22384006@unknown@formal@none@1@S@Politicians tried to finger each other for the blame, although many analysts doubt that Washington was singly responsible for Wall Street's woes.@@@@1@22@@oe@2-2-2013
22384007@unknown@formal@none@1@S@But Mr. Butcher's comments make one thing clear: Some on Wall Street wonder if anyone is in charge of economic policy.@@@@1@21@@oe@2-2-2013
22384008@unknown@formal@none@1@S@Consider this:@@@@1@2@@oe@2-2-2013
22384009@unknown@formal@none@1@S@-- By 11:59 p.m. tonight, President Bush must order $16 billion of automatic, across-the-board cuts in government spending to comply with the Gramm-Rudman budget law.@@@@1@25@@oe@2-2-2013
22384010@unknown@formal@none@1@S@The cuts are necessary because Congress and the administration have failed to reach agreement on a deficit-cutting bill.@@@@1@18@@oe@2-2-2013
22384011@unknown@formal@none@1@S@"We simply don't have strong leadership to try to reduce the deficit and make tough choices," House Budget Committee Chairman Leon Panetta (D., Calif.) said yesterday on NBC News's "Meet the Press."@@@@1@32@@oe@2-2-2013
22384012@unknown@formal@none@1@S@-- For the last two weeks, the Bush administration and the Federal Reserve have been engaged in a semi-public battle over international economic policy.@@@@1@24@@oe@2-2-2013
22384013@unknown@formal@none@1@S@The administration has been trying to push the dollar lower; the Fed has been resisting.@@@@1@15@@oe@2-2-2013
22384014@unknown@formal@none@1@S@"One of the things that continues to worry me is this monetary warfare between the Treasury Department and the Federal Reserve Board," said Lawrence Kudlow, a Bear, Stearns & Co. economist, on ABC's "This Week."@@@@1@35@@oe@2-2-2013
22384015@unknown@formal@none@1@S@-- The administration has sent out confusing signals about its response to a recent spate of airline takeovers.@@@@1@18@@oe@2-2-2013
22384016@unknown@formal@none@1@S@Last month, Transportation Secretary Sam Skinner forced Northwest Airlines to reduce a stake held by KLM Royal Dutch Airlines.@@@@1@19@@oe@2-2-2013
22384017@unknown@formal@none@1@S@But he has since run into opposition from the Treasury and the White House over that decision.@@@@1@17@@oe@2-2-2013
22384018@unknown@formal@none@1@S@And he has kept mum on how his decision might affect a bid for United Airlines, which includes a big stake by British Airways PLC.@@@@1@25@@oe@2-2-2013
22384019@unknown@formal@none@1@S@Some analysts say uncertainty about Washington's anti-takeover policy was one reason that financing for the United Airlines takeover fell through -- the event that triggered the market drop.@@@@1@28@@oe@2-2-2013
22384020@unknown@formal@none@1@S@In many ways, the backdrop to Friday's stock decline is eerily similar to that of October 1987's 508-point crash.@@@@1@19@@oe@2-2-2013
22384021@unknown@formal@none@1@S@Then, as now, the budget debate was behind schedule and automatic spending cuts were within days of taking hold.@@@@1@19@@oe@2-2-2013
22384022@unknown@formal@none@1@S@The Treasury was locked in a battle over international economic policy, although at that time it was with West German officials rather than the Federal Reserve.@@@@1@26@@oe@2-2-2013
22384023@unknown@formal@none@1@S@And concern about official actions aimed at takeovers -- then by the tax-writing House Ways and Means Committee rather than the Transportation Department -- were making markets nervous.@@@@1@28@@oe@2-2-2013
22384024@unknown@formal@none@1@S@The 1987 crash brought the Reagan administration and Democratic lawmakers to the table for the first budget summit, resulting in a two-year plan to reduce the deficit by more than $76 billion -- even though the deficit actually rose by nearly $12 billion during that period.@@@@1@46@@oe@2-2-2013
22384025@unknown@formal@none@1@S@But, barring further drops in the market this week, a similar outcome doesn't seem likely this year.@@@@1@17@@oe@2-2-2013
22384026@unknown@formal@none@1@S@Lawmakers and administration officials agree that Friday's drop, by itself, isn't enough to force both sides back to the table to try to reach a deficit-reduction agreement that would be more serious and more far-reaching than last spring's gimmick-ridden plan, which still isn't fully implemented.@@@@1@45@@oe@2-2-2013
22384027@unknown@formal@none@1@S@One of the biggest reasons that new talks aren't likely to come about is that, as everyone learned in 1987, the economy and the market can survive a one-day 508-point tumble.@@@@1@31@@oe@2-2-2013
22384028@unknown@formal@none@1@S@"Everybody thought we were looking at a repetition of 1929, that we were looking at a recession," Rep. Panetta said yesterday in an interview.@@@@1@24@@oe@2-2-2013
22384029@unknown@formal@none@1@S@"That did not happen.@@@@1@4@@oe@2-2-2013
22384030@unknown@formal@none@1@S@They learned they could survive it without much problem."@@@@1@9@@oe@2-2-2013
22384031@unknown@formal@none@1@S@But administration officials privately agree with Mr. Panetta, who said a precipitous drop this week "is going to force the president and Congress to take a much harder look at fiscal policy."@@@@1@32@@oe@2-2-2013
22384032@unknown@formal@none@1@S@In that case, there will be plenty of blame to go around.@@@@1@12@@oe@2-2-2013
22384033@unknown@formal@none@1@S@"There is an underlying concern on the part of the American people -- and there should be-that the administration has not gone far enough in cutting this deficit and that Congress has been unwilling to cut what the administration asked us to cut," said Senate Finance Committee Chairman Lloyd Bentsen (D., Texas).@@@@1@52@@oe@2-2-2013
22384034@unknown@formal@none@1@S@Nevertheless, it clearly will take more than Friday's 190-point decline to overcome the bitter feelings that have developed between lawmakers and White House Budget Director Richard Darman over the capital-gains fight.@@@@1@31@@oe@2-2-2013
22384035@unknown@formal@none@1@S@Hill Democrats are particularly angry over Mr. Bush's claim that the capital-gains cut was part of April's budget accord and his insistence on combining it with the deficit-reduction legislation.@@@@1@29@@oe@2-2-2013
22384036@unknown@formal@none@1@S@"There is no prospect of any so-called grand compromise or deal next year because the administration simply didn't live up to this year's deal," Senate Majority Leader George Mitchell (D., Maine) said yesterday on CBS News's "Face the Nation."@@@@1@39@@oe@2-2-2013
22384037@unknown@formal@none@1@S@During last week's maneuverings on the deficit-cutting bill and the capital-gains issue, there were signs that Senate Republicans and the administration were at odds.@@@@1@24@@oe@2-2-2013
22384038@unknown@formal@none@1@S@At the very moment that Senate Republicans were negotiating a deal to exclude capital gains from the deficit-reduction legislation, White House spokesman Marlin Fitzwater told reporters that it was the president's policy to include it.@@@@1@35@@oe@2-2-2013
22384039@unknown@formal@none@1@S@When an agreement was reached to strip capital gains from the legislation, Oregon Sen. Bob Packwood, the ranking GOP member of the tax-writing Senate Finance Committee, hailed it.@@@@1@28@@oe@2-2-2013
22384040@unknown@formal@none@1@S@Asked if the administration agreed, he curtly replied: "The adminstration will have to speak for itself."@@@@1@16@@oe@2-2-2013
22384041@unknown@formal@none@1@S@Friday's market tumble could spur action on reconciling the House and Senate versions of the deficit-reduction measure, a process that isn't expected to begin until tomorrow at the soonest.@@@@1@29@@oe@2-2-2013
22384042@unknown@formal@none@1@S@Senate Republicans expressed the hope that the House would follow the lead of the Senate, which on Friday agreed to drop a variety of spending measures and tax breaks that would have increased the fiscal 1990 deficit.@@@@1@37@@oe@2-2-2013
22384043@unknown@formal@none@1@S@"The market needs a strong signal that we're serious about deficit reduction, and the best way to do that is for the House of Representatives to strip their bill" of similar provisions, Sen. Warren Rudman (R., N.H.). said yesterday.@@@@1@39@@oe@2-2-2013
22384044@unknown@formal@none@1@S@The White House Office of Management and Budget, whose calculations determine whether the Gramm-Rudman targets are met, estimated that the House-passed deficit-reduction measure would cut the fiscal 1990 shortfall by $6.2 billion, almost half of the Congressional Budget Office's estimate of $11.0 billion.@@@@1@43@@oe@2-2-2013
22384045@unknown@formal@none@1@S@Rep. Panetta said that OMB's figure would still be enough to avoid permanent across-the-board cuts, but added: "We're getting very close to the margins here."@@@@1@25@@oe@2-2-2013
