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The allied <ei1204>rejection</ei1204> of the last-minute Soviet-led diplomatic <ei1205>effort</ei1205> to <ei1206>avoid</ei1206> the ground <ei1207>war</ei1207> <ei1208>enabled</ei1208> Mr. Bush to <ei1209>seize</ei1209> the initiative from an Iraq seemingly bent on <ei1210>dictating</ei1210> peace terms. But it has <ei1211>offended</ei1211> some, especially in Arab countries, who now <ei1212>believe</ei1212> that Mr. Bush's real objectives are the <ei1214>demise</ei1214> of Saddam Hussein and the <ei1215>destruction</ei1215> of the Iraqi military, not just the <ei1216>liberation</ei1216> of Kuwait. "Why have a <ei1217>war</ei1217>?" <ei1218>asked</ei1218> Abdul Latif Shekar, a customs officer in Egypt, a country <ei1219>participating</ei1219> in the <ei1220>attack</ei1220> on Iraqi troops. "I <ei1221>think</ei1221> the Gorbachev plan was a good one. |
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"I <ei1221>think</ei1221> the Gorbachev plan was a good one. Iraq was ready to <ei1222>withdraw</ei1222>." Now, he <ei1223>says</ei1223>, "it <ei1224>looks</ei1224> like the West just <ei1225>wants</ei1225> to <ei1226>destroy</ei1226> Iraq." Despite the early indications of success, the allied forces could still <ei1228>suffer</ei1228> greater casualties and <ei1230>become</ei1230> <ei1231>bogged</ei1231> down militarily, especially when they <ei1232>encounter</ei1232> the tough Republican Guard, which is <ei1233>entrenched</ei1233> along the Iraq-Kuwait border. If so, and if it <ei1234>appears</ei1234> that the American goal actually is to <ei1236>destroy</ei1236> the Iraqi regime even at the cost of badly hurting Iraqi society, "the lingering cost of that could be high," <ei1239>worries</ei1239> former national security adviser Zbigniew Brzezinski. |
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If so, and if it <ei1234>appears</ei1234> that the American goal actually is to <ei1236>destroy</ei1236> the Iraqi regime even at the cost of badly hurting Iraqi society, "the lingering cost of that could be high," <ei1239>worries</ei1239> former national security adviser Zbigniew Brzezinski. But, he <ei1240>notes</ei1240>, "If everything <ei1241>crumbles</ei1241> totally, that won't be such a problem." American officials staunchly <ei1242>disavow</ei1242> any interest in <ei1243>driving</ei1243> through Iraq toward Baghdad, either in <ei1244>pursuit</ei1244> of Saddam Hussein himself or to <ei1245>set</ei1245> up some American-controlled government inside Iraq. The Americans <ei1246>say</ei1246> their battle plans <ei1247>call</ei1247> for <ei1248>operating</ei1248> against forces inside Iraq as far north as the city of Basra, about 30 miles north of Kuwait, but say there isn't any plan to <ei1251>drive</ei1251> beyond that. Indeed, French President Francois Mitterrand <ei1252>said</ei1252> <t463>yesterday</t463> that some allied forces are <ei1253>crossing</ei1253> Iraqi territory as part of a "pincer" movement to <ei1255>trap</ei1255> the soldiers occupying Kuwait, but <ei1257>insisted</ei1257>, "The purpose isn't to <ei1259>invade</ei1259> Iraqi territory, that's not the aim, that isn't the mandate." |
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Indeed, French President Francois Mitterrand <ei1252>said</ei1252> <t463>yesterday</t463> that some allied forces are <ei1253>crossing</ei1253> Iraqi territory as part of a "pincer" movement to <ei1255>trap</ei1255> the soldiers occupying Kuwait, but <ei1257>insisted</ei1257>, "The purpose isn't to <ei1259>invade</ei1259> Iraqi territory, that's not the aim, that isn't the mandate." Nevertheless, American officials over <t472>the weekend</t472> <ei1262>became</ei1262> more <ei1263>open</ei1263> in <ei1264>declaring</ei1264> that by <ei1265>destroying</ei1265> Saddam Hussein's military machine they <ei1266>hope</ei1266> to <ei1267>destroy</ei1267> his regime -- a goal likely to be <ei1270>supported</ei1270> by most Americans. In a pre-attack message, Lt. Gen. Walter Boomer, the top Marine in the Persian Gulf, <ei1272>told</ei1272> U.S. Marines that their goal is to " <ei1274>restore</ei1274> {Kuwait} to its citizens." He <ei1275>went</ei1275> on to <ei1276>add</ei1276> that "in so <ei1277>doing</ei1277> you not only <ei1278>return</ei1278> a nation to its people, but you will <ei1279>destroy</ei1279> the war machine of a ruthless dictator." Secretary of State James Baker <ei1280>said</ei1280> on ABC-TV's "This Week With David Brinkley" that the series of United Nations resolutions <ei1282>condemning</ei1282> Iraq's <ei1283>invasion</ei1283> of Kuwait "<ei1284>imply</ei1284> that the <ei1285>restoration</ei1285> of peace and stability in the Gulf would be a heck of a lot easier if he and that leadership were not in power in Iraq." |
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Secretary of State James Baker <ei1280>said</ei1280> on ABC-TV's "This Week With David Brinkley" that the series of United Nations resolutions <ei1282>condemning</ei1282> Iraq's <ei1283>invasion</ei1283> of Kuwait "<ei1284>imply</ei1284> that the <ei1285>restoration</ei1285> of peace and stability in the Gulf would be a heck of a lot easier if he and that leadership were not in power in Iraq." Of course, it is still far too early to <ei1290>assume</ei1290> that the military <ei1291>situation</ei1291> on the ground will <ei1292>stay</ei1292> as smooth for allied forces as it <ei1293>appears</ei1293> to have been so far. Iraq still <ei1295>has</ei1295> the potential to <ei1296>cause</ei1296> significant problems by <ei1298>using</ei1298> forces and weapons that don't yet <ei1299>seem</ei1299> fully <ei1300>engaged</ei1300>. For one thing, Iraq still apparently hasn't <ei1301>unleashed</ei1301> its stockpile of chemical weapons. Gen. Schwarzkopf <ei1302>said</ei1302> that some early reports that chemical weapons were <ei1304>used</ei1304> against allied troops <ei1305>turned</ei1305> out to be "bogus." |
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Gen. Schwarzkopf <ei1302>said</ei1302> that some early reports that chemical weapons were <ei1304>used</ei1304> against allied troops <ei1305>turned</ei1305> out to be "bogus." Iraq is <ei1306>believed</ei1306> to <ei1307>have</ei1307> the ability to <ei1308>deliver</ei1308> chemical weapons in artillery shells or, perhaps, atop Soviet-made Frog7 missiles. Perhaps more important, it <ei1309>appears</ei1309> that allied troops haven't yet fully <ei1310>engaged</ei1310> Iraq's vaunted Republican Guard, which has been <ei1311>sitting</ei1311> just north of the Iraq-Kuwait border and is <ei1312>considered</ei1312> the most potent element in the Iraqi defense. It <ei1314>remains</ei1314> to be <ei1315>seen</ei1315> how much <ei1316>damage</ei1316> the allied air <ei1317>campaign</ei1317> was able to <ei1319>inflict</ei1319> on the Guard, and whether President Hussein will <ei1320>commit</ei1320> his most valued troops to a fight-to-the-death finish. Certainly Saddam Hussein <ei1322>continues</ei1322> to <ei1323>implore</ei1323> his country to <ei1324>fight</ei1324> on. |
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Certainly Saddam Hussein <ei1322>continues</ei1322> to <ei1323>implore</ei1323> his country to <ei1324>fight</ei1324> on. "<ei1325>Fight</ei1325> them," he <ei1326>urged</ei1326> Iraqis in a radio <ei1327>address</ei1327>. "All Iraqis, <ei1328>fight</ei1328> them with all the power you <ei1329>have</ei1329>, and all <ei1330>struggle</ei1330> for everything." American war planners have long <ei1331>assumed</ei1331> that the early stage of the ground <ei1332>attack</ei1332>, in which American forces would <ei1333>use</ei1333> their speed to <ei1334>sweep</ei1334> around Iraqi defenses and their strength to <ei1335>punch</ei1335> through the relatively weak Iraqi front line, would be the easiest part. Despite these early successes, the mere fact that a ground <ei1336>campaign</ei1336> has <ei1337>begun</ei1337> almost <ei1338>guarantees</ei1338> that the Bush administration will <ei1339>face</ei1339> fresh problems <ei1341>growing</ei1341> out of the military <ei1342>situation</ei1342>. |
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Despite these early successes, the mere fact that a ground <ei1336>campaign</ei1336> has <ei1337>begun</ei1337> almost <ei1338>guarantees</ei1338> that the Bush administration will <ei1339>face</ei1339> fresh problems <ei1341>growing</ei1341> out of the military <ei1342>situation</ei1342>. There are likely to be additional American prisoners of war taken, and there are signs that President Hussein is <ei1344>taking</ei1344> Kuwaiti hostages. U.S. and Kuwaiti officials <ei1345>say</ei1345> there are reports that large numbers of civilians from Kuwait City are being <ei1347>rounded</ei1347> up and <ei1348>held</ei1348> by Iraqi troops, apparently either for <ei1349>use</ei1349> as human shields or for <ei1350>use</ei1350> later in <ei1351>bargaining</ei1351> once the <ei1352>war</ei1352> is over. President Bush's political argument for <ei1354>going</ei1354> to a ground <ei1355>war</ei1355> has been <ei1356>strengthened</ei1356> by the growing stream of reports of wanton Iraqi <ei1358>destruction</ei1358> inside Kuwait. U.S. officials <ei1359>say</ei1359> that hundreds of Kuwaiti oil wells now may have been <ei1360>set</ei1360> afire. |
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U.S. officials <ei1359>say</ei1359> that hundreds of Kuwaiti oil wells now may have been <ei1360>set</ei1360> afire. And Robert Gates, Mr. Bush's deputy national security adviser, <ei1362>asserted</ei1362> in an <ei1363>interview</ei1363> on the Cable News Network that Iraqi troops have <ei1364>set</ei1364> fire to "large sections" of Kuwait City. Mr. Bush and his aides were <ei1366>leaning</ei1366> toward a military <ei1367>conclusion</ei1367> of the <ei1368>crisis</ei1368> even before the latest reports of Iraqi <ei1370>atrocities</ei1370> in Kuwait <ei1371>came</ei1371> to light. The president and his top aides tentatively <ei1372>decided</ei1372> on <t494>Feb. 11</t494> that a ground <ei1373>war</ei1373> would be <ei1529>necessary</ei1529>. The <ei1375>decision</ei1375> was <ei1376>made</ei1376> after Defense Secretary Dick Cheney and Gen. Colin Powell, chairman of the Joint Chiefs of Staff, <ei1377>returned</ei1377> from a <ei1378>visit</ei1378> with military commanders in Saudi Arabia, administration officials <ei1379>say</ei1379>. |
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The <ei1375>decision</ei1375> was <ei1376>made</ei1376> after Defense Secretary Dick Cheney and Gen. Colin Powell, chairman of the Joint Chiefs of Staff, <ei1377>returned</ei1377> from a <ei1378>visit</ei1378> with military commanders in Saudi Arabia, administration officials <ei1379>say</ei1379>. Then, <t496>a week or so ago</t496>, Gen. Schwarzkopf secretly <ei1380>picked</ei1380> <t498>Saturday night</t498> as the optimal time to <ei1381>start</ei1381> the <ei1382>offensive</ei1382>. The date was <ei1383>unaffected</ei1383> by the last-ditch Soviet peace <ei1384>initiative</ei1384>. The real problem with the Soviet proposals, U.S. officials now <ei1387>say</ei1387>, was that they all would have <ei1388>required</ei1388> <ei1389>lifting</ei1389> economic <ei1390>sanctions</ei1390> against Iraq. The Bush administration <ei1391>considers</ei1391> the <ei1392>sanctions</ei1392> essential to <ei1393>keeping</ei1393> Saddam Hussein under control should he <ei1395>survive</ei1395> the <ei1396>war</ei1396>. |
