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mr. bush has said he would like to be able to use this procedure |
a white house spokesman said last week that the president is considering declaring that the constitution <unk> gives him the authority for a line-item veto to <unk> a test case |
but the two legal experts responding to an inquiry by sen. edward kennedy d. mass. wrote in a joint letter that the president lacks the constitutional authority to exercise a line-item veto |
the two professors represent different ends of the political spectrum mr. <unk> is a conservative and mr. tribe is a liberal |
the two professors said the constitution <unk> the president to veto entire bills not partial measures |
moreover they said the first appropriations bill passed N years ago covered many different items and there was no discussion of a line-item veto |
they also said that more than a dozen presidents have called for line-item veto authority since the civil war and all have shared the view that such <unk> power is beyond the reach of the president |
sen. kennedy said in a separate statement that he supports legislation to give the president line-item veto power but that it would be a reckless course of action for president bush to claim the authority without congressional approval |
trinity industries inc. said it reached a preliminary agreement to sell N <unk> <unk> to <unk> train co. of chicago |
terms were n't disclosed |
trinity said it plans to begin delivery in the first quarter of next year |
in an oct. N review of the <unk> at chicago 's goodman theatre <unk> <unk> take the stage in <unk> city leisure & arts the role of <unk> played by kim <unk> was mistakenly attributed to <unk> <unk> |
ms. <unk> plays <unk> |
<unk> motor cars inc. said it expects its u.s. sales to remain steady at about N cars in N |
the luxury auto maker last year sold N cars in the u.s. |
howard <unk> president and chief executive officer said he anticipates growth for the luxury auto maker in britain and europe and in far eastern markets |
bell industries inc. increased its quarterly to N cents from seven cents a share |
the new rate will be payable feb. N |
a record date has n't been set |
bell based in los angeles makes and distributes electronic computer and building products |
investors are appealing to the securities and exchange commission not to limit their access to information about stock purchases and sales by corporate insiders |
a sec proposal to ease reporting requirements for some company executives would undermine the <unk> of information on insider trades as a <unk> tool individual investors and professional money managers contend |
they make the argument in letters to the agency about rule changes proposed this past summer that among other things would exempt many <unk> executives from reporting trades in their own companies ' shares |
the proposed changes also would allow executives to report exercises of options later and less often |
many of the letters maintain that investor confidence has been so shaken by the N stock market crash and the markets already so <unk> against the little guy that any decrease in information on insider-trading patterns might prompt individuals to get out of stocks altogether |
the sec has historically paid <unk> to the ideal of a level playing field wrote <unk> s. <unk> of <unk> ill. in one of the N letters the agency has received since the changes were proposed aug. N |
apparently the commission did not really believe in this ideal |
currently the rules force executives directors and other corporate insiders to report purchases and sales of their companies ' shares within about a month after the transaction |
but about N N of the insiders according to sec figures file their reports late |
the changes were proposed in an effort to streamline federal bureaucracy and boost compliance by the executives who are really calling the shots said brian lane special counsel at the sec 's office of disclosure policy which proposed the changes |
investors money managers and corporate officials had until today to comment on the proposals and the issue has produced more mail than almost any other issue in memory mr. lane said |
the sec will probably vote on the proposal early next year he said |
not all those who wrote oppose the changes |
the committee on federal regulation of securities for the american bar association argues for example in its lengthy letter to the sec that the proposed changes would substantially improve the law by <unk> it more closely to contemporary business realities |
what the investors who oppose the proposed changes object to most is the effect they say the proposal would have on their ability to spot <unk> <unk> of trading activity buying or selling by more than one officer or director within a short period of time |
according to some estimates the rule changes would cut insider filings by more than a third |
the sec 's mr. lane <unk> disputed those estimates |
the rules will eliminate filings <unk> divisions such as sales marketing finance and research and development mr. lane said |
the proposed rules also would be tougher on the insiders still required to file reports he said |
companies would be <unk> to publish in annual proxy statements the names of insiders who fail to file reports on time |
considered as a whole mr. lane said the filings required under the proposed rules will be at least as effective if not more so for investors following transactions |
but robert <unk> president of <unk> a north miami fla. company that packages and sells the insider-trading data said the proposal is <unk> so <unk> that key officials may fail to file the reports |
many investors wrote asking the sec to require insiders to report their purchases and sales immediately not a month later |
but mr. lane said that while the sec <unk> who files the law tells them when to do so |
investors who want to change the required timing should write their representatives in congress he added |
the sec would likely be <unk> to legislation that required insiders to file transactions on a more timely basis he said |
the nation 's largest pension fund which oversees $ N billion for college employees plans to offer two new investment options to its N million participants |
the teachers insurance and annuity <unk> retirement equities fund said it will introduce a stock and bond fund that will invest in <unk> responsible companies and a bond fund |
both funds are expected to begin operation around march N subject to securities and exchange commission approval |
for its employees to sign up for the options a college also must approve the plan |
some N institutions are part of the pension fund |
the new options carry out part of an agreement that the pension fund under pressure to relax its strict participation rules and to provide more investment options reached with the sec in december |
