2-2-2013
21819014@unknown@formal@none@1@S@That rule gives boards of directors wide latitude in deciding how to deal with dissident shareholders.@@@@1@16@@oe@2-2-2013
21819015@unknown@formal@none@1@S@SENATE HEARS final arguments in impeachment trial of federal judge.@@@@1@10@@oe@2-2-2013
21819016@unknown@formal@none@1@S@Yesterday, U.S. Judge Alcee Hastings faced his jury -- the full U.S. Senate -- and said, "I am not guilty of having committed any crime."@@@@1@25@@oe@2-2-2013
21819017@unknown@formal@none@1@S@Seventeen articles of impeachment against the Florida judge, one of the few blacks on the U.S. bench, were approved by the House in August 1988.@@@@1@25@@oe@2-2-2013
21819018@unknown@formal@none@1@S@The central charge against Judge Hastings is that he conspired with a Washington lawyer to obtain a $150,000 bribe from defendants in a criminal case before the judge, in return for leniency.@@@@1@32@@oe@2-2-2013
21819019@unknown@formal@none@1@S@He is also accused of lying under oath and of leaking information obtained from a wiretap he supervised.@@@@1@18@@oe@2-2-2013
21819020@unknown@formal@none@1@S@The Senate's public gallery was packed with Judge Hastings' supporters, who erupted into applause after he finished his argument.@@@@1@19@@oe@2-2-2013
21819021@unknown@formal@none@1@S@Judge Hastings, who was acquitted of similar charges by a federal jury in 1983, claims he is being victimized and that the impeachment proceedings against him constitute double jeopardy.@@@@1@29@@oe@2-2-2013
21819022@unknown@formal@none@1@S@But Rep. John Bryant (D., Texas), the lead counsel for the House managers who conducted a lengthy inquiry into Judge Hastings' activities, said "a mountain of evidence points to his certain guilt."@@@@1@32@@oe@2-2-2013
21819023@unknown@formal@none@1@S@The Senate will deliberate behind closed doors today and is scheduled to vote on the impeachment tomorrow.@@@@1@17@@oe@2-2-2013
21819024@unknown@formal@none@1@S@If the judge is impeached, as is thought likely, he will be removed from office immediately.@@@@1@16@@oe@2-2-2013
21819025@unknown@formal@none@1@S@However, Judge Hastings has said he will continue to fight and is contemplating an appeal of any impeachment to the U.S. Supreme Court.@@@@1@23@@oe@2-2-2013
21819026@unknown@formal@none@1@S@COMPANIES SEEKING to make insurers pay for pollution cleanup win court victory.@@@@1@12@@oe@2-2-2013
21819027@unknown@formal@none@1@S@In a case involving Avondale Industries Inc. and its insurer, Travelers Cos., the Second U.S. Circuit Court of Appeals in New York ruled in favor of the company on two issues that lawyers say are central to dozens of pollution cases around the country.@@@@1@44@@oe@2-2-2013
21819028@unknown@formal@none@1@S@Travelers and other insurers have maintained that cleanup costs aren't damages and thus aren't covered under commercial policies.@@@@1@18@@oe@2-2-2013
21819029@unknown@formal@none@1@S@They also have argued that government proceedings notifying a company of potential responsibility don't fit the legal definition of a lawsuit; thus, such governmental proceedings aren't covered by the policies, the insurers say.@@@@1@33@@oe@2-2-2013
21819030@unknown@formal@none@1@S@The appeals court disagreed on both counts.@@@@1@7@@oe@2-2-2013
21819031@unknown@formal@none@1@S@Avondale was notified by Louisiana officials in 1986 that it was potentially responsible for a cleanup at an oil-recycling plant.@@@@1@20@@oe@2-2-2013
21819032@unknown@formal@none@1@S@Avondale asked Travelers to defend it in the state proceeding, but the insurer didn't respond.@@@@1@15@@oe@2-2-2013
21819033@unknown@formal@none@1@S@The appeals court upheld a district judge's ruling that the insurer had to defend the company in such proceedings.@@@@1@19@@oe@2-2-2013
