22325014@unknown@formal@none@1@S@Companies added capacity furiously.@@@@1@4@@oe@2-2-2013
22325015@unknown@formal@none@1@S@Now, greatly increased supplies are on the market, while the dollar is stronger, and domestic economic growth is slower.@@@@1@19@@oe@2-2-2013
22325016@unknown@formal@none@1@S@Third-quarter profits from gasoline were weaker.@@@@1@6@@oe@2-2-2013
22325017@unknown@formal@none@1@S@"Refining margins were so good in the third quarter of last year and generally not very good this year," said William Randol, a securities analyst at First Boston Corp.@@@@1@29@@oe@2-2-2013
22325018@unknown@formal@none@1@S@Oil company refineries ran flat out to prepare for a robust holiday driving season in July and August that didn't materialize.@@@@1@21@@oe@2-2-2013
22325019@unknown@formal@none@1@S@The excess supply pushed gasoline prices down in that period.@@@@1@10@@oe@2-2-2013
22325020@unknown@formal@none@1@S@In addition, crude oil prices were up some from a year earlier, further pressuring profitability.@@@@1@15@@oe@2-2-2013
22325021@unknown@formal@none@1@S@Refiners say margins picked up in September, and many industry officials believe gasoline profits will rebound this quarter, though still not to the level of 1988's fourth quarter.@@@@1@28@@oe@2-2-2013
22325022@unknown@formal@none@1@S@During the 1988 second half, many companies posted record gasoline and chemical profits.@@@@1@13@@oe@2-2-2013
22325023@unknown@formal@none@1@S@Crude oil production may turn out to be the most surprising element of companies' earnings this year.@@@@1@17@@oe@2-2-2013
22325024@unknown@formal@none@1@S@Prices -- averaging roughly $2 a barrel higher in the third quarter than a year earlier -- have stayed well above most companies' expectations.@@@@1@24@@oe@2-2-2013
22325025@unknown@formal@none@1@S@Demand has been much stronger than anticipated, and it typically accelerates in the fourth quarter.@@@@1@15@@oe@2-2-2013
22325026@unknown@formal@none@1@S@"We could see higher oil prices this year," said Bryan Jacoboski, an analyst at PaineWebber Inc.@@@@1@16@@oe@2-2-2013
22325027@unknown@formal@none@1@S@That will translate into sharply higher production profits, particularly compared with last year when oil prices steadily fell to below $13 a barrel in the fourth quarter.@@@@1@27@@oe@2-2-2013
22325028@unknown@formal@none@1@S@While oil prices have been better than expected, natural gas prices have been worse.@@@@1@14@@oe@2-2-2013
22325029@unknown@formal@none@1@S@In the third quarter, they averaged about 5% less than they were in 1988.@@@@1@14@@oe@2-2-2013
22325030@unknown@formal@none@1@S@The main reason remains weather.@@@@1@5@@oe@2-2-2013
22325031@unknown@formal@none@1@S@Last summer was notable for a heat wave and drought that caused utilities to burn more natural gas to feed increased electrical demand from air conditioning use.@@@@1@27@@oe@2-2-2013
22325032@unknown@formal@none@1@S@This summer, on the other hand, had milder weather than usual.@@@@1@11@@oe@2-2-2013
22325033@unknown@formal@none@1@S@"We've been very disappointed in the performance of natural gas prices," said Mr. Cox, Phillips's president.@@@@1@16@@oe@2-2-2013
22325034@unknown@formal@none@1@S@"The lagging gas price is not going to assist fourth quarter performance as many had expected."@@@@1@16@@oe@2-2-2013
22325035@unknown@formal@none@1@S@Going into the fourth quarter, natural gas prices are anywhere from 8% to 17% lower than a year earlier.@@@@1@19@@oe@2-2-2013
22325036@unknown@formal@none@1@S@For instance, natural gas currently produced along the Gulf Coast is selling on the spot market for around $1.47 a thousand cubic feet, down 13% from $1.69 a thousand cubic feet a year ago.@@@@1@34@@oe@2-2-2013
22326001@unknown@formal@none@1@S@The Bush administration, trying to blunt growing demands from Western Europe for a relaxation of controls on exports to the Soviet bloc, is questioning whether Italy's Ing. C. Olivetti & Co. supplied militarily valuable technology to the Soviets.@@@@1@38@@oe@2-2-2013
22326002@unknown@formal@none@1@S@Most of the Western European members of Coordinating Committee on Multilateral Export Controls, the unofficial forum through which the U.S. and its allies align their export-control policies, are expected to argue for more liberal export rules at a meeting to be held in Paris Oct. 25 and 26.@@@@1@48@@oe@2-2-2013
22326003@unknown@formal@none@1@S@They plan to press specifically for a relaxation of rules governing exports of machine tools, computers and other high-technology products.@@@@1@20@@oe@2-2-2013
22326004@unknown@formal@none@1@S@But the Bush administration says it wants to see evidence that all Cocom members are complying fully with existing export-control procedures before it will support further liberalization.@@@@1@27@@oe@2-2-2013
22326005@unknown@formal@none@1@S@To make its point, it is challenging the Italian government to explain reports that Olivetti may have supplied the Soviet Union with sophisticated computer-driven devices that could be used to build parts for combat aircraft.@@@@1@35@@oe@2-2-2013
22326006@unknown@formal@none@1@S@The London Sunday Times, which first reported the U.S. concerns, cited a U.S. intelligence report as the source of the allegations that Olivetti exported $25 million in "embargoed, state-of-the-art, flexible manufacturing systems to the Soviet aviation industry."@@@@1@37@@oe@2-2-2013
22326007@unknown@formal@none@1@S@Olivetti reportedly began shipping these tools in 1984.@@@@1@8@@oe@2-2-2013
22326008@unknown@formal@none@1@S@A State Department spokesman acknowledged that the U.S. is discussing the allegations with the Italian government and Cocom, but declined to confirm any details.@@@@1@24@@oe@2-2-2013
22326009@unknown@formal@none@1@S@Italian President Francesco Cossiga promised a quick investigation into whether Olivetti broke Cocom rules.@@@@1@14@@oe@2-2-2013
22326010@unknown@formal@none@1@S@President Bush called his attention to the matter during the Italian leader's visit here last week.@@@@1@16@@oe@2-2-2013
22326011@unknown@formal@none@1@S@Olivetti has denied that it violated Cocom rules, asserting that the reported shipments were properly licensed by the Italian authorities.@@@@1@20@@oe@2-2-2013
22326012@unknown@formal@none@1@S@Although the legality of these sales is still an open question, the disclosure couldn't be better timed to support the position of export-control hawks in the Pentagon and the intelligence community.@@@@1@31@@oe@2-2-2013
22326013@unknown@formal@none@1@S@"It seems to me that a story like this breaks just before every important Cocom meeting," said a Washington lobbyist for a number of U.S. computer companies.@@@@1@27@@oe@2-2-2013
22326014@unknown@formal@none@1@S@The Bush administration has sent conflicting signals about its export-control policies, reflecting unhealed divisions among several competing agencies.@@@@1@18@@oe@2-2-2013
22326015@unknown@formal@none@1@S@Last summer, Mr. Bush moved the administration in the direction of gradual liberalization when he told a North Atlantic Treaty Organization meeting that he would allow some exceptions to the Cocom embargo of strategic goods.@@@@1@35@@oe@2-2-2013
22326016@unknown@formal@none@1@S@But more recently, the Pentagon and the Commerce Department openly feuded over the extent to which Cocom should liberalize exports of personal computers to the bloc.@@@@1@26@@oe@2-2-2013
22326017@unknown@formal@none@1@S@However, these agencies generally agree that the West should be cautious about any further liberalization.@@@@1@15@@oe@2-2-2013
22326018@unknown@formal@none@1@S@"There's no evidence that the Soviet program to (illegally) acquire Western technology has diminished," said a State Department spokesman.@@@@1@19@@oe@2-2-2013
22327001@unknown@formal@none@1@S@Salomon Brothers International Ltd., a British subsidiary of Salomon Inc., announced it will issue warrants on shares of Hong Kong Telecommunications Ltd.@@@@1@22@@oe@2-2-2013
22327002@unknown@formal@none@1@S@The move closely follows a similar offer by Salomon of warrants for shares of Hongkong & Shanghai Banking Corp.@@@@1@19@@oe@2-2-2013
22327003@unknown@formal@none@1@S@Under the latest offer, HK$62.5 million (US$8 million) of three-year warrants will be issued in London, each giving buyers the right to buy one Hong Kong Telecommunications share at a price to be determined Friday.@@@@1@35@@oe@2-2-2013
22327004@unknown@formal@none@1@S@The 50 million warrants will be priced at HK$1.25 each and are expected to carry a premium to the share price of about 26%.@@@@1@24@@oe@2-2-2013
22327005@unknown@formal@none@1@S@In trading on the Stock Exchange of Hong Kong, the shares closed Wednesday at HK$4.80 each.@@@@1@16@@oe@2-2-2013
22327006@unknown@formal@none@1@S@At this price, the shares would have to rise above HK$6.05 for subscribers to Salomon's issue to profitably convert their warrants.@@@@1@21@@oe@2-2-2013
22327007@unknown@formal@none@1@S@While Hong Kong companies have in the past issued warrants on their own shares, Salomon's warrants are the first here to be issued by a third party.@@@@1@27@@oe@2-2-2013
22327008@unknown@formal@none@1@S@Salomon will "cover" the warrants by buying sufficient shares, or options to purchase shares, to cover its entire position.@@@@1@19@@oe@2-2-2013
22327009@unknown@formal@none@1@S@Bankers said warrants for Hong Kong stocks are attractive because they give foreign investors, wary of volatility in the colony's stock market, an opportunity to buy shares without taking too great a risk.@@@@1@33@@oe@2-2-2013
22327010@unknown@formal@none@1@S@The Hong Kong Telecommunications warrants should be attractive to buyers in Europe, the bankers added, because the group is one of a handful of blue-chip stocks on the Hong Kong market that has international appeal.@@@@1@35@@oe@2-2-2013
22328001@unknown@formal@none@1@S@Financial Corp. of Santa Barbara filed suit against former stock speculator Ivan F. Boesky and Drexel Burnham Lambert Inc., charging they defrauded the thrift by concealing their relationship when persuading it to buy $284 million in high-yield, high-risk junk bonds.@@@@1@40@@oe@2-2-2013
22328002@unknown@formal@none@1@S@In a suit filed in federal court Thursday, the S&L alleged that a "disproportionate number" of the bonds it purchased in 1984 declined in value.@@@@1@25@@oe@2-2-2013
22328003@unknown@formal@none@1@S@Financial Corp. purchased the bonds, the suit alleged, after Mr. Boesky and Drexel negotiated an agreement for Vagabond Hotels to purchase a 51% stake in the thrift for about $34 million.@@@@1@31@@oe@2-2-2013
22328004@unknown@formal@none@1@S@Vagabond Hotels was controlled by Mr. Boesky, who currently is serving a prison term for securities violations.@@@@1@17@@oe@2-2-2013
22328005@unknown@formal@none@1@S@Officials at Drexel said they hadn't seen the suit and thus couldn't comment.@@@@1@13@@oe@2-2-2013
22328006@unknown@formal@none@1@S@In addition to $33 million compensatory damages, the suit seeks $100 million in punitive damages.@@@@1@15@@oe@2-2-2013
22328007@unknown@formal@none@1@S@Also named in the suit is Ivan F. Boesky Corp. and Northview Corp., the successor company to Vagabonds Hotels.@@@@1@19@@oe@2-2-2013
22328008@unknown@formal@none@1@S@Northview officials couldn't be located.@@@@1@5@@oe@2-2-2013
22328009@unknown@formal@none@1@S@Financial Corp. said it agreed to buy the bonds after a representative of Ivan F. Boesky Corp. visited it in November 1983 and said Financial Corp. could improve its financial condition by purchasing the bonds.@@@@1@35@@oe@2-2-2013
22328010@unknown@formal@none@1@S@Shortly before the visit, Mr. Boesky and Drexel representives had met with Financial Corp. officials and had signed a letter of intent to acquire the 51% stake in the company.@@@@1@30@@oe@2-2-2013
22328011@unknown@formal@none@1@S@However, the agreement was canceled in June 1984.@@@@1@8@@oe@2-2-2013
