The University is seeking to block the acquisition of Connaught by foreign interests citing concerns about the amount of research that would be done in Canada

( S ( NP-SBJ-3 ( DT The ) ( NNP University ) ) ( VP ( VBZ is ) ( VP ( VBG seeking ) ( S ( VP ( TO to ) ( VP ( VB block ) ( NP ( NP ( DT the ) ( NN acquisition ) ) ( PP ( IN of ) ( NP ( NNP Connaught ) ) ) ( PP ( IN by ) ( NP ( JJ foreign ) ( NNS interests ) ) ) ) ) ) ) ( S-ADV ( VP ( VBG citing ) ( NP ( NP ( NNS concerns ) ) ( PP ( IN about ) ( NP ( NP ( DT the ) ( NN amount ) ) ( PP ( IN of ) ( NP ( NN research ) ) ) ( SBAR ( WHNP-4 ( WDT that ) ) ( S ( VP ( MD would ) ( VP ( VB be ) ( VP ( VBN done ) ( PP-LOC ( IN in ) ( NP ( NNP Canada ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )


The university is considering a settlement proposal made by Connaught

( S ( NP-SBJ ( DT The ) ( NN university ) ) ( VP ( VBZ is ) ( VP ( VBG considering ) ( NP ( NP ( DT a ) ( NN settlement ) ( NN proposal ) ) ( VP ( VBN made ) ( PP ( IN by ) ( NP-LGS ( NNP Connaught ) ) ) ) ) ) ) )


While neither side will disclose its contents Mr. Mehta expects it to contain more specific guarantees on research and development spending levels in Canada than Merieux offered to Investment Canada

( S ( SBAR-ADV ( IN While ) ( S ( NP-SBJ ( DT neither ) ( NN side ) ) ( VP ( MD will ) ( VP ( VB disclose ) ( NP ( PRP$ its ) ( NNS contents ) ) ) ) ) ) ( NP-SBJ ( NNP Mr. ) ( NNP Mehta ) ) ( VP ( VBZ expects ) ( S ( NP-SBJ ( PRP it ) ) ( VP ( TO to ) ( VP ( VB contain ) ( NP ( NP ( ADJP ( RBR more ) ( JJ specific ) ) ( NNS guarantees ) ) ( PP ( IN on ) ( NP ( NP ( NN research ) ( CC and ) ( NN development ) ( NN spending ) ( NNS levels ) ) ( PP-LOC ( IN in ) ( NP ( NNP Canada ) ) ) ) ) ( SBAR ( IN than ) ( S ( NP-SBJ ( NNP Merieux ) ) ( VP ( VBD offered ) ( PP-DTV ( TO to ) ( NP ( NNP Investment ) ( NNP Canada ) ) ) ) ) ) ) ) ) ) ) )


Some analysts such as Murray Grossner of Toronto-based Richardson Greenshields Inc. believe the government ruling leaves the door open for other bidders such as Switzerland 's Ciba-Geigy and Chiron Corp. of Emeryville Calif

( S ( NP-SBJ ( NP ( DT Some ) ( NNS analysts ) ) ( PP ( JJ such ) ( IN as ) ( NP ( NP ( NNP Murray ) ( NNP Grossner ) ) ( PP ( IN of ) ( NP ( JJ Toronto-based ) ( NNP Richardson ) ( NNP Greenshields ) ( NNP Inc. ) ) ) ) ) ) ( VP ( VBP believe ) ( SBAR ( S ( NP-SBJ ( DT the ) ( NN government ) ( NN ruling ) ) ( VP ( VBZ leaves ) ( S ( NP-SBJ ( DT the ) ( NN door ) ) ( ADJP-PRD ( JJ open ) ( PP ( IN for ) ( NP ( NP ( JJ other ) ( NNS bidders ) ) ( PP ( JJ such ) ( IN as ) ( NP ( NP ( NP ( NNP Switzerland ) ( POS 's ) ) ( NNP Ciba-Geigy ) ) ( CC and ) ( NP ( NP ( NNP Chiron ) ( NNP Corp. ) ) ( PP ( IN of ) ( NP ( NP ( NNP Emeryville ) ) ( NP ( NNP Calif ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )


Officials for the two concerns which are bidding 30 a share for Connaught could n't be reached for comment

( S ( NP-SBJ-1 ( NP ( NNS Officials ) ) ( PP ( IN for ) ( NP ( NP ( DT the ) ( CD two ) ( NNS concerns ) ) ( SBAR ( WHNP-2 ( WDT which ) ) ( S ( VP ( VBP are ) ( VP ( VBG bidding ) ( NP ( NP ( CD 30 ) ) ( NP-ADV ( DT a ) ( NN share ) ) ) ( PP-CLR ( IN for ) ( NP ( NNP Connaught ) ) ) ) ) ) ) ) ) ) ( VP ( MD could ) ( RB n't ) ( VP ( VB be ) ( VP ( VBN reached ) ( PP-PRP ( IN for ) ( NP ( NN comment ) ) ) ) ) ) )


French state-owned Rhone-Poulenc S.A. holds 51 % of Merieux

( S ( NP-SBJ ( ADJP ( JJ French ) ( JJ state-owned ) ) ( NNP Rhone-Poulenc ) ( NNP S.A. ) ) ( VP ( VBZ holds ) ( NP ( NP ( CD 51 ) ( NN % ) ) ( PP ( IN of ) ( NP ( NNP Merieux ) ) ) ) ) )


When the news broke of an attempted coup in Panama two weeks ago Sen. Christopher Dodd called the State Department for a briefing

( S ( SBAR-TMP ( WHADVP-2 ( WRB When ) ) ( S ( NP-SBJ ( NP ( DT the ) ( NN news ) ) ) ( VP ( VBD broke ) ( PP-1 ( IN of ) ( NP ( NP ( DT an ) ( JJ attempted ) ( NN coup ) ) ( PP-LOC ( IN in ) ( NP ( NNP Panama ) ) ) ) ) ( ADVP-TMP ( NP ( CD two ) ( NNS weeks ) ) ( RB ago ) ) ) ) ) ( NP-SBJ ( NNP Sen. ) ( NNP Christopher ) ( NNP Dodd ) ) ( VP ( VBD called ) ( NP ( DT the ) ( NNP State ) ( NNP Department ) ) ( PP-PRP ( IN for ) ( NP ( DT a ) ( NN briefing ) ) ) ) )


They said follow CNN he told reporters

( S ( S-TPC-1 ( NP-SBJ ( PRP They ) ) ( VP ( VBD said ) ( S ( VP ( VB follow ) ( NP ( NNP CNN ) ) ) ) ) ) ( NP-SBJ ( PRP he ) ) ( VP ( VBD told ) ( NP ( NNS reporters ) ) ) )


That shows how far Ted Turner 's Cable News Network has come since its birth nine years ago when it was considered the laughingstock of television news

( S ( NP-SBJ ( DT That ) ) ( VP ( VBZ shows ) ( SBAR-NOM ( WHADVP-2 ( WRB how ) ( RB far ) ) ( S ( NP-SBJ ( NP ( NNP Ted ) ( NNP Turner ) ( POS 's ) ) ( NNP Cable ) ( NNP News ) ( NNP Network ) ) ( VP ( VBZ has ) ( VP ( VBN come ) ( PP-TMP ( IN since ) ( NP ( NP ( PRP$ its ) ( NN birth ) ) ( ADVP-TMP ( NP ( CD nine ) ( NNS years ) ) ( RB ago ) ) ( SBAR ( WHADVP ( WRB when ) ) ( S ( NP-SBJ-1 ( PRP it ) ) ( VP ( VBD was ) ( VP ( VBN considered ) ( S ( NP-PRD ( NP ( DT the ) ( NN laughingstock ) ) ( PP ( IN of ) ( NP ( NN television ) ( NN news ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )


It is bigger faster and more profitable than the news divisions of any of the three major broadcast networks

( S ( NP-SBJ ( PRP It ) ) ( VP ( VBZ is ) ( ADJP-PRD ( ADJP ( JJR bigger ) ) ( ADJP ( JJR faster ) ) ( CC and ) ( ADJP ( RBR more ) ( JJ profitable ) ) ( PP ( IN than ) ( NP ( NP ( DT the ) ( NN news ) ( NNS divisions ) ) ( PP ( IN of ) ( NP ( NP ( DT any ) ) ( PP ( IN of ) ( NP ( DT the ) ( CD three ) ( JJ major ) ( NN broadcast ) ( NNS networks ) ) ) ) ) ) ) ) ) )


Its niche as the network of record during major crises draws elite audiences around the world

( S ( NP-SBJ ( NP ( PRP$ Its ) ( NN niche ) ) ( PP ( IN as ) ( NP ( NP ( DT the ) ( NN network ) ) ( PP ( IN of ) ( NP ( NN record ) ) ) ( PP-TMP ( IN during ) ( NP ( JJ major ) ( NNS crises ) ) ) ) ) ) ( VP ( VBZ draws ) ( NP ( JJ elite ) ( NNS audiences ) ) ( PP-LOC ( IN around ) ( NP ( DT the ) ( NN world ) ) ) ) )


But for all its success CNN has hit a plateau

( S ( CC But ) ( PP ( IN for ) ( NP ( PDT all ) ( PRP$ its ) ( NN success ) ) ) ( NP-SBJ ( NNP CNN ) ) ( VP ( VBZ has ) ( VP ( VBN hit ) ( NP ( DT a ) ( NN plateau ) ) ) ) )


Although viewership soars when big news breaks it ebbs during periods of calm

( S ( SBAR-ADV ( IN Although ) ( S ( NP-SBJ ( NN viewership ) ) ( VP ( NNS soars ) ( SBAR-TMP ( WHADVP-1 ( WRB when ) ) ( S ( NP-SBJ ( JJ big ) ( NN news ) ) ( VP ( VBZ breaks ) ) ) ) ) ) ) ( NP-SBJ ( PRP it ) ) ( VP ( VBZ ebbs ) ( PP-TMP ( IN during ) ( NP ( NP ( NNS periods ) ) ( PP ( IN of ) ( NP ( NN calm ) ) ) ) ) ) )


CNN executives worry that the network 's punchy but repetitive news format may be getting stale and wo n't keep viewers coming back as the alternatives multiply for news and information on cable-TV

( S ( NP-SBJ ( NNP CNN ) ( NNS executives ) ) ( VP ( VBP worry ) ( SBAR ( IN that ) ( S ( NP-SBJ ( NP ( DT the ) ( NN network ) ( POS 's ) ) ( ADJP ( JJ punchy ) ( CC but ) ( JJ repetitive ) ) ( NN news ) ( NN format ) ) ( VP ( VP ( MD may ) ( VP ( VB be ) ( VP ( VBG getting ) ( ADJP-PRD ( JJ stale ) ) ) ) ) ( CC and ) ( VP ( MD wo ) ( RB n't ) ( VP ( VB keep ) ( S ( NP-SBJ ( NNS viewers ) ) ( VP ( VBG coming ) ( ADVP-DIR ( RB back ) ) ( SBAR-TMP ( IN as ) ( S ( NP-SBJ ( NP ( DT the ) ( NNS alternatives ) ) ) ( VP ( VBP multiply ) ( PP-1 ( IN for ) ( NP ( NN news ) ( CC and ) ( NN information ) ) ) ( PP-LOC ( IN on ) ( NP ( NN cable-TV ) ) ) ) ) ) ) ) ) ) ) ) ) ) )


Just the fact we 're on 24 hours is no longer bulletin says Ed Turner CNN 's executive vice president news gathering and no relation to Ted Turner

( SINV ( S-TPC-1 ( NP-SBJ ( RB Just ) ( DT the ) ( NN fact ) ( SBAR ( S ( NP-SBJ ( PRP we ) ) ( VP ( VBP 're ) ( ADJP-PRD ( IN on ) ) ( NP-TMP ( CD 24 ) ( NNS hours ) ) ) ) ) ) ( VP ( VBZ is ) ( ADVP-TMP ( DT no ) ( RBR longer ) ) ( NP-PRD ( NN bulletin ) ) ) ) ( VP ( VBZ says ) ) ( NP-SBJ ( NP ( NNP Ed ) ( NNP Turner ) ) ( NP ( NP ( NP ( NP ( NNP CNN ) ( POS 's ) ) ( JJ executive ) ( NN vice ) ( NN president ) ) ( NP ( NN news ) ( NN gathering ) ) ) ( PRN ( CC and ) ( NP ( NP ( DT no ) ( NN relation ) ) ( PP ( TO to ) ( NP ( NNP Ted ) ( NNP Turner ) ) ) ) ) ) ) )


You ca n't live on that

( S ( NP-SBJ ( PRP You ) ) ( VP ( MD ca ) ( RB n't ) ( VP ( VB live ) ( PP-CLR ( IN on ) ( NP ( DT that ) ) ) ) ) )


So CNN a unit of Atlanta-based Turner Broadcasting System Inc. is trying to reposition itself as a primary channel or what people in the television industry call a top of mind network

( S ( RB So ) ( NP-SBJ-2 ( NP ( NNP CNN ) ) ( NP ( NP ( DT a ) ( NN unit ) ) ( PP ( IN of ) ( NP ( JJ Atlanta-based ) ( NNP Turner ) ( NNP Broadcasting ) ( NNP System ) ( NNP Inc. ) ) ) ) ) ( VP ( VBZ is ) ( VP ( VBG trying ) ( S ( VP ( TO to ) ( VP ( VB reposition ) ( NP ( PRP itself ) ) ( PP-CLR ( IN as ) ( NP ( NP ( DT a ) ( JJ primary ) ( NN channel ) ) ( CC or ) ( SBAR-NOM ( WHNP-1 ( WP what ) ) ( S ( NP-SBJ ( NP ( NNS people ) ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( NN television ) ( NN industry ) ) ) ) ( VP ( VBP call ) ( S ( NP-PRD ( DT a ) ( NAC ( NN top ) ( PP ( IN of ) ( NP ( NN mind ) ) ) ) ( NN network ) ) ) ) ) ) ) ) ) ) ) ) ) )


Tonight to kick off the effort CNN will premiere its first prime-time newscast in years an hourlong show at 6 p.m Eastern time to air head-to-head against the network newscasts

( S ( NP-TMP ( RB Tonight ) ) ( S-PRP ( VP ( TO to ) ( VP ( VB kick ) ( PRT ( RP off ) ) ( NP ( DT the ) ( NN effort ) ) ) ) ) ( NP-SBJ-1 ( NNP CNN ) ) ( VP ( MD will ) ( VP ( VB premiere ) ( NP ( NP ( PRP$ its ) ( JJ first ) ( NN prime-time ) ( NN newscast ) ) ( PP-TMP ( IN in ) ( NP ( NNS years ) ) ) ( NP ( NP ( DT an ) ( JJ hourlong ) ( NN show ) ) ( PP-TMP ( IN at ) ( NP ( CD 6 ) ( RB p.m ) ( JJ Eastern ) ( NN time ) ) ) ( SBAR ( S ( VP ( TO to ) ( VP ( VB air ) ( ADVP-MNR ( RB head-to-head ) ) ( PP ( IN against ) ( NP ( DT the ) ( NN network ) ( NNS newscasts ) ) ) ) ) ) ) ) ) ) ) )


The show will be co-anchored by Bernard Shaw and Catherine Crier a 34-year-old former Texas judge and campus beauty queen who has never held a job in television or journalism

( S ( NP-SBJ-1 ( DT The ) ( NN show ) ) ( VP ( MD will ) ( VP ( VB be ) ( VP ( VBN co-anchored ) ( PP ( IN by ) ( NP-LGS ( NP ( NNP Bernard ) ( NNP Shaw ) ) ( CC and ) ( NP ( NP ( NNP Catherine ) ( NNP Crier ) ) ( NP ( NP ( DT a ) ( JJ 34-year-old ) ( JJ former ) ( NX ( NX ( NNP Texas ) ( NN judge ) ) ( CC and ) ( NX ( NN campus ) ( NN beauty ) ( NN queen ) ) ) ) ( SBAR ( WHNP-2 ( WP who ) ) ( S ( VP ( VBZ has ) ( ADVP-TMP ( RB never ) ) ( VP ( VBN held ) ( NP ( NP ( DT a ) ( NN job ) ) ( PP-LOC ( IN in ) ( NP ( NN television ) ( CC or ) ( NN journalism ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )


The new show is perhaps the boldest in a number of steps the network is taking to build audience loyalty by shifting away from its current format toward more full-length signature programming with recognizable stars