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The Bush administration <ei1391>considers</ei1391> the <ei1392>sanctions</ei1392> essential to <ei1393>keeping</ei1393> Saddam Hussein under control should he <ei1395>survive</ei1395> the <ei1396>war</ei1396>. Mr. Bush <ei1397>forestalled</ei1397> further diplomatic <ei1398>maneuvering</ei1398> by <ei1399>issuing</ei1399> an ultimatum on behalf of the allies <ei1401>demanding</ei1401> that Iraq <ei1402>withdraw</ei1402> within <t505>a week</t505>, <ei1403>starting</ei1403> at <t507>noon Saturday</t507>. Administration aides <ei1404>said</ei1404> that the idea of the ultimatum was Gen. Powell's. He <ei1406>argued</ei1406> <ei1407>setting</ei1407> an explicit deadline for Saddam Hussein to <ei1408>break</ei1408> would, when it was <ei1409>broken</ei1409>, <ei1410>give</ei1410> the U.S. military a clear green light to <ei1411>proceed</ei1411>. In <ei1412>setting</ei1412> out his final challenge to Saddam Hussein, Mr. Bush <ei1414>continued</ei1414> the intensive personal <ei1415>diplomacy</ei1415> he <ei1416>began</ei1416> after the <ei1417>invasion</ei1417> <t508>last August</t508>. |
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In <ei1412>setting</ei1412> out his final challenge to Saddam Hussein, Mr. Bush <ei1414>continued</ei1414> the intensive personal <ei1415>diplomacy</ei1415> he <ei1416>began</ei1416> after the <ei1417>invasion</ei1417> <t508>last August</t508>. After <ei1418>cabling</ei1418> world leaders about his intention to <ei1420>give</ei1420> Saddam Hussein a final deadline to <ei1421>exit</ei1421> Kuwait, he <ei1422>offered</ei1422> him <t518>a week</t518> to <ei1423>withdraw</ei1423> fully, instead of <t519>the four days</t519> he originally <ei1424>considered</ei1424>, because of <ei1425>objections</ei1425> from some European partners that four days <ei1426>seemed</ei1426> punitive and unrealistic. And when he and President Gorbachev <ei1427>spoke</ei1427> about the <ei1428>decision</ei1428> in a <ei1429>talk</ei1429> lasting <t520>nearly an hour</t520>, the President <ei1430>took</ei1430> pains to <ei1432>listen</ei1432> to what his counterpart had to <ei1434>say</ei1434>, although he already had <ei1435>decided</ei1435> that the Soviet alternative to the allied deadline was <ei1530>unacceptable</ei1530>. Finally, when Iraq <ei1437>failed</ei1437> to <ei1438>respond</ei1438> to the U.S. ultimatum, Mr. Bush <ei1440>let</ei1440> the ground <ei1441>offensive</ei1441> <ei1442>begin</ei1442> as previously <ei1443>planned</ei1443> <t514>Saturday night</t514>. The <ei1444>attack</ei1444> was lightning quick, as allied forces <ei1445>punched</ei1445> through tall sand berms on the border and <ei1446>pushed</ei1446> forward into Iraq and Kuwait. |
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The <ei1444>attack</ei1444> was lightning quick, as allied forces <ei1445>punched</ei1445> through tall sand berms on the border and <ei1446>pushed</ei1446> forward into Iraq and Kuwait. U.S. Marines were <ei1447>said</ei1447> to have <ei1448>breached</ei1448> troublesome mine fields along the Iraqi lines but Pentagon officials <ei1449>said</ei1449> no amphibious <ei1450>assault</ei1450> on Kuwait's beaches had <ei1451>begun</ei1451>. Long columns of Iraqi prisoners of war could be <ei1452>seen</ei1452> <ei1453>trudging</ei1453> through the desert toward the allied rear. U.S. commanders <ei1454>said</ei1454> 5,500 Iraqi prisoners were <ei1455>taken</ei1455> in <t21>the first hours</t21> of the ground <ei1456>war</ei1456>, though some military officials later <ei1457>said</ei1457> the total may have <ei1458>climbed</ei1458> above 8,000. The U.S. <ei1459>hopes</ei1459> its troops will <ei1460>drive</ei1460> Iraqi forces out of Kuwait quickly, <ei1461>leaving</ei1461> much of Iraq's offensive military equipment <ei1462>destroyed</ei1462> or <ei1463>abandoned</ei1463> in Kuwait. |
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The U.S. <ei1459>hopes</ei1459> its troops will <ei1460>drive</ei1460> Iraqi forces out of Kuwait quickly, <ei1461>leaving</ei1461> much of Iraq's offensive military equipment <ei1462>destroyed</ei1462> or <ei1463>abandoned</ei1463> in Kuwait. It <ei1464>expects</ei1464> that tens of thousands of Iraqi soldiers will <ei1465>surrender</ei1465> to the U.S. and its allies over <t517>the next few days</t517>. If the allies <ei1466>succeed</ei1466>, Saddam Hussein will have <ei1467>plunged</ei1467> his country first into a fruitless <t521>eight-year</t521> <ei1468>war</ei1468> against Iran and then into a humiliating <ei1469>war</ei1469> against the U.S. and the allies to <ei1470>defend</ei1470> his <ei1471>conquest</ei1471> of Kuwait, <ei1472>leaving</ei1472> much of his country's military establishment and modern infrastructure in ruins. Meanwhile, the U.S. <ei1474>hopes</ei1474>, economic <ei1475>sanctions</ei1475> and an international arms <ei1476>embargo</ei1476> will <ei1477>remain</ei1477> in effect until Iraq <ei1478>pays</ei1478> war reparations to Kuwait to <ei1480>cover</ei1480> war damages. That would <ei1482>undermine</ei1482> any chances of <ei1483>rebuilding</ei1483> either Iraq or its armed forces in short order as long as Saddam Hussein <ei1484>remains</ei1484> in power. |
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That would <ei1482>undermine</ei1482> any chances of <ei1483>rebuilding</ei1483> either Iraq or its armed forces in short order as long as Saddam Hussein <ei1484>remains</ei1484> in power. The American hope is that someone from within Iraq, perhaps from the army's professional ranks, will step forward and push Saddam Hussein aside so that the country can begin recovering from the disaster. Outside analysts think Saddam Hussein's position is indeed precarious. "I think frankly Saddam is <ei1486>finished</ei1486>, no matter what <ei1487>happens</ei1487>," <ei1488>says</ei1488> Christine Helms, a Middle East scholar who has <ei1489>written</ei1489> extensively about Iraq. "These guys simply don't <ei1490>retire</ei1490> to condos over the Euphrates." |
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"These guys simply don't <ei1490>retire</ei1490> to condos over the Euphrates." Despite the lack of any obvious successors, the Iraqi leader's internal power base <ei1491>appeared</ei1491> to be <ei1492>narrowing</ei1492> even before the <ei1493>war</ei1493> <ei1494>began</ei1494>. Some analysts <ei1495>say</ei1495> he <ei1496>appeared</ei1496> to be <ei1497>relying</ei1497> on a smaller and smaller circle of close advisers and relatives. If that's true, the narrowing of his support would <ei1499>make</ei1499> it easier for someone to <ei1500>push</ei1500> him aside from within. Yet, paradoxically, the perception that the U.S. <ei1501>wants</ei1501> to <ei1502>destroy</ei1502> Iraq may <ei1503>increase</ei1503> Saddam Hussein's support within the Iraqi military. |
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Yet, paradoxically, the perception that the U.S. <ei1501>wants</ei1501> to <ei1502>destroy</ei1502> Iraq may <ei1503>increase</ei1503> Saddam Hussein's support within the Iraqi military. And the U.S. now will <ei1505>face</ei1505> sharper questions in the Arab world since it didn't <ei1506>back</ei1506> the peace proposals worked out in Moscow. "We <ei1508>looked</ei1508> to the United States, we <ei1509>expected</ei1509> you to <ei1510>have</ei1510> the moral edge," <ei1511>says</ei1511> Nasser Tahboub, a Jerusalem-born Jordanian who <ei1512>has</ei1512> an American wife and a doctorate in political science from Duke University. "Now we <ei1513>see</ei1513> that edge <ei1514>eroded</ei1514>. For me, it is a great <ei1515>tragedy</ei1515>. |
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Nigerian security forces <ei2222>clashed</ei2222> in Lagos with anti-government demonstrators who were <ei2223>protesting</ei2223> calls for military leader Sani Abacha to <ei2224>run</ei2224> for president. Meanwhile, as VOA West Africa Correspondent Purnell Murdock <ei2225>reports</ei2225>, General Abacha's supporters <ei2226>began</ei2226> a <t25>two day</t25> <ei2227>rally</ei2227> in the capital, Abuja, to <ei2228>urge</ei2228> him to <ei2229>compete</ei2229> in <t26>this year</t26>'s election.
Nigeria state radio <ei2230>says</ei2230> thousands of people <ei2231>began</ei2231> <ei2232>gathering</ei2232> in the capital Abuja <t2221>early Tuesday</t2221> for the <t28>two day</t28> <ei2233>rally</ei2233> <ei2235>supporting</ei2235> General Sani Abacha's <ei2236>candidacy</ei2236>. Organizers <ei2238>state</ei2238> the <t29>two days</t29> of music, dancing, and speeches is <ei2240>expected</ei2240> to <ei2241>draw</ei2241> some two million people. But as supporters of the military leader <ei2242>gathered</ei2242> in the north, riot police <ei2243>deployed</ei2243> in Nigeria's southern commercial capital Lagos, to <ei2244>break</ei2244> up a protest <ei2245>rally</ei2245> <ei2246>called</ei2246> by the political opposition. |
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But as supporters of the military leader <ei2242>gathered</ei2242> in the north, riot police <ei2243>deployed</ei2243> in Nigeria's southern commercial capital Lagos, to <ei2244>break</ei2244> up a protest <ei2245>rally</ei2245> <ei2246>called</ei2246> by the political opposition. Although General Abacha had not publicly <ei2247>announced</ei2247> his <ei2248>candidacy</ei2248>, many people <ei2249>believe</ei2249> an Abacha <ei2250>presidency</ei2250> is a foregone conclusion. Some analysts <ei2251>say</ei2251> the <ei2252>outcome</ei2252> of a <ei2253>face</ei2253> off between the police and anti Abacha political groups will be a <ei2254>test</ei2254> of the opposition's resolve. Purnell Murdock, VOA News. |
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In Washington <t53>today</t53>, the Federal Aviation Administration <ei252>released</ei252> air traffic control tapes from the night the TWA Flight eight hundred <ei253>went</ei253> down. There's nothing new on why the plane <ei254>exploded</ei254>, but you cannot miss the moment. ABC's Lisa Stark has more.
There was no hint of trouble in the last <ei256>conversation</ei256> between controllers and TWA pilot Steven Snyder TWA eight hundred climb <ei257>maintain</ei257> one five thousand.
TWA's eight hundred heavy climb and <ei258>maintain</ei258> one five thousand leavin- three thousand. |
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TWA's eight hundred heavy climb and <ei258>maintain</ei258> one five thousand leavin- three thousand.
But <t58>a minute and a half</t58> later, a pilot from a nearby flight <ei259>calls</ei259> in.
Ah, we just <ei260>saw</ei260> an <ei261>explosion</ei261> up ahead of us here about sixteen thousand feet or something like that. It just <ei262>went</ei262> down.