21819034@unknown@formal@none@1@S@The appeals court also said, "We think an ordinary businessman reading this policy would have believed himself covered for the demands and potential damage claims" stemming from any cleanup.@@@@1@29@@oe@2-2-2013
21819035@unknown@formal@none@1@S@"This decision will have a very considerable impact," said Kenneth Abraham, professor of environmental law and insurance law at the University of Virginia, because many commercial insurance policies are issued by companies based in New York.@@@@1@36@@oe@2-2-2013
21819036@unknown@formal@none@1@S@William Greaney, an attorney for the Chemical Manufacturers Association, said that while other appeals courts have ruled differently on whether cleanup costs are damages, the influence of the appeals court in New York "will make insurers sit up and listen."@@@@1@40@@oe@2-2-2013
21819037@unknown@formal@none@1@S@He said the decision was the first in which a federal appeals court has ruled whether administrative government proceedings qualify as litigation.@@@@1@22@@oe@2-2-2013
21819038@unknown@formal@none@1@S@Barry R. Ostrager, an attorney for Travelers, said, "there are procedural bases on which this case will be appealed further."@@@@1@20@@oe@2-2-2013
21819039@unknown@formal@none@1@S@NEW YORK'S poor face nearly three million legal problems a year without legal help.@@@@1@14@@oe@2-2-2013
21819040@unknown@formal@none@1@S@That is the conclusion of a report released by the New York State Bar Association.@@@@1@15@@oe@2-2-2013
21819041@unknown@formal@none@1@S@The report was based on a telephone survey of 1,250 low-income households across the state, a mail survey of major legal-services programs and on-site interviews with individuals in the field.@@@@1@30@@oe@2-2-2013
21819042@unknown@formal@none@1@S@"The report provides detailed documentation of the extent and nature of the problem and indicates how we may want to shape solutions," said Joseph Genova, chairman of the committee that oversaw the survey and a partner at the law firm of Milbank, Tweed, Hadley & McCloy.@@@@1@46@@oe@2-2-2013
21819043@unknown@formal@none@1@S@According to the study, slightly more than 34% of those surveyed reported having at least one housing problem every year for which they had no legal help.@@@@1@27@@oe@2-2-2013
21819044@unknown@formal@none@1@S@Nearly 36% ranked housing problems as their most serious unmet legal need.@@@@1@12@@oe@2-2-2013
21819045@unknown@formal@none@1@S@Other areas targeted by the survey's respondents included difficulty obtaining or maintaining public benefits (22%), consumer fraud (15.4%), and health-care issues (15%).@@@@1@22@@oe@2-2-2013
21819046@unknown@formal@none@1@S@During the 15-month survey, 43% of all legal-services programs said that at some period they were unable to accept new clients unless they had an emergency.@@@@1@26@@oe@2-2-2013
21819047@unknown@formal@none@1@S@Mr. Genova said the committee may meet to propose solutions to the problems identified in the study.@@@@1@17@@oe@2-2-2013
21819048@unknown@formal@none@1@S@PROSECUTOR TO JOIN Gibson Dunn:@@@@1@5@@oe@2-2-2013
21819049@unknown@formal@none@1@S@Assistant U.S. Attorney Randy Mastro, who headed the government's racketeering case against the International Brotherhood of Teamsters, will join Gibson, Dunn & Crutcher in its New York office.@@@@1@28@@oe@2-2-2013
21819050@unknown@formal@none@1@S@Mr. Mastro has been with the New York U.S. attorney's office for nearly five years.@@@@1@15@@oe@2-2-2013
21819051@unknown@formal@none@1@S@In 1987 he became deputy chief of the civil division.@@@@1@10@@oe@2-2-2013
21819052@unknown@formal@none@1@S@Mr. Mastro will do civil litigation and white-collar defense work for Gibson Dunn, which is based in Los Angeles.@@@@1@19@@oe@2-2-2013