22328012@unknown@formal@none@1@S@Financial Corp. purchased the bonds in at least 70 different transactions in 1984 and since then has realized $11 million in losses on them, the company said.@@@@1@27@@oe@2-2-2013
22329001@unknown@formal@none@1@S@Ideal Basic Industries Inc. said its directors reached an agreement in principle calling for HOFI North America Inc. to combine its North American cement holdings with Ideal in a transaction that will leave Ideal's minority shareholders with 12.8% of the combined company.@@@@1@42@@oe@2-2-2013
22329002@unknown@formal@none@1@S@HOFI, the North American holding company of Swiss concern Holderbank Financiere Glaris Ltd., previously proposed combining its 100% stake in St. Lawrence Cement Inc. and its 60% stake in Dundee Cement Co. with its 67% stake in Ideal.@@@@1@38@@oe@2-2-2013
22329003@unknown@formal@none@1@S@But HOFI's first offer would have given Ideal's other shareholders about 10% of the combined company.@@@@1@16@@oe@2-2-2013
22329004@unknown@formal@none@1@S@Ideal's directors rejected that offer, although they said they endorsed the merger proposal.@@@@1@13@@oe@2-2-2013
22329005@unknown@formal@none@1@S@Under the agreement, HOFI will own 87.2% of the combined company.@@@@1@11@@oe@2-2-2013
22329006@unknown@formal@none@1@S@Ideal's current operations will represent about 39.2% of the combined company.@@@@1@11@@oe@2-2-2013
22329007@unknown@formal@none@1@S@The transaction is subject to a definitive agreement and approval by Ideal shareholders.@@@@1@13@@oe@2-2-2013
22329008@unknown@formal@none@1@S@Ideal said it expects to complete the transaction early next year.@@@@1@11@@oe@2-2-2013
22330001@unknown@formal@none@1@S@While corn and soybean prices have slumped well below their drought-induced peaks of 1988, wheat prices remain stubbornly high.@@@@1@19@@oe@2-2-2013
22330002@unknown@formal@none@1@S@And they're likely to stay that way for months to come, analysts say.@@@@1@13@@oe@2-2-2013
22330003@unknown@formal@none@1@S@For one thing, even with many farmers planting more winter wheat this year than last, tight wheat supplies are likely to support prices well into 1990, the analysts say.@@@@1@29@@oe@2-2-2013
22330004@unknown@formal@none@1@S@And if rain doesn't fall soon across many of the Great Plains' wheat-growing areas, yields in the crop now being planted could be reduced, further squeezing supplies.@@@@1@27@@oe@2-2-2013
22330005@unknown@formal@none@1@S@Also supporting prices are expectations that the Soviet Union will place substantial buying orders over the next few months.@@@@1@19@@oe@2-2-2013
22330006@unknown@formal@none@1@S@By next May 31, stocks of U.S. wheat to be carried over into the next season -- before the winter wheat now being planted is harvested -- are projected to drop to 443 million bushels.@@@@1@35@@oe@2-2-2013
22330007@unknown@formal@none@1@S@That would be the lowest level since the early 1970s.@@@@1@10@@oe@2-2-2013
22330008@unknown@formal@none@1@S@Stocks were 698 million bushels on May 31 of this year.@@@@1@11@@oe@2-2-2013
22330009@unknown@formal@none@1@S@In response to dwindling domestic supplies, Agriculture Secretary Clayton Yeutter last month said the U.S. government would slightly increase the number of acres farmers can plant in wheat for next year and still qualify for federal support payments.@@@@1@38@@oe@2-2-2013
22330010@unknown@formal@none@1@S@The government estimates that the new plan will boost production next year by about 66 million bushels.@@@@1@17@@oe@2-2-2013
22330011@unknown@formal@none@1@S@It now estimates production for next year at just under 2.6 billion bushels, compared with this year's estimated 2.04 billion and a drought-stunted 1.81 billion in 1988.@@@@1@27@@oe@2-2-2013
22330012@unknown@formal@none@1@S@But the full effect on prices of the winter wheat now being planted won't be felt until the second half of next year.@@@@1@23@@oe@2-2-2013
22330013@unknown@formal@none@1@S@Until then, limited stocks are likely to keep prices near the $4-a-bushel level, analysts say.@@@@1@15@@oe@2-2-2013
22330014@unknown@formal@none@1@S@On the Chicago Board of Trade Friday, wheat for December delivery settled at $4.0675 a bushel, unchanged.@@@@1@17@@oe@2-2-2013
22330015@unknown@formal@none@1@S@In theory at least, tight supplies next spring could leave the wheat futures market susceptible to a supply-demand squeeze, said Daniel Basse, a futures analyst with AgResource Co. in Chicago.@@@@1@30@@oe@2-2-2013
22330016@unknown@formal@none@1@S@Such a situation can wreak havoc, as was shown by the emergency that developed in soybean futures trading this summer on the Chicago Board of Trade.@@@@1@26@@oe@2-2-2013
22330017@unknown@formal@none@1@S@In July, the CBOT ordered Ferruzzi Finanziaria S.p.A. to liquidate futures positions equal to about 23 million bushels of soybeans.@@@@1@20@@oe@2-2-2013
22330018@unknown@formal@none@1@S@The exchange said it feared that some members wouldn't be able to find enough soybeans to deliver and would have to default on their contractual obligation to the Italian conglomerate, which had refused requests to reduce its holdings.@@@@1@38@@oe@2-2-2013
22330019@unknown@formal@none@1@S@Ferruzzi has denied it was trying to manipulate the soybean futures market.@@@@1@12@@oe@2-2-2013
22330020@unknown@formal@none@1@S@Unseasonably hot, dry weather across large portions of the Great Plains and in wheat-growing areas in Washington and Oregon is threatening to reduce the yield from this season's winter wheat crop, said Conrad Leslie, a futures analyst and head of Leslie Analytical in Chicago.@@@@1@44@@oe@2-2-2013
22330021@unknown@formal@none@1@S@For example, in the Oklahoma panhandle, 40% or more of the topsoil is short of moisture.@@@@1@16@@oe@2-2-2013
22330022@unknown@formal@none@1@S@That figure climbs to about 47% in wheat-growing portions of Kansas, he said.@@@@1@13@@oe@2-2-2013
22330023@unknown@formal@none@1@S@The Soviet Union hasn't given any clear indication of its wheat purchase plans, but many analysts expect Moscow to place sizable orders for U.S. wheat in the next few months, further supporting prices.@@@@1@33@@oe@2-2-2013
22330024@unknown@formal@none@1@S@"Wheat prices will increasingly pivot off of Soviet demand" in coming weeks, predicted Richard Feltes, vice president, research, for Refco Inc. in Chicago.@@@@1@23@@oe@2-2-2013
22330025@unknown@formal@none@1@S@Looking ahead to other commodity markets this week:@@@@1@8@@oe@2-2-2013
22330026@unknown@formal@none@1@S@Orange Juice Traders will be watching to see how long and how far the price decline that began Friday will go.@@@@1@21@@oe@2-2-2013
22330027@unknown@formal@none@1@S@Late Thursday, after the close of trading, the market received what would normally have been a bullish U.S. Department of Agriculture estimate of the 1989-90 Florida orange crop.@@@@1@28@@oe@2-2-2013
22330028@unknown@formal@none@1@S@It was near the low range of estimates, at 130 million 90-pound boxes, compared with 146.6 million boxes last season.@@@@1@20@@oe@2-2-2013
22330029@unknown@formal@none@1@S@However, as expected, Brazil waited for the crop estimate to come out and then cut the export price of its juice concentrate to about $1.34 a pound from around $1.55.@@@@1@30@@oe@2-2-2013
22330030@unknown@formal@none@1@S@Friday's consequent selling of futures contracts erased whatever supportive effect the U.S. report might have had and sent the November orange juice contract down as much as 6.55 cents a pound at one time.@@@@1@34@@oe@2-2-2013
22330031@unknown@formal@none@1@S@It settled with a loss of 4.95 cents at $1.3210 a pound.@@@@1@12@@oe@2-2-2013
22330032@unknown@formal@none@1@S@Brazilian juice, after a delay caused by drought at the start of its crop season, is beginning to arrive in the U.S. in large quantities.@@@@1@25@@oe@2-2-2013
22330033@unknown@formal@none@1@S@Brazil wants to stimulate demand for its product, which is going to be in plentiful supply.@@@@1@16@@oe@2-2-2013
22330034@unknown@formal@none@1@S@The price cut, one analyst said, appeared to be aimed even more at Europe, where consumption of Brazilian juice has fallen.@@@@1@21@@oe@2-2-2013
22330035@unknown@formal@none@1@S@It's a dollar-priced product, and the strong dollar has made it more expensive in Europe, the analyst said.@@@@1@18@@oe@2-2-2013
22330036@unknown@formal@none@1@S@New York futures prices have dropped significantly from more than $2 a pound at midyear.@@@@1@15@@oe@2-2-2013
22330037@unknown@formal@none@1@S@Barring a cold snap or other crop problems in the growing areas, downward pressure on prices is likely to continue into January, when harvesting and processing of oranges in Florida reach their peak, the analyst said.@@@@1@36@@oe@2-2-2013
22330038@unknown@formal@none@1@S@Energy@@@@1@1@@oe@2-2-2013
22330039@unknown@formal@none@1@S@Although some analysts look for profit-taking in the wake of Friday's leap in crude oil prices, last week's rally is generally expected to continue this week.@@@@1@26@@oe@2-2-2013
22330040@unknown@formal@none@1@S@"I would continue to look for a stable crude market, at least in futures" trading, said William Hinton, an energy futures broker with Stotler & Co.@@@@1@26@@oe@2-2-2013
22330041@unknown@formal@none@1@S@Friday capped a week of steadily rising crude oil prices in both futures and spot markets.@@@@1@16@@oe@2-2-2013
22330042@unknown@formal@none@1@S@On the New York Mercantile Exchange, West Texas Intermediate crude for November delivery finished at $20.89 a barrel, up 42 cents on the day.@@@@1@24@@oe@2-2-2013
22330043@unknown@formal@none@1@S@On European markets, meanwhile, spot prices of North Sea crudes were up 35 to 75 cents a barrel.@@@@1@18@@oe@2-2-2013
22330044@unknown@formal@none@1@S@"This market still wants to go higher," said Nauman Barakat, a first vice president at Shearson Lehman Hutton Inc.@@@@1@19@@oe@2-2-2013
22330045@unknown@formal@none@1@S@He predicted that the November contract will reach $21.50 a barrel or more on the New York Mercantile Exchange.@@@@1@19@@oe@2-2-2013
22330046@unknown@formal@none@1@S@There has been little news to account for such buoyancy in the oil markets.@@@@1@14@@oe@2-2-2013
22330047@unknown@formal@none@1@S@Analysts generally cite a lack of bearish developments as well as rumors of a possible tightening of supplies of some fuels and crudes.@@@@1@23@@oe@2-2-2013
22330048@unknown@formal@none@1@S@There also are recurring reports that the Soviet Union is having difficulties with its oil exports and that Nigeria has about reached its production limit and can't produce as much as it could sell.@@@@1@34@@oe@2-2-2013
22330049@unknown@formal@none@1@S@Many traders foresee a tightening of near-term supplies, particularly of high-quality crudes such as those produced in the North Sea and in Nigeria.@@@@1@23@@oe@2-2-2013
22331001@unknown@formal@none@1@S@If a hostile predator emerges for Saatchi & Saatchi Co., co-founders Charles and Maurice Saatchi will lead a management buy-out attempt, an official close to the company said.@@@@1@28@@oe@2-2-2013
22331002@unknown@formal@none@1@S@Financing for any takeover attempt may be problematic in the wake of Friday's stock-market sell-off in New York and turmoil in the junk-bond market.@@@@1@24@@oe@2-2-2013
22331003@unknown@formal@none@1@S@But the beleaguered British advertising and consulting giant, which last week named a new chief executive officer to replace Maurice Saatchi, has been the subject of intense takeover speculation for weeks.@@@@1@31@@oe@2-2-2013
22331004@unknown@formal@none@1@S@Last week, Saatchi's largest shareholder, Southeastern Asset Management, said it had been approached by one or more third parties interested in a possible restructuring.@@@@1@24@@oe@2-2-2013