The controller at Boston center <ei263>tries</ei263> to <ei264>raise</ei264> TWA eight hundred. |
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The controller at Boston center <ei263>tries</ei263> to <ei264>raise</ei264> TWA eight hundred.
TWA eight hundred, if you <ei265>hear</ei265> center, <ei266>ident</ei266>.
There is no <ei267>response</ei267>. Later, the controller <ei268>asks</ei268> the Eastwind pilot for more details.
Ah yes, sir. |
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Ah yes, sir. It- It just <ei269>blew</ei269> up in the air, and then we <ei270>saw</ei270> two fireballs <ei271>go</ei271> down to the, to the water, and there was a big small, ah, smoke, from ah, <ei272>coming</ei272> up from that.
At one point, when it <ei273>became</ei273> clear controllers could not <ei275>contact</ei275> the plane, someone <ei276>said</ei276> a prayer.
TWA eight hundred center, I think that was him.
I think so. |
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THE HAGUE, Netherlands (AP)_ The World Court <t21>Friday</t21> <ei2091>rejected</ei2091> U.S. and British <ei2092>objections</ei2092> to a Libyan World Court case that has <ei2093>blocked</ei2093> the <ei2094>trial</ei2094> of two Libyans <ei2095>suspected</ei2095> of <ei2096>blowing</ei2096> up a Pan Am jumbo jet over Scotland in <t22>1988</t22>. Libya, which <ei2097>brought</ei2097> the case to the United Nations' highest judicial body in its <ei2098>dispute</ei2098> with the United States and Britain, <ei2099>hailed</ei2099> the <ei2100>ruling</ei2100> and <ei2101>said</ei2101> it would <ei2102>press</ei2102> anew for a <ei2103>trial</ei2103> in a third neutral country. Both U.S. and British officials <ei2104>filed</ei2104> objections to the court's jurisdiction in <t23>1995</t23>, <ei2105>claiming</ei2105> Security Council resolutions <ei2107>imposed</ei2107> on Lybia to <ei2108>force</ei2108> the suspects' extradition <ei2109>overruled</ei2109> a <t24>1971</t24> Convention which gives Libya the right to try the men. The decision, 3rd graf pvs. |
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Coast Savings Financial Inc. <ei199>reported</ei199> a <t31>third-quarter</t31> <ei200>loss</ei200>, <ei201>citing</ei201> a previously announced capital restructuring program.
The Los Angeles thrift holding company <ei202>said</ei202> it <ei203>had</ei203> a loss of $92.2 million, or $6.98 a share, for <t48>the quarter</t48> ended <t32>Sept. 30</t32>. Coast <ei204>earned</ei204> $10.2 million, or 67 cents a share, in <t49>the year-ago quarter</t49>. The <t51>year-ago</t51> <ei205>results</ei205> have been <ei206>restated</ei206> to <ei207>comply</ei207> with government regulations.
The restructuring program is <ei210>designed</ei210> to <ei211>increase</ei211> the company's tangible capital ratio. |
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The restructuring program is <ei210>designed</ei210> to <ei211>increase</ei211> the company's tangible capital ratio. It includes <ei213>removing</ei213> $242 million in good will from the books, <ei214>issuing</ei214> $150 million in preferred stock and <ei215>commencing</ei215> an exchange <ei216>offer</ei216> for $52 million in convertible bonds.
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Poughkeepsie Savings Bank <ei282>said</ei282> a <ei283>plan</ei283> to <ei284>sell</ei284> its South Carolina branch offices to First Citizens Bank, of Columbia, S.C., <ei285>fell</ei285> through.
Poughkeepsie also <ei286>expects</ei286> to <ei287>post</ei287> a one-time charge of $8.3 million, <ei288>resulting</ei288> in a net <ei289>loss</ei289> for <t62>the third quarter</t62>. The charge represents a write-down of the goodwill associated with Poughkeepsie's investment in the banks it is <ei290>trying</ei290> to <ei291>sell</ei291> and its North Carolina branches as well.
The thrift <ei292>announced</ei292> the plan <t63>Aug. 21</t63>. Among other reasons, high fees regulators imposed on certain transfers of thrift deposits to commercial banks "substantially <ei294>altered</ei294> the economics of the <ei295>transaction</ei295> for both parties," Poughkeepsie <ei296>said</ei296>. |
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Among other reasons, high fees regulators imposed on certain transfers of thrift deposits to commercial banks "substantially <ei294>altered</ei294> the economics of the <ei295>transaction</ei295> for both parties," Poughkeepsie <ei296>said</ei296>.
Additionally, the bank is <ei297>increasing</ei297> its loan-loss reserves for <t64>the third quarter</t64> by $8.5 million before taxes.
In <t65>the year-earlier third quarter</t65>, Poughkeepsie Savings <ei300>had</ei300> net income of $2.8 million, or 77 cents a share.
Poughkeepsie <ei302>said</ei302> it is <ei303>continuing</ei303> to <ei304>try</ei304> to <ei305>sell</ei305> itself, under a <t66>June</t66> <ei306>agreement</ei306> with a dissident-shareholder group. The bank also <ei307>said</ei307> its <ei308>effort</ei308> would <ei309>continue</ei309> past the <t67>Nov. 1</t67> deadline <ei310>set</ei310> in that <ei311>agreement</ei311> and that the <ei312>litigation</ei312> between the two sides might <ei313>resume</ei313> as a result. |
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The bank also <ei307>said</ei307> its <ei308>effort</ei308> would <ei309>continue</ei309> past the <t67>Nov. 1</t67> deadline <ei310>set</ei310> in that <ei311>agreement</ei311> and that the <ei312>litigation</ei312> between the two sides might <ei313>resume</ei313> as a result. The thrift and the holders had <ei315>suspended</ei315> their <ei316>lawsuits</ei316> as part of the <ei317>agreement</ei317>. |
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For The World, this is Pamela McCall in the BBC news room in London. More heavy <ei194>gunfire</ei194> in the Serbian province of Kosovo. It's <t31>the second day</t31> of an <ei195>offensive</ei195> by the security forces against villages populated by ethnic Albanians. BBC correspondent Karyn Coleman <ei196>reports</ei196> from Kosovo.
There were more accounts of people <ei198>fleeing</ei198> from the villages near where the offensive was <ei200>taking</ei200> place. |
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There were more accounts of people <ei198>fleeing</ei198> from the villages near where the offensive was <ei200>taking</ei200> place. They were too <ei201>afraid</ei201> to <ei202>stay</ei202>, <ei203>fearing</ei203> the forces may also <ei204>move</ei204> their <ei205>operations</ei205> further afield. By <t18>mid afternoon</t18>, official Serb sources were <ei206>saying</ei206> the <ei207>operation</ei207> was over, but that has not yet been <ei209>confirmed</ei209> from Belgrade, the capital of Serbia, which is where the whole <ei210>attack</ei210> is <ei211>thought</ei211> to have been <ei212>planned</ei212>. The ethnic Albanians here in Kosovo are considerably <ei213>worried</ei213> about <t19>the future</t19> and <ei214>fear</ei214> they are <ei215>witnessing</ei215> the <ei216>beginnings</ei216> of a much wider <ei217>conflict</ei217>. Karyn Coleman, BBC news, Pristina. |
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Automatic Data Processing Inc. <ei86>plans</ei86> to <ei87>redeem</ei87> on <t18>Nov. 16</t18> its $150 million of 6.5% convertible subordinated debentures <ei88>due</ei88> <t20>March 1, 2011</t20>.
The computing-services concern will <ei89>pay</ei89> $1,059.04 for each $1,000 face amount of debt. The conversion price for the debentures is $41.725 a share. In New York Stock Exchange composite trading <t21>Friday</t21>, Automatic Data <ei90>closed</ei90> at $46.50 a share, down $2.25.
If all the debt is <ei92>converted</ei92> to common, Automatic Data will <ei93>issue</ei93> about 3.6 million shares; <t24>last Monday</t24>, the company <ei94>had</ei94> nearly 73 million shares outstanding. |
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If all the debt is <ei92>converted</ei92> to common, Automatic Data will <ei93>issue</ei93> about 3.6 million shares; <t24>last Monday</t24>, the company <ei94>had</ei94> nearly 73 million shares outstanding.
Automatic Data is <ei95>redeeming</ei95> the bonds because the after-tax cost of the interest on the bonds is higher than the dividend yield on the common, a spokesman <ei96>said</ei96>. |
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Unisys Corp.'s <ei2806>announcement</ei2806> <t209>Friday</t209> of a $648.2 million <ei2807>loss</ei2807> for <t211>the third quarter</t211> showed that the company is <ei2808>moving</ei2808> even faster than <ei2809>expected</ei2809> to <ei2810>take</ei2810> <ei2811>write-offs</ei2811> on its various problems and <ei2812>prepare</ei2812> for a <ei2813>turnaround</ei2813> <t214>next year</t214>.
At the same time, the sheer size of the <ei2814>loss</ei2814>, coupled with a slowing of <ei2815>orders</ei2815>, <ei2816>made</ei2816> some securities analysts <ei2817>wonder</ei2817> just how strong that turnaround will be at the computer maker and defense-electronics concern.
"Unisys is <ei2819>getting</ei2819> <ei2820>clobbered</ei2820>. Just clobbered," <ei2821>said</ei2821> Ulric Weil, an analyst at Weil amp Associates who had once been <ei2933>high</ei2933> on the company. "The quarter was terrible, and the future looks anything but encouraging." |
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"The quarter was terrible, and the future looks anything but encouraging."
Unisys, whose revenue <ei2823>inched</ei2823> up 3.7% in <t2135>the quarter</t2135> to $2.35 billion from $2.27 billion in <t225>the year-earlier quarter</t225>, <ei2826>had</ei2826> an operating <ei2827>loss</ei2827> of about $30 million. On top of that, the Blue Bell, Pa., concern <ei2828>took</ei2828> a $230 million <ei2829>charge</ei2829> related to the <ei2830>layoffs</ei2830> of 8,000 employees. That is at the high end of the range of 7,000 to 8,000 employees that Unisys <ei2831>said</ei2831> <t228>a month ago</t228> would be <ei2832>laid</ei2832> off. Unisys <ei2833>said</ei2833> that should <ei2834>help</ei2834> it <ei2835>save</ei2835> $500 million a year in costs, again at the high end of the previously reported range of $400 million to $500 million. |
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Unisys <ei2833>said</ei2833> that should <ei2834>help</ei2834> it <ei2835>save</ei2835> $500 million a year in costs, again at the high end of the previously reported range of $400 million to $500 million.
The company also <ei2837>took</ei2837> a <ei2838>write-off</ei2838> of $150 million to <ei2839>cover</ei2839> <ei2840>losses</ei2840> on some fixed-price defense contracts, as some new managers <ei2841>took</ei2841> a hard <ei2842>look</ei2842> at the prospects for that slow-growing business. In addition, Unisys <ei2844>set</ei2844> up an unspecified reserve -- apparently $60 million to $70 million -- to <ei2845>cover</ei2845> the minimum amount it will have to <ei2846>pay</ei2846> the government because of its <ei2847>involvement</ei2847> in the defense-procurement <ei2848>scandal</ei2848>. Unisys also <ei2849>noted</ei2849> that it <ei2850>paid</ei2850> $78.8 million in taxes during <t235>the quarter</t235>, even though tax payments normally would be minimal in a quarter that produced such a big loss.
The tax payments will <ei2852>leave</ei2852> Unisys with $225 million in loss carry-forwards that will <ei2853>cut</ei2853> tax <ei2854>payments</ei2854> in <t237>future quarters</t237>. |
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"t237",
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] | Documents Creation Time: <t0>10/30/89</t0>
The tax payments will <ei2852>leave</ei2852> Unisys with $225 million in loss carry-forwards that will <ei2853>cut</ei2853> tax <ei2854>payments</ei2854> in <t237>future quarters</t237>. In addition, Unisys <ei2855>said</ei2855> it <ei2856>reduced</ei2856> computer inventories a further $100 million during <t239>the quarter</t239>, <ei2857>leaving</ei2857> it within $100 million of its goal of a <ei2859>reduction</ei2859> of $500 million by <t243>the end of the year</t243>.
