22442007@unknown@formal@none@1@S@Mr. Bowder said the bank will restructure its C$604 million of Mexican debt, of which C$255 million is in Mexican notes secured by U.S. government bonds.@@@@1@26@@oe@2-2-2013
22442008@unknown@formal@none@1@S@The bank has a 45% reserve against the remaining C$349 million of Mexican debt and expects to swap that for other Mexican notes supported by U.S. Treasury zero-coupon bonds.@@@@1@29@@oe@2-2-2013
22442009@unknown@formal@none@1@S@Mr. Bowder said the bank's experience with LDC debt has been "painful" and this latest move represents the final phase of a program begun seven years ago to reduce its exposure through provisioning, debt sales and debt swaps.@@@@1@38@@oe@2-2-2013
22442010@unknown@formal@none@1@S@He said the bank will no longer participate in LDC sovereign lending, but will support trade financing and other transactions that meet the bank's standards.@@@@1@25@@oe@2-2-2013
22443001@unknown@formal@none@1@S@The carnage among takeover stocks Friday doesn't mean the end of mega-mergers but simply marks the start of a less ambitious game, Wall Street's big-time deal makers say.@@@@1@28@@oe@2-2-2013
22443002@unknown@formal@none@1@S@Suitors from now on are more likely to be expansion-minded companies, rather than raiders or debt-happy financiers.@@@@1@17@@oe@2-2-2013
22443003@unknown@formal@none@1@S@And they will be launching lower-priced and perhaps fewer deals, now that it's tougher to finance them.@@@@1@17@@oe@2-2-2013
22443004@unknown@formal@none@1@S@This is an ominous sign for a stock market that lately has been fueled by takeover speculation and bidding wars for companies that put themselves up for sale.@@@@1@28@@oe@2-2-2013
22443005@unknown@formal@none@1@S@Whenever the 1980s merger boom seems to be stalling, shock waves ripple through the stock market.@@@@1@16@@oe@2-2-2013
22443006@unknown@formal@none@1@S@"The market is overvalued, not cheap," says Alan Gaines of the New York money-management firm Gaines Berland.@@@@1@17@@oe@2-2-2013
22443007@unknown@formal@none@1@S@He recently began increasing his cash position to 45% of his portfolio.@@@@1@12@@oe@2-2-2013
22443008@unknown@formal@none@1@S@"I look at where deals can get done," he says, "and they're not getting done" at current prices.@@@@1@18@@oe@2-2-2013
22443009@unknown@formal@none@1@S@Lenders are growing increasingly nervous about debt-financed takeovers, investment bankers say.@@@@1@11@@oe@2-2-2013
22443010@unknown@formal@none@1@S@"You had a week of a deteriorating junk-bond market that ran smack into the news on Friday about what appeared to be happening to the bank debt market," says Steven Rattner, a partner and merger specialist with Lazard Freres & Co.@@@@1@41@@oe@2-2-2013
22443011@unknown@formal@none@1@S@Trading dried up Friday in the market for high-yield junk bonds, often used to finance takeovers.@@@@1@16@@oe@2-2-2013
22443012@unknown@formal@none@1@S@It was the latest in a series of setbacks for the junk bond market, where prices began weakening last month after Campeau hit a cash crunch.@@@@1@26@@oe@2-2-2013
22443013@unknown@formal@none@1@S@And banks appear to be taking an increasingly skeptical view of requests for high-risk takeover loans.@@@@1@16@@oe@2-2-2013
22443014@unknown@formal@none@1@S@The group trying to buy UAL announced Friday that it couldn't arrange the $7.2 billion in bank loans it needs to buy the parent of United Airlines for $300 a share.@@@@1@31@@oe@2-2-2013
22443015@unknown@formal@none@1@S@Takeover-stock traders today will be scrambling to learn of any UAL developments, and other takeover stocks are likely to trade in sympathy.@@@@1@22@@oe@2-2-2013
22443016@unknown@formal@none@1@S@Investment bankers representing the buy-out group and UAL's board spent a frantic weekend trying to hammer out new terms that would be more acceptable to the banks.@@@@1@27@@oe@2-2-2013
22443017@unknown@formal@none@1@S@After UAL, the stock viewed as most vulnerable is American Airlines' parent AMR, the target of a $120-a-share takeover proposal from New York real estate developer Donald Trump.@@@@1@28@@oe@2-2-2013
22443018@unknown@formal@none@1@S@Trading in AMR shares was suspended shortly after 3 p.m. EDT Friday and didn't resume.@@@@1@15@@oe@2-2-2013
22443019@unknown@formal@none@1@S@Before the halt, AMR last traded at 98 5/8.@@@@1@9@@oe@2-2-2013
22443020@unknown@formal@none@1@S@Late Friday night, the London office of Jefferies & Co., a Los Angeles securities firm, traded AMR shares at prices as low as 80.@@@@1@24@@oe@2-2-2013
22443021@unknown@formal@none@1@S@Similarly, Delta Air Lines and USAir Group dropped 10.1% and 8.5%, respectively, on Friday and could weaken further.@@@@1@18@@oe@2-2-2013
22443022@unknown@formal@none@1@S@Over the weeked, however, two developments in other deals indicated that commerical banks and Wall Street firms still are willing to commit billions of dollars to finance takeover bids launched by major companies.@@@@1@33@@oe@2-2-2013
22443023@unknown@formal@none@1@S@Vitro S.A., a major Mexican glass maker, said yesterday that it agreed to buy Anchor Glass Container in a tender offer for $21.25 a share, sweetened from the original $20-a-share offer Vitro launched two months ago.@@@@1@36@@oe@2-2-2013
22443024@unknown@formal@none@1@S@On Friday, Anchor shares fell 1 1/4 to close at 18 1/2.@@@@1@12@@oe@2-2-2013
22443025@unknown@formal@none@1@S@For the broader market, the greatest significance of the Vitro-Anchor deal may be that it was put together late Friday night -- after the market rout -- and involves a $155 million temporary "bridge" loan from Donaldson, Lufkin & Jenrette Securities and a $139 million loan from Security Pacific National Bank.@@@@1@51@@oe@2-2-2013
22443026@unknown@formal@none@1@S@Moreover, to complete the entire Anchor Glass purchase and refinance existing debt, Donaldson said it is "highly confident" that it will be able to sell $400 million of junk bonds for Vitro, despite the current disarray in the junk bond market.@@@@1@41@@oe@2-2-2013
22443027@unknown@formal@none@1@S@Donaldson's statement isn't merely an idle boast, because those bonds will have to be sold before Donaldson's bridge loan can be paid back.@@@@1@23@@oe@2-2-2013
22443028@unknown@formal@none@1@S@Security Pacific, meanwhile, said it expects to arrange $430 million in bank loans for Vitro.@@@@1@15@@oe@2-2-2013
22443029@unknown@formal@none@1@S@In another takeover battle, a spokesman for McCaw Cellular Communications said yesterday that McCaw has been advised by three commercial banks that they remain "highly confident" they can arrange $4.5 billion of bank loans for McCaw's tender offer for about 45% of LIN Broadcasting, "notwithstanding recent events."@@@@1@47@@oe@2-2-2013
22443030@unknown@formal@none@1@S@McCaw is offering $125 a share for 22 million LIN shares, thereby challenging LIN's proposal to spin off its television properties, pay shareholders a $20-a-share special dividend and combine its cellular-telephone operations with BellSouth's cellular business.@@@@1@36@@oe@2-2-2013
22443031@unknown@formal@none@1@S@On Friday, LIN shares were among the few takeover issues that didn't fall much, dropping 5 1/2, or 4.9%, to close at 107 1/2.@@@@1@24@@oe@2-2-2013
22443032@unknown@formal@none@1@S@Traders and investment bankers said LIN shares weren't hurt much because BellSouth is viewed as a well-financed corporate buyer unlikely to be affected by skittishness among bankers or bond buyers.@@@@1@30@@oe@2-2-2013
22443033@unknown@formal@none@1@S@Investment bankers interviewed over the weekend see a silver lining for the merger business in the stock-market drop.@@@@1@18@@oe@2-2-2013
22443034@unknown@formal@none@1@S@Potential bidders for companies "were saying that things were beginning to look expensive," says Mr. Rattner of Lazard.@@@@1@18@@oe@2-2-2013
22443035@unknown@formal@none@1@S@"Nothing makes things look cheaper than a 200-point drop in the Dow," Mr. Rattner says.@@@@1@15@@oe@2-2-2013
22443036@unknown@formal@none@1@S@"Just as there are people waiting to become bargain hunters in the stock market, there are people waiting to become bargain hunters in the deal market."@@@@1@26@@oe@2-2-2013
22443037@unknown@formal@none@1@S@Investment bankers expect most of those bargain hunters to be well-heeled corporations.@@@@1@12@@oe@2-2-2013