( S ( NP-SBJ ( DT The ) ( JJ new ) ( NN show ) ) ( VP ( VBZ is ) ( ADVP ( RB perhaps ) ) ( NP-PRD ( NP ( DT the ) ( JJS boldest ) ) ( PP-LOC ( IN in ) ( NP ( NP ( DT a ) ( NN number ) ) ( PP ( IN of ) ( NP ( NP ( NNS steps ) ) ( SBAR ( S ( NP-SBJ-2 ( DT the ) ( NN network ) ) ( VP ( VBZ is ) ( VP ( VBG taking ) ( S-PRP ( VP ( TO to ) ( VP ( VB build ) ( NP ( NN audience ) ( NN loyalty ) ) ( PP-MNR ( IN by ) ( S-NOM ( VP ( VBG shifting ) ( ADVP-DIR ( RB away ) ( PP ( IN from ) ( NP ( PRP$ its ) ( JJ current ) ( NN format ) ) ) ) ( PP-DIR ( IN toward ) ( NP ( NP ( JJR more ) ( JJ full-length ) ( NN signature ) ( NN programming ) ) ( PP ( IN with ) ( NP ( JJ recognizable ) ( NNS stars ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )


To distinguish itself CNN is also expanding international coverage and adding a second global-news program

( S ( S-PRP ( VP ( TO To ) ( VP ( VB distinguish ) ( NP ( PRP itself ) ) ) ) ) ( NP-SBJ-1 ( NNP CNN ) ) ( VP ( VBZ is ) ( ADVP ( RB also ) ) ( VP ( VP ( VBG expanding ) ( NP ( JJ international ) ( NN coverage ) ) ) ( CC and ) ( VP ( VBG adding ) ( NP ( DT a ) ( JJ second ) ( NN global-news ) ( NN program ) ) ) ) ) )


It is paying higher salaries after years of scrimping to lure and keep experienced staffers

( S ( NP-SBJ-1 ( PRP It ) ) ( VP ( VBZ is ) ( VP ( VBG paying ) ( NP ( JJR higher ) ( NNS salaries ) ) ( PRN ( PP-TMP ( IN after ) ( NP ( NP ( NNS years ) ) ( PP ( IN of ) ( NP ( VBG scrimping ) ) ) ) ) ) ( S-PRP ( VP ( TO to ) ( VP ( VB lure ) ( CC and ) ( VB keep ) ( NP ( JJ experienced ) ( NNS staffers ) ) ) ) ) ) ) )


And it is embarking on an expensive gamble to break major stories with a large investigative-reporting team

( S ( CC And ) ( NP-SBJ ( PRP it ) ) ( VP ( VBZ is ) ( VP ( VBG embarking ) ( PP-CLR ( IN on ) ( NP ( DT an ) ( JJ expensive ) ( NN gamble ) ( S ( VP ( TO to ) ( VP ( VB break ) ( NP ( JJ major ) ( NNS stories ) ) ( PP ( IN with ) ( NP ( DT a ) ( JJ large ) ( NN investigative-reporting ) ( NN team ) ) ) ) ) ) ) ) ) ) )


The next stage is to get beyond the opinion leaders who use us as a point of reference to become a point of reference at ordinary dinner tables says Jon Petrovich executive vice president of Headline News CNN 's sister network

( S ( S-TPC-2 ( NP-SBJ ( DT The ) ( JJ next ) ( NN stage ) ) ( VP ( VBZ is ) ( S-PRD ( VP ( TO to ) ( VP ( VB get ) ( PP-DIR ( IN beyond ) ( NP ( NP ( DT the ) ( NN opinion ) ( NNS leaders ) ) ( SBAR ( WHNP-1 ( WP who ) ) ( S ( VP ( VBP use ) ( NP ( PRP us ) ) ( PP-CLR ( IN as ) ( NP ( NP ( DT a ) ( NN point ) ) ( PP ( IN of ) ( NP ( NN reference ) ) ) ) ) ) ) ) ) ) ( S-PRP ( VP ( TO to ) ( VP ( VB become ) ( NP-PRD ( NP ( DT a ) ( NN point ) ) ( PP ( IN of ) ( NP ( NN reference ) ) ) ) ( PP-LOC ( IN at ) ( NP ( JJ ordinary ) ( NN dinner ) ( NNS tables ) ) ) ) ) ) ) ) ) ) ) ( VP ( VBZ says ) ) ( NP-SBJ ( NP ( NNP Jon ) ( NNP Petrovich ) ) ( NP ( NP ( JJ executive ) ( NN vice ) ( NN president ) ) ( PP ( IN of ) ( NP ( NP ( NNP Headline ) ( NNP News ) ) ( NP ( NP ( NNP CNN ) ( POS 's ) ) ( NN sister ) ( NN network ) ) ) ) ) ) )


But that wo n't be easy

( S ( CC But ) ( NP-SBJ ( DT that ) ) ( VP ( MD wo ) ( RB n't ) ( VP ( VB be ) ( ADJP-PRD ( JJ easy ) ) ) ) )


Networks like other consumer products develop images in peoples ' minds that are n't easy to change

( S ( NP-SBJ ( NNS Networks ) ) ( PP ( IN like ) ( NP ( JJ other ) ( NN consumer ) ( NNS products ) ) ) ( VP ( VBP develop ) ( NP ( NP ( NNS images ) ) ( PP-LOC ( IN in ) ( NP ( NP ( NNS peoples ) ( POS ' ) ) ( NNS minds ) ) ) ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( VP ( VBP are ) ( RB n't ) ( ADJP-PRD ( JJ easy ) ( SBAR ( S ( VP ( TO to ) ( VP ( VB change ) ) ) ) ) ) ) ) ) ) ) )


It also takes money that CNN has been reluctant to spend to make programs and hire talent that viewers will tune in specially to see

( S ( NP-SBJ-3 ( PRP It ) ) ( ADVP ( RB also ) ) ( VP ( VBZ takes ) ( NP ( NP ( NN money ) ) ( SBAR ( WHNP-2 ( IN that ) ) ( S ( NP-SBJ-1 ( NNP CNN ) ) ( VP ( VBZ has ) ( VP ( VBN been ) ( ADJP-PRD ( JJ reluctant ) ( S ( VP ( TO to ) ( VP ( VB spend ) ) ) ) ) ) ) ) ) ) ( S-PRP ( VP ( TO to ) ( VP ( VP ( VB make ) ( NP ( NNS programs ) ) ) ( CC and ) ( VP ( VB hire ) ( NP ( NP ( NN talent ) ) ( SBAR ( WHNP-4 ( IN that ) ) ( S ( NP-SBJ-5 ( NNS viewers ) ) ( VP ( MD will ) ( VP ( VB tune ) ( PRT ( RP in ) ) ( ADVP ( RB specially ) ) ( S-PRP ( VP ( TO to ) ( VP ( VB see ) ) ) ) ) ) ) ) ) ) ) ) ) ) )


And the cable-TV operators CNN 's distributors and part owners like things just the way they are

( S ( CC And ) ( NP-SBJ ( NP ( DT the ) ( NN cable-TV ) ( NNS operators ) ) ( PRN ( NP ( NP ( NNP CNN ) ( POS 's ) ) ( NX ( NX ( NNS distributors ) ) ( CC and ) ( NX ( JJ part ) ( NNS owners ) ) ) ) ) ) ( VP ( IN like ) ( S ( NP-SBJ ( NNS things ) ) ( NP-PRD ( NP ( RB just ) ( DT the ) ( NN way ) ) ( SBAR ( S ( NP-SBJ ( PRP they ) ) ( VP ( VBP are ) ) ) ) ) ) ) )


The repositioning bid is aimed at CNN 's unsteady viewership and what may happen to it as the cable-TV news market grows more competitive

( S ( NP-SBJ-1 ( DT The ) ( NN repositioning ) ( NN bid ) ) ( VP ( VBZ is ) ( VP ( VBN aimed ) ( PP-CLR ( IN at ) ( NP ( NP ( NP ( NNP CNN ) ( POS 's ) ) ( JJ unsteady ) ( NN viewership ) ) ( CC and ) ( SBAR-NOM ( WHNP-2 ( WP what ) ) ( S ( VP ( MD may ) ( VP ( VB happen ) ( PP-CLR ( TO to ) ( NP ( PRP it ) ) ) ( SBAR-TMP ( IN as ) ( S ( NP-SBJ ( DT the ) ( NN cable-TV ) ( NN news ) ( NN market ) ) ( VP ( VBZ grows ) ( ADJP-PRD ( RBR more ) ( JJ competitive ) ) ) ) ) ) ) ) ) ) ) ) ) )


Already CNN is facing stronger competition from Financial News Network Inc. and General Electric Co. 's Consumer News and Business Channel both of which are likely to pursue more general news in the future

( S ( ADVP-TMP ( RB Already ) ) ( NP-SBJ ( NNP CNN ) ) ( VP ( VBZ is ) ( VP ( VBG facing ) ( NP ( NP ( JJR stronger ) ( NN competition ) ) ( PP ( IN from ) ( NP ( NP ( NP ( NNP Financial ) ( NNP News ) ( NNP Network ) ( NNP Inc. ) ) ( CC and ) ( NP ( NP ( NNP General ) ( NNP Electric ) ( NNP Co. ) ( POS 's ) ) ( NNP Consumer ) ( NNP News ) ( CC and ) ( NNP Business ) ( NNP Channel ) ) ) ( SBAR ( WHNP-1 ( NP ( DT both ) ) ( WHPP ( IN of ) ( WHNP ( WDT which ) ) ) ) ( S ( VP ( VBP are ) ( ADJP-PRD ( JJ likely ) ( S ( VP ( TO to ) ( VP ( VB pursue ) ( NP ( ADJP ( JJR more ) ( JJ general ) ) ( NN news ) ) ( PP-TMP ( IN in ) ( NP ( DT the ) ( NN future ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )


In addition many cable-TV systems themselves are airing more local and regional news programs produced by local broadcast stations

( S ( PP ( IN In ) ( NP ( NN addition ) ) ) ( NP-SBJ ( NP ( JJ many ) ( NN cable-TV ) ( NNS systems ) ) ( NP ( PRP themselves ) ) ) ( VP ( VBP are ) ( VP ( VBG airing ) ( NP ( NP ( JJR more ) ( ADJP ( JJ local ) ( CC and ) ( JJ regional ) ) ( NN news ) ( NNS programs ) ) ( VP ( VBN produced ) ( PP ( IN by ) ( NP-LGS ( JJ local ) ( NN broadcast ) ( NNS stations ) ) ) ) ) ) ) )


CNN wants to change its viewers ' habits

( S ( NP-SBJ-1 ( NNP CNN ) ) ( VP ( VBZ wants ) ( S ( VP ( TO to ) ( VP ( VB change ) ( NP ( NP ( PRP$ its ) ( NNS viewers ) ( POS ' ) ) ( NNS habits ) ) ) ) ) ) )


Its watchers are on the whole a disloyal group of channel-zapping grazers and news junkies who spend an average of just 26 minutes a day watching CNN according to audience research

( S ( NP-SBJ ( PRP$ Its ) ( NNS watchers ) ) ( VP ( VBP are ) ( PP ( IN on ) ( NP ( DT the ) ( NN whole ) ) ) ( NP-PRD ( NP ( DT a ) ( JJ disloyal ) ( NN group ) ) ( PP ( IN of ) ( NP ( NP ( JJ channel-zapping ) ( NNS grazers ) ) ( CC and ) ( NP ( NN news ) ( NNS junkies ) ) ) ) ( SBAR ( WHNP-1 ( WP who ) ) ( S ( VP ( VBP spend ) ( NP ( NP ( DT an ) ( NN average ) ) ( PP ( IN of ) ( NP ( NP ( QP ( RB just ) ( CD 26 ) ) ( NNS minutes ) ) ( NP-ADV ( DT a ) ( NN day ) ) ) ) ) ( S ( VP ( VBG watching ) ( NP ( NNP CNN ) ) ) ) ( PP ( VBG according ) ( PP ( TO to ) ( NP ( NN audience ) ( NN research ) ) ) ) ) ) ) ) ) )


That 's less than one-third the time that viewers watch the major broadcast networks

( S ( NP-SBJ ( DT That ) ) ( VP ( VBZ 's ) ( NP-PRD ( NP ( QP ( JJR less ) ( IN than ) ( NN one-third ) ) ( DT the ) ( NN time ) ) ( SBAR ( WHADVP-1 ( IN that ) ) ( S ( NP-SBJ ( NNS viewers ) ) ( VP ( VBP watch ) ( NP ( DT the ) ( JJ major ) ( NN broadcast ) ( NNS networks ) ) ) ) ) ) ) )


The brief attention viewers give CNN could put it at a disadvantage as ratings data and advertising become more important to cable-TV channels

( S ( NP-SBJ ( NP ( DT The ) ( JJ brief ) ( NN attention ) ) ( SBAR ( S ( NP-SBJ ( NNS viewers ) ) ( VP ( VBP give ) ( NP ( NNP CNN ) ) ) ) ) ) ( VP ( MD could ) ( VP ( VB put ) ( NP ( PRP it ) ) ( PP-PUT ( IN at ) ( NP ( DT a ) ( NN disadvantage ) ) ) ( SBAR-TMP ( IN as ) ( S ( NP-SBJ ( NP ( NNS ratings ) ( NNS data ) ) ( CC and ) ( NP ( NN advertising ) ) ) ( VP ( VBN become ) ( ADJP-PRD ( RBR more ) ( JJ important ) ( PP ( TO to ) ( NP ( NN cable-TV ) ( NNS channels ) ) ) ) ) ) ) ) ) )


CNN 's viewer habits have been molded by its format

( S ( NP-SBJ-1 ( NP ( NNP CNN ) ( POS 's ) ) ( NN viewer ) ( NNS habits ) ) ( VP ( VBP have ) ( VP ( VBN been ) ( VP ( VBN molded ) ( PP ( IN by ) ( NP-LGS ( PRP$ its ) ( NN format ) ) ) ) ) ) )


Its strategy in the past has been to serve as a TV wire service

( S ( NP-SBJ ( NP ( PRP$ Its ) ( NN strategy ) ) ( PP-TMP ( IN in ) ( NP ( DT the ) ( NN past ) ) ) ) ( VP ( VBZ has ) ( VP ( VBN been ) ( S-PRD ( VP ( TO to ) ( VP ( VB serve ) ( PP-CLR ( IN as ) ( NP ( DT a ) ( NN TV ) ( NN wire ) ( NN service ) ) ) ) ) ) ) ) )


It focused on building up its news bureaus around the world so as events took place it could go live quicker and longer than other networks

( S ( NP-SBJ-1 ( PRP It ) ) ( VP ( VBD focused ) ( PP-CLR ( IN on ) ( S-NOM ( VP ( NN building ) ( PRT ( RP up ) ) ( NP ( NP ( PRP$ its ) ( NN news ) ( NN bureaus ) ) ( PP-LOC ( IN around ) ( NP ( DT the ) ( NN world ) ) ) ) ) ) ) ( SBAR-PRP ( RB so ) ( S ( SBAR-TMP ( IN as ) ( S ( NP-SBJ ( NNS events ) ) ( VP ( VBD took ) ( NP ( NN place ) ) ) ) ) ( NP-SBJ ( PRP it ) ) ( VP ( MD could ) ( VP ( VB go ) ( ADJP-PRD ( JJ live ) ) ( ADVP-TMP ( ADVP ( RBR quicker ) ( CC and ) ( RBR longer ) ) ( PP ( IN than ) ( NP ( JJ other ) ( NNS networks ) ) ) ) ) ) ) ) ) )


It filled its daily schedule with newscasts called Daybreak Daywatch Newsday and Newsnight but the shows varied little in content personality or look

( S ( S ( NP-SBJ ( PRP It ) ) ( VP ( VBD filled ) ( NP ( PRP$ its ) ( JJ daily ) ( NN schedule ) ) ( PP-CLR ( IN with ) ( NP ( NP ( NNS newscasts ) ) ( VP ( VBN called ) ( S ( NP-PRD ( NP-TTL ( NNP Daybreak ) ) ( NP-TTL ( NNP Daywatch ) ) ( NP-TTL ( NNP Newsday ) ) ( CC and ) ( NP-TTL ( NNP Newsnight ) ) ) ) ) ) ) ) ) ( CC but ) ( S ( NP-SBJ ( DT the ) ( NNS shows ) ) ( VP ( VBD varied ) ( NP-EXT ( JJ little ) ) ( PP-LOC ( IN in ) ( NP ( NN content ) ( NN personality ) ( CC or ) ( NN look ) ) ) ) ) )


Now the push is on for more-distinctive shows

( S ( ADVP-TMP ( RB Now ) ) ( NP-SBJ ( NP ( DT the ) ( NN push ) ) ) ( VP ( VBZ is ) ( ADJP-PRD ( RB on ) ) ( PP-1 ( IN for ) ( NP ( JJR more-distinctive ) ( NNS shows ) ) ) ) )


Our goal is to create more programs with an individual identity says Paul Amos CNN executive vice president for programming

( SINV ( S-TPC-1 ( NP-SBJ ( PRP$ Our ) ( NN goal ) ) ( VP ( VBZ is ) ( S-PRD ( VP ( TO to ) ( VP ( VB create ) ( NP ( NP ( JJR more ) ( NNS programs ) ) ( PP ( IN with ) ( NP ( DT an ) ( JJ individual ) ( NN identity ) ) ) ) ) ) ) ) ) ( VP ( VBZ says ) ) ( NP-SBJ ( NP ( NNP Paul ) ( NNP Amos ) ) ( NP ( NP ( NNP CNN ) ( JJ executive ) ( NN vice ) ( NN president ) ) ( PP ( IN for ) ( NP ( NN programming ) ) ) ) ) )


