Input: The following were among Friday's offerings and pricings in the U.S. and non-U.S. capital markets, with terms and syndicate manager, as compiled by Dow Jones Capital Markets Report:

Friday

U.S.

non-U.S.

Dow Jones Capital Markets Report


Input: Dow Chemical Co. --

Dow Chemical Co. --


Input: $150 million of 8.55% senior notes due Oct. 15, 2009, priced at par.

$150 million

Oct. 15, 2009


Input: The issue, which is puttable back to the company at par on Oct. 15, 1999, was priced at a spread of 50 basis points above the Treasury's 10 - year note.

Oct. 15, 1999

10 - year

Treasury


Input: Rated single - A - 1 by Moody's Investors Service Inc. and single - A by Standard & Poor's Corp., the non-callable issue will be sold through underwriters led by Merrill Lynch Capital Markets.

Moody's Investors Service Inc.

Standard & Poor's Corp.

Merrill Lynch Capital Markets


Input: Centel Capital Corp. --

Centel Capital Corp. --


Input: $150 million of 9% debentures due Oct. 15, 2019, priced at 99.943 to yield 9.008%.

$150 million

Oct. 15, 2019


Input: The non-callable issue, which can be put back to the company in 1999, was priced at 99 basis points above the Treasury's 10 - year note.

10 - year

Treasury


Input: Rated Baa - 1 by Moody's and triple - B - plus by S&P, the issue will be sold through underwriters led by Morgan Stanley & Co.

Moody's

S&P

Morgan Stanley & Co


Input: Federal Home Loan Mortgage Corp. --

Federal Home Loan Mortgage Corp. --


Input: $500 million of Remic mortgage securities offered in 13 classes by Prudential - Bache Securities Inc.

$500 million

Prudential - Bache Securities Inc


Input: The offering, Series 102, backed by Freddie Mac 8 1/2% securities with a weighted average remaining term to maturity of 28.4 years, was priced before the market's afternoon surge.

Freddie Mac

8 1/2%

28.4 years

afternoon


Input: Among classes for which details were available, yields ranged from 8.78%, or 75 basis points over two - year Treasury securities, to 10.05%, or 200 basis points over 10 - year Treasurys.

two - year

10 - year

Treasury

Treasurys


Input: Federal Home Loan Mortgage Corp. --

Federal Home Loan Mortgage Corp. --


Input: $300 million of Remic mortgage securities offered by Citicorp Securities Markets Inc.

$300 million

Citicorp Securities Markets Inc


Input: The offering, Series 101, is backed by Freddie Mac 9 1/2% securities.

Freddie Mac

9 1/2%


Input: Pricing details weren't immediately available.


Input: Federal Home Loan Mortgage Corp. --

Federal Home Loan Mortgage Corp. --


Input: $200 million of stripped mortgage securities underwritten by BT Securities Corp.

$200 million

BT Securities Corp


Input: The agency's first strips issue, collateralized by Freddie Mac 8% securities pooled into a single security called a Giant, will be divided into interest - only and principal - only securities.

first

Freddie Mac

Giant


Input: The collateral is being sold by a thrift institution.


Input: The principal - only securities will be repackaged by BT Securities into a Freddie Mac Remic, Series 103, that will have six classes.

BT Securities

Freddie Mac

six


Input: The interest - only securities will be sold separately by BT Securities.

BT Securities


Input: The principal - only securities pay the principal from the underlying Freddie Mac 8% securities, while the interest - only securities pay only interest.

Freddie Mac


Input: Freddie Mac said the principal - only securities were priced at 58 1/4 to yield 8.45%, assuming an average life of eight years and a prepayment of 160% of the PSA model.

Freddie Mac

PSA

58 1/4

eight years


Input: The interest - only securities were priced at 35 1/2 to yield 10.72%.

35 1/2


Input: There were no major Eurobond or foreign bond offerings in Europe Friday.

Europe

Friday


Input: Measuring cups may soon be replaced by tablespoons in the laundry room.


Input: Procter & Gamble Co. plans to begin testing next month a superconcentrated detergent that will require only a few spoonfuls per washload.

Procter & Gamble Co.

next month

only a few spoonfuls


Input: The move stems from lessons learned in Japan where local competitors have had phenomenal success with concentrated soapsuds.

Japan


Input: It also marks P&G's growing concern that its Japanese rivals, such as Kao Corp., may bring their superconcentrates to the U.S..

P&G

Kao Corp.

Japanese

U.S.


Input: The Cincinnati consumer - products giant got clobbered two years ago in Japan when Kao introduced a powerful detergent, called Attack, which quickly won a 30% stake in the Japanese markets.

Cincinnati

Japan

two years ago

Kao

Attack

Japanese


Input: `` They don't want to get caught again,'' says one industry watcher.

one


Input: Retailers in Phoenix, Ariz., say P&G's new powdered detergent -- to be called Cheer with Color Guard -- will be on shelves in that market by early November.

Phoenix

Ariz.

P&G

Cheer with Color Guard

early November


Input: A P&G spokeswoman confirmed that shipments to Phoenix started late last month.

P&G

Phoenix

late last month


Input: She said the company will study results from this market before expanding to others.


Input: Superconcentrates aren't entirely new for P&G.

P&G


Input: The company introduced a superconcentrated Lemon Cheer in Japan after watching the success of Attack.

Lemon Cheer

Attack

Japan


Input: When Attack hit the shelves in 1987, P&G's share of the Japanese market fell to about 8% from more than 20%.

Attack

P&G

Japanese

about 8%

more than 20%


Input: With the help of Lemon Cheer, P&G's share is now estimated to be 12%.

Lemon Cheer

P&G


Input: While the Japanese have embraced the compact packaging and convenience of concentrated products, the true test for P&G will be in the $4 billion U.S. detergent market, where growth is slow and liquids have gained prominence over powders.

Japanese

P&G

$4 billion

U.S.


Input: The company may have chosen to market the product under the Cheer name since it's already expanded its best - selling Tide into 16 different varieties, including this year's big hit, Tide with Bleach.

Cheer

Tide

Tide with Bleach

year


Input: With superconcentrates, however, it isn't always easy to persuade consumers that less is more; many people tend to dump too much detergent into the washing machine, believing that it takes a cup of powder to really clean the laundry.

a cup


Input: In the early 1980s, P&G tried to launch here a concentrated detergent under the Ariel brand name that it markets in Europe.

the early 1980s

P&G

Ariel

Europe


Input: But the product, which wasn't as concentrated as the new Cheer, bombed in a market test in Denver and was dropped.

Cheer

Denver


Input: P&G and others also have tried repeatedly to hook consumers on detergent and fabric softener combinations in pouches, but they haven't sold well, despite the convenience.

P&G


Input: But P&G contends the new Cheer is a unique formula that also offers an ingredient that prevents colors from fading.

P&G

Cheer


Input: And retailers are expected to embrace the product, in part because it will take up less shelf space.


Input: `` When shelf space was cheap, bigger was better,'' says Hugh Zurkuhlen, an analyst at Salomon Bros.

Hugh Zurkuhlen

Salomon Bros


Input: But with so many brands vying for space, that's no longer the case.


Input: If the new Cheer sells well, the trend toward smaller packaging is likely to accelerate as competitors follow with their own superconcentrates.

Cheer


Input: Then retailers `` will probably push the -LCB- less - established -RCB- brands out altogether,'' he says.


Input: Competition is bound to get tougher if Kao introduces a product like Attack in the U.S..

Kao

Attack

U.S.


Input: To be sure, Kao wouldn't have an easy time taking U.S. market share away from the mighty P&G, which has about 23% of the market.

Kao

P&G

U.S.

about 23%


Input: Kao officials previously have said they are interested in selling detergents in the U.S., but so far the company has focused on acquisitions, such as last year's purchase of Andrew Jergens Co., a Cincinnati hand - lotion maker.

Kao

Andrew Jergens Co.

U.S.

Cincinnati

last year's


Input: It also has a product - testing facility in California.

California


Input: Some believe P&G's interest in a superconcentrated detergent goes beyond the concern for the Japanese.

P&G

Japanese


Input: `` This is something P&G would do with or without Kao,'' says Mr. Zurkuhlen.

P&G

Kao

Zurkuhlen


Input: With economic tension between the U.S. and Japan worsening, many Japanese had feared last week's visit from U.S. Trade Representative Carla Hills.

U.S.

Japan

U.S.

Japanese

last week's

Carla Hills


Input: They expected a new barrage of demands that Japan do something quickly to reduce its trade surplus with the U.S..

Japan

U.S.


Input: Instead, they got a discussion of the need for the U.S. and Japan to work together and of the importance of the long - term view.

U.S.

Japan


Input: Mrs. Hills' first trip to Japan as America's chief trade negotiator had a completely different tone from last month's visit by Commerce Secretary Robert A. Mosbacher.

Hills

Robert A. Mosbacher

first

Japan

America

last month's

Commerce


Input: Mr. Mosbacher called for concrete results by next spring in negotiations over fundamental Japanese business practices that supposedly inhibit free trade.

Mosbacher

next spring

Japanese


Input: He said such results should be `` measurable in dollars and cents'' in reducing the U.S. trade deficit with Japan.

U.S.

Japan


Input: But Mrs. Hills, speaking at a breakfast meeting of the American Chamber of Commerce in Japan on Saturday, stressed that the objective `` is not to get definitive action by spring or summer, it is rather to have a blueprint for action.''

Hills

the American Chamber of Commerce

Japan

Saturday

spring

summer


Input: She added that she expected `` perhaps to have a down payment ... some small step to convince the American people and the Japanese people that we're moving in earnest.''

American

Japanese


Input: How such remarks translate into policy won't become clear for months.

months


Input: American and Japanese officials offered several theories for the difference in approach betwen Mr. Mosbacher and Mrs. Hills.

American

Japanese

Mosbacher

Hills


Input: Many called it simply a contrast in styles.


Input: But some saw it as a classic negotiating tactic.


Input: Others said the Bush administration may feel the rhetoric on both sides is getting out of hand.

Bush


Input: And some said it reflected the growing debate in Washington over pursuing free trade with Japan versus some kind of managed trade.

Washington

Japan


Input: Asked to compare her visit to Mr. Mosbacher's, Mrs. Hills replied: `` I didn't hear every word he spoke, but as a general proposition, I think we have a very consistent trade strategy in the Bush administration.''

Mosbacher

Hills

Bush


Input: Yet more than one American official who sat in with her during three days of talks with Japanese officials said her tone often was surprisingly `` conciliatory.''

more than one

American

Japanese

three days


Input: `` I think my line has been very consistent,'' Mrs. Hills said at a news conference Saturday afternoon.

Hills

Saturday

afternoon


Input: `` I am painted sometimes as ferocious, perhaps because I have a ferocious list of statutes to implement.


Input: I don't feel very ferocious.


Input: I don't feel either hard or soft.


Input: I feel committed to the program of opening markets and expanding trade.''


Input: When she met the local press for the first time on Friday, Mrs. Hills firmly reiterated the need for progress in removing barriers to trade in forest products, satellites and supercomputers, three areas targeted under the Super 301 provision of the 1988 trade bill.

first

Friday

Hills

three

Super 301


Input: She highlighted exclusionary business practices that the U.S. government has identified.

U.S.


Input: But her main thrust was to promote the importance of world - wide free trade and open competition.


