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a good measurement of the popularity of <unk> <unk> like <unk> is circulation |
when mr. korotich took it over in N it sold N copies today it sells N million |
pravda meanwhile has retained only N N of its N <unk> |
glasnost has made <unk> of men like mr. korotich |
prevented by the communist party from getting on its slate of <unk> for the new supreme soviet he stood as an independent candidate for congress from his native <unk> and won with N N of the vote |
the same evening that he was summoned for a warning from the party he was cheered by thousands of his supporters at a rally of what can only be called the korotich party |
but as <unk> as the changes that have already occurred are there is a <unk> to glasnost |
censorship is n't a marxist <unk> |
the <unk> were no civil <unk> |
as late as the <unk> the russian government prevented any coverage of <unk> |
it even directed newspapers not to publish anything that might <unk> the honor of the <unk> <unk> 's wives |
so glasnost is not a value <unk> with steel <unk> into the fabric of russian society |
it is an <unk> public relations program initiated by a single political leader during a four-year <unk> of history |
it is public relations of the highest <unk> that recognizes that credibility is enhanced by honesty up to a point |
what is that point |
will <unk> begin a series of reports analyzing the failures of perestroika |
i 'd be destroying myself replies mr. korotich who then asks what would that accomplish |
his answer reveals his <unk> it also draws the line that soviet society must cross to enter the normal dialogue of western culture |
it is the line beyond which the press can report not only on the bankruptcy of factories but on the failures of even <unk> leaders |
mr. <unk> is editor and publisher of the <unk> ala. star |
a state trial judge in illinois gave preliminary approval to a proposed settlement of a suit against a bank of new york co. unit irving trust co. over the interest rates on irving 's former one wall street account money-market deposit accounts |
judge albert green in cook county circuit court in chicago also recognized the suit filed last may by robert and cynthia <unk> as a class action covering thousands of irving customers |
the plaintiffs accused irving of paying less interest than promised in a marketing <unk> |
irving maintained and still does that its actions were proper under its account agreements with customers |
under the proposed settlement customers with valid claims to be submitted by dec. N will receive valuable bank services such as credit cards with reduced finance charges for two years |
larry <unk> attorney for the plaintiffs valued the settlement at between $ N million and $ N million |
a bank of new york spokesman in manhattan owen brady said that 's the maximum outside figure |
federal reserve critics used to complain of stop and go monetary policies |
they claimed that the fed would first give a green light to the economy by making credit readily available and then turn on the red and bring growth to a <unk> halt |
but under alan greenspan that has changed |
a <unk> cautious man the fed chairman is forever <unk> yellow |
indeed his caution has become legendary within the government |
he <unk> <unk> over economic statistics <unk> them in dozens of ways probing for hours in search of potential problems |
after <unk> <unk> <unk> of information he often concludes that more data are needed and when he finally decides to act his movements sometimes seem <unk> small |
such caution was evident after the recent friday-the-13th stock market plunge |
some bush administration officials urged mr. greenspan to make an immediate public announcement of his plans to provide ample credit to the markets |
but he refused claiming that he wanted to see what happened monday morning before making any public statement |
mr. greenspan 's decision to keep quiet also prompted a <unk> within the fed 's ranks |
a senior fed official spoke on saturday after the market <unk> to both the washington post and the new york times saying the fed was prepared to provide as much credit as the markets needed |
the statement angered chairman greenspan but it was greeted with applause by the bush administration and the financial markets |
and while the <unk> fed member has n't gone public some fed governors most notably vice chairman manuel johnson are known to have disagreed with the chairman 's decision to remain silent |
ironically the <unk> official 's comments have earned some <unk> for mr. greenspan who is mistakenly seen as the source |
at a hearing last week democratic sen. chris dodd of connecticut told treasury secretary nicholas brady that chairman greenspan 's announcement over the oct. N weekend was a very important statement |
mr. brady <unk> replied that he was n't sure whether mr. greenspan made a statement himself or whether that was a newspaper report |
the fed chairman 's caution was apparent again on the monday morning after the market 's plunge when the central bank took only modest steps to aid the markets |
a surprisingly small amount of reserves was added to the banking system |
and by the end of that week the key federal funds interest rate which is largely controlled by the fed had settled at N N barely changed from the level of just under N N that prevailed the previous week |
bush administration officials appear increasingly concerned that mr. greenspan is cautious to a fault |
signs of growing weakness in the economy <unk> with indications that inflation is staying well under control have caused them to wonder why the fed chairman is so <unk> in reducing rates |
those concerns are n't expressed in public |
