time out is as serious as a pink slip . 
(ROOT (S (NP (NN time) (RP out)) (VP (VBZ is) (ADJP (ADJP (RB as) (JJ serious)) (PP (IN as) (NP (DT a) (JJ pink) (NN slip))))) (. .)))
(ROOT (S (NP (NN ) (RP )) (VP (VBZ ) (ADJP (ADJP (RB ) (JJ )) (PP (IN ) (NP (DT ) (JJ ) (NN ))))) (. )))