Input: She said the trade imbalance was mainly due to macroeconomic factors and shouldn't be tackled by setting quantitative targets.


Input: At her news conference for Japanese reporters, one economics journalist summed up the Japanese sense of relief.

Japanese

Japanese

one


Input: `` My impression was that you would be a scary old lady,'' he said, drawing a few nervous chuckles from his colleagues.


Input: `` But I am relieved to see that you are beautiful and gentle and intelligent and a person of integrity.''


Input: Mrs. Hills' remarks did raise questions, at least among some U.S. officials, about what exactly her stance is on U.S. access to the Japanese semiconductor market.

Hills

U.S.

U.S.

Japanese


Input: The U.S. share of the Japanese market has been stuck around 10% for years.

U.S.

Japanese

years


Input: Many Americans have interpreted a 1986 agreement as assuring U.S. companies a 20% share by 1991, but the Japanese have denied making any such promise.

Americans

Japanese

U.S.


Input: At one of her news conferences, Mrs. Hills said, `` I believe we can do much better than 20%.''

one

Hills


Input: But she stressed, `` I am against managed trade.


Input: I will not enter into an agreement that stipulates to a percentage of the market.


Input: Information International Inc. said it was sued by a buyer of its computerized newspaper - publishing system, alleging that the company failed to correct deficiencies in the system.

Information International Inc.


Input: A spokesman for Information International said the lawsuit by two units of Morris Communications Corp. seeks restitution of the system's about $3 million purchase price and cancellation of a software license provided by the Morris units to Information International for alleged failure to pay royalties.

Information International

Morris Communications Corp.

Morris

Information International

two

about $3 million


Input: Information International said it believes that the complaints, filed in federal court in Georgia, are without merit.

Information International

Georgia


Input: Closely held Morris Communications is based in Augusta, Ga.

Morris Communications

Augusta

Ga


Input: The units that filed the suit are Southeastern Newspapers Corp. and Florida Publishing Co.

Southeastern Newspapers Corp.

Florida Publishing Co


Input: Syms Corp. completed the sale of its A. Sulka & Co. subsidiary, a men's luxury haberdashery, to Luxco Investments.

Syms Corp.

A. Sulka & Co.

Luxco Investments


Input: Terms weren't disclosed.


Input: As Syms's `` core business of off - price retailing grows, a small subsidiary that is operationally unrelated becomes a difficult distraction,'' said Marcy Syms, president of the parent, in a statement.

Syms

Marcy Syms


Input: A spokeswoman said Sulka operates a total of seven stores in the U.S. and overseas.

Sulka

seven

U.S.


Input: Syms operates 25 off - price apparel stores in the U.S..

Syms

U.S.


Input: The oil industry's middling profits could persist through the rest of the year.

the year


Input: Major oil companies in the next few days are expected to report much less robust earnings than they did for the third quarter a year ago, largely reflecting deteriorating chemical prices and gasoline profitability.

the next few days

the third quarter a year ago


Input: The gasoline picture may improve this quarter, but chemicals are likely to remain weak, industry executives and analysts say, reducing chances that profits could equal their year - earlier performance.

this quarter

year - earlier


Input: The industry is `` seeing a softening somewhat in volume and certainly in price in petrochemicals,'' Glenn Cox, president of Phillips Petroleum Co., said in an interview.

Glenn Cox

Phillips Petroleum Co.


Input: `` That change will obviously impact third and fourth quarter earnings'' for the industry in general, he added.

third and fourth quarter


Input: He didn't forecast Phillips's results.

Phillips


Input: But securities analysts say Phillips will be among the companies hard - hit by weak chemical prices and will probably post a drop in third - quarter earnings.

Phillips

third - quarter


Input: So, too, many analysts predict, will Exxon Corp., Chevron Corp. and Amoco Corp.

Exxon Corp.

Chevron Corp.

Amoco Corp


Input: Typical is what happened to the price of ethylene, a major commodity chemical produced in vast amounts by many oil companies.


Input: It has plunged 13% since July to around 26 cents a pound.

July

around 26 cents


Input: A year ago ethylene sold for 33 cents, peaking at about 34 cents last December.

A year ago

last December

33 cents

about 34 cents


Input: A big reason for the chemical price retreat is overexpansion.


Input: Beginning in mid-1987, prices began accelerating as a growing U.S. economy and the weak dollar spurred demand.

U.S.


Input: Companies added capacity furiously.


Input: Now, greatly increased supplies are on the market, while the dollar is stronger, and domestic economic growth is slower.


Input: Third - quarter profits from gasoline were weaker.


Input: `` Refining margins were so good in the third quarter of last year and generally not very good this year,'' said William Randol, a securities analyst at First Boston Corp.

the third quarter of last year

this year

William Randol

First Boston Corp


Input: Oil company refineries ran flat out to prepare for a robust holiday driving season in July and August that didn't materialize.

July

August


Input: The excess supply pushed gasoline prices down in that period.


Input: In addition, crude oil prices were up some from a year earlier, further pressuring profitability.

a year earlier


Input: Refiners say margins picked up in September, and many industry officials believe gasoline profits will rebound this quarter, though still not to the level of 1988's fourth quarter.

September

this quarter

1988's fourth quarter


Input: During the 1988 second half, many companies posted record gasoline and chemical profits.

the 1988 second half


Input: Crude oil production may turn out to be the most surprising element of companies' earnings this year.

this year


Input: Prices -- averaging roughly $2 a barrel higher in the third quarter than a year earlier -- have stayed well above most companies' expectations.

the third quarter

a year earlier


Input: Demand has been much stronger than anticipated, and it typically accelerates in the fourth quarter.

the fourth quarter


Input: `` We could see higher oil prices this year,'' said Bryan Jacoboski, an analyst at PaineWebber Inc.

this year

Bryan Jacoboski

PaineWebber Inc


Input: That will translate into sharply higher production profits, particularly compared with last year when oil prices steadily fell to below $13 a barrel in the fourth quarter.

last year

the fourth quarter


Input: While oil prices have been better than expected, natural gas prices have been worse.


Input: In the third quarter, they averaged about 5% less than they were in 1988.

the third quarter

about 5%


Input: The main reason remains weather.


Input: Last summer was notable for a heat wave and drought that caused utilities to burn more natural gas to feed increased electrical demand from air conditioning use.

Last summer


Input: This summer, on the other hand, had milder weather than usual.

This summer


Input: `` We've been very disappointed in the performance of natural gas prices,'' said Mr. Cox, Phillips's president.

Cox

Phillips


Input: `` The lagging gas price is not going to assist fourth quarter performance as many had expected.''

fourth quarter


Input: Going into the fourth quarter, natural gas prices are anywhere from 8% to 17% lower than a year earlier.

the fourth quarter

a year earlier

8% to 17%


Input: For instance, natural gas currently produced along the Gulf Coast is selling on the spot market for around $1.47 a thousand cubic feet, down 13% from $1.69 a thousand cubic feet a year ago.

the Gulf Coast

around $1.47

a thousand cubic feet

a thousand cubic feet

a year ago


Input: The Bush administration, trying to blunt growing demands from Western Europe for a relaxation of controls on exports to the Soviet bloc, is questioning whether Italy's Ing. C. Olivetti & Co. supplied militarily valuable technology to the Soviets.

Bush

Western Europe

bloc

Soviet

Soviets

Italy

Ing. C. Olivetti & Co.


Input: Most of the Western European members of Coordinating Committee on Multilateral Export Controls, the unofficial forum through which the U.S. and its allies align their export - control policies, are expected to argue for more liberal export rules at a meeting to be held in Paris Oct. 25 and 26.

Western European

Coordinating Committee on Multilateral Export Controls

U.S.

Paris

Oct. 25


Input: They plan to press specifically for a relaxation of rules governing exports of machine tools, computers and other high - technology products.


Input: But the Bush administration says it wants to see evidence that all Cocom members are complying fully with existing export - control procedures before it will support further liberalization.

Bush

Cocom


Input: To make its point, it is challenging the Italian government to explain reports that Olivetti may have supplied the Soviet Union with sophisticated computer - driven devices that could be used to build parts for combat aircraft.

Italian

Olivetti

the Soviet Union


Input: The London Sunday Times, which first reported the U.S. concerns, cited a U.S. intelligence report as the source of the allegations that Olivetti exported $25 million in `` embargoed, state - of - the - art, flexible manufacturing systems to the Soviet aviation industry.''

The London Sunday Times

Olivetti

U.S.

U.S.

$25 million

Soviet


Input: Olivetti reportedly began shipping these tools in 1984.

Olivetti


Input: A State Department spokesman acknowledged that the U.S. is discussing the allegations with the Italian government and Cocom, but declined to confirm any details.

State Department

Cocom

U.S.

Italian


Input: Italian President Francesco Cossiga promised a quick investigation into whether Olivetti broke Cocom rules.

Italian

Francesco Cossiga

Olivetti

Cocom


Input: President Bush called his attention to the matter during the Italian leader's visit here last week.

Bush

Italian

last week


Input: Olivetti has denied that it violated Cocom rules, asserting that the reported shipments were properly licensed by the Italian authorities.

Olivetti

Cocom

Italian


Input: Although the legality of these sales is still an open question, the disclosure couldn't be better timed to support the position of export - control hawks in the Pentagon and the intelligence community.

Pentagon


Input: `` It seems to me that a story like this breaks just before every important Cocom meeting,'' said a Washington lobbyist for a number of U.S. computer companies.

Cocom

Washington

U.S.


Input: The Bush administration has sent conflicting signals about its export - control policies, reflecting unhealed divisions among several competing agencies.

Bush


Input: Last summer, Mr. Bush moved the administration in the direction of gradual liberalization when he told a North Atlantic Treaty Organization meeting that he would allow some exceptions to the Cocom embargo of strategic goods.

Last summer

Bush

North Atlantic Treaty Organization

Cocom


Input: But more recently, the Pentagon and the Commerce Department openly feuded over the extent to which Cocom should liberalize exports of personal computers to the bloc.

Pentagon

the Commerce Department

Cocom

bloc


Input: However, these agencies generally agree that the West should be cautious about any further liberalization.


Input: `` There's no evidence that the Soviet program to -LRB- illegally -RRB- acquire Western technology has diminished,'' said a State Department spokesman.

Soviet

State Department


Input: Financial Corp. of Santa Barbara filed suit against former stock speculator Ivan F. Boesky and Drexel Burnham Lambert Inc., charging they defrauded the thrift by concealing their relationship when persuading it to buy $284 million in high - yield, high - risk junk bonds.

Financial Corp. of Santa Barbara

Drexel Burnham Lambert Inc.

Ivan F. Boesky

$284 million


Input: In a suit filed in federal court Thursday, the S&L alleged that a `` disproportionate number'' of the bonds it purchased in 1984 declined in value.

Thursday


Input: Financial Corp. purchased the bonds, the suit alleged, after Mr. Boesky and Drexel negotiated an agreement for Vagabond Hotels to purchase a 51% stake in the thrift for about $34 million.

Financial Corp.

Drexel

Vagabond Hotels

Boesky

about $34 million


Input: Vagabond Hotels was controlled by Mr. Boesky, who currently is serving a prison term for securities violations.

Vagabond Hotels

Boesky


Input: Officials at Drexel said they hadn't seen the suit and thus couldn't comment.