22443038@unknown@formal@none@1@S@"In the past, corporate buyers were often discouraged from making bids because of competition from LBO firms, which were often prepared to outbid" the corporations, says J. Tomilson Hill, head of mergers and acquisitions at Shearson Lehman Hutton.@@@@1@38@@oe@2-2-2013
22443039@unknown@formal@none@1@S@Now, "corporate buyers should be willing to re-enter the acquisition market because the competition from junkbond-financed buyers has been reduced."@@@@1@20@@oe@2-2-2013
22443040@unknown@formal@none@1@S@Many takeover stocks plunged Friday, as speculators retained their confidence in corporate buyers but fled from the socalled whisper stocks, the targets of rumored deals.@@@@1@25@@oe@2-2-2013
22443041@unknown@formal@none@1@S@Columbia Pictures Entertainment, which has agreed to a friendly $27-a-share bid from Sony of Japan, fell only 1/8 to close at 26 5/8.@@@@1@23@@oe@2-2-2013
22443042@unknown@formal@none@1@S@But several stocks long rumored to be ripe for a takeover or restructuring fell 10% or more.@@@@1@17@@oe@2-2-2013
22443043@unknown@formal@none@1@S@They include USX, down 11.7%; Upjohn, down 11.1%; Campbell Soup, down 11%; Paramount Communications, off 10.3%; Woolworth, down 10.2%; Delta Air Lines, down 10.1%, and MCA, down 9.7%.@@@@1@28@@oe@2-2-2013
22443044@unknown@formal@none@1@S@The market -- and investment bankers -- are even less sanguine about companies that have had at least one bid, merger agreement or restructuring plan fall through already.@@@@1@28@@oe@2-2-2013
22443045@unknown@formal@none@1@S@Given the weakness in both the junk bond market and the stock market, traders fear that these transactions may be revised yet again.@@@@1@23@@oe@2-2-2013
22443046@unknown@formal@none@1@S@Examples include Kollmorgen, whose agreement to be acquired for $25 a share by Vernitron collapsed last month.@@@@1@17@@oe@2-2-2013
22443047@unknown@formal@none@1@S@Kollmorgen shares fell nearly 20% on Friday to close at 12 7/8.@@@@1@12@@oe@2-2-2013
22443048@unknown@formal@none@1@S@Ramada, which first delayed and then shelved a $400 million junk bond sale that was designed to help finance a restructuring, fell 15.6% to close at 9 1/2.@@@@1@28@@oe@2-2-2013
22443049@unknown@formal@none@1@S@Ramada has said it hopes to propose a new restructuring plan but hasn't indicated when it will do so.@@@@1@19@@oe@2-2-2013
22443050@unknown@formal@none@1@S@Shares of American Medical International, which agreed last week to accept a lower price from a buy-out group that includes First Boston Corp. and the Pritzker family of Chicago, fell 15.8% on Friday to close at 20.@@@@1@37@@oe@2-2-2013
22443051@unknown@formal@none@1@S@The buy-out group is offering $26.50 a share for 63 million American Medical shares, down from its offer in July of $28 a share for 68.8 million shares.@@@@1@28@@oe@2-2-2013
22443052@unknown@formal@none@1@S@But investment bankers say the market may have oversold some takeover-related stocks.@@@@1@12@@oe@2-2-2013
22443053@unknown@formal@none@1@S@Hilton Hotels, for example, was among the worst-hit issues, falling 20.2% to close at 85, down 21 1/2 on Friday.@@@@1@20@@oe@2-2-2013
22443054@unknown@formal@none@1@S@Hilton currently is soliciting bids for a sale of part or all of its hotel and casino businesses.@@@@1@18@@oe@2-2-2013
22443055@unknown@formal@none@1@S@People familiar with Hilton said over the weekend that the depth of the sell-off in Hilton shares was unwarranted because none of the likely buyers would be dependent on junk-bond financing.@@@@1@31@@oe@2-2-2013
22443056@unknown@formal@none@1@S@However, they conceded that some potential bidders would rely on bank loans and would be hurt if the troubles of the UAL buy-out group signified a general unwillingness among banks to provide credit for debt-financed takeovers.@@@@1@36@@oe@2-2-2013
22443057@unknown@formal@none@1@S@Hilton officials said they weren't worried about the drop in the company's stock.@@@@1@13@@oe@2-2-2013
22443058@unknown@formal@none@1@S@William Lebo, Hilton's general counsel, said plans to consider a sale of the company or some of its assets are "on track" for what has been described previously as "a slow and deliberate process."@@@@1@34@@oe@2-2-2013
22443059@unknown@formal@none@1@S@"I can't believe that any potential buyer for Hilton would be affected by one day's trading," Mr. Lebo said.@@@@1@19@@oe@2-2-2013
22443060@unknown@formal@none@1@S@But the stock market as a whole, bolstered as it is by takeover speculation, remains vulnerable to any further pullback by takeover financiers, both in the junkbond market and among commercial banks.@@@@1@32@@oe@2-2-2013
22443061@unknown@formal@none@1@S@For debt-ridden suitors, "the takeover game has been over for some time," says New York money manager Neil Weisman of Chilmark Capital, who has been keeping 85% of his portfolio in cash.@@@@1@32@@oe@2-2-2013
22443062@unknown@formal@none@1@S@"The market is just waking up to that point."@@@@1@9@@oe@2-2-2013
22443063@unknown@formal@none@1@S@Pauline Yoshihashi in Los Angeles contributed to this column.@@@@1@9@@oe@2-2-2013
22444001@unknown@formal@none@1@S@Of all the one-time expenses incurred by a corporation or professional firm, few are larger or longer term than the purchase of real estate or the signing of a commercial lease.@@@@1@31@@oe@2-2-2013
22444002@unknown@formal@none@1@S@To take full advantage of the financial opportunities in this commitment, however, the corporation or professional firm must do more than negotiate the best purchase price or lease terms.@@@@1@29@@oe@2-2-2013
22444003@unknown@formal@none@1@S@It must also evaluate the real-estate market in the chosen location from a new perspective.@@@@1@15@@oe@2-2-2013
22444004@unknown@formal@none@1@S@Specifically, it must understand how real-estate markets overreact to shifts in regional economies and then take advantage of these opportunities.@@@@1@20@@oe@2-2-2013
22444005@unknown@formal@none@1@S@When a regional economy catches cold, the local real-estate market gets pneumonia.@@@@1@12@@oe@2-2-2013
22444006@unknown@formal@none@1@S@In other words, real-estate market indicators, such as building permits and leasing activity, plummet much further than a local economy in recession.@@@@1@22@@oe@2-2-2013
22444007@unknown@formal@none@1@S@This was seen in the late 1960s in Los Angeles and the mid-1970s in New York.@@@@1@16@@oe@2-2-2013
22444008@unknown@formal@none@1@S@But the reverse is also true: When a region's economy rebounds from a slowdown, these real-estate indicators will rebound far faster than the improving economy.@@@@1@25@@oe@2-2-2013
22444009@unknown@formal@none@1@S@Why do local real-estate markets overreact to regional economic cycles?@@@@1@10@@oe@2-2-2013
22444010@unknown@formal@none@1@S@Because real-estate purchases and leases are such major long-term commitments that most companies and individuals make these decisions only when confident of future economic stability and growth.@@@@1@27@@oe@2-2-2013
22444011@unknown@formal@none@1@S@Metropolitan Detroit was written off economically during the early 1980s, as the domestic auto industry suffered a serious sales depression and adjustment.@@@@1@22@@oe@2-2-2013
22444012@unknown@formal@none@1@S@Area employment dropped by 13% from its 1979 peak and retail sales were down 14%.@@@@1@15@@oe@2-2-2013
22444013@unknown@formal@none@1@S@However, the real-estate market was hurt even more.@@@@1@8@@oe@2-2-2013
22444014@unknown@formal@none@1@S@For example, residential building permits in the trough year of 1982 were off 76% from the 1979 peak level.@@@@1@19@@oe@2-2-2013
22444015@unknown@formal@none@1@S@Once metropolitan Detroit's economy rallied in the mid-1980s, real estate rebounded.@@@@1@11@@oe@2-2-2013
22444016@unknown@formal@none@1@S@Building permits, for example, soared a staggering 400% between 1982 and the peak year of 1986.@@@@1@16@@oe@2-2-2013
22444017@unknown@formal@none@1@S@Where, savvy corporations and professional firms are now asking, are today's opportunities?@@@@1@12@@oe@2-2-2013
22444018@unknown@formal@none@1@S@Look no further than metropolitan Houston and Denver, two of the most depressed, overbuilt and potentially undervalued real-estate markets in the nation.@@@@1@22@@oe@2-2-2013
22444019@unknown@formal@none@1@S@Of course, some observers have touted Houston and Denver for the past five years as a counter-cyclical play.@@@@1@18@@oe@2-2-2013
22444020@unknown@formal@none@1@S@But now appears to be the time to act.@@@@1@9@@oe@2-2-2013