Accordingly CNN is adding a world-affairs show in the morning because surveys show its global-news hour in the afternoon is among its most differentiated programs in viewers ' minds says Mr. Amos

( SINV ( S-TPC-1 ( ADVP ( RB Accordingly ) ) ( NP-SBJ ( NNP CNN ) ) ( VP ( VBZ is ) ( VP ( VBG adding ) ( NP ( NP ( DT a ) ( NNS world-affairs ) ( NN show ) ) ( PP-TMP ( IN in ) ( NP ( DT the ) ( NN morning ) ) ) ) ( SBAR-PRP ( IN because ) ( S ( NP-SBJ ( NNS surveys ) ) ( VP ( VBP show ) ( SBAR ( S ( NP-SBJ ( NP ( PRP$ its ) ( NN global-news ) ( NN hour ) ) ( PP-TMP ( IN in ) ( NP ( DT the ) ( NN afternoon ) ) ) ) ( VP ( VBZ is ) ( PP-LOC-PRD ( IN among ) ( NP ( PRP$ its ) ( ADJP ( RBS most ) ( JJ differentiated ) ) ( NNS programs ) ) ) ( PP-LOC ( IN in ) ( NP ( NP ( NNS viewers ) ( POS ' ) ) ( NNS minds ) ) ) ) ) ) ) ) ) ) ) ) ( VP ( VBZ says ) ) ( NP-SBJ ( NNP Mr. ) ( NNP Amos ) ) )


And it is exploring other original programs similar to its Larry King Live and Crossfire talk shows which executives hope will keep people tuned in

( S ( CC And ) ( NP-SBJ ( PRP it ) ) ( VP ( VBZ is ) ( VP ( VBG exploring ) ( NP ( NP ( JJ other ) ( JJ original ) ( NNS programs ) ) ( ADJP ( JJ similar ) ( PP ( TO to ) ( NP ( NP ( PRP$ its ) ( NP-TTL ( NP ( NNP Larry ) ( NNP King ) ) ( ADJP ( NNP Live ) ) ) ( CC and ) ( NP-TTL ( NNP Crossfire ) ) ( NN talk ) ( VBZ shows ) ) ) ) ) ( SBAR ( WHNP-1 ( WDT which ) ) ( S ( NP-SBJ ( NNS executives ) ) ( VP ( VBP hope ) ( SBAR ( S ( VP ( MD will ) ( VP ( VB keep ) ( S ( NP-SBJ ( NNS people ) ) ( VP ( VBN tuned ) ( PRT ( RP in ) ) ) ) ) ) ) ) ) ) ) ) ) ) )


Then there 's The World Today the prime-time newscast featuring Mr. Shaw and Ms. Crier

( S ( RB Then ) ( NP-SBJ ( EX there ) ) ( VP ( VBZ 's ) ( NP-PRD ( NP-TTL ( NP ( NNP The ) ( NNP World ) ) ( NP-TMP ( NNP Today ) ) ) ( NP ( NP ( DT the ) ( NN prime-time ) ( NN newscast ) ) ( VP ( VBG featuring ) ( NP ( NP ( NNP Mr. ) ( NNP Shaw ) ) ( CC and ) ( NP ( NNP Ms. ) ( NNP Crier ) ) ) ) ) ) ) )


Until now CNN has featured its Hollywood gossip show during the key evening period

( S ( PP-TMP ( IN Until ) ( NP ( RB now ) ) ) ( NP-SBJ ( NNP CNN ) ) ( VP ( VBZ has ) ( VP ( VBN featured ) ( NP ( PRP$ its ) ( NNP Hollywood ) ( NN gossip ) ( NN show ) ) ( PP-TMP ( IN during ) ( NP ( DT the ) ( JJ key ) ( NN evening ) ( NN period ) ) ) ) ) )


But 70 % of the cable-television-equipped households that watch news do so between 6:30 p.m. and 7 p.m. the network discovered so CNN wants in

( S ( S ( S-TPC-2 ( CC But ) ( NP-SBJ ( NP ( CD 70 ) ( NN % ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( JJ cable-television-equipped ) ( NNS households ) ) ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( VP ( VBP watch ) ( NP ( NN news ) ) ) ) ) ) ) ) ( VP ( VBP do ) ( ADVP-PRD ( RB so ) ) ( PP-TMP ( IN between ) ( NP ( NP ( CD 6:30 ) ( RB p.m. ) ) ( CC and ) ( NP ( CD 7 ) ( RB p.m. ) ) ) ) ) ) ( NP-SBJ ( DT the ) ( NN network ) ) ( VP ( VBD discovered ) ) ) ( IN so ) ( S ( NP-SBJ ( NNP CNN ) ) ( VP ( VBZ wants ) ( ADVP-CLR ( RB in ) ) ) ) )


Mr. Amos says the Shaw-Crier team will probably do two live interviews a day with most of the program at least for now appearing similar to CNN 's other newcasts

( S ( NP-SBJ ( NNP Mr. ) ( NNP Amos ) ) ( VP ( VBZ says ) ( SBAR ( S ( NP-SBJ ( DT the ) ( NNP Shaw-Crier ) ( NN team ) ) ( VP ( MD will ) ( ADVP ( RB probably ) ) ( VP ( VB do ) ( NP ( NP ( CD two ) ( JJ live ) ( NNS interviews ) ) ( NP-ADV ( DT a ) ( NN day ) ) ) ( PP ( IN with ) ( S-NOM ( NP-SBJ ( NP ( JJS most ) ) ( PP ( IN of ) ( NP ( DT the ) ( NN program ) ) ) ) ( PP-TMP ( ADVP ( IN at ) ( JJS least ) ) ( IN for ) ( NP ( RB now ) ) ) ( VP ( VBG appearing ) ( ADJP-PRD ( JJ similar ) ( PP ( TO to ) ( NP ( NP ( NNP CNN ) ( POS 's ) ) ( JJ other ) ( NNS newcasts ) ) ) ) ) ) ) ) ) ) ) ) )


Some in the industry are skeptical

( S ( NP-SBJ ( NP ( DT Some ) ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( NN industry ) ) ) ) ( VP ( VBP are ) ( ADJP-PRD ( JJ skeptical ) ) ) )


I find it hard to conceive of people switching over to CNN for what at least in the public 's mind is the same news says Reuven Frank the former two-time president of NBC News and creator of the Huntley-Brinkley Report

( SINV ( S-TPC-1 ( NP-SBJ ( PRP I ) ) ( VP ( VBP find ) ( S ( NP-SBJ ( NP ( PRP it ) ) ) ( ADJP-PRD ( JJ hard ) ) ( S-2 ( VP ( TO to ) ( VP ( VB conceive ) ( PP-CLR ( IN of ) ( S-NOM ( NP-SBJ ( NNS people ) ) ( VP ( VBG switching ) ( ADVP-CLR ( RB over ) ) ( PP-DIR ( TO to ) ( NP ( NNP CNN ) ) ) ( PP-PRP ( IN for ) ( SBAR ( WHNP-3 ( WP what ) ) ( S ( PP-LOC ( ADVP ( IN at ) ( JJS least ) ) ( IN in ) ( NP ( NP ( DT the ) ( NN public ) ( POS 's ) ) ( NN mind ) ) ) ( VP ( VBZ is ) ( NP-PRD ( DT the ) ( JJ same ) ( NN news ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ( VP ( VBZ says ) ) ( NP-SBJ ( NP ( NNP Reuven ) ( NNP Frank ) ) ( NP ( NP ( NP ( DT the ) ( JJ former ) ( JJ two-time ) ( NN president ) ) ( PP ( IN of ) ( NP ( NNP NBC ) ( NNP News ) ) ) ) ( CC and ) ( NP ( NP ( NN creator ) ) ( PP ( IN of ) ( NP ( DT the ) ( NNP Huntley-Brinkley ) ( NNP Report ) ) ) ) ) ) )


The evening news is also slated as CNN 's stage for its big push into investigative journalism

( S ( NP-SBJ-1 ( DT The ) ( NN evening ) ( NN news ) ) ( VP ( VBZ is ) ( ADVP ( RB also ) ) ( VP ( VBN slated ) ( PP-CLR ( IN as ) ( NP ( NP ( NP ( NNP CNN ) ( POS 's ) ) ( NN stage ) ) ( PP ( IN for ) ( NP ( NP ( PRP$ its ) ( JJ big ) ( NN push ) ) ( PP ( IN into ) ( NP ( JJ investigative ) ( NN journalism ) ) ) ) ) ) ) ) ) )


In August the network hired award-winning producer Pamela Hill the former head of news specials at ABC

( S ( PP-TMP ( IN In ) ( NP ( NNP August ) ) ) ( NP-SBJ ( DT the ) ( NN network ) ) ( VP ( VBD hired ) ( NP ( NP ( JJ award-winning ) ( NN producer ) ( NNP Pamela ) ( NNP Hill ) ) ( NP ( NP ( DT the ) ( JJ former ) ( NN head ) ) ( PP ( IN of ) ( NP ( NN news ) ( NNS specials ) ) ) ( PP-LOC ( IN at ) ( NP ( NNP ABC ) ) ) ) ) ) )


She 's assembling a staff of about 35 investigative reporters who will produce weekly in-depth segments with an eye toward breaking big stories

( S ( NP-SBJ ( PRP She ) ) ( VP ( VBZ 's ) ( VP ( VBG assembling ) ( NP ( NP ( DT a ) ( NN staff ) ) ( PP ( IN of ) ( NP ( QP ( RB about ) ( CD 35 ) ) ( JJ investigative ) ( NNS reporters ) ) ) ( SBAR ( WHNP-1 ( WP who ) ) ( S ( VP ( MD will ) ( VP ( VB produce ) ( NP ( JJ weekly ) ( JJ in-depth ) ( NNS segments ) ) ( PP ( IN with ) ( NP ( NP ( DT an ) ( NN eye ) ) ( PP ( IN toward ) ( S-NOM ( VP ( VBG breaking ) ( NP ( JJ big ) ( NNS stories ) ) ) ) ) ) ) ) ) ) ) ) ) ) )


CNN executives hope the headlines created by such scoops will generate excitement for its branded programs in the way 60 Minutes did so well for CBS

( S ( NP-SBJ ( NNP CNN ) ( NNS executives ) ) ( VP ( VBP hope ) ( SBAR ( S ( NP-SBJ ( NP ( DT the ) ( NNS headlines ) ) ( VP ( VBN created ) ( PP ( IN by ) ( NP-LGS ( JJ such ) ( NNS scoops ) ) ) ) ) ( VP ( MD will ) ( VP ( VB generate ) ( NP ( NN excitement ) ) ( PP-PRP ( IN for ) ( NP ( PRP$ its ) ( JJ branded ) ( NNS programs ) ) ) ( PP-MNR ( IN in ) ( NP ( NP ( DT the ) ( NN way ) ) ( SBAR ( S ( NP-TTL-SBJ ( NNP 60 ) ( NNP Minutes ) ) ( VP ( VBD did ) ( ADVP-MNR ( RB so ) ( RB well ) ) ( PP-PRP ( IN for ) ( NP ( NNP CBS ) ) ) ) ) ) ) ) ) ) ) ) ) )


That 's such a departure from the past that many in the industry are skeptical CNN will follow through with its investigative commitment especially after it sees the cost of producing in-depth pieces

( S ( NP-SBJ ( DT That ) ) ( VP ( VBZ 's ) ( NP-PRD ( NP ( PDT such ) ( DT a ) ( NN departure ) ) ( PP ( IN from ) ( NP ( DT the ) ( NN past ) ) ) ( SBAR ( IN that ) ( S ( NP-SBJ ( NP ( JJ many ) ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( NN industry ) ) ) ) ( VP ( VBP are ) ( ADJP-PRD ( JJ skeptical ) ( SBAR ( S ( NP-SBJ ( NNP CNN ) ) ( VP ( MD will ) ( VP ( VB follow ) ( PRT ( RP through ) ) ( PP-CLR ( IN with ) ( NP ( PRP$ its ) ( JJ investigative ) ( NN commitment ) ) ) ( SBAR-TMP ( ADVP ( RB especially ) ) ( IN after ) ( S ( NP-SBJ-1 ( PRP it ) ) ( VP ( VBZ sees ) ( NP ( NP ( DT the ) ( NN cost ) ) ( PP ( IN of ) ( S-NOM ( VP ( VBG producing ) ( NP ( JJ in-depth ) ( NNS pieces ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )


They 've never shown any inclination to spend money on production says Michael Mosettig a senior producer with MacNeil-Lehrer NewsHour who notes that CNN is indispensable to his job

( SINV ( S-TPC-2 ( NP-SBJ ( PRP They ) ) ( VP ( VBP 've ) ( ADVP-TMP ( RB never ) ) ( VP ( VBN shown ) ( NP ( DT any ) ( NN inclination ) ( S ( VP ( TO to ) ( VP ( VB spend ) ( NP ( NN money ) ) ( PP-CLR ( IN on ) ( NP ( NN production ) ) ) ) ) ) ) ) ) ) ( VP ( VBZ says ) ) ( NP-SBJ ( NP ( NNP Michael ) ( NNP Mosettig ) ) ( NP ( NP ( DT a ) ( JJ senior ) ( NN producer ) ) ( PP ( IN with ) ( NP ( NNP MacNeil-Lehrer ) ( NNP NewsHour ) ) ) ) ( SBAR ( WHNP-1 ( WP who ) ) ( S ( VP ( VBZ notes ) ( SBAR ( IN that ) ( S ( NP-SBJ ( NNP CNN ) ) ( VP ( VBZ is ) ( ADJP-PRD ( JJ indispensable ) ( PP ( TO to ) ( NP ( PRP$ his ) ( NN job ) ) ) ) ) ) ) ) ) ) ) )


The network 's salaries have always ranged far below industry standards resulting in a less-experienced work force

( S ( NP-SBJ ( NP ( DT The ) ( NN network ) ( POS 's ) ) ( NNS salaries ) ) ( VP ( VBP have ) ( ADVP-TMP ( RB always ) ) ( VP ( VBN ranged ) ( PP-LOC ( ADVP ( RB far ) ) ( IN below ) ( NP ( NN industry ) ( NNS standards ) ) ) ( S-ADV ( VP ( VBG resulting ) ( PP-CLR ( IN in ) ( NP ( DT a ) ( JJ less-experienced ) ( NN work ) ( NN force ) ) ) ) ) ) ) )


CNN recently gave most employees raises of as much as 15 % but they 're still drastically underpaid compared with the networks

( S ( S ( NP-SBJ ( NNP CNN ) ) ( ADVP-TMP ( RB recently ) ) ( VP ( VBD gave ) ( NP ( JJS most ) ( NNS employees ) ) ( NP ( NP ( NNS raises ) ) ( PP ( IN of ) ( NP ( QP ( RB as ) ( JJ much ) ( IN as ) ( CD 15 ) ) ( NN % ) ) ) ) ) ) ( CC but ) ( S ( NP-SBJ-1 ( PRP they ) ) ( VP ( VBP 're ) ( ADVP-TMP ( RB still ) ) ( VP ( ADVP-MNR ( RB drastically ) ) ( JJ underpaid ) ( PP ( VBN compared ) ( PP ( IN with ) ( NP ( DT the ) ( NNS networks ) ) ) ) ) ) ) )


Says Mr. Mosettig CNN is my wire service they 're on top of everything

( SINV ( VP ( VBZ Says ) ) ( NP-SBJ ( NNP Mr. ) ( NNP Mosettig ) ) ( S-1 ( S ( NP-SBJ ( NNP CNN ) ) ( VP ( VBZ is ) ( NP-PRD ( PRP$ my ) ( NN wire ) ( NN service ) ) ) ) ( S ( NP-SBJ ( PRP they ) ) ( VP ( VBP 're ) ( PP-LOC-PRD ( IN on ) ( NP ( NP ( NN top ) ) ( PP ( IN of ) ( NP ( NN everything ) ) ) ) ) ) ) ) )


But to improve they 've really got to make the investment in people

( S ( CC But ) ( S-PRP ( VP ( TO to ) ( VP ( VB improve ) ) ) ) ( NP-SBJ-1 ( PRP they ) ) ( VP ( VBP 've ) ( ADVP ( RB really ) ) ( VP ( VBD got ) ( S ( VP ( TO to ) ( VP ( VB make ) ( NP ( NP ( DT the ) ( NN investment ) ) ( PP ( IN in ) ( NP ( NNS people ) ) ) ) ) ) ) ) ) )


In any case cable-TV-system operators have reason to fear any tinkering with CNN 's format