Drexel


Input: In addition to $33 million compensatory damages, the suit seeks $100 million in punitive damages.

$33 million

$100 million


Input: Also named in the suit is Ivan F. Boesky Corp. and Northview Corp., the successor company to Vagabonds Hotels.

Ivan F. Boesky Corp.

Northview Corp.

Vagabonds Hotels


Input: Northview officials couldn't be located.

Northview


Input: Financial Corp. said it agreed to buy the bonds after a representative of Ivan F. Boesky Corp. visited it in November 1983 and said Financial Corp. could improve its financial condition by purchasing the bonds.

Financial Corp.

Ivan F. Boesky Corp.

Financial Corp.

November 1983


Input: Shortly before the visit, Mr. Boesky and Drexel representives had met with Financial Corp. officials and had signed a letter of intent to acquire the 51% stake in the company.

Boesky

Drexel

Financial Corp.


Input: However, the agreement was canceled in June 1984.

June 1984


Input: Financial Corp. purchased the bonds in at least 70 different transactions in 1984 and since then has realized $11 million in losses on them, the company said.

Financial Corp.

at least 70

$11 million


Input: Ideal Basic Industries Inc. said its directors reached an agreement in principle calling for HOFI North America Inc. to combine its North American cement holdings with Ideal in a transaction that will leave Ideal's minority shareholders with 12.8% of the combined company.

Ideal Basic Industries Inc.

HOFI North America Inc.

Ideal

Ideal

North American


Input: HOFI, the North American holding company of Swiss concern Holderbank Financiere Glaris Ltd., previously proposed combining its 100% stake in St. Lawrence Cement Inc. and its 60% stake in Dundee Cement Co. with its 67% stake in Ideal.

HOFI

Holderbank Financiere Glaris Ltd.

St. Lawrence Cement Inc.

Dundee Cement Co.

Ideal

North American

Swiss


Input: But HOFI's first offer would have given Ideal's other shareholders about 10% of the combined company.

HOFI

Ideal

first

about 10%


Input: Ideal's directors rejected that offer, although they said they endorsed the merger proposal.

Ideal


Input: Under the agreement, HOFI will own 87.2% of the combined company.

HOFI


Input: Ideal's current operations will represent about 39.2% of the combined company.

Ideal

about 39.2%


Input: The transaction is subject to a definitive agreement and approval by Ideal shareholders.

Ideal


Input: Ideal said it expects to complete the transaction early next year.

Ideal

early next year


Input: While corn and soybean prices have slumped well below their drought - induced peaks of 1988, wheat prices remain stubbornly high.


Input: And they're likely to stay that way for months to come, analysts say.

months


Input: For one thing, even with many farmers planting more winter wheat this year than last, tight wheat supplies are likely to support prices well into 1990, the analysts say.

one

winter

this year


Input: And if rain doesn't fall soon across many of the Great Plains' wheat - growing areas, yields in the crop now being planted could be reduced, further squeezing supplies.

the Great Plains'


Input: Also supporting prices are expectations that the Soviet Union will place substantial buying orders over the next few months.

the Soviet Union

the next few months


Input: By next May 31, stocks of U.S. wheat to be carried over into the next season -- before the winter wheat now being planted is harvested -- are projected to drop to 443 million bushels.

next May 31

the next season

winter

U.S.

443 million bushels


Input: That would be the lowest level since the early 1970s.

the early 1970s


Input: Stocks were 698 million bushels on May 31 of this year.

698 million bushels

May 31 of this year


Input: In response to dwindling domestic supplies, Agriculture Secretary Clayton Yeutter last month said the U.S. government would slightly increase the number of acres farmers can plant in wheat for next year and still qualify for federal support payments.

Agriculture

Clayton Yeutter

last month

next year

U.S.


Input: The government estimates that the new plan will boost production next year by about 66 million bushels.

next year

about 66 million bushels


Input: It now estimates production for next year at just under 2.6 billion bushels, compared with this year's estimated 2.04 billion and a drought - stunted 1.81 billion in 1988.

next year

year

just under 2.6 billion bushels

2.04 billion

1.81 billion


Input: But the full effect on prices of the winter wheat now being planted won't be felt until the second half of next year.

winter

the second half of next year


Input: Until then, limited stocks are likely to keep prices near the $4 - a - bushel level, analysts say.


Input: On the Chicago Board of Trade Friday, wheat for December delivery settled at $4.0675 a bushel, unchanged.

the Chicago Board of Trade

Friday

December


Input: In theory at least, tight supplies next spring could leave the wheat futures market susceptible to a supply - demand squeeze, said Daniel Basse, a futures analyst with AgResource Co. in Chicago.

next spring

Daniel Basse

AgResource Co.

Chicago


Input: Such a situation can wreak havoc, as was shown by the emergency that developed in soybean futures trading this summer on the Chicago Board of Trade.

this summer

the Chicago Board of Trade


Input: In July, the CBOT ordered Ferruzzi Finanziaria S.p. A. to liquidate futures positions equal to about 23 million bushels of soybeans.

July

CBOT

Ferruzzi Finanziaria S.p. A.

about 23 million bushels


Input: The exchange said it feared that some members wouldn't be able to find enough soybeans to deliver and would have to default on their contractual obligation to the Italian conglomerate, which had refused requests to reduce its holdings.

Italian


Input: Ferruzzi has denied it was trying to manipulate the soybean futures market.

Ferruzzi


Input: Unseasonably hot, dry weather across large portions of the Great Plains and in wheat - growing areas in Washington and Oregon is threatening to reduce the yield from this season's winter wheat crop, said Conrad Leslie, a futures analyst and head of Leslie Analytical in Chicago.

the Great Plains

Washington

Oregon

Chicago

season

winter

Conrad Leslie

Leslie Analytical


Input: For example, in the Oklahoma panhandle, 40% or more of the topsoil is short of moisture.

Oklahoma


Input: That figure climbs to about 47% in wheat - growing portions of Kansas, he said.

about 47%

Kansas


Input: The Soviet Union hasn't given any clear indication of its wheat purchase plans, but many analysts expect Moscow to place sizable orders for U.S. wheat in the next few months, further supporting prices.

The Soviet Union

Moscow

U.S.

the next few months


Input: `` Wheat prices will increasingly pivot off of Soviet demand'' in coming weeks, predicted Richard Feltes, vice president, research, for Refco Inc. in Chicago.

Soviet

coming weeks

Richard Feltes

Refco Inc.

Chicago


Input: Looking ahead to other commodity markets this week:

this week


Input: Orange Juice Traders will be watching to see how long and how far the price decline that began Friday will go.

Friday


Input: Late Thursday, after the close of trading, the market received what would normally have been a bullish U.S. Department of Agriculture estimate of the 1989 - 90 Florida orange crop.

Late Thursday

1989 - 90

U.S. Department of Agriculture

Florida


Input: It was near the low range of estimates, at 130 million 90 - pound boxes, compared with 146.6 million boxes last season.

130 million

146.6 million

90 - pound

last season


Input: However, as expected, Brazil waited for the crop estimate to come out and then cut the export price of its juice concentrate to about $1.34 a pound from around $1.55.

Brazil

about $1.34

around $1.55


Input: Friday's consequent selling of futures contracts erased whatever supportive effect the U.S. report might have had and sent the November orange juice contract down as much as 6.55 cents a pound at one time.

Friday

November

U.S.

as much as 6.55 cents

one


Input: It settled with a loss of 4.95 cents at $1.3210 a pound.

4.95 cents


Input: Brazilian juice, after a delay caused by drought at the start of its crop season, is beginning to arrive in the U.S. in large quantities.

Brazilian

the start of its crop season

U.S.


Input: Brazil wants to stimulate demand for its product, which is going to be in plentiful supply.

Brazil


Input: The price cut, one analyst said, appeared to be aimed even more at Europe, where consumption of Brazilian juice has fallen.

one

Europe

Brazilian


Input: It's a dollar - priced product, and the strong dollar has made it more expensive in Europe, the analyst said.

Europe


Input: New York futures prices have dropped significantly from more than $2 a pound at midyear.

New York

more than $2

midyear


Input: Barring a cold snap or other crop problems in the growing areas, downward pressure on prices is likely to continue into January, when harvesting and processing of oranges in Florida reach their peak, the analyst said.

January

Florida


Input: Energy


Input: Although some analysts look for profit - taking in the wake of Friday's leap in crude oil prices, last week's rally is generally expected to continue this week.

Friday

last week's

this week


Input: `` I would continue to look for a stable crude market, at least in futures'' trading, said William Hinton, an energy futures broker with Stotler & Co.

William Hinton

Stotler & Co


Input: Friday capped a week of steadily rising crude oil prices in both futures and spot markets.

Friday

a week


Input: On the New York Mercantile Exchange, West Texas Intermediate crude for November delivery finished at $20.89 a barrel, up 42 cents on the day.

the New York Mercantile Exchange

West Texas Intermediate

November

the day

42 cents


Input: On European markets, meanwhile, spot prices of North Sea crudes were up 35 to 75 cents a barrel.

European

North Sea

75 cents


Input: `` This market still wants to go higher,'' said Nauman Barakat, a first vice president at Shearson Lehman Hutton Inc.

Nauman Barakat

first

Shearson Lehman Hutton Inc


Input: He predicted that the November contract will reach $21.50 a barrel or more on the New York Mercantile Exchange.

November

the New York Mercantile Exchange


Input: There has been little news to account for such buoyancy in the oil markets.


Input: Analysts generally cite a lack of bearish developments as well as rumors of a possible tightening of supplies of some fuels and crudes.


Input: There also are recurring reports that the Soviet Union is having difficulties with its oil exports and that Nigeria has about reached its production limit and can't produce as much as it could sell.

the Soviet Union

Nigeria


Input: Many traders foresee a tightening of near - term supplies, particularly of high - quality crudes such as those produced in the North Sea and in Nigeria.

the North Sea

Nigeria


Input: If a hostile predator emerges for Saatchi & Saatchi Co., co-founders Charles and Maurice Saatchi will lead a management buy - out attempt, an official close to the company said.

Saatchi & Saatchi Co.

Charles

Maurice Saatchi


Input: Financing for any takeover attempt may be problematic in the wake of Friday's stock - market sell - off in New York and turmoil in the junk - bond market.

Friday

New York


Input: But the beleaguered British advertising and consulting giant, which last week named a new chief executive officer to replace Maurice Saatchi, has been the subject of intense takeover speculation for weeks.

British

last week

weeks

Maurice Saatchi


Input: Last week, Saatchi's largest shareholder, Southeastern Asset Management, said it had been approached by one or more third parties interested in a possible restructuring.

Last week

Saatchi

Southeastern Asset Management

one

third


Input: And Carl Spielvogel, chief executive officer of Saatchi's big Backer Spielvogel Bates advertising unit, said he had offered to lead a management buy - out of the company, but was rebuffed by Charles Saatchi.

Carl Spielvogel

Charles Saatchi

Saatchi

Backer Spielvogel Bates


Input: Mr. Spielvogel said he wouldn't launch a hostile bid.

Spielvogel


Input: The executive close to Saatchi & Saatchi said that `` if a bidder came up with a ludicrously high offer, a crazy offer which Saatchi knew it couldn't beat, it would have no choice but to recommend it to shareholders.

Saatchi & Saatchi

Saatchi


Input: But -LCB- otherwise -RCB- it would undoubtedly come back'' with an offer by management.


