text stringlengths 1 3.86k |
|---|
that figure has been <unk> up for several years |
as the trend continues demand for mass-market items that are high quality but only <unk> particularly <unk> products is expected to increase |
this fall for example <unk> group ordinarily a high-end line rolled out a <unk> line of <unk> products called <unk> which retail for $ N to $ N |
the packaged-goods marketers may try filling that gap with a spate of new products |
unlike the <unk> cosmetics houses unilever and p&g both have enormous research and development bases to draw on for new products |
p&g in fact is noted for gaining market leadership by introducing products that offer a technical edge over the competition |
sales of its tide detergent soared earlier this year for example after p&g introduced a version that includes a <unk> safe for all colors and <unk> |
that 's led industry executives to speculate that future product development will be driven more by technological innovation than by fashion <unk> especially among mass-market brands |
there will be more emphasis on quality says guy <unk> chief executive of <unk> inc. the u.s. <unk> of <unk> |
you 'll see fewer <unk> |
but success for unilever and p&g is far from guaranteed as shown by the many <unk> companies that have tried and failed to master the <unk> beauty business |
in the 1970s several pharmaceutical and packaged-goods companies including colgate-palmolive co. eli lilly & co. pfizer inc. and schering-plough acquired cosmetics companies |
industry consultants say only schering-plough which makes the mass-market <unk> has maintained a meaningful business |
colgate which acquired <unk> <unk> in N sold the brand seven years later after the brand <unk> |
unilever already has experienced some disappointment |
the mass-market <unk> brand which it acquired in N along with <unk> 's inc. has lost share according to industry analysts |
the <unk> world of department-store cosmetics retailing where unilever is concentrating its efforts may prove even more <unk> |
in this niche makeup colors change seasonally because they are linked to <unk> <unk> |
because brand loyalty is weak and most cosmetics purchases are <unk> careful training of store sales staffs by cosmetics companies is important |
and <unk> a luxury image strong enough to persuade consumers to pay more than $ N for <unk> or eye makeup requires a <unk> touch that packaged-goods companies have yet to demonstrate on their own |
there may be a truce in the long war of nerves between the white house and congress over how this country <unk> secret intelligence operations abroad |
after years of <unk> born of <unk> past <unk> of the central intelligence agency and the iran-contra scandal president bush and the senate intelligence committee appear ready for now at least to trust each other when it comes to setting policy on covert activities |
if that attitude lasts it could <unk> covert action planning with a level of care and confidence that has n't been seen in years |
over the past week the president has agreed to keep the committee informed usually in advance of covert actions and to put key intelligence decisions in writing |
that was n't always the way the reagan administration handled such matters |
mr. bush has pledged as well to respect the 14-year-old executive order barring u.s. agents from <unk> foreign leaders or helping others to do so |
congress never fully trusted former cia chief william <unk> and national security adviser john <unk> to honor the ban |
despite objections by the cia mr. bush also has agreed to the establishment of an inspector general at the cia who would be independent of the cia director |
in return the senate panel has dropped efforts to enact legislation requiring the administration to inform it within N hours of the launching of any covert activity |
it also has removed a ban on cia use of a <unk> fund for covert acts and has agreed to wipe away some <unk> and <unk> restrictions on coup planning put in place to ensure that the cia did n't get back in the assassination game |
we 've finally been able to convince them that <unk> and oliver north do n't work here anymore says one administration official |
the new understanding did n't just spring to life in a <unk> <unk> of <unk> and light |
it emerged after a <unk> display of <unk> intelligence politics that followed this month 's failed coup attempt in panama |
the white house used television appearances and leaks to argue that <unk> imposed restrictions on covert actions made u.s. support for such coups difficult |
mr. bush even disclosed privately that one <unk> deal with congress required him to notify the <unk> panamanian dictator manuel noriega if the u.s. learned of a coup plot that might endanger his life |
the president also hinted he might veto this year 's intelligence authorization bill if it is too restrictive |
intelligence committee chairman david boren d. <unk> and vice chairman william cohen r. maine for their part <unk> accused the white house of <unk> <unk> classified documents and trying unfairly to shift the blame to congress for the <unk> attempt to topple gen. noriega |
the white house got the better of the exchange but took care not to press its advantage to the kind of constitutional confrontation sought by conservative republicans who do n't want any congressional oversight of intelligence activities |
instead mr. bush and his aides made it clear they respected congress 's role and felt they could work with the conservative mr. boren and the moderate mr. cohen to iron out their differences |
the senators responded in kind |
sen. boren <unk> told reporters that there had been a meeting of the minds with the white house and that the committee had given mr. bush a clean slate free of the <unk> imposed during the reagan years |
sen. cohen said the relationship has <unk> to its <unk> character |
there still are some details to be <unk> down |
mr. bush is <unk> the right in rare <unk> to keep congress in the dark <unk> a constitutional <unk> the committee does n't recognize |
and a pending justice department interpretation of the assassination ban could raise questions that would have to be settled |
moreover both sides may face political critics |
some conservatives will accuse the president of promising congress too much |
and they continue <unk> attacking cia director william webster for being too <unk> to the committee |
at the same time some congressional liberals will accuse sens. boren and cohen of <unk> out and they will warn that the lawmakers ' concessions raise the specter of more internationally embarrassing covert operations like the mining of nicaraguan harbors and the iran arms sales |