22384046@unknown@formal@none@1@S@No one in Washington was willing to take the blame for provoking Friday's drop in the stock market.@@@@1@18@@oe@2-2-2013
22384047@unknown@formal@none@1@S@But some players were quick to seize the moment.@@@@1@9@@oe@2-2-2013
22384048@unknown@formal@none@1@S@Before the sun had set on Friday, Richard Rahn, the supply-side chief economist of the U.S. Chamber of Commerce, issued a statement attributing the drop in stock prices to the Senate decision to postpone action on capital gains.@@@@1@38@@oe@2-2-2013
22384049@unknown@formal@none@1@S@"Investors, who had been holding assets in anticipation of a more favorable time to sell, were spooked," he said.@@@@1@19@@oe@2-2-2013
22384050@unknown@formal@none@1@S@"There have been many preposterous reasons advanced to support a capital-gains tax cut," Sen. Mitchell said during his television appearance, "but I suggest that is perhaps more than any of the others.@@@@1@32@@oe@2-2-2013
22385001@unknown@formal@none@1@S@The following U.S. Treasury, corporate and municipal offerings are tentatively scheduled for sale this week, according to Dow Jones Capital Markets Report:@@@@1@22@@oe@2-2-2013
22385002@unknown@formal@none@1@S@$15.2 billion of three-month and six-month bills.@@@@1@7@@oe@2-2-2013
22385003@unknown@formal@none@1@S@Two-year notes, refinancing about $9.6 billion in maturing debt.@@@@1@9@@oe@2-2-2013
22385004@unknown@formal@none@1@S@$9.75 billion of 52-week bills.@@@@1@5@@oe@2-2-2013
22385005@unknown@formal@none@1@S@Connecticut Light & Power Co. --@@@@1@6@@oe@2-2-2013
22385006@unknown@formal@none@1@S@Three million shares of $25 preferred, via competitive bidding.@@@@1@9@@oe@2-2-2013
22385007@unknown@formal@none@1@S@B&H Crude Carriers Ltd. --@@@@1@5@@oe@2-2-2013
22385008@unknown@formal@none@1@S@Four million common shares, via Salomon Brothers Inc.@@@@1@8@@oe@2-2-2013
22385009@unknown@formal@none@1@S@Baldwin Technology Co. --@@@@1@4@@oe@2-2-2013
22385010@unknown@formal@none@1@S@2.6 million Class A shares, via Smith Barney Harris Upham & Co.@@@@1@12@@oe@2-2-2013
22385011@unknown@formal@none@1@S@Blockbuster Entertainment Corp. --@@@@1@4@@oe@2-2-2013
22385012@unknown@formal@none@1@S@$250 million (face amount) Liquid Yield Option Notes, via Merrill Lynch Capital Markets.@@@@1@13@@oe@2-2-2013
22385013@unknown@formal@none@1@S@Chase Manhattan Corp. --@@@@1@4@@oe@2-2-2013
22385014@unknown@formal@none@1@S@14 million common shares, via Goldman, Sachs & Co.@@@@1@9@@oe@2-2-2013
22385015@unknown@formal@none@1@S@Comcast Corp. --@@@@1@3@@oe@2-2-2013
22385016@unknown@formal@none@1@S@$150 million convertible debentures, via Merrill Lynch.@@@@1@7@@oe@2-2-2013
22385017@unknown@formal@none@1@S@CSS Industries --@@@@1@3@@oe@2-2-2013
22385018@unknown@formal@none@1@S@1.3 million common shares, via Merrill Lynch.@@@@1@7@@oe@2-2-2013
22385019@unknown@formal@none@1@S@Eastern Utilities Associates --@@@@1@4@@oe@2-2-2013
22385020@unknown@formal@none@1@S@1.5 million common shares, via PaineWebber Inc.@@@@1@7@@oe@2-2-2013
22385021@unknown@formal@none@1@S@Employee Benefit Plans Inc. --@@@@1@5@@oe@2-2-2013
22385022@unknown@formal@none@1@S@Two million common shares, via Dean Witter Capital Markets.@@@@1@9@@oe@2-2-2013
22385023@unknown@formal@none@1@S@Exabyte Corp. --@@@@1@3@@oe@2-2-2013
22385024@unknown@formal@none@1@S@2,850,000 common shares, via Goldman Sachs.@@@@1@6@@oe@2-2-2013
22385025@unknown@formal@none@1@S@Knowledgeware Inc. --@@@@1@3@@oe@2-2-2013
22385026@unknown@formal@none@1@S@2.4 million common shares, via Montgomery Securities.@@@@1@7@@oe@2-2-2013
22385027@unknown@formal@none@1@S@Oregon --@@@@1@2@@oe@2-2-2013
22385028@unknown@formal@none@1@S@$100 million of general obligation veterans' tax notes, Series 1989, via competitive bid.@@@@1@13@@oe@2-2-2013
22385029@unknown@formal@none@1@S@Washington, D.C. --@@@@1@3@@oe@2-2-2013
22385030@unknown@formal@none@1@S@$200 million of 1990 general obligation tax revenue notes (Series 1990A), via competitive bid.@@@@1@14@@oe@2-2-2013
22385031@unknown@formal@none@1@S@Virginia Public School Authority --@@@@1@5@@oe@2-2-2013
22385032@unknown@formal@none@1@S@$55,730,000 of school financing bonds, 1989 Series B (1987 resolution), via competitive bid.@@@@1@13@@oe@2-2-2013
22385033@unknown@formal@none@1@S@Austin, Texas --@@@@1@3@@oe@2-2-2013
22385034@unknown@formal@none@1@S@$68,230,000 of various bonds, including $32 million hotel occupancy tax revenue bonds, Series 1989A, and $36.23 million convention center revenue bonds, Series 1989B, via a Morgan Stanley & Co. group.@@@@1@30@@oe@2-2-2013
22385035@unknown@formal@none@1@S@California Health Facilities Financing Authority --@@@@1@6@@oe@2-2-2013
22385036@unknown@formal@none@1@S@$144.5 million of Kaiser Permanente revenue bonds, via a PaineWebber group.@@@@1@11@@oe@2-2-2013
22385037@unknown@formal@none@1@S@Connecticut --@@@@1@2@@oe@2-2-2013
22385038@unknown@formal@none@1@S@$100 million of general obligation capital appreciation bonds, College Savings Plan, 1989 Series B, via a Prudential-Bache Capital Funding group.@@@@1@20@@oe@2-2-2013
22385039@unknown@formal@none@1@S@Pennsylvania Higher Education Facilities Authority --@@@@1@6@@oe@2-2-2013
22385040@unknown@formal@none@1@S@$117 million of revenue bonds for Hahnemann University, Series 1989, via a Merrill Lynch group.@@@@1@15@@oe@2-2-2013
22385041@unknown@formal@none@1@S@Tennessee Valley Authority --@@@@1@4@@oe@2-2-2013
22385042@unknown@formal@none@1@S@Three billion of power bonds, via First Boston Corp.@@@@1@9@@oe@2-2-2013
22385043@unknown@formal@none@1@S@University of Medicine And Dentistry of New Jersey --@@@@1@9@@oe@2-2-2013
22385044@unknown@formal@none@1@S@$55 million of Series C bonds, via a Prudential-Bache group.@@@@1@10@@oe@2-2-2013
22385045@unknown@formal@none@1@S@West Virginia Parkways, Economic Development And Tourism Authority --@@@@1@9@@oe@2-2-2013
22385046@unknown@formal@none@1@S@$143 million of parkway revenue bonds, Series 1989, via a PaineWebber group.@@@@1@12@@oe@2-2-2013
22385047@unknown@formal@none@1@S@San Antonio, Texas --@@@@1@4@@oe@2-2-2013
22385048@unknown@formal@none@1@S@$640 million of gas and electric revenue refunding bonds, via a First Boston group.@@@@1@14@@oe@2-2-2013
22385049@unknown@formal@none@1@S@South Dakota Health & Education Facility Authority --@@@@1@8@@oe@2-2-2013
22385050@unknown@formal@none@1@S@$51.1 million of Rapid City Regional Hospital bonds, via a Dougherty, Dawkins, Strand & Yost Inc. group.@@@@1@17@@oe@2-2-2013
22386001@unknown@formal@none@1@S@Small investors matched their big institutional brethren in anxiety over the weekend, but most seemed to be taking a philosophical approach and said they were resigned to riding out the latest storm in the stock market.@@@@1@36@@oe@2-2-2013
22386002@unknown@formal@none@1@S@"I'm not losing faith in the market," said Boston lawyer Christopher Sullivan as he watched the market plunge on a big screen in front of a brokerage firm.@@@@1@28@@oe@2-2-2013
22386003@unknown@formal@none@1@S@But he's not so sure about everyone else.@@@@1@8@@oe@2-2-2013
22386004@unknown@formal@none@1@S@"I think on Monday the small (investors) are going to panic and sell," predicted Mr. Sullivan, whose investments include AMR Corp.'s American Airlines unit and several mutual funds.@@@@1@28@@oe@2-2-2013
22386005@unknown@formal@none@1@S@"And I think institutions are going to come in and buy . . .@@@@1@14@@oe@2-2-2013
22386006@unknown@formal@none@1@S@I'm going to hold on.@@@@1@5@@oe@2-2-2013
22386007@unknown@formal@none@1@S@If I sell now, I'll take a big loss."@@@@1@9@@oe@2-2-2013
22386008@unknown@formal@none@1@S@Some evinced an optimism that had been rewarded when they didn't flee the market in 1987.@@@@1@16@@oe@2-2-2013
22386009@unknown@formal@none@1@S@"Oh, I bet it'll be up 50 points on Monday," said Lucy Crump, a 78-year-old retired housewife in Lexington, Ky.@@@@1@20@@oe@2-2-2013
22386010@unknown@formal@none@1@S@Mrs. Crump said her Ashwood Investment Club's portfolio lost about one-third of its value following the Black Monday crash, "but no one got discouraged, and we gained that back -- and more."@@@@1@32@@oe@2-2-2013
22386011@unknown@formal@none@1@S@At the annual congress of the National Association of Investors Corp. at the Hyatt Regency hotel in Minneapolis, the scene was calm.@@@@1@22@@oe@2-2-2013
22386012@unknown@formal@none@1@S@Some 500 investors representing investor clubs from around the U.S. were attending when the market started to slide Friday.@@@@1@19@@oe@2-2-2013
22386013@unknown@formal@none@1@S@But Robert Showalter, an official of the association, said no special bulletins or emergency meetings of the investors' clubs are planned.@@@@1@21@@oe@2-2-2013
22386014@unknown@formal@none@1@S@In fact, some of the association's members -- long-term, buy-and-hold investors -- welcomed the drop in prices.@@@@1@17@@oe@2-2-2013