Input: The executive said any buy - out would be led by the current board, whose chairman is Maurice Saatchi and whose strategic guiding force is believed to be Charles Saatchi.

Maurice Saatchi

Charles Saatchi


Input: Mr. Spielvogel isn't part of the board, nor are any of the other heads of Saatchi's big U.S. - based ad agencies.

Spielvogel

Saatchi

U.S.


Input: The executive didn't name any price, but securities analysts have said Saatchi would fetch upward of $1.3 billion.

Saatchi

$1.3 billion


Input: The executive denied speculation that Saatchi was bringing in the new chief executive officer only to clean up the company financially so that the brothers could lead a buy - back.

Saatchi


Input: That speculation abounded Friday as industry executives analyzed the appointment of the new chief executive, Robert Louis - Dreyfus, who joins Saatchi and becomes a member of its board on Jan. 1.

Friday

Jan. 1

Robert Louis - Dreyfus

Saatchi


Input: Mr. Louis - Dreyfus, formerly chief executive of the pharmaceutical research firm IMS International Inc., has a reputation as a savvy financial manager, and will be charged largely with repairing Saatchi's poor financial state.

Louis - Dreyfus

IMS International Inc.

Saatchi


Input: Asked about the speculation that Mr. Louis - Dreyfus has been hired to pave the way for a buy - out by the brothers, the executive replied, `` That isn't the reason Dreyfus has been brought in.

Louis - Dreyfus

Dreyfus


Input: He was brought in to turn around the company.''


Input: Separately, several Saatchi agency clients said they believe the company's management shakeup will have little affect on them.

Saatchi


Input: `` It hasn't had any impact on us, nor do we expect it to,'' said a spokeswoman for Miller Brewing Co., a major client of Backer Spielvogel.

Miller Brewing Co.

Backer Spielvogel


Input: John Lampe, director of advertising at PaineWebber Inc., a Saatchi & Saatchi Advertising client, said: `` We have no problem with the announcement, because we don't know what change it's going to bring about.

John Lampe

PaineWebber Inc.

Saatchi & Saatchi Advertising


Input: We aren't going to change agencies because of a change in London.''

London


Input: Executives at Backer Spielvogel client Avis Inc., as well as at Saatchi client Philips Lighting Co., also said they saw no effect.

Backer Spielvogel

Avis Inc.

Saatchi

Philips Lighting Co.


Input: Executives at Prudential - Bache Securities Inc., a Backer Spielvogel client that is reviewing its account, declined comment.

Prudential - Bache Securities Inc.

Backer Spielvogel


Input: Mr. Spielvogel had said that Prudential - Bache was prepared to finance either a management buy - out and restructuring, or a buy - out of Backer Spielvogel alone, led by him.

Spielvogel

Prudential - Bache

Backer Spielvogel


Input: Ad Notes ....


Input: NEW ACCOUNT:


Input: California's Glendale Federal Bank awarded its $12 million to $15 million account to the Los Angeles office of Omnicom Group's BBDO agency.

California

Los Angeles

Glendale Federal Bank

Omnicom Group's

BBDO

$12 million to $15 million


Input: The account was previously handled by Davis, Ball & Colombatto Advertising Inc., a Los Angeles agency.

Davis, Ball & Colombatto Advertising Inc.

Los Angeles


Input: ACCOUNT REVIEW:


Input: Royal Crown Cola Co. has ended its relationship with the Boston office of Hill, Holliday, Connors, Cosmopulos.

Royal Crown Cola Co.

Hill, Holliday, Connors, Cosmopulos

Boston


Input: The account had billed about $6 million in 1988, according to Leading National Advertisers.

about $6 million

Leading National Advertisers


Input: NOT - GUILTY PLEA:


Input: As expected, Young & Rubicam Inc. along with two senior executives and a former employee, pleaded not guilty in federal court in New Haven, Conn., to conspiracy and racketeering charges.

Young & Rubicam Inc.

two

New Haven

Conn.


Input: The government has charged that they bribed Jamaican officials to win the Jamaica Tourist Board ad account in 1981.

Jamaican

Jamaica Tourist Board


Input: A spokesman for the U.S. Attorney's office said extradition proceedings are `` just beginning'' for the other two defendants in the case, Eric Anthony Abrahams, former Jamaican tourism minister, and Jamaican businessman Arnold Foote Jr.

U.S.

two

Eric Anthony Abrahams

Arnold Foote Jr

Jamaican

Jamaican


Input: KOREAN AGENCY:

KOREAN


Input: The Samsung Group and Bozell Inc. agreed to establish a joint venture advertising agency in South Korea.

The Samsung Group

Bozell Inc.

South Korea


Input: Bozell Cheil Corp., as the new agency will be called, will be based in Seoul and is 70% owned by Samsung and 30% owned by Bozell.

Bozell Cheil Corp.

Samsung

Bozell

Seoul


Input: Samsung already owns Korea First Advertising Co., that country's largest agency.

Samsung

Korea First Advertising Co.


Input: Bozell joins Backer Spielvogel Bates and Ogilvy Group as U.S. agencies with interests in Korean agencies.

Bozell

Backer Spielvogel Bates

Ogilvy Group

U.S.

Korean


Input: Southmark Corp. said that it filed part of its 10 - K report with the Securities and Exchange Commission, but that the filing doesn't include its audited financial statements and related information.

Southmark Corp.

the Securities and Exchange Commission


Input: The real estate and thrift concern, operating under bankruptcy - law proceedings, said it told the SEC it couldn't provide financial statements by the end of its first extension `` without unreasonable burden or expense.''

SEC

first


Input: The company asked for a 15 - day extension Sept. 30, when the financial reports were due.

15 - day

Sept. 30


Input: Southmark said it plans to amend its 10K to provide financial results as soon as its audit is completed.

Southmark


Input: Alan Seelenfreund, 52 years old, was named chairman of this processor of prescription claims, succeeding Thomas W. Field Jr., 55, who resigned last month.

Alan Seelenfreund

Thomas W. Field Jr.

52 years old

last month


Input: Mr. Field also had been chairman of McKesson Corp., resigning that post after a dispute with the board over corporate strategy.

Field

McKesson Corp.


Input: Mr. Seelenfreund is executive vice president and chief financial officer of McKesson and will continue in those roles.

Seelenfreund

McKesson


Input: PCS also named Rex R. Malson, 57, executive vice president at McKesson, as a director, filling the seat vacated by Mr. Field.

PCS

McKesson

Rex R. Malson

Field


Input: Messrs. Malson and Seelenfreund are directors of McKesson, which has an 86% stake in PCS.

Malson

Seelenfreund

McKesson

PCS


Input: General Motors Corp., in a series of moves that angered union officials in the U.S. and Canada, has signaled that as many as five North American assembly plants may not survive the mid-1990s as the corporation struggles to cut its excess vehicle - making capacity.

General Motors Corp.

U.S.

Canada

as many as five

North American

the mid-1990s


Input: In announcements to workers late last week, GM effectively signed death notices for two full - sized van assembly plants, and cast serious doubt on the futures of three U.S. car factories.

last week

GM

two

three

U.S.


Input: GM is under intense pressure to close factories that became unprofitable as the giant auto maker's U.S. market share skidded during the past decade.

GM

U.S.

the past decade


Input: The company, currently using about 80% of its North American vehicle capacity, has vowed it will run at 100% of capacity by 1992.

about 80%

North American


Input: Just a month ago, GM announced it would make an aging assembly plant in Lakewood, Ga., the eighth U.S. assembly facility to close since 1987.

Just a month ago

GM

Lakewood

Ga.

U.S.

eighth


Input: Now, GM appears to be stepping up the pace of its factory consolidation to get in shape for the 1990s.

GM

the 1990s


Input: One reason is mounting competition from new Japanese car plants in the U.S. that are pouring out more than one million vehicles a year at costs lower than GM can match.

One

more than one million

Japanese

U.S.

GM


Input: Another is that United Auto Workers union officials have signaled they want tighter no - layoff provisions in the new Big Three national contract that will be negotiated next year.

United Auto Workers

next year


Input: GM officials want to get their strategy to reduce capacity and the work force in place before those talks begin.

GM


Input: The problem, however, is that GM's moves are coming at a time when UAW leaders are trying to silence dissidents who charge the union is too passive in the face of GM layoffs.

GM

UAW

GM


Input: Against that backdrop, UAW Vice President Stephen P. Yokich, who recently became head of the union's GM department, issued a statement Friday blasting GM's `` flagrant insensitivity'' toward union members.

UAW

GM

GM

Stephen P. Yokich

Friday


Input: The auto maker's decision to let word of the latest shutdowns and product reassignments trickle out in separate communiques to the affected plants showed `` disarray'' and an `` inability or unwillingness to provide consistent information,'' Mr. Yokich said.

Yokich


Input: GM officials told workers late last week of the following moves: Production of full - sized vans will be consolidated into a single plant in Flint, Mich.

GM

last week

Flint

Mich


Input: That means two plants -- one in Scarborough, Ontario, and the other in Lordstown, Ohio -- probably will be shut down after the end of 1991.

two

Scarborough

Ontario

Lordstown

Ohio

the end of 1991


Input: The shutdowns will idle about 3,000 Canadian assembly workers and about 2,500 workers in Ohio.

about 3,000

about 2,500

Canadian

Ohio


Input: Robert White, Canadian Auto Workers union president, used the impending Scarborough shutdown to criticize the U.S. - Canada free trade agreement and its champion, Prime Minister Brian Mulroney.

Robert White

Brian Mulroney

Canadian Auto Workers

Scarborough

U.S.


Input: But Canadian auto workers may benefit from a separate GM move that affects three U.S. car plants and one in Quebec.

Canadian

GM

three

one

U.S.

Quebec


Input: Workers at plants in Van Nuys, Calif., Oklahoma City and Pontiac, Mich., were told their facilities are no longer being considered to build the next generation of the Pontiac Firebird and Chevrolet Camaro muscle cars.

Van Nuys

Calif.

Oklahoma City

Pontiac

Mich.

Pontiac

Chevrolet

Firebird

Camaro


Input: GM is studying whether it can build the new Camaro - Firebird profitably at a plant in St. Therese, Quebec, company and union officials said.

GM

Camaro - Firebird

St. Therese

Quebec


Input: That announcement left union officials in Van Nuys and Oklahoma City uncertain about their futures.

Van Nuys

Oklahoma City


Input: The Van Nuys plant, which employs about 3,000 workers, doesn't have a product to build after 1993.

Van Nuys

about 3,000


Input: Jerry Shrieves, UAW local president, said the facility was asked to draw up plans to continue working as a `` flex plant,'' which could build several different types of products on short notice to satisfy demand.

Jerry Shrieves

UAW


Input: At the Oklahoma City plant, which employs about 6,000 workers building the eight - year - old A - body mid-sized cars, Steve Featherston, UAW local vice president, said the plant has no new product lined up, and `` none of us knows'' when the A - body cars will die.

Oklahoma City

about 6,000

eight - year - old

Steve Featherston

UAW


Input: He said he believes GM has plans to keep building A - body cars into the mid-1990s.

GM

the mid-1990s


Input: At Pontiac, however, the Camaro - Firebird decision appears to erase UAW hopes that GM would reopen the shuttered assembly plant that last built the plastic - bodied, two - seater Pontiac Fiero model.