( S ( PP-LOC ( IN In ) ( NP ( DT any ) ( NN case ) ) ) ( NP-SBJ ( NN cable-TV-system ) ( NNS operators ) ) ( VP ( VBP have ) ( NP ( NP ( NN reason ) ) ( SBAR ( S ( VP ( TO to ) ( VP ( VB fear ) ( NP ( NP ( DT any ) ( NN tinkering ) ) ( PP ( IN with ) ( NP ( NP ( NNP CNN ) ( POS 's ) ) ( NN format ) ) ) ) ) ) ) ) ) ) )


They market cable-TV on the very grazing opportunities CNN seeks to discourage

( S ( NP-SBJ ( PRP They ) ) ( VP ( VBP market ) ( NP ( NN cable-TV ) ) ( PP ( IN on ) ( NP ( NP ( DT the ) ( JJ very ) ( NN grazing ) ( NNS opportunities ) ) ( SBAR ( S ( NP-SBJ-1 ( NNP CNN ) ) ( VP ( VBZ seeks ) ( S ( VP ( TO to ) ( VP ( VB discourage ) ) ) ) ) ) ) ) ) ) )


We would obviously be upset if those kinds of services evolved into more general-interest long-format programming says Robert Stengel senior vice president programming of Continental Cablevision Inc. which holds a 2 % stake in Turner Broadcasting

( SINV ( S-TPC-2 ( NP-SBJ ( PRP We ) ) ( VP ( MD would ) ( ADVP ( RB obviously ) ) ( VP ( VB be ) ( ADJP-PRD ( VBN upset ) ) ( SBAR-ADV ( IN if ) ( S ( NP-SBJ ( NP ( DT those ) ( NNS kinds ) ) ( PP ( IN of ) ( NP ( NNS services ) ) ) ) ( VP ( VBD evolved ) ( PP-CLR ( IN into ) ( NP ( ADJP ( JJR more ) ( JJ general-interest ) ) ( JJ long-format ) ( NN programming ) ) ) ) ) ) ) ) ) ( VP ( VBZ says ) ) ( NP-SBJ ( NP ( NNP Robert ) ( NNP Stengel ) ) ( NP ( NP ( JJ senior ) ( NN vice ) ( NN president ) ) ( NP ( NN programming ) ) ) ( PP ( IN of ) ( NP ( NP ( NNP Continental ) ( NNP Cablevision ) ( NNP Inc. ) ) ( SBAR ( WHNP-1 ( WDT which ) ) ( S ( VP ( VBZ holds ) ( NP ( NP ( DT a ) ( ADJP ( CD 2 ) ( NN % ) ) ( NN stake ) ) ( PP-LOC ( IN in ) ( NP ( NNP Turner ) ( NNP Broadcasting ) ) ) ) ) ) ) ) ) ) )


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

( S ( S ( NP-SBJ ( JJ Small ) ( NNS investors ) ) ( VP ( VBD matched ) ( NP ( PRP$ their ) ( JJ big ) ( JJ institutional ) ( NNS brethren ) ) ( PP ( IN in ) ( NP ( NN anxiety ) ) ) ( PP-TMP ( IN over ) ( NP ( DT the ) ( NN weekend ) ) ) ) ) ( CC but ) ( S ( NP-SBJ-2 ( JJS most ) ) ( VP ( VP ( VBD seemed ) ( S ( VP ( TO to ) ( VP ( VB be ) ( VP ( VBG taking ) ( NP ( DT a ) ( JJ philosophical ) ( NN approach ) ) ) ) ) ) ) ( CC and ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ-1 ( PRP they ) ) ( VP ( VBD were ) ( VP ( VBN resigned ) ( PP-CLR ( TO to ) ( S-NOM ( VP ( VBG riding ) ( PRT ( RP out ) ) ( NP ( NP ( DT the ) ( JJS latest ) ( NN storm ) ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( NN stock ) ( NN market ) ) ) ) ) ) ) ) ) ) ) ) ) ) )


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

( SINV ( S-TPC-1 ( NP-SBJ ( PRP I ) ) ( VP ( VBP 'm ) ( RB not ) ( VP ( VBG losing ) ( NP ( NP ( NN faith ) ) ( PP ( IN in ) ( NP ( DT the ) ( NN market ) ) ) ) ) ) ) ( VP ( VBD said ) ) ( NP-SBJ ( NNP Boston ) ( NN lawyer ) ( NNP Christopher ) ( NNP Sullivan ) ) ( SBAR-TMP ( IN as ) ( S ( NP-SBJ ( PRP he ) ) ( VP ( VBD watched ) ( S ( NP-SBJ ( DT the ) ( NN market ) ) ( VP ( NN plunge ) ) ) ( PP-LOC ( IN on ) ( NP ( NP ( DT a ) ( JJ big ) ( NN screen ) ) ( PP-LOC ( IN in ) ( NP ( NP ( NN front ) ) ( PP ( IN of ) ( NP ( DT a ) ( NN brokerage ) ( NN firm ) ) ) ) ) ) ) ) ) ) )


But he 's not so sure about everyone else

( S ( CC But ) ( NP-SBJ ( PRP he ) ) ( VP ( VBZ 's ) ( RB not ) ( ADJP-PRD ( RB so ) ( JJ sure ) ( PP ( IN about ) ( NP ( NP ( NN everyone ) ) ( ADJP ( RB else ) ) ) ) ) ) )


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

( SINV ( S-TPC-2 ( NP-SBJ ( PRP I ) ) ( VP ( VBP think ) ( SBAR ( S ( PP-TMP ( IN on ) ( NP ( NNP Monday ) ) ) ( NP-SBJ-3 ( DT the ) ( JJ small ) ( PRN ( NNS investors ) ) ) ( VP ( VBP are ) ( VP ( VBG going ) ( S ( VP ( TO to ) ( VP ( VB panic ) ( CC and ) ( VB sell ) ) ) ) ) ) ) ) ) ) ( VP ( VBD predicted ) ) ( NP-SBJ ( NP ( NNP Mr. ) ( NNP Sullivan ) ) ( SBAR ( WHNP-1 ( WP$ whose ) ( NNS investments ) ) ( S ( VP ( VBP include ) ( NP ( NP ( NP ( NNP AMR ) ( NNP Corp. ) ( POS 's ) ) ( NNP American ) ( NNP Airlines ) ( NN unit ) ) ( CC and ) ( NP ( JJ several ) ( JJ mutual ) ( NNS funds ) ) ) ) ) ) ) )


And I think institutions are going to come in and buy

( S ( CC And ) ( NP-SBJ ( PRP I ) ) ( VP ( VBP think ) ( SBAR ( S ( NP-SBJ-1 ( NNS institutions ) ) ( VP ( VBP are ) ( VP ( VBG going ) ( S ( VP ( TO to ) ( VP ( VP ( VB come ) ( ADVP-DIR ( IN in ) ) ) ( CC and ) ( VP ( VB buy ) ) ) ) ) ) ) ) ) ) )


I 'm going to hold on

( S ( NP-SBJ-1 ( PRP I ) ) ( VP ( VBP 'm ) ( VP ( VBG going ) ( S ( VP ( TO to ) ( VP ( VB hold ) ( PRT ( RP on ) ) ) ) ) ) ) )


If I sell now I 'll take a big loss

( S ( SBAR-ADV ( IN If ) ( S ( NP-SBJ ( PRP I ) ) ( VP ( VBP sell ) ( ADVP-TMP ( RB now ) ) ) ) ) ( NP-SBJ ( PRP I ) ) ( VP ( MD 'll ) ( VP ( VB take ) ( NP ( DT a ) ( JJ big ) ( NN loss ) ) ) ) )


Some evinced an optimism that had been rewarded when they did n't flee the market in 1987

( S ( NP-SBJ ( DT Some ) ) ( VP ( VBD evinced ) ( NP ( NP ( DT an ) ( NN optimism ) ) ( SBAR ( WHNP-2 ( WDT that ) ) ( S ( VP ( VBD had ) ( VP ( VBN been ) ( VP ( VBN rewarded ) ( SBAR-TMP ( WHADVP-3 ( WRB when ) ) ( S ( NP-SBJ ( PRP they ) ) ( VP ( VBD did ) ( RB n't ) ( VP ( VB flee ) ( NP ( DT the ) ( NN market ) ) ( PP-TMP ( IN in ) ( NP ( CD 1987 ) ) ) ) ) ) ) ) ) ) ) ) ) ) )


Oh I bet it 'll be up 50 points on Monday said Lucy Crump a 78-year-old retired housewife in Lexington Ky

( SINV ( S-TPC-1 ( INTJ ( UH Oh ) ) ( NP-SBJ ( PRP I ) ) ( VP ( VBP bet ) ( SBAR ( S ( NP-SBJ ( PRP it ) ) ( VP ( MD 'll ) ( VP ( VB be ) ( ADVP-PRD ( RB up ) ( NP ( CD 50 ) ( NNS points ) ) ) ( PP-TMP ( IN on ) ( NP ( NNP Monday ) ) ) ) ) ) ) ) ) ( VP ( VBD said ) ) ( NP-SBJ ( NP ( NNP Lucy ) ( NNP Crump ) ) ( NP ( NP ( DT a ) ( JJ 78-year-old ) ( JJ retired ) ( NN housewife ) ) ( PP-LOC ( IN in ) ( NP ( NP ( NNP Lexington ) ) ( NP ( NNP Ky ) ) ) ) ) ) )


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

( S ( NP-SBJ ( NNP Mrs. ) ( NNP Crump ) ) ( VP ( VBD said ) ( SBAR ( S ( S ( NP-SBJ ( NP ( PRP$ her ) ( NNP Ashwood ) ( NNP Investment ) ( NNP Club ) ( POS 's ) ) ( NN portfolio ) ) ( VP ( VBD lost ) ( NP ( NP ( RB about ) ( NN one-third ) ) ( PP ( IN of ) ( NP ( PRP$ its ) ( NN value ) ) ) ) ( PP-TMP ( VBG following ) ( NP ( DT the ) ( NNP Black ) ( NNP Monday ) ( NN crash ) ) ) ) ) ( CC but ) ( S ( NP-SBJ-1 ( DT no ) ( NN one ) ) ( VP ( VBD got ) ( VP ( VBN discouraged ) ) ) ) ( CC and ) ( S ( NP-SBJ ( PRP we ) ) ( VP ( VBD gained ) ( NP ( DT that ) ) ( PRT ( RP back ) ) ( PRN ( CC and ) ( NP ( JJR more ) ) ) ) ) ) ) ) )


At the annual congress of the National Association of Investors Corp. at the Hyatt Regency hotel in Minneapolis the scene was calm

( S ( PP-LOC ( IN At ) ( NP ( NP ( DT the ) ( JJ annual ) ( NN congress ) ) ( PP ( IN of ) ( NP ( DT the ) ( NAC ( NNP National ) ( NNP Association ) ( PP ( IN of ) ( NP ( NNP Investors ) ) ) ) ( NNP Corp. ) ) ) ( PP-LOC ( IN at ) ( NP ( NP ( DT the ) ( NNP Hyatt ) ( NNP Regency ) ( NN hotel ) ) ( PP-LOC ( IN in ) ( NP ( NNS Minneapolis ) ) ) ) ) ) ) ( NP-SBJ ( DT the ) ( NN scene ) ) ( VP ( VBD was ) ( ADJP-PRD ( JJ calm ) ) ) )


Some 500 investors representing investor clubs from around the U.S. were attending when the market started to slide Friday

( S ( NP-SBJ ( NP ( QP ( RB Some ) ( CD 500 ) ) ( NNS investors ) ) ( VP ( VBG representing ) ( NP ( NP ( NN investor ) ( NNS clubs ) ) ( PP ( IN from ) ( NP ( IN around ) ( DT the ) ( NNP U.S. ) ) ) ) ) ) ( VP ( VBD were ) ( VP ( VBG attending ) ( SBAR-TMP ( WHADVP-2 ( WRB when ) ) ( S ( NP-SBJ-1 ( DT the ) ( NN market ) ) ( VP ( VBD started ) ( S ( VP ( TO to ) ( VP ( VB slide ) ) ) ) ( NP-TMP ( NNP Friday ) ) ) ) ) ) ) )


But Robert Showalter an official of the association said no special bulletins or emergency meetings of the investors ' clubs are planned

( S ( CC But ) ( NP-SBJ ( NP ( NNP Robert ) ( NNP Showalter ) ) ( NP ( NP ( DT an ) ( NN official ) ) ( PP ( IN of ) ( NP ( DT the ) ( NN association ) ) ) ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ-1 ( NP ( DT no ) ( JJ special ) ( NX ( NX ( NNS bulletins ) ) ( CC or ) ( NX ( NN emergency ) ( NNS meetings ) ) ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( NNS investors ) ( POS ' ) ) ( NNS clubs ) ) ) ) ( VP ( VBP are ) ( VP ( VBN planned ) ) ) ) ) ) )


In fact some of the association 's members long-term buy-and-hold investors welcomed the drop in prices

( S ( PP ( IN In ) ( NP ( NN fact ) ) ) ( NP-SBJ ( NP ( NP ( DT some ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( NN association ) ( POS 's ) ) ( NNS members ) ) ) ) ( PRN ( NP ( JJ long-term ) ( JJ buy-and-hold ) ( NNS investors ) ) ) ) ( VP ( VBD welcomed ) ( NP ( NP ( DT the ) ( NN drop ) ) ( PP-LOC ( IN in ) ( NP ( NNS prices ) ) ) ) ) )


We hope to take advantage of it said John Snyder a member of a Los Angeles investors ' club

( SINV ( S-TPC-1 ( NP-SBJ-2 ( PRP We ) ) ( VP ( VBP hope ) ( S ( VP ( TO to ) ( VP ( VB take ) ( NP-CLR ( NN advantage ) ) ( PP-CLR ( IN of ) ( NP ( PRP it ) ) ) ) ) ) ) ) ( VP ( VBD said ) ) ( NP-SBJ ( NP ( NNP John ) ( NNP Snyder ) ) ( NP ( NP ( DT a ) ( NN member ) ) ( PP ( IN of ) ( NP ( DT a ) ( NNP Los ) ( NNP Angeles ) ( NP ( NNS investors ) ( POS ' ) ) ( NN club ) ) ) ) ) )


He has four stocks in mind to buy if the prices drop to the level he wants

( S ( NP-SBJ ( PRP He ) ) ( VP ( VBZ has ) ( NP ( NP ( CD four ) ( NNS stocks ) ) ) ( PP-LOC-CLR ( IN in ) ( NP ( NN mind ) ) ) ( SBAR-3 ( S ( VP ( TO to ) ( VP ( VB buy ) ( SBAR-ADV ( IN if ) ( S ( NP-SBJ ( DT the ) ( NNS prices ) ) ( VP ( VBP drop ) ( PP-DIR ( TO to ) ( NP ( NP ( DT the ) ( NN level ) ) ( SBAR ( S ( NP-SBJ ( PRP he ) ) ( VP ( VBZ wants ) ) ) ) ) ) ) ) ) ) ) ) ) ) )


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

( S ( S ( NP-SBJ ( RB Not ) ( NN everyone ) ) ( VP ( VBZ is ) ( VP ( VBG reacting ) ( ADVP-MNR ( RB so ) ( RB calmly ) ) ) ) ) ( ADVP ( RB however ) ) ( CC and ) ( S ( NP-SBJ ( JJ many ) ) ( VP ( VBP wonder ) ( PP-CLR ( IN about ) ( NP ( NP ( DT the ) ( JJ long-term ) ( NNS implications ) ) ( PP ( IN of ) ( NP ( SBAR-NOM ( WHNP-2 ( WP what ) ) ( S ( VP ( VBZ is ) ( VP ( ADVP ( RB widely ) ) ( VBN viewed ) ( PP-CLR ( IN as ) ( NP ( NP ( DT the ) ( NN cause ) ) ( PP ( IN of ) ( NP ( NP ( NNP Friday ) ( POS 's ) ) ( NN slide ) ) ) ) ) ) ) ) ) ( NP ( NP ( NN reluctance ) ) ( PP ( IN by ) ( NP ( NNS banks ) ) ) ( S-3 ( VP ( TO to ) ( VP ( VB provide ) ( NP ( NN financing ) ) ( PP-PRP ( IN for ) ( NP ( NP ( DT a ) ( NN buy-out ) ) ( PP ( IN of ) ( NP ( NP ( NNP UAL ) ( NNP Corp. ) ) ( NP ( NP ( NN parent ) ) ( PP ( IN of ) ( NP ( NNP United ) ( NNP Airlines ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )


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

( S ( NP-SBJ ( NP ( NNP Marc ) ( NNP Perkins ) ) ( NP ( DT a ) ( NAC-LOC ( NNP Tampa ) ( NNP Fla. ) ) ( NN investment ) ( NN banker ) ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( DT the ) ( NN market ) ( NN drop ) ) ( VP ( VBZ is ) ( NP-PRD ( NP ( CD one ) ) ( PP ( IN of ) ( NP ( NP ( DT a ) ( JJ tremendous ) ( NN number ) ) ( PP ( IN of ) ( NP ( NNS signs ) ( SBAR ( IN that ) ( S ( NP-SBJ ( DT the ) ( JJ leveraged ) ( NN take-out ) ( NN era ) ) ( VP ( VBZ is ) ( VP ( VBG ending ) ) ) ) ) ) ) ) ) ) ) ) ) ) )