22444021@unknown@formal@none@1@S@Metropolitan Houston's economy did drop and then flatten in the years after its 1982 peak.@@@@1@15@@oe@2-2-2013
22444022@unknown@formal@none@1@S@In the mid-1980s, employment was down as much as 5% from the 1982 peak and retail sales were off 13%.@@@@1@20@@oe@2-2-2013
22444023@unknown@formal@none@1@S@The real-estate market suffered even more severe setbacks.@@@@1@8@@oe@2-2-2013
22444024@unknown@formal@none@1@S@Office construction dropped 97%.@@@@1@4@@oe@2-2-2013
22444025@unknown@formal@none@1@S@The vacancy rate soared more than 20% in nearly every product category, and more than 30% of office space was vacant.@@@@1@21@@oe@2-2-2013
22444026@unknown@formal@none@1@S@To some observers, the empty office buildings of Houston's "see-through skyline" were indicative of a very troubled economy.@@@@1@18@@oe@2-2-2013
22444027@unknown@formal@none@1@S@As usual, the real-estate market had overreacted.@@@@1@7@@oe@2-2-2013
22444028@unknown@formal@none@1@S@Actually, the region's economy retained a firm foundation.@@@@1@8@@oe@2-2-2013
22444029@unknown@formal@none@1@S@Metropolitan Houston's population has held steady over the past six years.@@@@1@11@@oe@2-2-2013
22444030@unknown@formal@none@1@S@And personal income, after slumping in the mid-1980s, has returned to its 1982 level in real dollar terms.@@@@1@18@@oe@2-2-2013
22444031@unknown@formal@none@1@S@Today, metropolitan Houston's real-estate market is poised for a significant turnaround.@@@@1@11@@oe@2-2-2013
22444032@unknown@formal@none@1@S@More than 42,000 jobs were added in metro Houston last year, primarily in biotechnology, petrochemical processing, and the computer industry.@@@@1@20@@oe@2-2-2013
22444033@unknown@formal@none@1@S@This growth puts Houston in the top five metro areas in the nation last year.@@@@1@15@@oe@2-2-2013
22444034@unknown@formal@none@1@S@And forecasts project a 2.5% to 3% growth rate in jobs over the next few years -- nearly twice the national average.@@@@1@22@@oe@2-2-2013
22444035@unknown@formal@none@1@S@Denver is another metropolitan area where the commercial real-estate market has overreacted to the region's economic trends, although Denver has not experienced as severe an economic downturn as Houston.@@@@1@29@@oe@2-2-2013
22444036@unknown@formal@none@1@S@By some measures, metropolitan Denver's economy has actually improved in the past four years.@@@@1@14@@oe@2-2-2013
22444037@unknown@formal@none@1@S@Its population has continued to increase since 1983, the peak year of the economic cycle.@@@@1@15@@oe@2-2-2013
22444038@unknown@formal@none@1@S@Employment is now 4% higher than in 1983.@@@@1@8@@oe@2-2-2013
22444039@unknown@formal@none@1@S@Buying income in real dollars actually increased 15% between 1983 and 1987 (the most recent year available).@@@@1@17@@oe@2-2-2013
22444040@unknown@formal@none@1@S@The rates of increase, however, are less than the rapid growth of the boom years, and this has resulted in a loss of confidence in the economy.@@@@1@27@@oe@2-2-2013
22444041@unknown@formal@none@1@S@In a self-fulfilling prophecy, therefore, the region's real-estate market all but collapsed in recent years.@@@@1@15@@oe@2-2-2013
22444042@unknown@formal@none@1@S@Housing building permits are down more than 75% from their 1983 peaks.@@@@1@12@@oe@2-2-2013
22444043@unknown@formal@none@1@S@Although no one can predict when metropolitan Denver's real-estate market will rebound, major public works projects costing several billion dollars are under way or planned -- such as a new convention center, a major beltway encircling the metropolitan area, and a new regional airport.@@@@1@44@@oe@2-2-2013
22444044@unknown@formal@none@1@S@When Denver's regional economy begins to grow faster -- such a recovery could occur as early as next year -- business and consumer confidence will return, and the resulting explosion of real-estate activity will dwarf the general economic rebound.@@@@1@39@@oe@2-2-2013
22444045@unknown@formal@none@1@S@What real-estate strategy should one follow in a metropolitan area whose economic health is not as easy to determine as Houston's or Denver's?@@@@1@23@@oe@2-2-2013
22444046@unknown@formal@none@1@S@Generally, overcapacity in commercial real estate is dropping from its mid-1980s peak, even in such economically healthy metropolitan areas as Washington, New York and Los Angeles.@@@@1@26@@oe@2-2-2013
22444047@unknown@formal@none@1@S@Vacancy rates in the 15% to 19% range today may easily rise to the low to mid-20% range in a couple of years.@@@@1@23@@oe@2-2-2013
22444048@unknown@formal@none@1@S@Under these conditions, even a flattening out of economic growth -- "catching cold" -- in the healthy metropolitan areas will create significant opportunities for corporations and professional service firms looking for bargains as the realestate industry catches pneumonia.@@@@1@38@@oe@2-2-2013
22444049@unknown@formal@none@1@S@Those looking for real-estate bargains in distressed metropolitan areas should lock in leases or buy now; those looking in healthy metropolitan areas should take a short-term (three-year) lease and wait for the bargains ahead.@@@@1@34@@oe@2-2-2013
22444050@unknown@formal@none@1@S@Mr. Leinberger is managing partner of a real-estate advisory firm based in Beverly Hills, Calif.@@@@1@15@@oe@2-2-2013
22445001@unknown@formal@none@1@S@Kysor Industrial Corp. said it expects its third-quarter net earnings to be between two cents and four cents a share, compared with 61 cents a share a year ago.@@@@1@29@@oe@2-2-2013
22445002@unknown@formal@none@1@S@Analysts had been projecting that the company's earnings would be between 25 cents and 30 cents a share.@@@@1@18@@oe@2-2-2013
22445003@unknown@formal@none@1@S@The year-earlier third-quarter earnings amounted to $4.1 million.@@@@1@8@@oe@2-2-2013
22445004@unknown@formal@none@1@S@The company said a drop in activity in the powerboat industry reduced sales volume at its two marine-related operations.@@@@1@19@@oe@2-2-2013
22445005@unknown@formal@none@1@S@Also, the company said its commercial products operation failed to meet forecasts.@@@@1@12@@oe@2-2-2013
22445006@unknown@formal@none@1@S@Kysor, a maker of heavy-duty truck and commercial refrigeration equipment, said it expects its fourth-quarter earnings to be more closely in line with usual levels, which are between 30 cents and 50 cents a share.@@@@1@35@@oe@2-2-2013
22446001@unknown@formal@none@1@S@Common Cause asked both the Senate Ethics Committee and the Justice Department to investigate $1 million in political gifts by Arizona businessman Charles Keating to five U.S. senators who interceded with thrift-industry regulators for him.@@@@1@35@@oe@2-2-2013
22446002@unknown@formal@none@1@S@Mr. Keating is currently the subject of a $1.1 billion federal anti-racketeering lawsuit accusing him of bleeding off assets of a California thrift he controlled, Lincoln Savings & Loan Association, and driving it into insolvency.@@@@1@35@@oe@2-2-2013
22446003@unknown@formal@none@1@S@Fred Wertheimer -- president of Common Cause, the self-styled citizens lobby -- said Mr. Keating already has conceded attempting to buy influence with the lawmakers -- Democratic Sens. Dennis DeConcini of Arizona, Alan Cranston of California, John Glenn of Ohio and Donald Riegle of Michigan; and GOP Sen. John McCain of Arizona.@@@@1@52@@oe@2-2-2013
22446004@unknown@formal@none@1@S@Mr. Wertheimer based this on a statement by Mr. Keating that was quoted in a Wall Street Journal story in April: "One question . . . had to do with whether my financial support in any way influenced several political figures to take up my cause.@@@@1@46@@oe@2-2-2013
22446005@unknown@formal@none@1@S@I want to say in the most forceful way I can: I certainly hope so."@@@@1@15@@oe@2-2-2013
22446006@unknown@formal@none@1@S@In a highly unusual meeting in Sen. DeConcini's office in April 1987, the five senators asked federal regulators to ease up on Lincoln.@@@@1@23@@oe@2-2-2013
22446007@unknown@formal@none@1@S@According to notes taken by one of the participants at the meeting, the regulators said Lincoln was gambling dangerously with depositors' federally insured money and was "a ticking time bomb."@@@@1@30@@oe@2-2-2013
22446008@unknown@formal@none@1@S@Mr. Keating had complained that the regulators were being too zealous.@@@@1@11@@oe@2-2-2013