22386015@unknown@formal@none@1@S@"We hope to take advantage of it," said John Snyder, a member of a Los Angeles investors' club.@@@@1@18@@oe@2-2-2013
22386016@unknown@formal@none@1@S@He has four stocks in mind to buy if the prices drop to the level he wants.@@@@1@17@@oe@2-2-2013
22386017@unknown@formal@none@1@S@Not everyone is reacting so calmly, however, and many wonder about the long-term implications of what is widely viewed as the cause of Friday's slide, reluctance by banks to provide financing for a buy-out of UAL Corp., parent of United Airlines.@@@@1@41@@oe@2-2-2013
22386018@unknown@formal@none@1@S@Marc Perkins, a Tampa, Fla., investment banker, said the market drop is one of "a tremendous number of signs that the leveraged take-out era is ending.@@@@1@26@@oe@2-2-2013
22386019@unknown@formal@none@1@S@There's no question that there's a general distaste for leverage among lenders.@@@@1@12@@oe@2-2-2013
22386020@unknown@formal@none@1@S@" Mr. Perkins believes, however, that the market could be stabilized if California investor Marvin Davis steps back in to the United bidding with an offer of $275 a share.@@@@1@30@@oe@2-2-2013
22386021@unknown@formal@none@1@S@Sara Albert, a 34-year-old Dallas law student, says she's generally skittish about the stock market and the takeover activity that seems to fuel it.@@@@1@24@@oe@2-2-2013
22386022@unknown@formal@none@1@S@"I have this feeling that it's built on sand," she says, that the market rises "but there's no foundation to it."@@@@1@21@@oe@2-2-2013
22386023@unknown@formal@none@1@S@She and her husband pulled most of their investments out of the market after the 1987 crash, although she still owns some Texaco stock.@@@@1@24@@oe@2-2-2013
22386024@unknown@formal@none@1@S@Partly because of concern about the economy and partly because she recently quit her job as a legal assistant to go to school, "I think at this point we want to be a lot more liquid."@@@@1@36@@oe@2-2-2013
22386025@unknown@formal@none@1@S@Others wonder how many more of these shocks the small investor can stand.@@@@1@13@@oe@2-2-2013
22386026@unknown@formal@none@1@S@"We all assumed October '87 was a one-time shot," said San Francisco attorney David Greenberg.@@@@1@15@@oe@2-2-2013
22386027@unknown@formal@none@1@S@"We told the little guy it could only happen once in a lifetime, come on back.@@@@1@16@@oe@2-2-2013
22386028@unknown@formal@none@1@S@Now it's happening again."@@@@1@4@@oe@2-2-2013
22386029@unknown@formal@none@1@S@Mr. Greenberg got out just before the 1987 crash and, to his regret, never went back even as the market soared.@@@@1@21@@oe@2-2-2013
22386030@unknown@formal@none@1@S@This time he's ready to buy in "when the panic wears off."@@@@1@12@@oe@2-2-2013
22386031@unknown@formal@none@1@S@Still, he adds: "We can't have this kind of thing happen very often.@@@@1@13@@oe@2-2-2013
22386032@unknown@formal@none@1@S@When the little guy gets frightened, the big guys hurt badly.@@@@1@11@@oe@2-2-2013
22386033@unknown@formal@none@1@S@Merrill Lynch can't survive without the little guy."@@@@1@8@@oe@2-2-2013
22386034@unknown@formal@none@1@S@Small investors have tiptoed back into the market following Black Monday, but mostly through mutual funds.@@@@1@16@@oe@2-2-2013
22386035@unknown@formal@none@1@S@Discount brokerage customers "have been in the market somewhat but not whole hog like they were two years ago," says Leslie Quick Jr., chairman of the Quick & Reilly discount brokerage firm.@@@@1@32@@oe@2-2-2013
22386036@unknown@formal@none@1@S@Hugo Quackenbush, senior vice president at Charles Scwhab Corp., says Schwab customers "have been neutral to cautious recently about stocks."@@@@1@20@@oe@2-2-2013
22386037@unknown@formal@none@1@S@Individual investors are still angry about program trading, Mr. Quackenbush says.@@@@1@11@@oe@2-2-2013
22386038@unknown@formal@none@1@S@Avner Arbel, a Cornell University finance professor, says government regulators will have to more closely control program trading to "win back the confidence of the small investor."@@@@1@27@@oe@2-2-2013
22386039@unknown@formal@none@1@S@But it's not only the stock market that has some small investors worried.@@@@1@13@@oe@2-2-2013
22386040@unknown@formal@none@1@S@Alan Helfman, general sales manager of a Chrysler dealership in Houston, said he and his mother have some joint stock investments, but the overall economy is his chief worry.@@@@1@29@@oe@2-2-2013
22386041@unknown@formal@none@1@S@"These high rollers took a big bath today," he said in his showroom, which is within a few miles of the multi-million dollar homes of some of Houston's richest citizens.@@@@1@30@@oe@2-2-2013
22386042@unknown@formal@none@1@S@"And I can tell you that a high roller isn't going to come in tomorrow and buy a Chrysler TC by Maserati."@@@@1@22@@oe@2-2-2013
22386043@unknown@formal@none@1@S@And, finally, there were the gloaters.@@@@1@6@@oe@2-2-2013
22386044@unknown@formal@none@1@S@"I got out in 1987.@@@@1@5@@oe@2-2-2013
22386045@unknown@formal@none@1@S@Everything," said Pascal Antori, an Akron, Ohio, plumbing contractor who was visiting Chicago and stopped by Fidelity Investments' LaSalle Street office.@@@@1@21@@oe@2-2-2013
22386046@unknown@formal@none@1@S@"I just stopped by to see how much I would have lost."@@@@1@12@@oe@2-2-2013
22386047@unknown@formal@none@1@S@Would Mr. Antori ever get back in?@@@@1@7@@oe@2-2-2013
22386048@unknown@formal@none@1@S@"Are you kidding!@@@@1@3@@oe@2-2-2013
22386049@unknown@formal@none@1@S@When it comes to money: Once bitten, 2,000 times shy.@@@@1@10@@oe@2-2-2013
22387001@unknown@formal@none@1@S@The crowded field for notebook-sized computers is about to become a lot more crowded.@@@@1@14@@oe@2-2-2013
22387002@unknown@formal@none@1@S@Compaq Computer Corp.'s long-awaited entry today into the notebook field is expected to put immediate heat on others in the market, especially Zenith Electronics Corp., the current market leader, and on a swarm of promising start-ups.@@@@1@36@@oe@2-2-2013
22387003@unknown@formal@none@1@S@Compaq's series of notebooks extends a trend toward downsizing in the personal computer market.@@@@1@14@@oe@2-2-2013
22387004@unknown@formal@none@1@S@One manufacturer already has produced a clipboard-sized computer called a notepad, and two others have introduced even smaller "palmtops."@@@@1@19@@oe@2-2-2013
22387005@unknown@formal@none@1@S@But those machines are still considered novelties, with keyboards only a munchkin could love and screens to match.@@@@1@18@@oe@2-2-2013
22387006@unknown@formal@none@1@S@Compaq's notebooks, by contrast, may be the first in their weight class not to skimp on features found in much bigger machines.@@@@1@22@@oe@2-2-2013
22387007@unknown@formal@none@1@S@Analysts say they're faster and carry more memory than anything else of their size on the market -- and they're priced aggressively at $2,400 to $5,000.@@@@1@26@@oe@2-2-2013
22387008@unknown@formal@none@1@S@All of this comes in a machine that weighs only six pounds and fits comfortably into most briefcases.@@@@1@18@@oe@2-2-2013
22387009@unknown@formal@none@1@S@In recent months, Compaq's competition, including Zenith, Toshiba Corp., Tandy Corp. and NEC Corp. all have introduced portables that weigh approximately the same and that are called notebooks -- perhaps misleadingly.@@@@1@31@@oe@2-2-2013
22387010@unknown@formal@none@1@S@One analyst, noting that most such machines are about two inches thick, takes exception to the name.@@@@1@17@@oe@2-2-2013
22387011@unknown@formal@none@1@S@"This isn't quite a notebook -- I call it a phonebook," he says.@@@@1@13@@oe@2-2-2013
22387012@unknown@formal@none@1@S@That can't be said of the $2,400 notepad computer introduced a few weeks ago by GRiD Systems Corp., a unit of Tandy.@@@@1@22@@oe@2-2-2013
22387013@unknown@formal@none@1@S@Instead of a keyboard, it features a writing surface, an electronic pen and the ability to "read" block printing.@@@@1@19@@oe@2-2-2013
22387014@unknown@formal@none@1@S@At 4 1/2 pounds, it may be too ambitiously named, but it nevertheless opens up the kind of marketing possibilities that make analysts froth.@@@@1@24@@oe@2-2-2013
22387015@unknown@formal@none@1@S@Palmtops aren't far behind.@@@@1@4@@oe@2-2-2013
22387016@unknown@formal@none@1@S@Atari Corp.'s Portfolio, introduced in Europe two months ago and in the U.S. in early September, weighs less than a pound, costs a mere $400 and runs on three AA batteries, yet has the power to run some spreadsheets and word processing programs.@@@@1@43@@oe@2-2-2013
22387017@unknown@formal@none@1@S@Some critics, however, say its ability to run commonplace programs is restricted by a limited memory.@@@@1@16@@oe@2-2-2013
22387018@unknown@formal@none@1@S@Poquet Computer Corp., meanwhile, has introduced a much more sophisticated palmtop that can run Lotus 1-2-3 and other sophisticated software programs, but costs five times as much.@@@@1@27@@oe@2-2-2013