There 's no question that there 's a general distaste for leverage among lenders

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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

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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

( S ( NP-SBJ ( NP ( NNP Sara ) ( NNP Albert ) ) ( NP ( DT a ) ( JJ 34-year-old ) ( NNP Dallas ) ( NN law ) ( NN student ) ) ) ( VP ( VBZ says ) ( SBAR ( S ( NP-SBJ ( PRP she ) ) ( VP ( VBZ 's ) ( ADJP-PRD ( RB generally ) ( JJ skittish ) ( PP ( IN about ) ( NP ( NP ( DT the ) ( NN stock ) ( NN market ) ) ( CC and ) ( NP ( NP ( DT the ) ( NN takeover ) ( NN activity ) ) ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( VP ( VBZ seems ) ( S ( VP ( TO to ) ( VP ( VB fuel ) ( NP ( PRP it ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )


I have this feeling that it 's built on sand she says that the market rises but there 's no foundation to it

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She and her husband pulled most of their investments out of the market after the 1987 crash although she still owns some Texaco stock

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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

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Others wonder how many more of these shocks the small investor can stand

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We all assumed October '87 was a one-time shot said San Francisco attorney David Greenberg

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We told the little guy it could only happen once in a lifetime come on back

( S ( NP-SBJ ( PRP We ) ) ( VP ( VBD told ) ( NP ( DT the ) ( JJ little ) ( NN guy ) ) ( SBAR ( S ( S ( NP-SBJ ( PRP it ) ) ( VP ( MD could ) ( ADVP ( RB only ) ) ( VP ( VB happen ) ( ADVP-TMP ( RB once ) ) ( PP-TMP ( IN in ) ( NP ( DT a ) ( NN lifetime ) ) ) ) ) ) ( S ( VP ( VBN come ) ( PRT ( RP on ) ) ( ADVP-DIR ( RB back ) ) ) ) ) ) ) )


Now it 's happening again

( S ( ADVP-TMP ( RB Now ) ) ( NP-SBJ ( PRP it ) ) ( VP ( VBZ 's ) ( VP ( VBG happening ) ( ADVP-TMP ( RB again ) ) ) ) )


Mr. Greenberg got out just before the 1987 crash and to his regret never went back even as the market soared

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This time he 's ready to buy in when the panic wears off

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Still he adds We ca n't have this kind of thing happen very often

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When the little guy gets frightened the big guys hurt badly

( S ( SBAR-TMP ( WHADVP-1 ( WRB When ) ) ( S ( NP-SBJ ( DT the ) ( JJ little ) ( NN guy ) ) ( VP ( VBZ gets ) ( ADJP-PRD ( JJ frightened ) ) ) ) ) ( NP-SBJ ( DT the ) ( JJ big ) ( NNS guys ) ) ( VP ( VBP hurt ) ( ADVP-MNR ( RB badly ) ) ) )


Merrill Lynch ca n't survive without the little guy

( S ( NP-SBJ ( NNP Merrill ) ( NNP Lynch ) ) ( VP ( MD ca ) ( RB n't ) ( VP ( VB survive ) ( PP ( IN without ) ( NP ( DT the ) ( JJ little ) ( NN guy ) ) ) ) ) )


Small investors have tiptoed back into the market following Black Monday but mostly through mutual funds

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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

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Hugo Quackenbush senior vice president at Charles Scwhab Corp. says Schwab customers have been neutral to cautious recently about stocks

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Individual investors are still angry about program trading Mr. Quackenbush says

( S ( S-TPC-1 ( NP-SBJ ( JJ Individual ) ( NNS investors ) ) ( VP ( VBP are ) ( ADVP-TMP ( RB still ) ) ( ADJP-PRD ( JJ angry ) ( PP ( IN about ) ( NP ( NN program ) ( NN trading ) ) ) ) ) ) ( NP-SBJ ( NNP Mr. ) ( NNP Quackenbush ) ) ( VP ( VBZ says ) ) )


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

( S ( NP-SBJ ( NP ( NNP Avner ) ( NNP Arbel ) ) ( NP ( DT a ) ( NNP Cornell ) ( NNP University ) ( NN finance ) ( NN professor ) ) ) ( VP ( VBZ says ) ( SBAR ( S ( NP-SBJ-1 ( NN government ) ( NNS regulators ) ) ( VP ( MD will ) ( VP ( VB have ) ( S ( VP ( TO to ) ( VP ( ADVP-MNR ( RBR more ) ( RB closely ) ) ( VB control ) ( NP ( NN program ) ( NN trading ) ) ) ) ) ( S-PRP ( VP ( TO to ) ( VP ( VB win ) ( PRT ( RP back ) ) ( NP ( NP ( DT the ) ( NN confidence ) ) ( PP ( IN of ) ( NP ( DT the ) ( JJ small ) ( NN investor ) ) ) ) ) ) ) ) ) ) ) ) )


But it 's not only the stock market that has some small investors worried

( S-CLF ( CC But ) ( NP-SBJ ( PRP it ) ) ( VP ( VBZ 's ) ( RB not ) ( NP-PRD ( RB only ) ( DT the ) ( NN stock ) ( NN market ) ) ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( VP ( VBZ has ) ( S ( NP-SBJ-2 ( DT some ) ( JJ small ) ( NNS investors ) ) ( VP ( JJ worried ) ) ) ) ) ) ) )


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

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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

( S ( S-TPC-2 ( NP-SBJ ( DT These ) ( JJ high ) ( NNS rollers ) ) ( VP ( VBD took ) ( NP ( DT a ) ( JJ big ) ( NN bath ) ) ( NP-TMP ( NN today ) ) ) ) ( NP-SBJ ( PRP he ) ) ( VP ( VBD said ) ( PP-LOC ( IN in ) ( NP ( NP ( PRP$ his ) ( NN showroom ) ) ( SBAR ( WHNP-1 ( WDT which ) ) ( S ( VP ( VBZ is ) ( PP-LOC-PRD ( IN within ) ( NP ( NP ( DT a ) ( JJ few ) ( NNS miles ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( ADJP ( JJ multi-million ) ( NN dollar ) ) ( NNS homes ) ) ( PP ( IN of ) ( NP ( NP ( DT some ) ) ( PP ( IN of ) ( NP ( NP ( NNP Houston ) ( POS 's ) ) ( JJS richest ) ( NNS citizens ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )


And I can tell you that a high roller is n't going to come in tomorrow and buy a Chrysler TC by Maserati

( S ( CC And ) ( NP-SBJ ( PRP I ) ) ( VP ( MD can ) ( VP ( VB tell ) ( NP ( PRP you ) ) ( SBAR ( IN that ) ( S ( NP-SBJ-1 ( DT a ) ( JJ high ) ( NN roller ) ) ( VP ( VBZ is ) ( RB n't ) ( VP ( VBG going ) ( S ( VP ( TO to ) ( VP ( VP ( VB come ) ( ADVP-DIR ( IN in ) ) ( NP-TMP ( NN tomorrow ) ) ) ( CC and ) ( VP ( VB buy ) ( NP ( NP ( DT a ) ( NNP Chrysler ) ( NNP TC ) ) ( PP ( IN by ) ( NP ( NNP Maserati ) ) ) ) ) ) ) ) ) ) ) ) ) ) )


And finally there were the gloaters

( S ( CC And ) ( ADVP-TMP ( RB finally ) ) ( NP-SBJ ( EX there ) ) ( VP ( VBD were ) ( NP-PRD ( DT the ) ( NNS gloaters ) ) ) )


I got out in 1987

( S ( NP-SBJ ( PRP I ) ) ( VP ( VBD got ) ( ADJP-PRD ( RP out ) ) ( PP-TMP ( IN in ) ( NP ( CD 1987 ) ) ) ) )


Everything said Pascal Antori an Akron Ohio plumbing contractor who was visiting Chicago and stopped by Fidelity Investments ' LaSalle Street office

( SINV ( FRAG-TPC-2 ( NP ( NN Everything ) ) ) ( VP ( VBD said ) ) ( NP-SBJ ( NP ( NNP Pascal ) ( NNP Antori ) ) ( NP ( NP ( NP ( DT an ) ( NAC-LOC ( NNP Akron ) ( NNP Ohio ) ) ( NN plumbing ) ( NN contractor ) ) ( SBAR ( WHNP-1 ( WP who ) ) ( S ( VP ( VP ( VBD was ) ( VP ( VBG visiting ) ( NP ( NNP Chicago ) ) ) ) ( CC and ) ( VP ( VBD stopped ) ( PP-CLR ( IN by ) ( NP ( NP ( NNP Fidelity ) ( NNP Investments ) ( POS ' ) ) ( NNP LaSalle ) ( NNP Street ) ( NN office ) ) ) ) ) ) ) ) ) ) )


I just stopped by to see how much I would have lost

( S ( NP-SBJ-1 ( PRP I ) ) ( ADVP ( RB just ) ) ( VP ( VBD stopped ) ( PP-CLR ( RP by ) ) ( S-PRP ( VP ( TO to ) ( VP ( VB see ) ( SBAR ( WHADVP-2 ( WRB how ) ( JJ much ) ) ( S ( NP-SBJ ( PRP I ) ) ( VP ( MD would ) ( VP ( VB have ) ( VP ( VBN lost ) ) ) ) ) ) ) ) ) ) )


Would Mr. Antori ever get back in

( SQ ( MD Would ) ( NP-SBJ ( NNP Mr. ) ( NNP Antori ) ) ( ADVP-TMP ( RB ever ) ) ( VP ( VB get ) ( ADVP-CLR ( RB back ) ) ( ADJP-PRD ( RP in ) ) ) )


Are you kidding

( SQ ( VBP Are ) ( NP-SBJ ( PRP you ) ) ( VP ( VBG kidding ) ) )


When it comes to money Once bitten 2,000 times shy

( S ( SBAR-TMP ( WHADVP-1 ( WRB When ) ) ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBZ comes ) ( PP-CLR ( TO to ) ( NP ( NN money ) ) ) ) ) ) ( S-ADV ( ADVP-TMP ( RB Once ) ) ( VP ( VBN bitten ) ) ) ( ADJP-PRD ( NP ( CD 2,000 ) ( NNS times ) ) ( JJ shy ) ) )


CityFed Financial Corp. said it expects to report a loss of at least 125 million to 150 million for the third quarter

( S ( NP-SBJ ( NNP CityFed ) ( NNP Financial ) ( NNP Corp. ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ-1 ( PRP it ) ) ( VP ( VBZ expects ) ( S ( VP ( TO to ) ( VP ( VB report ) ( NP ( NP ( DT a ) ( NN loss ) ) ( PP ( IN of ) ( NP ( QP ( IN at ) ( JJS least ) ( CD 125 ) ( CD million ) ( TO to ) ( CD 150 ) ( CD million ) ) ) ) ( PP ( IN for ) ( NP ( DT the ) ( JJ third ) ( NN quarter ) ) ) ) ) ) ) ) ) ) ) )


In the year-earlier period CityFed had net income of 485,000 but no per-share earnings

( S ( PP-TMP ( IN In ) ( NP ( DT the ) ( JJ year-earlier ) ( NN period ) ) ) ( NP-SBJ ( NNP CityFed ) ) ( VP ( VBD had ) ( NP ( NP ( NP ( JJ net ) ( NN income ) ) ( PP ( IN of ) ( NP ( CD 485,000 ) ) ) ) ( CC but ) ( NP ( DT no ) ( JJ per-share ) ( NNS earnings ) ) ) ) )


CityFed 's president and chief executive officer John Atherton said the loss stems from several factors

( S ( NP-SBJ ( NP ( NP ( NNP CityFed ) ( POS 's ) ) ( NX ( NX ( NN president ) ) ( CC and ) ( NX ( JJ chief ) ( JJ executive ) ( NN officer ) ) ) ) ( NP ( NNP John ) ( NNP Atherton ) ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( DT the ) ( NN loss ) ) ( VP ( VBZ stems ) ( PP-CLR ( IN from ) ( NP ( JJ several ) ( NNS factors ) ) ) ) ) ) ) )


He said nonperforming assets rose to slightly more than 700 million from 516 million between June and September

( S ( NP-SBJ ( PRP He ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( JJ nonperforming ) ( NNS assets ) ) ( VP ( VBD rose ) ( PP-DIR ( TO to ) ( NP ( QP ( RB slightly ) ( JJR more ) ( IN than ) ( CD 700 ) ( CD million ) ) ) ) ( PP-DIR ( IN from ) ( NP ( QP ( CD 516 ) ( CD million ) ) ) ) ( PP-TMP ( IN between ) ( NP ( NNP June ) ( CC and ) ( NNP September ) ) ) ) ) ) ) )


Approximately 85 % of the total consisted of nonperforming commercial real estate assets

( S ( NP-SBJ ( NP ( QP ( RB Approximately ) ( CD 85 ) ) ( NN % ) ) ( PP ( IN of ) ( NP ( DT the ) ( NN total ) ) ) ) ( VP ( VBD consisted ) ( PP-CLR ( IN of ) ( NP ( JJ nonperforming ) ( JJ commercial ) ( JJ real ) ( NN estate ) ( NNS assets ) ) ) ) )


Accordingly CityFed estimated that it will provide between 85 million and 110 million for credit losses in the third quarter

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CityFed added that significant additional loan-loss provisions may be required by federal regulators as part of the current annual examination of City Federal Savings Bank CityFed 's primary subsidiary based in Somerset N.J

( S ( NP-SBJ-1 ( NNP CityFed ) ) ( VP ( VBD added ) ( SBAR ( IN that ) ( S ( NP-SBJ ( JJ significant ) ( JJ additional ) ( JJ loan-loss ) ( NNS provisions ) ) ( VP ( MD may ) ( VP ( VB be ) ( VP ( VBN required ) ( PP ( IN by ) ( NP-LGS ( JJ federal ) ( NNS regulators ) ) ) ( PP ( IN as ) ( NP ( NP ( NN part ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( JJ current ) ( JJ annual ) ( NN examination ) ) ( PP ( IN of ) ( NP ( NP ( NNP City ) ( NNP Federal ) ( NNP Savings ) ( NNP Bank ) ) ( NP ( NP ( NNP CityFed ) ( POS 's ) ) ( JJ primary ) ( NN subsidiary ) ) ( VP ( VBN based ) ( PP-LOC-CLR ( IN in ) ( NP ( NP ( NNP Somerset ) ) ( NP ( NNP N.J ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )


City Federal operates 105 banking offices in New Jersey and Florida

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Mr. Atherton said CityFed will also mark its portfolio of high-yield corporate bonds to market as a result of federal legislation requiring that savings institutions divest themselves of such bonds

( S ( NP-SBJ ( NNP Mr. ) ( NNP Atherton ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( NNP CityFed ) ) ( VP ( MD will ) ( ADVP ( RB also ) ) ( VP ( VB mark ) ( NP ( NP ( PRP$ its ) ( NN portfolio ) ) ( PP ( IN of ) ( NP ( JJ high-yield ) ( JJ corporate ) ( NNS bonds ) ) ) ) ( PP-CLR ( TO to ) ( NP ( NN market ) ) ) ( PP-PRP ( IN as ) ( NP ( NP ( DT a ) ( NN result ) ) ( PP ( IN of ) ( NP ( NP ( JJ federal ) ( NN legislation ) ) ( VP ( VBG requiring ) ( SBAR ( IN that ) ( S ( NP-SBJ ( NNS savings ) ( NNS institutions ) ) ( VP ( VB divest ) ( NP ( PRP themselves ) ) ( PP-CLR ( IN of ) ( NP ( JJ such ) ( NNS bonds ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )


That action CityFed said will result in a charge against third-quarter results of approximately 30 million

( S-1 ( NP-SBJ ( DT That ) ( NN action ) ) ( PRN ( S ( NP-SBJ ( NNP CityFed ) ) ( VP ( VBD said ) ) ) ) ( VP ( MD will ) ( VP ( VB result ) ( PP-CLR ( IN in ) ( NP ( NP ( DT a ) ( NN charge ) ) ( PP ( IN against ) ( NP ( JJ third-quarter ) ( NNS results ) ) ) ( PP ( IN of ) ( NP ( QP ( RB approximately ) ( CD 30 ) ( CD million ) ) ) ) ) ) ) ) )


CityFed also said it expects to shed its remaining mortgage loan origination operations outside its principal markets in New Jersey and Florida and as a result is taking a charge for discontinued operations