Still, Unisys <ei2860>said</ei2860> its European business was <ei2861>weak</ei2861> during <t246>the quarter</t246>, a worrisome sign given that the company has <ei2862>relied</ei2862> on solid results overseas to <ei2863>overcome</ei2863> weakness in the U.S. over <t249>the past several quarters</t249>.
The company also <ei2865>reported</ei2865> slower <ei2866>growth</ei2866> in another important business: systems that use the Unix operating system. That would be a huge <ei2867>problem</ei2867> if it were to <ei2868>continue</ei2868>, because Unisys is <ei2869>betting</ei2869> its business on the assumption that customers <ei2871>want</ei2871> to <ei2872>move</ei2872> away from using operating systems that run on only one manufacturer's equipment and toward systems -- mainly Unix -- that work on almost anyone's machines. |
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"ei2871",
"ei2875",
"ei2879",
"ei2877",
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That would be a huge <ei2867>problem</ei2867> if it were to <ei2868>continue</ei2868>, because Unisys is <ei2869>betting</ei2869> its business on the assumption that customers <ei2871>want</ei2871> to <ei2872>move</ei2872> away from using operating systems that run on only one manufacturer's equipment and toward systems -- mainly Unix -- that work on almost anyone's machines.
In addition, Unisys must <ei2873>deal</ei2873> with its increasingly oppressive debt load. Debt has <ei2875>risen</ei2875> to around $4 billion, or about 50% of total capitalization. That means Unisys must <ei2877>pay</ei2877> about $100 million in interest <t256>every quarter</t256>, on top of $27 million in dividends on preferred stock.
Jim Unruh, Unisys's president, <ei2878>said</ei2878> he is <ei2879>approaching</ei2879> next year with caution. |
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] | Documents Creation Time: <t0>10/30/89</t0>
Jim Unruh, Unisys's president, <ei2878>said</ei2878> he is <ei2879>approaching</ei2879> next year with caution. He <ei2880>said</ei2880> the strength of the world-wide economy is <ei2881>suspect</ei2881>, and doesn't see much revenue growth in the cards.
He also <ei2882>said</ei2882> that the price wars <ei2883>flaring</ei2883> up in parts of the computer industry will <ei2884>continue</ei2884> through <t259>next year</t259>. He <ei2885>said</ei2885> the <ei2886>move</ei2886> toward standard operating systems means customers aren't <ei2887>locked</ei2887> into buying from their traditional computer supplier and can force prices down. That, he <ei2888>said</ei2888>, is why Unisys is <ei2889>overhauling</ei2889> its whole business: It <ei2890>needs</ei2890> to <ei2891>prepare</ei2891> for a world in which profit margins will be <ei2892>lower</ei2892> than computer companies have been <ei2893>used</ei2893> to. |
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That, he <ei2888>said</ei2888>, is why Unisys is <ei2889>overhauling</ei2889> its whole business: It <ei2890>needs</ei2890> to <ei2891>prepare</ei2891> for a world in which profit margins will be <ei2892>lower</ei2892> than computer companies have been <ei2893>used</ei2893> to.
"We've <ei2894>approached</ei2894> this not as a response to a temporary condition in the industry but as a fundamental change the industry is going through," Mr. Unruh <ei2895>said</ei2895>. "The information-systems industry is still going to be a high-growth <ei2896>business</ei2896>, and we're <ei2897>confident</ei2897> that we <ei2898>have</ei2898> tremendous assets as a company. But we don't <ei2899>minimize</ei2899> the <ei2900>challenges</ei2900> of <t1998>the near term</t1998>."
Securities analysts were even more <ei2901>cautious</ei2901>, having been <ei2902>burned</ei2902> repeatedly on Unisys <t2000>this year</t2000>. |
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Securities analysts were even more <ei2901>cautious</ei2901>, having been <ei2902>burned</ei2902> repeatedly on Unisys <t2000>this year</t2000>. Some had <ei2903>predicted</ei2903> <ei2932>earnings</ei2932> of more than $4 a share for <t2003>this year</t2003>, up from <t2008>last year</t2008>'s fully diluted $3.27 a share on earnings of $680.6 million. But the company <ei2906>said</ei2906> <t2009>Friday</t2009> that it <ei2907>had</ei2907> <ei2908>losses</ei2908> of $673.3 million through <t2012>the first nine months</t2012>, compared with <ei2909>earnings</ei2909> <t2013>a year</t2013> earlier of $382.2 million, or $2.22 a share fully diluted, as revenue <ei2910>inched</ei2910> up 1.4% to $7.13 billion from $7.03 billion. And Unisys is <ei2913>expected</ei2913> to <ei2914>do</ei2914> little better than break even in <t2021>the fourth quarter</t2021>.
So Steve Milunovich at First Boston <ei2915>said</ei2915> he is <ei2916>cutting</ei2916> his earnings <ei2918>estimate</ei2918> for <t2022>next year</t2022> to $2 a share from $3. |
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So Steve Milunovich at First Boston <ei2915>said</ei2915> he is <ei2916>cutting</ei2916> his earnings <ei2918>estimate</ei2918> for <t2022>next year</t2022> to $2 a share from $3. "I was feeling like I was too high to begin with," he said.
Mr. Weil of Weil amp Associates said he will <ei2922>remain</ei2922> at $1 a share for <t2029>next year</t2029> but <ei2923>said</ei2923> he <ei2924>wonders</ei2924> whether even that low target is <ei2942>at</ei2942> risk. "The break-even point for <t2034>next year</t2034> is much <ei2926>lower</ei2926>, but is it <ei2943>low</ei2943> enough?" he <ei2928>asked</ei2928>. |
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Afghanistan has been at war for <t70>twenty years</t70>, <ei433>leaving</ei433> a large part of the country's male population dead or in exile. The United Nations <ei436>says</ei436> women and children <ei437>make</ei437> up about seventy-five percent of the Afghan population. An Afghan refugee in Switzerland, Homira Atimadi, is a senior official of a group called the International Working Group on Afghan Women. The group has branches in Pakistan, Iran, Europe, Australia, and North America. Ms. Atimadi <ei438>says</ei438> Afghan women have been victims of severe <ei440>violations</ei440> of human rights for <t77>the past twenty years</t77> and she <ei441>says</ei441> she <ei442>sees</ei442> no <ei443>end</ei443> to the misery. |
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Ms. Atimadi <ei438>says</ei438> Afghan women have been victims of severe <ei440>violations</ei440> of human rights for <t77>the past twenty years</t77> and she <ei441>says</ei441> she <ei442>sees</ei442> no <ei443>end</ei443> to the misery. She <ei445>says</ei445> security under the fundamentalist Taleban government is <ei447>better</ei447>, but everything else is <ei448>worse</ei448>.
Women do not <ei449>become</ei449> victims of armed <ei451>attack</ei451>, but they do not have the right to <ei454>work</ei454>. And <t87>today</t87>, the right to work is <ei455>equal</ei455> to r- the right to survival.
Ms. Atimadi <ei456>says</ei456> the <ei457>war</ei457> has <ei458>created</ei458> a nation of widows. |
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Ms. Atimadi <ei456>says</ei456> the <ei457>war</ei457> has <ei458>created</ei458> a nation of widows. Women have <ei460>become</ei460> the sole <ei461>support</ei461> of their families. Yet, the Taliban have <ei462>forbidden</ei462> them to <ei463>work</ei463>. She <ei464>says</ei464> this <ei465>puts</ei465> the very existence of women's families at risk. She <ei467>says</ei467> the plight of women in urban areas is <ei469>greater</ei469> than that which exists in rural parts of the country. |
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She <ei467>says</ei467> the plight of women in urban areas is <ei469>greater</ei469> than that which exists in rural parts of the country. In cities, such as the capital Kabul, women are totally <ei470>dependent</ei470> on international aid for survival. Ms. Atimadi <ei472>says</ei472> the women of Kabul <ei473>symbolize</ei473> the suffering of all the women in Afghanistan.
The aim is to <ei475>bring</ei475> in not only the focus on women's right to education, access to work, but <ei476>look</ei476> beyond that and <ei477>look</ei477> at the roots of, uh of these problems. These are only the symptoms of the problems that are <ei478>facing</ei478> Afghanistan. |
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These are only the symptoms of the problems that are <ei478>facing</ei478> Afghanistan. For women in Afghanistan to be <ei490>able</ei490> to <ei480>realize</ei480> their rights, there have to be conditions of peace and justice.
Ms. Atimadi <ei482>says</ei482> that is the primary focus of her group, peace and justice. She <ei484>says</ei484> her group is <ei485>appealing</ei485> to individuals, to the international community, and to the combatants and people of Afghanistan to <ei486>stop</ei486> the <ei487>bloodletting</ei487> which has <ei488>torn</ei488> the country apart. Lisa Schlein for VOA News, Geneva. |
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Young's Market Co., a wholesaler of spirits, wines and other goods, <ei81>said</ei81> it will <ei82>merge</ei82> with a new corporation <ei83>formed</ei83> by the Underwood family, which controls Young's.
Under terms of the <ei84>agreement</ei84>, shareholders other than the Underwoods will <ei85>receive</ei85> $3,500 a share at <ei86>closing</ei86>, which is <ei87>expected</ei87> in <t13>December</t13>. The Underwood family <ei88>said</ei88> that holders of more than a majority of the stock of the company have <ei89>approved</ei89> the <ei90>transaction</ei90> by written consent. |
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Magna International Inc.'s chief financial officer, James McAlpine, <ei1989>resigned</ei1989> and its chairman, Frank Stronach, is <ei1990>stepping</ei1990> in to <ei1991>help</ei1991> <ei1992>turn</ei1992> the automotive-parts manufacturer around, the company <ei1993>said</ei1993>.
Mr. Stronach will <ei1994>direct</ei1994> an <ei1995>effort</ei1995> to <ei1996>reduce</ei1996> overhead and <ei1997>curb</ei1997> capital <ei1998>spending</ei1998> "until a more satisfactory level of profit is <ei1999>achieved</ei1999> and <ei2000>maintained</ei2000>," Magna <ei2001>said</ei2001>.
Stephen Akerfeldt, currently vice president finance, will <ei2002>succeed</ei2002> Mr. McAlpine.
An ambitious <ei2003>expansion</ei2003> has <ei2004>left</ei2004> Magna with excess capacity and a heavy debt load as the automotive industry <ei2005>enters</ei2005> a <ei2006>downturn</ei2006>. The company has <ei2007>reported</ei2007> <ei2008>declines</ei2008> in operating profit in <t180>each of the past three years</t180>, despite steady sales <ei2009>growth</ei2009>. |
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The company has <ei2007>reported</ei2007> <ei2008>declines</ei2008> in operating profit in <t180>each of the past three years</t180>, despite steady sales <ei2009>growth</ei2009>.
Magna <t66>recently</t66> <ei2010>cut</ei2010> its quarterly dividend in half and the company's Class A shares are <ei2011>wallowing</ei2011> far below their <t68>52-week</t68> <ei2012>high</ei2012> of 16.125 Canadian dollars (US$13.73). On the Toronto Stock Exchange <t69>yesterday</t69>, Magna shares <ei2013>closed</ei2013> up 37.5 Canadian cents to C$9.625.
Mr. Stronach, founder and controlling shareholder of Magna, <ei2014>resigned</ei2014> as chief executive officer <t228>last year</t228> to <ei2015>seek</ei2015>, unsuccessfully, a seat in Canada's Parliament.