22387019@unknown@formal@none@1@S@At stake is what Mike Swavely, Compaq's president of North America operations, calls "the Holy Grail of the computer industry" -- the search for "a real computer in a package so small you can take it everywhere."@@@@1@37@@oe@2-2-2013
22387020@unknown@formal@none@1@S@The market is so new, nobody knows yet how big it can be.@@@@1@13@@oe@2-2-2013
22387021@unknown@formal@none@1@S@"I've had a lot of people trying to sell me services to find out how big it is," says Tom Humphries, director of marketing for GRiD.@@@@1@26@@oe@2-2-2013
22387022@unknown@formal@none@1@S@"Whether it's $5 billion or $3.5 billion, it doesn't matter.@@@@1@10@@oe@2-2-2013
22387023@unknown@formal@none@1@S@It's huge."@@@@1@2@@oe@2-2-2013
22387024@unknown@formal@none@1@S@Consider the growth of portables, which now comprise 12% of all personal computer sales.@@@@1@14@@oe@2-2-2013
22387025@unknown@formal@none@1@S@Laptops -- generally anything under 15 pounds -- have become the fastest-growing personal computer segment, with sales doubling this year.@@@@1@20@@oe@2-2-2013
22387026@unknown@formal@none@1@S@Responding to that demand, however, has led to a variety of compromises.@@@@1@12@@oe@2-2-2013
22387027@unknown@formal@none@1@S@Making computers smaller often means sacrificing memory.@@@@1@7@@oe@2-2-2013
22387028@unknown@formal@none@1@S@It also has precluded use of the faster, more powerful microprocessors found in increasing numbers of desktop machines.@@@@1@18@@oe@2-2-2013
22387029@unknown@formal@none@1@S@Size and weight considerations also have limited screen displays.@@@@1@9@@oe@2-2-2013
22387030@unknown@formal@none@1@S@The competitive sniping can get pretty petty at times.@@@@1@9@@oe@2-2-2013
22387031@unknown@formal@none@1@S@A Poquet spokesman, for example, criticizes the Atari Portfolio because it requires three batteries while the Poquet needs only two.@@@@1@20@@oe@2-2-2013
22387032@unknown@formal@none@1@S@Both palmtops are dismissed by notebook makers, who argue that they're too small -- a problem Poquet also encountered in focus groups, admits Gerry Purdy, director of marketing.@@@@1@28@@oe@2-2-2013
22387033@unknown@formal@none@1@S@Poquet, trying to avoid the "gadget" label, responded with the tag line, "The Poquet PC -- a Very Big Computer."@@@@1@20@@oe@2-2-2013
22387034@unknown@formal@none@1@S@Despite the sniping, few question the inevitability of the move to small machines that don't make compromises.@@@@1@17@@oe@2-2-2013
22387035@unknown@formal@none@1@S@Toward that end, experts say the real battle will take place between center-stage players like Toshiba, Zenith and now Compaq.@@@@1@20@@oe@2-2-2013
22387036@unknown@formal@none@1@S@Compaq's new machines are considered a direct threat to start-up firms like Dynabook Inc., which introduced in June a computer that, like Compaq's, uses an Intel 286 microprocessor and has a hard disk drive.@@@@1@34@@oe@2-2-2013
22387037@unknown@formal@none@1@S@But the Dynabook product is twice as heavy and costs more than Compaq's.@@@@1@13@@oe@2-2-2013
22387038@unknown@formal@none@1@S@Compaq's announcement also spells trouble for Zenith, which last year had 28% of the U.S. laptop market but recently agreed to sell its computer business to Cie. des Machines Bull, the French government-owned computer maker.@@@@1@35@@oe@2-2-2013
22387039@unknown@formal@none@1@S@Zenith holders will vote in December on the proposed $635 million sale, a price that could slip because it is pegged to Zenith's share and sales.@@@@1@26@@oe@2-2-2013
22387040@unknown@formal@none@1@S@Compaq is already taking aim at Zenith's market share.@@@@1@9@@oe@2-2-2013
22387041@unknown@formal@none@1@S@Rod Canion, Compaq's president and chief executive officer, notes pointedly that Zenith's $2,000 MinisPort uses an "unconventional" two-inch floppy disk, whereas Compaq's new machines use the more common 3 1/2-inch disk.@@@@1@31@@oe@2-2-2013
22387042@unknown@formal@none@1@S@John P. Frank, president of Zenith Data Systems, simply shrugs off such criticism, noting that 3 1/2-inch floppies were also "unconventional" when they first replaced five-inch disks.@@@@1@27@@oe@2-2-2013
22387043@unknown@formal@none@1@S@"We don't look at it as not being a standard, we look at it as a new standard," he argues.@@@@1@20@@oe@2-2-2013
22387044@unknown@formal@none@1@S@Analysts don't see it that way.@@@@1@6@@oe@2-2-2013
22387045@unknown@formal@none@1@S@"I can't imagine that you'll talk to anyone who won't tell you this is dynamite for Compaq and a stopper for everyone else," says Gene Talsky, president of Professional Marketing Management Inc.@@@@1@32@@oe@2-2-2013
22387046@unknown@formal@none@1@S@Adds Bill Lempesis, senior industry analyst for DataQuest, a high-technology market research firm: "We basically think that these are very hot products.@@@@1@22@@oe@2-2-2013
22387047@unknown@formal@none@1@S@The problem Compaq is going to have is that they won't be able to make enough of them."@@@@1@18@@oe@2-2-2013
22387048@unknown@formal@none@1@S@Compaq's machines include the 3 1/2-inch floppy disk drive, a backlit screen that is only 1/4-inch thick and an internal expansion slot for a modem -- in other words, almost all the capabilities of a typical office machine.@@@@1@38@@oe@2-2-2013
22387049@unknown@formal@none@1@S@Others undoubtedly will follow, but most analysts believe Compaq has at least a six-month lead on the competition.@@@@1@18@@oe@2-2-2013
22387050@unknown@formal@none@1@S@Toshiba's line of portables, for example, features the T-1000, which is in the same weight class but is much slower and has less memory, and the T-1600, which also uses a 286 microprocessor, but which weighs almost twice as much and is three times the size.@@@@1@46@@oe@2-2-2013
22387051@unknown@formal@none@1@S@A third model, marketed in Japan, may hit the U.S. by the end of the first quarter of 1990, but by then, analysts say, Compaq will have established itself as one of three major players.@@@@1@35@@oe@2-2-2013
22387052@unknown@formal@none@1@S@What about Big Blue?@@@@1@4@@oe@2-2-2013
22387053@unknown@formal@none@1@S@International Business Machines Corp., analysts say, has been burned twice in trying to enter the laptop market and shows no signs of trying to get into notebooks anytime soon.@@@@1@29@@oe@2-2-2013
22388001@unknown@formal@none@1@S@Honeywell Inc. and International Business Machines Corp. received Air Force contracts to develop integrated circuits for use in space.@@@@1@19@@oe@2-2-2013
22388002@unknown@formal@none@1@S@Honeywell's contract totaled $69.7 million, and IBM's $68.8 million.@@@@1@9@@oe@2-2-2013
22388003@unknown@formal@none@1@S@Boeing Co. received a $46.7 million Air Force contract for developing cable systems for the Minuteman Missile.@@@@1@17@@oe@2-2-2013
22388004@unknown@formal@none@1@S@General Dynamics Corp. received a $29 million Air Force contract for electronic-warfare training sets.@@@@1@14@@oe@2-2-2013
22388005@unknown@formal@none@1@S@Grumman Corp. received an $18.1 million Navy contract to upgrade aircraft electronics.@@@@1@12@@oe@2-2-2013
22388006@unknown@formal@none@1@S@Avco Corp. received an $11.8 million Army contract for helicopter engines.@@@@1@11@@oe@2-2-2013
22389001@unknown@formal@none@1@S@Sharp increases in the price of fresh produce caused Spain's September consumer price index to shoot up 1.1% from the previous month, pushing the annual rate of inflation to 6.8%, the National Institute of Statistics said Friday.@@@@1@37@@oe@2-2-2013
22389002@unknown@formal@none@1@S@The monthly increase is the highest recorded in the past four years.@@@@1@12@@oe@2-2-2013
22389003@unknown@formal@none@1@S@The index, which registered 156.8 at the end of September, has a base of 100 set in 1983 and isn't seasonally adjusted.@@@@1@22@@oe@2-2-2013
22389004@unknown@formal@none@1@S@Prices have risen 5.9% in the first nine months of the year, outstripping both the initial 3% inflation goal set by the government of Socialist Prime Minister Felipe Gonzalez and the second, revised goal of 5.8%.@@@@1@36@@oe@2-2-2013
22390001@unknown@formal@none@1@S@Japan's wholesale prices in September rose 3.3% from a year earlier and were up 0.4% from the previous month, the Bank of Japan announced Friday.@@@@1@25@@oe@2-2-2013
22390002@unknown@formal@none@1@S@The wholesale price index stood at 90.1, compared with a 1985 base of 100.@@@@1@14@@oe@2-2-2013
22391001@unknown@formal@none@1@S@Plunge?@@@@1@1@@oe@2-2-2013
22391002@unknown@formal@none@1@S@What plunge?@@@@1@2@@oe@2-2-2013
22391003@unknown@formal@none@1@S@Twenty-four New York Stock Exchange issues hit 52-week highs during Friday's trading, despite the Dow Jones Industrial Average's 190.58-point plunge.@@@@1@20@@oe@2-2-2013