22331005@unknown@formal@none@1@S@And Carl Spielvogel, chief executive officer of Saatchi's big Backer Spielvogel Bates advertising unit, said he had offered to lead a management buy-out of the company, but was rebuffed by Charles Saatchi.@@@@1@32@@oe@2-2-2013
22331006@unknown@formal@none@1@S@Mr. Spielvogel said he wouldn't launch a hostile bid.@@@@1@9@@oe@2-2-2013
22331007@unknown@formal@none@1@S@The executive close to Saatchi & Saatchi said that "if a bidder came up with a ludicrously high offer, a crazy offer which Saatchi knew it couldn't beat, it would have no choice but to recommend it to shareholders.@@@@1@39@@oe@2-2-2013
22331008@unknown@formal@none@1@S@But {otherwise} it would undoubtedly come back" with an offer by management.@@@@1@12@@oe@2-2-2013
22331009@unknown@formal@none@1@S@The executive said any buy-out would be led by the current board, whose chairman is Maurice Saatchi and whose strategic guiding force is believed to be Charles Saatchi.@@@@1@28@@oe@2-2-2013
22331010@unknown@formal@none@1@S@Mr. Spielvogel isn't part of the board, nor are any of the other heads of Saatchi's big U.S.-based ad agencies.@@@@1@20@@oe@2-2-2013
22331011@unknown@formal@none@1@S@The executive didn't name any price, but securities analysts have said Saatchi would fetch upward of $1.3 billion.@@@@1@18@@oe@2-2-2013
22331012@unknown@formal@none@1@S@The executive denied speculation that Saatchi was bringing in the new chief executive officer only to clean up the company financially so that the brothers could lead a buy-back.@@@@1@29@@oe@2-2-2013
22331013@unknown@formal@none@1@S@That speculation abounded Friday as industry executives analyzed the appointment of the new chief executive, Robert Louis-Dreyfus, who joins Saatchi and becomes a member of its board on Jan. 1.@@@@1@30@@oe@2-2-2013
22331014@unknown@formal@none@1@S@Mr. Louis-Dreyfus, formerly chief executive of the pharmaceutical research firm IMS International Inc., has a reputation as a savvy financial manager, and will be charged largely with repairing Saatchi's poor financial state.@@@@1@32@@oe@2-2-2013
22331015@unknown@formal@none@1@S@Asked about the speculation that Mr. Louis-Dreyfus has been hired to pave the way for a buy-out by the brothers, the executive replied, "That isn't the reason Dreyfus has been brought in.@@@@1@32@@oe@2-2-2013
22331016@unknown@formal@none@1@S@He was brought in to turn around the company."@@@@1@9@@oe@2-2-2013
22331017@unknown@formal@none@1@S@Separately, several Saatchi agency clients said they believe the company's management shakeup will have little affect on them.@@@@1@18@@oe@2-2-2013
22331018@unknown@formal@none@1@S@"It hasn't had any impact on us, nor do we expect it to," said a spokeswoman for Miller Brewing Co., a major client of Backer Spielvogel.@@@@1@26@@oe@2-2-2013
22331019@unknown@formal@none@1@S@John Lampe, director of advertising at PaineWebber Inc., a Saatchi & Saatchi Advertising client, said: "We have no problem with the announcement, because we don't know what change it's going to bring about.@@@@1@33@@oe@2-2-2013
22331020@unknown@formal@none@1@S@We aren't going to change agencies because of a change in London."@@@@1@12@@oe@2-2-2013
22331021@unknown@formal@none@1@S@Executives at Backer Spielvogel client Avis Inc., as well as at Saatchi client Philips Lighting Co., also said they saw no effect.@@@@1@22@@oe@2-2-2013
22331022@unknown@formal@none@1@S@Executives at Prudential-Bache Securities Inc., a Backer Spielvogel client that is reviewing its account, declined comment.@@@@1@16@@oe@2-2-2013
22331023@unknown@formal@none@1@S@Mr. Spielvogel had said that Prudential-Bache was prepared to finance either a management buy-out and restructuring, or a buy-out of Backer Spielvogel alone, led by him.@@@@1@26@@oe@2-2-2013
22331024@unknown@formal@none@1@S@Ad Notes. . . .@@@@1@5@@oe@2-2-2013
22331025@unknown@formal@none@1@S@NEW ACCOUNT:@@@@1@2@@oe@2-2-2013
22331026@unknown@formal@none@1@S@California's Glendale Federal Bank awarded its $12 million to $15 million account to the Los Angeles office of Omnicom Group's BBDO agency.@@@@1@22@@oe@2-2-2013
22331027@unknown@formal@none@1@S@The account was previously handled by Davis, Ball & Colombatto Advertising Inc., a Los Angeles agency.@@@@1@16@@oe@2-2-2013
22331028@unknown@formal@none@1@S@ACCOUNT REVIEW:@@@@1@2@@oe@2-2-2013
22331029@unknown@formal@none@1@S@Royal Crown Cola Co. has ended its relationship with the Boston office of Hill, Holliday, Connors, Cosmopulos.@@@@1@17@@oe@2-2-2013
22331030@unknown@formal@none@1@S@The account had billed about $6 million in 1988, according to Leading National Advertisers.@@@@1@14@@oe@2-2-2013
22331031@unknown@formal@none@1@S@NOT-GUILTY PLEA:@@@@1@2@@oe@2-2-2013
22331032@unknown@formal@none@1@S@As expected, Young & Rubicam Inc. along with two senior executives and a former employee, pleaded not guilty in federal court in New Haven, Conn., to conspiracy and racketeering charges.@@@@1@30@@oe@2-2-2013
22331033@unknown@formal@none@1@S@The government has charged that they bribed Jamaican officials to win the Jamaica Tourist Board ad account in 1981.@@@@1@19@@oe@2-2-2013
22331034@unknown@formal@none@1@S@A spokesman for the U.S. Attorney's office said extradition proceedings are "just beginning" for the other two defendants in the case, Eric Anthony Abrahams, former Jamaican tourism minister, and Jamaican businessman Arnold Foote Jr.@@@@1@34@@oe@2-2-2013
22331035@unknown@formal@none@1@S@KOREAN AGENCY:@@@@1@2@@oe@2-2-2013
22331036@unknown@formal@none@1@S@The Samsung Group and Bozell Inc. agreed to establish a joint venture advertising agency in South Korea.@@@@1@17@@oe@2-2-2013
22331037@unknown@formal@none@1@S@Bozell Cheil Corp., as the new agency will be called, will be based in Seoul and is 70% owned by Samsung and 30% owned by Bozell.@@@@1@26@@oe@2-2-2013
22331038@unknown@formal@none@1@S@Samsung already owns Korea First Advertising Co., that country's largest agency.@@@@1@11@@oe@2-2-2013
22331039@unknown@formal@none@1@S@Bozell joins Backer Spielvogel Bates and Ogilvy Group as U.S. agencies with interests in Korean agencies.@@@@1@16@@oe@2-2-2013
22332001@unknown@formal@none@1@S@Citing a payment from a supplier and strong sales of certain data-storage products, Maxtor Corp. said earnings and revenue jumped in its second quarter ended Sept. 24.@@@@1@27@@oe@2-2-2013
22332002@unknown@formal@none@1@S@The maker of computer-data-storage products said net income rose to $4.8 million, or 23 cents a share, from year-earlier net of $1.1 million, or five cents a share.@@@@1@28@@oe@2-2-2013
22332003@unknown@formal@none@1@S@Revenue soared to $117 million from $81.5 million.@@@@1@8@@oe@2-2-2013
22332004@unknown@formal@none@1@S@Maxtor said its results were boosted by $2 million in payments received from a supplier, for a certain line of products that Maxtor isn't going to sell anymore.@@@@1@28@@oe@2-2-2013
22332005@unknown@formal@none@1@S@Maxtor said effects from discontinuing the line may have a positive effect on future earnings and revenue.@@@@1@17@@oe@2-2-2013
22332006@unknown@formal@none@1@S@A spokeswoman wouldn't elaborate, but the company said the discontinued product has never been a major source of revenue or profit.@@@@1@21@@oe@2-2-2013
22332007@unknown@formal@none@1@S@Operationally, Maxtor benefited from robust sales of products that store data for high-end personal computers and computer workstations.@@@@1@18@@oe@2-2-2013
22332008@unknown@formal@none@1@S@In the fiscal first half, net was $7 million, or 34 cents a share, up from the year-earlier $3.1 million, or 15 cents a share.@@@@1@25@@oe@2-2-2013
22332009@unknown@formal@none@1@S@Revenue rose to $225.5 million from $161.8 million.@@@@1@8@@oe@2-2-2013
22333001@unknown@formal@none@1@S@Robert G. Walden, 62 years old, was elected a director of this provider of advanced technology systems and services, increasing the board to eight members.@@@@1@25@@oe@2-2-2013
22333002@unknown@formal@none@1@S@He retired as senior vice president, finance and administration, and chief financial officer of the company Oct. 1.@@@@1@18@@oe@2-2-2013
22334001@unknown@formal@none@1@S@Southmark Corp. said that it filed part of its 10-K report with the Securities and Exchange Commission, but that the filing doesn't include its audited financial statements and related information.@@@@1@30@@oe@2-2-2013
22334002@unknown@formal@none@1@S@The real estate and thrift concern, operating under bankruptcy-law proceedings, said it told the SEC it couldn't provide financial statements by the end of its first extension "without unreasonable burden or expense."@@@@1@32@@oe@2-2-2013
22334003@unknown@formal@none@1@S@The company asked for a 15-day extension Sept. 30, when the financial reports were due.@@@@1@15@@oe@2-2-2013
22334004@unknown@formal@none@1@S@Southmark said it plans to amend its 10K to provide financial results as soon as its audit is completed.@@@@1@19@@oe@2-2-2013
22335001@unknown@formal@none@1@S@Alan Seelenfreund, 52 years old, was named chairman of this processor of prescription claims, succeeding Thomas W. Field Jr., 55, who resigned last month.@@@@1@24@@oe@2-2-2013
22335002@unknown@formal@none@1@S@Mr. Field also had been chairman of McKesson Corp., resigning that post after a dispute with the board over corporate strategy.@@@@1@21@@oe@2-2-2013
22335003@unknown@formal@none@1@S@Mr. Seelenfreund is executive vice president and chief financial officer of McKesson and will continue in those roles.@@@@1@18@@oe@2-2-2013
22335004@unknown@formal@none@1@S@PCS also named Rex R. Malson, 57, executive vice president at McKesson, as a director, filling the seat vacated by Mr. Field.@@@@1@22@@oe@2-2-2013
22335005@unknown@formal@none@1@S@Messrs. Malson and Seelenfreund are directors of McKesson, which has an 86% stake in PCS.@@@@1@15@@oe@2-2-2013
22336001@unknown@formal@none@1@S@MedChem Products Inc. said a U.S. District Court in Boston ruled that a challenge by MedChem to the validity of a U.S. patent held by Pharmacia Inc. was "without merit."@@@@1@30@@oe@2-2-2013
22336002@unknown@formal@none@1@S@Pharmacia, based in Upsala, Sweden, had charged in a lawsuit against MedChem that MedChem's AMVISC product line infringes on the Pharmacia patent.@@@@1@22@@oe@2-2-2013
22336003@unknown@formal@none@1@S@The patent is related to hyaluronic acid, a rooster-comb extract used in eye surgery.@@@@1@14@@oe@2-2-2013
22336004@unknown@formal@none@1@S@In its lawsuit, Pharmacia is seeking unspecified damages and a preliminary injunction to block MedChem from selling the AMVISC products.@@@@1@20@@oe@2-2-2013
22336005@unknown@formal@none@1@S@A MedChem spokesman said the products contribute about a third of MedChem's sales and 10% to 20% of its earnings.@@@@1@20@@oe@2-2-2013
22336006@unknown@formal@none@1@S@In the year ended Aug. 31, 1988, MedChem earned $2.9 million, or 72 cents a share, on sales of $17.4 million.@@@@1@21@@oe@2-2-2013
22336007@unknown@formal@none@1@S@MedChem said the court's ruling was issued as part of a "first-phase trial" in the patent-infringement proceedings and concerns only one of its defenses in the case.@@@@1@27@@oe@2-2-2013
22336008@unknown@formal@none@1@S@It said it is considering "all of its options in light of the decision, including a possible appeal."@@@@1@18@@oe@2-2-2013
22336009@unknown@formal@none@1@S@The medical-products company added that it plans to "assert its other defenses" against Pharmacia's lawsuit, including the claim that it hasn't infringed on Pharmacia's patent.@@@@1@25@@oe@2-2-2013
22336010@unknown@formal@none@1@S@MedChem said that the court scheduled a conference for next Monday -- to set a date for proceedings on Pharmacia's motion for a preliminary injunction.@@@@1@25@@oe@2-2-2013
22337001@unknown@formal@none@1@S@Newspaper publishers are reporting mixed third-quarter results, aided by favorable newsprint prices and hampered by flat or declining advertising linage, especially in the Northeast.@@@@1@24@@oe@2-2-2013