Analysts <ei2017>said</ei2017> Mr. Stronach <ei2018>wants</ei2018> to <ei2019>resume</ei2019> a more influential role in <ei2020>running</ei2020> the company. |
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Analysts <ei2017>said</ei2017> Mr. Stronach <ei2018>wants</ei2018> to <ei2019>resume</ei2019> a more influential role in <ei2020>running</ei2020> the company. They <ei2021>expect</ei2021> him to <ei2022>cut</ei2022> costs throughout the organization.
The company <ei2023>said</ei2023> Mr. Stronach will personally <ei2024>direct</ei2024> the <ei2025>restructuring</ei2025>, <ei2026>assisted</ei2026> by Manfred Gingl, president and chief executive. Neither they nor Mr. McAlpine could be <ei2027>reached</ei2027> for comment.
Magna <ei2028>said</ei2028> Mr. McAlpine <ei2029>resigned</ei2029> to <ei2030>pursue</ei2030> a consulting career, with Magna as one of his clients. |
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Ratners Group PLC, a fast-growing, acquisition-minded London-based jeweler, <ei150>raised</ei150> its price for Seattle-based specialty jeweler Weisfield's Inc. to $57.50 a share, or $62.1 million, from $50 a share, or $55 million, after another concern <ei153>said</ei153> it would be prepared to <ei154>outbid</ei154> Ratners's initial <ei155>offer</ei155>. The other concern wasn't identified.
Ratners's chairman, Gerald Ratner, <ei156>said</ei156> the deal remains of "substantial benefit to Ratners." In London at <t28>mid-afternoon yesterday</t28>, Ratners's shares were <ei158>up</ei158> 2 pence (1.26 cents), at 260 pence ($1.64).
The sweetened <ei160>offer</ei160> <ei161>has</ei161> acceptances from more than 50% of Weisfield's shareholders, and it is <ei163>scheduled</ei163> for <ei164>completion</ei164> by <t36>Dec. 10</t36>. |
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"ei164",
"ei160",
"ei167",
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The sweetened <ei160>offer</ei160> <ei161>has</ei161> acceptances from more than 50% of Weisfield's shareholders, and it is <ei163>scheduled</ei163> for <ei164>completion</ei164> by <t36>Dec. 10</t36>.
The <ei165>acquisition</ei165> of 87-store Weisfield's <ei166>raises</ei166> Ratners's U.S. presence to 450 stores. About 30% of Ratners's profit <t101>already</t101> is <ei167>derived</ei167> from the U.S. |
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] | Documents Creation Time: <t0>03/01/1998 14:11:00</t0>
JERUSALEM (AP)_ Top Israeli officials <ei1998>sent</ei1998> strong new signals <t123>Sunday</t123> that Israel <ei2000>wants</ei2000> to <ei2001>withdraw</ei2001> from southern Lebanon, where a costly <ei2002>war</ei2002> of attrition has been steadily <ei2003>claiming</ei2003> soldiers' lives. Prime Minister Benjamin Netanyahu <ei2004>told</ei2004> his Cabinet on <t125>Sunday</t125> that Israel was <ei2005>willing</ei2005> to <ei2006>withdraw</ei2006> from southern Lebanon provided Israel's northern frontier could be <ei2007>secured</ei2007>. ``If the Lebanese government will <ei2008>cooperate</ei2008> with us in <ei2009>making</ei2009> appropriate security arrangements in south Lebanon, we will be happy to <ei2010>get</ei2010> out of Lebanon in the framework of implementation of U.N. Resolution 425,'' Netanyahu <ei2011>told</ei2011> his ministers. That <t128>1978</t128> resolution <ei2013>calls</ei2013> for Israel's unconditional <ei2014>withdrawal</ei2014> from the self-declared security zone it <ei2015>occupies</ei2015> in south Lebanon, and for the <ei2016>deployment</ei2016> of the Lebanese army and U.N. forces to <ei2017>ensure</ei2017> security along the Lebanese-Israeli border. |
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] | APW19980301.0720_1 | [
"ei2019",
"t128",
"ei2021",
"ei2014",
"ei2024",
"ei2029",
"ei2027",
"ei2028",
"ei2030",
"ei2022",
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"ei2020",
"ei2023",
"ei2026",
"ei2016",
"ei2013",
"ei2017",
"ei2015",
"ei2018",
"t127",
"t0"
] | Documents Creation Time: <t0>03/01/1998 14:11:00</t0>
That <t128>1978</t128> resolution <ei2013>calls</ei2013> for Israel's unconditional <ei2014>withdrawal</ei2014> from the self-declared security zone it <ei2015>occupies</ei2015> in south Lebanon, and for the <ei2016>deployment</ei2016> of the Lebanese army and U.N. forces to <ei2017>ensure</ei2017> security along the Lebanese-Israeli border. On <t127>Friday</t127>, Netanyahu <ei2018>said</ei2018> he <ei2019>had</ei2019> ``no qualms'' about <ei2020>implementing</ei2020> the U.N. resolution, as long as Israel <ei2021>had</ei2021> ``the necessary security safeguards.'' Cabinet minister Michael Eitan <ei2022>said</ei2022> <t129>Sunday</t129> that Netanyahu's <ei2023>remarks</ei2023> <ei2024>marked</ei2024> a substantive <ei2025>change</ei2025> in Israel's position. ``We will <ei2026>defend</ei2026> our north from the international border,'' <ei2027>said</ei2027> Eitan, the science minister. ``No one <ei2028>wants</ei2028> to <ei2029>stay</ei2029> in Lebanon; thus we <ei2030>think</ei2030> it better to <ei2032>withdraw</ei2032>.'' |
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] | APW19980301.0720_2 | [
"ei2036",
"ei2029",
"ei2028",
"ei2043",
"ei2033",
"ei2040",
"ei2035",
"ei2030",
"ei2034",
"ei2044",
"ei2039",
"ei2032",
"ei2038",
"ei2037",
"ei2041",
"ei2042",
"t134",
"t0"
] | Documents Creation Time: <t0>03/01/1998 14:11:00</t0>
``No one <ei2028>wants</ei2028> to <ei2029>stay</ei2029> in Lebanon; thus we <ei2030>think</ei2030> it better to <ei2032>withdraw</ei2032>.'' Uri Lubrani, Israel's top official for Lebanon affairs, also <ei2033>suggested</ei2033> Israel was <ei2034>willing</ei2034> to <ei2035>modify</ei2035> its political goals in Lebanon. ``This is a new thing...it means that we are <ei2036>willing</ei2036> to <ei2037>talk</ei2037> <t134>today</t134> _ full stop _ about security,'' Lubrani <ei2038>told</ei2038> Israel's Channel One. ``We have <ei2039>gotten</ei2039> off the issue of peace, off the issue of normalization.'' As the death toll in Lebanon has <ei2040>mounted</ei2040>, the Israeli government has been <ei2041>faced</ei2041> with a growing grassroots <ei2042>movement</ei2042> <ei2043>calling</ei2043> for Israel's unilateral <ei2044>withdrawal</ei2044> from Lebanon. |
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] | APW19980301.0720_3 | [
"ei2046",
"t1981",
"ei2043",
"ei2040",
"ei2045",
"ei2053",
"ei2050",
"ei2044",
"ei2047",
"t1979",
"t1980",
"t1982",
"ei2049",
"ei2052",
"ei2041",
"ei2042",
"ei2048",
"t0"
] | Documents Creation Time: <t0>03/01/1998 14:11:00</t0>
As the death toll in Lebanon has <ei2040>mounted</ei2040>, the Israeli government has been <ei2041>faced</ei2041> with a growing grassroots <ei2042>movement</ei2042> <ei2043>calling</ei2043> for Israel's unilateral <ei2044>withdrawal</ei2044> from Lebanon. Since <t1979>1985</t1979> _ when the Israelis <ei2045>created</ei2045> a security buffer zone southern Lebanon _ nearly 200 Israeli soldiers have been <ei2046>killed</ei2046> <ei2047>fighting</ei2047> Hezbollah and other guerrillas. <t1980>Last week</t1980>, Hezbollah fighters <ei2048>killed</ei2048> three Israeli soldiers and seriously <ei2049>wounded</ei2049> six others. The Israelis <ei2050>suffered</ei2050> a record 39 deaths in southern Lebanon <t1981>last year</t1981>. In addition, 73 soldiers were <ei2052>killed</ei2052> en route to Lebanon when two military helicopters <ei2053>crashed</ei2053> <t1982>last February</t1982>. |
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In addition, 73 soldiers were <ei2052>killed</ei2052> en route to Lebanon when two military helicopters <ei2053>crashed</ei2053> <t1982>last February</t1982>. The Maariv newspaper <ei2054>said</ei2054> <t1983>Sunday</t1983> that Netanyahu's comments <t1985>last week</t1985> were in response to signals from Syria that it <ei2057>wants</ei2057> to <ei2058>renew</ei2058> the long-stalled peace <ei2059>talks</ei2059> between the two countries. The newspaper, <ei2060>quoting</ei2060> ``secret reports,'' <ei2062>said</ei2062> Syria had <ei2063>indicated</ei2063> its interest in <ei2064>resuming</ei2064> <ei2065>talks</ei2065> in <ei2066>remarks</ei2066> <ei2067>made</ei2067> <t1986>last week</t1986> by the Syrian ambassador to Washington, Walid Mualem, in a <ei2068>lecture</ei2068> to a closed forum in Baltimore. Two top aides to Netanyahu, political adviser Uzi Arad and Cabinet Secretary Danny Naveh, <ei2069>left</ei2069> for Europe on <t1987>Sunday</t1987>, apparently to <ei2070>investigate</ei2070> the Syrian issue, the newspaper <ei2071>said</ei2071>. Israel-Syrian <ei2072>talks</ei2072> have been <ei2073>cut</ei2073> off for <t1988>nearly two years</t1988>. |
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Israel-Syrian <ei2072>talks</ei2072> have been <ei2073>cut</ei2073> off for <t1988>nearly two years</t1988>. Defense Minister Yitzhak Mordechai was the first senior Israeli official to <ei2074>refer</ei2074> to U.N. resolution 425 in a <ei2075>speech</ei2075> <t1989>six weeks ago</t1989>, <ei2076>saying</ei2076> at <t1993>the time</t1993> he was <ei2077>willing</ei2077> to <ei2078>withdraw</ei2078> troops in exchange for guarantees that Israel would not be <ei2081>attacked</ei2081>. |
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Sotheby's Holdings Inc., the parent of the auction house Sotheby's, <ei59>said</ei59> its net <ei60>loss</ei60> for the seasonally slow <t21>third quarter</t21> <ei61>narrowed</ei61> from <t22>a year earlier</t22> on a <ei62>leap</ei62> in operating revenue.
The New York-based company <ei63>reported</ei63> a <t36>third-quarter</t36> net <ei64>loss</ei64> of $5.1 million, or 10 cents a share, compared with a <t37>year-earlier</t37> net <ei65>loss</ei65> of $6.2 million, or 12 cents a share. Operating revenue <ei66>surged</ei66> 54% in <t38>the latest period</t38> to $42.9 million from $27.7 million.
The company <ei67>said</ei67> 80% of its auction business is usually <ei68>conducted</ei68> in the <t40>second</t40> and <t41>fourth quarters</t41>, with <t42>the current quarter</t42> having <ei69>begun</ei69> " extremely well." |
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Conseco Inc. <ei87>said</ei87> it is <ei88>calling</ei88> for the <ei89>redemption</ei89> on <t15>Dec. 7</t15> of all the 800,000 remaining shares outstanding of its $1.875 Series A convertible preferred stock at $26.805 a share.