21819053@unknown@formal@none@1@S@FORMER APPLE COMPUTER Inc. general counsel John P. Karalis has joined the Phoenix, Ariz., law firm of Brown & Bain.@@@@1@20@@oe@2-2-2013
21819054@unknown@formal@none@1@S@Mr. Karalis, 51, will specialize in corporate law and international law at the 110-lawyer firm.@@@@1@15@@oe@2-2-2013
21819055@unknown@formal@none@1@S@Before joining Apple in 1986, Mr. Karalis served as general counsel at Sperry Corp.@@@@1@14@@oe@2-2-2013
21820001@unknown@formal@none@1@S@After failing to find a buyer for the Sears Tower in Chicago, Sears, Roebuck & Co. is negotiating with Boston pension fund adviser Aldrich, Eastman & Waltch Inc. to refinance the property for close to $850 million, according to people close to the negotiations.@@@@1@44@@oe@2-2-2013
21820002@unknown@formal@none@1@S@Under the proposed agreement involving the world's tallest building, Chicago-based Sears would receive about half the money through conventional mortgage financing and the other half as a convertible mortgage.@@@@1@29@@oe@2-2-2013
21820003@unknown@formal@none@1@S@At the end of the term of the convertible loan, Sears could still own half the building, and AEW could own the other half.@@@@1@24@@oe@2-2-2013
21820004@unknown@formal@none@1@S@Neither side would comment.@@@@1@4@@oe@2-2-2013
21820005@unknown@formal@none@1@S@The parties are currently negotiating over who would manage the building, which will be emptied of 6,000 employees from Sears' merchandise group, which is moving elsewhere.@@@@1@26@@oe@2-2-2013
21820006@unknown@formal@none@1@S@The new manager will face the daunting task of leasing 1.8 million square feet in a relatively soft Chicago real estate market.@@@@1@22@@oe@2-2-2013
21820007@unknown@formal@none@1@S@Also, it has not yet been decided exactly how much of the mortgage AEW will be able to convert into equity.@@@@1@21@@oe@2-2-2013
21820008@unknown@formal@none@1@S@Convertible mortgages have become an increasingly popular way to finance prestigious buildings of late.@@@@1@14@@oe@2-2-2013
21820009@unknown@formal@none@1@S@In a convertible mortgage, the investor lends the building owner a certain amount in return for the option to convert its interest into equity, usually less than 50%, at the end of the loan term.@@@@1@35@@oe@2-2-2013
21820010@unknown@formal@none@1@S@During the term, the lender can either receive a percentage of cash flow, a percentage of the building's appreciation or a fixed return.@@@@1@23@@oe@2-2-2013
21820011@unknown@formal@none@1@S@The main advantage of a convertible mortgage is that it is not a sale and therefore does not trigger costly transfer taxes and reappraisal.@@@@1@24@@oe@2-2-2013
21820012@unknown@formal@none@1@S@Sears said it would put the 110-story tower on the block almost a year ago as part of its anti-takeover restructuring.@@@@1@21@@oe@2-2-2013
21820013@unknown@formal@none@1@S@But Japanese institutions shied away from bidding on the high-profile tower out of fear their purchase of the property would trigger anti-Japanese sentiment.@@@@1@23@@oe@2-2-2013
21820014@unknown@formal@none@1@S@Last summer, Sears appeared to have a deal with Canadian developer Olympia & York Developments Ltd.@@@@1@16@@oe@2-2-2013
21820015@unknown@formal@none@1@S@But that deal fell through in September after it became clear that the sale would lead to a major real estate tax reassessment, raising property taxes, and making it difficult to lease the building at competitive prices.@@@@1@37@@oe@2-2-2013
21820016@unknown@formal@none@1@S@Real estate industry executives said Sears' investment banker, Goldman, Sachs & Co., sought financing in Japan.@@@@1@16@@oe@2-2-2013
21820017@unknown@formal@none@1@S@However, Japanese authorities apparently were concerned that a refinancing also would attract too much publicity.@@@@1@15@@oe@2-2-2013