( S ( NP-SBJ ( NNP CityFed ) ) ( ADVP ( RB also ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ-1 ( PRP it ) ) ( VP ( VP ( VBZ expects ) ( S ( VP ( TO to ) ( VP ( VB shed ) ( NP ( NP ( PRP$ its ) ( VBG remaining ) ( NN mortgage ) ( NN loan ) ( NN origination ) ( NNS operations ) ) ( PP-LOC ( IN outside ) ( NP ( NP ( PRP$ its ) ( JJ principal ) ( NNS markets ) ) ( PP-LOC ( IN in ) ( NP ( NP ( NNP New ) ( NNP Jersey ) ) ( CC and ) ( NP ( NNP Florida ) ) ) ) ) ) ) ) ) ) ) ( CC and ) ( VP ( PP-PRP ( IN as ) ( NP ( DT a ) ( NN result ) ) ) ( VBZ is ) ( VP ( VBG taking ) ( NP ( NP ( DT a ) ( NN charge ) ) ( PP ( IN for ) ( NP ( JJ discontinued ) ( NNS operations ) ) ) ) ) ) ) ) ) ) )


All these actions Mr. Atherton said will result in a loss of 125 million to 150 million for the third quarter

( S-1 ( NP-SBJ ( PDT All ) ( DT these ) ( NNS actions ) ) ( PRN ( S ( NP-SBJ ( NNP Mr. ) ( NNP Atherton ) ) ( VP ( VBD said ) ) ) ) ( VP ( MD will ) ( VP ( VB result ) ( PP-CLR ( IN in ) ( NP ( NP ( DT a ) ( NN loss ) ) ( PP ( IN of ) ( NP ( NP ( QP ( CD 125 ) ( CD million ) ) ) ( TO to ) ( NP ( QP ( CD 150 ) ( CD million ) ) ) ) ) ( PP ( IN for ) ( NP ( DT the ) ( JJ third ) ( NN quarter ) ) ) ) ) ) ) )


He added however Depending on the resolution of certain accounting issues relating to mortgages servicing and the outcome of the annual examination of City Federal currently in progress with respect to the appropriate level of loan loss reserves the total loss for the quarter could significantly exceed this range

( S ( NP-SBJ ( PRP He ) ) ( VP ( VBD added ) ( ADVP ( RB however ) ) ( SBAR ( S ( PP ( VBG Depending ) ( PP ( IN on ) ( NP ( NP ( NP ( DT the ) ( NN resolution ) ) ( PP ( IN of ) ( NP ( NP ( JJ certain ) ( NN accounting ) ( NNS issues ) ) ( VP ( VBG relating ) ( PP-CLR ( TO to ) ( NP ( NNS mortgages ) ( NN servicing ) ) ) ) ) ) ) ( CC and ) ( NP ( NP ( DT the ) ( NN outcome ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( JJ annual ) ( NN examination ) ) ( PP ( IN of ) ( NP ( NNP City ) ( NNP Federal ) ) ) ( PP ( ADVP-TMP ( RB currently ) ) ( IN in ) ( NP ( NN progress ) ) ) ) ) ( PP ( IN with ) ( NP ( NP ( NN respect ) ) ( PP ( TO to ) ( NP ( NP ( DT the ) ( JJ appropriate ) ( NN level ) ) ( PP ( IN of ) ( NP ( NN loan ) ( NN loss ) ( NNS reserves ) ) ) ) ) ) ) ) ) ) ) ( NP-SBJ ( NP ( DT the ) ( JJ total ) ( NN loss ) ) ( PP ( IN for ) ( NP ( DT the ) ( NN quarter ) ) ) ) ( VP ( MD could ) ( VP ( ADVP-MNR ( RB significantly ) ) ( VB exceed ) ( NP ( DT this ) ( NN range ) ) ) ) ) ) ) )


Financial Corp. of Santa Barbara filed suit against former stock speculator Ivan F. Boesky and Drexel Burnham Lambert Inc. charging they defrauded the thrift by concealing their relationship when persuading it to buy 284 million in high-yield high-risk junk bonds

( S ( NP-SBJ-1 ( NP ( NNP Financial ) ( NNP Corp. ) ) ( PP ( IN of ) ( NP ( NNP Santa ) ( NNP Barbara ) ) ) ) ( VP ( VBD filed ) ( NP ( NN suit ) ) ( PP ( IN against ) ( NP ( NP ( JJ former ) ( NN stock ) ( NN speculator ) ( NNP Ivan ) ( NNP F. ) ( NNP Boesky ) ) ( CC and ) ( NP ( NNP Drexel ) ( NNP Burnham ) ( NNP Lambert ) ( NNP Inc. ) ) ) ) ( S-ADV ( VP ( VBG charging ) ( SBAR ( S ( NP-SBJ-2 ( PRP they ) ) ( VP ( VBD defrauded ) ( NP ( DT the ) ( NN thrift ) ) ( PP-MNR ( IN by ) ( S-NOM ( VP ( VBG concealing ) ( NP ( PRP$ their ) ( NN relationship ) ) ( SBAR-TMP ( WHADVP-3 ( WRB when ) ) ( S ( VP ( VBG persuading ) ( NP-4 ( PRP it ) ) ( S ( VP ( TO to ) ( VP ( VB buy ) ( NP ( NP ( QP ( CD 284 ) ( CD million ) ) ) ( PP ( IN in ) ( NP ( JJ high-yield ) ( JJ high-risk ) ( NN junk ) ( NNS bonds ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )


In a suit filed in federal court Thursday the S&L alleged that a disproportionate number of the bonds it purchased in 1984 declined in value

( S ( PP-LOC ( IN In ) ( NP ( NP ( DT a ) ( NN suit ) ) ( VP ( VBN filed ) ( PP-LOC ( IN in ) ( NP ( JJ federal ) ( NN court ) ) ) ( NP-TMP ( NNP Thursday ) ) ) ) ) ( NP-SBJ ( DT the ) ( NNP S&L ) ) ( VP ( VBD alleged ) ( SBAR ( IN that ) ( S ( NP-SBJ ( NP ( DT a ) ( JJ disproportionate ) ( NN number ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( NNS bonds ) ) ( SBAR ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBD purchased ) ( PP-TMP ( IN in ) ( NP ( CD 1984 ) ) ) ) ) ) ) ) ) ( VP ( VBD declined ) ( PP-LOC-CLR ( IN in ) ( NP ( NN value ) ) ) ) ) ) ) )


Financial Corp. purchased the bonds the suit alleged after Mr. Boesky and Drexel negotiated an agreement for Vagabond Hotels to purchase a 51 % stake in the thrift for about 34 million

( S-1 ( NP-SBJ ( NNP Financial ) ( NNP Corp. ) ) ( VP ( VBD purchased ) ( NP ( DT the ) ( NNS bonds ) ) ( PRN ( S ( NP-SBJ ( DT the ) ( NN suit ) ) ( VP ( VBD alleged ) ) ) ) ( SBAR-TMP ( IN after ) ( S ( NP-SBJ ( NP ( NNP Mr. ) ( NNP Boesky ) ) ( CC and ) ( NP ( NNP Drexel ) ) ) ( VP ( VBD negotiated ) ( NP ( DT an ) ( NN agreement ) ( SBAR ( IN for ) ( S ( NP-SBJ ( NNP Vagabond ) ( NNP Hotels ) ) ( VP ( TO to ) ( VP ( VB purchase ) ( NP ( NP ( DT a ) ( ADJP ( CD 51 ) ( NN % ) ) ( NN stake ) ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( NN thrift ) ) ) ) ( PP-CLR ( IN for ) ( NP ( QP ( RB about ) ( CD 34 ) ( CD million ) ) ) ) ) ) ) ) ) ) ) ) ) )


Vagabond Hotels was controlled by Mr. Boesky who currently is serving a prison term for securities violations

( S ( NP-SBJ-2 ( NNP Vagabond ) ( NNP Hotels ) ) ( VP ( VBD was ) ( VP ( VBN controlled ) ( PP ( IN by ) ( NP-LGS ( NP ( NNP Mr. ) ( NNP Boesky ) ) ( SBAR ( WHNP-3 ( WP who ) ) ( S ( ADVP-TMP ( RB currently ) ) ( VP ( VBZ is ) ( VP ( VBG serving ) ( NP ( DT a ) ( NN prison ) ( NN term ) ) ( PP-PRP ( IN for ) ( NP ( NNS securities ) ( NNS violations ) ) ) ) ) ) ) ) ) ) ) )


Officials at Drexel said they had n't seen the suit and thus could n't comment

( S ( NP-SBJ ( NP ( NNS Officials ) ) ( PP-LOC ( IN at ) ( NP ( NNP Drexel ) ) ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( PRP they ) ) ( VP ( VP ( VBD had ) ( RB n't ) ( VP ( VBN seen ) ( NP ( DT the ) ( NN suit ) ) ) ) ( CC and ) ( ADVP ( RB thus ) ) ( VP ( MD could ) ( RB n't ) ( VP ( VB comment ) ) ) ) ) ) ) )


In addition to 33 million compensatory damages the suit seeks 100 million in punitive damages

( S ( PP ( IN In ) ( NP ( NP ( NN addition ) ) ( PP ( TO to ) ( NP ( ADJP ( QP ( CD 33 ) ( CD million ) ) ) ( JJ compensatory ) ( NNS damages ) ) ) ) ) ( NP-SBJ ( DT the ) ( NN suit ) ) ( VP ( VBZ seeks ) ( NP ( NP ( QP ( CD 100 ) ( CD million ) ) ) ( PP ( IN in ) ( NP ( JJ punitive ) ( NNS damages ) ) ) ) ) )


Also named in the suit is Ivan F. Boesky Corp. and Northview Corp. the successor company to Vagabonds Hotels

( SINV ( ADVP ( RB Also ) ) ( VP-TPC-2 ( VBN named ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( NN suit ) ) ) ) ( VP ( VBZ is ) ) ( NP-SBJ-1 ( NP ( NNP Ivan ) ( NNP F. ) ( NNP Boesky ) ( NNP Corp. ) ) ( CC and ) ( NP ( NP ( NNP Northview ) ( NNP Corp. ) ) ( NP ( NP ( DT the ) ( NN successor ) ( NN company ) ) ( PP ( TO to ) ( NP ( NNP Vagabonds ) ( NNP Hotels ) ) ) ) ) ) )


Northview officials could n't be located

( S ( NP-SBJ-1 ( NNP Northview ) ( NNS officials ) ) ( VP ( MD could ) ( RB n't ) ( VP ( VB be ) ( VP ( VBN located ) ) ) ) )


Financial Corp. said it agreed to buy the bonds after a representative of Ivan F. Boesky Corp. visited it in November 1983 and said Financial Corp. could improve its financial condition by purchasing the bonds

( S ( NP-SBJ ( NNP Financial ) ( NNP Corp. ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ-1 ( PRP it ) ) ( VP ( VBD agreed ) ( S ( VP ( TO to ) ( VP ( VB buy ) ( NP ( DT the ) ( NNS bonds ) ) ) ) ) ( SBAR-TMP ( IN after ) ( S ( NP-SBJ ( NP ( DT a ) ( NN representative ) ) ( PP ( IN of ) ( NP ( NNP Ivan ) ( NNP F. ) ( NNP Boesky ) ( NNP Corp. ) ) ) ) ( VP ( VP ( VBD visited ) ( NP ( PRP it ) ) ( PP-TMP ( IN in ) ( NP ( NNP November ) ( CD 1983 ) ) ) ) ( CC and ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ-2 ( NNP Financial ) ( NNP Corp. ) ) ( VP ( MD could ) ( VP ( VB improve ) ( NP ( PRP$ its ) ( JJ financial ) ( NN condition ) ) ( PP-MNR ( IN by ) ( S-NOM ( VP ( VBG purchasing ) ( NP ( DT the ) ( NNS bonds ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )


Shortly before the visit Mr. Boesky and Drexel representives had met with Financial Corp. officials and had signed a letter of intent to acquire the 51 % stake in the company

( S ( PP-TMP ( ADVP ( RB Shortly ) ) ( IN before ) ( NP ( DT the ) ( NN visit ) ) ) ( NP-SBJ ( NP ( NNP Mr. ) ( NNP Boesky ) ) ( CC and ) ( NP ( NNP Drexel ) ( NNS representives ) ) ) ( VP ( VP ( VBD had ) ( VP ( VBN met ) ( PP-CLR ( IN with ) ( NP ( NNP Financial ) ( NNP Corp. ) ( NNS officials ) ) ) ) ) ( CC and ) ( VP ( VBD had ) ( VP ( VBN signed ) ( NP ( NP ( DT a ) ( NN letter ) ) ( PP ( IN of ) ( NP ( NN intent ) ( S ( VP ( TO to ) ( VP ( VB acquire ) ( NP ( NP ( DT the ) ( ADJP ( CD 51 ) ( NN % ) ) ( NN stake ) ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( NN company ) ) ) ) ) ) ) ) ) ) ) ) ) )


However the agreement was canceled in June 1984

( S ( ADVP ( RB However ) ) ( NP-SBJ-1 ( DT the ) ( NN agreement ) ) ( VP ( VBD was ) ( VP ( VBN canceled ) ( PP-TMP ( IN in ) ( NP ( NNP June ) ( CD 1984 ) ) ) ) ) )


Financial Corp. purchased the bonds in at least 70 different transactions in 1984 and since then has realized 11 million in losses on them the company said

( S ( S-TPC-1 ( NP-SBJ ( NNP Financial ) ( NNP Corp. ) ) ( VP ( VP ( VBD purchased ) ( NP ( DT the ) ( NNS bonds ) ) ( PP-LOC ( IN in ) ( NP ( QP ( IN at ) ( JJS least ) ( CD 70 ) ) ( JJ different ) ( NNS transactions ) ) ) ( PP-TMP ( IN in ) ( NP ( CD 1984 ) ) ) ) ( CC and ) ( VP ( PP-TMP ( IN since ) ( NP ( RB then ) ) ) ( VBZ has ) ( VP ( VBN realized ) ( NP ( NP ( QP ( CD 11 ) ( CD million ) ) ) ( PP ( IN in ) ( NP ( NNS losses ) ) ) ) ( PP ( IN on ) ( NP ( PRP them ) ) ) ) ) ) ) ( NP-SBJ ( DT the ) ( NN company ) ) ( VP ( VBD said ) ) )


Kaufman & Broad Home Corp. said it formed a 53.4 million limited partnership subsidiary to buy land in California suitable for residential development

( S ( NP-SBJ ( NNP Kaufman ) ( CC & ) ( NNP Broad ) ( NNP Home ) ( NNP Corp. ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBD formed ) ( NP ( NP ( DT a ) ( ADJP ( QP ( CD 53.4 ) ( CD million ) ) ) ( JJ limited ) ( NN partnership ) ( NN subsidiary ) ) ( SBAR ( S ( VP ( TO to ) ( VP ( VB buy ) ( NP ( NP ( NN land ) ) ( PP-LOC ( IN in ) ( NP ( NNP California ) ) ) ( ADJP ( JJ suitable ) ( PP ( IN for ) ( NP ( JJ residential ) ( NN development ) ) ) ) ) ) ) ) ) ) ) ) ) ) )


The partnership Kaufman & Broad Land Development Venture Limited Partnership is a 50-50 joint venture with a trust created by institutional clients of Heitman Advisory Corp. a unit of Heitman Financial Corp. a real estate advisory management and development company with offices in Chicago and Beverly Hills Calif

( S ( NP-SBJ ( NP ( DT The ) ( NN partnership ) ) ( NP ( NNP Kaufman ) ( CC & ) ( NNP Broad ) ( NNP Land ) ( NNP Development ) ( NNP Venture ) ( NNP Limited ) ( NNP Partnership ) ) ) ( VP ( VBZ is ) ( NP-PRD ( NP ( DT a ) ( JJ 50-50 ) ( JJ joint ) ( NN venture ) ) ( PP ( IN with ) ( NP ( NP ( DT a ) ( NN trust ) ) ( VP ( VBN created ) ( PP ( IN by ) ( NP-LGS ( NP ( JJ institutional ) ( NNS clients ) ) ( PP ( IN of ) ( NP ( NP ( NNP Heitman ) ( NNP Advisory ) ( NNP Corp. ) ) ( NP ( NP ( DT a ) ( NN unit ) ) ( PP ( IN of ) ( NP ( NP ( NNP Heitman ) ( NNP Financial ) ( NNP Corp. ) ) ( NP ( NP ( DT a ) ( JJ real ) ( NN estate ) ( NN advisory ) ( NN management ) ( CC and ) ( NN development ) ( NN company ) ) ( PP ( IN with ) ( NP ( NP ( NNS offices ) ) ( PP-LOC ( IN in ) ( NP ( NP ( NNP Chicago ) ) ( CC and ) ( NP ( NP ( NNP Beverly ) ( NNP Hills ) ) ( NP ( NNP Calif ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )


Kaufman & Broad a home building company declined to identify the institutional investors

( S ( NP-SBJ-1 ( NP ( NNP Kaufman ) ( CC & ) ( NNP Broad ) ) ( NP ( DT a ) ( NN home ) ( NN building ) ( NN company ) ) ) ( VP ( VBD declined ) ( S ( VP ( TO to ) ( VP ( VB identify ) ( NP ( DT the ) ( JJ institutional ) ( NNS investors ) ) ) ) ) ) )


The land to be purchased by the joint venture has n't yet received zoning and other approvals required for development and part of Kaufman & Broad 's job will be to obtain such approvals

