pipe dream does have its charms . 
(ROOT (S (NP (NN pipe) (NN dream)) (VP (VBZ does) (VP (VB have) (NP (PRP$ its) (NNS charms)))) (. .)))
(ROOT (S (NP (NN ) (NN )) (VP (VBZ ) (VP (VB ) (NP (PRP$ ) (NNS )))) (. )))