22446009@unknown@formal@none@1@S@The notes show that Sen. DeConcini called the Federal Home Loan Bank Board's regulations "grossly unfair," and that Sen. Glenn insisted that Mr. Keating's thrift was "viable and profitable."@@@@1@29@@oe@2-2-2013
22446010@unknown@formal@none@1@S@For the next two years, the Bank Board, which at the time was the agency responsible for regulating thrifts, failed to act -- even after federal auditors warned in May 1987 that Mr. Keating had caused Lincoln to become insolvent.@@@@1@40@@oe@2-2-2013
22446011@unknown@formal@none@1@S@Lincoln's parent company, American Continental Corp., entered bankruptcy-law proceedings this April 13, and regulators seized the thrift the next day.@@@@1@20@@oe@2-2-2013
22446012@unknown@formal@none@1@S@The newly formed Resolution Trust Corp., successor to the Bank Board, filed suit against Mr. Keating and several others on Sept. 15.@@@@1@22@@oe@2-2-2013
22446013@unknown@formal@none@1@S@Mr. Keating has filed his own suit, alleging that his property was taken illegally.@@@@1@14@@oe@2-2-2013
22446014@unknown@formal@none@1@S@The cost to taxpayers of Lincoln's collapse has been estimated at as much as $2.5 billion.@@@@1@16@@oe@2-2-2013
22446015@unknown@formal@none@1@S@Details of the affair have become public gradually over the past two years, mostly as a result of reporting by several newspapers.@@@@1@22@@oe@2-2-2013
22446016@unknown@formal@none@1@S@In the midst of his 1988 re-election campaign, Sen. Riegle, chairman of the Senate Banking Committee, returned $76,000 in contributions after a Detroit newspaper said that Mr. Keating had gathered the money for him about two weeks before the meeting with regulators.@@@@1@42@@oe@2-2-2013
22446017@unknown@formal@none@1@S@Sen. DeConcini, after months of fending off intense press criticism, returned $48,000 only last month, shortly after the government formally accused Mr. Keating of defrauding Lincoln.@@@@1@26@@oe@2-2-2013
22446018@unknown@formal@none@1@S@In addition, Sen. McCain last week disclosed that he belatedly had paid $13,433 to American Continental as reimbursement for trips he and his family took aboard the corporate jet to Mr. Keating's vacation home at Cat Cay, the Bahamas, from 1984 through 1986.@@@@1@43@@oe@2-2-2013
22446019@unknown@formal@none@1@S@Sen. McCain said he had meant to pay for the trips at the time but that the matter "fell between the cracks."@@@@1@22@@oe@2-2-2013
22446020@unknown@formal@none@1@S@Mr. Keating, his family members and associates also donated $112,000 to Sen. McCain's congressional campaigns over the years, according to press accounts.@@@@1@22@@oe@2-2-2013
22446021@unknown@formal@none@1@S@But Sen. McCain says Mr. Keating broke off their friendship abruptly in 1987, because the senator refused to press the thrift executive's case as vigorously as Mr. Keating wanted.@@@@1@29@@oe@2-2-2013
22446022@unknown@formal@none@1@S@"He became very angry at that, left my office and told a number of people that I was a wimp," Sen. McCain recalls.@@@@1@23@@oe@2-2-2013
22446023@unknown@formal@none@1@S@In July, California newspapers disclosed that Mr. Keating gave $850,000 in corporate funds to three tax-exempt voter registration organizations in 1987 and 1988 at the behest of Sen. Cranston, who conceded that soliciting the money was "a pretty stupid thing to do politically."@@@@1@43@@oe@2-2-2013
22446024@unknown@formal@none@1@S@In addition, Sen. Cranston received $47,000 in campaign donations through Mr. Keating, and the California Democratic party received $85,000 in corporate donations for a 1986 get-out-the-vote drive that benefited the senator's re-election campaign that year.@@@@1@35@@oe@2-2-2013
22446025@unknown@formal@none@1@S@Also in July, Ohio newspapers disclosed $200,000 in corporate donations by Mr. Keating to the National Council on Public Policy, a political committee controlled by Sen. Glenn.@@@@1@27@@oe@2-2-2013
22446026@unknown@formal@none@1@S@That was in addition to $34,000 in direct campaign donations arranged by Mr. Keating to the Ohio senator.@@@@1@18@@oe@2-2-2013
22446027@unknown@formal@none@1@S@Mr. Wertheimer said the Senate Ethics Committee should hire a special outside counsel to conduct an investigation, as was done in the case of former House Speaker James Wright.@@@@1@29@@oe@2-2-2013
22446028@unknown@formal@none@1@S@Wilson Abney, staff director of the ethics panel, wouldn't comment.@@@@1@10@@oe@2-2-2013
22446029@unknown@formal@none@1@S@Sen. Riegle said he would cooperate with any inquiry, but that his conduct had been "entirely proper."@@@@1@17@@oe@2-2-2013
22446030@unknown@formal@none@1@S@Sen. McCain said he had been "deeply concerned" at the time of the meeting that it might seem to be improper, but decided it was "entirely appropriate" for him to seek fair treatment for a constituent.@@@@1@36@@oe@2-2-2013
22446031@unknown@formal@none@1@S@Sen. Glenn said he had already made a complete disclosure of his role in the affair and "I am completely satisfied to let this matter rest in the hands of the Senate Ethics Committee."@@@@1@34@@oe@2-2-2013
22446032@unknown@formal@none@1@S@Sen. DeConcini said, "When all is said and done, I expect to be fully exonerated."@@@@1@15@@oe@2-2-2013
22446033@unknown@formal@none@1@S@Sen. Cranston, who had already volunteered his help to the Federal Bureau of Investigation in any investigation of Mr. Keating, portrayed his role in 1987 as prodding regulators to act.@@@@1@30@@oe@2-2-2013
22446034@unknown@formal@none@1@S@"Why didn't the Bank Board act sooner?" he said.@@@@1@9@@oe@2-2-2013
22446035@unknown@formal@none@1@S@"That is what Common Cause should ask be investigated.@@@@1@9@@oe@2-2-2013
22447001@unknown@formal@none@1@S@Trinity Industries Inc. said it reached a preliminary agreement to manufacture 1,000 coal rail cars for Norfolk Southern Corp.@@@@1@19@@oe@2-2-2013
22447002@unknown@formal@none@1@S@Trinity estimated the value of the pact at more than $40 million.@@@@1@12@@oe@2-2-2013
22447003@unknown@formal@none@1@S@Trinity said it plans to begin delivery of the rail cars in the first quarter of 1990.@@@@1@17@@oe@2-2-2013
22447004@unknown@formal@none@1@S@It said the 1,000 rail cars are in addition to the 1,450 coal rail cars presently being produced for Norfolk Southern, a Norfolk, Va.-based railroad concern.@@@@1@26@@oe@2-2-2013
22448001@unknown@formal@none@1@S@When China opened its doors to foreign investors in 1979, toy makers from Hong Kong were among the first to march in.@@@@1@22@@oe@2-2-2013
22448002@unknown@formal@none@1@S@Today, with about 75% of the companies' products being made in China, the chairman of the Hong Kong Toys Council, Dennis Ting, has suggested a new sourcing label: "Made in China by Hong Kong Companies."@@@@1@35@@oe@2-2-2013
22448003@unknown@formal@none@1@S@The toy makers were pushed across the border by rising labor and land costs in the British colony.@@@@1@18@@oe@2-2-2013
22448004@unknown@formal@none@1@S@But in the wake of the shootings in Beijing on June 4, the Hong Kong toy industry is worrying about its strong dependence on China.@@@@1@25@@oe@2-2-2013
22448005@unknown@formal@none@1@S@Although the manufacturers stress that production hasn't been affected by China's political turmoil, they are looking for additional sites.@@@@1@19@@oe@2-2-2013
22448006@unknown@formal@none@1@S@The toy makers, and their foreign buyers, cite uncertainty about China's economic and political policies.@@@@1@15@@oe@2-2-2013
22448007@unknown@formal@none@1@S@"Nobody wants to have all his eggs in one basket," says David Yeh, chairman and chief executive officer of International Matchbox Group Ltd.@@@@1@23@@oe@2-2-2013
22448008@unknown@formal@none@1@S@Indeed, Matchbox and other leading Hong Kong toy makers were setting up factories in Southeast Asia, especially in Thailand, long before the massacre.@@@@1@23@@oe@2-2-2013
22448009@unknown@formal@none@1@S@Their steps were partly prompted by concern over a deterioration of business conditions in southern China.@@@@1@16@@oe@2-2-2013
22448010@unknown@formal@none@1@S@By diversifying supply sources, the toy makers don't intend to withdraw from China, manufacturers and foreign buyers say.@@@@1@18@@oe@2-2-2013
22448011@unknown@formal@none@1@S@It wouldn't be easy to duplicate quickly the manufacturing capacity built up in southern China during the past decade.@@@@1@19@@oe@2-2-2013
22448012@unknown@formal@none@1@S@A supply of cheap labor and the access to Hong Kong's port, airport, banks and support industries, such as printing companies, have made China's Guangdong province a premier manufacturing site.@@@@1@30@@oe@2-2-2013