21820018@unknown@formal@none@1@S@Sears then went back to AEW, the Boston pension adviser that had proposed a convertible debt deal during the first round of bids last spring.@@@@1@25@@oe@2-2-2013
21820019@unknown@formal@none@1@S@AEW has $3.5 billion of real estate investments nationwide, according to a spokesman.@@@@1@13@@oe@2-2-2013
21821001@unknown@formal@none@1@S@Tandy Corp. said it signed a definitive agreement to acquire two units of Datatronic AB of Stockholm for cash.@@@@1@19@@oe@2-2-2013
21821002@unknown@formal@none@1@S@The amount wasn't disclosed.@@@@1@4@@oe@2-2-2013
21821003@unknown@formal@none@1@S@The electronics maker and retailer previously estimated the sale price at between $100 million and $200 million for Datatronic's Victor microcomputer and Micronic hand-held computer subsidiaries.@@@@1@26@@oe@2-2-2013
21821004@unknown@formal@none@1@S@In addition, Tandy will acquire rights to the Victor and Micronic names for computers.@@@@1@14@@oe@2-2-2013
21821005@unknown@formal@none@1@S@During 1988, the Datatronic subsidiaries had combined sales in excess of $200 million.@@@@1@13@@oe@2-2-2013
21821006@unknown@formal@none@1@S@The transaction will give Tandy a well-known European computer brand that includes 2,700 dealers and distributors marketing to medium-sized business and educational institutions.@@@@1@23@@oe@2-2-2013
21821007@unknown@formal@none@1@S@Closing of the transaction is subject to certain conditions and regulatory approvals, the company said.@@@@1@15@@oe@2-2-2013
21822001@unknown@formal@none@1@S@Two rules in pending congressional legislation threaten to hinder leveraged buy-outs by raising the price tags of such deals by as much as 10%.@@@@1@24@@oe@2-2-2013
21822002@unknown@formal@none@1@S@Wall Street is seething over the rules, which would curtail the tax deductibility of debt used in most LBOs.@@@@1@19@@oe@2-2-2013
21822003@unknown@formal@none@1@S@The provisions, in deficit-reduction bills recently passed by the House and Senate, could further cool the takeover boom that has been the driving force behind the bull market in stocks for much of the 1980s, some tax experts and investment bankers argue.@@@@1@42@@oe@2-2-2013
21822004@unknown@formal@none@1@S@Indeed, some investment bankers have already started restructuring deals to cope with the expected rules.@@@@1@15@@oe@2-2-2013
21822005@unknown@formal@none@1@S@Wall Street has all but conceded on the issue and is now lobbying for the less onerous Senate version of one of the provisions.@@@@1@24@@oe@2-2-2013
21822006@unknown@formal@none@1@S@At issue is the deductibility of certain junk bonds that are used in most LBOs.@@@@1@15@@oe@2-2-2013
21822007@unknown@formal@none@1@S@Such high-yield debt is similar to a zero-coupon bond in that it is sold at a discount to face value, with interest accruing instead of being paid to the holder.@@@@1@30@@oe@2-2-2013
21822008@unknown@formal@none@1@S@Under current rules, that accrued interest is deductible by the company issuing the debt.@@@@1@14@@oe@2-2-2013
21822009@unknown@formal@none@1@S@The House version of the legislation would kill that deduction, and label any such debt as equity, which isn't deductible.@@@@1@20@@oe@2-2-2013
21822010@unknown@formal@none@1@S@The less-rigorous Senate version would defer the deductibility for roughly five years.@@@@1@12@@oe@2-2-2013
21822011@unknown@formal@none@1@S@"You see these in just about every LBO," said Robert Willens, senior vice president in charge of tax issues at Shearson Lehman Hutton Inc. in New York.@@@@1@27@@oe@2-2-2013
21822012@unknown@formal@none@1@S@"It becomes a source of cash" for the company making the LBO because it gets a deduction and doesn't have to repay the debt for several years.@@@@1@27@@oe@2-2-2013
21822013@unknown@formal@none@1@S@Typically, Mr. Willens estimates, this type of debt makes up 15% to 20% of the financing for LBOs.@@@@1@18@@oe@2-2-2013
