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in coming years mr. cathcart says kidder is <unk> <unk> <unk> |
or as mr. carpenter again drawing on his <unk> background puts it we 're ready to implement at this point |
under a proposal by democrats to expand individual retirement accounts a $ N contribution by a taxpayer in the N N <unk> would save $ N on his taxes |
the savings was given incorrectly in friday 's edition |
in what could prove a major addition to the philippines ' <unk> portfolio a taiwanese company signed a $ N million construction contract to build the centerpiece of a planned petrochemical complex |
taiwan 's <unk> far east corp. a petrochemical company <unk> the agreement with an unidentified japanese contractor to build a <unk> <unk> according to <unk> lee who heads the philippine company set up to build and operate the complex |
mr. lee president of luzon petrochemical corp. said the contract was signed wednesday in tokyo with <unk> far east officials |
contract details however have n't been made public |
the complex is to be located in <unk> about N miles south of manila |
<unk> far east will hold a N N stake in luzon petrochemical according to papers signed with the philippine government 's board of investments |
the proposed petrochemical plant would use <unk> to manufacture the petrochemicals <unk> and <unk> and their <unk> <unk> <unk> and polyethylene |
these are the raw materials used in making plastics |
the contract signing represented a major step in the <unk> petrochemical project |
at an estimated $ N million the project would represent the single largest foreign investment in the philippines since president <unk> aquino took office in february N |
it also is considered critical to the country 's efforts to both attract other investment from taiwan and raise heavy industry <unk> |
the project has been in and out of the pipeline for more than a decade |
however workers ca n't break ground until legal <unk> to block the complex are resolved moves which caused the signing to remain questionable up to the last moment |
as previously reported a member of the philippines ' house of representatives has sued to stop the plant |
the legislator <unk> garcia had actively backed the plant but at the original site in his constituency northwest of manila |
the country 's supreme court dismissed the suit but mr. garcia late last month filed for a <unk> |
in addition president aquino has yet to sign into law a bill removing a stiff N N tax on <unk> the principal raw material to be used in the <unk> |
however at a news conference thursday mrs. aquino backed the project and said her government was attempting to <unk> the feelings of residents at the original site adjacent to the government 's major petroleum refinery in <unk> province |
we have tried our best to tell the people in <unk> that maybe this time it will not go to them but certainly we will do our best to encourage other investors to go to their province mrs. aquino told <unk> foreign <unk> |
the project appeared to be on the rocks earlier this month when the other major partner in the project china general plastics corp. backed out |
china general plastics another taiwanese petrochemical manufacturer was to have a N N stake in luzon petrochemical |
however mr. lee said that <unk> far east is confident other investors will take up the slack |
he said <unk> far east has applied to both the asian development bank and the world bank 's international finance corp. for financing that could include equity stakes |
three new issues begin trading on the new york stock exchange today and one began trading on the <unk> market system last week |
on the big board <unk> & co. atlanta <unk> begins trading today |
<unk> <unk> health care plans manages medical and <unk> aspects of worker 's compensation injuries and is involved in claims adjustments for insurance companies |
also beginning trading today on the big board are el paso refinery limited partnership el paso texas <unk> and franklin <unk> trust san mateo calif. <unk> |
el paso owns and operates a petroleum refinery |
franklin is a closed-end management investment company |
on the nasdaq over-the-counter system allied capital corp. washington d.c. <unk> began trading last thursday |
allied capital is a closed-end management investment company that will operate as a business development concern |
the yale political union does n't pay an <unk> to <unk> |
in thursday 's edition it was incorrectly indicated that the union had paid a fee to former house speaker jim wright |
president bush insists it would be a great tool for curbing the budget deficit and <unk> the <unk> out of government programs |
he wants it now |
not so fast says rep. <unk> edwards of oklahoma a fellow republican |
i consider it one of the <unk> ideas of the 20th century he says |
it 's the line-item veto a procedure that would allow the president to kill individual items in a big spending bill passed by congress without <unk> the entire bill |
whatever one thinks of the idea it 's far more than the budgetary <unk> it may seem at first <unk> |
rather it 's a device that could send shock waves through the president 's entire relationship with democrats and republicans alike in congress fundamentally enhance the power of the presidency and transform the way the government does its business |
president bush badly wants a line-item veto and has long called for a law giving it to the president |
now the white house is declaring that he might not rely on congress which has n't shown any willingness to surrender such authority to pass the line-item veto law he seeks |
white house spokesmen last week said mr. bush is considering simply declaring that the constitution gives him the power exercising a line-item veto and inviting a court challenge to decide whether he has the right |
although that may sound like an <unk> maneuver of little interest outside washington it would set off a political earthquake |
the <unk> are enormous says rep. don edwards a california democrat who is a senior member of the house judiciary committee |
it 's a real face-to-face arm <unk> challenge to congress |
white house aides know it 's a step that ca n't be taken <unk> and for that reason the president may back down from launching a test case this year |
some senior advisers argue that with further fights over a capital-gains tax cut and a <unk> bill looming mr. bush already has enough pending <unk> with congress |
they prefer to put off the line-item veto until at least next year |
still mr. bush and some other aides are strongly drawn to the idea of trying out a line-item veto |
the issue arose last week when vice president dan quayle told an audience in chicago that mr. bush was looking for a test case |