22448013@unknown@formal@none@1@S@"South China is the most competitive source of toys in the world," says Henry Hu, executive director of Wah Shing Toys Consolidated Ltd.@@@@1@23@@oe@2-2-2013
22448014@unknown@formal@none@1@S@Hong Kong trade figures illustrate the toy makers' reliance on factories across the border.@@@@1@14@@oe@2-2-2013
22448015@unknown@formal@none@1@S@In 1988, exports of domestically produced toys and games fell 19% from 1987, to HK$10.05 billion (US$1.29 billion).@@@@1@18@@oe@2-2-2013
22448016@unknown@formal@none@1@S@But re-exports, mainly from China, jumped 75%, to HK$15.92 billion.@@@@1@10@@oe@2-2-2013
22448017@unknown@formal@none@1@S@In 1989's first seven months, domestic exports fell 29%, to HK$3.87 billion, while re-exports rose 56%, to HK$11.28 billion.@@@@1@19@@oe@2-2-2013
22448018@unknown@formal@none@1@S@Manufacturers say there is no immediate substitute for southern China, where an estimated 120,000 people are employed by the toy industry.@@@@1@21@@oe@2-2-2013
22448019@unknown@formal@none@1@S@"For the next few years, like it or not, China is going to be the main supplier," says Edmund Young, vice president of Perfecta Enterprises Ltd., one of the first big Hong Kong toy makers to move across the border.@@@@1@40@@oe@2-2-2013
22448020@unknown@formal@none@1@S@In the meantime, as manufacturers and buyers seek new sites, they are focusing mainly on Southeast Asia.@@@@1@17@@oe@2-2-2013
22448021@unknown@formal@none@1@S@Several big companies have established manufacturing joint ventures in Thailand, including Matchbox, Wah Shing and Kader Industrial Co., the toy manufacturer headed by Mr. Ting.@@@@1@25@@oe@2-2-2013
22448022@unknown@formal@none@1@S@Malaysia, the Philippines and Indonesia also are being studied.@@@@1@9@@oe@2-2-2013
22448023@unknown@formal@none@1@S@With the European Community set to remove its internal trade barriers in 1992, several Hong Kong companies are beginning to consider Spain, Portugal and Greece as possible manufacturing sites.@@@@1@29@@oe@2-2-2013
22448024@unknown@formal@none@1@S@Worries about China came just as Hong Kong's toy industry was recovering from a 1987 sales slump and bankruptcy filings by two major U.S. companies, Worlds of Wonder Inc. and Coleco Industries Inc.@@@@1@33@@oe@2-2-2013
22448025@unknown@formal@none@1@S@Hong Kong manufacturers say large debt writeoffs and other financial problems resulting from the 1987 difficulties chastened the local industry, causing it to tighten credit policies and financial management.@@@@1@29@@oe@2-2-2013
22448026@unknown@formal@none@1@S@The industry regards last year and this year as a period of recovery that will lead to improved results.@@@@1@19@@oe@2-2-2013
22448027@unknown@formal@none@1@S@Still, they long for a "mega-hit" toy to excite retail sales in the U.S., Hong Kong's biggest market for toys and games.@@@@1@22@@oe@2-2-2013
22448028@unknown@formal@none@1@S@The closest thing the colony's companies have to a U.S. mega-hit this year is the Teenage Mutant Ninja Turtles series of action figures manufactured by Playmates Holdings Ltd.@@@@1@28@@oe@2-2-2013
22448029@unknown@formal@none@1@S@Introduced in mid-1988, the 15-centimeter-tall plastic turtles are based on an American comic book and television series.@@@@1@17@@oe@2-2-2013
22448030@unknown@formal@none@1@S@Paul Kwan, managing director of Playmates, says 10 million Ninja Turtles have been sold, placing the reptilian warriors among the 10 biggest-selling toys in the U.S.@@@@1@26@@oe@2-2-2013
22448031@unknown@formal@none@1@S@Should sales continue to be strong through the Christmas season, which accounts for about 60% of U.S. retail toy sales, Mr. Kwan said the Ninja Turtles could make 1989 a record sales year for Playmates.@@@@1@35@@oe@2-2-2013
22448032@unknown@formal@none@1@S@Other Hong Kong manufacturers expect their results to improve only slightly this year from 1988.@@@@1@15@@oe@2-2-2013
22448033@unknown@formal@none@1@S@Besides the lack of a fast-selling product, they cite the continued dominance of the U.S. market by Nintendo Entertainment System, an expensive video game made by Nintendo Co. of Japan.@@@@1@30@@oe@2-2-2013
22448034@unknown@formal@none@1@S@Nintendo buyers have little money left to spend on other products.@@@@1@11@@oe@2-2-2013
22448035@unknown@formal@none@1@S@Many of the toy makers' problems started well before June 4 as a result of overstrained infrastructure and Beijing's austerity programs launched late last year.@@@@1@25@@oe@2-2-2013
22448036@unknown@formal@none@1@S@Toy makers complain that electricity in Guangdong has been provided only three days a week in recent months, down from five days a week, as the province's rapid industrialization has outstripped its generating capacity.@@@@1@34@@oe@2-2-2013
22448037@unknown@formal@none@1@S@Manufacturers are upgrading standby power plants.@@@@1@6@@oe@2-2-2013
22448038@unknown@formal@none@1@S@Bank credit for China investments all but dried up following June 4.@@@@1@12@@oe@2-2-2013
22448039@unknown@formal@none@1@S@Also, concern exists that the harder-line Beijing leadership will tighten its control of Guangdong, which has been the main laboratory for the open-door policy and economic reforms.@@@@1@27@@oe@2-2-2013
22448040@unknown@formal@none@1@S@But, toy manufacturers and other industrialists say Beijing will be restrained from tightening controls on export-oriented southern China.@@@@1@18@@oe@2-2-2013
22448041@unknown@formal@none@1@S@They say China's trade deficit is widening and the country is too short of foreign exchange for it to hamper production in Guangdong.@@@@1@23@@oe@2-2-2013
22448042@unknown@formal@none@1@S@"The Chinese leaders have to decide whether they want control or whether the want exports," says Mr. Kwan of Playmates.@@@@1@20@@oe@2-2-2013
22449001@unknown@formal@none@1@S@The Bush administration, urging the Supreme Court to give states more leeway to restrict abortions, said minors haven't any right to abortion without the consent of their parents.@@@@1@28@@oe@2-2-2013
22449002@unknown@formal@none@1@S@Solicitor General Kenneth Starr argued that the 1973 Supreme Court decision, Roe vs. Wade, recognizing a constitutional right to abortion, was incorrect.@@@@1@22@@oe@2-2-2013
22449003@unknown@formal@none@1@S@He also argued that the high court was wrong in 1976 to rule that minors have a right to abortion that can't be absolutely vetoed by their parents.@@@@1@28@@oe@2-2-2013
22449004@unknown@formal@none@1@S@The administration's position was outlined in a friend-of-the-court brief filed in one of three abortion cases the Supreme Court will hear argued and will decide this term.@@@@1@27@@oe@2-2-2013
22449005@unknown@formal@none@1@S@The administration filed the brief in an appeal involving a Minnesota law that requires that both parents of a minor be notified before she may have an abortion.@@@@1@28@@oe@2-2-2013
22449006@unknown@formal@none@1@S@The administration urged the justices to adopt a legal standard suggested by Chief Justice William Rehnquist last July when the high court upheld Missouri's abortion restrictions.@@@@1@26@@oe@2-2-2013
22449007@unknown@formal@none@1@S@Under that standard, which garnered the votes of only three of the nine justices, a state restriction of abortion is constitutional if the state has a "reasonable" justification for adopting it.@@@@1@31@@oe@2-2-2013
22449008@unknown@formal@none@1@S@That is a much easier standard for a state to satisfy than the Supreme Court's test since 1973, which requires a state to have a "compelling" reason for restricting abortion.@@@@1@30@@oe@2-2-2013
22449009@unknown@formal@none@1@S@On the provisions of the Minnesota law, the Bush administration said that requiring that both parents be notified is a reasonable regulation, and that there is no need to have an alternative that allows minors to go to court for a judge's permission instead.@@@@1@44@@oe@2-2-2013
22449010@unknown@formal@none@1@S@The case, Hodgson vs. Minnesota, will be argued Nov. 29.@@@@1@10@@oe@2-2-2013
22450001@unknown@formal@none@1@S@Aluminum Co. of America, hit hard by the strength of the dollar overseas, said net income for the third quarter dropped 3.2% to $219 million, or $2.46 a share.@@@@1@29@@oe@2-2-2013
22450002@unknown@formal@none@1@S@The nation's No. 1 aluminum maker earned $226.3 million, or $2.56 a share, a year earlier.@@@@1@16@@oe@2-2-2013