but if the cooperative attitude holds and there is greater <unk> on covert activities the country could be entering an era when such <unk> schemes are scrapped before they get off the drawing boards while risky but <unk> secret operations can be undertaken without fear that a <unk> congress will <unk> |
several of the new york stock exchange 's own listed companies led by giant contel corp. are joining for the first time to complain about program trading and the exchange 's role in it |
claiming program trading has turned the big board into a gambling casino contel chairman charles wohlstetter said that he and at least N other corporate executives are forming an unprecedented alliance |
the group mr. wohlstetter said in an interview wants to end the market 's wild price swings that critics blame on <unk> program-trading strategies |
the group will complain to washington to the heads of program-trading firms and to the heads of the big board itself he said |
they should call the exchange trump east charged mr. wohlstetter the <unk> founder of contel who 's also a former investment banker and stock trader |
what is the mission of the financial community |
to help some <unk> or <unk> or help corporate america |
contel is a $ N billion telephone and electronics company |
pressure has been building on the big board in the past two weeks to do something about market volatility which many investors say is caused by program trading |
the market 's friday-the-13th plunge of N points in the dow jones industrial average and the big board 's <unk> response to it galvanized some longstanding <unk> among companies listed on the exchange |
last month program trading accounted for a record N N of average daily big board volume |
mr. wohlstetter for example said he wrote to big board chairman john j. phelan jr. about program trading after the 190-point dow plunge and as in previous <unk> what i get back is <unk> |
he said he 's upset that mr. phelan trying to calm investors after the plunge said that investors would simply have to get used to the market 's big price swings |
the big board is partly to blame for the price swings because they 're <unk> said mr. wohlstetter |
their powerful members manage them |
the focus of the outcry has been stock-index arbitrage which accounts for about half the program trading that goes on |
index arbitragers argue that their trading is healthy because it links markets but critics say such trading <unk> market movements and increases the chance for a crash |
the big board has refused to be drawn into a public debate about program trading |
richard <unk> big board president last week said only that the exchange is concerned about all its constituents |
privately exchange officials worry that without a <unk> system for program trading at the big board billions of dollars in trading will simply <unk> to overseas exchanges such as london 's |
it is partly for this reason that the exchange last week began trading in its own stock basket product that allows big investors to buy or sell all N stocks in the standard & poor 's index in a single trade |
one intended customer of the new basket product is index arbitragers according to the exchange |
investors have complained for some time about program trading particularly index arbitrage to little <unk> |
but according to some big board traders an organized campaign from <unk> companies might make the exchange finally consider big changes |
they wo n't fight the listed companies |
now the assault is on said one top trader |
the big board ca n't ban stock-index futures of course but it could ban use of its <unk> electronic trading system for program trading or at least encourage securities firms to back off |
the exchange put a bit of a <unk> on program trading when last year it simply started to publish monthly statistics of each firm 's program-trading volume |
contel 's mr. wohlstetter said the group of big board companies is n't ready to go public yet with its effort and that he does n't plan to be the leader once it is public |
however he said he planned to spend the weekend making calls to gather additional support |
among those mr. wohlstetter said he has been talking to are sanford <unk> of primerica corp. which is the parent of smith barney harris upham & co. gte corp. 's james johnson and itt corp. 's rand <unk> |
none of these chief executives were available for comment |
among the targets of the big board companies ' campaign will be some corporate pension funds that use program-trading strategies to maximize returns on their investments |
for contel 's part the company a month ago informed each of its money managers that it would drop them if they give business to program-trading firms |
it was just those kinds of <unk> that last week succeeded in turning up the heat in the debate |
kemper corp. 's kemper financial services unit said it cut off bear stearns morgan stanley oppenheimer and general electric co. 's kidder peabody & co. unit |
all of the firms except kidder which is the <unk> program trader on wall street quickly announced <unk> from index arbitrage |
kidder officials stand by their aggressive use of program trading |
chief executive officer michael carpenter said that despite the outcry even by some of kidder 's own brokers he believes index arbitrage does n't have a negative impact on the market as a whole |
however pressure on kidder 's parent ge could change kidder 's policy |
ge chairman john welch has been besieged with phone calls complaining about his unit 's program trading according to a person close to him |
margaret thatcher 's <unk> response to the latest upheaval in her government is to promise business as usual |
that may be the last thing she needs |
as the air clears from last week 's storm of resignations and <unk> the government faces a <unk> job of rebuilding confidence in its policies |
the prime minister and her new chancellor of the exchequer the <unk> john major need to haul the country through something like a recession to bring down inflation and set the economy moving again |
mrs. thatcher has to come to terms with european economic integration beginning with the european monetary system which britain is committed to joining fully someday |
finally the government has to convince a rattled financial community and voters it is proceeding <unk> toward its goals |
it sounds like the work of a decade but the deadline is late N when mrs. thatcher is expected to call another national election |
what 's worrying her supporters is that the economic cycle may be out of <unk> with the political timetable |
she could end up seeking a fourth term in an economy sick with inflation high interest rates and a heavy trade deficit |
Subsets and Splits
No community queries yet
The top public SQL queries from the community will appear here once available.