22391004@unknown@formal@none@1@S@Stocks of utilities held up relatively better than other market sectors during the sell-off.@@@@1@14@@oe@2-2-2013
22391005@unknown@formal@none@1@S@And among the issues hitting new highs were Detroit Edison Co. and Niagara Mohawk Power Corp.@@@@1@16@@oe@2-2-2013
22391006@unknown@formal@none@1@S@Other major issues hitting highs included American Telephone & Telegraph Co., Westinghouse Electric Corp., Exxon Corp. and Cigna Corp., the big insurer.@@@@1@22@@oe@2-2-2013
22391007@unknown@formal@none@1@S@Of course, many more issues -- 93 -- hit new lows.@@@@1@11@@oe@2-2-2013
22391008@unknown@formal@none@1@S@These included International Business Machines Corp., which during Friday's session traded below $100 a share for the first time since June 1984.@@@@1@22@@oe@2-2-2013
22391009@unknown@formal@none@1@S@IBM closed at $102, down $5.625.@@@@1@6@@oe@2-2-2013
22391010@unknown@formal@none@1@S@Other new lows included Navistar International Corp., Union Carbide Corp. and Bethlehem Steel Corp., all of which are included in the industrial average.@@@@1@23@@oe@2-2-2013
22391011@unknown@formal@none@1@S@Meanwhile, two initial public offerings braved the cascading market in their maiden day of national over-the-counter trading Friday.@@@@1@18@@oe@2-2-2013
22391012@unknown@formal@none@1@S@Shares of Rally's Inc., an operator of fast-food restaurants, closed at $17 each, up from its $15 offering price and shares of Employee Benefit Plans Inc., a health-care consultant, closed at $14.125, up from its $12 offering price.@@@@1@38@@oe@2-2-2013
22392001@unknown@formal@none@1@S@Ford Motor Co. said it acquired 5% of the shares in Jaguar PLC.@@@@1@13@@oe@2-2-2013
22392002@unknown@formal@none@1@S@Jaguar, the London Stock Exchange and the U.S. Securities and Exchange Commission are being notified of the transactions, the company said.@@@@1@21@@oe@2-2-2013
22392003@unknown@formal@none@1@S@The U.S. Federal Trade Commission advised Ford last week that it wouldn't raise any objection to the acquisition of as much as 15% of Jaguar shares.@@@@1@26@@oe@2-2-2013
22392004@unknown@formal@none@1@S@The No. 2 auto maker disclosed last month that it wants to buy as much as 15% of the British luxury-car maker, the maximum allowed under current United Kingdom government restrictions.@@@@1@31@@oe@2-2-2013
22392005@unknown@formal@none@1@S@General Motors Corp. said it had discussed the possibility of a joint venture with Jaguar before Ford began buying shares.@@@@1@20@@oe@2-2-2013
22392006@unknown@formal@none@1@S@GM said it still is talking with Jaguar about acquiring a minority interest.@@@@1@13@@oe@2-2-2013
22393001@unknown@formal@none@1@S@Investors who bought stock with borrowed money -- that is, "on margin" -- may be more worried than most following Friday's market drop.@@@@1@23@@oe@2-2-2013
22393002@unknown@formal@none@1@S@That's because their brokers can require them to sell some shares or put up more cash to enhance the collateral backing their loans.@@@@1@23@@oe@2-2-2013
22393003@unknown@formal@none@1@S@In October 1987, these margin calls were thought to have contributed to the downward spiral of the stock market.@@@@1@19@@oe@2-2-2013
22393004@unknown@formal@none@1@S@Typically, a margin call occurs when the price of a stock falls below 75% of its original value.@@@@1@18@@oe@2-2-2013
22393005@unknown@formal@none@1@S@If the investor doesn't put up the extra cash to satisfy the call, the brokerage firm may begin liquidating the securities.@@@@1@21@@oe@2-2-2013
22393006@unknown@formal@none@1@S@But some big brokerage firms said they don't expect major problems as a result of margin calls.@@@@1@17@@oe@2-2-2013
22393007@unknown@formal@none@1@S@Margin calls since Friday "have been higher than usual, but reasonable," a spokesman for Shearson Lehman Hutton Inc. said.@@@@1@19@@oe@2-2-2013
22393008@unknown@formal@none@1@S@Merrill Lynch & Co. officials "don't expect {margin calls} to be as big a factor as in 1987" because fewer individual investors are buying stock on margin, a spokesman said.@@@@1@30@@oe@2-2-2013
22393009@unknown@formal@none@1@S@Hugo Quackenbush, senior vice president at Charles Schwab Corp., the San Francisco-based discount brokerage firm, said he didn't expect any immediate problems with margin calls for Schwab customers.@@@@1@28@@oe@2-2-2013
22393010@unknown@formal@none@1@S@He said Schwab had increased margin requirements "so customers have more of a cushion."@@@@1@14@@oe@2-2-2013
22393011@unknown@formal@none@1@S@He added: "We learned a lesson in 1987 about volatility.@@@@1@10@@oe@2-2-2013
22394001@unknown@formal@none@1@S@Avis Inc., following rival Hertz Corp.'s lead, said it is backing out of frequent-flier programs with three airlines.@@@@1@18@@oe@2-2-2013
22394002@unknown@formal@none@1@S@The Garden City, N.Y., car-rental company said it won't renew contracts with NWA Inc.'s Northwest Airlines unit, Pan Am Corp.'s Pan American World Airways unit and Midway Airlines at the end of this year.@@@@1@34@@oe@2-2-2013
22394003@unknown@formal@none@1@S@But it remains involved in programs with AMR Corp.'s American Airlines unit and Delta Air Lines.@@@@1@16@@oe@2-2-2013
22394004@unknown@formal@none@1@S@Industry estimates put Avis's annual cost of all five programs at between $8 million and $14 million.@@@@1@17@@oe@2-2-2013
22394005@unknown@formal@none@1@S@A spokesman for Avis wouldn't specify the costs but said the three airlines being dropped account for "far less than half" of the total.@@@@1@24@@oe@2-2-2013
22394006@unknown@formal@none@1@S@Budget Rent a Car Corp., of Chicago, and National Car Rental Systems Inc., of Minneapolis, both said they had no plans to follow suit.@@@@1@24@@oe@2-2-2013
22394007@unknown@formal@none@1@S@In fact, Budget indicated it saw some benefit to staying involved in these programs, in which renters earn frequent-flier miles and fliers can get car-rental discounts.@@@@1@26@@oe@2-2-2013
22394008@unknown@formal@none@1@S@"I cannot see how this news by Hertz and Avis cannot benefit Budget's programs," said Bob Wilson, Budget's vice president, marketing planning.@@@@1@22@@oe@2-2-2013
22394009@unknown@formal@none@1@S@Northwest and Midway are two of the five airlines with which Budget has agreements.@@@@1@14@@oe@2-2-2013
22394010@unknown@formal@none@1@S@National also participates in the Northwest frequent-flier program along with four other airlines, including Delta and USAir Group Inc.'s USAir unit.@@@@1@21@@oe@2-2-2013
22394011@unknown@formal@none@1@S@A month ago, Hertz, of Park Ridge, N.J., said that it would drop its marketing agreements at year end with Delta, America West and Texas Air Corp.'s Continental Airlines and Eastern Airlines, and that pacts with American Airlines, UAL Inc's United Airlines and USAir also would be ended. . . sometime after Dec. 31.@@@@1@54@@oe@2-2-2013
22394012@unknown@formal@none@1@S@At the time, Hertz said its annual fees to those airlines amounted to $20 million and that the value of redeemed awards topped $15 million.@@@@1@25@@oe@2-2-2013
22394013@unknown@formal@none@1@S@Analysts and competitors, however, doubt the numbers were that high.@@@@1@10@@oe@2-2-2013
22394014@unknown@formal@none@1@S@Budget said its frequent-flier costs are "substantially below" Avis's level.@@@@1@10@@oe@2-2-2013
22394015@unknown@formal@none@1@S@Robert D. Cardillo, Avis vice president of marketing, said, "The proliferation and costs attached to {frequent-flier programs} have significantly diminished their value."@@@@1@22@@oe@2-2-2013
22394016@unknown@formal@none@1@S@This year has been difficult for both Hertz and Avis, said Charles Finnie, car-rental industry analyst at Alex. Brown & Sons.@@@@1@21@@oe@2-2-2013
22394017@unknown@formal@none@1@S@"They've been looking to get their costs down, and this is a fairly sensible way to do it," he said.@@@@1@20@@oe@2-2-2013
22395001@unknown@formal@none@1@S@CBS Inc. is cutting "The Pat Sajak Show" down to one hour from its current 90 minutes.@@@@1@17@@oe@2-2-2013
22395002@unknown@formal@none@1@S@CBS insisted the move wasn't a setback for the program, which is the network's first entry into the late-night talk show format since 1972.@@@@1@24@@oe@2-2-2013
22395003@unknown@formal@none@1@S@"I have every intention of making this the best possible show and having it run one hour is the best way to it," said Rod Perth, who was named vice president of late night entertainment in August.@@@@1@37@@oe@2-2-2013
22395004@unknown@formal@none@1@S@"This will raise the energy level of the show."@@@@1@9@@oe@2-2-2013
22395005@unknown@formal@none@1@S@CBS will continue to program action-adventure shows to follow the Sajak hour.@@@@1@12@@oe@2-2-2013
22395006@unknown@formal@none@1@S@But CBS News will extend its four-hour "Nightwatch" by 30 minutes and begin at 1:30 a.m.@@@@1@16@@oe@2-2-2013