22337002@unknown@formal@none@1@S@Adding to unsteadiness in the industry, seasonal retail ad spending patterns in newspapers have been upset by shifts in ownership and general hardships within the retail industry.@@@@1@27@@oe@2-2-2013
22337003@unknown@formal@none@1@S@In New York, the Bonwit Teller and B. Altman & Co. department stores have filed for protection from creditors under Chapter 11 of the federal Bankruptcy Code, while the R.H. Macy & Co., Bloomingdale's and Saks Fifth Avenue department-store chains are for sale.@@@@1@43@@oe@2-2-2013
22337004@unknown@formal@none@1@S@Many papers throughout the country are also faced with a slowdown in classified-ad spending, a booming category for newspapers in recent years.@@@@1@22@@oe@2-2-2013
22337005@unknown@formal@none@1@S@Until recently, industry analysts believed decreases in retail ad spending had bottomed out and would in fact increase in this year's third and fourth quarters.@@@@1@25@@oe@2-2-2013
22337006@unknown@formal@none@1@S@All bets are off, analysts say, because of the shifting ownership of the retail chains.@@@@1@15@@oe@2-2-2013
22337007@unknown@formal@none@1@S@"Improved paper prices will help offset weakness in linage, but the retailers' problems have affected the amount of ad linage they usually run," said Edward J. Atorino, industry analyst for Salomon Brothers Inc.@@@@1@33@@oe@2-2-2013
22337008@unknown@formal@none@1@S@"Retailers are just in disarray."@@@@1@5@@oe@2-2-2013
22337009@unknown@formal@none@1@S@For instance, Gannett Co. posted an 11% gain in net income, as total ad pages dropped at USA Today, but advertising revenue rose because of a higher circulation rate base and increased rates.@@@@1@33@@oe@2-2-2013
22337010@unknown@formal@none@1@S@Gannett's 83 daily and 35 non-daily newspapers reported a 3% increase in advertising and circulation revenue.@@@@1@16@@oe@2-2-2013
22337011@unknown@formal@none@1@S@Total advertising linage was "modestly" lower as classified-ad volume increased, while there was "softer demand" for retail and national ad linage, said John Curley, Gannett's chief executive officer.@@@@1@28@@oe@2-2-2013
22337012@unknown@formal@none@1@S@At USA Today, ad pages totaled 785 for the quarter, down 9.2% from the 1988 period, which was helped by increased ad spending from the Summer Olympics.@@@@1@27@@oe@2-2-2013
22337013@unknown@formal@none@1@S@While USA Today's total paid ad pages for the year to date totaled 2,735, a decrease of 4% from last year, the paper's ad revenue increased 8% in the quarter and 13% in the nine months.@@@@1@36@@oe@2-2-2013
22337014@unknown@formal@none@1@S@In the nine months, Gannett's net rose 9.5% to $270 million, or $1.68 a share, from $247 million, or $1.52 a share.@@@@1@22@@oe@2-2-2013
22337015@unknown@formal@none@1@S@Revenue gained 6% to $2.55 billion from $2.4 billion.@@@@1@9@@oe@2-2-2013
22337016@unknown@formal@none@1@S@At Dow Jones & Co., third-quarter net income fell 9.9% from the year-earlier period.@@@@1@14@@oe@2-2-2013
22337017@unknown@formal@none@1@S@Net fell to $28.8 million, or 29 cents a share, from $32 million, or 33 cents a share.@@@@1@18@@oe@2-2-2013
22337018@unknown@formal@none@1@S@The year-earlier period included a one-time gain of $3.5 million, or four cents a share.@@@@1@15@@oe@2-2-2013
22337019@unknown@formal@none@1@S@Revenue gained 5.3% to $404.1 million from $383.8 million.@@@@1@9@@oe@2-2-2013
22337020@unknown@formal@none@1@S@The drop in profit reflected, in part, continued softness in financial advertising at The Wall Street Journal and Barron's magazine.@@@@1@20@@oe@2-2-2013
22337021@unknown@formal@none@1@S@Ad linage at the Journal fell 6.1% in the third quarter.@@@@1@11@@oe@2-2-2013
22337022@unknown@formal@none@1@S@Affiliated Publications Inc. reversed a year-earlier third quarter net loss.@@@@1@10@@oe@2-2-2013
22337023@unknown@formal@none@1@S@The publisher of the Boston Globe reported net of $8.5 million, or 12 cents a share, compared with a loss of $26.5 million, or 38 cents a share, for the third quarter in 1988.@@@@1@34@@oe@2-2-2013
22337024@unknown@formal@none@1@S@William O. Taylor, the parent's chairman and chief executive officer, said earnings continued to be hurt by softness in ad volume at the Boston newspaper.@@@@1@25@@oe@2-2-2013
22337025@unknown@formal@none@1@S@Third-quarter profit estimates for several companies are being strongly affected by the price of newsprint, which in the last two years has had several price increases.@@@@1@26@@oe@2-2-2013
22337026@unknown@formal@none@1@S@After a supply crunch caused prices to rise 14% since 1986 to $650 a metric ton, analysts are encouraged, because they don't expect a price increase for the rest of this year.@@@@1@32@@oe@2-2-2013
22337027@unknown@formal@none@1@S@Companies with daily newspapers in the Northeast will need the stable newsprint prices to ease damage from weak ad linage.@@@@1@20@@oe@2-2-2013
22337028@unknown@formal@none@1@S@Mr. Atorino at Salomon Brothers said he estimates that Times Mirror Co.'s earnings were down for the third quarter, because of soft advertising levels at its Long Island Newsday and Hartford Courant newspapers.@@@@1@33@@oe@2-2-2013
22337029@unknown@formal@none@1@S@Trouble on the East Coast was likely offset by improved ad linage at the Los Angeles Times, which this week also unveiled a redesign.@@@@1@24@@oe@2-2-2013
22337030@unknown@formal@none@1@S@New York Times Co. is expected to report lower earnings for the third quarter because of continued weak advertising levels at its flagship New York Times and deep discounting of newsprint at its affiliate, Forest Products Group.@@@@1@37@@oe@2-2-2013
22337031@unknown@formal@none@1@S@"Times Co.'s regional daily newspapers are holding up well, but there is little sign that things will improve in the New York market," said Alan Kassan, an analyst with Shearson Lehman Hutton.@@@@1@32@@oe@2-2-2013
22337032@unknown@formal@none@1@S@Washington Post Co. is expected to report improved earnings, largely because of increased cable revenue and publishing revenue helped by an improved retail market in the Washington area.@@@@1@28@@oe@2-2-2013
22337033@unknown@formal@none@1@S@According to analysts, profits were also helped by successful cost-cutting measures at Newsweek.@@@@1@13@@oe@2-2-2013
22337034@unknown@formal@none@1@S@The news-weekly has faced heightened competition from rival Time magazine and a relatively flat magazine advertising market.@@@@1@17@@oe@2-2-2013
22337035@unknown@formal@none@1@S@Knight-Ridder Inc. is faced with continued uncertainty over the pending joint operating agreement between its Detroit Free Press and Gannett's Detroit News, and has told analysts that earnings were down in the third quarter.@@@@1@34@@oe@2-2-2013
22337036@unknown@formal@none@1@S@However, analysts point to positive advertising spending at several of its major daily newspapers, such as the Miami Herald and San Jose Mercury News.@@@@1@24@@oe@2-2-2013
22337037@unknown@formal@none@1@S@"The Miami market is coming back strong after a tough couple of years" when Knight-Ridder "was starting up a Hispanic edition and circulation was falling," said Bruce Thorp, an analyst for Provident National Bank.@@@@1@34@@oe@2-2-2013
22338001@unknown@formal@none@1@S@General Motors Corp., in a series of moves that angered union officials in the U.S. and Canada, has signaled that as many as five North American assembly plants may not survive the mid-1990s as the corporation struggles to cut its excess vehicle-making capacity.@@@@1@43@@oe@2-2-2013
22338002@unknown@formal@none@1@S@In announcements to workers late last week, GM effectively signed death notices for two full-sized van assembly plants, and cast serious doubt on the futures of three U.S. car factories.@@@@1@30@@oe@2-2-2013
22338003@unknown@formal@none@1@S@GM is under intense pressure to close factories that became unprofitable as the giant auto maker's U.S. market share skidded during the past decade.@@@@1@24@@oe@2-2-2013
22338004@unknown@formal@none@1@S@The company, currently using about 80% of its North American vehicle capacity, has vowed it will run at 100% of capacity by 1992.@@@@1@23@@oe@2-2-2013
22338005@unknown@formal@none@1@S@Just a month ago, GM announced it would make an aging assembly plant in Lakewood, Ga., the eighth U.S. assembly facility to close since 1987.@@@@1@25@@oe@2-2-2013
22338006@unknown@formal@none@1@S@Now, GM appears to be stepping up the pace of its factory consolidation to get in shape for the 1990s.@@@@1@20@@oe@2-2-2013
22338007@unknown@formal@none@1@S@One reason is mounting competition from new Japanese car plants in the U.S. that are pouring out more than one million vehicles a year at costs lower than GM can match.@@@@1@31@@oe@2-2-2013
22338008@unknown@formal@none@1@S@Another is that United Auto Workers union officials have signaled they want tighter no-layoff provisions in the new Big Three national contract that will be negotiated next year.@@@@1@28@@oe@2-2-2013
22338009@unknown@formal@none@1@S@GM officials want to get their strategy to reduce capacity and the work force in place before those talks begin.@@@@1@20@@oe@2-2-2013
22338010@unknown@formal@none@1@S@The problem, however, is that GM's moves are coming at a time when UAW leaders are trying to silence dissidents who charge the union is too passive in the face of GM layoffs.@@@@1@33@@oe@2-2-2013
22338011@unknown@formal@none@1@S@Against that backdrop, UAW Vice President Stephen P. Yokich, who recently became head of the union's GM department, issued a statement Friday blasting GM's "flagrant insensitivity" toward union members.@@@@1@29@@oe@2-2-2013
22338012@unknown@formal@none@1@S@The auto maker's decision to let word of the latest shutdowns and product reassignments trickle out in separate communiques to the affected plants showed "disarray" and an "inability or unwillingness to provide consistent information," Mr. Yokich said.@@@@1@37@@oe@2-2-2013
22338013@unknown@formal@none@1@S@GM officials told workers late last week of the following moves: Production of full-sized vans will be consolidated into a single plant in Flint, Mich.@@@@1@25@@oe@2-2-2013
22338014@unknown@formal@none@1@S@That means two plants -- one in Scarborough, Ontario, and the other in Lordstown, Ohio -- probably will be shut down after the end of 1991.@@@@1@26@@oe@2-2-2013
22338015@unknown@formal@none@1@S@The shutdowns will idle about 3,000 Canadian assembly workers and about 2,500 workers in Ohio.@@@@1@15@@oe@2-2-2013
22338016@unknown@formal@none@1@S@Robert White, Canadian Auto Workers union president, used the impending Scarborough shutdown to criticize the U.S.-Canada free trade agreement and its champion, Prime Minister Brian Mulroney.@@@@1@26@@oe@2-2-2013
22338017@unknown@formal@none@1@S@But Canadian auto workers may benefit from a separate GM move that affects three U.S. car plants and one in Quebec.@@@@1@21@@oe@2-2-2013
22338018@unknown@formal@none@1@S@Workers at plants in Van Nuys, Calif., Oklahoma City and Pontiac, Mich., were told their facilities are no longer being considered to build the next generation of the Pontiac Firebird and Chevrolet Camaro muscle cars.@@@@1@35@@oe@2-2-2013
22338019@unknown@formal@none@1@S@GM is studying whether it can build the new Camaro-Firebird profitably at a plant in St. Therese, Quebec, company and union officials said.@@@@1@23@@oe@2-2-2013
22338020@unknown@formal@none@1@S@That announcement left union officials in Van Nuys and Oklahoma City uncertain about their futures.@@@@1@15@@oe@2-2-2013
22338021@unknown@formal@none@1@S@The Van Nuys plant, which employs about 3,000 workers, doesn't have a product to build after 1993.@@@@1@17@@oe@2-2-2013
22338022@unknown@formal@none@1@S@Jerry Shrieves, UAW local president, said the facility was asked to draw up plans to continue working as a "flex plant," which could build several different types of products on short notice to satisfy demand.@@@@1@35@@oe@2-2-2013