The insurance concern <ei90>said</ei90> all conversion rights on the stock will <ei92>terminate</ei92> on <t18>Nov. 30</t18>. Until <t22>then</t22>, Conseco <ei93>said</ei93> the stock <ei94>remains</ei94> convertible into common stock at the rate of 1.439 shares of common stock for each share of preferred stock, which is equivalent to a conversion price of $17.50 a common share. In New York Stock Exchange trading <t19>Friday</t19>, Conseco <ei95>closed</ei95> at $19.50, down 25 cents. |
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Hudson's Bay Co. <ei213>announced</ei213> terms of a previously proposed rights issue that is <ei214>expected</ei214> to <ei215>raise</ei215> about 396 million Canadian dollars (US$337 million) net of expenses.
Proceeds of the offering will be <ei216>used</ei216> to <ei217>redeem</ei217> C$264 million of preferred shares and to <ei218>reduce</ei218> short-term debt, the company <ei219>said</ei219>.
Canada's largest department store operator <ei220>said</ei220> the rights offering will <ei222>entitle</ei222> holders of its ordinary shares, except residents in the U.S. and Britain, to <ei223>subscribe</ei223> for two additional shares for every five shares held at a price of C$31.25 a share. The record date is <t50>Nov. 9</t50>.
The company <ei225>has</ei225> about 31 million ordinary shares outstanding. |
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The company <ei225>has</ei225> about 31 million ordinary shares outstanding. On the Toronto Stock Exchange, Hudson's Bay shares <ei226>closed</ei226> at C$35, up 12.5 cents.
Hudson's Bay <ei228>said</ei228> that Woodbridge Co., which <t51>currently</t51> <ei229>holds</ei229> about 77% of the ordinary shares, will <ei230>subscribe</ei230> for all the shares to which it is entitled and for any shares that aren't otherwise taken up. Woodbridge is a holding company owned by Toronto's Thomson family.
Hudson's Bay <ei231>said</ei231> it will <ei232>redeem</ei232> 9.5 million Series H preferred shares on <t52>Oct. 31</t52> at a price of C$27.75 each. |
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Hudson's Bay <ei231>said</ei231> it will <ei232>redeem</ei232> 9.5 million Series H preferred shares on <t52>Oct. 31</t52> at a price of C$27.75 each. The <ei233>move</ei233> was <ei234>approved</ei234> at a special shareholders' <ei235>meeting</ei235> <t53>yesterday</t53>.
Gary Lukassen, chief financial officer, <ei236>said</ei236> <ei237>redemption</ei237> of the preferred shares, originally <ei238>issued</ei238> at C$25 each, will <ei239>eliminate</ei239> dividend <ei240>payments</ei240> of C$17.9 million <t1000>annually</t1000>. |
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Some lousy earnings reports <ei481>whacked</ei481> the stock market, but bond prices <ei482>fell</ei482> only slightly and the dollar <ei483>rose</ei483> a little against most major currencies.
The Dow Jones Industrial Average <ei484>tumbled</ei484> 39.55 points, to 2613.73, in active trading. Long-term Treasury bonds <ei486>ended</ei486> slightly higher. The dollar <ei487>rose</ei487> modestly against the mark and the yen, but <ei488>soared</ei488> against the pound following the <ei489>resignation</ei489> of Britain's chancellor of the Exchequer, Nigel Lawson.
Analysts have <ei490>complained</ei490> that <t176>third-quarter</t176> corporate earnings haven't been very <ei542>good</ei542>, but the effect <ei492>hit</ei492> home particularly hard <t95>yesterday</t95>. |
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Analysts have <ei490>complained</ei490> that <t176>third-quarter</t176> corporate earnings haven't been very <ei542>good</ei542>, but the effect <ei492>hit</ei492> home particularly hard <t95>yesterday</t95>. Compaq Computer <ei493>nose-dived</ei493> $8.625 a share, to $100, and <ei495>pulled</ei495> other technology issues lower after <ei496>reporting</ei496> lower-than-expected earnings after the stock market <ei498>closed</ei498> <t99>Wednesday</t99>. <t100>Later yesterday</t100> the nation's major auto makers <ei499>added</ei499> to the gloom when they each <ei500>reported</ei500> their core auto operations were net <ei501>losers</ei501> in <t103>the third quarter</t103>.
The less-than-robust <t104>third-quarter</t104> <ei502>results</ei502> came amid renewed concern about the volatility of stock prices and the role of computer-aided program trading. Taken together, the worries <ei507>prompted</ei507> a broad <ei508>sell-off</ei508> of stocks. |
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Taken together, the worries <ei507>prompted</ei507> a broad <ei508>sell-off</ei508> of stocks. The number of stocks on the New York Stock Exchange that <ei509>fell</ei509> in price <t110>yesterday</t110> exceeded 1,000, a key measure of underlying sentiment among technical analysts.
Although the government <ei510>said</ei510> the economy <ei511>grew</ei511> an estimated 2.5% in <t112>the third quarter</t112>, in line with expectations, analysts are increasingly <ei513>predicting</ei513> much more sluggish <ei514>growth</ei514> -- and therefore more corporate earnings <ei515>disappointments</ei515> -- for <t116>the fourth quarter</t116>.
"There are a lot more downward <ei516>revisions</ei516> of earnings forecasts than upward <ei518>revisions</ei518>," <ei519>said</ei519> Abby Joseph Cohen, a market strategist at Drexel Burnham Lambert. "People are <ei520>questioning</ei520> corporate profits as a pillar of support for the equity market." |
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"People are <ei520>questioning</ei520> corporate profits as a pillar of support for the equity market."
The bond market was <ei521>unmoved</ei521> by the economic statistics. While bond investors would have <ei522>preferred</ei522> <ei523>growth</ei523> to <ei541>be</ei541> a little slower, they were <ei524>cheered</ei524> by inflation measures in the data that showed prices <ei525>rising</ei525> at a modest annual rate of 2.9%. That is another small <ei526>encouragement</ei526> for the Federal Reserve to <ei527>lower</ei527> interest rates in <t121>coming weeks</t121>, they <ei528>reasoned</ei528>.
In major market <ei529>activity</ei529>: Stock prices <ei530>fell</ei530> sharply in active trading. |
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In major market <ei529>activity</ei529>: Stock prices <ei530>fell</ei530> sharply in active trading. Volume on the New York Stock Exchange <ei531>totaled</ei531> 175.2 million shares. Declining issues on the Big Board <ei532>outstripped</ei532> gainers 1,141 to 406.
Bond prices were barely <ei533>higher</ei533>. The Treasury's benchmark <t500>30-year</t500> <ei534>rose</ei534> fractionally. |
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The Treasury's benchmark <t500>30-year</t500> <ei534>rose</ei534> fractionally. Yield on the issue was 7.88%.
The dollar <ei535>rose</ei535> modestly against most major currencies. In late New York trading the dollar was at 1.8400 marks and 142.10 yen compared with 1.8353 marks and 141.52 yen <t130>Wednesday</t130>. The dollar <ei538>soared</ei538> against the pound, which was at $1.5765 compared with $1.6145 <t131>Wednesday</t131>. |
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IMA Holdings Corp. <ei386>completed</ei386> its $3 billion <ei387>acquisition</ei387> of American Medical International Inc., <ei388>purchasing</ei388> 63 million shares, or 86%, of the Los Angeles-based health-care services concern for $26.50 a share. The price also includes assumption of about $1.4 billion in debt.
IMA is a group that includes First Boston Corp. and the Pritzker family of Chicago through the leveraged buy-out fund Harry Gray Melvyn Klein amp Partners. Harry J. Gray and Melvyn N. Klein, along with five other IMA designees, were <ei389>named</ei389> to <ei390>join</ei390> American Medical's 10-member board. |
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Gray and Melvyn N. Klein, along with five other IMA designees, were <ei389>named</ei389> to <ei390>join</ei390> American Medical's 10-member board.
The <ei391>completion</ei391> of the merger <ei393>agreement</ei393> follows <t91>months</t91> of <ei394>twists</ei394> and <ei395>turns</ei395>. In <t93>January</t93>, American Medical <ei396>brought</ei396> in a new chief executive officer, Richard A. Gilleland, 45, who will <ei397>remain</ei397> as chairman, president and chief executive. <t96>A few days</t96> later, American Medical <ei398>announced</ei398> sharply lower earnings, <ei400>taking</ei400> charges of $24 million for insurance reserves and canceled real estate leases.
In <t97>March</t97>, American Medical <ei403>received</ei403> a $24-a-share <ei404>offer</ei404> to <ei405>take</ei405> the company private from an investor group including large holder M. Lee Pearce. |
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In <t97>March</t97>, American Medical <ei403>received</ei403> a $24-a-share <ei404>offer</ei404> to <ei405>take</ei405> the company private from an investor group including large holder M. Lee Pearce. It also was <ei406>considering</ei406> a <ei407>restructuring</ei407> to <ei408>help</ei408> <ei409>boost</ei409> the stock price. A group including several members of the the Bass family of Texas <ei410>urged</ei410> the company to <ei411>take</ei411> some steps to <ei412>maximize</ei412> shareholder value.
<t98>The following month</t98>, the company <ei413>put</ei413> itself up for sale. It <ei415>received</ei415> more <ei416>offers</ei416>, but the <ei417>auction</ei417> was surprisingly <ei418>won</ei418> by IMA, which <ei419>bid</ei419> $28 a share and <ei420>asked</ei420> Mr. Gilleland to <ei421>stay</ei421> on as an equity participant. |
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It <ei415>received</ei415> more <ei416>offers</ei416>, but the <ei417>auction</ei417> was surprisingly <ei418>won</ei418> by IMA, which <ei419>bid</ei419> $28 a share and <ei420>asked</ei420> Mr. Gilleland to <ei421>stay</ei421> on as an equity participant. He <ei422>indicated</ei422> that some assets might be <ei423>sold</ei423> off to <ei424>service</ei424> the debt.
Then, after <ei425>extending</ei425> its offer four times <ei426>waiting</ei426> for a congressional tax <ei427>ruling</ei427>, IMA <t99>early this month</t99> <ei428>lowered</ei428> its offer to $26.50 a share amid turbulence in the junk bond market. American Medical accepted the offer, meanwhile <ei431>indicating</ei431> it had <ei432>heard</ei432> from two other suitors. But they never <ei433>materialized</ei433> and IMA <ei434>completed</ei434> the <ei435>purchase</ei435> <t100>yesterday</t100>. |
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Xerox Corp. has <ei131>told</ei131> employees in its Crum amp Forster personal insurance operations that it is <ei132>laying</ei132> off about 300 people, or 25% of the staff.
A spokeswoman for Crum amp Forster <ei133>said</ei133> employees were <ei134>told</ei134> <t21>early this week</t21> that numerous staff functions for the personal insurance lines were going to be <ei136>centralized</ei136> as a cost-cutting move.
She <ei137>said</ei137> the <ei138>move</ei138> would <ei139>result</ei139> in a after-tax charge of less than $4 million to be <ei140>spread</ei140> over <t23>the next three quarters</t23>. By comparison, for <t24>the first nine months</t24>, Xerox <ei141>earned</ei141> $492 million, or $4.55 a share, on revenue of $12.97 billion.
Earnings at Xerox's financial-services operations actually <ei142>rose</ei142> slightly, but that was largely because capital gains at Crum amp Forster <ei143>offset</ei143> Hurricane Hugo payments and the reserves set up to cover future payments. |
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Earnings at Xerox's financial-services operations actually <ei142>rose</ei142> slightly, but that was largely because capital gains at Crum amp Forster <ei143>offset</ei143> Hurricane Hugo payments and the reserves set up to cover future payments.
Property/casualty insurance has been a tough business in <t25>recent quarters</t25>, as pricing has been cutthroat and natural disasters such as Hurricane Hugo and the California earthquake have resulted in huge payments. |
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"ei1998",
"ei1990",
"ei1992",
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"t49",
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] | Documents Creation Time: <t0>11/01/89</t0>
QVC Network Inc. <ei1990>said</ei1990> it <ei1991>completed</ei1991> its <ei1992>acquisition</ei1992> of CVN Cos. for about $423 million.