22395007@unknown@formal@none@1@S@The show, despite a promising start, has slipped badly in the weekly ratings as compiled by A.C. Nielsen Co., finishing far below "Tonight" on NBC, a unit of General Electric Co., and "Nightline" on ABC-TV, a unit of Capital Cities/ABC Inc.@@@@1@41@@oe@2-2-2013
22395008@unknown@formal@none@1@S@Further fractioning the late-night audience is the addition of the "Arsenio Hall Show," syndicated by Paramount Communications Inc.@@@@1@18@@oe@2-2-2013
22396001@unknown@formal@none@1@S@Tandem Computers Inc., preparing to fight with International Business Machines Corp. for a piece of the mainframe business, said it expects to post higher revenue and earnings for its fiscal fourth quarter ended Sept. 30.@@@@1@35@@oe@2-2-2013
22396002@unknown@formal@none@1@S@Tandem said it expects to report revenue of about $450 million and earnings of 35 cents to 40 cents a share.@@@@1@21@@oe@2-2-2013
22396003@unknown@formal@none@1@S@The results, which are in line with analysts' estimates, reflect "a continued improvement in our U.S. business," said James Treybig, Tandem's chief executive officer.@@@@1@24@@oe@2-2-2013
22396004@unknown@formal@none@1@S@In the year-earlier period, Tandem reported net income of $30.1 million, or 31 cents a share, on revenue of $383.9 million.@@@@1@21@@oe@2-2-2013
22396005@unknown@formal@none@1@S@Tandem expects to report the full results for the quarter next week.@@@@1@12@@oe@2-2-2013
22396006@unknown@formal@none@1@S@Analysts have predicted that the Cupertino, Calif., company will report revenue of $430 million to $460 million and earnings of 35 cents to 40 cents a share.@@@@1@27@@oe@2-2-2013
22396007@unknown@formal@none@1@S@Commenting on the results for the quarter, Mr. Treybig said the strength of the company's domestic business came as "a surprise" to him, noting that sales "in every region of the U.S. exceeded our plan."@@@@1@35@@oe@2-2-2013
22396008@unknown@formal@none@1@S@The company's U.S. performance was helped by "a record quarter for new customers," he said.@@@@1@15@@oe@2-2-2013
22396009@unknown@formal@none@1@S@Tandem makes "fault-tolerant" computers -- machines with built-in backup systems -- that run stock exchanges, networks of automatic tellers and other complex computer systems.@@@@1@24@@oe@2-2-2013
22396010@unknown@formal@none@1@S@Tomorrow the company is scheduled to announce its most powerful computer ever, which for the first time will bring it into direct competition with makers of mainframe computers.@@@@1@28@@oe@2-2-2013
22396011@unknown@formal@none@1@S@Tandem's new high-end computer is called Cyclone.@@@@1@7@@oe@2-2-2013
22396012@unknown@formal@none@1@S@Prices for the machine, which can come in various configurations, are $2 million to $10 million.@@@@1@16@@oe@2-2-2013
22396013@unknown@formal@none@1@S@Analysts expect the new computer to wrest a hefty slice of business away from IBM, the longtime leader in mainframes.@@@@1@20@@oe@2-2-2013
22396014@unknown@formal@none@1@S@"We believe they could siphon perhaps two to three billion dollars from IBM" over the next few years, said George Weiss, an analyst at the Gartner group.@@@@1@27@@oe@2-2-2013
22396015@unknown@formal@none@1@S@That will spur Tandem's growth.@@@@1@5@@oe@2-2-2013
22396016@unknown@formal@none@1@S@"I'd be disappointed if the company grew by less than 20% next year," said John Levinson, an analyst at Goldman, Sachs & Co.@@@@1@23@@oe@2-2-2013
22396017@unknown@formal@none@1@S@IBM is expected to respond to Tandem's Cyclone by discounting its own mainframes, which analysts say are roughly three times the price of a comparable system from Tandem.@@@@1@28@@oe@2-2-2013
22396018@unknown@formal@none@1@S@"Obviously IBM can give bigger discounts to users immediately," said Mr. Weiss.@@@@1@12@@oe@2-2-2013
22396019@unknown@formal@none@1@S@But Mr. Treybig questions whether that will be enough to stop Tandem's first mainframe from taking on some of the functions that large organizations previously sought from Big Blue's machines.@@@@1@30@@oe@2-2-2013
22396020@unknown@formal@none@1@S@"The answer isn't price reductions, but new systems," he said.@@@@1@10@@oe@2-2-2013
22396021@unknown@formal@none@1@S@Nevertheless, Tandem faces a variety of challenges, the biggest being that customers generally view the company's computers as complementary to IBM's mainframes.@@@@1@22@@oe@2-2-2013
22396022@unknown@formal@none@1@S@Even Mr. Treybig is reluctant to abandon this notion, insisting that Tandem's new machines aren't replacements for IBM's mainframes.@@@@1@19@@oe@2-2-2013
22396023@unknown@formal@none@1@S@"We're after a little bigger niche," he said.@@@@1@8@@oe@2-2-2013
22397001@unknown@formal@none@1@S@Don't jump yet.@@@@1@3@@oe@2-2-2013
22397002@unknown@formal@none@1@S@The stock market's swoon may turn out to be good news for the economy.@@@@1@14@@oe@2-2-2013
22397003@unknown@formal@none@1@S@In one wild hour of trading, the market managed to accomplish what the Bush administration has been trying to do, unsuccessfully, for weeks.@@@@1@23@@oe@2-2-2013
22397004@unknown@formal@none@1@S@It is forcing the Federal Reserve to ease its grip on credit and it took the wind out of a previously irrepressible dollar.@@@@1@23@@oe@2-2-2013
22397005@unknown@formal@none@1@S@The resulting decline in interest rates and the value of the dollar could reinvigorate American business -- indeed, the entire economy.@@@@1@21@@oe@2-2-2013
22397006@unknown@formal@none@1@S@This may sound strangely optimistic.@@@@1@5@@oe@2-2-2013
22397007@unknown@formal@none@1@S@After all, until a few years ago, the stock market was viewed as a barometer of the national economy.@@@@1@19@@oe@2-2-2013
22397008@unknown@formal@none@1@S@When it went down, by all tradition, the economy followed.@@@@1@10@@oe@2-2-2013
22397009@unknown@formal@none@1@S@That has changed, partly because the two years following the worst stock-market plunge in history have been reasonably comfortable.@@@@1@19@@oe@2-2-2013
22397010@unknown@formal@none@1@S@The 1987 crash was "a false alarm however you view it," says University of Chicago economist Victor Zarnowitz.@@@@1@18@@oe@2-2-2013
22397011@unknown@formal@none@1@S@The market seems increasingly disconnected from the rest of the nation.@@@@1@11@@oe@2-2-2013
22397012@unknown@formal@none@1@S@Its spasms can't be traced to fundamental business conditions, nor do they appear to presage major shifts in the economy.@@@@1@20@@oe@2-2-2013
22397013@unknown@formal@none@1@S@"The market today has a life of its own," John Akers, chairman of International Business Machines Corp., said Saturday.@@@@1@19@@oe@2-2-2013
22397014@unknown@formal@none@1@S@"There's nothing rational about this kind of action."@@@@1@8@@oe@2-2-2013
22397015@unknown@formal@none@1@S@Of course, the health of the economy will be threatened if the market continues to dive this week.@@@@1@18@@oe@2-2-2013
22397016@unknown@formal@none@1@S@Sharply falling stock prices do reduce consumer wealth, damage business confidence and discourage the foreign investors upon whom the U.S. now relies for financial sustenance.@@@@1@25@@oe@2-2-2013
22397017@unknown@formal@none@1@S@The financial-services industry was battered by the 1987 crash.@@@@1@9@@oe@2-2-2013
22397018@unknown@formal@none@1@S@What's more, although the stock market is far less overvalued today than two years ago, the U.S. economy is weaker.@@@@1@20@@oe@2-2-2013
22397019@unknown@formal@none@1@S@Growth is slower.@@@@1@3@@oe@2-2-2013
22397020@unknown@formal@none@1@S@Profits are softer.@@@@1@3@@oe@2-2-2013
22397021@unknown@formal@none@1@S@Debt burdens are heavier.@@@@1@4@@oe@2-2-2013
22397022@unknown@formal@none@1@S@But if the stock market doesn't continue to plummet, the beneficial effects of lower interest rates and a lower dollar may well dominate.@@@@1@23@@oe@2-2-2013
22397023@unknown@formal@none@1@S@The Fed, which until Friday had been resisting moves to ease credit, is now poised to pour money into the economy if needed to soothe the markets.@@@@1@27@@oe@2-2-2013
22397024@unknown@formal@none@1@S@Fed officials may protest that this doesn't necessarily mean a fundamental change in their interest-rate policies.@@@@1@16@@oe@2-2-2013
22397025@unknown@formal@none@1@S@But the experience of the 1987 crash suggests the Fed is likely to bring down short-term interest rates in its effort to calm markets.@@@@1@24@@oe@2-2-2013
22397026@unknown@formal@none@1@S@Anticipating the Fed's move, money traders lowered a key interest rate known as the Federal Funds rate to 8.625% late Friday, down from 8.820% the day before.@@@@1@27@@oe@2-2-2013
22397027@unknown@formal@none@1@S@Tiny movements in the rate, which is what banks charge each other for overnight loans, are usually among the few visible tracks that the Fed leaves on the monetary markets.@@@@1@30@@oe@2-2-2013