22338023@unknown@formal@none@1@S@At the Oklahoma City plant, which employs about 6,000 workers building the eight-year-old A-body mid-sized cars, Steve Featherston, UAW local vice president, said the plant has no new product lined up, and "none of us knows" when the A-body cars will die.@@@@1@42@@oe@2-2-2013
22338024@unknown@formal@none@1@S@He said he believes GM has plans to keep building A-body cars into the mid-1990s.@@@@1@15@@oe@2-2-2013
22338025@unknown@formal@none@1@S@At Pontiac, however, the Camaro-Firebird decision appears to erase UAW hopes that GM would reopen the shuttered assembly plant that last built the plastic-bodied, two-seater Pontiac Fiero model.@@@@1@28@@oe@2-2-2013
22338026@unknown@formal@none@1@S@The Fiero plant was viewed as a model of union-management cooperation at GM before slow sales of the Fiero forced the company to close the factory last year.@@@@1@28@@oe@2-2-2013
22338027@unknown@formal@none@1@S@Union officials have taken a beating politically as a result.@@@@1@10@@oe@2-2-2013
22338028@unknown@formal@none@1@S@Dissident UAW members have used the Fiero plant as a symbol of labor-management cooperation's failure.@@@@1@15@@oe@2-2-2013
22339001@unknown@formal@none@1@S@Institut Merieux S.A. of France said the Canadian government raised an obstacle to its proposed acquisition of Connaught BioSciences Inc. for 942 million Canadian dollars (US$801.6 million).@@@@1@27@@oe@2-2-2013
22339002@unknown@formal@none@1@S@Merieux said the government's minister of industry, science and technology told it that he wasn't convinced that the purchase is likely to be of "net benefit" to Canada.@@@@1@28@@oe@2-2-2013
22339003@unknown@formal@none@1@S@Canadian investment rules require that big foreign takeovers meet that standard.@@@@1@11@@oe@2-2-2013
22339004@unknown@formal@none@1@S@The French company said the government gave it 30 days in which to submit information to further support its takeover plan.@@@@1@21@@oe@2-2-2013
22339005@unknown@formal@none@1@S@Both Merieux and Connaught are biotechnology research and vaccine manufacturing concerns.@@@@1@11@@oe@2-2-2013
22339006@unknown@formal@none@1@S@The government's action was unusual.@@@@1@5@@oe@2-2-2013
22339007@unknown@formal@none@1@S@Alan Nymark, executive vice president of Investment Canada, which oversees foreign takeovers, said it marked the first time in its four-year history that the agency has made an adverse net-benefit decision about the acquisition of a publicly traded company.@@@@1@39@@oe@2-2-2013
22339008@unknown@formal@none@1@S@He said it has reached the same conclusions about some attempts to buy closely held concerns, but eventually allowed those acquisitions to proceed.@@@@1@23@@oe@2-2-2013
22339009@unknown@formal@none@1@S@"This isn't a change in government policy; this provision has been used before," said Jodi Redmond, press secretary for Harvie Andre, Canada's minister of industry, science and technology.@@@@1@28@@oe@2-2-2013
22339010@unknown@formal@none@1@S@Mr. Andre issued the ruling based on a recommendation by Investment Canada.@@@@1@12@@oe@2-2-2013
22339011@unknown@formal@none@1@S@Spokesmen for Merieux and Connaught said they hadn't been informed of specific areas of concern by either the government or Investment Canada, but added they hope to have more information early this week.@@@@1@33@@oe@2-2-2013
22339012@unknown@formal@none@1@S@Investment Canada declined to comment on the reasons for the government decision.@@@@1@12@@oe@2-2-2013
22339013@unknown@formal@none@1@S@Viren Mehta, a partner with Mehta & Isaly, a New York-based pharmaceutical industry research firm, said the government's ruling wasn't unexpected.@@@@1@21@@oe@2-2-2013
22339014@unknown@formal@none@1@S@"This has become a very politicized deal, concerning Canada's only large, world-class bio-research or pharmaceutical company," Mr. Mehta said.@@@@1@19@@oe@2-2-2013
22339015@unknown@formal@none@1@S@Mr. Mehta said the move that could allow the transaction to go ahead as planned could be an out-of-court settlement of Connaught's dispute with the University of Toronto.@@@@1@28@@oe@2-2-2013
22339016@unknown@formal@none@1@S@The University is seeking to block the acquisition of Connaught by foreign interests, citing concerns about the amount of research that would be done in Canada.@@@@1@26@@oe@2-2-2013
22339017@unknown@formal@none@1@S@The university is considering a settlement proposal made by Connaught.@@@@1@10@@oe@2-2-2013
22339018@unknown@formal@none@1@S@While neither side will disclose its contents, Mr. Mehta expects it to contain more specific guarantees on research and development spending levels in Canada than Merieux offered to Investment Canada.@@@@1@30@@oe@2-2-2013
22339019@unknown@formal@none@1@S@Some analysts, such as Murray Grossner of Toronto-based Richardson Greenshields Inc., believe the government ruling leaves the door open for other bidders, such as Switzerland's Ciba-Geigy and Chiron Corp. of Emeryville, Calif.@@@@1@32@@oe@2-2-2013
22339020@unknown@formal@none@1@S@Officials for the two concerns, which are bidding C$30 a share for Connaught, couldn't be reached for comment.@@@@1@18@@oe@2-2-2013
22339021@unknown@formal@none@1@S@French state-owned Rhone-Poulenc S.A. holds 51% of Merieux.@@@@1@8@@oe@2-2-2013
22340001@unknown@formal@none@1@S@Weatherford International Inc. said it canceled plans for a preferred-stock swap but may resume payment of dividends on the stock, and added that it expects to publicly offer about 10 million common shares.@@@@1@33@@oe@2-2-2013
22340002@unknown@formal@none@1@S@The company said it planned to offer an undetermined number of common shares in exchange for the 585,000 shares of its preferred stock outstanding.@@@@1@24@@oe@2-2-2013
22340003@unknown@formal@none@1@S@The exchange ratio was never established.@@@@1@6@@oe@2-2-2013
22340004@unknown@formal@none@1@S@Weatherford said market conditions led to the cancellation of the planned exchange.@@@@1@12@@oe@2-2-2013
22340005@unknown@formal@none@1@S@The energy-services concern said, however, that in January 1990, it may resume payments of dividends on the preferred stock.@@@@1@19@@oe@2-2-2013
22340006@unknown@formal@none@1@S@Weatherford suspended its preferred-dividend payment in October 1985 and said it hasn't any plans to catch up on dividends in arrears about $6 million, but will do so some time in the future.@@@@1@33@@oe@2-2-2013
22340007@unknown@formal@none@1@S@Additionally, the company said it filed with the Securities and Exchange Commission for the proposed offering of 10 million shares of common stock, expected to be offered in November.@@@@1@29@@oe@2-2-2013
22340008@unknown@formal@none@1@S@The company said Salomon Brothers Inc. and Howard, Weil, Labouisse, Friedrichs Inc., underwriters for the offering, were granted an option to buy as much as an additional 1.5 million shares to cover over-allotments.@@@@1@33@@oe@2-2-2013
22340009@unknown@formal@none@1@S@Proceeds will be used to eliminate and restructure bank debt.@@@@1@10@@oe@2-2-2013
22340010@unknown@formal@none@1@S@Weatherford currently has approximately 11.1 million common shares outstanding.@@@@1@9@@oe@2-2-2013
22341001@unknown@formal@none@1@S@Earnings for most of the nation's major pharmaceutical makers are believed to have moved ahead briskly in the third quarter, as companies with newer, big-selling prescription drugs fared especially well.@@@@1@30@@oe@2-2-2013
22341002@unknown@formal@none@1@S@For the third consecutive quarter, however, most of the companies' revenues were battered by adverse foreign-currency translations as a result of the strong dollar abroad.@@@@1@25@@oe@2-2-2013
22341003@unknown@formal@none@1@S@Analysts said that Merck & Co., Eli Lilly & Co., Warner-Lambert Co. and the Squibb Corp. unit of Bristol-Myers Squibb Co. all benefited from strong sales of relatively new, higher-priced medicines that provide wide profit margins.@@@@1@36@@oe@2-2-2013
22341004@unknown@formal@none@1@S@Less robust earnings at Pfizer Inc. and Upjohn Co. were attributed to those companies' older products, many of which face stiffening competition from generic drugs and other medicines.@@@@1@28@@oe@2-2-2013
22341005@unknown@formal@none@1@S@Joseph Riccardo, an analyst with Bear, Stearns & Co., said that over the past few years most drug makers have shed their slow-growing businesses and instituted other cost savings, such as consolidating manufacturing plants and administrative staffs.@@@@1@37@@oe@2-2-2013
22341006@unknown@formal@none@1@S@As a result, "major new products are having significant impact, even on a company with very large revenues," Mr. Riccardo said.@@@@1@21@@oe@2-2-2013
22341007@unknown@formal@none@1@S@Analysts said profit for the dozen or so big drug makers, as a group, is estimated to have climbed between 11% and 14%.@@@@1@23@@oe@2-2-2013
22341008@unknown@formal@none@1@S@While that's not spectacular, Neil Sweig, an analyst with Prudential Bache, said that the rate of growth will "look especially good as compared to other companies if the economy turns downward."@@@@1@31@@oe@2-2-2013
22341009@unknown@formal@none@1@S@Mr. Sweig estimated that Merck's profit for the quarter rose by about 22%, propelled by sales of its line-up of fast-growing prescription drugs, including its anti-cholesterol drug, Mevacor; a high blood pressure medicine, Vasotec; Primaxin, an antibiotic, and Pepcid, an anti-ulcer medication.@@@@1@42@@oe@2-2-2013
22341010@unknown@formal@none@1@S@Profit climbed even though Merck's sales were reduced by "one to three percentage points" as a result of the strong dollar, Mr. Sweig said.@@@@1@24@@oe@2-2-2013
22341011@unknown@formal@none@1@S@In the third quarter of 1988, Merck earned $311.8 million, or 79 cents a share.@@@@1@15@@oe@2-2-2013
22341012@unknown@formal@none@1@S@In Rahway, N.J., a Merck spokesman said the company doesn't make earnings projections.@@@@1@13@@oe@2-2-2013
22341013@unknown@formal@none@1@S@Mr. Sweig said he estimated that Lilly's earnings for the quarter jumped about 20%, largely because of the performance of its new anti-depressant Prozac.@@@@1@24@@oe@2-2-2013
22341014@unknown@formal@none@1@S@The drug, introduced last year, is expected to generate sales of about $300 million this year.@@@@1@16@@oe@2-2-2013
22341015@unknown@formal@none@1@S@"It's turning out to be a real blockbuster," Mr. Sweig said.@@@@1@11@@oe@2-2-2013
22341016@unknown@formal@none@1@S@In last year's third quarter, Lilly earned $171.4 million, or $1.20 a share.@@@@1@13@@oe@2-2-2013
22341017@unknown@formal@none@1@S@In Indianapolis, Lilly declined comment.@@@@1@5@@oe@2-2-2013
22341018@unknown@formal@none@1@S@Several analysts said they expected Warner-Lambert's profit also to increase by more than 20% from $87.7 million, or $1.25 a share, it reported in the like period last year.@@@@1@29@@oe@2-2-2013
22341019@unknown@formal@none@1@S@The company is praised by analysts for sharply lowering its costs in recent years and shedding numerous companies with low profit margins.@@@@1@22@@oe@2-2-2013
22341020@unknown@formal@none@1@S@The company's lean operation, analysts said, allowed sharp-rising sales from its cholesterol drug, Lopid, to power earnings growth.@@@@1@18@@oe@2-2-2013
22341021@unknown@formal@none@1@S@Lopid sales are expected to be about $300 million this year, up from $190 million in 1988.@@@@1@17@@oe@2-2-2013
22341022@unknown@formal@none@1@S@In Morris Plains, N.J., a spokesman for the company said the analysts' projections are "in the ballpark."@@@@1@17@@oe@2-2-2013
22341023@unknown@formal@none@1@S@Squibb's profit, estimated by analysts to be about 18% above the $123 million, or $1.25 a share, it earned in the third quarter of 1988, was the result of especially strong sales of its Capoten drug for treating high blood pressure and other heart disease.@@@@1@45@@oe@2-2-2013