Pontiac

UAW

GM

Pontiac Fiero

Camaro - Firebird


Input: The Fiero plant was viewed as a model of union - management cooperation at GM before slow sales of the Fiero forced the company to close the factory last year.

Fiero

GM

Fiero

last year


Input: Union officials have taken a beating politically as a result.


Input: Dissident UAW members have used the Fiero plant as a symbol of labor - management cooperation's failure.

UAW

Fiero


Input: Weatherford International Inc. said it canceled plans for a preferred - stock swap but may resume payment of dividends on the stock, and added that it expects to publicly offer about 10 million common shares.

Weatherford International Inc.

about 10 million


Input: The company said it planned to offer an undetermined number of common shares in exchange for the 585,000 shares of its preferred stock outstanding.


Input: The exchange ratio was never established.


Input: Weatherford said market conditions led to the cancellation of the planned exchange.

Weatherford


Input: The energy - services concern said, however, that in January 1990, it may resume payments of dividends on the preferred stock.

January 1990


Input: Weatherford suspended its preferred - dividend payment in October 1985 and said it hasn't any plans to catch up on dividends in arrears about $6 million, but will do so some time in the future.

Weatherford

October 1985

about $6 million


Input: Additionally, the company said it filed with the Securities and Exchange Commission for the proposed offering of 10 million shares of common stock, expected to be offered in November.

the Securities and Exchange Commission

10 million

November


Input: The company said Salomon Brothers Inc. and Howard, Weil, Labouisse, Friedrichs Inc., underwriters for the offering, were granted an option to buy as much as an additional 1.5 million shares to cover over - allotments.

Salomon Brothers Inc.

Howard, Weil, Labouisse, Friedrichs Inc.

as much as an additional 1.5 million


Input: Proceeds will be used to eliminate and restructure bank debt.


Input: Weatherford currently has approximately 11.1 million common shares outstanding.

Weatherford

approximately 11.1 million


Input: The Bronx has a wonderful botanical garden, a great zoo, its own charming Little Italy -LRB- on Arthur Avenue -RRB- and, of course, the Yankees.

Bronx

Little Italy

Arthur Avenue

Yankees


Input: However, most people, having been subjected to news footage of the devastated South Bronx, look at the borough the way Tom Wolfe's Sherman McCoy did in `` Bonfire of the Vanities'' -- as a wrong turn into hell.

South Bronx

Tom Wolfe's

Sherman McCoy

Bonfire of the Vanities


Input: But Laura Cunningham's Bronx, her childhood Bronx of the'50s, is something else altogether.

Laura Cunningham's

Bronx

Bronx


Input: In a lovely, novelistic memoir, `` Sleeping Arrangements'' -LRB- Knopf, 195 pages, $18.95 -RRB-, she remembers an exotic playground, peopled mainly by Jewish eccentrics and the occasional Catholic -LRB- real oddballs like her sexpot friend, the hell - kitten Diana, age five -RRB-.

Sleeping Arrangements

Knopf

Jewish

Catholic

Diana

five


Input: Ms. Cunningham, a novelist and playwright, has a vivid and dramatically outsized sense of recall.

Cunningham


Input: She transforms her `` Bronx of the emotions, a place where the flats of mediocrity are only relieved by steep descents into hysteria'' into the `` Babylonian Bronx,'' a world simmering with sex and death and intrigue.

Bronx

the `` Babylonian Bronx


Input: In the Babylonian Bronx, Jewish working - class people lived in drab, Soviet - style buildings `` glamorized'' with names like AnaMor Towers -LRB- after owners Anna and Morris Snezak -RRB-, whose lobbies and hallways were decorated with murals of ancient Syrians and Greeks, friezes of Pompeii.

the Babylonian Bronx

Pompeii

Jewish

Soviet

Syrians

Greeks

AnaMor Towers

Anna

Morris Snezak


Input: For Ms. Cunningham the architectural discombobulation matched the discrepancy she felt living in the AnaMor Towers as a little girl: `` ... outwardly ordinary, inwardly ornate, owing all inspiration to heathen cultures.''

Cunningham

the AnaMor Towers


Input: Sharp - witted and funny but never mean, she's a memorialist a bit like Truman Capote, if he'd been Jewish and female and less bitchy.

Truman Capote

Jewish


Input: Little Lily, as Ms. Cunningham calls herself in the book, really wasn't ordinary.

Little Lily

Cunningham


Input: She was raised, for the first eight years, by her mother, Rosie, whom she remembers as a loving liar, who realigned history to explain why Lily's father didn't live with them.

the first eight years

Rosie

Lily


Input: Rosie reinvented this man, who may or may not have known about his child, as a war hero for Lily's benefit.

Rosie

Lily


Input: Rosie died young and Lily has remembered her as a romantic figure, who didn't interfere much with her child's education on the streets.

Rosie

Lily


Input: The games Bronx children played -LRB- holding kids down and stripping them, for example -RRB- seem tame by today's crack standards, but Ms. Cunningham makes it all sound like a great adventure.

Bronx

today

Cunningham


Input: `` Without official knowledge of sex or death, we flirted with both,'' she writes.


Input: She analyzed families by their sleeping arrangements.


Input: Her friend Susan, whose parents kept reminding her she was unwanted, slept on a narrow bed wedged into her parents' bedroom, as though she were a temporary visitor.

Susan


Input: Her friend Diana's father was a professional thief; they didn't seem to have any bedrooms at all.

Diana


Input: Maybe Lily became so obsessed with where people slept and how because her own arrangements kept shifting.

Lily


Input: When Rosie died, her uncles moved in -- and let her make the sleeping and other household arrangements.

Rosie


Input: They painted the apartment orange, pink and white, according to her instructions.


Input: With loving detail she recalls her Uncle Gabe, an Orthodox Jew and song lyricist -LRB- who rhymed river with liver in a love song -RRB-; and Uncle Len, a mysterious part - time investigator who looked like Lincoln and carried a change of clothing in a Manila envelope, like an `` undercover President on a good - will mission.''

Uncle Gabe

Uncle Len

Lincoln

Orthodox Jew


Input: They came by their strangeness honestly.


Input: Lily's grandmother, no cookie baker, excised the heads of disliked relatives from the family album, and lugged around her perennial work - in - progress, `` Philosophy for Women.''

Lily

Philosophy for Women


Input: The book loses some momentum toward the end, when Lily becomes more preoccupied with dating boys and less with her delightfully weird family.

Lily


Input: For the most part, though, there's much pleasure in her saucy, poignant probe into the mysteries of the Babylonian Bronx.

the Babylonian Bronx


Input: The Bronx also figures in Bruce Jay Friedman's latest novel, which flashes back to the New York of the'50s.

Bronx

the New York

Bruce Jay Friedman's


Input: But both the past and present worlds of `` The Current Climate'' -LRB- Atlantic Monthly Press, 200 pages, $18.95 -RRB- feel cramped and static.

The Current Climate

Atlantic Monthly Press


Input: For his sixth novel, Mr. Friedman tried to resuscitate the protagonist of his 1972 work, `` About Harry Towns.''

sixth

Friedman

About Harry Towns


Input: Harry is now a 57 - year - old writer, whose continuing flirtation with drugs and marginal types in Hollywood and New York seems quaintly out - of - synch.

Harry

57 - year - old

Hollywood

New York


Input: Harry fondly remembers the `` old'' days of the early'70s, when people like his friend Travis would take a psychiatrist on a date to analyze what Travis was doing wrong.

Harry

Travis

Travis

the `` old'' days of the early'70s


Input: `` An L.A. solution,'' explains Mr. Friedman.

L.A.

Friedman


Input: Line by line Mr. Friedman's weary cynicism can be amusing, especially when he's riffing on the Hollywood social scheme -- the way people size each other up, immediately canceling the desperate ones who merely almost made it.

Friedman

Hollywood


Input: Harry has avoided all that by living in a Long Island suburb with his wife, who's so addicted to soap operas and mystery novels she barely seems to notice when her husband disappears for drug - seeking forays into Manhattan.

Harry

Long Island

Manhattan


Input: But it doesn't take too many lines to figure Harry out.

Harry


Input: He's a bore.


Input: Gulf Resources & Chemical Corp. said it agreed to pay $1.5 million as part of an accord with the Environmental Protection Agency regarding an environmental cleanup of a defunct smelter the company formerly operated in Idaho.

Gulf Resources & Chemical Corp.

the Environmental Protection Agency

$1.5 million

Idaho


Input: In 1984 the EPA notified Gulf Resources, which was a part - owner of the smelter, that it was potentially liable for sharing cleanup costs at the site under the federal Superfund program.

EPA

Gulf Resources

Superfund


Input: The 21 - square - mile area is contaminated with lead, zinc and other metals.

21 - square - mile


Input: Gulf Resources earlier this year proposed a reorganization plan that would make it a unit of a Bermuda concern, potentially exempting it from liability for the smelter's cleanup costs.

Gulf Resources

earlier this year

Bermuda


Input: The company said that as part of its agreement with the EPA, it `` made certain voluntary undertakings with respect to intercorporate transactions entered into after the reorganization.''

EPA


Input: The company, which issued a statement on the agreement late Friday, said that $1 million of the payment was previously provided for in its financial statements and that $500,000 will be recognized in its 1989 third - quarter statement.

late Friday

1989 third - quarter

$1 million


Input: The agreement and consent decree are subject to court approval, the company said.


Input: Gulf Resources added that it `` will seek to recover equitable contribution from others for both the amount of the settlement and any other liabilities it may incur under the Superfund law.''

Gulf Resources

Superfund


Input: Under the agreement, Gulf must give the U.S. government 45 days' advance written notice before issuing any dividends on common stock.

Gulf

U.S.

45 days'


Input: The company's net worth can not fall below $185 million after the dividends are issued.

$185 million


Input: `` The terms of that agreement only become effective the date of Gulf's reorganization, which we anticipate will occur sometime in early 1990,'' said Lawrence R. Mehl, Gulf's general counsel.

the date

early 1990

Gulf

Gulf

Lawrence R. Mehl


Input: In addition, Gulf must give the government 20 days' advance written notice of any loans exceeding $50 million that are made to the Bermuda - based holding company.

Gulf

20 days'

$50 million

Bermuda


Input: Gulf's net worth after those transaction must be at least $150 million.

Gulf

at least $150 million


Input: Separately, the company said it expects to hold a special meeting for shareholders in early 1990 to vote on its proposed reorganization.

early 1990


Input: The real estate slump that's pushing down the price of New York office space and housing is also affecting the city's retail real estate market.

New York


Input: In Manhattan, once - desirable store sites sit vacant and newly constructed space has been slow to fill.

Manhattan


Input: Retail real estate brokers say tenants are reluctant to sign leases because of uncertainty about the local economy, turmoil in their own industries and a belief that rents have not yet hit bottom.


Input: `` There is an unbelievable amount of space available,'' says Faith Consolo, senior vice president at Garrick - Aug Associates Store Leasing Inc.

Faith Consolo

Garrick - Aug Associates Store Leasing Inc


Input: There are about 2,000 stores for rent, up from a more typical range of 1,200 to 1,500.

about 2,000


Input: `` This further confuses retailers,'' she says.


Input: `` They wonder should they sign a lease if prices are still coming down?


Input: Is this the wrong time to open a store?