22450003@unknown@formal@none@1@S@Revenue rose 11% to $2.83 billion from $2.56 billion.@@@@1@9@@oe@2-2-2013
22450004@unknown@formal@none@1@S@Analysts, who were expecting Alcoa to post around $2.70 to $3 a share, were surprised at the lackluster third-quarter results.@@@@1@20@@oe@2-2-2013
22450005@unknown@formal@none@1@S@"It's disappointing," said William Siedenburg, an analyst with Smith Barney, Harris Upham & Co.@@@@1@14@@oe@2-2-2013
22450006@unknown@formal@none@1@S@Much of the earnings decline was led by currency-exchange rate adjustments, which affected the bottom line by $15.3 million, or 17 cents a share, compared with $3.6 million, or four cents a share, the previous year.@@@@1@36@@oe@2-2-2013
22450007@unknown@formal@none@1@S@Lower prices for aluminum ingots and certain alloy products and a shift in the product mix also contributed to lower earnings, the company said.@@@@1@24@@oe@2-2-2013
22450008@unknown@formal@none@1@S@"In addition, costs were higher partly due to scheduled plant outages for modernization work," the company said.@@@@1@17@@oe@2-2-2013
22450009@unknown@formal@none@1@S@Excluding the higher tax rate, which rose two percentage points to 38%, and the negative exchange rate adjustment, the company would have met analysts' expectations, said R. Wayne Atwell, an analyst with Goldman, Sachs & Co.@@@@1@36@@oe@2-2-2013
22450010@unknown@formal@none@1@S@Noting that the third quarter is usually the aluminum industry's slowest, Mr. Atwell added, "the third quarter is never a bang up period for them anyway."@@@@1@26@@oe@2-2-2013
22450011@unknown@formal@none@1@S@Nevertheless, the company said shipments were up slightly to 679,000 metric tons from 671,000, buffing the impact of the unexpected earning decline.@@@@1@22@@oe@2-2-2013
22450012@unknown@formal@none@1@S@The results were announced after the stock market closed.@@@@1@9@@oe@2-2-2013
22450013@unknown@formal@none@1@S@In New York Stock Exchange composite trading Friday, Alcoa closed at $72 a share, down $4.75, in a sharply lower market.@@@@1@21@@oe@2-2-2013
22451001@unknown@formal@none@1@S@For 20 years, federal rules have barred the three major television networks from sharing in one of the most lucrative and fastest-growing parts of the television business.@@@@1@27@@oe@2-2-2013
22451002@unknown@formal@none@1@S@And for six years, NBC, ABC and CBS have negotiated with Hollywood studios in a futile attempt to change that.@@@@1@20@@oe@2-2-2013
22451003@unknown@formal@none@1@S@But with foreign companies snapping up U.S. movie studios, the networks are pressing their fight harder than ever.@@@@1@18@@oe@2-2-2013
22451004@unknown@formal@none@1@S@They hope the foreign deals will divide the Hollywood opposition and prod Congress to push for ending federal rules that prohibit the networks from grabbing a piece of rerun sales and owning part of the shows they put on the air.@@@@1@41@@oe@2-2-2013
22451005@unknown@formal@none@1@S@Even network executives, however, admit privately that victory -- either in Congress or in talks with the studios -- is highly doubtful any time soon.@@@@1@25@@oe@2-2-2013
22451006@unknown@formal@none@1@S@And so the networks also are pushing for new ways to sidestep the "fin-syn" provisions, known formally as the Financial Interest and Syndication Rules.@@@@1@24@@oe@2-2-2013
22451007@unknown@formal@none@1@S@That became clear last week with the disclosure that National Broadcasting Co., backed by the deep pockets of parent General Electric Co., had tried to help fund Qintex Australia Ltd.'s now-scuttled $1.5 billion bid for MGM/UA Communications Co.@@@@1@38@@oe@2-2-2013
22451008@unknown@formal@none@1@S@NBC's interest may revive the deal, which MGM/UA killed last week when the Australian concern had trouble raising cash.@@@@1@19@@oe@2-2-2013
22451009@unknown@formal@none@1@S@Even if that deal isn't revived, NBC hopes to find another.@@@@1@11@@oe@2-2-2013
22451010@unknown@formal@none@1@S@"Our doors are open," an NBC spokesman says.@@@@1@8@@oe@2-2-2013
22451011@unknown@formal@none@1@S@NBC may yet find a way to take a passive, minority interest in a program-maker without violating the rules.@@@@1@19@@oe@2-2-2013
22451012@unknown@formal@none@1@S@And any NBC effort could prompt CBS Inc. and ABC's parent, Capital Cities/ABC Inc., to look for ways of skirting the fin-syn regulations.@@@@1@23@@oe@2-2-2013
22451013@unknown@formal@none@1@S@But the networks' push may only aggravate an increasingly bitter rift between them and Hollywood studios.@@@@1@16@@oe@2-2-2013
22451014@unknown@formal@none@1@S@Both sides are to sit down next month for yet another meeting on how they might agree on reducing fin-syn restraints.@@@@1@21@@oe@2-2-2013
22451015@unknown@formal@none@1@S@Few people privy to the talks expect the studios to budge.@@@@1@11@@oe@2-2-2013
22451016@unknown@formal@none@1@S@The networks still are "uninhibited in their authority" over what shows get on the air, charges Motion Picture Association President Jack Valenti, the most vociferous opponent of rescinding the rules.@@@@1@30@@oe@2-2-2013
22451017@unknown@formal@none@1@S@Studios are "powerless" to get shows in prime-time lineups and keep them there long enough to go into lucrative rerun sales, he contends.@@@@1@23@@oe@2-2-2013
22451018@unknown@formal@none@1@S@And that's why the rules, for the most part, must stay in place, he says.@@@@1@15@@oe@2-2-2013
22451019@unknown@formal@none@1@S@Studio executives in on the talks-including officials at Paramount Communications Inc., Fries Entertainment Inc., Warner Communications Inc. and MCA Inc. -- declined to be interviewed.@@@@1@25@@oe@2-2-2013
22451020@unknown@formal@none@1@S@But Mr. Valenti, who represents the studios, asserts: "The whole production industry, to a man, is on the side of preserving" the rules.@@@@1@23@@oe@2-2-2013
22451021@unknown@formal@none@1@S@Such proclamations leave network officials all the more doubtful that the studios will bend.@@@@1@14@@oe@2-2-2013
22451022@unknown@formal@none@1@S@"They don't seem to have an incentive to negotiate," says one network executive.@@@@1@13@@oe@2-2-2013
22451023@unknown@formal@none@1@S@"And there's no indication that Washington is prepared to address the rules.@@@@1@12@@oe@2-2-2013
22451024@unknown@formal@none@1@S@That's the problem, isn't it?"@@@@1@5@@oe@2-2-2013
22451025@unknown@formal@none@1@S@Indeed it is.@@@@1@3@@oe@2-2-2013
22451026@unknown@formal@none@1@S@Congress has said repeatedly it wants no part of the mess, urging the studios and the networks, which license rights to air shows made by the studios, to work out their own compromise.@@@@1@33@@oe@2-2-2013
22451027@unknown@formal@none@1@S@But recent developments have made the networks -- and NBC President Robert Wright, in particular -- ever more adamant that the networks must be unshackled to survive.@@@@1@27@@oe@2-2-2013
22451028@unknown@formal@none@1@S@The latest provocation: Sony Corp.'s plan to acquire Columbia Pictures Entertainment Inc. for $3.4 billion, and to buy independent producer Guber Peters Entertainment Co. for $200 million.@@@@1@27@@oe@2-2-2013
22451029@unknown@formal@none@1@S@"I wonder what Walter Cronkite will think of the Sony/Columbia Broadcast System Trinitron Evening News with Dan Rather broadcast exclusively from Tokyo," wrote J.B. Holston, an NBC vice president, in a commentary in last week's issue of Broadcasting magazine.@@@@1@39@@oe@2-2-2013
22451030@unknown@formal@none@1@S@In his article, Mr. Holston, who was in Europe last week and unavailable, complained that the "archaic restraints" in fin-syn rules have "contributed directly to the acquisition of the studios by non-U.S. enterprises.@@@@1@33@@oe@2-2-2013
22451031@unknown@formal@none@1@S@" (He didn't mention that NBC, in the meantime, was hoping to assist Australia's Qintex in buying@@@@1@17@@oe@2-2-2013
22451032@unknown@formal@none@1@S@An NBC spokesman counters that Mr. Holston's lament was "entirely consistent" with NBC plans because the U.S. rules would limit NBC's involvement in the Qintex deal so severely as to be "light years away from the type of unrestrained deals available to Sony -- and everyone else except the three networks."@@@@1@51@@oe@2-2-2013
22451033@unknown@formal@none@1@S@The Big Three's drumbeat for deregulation began intensifying in the summer when the former Time Inc. went ahead with plans to acquire Warner.@@@@1@23@@oe@2-2-2013