22397028@unknown@formal@none@1@S@The dollar also began to decline Friday as the stock market's plunge caused some investors to reassess their desire to invest in the U.S.@@@@1@24@@oe@2-2-2013
22397029@unknown@formal@none@1@S@Treasury officials have been arguing for months that the dollar's strength was out of whack with economic fundamentals, threatening to extinguish the export boom that has sustained manufacturers for several years.@@@@1@31@@oe@2-2-2013
22397030@unknown@formal@none@1@S@The market drop has now apparently convinced foreign investors that the Treasury was right about the overpriced dollar.@@@@1@18@@oe@2-2-2013
22397031@unknown@formal@none@1@S@A modest drop in the dollar -- only a modest one, mind you -- would be welcomed by the U.S.@@@@1@20@@oe@2-2-2013
22397032@unknown@formal@none@1@S@That wasn't the case in 1987, when the dollar was so weak that some economists and government officials seriously worried that it might collapse, producing panic among foreign investors and diminishing the flow of foreign capital to the U.S.@@@@1@39@@oe@2-2-2013
22397033@unknown@formal@none@1@S@Another big difference between 1987 and 1989 isn't so comforting.@@@@1@10@@oe@2-2-2013
22397034@unknown@formal@none@1@S@In the third quarter of 1987, the economy spurted at an inflation-adjusted annual rate of 5.3%.@@@@1@16@@oe@2-2-2013
22397035@unknown@formal@none@1@S@The consensus among economists is that it grew a much more sluggish 2.3% in the third quarter of 1989, which ended two weeks ago.@@@@1@24@@oe@2-2-2013
22397036@unknown@formal@none@1@S@The plunge in stock prices "is happening at a time when the economy has already slowed down," says economist Lawrence Chimerine of WEFA Group, a Bala Cynwyd, Pa., forecasting company.@@@@1@30@@oe@2-2-2013
22397037@unknown@formal@none@1@S@"A lot of pent-up demand is gone."@@@@1@7@@oe@2-2-2013
22397038@unknown@formal@none@1@S@Consumer spending did drop in the months following Black Monday 1987 -- "but only slightly and for a short period of time," recalls Mr. Zarnowitz, a longtime student of business cycles.@@@@1@31@@oe@2-2-2013
22397039@unknown@formal@none@1@S@"That was offset by strength elsewhere.@@@@1@6@@oe@2-2-2013
22397040@unknown@formal@none@1@S@{The effects} were much less severe and less prolonged than some had feared or expected.@@@@1@15@@oe@2-2-2013
22397041@unknown@formal@none@1@S@" Today, he frets, exports and business investment spending may be insufficient to pick up the slack if stock prices sink this week and if consumers retrench in reaction.@@@@1@29@@oe@2-2-2013
22397042@unknown@formal@none@1@S@What's more, the corporate borrowing binge hasn't abated in the past two years.@@@@1@13@@oe@2-2-2013
22397043@unknown@formal@none@1@S@"We've had two more years of significant accumulation of debt . . . just at the time when earnings are being squeezed," Mr. Chimerine notes.@@@@1@25@@oe@2-2-2013
22397044@unknown@formal@none@1@S@The more a company relies on borrowed money, the greater its sensitivity to an economic slowdown.@@@@1@16@@oe@2-2-2013
22397045@unknown@formal@none@1@S@A company with a strong balance sheet can withstand an unanticipated storm; a highly leveraged company may end up in bankruptcy court.@@@@1@22@@oe@2-2-2013
22397046@unknown@formal@none@1@S@The Fed, of course, knows that very well -- hence its readiness to pump credit into the economy this morning.@@@@1@20@@oe@2-2-2013
22397047@unknown@formal@none@1@S@But, in the process, the Fed risks reigniting inflation.@@@@1@9@@oe@2-2-2013
22397048@unknown@formal@none@1@S@Even before Friday's events, Harvard University economist Benjamin Friedman was arguing that the Fed won't be able to live up to its tough words on eliminating inflation because of its responsibility to protect fragile financial markets, banks and highly leveraged corporations.@@@@1@41@@oe@2-2-2013
22397049@unknown@formal@none@1@S@The biggest threat on the economic horizon right now isn't recession, he reasons; it's an outbreak of uncontrolled inflation.@@@@1@19@@oe@2-2-2013
22397050@unknown@formal@none@1@S@In the end, the 1987 collapse suggested, the economy doesn't move in lockstep with stock prices.@@@@1@16@@oe@2-2-2013
22397051@unknown@formal@none@1@S@The economy does, however, depend on the confidence of businesses, consumers and foreign investors.@@@@1@14@@oe@2-2-2013
22397052@unknown@formal@none@1@S@A panic on Wall Street doesn't exactly inspire confidence.@@@@1@9@@oe@2-2-2013
22397053@unknown@formal@none@1@S@Surveys suggested that consumer confidence was high before Friday.@@@@1@9@@oe@2-2-2013
22397054@unknown@formal@none@1@S@A 190-point drop isn't likely to make much of a dent; multiply that a few times over, though, and it will.@@@@1@21@@oe@2-2-2013
22397055@unknown@formal@none@1@S@If the reactions of executives gathered Saturday at Hot Springs, Va., for the Business Council meetings are typical, business leaders weren't overly rattled by Friday's decline.@@@@1@26@@oe@2-2-2013
22397056@unknown@formal@none@1@S@And if foreign investors become a tad more cautious -- well, the dollar's recent strength suggests that the U.S. can stand it.@@@@1@22@@oe@2-2-2013
22397057@unknown@formal@none@1@S@On the bottom line, the most comforting fact for the economic outlook is that we've been through this before.@@@@1@19@@oe@2-2-2013
22397058@unknown@formal@none@1@S@Two years ago, about the only point of comparison was the 1929 crash and the subsequent Depression.@@@@1@17@@oe@2-2-2013
22397059@unknown@formal@none@1@S@The doomsayers had a receptive audience.@@@@1@6@@oe@2-2-2013
22397060@unknown@formal@none@1@S@The prosperity that followed Black Monday permits a more optimistic view today.@@@@1@12@@oe@2-2-2013
22397061@unknown@formal@none@1@S@At the very least, the establishment here is taking comfort from the nation's success in handling the last go-around.@@@@1@19@@oe@2-2-2013
22397062@unknown@formal@none@1@S@As Sen. Lloyd Bentsen (D., Texas) observed yesterday, "The Fed avoided a meltdown last time.@@@@1@15@@oe@2-2-2013
22397063@unknown@formal@none@1@S@They are more sophisticated this time.@@@@1@6@@oe@2-2-2013
22398001@unknown@formal@none@1@S@The chemical industry is expected to report that profits eroded in the third quarter because of skidding prices in the commodity end of the business.@@@@1@25@@oe@2-2-2013
22398002@unknown@formal@none@1@S@Producers of commodity chemicals, the basic chemicals produced in huge volumes for other manufacturers, have seen sharp inventory cutting by buyers.@@@@1@21@@oe@2-2-2013
22398003@unknown@formal@none@1@S@Once the chief beneficiaries of the industry's now fading boom, these producers also will be reporting against exceptionally strong performances in the 1988 third quarter.@@@@1@25@@oe@2-2-2013
22398004@unknown@formal@none@1@S@"For some of these companies, this will be the first quarter with year-to-year negative comparisons," says Leonard Bogner, a chemical industry analyst at Prudential Bache Research.@@@@1@26@@oe@2-2-2013
22398005@unknown@formal@none@1@S@"This could be the first of five or six down quarters."@@@@1@11@@oe@2-2-2013
22398006@unknown@formal@none@1@S@Perhaps most prominent, Dow Chemical Co., which as of midyear had racked up eight consecutive record quarters, is expected to report that profit decreased in the latest quarter from a year earlier, if only by a shade.@@@@1@37@@oe@2-2-2013
22398007@unknown@formal@none@1@S@Though Dow has aggressively diversified into specialty chemicals and pharmaceuticals, the company still has a big stake in polyethylene, which is used in packaging and housewares.@@@@1@26@@oe@2-2-2013
22398008@unknown@formal@none@1@S@Analysts' third-quarter estimates for the Midland, Mich., company are between $3.20 a share and $3.30 a share, compared with $3.36 a year ago, when profit was $632 million on sales of $4.15 billion.@@@@1@33@@oe@2-2-2013
22398009@unknown@formal@none@1@S@A Dow spokeswoman declined to comment on the estimates.@@@@1@9@@oe@2-2-2013
22398010@unknown@formal@none@1@S@At the investment firm of Smith Barney, Harris Upham & Co., the commodity-chemical segment is seen pulling down overall profit for 20 companies representative of the whole industry by 8% to 10%.@@@@1@32@@oe@2-2-2013
22398011@unknown@formal@none@1@S@"You will find the commodities off more than the others and the diversified companies about even or slightly better," says James Wilbur, a Smith Barney analyst.@@@@1@26@@oe@2-2-2013
22398012@unknown@formal@none@1@S@First Boston Corp. projects that 10 of the 15 companies it follows will report lower profit.@@@@1@16@@oe@2-2-2013
22398013@unknown@formal@none@1@S@Most of the 10 have big commodity-chemical operations.@@@@1@8@@oe@2-2-2013