( S ( S ( NP-SBJ ( NP ( DT The ) ( NN land ) ) ( SBAR ( S ( VP ( TO to ) ( VP ( VB be ) ( VP ( VBN purchased ) ( PP ( IN by ) ( NP-LGS ( DT the ) ( JJ joint ) ( NN venture ) ) ) ) ) ) ) ) ) ( VP ( VBZ has ) ( RB n't ) ( ADVP-TMP ( RB yet ) ) ( VP ( VBD received ) ( NP ( NP ( UCP ( NN zoning ) ( CC and ) ( JJ other ) ) ( NNS approvals ) ) ( VP ( VBN required ) ( PP-PRP ( IN for ) ( NP ( NN development ) ) ) ) ) ) ) ) ( CC and ) ( S ( NP-SBJ ( NP ( NN part ) ) ( PP ( IN of ) ( NP ( NP ( NNP Kaufman ) ( CC & ) ( NNP Broad ) ( POS 's ) ) ( NN job ) ) ) ) ( VP ( MD will ) ( VP ( VB be ) ( S-PRD ( VP ( TO to ) ( VP ( VB obtain ) ( NP ( JJ such ) ( NNS approvals ) ) ) ) ) ) ) ) )


The partnership runs the risk that it may not get the approvals for development but in return it can buy land at wholesale rather than retail prices which can result in sizable savings said Bruce Karatz president and chief executive officer of Kaufman & Broad

( SINV ( S-TPC-1 ( S ( NP-SBJ ( DT The ) ( NN partnership ) ) ( VP ( VBZ runs ) ( NP ( DT the ) ( NN risk ) ( SBAR ( IN that ) ( S ( NP-SBJ ( PRP it ) ) ( VP ( MD may ) ( RB not ) ( VP ( VB get ) ( NP ( NP ( DT the ) ( NNS approvals ) ) ( PP ( IN for ) ( NP ( NN development ) ) ) ) ) ) ) ) ) ) ) ( CC but ) ( S ( PP ( IN in ) ( NP ( NN return ) ) ) ( NP-SBJ ( PRP it ) ) ( VP ( MD can ) ( VP ( VB buy ) ( NP ( NN land ) ) ( PP ( IN at ) ( NP ( ADJP ( JJ wholesale ) ( CONJP ( RB rather ) ( IN than ) ) ( JJ retail ) ) ( NNS prices ) ) ) ( SBAR-ADV ( WHNP-2 ( WDT which ) ) ( S ( VP ( MD can ) ( VP ( VB result ) ( PP-CLR ( IN in ) ( NP ( JJ sizable ) ( NNS savings ) ) ) ) ) ) ) ) ) ) ) ( VP ( VBD said ) ) ( NP-SBJ ( NP ( NNP Bruce ) ( NNP Karatz ) ) ( NP ( NP ( NP ( NN president ) ) ( CC and ) ( NP ( JJ chief ) ( JJ executive ) ( NN officer ) ) ) ( PP ( IN of ) ( NP ( NNP Kaufman ) ( CC & ) ( NNP Broad ) ) ) ) ) )


There are really very few companies that have adequate capital to buy properties in a raw state for cash

( S ( NP-SBJ ( EX There ) ) ( VP ( VBP are ) ( ADVP ( RB really ) ) ( NP-PRD ( NP ( ADJP ( RB very ) ( JJ few ) ) ( NNS companies ) ) ( SBAR ( WHNP-3 ( WDT that ) ) ( S ( VP ( VBP have ) ( NP ( NP ( JJ adequate ) ( NN capital ) ) ( SBAR ( S ( VP ( TO to ) ( VP ( VB buy ) ( NP ( NP ( NNS properties ) ) ( PP-LOC ( IN in ) ( NP ( DT a ) ( JJ raw ) ( NN state ) ) ) ) ( PP-CLR ( IN for ) ( NP ( NN cash ) ) ) ) ) ) ) ) ) ) ) ) ) )


Typically developers option property and then once they get the administrative approvals they buy it said Mr. Karatz adding that he believes the joint venture is the first of its kind

( SINV ( S-TPC-1 ( ADVP ( RB Typically ) ) ( S ( NP-SBJ ( NNS developers ) ) ( VP ( VBP option ) ( NP ( NN property ) ) ) ) ( CC and ) ( RB then ) ( S ( SBAR-TMP ( IN once ) ( S ( NP-SBJ ( PRP they ) ) ( VP ( VBP get ) ( NP ( DT the ) ( JJ administrative ) ( NNS approvals ) ) ) ) ) ( NP-SBJ ( PRP they ) ) ( VP ( VBP buy ) ( NP ( PRP it ) ) ) ) ) ( VP ( VBD said ) ) ( NP-SBJ-2 ( NNP Mr. ) ( NNP Karatz ) ) ( S-ADV ( VP ( VBG adding ) ( SBAR ( IN that ) ( S ( NP-SBJ ( PRP he ) ) ( VP ( VBZ believes ) ( SBAR ( S ( NP-SBJ ( DT the ) ( JJ joint ) ( NN venture ) ) ( VP ( VBZ is ) ( NP-PRD ( NP ( DT the ) ( JJ first ) ) ( PP ( IN of ) ( NP ( PRP$ its ) ( NN kind ) ) ) ) ) ) ) ) ) ) ) ) )


We usually operate in that conservative manner

( S ( NP-SBJ ( PRP We ) ) ( ADVP-TMP ( RB usually ) ) ( VP ( VBP operate ) ( PP-MNR ( IN in ) ( NP ( DT that ) ( JJ conservative ) ( NN manner ) ) ) ) )


By setting up the joint venture Kaufman & Broad can take the more aggressive approach of buying raw land while avoiding the negative impacts to its own balance sheet Mr. Karatz said

( S ( S-TPC-2 ( PP-MNR ( IN By ) ( S-NOM ( VP ( VBG setting ) ( PRT ( RP up ) ) ( NP ( DT the ) ( JJ joint ) ( NN venture ) ) ) ) ) ( NP-SBJ-1 ( NNP Kaufman ) ( CC & ) ( NNP Broad ) ) ( VP ( MD can ) ( VP ( VB take ) ( NP ( NP ( DT the ) ( ADJP ( RBR more ) ( JJ aggressive ) ) ( NN approach ) ) ( PP ( IN of ) ( S-NOM ( VP ( VBG buying ) ( NP ( JJ raw ) ( NN land ) ) ) ) ) ) ( SBAR-ADV ( IN while ) ( S ( VP ( VBG avoiding ) ( NP ( NP ( DT the ) ( JJ negative ) ( NNS impacts ) ) ( PP ( TO to ) ( NP ( PRP$ its ) ( JJ own ) ( NN balance ) ( NN sheet ) ) ) ) ) ) ) ) ) ) ( NP-SBJ ( NNP Mr. ) ( NNP Karatz ) ) ( VP ( VBD said ) ) )


The company is putting up only 10 % of the capital although it is responsible for providing management planning and processing services to the joint venture

( S ( NP-SBJ ( DT The ) ( NN company ) ) ( VP ( VBZ is ) ( VP ( VBG putting ) ( PRT ( RP up ) ) ( NP ( NP ( QP ( RB only ) ( CD 10 ) ) ( NN % ) ) ( PP ( IN of ) ( NP ( DT the ) ( NN capital ) ) ) ) ( SBAR-ADV ( IN although ) ( S ( NP-SBJ-1 ( PRP it ) ) ( VP ( VBZ is ) ( ADJP-PRD ( JJ responsible ) ( PP ( IN for ) ( S-NOM ( VP ( VBG providing ) ( NP ( NN management ) ( NN planning ) ( CC and ) ( NN processing ) ( NNS services ) ) ( PP-CLR ( TO to ) ( NP ( DT the ) ( JJ joint ) ( NN venture ) ) ) ) ) ) ) ) ) ) ) ) )


This is one of the best ways to assure a pipeline of land to fuel our growth at a minimum risk to our company Mr. Karatz said

( S ( S-TPC-1 ( NP-SBJ ( DT This ) ) ( VP ( VBZ is ) ( NP-PRD ( NP ( CD one ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( JJS best ) ( NNS ways ) ) ( SBAR ( S ( VP ( TO to ) ( VP ( VB assure ) ( NP ( NP ( DT a ) ( NN pipeline ) ) ( PP ( IN of ) ( NP ( NN land ) ) ) ( SBAR ( S ( VP ( TO to ) ( VP ( VB fuel ) ( NP ( PRP$ our ) ( NN growth ) ) ) ) ) ) ) ( PP ( IN at ) ( NP ( NP ( DT a ) ( JJ minimum ) ( NN risk ) ) ( PP ( TO to ) ( NP ( PRP$ our ) ( NN company ) ) ) ) ) ) ) ) ) ) ) ) ) ) ( NP-SBJ ( NNP Mr. ) ( NNP Karatz ) ) ( VP ( VBD said ) ) )


The official White House reaction to a plunge in stock prices has a 60-year history of calm right up through Friday

( S ( NP-SBJ ( NP ( DT The ) ( JJ official ) ( NNP White ) ( NNP House ) ( NN reaction ) ) ( PP ( TO to ) ( NP ( NP ( DT a ) ( NN plunge ) ) ( PP-LOC ( IN in ) ( NP ( NN stock ) ( NNS prices ) ) ) ) ) ) ( VP ( VBZ has ) ( NP ( NP ( DT a ) ( JJ 60-year ) ( NN history ) ) ( PP ( IN of ) ( NP ( JJ calm ) ) ) ) ( ADVP-TMP ( RB right ) ( IN up ) ( PP ( IN through ) ( NP ( NNP Friday ) ) ) ) ) )


Treasury Secretary Nicholas Brady said in a statement Friday that the stock-market decline does n't signal any fundamental change in the condition of the economy

( S ( NP-SBJ ( NNP Treasury ) ( NNP Secretary ) ( NNP Nicholas ) ( NNP Brady ) ) ( VP ( VBD said ) ( PP-LOC ( IN in ) ( NP ( DT a ) ( NN statement ) ) ) ( NP-TMP ( NNP Friday ) ) ( SBAR ( IN that ) ( S ( NP-SBJ ( DT the ) ( NN stock-market ) ( NN decline ) ) ( VP ( VBZ does ) ( RB n't ) ( VP ( VB signal ) ( NP ( NP ( DT any ) ( JJ fundamental ) ( NN change ) ) ( PP-LOC ( IN in ) ( NP ( NP ( DT the ) ( NN condition ) ) ( PP ( IN of ) ( NP ( DT the ) ( NN economy ) ) ) ) ) ) ) ) ) ) ) )


The economy he added remains well-balanced and the outlook is for continued moderate growth

( S-1 ( S ( NP-SBJ ( DT The ) ( NN economy ) ) ( PRN ( S ( NP-SBJ ( PRP he ) ) ( VP ( VBD added ) ) ) ) ( VP ( VBZ remains ) ( ADJP-PRD ( JJ well-balanced ) ) ) ) ( CC and ) ( S ( NP-SBJ ( DT the ) ( NN outlook ) ) ( VP ( VBZ is ) ( PP-PRD ( IN for ) ( NP ( JJ continued ) ( JJ moderate ) ( NN growth ) ) ) ) ) )


Sound familiar

( S ( VP ( VB Sound ) ( ADJP-PRD ( JJ familiar ) ) ) )


Here 's what Ronald Reagan said after the 1987 crash The underlying economy remains sound

( S ( SINV ( ADVP-LOC-PRD-TPC-2 ( RB Here ) ) ( VP ( VBZ 's ) ) ( SBAR-NOM-SBJ ( WHNP-1 ( WP what ) ) ( S ( NP-SBJ ( NNP Ronald ) ( NNP Reagan ) ) ( VP ( VBD said ) ( PP-TMP ( IN after ) ( NP ( DT the ) ( CD 1987 ) ( NN crash ) ) ) ) ) ) ) ( S ( NP-SBJ ( DT The ) ( JJ underlying ) ( NN economy ) ) ( VP ( VBZ remains ) ( ADJP-PRD ( JJ sound ) ) ) ) )


There is nothing wrong with the economy all the indices are up

( S ( S ( NP-SBJ ( EX There ) ) ( VP ( VBZ is ) ( NP-PRD ( NP ( NN nothing ) ) ( ADJP ( JJ wrong ) ( PP ( IN with ) ( NP ( DT the ) ( NN economy ) ) ) ) ) ) ) ( S ( NP-SBJ ( PDT all ) ( DT the ) ( NNS indices ) ) ( VP ( VBP are ) ( ADVP-PRD ( RB up ) ) ) ) )


Heard that before

( S ( VP ( VBN Heard ) ( NP ( DT that ) ) ( ADVP-TMP ( RB before ) ) ) )


After the 1929 crash Herbert Hoover said The fundamental business of the country is on a sound and prosperous basis

( S ( PP-TMP ( IN After ) ( NP ( DT the ) ( CD 1929 ) ( NN crash ) ) ) ( NP-SBJ ( NNP Herbert ) ( NNP Hoover ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( NP ( DT The ) ( JJ fundamental ) ( NN business ) ) ( PP ( IN of ) ( NP ( DT the ) ( NN country ) ) ) ) ( VP ( VBZ is ) ( PP-LOC-PRD ( IN on ) ( NP ( DT a ) ( ADJP ( JJ sound ) ( CC and ) ( JJ prosperous ) ) ( NN basis ) ) ) ) ) ) ) )


In response to your overly optimistic outdated piece on how long unemployment lasts People Patterns Sept. 20 I am in the communications field above entry level

( S ( PP ( IN In ) ( NP ( NP ( NN response ) ) ( PP ( TO to ) ( NP ( NP ( PRP$ your ) ( ADJP ( RB overly ) ( JJ optimistic ) ) ( JJ outdated ) ( NN piece ) ) ( PP ( IN on ) ( SBAR-NOM ( WHADVP-1 ( WRB how ) ( RB long ) ) ( S ( NP-SBJ ( NN unemployment ) ) ( VP ( VBZ lasts ) ) ) ) ) ( PRN ( NP-LOC ( NNS People ) ( NNS Patterns ) ) ( NP-TMP ( NNP Sept. ) ( CD 20 ) ) ) ) ) ) ) ( NP-SBJ ( PRP I ) ) ( VP ( VBP am ) ( PP-LOC-PRD ( PP ( IN in ) ( NP ( DT the ) ( NN communications ) ( NN field ) ) ) ( PP ( IN above ) ( NP ( NN entry ) ( NN level ) ) ) ) ) )


I was laid off in August 1988 and after a thorough and exhausting job search was hired in August 1989

( S ( NP-SBJ-1 ( PRP I ) ) ( VP ( VP ( VBD was ) ( VP ( VBN laid ) ( PRT ( RP off ) ) ( PP-TMP ( IN in ) ( NP ( NNP August ) ( CD 1988 ) ) ) ) ) ( CC and ) ( VP ( PP-TMP ( IN after ) ( NP ( DT a ) ( ADJP ( JJ thorough ) ( CC and ) ( JJ exhausting ) ) ( NN job ) ( NN search ) ) ) ( VBD was ) ( VP ( VBN hired ) ( PP-TMP ( IN in ) ( NP ( NNP August ) ( CD 1989 ) ) ) ) ) ) )


My unemployment insurance ran out before I found a job I found cutbacks and layoffs in many companies

( S ( S ( NP-SBJ ( PRP$ My ) ( NN unemployment ) ( NN insurance ) ) ( VP ( VBD ran ) ( PRT ( RP out ) ) ( SBAR-TMP ( IN before ) ( S ( NP-SBJ ( PRP I ) ) ( VP ( VBD found ) ( NP ( DT a ) ( NN job ) ) ) ) ) ) ) ( S ( NP-SBJ ( PRP I ) ) ( VP ( VBD found ) ( NP ( NNS cutbacks ) ( CC and ) ( NNS layoffs ) ) ( PP-LOC-CLR ( IN in ) ( NP ( JJ many ) ( NNS companies ) ) ) ) ) )


The statistics quoted by the new Census Bureau report garnered from 1984 to 1986 are out of date certainly as an average for the Northeast and possibly for the rest of the country

( S ( NP-SBJ ( NP ( DT The ) ( NNS statistics ) ) ( VP ( VBN quoted ) ( PP ( IN by ) ( NP-LGS ( DT the ) ( JJ new ) ( NNP Census ) ( NNP Bureau ) ( NN report ) ) ) ) ( PRN ( VP ( VBN garnered ) ( PP-TMP ( PP ( IN from ) ( NP ( CD 1984 ) ) ) ( PP ( TO to ) ( NP ( CD 1986 ) ) ) ) ) ) ) ( VP ( VBP are ) ( ADVP-PRD ( IN out ) ( PP ( IN of ) ( NP ( NN date ) ) ) ) ( PP ( PP ( ADVP ( RB certainly ) ) ( IN as ) ( NP ( NP ( DT an ) ( NN average ) ) ( PP ( IN for ) ( NP ( DT the ) ( NNP Northeast ) ) ) ) ) ( CC and ) ( PP ( ADVP ( RB possibly ) ) ( IN for ) ( NP ( NP ( DT the ) ( NN rest ) ) ( PP ( IN of ) ( NP ( DT the ) ( NN country ) ) ) ) ) ) ) )