21822014@unknown@formal@none@1@S@These types of bonds have been used in buy-outs of companies such as RJR Nabisco Inc., Storer Communications Inc. and Kroger Co.@@@@1@22@@oe@2-2-2013
21822015@unknown@formal@none@1@S@A second provision passed by the Senate and House would eliminate a rule allowing companies that post losses resulting from LBO debt to receive refunds of taxes paid over the previous three years.@@@@1@33@@oe@2-2-2013
21822016@unknown@formal@none@1@S@For example, if a company posted a loss of $100 million from buy-out interest payments, the existing rule would allow the concern to be able to receive a refund from the tax it paid from 1986 through 1989, when it may have been a profitable public company.@@@@1@47@@oe@2-2-2013
21822017@unknown@formal@none@1@S@But that rule is being virtually overlooked by Wall Street, which is concentrating on coping with the deduction issue.@@@@1@19@@oe@2-2-2013
21822018@unknown@formal@none@1@S@"Prices for LBOs have to come down if you don't have that feature," argued Lawrence Schloss, managing director for merchant banking at Donaldson, Lufkin & Jenrette Securities Corp. in New York.@@@@1@31@@oe@2-2-2013
21822019@unknown@formal@none@1@S@Several Wall Street officials say the proposed legislation already is having an impact.@@@@1@13@@oe@2-2-2013
21822020@unknown@formal@none@1@S@An investment group led by Chicago's Pritzker family recently lowered a $3.35 billion bid for American Medical International, Beverly Hills, Calif., because of the threat of the legislation.@@@@1@28@@oe@2-2-2013
21822021@unknown@formal@none@1@S@Moreover, one investment banker, who requested anonymity, said his firm didn't raise the ante for a target company earlier this month after a stronger bid emerged from a public company that wasn't concerned about the financing provision.@@@@1@37@@oe@2-2-2013
21822022@unknown@formal@none@1@S@"We would have paid more if we thought that law wasn't going to pass," he said.@@@@1@16@@oe@2-2-2013
21822023@unknown@formal@none@1@S@One possible solution for Wall Street is to increase the equity part of the transaction -- that is, give lenders a bigger stake in the surviving company rather than just interest payments.@@@@1@32@@oe@2-2-2013
21822024@unknown@formal@none@1@S@That would force the buy-out firm and the target company's management to reduce their level of ownership.@@@@1@17@@oe@2-2-2013
21822025@unknown@formal@none@1@S@"The pigs in the trough may have to give a little bit of the slop back and then the deal can go through," said Peter C. Canellos, tax partner at Wachtell, Lipton, Rosen & Katz.@@@@1@35@@oe@2-2-2013
21822026@unknown@formal@none@1@S@Another solution, said a tax lawyer who requested anonymity, is for firms to use convertible bonds that sell at a discount.@@@@1@21@@oe@2-2-2013
21822027@unknown@formal@none@1@S@Since they have a lower interest rate, they wouldn't fall under the junk-bond category that would lose its deductibility.@@@@1@19@@oe@2-2-2013
21822028@unknown@formal@none@1@S@The House version of the bill would make debt non-deductible if it pays five percentage points above Treasury notes, has at least a five-year maturity and doesn't pay interest for at least one year out of the first five.@@@@1@39@@oe@2-2-2013
21822029@unknown@formal@none@1@S@The bill would then declare that the debt is equity and therefore isn't deductible.@@@@1@14@@oe@2-2-2013
21822030@unknown@formal@none@1@S@The Senate bill would only deny the deduction until interest is actually paid.@@@@1@13@@oe@2-2-2013
21822031@unknown@formal@none@1@S@Currently, even though the issuer doesn't pay tax, the debt holder is taxed on the accrued interest.@@@@1@17@@oe@2-2-2013