22341024@unknown@formal@none@1@S@The company was officially merged with Bristol-Myers Co. earlier this month.@@@@1@11@@oe@2-2-2013
22341025@unknown@formal@none@1@S@Bristol-Myers declined to comment.@@@@1@4@@oe@2-2-2013
22341026@unknown@formal@none@1@S@Mr. Riccardo of Bear Stearns said that Schering-Plough Corp.'s expected profit rise of about 18% to 20%, and Bristol-Meyers's expected profit increase of about 13% are largely because "those companies are really managed well."@@@@1@34@@oe@2-2-2013
22341027@unknown@formal@none@1@S@ScheringPlough earned $94.4 million, or 84 cents a share, while Bristol-Myers earned $232.3 million, or 81 cents a share, in the like period a year earlier.@@@@1@26@@oe@2-2-2013
22341028@unknown@formal@none@1@S@In Madison, N.J., a spokesman for Schering-Plough said the company has "no problems" with the average estimate by a analysts that third-quarter earnings per share rose by about 19%, to $1.@@@@1@31@@oe@2-2-2013
22341029@unknown@formal@none@1@S@The company expects to achieve the 20% increase in full-year earnings per share, as it projected in the spring, the spokesman said.@@@@1@22@@oe@2-2-2013
22341030@unknown@formal@none@1@S@Meanwhile, analysts said Pfizer's recent string of lackluster quarterly performances continued, as earnings in the quarter were expected to decline by about 5%.@@@@1@23@@oe@2-2-2013
22341031@unknown@formal@none@1@S@Sales of Pfizer's important drugs, Feldene for treating arthritis, and Procardia, a heart medicine, have shrunk because of increased competition.@@@@1@20@@oe@2-2-2013
22341032@unknown@formal@none@1@S@"The (strong) dollar hurt Pfizer a lot, too," Mr. Sweig said.@@@@1@11@@oe@2-2-2013
22341033@unknown@formal@none@1@S@In the third quarter last year, Pfizer earned $216.8 million, or $1.29 a share.@@@@1@14@@oe@2-2-2013
22341034@unknown@formal@none@1@S@In New York, the company declined comment.@@@@1@7@@oe@2-2-2013
22341035@unknown@formal@none@1@S@Analysts said they expected Upjohn's profit to be flat or rise by only about 2% to 4% as compared with $89.6 million, or 49 cents a share, it earned a year ago.@@@@1@32@@oe@2-2-2013
22341036@unknown@formal@none@1@S@Upjohn's biggest-selling drugs are Xanax, a tranquilizer, and Halcion, a sedative.@@@@1@11@@oe@2-2-2013
22341037@unknown@formal@none@1@S@Sales of both drugs have been hurt by new state laws restricting the prescriptions of certain tranquilizing medicines and adverse publicity about the excessive use of the drugs.@@@@1@28@@oe@2-2-2013
22341038@unknown@formal@none@1@S@Also, the company's hair-growing drug, Rogaine, is selling well -- at about $125 million for the year, but the company's profit from the drug has been reduced by Upjohn's expensive print and television campaigns for advertising, analysts said.@@@@1@38@@oe@2-2-2013
22341039@unknown@formal@none@1@S@In Kalamazoo, Mich., Upjohn declined comment.@@@@1@6@@oe@2-2-2013
22342001@unknown@formal@none@1@S@Amid a crowd of crashing stocks, Relational Technology Inc.'s stock fell particularly hard Friday, dropping 23% because its problems were compounded by disclosure of an unexpected loss for its fiscal first quarter.@@@@1@32@@oe@2-2-2013
22342002@unknown@formal@none@1@S@The database software company said it expects a $2 million net loss for the fiscal first quarter ended Sept. 30.@@@@1@20@@oe@2-2-2013
22342003@unknown@formal@none@1@S@It said analysts had been expecting a small profit for the period.@@@@1@12@@oe@2-2-2013
22342004@unknown@formal@none@1@S@Revenue is expected to be "up modestly" from the $26.5 million reported a year ago.@@@@1@15@@oe@2-2-2013
22342005@unknown@formal@none@1@S@Relational Technology reported net income of $1.5 million, or 12 cents a share, in the year-earlier period.@@@@1@17@@oe@2-2-2013
22342006@unknown@formal@none@1@S@"While our international operations showed strong growth, our domestic business was substantially below expectations," said Paul Newton, president and chief executive officer.@@@@1@22@@oe@2-2-2013
22342007@unknown@formal@none@1@S@A spokesman said the company's first quarter is historically soft, and computer companies in general are experiencing slower sales.@@@@1@19@@oe@2-2-2013
22342008@unknown@formal@none@1@S@Mr. Newton said he accepted the resignation of Thomas Wilson, vice president of corporate sales, and that his marketing responsibilities have been reassigned.@@@@1@23@@oe@2-2-2013
22342009@unknown@formal@none@1@S@The company said Mr. Wilson's resignation wasn't related to the sales shortfall.@@@@1@12@@oe@2-2-2013
22342010@unknown@formal@none@1@S@Relational Technology went public in May 1988 at $14 a share.@@@@1@11@@oe@2-2-2013
22342011@unknown@formal@none@1@S@It fell $1.875 a share Friday, to $6.25, a new low, in over-the-counter trading.@@@@1@14@@oe@2-2-2013
22342012@unknown@formal@none@1@S@Its high for the past year was $16.375 a share.@@@@1@10@@oe@2-2-2013
22342013@unknown@formal@none@1@S@In the previous quarter, the company earned $4.5 million, or 37 cents a share, on sales of $47.2 million.@@@@1@19@@oe@2-2-2013
22343001@unknown@formal@none@1@S@The Bronx has a wonderful botanical garden, a great zoo, its own charming Little Italy (on Arthur Avenue) and, of course, the Yankees.@@@@1@23@@oe@2-2-2013
22343002@unknown@formal@none@1@S@However, most people, having been subjected to news footage of the devastated South Bronx, look at the borough the way Tom Wolfe's Sherman McCoy did in "Bonfire of the Vanities" -- as a wrong turn into hell.@@@@1@37@@oe@2-2-2013
22343003@unknown@formal@none@1@S@But Laura Cunningham's Bronx, her childhood Bronx of the '50s, is something else altogether.@@@@1@14@@oe@2-2-2013
22343004@unknown@formal@none@1@S@In a lovely, novelistic memoir, "Sleeping Arrangements" (Knopf, 195 pages, $18.95), she remembers an exotic playground, peopled mainly by Jewish eccentrics and the occasional Catholic (real oddballs like her sexpot friend, the hell-kitten Diana, age five).@@@@1@36@@oe@2-2-2013
22343005@unknown@formal@none@1@S@Ms. Cunningham, a novelist and playwright, has a vivid and dramatically outsized sense of recall.@@@@1@15@@oe@2-2-2013
22343006@unknown@formal@none@1@S@She transforms her "Bronx of the emotions, a place where the flats of mediocrity are only relieved by steep descents into hysteria" into the "Babylonian Bronx," a world simmering with sex and death and intrigue.@@@@1@35@@oe@2-2-2013
22343007@unknown@formal@none@1@S@In the Babylonian Bronx, Jewish working-class people lived in drab, Soviet-style buildings "glamorized" with names like AnaMor Towers (after owners Anna and Morris Snezak), whose lobbies and hallways were decorated with murals of ancient Syrians and Greeks, friezes of Pompeii.@@@@1@40@@oe@2-2-2013
22343008@unknown@formal@none@1@S@For Ms. Cunningham the architectural discombobulation matched the discrepancy she felt living in the AnaMor Towers as a little girl: ". . . outwardly ordinary, inwardly ornate, owing all inspiration to heathen cultures."@@@@1@33@@oe@2-2-2013
22343009@unknown@formal@none@1@S@Sharp-witted and funny but never mean, she's a memorialist a bit like Truman Capote, if he'd been Jewish and female and less bitchy.@@@@1@23@@oe@2-2-2013
22343010@unknown@formal@none@1@S@Little Lily, as Ms. Cunningham calls herself in the book, really wasn't ordinary.@@@@1@13@@oe@2-2-2013
22343011@unknown@formal@none@1@S@She was raised, for the first eight years, by her mother, Rosie, whom she remembers as a loving liar, who realigned history to explain why Lily's father didn't live with them.@@@@1@31@@oe@2-2-2013
22343012@unknown@formal@none@1@S@Rosie reinvented this man, who may or may not have known about his child, as a war hero for Lily's benefit.@@@@1@21@@oe@2-2-2013
22343013@unknown@formal@none@1@S@Rosie died young and Lily has remembered her as a romantic figure, who didn't interfere much with her child's education on the streets.@@@@1@23@@oe@2-2-2013
22343014@unknown@formal@none@1@S@The games Bronx children played (holding kids down and stripping them, for example) seem tame by today's crack standards, but Ms. Cunningham makes it all sound like a great adventure.@@@@1@30@@oe@2-2-2013
22343015@unknown@formal@none@1@S@"Without official knowledge of sex or death, we flirted with both," she writes.@@@@1@13@@oe@2-2-2013
22343016@unknown@formal@none@1@S@She analyzed families by their sleeping arrangements.@@@@1@7@@oe@2-2-2013
22343017@unknown@formal@none@1@S@Her friend Susan, whose parents kept reminding her she was unwanted, slept on a narrow bed wedged into her parents' bedroom, as though she were a temporary visitor.@@@@1@28@@oe@2-2-2013
22343018@unknown@formal@none@1@S@Her friend Diana's father was a professional thief; they didn't seem to have any bedrooms at all.@@@@1@17@@oe@2-2-2013
22343019@unknown@formal@none@1@S@Maybe Lily became so obsessed with where people slept and how because her own arrangements kept shifting.@@@@1@17@@oe@2-2-2013
22343020@unknown@formal@none@1@S@When Rosie died, her uncles moved in -- and let her make the sleeping and other household arrangements.@@@@1@18@@oe@2-2-2013
22343021@unknown@formal@none@1@S@They painted the apartment orange, pink and white, according to her instructions.@@@@1@12@@oe@2-2-2013
22343022@unknown@formal@none@1@S@With loving detail she recalls her Uncle Gabe, an Orthodox Jew and song lyricist (who rhymed river with liver in a love song); and Uncle Len, a mysterious part-time investigator who looked like Lincoln and carried a change of clothing in a Manila envelope, like an "undercover President on a good-will mission."@@@@1@52@@oe@2-2-2013
22343023@unknown@formal@none@1@S@They came by their strangeness honestly.@@@@1@6@@oe@2-2-2013
22343024@unknown@formal@none@1@S@Lily's grandmother, no cookie baker, excised the heads of disliked relatives from the family album, and lugged around her perennial work-in-progress, "Philosophy for Women."@@@@1@24@@oe@2-2-2013
22343025@unknown@formal@none@1@S@The book loses some momentum toward the end, when Lily becomes more preoccupied with dating boys and less with her delightfully weird family.@@@@1@23@@oe@2-2-2013
22343026@unknown@formal@none@1@S@For the most part, though, there's much pleasure in her saucy, poignant probe into the mysteries of the Babylonian Bronx.@@@@1@20@@oe@2-2-2013
22343027@unknown@formal@none@1@S@The Bronx also figures in Bruce Jay Friedman's latest novel, which flashes back to the New York of the '50s.@@@@1@20@@oe@2-2-2013
22343028@unknown@formal@none@1@S@But both the past and present worlds of "The Current Climate" (Atlantic Monthly Press, 200 pages, $18.95) feel cramped and static.@@@@1@21@@oe@2-2-2013
22343029@unknown@formal@none@1@S@For his sixth novel, Mr. Friedman tried to resuscitate the protagonist of his 1972 work, "About Harry Towns."@@@@1@18@@oe@2-2-2013
22343030@unknown@formal@none@1@S@Harry is now a 57-year-old writer, whose continuing flirtation with drugs and marginal types in Hollywood and New York seems quaintly out-of-synch.@@@@1@22@@oe@2-2-2013
22343031@unknown@formal@none@1@S@Harry fondly remembers the "old" days of the early '70s, when people like his friend Travis would take a psychiatrist on a date to analyze what Travis was doing wrong.@@@@1@30@@oe@2-2-2013
22343032@unknown@formal@none@1@S@"An L.A. solution," explains Mr. Friedman.@@@@1@6@@oe@2-2-2013
22343033@unknown@formal@none@1@S@Line by line Mr. Friedman's weary cynicism can be amusing, especially when he's riffing on the Hollywood social scheme -- the way people size each other up, immediately canceling the desperate ones who merely almost made it.@@@@1@37@@oe@2-2-2013
22343034@unknown@formal@none@1@S@Harry has avoided all that by living in a Long Island suburb with his wife, who's so addicted to soap operas and mystery novels she barely seems to notice when her husband disappears for drug-seeking forays into Manhattan.@@@@1@38@@oe@2-2-2013