Input: Who is going to be in the space next door?''


Input: In addition, Ms. Consolo says, tenants usually can negotiate to pay rents that are about one - quarter lower than landlords' initial asking price.

Consolo

about one - quarter


Input: A handful of hot retail locations, such as the 57th Street and Madison and Fifth Avenue areas, have been able to sustain what many see as astronomical rents.

57th Street

Madison

Fifth Avenue


Input: And, in some neighborhoods, rents have merely hit a plateau.


Input: But on average, Manhattan retail rents have dropped 10% to 15% in the past six months alone, experts say.

Manhattan

10% to 15%

the past six months


Input: That follows a more subtle decline in the prior six months, after Manhattan rents had run up rapidly since 1986.

six months

Manhattan


Input: The same factors limiting demand for office space have affected retailing.


Input: `` As businesses contract or depart, the number of employees who might use retail services shrinks,'' says Edward A. Friedman, senior vice president of Helmsley Spear Inc.

Edward A. Friedman

Helmsley Spear Inc


Input: He says financial problems plaguing electronics, fur and furniture companies -- key categories in the local retail economy -- have further deflated the market.


Input: Hardest hit are what he calls `` secondary'' sites that primarily serve neighborhood residents.


Input: In these locations, Mr. Friedman says, `` Retailers are increasingly cautious about expanding and rents have remained steady or in some cases have declined.''

Friedman


Input: Weakness in the restaurant industry, which is leaving retail space vacant, exacerbates the problem for landlords.


Input: It is also no comfort to landlords and small New York retailers when the future of larger department stores, which anchor retail neighborhoods, are in doubt.

New York


Input: Hooker Corp., parent of Bonwit Teller and B. Altman's, is mired in bankruptcy proceedings and Bloomingdale's is for sale by its owner, Campeau Corp.

Hooker Corp.

Bonwit Teller

B. Altman's

Bloomingdale's

Campeau Corp


Input: The trend toward lower rents may seem surprising given that some communities in New York are bemoaning the loss of favorite local businesses to high rents.

New York


Input: But, despite the recent softening, for many of these retailers there's still been too big a jump from the rental rates of the late 1970s, when their leases were signed.

the late 1970s


Input: Certainly, the recent drop in prices doesn't mean Manhattan comes cheap.

Manhattan


Input: New York retail rents still run well above the going rate in other U.S. cities.

New York

U.S.


Input: Madison and Fifth Avenues and East 57th Street can command rents of up to $500 a square foot, and $250 is not uncommon.

Madison

Fifth Avenues

East 57th Street

up to $500


Input: The thriving 34th Street area offers rents of about $100 a square foot, as do up - and - coming locations along lower Fifth Avenue.

34th Street

Fifth Avenue

about $100


Input: By contrast, rentals in the best retail locations in Boston, San Francisco and Chicago rarely top $100 a square foot.

Boston

San Francisco

Chicago


Input: And rents on Beverly Hills' Rodeo Drive generally don't exceed about $125 a square foot.

Beverly Hills'

Rodeo Drive

about $125


Input: The New York Stock Exchange said two securities will begin trading this week.

The New York Stock Exchange

two

this week


Input: Precision Castparts Corp., Portland, Ore., will begin trading with the symbol PCP.

Precision Castparts Corp.

PCP

Portland

Ore.


Input: It makes investment castings and has traded over - the - counter.


Input: Royal Bank of Scotland Group PLC, an Edinburgh, Scotland, financial services company, will list American depositary shares, representing preferred shares, with the symbol RBSPr.

Royal Bank of Scotland Group PLC

RBSPr

Edinburgh

Scotland

American


Input: It will continue to trade on the International Stock Exchange, London.

the International Stock Exchange

London


Input: The American Stock Exchange listed shares of two companies.

The American Stock Exchange

two


Input: AIM Telephones Inc., a Parsippany, N.J., telecommunications equipment supply company, started trading with the symbol AIM.

AIM Telephones Inc.

AIM

Parsippany

N.J.


Input: It had traded over - the - counter.


Input: Columbia Laboratories Inc., Miami, began trading with the symbol COB.

Columbia Laboratories Inc.

COB

Miami


Input: The pharmaceuticals maker had traded over - the - counter.


Input: The National Market System of the Nasdaq over - the - counter market listed shares of one company.

The National Market System

Nasdaq

one


Input: Employee Benefit Plans Inc., a Minneapolis health - care services company, was listed with the symbol EBPI.

Employee Benefit Plans Inc.

EBPI

Minneapolis


Input: When Justice William Brennan marks the start of his 34th year on the Supreme Court today, the occasion will differ sharply from previous anniversaries of his tenure.

William Brennan

year

today

the Supreme Court


Input: For the first time, the 83 - year - old justice finds his influence almost exclusively in dissent, rather than as a force in the high court's majority.

first

83 - year - old


Input: This role reversal holds true, as well, for his three liberal and moderate allies, Justices Thurgood Marshall, Harry Blackmun and John Stevens.

three

Thurgood Marshall

Harry Blackmun

John Stevens


Input: But are these four players, three of them in their 80s, ready to assume a different role after 88 years, collectively, of service on the high court?

four

three

88 years


Input: Every indication is that the four are prepared to accept this new role, and the frustrations that go with it, but in different ways.

four


Input: Justices Brennan and Stevens appear philosophical about it; Justices Marshall and Blackmun appear fighting mad.

Brennan

Stevens

Marshall

Blackmun


Input: The four justices are no newcomers to dissent, often joining forces in the past decade to criticize the court's conservative drift.

four

the past decade


Input: But always, in years past, they have bucked the trend and have been able to pick up a fifth vote to eke out a number of major victories in civil rights and liberties cases.

years past

fifth


Input: Now, however, as the court's new five - member conservative majority continues to solidify, victories for the liberals are rare.

five


Input: The change is most dramatic for Justice Brennan, the last survivor of the mid-1960s liberal majority under Chief Justice Earl Warren.

Brennan

Earl Warren


Input: In the seven Supreme Court terms from the fall of 1962 through the spring of 1967, the height of the Warren Court's power, Justice Brennan cast only 25 dissenting votes in 555 cases decided by the court.

seven

only 25

Supreme Court

from the fall of 1962 through the spring of 1967

Warren

Brennan


Input: Last term alone he cast 52 dissenting votes in 133 decisions, with the contentious flag - burning ruling as his only big victory.

Last term


Input: But Justice Brennan foresaw his new role, strongly defending the importance of dissents in a 1985 speech.

Brennan


Input: `` Each time the court revisits an issue, the justices will be forced by a dissent to reconsider the fundamental questions and to rethink the result,'' he said.


Input: Moreover, in recent months he has said that when he was on the winning side in the 1960s, he knew that the tables might turn in the future.

recent months

the 1960s


Input: He has said that he now knows how Justice John Harlan felt, a reference to the late conservative justice who was the most frequent dissenter from the Warren Court's opinions.

John Harlan

Warren


Input: Associates of 81 - year - old Justice Marshall say he was `` depressed'' about the court's direction last spring, but is feisty about his role and determined to speak out against the court's cutbacks in civil rights.

81 - year - old

last spring

Marshall


Input: `` We could sweep it under the rug and hide it, but I'm not going to do it,'' he said in a speech last month.

last month


Input: He, like Justice Brennan, considers dissents highly important for the future, a point that hasn't escaped legal scholars.

Brennan


Input: Harvard Law School Professor Laurence Tribe says there is a `` generation - skipping'' flavor to current dissents.

Harvard Law School

Laurence Tribe


Input: The dissenters in the Warren Court, he says, appeared to be writing for the short - term, suggesting that the court's direction might change soon.

Warren


Input: `` Brennan and Marshall are speaking in their dissents to a more distant future,'' he says.

Brennan

Marshall


Input: Justice Blackmun, who will turn 81 next month, also seems feisty about his new role.

Blackmun

next month


Input: Associates say he takes some defeats more personally than his colleagues, especially attempts to curtail the right to abortion first recognized in his 1973 opinion, Roe vs. Wade.

first

Roe

Wade


Input: Friends and associates who saw Justice Blackmun during the summer said he was no more discouraged about the court than in recent years.

Blackmun

the summer

recent years


Input: And his outlook improved after successful cataract surgery in August.

August


Input: But his level of frustration showed in a recent, impassioned speech to a group of hundreds of lawyers in Chicago.

hundreds

Chicago


Input: He concluded his remarks by quoting, emotionally and at some length, according to those present, the late Martin Luther King's famous `` I Have a Dream'' speech from the 1963 March on Washington.

Martin Luther King

I Have a Dream

March on Washington


Input: Justice Stevens, 69, is probably the most philosophical of the dissenters about his role, in part because he may be the least liberal of the four, but also because he enjoys the intellectual challenge of arguing with the majority more than the others.

Stevens

four


Input: If the role these four dissenters are assuming is a familiar one in modern Supreme Court history, it also differs in an important way from recent history, court watchers say.

four

one

Supreme Court


Input: `` The dissenters of the Warren Court were often defending a legal legacy that they inherited,'' says Prof. A.E. Dick Howard of the University of Virginia Law School, `` but the dissenters today are defending a legacy that they created.

Warren

A.E. Dick Howard

the University of Virginia Law School

today


Input: The government sold the deposits of four savings - and - loan institutions, in its first wave of sales of big, sick thrifts, but low bids prevented the sale of a fifth.

four

fifth


Input: The four S&Ls were sold to large banks, as was the case with most of the 28 previous transactions initiated by the Resolution Trust Corp. since it was created in the S&L bailout legislation two months ago.

four

the Resolution Trust Corp.

two months ago


Input: Two of the four big thrifts were sold to NCNB Corp., Charlotte, N.C., which has aggressively expanded its markets, particularly in Texas and Florida.

Two

four

NCNB Corp.

Charlotte

N.C.

Texas

Florida


Input: A Canadian bank bought another thrift, in the first RTC transaction with a foreign bank.

Canadian

RTC


Input: Under these deals, the RTC sells just the deposits and the healthy assets.

RTC


Input: These `` clean - bank'' transactions leave the bulk of bad assets, mostly real estate, with the government, to be sold later.


Input: In these four, for instance, the RTC is stuck with $4.51 billion in bad assets.

four

RTC

$4.51 billion


Input: Acquirers paid premiums ranging from 1.5% to 3.7% for the deposits and branch systems, roughly in line with what analysts were expecting.

1.5% to 3.7%


Input: The buyers will also be locked into deposit rates for just two weeks, as has been the case with previous deals.

two weeks


Input: After that, the buyers may repudiate the rates paid by the former thrifts.


Input: But it's uncertain whether these institutions will take those steps.


Input: NCNB, for example, has been one of the highest rate payers in the Texas market, and in Florida, rates are especially sensitive in retirement communities.

NCNB

Texas

Florida


Input: The RTC had previously targeted five thrifts for quick sales in order to spend cash by certain budgetary deadlines, but the delays illustrate the tough chore facing the agency.

RTC

five


Input: `` These thrifts are beached whales,'' said Bert Ely, an industry consultant based in Alexandria, Va.

Bert Ely

Alexandria

Va


Input: For example, the delay in selling People's Heritage Savings, Salina, Kan., with $1.7 billion in assets, has forced the RTC to consider selling off the thrift branch - by - branch, instead of as a whole institution.