21822032@unknown@formal@none@1@S@But those holders are often foreign investors and tax-exempt pension funds that don't pay taxes on their holdings.@@@@1@18@@oe@2-2-2013
21822033@unknown@formal@none@1@S@The Senate estimates that its version of the provision would yield $17 million the first year and a total of $409 million over five years.@@@@1@25@@oe@2-2-2013
21822034@unknown@formal@none@1@S@The House version would raise slightly more.@@@@1@7@@oe@2-2-2013
21822035@unknown@formal@none@1@S@Even if Wall Street finds ways around the new rules, a Senate aide contends LBOs will become somewhat more difficult.@@@@1@20@@oe@2-2-2013
21822036@unknown@formal@none@1@S@"There's no question it will make LBOs more expensive," he said.@@@@1@11@@oe@2-2-2013
21822037@unknown@formal@none@1@S@"The interest deduction was the engine that made these things more productive.@@@@1@12@@oe@2-2-2013
21823001@unknown@formal@none@1@S@The average publicly offered commodity fund fell 4.2% in September, largely because of the volatile markets in foreign currencies, according to Norwood Securities.@@@@1@23@@oe@2-2-2013
21823002@unknown@formal@none@1@S@The firm said that losers outnumbered gainers by more than three to one among the 122 funds it tracks.@@@@1@19@@oe@2-2-2013
21823003@unknown@formal@none@1@S@For the first nine months of the year, Norwood said the average fund has lost 3.3%.@@@@1@16@@oe@2-2-2013
21824001@unknown@formal@none@1@S@The government moved aggressively to open the spigots of federal aid for victims of the California earthquake, but its reservoir of emergency funds must be replenished soon if the aid is to continue.@@@@1@33@@oe@2-2-2013
21824002@unknown@formal@none@1@S@President Bush signed a disaster declaration covering seven Northern California counties.@@@@1@11@@oe@2-2-2013
21824003@unknown@formal@none@1@S@The declaration immediately made the counties eligible for temporary housing, grants and low-cost loans to cover uninsured property losses.@@@@1@19@@oe@2-2-2013
21824004@unknown@formal@none@1@S@In addition, an unusually wide array of federal agencies moved to provide specialized assistance.@@@@1@14@@oe@2-2-2013
21824005@unknown@formal@none@1@S@The Department of Housing and Urban Development prepared to make as many as 100 vacant houses available for those left homeless, the Agriculture Department was set to divert food from the school-lunch program to earthquake victims, and the Pentagon was providing everything from radio communications to blood transfusions to military police for directing traffic.@@@@1@54@@oe@2-2-2013
21824006@unknown@formal@none@1@S@But the pool of federal emergency-relief funds already is running low because of the heavy costs of cleaning up Hurricane Hugo, and Congress will be under pressure to allocate more money quickly.@@@@1@32@@oe@2-2-2013
21824007@unknown@formal@none@1@S@In Hugo's wake, Congress allocated $1.1 billion in relief funds, and White House spokesman Marlin Fitzwater said $273 million of that money remains and could be diverted for quick expenditures related to the earthquake.@@@@1@34@@oe@2-2-2013
21824008@unknown@formal@none@1@S@Now, though, enormous costs for earthquake relief will pile on top of outstanding costs for hurricane relief.@@@@1@17@@oe@2-2-2013
21824009@unknown@formal@none@1@S@"That obviously means that we won't have enough for all of the emergencies that are now facing us, and we will have to consider appropriate requests for follow-on funding," Mr. Fitzwater said.@@@@1@32@@oe@2-2-2013
21824010@unknown@formal@none@1@S@The federal government isn't even attempting yet to estimate how much the earthquake will cost it.@@@@1@16@@oe@2-2-2013
21824011@unknown@formal@none@1@S@But Mr. Fitzwater said, "There will be, I think quite obviously, a very large amount of money required from all levels of government."@@@@1@23@@oe@2-2-2013