white house press secretary marlin fitzwater confirmed that mr. bush was interested in the idea but cautioned that there was n't a firm decision to try it |
mr. bush former president reagan and a host of conservative activists have been arguing that a line-item veto would go a long way in restoring discipline to the budget process |
they maintain that a president needs the ability to <unk> remove pork-barrel spending projects that are attached to big omnibus spending bills |
those bills ca n't easily be vetoed in their <unk> because they often are needed to keep the government operating |
conservatives note that N governors have the line-item veto to use on state budgets |
more <unk> some conservative legal <unk> have begun arguing that mr. bush does n't need to wait for a law giving him the veto because the power already is implicit in the constitution |
they base their argument on a clause buried in article i section N of the constitution that states every order resolution or vote to which the <unk> of the senate and house of representatives may be necessary except on a question of <unk> shall be presented to the president of the united states and before the same sha... |
this clause they argue is designed to go beyond an earlier clause <unk> that the president can veto a bill and is broad enough to allow him to strike out items and riders within bills |
senate minority leader robert dole r. kan. for one <unk> this argument and earlier this year publicly urged mr. bush to use the line-item veto and allow the courts to decide whether or not it is constitutional |
there 's little doubt that such a move would be immediately challenged in court and that it would quickly make its way to the supreme court to be ultimately resolved |
it 's a major issue and they would n't want to leave it at a lower level says stephen <unk> a new york attorney whose <unk> have been instrumental in pushing the idea that a president already has a line-item veto |
rep. edwards the california democrat is one who <unk> that he would immediately challenge mr. bush in the courts arguing a line-item veto would expand a president 's powers far beyond anything the <unk> of the constitution had in mind |
it puts this president in the legislative business he declares |
that 's not what our <unk> had in mind |
in addition to giving a president powers to rewrite spending bills meant to be written in congress rep. edwards argues a line-item veto would allow the chief executive to <unk> lawmakers |
he notes that as a <unk> from the san francisco area he fights each year to preserve federal funds for the bay area rapid transit system |
if a president had a line-item veto and wanted to force him to support a controversial <unk> initiative rep. edwards says the president could call and declare that he would <unk> kill the bart funds unless the congressman <unk> up on the <unk> issue |
proponents maintain that a president would choose to use a line-item veto more <unk> than that |
but there may be another problem with the device despite all the political <unk> it would cause it might n't be effective in cutting the deficit |
big chunks of the government budget like the <unk> programs of social security and medicare would n't be affected |
governors have found that they have to use the device <unk> to maintain political <unk> |
and it is n't even clear that some pork-barrel projects can be hit with a line-item veto because they tend to be listed in informal conference reports accompanying spending bills rather than in the official bills themselves |
still proponents contend that the veto would have what mr. <unk> calls an important <unk> effect on all manner of appropriations bills |
lawmakers they say would avoid putting many spending projects into legislation in the first place for fear of the embarrassment of having them singled out for a line-item veto later |
whatever the outcome of a test case president bush would have to move cautiously <unk> the very attempt would <unk> not just democrats but republicans says louis fisher a scholar at the congressional research service who specializes in <unk> relations |
republicans have as much interest as democrats in the way the system works he notes |
indeed although a majority of republican lawmakers favor a line-item veto some ranging from liberal oregon sen. mark <unk> to conservative rep. edwards are opposed |
rep. edwards voices the traditional conservative view that it 's a mistake to put too much power in the hands of a single person |
conservatives pushing for a line-item veto now he notes may regret it later sometime you 're going to have a democratic president again who 'll use his expanded powers against those very same conservatives |
every order resolution or vote to which the <unk> of the senate and house of representatives may be necessary except on a question of <unk> shall be presented to the president of the united states and before the same shall take effect shall be approved by him or being <unk> by him shall be <unk> by two-thirds of the s... |
this has n't been kellogg co. 's year |
the <unk> craze has cost the world 's largest cereal maker market share |
the company 's president quit suddenly |
and now kellogg is indefinitely <unk> work on what was to be a $ N billion cereal plant |
the company said it was delaying construction because of current market conditions |
but the memphis tenn. facility was n't to begin turning out product until N so the decision may reveal a more pessimistic long-term outlook as well |
kellogg which has n't been as successful in <unk> on the public 's <unk> desire for oat bran as rival general mills inc. has been losing share in the $ N billion <unk> cereal market |
kellogg 's current share is believed to be slightly under N N while general mills ' share is about N N |
led by its <unk> <unk> line general mills has gained an estimated N N share so far this year mostly at the expense of kellogg |
each share point is worth about $ N million in sales |
analysts say much of kellogg 's erosion has been in such core brands as corn <unk> rice <unk> and <unk> <unk> which represent nearly one-third of its sales volume |
kellogg is so anxious to turn around corn <unk> sales that it soon will begin selling boxes for as little as N cents trade sources say |
<unk> and <unk> <unk> <unk> have <unk> away sales normally going to kellogg 's <unk> lines simply because they are made of <unk> says merrill lynch food analyst william <unk> |
they are not a happy group of people at battle creek right now |
kellogg is based in battle creek mich. a city that calls itself the breakfast capital of the world |
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