People's Heritage Savings

RTC

Salina

Kan.

$1.7 billion


Input: NCNB continued its foray into the Florida and Texas markets.

NCNB

Florida

Texas


Input: NCNB will acquire University Federal Savings Association, Houston, which had assets of $2.8 billion.

NCNB

University Federal Savings Association

Houston

$2.8 billion


Input: NCNB Texas National Bank will pay the RTC a premium of $129 million for $3.5 billion in deposits.

NCNB Texas National Bank

RTC

$129 million

$3.5 billion


Input: As a measure of the depths to which the Texas real estate market has sunk, the RTC will pay $3.8 billion to NCNB to take $750 million of bad assets.

Texas

RTC

NCNB

$3.8 billion

$750 million


Input: NCNB also acquired Freedom Savings & Loan Association, Tampa, Fla., which had total assets of $900 million.

NCNB

Freedom Savings & Loan Association

Tampa

Fla.

$900 million


Input: NCNB will pay the RTC a premium of $40.4 million for $1.1 billion in deposits.

NCNB

RTC

$40.4 million

$1.1 billion


Input: NCNB will also acquire $266 million of Freedom's assets from the RTC, which will require $875 million in assistance.

NCNB

Freedom

RTC

$266 million

$875 million


Input: Meridian Bancorp Inc., Reading, Pa., will acquire Hill Financial Savings Association, Red Hill, Pa., which had $2.3 billion in assets.

Meridian Bancorp Inc.

Hill Financial Savings Association

Reading

Pa.

Red Hill

Pa.

$2.3 billion


Input: Meridian will pay a premium of $30.5 million to assume $2 billion in deposits.

Meridian

$30.5 million

$2 billion


Input: It will also purchase $845 million of the thrift's assets, with $1.9 billion in RTC assistance.

$845 million

$1.9 billion

RTC


Input: In the first RTC transaction with a foreign buyer, Royal Trustco Ltd., Toronto, will acquire Pacific Savings Bank, Costa Mesa, Calif., which had $949 million in assets.

RTC

Royal Trustco Ltd.

Pacific Savings Bank

Toronto

Costa Mesa

Calif.

$949 million


Input: Royal Trustco will pay the RTC $25 million to assume $989 million in deposits.

Royal Trustco

RTC

$25 million

$989 million


Input: It will also purchase $473 million in assets, and receive $550 million in assistance from the RTC.

$473 million

$550 million

RTC


Input: The following issues were recently filed with the Securities and Exchange Commission:

the Securities and Exchange Commission


Input: American Cyanamid Co., offering of 1,250,000 common shares, via Merrill Lynch Capital Markets.

American Cyanamid Co.

Merrill Lynch Capital Markets


Input: Limited Inc., offering of up to $300 million of debt securities and warrants.

Limited Inc.

up to $300 million


Input: Nuveen California Performance Plus Municipal Fund Inc., initial offering of five million common shares, via Alex. Brown & Sons Inc., John Nuveen & Co., Prudential - Bache Capital Funding, and Bateman Eichler, Hill Richards.

Nuveen California Performance Plus Municipal Fund Inc.

Alex. Brown & Sons Inc.

John Nuveen & Co.

Prudential - Bache Capital Funding

Bateman Eichler, Hill Richards

five million


Input: PacifiCare Health Systems Inc., proposed offering of 1.5 million common shares, of which 700,000 shares will be offered by PacifiCare and 800,000 shares by UniHealth America Inc. -LRB- PacifiCare's 71% -RRB-, via Dillon, Read & Co. Inc., Goldman, Sachs & Co. and Dean Witter Reynolds Inc.

PacifiCare Health Systems Inc.

PacifiCare

UniHealth America Inc.

PacifiCare

Dillon, Read & Co. Inc.

Goldman, Sachs & Co.

Dean Witter Reynolds Inc

1.5 million


Input: Pricor Inc., offering of one million new shares of common stock and 300,000 shares by holders, via Drexel Burnham Lambert Inc. and J.C. Bradford & Co.

Pricor Inc.

Drexel Burnham Lambert Inc.

J.C. Bradford & Co

one million


Input: Trans World Airlines Inc., offering of $150 million senior notes, via Drexel Burnham.

Trans World Airlines Inc.

Drexel Burnham

$150 million


Input: Time magazine, in a move to reduce the costs of wooing new subscribers, is lowering its circulation guarantee to advertisers for the second consecutive year, increasing its subscription rates and cutting back on merchandise giveaways.

Time

the second consecutive year


Input: In an announcement to its staff last week, executives at Time Warner Inc.'s weekly magazine said Time will `` dramatically de-emphasize'' its use of electronic giveaways such as telephones in television subscription drives; cut the circulation it guarantees advertisers by 300,000, to four million; and increase the cost of its annual subscription rate by about $4 to $55.

last week

weekly

annual

Time Warner Inc.'s

Time

four million

about $4 to $55


Input: In a related development, the news - weekly, for the fourth year in a row, said it won't increase its advertising rates in 1990; a full, four - color page in the magazine costs about $120,000.

the fourth year

four

about $120,000


Input: However, because the guaranteed circulation base is being lowered, ad rates will be effectively 7.5% higher per subscriber, according to Richard Heinemann, Time associate publisher.

Richard Heinemann

Time


Input: Time is following the course of some other mass - circulation magazines that in recent years have challenged the publishing myth that maintaining artificially high, and expensive, circulations is the way to draw advertisers.

Time

recent years


Input: In recent years, Reader's Digest, New York Times Co.'s McCall's, and most recently News Corp.'s TV Guide, have cut their massive circulation rate bases to eliminate marginal circulation and hold down rates for advertisers.

recent years

Reader's Digest

New York Times Co.'s

McCall

News Corp.'s

TV Guide


Input: Deep discounts in subscriptions and offers of free clock radios and watches have become accepted forms of attracting new subscribers in the hyper-competitive world of magazine news - weeklies.


Input: But Time, as part of the more cost - conscious Time Warner, wants to wean itself away from expensive gimmicks.

Time

Time Warner


Input: Besides, Time executives think selling a news magazine with a clock radio is tacky.

Time


Input: `` Giveaways just give people the wrong image,'' said Mr. Heinemann.

Heinemann


Input: `` That perception takes the focus off the magazine.''


Input: Time magazine executives predictably paint the circulation cut as a show of strength and actually a benefit to advertisers.

Time


Input: `` What we are doing is screening out the readers who are only casually related to the magazine and don't really read it,'' said Mr. Heinemann.

Heinemann


Input: `` We are trying to create quality and involvement.''


Input: However, Time executives used the same explanation when in October 1988 the magazine cut its guaranteed circulation from 4.6 million to 4.3 million.

Time

October 1988

4.6 million

4.3 million


Input: And Time's paid circulation, according to Audit Bureau of Circulations, dropped 7.3% to 4,393,237 in the six months ended June 30, 1989.

Time

Audit Bureau of Circulations

the six months ended June 30, 1989


Input: Still, Time's move is being received well, once again.

Time


Input: `` It's terrific for advertisers to know the reader will be paying more,'' said Michael Drexler, national media director at Bozell Inc. ad agency.

Michael Drexler

Bozell Inc.


Input: `` A few drops in circulation are of no consequence.


Input: It's not a show of weakness; they are improving the quality of circulation while insuring their profits.''


Input: Mr. Heinemann said the changes represent a new focus in the magazine industry: a magazine's net revenue per subscriber, or the actual revenue from subscribers after discounts and the cost of premiums have been stripped away.

Heinemann


Input: `` The question is how much are we getting from each reader,'' said Mr. Heinemann.

Heinemann


Input: Time's rivals news - weeklies, Washington Post Co.'s Newsweek and U.S. News & World Report, are less reliant on electronic giveaways, and in recent years both have been increasing their circulation rate bases.

Time

Washington Post Co.'s

Newsweek

U.S. News & World Report

recent years


Input: Both magazines are expected to announce their ad rates and circulation levels for 1990 within a month.

a month


Input: When the news broke of an attempted coup in Panama two weeks ago, Sen. Christopher Dodd called the State Department for a briefing.

Panama

two weeks ago

Christopher Dodd

the State Department


Input: `` They said, ` follow CNN,''' he told reporters.

CNN


Input: That shows how far Ted Turner's Cable News Network has come since its birth nine years ago, when it was considered the laughingstock of television news.

Ted Turner's

Cable News Network

nine years ago


Input: It is bigger, faster and more profitable than the news divisions of any of the three major broadcast networks.

three


Input: Its niche as the `` network of record'' during major crises draws elite audiences around the world.


Input: But for all its success, CNN has hit a plateau.

CNN


Input: Although viewership soars when big news breaks, it ebbs during periods of calm.


Input: CNN executives worry that the network's punchy but repetitive news format may be getting stale and won't keep viewers coming back as the alternatives multiply for news and information on cable - TV.

CNN


Input: `` Just the fact we're on 24 hours is no longer bulletin,'' says Ed Turner, CNN's executive vice president, news gathering -LRB- and no relation to Ted Turner -RRB-.

24 hours

Ed Turner

Ted Turner

CNN


Input: `` You can't live on that.''


Input: So CNN, a unit of Atlanta - based Turner Broadcasting System Inc., is trying to reposition itself as a primary channel, or what people in the television industry call a `` top of mind'' network.

CNN

Turner Broadcasting System Inc.

Atlanta


Input: Tonight, to kick off the effort, CNN will premiere its first prime - time newscast in years, an hourlong show at 6 p.m. Eastern time to air head - to - head against the network newscasts.

Tonight

hourlong

6 p.m. Eastern time

CNN

first

years


Input: The show will be co-anchored by Bernard Shaw and Catherine Crier, a 34 - year - old former Texas judge and campus beauty queen who has never held a job in television or journalism.

Bernard Shaw

Catherine Crier

34 - year - old

Texas


Input: The new show is perhaps the boldest in a number of steps the network is taking to build audience loyalty by shifting away from its current format toward more full - length `` signature'' programming with recognizable stars.


Input: To distinguish itself, CNN is also expanding international coverage and adding a second global - news program.

CNN

second


Input: It is paying higher salaries -- after years of scrimping -- to lure and keep experienced staffers.

years


Input: And it is embarking on an expensive gamble to break major stories with a large investigative - reporting team.


Input: `` The next stage is to get beyond the opinion leaders who use us as a point of reference to become a point of reference at ordinary dinner tables,'' says Jon Petrovich, executive vice president of Headline News, CNN's sister network.

Jon Petrovich

Headline News

CNN


Input: But that won't be easy.


Input: Networks, like other consumer products, develop images in peoples' minds that aren't easy to change.


Input: It also takes money that CNN has been reluctant to spend to make programs and hire talent that viewers will tune in specially to see.

CNN


Input: And the cable - TV operators -- CNN's distributors and part owners -- like things just the way they are.

CNN


Input: The repositioning bid is aimed at CNN's unsteady viewership -- and what may happen to it as the cable - TV news market grows more competitive.

CNN


Input: Already, CNN is facing stronger competition from Financial News Network Inc. and General Electric Co.'s Consumer News and Business Channel, both of which are likely to pursue more general news in the future.

CNN

Financial News Network Inc.

General Electric Co.'s

Consumer News

Business Channel


Input: In addition, many cable - TV systems themselves are airing more local and regional news programs produced by local broadcast stations.