the new social choice fund will <unk> securities of companies linked to south africa nuclear power and in some cases northern ireland |
also excluded will be investments in companies with significant business stemming from weapons manufacture <unk> <unk> or tobacco |
<unk> percent of the fund will be invested in stocks with the rest going into bonds or short-term investments |
the bond fund will invest in high-grade or <unk> bonds mortgages or asset-backed securities including as much as N N in foreign securities |
the fund also might buy and sell futures and options contracts subject to approval by the new york state insurance department |
under two new features participants will be able to transfer money from the new funds to other investment funds or if their jobs are terminated receive cash from the funds |
the investment choices offered by the pension fund currently are limited to a stock fund an annuity and a money-market fund |
new <unk> scientific co. a maker of biotechnology instrumentation and equipment said it adopted an anti-takeover plan giving shareholders the right to purchase shares at half price under certain conditions |
the company said the plan under review for some time will protect shareholders against <unk> takeover tactics |
w. ed tyler N years old a senior vice president at this printing concern was elected president of its technology group a new position |
solo <unk> players have to be creative if they want to work a lot because their <unk> and audience appeal are limited |
the <unk> <unk> <unk> has taken a hard line about the problem he commissions and <unk> <unk> <unk> contemporary scores and does some conducting so he does n't have to play the same <unk> and <unk> <unk> over and over again |
richard stoltzman has taken a <unk> more <unk> approach |
years ago he <unk> with the new music <unk> peter <unk> and fred <unk> in the very <unk> chamber group <unk> which won audiences over to <unk> contemporary scores like <unk> 's <unk> for the end of time |
today the <unk> <unk> has mostly dropped the <unk> work though a touch of the old <unk> still <unk> and now goes on the road with piano bass a slide show and a <unk> that ranges from light classical to light jazz to light pop with a few notable exceptions |
just the thing for the <unk> set the <unk> audience that has embraced new age as its very own easy listening |
but you ca n't dismiss mr. stoltzman 's music or his <unk> as merely commercial and <unk> |
he believes in what he plays and he plays <unk> |
his recent appearance at the metropolitan museum dubbed a musical <unk> was a case in point |
it felt more like a party or a highly <unk> <unk> session with a few friends than a classical concert |
<unk> in his trademark black <unk> suit the <unk> <unk> announced that his new <unk> inner voices had just been released that his family was in the front row and that it was his mother 's birthday so he was going to play her favorite tune from the record |
he launched into <unk> 's the <unk> from carnival of the animals a favorite <unk> piece for <unk> with lovely glossy tone and no <unk> |
then as if to show that he could play fast as well he offered the second movement from <unk> 's <unk> for <unk> a <unk> <unk> <unk> that reflected the <unk> side of the stoltzman <unk> |
and so it went through the first half an <unk> chosen <unk> of pieces none longer than five minutes none that would <unk> or challenge a <unk> |
mr. stoltzman introduced his colleagues bill douglas <unk> and an old buddy from yale and jazz <unk> eddie <unk> |
an <unk> section was built around pieces by mr. douglas beginning with golden rain a <unk> <unk> lead in to the <unk> sky which gave mr. stoltzman the opportunity to <unk> in a high register and show off his fleet fingers |
<unk> 's air followed |
mr. stoltzman tied the <unk> in by <unk> him the great <unk> of the <unk> century and then built on the image by joining with mr. douglas in some <unk> two-part <unk> <unk> arranged for <unk> and <unk> by mr. douglas |
keeping the mood light the two then <unk> and <unk> their way through some <unk> <unk> devised by mr. douglas as an alternative to <unk> 's dry <unk> techniques and then with mr. <unk> soared and <unk> on the <unk> 's tight <unk> <unk> |
the end of the first half however brought what the <unk> crowd seemed to be waiting for the pop singer <unk> collins who appears on inner voices |
glamorous and <unk> as ever ms. collins sang <unk> mitchell 's for free about an <unk> with a <unk> <unk> to which mr. stoltzman contributed a <unk> <unk> and mr. douglas 's <unk> setting of a <unk> blessing deep peace |
deep peace also featured a slide show of lovely but predictable images of clouds <unk> <unk> <unk> etc |
it was all too <unk> to be believed but they probably would have gotten away with it had they not felt <unk> to add ms. collins 's signature tune amazing grace and ask for audience participation |
that went over the permissible line for warm and <unk> feelings |
was this why some of the audience <unk> before or during the second half |
or was it because ms. collins had gone |
either way it was a <unk> because mr. <unk> offered the most substantial music of the evening just after <unk> steve reich 's new york <unk> one of a series of reich works that <unk> a live performer with recorded tracks of his or her own playing |
mr. reich 's new different trains for string <unk> uses the technique <unk> |
mr. stoltzman must have worried that his audience might not be able to take it he warned us in advance that new york <unk> lasts N N minutes |
he also unfortunately illustrated this <unk> <unk> <unk> with mr. <unk> 's images this time of <unk> or <unk> <unk> in a <unk> <unk> of the musical structure that was <unk> <unk> from mr. reich 's piece and mr. stoltzman 's elegant execution of it |
the rest of the concert was more straight jazz and <unk> sounds written by charlie parker <unk> coleman bill douglas and eddie <unk> with pictures for the douglas pieces |
it was <unk> to hear accomplished jazz without having to sit in a <unk> club but like the first half much of it was easy to take and ultimately <unk> |
is this the future of chamber music |
managers and <unk> insist that chamber music <unk> are a hard sell but can audiences really enjoy them only if the music is <unk> of threatening elements served up in <unk> <unk> and accompanied by <unk> |
what 's next |
<unk> to illustrate <unk> <unk> |
it was not an <unk> evening certainly thanks to the high level of performance the <unk> <unk> of mr. douglas and the obvious <unk> with which mr. stoltzman chooses his <unk> |
but it was neither deep nor lasting light entertainment that was no substitute for an evening of <unk> |
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