22343035@unknown@formal@none@1@S@But it doesn't take too many lines to figure Harry out.@@@@1@11@@oe@2-2-2013
22343036@unknown@formal@none@1@S@He's a bore.@@@@1@3@@oe@2-2-2013
22344001@unknown@formal@none@1@S@Gulf Resources & Chemical Corp. said it agreed to pay $1.5 million as part of an accord with the Environmental Protection Agency regarding an environmental cleanup of a defunct smelter the company formerly operated in Idaho.@@@@1@36@@oe@2-2-2013
22344002@unknown@formal@none@1@S@In 1984 the EPA notified Gulf Resources, which was a part-owner of the smelter, that it was potentially liable for sharing cleanup costs at the site under the federal Superfund program.@@@@1@31@@oe@2-2-2013
22344003@unknown@formal@none@1@S@The 21-square-mile area is contaminated with lead, zinc and other metals.@@@@1@11@@oe@2-2-2013
22344004@unknown@formal@none@1@S@Gulf Resources earlier this year proposed a reorganization plan that would make it a unit of a Bermuda concern, potentially exempting it from liability for the smelter's cleanup costs.@@@@1@29@@oe@2-2-2013
22344005@unknown@formal@none@1@S@The company said that as part of its agreement with the EPA, it "made certain voluntary undertakings with respect to intercorporate transactions entered into after the reorganization."@@@@1@27@@oe@2-2-2013
22344006@unknown@formal@none@1@S@The company, which issued a statement on the agreement late Friday, said that $1 million of the payment was previously provided for in its financial statements and that $500,000 will be recognized in its 1989 third-quarter statement.@@@@1@37@@oe@2-2-2013
22344007@unknown@formal@none@1@S@The agreement and consent decree are subject to court approval, the company said.@@@@1@13@@oe@2-2-2013
22344008@unknown@formal@none@1@S@Gulf Resources added that it "will seek to recover equitable contribution from others for both the amount of the settlement and any other liabilities it may incur under the Superfund law."@@@@1@31@@oe@2-2-2013
22344009@unknown@formal@none@1@S@Under the agreement, Gulf must give the U.S. government 45 days' advance written notice before issuing any dividends on common stock.@@@@1@21@@oe@2-2-2013
22344010@unknown@formal@none@1@S@The company's net worth cannot fall below $185 million after the dividends are issued.@@@@1@14@@oe@2-2-2013
22344011@unknown@formal@none@1@S@"The terms of that agreement only become effective the date of Gulf's reorganization, which we anticipate will occur sometime in early 1990," said Lawrence R. Mehl, Gulf's general counsel.@@@@1@29@@oe@2-2-2013
22344012@unknown@formal@none@1@S@In addition, Gulf must give the government 20 days' advance written notice of any loans exceeding $50 million that are made to the Bermuda-based holding company.@@@@1@26@@oe@2-2-2013
22344013@unknown@formal@none@1@S@Gulf's net worth after those transaction must be at least $150 million.@@@@1@12@@oe@2-2-2013
22344014@unknown@formal@none@1@S@Separately, the company said it expects to hold a special meeting for shareholders in early 1990 to vote on its proposed reorganization.@@@@1@22@@oe@2-2-2013
22345001@unknown@formal@none@1@S@Many of the nation's highest-ranking executives saluted Friday's market plunge as an overdue comeuppance for speculators and takeover players.@@@@1@19@@oe@2-2-2013
22345002@unknown@formal@none@1@S@Assuming that the market doesn't head into a bottomless free fall, some executives think Friday's action could prove a harbinger of good news -- as a sign that the leveraged buy-out and takeover frenzy of recent years may be abating.@@@@1@40@@oe@2-2-2013
22345003@unknown@formal@none@1@S@"This is a reaction to artificial LBO valuations, rather than to any fundamentals," said John Young, chairman of Hewlett-Packard Co., whose shares dropped $3.125 to $48.125.@@@@1@26@@oe@2-2-2013
22345004@unknown@formal@none@1@S@"If we get rid of a lot of that nonsense, it will be a big plus."@@@@1@16@@oe@2-2-2013
22345005@unknown@formal@none@1@S@A few of the executives here for the fall meeting of the Business Council, a group that meets to discuss national issues, were only too happy to personalize their criticism.@@@@1@30@@oe@2-2-2013
22345006@unknown@formal@none@1@S@"People wish the government would do something about leveraged buy-outs, do something about takeovers, do something about Donald Trump," said Rand Araskog, chairman of ITT Corp., whose stock dropped $3.375.@@@@1@30@@oe@2-2-2013
22345007@unknown@formal@none@1@S@"Where's the leadership?@@@@1@3@@oe@2-2-2013
22345008@unknown@formal@none@1@S@Where's the guy who can say: `Enough is enough'"?@@@@1@9@@oe@2-2-2013
22345009@unknown@formal@none@1@S@The executives were remarkably unperturbed by the plunge even though it lopped billions of dollars off the value of their companies -- and millions off their personal fortunes.@@@@1@28@@oe@2-2-2013
22345010@unknown@formal@none@1@S@"I'm not going to worry about one day's decline," said Kenneth Olsen, Digital Equipment Corp. president, who was leisurely strolling through the bright orange and yellow leaves of the mountains here after his company's shares plunged $5.75 to close at $86.50.@@@@1@41@@oe@2-2-2013
22345011@unknown@formal@none@1@S@"I didn't bother calling anybody; I didn't even turn on TV."@@@@1@11@@oe@2-2-2013
22345012@unknown@formal@none@1@S@"There hasn't been any fundamental change in the economy," added John Smale, whose Procter & Gamble Co. took an $8.75 slide to close at $120.75.@@@@1@25@@oe@2-2-2013
22345013@unknown@formal@none@1@S@"The fact that this happened two years ago and there was a recovery gives people some comfort that this won't be a problem."@@@@1@23@@oe@2-2-2013
22345014@unknown@formal@none@1@S@Of course, established corporate managements often tend to applaud the setbacks of stock speculators and takeover artists.@@@@1@17@@oe@2-2-2013
22345015@unknown@formal@none@1@S@Indeed, one chief executive who was downright delighted by Friday's events was Robert Crandall, chairman of AMR Corp., the parent of American Airlines and the target of a takeover offer by Mr. Trump.@@@@1@33@@oe@2-2-2013
22345016@unknown@formal@none@1@S@Asked whether Friday's action could help him avoid being Trumped by the New York real estate magnate, Mr. Crandall smiled broadly and said: "No comment."@@@@1@25@@oe@2-2-2013
22345017@unknown@formal@none@1@S@On Friday morning, before the market's sell-off, the business leaders issued a report predicting the economy would grow at roughly an inflation-adjusted 2% annual rate, through next year, then accelerate anew in 1991.@@@@1@33@@oe@2-2-2013
22345018@unknown@formal@none@1@S@Of the 19 economists who worked on the Business Council forecast, only two projected periods of decline in the nation's output over the next two years, and in "both instances the declines are too modest to warrant the phrase recession," said Lewis Preston, chairman of J.P. Morgan & Co. and vice chairman of the Business Council.@@@@1@56@@oe@2-2-2013
22346001@unknown@formal@none@1@S@The real estate slump that's pushing down the price of New York office space and housing is also affecting the city's retail real estate market.@@@@1@25@@oe@2-2-2013
22346002@unknown@formal@none@1@S@In Manhattan, once-desirable store sites sit vacant and newly constructed space has been slow to fill.@@@@1@16@@oe@2-2-2013
22346003@unknown@formal@none@1@S@Retail real estate brokers say tenants are reluctant to sign leases because of uncertainty about the local economy, turmoil in their own industries and a belief that rents have not yet hit bottom.@@@@1@33@@oe@2-2-2013
22346004@unknown@formal@none@1@S@"There is an unbelievable amount of space available," says Faith Consolo, senior vice president at Garrick-Aug Associates Store Leasing Inc.@@@@1@20@@oe@2-2-2013
22346005@unknown@formal@none@1@S@There are about 2,000 stores for rent, up from a more typical range of 1,200 to 1,500.@@@@1@17@@oe@2-2-2013
22346006@unknown@formal@none@1@S@"This further confuses retailers," she says.@@@@1@6@@oe@2-2-2013
22346007@unknown@formal@none@1@S@"They wonder should they sign a lease if prices are still coming down?@@@@1@13@@oe@2-2-2013
22346008@unknown@formal@none@1@S@Is this the wrong time to open a store?@@@@1@9@@oe@2-2-2013
22346009@unknown@formal@none@1@S@Who is going to be in the space next door?"@@@@1@10@@oe@2-2-2013
22346010@unknown@formal@none@1@S@In addition, Ms. Consolo says, tenants usually can negotiate to pay rents that are about one-quarter lower than landlords' initial asking price.@@@@1@22@@oe@2-2-2013
22346011@unknown@formal@none@1@S@A handful of hot retail locations, such as the 57th Street and Madison and Fifth Avenue areas, have been able to sustain what many see as astronomical rents.@@@@1@28@@oe@2-2-2013
22346012@unknown@formal@none@1@S@And, in some neighborhoods, rents have merely hit a plateau.@@@@1@10@@oe@2-2-2013
22346013@unknown@formal@none@1@S@But on average, Manhattan retail rents have dropped 10% to 15% in the past six months alone, experts say.@@@@1@19@@oe@2-2-2013
22346014@unknown@formal@none@1@S@That follows a more subtle decline in the prior six months, after Manhattan rents had run up rapidly since 1986.@@@@1@20@@oe@2-2-2013
22346015@unknown@formal@none@1@S@The same factors limiting demand for office space have affected retailing.@@@@1@11@@oe@2-2-2013
22346016@unknown@formal@none@1@S@"As businesses contract or depart, the number of employees who might use retail services shrinks," says Edward A. Friedman, senior vice president of Helmsley Spear Inc.@@@@1@26@@oe@2-2-2013
22346017@unknown@formal@none@1@S@He says financial problems plaguing electronics, fur and furniture companies -- key categories in the local retail economy -- have further deflated the market.@@@@1@24@@oe@2-2-2013
22346018@unknown@formal@none@1@S@Hardest hit are what he calls "secondary" sites that primarily serve neighborhood residents.@@@@1@13@@oe@2-2-2013
22346019@unknown@formal@none@1@S@In these locations, Mr. Friedman says, "Retailers are increasingly cautious about expanding and rents have remained steady or in some cases have declined."@@@@1@23@@oe@2-2-2013
22346020@unknown@formal@none@1@S@Weakness in the restaurant industry, which is leaving retail space vacant, exacerbates the problem for landlords.@@@@1@16@@oe@2-2-2013
22346021@unknown@formal@none@1@S@It is also no comfort to landlords and small New York retailers when the future of larger department stores, which anchor retail neighborhoods, are in doubt.@@@@1@26@@oe@2-2-2013
22346022@unknown@formal@none@1@S@Hooker Corp., parent of Bonwit Teller and B. Altman's, is mired in bankruptcy proceedings and Bloomingdale's is for sale by its owner, Campeau Corp.@@@@1@24@@oe@2-2-2013
22346023@unknown@formal@none@1@S@The trend toward lower rents may seem surprising given that some communities in New York are bemoaning the loss of favorite local businesses to high rents.@@@@1@26@@oe@2-2-2013
22346024@unknown@formal@none@1@S@But, despite the recent softening, for many of these retailers there's still been too big a jump from the rental rates of the late 1970s, when their leases were signed.@@@@1@30@@oe@2-2-2013
22346025@unknown@formal@none@1@S@Certainly, the recent drop in prices doesn't mean Manhattan comes cheap.@@@@1@11@@oe@2-2-2013
22346026@unknown@formal@none@1@S@New York retail rents still run well above the going rate in other U.S. cities.@@@@1@15@@oe@2-2-2013
22346027@unknown@formal@none@1@S@Madison and Fifth Avenues and East 57th Street can command rents of up to $500 a square foot, and $250 is not uncommon.@@@@1@23@@oe@2-2-2013
22346028@unknown@formal@none@1@S@The thriving 34th Street area offers rents of about $100 a square foot, as do up-and-coming locations along lower Fifth Avenue.@@@@1@21@@oe@2-2-2013
22346029@unknown@formal@none@1@S@By contrast, rentals in the best retail locations in Boston, San Francisco and Chicago rarely top $100 a square foot.@@@@1@20@@oe@2-2-2013