Input: CNN wants to change its viewers' habits.

CNN


Input: Its watchers are, on the whole, a disloyal group of channel - zapping `` grazers'' and news junkies, who spend an average of just 26 minutes a day watching CNN, according to audience research.

just 26 minutes

CNN


Input: That's less than one - third the time that viewers watch the major broadcast networks.

less than one - third


Input: The brief attention viewers give CNN could put it at a disadvantage as ratings data, and advertising, become more important to cable - TV channels.

CNN


Input: CNN's viewer habits have been molded by its format.

CNN


Input: Its strategy in the past has been to serve as a TV wire service.


Input: It focused on building up its news bureaus around the world, so as events took place it could go live quicker and longer than other networks.


Input: It filled its daily schedule with newscasts called `` Daybreak,'' `` Daywatch,'' `` Newsday,'' and `` Newsnight,'' but the shows varied little in content, personality or look.

daily

Daybreak

Daywatch

Newsday

Newsnight


Input: Now, the push is on for more - distinctive shows.


Input: `` Our goal is to create more programs with an individual identity,'' says Paul Amos, CNN executive vice president for programming.

Paul Amos

CNN


Input: Accordingly, CNN is adding a world - affairs show in the morning because surveys show its global - news hour in the afternoon is among its most `` differentiated'' programs in viewers' minds, says Mr. Amos.

CNN

the morning

its global - news hour

the afternoon

Amos


Input: And it is exploring other original programs, similar to its `` Larry King Live'' and `` Crossfire'' talk shows, which executives hope will keep people tuned in.

Larry King Live

Crossfire


Input: Then there's `` The World Today,'' the prime - time newscast featuring Mr. Shaw and Ms. Crier.

The World Today

Shaw

Crier


Input: Until now, CNN has featured its Hollywood gossip show during the key evening period.

CNN

Hollywood

evening


Input: But 70% of the cable - television - equipped households that watch news do so between 6:30 p.m. and 7 p.m., the network discovered, so CNN wants in.

between 6:30 p.m. and 7 p.m.

CNN


Input: Mr. Amos says the Shaw - Crier team will probably do two live interviews a day, with most of the program, at least for now, appearing similar to CNN's other newcasts.

Amos

Shaw

two

CNN


Input: Some in the industry are skeptical.


Input: `` I find it hard to conceive of people switching over to CNN for what, at least in the public's mind, is the same news,'' says Reuven Frank, the former two - time president of NBC News and creator of the Huntley - Brinkley Report.

CNN

NBC News

Reuven Frank

two

the Huntley - Brinkley Report


Input: The evening news is also slated as CNN's stage for its big push into investigative journalism.

evening

CNN


Input: In August, the network hired award - winning producer Pamela Hill, the former head of news specials at ABC.

August

Pamela Hill

ABC


Input: She's assembling a staff of about 35 investigative reporters who will produce weekly, in - depth segments, with an eye toward breaking big stories.

about 35

weekly


Input: CNN executives hope the headlines created by such scoops will generate excitement for its `` branded'' programs, in the way `` 60 Minutes'' did so well for CBS.

CNN

CBS

60 Minutes


Input: That's such a departure from the past that many in the industry are skeptical CNN will follow through with its investigative commitment, especially after it sees the cost of producing in - depth pieces.

CNN


Input: `` They've never shown any inclination to spend money on production,'' says Michael Mosettig, a senior producer with MacNeil - Lehrer NewsHour, who notes that CNN is indispensable to his job.

Michael Mosettig

MacNeil - Lehrer NewsHour

CNN


Input: The network's salaries have always ranged far below industry standards, resulting in a less - experienced work force.


Input: CNN recently gave most employees raises of as much as 15%, but they're still drastically underpaid compared with the networks.

CNN

as much as 15%


Input: Says Mr. Mosettig: `` CNN is my wire service; they're on top of everything.

Mosettig

CNN


Input: But to improve, they've really got to make the investment in people.''


Input: In any case, cable - TV - system operators have reason to fear any tinkering with CNN's format.

CNN


Input: They market cable - TV on the very grazing opportunities CNN seeks to discourage.

CNN


Input: `` We would obviously be upset if those kinds of services evolved into more general - interest, long - format programming,'' says Robert Stengel, senior vice president, programming, of Continental Cablevision Inc., which holds a 2% stake in Turner Broadcasting.

Robert Stengel

Continental Cablevision Inc.

Turner Broadcasting


Input: The Second U.S. Circuit Court of Appeals opinion in the Arcadian Phosphate case did not repudiate the position Pennzoil Co. took in its dispute with Texaco, contrary to your Sept. 8 article `` Court Backs Texaco's View in Pennzoil Case -- Too Late.''

Second U.S. Circuit Court of Appeals

Arcadian Phosphate

Pennzoil Co.

Texaco

Sept. 8

Court Backs Texaco's View in Pennzoil Case -- Too Late


Input: The fundamental rule of contract law applied to both cases was that courts will not enforce agreements to which the parties did not intend to be bound.


Input: In the Pennzoil / Texaco litigation, the courts found Pennzoil and Getty Oil intended to be bound; in Arcadian Phosphates they found there was no intention to be bound.

Pennzoil

Pennzoil

Getty Oil

Arcadian Phosphates


Input: Admittedly, the principle in the cases is the same.


Input: But the outcome of a legal dispute almost always turns on the facts.


Input: And the facts, as found by the various courts in these two lawsuits, were different.

two


Input: When you suggest otherwise, you leave the realm of reporting and enter the orbit of speculation.


Input: Charles F. Vihon

Charles F. Vihon


Input: Valley Federal Savings & Loan Association said Imperial Corp. of America withdrew from regulators its application to buy five Valley Federal branches, leaving the transaction in limbo.

Valley Federal Savings & Loan Association

Imperial Corp. of America

Valley Federal

five


Input: The broken purchase appears as additional evidence of trouble at Imperial Corp., whose spokesman said the company withdrew its application from the federal Office of Thrift Supervision because of an informal notice that Imperial's thrift unit failed to meet Community Reinvestment Act requirements.

Imperial Corp.

Office of Thrift Supervision

Imperial

Community Reinvestment Act


Input: The Community Reinvestment Act requires savings and loan associations to lend money in amounts related to areas where deposits are received.

The Community Reinvestment Act


Input: The transaction, announced in August, included about $146 million in deposits at the five outlets in California's San Joaquin Valley.

August

about $146 million

five

California

San Joaquin Valley


Input: Terms weren't disclosed, but Valley Federal had said it expected to post a modest pretax gain and to save about $2 million in operating costs annually.

Valley Federal

about $2 million

annually


Input: Valley Federal said Friday that it is considering whether to seek another buyer for the branches or to pursue the transaction with Imperial Corp., which said it is attempting to meet Community Reinvestment Act requirements.

Valley Federal

Imperial Corp.

Friday

Community Reinvestment Act


Input: Valley Federal, with assets of $3.3 billion, is based in Van Nuys.

Valley Federal

$3.3 billion

Van Nuys


Input: Imperial Corp., based in San Diego, is the parent of Imperial Savings & Loan.

Imperial Corp.

Imperial Savings & Loan

San Diego


Input: In the first six months of the year it posted a net loss of $33.1 million.

the first six months of the year

$33.1 million


Input: Call it the `` we're too broke to fight'' defense.


Input: Lawyers for dozens of insolvent savings and loan associations are trying a new tack in their efforts to defuse suits filed by borrowers, developers and creditors.

dozens


Input: The thrifts' lawyers claim that the suits, numbering 700 to 1,000 in Texas alone, should be dismissed as moot because neither the S&Ls nor the extinct Federal Savings and Loan Insurance Corp. has the money to pay judgments.

700 to 1,000

Texas

Federal Savings and Loan Insurance Corp.


Input: Though the argument may have a common - sense ring to it, even the S&L lawyers concede there's little precedent to back their position.


Input: Still, one federal appeals court has signaled it's willing to entertain the notion, and the lawyers have renewed their arguments in Texas and eight other states where the defense is permitted under state law.

one

eight

Texas


Input: The dismissal of the pending suits could go a long way toward clearing court dockets in Texas and reducing the FSLIC's massive legal bills, which topped $73 million last year.

Texas

FSLIC

$73 million

last year


Input: The S&L lawyers were encouraged last month by an appellate - court ruling in two cases brought against defunct Sunbelt Savings & Loan Association of Dallas by the developers of the Valley Ranch, best known as the training center for the Dallas Cowboys football team.

last month

two

Sunbelt Savings & Loan Association

Dallas Cowboys

Dallas

the Valley Ranch


Input: Sunbelt foreclosed on the ranch.

Sunbelt


Input: Sunbelt and the FSLIC argued to the Fifth U.S. Circuit Court of Appeals `` that there will never be any assets with which to satisfy a judgment against Sunbelt Savings nor any means to collect from any other party, including FSLIC.''

Sunbelt

FSLIC

the Fifth U.S. Circuit Court of Appeals

Sunbelt Savings

FSLIC


Input: `` If true,'' the court wrote, `` this contention would justify dismissal of these actions on prudential grounds.''


Input: But the court said it lacked enough financial information about Sunbelt and the FSLIC and sent the cases back to federal district court in Dallas.

Sunbelt

FSLIC

Dallas


Input: Charles Haworth, a lawyer for Sunbelt, says he plans to file a brief this week urging the district judge to dismiss the suits, because Sunbelt's liabilities exceeded its assets by about $2 billion when federal regulators closed it in August 1988.

Charles Haworth

Sunbelt

Sunbelt

this week

August 1988

about $2 billion


Input: `` This institution is just brain dead,'' says Mr. Haworth, a partner in the Dallas office of Andrews & Kurth, a Houston law firm.

Haworth

Dallas

Houston

Andrews & Kurth


Input: But a lawyer for Triland Investment Group, the developer of Valley Ranch, dismisses such arguments as a `` defense du jour.''

Triland Investment Group

Valley Ranch


Input: Attorney Richard Jackson of Dallas says a judgment for Triland could be satisfied in ways other than a monetary award, including the reversal of Sunbelt's foreclosure on Valley Ranch.

Richard Jackson

Dallas

Triland

Sunbelt

Valley Ranch


Input: `` We're asking the court for a number of things he can grant in addition to the thrill of victory,'' he says.


Input: `` We'd take the Valley Ranch free and clear as a booby prize.

the Valley Ranch


Input: Kenneth J. Thygerson, who was named president of this thrift holding company in August, resigned, citing personal reasons.

Kenneth J. Thygerson

August


Input: Mr. Thygerson said he had planned to travel between the job in Denver and his San Diego home, but has found the commute too difficult to continue.

Thygerson

Denver

San Diego


Input: A new president wasn't named.


Input: SOUTH AFRICA FREED the ANC's Sisulu and seven other political prisoners.

SOUTH AFRICA

ANC

Sisulu

seven


Input: Thousands of supporters, many brandishing flags of the outlawed African National Congress, gave the anti-apartheid activists a tumultuous reception upon their return to black townships across the country.

Thousands

African National Congress


Input: Most of those freed had spent at least 25 years in prison.

at least 25 years


Input: The 77 - year - old Sisulu, sentenced to life in 1964 along with black nationalist Nelson Mandela for plotting to overthrow the government, said equality for blacks in South Africa was in reach.

77 - year - old

Sisulu

Nelson Mandela

South Africa