22451034@unknown@formal@none@1@S@Although Time already had a long-term contract to buy movies from Warner, the merger will let Time's largely unregulated pay-cable channel, Home Box Office, own the Warner movies aired on HBO -- a vertical integration that is effectively blocked by fin-syn regulations.@@@@1@42@@oe@2-2-2013
22451035@unknown@formal@none@1@S@NBC's Mr. Wright led the way in decrying the networks' inability to match a Time-Warner combination.@@@@1@16@@oe@2-2-2013
22451036@unknown@formal@none@1@S@He spoke up again when the Sony bid for Columbia was announced.@@@@1@12@@oe@2-2-2013
22451037@unknown@formal@none@1@S@Since NBC's interest in the Qintex bid for MGM/UA was disclosed, Mr. Wright hasn't been available for comment.@@@@1@18@@oe@2-2-2013
22451038@unknown@formal@none@1@S@With a Qintex deal, NBC would move into uncharted territory -- possibly raising hackles at the studios and in Washington.@@@@1@20@@oe@2-2-2013
22451039@unknown@formal@none@1@S@"It's never really been tested," says William Lilley III, who as a top CBS executive spent years lobbying to have the rules lifted.@@@@1@23@@oe@2-2-2013
22451040@unknown@formal@none@1@S@He now runs Policy Communications in Washington, consulting to media companies.@@@@1@11@@oe@2-2-2013
22451041@unknown@formal@none@1@S@Fin-syn rules don't explicitly block a network from buying a passive, small stake in a company that profits from the rerun syndication networks can't enjoy.@@@@1@25@@oe@2-2-2013
22451042@unknown@formal@none@1@S@Hence, NBC might be able to take, say, a 5% stake in a company such as MGM/UA.@@@@1@17@@oe@2-2-2013
22451043@unknown@formal@none@1@S@If the transaction raised objections, the studio's syndication operations could be spun off into a separate firm in which the network doesn't have a direct stake.@@@@1@26@@oe@2-2-2013
22451044@unknown@formal@none@1@S@But such convolutions would still block the networks from grabbing a big chunk of the riches of syndication.@@@@1@18@@oe@2-2-2013
22451045@unknown@formal@none@1@S@Under current rules, even when a network fares well with a 100%-owned series -- ABC, for example, made a killing in broadcasting its popular crime/comedy "Moonlighting" -- it isn't allowed to share in the continuing proceeds when the reruns are sold to local stations.@@@@1@44@@oe@2-2-2013
22451046@unknown@formal@none@1@S@Instead, ABC will have to sell off the rights for a one-time fee.@@@@1@13@@oe@2-2-2013
22451047@unknown@formal@none@1@S@The networks admit that the chances of getting the relief they want are slim -- for several years at the least.@@@@1@21@@oe@2-2-2013
22451048@unknown@formal@none@1@S@Six years ago they were tantalizingly close.@@@@1@7@@oe@2-2-2013
22451049@unknown@formal@none@1@S@The Reagan-era Federal Communications Commission had ruled in favor of killing most of the rules.@@@@1@15@@oe@2-2-2013
22451050@unknown@formal@none@1@S@Various evidence, including a Brookings Institution study of some 800 series that the networks had aired and had partly owned in the 1960s, showed the networks didn't wield undue control over the studios as had been alleged.@@@@1@37@@oe@2-2-2013
22451051@unknown@formal@none@1@S@But just eight days before the rules were to die, former President Ronald Reagan, a one-time actor, intervened on behalf of Hollywood.@@@@1@22@@oe@2-2-2013
22451052@unknown@formal@none@1@S@The FCC effort collapsed.@@@@1@4@@oe@2-2-2013
22451053@unknown@formal@none@1@S@The networks and studios have bickered ever since.@@@@1@8@@oe@2-2-2013
22451054@unknown@formal@none@1@S@Network officials involved in the studio talks may hope the foreign influx builds more support in Washington, but that seems unlikely.@@@@1@21@@oe@2-2-2013
22451055@unknown@formal@none@1@S@In Congress, the issue falters: It's about money, not program quality, and Hollywood has lots of clout given its fund raising for senators and representatives overseeing the issue.@@@@1@28@@oe@2-2-2013
22451056@unknown@formal@none@1@S@A spokesman for Rep. Edward J. Markey (D-Mass.), who heads a subcommittee that oversees the FCC, says Mr. Markey feels "the world has been forever changed by the Sony-Columbia deal."@@@@1@30@@oe@2-2-2013
22451057@unknown@formal@none@1@S@But he said Mr. Markey hopes this pushes the networks and studios to work it out on their own.@@@@1@19@@oe@2-2-2013
22451058@unknown@formal@none@1@S@And at the FCC, meanwhile, new Chairman Alfred C. Sikes has said he wants the two sides to hammer out their own plan.@@@@1@23@@oe@2-2-2013
22452001@unknown@formal@none@1@S@Recognition Equipment Inc. said it settled a civil action filed against it by the federal government on behalf of the U.S. Postal Service.@@@@1@23@@oe@2-2-2013
22452002@unknown@formal@none@1@S@The government sued the company in April, seeking $23,000 and other unspecified damages related to an alleged contract-steering scheme.@@@@1@19@@oe@2-2-2013
22452003@unknown@formal@none@1@S@The suit named the company, former chief executive officer William G. Moore Jr., former vice president Robert W. Reedy and five defendants who weren't part of the company.@@@@1@28@@oe@2-2-2013
22452004@unknown@formal@none@1@S@The suit charged the defendants with causing Peter E. Voss, an ex-member of the Postal Service board of governors, to accept $23,000 in bribes, kickbacks and gratuities.@@@@1@27@@oe@2-2-2013
22452005@unknown@formal@none@1@S@Mr. Voss was previously sentenced to four years in prison and fined $11,000 for his role in the scheme.@@@@1@19@@oe@2-2-2013
22452006@unknown@formal@none@1@S@In the agreement, Recognition agreed to pay the government $20,000 in return for the release of all claims against the company, Mr. Moore and Mr. Reedy.@@@@1@26@@oe@2-2-2013
22452007@unknown@formal@none@1@S@The five additional defendants weren't parties to the settlement.@@@@1@9@@oe@2-2-2013
22452008@unknown@formal@none@1@S@A trial on criminal allegations against the company and the same two former executives began Sept. 27 in federal court for the District of Columbia.@@@@1@25@@oe@2-2-2013
22452009@unknown@formal@none@1@S@They were indicted last October on charges of fraud, theft and conspiracy related to an effort to win $400 million in Postal Service equipment contracts by the maker of data management equipment.@@@@1@32@@oe@2-2-2013
22452010@unknown@formal@none@1@S@The company and its executives deny the charges.@@@@1@8@@oe@2-2-2013
22452011@unknown@formal@none@1@S@In a related development, Recognition Equipment said the Postal Service has barred the company from bidding on postal contracts for an additional 120 days.@@@@1@24@@oe@2-2-2013
22452012@unknown@formal@none@1@S@The Postal Service originally suspended the company Oct. 7, 1988, and has been renewing the ban ever since.@@@@1@18@@oe@2-2-2013
22452013@unknown@formal@none@1@S@The company said it will continue to pursue a lifting of the suspension.@@@@1@13@@oe@2-2-2013
22453001@unknown@formal@none@1@S@Intel Corp. reported a 50% drop in third-quarter net income, partly because of a one-time charge for discontinued operations.@@@@1@19@@oe@2-2-2013
22453002@unknown@formal@none@1@S@The big semiconductor and computer maker, said it had net of $72 million, or 38 cents, down 50% from $142.7 million, or 78 cents a share.@@@@1@26@@oe@2-2-2013
22453003@unknown@formal@none@1@S@The lower net included a charge of $35 million, equal to 12 cents a share on an after-tax basis, for the cost of abandoning a computer-systems joint venture with Siemens AG of West Germany.@@@@1@34@@oe@2-2-2013
22453004@unknown@formal@none@1@S@Earning also fell from the year-ago period because of slowing microchip demand.@@@@1@12@@oe@2-2-2013
22453005@unknown@formal@none@1@S@Sales amounted to $771.4 million, down 1.7% from $784.9 million.@@@@1@10@@oe@2-2-2013
22453006@unknown@formal@none@1@S@Intel's stock rose in early over-the-counter trading Friday, as investors appeared relieved that the company's income from continuing operations was only slightly below the second quarter's earnings of $99.3 million, or 53 cents a share, and that sales actually exceeded the $747.3 million for the second period.@@@@1@47@@oe@2-2-2013
22453007@unknown@formal@none@1@S@But Intel later succumbed to the stock market's plunge, closing at $31.75, down $2.125.@@@@1@14@@oe@2-2-2013
22453008@unknown@formal@none@1@S@In August, Intel warned that third-quarter earnings might be "flat to down" from the previous period's because of slowing sales growth of its 80386 microprocessor, start-up costs associated with a line of computers and costs of preparing for mass shipments of the company's new 80486 chip in the current quarter.@@@@1@50@@oe@2-2-2013