22398014@unknown@formal@none@1@S@Still, some industry giants are expected to report continuing gains, largely because so much of their business is outside commodity chemicals.@@@@1@21@@oe@2-2-2013
22398015@unknown@formal@none@1@S@Du Pont Co. is thought to have had steady profit growth in white pigments, fibers and polymers.@@@@1@17@@oe@2-2-2013
22398016@unknown@formal@none@1@S@Moreover, the Wilmington, Del., company is helped when prices weaken on the commodity chemicals it buys for its own production needs, such as ethylene.@@@@1@24@@oe@2-2-2013
22398017@unknown@formal@none@1@S@Analysts are divided over whether Du Pont will report much of a gain in the latest quarter from its Conoco Inc. oil company.@@@@1@23@@oe@2-2-2013
22398018@unknown@formal@none@1@S@The estimates for Du Pont range from $2.25 to $2.45 a share.@@@@1@12@@oe@2-2-2013
22398019@unknown@formal@none@1@S@In the 1988 third quarter, the company earned $461 million, or $1.91 a share, on sales of $7.99 billion.@@@@1@19@@oe@2-2-2013
22398020@unknown@formal@none@1@S@Du Pont declined to comment.@@@@1@5@@oe@2-2-2013
22398021@unknown@formal@none@1@S@Monsanto Co., too, is expected to continue reporting higher profit, even though its sales of crop chemicals were hurt in the latest quarter by drought in northern Europe and the western U.S.@@@@1@32@@oe@2-2-2013
22398022@unknown@formal@none@1@S@The St. Louis-based company is expected to report again that losses in its G.D. Searle & Co. pharmaceutical business are narrowing.@@@@1@21@@oe@2-2-2013
22398023@unknown@formal@none@1@S@Searle continued to operate in the red through the first half of the year, but Monsanto has said it expects Searle to post a profit for all of 1989.@@@@1@29@@oe@2-2-2013
22398024@unknown@formal@none@1@S@Most estimates for Monsanto run between $1.70 and $2 a share.@@@@1@11@@oe@2-2-2013
22398025@unknown@formal@none@1@S@A year ago, the company posted third-quarter profit of $116 million, or $1.67 a share, on sales of $2.02 billion.@@@@1@20@@oe@2-2-2013
22398026@unknown@formal@none@1@S@Monsanto declined to comment.@@@@1@4@@oe@2-2-2013
22398027@unknown@formal@none@1@S@But the commodity-chemical producers are caught on the downside of a pricing cycle.@@@@1@13@@oe@2-2-2013
22398028@unknown@formal@none@1@S@By some accounts on Wall Street and in the industry, the inventory reductions are near an end, which may presage firmer demand.@@@@1@22@@oe@2-2-2013
22398029@unknown@formal@none@1@S@But doubters say growing production capacity could keep pressure on prices into the early 1990s.@@@@1@15@@oe@2-2-2013
22398030@unknown@formal@none@1@S@In the latest quarter, at least, profit is expected to fall sharply.@@@@1@12@@oe@2-2-2013
22398031@unknown@formal@none@1@S@For Himont Inc., "how far down it is, we don't know," says Leslie Ravitz at Salomon Brothers.@@@@1@17@@oe@2-2-2013
22398032@unknown@formal@none@1@S@The projections are in the neighborhood of 50 cents a share to 75 cents, compared with a restated $1.65 a share a year earlier, when profit was $107.8 million on sales of $435.5 million.@@@@1@34@@oe@2-2-2013
22398033@unknown@formal@none@1@S@Himont faces lower prices for its mainstay product, polypropylene, while it goes forward with a heavy capital investment program to bolster its raw material supply and develop new uses for polypropylene, whose markets include the packaging and automobile industries.@@@@1@39@@oe@2-2-2013
22398034@unknown@formal@none@1@S@The company, based in Wilmington, Del., is 81%-owned by Montedison S.p.A., Milan, which has an offer outstanding for the Himont shares it doesn't already own.@@@@1@25@@oe@2-2-2013
22398035@unknown@formal@none@1@S@At Quantum Chemical Corp., New York, the trouble is lower prices for polyethylene, higher debt costs and the idling of an important plant due to an explosion.@@@@1@27@@oe@2-2-2013
22398036@unknown@formal@none@1@S@Some analysts hedge their estimates for Quantum, because it isn't known when the company will book certain one-time charges.@@@@1@19@@oe@2-2-2013
22398037@unknown@formal@none@1@S@But the estimates range from break-even to 35 cents a share.@@@@1@11@@oe@2-2-2013
22398038@unknown@formal@none@1@S@In the 1988 third quarter, Quantum earned $99.8 million, or $3.92 a share, on sales of $724.4 million.@@@@1@18@@oe@2-2-2013
22398039@unknown@formal@none@1@S@Another big polyethylene producer, Union Carbide Corp., is expected to post profit of between $1 a share and $1.25, compared with $1.56 a share a year earlier, when the company earned $213 million on sales of $2.11 billion.@@@@1@38@@oe@2-2-2013
22398040@unknown@formal@none@1@S@Himont, Quantum and Union Carbide all declined to comment.@@@@1@9@@oe@2-2-2013
22399001@unknown@formal@none@1@S@The following were among Friday's offerings and pricings in the U.S. and non-U.S. capital markets, with terms and syndicate manager, as compiled by Dow Jones Capital Markets Report:@@@@1@28@@oe@2-2-2013
22399002@unknown@formal@none@1@S@Dow Chemical Co. --@@@@1@4@@oe@2-2-2013
22399003@unknown@formal@none@1@S@$150 million of 8.55% senior notes due Oct. 15, 2009, priced at par.@@@@1@13@@oe@2-2-2013
22399004@unknown@formal@none@1@S@The issue, which is puttable back to the company at par on Oct. 15, 1999, was priced at a spread of 50 basis points above the Treasury's 10-year note.@@@@1@29@@oe@2-2-2013
22399005@unknown@formal@none@1@S@Rated single-A-1 by Moody's Investors Service Inc. and single-A by Standard & Poor's Corp., the non-callable issue will be sold through underwriters led by Merrill Lynch Capital Markets.@@@@1@28@@oe@2-2-2013
22399006@unknown@formal@none@1@S@Centel Capital Corp. --@@@@1@4@@oe@2-2-2013
22399007@unknown@formal@none@1@S@$150 million of 9% debentures due Oct. 15, 2019, priced at 99.943 to yield 9.008%.@@@@1@15@@oe@2-2-2013
22399008@unknown@formal@none@1@S@The non-callable issue, which can be put back to the company in 1999, was priced at 99 basis points above the Treasury's 10-year note.@@@@1@24@@oe@2-2-2013
22399009@unknown@formal@none@1@S@Rated Baa-1 by Moody's and triple-B-plus by S&P, the issue will be sold through underwriters led by Morgan Stanley & Co.@@@@1@21@@oe@2-2-2013
22399010@unknown@formal@none@1@S@Federal Home Loan Mortgage Corp. --@@@@1@6@@oe@2-2-2013
22399011@unknown@formal@none@1@S@$500 million of Remic mortgage securities offered in 13 classes by Prudential-Bache Securities Inc.@@@@1@14@@oe@2-2-2013
22399012@unknown@formal@none@1@S@The offering, Series 102, backed by Freddie Mac 8 1/2% securities with a weighted average remaining term to maturity of 28.4 years, was priced before the market's afternoon surge.@@@@1@29@@oe@2-2-2013
22399013@unknown@formal@none@1@S@Among classes for which details were available, yields ranged from 8.78%, or 75 basis points over two-year Treasury securities, to 10.05%, or 200 basis points over 10-year Treasurys.@@@@1@28@@oe@2-2-2013
22399014@unknown@formal@none@1@S@Federal Home Loan Mortgage Corp. --@@@@1@6@@oe@2-2-2013
22399015@unknown@formal@none@1@S@$300 million of Remic mortgage securities offered by Citicorp Securities Markets Inc.@@@@1@12@@oe@2-2-2013
22399016@unknown@formal@none@1@S@The offering, Series 101, is backed by Freddie Mac 9 1/2% securities.@@@@1@12@@oe@2-2-2013
22399017@unknown@formal@none@1@S@Pricing details weren't immediately available.@@@@1@5@@oe@2-2-2013
22399018@unknown@formal@none@1@S@Federal Home Loan Mortgage Corp. --@@@@1@6@@oe@2-2-2013
22399019@unknown@formal@none@1@S@$200 million of stripped mortgage securities underwritten by BT Securities Corp.@@@@1@11@@oe@2-2-2013
22399020@unknown@formal@none@1@S@The agency's first strips issue, collateralized by Freddie Mac 8% securities pooled into a single security called a Giant, will be divided into interest-only and principal-only securities.@@@@1@27@@oe@2-2-2013
22399021@unknown@formal@none@1@S@The collateral is being sold by a thrift institution.@@@@1@9@@oe@2-2-2013
22399022@unknown@formal@none@1@S@The principal-only securities will be repackaged by BT Securities into a Freddie Mac Remic, Series 103, that will have six classes.@@@@1@21@@oe@2-2-2013
22399023@unknown@formal@none@1@S@The interest-only securities will be sold separately by BT Securities.@@@@1@10@@oe@2-2-2013
22399024@unknown@formal@none@1@S@The principal-only securities pay the principal from the underlying Freddie Mac 8% securities, while the interest-only securities pay only interest.@@@@1@20@@oe@2-2-2013
22399025@unknown@formal@none@1@S@Freddie Mac said the principal-only securities were priced at 58 1/4 to yield 8.45%, assuming an average life of eight years and a prepayment of 160% of the PSA model.@@@@1@30@@oe@2-2-2013
22399026@unknown@formal@none@1@S@The interest-only securities were priced at 35 1/2 to yield 10.72%.@@@@1@11@@oe@2-2-2013
22399027@unknown@formal@none@1@S@There were no major Eurobond or foreign bond offerings in Europe Friday.@@@@1@12@@oe@2-2-2013