QVC <ei1993>agreed</ei1993> to <ei1994>pay</ei1994> $19 and one-eighth QVC share for each of CVN's 20 million fully diluted shares.
The <ei1995>acquisition</ei1995> <ei1996>brings</ei1996> together the two largest competitors to Home Shopping Network Inc., which <t49>now</t49> <ei1997>reaches</ei1997> more viewers than any other company in the video shopping industry. Among them, Home Shopping, QVC and CVN already <ei1998>control</ei1998> most of that young and fast-growing market, which <t64>last year</t64> <ei1999>had</ei1999> <ei2000>sales</ei2000> of about $1.4 billion. |
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Coda Energy Inc. <ei54>said</ei54> it <ei55>arranged</ei55> a $50 million credit facility with NCNB Texas National Bank, a unit of NCNB Corp., of Charlotte, N.C. The Dallas oil and gas concern <ei57>said</ei57> that $10 million of the facility would be <ei58>used</ei58> to <ei59>consolidate</ei59> the company's $8.1 million of existing bank debt, to <ei60>repurchase</ei60> 4 million of its 4.9 million shares outstanding of Series D convertible preferred stock, and to <ei61>purchase</ei61> a 10% net-profits interest in certain oil and gas properties from one of its existing lenders, National Canada Corp. The remaining $40 million can be <ei62>used</ei62> over <t21>three years</t21> for oil and gas acquisitions, the company <ei63>said</ei63>.
Ted Eubank, Coda's president, <ei64>said</ei64> the loan carries an interest rate of prime plus one percentage point, with 85% of the company's net oil and gas revenue <t22>each month</t22> <ei65>dedicated</ei65> to repayment. The company <ei66>put</ei66> up "virtually all" of its oil and gas properties as collateral, he <ei67>said</ei67>. |
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Reuters Holdings PLC <ei489>said</ei489> Michael Reupke <ei490>resigned</ei490> as general manager to pursue unspecified interests, a <ei491>move</ei491> the news organization termed an "amicable separation."
Mr. Reupke, 52 years old and a <t42>27-year</t42> Reuters veteran, had been the information-services company's general <ei551>manager</ei551> for only <t43>six months</t43>. His <ei495>appointment</ei495> to that post, which has senior administrative, staff and policy responsibilities, <ei497>followed</ei497> a <t44>several-year</t44> <ei498>tenure</ei498> as Reuters's editor in chief. No successor was <ei501>named</ei501>, and Mr. Reupke's duties will be <ei503>split</ei503> among three other senior Reuters executives, the company <ei504>said</ei504>.
In a telephone interview, Mr. Reupke <ei505>said</ei505> his <ei506>departure</ei506> was for "personal reasons," which he declined to specify. |
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In a telephone interview, Mr. Reupke <ei505>said</ei505> his <ei506>departure</ei506> was for "personal reasons," which he declined to specify. "There is no business reason for my <ei507>departure</ei507>," nor any disagreement over policy, he <ei508>added</ei508>. He also <ei509>rejected</ei509> reports that his <ei511>departure</ei511> <ei512>stemmed</ei512> from disappointment the general manager's post hadn't also <ei515>led</ei515> to a board directorship at the London-based news organization.
Mr. Reupke was one of three executives on Reuters's eight-person executive committee who didn't also <ei517>serve</ei517> on the company's board of directors. "If I were <ei519>choosing</ei519> the people of tomorrow, I would have <ei520>chosen</ei520> the people who are <t46>now</t46> <ei554>on</ei554> the board," he <ei522>said</ei522>. |
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"If I were <ei519>choosing</ei519> the people of tomorrow, I would have <ei520>chosen</ei520> the people who are <t46>now</t46> <ei554>on</ei554> the board," he <ei522>said</ei522>.
A Reuters spokesman <ei523>said</ei523> the <ei524>departure</ei524> <ei525>reflects</ei525> "no <ei526>change</ei526> in strategy or profits." Mark Shepperd, an analyst at UBS Phillips amp Drew in London, <ei529>said</ei529>, "I <ei530>suspect</ei530> (the <ei531>departure</ei531>) will be fairly <ei532>irrelevant</ei532> for the company. I would be very <ei533>surprised</ei533> if his <ei534>departure</ei534> <ei535>signals</ei535> any <ei536>change</ei536> in strategy or <ei538>change</ei538> in profit expectations." On London's Stock Exchange, Reuters shares <ei541>rose</ei541> five pence to 913 pence ($14.43). |
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On London's Stock Exchange, Reuters shares <ei541>rose</ei541> five pence to 913 pence ($14.43). In the U.S. over-the-counter market, American depositary shares for Reuters, each representing three shares in the London market, <ei542>closed</ei542> unchanged at $43.875.
The senior of the three executives who will <ei544>assume</ei544> Mr. Reupke's <ei545>duties</ei545> is Nigel Judah, 58, finance director and a Reuters board director. Peter Holland, 45, deputy general manager, <ei546>becomes</ei546> director of corporate affairs. And Patrick Mannix, 46, international technical manager, <ei548>becomes</ei548> director of group quality programs. |
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CMS ENERGY Corp. <ei159>said</ei159> management would <ei160>recommend</ei160> to its board <t14>today</t14> that its common stock dividend be <ei161>reinstated</ei161> at a "modest level" <t77>later this year</t77>. The Dearborn, Mich., energy company <ei162>stopped</ei162> <ei163>paying</ei163> a dividend in <t69>the third quarter of 1984</t69> because of <ei164>troubles</ei164> at its Midland nuclear plant. In addition, CMS <ei165>reported</ei165> <t15>third-quarter</t15> net of $68.2 million, or 83 cents a share, <ei167>up</ei167> from $66.8 million, or 81 cents a share, <t21>a year ago</t21>. |
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Service Corp. International <ei124>said</ei124> it <ei125>expects</ei125> to <ei126>report</ei126> net <ei127>income</ei127> of 15 cents a share for <t26>the third quarter</t26>. The company <ei128>said</ei128> it <ei129>expects</ei129> to <ei130>release</ei130> third-quarter results in <t27>mid-November</t27>.
The funeral home and cemetery operator <ei131>changed</ei131> from a fiscal year to a calendar year in <t28>December</t28>. In <t30>the comparable year-ago quarter</t30>, the <t31>second quarter</t31> ended <t32>Oct. 31</t32>, Service Corp. <ei132>had</ei132> a <ei133>loss</ei133> of about $12.5 million, or 26 cents a share, on revenue of $175.4 million. Results for <t33>that quarter</t33> included a $30 million, or 40 cents a share, <ei135>write-down</ei135> associated with the consolidation of a facility. |
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Anheuser-Busch Cos. <ei2257>said</ei2257> it <ei2258>plans</ei2258> to aggressively <ei2259>discount</ei2259> its major beer brands, <ei2260>setting</ei2260> the stage for a potentially bruising price <ei2261>war</ei2261> as the maturing industry's <ei2262>growth</ei2262> <ei2263>continues</ei2263> to <ei2264>slow</ei2264>.
Anheuser, the world's largest brewer and U.S. market leader, has historically been <ei2265>reluctant</ei2265> to <ei2266>engage</ei2266> in <ei2267>price-cutting</ei2267> as a means of <ei2268>boosting</ei2268> sales volume. With the <ei2269>passing</ei2269> of the heady <t227>days</t227> of swelling industry sales, however, the once-sporadic and brief <ei2271>forays</ei2271> into <ei2272>discounting</ei2272> are <ei2273>becoming</ei2273> standard competitive weapons in the beer industry.
Over the <t246>summer</t246>, Anheuser competitors <ei2274>offered</ei2274> more and deeper <ei2275>discounts</ei2275> than industry observers have <ei2276>seen</ei2276> for a long time. Some experts <t261>now</t261> <ei2277>predict</ei2277> Anheuser's <ei2278>entry</ei2278> into the fray <ei2280>means</ei2280> near-term earnings <ei2281>trouble</ei2281> for all the industry players. |
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Some experts <t261>now</t261> <ei2277>predict</ei2277> Anheuser's <ei2278>entry</ei2278> into the fray <ei2280>means</ei2280> near-term earnings <ei2281>trouble</ei2281> for all the industry players.
The St. Louis company <ei2282>said</ei2282> major rivals, Philip Morris Co.'s Miller Brewing unit and Adolph Coors Co. "have been <ei2283>following</ei2283> a policy of continuous and deep <ei2284>discounting</ei2284> for <t283>at least the past 18 months</t283>" on their premium brands, <ei2285>pricing</ei2285> their product as much as 25 cents a 12-pack below Anheuser's Budweiser label in many markets. Anheuser <ei2286>said</ei2286> it's discounting policy basically would <ei2287>involve</ei2287> <ei2288>matching</ei2288> such <ei2289>moves</ei2289> by rivals on a market-by-market basis.
Anheuser-Busch <ei2290>announced</ei2290> its <ei2291>plan</ei2291> at the same time it <ei2292>reported</ei2292> <t321>third-quarter</t321> net income <ei2293>rose</ei2293> a lower-than-anticipated 5.2% to $238.3 million, or 83 cents a share, from $226.5 million, or 78 cents. Third-period sales were $2.49 billion, up from last year's $2.34 billion. |
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Third-period sales were $2.49 billion, up from last year's $2.34 billion.
Anheuser <ei2296>said</ei2296> its new strategy -- <ei2297>started</ei2297> in some markets <t354>last month</t354> and <ei2298>expected</ei2298> to be <ei2299>applied</ei2299> soon in selected markets nationwide -- will <ei2300>mean</ei2300> lower-than-anticipated earnings for <t371>the last half of 1989</t371> and for <t370>1990</t370>. The <ei2301>projection</ei2301> <ei2302>sent</ei2302> Anheuser shares <ei2303>plunging</ei2303> $4.375 in New York Stock Exchange composite trading <t394>yesterday</t394>. The stock <ei2304>closed</ei2304> at $38.50 on heavy volume of about 3.5 million shares. Shares of Coors, the company's sole publicly traded major competitor, <ei2305>fell</ei2305> $1.50 apiece to $19.125 in national over-the-counter trading, apparently on investor concerns over potential <ei2307>fallout</ei2307> from the coming pricing <ei2308>struggle</ei2308>. |
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Shares of Coors, the company's sole publicly traded major competitor, <ei2305>fell</ei2305> $1.50 apiece to $19.125 in national over-the-counter trading, apparently on investor concerns over potential <ei2307>fallout</ei2307> from the coming pricing <ei2308>struggle</ei2308>.
Anheuser <ei2309>noted</ei2309> that "beer industry sales volume is <t419>1989</t419> is <ei2311>following</ei2311> the trend that has <ei2313>characterized</ei2313> <t446>the last half of the '80s</t446>, with sales volume being essentially <ei2371>flat</ei2371>" while <ei2315>consolidation</ei2315> <ei2316>creates</ei2316> fewer, bigger players.
"We cannot <ei2318>permit</ei2318> a further <ei2319>slowing</ei2319> in our volume trend," Anheuser <ei2320>said</ei2320>, <ei2321>adding</ei2321> it will <ei2322>take</ei2322> "appropriate competitive pricing <ei2323>actions</ei2323> to <ei2324>support</ei2324> our long-term market share growth strategy" for the premium brands. Anheuser <ei2325>said</ei2325> it <ei2326>continues</ei2326> to <ei2327>hold</ei2327> to its <ei2328>earlier-announced</ei2328> goal of a 50% U.S. market share by <t2054>the mid-1990s</t2054>.