22453009@unknown@formal@none@1@S@On Friday, Andrew S.Grove, Intel president and chief executive officer, said "Intel's business is strong.@@@@1@15@@oe@2-2-2013
22453010@unknown@formal@none@1@S@Our bookings improved as the quarter progressed and September was especially good.@@@@1@12@@oe@2-2-2013
22453011@unknown@formal@none@1@S@For the full quarter, our bookings were higher than the previous quarter, and our book-to-bill ratio exceeded 1.0."@@@@1@18@@oe@2-2-2013
22453012@unknown@formal@none@1@S@For the nine-month period, Intel reported net of $268.3 million, or $1.43 a share, down 27% from $367.1 million, or $2.05 a share.@@@@1@23@@oe@2-2-2013
22453013@unknown@formal@none@1@S@Revenue amounted to $2.23 billion, up slightly from $2.15 billion.@@@@1@10@@oe@2-2-2013
22454001@unknown@formal@none@1@S@Walter Sisulu and the African National Congress came home yesterday.@@@@1@10@@oe@2-2-2013
22454002@unknown@formal@none@1@S@After 26 years in prison, Mr. Sisulu, the 77-year-old former secretary-general of the liberation movement, was dropped off at his house by a prison services' van just as the sun was coming up.@@@@1@33@@oe@2-2-2013
22454003@unknown@formal@none@1@S@At the same time, six ANC colleagues, five of whom were arrested with him in 1963 and sentenced to life imprisonment, were reunited with their families at various places around the country.@@@@1@32@@oe@2-2-2013
22454004@unknown@formal@none@1@S@And as the graying men returned to their homes, the ANC, outlawed in South Africa since 1960 and still considered to be the chief public enemy by the white government, defiantly returned to the streets of the country's black townships.@@@@1@40@@oe@2-2-2013
22454005@unknown@formal@none@1@S@A huge ANC flag, with black, green and gold stripes, was hoisted over the rickety gate at Mr. Sisulu's modest house, while on the street out front, boys displayed the ANC colors on their shirts, caps and scarves.@@@@1@38@@oe@2-2-2013
22454006@unknown@formal@none@1@S@At the small four-room home of Elias Motsoaledi, a leading ANC unionist and a former commander in the group's armed wing, Umkhonto we Sizwe, well-wishers stuck little ANC flags in their hair and a man tooted on an antelope horn wrapped in ANC ribbons.@@@@1@44@@oe@2-2-2013
22454007@unknown@formal@none@1@S@"I am happy to see the spirit of the people," said Mr. Sisulu, looking dapper in a new gray suit.@@@@1@20@@oe@2-2-2013
22454008@unknown@formal@none@1@S@As the crowd outside his home shouted "ANC, ANC," the old man shot his fists into the air.@@@@1@18@@oe@2-2-2013
22454009@unknown@formal@none@1@S@"I'm inspired by the mood of the people."@@@@1@8@@oe@2-2-2013
22454010@unknown@formal@none@1@S@Under the laws of the land, the ANC remains an illegal organization, and its headquarters are still in Lusaka, Zambia.@@@@1@20@@oe@2-2-2013
22454011@unknown@formal@none@1@S@But the unconditional release of the seven leaders, who once formed the intellectual and organizational core of the ANC, is a de facto unbanning of the movement and the rebirth of its internal wing.@@@@1@34@@oe@2-2-2013
22454012@unknown@formal@none@1@S@"The government can never put the ANC back into the bottle again," said Cassim Saloojee, a veteran anti-apartheid activist on hand to welcome Mr. Sisulu.@@@@1@25@@oe@2-2-2013
22454013@unknown@formal@none@1@S@"Things have gone too far for the government to stop them now.@@@@1@12@@oe@2-2-2013
22454014@unknown@formal@none@1@S@There's no turning back."@@@@1@4@@oe@2-2-2013
22454015@unknown@formal@none@1@S@There was certainly no stopping the tide of ANC emotion last night, when hundreds of people jammed into the Holy Cross Anglican Church in Soweto for what became the first ANC rally in the country in 30 years.@@@@1@38@@oe@2-2-2013
22454016@unknown@formal@none@1@S@Deafening chants of "ANC" and "Umkhonto we Sizwe" shook the church as the seven aging men vowed that the ANC would continue its fight against the government and the policies of racial segregation on all fronts, including the armed struggle.@@@@1@40@@oe@2-2-2013
22454017@unknown@formal@none@1@S@And they called on the government to release Nelson Mandela, the ANC's leading figure, who was jailed with them and remains in prison.@@@@1@23@@oe@2-2-2013
22454018@unknown@formal@none@1@S@Without him, said Mr. Sisulu, the freeing of the others "is only a half-measure."@@@@1@14@@oe@2-2-2013
22454019@unknown@formal@none@1@S@President F.W. de Klerk released the ANC men -- along with one of the founding members of the Pan Africanist Congress, a rival liberation group -- as part of his efforts to create a climate of trust and peace in which his government can begin negotiations with black leaders over a new constitution aimed at giving blacks a voice in national government.@@@@1@62@@oe@2-2-2013
22454020@unknown@formal@none@1@S@But Pretoria may instead be creating a climate for more turmoil and uncertainty in this racially divided country.@@@@1@18@@oe@2-2-2013
22454021@unknown@formal@none@1@S@As other repressive governments, particularly Poland and the Soviet Union, have recently discovered, initial steps to open up society can create a momentum for radical change that becomes difficult, if not impossible, to control.@@@@1@34@@oe@2-2-2013
22454022@unknown@formal@none@1@S@As the days go by, the South African government will be ever more hard pressed to justify the continued imprisonment of Mr. Mandela as well as the continued banning of the ANC and enforcement of the state of emergency.@@@@1@39@@oe@2-2-2013
22454023@unknown@formal@none@1@S@If it doesn't yield on these matters, and eventually begin talking directly to the ANC, the expectations and promise raised by yesterday's releases will turn to disillusionment and unrest.@@@@1@29@@oe@2-2-2013
22454024@unknown@formal@none@1@S@If it does, the large number of right-wing whites, who oppose any concessions to the black majority, will step up their agitation and threats to take matters into their own hands.@@@@1@31@@oe@2-2-2013
22454025@unknown@formal@none@1@S@The newly released ANC leaders also will be under enormous pressure.@@@@1@11@@oe@2-2-2013
22454026@unknown@formal@none@1@S@The government is watching closely to see if their presence in the townships leads to increased anti-government protests and violence; if it does, Pretoria will use this as a reason to keep Mr. Mandela behind bars.@@@@1@36@@oe@2-2-2013
22454027@unknown@formal@none@1@S@Pretoria hasn't forgotten why they were all sentenced to life imprisonment in the first place: for sabotage and conspiracy to overthrow the government.@@@@1@23@@oe@2-2-2013
22454028@unknown@formal@none@1@S@In addition, the government is figuring that the releases could create a split between the internal and external wings of the ANC and between the newly freed leaders and those activists who have emerged as leaders inside the country during their imprisonment.@@@@1@42@@oe@2-2-2013
22454029@unknown@formal@none@1@S@In order to head off any divisions, Mr. Mandela, in a meeting with his colleagues before they were released, instructed them to report to the ANC headquarters in Lusaka as soon as possible.@@@@1@33@@oe@2-2-2013
22454030@unknown@formal@none@1@S@The men also will be faced with bridging the generation gap between themselves and the country's many militant black youths, the so-called young lions who are anxious to see the old lions in action.@@@@1@34@@oe@2-2-2013
22454031@unknown@formal@none@1@S@Says Peter Mokaba, president of the South African Youth Congress: "We will be expecting them to act like leaders of the ANC."@@@@1@22@@oe@2-2-2013
22454032@unknown@formal@none@1@S@They never considered themselves to be anything else.@@@@1@8@@oe@2-2-2013
22454033@unknown@formal@none@1@S@At last night's rally, they called on their followers to be firm, yet disciplined, in their opposition to apartheid.@@@@1@19@@oe@2-2-2013
22454034@unknown@formal@none@1@S@"We emphasize discipline because we know that the government is very, very sensitive," said Andrew Mlangeni, another early Umkhonto leader who is now 63.@@@@1@24@@oe@2-2-2013
22454035@unknown@formal@none@1@S@"We want to see Nelson Mandela and all our comrades out of prison, and if we aren't disciplined we may not see them here with us.@@@@1@26@@oe@2-2-2013