22346030@unknown@formal@none@1@S@And rents on Beverly Hills' Rodeo Drive generally don't exceed about $125 a square foot.@@@@1@15@@oe@2-2-2013
22346031@unknown@formal@none@1@S@The New York Stock Exchange said two securities will begin trading this week.@@@@1@13@@oe@2-2-2013
22346032@unknown@formal@none@1@S@Precision Castparts Corp., Portland, Ore., will begin trading with the symbol PCP.@@@@1@12@@oe@2-2-2013
22346033@unknown@formal@none@1@S@It makes investment castings and has traded over-the-counter.@@@@1@8@@oe@2-2-2013
22346034@unknown@formal@none@1@S@Royal Bank of Scotland Group PLC, an Edinburgh, Scotland, financial services company, will list American depositary shares, representing preferred shares, with the symbol RBSPr.@@@@1@24@@oe@2-2-2013
22346035@unknown@formal@none@1@S@It will continue to trade on the International Stock Exchange, London.@@@@1@11@@oe@2-2-2013
22346036@unknown@formal@none@1@S@The American Stock Exchange listed shares of two companies.@@@@1@9@@oe@2-2-2013
22346037@unknown@formal@none@1@S@AIM Telephones Inc., a Parsippany, N.J., telecommunications equipment supply company, started trading with the symbol AIM.@@@@1@16@@oe@2-2-2013
22346038@unknown@formal@none@1@S@It had traded over-the-counter.@@@@1@4@@oe@2-2-2013
22346039@unknown@formal@none@1@S@Columbia Laboratories Inc., Miami, began trading with the symbol COB.@@@@1@10@@oe@2-2-2013
22346040@unknown@formal@none@1@S@The pharmaceuticals maker had traded over-the-counter.@@@@1@6@@oe@2-2-2013
22346041@unknown@formal@none@1@S@The National Market System of the Nasdaq over-the-counter market listed shares of one company.@@@@1@14@@oe@2-2-2013
22346042@unknown@formal@none@1@S@Employee Benefit Plans Inc., a Minneapolis health-care services company, was listed with the symbol EBPI.@@@@1@15@@oe@2-2-2013
22347001@unknown@formal@none@1@S@When Justice William Brennan marks the start of his 34th year on the Supreme Court today, the occasion will differ sharply from previous anniversaries of his tenure.@@@@1@27@@oe@2-2-2013
22347002@unknown@formal@none@1@S@For the first time, the 83-year-old justice finds his influence almost exclusively in dissent, rather than as a force in the high court's majority.@@@@1@24@@oe@2-2-2013
22347003@unknown@formal@none@1@S@This role reversal holds true, as well, for his three liberal and moderate allies, Justices Thurgood Marshall, Harry Blackmun and John Stevens.@@@@1@22@@oe@2-2-2013
22347004@unknown@formal@none@1@S@But are these four players, three of them in their 80s, ready to assume a different role after 88 years, collectively, of service on the high court?@@@@1@27@@oe@2-2-2013
22347005@unknown@formal@none@1@S@Every indication is that the four are prepared to accept this new role, and the frustrations that go with it, but in different ways.@@@@1@24@@oe@2-2-2013
22347006@unknown@formal@none@1@S@Justices Brennan and Stevens appear philosophical about it; Justices Marshall and Blackmun appear fighting mad.@@@@1@15@@oe@2-2-2013
22347007@unknown@formal@none@1@S@The four justices are no newcomers to dissent, often joining forces in the past decade to criticize the court's conservative drift.@@@@1@21@@oe@2-2-2013
22347008@unknown@formal@none@1@S@But always, in years past, they have bucked the trend and have been able to pick up a fifth vote to eke out a number of major victories in civil rights and liberties cases.@@@@1@34@@oe@2-2-2013
22347009@unknown@formal@none@1@S@Now, however, as the court's new five-member conservative majority continues to solidify, victories for the liberals are rare.@@@@1@18@@oe@2-2-2013
22347010@unknown@formal@none@1@S@The change is most dramatic for Justice Brennan, the last survivor of the mid-1960s liberal majority under Chief Justice Earl Warren.@@@@1@21@@oe@2-2-2013
22347011@unknown@formal@none@1@S@In the seven Supreme Court terms from the fall of 1962 through the spring of 1967, the height of the Warren Court's power, Justice Brennan cast only 25 dissenting votes in 555 cases decided by the court.@@@@1@37@@oe@2-2-2013
22347012@unknown@formal@none@1@S@Last term alone he cast 52 dissenting votes in 133 decisions, with the contentious flag-burning ruling as his only big victory.@@@@1@21@@oe@2-2-2013
22347013@unknown@formal@none@1@S@But Justice Brennan foresaw his new role, strongly defending the importance of dissents in a 1985 speech.@@@@1@17@@oe@2-2-2013
22347014@unknown@formal@none@1@S@"Each time the court revisits an issue, the justices will be forced by a dissent to reconsider the fundamental questions and to rethink the result," he said.@@@@1@27@@oe@2-2-2013
22347015@unknown@formal@none@1@S@Moreover, in recent months he has said that when he was on the winning side in the 1960s, he knew that the tables might turn in the future.@@@@1@28@@oe@2-2-2013
22347016@unknown@formal@none@1@S@He has said that he now knows how Justice John Harlan felt, a reference to the late conservative justice who was the most frequent dissenter from the Warren Court's opinions.@@@@1@30@@oe@2-2-2013
22347017@unknown@formal@none@1@S@Associates of 81-year-old Justice Marshall say he was "depressed" about the court's direction last spring, but is feisty about his role and determined to speak out against the court's cutbacks in civil rights.@@@@1@33@@oe@2-2-2013
22347018@unknown@formal@none@1@S@"We could sweep it under the rug and hide it, but I'm not going to do it," he said in a speech last month.@@@@1@24@@oe@2-2-2013
22347019@unknown@formal@none@1@S@He, like Justice Brennan, considers dissents highly important for the future, a point that hasn't escaped legal scholars.@@@@1@18@@oe@2-2-2013
22347020@unknown@formal@none@1@S@Harvard Law School Professor Laurence Tribe says there is a "generation-skipping" flavor to current dissents.@@@@1@15@@oe@2-2-2013
22347021@unknown@formal@none@1@S@The dissenters in the Warren Court, he says, appeared to be writing for the short-term, suggesting that the court's direction might change soon.@@@@1@23@@oe@2-2-2013
22347022@unknown@formal@none@1@S@"Brennan and Marshall are speaking in their dissents to a more distant future," he says.@@@@1@15@@oe@2-2-2013
22347023@unknown@formal@none@1@S@Justice Blackmun, who will turn 81 next month, also seems feisty about his new role.@@@@1@15@@oe@2-2-2013
22347024@unknown@formal@none@1@S@Associates say he takes some defeats more personally than his colleagues, especially attempts to curtail the right to abortion first recognized in his 1973 opinion, Roe vs. Wade.@@@@1@28@@oe@2-2-2013
22347025@unknown@formal@none@1@S@Friends and associates who saw Justice Blackmun during the summer said he was no more discouraged about the court than in recent years.@@@@1@23@@oe@2-2-2013
22347026@unknown@formal@none@1@S@And his outlook improved after successful cataract surgery in August.@@@@1@10@@oe@2-2-2013
22347027@unknown@formal@none@1@S@But his level of frustration showed in a recent, impassioned speech to a group of hundreds of lawyers in Chicago.@@@@1@20@@oe@2-2-2013
22347028@unknown@formal@none@1@S@He concluded his remarks by quoting, emotionally and at some length, according to those present, the late Martin Luther King's famous "I Have a Dream" speech from the 1963 March on Washington.@@@@1@32@@oe@2-2-2013
22347029@unknown@formal@none@1@S@Justice Stevens, 69, is probably the most philosophical of the dissenters about his role, in part because he may be the least liberal of the four, but also because he enjoys the intellectual challenge of arguing with the majority more than the others.@@@@1@43@@oe@2-2-2013
22347030@unknown@formal@none@1@S@If the role these four dissenters are assuming is a familiar one in modern Supreme Court history, it also differs in an important way from recent history, court watchers say.@@@@1@30@@oe@2-2-2013
22347031@unknown@formal@none@1@S@"The dissenters of the Warren Court were often defending a legal legacy that they inherited," says Prof. A.E. Dick Howard of the University of Virginia Law School, "but the dissenters today are defending a legacy that they created.@@@@1@38@@oe@2-2-2013
22348001@unknown@formal@none@1@S@The government sold the deposits of four savings-and-loan institutions, in its first wave of sales of big, sick thrifts, but low bids prevented the sale of a fifth.@@@@1@28@@oe@2-2-2013
22348002@unknown@formal@none@1@S@The four S&Ls were sold to large banks, as was the case with most of the 28 previous transactions initiated by the Resolution Trust Corp. since it was created in the S&L bailout legislation two months ago.@@@@1@37@@oe@2-2-2013
22348003@unknown@formal@none@1@S@Two of the four big thrifts were sold to NCNB Corp., Charlotte, N.C., which has aggressively expanded its markets, particularly in Texas and Florida.@@@@1@24@@oe@2-2-2013
22348004@unknown@formal@none@1@S@A Canadian bank bought another thrift, in the first RTC transaction with a foreign bank.@@@@1@15@@oe@2-2-2013
22348005@unknown@formal@none@1@S@Under these deals, the RTC sells just the deposits and the healthy assets.@@@@1@13@@oe@2-2-2013
22348006@unknown@formal@none@1@S@These "clean-bank" transactions leave the bulk of bad assets, mostly real estate, with the government, to be sold later.@@@@1@19@@oe@2-2-2013
22348007@unknown@formal@none@1@S@In these four, for instance, the RTC is stuck with $4.51 billion in bad assets.@@@@1@15@@oe@2-2-2013
22348008@unknown@formal@none@1@S@Acquirers paid premiums ranging from 1.5% to 3.7% for the deposits and branch systems, roughly in line with what analysts were expecting.@@@@1@22@@oe@2-2-2013
22348009@unknown@formal@none@1@S@The buyers will also be locked into deposit rates for just two weeks, as has been the case with previous deals.@@@@1@21@@oe@2-2-2013
22348010@unknown@formal@none@1@S@After that, the buyers may repudiate the rates paid by the former thrifts.@@@@1@13@@oe@2-2-2013
22348011@unknown@formal@none@1@S@But it's uncertain whether these institutions will take those steps.@@@@1@10@@oe@2-2-2013
22348012@unknown@formal@none@1@S@NCNB, for example, has been one of the highest rate payers in the Texas market, and in Florida, rates are especially sensitive in retirement communities.@@@@1@25@@oe@2-2-2013
22348013@unknown@formal@none@1@S@The RTC had previously targeted five thrifts for quick sales in order to spend cash by certain budgetary deadlines, but the delays illustrate the tough chore facing the agency.@@@@1@29@@oe@2-2-2013
22348014@unknown@formal@none@1@S@"These thrifts are beached whales," said Bert Ely, an industry consultant based in Alexandria, Va.@@@@1@15@@oe@2-2-2013
22348015@unknown@formal@none@1@S@For example, the delay in selling People's Heritage Savings, Salina, Kan., with $1.7 billion in assets, has forced the RTC to consider selling off the thrift branch-by-branch, instead of as a whole institution.@@@@1@33@@oe@2-2-2013
22348016@unknown@formal@none@1@S@NCNB continued its foray into the Florida and Texas markets.@@@@1@10@@oe@2-2-2013
22348017@unknown@formal@none@1@S@NCNB will acquire University Federal Savings Association, Houston, which had assets of $2.8 billion.@@@@1@14@@oe@2-2-2013
22348018@unknown@formal@none@1@S@NCNB Texas National Bank will pay the RTC a premium of $129 million for $3.5 billion in deposits.@@@@1@18@@oe@2-2-2013
22348019@unknown@formal@none@1@S@As a measure of the depths to which the Texas real estate market has sunk, the RTC will pay $3.8 billion to NCNB to take $750 million of bad assets.@@@@1@30@@oe@2-2-2013
22348020@unknown@formal@none@1@S@NCNB also acquired Freedom Savings & Loan Association, Tampa, Fla., which had total assets of $900 million.@@@@1@17@@oe@2-2-2013
22348021@unknown@formal@none@1@S@NCNB will pay the RTC a premium of $40.4 million for $1.1 billion in deposits.@@@@1@15@@oe@2-2-2013
22348022@unknown@formal@none@1@S@NCNB will also acquire $266 million of Freedom's assets from the RTC, which will require $875 million in assistance.@@@@1@19@@oe@2-2-2013