in fact the administration and the fed have been going out of their way in the past two weeks to <unk> any impression that they are at odds <unk> stories about an <unk> split added to the stock market 's jitters |
still the split is there |
the administration 's concerns are <unk> |
the economy is showing signs of weakness particularly among manufacturers |
exports which played a key role in fueling growth over the last two years seem to have stalled |
factory <unk> and production fell in september and the auto industry and housing are in a severe crunch |
but mr. greenspan remains reluctant to loosen policy partly because he faces a <unk> of presidents of regional fed banks who oppose credit easing |
in addition the chairman has a wary eye aimed a year or two down the road |
inflation may be stable at the moment running at about N N |
but if the fed <unk> too soon mr. greenspan fears prices may begin to accelerate again next year |
moreover if the fed holds tight it may be able gradually to reduce inflation moving toward the <unk> goal that the fed chairman embraced in testimony to congress last week |
so far mr. greenspan 's cautious approach to policy has served both him and the nation well |
his hand on the monetary <unk> seems one reason why the economy next month seems highly likely to begin an unprecedented eighth year of <unk> growth without a recession |
we 've gotten through two stock market crashes and we 've gone through an election without any major problems says david <unk> an economist of kemper financial services |
i think you have to give greenspan a good rating |
but such caution is no guarantee against mistakes |
the fed 's reluctance to ease credit now could be laying the <unk> for a new recession perhaps starting early next year |
if that happens chairman greenspan could well become an open target |
already congress is <unk> with legislation to curb the fed 's independence |
if the economy turns down such proposals could gain strong momentum |
the following issues were recently filed with the securities and exchange commission |
<unk> environmental inc. initial offering of N million shares of which <unk> will sell N and <unk> will sell N shares via oppenheimer & co |
<unk> co. proposed offering of N common shares by holders via robert w. <unk> & co. and william blair & co |
first capital holdings corp. proposed offering of $ N million of floating rate senior notes via shearson lehman hutton inc |
industrial funding corp. initial offering of common stock via alex brown & sons inc. and <unk> <unk> & <unk> |
<unk> technology corp. initial offering of N million common shares of which N shares will be sold by the company and N shares by holders via alex brown & sons hambrecht & quist and <unk> arnold & henderson |
union camp corp. shelf offering of up to $ N million of debt securities |
spencer j. <unk> president and chief operating officer of this consumer and industrial products company was elected a director |
mr. <unk> N years old succeeds <unk> <unk> who retired in september |
in an age of <unk> the federal judiciary is one of the last <unk> of the <unk> |
a judge must jump from murder to antitrust cases from <unk> to securities fraud without missing a beat |
but even on the federal bench <unk> is creeping in and it has become a subject of sharp controversy on the newest federal appeals court |
the court of appeals for the federal circuit was created in N to serve among other things as the court of last resort for most patent disputes |
previously patent cases moved through the court system to one of the N circuit appeals courts |
there judges who saw few such cases and had no experience in the field <unk> with some of the most technical and complex disputes <unk> |
a new specialty court was sought by patent experts who believed that the <unk> had <unk> too many important multimillion-dollar cases |
some patent lawyers had hoped that such a specialty court would be filled with experts in the field |
but the reagan administration thought otherwise and so may the bush administration |
since N the president has filled four <unk> in the federal circuit court with <unk> lawyers |
now only three of the N judges <unk> <unk> chief judge howard t. markey N and <unk> rich N have <unk> backgrounds |
the latter two and judge daniel m. <unk> N are approaching senior status or retirement |
three seats currently are vacant and three others are likely to be filled within a few years so patent lawyers and <unk> industries are making a new push for specialists to be added to the court |
several organizations including the industrial <unk> association and the pharmaceutical manufacturers association have asked the white house and justice department to name candidates with both patent and scientific backgrounds |
the associations would like the court to include between three and six judges with specialized training |
some of the associations have recommended dr. alan d. <unk> N a former patent agent with a <unk> in organic chemistry who now is associate general counsel with <unk> <unk> corp. in philadelphia |
dr. <unk> says the justice department interviewed him last july |
their effort has received a <unk> response from the justice department |
we do not feel that seats are reserved for patent lawyers says justice spokesman david runkel who declines to say how soon a candidate will be named |
but we will take it into consideration |
the justice department 's view is shared by other lawyers and at least one member of the court judge h. robert mayer a former civil <unk> who served at the claims court trial level before he was appointed to the federal circuit two years ago |
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