Beneath the tepid news-release jargon <ei2329>lies</ei2329> a powerful threat from the brewing giant, which last year <ei2330>accounted</ei2330> for about 41% of all U.S. beer sales and is <ei2331>expected</ei2331> to <ei2332>see</ei2332> that <ei2333>grow</ei2333> to 42.5% in <t2056>the current year</t2056>. |
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Beneath the tepid news-release jargon <ei2329>lies</ei2329> a powerful threat from the brewing giant, which last year <ei2330>accounted</ei2330> for about 41% of all U.S. beer sales and is <ei2331>expected</ei2331> to <ei2332>see</ei2332> that <ei2333>grow</ei2333> to 42.5% in <t2056>the current year</t2056>. "Anheuser is the biggest guy in the bar, and he just <ei2334>decided</ei2334> to <ei2335>join</ei2335> in the barroom <ei2336>brawl</ei2336>," <ei2337>said</ei2337> Joseph J. Doyle, an analyst with Smith Barney, Harris Upham amp Co. "It's going to <ei2338>get</ei2338> bloody."
Jerry Steinman, publisher of Beer Marketers Insights, a trade newsletter, <ei2339>said</ei2339> Anheuser's <ei2340>announcement</ei2340> <ei2341>means</ei2341> "everybody else in the industry is going to <ei2342>have</ei2342> a difficult time <ei2343>reaching</ei2343> their profit objectives."
Prudential-Bache Securities Inc. analyst George E. Thompson <ei2344>downplayed</ei2344> the importance of the <ei2345>announcement</ei2345>, and <ei2346>called</ei2346> any comparison between the coming beer-industry tiff and the seemingly unending "cola wars," unwarranted. Mr. Thompson <ei2347>calls</ei2347> discounting "a loser's game for anyone without a dominant market share," and <ei2348>projected</ei2348> that Anheuser's statement of intent could simply be a means of <ei2350>warning</ei2350> competitors to <ei2351>ease</ei2351> up on <ei2352>price-cutting</ei2352> or face a costly and fruitless <ei2353>battle</ei2353>. |
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Mr. Thompson <ei2347>calls</ei2347> discounting "a loser's game for anyone without a dominant market share," and <ei2348>projected</ei2348> that Anheuser's statement of intent could simply be a means of <ei2350>warning</ei2350> competitors to <ei2351>ease</ei2351> up on <ei2352>price-cutting</ei2352> or face a costly and fruitless <ei2353>battle</ei2353>.
Mr. Thompson <ei2354>noted</ei2354> that the disappointing earnings, which <ei2355>fell</ei2355> five cents a share short of his own <ei2356>projections</ei2356>, <ei2357>contributed</ei2357> to the sell-off by an edgy and currently unforgiving investing public.
But Smith Barney's Mr. Doyle, who <t2196>yesterday</t2196> <ei2358>trimmed</ei2358> his <t2201>1990</t2201> Anheuser earnings projection to $2.95 a share from $3.10, <ei2359>called</ei2359> the market's reaction "justified." While the <t2210>third-quarter</t2210> earnings were a "moderate disappointment," he <ei2361>said</ei2361>, "the real bad news is the <ei2372>intensity</ei2372> of price <ei2363>competition</ei2363>" in the premium-beer sector.
<ei2364>According</ei2364> to Mr. Steinman, the newsletter publisher, Anheuser's market share is nearly twice that of its nearest competitor, Miller Brewing, which <ei2366>had</ei2366> a 21.2% stake <t2238>last year</t2238>. |
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<ei2364>According</ei2364> to Mr. Steinman, the newsletter publisher, Anheuser's market share is nearly twice that of its nearest competitor, Miller Brewing, which <ei2366>had</ei2366> a 21.2% stake <t2238>last year</t2238>. It's <ei2367>followed</ei2367> by Stroh Brewery Co., which has <ei2368>agreed</ei2368> to <ei2369>sell</ei2369> its assets to Coors. Both Coors and Stroh have recently been <ei2370>ceding</ei2370> market share to Miller and Anheuser. |
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<ei388>Taking</ei388> the stand in her own defense, a friend of Yitzhak Rabin's assassin <ei389>said</ei389> <t70>Friday</t70> that she <ei390>regretted</ei390> <ei391>calling</ei391> the prime minister a traitor and <ei393>praying</ei393> for his <ei394>death</ei394>. Margalit Har-Shefi, 22, has <ei395>pleaded</ei395> innocent to <ei397>charges</ei397> that she <ei398>failed</ei398> to <ei399>report</ei399> Yigal Amir's <ei400>plan</ei400> to <ei401>kill</ei401> Rabin. She <ei402>took</ei402> the stand for <t71>more than four hours</t71> <t72>Friday</t72> in a Tel Aviv magistrate's court. Amir, 27, is <ei403>serving</ei403> a life sentence for the <t73>November 1995</t73> <ei404>assassination</ei404> of Rabin at a Tel Aviv peace <ei405>rally</ei405>. Newspaper reports have <ei406>said</ei406> Amir was <ei407>infatuated</ei407> with Har-Shefi and may have been <ei408>trying</ei408> to <ei409>impress</ei409> her by <ei410>killing</ei410> the prime minister. |
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Newspaper reports have <ei406>said</ei406> Amir was <ei407>infatuated</ei407> with Har-Shefi and may have been <ei408>trying</ei408> to <ei409>impress</ei409> her by <ei410>killing</ei410> the prime minister. Har-Shefi <ei411>acknowledged</ei411> she <ei412>told</ei412> police interrogators that Rabin was a <ei413>traitor</ei413> and that she <ei414>prayed</ei414> for him to have a heart attack and <ei416>die</ei416>. She <ei417>said</ei417> Rabin's <ei418>murder</ei418> was ``a black stain on Israel,'' Israel radio and Israel army radio <ei419>reported</ei419>. Har-Shefi <ei420>said</ei420> she <ei421>heard</ei421> Amir <ei422>talk</ei422> about <ei423>killing</ei423> Rabin but did not <ei424>tell</ei424> the police because she did not <ei425>believe</ei425> he was <ei426>serious</ei426>. Instead, she <ei427>turned</ei427> to her community rabbi in the Jewish West Bank settlement of Beit El and <ei428>told</ei428> him about Amir's statements. |
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Instead, she <ei427>turned</ei427> to her community rabbi in the Jewish West Bank settlement of Beit El and <ei428>told</ei428> him about Amir's statements. The rabbi <ei430>said</ei430> <ei431>called</ei431> the <ei432>talk</ei432> about <ei433>killing</ei433> Rabin ``nonsense,'' and <ei435>said</ei435> Jews are <ei436>prohibited</ei436> from killing one another, the radio reports <ei437>said</ei437>. Har-Shefi <ei438>described</ei438> Amir as an ``original thinker,'' as well as delusional and a liar. She also <ei439>denied</ei439> <ei440>accusations</ei440> <ei441>made</ei441> by Amir's brother, Hagai, that she <ei442>joined</ei442> an anti-Arab underground movement. She <ei443>said</ei443> she <ei444>gave</ei444> the Amir brothers false information regarding the location of a weapons and ammunition cache when they <ei445>asked</ei445> her to <ei446>help</ei446> <ei447>organize</ei447> such a movement. |
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Dow Jones amp Co. <ei357>extended</ei357> its tender <ei358>offer</ei358> of $18 a share, or about $576 million, for the 33% of Telerate Inc. that it doesn't already own until <t87>5 p.m. EST, Nov. 6</t87>.
The <ei360>offer</ei360>, which Telerate's two independent directors have <ei361>rejected</ei361> as inadequate, previously had been <ei362>scheduled</ei362> to <ei363>expire</ei363> at <t90>midnight Friday</t90>. Dow Jones <ei364>said</ei364> it <ei365>extended</ei365> the <ei366>offer</ei366> to <ei367>allow</ei367> shareholders time to <ei368>review</ei368> a supplement to the Dow Jones tender offer circular that it <ei369>mailed</ei369> <t91>last Friday</t91>.
The supplement contains various information that has been <ei370>filed</ei370> with the Securities and Exchange Commission since Dow Jones <ei371>launched</ei371> the <ei372>offer</ei372> on <t94>Sept. 26</t94>, but it doesn't <ei373>change</ei373> the terms and conditions of the <ei374>offer</ei374> except to <ei375>extend</ei375> its expiration date.
In Delaware Chancery Court litigation, Telerate has <ei376>criticized</ei376> Dow Jones for not <ei377>disclosing</ei377> that Telerate's management <ei378>expects</ei378> the company's revenue to <ei379>increase</ei379> by 20% annually, while Dow Jones <ei380>based</ei380> its projections of Telerate's performance on a 12% revenue growth forecast. |
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In Delaware Chancery Court litigation, Telerate has <ei376>criticized</ei376> Dow Jones for not <ei377>disclosing</ei377> that Telerate's management <ei378>expects</ei378> the company's revenue to <ei379>increase</ei379> by 20% annually, while Dow Jones <ei380>based</ei380> its projections of Telerate's performance on a 12% revenue growth forecast. In the tender offer supplement, Dow Jones <ei381>discloses</ei381> the different growth <ei382>forecasts</ei382> but <ei383>says</ei383> it <ei384>views</ei384> the 20% growth rate "as a hoped-for goal" of Telerate's management "and not as a realistic basis on which to project the company's likely future performance."
Telerate shares <ei386>fell</ei386> 50 cents on <t98>Friday</t98> to <ei387>close</ei387> at $20 each in New York Stock Exchange composite trading. Dow Jones shares also <ei389>fell</ei389> 50 cents to <ei390>close</ei390> at $36.125 in Big Board composite trading.
Dow Jones has <ei392>said</ei392> it <ei393>believes</ei393> the $18-a-share price is <ei394>fair</ei394> to Telerate's minority shareholders. |
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Dow Jones has <ei392>said</ei392> it <ei393>believes</ei393> the $18-a-share price is <ei394>fair</ei394> to Telerate's minority shareholders. <t102>Late last week</t102>, representatives of Dow Jones and Telerate <ei395>began</ei395> <ei396>negotiations</ei396> about the terms of the <ei397>offer</ei397>, but those <ei398>talks</ei398> didn't result in any <ei399>changes</ei399> in the offer.
Telerate provides information about financial markets through an electronic network. Dow Jones, which owns 67% of Telerate, publishes The Wall Street Journal, Barron's magazine, community newspapers and operates financial news services and computer data bases. |
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Live from Atalanta, good evening Lynne Russell, CNN headline news. New evidence is <ei1998>suggesting</ei1998> that a series of <ei1999>bombings</ei1999> in Atalanta and <t93>last month</t93>'s <ei2000>explosion</ei2000> at an Alabama women's clinic might be <ei2001>related</ei2001>. Pierre Thomas has the latest.
Atlanta <t95>nineteen ninety-six</t95>. A bomb blast <ei2003>shocks</ei2003> the Olympic games. |
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This time a <ei2005>bomb</ei2005> at an abortion clinic. More people are <ei2006>hurt</ei2006>. And just <t97>last month</t97>, an off duty policeman is <ei2007>killed</ei2007> when a bomb <ei2008>explodes</ei2008> at another abortion clinic. Location, Birmingham, Alabama.
This man, Eric Rudolph has already been <ei2009>charged</ei2009> in the Birmingham <ei2010>bombing</ei2010>. |
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This man, Eric Rudolph has already been <ei2009>charged</ei2009> in the Birmingham <ei2010>bombing</ei2010>. <t178>Now</t178> officials are <ei2011>investigating</ei2011> whether, Rudolph, who remains at large, is <ei2012>linked</ei2012> to all three <ei2013>attacks</ei2013>. The reason, authorities have <ei2014>discovered</ei2014> tantalizing new evidence.
Steel plates <ei2015>recovered</ei2015> at the Olympic park bombing <ei2016>appear</ei2016> to <ei2017>match</ei2017> those <ei2018>found</ei2018> at the abortion clinic <ei2019>bombing</ei2019> in Atlanta. Those plates may have <ei2020>come</ei2020> from a machine shop in north Carolina, where a friend of Rudolph <ei2021>worked</ei2021>. |