I think what bothered me most about the piece was that there seemed to be an underlying attitude to tell your readers all is well if you 're getting laid off do n't worry and if you 're unemployed it 's a seller 's market

( S ( NP-SBJ ( PRP I ) ) ( VP ( VBP think ) ( SBAR ( S ( SBAR-NOM-SBJ ( WHNP-1 ( WP what ) ) ( S ( VP ( VBD bothered ) ( NP ( PRP me ) ) ( ADVP ( RBS most ) ) ( PP ( IN about ) ( NP ( DT the ) ( NN piece ) ) ) ) ) ) ( VP ( VBD was ) ( SBAR-PRD ( IN that ) ( S ( NP-SBJ-2 ( EX there ) ) ( VP ( VBD seemed ) ( S ( VP ( TO to ) ( VP ( VB be ) ( NP-PRD ( DT an ) ( JJ underlying ) ( NN attitude ) ( S ( VP ( TO to ) ( VP ( VB tell ) ( NP ( PRP$ your ) ( NNS readers ) ) ( SBAR ( S ( S ( NP-SBJ ( DT all ) ) ( VP ( VBZ is ) ( ADJP-PRD ( JJ well ) ) ) ) ( S ( S ( SBAR-ADV ( IN if ) ( S ( NP-SBJ-3 ( PRP you ) ) ( VP ( VBP 're ) ( VP ( VBG getting ) ( VP ( VBN laid ) ( PRT ( RP off ) ) ) ) ) ) ) ( VP ( VBP do ) ( RB n't ) ( VP ( VB worry ) ) ) ) ( CC and ) ( S ( SBAR-ADV ( IN if ) ( S ( NP-SBJ ( PRP you ) ) ( VP ( VBP 're ) ( ADJP-PRD ( JJ unemployed ) ) ) ) ) ( NP-SBJ ( PRP it ) ) ( VP ( VBZ 's ) ( NP-PRD ( NP ( DT a ) ( NN seller ) ( POS 's ) ) ( NN market ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )


To top it off you captioned the graph showing the average number of months in a job search as Time Off

( S ( S-ADV ( VP ( TO To ) ( VP ( VB top ) ( NP ( PRP it ) ) ( PRT ( RP off ) ) ) ) ) ( NP-SBJ-1 ( PRP you ) ) ( VP ( VBD captioned ) ( NP ( NP ( DT the ) ( NN graph ) ) ( VP ( VBG showing ) ( NP ( NP ( DT the ) ( JJ average ) ( NN number ) ) ( PP ( IN of ) ( NP ( NNS months ) ) ) ( PP-LOC ( IN in ) ( NP ( DT a ) ( NN job ) ( NN search ) ) ) ) ) ) ( PP-CLR ( IN as ) ( NP-TTL ( NP ( NN Time ) ) ( ADJP ( RP Off ) ) ) ) ) )


Are you kidding

( SQ ( VBP Are ) ( NP-SBJ ( PRP you ) ) ( VP ( VBG kidding ) ) )


Looking for a job was one of the most anxious periods of my life and is for most people

( S ( S-NOM-SBJ ( VP ( VBG Looking ) ( PP-CLR ( IN for ) ( NP ( DT a ) ( NN job ) ) ) ) ) ( VP ( VP ( VBD was ) ( NP-PRD ( NP ( CD one ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( ADJP ( RBS most ) ( JJ anxious ) ) ( NNS periods ) ) ( PP ( IN of ) ( NP ( PRP$ my ) ( NN life ) ) ) ) ) ) ) ( CC and ) ( VP ( VBZ is ) ( PP ( IN for ) ( NP ( JJS most ) ( NNS people ) ) ) ) ) )


Your paper needs a serious reality check

( S ( NP-SBJ ( PRP$ Your ) ( NN paper ) ) ( VP ( VBZ needs ) ( NP ( DT a ) ( JJ serious ) ( NN reality ) ( NN check ) ) ) )


Reva Levin


Cambridge Mass

( NP-LOC ( NP ( NNP Cambridge ) ) ( NP ( NNP Mass ) ) )


Quest Medical Inc. said it adopted a shareholders ' rights plan in which rights to purchase shares of common stock will be distributed as a dividend to shareholders of record as of Oct. 23

( S ( NP-SBJ ( NNP Quest ) ( NNP Medical ) ( NNP Inc. ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBD adopted ) ( NP ( NP ( NP ( DT a ) ( NNS shareholders ) ( POS ' ) ) ( NNS rights ) ( NN plan ) ) ( SBAR ( WHPP-2 ( IN in ) ( WHNP ( WDT which ) ) ) ( S ( NP-SBJ-1 ( NNS rights ) ( S ( VP ( TO to ) ( VP ( VB purchase ) ( NP ( NP ( NNS shares ) ) ( PP ( IN of ) ( NP ( JJ common ) ( NN stock ) ) ) ) ) ) ) ) ( VP ( MD will ) ( VP ( VB be ) ( VP ( VBN distributed ) ( PP ( IN as ) ( NP ( DT a ) ( NN dividend ) ) ) ( PP-DIR ( TO to ) ( NP ( NP ( NNS shareholders ) ) ( PP ( IN of ) ( NP ( NN record ) ) ) ( PP-TMP ( IN as ) ( PP ( IN of ) ( NP ( NNP Oct. ) ( CD 23 ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )


The company said the plan was n't adopted in response to any known offers for Quest a maker and marketer of hospital products

( S ( NP-SBJ ( DT The ) ( NN company ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ-1 ( DT the ) ( NN plan ) ) ( VP ( VBD was ) ( RB n't ) ( VP ( VBN adopted ) ( PP ( IN in ) ( NP ( NP ( NN response ) ) ( PP ( TO to ) ( NP ( NP ( DT any ) ( VBN known ) ( NNS offers ) ) ( PP ( IN for ) ( NP ( NP ( NNP Quest ) ) ( NP ( NP ( DT a ) ( NN maker ) ( CC and ) ( NN marketer ) ) ( PP ( IN of ) ( NP ( NN hospital ) ( NNS products ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )


The rights allow shareholders to purchase Quest stock at a discount if any person or group acquires more than 15 % of the company 's common stock or announces a tender offer

( S ( NP-SBJ ( DT The ) ( NNS rights ) ) ( VP ( VBP allow ) ( S ( NP-SBJ ( NNS shareholders ) ) ( VP ( TO to ) ( VP ( VB purchase ) ( NP ( NNP Quest ) ( NN stock ) ) ( PP ( IN at ) ( NP ( DT a ) ( NN discount ) ) ) ( SBAR-ADV ( IN if ) ( S ( NP-SBJ ( DT any ) ( NN person ) ( CC or ) ( NN group ) ) ( VP ( VP ( VBZ acquires ) ( NP ( NP ( NP ( QP ( JJR more ) ( IN than ) ( CD 15 ) ) ( NN % ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( NN company ) ( POS 's ) ) ( JJ common ) ( NN stock ) ) ) ) ) ) ( CC or ) ( VP ( VBZ announces ) ( NP ( DT a ) ( NN tender ) ( NN offer ) ) ) ) ) ) ) ) ) ) )


Newspaper publishers are reporting mixed third-quarter results aided by favorable newsprint prices and hampered by flat or declining advertising linage especially in the Northeast

( S ( NP-SBJ ( NN Newspaper ) ( NNS publishers ) ) ( VP ( VBP are ) ( VP ( VBG reporting ) ( NP ( NP ( JJ mixed ) ( JJ third-quarter ) ( NNS results ) ) ( VP ( VP ( VBN aided ) ( PP ( IN by ) ( NP-LGS ( JJ favorable ) ( NN newsprint ) ( NNS prices ) ) ) ) ( CC and ) ( VP ( VBN hampered ) ( PP ( IN by ) ( NP-LGS ( NP ( ADJP ( JJ flat ) ( CC or ) ( JJ declining ) ) ( NN advertising ) ( NN linage ) ) ( PP-LOC ( ADVP ( RB especially ) ) ( IN in ) ( NP ( DT the ) ( NNP Northeast ) ) ) ) ) ) ) ) ) ) )


Adding to unsteadiness in the industry seasonal retail ad spending patterns in newspapers have been upset by shifts in ownership and general hardships within the retail industry

( S ( S-ADV ( VP ( VBG Adding ) ( PP-CLR ( TO to ) ( NP ( NP ( NN unsteadiness ) ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( NN industry ) ) ) ) ) ) ) ( NP-SBJ-1 ( NP ( JJ seasonal ) ( JJ retail ) ( NN ad ) ( NN spending ) ( NNS patterns ) ) ( PP-LOC ( IN in ) ( NP ( NNS newspapers ) ) ) ) ( VP ( VBP have ) ( VP ( VBN been ) ( VP ( VBN upset ) ( PP ( IN by ) ( NP-LGS ( NP ( NP ( NNS shifts ) ) ( PP-LOC ( IN in ) ( NP ( NN ownership ) ) ) ) ( CC and ) ( NP ( NP ( JJ general ) ( NNS hardships ) ) ( PP-LOC ( IN within ) ( NP ( DT the ) ( JJ retail ) ( NN industry ) ) ) ) ) ) ) ) ) )


In New York the Bonwit Teller and B. Altman & Co. department stores have filed for protection from creditors under Chapter 11 of the federal Bankruptcy Code while the R.H. Macy & Co. Bloomingdale 's and Saks Fifth Avenue department-store chains are for sale

( S ( PP-LOC ( IN In ) ( NP ( NNP New ) ( NNP York ) ) ) ( NP-SBJ ( DT the ) ( NNP Bonwit ) ( NNP Teller ) ( CC and ) ( NNP B. ) ( NNP Altman ) ( CC & ) ( NNP Co. ) ( NN department ) ( NNS stores ) ) ( VP ( VBP have ) ( VP ( VBN filed ) ( PP-CLR ( IN for ) ( NP ( NP ( NN protection ) ) ( PP ( IN from ) ( NP ( NNS creditors ) ) ) ) ) ( PP-LOC ( IN under ) ( NP ( NP ( NNP Chapter ) ( CD 11 ) ) ( PP ( IN of ) ( NP ( DT the ) ( JJ federal ) ( NNP Bankruptcy ) ( NNP Code ) ) ) ) ) ( SBAR-ADV ( IN while ) ( S ( NP-SBJ ( DT the ) ( NNP R.H. ) ( NNP Macy ) ( CC & ) ( NNP Co. ) ( NNP Bloomingdale ) ( POS 's ) ( CC and ) ( NNP Saks ) ( NNP Fifth ) ( NNP Avenue ) ( NN department-store ) ( NNS chains ) ) ( VP ( VBP are ) ( PP-PRD ( IN for ) ( NP ( NN sale ) ) ) ) ) ) ) ) )


Many papers throughout the country are also faced with a slowdown in classified-ad spending a booming category for newspapers in recent years

( S ( NP-SBJ-1 ( NP ( JJ Many ) ( NNS papers ) ) ( PP-LOC ( IN throughout ) ( NP ( DT the ) ( NN country ) ) ) ) ( VP ( VBP are ) ( ADVP ( RB also ) ) ( VP ( VBN faced ) ( PP-CLR ( IN with ) ( NP ( NP ( DT a ) ( NN slowdown ) ) ( PP-LOC ( IN in ) ( NP ( NP ( NN classified-ad ) ( NN spending ) ) ( NP ( NP ( DT a ) ( JJ booming ) ( NN category ) ) ( PP ( IN for ) ( NP ( NNS newspapers ) ) ) ( PP-TMP ( IN in ) ( NP ( JJ recent ) ( NNS years ) ) ) ) ) ) ) ) ) ) )


Until recently industry analysts believed decreases in retail ad spending had bottomed out and would in fact increase in this year 's third and fourth quarters

( S ( PP-TMP ( IN Until ) ( ADJP ( RB recently ) ) ) ( NP-SBJ ( NN industry ) ( NNS analysts ) ) ( VP ( VBD believed ) ( SBAR ( S ( NP-SBJ ( NP ( NNS decreases ) ) ( PP-LOC ( IN in ) ( NP ( JJ retail ) ( NN ad ) ( NN spending ) ) ) ) ( VP ( VP ( VBD had ) ( VP ( VBN bottomed ) ( PRT ( RP out ) ) ) ) ( CC and ) ( VP ( MD would ) ( PP ( IN in ) ( NP ( NN fact ) ) ) ( VP ( VB increase ) ( PP-TMP ( IN in ) ( NP ( NP ( DT this ) ( NN year ) ( POS 's ) ) ( ADJP ( JJ third ) ( CC and ) ( JJ fourth ) ) ( NNS quarters ) ) ) ) ) ) ) ) ) )


All bets are off analysts say because of the shifting ownership of the retail chains

( S-1 ( NP-SBJ ( DT All ) ( NNS bets ) ) ( VP ( VBP are ) ( ADVP-PRD ( RB off ) ) ( PRN ( S ( NP-SBJ ( NNS analysts ) ) ( VP ( VBP say ) ) ) ) ( PP-PRP ( IN because ) ( IN of ) ( NP ( NP ( DT the ) ( JJ shifting ) ( NN ownership ) ) ( PP ( IN of ) ( NP ( DT the ) ( JJ retail ) ( NNS chains ) ) ) ) ) ) )


Improved paper prices will help offset weakness in linage but the retailers ' problems have affected the amount of ad linage they usually run said Edward J. Atorino industry analyst for Salomon Brothers Inc

( SINV ( S-TPC-2 ( S ( NP-SBJ ( JJ Improved ) ( NN paper ) ( NNS prices ) ) ( VP ( MD will ) ( VP ( VB help ) ( S ( VP ( VB offset ) ( NP ( NP ( NN weakness ) ) ( PP-LOC ( IN in ) ( NP ( NN linage ) ) ) ) ) ) ) ) ) ( CC but ) ( S ( NP-SBJ ( NP ( DT the ) ( NNS retailers ) ( POS ' ) ) ( NNS problems ) ) ( VP ( VBP have ) ( VP ( VBN affected ) ( NP ( NP ( DT the ) ( NN amount ) ) ( PP ( IN of ) ( NP ( NN ad ) ( NN linage ) ) ) ( SBAR ( S ( NP-SBJ ( PRP they ) ) ( ADVP-TMP ( RB usually ) ) ( VP ( VBP run ) ) ) ) ) ) ) ) ) ( VP ( VBD said ) ) ( NP-SBJ ( NP ( NNP Edward ) ( NNP J. ) ( NNP Atorino ) ) ( NP ( NP ( NN industry ) ( NN analyst ) ) ( PP ( IN for ) ( NP ( NNP Salomon ) ( NNP Brothers ) ( NNP Inc ) ) ) ) ) )


Retailers are just in disarray

( S ( NP-SBJ ( NNS Retailers ) ) ( VP ( VBP are ) ( ADVP ( RB just ) ) ( PP-LOC-PRD ( IN in ) ( NP ( NN disarray ) ) ) ) )


For instance Gannett Co. posted an 11 % gain in net income as total ad pages dropped at USA Today but advertising revenue rose because of a higher circulation rate base and increased rates

( S ( PP ( IN For ) ( NP ( NN instance ) ) ) ( NP-SBJ ( NNP Gannett ) ( NNP Co. ) ) ( VP ( VBD posted ) ( NP ( NP ( DT an ) ( ADJP ( CD 11 ) ( NN % ) ) ( NN gain ) ) ( PP-LOC ( IN in ) ( NP ( JJ net ) ( NN income ) ) ) ) ( SBAR-ADV ( IN as ) ( S ( S ( NP-SBJ ( JJ total ) ( NN ad ) ( NNS pages ) ) ( VP ( VBD dropped ) ( PP-LOC ( IN at ) ( NP ( NNP USA ) ( NNP Today ) ) ) ) ) ( CC but ) ( S ( NP-SBJ ( NN advertising ) ( NN revenue ) ) ( VP ( VBD rose ) ( PP-PRP ( IN because ) ( IN of ) ( NP ( NP ( DT a ) ( JJR higher ) ( NN circulation ) ( NN rate ) ( NN base ) ) ( CC and ) ( NP ( JJ increased ) ( NNS rates ) ) ) ) ) ) ) ) ) )


Gannett 's 83 daily and 35 non-daily newspapers reported a 3 % increase in advertising and circulation revenue

( S ( NP-SBJ ( NP ( NNP Gannett ) ( POS 's ) ) ( NX ( NX ( CD 83 ) ( JJ daily ) ) ( CC and ) ( NX ( CD 35 ) ( JJ non-daily ) ) ( NX-1 ( NNS newspapers ) ) ) ) ( VP ( VBD reported ) ( NP ( NP ( DT a ) ( ADJP ( CD 3 ) ( NN % ) ) ( NN increase ) ) ( PP-LOC ( IN in ) ( NP ( NN advertising ) ( CC and ) ( NN circulation ) ( NN revenue ) ) ) ) ) )